Transcripts For FBC Varney 20240704 : vimarsana.com

FBC Varney July 4, 2024

Year. It has buzz. I guess this is buy on the rumor, sell on the news despite if nvidias dazzle. The stock will open lore, down about 20. Dont know know its going to close. Politics. Donald trumps lawyers say it will be impossible for him to come up with the near if half billion dollars in cash he needs by monday. If he cant raise the money, he cant appeal. The right to appeal is fundamental. To be denied because you cant raise a half billion fast is a perversion of government. A. G. Leticia saw james says if he doesnt come up with the money, she will seize and sell hiss assets. To the markets. The fed meeting starts. The big question is when or if rates come down this year. Dow down 30, nasdaq down 100. Bitcoin down as well. Youre looking now at 63,000 a coin, just a week ago it was 73,000. Interest rates at elevated levels. The 10year treasury at 4. 30, the 2year, 4. 72 last time i checked. Yes, youre now at 4. 700 on the 2year. The price of oil, 82 per barrel and moving up. Well, were down about 1 cent, but its been moving up earlier. Regular gasoline up 2 cents at 3. 48 and diesel up 2 cents at 4. 04. On the show today, trouble in the biden cam rain. The rivalry with barack obama getting out of hand. The speculation is that obama is undermining biden and trying to ease him out before november. What was obama doing visiting britains Prime Minister monday . Its primary day in several states. The most important race is in ohio where three republicans are fight it out. Key question, trump has endorsed bernie marino. What happens if marino loses . And coming up, this is special, Emmy Awardwinning mentalist oze perlman. Every time he comes on, he blows us away, and hes on the show again today. Youve got watch that. Its tuesday, march the 19th, 2024, two days after st. Paths. How you feeling now . Varney company is about to begin. Im coming up, so you better get this Party Started stuart this is the pink. I know that because the producers just told me. [laughter] thats a slightly different shot for sixth avenue. Maybe a bit lower down. Lauren okay. Slightly more. Stuart we adjusted it. All right, lets go. Nvidia has kicked off its a. I. Developers conference. This is a really big deal. Lauren lauren is it getting the Party Started though . Look. Stuart not exactly. Down 20. Those producers didnt get this one right. Lauren buy the rumor, sell the news. There its day two of their meeting, their fourday meeting week today, can and this isings well get some more answer as on the new chips that they unveiled. Stuart i warrant to know about the new chip lauren blackwell. The ceo of nvidia call called it a very, very big gpu. Its 30 times faster than the current chips. Far more energy efficient. Itll be available later this year. Ubs says itll cost 50,000. As i said, today is day two of this a. I. Woodstock event, and investors will get more detail on the transition to these new chips. Why the stock under pressure . They need to tell the financial world that theyre meeting with today that they have the horsepower to maintain their lead over am if d and the other chipmakers, so theyve got the goods. Will people buy the goods when theres more competition. Stuart the stocks down, but its exceptionally volatile. I dont expect it to stay down 19 all day. Itll be all over the place, presumably. We shall see. Thanks, lauren. Turning now to politics. The race to watched today is Ohios Republican Senate primary. Trumpbacked senatorial candidate Bernie Moreno up against senator matt doe dolan who is backed by governor mike dewine. Molly hemingway, what happens if trumps candidate loses . Well, this is a very close race in ohio, so that could happen. Moreno is up in the polls a little bit here, so he might be able to built off. But more than anything, i think the big picture for 2024 is that the senate feeds to have better members in pit needs to have better members anytime, and thats on both sides of the aisle. Its been a very ineffective senator for the country in terms of economically, Foreign Policy or other big issues. Whoever Ohio Republicans pick, they will also have a tough race in the general, and it will dictate a lot about how well things go in the future. Stuart next one, mollie. It seems we have a rivalry between President Biden and barham massachusetts according to axios with concern barack obama. Biden often a brags the his staff about a doing better than his predecessor saying, quote, obama would be jealous, end quote. Obama met with britains Prime Minister, richie sunak, yesterday. Is obama undermining the campaign . Its always been weird how involved barack obama is in politic, never leaving washington, d. C. After his term in office ended. And i think he wanted, this biden presidency to be his third term, a continuation of what he did. It has been that in many ways. He has no right to be upset. The problem is that just as it was during the barack obama presidency, americans dont feel as good about whats going with on as barack obama did. The economy was struggling during his e presidency, and it is once again now. Foreign policy was something of a mess, ors and it continues to be. And so i think hes upset that joe biden is not doing a better job with handling the legacy of the obamabiden presidencies, but thats just a reality that happens with these the policies. Stuart do you think barack obama in the background with, fairly quietly, is trying to ease biden out before no . November . I think all smart democrats are concerned about the situation. Obviously, President Biden has horrifically low Approval Ratings and the track record of his policies is not meeting with approval. The problem is hes a very difficult person to oust. He doesnt want to go anywhere. His Vice President is even less popular than he is. There arent a lot of good alternatives. Its very difficult to get rid of them. But i would remind everybody, you know, barack obama had a key role to play in getting biden the nomination. Obviously, he didnt want biden to run immediately after a his presidency ended, but he really helped him in 2020, and so he will be involved in whatever they do to fix the mess theyre in. Stuart its a mess. Mollie hemingway, thank you very much, inkeyed. See you again soon, i hope. With the white house was pressed on the report that biden lashed out behind closed doors about his slipping poll numbers. What was the response . [laughter] lauren yeah. This is from the National Security advise everything jake suggest. Van. He denied that biden was anxious or ang ally ant those poll terml numbers. Watch here. Reporter theres a report that when President Biden was told his handling of the war between israel and hamas was starting to affect his poll numbers, the quote is he began to shout and swear. So when he does that, is he shouting and swearing about netanyahu or about hamas or about his poll numbers . This is the when did you stop beating your spouse question, because i dont think he ever did that. Well, you used that as a the principle of your question, which is when he does that. Ive never seep him do that, shout or swear in response to that, so from my perspective, that particular report is not correct. Lauren just odd, right . An odd parallel to bring in, in such a setting. I mean, if i were jake sullivan, i would have said, yeah, hes really mad. Hes mad about these poll number, and hes trying to change them which is why hes going to these swing states. Stuart and hes forceful. Lauren the state of the unii dont thinker jackedup joe stuart you stole that from lauren from sean hannity. Stuart everybody did. Check futures, please. Theres a fed meeting starting. Were down on the nasdaq, but that may be in large part because of nvidia. Nasdaqs down 100 points at this stage. David nicholas watching the market for us this morning. David [laughter] are you trying to persuade me to buy an Airline Stock . Because youre touting delta very heavily, and ive never bought an Airline Stock in 20 years. Stuart, before you roll your eyes about another unProfitable Airline, i think delta this is an atlantabased company is one of the most undervalue ised, underrated airlines in the sky today. The first numbers to report next month, but with a 5 operating mar jinx or they may be the only Profitable Airline in America Today went we get earnings next quarter because managers happening in the economy. This happened postcovid. Spending on travel is growing at 23 above gdp. And what that shows us is, stuart, americans are placing a premium on travel. I think this trend continues, and i think delta is the beneficiary of this extra spend. Stuart, its a buy for me. Stuart wait a second. What is delta doing so right that the others are doing so wrong . Heres one for you with, stuart, i think youll like this. Deltas one of the only nonunionized airlines. Their pilots are part of a group i dont thinker but their employees are nonunionized. Delta that treats their customers well, but they treat their employees extremely well. When you do both of those things, stuart, profits follow. So i think thats whats happening under the surface. Stuart do you have a price target for delta over the next the months . I would say 55 a share which is about a 20 upside. So its a good time, i think, to get in, before earnings. Stuart quick question. Many of the guests of this program the last few days have said there wont be any rate cuts from the fed this year. Where do you stand on that . Well, stuart, i think thats right. Credit is flowing, unemployment is low, inflation is stubborn. But heres the problem, the fed is political. I hate to even say this. You want to seem that its separate and distint, but the fed distinct, but the fed is political. I think you get a consistent in june. I a cut in june. This is nuanced, stuart, but if the fed waits til july, thats going to seem political. The fed is political, but they dont want to look political, which is why i think you get a cut in june, stuart. Stuart got it, good thinking. See you again soon. Coming up, our own Edward Lawrence pressed the white house on when biden will hold his next press conference. Roll it. Reporter when will the president hold another News Conference so we can ask a question of him without having helicopter noise or jet noise in the background . I dont have anything to share. Obviously, the president , as you were just saying, the president takes questions pretty regularly, enjoys having engagement with all of you. I dont have a press conference to lay out for you at this time. Stuart wondering if we will ever have a full scale press conference. You know, its rather risky for the president , isnt it . Jack brewer, hes got close ties to haiti. I want to know in the chaos over there, are they emptying the prisons, and are those folks going to come here . Hell answer the question for us right after this. Meet ron. Ron eats, sleeps and breathes hoops. And theres not a no look pass, double double, or buzzer beater he wont wax poetic on. Ad nauseam. But oh how he can nail a Software Solution like the best high screen pick and roll youve ever seen. You need ron. Ron needs a retirement plan. Work with principal so we can help you help ron with a retirement and benefits plan thats right for him. Let our expertise round out yours. [speaker] at first, just leaving the house was hard. [speaker] but Wounded Warrior project helps you realize its possible to get out there [speaker] to feel sense of camaraderie again. [speaker] to find the tools to live life better. [narrator] through Generous Community support, weve connected warriors and their families with no cost physical and Mental Health services, legislative advocacy, career assistance, and life skill training for 20 years, and we are just getting started. Stuart well start with bitcoin. Last week it was 73,000, right now its 63,002. As for futures, its tuesday morning. A little bit of red especially on the nasdaq, but its not that serious is. And theres this the state department is racing to evacuate a near 1,000 americans stranded in haiti. Bryan llenas is with us. Actually, hes in the Dominican Republic right there. Whats the latest, bryan . Reporter hey, stuart. Well, yes, the state department saws it is about a thousand americans who have reached out seeking to be evacuated from haiti. They say the situation is 234r50ud, and we are work on new evacuation options from the capitol. Behind me is the border into haiti from the Dominican Republic. Those are all a haitian migrants standing there waiting to get in. This is the a huge commerce opportunity for them to be able to come and go from the Dominican Republic. Yesterday a dozen people were killed in the capital of portauprince when gangs launched attacks in two upscale neighborhoods in haiti. The airport in portauprince is under gang control making airplane evacuations difficult to um possible. So now the u. S. Embassy says its working on options to get americans out of haitis capital and to the Dominican Republics capital. Project dynamo, which rescues americans, tells me helicopters have been the preferred method in getting people out. Traveling by land through gangcontrolled territory is also dangerous. In fact, a charter flight organized by the u. S. From cap haitian over the weekend was a 6hour drive from portauprince and was mostly empty with just over 30 americans. There are also concerns from American Parents who are in various stages of adopting children from haiti who have been displaced. Yesterday we were at the binational market here in the dr which is open several days a week to thousands of haitians, and we spoke to some of them about the horrible conditions back home. Translator i want the inter, National Community to collaborate to help haiti deal with its biggest problem, the insecurity. We want to work but theres nowhere to work. I dont have a house. I live in a room with six children. The father of my kids died. The gangs rape, kill and kidnap children. Reporter stuart, many of the haitians we spoke to say they fully support International Police force led by kenya to come into haiti and fight the gangs. That police force is on hold, kenya a says, until a new government is in place. Stuart . Stuart bryan, thank you very much. Jack brewer joins us now. Jack, you have close ties to haiti. Are they im told that theyre emptying the prisons. And my question is, are those people going to end up coming to america . Its highly likely, stuart. Unfortunately, theres about 4,000 individuals let out of the prisons. These are some of the most horrific people that you can ever imagine, and they will end up at our border, stuart. Theres nothing that that we can do about a this. We currently have a team on the ground, and you heard that a theres a thousand americans being evacuated. Our organization is helping to lead about 107 people right now as we speak to be sack waited evacuated. Ive been up all night working on those logistics from the ground. This is real. This is dire. You saw those numbers. I mean, we have dear friends and close allies of ours who have overnight held off these gang members who are trying to break into their homes trying to steal everything that they have. There have been a number of casualties. It is a warlike situation on the ground right now in haiti. Stuart i just want to ask, what happened to the billions of dollars that were pumped into haiti after the 2010 earthquake . Where did that money go . If. It went into the hands of these same criminals that are now running the country. You have to understand that that these are massive criminal organizations that are funded through sex trafficking, through major Drug Trafficking rings that go through haiti. So these gangs are well funded. Unfortunately when the clintons oversaw 13. 5 billion coming into haiti, this money was misappropriated. It was put into different places and given can to big organizations and never really touched the that haitian people. Think about it, stuart, from a financial perspective the gdp in 2010 in haiti was just over 10 billion. That country received, excuse me, 13 billion. So over 120 of their gdp. Have you ever heard of a country receiving over 100 of their gdp at one time and still its not rebuilt . Stuart okay. You dont see any infrastructure, no schools. Its ridiculous. Stuart all that money failed. What should or america do now . Now its tame to take intervention because, one, we have to secure our own borders. So to do that, we need to have a presence in a haiti. We cant sit back and wait for kenya. We need to go and secure north, and then from the north we need to start to put in place a core of engineers corps of engineers. Our military can wipe out these haitians in a matter of 48 hours. We have enough haitianamerican military men, stuart, that have a vested interest in this country that could go in there and and completely wipe out these thugs. Its time for us to secure our own border, and we do that by being smart about going to haiti. And joe biden getting off his hands. If this was ukraine or another country, we would have a totally different response to this humanitarian crisis. You have over 4 million haitians that are going to starve to death if we dont do something about this. Stuart is your organization handling, what, 10 of american evacuations . If i mean, theres a thousand people, youre handling 100 . 100, over 100, and its its growing by by the day. We need support, stuart. If anybody wants to help us with this crisis is, visit the jack brewer foundation. Org. Stuart, i dont get paid money ooh too this, man. To do this, ive been in haiti for two decades. We have the logistics on the ground. Were able to move these people out. More importantly for the long term, we want to establish opportunities to field these starving in children. No matter what we think about the politics if haiti, no kid should have to starve to death. And right now we have kid

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