no lack of challenging questions we belief as to him i thank all of you for joining us douglas holtz-eakin, kang ma'am dan meuser adam johnson tiana lowe doescher thank you so much take another quick look at markets before i send it to stuart because the market could change on a dime, when we get the fed decision 2 pm eastern right now dow down by 90 nasdaq higher by 8 s&p higher by 3 1/2 pretty sure safe at this point stuart as i bring you into all this everyone looking for a pause today. on interest rates, but july i am going to use the word stuart jump ball i am afraid the jump ball of kind of day. >> word of the day jump ball i will try to use it throughout next three hours thanks so much good morning to you for investors, this is a big day. new inflation numbers and a call on interest rate.

4% inflation consumer level this morning, 1.1% inflation at the producer level. producer price index is coming down rapidly. month over month prices fell 0.3%. ask the fourth monthly crime. this shows the pace of inflation moderating. we'll see what it means for fed and interest rates this afternoon and that will probably move the market. here's the markets initial reaction to the 830 numbers, the dow will be down 80 points. s&p and nasdaq showing very small gains. but going now at $25000, that's the level crypto doesn't seem to be doing. $26028 to be precise. interest rates, the fed widely expected to take a pause with rate hikes, the two-year, 461 is down, the yield is coming down and the tenure, where is that? 378.

again, that is down. i'd like to quote the one-year treasury giving 5%, 5.23%. it seems like a bargain to me. new jersey, donald trump rallied supporters and donors after his court appearance. he struck a defiant tone, aggressively attacking the federal charges and justice department. after the speech, trump entertained donors reportedly raising around $2 million. some negatives here, the new york times said his performance last night was low energy. what? okay. this morning the "wall street journal" continues critique of trump with this editorial. the self-destructive donald trump. have got another, trims seemingly endless parade of legal troubles, it will stretch in three states, florida georgia new york. so far, most polls show supporters grown. will that last? hillary clinton responding to

jump, she called the gop colt that reminds has some of the deplorable speech she made right before the 2016 election which did not go down well. wednesday, june 14, 2023, donald trump's birthday. he's 77 today. varney and co. about to begin. ♪ ♪ stuart: ain't no mountain high enough. i'm trying to figure out how the producers are trying to tie that song into a news item. do you have any ideas? tried to hide yourself into the computer. [laughter] >> some would say something in

my ear and they don't understand. [laughter] stuart: okay, move on. 1.1% the last 12 months, tell me more. >> inflation in the pipeline coming down. a huge drop at the wholesale level. maybe eventually it will tired. the 11th straight decline in the annual inflation rate 1.1%, the lowest level since december of 2020. this is good news. 11.7% in march of last year so it's come down. where is the decline? gas fell 13%, eggs, vegetables, iron, steel all gone so the bottom line is materials businesses use are costing businesses less so the input is going down but outputs are going down because they are still paying their workers a lot of money. i think the report is good news. stuart: thank you. i want to check futures, the dow down tiny gains.

that could change this afternoon of course. special guests, eddie deboer is with us. november 2021, eddie has told investors to stay out of stocks. i believe you are about to reverse that. are you about to say now is the time to buy? >> i'm not saying now it's time to buy but i'm saying our call we made that we would hit new lows this summer, we are forced to pick it out of that. we were wrong on that call when the fed came in and the fbi see came in and backstopped depositors when thanks eldon mark, we should recognize him as a massive stimulus pushing back the recession in the market being into new their market territory so if it would get follow-through we will be buying dips in july. we need to see the cpi number, we need to see gdp and see how

the market reacts. probability of new lows the summer more than likely not going to happen and we will look to deploy cash in the summer months buying dips once we get through that. stuart: are to give you full credit because you been on the show virtually every week, more than that sometimes and you've consistently said get out of the market and now you're being honest and not exactly reversing that the telling us what you think. full credit for that. so tell me, what are you likely to buy come july? >> would want to buy areas that fully participate in this market rally. we still aren't saying it's a new bull market but we can't stay here and deny the momentum so we will look at small caps, energy continues to get beaten up and then look for entry points at tech. the beauty of our strategy is we

got between 385 and 395 so even with this rally we are still below those levels so we can probably get in entry points eight, 10% below that and still well below small-cap so a good position which is why we are able to be more patient than many who lost a lot last year end now we are in a position where we will capitalize on these. stuart: will kind of response did you get from your investors? >> our investors have been happy. the ones that are nervous the ones that have been with us the last two months but we are taking on new, it's in the new clients have said if i would this into you back in november, even with this rally, i still would have been ahead and that's honest because these bowls if they were bullish last year even with this rally, they are probably not even close to back to even so you have to be able

to pivot when the data changes. the data hasn't changed the market hasn't changed. stuart: thanks very much, eddie. you are an honest man. pleading not guilty on all counts at the miami court. trump flew to new jersey for fundraising. >> he got a hero's welcome at as he took to the stage in his golf club with god bless the usa blaring, he said he's innocent and biden administration should drop charges immediately. he calls another attempt to ring and steal a presidential election but despite the gravity of the charges, trump treated as a campaign event. he was serenaded by his supporters and they say happy birthday. he's 77 today. [cheering and applauding] >> happy birthday, grandpa. [laughter]

>> 400 years. how long is the trial going to be? long. it's going to drag into summer, likely into the thick of the presidential race. technically he could pardon himself before the case even goes to trial. [laughter] stuart: the speculation is endless amount. >> it's fun. would never seen this before and hope we never do. stuart: last night trump lashed out at president biden and the department. >> this is called election interference in another attempt to rig and steal a presidential election. more importantly, a political persecution like something out of a fascist or communist na nation. this day will go down in the me and joe biden is not only the most corrupt president in the history of our country but perhaps even more importantly the president who together with the band of his closest thugs,

misfits try to destroy american democracy. stuart: strong stuff, governor, the "wall street journal"'s editorial board calling trump is owned worst enemy. here's the quote corrupt the title of the piece is self-destructive donald trump. that's pretty harsh. what say you? >> donald trump doesn't have a lot of friends in the press but in the american people and the number is growing. what we saw yesterday was an outrageous assault on the process of elections. this is not about donald trump having documents and have read the indictment, there are some troubling things, things he said but honestly, is this really where we are headed as a country where a former president is indicted because he has boxes of material? joe biden didn't get indicted,

he stopped him down his pants and walked out and that was criminal and nothing happened. here's what i predict, donald trump is like the third monkey on the ramp to noah's ark and brother, it's starting to rain and this is one monkey that's going to fight harder than any monkey fight. stuart: you're right, it is growing but will it continue to grow as court appearance in charges and trials are laid out over the next year? >> it will and here's why. people recognize this is a political trial, not a trial about criminal activity that endangers the united states this is about the attempt to prevent donald trump from becoming president because the deep state fears that this is a man who would be on a mission, this is john with part five ended donald trump is selected, i think they are fearful he will go to

washington with the vacuum cleaner and clean the place out and get rid of people and institutions long overdue for being scrubbed off the face of the concrete. stuart: third monkey in line to the noah's ark and is starting to rain. that's one i should rule over. next case. a reporter asked the white house with the message would be to parents that the daughters can be issued injured by transgender athletes. >> what you are alluding to is basically saying transgender kids are dangerous. you are laying out a broad example or explanation of what could potentially happen. the broad example, that's dangerous. stuart: will get into that. trump was arraigned without hiring new lawyers so what's the problem here? one of the remaining pretty

jesse is next. ♪

♪ stuart: that looks like wild new jersey. close to where trump was speaking. >> the last time i was in wildwood was in my high school prom. [laughter] stuart: just yesterday. [laughter] donald trump using his indictment to rally support and raise money for his campaign.

ashley webster is with us. a huge platform for fundraising. how are his competitors keeping up? >> that's a good question. it's a conundrum because if you're someone else in the gop race, you want to support trump and fight against the justice department received as operating political interference. on the other hand it's like to get a message that resonates with conservatives but different to donald trump, it's no easy task. one of the gop contenders decided to come here yesterday and hold a news conference right in front of the courthouse and he said he was there to call on his gop rivals to join him pledging to pardon donald trump is convicted in the federal documents case meaning that's one approach. it's interesting but donald

trump is always campaigning and even as he left the courthouse yesterday after pleading not guilty to 37 counts, right there he made a surprise stop at a cuban café and met with locals. he prayed with them and took selfies and they sang him happy birthday. this is right after he left the courthouse and then straight back to his resort in new jersey where he told us, supporters he's running to protect the american people. >> they want to silence me because i will never let them silence you. they want you silenced. on the only one who can save this nation because you know they are not coming after me, they are coming after you and i just happened to be's standing in their way. [cheering and applauding] >> classic donald trump. he sent out an e-mail you can

see here and he places possible 400 years in prison and at the end of that he says i cannot believe i typed those words to you. never a dull moment when trump is around. and gop candidates trying to win, he sucks the oxygen out of the room, does he not? stuart: he really does. [laughter] now this, donald trump and his legal team yesterday afternoon interviewing lawyers trying to get them join the team ahead of the hearing. jesse fennell has been with the trump team for some time. i can't trump's team find new lawyers? >> if you look at the wires the yesterday for an administrative hearing, something that wasn't substantive he didn't have to go with an army of lawyers, four, he had to extraordinarily good

lawyers. there will be plenty of lawyers i'm sure that will be used to stepup the case long run but right now it's not what like a fire worry you need a bunch of lawyers on staff immediately. the important thing is the president is selected and the right lawyers for this case. stuart: you say long run and i've got suspicion we are looking at the long run for trials, charges and cases going forward. i would have thought it's a problem for donald trump that he could lessen his support. you're going to disagree i'm sure. >> absolutely i'll disagree. donald trump is focused right now on protecting the american people. this is not going to distract him. that's what these armies and prosecutors that know you can't be be at the ballot box, they hope to distract him.

it's not going to work. i've never seen anybody more focused and dedicated can donald trump is so this may be a long process and there may be things about lawyers are but donald trump is focused on the important parts and that's standing up for the american people. stuart: thank you for being with us this morning, i'm sure you are a busy man. appreciate you taking the time. once other gop candidates to pardon terms of elected. where does nikki haley stand? >> she says she's inclined to pardon donald trump. >> i think we all need to let this play out and see what happens but when you look at a pardon, the issue is less about guilt and more about what's good for the country and i think it would be terrible for the country to have a former president and prison for years because of a document case. that's something you would see

in a third world country so i am in favor of pardon but it's premature when he's not been convicted of anything. >> such an awkward position. going to appeal to the trump supporters, the base with thinks it's political persecution but acknowledged his actions to quote nikki haley were reckless. haley is critical, mike pence a little critical but then others are saying nothing. stuart: good stuff. a little complicated as we go forward. >> when you think about the crowd in florida, many people who live in south florida, came from countries with bigger present governments so they are likely to want to pardon donald trump. ramaswamy who will pardon trump and wants charges to commit to that, he will be on your show at 10:50 a.m.

stuart: this show. >> i will move for you anytime. stuart: wednesday all day. the downside move, everyone waiting for the fed on interest rates. opening bell is next. ♪

future suggest makes market at least until we hear from the fed this afternoon. dow down about 100. lucas here -- shark along is back. the second most hated bull market in history but are you buying it? >> we have no choice, investors stay on the sideline will wish this is probably as good a time, i still think it's a risky position but again the last bull market in history was the most hated bull market in three years

most people stood on the sidelines watching the header for addicted to waiting for. i was saying all along that i every did. this looks to be the beginning of the most we just reached bull market territory and it constitutes couple market hearing and reading about him on the sidelines we might see homo may have started in stock for go higher. it doesn't matter the headman, as a matter of where the money is coming from. a lot of stocks undervalue and i don't care about the big seven. they deserve to see these stocks. stuart: just like the good old days. tell us, what are you actually buying now? >> if you want to get in the market and you are not right now, the triple q, the nasdaq

100, the leadership sector so if you're behind and want to catch up or go forward with? likely to be the leadership and best performing stocks, go with cute cute cute as a market proxy. as far as individual names, five favorite ddn, i really liked energy plays that have come d down. there was buying. a huge dividend 7.62% so -- over 9% dividend now. 32% profit margin, a tremendously run company and healthy dividend. the other stock i like is another energy type play in terms of minerals and resources, that's a 7.6 dividend yield. stuart: i love that 9% yield.

shah, you're all right. the market has now opened sharply. 150-point loss there. look at the dow 30 -- one of the stocks must be a huge leader. >> united health is down. stuart: mcdonald, apple, they are all done. 182-point lost despite the fact that producer prices in the last year have only got up 1.1%. >> united health is warning of higher costs. they are at a nine-month low so our prices really coming down? not for united health. stuart: the s&p 500, it's down dead flat. the nasdaq pretty much the same story down 0.09%. i want to see big tech, two winners -- meta and microsoft not winning by much.

apple, amazon, off a bit on the downside but not by much. i want to start with nvidia, they joined 1 trillion-dollar club. the stock before this performance is up 180% just this calendar year. >> down 1%. that's it. a trillion dollar company, they closed yesterday seventh u.s. company to have a market cap of $1 trillion so if you're county, they are not all there now but apple, microsoft, amazon, google, tesla and meta. can they stay at $1 trillion or is this type just that? hype. everyone is buying in right now, what happens in a couple of months that's it's likely the fed pauses in the interest rate campaign. that is good news so help is on the way potentially. stuart: 95% of the market things

there will be a pause. >> 92%, i checked two seconds ago. stuart: a and d, i believe they have some clean the super chip did i believe amazon once in and that's huge met. >> that's why they are hiring today because i got the news of nvidia ai chip competition yesterday and the stock fell three and out upset because they have no customers lined up. writers were due have amazon. amd is hiring today. i think the pumas this. ai has evolved, a product launch isn't enough. investors want to see proof of monetization. you got something with bells and whistles but how do you make money, how is it different from the rest? stuart: i see another turn in microsoft's attempt.

can you keep this short? >> a win for the ftc now. at judge granted their request to temporarily block the $69 billion takeover of the call of duty maker so microsoft said to close the deal despite opposition come this friday. that's not going to happen now. what's next? a hearing next week. stuart: are not sure microsoft investors want the company to spend 69 billion on electronic games. >> you need the games to make people sign up for multiple devices to stream the games. i actually agree with you, i'm just presenting the other side. stuart: show me tesla because it's gone straight up. down today but they are raising prices. >> the third price increase for model license april. small increase to $50 so the car will start at $47740 for the

$7500 federal tax credit but the increase suggest price cuts might be over and demand remains strong but they had been higher 13 straight days. stuart: we said shah was on, i believe shall and another company raising dividends. >> the bigger story is relatively new ceo saying where the company was headed doing it big renewal and they are keeping oil production, output will not be cut. he wants to bring back investor confidence and another way is to increase your dividend so up to now%. stuart: i'm interested in go google, i know they got backlash because they got an updated

return. what's the problem? >> employees were told come to the office three days a week and i guess they were listening because now they're taking their badge meaning they know when you swipe in and schlep out of the office and not only will we check your badge, we will use your attendance for your performance review so you might get dinged because you didn't show up three days a week like you are supposed to so if you work for google and say i've been home three years and i'm productive at home, i don't want to come in three days a week, you are annoyed and feel this is management overreach. stuart: maybe they want to get stuff. >> who has the upper hand? there's big news on google, we give you the talking part, they want to break up google ads, they alleged anticompetitive, online marketplace that stupid so they are joining the u.s. say it's anticompetitive.

stuart: disney, i know they have a shakeup but the movie rel releases. >> a lot of people hope for big expected black book festers in part of the reason is the hollywood writers strike so the third, fourth and fifth avatars are being pushed to christmas 2025 and go all the way to 2020 -- 2031 perspective. marble is getting pushed back so the next current captain america is next july. thunderbolt is next december. there's another star wars but you have to wait until 2026 so why is disney pushing back all of these releases? stuart: i can never explain disney. >> elemental coming up this weekend. it is a pixar film. i'm excited to take anything for the kids.

stuart: i forgot what it's like to have little children. >> the little mermaid was okay. stuart: coming up, here's the response of top democrats responding to biden's age. >> do you think president biden's age is finally catching up to him? >> i'm proud of the job he's doing as a leader. >> president biden is wrong. >> i think the president is great. i'm proud to be supporting him and i don't know why you would ask that question. [laughter] stuart: liz peek who do not have much time president will -- she will take it on at the top of the hour. another deplorable, trump supporters are more the cult. i wonder what byron donald think. he's a republican, a congressman and he's next. ♪

some of you may be wondering why the dow industrials are down 154-point. i've got an explanation, unitedhealth is the stock, down 7.8% and it shaves to 60 points of the doubt industrials so if it wasn't for unitedhealth, that i would be up. miami's mayor spotted outside the federal courthouse with trump being arraigned. how did the crowd react? >> he was called swamp monster and deep state trader. he went to the courthouse yesterday because he's a man and wanted to make sure everything was orderly.

>> deep state mayor. the got a want monster. swamp monster. the swamp is getting taken down. >> swamps getting taken down. stuart: why would they call him that? >> he reportedly did not vote for trump in 2020 and might toss his hat in the rink tomorrow to also run for president. stuart: i don't think that many people are having. voices. >> unexpected in my opinion. stuart: hillary clinton weighing in on the trump indictment once again insulting people who support them. >> the response we've seen in pulling from republicans suggest they will stick with them, it's

more of a cult than a political party and they will stick with their leader if they refuse to read the indictment, refused to engage with the facts. their efforts to defend this man. truly beyond anything i ever thought possible in our country. stuart: byron mcdonald's as a republican from florida and he joins me now. you are a drunk guy, how you feel about being told you're in a cult? >> i stopped caring about what hillary clinton had to say long ago because he lost a long, long time ago, she is largely irrelevant as far as i'm concerned but a broader level since she wants to engage, allow me to engage. hillary, you live multiple times, destroyed e-mails, destroyed evidence and longer phone information you know is phony into the intelligence community because you are scared you're going to lose. you did this and still lost some

not going to listen to hillary clinton where should and should not support because she lied to the america people repeatedly and use our institutions to spy on her rivals campaign. yes america, she did that so people like talking about watergate, look no further than hillary clinton and crossfire hurricane. stuart: that's the last we will say about hillary clinton in this hour. thanks for bringing it up. mr. trump is involved in multiple legal battles right now. regardless of the final verdict, you will be tied up in court for years. some republicans are starting to pull away from him worried about the legal circus that will stretch on a couple of years. are you pulling away from trump at all? >> i'm not pulling away, i talked to him yesterday. he was a good spirit although not happy with this foolishness and i think the operative word you used is circus because it's what this is. he talked about alvin bragg

stupidity going on in manhattan, we know it dumb and irrational and political. this is serious, you're talking about sending a 76-year-old man to jail basically to die in jail because he had documents at his house and he's a former president. guess what, every former president has documents, they've all taken hiake with them over a five-year period. that is the law, they are allowed to do that so for the department of justice and biden white house and i will say for them to criminalize this and turn it into a massive obstruction damaging our national security, that is a flat out joke and the reason i say that is because too many pendants on tv, too many news anchors, too many reporters get leaks classified information all the time from elected officials and members of the intelligence community. i can say that with certainty

because i've read classified information being reported on the news so i know these leaks occur so to see donald trump to the core of our national security interest, it's a joke. people who want to be distracted by the circus and that's true, they are trying to move on, they been waiting for an excuse to move on and using it as a position to do so. stuart: donald trump, republican from the great state of florida. thank you very much for joining us. see you again soon. president biden likely to face off with either donald trump or rhonda sanders in 2024. how does biden do against either of them? >> he went not by much. usa today poll shows biden the victor, this is the rematch with talk trump in 2024, biden gets 24% of the vote within the margin of error. enough of that, biden versus desantis, biden 33, desantis for

the behind, down seven, 26%. what's interesting is 25% would take the third-party, the independent candidate so overall, one in four of us are not happy with the choices we have. stuart: that implies the third-party would take those away from desantis rather than the democrat joe biden. thus the implication in that poll. >> it's more even but nonetheless, yes. stuart: i know some polls show trump gained support recently but there's a long line of hearings and trials stood to come, it will drag on. apple voters feel? that's my take coming up at the top of the hour. president biden boasting about inflation. critics say we are still getting hit hard at the grocery store. we have the latest and prices after this. ♪

♪

president biden celebrating

yesterday's inflation report touting the fact that consumer price index smallest annual increase in two years. lydia is here. inflation is calling, a credit. still head of the grocery store, tell me about the basics. >> across the board, of more than six and a half% a year ago but think about inflation. it's compounded here over your for paying a lot more now two years ago when biden took office so take for example, serial, i hope you like cornflakes. prices of 9.3% over a year ago but last year the look back then, 12.8% over a year before so that means the price of serial is about 23% more than two years ago right after president biden took office. some of the trends for bread and butter and household families, we've got kids, it starts to add up and that's not all.

not the compounded effect of inflation but wages are not keeping up with inflation all the way back to april of 2021 and speaking with the congress, they tell me it's effectively a pay cut for workers. >> most workers are in fact worse off financially than a year ago and that is drain consumers, it will drain their savings and will hit spending. >> that's the problem because spending sometimes, we've got a big problem for the economy because consumer spending powers are economic growth and we do know consumers are keeping up right now doing a good job but they are doing it on credit cards and interest rates are surpassing 20%. no concern about how much longer it's a sustainable. stuart: every time i walk into a grocery store which is frequently and i'm paying, somebody next to me is fuming about the price of bread or

butter or tomatoes or whatever it is, it's the grocery store but inflation hits you in the face. >> and there's nowhere to hide, we've all got to eat. stuart: thank you very much. the markets, quick. i see some red but not as much as a have been. down 100 on the dow, we had been down 150. in your treasury, the guilt is down 3.78%. that's going to change when the fed announces interest rate policy this afternoon. he was the movement. price of gold well below $2000, now 1970 to be precise. this morning i had it going at 25000, that's where it is now. oil, where is that? seventy dollars a barrel. what are we doing? still ahead, listen peak. he's going to be on the show. doesn't have much time for joe biden so you might hear about that this morning. texas congressman join us, martha mcallen along with will

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♪ stuart: let's get straight to it