♪ stuart: all right, let's get on with it, good morning. it is 10:00 eastern. straight to the money. market check. we are seeing reading but not much movement on friday morning.

fairly even split, one third up, one 2 thirds down, what's the tenure treasury, still operating north of 3.5%. oil backing further away from $80 a barrel. he must dollars per bitcoin. bitcoin is up $28,000 per coin as we speak. a brief look at the markets. now this. president biden will announce his reelection bid next tuesday. a big bash is planned complete with mega-donors and a polished videotape. it is going to happen. he is going to run. when i said i thought he would not run because democrats wouldn't let him i was wrong. they are letting him run. where's the enthusiasm? i don't see the democrats joyously celebrate, poll after poll shows most democrats don't want him to run. in new hampshire only 25% want

him as their first choice. i don't think he has the energy for a second term. he will repeat the basement strategy avoiding serious questions but in a presidential campaign it is hard to stay permanently on prompter. voters know when you're hiding. i don't think his policies measure of either for a second term. energy, immigration, spending, taxes, all green all the time, that is not what the country wants or needs, this man is out of touch. his biggest problem is his age. to put it bluntly, a forgetful, tired 80-year-old guy is in no position to mount a strenuous campaign. at 82 he would be in no condition to start another 4-year term and all the time vice president harris looms in the background. the democrats are terrified that are aging president could be incapacitated at the party has to run with president harris. i was wrong about him not running but i am right about

the democrats not wanting him. they are stuck and there is now no graceful way for them to get out. second hour of varney just getting started. it is friday, tammy bruce at 10:00 in the morning and here she is, big smile to start things off, the democrats are not happy about him running i am sure. >> as you noted by the majority of democrats in the grassroots, regular americans don't want him to run. they know what has happened and it has affected their lives and he has a challenger for the primary and robert f kennedy junior. the media is trying to avoid him and we will see if that works. he started with a good percentage, 14% or 15% like him. this is indicative that they have been running on a fantasy

that accidentally worked which is the basement strategy and they think we can do it again. look at everything that has happened that they've been allowed to do and it has given them a false sense that we can do whatever we want to. it will be up to the american people to change that. the country is at risk, not just politics, if this guy stays in and these policies, if they get the impression we can do whatever we want things will get worse. stuart: heaven for bid something happen to our president, the election in november of 24, because that would be president harris. >> that was the argument in the beginning. he must've chosen her son nothing happens to him. there is a bench with the democrats, at least a few, she really has lowered the bar when it comes to what you would expect from someone in politics. even gavin newsom might be able to manage his way through something but what's going to affect us is a black swan event either with the banking,

international relations, the middle east widgets going to be something where americans snap to it realizing something very big is at stake. stuart: or terrible serious gaffe by the president which betrays his age and infirmity. the big one here. it looks like there's a breakthrough in the hunter biden case. did attorney general merrick garland interfere in this case and obstruct justice? looks like it. >> the only way to find out about this is from a whistleblower. that has always been the case. calling for people inside to show us what you have because otherwise it is so protected and they have gotten away with so much. look at everything the doj has starting with the tea party and lois lerner and the revealing with the irs by the irs of tax filings to the enemies of the pro-life groups as an example, spying on americans and nothing

has happened to anyone. no wonder they think they could get away with it. a whistleblower with receipts which this particular one claims he has, not like he said he said that he says he has receipts, his lawyer says this which could be valuable and important. i don't know if they expect nothing will happen but this is on hunter biden. this reveals how we have a system that is operating like a cartel. we have to stop it. we've got to interfere with this rollout that they have that emboldened them to do this. all of us are at risk when you've got a government that is completely forgotten about the average person. we are all forgotten men and women and need a future that is not another extreme swing of the pendulum as we addressed what certainly is corruption, we know, in the government and

possibly criminal behavior. stuart: you brought the fire as usual. we will see you next week. i've got more on what is going on here. congressman bowman and republican congressman byron donald got into a heated dispute over the hunter biden revelations. lauren: donald is a republican, represents florida, bowman, democrat new york, dad of three. president biden being compromised because of his son is what this debate was about. >> you have the president's brother, the president's son taking wire payments from people across the globe. they are taking payments. we've documented one million dollars going to hunter biden, facilitated with other members of the biden family.

>> hunter biden is not running for president! you know better than that! >> you know better than that. >> hunter biden is getting money from people with chinese companies. if he's facilitating the sale of a cobalt mind to china, joe biden is sitting energy policy in the united states you don't think the man is compromised? he doesn't know what his son is doing? >> you are talking about hunter biden in a right now. lauren: they are fathers, you know what your son is doing. stuart: i think byron donald won that one. thanks. back to the markets, look who is here, friday morning. kenny polcari is with us. you say i gave you a hard time about the market during your last appearance. i have no memory, what did i say? >> it wasn't wrong, just to

debate, us me what i thought. i said i thought the market would go lower, you said it would go higher. i think it's going to go higher but it's going lower first and you gave me a hard time, told me i was wishy-washy. stuart: well i'm very sorry. didn't mean to say that. the truth is at this moment, i've been saying the market wants to go up but the professionals on the street say a big drop is coming. it's almost universal bearish feeling. >> that could be are contraindicated because there's so much bearishness you could see the market move higher but i am still in that camp, just one week into earnings, we will start to get more into the meat and potatoes through the next couple weeks and that will give a sense of what the economy is doing, you 'll see some difficult numbers, some cautious guidance and that will put pressure on the market. it's not going to crash.

i'm not looking for a big crash but 38 to 4,000 on the s&p which would be like an 8% move from here which is well within the trading range and i think that's normal and healthy. stuart: when do we get through all this? do we have to wait till fall? >> i think once we get through earnings season and then we get a sense of what the fed does in may, the next conversation went from 2 weeks ago there was going to be no fed hike because ppi was so great, then it turned into we will get one more pause and now it is maybe we will get one more and then another one in june which is also causing some angst in the market. we saw it from a couple head head heads. we look for a higher rate than 5 and a quarter. until there's more clarity, that's going to continue to, the path of least resistance is lower but once we get clarity on that, the market starts, to your point will move higher.

stuart: supposing i said the following. federal reserve will not raise rates in may. it is steady as she goes. what i be wrong if i predicted that? >> i'm going to say you are wrong. i think they will raise in may and then pause. i'm not into multiple bank hikes. i'm in may and then pause through the end of the year. you are wrong in the sense you say they won't raise and i say they are. stuart: we will see you again next week, we will figure out who was right and who's wrong. the 6 month bill pays 5. 04%. never forget that. have a great weekend in florida, see you soon. movers starting with overstock. more on that moving 7%. >> they were cut on reduced furniture demands. we all know that but piper says things got worse in march and

stayed bad for a few months. talk about of the pandemic was $95. stuart: freeport mcnamara and is a huge copper producer, why sit down? ashley: their profit more than half on lower production, sign an economic slowdown but also a worker shortage. fcs has been complaining they have been having difficulty finding workers in the us. if they had more workers they could produce more so they are down 32/3. stuart: i understand the guy who runs snap is saying something about tiktok. lauren: he is sure of the tiktok been in the us because it would bring business to his platform. he gets what we are looking at that could set dangerous precedent. we need a long-term solution but he says in the short term it would be great. we won i don't think tiktok

will be banned completely. i don't think they will do it. lauren: a lot riding on it. bipartisan support. stuart: small businesses, a couple million small businesses. >> i was in lululemon the other day and the saleswomen were saying tiktok has made what they had in store for ages more popular and sellout because of tiktok. stuart: new shocking claims in the hunter biden investigation. a former cia official says in 2020, anthony blinken asked him to write back and intel letter which claimed the biden laptop story was russian disinformation. it was not disinformation. miranda devine broke the story and was with us in this hour. karin jean-pierre cut off and nbc reporter after she was asked if biden shares some response ability in making sure we don't default. we have a tape of that and you

will see it. nancy makes calling out democrats who oppose the bill which bands biological men from competing in women's sports. watch this. >> we worked too hard to put up with the part of the left that wants to take our achievements away from us. stuart: the congresswoman is here with me onset coming up shortly. ♪ ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪

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and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217. so many people are overweight now and asking themselves, 1-800-217-3217. "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now, there's golo. golo helps with insulin resistance, getting rid of sugar cravings, helps control stress and emotional eating, and losing weight. go to golo.com and see how golo can change your life. that's g-o-l-o.com. stuart: not much action on the markets. it's friday, a weekend coming up, dow was up 50, nasdaq down 22. now this.

house minority leader hakeem jeffries attacked the republicans women in sports act. what did he say? lauren: he said this is not an issue. female athletes should be able to compete against anyone and if you try to say otherwise you are just an extreme amag republican. >> this is not about politics. this is about being there for all of america's children. extreme amag republicans are trying to sensationalize an issue that doesn't really exist in 4-way the they are falsely portraying. stuart: you keep hearing from democrats that this house bill is hateful, they equated to bullying kids. kids just want to play with their friends on these teams, may be in coed sports when they

are young but tell that to a female in high school looking to get a scholarship to professional athletes being denied metals, they just want to play and have fun. stuart: former college swimmer riley gains called out democrats are insisting biological men should be able to compete with female athletes. role it. >> you hear these arguments democrats are putting forward and saying where is our compassion towards these trends athletes. where is the compassion for an athlete like myself. a young girl who has to share a locker room with a man? this is not something that should be 1-sided. it is almost ironic, the left was once a party that embraced women and fought for women's rights and we see this narrative being totally flipped. it shows the war on women is underway on the democrats will pay for this in 2024. stuart: nancy mays from

california -- south carolina -- terribly sorry. >> we are here this morning. every day is monday. stuart: it was a senior moment. i see this issue, democrats see it as discrimination against trans athletes which i see it as an issue of fairness. >> it's discover nation against women if you want to get to the bottom of it. i want to thank riley gains for having the courage to tout her deeply personal story. a young woman who had to compete against a biological male denied a metal and didn't get first place because he was much stronger than her physically and had to share a locker room with a biological male. yesterday on the floor the amendment passed on the bill, republicans were called insidious. what is insidious is forcing a girl to share a locker room with a boy, having to change in front of them, people being stripped of their achievements. women have come so far in the left is going to say you are not good enough, we will allow biological men to compete

against you, take your scholarships, women and girls are already vulnerable before they ever dive into the swimming pool and this is the way women are treated by the far left today. we when surely this will not be accepted in the united states senate. >> what we are told is it will go nowhere in the senate which is insane to me. i'm a girl mom and want her to have as many opportunities as possible. i look at her achievements, it took 100 years for south carolina to get its first republic and women in congress in 2020 and took 154 years for citadel to have women in it. we worked so hard for hundreds of years to get these achievements in the left wants to strip them away. stuart: you want more action on gun control and abortion rights within the republican party. you say the party stance is gone too extreme. could abortion upset and think the republicans in forthcoming elections? >> it can.

it did in 2020. we did not win as many seats. i'm pro-life but also pro women. they are not mutually exclusive. if you're going to ban abortion let's make accessed should birth-control more acceptable. we have 14 counties in south carolina that don't have a single ob/gyn doctor. there are things we can do to be pro-women like we were yesterday, following the science or biological women in sports but on the gun violence issue when i say gun violence some mistaken for gun control. i carry a firearm and there are a lot of things we could do in the middle that would show we are compassionate towards the increasing gun violence we see in our country and those are the things we need to talk about. we won compromise on those two issues, either compromise or lose. >> or show a pathway leading on those issues. we don't have to lose on those issues. stuart: nancy mays, first i said you were from south california, then i get your name wrong. >> friday is monday. stuart: i'm 75 in a couple months.

stuart: you are doing great for 75. white house press secretary karin jean-pierre cut off a reporter after she was questioned about biden's debt ceiling strategy. lauren: the reporter, kristen walker, nbc, she wanted to know why president biden wasn't negotiating with republicans on the debt ceiling. this is the exchange. i call it defensive but also testy. >> is the president risking the same by dragging out -- >> it is not -- it is congress that is risking this. these political stunts you are seeing from speaker maccarthy in the amag a wing, this is dangerous. >> do they have responsibly? >> the responsibility to make sure that we do not default, it sits in the hands of congress.

lauren: the point i liked was the president said to speaker mccarthy show me your budget, not show me your budget that i agree with. you have to negotiate and they are not doing that. nbc, that reporter is frustrated. stuart: more on the same lines here. don lemon got into a heated debate with presidential candidate vivek ramaswami. >> the lessons that we learn -- >> not allowed to enjoy freedoms. >> i disagree with that. >> what other ethnicity you are explaining to me -- >> what other ethnicity? i'm indian american and proud of it. stuart: a melt down there. we have the tape for your you will see it. president biden will announce his reelection next tuesday. i don't get the impression democrats are happy about it. it. newt gingrich on his possible second term after this.

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stuart: the dow is up 50, the nasdaq down 10. not much price movement. lauren is looking at the movies including amazon which is moving up today. lauren: they reported earnings thursday after the bell and jpmorgan says they are the best idea in the internet sector snapping up market share through untapped categories, grocery, clothes. but when i want to see procter & gamble, they ruled the supermarket, looks like they've got pricing power. lauren: they certainly do. they increased prices double digits two quarters in a row and customers accepted the price hike so i guess if you like thai you like thai. if you like pantene that the shampoo you are buying. some customers are trading down to cheaper alternatives but procter & gamble does have pricing power. stuart: what about eli lilly?

>> they expect full fda approval in the middle of the summer for one of theirs and medicare to back down from strict coverage limits on these new alzheimer's drugs so lily lanes to release their next trial reports this summer. we expect fda approval and if medicare picks up the bulk of the cost think of the market, think of the market. stuart: baby boomers coming to be 60 and 70, can't remember a thing. thanks. president biden will announce his reelection campaign next tuesday. former house speaker and author of march to the majority newt gingrich, joins us now. i don't get the impression democrats are real happy about this. do you? >> i think democrats are stuck. they know that on one level biden is less and less cognitively capable, he wanders around the platform looking for people to shake hands with, compare him to other world

leaders and he looks week and out of touch. they know kamala harris is hopeless. they have the top two leaders are not very strong in terms of running for reelection and you have economic problems, border problems. every time you turn around is a new challenge and no since this administration is ready for that. he has served that a certain advantages. incumbent presidents in their own party are powerful, jerry ford beat ronald reagan, jimmy carter beat teddy kennedy so i would not say he can't get renominated but i think there is a huge base of the party. i saw a survey this morning that says his base -- 32%, 68% of the party would like somebody else and that doesn't count republicans and independents. even among democrats he is pretty weak for an incumbent president.

of the one i find vivek ramaswami one of the more interesting candidates. listen to and exchange, don lemon had distant exchange with vivek ramaswami. >> one of the lessons we learn -- >> aren't allowed to enjoy freedoms. >> i disagree with you. >> you can disagree with me. >> here's where you have different point of view. i think we should be able to express our views regardless of the color of our skin. me regarding you as a fellow citizen. >> whatever ethnicity you are explaining to me -- what it is like to be black. >> i will tell you what i am. i'm indian american and proud of it but we should have this debate, black, white, doesn't matter, on the content of the ideas. stuart: a don lemon meltdown but he is one of the more interesting candidates out there. >> i've done two podcasts with him over the last couple years

which is fascinating, his life story is fascinating, he's intellectually brilliant, he's been a successful entrepreneur. i don't think he has a great opportunity to become the nominee but has a huge opportunity to inject ideas into the party, to shake things up and get us in new conversations at as you saw in that clip he can stand up to the left as well as anybody we have and make sense. here is a second-generation indian american explaining to don lemon what being an american is all about because the truth is vivek ramaswami understand it better than don lemon does. stuart: don't be a stranger, see us again soon. by the way, vivek ramaswami visited all ten counties in new hampshire. how's he doing with the voters? lauren: they are warming up to

him as he introduces himself. >> might have sealed the deal for me. >> trump has a record, has shown he can do it. this guy i believe he can do it. that is what is making it tough. trump has done it and i know he can do it again. >> haven't decided again. >> i like his style. his stance on currencies aligns well with me. >> the younger generation shows wisdom that an older generation -- lauren: he is a young candidate. he's 37 and is running the way trump did, as the outsider candidate and says things i don't care what color your skin is, he what's to get rid of affirmative-action and is constantly slamming the culture of victimhood, just move on his his message.

that could be refreshing for all generations but could make that appealing to the younger generation. stuart: biden is going to announce his 2024 reelection campaign next tuesday but again i don't think democrats want him. lauren: the new results from the university of new hampshire, 50% of likely democrat voters want another biden term and 1/4 say we support him. biden's approval rating is at 42%. new hampshire has been bumped on the primary calendar, south carolina is first and people new hampshire feel they are saying was taken away. stuart: people by what feel the same way too. you can still be on the show. sending your friday feedback. email your questions, comments, critiques, fox.com. leaked intel claims, china is

building cyberweapons to take control of other countries satellites and make them useless in wartime. we have it next. ♪ ♪ ♪ ..

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mara, are you sure you don't want -to go bowling with us tonight? -yeah. no. there's my little marzipan! [ laughs ] oh, my daughter gives the best hugs! we're just passing through on our way to the jazz jamboree. [ imitates trumpet playing ] and we wanted to thank america's number-one motorcycle insurer

-for saving us money. -thank you. [ laughs ] mara, your parents are -- exactly like me? i know, right? well, cherish your friends and loved ones. let's roll, daddio! let's boogie-woogie! stuart: quiet day on wall street. what you have now is 18 point gain for the dow under 25 point loss for the nasdaq. optional up and down. the treasury yield yielding 5.05%. looks to me like a bargain.

officials in taiwan worried the rhetoric on-chipmakers could hurt their business. lauren: taiwan appreciate the bipartisan support of taiwan should china invade but there's increase tone, is going to scare off investment. asking the us to tone down the rhetoric, if you look at comments by congressman mccall he said the supply-chain for semiconductors are vulnerable. we rely on taiwan for chips and at the end of last year berkshire hathaway hit 80% of its taiwan holdings. they cite small things like this adding up, they feel vulnerable and bloomberg is reporting they are asking the white house. stuart: can't say i blame them.

china wants to become the dominant force in the space. ashley webster is on the space coast in florida. what are the chinese doing to become the dominant space nation. ashley: they are gaining ground rapidly. researchers and scientists say in the next two years the race will intensify. whoever comes out ahead will have the advantage. both countries have plans to land on the moon by the end of this decade if not sooner but the us military is sounding the alarm. according to some leaked documents from the pentagon reported by the financial times the us military is concerned china is building high-tech cyberweapons to seize control of enemy satellites. that may sound far-fetched but experts say the threat is very real. listen. >> if you have a chinese satellite that is in orbit you can bet your bottom dollar that it has not just both civilian

and military capabilities but primarily military capabilities. we are behind in that facet as well. ashley: the moon is a target for a number of reasons. it's a resource rich environment that could be used. it also could be used as a base for missions to mars. we talked to a former astronaut who says the us cannot afford any time to wait. >> i think the chinese will be right on our heels. if we slow up or dally in this process we will watch the chinese go back to the moon before we can get there ourselves. that will be huge blow technologically and economically in reputational he on this planet. ashley: nasa administered a bill nelson put it more bluntly. he says as an example china is building military bases in the south china sea just shows how aggressive they are not only on earth but potentially in space. stuart: thanks so much.

i want to take a moment to promote a new season of american built that begins monday at 9 p.m. at 9:00 pm eastern. first episode of this new series is about the mars rover. one democrat state senator in north carolina is getting into the desantis disney fight. lauren: he appointed a commission and given them $750,000 to study how you can move bob iger and disney from orlando to north carolina to be free from the cultural madness that has engulfed florida. this is going nowhere in my opinion. disney, florida is disney, disney is orlando. you know the perks and incentives you have to give disney to make it move? pro capitalism right now but you could say some of his crony capitalism, if you look at some

of the tax incentives disney gets to operate in orlando. stuart: they are not moving to north carolina. nice try. lauren: one never knows. ashley: a resident of san francisco asked governor newsom what he will do about the fentanyl crisis. >> what to do about the fentanyl, my name is jj smith and what are you going to do about the fentanyl. >> tell me what we need to do. ashley: steve hilton will be here shortly. the accusation is merrick garland interfere in the investigation of hunter biden's laptop. that would amount to obstruction of justice. brian kilmeade and that next. ♪

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stuart: it has not been a great week first talks and it will not close out in any great fashion. a couple hours to go before the closing bell but at this point a little bit of red ink across the stock market, dow is down 60, nasdaq down 50. the 10 year treasury yield living up a little, 3.56%. checking gold, still away from $2,000 an ounce. it is holding it 1987 as we speak. bitcoin just at 28,000. oil just at $77 a barrel. natural gas still down at 220 one. gasoline the average price for regular is 368, virtually unchanged. diesel is at $4.19, no change. it is 10:50 one eastern time. on friday morning it means kilmeade time and here he is. let's get straight at it.

the accusation is merrick garland obstructed justice in the hunter biden laptop pro. what do you know about this? >> before the whistleblower could briefed congress, he wants to meet with his lawyer, tell him everything is the irs investigator. to do that he needs permission from congress to do it from this committee to do it, bipartisan, when he does that he's going to open up the whistleblower to his lawyer and decide how to approach this. it is confirmed is the attorney general. david wise, the attorney delaware, kept over from the donald trump era, doing the 5 year investigation. imagine a 5-year investigation on something where we see the paperwork and all the money and the irs payments, the guy who made the payments and try to one complicate this deal and find out what international foreign deals he was cutting without proper credentials.

stuart: is this the big break? this is it? brian: when this whistleblower comes forward, watch where the other networks are covering it, not only are we covering it, it will be impossible to avoid. he wants to change the subject, that's why he's announcing on tuesday. he's desperate to talk about something friendly to the left, like green energy, environmental causes, he's doing that today. i think he's desperately trying to change the csonka. stuart: congresswoman nancy mace was on the show moments ago. listen to what she said about the bill protecting women in sports. watch this. >> it's discover nation against women if you want to get to the bottom of and i want to thank riley gains for having the courage to tell her deeply personal story. a young woman who had to

compete against a biological male who was denied a metal, didn't get first place because he was much stronger than her physically. had to share a locker room with that biological male. yesterday, an amendment but passed on the bill, republicans were called insidious, what is insidious is forcing a girl to sherry locker room with a boy. stuart: i don't see how biden and the democrats can defend biological men competing in women's sports. it's not fair but they are running with it. >> it's easy to come against these horrible people called white men, but when you say my mission is to sideline and marginalize women, good luck with that message. when you drill down at it that is what you're saying, women competing at the highest level is of little importance, it doesn't matter who decides to enter. they are calling it bullying. hakeem jeffries says it is not an issue. you didn't watch division i

swimming, you haven't been paying attention to the debate in this country, now that you are in third grade. now picking what pronoun we want, thankfully in florida, putting it into that. what muddied the waters is megan repeating no --rapino when they say no one cares about the high school volleyball enough. i talked to a division i volleyball player who is coaching division i volleyball who cares a lot about division i volleyball. why is high school volleyball not good enough. no matter how hard you train, if a man wants to compete with you they can and get the middle. why do women not matter suddenly. stuart: women in sports, men

competing with men, women competing with men and trans competing with friends, separate category. what's wrong with that? brian: i haven't seen the numbers, half of 1%. this is my analogy and it is a good one. when kobe bryant at 18 goes to the lakers he's playing the lakers, he might be 19, those are my age, kobe, kevin garnet, trying to come out of high school early, can't go backwards. can't go backwards. you made a decision. you make a decision, those are the rules, you can train but you won't be able to compete. that is the way it is. that is the reality we have to live with because of a small number of people who decide something for them. it's not right to mess with other people's dreams along the way. stuart: good stuff, see you again, next week. on the show just ahead steve

hilton, miranda devine and morgan ortagus. president biden will announce his reluctant bid next week. my question is will the real president come out from behind the curtain so we know who's really running the country? that will be "my take" next.

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