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tv   Varney Company  FOX Business  April 5, 2024 9:00am-10:00am EDT

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with an economy that's this strong. so that's kind of how i split my universe and say this is where i want to be extremely negative, and this is where now this is certainly going to happen and i want to be very positive. maria: and we talked about a stock the last october, impinge, and i know you're looking increasingly outside of the mega-cap tech. i'm going to you about that when we speak tonight on maria bartiromo's "wall street," about how you're looking outside of the mega caps. i appreciate you joining me tonight on maria bartiromo's "wall street with," dan. final word on this story. we've got a market that is still up on the heels of this hotter than expected numbers. guys, thank you so much. great conversation. joe, alfredo, steve, bob, dan, john, we appreciate your time. have a fantastic weekend, everybody. i will see you monday, varney and pane is up. stu, take it away -- "varney & company" is up.
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stuart: here are the numbers. in march, a big number, 303,000 jobs were added to the economy. and the unemployment if rate actually moved down to 3.8%. hourly income up a sharp 0.3%. i'm going to characterize this in a very strong report. investors, of course, are trying to figure out how this affects the federal reserve's interest rate calculation. first of all, the stock market. the reaction there, the dow and the s&p, the nasdaq were up before these numbers came out. i thought it would go down on the strength of these numbers but, no. we're still hold toking on to a modest gain for the dow, s&p and for the nasdaq. interest rate, they are, indeed, moving higher. the 10-year now yields 4.39%. up 8 basis points. that's actually quite a lot. the 2-year, 4.72, up 7 basis points. so interest rates are rising on this unemployment if news. gold, close to a record high thursday, very close to it now, $2,309 per ounce.
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bitcoin, $66,700. oil, steadily rising with the tension in the mideast, $86.79 a barrel. gas, that's starting to inch up all a over again, $3.58 for regular, that's up 2 cents, and and diesel is up 1 cent at $4.04. politics, the president bows to international and domestic pressure, he calls for a ceasefire. israel promises new aid routes into gaza. trump says end the war if gaza soon. get it over with, he says. there will not be a no labels candidate in the november election. they just couldn't find a candidate. but the creme democrats are freaking out about a rfk jr. who will be on the ballot in some states. on the show today, the president will announce the biggest vote-buying scheme to date. he wants a new student loan forgivenesses program that will relieve debt for millions. it will be geared to young with voters. biden's been losing ground with that demographic, he's trying to buy them back. in chicago, calls for the democrats to cancel their august
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convention because of widen's support -- biden's support for israel. biden desperately wants to avoid a repeat of the 1968 chicago convention where rioting over vietnam contributed to the democrats losing the presidential election. big day. friday, april 5th. "varney & company" is about to begin. ♪ ♪ ♪ i'm gonna soak up the sun. ♪ i'm gone -- gonna tell everyone to lighten up ♪ stuart: i'm not sure why we chose that. perhaps it's going to be sunny later, but it certainly isn't now. sixth avenue, still deserted. we're going to start this friday morning with the with latest read on the economy. look at this, 303,000 jobs added in march. good morning, lauren.
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lauren morning. stuart: what else? lauren: prior two months revised higher, they're typically revised lower. this time higher. let's look at where the jobs are, health care adding a lot of jobs. government adding 71,000 the workers in march. there you go, health care and social assistance combined, 81,000. construction, 39,000. retail, 17,000. the unemployment if rate dropped, surprisingly, to 3.8. wages, they're up as expected, 4.1% on the year. the average worker making $34.69 an hour, and now the cannes of a fed rate -- the chance of a fed rate cut in june dropped to 53%. stuart: why am i not surprised? look at the market, the numbers out 33 if minutes ago, and the markets dub the stock market all higher. dow up 50, s&p up 12, nasdaq up 62. david bahnsen with me in new york this morning. the most important part of in this report, i think, is inflation.
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what did this report tell you about inflation? >> it tells you absolutely nothing about inflation -- [laughter] because this is manager i want the right and the left to understand once and for all. it used to be only people on the left that didn't know this, now the right seems to be confused. jobs don't cause inflation. people working doesn't create inflation. too much money chasing too few goods causes inflation. when people are working, you're producing more goods and services. so this phillips curve model they used to call it in the 1970s, this fed model that we are worried jobs are creating inflation, it isn't true, it's the never been true. what they do or don't do with rates should have nothing to do with people working. stuart: real fast, interest rates are rising this morning, but the market is also on the upside. they don't usually do that. >> no, that's true. stocks and if bonds are correlated. however, the bond yields dropped yesterday with 8 basis points, they're back with up 8 basis points today, so we're just back to where we were a few days ago. the 10-year has stayed below 4.4%, so so it's kind of it's
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higher than it was by about 30 basis point, but it's still staying at this middle ground level are. if it gets back to 5, then i think you have a problem --. stuart: let's get to politics. the no labels party announced they will not be running a candidate. why are they dropping out, lauren? lauren: they don't have a credible candidate. >> no labels was looking for a hero, and a hero never emerged. we've been very straightforward and up front and honest with the american public that we were going to field this ticket if two conditions were met. number one, if americans wanted another option, which is definitely, box is checked. and, number two, if we were able to find candidates that we believe have a pathway to victory, and that's where we ran into trouble. at the end the -- of the day, we weren't able to find candidates who had a straightforward the path to victory.
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lauren: there are reports bill clinton intervened on two occasions to tell, first, joe manchin and then larry hogan, if you guys run, you're going to put trump in office. stuart: rfk jr. is still in. i guess the democrats are getting worried about that. will cain with me in new york today. >> that's right. stuart: we're honored, will. >> honored to be here. stuart: does rfk jr. take votes from biden or trump? >> primarily biden. you know, the interesting note about this no labels news is they weren't just encouraged by president clinton to stay out of the race, but they were threatened, cajoled, told if you have an inch of a skeleton, a thumbnail in your closet, we will find it and,s pose it. this has been the response by the democratic party to any type of threat that can take away from joe biden. quote-unquote, defenders of democracy are doing anything to insure that democracy is not an
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option. you only really get to vote for joe biden. and i don't mean joe biden or donald trump, because that same attack is being applied to donald trump. stuart stuart now, there are some in chicago, believe it or not, who want the democrats to cancel their convention which is due to be held in chicago in august. i think they're scared of a repeat of 1968. >> yeah. stuart: you don't remember 1968. i do. there were riots across the board, and they lost hubert humphrey the presidential election. richard nixon won. biden is scared to death -- >> absolutely. stuart, i wasn't alive, you're right, but i read history books. [laughter] you know, i don't know the contingent that you would see in the streets at the ballot box swings an election, because i don't know how much is a protest vote now versus they will mobilize for joe biden in a general election, but the image that you're talking about is powerful. we saw it a few days ago, a week ago right here in new york outside radio city music hall at the fundraiser e for joe biden. and if so times ten at the dnc,
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that's a horrible image for the democratic party. stuart: you sat down for an interview with deign the rock johnson. -- dwayne "the rock" johnson. he says he regrets supporting biden in 20020. watch this. >> am i happy with the state of america right now? that answer is, no. the enforcement that i made years -- enforcement that i made years ago with biden was one i thought was the best decision at that time. the takeaway after that, i started to realize, like, oh, man, that caused an incredible amount of division in our country. am i going to do that again this year? that as soon as' -- answer's no. stuart: is he going to support trump? >> he said he's not going to make an endorsement in 2024. the news there is that he he has, like many celebrities -- taylor swift -- reeled back their endorsement of joe biden based upon, i would assume, the state of america. three takeaways, we talked an hour. he gave me well over time that was allotted.
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so something for everybody here. politic, you heard that. and i would add to it that i think there's a real consideration for him in the future when it comes to politics. i think he's entertaining that. sec, business. tequila, wwe, ufl football, movies, and yet as many mountains as he's climbed and he, by the way, owns thish p now to "the rock," so he's well on his way, i would imagine, to a billion. he feels like there's other mountaintops and maybe that's politics. what i'm always interested in, stuart, and i'd talk about it with you is who you are as a man, i mean it. he's a fascinating guy. i mean, his family, his legacy, how he feels about what he wants to leave on this earth, what motivates him. my favorite question i liked him, likability is a poison. everybody eick -- can likes you, so what do you believe regardless of its popularity. and we getnto it. check it out, will cain show, youtube, foxnewspodcast.com. you'll get ap an hour plus.
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stuart: that's called a good get. >> he has 397 million intragram followers. -- instagram follow's. stuart: will, you're ought. all right. see you soon. it's pretty morning, we've got a very, very modest rally going on. david bahnsen, are yields on treasuries too high to allow a solid stock markettal rally from here on out? >> well, obviously not. stocks have gone up for years and years with yields higher than this. it's just that the direction of interest rates matters. with where they end up settling is less important as are yields headed higher? that i affects markets more than where they land. i think, ultimately, long-term yields are coming lore, but i don't see that as a good thing. i think it's because we have too much government debt to get the growth we used to get, so bond yields are structurally lower. but right now can markets rally at, to 4.5%? they did all last year. they were up 25% with the so --
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10-year over 4% so,ing yes, they can. stuart: president biden making another attempt at student loan forgiveness. seems like more vote buying, that's my opinion, vote buying, that's what i think it is. we're going to get into it. biden called for an immediate ceasefire in gaza. he warned netanyahu that american support for israel hinges on their policy changes. the full story after this. ♪ ♪ after advil: let's dive in! but...what about your back? it's fineeeeeeee! [splash] before advil: advil dual action fights pain two ways. advil targets pain at the source, acetaminophen blocks pain signals. advil dual action.
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stuart: friday morning, we had a strong unemployment report, and the market is still up.
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dow's up 30, nasdaq up 50. president biden called for an immediate ceasefire during his call with prime minister benjamin if netanyahu. he also warned of a possible change in our policy if israel does not, doesn't do more to address the crisis in gaza. mark meredith at the white house. mark, what else is the white house saying about that call? >> reporter: stu, good morning to you. well, today we're hearing from the biden administration if which says they are thankful for the news from's e real that it plans to expand the amount of aid a that is going to get into as saw saw a -- gaza, but they need more of a commitment from the israelis to to protect civilians caught in the crossfire for a war that's stretched on for almost six months. >> so what a we're looking to see in the days and weeks ahead is prioritization, surging humanitarian assistance, sustaining it, getting it to people who need it. >> reporter: the white house is under increased pressure including from some democrats to
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bring the war between israel and hamas to the end. those calls only growing louder this week after israel's military airstrikes which killed seven aid workers including one u.s. citizen. today the israelis announced it's fired two senior military officers over the incident. on thursday the president spoke by phone with his israeli counterpart, benjamin net an ya human the president calling for a ceasefire and vowing to still support israel. still or white house officials admit these are complex if times. >> he can continue to have a rock solid, unwavering support for if israel because of the neighborhood they're live anything and the threats they're facing but take issue with the way in which they are conducting these particular operations. and that's the discussion that they had yesterday. >> reporter: today we are hearing from critics including some house republicans who say that the warning should actually be going towards hamas as opposed to the israelisful we'll see 23 if president -- if the president responds if when he goes to baltimore later on today. stu? stuart: thanks very much,
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indeed, mark. take a look at this headline from the washington post. moreover -- morgan ortagus joins us now. despite being the victim e, is israel now completely isolated? >> well, they certainly are support still of the majority of the american people, but essentially, yes, to answer your question. and the biden administration, stu, is housing that to happen. allowing that to happen. if you want to actually get to the ceasefire, the only way to do so is to put pressure on hamas p. and what's really unfortunate is that the biden administration was standing strong with israel early on and saying that humanitarian pauses, temporary ceasefires could only happen when the host averages are returned -- hostages are return uh-uhed. what's amazing yesterday when i listened to all of the press conferences across the white house and across the agencies, they never talk about the five americans that are still held hostage, they don't talk about bringing the hostages home. a ceasefire if could happen today if the hostages were
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brought home, stu. and it's not even something that the administration even talkeds -- talks about anymore. it's unconscionable to me puts the hostages in more danger can. look, guess who rejected a ceasefire yesterday? it was hamas. the only way you get to a real ceasefire so to the bring the hostages home and to pressure hamas. this is not hard. stuart: israel, i think, has lost the pr war, but could they still win militarily? >> sure. i think is so. you know, they're going to have to go into rafah. i wrote a piece about this last week published in "the hill," and essentially i said israel should ignore biden and go into rafah. we are not -- listen, israel is not a vassal state of the united states with. we are partners, friends, allies, we'll give them support, but they don't have to run their war planses past us. what they have to worry about a, as every nation does, is the safety and security of the israeli people. and their entire war cabinet said they were not going to rest until that has if was destroyed.
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there's anywhere from probably 4-6 battalions left, most of them are in rafah. it's going to continually be an ongoing fight, but they're -- i don't see how they finish off hamas without going into rafah. and by the way, if you get any of the gulf arab states or anybody in the region who has declared hamas a terrorist organization as many countries in the middle east have, they also want israel to finish hamas if. stuart: trump says end soon, direct quote, get it over with. that's to exactly what he said. you served in the trump administration. how do you feel about what trump just said? >> i think he's saying get it over with in terms of killing hamas, get with it done. the longer you drag it out, the more risks 24r-r to civilians. and i agree with that. b binetanyahu and and his war cabinet should have gone into rafah if weeks ago and ignored the administration. that's part of the problem, by the way. these are the same people who have tried to help oversee the war in ukraine, and now we're looking at two years into the
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war in ukraine. and the biden administration, what could they have done there? front-loaded all the military equipment that the ukrainians needed. they didn't do it. so what do they do around the world? they prolong these comments. i agree with the former president. stuart: 30 seconds. do you think biden will lose a substantial the portion of the jewish vote? >> you know, well, first of all, we're not a substantial portion of the vote writ large, so i'm not sure -- stuart: no, i mean, just within the jewish population. >> it may affect -- stuart: i mean the jewish peopl- >> i hope so. i don't know how. listen, i'm a jewish-american, i don't know how you can vote for this administration after they've turned their back on israel. stuart: got it. thanks very much for joining us, morgan. come back soonful you're right in the middle of the action, we appreciate it. thanks very much. secretary of state antony blinken said the ukraine will, will eventually join nato. okay, what's the timeline? if. lauren: eventually. it's a show of support for ukraine who needs money and
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weapons to keep fending off attacks from russia. but clearly, membership is not imminent, and nato will celebrate their 75th anniversary in washington this july. ukraine won't be a member. stuart: check futures, please. strong the unemployment report, but the market is still going up. look at this, dow's up 45, nasdaq up 51. the opening bell is next. finish. ♪ ♪ and i recall what she said, that she wanted me dead ♪ there ain't no grave deep enough. ♪ remember all the nights we had, you used to say it ain't so bad. ♪ keep those heavy eyes looking up ♪ trading at schwab is now powered by ameritrade, giving traders even more ways to sharpen their skills with tailored education.
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stuart: on the markets this morning, strong unemployment report. dow's up 60, nasdaq up 66. mark mahaney op on the show right now. mark, i want to talk about spotify. it's currently, what, $300 a share, 298. what's your target price? >> it's hit it. it's at my price target, roughly $290. we've had a massive move in the stock for a couple reasons will be. they finally have turned the corner on kind of sustainable profitability which is a key catalyst across tech, and they've shown pricing power. when you get these consumer-led
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companies that show the ability to take up pricing not in a negative way, but the value proposition is strong enough that most consumers willing to symptom the act a dollar or two price increase on a monthly basis, when that happens, you've got an asset that's really proving its staying power. that's why the stock has run to where it is. our price target, it's a small buy for us. i respect the franchise, i'm looking for better longs. stuart: you're a popular guy, mark. i mean, you got that right. you got spotify right at 290. anybody who took your advice made a great deal of money. now let's turn to amazon. they are nearing an all-time high, and you have consistently said amazon is the stock to watch, and it's going to go higher still. have you got a new the price target? >> no, i'm sticking with it. i'm at $220. amazon is my favorite stock here. so i just, you know, said i'm looking for stocks where i still think there's a lot of upside. i try to find dislocated high quality stock, there are very few of those today in tech.
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we've had a big rally over the past 18 months, so you should be more cautious, more moderate with your stock selection now. but i still like amazon here. i think we're going to have this accelerating growth in cloud computing, what hay call aws, amazon web services. i think you're going to have record operating margins for their retail business and record free cash flow margins for the company as a whole. having tracked amazon for that years, often times you get a rerating, the multiple goes higher. you take the stock at a 25 times free cash flow, you could get $100 upside from here. i don't need to be that greedy about it, but i do think there's a solid 25% upside from the here without getting super aggressive on the multiple a based on those three fundamental catalysts. stuart: you've been following amazon 25 years? that puts you all the way back to when they first went public. [laughter] >> yes, it does. stuart: the i remember interviewing jeff bezos way
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back, when they were basically booksellers. he was always smiling, and this concept of, well, he could sell anything, it will be the amazon of retailer, i just could not understand that. he came through. he's a brilliant ceo, i think. >> he's, i think he's one of the best entrepreneur of our generation. now, he's stepped aside, but it's amazing what that company's done. there was a huge amount of risk involved and nothing was proven. i don't think it was a core long until, you know, maybe 10 years after its ipo. so til 2003, '6, '7, e '8, something in there, that's when you knew it should be a core long. fascinating company, but with i like the stock right here, ooh right now, stuart. stuart: next time you're on, i want a core long from you, okay? got that. the market is now open. well, not yet. i hear the bell ringing. come on, press the button, please. there you go. there, do it. thank you, all right. the market is now open, and and we've opened slightly higher. [cheers and applause]
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not quite the gangbuster that we might have expected, but the dow is up 11 points, .03%. equal split between winners and losers. i've got to tell you, or i'm surprise frommedded at this because that was a very -- surprised at this because that was a very strong unemployment report. still the market ekes out at least a small gain. what have you got to say? lauren: well, i was thinking of what neel kashkari said yesterday, and he said no rate cuts perhaps this year. stuart: that upset everybody. lauren: i'm not sure the market believes the data for or the fed's interpretation of the data. stuart: let's have a look at the s&p 500, also opening ever so slightly higher, a quarter of 11%. 5,100 on the s&p. and the nasdaq composite, where is that? if up a third of 1, 16,100. we always show you big tech at this time, and we're to showing it to you now. amazon, meta, apple, microsoft up. alphabet is down all of11 cents.
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apple, david just -- they just announced layoffs. lauren: it's coincidental. 614 employees will be let go, specifically in california in santa clara. that's where the icar was housed, okay? first major job-cutting round for apple. since covid. it's all part of their pivot to investments and focus on generative a.i., that's their next big thing. the report yesterday e that we did with the apt i. robot following you around your house -- a.i. robot. and, look, it's crucial to turn around these shares which are down 12% this year when the rest of the magnificent seven minus tesla is up big. stuart: i don't think 600 layoffs makes a big deal for the stock price -- lauren: but it's rare for apple. stuart: that is true. i'm sure hay got a good payoff. nvidia, they're planning to build an artificial intelligence center where? lauren: it's in indonesia. think southeast asia. it's a partnership with a local
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telecom there. $200 million investment in southeast asia, that's significant. they also want to get talent, right, nurture the talent that's in the area. so nvidia is up, the other chipmakers are up, and the reason is samsung. they expect a tenfold up e crease in their first quarter operating profit because of strong demand if for their a.i. chips, so i think that's what's e boosting not just nvidia, but the chipmakers in general. stuart: right now i want to look at a retailers. some retailers are reporting heavy been paying their vendors late. that's not a good sign. lauren: no. sa aks, express, peloton, bath and body works. s this is an early sign of distress. it doesn't mean anything right now, but it could. it's insightful for two reasons are. if you can't pay your vendor on time, you obviously have an issue with cash flow, right in that's fair to say. and it means you don't have a good relationship with your vendor. in turn, you might not get the goods when you want them, so you
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won't have stuff on your shelves. and the venn doors might also demand payment upon neverly which doesn't always ap happen. not a good sign for these retailers or retail in general. stuart: let's talk about the evs. they're not looking good, and and i understand that one of the big problems is the resale value. lauren: you know, i heard about depreciation for evs often, but now there's numberses on it that shocked me. this is from a used car web site. it said the average price of a 1 to 5 -year-old used ev fell 31.8% in the past year. down 32%. that's $14,000 lopped off the price of the car just like that sometimes in a year where. gas cars ross about -- lost about 3.6% of their value in that same time period. so if evs don't hold their value, that could further weaken demand, right? stuart: sure is. lauren: and the question is, why are they depreciating so fast. is it the technology or is it
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this environment where evs are not as popular? stuart: they don't last forever, the batteries, and they're expensive. lauren: yeah. stuart: krispy kreme, the stock is up concern. lauren: audiotape -- ooh, up 9. growth catalyst, partnership with mcdonald's. crest by creme selling in mcdonald's. superstuart invite them on the show, we'll get dozens -- lauren: do you have a favorite? stuart: no, i don't. wells fargo raising the price target for c cinemark, i don't really care. lauren: they double upgrade requested cinemark. they went all the way from sell to buy, and the reason is movies are back. they looked at the movie slate for this year and next year, they count 76, and a lot of them are really good. fall guy, inside out 2, despicable me 4, deadpool, wolverine, these are big,
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blockbuster or titles that are going to put people's butts in the seats, and they like it. they say this 2024 holiday could be the best since covid. stuart: okay. lauren: so movies are back according to them. stuart: we've got to check the big board because we now have a gain of over 100 points on a day when the unemployment report shows some real strength in the economy. you're up 105 point, 38,700. the winners, amazon is at the temperature of the risk, $182. s&p 500, the winners are paramount, conagra, general air a prospace, generac holdings and old dominion. and nasdaq winners, a a sml, marvell, applied materials, lam research. no real big names there. the 10-year treasury yield is moving up to 4.38%, but is still the market rallies. checking gold, i think we've got a brand new all-time high, $2,315 an ounce.
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bitcoin, $67,100. oil, $86 a barrel with. 86.91. creeping up. nat gas, is it close to $2 yet? no, $1.79. the average price for a gallon of regular, watch out, it's up 2 cents overnight, it's creeping higher. as for diesel, that's up 1 cent at $4.04. coming up, not too late to send in your friday feedback. let us know what you think think of the show this week, varney viewers@fox tom. cnn suing to get the transcripts of biden's -- with robert hur. is cn if n beginning to change its political stance? we're on it. texas governor greg abbott, extraordinary thely concerned about terrorists crossing the southern border. roll it. >> but we are extraordinarily concerned about a terrorist attack occurring in texas or elsewhere in the united states because of the terrorists who are crossing our border at will.
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stuart: well, do we know who these terrorists are or where they are? chad wolf on that next. ♪
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stuart: 12 minutes into the trading session, the dow's up 600. caterpillar, microsoft, visa, travelers, they're all dow stocks, they're all up, and collectively they're adding 70 points to the dow. so without 'em, the dow would be down. texas officials will be installing razor wire along the rio grande in el paso. that sector's one of the busiest for migrant crossings. there were 1,000 per day this week. matt finn joins me, he's in el paso now. if it's 11,000 a day, has the razor -- 1,000 a day, has the rah razor wire really slowed down the flow? >> reporter: well, we have seen some of this razor wire deter migrants, stu. i don't know, they really have to second guess whether or not
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they want to crawl through this life-threatening razor wire. anding see behind me this stockpile is readily available for the texas national guard. today they're going to continue their mission of installing the anti-climb barrier fencing and the concertina wire. and the texas governor, greg abbott, he was in new york last night where he said he began this wire mission on the far eastern side of texas, in brownsville, he then moved to central texas, eagle pass and the shelby park area where the biden administration is fighting governor greg abbott over the concertina wire. and now the wire mission is here in el paso. the far western side of this state. >> i told the national guard i don't want you to double down on the amount of wire we have on the border, i said i want you to triple or quad ruin aring the amount of razor wire on our border to make sure that no one is going to be able to get in there. >> reporter: now, here in el
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paso the majority of migrants crossing are are mexican and vends wail land, but primarily in california this is been a surge of chinese nationals. more than 22,000 so far this fiscal year. that's up are from just 342 chinese nationals arrested at the border in fiscal year 2021. some chinese nationals that fox has talked to say they're primarily here to give their children a better life, and they are not concerned about illegally crossing into the united states, they say because they'll find a way to stay here. and many of the migrants that we talk to in eagle pass and el paso say the same thing, they're going to figure out a way to remain in the united states. stu. stuart: i'm sure they will. matting thanks very. texas governor abbott warning about the threat of terrorism from the southern border. watch this. >> last month the fbi director talked about a potential 9/11 type terrorist attack because of the terrorists who are coming across our border. the chief job of the president of the united states is national
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security. the president, biden, is failing at national security. we are extraordinarily concerned about a terrorist attack occurring in texas or elsewhere in the united states because of the terrorists who are crossing our border at will, unstopped by the biden administration. stuart: all right. chad wolf joins me now. chad, do we know who or where these terrorists are? >> we don't. obviously, these are individuals that get away as they cross that border, and they go into different parts of american communities every single day. even the individuals that cross and we apprehend and then release, we don't know where they are at either. so once folks make it here into the united states, we try to do some level are of vetting, but we don't know where they end up because they have the ability to freely go anywhere in the united states. stuart: i don't get it, chad. honestly, i really don't get it. it's an obvious terrorist threat. we're under frosh from all over the dub pressure from all over the world. we've got millions of people, we don't know where they are.
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i don't know why this isn't a bigger headline. why not? why isn't the administration jumpingen on this and doing something -- jumping on this and downing manager which would put them in good political standing? >> well, i agree with you, right? we've had the fbi director last december and then he testified again just a month ago, and and he's essentially saying all the lights are blinking red. there is going to be some type of incident here. then you combine that with the chief of the border patrol, someone asked him what keeps him up at night, and he said the gotaways, the national security threat facing this cup because of what we've seen over the last three years. and so you put those two together and, oven, some other obvious statistics, and you've to got a real concern here. the biden administration knows this. they have the same data, the same metrics, and yet they continue to do very little, if anything, along that border that's different, that's trying to disrupt the cartels and the smugglers and any would-be individuals that want to come into the united states and and do us harm. it's business as a usual, and
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individuals still continue to flow across that border in record numbers. stuart: and we've got to work out what we're going to do with the millions who are already here. chicago's mayor, brandon johnson, he wants president biden to grant work permits to about a half million if illegals. i don't see what else we can do here. i mean, if we don't let them work, what do we do? if they sit around all day for years and years and year, we pay for them to eat, sleep, medical attention, all the rest of it, they have to work, don't they? >> well, i certainly understand the mayor's concern. he's concerned about what happens when they arrive here and they're in cities like chicago and elsewhere. my point is we've got to stop this surge from even arriving into the country because once you start handing out work permits, once you start expediting those work perms, guess what? -- permits, guess what in that becomes an incentive factor for more and more to come into the united states, and they're going to believe they're going to get a work permit very quickly or
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expedited in some case. when you continue to provide these incentive factors, you're going to encourage and more of this illegal immigration and migration that we see here. i understand having to deal with them while they're here, but you've got to address the issues along that border and the policies that will slow down this incredibly high flow so that we can get our arms around what's going on and address it. but just continuing to hand out work permits as thousands and millions come across that border, i don't believe that that is the answer to solve the crisis. stuart: i can see it. chad wolf with, thanks very much for being here. always a pleasure. see you again soon, thank you. there is one county in colorado fed up with migrant buses being sent there from denver. what are they doing about it? lauren: it's douglas county, 45 minutes from denver so, you know, it's a place that you could just drop off migrants. they're saying, oh, no, we're going to sue you, bus company, if you're going to do that. >> no more freeloading. denver got on the bandwagon of the anti-trump if fad of
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declaring sanctuary city early among democrat citieses across the nation, and we're not a democrat county. we're a community that is mostly republican. we were never going to be a sanctuary county. we thought this ordinance was required to make sure that we can keep our community safe. lauren: it passed in less than 30 minutes. the bus companies could be fined $1,000 per passenger, so we're talking about $40,000 per bus or have their buses seized by the local sheriff. but that county doesn't want to look like what you're seeing in denver. well, that that's new york city with the tents you saw. denver's overflowing and running out of space and money. stuart: all over the country, same story. a violent split at at the democrat convention this year could lose them the election. a sizable bloc within the party vigorously a ecoposed biden's israel policy. it would be ironic if the democrats lost in '24 because of chicago riots over israel like the democrats lost in '68 at the
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chicago riots over vietnam. that's my take, top of the hour. when is the best time to retire? [laughter] good question. and and how much do you immediate e to retire comfortably? ashley webster went to the villages in florida to find out. ashley is next. ♪ red solo cup, i fill you up. ♪ let's have a party, let's have ♪ why can't they use my backyard!! with empower, we get all of our financial questions answered. so we don't have to worry. empower. what's next. this small thing, is the next big thing in diabetes. woah. it shows your glucose, and predicts where it's headed, just like that. it's not magic, it just feels that way. i wanna make you go wow, make you go wow, make you go wow. we really don't want people to think of feeding food like ours is spoiling their dogs. good, real food is simple.
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stuart: and the survey says? you need $1.46 million to retire comfortably. ashley webster is in the villages in florida. you're talking to the diners there the and the village people. [laughter] what's their magic number -- [laughter] ashley: well, that that's a very good question it's changing all the time, or stu. and and as we we know, it's heading upwards. $1.46 million. a lot of people falling short of that. in fact, a principal survey released -- federal survey for people aged 55 to 64, according to this fed survey, 43% of those have no savings. and as you mentioned, the villages here is the fast e growing urban area -- fastest growing urban area in america. but the ability to reretire getting harder and harder. come with me. we're outside the flying biscuit café, and i ran into roger here.
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roger, great to see you. and roger's best friend, ripley. ripley is, apparently, already retired. roger, are you retired? if so, is the high cost of living hurting? >> no, we don't really -- i don't really see it here that much. ashley: yeah. but did you have to put off retirement? if. >> dud i have to what? ashley: put off retirement? >> well, i'm 80 -- [laughter] so -- and i just retired. ashley: you just retired? did you work all the way through to 880 and why? >> yes. i had my own business. ashley: but a lot of people having to work longer each though they don't want to. >> absolutely. i see people here who are cashiers is and who are working as waitresses and people all over to get odd jobs just to supplement their income. ashley: roger, thank you very much. ripley are, thank you. just want to jump in over here very quickly. i met a lady here, stu, you retired at 55. how did you do that? >> i did.
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well, i did a lot of planning. i set a goal to retire early, and i was lucky to work for a good company and was able to do it. we bought our house in the villages fairly young so that when we retired, it was paid off. so that helps. ashley: you bought a house in 2006. wow. you know what? it's not easy to save these days. other people not earning enough money to put it away. >> yeah. and if my husband does still work, so that rowed -- allowed me to the retire earlier. he goes back and forth between rhode island and the villages. we just picked him up from the shuttle -- >> life is good. ashley: very good. thank you, guys. it's interesting, stu the. we've heard a lot of stories of elderly people working in convenience stores and, you know, gas stations because they need to make extra money. there's social security and savings, it just doesn't cut it anymore. you are extremely famous in the villages. everywhere i go, say hi to stu. for everyone here, stu, hello. stuart: thank you very much.
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very nice to say. and my best regards to all the village people down there in florida. [laughter] the village people has a different connotation elsewhere, of course. [laughter] ashley, thank you very much, indeed. still ahead, tammy bruce, retired four-star general jack keane, clay travis, raymond lopez, chicago alderman. the 10:00 hour is next. so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch .. those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management.
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