when you decide on something today that's going to hit something in the winter, essentially. maria: yeah. >> and that is so misguided that they're just creating a lot of uncertainty. this is the agency that's supposed to be, you know, creating certainty in financial markets, but they're probably the biggest source of uncertainty finish. maria: exactly. let me just clarify. the pce is not next week, it's the following week, the 26th. so we will have all hands on deck. next week, earnings will drive the conversation. want to thank everybody for a great conversation, tomas, congressman, mark, cheryl, thank you, everyone. finish great work, as usual. we've got a market that is mixed going into the opening bell, 30 minutes away from the bell. let's get right to "varney & company". stuart: good morning, everyone. it is inflation, day two. markets and biden on high alert. all right, here's what we have, producer prices -- that is, the prices paid by business -- up 2.1% in the 12 months. now, that is an increase in the rate. maybe means interest rates will

stay higher for longer. we'll see. in march producer prices up .2. now, that's a monthly reading, and it's down from the reading in february. so overall a, i'm going to call this a softer reading on inflation than at the consumer level. the markets sold off when we received that bad consumer inflation news yesterday. today we were down early, now some stability. the dow looking for a gain of about a 16 points, up 7 on the s&p. the nasdaq though, 63 points higher. that's before the market actually opens. all right, interest rates, big deal here. already at elevated levels, the 10-year well above 4.5%. 4.53. the 2-year closing in on 5, or at least it was earlier, but you're still at 4.93 as we speak. if bitcoin back to 71,000. all right, $70,800. and talking about inflation, energy prices keep going up. look at gas. $3.63, on average, up another 2 cents overmight.

it's creeping higher all the time. diesel, no change at $4.05. politics. an unreal response from the president. he shrugs off inflation. it's better than it was, he says. he also said prices were skyrocketing before -- when he took office. that's simply not if true. a seed da tlaib refuses to con them the death to america chants in dearborn, michigan. she is the face of a dramatic split in the democrat party. hamas appears to be winning. on the show today, the u.s. warns israel that an attack from iran is imminent. what support will biden show for israel? what support will the democrats give to israel? the fbi director, he's about to testify on capitol hill. we've seen his statement. he can't think of a time when america faced greater terror threat. and nassau county just outside new york city plans to deputize private citizens in case of a serious emergency. it's come to this. a militia to to back up police in the face of a crime surge and

a migrant invasion. how about that the? thursday, april the 11th, 2024. "varney & company" if is about to begin. ♪ ♪ ♪ can you take me higher? stuart: what's this? take me higher? something like that? by creed. okay, this has something to do with inflation, i guess. not that bad with. let's start thursday with the latest read on inflation. we have the producer price report. good morning, lauren. lauren: good morning. stuart: talk us -- take us through it. lauren: it factorses down to what you pay, consumer price. ppi up 2.1 annually. focus in on that, that is the biggest gain since april of 2023. let's take out the volatile food and energy prices, that's the core ppi, it rose 2.4% annually in march. also more than expected.

the increase in march was led by services, think investment fees and the like. stuart: okay. the markets have not taken it on the chin like they did yesterday. lauren: no. the 2-year yield went down to 4.95, 4.96% after that report. stuart: this time yesterday, sharp selloff on the market. this morning, well, there's a little be bit of green on the board. no red, a little bit of green at the moment because these are softer inflation numbers. lauren: they are, but fed likes to look at yet another flakes number. inflation number. pce. stuart: next week. lauren: to they all tell the same story or not? we look for the trend. stuart: right now the market's not reacting badly to today's producerrer price index. luke lloyd watching the market for us. was yesterday's big selloff an overreaction to the consumer price news? >> it probably was just like today is probably a little overreaction too. at the end of the day, what a

lot of investors are concerned about is the reaction of oil prices over the past couple of months with oil close to $90 a barrel. and $90 oil there trickles through every aspect of the economy, so i think that's what people are concerned about going forward. what's interesting is not all oil -- oil is not one of the biggest inputs to inflation like it used to be. 234170s, 1980s, the shock to our economic system was huge because oil prices played a huge part. now with i how efficient our anyone gins are, it's not as big of an input. deficit spending right now a trillion dollars every hyundai, so until that gets pulled back, inflation's going to remain a top concern and is still going to hit middle class america. stave stuart okay. if it's still a top concern, has the bull market run into a pause? >> i, i don't necessarily think so because at the end of the day we have this unhealthy obsession right now with interest rates and with inflation, what the

federal reserve is going to do next. and at the end of the day like we've said for, you know, a year essentially, rate cuts are actually bad for the economy because that means usually something breaks. so if the federal reserve stays at this higher interest rate level while the economy is firing technically on all cylinders, that's a good thing for stock owners. at the end of the day, all inflation does is rob middle class america and puts more money into those that own stocks. those top couple percent that actually own stock, that own companies. because if at the end of the day too, middle class america is debt spending. they are spending on credit cards, they are e spending on debt, and this access to debt is large. if this continues to happen, you want to own stocks. stuart: okay, we got it. hugh lloyd, thank you very much, indeed. yield on the 10-year, 4.5%, just above. president biden spoke about a fed rate cut after yesterday's hot inflation report. what exactly did he say, lauren? lauren: still expect the fed to cut, but they might be delayed a

little bit. watch here. >> i do stand by my prediction that before the year's out, there will be a rate cut. i'm not sure of that, we don't know what the fed is going to do for certain. but, look, we have dramatically reduced inflation from 9% down to close to 3%. we're in a situation where we're better situated than we were when we took office where inflation was skyrocketing. and we have a plan to deal with it. lauren: okay. i'd say he kept his cool there after three straight months of rising inflation. and that jeopardizes his re-election plan, right? stuart: his cool? lauren: i think he kept his cool. stuart: that's wishful thinking. he wants help before the election. lauren: of course. the markets are saying you're getting two rate cuts, the first coming in september. and did you hear what larry or summers said? if. >> yeah, rates up. lauren: he called cutting rates potentially in june, quote, dangerous and egregious. that's how bad inflation is. that's why i think the president kept his cool. he should be mad about this

because this puts his re-election in jeopardy. how am i wrong on this? stuart: i wouldn't dare to say you're wrong. lauren: yesterday i paid $8 for a half a gallon of milk. $7.99. stuart: okay. you prepared to move on? [laughter] donald trump made a stop at a chick-fil-a in atlanta. very popular. watch this. >> i don't care what the media says about you, mr. trump, or we support you, okay? if. >> i mean, let me give you a hug. [laughter] [cheers and applause] wow. >> thank you! i gotta tell my mama i made it! [laughter] stuart: ladies and gentlemen are, we are joined by rising star, lawrence jones is with us this morning. [laughter] what we just saw is something that president biden and the democrats do not want to see again. black folks embracing trump. >> well, it's also something

that joe biden doesn't have the ability to do. he can't -- joe biden right now is doing the same thing with these kitchen table dinners where trying to go out to the country and talk with the voters. but it's heavy ally scripted, choreographed. they try to keep him insulated. this is just an authentic moment where he's talking with the people. he's literal wily asking them, are you republican? doesn't know the answer, and some people say yes, and he's asking about a money. this reminds me of donald trump, the hip-hop guy. remember, all the a rappers, celebrities, loved donald trump before he decided to run for office. he was the guy because everybody wanted money. it's the great unifire, the great equalizer -- unifier. it's money. if donald trump can go back to that 2016 donald trump going out, talking with people, getting this new coalition of republican if voters -- and, by the way, stu, it's in the polling now, the amount of hispanics that are supporting him, back men that are

supporting. it's predicted he may get 27% if of the black vote is. now, if that happens, it's game over. stuart: game over, yeah. >> so the once coalition of joe biden is broken apart. they're going to donald trump. of now, the question is what is the gop going to do to get to support all the noise you're hearing, the rumbling of support for donald trump to the polls? if they have of a get out the vote operation, it's game over. stuart: that's interesting. i've got another one for you. at his press conference yesterday, biden once again had hi list of reporters with prepared questions who he was supposed to call on. watch this. >> third, next question, who do

i call on next? hang on a sec, i've got my list here. hang on. i apologize. af if p. stuart: lawrence on this program i've made a point of pointing out president biden's physical and mental difficulties. am a i being harsh? am i piling on? >> i think you were being harsh if donald trump had appeared notes as well and had the answers to the questions as well. or let's not even say donald trump, let's go to another world leader. maybe the guy he was standing next to, the japanese prime minister. where was his notecard? when i was looking at the press conference, of course it was jarring to see that. but the contrast compared to another world leader, i thought it was kind of disgraceful to see that our president is not prepared for it. you got a guy that's not in his country that is prepared, doesn't need notecards and is speaking a different language. voters see that.

not the pundits, voters see that. and, by the way, it's not a democrat issue or a republican issue, it's a united states issue when 70 percent of americans question not his age, but his fitness for office. stuart: lawrence jones you, sir, are on a roll. >> thank you, brother. it's so good to be back. it's been a little bit with. i only come because lauren invites me, okay? if. stuart: you're outta the or here. [laughter] >> thanks, brother. stuart: check futures, please. a softer reading on inflation, and the market is up just a little this morning. dow 50 points higher, nasdaq up 77. coming up, squad member rashida tlaib refused to condemn the death to america chants that took place in her district. roll tape. >> reporter: do you condemn chants of death to america? >> i don't talk to people who use racist tropes. >> reporter: why can't you just say whether or not you

condemn -- >> she called the question racist. more on that, believe me. florida estimates it'll cost the state a billion dollars to cover health care for migrants. how does this play out for other states? do they just keep on paying billions? if congressman mark green on that next. ♪ if you have wet amd, you never want to lose sight of the things you love. some things should stand the test of time. long lasting eylea hd could significantly improve your vision and can help you go up to 4 months between treatments. if you have an eye infection, eye pain or redness, or allergies to eylea hd, don't use. eye injections like eyla hd may cause eye infection, separation of the retina, or rare

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♪ stuart: thanks to a new law signed by governor desantis, florida has start thed tracking the medical costs of migrants. danamarie mcnicholl joins me from movement how much has florida been spending to cover migrant health care?

>> reporter: varney, that's a great question. good morning. well, the state estimates in florida that last year it cost them about a billion dollars in uncompensated care. as you mentioned, that brand new law signed by governor ron desantis, public hospitals are now required to ask patients about their immigration status when today check in. based on those answers, 54,000 illegal migrants disclosed they visited a hospital from june to december in 2023. finish costing florida an estimated $566 million in just 6 months. now, it is important to note that dollar amount is based on the assumption that all illegal migrants did not pay for their care after these the hospital visits. immigration advocates say that's a deceitful assumption to make. the report states over 480,000 patients refused to answer questions about their immigration status. the florida immigrant coalition spearheaded a decline to answer campaign.

>> we certainly did the work to let the community know that their immigration status is their business with, you know, and not the government's business. >> reporter: but because of that, state health care officials say the overall cost of illegal migrant health care is likely much higher than reflected in the report. lee aring hospitals on the hook -- leaving hospitals on the hook for up paid bills. >> this is a direct effect on the burden on taxpayers. this is the, again, unpen sated care. so -- uncompensated care. it's usually going to fall on the backs of hard working floridians. >> reporter: and florida right now is believed to be the only state tracking this type of data. and because of this, number crunchers say there are just way too many variables to get a good estimate on how much it could cost nationwide for unpaid health care of all legal migrants, varney. stuart: thank you very much,

indeed. tennessee congressman if mark if green joins me now. congressman, how does this play out? does state after state have to pay out like this for illegals? >> yeah, absolutely. stuart, we did actually the look at the national level costs during our five-phased investigation if of the open border, the impact on the country. one of those was the financial cost. total financial cost to the country, $451 billion. but the health care piece of that, the uncompensated health care -- and you have to add in other, other costs in the health care. for example, let's say an illegal immigrant comes into the u.s., gets a dui, they're in a yale and they have a medical issue. the county -- in jail. the county pays for that. it's not listed under this law, so the number's actually much larger even for florida. i appreciate governor desantis doing this, but, yeah, it's in the tens of billions of dollars for the country. stuart: let me get this clear here. the feds, the federal government, does not reimburse

the states for migrant health care costs. so -- >> no. stuart: -- it's the state that's on the hook for billions. state people have to pay. >> absolutely. it's actually the person who has health insurance because what happens is, is the medical providers cost shift to those people who have health insurance. is as health insurance premiums skyrocket, it's because of all the uncompensated care illegal immigrants and others. stuart: i'm going to change the subject for a second. four migrants were arrested for allegedly robbing a new york city target store. they injured a police officer. they've been picked up by i.c.e.. that's important. it's a sang cue ware city. i.c.e -- sanctuary city. is this a change in policy? because i.c.e. was not supposed to do this just a few days ago. >> yeah. so there has been a significant shift at the white house. they recognize that this issue is a political, you know, death sentence. i mean, it's an 80-20 issue. and even the president himself is making these very vague

comments about taking some form of executive action. and then, of course, he flips it back on congress and tries to suggest it's a lack of legislation. but there's plenty of laws out there. the law that specifically says for those sanctuary cities that i.c.e. can detain people, take people out of jails and deport them has been on the books since i was a state the senator eight years ago a, more than that. so the fact that they're just now doing this is unfortunate, it's tragic. there's a cost to it. but, yeah, they need to do it. stuart: top michigan democrats including governor whitmer and congresswoman rashida tlaib, they refuse to condemn protesters who chanted death to america. you're on the house homeland security committee. can you do anything about this? >> well, we can certainly educate the more than people that the there are people in the democrat party who really don't care, they hate america. i mean, they are with the palestinians who are out there protesting against what's

happening, they're joining in this chorus. we actually had a member of congress who assisted one of those protests against israel in its actions against hamas inside one of the office buildings here in congress, she actually assisted them getting in order to do that protest. so, look, they're a huge part of the democrat party who hate our country, and they want to -- much like they want to level the the playing field amongst people and individuals, they want to do it amongst nations. they think america has prosperedded inappropriately, and so they're all about bringing america down to make it equal with everybody else. stuart: let's get this out there. congressman mark green, thanks for joining us. >> always good to see you. stuart: yes, sir, thank you. former president trump and speaker mike johnson, or they're going to hold -- well, they're set to hold a press conference tomorrow. what's this about? if. lauren: reportedly, election integrity. yeah, exactly. okay. what does election integrity mean to you? stuart: harvesting ballots?

i don't agree with that. mail-in ballots accepted after election day, don't accept that. lauren: that's what trump wants to do the, more secure elections. mike johnson was an ally in boosting trump's claims of election are fraud back in 2020. so this is a presser together at mar-a-lago. in my opinion, it shows a sign of support for speaker johnson from trump whos' clearly still the leader of the party -- who's clearly still the leader of the party. you have marjorie taylor greene with that motion to vacate johnson hangoveringing over -- hanging over his head, and now he's standing with mike johnson together tomorrow. we'll see. stuart: thanks, lauren. it's thursday morning, early going we see some green, a lot of it after yesterday's big sell isoff. there is some green. the opening bell is next and we'll take you to wall street. ♪ ♪ i should have known it from the very start -- ♪ this girl will leave you with a broken heart. ♪ there's some people, well, i'm telling you -- ♪ keep away from if run around

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stuart: three minutes to go til the opening bell. dow shows modest gains, 60 points higher for the nasdaq. d.r. barton with us. okay, rising interest rates, rising inflation. give me a stock that works and

goes up in this new environment. >> well, one, i really like, stuart, for this environment we've got to remember the volatility too. we get bounced and whip sawed around a goodly bit in this environment. i love caterpillar. we haven't talked about that one for a few years. i've been a caterpillar fan for a long time. they fell i off a nice modeverything st dividend, been modest dividend, but they have their own financing for those monstrous equipment pieces that they sell all over the world for construction, mining, doing the paving of the roads that we see. they're going to be in high, high demand especially with infrastructure work coming on here in the u.s. stuart: okay. so caterpillar, that's one stock that might do well. give me another one. >> yeah. here's one that we did talk about recently, last july. we talked about micron. they are sort of the nuts and bolts, the memory of the a.i. revolution. how do we get all the extra that

memory that we need to fuel that revolution. micron is one of the leaders in computer memory. they have almost doubled, not quite,. since we talked about it last july. i still the like them here. little, teeny dave can tend but a really -- dividend but a really long-term growth stock the because we're going to need all that silicon in those chips to keep growing the a.i. world. stuart: let me can ask you this, when you guys who watch the market for a living, you sit back and at 8:30 in the morning you see negative inflation numbers come at you, what's your first thought? >> yeah. yesterday the first thought when hose numbers came out, stuart, was what do i have to move around. [laughter] and i was talking with a couple of traders and a couple of cycle experts when that happened. and everybody was looking at hedging what was going on. if a little bit different game. stuart: okay. keep a close kauai on it. you have to. -- eye on it. inflation and interest rates

move this market. d.r., thanks for joining us. the market is now open, and the dow has opened with a gain. you're up 100 points. we do have softer inflation news this morning from producer price index. that's helping, i guess. but we had a huge selloff yesterday, so this is a very modest bounce back with. dow's up 70 as we speak and and about two-thirds, almost three-quarters of the dow 30 are in the green. s&p 500 also opening just a little higher. no huge gain, about a quarter percent but we'll take it. and the nasdaq composite, that tattoo on the upside to the tune of .41%. show me big tech. all of them, please. let's have a look at what's going on there. most of them were down yesterday, but today microsoft, alphabet, apple, amazon and meta on the upside. apple's still below $170. closer look at microsoft, please. lauren, question mark, unveiling new if a.i. features, are they? lauren: next month. stuart: really? lauren: at a developers' conference. think the aipc. the ceo has said this year is

the year a. i'm sorry becomes a first class part of your computer -- a.i. he's going to take the stage next month. he will be joined by mustafa assume mono. microsoft is becoming an a. a.i. company. their going to have new features to unveil. okay, stock's at $425. morgan stanley says it's going to $520. they think their earnings will double in five years thanks to a.i. stuart: that would be retirement level for me. [laughter] okay, moving on. i want to know what the ceo of amazon, that would be andy jassy, what's he saying about a.i.? lauren: shareholder letter, third one. generative a.i. may be the largest technology revolution since the cloud and internet. how does amazon get a bigger piece of this a.i. pie. their cloud, their money maker,

amazon web services, provides access to a.i. technology for lots of companies. they also make in-house a.i. chips that are used to train the 56789i. models -- a.i. models. they also added an expert to their board of directors. he has major experience at google and baidu previously. when i think of amazon, i think of e-commerce. all the boxes on your step the every day. and andy jassy said for the first time in five years, amazon has reduced the cost to fill all of those orders that we get delivered. and that's amazing to me because you can get them, like, two hours after you purchased them. stuart: and a.i. helps them? lauren: i'm sure it's being used along the line, yeah. stuart: one of my favorite companies is costco. i know we had their sales numbers earlier. i take the it they did well. lauren: march was amazing. sales up 9.5%. $23.5 billion. easter helped, easter was march 31st this year. online sale, booming. costco.com up 28% in march, so

now costco is increasing their dividend by 14%. stuart: wow. the stock's at $727. not that long ago it was 500. lauren: keeps things interesting. remember the gold bars? costco travel is a thing. you can get discounts on vacations. free resort fees. it depends on what it is. there's the several different options available, but people are actually talking about this. costco travel. i didn't even know that existed. stuart: costco gold bars. they sold $200 million or 1-ounce gold bars at costco either a month or a quarter, one of the two. a lot of money. now, what's this about a apple vision pro? i always get mixed up here. that's the goggles. lauren: correct. the expensive ones. stuart: users are complaining of black eyes and makings. lauren: that's a tough sell. this device is 1.3 pounds. even facebook, mark subisser e berg said we hope -- zuckerberg, we hope that apple gets this right because if they do, we can sell. maria: of our much cheaper

oculus devices. but according to many users, they say it's so uncomfortable to wear them whether it's for 10 minutes or 2 hours, it doesn't matter. the official product if guidelines from apple, take a break every 20-30 minutes during the acclimation if period. so the fact that you have to acclimate -- [laughter] stuart: sorry. lauren: -- makes some people nervous. stuart: i just can't see me or anybody else wearing goggles. lauren: people are going to work through these devices in the future. you put them the on, you go to school, to work wearing these goggles. we're just not there yet. stuart: frank, on your camera, don't ever take a picture of me if i'm wearing goggles. i'm not going to have it. trump's media stock, djt. is that below the ipo price? lauren: it shoes -- sure is. the price was $36 march 26th, and now it's down 45% since then. that take a look at donald trump's stake in the if company. late march it was $5 billion,

now $2.69 billion. paper losses -- and, guess what, he is no longer listed on the bloomberg -- stuart stuart that's according to bloomberg. mr. trump will take issue with that, but there you go. google's launching a new feature that let ares you edit your photos with a.i.. lauren: yeah. stuart: can you give me an example? lauren: a magic eraser, it's called. you get a great picture of all the grandkids, but this is an ugly garbage can in the back. [laughter] you can just erase it. but you have a picture where so and so isn't looking up, you can move it in there. this is the perfect christmas card over and over again. i am worried for professional photographers. ing google is adding these a.i. tools to more devices. now it's for a pixel phone. who has a pixel phone? lauren: stuart: that's the google phone. lauren: yeah. it's going to tablet, iphones, and for the most part it is free. stuart: okay. nothing's real any longer, is it?

if everything can be changed. you know, slightly uneasy, isn't it? lauren: i know. stuart: i think we discussed this before. lauren: reality is elusive. [laughter] stuart: the big board shows a small gain for the dow -- lauren: that's real. i think. oh, now it's negative. stuart: that's real. it's down a tiny -- let's say the dow is dead flat. here's the winners, nike, amgen, apple, microsoft and salesforce. here are the s&p 500 winners, a good opportunity to check all your stocks here. nike, paramount global, warner grower -- brothers, arista -- lauren: nike got an upgrade. stuart: nasdaq winners, nike, atlassian, datadog, astrazeneca, warner brothers and amgen all higher today. the 10-year treasury yield, look at that, well above 4.5%. 4.54. the price of gold, record high, 15, 16 record highs this year, i think that's number 17 or 16, $2,361 per ounce.

bitcoin, you're at $70,700. oil actually down a bit today. yeah, down to $85 a barrel despite some new tension in the mideast. oil at 85. coming up, secretary alejandro mayorkas finally admitted, yeah, we have a crisis at the border. watch this. >> i do understand the challenges at the border, and i certainly don't dance around them -- >> would you call it a crisis at the southern border? >> we, i would. stuart: okay. so is there any change in border policy from this administration? border guy brandon judd on that. fbi director christopher wray says there are more elevated threats to public and national safety than he's ever seen in his entire career. we have details on that. the cost of owning a home skyrocketing. numbers people ups, property taxes -- premiums, they're all rising. is this the the new normal? a housing ebbs permit, mitch roschelle or on that next. ♪ i got everything that i need and nothing that i don't. ♪ home grown ♪

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stuart: all right. on the markets after 12 minutes' worth of business, kind of a mixed picture. the dow is down but the nasdaq is 62 points higher. big difference from yesterday when it was a huge selloff. there is a real estate crisis unfolding in downtown st. louis, missouri. what's going on in. lauren: "wall street journal" is calling it a doom loop. you have a downtown area of empty offices just boarded up. you're looking at some of it. copper thieves, failing retail. in fact, downtown st. louis, the biggest drop in foot traffic out of 66 cities measured over the past couple of years. congresswoman cori bush, this is her district. stuart: ah. and she's the lady who still insists on defunding the police. lauren: they've gutted the police force, they have high crime x this is what's happening. stuart: yeah. lauren: the price for the at&t

tower sold for $205 million back in 2006. a lot of money. its value has fall if, it sold two years ago, $4 million. stuart: 4 million. lauren: $205 million -- stuart: and that was 2 years ago. lauren: yes. isn't that unbelievable? if. stuart: it is. lauren, thank you very much, indeed. mortgage rates have hit tear highest levels since november. the average 30-year fixed rate loan is 7.29%. mitch roschelle, our real estate expert in residence. what do these rates do to an already struggling housing market, mitch? >> it couldn't be a worst time of year, stuart, for interest rates to go up because all of those people in this spring buying season now just got hit with the news flash yesterday that interest rates are not going down, they're more likely going up. so the timing is awful. and there is a little bit of supply on the market, so i really feel for those first-time buyers who are hitting the streets right now looking for homes. stuart: yeah. on that note, look look at this from the wall street journal,

i'm quoting, the hidden costs of homeownership are skyrocketing. the journalist talking about insurance rates, property taxes, maintenance costs. mitch, this is the side of inflation which we don't see, we don't talk about much. we concentrate on grocery store prices or the price of gas. but this is the inflation in the costs of owning a home. and to a lot of people, this is a very serious problem, right? if. >> yeah. some of those costs, stu, are picked up in shelter costs which is around 40% of the cpi like property taxes or common if charges -- condo charges if you're a condominium owner. but insurance is a whammy. i live in florida, as you know, and there are many people who can't even get renewed. insurance is a huge issue. property taxes are going up all over the place. so these are real costs. but the one thing to remember is those costs are also going up for landlords. so if you own apartments and you rent them out, you have the same issue with property taxes. you have the same issue with insurance. so what's happening? rents are going up as a well.

stuart: so the housing problem, both owning and renting a home, those problems are just getting worse as we speak. the costs of owning go up and because of the shortage of rental availability, rents are going up as well. this is not a good outlook at this particular time of year for the housing industry, is it? >> no. and i texted ari, your price, this morning and said we're in a price spiral, but we're spiraling up. because if you looked at the cpi number yesterday, our rents are up year-over-year over 5%. so this is not good. and i think if you're a parent of gen-z kids, get used to them living in your house for a while because the prospects of them moving out -- [laughter] look pretty grim. stuart: it's a grim prospect, i mean, for the future. you might think, well, maybe things will get with better in six months, but you really probably can't say that, can you? >> no. you know, it's interesting, i'm always asked when's a good time to buy a home, and i still fundamentally believe that prices are going to go up. so it's not an issue in terms of

losing value in the home, but what it will cost you to own the home with higher interest rate costs and higher, you know, costs to operate the home, that's something that people really need to take into account. stuart: i have to believe it's a negative for president biden's re-election. that's a political story, and we won't bother you with that, mitch roschelle. >> i agree we you, stu. i agree with you. [laughter] stuart: okay. come back soon, mitch. thank you, sir is. lauren, i want to know which cities have the boris inflation. lauren: number one didn't surprise me, honolulu, hawaii. they have the highest inflation. miami and fort laud arer kale coming -- laud orer dale coming in second place, that's florida. high prices in the doom loop that we just spoke about a that has gutted their police department, high crime? st. louis, missouri. dallas, texas, also having high inflation. these are mostly popular places to live based on low tax rates and good weather. 23 cities were rank rahed by wallet hub. -- ranked by wallet

hub. new york city, which i think of as incredible -- can incredibly expensive, number 18. feel like you can get a deal here? [laughter] stuart: i'm not -- lauren: how much was the tuna sandwich? lauren: $11 for a small tuna sandwich. you paid $10 for a slice of pizza a and a bottle of water. [laughter] lauren a lauren i wanted to return it. stuart: i just paid $7.99 for a loaf of white toasting bread -- they're a they're the brioche kind? if. stuart: no, it was ordinary white bread. coming up, the president refuses to address reality. it is politically damaging, he avoids it. maybe we should be happy that he can't address it was when he does, he's a national embarrassment. that's my take at the top of the 11:00 hour. walmart ramping up artificial intelligence and automation at their warehouses. but instead of walmart killing jobs, they're hiring. ashley webster has the inside look at the new bot withs with

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stuart: yeah, the rise of a.i., yes, indeed. walmart's ramping up artificial intelligence and automation with high-tech warehouses. ashley webster is live from walmart's central florida warehouse. all right, ashley, show us how walmart's using a.i.. ashley: yes. you know what, stu? it's absolutely fascinating. it's one thing to talk about it, but to see it in action is really quite something. this is an amr, an autonomous mobile robot. it's a fork if lift, okay, but it does everything. you're looking at the back end of a truck. it is bringing out the goods by itself thanks the artificial intelligence and programming. it's doing all the work. it will take the pallet and this will be put through the facility here and eventually shipped on to walmart's stores. this is a 1.6 million square feet facility, and walmart uses

it as a test of some of its technology and certainly art official intelligence. the packages are sorted by size, weight, even content. so that would make sure things like baby food would not be stored next to something like laundry detergent. so there's a safety aspect to this as well. but all of it is handled by machines. so you'd think -- uh-oh, what about the humans? they're going to lose their jobs, right? well, no. listen to this. >> we see the jobs becoming more high skilled, more productive, freeing a lot of their time so that they can do what they do best, serve our customers. and for our customers, it makes it even more seamless. ashley: well, here's -- consider this fact, stu. the robots can process and ship out 560,000 the cases per day. humans can get up to about 300,000. so the robots basically double

the work of the humans. but for the employees here, it means they don't have to do the really heavy lifting. and someone used the analogy that the employees have gone from player the coach. and in this case, the players will do anything that the coach tells them to do. it's really fascinating. kind of nerding out a little bit here, stu. i love it. if you ever get a chance -- of course, this is the kind of place that stuart varney would love. it saves money, it streamlines everything, and everything you order gets to you just a little bit faster. stuart: i think it's fascinating, ash. good stuff. ashley, we'll be back. check the markets, please. we've got the dow down 50 points, and we've got the nasdaq up 56. still ahead, brandon judd on biden considering an exdelaware order on the border -- executive order on the border. would that be a change of policy? retired colonel james carafano on warnings of an imminent missile strike on israel by iran. how should we respond?

trump says biden has totally lost control of inflation. buzz brian -- does brian brenberg think he ever had control? and bruce blakeman wants to deputize private citizens in the event of serious emergencies. what tube of energies -- emergencies are we talking about? is it a militia he's talking about? blakeman will be on the show, 10:00 hour is next. ♪ ♪ sun is shining and so are you ♪

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