Payne issues WARNING amid FALLING oil prices

[00:00:00] Speaker 1: We're back in front of our live studio audience to help celebrate America's 250th birthday. A record number of Americans are expected to hit the road this holiday weekend just as California drivers are paying more at the pump. [00:00:13] Speaker 2: All right, the state's gas tax is up 2.2% a gallon, adding to the highest gas tax in the country. Interior Secretary Doug Burgum has some advice for you. [00:00:23] Speaker 3: So if anybody's driving for the 4th of July a holiday, here's a tip. If you want to save over 50 cents on a gallon of gas, fill up in a red state. The average price in red states is 53 cents lower than it is in blue states. The blue states, and I say blue states, those are states controlled by state legislatures that have adopted policies of less energy, energy subtraction as opposed to energy addition. President Trump, his energy policy laying the foundation for peace in the Middle East. [00:00:54] Speaker 4: And let's bring in Charles Payne. He's the host of Making Money. And Charles, the president has said his goal is $2.50. America, $2.50. His goal for gas is $2.50. [00:01:03] Speaker 5: We could get close to that before the end of the year. I mean, look how quickly crude has come down. At one point we spiked to $1.21. You know, we came down very quickly. It was always, even with the worst headlines, right around early March, late April, just something, late March, early April, something turned. And, you know, the market's been convinced that the conflict would be short-lived. And, you know, we're coming down quickly. We're already at 70. I think we'll be at 62, 60 by the end of the year on crude. And that's going to translate into much cheaper gasoline. [00:01:32] Speaker 2: We've got 45 ships through this trade yesterday. So the gases and oil are going in the right direction, even though you can't trust Iran. And we might end up in a conflict. But the big picture, you say, is look at the market. There's something going on here. [00:01:44] Speaker 5: Well, it's 250 years. We just closed out the second quarter. The Nasdaq was up 21%. The S&P was up 16%. You talk about American exceptionalism on display. This is amazing, absolutely amazing, the amount of money that's being made right now. The companies that have been resurrected. Think about Micron, a company born in 1979 in Idaho. Someone in Idaho said, I want to do a semiconductor company. They barely survived. Ronald Reagan kept them in business, right? Because he pushed back against the Japanese. And now the hottest company in the entire world. Because of storage, right? Because of memory. But guess what's moving now? The robots. Everyone in this audience will have a robot within the next five to 10 years. I'm telling you right now. You mean I have a Rumba. Is there something better than a Rumba? You've got to get rid of the Rumba because the Chinese bought it, okay? Here's the bottom line. These stocks anticipate greatness. And it's starting to happen right now. These robot stocks are going through the roof already. They're going to be in everyone's home. The humanoid robots, the other robots, quantum. I talked to you about this two years ago, through the roof. Memory, phenomenal. So, listen, this is just... Tesla? Tesla is going to run with the robot stocks. They have this optimist, which ultimately they may be taken over by SpaceX. [00:02:56] Speaker 1: But, Charles, there is an entire movement that want to stifle creativity. And the people that are making money within this stock market, they want to take that wealth away and give it to other people. Right, right. On this 250th, what's your message to those people? [00:03:11] Speaker 5: Well, my message is that take a quick look at Germany. If you look at the top 10 women stock markets in the world, only two are in Europe. Only two. Imagine that. Only two. I think it's France and the UK. And they're sliding off. They're sliding off. Why? Because of those policies, that all they do is punish success. All they do is harm success, tax it, intimidate it. In our country, what I love is since 2020, the bottom 50% of Americans had 150 billion in the market. Fast forward five years later, we're at 600 billion. This is the bottom... By the way, it's still only 1% of the market. This is how you want to... If you talk about shared prosperity, we talk about politicians all the time. Shared prosperity isn't taking it from Brian and giving it to someone else. Shared prosperity is we all benefit from the backdrop of America where all this greatness is being created. Let our audience benefit from you. [00:03:59] Speaker 2: Let's go to Edie. Edie, you have a question for the great Charles Payne, ladies and gentlemen? [00:04:04] Speaker 6: Yes. I want to know, because I heard you say gas prices will go down maybe by the end of the year, but when will they really go down? [00:04:12] Speaker 5: They have really started going down already for percentage-wise. Look at where we were a few weeks ago. Percentage-wise, this is a huge drop percentage-wise. Now, it feels like they go down slower than they go up. Remember, these... Only 30% of them are owned by large, you know, Chevron. Over 60%, 65% are owned by ma-paw dealers. So they buy a bunch of gasoline at $75 a barrel, or let's say $80 a barrel. And you look at the news, well, golly, now it's down to 70. It went down so much. Well, they bought it already. This is a gas that they're selling you. They're not going to... You know, these are ma-paw people struggling. So give them a chance to sell the gas that they paid for already, get this cheaper gas in, and pass on the savings to you. [00:04:51] Speaker 2: Rise like a rocket, falls like a feather. How about Kevin? [00:04:55] Speaker 4: Kevin, where is Kevin? Kevin, what is your question? [00:04:58] Speaker ?: Yo! [00:04:59] Speaker 7: How are you doing, Charles? Wait for you, Cameron. Long time. I've watched you a lot on TV. What's your opinion? Has the tech stocks reached their climax, or are they still further? And are financials the next way to go? [00:05:17] Speaker 5: Financials look phenomenal, particularly these bankers, because we've already topped the largest number, the amount of money raised in IPOs, and we still have six months to go. So the investment banking revenues are going to be through the roof. So if you have the JP Morgan's and the Goldman's of the world, you're solid. You know, we spend so much time in financial media, and I think it's a damn shame to worry about the top. When is it over? When is it over? When is it over? Instead of, are you participating? Are you in this? Because this window of opportunity is the most unique, powerful window of opportunity. Anyone in this audience, there'll never be a time like the next five years. The past five and the next five. There'll never be a time like this. So I think there's a lot of runway. You know, I'm looking at these companies. They report their earnings, and they're saying, hey, we can give guidance out to 2029, 2030. Every single day, Wall Street is ratcheting up their numbers. So I don't think we're anywhere near done right now. [00:06:07] Speaker 2: All right. That's great news. Great Charles Payne. Yep. [00:06:11] Speaker 4: Be sure to catch Making Money weekdays at 2 p.m. Eastern time over on Fox Business. Thank you, Charles. [00:06:17] Speaker 6: Thank you. Thanks. Be sure to like and subscribe for all the Fox News latest on YouTube, and catch full shows streaming now on Fox One.