tv Varney Company FOX Business July 20, 2023 11:00am-12:00pm EDT
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>> if you're not going to enforce the laws, back the blue, if you're not going to fight to reduce the cost of energy, you're going to have this rapid inflation that continues to persist. those are the things about bidenomics that he isn't going to talk about. >> the most damning indictment so far to come out has been against the justice system. when you see this kind of favorable treatment, this is not the american system. and the american people, whether you're republican or democrat, should be disgusted. >> this morning, stuart, i am watching what's going on in semiconductors. they have some geopolitical upset. that is drawing down some other, some other chip stocks. >> the market does not just gradually rise, it's going to give some scare days. the bull withs are smiling right now -- bulls are smiling right now, and eventually the bears will get smiling. ♪ nothing i can see but you when you dance, dance, dance, girl. lauren: i'm always almost positive.
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stuart: justin timberlake, i'm not going to say who's that, i know who he is. lauren: jt. >> the timberlake booze, right? stuart: you're killing me, failla. it is 11:00 on the east coast, thursday, june 20th. to the market, please. same story, dow's up more than 260, nasdaq down almost 200. mixed market. show me big tech, please. i think that's pretty much a mixed bag as well. no, it's not, they're all a down. apple, alphabet, am, meta, microsoft all down not by much except for amazon and meta, both down 2.3 and 2.8%. the 10-year treasury level has been moving up. ten basis points, 3.85 is the yield on the 10-year. yield up, nasdaq usually down. now this. politics. the culture wars. free speech.
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how i detest socialists. that's what i usually deal with in these my takes. but today, oh, no, something different. i want to talk about this: america is becoming a nation of early birds. dinner parties at 5 p.m., question mark? consumers of all ages are sliding activities back, end quote. the writer, ray e -- rachel wolf, is on to manager. i think she's talking about me. in florida i am an aficionado of early bird specials, and i'm proud of it. ms. wolf assembles plenty of evidence. according to yelp, restaurants now seat twice as many people between 2-5 p.m. as they did in 2019. uber, trips to restaurants in the 4:00 hour up so % -- 10%. trips to restaurants after 8 p.m. down 9%. way shows are starting earlier and, believe me, they are in retreat. this is happening because remote work changed work and socializing schedules. fear of crime gets people
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running home early. to beat rush hour traffic, you get to work early and, if possible, you leave early. it's just a change in lifestyle for millions of people. as the journal says, the early birds are winning. it's a wonderful thing. third hour of "varney "starts right now. ♪ ♪ ♪ stuart: i've just been attacked on my own set. [laughter] my comrade here. jimmy failla is with us. would you like to become an early bird special to officionado like me? >> i would do anything like you, but you're only going to the early bird because you've been thrown out of the bar. stuart: that's not true. [laughter] >> you're like, well, i'm out, i guess i should just eat. level9 with the american people -- lauren: reservations at the prime time, so you push them up, and you can take the 5:30.
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that's open. stuart: do you agree with the premise that america is getting earlier and earlier? >> yes, and i'm going to give you two reasons. this is important, okay? one is, i know so many people in the restaurant business, people in general are eating less because we're now living in a very don't generallic age. in the age of instagram, i've noticed people are a lot more health conscious. and when they do go out, they're eating better. everyone i know who runs a restaurant says they're boosting sales on, like, the high protein side, seeing a decrease on the carb side. so it's the vanity of the instagram age. stuart: fair enough. >> the other thing is you're right to say we're just wrapping things up earlier because we're all, i think, collectively more engaged in self-care as a society which i think is also a good thing. if you're out until 4, 5 in the morning, there's not a lot to be showed for it, speaking to a guy who's scrubbed off a few face tattoos in my day. [laughter] you know, it gets tough if you're trying to make it in the
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corporate world. stuart: you used to be a cab driver in new york city, a few years ago. >> yes. and the way my radio show's going this week, i will be a cab driver -- stuart: that's not true. you're a success. >> when you are a cab driver, you are an affordable form of therapy. people know they're never going to see you again, so they dump everything on you, their conspiracies, their love life. but here's a news flash, sometimes you see them again, and it's audiocassette awkward as heck. good morning, cowboy, good to see you back in the saddle, champ. [laughter] you've got to, like, not talk about it for 3 miles. stuart: i feel i'm looking control of my own program. i shall move on, fail rah. there's a lot of -- failla. there's a lot of buzz over the barbie movie. rolling stone, right-wing backlash against barr barbie is failing. "vanity fair," disappointingly low tea if from ken. the republican war on barr with by continues.
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what's the problem the people have with the barbie movie? >> two things. really quickly, this is where the right could pick its battles better with, because you look ridiculous. that being said, if you wanted the argument, okay, it is very heavily stooped in social justice themes, okay? there's a lot of strong feminist vibes. but, again, it's a movie about girls' toys. i wouldn't expect it to be rah, rah patriarchy. there's a crayon map that shows the nine dash line for china, and i promise you there's not a single kid looking at this line. that's not a popular opinion right now. stuart: no, i think you're right, pick the right fight. >> yeah, of course. stuart: pick the right one. >> no, because we look silly. this is one of those moments where you could be making a brilliant point about the social justice warriors in hollywood bowing down to the human rights abuses in china, okay? >> maybe that's a good, fair point, but they're still going to say over at fox they're yelling at barbie. happy friday, everybody, and
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then we look like a bunch of nuts! stuart: i really have lost control. [laughter] jimmy, you never fail to make me smile. >> i'll see you at the early bird. [laughter] stuart: thanks, jimmy. complete change of subject. look at nvidia, please. we've got an analyst on our show, his name is ben. he's with us now. and he follows nvidia, and he says nvidia is showing shades of apple. finish now, i want to ask him what does he mean by that. ben, what do you mean by showing shades of apple in nvidia? you think this thing's going straight up. >> well, nothing ever goes cleaa straight line. it's nice to be here, stuart, thank you. i think where they're like apple is that they laid the groundwork for years in terms of a full-stack approach to attacking a.i. and apple had a full-tack approach to attacking mobility -- full-stack approach
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to attacking mobility where they created an app store that allowed them to monetize apps on, with smartphones. and nvidia is doing something pretty similar where with regard to a.i. they don't just do chips, they do software, they do some services, and they're thinking through every bottleneck to monetize a.i. apps. stuart: okay. at the moment nvidia's stock is at $460 a share. i understand there's going to be some ups and downs, but you think it's going to 625? is that accurate? >> yeah. yeah, we have a 2-year target. we think it can get there. what we think about nvidia is that they have long-term earnings power of around $20 a hair. now, granted, the near-term estimates aren't that high, but we do see a data center business that has continued momentums. our checks are actually very positive, but we also think the incremental margin on the upside will be pretty significant. is so with long-term earnings power in that range, that's not
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so bad of a target. stuart: okay. i know you also cover microsoft. microsoft at the moment is around, what, 340 i think it is, no, 350. where do you think it's going? >> well, our target there is 430. that's over a 2-year period. microsoft is, in our opinion, potentially going to be the de facto interface for pc users on how they interact with a.i. they have great real estate when you walk in to work or you open your laptop with windows to interface with a.i.. and when they're rolling out these copilots, we think that they have an advantage of users having the awareness with it already being on their desktop or their laptop to use it and enjoy the productivity that you can get from these generative a.i. applications. stuart: ben, that was dramatic stuff, ask we love it. i do own a little bit of microsoft, and i'm very pleased that it's going to 430 per share. anytime you want to come back
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and update that prediction, we'll take you. ben, thanks for being here. >> thanks. take care, stuart. stuart: thank you, sir. let's have a look at some of the movers. american airlines down just a buck, but that's 5%. lauren: yeah. so travel is very strong. travel will stay strong this summer, then what is the problem. so there are the early signs of weakening pricing power happening at american airlines and maybe some others. they raised their full-year profit forecast, but if you look at a metric called revenue per available seat mile, that's expected to be down around 5% in the current quarter. stuart dr horton? lauren: the stock hit a high earlier this morning, and now it's down 2.5%. they raised their full-year forecast for homes built, but then we got existing home steals for june -- sales for june, and they slipped to the lowest since 2009 because americans are simply feeling priced out. stuart: only 4.1 million existing home sales in america
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today, that's a very low number. taiwan semi. they're still down. lauren: yeah. they say sales are likely to decline 10% on the year, and then they're planning -- thanks to the biden administration -- an arizona factory. now that has to open later than expected. the reason is they can't find skilled workers. so the ceo says they might have to bring them in temporarily from taiwan. so i guess for chip stocks, because most of them are down today if not all of them, there's more to their stories than just artificial intelligence. stuart it's true, isn't it? i'm glad you pointed that one out. thanks, lauren. the women's world cup officially kicks off down under, that would be in new zealand and australia. team usa hoping for their third championship title in a row, they'd be the first team to ever complete a threepeat. we're on it. climate czar john kerr are i has fail -- john kerry has failed to secure a deal with china. is it time to reevaluate our whole climate strategy? senator joni ernst will join us
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now. the president's touting bidenomics, but the polls show people are not buying it. >> reporter: yeah, stuart, good morning. they really are not buying it. americans simply feel like, essentially, that president biden shouldn't get any credit for any of the good economic news as of late, can and they are just not feeling nearly as optimistic as the administration wants them to. a new monmouth poll finds that 30% of americans feel the u.s. economy is doing better than the rest of the world's since the pandemic. the same poll finds that americans are split on biden's handling of jobs and unemployment, but just 43 percent approve of his handling of transportation and energy infrastructure and and an even lower 34 percent approve his handling of inflation. the white house insists though biden just needs to keep explaining bide with mommics. bidenomics. >> so, look, the polls don't tell the whole story. they don't tell the full story, and we understand that. the data shows the combination of unemployment and inflation is
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a near historic low. that's what we have seen. consumer confidence is increasing and also wages are rising. we're going to continue to have those conversations with the american public. >> reporter: president biden is in philadelphia today touting how bidenomics created 1,000 new union jobs that will begin building a new hip here called the acadia designed to build offshore wind farms in the united states. he'll also announce an expansion of offshore wind farms in the gulf of mexico. the biden administration feels like they have the wind at their backs thanks to a series of positive economic headlines. the odds of a recession have father-in-law, and inflation has gone down for 12 straight months, but critics point out that average hourly wages are down 3% since biden first took office. they'll also say that the fed deserves the credit for inflation dropping and that it is still too high. and as you know, stuart, new and existing home sales are still
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down. stuart: bryan llenas, thanks very much, indeed. the u.s. and china failed to reach a new climate agreement. john kerry described the taughts as productive, but he came up empty. iowa senator joni ernst is with us. senator, is it time to revise our green policy? after all, why should we continue to suffer by trying to constrain our economy while they continue to pollute? >> stuart, wow, you are on spot. why do we continue to allow china to do what they do? we are operating once again in a biden administration if that simply wants to appease our adversaries and then really stick it to the american people. stuart: do the republicans have a climate plan? >> well, we do. and it's just by with allowing common sense climate-friendly policies to move forward. and that's typically done through incentives and common sense, not over the top mandates that just continue to enrich
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china. if you look at president biden's electric vehicle mandates, all we're doing is shipping money to china that comes back to us in the form of lithium and cobalt batteries and so forth. we really have to invest in american technology, american mining and refining. we've got to start moving away from china and focus on doing the right thing for the american people, not do what's right for the chinese and allow them to walk all over us. stuart: we have seen a wave of extreme weather all across the country recently. powerful storms, heat waves. you're in iowa. that's farm country. you've got to be worried about this extreme weather in your state. >> you know, we do worry about the climate across the united states, and we have seen some severe weather and drought across iowa. but again, it goes back to this administration and making sure that we have the right policies in place at the right time. let's focus on americans and not
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some chinese-driven can agenda. i want to point out as well that here we have this climate czar, john kerry, who continues to jet around the world emitting tons of carbon dioxide into the air, and yet wants to hold americans accountable. what a hip -- hypocrite. stuart: don't we at some point have to change strategy, change tactics? because the u.n.'s climate targets are not going to be met. i mean, we've got to change strategy somehow, haven't we? >> yes. we can't see the united nations taking ahold of this and our american taxpayers paying for the brunt of it. if you look at the united states of america, we are doing quite well when it comes to cleaning up our own pollutants and what is going into the environment. but you look at other countries around the world, primarily china, again they continue to do as they please. they adhere to no standards, let
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alone american standards. and yet we continue to send business their direction. we've got to stop doing that. stuart: i'll leave it right there. senator joni ernst, thank you very much for joining us. we appreciate it, always. >> thank you, stuart. stuart: have a look at that market again. i see a nice chunk of green for the dow industrials. the dow is up, what, 220 points, 230 right now. nasdaq, though, down 177, s&p down 16 points. how about this one? one mcdonald's branch charging $18 for a big mac meal. that is not going to over well. ashley, even to me that seems extremely expensive meal from mcdonald's. [laughter] ashley: it is. stuart: where is this happening in. ashley: at a rest stop just i off interstate 95 in darian, connecticut, one of the country's wealthiest towns. the eye-watering prices were recorded by a motorist who took a photo of the menu.
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the restaurant charges $19 for a quarterpounder with cheese and bacon or a quarterpounder deluxe. a cheeseburger usually found on the dollar menu going for $17 for two. get this, on grubhub the items are even more expensive. a big mac meal will cost you $21.59 while a double quarterpounder with cheese meal costs $22.79. there's been no comment, by the way, from either the franchisee that owns the vape or mcdonald's corporate office, but that is expensive. stuart: can you sell an $18 hamburger? ashley: yeah, right. stuart: good question. we've got some new numbers on how many new yorkers use marijuana, i think it's at least once a month. break it down for us, can you? ashley: yeah. some 2.7 million new yorkers enjoy marijuana at least once a month, and if you walk the streets of manhattan and have gotten a whiff of that
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delightful smell of skunk, you'd believe it. state cannabis regulators e necessarily one-fifth of new york adults use weed at least once a year, and most get their pot from illegal distributers. new york legalized recreational marijuana in 2021, but so far legitimate sales have been low, and the rollout of the state's legal cannabis program has been slow as well. new york is also looking to stamp out illegal weed shops which have exploded to as many as 1500 in the big apple alone. by the way, marijuana farmers throughout the state say they're having to stock the pile weed from last year because there's just not enough licensed stores to sell it. stuart: man. new york's made such a mess of legalization of recreational marijuana -- ashley: yep. like california, absolutely. stuart: thanks, ash. colorado is giving out free college tuition. there is, of course, a catch. you have to be studying for an in-demand job. we'll explain it all. artificial intelligence is a sticking point in the hollywood
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strikes, we've got that. actors are worried a.i. will steal their jobs. next, i'm talking to the ceo of a leading hollywood a.i. firm. could a.i. replace actors completely? good question. we'll get an answer too. we'll be back. ♪ ♪ welcome to the future ♪ thinkorswim® by td ameritrade is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better.
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stuart: time now for this day in history, "american built." july 20th, 1969, apollo # 11 astronauts neil armstrong and buzz aldrin, they became the first humans ever to land on the moon. six hours after landing, armstrong took his first step on the moon and famously said, that's one small step for man, one giant leap for man kind. july 20th, 1969. and now you know. don't forget to watch "american built," mondays, # 9 p.m. eastern only here on fox business prime. back to the markets, please, i see a nice rally for the dow industrials and a nasty selloff for the nasdaq. netflix really going places today. lauren: wall street seems to be focusing on that lackluster revenue number despite netflix
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adding almost tipple the number of subscribers as expected in the quarter. i think the thinking is the early signs that this ad tiering of the $7 cheaper program and thes password-sharing crackdown, they might not be the cash cow despite this promising start. stuart: that's quite a selloff, nearly 10%. lauren: seems a little bit overdone. stuart: c3ai -- lauren: yes, a.i. stocks, up 200 and 300% this year respectively. is wall street rethinking them or rethinking a.i. and all the hype around it? upstart helps lenders use a.i. to make their lending decisions. lenders are pulling back, right? stuart: this is the first time for a long time that i've seen a.i. on the prompter, and the stock's gone down. you don't see that very often. frontier airlines? lauren: celebrating with $29 fares, the catch? book today by midnight. stuart: all right. the women's world cup kicked off
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this morning. it's being held in australia and new zealand, down under. ashley, for a start, just tell he me when does the u.s. play? ashley: the u.s. start their campaign friday against vietnam, saturday local time, and looking for an unprecedented third consecutive world title. both cohosts of the tournament, new zealand and australia, won their opening games today 1-nil. i saw the australian game, bit of a with thing. but -- battle. the governing body of world soccer, fifa, says there's no guarantee players will receive the payments they were promised. let me explain. fifa had previously confirmed that the 732 players taking part in this world cup will be paid at least $30,000 each. the paycheck rises if teams do well with each player for the winning team of the tournament earning $270,000. but fifa says there are too many complications in the payments, handing them out including residency and taxation issues.
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they say that will be best handled by the individual countries. so a little bit of a mess there there. and from prize money, by the way, to burritos and beans, chipotle offering free meals when the u.s. women's team scores a goal during the first three game. when the team scores a goal, tying goal or lead-extending goal, a unique code will be posted on the women's twitter account. the first 2500 fans to text the code get a free meal. so there you go. i know you're going to be all over it, stu. they're institute not chipotle, but the world cup. [laughter] thank you very much, indeed. let's get to the hollywood strike, this is a big deal here. one of the big concerns is, of course, artificial intelligence. we have with us a big hitter in this area. the chief executive at formula monks, that is a hollywood studio a.i. firm and a very important firm at that. he joins me now. brady, welcome to new york. good to see you on the set. >> glad to be here. stuart stoort could a.i. just
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flat out replace actors? >> no. i think what's really important to understand is a.i. is not going to eliminate jobs. it's like electricity, it's going to empower human innovation, not replace it. stuart: i could see the time when you've got somebody on television, for example, an a.i. character, not a real person, and the words are being put into his or her mouth. i can see that happening. >> i think the delta between that and reality is pretty broad. i think humans crave authentic experiences, and an important part of a.i. is going to be enailing humans to do more -- enabling humans to do more, be more capable at their jobs and reach out to audiences in new ways. so i think that a.i. is going to create a proliferation of new content. stuart: you're heavily involved in this. this is what you do. >> indeed. stuart: if i ask for a script from a chat bot, for example, is that script up to the quality that i would expect, the creative juices have gone into it? >> i don't think so.
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i don't think you can replace human judgment that easily. i think that a chat bot could help a writer -- stuart: they're going to try. you know they're going to try. [laughter] >> certainly, certainly. and i think that, you know, what will happen ultimately is a.i. is going to make a writer's job easier. they're going to be able to look at a multitude of options. you can't remove that layer of human judgment from the equation entirely. a machines mimic, and a.i. in particular, mimics human behavior. it doesn't actually -- it is not sentient. and i think we're a long ways off -- stuart: it's not sentient. >> it's not. stuart: are you absolutely sure of that. >> i'm absolutely sure. [laughter] stuart: tom friedman, brilliant guy on "the new york times," couple months ago he did an a.i. test. he had a sonnet, he had a statement put into the form of a shakespearean sonnet p. then-translated into arabic -- then it was translated into arabic, and that is a creative process. the a.i., the chat bot did it
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all, but it was creative. you've got to be creative to go from english to arabic in a sonnet form. >> yeah, but with i think, critically, you have to remember that a.i. is just mimicking human behavior,s again. so if you don't have source material the, a.i. isn't going to be able to perform. if you want to create a new genre of music, for instance, you need human input. you could use a.i. to synthesize a song that sounds like marvin gaye, but you can't necessarily create new material from scratch with a.i. to do. in the future, perhaps, but i think we're a long ways off from that, and humans make use of technology. we take technology and use it to make our lives easier and simple willer, to remove the mundane, to automate the work that we do every day just like the transition from typewritten memos to e-mail. stuart: okay. any sign at all that the strike might be winding down or coming to an end? >> i think we've got a ways to go yet. i think people are very anxious. the only way to really temper that is to have an open,
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transparent dialogue. i see a.i. as a democratizer. i think it's going to empower individual content the creators just like streaming video did to create tons of new content that's going to be hugh-personalized -- hyper-personalized and targeted. stuart: how are you using a.i. in your company? you're a global consultancy. you've got 9,000 employees, i believe. >> yes, we do, across the country. it's about automating the repetitive tasks that humans actually don't want to do. give you an example. if you're running an advertising campaign for bmw like we do and you immediate to create 400,000 distinct assets, version of bmw's product line in different locations, configurations of cars, different paint jobs, etc., that is a tremendous amount of very laborious work that isn't particularly creative. it's very programmatic. a.i.'s doing a wonderful job at taking cars that humans design in ad campaigns that human
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rights and design and enabling us to go much broader much faster and remove tasks that, frankly, it's hard to find anyone to actually do. [laughter] stuart: that's terrific. brady knows what he's talking about with a.i. and graciously came on to our program to explain. we really appreciate that, brady. >> thanks for having me. stuart: appreciate it. i think the producers put this here to get me to work forever. here's the story. a new study shows white men see the biggest cognitive declines after retiring. [laughter] it's almost three times more acute than their black peers. we will try to explain that one to you. i'm grateful for you putting it in. a bigtime donor rescinds his $400,000 gift to arizona state university after the school fired a staffer who invited a conservative speaker to campus. the horror. of the donor blames, quote, left-wing hostility. bill melugin, star reporter, has the report after this. ♪ ♪
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stuart: colorado has launched a free college program. hmm, u eau. ashley, is there a catch? [laughter] ashley: well, there's always a catch, but this only applies to certain careers. so so, for instance, if you're interestedded in nursing, fire fighting or construction, you can, indeed, now receive a free community college education in colorado. it's part of a 38.6 million state program that officials hope will generate thousands of workers into high-demand industries. the program covers tuition, books and other fees at 19 community and technical colleges statewide for students pursuing credentials and education, construction, law enforcement, nursing, forestry and fire fighting. the programs generally take six
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months to two years to complete depending on the field. but you know somewhat? sounds like a good deal to me, stu. stuart: is i've got to pay for my degree in art history? good lord. the horror, i tell you. ashley: yes. and french poetry. yes, i know. stuart: medieval poetry, ashley. ashley, thank you very much is, indeed. [laughter] we should put this on the air more often. a wealthy donor to arizona state university just rescinded a $400,000 annual gift. bill knew eleven -- melugin has the story. who's the donor, and why is he or she pulling the money? >> reporter: stuart, he's a wealthy real estate investor. we'll get to him in a second, but he's essentially given millions of dollars to arizona state university over the years, but he says his support of the school is now over due to what he calls left-wing activism and hostility at the university. so here he is, this is scottsdale real estate investor tom lewis. he was set to make a $400,000
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donation this year where he funded the t.w. lewis center, a program in his name at the school. but he has decided to withdraw that donation as well as all future support, and here's why. his decision comes after faculty members at as u-conn demed one of his staff members for organizing an event at the school hosting charlie kirsch and dennis praying. charlie kirk. they were referred to as, quote, purveyors of hate. even though the event took place, lewis' staff member was later terminated by asu leading lewis to say he's had enough. >> the university is just intolerable of the voice from the right, and we learned that when you put on this event with d -- event with charlie kirk and dennis prager, it just drove them crazy. number one, they don't want
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donors to meddle with the classroom, and they don't want conservative speakers to speak on campus. >> reporter: and in a statement to fox news, arizona state says the university has a history of allowing free speech and that the media reports about the firing of lewis' staff member have been one-sided and inaccurate. writing in part, quote: mr. from lewis decided to discontinue funding that paid for more than $300,000 per year in salary and benefits costs for the executive director of the now-dissolved center. but the speaker series and classes that were created at the center will continues at asu, and the faculty who delivered that content through the center will continue to do so. in the meantime, lewis and arizona state have now removed their association with each other off of both of their respective web sites. we'll send it back to you. stuart: bill melugin, thank you very much, indeed. white men experience the biggest cognitive decline after retirement. [laughter] ashley, is this a trick to get me to work til i'm 100?
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[laughter] ashley: at least 100. yes, cognitive decline for white men was almost three times more acute hand their black peers and twice as -- than their black peers and twice as large, by the way, for men as for women. all according to a study published in the journal of the american geriatric society. immediately after retirement white adults tended to experience a significant worsening of cognitive function whereas for black retirees the decline was minimal. researchers say perhaps one explanation could be that black americans have better access to better established social support networks and cultural practices that favor community cohesiveness. another finding, higher income men, especially white men, also experience cognitive declines immediately before retirement. [laughter] suggesting some people undergo a mental retirement or disengagement from work before they physically retire. mr. stuart varney -- [laughter] stuart: that's kind of a loaded
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last paragraph, wasn't it? ashley: if you're being polite, yes. stuart: thanks, ash. it's that time. here are the dow 30 stocks and see a sense of the market. okay, there's about two-thirds are up, one-third down, and the dow is up 258 points. 35,300. china wants to monopolize critical minerals and become the world's next superpower. the governor of oklahoma says the u.s. can stop that. governor kevin estimate9 joins me to make his case right after this. ♪ once you dig in, you'll find out you're coming out the other side ♪ you should get a second opinion from innovation refunds at no upfront cost. sometimes you need a second opinion. [coughs] good to go. yeah, i think i'll get a second opinion.
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stuart: check out this headline. a mineral strategy for american security. the u.s. can counter china ease mineral dominance but only if we get moving. the governor of oklahoma, kevin stitt9, wrote that, and the governor joins me now. china's trying to no to knoppize critical minerals. does oklahoma that seize -- have these min -- mineral op your territory, so to speak? >> we do, but we need to have an
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honest conversation about a strategic stockpile like we do with oil reserves from the '70s. this supply chain is so important to our national security. i mean, these minerals and magnets that go into our jet fighters, our submarines, they go into cell phones and wind turbines. and when china has the monopoly on it and about 75% of the supply chain, we need to wake up, and we need to do permitting reform, and we need to get a push to get those mineralss done here in the u.s. stuart: absolutely agreed, but the environmentalists are going to come after you. they don't like any mining of any kind. can you -- they're powerful folks. they will sue up the wazoo to stop you doing anything. >> well, there's a move right now by governors across the country on both sides of the aisle to do permitting reform. and i believe we need to have an honest conversation about permitting reform and what federal agencies are getting involved, how do we limit the lawsuits, the frivolous are lawsuits. you know, these projects are
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taking six years longer than they take in they a that or even europe because of kind of the environmentalist extremists trying to stop anything that is, makes sense for the american people. and is so let's have an honest conversation about that. and i'm trying to lead and be a voice that says, guys, let's sit down at the table. we can do it. we can be energy independent, and we can focus on these minerals. and even if you believe we need to get more electric vehicles, for example, you need these minerals to get the battery development going. so they're not having honest conversations about what our economy looks like and what we need to be a safe and secure country. stuart: i believe that you were the first governor to endorse ron desantis for president. why desantis, and how do you feel about it now? >> oh, i'm still 100% behind governor desantis. he's a good friend of mine. i watched him lead during covid are. he doesn't back down, the right
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guy. he thinks like we do on national security issues. he thinks like we do on energy policy and all of the above approach. and, you know, i just believe that he's the right guy to take, to win the white house back and to be there for eight years. and so, yeah, i mean, or i'm -- the way i see it is when i think he's the right guy, i'm going to get out in front. i want to kind of support him and encourage everybody to get behind ron desantis. stuart: is it true that oklahoma is the most republican state in the nation? >> you know, i don't know about that. [laughter] we've got a lot of common sense in oklahoma. [laughter] we've got 4 million people. we're the 28th largest state, population wise, 19th largest state the land wise. but, yeah, i mean, we believe in traditional family values, we believe in freedoms, we believe in personal responsibilities. we believe in an all of the above energy approach. we love oil and gas in oklahoma. and at the same time, we're
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number two in the country in wind energy. so we've got so many great things going in oklahoma. we have -- we're the first ever mineral to magnet manufacturing in the western hemisphere. stuart: i regret to say -- >> which is so important for our national security. stuart: i hate to interrupt a fine commercial for the great state of oklahoma, but i have to because i'm out of time. governor, thanks for joining us, sir. appreciate it, always. >> thank you. stuart: 11:55. the thursday trivia question. the first photo on instagram was a picture of what? a sunrise, a dog, a flower or food? how on earth are we expected to know that? is well, the answer will be laid upon you with after this. ♪ doors lead us to places we've never been. your dedicated fidelity advisor can help you open those doors. they can help you create a retirement-income plan designed to balance growth and guaranteed income.
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and provide access to specialists .. for future generations so you're not just growing and protecting your wealth. you're sharing it. because doors were meant to be opened. great job, everybody! (lighthearted music) - "best thing i've ever done." that's what freddie told me. - a person like me needed to get a reverse mortgage to change my life. it was the best thing i've ever done. - really? - yes, without doubt! - [tom selleck] joanne said just about the same thing. - it absolutely is the best thing i ever did. - jack put it a different way. to him, it was about having his grandkids over. - you want to have the kids over, you want to have the grandkids over. - yeah. - you want to have the family over. you want to say, "this is my place." - great people, different people. that's for sure. and all of them had different reasons for getting a reverse mortgage. but you know what? they all felt the same about two things. they all loved their home,
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a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. stuart: looking at fox square. today is ashley's birthday. happy birthday. the first photo and instagram is a photo of what? what is it? ashley: flower. stuart: i will say dog. the correct answer is a dog. time is up. coast-to-coast starts now.
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