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tv   Varney Company  FOX Business  May 17, 2024 10:00am-11:00am EDT

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stuart: our producers chose this song on the grounds all of us think this has been a very long week. it has dragged out. it seems like a very longer we can we are glad it is friday. 10:00 eastern. a mixed picture. the dow is 39922, fractional gain for the s&p, fractional for the nasdaq. the 10 year treasury at 4.40%, up slightly on the yield side. the price of oil close to $80 a barrel, 79-7. now this. friday, may 3rd, a truck rolled to the front gates of the marine corps base in virginia.
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the driver said he was making a delivery to the post office since he had no affiliation with the base, he was directed to a holding area. he didn't stop, he kept going and tried to get in. that would have been a serious security breach. the driver and passenger were jordanian nationals, both in the country illegally. now in custody. the acting director of the immigration service was asked if one of those was on a terror watch list, i can't confirm anything like that. you know why the question was asked. the one. 7 million known got aways came across the border on president biden's watch, how many terrorists. not implying guilt or innocence of two jordanians but with more in the middle east and islamic terrorists threatening attacks in america you can understand folks being alarmed by jordanians or any other foreign nationals trying to get into a marine corps base, why did it take two weeks for the story to
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get out? the last thing our open border president wants is a terrorist attack linked to immigrants. this kind of thing is a political nightmare for biden. the border is an open wound. blaming trump won't work, 5 months to the election, one terror incident linked to the open border and biden is toast. second hour of varney just getting started. ♪ stuart: tammy bruce on friday morning, this case raises the anxiety level all around. >> it' s a reminder. there have been attempts to not talk about things for a couple years, they were saying the southern border was closed, gas lighting the american people but like with inflation you might say it doesn't exist but our daily lives are affected by this kind of thing. just as an example, think of
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the southern border, the northern border, to customs and border protection reported for fiscal year 23, saw 189,000 northern border encounters, 73% increase of 22, and a 597% increase from 21. those are encounters. imagine who is not encountered. those are the issues. we think september 11th, how many people did it take, 19. americans are being kept in the dark by the authorities, by our own government, we know as a result from our daily lives that something is not right, things are happening, people making plans, living their lives based in a way of presuming things are fine but perhaps that's not correct. i will remind you september 11th happened with george bush, at the beginning of the term so it is one thing for them to try to stop
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anything happening this year, we have to look to next year with the result of all of this coming together. stuart: turn our attention to the trump trial, michael cohen's robert costello says cohen is on a revenge tour. watch this. >> one thing you are not reporting yet is b-sides making that statement, i don't have anything on donald trump, he also said more times than that answer, guys, i want you to understand, i will do whatever i have to do. i will never spend the day in jail and slammed his hand on the conference room table. what does that mean to you? this guy is saying i will lie, cheat, steal, do whatever i have to do, i am not going to jail. he did go to jail. who do you think he blames for that? stuart: dramatic and clean-cut stuff. it should be in the trial, shouldn't it?
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>> it depends whether you are the defense or the prosecution. the more is a said, the more themes can be opened up. already i think the defense feels they are in a pretty good position in this regard. you want to open the door for more conversation in this regard. with what we just discussed, cohen is a useful idiot. you've got this dynamic but keeping donald trump off of the campaign trail, an incredible distraction as so many elements of our country are beginning to fray, the situation with the jordanians, looks like that was a test of our system. news is coming, cohen and trump and that is what the democrats prefer, that kind of kabuki theater going on. clearly after a witness like cohen, you've got to have somebody on corroborates what the weird guy said and since they are not doing that, they
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understand the disaster and the defense, it's a matter of why i try to fix something if you wanted to be what it is. you don't want to touch it. stuart: see you soon. even msnbc doubts michael cohen's credibility in court. lauren: trump's attorney catching him in what looks like a lie. >> the punches are building cumulatively. tuesday there were bruises and today there is blood and the collective view is there are moments the jury will remember instilling or adding possible doubts about michael cohen's long-term credibility. all of that accrues whether jurors go back and say i doubt if he's telling the truth about an element of the crime. trump's committal intent in 16.
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they are landing belows. neil: we heard from others on the mainstream media, something for jordanians to consider. michael cohen is the prosecution's star witness and where is the crime? and you have a city where trump is hated, these jurors feel they are being played for fools as they sit in the courtroom. stuart: doesn't go down well in new york. back to the markets, 40 points higher, nothing for the s&p, nasdaq is down 13. ray wong joins me now and i want to talk artificial intelligence. if it is microsoft versus google, which one are you taking? >> tough choice, happy friday. this is the battle of the ages, microsoft versus google, both have been spending a lot of capital expenditures.
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google is spending less at the moment, monetizing more. they do a good job to the market. and stuart: what if these companies add to their bottom line, add to their profits from ai. >> you are seeing it in development crossing, at least one third. on the back end, that is for them. $30 per user per month. and they are starting to roll out any business applications. last week or this week, and
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into androids, into gemini and what gemini is doing is search results like advertising revenue. ai is playing a role. stuart: everything is going into ai. there's an enormous amount of money going in and expectations are very high. you think we might get a bust at some point? >> i don't think so. there's only a few players. microsoft and google, micr, microsoft has 14 billiont quarter, 12 billion last quarter. it is a scale game with a lot of competition at that level. stuart: thanks for joining us. see you later. lauren is looking at the movers. microsoft is moving down. lauren: a great story from the wall street journal. they plan to put the new call
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of duty a video game on their subscription service, used to be if you want it you buy it, that would be a huge shakeup of microsoft's strategy. now they own it, the deal has cleared. activision is the maker of call of duty, a huge franchise, lifetime revenue of $30 billion and you have to subscribe to get it. that's a game changer. stuart: stock is down. lauren: bank of america double upgraded, price target $24. retail engagement that peaked three years ago and declined and came back a little bit is all good for robin hood. very bullish on them. a double upgrade, robin hood stock is up 7%. stuart: cracker barrel is different. lauren: stock is down 15%. they cut the dividend or to their restaurant and brand overhaul. stuart: stock is down 14%, neil
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cavuto grilled of the white house on why biden keeps making false claims about inflation, got to watch this. neil: why does he keep saying that? >> he's making the point factors that caused inflation to climb to 9% were in place when he took office. neil: that is not what he said. stuart: it gets better. house ways and means chair jason smith responds to the 9% inflation later in the show. the world's number one golfer scotty scheffler was arrested before the pga championship. he just teed off. details on this developing story all through the show. we will be back.
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stuart: lawmakers from both sides are teaming up to throw out biden's ev tax credits. what problem do they have with of these ev tax credits? >> reporter: they think these tax credits will send taxpayer cash to chinese businesses so a bipartisan group in congress is trying to stop that. carol miller, jared golden joining senators joe mansion, deb fisher, sherrod brown and marco rubio joining forces introducing a resolution that would revoke biden's tax credit saying there is too much flex a believer automakers to use the credits to buy materials from china, ultimately enriching our
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adversaries, not american businesses. carol miller saying not only is this rulemaking clearly illegal but is also a betrayal of american manufacturers and producers. our adversaries should not have access to american tax credits plain and simple. senator sherrod brown adding he cannot allow american tax dollars to enrich chinese companies attempting to infiltrate the american auto supply-chain. we created this tax credit for american-made cars and it needs to stays that way. this resolution with strong backing of democrats in the senate has a chance of sailing through congress but president biden has to sign off on it and ultimately he could decide to veto it. stuart: time will tell. president biden says he will not reauthorize trump's tax cuts which are set to expire at the end of next year. congressman jason smith, republican from missouri, chair of the house ways and means committee, what happens if all the tax cuts expire?
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>> if the tax cuts expire which is what the desire is, president biden will see every american face a tax increase. $4 trillion worth of taxes will expire at the end of next year, that means every day average americans, for example, who receive the child tax credit, trump raised it to $2,000 a person, that will be cut in half to a thousand, standard deduction which was increased under the trump tax cuts which, 90% of americans use when they file their taxes will be cut in half meaning every individual will pay more in their taxes especially the lower and middle class. stuart: can you stop it? >> we will but the elections are going to matter. if donald trump is elected, maintain control of the house of representatives and republicans gain the senate we
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are going to pass a tax bill in the first quarter of next year to make sure we are protecting, preserving the trump tax cut in 2017, that they will not expire. stuart: if biden is reelected all bets are off, right? >> biden has tweeted in the last three weeks and made a public statement saying get if he is elected he will assure the trump tax cuts expire. stuart: neil cavuto fact checked white house economic advisor jared bernstein on biden's claim about inflation. this is must-see tv, roll tape please. >> it was never 9%, why does he keep saying that? >> let me point out in the very quote who played the president talked about how concerned he was for household struggling with prices he consistently -- adam: not what i asked you.
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why does he keep misrepresenting this? >> he is making the point that the factors that caused inflation to climb to 9% were in place when he took office. the annual growth and corrine inflation and the second quarter of 20 one was about 9% and his point about inflation is very much the case. julie: are almost as bad as he is. stuart: must-see tv. inflation is a top issue for voters, why do they keep repeating a false number? 9% inflation? >> it's hard to believe the president can continue to say such untruths and people don't challenge it. i appreciate mister cavuto for challenging, we know inflation is 1.4% the day president biden took the oath of office. we also know in the first
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couple months of his tenure when the democrats controlled the white house, the house, and the senate, they passed a $2 trillion american rescue plan that fueled the inflation the fire which led to a total of $10 trillion of spending spree that caused inflation that has risen 19.9%. the months before president biden took the oath of office when donald trump was in the white house inflation was less then 2%. it all increased under democrat policies of president biden, nancy pelosi and chuck schumer. stuart: glad you said it straight. thanks for joining us this morning, see you again soon. attorney general merrick garland suddenly explodes into chaos. what happened? lauren: this is epic. i will say it is embarrassing. it's a girl fight, it happened
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between marjorie taylor greene, jazmine crockett, and aoc. watch. >> i would like to know if any democrats on this committee are in touch with sean's daughter. >> do you know over here? >> you are messing up. >> order. >> absolutely unacceptable but how dare you. the appearance of another person. a baby girl. don't even play. >> baby girl? >> i don't have words for this. marjorie taylor greene was asked to destroyed her disparaging comments about someone else's personal appearance from the record and she agreed. she was talking about congresswoman crockett. instead of ending it, i had seen it, crockett said, quote, if someone on this committee then starts talking about somebody's bleach blonde bad built. body, that would not be
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engaging in personalities, correct? they didn't know when to stop. congressman comber had no idea what they were talking about, false eyelashes, what? stuart: leave me out. it was interesting. thank you. a jewish graduate student suing the university handling the anti-israel protests, harvard ignored anti-semitic incidents. that students will be on the show. 50 progressive staffers tested the house vote to override biden's arms embargo to israel, they hide their identity. one republican said the aids should be fired. chad pogrom -- chad pergram on that next.
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they see the stock going up $76, nice game for 55, they favor legacy airlines. stuart: videogamemaker. lauren: the newest grand theft auto game will not launch until fall of next year and they cut their outlook for the year. it is up 3%. the story broke early this morning. the world's number one golfer was arrested before the second round of the pga championship. lauren: he is back on the force and teed off moments ago. he is four underpar 411. these are the charges that
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caught us by assaulting police officer, criminal mischief. on the show, in the last hour. >> on the driveway to the golf course, the cops clearly had no idea who he was. i would think they would be more informed. there is a tragedy that happened, probably should not have been behind bars. lauren: this is his statement. i was proceeding as directed, it was a chaotic situation, that occurred earlier. there was a big misunderstanding of what i thought i was being asked to do, i never meant to disregard the instructions.
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obviously a long way to go. stuart: he's playing on the course. on the capitol steps, dozens of congressional staffers protested the funding of israel. chad pergram on capitol hill. will they face any consequences? >> reporter: that up to their bosses. there was no confrontation. organizers advise the aids remove their congressional id badges and to wear masks. >> today, we are gathered as congressional staff because too many bosses failed to act. >> reporter: a message for people to wear masks and take off your ids. and not to identify who the demonstrators were. >> and they were armed with two large american flags.
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>> they elected their representatives. they vote how they want. of staffers don't like that they should resign. >> the demonstration came after they forced the administration to lift the pause on sending additional arms to israel, 224 to 180, 16 democrats, some pro-israel democrats argue the bill was a gop stunt to divide the left. >> this resolution has poisoned bills including condemning biden by name and a clear effort to get as little democratic support as possible. >> it was democrats who highlighted their own fractals as left-wing aides protested the views. they could not demonstrate on the steps or block access.
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stuart: president biden gave the commencement speech on sunday. what is the plan if protesters show up? >> the president says if there any disruptions whatsoever during president biden's speech, to stop the ceremony. doesn't want to national media but will president biden stop that? stuart: somebody shouts rafah, how do you do that? >> it is a black college, many students don't like what's happening in holding president biden responsible for it. 38 faculty members voted against, and 12 abstained, 50 voted for it.
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president biden is expected to give the address. stuart: let's move on. a jewish graduate student assuming harvard university harvesting anti-israel mobs on campus. on what grounds are you suing? >> breach of contract, title vi of the civil rights act and it is not just me pointing out these problems. the house committee on education released damning report on how harvard ignored student complaint about anti-semitism, tried sweeping it under the rug. many anti-semitic incidents in what he punished, the president agreed to negotiate with them, packing up anti-semitic encampments. it's total chaos at harvard. stuart: what are you looking for?
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money or something else? >> we want to make sure all universities are institutions of learning and not institutions of bigotry and discrimination. want to make sure there's a federal monitor with obligations under the civil rights act and make sure anti-semitic professors and students are disciplined in the same way harvard disciplined them for other forms of hatred and bigotry. i don't want to pay a single dollar for an institution that stabbed jews in the back every single time. stuart: if it had been any other group, black folks, muslims, gay folks, trans, whatever, if they had been run out of town the people who ran them out of town would be in prison but because it is jews they are still there. >> it's not even speculation. go to the historical record. harvard routinely disciplines speech it find hurtful or derogatory to other minorities. last year when there was a homophobic incident they
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immediately expelled the student. when george lloyd was killed, within three days a statement said we commit ourselves to ridding our university of systematic racism and institutional -- white supremacy. the largest massacre of jews since the holocaust on what department said nothing. they have not condemned the groups that were cheering on october 7th. after russia invaded ukraine they flew a ukrainian flag. after october 7th we asked of line israeli flag, they said no. stuart: do you have any personal examples of anti-semitic incidents involving you to your face? >> of course. there was a staff member whose twitter account is called the 9/11 guy who challenged me to debating whether jews were involved in 9/11 and posted a video of him with a machete, harvard has not told me they acknowledge this happened, they've not told me what his appointment status is, that's just one example. this is just to me. there are dozens of jewish students who have had horrific incidents of anti-semitism, we brought it to the attention of them and they've done nothing. stuart: outrageous.
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thank you for joining us. come back soon. coming up, the maker of ozempic will study the drug's affect on alcohol consumption. does the weight loss drug curb your enthusiasm for drink? dangerous storm sweeping through louisiana after battering texas, houston has been shut down for the day. katie burn has the latest on the storm. she will join us after this. tamra, izzy, and emma... they respond to emails with phone calls... and they don't 'circle back',
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in chicago came from venezuelan migrants and the remaining 16% from peru to chile. are living in close quarters in a migrant shelter, 64 cases but measles was eradicated in 2,000 in the united states and we are dealing with it. how is this happening, what are past records of people coming over and there was one instance where there was a young baby had the first shot, not the second shot, this is how it is happening. for a disease we eradicated. stuart: not good. the maker of ozempic says it will study the drugs effects on alcohol consumption. we know medication like ozempic makes people want to eat less, does it make them want to drink less? >> we haven't had the formal studies but we are hearing lots
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of people have reported they don't have interest in cigarettes or alcohol. this is very unexpected. now we have a full study to evaluate its actual impact so we are going to get the answer. stuart: is there any possibility these drugs could help addiction? this is a magic thing get. >> out of left field, none of us thought it would be there, is there something we don't understand that we never understood addiction. we knew something was going on biophysical in the brain but now there may be an interaction with loss of interest that may go along with loss of appetite. stuart: do you lose interest in sexual activity? >> i've not heard that but maybe people will start to present that question. stuart: on this program how we spoke to the author a book
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called the magic pill about his experience with weight loss drugs. he thinks children should be able to take them. what do you say to that? >> the indication for these drugs should be when everything else fails and we forgotten that in society. the third of all children in america on these drugs if we don't start talking about school lunch programs and nutrition and exercise so going to it as the initial therapy is the error here and that's a dangerous path we could be going down. stuart: when you give it to them the kids don't want to eat it. the waste is astronomical. >> if you put an addictive sugary food in front of a kid and a healthy food, go with a highly addictive sugar or food, it is educating, giving them the right choices. stuart: last one for you. a nurse in chicago is free of
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covid related ptsd and depression and to get away from that she uses electrical brain tapping therapy. what is electrical brain tapping therapy? >> a new therapy where you put on a device that provides electromagnetic fields, not electric shock therapy used for depression and ptsd and the brain is an electromagnetic organ. maybe there's some interaction there, maybe it is placebo but there's a couple anecdotal experiences. stuart: you don't sound entirely convinced. >> i would like to see a good clinical trial for i recommend it. a big hairdryer. it may take a wild. a while. stuart: thanks for joining us. turning to a fox weather alert,
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44 dead after severe storms ripped through the houston area overnight. i believe the government of texas told houston residents stay home for the day. is that accurate? >> yes, definitely. you can see why when you look at the debris downtown. huge shards of glass, the rear windshield of a car but pieces of blinds that flew out of office buildings when windows were blown out from strong winds last night. we have crews picking get through broken windows trying to prepare for more rain on the way. a lot of these windows will be boarded up soon but not a lot of traffic out here with schools closed, people being urged to work from home, essential workers expected to head to their offices today because of how devastating this
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has been, they lost their lives last night, the storm came through, happened around dinnertime. two of those victims were killed by falling trees. we are working on what happened to the for the victim but crews are working to restore power to a million people with more rain headed towards us. they stayed in hotels, and they are feeling grateful for their lives. >> all of a sudden my alarm starts going off. all of a sudden everything turns dark. the wind started coming in and the rain. >> reporter: the national weather service has three crews on the ground across texas
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surveying the damage and figuring out what happened here. we will be back with you when we know the details. stuart: you are all right. two illegal migrants tried to breach a marine corps base in virginia. the white house has been pretty quiet on this. national security expert jamaal jaffer deals with it in our next our. actor john legussamoh says trump is pulling well with latino voters because they don't understand how good the economy actually is. ♪ ♪ daughter: hey, dad. dad: hey, sweetheart. daughter: what are you doing? dad: i'm gonna clean the fence. daughter: it's a lot of fence. dad: you wanna help me? dad: aim at the wall, but get closer. daughter: (gasps) what the?! daughter: alright. dad: side to side. when you work with someone who knows a lot and cares even more... you can do this.
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stuart: a new fox poll shows on immigration which is the most important issue to them voters trust trump more than biden. daniel garden joined me now. do hispanics see it that way? >> i started up here. let's make one thing clear, latinos and their fellow americans are not anti-immigrant, they are
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anti-chaos and anti-lawlessness and anti-incompetence and don't administration that undermines the legal system. hard to trust this administration to do proper vetting. 7 million have been allowed into the country under biden's watch. do you think this administration did their due diligence on each immigrant? i would argue it's impossible when you see the system has been overwhelmed but border patrol reported one. 6 million got aways from 2020 one-2023. more in two years of the entire previous decade, 1.4 million from 2010-2020. biden is busy suing states for trying to stop the chaos so in the actions of a safe, orderly flow of immigrants americans are looking for someone else. stuart: biden thought if you let lots of latinos in, that would be popular
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another one for you. latino community implies hispanics who vote for trump don't understand the economy. how about that one? >> an insult to begin with but democrats know that latinos are desperately needed reelection wins but the relationship between latinos and the democrat party has soured due to irreconcilable differences. biden's team, with millions in campaign funding. they don't get to monopolize the policy conversations in the latino community. we've been driving a campaign exposing failures of bidenomics in the latino community, high prices of everything. the economy is creating real
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pain and hardship for millions of working class, and paying off debt of college graduates, doctors, lawyers and engineers on the back of the working class, none of the democrats, making gains with latinos, not shared brown in ohio. stuart: i've never heard you so intent on the subject in the many times you've been on the show. thanks for joining us, see you later. we want to check of the markets. a look at big tech, where are we now. we had a mixed picture earlier. >> relatively flat today. stuart: all up slightly. the price of gold has gone up this morning. bitcoin around 65, 66,000.
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congressman bob good at trump's, trial yesterday. house trump holding -- steve hilton said there must be drug tests, and neil sean on how king charles is fiercely protecting kate middleton. the 11:00 hour is next. ♪ [city noise] investment opportunities are everywhere you turn.
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>> this is a noted perjure who acknowledged various other times in other courts where he perjured himself. that's not a great witness. >> getting into the overbought territory and a pullback wouldn't be unwelcomed. >> once again they're covering up for joe biden. they do not want the american people to actually hear this audio. >> terrorists are coming over our border illegally on the folks on the terrorist watch list by the dozens, and americans are dying. something has to change. >> i think they un

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