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stuart: adam johnson is still with me, please.is 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, 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,

stuart: adam johnson with us this morning.berg, in the call, set a very lofty goal for meta. the strategy, is it paying off? >> you better believe it. and the key is artificial intelligence. what a difference, stuart. if you remember 18 months ago, meta was spending $13 billion on the meta verse, and it was a disaster. the stock went down to $82. i know because i bought it at 150. it went to 82, and compliants were calling -- clients were calling, are you out of your mind, adam? i said, no p once they do, it'll be trading at a 8 times, and here we are 18 months later at $518. they're spending a lot of money on artificial intelligence, but it's paying off. whereas the metaverse was nothing, we couldn't understand what it was, it was make believe. artificial intelligence is hardly artificial. it's real. it's a growth driver, and where else can you possibly find $ -- 2.55 billion people every day on a web site? it's a must-own company. stuart: back to you in a moment. thanks very much. let's switch gears is and get to politics. d

adam johnson is joining me this morning to check out this market. adam?he number of jobs added revised down 818,000. big number and we've got very little reaction from the market. is that because rate cuts are really baked into this market? >> i think that's part of it, stuart but the other part is that those job revisions go back 12 months. i mean, that is old news. in other words what happened 12 months ago, 11 months ago? that has no bearing from the markets perspective on what stocks are going to do over the next couple of months. i mean, you could argue that it undermines people's ability or people's trust in the government's ability to actually get the numbers right. that's a fair point but the good news is, stuart, that america is not run necessarily by politicians, but instead, by entrepreneurs, by can-do people who get things done, no matter what the government says about jobs numbers or anything else that might be said in chicago. stuart: adam, we've got gold well-above 2,500 bucks an ounce. you're suggesting that that is not sustainable? why. >

adam johnson with us this morning. >> indeed. what does walmart's results and the retail sales numbers tell you about the consumer? >> that the consumer is stronger than we think, that the people on wall street who are calling for recession are wrong. admittedly, there's also a political narrative here, stuart, in an election year. democrats are thrilled by this data. republicans, hate to say it, probably not, right? because if you're running on economic weakness and we need change, it's harder to make that a argument if people are employed and they're making money and spending money and that's generating corporate earnings. stuart: it's produced a nice rally this morning. does the rally have legs? >> yes, it does, and i say that as someone who is fully long and, by the way, took some hits over the down -- the past couple of weeks. you have right now corporate earnings going up because as we learned this morning from retail sales, people have money they're spending. earnings going up at the same time that we have inflation going

revisions 818,000 jobs and no longer there joining the bullseye in new do some portfolio manager adam johnson, great to see you. maria: what do you want to do going to year-end in terms of allocating capital. >> on the last optimist standing there's more like that not to like and you hit on some of the points we have gdp growth and lower inflation which means we have recut coming and we have earnings and even very solid 9 . maria: let me get your take on the nvidia quarter it was better than expected in stock sells off a preset and comes back was all the way back in the regular session, what is the story on nvidia i know you own the stock. >> i voted for a long time and as you talked about it i sold a little and buy a little bit back here's the story nvidia be on the top and bottom line by 5% they raised guidance and guidance implies growth of 85% and yet for some that was not good enough and that's why the stock sold off, growth was 2 - 3 hundred% and they say only 75 - 80 and must be over, it is not over by nvidia on the dip. maria: when you're successful in a success story nvidia the expec

maria: welcome back. 30 minutes before the opening bell for a wednesday, final thought, adam johnsonhree and a half years, fed's cutting rates. maria: michael. >> -- as well as in the harris platform. maria: wow. todd piro. >> exactly what those two gentlemen said. [laughter] maria: we so appreciate you being here, see you again tomorrow. "varney & company" picks it up right now with a market that is up after that cpi. ashley webster in for stu.

thirds of a present on the hang seng, joining the conversation all morning long bullseye annuity adam johnsonp strategist krysia lenzo and acting ice director jonathan fahey. "mornings with maria" is live right now. ♪. maria: it is time for the hot topic about were, day two of the democratic national convention to the books, the years is accepting the nomination from 9t night. >> the delegates at the democratic national convention, they just completed the rollcall and they have nominated coach walz and me to be the next vice president and vice president of the united states of america. i think everyone there and here for believing in what we can do together. we are so honored to be your nominees. this is a people powered campaign and together, we will chart a new way forward. maria: this reportedly done out of respect for joe biden who has bad feelings toward obama's for being instrumental in pushing him out on running for a second term, that's why she accepted so far away from chicago. in chicago barack and michelle obama had lied in the night promising the new way forward if, the hair shoul

also with me this morning is adam johnson and ryan, great to see you.n. >> great to be here. maria: a lot to talk about this morning the market closed at record at session highs dash-sorry, session highs led by tech and chip stocks, the dow was up 40 of 408 and nasdaq upp 2 and-a-half percent led by tech names, nvidia added $420 billion in market value in four days as investors are buying the dip ahead of the company's earnings later t month, that's going to e the bigbig kahuna. huawei is looking to challenge nvidia by overcoming u.s. sanctions, they write huawei's ability advance in chips is the sign that they're able to break through obstacles and develop alternatives made by the u.s. and allies, some might say so huawei can continue surveil users. >> and none of their technology was stolen. that was sarcasm, which i probably shouldn't use. they have a lower powered chip that competes with nvidia that they're allowed to sell to china. even if they cut into some of nvidia's market share we're talking about something like $12 billion which in the scheme

we've rousted adam johnson out of his office which is close by so he could offer some commentary on what's going on. all right, adam, the jobs report came in very soft. the economy is clearly weakening. is that why the market's selling off? >> yes. the market is selling off a, stuart, because the narrative has changed from worrying about inflation to worrying about a reeducation. and that has happened -- recession. on wednesday chairman powell said inflation is effectively beat, and we're going to start cutting rates in september, right? if you look at the average of all of the different inflation indicators, cpi, ppi, pce, etc., you get to to about 2.6%. the fed's target is 2. great. so inflation is effective wily beaten because it was as high as a9-11. that's one piece. the second piece of the puzzle is what we got today, the jobs unemployment. unemployment -- jobs report. unemployment has moved up to 4.3%. job growth was much slower than expected so everyone's saying the fed is late to the punch, the and that's what scares people. stuart: lauren, you been digging through the jobs report

capital management president and host of payne points of wealth podcast, ryan payne, also with us is adam johnsonrsation. adam, i want to get your take on earnings. we heard from disney, second quarter earnings in full swing, disney reported a double beat on earnings and revenue boosted by the success of the film inside out 2 he helping overcome a profit decline at the theme parks. streaming services producing $47 million in profit with subscribers growing for hulu and disney plus despite announcing it's raising streaming prices up to 25% beginning in october, pushing customers towards the bundle plans. look at the stock this morning, it was up 3% when the numbers first came out. it is now negl negative, down te quarters of 1%. we'll hear from warner brothers discovery and paramount tomorrow. your reaction. >> buy the stock. it's ridiculous that it's down. they beat on the bottom line, beat on the top line. they are increasing earnings guidance this year and they will now grow 30% which is higher than 25%. as you mentioned. they are raising prices on streaming. streaming made money for the first

holes with me is adam johnson, great to see you. tang you for joining the conversation. am, i want to start with earnings. target, big null betters from target, -- numbers from target, raising annual profit forecast, announcing a share buyback program of $155 billion. reporting comp sore sales up 2%, better than expected, citing lowering price, be pulling the company out of a sales rut. stock is up almost 15% right now. macy's by the way also beat on earnings but missed slightly on revenue and it is cutting its annual sales forecast. macy's comp store sales down 3.3%. we're waiting object on tjx in 20 minutes, followed by bjs and dollar tree tomorrow. it feels like we've got a bifurcated story in retail. >> the temptation is to try to the connect the dots and say, well, if it happened here, it's going to happen there. you have to look at individual companies. remember target a couple years ago coming out of covid kept getting inventories wrong, they bought too much stuff. maria: i remember that. >> they had the whole issue with the lgbtq merchandise that didn't play so we

after three years in office, joined in the conversation bullseye american ingenuity fund manager adam johnsonhere, "fox & friends" cohost todd hydro in new york state homeland security advisor michael balboni is here mo "mornings with maria" is live right now ♪ ♪ ♪ ♪. maria: it is time for the hot topic of the hour former president trump at vice president harris hitting the campaign trail in north car carolina, trump will speak in asheville on economic hardships created by the biden here's administration. here is reportedly set to a release economic agenda on friday her campaign saying she plans to bring down cost for the bit of class intake on corporate price gouging. adt cowan report laying out the implications of a harris president including higher taxes, more investment in green energy, expanded child tax credit and trump's tariffs going out the window here's what one working-class mother had to say about the economy while harris has been vp. watch. >> a working-class mom who works as a paralegal cannot buy a 2-dollar bell pepper because it's now five. imagine a mother living on food stam

followed suit, joy to the conversation all morning long, bullseye american ingenuity fund manager adam johnsonne partner senior vice president emily to manage a new york city council minority leader job or valley, "mornings with maria" is live right now. maria: it is time for the hot topic of the hour, the here's the city the campaign holding rallies in wisconsin to wisconsin and michigan and a new ready-made tim walz here's the pair slamming their opponents in philadelphia. >> tim and i have a message for trump and others who want to turn back the clock on our fundamental freedoms. we are not going back, it's like a matchup between the varsity team in the jv squad. >> the ready-made scares is dangerous and back agenda for this country. these guys are creepy and weird as hell. maria: the new limited democrat ticket is being called the most liberal ticket ever as democrats try painting walls as a minnesota moderate who can deliver it the rust belt states, watch this. >> the promise of america is what makes it possible for two middle-class kids. one daughter of oakland california who was raised

adam johnson bullseye american ingenuity fund, jonathan hoenig hedge fund manager and fox news contributor what do you make of that and hoping that the fed comes to the rescue and some 15% bedding that it will get three quarter point cut, what do you think? >> interestingly before the sell off some of the strongest stocks had been the interest-rate sensitive stocks like utilities and even real estate those had been at multiyear highs just last week in anticipation of lower interest rates. on days like today it really is sell first, ask questions later it reminds me when elephants dance, my skin trampled, , the trend has changed 600 new lows, only 15 new highs and as they pointed out when you see a stock market like japan had the biggest decline since 1987, is certainly gives investors pause, a lot of reason of concerned that maybe this bullishness in the market led by a.i. and big tech has been a changing of the guard and in fact out of equity at large. neil: i'm wondering if you think this is overdone, the catalyst for all of this was a jobs report that we got out on friday, that showed a

maria: welcome back. 30 minutes before the opening bell for a wednesday, final thought, adam johnson j. lowest cpi inflation report many three and a half years, fed's cutting rates. maria: michael. >> -- as well as in the harris platform. maria: wow. todd piro. >> exactly what those two gentlemen said. [laughter] maria: we so appreciate you being here, see you again tomorrow. "varney & company" picks it up right now with a market that is up after that cpi. ashley webster in for stu. take the it away. ashley: good morning, everyone. indeed, i'm in for stu today. the big muse of the morning -- news of the morning, here are the numbers. july cpi inflation rate falling to 2.9%, below expectations of 3%. the core cpi inflation fell to 3.2. that was in line with expectations, but western point out this marks the first month with cpi inflation overall below 3% since march of 20211. more than three years ago. markets taking, well, at first a slight dip on the news although we've now turned modestly higher. the dow up 27 point, the s&p up a tenth, the nasdaq also a up about two-tenths of a pe

but, i mean, i have to say, adam, paul johnson, whom we rely on heavily at the institute for fiscal studiesve actually boxed themselves in by not saying that they would raise those three taxes. if they had, would they have won the election? i don't know. i mean, ifeel very, sort of much that i've heard everything from the ifs, and they're not actually the government, are they? no. i mean, you sometimes listen to radio four and you mistake yourself for thinking i voted as a voter for pauljohnson, but i didn't. and a budget is a political event, i'm sorry.- but i really don't want your calculator and your abacus to forget the british people. she will have to have a sense of history. she's the first female chancellor. i want to see a moment that rises to history as a voter. so i want a rabbit in her hat. i know she's going to. i've already been told she's got a club in her hat, but she's going to have to have if she wants to read what other chancellors have done. ever since there's been a red briefcase, she's going to have to have a rabbit in the hat. so she's obviously going to have a surpris

susan, adam, olencia johnson, thank you so much for being here.ed by civil rights leader to officially designate the site of the 1908 race riot in springfield, illinois, as a national monument. 116 years ago this week a white mob terrorized black residents for days hanging two black men and burning black-owned homes and businesses to the ground. the riot led activists to form the naacp six months later. >>> up next, profiting from addiction. damning text messages between the two doctors charged in connection with the overdose death of actor matthew perry. [laughter and giggling] [laughter] [laughter and giggling] got real serious for a moment. —okay. —whoa! [indistinct chatters] [laughter and giggling] [laughter and giggling] ♪ [suspenseful music] trains. [whoosh] ♪ trains that use the power of dell ai and intel. clearing the way, [rumble] [whoosh] so you arrive exactly where you belong. it's hard to explain what this feels like. moving piles of earth. towing up to 4,000 lbs. cutting millions of blades of grass. nothing compares to experiencing it

senior advisor david axelrod, michigan lieutenant governor garlin gilchrist, adam kinzinger, and chicago mayor brandon johnson. this event was hosted by the university of chicago institute of politics and is about an hour and a half. the institute of politics. you are watching live coverage on c-span2. >> to chicago to talk about voter engagement, voter registration to get people mobilizing getting people to participate in this is just such an essential part of >>>> what a great site for, not sore eyes, but old eyes. it is great to see all of you guys. when we knew the convention was coming here, we started having these discussions about ringing young people -- bringing young people from across the country to chicago to talk about voter engagement, voter registration may be the greatest threat to democracy is indifference. i was involved in a campaign in 2008 for president obama. if him a hand. you guys see michelle and barack last night? they still have it. but it was folks like you, young people across this country, who took a campaign that had nothing but an idea that we could mobilize people across the co

senior advisor david axelrod, michigan lieutenant governor garlin gilchrist, adam kinzinger, and chicago mayor brandon johnson event was hosted by the university of chicago institute of politics and is about an hour and a half.

you know, talking about katarina johnson—thompson, talking about adam peaty? out. you know, 0.02 seconds and things like that. is that something that is really gutting or are you just does that make it better in a sense that it was just so close? >> no, it's the worst. it's >> oh, no. in the world. >> oh, no. in the world. >> yeah. no, i've been there. i've been there with my myself. where you may have just missed out on a final. you may miss out on a medal , out on a final. you may miss out on a medal, you know, gold to silver, it's heart wrenching. i mean, those people who got silvers would have, like, gold. those people who've got bronzes with, like, you know, as a sports person, you want to be number one. you want to be that gold medal winner. you know, there's some people who have come to the games. you know, who didn't expect to get medals, which have got medals . so from which have got medals. so from that standpoint, it's been amazing . amazing. >> jamie, how how close were you to gold? what was the time difference? >> well, i we were about a second be

house republicans in particular are really adamant that accountability needs to happen and today's reassignments were not good enough for house speaker mike johnsonpretty scathing statement after the news broke earlier today yeah, some were you not on the same frequency and we know the answer, right. >> weren't even on the same radio system, zach, thank you for that. appreciate it still to come. why a second? former memphis police officers? changing his not guilty plea in the beating and death of tyre nichols after a traffic stop last year there for those first days and first steps, the new beginnings. >> and here we go again where these moments are made. there is where you'll find because it's never been about what we're here to help protect you from it's always been about what we're here to help protect you for your feeling out of step with their current big wire on his plan? switch to consumer cellular. >> all the dips. here's a priced out, out, out, storing that plan, starting at just $20. >> it's easy to switch to consume ourselves everywhere, but the seat proceeded. >> lebron now and we get a you love your bike? we do to that's why we're am

nancy pelosi, chuck schumer, adam schiff, pressuring the fbi in the summer of 2020 before the election to help joe biden. that's what senators chuck grassley and ron johnson say. >> yeah, it's very important to note that zuckerberg actually admitted to two incidents here and it's important to keep them separate because they have different problems for the country. one was he admitted they deep six the hunter laptop story, which was incredibly awful and terrible censorship. it came obviously in the run-up to an election. that information was true. they made it difficult for americans to see it. the second had to do with their response to pressure from biden and harris during the ongoing covid issue, and that was horrific in terms of public policy, because they were censoring scientists who deserved to be part of this debate and instead allowing this very elite group of biden-harris advisors and scientific experts to declare and define everything that was going to happen in the country. liz: yeah, i mean, covid-19 content when it was an experimental off the shelf emergency use vaccine that we hadn't seen before but had protein in it that people say, scienti

johnson is a senior advisor in the 2020 biden campaign. also, we have chief of staff of jon freemon and deputy chief of staff to harry reid. adam me start with you as a senate rtveteran both of the institution, of senate campaigns. for your take on this, like, what is going on here? why is there this enormous gap? >> well, i think you put your finger on one factor in your opener, which is trump has, like olivia rodrigo would say, suck the life out of the republican party like a vampire. but, i think the corollary to that is we live in a two-party system. when one party loses, the other party gains. what you are seeing is democrats are broadly popular. in politics, you always do this thing of testing a generic democrat on the ballot. it's something we often substitute for what the outcome of congressional elections are going to be. not to take anything away from the democratic that it's in these races in a way, you are seeing the effect of what a generic democrat performs against these republicans and a generic democrat performs very well. the democratic party is broadly popular. i think that is part of what ist generating these

adams, of course, writes monroe doctrine for james monroe. ulysses grant is a player notably in the civil war, but also a direct in the tenure of office act fight between president andrew johnson and congress after the civil war. and taft was theodore roosevelt's secretary of war and right hand man and. it's important to remember that taft earlier on in his career is civilian governor of the philippines. there's a tendency to think of taft primarily as judge, but his work in the philippines suggests a deep experience in executive authority that then translates into the presidency and to put this all together, i think the new understanding of what the state was doing gives us a host of issue areas to look for presidential power and looking for presidential power throughout the 1800s reveals extensive exercises of presidential power by numerous presidents. the this fascinating is also lindsay as historians you know, we love ranking presidents, right with every year there's a you know, a new ranking and things don't change all that much. but the three presidents that stephen is talking about so usually ranked very high on that list of presidents. so to if stephen is right and and

valencia johnson's a democratic strategist who served as a senior advisor in the kamala harris campaign. deputy chief of staff to harry reid and they join mimi, adam this, like, what is going on here? why is there this enormous gap? >> well, i think you put your finger on one factor in your opener, which is that trump has, you know, like olivia rodrigo would say, sucked a lot of life out of the republican party like a vampire. but i think a corollary is we live in a two-party system. when one party loses, the other gains. you are seeing democrats broadly popular. politics you test a generic democrat on the ballot, right. something we often substitute for what the outcome of congressional elections are going to be, and i think not to take anything away from the democratic candidates in the races, in a way you are seeing a generic democrat performing against these republicans and a generic democrat performs well. the democratic party is broadly popular. i think that is generating these massive gaps in the numbers. the question is will harris' numbers converge with the senate candidates or the other way around or will they meet in the middle? >> that

. ♪ ♪ mayor johnson: welcome to the greatest city in the world, chicago! where iw well and james adams to deliver real transformative change across this country. chicago where reverend jesse jackson united people from all different backgrounds to keep hope alive. and to a community organizer on the south side of chicago, barack obama rose to the white house reminding us that yes, we can. and now chicago, this city of hard work and caring people is where democrats will celebrate president joe biden and nominate kamala harris for president of the united states of america. as the son of a family that worked to make ends meet, i know that kamala harris, the daughter of a mom who worked hard every single day. she is going to look out for the interests of everyday people. i know, that as a fellow former social studies history that governor tim walz will not retreat from standing up for our democracy and for those most in need. and as a black man, raising a little black girl on the west side of chicago, i know that my daughter braden will see not only a reflection of herself in the white hous

. ♪ ♪ mayor johnson: welcome to the greatest city in the world, chicago! where iw well and james adamso deliver real transformative change across this country. chicago where reverend jesse jackson united people from all different backgrounds to keep hope alive. and to a community organizer on the south side of chicago, barack obama rose to the white house reminding us that yes, we can. and now chicago, this city of hard work and caring people is where democrats will celebrate president joe biden and nominate kamala harris for president of the united states of america. as the son of a family that worked to make ends meet, i know that kamala harris, the daughter of a mom who worked hard every single day. she is going to look out for the interests of everyday people. i know, that as a fellow former social studies history that governor tim walz will not retreat from standing up for our democracy and for those most in need. and as a black man, raising a little black girl on the west side of chicago, i know that my daughter braden will see not only a reflection of herself in the white house

criticised boris johnson for a similar thing in 2021, so i'm sure you will see mps say that as well, perhaps as soon as tomorrow dawn. 50011 as tomorrow dawn. >> soon as tomorrow dawn. >> adamthink what an awful lot of people, including myself, by the way, are having trouble getting their heads around. is how the parliament is in recess , how the parliament is in recess, right? there are lots of commuters. we've been hearing from some of them on the news bulletins. you know, their their properties are being torched . properties are being torched. their their communities are being ruined. you know, buses and cars are being burnt in their streets and parliament is in recess. i mean, have we heard any more about, you know, people actually, you know, our politicians getting back to doing their jobs. >> so there are some voices, priti patel chief among them, who are calling for parliament to be returned immediately so they can debate this. and there is precedent for it, in fact, to talk about 2021 again, which was dunng talk about 2021 again, which was during the withdrawal of troops from afghanistan. that was when parliament was was recalled under emergency conditions. so you m

adam, bring us the latest from this, from a political point of view. what's going on? >> well, so the government's cautiously optimistic that the worst is behind us. so we heard from diane johnsonst that that the worst has now passed and perhaps we're through this or at least the immediate rioting, whether we address the underlying problems that you guys have been talking about in the last few minutes is another question. i think this this means immediately the calls to return, or to rather, recall parliament, which is currently in recess , will we'll dial back in recess, will we'll dial back slightly the likes of priti patel, nigel farage calling for that. patel, nigel farage calling for that . but patel, nigel farage calling for that. but given patel, nigel farage calling for that . but given there's no that. but given there's no escalation, it seems, of these riots and protests that pose an immediate danger, the political reasons to do that for the government are much weaker. they didn't want to do it in the first place anyway. they argued that if actually the executive had all the powers it needed already. it's interesting you bnng already. it's interesting you bring up the