Here is your inflation headline. Prices of the consumer level went up 3. 2 , that means inflation is picking up after a long period of decline. Investors were expecting a bigger number so the market is taking it rather well. Inflation the way, up in ame america, in china its deflation, prices down. Lucas dextran a strong prefer the numbers were released and Even Stronger no. The doubt up maybe 200 points, s p 33, nasdaq up 160 points. Then disney lost 512 million and its streaming business, 11 million subscribers lost. Stock is up because its raising prices and disney 10. 99 to 13. 99. Stock is up dollar 81. Treasury yields from a ten year was up 4 before Inflation Numbers, now its come down to 3. 98. To you around 484 inflation and now its down to 476. Politics, President Biden . Peter doocy denies talking business with his son, hunter. I knew youd have a lousy question, he said. A harvard law professor writing in the New York Times the prosecution of them may have terrible consequences. Too late to back off, its being launched. Back need for distraction. Dramatic pictures for mary, hurricane brushing away with strong winds fanning welders. So that people are running to the to escape the flames. On the show today, dave fresh from his buyback sports, or one bite pizza festival charges 300 and nearly sold out. Logan paul, a man who made a fortune on youtube and wrestling and now going back to boxing. Plenty of rich guys in the show today. Thursday august 10, 2023, bernie and company is about to begin. Stuart theres a name. We are going, we are going. Stuart producers, good call. Starting with inflation, extremely important. The last 12 months prices of the consumer level rose 3. 2 . Meanwhile or inflation, see what happened with that. Year over year, inflation will play 7 . Brian brenberg is with me this morning. 3. 2 overall Consumer Price inflation year on year, over football visit to exclude energy and food. They were up to that would produce a higher call. Energy is up now the second half of july, thats not baked into the member but there is a problem with it. You see inflation plateauing while you get Energy Heading north so everyone says dont worry about inflation, rents number will come down so dont worry. But oil is headed back up and i can more than replace it so we are not out of the woods, wall street likes the number, not out of the woods on inflation. Stuart yet the stock market is straight up this morning, how do you explain that . Is the headline, the smallest backtoback monthly increases in two years. Each of the past two months cpi has risen. 2 . It happened the past two months so the slowest backtoback increase weve seen in two years, thats the headline so inflation is still with us, not going down as fast as wed like but it is increasing at a lesser rate. Stuart the federal ease up on rate increases, is that the instruction . In theory. Chairman powells hope said we raise rates at five and a half Percentage Points over 14 months and important to understand. Shirtsleeves rates and suddenly things change, it takes time. Home prices adjusted for many months, wages the just over many months, contracts, only one year so there is a lag. Stuart got to look at china now entering deflation, extremely serious thing for any economy. That might be a positive to the extent that we are importing products from china. If they have deflation and pricing going on, they may lower prices and make it more attractive for the u. S. To buy chinese stuff, potentially deflationary. Stuart which is a professor of economics have to say about deflation china . It might help inflation story a little bit but china is part of the global economy. If they struggle, that will hit us and we got an economy, adam is the optimist. I think were closer teetering on the edge than things. If china goes south, it pulls was with them so out of globalists risks, the saudis dont want that to happen. The world is conspiring against us, we got to get our house in order. The problem is we are not getting our house in order so we are vulnerable. Stuart back to the stock market, im not going to say you are bullish but youve been in the market. Been fully invested for many months, i lost money last year. Im making my client quite a bit of money this year. We are up quite a bit and continue to be fully invested. Where we are going is the Wayne Gretzky market, where we are going is better than where we spent where we are going only thing better than where we are, employment is as strong as its ever been, gdp going back than we thought, earnings or not is not in its twisting. They think all the ice is melting. Stuart i got to look at individual stocks, a 7. 4 decline in subscribers on disney and most 512 million on streaming platforms and one quarter. They also announced price hike to disney and hulu, add free disney close to 13. 99 a month and hulu 17. 99 a month. One area of growth was parks, experiences and products, a nice division there, 13 increase. The stock, disney is up this morning. The cnn host confronted White House Press secretary jeanpierre on the president s economic record. We know the polls so people are sour on the economy, isnt that dangerous getting closer to the election things take a downturn . Why use the president s name with the economics americans arent happy with . Economics is working when you say you look at the, cost is going down, when you think about wages going up, that is bidenomics. I was intrigued, a guy on c cnn, why do you mess up bidenomics mixing it with the economy . It sounded like advice, stop calling it bidenomics if you want to win. Her answer has to be wages are going up, no they are not. Inflation still going up, still of the problems, might not want to make a right into that. Stuart some in the Mainstream Media skeptical, but its interesting. Of the care about his reelection, they dont want him to box himself into a corner which is what hes doing i think what hes doing. I want to educate. I think biden will not be the candidate in the election, democrats will move. Im not sure hes capable. A different question but equally fair, is he capable of continuing to serve in that role . There are enough democrats based upon what we observed everyday, you have to begin to wonder whether even they want to see that. Stuart politics and money mixing objects. Bidens job approval stock at 41 , a economy top issue, 60 said they disapprove of bidens handling of inflation, 60 the country doesnt feel we are in recovery mode. Spend some time outside of the media, hang out with the family for like a week, hang out with the people [laughter] be a man of the people, fill up your gas tank, going to the grocery store, everywhere you turn your getting nailed. Autocare this Inflation Report gives us threepoint something or fourpoint something, it doesnt matter if you buy groceries over week, youre saying i cannot afford this, i used to count on everything. Stuart ice shouldnt be objecting this but ive got to say it, do you know the average rent in new york city in july . Ill tell you. I think its 3200. Stuart no, 588 a month, the average of all rent in new york city 5588. Well discuss later, gentlemen. Futures, please. A rally going, the market like the Inflation Numbers. Coming up, dave took back control of sports and started by saying this about employees who arrived late. How stupid of this company . Owned it less than 24 hours and what time is it . 945, hes got to be the dumbest in the world. Stuart dave will be on the set a little later in the show. We will use the [bleep] machine. New york city eric adams specs the city to spend 12 billion to manage the migrant crisis, where is the money coming from . As we say, average rent looking at the other end of the term, 5588 a month in new york. Will be back to fact check. E benefits and retirement savings. With voya, considering all your financial choices together. Can help you make smarter decisions. For a more confident financial future. Hey, a tandem bicycle. You cant do that by yourself. Voya. Well planned. Well invested. Well protected. With a majority of my patience with sensitivity, i see irritated gums and weak enamel. Sensodyne sensitivity gum enamel relieves sensitivity, helps restore gum health, and rehardens enamel. Im a big advocate of recommending things that i know work. This is american infrastructure, a prime target for cyberattacks. But the same aipowered security that protects all of google also defends these services for everyone who lives here. Ah, these bills are crazy. She has no idea shes sitting on a goldmine. Well she doesnt know that if she owns a Life Insurance policy of 100,000 or more she can sell all or part of it to coventry for cash. Even a term policy. Even a term policy . Even a term policy find out if youre sitting on a goldmine. Call Coventry Direct today at the number on your screen, or visit coventrydirect. Com. Look at that rally go, 200 for the dow, 140 for the nasdaq. The nine favorable Inflation Numbers did that to wall street. New york city and massachusetts declared a state of emergency because of the migrant crisis. Madison alworth outside of Migrant Hotel in new york city. Mayor adams says the cost could come in at 12 billion, thats a big number. Its an unfathomable number but thats exactly correct. Three fiscal years covid 12 billion and ive been covering this for some time relative huge number, you understand why when you look at the numbers. This is the Migrant Center were the process everyone. The city making an effort to clean up what is a mess for the past couple of days but this is a fluid situation. We have buses coming in with hundreds of migrant daily, we expect a line to form here as the day addresses but things are looking better here. The reality though is we are experiencing a huge overflow of migrants, its prompted mayor adams to ask for federal state of emergency and for massachusetts to declare one in the state as asylumseekers flood sanctuary cities. Leadership is pleading for help as the tab brings up. Three fiscal years, told billy dollars, break that down. At the current rate, the migrant christ 383s dollars a family seeking shelter and services each and every day with 57000 an hour care, the city says they are paying 9. 8 million a day. The day after this public cry for help to the federal government, we are learning mayor adams is set to meet today with one of bidens top aides but it might be a little too late with the Mayors Office projecting not huge price take nearly 100,000 micros have come through new york city since last spring. In massachusetts their housing around 20000 people in the governor declared a state of emergency. Once a state that prided themselves on sanctuary cities, now that the sanctuary cities are utilized, the governors tune has changed. I think we have a system working well here, a number of places adopted is status as century city and think is working. Today i am declaring a state of emergency in massachusetts. Not working anymore with the bluest of blue states and cities complaining asking for federal help, for state say weve been dealing with this for years. Stuart so the house. Even msnbc is thumbing the administration for the handling of the border. We are seeing all of these pictures, as i understand, how you look at the numbers, i understand that illegal border crossings in june drops to a twoyear low. Still chaos. Its a state of emergency, theres nothing positive about this for anybody involved and its a situation that looks to be completely out of control. Stuart has Homeland Security tour mark green joins us not. It really says something when msnbc is upset about the border. That tells you something. Absolutely. By the way, great first segment on your show, enjoyed it. Laughable democrats, 200 they are showing up in the city of 11 million people. El paso, texas has a population less than 200,000 dealing with 875 a day. Now this massachusetts governor, 20000 total have hit and its a state of emergency. Thats ten days on the border in arizona. This is insane. I mean, im glad they are showing up, maybe it helps make a difference, these insane border policies are destroying our country and biden is asleep at the meal will. Stuart new york city want to billion, there must be some of the bills over the country, adding up and adding up, whos going to pay that . I dont know if you saw senator kyrsten sinema, she was frustrated, i think new york got 143 million female dollars a lot of like a week ago and she went through the roof. Arizona dealing with a massive wave up to 30 or 40 and its coming from the taxpayers. The taxpayers are funding the bill and the consumer. Stuart and talking yesterday, peter doocy asked President Biden about devon archers testimony. Theres this testimony one of your sons former Business Associates is claiming you were on speakerphone walking bus business. Never talked business, i know its a lousy question. Why is that a lousy question . Its not true. Thank you, mr. President you want i dont know why the monty python theme song was playing but it was. What you make of his response there . I think its time to flip the script and talk about lies to the american people, both as Vice President and now. Its clear arranged meetings foy from archer was in china coordinated for the creation of a company that would do dealings with china so this is so absurd, its time for impeachment inquiry, the dealings so the money from foreign governments, the actions hes taken, very close to checks being sent are two suspicious to wait any longer. Stuart thank you very much for being on the show, always appreciate it. See you again soon. Take a look at futures because you might like to see. Dow is up close to 200, nasa going up 130 points with seven minutes to the opening bell. Take you to the wall street after this. Shingles. 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Call unitedhealthcare for your free decision guide and learn more about lowering your outofpocket medicare costs and seeing any doctor who accepts medicare patients. Oh, and happy birthday. Or retirement. In advance. On the futures market we seek some green, got up close to 200 at the opening bell, catholic up 29 points as of right now. Here he is with us, consumer place inflation came in at 3. 2 over the last 12 months, what is your take . Its better than a year ago but i watch current and all i can tell you right now is oil prices are 84 a month ago, 68 is the mission of inflation Going Forward and that is to be watched, its to simplify things for viewers, watch the tenure yield. If it going four and a half, thats the free market telling you inflation is getting hot again if it stays down, good news and watch oil prices if they start to come down, thats good news also. Stuart you dont seem to think 3. 2 inflation is good news. I would have thought the fed will look at that and think. Definitely good news from a year ago but im a believer in the free market and the bond market will tell us everything we need to know and if yields come down, thats going to tell us things are better. If yield goes up, thats going to worsen things. Thats where mortgage rates, credit cards have gone 14 to 21 , a new record. Whats being charged the people and record numbers and credit card usage so theres things on the horizon that better work themselves out or we will hit a wall economically. Stuart a lot made the ai play, do think the ai play is in trouble . Near term, yes. Topdown badly recently, one of the big ones was super micro, dropped 80 yesterday. Nvidia, too. Near term, i think longer term i think there will be big money to make. I talked about negative nearterm on microsoft but longer term i think is the number one ceo in the world and i think they will make big bucks so longerterm yes but right now i think they got overheated and every now and then they got to pull back and notwithstanding the balance this morning, i think they are in pullback mode this morning. Stuart gary, thanks very much. Well see you soon 20 seconds to go before the market opens and we will show you the New York Stock Exchange as we say almost every day, is going to step forward and pressed the boat and where do we go . Three seconds. There you go. A delay there. Now its open, what a relief. Stuart is open on the upside, glad to hear that. Dow industrial close, 190 to be precise. The dow 30, lets see the red or green, im expecting to see a lot of green but the s p 500 half a percentage, the level 4490. Nasdaq composite opening fire. 13000 is the mark, 94point, two thirds of 1 . We have the board get . Show me the board with the dow 30, that tells the story. They are all up, every single one of the on the upside. The dow 30 and the dow itself is a 200 points. Big tech presumably of, all in the green. Microsoft also but, meta and apple, they are us. Lets look at disney, here is how its open, up 3, 3. 6 . Ninety dollars a share, it is back. We also have the parents of tapestry, coach parent tapestry, the parents of coach, do i have that right . Buying micro cores, its valued at 8. 5 billion, what you make of that deal . Fashion is hardly to make money, you have to reinvent yourself three times a year, sometimes four. Ive never owned a fashion house and probably never will. Stuart i can see that. [laughter] with got wind resorts, business booming in las vegas. Winners seeing strong Hotel Bookings and i happen to know adam is a big fan of when. A visitor to las vegas time to time and owner of the stock and i bought this for a couple of reasons. One is a play on normalization getting the economy back to where we need to be number two, innovation specifically around sports betting. Incredibly powerful platform that could be worth 3 billion as a standalone 30, its a great story. Stuart 104 a share. Themepark operator six like is down no its not. Six like is a tiny fraction. We are told few people are going to their perks in the Second Quarter and i happen to know, hes always some time ago. In 2020 as a play on the wheels getting back on, everything got sold off so hard, a wonderful story. Great restructuring if you go back to 2017, i dont own it anymore, it did its job, it went to the target so i sold it. Stuart disciplined investor. I think its important, part of the plan. Stuart then we have solos, the speaker people and that stock is up 6. 3 this morning. They updated the forecast, they now think they will make more money than expected. Didnt they just lay off 7 of the workforce . A huge surge during covid because we were at home and needed entertainment so we bought speakers myself included. I love it but that surge happened. You cant grow 30 year after year so yes, they lay people o off. Stuart subwoofer. [laughter] did the neighbors like it . No,. [laughter] you and have a look at ali baba, i think it is up this morning. 2. 8 . A chinese ecommerce site, the biggest annual increase in sales since september, 2021. Wait a minute, weve been talking about weakness in the chinese economy, ali baba comes in with enormous increase in sales. Ali baba is like amazon walmart china so if you need a bargain, where you go . Amazon and walmart. I think in china it ali baba, they do well. The professor a for today. In other words, when the economy does that, good do better. Stuart i dont know what youre talking about that i want to look at at 11, a marketing platform, game publisher. They use ai to help customers boost sales and saw a surprise in the Second Quarter and rolled out a new product and the stock is up 23 , thats in a i played presumably. No and i wish i bought it. I took a look but i missed it didnt buy because they help build on older phones, to she, thats not technology, not my American Ingenuity thing. I cant do that. I should have. Stuart , thanks very much. Thank you for sticking around. Back to the board, now 300 points. 35004 from tonight is the level. Show me the dow winners. At the top of the list is disney, two bucks higher at 89. Nike, salesforce, cisco on the list. S p 500 winners, a four and a half . Went up there, global payment and etc. Then nasdaq winners, data dog. What a great name. I was expecting to see big tech on the list but they are not there. Dow up 312point ten year treasury yield down, favorable, inflation news i guess you could call it that down below 4 on the tenure. Price of gold favorable inflation news, no impact on gold, 1953 an ounce. They. , 295 is your price. Oil keeps going up. Today its down a bit, 83 a barrel, highest level in some time. Expect gas prices to keep going up. At the moment, we got little change, 289. Average price for a gallon of regular, 3. 32, unchanged overnight but still up 30 cents from a month ago. Diesel, watch out truckers and farmers. The 2 cents overnight. 423 is the average there. Coming up, President Biden says we need to do everything to help migrants fleeing extreme weather. Rotate. Is it the responsibility of the u. S. To protect migrants who might be fleeing extreme weather and our countries . The United States to do everything it can to help people in desperate need. Stuart 2024 race heating up, candidates in iowa for the state fair, a report on that next. Eleven minutes into the trading session, really cold and improve and the. Down 335, 35400 and the nasdaq power into the tune of 145point and thats just over 1 . Solid rally this morning. Will president the candidate in iowa today about the state fair. Desantis will depend, all holding Campaign Events later on. Aisha hosni joins me, what can we expect . Who doesnt love politics with a side of federal cake the perfect mix but if this week relies on run desantis and whether or not he can convince islands after a series of Campaign Issues hes the right man for the job. In the latest shakeup, his heart is gubernatorial chief of staff and new Campaign Manager as he struggling to close in on the president trump, biggest rival taking shots. What he did wrong as he should have waited until 28 but i dont know if that would have held water because they would have figured out you do need some personality if you are going to be a politician. Trump is heading to the fair also he is starving kim reynolds as their side chat and larry elder will take care of that. Nikki haley, vivek ramaswamy. Former Vice President mike pence qualified for the first gop debate on fox both on the state fair stage today. In between corndogs and cap judging from a fried oreos, is this a make or break it, for some folks this week like Francis Torres who still not qualified for the debate and he says might drive out altogether if he cant make it. Chris christie skipping the fair setting up shop in New Hampshire instead. He held a town hall last night and with all these republicans descending on iowa, dont expect democrats to be silent. I with democrat chair only conference to contrast what she calls margaret agenda President Bidens. Will be watching. Stuart id love to be at the iowa state fair and donald trump appears, that would be something else. Thanks, see you again soon. I will caucus, five months away. Trump is running away with it. You watch the clip, giving Campaign Events to desantis like its postmortem. I dont know what to do with him, you think after seven years watching, they have a strategy. Nobody in the field knows how to go after him and he knows it hes in a position of strength. I was in the camp for a long time, a long way to go and things could change, Something Big that are happen soon for the other contenders like desantis and or scott. Stuart i do hope he appears in the debate august 23 because i want to hear what hes got to say and hes an entertaining. Stuart and its bigger than his campaign strategy, he wants to lead america again, i think you should be there. I know he has every reason not to but it would be good if hes there telling america heres where im going and heres why youre leaning toward me, you should go with me if thats what you are inclined. Stuart like him or not, the most entertaining politician today. Coming up, dont forget to send in friday feedback, who wants it all. Send your stuff to varney viewers at fox. Com. Emergency press conference, dave portnoy bought back five months after he let it go and hes here in new york city and studio and hes going to tell us about the deal. Hes walking to the state, hes striding in, hes a wealthy guy. Its like he owns the place. [laughter] will be back. Wow, you get to watch all your favorite stuff. Its to die for. And its all right here. Streaming was never this easy, you know. This is the way. You really went all out didnt you . Um, its called commitment. Could you turn down the volume . Here, you can try. Get way more into what your into when you stream on the xfinity 10g network. Entertainment sold sports back to expounder, dave portnoy for 1 dollar and hes here with me on the set in new york city. Welcome back, dave. Heres how i think it went down. Then wanted to do a deal with disney, they didnt, disney, didnt want you in the deal, didnt want your name so you took it back and then it was bought by disney for 2 billion. Didnt buy them, they are doing the deal. No, i wasnt involved in the conversation. I bought my company back for 1 dollar but right relationship. Stuart how much did you sell it for in the first place . 500 million, somewhere around there. Stuart you bought it back for a book. [laughter] i feel good, im wearing a nice polo in here. Its a good day and a good day for penn as well but a good d deal. Stuart your net worth is now but . There are so much zeros and stuff. [laughter] stuart 400 million, 500 mil million. If i sell again, he gets half of it. How does one figure out net worth . Theres a lot of big numbers and i was never america. Stuart what are you going to do with it . I bought a horse the night this happened so thats a start. I spend freely but with got the expenses, leases, ive got to run the company. Stuart what does it do . The Company Bought back, what exactly does it do . Its a media company, we do a little bit of this and a little bit of that. The big thing we had with penn, we are very regulated Industries Like gambling and probably brought challenges i know i didnt see because we like to say, i like to say what i like to say and that can cause issues and in our world before penn and now, no one can get to us, if you dont like what i say, to tough, it doesnt matter. With penn, a regulator can play games and licenses, penalties and they were doing that. We are going to go back to what we were doing. The previous 17, and i dont know the future, we are willing to adapt but i think this will for our school and chores we will be around another 20 years, 30 years. Stuart you can keep your employees and walk back into the place you read bought, it was empty and you called your employees braindead. You got some idiots there. Im not going to name names but i will rhyme them. Stuart dont. Like to me last thing like hes so stupid, they won the lottery and i dont like firing people because i have a big heart and these guys are just collecting a paycheck. You would think they beat me to the office, 9 45 a. M. To but he was in the. Your brain cant be functioning. Stuart are you going to sweep it clean . I have a big heart, i look at these guys, their families have been with me ten, 20 years, what happens if i fire them . They are too stupid to work anywhere else. Stuart i got to ask about taylor swift, a big fan. What is it about Kim Kardashian, you dont want her to attend the two are, what is the problem . Ill try to keep this brief, theres a controversy when kanye and kim were married, taylor swift had a lyric kanye kanye wrote about taylor swift and lied and said taylor gave approval. They like. They released it and it made it seemed like kanye and kim were telling the truth. Taylor said thats not how it went, thats not the conversation. Years later the full video came out and vindicated taylor. I got a lot of people saying bad things about me and lie in twist the truth so it resonates with me to people go to those links to frame somebody so since then, ive despised Kim Kardashian and then she shows up at the concert and i said should be put in handcuffs and thrown in prison if she tries that. Stuart why do you like taylor swift so much, really artist, anything else . Shes true to herself and she tells the truth and has things like when kanye stole the microphone, if you recall that, she was a young kid, nothing but a superstar, big hit and she got a lot of hate and its come full circle, maybe the biggest artists in the world so i respect shes stayed true to herself. I love the community. Stuart im interested in one thing, one bite pizza festival coming up. Youre charging 150 300 to get in and you almost sold out. 5000 tickets on sale, 100 are left. Stuart make a profit . I think we will. They do big event. My thing, i would never do it unless i have the best of the best pizza places so sallys, you name it. Best pizza places in the world are there. Stuart you are a genius and anybody who can make money on a single bite pizza you were on the show 12 years ago and you are exactly the same. Logan paul will be on this show later in the 11 00 hour. Im buddies with logan paul. Ill say hello. He was a penn stock, i tell stock visit. I have it talked to him yet, the old stock fest, a message for you. Theyll be happy. Stuart you are all right. Thank you for being on the show. You are a good man. All right, thanks to you all for being with us. [laughter] still ahead, sports fans. Pat balla, Newt Gingrich telling gop to go slow on impeachment. West Virginia Attorney general proposed powerplant rules, cocaine on the devastation in maui. His parents are there. Logan paul on his winning week with his brother and vesting of his stock. Got to get that in. The 10 00 hour is next. We are having fun