strike. 13,000 uaw workers on the picket lines right now. it's been a jam-packed show, want to thank sean o'hare a rah, joe borelli, cheryl casone. thanks very much. we will see everybody soon. have a great weekend. this weekend on sunday i will be live from the capital. we're going right to the source with this impeachment inquiry, and i will talk with the speaker of the house among other guests. we will also a talk with chairman michael mccaul on foreign policy. i hope you'll join me sunday on "sunday morning futures." have a great weekend, everybody. "varney & company" picks it up right now, and the market is down 30 going into the opening bell. stu, take it away. stuart: i'll see what i can do for you. good morning, everyone. members of the united autoworkers' union have walked off the job at three plants. strike has begun. and for the first time, gm, ford and stellantis have been hit at the same time. gm and ford's stock, when i just

checked it, was down. non-union tesla, that stock was up. president biden has a lot at stake here. he's pushing evs which the unions are not keen on, and he's very much pro-union. how does he square two? he'll make a statement this morning. you will see it. to the markets, and let's deal first with arm, up 25% on day one, thursday, and up again today. the gain has been trimmed a little. point is arm has enlivened the ipo scene. so much so that intracart has raised its ipo price. the price of oil, this is important, $90 a barrel this morning. energy -- sorry. energy is fueling the rise in inflation. gas is starting to the move. you've got a national average now for regular of $3.86, up slightly overnight, continuing uptrend. and look at diesel, you're looking at $4.54 a gallon. that will filter throughout the economy. as for stocks, the dow industrials down maybe 20 the,

s&p down maybe 6, nasdaq down 47. a little bit of red ink. interest rates, we have the yield on the 10- year treasury, last time i checked was 4 -- i'm sorry, that is the 2-year. all right. we'll tart there. 5.03 on the 2-year. that's up. now let's get to the 10-year treasury. i think that's just above 4.3%. we'll get -- yeah, there you go, t at 4.33. thanks very much. polling ticks. bombshell polling from fox. trump is extending his lead over his rivals. among republican primary voters, he is 47 points ahead of his closest rival, ron desantis. bad numbers for president biden, he is losing ground with key voting groups, suburban women, all women, blacks, voters under 45 and hispanics. trump is moving up with all these groups. here we go again. more pressure on the president to ten aside. -- step aside. an op-ed in "the washington post" says it's not true that only biden can beat trump.

another post writer with wants the president out and someone else in. you know, there's something going on. friday, september 15th, 2023. "varney & company" is about to begin. ♪ ♪ ♪ don't walk away ♪ stuart what's that song? oh, of course. kelly charkhson. lauren: oh, boy. stuart: look at that. it's friday, and that's sixth avenue, manhattan, on friday at 9:00. lauren: hey, i took the train in this morning for the first time, it was packed. [laughter] stuart: i'm glad you're here. lauren: i was shocked. >> if you like lots of traffic and crowds, just get ready. next week is your week. u.n. week here in new york city. lauren: oh. >> you won't be able to

movement. lauren: oh, that's true. stuart: thanks. i'm glad you toll us about that coming up next week. thanks very much, todd. let's go with the news. happening right now, 13,000 united autoworkers on strike. all of the big three automakers are affected. lauren, give me the latest. lauren: the president will address the strike today. a deland disin ohio that makes the jeep wrangler, a ford in michigan that makes the bronco and a gm in missouri that makes the colorado. popular vehicles. the union is trying to hit the automakers at their profit engine, and they're introducing an element of surprise, or how old i say fear? because -- or should i say fear? because the auto makers don't know where they will strike next. the longer this last, the more painful it becomes on everybody. there are reports the white house is considering an aid package to the suppliers impacted, but this is a bad look for the most pro-union president we've had. what can he say when his policies, his green dreams, are

threatening their jobs? stuart: he's got to square the two, support for unions and support for ev. thanks, lauren. let's get to politics. the latest fox poll shows trump has expanded his lead with republican voters. he's currentingly 47 points ahead of second place ron desantis. todd pie eau with me. why do you think trump has expanded his lead? >> i think it's twofold. one, people do not like all the cases against donald trump. we all know that. but i think secondarily people don't trust any of the candidates in their heart on either side to run our country more than donald trump. i think this poll is really bad news for everybody except donald trump. obviously, people don't trust joe biden, and this is no alternative. second, you look at the republican numbers, okay? if trump got out of the race, and i think you're going to talk about that right now, it's not real convincing for ron desantis. stuart: let's put it on the screen, because without trump,

this is from the poll, it's a tight race between desantis and vivek ramaswamy. looked at those numbers. how many vivek ramaswamy moved up so much and is so close to desantis? >> that's an easy one, because he is trump 2.0. if trump's out of the race, vivek ramaswamy is your donald trump. but the overall numbers there are not good for the republican party because it doesn't show a groundswell of grassroots support for the republican candidate. and something like that allows a joe biden to win potentially if joe biden's the nominee. long story short, i don't think joe biden's going to be the nominee. i don't think democrats want to use their gavin newsom card because i think they're scared trump's going to win. i think you're going to get somebody like a kamala or somebody. it may not work out well for the democrats because donald trump is on a roll, and all he has done is get indicted. stuart: okay. and stayed relatively quiet too. all right. this is for you too. hillary clinton says concern surrounding president biden's age are off base, her words with. she says she's, quote, all in on

his reelection. would you like to comment to on that? >> whether or not you like hillary clinton, you have to admit she is a craftity one with language. -- crafty one with language. she's a lawyer, she's not a dummy. and if you listen to what she said here, stu, she basically said the questions are off base because of all he has accomplished. she actually said the questions about age are relevant. she clarified this, probably got some pushback, and said that the questions are relevant, but look at all he's done. if you're on the left, you like what he's done, and you don't want to pivot and talk about the age questions as much. nevertheless are, everybody with an eye, with an ear, with a working brain realizes we've got issues if you're joe biden. stuart: like i said at the top of the show is, something is going on. >> yes. stuart: you don't hear about it out in public, but something's going on. todd the, thanks very much. better turn to the markets this friday morning. let's start with arm holdings, okay? if i want to bring in kenny

polcari on this. kenny, now, as a i understand it, arm designs and licenses chips. nvidia makes the chips. so is arm's success dependent to some degree on invidia? >> listen, arm's success is going to be dependent on where the a.i. industry goes, right? whether it's nvidia, intel, amd, any of them, whatever. but i think that, i think the whole arm story is overblown and overdone at the moment. i think, you know, they've created this hype in a.i., and they've gotten everybody to go in. you saw retail coming in from fidelity yesterday with retail buyers trying to get in on the arm ipo. i think they've taken it to unsustainable levels at least at the moment until we see how this all falls out. look, i think arm's going to have a place in the industry, certainly, they're going to be a player. ininvidia's obviously a player, and so as arm negotiation as nvidia goes, so goes arm. stuart: but, you know, nobody wants to miss out on the next

nvidia. >> right. stuart: there is this thing, i don't want to miss out on this one. here's my chance. i hear a lot of that. >> and that's true, right? and so, look, if you've got exposure to the a.i. industry either with nvidia or if you don't, you do want to get in. my fear is that it's overhyped at the moment, and people are going to get in and arm's going to back off and people are, you know, they're going to get frustrated. what's going on, how come it's not doing the same thing nvidia did and on and on and on. as long as they understand there's not a lot of float out there, so the moves are going to be exaggerated in both directions, and as long as you've got a strong stomach, okay to. i wouldn't be chasing it here because i think it's going to back off, and i would be a buyer on weakness because i think this is overblown. stuart: okay. what is your big a.i. play? >> well, i've got two of them, right? i've got nvidia and i've got c3.ai, but don't forget i also

have apple and microsoft and ibm. ibm, i think, is a dark horse in the a.i. race. i don't think people are paying enough attention to what ibm is doing in a.i. so, therefore, i have exposure certainly are with all those names. but, look, i have exposure to a. i. with jpmorgan, right, and bank of america because they're all using a.i. in their businesses. if so whether or not it's a direct a.i. play or you're benefiting from having a.i. in their businesses, it's kind of almost everywhere you go. you're going to have exposure, some exposure to a.i., but nvidia and c3.ai. stuart: all right. kenny polcariing thanks very much, indeed. next case, wait for warriors, that is a veterans' charity that provides activities like water supports. joe by jones is at the wake for warriors event in alabama. joey, who's with you and what are you doing today? >> look, i ran into some georgia friends that you all know and love, the mclemore boys, john

and john jr. here, john ii the, as i was told. and we're having such a good time, wake for warriors. john, tell us about it. >> so, first of all the, i've got to give joey some kudos, has never surfed, and they got him up the first time. probably has a couple of flops out there, stuart. the other thing is if you can do a presidential debate, you've got to get out here and surf. you've got to get down here to georgia. [laughter] it's been amazing. stuart: thank you, mclemore boys. [laughter] >> he says thank you. it sounded like he said it in a way that's probably not going to come out of your -- [laughter] john jr., real quick, you guys were cooking this morning, had a great crowd. the whole community came here. >> yeah. so harris county, georgia, and the alabama community showed up, we had that about 60-65 showing up for wake for warriors, and thanks to the people who donated food and trey guthrie, recording

artist, is also singing. it's awesome hanging out with these guys, man. >> you know they're always up to great stuff. this is a very therapeutic stuff. it is really amazing. we've got a couple of amazing warriors on the boat right now, it really is something else. wake for warriors, check 'em out, support 'em. thank you guys for bringing me out here. stuart: well done, gentlemen, one and all. got it. all right. thanks, man. coming up, here we go again. another outrageous comment from teachers' union head randi weingarten. this time she likened parental rights and school choice supporters to segregationists. we've got the tape. president biden's re-election campaign faces several major obstacles. there are growing concerns over his age, the impeachment inquiry and his son's indictment. how long before democrats move him asidesome we'll be back. ♪ ♪ ♪

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charge. >> president biden has credibility that he believes in equal justice turned the law, and he allowed donald trump's prosecutor to today onboard and investigate his own son. you're not going to see one democrat losing their minds saying we need to burn down the whole government because, you know, a president eat family member's -- president's family member's being investigated. >> that's one of about a dozen crimes that hunter biden's committed. and ironically, that's the one crime that he committed that you cannot tie joe biden to. >> reporter: so hunter's legal woes casting a shadow on president biden's 2024 re-election campaign. but three separate polls all show more than. 70% of americans think he is too old to the run for president, and some democrats don't seem too thrilled about it either. do you think president biden is too old to run for re-election? 70% of americans think so. do you agree with that? >> i mean, i think right now,

yeah. i mean, i just think that right now we have, we have the nominees that we have. >> reporter: so as problems build up for biden politically, the biggest one of all, the trickiest one is happening here on capitol hill as the house is gunning to set the stage -- beginning to set the stage for this impeachment investigation that they announced. stuart? stuart: hillary, thank you very much, indeed. congressman russell fry joins me now. you're a member of the oversight committee. your committee will hold the first biden impeachment hearing this month. the chair is james comer, and he wants to see the biden e-mails with those fake names. if you get those the e-mails, what do you think they might show? >> well, i think it's just suspicious. you have three different aliases? i think what we want to do is see -- you know, we're leaving no stone left unturned, and we want to see the content of these e-mails, the type of communications that were going back and forth. look, the type of communications that were not a week has gone by that has been favorable to the

president from an evidence standpoint. every single week there's more things that we uncover, that we find out, and we're going to follow the facts, and we're going to highlight the truth for the american people. stuart: but you've got to get at those e-mails. you've got to get at the bank accounts. you've got to get at the tax returns. can you get 'em? >> i think so. i think the impeachment inquiry is that great step forward to do that. it allows -- i think it gives the house of representatives, because of the constitution, a stronger legal argument to obtaining these things. this i can't -- isn't just a furbing expedition. -- fishing exwe can decision. obtaining these e-mails, getting the personal bank records to see what type of transactions are involved, i think, is going to help shape investigation. stuart: senator mitt romney and some other republicans do not want to 'em peach biden. they say you don't have direct evidence. what's your response to that? >> well, i'd say look at the investigation. i mean, there is so much there particularly around the ukrainian issue.

and, again, we're not voting on 'em peoplement -- impeachment right now. there's not some impending vote, you know, next week. this is part of the next step in our investigation. and, look, this is the house's responsibility. the senate will hear this if we ever get to that point. but that's, you know, unfortunately for my senate counterparts, i just disagree right now because there is so much there there that we can already see. we're going to keep getting the facts. stuart: now, what's going on in the houses and in congress generally is sometimes described as flat out chaotic and voters don't like it. [laughter] you're laughing, but you know maybe there's a government shutdown, impeachment against president biden, trump's many court, investigation -- in court, investigations into hunter. it seems like chaos, and i don't think the public likes it. respond to that. >> look, you know, democracy is messy. i think one of the best things that we ever did as the house of representatives is to restore working order rules that allow

members like me to have a voice on the house floor. so, look, we're free thinkers in the republican conference. we have a lot of different opinions sometimes, but i think that's healthy for our country in the end. and, look, despite all the noise, we, you know, we've continued to not only focus on these investigations, but deliver policy to the senate that benefit the american people. so we're going to keep doing that and making sure that we are focused on our constituents. stuart: congressman russell fry, thank you very much for being with us this friday morning. >> thank you, sir. stuart: yes, sir. all right, todd, come back in again, please are. i want to know what voters are saying about how biden handled his son's business dealings. >> and if you think we are a divided nation, boy, these numbers bear that out. 66% of republicans but just 7% of democrats are very or extremely concerned about whether joe biden committed wrongdoing, this according to an ap poll. poll also found that just 19% of americans are very or extremely confident that the justice department is handling its

investigation in a fair and nonpartisan way. but look at this breakdown, 79% of republicans have little the no confidence in the fairness of the investigation, just 29% of democrats have little confidence. and i can add one quick aside, we keep hearing from democrats, oh, there is no evidence and that's the reason we are not believing this investigation. well, the democrats many congress and the -- in congress and the entire establishment are obstructing the evidence. so the entire establishment and people are like, stuart, not going on tv the, well, because i'm obstructing your view. i think republicans are saying, one, there is evidence and, two the, to the extent that the dots haven't been connected yet, give the republicans the information, and they'll connect the dots. stuart: if the dots are to be connect. check futures please, i see some red ink, but it's not that much. down 50 on the dow, down 50 on the nasdaq. we'll take you to wall street for the opening bell next. ♪ ain't that just like a dream?

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we're traveling all across america talking to people about their hearts. ooh, take this exit. how's the heart? i feel like it's good. you feel like it's good? how do you know when it's time to check in on your heart? how do you know? let me show you something. it looks like a credit card, but it is the kardiamobile card. that is a medical-grade ekg. want to see how it works? yeah. put both thumbs on there. that is your heart coming from the kardiamobile card. wow! with kardiamobile card you can take a medical-grade ekg in just 30 seconds from anywhere. kardiamobile card is proven to detect atrial fibrillation, one of the leading causes of stroke. and it's the only personal ekg that's fda-cleared to detect normal heart rhythm, bradycardia and tachycardia. how much do you think that costs?

probably $500. $99! oh, really? you could carry that in your wallet! of course you can carry it your wallet, right? yes, yes. get kardiamobile card for just $79 during afib awareness month. don't wait. this offer won't last. get yours today at kardia.com or amazon. stuart: a look at the markets before we open, i'm looking at netflix right now. i want to bring in mark mahaney on this because mark covers

netflix, and i believe mark mahaney thinks netflix now at 400 is going to 550. tell me more, mark. >> yeah. so, stu, there's a lot to catch up on here. netflix has had a pretty healthy correction this week, 440 down to 400 based on some commentary by the cfo. this is not one of my top picks. we still like uber, amazon and meta. but you take netflix below 400, and all of a sudden you get this pretty much asymmetric risk-reward which is what we're looking for. new concerns about the rate at which operating margins are going to expand. but once you've got that risk out of the market a little bit, margins are till going to expand. you still have these two nice if catalysts, the rollout of paid sharing and the rollout of this ad-supported offering. so with this kind of risk-reward, it's the numbing up into my top three names. -- nudging up. we've got with issues relate to the writers' strike, but once we

get beyond it, there's a reasonably clear path to at least 500. stuart: okay. we'll take that. now, we've got three tech ipos - >> yes. stuart: intracart and clavio, i believe. arm was well received. what does that mean for the overall a market? >> i think it's a nice positive indication. as we start covering the market, there's no ipos, but when you tart getting them, it's a signal that investors willing to take, step out a little bit and take on a little bit more risk, and that's what markets are about, being willing to take on risk for some return. so i view the return of ipos without a particular point of view on these three ipos, but i just review the return of ipos as kind of a healthy indicator for the market. my guess is the way that these have been received so far, i think you're going to start seeing ipos, a few more year, you'll see a few more next year. i think that's healthy for the market and individual investors.

stuart: you made some very positive comments on uber in the last two or three weekes. i've got wit, as you know. >> yep. stuart: you still looking for 70? >> yeah. and i'm sort of waiting for that breakout move. like 50, i kind of watch the screens every day, when am i going to get my ooh 50 on uber, because that's when it's starting to really break out. i continue to like it. i think you've got this positive free cash flow inflection point. i think we're going to have a rally in the market kind of in these back months of the year from october on especially if you get a little bit more positive inflation data. i just think the market's kind of primedded for a move millions we get real recession their riskings. that's our biggest risk right now. stuart: that worries everybody. mark mahaney, thanks very much, indeed. >> have a good weekend. stuart: they're about to press the button, the market is now open. i'm looking for a little more red ink than we were seeing 10, 20 the, 30 minutes ago. the market has opened lore, a predominance of sellers.

the dow down 47, 48 pointings. there you have it. how about the s&p 500? how ooh's that opened up on a friday morning? it's down just about one-third of 1%, not that big a deal. and the nasdaq composite, where's that? right from the get go it's down one-third of 1. hoe me big tech, please. from top to bottom, where are we? apple is 175, up all of 15 cents. but the rest are down. 11 cents lower on alphabet, 779 cents down on meta, and amazon is off $1.60 at 143. take a look at the big three autothe makers, please, and tesla. as you know, the strike has begun. i'm not surprised to see ford and general motors on the downside. i'm not surprised either by tesla moving up. tesla is non-union. it is not being struck the. ford, general motors and stellantis are being struck. move on to arm. stellar debut yesterday. lauren: wow. stuart: question, lauren, it looks like it, is the momentum still there today?

lauren: yeah. another 5% gain on top of a 25% gain yesterday. day one for the stock. fomo, fear of missing out. there is a lot of hype around arm. a, ipo that's been rare year and, b, its future is artificial intelligence. arm is not an a.i. stock at present. most of its revenue comes from smartphones and pc, and demand for both of those are down. so investors are buying into this promise, they don't want to miss out. a little technical, arm trades -- his eyes widen -- can at 25 the times revenue and more than 100 times profit. there's one other company that does that. what is that other company? nvidia, who also bought into this arm ipo which is why i said this is fomo. stuart: i believe that at that price arm is more expensive than nvidia. more -- lauren: could be. stuart: on a pe ratio. getting technical here. i believe they're more expensive.

anyway, we'll see how the day works out. then we have adobe, did they get a boost from a.i. or did they not? lauren: well, they already are getting a lot of mileage from artificial intelligence. think photoshop, right in how a.i. can give you the perfect picture. they have something called fire fly a.i., and that allows customers to create any image they want with a command. it's good news. the cfo actually called the past quarter a blowout quarter. they're seeing more revenue coming in, they're raising prices between 8-10 is %. i know the stock is down about 4.5%. what i can think of to explain that is they opted for this price increase at 8-10% that starts in november instead of maybe monetizing that a.i. separately. i'm not saying that's the answer, but it could be part of the reason why investors are down after a blowout quarter. stuart: investors can be tough. lauren: yeah. stuart: tell me about this, i know that oracle's larry ellison

made his first ever trip to microsoft's campus. can you tell me what he's doing there? lauren: they sat down together and had a conferring can. they're deepening their cloud tie-up. customers are in mini clouds,es it used to be a walled garden. now you can go between them because we use so many. you can run all of your apps, all of your data on a single network. but since the future is a.i., a.i. needs data. data feeds artificial intelligence. so oracle and microsoft are coming together to put that together. finish so in the end, users can run microsoft, azure a.i. on the oracle database. i know that's very technical. stuart: no. it's a plus for oracle by the looks of it. all right, now, show me unilever, the maker of dove soap, okay? controversy here. dove has hired a black lives matter activist to promote the soap. allegedly, she ruined someone's life on a false racial charge previously.

is this perhaps going to become another bud light situation? lauren: i think it depends on how unilever responds and handles this, but right now if you go on social media, some customers are tossing their dove products and sharing pictures of the garbage can full of them and saying they're going to threaten unilever and dove. they are mad that dove partnered with a black lives matters activist. her name is dan ya bryant. she's their ambassador. she accused a white uva student of threatening protesters in 2020. then she said she misheard. she tried to the to get that student expelled from school. that student spent a year trying to clean up her reputation. those accusations, they kind of ruined her life in many ways. she's having trouble getting into law school, for instance. stuart: what are they thinking? if why would you hire someone with that history to be your ambassador? i don't get it. >> if i could chime in for a second. the only thing i can think of in

light of all the evidence we have in front of us from bud light, from target is that they are courting this controversy. lauren: yeah. >> you have to imagine, 30 million people in america, you choose this individual? if you're trying to brand yourself to a new audience, let's say get the african-american consumer, there are so many other people you can choose for their role. ing -- that role. why did you pick a person you knew would be a lightning rod? you may have done a cost benefit analysis where you said, hey, the people we're going to lose are not going to be more than the people we're going to gain. if not, this is just sheer stupidity. one of those two options. [laughter] stuart: pick one. lauren: i just wonder how much of it could have been a mistake. did they not realize? why would you purposefully go and -- [inaudible conversations] >> that's malpractice, if you didn't do your research for a multimillion dollar ad campaign. lauren: maybe you want a new poster child, right in because that the uva student was white, was young, her dad was a cop. she was pro-blue lives matter,

pro-police, and dove is moving in the complete opposite direction. stuart: it seems like a very strange the move, let's leave it at that. lauren: let them respond. stuart: jpmorgan, they're trying to lure small business customers. how are they doing that? lauren: you're a customer, you bank with us, but you're also a small business,ing they're teaming up with a company called gusto to build the technology to pay workers and gather the task documents, do all that. plans to be live at the end of next year. jpmorgan is thest bank. this positions them, a, deeper into the digital world to compete with block and paypal and also to further provide for their 5 million small business customers that they already have. stuart: that makes sense. i gotta that, fair enough. thanks very much, lauren. coming up on the show today, "the view" cohost sunny hostin issued a warning for president biden. watch this. >> 991% of african-american can -- 991% of african-americans voted for biden and will continue to vote for biden if

kamala is his running mate. i would be very careful, president biden, about getting rid of kamala harris because we will not support you. stuart: whoa. the panel exploded over that comment. i want to hear from the newly-minted "fox & friends" cohost lauren. lawrence: jones about what they said on "the view." he's going to be here later. 61% of voters do not think that joe biden has the mental a soundness needed for the job. concerns about his mental ability are are growing. sandra smith takes it on. autoworkers trading their jobs for picket lines. we're on the ground speaking with both sides of the negotiating table. that report is next. ♪ because you're mine, i walk the lewin ♪

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stuart: on the markets after 12 minutes' worth of business, a

little red ink. nasdaq down about 100 points. 13,000 i autoworkers on strike, they couldn't come to an agreement with the big three. grady trimble's in detroit for us. are there any negotiations happening right now? >> reporter: stu, i can tell you that the uaw president, shawn fein, is not at the bargaining table today, but there are still negotiations going on at a lower level. i can also tell you that the automakers, the leaders at the highest level, are not happy with the way the uaw has gone about these negotiations today and, of course, in the days leading up to the strike. ford's ceo, jim farley, told me the uaw waited days to respond to ford's fourth offer with a uaw counteroffer, and i just spoke with general motors' ceo mary barra this morning. she says the uaw didn't put forward a real counteroffer -- those are her words -- until last night. >> the strange was completely unnecessary -- strike was

completely unnecessary. again, we have a historic offer on table. we want to get to those last, final issues, find a solution that not only is good for the members, but is also good and makes sure that gm can sustain and have, you know, a future for the next # 15 years. >> reporter: this is the first time the uaw has gone on strike against all of the big three automakers at the same time. around 13,000 uaw members, about a tenth of the total members at the big three automakers, are walking off the job at three plants today; a gm plant in missouri, a ford plant in michigan and a stellantis plant in ohio. it is far from a full blown strike of nearly 150,000 workers the uaw initially threatened, but it's still already causing disruptions, and uaw president shawn fein says the union could ramp this strike up. >> this strategy will keep the companies guessing. it will give our national

negotiators maximum leverage and flexibility in bargaining. and if we need to go all out, we will. everything is on the table. >> reporter: gm's ceo mary barra is the only of the big three automakers' ceos who has had a strike on her hands. that was back in 2019. i asked her this morning what she learned from it, and she told me, quote, no one wins. but, stu, obviously the uaw disagrees. the u a aw president is joining picketers this morning as we speak. stu? stuart: thanks, grady. republicans are sounding the -- sounding the alarm on biden's push toward electric school buses. >> yeah. house energy and commerce committee chair saying the following, quote, the administration's forced electric transition will also make us more reliant on china which dominates the ev battery market. and the supply chains for critical materials necessary to

build electric vehicles. it's that same old argument, you're giving a lot of power to china to control our energy. she pointed to the energy secretary's own highly publicized problems nice finding a charging stationing saying if a cabinet member member that is has difficulty the, how can the administration guarantee millions of kids can get around in these ev school buses? she makes a point. if anybody should be able to charge their ev, it's the energy secretary. that raises concerns, stu. stuart: yes, it does. thank you very much. lauren, what's this about the can chinese communist party-linked, an ev factory being built near a military installation in illinois. lauren: goshen's parent employs 923 ccp members, and they are now setting up shop in illinois, building this $2 billion plant to make lithium9 batteries thanks to $536 million in subsidies from governor pritzker and the inflation reduction act. it gets better.

well, the reality -- we need affordable evs, right? that's the goal, so you need china to provide the affordable batteries, but this chinese plant will will be 30 miles from an army reserve facility in joliet and 15 miles from a national guard facility. and they're not done, because goshen is also setting up shop, another $2 billion plant, for michigan. >> to clarify, we need evs because they're forcing evs upon us. if they weren't forcing them upon us, we could leapt market forces dictate and not help our number one adversary. stuart: that's a very fair point, well made. coming up, it's not too late to be on the show. don't forget to send in your friday feedback. i want it all, comments and critiques included. varney viewers@fox.com, seven it in. new fox polls show biden losing ground, trump gaining ground. for democrats, that is a horror show. that will be my take coming up at the top of the hour.

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and it's free. download duckduk stuart: all right. take another look at arm. you could call that the ipo of

the week, the month and maybe the year. it's actually gaining a little bit more ground as we speak. angelo zimna joins us, he's our market analyst of the morning. angelo, arm designs chips which i think then license are. nvidia makes the chips. does the arm's success depend in any way on nvidia's success? >> it does to an extent. i mean, when you kind of look at arm, arm shipped over 30 billion chips last year, so when you kind of think about it, they are a lot more than just nvidia. in fact, when you look at where they're mostly penetrated, it actually is in the smartphone market where nvidia actually doesn't participate. they have over 99% of the smartphone market. so that's really where arm's bread and butter is. but where everybody's really getting excited about the arm story and what's really catapulting the stock higher is their kind of penetration into the data the center, serverrer market where they are exposed to nvidia and where there is that

a.i.-enabled play with arm. stuart: i've seen a couple of analysts looking for over $500 as a pice target for nvidia. what's your price target? >> yeah. as far as nvidia's concerned, it's one of our top a.i. infrastructure plays within the semiconductor or industry, we have a target price of $600 and, you know, assuming a veried modest kind of high 20 the type multiple based on our 2025 the estimates. stuart: do you have a target price for arm? >> we do not. we have not started coverage on that name at this point in time. stuart: okay. who are your top a.i. infrastructure chip names other than nvidia? >> yeah. so outside of nvidia there are three other names that we do like a lot. so amd is a name that a we like aa longside nvidia in terms of the computing play within the data center. the other two names we to do like broadcom and marvel. they're more of kind of the

networking plays within the data center and should also benefit as we kind of see more of nvidias and amd chips evolve within the data center. stuart: they're all down today. they're all down -- >> yeah. stuart: does that wore arely you at all, a daily movement like this? >> it doesn't necessarily worry us, but i will say a broader decline here within the, you know, the overall tech, you know, tech space we kind of saw some nice moves here up until this point this year. i think maybe kind of some of the movement in arm might be taking away to some extent from what a we've seen in semiconductors, maybe some out there might be wanting to call some sort of intermediate-term peak many terms of the hype cycle within semiconductors. but that a said, we continue to think there's a lot of room left for those four names. stuart: if i wanted to lay out a 5-year plan to get a base investment in a.i. computer --

infrastructure chips, would i be okay with amd, broadcom, marvell, nvidia, pick two of those four and i'd be okay long term? >> i think so. to be honest with you, you kind of look at broadcom, they're actually kind of the lone multiple type play. that's a nice kind of diversified, sneaky way to kind of play the a.i. play in more kind of a value-centric way out there. and then the, you know, that that alongside a name like nvidia with or amd which has that higher multiple and better growth story attached to it, and i think you'd be perfectly fine in terms of that infrastructure play long term. stuart: i might just do that. angelo, thanks very much for joining us. >> great, thanks. stuart: doordash, can we put that up on the screen, please? it now trades on the new york stock exchange but not for long. lauren: it's going to switch with over to the nasdaq the on september 27th where it will join other tech companies, the n

nyse/nasdaq rivalry has been alive for a long time. stuart: is that why it's down? >> no. they just got a downgrade e from moffett. they have a young customer base. young consumers are struggling because of inflation, and they have to repay their student loan debt again with. that's what the brokerage says, is so the company's down. but i want to point you to the height of the pandemic when shares were at $182. remember that? airbnb, doordash, row blorks all these companies that ipo'd at that time, they've been struggling because we've reverted to more normal behaviors. anyway, they'll be at the nasdaq. stuart: gotta go, but, todd, thanks very much. still ahead, tammy bruce on all the problems america and biden face. newly-minted fox cohost, "fox & friends" cohost, i'd say, lawrence jones on biden's declining support among minorities and women. sandra smith responds to hillary clinton who says biden's age concerns are off base. and steve hilton on the growing

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