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tv   Varney Company  FOX Business  April 17, 2024 9:00am-10:00am EDT

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that's six-tenths of 1%. so, arguably, the average female player should make $57,000. so with the average female salary at a $110,000, argue by, they're overpaid by double. maria: wow. >> i know if. you hate me for it -- [laughter] maria: i think you make the right case. it is about the audience you're generating. >> yeah. you make a very good business case. symbolically, i think this is a problem. but i think importantly, what i think we're going to get from caitlin clark is much more attention on women's basketball. the ratings for the final four, in the finals for the women were higher than it was for the men's, so they're getting a lot of attention. let's see what happens -- >> i think she should get paid more, but i do understand, and with we talked about this before, but she obviously will get the endorsements as a well. maria: that's true. the endorsements will bring lots of money. thank you, everybody, we so appreciate you being with us. "varney & company" pix it up
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now. stuart: i just want to say that adam a onsovereign is going -- johnson is going to be on my show tomorrow, and i can't wait with. good morning, everyone. trump expands his campaign. he thinks he can win america's heavily democrat cities. tuesday he left the new york city courthouse and headed for harlem where he was greeted by a large and diverse crowd. he visited the bodega where a clerk had been charged with murder after he stabbed an attacker who was an ex-quick.. -- ex-convict. trump is campaigning on an anti-crime platform. the president campaigned in pennsylvania. he wants to tax billionaires and corporation. he style thed himself in contrast to the man from mar-a-lago. how about basement man versus bodega man? the federal reserve downplays rate cuts, not good news for many investors. mixed picture the wednesday morning. modest gains across the board. dow up 30, nasdaq up about 50. interest rates, they're holding firm. the 10-year treasury yields
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4.63%, down a fraction there, but but the 2-year getting real close to 5, you're at 4.96 right now. bitcoin, no recovery, still down around $62,000. by the way, the halving that's supposed to limit supply, that will take place saturday. gas up 2 cents. the average for regular is $3.66. diesel up 1 cent, $4.05. politics, biden bends to the greens. he's killing a massive copper or project in alaska which trump had okayed. the environmentalists are thrilled, alaska is not. trouble at google. the company has a billion dollar contract with the government of israel. some employees don't like that. they hut down the project manager's -- shut down the project manager's office area and demanded the project be terminated. they were arrested and led away many handcuffs. it's wednesday, april 17th, 2024. "varney & company" is about to begin. ♪ ♪
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♪ oh, children -- stuart: ah, there's something about the rolling stones. the 1960s was a wonderful decade -- can. lauren: i wish i knew if it. >> are we starting "varney & company" or scorsese? because he has this song in every single -- stuart: does he? >> yeah, he loves that. stuart: by the way, who's scorsese? we're going to start with trump's criminal trial. the first 7 jurors have been selected, and after court trump went and campaigned this if new york city. he wastes no time, does he, lauren? lauren: no. he slammed the new york d.a. and the judge. where's the crime? if and then he traveled a few blocks north to the crime. he visited that bodega where jose alba, remember that name? was initially hit with a murder charge for defending himself against an ex-con.
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trump's trip highlights that disparity. >> yeah, now they believe, i heard 78% think it's a rigged deal, and it is a rigged deal. our courts, everything is screwed up in new york. and the whole world is watching. this judge is so conflicted. we're doing better now than we've ever done. >> we love trump! lauren: we want trump, four more years, they were chanting. so the thing is this, if democrats want to take him off the campaign trail by keeping him in the courtroom, he'll just campaign locally. he's due back in court tomorrow, by the way. jury selection will continue. seven have been seated, eleven more to go with the alternates, and the judge is aiming for opening statements on monday. aced of that trump will hold -- ahead of that trump will hold a rally in north carolina this weekend. stuart: that's speeding up the timetable. jury selection was supposed to take two, even three weeks. lauren: that's the goal. yeah. stuart: trump says new york the has gotten so bad, he's making a play to win the city. roll it.
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>> number one, you have to stop crime. you let the police do their job. they have to be given back their authority. they have to be able to do the their job. we think we can win. when half a million migrants have poured in, they took over your hotels, they took over everything -- [inaudible conversations] you know what they've done? they've destroyed so many people. the african-american community now is not getting jobs. migrants are taking their jobs that are here illegally. hispanics are not getting jobs, migrants are taking these. stuart: todd piro, we we rarely see a republican candidate for anything up here in harlem and get a reception hike that. is he making inroads? >> it's usually a lost cause. this time i don't know. if all likelihood,, he's not going to win new york. but, dot, dot, dot, you never know. what's so fascinating to me about lauren and my story right now, look at the people that trump wants on his jury per multiple reports. he wants young black men.
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he wants latinos of any gender. look who he doesn't want, liberal, rich, white women. why? because they're not impacted by the crime the same way the young, black male is, the will that tee know is. the latino is. those individuals are hurt by the crime, they're hurt by the illegal migrants in this city. they are looking for change. and to them, trump could represent that change. stuart: if he lowers the biden vote in the city, he's got a shot of winning the overall state. outside new york, it's trump country. >> 100%. stuart: across the board. thank, todd. an op-ed in "the new york times" makes the claim that biden's path to the presidency is more narrow than trump's. why are they saying that, lauren? lauren: this is from a senior adviser to bill clinton. he says the path to 270 is much more narrow for biden because it depends on the swing states. there are seven swing states. here they are, nevada, arizona, wisconsin, michigan -- north
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carolina, georgia. he goes through 11 different scenarios, but he bottom lines it a biden victory is incumbent on michigan, arizona and north dakota where the abortion issue -- nevada where the abortion issue is a motivating factor. and that's why you're hearing a lot about abortion. michigan, arizona and nevada are the states that he says biden feeds if there's any chance of him -- needs if there's any chance of him winning. stuart: thanks, lauren. one democrat pac founder telling biden, hey, stop catering to the far-left progressives. who's saying this and what is she saying? >> her name is lauren harper pope. she says that the progressive left, they weren't the ones that put biden into office. quote, the voters that elected biden in the first place is are the center-left voters that liked his centrist policies, not the elizabeth warren, bernie sanders slice of the electorate, yet the administration seems to have a fear of talking about things people actually care about if it might offenda small group. she's right that biden's base is
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center-left, but if that far-left bloc doesn't show up to the polls in november, fors going to be -- it's going to be a huge problem for joe. biden barely beat trump in 2020,ing and to chime in on what lauren was saying about michigan, this explains why he has been so pro, let's face it, or hamas since october 7th. you may not like to go that far, but that's what it is, because he doesn't want to lose the radical michigan muslim who could put him over the top in that state. lauren: the swing states will determine the election. if you look at the rcp average of polling, trump is up in six of the seven. biden is up .if 1 is -- .1 in pennsylvania where, conveniently, he's been 30 times, most recently this week since he's been in office. stuart: celesting -- interesting. biden slammed trump's economic policies at his rally in pennsylvania last night. watch this. >> he looks at the economy from mar-a-lago where he and his rich friends embrace the failed
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trickle-down policies that have failed working families for more than 40 years. scranton values over mar-a-lago values, these are the competing issues four economy and that raise questions of fundamental fairness at the heart of this campaign. stuart: however, 41% of voters prefer trump on the economy to 34% for biden. david bahnsen with us this morning. how do you think mar-a-lago man stacks up against scranton man, david? >> well, obviously, that whole language is crass warfare and political -- class warfare and political marketing. and i suppose it's fine as a political message, but substantively i get tired of the class warfare. and, candidly, wages grew the post after trump's business tax cuts at the lower income. that's where the highest percentage of wage growth came from if when we did that the very needed business income tax reform. so there's things that i might
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disagree with in the trump economic platform, but those are the things that biden continued with. for example, he hasn't touched any of the tariffs at all that president trump put on. so i don't think there's as much daylight as he wants to say other than in areas where president trump was pro-growth and president biden is clearly not pro-growth. stuart: david, one of the most popular features of your appearance on this program is when you give us us some dividend pix. that that's the nature of your business -- picks, picking strong and growing dividend players. start with ken view. you like 'em. how much do they pay and where are hay going? >> ken view has a 4.5% yield, but it is a spin-off from johnson and johnson. for decades johnson and johnson had a huge consumer staples product, tie he e knoll, baby shampoo, you know, products that almost every household in america has. that's what ken view is. so great dividend and we think a stand-alone company company that is not getting near the attention it deserves.
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stuart: lockheed martin. i understand the attraction of that in time of war. how about the dividend? >> well, again, you're talking about right now if you bought the stock 10 years ago, you're getting 8% dividend year-over-year on what you paid 10 years ago. and the stock on top of that is up 175%. so that's where this dividend growth matters. so right now you buy it at about a 3% dividend, they've grown the dividend% per year. -- 9% per year cash on cash growth. and, yes, it's true, with all the geopolitical uncertainty, people like a company like lockheed feeding our defense sector. but this is a very profitable company in all kinds of periods. we love lockheed martin. [laughter] stuart: so does america. david, thanks very much for joining us. i know we'll see you again can soon. thank you, david. coming up, president biden says he's ahead of trump in dozens -- his word, dozens of polls. watch this. >> guess what? even in the polls that aren't
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being used, we're moving ahead in 35 polls. stuart: really? 35 polls? we're going to break down the numbers for you. israel continues to weigh a response to iran's attack, but is job one for israel take out hamas or go after iran? what's job one? morgan ortegus gets into it next. ♪ ♪
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stuart: 15 minutes to the opening of the market. i see a little bit of green on the left-hand side. dow up maybe 90, nasdaq up maybe 80 points. that that's at the opening bell 15 minutes from now. israel continues to weigh a response to iran's drone and missile strikes over the
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weekend. trey yingst joins us from israel. what's iran saying about a retaliation? >> reporter: hey, stuart, good morning. the this morning the iranians are threat temperaturenning to retaliate if they are targeted in an israeli strike, and it comes as the united states says they will impose sanctions on iran's drone and missile programs in the aftermath of that attack over the weekend. the move if meant to pressure the islamic republic and dissuade israel from launch. ing a heavy counterstrike. now, we do know on tuesday u national security adviser jake sullivan released a statement about the situation saying, quote, we will not hesitate to continue to take action in coordination with allies and partners around the world and with congress to hold the iranian government accountable for its malicious and destabilizing actions. israel is now faced with a challenging decision about how to respond. they're threading the needle between regional war and sending a message to iran, trying to avoid a larger conflict. iranian officials are
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threatening to attack the israel again if there is anymilitary action taken against their country. -- country. david cameron said this about the situation on wednesday while visiting israel: >> the situation is very concerning. it's right to show solitarity with israel. it's -- solidarity. it's right to have made our views clear about what should happen next, but it's clear the israelis are making a decision to act. >> reporter: right now we're following a developing story out of northern israel where 13 people were reportedly wounded following a hezbollah drone attack. remember, hezbollah is iran's largest proxy in the renal. stuart. stuart: trey yingst, thanks so much. morgan ortagus with me now. we have retired lieutenant colonel james carafano on with us yesterday. i admire his expertise. he says israel's number one priority has to be destroying hamas in gaza. iran is number two. what do you say to that?
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>> james is a good friend of mine, and i agree with him. from the perspective of what is the most important thing for the israeli people, they have made it clear that they want hamas destroyed. they don't want to have to live in the terror thinking that hamas is able to come over the border and do the awful and heinous crimes and terror activities that they did on october 7th. so there's anywhere, you know, estimates about four brigades in rafah. many of us think, by the way, it is way overdue for bibi netanyahu9 expect war cabinet to go in there. they were obviously held off during ramadan by the biden administration and others. so i guess, listen, from terms of immediate threat, absolutely, it's hamas. unfortunately, israel is surrounded by enemies, and they have had an unprecedented attack last saturday night where iran tried to attack israel from within inside iran to inside israeli territory, and and that has to be responded to. stuart: okay. democrat lawmakers were pressed
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on anti-israel protesters chanting death to america and burning the american flag. i just want you to check out their response. roll tape. >> does it sound like this is pro-palestinian or anti-american if they're burning american flags and chanting death to america? >> i'm not privy to, to -- i haven't seen these reports. i'd have to check them myself. >> reporter: do you support burning the american flag and chanting death to america? anti-israel protesters blocking the brooklyn bridge burned the american flag and chanted death to america. do you condemn this type of rhetoric? >> [inaudible] to our next event here. >> reporter: are you okay with people burning the american flag? stuart: look, you saw it, morgan. they can't even condemn anti-american speech or burning the flag. in my opinion, this is a fifth column inside our society which is doing us no good. am i going too far? >> no. listen, if you can't condemn it,
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it was because with, ultimately, you agree with it. i believe in free speech; right in it's a founding principle of this country. however, what you're seeing in these, in these, quote-unquote, protests, it is the hate speech and it is open support for terrorism, and that is certainly not, you know, presented by the constitution. you know, i think some of these protests are getting awful ally close to providing cover and support for terrorism. finish what i don't understand is why in this country we allow people to emigrate here who hate us, who hate america. i think we should look at all of these protesters. if they're not american citizens, if they're here on visas or whatever, time to go home, right in time to get out of this country. stuart: you were in the trump state department, as a i recall. you served in the state department in the trump administration, and i remember trump trying to keep muslims out of america from several muslim countries saying you can't come here. would you do that again? >> well, what really happened is that we looked in the trump
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administration, in the early part i actually wasn't in during in this time, but in the beginning of the administration, they looked at countries that were working with us on counterterrorism vetting, on security checks, and if those countries did not have the proper protocols in place, if they were not working with dhs and with our other agencies within homeland security to properly vet who was coming from the unite, we -- the united states, we imported or, excuse me, we put that ban in place. it wasn't against religion or people of any faith, service against governments who could not properly meet the security protocols to vet people from their country coming into the united states. stuart: do it again. morgan ortagus, thanks for joining us. we'll sew you again soon. thank you. new report, china is encouraging companies to manufacture materials used to make fentanyl. what's that all about? >> literally worse than we thought. a new hows report detailing just
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how much china is poisoning our country on purpose. the ccp has subsidized the manufacturing and export of materials used to make fentanyl and other accept nettic drugs -- sin net thetic drugs through tax rebates and grants, the precursors to make the deadly pills. but the companies, get this, only get the financial incentives as long as the drugs are sold outside of china showing ccp wants more fentanyl entering our country. here's the treasury secretary when pressed by fox business. >> were working with them on fentanyl. that was a deliver can, from the woodside summit, and we're continue that work with. this isn't about sanctions, it's an area of cooperation. >> the report also found that the chinese government holds ownership interest in several companies tied to drug trafficking and even this warranted investigations into illicit manufactures by warning the actual targets of an investigation when u.s. law enforcement sent a formal request. they're not on our side. it's high time every american
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realized that. stuart: todd, thank you very much. check futures, please. we're opening the market in about six and a half minutes. we've got some green. dow up about 100, nasdaq up about 80. the opening bell is next. ♪ don't let go, you've got the music in you. ♪ one dance left, this world is gunning for you. ♪ don't give up, you've got a reason to live -- ♪ can't forget we all get what we give ♪
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call or go online to request your free quote today. stuart: three minutes til the opening of the market. looks like we'll open in the green two and a half if minutes from now. eddie ghabour is with us this morning. we've had quite a significant selloff in the month of april and late march. are we going to go down some more, eddie? >> i do think we will here in the near term. the risk-reward is not favorable, and this is why. we sold about a third of our equities and tactical strategy on monday morning during that big rally, and it's okay to sell winners when the risk-reward is setup is not good. we're waiting and watching to see how these next few weeks go. we want to see the vix stabilize, interest rates stabilize, and we want to see the dollar stabilize. if those three things continue to move in the direction they are now, then one should expect more headwinds moving forward, and that will be a good buying opportunity. but right now we took some
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profit, and we're going to wait and see what happens. stuart: okay. when these three factors come into alignment for you, tell me exactly what you're going to buy, and you be specific, please? >> absolutely. so we did not actually trim our energy position. so xle is a holding we have for clients. we definitely want to add to weakness on there -- weakness on there. i think whether the fed cuts rates or not, energy wins. and nvidia with is one name that we own for clients. we actually didn't trim that, but we would look to add there because i think you'll see some weakness there if it broadens out. small caps, we sold 75% of our small cap holdings on that rally, and we will look but more patient there because there's a lot more volatility in that space. you want to stay away from interest-sensitive asset holdings right now, and you're going to want to stay in the growth areas when you go to buy this last leg are, this last dip here. stuart: i'm talking to a lot of people who are a little worried about the earnings reports that a we're going to get in the next two weeks from big tech. if any of them really slip, that
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would be very serious negative for the market. do you agree with that? >> absolutely. earnings will matter this earnings cycle, and this is why you have to be selective on where where you are. earnings are weak, they're going to get punished. unlike last year where it didn't matter, this year it will. and this is why we thought it was a great opportunity to raze some cash right now -- raise some cash. it's okay to sell because, again, we've had a big rally, and these dips, i think, should get bought. but right now staying cautious is very important. and with the middle east, if israel does go and retaliate, that's going to cause headline risks that could cause things to go down as well. that coupled with those three factors i shared, it supports this cautious stance right now. stuart: god it -- got it. ed i think gabor, thank you very much, indeed. you've seen the dow go request up significantly right before the end ogg of the -- opening of the market. we're looking at a gain of about 120 points. this is now, bang, 9:30. press the button, the market is
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open, and the dow is up 178 points. it's the gone up a bit more. buying right before the opening bell there. and the vast majority of the dow 30 are in the green, significantly show. i've just got 4 losers on the block there, that's all you got. four losers. now, the s&p 500, that has also a opened a little bit higher, .4%. the nasdaq composite, that's opened niecely higher, up .if 43%. -- .43%. show me big tech, they're all on the upside today. microsoft, 417. alphabet's up. amazon, meta, apple, they're all up. apple, though, still just below $170 a share. meta just over $500. microsoft made a big investment in an ab abu dhabi-based a.i. company. what's the significance of that? lauren: china. yeah. so as the uae diversifies its economy away from oil and to a.i., it really needs to pick a side. china, where they sell oil, or
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the u.s. it picked the u.s. microsoft is making $1.5 billion investment in one of their companies, it's called g42, with a political condition that g42 stops using huawei equipment. the u.s. does not want china to have access to our high-end technology. and with this deal, microsoft's azure powers g42's a.i. development free of influence from china. stuart: market likes it. microsoft is up nearly $3 -- lauren: gina raimondo at commerce likes it too. stuart: they're going to vote on musk's pay package. do they want to reinstate it? lauren: they do. and they want to reincorporate tesla from delaware to texas. just to put this story very simply to you, shareholders like e ron musk, and texas likes elon musk. they kind of go together. that a pay package, by the way, that that's been disputed in delaware is now worth just $40 billion because of the decline in tesla shares.
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they're dead flat at 157 right now, and they're at a 1-year low. the chair of the tesla board says musk has not been paid for decision years, and he deserves it. shareholders in june will vote on whether to move tesla's incorporation from delaware to texas. and also, you know, to reinstate that pay package for him. two quick side notes, cathie wood is a bull, she bought 21,000 additional he's that shares. and you have the next -- additional shares, and you have the next catalyst tuesday, earnings. stuart: the stock though 156, dead flat as we speak. lauren: because it's not a growth company anymore. sales are flat, demand is down. they're trying to pivot to the $25,000 car, and the robotaxi, today use the same platform, that that comes out of austin. very convenient for texas. the problem is byd ate elon musk's lunch because they already make a $25,000 ev. so that's what investors are responding to. stuart: let's talk about apple. tim cook, he's in indonesia.
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lauren: yep. he just went to vietnam, and now he's meeting with the president of indonesia to think about building a manufacturing plant there. if diversify out of china. apple has been building its presence in indonesia for five or six years now. they have these training centers, and they are building a fourth one in bali, and maybe we'll see a factory there. stuart: i've often said that i'd never invest in an airline. lauren: okay. stuart: and i won't invest in an airline even though united is doing particularly well. they reported, what was it, after the bell yesterday. lauren: 7% pop. stuart: how good was the report? lauren: they are betting on spring beak and summer travel. so, yes, united sees better times ahead. but first, they have to deal with a major headache, and that is boeing. boeing's plane production is capped while authorities invest if its quality. united was forced to cut its deliveries of jets by boeing by 25% this year. so now it's actually leasing from or arch rival airbus to fill the gap.
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the boeing whistleblower, the one who said that the 787 dreamliner that he worked as an engineer on could fall apart midair is testifying on capitol hill today. he said based on what he knows and what he i saw, or he would not fly the his family on that plane. stuart: that's inflammatory. lauren: yes. stuart: in congress today. and the stock of boeing is below 170. that's quite a comedown -- lauren: and boeing refutes those claims. they say it is safe. stuart: take two, video game maker. cutting jobs. market likes it. how many? lauren: 600 jobs at 5%, they need to keep cutting costs. their blockbuster, grand theft auto, the newest installment reportedly delayed. stuart: eli lilly, their weight loss drug, is it showing promise for sleep apnea treatment? lauren: this is huge. it would be the first pharmaceutical treatment for sleep apnea which 40 million americans suffer from. eli lilly released the result of
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two hate stage trials -- late stage trials in cults with sleep apnea, and the drugs reduced the we havety -- severity by 63%. companies like resmed that make sleep apnea machines, they're all down because this news from sepp bound is so good. stuart: how about travelers? insurance people, or obviously. they dropped 7. %. what's the problem? some. lauren: revenue from all three of their units came in below with estimates. catastrophe losses are widening. you had wind storms, you had hailstorms where i live with the hail, basically every other house on my block got a new roof because of the hailstorms. stuart: really? lauren: uh-huh. we tried to get our gutters fixed through insurance, and they said no. but our neighbors got a roof. >> did enough i damage? lauren: yes. >> that's the first requirement.
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[laughter] lauren: even when i went up the ladder and pulled it off? stuart: there must be damage before you can get an insurance claim. the big board looking good this morning. you're up 128 points right now, that is about one-third of 1%, 37,900. are there any dow winners? yes, there are. unitedhealth up again. big gain yesterday too. goldman, nike, walmart, microsoft all on the list of winners on the dow. s&p 500, united airlines, american airlines, unitedhealth, moog inc. and nasdaq winners, quite a few of them. top of the list, moog. is that the synthesize sheer people in. lauren: i'm looking it up. stuart what do they to? warner brother, charter communications, on semi and illumina. you always have to check the yield on the 10-year treasury because that kind of dictates the path that stocks will take. yield now, 4.62%, down 4 basis points. the yield is down. the price of gold, haven't checked that yet today, we're doing it now. above $2,400 an ounce, 2407.
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i have bitcoin. last time we checked it was 63, or now it's 62,6. oil, last time we checked it was mid 80s, it still is, $84.46. nat gas still below $2, and the average a price for a gallon of regular, that's gone up 2 cents overnight to $3.66. keeps creeping higher. diesel up 1 cent at $4.05. coming un, senator josh lawly, he went after energy -- hawley, he went after the energy secretary for pumping up stocks that she owned while in office. watch this. >> why did you mislead us and what were you hiding? you promoted pro terra stock and proterra product ifs as energy secretary. was that one of the stocks that you sold? >> this is so -- i mean, really -- >> was that one of the stocks you sold? >> no, no. stuart: a little conflict right there. how come congress has not passed a stock-trading ban for members of congress despite the promise years ago? we're going to get into that story. governor gash newsom,
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california, asked about voter concerns over biden's age, newsom said biden should start the taking pref general, the memory-boosting medication. we've got a report on that. manhattan d.a. alvin bragg threatened trump with 30 days of 'jail time for alleged gag order violations. will the judge really put trump in jail? really? that's next. ♪ ♪ and when i got there, they have the sushi- this is clem. like sushi classy- clem's not a morning person. i'm tasting it-
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or a night person. or a... people person. but he is an “i can solve this in 4 different ways” person. and that person... is impossible to replace. you need clem. clem needs benefits. work with principal so we can help you help clem with a retirement and benefits plan that's right for him. i'm short but i'm... i'm confident. you know? let our expertise round out yours.
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stuart: new york t. alvin bragg wants to hold trump in contempt for allegedly violating a gag order. bragg threatened trump with up to 30 days this in jail. carrie, are can you see a judge putting this former president in
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jail, and 40 how do you think the country would react if they did? >> normally, i would say, of course not. but given the way that things have gone for donald trump in new york with the that justice system, you saw it with leticia letitia james and now in this case, nothing would surprise me anymore, stuart. but how the country would react? terribly. it would be so foolish for the judge to make good on that threat. i think it would be political suicide even though a judge isn't supposed to be thinking politically. this whole process has been nothing but politics. it would be with completely unwise. i think it would tear up the cub. i is certainly -- the country. stuart: in your professional opinion though, i mean, you follow the legal industry, so to speak, you think trump has violated the gag order to the point where jail time is deserveed? >> well, this is where it gets very tricky. the gag order in and of itself i personally think is problem mat ec because it applies to him talking about the witnesses. okay, fine. and normally you apply gag orders because you're trying to prevent harm to a case that
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can't otherwise be undone. this judge says, okay, we're going to slap this gag order against trump because we don't want him talking about the withinses because i think it's going to taint the jury pool. but the problem, stuart, why wouldn't he do the same for michael cohen? michael cohen can do media interviews, can go and talk on tv without being under the penalty of perjury if which is very important in this case because he can say whatever he wants without consequence. and so donald trump's argument is i'm just trying to defend myself against someone who's a known liar who has died to the -- lied to the media, lied to the court, lied to congress, and yet there seems to be no consequence, and i can't say anything. stuart: it's just not fair. it doesn't have the appearance of fairness. >> correct. and that's -- yes. and, you know, i say this a lot, it's not the -- that judges care just about a decisions right which they all, of course, do. they are normally, and i know this from my time in the court of appeals in virginia, also very concerned about the appearance of impartiality. one thing that's troubled me a
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lot about this case specifically with this gag order is the one-sided nature of it. the gag order against trump but not against cohen who, again, can say whatever he wants and then trump can't defend himself publicly. that's a very frustrating situation for a defendant no matter if you're donald trump or anyone else. stuart: i wonder if you can handle this one for me, the supreme court is reviewing the use of an obstruction law that was used by federal prosecutors against those involved in january the 6th. will their decision, when it comes, affect any of trump's trials? >> it could. this is a very interesting case. if this case involves a law that was passed in the wake of enron, the enron scandal that a makes it a crime to obstruct the an official proceeding. now, typically that law has been used in cases involving evidence tampering. that's why it was passed after enron, because if you remember the document shredding that took place. but what the department of justice has done has expanded this, the understanding of the statute to apply and use against january 6th defendants saying
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that they were interfering in the certification of the election. and the justice, at least the conservative ones, seem skeptical because can can this law be usesed as a catch-all?? -- used as a catch-all? what a does it mean to obstruct, and and what is an official meeting? if their intent was to block people from, say, getting to a court for a trialing could they be with slapped with this law? so it's an interesting argument. and the reason it would have an impact on donald trump is because this is one of the key charges that jack smith has brought against hem in the januaryth case and really the most serious one. stuart: this is fascinating. carrie, you know what we're talking about, and we appreciate that. come back and see us again toon. -- soon. todd piro, will the supreme court decision have an affect is trials? >> i concur with everything -- a legal word, stu -- that carrie said. i would just add one thing for the viewers of this show.
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you've covered many as as aspects of sarbanes-oxley, correct? it's a business law, right? stuart: yep. >> this is under or star -- sarbanes ox toly. jack smith is trying to say trump and all of januaryth9 is somehow under -- january 6th is somehow under the ambit of star gains ox -- sarbanes-oxley. it doesn't make any sense to the six conservative justices on the supreme court who read sarbanes-oxley as a financial law. and jack smith's to contortion of it, much like alvin bragg's con dogger of the laws -- contortion of the laws here in new york, is all an attempt to get trump. i see it being -- i don't see is trump being charged under this, but there are two more aspects of this case that smith can charge on. stuartout okay. it does not have the appearance of fairness. >> it's not fair at all. stuart: not fair, that's what it looks like. thank, todd. coming up, you need copper for the green revolution. it's used to make ev batteries, wind turbines, power lines.
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there's a huge copper deposit in alaska, but biden says, no, it cannot be touched. you can't even build a road to get to it. this is entirely political. biden wants to polish his green credentials in an election year. that's my take, top of of the hour. look at this, google employees stormed offices across the country protesting the company's work with israel's government. watch this. >> google, google, you can't hide -- >> google, google, you can't hide -- >> you are funding genocide. >> you are funding genocide! [laughter] stuart: liz peek's fired up about this as are we all. you'll hear from her at the so much the hour. ♪ ♪ -- at the top of the hour. ♪ if. ♪
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stuart: show me tesla this morning, please. it's down 37% this year and right now trending at 155 per share. garrett nelson is with me, this is he is a tesla analyst. is he's a buying opportunity at $155 right now? >> yeah, tanks for having me. we think so concern thanks for
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having me. we really think the stock the's risk-reward profile is much for favorable at these levels. remember, tesla shares more than doubled last year. we argue the sock was overdue for a correction -- the stock was overdue for a correction. now you've got this pretty steep correction so far in 2024, and we argue that the various challenges that tesla faces are now very well understood by investors. they're had gross margin contraction, you have overall ev market oversaturation, you've had some production issues with the cyber truck and then the you have questions surrounding its next-gen ev model and when that might be rolled out. tease issues are well understood by investors, but no question they're the hit a speed bump recently. and takes are -- stakes are very high heading into tuesday. stuart: what kind of price target do you have by the end of this calendar year? >> our 12-month price target is $220. that's based on 55 times our
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2025 epss -- of $4. stuart: quick question, tesla shareholders are going to vote on the move to texas and musk's pay panel. is that good or -- package. is that good or bad for the stock, garrett? >> we think it's good. texas is a more favorable egg rah story environment -- regulatory environment for tesla, and we think, you know, elon musk's pay package has been another, just another overhang on the stock. so we think, you know, one way or another that issue will be behind them, and, you know, or we expect that it will be approved. stuart: garrett nelson, 220 on tesla by the end of this year. garrett, thanks for joining us this morning. we appreciate it. thank you very much. space, and, they're -- spacex, they're thinking about cracking down on unauthorized users of their high-speed internet service, starlink. big problem here? >> yeah, big problem if you're musk, also for safety the
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reasons, geopolitical reasons. all part of elon musk trying to close this expanding black market. customers in sudan, zimbabwe, south africa received e-mail notifications saying there access talk about determine nateed because it's against the -- terminated. here's where the rubber hits the road. the notifications were sent just days after "the wall street journal" published an invest if showing users including russian military units in ukraine and a brutal militia in sudan were bypassing these regulations. being useed for bad. tawrt institute so musk doing something about it. todd, thanks for being with us. >> pleasure. stuart: still ahead, former acting attorney general matthew whitaker, former education secretary betsy devos and bill hemmer, fox news. the 10:00 hour is next. if. ♪ one more time. ♪ got me feeling so free, we're gonna celebrate. ♪ celebrate and dancing free. ♪ one more time ♪
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