agreement in this debt negotiations clawing back some covid money. >> yeah. yeah. that is seems to be it. maria: there is no other -- >> the other thing that should be on table is permitting reform in house passed bill broad support for that, everyone says we need it just never gets done. maria: great point. >> that is what a joe manchin wants a great conversation we so appreciate everybody's time bob dole douglas holtz-eakim, mark tepper cheryl casone a market lower right now kicking off to the day down 136 opening bell now 35 minutes away, 30 minutes away we will see you again tomorrow have a great day, everybody "varney & company" up now stu take it when we start? america has been invaded, presents family influence peddling and trump is back on tv rolling all over cnn.

for news folks, this is a target rich environment. start with this, inflation at the producer level. a measure of inflation and business cost of 2.3% in the last year. that means inflation at this level moved down for the last 11 months in a row. little change for stock prices after the release of the numbers, the dow on the downside to the tune of 155 points pretty much like that before the numbers came out. s&p down seventh but the nasdaq because interest rates are down, up 17 points. his interest rates, we will start with the ten year treasury down a little, don a lot. 3.35% is the yield. the two-year way down, down nine basis points. 3.82%. got to show you the six month, alexa 5%? what a deal. 5.08% for six month treasury. next case, 15 hours from now title 42 would be lifted, tens

of thousands are ready wind up just waiting to be processed into america. the administration shipping them out around the country. towns and cities cannot hope. the president came to new york city wednesday. ironically they closed streets for security, the whole city just about just as the mayor suggests closing streets to make way for tents and comments. biden praising money from rich new yorkers in the very city he helped to ruin. there's headline for you. biden family business, "wall street journal" covering influence peddling scheme but nobody else is. zero coverage on broadcast networks. they're not done with election of difference. then donald trump and cnn town hall wednesday night, the ditch trump language of biden rolling all over his interviewer as human. he looked energetic sharp, no losing his train of thought. what a contrast with the

president. it's going to be a big show this thursday the 11th, 2023. varney & co. is about to begin. ♪ ♪ stuart: oh wake me up. is that a reference? mr. trump last night that's for sure we want good one. [laughter] stuart: just hours on title 42 expiring. you're going to see extraordinary scenes throughout the show today. number of illegal migrants crossing the border is expected to swell to around 13000 a day. jason is joining me now. we are looking at towns and cities around the country bracing for this wave.

some rejecting arrivals. chaos at the border about to come directed to also? >> i would argue chaos has been there for some time for the exponentially going to get bigger and doesn't have to be this way. what's infuriating is it's a policy decision, a clear choice by joe biden kamala harris to invite these people to come, don't expel them, go through regular order, it doesn't have to be the get this is child for human trafficking, trafficking, all kinds of drugs at the border, we don't know who these people are in the flow into the country, welcome to america and we are all going to pay for it. stuart: it's cool. i don't mean to get too strong but it is cruel when you see suffering these people are going through. they shouldn't be here, they suffered enormously to get here and suffering in the country.

it's cruelty on mass scale. >> literally tens of thousands of unaccompanied minors that they don't even know where they are at. they literally hand them over to people and we don't know who they are and how do they do t this? it's so immoral what they're doing and now you got places like new york city and others complaining about it even though they are sanctuary cities. stuart: donald trump book about the war last night, watch this. >> tomorrow is going to be a day of millions of people pouring into our country right now at a level nobody's ever seen before. these people are sick. anybody who wants this to happen to our country, they are destroying our country and this should not be allowed. they're not going to do a version of title 42 or my title 42 which is tough. if people are sick and infectious diseases, we do want

them coming to our country, we have enough problems. we have problems like we've never had in the history of our country. stuart: i pay attention to the man's demeanor. he was energetic as i said before, no slowing of words. what a contrast with the president. >> i think that's exactly right. for those who criticize cnn or donald trump, tried to have joe biden or kamala harris go to the same. they'd never survive it. this is donald trump at his best, he thrives in the chaos and answers any and all questions and gives you a direct answer. you may not like it but he will sit there and take the ques questions. joe biden, catholic harris can't even comes close to it. stuart: i expect it will grow as president biden looks worse and worse in the crises he's created. what you say? >> with donald trump walking in the room, they gave him a standing ovation, thrilled to

see him there and a bit the scene and people were melting down. he gave some answers, great cheers most people at cnn would say that's infuriating, you can't do that. he went off the rails, that's all you need to know. the template was for the president. stuart: aoc going off the rails, thank you for the great direction aoc alexandria ocasio-cortez giving trump a platform. >> administrative for that platform. >> i think it was her family irresponsible decision i don't think i would be doing my job if i did not say that and what we saw tonight was a series of extremely irresponsible decisions us put sexual abuse they cannot risk and put that person at risk in front of a national audience and they could not have disagreed with more.

it was shameful. >> he's also running for the presidency. aoc did not stop there, cnn should be ashamed of themselves and lost control of his town. defenses of generally six and a public attack on the sexual abuse victim. the audience is cheering him and laughing at the host do you think you and regrets the decision to put the young anchor in front of an audience of 400 most the republicans? stuart: i'm sure anchors regretted that the management is probably pleased because ratings will be strong. one thing cnn doesn't have his ratings. >> the new ceo of cnn, a ratings grab attempt for him. stuart: an attempt, a new look cnn because the old look was a miserable failure. >> now putting popular republican out with the host in front of a public republican

audience. a lot of people are saying this boosted donald trump and killed cnn so among many people like aoc, it looks like a laughingstock among democrats. [laughter] stuart: what a shame. look at futures. we are down, down 200 points on the dow industrial. adam johnson is here. inflation reports, 2.3 -- four-point and consumer. wise the market down. >> in part wise down, half is disney. disney had subscriber losses so 100, fine but i think the larger question is why wouldn't the entire market be up with inflation going down as much as it is? i think the answer is because vardy moved past inflation. it's beginning to feel like yesterday's tory in anoka seems crazy because we been living and breathing it six months you can

only for so long what is going down and he realized was the next issue? the banks. stuart: recession, the election because if you look on the premarket this morning, western banks, we are looking at serious loss, down 23%. the whole market is rattled. that's the issue but i do think is a wonderful story just talking to emerge and that is blackstone apparently brokering transactions whereby the banks would sell the loans to large insurance companies who would agree to hold loans until maturity. recapitalize is banks and a vote of confidence flows aren't as bad as we thought because why would insurance companies by them? is a positive development, a great sign american ingenuity to

life and will happening outside of government. we don't need government to find solutions, we need innovation, great american companies finding solutions. stuart: the rally began in october of last year and continues at a modest pace and will continue. >> the most unloved bull market i've ever seen and i've been doing this a long time. below is in october. rhino speculative short position in s&p futures, the highest government and in the bronx. the pros and speculators are short bonds and stocks than they ever have been ever and they are doing it at the same time. i think eventually they will realize inflation is coming d down, the economy moving for forward. earnings weren't as bad as we thought, people are employed, i think you will have to cover and when they do, it will help stocks i own rebound and the people who have gone in and

bought loans will do very well. stuart: i like to hear that. thank you very much indeed. coming up, house republicans had to divide nine members biden's family. the media, pilots. governor ron desantis signed onto a sweeping immigration law. move any incentives migrants have to go to the sunshine state. congressman -- he's here on that next. ♪

market going up and the dow down this morning. the problem with western banks being sold off and that's

affecting the whole market. stopped down 200 at this time. title 42 expires midnight tonight. order agents say a tidal wave of illegal migration has already begun. bill melugin in texas joins us. mass releases already underway? >> they are and we are likely going to see the largest wave of mass releases this country has seen in the coming days. migrants are showing up in massive numbers because they know title 42 drops tonight which is a policy has been used millions of times to expel them back to mexico. our team showing enormous amount clothing, trash and rubbish tossed aside by migrants for the course illegally and a major hotspot here you can see how big it is stretching all over the place and you will find ids and paperwork all over the world as well as mexican humanitarian

pieces before they ever get to our border they have to cross and mexico first and mass issue humanitarian pieces that allow them to travel in mexico right for our border and wants to come, they throw paper down because they don't need them anymore. keep in mind illegal crossings already at record highs without title 42 dropping. at the edge of the river here you can see masses of migrants gathering waiting to cross illegally, some in the water already. a constant steady stream of people arriving on the mexican side of the river waiting to cross, some of them with grass and some bringing the children with them. there's no resistance whatsoever on the mexican side of the river what they do cross the u.s. side, the only resistance they see is from the state of texas, not the federal government. the texas national guard put up razor wire and soldiers entering

the united states. 10000 apprehensions monday and tuesday this week, highs numbers ever recorded and border patrol is sounding the alarm. they tweeted failed reports from the seven border verify enormity of them coming up. it's completely out of control. massive releases getting and it's going to get much worse. thanks, biden. back out here live, i've been talking with the vp and border patrol, the administration's biggest priority is avoiding images of overcrowding so there focuses process, process, practice as quickly as possible and they tell me they are likely about to see the largest amount of mass releases this country has ever seen before in the coming days. stuart: thank you, bill.

florida governor desantis signed immigration bill, it provides $12 million to relocate migrants. two democrats. a republican from the great state of florida joins me now. what happens when migrants flood into america? some states and cities try to keep them out? >> what happens is migrants are going to end up in the states and cities that embrace him and sanctuary cities i would assume since they have their sanctuary. stuart: in florida, are they going to be identified and taken

out of the state? >> i'm not sure what the law says. that's a federal issue. it's our responsibility, it's unfortunate the federal government is not taking responsibly for the things it needs to take responsibly for and states have had to take matters into their own hands. that's part of the problem or that is the problem the biden administration is doing absolutely nothing to protect america. president biden is completely negating his obligation to the american people. his obligation of the american people is to protect us in his administration is failing miserably at it but he's doing it on purpose. all of this is on purpose, make no mistake, it's exactly what he wants. what used to be a battery will turn into a nightmare with title 42 coming to an end. stuart: i want to deal with another issue. president biden setting a memo

to border agents and wants to begin releasing migrants into the u.s. now but there's no tracking and no court date. >> that's correct. shelters and border towns are completely filled, overcrowded, overwhelmed so the administration authorized border patrol sectors to begin mass releases of migrants. the policy removes tracking mechanisms and chicken requirements for future asylum so they don't have to appear. just released at bus stops, gas stations or whatever to take them to shelters but look at the ramifications. stuart: congressman, this is an invasion. >> completely against the law. the law says migrants who come across the border are supposed to be either detained or held in another country until they get there is have them hearing. i just releasing them, mass of

people being released, not even knowing where they're going or where they are, it negates the asylum hearing process which is complete violation of the law so this president does what he wants to do. this is exactly what he wants and is started the first day he got into office reversing all the policies and now he's saying we don't have enough resources. we can never give enough resources. so what the heck? this is all on joe biden and his administration. stuart: thank you for joining us, very important. futures suggest for the dow industrials 200 points loss western banks setting the dow and some other stocks, too. opening bell is next. ♪

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5% yield, six-month treasury yield. 5.08% interest in one year. pretty good i'd say. david nicholas, a credit question. why are treasuries yielding more

than corporate bonds? >> it's pretty fascinating with the bond market, you mentioned august treasuries which we owned building over 5%. six-month treasury, one year healing four and a half but corporate bonds, and so fascinating. take walmart, yielding about 3% for the same. microsoft which is a name you love, yielding 3.3% so what does that tell the market? is saying the market believes microsoft and walmart are safer best in the u.s. government. if that's not a rebuke to politicians in washington, they let this battle too far out of control growth is because of the deadline so the bond market is signaling warning signs though the market is not but the bond market is. stuart: producer price index coming down little, consumer price index coming down just a little, moderating inflation just a little, why isn't the

market reacting more positively? >> you're right, ppi prices came down from a look at the food and energy down for the 14th consecutive month. when the market is not having a sellout, it's good news in this environment but i'm watching the bond market, yields falling so it's telling us alike with the bond market is telling us, inflation is coming to an end and there's a lot of these errors waiting for the sky to drop. we are going to see it. i don't think we will see it. inflation coming down and we don't need a sellout for the market to tell us things are okay. for the market to hold these levels, it's pretty bullish. stuart: you'd start to put more money back into stocks? >> i'll tell you two names. monday we brought cruise ships, carnival and caribbean, you will like cruise ships if you're bullish on the u.s. economy. we've been telling clients, fly on pullbacks and some people are

upset saying your being naïve, markets but you want to put money to work and i think that's where investors go. stuart: and never thought i'd see the day 2023 cruise ships with the investment for you but there they are and they are doing well. thanks for being here, it's a big day in politics and might be a big day on the market. opening bell loading and 20 seconds -- actually, ten seconds. it was ten seconds before the opening of trade. but we are going to be down at the opening bell. rumbling along the western bank not being sorted out entirely. disney is going to be down so them to has been affected. dow opening now with the loss of 150, 180 points roughly half a% but that's not by any means a major solo. bottom right-hand corner, is

think about the biggest loser now $6 and $94 a share. susan will deal with that in a moment. look at the s&p 500 benefaction, .1%. look at the nasdaq, it's a perfection, .14% because some interest rates are falling. big text, off of that, amazon, meta, apple up. microsoft down $3. let's get to disney. susan is here bailing us out. a big drop. this is about strivers? >> unfortunately. counts for half of the losses on the dow and looking at record streaming losses of 4 million for disney+ subscribers instead of adding what was expected of any 1.7 million. they reported narrower losses at disney+ because they raised prices. they lost 200 million less on streaming as a result hulu into the disney+ later this year end

you know what that suggests, probably hulu and by comcast for the whole thing and that will cost a few billion dollars but also concerning you look at the television sales, added revenue plummeting so they made $1 billion less from television, parks were strong as expected. 35% margin we go to disney world and disneyland so they brought in $7 billion plus and a lot of people say they benefited from disneyland reopening. the centers on the earnings call he said it was retaliatory action for the photographic which they will continue to fight and delaying productions and they will raise prices again for disney+ and ad free tsr expect 1099 a month. [laughter] stuart: watch out, here he co comes. let's get to the big stuff on reasonably with them on the screen, you can see pressure,

tactless 26%. >> tactless said there was nine and a half%, positive flight for the week of may 5, $50 billion with cash on hand withdrawals but that's not enough to cover silicon valley bank run for people are rushing to take the money, the stock is down 40%. this month 40% this month, down 70% this year and they along with question alliance both said there was no deposit flights, first report was will to j.p. morgan to this turnaround, you wonder where it's coming from. stuart: adam johnson said flaxen buying the loans so the banks get cash but that's not been on the market. >> apollo and blackstone fitting for silicon valley bank left permanent and most people attacking regional banks 40% of

commercial land loans and is anyone going into the office one 100% of the time? that's a big concern. stuart: microsoft, i'm told they are skipping raises for employees even -- 160 billing and cash they paid out a lot last year to cover the budget for bonuses and pay hikes so this year like a lot of companies across silicon valley, there will be no seller increase for full-time staff. the companywide e-mail said slower economy and higher rates and artificial intelligence means money is tight. microsoft cut around 10000 jobs last year but is similar to my conversations across the valley of the you work at that, google, amazon, companies cut thousands of jobs just in case. stuart: used to be so full of parks. talk about google, they been announcing plans ai.

stock is up two and a half%. >> i was watching the google i owe developers conference two or three hours in the reason why wall street is reacting like this is they are relieved google's core search is that accounts for three quarters of revenue, will likely survive battle between microsoft with check gpt so search will be offered pretty soon, they had a demo yesterday. the only the usual google search bar at the top, you have google official intelligence giving other suggestions, extra info you will likely ask next so i'm going to make a trip to australia, it will tell you what the weather will be like during the time you're visiting. it's kind of smart so they are rolling out 3d real-time street maps which i found interesting. ai powered e-mail and coding capabilities. photo editing and the new foldable pixel $1700 pixel

phone. it was actually $1800, 1799 but with google getting into the foldable phone, smart phone maker not to offer foldable which i do think is that, i don't see stuart varney buying foldable phone. you could get two phones for that. stuart: tell me about weight watchers. john 14%. >> larger shareholder shared the company, or to talk about sonos because it's an interesting stock decline because home speaker maker and continuing to report some week results. expect losses and a lot of people think with the traj trajectory, it could be a takeover offer for a larger company, maybe apple, maybe microsoft which is 60 billing dollars in cash. stuart: done 21%.

you very much indeed. this was coming up the rest of the show, it's going to be a big show. democrats starting to worry about 2024, they say they are getting sinking feeling trump could be five in the rematch. is it time for biden to ditch the basement strategy? if he does, isn't that dangerous? heading to the border, he wants to see firsthand when title 42 expires. the senator is next. ♪

if you're looking at the door and does her own 300 points, some of that is accounted for by disney which is now -- microsoft on $3. much more moderate. get back to the border, shoulders and apostle flat out

overwhelmed. i guarantee people work in the shelters are angry. they? >> absolutely. no room at the end and the island of the southwest. >> running on fumes because of the number of people but since we don't have the information to prepare, it makes things complicated. >> we haven't been able to take deep breath for about two weeks but we don't know what tonight is going to bring. >> very overwhelming volume we are seeing right now. the system is being overrun, systems are being overwhelmed. >> apostle has 2000 migrants camping out on the streets in front of the church, sacred heart church. 800 shelters are opening, maybe the convention center, insane. hundreds of thousands of migrant are on the way. they feel invited and invincible

when they get here and they don't have accurate information. they are being asked to use an app to check in for an appointment but the app doesn't work. many don't have a cell phone and if they do, they don't have service so how can i use an app that constantly goes down? it's a disaster. stuart: my heart goes out to those folks. a long journey, don't know where they are going to work will greet them when they get there. at the same time i'm angry at the administration for allowing this cruelty. they opened the door, they invited them in and they've done nothing to stop it, having it all. >> hugely popular tik tok video telling the migrants to come on in, no problem. in accurate information, some people in the shelters were saying they don't even know their rights, they are getting information about their news is often drug cartel. stuart: how many people watch the tik tok video saying the waters are good, come back in?

>> i heard 96 million. stuart: good stuff. press secretary john pierce's republicans refused to act on the border. >> dealing with the system broken for decades, since day one. he put them forth a plan, legislation and he's using the tools to deal with what we are seeing at the border. publicans refuse to act. they refuse to come to the middle and meet us at the middle income up with a real solution. stuart: republicans roger marshall is joining us now. mr. senator, republicans refused to act. would you deal with that, please? >> americans know better,

another lie from the white house. the president controlled the white house, the senate, the house and never brought a series bill. joe biden wants this problem, he thinks they turn into voters for his party, willing to sacrifice 300 million a day i'm from fentanyl poisoning and think about this, there's 170,000 people waiting at the border to get into the united states. that would be the third largest city in kansas and our systems are overwhelmed, offender three times and have done humanitarian work, as a physician i've never seen a worse situation in this hemisphere, a tragedy joe biden owns this, he created this humanitarian disaster. stuart: it seems like the border is moving north like it's the state line and city line at the border because they are trying to ask folks to different states

and cities and some are saying no, we can't take this, we can't cope. tennessee crashes coming of the state or city line as the people have turned away. can you see this coming? >> absolutely and communities are going to. americans have a chart but take my community, 15000 people. if we had 100 refugees today, it will be stress on our resources but to help thousands would be next to impossible and of flight the state of texas activates 10000 guardsmen and there are going to build to control the problem. the president could have preserved of this controlling the border. this is the number one national security issue threatening america today. stuart: can you just look down the road to the end of summer, labor day? what is america going to look like at the time?

>> if we have ten to 15000 people crossing our border every day now until labor day, what type of the stress would be on the system? we feel for these people but a concern saw so much human trafficking, i've been at the border before let alone convicted criminals coming across the border along with fentanyl. again, i bet we will see number of fentanyl cases double, addiction woke up as well and simply a stress on every community. joe biden needs to turn off the signal saying time to come. joe biden needs to stand up, i don't know how he sleeps at night. stuart: roger marshall republican kansas, thanks for being with us today. i believe you're going to the border later today, is that accurate? >> yes. we will be there this evening, i want to get border patrol officers word of encouragement and thanks, it's a battle zone down there. stuart: thanks for joining us today. appreciate it. i want you to listen coming up,

listen to what, president tom's solution is to bring down inflation. >> if elected president again, was the first thing you do to bring down the cost to make things more affordable? >> drill baby, drill. [applause] stuart: i figured he might say that. more on the trump town hall coming up just for you. calling on serena and venus williams to come out against transgender athletes and women sports. as she got a response? riley gaines is here after this. ♪

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and our success stories are real. why not give it a try? i've got a tweet for you. riley gaines calling out prominent female athletes. she wants them to take a public stance on biological men competing in women's sports. riley joins me now. he started with serena and venus williams, what you want to hear

from them? >> i want them to be pressure to take a stand. i could understand last year around this time for the lia thomas brought this, i can understand sponsorships as good of a counterculture but a year past that, i don't have empathy for that. women are dependent, girls love depending on women with platform and influence to take a stance so changes can be made. stuart: you don't know whether serena, you don't know where they stand of this, he just wanted to take a stand, is that accurate? >> correct. they come out before and have said, acknowledged the differences between men and women especially when it comes to tennis and i think it's worth noting both lost in a blowup to the 200 and third-ranked player. stuart: what's the status of transgender athletes in the olympics? the olympics are coming next year i believe.

the status of transgender folks mixture? >> i believe the ioc is taking the approach where each specific words governing body will have the overall say in what happens in each sport. so swimming, international governing body, prevalence of said you've gone through male puberty, you cannot beat with women and same thing with world athletics we saw a few weeks a ago, world athletics called the model essentially said the same thing, i think the cutoff age is 12 if you've not transitioned by the age of 12, you cannot in the category opposite of your sex. we went are you comfortable with those points? >> no. i think while a bold first move, asking anyone to transition by the age of 12 before puberty, that's asking someone

essentially to commit to lifelong implications you can't possibly understand at that age so i do think there are caveats in their guidelines. stuart: okay, we've got it. thank you for joining us. a difficult subject but i think you will be in the news a lot in the next few weeks and months. we will bring you back. thank you very much. >> absolutely, thank you. stuart: we are learning a lot more how much bud light sales have fallen in each region of the country. obvious question, where did they fall the most? >> the rocky mountain area where they found 29% but look at this, the entire country down double digits including 18% decline in california, oregon and washington state and 14% in our parks. major backlash. stuart: look at that map, no relationship to democrats and republican states. bud light sales are down everywhere. >> it's not just bud light, anheuser-busch is brands getting

caught up like blood, regular blood heavy sales are down. hsbc downgraded stock, they said the marketing blunder is crisis and the problems are deeper than they are admitting and you remember the old budweiser commercial blood, why? with the frogs? the guy in charge spoke, robert lackey now gripping his former company and the management team there for not only the best call using dylan mulvaney for their advertisements but also he says a complete lack of corporate oversight in doing so. stuart: still ahead, border patrol council president, brett baier looking into the biden business and why is there no media coverage? arizona candidate, mark lamb. ♪

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