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tv   Varney Company  FOX Business  May 20, 2024 11:00am-12:00pm EDT

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ity. (jen) that's enterprise intelligence. (vo) it's your vision, it's your verizon. sara federico: at st. jude, we don't care who cures cancer. we just need to advance the cure. it's a bold initiative to try and bump cure rates all around the world, but we should. it is our commitment. we need to do this. >> it maybes to sense, whenever he's arguing with his own
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foreign policy at this point, i think people see through it. market performs despite him not because of him. if they do test them, think should test for hallucinogenics. >> we actually cut the head off the snake and financing of terrorism, which is iran and address the fact they're working to utilize their proxies for the middle east. >> if you tax something, there's lots of it. >> if you're going to put a massive tax on investment, there's a lot less of it. >> look at biden is you're the guy in charge right now. he's sort of acting as if he's in this role and has no control or power to do anything. stuart: i was waiting for the music. sound of silence. let's get on with it. 11:00 eastern time, monday,
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may 20th. markets are in the green, especially the nasdaq, which is up just over 100 points. 50 point gain for the dow, which is just reached another all time high. inter-day all time high and big tech same story and meta is the only loser down just a buck and all the rest on the upside and microsoft up nearly 1%. 10-year treasury yield way below 4.5% level and at 4.44% and investors like that and now this. iran foreign minister and president are dead. killed in a helicopter crash and the country is in turmoil and divided and vulnerable. there'll be endless discussion of who ryan higgins what did this and israelis said they had no part in it but the point is the principle troublemaker in the mideast is in itself in trouble. raisi, the president, was wildly unpopular and team to power in a low turnout election and led the
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crackdown on domestic dissent. thousands executed. women killed and imprisoned for not covering their hair. the iranians are having trouble with their own people. there's been several internal terror attacks and they also have a military problem and attacks israel in april with drones, rockets and cruise missiles but the vast majority were shot down or failed to launch. embarrassing. they couldn't tell where raisi's helicopter went down and needed help from turkey. embarrassing. iran has a economy problem. sanctions and corruption left widespread poverty and a culture problem as well. the version of the islamic republic is harsh and unpopular with young people and iran has a lot of young people. 60% of the population is under 30. add it all up and that helicopter crash reveals the extent of the problems and it's vulnerability and gives president biden leverage and
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principle opponent in what they start and run into trouble and have opportunity and advantage. use it. third hour of varney starts now. stuart: board member bill mcgurn. bill, iran is vulnerable and that's my problem and they're as a rule -- vulnerable. >> they're all the way through and i think he feels he can manage it and he doesn't want to be vocal and they're provoking us and rat muching up slowly. raching up slowly. stuart: should he take advantage? >> yes, he should. we're drawing on the domestic front and cut off the money going to them and keeping the
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ragaini seem going and -- regime going and making it dangerous and enforcing the sanctions and begging theming or -- them or has been begging them for rejoining the nuclear compact and it's sailed and they're an enemy of us and they launch an unprecedented attack on israel and getting more danger yous and not less -- dangerous and not less. stuart: what should we do? >> well, i think we should -- first of all, we should cut off the flow of money. enforce the sanctions that we had and we should support our allies in the region and primarily israel and go after the proxies and so forth and i think we'll have a confrontation with iran itself. you know, trump killed a general i can't see joe biden ever making that call.
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stuart: roll tape. >> i'll demand a drug test by the way. i am, i really am. he was high as a kite. i don't want him coming in. is that joe up there? by the end of the evening, he's like, well, it was exhausting. we're going to demand a drug test and they're going to be fine and fair. they'll be fair and if not, you have to deal with it; right? stuart: okay. the white house says biden was confident last time this was in the state of the union message and not drugged. what do you think? think biden would ever accept a drug test? >> no, a president is never going to accept that and donald trump will debate him anyway because debates help him.
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he's laying to the ground work like he's putting joe biden on defensive so even -- it's like trial and he knows he has very little legal chance inside the courtroom but he's build ago picture of the trial's unfair and stacked against him. i think a lot of people have been persuaded by that and he's casting doubt on joe biden hasn't been totally candidate about his health records and there won't ever be a real test. stuart: i'm not surprised. bill mcgurn, wall street journal guy, see you soon. >> thanks, stuart. stuart: pay attention to the green and the dow is another intraday high and the nasdaq is up 100 points and right at 16,800. jason katz joining me this morning. does that 40,000, round number, in itself have any significance
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at all? >> it always implies this great degree of importance. >> i wouldn't be surprised if there's a garden variety pullback and implore investors to remain long and the fed's base is definitively towards easing and the economic data supports the view that economic soft landing here in the u.s. is very much on the table. stuart: so are rate hikes, very idea of a rate hike, that's dead; is it? completely? >> killed off. may it rest it peace. i don't think you're going to see any rate hikes but by the same token, you're not going to see any rate cuts either, the
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cpi number takes hikes off the calculus but at the same time the fed target of 2% is not quite there. doesn't want to tip us into a recession and answering your question, rate hikes off the table. stuart: this looks like a strong rally and ain't over. what say you? >> yeah, this is a good old exuberance around ai and earnings that result from it and productivity that will result from it. stuart: heaven forbid nvidia disappoints on monday afternoon. >> i was talking to a client that's a coo of mayor public company and said you see meta and other companies and their
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spend and so much money and ai that you're going to see a really robin lou bust number and some reasons that number isn't great and other companies in the ai space taking that shift. taxpayers recycling of the profit growth. so it's just moving money from your left and right pocket and all of which add to product and i have the earnings growth. we're seeing a rally. stuart: it is a rally. thank you, jason. see you soon. lauren is looking at the movers and not sure whether apple is moving much and worth looking at 191. lauren: up almost 1% and making a play for market share in china reports of progressive price cutting and iphone going down as much as $320 and second price cut in china to reduce sales because they're facing local home grown competition. lauren: it's up over 4% and pat tent office held the validity of
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a covid patent and moderna in a legal battle for years and pfizer and germany's buy in tech and the technology behind the shots and a win for moderna. stuart: the stock is up over 4%. lee auto. lauren: way down. stuart: ev from china. lauren: down 30% this yore and bad earning ands guidance and delivered 80,000 vehicles in the quaquarter and up 53 precious fm a year ago but down 40% from the prior quarter. ev sales even in china are slowing substantially. stuart: can't sell them because of sanctions from the president. coming up, rfk jr. is qualified to be in the upcoming presidential debates. >> we have shown cnn that we meet all the criteria and president trump and president biden cannot meet those and if i qualify for the debates and they have now. stuart: we'll bring you the full
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comment as little later in the show. boy scouts were preparing -- re-branding for scouting america and being more inclusive and ditching the organization for faith-based groups. we've got the story for you. border patrol have terrorists and killer haves been able to easily cross our border because they're being pushed through the processing process. nicely put, stuart. chris describes the process turnover margins next. (fisher investments) at fisher investments we may look like other money managers, but we're different. (other money manager) you can't be that different. (fisher investments) we are. we have a team of specialists not only in investing, but also also in financial and estate planning and more. (other money manager) your clients rely on you for all that? (fisher investments) yes. and as a fiduciary, we always put their interests first. (other money manager) but you still sell commission -based products, right? (fisher investments) no. we have a simple management fee structured
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stuart: a stand alone issue. what does that mean and will it pass? >> they need 60 days to crack a fill buster and only a few republicans voted in favor of voting in february and james language sterling heights was the gop architect of the bill. >> this is a serious issue we need to address. my own party has said this was not the time to be able to do that. back you were again and say let's do a political thing on the other side of the aisle. >> trying to bring up the bill again is all about politics and chuck schumer aims to portray republicans as obstructionists on border security before the election and schumer wants to i knock late vulnerable --
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inoculate vulnerable democrats on politics as well. >> americans don't want to just talk talk talk on the border. they want actions. they want bipartisanship and americans want to pass the border security bill like the one we released just three months ago. that said, schumer hopes his move might jump start talks on aborter security and underscores that democrats want to do something on border security and republicans say this is a fig leaf. >> this is nothing more than political cover for democrats and tough directs -- districts and this is schumer protecting democrats and we're for closing the border. >> the gambit by schumer could backfire on democrats and president biden and maneuver refocuses attention on the boarder and gives republican a opportunity to talk about ad ministration's failure to secure the border. stuart.
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stuart: understood, chad, thank you indeed. border patrol agents revealed how easily terrorists and killers get into the u.s. and because they're being rushed through the migrant process. former border patrol chief of the yuma sector chris lemore joining me now. what is the process, describe how it's being rushed. >> yeah, good morning. well, they have about 72 hours from the time they make an arrest to the time they complete prosing to be placed and out of their custody and dealing with thousands and thousands of arrest as day, it becomes a factory. you just have to get people in and out as quickly as possible, out of custody and these are the regulations and policies and it kind of just leading in, this is the problem with the senate bill and it's about migrant facilitation and not securing the boarder and stop people from making it to the boarder and
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coming in illegally and we can make america safe and secure the border. they are taking people into custody and obligation and expectation to get them out of custody quickly. stuart: only have 712 hours at the moment that apprehended the border, that's not giving him time to vet anybody, does it? >> no, it doesn't. that's the big problem. >> we're asking questions outrebounded only matched up against a system that is, has data in it and we have people from countries we don't have a relationship with. we're not going to know who they are other than the information they provide us at time of arrest. that's the problem when we hear they're being vetted. they're to the being vetted. if they're not in our system or an interpoll match, take their word and begin with the numbers and how quickly they get released. stuart: we have 8-10 million
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people in the country and immigration has been rushed through and they're here. 8-10 million and trump says we're going to deport them. marco rubio says he fully supports a mass deportation of illegal migrants. is it really possible to deport 8-10 million people at a cost o? >> well, i think the short answer is yes, it's possible. the reality is you're going to really have to narrow that scope. first and foremost, anybody with a final order of removal, someone that's been deported but never left, we can go after them. folks that have been paroled in under this administration and that'sed and we can go after them. if they've been processed to release and appear they have a right to due process and there's a good chunk of immigrant population we can't touch till their hearing and it'll be done but thought out and strategic
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and offer voluntary departures and put them on notice and leave now or we're coming after you. it'll take a lot of planning and logistics. stuart: susan: thank you for joining us and important subject. appreciate your expertise. see us again soon. >> thank you. stuart: yes, sir. republicans want to block noncitizens from voting in local elections in washington dc. ashley, the democrats cannot be happy about this. ashley: no, they are not. house democrat leaders urging their members to vote against the republican bill. according to a memo obtained by axios and quote 16 other jurisdictions that enacted allowing noncitizen voting and all house democrats voted in the past in support of dc's right
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for self-governance and state hood and noncitizen voting is patently wrong. >> we have approximately 500 noncitizens registered to vote in the nation's capitol and what the democrats want to do is use washington dc as pete reigns leading dish to roll out noncitizen voting in the united states. ashley: a vote on the republican bill slated for wednesday or thursday this week and will mark the second time that house republicans have tried to overturn noncitizen voting in dc. last february the house voted to overturn the ordnance but the measure never taken up in the senate. remarkable, tua. stuart: thanks, ash. check the biggest winners on the nasdaq and hit all time high. here's your list and biggest winner is look at yield on
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two-year treasury and coming in at 4.48% and way below the 5% level and difficult for investors to get over. 484 as we speak. mosquitoes swarming towns in texas and climate change is to blame. donald trump hosting a rally in the bronx on thursday and making a play to win over voters in the city, new york city. is there a chance of winning the deep blue state? ask lifelong new yorker jon levine next. ♪
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your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire stuart: two hour was business and i see green. nasdaq up 170 points in the paints and inter-day high and 4,000 and 70. stop stocks are moving like tesla on the downside to tune of 1.6%. lauren: they're reporting
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lauren: it's tanking resale on the cars and some of the companies are reportedly talking to chinese ev makers and plenty of vehicles that offer the tough clean car quotas. stuart: get into europe but not here. nvidia. lauren: latest bell and earnings and expectations are for around $24 billion in revenue and hearing it's $26 billion or bust. eps and sales and expected to rise 200-400%. how long can they keep that momentum going? stuart: tell me more, ashley. ashley: yeah, absolutely. he says joe biden is donald
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trump and told maria on sunday morning features. >> we have shown cnn that we immediate all the criteria and at president trump and president biden cannot meet those criteria and we have made a public offer and we consider that a contract and discussion with that. ashley: balance in states to get 270 electoral votes by june 20td second the candidates must reach 15% and four separate national polls and the candidate achieved
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and rfk jr. team is holding discussions with the network. stuart: trump hold ago rally in south bronx new york city this thursday and first new york rally since 2016. jon levine joins us and lifeline new yorker and will he -- shaking his head. >> madness. stuart: no it's not, it's great. will you improve your standing to black voters of the belly of the beast in the bronx. >> the polls are incredit card and will winning hispanic voters and 20-30% among black voters and the problem is, stuart, i don't know they believe the polls and certainly president biden doesn't believe the polls and he's then going extreme. democrat biden spending campaign machine cranking up into high
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gear and i think when that happens and it's much more likely we'll see traditional levels of support. stuart: he's doing the right thing. he doesn't feel a need to win new york and he was considering it in the bag. it's historically a safe assumption. stuart: forget new york city and predicting out to new york state. could trump win that? when i travel outside the manhattan area, it's trump everywhere. >> trump could win every part of new york state except the city and lose new york state by a double margin. >> the portion of the black vote in new york city and surrounding areas like long island and would win. >> hate to take the punch bowl away and if they sense -- in new york, you can vote for like a month and if they sense any sign
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of trouble, i know the democrats is buss and going up to homeless shelters and getting the bus and you know what to do, a ham sandwich. in the past, there's waves. how did they get hochul over the finish line? stuart: this is a very big deal. washington post editorial board come out against diversity, equity and inclusion on college campuses and dei statements have led to schools -- too often led to self-censorship and that's an editorial board. >> washington post on the right side of history. never thought i'd see the day. here we are. think about where we were in 2020 when we just had mobs of blm rioters all over the country burning and destroying stuff, mostly peaceful, of course, this is fine and normal. you need to celebrate this. there's been a real change in american public season and you're seeing this on college
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campuses and i should clarify, and we're seeing the beginnings of chipping away of architecture of this stuff and dei is evil business, it's really essentially racist because dressed up as something mobile. stuart: editorial board of stays you've got to make to get into the area. >> they rightly point out and sounds very nice, diversity statement, you're commit toddy versety and serves to limit of the diversity on campus and make sure faculty is with the program and any faculty with a wrong think idea not given tenure or offered a job at the institution. washington post points out it limits it on campus. stuart: it's a good start to chip away at dei. starting somewhere. >> berlin wall comes down one brick at a time.
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stuart: thank you, john. this is interesting. the portal lets new yorkers see dublin, ireland, in realtime. it's reopened. i'm not familiar with this and explain to me. why was it shut down to begin with? ashley: well, you're right. it was contained in a sculpture and supposed to be lively between new york and dublin and enabling people to see each other and creating a sense of join connectedness and instead the portal had to be shut down to deter deviate and disturbing behavior to answer your question, stu. from the irish side people gotten up close to the camera and holding up phones with the 9/11 attacks and while in new york, women flashed their breasts on the live stream. seems like irish got better of
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the deal and both screens have been blurred now to obstruct the camera and new york sculpture with on side security and more fencing and signage in place and streaming 24 hour as day and exhibit operating live from 6:0. seems like a good idea. kind of interesting. stuart: quite right, ashley. quite right. moral high ground. very well done. ashley: i am indeed. stuart: you are. the kicker for the kansas city chiefs gave a commencement speech that focused on catholic space and media is attacking him vigorously. resident theologian non-than morris responds to the attacks. a woman in texas hired a repairman she found on tiktok and he game a squatter. we have the story next.
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stuart: homeowner in texas hired a repairman off tiktok and he turned out to be a squatter. terry joins me now. take me through what happened. you got the repairman from tiktok then what? >> well, i actually got him from thumb tack. there was a lot of confusion in my senate testimony because there was a lot there. i hired him to come in and do work for me. he did a fantastic job and i hired him back over several months. i told him, hey, i'm going home to pack up my mom and bring her back with me. she was ill. while i was gone, he broke into the house and made himself at home as well as multiple other friends who then turned it into
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basically a drug den and he sold all of my large appliances online and everything else in a garage sale he had. stuart: where are you living now? >> i'm actually staying with my mother in florida. i'm working with insurance for arrangements to be able to stay close to the home so that we can start repairs on it. stuart: was it recked, the home? >> oh, yes. completely destroyed. there's well over $150,000 worth of damages and losses to the home. stuart: did you try getting hip out using the police or anything else? >> i did. i contacted the police and i was told that this was a civil matter. they don't get involved in evictions and i said well, he's not a tenant. he was never a tenant. they said yeah, that's a civil matter. he's been there -- they asked how long he's been there and i said well i've been out of town for about two weeks and they said that's a civil matter.
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i had a friend go over and try to talk to him and get him to leave. i reached out to his ex-wife and they had just separated to see if she could get him to leave. i attempted to do my own eviction but the challenge in texas is there's no place for squatter eviction. they only allow you to submit a court case if you have a tenant or -- either oral or written agreement. i didn't know how to work around that and had to hire an attorney to do the eviction and that took about seven months. stuart: as of now -- >> it didn't help that ---stuart: as of now, you're out of the house and the squatter is out of the house, the house is a mess, you've gone to live in florida and you probably can't get back into the house for some time and even then you'll be under water financially, big time? is that it? >> yep, that's bisically the sum of it, yes. stuart: terri, thank you for
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sharing your story with us. it's very important that people know what's going on in this country and you made that available to us. we appreciate that. wish you the very best. >> we absolutely do. thank you very much. stuart: we want an update at some point in the future. come back and see us. >> absolutely. absolutely, yes. stuart: you'll be back. then there's this, a wealthy neighborhood in texas voted to break away from the city of austin. tell me, ashley, what's going on here? ashley: i don't understand that previous story. they broke in and broke the law. he broke -- anyway. yeah, let me move onto this story. lost creek is a very rich neighborhood on the west side of austin. and it's fed up without a control crime that is blames on woke democrat politicians. earlier this month, 91% of residents voted to break away from the city saying they never wanted to be a part of austin when the city was annexed nine years ago but didn't have a choice. lost creek not alone, two other neighborhoods have voted to leave the city this month.
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residents say crime has surged since the major and city council slashed the police department's budget by a third and leaving metro area with a short fall of nearly 500 officers. homeowners have even resorted to hiring off duty cops to patrol their neighborhood. lost creek by the way will now get its police protection from the county sheriff for which they are already they paying taxes. that says it all, does it not? stuart: it does. when a mess. thanks, ash. a giant swarm of mosquitoes terrorizing a town in texas. i'll bet this is climate change. lauren: well, that's what some officials in the houston suburb of con row are saying. early spring weather, heavy rain, flooding, creating ideal breeding grounds for mosquitoes that look at it. exterminators in the area say the sampling levels are the same from 2022 and 2023. stuart: worst thing about scotts
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is when they're trying to get to sleep and there's a little buzzing. lauren: ever go to another country and sleep in a mosquito net? stuart: of course. lauren: doesn't really work. or maybe i'm so itchy i can't tell it's working. stuart: time for the dow 30, please. sense of the market. i sense there's more buying than selling. plenty of green out this. the dow is up 50. new intraday high. then there's this, pope francis says catholics in the united states holding conservative views on religion have "a suicidal attitude". what does resident theologian jonathan morris think about that? he's next. ♪
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and follow the plan, it works. stuart: pope francis said this about conservative people in america that oppose triadists. >> conservative is one that stands for something and did you want want so'beyond that. it is a suicidal attitude.
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stuart: suicidal attitude is a strong word. jonathan morris is with me. the pope said bishop that oppose blessing some same sex partnerships is suicidal attitude. that's a bit strong. >> what's worse than that, he came across and looked at text itself as if you're a conservative, that's a suicidal attitude. i don't know where his communications team is. not a good message. of course there's radical people on both sides inchewedding radical conservatives that would say any change is bad. i think that's what he's referring to. he's saying we have to be open minded and we have to think rationally and if you're not willing to do it, that's suicidal for the church. if you're not willing to engage in society, you'd died. i would agree but his messaging was very bad. stuart: overall within the
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church, is the pope's message being opposed to conservatism. is that popular? >> he's quite conservative if you line up what he's 100% against abortion. he's against gay marriage and you can go down the line on a lot of issues. he would be considered a conservative in america. i don't think he knows that or hasn't been told that and that's why the communication is so bad. stuart: in a commencement speech, harrison butker, kansasty chief -- made comments about women staying at home to take care of children and hospitals. traditional role for women. the media lambasting the man for that . what do you make of that? >> and the jersey sales have skyrocketed ever since he's been lambasted by the media here. now, what he actually said was pretty basic. he said to the women saying some want to be career women, very good for you. some will want to stay home and
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some will want to take care of their children, not work. good for you. he was saying anyone who would say that that is a bad thing is deceiving you. i thought it was a pretty basic speech. and whoopie goldberg, to her credit, i don't say that often, said this man was standing up for what he believes. let him speak. i love the fact that america has said stop. we're going to buy his jersey. it's capitalism at its best. stuart: think the pendulum is swinging? there was a time when young women were talking -- you've got to get out and fulfill yourself in a job, a profession, a career. is the pendulum swinging a bit against that now? >> what it's swinging against is radicalism on either side. i think that's wonderful. some women including my wife will be happier working outside the home and in the home. others prefer to stay home.
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both are very good options. as soon as you go radical and say this is bad and this is good. you're conservative or a liberal if you believe this. america says, nah. that's not good. that's not helpful. stuart: one last one, you've got to be short and to the point on this one, why do you think trump has stronger support among evangelicals than biden? >> because we know what he believes. he says it and you can trust, even if we don't like it, we can trust what he's saying. we have no idea when biden says something or hillary clinton says something or politicians on either side that are real poll eight hours cigses, we don't know what they believe. we know what president trump believes and people care about policy and action more than rhetoric. stuart: are the evangelicals okay with putting aside trump's personal life and behavior and going with what he believes and think he says? >> i think evangelicals would
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say we've seen what he's done so we can trust him on policy. in character and temporal integration tram and all those, we know what he's going to co. that's why they're saying we trust him to vote for him. lauren: it's not just evangelicals. new york times did interviews with voter who is voted for biden four years ago in six swing states they all said we do not like president trump's demeanor, but we're going to vote for him because we like what he does. stuart: thank you, jonathan. when was memorial day moved from may 30th to the last monday in may? 1868, 1919, 1947, 1971? the answer when we return.
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a test or approve a medication. we didn't have to worry about any of those things thanks to the donations. and our family is forever grateful because it's completely changed our lives.
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>> here's a question on monday morning but we asked why was memorial day move from may 30 to the last monday in may? ashley you are first. >> i don't have a clue. 1947 number three. >> johnson you were guessing and you can play too.
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>> as soon as people started not wanting to work on mondays so i would say that's a 1971. >> that's a good reason i must say. lauren. >> i think it was 1971 also. i don't have a reason. >> i think it's 1971 because i wasn't in america at that time but i came in 1972 but i have a memory it just happened formalized. it was 1971. three of us were correct. president lyndon johnson signed a holiday ads in 1960 moving memorial day to the last monday in may. the will to not take effect until 1971 so three of us were right. that's it for "varney & company." "cavuto: coast to coast" starts three, two, now. >> forget about down

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