larry: i'll repeat two things tonight. save america, save its children. and happy birthday to my 97-year-old mother. happy birthday, rut hope i make 97. 97.dagen: good morning, i'm dan mcdowell, the in for maria bartiromo. it's wednesday, may 4th. your top stories, 6:00 a.m. eastern. all eyes on the federal reserve, investors bracing for jay powell's news conference this afternoon, expectations of a half a point rate hike and what does the federal reserve do with that $9 trillion balance sheet. this as the 10 year treasury yield dipped slightly after topping 3% for the first time

since 2018. inflation is a top concern for voters. a fox news poll shows that 87% are extremely worried about rising prices and the country's future, this as the supreme court confirms the authenticity of the leaked draft opinion showing the court is set to overturn roe v wade, calling it egregiously wrong from the start. democrats taking advantage for the leak, not to advocate for the high court's integrity but to fund raise for their campaigns. elon musk has more to say about the acquisition of twitter, telling potential investors he plans to take twitter back public a few years after buying it. on the jobs front, the april adp employment report out at 8:15 a.m. eastern time. this ahead of the big jobs report out on friday. we've got major earnings coming out today, cvs and moderna before the market opens, uber's

report coming in after the bell. take a look at markets in the futures trading, we have gains across the board, green for the dow, s&p and nasdaq 100 futures, this after all three major market gauges finished up yesterday, green across the board. the biggest winner, s&p 500 gaining half of 1%. oil, west texas interhe immediate and crude to the plus side, gaining about 3 and-a-half percent, this as the european union moves to ban imports of oil from russia. european markets to the downside, losses in england, france and germany. take a look at asia overnight, the shanghai and nikkei both closed but losses in hong kong and south korea. "mornings with maria" is live right now. ♪ people turn their heads each day so satisfied, i'm on my way.

♪ dagen: your morning mover this morning, lyft down in premarket trading despite beating first quarter revenue estimates. the ride sharing company reporting earnings per share in line with expectations but a net loss of 196.9 million after investing heavily in driver incentives that weighed heavily on financials, lyft reporting a 40% increase in drivers in the first quarter on a yearly basis but overall demand has yet to return to pre-pandemic levels. drivers also facing near record fuel prices. that stock down 26% so far this year. uber is also down on the news as we wait for that company's quarterly earnings, expected after the bell. but lyft losing more than one quarter of its value in premarch action. investors bracing for jay powell's news conference at 2:0s afternoon, the expectations are of a half point rate hike, also

what does the fed do with had that $9 trillion balance sheet. president biden is also set to speak on the economy, exactly the same time. why try to step on jay powell. he's your fed chief too. this as the 10 year treasury yield slips after hitting 3%, its highest since november of 2018. joining me now, independent advisor alliance chief investment officer, chris zakarelli. joining the conversation all morning long, the fitz-gerald group principal, keith fitzgerald an washington times opinion editor, fox news contributor, charlie herd. chris, you say the fed is so far behind the curve they'll have to raise interest rates 200 basis points or a full 2%, percentage points, by the end of the year. that's aggressive. >> absolutely. it is aggressive. we're in a situation where the economy is still producing at a

very high level but we saw negative gdp last quarter because inflation is running so high. they've got to he slow down inflation. they need to get ahead of the curve. they're pretty far behind the curve. you mentioned they're going to raise half a percent interest rates this afternoon. they're going to have to do that a couple more times, if not three or four more times. there will need be a lot of tightening they that needs to happen in a quick amount of time. normally they move a quarter point each meeting. they can no longer afford to do they that. they need to move more quickly, try to get inflation under control. that's dangerous to the economy and march a gets. they have no choice, they waited too look. that's what we mean by being behind the curve. they have to move in a more quick manner and will have to jam on the brakes as opposed to slowly applying the brakes. dagen: i've been saying invests have -- investors have never seen this movie before, with the balance sheet that the fed will try to aggressively reduce.

after the 2008 financial crisis it stayed steady for three years and now -- so you're going to have a half a percentage point rate hike today. that's the expectation. rates have not been raised by more than a quarter percentage point at any meeting since 2000. it's been 22 years since we've seen anything like this. >> well, it has, dagen. and this is the key point. the closest parallel in terms of pricing action will be the bond massacre can of 1994 which i traded on early in my career. rates had to go up. we had foreign conflict, we had pressing inflation, all kinds of shortages to deal with, et cetera. here's the thing. i think my colleague is being generous. the fed is not only behind the curve, i'm not sure had they know how to spell curve at this point. they have to move very aggressively. the big question i have is, is this a big fake by traders who are trying to get ahead of what they know powell's next move

will be or are they trying to step on the gas because they know somehow they're going to thread the needle. >> threading the needle difficult. we have to root for that, hoping the economy can he slow down in a way that's not damaging to markets but it's going to be very, very difficult. i completely agree, it's going to be a challenge and it's something that markets have already started to price in, without getting all doom and gloom, the market get is down 13%. that's not a great way to start the year. bond market, stock market down. investors are concerned. you have to go through these periods as the other speaker mentioned, back in 1994 we had something like this. clearly in the late '906s the market -- '90s, the market rose after that. we'll have to get through a tough period. 2022 will be a difficult year for the whole year, not just the beginning of the year. dagen: 1994, that's when i started my journalism career, writing about financial markets. and it was the thing about '94 is the interest rate increase by the fed in february that year

was a shock and a surprise. there were a number of hedge funds the that blew up, there was the derivatives backdrop, orange county, california went bankrupt. it was the surprise versus, again, people aren't surprise by what the fed's going to do. i argue they don't have any sense of what the actual bond and stock market and asset markets, what's going to happen to those prices. maria bartiromo moderated a panel yesterday at the milken institute global conference. barry sternlick weighed in on where he sees the market heading following the fed's rate hike. maria: is the market going to get worse than where it is now. >> yeah. maria: how much worse. >> it's going to get worse. the fed will raise rates. it will freak people out. people will continue to adjust. we favor europe over the u.s. because rates won't move as far as they will in the u.s. had they can't afford -- they were never growing that quickly either.

they can't afford to pay 3 or 4% on paper and obviously germans have moved 50 of bips from negative. that's like a hurricane, a catastrophe over there. dagen: chris, your reaction and where you see this market heading. >> i think i'm not as doom and gloom with what we heard right there. i don't know that it's a catastrophe. obviously, this has been a slow-moving train wreck so far p. i think there's opportunities to turn things around. with the midterms we have positive catalysts. i think there are a lot of positives in the economy. you made two great points in the program. one is that it's not a surprise they're raising interest rates. that is different. it's good that the market is prepared for it. a lot of interest rates are priced in. the fact that we've got a $9 trillion balance sheet, thats is unprecedented. if they let the balance sheet run off, $95 billion a month which is what they're expecting to do, that's a trillion dollars a year. that's a lot of money coming out of the economy, pretty quickly. and so that's the part that's

unprecedented. i think that's the part i worry about. we don't know what's going to happen because we've never seen it before. that's the part that would make me a little more cautious and make sure that with the diversified portfolio, trying to protect yourself against the unknowns, that's one with thing you can do you want to take a look at what you know will happen, interest rates are going higher, inflation will remain high for a period of time, those are things you can prepare for. the other part is unknown. i do have concerns. i'm not exactly doom and gloom. investors can be patient, ride through had this period and we'll get through the other side of it. dagen: what i've seep the federal reserve -- what i've seen the federal reserve do, make rich people richer, especially those with leveraged assets and drive up inflation to the point they screwed over working men and women in the country whose wages are falling. maybe they try to recognize at this he phi that. chris, thank you so much. good to see you. we're just getting started this morning. coming up, playing politics, president biden is slammed for his response to the

unprecedented supreme court leak. we talk about it next. plus, author and venture capitalist jd vance claims victory in ohio's republican primary race after a critical endorsement from president trump. what this could mean for the midterms. and the business of small business. how one company is reinvigorating maine's fly fishing heritage. you don't want to miss a moment of it. you're watching "mornings with maria" live on fox business. ♪ i want some more. ♪ what are you waiting for. ♪ say good-bye to my heart tonight. ♪ oh, oh, i want some more. ♪ oh, oh, what are you waiting -- that's a lot of cash back. are you gonna stop me? uh-oh... i'm almost there... too late! boom! earn big time with chase freedom unlimited with no annual fee. how do you cashback? chase. make more of what's yours. living with metastatic breast cancer means being relentless. because every day matters.

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my party. i do not vote for funding of abortion. dagen: how the times have changed. in 2006 senator joe biden backed an amendment to overturn roe versus wade. now instead of condemning the unprecedented supreme court leak, biden is trying to rally voters for pro choice candidates in the midterms. a new fox news poll shows that 54% of americans think abortion should be illegal and look how it's changed. legal, 44%, 54, illegal. this is the highest reading we've gotten since at least july of 2018. most voters support a ban after 15 weeks and roe v wade protests break out in cities across the nation. in downtown los angeles, one officer was injured when demonstrators started throwing rocks and bottles at police, a city-wide tactical alert was

temporarily issued. charlie, your reaction to this leak and the -- in a grotesque way the democrats salivating over thinking this is going to be a big coup for them in november. >> well, i got to say, just big picture here, this is a titanic development. assuming that the politico's reading of the vote that -- the informal vote that went on with alito to write this is development. this is a huge political development. i don't think the democrats are exactly reading this correctly. it's such an interesting clip, the one you played of joe biden. and just a few years ago while joe biden was out of step with democrats probably a little bit back then, all democrats believed that abortion was a

moral issue and to listen to joe biden talk about it today and talk about how he doesn't want to leave this issue up to the whim as he calls it of voters is a truly extraordinaire hely thing. i don't know that -- extraordinary thing. i don't know that we've ever seen a sitting president talk like that to voters where he says, look this is a complicated issue, you're not allowed to decide on it. i think going into an election, especially with the economic backdrop, i think this is a volatile situation and i think democrats are misreading it and i think it's going to -- i don't think it's going to play out the way they're predicting. dagen: they're going to ignore the financial suffering of hard working men and women across the country, because again, them ignoring it or trying to dismiss it and saying the multi trillion dollar spending package is going to reduce inflation and doesn't cost anything. so their reaction to it over of and over again to the inflation

-- people's wages are falling over the country. the adjusted household income is down $2,600 per household from a year ago and if you go back -- let's put up the full screen of what joe biden assumed we have video of it. we'll air it later in the show, about he referred to no one can make the judgment to choose to abort a child. okay. thank you for saying that. it's a child. >> yeah. yeah. no, it's incredible. and just as recently as 2016, even hillary clinton was -- her mantra, she wanted abortioo be safe, legal and rare, that rare part suggesting there's a moral issue here and the idea that that can't be decided by people is pretty extraordinary. dagen: i'll just add, charlie, we were talking about joe biden's history on the issue,

david harsoni, in 1982 joe biden proposed a constitutional amendment to overturn roe v wade and a allow states to choose their own policies, which in theory this supreme court decision if it comes out the way it appears would of do that, that's '82. in he '94, joe biden wrote a letter to a constituent bragging he voted against abortion funding on 50 separate occasions. biden voted nor the partial birth abortion act of 2003. so again, he's on the right side of this issue, literally and figuratively and now you -- go ahead. >> no, and then you have a guy like bernie sanders yesterday saying we need to go out and codify roe v wade. good luck with that. go out and do that. if the court strikes down roe v wade that's all this will do. it will give politicians an opportunity to codify roe v wade

if that's what they want to try to do. my suspicion is they won't get it done. dagen: charlie, thank you so much. we'll see you shortly. coming up, vladimir putin's new warning to european countries as the. u mulls a ban -- as the eu mulls a ban on russian oil. we're on it, next.

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dagen: the european union proposing its sixth sanctioning package against russia today including phasing in a total embargo of russian oil imports and delisting more russian banks from the swiss payment system. european commission's president saying, quote, putin must pay a price. a high price for his brutal aggression. joining me now, the heritage foundation senior fellow, former pentagon official and a navy veteran, brent sadler. brent, this is a move for europe, an important one, but can they do it? can they handle it economically? >> well, it's been very hard for the eu of to get to this point. i mean, once they cut themselves off totally from russian oil it will actually be the most significant sanction and probably the deciding factor for putin. at least in the realm of economic sanctions. but at the same time, this is playing also into china's hands who made no see considerate of

trying to create an alternative to a dollar based economy and so this will make russia even more he dependent on china in their actual talks going on in saudi arabia and moscow to exchange oil persons in the yawn as well. yuan. it looks like eu is on the brink of pulling it off and making deals to hungary can support the sanctions on russia. dagen: can the united states repair their relationship with saudi arabia. if europe is pushing for he revived iran nuclear deal, that doesn't encourage saudi arabia to help europe out if it will cut off russian oil. saudi arabia, the united arab emirates and kuwait have excess production capacity i think of 4 million barrels of oil a day which would help europe but why would saudi arabia step into the fray if the united states and

europe have turned our backs on that country. >> so a couple points on saudi arabia. so one, it's no see considerate that u.s., saudi relations are probably the lowest point they've been since the cold war ended in the early '90s if not even lower than during the cold war era at certain points but following the money, it looks like it's not in saudi arabia's interest to support the u.s. in this, certainly doesn't make sense diplomatically given the history with this administration, the biden n regime's antagonism with saudi arabia. they're trying to get a message that resonates with saudi arabia with the cia director. china is 10% imports, oil imports come from saudi arabia. they're looking at doing that business in yuan which is a big he deal. it doesn't make any economic sense, it doesn't make any

diplomatic sense, as long as the biden regime persists in pursuing a nuclear deal, to try to get iran, the resumption of the jcpoa agreement. dagen: russian president vladimir putin and french president emmanuel macron speaking in an a over two hour long phone call yesterday, the kremlin saying that putin warned macron that the west should stop arming ukraine. we should not do that. >> i would take that as an indication that arming ukraine is exactly what the west should continue to do. putin's under a lot of stress and pressure to try to bring this war to a close in favorable terms or at the very least to hit a pause where he actually holds favorable ground in the east in the done bass. it's interesting to watch -- dunbas. there may be one last military push in the south which we should watch carefully. there's pressure on him to try to get to an end in ukraine p

that's that's favorable and try to pressure nations from cutting off weapons supplies to ukraine is one way to get there dp you were talking about -- dagen: you were talking about china. beijing is looking at ways to he defend itself western sanctions. chinese officials held a meeting between the central bank, finance ministry, domestic banks and international lender in anticipation of sanctions, this comes as concerns of a chinese invasion of taiwan grow. what is beijing preparing for exactly? >> i think that's exactly it. in the eventuality comes about that china has to execute -- in their mind feels they have to execute a war of choice to settle their dispute with taiwan, they're going to face very harsh sanctions. this is a lesson they're learning by watching russia's experience in ukraine. they're continuing a decades long effort to sanction proof

their economy, this goes into things like the belt and road initiative, to diversify sourcing of critical resources to sustain a war time economy, something the united states needs to also take a close look and shoring up its own economy if this kind of situation comes to fruition but it's no secret, china's been doing this for well over a decade. looks like ukraine is accelerating that and they're moving towards what's been called the davidson window, making sure they're positioned by 2027 to execute all options to include a military one against taiwan. dagen: brent, good to see you this morning, always. brent sadler. coming up, supreme court chaos, our next guest says the unprecedented leak still sets democrats up for failure in the november midterms. and earnings season rolling on, we're standing by for cvs and moderna, earnings out this morning. all the numbers as soon as they break. ♪ you know that i could use somebody.

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dagen: cvs earnings out right now. cheryl casone has more. cheryl. cheryl: they're raising guidance, dagen. good morning to you. double beat for cvs, earnings per share coming in 222, the street was looking for 215. revenue a strong beat, 76.8 billion for revenue, the street was looking for 75.39 billion, that's an 11.2% jump year over year. a couple headlines, same store sales for the quarter, up 10.1%. also, they're giving us data as far as testing and vaccines, 6 million covid tests were administered during the quarter, 8 m million vaccines were administered during the quarter. the company also again raising the earnings per share guidance, that's a piece of why you're seeing the stock react why it is, raising guidance for the full year for an adjusted earnings per share basis.

strong numbers from cvs. we have other headlines we're watching. author and venture capitalist jd vance claiming victory in ohio's republican senate primary race. all 22 endorsed by the former president winning their primaries, that includes author of the best selling memoir hill billy eligy, jd vance. he. >> this campaign i really think was a referendum on what kind of a republican party we want and what kind of a country we want. do we want a republican party that stands for the donors who write checks to the club for growth or do we want a republican party for the people right here in ohio. ladies and gentlemen, we just answered the question. cheryl: vance seemingly benefiting from millions of dollars of ads funded by peter teal, the most of expensive in the nation so far, more than

$66 million spent by gop candidates and their supporters. comedian dave chapelle was attacked on stage last night during a show in los angeles. he was performing the netflix a joke tour. a man jumped on the stage in the middle of chapelle's routine, reportedly armed with a gun and a knife. security pulling the attacker off stage before he was carried away by ambulance, seemingly unphased, chapelle thanked security and continued his routine, joking the attacker was b a, quote, trans man. chris rock performed earlier. he came back on stage and his joke was, was that will smith? big night, the hollywood bowl. crazy night. dagen: that's what people, certainly comedians were worried about after will smith walked up on the stage and slapped chris rock across the face. nothing is off limits in comedy. you know what is? violence. cheryl, thank you so much.

cheryl: you bet. dagen: chief supreme court justice john roberts ordering a full investigation into the leaked draft opinion that signaled a possible end to roe v wade. the court confirming the draft is valid but said it does not reflect the final opinion of the court. meantime, democrats are already trying to fund raise off the leak as president biden says, quote, if the court does overturn roe it will fall on our nation's elected officials to protect a woman's right to choose. it will fall on voters to elect pro choice officials this november. joining me now is the hill editor in chief, bob cuesack. will this work for the democrats, bob b. >> i don't think this is going to change the game at all. i mean, i do think it helps democrats a little bit because they having to talk about. they really -- i was wonder --wondering what they were going to run on. they needed something to fire up

the left. i think this will fire up the left. but the right, dagen, they're getting fired up by this issue anyway. we're potentially headed for a recession, this does not change inflation. so overall, democrats are looking at a rough november. dagen: i'll point out that in the new fox news poll that a majority of americans, abortion should be -- 54% say illegal. 54%. when it's -- it was below 50% in polls in january of this year. september of last year, october of 2020, 2019 as well. so it what has -- it's changed. >> it's changed and the media narrative that this only fires up the left i think is wrong. it does fire up the left. but this is -- this issue is so polarizing of course, it divides this nation. most people -- abortion is going

to move up as an issue. before this leaked decision got out, it wasn't a top issue. so i still think people are going to be looking at the bread and butter. they're going to be looking at inflation, the economy, crime. those are going to be i think the top issues, ahead of abortion come the fall but abortion will move up, no doubt. dagen: and speaking of that, there's a new fox news poll that finds joe biden is under water on every issue but one, with more voters disapproving of his handling on everything but the coronavirus. 67%, more than two-thirds of voters disapprove on joe biden's handling of inflation. it's not just what happened. again, he owns this. he reappointed jay powell to run the federal reserve so try to blame jay powell, you're blaming yourself. and then also the messaging on this, president empathy turned into president apathy.

>> 33 house democrats are not seeking re-election and that's all you need to know, especially with the house being so narrowly divided. it's basically 50/50 in the house just like it is in the senate. you move a handful of seats and then kevin mccarthy is likely the speaker. and they're probably going to pick up more than a handful. so yeah, overall joe biden's numbers are not good. the electorate is in a sour mood and i don't see that changing any time soon. dagen: charlie hurt jump in here on -- not that you're sour, i apologize for that segue. it's not just the fact that they -- that democrats in power have had their hands all over these issues that hurt working americans, but it's also their messaging on it. >> yeah. no, without a doubt. if there is any silver lining to all of this, it is the democrats own every aspect of all of these

major issues that i think voters are going to vote on as bob points out but the other of point -- i agree with bob. obviously, abortion is going to sort of move up the scale a little bit and become more of an important issue but when you look back over the past 22, maybe more than 22 years, you look at how abortion is the most animating issue of the supreme court. but you look at how the supreme court plays in elections, you cannot find me a single democrat who has ever won an election on the supreme court. i can point to you dozens of republicans who have one elections based on going to voters and talking about the supreme court. the two biggest examples are george w. bush winning re-election in 2004 and donald trump winning in 2016. both of them won on the issue, talking about the supreme court and the importance of the supreme court, having integrity and making and curtailing their

reach, ending the judicial activism from the court. it works great for conservatives and for republicans. i don't think that this works for democrats. i've never seen this issue work in an election for democrats. dagen: bob? >> well, i mean, the democratic argument now and we heard it from president biden is elect more democrats so democrats have control of everything right now. the country is not in a good space. the economy has gotten worse. certainly there are some flashes here or there, labor market pretty good but overall most people think we're going in the wrong direction, basically two out of three americans and that is a disaster for democrats and for democrats to say okay, keep electing us and elect more of us, i think that's a hard argument in this environment. dagen: before we of move, say so long, bob, author and venture capitalist jd vance won the gop

nomination last night in a crowded ohio senate primary, endorsed by former president donald trump, vance now goes head to head with democrat tim ryan. this as a new fox new poll spells more bad news for democrats, 46% of voters prefer republicans for congress compared to only 39% preferring democrats. bob, how do you read jd vance's win? >> it's a big win for the former president. trump endorsed him. there's was hand wringing in the republican party over the endorsement. vance is the clear favorite over tim ryan. tim ryan is not a bad candidate but this is the environment right now and you look at the state, that state is not purple anymore. that state has been trending red and that's a good news -- that's good news nor vance and republicans, especially with biden under water and it's hard to see how biden gets back over 50%. remember, this abortion thing

also, it sidelined any i think hopes of bringing back build back better. now they've got to he focus on abortion and have votes on abortion and that just spends time. they're not going to have the votes to change abortion policy and they're wasting time and as we get closer to the election this dream which has been fleeting of doing some small version of build back better, that doesn't look so good right now. dagen: watch him forgive student debt. regardless of the income level. he's going to forgive some student debt and it's going to blow up in their face because more than half of the people in this country do not have a college degree. and you're basically saying to those people who don't have student debt, who don't have college degrees, screw you. bob. >> yeah. and you're going to lose some votes there, especially the white house is looking at some income limits. they haven't decided yet. i think it would be wise if they did have income limits here.

this could affect inflation, not in a good way. this is another trouble spot for democrats. they want to give something to the left because they haven't given anything on student loans but this could be a problem for as you say people who do not have a college degree. dagen: the arrogant left is who gets a break on this, people who didn't work in a trade, they don't get bupkus from this administration. we'll be right back. rn to care. she always had your back... like the time she spotted the neighbor kid, an approaching car, a puddle, and knew there was going to be a situation. ♪ ♪ ms. hogan's class? yeah, it's atlantis. nice. i don't think they had camels in atlantis. really? today she's a teammate at truist, the bank that starts with care when you start with care, you get a different kind of bank. better hearing leads to a better life. when you start with care,

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dagen: four years ago jeff davis left corporate american to follow his passion, fly fishing, the maine fly company founder now has his own business, making deep fly fishing rods, using locally sourced materials and hand crafting the rods themselves. joining us, jeffdavis. you say your late father inspired the business. tell us about it. >> it was around 2016, my father had passed and sort of part of that process was taking possession and finding his old fly rods, everything from bamboo and some of the newer materials now. it was something in his past that made this a passion for me,

an undying passion for me, the craft of the rod smith and the love and passion for salmon and fly fishing in maine was very evident to me so i decided to pursue that. dagen: jeff, i am a terrible fly fisherman. so i will defer to -- i lived in colorado for a couple of years. i will defer to keith fitzgerald who is on the panel who i hope is a better fisherman than i am. >> well, i can't vouch for being a great fisherman but i can vouch for the tradition and the integrity. my favorite rod belonged to my great grandfather. there's nothing i like better than getting on the river and going after that a steelhead because it is something that you live with and for and the passion and good on you for doing this. are there certain things that just stand out? are there materials that you're really excited about? where do you take this industry from here? >> you know, we found a really big void in the industry, it was

either mass production or individual custom rods that were $1,000 price point or greater per rod. we wanted to create a hybrid model of the twond a i think that's really -- two and i think that's really what we've done and making rods with intention, with precision, and with a story. and they're all very unique. they're small batch. some quantities are 50 to 100, some greater, some smaller. what we're really trying to do is restore some of these lost arts that were in these classic fly rods at a reasonable price point that people can afford and bringing back everything from wood handles to how we wrap and the thread and hand making seats and making seats and spacers for our customers that may have an old cherry tree that fell down in the old yard that was their grandfather's that they planted, they'll send us a piece of wood and we'll incorporate it into something special for them. we're excited we're able to do this.

we've gotten great feedback. what started as a passion project, we just all fell in love with. dagen: before we go, where can we find the rods? where do you sell them? >> so maineflyco.com is our website. we were primarily web based the first few years. maineflyco.com. we've been fortunate to move into a flagship location, on the royal river. you can come in, try a rod, take it down the river. it's a pretty special experience, both online and in the store. dagen: and jeff, it's a reason to visit the beautiful state of maine. i always tell people, don't go overseas. like if you haven't seen the united states, you need to get in your car, even though gas is high, get in your car and drive and you will find that the people of this country are really the best there is around the world. jeff, thank you for being here. jeff davis. we'll check out your fly rods if i can just get in the water

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dagen: charlie hurt, i'm sorry i didn't get you in that fly fishing segment. knowing where you grew up, i don't think you know how to fly fish. >> i figured you just thought since i grew up fishing with dynamite, i didn't know anything about fly fishing. dagen: which you don't. dead fish in the water. >> i'm agnostic. i don't care, any kind of fishing is good with me, except dynamite. i'm actually off of dynamite. dagen: i grew up fishing with the little red and white bobber, the little red and white floater in the pond behind our house and worms. >> can do it all day long. dagen: yes, all day. moderna earnings are hitting the tape. cheryl has the numbers. cheryl: yeah maria -- dagen, excuse me. good morning again. take a look at the stock right now, it's up 5%. here's why. a big beat on earnings per share, 858, that's a very strong number. the estimate was for 521.

and i was looking for an adjusted number, i can't find one. revenue also big beat on revenue, 6.07 billion on revenue. street was looking for 4.62 billion. of course, this is a covid vaccine and a covid booter story. they're waiting on more information on -- they're doing more studies on the booster. the company talking about the sales forecast, vaccine sales for the full year, they're keeping their vaccine sales forecast for covid unchanged right now. that's according to them. also, they're looking at a boot evidence, an only chron -- booster, an omicron specific booster candidate, that's in trial for safety. that would be a single dose, booster dose for 18 years and older. they're working on specific omicron boosters. the stock even jumping more, 6% right now. also talking about the fact that as far as sales go, they look to

be in the low to mid-20 percentage rate. they believe that in the second half of 2022, sales are actually going to be on the larger side because of covid vaccines and boosters. but again, a strong quarter, dagen. i'll send it back to you, strong quarter for moderna and again they're working on all a these different trials, the big conversation around the vaccine as you know is children. dagen: time for the word on wall street, top investors watching your money this morning. joining me now, the fitz-gerald group principal, keith fitzgerald, head of u.s. rates, greg farinelo and wealth management president, rebecca walther. investors are bracing for jay powell's news conference at 2:0h expectations of a half a point rate hike. and the conference will also happen at exactly the same time that president biden is set to speak on the economy.

go figure that. the 10 year treasury yield slipping after hitting 3%, highest since november of 2018. what are your expectations for today, greg? half of a percentage point hike probably baked in but that $9 trillion balance sheet, what do you expect on that from the fed? >> sure, good morning, dagen and happy fed day. thank you for having me today. i appreciate it. look, i mean, we expect 50 basis points out of the fed. it will be the first 50 basis point increase since 2000, so 22 years. i'll throw my hand up. i was trading if the markets back then. and then probably most important too with had that, we do expect the fed to announce balance sheet runoff. keep in mind, a lot of this has already been anticipated. so chair powell pointed to the fed minutes recently within the minutes that we got from the fed, certainly they laid out what they see as a short-term plan which will be phasing out

and running off the balance sheet over time. they'll have caps in place. those caps will probably kick in over the next three months and then the fed will begin to run off the balance sheet in conjunction with these rate increases. the other thing i would say, though too, i think today probably the most important dynamic will be powell's press conference. we have a lot of rate increases baked in for the rest of 2022. we get to 3% by the end of 2022. the market's now expecting 75 basis points in june. so i think that's going to be a point of questioning as we head into the press conference today. dagen: before we move on, greg, i want to ask you, how are -- so bonds have sold off along with stocks so far this year. but in terms of the yield spread on, say, corporate and junk, so bonds are down but has the spread -- is it indicating people are worried about he

default risk. i was looking at it yesterday because i'm a nerd and a loser but it doesn't seem to be historically wide when you look at, say, junk. >> look, i think that's a great point. we've written to clients about this. look, all-in rates have moved significantly higher here and the context of where we were last year and in 2020. on the primary side markets are open. issuers are coming to the marketplace. the issuance has sloasmed it's still very -- slowed. it's still very strong. rates look more attractive. locally, yes, we repriced here. the question is, are we in for a bigger move perhaps than we saw back in 2016 and i don't think we know the answer to that right now. but i think a lot of the move that you've seen in credit is really around volatility and it's really around -- it's around the fed and less so around credit default. dagen: thank you so much, greg. uber earnings hitting the tape. cheryl has the numbers. cheryl: it's funny, i'm

watching uber and lyft sync in tandem. earnings per share was a loss of 304 for earnings, dagen and even though bookings grew by 35%, that's what they're talking about right now, still the company as you can see the stock is falling right now. as far as the revenue, revenue rose 136% to $6.9 billion. but then you have to factor in the loss on -- like it's basically like it's tit-for-tat as i go through the numbers. revenue of -- mobility revenue, i'm sorry was 2.5 billion. that's pretty strong. bookings in april were strong versus 2019, they're talking about that, all cases, all regions. they're saying that at this point they have enough driver as best they did post-pandemic and that they're seeing a trend that

basically that that the drivers have come of back and that -- this is a labor shortage story really quick but again, a big loss for uber on the earnings per share and the numbers are still coming in but they're saying revenue more than doubled as people were riding more and obviously that's because of people still kind of using uber and staying inside. so anyway, wanted to bring those numbers to you but it is a loss on earnings per share basis. lyft is down as well, dagen. dagen: lyft loss a quarter of its value in premarket, uber to the downside only off about 1 and-a-half percent at the moment. keith, your reaction to these numbers, these earnings? and anything that you're watching today. >> well with, i've got to tell you, uber and lyft for example, neither of these companies make sense to he me anyway because you're talking about higher labor costs, higher fuel costs, higher cost of vehicles, higher cost of borrowing so it's logical to me that these companies are going to make less money. any 12-year-old with a bicycle can potentially compete. this isn't the breakthrough that i think it is.

but on the earnings side, a key take-away, we're 80% of the way through in terms of reporting. we're seeing yet again good guidance out of he key areas of the economy so to me the underlying narrative is there's a lot of strength there in what investors have to do, resist the temptation to absolutely throw caution to the win if chairman powell starts speaking at 2:00 and says something that makes sense. they have to keep it on the fairway right now. it's not the time to hit for the hole. keep it on the fairway, keep it simple, protect your money. stick with the best, not the rest. dagen: elon musk was tweeting about investment add a vice. he was -- add a vice. advice. but in a positive way. he was tweeting the old leggs pantyhose advice from peter lynch, investing in companies you love and know. >> that is very real. people are changing the way they buy food, changing the way they

buy medicine, belly aching about inflation and everything else. how many people are giving up a cell phone. i haven't heard one. lots of technology out there, lots of products out there. we'll use these things for the next 10 years. must have versus nice to have, that's the key. musk and i line up. i would love to talk to him about it. dagen: me too. i called him a jerk because he walked off an interview years ago. he took his mic off and dropped it. futures are inching higher as investors wait for the federal reserve's expected interest rate increase, half of 1%, 50 basis points. you say the federal reserve raising rates you expect the market will come down further. tell me more about that. >> dagen, as everyone knows, once we get 50 basis points hike we're still going to be at 75 to 1% federal funds rate and we know we want to end the year at 3. so this market has probably priced in this today. i expect the market is not going

to react negatively unless powell says something that is shocking. we are looking for aggressive action to get us to 3% and that is not going to be liked by the market. i agree with keith. 70% of our companies are beating, shows we have strong fundamentals. however, i think that what 2022, macroeconomics, it's all about the global geopolitical and the central banking system and what are they doing globally to deal with $30 trillion of currency that they've printed to keep us away from a he depression really from corona. now we're dealing with the impact. 2022 is all about the macro pricing, not the my he crow for me -- micro for me. dagen: before we go, you get 3% yield on the 10 year. is that a good buying opportunity? >> well, you know, dagen, i think it depends on the investor's timeframe. you have to hold it for 10 years. as rates go up that yield will

be depressed. i would maybe caution to wait a little longer. if we have a 75 basis point raise next month you get a higher return. why would you buy in may what you can defer to june. i think that's what people have to look at. people that buy in may won't be happy if they could buy at the end of the year and get a better yield and it was a short delay. we have to understand where the fed is going to go. are they going to stick to dealing with inflation or are they going to kowtow and try to go for a soft landing which really hasn't worked and it means we're going to go this back and forth, like the march market's doing good, now the market comes back down. they have to make a decision. which way will they go. the market won't like going to 3% and we all a know that. dagen: thank you so much, rebecca. gregory, both of you, thank you so much for being here. coat, you sit right there. -- keith, you sit right there. you're with us all morning long. much more ahead. coming up, another bad batch of polls for joe biden. wait until you see the

overwhelming number of voters concerned about inflation and who think he's doing a garbage job of it. former house speaker newt gingrich is here the to break down the latest on the supreme court leak. we'll also be talking with former kansas city fed president, thomas hoenig ahead of today's highly anticipated fed meeting. joining the conversation all mornings long, celt fitzgerald and -- keith fitzgerald and charlie hurt. you're watching "mornings with maria" live on fox business. ♪ oh, it's gonn a a be a good life, good life. alexa, ask buick to start my enclave. starting your buick enclave. i just love our new alexa. dad, it's a buick. i love that new alexa smell. it's a buick. we need snacks for the team. alexa, take us to the nearest grocery store. getting directions. alexa will get us there in no time. it's a buick. let's be real. don't make me turn this alexa around. oh my. it's painful.

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dagen: out of control inflation and the future of this nation, keeping americans up and night. a new fox news poll shows 87% of voters say they're extremely or very concerned about the future of the u.s. and inflation and higher prices. 67% disapprove of president biden's job performance on

inflation. only 28% think he's doing a good job on that front. charlie, your reaction? >> yeah, this is -- these numbers are pretty devastating. the idea that republicans are holding a double digit advantage over democrats on inflation generically and if you read down in this poll, it suggests that republicans could see an 11 seat swing in the senate. i think that's a little bit aggressive. but if it's anything close to that, it is a massive, massive historic blow-out given the fact that the senate math had looks bad for republicans this year. it's a tough map. if they make huge gains and get into that kind of territory in the senate, in two years and four years, the maps look very good for republicans and i think we'll be looking at only further gains for them in future elections. dagen: charlie, on top of that,

for weeks if not months last fall they were talking about build back better, three and-a-half trillion dollars spending package that wasn't going to cost anything and was going to lower inflation. and from biden to jen psaki, over and over again, we heard that. so it's not just inflation. it's the fact that they're, again, spitting in our faces and telling us it's raining. >> yeah. and completely lying at every step of the way and i think one of the sort of untold stories that's going on right now is the degree to which -- you and a i spent so much time fussing over the media. we know how discredited the media is. for people who have real jobs and do real things, they don't spend all their time talking about this. but that is starting to wear through. and i think that the credibility of the media and the ability for democrats to sit here and tell lies and lies and lies, talking

about spending all a of this money, printing all of this money and then claiming that that has nothing to do with inflation, those lies are wearing thin and i think people are starting to see it and that's one of the things you see reflected in the latest fox poll where you see by double digit margins voters, even self-described liberals are cash ' -- joe biden's even under water by double digits, 11 points among self-described liberals on the economy. dagen: the media clatter bags, they don't care about the american people. today, they're completely disconnected from the day-to-day life of the vast majority of people. they care about who is going to talk to them at some book party here in manhattan. like are they going to -- you know, is the author going to talk to me because i might be embarrassed. that's really -- again, there's zero lack of self-awareness.

and they're trapped in this like titanium bubble of ego mania. >> charlie hit is as far as i'm concerned. dagen: go ahead, charlie, real quick. >> the conversation is coming to the forefront because americans are having to feel it in their wallet. the political group is disconnected. charlie is spot on. you guys are talking right to the people and that's what politicians can't do, he distract and deflect is not a strategy contrary to what the biden administration thinks. dagen: he diesel prices today at a new all-time high. that's the fuel that moves the economy. they're at 5, 42, now all-time high today. regular unlead is at $4.22, it's moving back up. a week ago it was at 413. what refiners are doing, they have to switch to diesel to refine diesel heading into the summer driving season so you

could see a new record high on regular gas prices in a matter of weeks. charlie, you were trying to get in here before we go. >> no, no, but you look at a spectacle like we saw this weekend with the white house correspondents dinner which goes on every year, how many people in the audience, congratulating one another, has ever bought a gallon of diesel fuel. how many know what diesel smells like. i guarantee none of them do. the american people see that and they don't -- they see what's going on. dagen: i looked at the front page or the top of the new york times website today. i couldn't even count the number of stories about scotus, about roe v wade. that's a not the only thing on the minds of americans, clearly not. because anybody who drives a truck for a living or works on a farm, they're worried about diesel prices. coming up, everybody, speaking

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dagen: supreme court chief justice john roberts ordering a

full investigation into the leaked draft opinion that signaled a possible of end to roe v wade. the court confirming the draft is valid but said it does not reflect the final opinion of the court. meantime, democrats are already fund raising off the leak at as president biden says, quote, if the court does overturn roe it will fall on our nation's elected officials to protect a woman's right to choose, it will fall on voters elect pro choice officials this november. joining us now a member of the house armed services committee and air force veteran, congressman fallon great to see you. it seems the democrats are happy to have an issue they think gives them a lift when they're nailing on virtual -- failing on virtually every other. >> thanks for having me on. it's a dodge and it's diversion and that's the only thing. i would agree with chief justice roberts. it's an egregious breach of

trust and this is something we shouldn't be hear aing about for two months. and again, it's not the final opinion but we're not talking about the border right now, we're not talking about inflation, we're not taughting about projecting weakness or wokeness abroad. it's a bit of a gift to the democrats but only in the very short term. dagen: speaking of those issues, the border, inflation, the economy, a new fox news poll finds that joe biden is under water on nearly all the top issues with more of voters disapproving of his handling on everything but coronavirus. if you go down the list, it's -- the worst is inflation. 67% disapprove on inflation but immigration, 61% disapprove. crime, 59%. economy, 61%. what say you, congressman? >> well, we haven't seen inflation like this, dagen,

since 1981. over 40 years. and we're about to hit unfortunately the bad old days of double digit jimmy carter inflation. you mentioned earlier, your earlier segment about diesel fuel, over $5.80 a gallon. diesel affects nearly everything we buy in our economy and if that continues to rise, i don't see how that isn't going to be passed along to the consumer at the retail checkout counter. so i think it's going to get a lot worse. i don't think at this point in time, as joe biden is looking not at a red wave in november but a red tsunami. dagen: diesel is the fuel that moves the economy and so that -- those prices will feed into almost everything else that people are already paying four decade high prices for. but the white house, they're trying. they're struggling politically. and they're doing things that are making these problems worse. the white house now says joe

biden is considering canceling some student debt for borrowers earning less than $125,000 a year. i think the median household income is $80,000 a year in this country. but already congressman, the moratorium -- the extended moratorium on student loan payments that aplied to everybody -- apply to everybody, that's actually causing inflation. >> uh huh. well, dagen, if joe biden forgives student debt, that's like print pinrig p1.7 $illiond ust ywhowhr tllionsllllt' aboutrn n outabtverytdydyhatdydy ors yingpayi syideyi l l edprort y f pe.eoiee gree teeoee l l ir theitiondndnd thendnd cmien aenndhem

come c let the dococ pa hionlionli mhaigtht mig and they' t ting tre to vote in november. this is disgusting and it's bad policy and i think it's bad politics. dagen: they're trying to narrow who would have part of their loans forgiven. the total amount of student loan debt is about 1.6 trillion. so it wouldn't be that amount of money. but it -- to your point, it's not just a screw you to people who paid for their college or are paying on their debt but more than half of americans do not have a college degree. it is -- they are turning their backs on voters by doing this. >> you no, dagen, these folks that went to four year colleges or got their master's degree or got -- went to law school or medical school, they could have gone to night school. they could have gone to a junior college. they could have gone to trade school. where they credit hours are much

less per hour. but they chose not to. and even if they -- joe biden is talking about forgiving $10,000 or so. that's almost about $800 billion when you add it all up. dagen: right. they don't -- they just don't care. this is -- they want to -- 40% of the student loan debt is held by people with those very advanced degrees so doctors and lawyers. any way you cut it, it's a bailout for rich liberals. congressman, thank you so much. good to see you. >> thanks, dagen. god bless. dagen: god bless. coming up, a texas judge pleading with president biden to visit the southern border before lifting title 42 as a new fox news poll shows how voters feel about the crisis at the border, former acting dhs secretary chad wolf is here to weigh in, next. ♪ you got to be bad, you got to be bold, you got to be wiser. ♪ you got to be hard, you got to

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cheryl: welcome back. i'm cheryl casone with some of the other headlines we're following for you this morning. north korea launching another ballistic missile according to officials from japan and south korea, it was fired into the sea of japan. the test coming days after a north korean leader kim jong un vowed to strengthen is nuclear arsenal, quote, at the fastest possible pace and threatened to use them against rival, this is the 14th round of weapons firing this year alone. amazon is closing six whole foods locations in the united states. the impacted stores are located in alabama, california, illinois, massachusetts. five are slated to close by friday. a store in chicago is expected to close in the coming months. whole foods didn't specify why they're closing stores but said in a statement they regularly review growth potential of each

store. china reportedly banning spider-man no way home after sony pictures rejected a request to delete scenes that included the statue of liberty. the american landmark is prominently featured in the final scene. hope that doesn't spoil it for anybody. the chinese government refused to allow the release unless it was digitally removed. spider-man isn't the only marvel superhero the chinese government is taking aim at. they banned the dr. strange movie from being released in china, dagen. big financial hit for studios to not be in china but come on, i mean, that's just -- that's wild to me. dagen: good for them for standing up for, well, liberty. literally. and china, your loss. thank you, cheryl. cheryl: you bet. dagen: a judge in texas inviting president biden to tour the chaos at the southern border weeks before his administration lifts the title 42 restriction, the covid era restriction.

but that decision is facing a new battle, a new fox news poll shows more than 60% of americans say they do not want the policy lifted which expels illegal migrants over of public health conditions. joining me now, former acting dhs secretary and senator for homeland security and immigration chair at america first policy institute, chad wolf. chad, what do you -- your reaction to that judge's invitation to joe biden. >> well, i think it's certainly something that the president should take him up on. look, the president hasn't been to that a border in years, frankly. vice president only went to el paso, really didn't see the ground zero for that border which is south texas and i think what the men and women of the border patrol, those agents out there, they want to see some leadership. the secretary has only been there eight times, the secretary of dhs eight times in 15 months so they want to see leadership

there. i suspect the president's not going because he doesn't have good flus for those agents. he's not delivering on any policies or any deterrence that's going to get the crisis under control. instead, they just want to continue to process more and more of individuals into the country as quickly as possible and i think the border patrol and those folks along the border know that's a losing strategy. dagen: they're losing on immigration, only 32%, so less than one-third of those polled by fox news found that joe biden approved of his performance on immigration while 61% disapprove and then you have that poll on rescinding title 42 that the vast majority of people do not want it rescinded. they were poll watchers and followers, this administration. why aren't they watching that now? >> it's a great question. i think what that poll shows you is that the american people want an orderlies process along that

border and they're not getting it from this administration and instead hundreds of thousands of individuals are coming across the border every month and released across the united states. if you lift title 42 and remove it, the american people know that's going to make the crisis worse at the border. the biden administration is not talking about any solutions. they came out with a 6 point plan which talks about processing more and more individuals into the country. so i think their solution is not being lost on the american people and they know that it's not really border security. it's just simply processing more people faster and quicker. dagen: right. charlie hurt, jump in here. >> you know, it's really amazing, no issue more than the border shows how disconnected washington is from voters and we're seeing this clearly in polls now. where even democrat -- it's an important issue even among democrats. chad, you've done a lot, had a lot to do with making this issue

a top priority for voters. but i'm amazed at this administration when you see them promoting something like this, truth ministry or these slanderous lies about how the agents perform their duties on horseback down on the border and we see the soldier who lost his life trying to save somebody. what is the morale like are from your perspective among border patrol agents? >> well, i was just down in south texas along the border a couple of weeks ago where we talked to border patrol agents and talked to their leadership and i will tell you the morale's as low as i have seen it or heard it inside the border patrol. if you take the issue you discussed which is the so-called whipping of the migrants last year, the administration from the president and vice president and even the secretary it took them about an hour to come out

and talk sternly about the border patrol agents which we know is all false. it took them over three days to actually acknowledge that national guardsman had lost their life or had drowned or was missing, they didn't want to talk about that. i think it tells you where their priorities are at the end of the day and when you talk about the disinformation governance board, look, the focus needs to be on the crisis at the border and doesn't need to be distracted on other issues. dagen: republicans in the house and senate introducing legislation to block any funding for this newly created disinformation board which is within the department of homeland security and biden officials are saying this blowback jeopardizes broader bipartisan efforts. as if republicans would be on board with, you know, any effort to censor speech within the government but the republicans are standing up for what's

right. >> well, absolutely. and they should. i think it's important to remember that dhs is a compilation of about eight different operating agencies from cyber security to the border patrol and the list goes on and on and each one of those components has specific authorities to fight disinformation from foreign adversaries and they do that under the guise of the authorities given to them by congress. what dhs has done under this administration is create a board inside the secretary's office that's very political, that has no authorization by congress and therefore has no oversight by congress. so it should -- the work of the department should remain inside the components at a non-p -- nonpolitical level doing what they've done for the past 20 years. i don't understand it. i don't see the importance or the need for this type of board which has no authority. dagen: chad, listening to secretary mayorkas with bret baier on sunday, he was suggesting that haitian migrants are trying to get into this country illegally because of

disinformation from mexican cartels. rather than knowing that the border was wide open. >> yeah. i think this is kind of the most dishonest messaging that you can have from the department. look, individuals are crossing the border whether from haiti, venezuela, or any other country. 125 different countries. they know the border is open because of the policies, not because of the messaging. you can have any type of messaging you want. if you don't close the border and you allow individuals to come across to be caught and released. that is all they need to understand and know and that's the message that is being sent back not only to central and south america but all over the world. dagen: chad wolf, always terrific to see you, chad. thank you so much for being here. >> thank you. dagen: coming up, a bank of america report reveals a lack of confidence in the economy among small business owners. as rising inflation and supply

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dagen: bank of america's tenth annual small business owner report shining a light on the problems that thousands of businesses are currently facing. inflation, a top concern for business owners, 80% say a they're worried about rising prices. nearly 90% of those business owners say they're currently feeling the impact of inflation, 68% are raising price as a result. joining me now, bank of america president of small business banking and lending, sharon miller. sharon, thank you so much m for being here this morning, always. how are these businesses coping with this run-away inflation? >> well, we did find in our report that business owners are concerned about inflation. in fact, 88% told us that they were. i would also say they are coping by raising prices. they are continuing to expand what they're delivering and how

they're delivering. so although inflation is a concern, in fact just yesterday i looked at some of our data coming through, and we do know had that businesses are fueled by consumer spending and in the month of april our data shows that consumer spending was up 25% versus a year ago. so, yes, inflation is a concern. but there is some pent-up demand out there in the economy and so we are seeing spend happening and businesses continuing to invest in themselves and grow. dagen: more than three quarters of business owners are also feeling the effects of the supply chain crisis. sharon, tell me more about that. >> well, there is a supply chain crisis out there and there's been impacts by supply chains, whether you're in the auto industry or you ordered a couch and are waiting on a delivery. we have all experienced it. however, we are seeing that that is starting to break free a bit and the outlook is actually

positive when i ask business owners how are you feeling about your revenue prospects over the next 12 months, that number has actually increased to 64%, saying they believe it's going to increase over the next 12 months versus a year ago. so we are seeing signs of optimism. i wouldn't say that everything is resolved but we are coming out of the pandemic. we're coming out of the prices and things are beginning to flow. dagen: we found out yesterday that job openings in this country hit a record 11 and-a-half million job openings, that was an increase from the prior month and the number of people quitting their jobs rows to 4 and-a-half million, that was slightly higher than the previous record so how are small business owners coping with the labor shortage, 41% say they're being impacted by that very labor shortage, sharon.

>> i mean, i think small businesses and big corporations alike, we are all facing labor shortages and certainly a competition for talent has heated up. and many people that have actually left the corporate world or left during the pandemic, they have gone onto open businesses. so on the flip side of this, we are seeing businesses opened and in fact in 2021 we saw 5.4 million new businesses established in the u.s. which was an -- increase of 26% over the previous year. so there is activity happening. any time you have a crisis you do see some innovation, people opening businesses and that activity is very strong. dagen: what areas are they opening businesses? any particular industry they're focused on? >> many are in the service business, professionals, maybe

establishing their own practices, whether it be a dentist, a doctor, veterinarians, we're seeing service businesses and certainly across the country you'll have different types of technology businesses or businesses supporting technology as we do see more and more small businesses relying on their digital capabilities. we know that during the pandemic many store fronts were closed and so they had to shift and pivot to how they'res distributing their products and so many businesses opened to really support that effort and we're seeing strength in those areas. dagen: i have friends who own businesses whether it's like a lingerie store or she makes -- another friend makes jewelry. they went from having traditional storefronts when their commercial landlords were really trying to stick it to them during the pandemic, they just gave them up.

and their business is raking in as much in revenue as they were before the pandemic. sharon, thank you so much. thank you for being here this morning, always. terrific to see you. >> great to see you. thank you. dagen: coming up, elon musk announcing his big plans for twitter once he takes over. the hot topic buzz, next. ♪ you're tearing up my heart when i'm with you. ♪ but when we are apart i feel it too. ♪ and no matter what i do i feel the pain with or without you. ♪ dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this!

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>>. >>. >> dagen: time for "hot topic buzz," elon musk telling potential investors he is planning to take twitter public, back public as soon as three years after his 44-billion-dollar acquisition to take the company private. follow that you will? he said he might charge a fee for commercial and government users, and in attempt to grow the social media platform revenue, keith what do you make of this? >> i think this is so cool, because a, twitter finally going to be an interesting company, b, finally going to be a valuable company i would love to get hands on big shares as he comes back out of the gate. >> you've only seen charlie this is completely anecdotal

but with elon on there there is definitely a -- always been on twitter but super active. and in tweeting and responding to people certainly a greater reengaugement on the platform. >> it the degree of object knocksiousness from twitter dropped about half just watching the freak out over the notion he might come in, and buy it but i have to say that the only thing that my only real worry about this is his idea that he wants to do an edit button the brob why it button if you have why it button you lose the greatest tweet ever, by president trump, if you do anything to twitter that means donald trump can't do the confeeither

sse tweet i am not in favor of that i think a lot in the air i agree, that you just -- if i i'm a grammaramatic i will diet a tweet not deleting essence if i see a grammatical mistake and like a few minutes after i tweeted it i delete it retweet it. i think the why it button we're going to have to be screen saving all tweets from all these left wingnuts, because you know they will go back and edit. >> -- thank you charlie, you know me, so you know that that is -- um -- [laughter] -- i have a lot of them. >> your final word on this one. >> you know what real freaked out a lot of people about the fact going to buy twitter not buying twitter hills but talking about blue checkmarks everybody contributeing has to

put realm name up or going to have to shut up that is the part that is aggravating ones that don't control the narrative. >> the left doesn't believe in everybody having speech they believe in censoring the right for their own benefit, and gain, so they lose that that is why they have complete -- their heads exploded because losing power and control. and that is what is certainly what happened with hunter biden laptop story, covid information, a suggestion of a lab leek that got censored, and no more. i think that a lot of these you executi f to follow elon musk's lead if not into space in lands of freedom speech and expression next hour of "mornings with maria"

starts right now. . . dagen: could good morning. i'm dagen mcdowell in for maria bartiromo. wednesday, may 4 top stories at 8:00 a.m. eastern. today, all eyes on the federal reserve, investors bracing for fed achieve jay powell's news conference this afternoon, with the expectation, of a half point interest rate hike, this as yield on 10-year treasury has dipped back below 3% after it hit that mark, for the very first time since late 2018, 2.96 at the moment, meantime fed trying to fight inflation, which is a top concern for voters, the fox news poll shows that 87% of also no are extremely worried about rising prices and the country's future, both. this is supreme court confirmed authenticity of leak drafted opinion showing the

court is set to overturn roe v. wade. president biden and other high o profile democrats trying to take advantage of the leek to the to advocate for integrity but fund-raise for midterm election campaign elon musk has more to say about 44-billion-dollar twitter acquisition telecommunication potential investors he plans to take twitter public again in a few years after buying it, the jobs front april adp employment report out in 14 minutes' time, this ahead of the big jobs' report, out friday, a look at markets, futures to the plus side triple-digit gain on dow futures gains across the board here after all three major market gauges finished up yesterday, oil, also up, as european commission moves to ban imports from you russia, of crude, u.s. gains on brent and west texas

intermediate up more than 4% sending prices higher in the united states, european markets to the downside losses in england, france, germany, two of the markets in asia closed for trading this wednesday shanghai nikkei did not trade, hong kong and kospi in south korea to the downside "mornings with maria" is live right now. . . >> morning movers airbnb, up 5% in premarket trading after the company reported better than expected earnings after close yesterday, revenue climbing 70%, in the last quarter the company expects to post its first full year net profit thanks to surge in rentals even if hosts raise prices,match group that stock down almost 7% in premarket posting earnings after the close yesterday next quarter's

revenue forecast falling below wall street estimates, ceos said to resign after more than two years at hell, bernard kim will take over, investors braving for jay powell's news conference 2 pm eastern time expectations half a point rate hike, this is exactly the same time that president biden is set to speak on the economy. that is weird. trampling on your fed achieve 10-year treasury yield slipping after hitting 3% at the highest level since november 2018, joining me now macromavens stephanie pomboy, also joining the conversation all morning charlie, keith fitz-gerald stephanie you are seeing the fed seriously under will estimated degreeing to which consumer spending has been dependent on government handouts tell me more. >> you know if you go back look at relationship between, the arrival of checks to

meek's 345i8 boxes during the whole covid stimulus bonanza consumer spending in retail in particular one for one, every month after they got a check would run out and spend, then when check starts stopped coming spending with slumps especially discretionary spending every time you get a check surge in spending every time it drops down it collapses this has eludeed the fed who imagines that the economy is strong enough to withstand a higher interest rate you know the fact is wall street seems to share that belief. you know, aggressively priced in all these rate hikes, and continue to imagine that the economy will escape recession. and that earnings growth will you know remain solid this

year, all evidence to the contrary, and the fact is you know, you've seen the idea that the economy is strong, by number one data look at first quarter gdp, report for he number two credit market, i was listening to your discussion earlier about that, i was seeing what you are seeing is a massive increase in rates the corporate credit space. the junk yield was 4% the end last year it is 7.10 today massive increase in rates, increased 140 basis points since start of the year for junk borrowers, these guys are really going to have problems, if they try to roll all the debt this year according to s&p there is roughly 700-billion-dollar in corporate debt that through this year, higher rates are going to start to have an

impact, we've seen issueans dry up you with all respect to guest i don't know what he was look at high yield issue arns down 70% the credit well is drying up already all fed has done so far one rate hike we got a lot of -- bumps in the road to come, we will see what he says today. >> the spread, between treasurys, corporates junk how wide historically right now stephanie? does it show real concern about default risk? >> it you know hard to put it in context because, during the whole stimulus bonanza, ppp money, obviously, the fed pumping liquidity in driving rates potentially to zero, those spreads got crushed, so we're starting we are coming off all-time record low

levels. but, you know, so you we're starting higher as i said high yield, the spread is 140 basis points since the beginnings of the year four months' time yes, you look at it, long-term chart you can barely see that increase, you know moving up, but we got to start somewhere, and the fact is we've got all this debt to roll as i mentioned, and these companies contrary to popular perception do not have strong balance sheets, people look at the cash position of the s&p 500 companies, which is over two trillion dollars in cash. and they say the corporate sector is flush with cash top 10 companies in s&p have more cash than bottom 400 together, then we start to look at 500 companies, in the country, forget about all the -- you know next 500 or 1,000 et cetera, so -- this is really i think the story that no one is paying attention to, we are

going to have real issues in the corporate credit space missed, flow back to economy in terms of capex, to think nothing of dividends share buybacks wall street is most concerned about. dagen: i am going to get in a you will proo eshthis on my phone high yield index option adjusted spreads -- >> throughout history >> by the way, i encourage people to use the -- the spread web site, for st. louis fed trifk terrific that is what i do looking at spreads you were talking about, what is important, to wall street, you know share buybacks dividends earnings more than two-thirds of the companies s&p 500 reported earnings so far, 80% of the estimates what is your reaction to this earnings season so far?

>> well, i would i look at guidance, because we what look at what we've got down the road guidance has been much more negative nowhere more not plea than in consumer discretionary space to me that is critical, because the consumer is the engine of this economy, and if the discretionary consumption this notion the economy is going to continue to grow, and -- you know, much less than pace that justifies fed tight edged is going to be called into question the gaps between reality on the ground and expectation, the forecast for consumer discretionary earnings this year is 32% year-on-year in first-quarter earnings are down, 4%, so we're going to have to do put massive nufshz on the board next three-quarters to get to this level, to think wall

street is going to get real surprised at negative earnings in have quarters to come. >>. >> i will be on that spread web site. >> email me. >> you know you the. >> thank you stephanie pomboy, terrific to talk to you economy expected to see a gain 395,000 jobs ro, 24 is just the private sector he we bring numbers live to supreme court as democrats are campaigning off the high court leek, ahead of the midterms former speaker of the house, newt gingrich, is here to weigh in 8:20 a.m. eastern you are watching "mornings with maria" live on fox business. . ♪♪ the ♪

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dagen: to look at futures we wait for the adp jobs' report this is private sector payroll coming out, quarter past the her to gains across the board, following up on gains yesterday, on all three major market gauges, that is not the story this year, we had 10-year yield hitting 3% for the first time since late 2018, below that level. the story this year has been complete drop in the stocks and bonds, simultaneously. if you own say junk you lost 10% already this year o cheryl has the numbers. cheryl: 47,000 weaker than expected, 247,000 private sector jobs added for the month of april, again this is weaker than expected. not a big change in the dow the futures i am seeing but estimate remember for 395,000.

so this is a pretty substantial misfolks. again, so we are seeing that -- that number 247 but this kind of gives puts into question what estimates are going to be if those are going to change for friday big jobs' report i throw this at you -- nonfarm jobs expectation, for friday we had as revision overnight on that unemployment rate expected to go from 3.6% down to 3.5%. again, that is what we're expecting on friday, adp precursor, most of the time. for the big jobs' report on friday dagen. dagen: do we have revision in the previous month do you know. cheryl: not seeing one yet crossing, if it does -- if it trickles in on the screen, that i am using let me see if i see. dagen: i didn't mean to put you on spot. cheryl: no. all good at this point prior 455 -- arrived higher to 479 things just crossed arrived higher to 479 from 455 to 479

is the revision, but, again, we are coming in with as much weaker number, today. dagen: revision 24,000 jobs, additional jobs added. and month of march does not offset the miss on the overall number for the adp report we are watching market action, not much reaction, in the stock market, now. again, optimism ahead of the federal reserve, decision this afternoon, the press conference what do they do with balance sheets, nine trillion dollars, cheryl casone thank you so much for the getting those numbers out, like eddysplit. >> new polls shows the people are not happy with how that president is handling virtually every major issue from the high prices at the pump surging illegal immigrants ats

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dagen: hunt begins to find exactly who leaked the supreme court draft opinion, on roe v. wade. grady trimble live at supreme court this morning with more. >> good morning dagen push on at supreme court across the street at capitol to find whoever that leaker is, in a rare statement, chief justice john roberts says to the extent this betrayal of the confidences of the court was intended to undermine the integrity of our operations it will not succeed the work of the court not factored any way in same statement stayed directed marshal of the court to launch investigation at this point a source familiar tells fox news that the fbi is not involved, republicans on the hill are also focused on tracking down the leaker. >> it is outrageous breach of trust. it was solely done to

intimidate the justice on united states supreme court, fundamentally the trust of the supreme court has been breached it will never be the same going forward. dagen: kra demonstrators both sides have been gathering past two days in front of the sprument, for the democrats part they don't seem worried about who the leaker is but rather the content of the leak and dagen already sending fund-raising emails as midterms approach. dagen: thank you so much for that outside the supreme court. as grady mentioned democrats you fund-raising off leak president biden says if court does overturn roe will fall on our nation's elected officials to prognostic a woman's right to choose will fall on voters to elect pro-choice officials, this november 37 joining me now the former house speaker fox news contributor newt gingrich author of a book coming out

juvenile 12 i cannot wait to read that, the democrats misreading the american people here? >> well, i don't think they have any choice here hard-core democrats are so pro abortion including abortion on the last day that they can't back off, this to them is deeply emotional issue for those of us right to life believe abortion kills babies with very strong for voters in the medicallied weighinging in polls if you are weighing, rising gasoline prices rising food prices a million people coming across the border illegally rise in crime rates, so many other things, that people are worried about, that with actually between january 6th committee and now this fight over supreme court the democrats trailing down places aren't going to gain votes but

at least make them feel good, i think a huge mistake not to realize if you don't solve bigger problems democrats are taking a huge beating this fall few he 34e7ks bigger problems fox news the poll finds biden underwater on almost every top issue, more voters disapproving of his handling on everything but coronavirus. inflation. immigration, crime. economy, inflation more than two-thirds of voters disapprove of handling you look at asymmetric outrage at leaked draft opinion out of supreme court paltry little giving a damn about these issues that hurt every american. that is what stands out to me. >> yeah i mean look the

problem with the democrats have that they actually believe in policies that don't work. and so, they are faced with this reality that -- you know the biden policies on inflation are a disaster the biden policies crippling american oil and gas disaster biden policy open border is a disaster the biden policy of being for george soros backed left wing district attorney's releasing murderers rain it's carjackers a disaster. they don't want to change their policies. they actually believe in this stuff a counter to senate democrat in wisconsin believes i should not have any bail requirements no matter how dangerous you are. you should be released without having to put down a cash bail you get into that mind-set, they can't get off of it i think keep looking desperately for something that will distract american people, and when you have the level of pain that we are beginning to

get, i think hard to distract people they know this is not work. >> if joe biden got elected on personality he has shown paltry little empathy. >> he is the president. >> -- got elected, dagen i love you i love watching on tv, i think you are very, very smart let me disagree, didn't get elected an he personality he got elected hiding personality elected on sitting in a basement elected avoiding campaigning got elected plain outlying look what he said about hunter biden businesses, just flat lie, so, i think had people understood how cognitively challenged he was left wing he was, how many things he would do opening day, even as mad as they were at trump i think would have reelected trump by a big, big

margin. >> j.d. vans winning gop will nomination last night, vance goes head-to-head with democrat ken bian a new batch of polls bad news for democrats 46% voters prefer republicans for congress paired to 39% preferring democrats i am surprised so high for democrats how do you see all of this speaker? >> well first of all, i thought last night was an enormous victory both for donald trump, who will now had 55 endorsements win primaries. but i think 11 last night in ohio. but in addition jd vans much like herschel walker a new republican party vans comes out of ohio ael appalachian area understands blue collar workers small farmers, speaks

to populism that is you at the same time very i sophisticated able to bridge together intelligent solutions deep pocket sympathy for the average every day americans i think very good for the country for the republican party frankly last night the news yesterday set thing up a test he whether or not trump's endorsements mart cruiser to see if washer times can bring them to say trump came through an enormous victory but also as i said lincoln -- j.d. vance herschel walker new different republican party more he energetic more willing willing to take on establishment in a very positive way a great thing for america that j.d. was nominated. >> i look what this administration, is doing, to

working men and women, it is inflation is a hardship not -- inconvenience to them when you have an administration delaying, student alone payments repeatedly, again, moratorium an student loan payments until the end of august. that is a handout to the wealth. more than half this country does not have a college degree you are telling them that people are going to get alone forgiveness or not to having pay their make their student loan payments, you are really trampling on more than half the country, they are dismayed, and harmed by these policies. the personality, i was mentioning like can we get a little bit of empathy? nope, you get of a pathy. >> no, no, no, no empathy out

of biden because you are a nonperson, unless you are hard line left-winger you don't exist in his world -- doesn't care what you are doing doesn't mind lying to you about it, margaret thatcher used to say the problem with socialism you run out of other people's money biden is prepared to give away american people's future on capricious basis i have a simply challenge for senator warren a great populist in her own mind, harvard university has 51 billion, that is billion dollars in endowment why doesn't she challenge her home state university to pay off all the student loans limit tuition use part of for students why sit on 51 billion dollars i think senator war wen ought to take a look at wants real change start at harvard. dagen: i think the total endowment across the country, of the largest universities is 7 hundred billion in college

endowments, again you you took about a socialism failing, federal government took over student loans in 2010 to pay for obama care why do you think -- steve forbes why you do you think tuition going up four times rate of inflation because there is a tsunami of money standing by, willing from the federal government, to pay for garbage college degrees when you would be better off being a machineist, being a machineist rather than being getting a ph.d in humanity. . >> mike rowe goes great work on working people out there doing real jobs, makes the point that if you study how to be the right kind of welder your starting salary after two years is 160,000 dollars a year, but not social as acceptable as earning 70,000 dollars a year

teaching liberal artsed course you are right we ought to get back to practical economics but also you have to expect whether you are a hospital or university, if money there is you are going to take it, when you take it you are going to add administrators, add costs spiral of nation just keeps going up. dagen: it does, newt gingrich you can laugh at me any time, correct me any time. >> good to be with you i didn't mean to. dagen: yes, you did okay with me! newt gingrich. we will be right back. .

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>> . >> >> you march trade deficit hitting a record, cheryl casone has the details cheryl: dagen this is thing it hit widened 109.8 billion

1098.billion a record it is oil because you go into date exports for march or oil excuse me oil -- import march oil import prices 87.20 a barrel average that is 69% jump month-over-month, this is gdp this is growth basically importing oil, as americans hurting growth gdp that is widening trade deficit again record, a lot to discuss there is -- you can he crude 106 get ready for numbers next month. headlines for you this morning comedian dave chappelle attacked onstage last night in los angeles performing netflix joke store footage shows man jumping on to stage at hollywood bowl middle of the reign reportedly armed with gun and knife security pulling attacker off stage before

cared away by ambulance seemingly unfazed thinked security joking the transacter was quote transman a lot of jokes about transcommunity, chris rock came back onstage said was that will smith? a lot happening, dagen you are going to love this world war ii veteran celebrating 100th birthday 100 meter dash offer week competed in the relay at university pennsylvania, finishes 26.34 seconds earning 7th place out of nine runners standing ovation from the crowd amazing, i want to run until i am 90 might look at 100 my goal 90. dagen: i can barely get out of bed after running five miles, i am roughly half his age he runs good deal faster

than i do i am slow and creeky. >> texas democrat county judge oversighting president biden to tour southern border before his administration lifts title 42 the end of the month the judge, of course, said writing in letter to biden while final impact of migrants entering united states shared across the entirety of our great nation the initial impact is limited to border communities, such as ours. this as new fox news poll shows 63% of voters say we should keep title 42, health restrictions in have place joining mec congresswoman house foreign affairs committee small business economy member maria salazar it is astonishing that members in the other party starting with joe biden a turn blind eye to what is happening at the border and all of this suffering, because of their lax policies.

>> day of course, i agree i think the president should be visiting, that part of the country, and revise what they are trying to do by lifting title 42, they are responsible has many consequences to many areas not only, for the hispanic community i said will times creating a very bad reputation for us the browns hispanic latinos, 23% of the population people think we are not what they thought we were. the border community is up to here. because they cannot support they cannot stand the onslaught almost 20,000 people a day that are going to be trying to have surge the border if title 42 is listed it is hiebl responsible this administration had 18 months to figure out what to do, with the border after lifting title 42 you know covid was going to come to an end so here we are,

with no solution, and 20,000 people two months for this country not only that, fentanyl, coyotes child sex trafficking the terrorists, everyone would want to come through our border you know the word in central america is that the united states border is open. dagen: not just central america u.s. coast guard stopping a record-breaking number illegally haitian migrants near florida coast trying to reach u.s. by boat coast guard stopping nearly 3900 so far this fiscal year compared to 2021 when coast guard stopped more than 1500 haitians throughout 2 entire fiscal year. so that is you double and we're not even we are about halfway through the current fiscal year, congresswoman. >> that is correct. and, you know, we are the promised land, i don't blame anyone haitians cubans central americans wanting to come to

this country but any country that respects itself needs a border security that is why, i am sure that my -- shares with me from jen psaki who speaks for president saying they welcomes any republicans wanting to talk immigration law if he series we have presented user truely marie sal radar number 27, one of the largest communities, hispanic communities in the country we presented a dignity act has the strongest border security measures in the history of any legislation in the united states congress, seal borders seal it stop "catch and release," we have been -- implemented as provision where you do not have to gain game the system where is biden administration do you know what is the problem? that they believe, that every person that comes in through

that border is going to be a vote for the democrats they are very wrong. we are not socialists we want to live in the promised land we want to help this community we want to help the country we want to live here, and we do not necessarily want citizenship the big, caveat that this administration is trying to sign to take away from us thedith act that is what we need to work on. dagen: maria salazar thank you so much always. >> thanks. >> facing the fed the investor waiting for announcement press conference nine trillion dollar balance sheet former kansas city federal reserve president ceo here to weigh in you are watching "mornings with maria" live on business. ♪♪ ♪♪ ♪♪

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after 10-year treasury yield after hitting 3% highest since november 2018 joining me now distinguished sr., fellow thomas hoenig former kansas city federal reserve president, what are you expecting this afternoon. >> i think, i would expect they will go through with 50 basis points some discussion 75 i think they would be hesitant to do thatks may be later, then i think announcement of some degree, i know numbers talked about 95 billion reduction, balance sheet not sure that will be the number but you there will be a discussion of the the quantitative tightening i think the goal 3% maybe end of

the year two and quarter 2 1/2 by summer that is increase of a factor of 10 so that is a fairly significant tightening if they also shrink the balance sheet that is even further tightening another question will be, would have an effect, very strong if it starts to have a strong effect, then the question will be will they back off that? this is going to be going through everyone's minded i think this afternoon to answer your question is see a 50 base point some reduction in the balance 1450e9. >> a 3% you are talking about, federal funds rate by when? end of the year. >> that is kind of a discussion that i understand being listening in some speeches 3% by the end of the year, 2 plus maybe by the summer. a very significant increase so we will see how they follow through on that. dagen: how do asset prices react you've seen a collapse

in stocks and bond prices simultaneously. which is something you don't see that often, you lose you know lose 10% in stocks and you lose 10%, on junk bonds longer term treasury performed even worse. >> that is not surprising, when you do significant rate increases or anticipate significant rate increases values drop, remember when you were quantitative easing had zero interest rates assets increasing rapidly in fact serious asset inflation, so now you are doing the opposite you are going to see, a reduction in that i think a concern to the markets and probably a concern to fed because spark its own negative reactions, and whatever you want to call so it they are going to be very mindful of that, their job only gotten more difficult with continued

supply disruptions, so they've -- they haven't seen solved that corner. >> do folks at federal reserve know what they've done is inflate assets benefiting largely wealthy people wealth leveraged individuals have, while their -- you know, loose he monetary policy caused inflation to hit 40-year high that hurts, working men and women i point diesel prices this is not just federal reserve fault but diesel prices today at new record high national gather futures soaring back to level they were in 2008. for that like pain of inflation was focused on people, who were just trying to drive to work every day, but the wealthy largely benefited from these -- the inflation, and multi-million-dollar homes crypto, bitcoin you name it.

>> i think the federal reserve made a choice to assets inflation the rationale was yes, that is going to happen but by putting this money into the economy, to such a degree we are going to help others as well we're going to allow jobs to be created which i think was, proven to be incorrect, that is how they rationalize it, then focused on general goods and service prices, which were fairly stable around 2% or less. now all caught up with them, 2 expansionary policies they followed as economy recovered from pandemic was crisis policy 120 billion purchases every month of government securities you mortgage-backed you skusts, 18 months literally after recovery

started consequences they have to be aware of consequences but decide to do make a strayedoff in the economy. >> thank you for insights. >> coming up, no whining in the workplace. one boss's motivation for workers might be pushed pushing them toward the door big

>> time for the big buzz of the morning. one bosses incentive for his employers has the internet divided. a reddit user posted the sweat pledge which stands for skill and work ethic taboo. no whining, come in early, stay late, volunteer, no cell phones on the job, do not resent the success of others, many say they would not sign such a pledge and would rather quit. charlie, i did whoever wrote this. >> no kidding, this whole environment that we are in rehab the big tech companies and all the people that think they don't have to come into work is insane. >> call me old-school but if you are one of those holdout trying to stay at home and work from home, i think you're up to something.

>> no doubt. i don't even think that is old-school. you don't have to be slow and creaky to believe that. that is common sense. by the way, if your job is not visible, maybe you should find a different line of work anyway. >> exactly you can live off of not paying your student loan debt for a while. keith, what do you think of this list? >> i have very little sympathy for anybody wants to be a slacker. i start my day at 245. if you want to leave get out in front or get out of the way. hard work equals results and you get what you pay for. invest in yourself, invest in your work, investing your pride to take it to the next level or go home. >> charlie hurt i've gotten up at 230 in the morning for more than 12 years. >> i'm getting out of the way of both of you guys. >> you are a farmer you're supposed to get up with the chickens. your falling down on the job. >> they wake me up and i rolled over and put the pillow over my

head. >> you are a terrible farmer. i don't know if i would admit that. you have the can but not much else. >> charlie, you are the best, thank you so much and keith fitz-gerald. what a pleasure to spend the morning with both of you gentlemen. "varney & company" is up right now, take it away. stuart: good morning, everyone let's start with what's new, the results from the primaries as we head to the elections. here's the headline trumps endorsement works. jd vance won the ohio primary senate of the republican senate primary in ohio. trumps endorsement put them over the top against josh mandel. 20 2.2 229.9. enormous turnout of republican voters. in fact according to politico which leans left, the 22 candidates that trump endorsed in ohio and indiana primaries