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tv   Varney Company  FOX Business  June 30, 2023 9:00am-10:00am EDT

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fixed income here for the time being. maria: ask tomas just where rates are yields mayor on two-year and 10-year. the worry for me wonder market side what is going to happen if we have a recession because, if not a recession, o lower government revenues increased spending mainly biggest program that kicks in the maintains tested medicaid, biggest one, and, we are going to have to finance that somehow that is going to come up with the recession. maria: great to have everybody thanks very much for all-hands-on-deck, paul christopher andy puzder, tomas, we appreciate it have a fantastic weekend i will see you on wall frooet 7 pm eastern fox business stay with us "varney & co." picks it up ashley in for stu good morning, i am ashley
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webster and for the vacationing stuart varney. u.s. supreme court is going to hand him the title opinion of the term including highly anticipated decision on student loan give us. only the borrowers are waiting to find out there loans are to be forgiven. as president biden rubs up touting biden, a strain as consumer debt continues to pile up but mr. biden insists he's building economy from the middle out and bottom up but a small percentage like the economy is actually working for them and record air travel expected this holiday weekend, passengers facing problems and could get worse, southwest pilots move closer to going on strike. but to get your money as we finish out the training week in the green, the dow is up 176 points. let's look at the ten year treasury yield, big tech names are going down a couple basis
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.3.8%. would like to check the two-year and at 4.8 inverted to the tenure, we've been saying this over a year but no recession. let's look at big corn. it's been holding around 31000 exactly. $562. also keeping an eye on apple, it could hit evaluation of $3 trillion becoming the first company ever to do so. as always, a big show ahead. doctor marty makary and shawnee, they will all be here. president biden awkwardly wandering off the set after his interview with msnbc. nicole will get into the. it is friday, june 30, 2023. varney & co. about to begin.
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♪ hazy smoky downtown. normally they sent cold fronts. [laughter] let's get a look at the fox polls this morning. good morning. how are people feeling about the biden economy? >> vastly negative but improving. 76% of voters the economy as fair or poor, it's better than the 82% with the same view in may. how do voters feel about how things are going? one third are satisfied, 60% are not. do these numbers improve with the president biden storm? or voters convinced the policies
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he's pursuing are making their lives better? 18% of voters in the polls said his policies help nobody. 18% they help nobody. the number was 5% during the trump administration. >> at least his handlers said he has to connect the dots for people but they're not buying it. great to see you, todd. two thirds of voters say i don't think things are going so great. part of that i think is the administration's policies tax, tax, spend, spend. people are not buying it. >> it's not just republicans. we were talking offset, i live in connecticut, we can guarantee as we sit here today connecticut will vote for joe biden in the presidential nominee if he is, when's the primary? he's not out by the i don't know a single person in connecticut who is like the economy is great so there's a disconnect he needs to connect that for the people.
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republicans need to disconnect that to get those individuals in the swing states. connecticut, new york, new jersey the swing states need to connect them. you will be better if a republican is in office. ashley: publicans are not very good at this. so much material to work with the president biden sat down with msnbc's nicole for an interview yesterday. take a look at this. [laughter] >> will get a lot of president through this so considering your chair. >> we show up and we are inv invited. there's still a lot of good republicans. >> now they are running on your bipartisan accomplishment. >> like i said, i'm going to be done. [laughter] ashley: just one big laugh best.
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they didn't discuss irs, hunter biden, the list goes on and on. [laughter] trying to see that if i could do that with my mike. [laughter] nevertheless, we are reaching where when you look at the whistleblower, the whistleblower didn't start out there. he started on cbs news. for the first time with regard to the hunter biden scandal, mainstream media is finally being forced to account for what is happening. nicole wallace did not get that memo. it will be interesting to see when the far left leaving msnbc and cnn come to the table and cover this part because of their colleagues at abc and nbc and cbs start to cover it, that could be the thing. that sways the american people because bribery is not something you want in a president.
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[laughter] ashley: and it's clearly the case. biden was asked about the issue expanding u.s. supreme court. finally a decent issue. >> do you worry without tort reform, this conservative majority is too young and conservative they might give too much harm? >> i think it may be too much harm but i think if we start the process trying to expand the court, we are going to politicize it may be forever in a way that's not healthy. ashley: other democrats pushed to expand so what you make of biden rejecting the idea? >> somewhat heartened but i don't know if he made up for the fact that the rest of his day he basically questioned the legitimacy of the court saying this court is not a normal court and he and his administration
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along with the administration's of countless colleges and universities and everybody left said we are not going to probably follow the supreme court decision. decisions are not suggestions like would like you to do this. there's a lot. when people question whether or not they have to follow supreme court decisions, that's bad for our country and for the rule of law. ashley: great stuff. don't go wandering off. we're going to buckle you and. you're here for the full hour. another topic ignored during joe biden interview, republicans looking to expand their investigation. >> at least a dozen of the investigators with the fbi, d.o.j. and irs including u.s. attorney, david weiss, trump appointed and u.s. biden appointed attorney for d.c. matthew grace who was not allowed to charge hunter biden in d.c. republican communities want to
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know for who and what led to hunter's sweetheart plea deal. whistleblowers telling the public prosecutors repeatedly slow down the investigation and gave hunter preferential treatment. ashley: drip, drip, drip goes on and on and the more we learn, the more the word cover up comes to mind. >> do think you do agree to terms meaning hunter biden is off-limits? >> i don't think she would ask she's a republican like the starting center for the next. ashley: she's ever going to us those questions. look at the futures, end of the week here, the nasdaq, s&p up three quarters. good time to bring in our friend, kenny, a foodie man. cook extraordinary joining us, get into what you're eating this holiday weekend but first, the
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final june day, where should i put my money in the second half? the tech claims continue to prosper or should i head for another sector? >> i think some people think big tech will continue to prosper, you could tell by tech has not backed off, some people are reallocating but plenty of money still goes and that's where the disconnect is because i do think rates will go higher and will put pressure on tech so i think you need to start to put money into the other sectors. suddenly raising ahead. financials, look at the stress test out there we thought they would fail but now they will announce buybacks and increases and that will be positive for a lot of investors and asset managers so you find some support, the small and mid-cap and healthcare they need to keep diverse portfolio so while the market performed well and while
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i'm not selling my tech, i'm just not buying anymore. hope it continues to rally. i'm going along for the ride. ashley: you pointed this out, we have strong economic data, strong market, consumer confidence building strong housing, all of this you think is good but you have to think about inflation and it's still improving extremely sticky. >> if we didn't have an inflation problem, those would be great data points and they are good except the fed is now faced with stabilizing prices and stabilizing inflation, inflation remains sticky and it will continue to push the fed into the corner and powell made it clear on the 14th and the 28th and 29th of june, he said get ready because rates are going higher and set it in the plural form and now the market is 50% chance with two hikes,
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one in july and one in september. august is the jackson hole so there's no meat. ashley: very quickly, are you bullish for the second half of the year? [laughter] >> i'm cautious with the summer but bullish at the year end. i think and write about here, not much higher on the s&p. i think somewhere around 4400, that's where we will end and that would be a great performance. s&p up 12, 14% and the nasdaq up 30%, a great year. ashley: what's a specialty dish this fourth of july weekend? >> i making short rib burgers and i give the recipe a few days ago but if you have to make the short ribs first and then shred the meat and mix it with brown
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check. don't use lean meat. ground chuck. make the burgers monterey jack, caramelized onions and mushrooms on a brioche bun. ashley: you're talking my language. [laughter] >> he's over here drooling. [laughter] ashley: great stuff. thank you. have a great weekend. record july 4 expected, problems are piling up for travelers this weekend watch this. >> no record of our banks and our flight got completely canceled. ashley: no luggage, no flight. more potential travel misery with selfless pilots moving closer to going on strike and less than an hour the u.s. supreme court will hand on its final opinions of the term including highly anticipated decision on student loan forgiveness. as millions of borrowers wait to see owned to be forgiven, president biden drops of pushing
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by genomics, the president insists he's telling the economy from the middle out and bottom up. poll numbers show americans. we'll talk about it next. ♪
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nearly a week now after rebellion russia, whereabouts of the yevgeny prigozhin lost track and russia. greg was the latest case this morning. good morning to you. >> it was last friday when the
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mutiny rocked russia and we are still tracking to follow from it. new report say one of vladimir putin's generals is still being held and questioned about links to the attempted putin reportedly many more officers being world. some are calling this a purge for the mercenary group itself including reports, some back and ukraine where they have been fighting with the russian military. others say the base is ready belarus with are supposed to be sent and that is where yevgeny prigozhin is claimed to be. we haven't heard from him in a couple of days and gas we've tracked his private plane making stops in moscow and st. petersburg. know what his fate will be. there are new reports russia is evaluating workers, huge nuclear plant south of here which it occupies.
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dave has been warning moscow estate to trigger a dangerous radioactive incident there and a sad funeral for 14-year-old twin girls, two of the 12 killed, more than 60 injured in the orphic russian missile strike on a residential area, the frontline town of kramatorsk. civilians as always, paying a very high price. ashley: very sad story. thank you very much. jamil joins me now. good morning. the rebellion was short-lived, 24 hours but the fallout still being felt. it's hard to follow what's going on inside the kremlin the where you think putin stands right now? >> it's clear he's weekend and feeling that as greg pointed out, it appears is going through a purge trying to identify folks that might be disloyal. we heard about -- we don't know
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what got yevgeny prigozhin, we know he arrived but we don't know his status so putin is trying to re- consolidate power, he sees this around him because his yevgeny prigozhin uprising demonstrating to people that they can make a move against putin and maybe even survive it. ashley: u.s. reportedly sending long-range tactical to ukraine capable of being fired well into russia and the supply areas of the russian military. are these game changers? should we be providing them to ukraine? >> these are the big deal, the u.s. is in a slow walk to ukraine. we first said no to the tanks and no to the missile system. now this new capability that goes on the army tactical mission system has significantly
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larger rates and allowing them to hit russian capabilities inside russia, that's going to significantly and at the same time, it might make the work harder because russians will not be thrilled if they are hit inside their own territory. ashley: lost in all this is how ukraine is doing in its counteroffensive, are they making around? >> they are slowly making around but not as much as we would hope and not as much as you might expect given the fact that they are out and now is a good time if we put more equipment in, don't slow walk it, give them the opportunity to give us an significant blow to the russian country. this is the right time. ashley: they been a big part of the russian military offensive, if they are out of the game for now even a short period of time, doesn't that weaken the russian military? >> they were on the sidelines
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when they were very successful, the right. if they can't get back in the fight and get highly trained forces, it will be a big issue. russians are using conscripts and poor equipment and poor training, it's a huge problem and its opportunity to take the fight to them which is like putting weapons in now would be a good idea. we should give the weapons long ago. the slow walk process drags the war out. ashley: we hear the message. thank you very much for jumping in. appreciate it. listen to the features, you can see green across the screen, down 200 points. s&p of three quarters of a%. you're watching apple expected to hit $3 trillion to stay right there, opening bill coming up next. ♪
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let's look at the futures, a strong first half of the year for the markets and looks like we will finish off with a strong position is in the premarket. spring and kyle wall. good morning, you are in the ipo business. the number of ipos this year are way down compared to last are down 30, 40%. why is that and what are you telling your clients? >> a lot of it has to deal with the way the economy is, inflation and interest rates moving up but right now for the second half of the year, a very successful ipo starting to see where houses get involved. we had j.p. morgan a few this week in goldman sachs and we see goldman sachs and jp morgan and morgan stanley filing for more ipos over the next couple weeks. we are seeing light in the nasdaq being up 30% so for this
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year. ashley: we have somebody on the site, he says what you do make ipos available for the average investor and it's an area the average investor is wary of because they don't understand but there is value, right? >> absolutely. one of the things we've been able to do is focus on getting some of the biggest names you be familiar with like spacex, data bricks, and i think these will be some of the big ipos that we will see the second half of this year because whether it morgan stanley or j.p. morgan, there's pent-up demand for a long time and as long as they are an accredited investor, we are able to get access to these which we believe will be going forward. ashley: for quite some time we've been talking out recession, and will have a hard landing, shall or deep recession
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-- what say you? how does the second half of the year play out? you expected to take an economic downturn? >> lot lowered today than a few months ago, the housing market is something to keep an eye on closely. i think the jobs markets are strong and data that came out today, inflation starting to get under control. the fed raised 25 or 50 basic points, maybe probably but i'll think we will raise it to points anytime soon. you think the recession is pretty much under control and that's why he continues the second half of the year. ashley: that makes me feel better for sure. acute so much for joining us. there laughing and cheering and raising their hands, it's friday. exchanges here in the united states, let's look at the big board and here we go.
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the dow up 175 points. some of the stocks will come out early, intel, cisco, a lot more green on the board then read. let's look at the s&p 500. the index up three quarters of a%, up 30 ports and 3427. of nearly 1%, 131 points game and let's look at the big tech loans would like to follow the mayor all in the green. metal, apple, amazon, all moving higher, meta is up 1.4%. 191 bucks further about, is closing in on $3 trillion evaluation. >> is there right now. can it close at this level? i'll take $190.73 a share
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because that's the magic number. if you can close, apple is officially $3 trillion company. it seems like every two or three years they go up another trillion dollars. i wanted to bring this up because this happened, to stop $240 so rise of almost 30%. they say yes, consumers slowing down but apple consistently gained market share from android, it's good for the business spirit it is. a behemoth. let's move on to this story at the top of the show, southwest airlines brazing for potential strike. >> the airline has been in contract negotiations with the pilots union for three years so the union asked to be released from mediation. as a 30 day cooling off period. at that time, potentially pilots could strike in the middle of summer. nothing is imminent but as a for
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another headache for travelers this whole week. ashley: let's get into the crypto, more people getting into bitcoin etf came. >> the big guys institutional players are in, fidelity filed for bitcoin etf. obviously sec hasn't improved, they are worried about transparency and price manipulation but fidelity, blackrock and other big players are pushing is easy to change their tune and have surveillance sharing mechanisms in their filings that might appease the sec. ashley: mehta detailing artificial intelligence used on its platforms. >> do you wonder why when you're scrolling they keep showing videos for a while? kept getting female dj videos.
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[laughter] why do they think i like this? meta is saying you're going to show you how to use artificial intelligence, this is why we thought you would like the dj videos because you liked this video you're not that into it. this is how you can change the ai. riley during the set of regulations? was going on in europe? europe is leaning and meta just signed on to an open letter of 160 companies saying what they think europe is doing is that it was supposed to be risk-based and not technology-based and it drives innovation out of your become to the u.s., it's totally fine.
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>> i think it works because i have this person who's a female jump rope or named lauren jumps on my feet, i'm not into jump roping, i started looking into her and you are mesmerized so the hook worked so maybe not female dj but female jump rope. >> now the real story comes out. ashley: a big fan of female dj. sorry, i give away the secret. who's bullish on credible cruise lines? >> the answer is jeffries and they say stock is going to $25 so they more than doubled the price target. they like the change of ceos and say it's material positive for the company and pretty close to calling carnival not just a good stock trade because it's volatile to make money a long-term investment. ashley: well, you don't hear that.
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let's get to nike reported yesterday. i thought they had a decent report. down nearly 3%. >> good for the consumer. this going to be a lot of sales from nike. north american consumer particularly not china, u.s. consumer is slowing down so the ceo says we expect next year to be highly promotional as well. shoppers are responding to that and they issued a forecast those a little disappointing so nike's stock as of the rear of the dow down 2.6%. ashley: now it makes sense. thank you so much. let's look at constellation brands down slightly down to not%. >> can i start with what went right? surpassed bud light as the number one purebred in the country, that's huge. they took over from bud light because of the dylan mulvaney
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controversy. the numbers were tremendous, they smashed expectations and reaffirmed annual sales outlook. fear sales rose double digit so why is it down 3%? the only thing i have is the outlook was slightly cautious. it could have been bigger, i cannot find negatives. ashley: it doesn't take much for people to get spooked. that's it so a fickle bunch. thank you very much, lauren. ncaa recently signaled support for colleges to drop marijuana from the substance band list. we'll talk to former white house policy advisor who says it sends a terrible message on drugs. as of july 4 weekend approaches, latest fox survey shows record low number believe america's best days are ahead and we are going to talk about that with 2024 gop presidential candidate ramaswamy and what it means for
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the country and how he plans to change that sentiment. we'll be right back. ♪
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will
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good strong first half of the year finishing out the way, solving in the green and nasdaq hope 1%. apple hitting 3 trillion-dollar evaluation level so 192, up one the third period briefly hit 3 trillion in 2022 faster but today in these two close at that level and it's official. another state legalizing recreational sales and use of marijuana allowing part. does it go in?
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>> satellite july 1. you have to be 21 years old and cannot smoke in public. if you do, you get a $50 fine and taxed 9% so over 300 dispensaries in the state, they expect a surge in business, preparing for that to ensure enough supply. is going to be lines. toronto people get to top-of-the-line so they get their supply and recreational users go to the back. >> there's always the initial we can buy recreational pot but do you think the novelty wears off quickly? >> one 100% because you always want what you can't have in every state that popped up, you don't hear people talking about it anymore. you spell in the city that said everywhere. discussing. ashley: skunk everywhere. >> what hurts the regulations, you look at maryland, there's virginia and d.c., everyone has
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different rules but you do, you ignore the rules on the street. ashley: the streets of new york. thank you guys. signaled support for colleges to drop marijuana from the banned substances list for student athletes. our next guest says that decision endangered student athletes with a terrible message on drugs good morning. what issues do you have with the ncaa's message? just that encouraging drug use? >> these are kids, people under 21, our brains are developing until about 25 or 26 and thc, the active ingredient shut up in today's marijuana, super potent to string these kids brains. why on earth would we send a message to say actually, you got the green light. they have enough telling them that, why would we do that? a terrible recommendation. ashley: what's the reasoning?
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who saying it's okay, they can smoke pot and play their sport? who's supporting it? of the expert telling the ncaa go ahead, take off the band list? >> it has been a transparent process within the ncaa. i'm hoping former governor baker who was against the marijuana in massachusetts his head up the ncaa, i hope you will reject this. i just can't understand why it's a good idea except for the marijuana industry, it's an industry like the tobacco industry bring on our kids. i would we have them influence in college sports? i worry about it. ashley: read it a couple weeks ago but isn't there a level thc threshold and then there's a problem? but if it's below a certain level it's okay? >> it is but the level is
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ridiculous. the levels they are talking about, you have to be smoking every day all day for months to trigger the level. it doesn't mean we want to arrest kids get them in trouble but a lot of these kids test positive, they might have a problem with it, today's marijuana can be, one in three people who used the last year in this country meet the criteria for marijuana use or addiction according to the apa so is something we should be getting people off of it. we want to help these kids. ashley: it's difficult because we did the story about maryland being the latest state for recreational use so there are mixed messages. >> there's a huge industry but for big tobacco some states rejected recently about oklahoma and arkansas, i still think we
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don't know where we are going with this. president biden says he's against it still so i don't think the story is over quite yet but certainly the industry in we can spell it no doubt about it. ashley: really good discussion. do you agree with kevin? this is the wrong message to send? >> i agree one 100% on the science and the message but there's the reality that viewpoint is ignoring. ever since you and i and you were in college, the athletes have been using pot and the strains are much stronger now but even when i was there, athletes used pot and they bought or utilized someone else's urine to pass urine test so something is always happening and always will. athletes use marijuana, it is what it is in this keeps them from getting in trouble from her career and athletics perspective
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but you can't ignore what kevin said, they are potentially hurting themselves. ashley: they become addicted. >> they came to the athletes. i think it matters your viewpoint. i'm not a smoker and i don't condone it and i don't want my children to do it but the reality is, most are and they do it anyway. ashley: the nfl recently announced new measures to curb gambling in the league but top four players suspended, this is a growing problem? >> marijuana to gambling. things about used to be banned but aren't anymore. there are limits to gambling in the nfl. indianapolis calls player rogers and free agent demetrius taylor for betting on nfl games last year. they can reapply for reinstatement of the end of the 2023 season. offensive lineman nicholas receiving a band for betting on non- nfl games at the club facility.
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suspensions follow five others from earlier this season. presentation recently not allowed to better on the nfl, it should seem logical but it's n not. you can have someone place a bet for them, you can't share inside information, you can't enter words during the nfl season and you cannot play daily fantasy football. ashley: gambling companies playing a big part into the sports. >> all the commercials are for gambling. ashley: good stuff. today it's friday. still time to send in feedback. e-mail questions and comments and critiques, we are okay, we can take it. send it to varney viewers at fox.com. ashley: you are not wrong. you're right. national buckling up for the
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greatest show on dirt. most are jim world finals taking place in music city this weekend. fox news is. brian is going to join us next. ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ - representative! - sorry, i didn't get that. - oh buddy! you need a hug. you also need consumer cellular. and in
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nashville getting ready for was called the greatest show on dirt. monster jam finals taking place in music city for the first time this weekend in our very own madison is there. i saw you and one of the big trucks, have you driven one of these monster trucks? >> i wish. they're not let me drive it yet but i'm told once things are prepped, i'm allowed to get in one but we are in prepped stage. you can see me some stadium which is for you see football except now it's entirely covered in dirt and we had bad storms yesterday so the team has been working nonstop to get not just the track ready but all of these giant trucks ready as well and ready for practice so we been delaying a little bit and jamie has kindly come to talk to us. this is my first monster jam
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world finals and the first time here in nashville. vegas for almost all of them, one time in orlando now here. why choose nashville? >> we are always looking for destination city in nashville is on the rise. the city is going and people want to be here so we are looking for a place for fans to come in and have a good time. >> when you spoke to the stadiums to bring this, what was their response? you're talking thousands of fans, infrastructure and tra traffic, is national a city ready and able to accommodate an event as big as this? >> we mentioned a couple of years ago they were all about it, they been inviting and helping us out leading us to a parade down broadway, a great experience. >> the draw for thousands, the trucks like this, what will the driver and truck be tempting this weekend? >> three different competitions,
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racing and freestyle which are three of our four competitions this weekend. >> i hope to see two will skills. that you so much. i would just end in front of this tire to give you height perspective, is 66 inches and i don't even know if i'm taller. ashley: great stuff, thank you very much. he's going to drive a big truck and he couldn't. >> jamie's boss probably doesn't like me because i made a mockery of the entire industry. i tried to drive it and it was a disaster. that's why they sent madison this time. it wasn't pretty. ashley: we will leave it there. great to have you there. stick around. still ahead, congressman mike welch, doctor marty makary in vivek ramaswamy, u.s. supreme court expected to hand on opinions of the term including highly anticipated decision on student loan forgiveness. the 10:00 a.m. hour and a varney and co. is next. ♪
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that's the plan! well, you've come to the right place. now's the time to plan ahead. learn about an aarp medicare supplement insurance plan from unitedhealthcare... and how a plan like this helps you take charge of your health care with lower out-of-pocket costs. here's why... medicare alone doesn't pay for everything. your deductibles and copays could add up to hundreds, even thousands of dollars a year. everyone's a little surprised to learn that one. adding a medicare supplement plan helps pay some of what medicare doesn't. and that could mean fewer surprises and more predictable out-of-pocket costs. call unitedhealthcare and ask for your free decision guide. or talk with a licensed insurance agent or producer to learn more about plan benefits, options and rates. medicare supplement plans let you choose any doctor, any specialist, anywhere in the us who accepts medicare patients. you don't have to deal with any networks or referrals.
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this kind of plan also goes with you anywhere you travel in the country. if you're turning 65 soon or over 65 and planning to retire... find out more about the only medicare supplement plans endorsed by aarp. thumbs up to that! remember, the time to prepare is before you go on medicare! don't wait. get started today. take charge of your health care. call unitedhealthcare for your free decision guide and learn more about lowering your out-of-pocket medicare costs and seeing any doctor who accepts medicare patients. oh, and happy birthday... or retirement... in advance.

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