having said that i want to thank you ladies for joining me always great to see you sylvia jablonski lee kart we always enjoy your insight "varney & company" up next ashley webster ashley: i think so, picking up where we left off, unfortunately , on friday. jackie, thank you very much. good morning to you, good morning, everybody, i'm ashley webster yes indeed in for stuary varney today. we are going to start with the markets on this monday morning. fed chair powell's speech sending the markets into a tail spin on friday. that drop raised by the way, all gains for the major averages for the month of august. right out the window and this morning it looks like we're picking up where we left off the dow off 250 points, s&p down nearly 1% the nasdaq is down 1%

the nasdaq almost lost 4% on friday. let's take a look at the 10-year yield. that hitting a one month high, as the yields go up that hurts equities the 10 year up 5.1 basis points almost 3.1% for the 10-year. the two-year yield check this out the highest level since november 2007 that's 15 years, the two-year at 3.43% up 5 basis points and we know that when the yields spike, it certainly drags on the nasdaq. let's take a look at the big tech names for you. apple, amazon, meta, alphabet, microsoft, all down, apple down almost 1.5%. what about bitcoin? well also heading lower, now, below $20,000 for bitcoin, there it is, unchanged. zero. that can't be right. anyway its been six days since joe biden's $500 billion student loan handout, and guess what?

we're still waiting for the administration to answer the very simple question, whose footing the bill? we haven't gotten an answer. a federal judge says she's inclined to approve president trump's request for a special master to oversee the review of documents seized from his florida home. elon musk says by 2030 almost half of all cars being made will be electric. we'll tell you what else he is saying and as always, we've got a big show ahead for you, congressman jim jordan, senator marsha blackburn, rachel campos-duffy and chris ruffo to name just a few. it is monday, august 29, 2022. "varney" & company about to begin. ♪ ♪ ashley: midtown manhattan, sixth

avenue looking towards central park, starships, nikki manaj, we're playing that because nasa was supposed to be launching its rocket today, looking forward to it, good morning, lauren turns out the launch has been called off. lauren: well there was an issue with cooling some of the engines to handle that super-cold propel ant, ashley, so the next window, the earliest window to send artemis mission is up again , this friday at noon so this is a test mission, to put astronauts back on the moon for the first time since way back in 1972. the space launch system, that's what it's called, it's a 38- story tall rocket, it would launch the orient spacecraft, which would then go around the moon for six weeks. no crew at first, actually using dummy astronauts but then have real human astronauts in this mission by the year 2,025 year so hoping for friday but it was scrubbed for today. ashley: very good. all right, lauren, thank you

very much. let's check the futures we know they're moving lower picking up as we say from friday, let's bring in our good friend jeff si ca. jeff, good morning to you. it looks like markets are continuing this sell-off. you say, and you've said this many times, the fed has lost all credibility and i believe you still believe that. right? >> yeah, i mean, ashley, i think people are starting to get tired of me saying the fed has lost credibility, but look what happened from last year in jackson hole where jerome powell assured the markets, he showed his true inner dove and said that inflation is transitory and this time, he looked like, looked nothing like a dove. he was channeling paul volcker and he's talking about that, now there's going to be pain to the consumers to individuals participating in this economy, so when i look at jerome powell,

i don't see a man who really has a direction. i see someone whose dazed and confused and i see somebody whose lost credibility, yet he has so much influence over the market. keep in mind, he has two mandates. he has to control inflation and stabilize the job market. he's done an awful job controlling inflation. ashley: all right, we got the message. so, in this environment, jeff, i mean, it's very hard to have any , you know, to put cash into this market. you always said sell into the rallies right now. the volatility is going to continue. the hard breaks being hit by the fed. we ask questions, you know, what does that do? do we get a deep recession, do we get a shallow recession? all these kind of questions, as an investor, are there any stocks or sectors that you even look at right now? >> i would say, you know, yes, i've been selling into this.

i think the theme of the september market is going to be a green day song, "wake me when september ends." i think september is going to be ugly, and i would sell into it but there's one sector that is going to benefit and that's energy. you saw it last week, was a rough week, energy did well. you're going to see energy, now that we are going to be imposing more sanctions on russia, not only the u.s. but europe, it's going to be going to be opposing sanctions. you look at companies like exxon-mobile. exxon-mobile is on fire. this stock has been on fire for quite a while. it's going to benefit, i think, the pipelines are going to benefit. i think natural gas is going to do well, so if you absolutely have to be in the market, i would say that energy is probably one of the only places you could be right now. ashley: well, we hear you loud

and clear. jeff sica, great stuff as always , thanks for joining us this morning. i want to move on to this. senator elizabeth warren sharing hernden concerns about the federal reserve. lauren what is she saying? lauren: she told cnn that the fed can't fix supply chain disruptions, with interest rate hikes. >> i am very worried about this , because the causes of inflation, there is nothing in raising the interest rates, nothing in jerome powell's tool bag that deals directly with those. do you know what's worse than high prices and a strong economy it's high prices and millions of people out of work. i'm very worried that the fed is going to tip this economy into recession. lauren: strong words there, ashley, so jay powell said on friday that yeah, the economy is headed for a painful period of slow growth and possible rising joblessness, making this so- called soft landing mission impossible.

ashley? ashley: yes, indeed. all sorts of dire forecasts. all right, lauren, thank you very much. president biden is facing some backlash from the media over comparing former president trump 's politics to semi-fascism watch this. >> when i spoke, this wasn't a teleprompter speech. this is what he's been thinking, they said he said it outloud, this was done not on camera but it fires up democrats, it juices up the base because they want to see him be more aggressive on that but it also does, you know, become problematic because this is a guy who said he wanted to be unified. ashley: yeah, well, mercedes schlapp is here. mercedes, great to see you. comments like this from the president, look, they alienate what, about half of the country, and i thought joe biden was supposed to be the great unifier. what say you? >> right. well, i've gotta tell you, this is biden's deplorable moment. i think that the democrats, not only just biden, but charlie cri

ss whose running for governor in florida, he's on the democrat ticket, also talked about these people that have hate in their heart. this is the problem with the democrats. they attack the american people. they attack great patriots who simply love america, and want to raise their kids here, in a safe environment, and what are they getting? they're getting attacks from the left, and i have to say, it's one thing if you go and criticize politicians. it's another thing to go after the voter base, half of america, as you mentioned, ashley, who simply do not agree with the leftist policies of joe biden and the democrats. ashley: yeah, you're absolutely right. and then i want to get your comments on this. this is interesting. colorado secretary of state warning about the impact of a republican victory in november. she told the guardian newspaper, "what we can expect from the extreme republicans running across this country is to under mine free and fair

elections for the american people, strip americans of the right to vote, refuse to address security breaches, and, unfortunately, be more beholden to mar-a-lago than the american people." fear mongering ahead of the mid-terms, would you say, mercedes? >> [laughter] >> just sightly but when this secretary of state says they're stripping the rights of americans to vote, let's make this very clear. what republicans want, and what all americans should want, are safeguards around our elections. we know that there was chaos surrounding these mail-in ballots with people receiving two, three, up to four mail-in ballots. we know that over 80% of americans believe there should be voter id put in place to make sure that we protect legal votes that's exactly what we want. instead, what do the democrats give you? zuckerbucks. they give you lots of these ballot boxes that we know caused a lot of confusion during the last election that now it's looking like mark zuckerberg is not moving in that direction but

for the democrats to really threaten and create this fear mongering scenario, i think is very harmful basically for our elections. at the end of the day, americans , democrats and republicans, should all agree that we need to make sure we have free and fair elections where we don't have these situations of questionable ballots or fraud in these different districts. ashley: amen. very well-said, mercedes schlapp , mercedes, thank you so much for joining us on this monday. we appreciate it. >> thank you, ashley. ashley: okay, thank you. let's take a look at the futures , more red i'm afraid, ahead of the opening bell in about 19 minutes from now. the dow off 226 points. coming up, the governor of new hampshire, chris sununu is calling out the fbi of the mar-a-lago raid. listen to this. >> former president trump has been out of office for going on two years now. you think this is a coincidence happening a few months before the mid-term elections and all that sort of thing so this is

unprecedented. ashley: it is, so, was the fbi politically motivated? we're going to take that issue on plus the white house could be stepping into tricky legal territory with its student loan handout. ohio congressman jim jordan, well he's demanding answers and he'll be here, next. scream and shout and let it all out ♪

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ashley: looking at a shot of eastern beach in newport, rhode island where it's currently 72 degrees what a great monday morning to have a nice walk across the beach there. lucky them, that couple there. all right let's take a look at the futures not great. a lot of red, picking up where we left off on friday, where the dow lost a thousand points and now the dow off 225 with the opening bell just 10, 15 minutes away. the s&p also down about three- quarters of a percent, the nasdaq down 1%. all right, now this. the white house is facing legal questions over the student loan handout. our next guest wants to know hey , what about the americans who have already paid off their student loans? congressman jim jordan joins us now. good morning to you, congressman what do you want from the administration? >> good morning, well i think the basic question is, what they've done here is unconstitutional and maybe most importantly, it's unfair. i mean, nancy pelosi herself said several months ago that the president can't do this on his own. he can't just forgive loans

there has to be a bill that goes through congress debated on by the legislative branch so it's uncontusion all in our judgment and folks on the judiciary committee like what's his rationale for this but more importantly, americans get fairness and they know this is unfair. it's unfair to the machinist in ohio whose now having to pay for the gender stud you is major at harvard, for goodness sake, so the unfairness question is what really gets americans because as human beings we all in stint everly get fairness, i mean, from the time you're a kid if your brother gets two cookies and you get one somehow you're mad about it. we get fairness, so this is not fair, and the country understands that. ashley: all right, next one for you, congressman. republicans still favored to win back the house, but senator bernie sanders think the democrats have a reasonable chance to retain senate control. do you think there's been a shift among voters how do you

see this playing out, congressman? >> well, in any competition you want to be confident, so i've said all along i think we're going to win but we've got to campaign hard and talk to the american people about what's at stake in this election and frankly we've got to remind them how bad joe biden has been and democrats in control of the congress because frankly they haven't done one thing right. i always point out, remember, we went from a secure border to no border. we went from safe streets to record level of crime. we went from $2 gas to $5 gas, and we went from stable prices to a 41-year high inflation rate and i haven't even got into the debacle that was the exit from afghanistan. not to mention, what they're doing to americans first first amendment liberty, second amendment, fourth amendment due process rights, the attack on freedom has been unbelievable so when you look at all that the american people say look we want to get rid of these guys and put republicans in charge and if we win it's incumbent upon us to do what we told the american people we were going to do and fight for the things that really matter so i think the country gets that. again, i think americans are

smart. i think they got common sense, they know that this student loan thing is unfair. they know it's unconstitutional and they know the democrats deserve to be thrown out of office because everything they have done has been a disaster. ashley: very quickly, i want to get this one in, congressman. nbc's peter alexander called out biden for his semi-fascism comment claiming it undercuts his pledge to be a unifier. i think he's right. what do you think? >> of course he's right. this is ridiculous. joe biden, i was there on inauguration day during his speech when he said we need to unify the country, and we all agreed with that, frankly, and then what did he do two hours after that went to the oval office and signed 21 executive orders that divided the country and here he goes again. this is as mercedes pointed out this is like when peter strzok said to lisa page in that one text message when he's in walmart in northern virginia, he said i can smell the trump supporters the disdain they have for conservatives for republican s for president trump supporters is wrong and

again, the country understands that. ashley: very good. as always, great stuff, congressman thank you so much for joining us this morning. we do appreciate it. very much. >> you bet. ashley: senator ted cruz warning of the real risk of student loan handouts. lauren what did he say? lauren: oh, ashley, it was on his podcast and senator ted cruz did not mince words. he slammed president biden's student debt forgiveness plan but he also slammed baristas. >> if you are that slacker barista who wasted seven years in college studying completely useless things, now has loans and can't get a job, joe biden just gave you 20 grand. like holy cow, 20 grand. you know, maybe you weren't going to vote in november and suddenly you just got 20 grand and if you can get off the bond for a minute and head down to the voting station it could drive upturnout, particularly

among young people. lauren: he insulted a lot of people there, but in terms of the latter part -- ashley: he did. lauren: if i were a barista i wouldn't be voting for senator cruz right now, but do you drive young people to the polls? that's the whole point of that so in 2020 about 60% of young people 18-29-year-olds voted for joe biden. last month, the number of those young voters supporting biden dropped to 38%, according to 538, the website, so, obviously, democrats are looking to get that current 38 back near the 60% and that's why they think this be a popular plan. ashley: all right next one for you, the governor of maryland, larry hogan is hinting at a 2024 run. what did he say? lauren: the republican, larry hogan, says he's luke warm about a presidential campaign, although he continues to visit iowa, new hampshire, but in the meantime he has a warning for republicans and he says you better start electing better

candidates. >> this should be a really huge year for republicans, just because of the failures of the democrats who are in control of everything and biden's low approval ratings but we could blow it by nominating un electable people and that's exactly what's happening across the country and why the wave is going to be more of a ripple than a tidal wave. lauren: a red ripple. look he's term-limited so his seat is seen as a strong opportunity for democrats to pick-up, but the trump-backed dan cox when the republican gubernatorial primary in maryland, he faces democrat wes moore in november, and that's going to be a race to watch. ashley: exactly. all right, lauren, thank you very much. let's check the futures looks like we're headed down again at the opening bell, which, by the way, is coming up, next. ♪ that's what i want, that's what

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nearly down 4%, we begin a new week, pretty much on the same trend. the dow off 200 points, the nasdaq down just under 1%. let's bring in our good friend keith fitz-gerald. keith, good morning to you. i mean, when does the bleeding stop, what do you say? >> good morning, ashley. man, i just want to throw up my hands, rip out what hair i have left, you know, this didn't have to happen but the thing we don't know, ashley, is how much liquidity is left in the system? that's when the selling is going to stop, and that's not going to stop until they put a muzzle on powell and his compatriots. where does this guy go when he's destroyed a trillion dollars at the blink of an eye or a few statements. it's pathetic. ashley: yeah, and you know, look , are we headed, i mean, a lot of people say he's going to hit the brakes hard, he's already told us that. are we looking at a recession or god forbid a depression or is that an overreach as they say? >> well i don't think it's an

overreach at all. look at this. use common sense, right? the guy called it transitory for how long, and everybody knew that was wrong, and now, suddenly, he's talking about hey , we're going to keep the brakes on and be aggressive. really? i mean, you know, i was born in the middle of the night, ashley but it wasn't last night and i don't think most of america was either so i don't buy what he has to say. i think he's miss reading the situation terribly and americans are paying a terrible, horrible price for it. one in four is delaying retirement. millions of people have not gone to the beach. they can't put food on the table , and suddenly, he's talking about more economic pain i mean, how patronizing is that? ashley: yeah, and how long does this go on, do you think? >> you know that's a tough one because what that's going to depend on is part a function of how long he can stay quiet or avoid doing something stupid, which unfortunately, seems to be a foregone conclusion, but i think really we're going to have to have a couple weeks of this. the computers have to realign

and there's trillions of dollars of index funds, investors don't want to lose everything so that's going to prompt some unusual behavior and more volatility into the fall. >> [opening bell ringing] ashley: keith fitz-gerald, not a fan of the fed right now, that's fair to say, keith, thank you very much appreciate your comments but they're smiling and clapping as we begin a monday morning getting these markets up and running. three-two-one, we are off. here we go. we lost a thousand points or thereabouts, i think it was a dog pushing the button that's cool. let's take a look at the big board if we can, and oh, yes, lots of red as you can see , right out of the shoot we're down 256 points on the dow, down about three-quarters of a percent, eight-tenths of a percent. let's take a look at the s&p, all down at this very early stage, let's take a look at the s&p 500 if we can. see where we are there, yup, same story, down close to 1%

down 34 points at 4,023 and the nasdaq, really getting hit hard by those rising bond yields , down 1% even, down 121 on the nasdaq, and as we talk about the nasdaq, let's take a look at the big tech and as expected they are moving lower, apple the biggest loser among the big names down one and one-third percent but amazon, meta, alphabet, microsoft all moving lower, anywhere from a half to three-quarters of a percent and staying on big tech good morning, susan li. >> hey, good morning. ashley: what do you have for us? >> you were talking about friday's sell-off, i counted $1.2 trillion in assets that were lost in that 1,000-point sell-off, so we know that powell , jerome powell is getting more aggressive there at the federal reserve, more blunt as well on pain, economic pain to come, and you also have to remember that we are in the slow summer months. many people on vacation, lower trading volumes so this usually exaggerates some of the moves that we're seeing. i was looking at the

probabilities this morning on the merck and 70% of wall street thinks that the fed will hike rates by 75 basis points next month and that's actually up from the 50% before jackson hole jay powell. now, if you want to look at big tech i would say the counter is look at travel stocks and all these economically-sensitive sectors also down as well. ashley: yup. i think the 30%, i believe in 50 basis points are in denial but that's another story. let's take a look at tesla. >> all over the place. ashley: yeah, elon musk talking about the future of electric cars. what's he saying? >> well of course. now what i found actually interesting is the electric car king says that the world needs more oil & gas right now, but he does say that by 2030, 50%, half of all cars, will be electric, and there could be a new tesla factory announced by year-end. where will it be? indonesia has been raising their hand saying we would love to have one here so come on over,

elon musk. now he was speaking at the norway energy conference and saying that at this point, at this time, we actually need more oil & gas, not less, and he's not demonizing fossil fuels. some of those comments i found really surprising but he says there must be a clear path to a sustainable energy future. also by the way norway has a $1.2 trillion sovereign wealth fund and that money made off the back of oil of course found in the sea. now europe dealing with russia shutdown on those pipelines, nat gas a 14-year highs and tesla is down along with the rest of the big tech and i would say also the electric car trade as well. higher rates means there's less money to go around especially for a lot of these growth companies which are measured and sold on the future earnings that they make. ashley: exactly. i think elon musk playing to his audience in norway. we still need lots of oil & gas, because that's basically their economy. let's check back on -- >> you wonder why speaking at

the norway energy conference which i found interesting. ashley: i know, yeah, that's another story. let's check bitcoin as you can see , down 668 bucks, right at 20,000. it was below 20,000 right at that 20,000 mark now. >> yup, so sub-20,000, i think the lowest that we see for bitcoin since the end of july and that's because risk assets, fast money reseptember rables like bitcoin and cryptocurrencies are being sold off when there's money being taken out of the market so bitcoin at sub-20,000 i think the lowest is mid-july. the lowest we seen this summer was 17, 600 so you've got a bit of a recovery here, but we are down five straight days now, for bitcoin, along with broader stocks of course. that correlation, that tight correlation continues where bitcoin kind of trades like a nasdaq 100 tech stock, which, you know, as we seen it's supposed to be decentralized away from government policy, and mainstream. ashley: apparently not and susan

, meta has settled. i haven't heard this name in a long time, settled the cambridge an a lit it calawsuit. take me through the details. >> i'd say outperformance. up in a down market so quietly settling friday evening, facebook agreeing to settle that lawsuit that a queued it of lou ing third parties to access private data and cambridge analy tica consulting firm that worked on trump's 201y obtaining, exploiting facebook data. no wrongdoing being admitted for meta but they paid fines in the u.s. and the uk having to change its privacy practices and the fact it's up in a down market is a positive on the bottom line. ashley: yeah, get that issue out of the way. let's take a look at apple. well, there's a lot of chatter, for sure, ahead of their event coming up, right? >> yeah, so we have bloomberg reporting that apple has filed trademarks for any vr/ar, that is the direction of the company

according to bloomberg reporting for next year, at least. now, as for this upcoming apple launch event on september 7, i was reading through dan ives notes on the iphone maker and he sounded very bullish. he's saying it's a positive that first of all we're getting this launch event in september. especially with the covid lockdowns, zero-covid policy over in china. 90 million iphone 14 handsets he expects to ship. that's a big deal. that's a big number, especially in this high inflationary slowing economic growth environment. still going from what i see a 220 market cap or 220 price target on apple stock, upcoming so you still could get 60 bucks on the upside. isn't that impressive? ashley: incredible. and when dan ives talks people listen that's for sure. susan thank you very much. let's take a look at the big board. we are down, as you can see 200 points. we haven't added any downward momentum. in fact we're down 250, so hanging around, down just over half a percent on the dow right

now. let's take a look at some of the dow winners i'm not sure how many there are but we'll take a look and see whose on the board this morning. there you go, the energy stocks chevron, salesforce.com also moving higher, barely, intel the chipmaker also just above the watermark. ibm and visa turning negative. the s&p 500 winners more energy companies, exxon-mobile up 1.5%, netflix how about that up in this market, etsy also, the home made crafts online site up this morning, nasdaq and zoom video up 1.5%, netflix as we said up 1.25%, amazon and charter communications also moving higher in what is a down market. all right, coming up, podcaster joe rogan reacting to brian stelter leaving cnn. listen to this. >> they're all on the chopping block, all on the way out which is hilarious. >> look i shouldn't laugh. >> they should be because they

suck at their job. it shows nothing to do with what they did to me. ashley: a-ha. our media guy, joe concha is here to tell us who could be on the chopping block. as more details emerge about hunter biden's laptop more americans are second guessing their vote in 2020 now. a shocking amount of people would have changed their vote. we're going to bring that story to you, and the white house just can't seem to say who will pay for biden's student hando hillary vaughn will break it down and how much it could actually cost, right after this. ♪

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ashley: taking a quick look at the markets for you, after friday's sell-off on jerome

powell's very hawkish comments, the dow off now just under 200 points, the s&p down one-third, the nasdaq down about a tenth. we are slowly coming back a little bit, but still in the red there are still, by the way, agains over how much president biden's student debt handout will really cost the average american. hillary vaughn is following all the action on capitol hill. all right, hillary. how much could this plan cost? do we know? reporter: well, ashley, the white house insists that they don't know what the final cost will be, because they don't know how many people are going to take them up on their offer to pay off their student loan debt, but they did finally give a ballpark estimate friday saying it will cost around 240 billion but that's a lot less than what other analysts predict. the budget model puts the price tag to cancel some student loans at more than half a trillion dollars. they also say that overall changes made to the student loan payment program combined with that means that all of this

could cost up to $1 trillion but the white house insists that no matter how high the price tag this plan is paid for , because of the drop in the national debt under president biden, but fact checkers are calling out the president saying he's pretending to take credit for something he didn't do, saying, "biden again misleadingly took credit for cutting federal deficits by historic amounts even though most of the reduction in deficits has been the result of expiring emergency pandemic spending" but republicans say either way this is government spending which is congress' job, not the presidents. >> when you talk about a price tag, easily half a trillion dollars, some estimates up to a trillion dollars, that is a congressional issue because you either have to borrow those funds or you have to appropriate those funds. congress has not discussed this proposal. congress has not voted on this proposal, congress should actually be going to court on this because it is a violation of separation of powers. reporter: some progressives are

cheering the move and say the next step is making college free. >> we have to be looking at the core problem of higher education becoming unaffordable and i think there are a lot of ways to address that. my proposal with bernie sanders for free community college and free higher education, two and four-year colleges that is a really important proposal. we need to get to be able to do that. reporter: ashley, the president insisting last night in a late night tweet this isn't going to add to inflation because they're restarting payments at the same time they're paying off about 20 million americans student loan debt. ashley? ashley: all right, i guess we'll take his word for it, although we probably won't. hillary thank you very much. good person to talk about this is stephen moore the economist. stephen, okay, the white house is refusing to answer who will pay for this handout so i ask you, who do you think gets saddled with the bill? >> well, the real question,

ashley, is how big will the bill be and as you guys were just talking about, we just don't know what the numbers are. it could be anywhere from a quarter trillion to a trillion dollars, but i guarantee you this , that if you put in place this crazy plan, and i've got to tell you i have a syndicated radio show i do on wabc, and we talk for two hours on this with listeners and people were overwhelmingly against it and people are really angry about this , ashley because people think it's incredibly unfair, but you're talking about something that if this is put in place, it's going to make college even more expensive and what incentive will the colleges have to hold down their tuition costs? so i think you're looking at maybe 500 billion. what other thing that i think is really important, ashley, and i made this point last week but i want to make it again. how many people going forward are going to repay their debt, right? they aren't even taking that into account. you could have a trillion dollars of debt unpaid every

year. ashley: yeah, you could. very quickly, i want to get your comments on the fed, the hawkish ness of jerome powell and what does this do to the economy. how fearful are you of a somewhat meaningful deep recession? >> well, i've been saying on this show every week for what a year now that the fed has been way behind the curve. remember it was just about a year ago, ashley, that jerome powell said that inflation was transitory, so yeah, you've got to do this. i like to use the analogy of, ashley, of kind of you got a cancer cell and you may need to have chemotherapy, now you're not going to like the chemotherapy but you better get rid of the cancer. inflation is a cancer on our economy. the fed has to do everything it can to get inflation down so i like what jerome powell is saying now. i just think he's way late to the game. ashley: yeah, you're not the only person, that is for sure. we'll have to leave it right there, but terrific stuff.

thank you very much, stephen. thanks for your time this morning. >> take care. ashley: thank you, you too. former nba coach stan van gunby compared the debt handout plan to a biblical miracle. all right, you'll have to take me through this one. lauren: and he insulted a lot of people in the process so he shared this , right here, this biblical meme on twitter, and he says jesus' miracle, the loaves and fishes, where jesus fed that crowd of 5,000 by multiplying the bread and the fish, as a slap in the face to all of the people who brought their own lunch, and he headlined the post "republican logic." so this was his attempt to mock how republicans criticize the handout which is what it is. i don't know about the biblical verse but it is free lunch, well there's paid. ashley: i guess they say there's no such thing but i think it is. lauren: there is right now.

ashley: all those people who work two, three jobs. i'm not impressed with that analogy at all. lauren thank you very much. new york city school staffers must get the covid vaccine or face termination. do we really still need these vaccine mandates? dr. marc siegel will be here to respond. rapid inflation is eating into american's budgets, we know that a major retailers are seeing sales slowdown and inventory pileup, so, where are shoppers headed to protect their savings? well there's a clue on the screen. we'll have the report, next. ♪ ♪

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week from both dollar tree and dollar general. they saw strong profits during their earnings report. the stores not only seeing those loyal customers driving sales, but growth has really been driven by new customers coming in searching for those deals, and those new customers, they're higher income in the past year the majority of new shoppers make $80,000 a year , minimum. that is great news for stores that are dollar stores but tough waters to navigate for others. >> looking for deals, looking for discounts and changing the stores that they actually shop in, which is really disruptive for retailers at the moment when their customers are starting to move around and maybe look to brands they haven't shopped from before to find those deals and discounts. reporter: with those customers turning to dollar tree, they saw their profits shoot up 27% in the last quarter. the ceo also noting a shift from cash-to-credit. that's another sign the pressure

s consumers are facing are growing. families are trying to make ends meet with increased cost of housing, fuel, and food, so they are turning to stores like the dollar tree to make that happen and when you look at the soaring profit and revenue, it really shows many families are doing just that. ashley? ashley: all right, madison, thank you very much at a dollar tree in new jersey. madison alworth thank you. let's take a look at the markets if we can we're just under half an hour into the session on this monday, and yes, we are down again, 200 points on the dow, been in the same range since the opening down just a little more than half percent. the s&p off 20 points at 4,038 and the nasdaq also down half percent let's not forget the nasdaq lost the show, kt mcfarland, senator marsha blackburn, rachel campos-duffy, and chris ruffo. great lineup, the 10 a.m. hour of "varney" & company is next.

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♪. ashley: why. it's monday morning. time for a little bit of uptown funk to get you up and going. good mornings as we look at picture of manhattan, empire state building on a hazy monday morning. it is 10:00 eastern. i'm ashley webster in today for stuart varney. good morning to you. let's get straight to your money. friday the dow lost 1000 points. down again today. s&p down half a percent. the nasdaq also down right around half a percent. look at the 10-year treasury yields. we've seen the yields go up, not good for the big tech names. the growth stocks. up 3.1%. up another 6 1/2 basis points on

the treasury yield. look at price of oil if we can. it is $2.43 at 95.$40 a barrel. bitcoin is flirting with the 20,000-dollar line now. bitcoin down 566 bucks at 20,090. let's look at the markets as we bring dennis gartman in here. good morning to you. we know you're a bear. so i guess in your opinion how long do you expect this downside to last, certainly based on what mr. powell said last week? >> depending on what, predicated on what mr. powell had to say on friday and given the history of the fed over the course of the last 50 years since i've been in the market, once the fed changes monetary policy, it tends to keep going in the same direction not months, not weeks, for several years. i think we have tighter monetary

policy for a protracted period of time. bear market lasts 20723, mid-year, maybe last next year. i think this has distance on the downside in time and duration out there. be careful out there. ials said a bear market he or she is loser of the least, as university of akron endowment i got us to move goodly portion of portfolio, 12% portfolio out of december 31st last year. i would have liked to lose more. we're losing less than other endowments are losing. that will be benefit to us. this is a bear market. it will be protracted and last for some period of time. fed continues to tighten monetary policy running off the balance sheet mid-year next year or into 2024. this will last for some while. ashley: in this pretty bleak environment then, dennis, is there anything, equitywise that could potentially make some gains in all of this? is there any areas that you might be interested in?

>> i like to say when they raid the house of ill repute even the piano player goes to jail. problem almost everything goes down in a geir bear market. high dividend-paying stocks they shall go down more than the dividend, but at leave get the dividend to mitigate some of the loss. there is very little place to go. i do like gold i think at this point. the fed will continue to it tighten monetary policy but at the same time i think gold will do well. in my own account i'm short the stock market, long on gold, i'm comfortable. down a quarter of 1% for the year. i'm happy with that right now. ashley: yeah, no doubt. dennis you put it all on the line. i don't know if i'm very, well optimistic after all of that i hear where you're coming from. dennis gartman thank you for telling it as it is this morning. lauren, come on in. you're looking, look at some of the movers, dennis is waving,

start with apache. lauren: number one on the s&p 500 followed by marathon and occidental and exxon and diamondback. here is the reason, oil prices are higher on two reasons. the prospect of opec plus cutting supply when they meet again september 5th. conflict in lib you i -- libya, that sparks up ply concerns. look at netflix i thought they would be down because the two-year-year-old is rising but they're up 2%. bloomberg add supported plan will be cheaper will cost betweenand $9 a month. seven is not bad. finally big gains for pinduo, chinese commerce site. big quarterly numbers. they doled out discounts to get chinese to buy. that hurts margins. investors respond to the popularity and push overseas. they're looking to expand internationally starting with

the u.s. in coming months. so we'll see. pinduoduo. ashley: thank you, lauren. the fbi is in some hot water after mark zuckerberg revealed facebook limited posts about hunter biden because of warnings from the very agency. is the fbi responding at all? lauren: they're saying nothing to see here. they share general warnings about foreign interference in the 2020 election. nothing specific about hunter biden. still facebook got that message, got the warning and they limited the view, the reach of the laptop story because of it. and that suppressed the story's reach about hunter biden's business dealings with china, with ukraine, just ahead of the election. so now there are calls for mark zuckerberg to testify under oath, who did you talk to, what did they tell you? here is the statement that fox business got from the fbi. the fbi said it has provided companies with foreign threat indicators to help them protect their platforms and customers

from abuse by foreign malign influence actors that is the statement, ashley. ashley: uh-huh. all right. lauren, thank you very much. the governor of maryland, larry hogan, is warning that if republicans nominate the wrong people a potential red wave could become a red ripple. watch this. >> this should be a really huge-year for republicans just because of the failures of the democrats and who are in control of everything and biden's low approval ratings but we could blow it by nominating unelectable people. that is exactly what is happening across the country. why the wave will be more of a ripple rather than a tidal wave. ashley: so why are they unelectable? is it because donald trump likes them? charlie hurt is here. charlie, what do you make of the governor's warning? >> well you got to hand it to larry hogan. he is definitely, he knows something about being unelectable. sure he can get elected in a

place like marylander as republican but he will not go anywhere past maryland because in maryland of course to get elected as a republican basically be a democrat pretending to be a republican. i really do think a lot of these warnings, unfortunately we sort of heard a little bit of the same thing from senate minority leader mitch mcconnell. you you know at the end of the day if, if these candidates talk about the issues and talk about the issues that donald trump brought to the forefront then these candidates, these republican candidates are going to win and win big. the problem is, and this is why i think you see so much of this consternation about all these, what we've it is we're talking about, whether mar-a-lago or whatever, if anything that gets republicans away from talking about the issues it hurts and undermines republicans and democrats are desperate to talk about anything but the issues

because because they don't have any good ideas left on the issues. ashley: i want to get to this one, charlie. you have a new op-ed biden wages war on the innocent hard-working taxpayer. joe biden is robbing the poor, giving to the rich, make the case? >> it is the reverse robe bin hood. a billion dollar transfer from working americans to wealthier americans. this is exactly what you get when you have the federal government picking and choosing winners and losers, working class americans, working americans, foot the bill and it rewards people for taking out huge debts to go to college, to get degrees that don't get them anywhere in life and i, you know, i think that this is one of those issues that republicans are very, very smart to run on because you know, as, you know

donald trump did more than any republican to change the face of the republican party towards a more working, taxpayer party as opposed to a party of wealthy elites. ashley: exactly right. charlie hurt, thank you as always. thank you for joining us on this lovely monday. great to see you too. thank you very much. come back in lauren, if you can, former advisor to president clinton slamming the student debt handout plan. what is this person saying? >> we've seen a lot of democrats come out against this plan. paul begala, he called it terrible policy. then he offered some better ways to spend $500 billion. >> well it is bad policy as well as bad politics. for that amount of money you could fund free pre-k every 3, 4-year-old for 10 years. do a lot more for communities of color, underprivileged by free

prehk forgive all medical debt. >> those are pretty good ideas, ashley. ohio senate democrat candidate tim ryan, said you might as well do a tax cut. the thing with tim ryan, he is currently serves in the house, one of eight vulnerable democrat s who don't support forgiving student debt. everyone from larry summers, paul begala, tim ryan, saying no, good idea. ashley: i like the medical debt forgiveness. so many people bogged down with that for sure. lauren: a lot of good points. ashley: lauren, thank you very much, yes indeed a court date is set to review the documents of the raid on mar-a-lago. federal judge expects to hand donald trump's legal team a win in the investigation. that story coming up. former secretary of state mike pompeo america will face likely 9/11 attack after biden's botched withdrawal from

afghanistan. kt mcfarland is on the show. she will take that on. ukraine is on edge after a nuclear power plant comes under intense fire. experts are on the way to assess the radiation risks, oh my. alex hogan with the latest report from kyiv next. ♪.

♪. ashley: all right. let's take a look at these markets as we're about 45 minutes into the session pretty much where we began. nasdaq down half a percent. now this, russia launched artillery strikes near the largest nuclear plant in

ukraine. alex hogan is in the capital of ukraine this morning. alex., what is the latest? reporter: top experts are on the way to this nuclear power plant. the kremlin says this trip is necessary but urged the creation of a demilitarized zone around the plant simply will not map. for months members of the international atomic energy agency have tried to get into this facility which is currently under russian occupation. just last week the site was temporarily kicked off the power grid over fighting. international experts are warning of the constant threat given these attacks near the facility. shelling last night targeted two neighborhoods, wounding at least 10 people near europe's largest nuclear power plant. >> we expect from the mission a clear statement of facts of violation of all, of nuclear

safety protocols. we know that russia is putting, not only ukraine but also the entire world at threat, at risk of nuclear accident. reporter: russia peace defense ministry today claims to have taken a settlement near the southern town of nokoliv, in the even region of the country in donetsk, eight civilians killed, seven others wounded in the last day. heavy bombardments in the east of sloviansk is urging everyone to evacuate. russian shelling hitting the western part of the country late last night. today new shelling taking place across from the power plant. one person is dead, five people are wounded. over the weekend, residence that live in zaporizhzhia to collect

iodine pills. iaea says the radiation levels seem to be normal there is continued concern and threat, and why experts are on the way to get there today. ashley? ashley: thanks for the latest there, good time to bring in kt mcfarland. good morning to you. it's a silly question, how silly is the conflict around the nuclear power plant? last thing you want are explosives. what are your thoughts? >> the problem is we don't know what happens if a nuclear power plant has a direct hit. i taught nuclear weapons at mit in the 1980s. we never anticipated even thought something like this would happen. if you look at the last decade, right? there was a tidal wave over japan and the fukushima reactor was down, it spread radiation. in 1980s, at cher noble, russia, a accident at nuclear power plant that devastated the entire

region for decades. you can't go back to part of russia, not feel radiation issues. we don't know. inspectors can't get in there. the worst of all situations. the russians control the nuclear power plant. the ukrainians are technicians are working on it. nobody can get in to see what is happening. meanwhile live ammunition is going off all around it. it is potentially devastating situation not just for ukraine but radioactive cloud could go over the entire region. ashley: exactly. i want to change subjects. reports, kt, say iran and russia are accelerating efforts to finalize trade and military deals. iran buying russian grain and russia receiving iran can drones. how concerning is this to you? >> i've always been concerned about another relationship that's developing right now which is the chinese and the russians where there are no bars, no limits to the friendship. so they're talking about and

they started having security relationships and trade and economic relationships but now if you throw iran into that, that unholy threesome, that presents i think a really, probably the most major strategic threat to the united states in our history because, iran and russia, that is a lot of the world's oil and natural gas. with russia, it is a lot of the world's foodstuffs. china, the china on the march, right, with technology and with its economic situation and they're trying china to trying to link all the countries together in the new belt and road initiative to create a eurasian land mass as a trading bloc and a potential trading maritime bloc. we don't have anything to compete with this. the biden administration is finally woken up to the fact, oh, this might be a big problem but they're not doing anything about it. ashley: talking of threats, turn our attention to afghanistan. former secretary of state has a

dire security warning since the taliban is in power. listen to this. i will get your comments. >> the taliban is in full control of the country but we are more likely to be attacked like new york city was 20 some years ago. we're more likely to be attacked from that place today than we were just one year ago. ashley: there you have it. mike pompeo, what do you say, kt? >> well, you know the sham billionic withdrawal from afghanistan did couple things. taliban gave one of the most state of the art militaries in the world. empowered the taliban to do more or less whatever they want in the region but potentially outside of the region into the united states. i think bigger fallout from that, it will mark, we'll look back at that shamboli withdrawal of inflection point of american power. people may not have liked us around the world, or they may have liked us around the world one thing nobody doubted was

american competence. afghanistan showed we were incompetent within the withdrawal. we were fools for 20 years to fight forever wars we couldn't win and we were really stupid to leave all the military equipment around for the taliban to get their hands on and heartless for leaving those americans behind. ashley: absolutely. this is kind of this hand as-off foreign policy. it is very reek action arias opposed to be -- reactionary as opposed to being proactive, right? >> that's for sure. the other thing about the biden administration, the other democrats, they never think this through, they never think through the consequences of their actions. for example on day one of the biden administration, shuts down, tries to shut down declare war on american fossil fuels. not thinking that will cause inflation, cause worldwide shortages, that will cause russia to get rich again, enable russia to attack ukraine, it will make iran rich again, enable iran to build up its

nuclear program. all because of one anticipated series of events from one mistake in in the first place. ashley: on that happy note we'll have to leave it there but always insight phut. kt mcfarland, thanks for this morning. >> thank you. ashley: now this story, thank you, the israeli prime minister is pushing for a conversation with president biden to discuss iran. lauren, he hasn't been able to get in contact, is that right? lauren: so strange, ashley. the israeli prime minister reportedly unable to get president biden on the phone when he was on vacation earlier this month. there are reports that lapid asked for a face-to-face meeting next month in new york for the u.n. general assembly. iran is obviously opposed to iran nuclear deal as iran p5-plus-one is nations go act and forth to in this attempt to

finalize the terms. he is against it. he wants to talk to president biden about it. ashley: yeah. if only they pick up the phone. lauren, thank you very much. florida's governor desantis railing against some democrat governors for their treatment of republicans. listen to the florida governor. >> i do think people like hochul and crist are representative of this leftist mindset they do believe that conservative half the country are effectively second class citizens. ashley: rachel campos duffy deals with that in our next hour. meantime a u.s. coast guard ship was denied entry to the solomon islands. tennessee senator marsha blackburn will be here to take on the growing tensions with china. that's next. ♪ research shows that people remember ads with young people having a good time. so to help you remember that liberty mutual customizes your home insurance,

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♪. ashley: all right. let's take a look at these markets. we've been in in the same range that we opened almost an hour ago, the dow off, trying to come back a little bit. down 167 points. s&p down a third. nasdaq down a third. all right, come in, lauren. lauren: yep. ashley: you're looking at some other movers this morning. start with marathon digital. lauren: the stock is now, it is a crypto-related stock. it is up 7%.

it had been down basically i think 7% at one point. the cryptocurrencies are coming back. over the weekend bitcoin fell below 20,000. so you saw all these losses. there seems to be a change of sentiment in many crypto related stocks are now higher. look at lululemon. jefferies downgrades them to sell. they say the company will have to pull back their long-term guidance. lululemon reports on thursday. they're expected to be somewhat bullish about near term guidance but jeffries is saying look a few quarters out. it does not look good for their international segments and their men's department. they're not liking lululemon. octa was down more than 1%. their price target cut to 110. still higher than where it is here at bmo capital. they see a lot of competition in this space especially from microsoft. they keep their overweight rating but they are cutting the price target. ashley? ashley: all right. thank you very much.

okta down 1 1/2%. now this story, a u.s. coast guard cutter conducting patrols in the pacific ocean was denied entry into a port in the solomon islands. that is now raising concerns about china's growing influence in the area. let's bring in senator marsha blackburn, republican from tennessee. great to see you this morning, senator. how big of a concern is this? >> this is always a concern. when you see the way the chinese communist party is doing into the solomon islands, you know, ashley, one of the things i found out from being there on the ground, visiting with the prime minister is while the leadership in the solomon islands is willing to go along with the chinese communist party and some of their belt and road initiative or debt diplomacy, the people of the solomons are not. they are very religious.

they are very freedom-oriented. they're is an active opposition to what the prime minister and the leaders are doing and the preferred partner by the people of the solomon islands is the united states. not the chinese communist party who brings them inferior products, or, does inferior construction. doing it with chinese labor, not working with the people of the solomons to build the items that they are building there on the island. ashley: you know, senator, you know, you just returned from a trip to taiwan. you called the island an independent nation. was part of your trip designed to make a statement? >> oh, what we are doing is working toward protecting the pacific island nations toe taiwan included from the chinese

communist party's aggression. you know their intent on being globally dominant by the time we get to the midpoint of the century. they have been very aggressive in how they have chosen to move forward in the last 18 months. that is of concern to us but what we, when we look at taiwan, we have to realize that this is a nation that had declared their independence. they have a founder of the country. they have a constitution, a president, a cabinet, a military. they value their independence. they share our goals of democracy and freedom and diplomacy and, they seek to have more ties with the united states and western nations and that's a good thing. we need them as our ally and they are a strong ally indeed. ashley: want to come back to this country. senator bernie sanders claims

that democrats have a reasonable chance, he says, to retain control of the senate. listen to this. >> i think there is a reasonable chance that democrats will retain control over the senate. i certainly hope we get more than 50 in the senate, that we get at least 52 so we can start going forward to protecting working people in a way we have not been able to do up to now. ashley: senator, what do you say? there are these people, now, i say, people, pundits saying it will go from a red wave which was predicted in the midterms to a red ripple, what are your thoughts? >> you know, pundits always have their opinion and i find it very interesting each election cycle but when i'm across here in tennessee talk talking or talking to people from other states. inflation is a top issue. the open border is a top

concern, crime in the streets. ashley, those are all issues brought to you by the democrat party. and people know that. and looking at the polling this weekend with the democrats claiming that they are pushing forward, that polling did not reflect that. it shows republican candidates for the senate seats still holding their lead in these competitive states. ashley: well, we'll leave it right but great to see you, senator marsha blackburn. >> good to see you. ashley: thank you for chatting with us. good to see you. all right, by the way the u.s. navy just sailed two warships through the taiwan strait for the first time since speaker pelosi's visit to the island. come on in, lauren. give us details. lauren: the uss chancellorsville, antietem, guided missile cruisers, sailed in between international water es and chinese taiwan.

they called it routine transmission. taking 8 and 12 hours obviously watched by china's military. this was an important demonstration by the white house it is not ceding the taiwan strait to china despite provocation and war games they are playing and increased knave strength, while it was routine but anything you about, ashley? ashley: message sent. thank you very much. despite having a republican governor, virginia might have to adopt california's ban on gas-powered car sales. we'll tell you how virginia's governor is fighting back. back to school, back to mandates. some districts are implementing more covid rules as children return to the classroom but are they necessary? i will ask dr. marc siegel and he is next on the show. don't go away. ♪

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♪. ashley: more than 1000 school staffers in new york city have been on unpaid leave since last year and now they are facing a new deadline to get the jab. come in, lauren, give me the details. lauren: it is 1300 new york city employees. they have to show proof they got at least one shot by september 5th. then they can return to their old school but not necessarily their old job. so this group has been unpaid since last october but they were able to keep their health insurance. there were about 1000 other teachers and staff already terminated completely. they're not waiting for any hearings or anything like that. the issue now, it has been so long, you're looking at the shortage of teachers nationwide but here in new york state

180,000 new teachers are needed in the next decade. so we're talking about 1300. they're in limbo right now because many still are not vaccinated. we need all of these teachers in the next decade to fill our schools and teach our children. ashley: we certainly do. lauren, thank you very much. as children head back to the classroom some districts are implementing even more covid rules. jeff flock is in philadelphia this morning. jeff, what's the latest there? reporter: well, we thought we were past it, ashley, but this is the first day of school here in philadelphia. this is the dunbar school, that is the elementary school, near the temple campus if you know philadelphia. take a look at pictures headed back into the classroom today, greeted by the mayor and superintendent of schools, welcoming them back, but you might notice they're wearing masks. that is because masks are required in philadelphia for at least the first two weeks of school and philadelphia is not alone.

take a look at this map which shows all of the districts, or ones we've targeted anyway, that are now requiring masks again. sacramento, san diego, louisville, newark, new jersey, prince georges county in maryland, all requiring masks. and parents in those districts are pushing back. they don't like the idea. a lot of them, i talked though to the philadelphia medical, director of medical director for the philadelphia public schools this morning. she told meth just trying to keep the kids safe and in school. both side for you. listen. >> longer we drag this out the worse it is going to make it for our children. between mental health issues, my 8-year-old now has anxiety. she has never had anxiety before. not having the socialization that they should be having is a detriment to them. reporter: ashley, i leave with you a map of where the states stand right now in terms of mask

mandates. four states in the u.s., utah, georgia, virginia, florida, have outlawed mask mandates. another handful of states are fighting it in court right now but the vast majority of kids are going back this fall without a mandate to wear a mask. ashley. ashley: jeff flock, great stuff as always. good time to bring in dr. marc siegel. he joins me now. look she we still have vaccine and mask mandates for kids in school? >> absolutely not, ashley. we should not have mandates for vaccines. d.c. has the mandate they're trying to put in for over 12 years old. you just heard from jeff about philadelphia and, no. there should be no mandates for either and i'll tell you why. first of all, this discussion is not about whether masks work or not, is it? it is not about what kind of mask? it is not about who is wearing it and whether they're wearing

it properly. it is about mandating it. i have one for you you can't go to school with cough or disease or fever, we don't have that, right? we don't have anti-cough mandates. same thing with the vaccine. we have lost a lot of oomph in the vaccine by compliance forcing people to take it. no time for mandates because the whole public knows vaccine decreases severity, not spread. it may have little effect decreasing spread. how about having covid? that might have decrease risk of spread but overall you get it anyway. how can they mandate vaccines at this point when they don't prevent spread? want to prevent severity, keep yourself out of hospital? that is individual choice. that is so clear at this point and so disturbing. ashley: it is indeed, by the way, doc, the fda is set to roll out new omicron booster shots this week. is this right they have not completed the human testing yet?

>> let me go over this with you for a minute. i actually don't think safety is going to be an issue here. the prior iterations of the vaccine is safe. theys tested the ba.1 in june, it is safe. it is disturbing the clinical trials are crawling along. dr. paul ofett from penn says there is no data going to ba 4, ba.5 vaccine even works in humans. only in mice. i think, my view is okay i'm okay with it, but only should use it for the following groups, those at high-risk of hospitalization and those who have said to me in my office for months now i only had two shots. i don't want that third shot. i may be able to use this to convince them to get the third shot but using this as a fifth shot without any data, without the clinical trial data is not what we should be doing. i also think that it should have

gone before the fda advisory committee. too many steps are missed here. too much based on mice, ashley. ashley: very quickly, i've had three shots, doc. i had the first two i think a lot of people did. then i got a booster. am i food to go or should i think about getting a fourth which some people i know already have? >> i think you should think about it. i don't know your exact medical history. depend on how, what other underlying medical problems you have. you should think about it because we're going to continue to need thesow. i will tell you whether i think it is needed but in terms of the new booster coming out i want more information first. then i will start to use it for those at high-risk. you look like you're probably low risk to me. you look very healthy there. ashley: i feel good but i don't want to jinx it, doc, but you're right, i have a doctor, i need to give him a call hey, do i need this or not.

thank you for your advice. great stuff. >> i like it. i like that it coming out. thanks, ashley. ashley: thank you very much, dr. marc siegel. always great. the u.s. open by the way kicks off in new york today good ol' tennis but will it go ahead without 21-time major champion novak djokovic? we'll bring you live from the tournament. joe rogan says more anchors on cnn could be on the chopping block after brian stelter's exit. roll in. >> they're all on the copping block, all on the way out. this is hilarious. it should be because they suck at their job. nothing with what they did to me. ashley: now we know how he feels. our media guy, joe concha is here. he will tell us who could be on the way out next. ♪

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cnn is a sign other network anchors are all on the chopping block. >> they're all on the chopping block, don lemon, jim acosta, they're all on the way out which is hilarious. >> i shouldn't laugh. >> they should be. because they suck at their job. nothing to do with what they did to me. ashley: well, okay. good person to have on this topic, joe concha. what do you think of that? joe rogan always pushes the it a little bit but is there truth to that. >> there are reports that other people will be fired at cnn the new president at cnn said such, there will be further changes. we don't know exactly where the axe will fall. but in the end i wonder, once we go into the presidential campaign season that is basically january 2023, if donald trump runs or ron desantis is the nominee i can't see cnn suddenly reverting back to the station we grew up in the

'90s, days of bernard shaw being objective good journalism. they will go back to the partisan opinions they gave. brian stelter bottom fired for openingly criticizing, discovery's largest shareholder, john malone. all he said i would like to sigh cnn away from opinion to back to journalism. brian stelter bashed him on air, in reporters and his newsletter. you will get fired if you try to destroy a network from in. we will see more changes no question about it, but the question is who. ashley: what did he expect to happen any way? let's move on. tennis star novak djokovic will not attend the u.s. open this week, joe. non citizens cannot enter the u.s. unless think got the jab. you have a new op-ed, it is

called the tragedy of novak djokovic right? >> it is. here you have the number one tennis player in the world by far for weeks upon weeks he has been number one, something like 363 weeks consecutively, all-time record. now tennis fans won't be able to watch this great athlete in new york for the u.s. open. i just have questions, ashley. i would love to talk to marc siegel about this off the air when i get off. why was he allowed to play last year when he was unvaccinated? that is interesting, right? why is natural immunity be ignored since djokovic had covid twice. why are 23,000 spectators allowed in the arthur ash stadium without vaccine cards but novak can't come up. will vaccination stop transmission? no, because cdc confirmed such. millions are crossing u.s. southern border, most likely unvaccinated. they don't have access to vaccines. these are all questions i have. i have a feeling no one can give me a good answer, ashley.

ashley: i don't think they can. you make a very good point. so disappointing we'll not see him at the u.s. open. joe concha, great stuff, fired up on this monday morning. thank you very much, joe. the liv golf league is joining the antitrust lawsuit against the pga, come on in lauren. >> these are the latest, carlos ortiz, jason kokrak, abrahamanceer. liv golf joined the lawsuit that alleging the that the pga tour uses mo knowly power to squash competition and suspend players from playing. pga restraints forcing us to sign players at the huge costs just to make it worth the risk for them what the pga tour will do to them. they have to make it worthwhile for them to switch over. ashley: battle goes on.

all right, lauren, thank you very much. still ahead, rachel campos duffy, steve forbes, chris rufo. the 11:00 a.m. hour of "varney & company" is coming up next. ♪ this... is the planning effect. this is how it feels to have a dedicated fidelity advisor looking at your full financial picture. this is what it's like to have a comprehensive wealth plan with tax-smart investing strategies designed to help you keep more of what you earn. and set aside more for things like healthcare, or whatever comes down the road. this is "the planning effect" from fidelity. hi, my name is cherrie. i'm 76 and i live on the oregon coast.

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>> jerome powell shored the market and showed his true inner dove and said inflation was transitory and this time he looked nothing like a dove. >> this is biden deplorable moment. >> this is the problem with the democrats, they attack the american people. they attack great patriots that simply love america. >> what they've done is unconstitutional and unfair.fai. the americans instinctively get fareness and this is unfair. >> investors are scared stiff and they'll prompt unusual behavior for more volatility in the fall. >> almost everything will go down to a bear market. the only interest is in high dividend paying stocks and i'm shore of the stock market and long on the roll.

ashley: good morning, everybody. a little hooty and the blow fish. it is 11:00 a.m. on the east coast. good morning to you on this monday, august the 29th. i'm ashley webster in for stuart varney. we're picking up where we left off on friday. dow u off 1,000 points on friday down 270 points thereabout and s&p down nearly 1% and the nasdaq down 142 fluent points more than 1%. take a look at big tech and how the big growth companies are doing all in the red. alphabet, amazon down 1%, microsoft down one and a third and apple down 2%. the treasuring reigns leading yield as this goes up, equities and especially the tech stocks, big tech stocks go down. treasury, 10 year treasury yield up to 3.11% and up 7.3 basis

points. with that said, let's bring in jason katz who by the way i believe was named top ten adviser on forbes list so we're very lucky to have you here, jason, sharing your wisdom with us. thank you and i'll get to the fed first who says it'll be aggressive, take no prisoners. so when do they finally slow down? i guess a better question is can they provide a soft landing given the hawkishness of mr. powell? >> first of all, thank you, ash. second of all, it was a take no prisoners speech, let's make no bones about it. we have a bond market that got the memo but a stock market that apparently didn't. what was absent from this speech that no one's really discussing was any discussion of a soft landing. what was a surprise to most investors really was the fact that the longer -- the hire for

longer mantra is going on. the runway for a soft landing clearly is shorter now and the fleet of rate hikes and quantitative tightening have gotten longer. this will be a difficult needle to thread. ashley: it really is. with that in mind is someone who advises on stocks and tries to navigate this. what are you telling investors, what are you looking at in this very, very uncertain landscape? >> i know i've painted a draconian picture and the hits keep rolling monday after friday's losses but, look, not all recessions are created equal. if we're going to have a recession, it's going to be fed induced and not going to be a function of an economy that's in pretty good shape right now in terms of bank balance sheets, corporate balance sheets, unemployment as low as it is. so i think the silver lining in

the gray cloud is we are at peak hawkishness. we are at peak inflation. look at some inflation readings, they're coming down. the u michigan sentiment survey shows consumers expecting inflation to moderate. inflation break even rates on treasury inflation protection securities have moderated. input costs, whether it be corn, wheat, lumbar or used car prices are coming down. my point is i think we're at peak negativity and as a result, yes, we're going to have more volatility and, yes, we're probably going a bit lower but not probably going to retest the new lows in our humble opinion. i think once we get towards the midterm elections, we should see a surge from there between now and then, expect volatility and some consolidation thereafter. ashley: well, i think critically too in the second half of this year, what the corporate earnings tell us and in

particular their guidance going into next year will be absolutely critical; right? >> i'd expect the kitchen sink to be thrown out. they've been given license in light of what's happened with inflation to do so but, look, last quarter was sneaky good. we had 75% of the companies actually beat expectations so i'm not expecting gang buster earnings but i think they'll be meaningfully better or less bad as people are fearing and brace for all volatility and all's not lost here. there's a lot of opportunity with dislocation between now and the midterms. ashley: very quickly, of the things you might be tempted to dip into, those companies that boost agriculture yields because as you point out, food insecurity is a big issue around the world. >> that's right. not only should we not be beholden to our enemies for

energy but can't be beholdenned as far as our food insecurity is concerned and getting clean water to polluted areas and creating vertical farms to have food feed a population that was, you know, sorely underserved prior to the war in ukraine. yes, companies that boost the agricultural yield, food and ag stocks stocks theematically look attractive here. ashley: jason katz, great stuff as always, jason, thank you very much for joining us on this monday morning with the markets moving low. thank you. now this, the governor of florida, ron desantis, slamming some democrat governors for treating republicans like second-class citizens. roll the tape. >> we've got so much support in florida and it's not because people have hated in their heart. they're thankful we saved their jobs. mothers are thankful we kept their kids in school and senior

citizens thankful we provided medication for them. i think he put his foot in the mouth but i think people like hochul and chris are crepttive representative of this leftist mindset that they do believe the second half of the country are second class citizens. ashley: rachel campos-duffy here now. rachel, great to see you. the president using this term semi-fascist, which i don't understand. it's like being a little bit pregnant, either you are or you're not. what can you make of all this rhetoric? >> yeah, i think the insults and the rhetoric have a purpose. as you said, they've been calling us conservatives racists, extremists, insurrectionists and radicals. parent who is disagree with them, domestic terrorists. there's a purpose and ron desantis sort of hit on it. this second class citizen thing is about justice. so there are two tiers of

justice, you know, in our justice system and if you can demonize and vilify and otherrize conservatives, you can justify and de-humanize them and justify doing virtually anything to them. it's happening. we see it. the raid on donald trump's home is an example of something that we've never seen done to anybody except to someone like donald trump who represents this america first movement and, you know, people are not dumb. conservatives are not dumb. they notice very keenly the difference in the way protesters, the blm and antifa protesters were treated for the george floyd riots and those who protested the election results were treated, and many of them winded up in jail and many are being pursued by the fbi. there is a two-tiered system and i'll say this too, ashley, when i've spoken to people from venezuela and i've asked them, when did you know the socialist revolution was complete there?

they said when the system of justice was corrupted and they were able to do whatever they wanted with the opposition using the justice system and weaponnizing it. it's very scary times we're living in. ashley: yes, indeed. i want to get to this issue, i know you have personal stake in this, student loans, you've got nine kids, some of whom are in college, what do you think of the handouts? >> well, no one paid for my college. i had to take out loans to help pay for some of them, i supplemented others with scholarships and it took sean and i many, many decades to pay off our student loans. he had student loans as well. our kids have skin in the game. those who went to college took out loans, and it's interesting, one of them is married. her husband, she just is married a couple months, her husband worked in construction to pay off his loans. she still has hers and i presume she'll get $10,000 off. i think there's a lot of people like my new son-in-law were

pretty mad they worked construction and tried to dot right thing and, you know, somebody else gets $10,000. i think people are insulted, it's a payoff to the universities indocketed reigns leading nating for the -- indock reigns leading nating for the democrats and turned outing little democrats and it's an insult to the working class and they should not be -- welders and waitresses should not be paying for the college education of people that took out loans. i think it's really shameful. ashley: amen. couldn't agree more. we'll have to leave it there, rachel. thanks so much for joining us today. do appreciate it. >> thank you, ashley. of course. ashley: come n lauren, you're watching bed, bath and beyond. lauren: it's-up and game stop and amc. the original memes take a look here. amc just turned but bet bath is up 4%. bloomburg conducted this survey and found, yeah, the meme stock craze, it is likely to stick around even though when they looked at this basket of 37 of the retail favorites, it's down just about 40% in the past year,

but the memes brought in this new generation of investors and they're not going anywhere, ashley. to get a little bit more big picture now, technology is the worst performing sector today so here you have apple, amazon, google, microsoft, apple down 2%. they're all down. the two-year treasury yield and short end of the curve has exploded hitting highest level in 15 years after we heard from jay powell on friday. continues to rise today. the market is now pricing in around a 70% chance that the fed hikes by 75 basis points when they meet in late september. so those chances have gone up, tech is getting creamed today. finally 3m down 9.5% friday, down 2.3% today on legal risks, and they really don't show any signs of easing up. a judge on friday denied 3m's attempt to move liability associated with an ear plug case they sold to the military and they were faulty. into bankruptcy court, they

wanted to shield themselves. judge said no so they have 300,000 cases just with that particular issue alone and the legal fees are piling up. ashley: always the l legal fees. lauren, thank you very much. most americans say if the media had been truthful about hunter biden's lap t laptop before the0 election, the results would have been different. a lot of stuff that was free is now costing you money. a list of the most outrageous fees companies are charging you. a federal judge may have just given donald trump a legal win in the mar-a-lago investigation. we'll have that report next. ♪

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ashley: isn't that a beautiful picture. kellogg, idaho, up in the panhandle. going to be 85 degrees later today and crystal clear skies. now this, a federal judge says she intends on approving a request from trump's legal team for a general master. it was a review of the documents seized from trump's mar-a-lago home and we have david from the justice department this morning. what's the latest? >> hi, ashley. the search of the former president's home happened three weeks ago today so the department of justice has had a long time to look through some of the circumstantial evidence

before we came on the air, we got a new filing from the justice department that claims it identified a limited number of materials taken from mar-a-lago that contained attorney client privilege. this as you mention the trump team is celebrating this preliminary release from judge iowa hcannon saying a third pary limited arbiter maybe necessary to handle it. a special master could come in and take that 30,000-foot view to make sure things were handling property. the special master may be also able to return evidence not needed in the investigation. typically special masters are retired judges or attorneys who have no direct connection to the case. we don't know who the special master would be in this case if the motion is officially granted. judge cannon says right now she's preliminarily looking at doing this. fbi agents went to mar-a-lago on august 8. the government as i said has had a full three weeks to look at

this evidence. some legal experts say it's simply too late for a special master as time is not on the side of team trump but the trump team is arguing that a special master is needed for a neutral perspective and return any evidence not needed in the investigation. judge cannon will hear arguments over the special master on thursday in west palm beach it. comes after avril haines and other top intelligence officials are doing an assessment to look at classification levels of some of the documents, hundreds of documents marked classified taken from mar-a-lago. at some point she'll be briefing congress. ashley. ashley: all right. very good. david, thank you very much. john yu joins me now. john, good morning. do you agree with a special master being appointed? does that make sense? >> it is an extraordinary move. usually you don't see special masters getting involved when courts are granted search warrants and looking at the

fruits of the search. it just shows one level how extraordinary the search itself was, and i think this judge bringing in a special master shows that the court recognizes perhaps that the original search went too far. that the search warrant was too broad and that using these kinds of methods on a former president, which has never been done never, never alleged that a former president had probable cause there's evidence of a crime in his house, that accusation had never been made before by the justice department. so special master kind of trying to clean up the mess that's already been created three weeks ago. ashley: does this put the fbi on the spot because if they vigorously fight back against this, it doesn't help their image of what donald trump claims is political motivation for the raid in the first place? >> your correspondent showed what the fbi and justice department are trying to do.

they tried to speed up perhaps the review of the documents and they had a team that's a group of prosecutors that are separate from the investigation and look through the materials to make sure they didn't -- the fbi didn't take things protected like attorney client privilege, maybe even executive privilege all though that's a fight to come yet too. they've tried to speed that up as your correspondent said this morning, they're done with their review. if that's true, it might make a special master unnecessary, but i still bet this judge may grant it anyway because that court down there is coming under enormous fire for moving too quickly and taking this unprecedented step. a special master may say, look, we're going to hand this off to a trusted, maybe retired judge, someone everybody knows and that person will look at this neutrally and dispassionally and see if justice went too far and if we want to take back this fruits of the search and not let the investigators have it. ashley: very quickly, john, how long do you think this could

drag on? >> the introduction of the special master would go on even further and the possibility that the district judge and special master might come into conflict with the earlier magistrate judge and his decision to allow the search and president trump can continue to litigate. ashley: well, we'll continue it every step of the way. it is unprecedented for sure. john yoo, thank you very much for taking time to chat with us this morning. thank you. okay. the governor of new hampshire is accusing the fbi of being politically motivated. come in here, lauren. what details do you have? >> yeah, he's very curious, as are many about the timing of the mar-a-lago raid. >> former president trump has been out of office for going on two years now. think this is a coincidence happening a few months before the midterm elections and all that sort of thing so this is unprecedented, and they had to have an unprecedented strategy,

which they clearly didn't have, they're on their heels and don't know what to do. we want to see the information so we can have the discussion and talk about the subject matter with some sense. lauren: yeah, the fbi had about two years to get the documents and now that florida judge has to decide will she appoint a special master. that person shifts through the classified documents and any records protected by executive privilege, which ones are outside the scope of the search warrant but the point s all of this takes time and potentially slows the investigation as we lead up to november, and i think it remains to be seen if that's going to be a positive or a negative for the former president as he mulls whether to jump back in officially. ashley: yeah, good point. next one for you, this is interesting, voters believe the truthful coverage, if you'd like, of the hunter biden laptop scandal could have changed the outcome of the election; reich? lauren: uh-huh.

the 2020 election; right. 79% say a truthful interpretation of the laptop could have resulted in trump being elected. 52% say they were very likely, 27% somewhat likely so that's 79% say things would have been different if voters knew the truth on the laptop that it a, existed and b, was not russian disinformation. then there's an even higher number, 81%, saying the attorney general merrick garland should appoint a special council to investigate the laptop. remember, ashley, more than 50 former intel officers signed this letter publicly claiming the new york post story on the laptop had all the classic earmarks of a russian information operation. so many voters were inclined to believe 50 former intel officers. ashley: yeah. exactly. a mainstream media ignored it forever. thank you, lauren, very much. coming up, movie theaters across

the country will offer tickets for just $3. great deal but for one day only. we'll tell you when. senator elizabeth warren says she's concerned about the fed's efforts to combat inflation. take a listen. >> i'm very worried that the fed is going to tip this economy into recession. ashley: so aren't we already in a recession? who can be here to give us all tthe inside on all that, the one and only steve forbes will be here to sort it all out next. ♪

ashley: that's south of louisville in kentucky. it's currently 83 degrees there. looks nice indeed. take a look at markets, we're moving lower and the dow has been in the same range now for the last couple of hours since they opened the dow 200 points and nasdaq down over 100 points

and s&p down 30 points. come in susan lee, you've got movers and begin with streamers. >> yeah, outperformers here as well. disney signing a deal to air four years of global cricket events to the subscribers in india, and that's after losing the broadcast rights earlier this year for a pretty popular indian cricket league. the indian cricket league was reportedly responsible for a third, 50 million of disney+'s sign ups. that's impressive and not paying the full $8 a month and 50 million, that's a lot. we have no idea how much this new four year deal costs and this indian cricket league to $2.8 billion to paramount. disney is making more money -- ashley: incredible. >> yeah, off the park visitors making 17% more per visit to some of the disney parks and netflix is considering a $7 to $9 monthly price increase for ad

supported tier. have you watched house of the dragon yet? ashley: i have not. there's some controversy over the credits at the beginning or something like that. >> lot of blond wigs and matt smith is in that too. i want to show you chinese listed shares and we're talking up in a down market and after the chinese e commerce site with a mix of groupon and amazon there and it's helping lift competitors like alibaba and jd.com and i want to show you -- well, i wanted to show you some of the oil majors outperforming with some prices up two and a third% in the session so far. >> thank you very much, susan. ashley: thankfully we do not have a blond wig policy on "varney & co." because i do not look good. the governor of virginia glen

younkin and in an effort to turn virginia into california, liberal politicians that ran our government sold virginia out by subjecting virginia drivers to california vehicle laws. i am already at work to prevent this ridiculous law forced on virginiaens. california's out of touch law haves no place in our commonwealth. washington, massachusetts, oregon, and new york are all following california's lead by the way to ban both gas and diesel-powered cars. maybe not in virginia. now this, the average price for a gallon of dee sit by the way surge -- diesel surging back up to $5.05 after prices fell for 62 consecutive days. kelly o'grady in long beach, california. good morning, kelly. you're talking to truckers there there.

what are they saying about the rising prices? kelly: they're saying, ashley, that $5 a gallon would be a relief for them. the station we're at is actually $6.19 a gallon. so i want to con contextualize t that means for a trucker on a long hall. haul on average that's $5,015 every time and that's a 54% increase at it station. that's shelling out $1,857 so it's a huge squeeze for the drivers when they own and operate their own truck. a lot of cost increase gets passed down to the consumer and diesel known as canary in the coal mine for inflation. they're carrying goods to grocery stores and department stores and price of diesel goes up and so will the cost of everything we buy. that becomes problematic when you're near the ports. you saw the station i'm at,$1.15 higher than anywhere else. i'm in long beach.

the truckers behind me, they'll fill up and go over to the properties, drop off the container and pick up another to haul across the country. 40% of the nation's imports mass through the two southern california ports and with diesel prices being even higher here, that compass -r baits a growing problem -- exacerbates a growing problem nationwide and if that trend continues, you'll see higher inflationary pressures moving into the fall and add on the fact europe is turning to diesel with the soaring natural gas prices, and we're seeing a stockpile shortage of diesel in the northeast, i mean, i'm looking at this situation, ashley, that canary is not looking too good right now. ashley: some life support, kelly. kelly o'grady from long beach, california. back to the markets a sea of red picking up where we left off on friday after jerome powell and

steve forbes and we've had a lot of very bearish commentary this morning. thank god i have a big cup of coffee to get me through all of this. how long do you think this bear run will continue. >> it's a bear market rally if there's good third quarter earnings or something like that, but the trend is downward. the economy has stalled and the federal reserve wants to have more economic slowness and politicians like senator warren putting in taxes, massive regulations, big spending, there's also going to severely damage the economy. so the government whether it's the fed or government itself is working to make people poorer. ashley: you mentioned elizabeth warren, she's taking aim at fed chair jay powell and his handling of inflation. listen to this. i >> i am very worried about this because the causes of inflation, there's nothing in raising the interest rates,

nothing in jerome powell's tool bag that deals directly with those. do you know what's worse than high priced and a strong economy? it's high prices and millions of people out of work. i'm very worried that the fed is going to tip this economy into recession. ashley: steve, does she have a point? >> she's also pushing the economy into a recession as well as the federal reserve by what congress is doing, reckless spending, regulations, and tax taxation and about to sick tens of thousands of irs hyenas on small businesses and middle income americans. the federal reserve unfortunately believes that you conquer inflation by depressing the economy. that's the wrong way you do it. you stabilize the dollar. why are they setting interest rates? let the market set interest rates. they're like rent. renting the money, rent control we know doesn't work. what the fed is doing with

interest rates manifestly doesn't work. they're both guilty of economic malpractice. both senator warren and the federal reserve are both guilty of economic malpractice. ashley: very quickly, 10 seconds, is this a deep recession we're looking at or is it relatively shallow? what do you think? >> well, we're going to have a shallow recession for people who suddenly are out of work, suddenly their mortgage costs are going up is not shallow. the economy is in a stall right now but in the fourth quarter and first quarter of next year, it will be a full blown downturn because neither party, neither the fed nor the government know what they're doing. ashley: i need more coffee. all right. steve forbes. steve laying it out there. thank you so much, steve. appreciate your time. thank you very much. >> thank you, ash. ashley: more and more items by the way that used to be free are starting to cost you money. come in, lauren. i guess the era of free stuff is

over. lauren: it's like you're charging me for what? okay. check this out. you're taking a flight and you're getting a regular standard seat and the airline is charging you $100 extra not because that seat's bigger or has more leg room, it's because it's near the front of the plane. i mean, come on. then this: hotel pools. look, i grew up with the father, we were on vacation and woke up early and reserved our seats at the pool; right. whatever he put down on the lounge chairs and now the hotel is saying you want to do that, rent it out, pay up. then there's restaurants. many have increased their menu prices. now some are adding an inflation surcharge, oh and 3.9% to swipe your credit card. and at the movies, if you want to see a block buster, that'll cost you $2. i mean, this is insane, ashley. but sometimes these surcharges are a way for companies to avoid raising their price so things are costing them more right now.

they tack on that surcharge and then when things get better, they remove it and can keep their prices the same. it's my only justification that i can give. oh, and how about subscriptions, that's like recurring charges for things. maybe $5. but $5 every month, you're getting nickeled and dimed. ashley: sign of the types. one more for you, lauren, on a more positive note, movie theaters around the country selling $3 tickets for one day only. when and why? lauren: count me in. it's for national cinema day, which is on saturday. you can go and do this this weekend, which is labor day weekend. kind of nice. amc tweeting all tickets are $3 plus tax, and you can get our fountain drink and popcorn combo for $5. regal is also participating. so one thing that hasn't bounced packer from the pandemic, i kno, vacation and travel has but movie attendance down about 30% from 2019. you know, regal's parent

cineworld is looking at bankruptcy. it's tough for the movie world out there. grab the ticket for saturday. ashley: people watching from home. $3 is a heck of a deal. now the governor of mississippi declare ed a state of emergency 6789 severe flooding hits that state and live report from the latest on the devastation, next. ♪

ashley: the governor ovmississippi is declaring a state of emergency as severe flooding inundates the city of jackson. will is there. what's the latest? >> ashley, what a series of unfortunate events the city of jackson is dealing with and we covered the flash floods that

prompted evacuations of nursing homes and day cares and all that water had to go somewhere so it filled up the pearl river out of the banks and ended up here in homes and streets in east jackson. but there's some propsing news happening at this hour. we have learned from emergency officials that river has crested so the water is on its way down. we have evidence of that here. if you look, you can see the debris line around me here and it's knocked back several feet from that they know the routine living near the pearl river and have all the sandbags lined up and there's a couple days to react. this area still under an evacuation and emergency declaration order and give you another perspective of what they're dealing with at this hour. this is a live look from the fox weather beast. it's this street where i am here and see the utility box and the power has been cut to hundreds of homes here in parts of jackson per that evacuation order and we have to wait for

the water to recede and get the utilities back on and that's still a process. folks not in their homes yet and there's promising signs with the water receding and all around me, it's still going to take a bit of time. we'll continue to track the very latest for us around the clock on the free fox weather app. ashley. ashley: great report, will. hopefully no rain in the forecast and they can dry out. flooding awful. thank you so much. now to nascar, there were two major recks at coke zero sugar 400 over the weekend as rain soaked the raceway. come in, lauren. what details do you have? lauren: these videos are scary. see chase brisco's car and hits the wall and goes round and round and goes airborne and finally lands on all four wheels it's amazing. then there's a multicar pile up. austin dylan had taken a lead from 16th to first place after he somehow was able to avoid

this mess up. he'll now go onto the playoffs. there it is. it's the multiple car pile upright there. look at that. ashley: 200 miles an hour they're going there. lauren: and the no. 3 car escapes all of it. ashley: look at this. lauren: they should have stepped in maybe a bit sooner because the conditions were so bad to prevent that from happening. ashley: yeah. ashley: wow, all right, lauren, thank you very much. take a quick look as we can with the dow stocks and getting a sense of the markets and we're down, these are the dow 30 stocks and we have winners, energy stocks, chevron, wal-mart, boeing, ibm and verizon are eking out a small gain and down day and down at the bottom and apple and 3m. chris ruffo uncovered discriminatory behavior at american express and a former

employee is suing that companies saying he was fired for speaking out against their woke policies. chris russo is here next. ♪

ashley: a former employee at american express file add lawsuit against the company. he says he was fired for being white and speaking out against their racially discriminatory policies. all right. chris ruffo has led the charge in uncovering these policies in american express, and he joins me now. all right, chris, let's go through some of these policies. what do you got? >> sure, american express has been one of the leading companies promoting critical race theory in the workplace and held training programs since 2020 alleging that the united states is a systemically racist country and had employees categorize themselves on a racial and higher archiand tied to the executive compensation

toward the lawsuit with reducing the number of white employees in the work force and when you put all of these things together, the ideology, policy, hiring and firing practices, it's very clear that amex adopted a radical left wing ideology and the lawsuit alleges happens to be illegal, a violation of people's civil rights. ashley: all right. to get another topic in here, chris, the democrat candidate for governor in florida, charlie crist picked the president of the teacher's union as his running mate. republicans say it's a slap in the face for florida parents. what's your reaction? >> it is, and it's really a political malpractice. it's absolutely astonishing. there is no organized institution that is less popular than the national teacher's union. randy w weingarten and carly maz

were critical in shutting down schools and pushing masks and radical theory in k through 12 schools and they're toxic to parents and so i think charlie crist made a huge miscalculation but it's also something that's very interesting. it shows you where the power is on the left. the left is all in on the teacher's union and the left is all in on shut downs and masking and vaccinations and the left is all in on the radical theories that made ways into places like american express and k-12 schools. ashley: the teacher's union called parents terrorists for fighting back on the covid mandates? >> yeah, and actually in fact, miss mass herself was calling persons all sorts of names for questioning what's happening at school board meetings and this

is the bottom line that we've seen over and over whether from the teacher's union and the biden administration and doj, they want to shut down panters, they want to be in charge. florida voters have a opportunity to make that decision and put them back on the sidelines. ashley: yeah. some would say where they belong. we'll leave it right there. chris rufo. chris, thank you so much for joining us today. we do appreciate it. >> thanks. ashley: i want to get back to the markets quickly if we can. take a look at big tech, the dow is up 140 points and been down 250 and hanging in the same area and see the big tech names, alphabet, meta, amazon, microsoft, apple all lower. apple, the biggest loser right now in those names down 1.5%. all right, time now for monday's trivia question, and i have no clue: how many licks does it take to finish a scoop of ice cream? lauren: what? ashley: 50, 71, 92, 110?

with my extensive experience in eating ice cream, you'd think i have a clue. lauren: it's not there. it's not a fair question. there's so many variables. ashley: it's not. i know. i know. we'll get to the anxious right t after -- answe r right after this.ba ♪l . . hi, my name's steve.

i lost 138 pounds on golo and i kept it off. so with other diets, you just feel like you're muscling your way through it. the reason why i like golo is plain and simple, it was easy. i didn't have to grit my teeth and do a diet. golo's a lifestyle change and you make the change and it stays off. golo's changed my life in so many ways. i sleep better, i eat better. took my shirt off for the first time in 25 years. it's golo. it's all golo. it's smarter, it's better, it will change your life forever.

♪. lauren: okay. before the break, we asked somewhat controversial question, how many licks does it take a finish a scoop of ice cream?

50, 71, 90, 110. as lauren pointed out there are a lot of variables. what do you say, lauren? lauren: number one, 50. it is not a good question. ashley: it is not a good question. lodge your complaint. you know what? despite that you're right, it's 50. it is 50 licks. you know who would know the answer to this, i have a feeling? neil cavuto. neil, i've done a lot of research myself on this topic but i had no clue. take it away, my friend. neil: i could do it in one. all right. thank you very much, my friend. speaking of which the markets are getting kind of creamed today. buyers have been iced out if you will and we're in the cone of uncertainty. that is about all i can do with the ice cream analogies here but a lot has to be the follow-through from what we saw with friday's big drubbing. the pivot we thought we would see out of the chairman ofhe