this is the aftermath from the canadian wildfires. fox mother says the air quality is poor in new york city and around the city. the situation could get worse. the air quality i'm looking at only phone here says 153. 153 and it's 162 new york city, unhealthy. >> there saying it's as bad as anywhere in the world. last night it got into the 190s. impossible to say what it's like here, it seems like a sci-fi movie, very strange. >> weird and unhealthy, you might want to wear a mask unfortunately. good to see you this morning, thank you for joining us, varney and company picks it up right now. webster, ashley webster in for stewart.

>> that's me. good morning. i'm ashley webster in for stuart varney. 2024 race continues to take shape former new jersey governor chris christie officially jumped into the race. wasted no time going after front runner donald trump. former vice president mike pence officially launching his bid with the campaign video and the governor of north dakota, doug jumping in the race as well. it's getting crowded. on the democrat side instead of campaigning, president biden is getting ready to come for another home appliance. this time -- your gas powered furnace read if that sounds ridiculous, new york city is suing kia hyundai saying they are too easy to steal. because criminals want more of a challenge i guess. to the sports world, bga under fire for making a deal. i wonder how the players feel who missed out on the huge paydays because they chose to stay loyal.

all of this is just beginning. let's get to the markets, the dow, s&p and nasdaq slightly higher premarket picking up where we left off and the markets are waiting for inflation data that comes up next week. as maria talked about, wildfires in canada are to blame for millions of americans reading unhealthy air. residents across the northeast are being told impossible to avoid being outdoors. we have the full report. wednesday, june 7, 2023 and a smoke free varney and company is about to begin. ♪ ♪

>> run, run, run. maybe run indoors smoke like that in the northeast. politics, 2024 presidential primary race continues to grow. former governor of new jersey chris christie officially in. good morning, what's the main focus of his campaign? not taking down trump. he called the trump presidency a failed one. we are going to play some sound but watch how comfortable he is. he's unscripted and willing to go toe to toe with his former friend and boss. >> it is the last throes of a bitter, angry man who wants power back for himself, not for you. if that's the kind of person you want, no one can compete with him. >> he said some of the president's children profited the presidency and he said

former presidents trump and joe biden made the u.s. feel smaller and that's what i think a lot of people can relate to, something doesn't feel right, the rest is it and great on the world stage but he's got the guts to really go after trump and the prosecutor. you can throw anything at him, he's an attack dog and then the former vice president mike pence entering the race, happy birthday, mike pence. look at this clip. >> we can turn this country around with different times call for different leadership. before god in my family am announcing him running for president of the united states. >> he said to hold a big event today near des moines iowa after spending last weekend campaigning. how can i state. the court is governor, who? doug program, not a household name said to announce in two

hours. every candidate gets her moment, today might be his. his pro-business, pro- traditional energy, energy is a form of social security. how will the message resonate in a crowded field right now? >> the field is getting crowded. thank you very much, good rundown. mollie hemingway joins me now. most of the republicans focusing attacks on donald trump right now, is that the right strategy or dangerous? we know mr. trump likes to get done wrestling limit and he's pretty darn good at it. >> the reason is not a good strategy has to do with public and for the vast majority of republicans voted for donald trump, not once but twice, they were thrilled with his presidency whether a thriving economy, the fact that you know you wars breaking out, peace

breaking out all over the world, you have efforts to take on some of the more radical elements of the left, understanding seriousness of the regime opposition to trump so when you attack trump a lot of people do it as attacking them. they want someone attacking what democrats are doing, not someone who's going after the immediate past president viewed as successful. >> good points. msnbc analyst try to make the case that chris christie could prove to be an effective brawler in a fight with trump, watch this. i'll get your,. >> christie has a different stage presence, a different style. if christie can make the debate stage, if donald trump shows up in christie does what he is telegraphing is reported he's going to do, it could be a variable we have not seen. i don't know if it elevates christie in terms of his standing but could it lead against trump that nobody in

nearly a decade watching trump interact with the republican party, nobody managed to win. >> it comes back to original points, can chris christie land a punch on trump? is that would needs for the other candidates? >> various pendants in time politics a thrill of the idea that someone attacking donald trump, the problem is none of these people voted for trump or understand how republican voters feel or think about the dire situation the country is in and it reaffirms one of these cases donald trump is making that he's fighting on behalf of the american people against corrupt regime elements so the anti- trump figures celebrate attacking trump, the more it shows how out of touch they are as they were in 2016 and 2020 with actual republican voters. that's not to say you can't take

on trump but you need to take them on with an understanding of where public and voters are as opposed to d.c. or new york liberals hate trump. >> quickly, trump said he may not bother showing up for the first several debates. i can't see him doing that, can you ask. >> he does well on the debate stage even when there was that massive field in 20161 reason he won the nomination because he handled various contenders very well but on the other hand he has avoided debates before so it will be a challenge for the republican party to create scenarios were not everybody is allowed on stage but still has a vibrant debate. >> all right, great stuff as always. thank you for joining us today. staying on 2024, calling out the trump campaigns tactics for the election. what is he saying? >> he wants to be vp. he's not calling out donald trump, that's the difference

here. this is what his campaign tells fox, he can sit america first even further than trump. beautify the country while doing it by leaving with first principle and moral authority, not just vengeance and grievance. he's fine-tuning trump's message, saying he could deliver it, he could take it further do it in a more moral lesser way but he's not talking donald trump. at one time he admits trump can win. i think it's a different attack, i think he wants trump to win in him be vice president. >> that's one theory people are putting out. let's get back to the markets. an expression that pretty much describes it, slightly higher across the major exchanges ahead of the opening. lou, great to have you here did should investors he'd warnings or do the bulls have a good case

right now? >> i think everyone should ignore the talking heads so that probably includes me but if you look at the market fundamentals, that's what's most important in no denying stock market is in valley mode. seven stocks are propelling s&p 500, but if you look underneath the reality is 95 s&p 500 stocks hit new 52 week highs since they first. another 25 are within distance so this is a bona fide rally within 35% of the major market index trending higher, a market need to be in because while the bears are making excuses and predictions about imminent collapse, the bulls are making money so go with the trend is. i would tell investors right now the biggest refrain an argument against the market is going to be fixed is super local volatility index closed about 14 for the first time in about three years old volatility is a

good thing for stocks. the last time we to multiyear. about 14 enclosed below 14, s&p 500 was up almost 20% so the underlying trend for the bulls not the bears. >> have got a minute left and i want to talk about ai, we know big names, are there any place in this sector under the radar next. >> that's a great question, with overdone nvidia but i've talked about i placed in the biotech game therapeutics, another one came across recently, sound hound. this is voice ai, a technology invented 17 years ago underpinning and large language models which is what powers check gpt for this company's technology is used, residents rafael 56% in the last quarter. they interact with the heart if you drive through a drive-through to order.

ai customer service assistant i will function very well, something i don't personally o own, just doing my research but people should check out, is about $500 million market cap company. >> good stuff, fascinating. thank you very much as always for joining us this morning. coming up, the pga is going to merge with lyft and caused an earthquake in the golfing community and sports world. espn analyst stephen smith praising the move. >> i want to take a moment to do something i never thought i would do on national television and that's give pga commission jay monahan some love and cr credit. this is smart business, make no mistake. >> smith might be happy but there are plenty of others including current pga players angry at this deal. the administration and u.s.

military bases, retired navy seal commander ryan says far too late. recruitment has been hit. he's here to rip military wokeness next. ♪

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.

u.s. officials still investigating who's responsible for the destruction of a dam and

seven ukraine. people in the area desperately trying to escape the floods. trey yingst is in jerusalem this morning with the latest. >> good morning, the united states still is investigating whether was ukraine or russia that blew up the could damn early yesterday morning. there's no proof about who's responsible and what exactly occurred. right now ukrainian officials keep bringing russian officials in moscow so flaming ukraine. residents of seven ukraine are being evacuated to higher ground. thousands of homes remain underwater in ukraine emergency crews are working around the clock. dance destruction has strong condemnation around the world due to civilian and environmental impacts. >> right now the immediate focus is on the ukrainians whose lives and towns and villages are affected in making sure they have aid and assistance they need but right now, too soon to

assess what impact it will have. >> the disaster comes as ukraine appears to be pushing forward with the counter offensive. reports from the field indicate ukrainian troops recaptured territory to the city of baku were battles of rage on for months. ukrainian forces have made attempts in the eastern dona region recaptured territory there. will be critical for ukraine, they need to show western nato allies they are able to liberate territory in the southern and eastern regions of ukraine and put the weapons and funds to the test. ashley. >> excellent stuff. thank you for the update. russia is issuing a new warning, they say supply in ukraine was u.s. f-16 fighter jets will escalate the conflict. republican from montana and retired commander joins me now. we've heard this rhetoric from russia every time the u.s. considers a new type of military

aid but do you support sending more weapons to ukraine? >> i don't support with a blank check. i've asked, what's the plan? tell me the plan. thus far we spend about $130 billion of u.s. military hardware, need support but what is the plan? bounce around with a blank check is dangerous and we are tiptoeing blindly in nuclear combat with russians if we're not careful. >> how would you switch up for you, one i think that makes your blood boil a little bit. mark finley says canceling drag shows plans to be held on military bases as well as the absolute right thing to do and these performances were not federally funded but what you make of all of this? >> let's start out with partner depends, paying for sex change

hormone therapy and operations. the navy things number one threat to this country is global warming. you have a recruitment program that uses drag queens as influencers and you wonder why we have a recruiting problem? i appreciate he stepped forward, it's a mistake not hopping but we need to examine from vow to stern because the military is perceived as being woke and a lot of sons and daughters around our country are joining the service because they believe that is the case. >> what's the morale like in the military right now? you get a sense of that, congressman? >> i have tried, i love the military but we don't have physical standards in the navy about the use of two-year, now one, no consequence of failure, the marine corps is coed and i always go with the troops, i go to the chiefs. chiefs, what's going on? with their telling me is a lot of people are failing and the people failing are the people we

should be retaining and a lot of times people retained are the ones you need to do something else. the number one job defend this country. the number one job of congress is to make sure troops in the front line have the right equipment and training and the right morale, the way decisively on the field of battle and what i'm seeing is woke agenda is a destruction of the core commission. >> we hear your message loud and clear, thank you for joining us to share. appreciate it. veteran -- thank you and yes, sir. air force veterans claims the u.s. is being collecting intact ufos. fascinating story he says he has proof, do we know what the proof is? >> aliens vehicles -- i just said that. he says seen the aliens vehicles that have landed or crashed and i don't know if this is the

right word, the bodies of other species retrieved from the vehicles. crazy stuff so who is this guy? david charles, air force veteran and claims the government is covering up the ufos from a secret ufo retrieval program. the government says a tiny fraction of the hundreds of ufo sightings are unexplainable and there is report due on this next month. >> i bet social media has been set on fire because our people who believe this so the government is covering this up for some time but if we physical proof, that would be something. >> he is the whistleblower, he got some street credit. i'd like to see the proof instead of just taking his word for it. or maybe not. i don't know, actually. >> i do, i do. anyway, fascinating. let's check the futures before we head to the break in the

opening bell. we are just slightly higher as we wait for the inflation data next week but opening bell is coming up next. ♪

we take a look at these features slightly higher. let's bring in michael, i love reading your notes. you've been up there for good reason but you have saying because has markets can remain irrational longer than you can say so but which you state in the short term the markets will go up even if it doesn't make sense so are you buying? >> right now what i'd be looking at is either vm, small-cap etf and what we have seen coming in this year's most predictable recession ever predicted that hasn't quite materialized for good reason, there's a lot of economic data screaming red, the

same way it did prior to 2008 and as a result everybody got short the market, the a few weeks ago was the largest it had been 2007 ahead of the 2008 crisis so when investors are short, if you get enough money and momentum to squeeze them higher, it's not something difficult, it's being done with a cameras so everybody remembers game stop and that stock exploded in the same thing is happening now with iw and in a massive amount of volume out there. i think the momentum continues particularly in this cap short-term, i think it's high in the next few months but eventually reality will kick up in the economy was improved dramatically for the stock market will fall apart. >> it's interesting because the economy is slowing liquidity tightening, earnings are falling and i sometime the chickens are going to come home to roost.

to get a sense of where that could be and what it would look like? >> i would have thought it would happen by now but with the aggressiveness the fed tigh tightened, it's my production we would be in a recession by this time. it's looking like that will take longer which means the fed will have to continue to do more or remain higher as these continue. we have a banking crisis on our hand. i think will see a lot more bank failures, this is from a deposit flight, not thanks owning toxic assets. the same will be bank failures. lending collapsing across the country, recession is unavoidable much don't know when it's coming. ♪ >> i need another coffee but thank you for being here and giving us your dose of reality. thank you for being here. opening bell is up and running, they pushed the blessings, there clapping and yelling, another

day of trading on wall street this wednesday morning. it's a good the board, the dow walks showed premarket ever so slightly higher and that's exactly what we see up to two points, same number of stocks on the way up as the way down. disney forces on the top and in microsoft on the bottom. let's look at the s&p 500 that finished at the highest since august of 22 yesterday so it is moving higher. today of three points but let's look at the nasdaq, nasdaq finished at a high yesterday that hasn't seen april of 22 so they are moving higher in big tech has led the way. nasdaq up a quarter of a%. let's look at the big tech na names, amazon is higher. apple done lately the third of the%.

let's look at the individual names. anheuser still unchanged still dealing with the dylan mulvaney controversy so how much of the sales job today face this week? >> do member when i went camping memorial day weekend? i found bud light and some of the coolers, i stopped and took a picture. like people here are drinking bud light so we saw another near 24% drop and ending may 27, a little bit better than the week before. why? fifteen dollars back for memorial day so i guess some people said we are going to buy bud light despite boycott. does it get better throughout the summer? no one knows. i can tell you this, i feel like i say this wrong. the number one selling beer in

the country for the past month so that's what happened with the bud light boycott, dethroned for a month now. >> very good. you said it perfectly. who's bullish on netflix? who's bullish on this? >> wells fargo and j.p. morgan. they say netflix deserves $500, the highest on wall street. the new add here they say it will bring and $70 billion. then there's j.p. morgan, they like netflix crackdown on people who share their passwords. the bank estimates a third of the 100 million people who share passwords will pay up come 2025 another source of revenue they are taking their price target 2470. >> a lot of money. let's look at apple, developers

conference this week. a good friend of the show is raising price target on apple, 179, where does he say it will go? >> bush has it at 205 and moved it to 20 because of the upcoming iphone 15. another trophy case moment for cupertino, you can imagine him saying that. he estimates a quarter million iphones that have not been upgraded and over for years so they are ready and probably will by the iphone 15 this fall and most customers buy the more expensive phone, the probe. it pushes up the average selling price and it goes up by $100 to 925. therefore, apple is worth 220 share. >> got it. i understand. let's talk about soup. campbell's soup reported before the bell. take me through the report.

>> must've been ugly because the stock is on 9%. the marketing expenses, the shipping, commodities, a lot coming down for companies but not for campbell's soup. gross margins have been cut and inflation. when you go to the store and buy the cookies which i always do, they've been increased so many times in the past year. prices are up 12% and a quarter but sales will and they fell by 7% because you get pushback from the customer saying enough, i'm going down to a cheaper brand, private label were i'm not buying as much snacks and junk food. >> pepperidge farm, i hear that and i'm like lovely. let's change gears. let's get into another story here, completely off subject. boeing warning about a defect on this, what is the issue?

>> another production problem and he has delayed deliveries again. no impact on the stock price, we are used to this. it's not a safety issue, just getting the planes ordered the customers but what they are worried about is called industry speak, sitting on the horizontal stabilizer. i can't explain this, i can try but it would take too long. boeing expects a couple of weeks a plane and they plan deliveries of at least 70 this year so it's the latest in a series of production but regulatory problems for the dreamliner. >> stabilizer problem on the tail does not sound good to me but we will move on. let's talk about crypto, what is the latest with the sec and finance?

>> this is all bad news but it could be good because we might have clarity on what exactly crypto currency is protections for investors so that is easy asked a federal judge to freeze assets of planets u.s. it doesn't want the company to move assets, destroy evidence but it was just monday that sec accused finance of this web of lies and deceiving customers. the story is a little different for going voice, as easy this week accusing it of operating unregistered exchange. going base is saying okay, we have a long history of talking to you as a regulator. she bought another $21 million of coin base for her funds. going base stock is higher but together these lawsuits are different but could have the same conclusion giving the sec jurisdiction and investors

confidence. >> and clarity. thank you very much. now this -- coming up, a teammate transgender swimmer lia thomas at the university of pennsylvania speaking out. she says her school silenced her. >> the university wanted us be quiet and did it in an effective way, the continued to tell us our opinions are wrong and if we have an issue, we are the problem. they effectively time is us even talking to each other. >> we will get into the plus the nationwide retail theft costing businesses $100 billion a year while putting workers and customers at risk. madison and her team witnessed shoplifting firsthand. the report on that next. ♪

check of the market is open now. we are starting to move a little higher, but out of 61. as to be a 34% and nasdaq half of the present. now this, nearly half of retail grocery workers say they've seen the theft or attempted theft in their stores since october. madison is outside a drugstore in new york city this morning and madison, did you witness shoplifting firsthand? >> when we were here monday preparing for our story about shoplifting, we saw shoplifting at the store behind me. we saw a gentleman walked in, grabbed candy, bags of chips and beer and walks out without

paying. there was a hired security guard inside and he did not step in to stop the shoplifter but that's what we see across the board. employees are told to just stand by and watch crime happen, not to intervene so it's no surprise 40% report feeling scared to go to work. when they do step in, they face consequences. that's what happened to two employees who verbally fronted shoplifters that took dozens of items from the high end store. the company fired them following the incident. the ceo and represents for the company explained lou lemon has a zero-tolerance policy for chasing or physically engaging with suspected robbers. since employees are told to not stop shoplifters, stores are taking other steps to try to deter them. drugstores lock up even the most basic inventory behind plexiglas. we ask shoppers on monday what they think of today's shopping

experience. >> i just moved to new york a few weeks ago and the targets there are a lot different, everything locked up behind glass doors and it's interesting, i had to bust something to get a worker to come get a bunch of stuff and it was like just deodorant or basic things. >> bad customer experience, bad for employees and it's crazy. >> clearly the plexiglass doesn't stop shoplifting because there's a ton of plexiglass and while we were here, we witnesses and spoke to the employees and they say the sea shoplifting all the time. >> what a sad state of affairs. thank you for that. john joins me to talk about t this. you've hired security guards in your grocery stores, has that helped? >> we talked a little bit

different. when you fire employees for stopping shoplifters, board of directors fire the ceo for doing that. that is the dumbest thing i've ever had. we are almost under control because tough for the shoplifters one of our stores. the joke, we carry fat and just the fear alone people carrying of that is enough. the tough survive. right now we are listening living under the law of the jungle. i've said to the governor and the mayor, i said to everyone i don't care if someone steals a loaf of bread because they are hungry but profession or shoplifters who come in, people better killers, repeated violent

offenders, violent offenders repeat. these people don't belong in civilization. who is still voting for these people to be in office? certain people do not need to be civilization if there violent criminals over and over again. enough. if they go wipe out the entire store, less than $999 and they are arrested. our society. >> i hear you and i hear it from everybody, here it from people everything when you don't hear consequences, what are you going to do? will help yourself. the owner of two major san francisco hotels, the fourth largest start making mortgage payments on the $725 million loan, the ceo says crime-ridden

cities on the path to recovery that still remains clouded. local politicians are doing nothing and downtown san francisco turning into a ghost town. what can san francisco do? are you concerned new york will head down that same path? >> if you go up and down the streets in third, second avenue, lexington avenue, all the major streets in manhattan, the stores are have to empty and now because nobody is paying -- they walk into subways, a billion dollars missing, they will charge congestion pricing and take the billing dollars from outside people to pay for the billing dollars. now you got empty stores and manhattan would be a ghost town

because they try to rob peter to papal. >> you mentioned earlier, the only way to get this changed is that the ballot box. thank you for joining us this morning, you always bring passion with your commentary. you and many others who are distraught was happening. york city suing and night and kia for causing public nuisance. explain this. >> this is alleging manufacturers of the cars, therefore the cars were being stolen. hyundai and kia don't have proper safety features so they are too easy to steal. it's not the thieves fault. it is the car's fault. two automakers failed 2011 to last year to install antitheft

devices and it opens the floodgates to crime sprees, reckless driving and public h harm. >> there's so many criminals on the street, maybe that's a bigger issue. canada's worst fire season heating up. national weather service issuing air quality alert for millions and the tri-state area, smoky skies, result of 150 forest fires burning in québec. we got that report right after this. ♪

bridgett is here.

she has no clue that i'm here. she has no clue who's in the helmet. are you ready? -i'm ready! alright. xfinity rewards creates experiences big and small, anand this is readyime. to go online. any questions? -yeah, i got one. how about the best network imaginable? let's invent that. that's what we do here. quick survey. who wants the internet to work, pretty much everywhere. and it needs to smooth, like super, super, super, super smooth. hey, should you be drinking that? -it's decaf. because we're busy women. we don't have time for lag or buffering. who doesn't want internet that helps a.i. do your homework even faster. come again. -sorry, what was that? introducing the next generation 10g network only from xfinity. the future starts now.

smoke for more than 150 wildfires in canada drifting south causing code red unhealthy air quality alert in new york city. nate voigt is in the city now. how much of a health risk is this? >> certainly not good for anybody but particularly people with respiratory issues, young children, older adults are

encouraged to limit time outdoors because of the conditions we are seeing. for a moment new york city had the worst air quality in the entire world. things have improved at least extensively here in new york city. he people see people walking around but perhaps it's deceptive. take a live look at the skyline just before 10:00 a.m., you see smoke when going over the city, millions, not only the tri-state area are under air quality alert, it's impacting new england, parts of new england as well as the northern midwestern states because of this. over 400 wildfires burning in total in canada particularly smoke impacting us coming from over 100 fires burning in québec but look at the impact in new york city last night, the state department of environmental conservation issued air quality health advisory for not only new york city but the surrounding

suburbs. public schools in new york city will not have any outdoor activities today as a result of these conditions. smoke lingered over the yankees game last night, take a look at this. more conditions are expected in the coming days. fox weather team projects to linger through friday this week. coming up in five minutes, we are expecting a news conference from mayor eric adams but officials are urging everybody, especially those with respiratory issues, young children and older adults to limit your time outdoors well smoke continues lingering in the air. >> nate voigt, smoky area. still ahead, liz peek, california congressman, darrell iser, martha of mcallen and tennessee senator marsha blackburn, they will be on the 10:00 a.m. hour of varney & co.

next. ♪ .. about a game! cashback like a pro with chase freedom unlimited. how do you cashback? chase. make more of what's yours. my husband and i have never been more active. shingles doesn't care. i go to spin classes with my coworkers. good for you, shingles doesn't care. because no matter how healthy you feel, your risk of shingles sharply increases after age 50.

but shingrix protects. proven over 90% effective, shingrix is a vaccine used to prevent shingles in adults 50 years and older. shingrix does not protect everyone and is not for those with severe allergic reactions to its ingredients or to a previous dose. an increased risk of guillain-barré syndrome was observed after getting shingrix. fainting can also happen. the most common side effects are pain, redness, and swelling at the injection site, muscle pain, tiredness, headache, shivering, fever, and upset stomach. shingles doesn't care but, shingrix protects. shingrix is now zero dollars for almost everyone. ask your doctor about shingrix today.

♪