stuart: is that adele? lauren: i didn't know that, good job. stuart: smoky in new york, the canadian wildfires. good morning. 10:00 straight to the money. a 200 point gain for the dow industrials. what's going on? must be a couple dow stocks performing very well. on the right-hand side right there. lauren: verizon, unitedhealth. stuart: dow is up 200, nasdaq is down 28 points, the 10 year treasury yield moving below the 3% yellow, 376. price of oil $70 a barrel, up to $75 a barrel. as for bitcoin, we are looking at $29,800 a coin. justin, the latest read on

homebuilder sentiment. lauren: went up a point, 256 in july, seven months in a row that builder confidence is improving up the highest in nearly a year. going back to june last year. the reason is low inventory of existing homes. if you have the ability to afford a home you're probably more likely to team up with a builder to purchase what you want. stuart: that is thin, isn't it? lauren: it is going up month after month. stuart: the dow is up 200 points. now this. is real's president will visit the white house today and probably get a hero's welcome. he needs to patch up the deep division among democrats. in 2020, three out of four jewish voters back president biden. he needs to keep that voting bloc. the progressives in the party

are giving him a problem. here's squad member giapol. >> we been fighting to make it clear that israel is a racist state. stuart: she tried to walk that back a little. president herzog will address congress tomorrow but a lot omar, rashida tlaib and -- they will not be there. 43 democrats issued a statement calling those remarks on acceptable. warning, quote, we will never allow anti-semitism to hijack the democratic party. that is a split party. it gives the president not only a political problem but a foreign policy problem, israel is a major ally in the middle east, the only genuine democracy in the middle east, when biden called that yahoo's cabinet extreme, now he has numbers of his own party

calling our friends racist. today there will be a vote on a resolution in the house stating israel is not a racist state. that's an ideal opportunity for republicans to show their unity and the democrats to show their deep division. second hour varney just getting started. ♪ stuart: byron york with me this want to, can biden patch up this division within his own party? >> don't think he can. it has been growing before president biden became the president, the past two decades, we have seen a number of democrats especially progressive democrats like members of the squad become increasingly pro palestinian and anti-israeli. what representative giapole

said was consistent with what a lot of progressive democrats think and it wasn't any different from what democrats call the united states. i don't think this is a division that president can have an event or meeting at the white house and just fix. stuart: talk about a third-party running in 2024, senator joe manchin making noises about maybe getting into a third-party run, and do you think we will get a third-party in 2024? >> we often have some sort of third-party, will something actually have an impact on the race this time around and what they are making noise about, at this event they had they said they would not field a

candidate until after supertuesday, wouldn't even decide whether to field the candidate until after supertuesday, what they are saying is this race turned out to be president biden versus donald trump we, no labels will field a third-party candidate. because millions of americans don't like the biden and trump choice. they want 1/3 choice and have a point. polls show a lot of americans don't want a trump versus biden choice in the general election. stuart: i don't think president biden will be the candidate for the democrats in 2,024. i'm still saying that. how about you? >> we had some reports, democrats are whispering like crazy to each other, to possible candidates, be ready, be ready just in case and they

desperately want somebody other than president biden to be their presidential nominee but actually getting the president out of that space is going to be very difficult because if you wants it and pursues it and uses powers of incumbency to pursue it, it will be hard for democrats to get rid of their own sitting president. stuart: i would say almost impossible. great stuff, thank you, great to see you again. listen to this. congressman adam schiff has built up quite a war chest during his campaign for the open senate seat, he has a lot of money. how much as he got? lauren: almost $30 million, that's double his opponents for the senate seat. it is more than the presidential candidates besting donald trump with $22 million cash on hand, president biden with $20 million. how it works in california this

is the race to replace senator dianne feinstein, this is an open primary meaning all the candidates are on the same ballot in march on super tuesday and the top two advance on the november ballot. stuart: two democrats guarantees a democrat in the senate seat is guarantee that is what is going to happen. lauren: david said it could be a republican, a california guy. anyway. stuart: you got me. it is california. going to switch gears. russia suspended a deal that allowed ukraine to go through the black see. the white house is urging russia to reverse that decision. >> the decision to resume the effective blockade of ukrainian ports and prevent them from harming people all over the world.

we urge them to reverse the decision. meanwhile the united states has and will continue to look at other countries to enable them to reach the rest of the world including by insuring sanctions don't target contrary to russian propaganda. stuart: scott schilladdy, you trade commodities, what impact on prices to stop that export of ukrainian grain? >> if you listen to what kirby had to say, talk about the prices spiking higher but it doesn't tell you by the end of the day they settle for wheat unchanged. there's grain movement but it is by rail and truck. it's not enough to make up the difference, but the deal is this. 10% of the wheat, the world's weed comes out of that area, 50% of the world's corner.

the world is oversupplied buy wheat. let's rewind the clock to when we signed this deal last year. since we signed the deal prices globally have come off 25% and yesterday when it fell apart we couldn't get a bump, that tells you something, this is what it tells you and should tell me and tell you, 400 million people are -- will be, could be affected by the grain deal falling apart and largely they are in africa and asia but if you look under the hood, see what is going on, 25% of the wheat goes to china. that is why i think with putin calling the deal quits it is not going to be that long, just making a point he doesn't want to hurt an ally of his, china is a big receiver, 20%.

stuart: the inside story, you are wearing a car jacket, just different. >> 2-year anniversary jacket fitting a little more. stuart: that was very original information. thank you very much. back to the stock market, charles schwab doing well today. lauren: profits fell by 20% but their inflows are strong, that boosted their asset management fees by 12%. stuart: they took a hit in the banking crisis dropped to $49 a share, 65. warner bros. discovery. lauren: no deal between striking union writers and actors and studios which include warner bros.

but studios offer actors $1 billion in higher compensation. when it comes to the use of their digital images in perpetuity, on this proposed deal warner bros. is up 6%. stuart: how about carnival. lauren: look at it go up, up 5%, and upgrade to purchase market research, they like their debt reduction efforts at carnival and their marketing spending. this stock is doubled this year and they are going up again to $21 a share from 1850 now. i say isn't this recovery of the cruise industry baked into the stocks which are up 100% year to date? stuart: if they are up like that. i will probably never purchase a cruise line ever. us chipmakers, what's the story? lauren: pushing back against new restrictions on semiconductor exports.

we need all the details. there could be targeted restrictions on what they sell to china, the us does not want china to use chips for hacking a weapons development but there's a trade group that represents the semiconductormakers and any restriction will hurt business in china which is the world's biggest semiconductor market and undermines the chips act. this is the news to be spelled out, what are the restrictions in terms of which i end chips are restricted. and what's the date to make this effective. stuart: dipping -- lauren: all about carving out and scaling back and making sure what you restrict has worth. stuart: now this. verified claims, and the hunter biden investigation, the

whistleblower will be testifying tomorrow. house judiciary chair jim jordan will give us a hearing. jim jordan later. president biden meets is really president herzog at the white house this afternoon as democrats pushback on congresswoman pramila payapal who called israel a racist state, and russia launches the wave of airstrikes and ukraine overnight. that follows a bridge that connects russia to occupy crimea. that was the bombing this week. alex hogan has that story from ukraine. y small business wouldn't qualify for an erc tax refund. you should get a second opinion from innovation refunds at no upfront cost. sometimes you need a second opinion. all these walls gotta go! ah ah ah! i'd love a second opinion. take the first step to see if your small business qualifies. your wyndham is waiting...

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stuart: russia launched a wave of airstrikes against ukraine and a bridge in crimea was attacked. alex hogan joins us now. the latest please. >> reporter: russia, the defense ministry calling this a problem for the country, launched a wave of airstrikes targeting specifically ukrainian southern port cities overnight while russia did launch these attacks and manage tissue down 31 of 36 drones. airstrikes rained down on homes come destroying buildings just like this one, this is video captured in a police body camera in the town of odesa. this followed early morning explosion yesterday in moscow's main bridge to the annexed crimean peninsula, this bridge has been a key supplier for russia, traffic at least for now has temporarily resumed in

at least one way. in the aftermath, russia said it is done with a black cd overt allows ukrainian food and grains continues to cause a lot of condemnation. >> already seeing the market react to this as prices go up. bottom line is it is unconscionable. should not happen, this should be restored as quickly as possible. >> after her trip yesterday, us -- usaid is in the southern part of the country announcing $250 million in humanitarian aid for the struggling farmers there in the breadbasket, new ideas are being floated about what could be done to help resolve this issue temporarily, poland's agriculture minister is saying there could be shipments throughout its borders for ukrainian ships to

avoid using that blockade of the black sea. stuart: thank you very much. russia is threatening to use its wagner mercenary army to invade a key strip of land that straddles the border between poland and lithuania known as nato's latest. laura, is there any credibility at all to this report that russia would attack the border? >> this is just a way of putin wanting to test the nato alliance, to show he is in charge. it's ridiculous. stuart: is putin getting weaker? depends how you define week. he is having to show some bravado and beat his chest and he is if you look at measures he's taking such as what you

are speaking about, stopping to feed people, that's the sign of a week leader, not the sign of a strong person. stuart: let's move on to another subject, president biden spoke with benjamin and yahoo. today biden meets israel's president herzog at the white house, what's the status of the us/israel relationship bearing in mind some unpleasant comments about his real from some members of the democratic party? >> we remain good friends, having some difficult words. what do you do with someone you are allied with his behaving in a way that might not be consistent with your own priorities and values and in particular we are talking about things like bulldozing homes, that's not a good way for a democracy to act. at the same time we have a very strong relationship with

israel, many shared interests in the region and the world and our sharp words are not going to change that. stuart: president biden is in no position to lecture israel, is he? >> that is a matter of statecraft. who has the right to lecture whom? stuart: he's not done well with foreign policy in the mideast. he has pursued a strange nuclear deal with iran, insulted the leader of saudi arabia, doesn't seem able to get along well with israel either. that's not successful foreign policy. blue when the biggest challenge from my perspective in the middle east is china's growing influence. that is something we need to watch which going back to ukraine, what is going to happen? it is historically the biggest recipient and now beijing's ally moscow says you can't have

that. stuart: that suggests the blockade of the grain is not going to last. the chinese can't get the grain, won't be happy about it. this blockage will not last. >> i agree. either nato are having discussions to escort, that brings up issues, but i can't see beijing sitting back unless they already talk to putin before putin said we are stepping back. we don't know at this point. stuart: i often said on this program that ukraine could win. by winning i mean push russian troops out of the territory they have occupied. i think we should go for that win. what say you? >> absolutely agree.

not only a strategic imperative but a moral imperative and we can win. stuart: thank you very much for being on the show and agreeing with me on an important point. that's a really important point. it is a moral issue. >> absolutely. i laugh because i like it when we agree but there's a serious humanitarian geopolitical strategic issue. stuart: good stuff today, thank you very much, see you again soon i hope. thank you. next case. fox has confirmed that an american soldier has been detained in north korea. come on in. details on this. do we have any. ashley: it's a real head scratcher and we don't know how this happened. officials are only saying that a low ranking military member crossed into north korea during a tour of the joint security area of the dmc, the area that's open to the public.

the soldier is in north korean custody but the details including whether the soldier crossed the border intentionally are so far very unclear. interestingly, cbs news is reporting the soldier in question was being escorted back to the united states for disciplinary reasons but after going through airport security, somehow managed to return and joyner border tour. how that happens i don't know but officials say they are waiting to confirm his identity until his next of kin is notified. we will get more information. stuart: see you again later. we told you how remote work left many office buildings empty for years. that could wipe out $800 billion from the value of office buildings in major cities. take a look at this. crime out of control in san francisco, retailers locking up their freezers with chains to stop shoplifters.

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stuart: in the markets, been in business for an hour, look at the dow jones industrial average, 230 one points, a 52-week high for the dow, 34,800 is where we are. some of the movers include unitedhealth, way up. that the dow stock. lauren: they got an upgrade to outperform, bernstein says the stock is going up to $603 a share on value and growth. this is down 9% on the year. bernstein says their concerns are medical costs already in the stock price. stuart: fedex, up or down. lauren: they are up 3%. they are getting a new cfo, who is a former airline executive, he came from atlas, cargo airline. this is happening as fedex is trying to merge ground and express units and i'm seeing

fedex up nicely when you have a potential strike at ups. stuart: i see the name of the stock and the words ai next to it and based on that it is going up. using ai. lauren: they are expanding their collaboration with microsoft for their ai to automatically document a patient encounter so the ai would do the task of writing up what happened between the virtual appointment doctor and patient without a person having to do it. stuart: well -- lauren: you want a human being. stuart: is a going to get it right? lauren: i share your concern. your doctor comes in with the ipad now, that old folder that was all -- stuart: the bedside manner. what happened to that? lauren: and the ipad. stuart: let's get to the homebuilder sentiment number that we received earlier this morning. went up one point. a small gain.

homebuilder sentiment. jim tobin, the ceo, joins me this morning. that's a very small increase in homebuilder sentiment. what is it tell you about the housing market? >> seven months of increase. tells me in the middle of the building season and the buying season, i am looking in the future here, one of our indexes tell us future sentiment for homebuilders down a couple points, interest rates weighing heavily. stuart: how come the median price for a home that was sold has gone up to $426,056? >> a huge increase in light of 7% mortgage rates. those who can't afford the mortgage rate are driving of a market up but we are seeing first-time homebuyer, first-generation buyer getting written out of the market because of these interest rates. a whole generation of buyers

have never seen 7% interest rates. stuart: they get a shock when they do. 1% of homes changed hands in the last year. only one%. that the lowest level in ten years. it is not doing well. >> we are watching the generation of homebuyers, they are sitting in 3% or 4% mortgages. they are not moving. frozen the market from existence, new-home sales, new homes are bigger part of that market right now. stuart: you've got prices at this level, do you get wealthy people who make money in the stock market, buying full cash and use their stocks as collateral. >> moving out of high cost states into lower cost states taking that cash and driving those prices up but a whole group of homebuyers left on the sidelines, can't afford to do that.

stuart: can't do much without the inventories, more homes for sale and rates down. >> more supply supply supply is how we get out of this, build out of this. stuart: thanks for joining us, see you soon. all week, we talk on this program frequently about how the streets of new york city are empty compared to how they used to be. many people continue to work from home and offices. lydia, how many offices are sitting empty in manhattan? lydia: almost two out of ten officers are vacant in new york city like this one. the start of the pandemic but they can't find a new tenant. we are here with the and supple with the rudder property group. how significant is that? almost two of 10. its multi-decade high but how do you see it? >> historically significant where a 20% vacancy rate, 500

square-foot office, 100,000,000 ft. available in new york city which is high. this is no different than the many economic downturns that have occurred in the history of new york. it is a cycle. new york city, it is a cyclical business. it will turnaround. lauren: cities including new york, there is boston, many others, trying to take action to turn this ship around sooner. here in new york, lawmakers are offering a tax incentive to developers if they update older office space and make it newer, more attractive to commercial tenants. do you think that is going to work? >> i do not. i think those tax incentives to promote renovations are too little too late. i think those are not necessary. that's not what is going to fix our vacancy issue new york. >> reporter: if landlords can't find new tenants they can't get commercial loans and banks are

reporting earnings increasing their allowances for credit losses. we just heard from morgan stanley saying 50% and credit losses driven by worsening commercial real estate sector. mckenzie analysts expect losses of $100 billion in the next 7 years. it is a problem that looks like it's not getting better. stuart: we will see you again soon. rejection rate for loans is increasing. why are more of us getting turned down? ashley: because banks are tightening pursestrings. according to the latest federal reserve survey, the rejection rate or people applying for credit jumped to 20 one. 8%, up from 17.3% in february. the survey shows lenders being more cautious because of fed rate hikes and the potential recession, talking about this for some time, they are being cautious.

major banks like citigroup reported they are setting aside more money to cover to link one sees. the rejection rate for auto loans rose to 14.2%, the highest level since this data was first collected. rejection rates for credit cards jumped to 20 one. 5%. there you go. one in five or thereabouts being rejected. they are stingy with the money. stuart: here is another one. some stores are taking drastic measures to deter shoplifting. show me the chains. ashley: can you believe it? shoplifting has become so bad in san francisco that some stores are pad locking freezers and tying metal chains to make sure the doors remain closed overnight. robberies up 15% in san francisco. a target store in the bay area

estimates it has been shoplifted every ten minutes. even lower value items like toothpaste and tissues are now kept under lock and key. workers have reported a problem with thieves coming into the store, as many as 20 times a day to fill their bags full of products. not surprisingly people are moving out. retail giant nordstrom closing all their locations in the city, joins a long line of retailers who simply shut down and moved out. they are not a charity, they are a business and they cannot sustain this outrageous criminal behavior. stuart: those chains are the best advertisement for amazon that i have ever seen. ashley: you are right. stuart: trump's former chief of staff says it would be a, quote, nonstop gunfight with congress and the courts if trump won her second term. we have a report on that. jim jordan considering holding mark zuckerberg in contempt of

congress saying he has yet to provide internal documents on meta's censorship efforts. that story is next. ♪

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stuart: big tech censorship. congressman jim jordan might hold mark zuckerberg in contempt of congress. what is this about? >> reporter: this is because jordan does not think that meda has complied with their subpoena for internal documents and information related to what the judiciary committee is investigating which is alleged censorship on meta's platforms. jordan has been asking for

internal communications, he was in the minority, the judiciary committee officially issued meta a subpoena for documentation in february of this year. in may jordan followed up that the company's response so far was insufficient, they were failing to comply with the subpoena request for internal communications. among meta employees including meeting notes, discussions and recommendations related to content moderation and disinformation. jordan says meta failed to hand those documents over. >> facebook was censoring americans because a federal court said so two weeks ago, laid out 86 pages of facts with facebook and federal agencies and other big tech companies. we don't want this to be going on, this is an attack on the first amendment. we want the information we asked for months ago. if they don't give it to us we can move ahead with contempt if we need to.

>> reporter: meda has cooperated with the committee telling us in a statement we have shared 50,000 pages of documents in response to the committee's response and made a dozen current and former employees available to discuss external and internal issues. we look forward to continuing to work with the committee moving forward. jordan wrote a letter to mark zuckerberg that they are expanding their investigation into meta-apps new platform threads. it was created compete with elon musk owned twitter. jordan says they are looking into any violations that have or will occur on the platform especially if they are using the same content moderation. stuart: stay with us throughout the show because congressman jim jordan will join the program a little later on in the next hour after 11:00. now this, president of candidate francis suarez raffling off tickets, all you got to do is donate one dollar to his campaign.

suarez joins us later. the white house says the secret service did a thorough investigation into cocaine gate. despite naming no suspects. strangely the democrats are not concerned. >> has anyone used it? is their problem that has happened because of it? >> it seems whatever happened they took care of it. >> is that a problem? >> not up on the details. stuart: brian kilmeade on the democrat dodge next. ♪ rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989!

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the white house defended the secret service ending its investigation into the cocaine found in the white house. roll tape. >> there's hundreds of visitors the travel through this area where the cocaine was found. i'm going to leave it to them for additional information, certainly not going to opine on the process but we believe it was a thorough investigation. stuart: are you buying that? brian: of course not. your viewers are not and my listeners are not. nobody is buying it. the secret service, they are not known as investigators but the fbi was aiding in anyway possible. you get an investigator and you get the answer and go to extreme measures to do it. when it comes to investigating every element of things that go wrong in the white house and trump years or afterwards, no

problem, resources, what is worse? they tried and came up empty or they didn't try and want us to believe they did? either way, it's not good. if i'm the secret service i say listen, sorry about it, this is my livelihood, cocaine in the white house makes me look terrible. i got to find out, to make sure it never comes in again. he has no answer and no concern. another thing i did, i watched the sunday show, the only piece to bring it up was shannon bream. they don't bring it up. i don't think they have any idea, you saw that with hillary vaughan, she asked questions. stuart: the democrats realize cocaine in the white house is a big story. you better get rid of that because it looks absolutely terrible. they don't care, they don't want an investigation.

brian: they couldn't tell us where it was. you need security to get there. the president, the former president said you would know who it was that came through. only a certain amount of people did it. i am sure more than one person knows on top of that and if it wasn't the president and his son and his family, what was the key to the box? and just say not my family, not hunter. why did you have a press conference? dealing -- you are the only one on tape, multiple times, usually shirtless doing crack, doing coke and no one is convinced anybody without track record can give it up cold turkey anyway and if you did, you would be one of the first. stuart: this story is not going to go away. you can't end like that. another one. bud light sales continue to fall 24% from the week of

july 4th. is bud light done? brian: i saw charles barkley come out in support and this is what i think. you -- people boycotting, you made your message, never seen anything like it in my life ever. you are hurting the distributors, the men and women who drive the trucks, hurting the blue-collar middle-class people. got rid of the marketing genius that came up with this idea. they should be rotating their management. they show total disdain for their consumer in an attempt to expand the base, they destroyed their brand, but understand too there are so many people who make a living delivering this product, suddenly find themselves out of work or without work, the message has been sent if you like it, go back to it, got it. if he continues to go back to spokespeople like dylan mulvaney who embarrass you i got it.

looks like you have alienated dylan mulvaney, the pride groups and you alienated the blue-collar people who purchase your product. let's just not destroy the people who need to make a living. that is my message. stuart: what a story. the white house and the bud light. thank you very much, see you again soon. stuart: still had, house judiciary chair jim jordan gives a preview of the blockbuster house hearing tomorrow, the irs whistleblower, both of them, 2024 presidential candidate francis suarez on his quid pro quo tactic for campaign donations, lisa ruth will join us on trump's former chief of staff warning against a second term for trump. there's two irs whistleblower's, they will tell the house oversight committee tomorrow how they were blocked, a full investigation of the biden families overseas dealings. the cover-up can be more damaging than the crime.

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