Nvidia. Premarket the is stock is Holding Around 9950 9550 a share. It is up 990 this year. 90 this year. Todays numbers will have a big impact, watch for some fireworks later on today. Politics, another 7 billion worth of student loan cancellations, 160,000 borrowers get a break. This is widely seen as another attempt to buy the youth vote. Serious bad news for the biden campaign. A reuters poll shows his Approval Rating falling to just 36 , lowest in 2 years. On handling the economy, trump is 10 points ahead. His campaign, bidens campaign, desperate to change his image, but theyre having a hard time. Today his staff had to make nine corrections to the speech he gave to the n if aacp in detroit. To the markets, a Miles Per Hour pullback for stocks Miles Per Hour pullback for stocks minor pullback. Bitcoin trading around 70,000 per coin. The precise quote is wait for it there you go, its at can 69,750. Interest rates little changed, the 10year is up a little bit, the 22year around 4. 86, 4. 87 to be precise. Gold going down, but its holding above 240an ounce 2400 an ounce. Oil at 77. Gas actually going up one cent, regular at 3. 61. Diesel, no change, 3. 90. All right, on the show today the fbi is authorized to use deadly force in the raid on trumps home at maralago. They were looking for documents trump took from the white house. The fbi say they did nothing unusual. Senator Elizabeth Warren goes after big food. The senator demands a task force to investigate if Grocery Store chains which she says are engaged in price fixing and price gouging. This is how the heft explains inflation. Its all the fault of of big pharma, big oil, big food and big business. We might take issue with that a little later. Wednesday, may 3232 end, 2024. Varney company is about to begin may 2 22nd. And a im free, free falling stuart im singing. I love the song. The the great tom petty as we look out on sixth avenue. He was great. Stuart the he was. Definitely missed. Lauren its an uplifting song, to me, but the news is not, of whats free falling. Target shares. [laughter] stuart here we go. Weve got to start with target after that introduction. All right, lauren, take us through the numbers, nod not good. Lauren there is weakness in discretionary spending, think home furnishings, and theyre lowering prices on 5,000 essential items like toothpaste. So where does the profit come from in targets latest sales fell3 , their samestore sales fell 3. If 77, and target expects them to be flat to up 2 on the year. So that is cutting a prior forecast. The consumer is weaker, point blank, and there is this bifurcation in the market. If you look at businesses, the ones that a cater to a lower income consumer like fast food jack in the box, for the year that stock is down 35 . Chipotle, higher income if consumer, up 38. Ditto for retailful target up 999 this year, but 9 this year with but walmart is up 24 year. Stuart tells you a lot about the state of the consumer, does it not . Thanks, lauren. Lets get to politics. Democrat strategist James Carville wants President Biden to stop complaining about the medias coverage of his age. Watch this. I do think the president has to deal , the age issue is suffocating him. He needs to bring up that hes only 4 years older than trump. Hes got to turn it around. They need to quit complaining about the times covering his age. Thats a waste of time. Dont do that. Talk about how youre going to change peoples lives and if make it better. Stuart all right. Todd piro with us this morning. What do you make of that . I agree with everything he said there except that biden needs to point out that hes only 4 years older than donald trump, because the number is irrelevant. Its how he behaves. Stuart right. I apologize, i probably should have checked with the price, some of the wild things that joe biden said to the n if aacp. When i was Vice President , things were kind of bad during the pandemic. He was not Vice President. Im humbled to receive the organization. It was an award. Its truly in lauren that was on telefronter. That was the on teleprompter. Stuart nine corrections. Thats three of the nine. He then went to talk about after i signed the [inaudible] into law. It sounds like were joking, but were not. The leader of the free world needs to be able to form a cogent sentence, and the fact that he cant is resonating with people because they know how important the position is, stu. Stuart you heard this one, a new poll if reuters, his Approval Rating, the president s Approval Rating has fallen to just 36. That is the lowest in almost two years. You talk better when you have an opportunity to talk. Unfortunately for him, things dont get better with age unless theyre a wine. Except for you, stu, but the overall point is he is not getting better, he is getting or worse. And thats why the decision to debate was made with his heart, it wasnt made with his head. He basically wants to have a battle with trump because he hates trump. He is going to get shellacked by it no matter, arguably, the medications he may take to put himself in a better position. Its going to be bad, stu, because he cannot hold up when he doesnt have a prompter. And and unlimited resources. Stuart lauren wants to get into this. Lauren i almost feel like trump should do very little, not be the attack dog and let biden stuart implode . Lauren basically. Nine errors when hes on teleprompter . Just let him show what hes made of. Great point. Stuart Donald Trumps going to hold a Campaign Event in the south bronx tomorrow night, part of new york city and, lauren, that venue where its going to be, thats either adjacent to or very close to lauren very close. District 14 and she admits to the problems. Watch here. How do you think hell be received . I mean, im not going to be surprised if hes going to bust in a lot of his pals bus in a lot of his pals from long island and jersey and wherever. I hope they pay a nice, hefty congestion tax. I hope that they contribute to the revenues of knight and fund can of new york city and fund our Public Schools through the their tourism to the belongs. Lauren schools not good, tourism down and then shes insulting trump voters, but is she willing to accept some of those voters might be warming up to a republican . Trump . Stuart she was nonchalant ther lauren completely. Stuart dismissing it. Lauren because she won her districtly by 70 of the vote is. But theyre not taking in into account that people might have changed. Theyre up for reelection in november. Are they going to pull their same numbers . I doubt it. Theyll win but not by that much. Sorry. Stuart we love politics and so do i. You know, im very interested in money as well. The markets this morning, this is before the opening bell, were down 90 on the dow, up a tiny fraction on the nasdaq, thats it. Please show me nvidia because they report after the closing bell this afternoon. This is the big one. Probably of the year, actually. Nvidia are at 9577 right now. Michael lance berg joining us, he covers this. Do you think nvidia is still undervalued at 95 to 950 a share . I do, stuart. If you look out a couple years, theyre going to make 3540 a share, it certainly is. Im looking at the growth rate of nvidia, lets say its trading at 30 times, 32 times next years earnings and its growing at 30, 40, 50 , the s ps trading at 222 times and its going 22 times and its going to grow at 8 . Im not saying buy it today, but wall streets undervalued the stock for a long time. Stuart so where dowpg its going . Its 957 now, it reports in a few hours. Where to in the next couple of months . If. Couple of months, i cant tell you the couple of months. I just look at the trend and say, okay, if theyre going to make 25 a share, 35, 40, why is it not a 12, 13, 1400 stock . Stuart okay, so should nvidia be a base holding of anyones portfolio as a almost investment . Buy it and hold that thing . What do you say . Absolutely. Ined vid ya now has nvidia now has become like this next five years the apple where everybody owns it. I think you need to own it. It basically is the benchmark of a. I. , all things are going to sprout from it. I think you also need to own other a. I. Stocks, but nvidias one of those Core Holdings like apple was five years ago, i think nvidia is now. Stuart okay. Big picture for a second, put nvidia aside. You say investors should be prepared for higher for longer Interest Rates and inflation if. That sounds like a big negative to me. Well, unfortunately, i dont know if its negative if or positive. Its t truth. If weve seen powells been talking about innations going to come down. Inflations going to come down, it hasnt. Were seeing it reaccelerate in certain parts. Commodity prices are going up, Homeowners Insurance prices are going up. In fact, actually, Core Services number, the highest its been in 12 months this last month if over 5 , shelters going up. So its the reality. Investors need to look at that and say, okay, where am a i, where do i need to invest for the market i have, not for the market i want, and you need to have some things that are going to be there for inflation. Stuart okay, got it. Thanks very much, michael. Were just getting this coming at us, the rnc headquarters in washington, d. C. Have been evacuated. The building is on lockdown. Fox has confirmed that hasmat is on the site. Well bring you details as we get them. New documents revealed the biden authorized the use of deadly force during the fbis raid on mar rah a lag bow mar a rah a lag go. Ireland, norway, spain spain, theyre recognizing a palestinian state. Maybe israels winning militarily, but is it losing the diplomatic battle . Retired Lieutenant General keith dell cog Keith Kellogg gets into it next. Trading at schwab is now powered by ameritrade, unlocking the power of thinkorswim, the awardwinning trading platforms. Bring your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies. Tailor the platforms to your unique needs with nearly endless customization. And track Market Trends with uptotheminute news and insights. Trade brilliantly with schwab. Inside every splenda product is a mission. To help people live happier healthier and longer lives by making it easier to cut out sugar. From our factory to our stevia farm, splendas team of over 2000 individuals are dedicated to helping people live their best lives. Taking pride that everyday millions say i use splenda. and now sweeten drinks wherever you are with splenda zerocalorie liquid sweeteners. Try all three. Available in the baking aisle. Stuart repeating this, the rnc headquarters in d. C. Has been advantage kuwaited evacuated. Fox has learned that hazmat if trucks are on the side with officers wearing uniforms identifying them as bomb techs. All thats been confirmed. Well bring detail it is as we get them. Check futures, please, about 13 and a half minutes to go til the opening bell. Dows down 800. That 320 million pier if off the coast of gaza facing major with security challenges. Trey conviction in tel aviv. Trey yingst in tel aviv. With what security challenges, trey . Reporter yeah, stuart, good morning. Nearly 230 days into the war, there are major aid distribution challenges making this job nearly impossible inside if gaza. We do know this 320 million pier that was constructed off the coast of gaza a by the americans is now operating, and since the project became active last week more than 50569 569 tons of aid have been delivered to gaza. However, that aid is sitting at a staging area due to distribution issues. Right now new pathways for if aid distribution are being exe motheredded by both the u. S. And the u. N. There have been discussions between the u. S. , israel, United Nations as well as joint efforts to identify alternative routes for the Safe Movement of staff and cargo. Reporter the u. N. s World Food Program is pushing back against the characterization that money of of the aid has been distributed but does acknowledge that much of it was intercepted by hungry Palestinian Civilians including 11 trucks that were stoppedded on their way to a warehouse this week. [inaudible conversations] translator we came here with the hope that the pier, we will get the american aid. We have waited from 1 00 until thousand. We are waiting for the american aid, but we didnt get anything. Pleasure. Reporter its not just northern gaza suffering from these distribution issues. The u. N. Announced this week they are suspending aid distribution can in the southernmost city of rafah pa amid security concerns. Stuart. Stuart thanks, trey. Ireland, spain and norway have announced that they will recognize a palestinian state. Thats a quite a break. Retired Lieutenant GeneralKeith Kellogg joins me now. Would it it be true to say that israel is winning militarily but losing diplomatically and becoming increasingly isolated . Yeah, stuart, thanks for having me. Lack, this is a problem thats actually helped by our inaction, President Bidens inaction, reaching out to allies saying dont go there. It makes no sense to have a palestinian state. Its not going to happen. You look at taiwan which is a democraticallyelected country and youve got 23 million people, and we dont recognize them as a state. Then you go to palestine which has less than 2 million, is governed by a terrorist organize, hamas if in gaza, and then you go if to the west bank and its also a run by a terrorist organization, the palestinian front, and then to you go you want these people to actually have a state . It makes absolutely no essence. And, oh, by the way, the reality on the ground is its not going to happen. The israelis wont let it happen, and the allies around that air a lawyer arent going area arent going to let it happen as a well. I think the president should pick up the phone and say that is the really a dumb move, and maybe we ought to rethink our relations with you as well because what you are doing, you are saying pointblank you are recognizing a terrorist state that is led by a terrorist government, and its the knot going to fly. Its absolutely foolishing stuart. Stuart lets move to to the military side of things. Are the israelis about to take rafah . Yeah, i think they are, and i think its a good idea because theyve got to close it out, basically. Theyve got to reduce the hamas if battalions that are in there, and this is only four really left thats there. Theyve not to go in, and if theyre already in there. And theyre doing, honestly, a pretty good job, stuart, of careering the area clearing the area. The next steps going to be what happens next. But you asked the question are they actually losing fighting, winning the war but losing the Public Relations side of the house, and your answer is, yeah ors its kind of on the fence. Thats where i go back and say this is where the United States needs to stand up to the whole world and say were with israel, full stop. Dont go any further than that. Just tell their allies, put them on notice, that thats not where were beginning to go in recognizing a palestinian state. Theyve got to finish the job militarily, and i think theyre well on their way. The hard part is what happens next because really all this is going to be is the end of the beginning. Then the followon and i constitute gaza as well. Stuart you with dont expect President Biden to pick up the phone and call the prime ministers of these countries and say it aint gonna happen that, the whole worlds got to stand firm with thats not going to happen is it, general . No, stuart, its not. I know thats not going to happen. Its what probably President Trump would have done, he would have picked up the phone and said were going if to talk this thing through stuart so it just ebbs tends [inaudible conversations] youre now talking about a palestinian state, youre extend thing the problem. Wishful thinking, yeah, theyre going to have a state, that extends the problem, doesnt it . General, im sorry, were with out of time. I do apologize. I let myself run on here. General, come back and see us again soon, thanks so much. Texas senator ted cruz, todd, things got kind of tense, didnt they . Yeah, they a did. I think we should just roll the tape. Take a listen. No one, starting with President Biden, has done more to make sure they have what they need to defend themselves from hamas to deal with the threat all due respect no, thats simply wrong. Thats ludicrous. That is ludicrous. Why have you cut off weapons to israel then . If this administration, you and President Biden, funded the october 7th attacks by flowing 1000 billion to a homicidal, general sidal regime that funded those attacks. That statement is profoundly wrong. Its a disgraceful statement. You funded our enemies and you undermine our friends, and the world is much, much more dangerous as a result and americans are at greater jeopardy because of it. There you have it. The munitions package if hat Biden Administration pausedded contained 1800 large scale bombs and 1700 smaller because they were concerned those bombs could be used in denselypopulated areas in gaza including after pa. Stuart quickly, check futures, a little bit of red ink on the screen. The opening bell is coming up and, look, the there you have the dow down 84 points. Thats in advance of the opening bell. First, though, take a look at this, please. Fleet week kicking off in new york city. The first ship is coming in right now. That is an Amphibious Assault ship from norfolk, virginia. Aint she beautiful . When enamel is gone, you cannot get it back. But you can repair it with pronamel repair. It penetrates deep into the tooth to actively repair acid weakened enamel. I recommend pronamel repair. With new pronamel r