as well but listen, elderly. i'd like to know the definition because i think i'm becoming dangerously close to it and i'll have to define myself. dagen: no you're not. even a teenager or 20-something can hit the gas instead of the accelerator. i've done that and run into a bush, so, it's a mistake we all make. maybe not parking at a mall. stuart take it away. stuart: okay, [laughter] if you insisting good morning, dagen, good morning, everyone. you know, we're watching the collapse of this week's meme stock, bed, bath and beyond, or blood bath and beyond as one of our guests called it earlier this week. earlier this week, bby went straight up and got heavy coverage on reddit, retail investors all piled into this thing. on thursday afternoon, however, investor ryan cohen unloaded his empire state, $28 a share tuesday, $10 a share, actually $11 this morning.

retail investors left holding the bag. plenty of selling in stocks this morning. several federal reserve board governors pushing back on the idea that the fed will soften. the dow is going to be down the better part of 200 points, nasdaq down about 138. big drop for cryptos this morning. bitcoin is back to $21,000 per- coin, i see now what do we got? crypto at $21,000, ethererum is at $1,700 a coin, way down. the money is coming out of risk, that's stocks and cryptos, and into safe haven bonds. the 10-year yield getting pretty close to 3% again right now you're at 295. gasoline down $0.02 overnight the average new 3.91. diesel no change, still at 4.99. all right, that's the markets. politics, judge bruce reinhart says he is inclined to release parts of the affidavit, so, we're not going to see all of it we'll have the republican response to that in just a moment.

cnn anchor brian stelter is out his show "reliable sources" canceled. that network, which has done nothing but bash trump for six solid years is trying to change. dave portnoy will join us. he just sold his last stake in barstool sports for 387 million. what's he going to do with the money and we will introduce you to jake freeman, he's 20 years old. he bought bed, bath and beyond last month for $5 a share. he sold tuesday at $28 a share. he made 100 million bucks. friday, august 19, 2022. "varney" & company is about to begin. ♪ stuart: we started something? oh, no, want to be starting

something. look, folks, it's friday, as we always say on mondays and fridays, new york, midtown, not much action because people don't come to the office on mondays and fridays. tuesday, wednesday, thursdays -- lauren: it's the traffic. stuart: exactly so we got to get going here. judge reinhart has ordered the release of the redacted affidavit that led to the raid at mar-a-lago. lauren simonetti with me. have we heard from donald trump? lauren: absolutely. his spokesperson tells fox, i'll read this. president trump has made clear his view that the american people should be permitted to see the unredacted affidavit related to the raid. today, magistrate judge reinhart rejected the doj's adept to hide the whole affidavit from americans. no redactions should be necessary and the whole thing should be released, given the democrat's pension for using redactions to hide government corruption. judge reinhart dave gave the doj one week to offer a redacted version of the affidavit and they will likely blackout

everything but the words the and end and this ruling is a setback for the justice department. they don't want anything released for fear of compromis ing their criminal investigation. stuart: okay, i've got that. let's bring in matt schlapp. look, matt, if the whole affidavit is not released, and it's clear, i mean, how do we ever find out why the raid was staged? >> well, i think we kind of know why the raid was staged, stuart, and that is the democrat s and it's sad to see an attorney general literally operating as the democrat national committee, but they don't want trump to be able to run again. that is what they are trying to engage in. the crimes they're accusing donald trump are crimes barack obama committed, crimes hillary and bill clinton committed crimes henry kissingerin and richard nixon committed. hillary clinton and bill clinton took $200,000 worth of art and furniture from the white house

after they left. nobody raided anything. they were just called and said hey, guys you got to bring it back. if there's some paperwork that should be back in the archives or something, with past presidents they've always been able to work this out but because it's donald trump, they want to do anything they can to prevent this man from running. this is joe biden's potential opponent. stuart: but i think there's going to be selective leaks over the next two or three months, designed to make trump look bad and the media will run with these leaks. it's just a way of keeping going the hate trump movement. last word to you on this. >> well, the thing that's crazy , you know, what your religion is, you believe in karma, you believe injustice, but in the end, all these illegitimate attempts to smear trump make him stronger, so everything they do to try to prevent him from running, pushes him forward, as the front runner it's kind of insane what they've been doing with this man for five years. stuart: yes, it really is. we've been in it for all those years looking at it. matt will you stay there for a second i've got something else

just a bit later in the show. now let's take a look at bed, bath and beyond, got to get to that. activist investor ryan cohen sold his stake in the company and the stock has tanked. tell us about the youngster, 20 years old, i believe. lauren: 20. stuart: who made what, $100 million? lauren: yeah, his name is jake freeman, he goes to usc. he sold 5 million shares for $130 million. we have to tell this part of the story. how did he buy those shares in the first place? he got $25 million from his family. so he was in a position to actually make that investment, but, he did try to influence change at the board with bed, bath and beyond. he sent a letter and said look you got all these problems you need to raise capital and he thought he would see a payday but an interview said he's done he said i never thought it be that big and that fast. today the stock is down 35%. another decline, because the activist, ryan cohen, delivered on his program us. he said, well he didn't say, he filed to sell his stake and he

did. he sold the whole thing, so that's a u-turn and many of the meme stock feel like the rug has been pulled out from under them. stuart: i just don't think jake freeman is a normal retail investor. he's not some guy who reads reddit, pulls a slot machine handle. he's a sophisticated guy, big into math and has a family backing. he knew what he was doing. i don't think he was gambling and i think he was investing, and i draw a distinction between the two as we will throughout the show today. oh, kenny polcari is here. get into this debate. i say meme stocks are a gamble, not an investment. what say you? >> well, a thousand percent it's a gamble not an investment. i'm with you 100% on that. i got to have you a question i'm curious to see your interview with this young man jake freeman at 20 years old. partly, because he had 25 million to start, so you know , 25 million, and 130 million so everyone's making it like the guy started with a

thousand dollars and turned it into 130 million. he didn't. he started with 25 million so let's just put that kind of out there. stuart: by the way, kenny, he's not going to be on the show. he's not an interview guest today. we can't even find a picture of him but we just wanted to tell the story but make sure everybody knows -- >> he's got red hair. you can google him. he's all over google but anyway listen. the other thing is i find it also very curious that he sold all his stock right before ryan cohen announced he was going to make the sale. i just find that a tad bit curious. stuart: yeah, okay. that's a fair point to make. lauren: there's a lot that smell s fishy on this one. >> yeah, i gotta be honest with you. stuart: you know? [laughter] all right let's move on real fast, kenny. is the fed going to do what's right or is it going to cave into the traders? >> listen, i hope they do what's right and stick with 75 basis points, but, you know,

they tend to be, they tend to be dragged around by the nose on the traders, that they have to throw a temper tantrum if the fed right away caves which is exactly what they should not do. they need to go 75, they need to keep their foot on the gas, they need to tell them that. they are in control of this and that inflation at 8.5% is still four times higher than what they want it to be and the only way to get it down without causing a 1980-style reaction is to stay on top of it. stuart: so, they are going to keep putting rates up and about aggressively. that's what you think? >> as far as i'm concerned, if i was a voting member i'd vote yes. stuart: so is this almost a fake rally? >> well, i think it's ahead of itself. i think that the markets convinced, they've convinced themselves that they are only going to go 50 that inflation is rolling over and look at how great the fed is owned, by the way the inflation reduction bill suddenly kicked in too, and that, you know, caused inflation to roll over which is a whole other conversation you and i could have but one way or the

other that's what this rally has been, and i think we're going to see it back off, as i hope, the fed stays with 75 basis points. stuart: it's the end of the week but you can still turn on the excitement and get energized all good stuff. kenny, have a great weekend. we'll see you again soon. >> you too. stuart: you got it. looks like senate minority leader mitch mcconnell is worried about the republicans chances of taking control of the senate this november. watch this. >> i think there's probably a greater likelihood the house flips than the senate. senate raises are just different they're statewide, candidate quality has a lot to do with the outcome. right now, we have a 50/50 senate and a 50/50 country but i think when all is said and done, we're likely to have an extreme ly close senate, either our side is up slightly or their side is up slightly. stuart: okay matt let's get into this. republican candidates in georgia

and pennsylvania are not doing well and mitch mcconnell is right to be worried. what say you? >> yeah, look, i agree with really everything mitch mcconnell said there. these senate races are a little bit different. in the house you build this big wave and people just catch it and a whole bunch of people will be elected to the house that might not get elected two years from now. the senate is a little bit different. people have a chance to really look at these candidates. if you look at the two you just mentioned, georgia and pennsylvania, the problem for dr. oz isn't that people don't like him or don't know him. they have known him forever. he's won so many emmys, a big tv star. his issue is he has to consolidate this republican conservative maga base. there's still people wondering will he vote as a conservative. i think he can get that done when he does that race, will dramatically tighten aspen pen's turning more republican with each cycle. georgia is a little bit different. it's less than five points almost the margin of error in most of the polls, and herschel walker, like dr. oz, is this

outside candidate. he's famous because he was a hell of a running back at georgia but he's go the to learn how to be a little bit more fast on his feet as he gets better after labor day, i also think it's going to tighten dramatically. stuart: you've got a couple months to go. matt schlapp thanks for being here, have a great weekend, matt , we'll see you again soon. >> thank you, stuart. stuart: pointing south down 200 for the dow, down 150 for the nasdaq. coming up, casino operator pen entertainment taking full control of barstool sports. dave portnoy gets 387 million bucks. he's on the show, what will he do with that money? brian stelter out at cnn but i seem to remember him saying he's not going anywhere. watch this. >> it's too early to know if this product or this service was a success or a failure. you get all of the haters today saying this thing is a failure. >> jeff zucker's departure was shocking to the staff at cnn. we lost our leader this week. we're not going anywhere.

stuart: okay, well, you're out now, son. what is the future of cnn? we'll dive into that. ♪ ♪ 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.

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little hotter than that i think. the dow going to be down roughly 200 points at the opening bell. we come a little bit, we were at 240 now it's 180. let's get back to this. we are going to get the mar-a-lago affidavit but it will be redacted. former assistant u.s. attorney andrew mccarthy is with me now. when will we ever see the full affidavit? and if we don't, do you expect a series of leaks damaging to mr. trump? >> well, stuart, we've already had plenty of leaking, and i think part of the reason the judge even broke the subject of releasing the warrant now with the warrant affidavit even though the investigation is still ongoing is the government is playing the game that it usually plays, which is one- sided selective leaking, so one way you combat that is to actually put out all of the information so that we don't see it, just the pieces they want us to see in a vacuum. what ordinarily happens in an

investigation is once the case, when you've got to the point of getting a search warrant it means you have probable cause in a crime. most of those cases get charged. not all of them but most of them , and then what happens is the affidavit gets turned over to the defense and discovery and we see it when they make motions to suppress the evidence from the search. so ultimately, i think, we are going to see this affidavit in unredacted form and if there are no charges in this case, there will be freedom of information about litigation, and that'll happen under circumstances where the justice department will no longer be able to say, you'll be harming our investigation, if you reveal this , so i think one way or the other we're going to see it. i wouldn't hold my breath about seeing it next thursday. stuart: right we aren't going to see it anytime soon. that's why i say it's a deliberate delay so they can leak selectively and make mr. trump look bad. who decides, actually, what is blacked out and what's not? who makes that decision?

>> well the judge says in the first instance, so what'll happen is what he's told the justice department to do is go back and blackout what you think needs to be blacked out and as some of your commentators have said, they, of course, want to blackout everything because they don't think this warrant should go out at all. people should know, there's an awful lot of stuff that's in an affidavit that wouldn't tell us much that they could say that they put out there without black ing out. what we really want to see is the probable cause summary by the fbi. i doubt you're going to get much of that next thursday, and if the justice department doesn't like where the judge comes out, this is just a magistrate judge. not even a regular constitutional article iii judiciary official. so, if they don't like where this judge comes out in the ruling they'll be able to appeal it to the u.s. district court and ultimately the court of appeals which is why i say this may take a while.

stuart: forever. real fast, andrew. matt schlapp just told us he thought the political objective of the democrats is ultimately to charge donald trump with something to stop him from running for office again. do you agree with that? is that the objective? >> i think they'd like to, i actually think they'd like to see him get nominated. their pattern has been to try to promote pro-trump candidates because they don't think they can win national elections. they think they can win the nomination, so i think the smarter democrats, that's what they're thinking. stuart: okay, we'll see. only time will tell, as we constantly are told. andrew mccarthy thanks for joining us see you again soon. now those folks over at ms nbc, they're worried former president trump will avoid being charged. what are they saying? lauren: yeah, that the partial and sealed potentially the affidavit would mean trump walks free. listen. >> we're on precipice right now with all of the election deniers

winning primaries and running for general election. we're on a precipice of potentially losing the way we do things in this country. it's a matter of a few years. >> we remember that ronald regan was referred to as the tough president and i think that modifier needs to be applied to donald trump. he's the ultimate teflon president thus far in our history. lauren: there's a lot to take issue but i wanted to start with katie terr, the host, losing the way we do things in this country, that raid on trump 's private home was unprecedented. stuart: it was. lauren: and i think this is what matt schlapp said this all comes back to the attorney general, merit garland. he failed to see how these actions would further polarize the country, and now, he's between a rock and a hard place, because he's going to tick off one side no matter what. stuart: yeah. lauren: what can he do now? he failed to see , you need to be proactive. stuart: still in limbo. lauren let's move on to futures the market opens in seven and a half minutes.

looks like it's going to open down. losing about 160 on the dow, 130 on the nasdaq. the opening bell is next, and we'll take you there. ♪ ♪

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stuart: it's a beautiful friday morning. i thought we were going to show everybody, no, we're not going to show, we're going to show you a beach in jersey, but we can't. lost the picture apparently, but jonathan hoenig is with us to cover the market for me. >> not on a beach. i want to leave jersey. that's the problem, stuart. investors are leaving new jersey , they are leaving illinois. they are leaving california. they are leaving the high tax states. they are moving towards the lower tax states. that's what i'm worried about in the economy. i look at these markets it's almost as if you're seeing investors leave the stock market and it's because of the high taxes that they know is on their way because of the so-called inflation reduction act that's what worried me this morning. stuart: you don't think much of the inflation reduction act -- >> it's the thinking. stuart: its got nothing to do with inflation. it's really a tax and climate bill, so what impact on american

business from a tax and climate bill of this size? >> well, when you tax american businesses, stuart, i know you know this but politicians don't know this. when you tax american businesses , you have less american businesses. that's exactly what they are having in this assumption i think especially among democrats that wealthy and that wealth will always be there. it's just exists, but it has to be created, and that's really what i'm worried. politicians don't think long term but we as investors stuart we have to think long term and i think they are killing the democrats are killing the investors, they are killing the entrepreneurs and holding the economy on their shoulders with this tax and spend bill. stuart: i've been saying for a couple of weeks that i think the market is kind of cooling down a little and by that, i mean, there's less anxiety. there's less up and down crazy movement in the overall market. do you agree with that? if you agree with me, what does that tell you about the market? >> well, i think that there's less growth. i mean, perhaps less volatility, stuart, but i think actually

less growth. one of the big indicators we've seen and it sounds a little wonky but i know you've covered it is this inverted yield curve. basically short-term rates much higher than longer term rates. this has always been a harbinger of a slowdown in the economy and i think that's exactly what you're seeing. democrats are funding in efficiency. they are taxing efficiency. they are taxing businesses and in effect green energy programs, so look, i'm not so bearish that i think the markets going to collapse today but i foresee a much-slower economy not because the american entrepreneur is less efficient but because government is subsidizing in efficiency at the expense of the atlases and pull the economy forward. stuart: give me one investment that you are making now, the kind of investment that our viewers might make, know the some ultra-sophisticated butterfly straddle or something what are you putting your money into, one name. >> i think our viewers are very sophisticated but they want to in this case, follow warren buffett, not his politics but some of his investments, utilit ies.

idu, are one of the investments you have to look at now, stuart, they are protected against inflation and can raise those rates as inflation goes up and as the costs go up so idu is one thing i'm looking at. put it on your list as well. utilities. stuart: what a name. [opening bell ringing] stuart: jonathan i kind of like it i guess. the opening bell, you can hear it ringing right now and pretty soon we'll be off and running on this friday morning. it's 9:30 eastern time and we are now trading. the stock market has opened lower, no surprise there, we were expecting it to come down and so it has. about a half percentage point lower for the dow industrials and there's a large majority of the dow 30 in the red being sold the s&p 500 also on the downside , the score there is a minus .60%. the nasdaq composite on the downside to the tune of 1%. a bigger percentage loss there. all the big techs are down, apple, amazon, meta, alphabet,

microsoft on the downside this friday morning. the meme stocks are back, and so is susan li. >> hey, good morning, yes. so my meme stock now -- stuart: you're the meme stock lady. tell me about the grill people. is that now a meme stock? >> yes, apparently but then you have to talk to me about this butterfly -- stuart: butterfly straddle? >> that's right. something like that. stuart: confusing strategy in the commodities markets. >> i can talk about some of these other technical trading algorithms as well, but -- stuart: i'll be happy with the meme stocks. >> [laughter] so let's talk about froth coming out of the market in all meme stocks because of that debacle from bed, bath and beyond, so thursday's rally in weber, single-biggest day for the barbecue maker up 26% in one single session but then, after you heard about ryan cohen dropping his 9% stake in bed, bath and beyond, and that's when you saw weber really tank as wellnd and you know 55% of weber stock is being shorted right now, and that's how you

pick these meme stocks. stuart: that's right. >> so when you look at these outsize short positions in some of these shall we say smaller names like weber and that's when the wall street bets some of these reddit traders pile in because they try to shake out the shorts. that means they have to buyback the shares, when the stock goes up and that's why we seen a lot of these really predictable names i would say. stuart: i don't want to get into a debate now but would you be critical of ryan cohen moving the stock up so much, selling suddenly, and the little guys in the back. >> i know you'll talk to dave portnoy in just a bit so i'd love to hear what he thinks about this perceived pump-and- dump but he did hold it for five to six months and try to wrangel some changes and it's up to the individual retail investor. if you're going to trust and put money and buy into a stock because you have belief in a single individual, i think you're not doing your homework so that's up to you. it's a free market, free will system and that's why we love this capital society we live in.

stuart: yes, we do. moving on to some of the companies which reported before the bell. i'm looking at john deere, down 2%. >> by the way getting back to the meme stocks there is also this talk that they're popular and this trend emerged because of zero interest rates. interest rates are backup to 3% and we still have a lot of people piling back into these meme stocks which to me, suggests that there's just a risk-on trade that people are already pricing in for a rate cutting cycle that's upcoming so more free money at play, but getting back to deere and some of the earnings inflation again hurting the bottom line at the tractor maker. they tried to raise prices not enough to cover costs. you're getting punished in the market on that, missed on profit and beat on sales and the full year is not looking great when they pay more for their items and parts. stuart: you should see how much the price of the tractor has gone up. >> but you said that they're fantastic machines. stuart: oh, i love them. yeah. drive them all the time if i possibly could. foot locker. >> speaking. stuart: now that's not a short.

that's not a meme stock is it? >> no. stuart: behaving like one. >> that's true kind of a meme stock type of rally you're see ing today and that's because they got a new ceo, mary dillon coming in from ulta beauty. smaller drop in same-store sales , so comp sales were actually better in the spring time, and profit came in above estimates. dillon, she's great at e-commerce, and that's kind of the future for foot locker especially if you have nike and addidas now selling direct to consumer so you have to amp up when it comes to online sales stuart: applied materials? >> that's right amat supplying services to chipmakers sales profit beating here. it was up in the pre-market and after-hours yesterday, and i can imagine that they're saying they make more sales with chipmakers increasing their production, partly because that $52 billion chips act that congress recently passed. stuart: i see home depot, they have a stock buyback program and the board approved of it. >> you wonder if they are trying to get ahead of the 1%

tax so $15 billion you can do the math 1% is pretty significant i would say and they are also increasing their dividends to a buck 90 a share and that's pretty generous. now, last year, they also bought back $20 billion, and there's also a management change so the new ceo stepping in as chairman, and this is after that strong spring quarter that you reported on, and it's interesting the housing is now in recession, because you know, it looks like home depot still says that we're selling a lot of goods out there. stuart: i wouldn't be surprised to see a lot of other companies jump in now, with the stock buyback program. >> of course. stuart: to escape the 1% tax coming at you, at some point in the future. >> so apple has about what $100 billion in stock buybacks each year. well maybe not each year. stuart: no it's close. >> tens of billions. stuart: i hear it's half a trillion dollars worth of stock buybacks in the last 15 years. >> that's correct. stuart: enormous. >> so it's almost about $100 billion and that's why warren buffett bought it but you do the math on 1% of $100 billion? now, do they actually pay those taxes? i think we'll see. stuart: i don't want to make

them try. >> depends on where you're domiciled. stuart: you are my crypto lady what's going on. they are all down this morning. >> okay so sudden drop to sub 22000. you have three week lows of bitcoin, really everything dropped in a 10 minute window and there's talk that maybe there's liquidation on futures in bitcoin, but crypto trades along with tech stocks, concerned of higher rates and more aggressive fed that means money dries up and selling takes place, also cryptocurrency, ether by the way and i saw this on vacation, it's up 100% since those june bottoms, and way outperforming bitcoin so far in this recovery. stuart: that's cryptos, meme stocks and everything else combined. >> the meme lady and the crypto s. i'll take it. stuart: meme and crypto lady. can you combine the two why not. we'll see you later thanks a lot check that big board in business now for six and a half minutes and we're down 139 points. are there any dow winners? yes of course there are and here is the list. topping that list is merck, then johnson & johnson, amgen, home depot, united health that's the

dow winners. s&p 500, davita, i do not know. lauren: i have no idea. stuart: i could google it. >> she just announced a buyback stuart: and they have a dividend restore the dividend. that's general motors. okay, what did you say producer? davita is healthcare. now i know. fast on the googling there. >> yes that's right very fast. stuart: ross stores, amgen, xl energy, gillead shines on the nasdaq list of winners. here is what's coming up. look at your screen, now that looks like a bag of candy doesn't it? well it's not. it's fentanyl. if you have kids, tell me that does not scare you. the white house could soon stop paying for covid shots and treatments. would you pay out of pocket for four shots a year? you might have to, if you want the shots. portnoy is back and he's a lot richer. i want to know how he's going to spend it. i'll ask him, he's next.

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stuart: pen entertainment announced its full takeover of barstool sports, going to pay 387 million bucks, pen will be in full control by february of next year. now, look whose here, barstool sports guy, dave portnoy, the man himself. dave? i don't know how much of this you're going to get but i take it you are now an extremely wealthy guy. just taking another couple hundred million. what are you going to do with the money? >> well, first thing i'm going to do is i've got to make sure i get the hell out of new york, right, and get down to florida and establish some residency so they can't steal all my money, so that's one. going to get my ducks in a row for that, stuart because i one have much left after that this weekend i'm going to sarato

ga on with some buddies and bet on horses so i'll live the same life i've always done. stuart: i mean, you can't, extravagant lifestyle, you can put some in cryptos, buy some stock, what are you going to do? >> well, i still have crypto, i have bitcoin, i got back in at 36, so i'm taking a beating there, but my net worth is still all tied really into penn. i have a ton of penn stock and its been a rough little ride for the last year, started out well but we've got a lot of work to do so the more penn goes up that's my investment. the other stuff is fun and games but penn is where most of my net worth is tied up and if we can take this thing to the moon then i'll be able to do whatever i want but it's all penn. that's what i'm focused on. stuart: but what you do is what wealthy people do is they borrow against their holdings in a company. you don't actually spend money. you borrow it against your penn entertainment holdings, and

then you spend it. so you don't pay capital gains tax. that's what you're going to do, right? >> listen, stuart. when i got all this money, the first thing i did to my tax guy is i said i want every trick that these rich people have. if i have to have money in the cayman's offshore, all you hear about these tricks, my tax guy said the trick is you have to pay 15% so i don't know where all these tricks are coming from but i don't have them and i'm paying out the guts for them so if you know any little inside tricks on how to get around taxes legally i'm all ears but i pay 15% i feel like an idiot. stuart: [laughter] but that surely is beneath your fair share, a man whose as wealthy as that. what do you think should be a fair share that the tax man takes out of your income? >> you know, i'm happy to pay 30, 40, but here's my issue. it's not even so much that it's 50%. i just think the government is

so wasteful, you're lighting half of it on fire. there's certainly things we need as a country that you got to pay taxes for and again i'm happy to do that. i just don't trust the government that they use the money properly. that's the bigger issue so it's not so much how much they take but i really feel like i'm just taking it and lighting it on fire when i give it all to them. stuart: let's talk meme stocks for a minute. what do you make of ryan cohen dumping all of this bed, bath and beyond stock yesterday afternoon leaving the little guy holding the bag. what do you think about that? >> i don't like that, but i mean, all the stock market is a game. the meme stocks are a game. the big firms are a game, everyone is pulling levers and doing whatever they can, but yes , any time the little guy gets stuck holding the bag you feel awful for them and that's what happened in the whole meme stock movement when they stopped the trading and whenever these people come to justice for it who knows. i'd be surprised if they get anything more than a slap on the wrist. stuart: i'll take issue with you on the stock market being just a game.

i don't think it is. it wasn't a game when you worked with penn national. you did your homework, you figured out that company. is it good, bad, sideways where's it going? you had some judgment on it. it wasn't a game. >> well, for that though, you're using an example of somebody whose directly involved , and yes, i did all of the research with penn, and i'm part of that company but even still, stuart, if you look at the penn stock it trades with the rest of the gambling stocks almost lockstep from the past year, year and a half. we don't operate like those guys those guys are spending billions of dollars on advertising and literally burning money andz lower classing hundreds of millions of dollars and we trade exactly like them and there's no actual differentiation or people looking at the way the companies operate differently. i'm not saying it for everybody but i do mean that when older investors lecture the newer investors, on how they get to take it seriously and the anti- meme stock, everyone's in it to make money, everybodies

using every advent age they can, i don't think some people say you're trading unfairly or fairly. stuart: it's a question of gambling versus investing. i think young retail investors have been given a terrible example of these meme stocks. this is not how you make money in the long term. it's not how you get rich in the long term. they're gambling, not investing. okay, take me up on it. >> so but what would you say about the companies that were doing all of this shorting and then got caught red handed when the meme stock moved? they were just gambling the other way but somehow, the stock market stopped to save these people when they placed their bad bets. that's the problem i have with it. everybody, what's the difference between shorting the stock and the meme stock movement? stuart: you're shorting a stock, you are expecting the stock to go down, you've done your due diligence on that company. >> it's a gamble.

stuart: everything is a form of gambling but there's a huge difference between investing, judgment, and rolling the dice, gambling meme stocks. there's a difference, and if you -- >> but it's a gamble -- stuart: by pulling the lever on the slot machine that's a rotten lessen. >> but stuart is it a gamble? if you're part of this wall street bets and you think you have this army of people who can manipulate the stock price, that's not gambling. that's no different than all these algorithms that all these people have made a ton of money on. they're using algorithms. they aren't necessarily doing research. they are using math and technology to alter the stock market. stuart: you tell that to all those bed bath bed, bath and beyond investors the little retail guys who bought earlier this week and are now left holding the bag. you tell them that. last 30 seconds to you. >> to me, well, i feel bad for those investors. i haven't been paying overly attention to the bed, bath and beyond things so kind of got me on skates a little bit on this

one and i always root for the little guy. my point is, i fundamentally disagree with the lecture from older investors that this is investment and you have retail and due diligence, no. there's all sorts of algorithms, math, they sell, they program and sell on different trade. they have information to trade flow. this is just the world's biggest roulette wheel is what basically the stock market is, and people got mad when the retail traders got the hammer for once. stuart: gotta go. you know these hard breaks come up but dave, that was very interesting. we appreciate your point of view come see us again, okay? >> all right stuart: thanks a lot. coming up, don't forget to send in your friday feedback. it's not too late. ask anything you like about portnoy or myself. e-mail questions, comments, critiques to "varney"viewers otero fox.com. jeff flock got the best assignment of the day on a lobster boat. that's an assignment i could not

take. i get chronic seasickness but we'll take you to jeff on his lobster boat right after this. ♪ ♪ you see, son, with a little elbow grease, you can do just about anything. thanks, dad. that's right, robert. and it's never too early to learn you could save with america's number one motorcycle insurer. that's right, jamie. but it's not just about savings. it's about the friends we make along the way. you said it, flo. and don't forget to floss before you brush. your gums will thank you. -that's right, dr. gary. -jamie? sorry, i had another thought so i got back in line. what was it? [ sighs ] i can't remember. ♪ ♪ ♪ ♪

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and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now, there's golo. golo helps with insulin resistance, getting rid of sugar cravings, helps control stress and emotional eating, and losing weight. go to golo.com and see how golo can change your life. that's g-o-l-o.com. psoriasis really messes with you. try. hope. fail. no one should suffer like that. i started cosentyx®. five years clear. real people with psoriasis look and feel better with cosentyx. don't use if you're allergic to cosentyx. before starting get checked for tuberculosis. an increased risk of infection, some serious and a lowered ability to fight them may occur. tell your doctor about an infection or symptoms or if you had a vaccine or plan to. tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reaction may occur. best move i've ever made. ask your dermatologist stuart: lobster fisherman, well

that's struggling, the price of lobsters has come down big time compared to last year. there you have it there is jeff flock. he's at a lobster boat in maine. obvious first question, jeff, can a lobstermate make ends meet reporter: i'm going to ask that very question to sunny beals. this is beals island by the way in maine, for those of you that know the gulf of maine, go ahead and pull it up now. we'll see what's in here. we haven't looked. oh, there you go, we've got a couple. >> got a couple. reporter: the problem hasn't been the harvest right? its been the price. >> no the price has been down, its been low. reporter: let's see what you've got. >> it's the lowest we've had since i've been fishing. reporter: okay then. you say lowest, the price? >> lowest price i've ever had in my lifetime. reporter: really? and that comes after last year when the prices were through the roof, right? >> it's about as high as it could be last year and this year is just absolutely the complete

opposite. reporter: stuart the input costs stayed high. i want to see the bait if i can, in addition to you run this boat and that's diesel fuel. >> yes. reporter: that's one thing. >> we got pig hide we use. reporter: that's pig skin? >> yes, and this is herring that we use, and the price of all of this has just kept increasing and increasing over the years. reporter: so when you go out on a run to bring the traps in, how much money do you got in going out? >> well just headed out by the time we've made up and fueled up we're somewhere between 600 and $1,000 in expense just before we even pull the trap. reporter: and why hasn't the price gone down after that? >> the price of lobster is down like domestic market is kind of gone away a little bit. reporter: they have backed off lobster because it costs too much. >> correct it's considered a luxury item so that's something people look at. reporter: gotcha well luxury

item for you and me, stuart because lobster rolls are $35 or $40 unfortunately the price to the guys pulling it out of the water not so much. stuart: yeah, that's a tough situation to be in. everything else is going up. lobster prices down. >> they love herring. stuart: jeff we've got to go. see you again later. still ahead tammy bruce, congresswoman kat kamak, steve hilton and leo terrell, the 10:00 hour of "varney" is next. you'll always remember buying your first car. and buying your starter home. or whatever this is.

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stuart: it is 10:00 eastern. straight to the money, the market is turning south. the dow industrials are down 266, 3 quarters of 1%, nasdaq composite down 218 points, 1.6%. here is the problem for the nasdaq and big tech, the yield

on the 10 year treasury going up 2.96%, close to 3%, big tech stocks don't like it when yields go up. oil, $90 a barrel, bitcoin lost 7 in the cryptos, $21,330 down $2000. the wall street journal has a headline saying wall street bets that the fed is bluffing, high-stakes inflation gain. has inflation peaked, do you think the fed will go soft? >> everybody thinking the fed made have it. many notes in clients say the fed never pivoted. they potentially opened the

door to less hawkish in this if the data provided it so. they had less hot cpi, but inflation is still pretty high. it is at big levels. they took their feet off the gas but i don't think they will do that if inflation remains strong. stuart: do you agree with it. is rallying on a false premise? >> they can't say that won't let their foot off the gas, you will get a big rally in the markets, see the dollar fallout, asset prices start to rise, the battle is still going. we have a tough winter. look at the german ppi, 5.6%

month over month, not a year-over-year number. producer prices, this is a global issue. i do think and believe we will see these rotations where it gives opportunity for the market and we make money so i think you have to stay in tune with what the data say. the strategy needs to be. stuart: you don't feel enthusiastic about jumping into the market. >> and the measured downside, they are protected at times, and this is not the time to be aggressive. we rally 15%, 17%, just from the july low in the s&p and finding resistance at the 200 day moving average.

the market consolidating, going through motions around 4200, and find buyers that will defend a pullback in this market. now is not the time to be aggressive, to monetize the run to buy back on a pullback. stuart: thanks a lot. we are looking at meta, down another 2%. what is the story? >> reporter: morgan stanley turned cautious, they cut their price targets. above where it is now. they spend less time on facebook. it is posting but popular but not as lucrative. stuart: is meta-losing to tiktok. general motors reinstate the dividend.

lauren: $0.09 a share payable september 15th and share repurchase program up to $5 billion. the new spending law, inflation reduction act, 1% excise tax takes effect next year. stuart: home depot is a stock buyback getting in under the wire. robin hood down 5%. lauren: crypto currencies hitting them. they put out data that shows their average trades per day the generate revenue down 16% in july. stuart: fell off a cliff in july. how about apple. and >> you should update your apple devices now, and vulnerability and certain iphones, where

hackers can get in, and they take complete control of your device. apple released emergency security update, you might want to consider updating it. stuart: ask my grandchildren. now this. cnn anchor brian stelter is outcome his show, reliable sources canceled, and has new owners who want to change. and they had done nothing but bash trump. and and they don't want to know

about fentanyl, they turn a blind eye to the crisis they helped create. they are in love with doctor fauci because he clashed with trump. they are vaccinated, boosted at masked because trump didn't want those restrictions, their guiding principle, on all occasions is hate trump to the max. cnn is owned by warner bros. he wants and network for both democrats and republicans. more straight news. it is a good start. tammy bruce with me now. stelter was taken off guard by the news and the writing was on the wall for some time. the sunday show shared 26% of its audience year over year. how could he not see this coming? >> he made a very -- made it

very clear they are looking to make major changes with the cuomo's departure, he has been very vocal publicly about a shift from partisan left-wing opinion to perhaps some actual news. there' s nothing wrong with opinion. i issue opinion every day but at least it is known as being within that category. these were programs masquerading as news programs whereas it was constant partisanship. brian stelter particularly became known as left-wing pundit. ratings of his show, this is a business. you want good ratings. in the demographic that advertises, care about his show, down 41% from last month from last year. it is an absolute crash but the network has been crashing. and obligation to shareholders and businesspeople to make sure

the network works and liberals have fled that network and they want to have a network that is watching it. stuart: can the media, the mainstream media, get the reputation back? they are in a whole at the moment. >> if they do their job. there is nothing wrong with opinion if you have that as being opinion but people want information. this is why fox has more liberal viewers and other networks combined. you have people watching fox, they know they will not agree with everything but they know they will get a wide spectrum of information and perspective and basic news that they can use. that is what americans want and they see what a successful template is. that is fox news and fox business, something that is obvious, what people in the news and journalists wanted to do.

this thing that happened is relatively new. people fling over the cliff when it came to liberal partisanship, far left partisanship. that is unusual. it has failed. they have become competitors again. stuart: very disappointing. the founder of cnn's opening-day, 1980 world trade center in new york. over the years we just saw that network descendent what propaganda machine. at first we covered the news, the news was everything, lost control of it in the mid-1990s. >> before fox news all of us were watching the situation in iran. and in rack, the war coverage cnn was providing. broadcast networks were taking that information, feeding it.

it was a marvel about what could be accomplished. it is a sad, heartbreaking, dissolving of anything of that mattered, everything that was important. we have seen that it can be done. if they are serious they can bring it back but they are facing a hard time. with donald trump out there, with all these, you've got to stay away, don't go near the shock left. say away from the chocolate and you will be a watchable network to be competitive. stuart: i hope so. you are all right. thank you very much. next case. elon musk says twitter is hounding him for the names of every person he talked to about his attempted takeover. we have the latest on his legal battle. new study shows covid can impair your brain function two years after getting infected.

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stuart: yields are rising, the nasdaq investors don't like it. the dow itself down 273. another bus of migrant arrived in new york city and large groups of migrants follow the southern border. this is becoming a differently -- deadly trip these migrants but it is not with that, is it?

>> no stopping the migrants despite the dangers, border patrol agents, a gunboat whizzing by on the rio grande river, or the airboats to navigate the waterways. the equipment the, are using is simple, and and more of them, it was a special type of clothing, to blend in, and camouflage into its surroundings. one of the ways they are helping smuggle these large groups across without getting caught themselves. a cvp source in the last 24 hours, 1700 migrant apprehensions in this one sector in a single day.

>> at the beginning of this crisis when border patrol hit 800 they would freak out and go we can't take anymore. napa numbers 2000. what happens next year if this continues? it will be 4000. no end insight. >> reporter: this morning in eagle pass our cameras capture smaller groups who were already on the us side, one was close to 200, a second one nearby, 150 people. in del rio last night 37 migrants safe and rescued out of a tractor-trailer, earlier in a separate incident, 150 migrants packed in the back of an 18 wheeler trying to enter the country. everyone survived a miracle considering the sweltering summer heat. stuart: there were live shots

watching people. we showed you this last hour. looks like candy but fentanyl, rainbow fentanyl. republican from florida kamack, can't imagine a parent looking at that and not being scared to death. >> reporter: as the wife of a first responder, my husband, matt, is a paramedic, firefighter, he goes to calls every time he is on shift when they are dealing with overdoses. we have seen kids that are overdosing on what they think is taking xanax, and turned out to be fentanyl. she lost her daughter, 28 years old. thought she got it from a kono -- coworker but turned out to

be fentanyl and she died from that tragic overdose. this is happening is a direct result of open daughter policies the biden regime is pushing and that is to be a fact because in my own district, my own sheriff's are finding fentanyl with stamps of four cartels on them. members and again this to make these fentanyl bricks turn into pills that are looking like other types of prescription medication. stuart: sorry to jump in on this but don't know how many times we had people in this program, people in authority know what is going on, by hundreds of thousands and nothing is done. that's what i don't understand. i can't understand why nothing is done when fentanyl is killing 100,000 young americans. >> this is wild. we in the house of

representatives put forward legislation, we had a bill called the stop fentanyl act and nancy pelosi refused to allow us to debate it and vote on it. they are prohibiting congress from taking action on this issue that is impacting every community in the country. i am right now as we speak in live city, florida, i left the meeting with 25 wardens of prisons. the issue they wanted to talk about his drones being flown over the prison system is dropping fentanyl which is causing a trauma this issue and prices in the systems because so many correctional officers responding to overdoses are getting secondary contact with fentanyl which is putting them in danger, this is a true public health crisis. stuart: which institution, which state organization is supposed to take care of it? is it border patrol, fbi?

which authority is supposed to get involved in this and stop it? >> that is the thing i question. xavier becerra taking no action. stuart: you never see him. >> he the ghost. every secretary out there delivering a talking point, that that is not actually -- he never shows up. that's the thing. democrats claim to care what is going on but they have to show up if they want to pretend they care. you have kids dying from the number one cause of death in this country from 18 to 45 is fentanyl, not climate change, not voting, not fentanyl. it is a true crisis we have to address and we need nancy pelosi to get out of the way so we can pass legislation that will stem the flow from the board but address the demand.

stuart: you probably have to wait for a change of control in the house of representatives. you can't do anything until after november and when the house back. >> exactly. not just the house. we have to pass meaningful legislation to address this quickly shoe that is killing our kids and communities, have to have both chambers. stuart: congresswoman cat cammack, please come back and see us soon. we believe this is a dreadful issue. cat cammack, everyone. where are we now? the dow industrials on the downside, the tune of 240 points. the white house announced new funding for programs to combat substance abuse in young people. how much will they spend and what will they do with their money? lauren: you sound like you are doubting this and you are right, $224 million in funding

for grants to 99 programs, on top of $93 allocated this year, nothing on closing the border, illegal and deadly drugs come in. they are not calling this a fentanyl or opioid epidemic anymore. it is an overdose epidemic, and to put numbers on it, we had 108,000 overdose deaths last year. 80% to fentanyl. that is amazing. a one they don't use the word fentanyl. they call it an overdose death. change the language. lauren: overdose epidemic. stuart: to make it more susceptible to their way of thinking. lauren: another swapping of the words to do something different. if you look at the number of fentanyl seats in july at the southern border, 800 pounds more or less. in one month, that was what was seized in all of 2019.

stuart: shocking numbers but thanks for the report. the governor of florida, ron desantis says florida is the place where woke goes to die but his lottery stricking how companies and schools can discuss race was just blocked by a federal judge. we have that story coming up. the white house insists the new tax and spend bill will take prices down but there is growing concern prounion provisions in the bill will lead to bigger price tags than democrats advertised. hillary vaughan has the full story 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.

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jobs, and it is down 75%. >> what's wrong with rivian. lauren: is down 74%. the cheapest package you can buy. most people are going for the adventure package, yet they are trying to simplify and streamline the supply chain and get the deliveries made. they are far from their goal. stuart: talking about volatility. footlocker named a new ceo, mary dillon as the next ceo and they are up 22% because of that. lauren: she will succeed richard johnson. he retires. one of the goals, a lot of people, it is the younger clientele, they are shopping on

their phones but not buying something so one of her toughest jobs is to figure out how to make customers complete their purchases and they are reliant on nike, nike is pulling back. stuart: it is up 22%. the white house insists there tax-and-spend bill will cut inflation but there's concern that prounion provisions will lead to a bigger than advertised price tag for taxpayers. what do you have on this? >> reporter: the president promised to be the most prounion president ever and he's making good on that promise time tax credits and government subsidies inside the chips act and the inflation reduction act to union work. >> president biden: companies building semiconductors with prevailing wage. to ensure tens of thousands of new construction jobs are union jobs.

>> reporter: several in the construction industry hoping to build clean energy infrastructure say the strings attached are hurting their industry, the associated builders and contractors say 83% of the billions and incentives in the inflation reduction act are tied to union only projects and they say that alienates 9 of 10 construction workers who opted not to be part of the union, the vice president saying penalizing employers that pay wages based unexperienced, quality and market rates and limited opportunities for millions of construction workers who choose not to join a union is no way to legislate. according to the competitive enterprise institute the word prevailing is used 27 times in the inflation reduction act which means people hoping to cash in on these projects have to pay a union wage and that makes projects more expensive and less competitive cost wise. to put it in perspective beacon hill estimate mandating a

prevailing wage adds 7% of the total price tag of the project and this is taxpayer money we are talking about so taxpayer money is going a lot less further when unions are involved. stuart: thank you very much. three democrat run groups launched a $10 million ad campaign to publicize the inflation reduction act ahead of the midterms. listen to this. >> president biden democrats passed the most powerful climate law in us history. it ramps up clean energy, more wind, more solar, more electric vehicles, saves money on energy bills today. stuart: you side. guy benson is with us, $10 million doesn't sound like much money to me as you go into the november elections. >> at the turn of money but not anna national scale and not for a campaign like this.

as we were debating and discussing as a nation this bill was all about the reduction of inflation, then it passes, they cleared the her land is all about climate change, the talking points shifted quickly, they are barely defending the reduction of inflation component which was the name of the bill because what they won't put in those ads for $10 million or any amount of money is nonpartisan studies found it won't have any effect on inflation. what those ads won't say is the tax increases are going to hit and impact every income group in the country was what the ads aren't going to say are talk about is doubling of the size of the irs, every senate democrat voting against protecting middle-class people from new audits in the new irs on steroids. they can spend whatever money they want marketing this to the country. it might have some effect but the republicans and

conservatives will be pointing out things that i have and i think the best case scenario it will be a wash and pulling shows the majority of americans do not believe the inflation reduction act will do the crucial central thing the misnomer name suggested would. stuart: how about the mar-a-lago rate. doesn't help president trump's political standing or hurt it? >> it depends on what the outcome is and what the fact of the case are once we learned the. of is devastating for trump that won't be helpful and you've got independents of a different mindset the republican base voters. in a short-term if it turns out to be a fishing expedition at huge abuse of power and overreach, it will galvanize and energize republican voters who are already pretty stoked for november and even grow that enthusiasm advantage larger which could be helpful to republicans. it is a wait-and-see for me. stuart: you might have to wait

quite a long time. i think they will spin this thing every day and see what they can make of it. thanks for joining us, see you again soon. a federal judge has suspended part of governor desantis's stop woke act. so you can't -- lauren: it restricts companies and schools from discussing race or how they discuss race. a federal judge next the part that affects the companies and the discussion of race, this is what the judge says. florida truly believes we live in a post-racial society, let it make its case but he cannot win the argument by muzzling its opponents. he said stop woke is a violation of the first amendment. we when interesting. lauren: that just affect companies. it is a long-running debate. stuart: more companies want

workers to return to the office by labor day but only one in 5 workers want to be back in the office. could we see a revolt. restaurants turning to robots to fill the worker shortage, we will show you how a kitchen robot is leading the future of fast food cooking. we will be back. ♪ i've always loved building things. not just structures and skyscrapers, but teams who make it all possible. after all... we wouldn't be where we are today without them. so we made sure that like these buildings... their futures may also stand the test of time. ♪ ♪

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stuart: we are holding the loss of 200 points on the dow and the nasdaq, that is where we've been the past power. a new study shows how many companies are planning to lay off employees. lauren: half of them are planning to redo head account. count. 52% raising hiring. 42%, at the same time 2 thirds

are boosting pay checks. the bottom line is if you are a skilled worker and experience you have the upper hand but for everybody else made the not much. stuart: i say do it now. lauren: won't do anything, sell a car. stuart: we are told, a new kitchen robot called flipy is leading the revolution in fast food cooking. that's what we are told. madison all worth in indiana where they have these robots. how much does it cost compared to a real worker? >> $3000 a month. closer to $5,000, saving money right there, also more efficient and i want to bring

in the ceo of robotics, mike bell. tell us how this robot works. >> we work hard to make flip neck easy to install and operate for team members. it is essentially overnight. flipy is trained to recognize the recipes. ali worker has to do is enter the war into the tablet and flipy takes it from there. and finish foods by the end. >> reporter: it can recognize if it is french fries or onion rings or things of that nature. this fry station would take one or 2 workers without flipy. just because flipy, doesn't mean we have less workers at white castle. since last year, and and they are at a record high employment rate. >> in the major pandemic, it is

easier to get other people in the right places. and and flipy does that. it is working hard that they agreed to a contract to employ one hundred flipys across white castles around the us. over the next couple months or years they have 100 flipys across the white castle brained. stuart: can't wait to see it. there's a full court press from companies who want their workers to return to the office. are you going to see a revolt? ashley: flipy will show up but

returned to office showdown. companies like apple and linda greenhouse telling workers to come back after labor day but it may not be that simple. demand for labor remains a rocksolid and skilled workers have a lot of leverage. research shows one in 5 workers want to be in the office all week, just 20% but managers claim being back in the office will time improves collaboration, coaching and mentoring but for now a hybrid schedule seems to be the popular option but another survey shows 70% of workers would quit if they were forced to be in the office full-time which is fascinating. stuart: that pandemic changed a lot of things. back to you later. a look at the markets, plenty of red ink but pretty stable level, still down 200 for the

dow and still down 200 on the nasdaq. the 10 year treasury yield closer to 3%. that the problem for big tech and the nasdaq, $17.61 per ounce. bitcoin, selling, oil, 90 one dollars a barrel. natural gas, where is that? still above 9, yes it is. it is up, down one send, and the average price for a gallon of gas down $0.02, $3.91. you can find the cheapest gas in america in arkansas where the average is $3.42. a school district in texas pool dozens of books from their library shelves including the bible and anne frank's diary. neil is on in the next hour. elon musk get more political, sat down for a fireside chat with kevin mccarthy in front of republican mega donors. does this make him an

establishment republican? vivek ramashwami deals with it next. ♪ rocket man ♪ ♪ ♪ 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. ♪

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stuart: elon musk since twitter is hounding him for the names of people he talked to about his twitter buyout. why are they hounding him? ashley: trying to get as much information as possible how he plans to finance his $44 billion buyout of the companies can both sides getting ready for trial that will happen in october. musk complained to a judge he's being hounded by twitter to provide all the names of people he discussed the buyout with including friends, colleagues, companies and he claims anyone he may have had a passing conversation with, musk has been served with a mountain of documents which twitter has sued him to complete. musk himself is filed notice of subpoenas served on several ad tech companies to back up his claim that twitter has understated the number of bots and spam accounts on the platform. the trial which should be interesting is set to begin

october 17th in delaware. stuart: dan i've told us yesterday he expects that musk will eventually get twitter. i guess he's going against the grain on that one but only time will tell, we will find out later. elon musk appears to be deepening his ties and the republican party, did a fireside chat with congress and kevin mccarthy earlier this week. vivek ramashwami joins us, the richest man in the world sitting down quietly with a man who may be the speaker of the house in a couple months and third in line for the presidency. i'm intrigued to see a rich guy sitting down with a powerful republican like that and my question, is musk now and establishment republican? >> my view is we need to have more conversations the cross a lot of boundaries and labels and i don't like labeling anybody, i don't like being labeled this way either based on who you talk to, i would

rather say we can have conversations without boundaries or partisan jerseys on. why say elon musk has a particular partisan label attached to him because he had a conversation with kevin mccarthy absolutely not. i would not want to be judged that way either. at the end of the day i love it when people break boundaries doing what is not necessarily expected of them, having conversations in the open, we need more of that and do it without labeling. stuart: do you think people listen to musk on politics? >> i don't know that people optimism to musk on politics. i don't know that he's doing that. my view about people's opinions on politics is every citizen's voice articulate equally on the most important political questions of our time and whether you are republik are democrat we are following into an area where we think we ought to ascribe higher weight to someone's opinion because they have a lot of money on a political question where in a democracy every citizen's voice is supposed to count equally whether you are not 50 mile

radius of where i am in central ohio, our opinions on her shoes like a portion of the first amendment with the second amendment no one's opinions are more valuable than the next guy, that's what it means to be live in a democracy. when you are wealthy guy so we value your opinion accordingly. >> maybe about markets but not about political questions. stuart: fair enough. record number of us are self silencing, 62% say in the past year they have avoided saying something out of fear it could be offensive to others. i don't think that's necessarily bad. we are filtering ourselves and making our society a little less toxic, what do you say to that? >> interesting dialogue because i look at it the other way. the best measure of the health of a democracy is percentage of people who feel free to say what they think in public. these survey results suggest we

are doing poorly. part of respecting citizens, coequal respect among citizens means you are free to express your view and you respect someone by expressing your view even if it is a different point of view than the person on the other side as long as you give them the courtesy of doing the same in return. the discrepancy in these surveys suggest that we shouldn't pay attention to a lot of these survey results unless we have studied how people's responses vary between what they say publicly and what they say privately. until we get to the bottom of that most surveys are meaningless. i think the health of a democracy depends on publicly saying what we say in private. stuart: you are a very original thinker, not just because you are rich, one last one. >> i usually get called a weird guy for thank you for praising it as original instead. appreciate that. blue when i have run out of time but i would like to continue that discussion because that's very much central to the society.

thanks for being with us this morning. we will see you again soon. we have tomi lahren, steve hilton, doctor marty makary and charles payne. bed, bath and beyond a classic example of the dangers of mean stock investing. the stock went straight up but collapsed yesterday after ryan cohen sold all his shares and options, this isn't investing, this is gambling. that is "my take" after this. ♪ i got some of my gold before i came to this country. i got some of my gold before you passed the bread.

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as well as the local markets where you do business, can help lay a solid foundation for the future. pnc provides the resources of one of the nation's largest banks and local leaders with a focus on customized insights to help your business achieve its goals. that's how we make a difference. ♪ politicians don't think long-term democrats are killing the atlases, investors and entrepreneurs that hold the economy on their shoulders with this tax and spend bill. >> now's not the time to be aggressive but to monetize the run you have seen and be ready to have passion to buy back. >> they throw a temper tantrum which is what they should not do. they need to go 75, keep their foot on the gas. >> get out of new york and get

to florida and establish some resiliency so the government can't steal my money and get my ducks in a row. the government is so wasteful, you are lighting half of it on fire. ♪ stuart: it is a beautiful day in new york city lose one more time by daft punk. >> on your playlist. stuart: it is on my playlist now. stuart: statue of liberty in the harbor, beautiful day, friday, august 19th. have a look at the markets. we've got red ink across the board, the dow down 240, the nasdaq down 250, some selling going on. big tech is all down because the nasdaq is down and the treasury yield has gone up. microsoft, apple, alphabet, amazon, meadow, all down and

the yield, that is what is doing a, the yield on the treasury up 3%. now this. bed, bath, and beyond is the classic example of the dangers of mean stock investing. i don't think it is investing. i think it is gambling. earlier the stock went straight up, got lots of mentions on redit, retail investors piled in but thursday afternoon investor ryan cohen sold all options, the stock collapsed. it is 11 a share. those investors who bought earlier in the week are left holding the bag, they have been introduced gambling, not investing and then there's jake freeman, a 20-year-old student with his uncle and $25 million in july, he bought several million bed, bath, and beyond shares at $5 apiece, sold on tuesday 28 and made $100

million. jake freeman is not a retail investor and says he didn't know it was a mean stock in the first place. he got rich quick. ryan cohen got rich too but there's a lot of retail investors who lost their shirts. there's a lesson in that. third hour of varney starts right now. charles payne is sitting to my immediate left looking a little upset. i don't know why but i will put this to you. i say this mean stock thing with bed, bath, and beyond is gambling, not investing. charles: i agree it is gambling amenity stock goes up 300% in a few days and you buy it there and it is not investing but i don't know that you could call it gambling or trading. on wall street a lot of people say i am selling it, buying it,

one thing i want to take you on about is all these meme investors or traders lost their money. if you bought it a week ago, they open at 11:00, two weeks ago you would be at 68% % at this moment, 2 weeks ago if you bought it a month ago you would the up 115%, one hundred% of all professional money managers out there, right now at this moment but more portly -- stuart: how many got in three weeks ago. charles: a lot of people got in. i put out sweet. stuart: they got in when it started to go up. charles: two weeks ago you were up 68%. 122 million shares. let's talk about the more important thing, there's a guaranteed way to play the stock market.

this is where i think the media piles onto redit traders calling them dumb and stupid. 2005, the top 15 stocks, blue chip, if you bought them because they were great trades, ge to this day, 72%, citigroup down 89%, bp down 46%, bank of america down 27%, vodafone 54%, ait 95%, this is a blue chip portfolio, the top lanes, cream of the crop, was that gambling or investing? stuart: it was investing. charles: you lost your shirt and 17 years later you can't get those years back. microsoft you know very well up 986%. stuart: was i gambling? charles: if you bought at the peak in 2,000 and didn't get

back there until 2014, 14 years to breakeven. over that timeframe 140 for million americans died so my point, where is the guarantee in anything, everything is a risk, some are riskier than others but the notion that everyone who does this is losing money, the notion that there is a guaranteed way to invest in the stock market is lost. stuart: i will leave it right there because you might have gotten the better of me. charles: take a little work. stuart: well -- charles: we cherry pick, you bought tuesday and it is wednesday. who is to say 10 years from now we may say people who bought it at 23 didn't make money or two years from now. stuart: okay -- charles: you can't assess investing with simply long-term on a day-to-day basis and say this investment is a loser. we when it gets me worried a lot of youngsters are treating

investing like gambling, pulling the slot machine handling hoping it goes up. stuart: there are protections for the. when you look at what ryan cohen did with respect to bed, bath, and beyond -- stuart: i don't think the sec will do anything. ryan cohen unless he exquisitely said he would hold, that makes him a dirt bag but that's a different subject, what i will say, the reason i bring up these blue chips is these are names people thought would do well in these kids you talk about watched their parents buy these stocks. i'm doing research on 401(k)s and ira millionaires, so few of them, between the maybe 600,000, but 36% of americans, 40% have iras, 40% have 401(k)s, there should be millions of millionaires, something is not right and i think people see that. we when maybe they are putting

their ira money on the side. you let me in. we will be watching you at 2:00 pm eastern this afternoon, today. stay there for second. the petition to recall los angeles county district attorney george gascon failed to qualify for the ballot, steve hilton is here. why did the recall fail? >> reporter: not become citizens and residents and voters of los angeles approve of george gascon, that's not the case, you talk to anyone in los angeles, they are sick of him it is far left policies and the crime wave the to resulting. i'm afraid the reason the petition didn't make it, we've got the numbers now, they needed to meet a certain threshold. if you look at the numbers, 88,000 of the signatures that were submitted were not registered voters, 45,000 -- 32,000 have the wrong address. on and on it goes.

what we are seeing this has been established by well reported article on redstate.com if anyone wants to check out his miss incompetence and mismanagement by the recall campaign it especially by consultants that it employed. that's the terrible thing about this. everyone you speak to in la wants to get rid of this guy, there was an opportunity to do it and it was messed up by mismanagement on the part of the campaign. blue when nothing changes in los angeles. i will change the subject. california has changed the time for high school students to start classes. schools won't start before 8:thirty am. they let the teams sleep. what do you think of that? >> this may be one of those terrible moments when you and i disagree. i'm for this. i'm the father of one teenager comes into have another one. sleep is incredibly important.

i know there are pro-plaps and consummate not a clear-cut issue. hard for parents to drop off at school and get to work on time it if you delay start time you delay end time, that may affect afterschool activities but look at it the other way, sleep is very important in rural areas where the transportation to school is harder, that extra half-hour could make a real difference so on balance this is the right move. stuart: we've only got 10 seconds left so i can't take you on. i seem to be losing various arguments this one, i lost charles on gambling, losing to you on sleep and teenagers, i'm losing all around. they are all laughing at me but it is friday. >> you can get away with it on a friday. thank you very much. we will be watching you. the next revolution with steve hilton, fox news channel, 9:00 pm eastern. i'm looking at you for the movers. i found out what davida does, dialysis. >> number one on the s&p 500,

ubs turns. upgraded them to buy stock, a 5%. they say the selling it is seen after the supreme court ruled against them in one case is overdone. stuart: i'm not going to take a gamble on that one. next one is american airlines, what is with that? >> passenger bill of rights, transportation secretary peter buttigieg sends a letter they want to do more to assist passengers when delayed or flights canceled. county flights were delayed? 1/4 of all flights delayed in the us. with one maybe he should think about letting pilots fly. if you have a 79-year-old president, don't see why you can't have a 66-year-old pilot. lauren: a lot going against the particularly staffing issues. more fines and regulations.

stuart: a company called askhim therapeutics. lauren: they have a depression drug that got fda approval which why is this important? later this year on the market, 20 million americans suffer depression, but the market right now is crowded by drugs and they take 6 or so days, weeks, to take effect. this bill available later this year would take effect really quick. stuart: later this year, treats depression, no wonder it is up 30 one%. thanks. a school district in texas, dozens of books taken from the library shelves including the bible. leo terrell is a civil rights attorney. i wonder what he thinks about book bands, leo is on the show. will a tax credit be enough to get people to switch to electric cars? watch this. >> don't have the income available to buy a new car?

>> what is $7500 against the cost of an electronic car. stuart: washington may be a little out of touch with real drivers, you might want to take advantage of those free covid shots and boosters now because come the fall the government stop paying for them. that is next. ♪

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stuart: i always thought it was american man. we are an american band. as you look at indianapolis, 79 ° right there. washington thinks a $7,000 $500 tax credit will be enough to get people to buy a letter cars. what are drivers saying about that? ashley: not impressed, the inflation reduction act includes that tax credit of $7500 for electric vehicles but it is only available for a select list of cars made in north america. it is a nice bonus if you were already planning to buy an ev but the majority of people who spoke to fox news said they are still expensive plus they believe the current infrastructure does not make driving electric vehicle practical. listen to some of the responses. >> not going to even think about it because we don't have the income available to buy a new car.

>> we will be getting an electric vehicle. probably not in the next year. >> at the current moment an electric car is more of a band-aid for the climate issue. >> what is $7500 against the cost of an electronic car? ashley: good question. sedans cannot cost more than $55,000 to qualify for the credit while suvs and pickups are restricted to $80,000, those prices are outside the budgets of many drivers, one person said he tried to buy a tesla a few years ago but the wait was so long he gave up. stuart: got it. on a similar note, rivian canceling their least offensive pickup truck, it will streamline production, down $33 a share. we've got plenty of red ink out there, the dow is down 300.

that is almost 0.9%, the nasdaq going down 2% lower as of right now, the administration is planning to speak of the program that pays for covid vaccines and treatment, meaning people will have to rely on their own health insurance to cover costs. doctor marty makary joined me now. do you think people will be willing to pay for four shots a year? they already had trouble getting people to get the shot when it was free. >> it will make them think twice. we spent $1 trillion on covid and it is not sustainable was why are we not covering pediatric for hiv org breast cancer? out of the last round the -- stuart: sorry to interrupt but there is a problem with the sound quality we are getting out of view. we will fix the problem and i will get back to you almost immediately. a new study shows which drugs

failed to help bring down hospitalizations during the pandemic. the you have the failure list available? ashley: i do indeed. the new study found three generic drugs, the controversial anti-malarial inver invermectin, all failed to prevent the kind of severe covid 19 the leads to an emergency room visit or hospitalization, the research showed none of the medications have any impact on the primary outcome which included experiencing low oxygen. each was touted as possible covid 19 drug especially i ivermectim which gained a cult following during the pandemic but none proven effective in actually helping treat people with covid 19. stuart: thanks very much.

we have the sound quality restored, doctor marty makary. i was talking about the government will not pay for vaccines or treatment. what impact is that going to happen. will people pay for it themselves? >> many employers will covering and insurance company will cover it but maybe they will think twice. you have -- maybe they will think twice. it's not sustainable to spend this amount of money. it is a backhanded tax on the poor in another way. you need to come up with a sustainable pattern. the administration will meet august 30th to find a path forward. doesn't make sense to cover covid and not pediatric lymphoma or hiv or other conditions. stuart: patients recovering from covid can experience ecological issues for up to two years. cut through the lines.

are they talking about brain fog? >> they are and anxiety and depression and a slight increase in seizures. we are talking a small increase. covid is inevitable in children, not sure how we are noticing this data but there's a slight uptick in these conditions. stuart: childhood vaccination rate for polio, particularly low among certain religious groups. there's concern this triggers a wider outbreak. are you concerned about this? >> not a wide outbreak but those who don't have vaccination are at risk. it is not circulating widely but overseas they use a vaccine that's a live virus and that's where these cases are coming from. the us uses and inactivate a vaccine virus.

you they need to boost some people. stuart: is it possible there are large numbers of cases or cases in new york which we've not yet discovered because the symptoms are low-level and come out later. not an explosion but large increase in the future? >> there's one full-blown case in the new york suburb but beyond that, people with subclinical polio and a number of regions, but not full-blown. stuart: the great terror, in the early 60s, we were very aware of dangers on polio and when the vaccine came on everybody got it and polio was eradicated. it is back now because the vaccination rate has fallen away.

>> trust in public health was higher, they did a full year clinical trial, it was a different time, horrible condition and 20,000 people committed to an iron lung machine, we've got the vaccine. stuart: to your member wilma rudolph, the american sprinter in the 50s, got over it, the 100 m final in 1960. i remember it distinctly. doctor makary, see you again soon. apple telling customers to upgrade their devices now. and they gain access to their phone but the judge has ordered the release of the redacted affidavit.

and leo terrell is a lawyer and he joins me next. ♪

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stuart: i like it and i love that view. the beaches in florida near saint augustine on the east coast, 84 °. follow us on spotif a matt, scan the qr code. this gives you free music. check the market. the dow is down 270, nasdaq is down 260. the s&p is down one and 12:45%. >> $2 trillion worth on the markets. stuart: thank you for

explaining that. was lost for good reason why we are having a selloff. warning customers to update their software and they say do it now immediately. what are they worried about? >> we should all be worried about state-sponsored hackers in particular usually targeting politicians, journalists, business leaders have sensitive information which apple is telling all ipad mac users to update their software immediately to patch these vulnerabilities and they directed me to their security updates they announced last night, warning about maliciously crafted web content which may lead to arbitrary code execution and that take over the entire device. through web kits, anybody, anybody with an iphone going back to an iphone 6, update your software immediately.

how do you do that if you open your iphone for me? you have the settings. we hit settings and click software updates and install and that the same process, you can do that. stuart: covering anything else? susan: it is malicious. the pegasus hacking system that has been infamous and a lot of the attacks. even politicians who have found evidence packed into eu staff members phones using pegasus. apple has been trying to prevent the said they sued the group from hacking into these iphones. a when you are the only person other than my grandchildren i give my phone to and they have it for 10 seconds. susan: these are large fonts here, looking through this right now.

stuart: donald trump's team calling for full transparency after a judge ruled to partially unseal the mar-a-lago affidavit. he made clear his view that the american people should be permitted to see the unredacted affidavit after the break-in in his home in mar-a-lago. we won't get the full story, are we? >> no, we are never going to get the full story and you know why trump said that? he has nothing to hide and i want people to understand i practiced law for 30 years, i challenge search warrants and the language the department of justice is using is boilerplate. if they wanted to go into your house they would say the same thing. we have confidential information, we don't want to jeopardize the investigation. this was a unique historic search warrant. it is political. or search warrant for the president of the united states

of america, former president, what is the justification? it is purely political. those search warrants are designed to incriminate, not exonerate, the department of justice is on solid legal grounds they have nothing to hide but they have something to hide. stuart: i keep saying it, this delay, while it is still under wraps, would simply encourage leaks and there will be leaks from the government side making trump look awful and they will spill it out, spell it out as long as they can. this is a deliberate -- >> you are 100% correct and i want people to understand if they look at the search warrant through the lens of a legal criminal case they are off base. this is purely political and what you said about the leaks, the leaks, you don't leak criminal search warrants, this is to influence, you have this

constant drip drip drip and it will until next thursday. we still may not get it next thursday, it is a. stuart: change the subject. the school district in texas pulling 40 books from their libraries including the bible, and frank's diary, all reviewed. you were a teacher for 7 years. how do you handle this book banding in schools? >> i want people to understand the headline about the bible and the diary of anne frank, this is a smokescreen, this is a local school district opening discretion as to what books should be in public school because of the implementation of books like queer gender and they are trying to eliminate sexually explicit books, trying to indoctrinate kids with gender identity books, critical race theory so they open up the forum. the true motivation of this

local community is have family community input. i applaud them and whether which book will get into the library, will depend on a committee but before, look what happened to virginia, trying to stop this indoctrination of sexual identity books and the book about the bible and anne frank, that is the headline but the real story is banning sexually explicit books in the eyes of third-graders and fourth-graders. stuart: you hear a lot about this, thank you for being here. stuart: this is a walkable video, a flash mob of looters tearing up a 7-11 in los angeles. one hundred people storm the store. one suspect started throwing food at a worker who said he feared for his life. police say the same group held a street take over nearby blocking traffic and doing donuts with their vehicles, the group of thieves ran off before

police arrived. her markable video. los angeles. still had, political strategist james carville pointing out the differences between political parties. he says democrats are silly and republicans are evil. tomi lahren has something to say about that. several republican leaders will stump at state fairs this weekend, former vice president mike pence will speak in iowa, grady trimble is there on the fairgrounds, he filed his report next. ♪

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stuart: why not play a little

beach boys especially when looking at des moines, iowa. we are showing it to you because former mike president fence is to the iowa state fair today, one of several possible presidential hopefuls appearing in key states. grady trimble is at the fairgrounds in des moines, iowa. who is pence stumping for today? >> officially for chuck grassley who is expected to win in november but the visit by mike pence is fueling speculation that he might be eyeing a run for president in 2,024. adding fuel to the speculation is the fact that he was in new hampshire a couple days ago. he made headlines in the granite state when asked if he could testify before the january 6th committee. >> if there was an invitation to participate i would consider any invitation to be directed, i would have to reflect on that.

>> pence's schedule is not the only one that resembles a presidential election cycle schedule. florida governor ron desantis is in battlegrounds pennsylvania and ohio today after stops in new mexico and arizona last week, senator tom cotton visited new hampshire tuesday and senator ted cruz was in iowa campaigning for grassley on wednesday and outgoing maryland governor larry hogan came to the iowa state fair a week ago. all these names were floated as potential 2024 presidential candidates. the democratic national committee is already on the attack and had a virtual press conference where it bashed pence ahead of his visit to the state fair this morning. it is worth noting the dnc is not said whether it will keep the iowa caucuses at its first in the nation status for the

2,024 election. republicans, the rnc is committed to starting with iowa like they have for some time. stuart: i have been to the iowa state fair, watch out for those fried 11 seals. simple as that. let's get serious. democrat strategist james carville calling out the media. he doesn't like people covering both sides equally. >> our people are kind of civil. racism is evil. misogyny is evil. the problem the republican party has is they got really stupid people in their primaries. when you have that, you are going to get really stupid people with really stupid leaders and that is where the republican party is. stuart: tell it like you see it. tomi lahren may see it differently. did he insult 74 million

americans? >> sounds reminiscent of someone else, hillary clinton, basket of deplorables. what you heard him say is racism and misogyny are evil, true, and you call half of america stupid. we vote for stupid people in favor stupid leaders. the democrat party really does believe that if you are a conservative, you like things like affordable gas prices, you like to keep your border secure in your streets safe then you are stupid because the way things are going is so much smarter. stuart: i was born and raised in england and got used to the elites looking down on me because i wasn't born into the upper classes. i get the same impression in the united states today, democrats are the elites of this world look down on people like trump voters, republicans and trump supporters and it is an awful feeling come makes you feel really angry to be looked down on. >> makes you feel angry but what they don't anticipate is what happened in 2016, the more

you anger us the more you call us stupid, the more we come out and vote. the fbi raid was to put the iceberg but keep calling us dumb, keep telling us we are not seeing what we are seeing in the grocery store and our streets and we will come out in force and show you might think we are stupid but we vote and we vote in huge numbers and the entire middle of this country's not liking what is going on so call us stupid but we are going to make some changes. blue when you still live in nashville, you moved to nashville from california. >> yes. stuart: a lot of other people go from california to nashville. >> a lot of californians. when i see a california plate, let's take a survey of the way you're going to vote because you are clogging up traffic on just don't clog up our voter rolls. stuart: are any of them going back? >> absolutely not. they love tennessee. they love broadway. they love the bars. let's hope they also love low taxes, low regulation and freedom, no more communism. if you like that go back to

california. we when you sound like the buddy out of the 1950s. >> i just turned 30 so it works. stuart: you can be my granddaughter, you realize that? you are all right, thanks for being with us. do not go anywhere. friday feedback is next. ♪ what drives you? what do you want to leave behind? what do you want to give back? what do you want to be remembered for? that's your why. it's your purpose, and we will work with you every step of the way to achieve it. at pnc private bank, we'll help you take care of the how. so tell us - what's your why? ♪

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with xfinity mobile. or add a line to your plan today at xfinitymobile.com when people come, they say they've tried lots of diets, nothing's worked or they've lost the same 10, 20, 50 pounds over and over again. they need a real solution. i've always fought with 5-10 pounds all the time. eating all these different things and nothing's ever working. i've done the diets, all the diets. before golo, i was barely eating but the weight wasn't going anywhere. the secret to losing weight and keeping it off is managing insulin and glucose. golo takes a systematic approach to eating that focuses on optimizing insulin levels. we tackle the cause of weight gain, not just the symptom. when you have good metabolic health, weight loss is easy. i always thought it would be so difficult to lose weight, but with golo, it wasn't. the weight just fell off. i have people come up to me all the time and ask me, "does it really work?" and all i have to say is, "here i am. it works."

my advice for everyone is to go with golo. it will release your fat and it will release you. stuart: it is friday feedback time and with me, lauren, ashley, susan, let's get started. first one is from gary. i agree with you about meme stocks. they are not for true investors but for gamblers. i feel the same about bitcoin. acclaim why you spent so much time on both of these? can't explain it easily. i'm something going to ask susan is it gambling or investing when you stick your money and bed, bath, and beyond? >> you think the stock market is gambling? stuart: don't answer another question. >> the terminology is wrong.

you put your money at risk which is what investors do. you want to invest in meme stocks, invest in free will and capital. stuart: we don't have time for extended debate but next week is another story. larry writes this. i love you having dave portnoy on who has a more aggressive form of investing. i hear you generally agreeing. ashley: i do. good television, certain energy, very to the point, he is younger, has an interesting perspective and is -- when he make the point he means that and i find him compelling to watch. stuart: a great broadcaster, fearless. >> he says what he feels and doesn't worry about the repercussions. we when he posted all of today's interview on facebook, instagram. has 4 million followers.

what are you and your team's favorite places to work or travel? susan: just came back from hong kong. stuart: just came back from hong kong. ashley: like to catch up with old friends, i am in florida, in a beautiful state and meet a lot of fans of "varney and company". susan: might be partial. stuart: i personally like florida, as simple as that. i never go abroad these days. why? i am getting old. next one. lauren: get off my lawn. stuart: get off my lawn is the expression. if you were offered the job of

press secretary would you accept and what change would you apply? absolutely not. stuart: lauren: i want to see you as press secretary, ratings would skyrocket. stuart: the press secretary doesn't get ratings. susan: has there been a press secretary with a british accent? stuart: that would be good. the next person wrote to us about a story we did about quiet quitting, a new trend where people stop trying hard at work so they don't get burned out. this is what jim has to say. quiet quitting will be followed by loudly fired. i agree with you 100%. if someone is not pulling their weight deliberately, you fire them. don't do it loudly, because you have lara on your back. anyone want to disagree with me? it would happen, loudly fired.

susan: got to show up and work. stuart: jack -- tell us about your tree farm. entire trees to landscapers. i sell entire trees, making nice furniture. stuart: jeff: do you have any of the furniture? stuart: no we don't. i should never have answered that question. having a go at me here. time is up. thanks for sending in more feedback, now it is time for the friday trivia question. what is the highest grossing animated film of all time? the lion king, frozen, toy story 3, or incredibles 2, the answer after this. moves fast...

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stuart: okay, so what is the highest grossing animated film of all-time? on your screen, we have the choices. what do you got, lauren? lauren: i think it's frozen. i know that seems obvious. stuart: what you got, ash? ashley: i would go with frozen too, yup. stuart: i would go with snow white, because that came out in the 1930s, adjusted for inflation, i bet you the box office take then be huge if it was adjusted for inflation. anyway, it's the lion king. all right that's the answer. it made more than $1.6 billion,

it's a computer animated remake came out in 2019, and it's the not-watched of all-time. okay? lauren: fair enough. stuart: thanks ashley, great week. lauren i'm not leaving you out great week and susan not on camera but thanks, everybody. its been a great week. middle of summer, not that much news, but we put on great shows and entertaining shows anyway. this is how i just put out the last few seconds of the show neil it's yours. neil: all right, have a great weekend stuart thank you very very much at the corner of wall and broad we got a sell-off going on and probably rival if this continues for the next four hours of and up week at least the fifth up week for the s&p 500 and the dow nasdaq looks like that's a leap to turn around a negative week into a positive one, but we're keeping an eye on it. we're also going to have ken fisher here billionaire investor his thoughts on what's going on. he's been saying of course and last time he was here that a lot of this hanging on the economy and the markets might have been overdone. that was some week