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tv   Varney Company  FOX Business  April 5, 2023 9:00am-10:00am EDT

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stuart: good morning, everyone,
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and welcome to "varney & company". oh, what a day. elections in chicago and wisconsin put the left in power. the new york indictment has donald trump furious. let's start with this: brandon johnson is way out there on far left. tax the rich, respond to crime with social workers. he's the next mayor of chicago. he's bought and paid for by the teachers' union which runs chicago's failing schools. he won. a hard core liberal just won election to wisconsin's supreme court. that gives the court a left-leaning majority. her election points out the importance of abortion and the election issue. chalk up two election wins for the democrats. it is day after trump's arraignment, and he's had something to to the say about it. the judge? new york warned him to watch what he's saying, but he plowed ahead anyway. he said, quote, the u.s. is going to hell, and he also said i never thought anything like this could happen in america. i thought it was an angry are speech. if president biden, he's
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laughing. he's not answering any questions about trump's indictment, he's sitting back watching the great the distraction. all the attention focused on trump. inflation, china, the border, crime, crazy spending, ignored. to the markets. stocks, i'm going to call it flat to slightly lower. dow's off about to -- 30. not much movement. look at interest rates. we've got a 3 handle for both the 10 and 2-year treasuries. start with that, that's the 10-year all the way down to 3.2 the 9%. maybe a little flight to the safety there. prices up, yields down. as for the 2-year, you're looking at a really low rate there, 3.73, way below the 4% level it was at just recently. new to get to oil. i believe the quote this morning as of right now is about $80 per barrel, you're at 80.66. but look, gas, it is beginning to go up. the national average is 3.52 for
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regular. that was up 2 cents overnight but, oh, look at this, look at ohio. the average there has gone up 12 cents overnight to $3.53, up 12 cents overnight. gasbuddy told us yesterday ohio could see a 20 the-30 cent per-gallon gain this week, and it'll spread out to florida. also in the news, taiwan's president meets speaker mccarthy officially today. china is not happy. they call the visit a sneaky transit to america, and they threaten resolute measures. wednesday, april 5th, 2023. "varney & company" is about to begin. ♪ ♪ stuart: all right. straight to this, or you know this, trump plead not guilty to 34 felony counts. good morning, lauren. we heard from mr. trump last night. what did he say? lauren: it had a rally feel. he denounced the charges against him as political attacks.
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>> -- like this could happen in america, never thought it could happen. the only crime that i have committed is to fearlessly defend our nation from those who seek to destroy it. [applause] even people that aren't big fans have said this is not the right thing to do. it's an insult to our country, but our heads are held very, very high. they want to settle the case -- lauren: he spoke for about a half hour. i thought service the effective. he didn't go off on tangents. you said angry, i said subdued. i thought he was a bit more subdued last night, but that's a consequence of the long and sad day the he just had, arrested, charged. that carries weight. the charges don't necessarily carry weight. he's speaking out this morning. on truth social he wrote he wants republicans in congress to defund the department of justice and the fbi. he says the democrats have
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weaponized law enforcement in this country. stuart: thank you, lauren. charlie hurt with us this morning. i -- lauren thought it was a subdued speech. i thought he was angry. what do you think trump achieved with his speech last night? >> well, i think that -- i would have said, i would have calledded it more of a disciplined speech given the fact that usually these things go on for two hours and he wanders off on lots of tangents. but i thought it was a smart way of handling it. obviously, the anger does come through. and in my view, i think the anger is warranted. you know, yesterday was a very dark day in the country, and i would say that it's, it was sort of a vindication of everything donald trump the has been saying since he jumped into politics six or seven years ago which is that the country is broken, and, you know, the fact that that you would have a prosecutor go after a former president or anyone
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over charges that are as flimsy as this simply in order to prevent him from running for re-election, i think, underscores just how broken the country is and how broken our most cherished system system is, judicial system is, that it can be weaponized like this. stuart: charlie, when president biden was asked about the indictment, all he did was smile and laugh. watch this. >> yeah. [inaudible conversations] stuart: okay, charlie, i'm not surprised. why should he comment? the trump arraignment distracts from biden a's failures. >> right. yeah. and not only that, but also i think part of the strategy here is there are so many very serious crimes half the been committed by the biden family and that are going to be front
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and center over the next two years with republicans taking over in congress that it also distracts from all of that. he's kind of, he looks like the cat that swallowed the canary there with that smile. or perhaps he has no idea what's going on and doesn't understand the question. either one is perfectly possible. but you are right, and i think that only underscores the fact that all of this really is weaponized. the whole reason i think democrats are so intent on pursuing donald trump even though he's out of office, pursuing congress trump and coming up with these trumped the-up charges is because they wanted to distract from the biden family's corruption and from the disaster that joe biden has made of his administration. stuart: biden gets away with it, hunter gets away with it, hillary gets away with it, but trump's being charmed. my, oh, my -- trump's being charged. charlie, thanks a lot. i've got a question for lauren, how is i'll alvin bragg
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defending his decision to indict trump? lauren: it's easy for him. trump's not above the law, listen. >> these are felony crimes in new york state no matter or who you are. we cannot and will not normalize serious criminal conduct. lauren: it's laughable and it is insulting. especially to new yorkers, because he's the d.a. who down graded 52 the % of felonies to the misdemeanors last year. now he's upgrading a misdemeanor to a class e felony against a foremanth president and the leading republican for the 2024 presidential republican nomination. stuart: right. and he doesn't say what the second crime is. lauren: you should have the right to know what you're being charged with, and he say, well, new york state law says you don't have to be. stuart: really? lauren: yes. stuart: thank you, lauren, all good stuff. futures pointing south but not by much. just a lille little red ink. look who's here, eddie baa boar is back. all right, eddie, you've been a
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bear. i know you called it right in the gunning, but if you'd sat on the sideline ares as you did last quarter, you missed a 16% runup in the nasdaq. are you still holding off from the market, not getting in? >> stuart, we think these next few months are going to be the most painful part of this 15-month bear market, and this is why we are going to continue to wait. and here is why. number one, this banking crisis, in our opinion, is not over yet. and to think otherwise is my kwr50e6. secondly, we have got billions of collars of commercial debt that has to get refinanced the year. third is earnings. i think earnings season that's going to the start next week with the bank are going on the very disappointing as well as for tech. and then we've got a recession that will get confirmed this quarter, in our opinion. and lastly and i think the most important out after all five of these things is we have this looming debt ceiling debate that not a lot of people are talking about. if we don't have a debt ceiling
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agreement by june, our debt is probably going to get down grade, and that's going to cause a tremendous amount of volatility like it did in '11, and i think we will have new lows. so as a fiduciary, i can't look at these things and say it's a buy right now. stuart: what is a new low for you? if at the moment the s&p is at 4,900. 4,100. what's the low that we're going to? 3,000? where are we going? >> i believe this s&p will bottom where between 3,000 and 3,200. i don't believe this market is respecting the signal the bond market has been saying. we have too much department, and we have an economy -- too much the debt, and we have an economy, this economic today a the is deteriorating week after week after week, and this market hasn't priced the recession, hasn't priced the problem with the capital markets and refinancing debt. these regional banks can account for about 70% of business loans. they're not loaning any pun right now, relatively speaking, so liquidity is drying up.
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and the last phase of the bear market is always the most painful and when people least expect it. stuart: i'm trying to do the math here. the s&p is at 4,100, you're saying it's going down about 1,000 points. that's roughly 25%. that would be almost a crash. >> that's exactly right. and it's no different than any other bear market. these bounces we've seen are very typical. '08-'09, 2000-2002, and on the way down losing half of its value from peak to trough. so, yeah, we may have missed one quarter, but we're a long-term invest or or, and our 15-month return is very, very good relatively speaking to those that continue to wait it out and not play defense. stuart: as a money manager, it's courageous, isn't it, to try to time the market? >> well, there's a difference between timing the market and timing an economic cycle, and that's what we have cone. so we would have been in trouble if we waits until -- waited until june of last year to start
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lowering risk, but we started many questions of -- in december. we have yet to see the bottom of the economic activity. we're just now starting to see unemployment raise, weakness on consumer, the jolts data was weak. this is not the end of the cycle, this is the very beginning part of where you get that recessionary data, and it can happen very fast. stuart: okay. >> and that's what we think's going to the happen in the coming months. stuart: eddie, you make a lot of sense, but i hope you're wrong. eddie ghabour, i know we'll see you again. hank thes a lot. >> thank you. stuart: you remember when the media was really, really hoping for a trump indictment? watch this. >> this sitting president and should be indicted. >> a d.a. could get a ham sandwich indictedded. hey, listen, trump's the bug mac of this -- the big mac of this situation. stuart: well, well, well, the media is now tune changing its tune saying it's a sad day for america. i'll call that crocodile towers.
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trump's next hearing is not until december the 4th, eight months away. i think it's clint. biden wants to crag this thing out. -- drag this thing out. congresswoman nicole malliotakis is next. ♪ we can go the distance, we'll find out in the long run ♪ fresh, warm hot dogs! when i'm not selling hot dogs, i invest in a fund that advances innovations like robotics. fresh, warm hot dogs, straight out of my torso! one for you, one for you. oh, you're a messy one. cool, right? anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. hot dogs! fresh, warm hot dogs! before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com the virus that causes shingles is sleeping... in 99% of people over 50.
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stuart: president biden, yes, president biden -- no. mr. trump is back at mar-a-lago. good heavennings, varney, what are you doing here? following his arraignment. ashley webster is in nearby palm beach. don't laugh at me, ashley -- >> reporter: i'm not. i'm loving with you. stuart: what's the reaction
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there? >> reporter: i tell you what, stu, as expected last night, donald trump came right out and attacked and, not surprisingly, target number one, manhattan the d.a. alvin bragg. listen. >> our elections were like those of a third world country, and now this massive election interference at a scale never seen before in our country beginning with the radical left george soros-backed prosecutor i'll alvin bragg of new york -- [background sounds] who campaigned on the fact that he would get president trump. i'm going to get him, i'm going to the get him. >> reporter: i'm going to get him. trump then went on to detail all the other investigations against him, calling all of those an insult to to our country, unquote. and then he kicked into full campaign mode and look the aim at joe biden. listen to. listen to this. >> if you took the five worst
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presidents in the history of the united states and added them up, they would not have done near the destruction to our country as joe biden and the biden administration have cone. [applause] >> reporter: well, that sums it up right there, doesn't it? the speech if lasted just over 25 the minutes which, by donald trump's standards, pretty short. whether you thought he was angry or subdued, i think there's no doubt, stu, despite the no gag order, he was very, very tired because it was a very long day yesterday for donald trump. back to you. stuart: all right, ashley, thank you very much, indeed. look who's here in new york, congresswoman nicole malliotakis who is a republican from new york city. thanks very much for coming on show morning. how long concern this thing is going to drag on for a couple of years. trump's going to be in the dark for a couple of years, all the way through primary season, election season. that's not good. that's good for biden. >> yeah, look, we justlied through two sham impeachments,
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and this is a spam indictment. and -- sham indictment. it is thest attempt to weaponize justice system for political gain, right? look what they've done already are, and we've been able to stop them. i think it's important tor for people to know, they tried to pack supreme court, in new york city they wanted noncitizens to vote. thaw try to gerrymander districts to tilt the scale to give hem an advantage. they tried to end the senate filibuster. this weaponization of our justice system is the next thing, ask we must stop this as well because alvin bragg is creating a constitutional crisis here, okay? we are seeing a guy who's not doing his job, which is to protect the people of the city of new york. and matter of fact, just last week he released somebody with 90 prior arrests, somebody who was a career criminal, had a felony robbery charge, he reduced it to a misdemeanor, and on concern now alvin bragg, the same des moines a., is trying to elevate a misdemeanorring to the a felon and didn't even name the crime in the indictment. stuart: so crime continues in new york at a rapid pace, but
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bragg's going after trump. and on questions the 4th -- on december the 4th if the hearing comes back here, and it's supposed to, we're going on the spending a ton of money. i heard an estimate of $2 the million for yesterday's performance. >> yeah. they're putting time, resources and taxpayer money for somethin, by the way. when you have thousands of victims here in the city of new york who are not seeing their perpetrate ther being held accountable. this, alvin bragg, by the way, has reduced 1100, actually, can declined to prosecute over 1100 felony cases and reduced charges for half of the felonies to misdemeanors. and here he's choosing to go after something that the doj, biden's doj, department of justice, the federal election commission and his predecessor, cy vance, refused to prosecute. stuart: arguably, the democrats are winning because they've distracted attention from their own failures and put all the attention on trump. >> look, they're not winning, and just like they weren't
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successful in packing the court and making those radical election changes and flow allowing noncitizens to vote, we stopped them. we're going to haved to do it now too because if we're going to the see prosecutors who have no jurisdiction starting ogg to, you know, make up crimes that the federal agencies refuse to prosecute -- stuart: how do you stop it? do you get trump elected? >> no, i think we're going to see that trump at the end of the day will be vindicated here. stuart: what about in georgia? what about in the documents at mar-a-lago? >> we have to let, let's let each thing play out. i think with alvin bragg there's federal resources that we used in this case that warrant him coming before congress to answer questions. but i do see that this is not a good case at all, it's a flimsy case, a bare bones case. you've heard all those things -- institute stuart true. >> even from cnn, by the way. i think trump are prevail in this situation, and people know what bragg is all about, and he is highly partisan, rogue d.a. who must be held accountable
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which is why i introduced the prosecutors must prosecute bill to expose them. stuart: nicole malliotakis, thanks for being here, very important day. anti-trump protester thes gathered in new york yesterday. lauren are, how much did they know about the actual indictment? lauren: if there was one thing i could watch all day, it would be this clip on rerun. they were absolutely clueless, and it's the hilarious. >> what crime kid donald trump commit to get him here today? >> we don't know. we do not know. >> he paid someone money, hush money. >> yep. ask which haw did that a break -- law did that break? >> that is not the only law. >> hush money's not a law. >> no, but -- represent the law. >> what did he lie about to get him here today. >> >> the thing that got him here today -- >> and of that was -- >> obviously, i don't know. [laughter] stuart: priceless. lauren: they just don't like him. there was this op-ed i was reading from michelle gold berg,
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and she said the day felt very small, the charges are hard. even if you don't know what they are, to get excited about. the. [laughter] is dissatisfied, the right is dissatisfied, and the run -- country is more divided than ever, and president biden is laughing. stuart: good stuff, lauren are. thank you very much, indeed. check futures, please. we open the markets in six and a half minutes. we'll take you to wall street for the opening bell which is next. ♪ ♪ it goes like this. ♪ hey, girl, you make me want to drive you home ♪
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stuart: all right. where are we now with just a couple of minutes to go? down but not by very much. tiny bit of red e ink on the left-hand side of the screen. shahgy lapny with us. i sense the market really wants to go up. are you in it? are you in the market at all? >> yeah, stuart, we have been buying stuff. we're not hand of over fist buying, but we're nibbling all around everywhere from energy to commodities, to some industrials, chipmaker, tech, big tech we've been following along with the momentum big tech is enjoying right now.
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the market -- you and i have said this many, many years ago, stuart, and we said it was a rare refrain for us, the market looks like it wants to go up. we are, again, in a position where we're looking at the market, it look like it wants to go up, and it has gone up. people don't realize the nasdaq 100's up about 20% off its lows, s&p's up close to the 15%. markets have resin. the question is, are investors who have parked money in money market funds going to the come many off the sidelines and push the market higher? it comes down to probably bank earnings next week. stuart: okay. ty baa boar, you may have watched him on the show 20 minutes ago, he's calling for a huge drop in the coming months, the s&p down 20%. would you like to comment on that? >>'d key makes a great eddie makes a great case. everything he said i actually agree with. the problem is that you're missing the market on the way up. there's must be to be made on the way up and, yes, can we go back down, can we see new lows?
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yes, we can. but we can just as easily see a melt-up, and you've got to be with the market trend. higher, off lows, you've got to be there. yes, things may get fixed, with we may continue to move higher. while eddie is not incorrect, there are a lot of negatives that could pull the market down, right now they're not present. stuart: okay. 30 seconds to go to the opening bell. what would you choose a melt-up in coming months or a meltdown? which is it? >> i think we could see a melt-up and hen a meltdown. [laughter] no, seriously, the melt-up is because people want to get back in. there's so much money on sidelines. if this market gets above certain resistance points, people are going to the realize, oh oh, my gosh, i missed it, they're going to to the chase it higher ask then we fall into a recession and they go, uh-oh, too much. stuart: i'm just dying to see the melt-up. hey, shah, you're all right. see you again soon. 9:30 eastern time.
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the market is open. i'm looking at the dow, absolutely dead flat at moment. what is that, up 4 points, 33,400. some of the dow 30 is not open yet. it's kind of an even split, ups and countieses. the dow is off a point, up a point, down a point. there you go. no movement. the s&p is down a fraction, .17%. the nasdaq is down .42%, bigger losses there. as for big tech, okay, we've got alphabet to the upside not by much, 89 cents higher. meta, 214. amazon, 103. microsoft, 286. apple, 164. and we have johnson & johnson. now, they have offered $9 billion to settle the talcum powder, baby powder lawsuits. susan's with us. $9 billion is the offer. is the stock up because now we have a solid number? susan: yeah. so i was looking into this because 60,000 the have now a
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approved this $9 billion settlement. you still have, this is 75% of claimants that have now accepted this settlement, right in so that, so all you really need for the judge to go ahead with this restructuring taking place. now, $9 billion in the settlement, $7.4 billion in litigation costs, that's how much they paid the lawyers to try to settle this since 2020 -- stuart: they always win. susan i'm the lawyers always win. now, i would say that this $9 billion settlement is almost four times what j&j had originally offered. they offered $2 billion, claimants said ono. they went up to $9 billion, and jpmorgan says this is stock positive because it closes a chapter for the pharmaceutical giant. stuart: mark lanier is a friend of the show concern. susan: i think he gets a piece of that $9 billion. stuart: a big piece. remember that name. susan: go to law school. [laughter] stuart: he's an ordained
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minister, by the way. susanup oh, wow. stuart: fedex boosting the dividend, reorganizing the company. it's a big deal. susan: it is a big deal. we'll take it. increasing their dividend by 10% and consolidating all their air, ground, freight businesses into one single company. $4 billion in cost cuts. the stock is already up 30% this year, but that's the recovery from the last year when it dropped about 0% over concerns -- 20% over concerns about capacity and cost. stuart: okay, got that. you're watching the banks. susan: i am. stuart: i'm looking for any signal that the fall fallout from the crisis has been contained. susan: well, you hard jamie dimon yesterday saying the current crisis is not over, and today there are ongoing, lingering concerns especially over these small region aral banks. think of western alliance this morning which left out its deposit balance in its business update. that is such a head scratcher because you would imagine that deposits over the main business
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for any banks, right? stuart: yeah. susan: remember that smaller regional banks saw deposits crop about $120 billion in the week after svb collapse. where'd that money go? larger banks because the big four, too big to fail type of banks, also the 25 the largest lenders across america. now, i would also say that td bank is another concern. they are the most heavily shorted bank with right now in north america, $3.7 billion betting against tk. so that'snd only roughly 3% of the float, but think about the second ask third order effects because td is a large investor in charles schwab and it has been a concern. stuart: guess what? i bank at td. susan: so do i. stuart: and i've got investment accounts at charles schwab. [laughter] i want to hear about this new artificial intelligence, a.i. chip, from google. better than nvidia's? susan: apparently so. so you have google touting its
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new supercomputer chip which they say is better for a.i. than nvidia's fast cities candidated 100 one -- sophisticated. google says it will use its chips for 90% of company's a.i. works, so bard, that chatgpt except to have. they're not going to order as many from nvidia, and nvidia is down in reaction to this where alphabet is up. it's interesting that google is not paying for staplers or tape, but it will pay for super fast chips for the future. makes sense, keep it all in house. stuart: which would you rather have, a chip or tape? susan definitely chips. palantir is now providing services to microsoft's cloud azure business, so another corporate customer online. actually the, palantir was up 4% in the premarket, but, you know, a.i., that boom is probably the most dominant theme this year. stuart: it sure is. who is bullish on apple? because i think that stock's
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up -- well, or it's down a fraction. is somebody bigtime bullish? susan susan bank of america is noting iphone checks are stabilizing, priming -- improving. bloomberg says apple is accelerating the diversification away from china including these new, small tiger teams in house to identify supply chain ways to move away from china. india says they'll make 25% of the new iphones in the future. stuart: tim cook was r was in china this week, this week he's talking to the house committee on china. the relationship, very difficult one. susan: you know who else is speaking to that bipartisan committee? stuart stuart bach eager? if -- can bob iger? stuart: that's right. they. own around 40-45% of disneyland hong kong kong and shanghai which is a mega-park. and think about all the disney movies that can be shown many if china, so the marvel, etc., and
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the like. after they meet with bob iger, they're going to meet with microsoft and brad smith. and then you have iphones' tim cook in the apple meeting on friday. stuart: there are so many huge american corporation heavily tied into china. got to get that business relationship correct. very difficult to do. susan: a big news story especially with that taiwan meeting as well with speaker mccarthy in california. stuart: that's right. the chinese said they're going to take resolute measures because of speaker mccarthy -- susan: well, they can say that,s but what because that actually mean? stuart: i have no idea. check that big board, please, we're now up 60 points at 3-- 33,400. the dow winners, who's at top of the listsome johnson ask johnson. they've made an offer, $9 billion to settle thesal come powder suits. fedex is up there too. 3% higher on fedex. the nasdaq, astrazeneca, american electric power, pepsi, mondelez and xl energy all on
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the winners' list. coming up, at mar-a-lago trump slammed d.a. alvin bragg. roll tape. >> with the radical left, george soros-backed prosecutor alvin bragg of new york who campaigned on the fact that he would get president trump. i'm going to get him, i'm going to to get him. the criminal is the district attorney. stuart: okay. so what exactly did george soros do for alvin bragg? we will tell you. is and now that trump's indicted, could that set a precedent for local d.a.s who don't like biden to go after him? if i'll ask texas congressman jodey arrington after this. ♪ we didn't start the fire, it was always burning since the world's been turning ♪
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stuart: got to get back to the trump indictment. sorry, folks. the same people who are calling for trump's awe arrest have now changed their tune. lauren: can we first listen to the mainstream media praying for this during and after trump's first time in the office? >> there is talk of quieting the president. now -- indicting the president. now there is talk of jail time for the president. >> democrats have been telegraphing for a few months now that they believe a sitting president can be indicted by the justice department. >> there's generally consensus that the president is probably guilty of indictable crimes. >> he should have been indicted. >> the walls are closing in. lauren: now what happened? they're somber. that was their reaction after they saw there was no there there, right? what's the second crime? in my opinion, an underwhenning indictment. listen now. >> my thought is it's a very sad day for america. >> if you don't see this as a
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sad day for america -- >> it's just so serious and solemn. >> there's a sadness, i think that we got to this point in america. >> it is a sad day for america. >> it is a serious night ask a somber moment for our country. >> this should be a somber moment, right? i have a lot of friends on the. [laughter] side of the spectrum who are doing a happy dance right now, and i don't think that's appropriate. [laughter] lauren: what changed? we just played the back to back. i watched cnn last night right around 8:00, and a former e colleague of the d.a., alvin bragg, was on and he said, look, i have immense respect for him, but this case is on very headache key ground. on cnn. he said he brought a knife to a gunfight. because you've got to play ball hard when you're up against donald trump, and cnn said they didn't do that. stuart: all right. let's move on to listen to the exchange between fox's peter doocy and karine jean-pierre about whether the trump indictment could empower other local d.a.s to go after biden as well. roll tape. >> reporter: president biden
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is a lawyer -- >> and the president of the united states and commander in chief, go ahead. >> reporter: he is, but as a lawyer is he concerned at all that a local d.a. indicting a former president could down the line open up the possibilities with that local d.a.s that don't like former president biden could indict him? >> i'm not going to comment from here. stuart: ah. well, texas congressman jodey arrington is the gentleman on the right-hand side of the screen, and he joins us now. republican, by the way. could local d.a.s now go after biden rain hunter? have we opened a pandora's box here? >> oh, i think we have. this is the an all new low in american politics, in my opinion. this reeks of political bias. while i can't comment, stuart, on the merit of the case, i can tell you there's overwhelming evidence from the time president trump took the office to this
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indictment that he is the target of political persecution. and his crime is to oppose the left vehemently and relentlessly. and so i co, i do think this puts us in a place of mutually assured political construction. it's going to make it hard to govern and keep this union together. stuart: is it deliberate on the part of the democrats to spin the thing out so it goes all the way through the debates, the primaries, the election itself? deliberate? >> absolutely, it's deliberate. you can't hook at -- look at the track record of this t.a. and the way he has -- this d.a. and the way he has defined and applied justice and think that he is doing the in an even-handed way. there's just no way. you don't have to know the merits of the case to see that this is an intentional persecution with the goal of political annihilation of this individual, congress trump. you don't have to like -- donald
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trump. you don't have to like him, you don't have to support him. i think there are plenty of people that won't vote for him that are republicans, that know this isn't just about donald trump, and it doesn't stop with donald trump if we don't hold these folks to account. so this is a somber day, but it's the not somber because this is a series exercise, it's -- serious exercise, it's somber because they are morally bankrupting our country and weaponizing the most say -- sacred institutions like the american justice system. stuart: sir, i'm sorry we're so short on time, but you make your points in precisely the right way, and we appreciate them. congressman, thanks for being with us. >> god bless. stuart: thanks so much. we've got a headline for you, actually it's an op-ed. trump indictment's biggest winner. who would that be? liz peek wrote the story. she's going to tell us who is the trump indictment's biggest winner a little later. have you seen the new hit show "the last of us"? it focuses on a fungal outbreak.
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roll tape. >> we're not um moon from being ripped apart. >> frank, you'll never have friends because there are no friends to be had. stuart: well, well. "the last of us" may be fiction, but dr. siegel says deadly fun guy outbreaks are, unfortunately, real. the doctor is here after this. ♪ ♪ sick as a cog, what's -- sick as a dog, what's your story? ♪ sick as a dog, cat got your tongue ♪
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i have people come up to me all the time and ask me, "does it really work?" and all i have to say is, "here i am. it works." my advice for everyone is to go with golo. it will release your fat and it will release you. stuart: well, look at that. that's an op-ed written by dr. marc siegel all about this new deadly pungi outbreak -- fungi outbreak. how about that? here he is. if you've got this dangerous fungi, first of all, doctor, what because it look like? >> well, the one we're talking about from the series "the last of us" from hbo that did so well is called a zombie fungus. it turns you into zombies. and the reason it's t not going to happen, stuart, is because we're warm-blooded and ants are cold-blooded, so it is the not going to come to the us. and our immune system protects
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us, but it makes a point that i am actually more and more deeply concerned about. there's 140,000 species of fun gus out there, and there's one that's spreading in hospital where we're seeing more antibiotic resis dance because we can't pay any attention to that during the pandemic. the cdc old me that yesterday. finish it's spreading, it's affecting people that are there for chronic illness. so we're seeing fungi emerge and mutate thing. and worse, they're being played with in laboratories. here we go with the lab again. so it's possible that as these things change, they could become a problem for us. viruses, bacteria and now gun-- fungi. not mushrooms. stuart: all right. i got my answer, i think. [laughter] next one, doc. apple's tim cook i says kids need to have their screen time limited. so, okay, many your opinion what's an appropriate amount of time for a teen, 13 and up, to
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spend on their device? >> well, i want to start by saying that tim cook, of all people, head of apple with $205 billion in sales last year has some nerve saying that screen time should be limited when he's causing the problem. that's the kettle -- the pot calling kettle back. as they said in england in the 17th century, the pot is calling the kettle black. i mean, let's sell everybody an iphone, let's load them up with tiktok and and every other freaking thing that we can control and then say limit screen time? i think the way to approach this, stuart, is for great parents like you and me to actually spend time with our children. i've seen you with your kids. you're so thursday structuring -- nurturing with them. that that is what replaces this. kids during the pandemic were shuttered, they were isolated, they can't have access to their friends, and hay turned more and more and more to that apple phone. tim cook, are you kidding he?
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stuart: well, okay, or are you okay with three hours a day on a device for someone 13 years old? are you okay with four hours a day? what are you okay with? >> i'm okay with limiting it to four hours a day except that i'm telling you it's not going to work, because once you give them the iphone, they're going to find their way on it. i don't like overreach. i don't like, you know, this kind of approach. we saw this with mandates. i want to replace -- i think a huge problem here, huge. we're talking nine hours a day, twelve hours a day. just limiting it, what are you going to have your kids do instead? that's my point. let's replace it with healthiering activities, with playing outside -- healthier activities. interact face to face and limits superimposed are just going to the make kids unhappy. but, yes, when you get up around six, seven, eight, nine hours a day the, that's very unhealthy. stuart: okay. got a number there. dr. siegel, thank you, sir.
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thanks a lot. all right, let's check those markets, please. 9:55 is the time. we're 25 minutes many, and we've got some green for the dow. it's up 12 the 3 and megafor the nasdaq, it's down 74 points. mixed market today. the 10-year treasury yield, where is that? well below 4%. look at that, down well below $3.5%. you're back to 3.31. is that maybe rush to safety? you put your money in, the price goes up, the yield comes down? not sure. i'd have to believe that mortgage rates edge lower soon. gold, look at that, now at $2,040 per ounce. that's a rally. check bitcoin. $28,000, almost 29,000 -- no, no, back down to 28,3, okay. oil, last time we checked it was $80 a barrel. it is still at $80, 80.54. nat gas, man, has it been coming way down recently, $2 the 2. 16 is your price now. ken fisher, leo terrell march
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