i'm david asman in for larry

joining me now who is not light, david asman fox business anchor extraordinaire. right, good number. june cpi fell a 10th of a percent. ex food and energy it was up a 10th. the last 12 month, the cpi is over 3.0%. that is over the fed's 2% target. core cpi, ex-food and energy is up 3.3%. i might add jay powell supposedly his favorite measure which is the cpi core services ex-rents, that thing is up 4.6%. now, david asman, i want your wisdom, the futures market is saying the fed is going to cut-rates in september, future maybe on. the futures market said they will cut rates as soon as the i started broadcasting as fox. >> you wisely counseled -- larry: since i started at fox 3 1/2 years ago. the futures market is always wrong. we believe in free marketing should the fed start cutting rates? >> no, i don't think it should. the question whether there will be political pressure put on powell to do that. however, the point is inflation, it is good that inflation came down but it came down for the wrong reason. it is not because there are more goods in society, because

david asman and for stuart varney.y but democrats

david asman and for stuart varney. stuart is going to return tomorrow. congress returns today but democrats are deeply divided about the president's reelection prospects for senior democrats. the reportedly calling for president biden and his reelection bid. biden says only the lord almighty can't convince him to step down. the next big item on his agenda is the nato summit that kicks off on d.c. tomorrow president biden is hosting high-level talks of nato leaders next week he will deliver speeches in las vegas. it is a counter programming to the republican national convention, speaking of which it does convene just a week away. that is when donald trump will officially become the party's nominee. trump also says he's going to announce his vp picking milwaukee but is been vague about the details of that announcement. to the markets, the dow, the s&p and the nasdaq are all showing green arrows, it looks like in the beginning of the week is going to be a good day. the ten year if we could take a look at the interest on t

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david: i am david asman in for neil. markets digesting comments for jerome powell, who said we are in a disinflation. market analyst francis newton stacy. what do you think of this? i am surprised the markets didn't rack more favorably to suggest inflation coming down. >> reporter: they didn't act more favorably, it would take a lot more data, inflation is not something. we have unemployment above 4%, that's not out of control, growth trending around the 2%. inflation is coming towards 2%, there wasn't a catalyst although the labor market, there isn't a catalyst. what he fears is if he preemptively lowers rates, that could cause reacceleration of inflation. some fun comments where he said you could do it too soon or too late. the risk is on both sides of doing too sooner too late and also particularly said they ask about political policy and trade tariffs, they asked about the new rate. one of the most effective communicators. david: i love your adverb cheekily, he does have that. he's doing it based on history. in the 7

. >> hello welcome to special kudlow i'm david asman in for larry kudlow, supreme court issued their most high profile and historic decision of the year. majority ruling that presidents have immunity from prosecution for official acts note necessarily so for unofficial acts, high court punted this back to a lower court further delaying jack smith case against the former president we'll track about it with gregg jarrett and will scharf in a moment but first lydia hu with details on the landing mark ruling. reporter: we have that ruling this morning, from a divide supreme court. saying that former president trump has limited immunity and special counsel jack smith criminal prosecution of alleged election interference, coming down 6 to 3. chief jus justice john roberts writing for the majority: and saying that immunity applies to all occupants of oval office regardless of politics, policy or party. liberal justices dissented. justice sonia sotomayor writing this for example: reporter: now, the case is remanded to lower federal trial court to determine whether trump's 4 felony counts in

neil: microsoft and overstocks, big players, the chipplayers, david asman with us, microsoft in one corner numbers they made were extraordinary. it's all about expectations, it was 2% short of what they were expecting. the cloud unit alone came in with revenue of $28.5 billion, that was 2% short of what they were expecting, huge numbers but they were expecting more. some investors saying it was a great time to buy, you are still down 10% from your higher month ago. it gets down 2%, some folks saying it is stable, revenue making hand over foot, revenue is coming in. one person who's not buying is nancy pelosi, the figures congress is forced to come out with, sold between one to $5 million worth of microsoft in order to buy one million dollars of nvidia. she is switching from microsoft to nvidia. a lot of other long-term investors saying it is in the long-run a great thing. neil: great numbers, spending on ai is off the charts which is why players are doing so well. again, to his point here. the disappointment for the day, for all the other players who are still counting, spending $19 billio

let's ask chief strategy officer david asman of fox business. let me begin with you on this notion that it isn't out of the realm of possibility that fend futures are looking at that happening this week. i can't see it. what about you? david: there was a piece that has the pulse of what's happening in the fed and the wall street journal suggesting so many mixed signals, we won't get a clear distinct view from fed chief powell when he talks to the press. the nasdaq is down significantly. it is more significant to rates, the higher the rates go the worst for the nasdaq. because of these mixed signals, we had a good cpi number the consumer inflation number followed by a bad ppi number, mixed signals on the growth of the economy, friday we get the jobs report for july which could be critical, we had a good jolts report this morning available jobs number, more available jobs than we are expecting so all kinds of mixed signals make it difficult for the fed to have a clear idea that september is time to cut rates. adam: you could make the argument a lo

. ♪ >> hello, everyone and welcome to a special edition of kudlow, i am david asman and for larry kudlowjoe biden facing growing pressure from within his own party is more democrats call for him to drop out of the white house race amid a string of missteps and failures all over the world attempting to call the backlash. the president is holding a rally in belgrade, wisconsin and sitting down for a televised interview with abc, first since last week's business debate permits. reaction from congresswoman claudia any and russell fry in a couple of moments but first, we begin with grady trimble live inside with the latest on what's happening politically. >> of the kids an overstatement to say this evening and thweek ahead are possibly the most important days of president biden's decades long political career trying to assure voters and members of his own party still up for the job after the terrible debate performance last week. just wrapped up the rally in madison, wisconsin. he spoke for about 20 minutes or so, much higher energy and much more forceful than his debate performance but the s

i'm david asman in for larry

i am david asman in for stuart varney, let's get straight to your money all in the green is started outh lower than what is happening on the dow up over 200 points, the s&p is up 11 in the nasdaq is gaining a little ground it is up 24.7, the yield on the ten year is up about .9 basis point to four-point to eight, oil is trading down and well over $80 a barrel at $82.75. bitcoin is up $760 to 57000 almost 57.5, just a moment ago, president biden spoke to msnbc and joe scarborough's calls grow within his party to drop out of the race. biden said he is not going anywhere. roll tape. >> all the data shows that the average democrat out there who voted 14 million of them that voted for me still want me to be the nominee and the average voter out there still wanted joe biden, i'm not going anywhere and i wouldn't be running if i didn't absolutely believe i'm the best candidate to be donald trump. david: joe concha joins us now for details. it's in a boilerplate, this is part of his cleanup on aisle five and he had the big try with george stephanopoulos on friday and did not change many minds w

i'm david asman in for stuart varney. he'll be back tomorrow, don't worry. the dow is the big winner right now up 170 points, s&p up about 5 points, 4.35. nasdaq up -- 4.5, nasdaq up about 10. give them an extra three quarters of a point. big tech and they're all in the red and president biden spoke with msnbc and during the wide ranging talk he took a shot at donald trump's wide ranging vision for the future. >> don't see a lot of ceos talking to trump or the major economists talking about what i've bye bye bye able to co. i don't hear anybody talking about his economic plan likely to bring america around and keep america first. david: steve forbes joining peak spl now. it's the simple phrase that ronald reagan used, do you feel better now than you did four years ago? overwhelming majority of americans say no, they don't. how can he sell something that americans say isn't true? jot real inflation rate is twice what it was and people don't feel that i can talk about wages going up but a slower pace than a year ago and peep don't feel they're getting ahead, a

. ♪ >> hello, everyone and welcome to a special edition of kudlow, i am david asman and for larry kudlow

i'm david asman in for larry kudlow. it's the end of a very historic week in milwaukee and all over the country and donald trump accepting the republican party's third nomination for president last night. just days after the assassination attempt at his rally in pennsylvania. the former president took on a somber tone urging americans to unit while vowing to reverse the biggest failures of the biden administration. coming up, we'll be talking about all this with senior trump campaigner al alena haba. >> democrats and republicans across the country trying to digest the longest speech and longest in convention history and apparently it started often with a very changed tune, which is what the campaign said the president would do. watch. >> as americans, we're bound together by single fate and shared destiny. we rise together or we fall apart. i'm running to be president for all of america, not half of america. because there is no victory in winning for half of america. reporter: also a very touching tribute to fallen fire

it is a bit of a controversy to put it mildly, david asman understands this far better than i ever will you make of the tightness of the race that is claiming victory. >> it was not tight the day of the race, as of sunday morning i called them a dictator, maduro was down 25 points all of the independent polls that were done showed him getting really, really whipped badly by his opponent, suddenly he's ahead any claims he's ahead the moment the polls are closed and he keeps out pull watchers worldwide independent pull watchers he kept them out he's done all kinds of shenanigans of the passage nobody believes this is true that's why the biden here's had sanctions put back on him the one spectrum put on they took him away about a year ago but in april they put him back because he was keeping candidates off the ballot. we should mention who he is, hugo chavez was his predecessor he was the godfather of socialism. you want to use a film analogy the godfather was hugo chavez and radio is the current president he's kind of a secondary chavez but using theft to votes in the past and all kinds o

i'm david asman in for larry kudlow. the supreme court issued the most high-profile and historic decision for the year, majority ruling that presidents have substantial immunity for prosecution, for official acts not necessarily unofficial acts. the high court punned matter back down to the lower court further delaying jack smith's case against the former president. we'll talk about it with gregg jarrett and will scharf in just a moment. first lydia hu standing by with details on the court's landmark ruling. lydia. >> reporter: david we got the landmark ruling from a divided supreme court that former president trump has limited immunity in special counsel jack smith's criminal prosecution of alleged election interference. the opinion coming down 6-3 along idealogical lines, ruling that former presidents can be prosecuted for unofficial acts, immune from prosecution over official acts. chief justice john roberts writing for the majority this, the president therefore may not be prosecuted for exercising his core constituti