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tv   Varney Company  FOX Business  May 9, 2024 11:00am-12:00pm EDT

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the all new godaddy airo helps you get your business online in minutes with the power of ai... ...with a perfect name, a great logo, and a beautiful website. just start with a domain, a few clicks, and you're in business. make now the future at godaddy.com/airo >> we have an inflation problem and by the way, we're about to have a tax problem. he wants to raise taxes and we
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have a spending problem because we spend too much money. >> what about being on trial and an all trial in court and in the polls it shows it's not hurting him. >> restraining israel and r emaining in their borders and having iron dome resupply and that's it. they'll sit there and wait to be hit. this makes no sense. >> i want cases decided on the merits and not on politics but there's thomas mancino question z georgia is. less hostile terrain for donald trump. >> it's willingness to use the fight of the jewish people f ighting for political benefit and turn around and kick israel in the face. and my big concern for biden is the policies.
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stuart: i know that song. tempations and it's 60 degrees on a cloudy day and it's 11:00 eastern time and nasdaq up 30 and s&p up 18. big tech northeastly higher this morning. all of them are higher except for alphabet down a mere 20-cents. the rest are up. 10-year treasury yield, 4.5%? no, down a bit at 4.48%. now this, how does he get away with it? he sits down for a rare tv interview and spouts nonsense. he told erin burnett it was 9% inflation when he took office. no, it was not, it was 1.4%. the president knows this, doesn't he? why does he keep saying it? he loses credibility.
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he blames that 9% inflation rate on corporate greed. he's wrong again. it was biden's wild spending and the fed's printing of trillions of dollars that made prices spike. then he droned on about cutting the size of a snickers bar without cutting the price. shrinkflation. that's not a serious analysis of the inflation problem. he said to have created 15 million jobs. wrong, they came back when the pandemic lockdown ended. burnett sat there and spelled it out to him. monthly cost of own ago home has doubled on his watch, real wages after inflation are down on his watch, growth is slowing, consumer confidence at two-year low. burnett laid it all out and the president said this -- >> let me say it this way, when i started this administration, people were saying there's going to be a collapse in the economy. we have the strongest economy in the world. let me say it again.
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in the world. and that's true. stuart: at best it's mitt cal spin. at the worst, the president is delusional. the third hour of varney starts now. ♪ lisa boothe joining me this morning. why does the president say these things. he must know they're not true. >> well, does it matter? >> does he believe it? i mean, good for him. the cost of owning a home d oubled under ziti watch. how often do you hear that from the mainstream immediate .y good for erin burnett and we as a network and fox business and news holds his feet to the fire. but where's the rest of the media? he doesn't have an obligation to tell the truth when he can gas lite the american people and they'll back him up. they'll
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lie to us too. fortunately as sad as it is, people are fueling the impacts of the economy and, you know, he can try to lie to them and gaslight them, but they feel the pain. stuart: yep. take a look at this. it's an opportunistic ed from the new york times coat quoting young voters aren't happy with biden but will they banded him? okay, lisa, will the young people vote for trump or will they just skip the election day all together and say home? >> i don't know. younger voters going for tram and a lot of people talking about looking at the issue of the war in the middle east. is this going to impact joe biden? i looked into the latest michigan poll for fox, and i dug into the cross tabs and what was interesting is donald trump is winning michigan voters under a 35 by 16 points and majority believe he'd be better on foreign policy but look at specific issue of the middle
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east war, they believe joe biden has it just about right. digging in with young voters, there's conflicting information and a majority believe donald trump would handle the economy better. we're so far out from the election and from early voting as well. i don't know if we have a great understanding of the issues that are specifically going to dominate heading into election day and early voting. stuart: i want your comment on embargo of volting and israel g oing into rafah. i've said i think biden is h elping hamas survive. what say you? >> we've been on both sides of the world and joe biden unfroze that $6 billion to iran and we know that iran is funding this war. iran is hamas' largest funder so
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that's what they want. i think it's sad that joe biden has essentially sold out israel and longest standing allies in dearborn, michigan. does that win him the election? i don't know. as i pointed out, majority of under 35 voters in the state of michigan believe donald trump on foreign policy at large is better. so selling out our ally to try and win an election, will it work? i don't know. stuart: i hope it doesn't. lisa boothe, thanks for joining us. always appreciate it and see you again soon. thank as lot. >> see you, stuart. stuart: the markets and same position as before. we're up 200 for the dow, 40 for the nasdaq and 20 for s&p. investor business daily and executive editor joining me now. synergy home are you avoiding, i'm told you're avoiding, airbnb and uber stock? what's the problem with them? >> getting gap downs on e arnings, i mean, that spells out weakness right there. doesn't matter what the results are and airbnb turned in some
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pretty decent numbers but doesn't matter what the numbers are. what matters most is that reaction and it was a really bad reaction to earnings today. when you get that kind of gap down, odds are that you continue to see weaknesses and stocks trending above the 50 day lines and you and i talking uber in november and that was the time to be in the trade. it was in a position of weakness heading into the report and continuing to look weak now. stuart: you'd not buy uber this small bounce? wouldn't buy it? >> i'm not a dip buyer. i want to see stocks trending above rising 50-day lines and uber is not doing that. stuart: why is robinhood the stock to watch? >> it was last night after e arnings were reported and initially there was a strong reaction and even before the open, but i think it's another great example of why you want to
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make sure that you're looking at the action at the open and s eeing what that reaction is like because that overnight action doesn't necessarily always translate to your regular session and things were looking good in the hood, stuart, but a quick reversal here is not very inspiring to me and they were looking dee sent into the initial report and it was strong but action like this that continues to make me want to lean on index etx and megacap text stocks in the exposure. stuart: you want to go back to megacap tech stock s? >> they're the safest trade. ai continues to dominate; right. i think that's where the money is flowing and where it c ontinues to be and some of the consumer or speculative trades are volatile out there and catapultedtive to traders and big cap tech is where it's at. stuart: it's safe. downside risk with some of the
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stocks on the screen, your downside risk is very limited. i don't see these guys falling out of bed. but at the same time, you're upside potential is limited because they've already gone up so much. so it's just a safety play; right? >> kind of. companies like nvidia are t urning in stellar growth and even google, that's really what buoyed the market when it r eported earnings not all that long ago. you can get that outperformance but if that's the key; right. look for the ones outperforming the market and not just keeping up with the market. got it. thank you,. see you soon. stuart: lauren is back, she never went away. she's looking at tesla. what do you have? lauren: down 1% and a report that they're ramping up job cuts now in china because sales there have also slowed down so this is four straight weeks of job cuts. their chinese rival nio l
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aunching a cheaper brand, family brand next week, think mini van and tesla has a lot of competition. stuart: yes, they do. bumble. lauren: fun story. more paying users and more downloads in the quarter up 18%. stock's up almost 7%. what they're doing is m odernizing online dating. bumble is where the girl made the first move. they're going back to t raditional dating. women no longer have to make the first move. anybody can make the first move. stuart: that's fascinating. why, why is that? lauren: because maybe females were getting tired of doing it. i don't know. they didn't say why but said what the woman can do is ask like an opening question and then potential responder hads to answer that and if she liked the answer, then you could match. stuart: one of these dais i'll have to chip in and try this o ut. the cheesecake factory. lauren: surging. traffic steady and cost d eclining and raymond james said time to buy and stock going to $ 42 and winner in softening restaurant category. stock up 8%. stuart: they're going to 42 from
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36. lauren: yes. stuart: i don't know if i'm that excited. lauren: upgraded to outperform. stuart: okay. lauren: good numbers out of cheesecake factory and take a date you find on bumble after the man makes the first move to cheesecake factory. stuart: moving swiftly along, lauren. ly i brought them all together. the three stocks. stuart: thank you, lauren. thank you. coming up, republicans want to hold attorney general merrick garland in contempt of congress. they're accusing him of impeding their impeachment inquiry into the president. the full story coming up for y ou. administration is pushing for a green revolution but china has a strangle hold on the materials needed to make the revolution. reality check will break that down for you shortly. president biden is telling israel not to invade rafah. watch this. >> i made it clear if they go into rafah, they haven't gone in yet, if they go into rafah, i'm not supplying the weapons.
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stuart: does that ultimatum show we're abandoned israel and h elping hamas? put that to congressman mike waltz next.
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including doctors, are choosing gentlecure. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. >> i made it clear, if they go into rafah, i haven't yet, if they do, i'm not supplying the weapons used to deal with rafah and deal with the cities and deal with that problem. stuart: congressman mike waltz, republican from the great state
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of florida joins me now. congressman, israel says that weapons pause could sabotage hostage talked and a ceasefire deal. in my opinion, biden is banded israel and helping hamas. what say you? >> zurich i come from the 9/11 generation and fought terrorism all over the world and never thought i'd see a u.s. commander in chief negotiating for the terrorist and establishing red lines for the ally and israel's strategy here is obvious and they're going to continue to apply pressure on hamas to release the hostages and biden releases the pressure. and it's one thing for an argument over weapons and it's another that they leak it had and in the middle of the negotiation. this is pure politics, stu.
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this is all about biden's political team >> now walking away from the ally in a war and it's insane. stuart: that's incredible that a president of the united states -- go ahead, sir. >> by the way, just a few years ago, the democrats are all over the air waves saying and j ustifying impeaching president trump for the accusation that he withthem. stuart: when a president of the united states should abandon our oldest and most promising t ally in the unit is extraordinary. what's the fallout within the democrat party? what about the jewish vote? what's jewish senators and congressmen?
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>> look, this shouldn't even be about politics and it should be about getting hostages out and destroy ago terrorist organization that's openly s aying they'll do it again meanwhile with this coming from biden with him tapping the b rakes on military aid, you have celebrations in teheran and hezbollah and hamas and houthis and they believe they're w inning. why the heck should they cave on any kind of negotiation? stuart: right, they are winning. i'm going to change the subject for a second. donald trump says whenever he has a military question, you know what's coming, he comes to you. so if trump had a second term, would you take a job in his cabinet if offered? >> stu, no one and this is a bad habit in washington dc, no one
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should be measuring the curtains for any kind of job. we need to be laser focused on doing everything we can to help him win but i will say this, if you remember a year ago the mainstream media was saying nobody would want to work with a future president trump. if you look up on the stage in mar-a-lago, you had a deep bench of republican talent, you had a lot of great americans up there that want to fight for him, believe in his agenda, and when he wins, if he asks, then we'll absolute and move out and serve the country. stuart: congressman, i'm dying to get your response to this last subject. the migrant agenda refusing to leave their outdoor encampments unless and until the city meets their long list of demand and that list includes fresh food they can cook themselves, medical care, access and free immigration lawyers and doctors. congressman, what do you make of this? the classic example of the
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entitlement mentality? >> i'm sure this whole list of demands was written by entitled progressives but i've got to tell you, my fresh ingredients provided by the city. no tv dinners for them. no mres for them. i grew up on tv dinners from a single mom and at mres in the army. and the no time limits on the showers by the way. all provided by u.s. citizens. when i see a veteran not getting what they fought for, a homeless veteran and progressives letting the people n the sad thing is they'll probably get their list of demands from the progressives in denver and veterans won't and fellow americans won't. it's shameful. stuart: it's a disgrace. congressman mike wattle, waltza pleasure talking to you. come back soon. john kerry slamming president trump for pulling out of the
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iran nuclear deal. ashley, what is he saying? ashley: kerry said the decision made americans "less safe". the former secretary of state said withdrawing from the deal created a more danger yous region and empowered iran and isolated the united states instead of isolating teheran. kerry oversaw the completion of iran agreement back in 2015 and claims the deal was working till trump's decision to withdraw caused iran to become more aggressive. if you remember, the agreement provided teheran with billions of dollars and sanctions relief in exchange for accepting limits from the nuclear program. trump call it had a horrible one sided deal and then in 2018 withdraw the u.s. from the pact winning praise from saudi arabia and israel calling it cage yous leadership. not apparently according to john kerry. stu. stuart: thanks, ash.
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back to the market and closer look at winners. caterpillar, amazon, amgen and they're all winners on the dow. missouri attorney general wants the justice department to hand over all communications to investigating or prosecuting donald trump. were these prosecutions coordinated by the department of justice? that's a no no. we'll ask the missouri attorney general, next. ♪
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lauren: duo lingo is down and they grew daily active users to over 30 million and the issue is they're growing at slower expirate stock's down despite raising guidance fors year. we haven't heard that from any companies but it's a severe
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reaction. stuart: another stock selling off sharply is roblox. lauren: yeah, dialed back current quarter revenue guidance and not just us saying it looks severe but web bush saying it's a harsh reaction to numbers not terrible and wall street e xpecting more from companies in an economy they see being uncertain or slowing down. stuart: two republican officials are urging the department of justice to investigate ex-trump attorney michael cohen. why, ashley. can you tell us? ashley: yeah, house judiciary chairman jim jordan and james comer of kentucky coming together and again we're t hrowing cohen to the justice department after allegedly lying to congress in a 2019 hearing. cohen, if you remember, pleaded guilty in 2018 to campaign finance violations making false statements to congress and tax
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evasion and seasoned to three years in prison. the republican leaders have sent a letter to attorney general merrick garland that manhattan d a alvin bragg's ongoing case against president trump placed on it'll from cohen calling him a repeated liar and saying the bragg case relies heavily on cohen's testimony and credibility and testimony that's questionable at best based on cohen's track record. stu. stuart: thanks, ash. attorney general of missouri wants the justice department turning over all investigation on the people prosecuting or investigating donald trump. andrew bailey joins me now. sir, do you believe the prosecutions have been coordinated by the justice department? that's a no no i guess. >> yeah, that's right.
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deploying personnel in a political campaign against president trump 24 a form of election interference. we knew the cases themselves were elicit and prosecutions and we have every reason to believe the prosecutors are elicitly motivated and bringing frivolous suits not supported by the facts or law and they're politically motivated in violation of the cannons of professional conduct and we know that matthew co-angelo was a top official and now gone to work for and leading the prosecution for alvin b ragg's office against president trump. this is a level we've never seen and department department of jd we've got to scrutinize this and hold individuals accountable. stuart: you want the records but i'm sure the department of jus dis-will drag it is feet. how long can they drag this out for? till after the election probably. >> we're not going to let them
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stone wall the inquiry and need the records to shine the light of truth and transparency on level of collusion in the politically motivated witch h unts. we've got to provide that evidence in the public domain which i believe will undermine the credibility of any illegal convictions obtained in this matter and we want records between jack smith, department of justice, alvin bragg, matthew coangelo and the public is understand the illicit motivations of the profession cushion themselves. stuart: are the cases falling apart? >> absolutely. not supported by the facts and the law and prosecutors have ethical obstructing obligatiot and bend the law. the fact they're motivated by politics and politics and alvin bragg campaigned on prosecuting trump and a civil litigation for letitia james' office and disqualifying him from the
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prosecution and the department of justice and acting as ethic quarters deploying personnel like matthew coangelo in the state-level attacks. stuart: the plan was law fare strategy and go after trump on as many charges possible and bring him into court and convict him before the election. it looks however as if there's only one trial that's going to be completed before the election and that's the hush money trial in new york right now. >> yeah, that's right. again, ill luisa it political witch hunt and not a prosecution brought by a legitimate prosecutor prosecutor and another faucet to this and every day our -- facet to this and every day trump's political opponents using law fare and holding him and keeping him off the trail. it's a political campaign election interference. stuart: yeah, that's election interference. thank you for joining us this morning on the important s ubject. we appreciate it, sir. see you again soon.
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house republicans think biden hindered the impeachment probe. what's garland being accused of now? ashley: having hindered and i am paided their impeachment inquiry into president biden. how? well, by withholding an audio recording of the conversation with special council robert hur. lawmakers say they subpoenaed the attorney general to provide the materials on a number of occasions but were refused justice department turned over numerous documents and special council interviews has lit toll do with gop impeachment i nquiries and republicans are now deciding whether to move forward with a resolution and holds garland in contempt to the full house floor. stu. stuart: thanks, ashley. later, we have king charles n amed prince william of colonel in chief of army air corp..
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that's prince harry's old military regiment. that's a slap in the face to harry. we have it covered. president biden pledged over a trillion to fund infrastructure and green energy projects but only spent a small portion of the money. is he going on a spending blitz before the election? we have a report from the white house next.
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stuart: show me bitcoin. around 62, 61,000, 16.9 at the moment and donald trump said he's now accepting crypto donations and if you're in favor of crypto in any form, you'd better vote trump. okay. that's endorsement i guess. time is running out for president biden to distribution taxpayer money he's earmarked for climate and infrastructure projects. >> the president is on the spending spree and represents 17% of 1.1 trillion that's been allocated for climate change and the bill and. co-ing from the american rescue plan and coming from the chips act and inflation reduction act and part of the total 7 trillion signed into law and president and president biden making the case and s pending and creating a economic
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boom and taxpayer money will not stop. >> when i started this administration, people were s aying there's going to be a collapse in the economy. there's the strongest economy in the world. let me say it again, in the world. reporter: the president goes onto say it's worry some and working to lower costs and he's using in line to work to lower cost for some people about three years and some economists say the government spend asking overall prices up and 19% overall when -- since president biden came into office and food up 21% and >> american people are streaming and shutting out american energy and shoveling cash into the economy and debt 39 trillion and inflationary pressures and look, the blame falls on his lap.
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>> reporter: people are struggling to hold on to the lifestyle we had and president biden came into office. stu. stuart: thanks, edward. now this, biden's green agenda could be a big moneymaker for a foreign country. ashley will tell us which foreign country. ash. ashley: yeah, that'll be china, why, well, because analysts point out that china almost totally controls the production of clean energy components and includes parks necessary for the building of solar panels and electric car batteries and the majority of the manufacturing capacity for the production of wind turbines. china dominates the green energy supply chain. for instance, it produces 80% of the world's solar panels and u.s. make as chopping 2%. china was investing heavily in china -- rather in africa for years and billions and billions
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and edward pointed out of d ollars to promote renewable energy and electric cars and bay ginning saying thank you very much, mr. president. achier thanks, ash. the u.s. could soon ban chinese vehicle exports -- imports rather. chinese vehicles coming in and we ban it, why? lauren: national security concerns and smart cars equipped with cameras and sensors and monitor the driver, passenger and end their personal investigation and get data on our roads. our infrastructure and this is a warning shot and coming from commerce department and chinese smart evs and eventually come here. the commerce department c onducted an investigation and now deciding what action do we take? extreme? outright ban? safeguards and tariffs and consider how china would react to anything we would do because as ashley noted a lot of parts and components we need come from
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chai that . >> a domestic auto industry. lauren: absolutely. stuart: letting the chinese in, cheaper and better better and e over from detroit ask they can't have that happen. that's what's really going on here. thanks, lauren. show me the dow 30. time to do this and i see plenty of buying. dow up 168 and i only see five losers amongst the dow 30. then there's this, prince harry back in the uk for invictus g ames and not meeting with his father because king charles was "too busy". what does that say about the prince's standing in the royal family. we'll have royal watcher cara kennedy next. ♪
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there's another choice. gentlecure. it sounded like everything i had been looking for. gentlecure uses low energy x-rays to kill skin cancer cells with a 99% cure rate. plus, there's no cutting, no surgical scarring and no downtime. i'm so glad i did it. it was successful in every way. to learn more, call today or go to gentlecure.com stuart: there's some price movement and dow up 160 and nasdaq up 26. now this, elite club in london is changing it is membership rules after nearly 200 years. lauren. lauren: this is the garrick, you're looking at it. it voted to allow women n. 60% said, yeah, do it. it's been all male since 1831.
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it's a stomping ground for e lite, lawyers, politicians, actors. why would women want access. do women want to go where decisions are being made and they did it for the sake of gender equality. stuart: it's the powerful p eople. lauren: you think it's okay to let the women? stuart: of course. lauren: i don't want to go to all man's club. stuart: would you want to go to this one now that they're l etting women? lauren: i don't think so. stuart: i've never joined any of those clubs at all. stuart: thank you, lauren. prince harry returned to london to celebrate the invictus games and did not meet with his f ather. king charles was "too busy to see him".
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cara kennedy joining me now. the king and prince a few miles apart on wednesday. cara, is this a total permanent split in the royal family. >> this was a huge shot in the face and there's more about it than others we've seen. it's a reconciliation was on the cards, it would certainly be when the king was undergoing cancer treatment and you'd think that there was time to sweep something under the rug it would be now. the royal family needs health and bodies and the duke of kent 88 years old and picking up the slack and stepping in. when the royals are slick and undergoing different treatments so for harry to be so banished even in the moment of need, this is going to stay. stuart: there was another slap in the face it might be called and buckingham palace announce
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that had prince william will become the colonel and chief of army air corp.. that was prince harry's former military regiment. that's a slap in the face, isn't it? yeah, prince harry served with this unit in afghanistan so it's obviously a huge blow for him. what do you really expect, what does anybody expect? this is the title family business and can't dip in. it's not a local sandwich shop but british monarchy. prince william being chosen is obviously the right decision. he's the one that stuck around and he's the one that's put in the work. he deserves to have the fun side of it as well. stuart: has kate middleton, has she made any public appearances recently? >> we haven't seen anything yet. there's a lot of talk right now whether indicate and harry will see each other and i think the consensus is that prince william will keep her as far as way from
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harry as possible in case harry sees as another way to cash in with the american news cycle by saying, oh, i've seen kate and she's doing well. et cetera, et cetera, i think particularly for the time that harry is in town, which is the next few days, we won't be s eeing anything of kate. stuart: what does the british publish think of prince harry and his wife? >> i think the british opinion hasn't really changed since 2020. as soon as harry stepped away and half in and half out and said we don't know. we're all in con ken suspended ands. university of idaho roommates, you're not going to come back. we're done with you. this was such a split with the american side with the americans kind of tucking them in. and wanted to support them and kind of saw those sides.
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but i think now everybody is of the consensus that meghan and harry are free loading celebrities that just want to make jam. stuart: do you expect harry and his wife to stay together? >> i mean, it would be dumb of him not to. i don't really see what harry would benefit him to not. he's already made his bed and now has to lie in it. i think earlier on, a lot of people thought he'd be welcomed with open arm ifs it was just him. now it's gone too far and i think it's been long enough that britain wants him to stay away. stuart: back to my original question. is a permanent total split within the royal family, it cameras in the area going to get healed any time soon.
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last word to you. >> yeah, that's how it seems. if there's any time to make up and become a family again, it's when different members of a family are going through cancer treatment, it's the time you really need your family. you want family support. and the fact that harry is being banished to a hotel when there's many empty royal residences he could have stayed in, they've made their mind up. stuart: i didn't know he was b anished to a hotel. that's very telling. >> yeah. stuart: that palace has a lot of rooms. cara kennedy, thank you for j oining us. see you soon. thank as lot. better check the market, i still see green. dow is up 170, and p13, and -- s p 13 and nasdaq 76. caterpillar, home depot, amazon, amgen those are the best winners on the dow 30.
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s&p 500 winners and see if this is a opportunity to quote s tocks, equinox, nrg, clear way energy and corporations and builders first source. don't know many of them. nasdaq composite and clear way energy and trade desk, door d ash, starbucks, booking h oldings, they're all higher and yield on 10-yore treasury -- sorry, 2-year is backing further away from 5% at 4.38% and the market likes that. 10-year, 44 and will backing away from 4.5% and price of gold up $13 at $2336 and bitcoin was at 61, 62,000 right now, just above 62,000 and oil, that has come down. the low $80 a barrel and moving further lower and 78.97 as we speak. it's right now 11:55 on the button. that means it's time for the thursday trivia question. all right. what was the average length of
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the movie in 2022 if you care? okay, one hour 34 minutes, one hour 40 minutes, one hour 47 minutes or one hour 55 minutes? i have no idea. lauren: making it shorter. stuart: looks like they're m aking shorter movies. the answer when we come back. ♪ .. (♪) at enterprise mobility, we guide companies to unique solutions, from our team of mobility experts. because we believe the more ways we all have to move forward.
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stuart: interesting trivia question. when asked what was the average length of a movie in 2022. you can read the choices on screen. you are first. ashley: oppenheimer was three hours. i will go with number 2. one hour and 40 minutes. lauren: an hour and 47 minutes. stuart: i will go with number 4. one hour and 55 minutes. there have been some very long movies recently. the answer is one hour and 47 minutes. in 1930, the average runtime was one hour and 17 minutes. there has been a 32% increase in run times for films. thanks for being on the show. coast-to-coast starts now.

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