Varney & Company : FBC : June 7, 2024 10:00am-11:00am EDT : Free Borrow & Streaming : Internet Archive (2024)

stuart: what is this? boogie shoes, casey and the sunshine band. with a british accent it doesn't sound the same. ideal music for friday morning. that is new york's sixth avenue, the hub of commerce in sixth avenue. it is 10:00 eastern time. the market has come back. we open with a loss of 200 points for the dow industrials because of an employment report that didn't go the investors way. we are down 12 points. the 10 year treasury yield, very important number. it is up 14 basis points because of that employment report, up to 4. 43% right now. the price of oil $75 a barrel, bitcoin rallying, 71, $72,000 a

coin as we speak. now this. i am new york, the poster child for democrat big-city failure. the latest episode, a new toll, a new charge, new toll to drive in the center of the city has been dropped weeks before it was due to go into effect, replaced by an extra tax on business. this is 1 more way, new york, more than a new york story, it is relevant everywhere democrats have been entrenched in power, management is right, mismanagement is rife, recovery distant. it was called congestion pricing. any vehicle entering the central part of new york city would have had to pay $15 and up for each trip each day. environmentalists loved it, less pollution. central planners loved it, fewer traffic jams, the bean

counters say it would bring in one billion dollars here. everybody else hated it. the haters won and governor hochul issued an indefinite pause on the whole thing. it's probably done for good. instead, the governor wants $1 billion tax hike on business. it's called the payroll mobility tax. payrolls will be mobile, they leave town. the city is reeling from the pandemic, office buildings half-empty, migrants in the streets, shocking crime scenes unfold on tv every night and now i knew tax. what a mess. this is the city that is proud of trying to put donald trump in jail. second hour of varney just getting started. jackie deangelis joins us this friday morning. none of this will help.

neil: you showed the shot of sixth avenue. congestion pricing over the city's empty post pandemic i don't need post congestion pricing, governor cuomo who was a proponent of the idea before the pandemic said the city is not right for that right now. we are in dire straits and this is not the time, you want to charge middle class people $15 to come into that, sometimes multiple trips today, you 're going to cripple the city, people are not going to come here and it will be worse than ever. they looked at the case study in london where it backfired. congestion got worse and they found the people at the party pushing it took a lot of pushback as a result because they took the money and didn't invest it the proper way which i could see happening in new york city so she says the other way to do this is cripple small business and they will flee so it's like that is an easier way to try to get the money that

she needs but none of this is good for new york city. people are outraged. stuart: it's not an easy way to get $1 billion, raise taxes on businesses. lauren: you trust them to reinvest properly? stuart: mismanagement is rife in the transit system. the city is in trouble. i will move on to another outrage maybe. hillary clinton appeared to associate trump with hitler on a post on x. 80 years ago, 11,000 great americans fought to protect democracy on the shores of normandy, this november, all we have to do is vote. the trump campaign responded hillary clinton is a stone cold loser who presided over the horrific benghazi debacle, nobody takes hillary seriously. hillary clinton will never get over her loss.

taylor: she said something, has to punch back but ultimately this is a fight for democracy. and all the things he has done make the and an argument that they've been a bigger threat to democracy than donald trump. to me it reeks of desperation when you have to act at the 5-year-old level to take your opponent down, you don't have the substance to attack on policies. two p with a track record back to back, the they say i can think about my life at this point and i can decide what's better for me. stuart: thanks for being with us. appreciate it. the judge presiding over trump's classified documents case turning the focus to jack smith's appointment as special counsel.

lauren: the judge, eileen cannon is trying to determine if jack smith is trying to do that lawfully. smith was appointed by merrick garland, the defense says smith should be disqualified. there's a hearing to decide this at the end of the month. this is florida, the judges running the clock with rulings that are so far favorable for the defense, the opposite in new york. stuart: check the markets. that is a fractional loss down 6 points. the s&p down 4, nasdaq down 40. not much of a decline. ryan pain is with us, the gap between what a i wants to deliver and what it can deliver is a wide gap. is the market ahead of itself? >> way ahead of itself.

they tend to get too enthusiastic about new technologies and they become maybe undermine how much technology can transform the economy long-term. venture-capital firm estimated last year $50 billion invested in ai, revenue, i'm not a great mathematician but that's a great return for your money. stuart: is overpriced at $1200 a share? >> i liken it to cisco where it got to hundred times earnings and demand dropped off 90%. nvidia had the same risk but we are in the middle of the party. neil: it will end. stuart: on new things that come on the market burst onto the scene, you get the dot.com

bubble, it comes down a bit. you don't know. >> what we learned is it is better to be early when the rest of the market is on sale. the european forces at all-time record highs, every force around the world less than the magnificent seven with growth rates increasing the cut interest rates, so many places to put your money. everyone putting their money in droves. at some point it will end bad. stuart: the dow has turned around completely, up 15 points. does that imply the market believes the fed will cut rates and soon? >> the borderline.

270 new jobs. inflation will moderate, costs come down and purchasing power is good. you get all that money past 6 trillion funneling into the market, it is on the board a lot. stuart: i'm not selling anything. >> i would say that's the right decision. stuart: you are not my financial advisor. i will do it myself. i want to start with gold. lauren: look at the divide, down 3.5%. anglo down 5%. chinese central bank past purchases of gold in the month of may.

got too expensive and now you are seeing minors down as a result. blue one carvana. lauren: they delivered plans for growth the next 12 months and those plans, stock is up 4.6% include savings on interest and ways to be profitable. stuart: wasn't that the stock that sank $3 a share? it came way down. lauren: it is up 331% in the past 52 weeks, doubled in price this year so they are out with plans to reduce leverage. stuart: $109 a share. they are resorts. lauren: they cut for your profit guidance got blaming the warm weather, something -- the brokerages laying in, stocks down 13%. stuart: coming up, several awkward moments with president biden during the d-day

ceremony. cory mills is in normandy, we will see how biden was viewed on the world stage. the president apologized to ukraine's president zelenskyy pretty late in delivering weapons, he blamed republicans. peter doocy's in france with the details on that meeting next. ♪

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>> market opening, we have a complete reversal, opened with the 200 point loss, strong employment report and we are up 46. the nasdaq is 45 points down.

any moment, president biden gives a speech on the importance of defending democracy and freedom, hours before he met with volodymyr zelenskyy in paris. what did they talk about? >> reporter: president biden trying to back up his big talk, similar to threats to democracy in europe in the 1940s ahead of d-day at the heart of world war ii. announcing a new $225 million munitions package for ukraine that president biden says would have gotten there sooner if not for congressional republicans. >> president biden: i apologize for the weeks in terms of funding get. we had trouble getting the bill we had to pass funded the.

some of our very conservative members -- we got it done finally. >> president biden is going to do something unthinkable in an election year, using which similar to a famous republican and we got a hint of that in his d-day remarks. >> we in america learned bitter lessons from two world wars, we learned isolationism never was and never will be an acceptable response to to radical governments and expansionist intent. >> president biden: isolationism was not the answer 80 years ago and is not the answer today. >> reporter: president biden will be standing in the same exact spot ronald reagan stood at at the 40th anniversary of d-day with his back to her steep cliff the army rangers had to climb up to take out the german bunker he will be

standing on. neil: i remember it very well. see you again soon. several awkward moments for biden during the d-day ceremony. he appeared to be sleeping at one point. he seems confused on location. congressman cory mills is with us. you got to see biden's demeanor firsthand. how is he perceived on the world stage? >> reporter: you in the american people saw the same thing. all our allies, he didn't have everything together upstairs, he was lost, disoriented, seemed to have cognitive function issues not to mention he left world war ii veterans on the stage for an hour because he was late to the memorial speech to begin with. i don't feel we are bringing our best when it comes to our

allies cs and how we are views on the world stage. stuart: i can see ronnie jackson is with you in normandy. you were the white house doctor. you saw what's going on, should he take an acuity test? a montréal test? >> absolutely. that to the standard. the precedent has been set. we did one for donald trump during his presidency. he got 30 out of 30. there should be the same level of outcry from the media and those demanding attest on donald trump's behalf for president biden. we have somebody with cognitive issues right now. an article came out, proved it is not just what we see on a regular basis but behind the scenes as well. it is a scary situation, national security issue it needs to be taken seriously. stuart: the first lady flew

back to wilmington to attend hunter's gun trial. is the first lady's constant presence in the court in the courtroom, is that an intimidation tactic? >> reporter: i don't believe it is. we did the same thing, we wanted to see how donald trump was being treated with regards to lawfair new york. it is typical if i said i mother wanted to be there to oversee the trial and make sure it is going right is a wave intimidation, no different, lawmakers saw the weaponization by judge murchon with a misdemeanor crime outside the statute of limitation that allow the justice system to be used for election interference tools. no, i think that is why she's there, to support her son. i want lawfair to stop and for us to have an understanding of what it means to have scales of justice. stuart: you reacted to the invasion of normandy, jumped out of unoriginal world war ii

see 47 playing. what was it like? you were a paratrooper before. >> it was amazing. we just got through the jump. we just packed up, to be able to honor the brave men who jumped here to fight for freedom, the men who sacrificed everything. it's a blessing to be here. great jump. soft landing. everyone was safe. honored to pay homage and respect to those who served long ago to fight tyrannical rule. stuart: cory mills has jumped before. have you? >> reporter: i jumped a lot with navy special forces but this, we've done a lot of jobs, this was a beautiful day and we

jumped into saint michelle and there's a castle behind us. when we came out of the aircraft we were on top of the castle. it was unbelievable. it was special. stuart: you guys are an inspiration to us all. thank you very much. a rideshare apps known as uber with guns is expanding its operation. wait a minute. uber with guns? what is that about? ashley: it's called black wolf, a gun toting tiktok famous rideshare service expanded to miami with the fleet of armed drivers with police, military, security backgrounds. the founder launched this company in atlanta in 2023, across miami, fort lauderdale and other florida cities. riders can respect armed or

unarmed driver but they must have four years of private security experience. rides cost more than left but prices are comparable to the high end uberblack. a 15 minute drive from miami city hall to little havana with an arm the driver could run you $76.58. they don't continue to provide security, only for the ride itself. stuart: this is america, isn't it? by the way. we want to know if you would use a service like black wolf. email them, varneyviewers@fox.com. a fox news poll shows majority of voters in nevada trust trump over biden when it comes to securing the border. is is the border a top issue for latino voters?

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a complete reversal, the dow was down 200, up 91. nasdaq down 100. now 38. right before the weekend. you've got some movers to be looking at. 3m is going up. lauren: upgrade to buy bank of america, price target 120, the new ceo focusing and growth after years and years. stuart: fulton financial. neil: the rating agency moody's place the six on review for potential downgrades because of their substantial exposure to commercial real estate firms. higher longer in terms of interest rates. stuart: how about game stop? lauren: amc, blackberry, they are down.

game stop supplies reported early this morning, that was a drop in sales announcing $3 billion stock offering get. we might discuss this during the live stream but halted game stop down 20, amc down five, cost go down ten. stuart: president biden hit back at trump for criticizing his new border policy. what did he say? ashley: he told world news tonight, trump is upset because the president has seized the initiative. >> you bring up donald trump, he has said of your executive action, he's pretending to finally do something about the border but it's all about show. we have a debate coming up, biden's executive order is weekend pathetic. >> president biden: is he describing himself? week and pathetic? come on. everybody knows what is happening. we had deal.

much better, more accepted across the board. he got on the phone and told the republicans don't support it. it will hurt me and it will help biden. ashley: biden was referring to the bipartisan border bill negotiated in the senate which republicans blocked twice. gop lawmakers call this too little too late. stuart: a fox news poll shows 59% of nevadans trust trump over biden when it comes to securing the border. daniel garza joins us now. is the border issue the top issue for latino voters? >> it is a priority issue for so many americans, it has been jarring to see the images of migrants entering unabated across the border. those entering without prior authorization, thousand today, it overwhelms our ability to

process them and overwhelming american cities, 10 million over the past few years so it is infuriating to hear mayorkas tell us we have operational control when biden issues he owns that will do nothing to resolve the crisis, codify what's happening at the border now. many of those crossing right now without prior authorization are coming with countries of special interest and the inadequate vetting is a grave concern. the southern order is a massive vulnerability to security of every american and biden's ineptitude made us easy prey. stuart: it was widely believed biden opened the border because he thought that would attract hispanic voters, hispanic people would approve of more hispanics come into the country. didn't work out that way. >> latinos don't like chaos and lawlessness. they like rule of law. they like an orderly process.

we want to increase the number of folks coming legally to address market forces and keep families together because immigration made america strong and will continue to do so but only when it is done under our conditions under numbers that we said in an orderly way. when we lose operational control of the border. stuart: the trump campaign rebranded its hispanic outreach from latinos for trump to latino americans for trump. does it make a difference? >> i can't speak for the group but my sense is the operative word to emphasize is american. that word represents not just the country but the shared principles and values that unite us as americans. we have a focus on candidates who will promote tried and true

american principles, rain in unfettered government spending. somebody doing a full throated defense of constitutional freedom. all of them with liberty government, property rights, these things matter, these are american principles and latinos recognize they are facing hardships because biden a democrat led senate, tammy baldwin, casey in pennsylvania, jackie rosen in nevada, they voted to fuel the massive spending and antagonistic against capitalism and small business and taxes and regulations with productivity. stuart: would you say the latino community in the united states is naturally concerned? >> they are. intuitively and instinctively they are conservative, for

those on the center right to engage on them, to take yes for an answer, the shift we are seeing. they are rejecting a one. 6% gdp growth. wages are ground, latino families are suffering. under the biden administration, rejecting failed policies biden in the democrat party has been proposing. let's get to a direction that will put us on a path to productivity and growth and job opportunities. stuart: have a great weekend, see you again soon. a super pac with senator tim scott spending big to reach voters of color. how much are they spending? ashley: 14 million between now and election day. the great opportunity pack was formed when scott ended his

presidential campaign and directing efforts now toward black voters in swing states. with black voters, showing signs of defecting to trump at the margins. scott sees a generational shift among working-class racial minorities toward the republican party with black men driving that change. they have 7 million cash on hand for the initiative but plan to double that. stuart: president biden called trump a dictator. things he said are off the wall, i want to be a dictator on day one, go in a direction where he talks about suspending the constitution. that is what he says. remind people what i believe and what he believes. he is about him.

i'm about the country. stuart: calling trump a dictator. is that a winning trust strategy? republicans introduced a bill to reverse biden's changes to title ix. riley gains next. ♪ [thunder rumbles] ♪ ♪ ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently.

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stuart: where are we now? now we are all up. the dow is up 165 points. small gains for the s&p and the nasdaq. the united states championship game in birmingham, alabama. brandy campbell is there. such the scene for us, please.

>> reporter: taking to birmingham, the football capital of the south. college football is a big deal but this weekend it is all about football with the us fell, this is their inaugural year after the usl, usl and xfl, we are at protected stadium or tomorrow the birmingham stallion at michigan panthers will battle in the usfl conference. the xfl conference was sunday in st. louis and conference winners play in st. louis for the usl championship on father's day. they are seeing the game from another perspective. i'm talking cameras and mike's on some of the players and two members of the stallion squad, and natalie, they are all on

the field tomorrow. what will fans look forward to? >> reporter: the birmingham stallion's built fan support. everyone is excited to have this, everyone's hometown pride is showing for room. 2000 people have shown it up, they will tomorrow also. >> reporter: why should people cheer on the stallion? >> it's a big game for us. people should come out and support and hopefully getting this win will take us to the usl championship. support your team. >> reporter: what can people see from you tomorrow? >> i will just be here. >> reporter: the weather is beautiful today, open stadium. our fox weather apps says tomorrow is just as beautiful. back to you.

stuart: that was an interesting interlude. you can now watch fox weather on fox business saturday and sunday from 6 am to 9:00 eastern. 70 republicans introduced a bill to reverse the changes to title ix. riley gains joins me. what changes has biden made to title ix? >> reporter: title ix, 52 years ago in 1972 was only 37 words, one word being activity which allowed title ix to be what it is notable for, creating equal opportunity in sports and any program that receives federal funding but the biden administration has taken this 37 word piece of legislation and created a new proposal

that's almost half a million words, one thousand 577 pages long from its original 37 words. that should tell you what you need to know. what the biden administration has done is equate sex with gender identity, there are no more sex based protections which means men have access to women's locker rooms, changing spaces, they can take athletic scholarships away from women, be housed in dorm rooms with women, speech would be compelled, you would be forced use biologically incorrect but preferred pronouns. stuart: that is what you are fighting. a transgender athlete is complaining about the lack of sportsmanship from fellow runners. the trans athlete beat biological girls in a 400 meter race last month winning the state's championship. is this unsportsmanlike behavior? >> of course it is. what do we call lance armstrong? we call him a cheater and that is what this boy is, whether he's following the rules,

ultimately the rules are the problem. that's why myself and 15 others are suing the ncaa. thomas competed with an unfair amount of testosterone living his life as a man but check that out on take on the ncaa.com. veronica garcia, the boy in washington to which you are referring to was only five state champions, 10% of the state that had a boy winning the girls title. how many girls have won boys state titles? 0. stuart: trans athletes in sports, has this become a partisan issue? democrats want trans athletes in women's sports, republicans do not? would that be accurate? >> it is accurate in terms of how the media is portraying it and elected officials are voting on this issue,

representative miller introduced the congressional review act that combats and would overturn the biden administration's rewrite of title ix. that has fallen on party lines but that is not representative of society at large. the overwhelming majority of everyday americans, who intuitively know the men and women are different agree that allowing men into women's sports is horrible and within every scenario adversely affect women. stuart: to be accurate, when you say boy you are talking about biological males. >> don't make this complicated. i'm talking about a boy when i say man, i'm talking about a man. the importance of clear language here is crucial. that is why i use sex based pronouns. it is harmful when you hear someone say her male genitalia,

that diminishes our english language any races women. stuart: thanks for being with us today, see you soon. coming up, a school district in new york is apologizing for using exclusionary language to promote a students of color event. william jacobson deals with that next. (♪) at enterprise mobility, we never stop looking for new mobility solutions. because sometimes the best road forward, is the one you didn't expect. (♪) when was the last time you checked in on your heart? with kardiamobile, the personal ekg device,

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stuart: a new york state school district is apologizing for using, quote, exclusionary language to promote a students of color event. the apology came after an anti-affirmative action group accused the district of segregating students. william jacobson joined us. is it segregation? >> yes, it is. we just sunbathed the 70th anniversary of brown versus board of education which a laminated segregation in public schools and we found out and he will protection project in city schools which cornell university is located were having events and whites were excluded. the language is these are for

only students of color. there was an internal email saying, quote, allies are not welcome, allies being white students. we wrote a demand letter to the school district, insisted they stop this practice. they denied the practice even though we had the evidence but we insisted they apologize and inform the community that it is open and they did it. they sent a mass e-mail. email. blue when you're satisfied with this? >> so far. we have a freedom of information act request into the district to find out what's going on, we have strong information that this has been going on for several years though the school district denied it but we think that's true so we will keep digging. we are satisfied they opened the event but not satisfied because they've not come clean. do they need to do that? stuart: we saw anti-israel protests at the end of the semester, most of the parents are home for the summer. is that the only reason

protests settled down? the kids have gone home? >> i think it is. when we get back at the end of august, we will see in tensor 5 protests. they are organizing over the summer. already increased the aggressiveness of their language. i think we will see everything that happened the past 8 months on steroids on campuses. they will be confrontational and i think there's going to be violence. stuart: harvard says they won't take a position on issues that don't have to do with the school. will that help on campus? >> i don't think so. it's too little too late. they've taken positions, the faculty's monoculture to the left, there's no diversity of viewpoint left on campuses. it is nice all of a sudden after this has been done to academia to announce you are neutral, they should have been neutral 20 years ago. i don't think it will make a difference.

stuart: you are a free-speech guy. would free-speech be making a comeback? turn the tide? >> i don't think so. there are instances where it has but the college culture in general is repressive but there has been progress made. americans say there is no progress but people are getting fed up. students are getting fed up having their voices silenced and harassed. what is happening now is putting this into focus because the administrations discovered free-speech. for all these years when they monitored free-speech and suppressed it but if you want to chant against israel and do things against israel it is free-speech. a strange situation on campuses. stuart: we appreciate you being with us. see you soon. some colleges with incentives

like half off tuition, free dorms. big incentives. neil: the university of the arts in philadelphia close. students had a couple days, 1100 of them are orphans. schools in the area in philadelphia, pennsylvania, are luring them in with deals like half off tuition and a semester of a list of schools giving us something if you want to switch over. the bottom line is colleges are struggling financially. they have lower enrollment and students are struggling to avoid the tuition. the forms that tell you how much 8 you get from the government to go to college was so botched. everyone at a loss. stuart: still had, florida congressman mike waltz on a new fox ball leading trump by leading four points in florida. trump's home turf.

chad wolf, 10,000 migrants being apprehended by border patrol in one day, four times the amount on the new executive action. biden's meeting with vladimir zelenskyy, he apologized and blamed republicans for the weapons delay. the 11:00 hour of "varney and company" is next. investment opportunities are everywhere you turn. but at t. rowe price, we're letting curiosity light the way. asking smart questions about opportunities like advances in healthcare. and how these innovations will create a healthier world tomorrow. better questions. better outcomes. you founded your kayak company because you love the ocean- not spreadsheets. 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

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