tv Varney Company FOX Business August 16, 2022 9:00am-12:00pm EDT
cool this is his biggest year ever. amazing. of. dagen: it is amazing. mark, real quick? >> elvis is still alive. he's on an island with tupac and notorious b.i. gi., they're all hanging out together. dagen: i love that. and i know that stuart varney went to university at the same time as mick jagger, but that's my stuart or varney if knowledge for you. stuart: that just popped out of nowhere. i shared a tutor with mick jagger at the london school of economics back in the 1960s. dagen: 'cuz you're cool. a. [laughter] stuart: i was cool then, not now. [laughter] walmart employs more people than any other american company. it is the biggest bricks and mortar retailer, and it just reported its biggest profit ever. its sales total $152 billion in just a three month period. as you can see, the stock is up bigtime. here's another, home depot. profits up, same-store sales up,
but the sock is down. go figure. maybe the analysts have spotted something they don't like. the sock is down about 1.5%, and it too is a dow stock. stocks overall opening mixed this morning, pretty much down. i keep saying it, things do seem to be calming down. of course, that could be just the summer vacation season, summer doldrums. but look at this, the dow is down 60-odd points despite home depot, which is down, and walmart which is up being dow stocks. s&p's on the downside, nasdaq down about 30 points. not that much movement. interest rates, they're holding fairly steady at 2.82% on the 10-year. oil is coming back, now $89 a barrel. it's up all of 20 cents. gasoline down 1 cent this morning, $3.94 is your average. diesel down one cent this morning at $5.02. dare i say it again, relative calm on the financial markets. but there's plenty going on in
politics. oh, yeah. first off, attorney general merrick garland will not unseal the affidavit used to justify the raid on donald trump's home. that's not going down well with the republicans. hay want to know how garland could organize this unprecedented action without revealing the reason for it. the president breaks his vacation for one day, he returns the to the white house this afternoon to sign the inflation reduction act of 2022. china suggests american workers are lazy, and the government -- our government -- is incompetent. top banker jamie dimon is making waves saying there's some truth in that. now, he's not saying our workers are laze -- lazy, but he is saying our government is incompetent. also we're going to introduce you to peggy roe. she started writing books when she turned 80, and she's now on her third which is titled vacuuming in the nude and other ways to get attention.
if tuesday the, august the 16th, 2022. "varney & company" is about to begin. ♪ ♪ stuart: all right, folks, here we go. like the music. get ready for this, indeed. how are the retailers doing? if walmart and home depot. very well by the looks of their financial reports this morning. what does this tell us about the economy, lauren simonetti? lauren: we still don't know what the deal is with the economy. it's a very tough question to answer. i think every company is trying to figure out. i'm going to go with the economy has slowed and slowed sharply. walmart's earnings, sales up 8 36r9, almost $153 billion in the quarter. the stock is up in the premarket. profits fell but not as much as
fears. why? discounts fuel demand. then you have your higher income shopper trading down to walmart. still you have walmart, and they warned about in this, they're sitting on $60 billion of inventory. 25% more than last year. they're discounting that. you go in, any income level, you get a deal. not always good for walmart, but it's good for us. stuart: i got it. move on to home depot, because that stock is down even though i thought they'd come up with a pretty good earnings report. lauren: yeah, their sale sales were stronger. we still went to home depot, but we didn't go as off. transaction volume down 3%. inventory up 38. if why, why, why? this is why i don't like the recession question. is this a housing recession? is that a unwanted merchandise, or is it the fact that home depot planned ahead of time, and they made sure they had enough of whatever anybody would need? stuart: well, it's a great story for the retailers, isn't it?
they're stuck with a whole bunch of inventory that they ordered after the pandemic which they now cannot sell. interesting situation. quick look at futures. adam johnson is our market watcher of this morning. looks like the consumer is doing just fine. >> just fine. stuart: spending money at wal-mart, home depot. what does that tell you about the economy and, therefore, the markets? >> gdp may have contracted two quarters in a row which is the traditional definition of a recession, i think it's boeing to be the narrowest, the shallowest, the least memorable recession that you and i have seen in many, many years. the consumer is doing just fine. people are employed, they have money, they're out there spending. that's the message from these earning reports. there may be some messy stuff associated with inventories because a lot of these big box retailers went out and ordered too much stuff thinking that covid was going to come back and hay needed the stuff. it didn't come back, now they're
the liquidating. but the other sort of hidden message behind all that, stuart, this is really important, they ordered all that stuff which clogged up the supply chains. the fact that they're no longer ordering all that extra merchandise is a break for supply chains, and as supply chains ease up, that should help pricing pressures which should help bring inflation down. i do think it's positive if you start connecting the dots. stuart: is that why the markets, to me at least, appear to be calming down? >> i think that's one of the reasons are. i think also we took everything down so far. here's an interesting stat that comes out of earnings, second quarter earnings season kind of winding down. you know, lauren talking about walmart and home depot. if you look at earnings in aggregate, they were up about 6.5%, and you can say, yeah, that's because energy was up. all right, fine, take energy out. earnings were down a couple of percent. but the single most important at the many all of the -- stat in
all of the earnings reports is the fact the that 25% of the companies in the s&p 500 and missed the estimates, they didn't trade down. they just held steady. and when stocks hold steady or even rally on bad news, it tells you the bad news is already priced in. stuart: holding steady -- >> yes. stuart: -- possibly going up from here? >> yeah. it's a big deal. stuart: it's a big deal, man. >> it's a big deal. and if as you and i, i think, were talking last week, it also means if you are a large institutional investor and you bought short because you didn't like things or you've been sitting on the side, you have to keep your -- put your money back in. stuart: adam, good stuff. we just got the latest read on housing starts. what's telling us about real estate? if. lauren: speak of the housing market. this is july, the start of the third quarter. home building pell sharply, down 9.6% to an annual rate of 1.446 million units as prices -- and the price of everything, the
materials -- are still high and so are interest rates. and permits for pooch home building down 1.3%. -- future home building. stuart: definite cooling. lauren: national home builders ceo says it's a housing recession. stuart: i've to got an update for you in the wall street journal, and it says merrick garland goes solo many mar-a-lago search. did biden mow about the search, and if not, that's truly disturbing. bill mcgurn joins us now. do you believe the white house had zero knowledge of the raid beforehand? >> that's hard to believe, but i can believe they take pains not to have any trail because it's very convenient. this stuff about the doj independence, you know, certainly you don't want a president interfering politically in prosecutions and so forth. but the idea that merrick garland, unelected, could take
this step, unprecedented, raiding of the former president's home without at least running it by the president, i think that should be disturbing. to a lot of people. the big thing in our constitution is not independence except from the other branches, it's accountability. and i i thinkable this serves to undermine accountability. stuart: it looks like things are just going to be spun out to the maximum possible degree until way after the november elections. is that what ooh's going on here? >> yeah, because it's a game. the white house says, well, not us. doj is independent. then i refer you to to doj. pleasure then the justice department says we can't talk because it's an ongoing criminal investigation. i think on something that big biden owes us an explanation. he can say without revealing the secrets i saw the underlying
reason, the attorney general briefed me, and i think he was justified. but this way we don't get any answers, and we don't have any accountability, as you say, until long after. stuart: it's just an endless pursuit of donald trump to slime him to the maximum degree. that's what it is. >> yeah. and also the founders thought that people would be jealous of guarding their power. but the fact is the elected people like the president, they like this because someone else does the dirty work and insulates them from the political cost. stuart: interesting. before we go, bill, i know that you had i think it was a minor stroke in january. >> yes, i did. stuart: this is your first day back, i believe. >> yes. stuart: welcome back. it's great to see you. >> thank you very much, stuart. stuart: we wish you well, man. >> thank you. stuart: quick check of futures,
please, 19 and a half minutes to go before the market opens. not much red ink. dow down 50. coming up, one cnn commentator says the department of justice, has to, must indict trump. roll tape. >> there's no going back now. i mean, we're all at the circus now. we're under the big top, and merrick garland's going to have to produce a clown on stilts juggling flaming bowling pins at this point. stuart: newly-named anchor of "fox news sunday is" shannon if bream is going to deal with that. i'll ask the man who killed osama bin laden, rob o'neill, if everything we did in afghanistan all those years has been undone. we'll be back. ♪ ♪
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stuart: that's a nice sky shot, isn't it? it's actually dallas, but mostly it's the sky, and it's 85 degrees. pretty clear. i bet you it's going to go up from 85 degrees. shah maya twain -- shania. lauren: i was trying to figure out what's on the right, but i guess it's the pier and a building that overlooks it. [laughter] stuart: all right. futures ever so so slightly lower across the board. there you have it. some red ink, not much. former president trump calling for the immediate release of the affidavit that was used to justify the raid. ashley webster is right there in palm beach. the latest, please, ashley. >> reporter: yeah, good morning, stu. that affidavit is key. it provides all of the material and explanations of why investigators believe they had probable cause to conduct that raid right here eight days ago. the justice department is telling a florida judge that
those details within the affidavit should not be made public because they could expose highly sensitive material. plus, information about potential witnesses who who they say will claim could come under threat if their personal details are made public. besides, the dod says it would be so heavily redacted, willed be absolutely no point. -- there would be absolutely no point. but donald trump says the affidavit should be released immediately. he took to his social media platform, truth social, earlier morning and said in part: in the interest of transparency, i call for the immediate release of the completely unredacted affidavit pertaining to this horrible and shocking break-in. and a number of republican lawmakers are making that same plea including republican senator tim scott of south carolina who says the american people deserve to know the whole story. take a listen. >> what i am mostly concerned
about is the infrequent, inconsistent application of the rule of law as it relates to president trump. until we see specificity within the affidavit, we will not have the kind of clarity that the american people need to come to their own conclusions. stuart: a number of media outlets including "the wall street journal" are canning a magistrate judge here in florida, bruce reinhart, to go ahead and make that public. they argue that not since the nixon administration has a president been the subject of such a dramatic and public criminal process. it is now up to a judge. mt. meantime, we learned a few minutes ago that three passports belonging to donald trump have been returned to him by the fbi, two of them expired, one in current use. i'm sure at some point they denied they had them, and they say they were just picked up with all the other documents and those passports being returned to donald trump. stuart: yeah, there was a big
tourer about that on -- furor about that on the network news last night. thanks, ash. congressman james comer is with us, ranking member of the house oversight committee. congressman, if the gop if takes back the house in november, you will be the likely chair of the oversight committee. what are you going to do with it? >> well, we're going to try to, first of all, get the facts to the american taxpayers. it's very frustrating the amount of waste, fraud and abuse in the federal government. that's always been the case, but it's special now for the past two years under joe biden, chuck schumer and nancy pelosi. it doesn't matter what government agency you're talking about, their level of appropriations have significantly increased. because of the massive spending by the house and senate democrats. and there's no accountability. the house oversight committee is supposed to be the check and balance for our appropriation dollars and for abuse in the federal government whether
you're talking about excessive, unnecessary spending or whether you're talking about overreach within the fbi. house republicans are going to turn the table on oversight and provide real oversight for the american people. stuart: will you be able to get at that affidavit and make it public so we can find out why they did the raid? >> we're going to do everything in our ability. jim jordan's on the oversight committee also chairman, he'll be chairman of the house judiciary committee, and we've been complaining about the fbi for nearly two years now. their lack of transparency, their lack of accountability is breathtaking. the level of arrogance by current management team at the fbi, it has to change, and i think you're going to see a major reform bill go through congress in a republican majority that a will reform the fbi and hopefully hold people accountable. right now it seems like this was a raid in terms of -- in search of a crime. the american people have questions. everywhere i go people stop me on the street and say why did
they raid the former president? the fact that they won't go public and give more detail is very disappointing. this isn't o.j. simpson's trial, this is the former president of the united states, and they need to treat this differently. stuart: congressman, what's wrong with fbi director christopher wray using a government jet frequently? i believe you object to it. >> yeah. i mean, you're not supposed to use government jet for your personal benefit, and if you do, you're supposed to reimburse the government. now, this isn't the first time director wray has done this. we're going down the line item by line item on the budget with the fbi now. and, you know, this is the first thing that pops out. he left the committee hearing early last week because he said he had to catch a plane. well, we didn't know it was our plane, the taxpayer plane. until probably cost $10,000 plus to reimburse. so this isn't the first time director wray's done this. there's no record of him ever
reimbursing the government for this expense. another example of arrogance by the fbi, another example of the need to drastically reform this agency and try to get the trust that the american people need back into our intelligence. stuart: you've got to win in november to do that. congressman james comer, always appreciate it, sir. thank you very much, indeed. >> thanks forking is me, stuart. stuart: we learned that mr. trump has gotten his passport back. what else is he saying about the raid? lauren: he did an interview with fox news digital, and i am quoting: the country is in a very dangerous position. there's tremendous anger over all of these scams and this new one. if there's anything we can do to help, i and my people would certainly be willing to do that. i will do whatever i can to help the country. people are so angry at what is taking place. the temperature the has to be brought down in the country. if it isn't, terrible things are going to happen.
long quote. he's right on two fronts. some americans aren't going to stand for another scam, which this could be, which is why donald trump is pressing the department of justice to release the affidavit behind the warrant. stuart: and that's how he thinks you'll lower the temperature. that's not something he normally does. lauren: and also the fbi has seen an increase in violent threats. that point is true, temperatures is have risen. stuart: the market opens in seven minutes. modestly, slightly lower. the opening bell is next. ♪ ♪
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that generate high commissions for you, right? (fisher investments) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money, only when your clients make more money? (fisher investments) yep. we do better when our clients do better. at fisher investments, we're clearly different. stuart: walmart products, consumers seem to be doing okay and, therefore, i would have thought good for the markets.
>> i think there's fear out there, good news is bad muse, bad news is good news, we want a strong u.s. economy. we want the consumer to be out there intending money. that's good for the markets and the entire economy. stuart: i get the impression i think the markets are calming down. why are you laughing? [laughter] >> calming down, we had a major selloff and we rallied off the bottom, and now the markets are starting a huge move, push higher, and that's what we're seeing. we're up for four straight weeks. that's not calming down. we can't have down four weeks being a bear market and then up four weeks being -- stuart: never kill the show's -- >> i'm just putting it in different words. stuart: are we going up from here? >> we are. stuart: across the market? so buy spx?
>> ill buy rather than trying to overeight consumer discretionary and underweight energy and then rotating out of that at some point, buy the byer market. buy -- the entire market. this way you don't have to panic when the market does have a correction and you're looking to settle. stuart: i think you got a good understanding of our viewers, because i don't think our viewers rotate out of whatever the devil is expression is. they don't do that. some will but not many will. they want an anchor. they want something to formulate around as a key investment and move from there. >> yes. and if they try to do to that, they're not going to be doing it for long because they're going to be losing money. most people don't understand what they'd been underweighting and overweighting. when it really works is when you go for a 5% rex in the -- 25% correction in the market as we did earlier this year. then, okay, i'm going to buy this dip because i'm positioned properly, and i believe the
market has never gone down and stayed down, so i'm going to look at any weakness. stuart: spy is the place to be according to mike murphy. >> yes, sir. stuart: last word on that. thank you very much, sir, appreciate it. the opening bell is coming up in literally 10 seconds to go. the backdrop here is a strong report from walmart. i thought it was a strong report from home depot as well. they're both dow stocks. and i think that's going to be good for the market, we'll see. it's 9:30. it is tuesday morning. here we go. the dow has opened to the downside as expected, but that's not a heavy loss by any means. we still have about 10 winners in the dow 30, and the dow is down a mere 38 points. that's it. .1 is %. hardly a selloff, folks. the s&p 500 is down .32 the %. -- 22 the %. that's 9 points, and the nasdaq is down .32. there was a time not that long ago when we'd open up 1%, down 1 is % --
lauren: it is august. stuart: exactly. doldrums of summer. big tech on your screen. amazon is up just a fraction. apple, meta, alphabet, microsoft on the downside. now, let's get back to walmart. show me that a one again. we already talked about their earnings. pretty good, i would say. but did they land a streaming deal? hour lauren with paramount. next month walmart plus member members get paramount+ for free. 43 million subscribers, they want to get to 100 million, but they're battling netflix, disney, you name it. well, they're the cheapest option. $5 a month, you get that for free for a year starting next month at wal-mart. stuart: who's got paw patrol? i know it's murphy who's got lots of kids. your kids used to watch it? >> love paw patrol. lauren: i'm pretty sure i have them and their colors straight -- stuart: it's amazing what we
talk about. just as the stock market opens, we're talking paw patrol. we want to be entertaining. apple has set a deadline for workers to return to the office. got to be there lee days a week. my question, why do they insist they go back? do you think they're goofing off if they're doing remote work? lauren: maybe. i think apple's being the trend setter right now especially in tech. heir making their workers go in,st going to be every tuesday and every thursday and then a third day that you go over with your manager. i think if that works starting next month, right after labor day, other companies are going to say we're doing it too. stuart: back to work does the not affect apple's stock price. there's much bigger fish to fry with apple. lauren: why do they want their corporate workers back in the office? stuart: will you answer that question, man? >> i will. [laughter] when you have a job, you can't stay at home, you have to come to work. when you have a job, you hire somebody, you expect for them to be in the office.
this idea the pandemic set something up where you can actually do your job from home, there's nobody out there for the most part who is as good a worker, as productive working from home with all the distractions that come with that as people when they're in the office. lauren: my pushback would be from apple's point of view they've been tremendous, ask and these worker have been home since 2020. if i were working at apple, i'd be like what's wrong with what i'm doing? stuart: elon musk said the same thing, stop pretending to work from home. >> apple has that, you know, the core product that i think -- lauren: collaboration. stuart: let's be honest, we're digressing here, neglecting our core function. lauren: i come to work every day. stuart: peloton. you buy a peloton, a crew comes to your house, they deliver it, they assemble it. i believe that's going to change, and they're going to be -- you buy a peloton, you're going to be introduced to the three worst words in the english
language, some assembly required. [laughter] isn't that the truth? lauren: full assembly required. a do it yourself peloton bike or tread mill. okay. heir reportedly working on redesigning the bike that you can put it together all by yourself. it saves them money, they don't is are the crews that come to your house, that white glove service that you pay about $350 more -- for. stuart: but they've raised the price by $500 -- lauren: yeah, but it would be a redesigned bike. >> why doesn't your company buy peloton? not the stock, buy the company. >> i personally own peloton's stock. i bought it when it came down, my cost is somewhere around $40 a share, so they're not -- i haven't bought more because i don't know how the unit economics for the company are going to change. the company right now is losing money. this is something they're exploring to potentially figure out a way to make money, so i haven't bought more yet. i will. i want to see that the pooch's there. i use my peloton seven days a
week. stuart: really? >> i do. stuart: zip recruiter, obviously, online recruiting people. they are down 6.5%? lauren: their numbers were fine, it's just the fact that companies are hiring less. everybody is slowing down right now, and zip recruiter is saying, look, those who are looking for jobs, they're going to lose the upper hand that you've had for the past two years. so, for instance, if apple or tesla is saying you must come into the office three days a week, you might have to. as we say this though, zip did a survey and said 62% of respondents want to work from home all the time. stuart: why am i not surprised? all right. zoom, what's with them now? bigtime pandemic winner, now they've been battling headwinds of all kinds. what's the problem today where they're down another 5%? >> citigroup downgraded them to a sell and out their price target to $91. it's going to go down bigtime. who reasons are. they brought with up so much
during covid, so you naturally slow down. but, b, they're competing with so many other companies right now, and they named microsoft teams in particular. stuart: okay. let's see what we've got on the big board, up 30 points for the dow jones industrial average. 33,900. look at the dow winners headed by, show me, please, here we go. it's walmart, no surprise. procter & gamble, am general -- amgen -- can. lauren: home depot turned positive. stuart: retailers and emergency companies. the nasdaq, dollar tree. okay, ross stores, tesla, costco wholesale, amgen. lauren: consumer's strong today. stuart: let's go through the other markets for you. interest rates moving up a little bit, the yield on the 10-year treasury is 2.83. the price of gold not doing much, 1790 per ounce. bitcoin struggling to maintain
24,000. oil back down to $89 a barrel. nat gas, i think that is up morning. significant gain. what you got? lauren: this could be the highest close since august of 2008. stuart: did you know that over in europe they pay five times as much for nat gas as we pay here in america? lauren: yep. stuart: you want to move? >> no. staying right here. lauren: starting in october in germany, you're paying $500 more per month because of taxes and everything else. stuart: stay in america. the average price for a gallon of gas down just one scent at $3.94. one cent. in texas you get the lowest gas price on average, $3.45 in texas. still over $5 in california. coming up, an op-ed in the atlantic, quote: how extremist gun culture is trying to co-opt the rosary. is the rosary is aim -- a symbol of extremist? president biden will sign the inflation reduction act today.
larry kudlow will tell the us what all those tax increases -- when all those tax increases actually kick in. that's important stuff. and so is this: fox nation has a new special on the titanic narrate ad by film star billy zane. here's a clip. >> you can be blase about some things, rose, but not titanic. >> so this is the ship they say is unsinkable. stuart: the i didn't like that guy. lauren: well, rose didn't wind up with him, did she? stuart: no,ing she did not. what secrets are stuck at the bottom of the sea? that blue diamond, that that's what's at the bottom -- another sneak preview from a titanic expert -- lauren: they're shutting us down. many. ♪ ♪ ♪
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stuart: all right, we're just hearing, first lady jill biden has tested potz for covid. we're told she's experiencing mild symptom and is being treated with paxlovid. president biden is heading back to the white house today to, he's to going to sign the inflation reduction act. in my opinion, it's a climate bill, got nothing to do with inflation. hillary vaughn at the white house. the white house claims this will save people money. now, i mow you've been digging into the numbers. what did you find? >> reporter: well, stuart, the argument is it's going to save people money, but first you're going to have to spend some money to cash many on the tax credits -- in on the tax credits that the administration and democrats in congress say will ultimately bring prices, energy prices down for consumers if they make the switch to solar and clean energy. >> immediately, people will be able to lower the fuel costs in their home. there's a 30 tax credit that a you can plame in 2022 -- claim
in 2022 for installing energy-efficient windows, heat pumps, appliances. that is right away. and on top of that, of course, if citizens want to install solar panels on their roofs so that they can generate their own power, that's another 30% tax credit. >> reporter: some analysts say the tax hikes are also going to raise costs on average americans. some tax analysts say things like the 15% corporate minimum on billionaire corporations would get passed down to consumers, ultimately, and raise costs on goods for them. they also say the 1% tax on stock buybacks could hit retirees hoping to cash out retirement9 accounts and also this new supersized irs hiring 87,000 new agents to ramp up audits. the congressional budget office confirming this package will get about $20 billion from audits of people making you should
$400,000 -- under $400,000 a year. >> those budget shoppers, those families making less than $75,000, really getting hammered by inflation and high fuel costs, they'll face 710,000 additional audits even though, frankly, they've done nothing wrong, don't deserve the harassment. so, look, this is the, the democrats are wrong and debunked in their claims. middle class families ought to be frightened. >> reporter: and, stuart, the first lady's positive test did put questions on whether or not the president will actually show up at the white house and sign the inflation reduction act, but we did hear he tested mega, he is still coming to the -- negative, he is still coming, but he will be masking. stuart: hanks very much, indeed. larry kudlow, as you know, the president's going to sign this huge tax and spend bill this afternoon. my question is when do all of these taxes actually kick in? >> right away.
have you ever seen a democratic administration that didn't want an immediate tax hike so they could spend the money on all this nonsense which will not reduce inflation, which will damage the economy? let's see. $400 billion, $400 billion in green new deal spending. don't forget, stu, this is -- there's so many wonderful things in this bill. i mean, there's so many wonderful things in this bill. i think the president will try to hide under the table rather than sign the bill. there's $250 billion -- wait, $250 billion energy department slush fund. no strings. we don't know what they're going to do. it's like solyndra to the 100th. and here's another one, stu. i don't think you know this, maybe you do, i don't mean to demean. $27 billion for a national climate bank -- stuart: yep. >> -- run by your favorite agency, the environmental
protection agency. did you know that? stuart: yeah. >> the national climate bank? you've had banking experience, stu. i think you'd be terrific in running this thing. and here's the thing, nobody has priced out what all this stuff would mean to the climate. if right? stuart: yeah. >> this is supposed to be climate, lore carbon, right? no one. so our friend bjorn lomborg, distinguished climate scientist, he used the u.n. climate model, and here's what he got. i have to read this because my math isn't that good. the best case for carbon reduction is 28- one-thousandth of a degree fahrenheit. okay? or the worst case is it'll only be 9 ten-thousandths of a degree
fahrenheit. now, for those tiny, no-impact numbers, in other words, there's no impact on the climate, we're going to have all this new spending on climate. banks, energy department slush funds. then we're going to have the higher taxes on everybody, small business pass-through, large businesses, people making less than $200,000 a year. we're going to go all that. 1% increase in stock buybacks and so your retirement fund will be damaged. i mean, come on. and then there's going to be about $750 billion worth of spending. now, i ask you, is it worth it, stu varney, in order to reduce the climate by -- i have to read this again -- nine ten-thousandths of one degree fahrenheit? i think most people would think it's megaliberal. -- they'll --
negligible. stuart: it's, when you realize china, india are is not going to stop, germany is now going back to coal, for heaven sakes, so we are suffering, we are sacrificing and paying enormous amounts of dollars for it whilst they keep on producing. polluting. what a story. >> and, by the way, there's at least 100 billion of taxes on american fossil fuel. stuart: yes. gas tax the, driving -- [inaudible conversations] it's ridiculous. >> and there's not one single, not one single iota, scintilla of an economic growth incentive in this bill. not one comma, not one semicolon, no one dotted i or crossed t. [laughter] nothing for economic growth in this insane bill. and, stu varney, i nominate you to be the head of the national climate bank. stuart: if elected, i shall not
run. [laughter] if elected, i shall not serve. i can't remember how it goes, but i do remember the phrase. [laughter] gotta go, gotta go. we'll watch you this afternoon, "kudlow," 4:00 eastern this afternoon on this network. after thousands of unvaxxed workers faced job losses, the cdc is relaxing the guidelines. okay, but what happens to the unvaxxed who ross their jobsesome you know what? they might get some money. lydia hu has the story after this. ♪ -- the things with we lost in the fire, fire, fire. ♪ these are the things, the things we we lost ♪
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before starting get checked for tuberculosis. an increased risk of infection, some serious and a lowered ability to fight them may occur. tell your doctor about an infection or symptoms or if you had a vaccine or plan to. tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reaction may occur. best move i've ever made. ask your dermatologist stuart: new. >> cdc guidelines no longer require unvaxxed people to social distance or quarantine. a 180 from the pandemic when many unvaxxed workers were forced out of their jobs. lydia hu is with he. -- me. you spoke to a teacher who lost his job over that vax status. what's he saying now? >> reporter: he's one of many teachers across new york city that are now suing, and he says the new revised guidelines are going to help their case. watch this. >> it begs the question, what is really going on here? is this about public health as
has always been claimed, or is something else happening? there is no reason to keep us out of the classroom anymore, and the cdc confirms that. >> reporter: and this teacher is one of nearly 1500 city workers that were fired earlier this year when new york city imposed vaccine mandates on city workers. this included police officers and firefighters too, and for them and the hundreds or thousands of others also impacted by jab or job rules across the country, well, stuart, there's encouraging news now. of course, just approved a $10 million settlement for illinois health care workers who were fired or otherwise adversely impacted by north shore university health system's vaccine mandate. it's going to compensate about 500 employees for being denied religious exemptions, those who were terminated or forced to resign are going to get $25,000. those who are or -- who were forced to get the shot, $3,000 for them. anyone fired, they're going to be able to get their former
positions back. i think that's huge. it's the first class action settlement on this in the country. the lawyer says, hey, this is a big wake-up call for employers. he's got cases like this pending around the country, so it seems between the cdc guidelines and the settlement, it seems like the tide is really turning, and employees might get the gain. stuart: good, they deserve it. lydia, good stuff. still ahead, rachel campos duffy, rob o'neill, shannon bream, mike rowe with his mom, peggy. the 10:00 hour is next. ♪ ♪ they don't know what this feeling is like ♪
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the 10 year treasury yield coming in this morning at moving up 2.86%. the price of oil moving up $89 a barrel. bitcoin moving down $23,000 a coin as we speak. that is the market and now this. much is being made of a statement from top banker jamie dimon that implied american workers are lazy. he said china looks at america and says you have been incompetent and lazy. jamie dimon says there is some truth in that. if you read his remarks he's not saying we are lazy. he is saying the biden administration is incompetent especially with energy policy. he says why can't we get it through our thick skulls that we should be producing more natural gas. while said but it is the use of the word lazy the kind of stinks.
are americans lazy? do millennials really want to work? i will answer those questions. in my experience americans work hard at least the ones i have come across and 50 years of living here and millennials do want to work at least the ones who run this program at this program is run by youngsters who start work at 5:00 in the morning. the confusion is the post pandemic nature and place of work. after years of restrictions a lot of people want to work from home not because they are lazy but remote work opens up their lives. it's one of the big changes the pandemic brought with it. it is about efficiency, lifestyle. not about laziness. second hour of varney just getting started. ♪ stuart: i went to bring the gentleman on the right hand
side of the screen, scott shelladdy, you're obviously an american, do you think americans are lazy? >> no. but i think "risk and reward" is on black and i blame a large part on the pandemic but here is my issue. we have the government and i agree with jamie dimon the rewards people with doing nothing and that's part of the labor problem, to get folks coming back to work. i have heard this. the studio i am in right now folks show up at 5:00 in the morning and they are all millennials but a certain group out there gets paid $15 an hour to stay home and -- stuart: is that still going on? >> if you lose your job you can still claim but they make an
offer for $17 an hour and the logic has been so twisted on these folks, they say why would i work 40 hours a week for an extra $2 an hour when i could get 15? stuart: you are saying the work ethic has declined, not based in laziness but the work ethic, that is what you are saying? >> the government handouts of affected work ethic. i don't believe it is natural for folks to feel like that. earned a good living and come home tired at the end of the day. that's a human reaction but if you start to change that reaction by giving them handouts, then you start to screw up the relationship between good hard work and that feeling and what the government will give you instead. the government having a hand in labor, over the pandemic we
killed small businesses because we shut them down indiscriminately. than the government went into competition with small businesses by paying them more to let them stay home alone. that screwed up the relationship. it will take a while to get over. stuart: excellent input, scott shelladd e, that is original thinking. a group of healthcare workers challenged in court over the vaccine mandate. how much did they win? >> $10 million, 500 plaintiffs, 20,000 each more or less, workers at north shore hospital in illinois, five for religious exemptions and those exemptions were not granted so the
settlement serves as a warning to employers, be careful before you mandate. stuart: there will be a huge number of lawsuits from people who were fired because they would not get a vaccination work, their serious money. it is primary day in wyoming and liz cheney facing harriet hagerman. she has donald trump's support. liz cheney does not. is a tight rate? >> not tight at all. university of wyoming poll, 30 points over liz cheney, cheney faces opposition from her own party's leadership, house minority leader kevin mccarthy. >> land use attorney, fourth-generation wyoming, harriet is going to win rather large by two factors, it will be a referendum on the january 6th many of the democrats not focusing on the real issues america cares most
about and issues in wyoming. >> reporter: this is the most high-profile primary for those ten republicans who voted to impeach trump after the capitol hill attack. i will say a note of caution on the polls. liz cheney in wyoming trying to get democrats to crossover, register republican and vote for her. their opinion doesn't show up in a lot of these polls so we will see what happens at the ballot box and if she loses does she set the stage to run for the presidential in 2024? stuart: interesting situation. and a comment from the lady sitting next to me his laughing at the moment and might laugh in the future. what is happening in lose cheney's race? >> lose cheney is out, the best sign of what her candidacy is about. never once said the word wyoming. it was about trump, the most
bizarre congressional add i have ever seen in my life, i would have been in politics for 10 years, never seen an ad where he didn't say wisconsin. the families on a vendetta, her seat was about punishing trump, nothing to do with the people of wyoming. stuart: you had a big smile coming out of the first question, pounding the table. >> you mention people say setting up for presidential race, she's no party, nobody likes her, not on the right and on the left they only like her because they can use her as a useful tool, she has 0 charisma, none. to make her think that she has something, she will be on a board of a corporation somewhere.
stuart: you elected to pound the table. on donald trump, he says he says, trump is saying he is trying to ease tensions after the raid. here's what he told fox, i will do whatever i can to help the country, temperature has to be brought down. if it isn't, terrible things are going to happen. quite a change in tone from the former president. >> there does need to be a toning down but the way to bring the temperature down is for the other side, for democrats to admit that what they did was unconstitutional. stuart: show us why the affidavit -- >> the reason they are not showing wise they know this is a political pandemic of the on the way to been the country together is bring us back to what we were, a country that had equal justice. imagine if this had happened to barack obama, if his home had been rated, michelle obama's closet had been rated. think about what the left did in terms of riots and violence over george floyd.
it would be double that for the first black president. there's a double standard the way donald trump is treated and what the american people are saying it is not just trump, they are coming after me and that is why this -- this is dangerous territory in the only way to lower the temperature is for the left to look in the mirror and say what are we doing to this country for the sake of power and ideology, it is wrong. blue when they are not going to do that and the temperature is not going to come down. always good, thanks very much. back to the markets, walmart definitely moving and home depot, a real turn for home depot. >> sales were stronger than expected, the consumer is okay, walmart and home depot, both dow stocks together adding 80 positive points, which are negative for these two steps. stuart: i remember saying at the top of the show what did
analysts find in the home depot report they didn't like? at first home depot was down. analysts found something they didn't like and a complete reversal and it is up. >> we are not going there as much as we have been consistently spending more when we go there. this is lifting other retail stocks, the report tomorrow, bed, bath, and body, this is the leadership of the dow, the s&p at the nasdaq. stuart: bed, bath and beyond. >> it is up 10.4%, another 10%. riley comes out, and the stock is trading at unrealistic valuation because of interest from the retail trader, the price target is $5. the stock is up 30% up to hundred plus% in the past months.
stuart: those square cards, everybody got them. >> they had new restrictions. it was so annoying, make it work all the time. stuart: top republican sounding off after fbi director chris ray flying to his vacation home, we have the story in the next hour. the u.s. navy has seen an increase in dangerous intercepts by the chinese military. tens of thousands of afghans who helped american forces while they were still stuck in afghanistan year after hour botched withdrawal, trey yingst has the report from kabul next.
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stuart: not much price movement, the dow is up 70, the nasdaq down 101. it has been one year since our botched withdrawal from afghanistan. many of those who left us were left behind. trey yingst joins us from kabul, you found someone still in hiding. what are they telling you? >> exactly right. we are speaking with people in the streets of couple often in hiding because they can't be in public due to the security situation. this day last year the us embassy in afghanistan released a security account morning all americans to shelter in place, tell a man was roaming through the streets, now that group controls the country and its capital city. there is no question who is in
charge of the group says the security situation has improved over the past year but american allies here feel anything but safe. this man worked at the us embassy in a senior role. before that he was translator for usaid. we are withholding his identity as he remains, to improve special immigrant visa. a process he says has failed. >> it showed lack of value and importance to the lives in the work and the lives that were established. >> 15,000 special immigrant visas issued since president biden came to office though 160,000 eligible afghans are waiting to be processed with no
us presence in kabul. >> the us embassy in kabul is deserted, the taliban flag is raised where american flags once flew. in a press conference last august president biden discussed his perspective on why the us had to leave afghanistan. speaking we succeeded in what we set out to do in afghanistan over a decade ago. we stayed for another decade. it was time to end this war. >> the fact is the taliban is back in power has they were before the us invasion. behind me you hear the call to prayer and the afghan capital. as for those civilians left behind by americans to live under taliban control the white house tells fox news they are committed to helping those individuals. stuart: trey yingst in the middle of it in kabul. i want to bring in rob o'neill,
he spent some time in afghanistan. did our hasty withdrawal undo all the work we had been doing in afghanistan for all those years? >> difficult to say because we kept pushing, a lot of mission creep, the first mission was to destroy al qaeda, then the taliban and put in democracy, find bin laden, kept moving. it was pretty much over in 2005 but we kept surging. we don't know history, don't know how to win a war, don't know the definition of winning a war. bringing troops home and we went. stuart: given your druthers with you have withdrawn not the way we did but would you have withdrawn much earlier? ten years ago? >> i was living in a safe house, we hadn't surged and living before local and way you win hearts and minds is there economy, we hide security, cooks, rode motorcycles.
once we surge and bring in people scared to drive their military vehicles it doesn't matter what your intentions are. if you stay long enough you are an occupier. so many things we did wrong, we should never have gone into air at, we should have surged afghanistan, people making the decisions, never seen it, never met the locals and don't know the history at all. stuart: has trust in america diminished because of the debacle? >> of course. the people i feel bad for as far as a year from now, the americans that were over there promising afghan partners and we ditched them. don't know how we can get sources on the ground -- stuart: you must've worked with others, afghans and syrians, do those people trust us? >> the trust, doesn't matter if
they are at war. everyone from the syrians to the chinese watching what we do. and running from them because they escaped afghanistan. there's not a lot of trust and a little bit of ridicule and everything from what we said to people, how we lied to them, we are all good and stronger than we ever were. if you start changing the words of things, that's the backbone of propaganda. stuart: you left the seals after 16 years, could have stayed for 20. forgive me for asking but why did you leave early? >> i was at a point, i worried about complacency because a bullet has to be right one time and if you are hit with a lucky shot, we killed bin laden in may of 2011 and lost 31 great americans because of one shot. there's been a lot of close
calls but one move the wrong direction, everything you know what life could be overcome a time for me to go. took a year to decide that. a long, hard year. go to arizona for a few years, would have been great but i came in the navy through the front door, left in the front door, i don't owe them anything. a great relationship. i have great relationships from them and it was a great time in my life. stuart: i think you are all right. thank you. the u.s. navy says they've seen an increase in dangerous intercept by the chinese military. i am inclined to think that's taiwan. >> the south china sea, the u.s. navy reporting an increase in unsafe aerial interests in the south china sea which china claims as its own in that region is responsible for 80% of trade. taiwan's president is saying
piece is critical to the stability of the tech supply chain, taiwan is home to major semiconductor manufacturing and beijing has ratcheting up military drills around taiwan since speaker pelosi's visit. the worry is china uses that as a pretext for an invasion. stuart: we used to think everything in the middle east was about oil. iced i think everything in china and taiwan is about semi conductors and chips. thanks very much. a new plan to educate migrants thing and from texas, wants to enroll them in us city public schools. it is an op-ed in the atlantic, the catholic rosary has become an extremist symbol for gun culture. i wonder what theologian jonathan morris, jonathan is with us next. ♪
dow stocks, both straight up and the nasdaq is down, looking at the movers and starting with snowflake down 5%. >> cloud computing spending will slow down, big decline or. stuart: target is up this morning, up 3%. >> this is because of walmart, they had forecast, warned us, lowering their guidance for the second quarter, cut their margin forecast in half and planning price increases which is astonishing because their prices have gone up so the cost of transportation, curious to see how targeting explains this. stuart: are we going to deal with another meme stock as an amc? >> the original meme? it is up 3 quarters of 1%.
but there might be news for amc's bread-and-butter, re-releases coming to the end of summer box office, star wars, spider-man. maybe they will get more. stuart: go see elvis, really good one. i digress. a church in ohio teamed up with a religious organization to create a taxpayer-funded school for low income students. there's probably going to have backlash. lauren: they are using public funds to make the school affordable for public school students. it promotes christian values. more diversity is needed in that curriculum. diversion of taxpayer money to schools is a troubling step. the further troubling step in erosion of church and state and
establishment of what amounts to a state endorsed religion. stuart: we don't have -- you know what i am going to say? >> the she was public money going to support christian values, telling a boy you are a boy and girl you are a girl, that is enough. stuart: we don't have freedom, don't know what i am saying, we have freedom of all religion, not freedom from religion, thank you. we have freedom of religion, not freedom from religion, that's a very important thing. >> it would be your choice to go to the school. so you should have the choice and opportunity to send your child to private school even though it uses public money. stuart: i hope it works, what is this legal point? our kids educated? and they read, write and direct arithmetic? and be respectful? if you can do all of that i am in. the mayor of new york city, eric adams says the city will
soon announce a plan to enroll migrant kids that are being bussed here from texas and put them in public schools in the city? resident theologian jonathan morris is with me now. do we have a christian response ability or spiritual response ability to educate and feed these youngsters in the city. >> politicians are saying it would be sinful not to educate the kids. the real political symbol in my opinion is the political class saying to migrants, potential migrants you cannot come into the united states because we don't give you a visa but we will let you come in and there's going to be all these opportunities. when issue you have to live like a second-class resident or citizen, we are saying don't come in and we will give you these perks.
the migrants suffering legal americans also suffer. there's no force in washington no force on a local level to say as a country we have a response ability to have secure and safe borders. that's good for potential migrants, good for potential immigrants. that the system is sinful in my opinion. stuart: i've got more for you in a moment. those migrants bussed in from texas reported to be a luxury hotel, what have we got on that. >> the heart of times square and broadway, remember this iconic commercial? do we have that? ♪ come along ♪ i will take you to ♪ the lullaby of broadway ♪ ♪
♪ in the center of it all ♪ >> stay at the milford plaza hotel. stuart: that is the hotel. lauren: it will house the migrants are starting to come in big numbers and the homeless during the pandemic. for guests staying around the hotel at the time the migrants restate their, it will cost $150, that's for regular guest. i am not sure what they are going to charge migrants. lauren: but how do you feel about that? this question has been asked, most people say if it is a migrant they are more inclined to stay. stuart: no opinion on that. i want to get to jonathan and a serious issue. an op-ed in the atlantic, the
rosary as an extremist symbol. on this extremist fringe, rosary beads are woven into conspiratorial politics and polluters and culture, these are radical traditionalists have taken up a spiritual notion that the rosary can be a weapon in the fight against evil and turned into something dangerous. want to respond to that? >> atlantic should stay away from reporting on religion because they do a bad job. there are some people who are extremists who attach their religious beliefs to their extremism but the rosary itself is a form of prayer which is not radical at all. the notion of a spiritual battle going on is as old as the bible. there is a spiritual battle, nothing to do with ar 15s. wrapping the rosary beads around their ar 15s. the atlantic has a
responsibility to make it clear this is a tiny fringe of people. there is something in mainstream religion call the spiritual battle, that is not it. wrapping ar 15s with rosary beads is not a special battle the bible refers to. stuart: they like to go after christian themes, to diminish spiritual life in this country. love to have you on the show. come back soon. new emails reveal leonardo dicaprio's nonprofit is secretly funneling money to fund climate change lawsuits. that story for you. electricity prices searching in major cities and democrats green agenda could push prices even higher. jeff flock tells us more about that, what it will cost to keep the lights on. jeff is next. ♪
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stuart: up to date on the markets, we got nada selloff but a downside move and the nasdaq is down 141 points. the dow held up walmart and home depot. china facing its worst heat wave in six decades and authorities are ordering some factories to save on power. are they going to shut stuff down which hurts the economy? lauren: a total of six days. for these six days, it isn't stress too much, enough power for their homes.
what does this do? it exacerbates the supply chain crisis which is already pretty bad. it is important for us because we like apple products and fox congo apple supplier which makes computers, that is in this province. watch if there any ripple effect. stuart: electricity prices here are searching and there's a warning people in big cities in america see prices jump by double digits over the next month, jeff flock is in doylestown, pennsylvania. 10% or more up in a month. explain please. >> reporter: that is what it is in doylestown, but it is worse elsewhere. nationwide doesn't seem bad. 6% up for electricity nationwide but look at these hotspots. in ohio applied energy raised
their rates by 131%. texas statewide 76% for electricity, xl power in colorado up 39%, florida power & light at hotspots like here in pennsylvania, the nation is made of many many small electric companies and all have different rates, pennsylvania, electricity, 34%, pico which is in toils town up 11%. why? here's your exploration, natural gas prices. we still generate most electricity from natural gas come of this time last year and august, the futures market, natural gas was $3.30 of british thermal units now, today trading at $9. that is where it started today and here is where it goes from here. many of these increases are
approved by electricity boards, we've got to charge customers for it. that simple. stuart: that is the way it works and why stuff is going up so much. see you later. then we have bill gates's nuclear innovative company called terror power, announced millions in new funding. all good. lauren: $750 million to develop nuclear energy, having a renaissance because it doesn't release greenhouse gases which contribute to climate change. also for innovations in nuclear medicine, there are radioactive materials we need to more of that could be beneficial. stuart: we've got another one. new emails suggest leonardo dicaprio has a nonprofit foundation funneling money i belief to settle lawsuits to finance lawsuits.
lauren: fox news digital uncovered these emails showing he fund a law firm over 5 years to sue oil companies on behalf of state and local governments. they said they were being a climate nuisance if you will, he is called resource illegal, worked hard to figure out who the contributors are and where it is going, fox news digital did that. and agenda. stuart: rich guys make us pay through the nose for their green dreams, come on, check the markets, the dow is up 60, nasdaq down one hundred 13, the yield on a 10 year treasury significant above 280, 285, hurting big tech. gold, 792 an ounce, bitcoin drop below 24 grand, it has, 23-7, the price of oil, $88 a barrel, natural gas going up 9, 10, 4%. the average price for a gallon
of regular down one cent, $3.94. texas has the cheapest gas at $3.45. the king of rock 'n' roll is back in the spotlight. role that tape. ♪ stuart: that new movie by the way which i have seen at which i really like is about elvis's like, bringing a new generation of fans to the king's home. grady trimble is going to have a report from graceland. vaccination diving deep into myths surrounding the titanic and secrets stuck at the bottom of the sea. a sneak preview of a new special after this.
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stuart: the market shows a decline for the nasdaq composite and gain for the dow industrials. look at the dow winners, i know who is at the top as walmart and home depot came through with excellent earnings reports. ibm is on that list, s&p 500 winners headed by walmart, two interactive targets, they report tomorrow, walmart looked so good today. the top of the list on the nasdaq, they are retailer up because walmart and home depot. a new fox nation series highlights the history of the titanic 110 years after the sinking. here's a preview. >> there were 2208 passengers and crew on the titanic. >> tragically a watery grave awaited many in the fallout of
the greatest naval disaster in history. stuart: the special is narrated by one of the stars of the original movie billy zane. >> you can be blasé about some things, rose, but not about titanic. >> so this is the ship they say is unthinkable. >> it is on singable, god himself could not think this should. stuart: he was a most unpopular character in the movie. don lynch is with me, gentlemen on the right-hand side of the screen and expert on the titanic advised james cameron on the movie. what is the series going to tell me that i don't already know? >> i haven't actually seen it yet so i can't speak to it. i've spoken to somebody, differently worth watching. stuart: i want to get your thoughts on the conspiracy theories surrounding the titanic sinking. listen to this please.
>> conspiracy theories began to get more popular whether it is the theory the elliptic and titanic were switched in some sort of insurance cover up or jpmorgan is the owner of the international mercantile marine using his authority to try to pressure the companies to building the ships cheaply. stuart: you heard the conspiracy theories. is there any truth to any of them? >> no, not really. there is no way the two ships could have been switched and they have proven that by going down to the titanic and identifying parts that were unique to the titanic and there is no evidence there was any effort to make the ship more cheaply. it was differently billed as a very luxurious ship that had to meet those standards for the public to sail on it. stuart: you are a titanic expert. i'm sure you saw the original movie. what do you think of the original movie? >> the 1997 movie?
i was in it, i have a little cameo. i think it is wonderful movie. it is the first time it was done in color and done well. and displayed the sinking pretty much as we knew at the time how it happened. stuart: 2,000 people on board and i can't remember how many survived. can you tell me? >> 712. stuart: and -- >> they are all gone now. stuart: the survivors went on to the carpathian as i recall and didn't want to be known as carpathian passengers, they said put me down as a titanic passenger. is that correct? >> carpathia a the passengers on the carpathia were turned in when they got to new york. stuart: thanks for joining us, hope you get to see this special.
it is supposed to be very good. watch the brand-new series titanic secrets narrated by billy zane on foxnation.com. coming up, shannon bream, mike rowe, the southern border is inundated with illegal migrants in july alone, 200,000 people drive across illegally but the media just ignores it. that is my opinion and it is "my take" and it is next. ♪ ♪ ♪ ♪ ♪
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tea, nothing for economic growth in this insane bill. >> we want a strong us economy, the consumer to be out there spending money for the markets, good for the entire economy. >> it will be the narrowest, the shallowest, the least memorable recession you and i have seen in many years. stuart: good morning. it is 11:00 eastern time, tuesday, august 16th. a mixed picture on the markets, the dow is up largely because of the strength of walmart at home depot and nasdaq is down 116 points because the yield on the 10 year treasury is going up. show me big tech, usually they get hurt when the yield on the treasury goes up and hurt this one, not a big selloff by any means at the meta is down 1.6%
and alphabet is down 1%. here is the 10 year treasury, yield up 2.86%. now this. if you didn't watch fox you wouldn't know there is a monumental crisis on the border. the media just ignores it and you know why? the media supports democrats and democrats brought us the border and brought us the crisis. here's how bad it is. in july alone despite the heat 200,000 people tried to cross the border illegally. fentanyl seizures up 200% since june, fentanyl is the leading cause of death for young american men. ten terrorists suspect scott in july alone. the crisis is hitting cities across the country. new york is going to open a luxury hotel in times square to accommodate them. crickets from media. has as fox shows groups of
four or 500 walking across the border every day crickets from media. president biden signed his tax and spending bill laughably called the inflation reduction act of 2,022. he will take a victory lap not because he's planning the world but because the democrats got legislation passed. by november at the current pace there will be another half million illegals, the media may ignore it, democrats may ignore it but there's a lot of voters who will not. third hour of varney starts right now. shannon bream is with here. will the border crisis be a top issue in the midterms? what say you? >> for people who know about it, those watching fox and we keep crews telling you what is
going on they are aware of it. in polling, when people feel president biden is doing on the issues even if not fully informed on the border he gets bad marks and it is happening with immigration in the border and even people not 100% dialed in, these images are powerful and the media chooses not to cover it has to be aware of that. think of the number you cited in one month, the fentanyl seizures up 200%, that is killing americans every day. you cited it. one of the top causes of death for young men in the country. if we know something like that is pouring across the borders and killing americans how do we not have more passion about getting it stopped? the only spinach i can think of is people don't know about it. stuart: listen to what one cnn commentator said about the justice department. role that tape. >> no going back, we are at the circus under the big top and mary garland has to produce a clown on stilts juggling
bowling pins at this point. how do you go back? stuart: he is saying you've got to indict the guy, put him in handcuffs so you lose credibly, they will lose credibility if they don't tell them why they rated donald trump's house. >> we are waiting to see if this judge in south florida will release the underlying documents, the affidavits, the good stuff that tells us what the allegations are, who made them, what they are, who made them, why the big change between early june when trump and his team said they were working with the government and thought they had a good relationship and the search warrants. those affidavits will fill in the missing things, we don't know what we don't know but now that this judge said the government is fighting this and they said we want the judge to decide this, no hearing necessary, the judge said we will have a hearing thursday, and we can't hear what they are discussing information that
reveals the investigation the can't be made public yet but hopefully a quick decision from the judge and everybody agrees more transparency is more reassuring to the american people, bipartisan calls not just republicans. stuart: you can't read the home of a former president who is engaged in a presidential campaign and not tell anybody why you are doing it. this is an unprecedented case, the government must be open about the raid, got to be. >> that is the criticism they are getting, we got the search warrant which we know wasn't going to tell us much, don't get excited, won't be very detailed, the statutes they are looking at and crimes they may allege or try to indict on but the information, those affidavits, sworn statements would be helpful to get out there from what donald trump is pushing for saying he has nothing to hide, we will see, normally you wouldn't get it closer to an indictment or
investigation. there is a big push from the left and the right to get it out there. stuart: when do we find out what they found in the documents they took out? >> we are in the middle of an investigation, the justice department said in its filing to block the release of information, we are in an active investigation, to get out this information now would let out methods and sources at structure and course of the plan investigation, they will fight tooth and nail to get anything they would affect would affect this investigation from coming out. stuart: you know the law and suspect it is being used for political purposes. how wrong am i? >> that is what we don't know. that's the problem the attorney general and fbi, without underlying affidavits and more of a press conference leaves the narrative open and we don't
know and it leaves the appearance of people burned by these agencies, and slow to trust them. and stuart: big congratulations, starting september, and fox news at night starting at eastern on fox news. i don't know how you do it. i don't know how you do that. >> you love to work, and do it around-the-clock, happy to do it for our viewers. stuart: thanks for being on the show. appreciate it and see you again soon. mixed picture emerging, nasdaq down 100 and the dow is up 83 points. we need some market commentary.
is this rally for real, despite the nasdaq coming down, this is a rally, is it for real? >> it is a rally and it reflects the never-ending quest for profits for investors, greed replacing fear is what i think is happening. the old earth trade is back, people have a fear of missing out and they will confront the fed and get one inflation report that brings us down from a 1.91 number to 1.5. stuart: you are not convinced, are you? >> i think we will, long-term investors will be rewarded for an entry point today but in my mind very little chance this doesn't remain volatile, think it is going to be rocky through the end of the year until we get more clarity from the fed in that important september meeting and august inflation number. stuart: have we seen peak inflation?
91 to 85, we've seen the pecans moved beyond it? >> we very well may have. they will start letting the number come down but even if we drop by a third we are still 5% or 6% annual inflation, a long way from the fed target of two even if they raise it to 2. 5 or 3. more fed tightening on the way and hope they ease in early 2023, a bit myopic. stuart: if i were to buy some more shares of microsoft because i have a few, you know what i am talking about. if i want to buy some microsoft today what i be okay making a small profit one year from now? >> you have asked me about microsoft before and my answer is the same. we think cash flow, big tech is a good place for investors to be and there's a host of names in that area. microsoft is an industry leader, think the cloud revenue
they are generating from their competitors is a space that will grow so as long as investors stay with high quality names like you are suggesting another big tech i think they will be rewarded in the long-term. stuart: thanks for that plug for microsoft. see you again soon. let's get to walmart, still straight up 5. 4%. give us the story again. lauren: same wage inflation will be with us forever meaning you can't just cut workers wages because that is what you have come to expect and rely on. every time you go shopping anywhere i see a sign we are paying $18 an hour, perks include xyz. everyone is looking for workers, that wage inflation is sticky for walmart. want to bring that to your attention, stock is up 5% because investors are focused on they say annual profit will drop which is not as much as
expected, that's considered a better forecast for the full year investors are paying into that. stuart: the consumer is doing well and walmart is doing well and stocks, the bottom line -- lauren: consumer is looking for deals and high income consumers trading down. stuart: let's have a look at the dharna. these vaccine stocks down 5%. lauren: a covid 19 booster that targets the original covid and also -- stuart: stock is down 5%. lauren: it was up 5% yesterday and dues came out and giving back yesterday's game, not much conviction that people will be quick to get a booster after booster after booster. stuart: show me coin base. lauren: down bid. they plan to heart deposits and withdrawals for upgrade expected next month for the block chain, trying to create a new ether coin that would
dramatically lower the energy consumed during the production. stuart: just interrupt withdrawals from ethereum -- ethereum as it goes to the change. that's not quite as bad. lauren: getting people to that. stuart: $18 a coin. lauren: it is down today but up in a big way. stuart: that's the only crypto i have anything, a little bit of ethereum for my grandson. lauren: do the others, the other tween 9 grandchildren get that? lauren: on stuart: the other 9 grandchildren are invested in something else. lauren: the other tween 9 have something else. stuart: he is watching the show. the ceo of jpmorgan, jamie dimon, jamie dimon says china may be right in calling america lazy and incompetent. i wonder what mike rowe has to say about that. he does the show how america
every click you take, every move you make, every step you take, i'll be watching you. the internet doesn't have to be duckduckgo is a free all in one privacy app with a built in search engine, web browser, one click data clearing and more stop companies like google from watching you, by downloading the app today. duckduckgo: privacy, simplified. stuart: donald trump wants the about of justice to release the affidavit used to justify the rate. ashley webster in palm beach.
>> in the last hour the hearing will be held and unsealing that affidavit this coming thursday at one:00 p.m. at one:00 pm, the west palm beach courthouse in the florida magistrate judge bruce reinhardt who okayed the raid behind me twee 8 days ago, we will find out about that and donald trump unleashing a good amount of anger earlier this morning calling for the immediate release of the unredacted affidavit, he said, quote, there is no way to justify the unannounced rate of -- the raid of the 40 fourth president of the united states and got more votes by far than any sitting president in the history of our country. the department of justice has already filed a motion to block the release of that affidavit arguing it could expose highly classified material and leave potential witnesses vulnerable
to threats. we know three passports belonging to donald trump were scooped up as part of a raid, now being returned to the former president, trump attorney christina barb set a clear example of the fbi's overreach. >> the 4 corners, they felt was appropriate or they felt they could take and then go back through and look through everything once they realized maybe we went too far to negotiate the return of it. that's not the way a warrant is supposed to be executed. >> reporter: the justice department says it could okay a court order to partially unseal that affidavit as long as it was read acted and if they get their way, it will be impossible to read that document because almost all of it would be blacked out but that's an issue for the judge
this coming thursday in west palm beach. stuart: that is the news. matthew wicker is former acting attorney general, this raid can only be justified if we know the reasons for it. the affidavit must be released. that is my train of thought. is it yours? >> yes, good to be with you. transparency of the fbi needs to show, should be broad, first time a search warrant was executed on the former president's residence and that is an extraordinary move so needs to be justified by extraordinary circumstances and facts and the only way to learn about that is the affidavit.
otherwise not being forthright with the american people raising suspicions this was politically motivated exercise of their power. stuart: a man in pennsylvania was arrested and charged for making death threats against the fbi, made his threats on her right wing website through gap and followed on trump's home, the president says he wants to turn down the temperature. threats like this, actions like this how do you turn down the temperature? >> i agree with donald trump that we need to lower the temperature but as i mentioned earlier, this was an extraordinary step taken by the fbi so the american people are upset, especially donald trump supporters and political violence should never happen in
american politics, this case is inflamed folks. we need to make sure we -- all political violence is not only abhorrent but treated similarly and there are examples including threats to supreme court justices. stuart: i think it is trump derangement syndrome that has been going on for 6 or 7 years, no matter what happens it will not go away. agree with me on that? >> that is a conclusion a lot of people are making because it has been going on for 6 years, started before the 2016 election and there appears to be a segment of the department of justice but wants to get trump so badly they will take extraordinary steps to try to get him. stuart: very sad story, thanks
for being on the show, see you again soon. the fbi has located more than 100 missing children in a nationwide sting operation. that sounds just awful. lauren: it is as you find out many victims were 11 years old. the fbi's sex trafficking operation called operation cross-country that allocated 121 children, minors, 141 adults in nationwide human trafficking bust. the doj says the fbi identified or arrested 85 suspects of child sexual explode tatian and human trafficking, they will face potential charges but good job by the fbi. we want top republicans sounding off after the fbi directed chris rate used a government plane to fly to his vacation home using taxpayer dollars. what are they saying? lauren: why didn't you reimburse taxpayers for the vacation to your southern home
in new york and this is what they write, to conduct oversight of the fbi using aircraft and compliance with applicable federal requirements that continue. we have questions whether you are properly reimbursing taxpayers for personal travel on government aircraft that happened on more than one occasion and during a hearing last weekend senator grassley said how come you can't stay? he said waiting, senator grassley said you mean the government, our plane is waiting for you to go on vacation. stuart: interesting exchange. an update on the shooting that took place on the rust movie set. alec baldwin must have pulled the trigger to set off the gun. that's not what he told an interviewer. we have the tape. here is something special. unusual. vacuuming in the nude and other ways to get attention. peggy were wrote that.
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stuart: that is san francisco, the beach is almost deserted, it is almost 60 degrees. lauren: even if workers are at work. stuart: show may apple down a fraction today, they set a deadline for workers to return the office, it starts monday, september 5th. employees have got to be in the office three days a week and can work remotely twice a week. let's check the overall market. the dow was on the upside one hundred 72 points up, the nasdaq comes back nicely, down 50. i'm telling you it is a rally. a new trend among young workers called quiet quitting. it doesn't require people to leave the job, so try to help
me understand this. lauren: don't go above and beyond, skate by. >> you are not outright quitting your job at your quitting going above and beyond, still perform your duties but a longer subscribing to the mentality that work has to be your life. the reality does it not. the birth of a person is not defined by work. stuart: that is un-american in the extreme. lauren: do you think it is a trend for jen the or what all workers are ascribing to? they are prioritizing lifestyle and work to pay the bills to fund your lifestyle. stuart: i don't care what the reason is, i don't like it, you want to come to work, put it all in, climb that tree, move up the food chain, what is wrong with that? that america. lauren: not anymore. stuart: i've got to move on. look who is here. mike rowe and his mom peggy. we are going to talk about the
extraordinary book vacuuming in the nude. i will get to that but i want to talk to your son, micro. you on with your mom? >> what could possibly go wrong? stuart: the ceo of jpmorgan chase is jamie dimon. he believes there is some truth, that his words coming in china's claim that the us is incompetent and lazy. kind of look at america and say you have been incompetent and lazy, there is truth to that. we have screwed up infrastructure, screwed up inner-city schools. the bottom line here is do you think americans are lazy? >> even if i do i don't want to hear it from china. i think americans, like the chinese, our human. when you give humans a choice, when you give humans an easy button they will hit it. i will.
we are all born with this idea, we are like rivers trying to get to the ocean, you get to a mountain and you don't go i will go over that thing, you go around it. i talk a lot about this with my foundation which we offer work ethic scholarships because we believe the fault in our stars is a certain kind of inaction. we need to be encouraged to do the hard thing, need to be suspicious of the easy thing. stuart: we reported that since march, 400,000 people have walked away from the workforce, 400,000 fewer employees now than in march of this year. >> they were given an easy button. in part. i don't want to paint with too broad a brush but if you are able to support yourself by not
working versus working it doesn't make a lot of sense to wring your hands over the fact that a lot of people will choose not to work, work has become the proximate cause of unhappiness. we've been told that if you are unhappy in your life it is probably because you are unhappy in your work, we are told that job satisfaction is a result of the job but it is really not. it is a result of the person. i can introduce you to a person who wrote every day for 60 years without anything resembling a book deal. so crazy, she just happens to be -- stuart: this is where we introduce peggy, your mom. welcome to the show. that voice, the best voice at fox. it is true. let's talk about the book.
vacuuming in the nude and other ways to get attention. forgive me for asking but why have you come up with a title like that? did he suggest it? >> it is a metaphor. i have done so many things to get attention through the years, to bring attention to my writing, so many rejections through the years. never saw the light of day, because publishers wouldn't read them. stuart: which you eventually published when you are 80 years old, when you first got published. >> i had a book published at 80. during the years i did write for newspapers and magazines. stuart: your first book was 80. vacuuming in the nude is your third book. >> it is. my first book was called about my lover, my second book was about my father and this title,
it is not erotica. >> it's not a pop-up either. it is very fun. my mom, to put yourself in my place you watch your weight every day for 60 years, she introduced people, she writes their stories, always funny, always warm and never what a publisher wants until you live long enough, the world spins around, next thing you know. you talk about work ethic, don't know if you meant that kind of segue to happen. the woman works and worse, hundreds of thousands. stuart: i understand peggy go, you just went to the bar for the first time at the age of 84.
role that. >> this is my first time. first time sitting at our bar. >> i'm a are virgin. stuart: is that the first time you sat at any bar? >> the second. stuart: this is not a bar. >> nothing against it and my son might tip a little bit. >> people watch the show. stuart: didn't you give him advice to get a real job in television and get them out there, how the world works and do a good job and all that and you pushed him into that? >> sort of.
>> she called me when working at cbs, so your grandfather is 90, turned on the tv, something that looked like work. and it worked. stuart: what was the best advice your mom gave do you? >> i don't know she ever put it in these words but it was along the lines of don't follow your passion or bring it with you, find a way to love whatever it is you wind up doing at that to me has informed everything, just because you love something doesn't mean you can't stink at it and because you don't love something might not mean you aren't good at it. it took me a while to figure that out is growing up with people like my mom and dad's where you were encouraged to experiment that advice makes sense but can't compare to watching them live it. for 60 years she paid her dues and now when people talk about
overnight success, 3-time new york times best-selling author, it is overnight, 60 years. stuart: never going to retire. >> there are advantages to waiting till you are older to be successful. i've never been part of the me too movement, sexual harassment is not been part of my life. not by editors or publishers or interviewers, never. stuart: congratulations on escaping all that. >> 30 years ago it would have been a different story. stuart: mike rowe, peggy rowe, we will be watching your book special called america's grandmother sunday night on fox, 10:00 pm eastern, mike, we will be watching your show, how america works, monday night at 8:00 pm eastern on fox business. house that? a double promo. >> the only shirt i own. can't believe i'm wearing it, always the same thing. stuart: now this. a year since our troops pulled
out of afghanistan, some american citizens and those who helped us are still stranded there living under caliban control. report on that for you. 45 years since the death of elvis presley, a new movie about his life is a whole new generation of elvis fans. i saw the movie and loved it, the report from graceland is next. ♪
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that new movie about elvis is ushering a new generation of fans. we sent grady trimble to graceland, elvis's home for the annual elvis week. how much more business is graceland seeing now than before the movie came out? >> a lot more. $400 million in 2023 when you think of licensing, the movie, and visits to graceland and in 2023 even with inflation elvis will make more than any other year including when he was alive, fans of long flocked to graceland as a pilgrimage of sorts. interest is as high as it has ever been, and a younger audience is learning about the king of rock and roll. is this reached pre-pandemic levels. people who do come spending a
lot more for upgraded experience, 40% more per visitor. the managing partner of elvis's estate, why his legacy was endured for so long. >> he does represent all that is great in america, rags to riches, no other country in the world, he became what he became my to have graceland, other people don't love america so much. people love america. >> reporter: it is quite an experience especially this week during elvis week, a candlelight vigil where tens of thousands of people showed up to pay their respects throughout elvis week, 60,000 people visit graceland and throughout the year, half a million people come here, the number could be higher thanks to that movie which is available for purchase and rent on streaming services. stuart: thanks a lot.
an investigation by the fbi contradict claims by alec baldwin who says he never pulled the trigger in the fatal shooting on the rest movie set. what does the fbi say? >> the gun could not be fired without. trigger but in december -- >> i didn't pull the trigger. >> you never pulled the trigger? >> i would never point a gun and pulled the trigger. >> reporter: baldwin at attorneys say the findings are misconstrued, the gun was in poor condition. what happens now, prosecutors could bring charges, they are waiting on the final piece of their investigation which means they need data from his cell phone records. stuart: there you have it. it has been a year since the disastrous troop withdrawal from afghanistan, the white house maintained it was the right move, a special ops veteran who worked to get out of afghanistan will take that on next. andles the driving.
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the white house claimed that drone strike that killed al qaeda leader ayman al-zawahiri, that strike vindicated our withdrawal. daniel elkins is found of a special operations association of america, the white house is our withdrawal from afghanistan is okay because our attack on ayman al-zawahiri shows we can attack them at this didn't. is that reasonable grounds for withdrawal? >> for starters i think it is great we got the guy. this is the world's most wanted man. the fact that our nation's more fighters and mirrors of the intelligence community executed a flawless mission without collateral damage says a lot about our capability. the question still remains why was the world's most wanted man sitting in couple? that's a question that needs to be asked. stuart: you are avoiding looking at president biden and saying you can justify that debacle by that strike, that is
what you are saying? or you just want to be political and not criticize the president and not criticize the withdrawal? >> we need to criticize where criticism is due. the withdrawal was preplanned, it was coordinated and it was botched. i think that is why recent house foreign affairs, the report that was released draws highlight to that and asks tough questions that need to be answered. stuart: you have been working with americans left behind in afghanistan and our allies who helped us in afghanistan, to get them out. i put you those people are hostages and that caliban is waiting forced to cough up money to get them out of. is that accurate? >> it is economically driven and that's why special operations association of america leveraged our network on the ground to evacuate and resettle 5000 people here and around the world.
stuart: how many american passport holders are in afghanistan that you know of? >> i am aware of a hundred. stuart: can we get them out? >> the question is will we get them out? our capability exists to get them out. stuart: people on the ground getting to the border. >> absolutely. we facilitate a network of safehouses, provided food, shelter, medical assistance too many of our allies. stuart: do they want to come out? >> that's a question we are running into. many have family there and want to stay and at is the dichotomy of the situation. stuart: is there any move that you know of for our government in america to cough up the money to spring them? any move? >> we have to look into accountability and oversight and what is this money going to be used to do. i have serious reservations
about a regime that uses torture and terrorism to keep their thumb on the people and that should be a concern. stuart: were you a special ops guy? >> absolutely. i was deployed there and that is where the story starts, been deployed along our afghan allies, i remember special operations community and realize the value they provide an and essentially their ability to save on the battlefield. blue one were you one of the guys who drove around the motorbike or a quad in the desert chasing down -- are you allowed to say? >> appreciate the missions i have been on in afghanistan and continued service of all members of the special operations community. be when you don't sound like a soldier, you sound like a lemat. you couch everything in -- nothing wrong with that but you are a diplomat.
>> that's one of the values you learn in special operations community, the ability to do your job and communicate and articulate well at various levels whether it is tactical or strategic. we when i would not wish to come across you on the battlefield or in a debate because you are quite good at both. >> thank you. stuart: best of luck, appreciate it. 11:55, you know what that is? the tuesday trivia question. which state has the most highway lane miles? interesting. the correct answer after this. get your guess is ready. ♪
stuart: they pick some really good questions, don't they? look at this. which state has the most highway lane miles? i am not sure what lane miles means but have a guess? >> i would say alaska for lane miles. i will go california. stuart: i will go with texas. the answer is, yeah, thank you very much indeed. there are 686,281 lane miles in the state of texas. >> right two days in a row. stuart: a trend? i want to bring up one thing real fast on the markets. yes, we have a solid dow rally. the nasdaq has come all the way back but i want to show you bed,
bath & beyond. the thing right now that stock is up what, 60 odd percent as we speak, 69% up. this is the return of the meme stocks. that is what bed, bath & beyond is. to me frankly that is a gambling chip. i hate to see youngsters gambling on these meme stocks as opposed to investing in real american companies. that's my opinion. hey, neil. how are you doing? neil: you're not a bed, bath & beyond fan. i want to thank my friends, realized i have to get my fannie back here for job security. thank you to all of them. i was talking to charlie brady my dear friend here at fox
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