tv Varney Company FOX Business October 19, 2021 9:00am-12:00pm EDT
strives to do something new for good text messages. this is a great thing all around. maria: we wanted to end with humor in the face of what has become serious issues for the country. thank you for being with me. the market is up despite those horrible housing numbers. stuart: good morning, bernie sanders is not going to like this. aoc, senator warren, the progressive caucus, when they see these profit reports they will pound the socialist table. america's corporations reporting strong results. so far 83%, have done better than the expectations of profit and revenue. they have not undermined the performance of big business.
free-market actions just a solid gain for stocks tuesday morning. the nasdaq up 38 but there is green on the left-hand side of the screen. the first crypto futures ets starts up. and investors like it. 62-numfour is the current price. in politics, the president struggling to bring his party together on that spending plan, he meets the progressives in the white house at 2:00 pm and the moderate in the white house at 4:30 p.m.. they pass $5 trillion of spending. they get a recession. moderate joe manchin held a
meeting with socialist bernie sanders, they remain miles apart on spending, they are still talking. they allow mix and match booster shots, won't recommends one over the other. they will mix them are in a from pfizer and moderna with j and j's product with his confusion who should get what and when. the head coach of washington state football has been fired, he would not take the vaccine. four of his coaching staff will leave with him. there is no testing option in washington state. it is take it or leave. and espn reporter left the network, allison williams, trying to get pregnant, doctor advised against the jab, esb in the night or an exemption, williams is out. we are waiting to hear how many tsa staffers will leave over the vaccine mandate, 40% of screeners are not vaccinated, deadline is november 20 second. right before for thanksgiving
and all the holiday travel. october 19th, 2021, "varney and company" is about to begin. ♪♪ stuart: the empire state building in new york city and washington, dc. there will be some heavy-duty negotiating going on in washington dc. the president will meet with progressives in the early afternoon and the moderate later in the afternoon. good morning. i am watching now. joe manchin met bernie sanders, they traded jabs over the weekend. >> sanders put his arm around manchin for the cameras, the
most famous progressives in the most conservative democrat trying to agree. >> we are talking. >> you will have a resolution by the end of the week? >> we are talking. stuart: bernie sanders is incapable of smiling. lauren: he wants to cement his legacy, he will smile if he gets it. they are $2 trillion apart at least. sanders and the biden agenda want to reshape our relationship with government. manchin is trying to hold the line here. can they get human infrastructure, heart infrastructure done by the end of the month? don't think so. stuart: it is unlikely. lauren: senator kennedy said watching democratic infighting is like watching a hug on ice and watching it play out. stuart: from louisiana, the best 1-liners out there. i would put him on the show.
bring in matt schlapp. we need a conservative and matt schlapp is a conservative. is a time crunch, days to get the spending deal. the president and the progressives against the moderates? who do you think blinks? >> great question but two things going on. they have to figure out how to fund the government and this outrageous program of socialism that pelosi and biden and schumer are trying to push through. you brought up pigs already. i hope there is not enough trees around the door to get the big in the room. we can leave the profligate spending, the green new deal on the sidelines. president biden can get a deal in the next ten minutes. stuart: that is not going to happen, is it? >> if everybody is trying to follow the money with joe mansion, manchin he said he
would do $1.5 trillion, he is not fighting over money. president biden is fighting over the economic impact on west virginia if you cancel fossil fuels in america and get the green new deal. that is what the fight is about this policy under the money. that is where the action is. stuart: if the progressives don't get the green stuff they will be apoplectic. that is one of their biggest thing. if manchin holdout, no green money, you are not going to get an agreement. >> people think joe manchin is running the democratic party but bernie sanders, elizabeth warren, the socialist in the house are truly running the party and all the outside money is pushing for these socialist policies.
they are saying we can block a deal but in the end that is all they can do. they don't run the party, this party has embraced socialism and why the republicans are going to clean up next year no matter what happens on this deal. stuart: i am dying to hear them when they come out of these white house meetings. how the market is going to make it. mister super bowl, is there anything on your radar that would upset your bullish outlook? >> if it looks like $3.5 trillion get past i think you saw earlier in the year when the 10 year was up in the 175 range looking like it was go to 2% what the key change in that was that a lot of spending
was nowhere near as popular, joe manchin is put out as the bigger head slowing us down at half a dozen democrat senators uncomfortable the level of spending and other aspects of this bill so this $3.5 trillion, over half $1 trillion a year, largest expansion of government in history of this country, that comfortable our economy permanently. stuart: if that is the red flag, what about $2 trillion, is that another red flag for wall street. >> it depends. is it the same bill and it will last 3 years instead of 5. stuart: shorten the time, cut the price tag a how would wall street react to us? >> i can't imagine them reacting positively. you would expect interest rates to pick up steam but the bond
market isn't buying it. i see this agenda almost a dead man walking which is why as way to stabilize somewhat, markets are focused more on earnings we are having this quarter and rate stabilizing, equity hit all-time highs. stuart: the market will get a strong pointer when these meetings are over today and they emerge with either absolutely no deal or some deal. thanks for joining us, appreciate you being here and have you back soon. bitcoin 62,$650. this is all about the first bitcoin etf futures, that is the big deal. so with this thing, can you buy and sell bitcoin cryptos like a
stock? >> it eliminates the need, it can be confusing for someone setting up the crypto wallet on an exchange so now investors can buy bitcoin futures through the etf trading under the ticker be i see no. we will see other investment funds flowing. the bigger game changer is bitcoin etf. the etf rates are up. stuart: that would define bitcoin as a security. it would change the definition of it at the respectability of it and the rules governing it. lauren: this is regulated. and another account transferred into take risk in their portfolio and get safer exposure. stuart: as maria hitched to me she was talking dreadful
housing numbers. what are those housing numbers. lauren: let's talk about the permit number first, future groundbreaking, 7.7% to a seasonally adjusted rate annually, they are taking the pipeline moving despite shortages. shortages of materials. the other part of this report is actual groundbreaking, they also fell 1.6%. stuart: i had to convert a swimming pool from chlorine to salt because couldn't get the chlorine. lauren: salt is much nicer. a run on chlorine over the summer. stuart: we are up 120 on the dow, 34 for the nasdaq. is the president taking the threat from china seriously, look at what the white house
had to say about when asked about their news. >> our consistent with our approach with china and stiff competition. we don't want it to the year into conflict and that is what we convey privately. stuart: we heard the missile described as a sputnik moment showing china is winning the weapons race. age offers protection when it comes to covid according to my next guest. and infectious disease expert says it is better to be an unvaccinated 8-year-old than a fully vaccinated 80-year-old. doctor matt mccarthy is here next. ♪♪
stuart: 14 minutes to "the opening bell". i see green for the dow, the s&p and nasdaq. the vaccine makers, the fda will meet this week to authorize the jab for children age 5 to 11. doctor, sort this out for me. it is better to be an unvaccinated 8-year-old than a fully vaccinated 80-year-old. what is the implication for vaccinating children? >> it is one of these things we don't talk about but most respiratory viruses tend to have a u-shaped curve where there's a lot of cases in people who are very old and a lot of cases in people who are very young and not much in between. cove it is totally different.
what we are seeing is 97% to 98% of hospitalizations are in people over the age of 18 because of the adaptive immune system for people who are older tends to go haywire with covid whereas with children they have an innate immune system providing protection. we see this with colin powell. he was over 80 years old, fully vaccinated and still had complications of covid. that's not something we are seeing with kids and it will be important later this week when we talk about vaccinating children. it's not the same calculus, not the same risk profile and this is something to focus on. if we had 20 children in a classroom 8 years old who are unvaccinated and people who are 80 years old in a nursing home and gave all of them covid the people i would be worried about are the ones in the nursing home even if they are fully vaccinated because of breakthrough infections. this tells us older people need to get boosters and view vaccinating children in a completely different way with a
different risk-benefit profile. watch later the safety and efficacy data. stuart: what do you say to a vaccine mandate for children 5 through 11? >> premature. we know children are not affected in the same way. in california they are talking vaccine mandates for children. this will add stress. this is an unnecessary thing to be talking about when we don't have a sense of the safety data or a good understanding that the innate immune system of children is protecting them. i wouldn't put that out there. i don't think it is helpful especially when cases are dropping throughout the united states and we don't have to put that on the table just yet. that is years away if at all. stuart: cases are dropping sharply, we are down to 83, 84,000 cases a day which sounds like a lot but less than it was a few months ago.
can we see the other side of this delta variant? >> my kids, elementary school, they tested 500 kids for coronavirus? 0. this is in westchester county. this is outstanding news. we are not completely over it but we are going in the right direction and this is a time when we could really be enjoying the fact the cases are going in the right direction. there was a concert i to do go to that i didn't go to because i was concerned about the risk of coronavirus. i am kicking myself now that i didn't go because we may be seeing more when the winter months, but for now things are looking good. the direction is going the way we like. stuart: just out of interest what concert did matt mccarthy miss? >> i did to see the dave matthews band. my friend ben got me tickets. i should have gone but i didn't.
it was a regret. cases are moving in the right direction and we've gotten a nice job of getting the vaccine word out and i should have been there singing along to dave. stuart: next time maybe. we will see you again. this is intriguing, a new report shows how worried employers are about the impact of the vaccine mandates. what percentage of employers think that they will lose employees? >> 9 and 10. comes from a survey last month by the society for human resource management and not only do they fear workers will quit, they lose staff when it is hard to find staff, more expensive to find staff but they worry about let's make our workers who are unvaccinated, for the bill for testing the in order to meet the white house requirements, their waiting anxiously for the white house to actually give us rules.
stuart: there is no african -- off ramp these mandates, the president can't say forget about it we are losing too many people. >> there is the test out option, employers have to foot the bill, if it is effective. stuart: a college football coach fired in the middle of the season because he wouldn't take the vaccine. are we talking a major league star? >> washington state, first major college football coach, four of his assistants were fired for being unvaccinated. he had a religious exemption that was denied and as a result he loses his salary, $3 million a year. stuart: there is no testing option in washington state. that is draconian i would say. a hockey player using a vaccine card. lauren: i'm surprised we haven't heard more about this. he used a fake vaccine card, it
is legal for the nhl and was suspended for 21 games. he loses $1.7 million for that game, don't do that. stuart: high principles and paying the price. a quick check of the markets, 7 minutes to go before we open on wall street and see some green before "the opening bell," 124 points. we will take you to wall street after this. ♪♪
♪ ♪ ♪ ♪ lauren: i see green on the left-hand side of the screen which means we are up in "the opening bell". profits are very strong. the ones that are coming out now have been very strong. are they strong enough to prevent a major downturn for the market this year? >> absolutely. we are very bullish in the fourth quarter as i shared with you. one of the biggest mistakes professionals make is trying to call a top too soon in a raging market. we saw this when the dow was
down 900 points, mike wilson said at the beginning of 20% drop, i had great respect for them but our viewpoint on that same day was the complete opposite and so we think we will see a real melt up in this fourth quarter because ultimately all these folks that have their clients position defensively and calling for this crash is going to be proven wrong in my opinion is a lot of money has to change the cyclical trade. are we overbought? more than likely but we are going higher on the cyclical trade, energy trade and financial between now and year end. next year is the year to worry about a double did drop. stuart: a lot of negotiating going on in the white house, moderates and progressives and the president all trying to figure out how much they are going to spend. supposing they get the full
$3 trillion spending plan on top of the other, a $5 trillion deal, suppose they did that. how would the market take that? >> that will break the back of this inflation problem. you may get a bump but the biggest risk is inflation and when you throw money on top of what we have right now you are going to just make the inflation problem worse. you see the 20% drop because of inflationary pressure next year. if that happens look out. stuart: you could get the spike in energy prices very soon if we get a very cold winter around the world, that can upset the market this year. >> natural gas natural gas and oil, once we hit that, oil in the 100 range, natural gas because of supply constraints in europe.
stuart: i am watching energy price inflation and energy price inflation and so are you but you don't think the big drop comes until next year. we hear you and it is always interesting talking to you. you walk outside in new york this morning and you know the weather is cooling down. the temperature was in the low 40s. didn't like it. it is 9:30 eastern time tuesday morning. the trading day has begun. off they go. right from the start we are up not much but 112, 110 point gain for the dow industrials, the vast majority of the dow 30 are in the green. the s&p on the upside the third of one%. the nasdaq well above 15,000, gain of one third and one%. big tech is doing well, microsoft, new hire, $308 a
share, apple is a, google is up, amazon is down $14 only. we have some earnings reports including johnson & johnson. start there. didn't they benefit from the jab? >> vaccine sales were hit by production hurdle, they kept their outlook for the year, $2.5 billion and raise their profit outlook for the year as well. stuart: procter & gamble is down 2%. lauren: it is higher cost for commodities. shipping is hitting procter & gamble, kept for your target intact, consumers pay a higher price for pampers but will we? can you keep passing along costs and consumer say okay but we change our habits.
stuart: png rules the grocery store. on that shelf space, we will take a. stock is 2.3%. tele dock is one of kathy would's favorite stocks as wells fargo saying nice about them. >> uber, 150,$000 price target. they call that the most scaled company in telehealth. it is a 1-stop shop, forecasting 20% for revenue growth the next 5 years. stuart: it is a strong prediction. walmart, i am intrigued, looking at goldman sachs, they have a conviction buy list. walmart is on it. lauren: they like the investments, to grab market share and boost profits in 2022. adding them to the conviction list, 196.
stuart: that stock has done remarkably well in the past year. lauren: walmart this year, down one.7%. stuart: what do i know? lauren: to pay for workers, keep them safe from covid and all that. they did all this and thought it was going to pay off. stuart: let's turn to ali baba, thinking about making their own ship. lauren: specialized ship for ai, and use across data and cloud centers. why should you care? raising the semi conductor independent. stuart: that is why i raised the issue. what that money to a tiny stock, the chinese government doing what it can to bend down companies like ali baba.
lauren: i don't think they will bend down on their work for having new technology or new semiconductor independence. stuart: you have a point. just a couple weeks ago ali baba was at 140, now it is 172 and rising. the big-name the reports this afternoon is netflix. are we looking for the usual thing, how many new subscribers. lauren: cash flow and profit revenue matters, it is all about the subscriber growth, 6.8 million new users built in the fourth quarter, the holiday quarter. this is netflix strategy of global expansion, 6, and a lot of people saying squid games. can't get into squid game. stuart: i don't like violence
on the screen. stuart: put up united airlines please, they are out this afternoon. lauren: revenue will take hold but they are not back at the 2019 levels. you have the opening of vaccinated travelers coming here. stuart: you've got tsa, unvaccinated workers, can a process them. consistently through the holiday period, airlines don't do well. people don't want to fly. lauren: let's see what talks they could be having. stuart: going to florida for christmas and might drive there. lauren: they rented a minivan. lauren: they -- lauren:
stuart: should be talk about apple? the most talked -- what was the most talked about product in their launch of products yesterday? i thought it would be the x are m y x. lauren: they power the new macbook pros. you are right. a long battery life. you can watch 21 video hours on single coverage. the new launch with this chip shorter shows apple flexing its supply chain muscle. can they really deliver here? a major catalyst for growth with the cheapest matchbook for the new one. anyone the presentation didn't boost stock very much, 143-144 yesterday. lauren: a lot of people will buy for the holidays, the third-generation air pod because $80, nice gift for someone. stuart: every time. look at the dow winners headed by travelers, a report this
morning was followed up 2.7%. the s&p 500 headlined by dominion resources, dover corporation, travelers never stand moderna. nasdaq top winner was intuitive surgical. i don't see big tech on that list. overall the big board, 6 minutes into the trading session, up 93 points, 35,351. the 10 year treasury yield, not much change, one.61%. goal still doing nothing, $17.79 an ounce, bitcoin doing very well. is that an all-time high, 64,475. that is awfully close to its record high doing very well today when it coin futures etf launches, that is helping bitcoin. >> it looks like the bit coin futures exchange is traded, it is up 2%. stuart: oil very interested in that, i'm intrigued by energy
price inflation, oil nearly $82 a barrel today. natural gas was around 6, dropped below $5. that suggests a little less pressure on your home heating bill this year. the average price per gallon of gas $3.34 just in case your wondering, the most expensive gas in the united states is california at $4.51 for regular gasoline. look at the cover of today's new york post, president biden's secret flights, the administration flying underage migrants into new york under cover of darkness. why the secrecy? china, a new law that would penalize parents for their kids bad behavior. we have that story. the supply crisis hits the cafeteria with shortages of everything from chicken to lunch trays. jeff flock has the report from philadelphia.
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christensen a on the list of -- kristen sinema on the list of moderates. the white house has good air-conditioning and i don't see any problems with cold air rushing in. they are the ones carrying the freight right now to tailor this bill to something that might make a little more economic sense. we don't need a little more. manchin basically stopped the clean electricity performance which would have knocked out natural gas and coal from electric utilities. he stopped that. he is from west virginia. that is $150 billion. that is dead. housing subsidies in trouble and you want to hear some numbers? total subsidies, the housing market is pretty hot. $300 billion, $90 billion of rental assistance, rental assistance were all the money we have given them has not been used.
no big deal in people vacating their apartments. $80 billion in public housing reconstruction, that is the green new deal. $80 billion through the public housing system. $37 billion for the national housing trust and another $10 billion, this tells me most, 25,$000 goes, subsidy, assistance, it is a grant, 25,$000 with home buyers provided that you are a minority group. that one really - stuart: this is the first i heard about this. 25,$000, you get a check if you are a minority to put towards your first house, anybody non-minority doesn't get it. that cannot be. this is america.
>> all this crazy woke stuff, always crazy racial equity, very divisive stuff. it is not american but is it is in there. there are other provisions. we talked about it down through the month but the other one was the farm loans, emergency farm loans only to selected minority groups. non-minority farmers wouldn't get it and the other stuff that will hurt this is the biggest split. manchin wants mean sexing which is important and workfare put into these entitlements and the entitlement expansions. this is child assistance, child
credit, the biggest argument between left-wing progressives and manchin, they don't want any part of that and don't want work requirements. i invite your attention to casey mulligan's wall street journal editorial. october 30 first is coming but i don't think the democrats will trick or treat. i think they will lie down and circular shooting gallery. my take is save america, kill the bill. stuart: you are on the air at 4:00 this afternoon. your in a unique position to look at those politicians emerging from the white house and see what they are saying about these intense negotiations. thanks for being with us this morning. the latest victim of the supply chain crisis, school cafeterias, shortages and delays from the food to the to the forks they use. jeff flock joins us. what shortages, how are they
getting around it? >> reporter: where a hair not as they get ready at ridley high school in pennsylvania. i will ask the person who runs the food for 5000 plus kids, what are you out of? >> we are out of whole-grain chicken, paper products, vegetables difficult to source at this time. >> reporter: we are in the teachers lounge with stockpiles things you can get right now because you can get something your jumping on. >> stockpiling it right up, doing what we can to make sure there's no outages. >> reporter: not just food but trays you serve them on, you can't just use regular paper plates. if you give a paper plate with 6-year-old. >> it is good. couple it on to the ground and we have a catastrophe.
>> reporter: you actually went to a location but to get these peaches q, you can't tell me where? >> i'm not sharing that information. that is confidential. i need to make sure we have for our students -- >> reporter: it not so funny in a lot of ways. it is a struggle, not enough drivers for trucks, not enough stuff. they are hungry every day. >> every day they come in hungry and provide nutritious meals no matter what it takes. >> cannot reveal the peach connection. stuart: you stumped me. watch out, sports fans, the big climate conference that starts
next month the world will be sticking america with a bill for trillions of dollars, the administration's next big crisis and that is my take coming up at the top of the 10:00 hour. ♪♪ deposit, plan and pay with easy tools from chase. simplicity feels good. chase. make more of what's yours. (sfx: video game vehicle noises, horns beeping,) (engines revving, cars hitting one another.) (sfx: continued vehicle calamity.) just think, he'll be driving for real soon.
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stuart: the dow is up 78, nasdaq up 68. the first bitcoin future zetia pup strong, it is up $41 per share, that is helping bitcoin which earlier was at 64,000, a little shy of its all-time high, it is 63, within striking distance of a new high for bitcoin. the sec released their report on the game stop trading saga, turning stock trading into a game to increase trades from retail investors. andrew left's from was caught up in the redit raising if i could put it that way. this report, is it a condemnation of what happened with game stop? >> i don't think it is the proper representation. i think the reports of
something like mass sentiment of the business for game stop, it wasn't that. it became a frenzy, trading phenomenon and at the end of the day people want to make money. it is not going to change. stuart: it is bad, would you say that? >> it is not bad. people understand -- what i call it is tokenisation of assets. it is always all coins. game stop goes 30-190. it seems to be make-believe these days anyway. stuart: i see where you are coming from and agree with you. marketa is a credit card company for coin base. i know you like it. make your case. >> bitcoin sit 63,000, what can you do with bitcoin? can you spent a save it? a lot of people -- the back end credit card company for coin base.
mainly growth will be from coin base. if people want to take this bitcoin money and translate it to dinner or shopping it will be through marketday. they have their most sophisticated api for handling real-time crypto currency. on visa and mastercard platform and if you own part of it but not own bitcoin. stuart: i go through marketa. good idea. stock is up 8%. you did something. thanks for joining us, see you again soon. the lead on this program charlie hurt, brian kilmeade, sandra smith and the attorney general of arizona, the 10:00 hour of varney is next. ♪♪ f you and your family first. i promise to serve, not sell.
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bitcoin dog very we well today. proshares, first bitcoin etf. 40 bucks a share. the price of oil, last time we checked, $82 a barrel. 10-year treasury, last time we checked, 1.60. now 1.61. that is the financial markets. now this. watch out at the big climate conference next month america will be faced with a demand for money. "wall street journal" reports that climate envoy john kerry held a meeting with representatives of poor country. the poor presented the rich with a demand, $750 billion, every year. that is to help them quit fossil fuels. the journal says kerry was silent when the demand was made. >> 750 billion. the biden team is walking into another crisis. no way voters would approve of us sending trillions overseas
for this. he only has 13 days to get the 3.5 trillion new deal, if he doesn't get it the american greens will be mad as hell and theories of the world will doubt our green commitment. just as the conference begins, there is energy crisis. there are not enoughfossil fuels and renewables will not fill the gap. many of those are self-inflicted wounds. they make biden look weak and edge competent. afghanistan, defund the police, closing pipelines, it's a long list when the administration has to keep a lid on crease sees they have created. on climate, they better pray for some global warming, when it gets cold, the green agenda goes out the window. biden looks out of touch with reality. second hour of "varney" coming up for you. ♪.
stuart: scott shellady joined me now. he changed his outfit, back to the white cow jacket and grayish bow tie. i rather like the red and fold last week. >> next time. stuart: pink shirt. we like it. the administration, i think they're facing a climate crisis. both in dealing with a lack of fossil fuels and the so-called crisis of the climate anyway. what say you? >> well, you're right, stuart, i said this on your show a couple weeks ago. they need to, this move to renewables needs to be an evolution, not a revolution, right? we can't force that upon everybody too quickly. we're forcing it upon ourselves at the expense of our own fossil fuel industry. we're throwing them under the bus. to have the rest of the world look at us to take care of them, almost like you're own an airplane, you hit turbulents if the masks come down, put yours
on first so you can help others. we need to help ourselves first so we can help other, right? the problem is this isn't working in the short term and you will be shocked to hear we'll burn 10% more coal than we did last year. we're expected to burn another further 10% more next year than we did this year. coal is back because of the energy problems we put ourselves into by cutting off pipelines and the like. so it is interesting to see, say the price of coal was 45 bucks per metric ton last year at this time. stuart, it is over 250 today. and we'll still use 10% more. what does that tell you about coal? these energy policies are failures. abject failures to try to move people over to renewables too soon. it is an evolution, not a revolution and they expect us to be servants and subjects, not citizens and do what they say. stuart: here is another crisis, i'm going to call it the shipping crisis. it is so bad we have some companies spending up to $2 million on on a single flight
to charter cargo planes to ship their goods. any sign this is getting better, any sign of improvement? >> well you know we get the news out of here, stuart, and i got a bulletin, not only 65 ships out the port of long beach, i think it is up to 100. we drafted in people off maternity leave, paternity leave to help the situation. we haven't talked to the truckers who will have to take the cartons or crates where they need to be going. some things along the line. government getting involved will make it worse. that will not make it better anytime soon, stuart, right, we've seen inflation because we can't get goods and services we need. we've seen all the prices rise. i'm telling you right now, when we do sort this out at some point in time, these supply chains will sort themselves out. it might be probably 2023 by the way. but when we finally get there, stuart, does anybody really believe that those higher prices
have been locked in are going to come back down because we have the supply chains back in order? no. these prices are here to say. this will be a continue all tax forever, forever amen. restaurant food, grocery store, these things will stay even after the price, the supply chains have taken care of themselves. >> scott, you just broke some news for us because if there now over 100 ships off the port of long beach in los angeles, that is news. the supply chain ain't getting any better. thanks for the news, scott shellady. thanks very much. >> all righty. stuart: back to the market as you can see. we have green across the board. we have movers, southwest not moving very much, but why is it done. stuart: the labor supply chain is not getting better either. they plan to drop the plan with unvaccinated staff with pending exemptions. stuart: they backed off. stuart: they backed off because of the labor shortage.
delays and cancellations they saw late last month, ahead of the big travel season they're looking at they will need those workers. sew that looks like their decision will be. hands off for now. stuart: that is a big deal. when one starts to back off because of the labor shortage, others may follow. could be. tell me about proctor & gamble. they reported this morning. >> they did, raised prices again on some grooming, oil, skin care products like razors to counter higher commodity prices and freight prices. these costs all expected to hit their bottom line by $2.3 billion. stuart: good lord. >> i know. it will get worse before it gets better but how long is it going to take before it gets better with all the companies caught in the middle. stuart: the supply chain crisis comes into virtually every financial report we do except this one. microsoft. stuart: wow. okay. two highs in as many days. 309.30 just moments ago, up 9%
already this month. up almost 40% this year. i know you're smiling. stuart: what can i do? i'm almost embarrassed by it, almost. stuart: what did you buy microsoft at? stuart: i will not tell you. actually i can't remember. stuart: you can't remember how much money you made either. stuart: i have that down here exactly. 308.50 on microsoft. leave it right there. president biden will hold two separate meetings, one with moderates, one with progressives today in the white house. charles hurt with me now. all right, charles, they are negotiating against a very tight time frame. who do you think blinks? >> yeah. oh, i think, no, it is a terrible situation for the biden white house right now and i think that in a lot of ways i'm reminded of the environment in 2009 after barack obama first got elected and it took everybody by surprise in washington anyway to find out
that the entire obama agenda, while it did not hurt barack obama it devastated democrats for years to come. we're sitting in a very similar situation. you're right, biden and democrats in congress have a week, week 1/2 to try to get something done because with the elections that are up coming in virginia, if republicans just do well, let alone win a couple of those races in a state that has become far more -- far more democratic than it was in 2009, it is going to put a chill over democrats in washington like i don't think we've seen in modern times. the biden agenda will be absolutely dead. i don't think there will be any appetite among democrats in washington to get any of this crazy stuff done. stuart: you think we're at that point now with these meetings where the very survival of the
president's agenda is at stake today. are we there at this point today? >> absolutely, without doubt. and when you look, think about this political environment. people, we can talk about politics, talk about ideas and all this kind of stuff but when people are worried about their personal safety, people are going to school board meetings concerned about the safety of their children, when people are going to the gas station, paying 4, $5 a gallon of gasoline, looking at shipping container ships piled up outside of ports, you know, you go to the grocery store and you're paying $7 for a package of bacon, these are things, this is not debating society stuff. this is where people are genuinely concerned about their own welfare and their own family's welfare. this is a very volatile, political environment and as dense as people are around here in washington and as dense as politicians are in washington, they realize this stuff.
stuart: well, okay i would love to be on the air tonight to see what the president says about these meetings and to see the expression on the politicians faces as they emerge from the white house meetings. it would tell, it would speak volumes about the future of the presidency. chars, you're all right. >> without a doubt. stuart: see you later. thanks a lot. north korea reportedly fired two ballistic missiles into the sea of japan. i think any details. stuart: act of aggression. fired off the coast of waters likely designed for submarine based launches on a planned visit by the u.s. envoy to seoul. this is north korea flexing their muscles. stuart: this is a story that intrigues me. a lot of parent will consider this one. china is considering a new lay that will punish parents for their children's bad behavior. what is the punishment, what is the bad behavior. stuart: punishment could be
warning, a parenting class, fine of $165, jail up to five days if their kid commit as crime or is just bad in class. a lot of things can get you in trouble in president xi's china. stuart: failure, bad grades? stuart: bad grades, bad behavior. the parents are footing the blame here. this is president xi really looking to further take over society, reshape it in socialist values. doing this with corporate china. now that the familial unit. it is insane. stuart: thanks for that update, lauren. stuart: jails for your kids bad behavior. i should send my kids to china. i would get the blame. forget that. i keep them here. stuart: next case, chicago police officers could now lose their benefits for choosing to retire rather than comply with the vaccine mandate. i will ask brian kilmeade what he thinks about that. i can guess. on your screens, cover of the "new york post," shows migrants walking off planes after being
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stuart: we still some green up 135 on the dow, and up 65 on the nasdaq. pretty solid i would say. the texas border patrol arrested three ms-13 gang members. they were trying to cross the border in the middle of the night. mike tobin at border. in the town of la of la hoya in texas. reporter: migrants come on their own schedule. sometimes a trickle. constant flow but and sometimes
they come across east or further west. they come well in overwhelming numbers depending how they are organized on other side. most of what you see migrants come out and seek someone from border protection or i.c.e. as quickly as they can. a small family with children in toe, came up to the ball field and sought help from bored protection. they do this with the belief they will be able to stay. with a notice to appear at later date. the other coming across are runners. these are people with something to hide. they don't want to be detected. border patrol says that includes a criminal element. they stop ad group of migrants coming from el salvador. background checks three members were members of the violent ms-13 gang. one had convictions for aggravated homicide and attempted homicide in their home country. one previously made it to dallas where he racked up a assault and with a warrant of economisting a
sexual assault on a child. one was served time in the u.s. and was deported. obviously he came back and picked up here. we're waiting for the september numbers which close out the fiscal year and that fiscal year is expected to set records for illegal crossings in contact with haw enforcement. that is despite the deadly summer heat. what we see now, stuart, things are starting to cool off. that is only expected to bring more people across the border. back to you in new york. stuart: it is not over. mike tobin, thank you very much, sir. let's bring in the attorney general of arizona, mark brnovich. you've been to the border, your honor. what do you see? >> i've been to the border many times. as someone that grew up in arizona i will tell you the situation right now is the worst it has ever been. not only talking to the sheriffs down at the border and talking to the ranchers. my own first-hand experience as a gang prosecutor. it is absolutely terrible. we see not only the numbers of
the report he just showed talking about people giving themselves up, we know we're on pace to exceed two million people, twice the population of biden's home state of delaware. we see all the got aways, people dressed in camouflage, don't want to be caught, the worst of the worst. we've seen a huge spike in fentanyl and other hard drugs coming across the border which will not only affect arizona but affect the entire country. stuart: do you, the people of arizona have to pay for a lot of this. >> of course. we pay for it in many ways. we have numerous lawsuits right now going on against the biden administration. one of those lawsuits involves the public charge rule. where the biden administration rescinded policies, if you want to come into this country you have to support yourself. instead the biden administration wants to give a plethora of benefits to people that enter illegally. not just giving them room service and free health care but
other benefit. we have that before the supreme court. we are trying to force the biden admin operation toe continue building the wall. one of the most blatant disregard for the law, the biden administration failing to deport people with deportation orders. what the biden administration has done, they have decriminalized and incentivized monetized people coming here. as a result we see the record numbers. make no mistake about it. arizona is paying the cost. we've seen increase in fentanyl deaths, opioid, fentanyl deaths are the leading cause for teenagers in our second largest county. homicides are up in certain counties. this may be in arizona right now with these human costs and price tag costs but it is coming to every city, every city in this country. stuart: is it true that users on facebook can share information on how to get into america illegally? so there is an active supporters, here is how you do it, and it is on facebook, what
can you do about that? >> it is absolutely heartbreaking and i will tell you, stu, if i were this in the u.s. senate i would do what joe manchin is doing and basically say, manchin held up the bloated infrastructure bill because he wouldn't give them a vote. where the heck like people like cartel kelly, saying i not vote any judicial nominees, i will not vote on any infrastructure bills until we do asking to address the border crisis? you have companies out there, as you just alluded to, we sent a letter to, facebook admitted to us in a letter they are helping promote or facilitating human smuggling into this country. it is the federal government's job, the job of the u.s. attorney's office to prosecute those cases. so instead of trying to intimidate parents at local school board meetings for exercising their first amendment rights where is the heck is the biden administration, merrick garland actually enforcing laws where they have the primary
jurisdiction? that includes on human smuggling. shame on facebook, shame on facebook board of directors. shame on corporate america that is so interested in being woke yet they're basically destroying the fabric of this country and undermining the rule of law. stuart: mark brnovich, attorney general of the state of arizona, thank you very much for being with us, sir, we want an update what is going on in your state. >> you got it. stuart: now there is this, the "new york post," that the administration is secretly, secretly flying underaged migrants to new york. give me the story, lauren. stuart: the dead of night. this is biden's solution to the border crisis, they're kids, teenagers some men in their 20s. they arrived at westchester county in new york and "new york post" said 2,000 migrants have arrived in that airport since august 8th. they're being resettled in the new york area but flights also touching down from texas to florida where governor desantis says washington is setting immigration policies that don't affect them but other states and
taxpayers money, that money as you know often goes to pay the drug cartels. more on this, senate confirmation hearings, for chris magnus, the pick to head customs and border patrol from arizona. stuart: should hear more about this lauren. third world countries want wealthy countries to pay them $750 billion a year to help them quit fossil fuels. i don't think voters in america will stand for that kind of thing. bjorn lomborg will take that on in the 11:00 hour. this is flying car by a chinese company called ht arrow. we'll let you know about this ♪
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wish i was there. check the markets. plenty of green from top to bottom, ladies and gentlemen. we have some movers you might expect. start with walmart, nice gains, lauren, what is the story. stuart: goldman sachs adding them to the conviction buy list that is position you want to be in. walmart expanding health care benefits for the staff. that is a winner. want to tell you about two other stocks, dow stocks that are contributing to half of the dow's 120 point gain today. they are johnson & johnson and travelers. johnson & johnson shares are higher, better-than-expected profits. they guided well on the year. so that speaks well of their vaccine, right? the fda now considering whether you can mix and match boosters with the j&j shot, maybe with the booster with moderna. flooding and severe damage but their profits still better than expected even though they went down. stuart: please don't forget microsoft a dow stock, surely
adding a lot of points to the dow industrials. stuart: can go up even more. 309 was the last high. stuart: perfectly happy with 309. believe me. i can live with 309. 38 too. chinese car company, ht aero raised a lot of money. they are backed by one of chinese electric vehicle makers that is the prototype. when does it get in the air? stuart: 2024, if the regulators can keep up. imagine seeing the vehicle. it can fly and drive. both things. stuart: flying car isn't it. lauren: a flying car. they raised $500 million. putting their money where their mouth is. it is cool, definitely the jettison's future. not sure it is happening as early as 2024. what do i know. stuart: a sleek looking vehicle. lauren: traffic these days it
will get here sooner. stuart: one electric vehicle which is outselling the tesla model three and the x. lauren: s and the x, see it on the screen. that is porsche. lauren: the porsche tican. not just out selling the model 3 and model is, it is doubling their sales. nearly 29,000 sold this year alone. this is porsche's first attempt as an electric car. it is being hailed as the most desirable electric car own the market, operates like a sports car even though you plug it in. stuart: the acceleration in any electric is fantastic. the porsche is fantastic. lauren: only been in one electric car. stuart: never been in one or driven one. lauren: maybe electric f-150. stuart: a porsche tie can. check the markets, we're still in rally mode.
still got green on the screen. bring in jim lowell market watcher of the morning. i like the bow tie. that is the way to stand out on television, make people look at you. sir, handle this one. why hasn't market reacted to all the inflation news and supply change disruptions because we're still close to record highs? >> this is a great question, stuart. this is not a tickle me elmo moment, but a tickle me elmo economy. whether we're looking at sneakers, washer and dryer you want, there are a lot of issues affecting prices in an inflationary manner thanks to the supply disruption as you noted and we think it is likely to stay, not just through the end of this year but as we wind our way through 2022. we switched our guidance from inflation being transitory to episodic. we think we'll have several bouts of fighting inflation as we go forward. so far consumers do not seem to
be thwarted by any of the price issues that attend inflation. as we know consumers drive our markets and economies. stuart: i've been around a long time, longer than you, sir. my observation is when ever you got inflation starts to tick up, interest rates start to tick up, and the stock market reacts usually by going down. why is it different this time? >> correct. i think that the fed has done a good job, sort of slow boiling us to the first initial tapering which will be moderate. they done an effective job calming the fears, allaying the market fears. what the market has not priced in we don't know who will be running the fed come the start of 2022. that i think will be probably a bigger shock than current inflationary fears. so far investor have effectively understood fighting fear of inflation, rather than inflation itself has been the game that's
been afoot and not fighting the fed is the became to be in. stuart: should i not sell my stock portfolio, leave it in place right now? the viewers know that i've got a thin sliver of microsoft. that is the basis of my portfolio. i should hold it? >> i would hold microsoft for now until the foreseeable future. i do think this is an excellent time for any investor to risk assess. make sure they have got at leave some cash, powder dry, not just for defense but also for opportunistic buying sprees. we'll get them. domestic stock market here looks a little bit overvalued to us. china of course, self-inflicted wounds over there. but long term it is hard to argue against the fact that investor will want to be well represented in the two largest superpowers, economies on the planet that is the u.s. and china. you can buy china on a discount but have to have a very strong stomach to do so. stuart: for benefit of other
viewers in their '70s, your advice stay in stocks, is that it? >> stay in stocks. have an asset allocation appropriate to your risk tolerance. even though bonds delivered next to nothing, cash is less than zero, those are buffers you need in the portfolio as volatility returns and we have seen volatility begin to rear its head in this marketplace. stuart: like the bow tie. love the presentation. we'll see you again soon, jim lowell thanks very much for being here. >> thank you. stuart: as the strucking industry face as driving shortage, a driver crisis actually, a california high school is training teens to drive 18 wheelers. i'm not sure that is legal or not but we've got the story. we've been telling you about the backlogs at the ports in california. another big port struggling on the east coast. jonathan serrie has the report from savannah after this.
stuart: left-hand side of the screen, still plenty of green. that means the market rally is in place. bitcoin however, has dropped to the session low of the day. it was at 64,000 and change. now it is 61,800. you have quite a swing in bitcoin this morning. let's get to the story about one school a high school training teenagers to drive 18 wheelers. sounds great, lauren, but i don't think you can as a teenager drive an 18 big-rig across state lines. you can't do that. lauren: you can't do it right now. you have to be 21 years old but the problem is, we are short thousands and thousands and thousands of truck drivers. the average age right now of a truck driver is 54. so they're retiring. how are you going to get the
truck drivers? california is looking to change the rules. >> we started this program, mainly because we saw the need for getting more younger people in the industry. we're currently short about 63,000 drivers today. that number is expected to climb drastically over the next five to seven years because we have an aging workforce. we need to create a pipeline of just young, well-trained talent into the industry. lauren: 180 hours of classroom instruction. 30 hours of lab work. but the provision to decrease the age from 21 to 18 is in a hard bipartisan infrastructure bill which is stalled right now as the democrats fight over it. stuart: there is a proposal to lower the age from 21 to 18 to drive the big-rig, across state lines, that california operation is jumping the gun figuring that it is going to happen. hoping it is going to happen. lauren: smart move, even though it is happening in california. stuart: nothing wrong with that.
why can't an 18-year-old drive a big-rig. lauren: should they be able to drink legally? stuart: that is whole separate argument but a good one. lauren: the other argument people are making, is it safe, even trained having a teenager drive a big-rig? stuart: come on with a clean license. a more than many 54-year-olds. we told but the backlog at the ports in los angeles and long beach. but there is a big problem on the east coast, the ports there too. jonathan serrie has this report from savannah, georgia. jonathan, how backed up are they there? reporter: hi, there, stuart. well as we speak there are two dozen ships waiting just over the horizon off of the georgia coast, waiting for their turn to come into the port of savannah but this port is a hotbed of activity. they are actively loading and offloading the ships you see behind me. you see one cargo vessel. there are several others behind me. you can see the giant crains over them transferring these
massive shipping containers. while all of this is going on there is also a massive expansion project at the port that has been expedited to deal with the increased consumer demand. let's go to a live shot from our fox flight team drone where you see the port of savannah being in constant motion. all of the shipping containers that have been piling up and just waiting here to be picked up during the heart of the disruption in the supply chain, the numbers of those containers is beginning to go down, which is great news because time is money and the accumulation of cargo at america's ports has its costs. >> you have something sitting on the dock, you can't access it that is demand you have to bring in by airfreight at a higher cost, you're losing sales, your dollars are tied up in that inventory.
reporter: after temporary factory shutdowns and other disruptions during the pandemic depleted inventories businesses lost the cushion they had to deal with more routine things such as bad weather and equipment problems. >> people were using what we call just in time approach and keeping just enough inventory on hand and i think people will reevaluate how they handle their inventory. reporter: stu, as we come back to our live shot this ground i'm standing on right here in a matter of months, this is going to be water. this is one of three large expansion projects. in this case they will straighten a bend in the savannah river so they can accommodate the very largest container ships. they found it is more efficient to bring in one massive ship than to have to bring in the equivalent of several smaller vessels. so this is just part of their efforts here at the port of
savannah to streamline the supply chain. back to you. stuart: jonathan serrie, looking at progress in savannah. not much progress in ports in california. that is where we stand. jonathan serrie, thank you very much. the john deere strike has farmers worried about getting their farm equipment. what are they saying, lauren. lauren: bottom line they're worried about their own bottom line and harvest at risk and planting season. prices at food store will be here to stay a little bit. it's a worker shortage. exacerbated by the john deere workers going on price. scarce equipment. old machines fetching big bucks at auction. very unusual that a farmer bought a tractor back in 2009 for $100,000 is a able to sell it for $140,000 now. obviously will have issues. it will break because it is old and used. they can't always get the parts to fix it. this crisis is affecting every aspect of people's businesses. stuart: it is.
i have an update now. remember scott shellady talking about how many container ships are backed up off the coast of california. lauren: right. stuart: it had been 70. well the "new york post" is reporting it is now 100 vessels of all kinds are at anchor or holding area to enter the ports of l.a. and long beach. no progress in california. some progress in savannah. got that. next case the chicago police officers could lose their benefits for choosing to retire rather than comply with the city's vaccine mandate. nba player, jonathan isaac slamming the media for politicizing vaccines. roll tape. >> i think there is a great mischaracterization of the media turned this thing so sour, it has been politicized. i see it with people, standing with people deciding not to get it. stuart: he says he won't take the vaccine. it is all about choice and freedom. brian kilmeade takes on the
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stuart: checking the market. update the california ports again, the "new york post" is reporting that there are now 100 vessels of all kinds at anchor after the coast of california. that beats the previous record of 97 vessels which was set on september 19th. so the situation is getting worse. all right, we're coming up on 10:51 east coast time. that mean it is time for brian kilmeade that is the man himself appearing right now. let me go through this. yale new haven health fires 90 employees because they won't get the vaccine. nba player jonathan isaac, not getting vaccinated. he is out. washington state football coach is out, wouldn't get the vaccine. brian, seems like there is no off-ramp for the vaccine mandates and that is a real problem. what do you say? >> it's a problem for those individuals. i just add a couple other things. yale university, they want to make everybody dumb toothless, trump sporters.
how do you explain the number of phds don't want to get the shot? how do you explain the 100 yale employees don't want to get the shot. i heard reports that yale is a place of higher education. number two, not only head coach of washington state were fired, so was the coaches. this guy was recruited from the university of hawaii, very sought-after, very respected. what about the kids went there to play for the coach in washington state? does the governor feel better about himself? president biden, they're in over their heads. what i think, stuart, they looked at the study showed over 60% of american public when asked, for vax mandates. maybe not their teacher who is teacher decided to lose their job or cop or firefighter or hospice worker, to lose their job to get the shot, all right? number two, i think they're realizing there are real people, good people who don't want to get the shot, don't want to be told by a president, politician, or a governor what they should do with their inoculations as well as natural immunity.
22% of the public says the reason they didn't get the shot they already had the virus. they got the antibody test, they grade high. the president is in over his head on this one. don't tell me you're compassionate for people. don't tell me you've been through personal strife. you have no problem sawing off 10 to 15% of every major organization state worker or federal worker while confessional staff members are exempt from getting the shot. white house executives, they got to get it. congressional staffers don't. how is that fair? while having illegals, 1.6 million coming here unvaccinated, 20%, they say on average are sick with some type of illness. the tell me why this should stand in america. stuart: let me offer another side to the argument. maybe the vaccine mandate works in a sense it push as large number of people to get the vaccine. for example, in the l.a. school district 99% of l.a. school teachers have become vaccinated. you could say that the mandate
works in pushing people towards the safety element. what do you say to that argument? >> congratulations on those 99% who said i will keep the job but that 1% if you look at the size of that school district is hundreds, if not thousands of people. so those people are now out of a occupation as well as of a job. is that your job, to kick people out of their chosen occupation? is that your job? and by the way, there is a lot of people who are getting the shot have adverse effects. for example 12 to 18-year-olds, the 18, 22-year-olds get this fluid on the heart, this enlarged heart a lot of them are suffering from. there is not all upside to getting vaccine. mostly upside. i chose to do it but i do not want the american, i do not want a politician tell me what to do with the medical advice. my goodness. he already got herd immunity, everything is going down, cases
hospitalizations, deaths, what more does he want? stuart: listen to this, in some case this is is worse. police officers in chicago are not allowed to retire over the vaccine requirement. they can't say i'm retiring now. i don't want the vaccine. if think do say that, you realize their lose their benefits? they lose their pension, which is a handsome pension but if they try to retire without getting the vaccine that is dead wrong. >> true. and the union said, i have an idea. no one on the chicago police force register your vaccine status. so the mayor doesn't know what to do. because they already don't have enough cops. they can't chase down suspects. not ever backed up by the terrible mayor, counting days until she is gone for america, not just chicago. you have the vaccine mandate? they pretty much know the risks. while we were still trying to figure out what this virus was, we're coming to grips that china started it, it came from china, we're allowed to say it. they're out on the streets trying to enforce pandemic
rules. we're so worried about their welfare? fire them, rather than do what they claim is the right thing. stuart: it is not right. it is not right. >> the world is upside down. stuart: the world turned up said down. see you soon, brian. >> go get em, stuart. stuart: still to come, sandra smith, david bossie, bjorn lomborg. we'll show you this again, migrants flown from the border to u.s. airports in the middle of the night. why the secrecy? because the open border policy is progressive policy. it is not popular. they don't want you to know about this. that is my opinion. that is "my take" next. ♪. ok, let's talk about those changes to your financial plan. bill, mary? hey... it's our former broker carl.
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♪ ♪ wellcare is committed to getting rid of the nonsense and inconvenience associated with health insurance. instead, they're just focusing on giving you great benefits. so don't delay, act now. wellcare. it's medicare done well. >> the biggest argument between the left-wing progressive and manchin, they don't want any part of that and don't want work requirements. save america, kill the bill. >> people think joe manchin is running the democratic party, the socialist in the house are truly running the party. it is why the republicans are going to clean up next year no matter what happens. >> people are genuinely concerned about their own
welfare and as dense as people are in washington, as dense as politicians are, they realize this stuff. >> half a dozen democrat senators uncomfortable with the level of spending and him aspects to this bill, the largest expansion of government in the history of this country. that sort of thing can cripple our economy. >> we are very bullish in the fourth quarter. one of the biggest mistakes professionals make is calling the top too soon. ♪♪ stuart: 11:00 eastern time, tuesday october 19th. take a look at the markets, you see a rally for stocks across the board, dow is up 150, nasdaq moving up to a gain of 87 points. bitcoin on the rise, earlier this morning it reached 64,000 and change, close to an
all-time high, back off to 62-3 as we speak. let's look at pro shares, the first bitcoin futures etf opened today, just about stable at $40 a share. now this. the administration doesn't want you to know what happens to all those migrants coming across the border. the new york post breaks the story. migrants are being flown from the border to smaller ports around the country. they are doing it in the middle of the night, they are keeping it secret. like a lot of people the new york post wanted to know where those thousands of youngsters end up so they checked out late-night flights going into airports like westchester or long island, they spotted hundreds of teams and early twentysomethings getting out of the planes and being taken away on chartered buses. they are heading to relatives or sponsors, why the secrecy?
the border is a progressive policy. the open borders a progressive it and not popular. i want to keep it quiet. they don't want you to know that migrants will stretch, overstretch schools, they don't want you to know you have to pay for the border chaos they created. is there any parent not shocked and dismayed when they see these children in such dire straits? is the mainstream media? they pretended to be horrified by kids in cages during the trump years but won't cover the kids dumped over the border fence and wouldn't dream of letting you know how bad things really are. the biden administration is complicit in this, open the border, let them all in and don't tell voters what you are doing. caught by the new york post. third hour of varney about to begin. sandra smith is right here.
where is the mainstream media. >> they are not covering it. hard to get anybody to talk about it. every day our team reaches out to comment on issues like this. let me tell you we've not had a single response or request for secretary mayorkas, the head of cvp, we asked anyone at the white house that might offer any insight onto this reporting or even in the nile of it because we've not been informed that this is happening. we will see if they give us an interview, given them a deadline, my show starts at 1:00 eastern time today. i have been superhot on this from the beginning. is this something president biden, when he was candidate biden, openly supports open borders, why the secrecy. not just children and our
heartbreaks for those children, we are told in the mix young men in early 20s what is the vetting process if this is taking place. they are not being taken to fancy elite communities. like ted cruz is suggesting a bill. let's put them in these elite communities as democrats cocktail. you said this, this is the editorial board, they don't want voters to know how many people, open borders might be the policy of progressives but not popular among the majority of americans and that is that in a nutshell. stuart: it is not popular so don't publicize it.
huge meetings at the white house, moderates get together with president biden at 4:30 this afternoon, progressives started at 2:00, they are trying to negotiate this $3.5 trillion deal because they have a time crunch against them. who do you think blinks first? >> as far as the infrastructure bill, why not have an up or down vote on that based on people to judge's own words, the transportation secretary says we need the transportation bill to get the transportation crisis fixed. stuart: they won't allow that. >> meetings will take place at 2:00 eastern time today so we are actively monitoring it but we have seen so far, behind closed doors in the immigration story, i don't know.
stuart: a large group of both. >> we have had multiple democrats, people in the administration saying we need the infrastructure bill out into next year. so why aren't they encouraging president biden to have them up or down vote, standalone infrastructure bill? stuart: senator manchin is not talking about a carbon tax in negotiations on the spending bill. that is something a few economists wanted. a carbon tax as opposed to green ideas but manchin says no. >> if we continue to talk about massive spending bills and you have the inflation problem we have today, american families are suffering, supply chain crisis looks like it is going well into 2022 this becomes a major major political point and speedbump for democrats in the next election. stuart: the biden presidency is on the line.
has got to get this done. we are going to be watching you on america reports, 1:00 to 3:00 eastern on fox news. i would like to see if you get that from the white house. >> we are digging into that story. stuart: always a pleasure. chief economist of goldman sachs warning about, quote, a substantial slowdown in the economy next year. this guy has clout. mike murphy has clout and joined me now. what would that mean for investors if the guy is right? a substantial slowdown for the economy next year? what is your advice to investors? sell something now? >> my advice to investors would be to stay the course. if you look at what john hopkins is talking about, next year his gdp forecast for the us economy from 4.4% growth down to 4% growth and you and i had discussions live on the air not long ago when 2% growth was the norm.
he may be right, he may not be right. there are a lot of variables like covid, for individual investors, to overreact and sell something based on this would be a mistake. stuart: what is your biggest worry right now, when you look at all the things that can go wrong in the economy or politics what is your biggest concern? >> it is not covid. we've gone down that road before. it is not the supply chain issue because i think there's a relatively simple answer and we will get through the other side of that. the biggest concern, what can derail the market rally is the fed. of the fed overreacts, if the fed tries -- no sign going to but if the fed overreacts and tries to raise rates too quickly, we could have what we've had in a past, a taper tantrum. that would be bad for markets in the short-term.
stuart: over the long-term, you're still a buyer, you are not a seller. you will always be a buyer no matter what. >> until history proves otherwise, any selloff in the us markets have been buying opportunities for investors so i will always be a buyer as long as the us economy is strong or relatively strong and i believe in the united states of america. stuart: and investor for many years, for most of those years the stock market has been enable run. we bottomed in 2008, that is 13 years ago. that was the time you were getting into the business or close. >> appreciate that but it was 1995 and the dow had gone through 4000 and people were saying we couldn't sustain the price of 4000 so i have been through the tech bubble bursting into thousand, in the great recession, every one of
those has something in common. they were massive buying opportunities for individual investors. stuart: let's not forget that. lauren is watching various things like ibm which is down a bit. >> look at adobe systems which is 2.2%. word on the deal so ibm is acquiring modern work management company, a consultancy that offers coaching, marketing solutions in the cloud, from april of 2020, this is the seventeenth acquisition, this is ibm's building out the cloud and ai for its enterprise clients. you see how the train happens. stuart: started trading today. it is higher, that is the crypto exchange, benefiting from the approval of bitcoin futures etf, brings credibility
to the space, attention and more money. >> down 5%. having a virtual analyst and investor event, they are expected to announce same day delivery which is great but expensive and ahead of that there forecast, same-store sales growth each year for the next 3 years, 3% to 5% the year, the street was hoping for higher numbers. stuart: a beauty company gets into the same day delivery. it is same day delivery, that is the head lean. tells you something. stuart: a football coach fired for refusing to get the vaccine denied a religious exemption. all countries want $750 billion every year to help them quit
fossil fuels. the biden team is walking into another crisis. lumber will respond and discuss. speaking of crises, we are facing a crisis of confidence we haven't felt since the days of jimmy carter. david body will make his case next. ♪♪ you have the best pizza in town and the worst wait times. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire i'm so glad we did this.
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11:17 eastern time. play a little beatles for you. former donald trump's website has been restored after a hack attack, the attacker left the short message, also claimed responsibility for a hack on president biden's campaign website with you. trump's website restored. here's a fox news headlines. biden, fauci, covid surprise coming? sinking poll numbers, crises may bring course correction. david bossi wrote that in joins me now. you said biden covid surprise coming. what is the surprise? >> what is and is surprises crashing poll numbers, approval rating in the mid-30s and continues there is no bottom in
sight for this administration, they created crisis after crisis and with this unconstitutional vaccine mandate they created a coalition of the willing, those airline pilots, healthcare workers, police officers, firemen, the football coach getting fired, we are seeing this across the country including conservative, black lives matter coming together as a coalition against president biden and he cannot afford this at this crucial time. one of the things he could do is have doctor fauci, who is the new religion in america, declare we reached heard immunity and it is not difficult for them to try to make the case. stuart: do you think that would be a way out, and offer them for the vaccine mandate? have fauci declare heard immunity? that is highly unlikely. >> it is unlikely but what is
also unlikely is them continuing down the same path and this path is a dangerous one for this administration. they have one crisis they created after another and it is their own doing. donald trump left a strong economy and we have hyperinflation, jimmy carter level malaise coming, a crisis of confidence in our economy that has not been seen in a generation and they have to get this under control and they have an afghanistan problem, border problem, covid problem, one crisis after another they have created out of whole cloth in the american people are tired of it, looking at what donald trump was able to do solving problems. everything will day. president biden created problems for the american people. that's not what they wanted. stuart: they launched
investigation into the afghan withdrawal. if anyone is held accountable which raises another question, could the president change course by holding somebody accountable, not necessarily himself but for afghanistan, holding somebody accountable, and by firing them, would that be a course change that would change the course of his polls. >> it would. >> the crises, that no one held accountable. while we have americans suffering every day, don't hold out hope that he could do that. this investigation in afghanistan by the inspector general, these things take years. no one knows what happens, the
horwitz report but congress needs to hold the biden administration, there will be impeachment hearings. the phone call, made by donald trump to the former president of afghanistan, there is a host of other issues, leaving all the equipment, the cost 13 americans their lives, hundreds of americans behind. the american people deserve the answer and we haven't gotten them yet. stuart: you've got to win back the house. nice to see you again, we will see you again soon. plenty of green, the dow up 178 and the nasdaq up 87. sports betting stocks, we are
showing you, new jersey became the first state to take in $1 billion in sports betting in a single month. that shows how strong the sports betting business is. $1 billion in one month in new jersey. a hockey player is suspended for violating covid rules. good morning. does this guy get paid during his suspension? ashley: kane has been suspended but 21 regular-season games and that is without pay for violating the nhl's covid 19 protocol. it was reported kane was being investigated for allegedly submitting a fake covid vaccination card. that was not the violation that resulted in his suspension. in a statement released by nhl players association, kane apologized to his teammates for violating the league's covid protocols, saying i made a
mistake, one i regretted take response ability for. i will participate in canceling to make better decisions in the future. stuart: the football coach fired for refusing a covid jab, you know more about it than i do. ashley: washington state university's head football coach and four assistant coaches losing their jobs for not complying with the state's covid vaccine mandate. the athletic department called it a disheartening day for the football program, it is the health and priority of the young men on the team. three months ago in a post on social media, he elected not to receive a covid 19 vaccine for reasons which will remain private adding that he does respect every individual to make his or her own decision
regarding the vaccine and earned $3 million a year, not bad but he had asked for a religious exemption reportedly and was denied. washington avenue j inslee set a deadline of october 18th yesterday. to be fully vaccinated a risk losing their jobs. that is what happened to the head coach of washington state football program. stuart: governor inslee will not allow the testing option. it is either get vaccinated or you are out. as simple as that. ashley: very strict. stuart: thanks. former president obama teaming up with the muppets, we will tell you what is going on with that. demand for coal generated power on the rise for the first time in twee 7 years. the labor shortage is getting away. call country, west virginia coming to you next.
manhattan is coming back, not much activity today. check the markets, dow industrials up 168, the nasdaq is up 86, a pretty good rally. power generated from coal expected to surge by 22% this year. it would reach the highest levels this year since 2014. mcshane in west virginia, in of call my workers to keep up with demand. >> they had trouble finding them but it is unique. the man being up and prices are up as well but you are finding, trying to find work in the mines. it can be essentially difficult for an industry that has a political target on its back. >> one of two votes away from seeing this with that.
to be totally eradicated. 70 or 80 a year. >> along the ohio river, the coal region like it was years ago, it was an important industry in the communities so they are watching the news out of washington, west virginia senator joe manchin, it appears he might be able to block $150 billion program, key component of president biden's climate agenda. essentially paid utilities to make the switch from burning fossil fuels to more renewable sources of energy and at the same time if it had gone through, it would have find them for sticking with sources like the ones we see in west virginia, what is behind me as an example. it comes when demand for coal is up, price of coal is up 20%.
the iron he and all of that, being in demand in so many ways and being under attack in so many ways, talking to a young coalminer, in the middle of october, when you turn the heat on in your house, say thank you, his point was this is an industry that is still very much in demand and needed in this country. stuart: wait until winter starts. thanks very much. south africa's environmental minister says wealthy countries need to pay $750 billion every year to third world countries so they can deal with climate change. i would think this is a major sticking point in the climate talks, no way rich countries are going to pay trillions and trillions of dollars over the years. what say you? >> exactly.
we promised to pay $100 billion to developing countries, we've not reached any of that and that is per year. the developing countries are saying where is that money? now they are asking $750 billion and that might go up and up because essentially the rich world is telling you have to go net 0 as well. for the rich countries this is phenomenally expensive, one new study in nature shows this could cost the average person in the us by 2050 more than 11,$000 every year. there is no such money available not only not in the us but also to reimburse chinese and indians and africans to go net 0. this is not going to happen. stuart: i am sure you've seen this. jen psaki says president biden is looking at options to meet his climate goals. the role tape.
>> president biden has been clear about what he supports, 100% clean power by 2035 is the goal he committed to a year ago and he remains committed to it. the good news is there are a range of good ideas and proposals out there from members of congress about how these legislations can help meet that goal. stuart: are there any options available which will get us to 100% clean energy by 2035? >> not anywhere listed options. we should think about a carbon tax because a small carbon tax reflects the damage from co2, makes sense but that is not going to stop co2 from being emitted. it will reduce it a little bit. what we really need if you want to go net 0 or go clean and if you want to get the whole world along with it and your own voters in the us you need innovation. it is only if you can find cheap ways of getting green energy everyone will accept. imagine for instance if we could make fourth-generation
nuclear much cheaper, obviously everyone would buy it. it would be green and we would not need the handwringing and arm-twisting we are seeing at climate summits. stuart: it is ironic he will meet in glasgow on november 1st just as the world is getting cold in winter and a shortage of fossil fuels and renewables are not making it. the great irony there. i wonder, last word to you. how do you think this will turn out? >> the new york times, one of their reporters tweeted a couple days ago, this looking like copenhagen which was the last failed climate meeting. there was a lot of apprehension with good reason. once you see people paying more for their energy they are not willing to do so. stuart: a frequent guest on this program, don't be a stranger.
youtube bringing together big names for a special video about climate. ash, i understand president obama is involved in this. ashley: the so-called hollywood president because of his love of tinseltown celebrities joining a band of stars this time on youtube to enlighten us on climate change. mister obama will deliver a keynote address as part of a youtube original program called dear earth. those celebrities included billy irish, and even spongebob squarepants, they will all encourage viewers to imagine a sustainable future according to a trailer, the special will
include 100 minutes of optimism, action and innovation. it can't be all bad. it sounds decent. >> are we prepared to pay the price. i would love to know the answer. ashley: know better expert than the muppets. stuart: thanks, choice words. four airlines dropped mask requirements on domestic flights. it is unfortunately not happening here but we will tell you how to fly without covering your face. another 16% by the end of next year. appraisals already can't keep up with rising prices. grady trimble has a report on that next. ♪♪
for stocks. microsoft winter 308, blackstone went to 127, the dow is up 165, nasdaq 87, plenty of green on wall street today. appraisals can't keep up with rising home prices and some deals are falling through because of it. grady trimble in the chicago suburbs. how can buyers make sure this doesn't happen to them? >> the short answer is if you want the house be ready to put more money down and this is becoming increasingly a problem in this housing market. let me show you the numbers. according to core logic in august, 13% of houses appraised below the contract price, almost double normal rate if you look before the pandemic. kathy wilson is a broker in the chicagoland area. you only had this happen a couple times. what do buyers and sellers need to do? >> i would have to say in terms of being a buyer you have to
come in and prepare, you are already preapproved. you have to know what dollar amount you pay for a house and if it is a house you go after and you know you will go after it and so is everybody else, you have to come up with a number that know that that is okay, just walk away or if you're going to go after the house, you know how much money to put down in order to make it work. >> if the appraisal is under the contract price you might have to cover it. >> have to make up the difference in the only other alternative is to hopefully get them to come down in price but you know that is not going to happen in this market because there is somebody waiting in the wings that will take it over. >> for sellers you appraised houses before you listed them which is not something you've done before but are doing in this housing. >> i've done it before but not to this degree were this often and i have an appraiser that has been doing it for 35 years.
he is my go to. i get a number, i know i am confident about that number. i will usually go up a little bit knowing there will be multiple offers but that is my credit ability. that will give me the ammunition. >> reporter: goldman sachs is estimating housing prices will keep going up, 16% in 2022. stuart: i will believe that when i see it but it is not out of the question. thanks very much, see you soon. i have a programming note. don't forget tune in to foxbusiness prime, all new episodes of american dream home and mention global starting at 8:00 pm eastern. target doubling the number of many apple shots within its department stores. target workers will be trained by apple to sell things like iphones and ipads, these apple shops will be set up in 36 stores in time for the holidays. i find that good news because
there is a line out the door at every regular apple store that i see. show me the dow 30. i do sense of the overall market. the sense of that market is we are going up at least so far today. dow was up 164. most of the dow 30 are in the green. christmas travel reservations up 160% from 2019. we are ready to travel again. that's causing a shortage or creating a shortage of everything from air b&bs, rental cars and even suitcases. we will deal with that in a moment. ♪♪ no place like home for the holidays ♪♪ no matter how far away you roe ♪♪ if you want to be happy ♪♪ in 1 million ways
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slightly from the 2019 levels. show me southwest airlines. news from them. unvaccinated workers who want medical religious exemption will no longer have to go on unpaid leave. southwest gave workers until december 8th to get the jab. southwest is backed off. they have a labor shortage, can't afford to lose workers, backed off a mandate. here is the story about the airlines which don't require masks, they are scandinavian airlines, they dropped the mask requirements for flights from sweden, denmark and norway. i think that is the only place in the world you can fly without a mask. we were hoping that news was about america but it is scandinavia. anyone looking to travel on the holidays you will likely have trouble finding flights, places to stay, even suitcases, jeff hoffman is the man behind the travel website priceline.com. travel doesn't look good for the holidays.
i'm worried about tsa workers who are not vaccinated and endless lines at the airport. >> it is a perfect storm. significantly everybody is planning their thanksgiving. if you are watching this show, and you should be because it is the best show on business television, you already made your holiday travel plans it may be too late for you. travel bookings, capacity is already full right now. in addition to holiday travel a couple other things working against you. on november 8th the us opened its borders to european travel again, they are booking in the us and you have this factor
that thousands, millions of americans have use it or lose it vacation time and staying home is no longer a vacation. they are trying to book travel. travel prices, some as much as 50% or 60% higher than they were before the holiday added to that these statuary's, not only the vaccination issues with airlines like southwest and american airlines but pilots they can't bring back right away because they haven't flown in so long they need training again. it is going to be a tough holiday travel season. stuart: i am trying to think about how to follow that up. that's a comprehensive list of trouble if i'm flying this holiday season. is there any way around this? could we miraculously see tsa agents get vaccinated, miraculously pilots turn up to do their job, miraculously there is no labor shortage? it doesn't sound reasonable to
assume or even hope for that? >> it really doesn't. the industry can't move fast enough. the holidays are already upon us. it is just going to be bad. you mentioned tsa, chuck schumer talked about why don't we bring dogs in? dogs can do a good job in tsa, they are fast and efficient but they can't fly the plane or serve drinks so there is no way around it. stuart: when does it get better? >> i don't see it getting better until pretty late next year. international business travel 2024 is what airline ceos are saying now. starting in 2022 but it will take most of next year before it gets better in travel. we have a ways to go. stuart: if i want to go to florida for christmas. i live in the new york area. should i drive? >> if you haven't already
booked it you may wind up having to drive. the prices are high, the seats are sold, a lot of people will hit the roads and drive this holiday. stop by and see me. stuart: we like having you on the show except when you deliver news like that. you got to tell it like it is. i think i am driving. we will see you again soon. thanks. look at this. 11:54, that means for the question. who is the only artist to have the top 20 hits on the billboard hot country songs chart for six straight decades. the answer when we come back. i think i know the answer. we will be back. and your family first. i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals.
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to healthcare. stuart: this is the trivia question. we'll bring ashley into this one. he is a music kind of guy. good morning, ashley. we asked you, who is the only artist to have a top 20 hit on the billboard hot country songs chart for six straight decades? what is your guess, ash? ark ashe i have no idea after 10 years in nashville you would think i get a clue. i was going to say, willie nelson or dolly parton. i will go to dolly. stuart: i will go with willie nelson because he is older than dolly. it is dolly parton. beginning with the first top 20 hit, something fishy, that was 1967. a new version of jolene with the group pet at penatonix.
dolly 25 number one hits, 40 top 10 country albums, and 3 grammy nominations. on top of that she is real nice lady. >> she is. i have many times. she was great. stuart: you were in nashville. we had her on the show one time. what a generous, terrific lady. that is my take. jackie deangelis in for stuart. >> did i hear you're saying you are driving to florida? i don't i have to get there for christmas. i do not want to get stuck in an airport. >> i may want to hitch a ride. talk about that off-line. stuart: share the ride, jackie. >> thank you so much. welcome to "coast to coast" i'm jackie deangelis in for neil cavuto today, some of the top stories this afternoon, president biden working furiously to get his own party to agree on a spending bill but we're learning the two sides won't even be in the same room during talks today.