Varney & Company : FBC : June 3, 2024 11:00am-12:00pm EDT : Free Borrow & Streaming : Internet Archive (2024)

>> this was like nothing else. the minute they showed trump and dana white on the jumbotron, the

crowd stood to their feet, everybody cheered, everybody went crazy. >> they're willing to break everything in order to maintain their own grip on power, and people i think are starting to see through it and they find it disgusting. >> they're just allowing these individuals who are here illegally to continue to commit more crimes. this is where the reckoning has to come in november. >> the policies from this administration, from the biden administration, are clearly what caused inflation and reversing them will reverse that inflation. >> this system has been corrupted, it's been congressmen deered and overtaken by radicals that hate this country and actively trying to burn it to the ground. stuart: i like that music. there's a certain rhythm that gets you going, especially on a monday morning. johnny, be good. that's new york city on a beautiful, sunny morning. we had great weather this weekend. here we go. 11:00 eastern time.

it's monday, june 3. check those markets. multiple new york stock exchange stocks have now been halted because of volatility. the new york exchange confirmed it. it is due to a technical issue and the exchange is investigating still. the dow down 200, nasdaq holding on to a very small lead. big tech is a mixed picture and earlier today all up and now not so. meta, apple, amazon up, alphabet, microsoft down. check the 10-year treasury yield. it was coming down. it's still coming down. 4.41% as we speak. now this. stuart: goldman sachs says the gigantic data centers under construction driving a 160% increase in power demand by 2030. that's a lot of use. and did you notice include all the electricity we'll need for

electric vehicles. climate guys insist solar and wind will come through for us all. get real, that's not going to happen. the grid, such as it is, is already struggling. activists are loathed to admit it, but the truth is we'll need a lot of oil and gas for decades to come and like it or not, we're going to need nuclear power too . the left doesn't like that either. there's a direct conflict between biden's green dr dreamsd energy reality. there's going to be a clash. there's going to be energy inflation. what are the democrats doing? they want criminal charges brought against oil and gas companies on the grounds that they are responsible for inflation. editorial in "the wall street journal" "hang the oil and gas ceos". senator chuck schumer and 22 fellow democrats want them to prosecute big oil and offering an excuse for inflation that biden's own policies created. biden says corporate greed gave us inflation. the reality is it's his massive

green energy spending that are hurting us and will continue to hurt us. this election is really about your wallet. third hour of varney starts right now. stuart: steve forbes joins me this morning. are voters going to join me when they're inflation. >> answer is no. it started under joe biden is back 2,000 years back to roman times, stuart, blaming scapegoating for inflation. they blamed christians and in medieval times they blamed witches and today it's greedy oil executives and greedy people of the like and american people see it's his policies. who's hurting drilling? who's making us buy evs that most people don't want.

gas stoves and pizzas in new york city for crying out loud. stuart: he can't retreat or reverse course. >> no, he digs himself deeper and deeper and good for republicans. all they have to do is take your car. voters not going to respond well. stuart: thank you for the history lesson. took us back 2,000 years. i wasn't around then. donald trump said he can bring the country together if he wins the election. roll it. >> people also say can you bring the country together and the answer is yes. success will bring the country together because hi it together. before the china virus came in, i had it together. we really had it together, and it would have stuck. everybody was doing better. the country was doing better than it had ever done and going back to the same policies and then some. stuart: steve, do you really think trump can bring us all back together again? >> they may not love him, but i think they would be glad they put him back in office.

ronald reagan in 1980 went through a rough period fighting inflation and putting in inflation policies and getting growth policies in place, but in 1984 carried 49 out of 50 states. success breeds better attitudes. better temperaments. so in terms of donald trump -- stuart: that might -- sorry, but they liked reagan. he was popular as a personality. they liked the guy. lot of people do not like trump. >> but they'll like his policies. back to richard nixon, history lesson, before he got himself entangled in water gate, he won and not the most pleasing personality in the world carried 49 out of 50 states in 1972 and ending to get nonwar and people thought inflation was under control and he didn't and people thought he did. guess what, policies seemed to be working and he won in a landslide and country came

together. stuart: think if trump reelected would really put those policies in place, which would bring us back together like energy foreign policy, immigration, border, et cetera, earths? is he in a position to do all that? >> he know this is is hiss last shot and last shot for wild horse saloon reigns leading repeat he was mistreated and by golly did certain things right like policy in china and border and energy and things like that. reducing taxes and people will look at what happened, not the personality. stuart: we'll see. steve forbes, thank you for joining us. >> thank you. stuart: see you soon. check the markets, please. we've got technical difficulties with the halting on the big board and down 222 and exchange is investigating. nasdaq now up only 18 points. jason katz looking at market this morning. the market just didn't react to trump's did it?

>> they've had bigger fish to fry and focused on the fed and good reason. there's other issues that attention diverted and geopolitics and stubborn inflation and above all what the feedings next move is. people will vote with their wallets and more at stake in this election than i can ever remember. stuart: what's at stake in this election? tax, spend, border? >> yes, yes, and yes. >> going from 21-28% and putting us at highest rate globally and bye back tax going from 1-4% tax and not just corporations and individuals are still dealing with nagging high inflation and then the not so ample american has a lot at stake too. looking at long term capital

gains rates and dividend taxes going up to nearly 45%. that'll suck money out of the system. i will tell you there's more at stake in terms of voting with your value wallet than any in recent history. stuart: sounds like in political position and sounds like trump will be better for the economy on the measures you've spelled out than biden. i think from a standpoint of dealing with not only the border but inflation and people are going to tend to vote with their wallets. stuart: i think they will. jay on katz, thank you for joining us. look at 2-year down to 482. got it. lauren's looking at some of the movers this morning..

i believe boeing up 3%. lauren: what a weekend. star liner didn't take off. boeing up 3.5% and saudi budget airline fly ideal flying up to 20 web bodied jets and boeing 377 is a potential contender and a $5 billion deal at list price and good news for boeing. stuart: good news at long last. lauren: bad weekend and bad couple months. lauren: they do zantac. lauren: correct, down 8% after u.s. court ruled that over 70,000 lawsuits can go to jury trial, which could also include expert witnesses. those witnesses could link the recalled heart burn blockbuster zantac pulled from the market four years ago to cancer. stuart: ouch, that would hurt them. lauren: yes and the cost of all that could be $3 billion. stuart: why is target, i believe they're down 2% from last count, they're down 2%. why? lauren: the initiated coverage

with underperform at $116 price target. the stock is at $153 now. a, the consumer is weak, b, wal-mart, amazon and temu pressure is strong. those are the two reasons. susan: target at $153. coming up, new york times printed on opport op ed saying r biden should take the plea deal. has biden family lost spot of the types. good golly. donald trump said he has a plan to end the war in ukraine if he's reelected. we have detailed on that. mitt romney says alvin bragg committed political malpractice by taking the trump case. we'll ask former doj trial attorney roger se severiano in e agrees with that. he's next. ♪

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stuart: ashley, which groups of voters are bumping trump? ashley: well, minorities and independents for sure. the trump campaign said the former president is a victim of political persecution and claims he and the black community share basically a frustration over unfair justice system. the campaign said the legal attacks also pushing more independents towards trump and here's what eric trump told maria bartiromo on sunday morning futures. watch. >> swing of independent voters after this conviction has been unbelievable and no one believe it is, and they're literally feeding him, certain segments of the population and might not have had in 2016 and 2020

because for the first time, they realized that the system's coming down and he's the victim. he's the victim that oftentimes some of their communities were. you see them swinging and look at african american vote and swing over donald trump in spades. ashley: african americans coming into the trump-appointed campaign, jobs and justice. stu. stuart: take t ashley, thank you. now this. speaker johnson wants the supreme court to step in on trump's verdicts. roll it. >> i haven't had conversations with the justices and i just know their character and personality and know what they've said in the past and they're deeply concerned as we are about maintaining our system of justice and i think they're concerned about using courtrooms for politics and political retribution and we are. we all should be and every american and that's what i was referring to and in heart of hearts they're concerned like we

are. stuart: roger severiano is a former doj trial attorney and joins me now. can the supreme court step in? >> yes, maybe not right now because there's an appeal process. if he's actually convicted and sent to jail, he was already convicted and if sent to jail, there's a petition called maybe yous that could go to -- and if the federal president could face jail time. it's shocking that america reached this point and trying to convict the political opponents with a sign at the ballot box and president trump was right after the real conviction and real decision and the real verdict is going to be on november 5. stuart: a deliberate political go at donald trump politically through the courts. >> oh, absolutely. they invented a crime and the legal errors are just huge and the politicized judge and

politicized prosecutors and the pool inventing a new crime of federal campaign violation and based on falsification of state records and so confusing and the judge said you don't have to be unanimous in the verdict and four juries for one and four for another and four for another and that's an adventure. that's not how legal systems run and this was politics from the beginning and about getting trump and showing the man and i'll show you the crime and like the communist days all over again and it happened here in the united states unfortunately. stuart: you said mitt romney accused alvin bragg of committed "political malpractice" by pursuing the trump case. seems like they're supporting trump after these convictions. >> this is a politically charged

election interference and trying to take the vote and decide at the ballot box and decide in the court of law and see an up tick there too and there's a whole lot of concern over african americans in the legal system and president trump said hey, look, i can relate. i was railroaded too and this happens -- it can happen to the president and can happen to you. happens in the country and we cannot have a weaponnized justice system. that's one of the key campaign propses of president trump, de-weaponnize the justice system. stuart: listen to this, former fbi director james comey said putting trump in jail is doable. roll tape. >> do you agree it would be difficult for law enforcement institutes to put him in jail? >> no, a double wide out near the fence and grass and he'd eat there and shower and exercise there and be away as don ya perry said from general

population but it's obviously doable. stuart: what are the chances that donald trump will actually wind up in a jail cell? >> i hope it's low, but the radical left shows there's no bottom to how creative they can be. the fact it's a possibility of shocking and look what's happened. it is as if the dog finally caught up to the bumper and caught it and left doesn't know what to co. they wanted to convict president trump and 34 felfelonies and most get jail te for felonies and maybe house arrest and maybe ankle bracelet and who knows what they'll do and had show trial and now they're afraid of the consequences because they realize they made a tragic mistake here. the american people are rallying to president trump and the radical left got what they wished for and not realizing maybe should have been more careful what they wished for. stuart: trump is okay with house arrest or even jail. what do you make of that? perhaps he wants it. >> yeah, a member of congress introduced and talking about introducing a bill to take away

secret service protection and increase the odds if jail time and something bad happens and that's extreme. the secret service is there to protect the president no matter the circ*mstances and again, the fact we're discussing this shows this is politics pure and pure. they distracted from the campaign trail and sitting for weeks in the trial and had a gag order a weaponization of the justice system. we're better than this as a country and unfortunately we're now joining the ranks of other countries that are called banana republics and it's a shameful day in our history and supreme court will hopefully come to rectify this but if not in teenager the american people will november 5. stuart: roger severiano, thank you for joining us. see you again i do hope. prosecutors removed the gag order on president trump somewhere what do they want him to stop talking about? lauren: about law enforcement or the fbi. this is the classified documents case. remember when trump said recently that the biden administration authorized killing him.

authorized the use of deadly force when the fbi in 2022 executed search warrant on mar-a-lago. well, prosecutors say those comments were deceptive and inflammatory and exposed law enforcement to unacceptable resident and can this case is not currently set to go to trial, but the special council jack smith still wants trump gagged and he's asked for the second time. stuart: why am i not surprise. thank you, lauren. coming up, huge migrants from turkey coming over the southern boarder and using social media to coordinate their crossings. we'll explain how that works. congressman adam schiff says biden and the democrats need to go after trump for being a convicted felon. do voters care? we'll ask joe concha next. ♪

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[thunder rumbles] ♪ ♪ ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ [thunder rumbles] ♪ ♪ stuart: affectedded stocks have since reopened and take a look at some of them and berkshire hathaway, that's not the new

price. that's where they were halted, i think. so it's not updated. start with arm, arm. -a-r-m. lauren: chip producer and they aim to capture half of the windows and thank the aipc for that and say 100 billion arm twices ready for ai by the end of next year. stuart: no wonder it's up. krispy kreme. lauren: they're audiotape also today by 3.5% and they say time to buy. upgrade to overweight and view krispy kreme as a big company and a widely admired brand. stuart: thank you, lauren. donald trump says he's ready to declassify documents related to major historical events if releareifreelected. why, ashley? charles: kennedy assassination and 9/11 and jeffrey epstein

hatchet he told rachel campos-duffy on "fox & friends" weekend. >> some people think one way to build trust is declassify things and that everyone is talking about it and you talked earlier about not wanting to be a conspiracy theorist. if you were president, would you declassify, answer yes or no to this, declassify the 9/11 files? >> yeah. >> declassify the jfk files? >> yeah. i did a lot of it. >> declassify the epstein files? >> yeah, yeah i would. what about alien encounters. where are the aliens right now? that's what i want to me. stuart: me too. congressman adam schiff thinks they should go after the biden campaign for the hunter biden. >> they're leaning forward and his competitor is a convicted felon and you can only imagine

if the situation was reversed and they'd be going after joe biden with a vengeance. stuart: the gentleman on the right hand side is joe concha and democrats want biden to make trump's conviction a top election issue. do voters care, joe? >> to answer yuri colins question, i think deputies are panicking and not being able to beat trump at ballot box and 81-year-old version of joe biden that's clearly lost the fast ball if he even had a knuckle ball at any point. the solution was to go in 2024. but this convicted felon label will have as much impact as calling trump an impeached president in other words not

much at all if any because if we're talking about not a felony where it's assault and battery or kidnapping or murder but falsifying a business record eight years ago and does anyone really think this so called crime will change any votes in places like pennsylvania, michigan, wisconsin, nevada, arizona, georgia? voters are far more concerned about inflation and crime in their neighborhoods and illegal immigration and allowing hundreds of terrific rihannas in the country and according to the fb and i recollects terrorist watch list and world increasingly unstable overseas and talking about this earlier and look at numbers in the span of three days and trump campaign raised more than 200 million and put that in context and biden campaign raised 50 million total over the past month so when you look at one-third of the 200 malcolming from donors that have never donated to the trump campaign before. whether it be 2016 or 2020, trump's bringing in voters and never voted in any presidential elections before and that may

help decide this election. stuart: take a look at this opinion piece in the new york times "hunter biden should take a plea quickly". wait a minute, has biden lost the support of the new york times? >> well, at least one opinion writer anyway. i think sack fiesing hunter here, stu, with a slap on the wrist with a little jail time and plea deal and accomplishes what the biden campaign needs and hunter biden trial out through the news cycle as quickly as possible and longer this drags on and more it eats into the time about the media discussing trump's trial and tribulations and the president's son is currently a liability and has been for some time and we all know that and democrats want us to check out that going through the plea deal in and out of court as quickly as possible. stuart: get it out as quickly as possible. donald trump just joined tiktok, the app he once tried to ban when president. he's gained 3.5 million

followers on tiktok. the biden campaign is 340,000. what do you make of trump joining tiktok? >> yeah, trump wanted to during his presidency and may do that very well when he becomes president again winning in november. trump has been making significant inroads in november compared to 2020 and the best way to build that momentum is building the app that more young voters get to use the news and spend time on and that's tiktok. trump just is doing what joe biden has been doing for quite some time and you look at numbers and it's incredit card and will trump joined other the weekend and now has more than 10 times the number as joe biden's campaign with that ridiculous avatar they have there. so i just find that amazing. so if donald trump wants to reach voters that don't watch available noose.

stuart: if you wen to the big night night in new jersey this weekend because the report, reception that trump got was simply astonishing. >> 16,000 people at home of my new york devils and i would have liked to have gone and witness that and talk to some people in the crowd but unfortunately i did have to work and did the big weekend show on saturday and by the time i got out, just wasn't going to happen at my age at this point. stuart: remarkable performance in terms of ovation he received and stood out. support of fight fans, it's that are sure. joe concha see you again real soon. thank you. >> see you, stu. stuart: some democrats are trying to biden-proof their 2024 campaigns. ashley, what is biden proofing? >> well, putting as much distance between themselves and joe biden as possible.

ashley: according to axios report the poll numbers are leading democrat candidates to focus on anything but biden. one candidate told the publication there's "always an element where you run in your own race but now it's even more pronounced given the president's weakness". ouch. other democrats in tight congressional races maintaining their independence from biden without publicly rejected him but other swing district dims breaking from biden on policy and pushing for stricter border security. probably a good idea. stuart: trump campaign raised more thanasis than $200 million and sounds like a winning issue for donald trump. we'll ask gop megadonor hall lamborghini lambert how he thinks about this. overpaying a contract by billions and a group of senators demand the pentagon crack down on the taxpayer waste. we have a full report from

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stuart: two hours and ten minutes into the trading session and nasdaq composite up 70 and new york stock exchange says the technical issue that has affected many stocks earlier has been resolved. the affected stocks are now in the process of reopening. group of senators accuse the pentagon of wasting billions of taxpayer dollars by overpaying defense contractors and edward lawrence is at the white house. what do the senators want? reporter: they want information from the pentagon alaska the contracts they give out and charges that companies are charging the federal government and now in this letter there was

a defense department inspector that shows they overcharged 16 million with profit margins over 4,451% and gnat torr elizabeth warren, a coauthor on the letter posted "i'm working to tackle price gouging all over the economy including when our military contractors use it to rip off taxpayers". this is from president biden that companies are to blame for inflation. >> instead of $35 for overdraft, it's $3 now.

>> it's clear that biden has never been a fan of the truth and he continues to allege that foreigner president trump is lying and saw low unemployment across the board and today what we see is families across the country black, white, all races seeing high inpolice station and eat into their savings. reporter: republicans saying these are two different issues and inflation caused by president joe biden and companies trying to achieve the government and related to pentagon contracts the toilet seats. reporter: the lawn mower just passed when i came on. stuart: they're really noisy. reporter: sprinklers right at my feet.

stuart: edward, you did well. see you again soon. stuart: trump says he has a plan to end the war in ukraine and elected president and ashley, what is the plan? >> i get along with putin and zelensky. i would get them in a room and get it ended. get it ended and i have an exact plan but i can't tell you about that. let me tell you exactly. ashley: trump told the show he would fire "woke senior military generals". he promise that had as well. stu. stuart: pete hegseth really like that had one too.

ashley: oh, yes. stuart: there's a huge influx of turkish migrants coming over our southern border and they're using social media to help them cross and take me through. this is fantastic stuff. how does it work? >> lauren: putting out packaging that include airport pick up, hotel and taxi services and advertising the san diego border, that port of entry because california is a sanctuary state. one smuggler posting they're getting 1,000 people across per day. the numbers for the first six months for this fiscal year topped 74 0* 0 and it was over 15,000 in all of 2023 and over 15,000 in all of 2022. we should surpass that this fiscal year also. guarantee pass and mexico with the cancun return flight ticket, cancun entry pick up by taxi and

settlement in a hotel, delivery to tijuana border, don't delay your dreams, we book your flight from istanbul to cancun. stuart: i need more on this tomorrow. that's outrageous. thank you, lauren. show me the dow 30, please. there's a pre-pon preponderancef sellers and not in the green. dow down 38,428 and trump campaign on fundraising blitz and raked in a lot of money since the conviction last week and we'll bring you the latest numbers right after this. ♪ experian helped me save over $1,400 a year on car insurance. though prices keep going up, experian is here to help you save on personal loans, credit cards, or car insurance.

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craig here pays too much for verizon wireless. so he sublet half his real estate office... [ bird squawks loudly ] to a pet shop. meg's moving company uses t-mobile. so she scaled down her fleet to save money. and don's paying so much for at&t, he's been waiting to update his equipment! there's a smarter way to save. comcast business mobile. you could save up to 70% on your wireless bill. so you don't have to compromise. powering smarter savings. powering possibilities. stuart: trip's guilty conviction appears to be helping his campaign bring in serious cash. mmadison alworth joins me. give me the numbers, please. >> ab chutely, stuart. trump alone seen a nine figure surge in campaigns and hughesing that conviction as rallying cry for base and by friday night

just one day after the conviction, the trump campaign announced $53 million have been raised saying it was nearly double the biggest day ever recorded for the trump campaign and saying around 30% of those donors were first time contributors to the platform. those close to the former president tell fox that the donations continued to pour in throughout the entire weekend. >> well over $70 million. this is $21 donations and $43 donations and small dollar donations and large dollar donations to it and you're over $200 million and they want to support a guy that they just believe is getting bamboozled by a system. >> biden campaign said they've been able to successfully fundraise for the campaign and telling msnbc they've had their most successful stretch of fundraising since the jury handed down their decision and

now it's yet to be seen if trump will be able to close the gap in fundraising with the big push and end of april, biden campaign still enjoyed 84 million to $49 million cash on hand advantage. the campaigning, stuart, it doesn't stop in connecticut with a high priced fundraiser and president trump is headed to southern california later this week to pro pair for fundraisers there. stuart: all right, i want to bring in hall lambert now. hall, thanks for coming back on the show. i believe you gave millions to desantis back in the day. do you now bactrim p? >> i'm 100% behind trump and, you know, stuart, you can feel the momentum accelerating for trump in the trial. it's not anything i've seen before except maybe obama in '08. this is where that's headed and that kind of momentum for tram and talking about fundraiser in

southern california and i'm supposed to go to that and it's sold out. i'm on the wait list and president trump if you see this, i need to get off the wait list and you never see that. stuart: they put you on the wait list. i don't know how many millions you've given desantis or anyboy else and you're on a wait list? i can't understand that. >> they're maxed out and have the number of people there and it's interesting and the minimum to walk in the door in the southern california fundraiser is $5,000 a person. you don't normally see that at that level. you have availability. it's the momentum that's there and you can see the nerve nows and the trial is political and there's evidence and spouted off the evidence and you know, he's shrunk away and stephanopoulos end it had and for them to say we're raising money as well and that makes it political and they're raising money off of

this and the whole thing is political and everybody sees it and i was at an event this weekend and nonpolitical friend deal and people coming up and saying that never talk politics wanting tafanely tuck about this and momentum is there for trump right now. stuart: momentum really kicked off when the guilty verdictses came down. that's given it this impeak spltous and started then -- impetus. it didn't start then but picked up steam. >> 100%. that's $70 million in small dollars and millions in large donations and that's amazing and amazing numbers and you're talking small dollars and talking $700,000 to a million individual donors giving money to president trump after the verdict in just a few days and that's going to keep going on. if you look at what the trial was about, it really is more than trump and people realize this is damaging to america. we're the rule of law country and people view this as

political mainly because the da has been in the business in the last few years of reducing felonies and 60% of felony charges cut to misdemeanors and went the other direction on this and took a misdemeanor and made it a felony. if that's not political, what is is? stuart: i have 30 seconds left and would you like to give any advice for mr. trump to pick a vice president? >> he's going to pick his person, but i've said publicly since about march, i think governor abbott of texas would be a great choice. i think he's got the -- he knows border security and good on that and energy business and eighth largest economy in the world and i think governor abbott would be an excellent choice and also i think it's an interesting choice for president trump as well. either of those two. stuart: if he's watching you've got to be off the wait list to get into the southern california fundraiser. you've got to be there. hall lambert, thank you for joining us. see you real soon. >> thank you. stuart: gop megadonor and help

plan to bankroll a massive new super-pack for donald trump and she gave $90 million last time around and how much this time? lauren: being reported she'll give more than $90 million. so super pack she'll be bankroll asking called preserve america. it's being run by dave carney and in 2020 run by chris lacevida and heavyweights when it comes to fundraising. miriam adelson is said to be bankrolling and donating more than $90 million she gave with sheldon, her late husband. she was born in israel and she's watching these court cases and she saw the guilty verdict and big money is coming in because conservative donors don't like what they're seeing in this country and trump is now rapidly closing the fundraising gap with joe biden. stuart: got t thank you, lauren. time for the monday trivia question. here it is: what percentage of the brain is water? does that depend on which brain

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stuart: where did they come up with the questions, what proportion of the brain what percentage is water, okay, you are laughing, you are first. >> there is a whole lot more water than. >> 65%, number two, he got it right, can you believe that the average human brain weighs 3 pounds and 20% of the oxygen and blood in your body and 75%, who knew. >> lauren, actually we will see you all again tomorrow i do hope and i got a county down to "coast to coast". five, four, three, it starts n now. thank you for the brilliant lead, this gam

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