they have tanked unbelievably it is the message out there defense level small businesses 10-year low they don't have confidence they need america needs to get confident again our bids need to get confident why are why elevately important permitting reform get economy growing again, administration is not helping with this type 6 policy. maria: a right, having point out small business largesse of lending for small business comes from the regional banks, that is an issue, why we watch the regionals great conversation we so appreciate everybody's time buddy carter thomas hopeic pete najarian taylor riggs liz peek cheryl casone, dow industrials up 106 nasdaq continues to superior we will be back tomorrow with more good morning, everyone, this is going to be a big day.

james in court, biden in alleged bribery trouble and there is inflation, that's where we're going to start. last 12 months consumer prices are brought up 4% exactly 4.0%. that means inflation is moderating. last month, inflation is up 0.1%. that means the pace of price increases is slowing. bottom line, inflation has come down at the consumer level the last 11 straight months. this has implications for the federal reserve interest rate policies they made this week after these inflation numbers, they still think there will be a positive rate hikes. dow industrial this page, up over 100 points and nasdaq up 129 as we speak. that's because interest rates have come down a fraction on the consumer index news and that's helping the nasdaq. there's apple, it hit a record high backing off a little this morning. the company is worth the just

shy of $3 trillion. you will have to humor me on this one, i'm quoting manchester united this michael a published report his the former prime minister is the preferred bidder for the world-famous soccer club. another is owned by grove oil interest, saudi arabia buys gold, buying soccer. what you think of that? politics, with donald trump who pleads not guilty in a miami court today. authorities are geared up around the courthouse, demonstrators pro and anti- trump are out in force. big trouble for president biden. senator grassley says tape recordings show then vice president, his son hunter and a foreign national discussing a bribe. big trouble for san francisco shopping mall on market street is going to close, the city seems on the verge of economic

cultural collapse. former mayor gavin newsom wants to be the president. this was a shock to me, pat will will of fortune, he's been there since 1981. anna has been there since 1982. the most reliable people in television, always there. tuesday, june 13, 2023. varney & co. is about to begin. we have the latest inflation numbers. prices of 4% the last 12 months. good morning. >> we are not at the lowest level for headline inflation since march of 2021, so over two years. the problem is or inflation minus food and energy, stubborn core cpi came 5.3% from last m may. rent up 8%, new cars up 4.7% in closing costs three and a half% more than last year so in a nutshell, this is status quo report and the fed can do what they will when they make the

decision on whether to hike interest rates or pause. tomorrow about one 100% chance they don't do anything. stuart: about one 100%. >> they are not going to do anything. stuart: that's a certainty. [laughter] futures going straight up this morning on the back of the inflation report. jason is with us to watch the market. is that report by signal? >> a sigh of relief but not cause for celebration. it's not a pause, the operative word is skip. the great news is two years ago at 9%, we are down 4%. the bad news is the 2% inflation target the fed has completely and utterly arbitrary. if they would move the goalpost and concede inflation market down there as precipitous as they like and get 3%, we be off to the races did unfortunately that won't happen because the

consumers been so resilient, earnings so resilient they are going to skip an all-star, maybe not one 100%, they are going to raise in july. stuart: i don't get why they would skip, whatever phrase you want to use and they go back up again. >> just because inflation is up both 2%, it's more than that. there's so much more based on the jackson hole reversal where they started with transitory and then pivoted, the lost so much credibility as an institution, and they've told us this. they've been very clear, but rather go a little too far because they can always take it back and i think you can take it to the bank. they will raise in july. stuart: you've discussed the big picture on the market, but delve into some areas. is there particular group of stocks or industries which will benefit directly today because of this inflation report?

>> yes. stuart: which are they? >> go small or go home. go small or mid or go home. the emerging markets in the united states are small and mid-cap companies. small and midsize companies are tethered to the physical economy. those are the ones much more likely to benefit if we avoid this hard landing which today's numbers and employment number a few weeks ago really dictate so you want to go to where the puck is going, the most overused expression of all time but want to do that. why? out cap outperformed mid-cap right 23%. stuart: is there an etf i could buy that represents russell 2000 or some other small cap indicator? >> the banking rules, i can't tell you but it's easy to figure out. this s&p mid-cap and small-cap index. i would get it today.

stuart: that's specific advice and will take it. all good stuff. see you again soon. let's get back to politics which is the bread-and-butter of this program. speaker mccarthy weighing in on president trump indictment. this is a big deal, what is he saying? >> president trump is being treated unfairly and equal justice is not being applied since president biden also had documents in several places dating back to his time as senator. >> the idea of equal justice is not playing out so that's a real concern to all americans. we want to make sure it's equal justice for all. one side is being recognized and the other is being treated as policymakers we have a responsibility to bring people in to be able to see who's asking the questions to get the information to the american

public and i think that's important for us. >> 50000 people expected at the federal cap horse warehouse or trump is expected to plead not guilty to those 37 charges accusing him of mishandling government documents and conspiring to obstruct the investigation. it could provide a trump more favorable jury but it is a move by jack smith to show his case is strong, he can prove it in a red state instead of d.c. where is considered even more political. stuart: trump's response, he took to true social and promised if elected he will appoint a real special prosecutor to go after the most corrupt president of the history of the usa joe biden and the entire biden crime family. then dominic's with me now. if trump does win next year, do you think voters want him to focus on political vengeance against biden?

>> i think there is a subset of voters who do want him to do that and people are fed up with what they see going on and what they've seen the past several years in terms of weaponization of parts of the justice system against republican candidates who support against him as an individual, i think there's a lot of resentment buildup on republican voters and they do want him to chase after that. however, i don't think it's going to be the priority of those independent voters, swing voters and other republicans who may not all the way in on another trump around, they would prefer to see a return the types of policies they saw from him on the economy, energy and somewhat immigration, i certainly think they want him to do a better job completing those things he promised, delivering on those rings but that's going to be something we have resolved over the coming year through this republican primary that continues to be walked in

between trump, desantis and the rest of the field and i think that is the area we don't know how this will happen because we've made predictions about shirley's case will make people like him less, surely this development will change the attitude and it hasn't happened, i don't think it will happen but we might see a depth of 1000 scenario where people say they want to win, maybe he's going to too much in terms of legal battles he has to fight to focus on winning. stuart: trump's holding a fundraiser tonight in new jersey. thousands of protesters are in the streets in miami, florida three here's my question, some people say is prosecution secures the nomination for tr trump. what say you to that? >> i think it's too early to say. the choice to have this in miami is something that could be used as an excuse if ultimately the case fails, the justice

department can say it was a bad decision where i would expect a rally type atmosphere, very different when he was arraigned in new york but these cases i think are going to be a real challenge and a distraction when it comes to running an efficient campaign. stuart: i never that i would see the day when we've got this kind of presidential election staring us down, i never thought i would see this. >> it is completely out of the pandora's box in a lot of different ways and a complete moment in history i think we're going to look back on and study in the years and decades to c come. stuart: thank you very much, see you again soon. look at the futures, i see plenty of green left outside of the screen. thou up 120, nasdaq up 164 points. i guess investors favorable inflation and they are in a

buying mood. here's what's coming up, 2024 gop nikki haley slammed the democrats effort to hide president biden from going head-to-head with other candidates on the debate stage. >> it's interesting to see a president who can't debate can't sleep. i think they're trying to hide him as long as they can. it's not going to work, it's about the democrats making sure kamala harris the presidential nominee for the democrats. stuart: let me repeat what she said a couple of days ago, a vote for biden is a vote for president harris. former president trump soon, ashley webster is live outside miami, he brings us the latest after this. ♪

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former president trump will appear in miami federal court for his arraignment today. ashley webster is there. are all those demonstrators, are they all supporters of trump? >> no, in fact, this gentleman here is a popular interview, he's wearing in a prisoners outfit that says will come up but then you come over here among these reporters, there's probably more reporters than protesters, i'd say 20 to one margin, the sky kind of looks like the mayor of miami, a giant gold chain around her neck, in trump trust. this is the flavor so far today. i saw another group called

plaques for trump and on the back of the t-shirts it says trumpeters are not racist. as all of this is unfolding, the security is extremely tight as you can imagine. multiagency effort, federal courthouse, federal property but the agencies are all here. the fbi keeping track of activist groups online may be planning some sort of a protest, we haven't seen that yet but miami's mayor, francis soros says people have a right to protest peacefully. take a listen. >> we obviously believe in the constitution, believe people should have the right to express themselves but we also believe in law and order. >> we are preparing, bringing and resources to handle crowd, 5000 to 50000. we don't expect any issues.

>> less than six hours from now donald trump will arrive here. for now he's at his resort, a miami suburb and later on he'll appear here. very quickly, cameras lined up, there will be an appearance here in about an hour from now i think in defense of donald trump so we will follow that but a bit of a circus atmosphere to say the least. stuart: will get back to you later. now this, check ashley says there are tape recordings of then vice president joe biden, his son hunter and for executive discussing of bread. watch this. >> for national allegedly bribed joe and hunter biden, allegedly has audio recordings of his conversation with them. seventeen such recordings. these recordings were allegedly kept as short of insurance policy for the case he got into

a tight spot. 1023 indicates then vice president joe biden may have been involved in burisma employing hunter biden. stuart: j defense republican from the great state of ohio joins me now. for the first time, i sense somebody is going to be held accountable, what say you? >> i think that's exactly right. if you look at chuck grassley on the floor yesterday, he's making a number of extraordinarily dangerous terrifying allegations about not just what joe biden was engaged in but the fbi's attempt to cover for him because a lot of this stuff, a lot of was in these tapes, what chuck grassley is accusing the fbi of is there not being transparent with the oversight committees and u.s. senate about what's actually going on. the other thing that is crazy is even though we don't know what's in the tapes of course, we know beyond a shadow of a doubt that

joe biden lied to the american people when he insisted repeatedly did never participate in any conversations about his sons business dealings. we now know that's false. joe biden said he never participate in those conversations, clearly he did and apparently there are tapes of those conversations. stuart: of the bigger picture, how do you see trump versus biden situation playing out? a crazy situation which our country has never seen before. how does it play out? >> we have to step back and recognize donald trump is being indicted today at the very same time with extremely damages piece of information about the fact that joe biden may have been bribed to enrich his son and his family so at the same time the light was on joe biden and his family's business dealings, we are indicted his chief political rival in the u.s. this is banana republic stuff and gives further ideas that the entire sham trump

indictment is about distracting from corrupt business dealings of hunter and joe biden. this is never seen in his country before you use the justice system not for justice but for politics and take down a political opponent and distract from your own corruption. stuart: i know you are a trump supporter, do you see a clear path to getting the nomination and beating whomsoever the democrat opponent? >> i do. i think trump both was the best president and will be the best president against also the best political candidate to carry forward the conservative message in both the primary and general election but this is an important issue whether your trip supporter or not. i try to make this argument even if you don't like donald trump, you cannot sanction the department of justice selectively prosecuting him and laying off joe biden, that's not justice, that's politics and an assault on fundamental american

principal. stuart: great senator from ohio, thank you for being with us. appreciate it. i'm going to get back to the biden bribery obligations because my question, i believe some more evidence is coming o out. >> the head of the committee investigating it congressman james, said there is. here he is speaking of the fd 1023 and house republicans viewed in a private location last week. >> this was dated this last 1023 in june or july of 2020, three years before anybody knew about the shell companies and biden's were laundering money through six different american banks. in the 1023, it says the payee alleges pay the bribe to the biden's and no one would find it because the way they set it up, they transferred money through so many different thanks, it would take ten years for investigators to find out.

>> he's looking at the footnotes and the footnotes cite other forms so he's going after all of those forms to show biden might have been bribed as vice president. stuart: he's digging deep in other words. thank you very much. check the futures please because it's tuesday morning and i see green after a favorable inflation report. opening bell is next. ♪

the news on inflation is the ninth so to speak, for present consumer price inflation the last 12 months. investors like it, the stock market is up and guess who's here now, michael lee. michael is to be lawful. my question, because the suitable come raising that? >> i wish, i do however, think there's something interesting going on with a ice so when used takes a step back of the overall economy, we haver stocks but the

flipside you have this ai,its o. that raised the largest ever in the history of the s&p 500 : you have accenture government ai staff to 80000 employees, the next bellwether we are going to get be with adobe hearing about their product to see if it has an effect on earnings. stuart: are you allowed to name what you think are the leading ai stocks, are you allowed to do that? >> absolutely. the only real hard money indicator we have of ai so far was nvidia, the largest race we've ever seen so adobe started an image generation product, artificial intelligence, they

gave it for free and they will start charging for it so we'll see their guidance for that. if it's explosive, that's next. asm l is a component maker for nvidia and they should have a similar raise that saw so if these trends continue, we could see a situation for the economy continues to deteriorate but the largest players in the stock market, the ones that driving overall indices could have spectacular performance so you have the economy in one direction and stock market in another because the economy is not the stock market will stock market is not the economy so it could be a great situation for investors even though others might not be so good. stuart: ai keeps on popping up and you are right, it does leave this market at this moment. thanks a lot, see you again soon. about to press that button which means the market is over. i'm expecting to see a solid gain for the nasa certainly and elsewhere as well so we've

opened up, the dow with 63-point gain and going of the little. half the dow 30 in the green, half in the red. the split market right there but if you move on to the s&p 500, a stronger gain of .43%, 4357, thus the level on the s&p. hardly the.some were expecting. nasdaq composite a solid three quarters of 1%, a big game fish. let's look at big tech. apple is the only -- i wouldn't call that a loser, is down 57 cents but the rest of them, meta is up $3 and away we go. meta back again, alphabet up, microsoft of $3, amazon is up again. then we focus on apples because yesterday it was closing in on the trillion dollar evaluation. it should record high backing

off a little this morning. >> record hi, we're just below it if it was 18379. the evaluation is now 2.9 trillion, that's unbelievable. why is this happening? what did apple debut last week? the augmented reality headset, the next device and self but today unfortunately ubs downgraded publishers to neutral, they see demand for iphones softening, they raise their prices look at the same time, they still have the conviction, they raise it to 190 so if we get there potentially it's a new record high. nothing. stuart: that's nothing. let's get to microsoft and activism, acquisition in the works for a long time but the fcc ftc stepping in to stop it. what are they doing? >> federal trade commission says microsoft living dollar blizzard is illegal, they applied for temporary restraining order so the federal stop it. that's a big deal.

this is ftc, they fear microsoft would go ahead and try to close the deal friday of this week so they want the court to respond by thursday. if the deal is approved, it would be the largest acquisition in the history of your games. european union greenlighted after microsoft said it's going to allow popular games like call of duty for instance on rival services. microsoft sees the future of video games not with consuls but the cloud so if they have vision blizzard, they have game titles you can stream just like you would on netflix to play your video games from anywhere, from any device. >> strange that stock is up even though the deal has been blocked. >> microsoft is inviting it, for he used approval, they don't have the uk and might go ahead and if it fails, i think it means the deal goes through. stuart: a fine explanation.

>> it's been going on for over a year. >> amazon is up again this morning, is that again because they've got to utilize artificial intelligence? >> a lot of people when they buy an item on amazon course there's so many different items, which one do you choose? each item has like 1000 reviews, you go through and read all of james? some do but amazon will do it for you with artificial intelligence so it will sift through the pros and cons of the product and summarize it and influence your decisions to buy an item, i think it's great. just word of caution, artificial intelligence can sometimes write the reviews so take it with a grain of salt as we decipher new reality we are in. stuart: a big mover which is oracle, i saw five and a half%, this is about ai, isn't it? >> a record. oracles cloud to deploy their artificial intelligence so cute demand for cloud right now, cap

segment revenue jumped 55% in the quarter but is only going higher. not to mention government defense intelligence agencies, they are using oracle cloud because they feel it's safe and secure so boost for the company. stuart: this move for the stock makes larry ellison, a big owner of the stock, now the fourth richest person, number four. i don't know the exact total. >> i was going to ask, i didn't want to put you on the spot. stuart: amd from a they've got in ai super to. >> maybe it will cost less than nvidia but this is the word i 300, one of the most advanced gpu graphics, processing unit, its used to develop cap dvt. details later today, and he has a big event but nvidia dominates right now. 95% market share so everybody else is trying to get in and out

with a competition refreshing. stuart: we spent the last three or four minutes discussing ai so let's branch out to cap the wood. has she finally sold her tesla stock? >> she sold some of it through her investment funds. the specifics, 393,000 shares for about $98 million she's got so many shares this year, is just a portion of what her investment funds hold so she's not cashing in completely, just a little bit more than doubled in 2023. stuart: and african today, 255, how about that? coming up, the governor of california, gavin newsom was pressed on the homeless problem in california. will tape. >> this state has not made progress in the last two decades as it relates to homelessness. for years, i can't make up for the fact in 2005 we had historic number of homeless under republican administration. stuart: we will hear from san

diego county supervisor who says newsom's homelessness insanity fails taxpayers. back to terms indictment, is there a clear double standard? larry kudlow will answer that after this. ♪

a marcus this morning, ten minutes, hook ago. those of 187, nasdaq up about 101-point. get back to the trump indictment because is in agreement is set, this is history making. larry kudlow with us sweetheart democrats creating a double standard, larry?

>> yes, they are. indictment never even mentioned the presidential breakfast act and this business about espionage is an art, it's made of some the commands of this thing and makes no sense whatsoever. presidents, former presidents have access to all documents, classified or unclassified. any disputes here should have been between president trump and his people and the national archives should have been worked out, these are civil matters, not criminal matters. i'll say if you go back in history, the way bill clinton was treated, he had classified documents, classified tapes hidden away, never divulged, his wife, hillary, former secretary of state have thousands and thousands of e-mails, clas

classified, hid them from she tried to erase them and the standard of justice was that none of this should have to prosecution. you got joe biden -- i'm sorry commercial hits. stuart: i want to know you think voters will respond to this, this whole scenario, espionage, records act, it's all going to be played out in public on the world stage in the middle of presidential election. i do think the public full take this? to saturday on checks. >> so far mr. terms. at least on the republican side caps on of. hold over the weekend, i saw another won this morning so i think people see that biden and merrick garland are essentially weapon isaac the justice system criminalizing their opponents and i don't think the public likes that one bit. it undermines our entire system

and i think they are afraid donald trump victory will clean the correct stables in washington d.c. i think that's the issue all along. they are making this phony espionage charges against trump who is in his rights to hold these documents. joe biden illegally took classified documents as a senator and sitting vice president. he took them illegally, for to have the authorities. that is your double standard so you've got multiple double standards going back to bill clinton, hillary clinton, now joe biden so i see it as a politicalization of our justice system settle think voters will take well to it at all, frankly and i think mr. trump has done well because he has strong

economic message on drill baby drill on tax cuts, deregulation and all these things, that's what the polls are showing, this will be a pocketbook election and he's way ahead, he had a prosperous administration wants and can do it again and i think that's what people want. stuart: national the consumer price index which we saw this morning, i call it nine, level of consumer price inflation keeps on coming down 4% year over year, i call it benign, i think we're going down in inflation rate, what say you? >> i agree, i think the collapse of the money supply chain the start inversion of the yield curve and solving trend in commodity prices, gold has been steady. i think the fed should cause a

look, give it another month or two and whether the job is done or not. monetary legs are long and variable, milton friedman taught us all that, the fed has done a tremendous job. maybe sleeping dogs lie, but see the evidence that comes in. stuart: got it. thanks very much. we will watch for each of this afternoon on foxbusiness, thanks, larry. could there be a field reunion paul mccartney says with a little help from ai, they created the final beatles record. we will bring you details. next guest, gender studies professor failed her because she used the term biological woman. the city shares the story after this. ♪

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

there's one county in wisconsin that wants to declare itself a sanctuary for transgender children. what exactly would that do? >> about everyone in the county including kids access to hormones, puberty blockers and gender transition surgical. it's in wisconsin, they say it is the fundamental residence, the board of supervisors will vote thursday of this week. there was a local investigative series they reported more than 250 kids received puberty blockers or hormone therapy recently from two of their hospitals. based on the anguish of this resolution, i can't tell if you would need parental consent or not but i'm assuming it would be a no. opponents are saying surgery is a big deal, just let the kids come of age and make this

decision. stuart: they are actually doing surgical change and administering hormones but with age of the kids? >> children so the pubescent assuming. i know they did 15 top surgeries or whichever way you want to go the past couple of years and more than 260 hormone therapies or surgeries and that's just two of the main hospitals. stuart: dane county in wisc wisconsin. >> boat is on thursday. stuart: we will follow it. my next guest is a student who took a gender studies course, she says the teacher gave her a zero, a failed on her paper about transgender athletes competing in women's sports. the student is olivia and she joins me now. were you failed because you used those to words, biological women

ask. >> i was, i was told i was contribute to heteronormativity and was exclusionary. stuart: can you explain that? it's wrong to use those two words because -- say it again. >> they are illusionary and contribute to heteronormativity. stuart: what does that mean? >> that's a good question, i don't know what half the words my professor uses. stuart: did you ever come face-to-face with the professor and can you say she? did the professor explain what you've done wrong? >> this was a virtual class so we exchanged e-mails and i was told the words ultimately were trans public and not allowed because they didn't line up with feminism she wanted the class to focus on. stuart: you failed because you

did not agree politically, is that basically it? >> i failed the project which would be half my great but initially i failed and then i spoke with someone at the school and the grade has been fixed as of now. stuart: the grade has been fixed, what does that mean? >> they had another professor come in and grade my project so my grade was incomplete in the grade book but i think it will be switched in the next few days if not already. stuart: what do colleagues say about this? >> i have gotten a lot of support from people on social media and a lot of people are supportive that i'm speaking up about this but of course there will be hate from the other side but i ignore it. stuart: you are getting hate from the other side? how is it expressed to you? e-mail, social network, face-to-face? >> it's been through comments

and dm, private messages and i do read some of them and it's funny because the words i'm called are big or trans public so those words have lost all meaning to me. stuart: do you think you are trans public? >> not at all. i don't care how someone wants to present himself or change their name or choose to use pronouns or anything like that but when it affects my grade because a teacher doesn't agree with my opinions or the words i want to use on paper, that's when it matters. stuart: was anybody else failed for using those words? >> i don't know about and went specifically in my course but i've had a lot of people come up to me especially at universities saying it's happened to me before, even this specific professor, she came out and did an interview herself and released her name saying she's bragging about i've done this to students before, i'm trying to remove these words from my classroom.

stuart: thank you very much for being with us. very interesting story. see how this goes. see you again soon. back to the market, it's a nice day, the dow up 160 points, well above 34000 level, that's the big board. look at the winners, we've got some doubt inc., caterpillar, chevron, all up nicely today. s&p 500 winners, freeport, oracle, a huge gain for oracle. nasdaq composite, at the top there, 7% gain. these are china computer stocks and they are all up today. still ahead, doctor marc siegel, brian kilmeade, former ambassador to nato and neil sure, the 10:00 hour of varney & co. is next. ♪

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