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tv   Varney Company  FOX Business  April 24, 2024 9:00am-10:00am EDT

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after one of the nurse flowers that blooms in the united states. i was so astounded to see this moon last night, i started snapping away. it is so beautiful. i am a geek that a way. i like beautiful moons and suns. >> yeah. you're a great forever -- photographer, is this a side talent we don't know about? maria: i always had my camera last night. did you see the moon last might? >> i did not, but how wonderful if you had three guest rooms and you invited your three friends from tv to come out -- [laughter] maria: oh, boy. i want to thank you all for for being here this morning. thank you so much. great to have you. adam, thank you, hannah, have a great day. we're 30 minutes away from the opening bell, a market that is decidedly mixed, dow industrials down 61, nasdaq up 9ing. --9 8. let's get to very any and company. stu, take it away. stuart: tesla's stock zooms. elon musk gave the outlook, and that's what investors were
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waiting for. he pointed the way for tesla to speed up the production of lower priced cars. that, he thinks, will bring in far more ev buyers. he's also all in on robotaxis. investors seemed to like the idea of kind of transforming the company. the stock is up 11%. that is huge. overall, stocks adding to some of the gains there from tuesday. the dow, though, down 65, s&p up 3. the nasdaq doing well thanks to tesla, that's up 86 points. interest rates pretty much in check. the 10-year treasury is just above, well, no, it's moving higher now, 4.65%. maybe that that's why some stocks are coming down just a little from their highs. the 2-year, it was well below 5%, it still is, 4.95% there. little movement on bitcoin. what happened to the halving event? bitcoin's been stuck around $66,000 for days. no are recovery for gold. it had hit well above $2400 last week with, now it's $2335 and and now $-- down $6.
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oil $83.20 right now. gas, no change. $3.66 for regular, and and diesel is down 1 cent, $4.02. politics. hamas if exerting its influence on college campuses and america's politics. the tenting at columbia has grown. the authorities have given another 48 hours to negotiate a clearout. it is hamas that is organizing these protests across the country. in wisconsin 8% of democrats' primary voters went for the uninstructed ballot. that is a hit on biden for his israel policy. in pennsylvania, summer lee, a squad member, won her race. that is a reflection of anti-biden feeling. she used the word genocide in the or her victory tweet. and demonstrators showed up at senator chuck schumer's highs in brooklyn last night -- house in brooklyn last night. republicans are standing up against the antisemi. tick tide. speaker johnson will speak to jewish students at a columbia this morning. on the show today, congress says
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tiktok, it tells them, you've got one year to sell to a non-chinese owner or you're banned. now comes the hard part, getting it done. the chinese don't want to sell. there will be long court battles, and its 170 million more than users don't all want to go elsewhere. a lot of hem vote. wednesday, april 23rd, 2024, "varney & company" is about to begin. ♪ ♪ stuart: all right, everyone. the anti-israel protests continue at columbia university many new york city. two deadlines for clearing out the tent encampments, midnight and 8 a.m. this morning, they've come and gone. the latest, please. >> basically, we just have to clear these people out. you're having a lot of protests that are here underway, and like you said, there's going to be a lot of sort of anti-semitic tide
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that are coming in. people want to see what these universities can do, can they clear them out. you had a lot of arrests at nyu and columbia in the last few days trying to see if nypd is can clear these people out. again, stu what's so interesting is columbia and nyu would be the largest property taxpayers in the city, the largest property tax owners, but they are exempt. does money change the tide? does federal funding change the tide with all of this? that'll be interesting to see when the pressure if really starts to hit home at these universities. stuart: that that assumes that the federal government wants to turn the tide -- >> bingo. stuart: i'm not necessarily going to assume that. brian brenberg, your co-anchor, is with us this morning. by opinion is this: our society and politics are being taken over by hamas, taken over by ugly anti-semitism. what do you say? >> i think that's exactly right, and one reason you know that is because the deadlines that these colleges set for these guys to clear out come and they go.
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and they come and they go. here's what's happening. free speech is important on campus, but you have got to have a very clear boundary e around it. and when these guys go over that boundary, they're gone. that hasn't happened at column columbia -- columbia. that hasn't happened at yale. that hasn't happened at nyu. that's why it continues to go on here. the protesters have the initiative. they don't have right on their side, but they have force on their side. this isn't speech, it's intimidation. stuart: the president of columbia has given, what, 48 hours to negotiate them getting out. they say they're going to stay. >> here's the problem, the word negotiation. you don't negotiate on in this. that's why you have a policy. you put a policy in place so that when you get to the policy boundary, something happens. it's not a negotiation, it's a move. you're either inbounds or you're out. these guys are out of bounds.
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and taylor's exactly right. one of the reasons they can do it is because they've got the backing of the federal government. they've got the backing of the state government. they've got all this money coming to these students, subsidizing their ability to camp on campus. if they're camping on campus, they've crossed a line. they should be gone. stuart: i think, like me, you're fired up can be -- >> i am a, indeed. i used to be a professor. you deal with it the right way, or you get this. stuart: elite colleges have been basically shut down by anti-semitics, and and that's a terrible damn thing. >> they've been taken over by it. it's new york, that's right. okay, stuart. you're as fired up as i am. we better stop because we could get, you know -- stuart: my head's exploding. calm down, stu. movingen on. tesla, there's something good. the stock is surging despite if reporting the largest revenue decline since 2012. now, i think this rally in tesla, it's all about what mix is saying about the future for the company -- musk.
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>> by go. all the bad news was priced in. the stock had been down 43% from its latest high in just the last few months, so you're really coming into this print with a lot of low expectations. the bad news behind this last quarter, it's all a bad. let's look forward. what does the future say? it is the robotaxis, it's more pulley e self-driving autonomous if vehicles, it's a new, cheaper model around $25,000 -- stuart: the cheaper model. >> bring in the mass fires, let's spur demand. let's hope the margins stay intact. that's one thing analysts will be looking for. overall, i think investors were really relieved musk showed up, he was the adult in the room on that phone call last night. stuart some of of the tax breakses congresswoman back. they've come back. is he going to produce cheaper model cars? he wants a mass market for evs, he might just get it. that's why the stock's up 12%. investors are backing his vision of the future. >> and you can do a mass model and not worry about margins if it's highly sold and produced,
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right? so what you lack this in margins, you can make up in volume. that's what elon is doing can, and we'll see fit works. stuart: all he's got to do is sell the cars. thanks, taylor. check those markets, please. 20 odd minutes to go before we open up fully. dow's down 50, nasdaq up about 100. the stocks have pared some of their gains this morning. edg -- eddie ghabour is with us. are we many a bear market? >> stuart, i don't think we are in the start of another bear market. i do think that potentially happens towards the end of this year going into next year when we get a big reacceleration of inflation. but i don't like the setup here near term. this is a bounce after a really ugly week last week, and i need to see how we get through these next 7-10 days. we have inflation data, we have a slew of earnings this week, and then we have the fed next week. so, again, all eyes on interest rates and the dollar.
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i think we could still see some volatility to the down side here in the near term. stuart: but the one area that that you're buying into, i believe, is energy as in oil stocks and what other energy stocks are you investing in? >> yeah. so, stuart, energy's the area that i think -- it takes the guessing out of what the fed's going to do. if the fed cuts rates, that's going to cause asset rates to go up. energy does well there. if the fed doesn't cut rate as, it's because we've seen an acceleration in inflation, and energy does well there. big cap oil is the only dip we bought last week after selling the highs on monday, and we ought, added to our xle position for clients. and i'd rather be in the large cap energy plays right now. they're going to make a really strong the revenue number, cash flow and, again, it will do well in this type of regime that we're in right now. inflation or deflationary situation that we're n. stuart: what happens if any beg with it can company, and i mean the really big tech companies reporting this week and next, if
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any one of them disappoints, what happens to the cover all market? >> it'll be a broad-based selloff. you'll see some things similar to what we saw last week. look, meta's a big one today. we know they're reporting after the bell. they've been one of the strong ones. if they disappoint, look, you could see the nasdaq go into negative ifer the territory in the near term. we were also there last week. i'd be very cautious here. again, we with raised cash on monday and low areas because it was a good start to the year, and we haven't bought back in tech yet. patience is difficult, but sometimes that's the most prudent if thing to do when you're risk managing, and you're going to have to be in and out in this crazy market right now. stuart: patience is a very chew. i don't have much of it. -- virtue. eddie ghabour, thanks for joining us. see you again soon. now this, jamie dimon is worried we could repeat the economic problems of the 1970s. oh, i hope not. i was there and it was awful. he's talking about stagflation, i think, isn't he? >> he is. let's remind if ousts what
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stagflation is, right? if slowing growth, high inflation. he was speaking yesterday, and he did still say right now the economy is still booming. he's actually pretty impressed with it, but he thinks we could have to push rates up to 2 anywhere up to 8%. if those higher rates start to slow and cool the economy but inflation is sticky and does not come down, that that's that classic stagflation scenario with, something he's worried about. it's on the list of a lot of problems that he's worried about as well -- stuart: he doesn't necessarily expect this to happen, but it's the one of the concerns that he's got top of mind, so to speak. >> exactly. if you start to see growth starting to slow, it could be something we could deal with. he says the risk is greater now than it has been in the last 20 years. >> i lived through the 1970s in america, it was awful. thanks, taylor. check futures, please. about 19 minutes to go to open the market. a mixed picture. dow's down, nasdaq up. speaker johnson is meeting
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with jewish students at columbia university in new york city today. why isn't president biden going? why isn't chuck schumer going? good questions, we'll try and answer a 'em. new york city police blame outside agitators for fueling anti-israel protests at columbia and nyu. i'll can ask a student at george washington law school if that's what she's been seeing, and that's next. ♪ ♪ if
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stuart: 15 minutes to go til the opening of the markets. nasdaq up about 80, dow down 60. columbia, as in columbia university, says it is, quote, making progress with protest representatives. c.b. cot cotton is there.
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two the deadlines to remove the tents came and went. what progress are they talking about this? >> reporter: hi, stu. well, this is a perplexing situation to say the least. protesters say during those ongoing negotiations at one point the university threatened to bring in the national guard to sweep the encampment. columbia university appears to be backing down for now and says it will continue negotiating with these students for at least two more days. now the students have agreed to a series of concessions to include prohibiting discriminatory or harassing language. aerial footage from this morning shows many tents still remain there, and jewish students say this is where hateful rhetoric is happening. >> we hear slogans like from the river to the sea, palestine will be free, there's a lot of questions about, well,ing where does israel fit in there?
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or calling people nazis or saying go back to poland, it's genocidal rhetoric, and it's very aggressive. there is a lot more fear on campus within the last week, certainly. >> reporter: many are questioning who is funding this movement that's a spreading across the country. similar tents can be seen on campuses across the country, and the nypd and new york city mayor eric adams say professional agitators are bringing in weapons to ignite confrontations with police. droves of nyu students walked off campus yesterday condemning the arrest of more than 10 100 people -- 100 people the night before during a protest where officers say bottles were violently thrown from the crowd. republicans want visas are revoked for international students participating in these protests. >> any foreign student in the united states today that is advocating the destruction of the state of israel, that is advocating violence against the
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jewish people should not only be suspended from the school they're attending in this country, their student the visa ought to be revoked, and they ought to be, e pelled. >> reporter: and house speaker mike if johnson is set to meet with columbia's jewish students this afternoon. stu, back to you. stuart: c.b., thanks very much, indeed. now, the white house continues to kind of dodge questions on the anti-israel protests. watch this. >> you all remember that he made the decision to run because of the anti-semitic that was chanted in charlottesville, and that is something he will continue to do. he's, of course, aware of the protests. we know that this is a painful moment for many communities. we respect that that, and we support every american's right to peacefully protest. finish but as i said, when we witness calls for violence, physical if intimidation, hateful anti-semitic rhetoric, those are unacceptable. if. stuart: a lot of that was
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blaming trump, of course, but they did say that they, hateful anti-semitic rhetoric, those are unacceptable. okay. george washington university law student tammy joins me now. house speaker johnson, he's going to meet with jewish student it's at columbia later on today. would you like to see president biden do the same thing? >> well, it is absolutely his duty to ensure that jewish students and just any minority groups are presented -- protected on our college campuses. our founding fathers envisioned a nation where every single individual could actually practice their faith and be free from any sort of threats like what we're seeing on college campuses. it is very unfortunate to see that universities are failing they are students and, you know, personally as a student who has immigrated to the united states because i wanted to get away from the same type of oppression that these groups are advocating
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for, i tampa little disappointee disappointed to see that these schools are failing. this is not something that the americans should stand for. stuart: have you had experience with hostility towards you, you personally? >> yes. given the fact that i have been very outspoken can and supportive of or my my jewish friends, i have been called numerous names on the books as much as a sellout and and a betrayer of people because i'm originally from iran. what people forget is that american universities are currently fostering an environment where a hay dead -- hatred towards or minority group requests including jewish students and also others is actually thriving, and that's very dangerous given the fact that we don't know who's actually funding these organizations, the rhetoric that they bring to these protests is very hateful. it's anti-semitic. it's extremely disturbing. and they have harassed also, had
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physical violence against jewish students. that's no longer a peaceful protest. stuart: right, understood. >> that is a crime. stuart: listen to this. new york city's mayor, eric adams, he he warns that it's outside agitators that's fueling the protest. roll tape, please. >> what i learned during the black lives matters protests when i was notified under the previous administration that there were those that came into the city with the determination of really disrupting and towering our city apart. tearing our city apart. we strongly believe that is the case right now. we can't have outside agitators come in and be destructive to our city. stuart: is that what you're seeing at george washington, outside agitators coming on campus? >> i've seen many individuals that absolutely do not look like they are students. they all cover their faces, to it's very difficult to identify them.
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however, they carry verying big flags and expensive equipment that brings the question where the funding is coming from. we mow that there are a lot of forces behind hamas right now, and and they're controlling all as aspects of the narrative. for example, the islamic republic of iran is one of the driving forces of this war in israel, and what really worries me on campuses is that there are a lot of students that are very sympathetic to the cause that the islamic republic and other radical islam ec governments are currently adhering to in the middle east. and i think the problem is mostly culture, and that's why i believe education is especially important. unfortunately, our universities are failing our students. stuart: they are, indeed. in that respect, they are failing our students. thank you very much for joining us in this morning. >> thank you so much. stuart: check futures, please. opening the market in about 6 or 7 minutes. nasdaq up 100, dow down about 2525. we'll take you to -- down about 25. we'll take you to wall street for the opening bell next.
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bell rings on wall street, you're going to see pretty much a mixed market. solid gain for the nasdaq, that that's because of largely tesla which is up 10 or 11%. 9 the dow is down a mere 26 points. a shah ghailani joins us now. i want to talk about tesla. why do you call the rise in the stock a dead cat bounce? that's some bounce, man, for a dead cat. >> well, look, stuart, you put that in per e spect if i have, the stock's been in an ab awful a down trend and getting to 160 where it looks like it might open just brings tesla up to the bottom of the down trend. that doesn't really do much for the stock. as far as what happened yesterday in the earning, i'm not impressed. all the numbers wered bad. all the numbers were below expectation, below consensus. not only that, the revenues were down 9% or year over year, and the thing that bothers me the most is inventories as far as how long it takes to sell tesla went to 28 days from 15 days at the end of the fourth quarter. so that's a big jump. so in other words, they're not
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selling cars, their revenues are coming down. i don't know what the expectations are for things to turn around. they're not going to have a new platform probably until early 2025 at best. stuart: well, musk is looking to the future and saying that he's going to get a mass market for evs by lowering the price and going all in on the robotaxi. you discount that completely, so you would not be buying tesla at $162 this morningsome. >> no, stuart, contrary. we have been buying put spreads on tesla, and we -- we took them off the day before earnings ismade out quite well. i'm looking for any pop to probably be shorted again and buy some more put spreads. i don't think this rally can continue on. i don't know, the stock has to get to $171.80 for me to think about, okay, that's maybe hope for it, but good luck getting there. stuart: you know, we used to have a buzzer on program, and if any of our guests used jar gone or strange language like put spreads, we'd bring the buzzer in, but -- there you go.
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i thought we might get -- [laughter] before we close out, you've got half a minute, big tech earnings. if one of them disappoints, does it take the whole market down? >> only if it's microsoft. if microsoft disappoints, and that's highly unlikely, that could shake the market up. it's going to take a couple of them, probably microsoft and google, if they both miss, and and i don't think that's going to happen for either one of them. then i think the market will be a little bit nervous. earnings should be pretty good for both of them, and i think meta if should be good. we'd have to see something really disruptive for any of those big names to turn the market around. if that a does happen, we are going lore. tour stuart okay. shah ghailani if, thanks very much, indeed, sir. appreciate it. it's u-copp's basketball team that's ringing the bell at at the new york stock exchange. the market is open. a solid gain -- sorry, you're looking at yesterday's close. the dow in the very early going
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is down about 20, 25 points. that a's not a big loss. you've got a lot of selling among the dow 30. i can only see 8 up, i can see 22 down, so that's a down market for the dow as we start out. the s&p 500, though, that's slightly, i think, on the upside. yes, it is, about a quarter percent higher, about 5,000, 5,083 right now. the nasdaq composite, i'm looking for a big gain there and, yes, we got it. not bad, .65%, that's a 100-point gain. show me big tech, please. that's where the action is this week. we have, where are we, we have meta, microsoft are up. let's have a look at nvidia shares. i believe they're up this morning, $12, $836. taylor, has elon musk got anything to do with that? >> he absolutely does. so yesterday on the call, remember, he talked a lot about the robotaxis, fully self-driving technology, saying he needs instead of 35,000 h-100
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nvidia chips, he now needs 85,000 of these chips. previously, he talked about amd being one of their big supply possessor, but now fully saying nvidia might be the way to go. so increasing the demand for chips. envied ya, everyone wants the chip -- nvidia, everyone wants the chip. stuart: how about meta? they report after the bell. >> 36 billion of revenue, 32 on the bottom line. remember, a.i., a.i., a.i. is the key that is the everything that analysts want to see. zuckerberg in the past has talked about massive compute infrastructure. that is what they need to power a.i. across all of their platforms, but is it priced in? if can they continue to use a.i. to blow it out of the water, that'll be something that we're looking for. stuart: it looks like e they're pricing it in now, up 2% i'm interested in boeing. the stock's up 2.8%. how are -- i guess they're doing, are they dealing well with all the problems they've come into?
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>> i think they would. so what the ceo has said on the call is, yes, their financials are hurting because they're pulling back purposefully on production and deliverly. they're burning through almost $4 billion in cash in the quarter, but it's intentional to make sure that a quality comes fors. and i think analysts are liking that knowing that quality comes first before the financials. if they get quality in line, the financials can rebound later. stuart: get your reputation back. at&t, that was your grandfather's stock is. how's it doing now? >> it's doing pretty well, right? they're adding subscribe isers. about 349,000 subscribers they're adding, and this is a good trend because verizon lost subscribers, t-mobile will be next, to hear from them, so so far, so good. maybe it's that good economy that jamie dimon is talking about. tower stuart hasbro. >> not good. well, in terms of they're up 11% but not good in that the slowing toy demand is starting to get sluggish. customers are pulling back on
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discretionary trend, but hasbro is doing a really good job of managing costs. digital gaming revenue, managing the costs so that the bottom line looks good despite some of the slowing demand on the top line. analysts happy with at least the company's turn-around plan and what they're able to do with that. stuart: i see biogen. i know it's up this morning premarket -- >> i'm giving you everything in the green today. stuart: we like that. stick around for a while. [laughter] we like it. up 4%. this has got to be something to do with that alzheimer's drug. >> yes. it was approved by the finish da in july, and there was only sort of lackluster sales last year, only about 10 million in sales for the drug, and they were like, oh, no. is this not the blockbuster drug we thought? guess what? if it boomed. in this quarter alone, $19 million in sale, so looks like the drug was off to a slow start, but it's really the starting to pick now -- can up now. slows the progression of alz hemoer's so, clearly big demand, and it's working for the stock. stuart: i want it. >> you don't need it, stu, i
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keep telling you. you don't need it. stuart: why is oracle moving its world headquarters out of austin, texas? >> they're going tout of austin but into -- out of austin but into nashville because nashville is the health care epicenter9. remember, they just bought the medical records company -- stuart: is it? >> nashville's the place to be for had been, 1000%. yep. -- 100%. they're a saying that's where hay want to be. they want to build a huge, new campus. now, it's not happening tomorrow, but later down the road for the company, that's the plan. remember, they left silicon valley in 2020, they moved to austin and maybe nashville is next. really taking advantage of health care, they think that's a big advantage for the company. stuart: how many major corporations move like that, california to texas, then to nashville in four years? >> i think covid taught us if you want to do it, you can do it. stuart: airbnb, i believe they're up this morning because somebody's bullish on it. who is it? >> they're raising their price target to 200, so not bad given
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that the stock right now is $165, raising it up from 150. we're not hearing a lot from the company, but in the past they have said that international expansion has been -- has been a big priority for them. we did, of course, hear from jamie dimon talking about a booming economy. airbnb clearly one of the big quinners if you're looking a -- winners. my sue hoe likes the stock. stuart: thank you, taylor. we're down a mere 17 is points. dow winners, there are some. let's have a look at them, headed by boeing, visa, intel, microsoft, nike all on the cup side, all dow stocks and winnersers. s&p 500, tesla, hasbro, web -- boston scientific, what is that? [laughter] >> i don't know, stu. stuart: i don't know that one. tesla, though, that's up 11%, and and that's a winner, right? nasdaq composite, the winner there is tesla, up to $1 is 61.
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costar, texas instruments, on semi. did i get all of that right? >> you did. on semi and analog are good chipmakers. stick with those. stuart: the 10-year moving up, 4.63%. the price of gold moving down again, off $6 at $2335. bitcoin hovering around $66,000, and it has been for a week. oil, low $880 a barrel -- 80 a barrel area, $82 a barrel now. nat gas always a below $2 and still is below $2, 1.74, to be precise. a gallon of regular gasoline, $3.66 on average. for diesel the average is $4.02, and that's down slightly. coming up, you maybe may remember chazz palin terry as sonny in a bronx tale. watch this. >> is he a good friend of yours? >> i don't want even like him. >> e there's your answer right there. costs you -- 20 to get rid of him, right? he's never going to both bother you again.
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he's out of your life for $20. you got off cheap. >> you're always right. stuart: okay. he's a native new yorker, and he's pretty fired the up at how the city has changed. chazz is going to be here in the 11 1:00 our.. >> zack sage fox made a lot of money on it can doc, but he wants it ebaned. summer lee won her house primary in pennsylvania. what a does that say about hamas and democrats? i'll put it to karl rove. karl is next. ♪ ♪ baby, i'm ready to go ♪ if
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hi, i'm ben, and i've lost 60 pounds on golo. i currently suffer from nerve damage which kept me bedridden for six months. i was very overweight and depressed. i was skeptical when i first ordered golo, but the condition i was in, i was willing to take the chance, and the chance turned out to be my lotto ticket. golo gave me back my life, and that's why i'm here. (announcer) change your life at golo.com. that's golo.com. stuart: 12 minutes in, the dow is down a mere 30 points, but the nasdaq is up 138. i now this, swing state pennsylvania held primary
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elections yesterday. they're important. bryan llenas is there for us. did biden have an uncommitted problem? >> reporter: stuart, good morning. look, it could take weeks before we know how many uncommitted votes were actually cast yesterday, but the uncommitted pennsylvania campaign here which is pro-palestinian was hoping to get over 40,000 voters to write in uncommitted to protest biden's israel stance. ing now, meanwhile, yesterday the anti-israel democratic congresswoman summer lee easily won her democratic primary in pittsburgh over a pro-israel candidate. the squad member was among the first the call for a ceasefire in gaza. she's opposed house resolutions that condemn anti-semitism and hamas, and she voted against recent u.s. aid packages for israel. >> there are a lot of people who wanted to convince us that we could not be pro-peace and win in this district. this movement is a movement that
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disaa vows all forms of hate, we disavow in western pennsylvania every form of anti-semitism or islam phobia or anti-blackness. [cheers and applause] >> reporter: republican brian fitzpatrick easily defeat thed his primary challenger, an anti-abortion activist. the more moderate fitzpatrick's seat is one of 16 congressional districts up for grabs in november that president biden won. meanwhile, pennsylvania senate race is officially set, dave mccormack will take on democrat senator bob casey. both candidates run unopposed, it will likely decide the balance of power in the u.s. senate. president biden and former president trump officially won their primaries. the rematch is set in what's the most important state in biden's re-election campaign. >> he's not winning the presidency if he doesn't win pennsylvania. i i think it's pretty much that simple. if this is a key case for him. the president, former president trump can wrest this away, he's got a pretty easy path to the
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nomination, relatively speaking. >> reporter: speaking of a protest vote, stuart, nikki haley received 16% of the vote yesterday, about 150,000 people votesed for her -- voted for her. that is interesting because she dropped out about two months ago. look, if former president trump's going to win pennsylvania, he's going to have to coalesce the republican party. stuart? stuart: we hear you. look who's next, karl rove. the man himself. i don't see the white board yet, but i presume it'll make an appearance later. karl, i want to talk about congresswoman summer lee. as you may have just seen, she won the primary if. she's a squad member. that's a squad win. she's vigorously anti-israel. what does that tell you about hamas and the democrats? >> well, it tells us that they do have a purchase on a significant part of the democratic primary voter in a deeply democrat district like this is. summer lee was opposed two years ago very strongly by aipac and
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other pro-israel groups and defeated their candidate. this time around they sort of sat on the sidelines. this is not the biggest test for of their political power, i think that's coming in cori bush's race in st. louis. they basically took a pass on it. she was opposed by a pro-israeli republican, jeff yass, who underwrote a superpac against her, but she dismissed it as a republican trying to take her out. i don't read much into it except to say the democrats have a problem because there is an element of their party which is anti-israel, pro-palestine, and by that i mean endorsing things like from the river to the sea, a slow began calling for the extinction of -- slogan calling for the extinction of the state of israel. stuart: i don't know where jewish voters find a place for themselves in the democratic party. president biden spoke on abortion during his campaign event in florida. roll that tape, please. >> trump goes on to say individual state laws are working, his words, brilliantly.
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if brilliantly. it's a 6-week ban in florida. it's really brilliant, isn't it? trump is literally takes -- taking us back 160 years. he says it's up to the states and this is all about states' rights, but he's wrong. the supreme court was wrong. [cheers and applause] it should be a constitutional right in the federal constitution, a federal right. stuart: all right, karl, how potent an issue is abortion for bead. en? if is it a game-changer? >> no, it's not a game-changer, but it could hurt if the republicans don't have a better answer than we're going to leave it up to the states, because people in the states want to know where you are on this. the president would be better off if he said it ought to be left up to the states and if i were a legislator or a governor, i'd be advocating that rudd abortion up to 14 weeks, 15 weeks and after that had tension exceptions for rape, incest zest and life of the fore if. i think -- of the mother. i think parents ought to be involved in the decisions of
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their teenage daughters, and i'm totally opposed to what democrats want, abortion in the second and third trimesters. show some empathy on the issue. that would help make it a winning issue. but if it's simply we're going to leave it up to the states, biden and the democrats are going to be able to point to florida and arizona which allow abortion only in the fest 6 weeks, and they'll make hay with that in certain elements of the population. this is not an absolute weaponner for the democrats. we saw that in virginia in the off-year elections where the republicans were on the receiving end of abortion attacks, and they took every statehouse of rell -- delegates district and every democratic state senate district that had been won by biden by 9.5 points or lessment. imagine what the congress would look like if the republicans were able to gain all the seats that joe biden had won by 10 points. it'd be a big shift in the congress. they've got of to have an answer better better than we're going to leave it to the states. stuart: just looking briefly at trump's trial in new york city, do you think he's gaining some
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sympathy in the electorate because he's stuck in court whilst biden's out there campaigning? >> well, i'm not certaining tha, but i think it's less because he's stuck there than it looks political in that the democrat d.a. is going after him. his campaign says they've been raising a lot of money by talking about this in their internet appeals. but, look, we're at the beginning of this process, and this is not going to help his, you know, mental attitude, and it's also not going to help the more we hear about this unseemly, you know, activity to hide personal relations that he had with various and sundry women over the years. we're at the beginning of this. we don't know how it's going to play out. minor advantage to him financially right now. keeps him off the a came -- campaign trail, but we don't know how it's going to play out in the weeks ahead. i think it's the going to end up being somewhat hurtful to him but not dispositive. stuart: we missed the white board.
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of next time maybe. karl rove, see you again soon. hamas now dictates america's mideast policy. what a switch. hamas butchers jews, israel forcefully responds and now all across america israel's accused of genocide, and hamas is behind it all. that's my take. schools raise their i tuition by 60 cents for every familiar dollar they get request. kelly saberi breaks down the skyrocketing cost of student debt next. ♪ ♪
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stuart: well, one week from national college decision day and interest rates for student loan borrowers are set to hit the highest level in more than a decade. kelly saberi this many chicago for us. kelly, spell it out for us, please. in the last 40 years, how much has college tuition e gone up? >> reporter: we're told by the labor department that tuition and fees have increased by 859% since 1983.
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in the same time period, inflation has increased 219. that means that on average, a private institution like the university of chicago will run you about $41,000 while public school tuition costs an average of $1,000 and, of course -- 11,000, and, of course, that doesn't include room and board. couple that with the highest borrowing costs in 15 years, federal student debt interest rates are mandated by the federal law, not the department of education. this is a set formula that uses u.s. treasury data from the month of may. so for the next academic year with, we can estimate a rate of 6.61% based on the april auction. again, that official number will be determined next month. now, not only is that up from 5.5% this year, these recession era levels. in the 2007-2008 school year, the interest rate was 6.8%. it began to decrease every academic year through 2014 at
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which point it began to fluctuate. interest on government student loans for undergraduate is capped at 8.25%. according to the new york federal reserve, for every $1 received by higher education institutions in subsidized federal student is loan, college tuition increases by 60 cents. now, the white house has forgiven $153 billion so far in federal student the loans. still remaining, though, is $1.6 trillion. stuart? if. stuart: $1.6 trillion just like that. kelly, thank you very much, indeed. see you again soon. and i want to say, taylor, thanks so much for johning us for the hour. >> my pleasure. stuart: we will watch you, by the way, on "the big money show," 1 p.m. eastern here on fox business. >> thank you. stuart: still ahead. liz peek, a tiktok star, zack sage fox, congressman cory mills, actor chazz pal ministerially and the 10:00 hour
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