good morning and welcome to varney & company. nothing boring about the whistleblowing hearings. marjorie taylor greene showed sexually explicit pictures of hunter biden, how is a showstopper and so was the

revelation joe biden had indeed talked business with his son. he's been dying denying it for years $17 million after, special is that the government covid of corruption and coverage but it was negligible and we are on it throughout the show to the netflix and tesla shaking up the market. both reported late yesterday. nice. pre-market, both down shortly. the dow industrial, eight straight wins, looking on a slight drop opening bell, down a few points. s&p done 13 for the nasdaq way down because of the decline big tech stocks. but going, right around 30,000 dollars according, 30,000 200 and six. interest rate, the ten year

yields 370 -- 382 it's gone up. that's not good for the nasdaq. two-year treasury, 480. that's front of to 485 as we speak. the president has to philadelphia this morning and will speak about the virtues, bidenomics but will be saying drugs, homelessness and crime ravaging the city of preferably fluff. ainsley ehrhardt exclusive interview with governor desantis and his wife, casey. how does she feel about being called america's character? jason aldean song, don't try that, they tried to cancel it. bad move. the song is clearly number one. a lifestyle story close to my heart, eating, drinking and socializing much earlier, the "wall street journal" stories include early birds are winning. [laughter] a wonderful thing. i'm an early bird. thursday july the 20th, 2023,

guardian company is about to begin. ♪ stuart: the american rejects, dirty little secret. [laughter] i think they chose that song to go with the political story of the day. this is it, six hours, two whistleblowers detailed political interference in the hunter biden investigation. good morning, take me through. >> so many. we will start with joseph ziegler, a veteran, gay and a democrat. he says hunter biden's tax misdemeanors were a felony the hunter underrepresented his income by $267,000 through false deductions, his drug dealer and

columbia university tuition for his adult daughter. ziegler said d.o.j. repeatedly put up roadblocks to the investigation and the first whistleblower gary shapley agreed. >> use u.s. attorney was hamstrung, limited and marginalized by d.o.j. officials as well as other u.s. attorneys. i still think a special counsel is necessary for this investigation. >> investigators are not allowed to follow on messages from hunter biden's backup where he suggested who is sitting next to his father. lesley wolf cited objects of executing a search warrant and president biden's residence as a deciding factor for not allowing it even though she agreed probable cause existed. >> in this case we needed to talk to witnesses related to things deducted on the tax return and in this case, it was the adult children we needed to

talk to. >> unbelievable and they seemed buttoned up there. they seemed they knew what they were doing, and they kept -- they were told to stand down over and over. if you thought that ours was a lot yesterday, house oversight chair james cromer says more evidence is coming that shows the biden family acted above the law and had the d.o.j. at their back to help them do it. the pay to play schemes or tax evasion scams. stuart: more to come. brad blakeman is with us. we've heard whistleblowers detailed political interference in the investigation. what happens now? would we go from here? >> i don't think anything is going to come of this legally as far as a suit or action, criminally civilly against those who are reliable but the most

damning indictment so far to come up as against the justice system itself and justice department. anoka republican or democrat or independent, when you see this treatment and politicization of bureaucracy, a powerful bureaucracy against americans and targets politically, this is not the american system and you can fool some of the people some of the time but not enough. they've heard from people working a job with no political ax to grind, only doing the job and prevented from doing that. whether republican or democrat, should be discussed. stuart: the rest of the media are covering this and if they don't, will biden feel any political impact? >> absolutely, there's enough water for candidates and parties to get this before the american people. what we saw yesterday should be shocking to anybody who believes in the justice system and believes in fairness and

equality and equal justice under the law. you don't see that happening under the biden administration. stuart: take a look at this headline from politico, biden downplays age talk but subtle accommodations are being made. more and more people are taking notice of biden's age and mental fitness is more of a story these days. >> it is because we seek the president, he's not aging well in the job. it's an arduous job no matter your age but typically arduous when you are reaching advanced age as the president has. we will have a president in his 80s incapable of being president. it's clear. this is the days of fdr where you can cover up the president', incapacity and inability to serve, the final phase of fdr, he was not even at work, he was

at a country hall not being able to conduct business and look at missus wilson when her husband was incapacitated, she basically ran the country six months and nobody blew the whistle, not even the vice president of the tide roll this out, a party can't read from, he's not able to be exemplary news, are not able to conduct conversation and we can see it as americans cannot rule on. clearly not able to do this job. stuart: we will leave it at that. thanks very much indeed. see you again soon. next get to the money, that's what this show is all about along with some politics. nasdaq 140. trouble in big test of trouble forests netflix and tesla, they reported yesterday both are down this morning. can you start with netflix? >> is there trouble with netflix so? they increased scrubbers by 8%

or 6 million things to the early stages of crackdown on password sharing an addict here. they increased free cash and international content. that helps them get through the hollywood strike. they raised price target to 525. stock is done, i think you have wall street responding to revenue of 8.19 million for the quarter. i am dismissing it, i thought it was a good report card. stuart: tesla. >> elon musk says he's okay with sacrificing margins meaning we can see more price cuts and production this quarter will be done modestly because of plan to upgrade, retooling plant. sensational, revenue of 24%. cyber truck demand, i will quote elon musk from the call. off the hook that you can't even see the hook and has newtek in it so he's very bullish.

full self driving, $15000. they will license the out. they're talking to someone else could buy it, it didn't is close to ms another revenue stream. we got the tech, he wants it, pay for it. stuart: adam johnson right next to you -- >> i'm a little nervous. >> i love what you said. stuart: why do you think the selling and tesla and netflix has gone overboard? >> i think it boils down to short-term trader versus long-term investor. lauren, he pointed out the two sides in each case, if you look at tesla, margins were down 25% because they lowered price but they sold 50% more cars so they made for it on volume.

i think people looked at the headlight and said this is terrible, cutting ties, losing profitability. no, dig deeper. they've got more money coming in, selling more cars. stuart: buying opportunity. >> by the way, with netflix, the stock was doing well in the actor as to the fiscal management team said because of the writers strike we may have fewer titles for a few months. that's a short-term flip so short-term trader, long-term investor. they are both wonderful customers read it's a great illustration of the short-term and long-term. stuart: apple developing their own version of chat gpt. are you going to buy it? >> i already own it. apple iphone for a long time, i don't think i will ever sell apple, it's one of the most innovative companies we've ever seen, it defines american ingenuity. what is fascinating about the apple ai story is it's a result of having hired a google executive in 2018 and paying

rights to google to use what was then called their ajax platform. david thought that it for their own so you have apple capitalizing on google, i think it will be huge and what i think they are really doing, everything is pointing toward ultimately an autonomous vehicle and i think ai and apple paves the way for autonomous apple vehicle. i would buy. stuart: you would? >> the apple car, i car for a decade. >> the reason is taking so long is because one apple does something, they do it right. you open it from the box, it works. to get an autonomous vehicle to work out-of-the-box, it takes time. stuart: yours was coming up, the white house doesn't seem too concerned with biden's declining approval rating. watch this. >> the polls don't tell the whole story, when you think about our economic recovery, it's stronger and inflation is

currently lower than any other leading world economic country when you think about g7 so those are the facts. stuart: that's the kind of thing we get stuck into on this program and i promise we will. ainsley ehrhardt had an exclusive interview with ron and casey desantis in florida. she's back from florida walking onto my set right now. [laughter] >> i know that voice. stuart: everybody knows each other on this program introductions -- ♪

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clearwater beach, florida, fun, fun, fun. it looks like a fun place. 84 degrees right there right n now. next case, governor bob santos has made culture war part of his 2024 campaign, was the biden campaign saying? >> incredible son, biden campaign spokesperson says ron desantis told cnn, everyone knows what wokeness is admitting his homework campaign issue is a political set. i'd say two things -- desantis message has been florida is where woke goes to die, he's been consistent and wants to take the national level especially when it comes to schools in the military. the second thing is, and i'll give the campaign some credit here. is this a national issue? the biggest issue for voters is

the economy, 31% say that. racial inequality, of walker's issue down at 6%. >> not a big issue for most. now that spring and ainsley ehrhardt, from florida sitting with us in new york city. he interviewed governor to santos and his wife, casey. can you start have casey reacted when she was called america's karen? >> i talked to her about the positives, there are a lot of pluses, they talk about how she dresses, how dutiful she is, a great mother and she handled her cancer treatments and pushed forward and what an asset she is, the secret sauce that i asked about the critics and the name-calling and things she has been described as and this is what she had to say. >> the walmart melodia and

criticize for your eyeballs. how do you deal of criticism? >> one think the corporate media to get right, i shop at walmart. it's interesting and you could probably synthesize, when they come after you and they are calling you names, that means they don't want to litigate the merits, they don't want that conversation, you want to call you names and get you to back down but the number one thing, we will not back down when it comes to our family. stuart: what did she say to you? >> i said what makes you different from trump? is number one in the polls, your number two. he's critical of you and that is because he's number two but what makes you stand apart from trump? it seemed to policies and conservatism are similar and this was his response. >> what sets you apart from trump? it seems you agree on the issues and their policies are similar. >> i think -- i've given him credit, he's done a lot of good things. i think i'm more likely to be

biden, the record in florida shows that. i think i'm more likely to get the stuff done, i'm a former military officer. i'm disciplined, focused, i don't worry about the side issues, a lot of the stuff that happens on a day-to-day basis is a distraction. i don't try to start up, i tried to get the job done every day. i'm somebody who's able to serve two terms. >> they were a unique couple. i wouldn't put anything past these two. if he doesn't end up winning here, i think he could be the president in the future. they have a presence when they walk into the room, it is pretty dynamic and ping-pong off each other, they make a good team and his resume is stellar, yale, harvard law school, served our military in the navy, became a congressman and governor of a huge state, turned it read

basically, 1.15 million votes in the last election and not running for president and they are both young. stuart: any explanation, did you broach the issue that his polling numbers have come down? >> i said if you look at the clear politics which is the average of the polls, 33 points below donald trump but says give me time, he still has the debate coming up, he wants donald trump to participate, plus the start for the election i think, the end of august, we are sponsoring, august 23 so we will all have to watch and if trump doesn't get in the debate, because a good chance for someone else to shine and it could be ron desantis. stuart: that came across nicely. nice people. stuart: we met their children, their oldest child, she's really smart, their middle son mason is a great athlete. they were playing baseball in front of the governor mansions door and some of the balls were hitting the door, pretty funny. first time in 50 years the

little ones have lived in the governor's manchin, the latest one is darling, she has big blue eyes and they say she rules the roost. [laughter] stuart: thank you very much indeed. a related note, need to comment on the new poll how many people would be willing to vote for third party. >> these are huge numbers, 47% would consider voting for third party candidate. they are dissatisfied with the status quo and they don't want to see another biden trump rematch. who do they prefer, who is a third party candidate? did you read the "wall street journal"? stuart: tell me. >> he says democrats should be worried about this because to reliable voting groups could defect young people, completely disenchanted. what has biden done for me? that can make a huge difference in the states that determine elections like arizona and georgia. be sure you how it's stacking up on the gop side, 54% support

that. democrats have 71% support, rfk junior 14% and if it's a déjà vu of 2020, biden does beat trump, 49 to 44 but essentially unchanged in the past month. stuart: product, thanks. check futures again, we open the market in six or seven minutes time, a little bit of red ink for the dow, a lot of red ink for the nasdaq. we'll be right back. ♪ of less than 7%.

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on the futures market, the left-hand side of the screen, nasdaq down 125 points. cr martin joining us now. on to focus on netflix and tesla, both down following reports. are you going to buy either of them? >> i like tesla in the long run. i think netflix glory days may well be behind it so in a deep enough drop i might liken some tesla. stuart: that's it, tesla?

>> that's it because it won't be a blockbuster but i think they are having other, or made some points how many people are adding in good things but when you add that many people, take away revenue for as and still don't meet revenue number, that's a yellow to reddish flag for me. stuart: you are not jumping into either, are you jumping into any stock this morning? >> this morning i am watching what's going on in semiconductors, taiwan semiconductor and said they are delaying their plant starts and other things going on in that company, geopolitical upset, they are way down this morning. that is drawing down some other thoughts that i do like. i like micron and i think has

pulled back, it has laid back as it has this year as others in the tech industry and i think we are going to be building out going forward for years so long-term play, i like buying these chip stocks. stuart: and you do like tesla as a long-term play, long-term? >> i do and i think that is prudent buying is called for. they had stockholders fund, one of the best competitive advantages and generic for that company. the margins are huge and dropping margins a little bit is okay as long as they don't drop them to quickly. stuart: micron and tesla, long-term ties. we've got it. thanks a lot. there you go, press the market and the market is open. 9:30 a.m. eastern time, thursday morning.

dow has opened with a modest gain, not bad. ninety points, a quarter of 1%. i'm not sure what they are chanting. usa, usa is being chanted in the background. not sure the occasion. the world cup? maybe, who knows? down right now is up 90 points and about two thirds of the dow 30 are in the green. s&p 500 also opening, i think a little higher this morning. sorry, i got that wrong, it's down .21% and the nasdaq composite, i know that's going to be way down. after more than a half% but 14000, 274. our to show you they check, i think most are going to began with the exception of apple and fish got a story on apple. meta, amazon, all down. the second apple working on a rival chat gpt, got any more on

that? >> late to the ai game, i'm going to go with no, they have detect your face and photos and the vr headset. where is apple gpt? bloomberg says they are working on it and they will have a release of it in 2024 so yes, it's coming. stuart: it did pop when the announcement was made yesterday. down a little now. >> apple seems better is to read on the street for a company we know. stuart: old tech, ibm reported late yesterday, what do they do? >> profits were stronger and margins expanded, revenue missed at 15 and a half billion dollars that was dragged down by a decline in computer sales, stock is one and three quarters% because they maintained their forecast and that is showing investors maybe this corporate pull back on text spending might not be so that. stuart: old tech, 138 on ibm.

blackstone, i know stock is done, i own a chunk of it, a sliver to be truthful. what's the problem? >> earnings decline, distributed earnings that represent cashews to shareholders fell by nearly a billion dollars in the quarter, 39% decline year-over-year. stuart: i'm not too worried because that has had a terrific wrong the last few weeks is gone from 90s to 105 and i'll take that. >> i love that you know, your today is up 45%, month today is up 25%. stuart: do you have good news for me on microsoft? >> from city, for $25 a share. monetization from artificial intelligence, they think this ai story has legs so they say stock

is for 25. stuart: i'll take that. thank you very much. johnson & johnson, i know the stock is up, it must have been a good report. >> they are for health, they saw a rebound in her procedures and nonallergic surgeries like hip replacements we've been speaking about. meditech rose, for your sales shy of $100 billion. we going to see a rotation -- you are scared. [laughter] is not that big. stuart: wondering what you're going to say. >> rotation into johnson & johnson which hasn't done much the past decade. stocks down 10% this year, maybe we see somewhat of a rotation. stuart: all right, we will see how it works. anheuser-busch, i think stock is, does somebody finally like the bud light fiasco? mexico by rating at morgan stanley who increased to 6850. they say -- i'll just quote

them. stock represents very favorable risk reward after the bud light controversy. i was originally prepared to tell you based on premarket activity wall street didn't believe what morgan stanley was saying but the stock did open 37 cents higher. stuart: bud light is a small portion of the overall business but a very small portion of it, it doesn't take the whole company. >> you can also focus and redistribute how they spend their money on other brands. stuart: i'm dying to see if bud light sticks around. will they just say goodbye to it? i don't know what they'll do. >> how long would the iconic beer brand of the country go bye-bye? it can't happen that quickly if it happens at all. stuart: i agree it's unlikely but a possibility. >> you're not seeing transgender people by more bud light in

support. >> i have no idea what transgender bike, no idea. moving along. we are now five and a half and is trading session, where is the market going? this could be the eighth straight winning session for the dow industrial, out of 150 points, about 35000. the dow winners topping the list we have there you go, johnson & johnson, ibm travels, chevron, goldman sachs coming back. for the s&p 500, that talk by science corporation. we have j&j on that list. nasdaq winners, can i see them? there they are. astrazeneca constellation energy, cadence design, vertex, big tech names on the list because that's the winners list

and a lot of big tech is down. ten year treasury yield, it's coming down -- sorry, it's going up 7.5 basis points now at 382 on the ten year treasury. the price of gold still aro around -- i keep getting it wrong. the price of gold is now above $2000, i wasn't looking at yesterday and it went up 2015 to be precise. big horn 30,000 200. the price of oil going up this week, $76 a barrel right now. gas doesn't change month, up 4% today. average price for a gallon of regular, gasoline going up not much for going up 358 is the national average for regular, i believe 2 cents higher overnight. california, 489 for regular. coming up, to irs agents alleged investigators were not allowed to dig into joe biden's role in

hunter's finances. >> u.s. attorney in denver and the investigation was hamstrung, limited and marginalized by d.o.j. officials. >> prosecutors said not to ask about the big guy conducting interviews. stuart: jason chaffetz says the hearing says it's biased. you will be here shortly. jason aldean, latest target of cancer culture, should companies and brands stay away from politics? will ask and could an espresso a day alzheimer's at they said test just that. i had to get doctor siegel on this and he's in, he's in the. ♪

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recommend talking to sin, the dow of 150, nasdaq down 57. check out amazon, they are going to the let shoppers pay with the palms that whole food stores the end of the year. here's a map for you shows areas where alzheimer's is the most widespread. which is the worst affected area? >> the east coast for the most part. miami has the highest population of senior citizens will alzheimer's, 16.6% of the population, similar numbers of new york and baltimore maryland, the question is why? research points to big percentages of blacks and hispanics that have alzheimer's. on the flipside we could think of a small conservative older americans, 57 up affected by old-timers texas, arkansas and colorado but the family can relate to this issue, 7 million

americans over 65 are suffering from this disease. >> a real concern. doctor siegel is with us, a new at home alzheimer's has been kicked said to be on the horizon, can you tell us more? >> it's very exciting news and i always joke every week we are doing this topic but this time we are doing it because it's exploding in terms of information, a lot is coming out at once and there is a study out of sweden which literally finds the proteins associated with alzheimer's, beta family and a drop of blood. they only tested it in 300 people so far but what was interesting was accuracy is 80% for diagnosis versus 50% for primary care doctors and i want to tell you, i talked to my wife this morning and we both agreed primary care doctors are not good at diagnosing fist.

it's about changes in behavior, loss of memory, front or low structure. the way we diagnosis pet scan, we look at the frontal part of the brain to diagnose it but you've got to go to a doctor who is a specialist so if we can do this with a simple blood test, it can combined with new treatments coming up. a great study, decreasing the way to progression if you diagnose early. the downside we talked on the shelf here, the drugs have significant side effects and can cause brain swelling will may not be the drug of the future but only combining diagnosis early with early treatment is the way to go. stuart: we are glad to hear that. one more on the same subject from the study shows espresso as you know, coffee may prevent alzheimer's. tell me more about that.

>> i love espresso. i don't know about you, i haven't been up in the morning espresso with you i love espresso, i am happy to hear this but i have to give a bit of road, is best to, this stop the proteins from forming in the test tube, not the human being but it brings up something else we talked about which is probably having a little coffee or espresso in the morning, exercising, eating mediterranean diet which is definitely part of, it is being engaged in keeping mentally engaged is important if there is enough study that shows people with hearing aids you talked about on the show, developed alzheimer's at a slower rate. because they are engaged, they are in the world and stop progression of the disease. stuart: is a serious subject, 2500 illegal migrant children were found to have released 45

states over the last year, that sounds like it's close to real thing what you think? >> important story, i'm glad you brought of the. stripling last several years, i believe migrants are playing a part. untreated tuberculosis and central america and mexico and countries where people are coming from across the border but i have to say in this is really important, we used to test people for tuberculosis at ellis island, grandfather, they wouldn't let him into the country if he had tuberculosis, electrically tested for. you can't do that when someone is crossing illegally, can you? nobody is talking numbers in terms of which groups, in which groups don't, it's a disgrace, infectious disease that is deadly and difficult to treat brain brought into the united states. i believe migrants play a significant role.

they are not screened. stuart: we believe that, thank you very much. an interesting walk, later you and i think this is a relentlessly new york city apartment : preparations. stuart: the help department. >> a medical team time help to 12 pushing commission to study why blacks should get reparations. estimated cost would be hundred billion, any form of universal healthcare, that would be health department, medicaid expansion and cancellation of medical d debt. last year mayor adams said he was open to the idea of reparations to level the playing field and previous wrongdoing. where is that coming from? >> they want to use money as a way of compensating people for alleged past discrimination and also use money to lower

inequality ratio between the races, that's what they are trying to do. >> and money do that though? let's say you get your check, $1 million, whatever it is, what happens now? stuart: where does that million dollar check come from? >> some people say it should come from federal. stuart: i don't think we should discuss how much people should get, we should be discussing the principle of reparations. are we prepared to allow the shop the money for past indiscretions? >> they are exploring it now but who else is going to raise their hand? stuart: elizabeth warren want reparation for yays, they were damaged because they were not allowed to marry. everybody's got a story. other people's money. stuart: don't forget your friday feedback.

e-mail your questions, comments, anything you like. funny viewers at fox.com. by economics in philadelphia this morning, they won't see real problems there, drugs, crime and malicious, a democrat city and our president should see what's happening there. he won't but he should. that's my take next. ♪ ♪

will

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the actors and writers strike push hollywood hold that's got streaming companies looking to cut costs. lydia with us, does this mean less content? >> you can look at that in two ways, positive and negative, the positive here is maybe this will free up cash flow for streamers as they try to cut costs in the midst of advertising problems if we take netflix, out with earnings yesterday, they said they're going to have an additional one and a half dollars in cash flow because they are not investing in production.

total to 5 billion in cash flow and when you look at amazon is another example, it spent roughly $7 billion on original shows last year. many of the shows failed to deliver audiences so amazon ceo said to take a hard look at how much is spent on content production and maybe it will force cuts. on the other hand, the lack of conflict could be a big problem. bob geiger recently said strikes could not come at a worse time, analysts have been critical of mass houses lack of government development. the titles will be impacted. this action, lilo and stitch, bendable blade have all had to pause production. work stoppage is not going to help but consider this -- is also expected netflix could pull ahead when we think about the

content production because it can now rely on a global production capacity is not impacted by the strike in hollywood netflix proved this to us during the pandemic so subscribers clock, outside of the u.s. consider the french ministry really, also the famous swiss games we were talking about made in korea. others also show netflix and how it cracks down on password sharing, we are learning is helping and pushed cheaper at your support program, netflix reported it added 6 million subscribers outpacing 1.9 million expected, a turnaround from a year ago but lost a million subscribers. if brings global subscriber base to 238 million worldwide and a sizable share of streaming consumed cases only behind youtube. interesting netflix blamed bringing about the strike but

also bear the best out of streamers. stuart: more varney plumbing ahead. ♪ ..

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