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tv   Varney Company  FOX Business  August 8, 2024 9:00am-10:00am EDT

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question kamala harris and whether she's going to be able to deliver. maria: it's hard to question what we don't snow, she's not telling dish we don't know, all she does is give talking points -- >> and i think people are going to get tired of that, i agree with you. i think people a going to say, or i've heard enough. it was a great start, but in 2020 the there was a writer who said she's like a great first date, but she didn't deliver on the follow through. maria: we know what she's cone in the past, inflation, medicare fall including insurance for illegals in this country, and tim walz in minnesota, the same thing. free stuff for illegals. >> free health care, free college, free tuition. and justing gooing minneapolis -- google minneapolis. they burnt down that city under his watch. maria: great show, everybody, we will see everybody soon. see you again tomorrow. "varney & company" picks it up. stu, take it away. stuart: good morning, everyone.
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it's called volatility. sharp ups and downs for stocks. trairsd like it, nobody else does, and it's not over. wednesday closed with another sharp decline. today the market markets reacted to the initial jobless claim,s, those numbers just 233,000 jobless claims, fewer than expected. that suggests the economy's not too weak. investors like it. the dow's going to open with a gain of about 130, and look at thats in damage go, up nearly 2000 points. -- nasdaq -- 2000 points. -- 200 2000 -- 200 points. the32-year just over 4, you're at 4.05. how about that? bitcoin gaining some ground as well. it's moving up to 57,9000 as we speak. j.d. vance takes his campaign straight to the vice president.
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he marches down the tarmac at the airport many in wisconsin right next to harris' air force two plane and demands she answers questions. he missed her. her motorcade had just depart. after her wisconsin event, harris said her goal was to bring down price on day one. when the event was over, she refused to answer reporters' shouted questions. it's now 18 days with no press conference. trump, well, he's doing the exact opposite. he will hold a full press conference at 2 p.m. eastern today from mar-a-lago. on the show, two tax cut proposals from trump. no tax on social security benefits and no tax on tips. both appeal to large groups of voters, politically astute. and we're on biden watch. he rarely appears in public. he left the campaign because of his obvious decline, but he's still the president for another six months. we need to see and hear the commander in chief to confirm he's still doing the job. he leaves for his beach house this afternoon. the terror threat hits home.
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three taylor swift concerts in vienna canceled, the authorities uncovered an isis plan to use explosives and new yorks to kill as many concert-goers -- and knives to kill as many concert-goers as possible. thursday, august 8th, 2024, "varney & company" is about to begin. ♪ ♪ hey, baby, there ain't no easy way out out ♪ stuart: i won't back down. hey, baby, there ain't no easy way out. >> that's a good one. stuart: the great tom petty. let's get straight to the markets. s the thursday morning. let's see about volatility. we're looking, as we showed you just a moment ago, some green on the screen, dow's up 140, nasdaq up just over 200 points. adam johnson with me this
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morning. dramatic swings all over the place. is the volatility over? >> no, unfortunately, i don't think it is. i'll tell you why, stuart, the election -- stuart: wait, wait, wait, you think the election is part of the cause of this volatility? >> i do. i do. and it's because there are two very stark, different ways that this country can go depending upon who gets elected. you know, the stock market was rallying when it looked like donald trump was going to be able to beat the pants off joe biden, right? and all of a sudden kamala comes in, there's this honeymoon period, now it's neck and neck. the problem with that is the market hates uncertainty. and on the one hand, you have got kamala harris who is going to raise taxes, spend money we don't have, who's going to inefficiently subsidize failing businesses especially in green energy. it's about a very different vision if we're talking donald trump. it's the polar opposite. it's fewer regulations, it's unleashing american creativity, it's allowing drillers to drill
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and bring cheap oil to the surface lowers prices for everybody and brings inflation down. it's about a strong america in the eyes with of the world, especially in the eyes of our enemies. it's about respect. it's about getting it right. and the market wants trump. it does not want kamala. and right now we don't know which it's going to be, and that is why markets are volatile. lauren: the betting market has them tied. trump had been up this entire time. today the betting market has trump and harris tide at 49%. stuart: okay. we'll get more into this later. you with me -- you're with me for the hour. j.d. vance tried to con to front kamala harris on the tarmac. look at him, he marches down the tarmac. he's trying to have -- get hold of the vice president. because she's not taking questions from the press. while cnn's van jones, he's warning harris and saying, look, youen can't keep avoiding the media. watch this. >> i think they've plaid it smart -- played it smart.
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remember, she's been running for president for two weeks, so she had to get a a lot done. she had to get the base of her party, she had to pick a vp, to so i'm not mad that she's not doing 15 interviews a day, but it can't last. it's very important, and we can't, you know, make favors. anybody running for the top office needs to be as available as possible. stuart: gotta do it. sean duffy joins me now. do you think harris will ever do a full scale press conference or a serious sitdown interview. >> a serious sit-down interview, no, stuart. i think she's going to do some sitdowns with some prevetted questions that she can answer because the harris team understands just like the biden team understood for biden that she can't answer the questions. she doesn't have the policy chops to to go around with reporters and answer the tough questions that would involve the problems -- solve the problems that americans face today which is why she's out there talking about all these platitudes, i'm
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going to reduce housing costs and free childcare. there's no policy around it. by the way, just lower the the cost for a loaf of bread or a gallon of gas, and we'd be happy. but she has three and a half years of failure on that front. i don't think she's going to have success in reducing costs for anybody. stuart: but will vote earth stand for it? i moo -- the voters stand for it? will voters accept this silence? >> i think it's really the media that would call her out and bring attention to the fact that she doesn't do interviews. you show j.d. vance walking up to air force two saying, hey, i'm here to ask kamala questions, but that gut9 city move was calling out the -- gutsy move was calling out the press for not pressing her to do more commentary, answer more questions. and, again, they're kind of silent about it means they're kind of -- and i think we know this, stuart -- they're on kamala's team. they don't want to call her out. stuart: i think that's right. >> so good on j.d. for going and
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checking out his new plane in five months. stuart: what about the president? we've not seen much of him. >> no. listen, it does beg the question, who's in charge. stuart: exactly. >> you have joe biden's an empty suit, kamala's an empty suit. i don't think he can actually do press. we see from him, we hear from him, they do press releases but, again, that's scary for the countries. we face dangerous times economically and also on the global stage, and we don't have a president who is in command of his faculties to lead the country and the nation forward. stuart: and we should know about that. sean duffy, thanks for being with us. we'll watch you on "the bottom line," 6 p.m. eastern on fox business. trump and kamala harris are now neck and neck in one key, or swing state. which state? if. lauren: wisconsin. it's the marquette law poll, trump's up 1, 50-49. it's the opposite among likely voters. the poll was taken before she picked tim walz as her vp. i'm not sure how much he can
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move the needle as the vice presidential pick in the midwest. stuart: okay. but that was the taken before she became the nominee, right? lauren: before -- no, no. after biden dropped out. stuart: after biden dropped out. lauren lawyer it was taken before tim walz was her vp. stuart: okay, that's the unknown at this point. democrats launched a new campaign to lure pro-crypto voters n. this is the democrats doing it. what are they doing? lauren: crypto for harris, it's an advocate i group. fox business reports they will host a virtual town heal, mark cuban -- town hall, mark cuban, anthony scaramucci, they want to tell tell the country that democrats are the party for crypto. i think even more significant than kamala harris trying to get the vote is she brought on david plouffe and gene sperling to her campaign as advisers. they had been with the binance
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advisory board. stuart: adam johnson is still with me, please. is this a clean-cut divide, pro-crypto people vote for trump, anti-crypto people vote for harris? is it that simple? >> well, based upon i think what lauren just told the us, no, right? because democrats are trying to make the case that, no, she favors crypto too. which i, as someone who owns coinbase, am happy about. i want acceptance whether from democrats, republicans or, ideally, both. but i think what you're getting at, stuart, is something that all of us certainly appreciate, feel and hold dear, and that is mr. trump is about fewer regulations. cryptocurrency is about a free-trading currency that is independent of government intervention. right? so that fits the trump paradime far more than the democrat paradigm which is, as mr. reagan used to say, regulate it,
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regulate it, regulate it, that's what democrats do. historically, people like gary gensler, the sec chairman, why people like gary had rejected it and want to regulate it. no. there's a tension. democrats are now trying to say, no, no, no, we like it too. i think it's about votes. i think the dems want those votes. they want the 40 million people -- stuart: news flash, there's an election. >> shocking! [laughter] stuart: check futures, please. where are we going on this thursday morning? if we're going up at least at the opening bell, inned idea how we're winning to close. the media going overboard for kamala harris and tim walz, and they're painting walz as ad moderate. roll it. >> the idea that tim walz is some lefty is just not true in reality. >> maybe a little more of a cuddly choice. stuart: brent bozell begs to differ, he's in the 111:00 hour. harris says she'll bring down price on day one if elected. >> we believe in a future where
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we lower the cost of living for america's families. and when i am president, it will be a day one priority to fight to bring down prices. stuart: on day one, okay. problem is she's already in the white house. what has she done the last four years to bring prices down? if. [laughter] we'll be back. ♪ ♪
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stuart: where's the volatility? [laughter] a bit more of it today. dow's now up 175, nasdaq up 232
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the 2 -- 222. hillary vaughn joins us from the if white house. hillary, what are the campaigns saying? >> reporter: vice president kamala harris is saying the economy isn't in too bad of shape. that's news though to many voters in battleground states who say the economy is their number one concern right now. and when it comes to inflation, harris is promising voters that she would make it a top priority as president. >> while our economy is doing well by many measures, prices for everyday things like groceries are still too high. you know it and i know it. when i am president, it will be my day one priority to fight to bring down prices. [cheers and applause] or. >> reporter: but tackling inflation, americans have been told, is harris and biden's number one priority right now, and pit has been for years but -- and it has been for years but still inflation is more than double what it was when harris
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and biden first took office. and republicans say that harris' policies are the culprit. they say she's complicit by casting the tie-breaking vote on bostles dollars of government spending. they say without her, bidenomics would not have been possible. >> you've got to bring down prices to give people basic of prosperity, and the way you do that is really unleashing american energy, unleashing american farmers and not spending like a drunken sailor which is what kamala harris has done in her time in office. >> reporter: former president trump on truth social this morning is say, quote, kamala refuses to do interviews because she's unable to answer questions much like biden but for different reasons. he is just plain shot, she is just plain incompetent. warning, quote, if she is elected, our country and, indeed, the world will suffer a 1921-style great depression. now, stuart, trump holds a press conference at 32 the p.m. today, a way to fraudulent that he is unafraid to take questions, something that harris has not
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done in a formal press conference since she ascended to the top of the ticket. stuart: 2 p.m. eastern from mar-a-lago. hillary, thank you very much, indeed. we need an economist, and we've got one. anthony chan is with me here in new york. annie, kamala harris -- anthony, kamala harris saying she's going to bring down price on day one, but can the tax and spend policies that she's employeded in the last four years, can that bring prices actually down? >> no, you have a great point, stuart. they have spent a lot of money. they spent money on the inflation reduction act, building infrastructure, bringing chip production if to the united states. the question is whether those expenditures were justified orbit. but they are inflationary, and we've had a lot of inflation. when you look at the consumer price index, it was shown right on maria bartiromo's show, or inflation when you measure cpi from the beginning of this administration to now, it's up 19.2 percent. and if i look at the price
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consumption deflater, it's up 18 president. but there's another side to that picture, and that's wages are up 23.3%, so they're actually up more than price. now, should we have this much price acceleration? absolutely not. i actually did a study, go all the way back to the 1960s, of every single period of inflation, and i found that this is actually below the average. that's what usually happens in economic expansion. and can that's without a war necessarily, a ukraine or supply chain. it happens. and, by the way, big criticism which is justified and you made it and you're justified that you're not going to bring prices to where they were. i looked at every single inflation episode. we never bring 'em back to where they were and, in fact, that's a problem. stuart: okay. what gets to consumers is and voters mostly is grocery store prices up another 19, 20% before the pandemic. will they ever actually come down? >> that's correct. stuart, you're 100% spot on, they will never come down. you can blame any administration
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for that. but if wages are rising faster than food prices, then the consumers at least have a chance at the store -- stuart: but they're only slightly ahead. >> they're not behind -- stuart: you're not that far ahead of the game. >> you're absolutely right, and that's a problem for this administration. and when any administration whether it's this one, a prior one or a future administration, says they're going to deal with inflation on day one, first of all, that's the job of the federal reserve. stuart: this is how we bring prices down, when are we going to see that? that's what i want to know. >> we basically put jay powell, appointed by president trump, he's a republican, to get that job done, and we're going to have to hope. stuart: all right, thanks for being with me. see you later. lauren, what about tim walz's finances? what does he own? lauren: he owns no stocks, no bonds and no real estate. is that weird or normal? he does have pension plans, a
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former public school teacher, he has a life insurance policy, but no stock holdings, no crypto. is he in the system to be able to govern or regulate it? is -- does he have skin in the game? stuart: it's unusual. the governor of a major state is running for the vice presidency of the united states of america, and he's got no money. lauren: what's also unusual is both he and vice president harris or or have never held a private sector job in their entire careers, and they're 60 years old. >> and therein lies the problem. we've got professional politicians telling the rest of us us hard work people what to do. stuart: do you think it's weird -- that's the wrong word. >> yeah, that's for dems. stuart: is it unwriewcial at the very least for a man many that position to have nothing? in. >> i it's surprising. i think it speaks to someone who hasn't learned how to save or, more importantly, how to building. you know, politicians are --
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right? stuart: he's a socialist. >> he's a socialist. capitalists build and create, and, yes, accumulate. so fur not building -- if you are not building or accumulate, you would end up like tim walz with nothing. stuart: there you go. he's a socialist. we better check futures one more time. the market opens in seven minutes' time. dow likely to be up 200, nasdaq going to be the up about 2520. the opening bell -- 2050. the open -- 250. the opening bell is next. ♪ just to see you smiecialg i'd do anything that you wanted me to ♪ daughter: hey, dad. dad: hey, sweetheart. daughter: what are you doing? dad: i'm gonna clean the fence. daughter: it's a lot of fence. dad: you wanna help me? dad: aim at the wall, but get closer. daughter: (gasps) what the?!
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we've looked at every time that we've had these big pullbacks, or big specials on tv about how bad the markets are doing. 100% of the time one year later since the early '90s we've seen up markets. i like two names here. the first one we've talked about many times, i like picking up some scraps of long-term investing, nvidia. i think their blackwell chip is going to come through finally, and i think just down here $50 almost off their all-time highs is not a bad place to pick some up. stuart: how about the broker, charles schwab? >> yeah, you know, they're down 20% off of their recent highs, stuart, and i think that they've had a couple of problems with customer acquisition with bringing in the td ameritrade purchase. they had some tech problems earlier in the week. all of these things have driven
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down the price of a company that is just the house. you always a want to bet on the house, and here's a company that's just turning money over. they don't have to be right r they just have to get volume. they've got plenty of volume, 24.8 million accounts running their investing and trading through that company. they are -- the the house is always going to win. i like picking them up on this pullback. stuart: what worries me, d.r., we get a stock the market that is flat for a period of years. we've got this dip right now, we're going to bounce back and come back might if we just have that flat market for years, that really changes the retirement prospects for many people, and the invest being prospects for many people because the big money will no longer be made in stocks. >> you're exactly right, stuart. you may have even seen me give a little whoo when with you were talking about that.
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i remember those exact periods you're talking about -- stuart: yeah, the '70s. >> i remember sitting with you in the studio through one of those periods where we're going, is this thing ever going to do anything but just go sideways? and at that time with really low interest rates. so i think at that time, stuart, we start rotating out of some of these really big names, but i don't see the indications of that just yet. stuart: okay. so it's not going to be dead flat for the rest of the decade. okay. you heard it first right here. d.r. bar tonker thank you very much, indeed -- barton, see you again soon. we've got about 20, 30 sends to go before this market opens up on this thursday morning. it has been a period -- a week, i should say, over a week now -- of real intense volatility. white knuckle time. this morning we're probably going to open on the upside, but are we going to be in for another wild swing like we saw yesterday? yesterday we opened up and closed down. this morning we're opening up, and i'm not going to say where we might end the day, but we've
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pressed the button, the market's open9 and the dow is up close to 200 points in the very, very early going. up 1699, 38,9 is the level. there's more winners than losers amongst the dow 30. there you have them on your screen. the s&p 500 also opening to the upside. i want to know the percentage gain there. the dow is up almost a half percent, the s&p is up over 1%. how about the nasdaq composite? that is also on the upside to the tune of 1.4%. very solid gain. show me big tech. i presume most of them, if not all, are up. they're all up. meta, alphabet, amazon, apple and microsoft all on the upside better than 1%. just pull out apple for a moment, please. they may charge users for its advanced artificial features. how much are we talking about? lauren: between $10-20 the a month. let's just call it amongst ourselves apple intelligent plus, right? if their a. a.i.
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this is just reported, but we know they're spending all this money to beef up their artificial intelligence, so they want users to spend more on services to reduce their reliance on hardware sales because we're not upgraigd our iphones as a often. this makes sense. would you pay for a chatgpt better siri or to create images and emojis based on command, and if is, how much? that's the question. in the last quarter, their services unit, $24 billion in revenue. stuart: so if i -- let me get this right. if i want to plug into apple's a.i. offerings -- lauren: the best of it, yes -- stuart: -- i've got to pay. that's it? that's how it works? lauren: i think that's how it pans out. other companies are charging for the premium offerings too. stuart: adam, it helps them recoup their investment. >> oh, yeah. the question is, how do you monetize all this stuff? and you do have to pay for chatgpt, as you should. or if you want to create images based on a few commands, you
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know, designers might start using that and sell those ideas to their clients. they're going to get fade -- paid for it, so why shouldn't the creator get paid for it? stuart: eli lilly, a huge jump in the stock price. and % for a company that size -- 13 percent is enormous. lauren: zepbound, add that together, we're talking more than a billion dollars per month for eli lilly in the quarter. it's eye-popping. and then they come out and they didn't only increase their revenue forecast for the year, they increased it by $3 billion to over $45 billion. and they're not done. we're going to make sure we can pump out more of these drugs for everybody. they're opening a new or increasing manufacturing at a new plant in north carolina this year. stuart: actually, demand for these weight loss drugs outstrips supply. >> yes. stuart: so along comes eli lilly and says we can meet demand, and
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that's part of the reason why they're up. >> yes. and my favorite part of the story that lauren just mentioned is that the new manufacturing plant is right here in the u.s., north carolina. right? i love seeing that. i love seeing americans come up with solutions and then actually here at home and then actually making those solutions possible by working here at home. stuart: what about novo vax? lauren: they cut their revenue forecast for the year. they do have is an updated covid shot coming out this month. the fda has to authorize it. obviously, stock's down 1011%. -- 11%. hopefully, it works better. stuart: do you know anybody -- lauren: rolling or their sleeve up to get it? >> look at that, the market doesn't care. we're over it, thank goodness. stuart: move on to costco. lauren: oh. [laughter] stuart: they're updating their entrance policies to get into the store. what have you got to do? is this a big deal? lauren: the stock is up 2.25% because their e-commerce sales
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in july rose -- stuart: [inaudible] lauren: however, when you go into costco soon, if not already, you have to show your membership card and scan it into a little machine, and then a work with's going to come over and say, mr. varney, let me see your id to make sure it is the actually your card. you can bring a guest, don't worry. but this is the annoying. i think it's annoying. stuart: really in. lauren: but if you are paying the yard linessed membership fee, web -- increased membership fee, you want to get something that someone else doesn't get, right? you want perks,then i'm hearing you know that hot dog-soda combo for $1.50, you need a membership card to get into the if food cart. stuart: oh, i used to walk in. lauren: well, they might know who you are. all the good press you give that combo. here's a free one, stuart. tour touter their e-commerce buzz went straight through the roof, and i no longer borrow somebody else's card to get into
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cost -- costco. lauren: it'll be heard. stuart: do you have anything to add? in. >> i don't want like -- stuart: yes or no. >> no, i don't love being carde- lauren: i love being carded at a bar. it never happens anymore. [laughter] stuart: bumble. i know for a fact that that is a dating app where the woman messages first. lauren: yes. stuart: they're down 35%. heroin lauren i know. can i just say maybe women want to be hit on again and we don't want to make all the first moves ourselves? >> wow. she can say that, i can't. stuart: right. shall we move on, or to do you want to dig your hole deeper? lauren: i think in reality there is dating app that'king for men and women. bumble cut their outlook. they said our revenue will grow this year but 1-2%. they had previously said 8-11%, and they're abandoning some of their turn-around efforts, so they have to revalue that it bare wiz -- reevaluate their
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business. stuart: do men get on bumble? lauren: yeah. i believe the woman makes the first move. stuart: the price insist we move on. adam and his stock picks, gxo logistic. >> love this company. automated warehouses. it's ballet. it's a beautiful thing to see. these automated forklifts moving around, pulling stuff off shelves or, incredible. it's also about a company that is growing 18%. they recently beat earnings estimates, beat sales estimates, raised guidance. they're now going to you 18-20% trading at 18 times earn, i love it. gxo logistics. stuart: first american, what do they do? >> title insurance. people say, wait, what's that? when you are buying a home especially with a mortgage, generally speaking, lenders will insist that to you get title insurance. it only costs a but hundred bucks. it almost is never needed which is why these companies make so
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much none. just think, this company right now is paying a 3.5% dividend in spite of the fact that mortgage issuance is at the lowest we've seen in about 30 years. imagine what happens when rates go down, all of a sudden housing activity starts and people need title insurance. i think the earnings are going to double at faf, i think they're going to be able to raise their dividend. the it's a wonderful, wonderful way of plague a rebound in housing due to falling interest rates. stuart: you've got it in your portfolio who? yes. first american. stuart: thanks, adam. still ahead, taylor swift's concerts in austria canceled. an isis terror the attack was narrowly foiled. two nasa a astronauts have been stuck at the international space station since june. it was supposed to be an 8-day mission. now they might be stranded up there until dependent kamala harris' rally in wisconsin interrupted by anti-israel hecklers. [inaudible conversations]
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stuart: all right. the pro-hamas wing of the democrat party is still a problem. we'll show you harris' scolding response to all of that, that's next. ♪ ♪ if
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at the tunnel to towers we made a commitment that commitment is to make sure, that the word homeless and the word veteran are never in the same sentence again. we're in bradenton right now because tunnel to towers has decided help homeless veterans who want to get out of homelessness, get into a better part of their life, it's a great partnership between the tunnel to towers and manatee county, to be able to provide housing for the veterans that need it most, not shelters, homes. it's not just a place to sleep it's actually wrap around services and that's what is so impressive. as someone who fought on the forward edge of freedom these are my people. these are my brothers, my sisters, the people we fought beside one of the hallmarks of military service is the only people behind it that sticks with me. i know that every veteran who raised their right hand and swore to support and defend our constitution against all enemies, foreign and domestic. we have things that we carry inside of us,
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what tunnel to towers is doing with this village is helping veterans that have mental health issues needs. we have veterans that suffer every day. and so to have this facility to service our veterans that are in so need it just the pride is just exploding. we want to make sure that when our veterans are coming home, that they're coming home to something that actually feels personalized and homey for them. that's a home. that's a home with dignity and walls and air conditioning. it's beautiful. i was able to walk through one of the comfort homes today. that moved my heart. i'm just telling you it did when i walked in. and it'll help the heart of that veteran. that's what's important. the care and the give and the love that tunnel to towers has for our veterans is amazing. the people that donate to tunnel to towers, they are amazing. that eleven dollars is changing your life because your giving and it's changing somebody else's to do it. it just an honor to be involved with it. this is all that is good in america. and i am incredibly proud to stand with them. they matter. they save lives. you should support them.
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stuart: after 12 minutes' worth of business on wall street, i would say that the rebound is working. the dow is up a 350, and the nasdaq is up 178. we'll follow this throughout the show. and have a look at big tech. all of them up this morning. all of them rebounding. meta, alphabet, amazon, microsoft, apple at $2911, all on -- 2111, all on the upside. israel believes hezbollah will attack first before iran does. trey yingst in haifa, israel. trey, the latest, please. >> reporter: yeah, hey, stuart, good morning. tension remains high across the middle east amid mixed reports
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about what comes next. israeli media reports that hezbollah could strike israel first in a broader attack than what we've seen so far. hezbollah's leader made new threats against israel this week, and overnight lebanese media reported heavy drone activity over southern lebanon, an indication israel is gathering fresh intelligence on the group. we do consider a preemptive strike by israel possible. iran may be reconsidering its strike against the jewish state. despite being prepared to hit back, some believe iran is recalculating given the large u.s. presence in the region and israeli promises of a harsh response if civilian areas are hit. the americans continue to urge restraint with math miller saying this -- >> this is obviously a very delicate time for the renal. tensions are high. we are -- for the region. escalation has the potential to make every problem the region
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faces worse. and and so the message that we are impressing upon everyone in the region is that no party should take any steps to escalate this conflict. >> reporter: we do expect israel to continue offensive action against his if blah -- hezbollah in southern lebanon, and new reports out of gaza indicate the israelis are striking fresh hamas targets there. stuart? stuart: thanks very much, trey. the former deputy mayor of jerusalem is here with me in new york city right now. your honor, i want to give our viewers a sense of what it's like to live in an israeli town or citied today. what's to it like in jerusalem? >> it's very especially. we see people going out to supermarkets and stock up on water and other essentials and conditioned goods because with we don't know -- condition >>reporter: cannedded goods. we may not have electricity, we may not have water for a few days, so that's the extreme
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situation. we don't know it'll get to that -- stuart: do you get a lot of alertsesome i mean, or do you have to the to go to bomb shelters? does that happen? >> that happens. at the beginning of the war, it happened a lot. remember, in jerusalem we have 40% of our population are muslim arabs, so they try not to attack jerusalem. so they don't, but during the whole war we had many, many sirens, and many tel aviv and in other parts of the country it's common. and even to in the south of the country where you think that gaza, you think that a hamas no longer has the capabilities, they were still sending rockets last week. not to talk about the north of its reel which there were drones this morning -- israel, there were drones this morning that killed a few people. stuart: the from president of the national olympic committee, athletes on the israeli team have received threats which are meant to generate psychological terror. how do you deal with threats like that? >> it's so bad. before they even flew out there,
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these olympians were getting, they were getting funeral notices to their own funerals. you're going for the fight of your life, you're a sportsman if or woman, you're going for the moment in your career, and you get funeral notices to your own funeral? they are under armed guard. they can't have fun like everybody else and go to all those other things that other people can go to. same happened with euro vision. this poor girl that went and sang for -- was under threat to her life. and this is what we've been facing. we are being made into a pariah. stuart: it's a terrible thing. >> terrible thing. stuart: all over the world. >> all over the world. stuart: it's happened very suddenly, but jews are just not prix to walk with around freely, with happiness. they can no longer do that. >> you can't, you get attacked. in the u.k. where you come from, it's been awful. thousands and thousands of attacks. we see what's going on in the u.k. right now. but where did this all start?
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this all started with an increasing attack on jews, simple as that. so what we see around the world and what we see from israel and around the world is that we're in a new era. this is an evolution of the historic anti-semitism that every hundred years or so jewish people have to suffer, so they came for us because of our religion, they came for us because of our race, and today it's the collective jew, it's the jewish nation state. this is how we feel. stuart: thank you very much for showing us how it is. reappreciate that. >> thank you. stuart: pro-hamas hecklers at kamala harris' rally in detroit. lauren: remember that 13% of michigan democrats voted uncommitted, so this is ground zero for that anti-israel vote. and when those protesters heckled her yesterday, at first she was patient and then this happened. [inaudible conversations]
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>> if -- you know what? if you want donald trump to win, then say that. otherwise i'm speaking. [cheers and applause] lauren: and the crowd cheered. row called that scolding. she scolded those protesters earlier. is that a practice run, a test run for what could and very likely will happen in a few weeks from now at the d the nc? stuart: fair point, thanks, lauren. coming up, trump proposes dropping taxes on social security benefits and no more taxes on tips. smart politics in an election year. that's going to be my take, top of the hour. buying a car more expensive than ever, and it's not just the sticker price. everything's going up. insurance, upkeep, maintenance all up. jeff flock has the full story from a dealership next. ♪
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stuart: the average price of a new car up more than $10,000 compared to before the pandemic. jeff flock at a dealership in philly. jeff, is everything going up,
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not just the sticker price? >> reporter: you said it, everything's going up. and i'll tell you, i think you're going to like this place. this is a place with. >> you get a deal. this is eugene's auto sales. this is not a fancy dealership, this is where folks that don't have a lot of money come to buy and come to to buy a deal. but the sticker price is just half of it. take a look at this. what about maintaining and, you know, repairing your vehicle? according to the bureau of labor statistics, that's up 6% invest last -- in the last year, and look at insurance. have you seen your bill lately? up 20% year-over-year. and, you know, why is that? well, it costs more to repair a car these days. we talked to the owner of this dealership who says hiring a mechanic, not easy and very expensive. listen. >> mechanic wages were about $6000 per hour -- $60 ten years ago, the average is $150 in philadelphia, $175-200 for
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luxury cars. >> reporter: here's another thing, stuart. you know, you get into a car, then you get these repair bills and whatever, you can't make your payment? is you wind up delinquent on your loan. those rates have beenic thing up as well and, you know -- ticking up as well, and and that's a bad 1350eur8. you lose your car, you can't get to work. you lose your job. not a good thing. i got one here for you, this is a ford because i mow that's all you can afford. maybe not. stuart: is that the end of your report, jeff? are you done? >> reporter: yes, sir. stuart: thank you. >> reporter: forever? [laughter] stuart: no, no, no, no. not forever. we'll see you again soon. thank you, jeff. i want to turn to my colleague, adam johnson, sitting here. i know you like ford. >> i do. stuart: you've got money in ford. >> yeah. stuart: i can't see putting money into an auto company. maybe tesla. >> i'd rather own ford than
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tesla, and i'll tell you why. ford trades at 6 times earnings and pays a 6.5% dividend. all right? it's trading at a $10. i think it's a $20-25 the stock. so i think i can -- well, there's a pathway for doubling our money in ford. tesla, i don't really know. you know, what -- by contrast, by the way, tesla trades at 50, 600 times earnings -- 50, 60 times earnings. what if everyone who wants an electric vehicle has bought one? if elon musk could make the case that tesla is about making cars and batteries, industrial-sized batteries, ah, that would get my anticipation. but just electric vehicles, not so sure. stuart: 6% dividend on ford at $10 is a share? that a's ooh attractive. >> thank you. stuart: thanks for being with us this morning. still ahead, retired four-star general jack keane. why are we playing defense with iran? shouldn't we go on offense? charlie gasparino digging into woke companies that are
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going broke. florida congressman cory mills. he's a veteran, does he think the criticism of walz's military service is fairsome. and miranda devine on the first sighting of bind since monday. he did a taped interview that will air sunday. the 10:00 hour is next. ... (♪) (♪) (vo) they're back! verizon small business days are here. august 5th to the 11th.
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