inflation to come, so there's no point in sitting on that money. maria: i wonder what you guys think about the stickiness of only soft -- some of these numbers. tomorrow we get the pce number, we're going to see is rent still a problem, food still a problem. >> and that number's supposed to come down a little bit, and they'll play on the fact, look how great e we're doing. but university of michigan last wreak showed you the expectation is inflation to be 4.5% next year. >> and we've seen this movie before, back in the '70s, right? we saw inflation come down and went back up again. >> and let's see how the bond markets respond. fed keeps on saying the bond markets are doing everything for them and help the yields fall, are they really doing the work for them, or is it just wishful thinking? >> right. bingo. maria: great conversation today, everybody. thank you so much. please back soon, guys. varney and company picks it up. stuart: good morning, maria. good morning, everyone. it has been a spectacular

november for investors fueled by the belief that rate hikes are over and that inflation is cooling. stocks have gone straight up. and they're up some more today. the dow industrials hoeing a gape -- showing a gain -- this is premarket, of course -- of about 100 points. the the nasdaq up about 100 points, the s&p up 22. enter rates down. that's helping stocks. the yield on the 10-year treasury is just below, just pond up just above 4.3%. the 2-year is well below 4.7%. stocks rallying, bonds rallying and, yes, look at this, bitcoin is rallying. it has now hit $38,000 per coin. $38,132, to be precise. and gold, firmly bo $2,000 an occupancy, $2,0690 all rights -- 2,060. no change for gas this morning, but we now have 11 states that are below $3 a gallon. there they are. diesel today, no change, $4.23. all right, let's get to

politics. dreadful polling news for the president. gallup shows his approval rating hitting a low of just 37%. on the economy, it's worse. his approval is down to just 32%. today the president touts his green energy policies with a trip to colorado. it's an uphill struggle. the wind industry is in deep trouble, and one state, connecticut, has abandoned electric vehicle mandates. the u.n. climate conference starts tomorrow in dubai. xi jinping will not be there. he leads china, the world's largest carbon polluter e. biden won't be there, the pope won't be there, and the conference is being staged by the fabulously wealthy gulf states who made their money from oil. the conference, by the way, will be presented with a demand that americans eat far less meat. that's how cop 28 will try to reduce greenhouse gases. on the show today, the battle to be the most valuable company in the world. apple leads microsoft right now by just $123 billion -- 12

billion. that may change during our show. it is wednesday, november 29th, 2023, varney and company is about to begin. ♪ ♪ ♪ you're all about a good time, you're all about a good life. ♪ you won't believe until you see -- stuart: who's this? not familiar with this. eyes youngsters in the -- these youngsters in the control room -- lawp lawp giving you hot songs. stuart: you never know. let's start with the latest read on the economy. that's hot. lauren: it is. stuart: the economy's expanding at what a rate? lauren: 5.9%. 5.2%, up from 4.9%. so 5 a.2% revised growth for the summer between july and september. fastest in almost two years. why? businesses spent more money, government spent more money, consumers spent less money.

the consumer number in there went from 4% to 3.6% in the revised q3 number. stuart tot that's the best rate since the last quarter of 2021. 5%'s pretty good. not as good as the last quarter from donald trump when-6% -- lauren: so what happens in the current quart equator? if the atlanta fed says the gdp model sees growth slowing to 2.1% in the holiday quart. stuart: that would be with quite a slowdown. all right. check the markets again, please. we're looking at the dow up 100 and the nasdaq up 102 as we speak. now look who's here, eddie ghabour is back with us. all right, eddie. is this rally -- and it was a great rally in november -- is it for real? if. >> look, you have to respect the talk about. in the -- the tape. rates have down quite a bit, and the dollar has stayed down. from a technical standpoint, we're probably stretched a little bit here, and i would expect a small pullback maybe in the next week or two.

my guest is buyers will come back in and buy it for the rest of this year and the bulls will finish strong this year with. and then we have to go into next year. and if you believe these gdp reports are going to stay as strong as they're reporting, then you're going to want to go all in. if you don't believe that this gdp is going to stay as strong as it's supposedly reporting, then i think you need to continue to be cautious going with into the first quarter of next year with, but make no mistake, this is a real rally that has some legs in the short term. stuart start i don't want to put words in your mouth, but i think yoi missed this near 10% gain in the s&p in november. when are you going to tell your people to get back in? >> so we've been very clear with our plan over the last two years, stuart, and we've told our clients the first half of next year is when we're going to start buying. we believe by march we're going to get confirmation if we are going into a recession and decelerating which will bring great buying opportunities if that happens. and if it doesn't happen, there will be your normal corrections that happen in every secular

bull or bear market that you'll have. is so opportunities will be in small cap space in the first quarter next year which is an area we're looking at, and i also think retailers are going to present some good opportunities, because i think they're earnings -- earnings are going to be very weak. so lots of upside even in this year's bull market that we've seen to the upside. there's still a lot of areas that are nowhere near their highs, so we're excited about that for next year. stuart: but you did miss if it. >> we missed november, absolutely. we also missed a drop last year as well. so over the two years, we're right where we want to be. if you stayed in it and rode it all the way down and all the way up, congrats, but we're probably right back to where we were. the real thing is going to be new york stock exchange year to see if this really -- next year to see if this is a head fake that you see in bear markets. stuart: let's hope it's not a head fake. eddie ghabour, thank you so much. see you again soon. a record-breaking start to the holiday shopping season,

black friday, cyber monday sales. how many people were actually out there shopping looking for deals? they're lawp over the five days, 200.4 million people. record high, and 3.7 million more than last year. where did they shop? online and, yes, in store, and they spent an average of $321 each. that's $4 less than a year ago. all right, let's show you where the shopping exactly happened. you can see for the most part even on black friday where, you know, that's when people traditionally line up for doorbusters in the store. they spent more online, the cabrera-bello bar, black friday, $90.6 million -- black bar. as we wrap up the weekend, solid. consumer, resilient. and 48% of us -- who are these 48% -- apparently done their holiday shopping. all done. they got the good deals, thanksgiving, friday, saturday, sunday and finished on cyber monday. i'm jealous. stuart: i don't know anybody like that. lauren: i used to be like before i had three children. now they're all hidden

throughout the house. stuart: i must report this, of course, billionaire and right-hand man to warren buffett charlie munger has passed at 99. he led quite a life. lauren: he would have been 100 on new year's day. he's known as warren buffett's side kick, but you cannot describe him as a side kick. as vice chair of berke hathaway, arming -- berkshire hathaway, averaging an annual gain of 20%, that's roughly twice the pace of the s&p. so warren buffett bought cheap, but munger without great -- bought great businesses at reasonable prices. he was willing to pay more. he was also known for his wit. remember? he called bitcoin rat poison. you know, he never graduated college, but he got himself into harvard law school, and he graduated magna cum laude anyway. blind in one eye, yet he drove until his early 90s. his take on life -- because how do to you become so great, so

modest and live happy until you're 99 years old? you can buy a new edition of his book, charlie's almanac, out on tuesday. stuart: we could all take lessons from that guy. lauren lauren i know. what a life. stuart: president biden's approval rating continues its downward spiral. a new gallup poll puts it at 37%. and it's even worse on key issues like the mideast and the economy. jason chaffetz is with us now. look, the election is less than a year away. is biden's insistence on running actually killing his party? >> it is. you go back and look at the last election, joe biden was not out on the campaign trail. he had no coattails to ride. him and kamala harris, they were pretty much absent. and if you're going to be at the top of the ticket with such negative networks, we only have to look back three years, and we can see how good things were. the inflation wasn't there, the border was secure, people felt safe on the street, safe in their wallet and safe overseas,

and that's just not the case with joe biden. it's not as if he could get aald have 20,000 people show up like a donald trump could, so i just don't see it. stuart: do you see him actually being in the election? my real question is, how do you get him out? >> i think he needs to hang up his cleats. i've long said on your program that i thought the he would take himself off the ballot for 2024 by the end of the year. i still think that very well might happen. there are a lot of people out there circling and wanting to do it, and you've got some core people, leaders within the democratic party, that are saying as much. they wouldn't do so if, a, barack obama wasn't behind some of that stuff and that they really, truly didn't believe that. the overwhelming majority of people regardless of party believe he's too old, too feeble, and he doesn't have the cognitive capability to be the president.

stuart: that's true. next one. the police have warped that elevated individual -- warned that elevated vigilance will be necessary at tonight's tree lighting ceremony at rock fell orer center. there's a flier circulating online are, it's a call to flood the tree lighting. whiled supporters of pal tune disrupt -- palestine disrupt an event like this? where's the gain? >> if you're taking rsvps, you can put me town as a hard no, i will not be at that event. i don't know how they can take these super popular events for the united states of america for christians in this particular case, how do the they take those popular events and think that they're going the further their cause by shutting down the macy's day parade, the tree lighting at rockefeller center? are you kidding me? that does more to create animosity towards their cause. of they don't seem to have a public relations department because this is not a good look. you have the right to peacefully petition your government in this country, that's as american as

it gets, but not to do the kind of antics and the non-peaceful protests that they have been doing. stuart precisely. just aen chaffetz, have a great day. see you again soon. thank you. hospitals in china overwhelmed by patients with respiratory illnesses, and it's spread to the netherlands. there's concern that this could be the tart of another covid-like disaster. dr. marc siegel here on that one. adina was taken hostage by hamas on october 7th. the 72-year-old was are released on friday. we'll get an update from her nephew on how she was treated in captivity. that's right after this. ♪

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♪ ♪ stuart: it is day two of the extended truce between israel and hamas. more hostages expected to be released later on today. greg palkot is in tel aviv. what's the latest, greg? >> reporter: hey, stuart. we are here awaiting that new group of hostage as which could be released at any time now. of course, they've experienced incredible ordeals at the hands of hamas in the gaza strip for weeks and weeks now. twelve hostages were freed last night. the former captive it is are telling horror stories. for weeks they're had little food and light, difficulty sleeping and bad sanitary conditions. one young man told of beatings, being forced to view torture videos. all told, some 60 israeli women and children, plus others, have been released. it's believed nearly 160 remain

held by hamas and other groups. among them, 10-month-old kafir and other family members. a trillioningtive told fox earlier the israeli government is saying they won't be released today. take a listen. >> we try to remain hopeful. we continue with our battle and efforts as a family, as a united family, to try and get some answers. >> reporter: now, as part of the deal, palestinian prisoners are also being released, but what is being worked on now by the u.s., israel and hamas go-betweens, an extension of the ceasefire and it's hostage exchanges which is set to end overnight. crucial, too, in these recent days, stuart, humanitarian aid being brought into the battered gaza strip. it is a chance to reach people there with death and destruction all around.

one further note on the little 10-month-old and his family, the reason it is reported that their release might not be so easy, they could be held by another group, another militant group inside of gaza. we're hearing some really nasty things from hamas right now. that is why this whole thing is complicated. at the very least, why diplomats are trying the buy some time, trying to extend the ceasefire, stuart, to sort some of this out. stuart a terrible story. greg palkot, thanks very much. 72-year-old adina moshe was freed on friday. hamas broke in, killed her husband in front of her and took her prisoner. her nephew joins me now. tell us, please, how your aunt was treated. >> my aunt a was treated in the worst that you can imagine.

first of all, it started when they kidnapped her after blasting the window of her safe room and pull her out barefoot and put her on a motorcycle to gaza, and this is after she saw her husband, my if uncle -- my uncle, murdered. from there we learned from her after her return that they took her bare feet in the tunnels, the hamas murder tunnels, with republican impossible to breathe, high humidity, and it took them five floors bee neither the ground. and -- beneath the ground, and this is after she i saw all the mob around her cheering can and laughing for her captivity. stuart: i just want to ask -- >> and they -- stuart: let me ask you this: do you want to see a ceasefire extended at risk of allowing hamas to rearm? >> the answer is we are not --

we are the families of the hostages. we would like all the hostages to get free. and we are not in a position to tell our -- how to act. but we know one thing. without the military forces, there will be no deal. and my aunt would never have been released from the cruel captivity -- captivity she was in. and, you know,. [inaudible] without life, only two hours of light a day. they allowed them to eat little rice, little food, and they could not even take a shower for seven weeks. they were sitting on chairs, the children was sleeping under the chairs. this is the conditions they held them in. and the only way they could be released is with military action. so i'm not sure that she could be released without that. stuart: okay. >> so i believe this is the way to proceed, but i'm not in the

position to tell the government what to do. stuart: we want to give our viewers an accurate picture of what happened to the hostage as and how they were treated, and you've helped us do that. thank you very much for being with us. it's a terrible story but thanks for sharing. thank you very much, sir, appreciate it. now this, an actress from "sex and the city" has joined a hunger strike demanding president biden push for a permanent ceasefire in israel. who are we talking about? if. lauren: cynthia nixon, thehead that ran for governor of new york. she's virtue fasting for two days joining other protesters who are doing five days. they're commanding a ceasefire in -- demanding a ceasefire in gaza. cynthia's ex-husband was jewish, so they have two jewish children. she's saying, president biden, look at the children in gaza and imagine they're yours, imagine they're mine, and we're fasting so they can get the food that

they need. stuart okay. another one for you. a supermodel and a palestinian supporter, gigi hadid, made false claims about israel. i believe she's now apologizing. lauren: she said israel killed, tortured and abducted palestinians for years and years and years before if the surprise attack which was october 7th. and israel is the only country in the world keeping children as prisoners. that a deed's 28. she is palestinian-american, and, yeah, she received a lot of backlash for those instagram posts. she has threed, she has apologized saying: it is important or few me to shower real stories about the hardships palestinians have endured and continue to endure, but this weekend i shared something that i did not fact check or deeply think about prior to reposting. so we take her apology. stuart: thanks, lauren. quickly, or let's have a look at futures before we go to a break. i want you to know that the dow

is up about 100, the nasdaq's up about 100 points. the november rally continues. the opening bell after this. ♪ i like it, that's what i like. ♪ lucky for you, that's what i like, that's what i like ♪

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stuart: three minutes til the opening bell on wall street. dow's up 1 100, nasdaq also up 100 points. luke lloyd is with us this wednesday morning. >> hey, stu. stuart: good morning, young man. i want to start with a defense play, raytheon, rtx. currently i think it's about $80 a share. why do you like them, and where's the stock going? >> so i think oil prices the past few months tells a big story. biden depleted the strategic petroleum reserve, and now it's a national defense issue with two wars, russia and ukraine, israel-hamas and potentially a third conflict with china-taiwan possibly coming up, right? if what you don't hear the biden administration talking about because it doesn't fit their climate change agenda is we're actually pollution oil at the fast rate ever right now here in the u.s. which is great for oil prices, but the bad news is

we're probably pollution it because geopolitical tensions all around are going to remain high. so we own raytheon because we do think the geopolitical risks will remain high and national defense becoming more of a priority over the next few years. oil production in the u.s. is reflecting that, and raytheon's down 20% this year, i think it's a $100 stock. stuart: salesforce, you like them. i've got it around 228 at the moment. where's it going? >> yep. it's at least a $300 stock, stu. salesforce is a hidden gem that investors are missing when they think about artificial intelligence. the einstein a.i. platform basically puts chatgpt isn't an already accomplished marketing program helping businesses grow and maintain clients. as the cost of operating a business rises, companies either need to replace those workers or use productive technology alongside current employees to increase productivity. and replacing workers or outright is just so expensive. especially for small businesses

which are mainly the salesforce customers. so i think we're going to see some more light towards the end of the day with the earnings report about how they're using a.i. on the platform. we already owned the stock going into the report, and it's done very well, but if the stock dropped after earnings, we would think about dropping more. stuart: one thing we're following on the show is the battle between microsoft and apple to be the most valuable company in the world. they're awfully close at the moment, i believe they're ant $12 billion apart. is microsoft going to pass apple odd? ten seconds. >> i've been saying this for the past two two years, microsoft deserves to be the biggest company in the world, and it's going to be the biggest company in the world. i don't know if it's today, this week or next week, but the thin about microsoft is, it's a $3 trillion stock that's still acting like a growth stock. apple is not growing anymore, so microsoft will overtake apple and deserves to be number one. stuart got it. thanks very much, indeed, luke. see you again soon. the market is now open and, yes, we have opened on the upside.

35,450 on the dow industrials, and the vast majority of the dow 30 are in the green. lots of buying today. although the dow is up only 30 points in the very, very early going. the s&p 500 up .43%, 19 points. the level is 4,574. the nasdaq composite also opening very sharply higher, up .6%, 4,300 -- 14,300 right there. big tech, or topping that list is apple which is up .if 6%, 1.25, $191. microsoft at $383. meta platforms, $339. big tech up today. all right. lauren, you've got to tell me about this partnership between am szob and nvidia -- amazon and invidia. i see invidia up this morning. this has got to be about a.i. lauren: it's a very bicep initial -- beneficial mutual relationship. amazon's been accused of being

slow to the a.i. game. nvidia's huge, but they also need amazon's size and ability to spend money. so amazon had this big, flash if shi event in vegas, and they announced we have a chat bot for businesses called q, and then the big guy came out, not the amazon executive, but the nvidia ceo came on stage, and they announced that amazon's aws would be the first to launch services with the new chip, new nvidia chip, the h-200 super chip, next year. stuart: that is a big deal. lauren: it's a huge deal, especially for amazon who's been slower to the game than microsoft. stuart: show me general motors, please. they've got clear problems, but they're up 10%. they've got problems with their evs, i've got that. lauren: and they know that. stuart: but they've got a stock buyback. that's why the stock's up, isn't it? lauren: yep. they have to appease investors. it's a $10 billion buyback. it's a quarter of their common stock. fewer shares out there, stock jumps.

also major statement by general motors. they're basically saying we paid the union. the cost of that strike, the labor strike, $1.1 billion. now we'll pay you with, shareholder. so they have this buyback, and they're increasing their dividend by 3 3%, so it's 12 cents a share payable in the first quarter. speaking of es, there's been a major sentiment shift by all of them. they're disappointed that the adoption has been much slower than they thought, so they're tapping the brakes, and they're moving around some money so they have more free cash flow. stuart: okay. and they're up, general motors up 10%. discount retailer dollar tree, i know they reported before the bell. the stock's up 3%. i guess they did well. lauren: actually, it was a big miss on their same-store sales, just under 4%. then they narrowed their guidance, and they see softer demands from their main customer, the low income household, and they're seeing what they saw all year, more. >> shrink -- more shrink. i do not know why the stock is up %.

i'm going to dc up 4%. i'm going to look into that. stuart: some computer read it a mar way. let's get back to apple and microsoft. the gap between them is for the most valuable company in the world. that gap is closing, isn't it? lauren: yeah. okay, so here are the exact numbers. apple is worth $2.98 trillion. microsoft is worth $2.84 trillion. so the gap is $40 billion -- 140 billion? that's what it says -- $140 billion gap, that's it. i want to take a look at the levels of both stocks. okay, apple's $6 away from an all-time high, microsoft is cents away from an all-time high. congratulations, microsoft also declared a dividend of 705 cents a share -- 75 cents a share. stuart: i did the math wrong, i thought the gap was 12 billion, it's not -- lauren: it's 400 billion. we his -- his anticipated to

make sure we gave you the right numbers. thank you so the producers. stuart: they are very close. if apple goes down a bit and microsoft if goes up a bit -- lauren: and it just hit an all a-time high, by the way. stuart: id admit and -- it did and then it backed off. of course that, the cybersecurity firm was hacked badly -- okta, the stock is down again today. lauren: the hack was worse than they thought. they expanded the breach -- the scope of the breach in october. customers el -- they got names, they got e-mails. that increases the risk that you can get a phishing attack. and, look, overall it was a better report card, you're an identity protection, cybersecurity company, and you have a data breach and it's bigger than you first thought, you've got a problem. stuart: you've got a real serious problem, yes, you do. show me disney, please, because yesterday bob iger, the ceo, he held a town hall for disney employees. what did he say?

lauren: he's done fixing things, he's ready to build things. 2024 is going to be the year of investing and building in three key areas. theme parks, they're going to spend $60 billion in the next decade. espn, full streaming option by 2025, and this is the big one, the studios. they need to make better movies. iger says that means fewer movies but just get people back in the seats because that's the nucleus of what disney is, the movies. the theme parks developed out of main characters -- stuart: didn't do much for the stock, it's at $92. lauren: been a rough ride for iger. stuart we are almost six minutes into the trading session, the dow is up 96 points. dow winners headed by nike, salesforce, intel, caterpillar, american express, all on the list. the s&p 500, what's that lust look like? net app, don't know that, but it's up 14%. gm is on that list, hewlett-packard, intuit, ford motor company. nasdaq winners, work day --

workday ink, enphase energy, got it. the 10-year treasury yield listen coming down nicely, down again this morning, below 4.3%. a key marker. check the price of gold, well above $2,000 an ounce, dlshz 32,063 to be -- 2,063 to be precise. oil not doing that much, $77 per barrel. actually going up a bit today. nat gas, $2.86. the average price for a gallon of regular, $3.24, and it is the $4.23 for diesel. got it. coming up, omid scobee is back with a new book about the royals, and it could be a breaking point for harry and meghan's relationship with the royal family. royal expert neil neil sean is here. the san diego airport overrun by

migrants. they've been sleeping this for days. apple just elited its newest iphone system, but law enforcement is warning of a new feature that violates your privacy. we'll break it down for you and that's next. ♪ ♪ (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones.

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any questions you have, and if there's a plan in your area that will give you extra benefits, help you enroll over the phone. it's that simple! call now and we'll also send this free guide. humana. a more human way to healthcare. stuart: on the markets, after 11 minutes' worth of business, the gains have been modified a little. the dow is still up 75 points, s&p up 27, nasdaq still powering ahead, up 1200 points, above 14,400 -- 120 points. apple users are being warned about a fake update that steals money and passwords. what's this all about? lauren: it's a scam. it's going to ask an iphone or a mac user to update their

chrome browser. so if you click on that, what could happen is malware then infects your device and hackers can get your photos, your documents, your passwords. apple says it's a fake update and all devices should be scanned with antivirus practice. i also wanted to tell you remember for a while now, since 2019, apple and -- have been partners with the apple card, also a saving account. goldman is getting out of the consumer business, and the "wall street journal" is reporting apple's looking for a new partner for their credit card business, and their looking to get one in the next 12-15 months. stuart okay. that's the update on apple. thanks, lauren. there are major security concerns over a new feature including in the latest iphone update. it's called name drop. it allows users to exchange contact information just by putting their phones next to each other. kara frederick joins me now, an expert if on this subject, frequent guest on this program to straighten me out.

is this a real concern? i mean, what's wrong with exchange of information by putting your phone next to somebody else's phone? >> well, this is just one thing that evinces that tension between privacy and convenience. so some people say, some tech experts have said this is making a mountain out of a molehill, but i always say when faced with that tension between fives and convenience these days, err on the side of caution. and the biggest issue here is with kids. of if your kids have a device, which i don't recommend right now, but if they do, parents should just go in, disable the setting because it comes automatically with ios17, the new update. go into settings, disable it, and then you won't have to worry anymore. it's a real concern. it's not as preding ours -- prodigious, but you've got to err on the side of caution. period. stuart: the former google chief executive, eric schmidt, powerful guy, he's shownding the alarm on a.i. he says current guardrails are

just not enough to control the danger it poses to humanity. what do you think to that, and my real question is, well, how do you stop it? is the genie out of the bottle at this point? >> yeah. i mean, pandora's box has been opened. eric is a very smart guy. he's right in that it does pose a danger, but i think he's wrong because his proposed solution is to create a global body to sort of govern this technology. imagine if china has a seat at that table. we know that global bodies in general, they're either useless or they're authoritarian, so i don't agree with his prescription. but i would say you always have to have transparent systems, so have explainable a.i. systems. make sure that these systems are designed with privacy in mind, that means approaches to machine learning that are privacy-enhappensing. and then in the end you basically just have to open source some of these foundation models so the entire open source community can look at potential malicious use cases and fix them. i think those are three quick

solutions that don't involve getting something like a human rights, u.n. council with iran sitting on it. stuart: got it. one more for you. two-thirds of us believe that a.i. could do our jobs. is a.i. capable of replacing that many people in the work force? >> i think, unfortunately, the truth really hurts. but i don't like to think about it as a.i. replacing. we know that white collar jobs now are targeted. t not just the province of truckers in middle america being replaced by automation, but we have to think of it like instead of replacement, enhancing human skill sets. so there's that combination of humans and machines that can work together to indegrees productivity that can really -- increase productivity that can really drive america forward as the engine of innovation. so end happens human skill sets with machine and in what they do best by detecting anomalies, things like radiology, that kind of thing is great because it frees up human beings to have

their true analytical rigor devoted to something else. they can make decisions. don't let the machines make decisions, but allow it to enhance humans at their jobs, not necessarily replace them. stuart: you know, you make a lot of sense. that's why you're on the program. thank you very much, indeed, see you again soon. >> thanks, sir. stuart: 2024 republican candidate chris christie wants to raise the retirement age. that's his way of reforming social security. he's stepping on the third rail of american politics right there. what are younger folks saying about this? lauren: well, christie e and nikki haley want to push the retirement age from 67 to 70, and gen-z says, well, we want to retire at 611. [laughter] but you know what? i wanted to retire at 51 when i was 20. it seems so old. so far out in the future, obvious you're going to have your millions of dollars by then and then life hits you, right? and you change your tune. i think as we talk about charlie munger today, right? if it has you thinking about

life, and you know, what happens. i think young people are a little more astute than we give them credit for. if you ask, and charles schwab did, do you realize social security might run out in the next decade or so, they say, yeah, that's why we're saving money. that's why we're spending less on certain things. that's why we're taking jobs not because of the salaries, because of the benefits package that comes with it. so maybe gen-z can retire at a 61. stuart: well, i retired at 49 -- lauren: and then we pushed you back in. stuart: bored stiff. [laughter] lauren: my grandmother used to have in her kitchen something about -- oh, i have to get the plaque so i can remember it, but her worst day is when her and her husband retired. yes. stuart: aye heard that as well. there's a cute saying about it, it was great. she wanted him in the office every day, out of the house. my domain. stuart: what am i going to do with him if he retires? i've heard that a lot.

[laughter] coming up, this presidency, this is my p this presidency is going from bad to worse. i can't imagine what's going on in the white house. the election is less than a year away, and the president's advisers know joe biden is likely to lose. that's my take, top of the hour. realtor.com says get ready for mortgage rates to stay, as they say, at elevated levels. a report on that next. ♪ i'm on a low budget, yeah, i'm on a low budget ♪ ♪

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stuart: 85% of existing mortgages carry a mortgage rate below 6 president. that's keeping many homeowners from selling. kelly is in chicago. i guess more people are putting money into home improvement these days, is that right? >> reporter: yeah. well, it's definitely a good time to, stuart, but many people aren't doing it. there's good news and bad news for people who are looking to either do a diy or potentially

buy a new home in 2024. according to a new realtor.com report, they expect the rates to stay steady, around 6.8% for 2024, and housing affordability going down. realtor.com's danielle hale says even though housing affordability will drop, the inventory or is the issue. >> we're going to see affordability improve for buyers after what's been a tough couple of years in the housing market. we're not talking a big break because of the shortage of inventory. >> reporter: they're expecting existing home inventory for 2024 down 30%, more than 8 out of 10 mortgage rates will be less than 6.5% at the end of 2024, so people aren't moving. and as you mentioned, it's a good time for people to get out here and do diy projects, and that's exactly why we're here at the lumber guard south chicago.

>> it's been a big slowdown because the interest rates are just so high, and people can't afford it. they're getting hit by other kinds of expenses, and they're just not doing the jobs that they would be normally doing this time of year. >> reporter: but the prices, you'd say, are good for people to get start on a diy project? >> oh, yeah. we're back to levels that were pre-pandemic, so lumber's not the part of the issue. maybe the cost of labor with all the inflation we've had. >> reporter: stuart, if you want to start new diy projects, now's the time to do it. stuart: i'm not allowed to ping a ham or, chisel or screwdriver in my house. i'm dangerous with tools like that, but great with report, kelly, thank you very much, indeed. >> reporter: [inaudible] stuart: that's right. [laughter] lauren iran you might pick up that hammer out of boredom. stuart: shall we check the

markets? we are 25 minutes into the trading session. dow's up 80. nice gain for the nasdaq, up close to 1%. show me bitcoin. there's a rally going on there. we've got 37,8, earlier this morning it was well over $38,000. bitcoin has been rallying recently. still ahead, is biden about to make history for all the wrong reasons? that's an intriguing question. i think liz peek has the answer. dhs sec secretary mayorkas is headed to the border this morning. what does texas senator john corps nine want to hear from him in he'll be on the show. a new gallup poll shows very low approval for biden. martha maccallum on all of that. and is the green agenda failing? i'll can ask indiana senator mike braun. the 10:00 hour is next. ♪ ♪ let your mind and your body be free. ♪ dance with me ♪

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