hang for taking the blame for me, mike, and having your kids on tv, not mine. dagen: i got to spend the morning with two great dads. sean and mike lee. thank you both for being here. i hope to see you both again very soon. paris day of the month, first trading day of the month. we watch these markets. stuart varney, take it away. stuart: okay, i will. good morning, dagen. good morning, everyone. no selloff. that's the headline. it's the august 1st. we're coming off a great week and a great month. you might have expected a pullback, but not a big one. look at this, the dow's going to be down, okay, 140 points, nasdaq may be down 70. it is not a major league selloff, i don't think so. interest rates remain at relatively low level, the 10-year yielding 2.66%. minor league selling in bitcoin, currently looking at $23,000 per

coin. now, if the markets are fairly quiet, the political world is anything but. senator schumer has just five days to get the inflation reduction act of 2022 the through the senate. it'll be an uphill struggle. various authorities have studied the details and conclude that it doesn't reduce inflation, that it is a giant tax and spend measure which democrats are desperate to get on the books before the november elections. all 50 democrat senators must say yes to it. we don't know if senator sinema is onboard. according to a senior taiwanese official and a u.s. official, speaker pelosi is expected to visit taiwan. despite threats if china. when does she go? will she stay overnight? don't know. but the u.s. official said the defense department is working on a plan to keep her safe. big change for golf. over the weekend the saudi-backed liv tour arrived at trump's course in new jersey. it seemed line a different -- like a different game. loud music, shotgun start and

really big money for everybody. henrik stenson won and took home $4 million. the player who finished dead last got $120,000. and i really have to get in this in, england beat germany 2-1 in the final of the women's european soccer championship. a lot of brits will be staying home this monday morning. the pubs did a roaring business, all those celebrations last night. it's monday, august the 1 1st, 2022. "varney & company" is about to begin. ♪ ♪ then jump for my love. ♪ jump in and feel my touch ♪♪ stuart: i do like that music. gets you going -- lauren: i don't like that shot. so gray. stuart: raining in new york city. anyway, let's go.

all right. futures point to a lower opening. but as i said, that's not a major league selloff. dan ives, the man himself, is back with us. he's going to stay for the entire first hour of the show, how about that? >> great to be here. stuart: welcome back. no major selloff. i don't think a drop of 170 points on the dow is a major selloff, and i am hearing quite a few folks on wall street saying the bear market is over. would you go that far? >> last week was a seminal week for the market and tech stocks. you saw from apple, amazon, microsoft, i think what it's shown is a clearly slowing economy, but a lot of bad news baked into the tech stocks, we continue to believe that the bottom's in here intact. it really comes down to fundamentally enterprise holding up better than expected, and a lot of the big stars, in my opinion, lead tech higher. stuart: okay. big tech has bottomed out. that's what you think. >> in my opinion -- stuart: up are if here?

the apples and microsofts of this world, they go up from here? >> we believe risk on second half of the year. right now it's as megaan environment as i've seen -- negative an environment as i've seen since 2009. i i think you're going to see more risk on, more of a backdrop to invest in growth names, and look, it really comes down to fundamentals. you come out of the last two weeks, and it can names in terms of earnings, you're seeing dents around the edges, but really the fundamentals look robust. stuart: would you go so far as to say the bear market is over? >> look, i think -- stuart: difficult question to answer. >> because i think bear markets can continue to linger. recession, as we know, is going to continue to be choppy. but it comes down to what's baked into the stocks. we've talked about it with you and the team, if you look at the last few weeks, that was really the eye-opener for the street because bearishness was so negative. i believe second half it's a green light many tech stock --

in tech socks. stuart: dan, stay there, please. all right. senator manchin is defending his support for the democrats' new giant tax and spend bill. lauren, what exactly is he saying? lauren: senator manchin is saying it does not raise taxes, and it does not raise inflation, a point bret baier pressed him on after he said the same thing about the american rescue spending plan. listen here. >> do americans believe you now when you say this new bill will not exacerbate inflation? >> i made sure i don't make that mistake again, that's the bottom line. we did not raise taxes. we closed loopholes. lauren: okay. there's the rub. the nonpartisan joint committee on taxation says it does raise taxes. taxes would jump $15.7 with -- billion on americans making less than $200,000 a year. that just covers 2023. stuart: all right.

thanks, lauren. we'll have a larger breakdown of that later on. mike huckabee, former governor of arkansas, joins us now. governor, the bean counters say it will not cut inflation and and that it will tax people making less than $400,000 a year, so why are the democrats moving heaven and earth to rush this through thing through in five days? >> well, simple, stu, they don't know beans about how the economy functions. the truth is when joe manchin -- who's a good guy, basically, but when joe says this isn't going to raise taxes, i tend to think that maybe we should never elect people who have never signed the front of a paycheck. and have only signed the back of one, and they're recipients of money, but they've never had to meet a payroll or make a business with work. the so-called idea of closing loopholes, what does that mean? it means that you're going to go back and undo some tax benefits that were created for a very specific purpose. let me give you an example, stu,

what about the one that says you can take all of your expenses in one year rather than having to depreciate it out every several years. do you know what that did? that caused businesses to buy big ticket items that they otherwise wouldn't have bought. when they do that, people have to build those items, service and sell hem and deliver them. everybody gets jobs. you take that so-called loophole away, and you start then having a cascading effect cutting the economy, hurting people's jobs. and we're not talking about jobs at the top, we're talking about jobs throughout the entire economy. stuart: but it's by no means certain that all of it or even the major participants of it will actually get passed because they've got to get it done by friday. congress goes on recess friday night. there's a very limited amount of time. they can't get it all in, can they? >> let's hope not. let's hope they can't. i wish they'd take their recess tonight. let's offer to buy them all popsicles if they would just go

ahead and get out of town today, tonight, early in the morning. the sooner they get out of d.c., the saferrer we are as americans and the safer our paychecks and pockets are. will this cause inflation? you better believe it'll cause inflation. when the government keeps spending money and raising taxes, inflation continues. and joe manchin and the democrats don't have a clue how to fix it. if they would have a had a clue, they would have done it, and they wouldn't have dug the deep hole that they've dug. and now their solution to that, let's get a bigger shovel. that's crazy. [laughter] stuart: that's a good analogy. governor, thanks very much for being here, sir. we always appreciate it. see you again soon. >> thanks. stuart: a leading -- well known guy -- federal reserve official, he was asked are we in recession? i bet he deflected the question. lauren: he did. neel kashkari of minneapolis, he told cbs something that we've heard a lot recently about, recession doesn't matter, inflation does. >> whether we are technically in

a recession or not doesn't change my analysis. i'm focused on the inflation data. i'm focused on the wage data. and so far inflation continues to surprise us to the upside, wages continue to grow. lauren: he did admit that most americans' real wages are down. he said that at one point in the interview, and friday we get the july jobs report, and guess what? wages are supposed to be done. if you look at the annual increase, it's supposed to go up 4.9% year-over-year, and you have inflation running at 9.1%, so you are underwater no matter how you cut it. stuart: do you have an opinion, dan can ives, on the recession? are we in a recession? do we care? >> i think the street thinks we're in a recession. that's a lot of the negative environment going into stocks, but also it's a bifurcation. a lot of sectors are going to see it more than others, and i think what you're seeing here is earnings is what i'd say the gauge that investors are looking for, looking forward through the

storm. no doubt dark storm clouds are on the horizon, and you've seen it reflected. stuart: got it. president biden has tested positive for covid again. lauren, is he back in isolation? lauren: he is, and he's asymptomatic, which is good news. he tested negative tuesday, wednesday, thursday and friday but positive on saturday. he's part of this very small group of people who took that 5-day course of paxlovid and had rebound positivity. it's unexplained, so we're trying to figure out why is this happening. one theory is pfizer developed paxlovid when delta was the dominant strain, not omicron. or, you know, it just wipes out the virus before your body can really i -- adjust to the virus. but, unfortunately, the president did test positive again. he's okay. stuart: god that -- got that. thanks, lauren. before this market opens i see some red but not a whole lot of it. let me put it like that. china has warned the u.s.

over speaker pelosi's possible visit to taiwan, so should she go? former secretary of state mike pompeo will join us right after this. ♪ ♪ bad, bad, bad, bad to the bone ♪♪ finding my way forward with node-positive breast cancer felt overwhelming at times. but i never just found my way, i made it. so when i finished active therapy, i kept moving forward and did everything i could to protect myself from recurrence. verzenio is the first treatment in over 15 years to reduce the risk of recurrence for adults with hr-positive, her2-negative, node-positive,

early breast cancer with a high chance of returning, as determined by your doctor when added to hormone therapy. hormone therapy works outside the cell while verzenio works inside to help stop the growth of cancer cells. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor, start an antidiarrheal, and drink fluids. before taking verzenio, tell your doctor about any fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death. life-threatening lung inflammation can occur. tell your doctor about any new or worsening trouble breathing, cough, or chest pain. serious liver problems can happen. symptoms include fatigue, appetite loss, stomach pain, and bleeding or bruising. blood clots that can lead to death have occurred. tell your doctor if you have pain or swelling in your arms or legs, shortness of breath, chest pain, and rapid breathing or heart rate, or if you are nursing, pregnant, or plan to be. i'm making my way forward, my way with verzenio. ask your doctor about everyday verzenio. every year we try

to exercise more, to be more social, to just relax. and eating healthy every single meal? if only it was this easy for us. i love all types of dancing... salsa, and even belly dancing! i am a triathlete. i've always been into health, and wellness, and fitness... i tried everything with diet and exercise, and nothing worked. there was just kinda this stubborn area on my stomach. but coolsculpting worked for me! coolsculpting targets, freezes and eliminates treated fat for good. no needles, no incisions. discuss coolsculpting with your provider. some common side effects include temporary numbness, discomfort and swelling. you've come this far... coolsculpting takes you further. visit coolsculpting.com

this is xfinity rewards. coolsculpting takes you further. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app.

♪ pleasure we've only just begun ♪♪ stuart: whoa, i really like that shot. has niagara palls. what a way to see it, terrific. 75 degrees, the weather forecast. i'm more impressed with the falls themself. all right, let's move on. the futures showing a little red ink but not much. dow's about 130-odd points down.

now this: speaker pelosi has landed in singapore to start or her visit to asia. is there any mention of taiwan on her official itinerary? lauren: no. sing mother o -- singapore, malaysia, south korea and japan, however, she could make a surprise trip to taiwan, and this is a report that says she's expected to go there. they say she's going to stay overnight, they don't say when she will land. but china has increased provocations towards the u.s. if the speaker does, in fact, visit. state media went as far as saying they'll shoot down her plane. what does that say about our standing in the world where china or anybody thinks that they could say something like that? if. stuart: it was surprisingly harsh, that statement. it was a direct threat against the person who is third in line to take over the oval office. let's bring in former secretary of state mike pompeo who joins us this morning.

mr. secretary, do you think that speaker pelosi should go to taiwan? >> well, stuart, good morning, great to be with you. she should absolutely go. i suppose six months ago it wouldn't have mattered so much, but once it was pretty clear she wanted and intended to go there, you can't pull that trip down because the chinese communist party sends some third rate propagandist to threaten her or the united states of america. president biden said, well, the military doesn't want her to go, that was an enormous tactical mistake. especially against the backdrop of the relationship between china and the united states. for them to threaten the speaker of the house and tell them where she can and can't go makes absolutely no sense. you and i have talked about hollywood backing down from putting things in particular movies, we've talked about wall street cow i towing to the chinese communist party, still operating where there's a million people in internment camps, for the speaker of the

house to fall to chinese propagandist is weakness. stuart: what should our response be to this? >> i would, first of all, make sure we weren't on defense. one of the things this administration has failed to understand is if you're just deciding whether to accede to the threat or not, stuart, you can imagine lots of options. you could say, well, we're going to reduce chinese student visas by 50,000 next year if you fly an airplane up and threaten the speaker of the house. you could say we're going to impose some economic pain on the chinese. there are so many tools. we have so much power. we're still the greatest nation in the history of civilization, stuart. to think that, boy, some propagandist from the global times inside of china could issue this kind of threat, the united states will just, you know, become bedwetters worried about whether or not our speaker can travel to an independent, sovereign nation freely is a real sign of weakness, and the

whole world's watching especially, stuart, our friends, the japanese, the australians, the south koreans, all the countries in southeast asia. if president biden pulls this trip down and we turn around and ask them, hey, china's threatening you, we want you to respond to them, they're going to say we're going to fold too. china's counting on that. stuart: let's transfer to another front. vladimir putin is warning they've got a few naval dock run the that labels america -- doctrine as america's a global adversary. what should our response to that be? >> a document talking about russian naval, we should study that and understand what they're doing. we know a lot about the russian navy. you should, you should not underestimate them although we've seen what the russian army failed to be able to do in ukraine. but these tools, these hypersonic tools that you describe, stuart, these are are serious weapons systems. i can't say too much other than we need to make sure that we are

doing all the work that's needed to be to do. we can't underfund our military the way president biden has done. we need to prepare not only defensively to prevent hem from using them and deter them from using those weapons, but make sure we're capable of responding in a way that vladimir putin will understand and deter him from ever thinking about deploying one of those weapons against the united states of america. stuart: do you think we would be facing this kind of threat from china and russia had benot had this debacle in afghanistan almost exactly one year ago? >> i think what happened in afghanistan was a benchmark for all of our adversaries. they saw an american that did things that it's never done before and left americans behind. it withdrew from a fight in a way that didn't support our friends and allies after 20 years of commitment, the way in which we departed was something the whole world watched. whether some of this would have happened or not, stuart, it's always difficult to know, but i don't think for a moment our

adversaries didn't see that, see a president that was unwilling to show the resolve to protect america and defend our interests in the world, and i think they are now pressing us, trace -- testing us to see in this president will stand up for the american people in the way we did for four years. stuart: mr. secretary, thank you, as always -- >> stuart, have a great with morning. stuart: thank you. all right. russia attacked a port city, there are reports that a very wealthy ukrainian businessman was killed in that attack. there is some speculation that this gentleman was targeted. what do we have on this? lauren: yeah. he was the owner of the largest grain company in ukraine. he and his wife died after massive russian shelling hit their bedroom. so that's why they believe it was the a very deliberate, targeted attack. we have good news as of today, the first shipment in five months of grain has left odesa. it's headed for lebanon thanks to that safe passage deal

brokered by turkey and the united nations. so 17 ships in the south now holding 600,000 tons of cargo, their stock, president zelenskyy warning that ukraine's going to lose half of the harvest this year. stuart: germany is no longer buying coal from russia. lauren: starting today. stuart: any word on when they might stop buying oil? lauren: by the end of the year, december 31st. prewar russia -- germany is moving as fast as they can to develop natural gas in port terminals to be able to take in gas from other companies, should we be able to get it there when russia won't. stuart: got it. check pooches, please. we've got seven -- futures, please. we've got seven minutes to go til the opening bell. we'll take you to wall street for this monday morning, august the 1st, next. ♪ ♪

it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪

♪♪ here goes nothing. hey greg. uhh...hello?

it's me, your heart! really? yes! recording an ekg in 30 seconds. tada! wow, that was fast. you know it! kardia offers the only personal ekgs that detect six of the most common arrhythmias in just 30 seconds. so you can manage your heart health from home, or on the go. your heart rhythm is normal. no arrhythmias in sight. i wonder what my doctor would say. ooh! let's find out! with kardia, you can email your ekg directly to them or send it to a cardiologist for review. kardia can do all that? all that and then some, greg! kardia also gives you access to heart health reports and automatic ekg sharing. what next? let's get some fresh air. been cooped up for too long. yeah... ♪♪ kardia mobile card is available for just $99. get yours at kardia.com or amazon. stuart: it's monday morning. the market will open lower, down about 160 for the dow in about three-and-a-half minutes' time.

keith fifths joins us -- keith fitz joins us. are we done with the bear market? >> stuart, that's an interesting nuance. people are definitely done with the bear market. whether the market is, is entirely different. i don't quite think we're there, but the psychology we've talked about is definitely there. people want to climb higher, the markets want to climb higher, the right companies want to climb higher. stuart: big tech really came through last week, right? >> oh, man, wasn't that great to see? i'm really starting to think seriously about getting back on the gas, and i love what i'm seeing. their going right back to the head of the gas. stuart: wait a minute, you're just starting to think about putting your foot on the gas for big with tech. just starting to think about it? >> well, i've been buying all along, as you know, i've slowed my buying down through that whole decline because if you get to buy low and sell high, that's how the game works. but now i'm looking at dramatically stomping on the gas because if the leverage comes

back, if big tech continues to put the numbers on the table, it's going to accelerate higher. stuart: well, what are you looking for? >> that's the key when it comes to building -- stuart: what do you want to see in the news before you step on the gas bigtime for big tech? >> i want to see the fed acquiesce, acknowledge they've made some mistakes. i think we're close to that point. whether or not they actually come through, i don't know. but the other thing i want to see is rates kind of stabilize because, again, people are done with this. and that is an important bullish indicator because abject bearishness is a very contrarian philosophy, and it's a very, very telling indicator, and it has been for hundreds of years. when people give up, when they sell despondently, that's the point when you absolutely get back on the gas, and i'm going to get out on a limb and say i'm getting close to that point right now. stuart: a big report comes out friday or morning at 8:30 eastern time, the jobs report looking back to july. i've heard a lot of people say

it's not going to be a very good report,st going to be a bad report as in not many new jobs created or a rise in the unemployment rate. how do you see it? >> well, again, this is one of those strange instances in time where what's bad could actually be good because let's just play this through. if the number really stinks and it is as bad as everybody thinks it's going to be, then traders are going to try to second guess that. the fed's got to pause, can't be that aggressive. if that's the case, traders do step on the gas pedal. stuart: keith, thanks for being with us, see you again soon. dan ives with me this morning. dan, we just heard it from keith, last week was a huge week for big tech. they came through for us. you think it was one of the most important weeks for earnings for years. >> i'd say six, seven years because, ultimately, from a data point perspective, even when the new york city cab driver was -- [inaudible]

and i you see what ultimately came out, youd had strength in cloud, strength in enterprise, and apple, a key barometer, not seeing demand soften. you put that together in terms of where multiples overcorrect, in our opinion, that's the second half is really sort of setting up to be a strong tech rally. stuart: strong it can rally in the second half. we love to hear that. thank you, dan. good to have you here. the opening bell, you can hear it, it's ringing. it is now. 9:30 eastern time, and the market has opened on this monday, august the 1st. right from the start we're on the downside. i've been saying all morning this is not a huge selloff, and it's not although about 26 of the dow 30 are in the red as we speak, and the dow is off about a half percentage point in the early going. s&p 500, where's that this morning? it's also opened lower. there you go. it's down about a half percentage point, just over that. the nasdaq composite down just over a half percentage point. so you've got red ink to the

tune of roughly half a percentage point across the board. big tech, all of them down but, again, no huge losses. google is down better than 1%, microsoft down better than 1%. look at that. all right. let's look at tesla and twitter. of susan's back with us this morning. susan: good morning. stuart: what's with twitter and musk countersuing? susan: yeah. so we knew this was going to happen. a lot of legal experts had predicted this, so maybe he'll get more than just five days in court or get the court case delayed from the october 17th start. also more discovery power which gives him more access and more authority to question leading to that spam and robo account data that he's been arguing against. it's really interesting, i was reading that bloomberg survey is over the weekend of more than 1500 investors in tesla. 75% of them say and believe that he won't end up owning twitter at the end of in the. so 30% think that he'll settle

for a billion or more, in damages, that is. more than a quarter say he'll pay that billion dollar break-up fee, the rest think he'll just walk away, which i found really interesting. the $44 billion bid, more investors and a lot of investors think he'll sell stock again regardless of whether or not he wins that trial. stuart: dan ives, you follow tesla. it's up this morning back above $900. what's the story? >> production numbers especially in the second half of and deliveries, that's much stronger hand the street expected -- susan: also i would say that china delivering numbers means that tesla probably did pretty well. so you saw the nio s&p pang -- and x pangs coming out, i think that's why the stock is up today because the implication that july's pretty good. >> yeah. ultimately, the hearts and lungs of the tesla story is china.

that's been the big overhang in terms of april and may, and now you're starting to see that rebound. that's a key can reason why i think it's headed towards 1,000. stuart: neo opening its first overseas plant. susan: look at the stock today, you're up 2% because of that expansion in europe. numbers, quickly go through them. i saw more than 10,000 for nio, x pang delivered 11,000 plus which is helping tesla today. nio opening its first european plant in hungary, but they're not going to start shipping cars just yet. also nikola, that embattled electric truckmaker, they just bought romeo power for $144 million. stuart: do you follow electric vehicles other than tesla? >> names i believe are poised to be bullish on, nio in china, e also the commercial names.

stuart: you are poised to be bullish on nio. >> i think as they ultimately execute, i think that's where these stocks are going to start to work. stuart: boeing, huge gain today. they're up 3.3%. did they avoid a strike or somethingsome. susan: dow leader today and also dreamliner deliveries have been cleared for the first time in 14 months by the faa, so that's a big deal. less cash drain for the company and making more sales. remember back in 2020 you had engineers finding some gaps in the fuselage which is, obviously, very concerning, right? [laughter] stuart: yes. susan: boeing workers have averted a strike, so this is all positive for the planemaker. and, you know, they just recorded some of the first deliveries and first plane orders, i think, in a long time. delta ordering a big chunk, a big number for the first time in a decade. stuart: i do can a lot of flying, but i've never yet flew on a dreamliner.

susan: you have not? internationally? stuart: not for years. susan: they're so fuel efficient that they use the dreamliner on the long hauls. stuart: i like those big windows which i'm told are interesting. [laughter] what do you know about activision blizzard? susan: they're going to report later on today. still trying to close that deal with microsoft which would be $65-70 billion range. i think there's definitely going to be unique in in this report card can, i think most people expect a slowdown when it comes to that gaming boom that came place during the covid. stuart: pinterest. susan: also we have activist investors in pinterest, and given the slowdown we've seen in advertising revenue and also a slowdown in usage that we've seen in pinterest namely, we got the numbers from meta, also snap has confirmed this is a reality that we're in. stuart: is this a big afternoon for you, dan? >> look, it's big because really in terms of the next leg, it's going to be cybersecurity.

that's really the one area we haven't seen, and i believe it's continuing to hold up stronger, see the earnings. come bind that with cloud, that's the one-two punch. stuart: okay. susan: palo alto was an upgrade by wolf saying there's 40% upside. would you buy into the big names like pal lows and the rest of the cyber? >> palo is one of our favorite names. cybersecurity across the board, maims like zscaleer, i think a lot of these things are have overcorrect ared. but you looked at sentiment, much different in terms of spending. stuart: that's what i was looking for, a table-pounder, and palo alto networks -- >> table pounder across the board. stuart: thanks a lot. check the big board, we're down 140 points this monday morning, a little less than a half percentage point down. dow winners, top of that list i'm pretty sure boeing?

yeah, it is. the s&p 500 winners, top of that list are, boeing, of course. target's up there, tesla's up there. lockheed martin up there as well. nasdaq composite winners, who have we got? tesla's on there, dollar tree, kraft heinz, advanced microdevices. the 10-year treasury yield,st down to 2 the.# 4% -- 2.64%. i don't know whether that's a flight to safe i this morning or a recession indicator, but that yield is way down there. price of gold, $1785 per ounce. bitcoin, 23,000 and change per coin, and the price of oil, $93 a barrel. nat gas also on the downside, below $8. and we have the average price for a gallon of regular, $4.21 this morning. how about that? california, $5.60. coming up, senator manchin refuses to say if he would support president biden in a run in 2024. watch this.

>> would you support him if he did run in '24some. >> i'm not going to get into thf politics between now and then. stuart: we'll get into it. and a new study shows the democrats' inflation reduction act will not cut inflation. edward lawrence has the story right after this. ♪ keep on flying. ♪ while people keep on dying ♪♪

the 10-year treasury yield, dogs have been such an important part of my life. the 10-year treasury yield

and i new i needed to do something so i started taking prevagen. i realized that i was much more clear and i was remembering the details that i was supposed to. prevagen keeps my brain working right. prevagen. healthier brain. better life.

♪ stuart: the democrats' new spending plan is actually called the inflation reduction act of 2022. however, there's a new study, and it shows that the plan will not reduce inflation. ed warped lawrence is with us -- edrd ward. could it actually make inflation worse? >> reporter: some speculating maybe that's the case. as you know, it raises taxes.

it has more of build back better agenda that the president wants in it. a penn wharton model shows it will actually not lower inflation over at least the next two years, for example. you know, the spending in this plan for energy and security and climate change, $369 billion. total spending on affordable care act extensions, $64 billion. that's $433 billion in new spending on top of already all that money that's sloshing around in the economy. so over the weekend the minneapolis federal reserve president neel kashkari also a saying this bill will not lower inflation at least in the near term, listen. >> for the next couple years, it's not going to have much of an impact on inflation. it's not going to affect how i analyze inflation over the next few years. over the near term, we have an acute mismatch between demand and supply. >> reporter: so republicans are saying that mismatch due in part to government spending.

president, president biden, argues that we need more government spending to help the transition to stable, slower growth. so i asked this: when can americanss expect that transition to be over? >> so it's happening currently, right now. that is what we're stepping into. we see that. we see that, a little bit of a cooling, right, with the jobs numbers that we see every month. and, again, that is expected. and so we'll continue to see that. >> reporter: yeah, that's what they're stepping into. yeah, just like the inflation, a transitory thing from last year, no date or length of how long in this transition will take and how long americans have to wait, stu. democrats say that the increase in taxes will cover the increase in spending. back to you. stuart: yeah, right. i believe that. stephen moore's with me. he's an economist. we need one. stephen, if the whole plan passed, what do you think the impact on the economy would be? >> well, first of all, i think to call this an inflation

reduction act is a joke. it's false and misleading advertising, and these guys should be thrown in jail for that kind of fraud. [laughter] and, by the way, i don't even agree with a lot of these economic models that you've been citing like the penn wharton model that says it'll have little impact on inflation. this is going to increase inflation, no question about it. what you've got here, stuart, as ed just described, you've got $430 billion of new government spending. obviously, that increases inflation. but don't forget on the tax side it also has -- we don't know the exact number, somewhere near $400 billion of new taxes if you include hose price controls on the drug companies. that is going to contract supply of goods and services, so that makes inflation worse too. so i anticipate that if this god with awful passage -- bill passes, that it will have a very, it will increase the rate of inflation. it's exactly the wrong hinge to do, stuart.

what we should be doing right now is dramatically cutting government spending and cutting taxes. this bill does just the opposite. stuart: yes, indeed, it does. now, steve, i saw that your op-ed is titled "the left wants to abolish everything, even this column." [laughter] you call liberals the new puritans. you've got 60 seconds to make your case. go. >> well, everything from refrigerators to now plastics in california, hay want to get rid of those, they want to get rid of lightbulbs, just about everything they want to regulate. and this is the kind of new puritanism. they want to get rid of menthol cigarettes. now, i'm not pro-smoke, but i think people should have the right to smoke if they want to. it's interesting, isn't it, that the left which wanted to legal legalize all the drugs in the '60s, now they want to make everything illegal. i'm kind of live and let live, but this is amazing. her coming after your household appliances.

the left's new thing is refrigerators use too much energy. remember the old iceboxes back before we had refrigerators? they don't use any emergency, so maybe that's what we're going to have to use. stuart: i remember the day we got our first refrigerator back -- that's no joke. >> they actually want new devices where they're going to regulate the temperature so you're not going to have control of the temperature in your house, big brother will. stuart: oh, jeez, i can't wait. stephen moore, i'm going to reread your op-ed. >> they banned it. they banned my column. [laughter] stuart: then we have the economist, professor paul drugman, he's -- paul krugman, he's sharing his thoughts. can you synthesize it? lauren: i can. he said there is no recession and, heck, the term recession doesn't even matter. >> none of the usual criteria that real experts use i says that we're in a recession right now, and what does matter, you

know, the state of the economy is what it is. jobs are abundant although maybe the job market is weakening. up inflation is high though maybe it's coming down. what does it matter whether you use the r-word or not? [laughter] lauren: what does it matter? but if this were happening in the trump presidency, he'd call it the depression, right? stuart: yes, he would. dead right. glad you got to that one. what do you think, dan? >> look, i think right now it's really about proving the macro with companies specifically. that's why this earnings season is so pivotal for investors and wall street. stuart: yep, you got it. dan, you not done yet. you've got 10 minutes left. on your screens this is the result of 28 minutes' worth of business. dow's down 100, nasdaq down 38. now, coming up, eric trump, he's given a strong hint -- or has hr intends to run in 2024. he useded a golf bag with the words trump 2024 written on them.

the rnc, republican national committee, however, they sent a warning to the former president. hey, if you announce early that you're running in 2024, we will stop paying your legal bills. ronna mcdaniel on that, she's next. and then there's this: a group of washington post opinion writer ranked who they believe will be the democratic nominee in 20 this. who -- 2024? who came out on top? vice president kamala harris. joe concha dive into that one. ♪ pleasure. ♪ ♪

[sfx: ding] [message] hey babe, meet us at the bottom of the trail. oh, man. hey! open up! the redesigned chevy silverado. with a sophisticated, high-tech interior... open the door! it's easy to forget it's a truck. ♪♪ - thanks. - nice truck! it was. find new style. find new roads. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.

♪ 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 relationship with my credit cards wasn't good. i got into debt in college and, no matter how much i paid, it followed me everywhere. between the high interest, the fees... i felt trapped. debt, debt, debt. so i broke up with my credit card debt and consolidated it into a low-rate personal loan from sofi. i finally feel like a grown-up. break up with bad credit card debt. get a personal loan with no fees, low fixed rates, and borrow up to $100k. go to sofi.com to view your rate. sofi. get your money right. ♪♪ millions have made the switch from the big three sofi. get your money right. to xfinity mobile.

that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network, with the carrier rated #1 in customer satisfaction. that's a whole lot of happy campers out there. and it's never too late to join them. get unlimited data with 5g included for just $30 a line per month when you get 4 lines. switch to xfinity mobile today. municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio.

hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income... are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217. stuart: major corporations are warning about cracks in the economy. what's that mean? lauren: it's a washington post story, and it says big tech names, retail companies, consumer giants are all saying spending is starting the to slow in some niche areas. these are companies on the front lines, right? and they say the cracks are forming. walmart and best buy, procter & gamble, the consumer is not buying as much. tim cook of apple cited

macroeconomic events for slower growth, for instance, in sales of their accessories category. so even apple with -- in that respect, it's slowing. stuart: we were just talking during the commercial break, and dan says, look, tim cook at apple will go down -- certificate jay far della, will go down as two of the best ceos ever. that's a song statement. >> being able to navigate the transitions in microsoft and apple are really stunning, and i think this quarter's just another example. outside of them having capes and being superheros, they've done everything. [laughter] stuart: far della at microsoft, i had the good fortune to invest in microsoft 20 years ago. he really developed the cloud. more than anything else he did for microsoft, it was cloud. am i right? >> he transformed the company. he was able to see the forest

through the trees and ultimately transform microsoft into now what it's become. i think the you look at their success, he's had golden touch. stuart: he sure has. and tim cook at apple as well. a remarkable performance. dan, thank you very much for joining us. i enjoyeded it. >> me too. stuart: you'll be back. still ahead, what have we got? ronna mcdaniel with, senator marsha blackburn and dr. marty makary. the 10:00 hour of" varney" is next. ♪ ♪

my little family is me, aria, and jade. just the three of us girls. i never thought twice about feeding her kibble. but about two years ago, i realized she was overweight. she was always out of breath. that's when i decided to introduce the farmer's dog to her diet. it's just so fresh that she literally gets bubbles in her mouth. . . if you used shipgo this whole thing

wouldn't be a thing. yeah, dad! i don't want to deal with this. oh, you brought your luggage to the airport. that's adorable. with shipgo shipping your luggage before you fly you'll never have to wait around here again. like ever. that can't be comfortable though. shipgo.com the smart, fast, easy way to travel.

♪. brian: all right. i've had enough of that particular i think. i sea a quite a bit of the empire state building on the program in the last 12 years. let's move on to the market. we've been in business less than a half hour. dow down 24, nasdaq up eight.

there is not that much movement on this monday morning. this is kind of unusual. we had a terrific week last week. july was a great month. you might expect a selloff this monday morning, not happening, at least not yet. 10-year treasury yield, that continues to show very low yield, 2.62%. i have to say, i don't know whether that is a recession indicator or whether it is a flight to safety, you know, get into safe treasurys as opposed to risky stocks. i'm not sure which way around it is. the yield just dipped again, 2.61% as we speak. oil well under $100 a barrel. it is down to 93 bucks as we speak. bitcoin holding on to the gains of last week, 23,000 bucks per coin. that ask what we got right now. latest read on manufacturing, justing out. susan, sorry, lauren what you got. lauren: 52.8 in the month of july. that was stronger than expected. what the fed likes to watch,

prices paid component, has inflation peaked? how expensive to produce items. it fell for the fourth month, it fell to a sharp 60.0, inflation is coming down cord to this report on manufacturing sector. brian: no impact on market. lauren: the dow was down 70 when the number wailings released. brian: we'll change the subject. start talking golf. the liv golf tournament didn't get mtv time. not much coverage in the sports page this morning. that is unfortunate. my opinion golf changed this weekend. the liv tour is difficult from the establishment pga tour. looks different, sounds different. the way liv plays the game, the game is different. all around the course there was loud music as some players were teeing off.

it was a shotgun start. so all players teed off on different holes. instead of the round lasting all day, it lasted five hours. there is no cut. everyone made serious money. henrik stenson won, took home $4 million. the player who came in dead last got $120,000. the saudis have shaken things up. they are not going away. they may bring in a new generation of golfers who love the approach. how long before a streaming service picks up the liv tour? the pga should be getting nervous. the second hour of "varney" just getting warmed up. ♪ brian: well, well, we have a star in our midst this morning. rnc chair ronna mcdaniel. that would be the republican national committee chair. >> great to be with you on the

new set. fancy digs. brian: built it totally just for you. >> i believe that, stuart. brian: let's get serious, the republican national committee, hey, mr. trump, if you declare for the presidency, 2024, declare now before the november elections, we, the rnc we're not going to pay your legal bills. you really don't want him to declare early, do you? >> this is such a non-story, we can't pay legal bills for candidate announced. it would be in-kind donation. it is violating the law. we're happy to support president trump on the legal bills have been racked up in political witch-hunts by the new york attorney general trying to you know, bring him down. she said i'm going to run for office to bring down trump. it happened while he was president. we're supporting him. brian: you cannot simply noll allowed. >> cannot. not allowed to for any candidate. brian: whether you want to or not? >> whether you want to or not,

it is the law. brian: you're a diplomat. >> i follow the law. i obey the speed limit all those things. brian: democrats i'm told, facing backlash for bolstering the campaign of far-right republicans. watch this. >> this is risky and it is hypocritical. i think it means democrats cede the high ground on this. >> embarrassingly hypocritical. the dnc is not god. it cannot guarranty the outcome of general election. when you prop up a conspiracy theorist in republican primary, you send risk of sending an extremist to the united states congress. this, sr. bad news of democrat resources. brian: do you mind if democrats give to republicans? >> that is so desperate. why not support their own candidates? they have no message to run. if they feel good about what joe biden is doing wouldn't they put money behind the democrat candidates. they're not. brian: the democrats think it is easier to beat a maga republican than moderate republican.

>> they have 35 retirements in the house. they will have very tight races f i were incumbent democrat look at a tough race i say this is where you're spending your money instead of on me, i will have a tight race against tom barrett. all across the country democrats will have tight races. the dccc is wasting money meddling in our primaries. brian: you win 40, 50, 60 seats in november? >> that is not fair. we'll take back the house. that is retiring nancy pelosi take back the senate. brian: not fair? are you going to win. >> i can't do that. it is not fair. we won 15 in 2020 nobody respected. four to retire pelosi. that is pretty good odds. brian: you cannot pay the legal bills of donald trump if he declares. >> you cannot. it is in-kind donation. that is the law. i never break the law. brian: you're all right. thanks so much for joining us. >> thanks, stuart. brian: really do. back to the market. i see the dow we're up 30 odd

points. i'm interested in some moveers, perkinelmer. what do they do? lauren: scientific research company. they're number one on the s&p 500. the reason is they raised full-year guidance and the reason they said they will sell off some of our businesses and in private equity company to 200 billion in cash. they will keep some units. change their name, get a new ticker symbol for that at a later date. brian: here is a group of stocks often mentioned recently, dating stocks, matchmaking stocks, what you want to call them. bumble down 3%. what is the problem? lauren: jeffries cut them to hold, raising price target by nine bucks to 39. go figure. the reason for the downgrade, bumble margins cannot do as well as catch up to the rival match. brian: shrinking margins in dating company. lauren: it's a business after all. brian: on, o-n, semiconductors

hardly -- lauren: it was down four out 5%. i was talking to dan ives about this in the past hour. better-than-expected earnings and they raised their guidance. dan said this company is more exposed to pcs. that market is slowing than other chip giants. not moving down. brian: essentially flat. show me airbnb. there is a reason i'm putting that on the screen. jeff sica is here. he says airbnb will have the most important earnings out this week, the most important of any company reporting this week the most important is airbnb. make your case? >> i would say if you look at airbnb, the stock has gotten massacred, down 50% from its peak. a lot had to do with concerns, inflation, the slowing economy was going to cause people to reduce the amount of money they spend on travel. so the stock got annihilated.

now they're, but what is interesting about airbnb, they were consistently beating earnings and beating revenue and consistently growing. so a lot of this decline had to do with the fact that there is this sentiment out there which was negative. now what they're reporting is this, this is a proxy on the travel industry, which is, which is projected to be about a trillion dollar industry. this is a proxy on consumer spending. so i think it is very important to see what comes out tomorrow. brian: you think they're going to do well? >> i think they will do better than expected. i think we'll see revenue numbers in excess of $2 billion. i like the stock at this level. what i really like about airbnb is the fact that their capitalizing on this need for short-term rentals. here you have a deficiency of, a deficit of about 8 million apartment units in the united states. airbnb is offering apartment

units for short term. that is going to be a big revenue earner for them going forward and now. brian: i got this new report, you're part of this, and it says that jersey city, a place that many of our viewers will never have heard of, but jersey city in new jersey is the most expensive place in america for renters. the average is $5500 a month. i can hardly believe that. that is more expensive than new york city. i'm laughing, you are the owner of whole apartment blocks in jersey city, aren't you? >> yes. brian: aren't you? made a father tune, haven't you? >> not dwight. not yet. a lot of what we're seeing right now, we owe things to new york city because what is happening is, people were willing to pay high rents in new york city. now they're deciding to move to jersey city which i absolutely love the city. we made a big bet on it years

ago. it turned out to be a good thing. i'm saying the average rent in jersey city is $5500 a month. the average rent in new york city? is 5,000 a month. what i would love to do for people is show them the difference between a new york apartment at $5,000 a month and a jersey city apartment, overlooking the new york city skyline for 5500. you get way more there. but there is a negative to this. there is a flip side to this coin and what that is, is there is a deficit right now. there are not enough apartments being built. the supply is so low that rents are skyrocketing. >> doing the best to fill the gap. very interesting guests this morning. i asked provocative questions have i not, ronna? >> i haven't gotten any yet.

>> try this. ceo of google. stuart: ceo of google is cracking down on employees. lauren: sundar pichai said we have too many staff, you're not producing enough. he couched the missive in all hands collaborative effort. increase costs. calling it operation simplicity sprint. i think the message was a lot more stern than the sugarcoating of it. they're spending a lot of money. stuart: i'm interested in this. new report. millenials made a lot of money during the pandemic. how did they make money? invest in the stock market? lauren: yes. they got stimulus checks but didn't have to pay their student debt for two years. the big reason they bought real estate, houses, especially older

millenials which are 40 years old. over that, two years during the pandemic, the h their net worth, five trillion dollars. it is $127,000 each as of the first quarter this year. stuart: kind of a bogus statistic you ask me. lauren: that is the statistic. stuart: smart enough in their 30s to get into a house they're doing well. lauren: a lot of people did. they didn't have to live in the city anymore, because they were remote working. stuart: i will remember this. what a great first block of the show. president biden is back in isolation after testing positive for covid the second time. dr. marty makary is on the show later. he will tell us everything we need to know about rebound cases. a top chinese official is doubling down on warnings on speakser pelosi visiting taiwan. chinese army telling their citizens, prepare for war. stuart: joe manchin rushing to explain why he now support as massive spending deal. roll tape. >> last year you said the

american rescue plan, the covid relief bill would not cause inflation. so yod should americans believe you now that you say this new bill will not exacerbate inflation? >> i made sure i don't make that mistake again. stuart: that is quite an answer, isn't it? tennessee senator marsha blackburn says build back broke is bad news for your pocketbook. the senator joins us after this. ♪ only at vanguard, you're more than just an investor you're an owner. that means that your goals are ours too. and vanguard retirement tools and advice can help you get there. that's the value of ownership. your shipping manager left to “find themself.” leaving you lost. you need to hire.

i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire bubbles bubbles so many bubbles! as an expedia member you earn points on your travels, and that's on top of your airline miles. so you can go and see... or taste or do absolutely nothing with all those bubbles. without ever wondering if you're getting the most out of your trip. because you are.

i grew up an athlete, i rode horses... i really do take care of myself. i try to stay in shape. that's really important, especially as you age. i noticed after kids that my body totally changed. i started noticing a little pudge. so i took action! coolsculpting targets, freezes and eliminates treated fat for good.

no needles, no incisions. discuss coolsculpting with your provider. some common side effects include temporary numbness, discomfort and swelling. you've come this far... coolsculpting takes you further. visit coolsculpting.com this is xfinity rewards. coolsculpting takes you further. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app.

stuart: a senate committee has released a report who would be hit the hardest by the democrats

new tax-and-spend plan. so who is going to get hit the hardest? lauren: manufacturers. stuart: manufacturers? lauren: a lot of people think big tech because you think they're the biggest companies. joint committee on taxation which is non-partisan. manufacturers will pay 49.7% of revenue that comes in getting hit with a 15% minimum corporate minimum tax. national trade group representing manufacturers says this tax bill will be swift and devastating to them. we're talking about job losses, lower production. think about the manufacturing sector, everything they're being hit by to diesel, transport items, supply chain, higher interest rates and now higher taxes. stuart: the president says he wants a renaissance in manufacturing and then sticks them with a whopping great big tax. i don't get it. we have senator joe manchin defending the new spending plan saying it will not worsen inflation. senator pat toomey says that's false. listen to both of them.

>> why should americans believe you now you say this new bill will not exacerbate inflation? >> i made sure i don't make that mistake again. that is the bottom line. >> it will make inflation worse actually. so they have got a big corporate tax increase that is going to probably make this recession that we're in worse. all of this spending is unnecessary. it is going to exacerbate inflation. it is not going to reduce the deficit. i'm a big fan of joe manchin. we are friends a he said, i like joe very much but i think he got taken to the cleaners. senator marsha blackburn welcome back. always good to see you. whose side are you on, manchin side, it won't create inflation, toomey's side it will create inflation? >> well you look at the joint tax committee, look at the penn wharton study. they say it will increase inflation. joe manchin is a good man, but if you have a 15% corporate tax

in there, that is a tax increase. if you eliminate carried interest, that is a tax increase. who do we know ultimately ends up paying all the taxes? it is the people that will end up paying more taxes and on top of this, you put the $80 billion they're wanting to put into beefing up the irs, saying we want the irs to go after tax cheats. we know that what that means is more audits for more small businesses, which is going to make it harder for them to make a profit and stay in business. stuart: i, as i understand it the senate goes on recess midnight friday i think, which means you have only five days to push through this whole thing through. >> yeah. stuart: you have to get all 50 democrats on board. nobody can be absent for isolation, for example. that is going to be a real tall order to get all of this through and passed in five days.

i would say it is impossible. what say you? >> i would say it is going to be very difficult for them. bear in mind this would be another $739 billion in government spending. last week, though spent nearly 3 billion on the chips plus bill. and now you've got this with 370 billion for green energy? you've got 64 billion in obamacare subsidies. 313 billion in new taxes. that is a lot, a lot of spending and stuart, the more people hear about this they're going this makes no sense to me. stuart: true. >> because they know it is the small business manufacturers, people that are supplying the auto industry, the appliance industry, people that are doing plastics, tool and die

manufacturing, these are the people are going to find this to be an unbearable tax burden because they have no way to spread that cost across their own supply chain. stuart: would you just care to weigh in on the possible visit of speaker pelosi to taiwan? do you think she should go? >> oh, absolutely, yes. she should go. we should never allow the chinese communist party to dictate our foreign policy and we know that they tried to use their propaganda arm to spread their influence. we have seen this, they continue to do it, whether it is great power competition and dealing with the military, dealing with the belt and road initiative. they're trying to force other countries to recognize them as the globe's superpower. we cannot give in to them.

members of the house and senate have been going in and out of taiwan for years. i have been to taiwan. on multiple occasions and we need to continue to go with taiwan. we've got legislation right now that some of us filed last week. stuart: we can't back off. >> we begin the lease program with them. stuart: we can't cancel the visit because the chinese say can sell the visit. can't have that. senator marsha blackburn, republican from tennessee. always appreciate it. >> good to see you. stuart: the u.s. navy is developing new drones to keep up with china. there is something different about these drones, isn't it? lauren: they go underwater. they go underwater drones. the navy is developing them to keep pace with china which is really expanding its fleet. the budget to develop them? $433 million. they're not that precise just yet but they're getting there. i guess it is cheaper than building ships to put he everywe

there. stuart: $433 million just like that. half billion here, half billion there thanks, lauren. a popular sunscreen is being pulled from shelves because of a cancer-causing chemical. in a moment we'll tell you which sunscreen you might want to avoid this summer. you might consider your car an absolute necessity, but the world economic forum, the davos people, they don't think so, they want you to give up your car to cut emissions. jeff flock as the story next. ♪.

moving forward with node- positive breast cancer is overwhelming. but i never just found my way; i made it. and did all i could to prevent recurrence. verzenio reduces the risk of recurrence of hr-positive, her2-negative, node-positive, early breast cancer with a high chance of returning,... as determined by your doctor when added to hormone therapy. hormone therapy works outside the cell... ...while verzenio works inside to help stop the growth of cancer cells. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor, start an antidiarrheal, and drink fluids. before taking verzenio, tell your doctor about any fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death.

life-threatening lung inflammation can occur. tell your doctor about any new or worsening trouble breathing, cough, or chest pain. serious liver problems can happen. symptoms include fatigue, appetite loss, stomach pain, and bleeding or bruising. blood clots that can lead to death have occurred. tell your doctor if you have pain or swelling in your arms or legs, shortness of breath, chest pain, and rapid breathing or heart rate, or if you are nursing, pregnant, or plan to be. i'm making my own way forward. ask your doctor about everyday verzenio.

talisker resources is ready to dominate - with two i'm making my own way forward. fully permitted resource assets; an upcoming maiden resource at its flagship gold project in

southern b.c.; and a vast pipeline of world class greenfields projects. talisker resources. stuart: the markets this morning, no clear price trend. mostly down. there is some red ink. the dow is off what, 100 points? nasdaq down eight. that is it. some stocks are seriously moving like boeing, up five 1/2%. what is the story? lauren: the story is that reuters reported on friday night, faa approved the plan to resume the 787 dreamliners. they have been sitting halted since may of 2021.

stock up 5 1/2%. stuart: huge gain of company that size. doing the dow a lot of good. evo, payments. lauren:1% to the upside, four billion dollar deal from much larger rival. this helps global payments. the bigger company expands to where it isn't. they will have a bigger global footprint. stuart: target? lauren: wells fargo up graded raised the price target to 95. they were hit by the whole supply chain. too much inventory at one point issue. they will recover faster than their rivals. target is up almost 2%. stuart: it is. then there is this, the world economic forum wants to reduce car ownership as a way to reduce our fossil fuel usage. jeff flock is in jenkin town, pennsylvania. what are the swiss yesterday letters saying about cars, jeff? reporter: i think you're the kind of guy who is going to say,

if they want the keys to my f1 50 they will have to pry them from my cold dead hands. stuart: yes. reporter: here is what they say, mr. varney, look what the report says, they're concerned about the scarcity of metals required for batteries. look at this shifting to evs requires huge amounts of critical metals like cobalt, lithium, nickel. recycling alone won't be enough. we need to increase sharing of vehicles. they would like to move to a model we share cars. we don't actually own them. how do you do that? well you impose congestion charges, the report says. it cites eliminating parking spaces so you don't have a place to park? well you can't drive. car exclusion zones you can't even drive on some city streets. then car sharing which of course happens now. we talked to ed garston long time auto writer in detroit.

that could work in europe some places but here maybe not. >> this is america. they want the freedom to go where they want to go, when they want to go there. if it is difficult to get to a place, they simply may not go there. reporter: stuart, i leave you with the inflation reduction package that is seemingly going to be approved. 75 -- evs are coming whether we like it or not, 7500-dollar credit, tax credit, if you buy one although they have changed the rules a little bit. you have to make less than $225,000 in order to qualify. you have to buy a reasonably affordable electric vehicle,0,000 or less for a truck and 55,000 or less for a sedan. i don't want to try to take your car away from you. i could be in trouble. stuart: that is the smart thinking there, jeff flock, very smart thinking. fine report, jeff. reporter: mom raised no fool. stuart: if you're not careful we'll come back to you for more.

jeff flock, everyone. price per gallon for regular gas, 4.21, down 60 cents from one month ago. patrick de haan, gas buddy guy. patrick is back. are prices to keep going down? what are you seeing before labor day? >> stuart, we'll continue to see that, absent a hurricane. tropics are quiet. if we're lucky, that f-150 you are talking about filling up you could fill up under $4 a gallon or so. in 250 hours i expect that to happen. 19 states are under four dollars a gallon. things could change, don't hold my to it, a couple of stations in south carolina, texas, falling under $3 a gallon if oil prices continue to fall. stuart: how about diesel though?

national average of diesel down to $5.27. that is down 50 cents in a month roughly speaking. does the price of diesel keep going down? >> well, stuart i think that story is little bit more challenges. global market for diesel is much tighter. diesel inventories are extremely tight, especially along the east coast. diesel prices will continue to moderate. whether or not we fall under five dollars a gallon for diesel is story. one shutdown, one hurricane, diesel prices will spike. i think there is momentum for that to happen. keep in mind, diesel heading into the winter i expect inventories to be tight. gap between gasoline and diesel all-time record over well over a dollar a gallon. stuart: how have drivers changed driving hab gets? we went past 5-dollar gas. down to 4.21.

how have we changed, the way we drive or how often we drive? >> gas buddy data on consumption, americans are returning to the pumps more and more often. we're lovers of low gas prices. we've seen data go up. gas buddy said u.s. demand is up 2% than the week prior. 4% higher than the four-week average. according to our models, we saw higher demand than we did ahead of the july 4. those 3.9 the prices are causing americans to increase demand a little bit. everyone is rushing to fill their tanks while low prices are here. stuart: gas buddy guy, patrick de haan. thanks for being here. >> thanks, stuart. stuart: ferrari announced plans to jump into the electric vehicle market. tell me more, lauren. lauren: they will have an ev in the market 2025. not a hybrid. full electronic vehicle. it will be bigger than a sports car, you can pack a lot of people in there.

don't dare call it an suv. it will feel like a sports car. the engine will sound like a sports car. i'm not so sure it will roar like the traditional ferrari engine. they will develop some sort of electric ferrari engine sound. stuart: the acceleration everybody wants. a regular ferrari now, it takes off. lauren: have you ever owned a ferrari? stuart: no i have not. never owned one, never been in one. lauren: i've never been in a ferrari either. it's a dream, a girl can dream. stuart: all right. take a look at this, i will show you right now the mercedes eqx. there it is. lauren: that's nice. stuart: that is a full-sized luxury sedan. it is all electric vehicle, brand new. it can travel up to 620-miles on single charge. the starting price? eye-popping $102,000. actually, you got 6600-mile charge, range, that's not bad, 102,000. futuristic thing like a

mercedes. not bad at all i think. lauren: i'm glad you can afford that. stuart: okay, okay. let's move on. this is what i really wanted to show, this is incredible. a seven-year-old girl made a guinness book of world records of limbo skating. the girl is from india. skated under 20 cars in 13.74 seconds. the record was previously held by a girl in china. she held the record for 14 years. it was just broken by that one lady there. lauren: the straddle slight is so difficult. she is staining that for a very long time. stuart: that is extraordinary. if you popped head up for a second. lauren: she might have practiced. stuart: congratulations young lady, that is spectacular. stuart: now this a councilwoman facing growing calls to resign, after a shocking video allegedly shows her hitting a cyclist and taking off. we'll take you to that.

shoplifting is so out of control in cities shops are like fortresses. we'll tell you how many items are under lock and key. oh, lord. we'll be back. ♪ this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done.

i'm okay. we hit the bike trails every weekend shinges doesn't care. i grow all my own vegetables shingles doesn't care. we've still got the best moves you've ever seen good for you, but shingles doesn't care. because 1 in 3 people will get shingles, you need protection. but, no matter how healthy you feel, your immune system declines as you age increasing your risk for getting shingles. so, what can protect you? shingrix protects. you can protect yourself from shingles with a vaccine proven to be over 90% effective. shingrix is a vaccine used to prevent shingles in adults 50 years and older. shingrix does not protect everyone and is not for those with severe allergic reactions to its ingredients or to a previous dose. an increased risk of guillain-barré syndrome was observed after getting shingrix. fainting can also happen. the most common side effects are pain, redness, and swelling at the injection site, muscle pain, tiredness, headache, shivering, fever, and upset stomach.

ask your pharmacist or doctor about shingrix. shingles doesn't care. but you should.

♪♪ here goes nothing. hey greg. uhh...hello? it's me, your heart! really? yes! recording an ekg in 30 seconds. tada! wow, that was fast. you know it! kardia offers the only personal ekgs that detect six of the most common arrhythmias in just 30 seconds. so you can manage your heart health from home, or on the go. your heart rhythm is normal. no arrhythmias in sight. i wonder what my doctor would say. ooh! let's find out! with kardia, you can email your ekg directly to them or send it to a cardiologist for review. kardia can do all that? all that and then some, greg! kardia also gives you access to heart health reports and automatic ekg sharing. what next? let's get some fresh air. been cooped up for too long. yeah... ♪♪

kardia mobile card is available for just $99. get yours at kardia.com or amazon. ♪. stuart: the dow jones average is down 23. the nasdaq is up 52. interesting story there on a monday morning, you might expect some serious price movement in stocks after a big week and a big month, but no, not that much movement at all. the nasdaq is now up 50 points. there is this too, one popular sunscreen brand recall recalling some of their products tell me more. lauren: they are voluntary calling back three batches of spf 30 banana boat spray. check the cupboards, cab

et cetera nets because of trace levels of benzene. >> other hairsprays, things that aerosolize they are scary if you look them up. there are chemicals we know that can cause cancer. some of the chemicals, the particular in this one, benzene that is found in sick rhett smokes. it is linked to leukemia. that is not the only substance where you find the chemicals. if you can't pronounce the ingredients you shouldn't put it on your body. lauren: benzene is not in the production of the banana boat sprays, but found in the propellant. if you have have some of these sunscreens, throw them out. don't use it. stuart: before the break, pharmacies locking things up because of crime. but, lydia hu is doing a report and she witnessed this crime, this shoplifting taking place. just a couple of hours ago in new york city. lydia hu joins me now. you saw this? reporter: yeah.

hi, there, stuart. pretty unbelievable to capture this, not just with our own eyes, also on camera. our security detail actually saw this man walk into this story, pick up what appears to be rolls of toilet paper and paper towels. he walked right out with without paying. walked right in front of our cameras that were set up on the sidewalk in front of the store without breaking stride. pretty unbelievable. so bold to see what appears to be a theft in action. because of the rise of thefts here in new york city, drugstores are now resorting to more locks and keys to keep their products secure for their customers. food products like you can see here, honey, chocolate, pistachios, coffee, ice cream, in some cases spam now stored on the shelves under lock and key. some customers we talked to this morning, well they're concerned about this growing trend. watch. >> it's a little alarming because it makes you think like, why are they doing this? if they feel the need to lock up

such simple like things, i feel like most people would go in there and buy that is pretty alarming. reporter: the reason to lock up these products, experts with the coalition for law enforcement retail tell me is that these products are likely targeted by criminals multiple times over and over and over again so they can be resold on the black market. a spokesperson for walgreens which also owns duane reade is here in new york city, they said to us in a statement retail crime is one of the top challenges facing the industry today. we continue to take measures installing anti-theft devices and security personnel, for example, to deter theft to insure safety in our stores. look at some of the data, stuart. we know it is on the rise. new york city, theft of items under $1000 up more than 40%. chicago, another example, up more than 65 compared to last year. while it not be a new trend to

see some of the products locked up when you go into a drugstore, say over-the-counter medicine what is absolutely new to see the food products locked up on the shelves, stuart. perhaps that is a product of the rampant food inflation we're seeing taking shape this year. jar of honey, for example, worth a lot more now than it was last year, stuart. stuart: what a story. lydia hu, great stuff. thanks very much indeed, lydia. see you soon. shocking video shows the moment a councilwoman in new jersey plows down a cyclist. it is an apparent hit-and-run. okay, take me through this. is the lady going to resign? lauren: no. a spokesperson for amy degias says the councilman plans to compete her full term and continue in public service, despite thousands of people calling for her job. play the video this happened july 19th. accused the driving black suv, the biker in the yellow t-shirt gets hit. he at one point slides off her

windshield, hits the pavement. remarkably gets back up and walks to the sidewalk. she drove away. police were able to track down her vehicle using surveillance cameras. she says she will address what happens after the legal process plays out. but a lot of people are responding to that video because it is graphic to see. stuart: the driving away is the crime, got it, thanks, lauren. new study, millions of people are out of work because of long covid. good story. we've got it for you. president biden back in isolation after testing positive for a second time. not a god look for an aging president. joe concha deals with it next next ♪

♪ 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. ♪ we got the house! to make lifyou did!le better. pods handles the driving. pack at your pace. store your things until you're ready. then we deliver to your new home - across town or across the country. pods, your personal moving and storage team. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining

insurance. millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network, with the carrier rated #1 in customer satisfaction. that's a whole lot of happy campers out there. and it's never too late to join them. get unlimited data with 5g included for just $30 a line per month when you get 4 lines. switch to xfinity mobile today.

stuart: quick market check, not much movement. 57 up for the dow, 83 for the nasdaq. but i like the green there, left-hand side of the screen. a new survey shows millions of americans are out of work because of, long covid.

how many people are we talking about? lauren: four million. that is a huge number. these are people who are feeling long covid symptoms like fatigue, brain fog, the brookings institution, says this is 2 1/2% of the total workforce. you can't ignore that number. right now the administration is looking into ways, how do you classify people with long covid as people with disabilities? do you make come -- a accommodations for them open prattly in the workforce if they're still suffering for covid? it is so knew. we don't understand the impact offinglong covid. can you preet it? stuart: are these four million people home all the time. >> some say i am always tired, i have long covid. how do you measure it, quantify it, put it on paper. reading stories, former employees on the record, look my workload, my productivity decreased drastically after i had covid. i got warnings from my company.

no matter what i did i couldn't get my speed back up to par and eventually laid off. stuart: i hear it. >> it's a real issue. stuart: president biden, he is back in isolation after he tested positive again. it was a rebound case we hear. joe manchin is with us. i'm sorry, joe concha is with us. i almost called you joe manchin. that is kind of a promotion, joe. i made you a senator just like that. >> i thought manchin was behind me. he has covid too, doesn't he? what is he doing in my house. we get confused all the time. stuart: i know you do. we have an aging president here and he is back in isolation. i'm sorry, joe concha, but i don't think that is a very good look for the american presidency, what say you? >> you know we wish the president well of course, right. all indications according to his doctor he is doing fine. being in isolation is not exactly a foreign concept to mr. biden even when he doesn't have covid. he seemingly works 24/7. 24 hours a week, 7 months a year, stu.

there is the impression of this president, we see it in poll after poll, joe biden is not entering his 80s in a couple months in a good way. you had the recent harvard "harris poll" found 62% of americans believe joe biden is showing he is too old to be president unquote. when you break that down with voters that help decide elections, independents, 72%, stuart, 72% believe he is showing he is too old to be president. once you have that sort of perception it is i'm impossible to put the toothpaste back in the tube, it is impossible to reverse. because he is only going to get older. he wasn't very competent in the first place when he did have his fastball. stuart: how do you reverse that feeling or impact there? i'm sure you saw this joe, a group of "washington post" opinion writers ranked who they believe will be the democrat nominee if president biden doesn't run again in 2024. the list included vice president harris, transportation secretary pete buttigieg, california governor gavin newsom. i don't think there is much of a

bench strength in the democrat party, right? >> yeah. i try to look what the bumper sticker would be for each of those candidates. all right. so for the vice president kamala harris, i'll do for america what i did for the u.s. southern border. that is not really going to fly. pete buttigieg i will do for america what i did for the supply chain getting on a commercial flight on time or being canceled. that will not work either. for gavin newsom i will do for america what i did for california? i don't know what the folks will run on if we look at their record. you're right the bench is very thin. some folks bring up hillary clinton, the 2016 democratic nominee. she is o-fer running for president, when she lost to barack obama for nomination and lost to donald trump who had zero political experience in 2016. things not looking for democrats right now. if joe biden is the best option, polling at 31%, stuart, that ain't good either. stuart: do you have any names of

outsiders who might chunk a hat into the ring and take the nomination at the last minute, any ideas? >> well you mentioned joe manchin before and he would be a decent choice because he could probably bring in some independents although what he is doing with this latest inflation reduction act bill, been supporting that, that may hurt him. overall it is hard to find some folks. the kentucky governor i find interesting in beshear. he is somewhat after democrat. obviously governor of a red state but he is not very well-known. i don't know who can step in here at some point. sometimes we hear about michelle obama. no, i don't see that being the greatest option either. i don't think she wants the job anyway. as of now, i don't know. if you asked me in 2014 who would be the republican nominee i don't think i would have said donald trump at that time. stuart: exactly. >> that is where we are, stu. stuart: we're up in the air. joe concha, thanks for being here, joe. see you real soon. coming up lara trump,

miranda devine and dr. marty makary. you know it is called the inflation redetection act of 2022 but it will not reduce inflation. we're told only the rich with will pay more in taxes. that is not true. you will pay more even if you make less than 200,000 bucks. that is "my take." that is next. ♪ ...

trelegy for copd. [coughing] ♪ birds flyin' high, you know how i feel. ♪ ♪ breeze driftin' on by... ♪ if you've been playing down your copd,... ♪ it's a new dawn, it's a new day,... ♪ ...it's time to make a stand. start a new day with trelegy. ♪...and i'm feelin' good. ♪ no once-daily copd medicine... has the power to treat copd in as many ways as trelegy. with three medicines in one inhaler, trelegy helps people breathe easier and improves lung function. it also helps prevent future flare-ups. trelegy won't replace a rescue inhaler for sudden breathing problems. tell your doctor if you have a heart condition or high blood pressure before taking it. do not take trelegy more than prescribed. trelegy may increase your risk of thrush, pneumonia, and osteoporosis. call your doctor if worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain occur. take a stand and start a new day with trelegy. ask your doctor about once-daily trelegy, and save at trelegy.com.

and it's easier than ever to get your projects done right. with angi, you can connect with and see ratings and reviews. and when you book and pay throug you're covered by our happiness check out angi.com today. angi... and done.

>> joe manchin, he's a good guy basically but when joe says this isn't going to raise taxes, i tend to think that maybe, we should never elect people who have never signed the front of a paycheck and has only signed the back of one. >> the street thinks we're in a recession and that speaks loud in a negative environment we see going into the stocks. >> you can't pull that down because the chinese communist party sends out third rate propaganda to threaten the united states of america. >> now i'm looking at dramatically stomping on the gas because if the leverage comes back, if the big tech is eased with the numbers on the table then it's not going to only pull higher, stuart, but accelerate higher. >> i think to call this an inflation reduction act is a joke. >> you've got what, $430 billion of new government spending. obviously, that increases inflation. >> we're going to take back the house. that's four so retiring nancy pelosi wanted to take back the

senate. ♪ stuart: we're back to the empire state building? lauren: isn't she lovely though? stuart: yes but it's covered in cloud. it's an ugly building to the left there. don't much care for that. "isn't she lovely" lauren: stevie wonder. stuart: let's go. it's 11:00, it's 11:01 actually, eastern time. it is monday, august 1. look at that market. now we've got some green. we are seeing some price movement, dow is up nearly 100, nasdaq is up nearly 100. show me big tech please. all of them have turned around. i think they all opened lower, and now, they are all slightly higher. meta platforms gives u2% and amazon also up 2%. maybe this is why. the yield on the 10 year treasury, look at that. it has dropped below 2.6%. you're now at 2.599. that really does help those big tech stocks.

as for bitcoin, slightly lower. you're off 400 bucks at 23, 500 and now this monday morning, jason katz joins us to look at this market. obvious first question. is the bear market over? >> we've shifted from a fear of missing out market to a fear of losing money-market, back to a f omo market. translation, translation. stuart: yeah, okay. go on. >> there's a disproportionate amount of hedge funds and money managers that are under weight and short, so when you have price action like last week, you have a lot of capital chasing performance right now, so are we at a bottom i've said this to you before in the show. i think with respect to the average stock in the stock market, yes. maybe not the average indices but the average stock, yes. stuart: there seems to be a widespread belief on wall street that the fed will not keep going aggressively. what do you say to that, that in

fact the fed will pivot. >> i think we're getting a bit ahead of ourselves to count on the fed pivoting. i think the fact that there is light at the end of the tunnel as far as them raising rates are concerned, and that we have a two-month stint before they actually can make that move, it truly will allow them for the first time in a while to be data dependent and i do think you're going to continue to see inflation come off the boil and you're going to continue to see earnings that are proving to be a little bit more resilient, so i'm not so sure i'd count on the pivot right away, but i would count on the fact that they are going to ease off the gas. stuart: i don't see many people on wall street forecasting we're going over the cliff. i don't see many people saying oh, the next big one it's coming just around the corner. watch out folks it's going to really big sell-off is coming. i don't hear that much these days. >> and i think that's right. you and i have been around a long time and you think about the other downturns that we've had. this does not rival that. when you have sub-4% employment,

unemployment, and when you have corporate balance sheets, bank balance sheets in the kind of shape that they're in and you have earnings that are pretty decent, you know, earnings news is being absorbed really well. it's just not the setup for anything ominous. by the same token, i'd characterize this as more likely a w-shaped recovery. we had the big pullback, we get a spike. we may retest. the last leg of that w stu, is probably going to be a grind. this is a two to three year process to recover what we went through but i think the worst is behind us. stuart: it's nice to get out on a monday morning after a great month and week and there's no huge sell-off. that's a nice feeling isn't it? >> it sure is because every monday, in recent memory, it was like now what? i'd shaken my boots before i had to come on your show because i knew we were in for it. stuart: i was going to say have we hit bottom yet? you were doing your best not to answer with a yes-no answer.

jason katz thank you very much indeed. minnesota fed president neil cashkari issuing a warning about inflation. lauren: he said it's broad and concerning. >> it's very concerning. we keep getting inflation readings, new data that comes in as recently as this past week and we keep getting surprised it's higher than we expect and not just a few categories. it's spreading out more broadly across the economy, and that's why the federal reserve is acting with such urgency to get it under control and bring it back down. lauren: well he didn't admit recession, what he said means the fed is hiking rates in a technical recession. stuart: okay. lauren you're also looking at some of the movers on the market this morning including halliburton. lauren: yeah. stuart: it's down 4%. lauren: one of the biggest decliners today, it's an energy company, a service company and we've got our manufacturing numbers here but they got them out of china too and it contract ed in china so you're seeing a lot of the energy names down because those less-used

from the world. stuart: that's zero covid policy that's really hurting badly. lauren: uh-huh. stuart: then we've got dollar tree active recently and they are up big this morning, 2.5%. lauren: so is dollar general. dollar stores are helping families cope with high prices. so that's where folks are buying cheaper shampoo and toothpaste. the essentials, but also, food. dollar general is actually increasing the number of stores that carry groceries. stuart: got it. ford motor company, i know they are active. i know they are moving up what's the story? lauren: 4.5% gain basically. they want to let customers order electric vehicles online instead of through a franchise, this is what tesla and other competitors do so their goal is to make 2 million ev's a year by the year 2026 and cut out the middleman, sell them online. stuart: maybe something else is going on with ford as opposed to just that because that's a healthy gain, 4% right there. thanks lauren all good stuff. now this. it's called the inflation

reduction act of 2022, but, it won't reduce inflation. we're told that only the rich will pay more in tax. that's not true. you'll pay more even if you make less than 200,000 a year. it's supposed to cut the deficit , oh, but not until 2027. the president says he wants a renaissance on manufacturing but this tax plan hits american manufactures very hard. oh, dear what a mess. what a dreadful bad policy. despite it all, however, there's a mad rush to get this giant tax and spend bill passed. senator schumer has just five days to get it done, because summer recess, that begins this friday night. he's going to get every democrat senator on board and voting in person, so there can't be a covid isolation problem. you've got to be there on the floor. this is no way to fight inflation, or recession. it's a last minute planned kabul ed together so the cumulatives can get a tax and spend package on the books before the november elections.

i hope at least one democrat in the senate figures out that the inflation reduction act of 2022 is bad policy and bad politics too. miranda devine with me now. do you think this will pass the senate before the august recess in its entirety? do you think they can get it done? >> look, i don't know. i guess there's a lot resting on chuck schumer's shoulders, but look, they should be a truth in legislation act at some point, because the democrats keep on lying. they use these orwelian titles like inflation reduction for legislation that does no such thing, does the opposite. nancy pelosi is a master at this she has, you know, she keeps on talking about how she's passing legislation for the children, or there was one for the people who was about rigging elections. it was just for the democrats. american dream bill, that was

not for americans. it was for illegal migrants so the democrats are trying to fool the american people and i think since people are now sort of red -pilled and wide awake because their pocketbooks are hurting, they know that spending a few hundred billion more pumping that into the economy is bad, because it increases inflation, and they know that raising taxes and lying and pretending that it's not going to affect you when as you said people earning under $200,000 a year are going to get taxed, and i think 16 billion extra taxes on them. this is devastating. it's not going to help the economy. we're in a recession even though they lie about it. stuart: but are the republicans, perhaps, getting a little over confident? >> look, that's interesting you say that because the polls are showing that the congressional lead is shrinking somewhat. i think that's sort of to be expected around this time of the

election cycle, because there's a sort of exuberance at the beginning that everyone hates joe biden, everyone hates the democrats, and then the reality is, well, other republicans just are doing or saying to the voters, well we'll be a little less bad. they've seemed to have voted for a lot of democrat legislation which is bad for the economy. stuart: okay, i'm going to wrap it up right there, miranda, got to move on thanks for being with us. >> thank you, stuart. stuart: sure thing. south dakota prohibits biological men from competing in women sports. because of that, the administration is now threatening to takeaway the state school lunch resources what's with that? we've got the story for you. senator joe manchin won't say which party should control congress after the mid-terms. roll tape. >> do you hope democrats keep control of the house and senate? >> oh, you know i'm not making those choices or decisions on that. stuart: we're going to be all over that one believe me. china's army, telling their

citizens to prepare for war over speaker pelosi's possible trip to taiwan. what should our response be? michael pillsbury, next. ♪

♪ ♪

♪ ♪ we believe there's an innovator in all of us. ♪ ♪ that's why we build technology that makes it possible for every business... and every person... to come to the table and do more incredible things. ♪ ♪ i love all types of dancing... salsa, and even belly dancing! i am a triathlete. i've always been into health, and wellness, and fitness... i tried everything with diet and exercise, and nothing worked. there was just kinda this stubborn area on my stomach. but coolsculpting worked for me! coolsculpting targets, freezes and eliminates treated fat for good. no needles, no incisions. discuss coolsculpting with your provider. some common side effects include temporary numbness, discomfort and swelling. you've come this far... coolsculpting takes you further. visit coolsculpting.com

every search you make, every click you take, every move you make, every step you take, i'll be watching you. the internet doesn't have to be duckduckgo is a free all in one privacy app with a built in search engine, web browser, one click data clearing and more stop companies like google from watching you, by downloading the app today. duckduckgo: privacy, simplified.

to finally lose 80 pounds and keep it off with golo is amazing. duckduckgo: i've been maintaining. the weight is gone and it's never coming back. with golo, i've not only kept off the weight but i'm happier, i'm healthier, and i have a new lease on life. golo is the only thing that will let you lose weight and keep it off. who loses 138 pounds in nine months? i did! golo's a lifestyle change and you make the change and it stays off. (soft music) stuart: a china spokesperson says their army would not sit idley by, their words, if speaker pelosi visits taiwan. greg p in london. what's the latest, greg? reporter: stu it's looking more and more like it's happening just in the past couple of hours pretty responsible taiwan media

sources say that indeed, nancy pelosi will be going there. much to the shagrin as you noted of china. the house speaker was in singapore today meeting with prime minister, other officials even marines based there and she's said to visit next door malaysia next and then also to stop in south korea and japan. beijing, of course, is upset that on the way, she could make that visit to the island democracy of taiwan, which china , as well a know, calls its own. it continues pretty aggressive military exercises over the weekend there were live fire drills on its coast, in the direction of taiwan. only about 80 miles away, and its government officials have been speaking again today saying if there is a visit there, there be countermeasures and consequences calling visit a gross interference in china' internal affairs. the pentagon is taking no chances the uss ronald regan aircraft carrier is now reportedly north east of the

philippines, potentially cruising just off taiwan, in a short amount of time, other u.s. vessels and aircraft are in the region. let's go through this breaking news again, stu. again, while not confirmed officially, the timetable according to reliable media sources, is nancy pelosi arrives tuesday night, local time, in taiwan. remember that's about 12 hours ahead of new york eastern time. she meets with officials there wednesday, and then by wednesday night she flies out, and she's got meetings scheduled for on thursday, so nervous times ahead at least in the next 24, 36, 48 hours, stu. stuart: breaking news, as we speak, greg palkot has it thanks very much indeed, greg. earlier today on this program, former secretary of state mike pompeo joined the program. listen to what he said about speaker pelosi and the visit. roll it. >> she should absolutely go. i suppose six months ago, it wouldn't have mattered as much but once it was pretty clear she wanted to go and intended to go, you can't pull that trip down,

because the chinese communist party sends out some third rate propaganda to threaten her or to threaten the united states of america. stuart: china expert michael pillsbury joins us now. michael, i think you heard the news that was just breaking there, a reliable source in taiwan say that the speaker will be there on tuesday night. you think she should go? >> yes, i think she should go. the leak to the financial times, stuart, is what triggered all of this and triggered the chinese reaction. china's been having military exercises to scare taiwan for at least the last three years, that's included nuclear capable bombers flying around the island , included exercises at sea, series of other threats, so the escalation possibility is certainly there. i don't laugh at the chinese threats. i think they could be an accident where these two forces, taiwan's jet fighters and ships and the mainlands

somehow interact and china tries to blame it, stage an incident and then blame it on taiwan. so i think it's a cause for great concern. i think it is breakthrough news. a source is telling something very important from taiwan she is coming and will stay overnight. it's not just an airport visit. stuart: so what should the american military do? she's going, she'll be there tuesday night into wednesday. the chinese military authorities will presume and respond militarily. what should we do militarily? >> well, our problem is a long term issue, stuart. 40 years ago we gave up quite a few things to defend taiwan. we don't have any ammunition stockpile there, we have no u.s. forces, we don't have joint exercises with the taiwan military, we took the nuclear weapons out in 1974, we closed the taiwan defense command where we had joint planning with taiwan. we have none of that now, so if the chinese threats and exercises are real tomorrow and

wednesday, then it's time for congress and the president to review these decisions 40 years ago where we basically left taiwan as a sitting duck for 40 years. if the chinese really are going to make serious threats we've got to revisit this whole one china policy and all the self- imposed restrictions we've had, especially in the military area. xi-jinping cannot want that, so he's got to be concerned that the americans might get much tougher and end taiwan's sitting duck status, and start really trying to take deterrence measures. that's what xi-jinping should be worried about. stuart: what about the tariffs in which we impose on china and their exports to us? are these tariffs now subject to some kind of negotiation in light of pelosi's visit? >> well, the trade talks are going on. the biden administration, thank god, they've supported the entire phase i deal that the chinese signed and have not

implemented. the biden team wants to go on to phase ii and attack the subsid ies, other chinese violations of their w. t. o. agreement so that's making progress, still secret what actually is happening but if the two issues get mixed together, economics and trade issue gets mixed together with the chances of war, and are improving taiwan 's deterrence status then it's going to cause an overall deterioration in our relations with china, stuart, that's going to affect the market i'm afraid. stuart: are you worried about the possibility of an accident, an accidental hit between china and taiwan force ms. spears that really worries you, right? >> yes, i'm very worried about that. it's kind of out of control of the heads of state involved, but i'm also worried about what nancy pelosi actually says publicly. mike pompeo is very bold on his trip. he alluded to it. he offered taiwan to have formal diplomatic relations with the united states. he said that was his personal view. taiwan did not respond. they are a little bit embarrassed i think by such a

generous offer but suppose nancy pelosi says something similar that the one china policy is really now obsolete. that's really going to poke the eye of the dragon and lead to the possibility of an accident or some other step that otherwise could have been avoided but i support nancy pelosi going there. i just hope she shared her remarks with some china experts who know what she should be saying and not saying. stuart: indeed. michael pillsbury welcome back to the show. we've not seen you for a long time but great to have you back again. hope to see you again soon in the near future, thank you, michael. the markets, green. not much, but some. dow is up 20. nasdaq up 60. look at the 10 year treasury yield, that's making headlines this morning. you're below 2.6%, 259, 800 the price of gold no change, $ 0.40 higher bitcoin not much change, down 450 bucks but still the $23,000 level. oil, coming in this morning at $ 93 per barrel down 5%.

nat gas down 4%. the average price per gallon of regular gasoline down to 4.21 right now, and california though , they are still paying 5.60 for a gallon of regular on average. back to the market, please. dow winners headed by boeing, it's up 4% nice gain there. the s&p 500 winners, the top of the list there is again boeing. target is on that list, so is tesla above 900 bucks per share, and the nasdaq composite, that's headed by tesla to 905, dexcom, dollar tree, kraft heinz, coming up another cruise line finally ended their pre dashboard covid testing requirement. we'll tell you which one it is this time. if former president donald trump announces he's running in 2024, before the mid-terms if he makes the announcement early the republican national committee will stop paying his legal bills. lara trump responds to that, lar a is next.

let's go ♪

do you have a life insurance policy you no longer need? now you can sell your policy - even

a term policy - for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance.

stuart: look at those markets, green for the dow is up 90, green for the nasdaq up 80 and the s&p is up 11 points, we have movers including the electric vehicle makers what do we got? >> they are electronics as well with a lot in there, so many headlines in the ev space, strong china july deliveries for the local chinese players and that means tesla is putting in great numbers as well in the month. you also have tesla heading for a three for one stock split shareholder vote this thursday which will likely get approved. also the big biden climate spending bill, the heads for a vote and that comes packed with electric car rebate and nio opening up first production facility in europe and hungary. stuart: i didn't know or i've forgotten that tesla is doing a three for one stock split. >> it still needs to be approved likely will be but that's always stock positive as you know in this summer stock split haven we've been in. stuart: if they get this big spending package through

congress this week, tesla looks even better. >> by the way speaking of looking good britain looked pretty good don't you think? stuart: not britain, england. >> england? stuart: it was english women's team that beat germany 2-1. >> that was for you that's why i brought it up. stuart: all right i want to talk to you about chipmakers because they are going to be looking good if they get this huge chip support bill through. >> $52 billion always looks good on the bottom line and its been a huge catalyst for the shares so apple is better numbers was also a sigh of relief for this industry and that means that it will continue to make more chips that go into your pc's, smartphones and electronic gadgets. stuart: while we're on the subject, can you show that video again, of the england beating germany? >> yes, [laughter] stuart: we're trying to get it. how many players on a soccer team? >> 11? stuart: yes. >> that was great. see? that was off the top of my head too. stuart: that's very good and you didn't watch yesterday and see england beat germany. >> i was watching that really interesting new formula.

oh, there it is. stuart: look at that look at what. oh, what a goal. >> wow. stuart: over the goalies head into the top corner england wins >> beautiful. stuart: i wish we could find out the rating. how many people watched that game in america. >> are you right footed or left footed? stuart: right. >> wow so you can curl the football? stuart: well you could do it if you're a left footer as well. >> [laughter] stuart: but look at that. don't you love it? >> wow. stuart: can we run this for the next half hour? it's great stuff. susan thank you very much indeed all good stuff. we'll drop that video now. >> more. stuart: tomorrow is primary day in missouri. and the republican candidates running for senate are still waiting to see if former president trump will make an endorsement. hillary vaughn is in bowling green, missouri right there. all right, hillary. we know trump hasn't given an endorsement yet but what is he saying about the candidates? reporter: stuart, we actually just found out via truth social,

the former president saying he will make an endorsement in this senate primary race here in missouri sometime today. so while we wait for that, we do know that he has sounded off opinions on some of the republican candidates running to replace retiring senator roy blunt. trump delivered almost an anti- endorsement for six term congresswoman telling voter s to forget about hartsler, saying he doesn't think she has what it takes to stand up to the left, but it tells me it has energized her supporters to work even harder for her campaign. trump is also teased support for former governor eric gritens calling him tough and smart but also admitting he is controversial and gritens stepped down as governor early from his term amid sexual misconduct allegations and now more allegations have surfaced cloud ing his campaign in its final days. trump did chime in last night on

a brightbart report that alleges that allies with gritens's opponent attorney general eric schmidt engineered a poll in their own favor pushing him to front runner status. gritens tells me that post from trump, he thinks, is giving him a boost. >> i thought the most significant development last night was president trump weigh ing in and saying that eric schmidt's campaign is guilty of great dishonesty in politics. reporter: can you guarantee missouri voters that your personal scandals are not going to be a liability in the general >> the lies that mitch mcconnell has funded and what you're going to see is not only are we winning the race tomorrow , but every quantitative analysis that's been done has the overwhelming favorite to win the general. reporter: but attorney general eric schmidt tells me he does think that gritens's personal scandals are a political liability. >> running against a guy that quit. he quit on the state, in addition to all of the other scandals that would, you know, jeopardize this seat and we don't take the senate back, in

that instance if you lose missouri so the choice is very clear on the proven conservative fighter and the other folks are not. reporter: do you think that his personal scandals are a big voting issue? >> i do. i think the polls are reflecting that, and he also puts this race at risk. it's a 50/50 senate. there are no mulligans here. reporter: so stuart, it will be interesting to see which way trump goes. we now know that he is going to weigh in, and however he weighs in, it's certainly going to have some weight with republican voters here in missouri. stuart? stuart: that's true, thanks, hillary. get the results tomorrow. president trump will deliver the keynote address at the big conservative conference at cpac later this week. it looks like he's beginning his campaign, but the rnc republican national committee says if he announces before november, they will no longer cover his legal expenses. lara trump is with me now. lara, will this prevent your

father-in-law from announcing early? >> well, i think we all know that donald trump makes decisions based on what he think s is best. he doesn't let anybody push him one way or another, so he's going to make i think a decision on what he wants to do, when the timing works out for him. i think a lot of people maybe understand why the rnc is saying that. they are very much focused on the mid-term races. they don't want to look like they are playing favorites and putting too much emphasis on someone who would then be a candidate, but look, regardless of what happens, i think that if there was ever a time that people want donald trump to get back into take another stab at it and run again, it is right now, because man, are americans hurting and it was such a different story when he was president. stuart: so he is running, it's just a question of when he announces that he's running? >> [laughter] i feel like we play this game ever i time i come on stuart. i have no announcement to make and i don't think he's official

ly made any announcement either way and i hope one day soon i can come on and say yes or no one way or another, but i will let him make an announcements if there is one to be made in his own time. stuart: you've got it, lara thank you very much for joining us we do appreciate it. thanks a lot. democrat senator joe manchin won't say which party should control congress, after the mid-terms. or if he'll support biden running in 2024. tell me more. lauren: or if he'll even support a democrat in the presidential, so here, he defies sunday shows here he is on nbc yesterday. >> do you hope democrats keep control of the house and senate? >> i think people are sick and tired of politics, chuck, i really do. >> what result do you want? do you want the democrats to keep control of the united states senate and the house of representatives? >> oh, i'm not making decisions on that. lauren: he tried to change the subject but you have manchin

, aoc, corey bush all high profile democrats publicly refusing to endorse biden. stuart: i can't understand why he wouldn't say yes, i want the democrats to win in november and keep control of the house. lauren: he likes to be the wildcard i suppose. he was a hero for republicans for quite sometime and then that radically changed last week. stuart: i'm surprised he wouldn't turnaround and say yeah , i'm a democrat. i wanted to win. lauren: no one said that really. stuart: thank you, lauren coming up one state is finally dropping their mask mandate for schools. you realize that kids in this particular state have been wearing masks for a couple of years, in school? we'll tell you where this is happening. we still have a baby formula shortage and grady trimble has the report on it, after this. ♪

♪♪ i got into debt in college and, no matter how much i paid, it followed me everywhere. so i consolidated it into a low-rate personal loan from sofi. get a personal loan with no fees, low fixed rates, and borrow up to $100k. sofi. get your money right.

if you used shipgo this whole thing wouldn't be a thing. yeah, dad! i don't want to deal with this. oh, you brought your luggage to the airport. that's adorable. with shipgo shipping your luggage before you fly you'll never have to wait around here again. like ever. that can't be comfortable though. shipgo.com the smart, fast, easy way to travel.

stuart: six months into the baby formula shortage, and congress still has no fix. grady trimble, hey, grady. i don't think of this as a partisan issue so why are the talks at a standstill into reporter: not only, stu, are the talks at a standstill, the baby formula shortage hardly seems to be apart of the conversation at all. congress hasn't done much to address the problem since passing a law aimed at easing the formula shortage, but that was in may and the most recent data shows formula is still extremely hard to come by. more than 20% of all types of formula are out of stock. almost one-third of powdered formula is out of stock. anecdotally parents we've spoken to say those numbers don't tell the whole story that they're coming across empty shelves on a regular basis.

last week, republican congresswoman elise stefanik, a new mom herself, tried to require state programs for low income moms to contract with two formula makers instead of just one. house democrats shot down that proposal and no other substantial legislation is on the table. as far as president biden's operation fly formula goes, so far, its brought in 61 million bottles on 53 flights from other countries, but the parents we've talked to tell us they are still struggling. >> it hurts my pride, almost, as a mother, i should be able to feed my babies right, that's something i should be able to do i feel completely helpless. i shouldn't have to worry about the political side of things. that's not something that should come into play at all in regards to feeding your babies. reporter: that mom and moms across the country have turned to social media, facebook groups , stu, to try to help each other find formula, so even if

there's no relief coming from congress, or the white house on the formula shortage, at the very least, they're helping each other. stu? stuart: grady trimble thank you very much indeed. the governor of south dakota is kristi noem and she says the administration is trying, or tying i should say, tying school lunch resources to lgbtq politics. lauren: yup. stuart: what's this all about? lauren: okay so the government is mandating that schools accept gender identity as part of the title ix protections, in order to receive federal funding for discounted school lunch. kristi noem says that's not happening on my watch. >> this white house has threatened to takeaway all of our school lunch resources for poor and underprivileged kids, if we don't comply with their mandates. they are also coming out and to create a leftist agenda that's extreme, they're willing to hurt children to create an unfair environment for women. lauren: so south dakota and 21 other states sued the usda for

threatening to withhold funds from schools in states that do offer sex- separated bathrooms or gender-based sports teams, so if you're a school and you don't let a transgender male compete on the women's swim team, for instance, your kids, your students wouldn't have access to federal funding for discounted school lunch. stuart: ridiculous. lauren: that's what they are doing and it's 30 million kids at risk across 10,000 schools. stuart: okay, i'd like to see a vote on that one. one more for you. we've got one state finally getting rid of the indoor masks. the mandate for indoor masks in schools. these kids have been, which state? lauren: it's hawaii and a lot of parents across the country, because kids are starting to go back-to-school, are saying oh, i wonder if my child can finally have a normal year of school, what's the covid level in our locality? and in hawaii they have worn masks, teachers, staff and

students this entire time and when they go back-to-school tomorrow they don't have to wear them inside. stuart: but for two years all the kids -- lauren: the whole time. stuart: all masked up, the whole time? lauren: uh-huh, now it's optional. isn't that amazing? and so a lot of the questions are will someone in school contracts covid what happens to everybody else? and in hawaii, and this is a big deal for them, you still come in , you don't have to quarantine or isolate or do zoom school anymore. you come in with the whole class , has to mask up. so it's better, the kids are in school. that's better than keeping them home in quarantine. stuart: i would agree with that. now take a look at the market, please, because we've been open for two hours and 15 minutes and the dow is up 83 points. i'd call that a pretty even split between winners and losers winners are in green, losers are in red and even split the dow is up 82 points. president biden has tested positive for covid again this morning. did taking paxlovid not work? dr. marty makary is here, next.

♪ ♪♪ ♪♪ you had me at allison® 10-speed transmission. ♪♪ features available on gmc sierra heavy duty. premium and capable. that's professional grade from gmc. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates

matching your job description. visit indeed.com/hire after switching to the farmer's dog we noticed so many improvements in remi's health. his allergies were going away and he just had amazing energy. it looks like nutritious food, and it is. i'm investing in my dog's health and happiness. get started at longlivedogs.com

this is xfinity rewards. i'm our way of showingg's h our appreciation.s. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app.

millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network, with the carrier rated #1 in customer satisfaction. that's a whole lot of happy campers out there. and it's never too late to join them. get unlimited data with 5g included for just $30 a line per month when you get 4 lines. switch to xfinity mobile today.

stuart: norwegian cruise lines just updated their covid testing requirements and lauren, i bet good news for passengers. lauren: i think a lot of people are going to be able to cruise without worrying about can i get on the ship in case i test positive, so starting on thursday, if you're on a cruise, that's five nights or under, you do not have to pre-test if you're fully vaccinated and if you're unvaccinated, it used to be you show up and you had to get swabbed right then and there and okay i'm all passed and i'm here and ready to go on the ship and you tested negative and you had to pack your bags and go. that's not the case, if you're unvaccinated, you have to provide proof of a negative result, three days before you leave. so i think a lot of people are saying okay, which is easier now stuart: and norwegian cruise line stock is still only at $12 a share. never recovered anything like where it was before the pandemic and we have president biden. he has again tested positive and

he tested positive again this morning. i guess this is a rebound case of covid. dr. marty makary joins me now. doctor, we know the president took paxlovid. did it just not work? >> it suppresses the virus and it does have this risk of re bound, anytime you sort of suppress the virus it's going to fester there and this seems to be characteristic of paxlovid, if people watching have taken paxlovid, they know that primary care doctors in the united states practicing on the ground, on the front lines, say that it's 40 to 50% of people who have symptomatic covid who get rebound after paxlovid and the white house is citing this really poorly-done study saying that it's somewhere between one and 5%. it's not. it's much higher. stuart: kids are going back-to-school after the long summer vacation. what, in your opinion, should the protocol be, masks or no masks? social distancing or not? >> look, i think if people have

symptoms, they need to wear a mask or stay-at-home. nobody should be showing up at school coughing and sneezing and sloberring next to people as they did when you and i were growing up. we have new protocols now that can be accepted, but the idea that somehow we're going to use these covid-zero policies which many schools are using, it's not sustainable, even the president isolating in strict isolation now for five days, honestly, what risk does he pose to a fully vaccinated 25-year-old healthy staff person, none. i think we need to recognize it's ubiquitous. stuart: have we, i get the impression that everybody has either had covid or has it now, and very few people are getting tested. am i right? >> that's right and we don't test for influenza or many other infections, and so we can use some basic principles, but you're right. now there maybe a 4% to 8% segment of the population that for some reason doesn't get sick from covid. they may have an asymptomatic

case or just don't test positive. we don't really fully understand that but otherwise we can say for all practical purposes everybody has gotten it or will get it. stuart: what do you make of this study that shows long covid , that put 4 million people out of work. americans sidelined from jobs, 4 million people sounds like an enormous number to me, doctor >> yeah, when you do a stud have very poor and sloppy methodology, you get bad results like that. now, if somebody just calls in and says, you know, i'm still positive or i still have symptoms and they know they can get paid leave, you're going to have people who they overstate their symptoms, plus whoever said covid has to be five days? for some people they can have residual symptoms that may go say four weeks and one day. that's not really long covid. in my opinion, long covid conjured the idea of a longer term disability. that's still rare. 1% to 2% in the uk study yet the

nih says one in five people after covid gets this including this false notion that the risk is equally distributed in the population that's young and healthy people. it's not. it's proportional to how severe the illness was and how long you had it. stuart: have we made a mess of this whole pandemic? bad public policy? >> yeah, i think, because we've had whiplash, people didn't take it seriously, when many of us were warning sternly about what was coming and then the bias of hiv researchers and that is dr. fauci, dr. wolenski, all hiv researchers is they could not recognize that the risk is 10,000 fold different in someone with risk factors versus someone young and healthy so they basically created a blanket policy for everybody and we're still trying to undo that especially in schools and in the workplace. stuart: we are indeed. dr. marty makary, thank you very much for being with us. we've enjoyed your coverage of the pandemic for the last couple of years and we appreciate it. thank you, doctor. >> thank you. stuart: to the markets, and

we've got a rally for the dow, not huge but up another hundred points, great last week, a great last month, and we're still in the green this monday morning. all right now, it's time for the monday trivia question. which year did the month august get its name? in which year did it become " august"? 108 bc, 55 bc, 8 bc, or 22 ad? the answer when we come back. . .

municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-763-2763. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income... are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-763-2763.

that's 1-800-763-2763. stuart: did you know, all right, here we go, in which month, i'm sorry, in which-year did the month august get its name? was it 108 bc, 55 bc. you start. >> i know it is not ad, that would be too obvious. they're all bc. going with number three, 8 bc. before christ. stuart: i'm going with 22 ad, i'm wrong. the answer is 8 bc. that is when role's senate renamed the month to august in honor of the roman emperor augustus. >> i learned how to take these tests, you know i'm usually right. i know how the producers think. [laughter]

stuart: taking over. 20 seconds left in the show. look at that. that is 7-year-old girl. she made the guinness book of world records for limbo skating. she is from india. she stated under 20 cars in the fastest time ever, 13.7 seconds. the record previously held by a girl in china. she held that record for 14 years. now the little girl from india broke it. >> i hope that doesn't become a tiktok challenge. stuart: good idea. bad idea. jackie deangelis in for neil. jackie: thank you, stuart. i'm jackie deangelis in tore neil cavuto on cavuto "coast to coast." democrats insisting their 700 billion-dollar inflation reduction act won't raise taxes on average americans but the experts crunching the numbers, well they tell