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

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and improved cm rah, now with more joy. and the question is, will people who are viewing this debate believe that, buy into that and allow her to distance herself from the biden-harris administration. cheryl: yeah, be interesting to watch. will former president trump tie her to the biden-harris economic record, question market final thoughts here? >> kamala's trying to portray herself as this change candidate but she's been vp if for four years. she literally is tied to the legacy of biden, and the latest new york times poll, i'll just end with saying most americans do not believe that a kamala harris will bring about the major change that will end the biden status quo. they think trump will be that change. cheryl: well, here we go, thank you, carol and caroline, don't forget, tune in tonight. we're going to simulcast the debate, 9 p.m. eastern time, our special coverage at 6 p.m. "varney & company" is up next. hey, stu. stuart: good morning, everyone. yes, it is debate night, but we start with another attack on
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america's big tech companies. the europeans are at it again. apple fined $14 billion for back taxes in ireland. apple obeyed the rules at the time, but they are big and and powerful, and the europeans just can't handle that. google fined $2.4 billion. they gave their own shopping recommendations and and advantage over rivals in search results. the top 50 technology companies in the world, only 4 are european. they make up for that by taking billions off american company. all right. let's get to the debate. this is the first time donald trump and kamala harris have met. the stakes couldn't be higher. there are reports that the harris camp is scrambling the respond to what they believe will be trump's attacks on her policies. make no mistake, the media supports harris. a stream of negative headlines, especially in "the new york times," and an investigation by media research finds abc news, the debate host, runs with almost exclusively anti-trump reports. the debate is 12 hours away. to the markets, not much
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movement for stocks after solid gains monday. dow up maybe 50 at the opening bell, nasdaq up 60. the yield on the 10-year treasury remains above the 2-year. it's 3.69. where's the 2-year at the moment in 3.66. 10-year above the 2-year. oil down the $68 a barrel. gas keeps on edging lower, down another cent for regular at $3.26, and it's the still 119 states with a $2 handle at states -- 11 states. diesel, $3.64. on the show today, massive fraud in the covid unemployment insurance policy program. serious mundy accelerated. blackouts in california. the "wall street journal" calls it lights out in l a ala land. the problem is the mandate that utilities must get away from fossil fuels. those blackouts will spread. and the spacex rocket takes off with four astronauts. they'll go 870 miles up and conduct the first private space
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walk. all is going well. it is tuesday -- [laughter] okay. here i am. it is tuesday, september 10th, 2024. happy 40th birthday to my youngest son, max. "varney & company" is about the begin. ♪ ♪ ♪ it's the final countdown ♪ stuart: i believe -- [laughter] we have a correction. [laughter] lauren: my mic was open. stuart: max is my youngest son, he turns 40 today -- lauren: your youngest child, therefore, insult thing your youngest daughters who are not yet 40. >> we theme on a regular basis. aren't we your children as well?
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lauren: we're in our 40s. stuart: dream on, people. you're not in the will. >> oh, we're so close, i try, i try. [laughter] stuart: serious breaking market news p if you like, the european union going after american big tech companies, apple and google owe billions in fines and back taxes. lauren: you have to go way back seven, eight years. these are two multibillion dollar glabbs. the first -- grabs. apple ordered to pay $14 billion in back taxes. europe's top court said ireland gave apple too low a tax rate. apple said, well, yeah, we paid a 12.5% tax on our ireland profits as stated by irish law. and it also paid taxes on relevant profits in the united states. second case, google ordered to pay $2.7 billion for promoting its own shopping service in search. that case is 7 years old. both rulings are final, no
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appeals. or stamping what she wants to do to way europe treats big business, particularly big u.s. business. tooth stuart they can't innovate themselves, so they fine us for being good at what we do. pathetic. david nicholas joins me now, market beach. will these attacks and fines have any impact on stock price going forward? >> yes, stuart, i think it can. this is somewhat unprecedented, google's now facing its second monopoly case in less than a year. i'm not fan of google's politics at all, but i have to defend the free market here. i think they are being unfairly attacked. yes, i think this does put pressure on the short term. 75% of google's revenues come from advertising. the government of these anti-monopoly case, they're trying to go after google's advertising, so we'll see how it plays out, but i think in the short term, it does put pressur- stuart: my opinion is they are
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punishing our companies because they do things well. i'll leave it there. david, come back at the bottom of the block, more for you on the markets. let's turn to politics. trump and harris face off tonight, 9 p.m. eastern, and we have new battleground polls in michigan, pennsylvania and wisconsin. what do we havesome. lauren: cbs polls shows that trump and harris are neck and neck in these three swing states. they're tied in pennsylvania at 50%. look here, harris is up 1 point in michigan. you can see it's 50-49. she's up 2 in wisconsin where it's 51-49. looking through the subsets in the polls, she win ons on enthusiasm, he wins on the economy. but more voters in these three states said harris is better percent middle class. for the middle class. can either of them find room tonight to pick up votes in their only scheduled debate? stuart: good question. lauren: who are they speaking to? the undecided, the swing with voter in the swing states. stuart: a lot of those people out there tonight.
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ratings will be huge, in my opinion. get to you in a sec. listen the what c -- to the what cnn analyst had to say. >> on one with level, you could argue doing protective media strategy is avoiding any sense of gaffes. and let's remember that some of her worst moments as vice president were many some of these unscripted interview moments. she is not usually as a comfortable in those settings. at the same time, by not doing interviews, she still has not done one solo interview, she has raised the stakes for every unscripted moment that she has. that's why tomorrow night's debate has really become this really pivotal moment for her. stuart: unscripted moments, it's the really caused somage that, hasn't it? >> yes. an italian with word. [laughter] stuart: what's wrong with that? >> nothing, go for it, my pie san. would you like my analysis of what this is? stuart: yes, please. >> i think the strategy worked
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for a couple of weeks. basement 2.0. she skyrocketed in the polls. it worked really well. and then a couple things happened. there was the overall economic numbers. they didn't improve that much, but the wig thing was that c america n interview. she did not come across perfect in that, so we started to see some chinks in the armor, as they say. but to me, you know what is sticking more than anything? when you talk to anybody, people who with actually support her or not, they view her as a liberal progressive. that's the one thing that is sticking with her. and if that sticks with her tonight or that notion even grows that, look, she's liberal, shea going to spend your -- she's going to spend your money, then those economic numbers that favor trump are going to rise even higher. and when people vote, i have a hunch that all the nice hope and joy and all the feelings are going to be subsumed to to how your wallet is peeling. it's trump's obligation tonight, don't come off like a mean guy. keep it on her and her economic policies, and you win.
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stuart: according to a study by media research group, the moderator of tonight's debate, david muir, he has given nothing but positive coverage to harris. 93% of his coverage of trump has been negative. what do you expect from the moderator? >> if they want to keep their abc audience which, keep in mind, that show is number one. very anti-trump, very pro-kamala, so they run the risk if they are down the middle, oh, i'll turn on nbc. you gave trump too much credit. so i'm curious as to whether or not they're going to do their jobs which is 50-50, right down the middle, act like debate moderator, or is going to be an infomercial for kamala meaning donald trump's gown to have to battle kamala and the refs. stuart: got it. thanks, todd. futures showing very modest gains. solid gains yesterday. futures right now show us, where are benow? we've got 'em up ultimate -- we now?
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david nicholas, come back to us. i want to talk about apple. the iphone event. we've got an inside look at apple intelligence, but you called it underwhelming. why? >> yeah. the actual product rollout, it was very underwhelming. but i think what was exciting was the a. i. rollout. again, this is the same iphone with a little better camera and maybe runs a little bit faster. if it wasn't for a.i., i'd be very concerned about apple. what they're doing, if you just look with siri, apple's been late to this a.i. party, i've been very clear about that, but siri will incorporate a.i., that speaks big competition to, say, chat gp if t, for example. if i can speak to siri and ask questions and i get a.i. responses and answers, that's pretty big, stuart. when you look at the hardware with apple watches, sleep apnea, my wife thinks i have. i don't want to take the test, but if the watch can show me that pretty easily, that's pretty ground breaking. so the healthing side of it
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really -- stuart: okay, so you're impressed with a.i. and the health side of it, and those are positives. thanks for joining us, see you again real soon. thank you, sir. it looks like we have another -- [laughter] another deplorables moment, this time from nancy pelosi. i've got to hear this. lauren: she sounds just like hillary clinton. she shows that she has a problem not just with trump. you can understand that, pelosi has a problem with trump, but maybe with most republicans. watch here. >> there are people who will never be, shall we say, inclined to support democrats because of -- they just have a different orientation toward women, people of color, lgbt questioning, you know? they just are not ever going to be there. say that's about, like, to % -- 30% or something like that. and then -- of the republicans. and then you have very, very rich people who do not really want to pay taxes or have any regulation of clean air, clean water, my of that.
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so you have -- any of that. so you have to deal with that. lauren: it's out of touch. i think many americans, many republicans, many democrats want common sense policies. st the common sense. common ground. >> i'm going to redo the numbers for nancy. 99% of republicans don't want hair tax money to go to non-citizens who just randomly want to come into our country and take their hard-earned money. that doesn't make them racist, it makes them want to take care of their families. nancy's off. stuart: very good. check futures one more time. we've got, what, 19 minutes to go before we open the markets, and we're up. a little bit of green, not ooh too bad. coming up, a new york times podcast sounding the alarm on the harris honeymoon. >> there is a chance that this poll is telling us that the honeymoon is over. the momentum is no longer to pelling her forward. >> euphoria has faded that the public is still hungering for a little bit more about kamala harris. and she hasn't provided it yet.
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stuart: what's that? the euphoria is fading? brent bozell takes that on later. we're hours away from the first presidential debate, the economy expected to be front and center. it's maga mommics versus kamala-nomics, and we'll deal with it next. ♪ i don't care too much for money, money can't buy me love ♪ ♪ (cheerful music) (phone ringing) [narrator] not all multi-millionaires built their wealth the same way, you have... the fearless investor. the type a cpa. the bootstrapper. the bootmaker. yeehaw [narrator] but many do have something in common. we all trust schwab with our wealth. [narrator] thanks to our award-winning service, low costs and transparent advice. every day, over a million multi-millionares trust schwab with more than two trillion dollars of their wealth.
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stuart: the market opens in 14 minutes. the dow's going to be up about 40, nasdaq up about 60. little bit of green. the economy expected the play a big role in
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tonight's debate. edward lawrence is in philadelphia where the debate takes place. what are you expecting from the candidates tonight? >> reporter: so the abc presidential debate will be the first real chance to dig deeper into vice president kamala harris' policies. now, yesterday she posted a number of her ideas online, mainly vague ideas building upon what president biden has already done and the biden-harris administration. now, the vice president says she wants to help small businesses by adding deductions to $50,000 for start-up businesses. she says, critics say tax hikes many other parts of that area will sort of take away and eat up all of the other help for those start-up businesses. the president wants to put into place. now, the vice president, like the biden-harris administration, believes the that government spending will spark growth like manufacturing even though the last jobs report showed manufacturing lost 24,000 jobs and is trending down.
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>> america's bidding factories at a rapid rate -- building factories, ands that is because of what we're doing. that's something you can see from this administration. >> reporter: so you need more time? is there a time frame as to when those jobs are going to materialize? >> i don't have a time frame, but we've got to take them all into context. >> reporter: yeah, it's always some point in the future. now, with the amount of flip-flopping from vice president kamala harris, or trump's senior advisers vow the former president will not take the bait and stick to the issues. listen. >> look, of course he can and he will. and these were the same false narratives that they had during the joe biden campaign. will donald trump not talk, will they just let joe biden speak. listen, the bar for kamala harris has been raised. all of the pressure is on her. >> reporter: so 55 days now til the the election, we're finally going to get possibly some details, specific details as to what the vice president would like to do going forward. back to you. stuart: edward, got it, thank
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you. the house oversight committee released a report detailing waste and fraud in pandemic unemployment relief funds. chair of the house oversight committee who dug it all up, congressman james comer, joins me now. how much money are we talking about? put it all together, big picture. >> and that number keeps growing. we found that there was so much money going out, the states were ill prepared, their software was ill-prepared. we've proven that at least between 12- 15% went straight to fraud, to just fictitious names that fraudulently applied for and received unemployment if benefits. and worse than anything, stuart, nothing has been done about it. not only has no one been held accountable for theft, for the abuse of tax dollars and if all the fraud, the government hasn't done one thing to change this.
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this can still be happening as we speak. the biden-harris add administration wants to continue this unemployment program that they have as is. and this report, you know, the very first hearing we had, stuart, when i became chairman a year and a half ago of this committee was about pandemic unemployment insurance fraud. we've been all over this. we've published this report detailing exactly what these fraudsters did to be able to get the money, yet this administration refuses to to take this seriously, they refuse to make any changes, and this could still be going on as we speak. stuart: we are talking about hundreds, plural, hundreds of billions of dollars? it's that big? >> yes. it's, you know, $200 billion is one-fifth of a trillion dollars. stuart: yeah. >> and yet there's no remorse from this administration. this all happened under the biden-harris watch. they've done absolutely nothing to try to hold a single person accountable, much less make
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changes for the future. and that's why we've issued this report. it has specific recommendations on how to make changes. and one thing many of the states administered these practice, the federal government was giving them guidance, forcing hem to -- them to get this money out the door quickly. many of the states have outdated software systems that are very susceptible to hacks. but more than anything, we found that there was no oversight from the federal government on who was administering this money. many of the federal and state employees were involved in schemes -- many schemes to apply fictitious names to be able to get money. we also found in many cases many of the recipients of the unemployment if funds were receiving more in unemployment insurance than they were actually making when they were working. so the whole program is a disgrace to the taxpayers, yet this administration refuses to do anything to fix the problem in the future. stuart: congressman, i've got one minute to be -- to get this
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in. you're preparing a six month continuing resolution, included in that is voter id. are you going to the wall on voter id to make sure you get it? >> absolutely. and why are the democrats so opposed to making it illegal for non-u.s. citizens the vote in elections? it makes you wonder, stuart. i mean, this is something that's common sense. finish if the democrats aren't wanting to pull any shenanigans, then they should openly support this. this is basic common sense if that i think every american voter would agree with, so this should certainly be a part of legislation moving forward, and i strongly support it. stuart: congressman james comer, thank you very much for being with us this morning. all good stuff, thank you, sir. >> thank you. stuart: back to futures. what am i talking about here? back to the futures market. dow up 50, nasdaq up almost 80 just a few minutes before the opening bell. we'll be back. ♪ and you'll have to deal with
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pressure ♪
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stuart: three minutes to to go, and the dow's looking for about a 50-point gain, nasdaq, a. 78-point gain at the opening bell. mike lee with me now. are you still the superbull on nvidia? >> yeah, well, absolutely, stuart. if you saw the markets' reaction to oracle's to earnings last night, you can see why it's easy to be bullish. oracle's cloud infrastructure group was up 422 percent year over year -- 42. this is the key component that is buying the nvidia chips the use for their clients. the growth is still there, the stock is cheap as it's been in the last couple of years. right now i think we are much closer to the beginning of this artificial intelligence cycle, the upgraigd of the computer chips for the data centers worldwide. it used to be moore's law you double speeferred 18 months, now nvidia's bringing us 5-10x every
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year. i think this is a great opportunity for investors that don't already own nvidia. stuart: okay. tell me about apple and google. both have been haley fined by the european union -- heavily find. do you think that makes any difference to their stock price going forward? >> so for apple, they had set aside this money. that fine was, it's a tax payment, and, you know, their spin on this was theyen weren't sure exactly who to pay this tax money to. they're now going to pate to the government of ireland, but that a money had been sitting in's escrow. for google, this goes all the way back to something that happened in 2017. it's a couple billion dollars. it'd be much better if they weren't paying it, but if you're google and you are one of if not the most powerful company in the world, this is loose change. stuart: so no difference to the stock price going forward, it's just continuing harassment -- >> no. stuart: -- from the europeans. >> yes. they want their piece of the
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pie, and the judge gave some pompous response after these trials that no one is above the law. well, you know, if you're going to talk about this to to some of the most significant, stable companies in the world, it's concern substantial, it's a wonder why they're all originated many america and none in europe, right? stuart: yeah, exactly. exactly. of the top 50 technology the companies in the world, only 4 are from europe, and that's a very telling statistic. mike lee, thanks for joining us in this morning. always a pleasure. and we will be checking nvidia, see how it goes. >> thanks, stuart. stuart: thanks, mike. the opening bell coming up in just a few seconds. the backdrop is, well, really the debate tonight may have some influence on the market. i mean, the results of the debate. if it's a hands-down win for trump tonight, maybe the market responds well. i really don't know. if it's a hands-down win for kamala harris, i'm not sure how the market would react to that. lauren: many of her policies need a sweep, a blue sweep of congress. stuart: that's true.
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and if it looks like we're going to get that,s forget the market. we're up 60 points for the dow. a majority of the dow 30 are in the green. the s&p 500 also opening ott upside to the tune of -- to the upside to the tune of one-third of 1%. the nasdaq come deposit also opening -- composite also opening higher, 70 points higher. just a little shy of 17,000 on the index. look at big tech. google and apple, as we've been telling you with, both face billions in penalties after losing event i. appeals. -- e.u. appeals. apple is down a buck. staying on apple, they unveiled their latest iphone as well as apple intelligence. lauren, what will a.i. do for me at apple? lauren: write an e-mail, edit a photo. maybe you can blur someone's face out of it. you can actually take a picture of something and then the artificial intelligence will give you information on that. so a restaurant, for instance, you get automatic reviews.
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the problem is you can't get it now. some of these features come out next month. this is what wed bush says, the 16 will be the most successful iphone launch ever. they think the stock's worth $230 if 0 -- 300. but piper sandler says, well, no, only 225 the because a.i. launch is staggeredded, so customers will wait and see how cool it is before manning over $8ing 000-1200 for a new phone to run a.i. can i borrow a phone, todd? i need a phone because i need to use the side buttons. this is the gee whiz feature about a 16 that a lot of people are talking about. the camera's really great, and you just tap a button once to activate the camera and then again to snap the picture. i might buy the iphone 16 for something like that. it doesn't fold. huawei, a local chinese competitor, has a phone that folds in three. they're putting it in stores in china, the same exact day, september 20th, that the 16 from
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apple is in stores in china. and guess what that huawei phone starts at? stuart: the price? well, i can see it on the prompter -- [laughter] lauren: $2, 800. stuart: wait a minute, the huawei town 2800. >> yep. >> just asking to borrow minesome free. whenever you need it. lauren: you gave it right to me. stuart: let's have a look at d the jt. it was up -- it had been up. now it's down a fraction. lauren: it's such a simple story. trump is the majority other than of trump media, so the stock trades on his popularity. "the new york times"-sienna poll that has trump up is point -- 1 point versus haste, that came out yesterday. the stock went way up because her sugar high has faded, and that came from "the new york times," showing that trump is up. that's why the stock got a boost. we'll see tonight. stuart: so the better trump looks, the higher djt goes. lauren: in a way. i tracked the stock since the
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day she entered the race. the stock is down 48%. including the gain yesterday. stuart: well, let's see what it does tomorrow morning after the debate. now, palantir, they had a huge gain yesterday. i think they report -- down a fraction morning. what's the story? lauren: they're joining the s&p 500 on monday, september 23rd. so in addition, it gives the stock is a boost because the fund managers have to update their portfolios. palantir or will replace american airlines, and yesterday they trait traded at their highest level in over three years. stuart: bitcoin has been coming back a little from its worst week in more than a year. it's at 56,8ed today. that's not much of a comeback. lauren look, september's a bad month for equities, also tradition traditionally for cryptocurrencies. they're volatile, and sometimes we don't know why they trade a certain way, to be honest. stuart: we can never explaint, can we? however, we've got astrazeneca, they've released the results from their lung cancer trial.
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i guess it didn't go well. lauren: no significant improvement in overall survival in patients on it. cancer drugs are meant to prolong life. that's the point. and if you can't do that significantly, what's your future? the fda's expected to green light or not green light, make their decision the on this drug in coming weeks, but it doesn't looked good. stuart: i think there is a big winner here, and that would be oracle. they reported yesterday after the bell. now they're up 10%. that's a big gain for a big company. lauren: their cloud services revenue rose by 21%, their biggest unit. it wins cloud computing contracts from a.i. start-ups. there's your a.i. play. count 42 new deals for oracle in the quarter worth more than $3 billion. the second part of this news release, this earnings report that was a big deal was the partnership they have with amazon aws. that mean means oracle customers can run the oracle database on aws infrastructure. it's integrated. so if you're a business, billing
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is easier, services are easier because of the integration. stock's up, look at that. stuart: i'm intrigued at amazon launching a new private food label, private food brand, i guess you'd call it. amazon saversome. lauren: yeah. budget saver. crackers, canned fruit, cookies, most of those turned $5. we do report after report about the sacrifices people make just to aboard to food shop. walmart, target, costco, everybody coming out to beat on price. this is amazon's chance with this new private label. if you're a prime member, amazon is also discounting 3,000 items. that's a big deal. they have these weekly rotations that they're going to start where you can get half off certain items. stuart: check the big board for a second, where is the dow industrials right now? we're down 73 points. we opened higher but now we're down 75, 40,754. look at dow winners, amazon, microsoft, mcdonald's, j&j,
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ibm. s&p 500, the winners in that index, oracle, tesla, amazon, tyler tech and microsoft. and if you look at the the nasdaq winners, quite a few again. tesla, amazon, doordash, microsoft and alphabet-google. coming up, trump and harris finally debate tonight. bars in washington, d.c. are getting in the spurt. they're offering drinking games -- in the spirit. drinking games, watch parties, handing out drink specials based on each candidate. why not? violent migrant crime surging in new york city. joe borelli wants governor hochul to change the sanctuary city laws. why is new york still a sanctuary city? if joe borelli's in our next hour. donald trump's political adviser laid out more of trump's immigration plan. he promised to build the wall, impose penalties for human traffickers and have is, quote, a 100% perfect deportation rate. now, that's a full plate. what does former acting i.c.e.
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stuart: where are we now after is 11 minutes' worth of business? up a fraction for the dow, up of points, but i've got to tell you, goldman sachs, way down this morning. that's saving -- shaving 100 points off the dow jones industrial average. so it's struggling to go higher despite goldman's big setback there. an ms-13 gang member suspected of murder was allowed to attend a high school in maryland. how did that happen? lauren: maryland has laws that oppose its involvement in inflation enforcement. i won't call it a sanctuary state, but it has sanctuary cities. if this boggles my mind. so authorities didn't tell the school ticket that this student was accused of and later pleaded
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guilty to murder. walter martinez -- i know. you guys are just making hand gestures because i can't believe we're reporting this. walter martinez of el salvador crossed the border illegally into texas as an una unaccompanied minor back in 2022. he was sent to maryland to live with a sponsor. he moved to the a mobile home in maryland, and that's when he killed kayla hamilton. police were waiting for dna evidence before they arrested him, so he attended a local public school in the meantime, and the school did not know. stuart: and wasn't told. lauren: and the mother of kayla hamilton is speak out saying look at what is happening, look at the danger they're putting all those students -- their parents could feel like me -- in by not sharing information. stuart: it's really shocking, isn't it? one thing after another like this, extraordinary. let's get to the border here. a trump campaign adviser says to expect a 100% deportation rate, a finished border wall and stronger penalties for human
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trafficking if trump is elected. former acting dhs secretary chad wolf joins me now. chad, it appears trump's going for everything. are you onboard with all of this, and is all of it feasible? can it be cone? >> well, i think it can be done. i think there's probably an ambitious agenda that the campaign9 and the candidate certainly are looking at, but if you just look back at his record during the first term, a lot of that was started. a lot of the things that mr. miller outlined had had begun and started producing results and, of course, those all ended in january of '221. so, yes, i think a lot of the things that were started and, look, we're in a different environment, so you're going to have to see new initiatives to bring that border back under control. absolutely, i do think this can be done. stuart: would you expect a rush to the border if it looks like trump's going to win? >> well, i think we saw that, right? we saw that at the end of president obama's tenure. we saw the numbers start to increase as he was leaving
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office, and then we saw the numbers dip as president trump came in because folks didn't know what measures and what policies he was going to put in place. and, unfortunately, those did not roll out quickly in 2017, and so the numbers started to increase which is when in 2018 we saw the numbers spike under president trump, and we took a number of initiatives including remain in mexico and other things that those numbers started to dip again. so, yeah, absolutely. at the change of any presidential election if there is a change, you're going to see those numbers both decrease and increase at the same time. if. stuart: we finally have some clarity on harris' border policy. her campaign web site says she wants an earned pathway to citizenship. okay, chad, is that an absolutes amnesty. and no one to this day -- i've been asking for four years how, you know, advocating for amnesty solves the current border crisis. it does nothing to solve it,
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right? so if you're providing amnesty for 8-10 million, which she's add advocating for, those are individuals already residing here in the united states. what does that say to the population outside of the country? they're going to the say, well, i too could get amnesty at some point. they're going to come towards that southern border and try to cross illegally hoping they too get amnesty in the future. it actually doesn't solve anything, it increases the severity of the crisis that we're already seeing today the. and so it's not anything to do with enforcement, it's not anything to do with consequences, does nothing to keep criminals out, and it just talks about giving amnesty to millions and millions of illegal aliens. stuart: in tonight's debate, how does kamala harris get around her failure as a border czar? >> i think she's going to have a very difficult time. i think she's going to have a difficult time running away from her track record over the last three and a half to four years. this is the worst border crisis this country has ever experienced, so there's no way that you can say that their
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border policies over these last four years have been havingful. and in every sense of the world -- word, they have been a failure across the board. and how she runs away from that, i suspect she won't. she'll just continue to say how terrible donald trump is, how terrible his policies were i, but i don't believe the majority of americans believe that. they can look at the two records, the two results, and they see quite a sacker the difference there. stuart: pretty clean cut. chad wolf, thanks for joining us. see you again soon. coming up, the media is rattled. kamala harris' lead is disappearing, so the media's pulling out all the stops and concentrating on how bad trump is. that'll be my take, top of the hour. day two of google's antitrust trial can kicks off again today. the justice department accused google of having a tripeck that of no to moplies -- trifecta. we'll be back. ♪ it's going down, i'm yelling timber ♪ you better move, you betterren -- better dance ♪
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stuart: i want to to get back to what i'm calling europe going after big american technology companies. the heritage foundation's tech policy director is kara frederick, and she joins me now. i think the european union is going after google and apple
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because they can't innovate themselves. what say you on that? >> ooh, stuart, we might night a little bit here. i think you're right in the beginning. we don't want the e.u. to become the next california if they engage in predatory practices. these businesses are not going to want to work there, so that is a bad thing. secondly, we know the e.u. has a weird history, a bad track record of contorting the law to target american company. look at that french representative who says they want to use the digital services act to go after elon musk's x. so all bad things. but i'll tell you, the dirty little secret about silicon valley and some of these so-called american tech companies -- which i will defend whenever the e.u. comes against hem -- but the dirty secret is they are not necessarily the biggest innovators. st those american new entrants, those american competitor it is, those american smaller businesses that are throwing to break through -- trying the break through that are the best innovators.
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so if the e.u. wants a thriving business environment like america does right now, you have to have a permissive environment for those new entrants and start-ups. those are the real innovators. stuart: maybe you just have to get rid of socialism many europe, and then maybe you've got a chance. here's another one. google facing another antitrust the trial from the justice department. they claim google has, quote, a trifecta of monopolies. kara rah, it seems to me that tech the moves very, very quickly. monopolies are easily challenged. i mean, you remember microsoft? if almost ruined 20 years ago because they were big? what do you say? >> it does -- what's at issue here is something what happened in august when a federal or a district judge said that google in search, mind you, had an illegal no monopoly, that it violated section two of the sherman antitrust act. so you have a problem when, say, google -- this is the previous trial -- they paid billions of dollars to be the default search engine for those other internet
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service providers and what not. so it's t not like they're compete on on merits, it's like they're having an advantage by giving billions and billions of dollars to these other companies to say, nope, stiff arm those new entrants, stiff arm those other competitors. we are the monopoly, and we are here to stay, and a judge said it was illegal. in this one whatting google is doing, that that trifecta, i think it's real. they control the buy side, they control the sell side, and they control the ad exchanges. so they're the auction nears of all this, which is problematic, again, for those other competitors trying to break through. you are not going to encourage innovation when you have that big monopoly as it was deemed in search right now, stiff arming those little guys. that's the problem. stuart: you know, kara, you're sounding an awful lot like a european. but i'll forgive you. [laughter] >> thanks, stuart. stuart: todd piro's with me. i think that american companies are being penalized because they're very, very good at what
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they do. and the europeans are not. >> i think i'll break with kara partially on that and and side with you on the european side. but on the second part, the case here in the states, i think that the courts are right on the case in the states, especially when it comes to our business. we have these content creators that are doing all the work, the research on articles, and they're not getting paid for it. what does it mean? they're shutting down newspapers throughout our nation, and that is part of this antitrust suit. that publish is actually going to be testifying in this antitrust case, so it's important for what we do that google gets their comeuppance on this. to your point on the european sufficient, you can't change the law and say give us money because you need money because nobody in europe works, to your overall point. maybe if you have people not work six hours a day and and take months off for siestas and the like, they wouldn't be in that circumstance, and google could keep their money. stuart: ever been to france in august. >> in. >> you can't, everybody's on
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vacation. [laughter] stuart: still ahead, kaylee mcghee white on kamala harris losing ground -- in the polls, brian kilmeade on body cam footage from nfl player's tyreek hill's arrest. he says if he wasn't famous, those officers may have shot him. jimmy failla saying he will votl vote for legal marijuana sales in florida. the 10:00 hour is next. ♪
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stuart: a trump campaign song and yet again i've got to mention the weather. that is new york city, crisp, fresh, bright sunshine, blue sky and it will be like this for a week. i just love it.
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