♪ ♪. stuart: alright now. good morning it's 10:00 o'clock eastern, let's get straight to the money, the dow is up 130, the gnostics turned south down 15 points, the ten year treasury is moving lower. the price of oil is moving a piece of the oil stocks almost at $70 a barrel i think is a three month high in bitcoin struggling to maintain $29000 per coin it is down to 29180 as we speak. right from the start of the hunter biden laptop story, he has denied any involvement with the sun's business dealings watcher government respond to

peter doocy's. >> comedy times have you ever spoken to your son about his overseas business dealing? >> i've never spoken to my son about overseas business dea dealings. >> have you spoken to your son? >> i am confident. >> do you still think the stories about your son hunter? >> yes, yes, yes, god love you man, your one horse party. >> denial and an insult to, fair enough, look at this. another blockbuster story from new york post miranda devine, hunter reportedly put his then vice president father on speakerphone two dozen times to talk to his business associates, the man making that charges devon archer.

were hearing reports you scheduled to testify to the house oversight committee this week. a lot more detail in the post article but let's not be confused by who said what to whom and when. for clarity i have zeroed in on one item because it exposes the lack of truth in the present statements. he said he did not know about it and he had not talked about it. devon archer's testimony if that happens could put the denials in a whole new light, this is not going away, second hour of "varney" just getting started. ♪. stuart: guy benson it really looks like they're closing in on the president and his connection to hunter's business. >> i think you are right to focusing on the very first clip that you played the flashback from the campaign where our

colleague asked a simple question and peter doocy said how many times have you spoken to your son about the international business dealings and the answer from candidate joe biden was never he has reiterated that multiple times, later in the same exchange he scolded peter to ask the right questions a mini viral moment he was slapping donna fox reporter but it was the right question as it turned out and joe biden answered it and it appears dishonestly. we have not just the potential testimony that you reference coming up later this week we have the on the record of tony bobulinski another individual who worked with the biden family and he says absolutely joe was aware and part of it in multiple reports that joe biden would show up occasionally to the meetings in person including with chinese nationals hunter was doing business with. i am sitting here wondering what will it take, will it ever happen that people beyond a

center-right universe insert media outlet what will it take for everyone else in the press to finally pay attention to the story and start to ask the same quote unquote wrong questions according to joe biden. usually when a politician especially a powerful one makes a comprehensive categorical assertion or denial about something and it turns out that denial was wrong or false or misleading, the smoke in the air they start to smell fire and get rolling and there is a pile on and there's a race to get to the truth and there's been nothing like that this far and for political and partisan reasons. the more we learn about this the more questions arise and the more it look worse for the biden's. stuart: speaker pelosi calls the whistleblower testimony a clown show. watch this. rowley. >> what a ridiculous clown show and respect for whistleblowers.

the fact is from the basis of the hearing they did not even have a fair shot and what they said in light of the clown show. i'm not confident what the whistleblower said. stuart: i watch the whistleblowers, i watched it, six hours there is no way that was a clown show, what was that? >> is she referring to the behavior of the members of her party because she might have a point if that's the case. if they were doing everything in their power to avoid the actual issues, bring it up donald tr trump, grandstanding one comparison trying to make it seem like the whistleblower was the billing, there was a lot of smoke on her side, there was preposterous political behavior from the republican side of the aisle that happens during multi hour hearings people had their little moment in the sun but for the most part what mattered was opening statement of those two

career officials, one of whom is a democrat saying what they witnessed and what they personally experienced having doors slammed in their face by higher ups when they tried to ask certain questions about the biden family that was sworn testimony under oath, some of the specific answers to specific questions were extremely important into wave hand like the whole thing was a clown s show, i think it is pelosi trying to work the best, the people already on her side a lot of the journalist you might be tempted, she shined to telegraph them, don't do it the clown show we are not covering this, i think that's what she is trying to do people should watch the hearing for themselves and listen to hearings to be there extremely cannibal. stuart: i think they're getting close, guy benson i know will see you again soon. democrat senator joe manchin once again making the case for a centrist candidate in 2024, what to say now, folks with common sense are politically homeless.

the political party has become so extreme going to the extreme left and right that the average common sense person doesn't have a hone. they have been left politically homeless, the country was not designed to be this divided, the people in new york are not divided in west virginia as a political party in washington with their business model if they get better returns in their business is much better when you're fighting. there is truth to that the remaining question does he mount a third-party bid or run for the senate again or neither, we have six months he does not have to file his reelection paperwork for west virginia to be the democratic senator until jan january. i think we have six month before we find out he's running for president for testing the waters. stuart: we will hear a lot more. there is truth to what he said. let's get on to elon musk there has to be a story about elon musk everything will day he is

rebranded twitter to ask, he's doing away with the famous bird logo, ray wang joins us, you are the man to explain this why is he going with x? >> he likes asked, he loves ask he on the x.com in 2017 which he bought from paypal and he launched a model x, spacex he is a kid that starts with an x, the reality is trying to rebrand x.com and a.i. into something else is about the super app twitter is providing the data and the a.i. capability in the long run to create the models for the super app in virgo to see more than just twitter in the future it's going to be one part of the x.com empire. big tech earnings i want to focus in on microsoft and alphabet because i want to know if artificial intelligence will feature in their report this week. will microsoft and alphabet be able to say a.i. helped us?

>> i think they're going to talk it up, their neck would miss the opportunity to hype this, ad revenues have stabilized on the alphabet side. the cloud is still the growth, the attack that microsoft made on google and a.i. has now been resolved and we seen a lot of catch-up in microsoft is surprised that google caught up this quickly and is gaining traction in trust versus microsoft at the moment. microsoft is talking up a.i. damo 30-dollar plan for a copilot and they could see additional revenue and focused on battling for fronts, surge against google, abs again salesforce, platform which is going up against amazon and of course they need to build gp, you might hear a little bit about the building that, microsoft 365 copilot adoption will be the talk of the town and of course are pushing hard on the a.i. front. stuart: do you think microsoft will be the standout performer of all the big tech stocks. i ask not just because i was

thin sliver of the stock but because that's a lot of people telling me microsoft is a standout, what do you think? >> microsoft has done a lot of cost-cutting and amy has done a good job managing the cost in the basis so the short answer is yes but i think we should watch medicare fully to see the year of efficiency exponential efficiency and how well it is doing. i think you be surprised with meta airlines earnings as well. thank you very much indeed all good stuff. look at the movers will start with chevron, that is because oil is going up. >> oil is at a three month high, chevron reported records in the premium base and now they're waving the mandatory retirement age for their ceos so michael wirth can stay on longer. can you imagine you can't be older than 65 to run a oil company. i think that is crazy. i'm so glad that the board way back. 65 that is baby years.

put amc on the screen please, coming off of a box office weekend too big movers strata. >> stock conversion plan to shares was halted. the barbie opening was. domino pizza, this is interesting the numbers weren't fantastic, profit was better than expected in revenue had fallen, scratch my head when the stock was up substantially earlier, why is it up. basically said because their profits rose even though there was a lot of negatives to the report i think investors are questioning with the report card

and the price hikes in the average price hikes was 3.9% in the quarter, things are more expensive. >> pizza was a great pandemic food, we gotta have pizza. >> is the best food all year round. >> speaking of pizza let's talk about new jersey, new jersey's first offshore wind farm just giving federal approval, experts warn the wind turbines can interfere with our military, madison always brings us a story, the u.s. and 13 other countries are massive joint military drills and australia by the way, that was australia, this is aimed at china they're trying to deter beijing from invading taiwan will that work, we are on it. president zelenskyy plane for the slow pace of the ukrainian counteroffensive on his allies, he says it took too long to get critical weapons and training. is biden slow walking to ukrainian offensive. james carafano is next. ♪

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stuart: the administration's wind turbines are creating problems for the military. madison alworth in a naval base in new jersey. what is the issue? >> you can see a ship behind me and omissions depot is to be loaded up with ammunition for the navy and goes out to see. the concern all along new jersey and new york and the east coast there are thousands of offshore wind turbines that will go up. when they go up a real concern that sonar and radar will be interrupted and essentially will be blind. i want to bring in christmas because he knows a lot about this. you said the bill that passed the house of representatives on thursday dealing with this exact

issue. what is in the bill and why did you push for it to be passed. >> i'm glad the house approved it requires the president of the united states to certified no degrading, weakening, interference with radar, sonar is also extremely important so that we are not blinded when it comes to potential adversaries of launching against us. the chinese communist party could not wish for more than have us bite into the incoming threats potentially and taiwan, sweden and finland has put a halt to the ocean wind because there blinded and the land when because her being blinded from what the russians might be doing or beijing might be doing vis-à-vis taiwan. it's a huge problem we have one study after another the said there will be interference and overwhelming and you will see things on your screen that are not there in false imaging and shadowing in some cases.

from a military point of view in a navigational and all the jets that fly here in jfk nearby new york international. all of them are put at risk in terms of radar we rely on the study show it'll be compromised, this requires. 3400 ocean turbines off of arcos, 3400 the size of the that they're building they are huge anything in finland or these other places. >> thank you so much, we did reach out to the department of defense to get there, they have a clearinghouse that approves the different locations. essentially saying the department of defense supports administration offshore efforts because they continue on most recently announced on thursday the same day that representative smith's bill passed we heard there would be an official cell of land, offshore wind of land

in the gulf of mexico also primed for the expansion of this period were at the cusp of this evolution green pushing the offshore wind and individuals like representative smith pointing out we need to be critical of what this could do to our national security. stuart: we will take it, thank you very much indeed. ukraine's president zelenskyy blaming a lack of munitions for the delay counteroffensive. rotate. >> plans to start in spring but we didn't because frankly in our nations and not enough in these weapons in the trading omissions outside of ukraine and we started in this is important. james carafano, is biden administration deliberately slow walking ukraine's counteroffensive was.

>> you really hit on one of the key challenges of biden's him. biden himself as a leader is very risk-averse, on the other hand is very politically aggressive. he was a guy that was afraid to go after osama bin laden. it is true that the u.s., not just the u.s. but prompted by the germans and others had a fear if we give the ukrainians munitions this might escalate the war with the russians in the reality the russians are good to do with the russians have done we give them all kinds of weapons and nothing causes escalations. there was a false fear in them the other hand politically aggressive he's offered tons of money and he's burnt goodwill with republicans by forcing his bipartisan issue so you can have money for ukraine but all kinds of stuff to run up the debt. this is typical biden. i will say there are some areas where it was right to hold back, f-16s is one is not a good environment for f-16s it takes a lot to put them in theater, saying this is going to be a

game changer, the u.s. is right to slow walk that. on the other hand dpi cm we have tons of anti-game changer and we could've given them day one but we didn't because a politico to argument that this is humanitarian which it isn't but the left says it is so biden was reluctant to give them munitions because they didn't want criticism from the left. >> it looks a heading for stalemate is in america's interest to have a stalemate. >> and cinemark's interest that there will be a free and stable ukraine, the reason for that that stops russia further meddling and destabilizing the western europe which is good for us and blocks china which once a week and disorganized europe, how that finally looks on the battlefield is less then a strategic interest, a guy that is watched a lot of wars i think it is still too early to say what is going to happen with the ms. hillary capability that ukraine has built up and where

it's going to end. if you look right now, it does look like ukrainians don't have the combat power to take back significant amount of territory. that may change but it also may not change. stuart: got it, our allies i'm sure you saw this, huge joint military exercises in australia over the beacon. i think it's like 13 other countries with us and a big military commitment in australia. what kind of message others sending to china with that? >> isaac is important is the problem of biden's him, he really doesn't want a confrontation with china. but he wants to be tough on china and what's happening in asia we have allies lining up to be tougher. in their own interest they don't want to be a suburb of beijing, the south koreans, taiwanese, indians, philippines, australia are all saying we are in this with you in this really, really strengthen and it does improve our balance but again this ties

with the other problem, we cannot defeat china if we are running our own economy into the ground with a massive debt. you have good and bad with biden in every bite. stuart: presidential candidate nikki haley was on the show a few minute to go. listen to what she had to say that the threat faces from china. roll it. >> china is our number one national security threat. first of all no more allowing them to buy u.s. oil and get outlook what we've already taken the military installation. it is a threat. no more putting money into universities, we tell the universities every take chinese money or american money but the days of taking both her over and we get the infiltration out number passing fentanyl across the board, they know exactly what they're doing when they send it. we need to make sure we deal with the cartels and deal with china. stuart: that's a long laundry list. can you do all of those things and stop china from doing all of

those things. >> i do policy not politics. any national leader doesn't recognize that china's number one threat to the united states is wrong and this is a problem with the biden policy and the politics of this. they're trying to hide china in the corner until after the election so they want to pretend they can manages the reality you cannot, that more we did report on heritage and came up with a hundred of things that we have to do to push back on china you cannot manage china you have to take the initiative and put them in their place. anybody this is anything other than that that is not the national leadership. stuart: james carafano, thank you for being here i know we will see you soon. ups workers poised for the biggest strike and years in america. it would hurt the economy and i don't think it would help president biden. we are on that. the biden demonstration cracking down on another household appliance, water heaters, why can't they leave us alone.

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stuart: one hour into the trading session. i see green for the dow industrial up 160 points, well above 35300. the nasdaq showing a gain of 40 as we speak. lauren has the movers and all start with american express. >> dow down more than 1%, piper sandler says that increasingly concerned that american express will have difficulty hitting the revenue growth of 10% because despite record spending the consumer might be pulling back on how much they spend they cut the company to underweight and cut it down to 149. stuart: nikola and electric truck maker. >> two dollars and change stock down 6%. an electric truck one fire and nikola truck in the same truck went on fire again. we don't know why and that is

unsettling in wall street. >> yes it would. >> gap. they own athletic there leisure brand has a new ceo his name is chris blakely he comes from a low and a leisure brand that is very popular. lots of competition. they're trying to right the ship up 4% with the new entrance you dropped 11% in the last quarter. stuart: asked leisure stuff is something i never buy. >> men are increasingly buying leisure. if you pay attention to the work pants there a form of yoga pants, you cannot tell. >> i don't expect to see all guys flaunted around in that. >> you would be surprised. stuart: a new fox business poll reveals republicans in the early primary states, come on in grady trimble what is number one for

republicans. >> it is the economy look at the new fox business polling gop caucus goers and iowa economic issues talk their list of important issues way ahead of immigration, social and foreign policy. in south carolina even more republican primary voters more than half say the economy is their number one issue. former president trump has a sizable lead in both states but even candidates pulling in the single digits say there's reason to be optimistic. >> i began in march at 0.0% in the polls look at the national polling average consistently pulling third nationally. and that is ahead of the first debate when many people in this country have not gotten to know who i am. i'm nationally pulling ahead of a former vice president and numerous governors and u.s. senators.

>> are polling shows the economy is top of mind for republican primary voters in caucus goers. but president biden also clearly sees as a top issue in 2024 as he continues about bidenomics. >> we have a long way to go in the economy. i'm here to say we have more work to do. we have a plan that is turning things around pretty quickly. bidenomics is another way of saying restore the american dream. >> the academy under president biden has been largely characterized by inflation even as prices fall, real wages has also fallen about 3% since president biden took office. stuart: that is accurate. thank you very much. president biden is facing multiple worker strikes the summer and it could threaten the economy. nearly 340,000 ups workers ready to strike if they don't reach a deal by august the first. joe griffith the economic research fellow.

is this going to be the summer of strikes? >> it quite possibly could, with union workers there facing the same problem sometimes more severely than nonunionized and that is a broad pay cut that we seen over the past two years. even families with a couple working in union jobs they've seen the real wages decline around $5000 per year in the past year. even if they secure wage hikes there chasing inflation it unless we returned to an economy where all of us can be more productive with our work hours were good to continue falling behind in that's why a so-called win for the union won't be a win for the workers. stuart: are the unions embolden because president biden is the most pro union president we have ever had, does that embolden

them and give them leverage? >> he claims to be the most pro union president that's ever existed. if you look back a few months ago when we had the railway strike president biden did his best to step in and in district before the unions actually were ready to agree to do so. a lot of the union workers are finding that the biden demonstration green energy policies are harming their manufacturing jobs. were making our manufacturing sector less competitive with the globe and that's because industrial electricity is an essential ingredient to producing manufactured goods and we continue to limit the supply of affordable fuels it does not just impact us as consumers with air-conditioning and vehicles and actually impacts factories in a think union workers are catching on. stuart: the administration is targeting another home appliance and cracking down on water heaters is all about growing green.

my question why can't they leave us alone. >> it is incredible. we've seen 110 regulations put forward on more than 100 different household appliances over the last two years, the water heater situation is the latest example we saw dishwashers impacted a year ago shrinking the amount of water you can use on each cycle but were seeing this with air-conditioners and vehicles as well. was really interesting with all of this, you see manufacturers that are applauding the new regulations on water heaters. that's because it'll cost a lot more as consumers to buy the newfangled items. of course ensuring this on the consumers being harmed, not just the cost for the convenience factor. you might save a dollar or two on your electricity bill but you pay more for the appliance it it'll be less efficient in terms of convenience.

stuart: what they cannot do is tell me how much i have to pay for electricity in the future. get rid of fossil fuels but i'm getting use electricity and you cannot tell me how much it's going to cost. >> right now they cannot limit your use as long as you're willing to pay for but if you look at the western states and people in colorado there allowing the thermostat if you choose to be turned down automatically by the utility producers i think that's the first step in applying this nationwide where you might be willing to pay for the extra cost to cool your home but if the bureaucrats decide you're going to impact the environment to a big extent they're going to klemp down that for you. stuart: klemp down on the rich electricity users and abusers. you're alright thank you for stepping in on a short notice we appreciate you being on the shelves. >> if you hope to travel flight, will let up the summer, don't hold up your breath the ceo of

climate change says it's going to take a toll on air travel. we have details, the white house is making it more expensive to drill for oil on publicly and, edward lawrence breaks it down next. ♪

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stuart: on the markets the dow is up 150, modest gain for the s&p, modest gain for the nasdaq, a dow is a standout at this moment, the rising demand for oil will ask our guess is there a demand in the rising price of oil. >> demand is going up because we don't have enough supply there predicted a deficit of almost

2 million barrels a day right now in the third quarter and these are the strains on supply, the recount is that a 16 month low 530 in saudi production cut they see it being $86 by the end of the year the wti around 80. stuart: if you declare a war on fossil fuel as joe biden did you can expect to produce less and that's what happened. the white house just laid out new regulations and fees for oil and gas companies. this is about going green, edward lawrence at the white house take us through the new regulations. >> the administration pictures this is modernization of the oil and natural gas on federal land in actuality what it does roadblocks and discourages investment to the american petroleum institute. in the statement the api tells us this, the action from the department interior is another

attempt to add more barriers to future energy production oil and natural gas investment the new rule to be finalized to increase the amount of the statewide minimum bond needed for 4900% from $10000 to $500,000 is dears drooling away from open lands and tries to consolidated your highways and railways in the rule increases by increments rental rates by 67% after two years and from that increases the rate after another six years by 200% and current maximum fees for royalty rates, rental rates in the minimums makes the minimums after ten years the administration says this adds fairness the white house economic advisors mentioned spending and failed regulations. >> with bidenomics in action playing out 35000 investments

and 45000 are starting to see results. what is talking about picking winners and losers with government money ask anyone in the oil and natural gas industry and the department of interior is taking public comment on the proposed rule changes until october and then they finalize it. you hear the street sweeper coming behind me, back to you. there goes, there is, thank you very much indeed. the ceo of united airlines wording travelers about even more flight delays. now what. >> climate change, climate change is responsible for cancellations and more cancellations. i think irregular operation events are going to be more likely to occur as the climate warms more heated atmosphere et cetera and more thunderstorms, that is the thing that has been

a lot of thunderstorms around the new york area and he's blaming them for all of the cancellations that united and also blaming them for the turbulence in the air, every airline deals with whether, climate change, thunderstorms and why was united the slowest to bounce back, what is the excuse there is that your scheduling and you don't have enough slack in the system when something goes wrong to put customers on another flight. stuart: i know they give their pilots a 40% pay increase over a full year. which is a huge gain, thank you. jason aldean speaks out for the first time following backlash over his controversial anti-crime song. watch this. >> i feel like everybody's entitled to their opinion. you can think something all you want to, does not mean it's true. what i am is a proud american. i love my country, my family and

i'll do anything to protect t that. stuart: that is a good question is cancel culture and retreat joe concha deals with the next hour we told you the boston globe writer suggested doctors were body cameras to crack down on rhesus physicians. doctor marc siegel says that would ruin healthcare. doctor siegel is next. ♪

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stuart: the dow jones industrial average up 177 points this monday morning. 175 and nasdaq 17 higher, s&p up 16 points, look at this headline forcing doctors to where body cam's is a great way to worsen healthcare. guess who wrote that doctor marc siegel road and he's here with me now. why would body cam's on doctors with patients make healthcare worse. >> you know why the doctor-patient relationship is

sacrosanct in being based on revealing things to your doctor that you might not want recorded in your doctor cannot be underscore new like big brother who's going to decide this, the lawyers will the lawyers will zoom in and look at the recordings and scrutinize them and nobody will admit anything to me anymore. their impetus behind this idea came from a boston globe op-ed with the doctor said if the racist what if doctors are racist but meanwhile in the national health service they found that it was patients that were assaulting verbally assaulting doctors may want body cam's to protect doctors and i want them to protect no one we were trained in medical school in bellevue hospital i was trained to treat everybody the same and are there people that step out from that and how bias of course there are we cannot police them. we are in a police state it's absolutely preposterous i don't think body cam's work on police

they definitely don't work on doctors. >> that is for sure. i want to deal with israel fast there is a dangerous trend on tiktok people are consuming bull ranks a laundry detergent and a pesticide that helps ease inflation. it's a terrible idea. >> you and i remember borax from we were kids i thought it was a laundry detergent are you kidding me it's boric acid eight east away at your stomach lining and causes green vomiting and diarrhea and anemia and seizures really bad idea and it shows how unreliable tiktok is tiktok is not policing this this is where you need policing these da vides are dangerous is not the only time that tiktok had this issue with health information. very disturbing. stuart: let's go to something more serious for most people in new study suggest the intermittent fasting can

actually raise your risk of getting diabetes. i do that and i go for 12 hours most days without eating anything and intermittently fast to have a problem? >> as someone who tends to advise you i would say in the morning you should maybe have a little cup of coffee and a scone or something because i believe the study is right they look at 100,000 people in france and spain and i think the reason for this the insulin glucose access, you don't want to be jumpstarting your body all the time you want a steady reaction you get up in the morning and if you carves the insulin kicks and that's with the body is supposed to work, if you don't do that you may screw around with the pancreas, i'm prescribing a cup of coffee in a tiny scone for you in the morning. stuart: why did you pick a scone what does it have to do with me. >> nothing personal about that i think it's my own taste i think

croissants have too few carbs we can debate what it is you can have a cracker if you want but something. >> what i do i don't eat anything after 4:00 o'clock in the afternoon and then i started to eat a little something up 4:00 o'clock in the morning the next day. i think i'm okay with that surely. >> that i agree with you know what happens the body is supposed to decrease its saliva and everything for digestion late in the day. i think people need to know that stuart varney is late at night. i'm in bed by six but that's another story, thank you very much indeed. look what we have for you, still ahead florida congressman mike waltz on new polling showing trump's commanding lead in early primary states. he has a big lead, house ways and means committee chair jason smith on a new report that joe biden knew about hunter's

business dealings and steve forbes how it would hurt president biden. the 11:00 o'clock hour is next. good luck. td ameritrade, this is anna. hi anna, this position is all over the place, help! hey professor, subscriptions are down but that's only an estimated 15% of their valuation. do you think the market is overreacting? how'd you know that? the company profile tool, in thinkorswim®. yes, i love you!! please ignore that. td ameritrade. award-winning customer service that has your back.

>> devin archer was hunter biden's closest business partner and friend. if anyone knows what was going on in thosfo