include in my 91-year-old aunt brandy such a fantastic way to get out there and get moving and have fun and it's amazing how it's swept the nation. it seems to be a trend that grows and grows and now there's professional football players. >> it's more like ping-pong on court the tennis? >> that's when told. i to play tennis, i'm not going to brag about my tennis game but ping-pong, i do have been there so i hope to synthesize the to get on the applicable court s soon. >> happy pickup all day. great to have you this morning. varney & co. picks up here. >> good morning. developing financial story, appears to be hurting the market. who's because the writing on ten thanks. big names are being put on a credit downgrade watch.

having trouble managing their own investments as interest rates rise. now bigger banks are on the downgrade watch. reaction to that on wall street is a lot of selling and i think it's why the market is down. 250 on the dow, 113 on the nasdaq, s&p down 31. interest rates are down. the yield on the ten year treasury slipped below 4%, it's right up 4% now. the two-year yield is well below the 5% mark, 476 today on the two-year period politics from a blockbuster report from fox digital. eric, hunter biden's money guy was a frequent guest at the white house and then vice president residents. thirty-six visits between 2009 and 2016. fox digital puts it, biden's narrative never discussing business deals with hunter continues to crumble.

today the president is on the trip to arizona and new mexico pushing his green agenda. we will bring you the story of europe were green policies going in reverse. donald trump gets into it with megan, he blames her and wokeness for the women's teams early exit and says teams losses emblematic of what's happening to our once great nation under crooked joe biden. could this be a bud light dylan mulvaney situation? tuesday august 8, 2023. varney & co. is about to begin. ♪ stuart: start me up.

we will start with moody's cutting the raining of small u.s. banks putting some on credit rating watch. lauren, take us through. >> cut the credit ratings by one notch on these ten banks including pinnacle financial, prosperity. they are smaller to midsize banks and warned they might cut ratings on these six bigger lenders. u.s. bancorp, state street, truest financial. why? slowing probability and office space exposure. work from home, less demand for commercial real estate moody's says mild recession early next year end the big picture for the banks is tighter credit standards, weaker loan demand, and economy slowing down. stuart: david is with us this morning. you know like this credit down

right watch. the reason the market is on this morning. >> the nasdaq futures are down more than the futures, note these agnostic, these are small regional banks. truest is about 16, 17% higher than two months ago. i think the rating agencies are so over-the-top, how late they are reporting march news. stuart: the moody's story is not the primary reason for the stock selloff. >> definitely not nothing more than the fact that mark is a 400 points yesterday, down last week and volatile moment because the market is at a good earnings season and leaders take money off the table. stuart: we got china drastically slowing. >> that exports fell steepest since february of 2020, a global

slowdown we are seeing. stuart: china slowing down, does that hurt our market? >> that's a sustainable story, not one or two days. if china tries to export deflation to the world like japan and the united states is trying, that's a major economic story. stuart: italy was to impose 40 sent tax on think texas profit, is that a negative for wall street? >> do they have banks that have profits? [laughter] the european banking system is a disaster for ten years but that would be a bad thing for europe so probably is something they will do. >> they are there at the beck and call of the government, it feels like not here sometimes. stuart: with us for this hour, that you, thank you very much. more republicans qualified for the first debates. the latest? >> mike pence, he joined seven

other republicans including donald trump qualifying for the debate and of august. mike pence says after finally meeting the donor requirements, not only for this debate but the next round september 27, he says we are not during kickbacks or gift cards or giving up soccer tickets poking fun of the other contenders so if trump does attend, expect a face-off regarding january 6. pence cooperating with the latest indictment about election interference. stuart: you are itching to get into everything, onto? >> i wonder if this could make trump participate. stuart: i would love to see him in the debate. there you go, hunter biden's number business partner eric made 36 visits to the white house. charles hurt with us this morning, it seems the walls are

closing in on biden's denial talking business with hunter. >> it's getting really bad, impossible to defend the light that joe biden has been telling for years and beyond dispute, the endless tape shows joe biden repeatedly saying never discussed his dealings with his son and we know it's a lie but what is interesting, eric swearingen says the only the white house they lied about how he came into the white house into the vice presidents residence when joe biden was president but it could be more than 36 visits and the explanation is if you are a personal fitter visitor to the family you don't necessarily have to report your visits and because according to members of the biden family eric was the

personal finances of the entire biden family, he could go under the radar and it could be many more visits and 36 which is amazing. i definitely think these people were handling the biden's family's personal finances. stuart: it sure looks like you. let's talk age and politics. president biden joked about his page while hosting world series chance has to. [laughter] it wasn't easy, your past your pride. i know some of that. [laughter] stuart: that was funny, i'll give him that then an event in kentucky over the weekend the crowd booed and heckled senate minority leader mcconnell and called for his retirement.

[chanting] [chanting] stuart: kind of brutal. were looking at generational change in both parties. >> one way or another it's going to be generational change. painful to watch mitch mcconnell has been around for a long time, 40 years in the senate. others have been the even longer so one way or another we are seeing generational change in a short bit of time but i got to say i agree with you that was funny, joe biden may have had the funniest line, the funniest line of her hit since he's been in the white house, cheering for dustin but i think that's an insult.

he 74, is a young sprite 74 and also, could you imagine putting joe biden in charge of a baseball team? dusty baker accomplished something extraordinary whether your 74 or 34, what is accomplished is amazing so i think -- joe biden dropped off dusty baker, i don't blame him but it's unfair. stuart: i'm going to leave myself out of baseball coverage and stick to politics and money. thank you for being with us. the federal judge overseeing trump's classified documents case dealt some close to special counsel jack smith. lauren. >> this is the trump appointed florida judge and the prosecutor wanted an out-of-state jury and wants to know why, what is the legal propriety here when event happened in her district? is the first law and the second is she rejected jack smith secrecy through sealed filings

so to close dealt by her to the jack smith investigation. stuart: we better check futures because the gains of yesterday are evaporating this tuesday morning, data down to 60 at the opening bell. nasdaq down 160 points. coming up, is the war on will that? poll shows republicans are more interested. do you remember when president biden was obsessed with the chaotic afghan exit? watch this. >> extraordinary success of this mission was due to the incredible skill, selfless courage of the united states military and our diplomats and intelligence professionals. stuart: well, gold star families are calling for biden's resignation. we have the emotional testimony and decorated green beret waltz after this. ♪ ♪

♪

goli, taste your goals.

♪ stuart: imagine dragons. put him on the show ten years ago. ♪ that song is america, jacksonville beach florida. a beautiful day. 85 degrees. the futures market is anything.

yesterday's gains abolished, gone, gone to 50 of they're down, down 115 on the nasdaq. gold star families slamming president biden over the afghan withdrawal. lauren was looking at it, emotional testimony. >> those families of the 13 service members who died in the catastrophic withdrawal two years ago, they want answers, they want apologies, they are not getting them. >> incompetent, carrots, evil. i want justice. i want accountability. when joe biden elected president entered the room, when he approached me, his words to be worse my wife and i know how you feel, we lost our son as well and brought them home in a flag draped coffin. mice heart started beating faster and shaking knowing their son died from cancer in they were able to be by his side. >> admit your mistakes, learn

from them so this doesn't happen ever again. oh need to resign immediately. our sons and daughters of more integrity in their little toes than everyone of them combined. >> the mother with the long hair who says the president and first lady told her they knew what it was like to lose a child, that's not true. bo died in the hospital surrounded by his family. the other thing i do know, the 13 service members died but seven others committed suicide because of what happened on that disastrous day. stuart: my goodness. thank you very much. mike waltz joins me now, decorated green beret. congressman, should anyone on the biden team resign? >> i am so thankful to fox for

showing that hearing as long as it did and these families are vitally getting to have america hear the story. i've dealt with gold star families my entire career but i've never dealt with a group of gold star families that are so angry and feel so betrayed as this group does so yes, i've repeated give call for secretary of state blinken to resign over this debacle. the state department was in the lead for the withdrawal, they made a whole series of mistakes and now we know things to republican investigations and asked that the democrats on the ground sent a formal dissent cable predicting what was going to happen in terms of the collapse they continued on this trajectory yet he continued on course and joe biden declares it success. one more thing, these families still to this day are missing

details or feel misled about details how their loved ones died. some still have personal effects they've been asking for and as you saw, the most insulting thing is they haven't heard from the president since the withdrawal and to hear him declare this is an outstanding success is a knife in the back every time he does it. stuart: nancy pelosi was asked about the possibility of a second trump term. this was her response. don't even think of that, don't think of the world being on fire. it cannot happen or we would not be the united states of america. if he were to be president, it would be a criminal enterprise in the white house. would you like to respond to that? >> what is scary about that statement is whether it nancy pelosi, the democrat party, the

mainstream media or key people in the department of justice convince themselves trump is so bad and so much of us threat, and justify the means whether it's realistic integrity, integrity of the justice department using impeachment and weapon rising impeachment that historically rarely happened in american history, now they did it without true investigation so i guess they've convinced themselves he's a threat to democracy but they are taking actions that is undermining our democracy and ruining, crushing public trust in basic institutions like the fbi and department of justice. stuart: i think this is trump hatred still with us and it blinding so many people to the reality of the administration.

>> derangement syndrome and i can't even have a conversation about policies or right or wrong direction of the country, they won't -- they just get blinded by their hatred of him. stuart: thanks very much for being with us so often, always appreciated. thank you. ron desantis has a warning for republic is about the upcoming election. what is the warning? >> an interview with nbc and ron desantis said trump lost, he said it clearly, trump lost 2020 and if the country keeps focusing on trump and his legal woes, republicans will win, lose again in 2024. >> if the election is a referendum on joe biden's policies and failures we've seen and we are presenting a positive vision for the future, we will win the presidency have a chance to turn the country around. if on the other hand, the election is not about january 20, 2025 but january 6, 2021 or

what document was left by the toilet at mar-a-lago, we are going to lose and that's the reality. >> trump is where the oxygen is right now so 2020 arguably about the basement, 2024 is about the courtroom. there are at least five trials set to take place during campaign season, october and m may. stuart: dying to get into this, what do you got to say? >> 2015 and 16, president trump was running at the time based on grievances right or wrong, captain to certain american people. he's campaigning on his grievances right now and governor desantis is right, there's less motion for what's happening to him that there would be for the american pe people. you have to focus on president biden's policies and forward vision for america and i've heard you say the same thing. stuart: i have indeed over the years. quick check of futures. a lot of red ink, down 200 on

the dow, 100 on that aspect after yesterday's solid gains. we'll take you to the opening bell right after this. ♪ who lives here. ♪

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futures pointing path, about 200 on the long, 100 on the most this tuesday morning. david nicholas with me now. let's get into this, you have an extraordinary dividend play related to tesla. etf, tsl why. what does it pay? >> i've got one here, this currently faces 64%. tsl why etf replicates tesla stock and sells short-term against the stock so the desk cap appreciation but it produces a mind blowing monthly dividend of 64% so we love it and i think it could be a good addition if you look for income and set up a for legal.

stuart: 64% dividend blows people away. what's the risk? is it secure for six months? >> whenever you do call selling, the risk is give up appreciation so you have to be okay with that. this limits appreciation of tesla to about 5% a month so i'm one of the biggest tesla poles on your program but they are near requirements, you can own a stock like tesla if tesla stops going on, you going on with it but if it goes up, you give up appreciation in exchange for the dividend but it's a mind blowing 64%. stuart: i have to move on because i have david with me and he's a dividend guy lessee what he has to say about 64% dividend on tsl why. >> i wrote a book called there's no free lunch and one of the most important rules for investors to remember when it comes to investing is there's no

free lunch, no free 64%. the premiums among the calls go down dramatically right now they've been big income but the stock is gone from 21 to 13 to 18 to 133 or four times in the last few months so 40 to 50% volatility and there's no such thing as 64% dividend on gods green earth that's safe and protected and investors have that. stuart: we got an interesting debate going here. as i why 64%. yes or no? the market is about to open. one of these guys going to reach forward and pressed the button. do it. the dow jones industrial average is expected on the downside. more than half a percentage., 200 down and i would say three quarters of the dow 30 are in the red.

the s&p 500 this morning, to the tune of another half perce percentage -- there we go. back to nasdaq, down .83%. shelley big tech, i presume most of them are down again except for apple still below $180 a share. medic, also but, microsoft, amazon on the downside. some companies reported before the bell this morning including our parent company box corporation. >> it's up 4%, advertising is coming back in a big way. advertisers are still cautious but appear willing to buy slots on dominant networks like fox. add revenue at just over a billion dollars, overall avenue at $3 billion. stuart: i was looking at eli billy earlier and saw a solid gain and still 11% -- why? >> all-time high, the new buzzy

diabetes drug, popular for weight loss. just give an idea of how successful it is, $980 million in sales versus 16 million a year ago when it was first introduced. 16 million 2,979,000,000. stuart: i'm sure they will take that. you aa. >> at leisure, stock is up slightly. the issue is they were probable, north american market is challenging because there's lots of competition. nike, lululemon, you name it. stuart: ups. >> stock had been down 7%. there's a call going on and the ceo said we experienced more volume diversion than we anticipated. they cut their full-year revenue and full-year margin forecasts because of the labor deal they reached management says on the

call that labor contract is a win win win. analysts are bringing warning bells about it because of the cost of the labor deal which still has been signed, sealed and delivered yet but they reached an agreement. stuart: it was down 7%. a modest comeback. all right, my favorite, beyond meet. huge decline, still down 20%. tell me more. >> u.s. sales fell 14%, height inflation. beyond meet is expensive. pushing shoppers to make decisions. what kind of protein are you going to pick? real meat as an corporation prices are getting cheaper. overall in the quarter beyond meet revenue fell 40% $220 million. stuart: laughing up a storm, what you have? >> the entire revenue as a company is about mcdonald's on sixth avenue did yesterday. this is a fact, the stock at

160, now at 12 and going to z zero. they blow money up, to see 57 million a quarter. never seek to sit just like t this. the more they grow the more they lose. it's been a disaster. stuart: they are saving the planet, come on. >> you could argue mcdonald's is as well for some. stuart: let's get serious. big game. the obesity drug. >> look at the stock go up, data shows it minimized the risk of heart attack and stroke by 20% the it expands reputation being a vanity job. i thought the money and buzz was weight loss but could be real putin of consequences, too. you got a win-win. stuart: we go again. the electric vehicle market. lucid, not much, 3 cents higher.

>> they maintained their full-year production targets even though they badly missed on earnings in the quarter and revenue also missed, cutting prices by 12,000 on the very expensive vehicles because everybody wants to take market share away from tesla. stuart: what else do we got? i lived on the prompter. down 7%. i thought they had a good re report. >> they did but the ai transformation, how they use a i will take investor patience and while they are growing, the growth rate is decelerating. they do a lot of business with the government, government clients revenue rose 10%, great that the first quarter. 20% from a year ago so growth rates are slowing down. positive news, it might have turned higher, the board approved first ever one billing dollars share buyback.

stuart: helpful but -- >> i think they would rather buy back shares 16 then 20 but be careful using a i language for marketing when there isn't a real a business. stuart: tim horton and burger king, restaurant brand up nearly 2%, a good report? >> it's because of burger king. they made multiple millions of dollars in the technology, they had a special spider-man proper and it paid off. burger king 8.3% importance change, we are addicted to coffee. stuart: one of the reasons we have david regularly, he's a good artist and he brings in dividend place. i've got money from that myself. first off, lamar advertising. >> i want to bring one company that had a weakness, contrarian stocks may be at good value,

lamar had a decline in revenues last weekend stock dropped but this is billboard advertising, the largest in the company. political act season next year, a good season for the 5.8% dividend. stuart: $8 a share. >> they grow year-over-year. stuart: >> great numbers last week, 9% revenue growth, stock is up quite a bit. no less than nine drugs last quarter at an all-time high and revenue nine drugs at the all-time record in terms of gross sales. a great dividend grower for us. stuart: what today have? >> 3.5%. closer to 4% 3.9, by far the best hiv treatment in the world. now they are getting into oncology doing great things with cancer. 30% of their business by the end of the decade. stuart: got it.

thanks. coming up, singer neil is not scared of getting canceled. he called out his publicist for releasing a fake apology for comments he made about parents of transgender kids. watch this. >> first, i do not apologize for having an opinion on this ma matter. hear from the horses mouth, not the computer. i'll never be okay with allowing a child to make a decision that detrimental to the life, i will never be okay with that. stuart: with got more on that where that came from. president biden in arizona today to cap his crime agenda but opal shows most disapprove of biden's handling of the climate issue. is it time for a policy change? larry kudlow on that next. ♪

check out walmart at $160 a share, a new all-time high for the second day in a row. president biden is going to be speaking in arizona today. was the main focus? >> climate. phoenix had ten straight days -- 31 straight days with temperatures of 110 or higher. tomorrow is in new mexico, thursday utah. those three states combined received $11 million in government funding through the inflation reduction act. stuart: so that's what is talking about. a new poll shows 57% of americans disapprove of biden's climate policy luke was here. larry kudlow. it occurs to me we need a new

and different climate policy. >> i think you are right. there's no question about that one gasoline is coming back to $4 a gallon making people very unhappy. there's a great story as ford loses billions on ev, the company embraces hybrid so port is going the way toyota is going because they don't want to rely on gas, honors. the other story in the journal this morning. stuart: i'm going to ask you to hold on, i don't know if you can hear me but hold on, you've dropped here mike and i believe you will find your mike on the floor -- there you go, look for it. if you clip it on -- you're not wearing a tie. maybe put it on your lapel

jacket. are you ready? >> how is that? i'm ready. stuart: terrific. crystal-clear audio, the way it ought to be. okay, we are not going to get a new climate policy but what policy would you have if you are president of the united states? >> one thing i would do of the top is reclassify natural gas as a clean burning fuel. that's what i would do. even-year-old has done it. good friends in europe has done this. stuart: are you trying to associate me with socialist? [laughter] >> that would bring down electricity prices and make all energy so much cheaper. apart from biden because of this

switch into natural gas the last 20 years, the united states has the greatest volume of declining carbon emissions. we are the big winner in decreasing carbon emissions and how much of that is a function of clean burning natural gas which can be used for electricity and just about everything else. instead, the biden's war against all also fuels. they don't want you to have gas burning stove, they want gas burning heaters. you have to take a cold shower in the morning as they get this thing done. they don't want gasoline powered automobiles. i was going to say this -- to to john, as ford loses billions from a electric vehicle company embraces hybrids. ford is going the route of toyota, here's another one.

"wall street journal", wind industry and crisis as problems mount. more than 30 billion in spending is delayed as setbacks pile up for renewable energy sector and finally, because of their crazy were against fossil fuels, energy prices of 33% since he took office including 42% gasoline and 25% electricity. you can't use various appliances because they are restricting that because of epa. they stopped drilling, giving a hard time on private lands. two or 3 million barrels a day short. this is a total utter failure. bidenomics equals war against fossil fuels equals total failure. stuart: a little later in the

show, we will determine what europeans are doing, they've reversed course in many areas. we will be watching you for p.m. this afternoon on foxbusiness. david bahnsen is still with me, what do you think of biden spring policy? >> i agree with everything and i've been on this for some time. reclassify that as clean fuel, would do a world of good and export liquefied natural gas, seven terminals built in the country that can export. not just environmentally superior policy but economic growth, the amount of jobs, well-paying jobs, people don't have college degrees, six-figure jobs to build terminals to export gas and geopolitical benefit, putin and russia and middle eastern enemies when we are exporting gas. stuart: in new york state underground in new york state, there's enough natural gas to

fuel the world. >> new york state in california, both of the states are the most stringent from happening. the states i call home so what does that state about me? stuart: you should move. coming up, there is a patent. use the machinery of government, use anything got to be the challenge. that's going to be my take the top of the next hour. havoc up against the eastern seaboard, 1 million people out of power. we have the latest on that right after this. ♪

goli, taste your goals.

him him. stuart: deadly storms hit the eastern seaboard destroying homes, knocking a power, katie burning westminster marilyn, how bad is the damage? >> it is extensive in this town, crews are spending the day clearing uprooted trees, downed

power lines, dozens of electric poles laying on the major role in westminster. people were driving on the road route 140 when the polls came down like a domino effect, 33 adults and 14 kids ended up trapped in their cars with energized powerlines all around them. the maryland governor of westmore surveyed the damage and describe the scene as dark and wet adding to the danger, some are amazed that no one was seriously hurt. >> she sees me every day she elected to see this epidemic now she's like i was literally in it. the one paul went down first. >> the storm stirred deadly in the south in anderson south carolina. a tree fell and killed a 15-year-old boy that lived in

town. a man in his 20s also died after being struck by lightning. the severe weather cause more than 10000 flight delays and cancellations by monday night, the travel troubles are trickling in once again today. if you look at some of the impacts as crews continue to restore power to more than 300,000 people and businesses across the eastern seaboard at this hour. stuart: thank you very much indeed. i want to thank david for joining us for the entire hour. you had a lot of injection points. >> i thought somewhere impo important. stuart: you did not think much of the company, the tso wide with a 64% dividend. >> i don't think highly of people believing there is an easy way to get the huge gains, investors have to understand risk be when you're in an angry mood. >> i'm in a positive mood. >> we're going to buy angie and,

gilead, long-term investors that grow cash flow for a long, long time. stuart: thank you for being with us always a pleasure. the losses are getting worse, we're down 350 for the dow, 170 on the nasdaq. here's what's coming up immediately, pete hegseth to combat units in america's armed forces. chicago passed the aftermath of another body weekend, brian kilmeade on trump and repeat no and ship roy, we have exclusive photos of armed cartel members crossing the border into a p america. ♪

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any ♪ ♪. stuart: why don't you sing along with me. lauren: i was a kid that was sing christmas carols in the backseat of my car. >> they would not invest in lessons for me. stuart: good morning, everyone it's 10:00 o'clock