in your household. >> a great point, paul is there anything, that you see on the horizon that would change the fed's path is this going to be final rate hike in this string of rate hikes rr more to come? >> no, i go back to rocky summer and fall, that we're expecting in equity market, part of the problem is even though a consensus for fed rate hike next week i don't think there is a strong consensus for june we believe fed will hike in june hold rates. maria: okay. >> until inflation comoems down we leave it there great conversation everybody have a great weekend so appreciate you tomas, congresswoman. claudia: paul christopher john lonski thanks, everybody, great to see you "varney & company" begins now stu take it away. good morning. . great hobbes a nice bounce its cloud business and the big

tech rallymarket could close higher today. big tech not helped by interest rates this morning, the ten year treasury yielding just below 3.44%, the yield is down eight basis points this morning. the two-year that's moved well above were present, 404 to be processed. oil 75 barrels a day. price of gas slipping just a little, regular down to an

average of 3.62, that's down 1 cent overnight. diesel down 1%, 414 is your price. politics, bad news for the president, approval rating dropped to a new low of 37% and the fact checker of the washington post is biden bottomless pinocchio getting the facts wrong about the deficit. biden says he cut the deficit $1.7 trillion, that's not true. bad news for biden in a new box poll, 70% of voters has for an think it's out 350 california street, it's in san francisco. the building was $300 billion before the pandemic, it's up for sale. i like it to be worth 60 mil million. the building is a worrying indicator for office building owners bondholders nationwide. vice president harris made a fair few gaps and presented a

few words solids as well, although approval rating but ron klain biden's former chief of staff says she is in getting credit for all she's done and she's the victim. sexism and racism. friday april 20, 2023 varney & co. is about to begin. ♪ ♪ stuart: what is that voice x listen to that voice. 9:00 on friday morning. careful with that word. >> the s word. stuart: let's get right to amazon, the big tech rally. they got issues with the cloud

business, tell me more. >> the cfo said customers started pulling back the cloud spending even more in the month of april. pastor quick from 12% to down 1% and that's where does so cloud revenue growth rate is still growing, 60% but a year ago 37% so it's a slowdown and has investors concerned. all in $127 billion quarter for revenue for amazon's are not terrible but the business is slowing. stuart: i saw intel, results in the biggest quarterly loss, 6 6.8%. >> that might have been the bottom. i think that's the expectation that intel has bottomed, it's all up from here. they are promising a recovery second half of the year. largest quarterly loss in history because of sharp fault and personal computer sales, they sells chips.

stuart: i was going to buy that in the mid 20s, a great dividend. >> lots of regret this week. stuart: did you talk me out of it? >> i did not talk you out of buying intel. [laughter] stuart: kenny is with me for the entire hour. has amazon and the big tech rally? >> i think this reaction to the amazon cloud 16%, i think it's way over and done. a great report, strong company, so many funds and retail investors, a look at the weaknesses is a number opportunity to buy amazon. how to get doing that today. it is up 34% for the year, nearly 10% from the beginning until now so the fact that they are taking it down 2% based on what i know is a good report is an opportunity. stuart: i think the market may close higher today. >> i think you're right today.

>> close higher exceptionally higher yesterday after the gdp report. >> gdp and pce, it is stagflation. >> that's the problem, we've been talking about this issue and pending recession for a long time and still doing okay. stuart: in seven hours we will find out, did them market close higher or not x that's the markets, was skewed to the new fox bowl, it reveals a majority of voters want more restrictions on gun ownership, 45% believe more people having guns will reduce gun violence. another poll shows 56% of voters believe abortion should be legal. sean duffy wednesday. is it time for republicans to pivot on these sensitive issues? >> on abortion, no.

you had the media pound this is an idea of freedom with regard to abortion and you'll get a portion, it's not just are you pro-choice or pro-life? in my show voters are not exclusively life voters, wife at conception but not late term partial abortion, let's kill babies after birth so i think there's confusion i think a lot of voters fall into maybe the heartbeat feel, maybe 12 or eight weeks but band after that this poll doesn't dig into it. in regard to guns, if you're under 35, 33, you are opposed to the second amendment and a lot of gun ownership because you can talk about in school. schools indoctrinate our children. this is not about deer hunting, this was about freedom making sure you didn't have a tyrannical government and they wanted the people to have the right to bear arms. stuart: maybe there's requirement republicans covid a

bit it. wisconsin and kansas which featured abortion. i'll move on. the white house says biden's use of cheat sheet during his press conference was entirely normal. the los angeles times denies their report gave white house questions in advance. either way the president does not look good with this, does he? >> if i was in politics, i was in congress almost ten years, you use cheat sheets, you want notes, maybe asking you questions, that is, but to get the questions from the media in advance is unheard of and the l.a. times protecting their backside because they don't want to be embarrassed is a we are giving the white house our questions so you can prepare the president on how he should answer it but the question wasn't word for word off the card but in essence what was on the card was the question that was asked.

there's no way the administration could have anticipated that question would be asked by that reported but the fact that the reporter gave them the question. stuart: it makes you wonder who's really the exercising presidential power, who is writing the answers to the questions provided for him? you think is the real presidential power? >> i have no idea. maybe individuals inside the white house leading joe biden but we have a certain protection for the media because it was a guardrail for an abusive government, you want to make sure the media keeps them in check. we see the media is in bed with joe biden giving the questions up and can answer questions he cognitively can't do off the cuff without being prepared in advance so this is concerned not just about joe biden's mental state but the media is playing into the hand or democrat activists helping prop him up as opposed to asking the real questions the american consumer

and voter wants to know about. stuart: sean, you are all right and we will be watching you tomorrow night. we will be watching the bottom line with dagen and duffy 6:00 p.m. eastern on foxbusiness. thank you. take your children to work day yesterday and president biden was stumped by one of the children's -- at one of the children. what happened? >> a child asked what was the last country you travel to? the president could not recall traveling with his sister and then to ireland 12 days ago. >> what was the last country you travel to? >> the last country i traveled to the last one i was in my i've been to, i've met with 89 heads of states so far so trying to think, was the last place i was? hard to keep track. >> ireland. >> you're right, ireland.

[laughter] how did you know that? >> he was asked how many grandchildren he has and he didn't get the number right. my grandmother also had seven grandchildren and when she was in her 80s, i wasn't lauren, and it only got worse. stuart: i must confess at my age i sometimes in very forgetful, i forget names and places in the word i'm looking for in a script, it happens to me but i'm 75 but i'm not the president of the united states. >> you don't forget my name, do you? [laughter] stuart: that's in the prompter. [laughter] >> is scary it could get worse if we are seeing signs now. >> about rivals and enemies when they see our president who does this kind of thing? >> you're just assuming his lifespan takes him to 86 that's

another question. stuart: we are going to get into that in a moment. stuart: 19 minutes to go into the market. i see stock prices lower across the board. here's what we've got coming up. this into what the chief of staff ron klain thinks is behind some of the criticism for vice president harris. >> sexism and racism -- i think that she just hasn't had -- she hasn't gotten credit for all she's done. stuart: as she got the credit? she still the border czar? sarcasm. fox news pulling shows voters think the economy is getting worse. we would take that on right after this. ♪

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and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities™. we moved out of the city so our little sophie could appreciate nature. but then he got us t-mobile home internet. i was just trying to improve our signal, so some of the trees had to go. i might've taken it a step too far. (chainsaw revs) (tree crashes) (chainsaw continues) (daughter screams) let's pretend for a second that you didn't let down your entire family. what would that reality look like? well i guess i would've gotten us xfinity... and we'd have a better view. do you need mulch? what, we have a ton of mulch.

♪ stuart: another band of baby. [laughter] had to accept -- >> i feel my music knowledge is always lacking before you. stuart: my music is nonexistent. that was jacksonville, florida 69 degrees. the cost of the inflation reduction act, funny name. it's been revised upward. grady tremble on capitol hill. if it costs a lot more, other any ethics to repeal it? >> house republicans are trying

to repeal it. speaker mccarthy debt ceiling would rollback green energy incentives included in the so-called inflation reduction act. >> we repealed broadly a big portion of this in our bill that passed the house we have good opportunity to save the taxpayer money and make our economy stronger and not invest wholly in china like the bill goes but you have senators who voted for the site joe manchin who says they have to cap it or he vote to repeal this. >> the newly calculated budget model projections as over the next ten years the inflation reduction act will cost almost three times more than it originally estimated and that's just the climate and energy provisions so our colleague edward lawrence the white house is defending president biden's homework law. >> you're with the inflation reduction act reduces the deficit over the long run. the number of experts said cbo likely underestimated the

deficit reduction from inflation reduction act crackdown on which tax cheats. >> the bottom line is inflation reduction act no matter what the white house says is costing taxpayers a lot more than they were originally told it would. stuart: thanks very much. take a look at this, a new box poll, 70% of voters feel the economy is in poor condition, 70% see the economy getting worse. republican from the great state of florida joins us now. this is good news for you guys, isn't it? the economy makes us the top issue for voters. you're looking good with poles like this. >> good to see you, too and i don't ever want us to get to a place where would rather see the man in the white house fail other than our country succeed so while yes politically the numbers are a telling sign things are great for the biden

administration and republicans have the solution and a plan to fix that get us back on track, it's terrible. i want every day americans like my family to suffer as a result of poor policy plus what we've seen out of this administration. hegemonic policies of this administration are designed to trap people, it's about dependency and control, plus a liberal left agenda. stuart: is going your way at the moment though, approval polls down to 37%. >> think about this, every single pole i know our team has run when i talk to folks back home across the country, they say the is the economy, that's the thing at the top of the list that keeps them up at night, or they have enough money to put gas in the car and groceries in the fridge? for seniors, are they able to afford medications? these are real concerns people have, they don't care about partisan fights in washington,

they want to know a plan to fix it but we get more and more spending. you can't tax and you spend your way into prosperity, you know that more than anybody. stuart: your fellow representatives from florida, named endorsements for the 2024 race are going with trump, who are you supporting? >> we were just back at this last weekend you slipped up, messed up on me storm going to hold you to it. stuart: what did i say? >> i think you are trying to call me at diplomat and you called me a democrat. [laughter] stuart: i'm so sorry. >> are we having memory issues like biden? stuart: we are. [laughter] is terrible. thirty seconds left, what you want to say? >> i will tell you what i told you last week, one 100% confident the next president of united states will hail from the sunshine state. we've got incredible talent, incredible men to run, i'm excited. stuart: you are a diplomat. i got it right this time.

[laughter] come back and see us again soon, please. you are a floridian guy, who do you favor? not you, who do the people of florida favor? >> i would have said they were favoring the current governor but he's been a couple of missteps in my opinion and people i speak to the last couple weeks between the prison around disney world and six week abortion ban, all of that is very sensitive to a lot of voters so i think people have taken a step back myself included, that doesn't mean that gone to trump, just taking a step back to see what the rest of the field will look like. stuart: stay with me for the rest of the week. governor desantis snapped the reporter during a press conference in israel. >> the reporter asked if he authorized force-feeding detainees on a hunger strike when desantis was stationed there 15 years ago.

>> did you see the same incidents? >> that's bs. do you honestly believe that's credible? this is 2026, a junior officer, do you honestly think they would have remembered me? of course not. they know people like you will consume it because it fits your preordained narrative you're trying to spin. focus on the facts and stop worrying about narrative. >> not entered the race officially and if and when he does, that's going to be the combative compelling candidate that will challenge trump. stuart: thanks, lauren. check the futures friday morning. the left-hand side of your screen, thou down about 100. fractional losses for the s&p and nasdaq. we'll be back. ♪

check futures, i see red but not that much, mark joins me know. look at amazon this morning, it's down after a strong report yesterday.

tell me again, what is the cloud problem? >> growth is celebrating faster than feared for the june quarter though expected, it's all a little bit of berkeley. this is when you want to step in on amazon. i like the stock, price targets 150. stuart: and currently 107. by the end of this calendar year, 150. >> that's right. stuart: i know you raised your price target for meta, it was 305, you've got 350, that's meta data justify 350, please. >> this might favorite rock, number one pick from the beginning of the year, one 100% on the year, still trading 14 times earnings, you've got improvement in fundamentals, more progressive than anybody else across to client and

product circles in terms of monetizing video product. i like meta, topic. stuart: i misspoke, it's 250 issue target price. >> you got it. stuart: that is currently 239 you are telling me 111 a share by the end of the year. i'll take it. to see that. how about also but? which are price target there? >> 130 on alphabet so the least upside, i like the stock, the risk reward is more compelling on meta and then amazon, google needs to take more cost out and recovery here will be slower than what you're seeing so that's how i find them up. i do think generally safer to

buy tech this year than last are and i want to be on the long side of these names. stuart: do you think if you look at that group, what we used to call the things, look at that group and still a bit more room to go up this year, is that what you are saying? >> yes because estimates, massive cost across the group and a new nieces in the name, it's called jen ai or artificial intelligence and i think it's going to be for names especially like amazon, meta and google. stuart: meta 350, that i love to see. thank you very much. we will see you soon. 9:30 a.m. eastern, friday and we spoke of the market and we are down. right from the get-go the dow is down 70 points, that's it. the dow 30 on the market, plenty of selling, two thirds are down and if you are up.

limited 2.2% at this time. s&p 500 is down .2%. nasdaq composite is down .17%. big tech will show you, apple is up 39 cents. the rest are down. back to amazon, susan is with me. you were on the call yesterday. >> i spoke to amazon's cfo before they got on the earnings call for the report card was fantastic his profit came in double estimates, guidance was higher. even cloud did better in the first quarter this year and stock rallied 11% heading into the earnings call when the wheels started coming off when you heard ceo andy said the crowd was only going to grow 11% so a steep slowdown for 16% growth rate to start this year, deceleration so far in april and

amazon sells a lot of stuff the cloud makes up the bulk of their profit and it's surprising given microsoft growth rates 27%, why is amazon web services losing market share all of a sudden at those rates? what is the mean for jobs in the company? i asked amazon's cfo and didn't rule out job because after laying off 27000, he said made a difficult decision to reduce by 18000 physicians. just like any other business as we will continue to look at the market conditions and make sure resources are appropriate for we see as near and medium term opportunity to proceed adaptively. they both noted consumers are trading down to cheaper items because still high inflation you saw with pc and a slowing economy. stuart: a buck 50. >> up 11 and a half%, 16% at the

peak losing 16% rally being down 2% is pretty stark. stuart: tell me about intel, they suffered worst quarter loss i think ever and they are up 6%. >> sales went to levels not seen since 2011, $687 million, worst three months in intel's history. they can only blame themselves but is a cost-cutting game because they laid off about 500 people or so and it off more being prudent when it comes to capital and intel only has itself to blame, stagnant, too dependent on pcs which slumped about 30% so we know the pc boom during the work lockdown is over, they missed on ai, slow on cloud, i wouldn't be buying into stock that's about cost-cutting. stuart: i was thinking about buying into it, is still pays reasonable dividend.

>> that's my problem, you have to look at the underlying property and stock and company itself. stuart: we got snap on the screen and i think it's way d down. it's down. >> i think snap, these results show how well meta has done in the first quarter this year so used to stacked missing on sales, user growth was light by a million users, less money a user. 3 million daily use, that's pretty good but that was 1 million and that's a lot more than twitter kids. a drop in sales by 6% they say so the stock is in trouble. stuart: i know you're going to talk about pinterest, they are partnering with amazon. why are they down 13%? >> multi ads but the problem with pinterest of the results. earnings the guidance was the

problem so partnerships some great but when your business slows down, it's an issue and not making as much money the user. stuart: exxon, strong report. >> i was impressed. record first-quarter profit higher oil outfits and if you're getting $70 a barrel, that's pretty good so profit doubled from a year ago. exxon combined made $18 billion in profit the first three months this year. who said the oil patch is dead but you had chevron buying back stock, the increased dividends by 1% buyback or stock this y year. stuart: they doubled their profit. alert bernie sanders. >> you want to talk about the orioles cookie maker and what they did? >> they boost their guidance, we are all stacking more and trending down on this high

inflationary, it and buying cookies. stuart: good stuff, thank you. here are two stock picks. blue our capital. >> it's a direct alternative direct lender and given the idea thanks will have trouble and pull back on lending, this one might benefit it's a 5% payer. stuart: five is the magic word. okay. >> a name i like to divide three or four months ago, five year payments company took a lot of 30,000 in the last three weeks with partnerships, a big investment by ryan reynolds into the money and invested it in another part of as well as broad net the other partnership they

have it's all about fintech and payments. stuart: a buck 88. >> it was 89 when i identified it. eighty-nine cents, now a buck 88. that's 112% of. i've had three to five years but i think it could go five to eight as investors react to this news. stuart: i'll be dead in three to five years. 2024 gop hopeful nikki haley has a warning for americans if biden were to be reelected. >> if you vote for joe biden you are counting on the president harris because the idea make it until 86 years old is not something i think is likely. stuart: strong stuff, she went there. then, bipartisan group of senators demand president biden's remaining oil.

joni ernst is leading the charge. the senator is here about to walk on the set in new york c city. welcome, senator, great to see you. ♪

we been in business 11 minutes, almost 12. the dow has come back, it was down 100 and now 20. nasdaq is down 47. this market may close higher. we'll see. iran sees oil to cut heading to america. >> i chevron commission tanker carrying oil from kuwait to houston, texas but we cease fire

in the gulf of iran. this is just the latest incident showing iran threatening international shipping lanes but also energy supply. stuart: a bipartisan group of lawmakers demand president biden sees iranian oil and gas shipments. joni ernst is leading that group and joins me in new york city. welcome to the show, welcome to new york. do you want the u.s. navy together in the gulf and sees iranian ships? >> we do have an obligation to sees iranian oil and natural gas. we do have to do this, it's something drilled down during the trump administration but when we see so far biden refusing to follow oil sanctions we have against iran. under the trump administration 75% of revenue generated from oil seizures from iran were to

go to the victims terrorism, from state-sponsored terrorism. biden has not follow that so easy the victims fund getting lower and lower when it comes to providing support for victims of terrorism. stuart: and international incident. >> but we have the oil sanctions on iran. that's the directive, president biden has not followed that. we see victim of terrorism suffering because of this and we see iran continuing to get wealthier and well here after oil sales so we need to make sure we are doing everything we can to follow sanctions put in place and degrade the capabilities of iran. >> i'm going to change the subject as i often do, transgender female beach about 14000 women in a london marathon.

now she's offering to give the metal back. you're working to protect women's sports, what you make of this man's athlete handing the winning metal back? >> i think is the appropriate thing to do. we have biological males competing against females, biological females so i am a cosponsor of legislation protecting women and girls sports act which was rejected by democrat earlier this week, it was passed by the house last week but we know there are ideological differences between those born as men and women and title ix gave women the opportunity to get out there and compete in sports and scholarship and awards and now we see biological males taking those opportunities. stuart: let me get this right, stopped young men transitioning into young women, would stop

those people from competing against women in sports? that's what you want to do? >> yes. what the law does is any of those groups whether college or school receiving federal funds and they allow biological males to compete against biological females and female athletics, they would be in violation of the law but unfortunately it's not now going to be the law of the land because of democrats. stuart: keep fighting. i understand your annual gross invite is coming, you will be writing a motorcycle. >> there is a harley davidson -- roast and ride.com, please go out there. the benefit of the motorcycle ride, the benefit of the motorcycle ride this year will be freedom foundation which

assists iowa veterans so roast and ride.com. we'd love to have folks even if you can't attend june 3, we'd love to see the support for that foundation. stuart: it's very important. >> 2024 caucuses coming up, we've invited all of our presidential hopefuls, a number have responded already. it's going to be a blast so come to des moines iowa june 3. stuart: the democrats dropped iowa as the first primary state to south carolina, didn't they? >> the democrats gave the middle finger to middle america. [laughter] stuart: joni ernst from iowa. thank you very much. the ultra right in the bud light trans controversy. >> they are expected to pass $1 million in sales 12 days time. they sold 20000 sixpacks because

of the bud light boycott. the guy there, the ceo said sales are more about -- it's not about his beer, it's the movement of people, they want to buy book free, that's what his brand is offering. stuart: online sales? >> distillery is in georgia and i'm assuming they don't have wide distribution. stuart: beer in georgia. well done. >> no name brand selling beer, they are putting a lot of money on a new marketing blitz for bud light and every decision made has to go through the higher ups so they know no more dylan mulvaney, who want to see through it. stuart: if you have a choice of beer, what is your choice? >> i was going to say it used to be bush light and no longer.

in iowa you call it bush latte. [laughter] changed significantly with campaigns pushed down so i'm looking for a new beer. stuart: welcome to new york. not too late to be on the show today, don't forget to send in your friday feedback. e-mail questions and comments and critiques, even hate mail. look at this, headline in the washington post, biden's misleading deficit claim earns a bottomless pinocchio. i say it's time the president gets real and honest but i can see that happening. that's my take and he's at the top of the hour. ♪

goli, taste your goals. 60 families of loved ones died of fentanyl overdoses constant check. what are they saying snapchat is

doing? >> they say that check algorithm is used by drug dealers to find young people to sell the drugs to and it's having devastating consequences for families across the country. horn to introduce you to som someone, this is sammy chapman, 16 years old, a team when he died from functional poisoning in 2021, his family says he bought a fake prescription pill through the social media platform that killed him. we had a chance to talk to his dad this morning. >> a colorful drug menu on snapchat but a dealer who found him there produced and ordered something off the menu like pizza. it turned into the dark web for kids. snaps disappear for the kids take they can operate within unity. >> that's what it's about, these

families say the company is becoming the quote go to means to distribute drugs to children, teens, young adults and they say snapchat is involved in more fentanyl placing deaths than any other social media apps. it points to staff check to keep feature that automatically deletes messages between users they share but also on the backend as well which makes messaging and accessible to law enforcement. we reached out to staff check in a spokesperson tells us the lawsuit is riddled with false claims about how does that chat appleworks, ongoing efforts to aggressively combat drug activity on our platform and shut down drug dealers. they continue to work to keep drug dealers off the platform and change like using technology to find the drug dealers but it's a growing list of troubles for social media platforms. hundreds of families sued tik tok and meta- over mental health

concerns, pennsylvania became likely the first county last month to sue social media platform's over mental health issues but it's bringing different level, suing saying apps are used by criminals to target children. stuart: good stuff. i think you might be right, this market could end higher. the dow turned around 31, s&p three. >> nasdaq is going to turn around, to. stuart: thanks very much for being with us. still ahead, we have with us mamie francis soros, and florida senator rick scott. the 10:00 hour of bernie and company is next. ♪

and i remember kind of thinking like, "oh my gosh, i think we could be sisters." because i think we looked... yes. right. yeah. and i don't think at that time- i think you're the one to tell me that we had the same birthday. yes. it's really unbelievable when you think about it, because it's been, like, really over 20 years that you were my mother and father's banker, you became my banker and now fran is in her third year of college and you're her banker. it's so unbelievable because i'm just 20 years old. [laughing] stuart: i knew that was a dell. i love that voice. that is crystal clear.