tv Varney Company FOX Business July 25, 2023 10:00am-11:00am EDT
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stuart: what a man. linda lindel. let's go on with it. 10:00 eastern time. to the money please. nice gain for the nasdaq up 84 points, s&p up 6 and the dow a 5 point los. loss. the action this morning mostly in big tech and the nasdaq. show me big tech on the upside. meta, microsoft, up 2.5 to $2.51, apple at 193, alphabet up a little bit too. amazon close to one hundred 30 a share. the 10 year treasury yield is coming up a bit, 3.90% and the price of oil moving up again, $66 a barrel, down a bit at the moment, the level $lxxviii a barrel. the latest read on consumer confidence.
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>> 117 in the month of july. the present situation index, how we feel about current job market, that improved also by 5 points, expectations index short-term outlook for income includes 88. 3. i bring that up because it is about 80. we have 180 since february 2022 and now above it. ashley: it -- stuart: no response on the market. the nasdaq is up 90. everyone is concentrated on big tech. that's a strong report. now this. there are two main challenges to biden's ability to do the job another 6 years, his age and the hunter scandal, they are closing in on him leaving his campaign maroon to. as we been reporting today, we are hearing the word impeachment.
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we may have impeachment fatigue but speaker mccarthy says the level of corruption rises to the level and impeachment inquiry is legit. the evidence may become more compelling after hunter's business partner testifies next week, you may have lost track of who said what to who but when the speaker talks impeachment you know it is serious and then there's this. is biden's age the issue that won't go away. nbc, they are getting into it. they put an unnamed democrat recounting the anxiety that rippled to the party when biden slipped on air force one's stairs, quote, the democratic party needs to be responsive to what people are saying about biden and concerns they have with his age. adding to the uncertainty is his campaign spending, hardly spent anything, just $1.1 million, at the same stage obama's reelection campaign spent 11 million and trump 10.5 million, where's the biden campaign.
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biden has been pressed into a corner by investigators and whistleblowers and pressed by his own party about his age. it looks increasingly unlikely to me that he will be the democrats candidate, highly unlikely that he will be in the white house six years from now. second hour of "varney and company" just getting started. ♪ stuart: charlie hurt joining me at this.. i don't think the democrats want biden to run and they may use his age and possible impeachment as a way to get him out. what say you? >> increasingly i think you are right. the year ago i would have said he was a certainty to be the nominee but with everything coming up it has to do with concerns about his age but also this broadening scandal and
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last week with the tipping point with those irs whistleblowers. despite the media's effort to squelch that, it broke through, starting to break through and they are no longer able to contain it. it's obvious you're looking at a man who spent 50 years in public life, in politics coming in washington as a politician, and clearly used that time to enrich himself and his family. once that tips in that direction, it is hard to put the toothpaste back in the tube and you make the point about where is his campaign. in previous years, the previous election, to get the media working for him but as it starts to shift away and become obvious that he's unfit for office, he will find out not spending on a campaign won't work for him this time.
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stuart: donald trump going after senate republicans. he says they failed to act on president biden's allegations. can the senate really do anything with democrats in the majority? >> that the minor detail. of course they can't do anything at this point except raise tension and they are doing that. chuck grassley has done an enormous service to the country by highlighting these problems but this is vintage donald trump. he's right in that republicans need to go after president biden and do what they can to do what the media refuses to do. but this is vintage donald trump because this is why a lot of people love him so much, he takes an opportunity, in partisan politics, nobody ever goes after its own team and it is what so many americans hate. donald trump never misses an
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opportunity to go after his own team and urge his own team to do better, to do more. republicans hate it. it is why republicans in washington hate him but in engenders so much enthusiasm and loyalty from his supporters. stuart: he has a legal calendar that's very crowded. will those proceedings, legal problems increases base? >> yes. the short answer is absolutely it will but he's like teflon don. never seen anybody who takes more hits than this guy and turns it around to his strength and even in this case, indictments, the idea that you would have court cases and threats of jail time hanging
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over, any normal politician would destroy them but for donald trump, mainly because he is such an outsider and this just underscores the degree to which he is an outsider and the degree to which even republicans but especially democrats in washington despise him and i think a lot of people in the country so hate washington and politicians that they are like if they hate this guy that much he must be doing something. stuart: politics is really fun, isn't it? i really enjoy being in politics. charlie hurt, he loves politics, we will be back with you later on. we really have to get to the markets this morning because we've got all kinds of things happening later today. for start the nasdaq is up 73 points as we speak, on the back of big tech gains we've already seen this morning, scott shalladd a mac, microsoft and
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apple report this afternoon, same question i asked the regular wall street analysts, which of those two companies is best positioned with artificial intelligence. >> microsoft. stuart: that is good news. >> i think they are better place, they've been around a lot longer. i know you've got to hold it, i play to the base here, microsoft is a better place. they will both do well but microsoft can do better. stuart: i think of you as an agricultural guy. you wear a cow jacket. you are an agricultural guy. we've got this heat wave that is affecting 250 million americans all across the country. are we going to have a food problem with this extreme heat? >> we will have a food problem for lack of water and extreme heat, there is a word in the english-language for the type of weather we are having,
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called summer. we have a winter solstice and summer solstice, the earth continues to heat up a month after the summer solstice, june 21st, annually the hottest time of year, same could be said in the winter, coldest time of year is martin luther king's birthday. january 20th is when we've got -- after the coldest day of the year. also and cold temperatures, cold temperatures carmarthen hot temperatures. we save one hundred thousand people a year because but getting warmer. a factor of 40-1 in the us and canada we lose 100 to 115,000 people a year from cold temperatures, 1500, 2500 a year from hot temperatures.
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we will see this hyperbolic dramatic headline stuff but at the end of the day even place like india, seven people will die of cold versus one person dying of heat. as the world gets warmer will we are saving lives. look at the bright side of life. stuart: glad you pointed that out because that is original stuff i have not read anywhere in the media. thank you very much. and we told you how the biden administration targeting hot water heaters. and >> we asked what appliance will come after the water heater and watch the exchange. >> they will have to replace that. >> when it comes to water
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heaters, it is proposed, it won't be enacted, it will help consumers $11 billion a year. that's with the president wants to do, to lower costs for the american people and the inflation reduction act is so important because it is going to provide $2000 in credit as it leads to energy. >> california is any guide, usually is, sets the pace for the nation, gas furnaces so the white house, you won't notice the change and it will save you money. critics say leave my household, garage, and driveway with my electric car. blue when you cannot tell me you're going to save me money unless you can tell me the future price of electricity. >> savings over the lifetime of water heater would be $1868. stuart: okay. still can't tell me the price of electricity.
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start with some movers, 3m. dow stock. >> major conglomerate, dental products up 5.4%. revenue raised the profit outlook for the year and they see inflation lower than it was last year. >> reporter: is disney under pressure? i think it is down again today. it is down 85. lauren: they are worried about content, looking at star wars, pixar, on the report, degraded in performance, hinders subscriber growth, why sign up for disney plus for instance when you' re not hot on the titles you are watching? stuart: show me williams, pain people. lauren: sales rose 6%. it was on higher prices but also higher volume. stuart: thank you.
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another shipping giant could be gearing up to go on strike. fedex pilots rejected a tentative labor deal. we have the details on that. the senate wants the army to use artificial intelligence to track soldiers physical and mental health. biden took a hard line against saudi arabia. he called mbs a priority a and they are using money to influence american golf and soccer. worldwide sports. morgan ortagus has a view on that next. (fisher investments) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? aren't we all just looking for the hottest stocks? (fisher investments) nope. we use diversified strategies to position our clients' portfolios for their long-term goals. (other money manager) but you still sell investments that generate
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>> look at the nasdaq go, 11 for the dow, we moved a big tech earnings. israel passed a bill to limit the power of the supreme court. all hell breaking loose over there. morgan ortagus joining us. what is biden's relationship with israel now that the bill has been passed. >> a difficult one for biden to navigate. and and to compare to the leftist members of his parties, the president of israel's
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speech, to the joint session of congress, biden, for democrat, and much better relationship with israel, however, he does have people in his party, like what was said last week about israel being a racist state by pramila payapal. biden is constantly having to deal with the leftist energy of his party which is pretty anti-semitic. stuart: i want to talk about saudi arabia, billions of dollars in golf, horse racing, formula one, you name it but ending america's energy independence, did biden give them the money to do this? >> saudi was wealthy without
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any actions they took, but as you alluded to before the commercial break, biden said he was going to make mohammed been salmon the crown prince. and keep american troops in saudi arabia, they are important hedge against iran, the leading state sponsor of terrorism. what have you seen since biden advocated his leadership role in the middle east. china brokering a peace agreement between israel and saudi arabia, we saw on the front page of the new york times and whatever the administration reads, we saw them in the for been city, we saw saudi arabia and iran making peace with china with china brokering it. those are the things that
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happen when you see influence in the region. there are plenty of countries that are. you have to look at the relationship, they are working together, they are very good intel sharing partnership with saudi arabia with tons of saudi students coming to the us. not a perfect country, no one said it is. and decide they are not going to pump here at home. to ignore sanctions on iran or oil from venezuela. and with the emerging markets coming together. you have your eye on this. have according saudi arabia. russia, china, whenever we fail to bring in a friend along like saudi arabia, russia and china
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are waiting, foaming at the mouth trying to get them -- that's a story to watch closely. stuart: we shall watch it closely. we always appreciate it. and biden's state department, millions of dollars on pet projects. that's not dogs and cats. lauren: $30 million to diversity, inclusion, etc. overseas. $120,000 for gastro diplomacy, food of other cultures. this is an idea of what a pet project is. misplaced priorities, asking why, why your mark, passports on time.
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stuart: is a gross delay. and artificial intelligence on the front lines. as long as we have the best ai, don't have a problem on the front line. lauren: what about wearable sensors the soldiers would wear and in real time the data on their heart rate, stress level transmitted back to commanders and the command makes real-time decisions. about what to do next. stuart: just like larry kudlow. stuart: it is a sense -- lauren: how would a soldier feel? who had covid, separate them from the rest of the room. stuart: made him safer.
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lauren: bipartisan move in the senate. stuart: i'm in favor. 200 school districts doing social media companies like facebook and tiktok claiming they are causing serious harm to students mental health. lydia reports on that shortly. 1/4 of college students have a positive view of capitalism. wise that? a college professor takes it on next. ♪ ♪ i was told my small business wouldn't qualify for an erc tax refund. you should get a second opinion from innovation refunds at no upfront cost. sometimes you need a second opinion. all these walls gotta go!
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those stores, down. 6 one. lauren: this is a recession signal, bank of america, and worsening demand, discretionary categories. stuart: who spent a fortune in the place. stuart: domino's pizza. lauren: 14, 483, and the reason is easy. food cost helping bring the price - the cost of pizza down for the company -- the cost of pizza down for the company and the deal with uber to deliver them. stuart: -- stuart: i bought it after -- 200 school districts are suing social media companies and students mental health. the company claim the law
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protects them. lydia will sort it out. lauren: school districts allege social media companies targeting kids with intentionally addictive products. and the resources, and mental health issues. and and children in different mental -- of elemental change are vulnerable to addictive effects of these features, the social media company target them anyway in pursuit of additional product. meta, instagram, tac talk -- tiktok are defendants in this lawsuit and section 230, claims on addiction, that would not be under section 230. that a significant stress test for the law.
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section 230 developed in 296. we reach out to these comedies and received statements, and allegations are not true. and it is court to the work. and always have more work to do, we feel good about the role snapchat plays in helping a friend feel connected, informed, happy and prepared and many challenges about lessons. a spokesperson for medicine, quote, we want to work with schools and academic experts to better understand these issues. there are nearly 200 school districts that are involved in a with 13,000 school district across the country, the number of plaintiffs that grow before this is over. there has to be money, and
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changes to social media companies. stuart: class-action suit. lauren: i think so too. stuart: thank you very much. take a look at this. just 23% of students, college students say they have a positive view of capitalism. nicholas giordano joined me now. can you explain this. why do such small numbers support capitalism? >> no one should be surprise. campus reform reporting how college professors, with anticapitalist sentiments, for example, you have a professor tell their students individual liberty is responsible for capitalist violence. at columbia university professor said capitalism is the root cause of both world wars and slavery ignoring the fact the rise of dictatorships and tens of millions of died in soviet gulags.
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blue and those are outliers. and and from uc san diego, celebrating shake of error as a revolutionary. statues of george washington and thomas jefferson and mousy tongue bust statue simply okay. students are taught what socialism actually is. they can't define it, they give platitudes about helping people, closing the wage gap, they point to the nations, preach democratic socialism which doesn't exist without realizing those countries rank higher in the list model, >> twentysomethings largely. youngsters are always liberal, generations have been liberals, look at this from winston churchill. if you are not a socialist by 20 one you've got no heart. if you are still socialist at 25 you've got no head.
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certain relevance to that. >> it is relevant. >> they are not being taught what capitalism is about. capitalism has lifted people out of the last 30 years, responsible for destruction, and look at venezuela, from the wealthiest country in south america and people resorted to eating the animals according to reports a few years ago. stuart: courses on capitalism? >> yes. robust american civics program that teaches about the founding fathers, the mindset, the intent of government, liberty, capitalism, limited government principles that our founding fathers set forth. we need to speak out against diversity, inequity, us inclusion, that puts the socialist model, equity, collected. we need milton friedman and my generation which don't exist come out and speak forcefully in defense of capitalism.
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we need to change the mindset. the students graduate. they become the leaders in government, politics and policymaking, law, and medicine and they are going to take, if they don't know an alternative they won't turn their backs on socialism and become the conservatives at the age of 40. stuart: i was a socialist when i was a young man in london. i'm no longer a socialist because i'm now 75. you make a good point. >> thank you for having me. stuart: parent spending thousands of dollars to get their daughters into a sorority. lauren: what exactly is that? >> consultants, coaches and they could charge as much as $4000. stuart: is it that important. >> for some women yes. let me explain. we are about to enter russia, interview to get into the sorority, this defines your identity before college and
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after that. so the coach is teaching basic skills. had to look somebody in the eye, get letters of recommendation and write an essay. how would you cleanse your social media page. these are life lessons to get them into a college sorority. described as harder than business school. it might let you get a job. stuart: no such thing as a fraternity or sorority. lauren: would you have joined one? stuart: i don't join. stuart: you are a good man. so -- >> delta gamma. stuart: whatever. so now can i get on with this? new yorkers are used to seeing these city bikes all over the
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take charge of your health care. call unitedhealthcare for your free decision guide and learn more about lowering your out-of-pocket medicare costs and seeing any doctor who accepts medicare patients. oh, and happy birthday... or retirement... in advance. stuart: the irs just reversed a decade-long practice. >> tax reform.
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the agency cause a commonsense change, changing a long-standing procedure will increase confidence in tax administration work and improve safety. and they need to be stopped. >> the arrogance of bureaucrats. they demanded to come, and comes here with an alias, she calls her lawyer, get out of the house and here's the kicker. this irs agent goes to the inspector general at the treasury department and says the police were arresting him. that's why we got to stop that.
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and 20,000 employees. the irs needs to talk to, send you a letter in this snail mail and look at that. no unannounced visits. police department are using artificial intelligence. madison -- madison alworth has the story. >> video camera technology, track cars and also flag suspicious activity. and they flagged that vehicle regularly made suspicions, a pistol and 34,000 cash hidden throughout the car. the driver pled guilty last
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month to drug trafficking, his lawyer argues the license plate collecting was an overreach arguing the breath of this system license plate system is spectacular and amounts to a warrantless search, road cameras are not new. being able to use all that data with the help of ai is newer, the president of recourse, requires human work. >> the notion of privacy in a public setting goes behind us. every doorbell camera and cctv camera everywhere needs to do old-fashioned police work and this is supporting evidence to help identify where the problem is. >> part of the back lash, using recourse technology. contract with the federal
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government, and a specific number of police partners. they have coverage of 90% of the roadways, it can be mitigated if the public is aware, because of what you do and use it, and what you are addressing with it. >> this precedent that establishes the public space and different venue, people feel cars are very much as there is but you're on is theirs but your on a public road, camera and license plate reader. if you commit crimes ai will help catch it. stuart: from what you just told us anybody's car could attract all the time everywhere in real time. >> reporter: in the past having a human read 50 million cameras is difficult.
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machine learning, they turn it over quickly. people know there's -- that they are on the highway. stuart: we have been warned. lift looking to cut costs and i know what they are doing. i tell you i did not know that lift runs the city by that. >> reporter: looking for an investor to pour some cash into it. they are expensive to operate and a distraction from the core business to compete with uber for ride sharing. not necessarily a bad thing. riding a city bike is dangerous especially if you are not from here. if you are a tourist and on one of those bikes. stuart: build electric bikes i have to watch out.
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enough of that. now this. the justice department has sued texas, barriers in the rio grande. the texas governor says he won't comply, he could take the suit to the supreme court. chad wolf on that next. i got into debt in college and, no matter how much i paid, it followed me... everywhere. so i consolidated it into a low-rate personal loan from sofi. ditch credit card fees and high interest. borrow up to $100k. sofi. get your money right. do you shop for vitamins at walmart? force factor products powerfully improve your health, but they're also delicious, easy to use, and affordable. that's why force factor is now the number one best selling herbs and supplements brand at walmart. unleash your potential with force factor at walmart.
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stuart: the department of justice suing about the barriers along the rio grande. griff jenkins with me. how did texas governor abbott responded this lawsuit. >> reporter: he is saying bring it on. earlier this month, officials deployed the barrier in the rio grande as part of operation lone star to stop the unprecedented flow of migrants. abbott responded saying of the administration left no choice. the doj called yesterday claiming the governor is
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deploying the buoys without federal authorization. responding with bret baer. watch. >> was stopping to continue to deploy those is not grounded, we believe we have the right to do so and we will take this lawsuit all the way to the supreme court. >> this after we've also seen governor abbott lining the concertina wire in some areas to deter migrants. unclear if they can force them to take down -- the white house is blasting its efforts saying he's making things worse. >> let's be clear. governor abbott is making it harder for the men and women on the field, he's making it harder for people who are supposed to work to protect our border. >> the white house is patting itself on the back touting lower border encounters last
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month but it is unclear what that has to do with abbott's efforts with the record heat in full effect down on the border. stuart: thanks. chad wolf is former acting dhs secretary and joined me now. seems to me this administration will do anything to keep the migrant flow going. where am i going with this? >> you are exactly right. if they were serious about enforcing the border, working with governor abbott and the state of texas to find out how to make the solution work, it appears their first reaction is let me sue you to stop this. lee you have to ask the question why would they want to stop this? not because they are violating some obscure law by putting maritime buoys in the river. their approach is not an america first approach, they don't care about american communities on the border, seems the first order of
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business is to craft policy that benefits illegal aliens at the end of the day. it's the wrong approach. you are the vice president, vice president for the american people are secretary of homeland security, first and foremost and your policies derive that, let's sue the state of texas and the governor to stop this so we allow more individuals to come into the country. at the backwards reality. stuart: the world turned upside down. before title 42 ended roughly 9000 migrant encounters at the border every day, that number has fallen, can you explain this? people are using the apps to get into the country so it's not like the old days. explain it to me. >> that number that we use, the monthly apprehension number is no longer the number to look at
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because as you indicated this administration is not only for rolling 30,000 individuals into the country every month, they've advertised to the world all you do is get in northern mexico, come to a point of entry and we will let you in and those numbers are no longer counted as illegal apprehensions. the white house says they dropped 50%, 60%, the illegal crossings on the river, the illegal crossings at ports of entry skyrocketed 800%. go to the website and click the filters to understand the illegal apprehensions and encounters in the month of june alone it still over 200,000. this administration continues with this disinformation campaign, not being honest. stuart: thanks very much.
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jimmy fail on democrats in the media sounding the alarm of biden's age. hunter biden's former business partners upcoming testimony. jason rantz on a judge ruling against seattle clearing out a homeless in common. what do they do? the 11:00 hours next. where our focus is to always support the people who live and work there. because you call these communities home, and we do too. pnc bank. you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. i go through a lot of pants. before investing carefully read and consider fund investment objectives, risks, charges, expenses
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