>> it is a vest from catapult sports and according to the website it tracks all the things in this movement but is not the fact he's wearing a sports bra but the fact the way he standing there and is getting crucified. >> not a good picture. we hope he heals and get the plane for the cardinals soon. thank you for being here with me today. "varney & company" is up next. stuart varney taken away. stuart: good morning, everyone, the news does not take the weekend off. president biden does, we will get to that and the moment. a special counsel named to investigate hunter, congressman sgreg steube, trump, the fourth

indictment expected this week and now we burns, drama and paradise. serenity at the presidents beachhouse, asked about the about the maui tragedy, we are looking at it. democrats anxious about this president, dean phillips went on nbc sunday to urge the president to pass the torch, move aside please. to the markets, dow industrial and s&p and the nasdaq opening slightly lower this morning, a red ink this morning. interest rates, the yield on the ten year moving up to 418 and the yield on the two-year period slick close to 5% is now at 493 and going up, not good for the nasdaq, look at the price of gasoline closing in on $4 a gallon, 385 for the regular right now. in washington state and california well over $5 a gallon.

diesel, truckers and farmers, $4.31 that is a 46 cents and one month. on the show today, wait for is taylor swift bigger than the beatles, we noticed whenever we mentioned her the ratings go up, jeff sica is pursuing a jihad against disney, why hasn't he sold the stock, believe it or not a native american group wants to change the commanders back to the redskins, one last one elon musk, zuckerberg fight looks like it's off. we cover it all, monday august 14, 2023, "varney & company" is about to begin. ♪. stuart: were good go straight to the devastating wildfires on maui hawaii. at least 96 are confirmed dead,

will cain is there, bring us up to speak, the latest police. >> i left right after "fox & friends", got up plane and headed to maui. i got here a couple of hours ago and i'm on the north side of violent, not with the devastation, police checkpoints that will keep you from getting over there unless you prefer residency which we anticipate should appear problem for the producers and myself with fox but on the side of the island's logistics. uc the recovery effort, using the people, the survivors from lahaina pre-behind me is king street, one of the pastors involved with the church as the pastor he baptized my sons three weeks ago. and now i am back here because his church and home argon and they are here today running logistics, feeding people, housing people, by b40 sleeping in the shelter in this church.

this is a place where many, many people have gone to seek refuge. meanwhile on west maui there is power that is back but with that will come light and soon the sun and it's utterly devastating and lahaina. stuart: if our viewers want to help, where do they go to help. >> there are many places i go to help, samaritans first, convoy of hope, red cross. i become an ear for 40 years, deep connections, friends, family, we put together a gofundme, help the people of maui. i'm so touched the way fox's audience has responded to this. my pledge is to ensure that donation to charity go directly to people who have been devastated by this fire. i will make sure this gets to the people in need. i appreciate you asking i would appreciate anybody's help. >> your good man we hope your viewers will follow through.

thank you so much. to help those affected and donated to the red cross, scan the qr code and had to redcross.org/foxforward. president biden said he is considering a visit to hawaii. watch this. >> agood morning. >> the president is looking at it. jason chaffetz is with us i was expecting a forceful response from the president, what say you. >> that was an embarrassing answer, i thought the president should have been on the southern border and east palace team and i think he should be in western maui, it is the most deadly wildfire we have ever had and people are devastated, regardless of the politics, there is but one president, the president of the united states should make his presence known.

it would be very helpful to the people and i think is very appropriate that the president owns. no matter who it is, joe biden go to maui. >> the president looks at a out of touch when he sitting on the beach. congressman dean phillips is a democrat is again calling for the president to drop out of the 2024 race. watch this. >> i would like to see joe biden a wonderful remarkable man pass the torch i believe in the best interest of the country, this is not how everybody things but i think a majority wants to move on people wanted turn the page as a democrat i adore joe biden. he saved this country, my real call to action is not about me, the call to action is to ask the president to pass the torch. >> jason, my opinion and i shared this with viewers before the democrats will push them aside before the election. i think you agree with me.

>> i said i don't think you be the democratic nominee before the end of this calendar year. i think he's on the way out and i appreciate what the congressman was saying because i think the majority of people want to move on and democrats are burning daylight at this point not giving time for the next person. the best evidence that i have the joe biden is not actually running. at this point the number of campaign staff he has on biden for 2024, seven. that is not a serious campaign. stuart: you can't run a presidential campaign with seven staff on board and you can't run it from the beach or the basement. he's in danger of looking completely out of touch, almost irrelevant to the news of the day. last word. >> i agree the time on the beach has been more than a year away from the white house. for the most difficult job in the world you can't be hanging

out on the beach day after day especially when places like maui are happening. >> we dealt with this before and i'm sure we'll deal with it again. thank you for joining us. a quick check of the market. a little bit of red ink, the dow, s&p, nasdaq is not catastrophic, the dow down 30, nasdaq 1035. i gotta do something different. jeff sica is with us this monday. taylor swift, that's what were going to talk about. listen to what barstools sports dave portnoy had to say about her on this program. >> i've got ask about taylor swift. >> love her. >> you're really a big fan. >> why do you like taylor swift. >> brilliant. >> she's always been true to herself, she's always told the truth and she's had a bunch of things. when connie stole the microphone, if you recall the

incident she was a young kid nothing but a superstar, big hit and she got a lot of hate and it's come full circle. maybe the biggest artist in the world. >> he is a really big fan. jeff sica is with us this morning and we have the all-important question to put to it. is taylor swift bigger than the beatles. >> i was so hesitant to talk about this because i know you are beatles fan and was british but yes taylor swift is bigger than the beatles and will be bigger than the beatles and let's face it the beatles were overrated anyway. >> i'm serious, they toured once, they were a studio group they did a one world tour. >> they came to the united states several times. >> they did one world tour were taylor swift lives on the road. now they have a record, the record that the beatles had.

they had three songs on three separate albums simultaneously in the billboard top ten, taylor swift just tied it so the difference between the beatles and taylor swift is taylor swift loves the road she loves her fans and performing and people love her and that's why she has a greater legacy than the beatles. stuart: were going to move on at this point but how many people will remember taylor swift and play her music. 50 or 60 years from now. >> i believe a lot of people will remember her because her message does designate with this generation and i think they will remember. granted the beatles have a handful of songs they will remember. stuart: what do you make of the

espn pen partnership. >> i'm happy for david portnoy i thought that segment was fantastic he did the deal of the century. here's what i'm surprise, no hesitation that i been bashing disney pretty much weekly here they have espn which is their original cash cow, now they're turning to online gambling. i have no problem with online gambling, live and let live. stuart: it trashes the disney image. >> and trashes the disney image. i look at it now when the nca just proved that gambling is pervasive for people from 18 to 22. i think it's a bad move for the brand. stuart: you had your say about the beatles and disney. we may see you next week.

this is important, mark zuckerberg says he's moving on from any fight with elon musk. a few days ago the coliseum in rome, how did it fall apart. >> i think it never was. elon musk was stonewalling and mark zuckerberg had enough. i think we can all agree elon musk is not serious and it's time to move on. i offered a real date, dana white offered to make it legit competition, elon will confirm a date and now need surgery in a practice round in my backyard instead. the story of the summer is now over if you ask me. and i read one tweet the said the copycat is a scaredy-cat so he thinks mark zuckerberg is making despite not happen when most people would say elon musk. stuart: that was in a block for the show. coming up texas congressman mike mccaul ripped the readministration for the naïve

$6 billion iran prisoner swap for mckay would get them home more than anybody we have to go in eyes wide open expelling in dollars to go into iran and prop up the proxy war terror operations and their nuclear bomb aspirations. stuart: kt mcfarland coming up on the show i believe she shares his opinion. she's fired up about the prisoner swap. greg steube has introduced articles of impeachment against president. i'll ask congressman if the appointment of david weiss insulates the biden family. we'll be right back. ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf

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stuart: the attorney general merrick garland has appointed david weiss as special counsel in the hunter biden inquiry. peter doocy at the white house. what does this mean for the congressional investigations. >> that is a good question that comes is hunter biden's lawyers are confirming a key part of devon archer's testimony to the congressional committees and their explaining what vice president joe biden was doing on speakerphone with international businessmen. >> of the most people that are criticizing the biden family, is that when the president called his son every day and it goes on speakerphone and he says hello to the people in the room that is not an offense that is nothing other than a loving father. >> republicans are reversing the call for the special counsel now that they know it'll be the same prosecutor on the plea deal they gave hunter immunity for undiscovered crimes named david weiss and. >> i never dreamed he would do

as bad as he did with david weiss. not only did he drag his feet for five years and try to negotiate a sweetheart plea deal with the president son he also let the statue limitations run out that was one of the biggest complaints from the irs whistleblowers when they testify before the committee. >> biden allies are not excusing his past behavior but they don't want it connected to his dad. >> to have a been able to show any criminal corruption. what they got is hunter biden and they also include that the sky was addicted to drugs and did a lot of really unlawful and wrong things. we said that the justice system run its course. they're not saying that about donald trump. >> president biden hasn't said anything about this yet. happen friday limited opportunities while he's been at the beach. stuart: he arrives back at the white house in a couple of hours

so you may or may not have a chance to ask questions. see you later. join enough order congressman greg steube. you filed articles of impeachment against president biden, does david weiss as special counsel insulate the biden family from congressional investigations. >> it does not we continue our investigation mr. comer talked about doing subpoenas to the financial records of hunter biden specifically not just the llcs into the big guy to see exactly where this money went because they were payments made because there's no evidence that he was involved in there is evidence that joe was involved. we have witness testimony and financial records and irs whistleblowers in the special counsel is supposed to be an unbiased separate person broadened specifically for the purpose to investigate crime. this is the same guy

investigating them for five years and as mr. comer said a sweetheart deal to hunter biden and allowed for felony crimes the most egregious crimes for the statue of limitation that is not me that is irs whistleblower who is the head investigator on all of this investigation who were removed from the investigation. that is their testimony the d.o.j. allowed for the agree just so they could not charge them with the crime. stuart: if you subpoena them and they encumber for the committee can't they say this is under special counsel investigation i cannot say anything. >> you forget a subpoena d.o.j. or fbi, that's absolutely what they're going to do but what mrs subpoenaing financial information from the financial institutions of where the money went after it hit the llcs, that we can absolutely do. stuart: you travel with president trump to iowa over the

weekend and i have to tell you i know what the reception was like i think it was pretty good but it looks like another indictment this week. you think trump's poll numbers will continue to go what as he keeps being taken to court? >> it was absolutely incredible. i've never been to the iowa fair but i talked to the people that were there and the other candidates before president trump and they said no where near the amount of people. you could not get through the crowds there were that many people it was amazing to see the support, 12 blocks of cars trying to get into the fair and every one of the indictments that have occurred made the president stronger in his poll numbers go up because the american people see this for what it is. election interference trying to take out the number one contender to take on joe biden and they know they're using a weapon is in the d.o.j. to go after president trump. stuart: one last fast one what are you doing about the secret service investigation which i believe failed in the

investigation of the cocaine founded the white house. >> i filed a bill to get to the bottom of that helping understand narcotic traces to force a super untrue secret service to give congress information on what was the ultimate result of the investigation because they couldn't find anything which is absolutely unbelievable that they didn't know where it came from with all the security that goes on there. congress will get to the bottom of that but it's going to take some time. stuart: thank you, congressman greg steube. check those futures you always want to know where your money's going. a little south, little red ink. we will be back. ♪

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stuart: midsummer it doesn't look like a dramatic open to the market, the dow all 40, nasdaq on 35. keith fitz with me this morning. >> are you recommending buying amazon now. >> i'm taking a hard look, weeks like this i love it when nobody

sees what's coming you have a chance to get on a train leaving the station. there catching up that's not a position there used to there catching up to microsoft and google with a.i. specifically because a programmable custom chips. >> how do you know there catching up with mike is off, custom chips? >> is a change in psychology. amazon is not used to being in the rear foot they were caught by surprise and flat-footed with microsoft and google weighed into a.i. another's word they will customize chips. if you look at aws as a component of overall revenue that tells me plenty of new customers or to do new stuff on aws which is going to move the needle. stuart: are you recommending to your people that they bite amazon today. >> i have a little more analysis to do but in very close to doing that. stuart: retailers report home depot, target, walmart, pick a favor for me. >> to me the interesting one

will be walmart i prefer to own costco but the key can the consumers sustained increase, are they have been passed along and will consumers tolerate at an all-time high, there is logical concerns have stressed everybody's wallet is getting. that is the one to watch. stuart: what about home depot with the housing industry not doing that great, what about home depot. >> i would not touch that i'm not like that for a long time because i'm not sure management understands the inventory mix properly. i would be rather farther into the playing field and after groceries not building materials. stuart: your very good contacts in asia and i'm sure you been watching the decline of the china economy. it's really slowing down and their property troubles. do you think that will spill over to our market and affect us. >> i do but not in the way most people expect. what's happening is a deliberate

imagination from beijing they're letting that happen to the government can ride to the rescue and employ legions of young people that don't have jobs, they can distill a social agitation in china is going to use this to maneuver more strongly to the economic future as a great savior rather than the western thought which is the economy is terrible. stuart: we will stick with amazon, thank you for joining us. we will see you again later. ten seconds to go, another week begins on wall street. were expecting the selling of the opening bell. not that much, you never know how the markets going to close but it open slightly lower. the dow has opened slightly higher when it you know it. what a foolish thing to say, the thing opens in two seconds later the thing is that. the majority of the dow 30, half of them, one third up, two

thirds down not an encouraging start. the s&p 500 has also open slightly lower. thank goodness down five points, the nasdaq composite slightly lower, down one third of 1%. i imagine big tech not doing that well as we open up the market but amazon slightly higher. apple, microsoft, meta down. how about the ford motor company it is down a half 8%. we just received this ford motor company has appointed an apple veteran peter stern as integrated services, he's not helping the stock. more signs of slowdown in china, problems in the property sector. all the china stocks are down today. lauren: it is a chronic slowdown, it's pretty bad. what is going on yet and exporting factory driven economy transitioning to consumer

economy. it's not working and they're trying to get out of covid so you can pick your poison for what you want to look at today. there's a lot of options for bad news out of china. the credit data showed a slumping demand from households last month. the housing distress really alarming a company called country garden they missed their debt payments. when you look at the housing the intersection of the construction of the property with the finance and household wealth. it all comes together. if you're housing market is crumbling the way it's set up in china that speaks volumes. keith was talking about youth unemployment there are no jobs. at what point and how much does beijing stepan. stuart: does not spill over to us, will discuss that. have a look at tesla i believe it is down 3.5% to 34. they cut prices with one model. >> two versions of the model why

they get 1900 u.s. dollars cheaper thank down 4% price. i thought elon musk was done cutting prices. this is good to be an international price war and does it extend to the u.s. and europe and this is why the stock is down. that was the story for the last quarter and is continuing into the current quarter. >> if i would've seen the story ten years ago it would've been headline news. u.s. steel way up because they rejected a buy offer. since when do you have that for u.s. steel that is extraordinary. >> wall street thinks it's big news, the stock is up 20%. $7.3 billion came from cleveland cliffs at $35 a share or $7.3 billion the u.s. steel responded were entertaining several bids it does not mean the doors closed on cleveland cliffs. the problem is how would this deal if it becomes something get

regulatory approval in the market. not sure the cleveland cliffs strategy is buying other companies to compete with china. now the going after u.s. steel. stuart: back in the day a buyout for u.s. steel would've been unthinkable but now they reject the offer. another one from apple, there slightly higher today, their supplier, foxconn, they reported this morning. >> foxconn is important they assemble 70% of iphones, they did okay, profits fell 1% better than expected, consumer demand, china's recovery not really happening there diversifying into ev's, to produce electric vehicle batteries were not showing foxconn but apple stock is down roughly 10% in the last three weeks. that is astonishing for a company that size.

amc their way down. is this a meme stock. >> it's been called and mean stock but the shares are surging as much as anc is declining. a judge has improved the apes ape shares into common stock they are way up, the raising money bottom-line vacancy should be off the table for amc even though the stock is down. >> i would love to know what portion of our viewers by a mean stock. stu.lauren: there's many mean stocks. >> cavity people by amc on the ground that it might rebound. >> i think a lot. >> if you check a much there mentioned on the platforms, yes. >> who is bearish on urban. lauren: citigroup, they expected turnaround to be slow stock is down 1% in urban outfitters reports next week.

check the big board, five and a half minutes worth of business and were up 20 points, 35300 on the no's check out the dow winners, whose at the top of the list. rather unknown, boeing, merck, j&j, walmart, honeywell. we know all the names up a little, s&p 500 winners, i cannot read that. the steel company u.s. steel is way up, also beauty, bath and body works, big time winners. comcast, micron, electronic arts, all on the upside and that's the nasdaq winners. check the ten year treasury for 19 is the price and the two year yield getting close to 5%. the price of gold $1937. bitcoin 29 and small change.

293. oil $82 per barrel and not gas it does not move that much, still 279 but you have to watch gas, the average price for a gallon of gas is $3.85 up another set but watch diesel the national average is $4.31 that is up 46 cents in one month, that hurts if you are a trucker. 2024 vivek ramaswamy believes the ukraine war is a repayment for bidens bribery scheme. watch the. >> i'm on record going on favor of impeachment inquiry on biden because i personally believe ukraine war is a payment for a bride made $7,200,000,000,000 of taxpayer money in the other direction. stuart: a repayment for a bribe made. look at this the media can restore the credibility by reporting equally on biden and

trump, joe concha wrote that will the left treat trump fa fairly. the white house getting ready to celebrate one year of inflation reduction act. will tell you how much inflation is costing you. we will be back. ♪

stuart: 12 minutes into the session on a monday morning not much price action. dow is down 40. >> president biden had several, he's get a talk at bidenomics. edward lawrence at the white house, how has bidenomics been

working on for people so far. >> if you asked the president he says is going great, the president spent last week to try to message his way out of the stresses that people are seen every day in this economy, tomorrow he will be in wisconsin and talk again about his version of bidenomics, that is one week from the presidential republican presidential debate and on the inflation reduction act and nothing to do with reducing inflation that's how it was sold to the american people, the end result of a lot of these things and by the way the inflation reduction act i wish i hadn't called it that. has less to do with reducing inflation than it does with dealing and providing for alternatives that generate economic growth. alternatives come from forcing the economy to transition to all electric cars. the data shows the cars are too expensive and the critical parts needed for the green pressure

made or sourced in china. the bottom line this left workers with 3% less than their paychecks, since president biden took office because everything else is more expensive. >> i would start with talking with inflation. the way i would talk with inflation, prices are 20% higher than they were when biden took office. if you spend $50000 a year on your family then you have to spend $10000 a more per year end that's a lot of money unless your income might apply 20000 euros off under joe biden. >> this is the heart of the decision that voters have to make are they better off and they were before the pandemic. the pandemic was a rare black swan event. that's where if they go to the polls to decide the next president. stuart: the market is opening this monday morning with minor losses across the board. i want to bring in stephen

moore. i'm going to go for two foreign stories. the far right in argentina looks like it'll fall on the next government this is a shock, what does it mean for us. it's been 80 years of socialism in argentina. it went to socialism now a third world country. the first time in decades it's not over they of the general election in the fall but this new candidate emerged out of nowhere he wants to take a chainsaw to the budget, the government budget he wants to cut taxes and increase liberty. argentina, don't cry for argentina. if this governor gets elected to go be a political earthquake in

argentina's economy could be rebuilt. >> i'm glad you picked up this could go places. the next one is china we talked about that a lot obviously slowing down dramatically. troubling the property sector, on the verge of default, china's second largest economy in the world and it's in trouble, could they take us down? >> let's see what happens with their consumption, you're exactly right they had a tough six months in their economy is effectively in a recession and we saw a lot of stuff to china and they sell a lot of stuff to us we will see how this impacts our own economy here but i'll say this were in a cold war with china and the fact that our economies through better i think china's problems are a lot deeper and they go to the fact, let's not sugarcoat this, china

is a communist country and they have an evil dictator running the country and until they change i believe the united states over the next 25 years will outcompete china. stuart: fair enough but in the immediate future, china could drag the whole world economy down. they are that big and were slowing down that dramatically. >> there is no question about it. this happened most overnight. china had a 20 year run an incredible boom in the economy. the unemployment rate for young people between the ages of 16 and 24 is 21% and that could cause political unrest when you have a lot of young people without jobs. stuart: we will see how this thing plays out what is on the radar screen for wall street if they can see this thing coming and they want to know how bad is going to be. thank you for raising two interesting stories we will follow them both. see you again soon.

the next story is terrible. that is a huge flash mob ram sacked a nordstrom and los angeles over the weekend. i saw the video, is that the new normal. >> it looks like it is casually coming into a store and taking everything that you can grab including the racks when the handbags don't come off the bags. >> the mob of 30 - 50 mostly headed men bears. the security guards. i don't have an update on the security guards, this is estimated damage between 60 - $100,000 from the nordstrom and the mayor of los angeles said finally these thieves should be held accountable but send a message to george cass county do that to hold them accountable. stuart: send a message to whole of california, stealing is wrong.

they need the money, who needs the money. >> the thieves they have to sell the money to get by, they deserve to steal that's the mentality. stuart: you never bring a state or city back if you allow this to go unchecked. i think we understand each other. coming up we are three years out from the start of the pandemic. if you go back, look what happened, the teachers union and school board authorities turning the pandemic and political leverage of what they hoped was political leverage that could be my take, crypto crooks sam bankman-fried behind bars of his trial and october. he has a detention center brooklyn said to be among the worst in the federal prison system. we have details next.

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stuart: sam bankman-fried went from being on house arrest at his parent's manchin to be in an inmate at one of the worst jails

in brooklyn. what happened. >> the judge on friday found that sam bankman-fried has repeatedly tried to interfere with witnesses so the judge revoked history to 50 million-dollar bill. sam bankman-fried was cuffed and taken into custody now he is awaiting his october trial from the metropolitan detention center, that's one of the largest in the country and long accused of neglecting brutality pretty has a 1700 mostly male of all security levels including inmates with criminal histories that include terrorism, organized crime and drug smuggling. high-profile inmates a pastor include maxwell and martin who had this to say on ask. it sucks for sam and if i were him i would want to be on the eighth floor, no action, stabbings, drugs, less crowded, boring as hell and he might be

running the gel in a few weeks. they accused him of witness tampering and the accusations they say sam bankman-fried tried to harass his ex-girlfriend and alameda research the sister company of ftx she is expected to be a star witness in the trial against sam bankman-fried, they said he showed a journalist or private writings, they also accuse sam bankman-fried to reach out to the special counsel for ftx. the defense team said sam bankman-fried was exercising his first amendment rights to defend his reputation in the press, the defense attorney said they plan to appeal this decision on bail. stuart: as of this morning is on brooklyn. a quick check of the market we are 25 minutes in, the dow is down 80, fractional loss for the nasdaq and s&p. that's have a look of the dow winners who are they and how are they doing, we start with merck,

j&j, visa, unitedhealth all on the upside s&p 500 topped by teledyne technology, market taxes, lots of things i don't know. >> what is market taxes holdings. >> that one i've never heard of. nasdaq winners, comcast, paypal, crowdstrike, nvidia made the list. earlier today i saw nvidia on the downside. now it's come back up but it set to 413. doctor marc siegel on the los angeles school board reversing course on covid. charlie hurt on impeachment articles against the president, general jack keane on the iran prisoner swap in joe concha on the media credibility. the 10:00 o'clock hour of "varney & company" is next. ♪

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♪ ♪. stuart: you knew the name of the song and the singers. that is a different view, that is the empire stat