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 40,000, are

you ready for dow 60? 60,000? i'm neil cavuto. we have the market strategies who sees that coming. you know that facing you know that name. he's here to tell us how soon is coming or why he think it's coming but first my buddy peter taubman from the nerx stock exchange and iconic gentleman and iconic venue. what do you make of that? he said after 40 hats get ready for 60,000. >> i think that's a little bit frothy at best. let's get to 40 and let see what's going to happen over the next couple of weeks and get clarity from the fed. 60 is a big way. >> i should posit here he is talking about 2030 now would be essentially a 50% climb or 10% annualized return. that's not too, is it? >> it's not.

i like to look at things more date and time a week at a time. 2030 what are you when i going to be doing in 2030? we will be on a beach somewhere in the caribbean with a logo and a cigar. >> you might be right about that. you can afford that. >> how about a red lobster? >> i will say all the salad you can eat and leave the shrimp alone. let me get your take on what brought us to where we are now and allotted the talking here is it's about the fed. it isn't about politics and it isn't about joe biden or donald trump. each like to take about for this but but this is something that reflects steady as she goes earnings and the consumer that might be weighed down the debt depending on who it is, still relatively a strong consumer. what do you make of that? >> the markets and the economy

don't always travel in the same lane. sometimes the economy obviously we have struggling going on amongst the consumer person a is the enthusiasm around the market, let's think of who is investing in the stock market right now. it's not some of the people who tend to be in the struggling cam. you have a lot of people, 40 million new retail investors in the market and all eyes are on the market. we have that amazing resurgence last week. it showed that retail investor is alive and well. there's a huge breath of people who are interested in putting money toward investing in their future. some younger people i think there's a big part of this is the new generation of retail investors coming in from the market that are buying it here. think about it we are record highs over and over again through. the market is telling us they are still enthusiasm somewhat

occasionally but there's plenty of enthusiasm. i think the fed's momentum, we have gone from 8.5% inflation down to three per that's a major movement been able to accomplish. that last little bit from three to two will be problematic but we see everything is pointing in the right direction. >> let me ask you every week and you telegraph it nicely for me brings us offense we should watch, retail numbers are important so when you get some of these target announcing they are cutting prices on 5000 items maybe it's a development to counter the inflation trend but the big number that everyone seems to be focused on today and videos earnings that believe after the bill on wednesday how important will india and its it's numbers btu? >> they are incredibly important. in february of $2,023,108 it is now trading in the midnight

hundreds and it got there over the last month. we saw little bit of a pullback. obviously this ai is a revolution and absolutely the trillions of dollars it's being put in to get that one of my friends dan and i is one of the great analysts in the state he and i have a new show called einstein in eiseman and we talk about tech and all eyes are on it. they've been hitting it out at the gate and think about that growth over the last year from 108 to 900. this are real numbers in real dollars coming into this sector. ai is here to stay in trillions of dollars are being put into it. he has told me it's going to be the jetsons at your house in my house within a couple of years. this is not 2030. we are talking the next couple of years we are going to see what it's bringing to us in a big way.

>> it's always great catching up with you. peter tuchman at the new york stock exchange and will market down on pencil. this is relatively a surprise here no real starting response to the death of iran's prime minister foreign minister in a weekend helicopter crash in iraq coupled with saudi arabia and -- being treated for heart in it -- irregularities. normally those developments are rattled the energy of marchment and that does not appear to be the case. their other developments we are watching as well. i'm not reveling the markets for rallying the region. we go to tel aviv. >> neil good afternoon i ranting and president ebrahim raisi is dead along with the country's foreign minister following a helicopter crash on sunday. rescue teams were able to make it to the crash site early this morning in the mountains of

northern iran. the search-and-rescue efforts were underway for more than 12 hours foggy and dark conditions may make the effort more challenging as dozens of crews become for us. images from the crash site showed the charred remains of a helicopter that was on its way back from azerbaijan. in response to the death of iran's present iranian leadership has declared a five day period of mourning across the country. allies like russia and turkey express condolences following the crash. according to the iranian constitution the vice president will assume the role as president until elections are held within 50 days. while the event is significant for the middle east it won't affect foreign or domestic policy. it is top of the government since the ayatollah khamenei. no foul play or actors are suspected to be involved in this crash over the weekend and comes with the backdrop of rising regional tension.

>> do we know anything about mohammad ottmar who will be the interim president? any knowledge at all? >> he's quite a conservative hardliner. the big question here is who will come after iran's ayatollah largely ebrahim raisi was to follow his footsteps now that he's dead there will be a race because ayatollah's 85 years old in it like to have a person in line ready to go meet does pass. >> a lot at stake. be safe. in tel aviv on that. dan hoffman chief in moscow "fox news" contributor. in these developments i mentioned no real reaction or fear in the energy markets there. that could be a surprise maybe they don't see it as a significant development that what about you? >> yeah i think the markets reflect the fact that no one

expects anything but business as usual from iran as. noted. the ayatollah runs iran's policy, domestic policy repressing its people and its acts of resistance according to terrorist groups like hamas and houthis and strategic alliance with russia china north korea. no one expects any of those things to change and moreover iran is continuing to pump out oil and we are not stopping that so that's why we are seeing the markets reacting the way that they are. this meeting between vladimir putin and xi jinping in china and the fact that they are getting cozier and announcing more agreements with each other obviously china has bankrolled a good deal of the war effort in ukraine. i assume that's going to continue and the fact can be said that wars turning in russia's favor. how do you see all of that?

>> i think vladimir putin arrived in beijing with hat in hand. russia desperately needs china. they need; kherson may need to be able to export their hydrocarbons to china to support their economy and most of russia's consumer items arriving from china. that's aware sing and i think china is uncomfortable with russia's modus operandi where they launched this destructive wars not just in ukraine in this case historically in syria and chechnya and georgia whereas china operates with more gray zone tactics. they would like for countries to realize there's no point in putting up a fight and allow china to militarize itself in the china sea and use their gray zone tactics to make it clear that taiwan can't retain their independence. there's a bit of a difference there and russia is cozier with north korea and kim jong and is,

his bellicose rhetoric and his ballistic missile tests are concerning china, less so with russia. vladimir putin will open the aperture and support all those countries including iran but of necessity for russia to receive with north korea iran and china provide towards this war was launched on ukraine. >> dan hoffman and the markets doing their best to keep this polish tone going. danny who sees sees that any few years getting up to 60,000. he brings down the members and why it's going that way. it's not such a herculean leave. in the meantime following developments in the trial that continues and testimony we are getting from michael cohen and relevé says that he stole from his former boss and not just once for the few times. we will get into that donald trump is looking at this week,

this week to do another unusual campaign in the bronx, in the south bronx. what is he up to? that's next

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>> another day on the stand another surprise for those listening to michael cohen the fixer for donald j. trump. cohen conceding today that he did indeed steal from his boss and it's the details that might shatter the prosecution case or least dinging the credibility of the guy who is supposed to be the star witness. eric shawn is at the state supreme court with the latest. eric, what happened to? >> hello neil. it turns out he not only that he stole money from his and toyer former president donald trump. michael cohen exposed as a thief during cross-examination. >> this case should be dismissed. should have never been brought. he's a corrupt judge. he's highly conflicted. he's totally corrupt.

he's interfering with an election. trump trump's former lawyer michael cohen fishing damage in the cross-examination. todd blanche listening to more ignitions about cohen's credibility they guess he stole money from the trump organization for testimony showed trump a cohen back for spending money to rig an on line poll that favorite was endorsed $50,000 by the top organization but it turns out he only paid the polling company that conducted the poll 20,000 pocketed and pocketed the rest keeping 30 grand for himself. when blanche asked him if he about that again cohen answered yes. president trump's lawyers want to call bradley smith as their defense witness. he's a former chairman of the federal election commission. he said the payments from stormy daniels should not count as campaign contributions. his testimony would under cutest -- undercut a key claim.

the prosecution of carolina senator john edwards you may remember it was a similar charges spending hush money and giving it to a mistress but his trial ended in an acquittal and mr. edwards got off. we don't know if the former president will testify in his own defense that a large group of anti-trump protesters did show up and they converged on the courthouse. [chanting] those protesters tried to drown out some trump supporters having a news conference right across from the courthouse. that was a pretty loud and difficult news conference that occurred. as far as the rest of the trial this is the end of the prosecution's case. then it will be the defense. the judges said he expects closing arguments next tuesday so that's when the jury will likely get it.

>> eric shawn thank you. the criminal defense attorney former prosecutor professor cornell university law school. randy let me ask you if you were donald trump's lawyer would you want him to testify? c no. in fact i've wouldn't call any defense witnesses but there's an old saying in boxing when you are ahead on points stay away. you be going for the knockout and you yourself could get knocked out and former president since so far ahead on points. there's no reason for him to take unnecessary risks that would call brad smith. i wouldn't give the prosecution of free examination or the fec chairman and i certainly wouldn't put the former president on to be cross-examined. michael cohen did everything that the defense we tend to do which is to establish he had the wherewithal and the ability and the brains to do things on his

own. as the fixer he would need the former president blessing and demonstrated by stealing, not that he's a thief but he was able to do things without trump knowing and that's all the defense needs to do to get an acquittal. >> isn't he going to turn that around or try to present himself in a better light? stealing money owed me he was dragging his feet donald trump at getting it back to me. that's what he will argue and i'm just wondering what jurors will think of that. >> remember all his trial is, it is two people disagreeing over something that happened historically and it comes down to whose story is more credible. the only credible story that the former president needs to put out there is simply michael cohen was my fixer. i hired people to take care of my problems. i wasn't interested in knowing what they did and i wasn't interested in knowing how they

did. in particular michael cohen someone who wanted to be like my extra son, he wanted to be my chief of staff and he certainly would have been the one to say look what i did for you, look what i did for you and look how i did this. please give me something in return and the fact that he was able to steal 30 grand again does not make him a thief and a, it shows the jury he was capable of getting over and doing things without other people knowing. that's the key to the defense in this case. >> i'm surprised and i'm not a lawyer but i told you in the past i've watched enough legal shows to qualify but the one thing that amazes me is michael cohen would even be talking to the media over the weekend which is apparently admitted to doing this past week. >> some people nail and you know this as well as anyone, some people simply can't help themselves. some people are wired to be come, the old story of the scorpion and the frog where the

frog jumps on the scorpion jumps on the frog back and says you are not going to sting me as the frog goes to the scorpion and the scorpion is why would i do that? we would both die. halfway across the pond the scorpion stings the frog and says hey i am the scorpion. michael cohen can't simply help himself. >> there is an interesting comment by ethan greenberg over the weekend about this idea of the defense and may be the judge agreeing to the terms of what will be brought to the jury whether it's counted as a misdemeanor charge and not the focus on the felony charges. it gets kind of in the weeds here but what chance does that have to reposition this case that you present to the jury? >> it would be very interesting if the rigged corrupt judge entertained a defense motion because what will happen is when

the people rest the defense would get up and say your honor we make a motion to dismiss the indictment on all charges. they are simply not enough evidence for this case to go to the jury. no reasonable jury would convict based upon this evidence. the judge will in fact hear and determine that motion. imagine if the judge dismissed all the felony charges for leaving all the misdemeanor charges where the misdemeanor charges the statute of limitations has expired in the case would be over. do i think the judge will do that? i don't know. should the judge considerate? i do think the judge to consider it and maybe that's why they will put brad smith on the stand to close the door on the felonies because remember they only become a felony if the false entries were made to conceal another crime in furtherance of another crime and quite frankly we still don't know what crime it is.

>> a misdemeanor could land you in jail, right? >> the misdemeanor gets dismissed the statue asian -- the statue of limitation long expires. >> he's not going to jail even if he is convicted of the felony and quite frankly he's not getting convicted. >> thank you but i want to go to eliza chi ones the wall street reporter. i'm taking a leap all of this means especially to discredit -- the discrediting against michael cohen that he's dishonest and eliza lott and now he's found admitting he is stolen from his prior boss donald trump. let's say he is devastating the case for the prosecution. we don't know what jurors are thinking in donald trump gets off scott free. this case is done in the only one likely adjudicated before the election. >> the gibbs trump and his face exactly what they are looking for so he can say he's been

exonerated and his opponent when after him. he was proven to be innocent and he can move on. i think either way his base thinks that this is politically motivated so trump is going to use this really regardless as to what happens in the trial to help him politically pretty figueroa trump rallied he talks about if not this case the other cases against him. he rattles down his list of grievances and for his supporters and the people that love him, they are very used to this. this is something that gets them excited and we saw my primary that each time a new indictment came out he solidified the republican base around him and it helped him to win the nomination. the question in this election is not one on bases its one on voters but you want your base behind you. >> he is testing expanding that when he goes to places that you

know certainly as he did in jersey and now he's going to the south bronx later on this week. he's going in to enemy territory so to speak. it's the only county i know of in jersey certainly you have 100,000 people there. you have a large crowd in south bronx when he's there so there does seem to be a message here. he wants to expand the based in go to places that republicans traditionally don't go. what do you think? >> right. i don't think trump is going to new york or new jersey. those are both blue states, new jersey a bit more competitive than new york absolutely he's trying to send a message and the other thing is those are close to where he needs to be. he's on trial every week so new jersey new york are closer places. i'm not quite sure what that strategy does. trump also talked about the map

and he lost in 2020 and he won in 2016. this election is going to be decided basically on seven battleground states. those are not new jersey and new york. i'm not sure it matters if he's in those states are not. he's such a well-known figure. >> we will see what happens in these leading in six of those in the seven battleground states so we will keep on it -- keep in iannetta. we take a big two-mile high view of these markets and goes out more than just to this week, this month or this year. about six years in fact where he sees that dawa in the 40,000 flirting with 60,000. ♪ in any business,

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you know they say there's a magic of compounding and being patient as investor. last friday when they hit the 40,000 we reminded folks it was the anniversary of the famous route group queen song i want to break free that was sort of our message to the markets. it broke free from an 11 -- a level with 1500 would the sun came up to 40,000 which is a 10%

annualized return was is essentially what edgar is talking about when he sees the dow getting to 60,000 in the next 60 years, the next six years i should say. what's fascinating about it it's not if you look at his numbers in the strategy and is has an impeccable record it make perfect sense. present in chief executive edward benning. let me get your take on what this is. there's a good shot at getting a 60,000 from 40,000 by the year 2030. which sounds like a lot in perspective it's not. explain. >> it's a 50% increase over this period over the rest of the decade. i've been thinking that all when all is said and done we might call this the decade the roaring 2020s. it's reminiscent of what happened in the 1920s it

basically protected the lead growth is what i think is going to allow the market to move higher. it's basically the economy will continue to grow and earnings will grow along with it and maybe grow faster because productivity is very good at increasing profit margins. >> when you look at the 1920s obviously people remember the end of the decade in 1929 and a very unique perspective on that. there was a lot of fraud built into that and applaud if everyone was happy and enjoying things in there were few people warning but do you see something like that now and are we getting ahead of our schemes? >> i think we could get ahead of our skis if the fed does decides to lower interest rates. interest rates have soared to have a normalized level with monetary policy were interest rates were before the great financial crisis of 2008 to the crisis of 2020 and 2021.

i think the economy has proven to be resilient at this level of interest rates and the lowest interest rates compare moore to the 1990s as being a template for where we might be heading in that case where there was a meltdown in the late 1999. the song party like it's 1999. if we have that scenario where the market gets way ahead of the polish forecast and i think we could have a meltdown. he could get ahead of itself right now that looks like it's moving along just fine. >> neither one of us is wrong. let me get your take on the attitude out there and you're quite right i don't see any craziness out there let the people said with stocks is a worrisome sign. what do you think?

>> well i think we have partly been through once and it took a dive. we saw some of the stocks soar and they took a dive in without any implications for the economy. the economy continues to grow so i don't look at these as the speculative. they aren't based on leverage the way for example the housing market in the 2008 bubble burst and even the leverage that occurred in the late 1990s when telecom companies financed a lot of their customers. >> there is leveraging the u.s. government, right? i know that can be a ticking time bomb in a black swan development. where are you one that can help this good royal that prediction. >> you and i have been in this game for a wild and as you know and as i know fears of a

calamity with the federal deficit and federal debt has been around for it leaves the past 40 years that i have been doing this but at some point we may get a day of bret reckoning and the debt crisis that this debt crisis was created by politicians and if we see it coming to ahead and we do a reckoning i think they can force politicians to change the trajectory of what we are on pretty would require cutting back and increasing taxes and right now as you know there are no constituencies doing any of that. you can't get a majority vote on any of it at this point. >> catching up with you and i'm glad we are technology and the attention on earnings on wednesday the attention in general they have been leading this parade not solely but they been a big part of it. how do you see that going and how important is that to this

60,000 view of yours? >> well i think it's not crucially important that it would make it easier to get there. it's reminiscent of the 1920s when we had a great productivity boom back then and increase the standards of living. this time around we have for skilled labor and companies have to increase productivity. they don't have any choice if they want to grow. so the technologies that are out there increasing not just the brawn of workers but also the brain of workers to help augment the mental skills of workers. it doesn't replace workers and so i think that's a huge productivity story that can play out for the rest of the decade and it's not just artificial intelligent. artificial intelligence has been around for a while inc. in lot of robotics so i think just using all these technologies more effectively and will --

growth in earnings. >> i do know you don't like to weigh in on politics the donald trump's taking credit for this rally in anticipation of him returning to the white house and joe biden is tweeting about this being ever flexion on improving earnings and economic stewardship. where are you on this? is it too early to factor in a luck shin today or is it not an issue? >> well i tend to try to tune them out as the stock market has tuned out the politicians. i don't think anybody who invests based on their politics has missed a couple of rallies, significant rallies. if you trump when he was president he would have been in the market and made a lot of money and if he didn't like trump u. would have been out and you would not have made money. half the country loved him in half the country didn't. the net result was the stock market has done remarkably well.

i think in the investment community we spend too much time focusing on washington and we have to give ourselves credit. america's full of hard-working people that are playing politics like the politicians are and they make the economy work. >> that is brilliantly put and that makes you a fair and balanced market reader. there are few out there so it's nice to see. very good catching up with you. the president chief investment strategist for the numbers don't lie in that leap from 60,000 in five or six years a little more than 10% a year if you think about it. meanwhile if you're looking to travel good airfare, cheaper airfare but there's a flipside as well. we will tell you about it after this. if you have wet amd, you never want to lose sight of the things you love. some things should stand the test of time.

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>> you might not like the experience of going on the road when it's a possibility it isn't disrupting a lot of americans looking at rvs. jet lock and -- mo khanna illinois. what's the latest and although all of a sudden we are looking at rvs? >> i'm going to take you for a ride nil. i love that movie by the way. this is a coachman pursuit rv and a lot of people are saying ditch the plane fare, ditch the hotel costs and take the hotel with you. it's been huge sales for rvs in alaska palomeres. we will put the numbers up almost double-digit sales last year increased the last two or three years have been pretty incredible. this fellow here has been in the

business for 30 years. use of the last few years were tremendous and you sold the lot of rvs. >> a tremendous last three years. code that started it all and people got into camping and they had never camped a foreign business was incredible. >> i'm doing it right now so there you go but the thing is a lot of people that got into it said i'm not totally in to rvs. you have a glut right now and it could be a good time to buy. >> it's a great time to get out and dealers have more inventory than usual so it's a great time to get out there. >> i'm going to try not to go-round the corners too fast and show you what is in here neil. you have your bathroom, shower and a twin size bed affair. >> a queen-size bed in the a shower just like your home microwave. >> two ways to go on this one i

could buy at 99,000 to buy it and if i want to rent it $250 a day. do the numbers on its neil that might be a bargain when it comes to your vacation. >> beautiful. are you insured or did they take out insurance on? >> i'm not eligible to be insured. apparently there were issues kreier so we call it self insured. >> i understand. the afraid, folks be very afraid. jeff thank you that. please be safe. >> we have bret with us and he said we are looking at a good summer for an travel deals and lower than expected when it comes to airfares. bret kavanaugh is the ceo. it's good to see you. i don't know if you would risk an rv or sit next to jeff but

it's for people who are tired of airports and they want to drive to their destination but a lot of people are in record numbers are going to airports and some are paying more than others. what's the deal? >> especially coming into more of a week in one of the biggest driving and flying holidays of the year. airfare prices are behaving this year so they are down 10 to 15% year-over-year whether flying domestically or overseas so it's a good time to fly. what that results in his record numbers at the airport. there could be congestion that largely operations have been performing well over the last year and folks are getting to their destinations okay. >> i noticed ryan was saying demand in europe isn't quite what it was but very pricey in places like canada, tokyo or if you want to go to or the middle east. what do you make of that? >> well fine capacity has been

improving so here in the u.s. capacity is up 5% for their more seats in the marketplace and jet fuel prices are down. both of those measures together driving prices down for consumers in the u.s.. we had seen globally leisure travel has held up well and is extremely hot and in terms of what's happening in the last market to come out a pandemic cycle. europe is still healthy especially when it comes to booking hotels. they are a lot of consumers booking in first-quarter earnings up. high single-digit growth for europe so travel is strong around the world. >> how do you deal with the airline to say maybe you're in timid data by her success and just saved book directly with us and don't bother with these outside firms but we can get you the best price but they keep pitching matt hennessee on a lot of their sites, book with us. what do you make of that?

>> not surprising. every company would love to have their customers book directly with them including priceline that the reason consumers continually to come to sites like ours is the technology we have built which works to maximize the number of flights that we can show you across airlines airlines and mix-and-match airlines to drive lower prices. these are things you can't find if you go directly to the airline's web site. we have unique technology and fair so we can deliver to you and we have strong packaging technology in place that allows you to bundle in a fight with any kind of hotel and discounts because their partners are willing to discount those because it's bottled in a package environment. >> even in the event of a cancellation, right? >> that's right. both pieces of the pie for you. >> bret keller. keeping up to date on the tit-for-tat in the united states and we are looking at 100%

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policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. and you didn't think the chinese would take 100% tariffs on ev's and ev suppliers and they are responding with the onset of tariffs related to the prisoner of u.s. relations at the kennedy school. professor it's good to have you. what can or will the chinese do in response? >> neil they are responding by trying to take the time over. they the a's announced an investigation into what they call u.s. dumping of chemical -- and it will take a least a year and might take a year and a half. it's a signal they want to share their displeasure and they don't

want to do it in a way that cuts off u.s. business and investing in china. it's basically a way of showing they might wait to see what the next u.s. presidential elections but the biden administration might do. >> i don't know if it's in the offing. i'm curious how china tries to work around these tears. you can ship a lot of that factory manufacturing work to other locales in the region or outside of china. how likely is that? >> is certainly the case of southeast asia is a place where lot of foreign direct investment and intellectual property is coming out of china into the region let's take electric vehicles which has been mentioned if you look at how these of proton which is the manufacturing of view these of malaysia that company has significant chinese investment from julie the manufacture and also lot of the technology out of china as well. i think it's fair to say

although china is a direct target of these tariffs chinese technology chinese investment is spread well outside of china's borders particularly since the chinese economic downturn of the last couple of years has meant there fewer places to invest chinese capitol in their own country. looking at asia more brightly and beyond its become more important. >> professor thank you very much. i apologize for the timing with the breaking news we have on here. depressor of u.s. asia relations -- the professor at kennedy school. we are looking at 40,000 plus gains that these are the latest. we have heard from a number of polls that we will see a lot more stops. keep an eye on it for the next few hours and over the next hour with these guys,