♪ stuart: let's get straight to it.

it is 10:00 eastern. let's get to the money. a mixed picture. the dow was down one hundred points. a lot that losses accounted for by united health, a loser on the market dragging the dow down. modest gain for the s&p, modest gain for the nasdaq. when we get news from the fed, treasuries 10 year yield is down to 3. 79%. the price of oil right around $70 a barrel, bitcoin 25, $26,000, 25-9 to be precise. not much action until this afternoon when we hear from the fed. i wonder how voters will respond to trump's legal trouble. some polls show he has gained some support recently but there's a long line of hearings and trials to come. it is going to drag on. how will voters feel about

their. if he gets a speedy trial in miami, it is done in 70 days. that is not going to happen. the lawyers will be fighting all kinds of emotions which will keep things going probably through the end of this year. in georgia the fulton county da is investigating his alleged election meddling, charges expected by september 1st this year. new york's attorney general letitia james will take trump to trial in october this year, she alleges misleading asset stormy daniels is expected to be up for trial in march next year. he jean carol wants another $10 million on top of of the $5 million she artie won. that's a very full legal schedule and because it is truma will follow every move with glaring headlines. it's a deliberate democrat

strategy, use any pretext whatsoever to drive trump into court, distract from age, distract from the bribery allegations and above all distract from the obvious danger of a kamala harris presidency. the election is 500 days away. it will be a test of american democracy. second hour of varney just getting started. ♪ thank goodness liz peek is with us, donald trump's indictment is going to turn the 24 election upside down but not in the way democrats hope. on your screen, that is lose peak. explain. >> reporter: you said very well this is all of you station, trying to take all the attention from president biden. he has to run on his record

this time, there is no basement strategy, no covid opportunity to stay away from the press and avoid large public gatherings and all the things he did in 2,020. now he has to be a normal candidate but he's not a normal candidate because he is running on a terrible record he has so, and his age as you point out and the possibility, as nikki haley pointed out that kamala harris might be who you are voting for. the strategies this. row up one thing after another that gets the media in one direction. i looked at some numbers, the media literally, drop this indictment on the day president biden was credibly accused with an fbi informant they used for a long time. congress talking about a bribery scandal that under other circumstances should have riveted the nation and lead to headlines, they barely mentioned it. it is so appalling you. what i said in this piece is

the strategies to make sure trump is the candidate. that is working for them because his lead has extended. he is raising tons of money and we can him in the general election but the question is is it going to work? i know a lot of people who are not trump fans who are furious about this, the double standard of justice, the fact that biden has stepped over every norm imaginable and accusing the president of something he himself has done. i remind viewers president biden's papers, no acclamation house-senate papers, he's not allowed to have, top-secret information ended up in his possession. that is the question still out there. i am mad about it. everybody should be. stuart: i am going -- they are standing -- democrats are

standing by president biden as concerns rise about his age and lauren: serve another four years. hillary vaughan is back on capitol hill. you rest some leading democrats about this. tell me how it. >> great to be back. we talked with democrats about it and you are not worried about it but some voters are. president biden is already the oldest president in us history. if he was on the ticket in 2024, some voters are not sure they want to have the oldest president on the ticket. a new quinnipiac poll found 65% of registered voters believe biden is too all to serve another four years if elected in 2024. biden has taken a few public tumbles as president and physical fitness, he had to miss work on monday to get a root canal canceling his public

events and postponing a meeting with the nato secretary-general. kamala harris had to fill in at an event with college athletes. despite biden's a day, democrats on capitol hill are brushing off his age when we asked about it. do you think president biden's age is catching up to him? >> i'm proud of the job president biden is doing as a leader. >> reporter: he had to take off work for a root canal. does he have the stamina for a second term? >> have you ever had a root canal? >> are you worried president biden's health maybe catching up to him? >> no. >> reporter: are you worried about his stamina that he would be able to for survey for second term if elected? >> same answer. >> you think president biden's age is caught up to him at all? >> absolutely not. i think the president is great. i'm proud to be supporting him. i don't know why you ask that question. >> reporter: does he have the stamina to finish a second

term? >> yes and please don't bother me with such things. >> reporter: some democrats do not want to be bothered with this age as a factor for biden but it is not just democrats having to face this reality. if donald trump were elected in 2024 would also be the oldest president ever. stuart: don't bother me? see you again soon. liz peek is high immediate left, not politically. democrat leaders you just heard from said they are not concerned about biden's age. i don't believe them. liz: asking about president biden's age is like asking about fraud charges, kind of ridiculous but they are in high panic mode. when 60, 70% of the country thinks you are too all to run

and evidence of every day and all people responders with that phony little job that shows how vital he is and watch me comments, we are watching and it doesn't look good. i think this is an issue for him but much more important is what he weapon eyes the department of justice to go after his political rival is an extraordinary situation and hope the american voter is as offended as i am. we have never been here before. stuart: we want to follow up on kamala harris and what voters are thinking about the vice president. do you think she can step in for biden if he can't finish a second term? lauren: they think she can step in and are very comfortable with president harris. 86% are in favor of it. this is quinnipiac. 53% say they are very comfortable with harris taking over for biden, 32% somewhat comfortable, 9% not at all.

it is astonishing because her approval rating is 37%, how are they comfortable with president harris. democratic voters. >> democrat voters and that paul. >> you would think they would be a little bit uncomfortable. it would be -- republicans and independents. lauren: i have no problem with president biden being 80. it's not the age, it is our vibrant you are. no problem with that. you have a couple more weeks. 74. stuart: let's get back to the market and look who is here now. david stravinsky. we are having too much fun. the fed meets today. if we get a pause and most people think we will get a pause, does that mean the market rallies further from here?

>> the markets looking 12 to 18 months into the future so will respond favorably to anything perceived to be positive news. i expect to see a short-lived rally likely seen 3 other times, but the expectation, following a pause that we get a pivot narrative that they will drop and reduce rates as fast as they raised them. in my opinion that is probably a false hope. it takes 9 to 12 months for rates to get into our economy so we are likely not to see the pivot follow markets price that in. there has been positive news, headline cpi, very lows but 9. one% on this inflation. that's an improvement. if we look at core cpi that' s a different story. currently at 9. 3%, increasing 0.4% over the last three months.

these mixed results tell me the fed's mission is not over yet. but when you are not saying get back in, use the cash, jump back into stock, you are not saying that? >> don't think it is the time yet. inflation will remain higher longer, we are seeing the core number be sticky. we've not seen the anticipated recession going into full motion. we are not going to see that pivot, but start the market rally until we can get to the 2% rates or we see something break like our banking industry. the financial crisis is beginning to start and i'm one of the outliers saying this stuff but people need to pay attention because the results are showing up as we see every day. stuart: you are an outlier but i respect your opinion.

thanks for coming on board. we appreciate it. lauren is back, got to have news on this. 7%, down 12%. lauren: management at healthcare conference, spike in medical costs in the second quarter, more older adults, 65 and up are getting nonurgent procedures they delayed because of covid like knee replacements and hip replacements. that's taking down the stocks with other insurers like aetna. ashley: what we have so far? lauren: it is up 3%. et rg set a straight high-priced target of $14, stock more than doubled this year. they are betting shares can go up 45% come october when student borrowers do that. stuart: estée lauder is not a stock wavered recently.

>> they say they are growth markets, china well poised. stuart: do you know i use that product? makeup and all. estée lauder. lauren: it is not mac? stuart: who? lauren: i am going to get the proof militarily. stuart: you can't win. biden's health secretary defended his decision to mask up 2-year-olds during the pandemic. watch this. >> forcing two-year-olds to wear masks save lives? >> making sure people were masked when it was appropriate was essential to make sure we could get out of this pandemic. stuart: doesn't this contradict the science? we are all over this. senator jack grassley says burisma had millions of dollars, 17 recordings proving the supposed transactions.

we have the details. donald trump slams the justice department and president biden after entering a not guilty plea in federal court but the white house is staying silent. the latest on trump's classified documents case. ♪ ♪

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stuart: donald trump pleaded not guilty to 37 charges in federal court yesterday. jonathan seri will tell us what happens next. >> reporter: good morning to

you. first of all the court must schedule pretrial hearings and also determine the venue, whether the trial will be held here, the federal courthouse in miami or closer to mar-a-lago like west palm beach. because the case involves so many classified documents donald trump's new legal team will need to get security clearance to access them. >> there isn't going to be a trial before the election. i've never seen a classified documents case where the speedy trial act has been able to be applied even if a defendant wanted it. >> reporter: the former president entered a not guilty plea in federal ct. in miami but his codefendant and personal valet could not because of a requirement to have a local attorney which he's in the process of hiring, he will face and arraignment on june 27th. all this is playing out in the course while donald trump is campaigning for a second term

in the white house. instead of hiding from his legal troubles he plays in front and center in his campaign front and center. >> the sitting president, political opponent arrested on fake and fabricated charges of which he had numerous other presidents would be guilty, right in the middle of a presidential election in which he is losing very badly. >> reporter: donald trump continues to lead a growing field of gop contenders. stuart: yes he does. senator chuck grassley says the burisma executive behind biden's alleged bribery scheme, 17 audio recordings of conversations between him and members of the biden family. he kept these tapes as an insurance policy. 15 of those recordings were with hunter biden, the others were with them vice president biden. leader duffy is with us.

why no media coverage of what seems to be a long shot? >> reporter: this is an explosive story. this fd 1023 format the fbi has redacted sections of at that grassley explained to the american people had 15 audio recordings, two with president biden, it reveals the president biden may have helped his sunland the position on the burisma board of directors, why is in the media covering, that implicates president biden is a potential national security risk but the sitting president of the united states potentially beholden to them, billions and billions, so

serious and the fbi, only way to describe them is a criminal operation because they are not investigating this, hiding it from congress, the fda 1023 format is an unclassified document they tried to tell us didn't exist and then they told congress, certain members of congress view the document in a secure world and read acted sections, criminal operations to protect president biden and interfere in american elections and the media is not covering it. stuart: serious stuff. you are at the federalist and you are following this. do you get the feeling this time after all this time around somebody is going to be held accountable? >> no. the only way anyone could be held accountable is if we ask our elected members of congress, the 24 presidential

candidates, what are you going to do? that the biggest question we should be asking our elected leaders because there will be no justice until this corrupt kernel operation -- stuart: if we could hear the tapes, if there's something on there that really is a bribery scheme somebody will be held accountable. we could get that. >> we don't know, the 1023 format says this burisma executive has the tapes. don't know if anybody else does or if the fbi has them. the fbi knows this exact of has the tapes and isn't investigating. there is no way the american people are ever going to hear what's on those tapes until we have a deep state that is actually doing their job. stuart: i remember watergate 50 years ago, was all about the tapes. it will be the same thing now. thank you for being with us. keep following that story.

hhs secretary becerra was asked about his masking of young children, what did he say about masking 2-year-olds? lauren: they were masked inside and outdoors by head start, and he was asked and forced to explain why. >> forcing them to-year-olds to wear masks to save lives? >> making sure people were masked as appropriate was essential to make sure we were able to get out of that pandemic. >> and you point to evident there was a public health benefit to forcing young children to wear masks? >> the fact that today we are not losing lives the way we last them when we first got into this pandemic. >> forcing 2 years to wear masks? >> that's your interpretation. using policies that gave us the precautions to keep our family from contracting covid.

lauren: i am speechless. private schools often follow the public guidance and when you have a 2-year-old who is just learning how to speak and they are wearing a mask indoors and outdoors, and teacher is in a mask, you have a bunch of problems. stuart: it would be nice to see someone held accountable for the mess we made. lauren: may be we should have made some exceptions were not done it for so long, show some humility. stuart: now this. that eu mother european union, hit google with no antitrust violations. google is accused of having a number probably. susan lee has the story next. ♪

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that powers the bitcoin blockchain. featuring a robust growth strategy. aims to double their mining capacity. all using low-cost green energy. hive blockchain technologies. stuart: good news on inflation. at the producer level inflation is slowing down. that's not reflected in the stock market. dow industrial down 150 points,

largely a result of one stock, united health is down sharply. lauren is back with the movers. i want to know what's going on with meta. lauren: piper sandler goes through 10 and research to 330. they like that it is plummeting more ai into their products. stuart: how about bluewater biotech? lauren: look at it go up 65%, small, inexpensive stock but they just bought drugs or $8 million cash. a slew of different ailments. they are going big. on the scene right now. stuart: solo. lauren: audio streaming, music, 57% of their staff, they are committed to reducing their real estate, cutting costs, normally stock would go up when cutting costs but it is down 1.3%. >> endless layoffs from all

kinds of sectors, the employment rate is well below 4%. we have trouble for google, the european union says it is looking into breaking up their ad business. susan, what are the europeans accusing google of doing? susan: they broke european antitrust laws in the past few years, this time it's the european commission, a legislative branch of the eu led by margaret vestige or and the commission takes issue with google favoring its own online display advertising technology services to the detriment of tech services, advertisers and online publishers so they are saying google abuses its role in buying and selling of online ads. google is telling us the

commission's investigation focuses on a narrow aspect of advertising business. it's not new and they disagree with the ec's view and we will respond accordingly. these accusations are not new because the doj accuse google of the same thing right here in the us. the uk is investigating as well and the eu are threatening to find google 10% of their worldwide sales if found guilty. that's a big number because google's parent company alphabet made $280 billion in global sales last year, 60 billion of that in cold hard profits, the majority coming from advertising. $8.9 billion in fines in the european union in the past decade, the recent $12.7 billion in april. they were accused of favoring their own shopping service in its government search engine.

all big tech companies have been targeted. mark zuckerberg's meta has been fined 2. $4 billion and four find in the past 9 months, amazon has been fined one billion dollars for misusing data which apple is being accused. google will appeal and it will be a long drawn out appeal process before you have to pay anything. stuart: one of these days the europeans will come up with something innovative in technology. "cavuto coast to coast" when was the last time they did that? stuart: i can't for member. susan: me too in this case. stuart: thank you very much indeed, see you soon. the house just voted on a move to prevent the feds from regulating gas stoves. i hope it passed. lauren: it did, 2. 8 to one hundred 80 with 29 democrats voting with republicans in favor of the bill which prevents the consumer product safety commission from finalizing any rule that would ban a gas stove.

legislation unlikely to be taken up by the senate. the white house said it opposes it but it stopped short of veto. stuart: next one. you've got new numbers from small business owners whether they are going to stay open hundred biden's economy. susan: 64% are worried they won't stay open. high inflation which is double, the target rate at 2. 4%, the %, the fed wants it at 2% and the banking stress, this is hurting their ability -- bottom line things are still expensive for them and investor capital is challenging before the. the sense with the biden economy. stuart: unease around the country, thanks so much. lance gooden wants to require dna testing for illegal migrants. he says that would help prove family ties to the minors they travel with.

congressman gooden joins us shortly. millions of people face high temperatures from texas to south carolina. will nunley will tell us how long this excessive heat is going to last. he's with me next. ♪ ♪

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stuart: favorable inflation news not firing up the market, the dow is down 140 points, modest gain for the nasdaq, s&p up 12. texas and louisiana hit record-breaking temperatures in the next few days.

will nunley, how hot is it going to get? >> reporter: we are hot and getting hotter. we are already 80 degrees, we will continue to climb through the day, we could be looking at tying or breaking a record in triple digits just today. as we look at the future triple digits for the next five days, a hot one for texas and louisiana, which has a lot of places like this. this is the martin springs pool in austin, a natural pool, big place and it is popular before the sun came up. this is the type of heat we talk about a heat index of 110, 114 that you have to take seriously. we have cooling centers in austin and across texas to get folks ready and prepared for this. we have our fox jackie: are is talking to folks about how they are prepared to beat the heat.

>> this weather is hot. we did not a specter to be so hot this early in the year. >> i lived in texas all my life, it has always been hot, when we go to the pools a lot, try not to stay outside too long. >> it is hard to step outside, you're sweating immediately. >> on average, often sees 30 days year of triple digit temperatures and above. this will make a dent in that. it is a record-breaking heat wave. today across the south, severe weather in parts of alabama, mississippi and georgia, category number 4 out of 5 for severe /5 for severe weather. we are tracking that on your free fox weather apps. it stuart: before you go i repeat my question. is it going to get to one hundred 20 degrees ° in austin, texas today or this week?

>> reporter: not today but you could be looking at one hundred 15 by later this week. we one that is the number i wanted. stay away. thanks for all this stuff. a texas congressman proposed new legislation that would require dna testing for illegal migrants to prove family ties to the minors they travel with. congressman lance gooden introduced the bill and joins us now. our migrant children being used as ponds to get into the country? >> yes, they have been for many years. i filed this bill many years ago. it fell to the democrat led house. i filed it with marsha blackburn from tennessee and i believe we have a serious problem. minor children are used as coupons in a sense to get across the border with special treatment, the cartels taking advantage of that. stuart: they front up to the border.

grab a child and say the child is related so in a come because they are taking care of the kid. >> when you have a child you are treated differently by your self or a group of grown people so the cartels have taken children south of the border and make their groups get through quicker and in some cases we've seen drug smugglers with children saying they are their own family so what this bill would do would force testing to make sure these children are family members whose claiming them as family members than they have to explain or get arrested. stuart: you think they will do it? you think they will really test everybody? really think so? >> it is like every other border or security plan we propose, democrats always saying we don't have the resources to test everyone.

the point is if we pass this bill there will be less people crossing in the first place. do we have the resources to take every asylum-seekers? no we don't but if they know they won't be admitted they won't make the journey, if they know they can't get across the border with a smuggled child they will not bring the smuggled child, may seem like a large burden on the front end but on the back end you are discouraging bad practice in the first place. stuart: is it true we have lost track of tens of thousands of migrant children? >> we have absolutely. when i say we, this administration last track of those coming across the border, don't know where people are going, they lost track of those ordered to leave this nation, lost track of people who have known ties to terrorism and come across the southern border. we are not just picking on our friends, in south america and central america nations, these are folks coming to the

southern border and using the open border we have, don't know who they are. stuart: sorry to interrupt but not a word from the establishment leader, not a word. i remember during the trump administration, reporters in the white house screaming at donald trump about kids in cages, the horror, not a word now. i think the american media is in a disgrace about the border. >> agree with you totally. these were cages obama's administration built, they didn't have a problem when trump was in power, awful in their minds and the double standard is something we witnessed with the border crisis all the way down in miami with the trump indictment we saw yesterday. stuart: are you still with trump? >> absolutely. we've known this was coming, this witchhunt would not end and once donald trump announced he was running for president,

the target grew bigger and the biden administration has gone out of their way to taken down in every corner they can. they are very fearful of him winning the nomination and being a serious contender, i believe that many of my friends in washington on both sides of the aisle belief will take down president biden in the next election and i am behind donald trump. i know this is a witchhunt, the american people do as well. he has been unfairly prosecuted by this doj. hillary clinton and president biden are guilty of the same things donald trump is accused of, difference is they don't have the authority to declassify that donald trump did and it's a sad disgrace of action by the justice department, the american people see through and it only helps donald trump. stuart: congressman lance gooden, republican texas, appreciate it. right now the house homeland security committee is holding a

hearing of alejandro mayorkas. republicans are looking into the allocation that he's derelict in his duty, dereliction of duty. details coming up. 2024 presidential candidate vivek ramaswami will pardon trump if elected. >> this is my commitment. on january twentieth 2,025, if i am elected next us president to pardon donald j trump for these offenses in this federal case. stuart: vivek ramaswami will be on the show sitting next to me shortly. we will be back. ♪ ♪ that this connection is here. one of the things that my mother told me

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>> i'm happy to announce this is my commitment. on january 20, 2025, if i am d the ne us president, these offenses in this federal case and i have challenged, i

have demanded that every other candidate in this race either sign this commitment to pardon on january 20, 2025, or else to explain why they are not. stuart: that man is everywhere and he is here with us now. 2024 gop presidential candidate vivek ramaswami vows to pardon donald trump if he is elected. looks like to me you are trying to pool some trump supporters into your camp. >> america first, exactly right, running to win the full election starting with the republican primary and then move on to the general. i'm doing it in some ways the trump did in 2015, by speaking truth on unapologetically. by being unconstrained by a political consultant tells you to say. unconstrained in speaking out on my beliefs and the truth is america first does not belong to trump, it belongs to the people of this country and the

question is who is going to take that agenda to the next level? in many ways the politicized prosecution against trump which i think is wrong is the best evidence that we didn't solve the problem of the administrative stated its corruption. you are all the log over you got to bring the pesticide. stuart: how many of your donations come in the form of bitcoin? >> we opened that up more recently. we didn't get a good number on the bitcoin conference, close to 50,000 small dollar donors, unique donors. stuart: as opposed to bitcoin. crypto is -- >> i would have to look at the numbers. the majority are normal dollar donations. stuart: there is an op-ed in the washington post that reads, quote, vivek ramaswami runs on the unlimited optimism of the inexperienced. that's a nice one.

what do you say? >> i just read that piece of this morning, had breakfast with george will who wrote that piece last week, based on our conversation, i don't reject that characterization. i don't have experience as a politician. i think that is a good thing. that makes me the outsider in this race. if we are looking on taking on the things i'm looking to take on, dismantle the administrative state, declare economic independence from china, revived national pride i don't think inexperienced, that is to say professional politician or career politician will get those things done. it is going to take an outsider. stuart: you are an outsider. i want to know how far, how much of a traditional republican you are. traditional republicans are definitely small government but also much lower taxes. is that what you're looking for? >> that is part of what i think. small government libertarian

instincts, low taxes, low flat tax system across the board. be when you are a flat tax guy? >> a low flat tax guy. and growth guy. talking more broadly about economic growth, unlock american energy, drill, frak, burn coal, nuclear, stop paying people to stay at home, solve the workforce problem that way. i am a single mandate guy. stabilize the us dollar, forget the dual mandate, dismantle the administrative steak and reform the tax system. this is how we stimulate economic growth for the country, such we haven't seen in a long time. stuart: you could go through the entire campaign platform in 45 seconds. don't know where you get your energy from. >> back at you, you are in energetic guy. stuart: still had, will kane will join us on the white house calling out a reporter who asked about transgender athletes competing in girls sports. martha maccallum will be here talking trump indictment. is our democracy under threat?

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