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tv   Cavuto Coast to Coast  FOX Business  March 5, 2024 12:00pm-1:00pm EST

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stuart: i thought this was an intriguing question, the most visited city in the world in 2,023. i but naturally say london or paris or not, i can't see istanbul. lauren: if you just touched down in the airport for a visit. stuart: ashley, you are first. ashley: i will go with paris because france is always up there, number 3. lauren: ditto, paris. >> number 2. stuart: i say dubai. the answer is istanbul. 20 million people visited the city. the best times to visit are april, may, september. thanks for sticking around during an entire hour. see you again tomorrow. the supertuesday results. coast-to-coast starts now.
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lydia: americans in 15 states head to the polls but the corner of wall and broad investors are running to the exits, it has been a steady reprieve but not an unusual one for the usually reliable technology stocks. a bit of a giveback going on. more folks are focused on delegates today. we are here to tell you about dollars today. we get a sense of what it might mean. just coincidence if not a big primary day. what do you think of how the markets are doing? >> i have been calling for markets to pull back for a while. neil: 300 days without a major -- >> they talk themselves into a narrative of 6 or 7 rate cut in 2,024 which was completely illogical to me. neil: he said that early on.
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>> considering what the data is telling us. the markets kissing all-time highs. where's the disconnect? i think last week between what fed officials had to say and tomorrow and thursday's presentation, he will reiterate the point. it's always on the table, he is in no rush but nordstrom, we expect them to be in a rush. all systems are going it feels good. neil: you don't see likelihood of rate cuts? >> they should not cut rates at all. the data doesn't suggest it. i think there's a whole generation of portfolio managers and investors who came to the market when rates were 0, stayed for 15 years and that is all they know. that is normal. charles: the their kids can't. did i tell you what my wife and i paid for my first mortgage. a whole generation that doesn't know rates are handled higher.
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>> looking at it historically, 18% when we were their age it wasn't 0 but 2% is not normal. todd: the say we take that out of the equation. you were ahead of the curve and hats off to you but a lot of people aren't and the longer we go without a rate cut, do market have a tantrum? >> if they kept assuming about the narrative get out of control if they had no intention of coming and now they pushed back on the narrative but the idea, rate cuts may be coming but not in march and may and there's a question should they come in june, they shouldn't cut until after the election because you are in that 6 month window. neil: the presidential election year is usually good no matter who is in the oval office but you see that playing out again? early on this year it seems to be?
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>> i think the market will end up in a better place at the end of the year but i think some parts we are hitting, the selloff is easy, not angst, no one is screaming and yelling but is a reevaluation of assets, money moving out of hitec but moving into other sectors. stuart: 20 how do you feel about the whole thing, nvidia and the magnificent seven broadened out anytime there's a selloff, i noticed the next day something later the same hour, they go right back into stock and i think that is true. >> as a long-term investor you don't try to time it but staying with your core position, ibm and apple, amazon, the market is not great but use that as an opportunity, down 2% or 3%, that is an
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opportunity for the long-term investor. neil: there's a lot going on. donald trump was talking about markets, he credited himself saying he was the reason for the markets, i know how you feel about that but that gets to be an issue a few months from now. >> resident biden the other day a couple weeks ago came out and said look at the markets, all-time highs. when he became president he said he doesn't look at the markets, suddenly the markets kissing highs and he said look at me, look what he did. neither of them are responsible. it's an economic cycle. it is not specifically on each president to claim victory how the market performs. neil: we went to pick that fine brain of yours, talking about
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these markets, we should point out it today for candidates to make their final claims, donald trump, runaway front runner on the republican side, nikki haley with one or 2 wins today, could be an uphill task. bill melugin is following her in charleston, south carolina. >> reporter: we are here in charleston, nikki haley later today, doesn't have to be a public event but we have asked her what is she expecting going into tonight, she wants to be competitive. we asked what does competitive mean? she says the media will decide that. earlier this morning she was asked if tonight doesn't go well is she going to drop out? here's what she said. >> don't know why everybody is so adamant they have to follow trump's lead to get me out of this race. all these people deserve to vote, 16 states want to have their voices heard, let's let their voices get heard. i haven't heard him pledge to
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me that he would support me if i won so i don't know why i have to pledge to him. >> here's where we stand on the delegate count as of this morning, donald trump 73, nikki haley 43, you need 1200 to secure the nomination. nikki haley has a lot of catching up to do. this is video of her in texas, her final campaign stop before supertuesday, she's getting chunks of voters in each of these early states, those people aren't going anywhere anytime soon and she feels trump does not own all of the republican party. she has slammed the door shut on a third-party no labels bid telling us she is republican, conservative, and has no interest in that. a lot at stake, 850 delegates up for grabs. nikki haley will be in charleston today but her campaign is telling us there are no events scheduled today and they don't anticipate that changing.
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neil: bill melugin in south carolina. marco meredith following the former president, hoping for a sweep? >> even if he were to do that, he would be just short of clenching the nomination. as they go into this race i believe he will be the republican nominee. >> i want everybody to come together, unified party because our real opponent happens to be biden and he is a disaster, the worst president, destroying our country. >> reporter: trump's team said it is ready to pivot to general election matchup against president biden, he has seen the president's campaign focusing attacks on trump. trump is a major factor in the
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gubernatorial race. mark robinson is favored today but some republicans have considered him a liability in the general election with past controversial comments on gay-rights and guns. darrell falwell says republicans need a traditional message if they plan to win the tar heel state. >> mark robinson trying to rise to power. the republican party of the state and every state is party based on hope, not hate. courage, not rage. >> reporter: a lot of focus on north carolina, some people are dugouts today. the gubernatorial race will play out big, it mirrors what we see between a trump biden contest. neil: i notice you are wearing a nifty tie?
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rarely are you wearing a tie. i wonder what has the decision for you. >> reporter: i try to look for you. it worked out a little well. i'm with you saturday in georgia. neil: as long as you are there, we always try to get him a little off key but i will keep trying. the wall street journal editorial board never, former bush 43 gift speechwriter. pretty good with pro-plaps herself, thanks for coming. your sense of what is at stake for nikki haley, she trails in all the states running closer in massachusetts, minnesota, virginia or vermont but even if she were to pick up all of
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those and lose the 11 others she is far behind the 8 ball. >> i think it was clear for some time that the path to unseating donald trump as the nominee was not going to come through the republican debates. that didn't have an effect, or the primaries. nikki haley's only hope is the court cases or something else blows up and blows donald trump off the tracks. democrats have a similar problem. they are not going to defeat joe biden in the primaries. if they go to conventions, she's not guaranteed that she is the ultimate but should be a contender. i don't see her going the liz cheney route, she will doubt no labels and so forth, but i
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don't see that. neil: president biden, the state could wrap it up formally the nomination today. the support is robust, and committed and come back to haunt him. not to the point it affects but doubts about whether he is up to the job and this poll out that shows 60% of voters question his mental fitness. where does this part of the story go? >> great question. we are all wondering because this guy could be reelected and be president another four years. michigan, quite a number of uncommitted votes but barack obama had 10% when he was running for reelection uncommitted, but i'm not concerned about that.
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the bigger worries people staying home on election day in november. if you have the vast majority of americans don't think this guy is fit for another four years as president, what is going to get them out there? democrats always rely heavily on getting out the vote operations and his support declining among groups that normally are very heavily democratic supporters among the young, minorities, blacks and hispanics. if those people stay home, biden has a real problem. neil: i am curious what you make of the biden administration's argument that the markets are there friend, never talked about it primer, it's a reflection of economic numbers, a pretty good jobs report friday. they are assembling 200,000 more workers who found jobs in the latest month and they say they have time to make that
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resonate. but so far not. even in the case of those seeing it, they are not crediting the president. it is like double jeopardy. >> the big obstacle is pricing. inflation is reducing the rate that prices go up. prices are higher, 20%, than they were when biden got in. i go to the grocery store and buy a sack of groceries and just amazed, 50 bucks for 5 or 6 items. up to now the biden administration's argument has been the american people are too stupid to appreciate how great he has been. he's talking about bringing inflation down, but doesn't talk about who caused it. the people aren't fools, they don't feel better off. they don't feel we are in an economy creating jobs and
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moving ahead. the biden argument comes down to you are wrong and we are right. i don't think that is persuasive. it was a big flop. neil: never want to tell the american people you are imagining it. that doesn't work. i want to alert you you are hearing about these outages at meta platforms and facebook and instagram. half a million started being affected, could be more than that. the biden administration said it is monitoring all of this and the -- they experienced issues meta-is having are not necessarily more widespread than that but, for example, google's status page some gmail users are experiencing elevated error rates while performing
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various actions with delays in email delivery, youtube has issues with videos you're trying to download but it does seem to be spreading. i don't want to make a bigger deal out of it but it is widespread and they are trying to get to the bottom of it. stay with us. (vo) what does it mean to be rich? maybe rich is less about reaching a magic number... and more about discovering magic. rich is being able to keep your loved ones close. and also send them away. rich is living life your way. and having someone who can help you get there. the key to being rich is knowing what counts. las vegas grand prix choose t-mobile for business for 5g solutions. because t-mobile is helping power operations and experiences for hundreds of thousands of fans
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neil: we are seeing bitcoin trading $64,000 a coin but had traded early this morning, trades around the clock, $69,208 bringing the old record back to november of 20 one, 60,990. europe about 48%, 50% year to date, more than doubled your money the last 12 months so not for the faint of heart. let's get the read from the managing director of research. what do you make of that wild ride? >> reporter: it has been a period of terrific performance for bitcoin and other digital assets. the approximate because cause of the rally has been the launch of stock bitcoin etfs listed in the us market, these products have seen incredible demand at their start totaling
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around $8 billion since early january, but the underlying reason for investor interest in bitcoin has always been macro in nature, bitcoin is a macro asset that competes with the us dollar and competes with physical gold and investors are interested in those attributes in a portfolio context, looking ahead to federal reserve rate cuts, it contentious presidential election that neither party is focused on, deficits or the debt, seeking tools for bitcoin to protect their portfolios. neil: it's not for everybody. you remind folks that is something but you could say the same about gold, silver, copper, alternative investments. bitcoin and these other crypto places deserve that but you think with etf trading that is allowed in april, another crack at having which would limit the
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available supply, a good 1-numtwo punch there. >> there are tons of fundamental positives for crypto today and etfs are just a new product structure to provide access to the market but those fundamentals that ultimately drive demand drive price so today you are just seeing high demand but because of macro reasons, rate cuts and value assets in a portfolio, colliding with tight supply, the issue of new bitcoin will fall by half in april of this year so high demand and tight supply is driving up prices. neil: in the market, how this type of investment in bitcoin, crypto, in general, does, under
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potential trump administration versus a biden administration and sec chief who really hated and seems to and reminding folks that we allow etf trading i am watching. i wonder if it would be a different environment in a trump administration? do we know about those who surrounded their thoughts on this type of thing? >> the macro policy issues that are on the ballot, how those affect outlook for the us dollar and economy and therefore if demand for alternatives to the dollar like bitcoin. things we watch on fiscal policy on deficits and debt, how those things will change with the election and it is probably more important not so much who is in the white house but who occupies the white house also controls congress. if one party controls both branches of government, it's easy to get fiscal policy changes and acted, maybe tax
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cuts on the republican side, spending, the democratic side, could face the deficit and support bitcoin. it's about those macro policy issues, not so much the specific legislation. neil: that makes sense. we will see how that works out. thank you very much. good seeing you. okay. we are following not only what's going on in bitcoin but this outage on facebook and instagram, threads and other stuff, google and gmail service, seems contained. every time i look, wiped out some of the key player. we are on top of that. what happens to nikki haley after tonight? she's counting on winning one, two, four possible states but polls are still tight. doesn't mean a beginning for her but for a lot of her financial backers, she doesn't do well, this could be the end of the financial gravy train. after this.
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neil: after supertuesday, 15 states, will nikki haley be able to look forward to this campaign, depends on what her backers decide and how she fares in 15 states up to grab. charlie gasparino on that part of the story. what can you tell us? charles: she probably has enough money to stay in the race for a while. not one single republican consultant i talked to said she would. probably not drop out after
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tonight, by the end of march, it's over. she has money but the money at some point. . is the simple reason, more and more republican donors who don't like donald trump's personality the more they think of four years of president biden, four years of brutal unrest, four years of reckless spending, four years of massive regulatory state, they look at it, will nikki haley elected president biden if she keeps essentially staying on the attack against trump through the rest of the year or the convention? that's where it is right now. pretty sure can landgone or major backers of nikki haley, all republicans, all
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traditional conservatives, we could say, pretty sure they don't like donald trump's personality, they hate what happened january 6th, also pretty sure that dollars to donuts, they see four you years of what's going on in washington right now particularly with the democratic party being controlled by progressive left that hates israel, almost openly support anti-semitism, dollars to donuts they are not going to vote for that and at some point, based on everything i hear she will pool it. we shall see. if she stays in longer than this month she might as well, she's running on no labels, there's no reason. she has no shot at the nomination and the she just elected joe biden. neil: donald trump next week captures it. we watch it closely. charlie gasparino on that.
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enough people are rallying around the to donald trump, looks like he's going to be the nominee but not everybody. including some on the part of the bush family, jonathan bush, president george w. bush or george hw bush, well steeped in all things bush. better known as -- i'm sorry. >> drowning in bush. adam: is fine. i did notice -- he said and wrote that editorial in the editorial last week, the fine against donald trump, too excessive overtime and i wondered whether that was part
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of a strategy, raised this with george v bush, his child, what he made of that and individual by individual. >> of course it is was we are not automatons. very loving but intellectual discourse thrives. the counterpoint is may be nikki haley is not electing biden but making trump electable by standing up -- the republican party is, what did lyndon johnson say, things go a certain way, everybody paints there ass white and runs with the envelope and hopefully not making too much eye contact with people who know them. they are being dishone themselves. there's a lot of cringing in the trump camp as people grit their teeth and brave with wire brush on the way from the
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ballot box, nikki at her camp seem to be standing up to that evermore articulately and more traction. two senate endorsements yesterday or the day before and her story is getting stronger and her stuff is getting stronger. i think she's making the republican party better, not handing it to the biden in any way. and i think your point about job's hotbed and the more absurd kind of woke da posture cases against trump, enabled trump's outrageous behavior because the cases are so outrageous that they make him look good by comparison whereas nikki haley's attacks are spot on. republicans lose when trump is at the helm. we lose down ballot left and right because too many soccer
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moms can't stand the guy. neil: a lot of them, he's running away with it, people used to begrudge the fact that he was running again for president, john thune, number 2 ranking republican in the senate, the latest to do so. others are falling in line. mitch mcconnell, the party is saying looks like he will be the standardbearer. get a sense of nikki haley, that's not an automatic. she doesn't like the way the are in see is a stacked deck against her and others points of view. you are big nikki haley bakker but doesn't look good for her. would you support donald trump? >> good question. the idea i whatever, any american would have to choose between donald trump and joe biden in a nation of 375
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million, astonishing, one that i'm still trying to grok. i like the fact that i'm behind nikki. i will follow her lead. she exposed herself, put herself out there. and has accumulated a lot of reasonable, thoughtful, conservative patriots who don't think soldiers are suckers when they get injured, the scale of trump's of front on our dignity as a nation is hard to grapple with. send a murder weapon in. i am happy to go her way. a lot of folks behind nikki haley feel that way. neil: do you feel one of the most respected political dynasties, families, would include the bush family, the kennedys, the roosevelts, it's
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not the same old party, not your same old party any more than the democrat party would harken back to roosevelt's day let alone jfk's day. your symbol of the past, talking about the bush family. >> any time anyone says dynasty in the bush family, where is the secret decoder rings? did i miss out on the dynasty? it's just a group of people who had a grandfather who ran for senate, ran on a partial, got appointed, won reelection. adam: relevance named prescott. in my italian family, one prescott -- >> i think all parties, all countries, all organisms change all the time. one of our first instincts when we see those changes is to go what have we become?
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when you look back at the corruption of our party, all the way back to reading about us grant, we are not so bad. our debates have gone from republicans on this 30 yard line and democrats on this, now we are arguing between the 45s in terms of substantive issues. style points are astonishingly bad on both sides but i don't think we are heading for armageddon because one creep was able to get a hold of the ring for a while. neil: this is a family show. you have a great sense of humor. >> people are saying creep. i'm hearing creep. lauren: 20 people are saying that. thank you very much, great to see you again. >> it is an honor. neil: meanwhile, talking about the president, the white house,
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attacking what happening with inflation but holding companies accountable for that and now launching something called strikeforce to find out what it is about. strikeforce. we will tell you what that is about after this. ♪ (woman) what if my type 2 diabetes takes over? what if all i do isn't enough? or what if i can do diabetes differently?
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>> we have to do more. junk fees has been something he has gone after quite aggressively. we have an elaborate agenda. moving in the right direction as well. neil: when you talk about addressing issues like whether
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businesses are rigging get this seems dumb to me, no offense to you. i feel like when i hear the administration crowing about more spending without inflation control. and more control than it was. like you guys are taking it out for something the fed did. >> very substantive disagreement. julie: of the council of economic advisers, but they seem to be pointing fingers at everyone, pointing fingers everything but the fact that i like to eat a lot, just doesn't make sense. edward lawrence following that, holding a lot of companies accountable for unfair practices they say are rising but not then. >> if you follow the logic it is the can fault, not your fault.
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the president in 21/2 hours, the competition counsel, you heard jared bernstein mentioned that. the strike force goes after unfair and illegal pricing. members of the doj, the ftc are in that strikeforce, the goal is to make sure they are not rising prices to gouge consumers. the president did this in 2021, directed the ftc to look at oil companies to see if the price increases were because of just gouging. companies are reacting to higher costs. on the earning call, larger retailers are pointing to higher prices. president biden trying to change the perception and deflect the blame for inflation and higher interest rates people are dealing with was the argument from the administration is lower in employment rate, the economy creating 5. 4 million jobs after adding those lost in the pandemic should be enough for people.
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the market watchers say the pain is deeper than that. >> it's ironic when you have such low unemployment, relatively strong wages and awful consumer confidence, the american consumer seeing what's happening at the border, seeing what's happening with deficits, seeing what's happening with that. combined, that is a big driver for the slowdown. >> reporter: the consumer is holding $1.3 trillion in credit card debt, servicing at higher interest rates because inflation. if you look the polls, the data consumers blame inflation. neil: blaming inflation on these companies. strike force, i do like that. there we go. thank you very much. kenny polcari joins us now, he is very frank, can say a few
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words, we have to remind him you have to use family-friendly language but you had some views on this subject. anyone but us. >> it's completely misguided to the point they are trying to deflect it, push it away from biden, blame it on anybody but biden. neil: not for the scrupulous companies you would be okay. >> what are their cuts doing? is it too bad you're paying high prices but can't raise prices or fund your business properly? it is ridiculous to think that's what's happening. especially the timing. if it comes back and hits him. neil: off of the worst levels that we were, running last summer. it's getting closer but not two, just wondering what is the
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magic number where they don't get to be a target? >> i think what they are going to do is raise their target from 2% to 3% because we are right there, 3.4%, much closer -- neil: the cut stuff. >> i don't think it will happen at all. at all. if anything after the election i don't know if they will be cutting down. neil: the underlying economy is doing great, we are seeing ford sales up 10%. >> the hybrid -- diane: of these are cheap, yet that hot. >> i think people are still
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week, it's the hybrid cars, once again gaining momentum. because listen. i wouldn't have a problem buying a hybrid car but don't want to be dependent on an electric car. neil: house the consumer doing? >> feeling stressed. servicing debt with higher interest rates. revolving credit card rates are close to 30% on some of them. 30%, bloomingdale's at nordstrom, 30%. they are feeling stressed. neil: great seeing you. thank you for keeping your language clean. we have a lot more coming up. scott martin's read on these markets at this time, supertuesday but in an election year, time to make money and people are so far, stay with us. ♪
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municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free. now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least $10,000 to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income are federally tax-free and have historically low risk. call today to request your free bond guide. 1-800-217-3217.
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that's 1-800-217-3217. when i was your age, we never had anything like this. 1-800-217-3217. what? wifi? wifi that works all over the house, even the basement. the basement. so i can finally throw that party... and invite shannon barnes. dream do come true. xfinity gives you reliable wifi with wall-to-wall coverage on all your devices, even when everyone is online. maybe we'll even get married one day. i wonder what i will be doing? probably still living here with mom and dad. fast reliable speeds right where you need them. that's wall-to-wall wifi on the xfinity 10g network. neil: markets do okay in presidential election years. most of the dow stocks down, technology took a big hit today.
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presidential election years are friendly for the corner of wall and broad. scott martin, do you see this trend continuing? scott:i do. funny how every presidential election cycle has differences not under the service depending on who's coming in or going out and congress, in the case of typical nomenclature, the third year is the cycle that we saw last year is totally true. the fourth year being the second best, a lot of things to be excited about. through the beginning of march. neil: they don't like to talk about the markets often criticize donald trump in the years where every record was on hand and they didn't want to make that a focus even though they did quite well but as you can bet, they are talking about the markets. don't know if they are taking credit for artificial
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intelligence and easy money so far. what do you make of that? >> this president gets confused when it comes to the economics, whether the market is going up, you don't hear that much about anymore but a president that hopefully looks like he is on his way out and doesn't understand the cost of a pound of ground beef, doesn't understand the cost to the average american what a gallon of milk will charge you at the store or certainly doesn't understand what taco bell cost and confuses things like britney spears and taylor swift. maybe their hair smells typical or similar to each other but things the president seems confused about a canonically speaking are certainly things the market is looking forward to, having somebody else in the seat who understands economics, donald trump understands business, understands transactions, understands real estate, that will help the market understand going forward the next four years however it may be if it is not president biden the market will be in a better mood.
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neil: normally there is a lag time, voting as a result, the administration argues it has time to make that connection with voters, something george h w bush didn't have in 1992 when the economy was turned around too little too late. will this resonating time? >> yes, similar case. if the economy -- the american people are feeling distrusted, feeling -- with the administration, the a ministrations says how great the economy is and how great inflation is when it is not true, we are still facing an uphill battle with regards to inflation, interest rates as you talked about with charlie gasparino, interest rates affecting the consumer, affecting banks, something that needs to work itself out as we go forward. neil: facebook, instagram, threads, reporting widespread disruption and they are working on it. still working on it.
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new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. neil: looking at raleigh, north carolina, virginia's 48 delegates at stake today, north carolina has 74. 865 delegates being pursued today. we will know tonight how much all of that is faring. let's go to jackie deangelis

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