>> no. i'll call him a dark and don't have to get the caution. go dogs and others from will go to come back to this real part. >> the state of georgia, your work on this money. francis. >> a new economic indicator, 14004 dog costume. >> did he charge it? [laughter] >> oh boy. that is very strange. probably just fell over in those pause look fake. come on. before we go, quick check of the markets, we have red arrows. nasdaq is down 84 and a half and s&p down 19 points. doug collins, thank you so much for being here. varney & co. is up now. good morning. stuart: it's great to be back.

joe biden sat in on 20 speaker phone conversations with his son, hundred and business associates. no direct response yet from the president but the republican chair of the oversight committee says devon's testimony indicated the president violating foreign agents registration act, it's a serious charge. democrats set out to respond instead the phone conversations were not about business, just niceties and the weather. donald trump is running away with the republican nomination, increasing his lead over his challenges. he says he will let them debate so he can pick a vice president. a poll from the new york times and says biden supporters are a mile wide and an inch deep, approval rating 39%. to the market, stocks have had a terrific run, five state runs but is only in the early and going.

the dow may be done 100 points, 20 for the s&p, 85 and nasdaq. uber, put the flagstone. the stock reached $50 a share, full disclosure -- i bought it two weeks ago. the report says uber made a profit. but corn are now in the $28000 range, 288 to be precise. gas prices still going up. national average for gallon of regular 3.78, up another 3 cents overnight. diesel, the average is 40 -- of 4 cents overnight, 17 cents in the week. here's the problem -- the price of oil reached $81 a barrel. on the show today, climate change, an op-ed in the "wall street journal", climate change obsession is a real mental disorder. that puts the kat among the pigeons i believe.

here's another household appliance, air conditioning. they want to change the rules on the stuff that is in the air, that will make the price go up. tuesday august 1, 2023. ♪ ♪ stuart: love the way you live. that's a politically loaded piece of music to start the show with. let's go. hunter biden's former business partner testified in a meeting with the members of the house oversight committee and said joe biden was on the calls.

>> archer said then vice president joe biden was on speakerphone at least 20 times during hunter's meetings and he said that's why burisma paid hunter $1 million a year. >> we have evidence in sworn testimony that from a fellow board member that they were pressuring hunter to legally get on the phone with his father and get this stopped so evidence continues to mount and today we saw joe biden lied to the american people. he knew exactly who his son was getting the millions of wires from he spoke to him and spoke to him often. >> biden and son, access to the biden brand so i see this shaping up to be a two-part scandal. bribery allegations about potentially accomplish joe biden and a cover up by the department of justice. stuart: good stuff, thank you.

goldman who was in the closed door meeting says there's nothing to see here. >> but the witness was unequivocal and stated very clearly they never discussed any business on the phone conversations. there was niceties and they talked about the weather or whatever it was but never any business. stuart: niceties and the weather. you buying back? >> no and when i guarantee the transcript comes out, niceties and the weather were not being discussed but let's say that's all that was discussed. just having joe biden come on nicole, it is a feeling, there is a presence there and fat in and of itself is what you are paying for, it's the threat or promise that having a person in joe biden's stature accomplishes for you and your business goals

whether you are trying to get a contract with the foreign business entity or a prosecutor in ukraine fired. stuart: i noticed it was a first-term freshman dan goldman who was sent out. none of the senior democrats wanted to touch this. >> laurent blue do something, the d.o.j. being part of this, goldman is one of those lawyers, we seen him before will do anything on behalf of the democrats and really told the line, get close to the border of ethical on both sides. he can go up there and for lack of a better word, live which is ultimately what i think you did. stuart: heavy duty spin, i'll call about. it pulled from the new york times finds trump way ahead of the other republican presidential candidates. fifty-four trump, onto santa's 17. question, how could the upcoming debate change that?

>> i dunno, i think it's going to change, it's going to change to infinity because if you are saying you vote for donald j trump, what does he say that's going to get you to not vote for him? i can't think of a thing. if your undecided, you're probably not voting for donald trump to begin with and your vote will be one of those individuals so i don't think he has a lot to gain and even if there are people's ways to vote for him, does he meet those people? i think it's a smart move, i'd like to see him debate but looking through his perspective makes no sense, he's picking a vp based on people perform. stuart: trump feels so good about his chest chances, he's talking about his potential vp pick. he's going to look to the debate. >> which would imply he's not going to participate he put on truth social, i'm going to watch

the debate and that could be how i narrowed on who will be my running mate. fox is hosting the first debate and august 23, this is who is qualified based on fundraising and polling. governor ron desantis, david, solomon, chris christie and not mike pence and not another candidate off the top of my h head. stuart: trump is not saying he's going to -- >> is that a good look? >> i think desantis will hit trump but the fact vivek ramaswamy will be policy, policy, policy. >> is like a number two, i'll be your running mate. stuart: that the debate we will find out then. it's time we went to the market, seven minutes on politics, we better do markets. don maybe 100, nasdaq done maybe

68. mike lee with us, we've seen some solid gains over the last four or five months, is going to continue to the upside? >> i think so. you have a huge divergence between the economy and overall market and a number that came out was the amount of cardboard boxes that, this quarter was on 3% so the economy, i think there is a huge divergence between the economy and market but there's five and a half trillion dollars in money markets so if we do have any meaningful selloff, i'd imagine that will be stepped in and brought. stuart: a tip would be a buying opportunity. we've got apple and amazon reporting, i think thursday. am i right saying you want amazon to miss so that it goes

down so you can buy it at a lower price? >> a week ago you have great earnings and the market is not enough because the stocks have gone so far so much. they sold off almost 10% in close to 30% from their and from amazon i'm thinking around these evaluations, it's good opportunity to add to position or getting because amazon is not going anywhere. stuart: amazon, you like it, he wanted long-term. >> apple will have to come up with another spectacular quarter but it's so big it's like this big block, i can't see it selling off dramatically. you got this user base and upgrade cycle is perpetual going forward in addition to their

services division, air pots and watches, apple music and apple tv, a great series right now called hi jack, i recommend it but 3 trillion-dollar company, it almost is the market so i hope applebee's and the market takes it. stuart: lead the list of big tech on the screen, would you say -- long-term investor, you've got to have a piece of all of those stocks for the long term, would you say that? >> the one i'm least enthusiastic about would be meta or facebook because stock has more than tripled. google in my opinion were off a bit is the cheapest, i like google and also but but these are the leaders in ai, these companies are so big they have moved around the. they are not going anywhere yet and there you have it.

stuart: formally super bowl currently not a bad bull. going in the right direction. your all right. coming up, the gop mega donor not too concerned with media attacks on desantis. >> what we had, let's be fair, mass amount of media attacking the government because they view him as the biggest threat to joe biden. stuart: we will get into that one. onto the latest attack on the fossil fuel industry, the socialist want the department of justice to to big oil. a report on that coming at you next. ♪

♪ stuart: i like the rhythm of the song. you are looking at snow hill in maryland, 74 degrees, real nice weather up and down the eastern seaboard. senators worn and desantis to sue for misleading consumers discrediting climate science. the horror. however the oil companies responded? >> there asking to lead by example, give up their gas powered motorcade vehicles, but really democrats in the senate are looking for someone to blame

for this sweltering summer heat so playing oil companies. the companies are driving up the thermostat to record-breaking and demanding attorney general merrick garland sue those in the fossil fuel industry what they say is a coordinated campaign to deny and discredit so-called climate science to make money. the senders saying the actions of exxon mobil show and other fossil fuel companies represent clear violation of federal racketeering laws, truth in advertising laws, consumer protection laws and potentially other laws and the department must act swiftly to hold them accountable for unlawful action. exxon mobil decline, and has not responded to our request because in the oil industry. tim stewart telling fox these four centers never once themselves voluntarily given up the use of fossil fuel or any

product made by the chemicals they despise and until they give up that travel, guesthouse, air conditioning, computers and cell phones and 6000 others, the public should take the letter for what it is and a series time to implement something the senate hasn't been able to implement. stuart: thank you very much indeed. look at this headline, biden's crackdown on another appliance will be worse than gas stoves. then is with me now. you're talking about a cut in hydrofluoric cards that makes air cold. he says it's a disaster. spell it out. >> gas stove regulations have gotten the attention but there's bad regulations in the works for almost every appliance in every room of your house and air-conditioned regulations may be the worst especially during next.

you mentioned hf sees, closer refrigerants used in most home air conditioning's. the government is restricting the amount of these hf sees that can be produced. if your air conditioner springs a leak and needs recharged which happens millions of times every summer, it's going to cost more and restrictions on the amount of refrigerants available will go up sharply in 2024 so we can see a big jump in the cost of repairing existing systems and at the same time other regulations are boosting the cost of buying a new air conditioner. stuart: will be any good when you've got new standards in place? in reminding -- washing machines, dishwashers, toilets. when they change the rules, they don't work as well as they used to. same with ac? >> that could go up, cost go up in quality could be undercut. choices are reduced, always bad news for consumers when the

government steps in and starts micromanaging. stuart: pistol legislation, is there? bureaucrats in washington latest down and we have to obey. >> there is legislation but the regulators are running with that and making the worst of it. stuart: in new york we have to get rid of natural gas, is that accurate? is going to cost us. >> the first step new york is doing is ban natural gas hookups for new construction and that's bad news even for people in existing homes and apartments because soon enough utilities will be able to survive without new customers so that could spell the end of natural gas and availability new york and across the country we see efforts to wean americans away from natural gas. it's part of the climate change agenda that puts the environment

or environmental concerns ahead of the best interest of consumers. stuart: thanks for bringing this to our attention. we consider ourselves warned. in his push to reduce co2 emissions, john kerry is targeting farmers. any idea why he's targeting farmers? >> i've got an idea, we are going to listen to john kerry with a comment is getting him in hot water first before extrapolating on him. >> agriculture is about 32% of all emissions in the world. we don't get this job done unless agriculture is front and center part of the solution. you can't continue to both on the planet while expecting to defeat it, it doesn't work. reduce emissions from the food system. >> republican representative of illinois told him attack

americans, nothing to see here, just hypocritical damage wanting to bankrupt every farmer in america says ted cruz and others claim he's willing to start people together to net zero with comments like no food for the peasants. let's talk about what we are talking about here. you cannot survive without food, let's be honest. we can deal with the things happening to our planet, a slight increase if you believe, we literally cannot survive without food. these individuals to continue the block from earlier, they do not practice what they preach. they are going to eat have their kids eat and they want policies that will lead to hunger. it's amazing these words are coming out of my mouth but it is real and scary. stuart: you should see what they are doing to dairy farmers in new zealand and as a political movement is starting to oppose this with political power.

i hope he comes to america. thank you very much. check futures, former time. six and a half minutes and paired some of the losses and we would be back with the opening bell. ♪

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futures suggest selling of the opening bell not that much, down 60 or 70 for the dow. analysts angelo who follows looper. a good report, prices hit $50 a share. i believe that is your target price. are you raising the price above 50? >> we raised our target price to $60 a share and you are right, the results were extremely good but what it came down to was profitability and the ability to execute which they did and it translates to above expectations on the free cash flow of higher

target price reflects expectation for improved profitability and free cash flow as we migrate into 2024 and 45 given who was extremely scalable business model. stuart: what changed? the stocks then depressed for a long time moving up recently and now with got a pretty good report, what changed? >> i think largely this is a big debate for years now in terms of uber and ridesharing market and what uber has been able to do the last couple of quarters especially this earnings report is the fact that what they been saying for years, have trust in us, we can scale this business model and show significant profitability of the small and that is what has changed. it operates expenses and check

over the last year and essentially the last three years and if you look at the last 12 months, operating expenses have gone down. it's rose 50% year-over-year so what's changed is the fact that they been able to hold expenses and check continuing to grow top line extremely aggressively and they continue to do that here over the next couple of years and they are seeing greater expansion into the advertising space which most people know is a higher business for the delivery side select helping the profitability side. stuart: full disclosure, i bought uber stock couple of weeks ago and am pleased to hear you have a target price of $60 a share. thank you for being with us this morning. big day. jumping up and down wall street, it's august the first already. we are up and running, the dow is dead flat.

four, that's it. i will, accidentally dead. the mixed market, ten on the upside for the dow 30, 20 on the downside. s&p 500 has opened, that's opened -- down a third of 1%. look at the level, 4000574. nasdaq composite, 14000266, done half a percentage. big tech down, apple, amazon, microsoft, medic, also but on the downside. biggest loser is also but. take a look at caterpillar, they reported this morning and they are up -- what are they doing right? >> i guess they are doing right raising prices on almost all equipment and consumers are buying back and most expensive equipment at that so we will raise the price and pay it in the premium model, you will buy

those, too. it's what the economy might be doing right for caterpillar and multifamily residential construction make industrial factories, they supply the equipment, the doctors and turbines racked up. stuart: doing very well today, with got that. we have pfizer, i think they are done. >> covid. that's what went wrong. they cut their sales. huge demand decline further products which include paxlovid. net income fell 77% and revenue fell by more than half. stocks flat on that. stuart: it's been years i've been asked to wear a mask. tesla, i want to see where they are up and down, down 1%. >> they have a big rig charging project when established, this charging station from the south

of texas to the north california. asking the state of texas to help federal grant worth $100 million to build out this infrastructure to basically electrify partial delivery. stuart: that would make a really big difference. charging stations, big deal. vp, i know they raised their giving but they have a tough report. >> raising the dividend and expanding buyback are overshadowing this report where profits fell 69% much worse than exxon and chevron, they would on 50%. we are talking 70%. he raised 10% in the next one and a half billion share back so that the commitment to shareholders. stuart: investors love those buybacks. i know that amazon launched -- a health clinic, it's really telehealth, they did that last fall. >> they are launching it nationwide so elect you connect

via video or text with a provider. amazon doesn't provide medical help, they provide the connection between the doctor and patient for common conditions only, take action for instance. amazon's pharmacies can fill the prescription so another extension of amazon's push into healthcare. they struggled, think of the data they have and now health metrics and they can service you with telehealth and pharmacy. stuart: rely on servicing and milking it so to speak, a regular flow of income. >> all the different tentacles and getting bigger. stuart: if i go to a self checkout at walmart, like it adds stress that me? >> everyone is checking themselves, you don't care, i find annoying to have to check yourself out but i've gotten used to it. when you are checking yourself out, you might see some ads on

the screen. what about if i told you they were bringing in sample stations on saturdays? that would be awesome just like costco and brands sponsor the sample station or they put tvs throughout the stores and you can see ads and 32nd ads over the loudspeaker. walmart has 47 u.s. stores speaking of avenues of growth, trying to beef up how much money they bring in. stuart: it's wonderful. >> like little hotdogs? then there. or if it's q-tips, what am i going to do? stuart: your entire report is all good. if i'm a walmart shopper, i love these extra things and don't care if i read and add at self checkout. >> i'm a little annoyed about self checkout in general because you have to bring your own bags, take yourself out. stuart: the horror. >> put in your bag, figured out

and pay high prices. stuart: you like bringing your own bags. >> i always forget it. stuart: save on the plastic stuff. mr. environmentalists. >> the bags carry a lot of germs, i hope you're happy. >> you're going to pack up and check yourself out and pay the bill. >> a bunch of 3-year-old in tow, he's doing it saturday was to those of his thing and there you go. with got kids crawling all over us like shut up. stuart: head of human resources, at&t leaving -- so what? >> she's leaving in the midst of at&t cutting 74000 plus positions in the past two years and announcing $8 billion in cost cutting. triple swimming basis at&t, slowing subscriber while the subscriber growth, debt from the

acquisitions and now the lead pipe cleanup will be costly. >> $14 billion a share, not good. this is now just over six minutes. the dow up 73 points. 35600. whose top of this list? caterpillar of course. 4.7%. s&p 500 winners, global payment -- i'm not sure i know -- caterpillar is on that of course. move on to the nasdaq winners, topped by serious xm radio up 5%. cisco systems, none of the huge names are on these lists as we speak. coming up, president biden claimed he never knew about hunter's business dealings. we'll take. >> i've ever discussed my business or their business, my sons or daughters.

>> have never spoken to my son about overseas business. >> i've never discussed with my son or anyone else anything to do with their business. stuart: after the testimony, and we ask, did the president like? look at this, schools slavery language distracts from how far we've come. jack brewer wrote that and as far as race is concerned, how far out have we come? gas prices it an eight-month hi, is that bidenomics at work? larry kudlow on that, larry is next. ♪ /hir

in president biden looking to tackle student loans again after

his original plan was shot down by the supreme court. edward lawrence with us, what is the president new plan? >> by house announcing another change to a program called saving on valuable education and limits the amount of student repayment for the old so the open allowed students to pay 10% of their income as a student loan repayment. the change annexed makes it 5% of their income so the loan does not go away and the people about poverty line, it extends the money they have to pay back and years they have to pay it back for those under the poverty line, it runs into another forgiveness plan were after a certain amount of years the loan is forgiven whether delinquent or not so critics of the president's student loan plans say it does nothing to change the underlying problem about the affordability of college. >> colleges get the money and no obligation to make sure students are doing something to earn that

back again the transparency, lack of it and student debt, credit cards get more information about what you owe, same with mortgages. he tried to find out your student loan situations, not easy. >> repayment start september 1 with inflation under the biden administration and try to minimize the cost of repaying the loan so the budget model says the original plan would cost taxpayers for $75 billion over ten years. the changes announced would increase the cost and department of education spokesperson tells me students can go to student aid got the and apply for beta testing of the change for the repayment plan. stuart: the key trying to get the student loan planter. stuart: gas prices keep on climbing the national average is $3.78 a gallon, up 3 cents

overnight. fifteen cents higher than a week ago. larry kudlow with me on this. is this energy policy act work, rise and gas prices? >> can i just say on last segment, all of these biden plans are aggregating the supreme court decision. the supreme sent you do not have the authority to cancel student loans. i don't know what is so hard. you speak english, you do it very well. i work on my english all the time. the supreme court speaking very well and the supreme court writes english very well and i don't know what the biden administration doesn't understand. if you pass congressional law, that's different. right now they have no law, no authority and executive branch is overstepping and here they

go, they may talk about democracy but they are undermining the third branch of government, the judiciary, also known as supreme court. what is wrong with these people? stuart: they understand, political imperative. they've made a promise to youngsters students and they've got to fulfill that because they want the votes, it's a buying vote. eventually they won't get away with it but they will try, why not? in we look -- exactly. gas prices going up again, is that bidenomics? >> short because bidenomics hates also fuels and the rig count is way down so drilling and fracking is way down so we have a supply shortage i would guess, somewhere around 3

million barrels a day which is what estimates were a few years ago before joe biden started this. crude oil is up to about $81 i think on -- there is on the screen. i think 85. that's a 15 to 20% in the last month or six weeks and i'd talked to because it will impact the top line of the cpi and annoy motorists bad for joe biden's future. stuart: desantis unveiled economic independence. i'm sure you've seen it. watch this the, please. >> our country is in decline right now. we see it in terms of economic decline and i'm running for president because we cannot be satisfied with simply managing this to climb a little better

than democrats. i'm running for president because we need to reverse the decline of his country and restore our country to the greatness it deserves. stuart: you helped write the truck plan, what do you make of the desantis plan? >> i've been reading about it. part of it are kind of a direct copy of donald trump speech in 2016. trump has a side-by-side, it is amusing so part of the writer comes out of the original trump plan but 3% growth is good. english and i were talking last night three and a half% growth is even better, that was our historic but desantis is on the right track. i like full expensing for new equipment scenery, that's in the plan. that is part of trump's original tax cut plan. i like his attention to a strong dollar. he says that in a couple places.

i think that's pretty good. what i don't like is a bunch of attacks on corporations and leads and subsidies in their. i forget -- strategic tax abatement, industrial planning. that's reminiscent of his fight with disney which was a woke fight but also using state power to attack corporations which i don't like so i don't know enough about the plan, i'd love to talk to governor desantis about it. i've said many times he's a good conservative, a smart guy, florida has a good track record. he does not have strong economic growth agenda but this is the beginning of a good economic agenda so d+, let's hear more. stuart: but we both agree on is we need growth.

larry kudlow, we will be watching you for p.m. eastern on foxbusiness. coming up, it's time to look at climate policy because what we have now is not working. that's my take coming up at the top of the 10:00 hour. camping outside in new york city. the hotel is jampacked full. where is the white house on this? a report on that next. ♪

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hundreds of migrants continued to arrive everyday in new york city and president biden's solution is to offer the liaison between new york city and the white house. madison alworth with us. that's it? >> that's it to say they are disappointed is an understatement. a shelter and migrant intake center, if you want to stay in your housing in new york, come through here.

the issue is hundreds of migrants arriving each and every day and they are at capacity, completely full and some migrants are forced to sleep on the street. the line is wrapping around, this is something the mayor of new york city is a it will soon be the case coast to coast. >> eventually this would come to a neighborhood near you having someone embedded, want to take home and security but i want to be clear on what we need. we need to control the border. we need to call a state of emergency and properly fund this crises. >> this liaison came about because in an effort to look for mayor adams met with home and security in all under mayorkas last week, they got dhs liaison base here and strengthen communication between city hall and biden administration but with 90000 migrants arriving in

new york city since last spring, they are sleeping on the streets, elected officials say the message the biden administration is sending is clear in. >> going to give you a program that will that migrants coming into your city to speed up, we are not going to do that, we'll just give you a liaison, are you serious? >> new york city received from fema. it will cost 104 million, it only covers 13 days of migrant care. democrats are upset that is the message and the way democrat run city is. things have gotten so bad, sanctuary city status. they are going to do so, so we will see what happens. stuart: thank you for joining us for the hour, still ahead, jason

chaffetz, pennsylvania congressman scott perry, and jack brewer. 10:00 hour is next. ♪ .. living with hiv, i learned i can stay undetectable with fewer medicines. that's why i switched to dovato. dovato is a complete hiv treatment for some adults. no other complete hiv pill uses fewer medicines to help keep you undetectable than dovato. detect this: most hiv pills contain 3 or 4 medicines. dovato is as effective with just 2. if you have hepatitis b, don't stop dovato without talking to your doctor.

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