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tv   Varney Company  FOX Business  May 7, 2024 10:00am-11:00am EDT

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stuart: the producers, the rolling stones playing most days. this is a beautiful day in new york city, 75 °. sunshine on sixth avenue. it is 10:00 eastern. the dow is up 80, nasdaq down 13. show me that we 10 year treasury yield. it's important to investors these days. the yield is well below 4.5%, something of a plus. the price of oil $78 a barrel, 77.
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bitcoin, we check that out, 64,000, now it is 63-two. that's the markets this tuesday morning and now this. if your cause is considered just by the left, you can do what you like, you are doing the right thing, so you should not be punished no matter what you do. that's what we are seeing on the streets and on campus. disruption, vandalism, anti-semitism, no consequences. this was the scene in new york city. thousands of anti-israel protesters blocked traffic, burned the american flag, vandalized a world war i memorial. the police were trying to stop the rioters when the elites were parading. virtually the whole city was disrupted. essentially by masked, pro-hamas activists. it's the new normal. if you can bring the city to a breaking point, why stop. at the university of north carolina, hundreds of family
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members sound petition calling for amnesty for suspended students. the encampment disrupted the university and threatened jewish students. the faculty wants to let them go no consequences. at rutgers, they consider ending investment in israel, displaced palestinians onto the campus. isn't that a win for the anti-semites? this morning israeli forces started their push into rafah to destroy hamas leadership, therefore you can expect more street and campus chaos and more forgiveness, strength, and amnesty. voters do not approve. it's bad enough that gross anti-semitism goes unpunished, to see the disruption of cities and colleges continue, that will surely promote backlash against biden. second hour of varney just getting started.
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>> we have persuade to leave quickly. and these protests, are they a nail in the coffin of biden's campaign. >> a number of nails. the chaos, from california, it is basically true. it is representative of what we see, things falling apart. you look at the border, you look at crime, it is all the same, exactly what you said. no consequences for bad behavior. out almost like there's incentive to do the wrong thing it if you do the right thing,
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go to the bodega owner and the one that was punished, not the criminal. biden sits at the apex of the mining set of letting the bad things, punishing the way it was happening. stuart: i remember the 1960s, the sense of instability, or hell breaking loose on the streets. >> people look at the polls or what's going on with trump and battled commentators, how can this appalling man who was a threat to democracy be doing so well? he represents the antidote to this chaos. they call trump the chaos candidate, tweeting or whatever but in real life in the real world, biden and the democrats run the cities and states, most
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of this going on in the campus is all run by the left where the chaos is happening. lauren: 20 a soundbite by maxine waters, she thinks trump is planning an attack on the us. watch this, roll it. >> i will ask the justice department and the president, what it is going to do to protect the country against violence. i want to know about those right wing organizations, who are training in the hills somewhere, targeting the what communities go to attack, we need to know now given he is telling us there's going to be violence if he loses. we want to know what his plan isn't how we are going to be protected. stuart: have you seen these camps in the california hills? >> i don't know where to start. let's remind ourselves that the
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person, and attack, members of the trump administration. fomenting violence -- it is so ludicrous and the thing that makes me laugh about this is remember something else, they were boarding up the streets, the windows in new york, not if trump lost but if he won because it would be the left that would be causing chaos and who was it that rampaged in a violent manner in 2020, wasn't trump supporters, it was maxine waters supporters, the whole thing is ridiculous but the weirdest thing about this, they have got so lost in their own bubble and their narrative about trump they probably believe this stuff. stuart: it is trump derangement syndrome, more on that later in the show. one former cnn reporter slammed
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for her posts recounting a dinner she had with trump supporters. go through this and explain it. what did she say? ashley: it is priceless. x cnn reporter michelle kaczynski was surprised after meeting a group of trump supporters, she wrote this on social media, quote, all the well educated, they seem great on the surface. and they will let slip their true maggot natures. we were surrounded by otherwise carefully closeted amagates. they can't help it leak out even when you least expect them, and and they seem so normal.
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that post said they called it everything from elitist nonsense to arrogant snobbery. everything in between. stuart: it is priceless. we will cover it again in the next hour. check those markets. 38 minutes of business under our belts, the nasdaq is down 6, not much movement today so far. scott shell is a bady, the market is begging, what are the chances we will get? >> i don't think we are going to get them. at least this year. to the timeline quickly, graduate from university, want to be wall street, and you are 38 years old on wall street
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and, it is too high, i can't make money so everyone is banging on, stock market likes it. one small miss when it comes to nonfarm payrolls friday, all the rate cuts come back. everybody forgot about it going up and cpi, some folks might be disappointed. they have to keep them the same. if you go back 50 years, the rates are 5.42%. it is more normal. stuart: higher mortgage rates are good for the economy, speculate with me for a moment. if there were rate cuts, they did come down, 6% even, would that help the housing market, would it change the direction of the housing market?
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>> walk your self through it. opening up the stadium for more customers that want to buy a house. what if we have more demand for housing, what happens to the prices? it will go up. a 6% mortgage, pay one hundred 50 grand more for the house, don't know what they are thinking, if we still have a problem with inflation, the pce said we have cpi next week it will be key. we have an economy that's starting to falter with the gdp number that's a big miss. the fed, what they do is they do nothing, they sit on their hands until the end of the year especially the 6 month window going into the election. it's going to be interesting. anyone who things cutting rates will help inflation i don't understand what school they went to. stuart: thanks for joining us, see you again soon.
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you are looking at the big movers today. loose it is certainly moving, moving down to the tune of 10%. ashley: in big time reverse. down on higher costs, disappointing production forecasts for the rest of this year, slower than expected demand, and look at the maker of tylenol up this morning, higher-than-expected profit, up 5% and planning to cut 4% of the workforce. 5%. look at instant carts surging this morning after announcing a partnership with uber on delivery. easy access to food delivery from restaurants that partner
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with uber and instant carts, will get free delivery on orders of $35 or more. uber is down and doordash falling on that news. stuart: president biden delivers a speech on anti-semitism at the national holocaust memorial museum as the president faces heavy criticism over his response to rampant anti-semitism on college campuses. peter doocy has the story coming up. israel has more targeted strikes against hamas in rafah. what happens to us support of israel takes rafah. mark green deals with that next.
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stuart: in 45 minutes, president biden will deliver a speech on anti-semitism to commemorate the holocaust as anti-semitic protests continue to plague college campuses. peter, is biden going to try to play both sides? >> reporter: we will see but white house officials are assessing israel's operation in rafah, the one that officials here told benjamin netanyahu not to do. >> we have been very clear that we don't support a major ground operation in rafah. operations that put at greater risk more than a million people that are sheltering their. with respect operations in rafah, that puts people at greater risk. >> reporter: white house officials looking to get in the way of protesters by doing that, they are not willing to say so.
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>> on a different topic. why did the us health a shipment israel last week. >> i've seen the press reporting on this. i won't get into specifics of one shipment over another. >> reporter: problems with the israeli government don't mean problems with jewish americans, marking holocaust remembrance day. >> you will speak to house since october 7th we see an alarming rise in anti-semitism in the us, cities, communities on our taxes, the president will touch on how his national strategy to counter anti-semitism is putting the full force of a federal government behind protecting the jewish community and all americans united against anti-semitism. >> reporter: the preview is different from what we got last
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week when talking about anti-semitism being a problem on par on college campuses with islamphobia. stuart: tennessee congressman mark green. israel has begun targeted strikes against hamas in rafah. american support for israel seems to be slipping. are we delaying delivery? are we walking away from the best ally? >> reporter: thanks for having me on. no confirmation from the administration that they delayed shipments but it is clear they have delayed shipments, that's totally unacceptable. it appears hamas consolidated itself in one section of the rafah. this is an opportunity for rafah to take out the infrastructure. they are doing what they can, creating safe zones for citizens to go to. in particular to keep them from taking out this enemy that
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killed so many people back in october. the fact that they are half stepping all this, unacceptable. congress -- stuart: it seems the president is shielding hamas because of domestic politics. is that crass? >> very clearly these people who are riding on the campuses are not republicans. they are his base. the folks that are waving palestinian flags, death to israel, these are democrat voters and his supporters and he is having to thread this needle. what he needs to do is get 100% behind israel and let them kill their enemy. stuart: biden is speaking at the national holocaust memorial, should he comment and directly address israel's taking down of hamas? should the president address that directly? >> yes. i think he needs to talk about the legacy that is still present, people are still persecuting and targeting
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jewish people across the globe. he should talk about it, in context of what happened in the 1930s and 40s, no reason not to say this is a problem. it is happening again, we see on college campuses. it needs to be stopped. stuart: democrats are divided on the issue of israel. i the republicans united in support of israel? >> not a single republican is waving her palestinian flag saying death to america, this is democrat issue, we are aligned in our support of israel. stuart: thank you very much. always appreciate it. china's president xi xinping is looking to france to fend off a new cold war. xi asked to oppose any move to decouple from china. steve hilton is with me, you are shaking your head. >> it's disgusting, look at the
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situation. xi saying let's avoid a new cold war. there's a cold war and he started it. china is the one causing mayhem including in america, fomenting was we see on campuses. the south china sea, look at their imperialist ambitions across the world. across europe there is this naïve belief that if you engage with china they will behave better, exactly the opposite has happened. i saw this firsthand when working for david cameron, senior advisor to the prime minister. we got to decouple from china. they are attacking us. they are a threat to our system. it's just like the soviet union and the cold war. for a while we won that argument. the minute i was out they lapsed back to this naïve engagement strategy and that is what you see now.
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they have to wake up and realize china wants to displace our system and replace it with the of territory and totalitarian system that xi pushed across china. stuart: you and i are a couple of reformed europeans. a lot more for you later. an american soldier has been detained in russia. what do you know about this? ashley: make that three or four europeans. staff sergeant gordon black has been charged with, misconduct with russian authorities claiming he stole something and arrested him. 34-year-old soldier had been stationed in south korea and at the end of the store he made a detour to vladivostok, russia, on his way back home. it' s a 2 hour flight. moscow has a history of arresting american this on trumped up charges including corporate security executive paul whelen and wall street
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journal reporter, the army says it notified black's family, the state state department says it is providing support for the soldier in russia but few details at this time are being released. stuart: later in the show, michael moore encouraging anti-israel protesters to occupy buildings on college campuses. john levine, 13 federal judges say they will not hire law clerks from columbia university. they say the ivy league has turned into an incubator of bigotry. madison alworth has the story after this.
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stuart: one hour's worth of business, the dow's appointed 16 points, small loss for the nasdaq, dead flat for the s&p. look at the movers. explain why disney is so far down this morning. ashley: down big after missing revenue, down 9%. it's worth noting, business turned a profit the first time ever.
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perhaps ceo bob iger's plan after taking the number one spot starting to see results. disney is far outpacing the average s&p gains so some of the selling today may be a bit of a correction. peloton seeing gains after private equity firms by the fitness brand, the ceo will be stepping down, 15% of the workforce would be cut and just a reminder peloton reported a loss for 15 consecutive quarters. up 12.5%. look at nvidia down on the news that apple is pursuing its own design for ai chips. nvidia has been a leader in the ai market but can't secure one of the largest tech companies in the world. investors will be worried. stuart: thanks. 13 federal judges warning they
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will not higher law clerks from columbia university. it has become an incubator for bigotry. madison alworth, has the school responded to this? lydia: we have reached out to columbia but they declined to comment. those 13 federal judges wrote a letter to columbia university monday. most of those judges being in texas, telling the school they do not intend to higher law clerks with columbia on their resume up. the group said in a letter to the elite institution they have, quote, lost confidence in the school over it handling of the student protests and any student that chooses to go there starting in fall of 24 will not be hired as a clerk. saying the, quote, columbia has disqualified itself from educating the future leaders of the country. freedom of speech protects protest, not trespass, certainly not threats of violence or terrorism. others have gone the opposite route. andrew told protesters that companies like his would like
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to hire them. in a post on x saying moral courage is greater in college are very, if you're protest against genocide of the palestinian people, the university's to vestment from israel, keep going, it is working, there are plenty of companies and ceos eager to hire you regardless of university discipline. the anti-israel protesters sunday saying he doesn't support violence and anti-semitism after stock took a dive friday. students on campus not involved in the protests, they hope these actions don't impact future job opportunities. >> i understand it is hard for them to tell students -- most of my friends are in engineering school. they are kind of nerdy, don't care about social things.
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we are more like, just observing what happens here. >> reporter: we talked to another student who didn't want to go on camera, he's not worried about getting a job in business because so many of the leaders in business have schools like columbia on their resume themselves but he's worried about having to explain what's happening on campus on those interviews. stuart: steve hilton in new york city. has a degree from columbia lost its value? >> no question they will look at what is going on. do i want people -- the overwhelming sense you get is the level of ignorance, absolute ignorance. the fact that you can graduate from one of these elite universities, know so little of what is going on and confident in your own opinions, that would put you off. stuart: what turns me off is
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deliberate ignorance. now this. very liberal film director michael moore is encouraging protesters to occupy buildings on campus, keep doing it. watch this. >> it will continue across the country. i hope it continues. i applaud every student who is taking a stand on campus at graduation, disrupt. nonviolently disrupt. i am talking nonviolence. you do have the right to take over the administration building, you have to take over buildings. that is not violence. stuart: new york post john levine jointly, he's missing the point in my opinion. the point is you should not have this anti-semitic attitude on campus. that is wrong. >> he has been missing the point for a long time. first of all when i saw that clip, i can't believe michael
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moore is even alive still. for my entire lifetime he had been on the wrong side of every issue. it's no surprise to see him standing with the terrorists, hamas and college campus psychos ended his violence to take over a building, there's no nonviolent way to take over building any more than -- you take your car, you cannot nonviolently seize property that doesn't belong to you. it's a violent act inherently. stuart: any kind of anti-semitic statement is violence. >> to say we need to kill everyone in israel of course it is violence. stuart: it is not going to stop. >> it won't stop if you are listening to michael moore. stuart: another one for you. a mighty decided to scrap the diversity statement as a hiring requirement, prospect of hires no longer have to pledge of allegiance to dei, your proof of that. >> what a sick thing to say,
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pledge allegiance to a flag and noble ideas, pledge allegiance to dei, diversity statements are orwellian things but it is about limiting diversity, making sure university professors are with the program and everyone is on the same team and independent thought is not allowed. this is a win and it is not a win that came in a vacuum. look at the terminus public pressure brought to bear by activists and journalists, congress, these people will never do the right thing out of the goodness of their hearts, litigation, oversight, journalism and we are going to beat them. stuart: i am appalled that what's happening in new york and other cities in america. i am appalled at the anti-semitism on display all over the place. it shocks me america has come to this because i've never seen this in america before and i have lived here 50 years. >> at the time we need leadership at the highest levels of government. we were talking about president
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biden's speech, doesn't have to be a disaster. it could be an uplifting speech that forcefully condemns what's happening on college campus, forcefully lays out who is right and who is wrong. i pray he doesn't talk about islamphobia. it could get so bad. stuart: moral equivalence is not the story of the day. >> have to call out who is right and who is wrong. we have to be on the side of right. stuart: all right, thanks very much, appreciate it. choosing to include a story about killing a farm dog and refusing to say whether she met with kim jong-un. she joined our show to defend herself. can she survive politically? we will follow this. the biden administration is loosening restrictions on china to boost biden's green agenda.
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democrat joe manchin says it creates loopholes that endorse made in china. grady trimble has the story after this. ♪ ♪ as an independent financial advisor, i stand by these promises. as a fiduciary, i promise to be the financial steward that you and your family need. i promise to put your long-term financial well-being above any short term transaction. everyone has a big picture. my job is to help you invest in yours. [announcer] charles schwab is proud to support the independent financial advisors
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get in the game. 100%. mind and body. try five hour energy today. stuart: icy some green, thousand 90, nasdaq in the red. president biden is loosening restrictions on china to support the green agenda as the administration rolls out ev tax break that even some democrats they would benefit beijing. tell us about these loopholes. >> reporter: the law that made these tax credits for electric vehicle buyers possible included provisions to make
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sure if a vehicle -- barry materials wouldn't come from places like china. the treasury department released rules for graphite, excluded from those restrictions for two years. who is the world's top producer of graphite? that would be china. the reason the biden administration is loosening electric vehicle battery rules is so more evs are eligible for tax credits and up to $7500. the auto industry advocated for the change so they can sell more evs but even one of the democratic lawmakers who was key in getting the bill passed is fashioning the administration. >> my challenge with the administration has been implementing the bill. accelerating and showing certain favors to evs making it difficult that has any kind of notation to a fossil base.
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that's not how we wrote it. >> reporter: the chairman of the house select committee on the chinese communist party, says this rule deepens our reliance on the people's republic of china. the biden administration should reverse course, ban affiliated companies for receiving taxpayer dollars and incentivizing american innovation in the auto industry in this at a time americans are increasingly skeptical of beijing. a new pew survey finds 8 in 10 americans report an unfavorable view of china. at the same time, 70 one% of americans say china's influence has been getting stronger in recent years. stuart: thanks very much, steve hilton still with me. i get the impression we are having a evs forced on us in america. >> if they let the market
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decide, it would be a handful of rich people virtue signaling about how green they are. these subsidies go to the rich. you hear biden railing against trump's tax cuts for the rich. what do they think this is? this is a tax cut for the rich because it tends to be rich people who have these. the other thing is the total incoherence, for the biden administration's policy, you've got to have evs and subsidies and want to bring it all over here and on the other hand they are blocking the industries that could support a domestic supply-chain including graphite. they are blocking our mining in america for many of these materials. their energy policy doesn't add up, the economic policy doesn't add up, none of it makes sense. stuart: you are not a fan. elon musk is trying to prove
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his value at tesla before crucial vote on his compensation. this is new to me. what's he doing? ashley: proposing big changes to tesla. he was less focused on batteries, did away with that department and more on robotics and artificial intelligence. the wall street journal reports tesla has begun a campaign to win shareholder approval to reauthorize musk's record $56 billion compensation package. this was approved in 2018 but was rescinded in january by delaware judge who took issue with the board's ties to musk and how the deal was put to gather. the pay package was linked to what has i met years ago to make the company's automaker valued to be at least for a while at one trillion dollars. musk's surprised investors earlier this year by saying he doesn't feel comfortable working on a i and robotic
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centers a without having greater ownership stake. you wants 25%, he holds 13%. stuart: he usually goes for it. what we've got coming up here, a prosecutor in trump's criminal trial was once paid by the democrat national committee for political consulting and was always a top official of biden's justice department, was he doing prosecuting trump in new york? brian kilmeade will take that on next. ♪ (♪) (♪)
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her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit...
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unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. stuart: looking now at tesla. stock is down per student dovish 2%. check big tech please. across the board, most of them up. meta and microsoft are down. no big gains, no big losses for big tech as we speak. we have alphabet top of the list, up $2, one. 45%. %. at 10:51 eastern time which brian kilmeade joins us. brian, governor christie noem
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was on the show, i asked why she decided to include the story about killing her dog, cricket, in her book, roll tape. >> this was a vicious, dangerous dog. it was a working dog. i had to make a choice between the safety of my children and an animal that was killing livestock and attacking people. it is included because a lot of politicians run from the truth, donald trump is the only person who will decide who his vice president's. he needs somebody who will help him win and i have told him i have supported him from the very beginning. stuart: there was a furor and this was revealed that she shot her dog. do you think she can survive politically? >> it she did our show yesterday for half an hour. it was not an excerpt they released. sometimes you get a book and they release excerpts that of time. this is not when they released. someone read that and thought this is going to be a huge deal.
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for people don't grow up on ranches and people who didn't watch old yeller, the movie, old yeller gets rabies and they shot him and this is a different story. she thought it would be received differently. kim jong-un, she said she met him, she did the book on tape and read it. how does she not pick that up then and they got the dates when it comes to her argument with nikki haley but she's holding to that and this is the last thing she wanted, she wanted to tell her story, her unique background, success she has as a rancher, becoming a congresswoman, armed services, having foreign affairs experience and this is not what she wanted to have out. i think personally it has to -- got to eliminate her from the vp stakes but she will be somewhere in the cabinet i am sure. stuart: you think? the political furor when this was revealed was extreme, you
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should see the emails, we've got people saying we are trump supporters but if he picks her as the vice president we are not voting for trump. we won't do it. >> may be secretary of the interior or something would make sense. she can execute, we know she is a leader, don't want her deciding whether the dog should live or die. as bad as that was, she should never have included, don't know who advised her to do that, editors, they should all pay the price for this but it is not what she wanted. this has been a disastrous rollout even if people do buy the book, they are stuck on that spot. always, i hated putting them down when they had to be put down when there was no choice which i could never imagine saying you are an trainable, i have to shoot you. stuart: let's move on. day 13 of trump's criminal trial, prosecutor is a former
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biden department of justice official, we are learning the democrat national committee paid this guy for political work in 2018, for political consulting. how come is in new york prosecuting trump? brian: i don't know what it takes to be a successful lawyer in the legal profession but he had the prime job at president biden's department of justice and loses that job when mark writes his books and leaves the state case. often bragged's office, he takes over and says let me lead this. wide bleed this? it's a huge step down like going from major leagues to single area so you can be the big one on campus, makes no sense we are en route to being a daughter and the yankees, why does this make sense? look at his background, obsessed with trump before, michelangelo working with leticia james. michelangelo is a democratic operatives. seems obsessed with trump.
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to revitalize the case. in the bigger story, that's what the president is pointing out, former president is pointing out, this is pure politics, goes back to the department of justice, why is leticia james meeting with the department of justice? wise nathan wade meeting with the white house justice department? don't tell me there's no relations between the white house and the guy that wants to get back there. stuart: we are out of time but thanks for being with us, see you again next week. thank you very much for being with us the entire hour. there you go. israel has started its ground operation in rafah. is israel committed to destroying hamas once and for all? we speak to former israeli primus to bennett about that. jason on how his status holding advisor protesters accountable.
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jimmy failla on a pharmacy and reporter surprised to find some trump supporters are normal and well-educated. 11:00 hour is next. ♪ ♪ after last month's massive solar flare
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