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tv   Varney Company  FOX Business  August 9, 2023 9:00am-10:00am EDT

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welcome back, time for the big buzz in the morning, scary shark attacks, bitten by a shark monday at parkway beach, severe injuries to her like and still in hospital this morning. we are told she had 20 pounds taken from her leg. >> that's shocking. 20 pounds like gonzo. i've done a lot of scuba diving, i swam with sharks and i don't know how this happened. >> i'm in florida, i thought this happened only my stay. >> thanks so much, jonathan, brenda, good to see you. tomorrow we got the cpi.
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varney & company picks it up so. stuart: good morning, everyone. breaking, representative james, has the back records. it's an black and white, the money trail that links the biden family to $20 million from foreign sources meetings were held, influence peddling, money flowed. this is just developing, reaction coming in. the president goes to arizona and talks climate and see arrives, powerplant owners say the reduction plan is on google. biden gave an interview of morning news journalists may be his new strategy but did say climate change is the existential threat facing humanity. donald trump in front of his gop rivals asked a crowd of supporters of he should take part in the debate. no clear response so trump says maybe we'll try something else. we don't know what that would be. to the market selling yesterday,
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not that much blind. that will 13 points, s&p 45, nasdaq 12, not significant gains. espn buys pen gaming, bob iger ties to gambling. the stock is up $89 a share. the coin, not much change from a $29000. i tell a lie. he changed it. but going at 30,000 dollars. for interest rates, safe. ten year treasury 402, a functional game. the two-year 4.76%, he is going up a little. price of gas unchanged at 382 priscilla 30 sense. look at diesel, it's still going up. national average for 21. on the show, more pressure from
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democrats for biden to step aside. nbc democrat strategist says the biden brand has been damaged. speculation about peace talks and the royal family. harry and meghan come back. they pay for their own furniture and all is well. i can't see them welcoming her back but we covered all wednesday august 9, money and company about to begin. ♪ ♪ stuart: we are excised. we got the news. foxbusiness will host the second republican primary debate ronald reagan presidential library in simi valley, california takes
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place september the 27th. this is just breaking and it is exciting for this network. lauren is happy and so am i. fox obtained another set of bank records from house oversight committee ties the biden administration to money. good morning. >> the committee has receipts for $20 million from oligarchs in russia, ukraine and kazakhstan when joe biden was vice president. i will take you through. the committee says russian billionaire transferred 300 billion dollars associated with governor archer. the money was wired and vice president joe biden visited ukraine. the second instance, ukrainian oligarchs met with joe biden in italy and hunter biden was placed on the burisma board. instance number three, hunter met with kazakhstan oligarchs and wired $140,000 to affirm and
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vice president joe biden later with the oligarchs. stuart: this is hard evidence. he can't argue with records staring you in the face. more on this as a reaction comes in. thank you. look at this headline nbc, a democrat strategist on nbc. joe biden's friend is being tested like never before. the strategist says is not just the economy, not because people are concerned about inflation, not just because people are concerned about his age. his brain is damaged by him and those around him. liz peek is with us this mor morning. i'm sure agree the brand has been damaged. spell it out. >> i think for the past year often talking about how joe biden is a fraud and partly
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because he ran as a political moderate and with bernie sanders but on personal qualities people discovered early in presidency joe biden was maca honest man with set our country straight after four years. he lies all the time about everything so is honesty ratings a year ago began to plummet and recently the whole picture is a devoted family man came into question when his granddaughter whose five years old is basically shunned and ignored for entire life by joe biden but axios broke the story about how he swears that people and young people are afraid to see him unless they have a companion. he's not the person is presented to be and this offer is late to the party but it's obviously
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true. stuart: let's move on to donald trump, he pulled his audience last night and wanted to whether you should join the upcoming republican debate. >> so far above everybody else in the polls, going to go into the debate and if you're leaving by 50 and 60 and 70 points, do you do that or not? should i? we take a free pole. should i do the debate? [cheering] stuart: not a clear response. this is your latest op-ed. they both trump and biden dropout on the race. >> and you would be very good for the country, our country's politics are hatred and angry and the other guy is a bad guy,
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nobody is voting because they acquire the candidate but rather they hate the other candidate, that's a horrible place to be bullets look at it from donald trump, he's got three indictments under his belt, a fourth one pending and so far this year, the first half of this year he spent 40 million on legal fees and it's only going to get worse. his is a great place for our former president to find himself? if he could retire gracefully still be a market king, he be reviewed for doing what i think is right for the country and let's talk about joe biden, joe biden is on a quick path to impeachment and if the republicans take the senate next year which they may well do, joe biden places senate trial, i don't think there's question of appetite for this, his brand as you described is in the garbage
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right now. very little chance you will recover that in my view so both could walk off the stage with a little dignity and tact and makeup deal he pardons trump of all charges, convinces state authorities to drop accusations and prosecutions against donald trump and donald trump does a deal, this is the deal with publicans to not pursue impeachment. i think it's a great plan. stuart: the ultimate happening i think are slim but we are grateful. you never know. america, 2023. thank you very much. got poll numbers and governor desantis losing ground in new hampshire, single digits out.
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>> according to a new hampshire pole, yes. both at 9% and trump in the lead by 34 points. but i want to give the clear politics, average of polls, trump has nearly 54%. the back room is only at 6% in third place. the selection betting sites the places trump is the clear winner, 70 and a half% chance he wins the republican nomination. look at vivek ramaswamy tied it 9%. want desantis fall, he was number one of the end of 2022. stuart: very much, check futures, i see a little bit of green. that will maybe 20, nasdaq up 20 points. david is with me, with got consumer price index tomorrow.
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if it shows consumer inflation picking up, gas is up, food is up. if a consumer index goes up, what happens to the market? >> great to be with you this morning and good morning. if we see a higher read on the upside, will have a lot of challenges because the markets of inflation coming down, things have been looking like a soft landing if we see interest rates rise, that's the opposite of what federal receive is looking for so that tells us inflation is not done, we are not moving into this pause and reduced rates and a lot more challenges here so my personal opinion, the hard language is the strength of the united states dollar increase over the last 12 months
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but the last five months specifically watching the dollar go down and it's caused prices to go higher so if we watch the dollar reduce value and prices go higher, that's the definition of inflation so i expect the rate will come out higher-than-expected in the market will like this. stuart: we got a slight audio problem there but you're expecting consumer prices to go up a notch tomorrow and not looking forward to reaction. thank you for being here. appreciate it. trump says his legal issues are keeping his off the campaign trail. >> how can i corrupt political appointment put me on trial during an election campaign forcing me to spend time and money away from the campaign trail fight bogus made up accusations and charges?
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>> did biden deliberately use the courts to disrupt trump's campaign? will try to answer. america's power plant the plan is unworkable. rick perry on that right after this. ♪
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president biden is going to talk of his climate policy again today, he's in new mexico. the greens are not happy. they say he's not doing enough. the white house, what more did the progressive want?
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>> today the president is touting a year since congress passed inflation reduction act by letting the green agenda in new mexico. yesterday in arizona he said this. >> yes, the court overruled the. the court said couldn't do it. i want to stop on the east coast and the west coast and the gulf. there's so much going on finally, no one can no longer deny don't have a problem with climate change. >> progressive democrats freshening up pressure ahead of printed 24 and they want him to go all in on the green agenda growth is a much it costs. pramila jayapal saying we need to protect our democracy and our planet because the work of 2020, democrats passed the largest climate bill last summer investing billions in clean energy and environmental
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protections. last week the vice president harris touted new new clean energy economy causing taxpayers 13 figures so far. >> to build a clean energy economy. a trillion dollars to build and grow a new economy, clean energy economy. >> republicans are panning the white house plans claiming they hurt the u.s. economy and national security post. >> not only are we seeing the president proposed a plan that absolutely high in the sky for all these greenies but it are military and china, that plan by the biden administration. >> not sure what happened with the audio there but some progressives like elizabeth warren, senator bernie sanders say the new spending is not
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enough loving attorney general merrick garland to file lawsuits against the fossil fuel ind industry. stuart: thank you very much indeed. america's power plant owners say president biden's latest plan to cut carbon emissions is unworkable. their word. they say it's too costly, relies on unproven technology. former energy secretary rick perry joining us now. i'm sure agree with that, is unworkable. spell out, please. >> absolutely, unworkable. this is the largest fight against fossil fuel in the history of the world and the people who are going to pay the price of the citizens. take for instance if you did away with the american fossil fuel industry, what it means to countries like africa and india using american liquefied natural gas or will in the future to
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deliver electrons in power to communities that don't have power today so you're basically saying to those people you don't care about the future or if they die, don't care if they have a sonogram or any power to make the life and that's a black hearted way to look at the future so why don't you spend more time on small modular reactors, more money on the technology to develop small reactors which are walk away if, zero emission but it is a war against fossil fuel. that's what this is and the cost not only to the economy of america but the health of billions around the world is going to be catastrophic. stuart: i want to show the headline from bernie sanders quote climate changes threat to the planet, we must address it.
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many reports of extreme weather recently, in your opinion, do we have a warming planet? >> we've heard them say all of the sites, follow the science and i think january of 2021 there was a massive explosion just outside of tonga in the south pacific that pushed 40 trillion gallons of water vapor into the stratosphere, scientists are saying the left will take a look at the science, they are saying that is what is potentially affecting a substantial amount of climate change going on over the 1.5 degrees because of that. what do you do about that? look at the science, follow the science but doesn't fit their
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agenda. that's what they care about, a war against fossil fuel. we don't care about anything else, we are going to bring the fossil fuel industry to its knees and we are going to send trillions of dollars compared to the green industries out there and we've seen how that works here in the state of texas relying too much upon renewables like wind and solar and put your grade in jeopardy. stuart: president biden sat down for a rare one on one interview with the weather channel. he says he declared a national emergency on climate. >> are you repaired to declare national emergency with respect to climate change? >> already done that. we conserve more land and during the paris climate record. 360 billing dollars climate control facility. we are moving.
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the existential threat. >> you've already declared national emergency? [inaudible] thanks, you've already declared that. >> practically speaking, yes you want but the president has not led national emergency, am i right? >> you are correct, the real problem is the biden administration. stuart: that was kind of an easy one i guess. thank you for being with us this morning. see you soon. quick check futures, where are we going? not far. dow is down five, massacre of 17. opening bell is next. ♪
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not much change in stock prices toward the opening bell. functional loss of the doubt, game and the nasdaq. i understand you're looking for big names you can buy on a dip. do you have any big names in
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mind? >> certainly microsoft my the recovery of all time, a bit of a row over there. this would cause long-term holders no reason to get and lower but those who don't own it, any dip is an opportunity to buy one of the best companies on the planet. apple, same case, a rollover and the big names i like, google and amazon -- stellar earnings and the market looks like it's getting tired, they may come down which would create opportunity on the next dip to buy. stuart: interesting, i think the market is somewhat exhausted is putting a cap on price movement. >> would have a stellar move higher. i think investors are looking profits at the back end of q2 earnings and the numbers, some
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are pretty good, the reaction from investors has not been g good. a quick tidbit from before reporting to days after reporting when stocks have beat estimates, they have risen about 1% this quarter, the same docs feeding the estimates, a down half a%, that's a bit of a change, that points to exhaustion. stuart: you got it. see you again soon, thank you. dear going to open this, a lot of anxiety about tomorrow's consumer price index comes out 8:30 a.m. tomorrow eastern time. this is an uptick in inflation at the consumer level, we are hearing a lot of predictions. we will see, i'm not predicting anything like that, i'm just saying there's a lot of anxiety. 9:30 a.m. eastern, the market is
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open. fractional gain for the dow, early going. up about five, six points. when they started to open, we will show this on the screen and split cap up, half down. s&p 500, where is that? very little change. two-point. nasdaq composite four points, .03%. 13800. the tech, all of them except for amazon pulling back 13 cents. look at the price movements, not that much on your screen. we did have earnings that came out before the. i will start with roadblocks, it's down sharply. >> new bookings missed targets waning demand for video games and more competition. not a terrible report if you look at the active users, ours engaged, all of 20% and over 200
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brands that have experiences on roadblocks on the platform where you have plans and the like. wall street didn't like this number. stuart: is not a good report from the electronic games business. >> tons of competition. stuart: tell me about wendy's. >> revenue is like that came out $561.6 million but breakfast sales, white night sales all strong and increased by 200 basis points because of higher prices and that's why it's up one and third. stuart: after the bell, disney, they are reporting. stock is a little bit, what are you looking for? >> how many disney+ subscribers potentially left the streaming platform in the quarter? is expected to lose another 1.7 million subscribers. number two, will disney so tv assets like abc or fx?
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any commentary around that. number three, what will bob iger say about the deal with espn pen entertainment? that's in gambling and disney is a family-friendly brand. stuart: i wonder how disney folks take that. disney tied up with gambling. >> it monetizes espn more than it is. overall revenue should rise 22 and a half doing dollars. stuart: we will see. 4:00 p.m. watch foxbusiness and you will find out. we were, the office people say they might not be in business that much longer. >> fifteen cents a share, another quarter right now. do you remember in 2019 the value? now $100 million. i don't know where to begin, they are losing money and members are leaving and now they
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say the headline, they don't if they continue operating which means potential bankruptcy filing or life going. when covid first hit it seems like we could come out of the slump because of the hybrid work schedules and more people would grant and give up traditional office space in the happen for a little bit but now there's so much office space available and prices have come down. stuart: let's talk about lyft because i know the stock have a big jump yesterday but what happened this morning? >> their spending money to compete with cooper, it's a play from market share so cutting there's to gain market share and it extends the goal of profitability. they expected to be profitable end of the year, unlikely. the good news is revenue arrived went up 5% and -- down 5%, they
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are losing money the but the number of users went up 8%, highest since covid. stuart: were with small loss to smoking. did you move the market? are you moving market? >> we were has and lyft is trying hard to eat at it. stuart: carbonic, tell me more why they are not. >> i believe obama stock is up, we will flip the board to prove it but they are lifting the forecast, they expect with the call adjusted or profit to be about $75 million in the quarter the stock is five an opposite of the turnaround slashing cost, trimming inventory gaining momentum and putting them on the path to profitability. stuart: dating at bumble down, why? >> because of tender in their spending money to compete with
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tender. operate cost up 7% in the quarter spending money on marketing and developing new products. stuart: a competitive business. check the board, just over five minutes. show me the leaders, there are a few. douglas, caterpillar up again. disney of 80 cents. not much place covid. s&p 500 quitters formal fleet -- don't know any of these i'm sorry, but they are not well known companies and not moving much. nasdaq winner, kelly of science, a recommendation the other day that the 1%. ten year treasury yield almost 4%. exactly 4%, just clipped up to
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401. price of gold 1957 and hours. but going we had a bit 30 grand and 29.9. price of oil going up now 83.69. it keeps on rising gradually, expect gas prices to rise gradually. guess 293. no caps no change overnight for regular, average created to put up 30 cents in the month. look at diesel, the average is 421 and rising. coming up, goldstar families outraged by what they call administrations lies on the botched afghan exit. >> given and complete and incorrect reports, total disrespect. >> i was lied to and told to shut up. when your child is murdered, you feel is not justice and to question your existence.
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stuart: you're going to hear from goldstar mother who lost his son in the attack. biden is in bed with black and latino voters. could be the border? daniel because i'm not run against ♪ ♪
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united auto workers pay raises of 40%. coded 80 billion a year to automakers close.
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the new jersey, if this goes through, surely that would make cars much more expensive, wouldn't it? >> that's exactly what i'm hearing and not just new car prices but car parts as well. labor negotiations are impacting general motors, ford, think about chrysler, dodge and american-made cars and we hear the estimate will take the cost of wages from $64 an hour over the $150 an hour. here's some insight here. tom, how are labor negotiations going to impact the price of the car? >> it's going to increase the price of a new car seven to $10000 and not only are they looking to get wage increases the cost of wage increased built-in already. what they're looking for is cutting the workweek 32 hours if
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the cut production any further promote the car industry is in trouble, there's no production today, we are still trying to recover from the tip crisis. >> the unions say the car companies are making money pointing to recent earnings coming out. ford in particular did pretty well and they said they had 1.9 billion in income in the recent quarter and unions say our workers should get some, or to make about? >> there the losing their shirt on electric vehicle market. losing billions trying to get up for electric vehicle market which consumers are not buying into so we can't move the cars, no one is buying them. they keep making big investments so making it on one side but going out the other side. >> that's coming from the administration and the other part interest rates to monitor because interest rates are 7.1%. couple that with rising prices for new car, it seems the
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consumer cannot get a break. stuart: thank you. i want to look at these headlines which have affected the market. new york times "wall street journal" sounding the alarm on china's economy. it has moved on the market. this appears to be in real trouble. what impact from that? >> china is the second largest economy in the world so if they are slowing down, it's going to contaminate the rest of the world including the united states but inflation rate is down but not all that much. if you look at core cpi, it's in positive territory. stuart: i thought they reported inflation. >> the headline was, the court number is not in deflation but they are suffering, our economy is suffering that they are going to grow 5%. can you imagine if the u.s. is growing 5%? not bad but in china they are
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getting w double wall me, domestic growth, hughes unemployment is 21.3%. he spend money but if you don't have money or jobs, you won't spend money so that slows. export numbers are suffering because the u.s. and europe is slowing down so they are getting hit on both sides so if they get more stimulus, it weakens are in the end it's a problem. if they put too much fiscal policy, they got a debt issue. stuart: we are not used to hearing such that economic news out of china. the workshop of the world, always expanding and taking over everything on the in a spiral decline? >> right now is the economy which was, it slows down. the used to grow at eight, 9% in the 5% this year and the next couple of years around 3%. potential growth in the united
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states -- 1.8%. >> let's talk consumer prices in america can we get the numbers tomorrow. what are you expecting and the consumer price index you're on your? >> a number close to 3.23.3%. that would be a down from 9.1%. stuart: the market looks at the direction of inflation and if it's heading up, that's not good news for stocks. >> you are right but remember the basic facts, huge increases in june of last are so not even if we see tiny increases like 0.2% which is minimal, you will see the headline number picking up. climate is something from the same thing because the base affects are causing small declines to show deflation on the headline numbers so if you see 0.3% increase now until the end of the year you end up with
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c.4.7%. stuart: that would not be good. not good at all. thank you for joining us. according to a new survey, most planets executives would quit their jobs if forced to return to the office five days a week. are they calling the shots on where they are going to work? >> yes and i think they went. sixty-seven% of executives like working from home part of the time. if the boss requires him to go back to the office five days a week they say they would quit. what is the message for ceos? managerial staff has 1 foot out the door so before you mandate a chain and attendance policies, offer flexibility because they like the hybrid schedule. >> do think we will return to the office five days a week?
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>> never ever. you might get four days, most will settle on three. people working from home don't want to work from home fully, they like to to three days in the most part. stuart: i believe we've hit a record high, over $1 trillion. >> surpassing 1 trillion comments concerning looking at interest rates rising, average apr at 20.5% so more americans are tapping into their 401ks with hardship withdrawals to make ends meet. there are cracks in the economy, everything is holding up but we see the crooks and there is a limit to how much debt americans in hand with inflation three plus years and interest rates going up. stuart: first during your savings and then hit your maxon credit cards. then dip into 4o1k and then you are in trouble.
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coming up, don't forget to send in fighting feedback. the good, the bad and ugly. e-mail questions and comments at fox.com. the border crisis, every state is a border state. the numbers keep going up and they will keep going up. how do you settle this in north america? top of the hour. ♪
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this is the way. you really went all out didn't you? um, it's called commitment. could you turn down the volume? here, you can try. get way more into what your into when you stream on the xfinity 10g network. stuart: voters in ohio rejected a measure that would make it tougher to change the state constitution. mike tobin is with us. what does this have to do with abortion rights. >> is going to make it easier to guarantee abortion rights in the state constitution. teresa threshold for the state constitution. a sound of feet from voters in ohio yesterday. it was primarily driven by an issue that was not on the ballot this time around. this is a follow-up from the dobbs issue from overturning roe
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v. wade, this is about abortion rights, with the failure of issue one in ohio's constitution is a simple majority, 50% plus one. had issue one succeeded, the constitution would've required 60% of the voting public. the bow is connected to abortion because ohio has a ballot issue in november that could guarantee abortion rate in the state constitution. the major has opposition but voters made the pathway to approving the change in the constitution smoother. >> this was a complex issue. obviously there are a lot of folks it did not want this to happen not just because of the november issue but for all of the other ones. >> people came out and sent a very strong message to an extremist super majority in the legislature that they believe in fairness, they believe in freedom and they believe in the power to hold them accountable.
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>> ohio voters will also look at issues of recreational marijuana and gun control in the near future. advocates are blaming the defeat on outside money and voter confusion. stuart: mike, thank you very much indeed. back to the markets, same story 25 minutes worth of business and not that much action the nasdaq has turned south to half a percentage point, red on the left-hand side of the screen. still ahead tom fitton on the new revelation that are out today about biden's corrupt family finances. riley gaines, a swimmer reacting to megan rapinoe who says it's okay for transgender athletes to play women's soccer. martha maccallum on the new bank records tied to the biden probe, douglas murray on the public rage of a climate policy, the 10:00 o'clock hour is next.
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