stuart: good morning, everyone. the trump trial enters if its final stage. the jury gets the case today. there could be a verdict in hours or days, hopefully not weeks. the trial is and always was political, in my opinion. tuesday the biden campaign sent actor robert deniro to make over the top statements. he said trump was going to destroy new york and destroy america, okay? more on the trial just in a moment. on the markets, interest rates are rising, and investors don't like it. the yield on the 10-year treasury moving well above 4.5%, 4.57 right now. don't expect or mortgage rates to come down anytime soon. the 2-year, well, that yields almost 5%. stock investors don't like that. 4.955 right now. the dow, likely to be down about 250 odd points at the opening bell. s&p down about 40, the nasdaq down about 163. that's a ton of red ink right there. look at oil. it reached $80 a barrel earlier, that's where it is now. don't expect gas prices the to come down. gas average as $3.57, diesel at $3.if 87, it's up onen cent. >>. bitcoin trading around $67,000 this morning, 67,7 to be precise. all right, politics. president biden and vice president harris campaign in philadelphia today. they will speak to a predominantly black college. everyone's watching to see the enthusiasm level. can the president even come close to the excitement trump generated in new jersey and the bronx? we are told the president will push his electric school bus program. israeli tanks have entered the center of rafah. biden does not appear to be stopping netanyahu from finishing off hamas, and if that pier built by the u.s. military to deliver aid to gaza has been damaged by bad weather. food deliveries temporarily suspended. on the show today, trump hatred seems to be the motivating force for the if biden-harris campaignful it's all they've got, but it's not working. liberalism in california not working. governor newsom facing a huge deficit had to cut back on liberal frames. he wants to be -- programs. he wants to be the president, but if he's running on his record, he's in trouble. wednesday, may 29th, 20 this. -- 2024. "varney & company" is about to begin. ♪ ♪ i wanna hold your hand. ♪ i wanna hold your hand ♪ stuart: this, by the way, i want a that hold your hand by the beats, the only beatles' song which they sang in a foreign language. they sang this in german many years ago, never sapping anything else -- [laughter] >> you know everything about the beats, huh? stuart: i'm a fanful i'm not the sure of the relevance, but there you go. closing arguments in donald trump's criminal trial with regard up. one with hour from now judge merchan will instruct the jury, then they begin deliberations. good morning, lauren. lauren: good morning.. stuart: take us through it. lauren: so the judge will give instructions on how the jury should apply the law to this case. that's expect expected to last about an hour. then the 12 will go to the jury room to begin to deliberate the evidence and eventually, look, heavy a got to reach a unanimous decision to convict or acquit. donald trump. if just one juror believes prosecutors have not shown that trump is guilty beyond a reasonable doubt, there could be a hung jury. but what the defense fears is what's called the allen charge. that's when the judge will tell the jury, go back, i try harder, or right? trump faces 34 counts. each one could result in a maximum sentence of up to 4 years behind bars. that's unlikely. he could go to jail or perhaps be placed under house arrest or walk clean. if either way you had a 12- hour day in court yesterday. trump did not speak, but he issued this one-word summation, boring. [laughter] that was after the 5-hour closing arguments by the prosecution against him. stuart: all right. thank you very much, lauren. the biden campaign tried a new, seemingly desperate tactic. they had actor robert deniro hold a press conference right outside the courthouse. watch this. >> donald trump [bleep] wants to destroy not only wreep, but the country. eventually, he could croix the world. -- destroy the world. this kind of government will perish from the earth under trump. i don't mean to scare you. no, no, wait, maybe i do mean to scare you. if trump returns to the white house, you can can kiss these freedoms good bye. if he gets in, i can tell you right now he will never leave. he will never leave. >> we we need karl rove with or without his white board. thank goodness he's on the right-hand side of the screen. karl, was this a good idea from the biden campaign, to is send the actor down there? >> look, i'm a big fan of him as an actor, but as a political actor, he's a disaster. this was a big mistake by the biden campaign. the people who will decide this election are going to be unmoved by these kind of charges. it wasn't just that donald trump's policies will hurt america, he wants to destroy america, he wants to destroy new york, he wants to destroy the world. that's what robert deniro said. it's not just, you know, we disagree with what he might, the policies that he might have in his second term, it is that when he goes in there, he's going to end the elections, this will be the last election america has, and he will install himself, he will never leaf office -- leave office until his dead carcass is wheeled out of the oval office. this is so over the top. think about this, what undecided voter is going to be moved by what robert deniro said yesterday? if you believe that kind of weird shift, you're already in the biden camp. the undecided voters are unmoved by this kind of language, and it was an utter, unmitigated disaster. better to have -- think about this. he's standing behind him were two officers who on january 6th fought to keep the capitol from being overrun. what if he had said these two men behind me fought to keep the capitol from being overrun while donald trump sat for 187 minutes doing nothing, and this is -- americans ought to think about that when they go to vote. in that would have been far more powerful particularly in the minds of the undecided voters who don't like either one of these candidates than what was with offered up yesterday. stuart torte i want you to listen to peter doocy's education change with karine jean-pierre. roll that tape please. >> reporter: are you guys at the white house in full-blown freakout mode in. >> what are you talking about? >> reporter: there's a politico story, it sounds lightening democrats -- like democrats -- biden's stubbornly poor polling are creating a freakout. >> again, being mindful, i'm not going to comment on 2024 election. ly say this, the president has never forgotten where he come -- where he came from, who he is. he understands what the american people are going through as their sitting around the kitchen table. stuart: all right, karl. are the democrats really freak being out here as politico suggested? >> well, i think they have been behind the scenes deeply concerned about the progress of the biden campaign for months and, yes, they are freaking out because it's not getting better, and the things that the president's campaign are doing like yesterday's stunt are not helping. look, take a look at the polls. in the battle ground states, the six battleground states, biden is behind in all of them. in the sun belt states of nevada, and georgia, trump leads by outside the margin in the real clear politics average. in michigan, wisconsin and pennsylvania, it's a different story. the great lakes states are razor thin. two of them are less than one point, .5 of a lead, half a percent, in michigan, 2 points in pennsylvania. if biden holds on to those three states and wins everything else that he won last time around, he wins with 272 electoral votes, 2 more than he needs. but it is a tight race, and the democrats are freaking out because they know what they're doing is not working. stuart: they are, indeed, freaking out. karl rove, thanks for being with us. i know we'll see you a lot this year. it's an election year. all right, i want lauren -- i need you on this. robert deniro clashed with trump supports at the press conference. [laughter] what did he call trump supporters? if. lauren: gangsters. how ironic. so deniro is, like, the face of the biden campaign yesterday, and i don't think he expected the pushback that he got in new york. watch here. [bleep] and [bleep] you. >> you are gangsters. you are gangsters! >> [inaudible] [bleep] [inaudible conversations] >> you're filthy! you're a nobody! you're trash! you're done! you're done after this -- lauren: wow. if he's 80 to, robert denear row -- deniro, and to me, that was very much reaction by if an old man telling donald trump and his supporters to get off my lawn, or right? stuart: a bit like that, yeah. lauren: the new york post coverage today, raging bull, yep. side show bob deniro goes ballistic stumping for biden outside the trump trial. stuart: we'll see. let's get back to the markets, not back to the markets, to the markets. mark tepper is with me for the hour. why are interest rates up so much today? >> stu, they always have said the bond market is smarter than the stock market, and i think that's exactly what you're seeing happen right now. the stock market continues to believe rate cuts are in the future. the bond market, however, is say, huh-uh, inflation's not under control, there's no rate cuts in the future. this higher for longer thing that the fed has been talking about, that's what's actually going to happen. and that's why you're seeing rates higher. the one problem zone you need to watch out for with the 10-year is as as it approaches 5%, that becomes a big issue for stocks. and we saw that, i think, october and november of last year, we approached 5%, and we had quite a sizable correctioning. is so just kind of keep an eye on that 10-year. stuart: okay. do you think nvidia will overtake apple in market valuesome. >> it could happen today. they're less than 4% apart. i could see apple down 2, nvidia up 2. that could happen very soon. i made this call at the beginning of the year when nvidia a was $1.3 trillion, apple was $3 trillion, that it could happen by the end of this year. it might happen by the half point of this year. i think it's highly likely that by july 1st nvidia has overtaken apple. i mean, it's really a matter of out with the old, in with the new. lauren: it's not just apple, nvidia with could get microsoft, and it could hit $4 trillion valuation. that's according to dan ayes at wed -- dan ives at wedbush. >> i agree. everyone said it couldn't go up 2000% like last year -- 200%. stuart: thank you, mark. president biden will hold a campaign event in philadelphia today. he's trying to shore up support with black voters. will he get the same reception trump received in the bronx? how about the enthusiasm gap? joe concha addresses that. israeli tanks closing in on rafah. will biden allow net ankara hue to finish off -- netanyahu to finish off hamas? congressman pat fallon on to that next. ♪ ♪ stuart: 15 minutes to the opening bell, make that 14. dow's down 260, nasdaq's down 175. you know, that tear pier built by the u.s -- temporary pier has a already been damaged by rough seas and bad weather. central command has suspended aid shipments. trey yingst joins us. do we know when it's going to be fixed, treysome. >> reporter: yeah, stiewrkts we don't know exactly. we do know the united states is temporarily suspending aid to gaza by sea after bad weather conditions damaged that floating pier. the $320 million american project is going to take some time to be repaired. it is expected to be out of commission for at least a week. the incident started over the weekend when the floating portions of that pier were being moved and one piece bloke broke away and -- broke away and floated ashore. it continues when it was damaged by high seas and bad weather conditions. the deputy pentagon press secretary spoke about the situation yesterday. >> if you want to characterize it as a failure, i leave it to you. what i can tell you is that we don't control the weather. there was an unfortunate, unique if pattern of events with high seas and another storm that came in that caused it to become with inoperabling during that time. you better believe that u.s. central command forces are going to do everything in their power to make sure that this is back operational as soon as possible. >> reporter: focus on getting aid into gaza comes as a we are learning more about the incident in rafah if over the weekend that left dozens of palestinian civilians dead. the israeli military says they used two small bombs to target senior hamas potentials in a precision strike -- officials. an investigation is underway, but the military is determining if rockets or weapons were stored in that area and could have caused a secondary explosion and and subsequent fire. today israel's national security advisor said that the combat operations inside gaza could continue for up to seven months. stuart? stuart: seven months? all right, trey yingst, thanks very much, indeed. congressman pat fallon, republican from texas, joins me now. israeli franks in central rafah -- tanks in central rafah, is bind allowing netanyahu to finish off hamas? >> i think netanyahu's going to finish off hamas regardless of what biden had wanted. we're about 35 times the population of israel, imagine if 40,000 americans were killed by terrorists, an additional 7,000 being held hostage, we would go to war. and that's exactly what what israel's doing. they have a right to exist, they have a right the defend themselves, and i think joe biden's two two-state solution is pennsylvania and michigan, quite frankly. stuart: has a biden lost his party over israel? >> there's definitely a huge divide. you see it in the polling and that the they've about half the democrats support israel and half really want a ceasefire and are sympathetic to be hamas. it's remarkable that we're actually saying that, but clearly the republicans are now the party of, you know, that israel can rely on. stuart: there's no dissent within the republican party about finishing off hamas. no dissent about withdrawing from rafah. you're gung ho to win. is that accurate throughout the party? >> i think so, yeah. any serious member of the republican party. and you know what when in the israelis can discuss a ceasefire when they have their hostages back. and gaza, this is all -- all of this lays at the feet of hamas because they're the ones that are hiding behind civilians, they're the ones that make sure they have ammo dumps in neighborhoods. they started this war and, unfortunately, in every war there are innocent civilian casualties. normandy's coming up, the 80th anniversary, we killed 19,000 civilians during that campaign. you know what? that was not the united states' fault, that was hitler's fault for starting i in the first place. stuart: well, we just with had a report that a maybe military operations in and around rafah will go on for another seven months. would your support be maintained for seven months? >> as long as it takes for, you know, hamas is an evil terrorist organization bent on the destruction of israel, so they're not a party that the you can seriously negotiate with over the long term. but those seven months, if it does last that long, it's really going to, to i think, harm the campaign -- or the campaign of joe biden because americans think that pretty much by a wide with margin that a trump would handle that situation far more effectively than joe biden. stuart: got it. congressman pat fallon, republican from the great state of texas, thanks for joining us. see you again soon. >> see you with, stuart. stuart: jerry seinfeld if got emotional when discussing his trip to israel. lauren: he's been loudly pro-israel, and he got choked up in an interview with barry weiss of the free press when they spoke about that trip. >> you were in israel -- >> yes. >> -- since the war started. how was that trip? >> the most powerful experience of my life. >> really? >> sure, yeah. enter why? -- >> why? >> you know, you just -- [no audio] you know. >> yeah. lauren: he couldn't finish his thoughts. he was obviously affected and and choked up by it and held back tears. look, when he was a teenager, he lived and worked in a kibbutz. he, as a i said earlier, really supports israel. he's been call called a nazi, he's been called a genocide support during his shows. and, remember, he gave this beautiful commencement address at duke university, and some studentses even walked out. andhe says -- he's trying to be realistic. like, i get your rage, but it's so misplaced, you're directing it at young people that are protest at the wrong targets. stuart: well said. check futures, please. we see plenty of red ink. 2700 points down for the -- 2770 points -- 2700 points down -- 270 points down for the dow. the opening intel next. ♪ ♪ ameritrade is now part of schwab. bringing you an elevated experience, tailor-made for trader minds. go deeper with thinkorswim: our award-wining trading platforms. unlock support from the schwab trade desk, our team of passionate traders who live and breathe trading. and sharpen your skills with an immersive online education crafted just for traders. all so you can trade brilliantly. what will you do when the power goes out? 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are you worried about this? >> i am a, stuart, but it'd have to go a lot higher, and you know the 10-year being the benchmark, i think, it's going to have to get above 4,.75 for investors to start to get worried. if pit heads two towards 5%, this rally's going to see some kind of a correction. we're not there yet, and we've been here before. i do expect higher for longer, but i don't think this rally is going to be impeded by rates moving up just this little bit. stuart: this is a temporary thing. are we going if to get back on track a little later in the year? >> earnings have been great, stuart. we were in the second leg of the new bull market, and i think we have a lot higher to go. i mean, we're not just driven on the a.i. narrati
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