tv Varney Company FOX Business May 11, 2023 10:00am-11:00am EDT
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york city as the backdrop. not sure i know this song while. lauren: if you plan to the right you will see the building in the background. stuart: they are taking a chance i don't see the underground -- good morning, 10:00 eastern. we have the dow industrials down 383 points, one hundred points of that loss accounted for by disney anti-microsoft. bottom right-hand corner of the screen, all 30 dow stocks are down. regional banks, there's a problem for pac west which is still down 18% of the 10 year treasury yield coming down to 3.36%. that a big movement bitcoin was around 27,000 and is still there. that's the markets, now this. if you are running and influence peddling scheme you want to keep it quiet, don't be
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the guy who takes the money, the paper trail is a dead giveaway, you get caught. instead, the money is funneled through a tangled financial web to family, trusted friends or business associates. that's a good descriptor of the biden family business, family got the money, no direct payments to the present, that is what bill clinton used to call plausible deniability. it worked, 0 coverage on abc, nbc or cbs. the print media ignored it too. they are still in cover-up mode. look what they are covering up, 9 family members received payments including 3 grandchildren. we do not know what they did to get the money other than being related to the president. disturbing the money was complex. representative of a chinese company, associative hunter sent million dollars in 16
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separate transactions through 5 bank accounts all related to the biden family. we are asked to believe that president biden knew nothing of this. that's a stretch. 's granddaughter gets a check for $75,000, nothing suspicious about that? never asked about it? we are asked to believe he said my son did not make money from china but he did and the bank records show it. what we a president overwhelmed by the problems he has created at a media still engaged in election interference. second hour of varney just getting started. former governor of arkansas mike huckabee joins me. the bank records do not lie. what happens now? >> this whole thing stinks worse than a chicken house, this is unbelievable.
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the only thing i find more disgusting than the corruption of the biden family is the lack of curiosity on the part of the press, total ignoring of these facts, granddaughter dating $75,000 for what? i'm thinking of becoming of one of joe's grandchildren myself to get in on the gravy train. this is absolutely astounding that the corruption is the level that it is in the media could care less because they want to be part of the cover-up. stuart: it is election interference, isn't it? they wouldn't cover the story before the 2020 elections because it would have damaged biden, they won't cover now because it damages biden, that election interference. >> that's exactly what is. i hope there is -- 5 of the federal election commission, would be a stretch, but it would bring some attention to
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the fact that the television and newsprint outlets are essentially giving contributions to the biden campaign by ignoring a very real and significant story of corruption at the highest levels of the government. stuart: former president trump joined cnn for a town hall last night and ripped biden on a number of issues. got a montage for you. >> if elected president again, what is the first thing you would do to bring down the cost to make things more affordable? >> drill baby drill. >> do you agree with deployed troops to the border? >> you will have millions of people pouring into the country right now at a level nobody has ever seen before, living in central park in new york city, the city is being swamped, los angeles is being swamped. i were is being swamped. >> how would you deal with the increasing threat posed by flat report and? >> i will have that more settled in one day, 24 hours.
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stuart: i don't know about settling the more in 24 hours but what struck me was how vigorous trump looks compared to biden. >> at the contrast i can't wait to see on the debate stage. imagine the two over them, joe from. with his words, happen to be let off the platform because he doesn't know which way to turn and what you saw last night was a command performance by a person in control of his thoughts. let's be fair, the people who hate trump hated him even more after that event last night on cnn but the people that were questioning is trump capable of doing this job, that got a race last night. they see a man whose tough, forceful and this is the key, who is fearless and the one reason i think donald trump is writing in the driver's seat and all the polls, primary and general election is because americans want someone who is
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fearlessly willing to march right into the place where angels fear to tread and take down the deep state. is the only one who can pull this off. stuart: thanks for joining us. now, some democrats don't want to see a trump/biden rematch in 2024? lauren: they think biden will lose and are admitting it in the mainstream media. trump is formidable as you saw last night, whether you're just -- agree or disagree that is what you saw. biden lacks urgency and passion. this comes from the hill, the first one, democrat strategist falsely think they can run a bunch of ads talking about crazy donald trump and that will work. the new york times is worried there is no organic enthusiasm behind biden or his new reelection campaign. that's one of the reasons biden won in 2020. there was so much enthusiasm against donald trump that biden
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won and some of those voters having buyers remorse because look where we are. stuart: fascinating, will we see a rerun? >> it is a long way away and anything could happen. stuart: 18 months. the blink of an eye. lauren: that is an eternity. stuart: senator feinstein returned to capitol hill. if she back to a full schedule? >> no, she's in a wheelchair. she cast two votes but missed two others and put out a statement, made significant progress to return to washington, still up experiencing side affects. affect. the doctors advised me to work a later schedule. i am hopeful those issues will survive. she's 89 not running for election. stuart: thanks, let's get back to the markets, dr barton. why is big tech leading the markets? big tech is leading the markets, why?
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>> it has been because it makes up so much of the indexes, that's one of the reasons, the top five stocks, over 15% of the s&p 500 so the markets naturally follow them that investors are naturally following them because a lot of revenues for our country are going into those big tech names. amazon, huge numbers, all of them, amazon, google, alphabet, big numbers being drawn to them and they, even if they slow down a little bit which they admittedly have, still the biggest game in town and still doing quite well so far. stuart: if you look at western banks, they are down this morning and so are the big numbers, not as much as the original banks but all the banks are down. that's a source of concern for the overall market, isn't it?
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>> absolutely and that's one of the biggest reasons in addition to the disney streaming numbers you've covered so well this morning, one of the big reasons we are having some bumps here this morning, because people are looking at that and are not feeling comfortable. they say we had four banks that had failures. are we going to have more? it looks like we will. will it be contained? adam had some good thoughts but it got investors on the edge of their seat every time something comes out of regional bank. stuart: in the past you've done well with your stock picks. i remember lockheed in particular, did very well and nvidia you are onto as well and that did well. give me a stock pick now that will do well in the near future. >> i gave one in my notes today that i like on this big pool
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back. on mining company called saturn copper. this stock is a you are play going a about 4 and a 1/2%, 5% dividend. keeping up with inflation, you can buy it at a big discount after the last couple days of pull back and i think it has some upside at the end of the year especially when we get back to thinking about something smart like infrastructure, investing as a country. that is one to put on your plate, a good pullback for longer-term. stuart: we will watch it. see you again soon. disney is the main mover of the dow industrials, down 8%. what's the story? lauren: shedding 60 points from the dow jones, another quarter, disney lost 4 million more disney plus accounts in the
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quarter, because they hiked prices by 40% at the end of 2022 and they did not suggest things are going to be better with streaming. stuart: these -- can never remember, up 8%. >> is popular again, coach is popular among the chinese, genesee and millennials because they have something called coachtopia and when you're green at positive. stuart: i think of coach as democratic luxury. lauren: i like that. lauren: is this democratic luxury? stuart: down 5%. lauren: the seat posts can break during a ride. stuart: they were a pandemic phenom. lauren: i never got one and don't regret it. stuart: john kerry is going
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after farmers. he says agriculture production, too much greenhouse gas emissions, we've got the story. new york city mayor eric adams could be facing the other battle over his plan to send illegal migrants to surrounding suburbs. the mayor says he has no choice because the city reached its limit. as title 42 expires today, shocking video shows massive numbers of migrants illegally crossing the border with thousands more on the way. vice president will give the latest developments from the border next. ♪ with just one card. chase freedom unlimited. so, if you're off the racking... ...or crab cracking, you're cashbacking. cashback on flapjacks, baby backs, or tacos at the taco shack. nah, i'm working on my six pack.
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stuart: reading on the dow, s&p and nasdaq, the dow is down 356 by hundred of those down points are accounted for by disney at microsoft, mayor eric adams says the city has reached its limit. he suspended some of the rules that require the city to shelter asylum-seekers, wants to send them to new york city suburbs. are they fighting the plan? >> reporter: we are in rockland county and they are fighting the plan and seems like so far it is working for them. last night new york city mayor's office announced it's going to put a pause on plans to send migrants from the big apple to surrounding suburbs, for now for the press person for the mayor's office released a statement saying, quote, we are discussing legal and safety concerns with our state
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partners and why we have pause, tonight, our plans have not changed, that pause comes after a tense standoff between mayor eric adams of new york city and local executives, the county executive for nearby orange county saying the discussions with mayor adams leading up to the decision to pause were, quote, very heated. at this point there are three counties the declared states of emergency, orange county and rockland county, temporary restraining order, for accepting migrants and that is setting the stage for a court battle next week, it offers short-term relief for one local resident i spoke to earlier today and he says a long-term solution is needed. listen to this. >> problem is with these open
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borders, we know nothing about these people coming into this country, their health, vaccines, status, general backgrounds. are they criminals? nobody knows. >> reporter: for now know migrants at the armani in, we don't know when or if they will be arriving today. the plan is on pause, has not been abandoned, there are sheriff's deputies in the parking lot, seems like we are waiting to see the latest throughout the day. stuart: we will be back to you later. the vice president of the national border counsel patrol council and joins me now. we just heard another 10,000 migrants were apprehended wednesday. that means monday 10,000, tuesday 10,000, wednesday 10,000, you are at the border. could you describe what it is like right now? >> beyond chaotic and
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frustrating because we have agents that joined the agency to protect their borders and now their duties have been minimized and that's on the administration, instead of securing the border is processing individuals faster knowing they have to release them into the united states, don't know if we will ever hear from them again. those that are making out like bandits is the drug cartels once again knowing they continue to bring drugs into the united states. stuart: let me add to this, the administration authorized border patrol to release migrants without court dates or anyway to track them. that a serious thing because you don't know who is coming in. they are just pouring in. that's beyond chaos. >> extremely ridiculous but what happens when you have
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individuals, political activists and not real law enforcement agents or people involved in law enforcement running the department and law enforcement individuals within those departments are frustrated because they have to listen to commanders of the people who are retired that actually have no clue what they are doing at this point. stuart: what happens when floods of migrants, tens of thousands arrive in every town and state in america, what happens? >> that's where everyone will face the reality, everyone talking about sanctuary cities in getting there political positioning, everyone is welcome but you got to realize you can't leave your front door open, people take everything you own and that is where we are. stuart: there are some municipalities and states which say we don't want anymore, we can't cope. can you see clashes coming on
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the state line with police officers saying no to the bus is arriving from texas, can you see that happening? >> that is always something the back of everyone's mind, the violence that may come with it. the administration could stop this today, put the proper policies in place, individuals coming across, send people back who are not going to do that. stuart: they couldn't do it just like that. there are so many people rushing the border they can't close it. >> they could put in policies and detain people and that will determine number of people, the only reason people come is they will get released. stuart: thank you very much for being on the show, i do appreciate it.
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come en in. here's a question for you. what's this about biden's labor nominee telling her staff not to cooperate with ice agents? ashley: good morning, acting labor secretary julie sue was head of california's labor commission she told staff not to cooperate with ice agents searching for undocumented migrants according to a memo uncovered by republicans, she was challenged about at a hearing before the health, education, labor and pensions committee and she said she didn't recall the precise content. the memo shows that she told workers to document all interactions with ice agents and refused to give them information that could help them to find the person they are searching for looter nomination appears to have hit a roadblock after making it out of committee on a partyline vote. some democrats are unsure about
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whether to confirm or not and it is not clear the senate will hold a floor vote but the record proceeds the memo. stuart: now this. former cia director john brennan will be on capitol hill. he will be grilled on a letter he signed the downplayed the hunter laptop story. david spunt has a report from washington. the white house says they will expel reporters if they don't act in a, quote, professional manner. what about the first amendment? washington examiner's interim chief take that on next. ♪ ♪
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century lithium is advancing their clayton valley project towards production, with the goal of becoming a domestic lithium producer for the growing electric vehicle market. nevada's lithium is the key to america's green future. century lithium stuart: the dow is down 345 points, nasdaq town 13, s&p down 20. worries of regional banks coming back and hurting the overall market. look at microsoft. they are down $3, they were down more than that. lauren: the freeze on employee
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salaries is a slowing economy and google's aie event yesterday, google putting ai in everything, word salad of an event, you can use ai for this, for that, different name for all of it but it shows they are competing in a race with microsoft. stuart: i see some commodity companies down. copper companies. freeport mcnamara and. lauren: halliburton down 4%. economy slowdown fears, they are taking down the producers of metal, oil, you name it, economy slowdown. stuart: would also we got moving today? lauren: roblox snack two analyst upgrades, they like the opportunity use for advertisers. stuart: former cia director john brennan is on capitol hill, sitting for a closed-door interview on the 2020 letter
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the downplayed the hunter laptop story. david spunt in washington with me now. what can we expect? stuart: we know this will go a couple of hours. it is a transcribed behind closed doors interview but it is significant because john brennan was one of 51 former intelligence officials who signed on to that letter a few weeks before the presidential election. let's get some video, the former cia director walking into the hearing room where that transcribed interview will take place. the producer asked if he had anything to say, brennan signing the letter that proved not to be russian disinformation. in a letter the former intelligence officials downplayed the existence of the hunter biden laptop. those official to sign on to the letter wrote the letter to help the biden campaign. republicans and democrats on
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the committee can be present and ask questions. next wednesday the former director of national intelligence james klapper will make his appearance before the same committee, the appearance comes a day after the end 3 i missed a deadline for 1023 record of an interview with a confidential source. republicans in congress say a whistleblower told them one of the forms has an allegation that then vice president joe biden accepted money for a policy decision. the fbi did not provide the form in question but did write a letter to republicans and issued this statement to fox news, quote, fbi agents record unverified recording by a confidential human source document thing the information, way and other information verified by the fbi. senator chuck grassley said the fbi failed to produce the specific document to provide accommodation process for our the judgment request indicates the document is real.
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christopher ray would not confirm or deny the existence of the document but says the fbi will work with the committee. stuart: take a look at this. m covering that report on the biden family members. the editor-in-chief of the washington examiner joins me now. here's my position was the media is again interfering in the election. what you say to that? >> there is comfortable in curiosity on the part of the media. we know this is been going on for a long time but the great majority of the news media side with democrats and the report you were just giving about the 51 intelligence officers downplaying or trashing the hunter biden laptop story deliberately to help the biden administration was played out by the media and the media used that to ignore the legitimate
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story. the news media are on the side of the democrats and will distort things. they are interested in the hearings that have revealed a network of biden family recipients of money flowing from romania and china and in the case of china is coming from a front company for the people's liberation army so the idea this is an interesting at not worth reporting on our covering is an extra ordinary one. whether this is in the long-term the media want to help democrats win elections, you could say it is election interference which i would put it lower than that and say it's part of the constant undertow of bias in most of the media. stuart: you are right on that one. the white house is changing the rules for journalists. i think this is related to the new york post reported being kept out of the white house press room because he always asked questions about hunter.
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in future they will expel reporters if they don't act, quote, in a professional manner. that seems to me a first amendment issue. >> it is a first amendment issue. this matter was adjudicated in the last administration. i had some sympathy when jim acosta did his cheap theatrics in the briefing room and there's always the danger reporters will act up and not be professional but there's an equal danger that the administration will decide reporters are asking questions and not acting professionally but when the matter went to the court in the last administration the court sided with the journalists, journalists were allowed to stay in the briefing room. it is a constant tension between the two. the constitution sides with free-speech. stuart: i get the impression
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that some of these big issues like the border, title 42, hunter biden are so big, so chaotic, so important they are beginning to make an impression on voters at large, not just people like us who follow politics newly but a broader population and it is a negative for the administration. >> i agree with that. i would say there's been a widespread concern about these issues. inflation and the economy on the one hand, the border as well and for some time and these have been obscured and deliberately played down by many in the media particularly the border but they've become so big particularly with the ending of title 42 at the border, the loss of that extra means of excluding illegal immigrants.
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i think there is considerable public concern and the polls reflect that and that is why president biden is at his lowest level of his presidency in public approval and something like 2 thirds of the public don't think he's fit to run for a second term. stuart: a pretty damning two thirds if you ask me. thank you for joining us, don't be a stranger, come back soon. vice president harris struggling to gain support among her own party. tell me more. ashley: the vp having problems getting good grades among key demographics notably democrats. and 3 quarters of democrats approve of harris's job performance but that alone mark among the party. significantly better we should point out than 36% approval she gets from independents and 15% from republicans. her numbers having proved since
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the start of the year among independents where she has gained 6 points, republicans up 7 points but among democrats she's down four points since january. the biden campaign posting a video on twitter where a new national advisory board featuring 50 prominent democrats are touting team biden/harris. >> i'm on team biden/harris. >> team biden/harris. >> joe biden has been a steady hand. >> team biden/harris. >> president biden. >> i'm gavin newsom. team biden harris. ashley: nancy pelosi will chair the new advisory panel. that panel will help with fundraising. as it stands biden facing a long shot primary challenge
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from marianne williamson am environmental lawyer robert kennedy junior. and a commanding lead over both in national polling. stuart: i will make no comment on the rogues gallery you mentioned. thanks. the white house claims republicans are the ones making the border crisis, roll tape. >> congress refuses to act. many republican officials want to make a political case of this. they are not looking to meet us at the table to deal with this issue, they want to turn it into a political stunt. stuart: why are republicans voting on a border security bill today? house republicans say nine biden family members received millions of dollars from foreign nationals. if you are not watching fox news yesterday you would not know about it. the mainstream media turning a blind eye to explosive claims,
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stuart: house republicans found the nine biden family members received millions of dollars from foreign nationals. that includes a one million-dollar payment to hunter when his dad was vice president. any serious developments? the media suppressed it. >> the shoe on the other foot this investigation with democrats on the trump administration, if you look through that, there are nuggets
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here, substantial things to follow up on. what was the business that provided this money and what were they providing? did each of the family members file tax returns with this income? there are all kinds of questions. it is not the end of the investigation. it is in the middle. we will continue to follow it. stuart: it is going to go on for months to come as information comes out. that's a political negative for the president as he goes forward. how much of a negative i don't know. >> if a tree falls and nobody is there to see it did it happen? i think it will get covered eventually but it will be in spots. the republicans want something substantial to come forward. they laid the case of what they
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are looking at but the testimony from whistleblowers. stuart: we are dealing with gigantic storms including lifting of title 42. the white house once again claiming that republicans are refusing to act on the border crisis. >> we put forward a comprehensive immigration plan. republicans refuse, literally refused to act. this is going to make the situation at the border worse. what we see are political stunts and we want to deal with the situation in a real way. stuart: i don't get that. republicans are refusing to deal with this? can you explain? >> giant comprehensive immigration reform bill is not being moved forward. republicans have done number of
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things including hr 2 they are working on for border security specifically today. what is left out of that talk is the beginning of the biden administration taking away certain things, for example to remain in mexico policy which would have solved a number of things as far as the border, welcoming candidate biden on the campaign trail to come on and the mixed messages sent to immigrants to get to the border. it is disingenuous to say it falls in congress's lap. stuart: i don't know if you saw the trump town hall on cnn. regardless of the issues that were brought up, what struck me was how vigorous donald trump still is in contrast to president biden.
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>> he is on his game, you can disagree with him and not like him but he's got a lot of energy and pushed back in that town hall. there were a couple things that raised eyebrows especially on capitol hill, the us need to default, trying to negotiate behind the scenes, the ukraine answer, want to stop the deaths and abortion was nebulous in his answer specifically but he is clearly on his game. two campaigns, the trump campaign in the biden campaign. stuart: going to watch you tonight, special report at 6:00 pm eastern on fox news, see you soon. robin hood is rolling out a new feature that will let investors trade 24 hours a day, five days
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a week, details coming up. carl icahn's investment from under federal investigation. a short seller excused him of a ponzi like scheme. ♪ 5l into a burning ring of fire ♪ i went down down down ♪ and the flames went higher ♪ it burns burns burns ♪ the ring of fire ♪ the ring of fire ♪ we really don't want people to think of feeding food like ours is spoiling their dogs. good, real food is simple. it looks like food, it smells like food, it's what dogs are supposed to be eating. ♪
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stuart: markets coming back a little bit, not much. coming back a little. carl icahn's investment firm is under federal investigation. a short seller accused the company of running a ponzi like scheme. what is carl icahn saying? lauren: he doesn't expect this to have material impacts the feds are now investigating but it is having a financial impact. in just a week shares in carl icahn's hedge fund are down 36% since hindenburg research sure report on may 2nd. he says mr. anderson's modus operandi is to launch disinformation campaigns
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to distort these images, damage their reputations and individual investors. unlike many of its victims we will not stand by. stuart: tell as how you really feel. lauren: jack dorsey a lock and do you remember the promotional video? hindenburg accused the company of towing the truck up a hill and letting it go down but there was fraud and milton was convicted because of this but now he's going after carl icahn who is an activist icon. i just realized that. and attractive dividend, 18%. hindenburg calls that a ponzi scheme. he's been using money taken in from new investors to pay dividends to old investors.
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such economic structures to the extent new money is the last one. one analyst, jet -- jeffries, that is interesting. they keep it on the stock, by $27 to 44. stuart: carl icahn is a very unpopular guy. he was one of the green members, that was not popular back in the day. lauren: he is still feisty. let's get to actually. what is this about robin hood? ashley: robin hood says it will offer 24 hour trading of
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selecting stocks, 5 days a week. beyond traditional wall street operating hours, round-the-clock trading at 8 p.m. pm eastern to 8:00 pm eastern friday. including popular stocks like amazon.com, apple and toes low. robin hood says will roll out a feature next weekend all customers are expected by june and it plans to make more stocks of etfs available for overnight trading. stuart: you can trade premarket as the pros do. thank you. still ahead, former acting attorney general matthew whitaker's investigation into biden's business dealings. senate campaign mark lam on our is owner is dealing with the migrant surge.
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democrats want illegal migrants here because they see a crop of future democrat voters. this is the new reality. it is "my take" and it is next. ♪ and saved $652. they customize your car insurance, so you only pay for what you need. with the money we saved, we thought we'd try electric unicycles. whoa! careful, babe! saving was definitely easier. hey babe, i think i got it! it's actually... whooooa! ok, show-off! help! oh! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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