tv Cavuto Coast to Coast FOX Business July 21, 2023 12:00pm-1:00pm EDT
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stuart: what is the most common first name of us presidents? john, james, william, george. ashley: james. number 2. stuart: duffy. >> john. stuart: i'm with james on this one. the answer is james. six us presidents, james madison, james monroe, paul, buchanan, garfield, jimmy carter. time is up from the and everybody. coast-to-coast starts now. julie: read it and run. another gain of the dow today,
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ten straight advances of the most iconic stock market average, something we 've not seen since the start of the trump administration. four hours in the trading day, let's see what happens. the rally is something that call artificial for real reasons, the market is doing what it is doing, i'm talking artificial intelligence striking hollywood actors and writers, studios reluctant to share revenues from it and the white house this day concerned what to do about it. welcome, glad to have you, edward lawrence at the white house. ai, something like that, to you, my friend. >> just two that is, ai. developers have agreed to self regulate, the 7 largest companies to invest in artificial intelligence are meeting in 90 minutes with president biden. we should see that in 90 minutes.
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talk about companies like amazon, google, inflection, matter which on facebook, microsoft and open ai, technology is moving at light speed and popping up across all aspects of life like 2 space, can't put it back in the tuba. in the tube. the industry agreed to self regulate but with nothing behind the agreement, the understanding that the government role rollout guidelines later. >> we are working on government action here to manage the risks posed by this technology and i suggest this is not anything like the end of the road but a step in the right direction of getting us where we need to go with this technology. >> reporter: the seven companies agreed to add watermarks on anything generated by artificial intelligence, they would identify which product made video or audio so consumers would not be full, they agreed to external testing by expert
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in specific fields where ai is being used but results made public increasing investments in cybersecurity and prioritizing research on risks to society by ai related to bias and discover nation. on the government guidelines there is no timetable from the biden administration for those guidelines to be released but we are told it is a top priority. neil: to whom was kamala speaking, to define artificial intelligence, two words and all that stuff? >> around table talking about artificial intelligence and she was talking to those folks in the remand to the american people to describe what artificial intelligence was. neil: that's two words, edward lawrence. gary kaltbaub talking about artificial intelligence, great to have you.
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much of the rally we've seen in tech stocks, a new lease on life with anyone with an ai plan, that's dissipating a little bit now. tech the last couple days having a tougher time following the dow. that might change. it is way behind the advances. >> two dates, may 25th was in video day, that workup the ai and anything having to do with it, june 2nd was the next day when the broad market that was lagging so badly, work out of its coma and gets better by the day. the down now, you have things like procter & gamble, johnson & johnson, a big one, we are getting more broad-based areas coming on. we 've seen airlines and cruise lines go vertical, industrials,
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you name it. it's in the works right now, i will say this. if there's an area that is due to 5% or 10% correction it is the technology area, it has been overleveraged and usually you get some pool backs but trend is up. i don't think the trend gets broken in a big way anytime soon. julie: always remind me the market can climb the wall of worry but what is interesting in the latest rally that has been going on, buoyed by banks that were not nearly looking as disastrous as some feared and a good number of regional banks going on that is discernible, is that crisis which riveted us behind us? >> it to become, jpmorgan did
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the yearly high and the regional banks, you watch them with the kr e, it has bottomed and is coming up now trying to win back the losses, some really big losses. that is some added fuel. when the market gains confidence the financials is over the market is in good stead. that's part of the equation, we saw some good reactions like schwab, everyone worried about schwab, their numbers were good and stock reacted well. we are in good stead. surprisingly slow with the fed raising rates but welcome to the market, that tries to confound all. stuart: the fed might stamp that out. what do you think? >> the market knows there's another rate hike, may be a
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second after that, and the importance of the 10 year yield around 3738 range. and if we see real rates, the markets head into the course, there can be some head wents, not worried about the fed at this juncture unless we start hearing 7%. stuart: and the case of earnings, the companies the reported right now. at this point, 80% exceeding expectations. a lot of them ratchet down expectations in the hope they are nominally better than that. that's where we stand now. and expect to see when all the numbers are in, 5% to 6%
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contraction in overhaul of earnings year-over-year so we will see that sort out. political news, donald trump as things stand will stand trial in may of 2,024. this is concerning classified documents and why he kept so many of those at his home in mar-a-lago. 's lawyers are trying to push that back but this is done little to dent his popularity. each and every new revelation including talk of a potential third indictment hearing in the words of donald trump he remains at least politically untouched by all this. and gop pollster who keeps a close look at these developments, what do you think happens when we get confirmation of 1/3 series of
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potential indictments concerning his role on january 6th and another one got -- his role in the recounting georgia. a lot of these. so far not a one landed on him politically. >> it is opposite day when it comes to donald trump. things would apply to everybody else don't apply to him. after the first indictment his polls increased by 18%. there is a sense of enthusiasm around supporting donald trump because for many people it feels like a witch hunt, it feels unfair. look at the way president biden and hunter biden are being treated they feel there's a double standard and so a lot of folks are increasing support and doubling down on donald trump less because they are supporting him and more as a way of saying we are tired of a system that's not working for us. look underneath this, the polling, 70% of americans feel the system is rigged to benefit an elite ruling class.
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even though donald trump is rich and powerful they don't view him as part of the elite ruling class and they want someone who will shake that up and fight for us. in many ways the more this happens the more people see it as politically motivated the more support donald trump gets. that is on the republican side of the aisle. on the left, democrats are looking at this and saying how is this happening? he is evil, a threat to democracy, republicans are nuts and it is fueling the fire. neil: say what you will about president biden's problems, latest polls look good for him. he is comfortably in a couple of them. that could change and against the republican field, donald trump is looking pretty good, that could change. could be a set up like we had in 2020. i am wondering, given the bubbling interest you are seeing within each party for alternatives and americans in
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general open to the notion of a third-party candidate, we always had these flirtations, everyone gets jazzed about this could be the election, could it? >> i don't think this will be the election we see a third-party candidate when. what i think could happen is we could see a third-party candidate really disrupt what we are expecting to happen. think about 2,016, jill stein captured enough of the vote to have an impact and it benefit donald trump, took away from hillary clinton. we didn't have that dynamic in 2,020. should that introduce now, there's a good chance that it could pool from either side. karl rove, the wall street journal, why it would advantage donald trump if there's a third-party candidate. you could go the other way. if there is a viable moderate pro-choice candidate that is out there, that could really pool from some independent voters that would vote republican otherwise.
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that could pool from donald trump. it's a long way away. we've seen anything and everything that happened. key states that matter it comes to 5 states we talk about all the time. it is close, neck and neck and in that case, donald trump outperforms because there's the sleepy voter afraid to say it out loud or not counted as registered voters or likely voters because they didn't vote last time. neil: i spoke to white house officials including jared bernstein, they are getting giddy about the direction the economy is going. very few people talking about recession, inflation numbers that have come down in the last 12 months, still heidi pentagon what you look at. this improvement we are seeing in the jobs field, they think we have time to right the ship, to get us back to low inflation, potentially 20
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million jobs. by the time of the election. that is what they are pounding. >> i hope they feel relief but that's not in the polls. consumer confidence is increasing in large part because of the rallies we are seeing in the stock market. looking at people's feeling about president biden's handling of the economy and inflation and these issues, they are not necessarily feeling better in large part because in many ways people are spending 14% more today than a few years ago. $0.86 on the dollar they are spending now. they feel that in every single way. even though consumer confidence is better, people are not talking about the recession as much, the middle class is feeling squeezed and that's the number one issue to voters. that said, there's other issues important to voters, not sure that will drive the polls but they are not feeling the benefits of bidenomics. 's campaign to say everything
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is going well might backfire because in some ways, everything is fine, nothing to see here, that makes people feel worse. people want to feel heard and understand inflation is coming down but they are paying a lot more than they were two years ago. neil: thank you very much. all those developments, in the meantime, this is the weekend of the oppenheimer movie and the barbie movie. what would oppenheimer think of a movie on him hinging on the success of barbie. it blows my mind. >> hey, barbie, can i come to your house tonight? >> sure. i don't have anything planned, a giant blowout party with all the barbies. >> it is a matter of life and death. i can perform this miracle. >> world war ii would be over.
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>> barbie, want to go for a ride? jump in. ♪ i'm a barbie girl ♪ in a barbie world ♪ neil: is that supposed to be can? could have been worse. could have been barbie. our staff has a lot of time. kind of look haunting, not that the real image is much better. the barbie movie is coming this weekend, the oppenheimer movie, they playoff of one another, some movie theaters are actually combining, amc is putting them to gather. the oppenheimer folks were first to say anything of that can bring the crowd, bring it out. fox news entertainment reporter, ashley, big
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expectations for both. how do you break it down? >> reporter: big expectation. we really are in a barbie world. that was amazing to see you. big expectations for the two movies together, barbenheimer. it's a lot of movie time. barbie is under two hours. i saw barbie first. it is it is the lighter option. oppenheimer is three hours long which wasn't sure after the 3 hour movie if i wanted to go to another movie but you might want to see oppenheimer. it is so intense and then lighten it up. it's a great movie outing. they are both collectively expected to do huge numbers at the box office, $200 million. barbie was initially projected at 100 million, 110 million but early numbers have previews at $22.3 million. this is going to be a really huge weekend for them both.
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neil: mission impossible was a disappointment, didn't do as well as some hoped. i'm thinking of a lot of box office draws this year some of which were on the disappointing side, not all and wondering if this is a so-so weekend for both films which was would be the implication of that? >> if this weekend, not only do you have the expectations of each movie doing really good numbers individually but because of the whole phenomenon it should do even more. if it doesn't then i would say a lot about people either not wanting to go to the theater or maybe it is which movies are playing but i don't see that happening. i think this is going to be huge. a few more big movies rolling out this summer but this is going to be the biggest weekend that we see. neil: everyone is excited about
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the barbie thing. i would think the late robert oppenheimer would have thought barbie -- my movie's success depends on barbie? i am overthinking it. great seeing you, my friend. >> i was going to say it is going to get some people might say i'm not going to go to the movies and now they will see both together so might just help oppenheimer overall. neil: oppenheimer was a very brooding guy. the barbie of which you speak -- that's the best i can do. my best oppenheimer impression. excellent job, appreciate it. another favorite guest of mine, fox news headlines, you and i were chatting during the break. messy's debut, the us soccer player changed the game.
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>> reporter: lionel messi coming to the states. backhama came over two decades ago. he's playing in miami, it has been a sensation, the social media coverage on this that has driven miami sitting in last place in the standings in major league soccer. probably in the postseason this year but it's deftly going to give them a boost in attendance, boosting revenue. neil: get a lot of florida papers online and page 1 of all those papers, of usa today. >> shopping at publix. but what will this mean as we get ready, the world cup and all these other developments for america having a clear presence in soccer? we've gotten better and better and better. where do you see this going?
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>> for major league soccer, they are fast expanding brand. in the last decade they've grown the number of clubs they have and increase in the number of fans showing up for these matches. in miami they are trying to play at hard rock stadium on miami dolphins, to accommodate the fans seeking to play a match over the next 21/2 years. neil: is he that good? >> he is one of, if not the best player of the last two decades. the fact -- a lot of people expect him to go back to his original club in barcelona. there was talk about him going to a saudi arabian club that was eyeing cristiano renaldo. but here he's taking a chance in miami and reunites with david backhama is part owner of this franchise, the sky is the limit for miami to make the splash, they are relatively new franchise, haven't really had a chance.
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you can see it happening. it's definitely in the cards for one of these guys now that lyons messy has come to play in the states. neil: little dust up before america's premier football player, take a look at this. >> patrick mahomes asks that assurance an acute who asked for an autograph. >> you can make one kid happy out of 100. >> that's all right. going down to 99, 0%. neil: dust up with her dad, disappointed, but only so many autograph someone can sign. here is my thing. >> i've seen this time and time again. neil: i have seen you. >> i've thrown a punch at a
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paparazzi. it comes down to it, these events have a pace they have to run and sometimes handlers, they pulled away last minute. they feel terrible if they can't sign everything. patrick mahomes didn't help himself by saying something, sometimes best to stay quiet and focus when you're playing golf, a recommendation as a guy who has a handicap i will never see in my lifetime over the championship, celebrity event and they will sign autographs the whole time. got to let these guys -- neil: on the 18th hole, trying to get through, is there enough time? >> got to focus on the windmill side. people don't understand. neil: what is going on? >> i could ask about the mets, the yankees are struggling. come on.
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>> the injury play helping things out, the pitching under control but there's very much a tougher division this year, baltimore is very competitive. trying to make you feel better. neil: what's going on in north korea? with the soldier who ran, we heard zilch from him since or for that matter from north koreans as well after this. (vo) while you may not be a pediatric surgeon volunteering your topiary talents at a children's hospital — your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you give back. so you can live your life. that's life well planned.
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since, for that matter the north koreans since. he had some frustrations and crises he was dealing with but his family wants to know what's going on with him, the us government is trying to find out what has happened to him. all of a sudden, that is it. it's been a few days now. general jack keane. i want to get into this segment with this issue with you, because we still don't know. any suspicions on your part? >> i think first of all he was likely running from something as opposed to something. by that i mean he was found guilty of assault and spent a couple months in jail and was heading to fort bliss and we don't know for fact because the military hasn't advised us but likely facing discharge the military with a less than honorable discharge because he committed a felony. that in terms of the embarrassment he would be
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facing with his family, etc. may have put added pressure on the youngster and as i said he was running from that more than running towards the communist state, trying to escape in a sense. i think the primary thing here is to get somebody in touch with him. we don't have direct contact, no diplomatic relations but we normally work through sweden to do that for us. i know the state department is working on that, to get somebody to talk to him to see what his welfare is and see if he's being held against his will which i suspect by now he truly is. neil: no one saw him being apprehended. he just ran up. we assume soldiers seized him, put him in some sort of jail for the time being. no comment out of the government there and i'm
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wondering with the backdrop being ever escalating missile tests and advanced weapons, you have to wonder what is going on. >> certainly. he ran into a building where north korean guards were taking a break and they took him under control. the good news is we've always been able to get our people out of north korea as a result of some negotiations and we've had some success in doing that. north korea is very upset at this time because the us s kentucky, a nuclear ballistic missile submarine is parked in the harbor in southeastern south korea. that event is not occurred in 40 years. the reason for that event is to demonstrate to north korea who keeps waving nuclear weapons in our face, that we are nuclear power and we want to send a
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message loud and clear to them because we want strategic deterrence here and kim jong-un threatening to use nuclear weapons, we want to make sure he never thinks about doing something like that and also, we want to show the south koreans that they truly are under the umbrella of our nuclear protection because in south korea and japan there have been stirrings about wanting to acquire nuclear weapons to protect themselves and we don't want that to happen. neil: i want your take on the russians opting out of the deal with ukraine, now hoping their attacks the will affect ukraine's ability not only to get food but to get food out of the country. what do you make of that? >> russia's motivation, they want back into the swift
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banking system communication, you are familiar with it and it would be very powerful for them and i don't think that's likely that anybody is going to grant them that. they also want some relief from sanctions on their own agriculture industry. a lot of missiles have been fired at port facilities, last night they started to hit the granary and agricultural industry. last time this was broken, when the russians for the out of the deal, the ukrainians did it themselves, loaded up their grain ships and moved them and started to exit their ports and the russians let it happen. i think we should do that again or bring in an international escort of ships, doesn't have to be the united states because everyone is concerned about these grain imports in terms of world prices, and start doing it. i think we can call the russians bluff on this. they know they will be an international pariah when the prices of grain change in the world economy and countries who
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need that food begin to have starvation issues. that would take weeks and months, those countries who are neutral towards russia are likely very frustrated with the impact of this. i don't think this will persist for a long period of time particularly if we are willing to take some action to call his bluff on it. neil: thank you very much. hit you with a lot and you hit it out of the park. meantime we want to get an update for you on the incident you might have seen a few days back where a number of people were stuck on a delta plane in one hundred 11 degree heat, they couldn't get off the plane, now they are investigating what happen. grady trumbull at reagan international airport with more on that. >> reporter: sounded like a hellish experience, one hundred 11 degrees outside the plane, no air conditioning inside and now the department of transportation says it wants to get to the bottom of what happened.
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they've launched an investigation into it. we told you earlier about passengers sitting on that plane for hours and that extreme heat, first responders treated several people who were on board. a flight attendant and passenger even had to be taken to the hospital. >> the reports are shocking and we are investigating. i want to know how it was possible for passengers to be left in triple digit heat on an airplane that long. even at normal temperatures a tarmac delay is not supposed to go that long. we have rules, this is being investigated right now. >> reporter: one of our fox news colleagues was on that flight. he described watching multiple people experience medical emergencies in front of her. >> it is still hot and we are sitting on the plane and you're telling us you have a choice to either sit here and get possibly sick, and watch all this go down or not get to your destination for days.
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>> we did reach out to delta to try to get an updated statement on this newly launched investigation by the department of transportation. we've not heard back, but earlier in the week, they said they apologized for what happened, they rebooked passengers who were on that plane to other flights because the flight was ultimately canceled and also compensated passengers, not sure how much compensation makes up for that type of experience. neil: thank you. said news to share with you, tony bennett has died. he is one of the few iconic singers in american history whose career covered nearly 8 decades. he had a number one song in 1951 that scored the same again in 2021. and all the years in between and since. after this.
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julie: states not seeing as much green, the slowing economy doesn't help but in exodus differently air tax and prime locales has hurt big ones like illinois, new jersey, the latest is new york where the gap is expected to balloon $36 billion, 36 billion more going out than coming in. new york state comptroller joining us. good to see you. so what is driving this and what can be done to fix this?
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>> there are a couple of factors, no doubt the economy is slowing and we are feeling the effects in current year collections of the slowdown as far as financial services, wall street is an important part of the economy in new york state so it is catching up and in terms of our budget planning process, in new york we have a strange calendar of fiscal year starting april 1st. you have tax collection day april 15th, the budget that was put in place frankly was based on more optimistic numbers but the current financial plan, the budget taken down each year for the next few years, $5 billion in revenue and we are slightly ahead of current updated projections which move forward but the weakness for tax collections and some has to do with taxpayer migration that
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you alluded to but much of it is reflective of the slowing economy and capital gains collections as well have been off, that affects higher income new yorkers and that is reliant on personal income tax. neil: the market is picking up steam of late and whatever your views on the market, go baby go, that's revenue that could come in states way if this keeps up and obviously the market collapsed last year, didn't help matters. this could be reversing that. >> i hope so. the other hat that i wear is the state pension fund and we did post a slight negative for the year ending march 31st. so i certainly hope the steam that is picking up that you alluded to continues because we are a well-funded pension plan and don't like to have any
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negatives so that another factor, it impacts the contribution rate for the state. very much tied to the strength of the financial markets. how many folks on your show have been projecting a recession for how many months that hasn't quite happened yet? we hope it doesn't. maybe it will but we are tied to the cycle so right now the cycle has been more difficult and more challenging for us. keep in mind the top one% of taxpayers, those making a million or more, have rough numbers, 30% on personal income tax revenue. there's a lot of sensitivity in terms of upper income taxpayers that we want to stay in new york and get you to pay taxes. neil: don't see that recession was we had guests saying that but nothing in the data i have seen would indicate that. it could happen but i don't see it. >> people are still spending money and people are still
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getting hired so so many conflicting data points, so much uncertainty, overlay the political uncertainty about next year. no surprise people are very concerned where we are headed. neil: i go to my favorite italian restaurant and they are all packed and i try to use my name to get a seat and they say go to the back of the line. it's a long line so something is going on. >> try natalie, that have a more authentic ring. neil: thank you, comptroller for the state of new york, tough job. in the meantime getting the latest read on electric vehicles, the lot is full of them, customers saying we don't want them after this. dad, we got this.
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the company is offering a real incentive pushing customers to go ev by saying you will get one day 3 of your rental if you go electric through labor day. incentivizing those customers to select that electric vehicle. one of the goals is to get people to experience and ev in the rental space the company sang, quote, providing people in ev test drive through hertz is a critical step towards adoption but it is not just for people who are actively interested in testing the tech. with tens of thousands of electric vehicles in north america, hertz needs everyone to drive their electric cars. we rent a lot of cars for this job because i'm always being sent all over the place for this show and my assignments. i experienced this myself last time i went to get a rental, i went to get one, they told me the electric and if i want to gas i would have to pay a premium. my producer also experience in this, she rented a car and chose the cheapest option. as you can see it's as you don't get your choice of car,
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she did wind up with an electric. it added over an hour to her trip because she had to charge it twice on her 6-hour drive. hertz is saying by the end of 2023 there will be 2 million electric rentals this year. 5 times what they did last year. some of those folks signing up for the rentals, others just winding up in it. back to you. neil: thank you. gary, good to have you back. it might be the future but not everyone is into it. what do you think? >> reporter: hertz is giving away free day because the demand is not there. who wants to get an electric vehicle you have to charge when it is so easy to go to a gas station and you are not used to it. just like any company that puts a sale on to move product, that is all hertz is doing. i always wondered how much of the ev -- the business is going gangbusters and i'm wondering how much, what kind of wall it
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hits as we move forward as we are all used to the gas vehicles but i do think it is here to stay. lauren: 1 muss cantos are selling a lot of vehicles but the margins were little squeezed, $13 million on paper. he still the world's richest and. is feast or famine for these guys. it is coming. >> every time i start goes up or down a dollar, to make $412 million. god bless you line. he's done a fabulous job. the issue of this tremendous competition now. you've got rivian with sales growing leaps and bounds but to move product you have prices coming down. the forward that was selling like gangbusters just dropped their price 10,000 so we have no doubt there is a wall being hit to a certain extent.
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the american people around the world, a lot of places are used to the gas vehicle, wonder about charging stations and what they have to do about it. i think this is something getting forced on some and there will be pushback to a certain extent. neil: great having you again, following those latest appellants, we are following the dow. it has to hold onto again at the end of 10 straight days, barely now, 38 points. we are on that after this. conversations or moments that matter, but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. t. rowe price, invest with confidence. this isn't just freight. these aren't just shipments. they're promises. big promises. small promises. cuddly shaped promises. each with a time and a place they've been promised to be. and the people of old dominion never turn away a promise.
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adam: it is the 10th straight day of gains for the dow. a lot of ways we look at the weather, the 18th day for heat alerts issued by the national weather service in south florida. this is the nineteenth day temperatures over one hundred degrees, one hundred 10 degrees in phoenix. what does that mean? nothing at all. i just found it interesting that all these days, the straight run of advances in the dow and advances in temperature all happening at the same time. coincidence, probably. but i thought i would pass that along. jackie: something i always say behind your back you never heard me say is you are walking encyclopedia. we will finish out that 10 day street, have a great weekend. jackie: i'm jackie deangelis.
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