tv Cavuto Coast to Coast FOX Business May 23, 2023 12:00pm-1:00pm EDT
12:00 pm
i have a minute left. i have got to change the subject. we showed you the cairo therapy? you go into this thing, it is minus 160-degrees fahrenheit, you stay in two or three minutes you loset one of theset right? >> i've done the cryotherapy. >>s it it work. >> very short amount of time. it is freezing, they give you gloves and shorts. i went in there. >> shorts, great. >> no, i always stuart, was a cold plunge like an ice bath. stuart: how much weight did you lose in the cry crow thing? >> i don't know if i lost anything. i went for pick me up. four, three, time is up for you mike and ash. "coast to coast" starts right now. neil: all right. all eyes on those debt ceiling talks. welcome everybody, neil cavuto,
12:01 pm
i want to thank my friend, accomplished buddy, david asman in my absence. i ran back here he was doing so well, they forgot who i was. have you still for gotten? not forgetting big players who are giving money to politicians. they often times will switch horses in the middle. hal lambert, point bridge founder, ceo, been maga supporter, big supporter of donald trump. owe is is switching horses to ron desantis. florida congressman anna paulina luna, still on the donald trump side. wants him to be the republican nominee. i'm talking to her not as so much as trump backer but influential house freedom caucus that isn't keen on the some changes that kevin mccarthy could be orchestrating. risk some votes, lose others.
12:02 pm
let's go to the chad pergram. i believe respective staffs for both parties are still negotiating this out. where does it stand, chad? >> reporter: good afternoon, neil. they are talking but there needs toe probably be a lot more talking before there is a deal. white house aides arrived to talk about more today. >> any rest? >> [inaudible] >> mccarthy, still far apart? >> we're just going to work. that's all. we don't have anything else. >> reporter: richetti would not characterize how long the talks may go today. both house speaker kevin mccarthy seemed optimistic about the talks yesterday. but there is an impasse over spending. house republicans are holding firm, entitlements and defense are off the table. that means they're fighting over a sliver of all federal spending 15%. >> you're not close to a deal?
12:03 pm
>> look -- >> are you close? >> no they have, they still want spend more money next year than this year. that is a red line. we could finish the budget first in a timeline. >> reporter: but it's possible the house gop debt ceiling bill could handcuff mccarthy. at least 20 republicans would balk at anything besides the house bill. fox has told the gop may need 140 democrats, that means democrats need to score wins in the talks. the sides are getting nervous. >> i think a lot of us are, you know, a little shocked that we keep getting this close. 10 days, nine days, you know, this is, this is tough. this is not where we should be. >> reporter: the key is how many conservatives can mccarthy bring along and not do damage to his speakership. neil? neil: got it, chad. thank you my friend, chad
12:04 pm
pergram. another one he wants to keep on his side is all the key republicans including my next guest, florida congresswoman, anna paulina luna. she sits on the house freedom caucus as well. very influential making kevin mccarthy the speaker of the house in the first place. congresswoman, great to see you. >> thanks for having me back own, neil. neil: from what you've seen congresswoman, and from what you've heard, i know details are sketchy have you found anything to oppose? >> no. in fact i think our speaker is negotiating from a position it power neil. he championed. $1.6 trillion tax cuts only benefiting biden's wealthy elite. i have faith the speaker and his negotiators already told the white house to take a hike on 2023 spending levels. i want to reiterate we're united behind him. there is no talk about anything in regards to really, after him.
12:05 pm
i think he is doing an incredible job. i think he is going to secure a win for america. neil: there are one or two we're told, congresswoman, who plight not go along with this greet that got him elected speaker in the first place. all it takes one to remove him as speaker. do you see any problems among the caucus? >> no. in fact i've been in the internal discussions, let me put it this way, neil. you know if they're is a default, it is not going to be the fault of any one house republican. we did our job. it is time that this administration does theirs. up until recently biden didn't even want to negotiate with mccarthy. he didn't think we could get it done. we are empowering him, we are trusting him. as you know, neil, kevin mccarthy is a tough cookie. when it comes to him getting he wants versus administration i have nothing but confidence in speaker mccarthy. neil: the treasury general account is apparently down to the last 60 billion. i don't know how true that is.
12:06 pm
it was at 140 billion a week ago today. it is draining fast. if we are to take the treasury at its word. do you think we could default? do you think getting down to the final few billion, a bill or two might not get paid, technical definition of default paying interest to treasury bondholders? >> i'm very clear, if there is default there will be because biden and yellen chose not to pay interest in the treasurys. meaning they chose actively to not pay when wewell have money to do so in addition to paying for medicare, social security and the military. if biden wants to end this, he needs to call the senate and tell the senate to pass our budget. i'm not going to sit here coddle to the, bend the knee to the biden administration. neil. they're basically pushing these crazy incentives that are only benefiting their wealthy elite. meanwhile normal americans are completely getting screwed over
12:07 pm
by these terrible policies. we'll not negotiate with the future of this country. our children's economy. neil: you should hear what they say about you guys. let me go further, if i can, congresswoman, i know some of the sticking points you got into, i want to veer into politics because donald trump i believe who you are backing for the presidential nomination said in the infamous interview on cnn he was open to default and that republicans should hang tough. do you agree with that, default is an option? >> well, you know, we did our job and it is very clear this administration and biden up until really a few days ago wasn't even open to meeting with the speaker of the house or even taking us seriously. you know what? i think president trump actually crushed it on the cnn town hall if you want to call it that. it was very obvious that person hosting the debate was clearly not on his side but either way i think it is very clear that if democrats were in our position, there would be no negotiations.
12:08 pm
so to be clear we've done everything that we can do. i just hope america understands and realize this is administration has not been transparent about what's even really happening with our economy or what a default is even to the country. and so i think it is very -- neil: do you think americans would be able to discern, but do you think americans would be able to discern whose fought it was? we default, it is default and it is kablooey time, right? >> i have faith that they will. they have seen we've done our jobs. i've been telling you i've been doing everything on messaging and will continue to put the fact the out there for the american people. neil: real quickly with your support of donald trump what was the reaction of governor desantis who is expected to announce his own presidential run on thursday. what do he tell you? >> you know i have met with president trump. as you saw we had the florida delegation, most of the florida delegation are in support of hill. i continue to support president trump. i love his positions on foreign policy. i really think there is a lot of candidates that are jumping into
12:09 pm
this actual presidential primary so it is not just a two-person race. neil: so does that mean desantis is no different than some of these other alternatives? you don't place him any higher than some of the others? you. >> know i think that desantis is an incredible governor but as you know, neil, i support president trump for re-election in 2024 but i also think that tim scott had an incredible message how his story breaks through identity politics. i think at the end of the day the best candidate is going to win. i obviously support president trump because of foreign policy but i think there are some great candidates really educating america using their race to do so. i look forward to seeing the debates. i hope we'll hear from wisconsin. neil: congresswoman, anna paulina luna from florida, house freedom caucus member. very influential player in all of this, thank you. on the screen you see the dow anomaly up. volume is the -- as weigh on
12:10 pm
going talks go day by day. we're told june 1st is the magic time we run out of cash. does the federal government really ever run out of cash? luke lloyd with us, jay woods, former executive floor governor at the nyse, two very inflew wednesday players. jay, what the congresswoman was saying if it comes to the brink, we won't be blamed, republicans won't be blamed but she entertained the possibility it could come to the brink. what do you think? >> yeah. i think it will come to the brink. june 1st is the hard date janet yellen gave us. that is next thursday. the longer it goes the better sides have to posture against each other and whether you negotiate you try to push it down and get that last bit of sound bite that is going to make you seem like the winner, whether you're on the left or the right. yeah, they could kick this down to the last minute and maybe we come back and we get a little action in this market but right now we're taking it in stride.
12:11 pm
neil: the markets are really taking it in stride as he said, luke. they have been doing that as we get closer and closer to the deadline. so are they just sensing we've been this way before? it will play out the same way and we're not worried? >> the chance a deal gets done is higher than not getting done but risk of a deal not getting done this time around is high every than ever which can be seen with the credit default swaps in the bond market. that is the bigger issue and the story at play that you need to pay attention to. we are the most divisive we have ever been. you heard it on the last interview. democrats want to blame republicans, republicans want to blame democrats. i don't know a life where the government stops spending money. i don't know many people have. if you're younger than 54 years old, we had had surplus in our budget, call it a budget, four times the federal government brought in less than we spent
12:12 pm
since 1969. this is governance issue. the economy got addicted to spending that is the big story. it is not about the dead ceiling will be raise are or not raised. it is how we cut back government spending. if we don't cut back spend and don't care about the debt we can keep the that trade going for a long time. the line is being drawn. we can't continue going down this path that is the market mover in a long-term basis. neil: i don't know what the fed does in the middle of this gentlemen. i will raise this question with you. i try to get hints where the crumbs are going when the federal reserve, i believe st. louis fed president james bullard had said he would back two more quarter point hikes. others have expressed at least another safe quarter-point hike given the strength of the economic numbers of late. is the market prepared for that, jay, whether you support that or
12:13 pm
not, is the market prepared for that? >> yeah i think the market is prepared for it. the rhetoric continues to be hawkish. james bullard one of the biggest hawks that we have out there. he hasn't changed his tune. i think the consensus is 40% we go quarter-point hike. three weeks ago they were talking about cutting rates because of regional banks. that is not in the cards. if anything we cut, that would be a panic move because the fed doesn't know what they're doing. there will be that kind of reaction. i think a pause is what we expect down here and a pause is in the cards. that line in the sand, that 4200, i know luke was talking about how the treshrigs are going wild and they are, did you down here equities are taking it in stride. we keep making constructive higher lows. 4200 has been again and again and again. we get a resolution the path that i'm following, the least resistance is higher. you may get a lot of short-covering. you may get a lot of money on the sidelines finally coming to work and you could see 52-week highs in the s&p 500 like you're seeing right now in the nasdaq which is making 18 month highs.
12:14 pm
i will take the other side of luke on that one. neil: all right, luke, let me ask you about that other side because throughout this 4200 range-bound trading in the s&p 500, the nasdaq itself has been on a tear. i believe we're back to levels we were almost a year ago. and that has a lot of people saying you know, nasdaq is it. it's back again. is it? >> i don't think so. i think this is temporary. i will take the other side of jay, even though me and jay are very close. he took me under his wing at the at the stock exchange aways back. nasdaq is rallying on the fact we'll not enter a recession. that the federal reserve will pause if not cut rates by end of this year. we went from three rate cuts by end of this year to two. i think it goes to zero eventually as we keep pricing in inflation stickier than a lot of people realize. the fed's only job right now is get inflation below 2%.
12:15 pm
until they do that they have not succeed the technology, long duration stocks will come back to earth. stick with the boring defensive names. that is where you want to be. neil: got it. guys, don't wander too far. i want to pick your brains with lowe's, latest retailer, our consumers are shopping, not shopping, buying as much. that is a trend i want to pursue with you guys a little bit. meanwhile hal lambert is joining us a financial icon. not too long ago was a very big backer of one donald j. trump. still likes the former president. likes someone else a lot more, ron desantis and he is putting his money where his mouth is. hal lambert is next. ♪.
12:16 pm
at adp, we understand business today looks nothing like it did yesterday. while it's more unpredictable, its possibilities are endless. from paying your people from anywhere to supporting your talent everywhere, we use data driven insights to design hr solutions and services to help businesses of all size work smarter today. so, they can have more success tomorrow. ♪ one thing leads to another ♪ the chase ink business premier card is made for people like sam who make...? ...everyday products... ...designed smarter. like a smart coffee grinder - that orders fresh beans for you. oh, genius! for more breakthroughs like that... ...i need a breakthrough card... like ours! with 2.5% cash back
12:17 pm
on purchases of $5,000 or more... plus unlimited 2% cash back on all other purchases! and with greater spending potential, sam can keep making smart ideas... ...a brilliant reality! the ink business premier card from chase for business. make more of what's yours. when the martins booked their vrbo vacation home, they really weren't looking for much: just time with each other. but when they needed support, i got you. they could reach a real person in about a minute. and that's what makes vrbo unique. ♪ dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones
12:18 pm
psoriasis really messes with you. try. hope. fail. no one should suffer like that. i started cosentyx®. five years clear. real people with psoriasis look and feel better with cosentyx. don't use if you're allergic to cosentyx. before starting get checked for tuberculosis. an increased risk of infection, some serious and a lowered ability to fight them may occur. tell your doctor about an infection or symptoms or if you had a vaccine or plan to. tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reaction may occur. best move i've ever made. ask your dermatologist
12:19 pm
♪. neil: this is the week stops teasing and announces a presidential run of his own, maybe as soon as thursday. ashley webster is following developments from the sunshine state. ashley, how does it look, what's the schedule? >> well that's a good question. plenty of rumors out there, neil. governor desantis as we know has not declared his candidacy formally yet for the white house but it sure hasn't stopped him
12:20 pm
from sounding like a presidential candidate. last night speaking to a christian media conference in orlando, desantis made the case for electing a president who can serve two consecutive terms, of course, not so subtle jab at former president trump who can only serve one more term. desantis argued it is all about the supreme court. listen. >> that in those eight years we would have the opportunity to fortify justices scalia, alito and thomas. if you were able to do that, you would have a 7-2 conservative majority on the supreme court that would last a quarter century. >> reporter: as you point out, neil, supporters of the governor may not have to wait much longer to jump into the race. desantis is meeting with several of his long-time donors in miami over the next few days. it is believed he will file the paperwork declaring himself as a candidate maybe as soon as
12:21 pm
tomorrow. another subtle hint desantis is running, well his twitter handle @ron desantis florida, is now @governorron desantis. another clue. we know the severed the tie with the state pac, 86 million bucks. a move allows those funds to be transferred to a presidential super-pac. you can add in another 30 million from a pro-desantis for president pac as well. that means the governor will have $116 million at his dispose hal well north of president trumps current 86 million. if he announced the next day or two, that gap could widen even further. mr. trump also has some pretty deep pocket donors as well. should be interesting, neil. neil: thank you, ashley webster. another guy they tried to win over and woo in the republican party is this next gentleman.
12:22 pm
he already announced a date to the ball if you will. hal lambert point bridge capital founder and ceo. creator and much more. hal set his sights on the florida governor, not the well-known florida resident donald trump. hal, always good to have you. what made you go for the governor? >> well there's a number of reasons. i think the governor actually just said it. one, donald trump can only serve one term. he will be effectively a lame duck on day one if he were to win. i don't think he can win the general. that is the number two reason. i don't think he can win the general. this are states that matter. we all know what those are. states like nevada, arizona, virginia, wisconsin. i don't see trump winning any of those states. so we can't win if we don't win those states and so also i think governor desantis has just done an amazing job as governor. there is nothing wrong with that candidacy. it is time to move on to the next generation and governor
12:23 pm
desantis is vision forward versus, hashing out things from the past. i think it would be a moratorium on biden's presidency, referendum i should say, a versus referendum on trump. we don't want another cnn debate for the next nine months. we want what governor desantis offers which is a vision forward, not looking back. neil: did you announce these intentions because it has been a while, to donald trump? if so what was his reaction? >> no, i didn't. i basically went public with it yesterday and, you know, that east the way i decided to go. i will do everything i can to help governor desantis win. i i will try to raise as much money we can raise to win election. i suspect donald trump peaked in the polls. he lovers to talk about the polls. at 52% i don't think that is great in the republican primary. he is the former president yet basically half of the party
12:24 pm
would prefer someone else. i think those numbers go lower from here going forward. i think desantis closes that gap pretty quickly. neil: so he hasn't talked to you about this decision since you made it formal yesterday? >> no. but he did, he did put out a comment about me. you know, did kind of the middle school name-calling thing which fine but, again, no, no comment, no calls from any of the people with the trump party, with the trump campaign. neil: what do you think when the president refers to ron desantis among a number of names, but ron desanctimonious, things like that? >> well, look it is not going over well. when you see i am do it publicly at some of his events audience doesn't cheer for it. sometimes they boo. i don't think people want to see that people don't want to see, we want to unite the country and we can't have name-calling, we've got to move to you know, an adult conversation on real issues and i think desantis
12:25 pm
brings that to the table. if you look desantis versus biden it is a very stark contrast. the next generation moving forward and i think that's what the american people will ultimately decide they want to have. i don't think they want to see a biden, trump, re-election battle. i think, i think, donald trump should drop out of the race quite frankly for the better of the country, i think he should drop out of the race. neil: we were showing a poll showing him getting 56% of republican support. i think it is safe to say he won't drop out. i'm wondering about this idea that he is is unelectable, donald trump can't get elected again. didn't they say this in 2016? and he did. strong base he has among republicans you're quite right it could change as we go through caucus primaries that begins dissipate, he could be, the odds on favorite to be the republican nominee, what do you think slips this time versus last time?
12:26 pm
>> well, i think last time, i agree with you, everyone said in 2016 he couldn't get elected but he was running against hillary clinton which people hated. people hated hillary clinton and even her own party didn't really like her. kind of a similar situation. so trump wasn't hated in 2016 by the left the way he is today. so when you look at it today there is a large faction of the country will turn out to vote against him just as people turned out to vote against hillary. i don't think that venom is there for other candidates. so, i think that's the big difference is the four years that he served and then afterward, what's gone on he created a situation where many, many people simply hate him and he is not going to be able to win them over. neil: you know, hal, many have made, ron desantis will have a target on him because he is the most well-known trump alternative. one with a very good shot getting the nomnation. again these polls
12:27 pm
notwithstanding, you know them far better than i, but they say to a man or woman, they're all saying it, oh, the florida governor is overrated. he inherited a great economy in a great state, he didn't do anything special. he is not all that and on the stump he is rather aloof and stiff, you heard all of that, hal. i wonder how you feel about that? >> yeah, i think those are not accurate attacks and i think the american people will see soon, i agree i think he will be announcing very soon that is not the case. he won florida by 19 points, almost 20 points in a state historically has been 50/50. he has done it because he has been a good governor. he has a lot of legislation passed whether it is on schools and having school freedom, school choice, whether it's on immigration, whether it's on mundane things like insurance reform. he has done a lot of great things in florida. so he has a record. he has been able to get things done. he will run on that. he will not run away from
12:28 pm
anything he has done legislatively. once the american people really see that, i don't think they really know yet. he hasn't even announced. once he does you will get to see it more. neil: you know, hal, people who don't know you, don't know how successful a businessman you are successful financeer businessman you are, so that part i want to address in this question about the battle, the governor's battle with disney. is it really wise, worth the fallout from the battle, the woke campaign? other conservatives we agree with the governor on a lot of these measures. it shouldn't be the role of government to punish companies because they don't agree with them, what do you say? >> well, i think we need to separate a state issue versus a federal issue. i don't think he would do it at the federal level. i wouldn't recommend it. states have the right to work with businesses in their states. they try to woo companies to
12:29 pm
their states. you see tax rebates and tax breaks for companies that move there. disney had a special tax break and then they started attacking the governor and the legislature about issues that had nothing to do with disney and governor desantis said, hey you already have the tax break we gave you as a state. we'll look to take that away because you're note the type of company that supportive of the values we have in florida. but i don't really have a problem with it. neil: look what disney has done, hal, disney has done, planned hiring of 2,000 people at disney institute is scrapped now. that is clearly pay back here, so it looks. will he rue this move, is he going to regret that? >> no, i don't think so. look, how many people are moving to florida every day? you're talking literally hunt of thousands of people a year are moving to florida. so the fact they're not going to have 2,000 additional employees of disney in the state i don't think it will move the needle. it's a headline. and i don't think he will back away from the stance on disney.
12:30 pm
again it was a state issue. i don't see it being replicated at the federal level. he took a stance, hey, you don't need the special tax break literally no other company in the state had and that's what he went after. he wasn't, he wasn't trying to shut them down. hey, you're not going to get special privileges that no other company gets. neil: all right. just circle back to something you said at the outset of the interview hal, where you think that donald trump should step out of the race, were you saying based on some of the legal challenges he faces and other suits that could be coming what? what did you base that on? >> look, i like donald trump's policies. i like what he did. i'm basing it on bringing the country back together. i think, look, he is so divisive right now, if he were the nominee this would be another situation where we're going to have our own country battling internally against each other in a way that is not healthy. that is really what i mean. i don't think it is healthy for
12:31 pm
the country to have to go through this in 2024 unnecessarily. i think it is unnecessary. we have a candidate in ron desantis that can win, that has a record, that is conservative, that's the next generation. why do, why go through this unnecessary kind of hatred of each other in the country? neil: got it. hal lambert, great catching up with you. thank you for joining us. >> thank you. neil: all right. hal lambert, the brains behind point bridge capital, founder, ceo, maga etf creator, before moving to the side of ron desantis, florida governor, who as we hear will maybe announce as soon as thursday that he is running for president of the united states. when we come back some apple news to share. you know their items are pricey but 3,000 bucks for a pair of headphones? i kid you not. those better be incredible headphones. more after this. to new adventures. -oh. mwah. -planned... -and unplanned. -surprise!
12:32 pm
-they lead to goals. -for you, mama. and connect us to family. i didn't get the part. your dedicated fidelity advisor can help you open those doors. but i did get waiter number 2. because they know you. they can help you create a comprehensive plan for your full financial picture and personalized money management with the right balance of risk and reward. doors were meant to be opened. electric dream days are here. come in now and experience the intense thrills and incredible offers on any of five mercedes-benz electric vehicles. including two years complimentary charging and pre-paid maintenance. the vehicles are all electric. the feeling is all mercedes. the choice is all yours.
12:33 pm
but hurry, these dream days are only here until june 5th. i can't, you know, thank my parents enough for making sure that this connection is here. one of the things that my mother told me when she was in the hospital, she didn't tell me, actually, she couldn't speak at the time, but she wrote it down... "go see alicia." oh, my goodness. you know, and there was never a time that you were too busy. there was never a time you said i'll call you back, you know. i needed to be there to carry you through, just like, you know, some of my friends carried me through. ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy?
12:35 pm
12:36 pm
♪. neil: this is why some people give a.i., artificial intelligence a pause. rumor in the market circulating photographs floating around showing the pentagon is under attack. news these photographs were out there, they were all untrue, they were all digitally fiction alley done was enough to tank the markets briefly because they took them seriously. that is a worry to my next guest, the national security institute antonin scalia law school, founder, executive director. jameel, looking at this stuff, we feel it is not worth showing, it is a reminder how a.i. is changing the game, how a lot of people can be hoodwinked, fooled, people driven to take action against something totally fictitious. what do we do? >> absolutely, neil. there are challenges in this space. a.i. has the power to be hugely
12:37 pm
transformative for the situation. it can create huge benefits. there are downsize and challenges. we saw the "deepfake" images, pentagon being attacked. musicians being copied and. it is important to think about the security of the algorithms, think about the security that a.i. provides, including images. we spent time investing in the space since 2020, the security of a.i. images, protecting a.i. capabilities, gore algorithms and the like. there is lot to be done, neil. governments should look how they regulate it as well. neil: i worry about the tendency on the part of rushed society we live in now, especially on social media you're in a rush to get the news out even if it looks a little specious to you because everyone wants to be first. i subscribe to an old-fashioned view because i'm such an old-fashioned fart myself, many of them, could be my kids, i
12:38 pm
would be rather be late and right than early and very wrong but i worry now with a.i. it's upended all of that because everyone will have this technology and try to use it to the max and therein lies the danger, right? >> no, you're exactly right, neil and we did see a lot of news outlets in particular, russia today pushed it out, a number of news outlets pushed it out. it started on facebook, moved over to twitter and started to be pushed out by outlets. outlets took it down. you're right, better to be right than early. one of the benefits of a.i. too, if you do it right it can actually detect some of these things. where a.i. creates fake images, a.i. can be used to identify it. people talked about the creation of synthetic malware in the a.i. spice, cyberattacks and like, by same token to use a.i. to defend against synthetic malware attacks. there is a lot of opportunities
12:39 pm
in the space upside, and downside, neil, when we talk about a.i. the big thing you want to watch out for you don't want governments regulating the space too early where you will shut down innovation and capability early. you want to be able to innovate rapidly. how to find the middle ground is the hard part of the conversation, neil. neil: if everyone is on the same page, i suspect china is operating at the own space. isn't talking about any pauses. we'll see where all that goes. i always learn a lot. thanks for taking the time. >> thanks for having me, neil. neil: meantime we hear that the consumer is slowing down, we got that out of lowe's, following in the steps like home depot, other retailers like target, you know they're dialing things back. in the middle of this, apple coming out, set to launch 3,000-dollar headphones and they think they're going to have a lot of interest from a lot of buyers who think it is worth the price. more after this.
12:40 pm
♪. are you a new at&t customer looking to upgrade your phone? you're trapped! locked into your contract for three years... and your phone is locked into their network too. no two-year upgrade for you, jonathan. but t-mobile has a way out. introducing the easy unlock. bring your at&t locked phone and t-mobile will pay it off and give you one of the latest 5g smart phones free! plus, next time you're upgrade ready, in two years versus three. you're free now little one. and so are you! just so we're clear i did trip on purpose for comedy. free your phone now at t-mobile.
12:44 pm
♪. neil: all right. paying attention to what's happening at the corner of wall and broad, not a whole lot as we wait to hear how debt negotiations are going. if you want to look at overall economy, what we're hearing out of nation's premier retailers that consumers are cutting back a tad, flies in the face of news out of apple ready to sell 3,000-dollar headphones. this is apple i know. the dichotomy has me interested. raise it with luke lloyd, and jay woods back as well, global strategist for freedom capital markets. jay, obviously there is a difference being an apple consumer, you're willing, often times quite happy to pay the
12:45 pm
higher prices because they're worth it or deemed to be worth it, but i don't know, $3,000 for a pair of headphones, they better be damn good headphones. maybe they are. >> you broke that news to me. i haven't heard of these 3,000-dollar headphones. they better give us stock tips or something because i don't know who will want it except for my kids. my kids will probably bug me for it but, that cycle continues to recycle itself well. with laptops, iphones, ipads. the headphones, we'll see how that goes. neil: yeah. luke will have bought two already, lukes are very independently wealthy young man. luke, let me ask you a little bit that. >> i wish. i tell you main street is not buying 3,000-dollar headphones. neil: i hear you. but the consumer has been resilient through this maybe the job market has been strong. it could peter out. it has been strong throughout all of this, a good backdrop for the economy, but clearly consumer is slowing down. we're not seeing it in book
12:46 pm
solid vacations resorts, maybe that is post-covid thing but that part is strong. how would you assess the consumer right now? >> this goes right back to the divide. upper, middle class america got richer. middle america and lower middle america got poorer. the fact that you can sell 3,000-dollar apple ear buds or headphones, that's crazy. main street america is not buying that. you look at home depot and lowe's earnings, right, it tells a completely different story about middle america cutting back their spending. we were just talking about the debt problem in the last segment. most of this economy was big on debt, even on consumer side of things. larger ticket home projects were financed with home equity lines much credit or different type of loan. being locked up, people staying home, got bored in their house, invested in their homes. with rates are higher, people are not starting many new projects anymore. financing them with savings are out of the question. people are focusing on necessities, americans
12:47 pm
walmart's, nothing talked about the student loan payment is started up. that is $400 a month. other people have 5,000-dollar additional expense coming back up what do you think will happen with the discretionary spending. i'm not factoring, significant uptick in unemployment in that either. neil: quickly, jay, i'm told they're virtual reality headsets. they're different that could explain the virtual schorking reality of the price tag but having said that are you looking at a recession as you see things now? >> everyone is looking at a recession. we've been talking about it for months. it is the most telegraphed recession in the world. we finally hit it. i want to buy the market. i look at price action. luke mentioned what we're seeing in lowe's and home depot. they have negative reports. what are the stocks doing today? they're up. the worse seems to be over from a stock-picker's point of view. that is how i follow the market what stocks i want to be in. i don't think retail is one you
12:48 pm
want to be in, there are more headwinds again. they lowered their estimates. they cleared the small bar but people are still buying the stocks today. that to my is a positive. neil: all right. we'll watch it closely, gentlemen, thank you very much. maybe a reflection of the strength of the consumer in nation's airports and roads as we go into the memorial day weekend. travel plans very, very robust. madison alworth has more from newark's liberty national airport. madison. >> reporter: neil, we're hear ahead of the rush for memorial day weekend. tsa security is taking less than five minutes. that is not what airports are expecting this weekend across the country. we're looking potentially a record breaking holiday weekend when it comes to travel. 17 million americans are expected to fly out of a us airport between thursday and monday. that is kicking off the summer travel season, pete buttigieg
12:49 pm
speaking ahead of that after following months of problems, thousands of delays and cancellations and near misses on the runway. one of the big issues has been air traffic controllers. what we heard from buttigieg just about an hour ago they are still short thousands of those controllers. take a listen. >> the optimal numbers i would like us to be are about 3,000 north where we're are. we are hiring 1500 this year. i think it will be a while before we're at levels we would like to see especially in more challenging areas like new york market, jacksonville area has been a concern too. >> reporter: passengers are paying $273 on average for domestic air fare this memorial day weekend. what they have told us, neil, they're tired of the inconsistency of travel. >> i have issues, i don't think they have hired staff back quickly enough. so i think there is going to be issues again all summer.
12:50 pm
>> have air tag in there now. i invested in couple incident of last year my bag not getting there i don't know if it will arrive today. arrive at some point. at least i will know where it is. >> i haven't traveled in the past three. i'm here three hours early [laughter] >> reporter: there gow. air tags and arriving early, neil, that is the world we live in today, when it comes to travel. i will send it back to you. neil: man, oh, man, three hours early, i don't know. madison, great job as always. madison alworth on that. want to go to brian brenberg with the the big money folks what they have coming up ten minutes from now. brian: neil, tiktok fighting back filing a lawsuit over first-in-the-nation ban. we'll talk to montana attorney general austin knutson. meet the person behind the taylor swift bill. that is top of the hour butpl first moree "coast to coast" m whafter this like a smart coffee grinder - that orders fresh beans for you.
12:51 pm
oh, genius! for more breakthroughs like that... ...i need a breakthrough card... like ours! with 2.5% cash back on purchases of $5,000 or more... plus unlimited 2% cash back on all other purchases! and with greater spending potential, sam can keep making smart ideas... ...a brilliant reality! the ink business premier card from chase for business. make more of what's yours.
12:53 pm
when i was his age, we had to be inside to watch live sports. but with xfinity, we get the fastest mobile service and can stream down the street or around the block! hey, can you be less sister, more car? all right, let's get this over with. switch to xfinity mobile and get the best price for 2 lines of unlimited. just $30 a line per month. i should get paid more for this. you get paid when you win. from xfinity. home of the 10g network. municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free.
12:54 pm
with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income... are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217. neil: $240 million it says donald trump will not be the republican nominee. i want to go to julia manchester, "the hill" national politics reporter. julia, back of the napkin math of my head here, include money for ron desantis, tim scott, nick did i haley, $240 million committed to those candidates not one donald j. trump.
12:55 pm
that doesn't mean he or she with the most money wins but what do you make of that alternative fund-raising haul? >> look with the alternative fund-raising haul means all of these candidates, particularly tim scott, nikki haley, tim scott in particular is a very, very good fund-raiser, they have an uphill to climb and they have staunch, stiff competition i should say from donald trump because not only does donald trump have this incredible financial war chest but he also essentially the incumbent in this race being the former president, so you have nikki haley, tim scott, even governor ron desantis who really have to be able to travel these early primary states in the country as a whole to build their name recognition. to do that that takes money. hike i said tim scott's a very good fund-raiser. there is no doubt in my mind he can build on his current war chest but it will be a lot to compare that to the former president. neil: yeah. i also think too, julia, among
12:56 pm
donors themselves, a lot of them are rich folks and they don't like to waste their money, so they're placing some odds, hoping they're right. a lot of them are savvy investors and it does work out for them but it will not work out for all of them. i'm wondering how the early donors backing non-trump candidates are looking at this? >> you know, that's interesting you bring up the donors, neil, because last night which saw the "axios" reported that glenn youngkin is not, is reconsidering a 2024 bid. now glenn youngkin never officially closed the door on a 2024 bid. he said he would not be on the presidential campaign in 2023 logistically that raises questions how he could launch a presidential campaign in 2024 but a lot has come from rumblings we've all been hearing about donors, particularly non-or anti-trump donors about the viability of governor ron desantis.
12:57 pm
you know hasn't gotten the most favorable press coverage over the last couple of weeks. so there is, you know, maybe a bit of a feeling among some donors there could be an alternative out there. neil: all right. we'll see. still aways to go. julia manchester, following all of this for "the hill," national of this for "the hill," national politics reporter. we'll see where that money i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. .. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones ♪ ♪ ♪ ♪ ♪
12:58 pm
your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire gold is an investment that delivers returns and protects wealth. with millions of ounces discovered and growing, your investment possibilities with nighthawk are endless. think beyond.
12:59 pm
- [soldier] take a look at this! - they've left us a gift. - [soldier] i think we misjudged them. - i love horses. (birds chirping) - [soldier] we should open the gate. - let's see what charlotte thinks. - [narrator] at crowdstrike, we monitor trillions of cyber events to detect threats and prevent breaches before they happen to keep your business from becoming history. we stop cyberattacks. we stop breaches. we stop a lot of bad things from happening. crowdstrike. protection that powers you. ♪ (upbeat music) ♪ ( ♪ ) woah. ( ♪ ) ( ♪ ) ( ♪ ) ( ♪ ) constant contact delivers the marketing tools your small business needs to keep up, excel, and grow. constant contact. helping the small stand tall.
1:00 pm
77 Views
IN COLLECTIONS
FOX Business Television Archive Television Archive News Search ServiceUploaded by TV Archive on