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tv   Cavuto Coast to Coast  FOX Business  April 19, 2024 12:00pm-1:00pm EDT

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stuart: walking in the door, 7000200. the answer is -- 6120. texas has the largest number of community hospitals, 509 and that state, 10% of all community hospitals in the united states and now we know. 20 seconds to tap dance on this, suggestions? ashley: going to the beach this weekend. what are you doing? stuart: hanging around in new york. very disappointed in soccer. five seconds to coast to coast, 3, 2, one. united airlines is canceling
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its daily flight from newark to tel aviv through may 2nd about following that story, the market has a different reaction to what happened overnight with this clandestine attack on israel here but the knee-jerk reaction the markets have, the futures, 500 points after 4:00 a.m. :00 am. i was witnessing that as it happened. we have a very disjointed market response. kelly o'grady following that. >> reporter: all things considered we are in a better place than we would be 12 hours ago but it's not looking great. let's look at the major indices, the dow is the only one that is up one hundred 50 points, the s&p and the nasdaq in the red, tanked in the futures market, rising tensions in the release, we did care back on losses during trading
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but if you look at the whole week, wall street is limping to the finish line. the dow is down roughly half of 1%. the s&p is down 13points, the nasdaq has gotten hammered, down 758 points closing on 5%. with everything happening in the released, oil is a key focus. last night crude soared above $90 and pared back those gains, right around 87 right now. looking at the bond market, that's a roller coaster of late, soaring on a strange aversion to the traditionally safe asset but last night, what might be pursued as a flight to safety, the treasury was down
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overnight but it has been back as the day progressed about it is really volatile of late. you see that reflected in the vix, it popped above 20 for the first time since october is geological concerns spurred the market, parrying back these gains but looking at next week, big tech earnings, some big swings if those companies report well. neil: when the vic's is going crazy people say that's dangerous but others say it's a good counter, signatories are low and stable but it can be different to talk about things, i never know how it goes. thank you very much. chad chad pergram following the relevance where speaker johnson is getting a lot of support but not from republicans. talking about getting other things done.
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>> reporter: the house crossed a procedural hurdle on the foreign aid package, 16 to 94. an astonishing one hundred 79 democrats voted yes on the test vote compared to 151 republicans. debbie wasserman schultz was one. >> make sure the chaos caucus, the republican party can't stand in the way of vital ukraine, ukraine, israel, and taiwan military assistance. they allowed vladimir putin to advance. >> reporter: first time since 1964 the minority help to the majority to pass a rule. that takes off conservatives.
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>> the american people understand we won't when every fight they expect us to fight and that is something they are not seeing from this party or this leadership, speaker mike johnson. >> reporter: johnson is not worried about losing his job. he said let the chips fall where they may. johnson defense his move to help ukraine and israel. >> we were right. if republicans were in charge of the house, senate and white house, this is the best possible product we could get under the circumstances to take care of these obligations so i look forward to that tomorrow. >> reporter: marjorie taylor greene did not attempt to remove johnson from the speakership. green, thomas massey of kentucky and paul gotimes of wisconsin, the house debates the foreign aid package
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tomorrow. neil: what would it take for marjorie to the green or these others to pull the trigger, the next step? what do they have to do? >> she put out the resolution. all they do is make a determination as privileged, that triggers it. at that point how says to consider right away within two days and it doesn't have to be one of these supporters. mike johnson or someone else can put it out and say come at me. you can do that too. neil: if trivial pursuit put out a capital addition you would win that. >> it too bad. i was never good at it. i played with my mother-in-law couple months ago and did terrible. she was great on theater. neil: it happened in the municipal bond market. thank you for that. chad pergram following that. just a couple really.
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to look at getting rid of the speaker. the wisconsin congressman sits on the house transportation infrastructure committee, retired us navy seal. you don't mess with this fellow. good to have you and thank you for taking the time. >> i appreciate that. i am on two important and i would say nearly completely bipartisan things. neil: let me ask you, on this distraction, maybe just limited to a couple of your colleagues, for the speaker, they are losing patience with him. they might call a vote on getting him out of there, they don't like the way he has done these deals, aid packages, working with democrats, all of that, how do you feel about it? >> nobody, democrat,
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republican, independent say vacating mccarthy up speakership turned out better for the country. congress is supposed to be a deliberative body. we need to put this aside. speaker johnson cannot help govern with the sword of damocles hanging over his head. i talked to these guys and said stop blackmailing the majority of the majority. stop holding these things over the speaker's head and my head. stop voting against these rules. when you vote against a will i don't get a chance to vote for or against the bill which is disenfranchising 750,000 wisconsinites and the rest of the american public. i respect the chair, i respect matt gaetz consent and expect them to return that favor to me in wisconsin. neil: you don't think this will go far. all it takes is going the extra step to say i want to do this.
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neither are at that stage. you think they will be? >> i am not sure which member from the freedom caucus -- i don't know which one we are getting monday versus tuesday. i don't know how to negotiate with these folks because they change their position so often. what i have chosen to do is focusing very hard on these policies in detail and if they make sense for my constituents, the american people in the world at large in that order, i will vote for it and if not i won't. if folks around here knocked off this high school drama, realize that we are a deliberative body responsible for governing, if more people did that there will be opposite people. neil: once the seal always a
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seal. your reaction to what israel pulled off, and counterstrike on the part of the uranian's. and what do you think happens. >> when hamas attacked israel, israel is in the process. they did not attack iran even though iran is responsible for finding those folks. they directly attacked israel, plate the appropriate for israel to attack. what people should know is where those vessels went. in the nuclear facility, medium-range missiles and uav. on drones.
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that message hopefully has come delivered to the mullahs in iran, a missile landed down the block, but it could land directly on the factory. the battle damage assessment by the actual strike, i sure hope iran is not holding proxies back because the jewish people don't have the right to defend themselves but to live in peace. neil: a reminder to the irani and this, showing what it was capable of doing, to put them at bay. good seeing you. have a good weekend. stuart: the public ventures president and chief engineer, the bull's-eye american ingenuity fund. your sense what the congressman
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was hinting at, the irani and czar not to do anything. people would welcome the that. that. markets go up with that. >> it is posturing. you keep tit for tating, and we've both made our points. and what i find fascinating. and and dow futures down or hundred. or you'll, oil is down today. >> that was a knee-jerk reaction. brent is traded out of london.
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wti traded, that is what happens. the immediate knee-jerk reaction, the most severe. originally you saw the attacks on israel, on average a 70% pullback with the escalation of some outbreak and within 10 to 30 days the market recovered. lauren: 1 hamas working it out. having said that, don't know where we will end up, this is for the s&p, the sixth weekend in a row, the average is down 5%. these add up after a while. >> they do add up. when you see your portfolio -- it is a reasonable pullback. and 95% of stocks, are trading below the 20 day moving
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average. they have fallen to one that flows. that is when technical people, not a technician, a guy who reads what ceos have to say, technicians look at charts, that is oversold. i would agree. that's why we are starting to see buyers come in. nvidia trading at 8:fifteen. it was as high as 9:50 and it is trading 27 times earnings. full correction, deservedly so. nvidia was the poster child for the ai tech trend taking off last year. it's hard for those companies to have a wave of growth for the second or third. nvidia if you are in the market
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you have a position in nvidia but got to go, i look for more small mid-cap plays in the ai place, looking for companies that are levered to the same trend. neil: nasdaq takes the most fears with market rates backup with fed officials talking one end to the other end rate cuts delayed. market rates backing up, inflation is a concern and disproportionately tech stocks. >> tech stocks hit small companies. small-cap companies are less profitable and need access to capital and rates are higher, cost of capital is higher but the other thing, these younger companies don't have earnings in many cases so you have to discount those future earnings, willing to pay less today. they have new highs, nasdaq is
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50, the russell 2000. they have been lagging. i am shopping in the small-cap in particular the biotech space. you see a nice run up in small of the october lows and you see biotech, big pharma stepping back in and making a lot of acquisitions because they have a replace the pipelines, the innovation economy never stops, never sleeps. adam shares the ingenuity fund which people should check out but i am less concerned about this pullback. investors -- this is the first -- stuart: investors are getting skittish. this is the first $0.03-$0.05 pullback. in a normal year, have 5 to 7
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or 3% pullback, 5% pullbacks. neil: what do you tell investors about the constant fighting and his are going to be in attack today in the middle east or another development and they went to sleep at night they liked when they were making money and don't like it when they are not. >> you can never have too much risk in any one position. neil: stocks ride, not like a daily event. what do you tell them? >> time in the market, not timing the markets. if you are trying to time the market you got to sell the right moment and then three times, they get back out. it's hard to do. i would rather focus on finding high quality companies that are growing at might double or triple over the next four years. if you want to raise a little cash, nothing wrong with having
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10% or 12% cash, 51/4, fine. neil: sounds like people say i am on diet pills. vegetables. >> eat and enjoy it. neil: don't wander too far. i want to pick those fine brains which we've been so impressed with what is going on in the markets, all the craziness and knee-jerk responsibilities by these gentlemen, at 4:00 in the morning, we are well off of that, dow futures sliding 500 points and even after that watching this in real time, slicing that in hand, nothing like the game we've seen a few minutes ago. and showing you what's happening with the 10 year bond, that had been backing
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off, 4%, 4.61%, a real flight to quality that had the puppy down 4.35%. fast market conditions affecting oil and these guys were saying rocketing up briefly, 8290. there was a time we were jumping over 90, 86, 87. all of this, $82. ♪
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and we could all un-experience this whole session. okay, that's uncalled for. neil: day 4's where we are in this, the trump trial going on, all the juries selected. a lot of us look forward seeing if trump has anything to say. the gag order is bothering him but no change from prosecutors wanting to punish donald trump. eric shawn at the supreme court with more. >> is not acting gag. he was angry about that. he says everyone involved in this trial can say what they want. he is not allowed to say a people. not allowed to talk because the
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judge did slap the gag order on him after he repeatedly attacked witnesses, manhattan district attorney alvin bragg among others. from commenting on jurors, witnesses, staff, and their families, the former president demand the gag order be lifted because he wants to return fire. >> they've taken away my constitutional right to speak and that includes speaking to you. i have a lot to say to you and i'm not allowed to say it. >> reporter: christopher conroy wrote the decision to target individuals from this court's work protects deliberate flouting of the court's directives that were not sanctioned. by virtue of his post to truth social and on the official campaign website. at his former lawyer, michael cohen, branding michael a, quote, serial perjurer.
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co-conservator time in prison after pleading guilty to tax evasion and campaign contributions. and trump reimbursed him for paying off stormy daniels, trump denies all that. several prospect of jurors were dismissed, one of the jurors did help hillary clinton's presidential campaign get out the vote and another juror served a time in prison, woman who broke down in tears recounting that experience and she was dismissed. the defense attorneys were questioning the alternate juror prospects but so far trying to get 5, not one, has been chosen quite yet. we are coming up on the lunch break. it may be doubtful they can get them by later today into the weekend. neil: thank you. we have the north dakota
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governor or presidential candidate, close confidant working the phones on behalf of donald trump, good to have you back. the former president does raise a point. this time in court keeps about the campaign trail. you are trying to get the word out, do you think he's at a disadvantage? >> two out of three americans understand this is a sham trial, talking about jerry selection based on alvin bragg's comments when he was running as a politician, based on the judge's campaign contributions neither of those two could be seated on the jury because they would be disqualified because of their conflict. every american knows donald trump can't get a fair trial in new york. neil: president biden has gone to pennsylvania again and
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again, 20 trips over the past six weeks. having said that, he's narrowing those numbers, supposed to be centered in the next 5 or 6 weeks, hitting one battleground after another. how does the former president make up that ground? >> biden's game plan on the campaign is lawfair to keep donald trump trapped in court, there were examples, president biden walked into a gas station and no one notices. donald trump is making the best of a unfair situation. the biden administer should wants america talking about this trial because they don't want to talk about president biden's policies. if the trial wasn't going on we would be talking about what's
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going on between iran and israel, we are in a proxy war with iran. they launched an unprecedented number of missile attacks at israel and our own state department is trying to pressure them into a 2 state solution and, under attack on two fronts. at any other time america would be trying to figure out where we stopped being an ally to israel, president biden's weakness beginning with withdrawal from afghanistan, to pressure israel on behalf of the terrorists and hamas, america needs to see through that, no one is paying attention because what they 're doing with the lawfair. neil: you argued in defense of israel more than anything we heard from donald trump, i don't mean to diss merge him, but a lot of people are wondering are you unequivocally with israel or are you not.
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and and on the side. just as nato allies don't know, with ukraine or bad guys trying to take down ukraine. are you worried, he is sending a message, very different from the one you just saw. >> what i heard him say on the campaign trail is nobody is stronger for israel and donald trump and if the competition was between him and biden at no question in terms of who is standing with or supporting israel. look at how you support israel. neil: he told israel to wrap it up and israel is trying to wrap it up and it's proving a devil to get done so he is impatient with israel. >> donald trump was strong in supporting israel because he was strong in going after iran. when he was in office, he had
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iran on its knees financially. oil production is down and reserves were down, president biden comes in, $6 billion for 5 hostages, 10 billion in released assets, we will take oil sanctions off. iran's oil production is off. neil: they are good examples you raise. no reason we have her doubt that he's not 100% with israel? >> he understands israel's problem is the iran is the largest funder of terrorism and president biden has an obsession with supporting iran on every front. they make excuses, president biden says don't retaliate. what other ally would we say that to? what the obsession with iran? neil: good having you. on behalf of donald trump, a
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small pool of possible running mates, we will keep an eye on that and these markets holding their own. it has been all over the map. we keep a close eye on bitcoin and related investments. after this. ♪ ♪ amelia, weather. 70 degrees and sunny today. amelia, unlock the door. i'm afraid i can't do that, jen. why not? did you forget something? my protein shake. the future isn't scary, not investing in it is. you're so dramatic amelia. bye jen. 100 innovative companies, one etf. before investing, carefully read and consider fund investment objectives, risks, charges expenses and more prospectus at invesco.com.
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neil: look at oil right now. if you think we were flirting in and out of $90 a barrel, brent was racing overnight, look at this now, $83 and that is back to back weekends or days of attacks we see going on in the middle east following and uranian strike last weekend. look at that. here is the problem. that could be changed by policies when it comes to fossil fuels and oil especially if we start limiting areas we can look for production. edward lawrence following that from the white house. >> reporter: the interior department finalized a rule that set aside 13.3 million acres in the last, blocking any oil drilling get, the same land
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in alaska that congress opened up to search for natural resources, the biden administration ignoring that. president biden says as the climate crisis imperils communities across the country, more must be done. my administered and will continue to take ambitious action to meet the urgency of the climate crisis, protect american land and waters and fulfill our response ability to the next generation of americans. >> president biden: i see a future of a planet that saved the planet and this guy busted his neck doing it. the climate crisis in america, got to do something. >> reporter: the american petroleum institute told me after the biden administered increased fees by oil and gas leases, crushing american energy industry is not the answer. >> they started by cutting off the keystone pipeline and
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everything from this administration since then has been undercutting of american production at a time we need more american production because of geopolitical instability. what you are seeing is cutting back on production, federal lands in federal waters doing everything they can to do that. >> effective policies around the globe, the pressure on gas prices up $0.19 more than a month ago and one cent lower than a year ago. released tensions adding to pressures on oil. the direct attacks between israel and iran, doesn't seem likely there will be more direct attacks. they are hovering in the mid-$80 range. it would spike if the escalation. neil: another one in a
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particular trading range, pierce joins us now, the foundation and chairman. what do you make of how the rogue investment is handling itself in the middle of all this global craziness? >> i think it is weathering the storm rather well. i am here in dubai, the fire festival, despite that, crypto capital of the world is not tampered, hours away from what they call happening when the number of new bitcoin produced is cut in half combined with all the new innovation that has come to bitcoin making it competitive with the other innovation.
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bitcoin doing well considering the instability in the world. >> it is rocketing. and it is not happening now. >> i would say, it is happening every four years. and took bitcoin from 20 to 67. and to approach the actual event. and what we are hearing about, elana muscat's name coming up everywhere.
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and people talking about astrology and i guess that goes into conjunction with jupiter and tourists, as it happens since 1941 or something. neil: tomorrow, and it is 10 million, getting pounded, our markets overreacting after this. do you want to close out? should i? normally i'd hold. but... taking the gains is smart here, right? feel more confident with stock ratings from j.p. morgan analysts in the chase app. when you've got a decision to make... the answer is j.p. morgan wealth management. ♪operatic music♪
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neil: netflix came down with earnings after the bell. it looked like a boffo report, they were off to the races. what little did i know? it has been down, i thought more of a conservative outlook than i worry someone but my
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friend lou basenase, raised concerns of people paying attention to this, sort of the kickoff to the tech earnings everyone would be focused on. lou:the earnings about the guidance for the future, earnings are expected as a whole to increasing q 2 and q3, that underpins undermines the rally. neil: the nasdaq. lou:the overall market, tensions and the overall market, the highest margin and the biggest profit earners going into other areas of the market as well. neil: five or six weeks of this nasdaq slide. >> can't push stocks up every day.
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that is a growth guy i am playing for that, positioning for that but let me put a number on it. we've seen earnings growth over the past two quarters and this will make 1/3 consecutive quarter. estimates call for growth of 3% but the average beat in the preceding two quarters was 7%. 3% baked in gets you to 10% and that is achievable since it is in line with what we see, last quarter it was 8%, the quarter before it was 5% so 5, 8, 10, that is logical. that is an acceleration. we were certain recession was inevitable, it never happened. we seem to get caught up in the negativity. i don't know why that is. maybe we are suffering the
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ghost of covid. neil: when i started at fox, i was the youngest guy on the block. like yoda. i will say this. the consensus developing a little early for this, tech stocks are due for their correction, playing out in the nvidias that will extend to these other players. is that true? do we worry about that? >> everyone things like everyone is likely wrong. back to the recession, the op-ed for newsweek, no way there was going to be a recession, not a chance we would get many fed rate cuts or any, that's becoming consensus. neil: when everyone is on board with what you were saying that.
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>> the beauty of being a contrarian is you have to wait for the market to come to you and you move on and see where sentiment rests. is tech overdue for a massive correction. if you look at growth fundamentals. neil: the multiples look okay. >> what i mentioned earlier with nvidia specifically, the when everybody talks about, it is trading in the low 800s meaning it's 27 ae. you can buy nvidia at a 27 multiple. 27. assuming they make $30 this year. trading at a forward multiple of 27 and you have 97% earnings growth or the s&p with 21 multiple and 10% earnings
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growth. neil: you are bullish on technology? >> certainly bullish on nvidia and technology and the aggregate. computing power is a massive theme that has driven ai. >> if you look at the valuation everyone wants to say we are getting close to another bubble, but from 8200 talks, we are nowhere close to that. it can continue. thank you very much. the dow doing okay, up 175.
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tamra, izzy, and emma... no one puts more love into logistics than these three. you need them. they need a retirement plan. work with principal so we can help you with a plan that's right for your team. let our expertise round out yours. neil: what is it with these protests going on in manhattan, pro-palestine, pro-hamas.
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having said that. the democrat strategist and pollster and clinton advisor watches this nervously. israel is bad and all the other players are good. politically or not, that's not a good combination. doug:it is not a good combination for education or elite institutions or a political system. i go back to 1968 and remember when there were anti-vietnam protests the cost my part of the presidential election. this could cost joe biden. neil: he has been pinned into try to satisfy the arguments who argue he's being too tough on israel but i wonder how jewish voters in this country feel about that, they don't vote.
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>> it is a real issue. it's a 60-40 race of the jewish community, 60 for biden, 40 for trump. the whole effort the biden administration terrain is real in, hamas and gaza, has not gone down well with the jewish community. there is concern the hands of the israeli government are being tied by iran. we got through the retaliation okay but this is a volatile situation that will not end anytime soon. i'm worried that the situation could get a lot worse before it gets better. adam: it is a long way from
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1968 but it could get there. >> i worry greatly because the level of civil disobedience, i support people's right to peacefully protest, but to advocate for hate speech or the destruction of israel on college campuses, i think goes too far. i was gratified that after some equivocal statements two days ago by the columbia president, protesters who were clearly stepping over the line were arrested yesterday. neil: what you said is something that gets back to our humanity. democrats are gathering in chicago this year as well. let's go to jackie deangelis and "the big money show". jackie: i know you'r

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