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tv   Cavuto Coast to Coast  FOX Business  July 27, 2023 12:00pm-1:00pm EDT

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varneyviewers/fox.com. i expect a lot of editorial. i complained about vaping devices, one of the worst things possible, or high school kids. and my editorial cost quite a stir. what do you think? lauren: we do that tomorrow. stuart: a huge threat to the education of our children. you don't know who is stoned. lauren: when they are supposed to be learning. my teachers complain about this, nothing they can do about it. stuart: you don't know who is stoned, it seeps into your pockets. time is up. coast-to-coast starts right now. neil: 14 straight updates for the dow if we make official close with again.
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any gain. gas which president we would have to go back to the last time we saw 14 days in a row for america's most iconic average, ronald reagan, 13 consecutive days yesterday. william mckinley, if we make it 14 today. back to 1897, the last time we saw something like this. this is something new. earnings are doing their part, surprisingly strong gdp report, growing confidence the fed's latest rate hike, certainly doing its part. what is remarkable is all the worries to make all this happen. bank of america bracing for $90 oil again and potentially an impeachment inquiry on capitol hill again through all of that, stocks racking.
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time to get going. coast-to-coast starts now. welcome, glad to have you. the market is not the only thing on fire. take a look, 200 million americans facing extreme heat conditions dealing with soaring prices that come with those temperatures, lucas tomlinson has more from the white house. >> seven years since the nation's capital touched triple digits. might be happening, the heatwave enveloped the country, the president received a briefing with folks today. mark meredith head that way.
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some are blaming republicans for the heatwave. hillary clinton tweeting the following, quote, hot enough for you? thank are himage a republican or better yet, vote them out of office. karine jean-pierre outlined the events of today. >> this president, to deal with a crisis currently same. a couple things to help the community deal with different extremes. extreme weather, a cooling center. >> the cooling centers -- >> as far as where the cooling center is, for all of you to share. >> reporter: for americans, cranking up the air conditioning they can, 50% of
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the power comes from, and and the national oceanic and abbott circuit been astray should is investing $7 million from president biden's inflation reduction act to improve the nation's weather forecast, the department of interior investing $152 million, bipartisan infrastructure, enhance climate resilience in california. the president meets with italy's prime minister at the white house. most world leaders, some reporters allowing this to take place. neil: rome was 107 ° the other day. neil: i see what you did. i speak for my people. and what is going on in public ventures, chief market strategist. great to have you.
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you generally don't get immersed, it is 14 days, the nasdaq is on fire. and it is mass times velocity, a medicine velocity in the market. >> and the bears were adamant the economy is going into recession. two quarters in a row. neil: see it. >> the problem with being right is people expect you to keep being right. neil: going against the grain, when other people join you. you are not against the grain. the contrarian in the you worrying about that. >> the contrarian get skeptical
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of the big markets, the dow, the nasdaq, driven in a handful of companies in the index. i'm getting more skeptical of how long this continues, 200% this year. most of that happened, not profit growth. neil: and also cut costs a lot, to associate that. >> that gets ahead of itself. overlooked, undervalued names in biotech and microcap, left behind, there was a nascent recovery and small-cap space. these are companies that if we are going to avoid a hard landing. neil: one of the things i heard about the market and hope this
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rate hike yesterday, the cycle is done. >> we had one or two more rate hikes. people thought i was crazy for saying that. neil: it seems to be to adjust. play that out for me. and they expect cuts, if they go back 6 months ago. >> the fed is being adamant. i will give the fed credit for what we are going to do and stick to it. most often the fed says they think that they were going to do it and market investors are taken off guard. we go this path, believe it or not, markets are taking it in stride. neil: another rate hike, the
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question, by year's end, we are looking at a fed funds rate which would be accord of the%. seems to interfere, one more hike. >> when we have gdp print harder than expected. the fed is fighting this battle to tamp down the economy. they are resilient but shifting where they are spending. and the economy will avoid a hard landing. julie: we see the inflationary nightmare in different ways, the meals were effectively cheaper. mcdonald's was buoyed by value meals. people are playing this and pivoting as they have in the
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past. you can only do that for so long but along comes the administration, that is coming down but that trend is our friend. >> politicians take credit for economic cycles. i do think if inflation proves persistence, changes in behavior won't have that impact. you can only down shift. we've seen mcdonald's value meals, amazon results, consumers anticipating a slowdown. you can only do that so long. costs keep going up. it angers my youngest one. neil: that was disappointing that mc rib is not a permanent feature on the menu. >> is that possible? i am talking about our people. neil: no ribs in that.
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the chief market strategist who will be back a little later in the show to see how this moment holds. nasdaq running away with it. foreign policy advisor. maggie, niall, italy's georgia maloney, good relations with this president. and up and coming european character. she is saying we've got inflation coming down and that has been the case where inflation is off of its highest levels but high enough for what consumers and shoppers are doing, we are not out of the goods yet, are we. >> georgia maloney is in
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washington meeting with president biden. she is fresh for italy. she's pro free market politician, she's a thatcherite conservative in europe. it's a very good thing for europe as well. the economic challenge on top of the agenda, we need to see cuts in government spending. also cuts in taxes and pro economic freedom agenda. maloney is open to that direction which is a different part to be taking. that's what we need to see to kickstart the economy. i think maloney is heading on the right path. what europe needs today.
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neil: she's an italian manufacturer. conservatives are rallying around her, average voters rallied around maggie thatcher until her own party did not. i wonder how things are going in britain in that regard. we have some crucial elections kept conservatives. and holding by the skinniest of margins, how would you play it out there. >> in the uk. a series of elections, conservatives held one see and last two. the conservatives at the moment unfortunately are heading on a downward trajectory in the uk, in the fall of 24. has to be held by january 2025
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and conservatives are struggling on many fronts. boris johnson was a popular charismatic figure in the conservative party ousted by thes. it is a more conservative agenda cutting taxes. controlling immigration, the border crisis, and more conservative leadership in the united kingdom at the moment. and there's a fire in his body in order to win. if socialists take over control of the uk that would be a disastrous, the conservatives have to turn things around. it will be tough for them. neil: the prime minister can always call the election early.
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what is likely to happen, early next year. >> most likely, in fall of 2024, conservatives are doing badly in the polls. they need time to turn things around. neil: good seeing you again. gardner, foreign policy advisor of margaret thatcher, the italian version of that. and to re-galvanize that. and trump lawyers our meeting with special counsel, a third big indictment against the former president. his role in the january 6th uprising on capitol hill. we will get the latest after this.
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golo is real and when you take release and follow the plan, it works. neil: ever since the hunter biden plea deal exploded, the investigation is ongoing. that was not a shocker. the relative silence on the part of democrats.
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hillary vaughan following it on capitol hill. >> reporter: both slideshow it up hoping the judge would rubberstamp this deal that was production of years of an investigation and hours and hours of negotiations between both sides but instead of rubberstamping and she took a rubber eraser to it, gave both sides 30 days to answer questions, handover documents, see if they can come up with something she can sign off on. in the meantime democrats on capitol hill calling the idea of an impeachment the will look into whether president biden had any involvement in his son hunter business deals that are being investigated. crazy. >> you support an impeachment inquiry into president biden? >> we have more problems. let's make the country work. >> reporter: are you not
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curious or concerned if the president lied? other democrats tell me there is no evidence of any wrongdoing by the president and nothing that leaked out from whistleblowers or hunter's x business partners is proof either. they aren't interested in digging up detail through an impeachment inquiry. >> democrats seem to not care when there is a democrat in the white house about corruption in the oval office. >> we care about corruption. the corruption that we are seeing is a corruption of the republican party that has no high crimes, no misdemeanors, just has a thirst for impeachment. >> reporter: wouldn't and inquiry help democrats get the evidence you say you don't have at this time? >> not the democrats don't have evidence, it's that republicans don't have evidence. >> reporter: republicans say they need this inquiry to get that evidence. the most prominent republican to back and inquiry, house gop
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conference chair elise stefanik said she would back and inquiry. there are some republican this on capitol hill that are worried about this coming across as a tit-for-tat. you impeached our guy, we will impeach yours. neil: it could explode on itself. a quick question. when they see, have you ever seen someone scrambling, i want to go the other way, hit the elevator button. >> reporter: i won't say who but there was someone at the end of the hall saw me, went to the other way. i tried to catch up, wasn't fast enough. i got my steps in and i tried. neil: sarah bedford of the washington examiner, all these various problems going on. sarah separately relating donald trump, his lawyers our meeting with the special counsel regarding january 6th
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probe with more indictments coming on that. the georgia issue and what the president might have had at the time in the georgia recount. where is this going? >> reporter: looks like by all indications jack smith could be preparing to indict donald trump and that would be the third indictment he has faced this year. there could be 1/4 in georgia. from donald trump's perspective he couldn't ask for a better split screen to drive home the argument he is making is that the justice department is coming after him too aggressively, targeting him specifically. you have prosecutors in the case of donald trump having really aggressive interpretations of statute, allowing them to strip away trump's attorney-client privilege in the classified documents case and a lot of other, sometimes even questionable interpretations of
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the law to get trump. on the other side of the screen you have clear evidence the justice department is pulling its punches in the biden case covering up clear evidence of corruption. on the other side of that, generous interpretations to get the bidens out of trouble. that split screen may help trump. neil: talking to karl rove yesterday saying we could have this historical anomaly, biden/trump rematch, both guys in the middle of legal proceedings, the former president, trial scheduled for may of next year on the classified documents. and this president may be subject of possibly an impeachment inquiry, could be a mess. >> absolutely. this is what the white house is
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trying to insulate biden from all along, why hunter biden's lawyers objected to the questions about the foreign lobbying allegations. that's where the nexus of president biden's involvement lies. we have the testimony from devon archer, hunter's former business partner to house republicans. he is expected to say quite a bit how about how involved president biden was. more evidence republicans are able to gather from this and the justice department is being forced to start gathering, the deeper president biden is going to get pulled into this mess. something the white house has been trying to stop all along. it will be hard for president biden to stay on the path he is not issuing denials and playing this off as just some misdeeds from his son because it appears he was deeply involved in this. larry: the so much we don't know. sarah bedford, good seeing you again.
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we know they are out there, ufos exist, that's coming from the witnesses on capitol hill yesterday. these weren't crazy witnesses. some of them were established, well-known, heroic fighter pilots. they generally don't mess around and imagine things. we will talk to one after this. ♪
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you're an owner. our financial planning tools and advice can help you prepare for today's longer retirement. hi mom. that's the value of ownership. >> as we convene, you aprn our airspace, grossly underreported. these sightings are not rare isolated. they are routine. commercial pilots, trained observers whose lives depend on accurate identification witnessing these phenomena. part of the program are more aware than they let on. classification practices keep
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official information hidden. neil: whether he was referring to it, the fact that was ryan graves himself, former navy pilot, they are not prone to exaggeration or crazy thoughts, carried little gravitas. ryan graves, good to have you. >> happy to be here. neil: what was the reaction you got in general? you wanted to get it out there, congress is eager to get it. what did they say afterwards? >> wasn't what they said afterwards but during the hearing. it came out clearly during the hearing they didn't appreciate the implications of having unknown objects in our airspace. neil: did they have any knowledge, the exchanges where
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they don't have the power to go ahead and visit these facilities so that was weird. were you surprised by that? >> they had difficulties getting information. information flow is a big problem. it has been silent across different offices, a particular case representative gate spoke about where he had to speak with various pilots who told him they were having a hard time reporting safety information. neil: you have been asked so many questions. i will extend that, what is the idea of what you saw and whether it was from out of this world or from our world and sophisticated machinery or weapons systems that might be hours or china's or russia's not from another civilization.
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>> what we are seeing are demonstrating capabilities that are exceeding our own, how they are moving, the way they jump different directions, climb and descend, the fact they do this isn't something we have in our arsenal that i am aware of. this is cause for concern. neil: people say these are secrets he wasn't supposed to stumbleupon or his colleagues, that did, but they are not from space, they are our stuff or other countries stuff, we didn't know they had this stuff. >> not about where they are from. i don't draw a conclusion about them being foreign assets or space assets but the fact is we can't have these objects
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whizzing by our fighter aircraft. that's not good if it is our own forces or if it is china. neil: others have identified seeing objects that could not have been from what we've seen on this planet. you didn't take that leap. the other issue that came up, aliens or creatures or whatever you call it that were captured or died and they are here at these facilities. do you believe that? >> that was the essence of the testimony he gave under oath. it's important to remember he was tasked specifically to investigate these claims as a member of our uap task force. he was the person who gave this information and is testifying before congress what he found. neil: do you think they are still here, alive and well and
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still among us? >> not an answer. i wish i knew. neil: for they were, given the technology? >> i think we need to treat it like any other issue, national security, we need to identify unknowns and understand if it is an adversary. if it is something that doesn't fit the category of one of our adversaries we need the intellectual curiosity and integrity to look at this and not draw conclusions, or what its intention is. neil: those who laugh at your dismiss you, there goes ryan again. >> not really. this isn't a topic that i was interested in before being exposed to it. i don't draw conclusions where these are from and add the cultural baggage to it but
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identify an unknown and we are working to understand it. i chair an engineering organization called the uap integration committee, we talk about solutions for reporting and detecting these objects that propagate industry, scientific panels at the conference last june and or the ascend conference, the space conference in october. there are solutions for this. we need to look at the data earnestly and objectively. neil: the way you present and explain things, that added to your credibility. thank you very much. >> thank you for having me. neil: updating you on the fallout for going woke for anheuser-busch. a lot of jobs and it all goes back to the boycott. that is coming up after this. ♪
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. 20 neil: meta is on fire, 6.3%. a lot was built on cost and how it will roll out. we will talk about that in a second. now madison alworth is following another develop from anheuser-busch in bev, the bud light boycott is not quitting. >> reporter: folks are not quitting. they are being laid off. bud light has laid off hundreds of employees as those sales slump 2% of the 18,000 workforce strong, being cut by
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the largest brewer in the us. these cuts do not impact, focusing on corporate and marketing roles, specifically in st. louis, new york and los angeles. brandon whitworth wrote we never take these decisions lightly, we want to ensure our organization continues to be set for future long-term success. corporate structure changes focus on what we do best, brewing great beer for everyone. the slump started in april, a promotion with transgender influence heard dylan mulvaney. upset beer drinkers upsetting bud light is the most popular beer in america opting to purchase modelo special, the top-selling beer in the usa. you can see how much beer sales have changed since the boycott. on premise sale at bars and restaurants, when you look at the brands, guinness up 20%,
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miller light up 20%. bud light sales down 34%. that is on-site sales. similar numbers when you look at beer distributors. anheuser-busch reporting earnings, to see how long it will last. with the job cuts, some more permanent shifts in the workforce because of this. neil: the spillover is amazing. i was thinking, disney has experienced something similar. park attendance is down. i am not saying the weather has something to do with that, 200 ° in florida, people are roasting about the woke this of the company comes back, people say enough of this. i am wondering where is this going? >> it's a lesson from public company ceos, don't miss
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products with politics, the people want to consume what they come to the business for. the hullabaloo at target, the swimwear they were offering. people patronize those businesses, unless it is a product or service that is definitively partisan like red state brewing company. this is probably going to be a hard thing to recover from. but not into this political -- neil: in the case of anheuser, looks like they were trying to cut their losses, it lingers and festers. jackie: it wasn't a commercial, this was a partnership. tons of people. if the audience picked up on the facts. transgender activists and influencer was one of those. it's also a story of communication. they didn't get in front of the
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story, they didn't make a change. there is so much going on in today's world, so many influencers out there. how do you correct that as a brand? bud light continues to falter. they didn't come out strong afterward. this has festered longer than anyone thought possible. that relies on the company. neil: if you could overdo it. esg and all this stuff. you don't have to shout those things or rub people's faces in them. when they become the central breeding core that people interpret, you are doomed. >> howard schultz was the early champion of esg, can't lead with these initiatives. the reason for business is shareholder value. i think you are learning this the hard waybillions in market
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because of a marketing decision. let's go offbrand and higher and influencer that affects. 004% of our demographic. neil: how do we do this at the board meeting, market the product like this, someone at the meeting had to say i don't know if it is such a good idea. it never got to that stage. >> than there is back lash and they continue on the path. talking about loss of market 15% market, $19 billion in market. i'm not a beer drinker, give me a glass of wine or martini. definitely. what is surprising from a consumer perspective, i love certain drinks. they have to do something pretty aggressive for me to not like tito's vodka.
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bud light, number one most popular beer, the fact they lost that much says something about values of a company and what we want them to do. neil: focus on the rides or whatever. it halts it holds now. a lot of companies do that. neil: they did not get out of this, they let go the people in charge of the marketing decision and didn't communicate that clearly. we messed up, not going to do that again. we heard you are our favorite beer drinkers. there is not many. and other than that, 34% decline. neil: thank you. great seeing you again.
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moments away from the former atlanta fed president. the final hike on the part of the federal reserve, maybe not, the job is not complete. what is coming up on "the big money show". >> reporter: markets shrugging off the rate hikes saying i guess we don't care about another 25. since 1897 it is about big tech today as well. charles payne set to join us. is it too late to get in on the rally, all that coming up, more coast-to-coast after this. ♪ ♪
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i suffer with psoriatic arthritis and psoriasis. i was on a journey for a really long time to find some relief. cosentyx works for me. cosentyx helps real people get real relief from the symptoms of psoriatic arthritis or psoriasis. serious allergic reactions and an increased risk of infections or lowered ability to fight them may occur. tell your doctor if you have an infection or symptoms, had a vaccine or plan to or if ibd symptoms develop or worsen. i move so much better because of cosentyx. ask your rheumatologist about cosentyx. >> we took another step by raising the interest-rate 1/4% and remain committed to bringing inflation down to the 2% goal. neil: the most exciting part of jerome powell's comments to reporters after they raised the
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interest rate accorded point again. the 11th time he has done so. the highest in 22 years. the former atlanta fed president, always great to have you. >> there was an encouraging report in june and headline level, the underlying pace of inflation for other measures and elevated, there's a fair amount of work to do and i think powell acknowledged that. neil: means more than one interest rate hike? >> i don't know. we got little guidance from
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powell. i don't think they are thinking ahead in our concrete way, the press conference they are taking in a meeting by meeting and this is the mantra we hear every press conference. we emphasize the same points, they will watch the data coming in and decide what they need to do. it was interesting that he acknowledged between yesterday's meeting and the september meeting, a bit more information coming in so that they could have a lot to work with at the september meeting. neil: the dow is up for the 14th straight day, that we are not going to have -- the soft landing so many pooh-poohed
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before the hiking campaign began. >> a soft landing to be achieved, this economy, the overall economy, very resilient to use the word so often cited or just basically pretty strong. inflation, at the same time is gradually coming down. with some patients we might pool that off. neil: did you pay attention to the markets? whether they are getting too giddy, part of it is cool over the top spirits. he didn't do that much yesterday. what is the market's role in the big decisions? >> it is a factor that is
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monitored because the markets actually dictate the ultimate financial conditions that affect households and businesses. it focuses on a main street economy, not just the financial economy. the markets are terribly important but they are not the primary focus of the committee. neil: what do you think of the concern of pivoting, cheaper products with numbers out of the day, people skewing more toward the less expensive means. how do you think we are getting through this? >> the consumer remains strong and healthy and therefore demand, consumption in the economy is continuing to be a driver of good results.
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having said that, i heard like you, anecdotes to the effect the consumer is more cautious, to trade down. that has not stopped consuming about cheaper products and there may be an evolution on a more conservative consumer. neil: thank you for your service, atlanta fed president and ceo. more after this. the dow is up a little. ♪ i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so...
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>> barbie deal sales were falling at the end last quarter, kind of weird because ballhype ahead of the barbie movie coming get. there wasn't a lot of the pent-up excitement we've had since the movie, number one movie in america, stronger start to a movie this year. maybe that will change but last quarter there was a disappointment, barbie dolls couldn't pool their weight. now they are pulling their weight and then some. now to "the big money show". taylor: i want to go back to the former atlanta f

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