tv Varney Company FOX Business October 20, 2021 9:00am-12:00pm EDT
california, a lot of star wars fans out there. >> i just want my home to be a quiet sanctuary so it is not for me. maria: thank you for being here. see you again tomorrow. "varney and company" begins right now. take it away. stuart: good morning. we have 3 vote development on the vaccine front. it doesn't affect wall street, might affect the economy. new york city will insist all city workers get vaccinated. no testing option. no jeb no pay. this applies to first responders like firefighters and police officers who at this time have low vaccination rates. that government workers. at southwest airlines a change of plan. unvaccinated employees will not
be placed on unpaid leave. that the retreat by management because that airline was badly hit by worker shortages. then there's the uk. doctors warning about a new variant described as a sub type of delta. a mutation, 8% of new cases are this variant and the caseload is rising. doctors suggest restrictions and mask wearing and social distancing may have to return. two years in covid making the news. politics, democrats claim to be making or taking headway with their massive spending plan after a series of meetings at the white house, they have a number down to $1.75 trillion to $1.9 trillion. they spend on expanding medicare, 3 pre-canned big bucks for climate change, the progressives are claiming a win. all our priorities are there in some shape or form. the dow is going to be down 30.
s&p one. nasdaq 11. no change. bitcoin real close to its record high. right now 64,780, the record high is 64,860. we are real close to a record high. interest rates rising a little, we have one.62% on the 10 year treasury. big show for you. megan mccain unloads about the toxic work environment she experienced as the loan republican on the view. the virginia gubernatorial election is the state of play in politics. democrat terry mcauliffe getting testy with reporters asking tough questions, bringing in the top guns to help. republican glenn youngken on the parent school board revolt was only a three point difference between the two. i will report the battle real,
prince william, versus prince harry. something different on the show today and we really do cover it all. october 20th, 2021. "varney and company" is about to begin. ♪♪ my man is a guy ♪♪ stuart: we returned to our and some. money, money. pink floyd and all that. the president is leaning towards a slimmed-down spending plan was the price tag will be cut in half from 3 one.is from $3.5 trillion to $1.75 trillion. by dropping the number which programs of they dropped? >> the top line is $1.9 trillion. free community college, goodbye. immigration reform was the climate change reforms have
been scaled back plus the child tax credit likely extended just one year and also means tested. for the most part senator manchin gets a lot of what he wants and he think the broad deal is possible by friday. that will be welcome news because you saw the latest approval rating, 37%. new record low which means half of voters disapprove of how he is doing. stuart: she thought it was a win because she got almost all of her priorities still in place. lauren: their messaging to their side. stuart: there is no deal. lauren: they are arguing but it could be a win for biden because it shows him as mediator in chief which is what he campaigned on. both sides think they won, president biden won. stuart: let's see what senator rick scott has to say, the senator from florida. if the democrats have got this
number down, cut their spending to $1.9 trillion do they get a deal with that number? >> not good for american families. american families are struggling with this insulation. i watched my mom struggle to put food on the table. gas is up, everything is up and democrats want to spend more money. reckless government spending which is what this is is going to cause more inflation. we have a supply chain problem, inflation problem, border problem, why don't they solve those problems before they spend $1.9 trillion that we don't have. your taxes are going up. they are raising everybody's taxes to pay for this was everybody's taxes go up. stuart: florida looks attractive to me right now and you know that. a technical point. if it is a $1.9 trillion plan is that on top of the infrastructure plan?
>> absolutely. the $1.2 trillion they say was paid for but wasn't. they said it was infrastructure. less than half is roads, bridges and seaports. that is not paid for. this is not paid for in your taxes are going up and it will cause more inflation to hurt the poorest families. stuart: is the republican party united in opposing the $1.9 trillion deal if that is what the number is? >> absolutely. republicans listen to people. democrats don't listen to anybody. they just want to spend your money. i know that americans are worried about this. we can't keep doing this. it is hurting the poorest families. stuart: i study with another
issue, the administration backing down from snooping on $600 bank account transaction so what is the new number. >> it is 10,$000. what is the difference? if you withdrew 10,$000 over the course of an entire year which is not a lot of money your bank whether it is a big or small community bank have to report that to the irs. they are weapon ice. the white house says this is about going after the rich. >> anywhere they may get a w 2 is not what we are talking about. they are reporting their income. people who are high net worth individuals who are not paying the taxes they owe, something we think everybody believes should happen and can help pay for a range of important investments to make us more competitive. >> fixing the roof on your health doesn't mean you are rich but will help small businesses. stuart: let's get to senator scott.
they changed it from $600 to 10,$000. does that make any difference to you? >> know. if you make $5,000, and spent $5,000, they will go through that, that is 10,$000. they are going after everybody's money. if you want to raise taxes you can't raise them just a rich. it is the middle class, where all the money is. they will go after your pocketbook, that is what they want to do. if you think about it, this is what communist china does. they look at all my bank accounts. it is wrong. stuart: i am inclined to agree. thanks for being here. let's get to futures, not much price change as we run up to "the opening bell" it is a mixed picture, dow is down, nasdaq, shah gilani is with us,
nothing changes. the market shrugs off all the negatives. will that continue? >> obvious traders and investors are buying the dip, they were coming in on the last part of it. institutions chasing what retail has done going after stock that was bought up and paid up for and now we have the support of institutional investors following suit. i don't think that will change it. earnings are wonderful. we haven't hit peak earnings. earnings are the mother's milk of investing. they will be good so markets continue to go higher. stuart: where do you see the value in the market today. if someone wants to put new money into the market which area offers the best chance of a sharp capital gain? >> a lot of companies haven't
gotten back to their highs, they are undervalued and i like big tech. and the growth stocks, the cash flow, and they have high profitability, high earnings growth and especially top line revenue growth and there's a lot of stocks, a lot of companies across a lot of different sectors doing that. stuart: one of these days you will change your tune but hasn't happened for 10, 12 years. thanks for being here. i want to get to bitcoin. a cryptic tweet from jack dorsey. >> moving the market.
and and his company square mind. and to the general public. and there within striking distance of an all-time high. stuart: that tweet moves the market? >> it is one of the things in bitcoin's statement right now. stuart: i have a lot to learn. back to futures, not much price movement but we are in the green but only just across the board. the supply chain crisis is not a laughing matter the white house makes jokes about it. >> people couldn't get dishwashers, furniture, treadmills delivered on time not to mention other things. >> the tragedy of the treadmill that is delayed. stuart: the tragedy of the treadmill. that is sarcasm but with
respect to supply chain crisis should be treated as such. republicans running to be virginia's next governor putting education at the top of his agenda. >> the time for closed-door conversation and silencing parents is over.l boards be able to hide. stuart: lawrence jones is in virginia with the latest and he will appear with another wave after this. ♪♪ (engines revving, cars hitting one another.) (sfx: continued vehicle calamity.) just think, he'll be driving for real soon. every new chevy equinox comes standard with chevy safety assist, including automatic emergency braking. find new peace of mind. find new roads. chevrolet. dad, we got this.
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it will be a nice day from virginia through new york into boston. the republican in virginia's governor's race closing in on his democrat rival. lawrence jones, you interviewed mister youngkin, what did he say about education? >> reporter: last night i was at the candidate rally where he had a big turnout and the parents said the number one issue for them was education. >> as a parent i need to look for what is more important. >> our grandchildren are not being well served. i'm concerned with what goes on in the world and the school. >> they had choice, they don't have that. they get indoctrinated. >> our school board have been divergent to changing the names
of schools, changing the names of signs. >> we should have a say in our kids education. >> this is a referendum on people's rights to determine their kids education. >> reporter: some of those folks were for democrats is that i'm done with the party because they are trying to indoctrinate their kids. i had an opportunity to talk to youngkin but he addressed in his rallied a lot of this is going down behind closed doors. here's his reaction. >> i am unwavering resolve not just to fix this but to hold those who have failed our children accountable. the time for closed-door conversation and silencing parents is over. never again will radical school boards be able to hide. we need to harness our outrage as we take control from self interested politicians. >> reporter: that was
definitely a response to the former governor who says parents shouldn't be involved in the education process. you know the doj and fbi are trying to target parents for letting their voice be heard. stuart: on the screen we have the latest poll. 49-5 mcauliffe, 47-3 youngkin. if he wins or even comes close, that sets the alarm bells ringing all across the democrat party. >> i think so. there are multiple issue. parents across the country fired up but also crime. this is not just a big city problem in the demonization of law enforcement, a big issue for both.
and it will look too good for them. stuart: what is this about mcauliffe walking out in the middle the reporter's questions. >> 20 minute interviews for mcauliffe and youngerkin. young -- mcauliffe got half the time after he ended the interview and lashed out at the reporter. >> gave you extra time. you should have asked better questions. lauren: the questions were about vaccine mandates and crt. the real clear politics average of polls gives mcauliffe a 2.2 percentage point lead. this race is a referendum on president biden and the opening act for the midterm elections.
stuart: what did you say the approval rating has dropped to? lauren: 37% according to the quinnipiac poll. leo terrel, frequent guest on this program issuing a dire warning to democrats about the upcoming virginia election. >> biden won virginia by 10 points. mcauliffe is in a dogfight. there are black republicans voting for youngkin, black democrats voting for youngkin. stacy abrams, barack obama are in trouble if they lose virginia. you could tell the democratic party they are going to lose the midterms in 2022. stuart: a tight race in virginia and two weeks to go. check the markets please because we have a few minutes to go before we open the trading session. virtually no change across the
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stuart: not much price movement for the stock market but enormous price movement and the parent company of chile's and monday on oh, that is another chain, labor shortages entire food costs hit the company's earnings. there is some spill over to other restaurant chains like darden and the cheesecake factory. they are lower because they have the same pressures on their profits. david lefkowitz, let me start with what looks like a shrinking spending plan from the democrats. they may have gone down to $1.9 trillion. does the market care at all about that? >> the expectations the market has always had are that the plan would be around $2 trillion in spending and $1 trillion of tax hikes.
where the democrats are coalescing in this range of $2 trillion spending, that was what the market was expecting all along. from that perspective i don't think it is a huge market mover. the other thing i would say about these two bills is the spending will be over multiple years. the impact to the economy should be less dramatic because the covid relief packages which aim to get money in people's hands right away. a different impact than we see previously. stuart: what happens if we get tax increase which we've not detailed, if you get a raise in the capital gains tax or personal income tax rate, in the corporate tax rate, wouldn't that have some impact on stocks? >> we don't think so. if you look at the capital gains tax rate, the house proposal has it going up by 5%.
we looked at all changes in capital gains tax rates since 1950. there is no correlation with market returns and changes in capital gains. an interesting statistic, last time the capital gains tax rate went up was in 2013. what happened to the markets? the s&p 500 was up 30% that year. there is no correlation. it has an impact on the individual taxpayer and you take the right strategy to minimize your taxes where you can but in terms of markets we don't think, on the corporate side markets have been expecting 4% to 5% earnings drag and that is what we having our numbers. a lot of people are thinking along the same lines. stuart: remember the expression the market climbs the wall of worry?
all the negatives coming at investors and they have to struggle up and through them and that is what the market is doing successfully now. climbing the wall of worry and getting over the other side. >> a great characterization. look back at september, we had a 5% selloff. there were concerns about china, uncertainty in dc, supply chain of these are beginning to get resolved. earnings season is off to a strong start but china is not as bad as people fight and we are getting clarity and dc. we will continue to get more clarity on some of these issues that have plagued the market in the last several weeks. stuart: david lefkowitz still sees the s&p 500 getting to 5000 by the end of next year. a successful climbing of the wall of worry. you are all right, thanks for being with us. we have 30 seconds before we open the market.
various factors today. the slimmed-down deal from the democrats having no impact on the market and any proposed tax increases according to david lefkowitz will not have much impact on the stock market. there you have it. we have 10 seconds to go. we are looking to a little bit of green when we get the trading session going but i to remind you the dow industrials, only 0.5% away from the all-time high. up and running from the start, the dow, on the right-hand screen, up 24 points and an even split, winners and losers on the dow 30. the s&p coming in with a small gain, 0.8%. the nasdaq composite up 0.2%. look at microsoft, $309 a share.
in -- i own a terribly thin sliver of microsoft. netflix added 4.4 million subscribers and the stock is down 2%. >> reporter: they have to hundred million subscribers worldwide. the $4.4 million, deutsche bank cuts netflix and said we are enthusiastic about the new content but it is baked into the stock price. $142 million opening up the international expansion strategy bringing in the asia and european viewers too. what is left for netflix? what room do they have to run? stuart: there is another problem. they didn't expand their subscriber base in the united states. all they did was expand overseas. they saturated america and their best growth is overseas and wall street didn't care for that.
we are down 2.5%. >> i give credit for expanding overseas but you reach the saturation point and netflix might be close to it. stuart: $624 a share on netflix. nova fax plunging down 21%. lauren: the first ever vaccine was delayed. there are reports of manufacturing problems at one of their plants and failure to provide purity levels demanded by the fda. they will apply for emergency use by the end of the year but that is a 29% drop. stuart: what is this i hear about facebook changing its name? lauren: like out of that, the parent company of google, that is what mark zuckerberg wants to do, wanting to rebrand facebook a distance from these pr issues it is having among lawmakers and to reflect the meta-verse where he thinks the next phase of the internet is.
what will they call it? we could see a name change next week. one user on twitter says surveillance capitalism. i'm going with verizon. the parent company will be polarized in. stuart: surveillance capitalism. and look at forward, not much change but i understand there is a big investment firm that made a bet. lauren: credits lease credit this transition fast and furious to electric, a turnaround moment and they say there's opportunity ahead. live like autonomous driving investment in argot, shares up 75% already this year and they just announced $11 billion for the tennessee and kentucky, they are putting their money where their mouth is. stuart: let me see verizon. they reported earnings this morning, looked into the future and it was strong guidance for the future.
lauren: it was their best growth since 2019. they lifted their guidance because of the 5g deployment. investors like when a company is able to increase what they think they will see in the future. stuart: we have opened on the upside, the dow up 17 points, small gain for the s&p and nasdaq but tesla report after the bell. what should look for? lauren: i want to know if elon musk is on the call. he said i'm tired, busy, it is not by default. they are expected to report three quarterly profits in a row. we know the delivery numbers are up 70% but what does that mean for tesla's bottom line. can it get the chips it needs to make? revenue looking for $13.6 billion. stuart: how an investor in tesla -- i would be frightened if musk is on the call this afternoon. you never know what he is going
to say. neil: keeps it so buzzy. shares of $40 from all-time high which is 900. stuart: how about ibm. lauren: revenue is expected to rise $17.7 billion driven by the recovery in business spending so they can digitize operations. yesterday we told you about the acquisition, to boost their cloud offerings for their enterprise clients looking to digitize. stuart: old tech desperately wanting to be new tech. the dow winners, probably have to squint at the screen to read this. what is at the top? lauren: united health, verizon, salesforce, cisco, walmart. stuart: they have done well. s&p winners, what have we got? abbott labs. lauren: northern trust, biogen a we are seeing biotech. stuart: show me the nasdaq
winners. i to see big tech namely microsoft. is it on the list? what is the top? lauren: biogen, synopsis, cadence design, t-mobile. maybe they are doing well on the news from verizon. stuart: we don't have much price movement for the dow. it is up 26 points, 35-numfour-84. where is the tenure treasury yields? one.64%. that will big tech, big tech tends to flatten. gold doing nothing. the price of bitcoin is a new high. the old record was 64,863. 64,885, new high for bitcoin. oil, $81 a barrel, look at the average price of gasoline. that has gone up to $3.36. one dollar and $0.16 higher than a year ago.
lauren: it was $2.16, one year ago. every time gasoline prices go up it taps over $1 billion in spending. as we look ahead to the holidays and availability of goods and how much those goods cost, higher gasoline prices are taking away from your discretionary spending. stuart: that is wrapping up a financial coverage. a lot more coming later. the white house confirms it is sending planeload of illegal migrants to florida and new york in a dead of night. they are joking about it. watch this. >> why is the administration flying thousands of migrants from the border to florida and new york in the bill of the night? very early in the morning? >> we are talking earlier flights, earlier than you might like to take a flight. of one greg steube is on the show coming up. he has something to say about
me flights into jacksonville. megan mccain opens up about why she left the view. she calls in a toxic work environment. that is not all. we will tell you what else she's got to say. a new delta variance popping up in britain. is this the start of another wave? doctor marty makerry tells us after this. ♪♪ ♪♪
vaccinated $500 if they go to a city site for their first jab. let me look at the numbers. if you look the fisa farming, 60% have perceived at least one shot. for the police department it is 70%. we are looking at what could be severe consequences in a city riddled with crime. another city riddled with crime with the same vaccination mandate is los angeles. there deadline was today and they pushed that back to mid-december and are looking at the situation say our first responders, people we need to be working right now are raising their hand in protest against this vaccine mandate and we don't want to deal with the consequences for it. stuart: they backed off like southwest airlines backed off. there is a new delta variance the popped up in britain called delta plus. doctors over there calling for new restriction like facemasks and social distancing.
doctor marty makerry, what do we know about this very intent could be a new wave? >> we are seeing a lot of testing in the uk. they are picking up a lot of cases even though the hospitalizations are very low. we are seeing decoupling, i high number of cases that low number of hospitalization and death. there's a small bump in those numbers that got people concerned with this new variant which is a why 4 is when we don't have a lot of research on. we should have a delta specific booster, we don't. this may be the new endemic phase and how we need to adapt the boosters based on the very. stuart: that sounds serious. >> the good news is it does not have any evidence it is more transmissible than the main delta. it may not dominate the population but we see a high number of cases. the question is what is the endemic phase of the future virus going to look like and
can we prepare better? we had a delta booster defined for almost a year but we have a regulatory process that does not allow it to come to market just like flu virus each year. stuart: when you say the virus could be endemic does that mean it is always with us and will probably need a shot every year? is that what you are saying? >> it will always be with us but doesn't necessarily mean we will need a shot every year. delta may be the dominant strain for the next 3 to 5 years and it will have subtypes like the ay 4. if we have a booster specific to delta that could enable protection while delta is prevalent and delta may be prevalent longer and give more protection. stuart: the white house is saying they have enough vaccine doses for 28 million kids 5 to 11 ready to go once pfizer's vaccine is authorized.
do you think kids should get the jab? >> depends a couple factors and parents need to think about this by the first week of november, that is when we will get the answer and i expect they will authorize it for kids 5 to 11 and here are the factors. of the kid has had covid i would say no, i would pass on it. the risk-benefit is different for boys versus girls with boys, there's a risk of heart inflammation, usually mild but not always. usually mild. it happens in one in 9000 boys. in that situation i might recommend one dose for boys. if they get two doses, spread them out a good three months. don't need them three or four weeks apart because the trial was done that way and had the fda rubberstamped it. we when the are representing masks in schools after covid vaccines are approved for children. >> for preschool until high school graduation.
there are downsides to masking kids long-term so it needs to be calibrated whether there is an active, and surgical masks work better than cloth masks which may not work at all and when you get the background level of information you need exit criteria to drop these restrictions. stuart: sooner or later we just have to live through it. >> we have to learn to live with covid. stuart: i do apologize, next. if i get it wrong. how about this. novak djocovicz may not be able to play in january of next year. >> the virus doesn't care what your tennis ranking is. he won nine australian opens. he goes on to say, it is
completely irrelevant. they keep others safe so melbourne eases their lock born in existence for 262 days. either going to make an exemption? i don't think so. he's defending his australian open title. he's not telling us if he's vaccinated and doesn't think he has to. he will not say. their body is a temple and there is no close contact. what argument to improve their visas? stuart: a surprise to me on this. they clamped down almost anybody else in the world. it was freedom loving people. >> 9-month lockdown ends later this week. stuart: country music star doesn't like the vaccine mandate.
>> venues have different rules. that is hurting his fans. >> they are basically not warned about the mandates ahead of time. showed up at the gate and returned away. this is not about following the science and the safety of people there. this is trying to divide people. >> he didn't lash out on any city or state, it is the venue themselves. they don't know how to comply. i do 75 shows this year. stuart: i'm calling at the battle royal, prince william
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>> luckily we haven't been hit as bad, two factors are there, one is most of everything we make is made in america. the backlog doesn't strike us as much. and we treat our folks so well, we haven't seen much of a labor issue affecting the world today but every day i say i wish we could go back to simpler times we were in the studio and you were busting my chops over salary. stuart: we don't. if i get online, go to boxed today and order huge supply of paper towels. how long as the delay to get them? >> we are on those items. anywhere in 48 states, overnight or 90% in two days or
less. we feel good about that supply but there are aberrations. we get cut short by the manufacturer but there is in the same level at least on boxed, the same the way you would have seen earlier in the pandemic in 2020 but it is roving. people are saying i've been in this industry 34 years, never seen it as bad. we are not immune to that am lucky to hold our own. stuart: we've been giving you commercials for 10 years and you gave yourself another one right there. >> we are going public. >> i promise you could come down and ring the bell with us. we will see you at the stock exchange. stuart: you got a deal. we will see you soon. big show coming up. aig steube, nigel farage, martha maccallum, we will be back.
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with chase security features, guidance and convenience, banking feels good. chase. make more of what's yours. ♪. stuart: good morning, everybody. 10:00 eastern, straight to your money. start with the stock market. dow up 91. nasdaq up a fraction. here is the action. record high for bitcoin at 65,963. okay? new high right there.
oil $82 a barrel. the average price of gas bonn up another 2 or 3 cents overnight. 236 for the national average. 10-year treasury the yield is going up, the highest level since may actually. we're at 1.64%. haier interest rates and new high for bitcoin. not much movement for stocks. the virginia gubernatorial election is the canary in the coal mine, an indicator of the state of politics. it is important. it is both a referendum on joe biden's press den aa pointer to elections next year. in terry mcauliffe loses alarm bells will ring throughout the democrat party. the election is very close. the republican, glenn youngkin made education the big issue. the mcauliffe played into his hands telling that i don't think parents should tell schools what
to teach. that cleared up a morning hornet's nest. those parents are not happy with being label domestic terrorists. suburban women like those in school board meetings played a big part in electing joe biden. those same women are challenging biden's woke racial policies. the virginia election reflects national issues. its is a must-win for the democrats. mcauliffe is calling in the big guns, obama and vice president harris. mcauliffe is getting test at this. he angrily cut off a reporter who asked a question about vaccine mandates. in desperation he rehashes the past. it adds up to the same thing here, donald trump, donald trump, donald trump. glenn youngkin is on a roll. the latest poll shows him two points behind. that is very close. the democrats are very nervous. the second hour of "varney" just
getting started. ♪. stuart: liz peek joins me here in new york city. great stuff. >> i love being here. stuart: how much is this a must-win for democrats the virginia election? >> it's a must-win. they may indeed win. biden won the state by 10 points. this is definitely bluish state but the interesting thing is democrats will be freaks out no matter what. "new york times" call it unexpectedly close. you call it canary in the coal mine. this is polling interesting. emerson poll basically shows it a dead-heat. what is interesting, the suburbs, talk about suburban women, biden won 54% of suburban vote, 46% for trump. it is 49 in youngkin in virginia, 48 for mcauliffe.
that is pretty stunning. stuart: 49-48 overall? >> yes. hispanics youngkin leads with 55% of the hispanic vote versus 45% for mcauliffe. and yes he has definitely a deficit in terms of women but it is not anything like what biden had. i mean biden's advantage. talking about pulling in the big guns, interestingly now biden is underwater 3 percentage points in terms of approval. 39% of voters in virginia say less likely to vote for mcauliffe if biden comes to campaign for him. kamala harris way underwater in virginia and nationally. no matter who wins this race, this is really bad optics for democrats. i think the, you know, youngkin is wanting to make it about schools, about basically biden's standing and mcauliffe wants to talk about trump.
nobody cares about trump at this point in virginia. on abortion, he is pushing this very hard but the numbers on abortion in virginia are kind of like they are nationally. people want limits on abortion this is one place where democrats have gone way crazy, wanting full-term abortion, no restrictions whatsoever. that is not where people are generally in this country and it is not where virginia is. so i think on a lot of these issues mcauliffe loses. stuart: whoa. >> yeah. stuart: it is a very big deal. >> it is. stuart: quickly back to president biden. i see his approval rating is way down. in a few days he is not going to glascow for the u.n. came mat conference. he is sending 13 officials. >> everybody else is. stuart: everybody else is. this is the last chance to recuperate the support from greens. he is in a difficult position with climate too. >> joe manchin says we're not putting a green new deal shrug in the 3 1/2 trillion dollar
bill. won't be 3 1/2 trillion on this hopefully. if he wants joe manchin's vote can't put the power plant part in the bill. this war on fossil fuels biden is waging, it is not popular. it is not good for americans. 13 people going to glascow in the midst of a global energy crisis. why? the wind stopped blowing in the north sea. that is literally a fact. is anyone donning the reality hat saying we can't do these crazy things? stuart: it won't look good for him in the polls. >> i don't think so. stuart: start spending trillions of our money over there. it won't be good in the polls. >> gasoline prices through the roof. stuart: you made your point. thank you very much indeed. vice president harris claims the massive spending bill is critical to fighting climate change. what exactly did she say, lauren. lauren: spend trillions right
now to protect our future. here she is at lake meade in nevada. >> look where the water has receded. that space is larger than the height of the statue of liberty. in just the last 20 years. this is where we're headed. so let's get these bills passed. we have the ability to actually benefit future generations and be transformational in a way that will not only be about life but about this beautiful planet. lauren: she is doing pr for the reconciliation bill. it allots money for water recycling, drought contingency plans. democrats need something to carry in their suitcase to carry to the u.n. climate conference in two weeks. stuart: yes they do. i'm not laughing, lauren. i think it is funny. i want to bring in bob doll to change the subject completely.
bob, bail me out of this. what do you think of this shrunken spending package, 1.9 trillion. >> 1.9 trillion. can you say only and trillion in the same sentence, stuart? i'm not sure. the market is saying 1.9 is better than three. would still like a lower number. the market is i think really moving on earnings coming in better than most of us expected. with the economy weakening, stuart, in the third quarter many of us thought the number of surprises would be fewer and companies would have more concerns in their forward statements but not the case. earnings are quite good. the ability to pass on cost pressures in the form of price increases is reasonably good and supply shortages they're deal with it. it is not all roses but better than a lot of people thought definitely taking the market higher last week or two. stuart: dow stock market guys get a little nervous when you
see bitcoin go to a new record all-time high? >> my view is that in part a view towards speculation. and when you get speculation somewhere it does make concern. there is so much cash sloshing around the old tina, there is no alternative. people buying more stocks. i buy bitcoin too, it is going up, let me take advantage of it. stuart: got it bob. got to leave you. i have to get to other stuff real fast. always good to see you bob doll, thanks a lot. we're looking at some of the movers including brinker, the restaurant chain. we recorded this earlier. they got hit with a the supply chain. lauren: this is sign of the times. earnings are being hit. supply chain, commodity shortages, labor costs. you not only have to pay the worker more money but pay to
train them as well. we're looking $175 more a month on food right now. do you also spend money to eat at chili's, name the restaurant, where menu prices have gone up? stuart: fair point. brinker is the parent company of chili's and mangano. down 10% on the stock. wd 40. lauren: same story. weak earnings. distribution costs. commodity costs lingering to the first half of next year. stuart: that stock down 6.8%. big drop. biontech up. lauren: they have their vaccine with pfizer and the white house said just now once the vaccine for kids younger than five is approved it will be available at pediatrician offices, pharmacies and. there is no government wide mandate but the cdc says we highly recommend you vaccinate your children. if you do we highly recommend
they wear masks all day in school. stuart: masks all day in school from the cdc even if the kids become vaccinated. lauren: speechless. stuart: as mother of three. i'm sure you are. lauren: masks are a problem. i support keeping everybody safe but if you don't have an outbreak in your community and the parent are okay with not putting the kid in the mask they should have that option. stuart: i think so too. this one for you too. morgan stanley says spacex's starship rockets could boost elon musk's wealth even higher. how much are we talking about? lauren: he could be a trillion nair. he is at $240 billion. adam jonas at morgan stanley everyone pays attention to tesla boosting his net worth. look at spacex. the starlink internet satellites that beam internet across the world. reusable rockets. all the trips to space will double spacex's valuation from 100 billion to 200 billion and with that, elon musk's net worth
can go up five times to a trillion dollars. stuart: but they're not public yet. spacex is not public. part of the overall musk operation. lauren: it is only 17% of musk's worth right now so. stuart: the world's first trillionaire? please. lauren: wow. stuart: had to be elon musk. lauren: of all people. it would be fun to if he get it, what he would do with it. stuart: jen psaki makes a joke addressing concerns over the supply chain crisis. martha maccallum takes that on in the 11:00 hour. senator ted cruz says it is time for democrats to the face the disaster of the their open border policies. watch this. >> my bill designates newports of entry, rich democrats can be sitting there, see, suddenly, 10, 20, 30, 50,000 illegal immigrants like we're seeing on a daily basis. stuart: he wants to send the migrants to palo alto or
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the dow is up 107 points. that puts the dow so close to record high. bitcoin hit a record high this morning. you're at 65,899 as we speak. proshares, the first bitcoin futures etf, they started trading yesterday. they were up yesterday. they're up another 3% today. cryptos hot. u.s.-mexico border arrests reached highest level since 1986. more than 1.7 million arrested at the border in fiscal year 2021. which ended in september. 1.7 million. mike tobin is there. he went on a exclusive ride along with texas troopers last night. what did you see, mike? reporter: i can tell you what we saw absolutely reports the record numbers. "washington post" reports that the 1.7 million figure ties 1986. surpasses 1986 slightly. what we saw supports the volume
of people coming across. they started showing up just before sundown last night. the first group of migrants we saw slipped across the river. they found a gap where the wall is incomplete. they walked through the brush. walked up small roads here to the ball field where they thought they would get help from the border patrol. the first group was comprised of people from honduras, nicaragua. single adults and families. the babies were covered from head to toe with bug bites. everyone was dirty and thirsty. one father with a 10-month-old, told of walking hitching rides for 20 days. unaware if they could make it, unaware if they could stay. hopeful for a better future. >> translator: mexico city they board ad trailer that had no ventilation. people were passing out. they couldn't breathe. they were in it for two hours. and that, that what bottom them worried about their daughter's safety. >> we suffered hunger, thirst,
threats, danger. we all suffered sleeping in warehouses to make it to this country where everyone is free. reporter: a source with border patrol tells us the families will be able to stay. they will get a notice that will appear at a later date. the adults made the trip in vain citing health risks, sent back to get on "the washington post" reporting, that they report 61% of those who made the trip across and made contact with u.s. authorities were sent back but all of this doesn't count the getaways, or got-aways. groups of family with spread out across the border. the people between them, runners, slip across the border, not be detected for any number of reasons. those runners, there are some of them. the border patrol gets busy with the group of families, they're simply overwhelmed. you have a lot of people slip across the border with the u.s. they never make contact with the
authorities. stuart. stuart: mike, my heart went out to some of those people you described there. people traveling with babies for weeks on end. your heart goes out to them. how do you solve this problem? mr. tobin, great report. thanks for bringing it to us. >> thanks. stuart: the white house confirms reports that migrants are being flown in the dead of night to new york and florida. watch this. >> why is the administration flying thousands of my grants from the border to florida and new york in the middle of the night? >> well, i'm not sure it is in the middle of the night. let me tell you what is happening here. >> we have very early in the morning. >> early flights. earlier than you might like to take a flight. recent weeks unaccompanied children passed through the west customerser airport what you're referring to, final destination to be unified with parents or its sponsor. stuart: congressman greg stuebe, republican of florida. joins me now. congressman, what impact does this have on your state,
florida? i guess you have to pay for these arrivals, do you not? >> well we do. it will be a significant toll on medicaid, on our hospitals, on our health care facilities, on florida's resources because they're shipping them to our state, mind you without the approval of our state leaders. you have congressman like myself asking where they're sending all the people. we're finding out through investigative reporting where the individuals are coming. there is no surprise they're sending a lot of individuals to swing states, virginia, pennsylvania, florida, texas, it is not a surprise that is happening because their thought process let's violate federal law, let all the illegals come in and pass hr-1 or s-1 give them the ability to vote without i.d. or citizenship. stuart: congressman we had a report from mike tobin on the border, families hiking through mexico three or four weeks, hiding in trailers with babies
covered in bug bites, your heart goes out to these people. how do we stop this from happening in first place? >> you have the remain in mexico which should being followed by the administration which is being ignored after a supreme court ruling on the issue. these individuals should have to stay in mexico not do all of the challenges that these trips ensue to their health and welfare especially for young children, why their cases are heard and prosecuted. 96% of which are not going to be approved and sent back to the host country. the safest thing for those families to do remain in mexico while the case is prosecuted here in the united states, there is determination made whether they are allowed entry or not. until then they shouldn't have to go on these long journeys, the health and safety and welfare of these young children to protect their families. stuart: terrible thing. congressman stuebe, thanks for joining us this morning. difficult issue. glad you dealt with it. >> thanks for having me. stuart: the president's pick to lead the border protection organization, that pick refuses to to call the surge at the
border a crisis. lauren, what does he call it? lauren: his name is chris magnus. he says it is significant challenge and offers no solution. >> do you believe we have a crisis at the southern border, yes or no? >> senator i, i'm not sure does it really matter whether we call it a major challenge, a crisis, a big problem? i think -- >> i think it speaks to a level of urgency. do we have a crisis at the border, yes or no? >> senator, let me assure you that no one believes there is greater urgency to this matter than i do. lauren: reporting that through august more than 1 1/2 million apprehensions happened at the border, 1.5 million this year. for all of last year the number was 58,000. stuart: good lord. lauren: that was a grilling magnus had before the senate finance committee but he doesn't need any republican approval to get through. so he will likely be approved as
head of customs and border patrol with no republican support. it would be fine. he would not say we have a crisis at the border. stuart: he will get the job because he didn't say there is a crisis at the border. can't say those words. thanks, lauren. "the washington post" wants you to stop complaining about the supply chain crisis. suck it up. we have the headline for you. >> meghan mccain breaks her silence about working on "the view." roll tape. >> you are targeted if you're the token conservative. you are treated differently. interesting having my book excerpt released today people don't really be surprised at all. stuart: to repeat, she says she was targeted for her conservative values. we'll deal with it next. ♪.
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blackstone. full disclosure, i own a small sliver of blackstone. lauren: up 1.3%. the journal is reporting that blackstone took a majority stake in spanks. that is the revolutionary company for will's wear. keeps everything in where it needs to go. spanx started this company 20 years ago selling fax machines. what will you sell. blackstone takes a stake. stuart: this lady is very rich. lauren: bottom line she is very rich. stuart: microsoft hit $310? lauren: no, it could be the third record close in a row. the new high is 309.70. 30 cents shy of 310. maybe tomorrow. stuart: still plenty of time left in the trading day. i never bought stock in
winnebago, never bought one either. lauren: this is interesting. they really blew it out of the park when it came to the earnings report. the issue, winnebago, despite big demand they're charging higher customers and i guess customers are balking. this was a winner earlier at the opening bell on the heels of a solid earnings report and big demand, when you say costs are going up, increasing prices for customers, sometimes they don't like that. stuart: winnebago down 2 1/2% as we speak. google released des on the brand new smartphone. lauren: the name of the phone is pixel 6. this is the called the tensor chip. it is really cool. if you take a video, picture something in the background you don't like, it is like a magic eraser, you can move that item. the price tags are pretty good. one version starts at 600. the higher end at $900.
they hit store shelves at end of the month. android is popular around the world. not a lot of people have google phones. magic eraser, voice dictation, live translation, other things that are powered by the chip compel people to buy a google phone? stuart: we shall see. we don't know at the moment. there are not many google phones out there? lauren: android is 3 billion devices around the world n terms of google phones, especially here in the u.s. not popular. stuart: never seen one. thanks very much, lauren. meghan mccain spoke to sean hannity why she left what she describes at the toxic work environment at "the view." >> you're targeted if you're the token conservative. you are treated differently. interesting having my book excerpt released today, people don't seem to be surprised at all. it is all very personal. that is the thing, being conservative women in mainstream media is deeply threatening. i felt like the toxicity got worse and worse. the more successful i was on
"the view," more moments i got them, pressed liberal candidates on the show, the worse it got for me backstage. stuart: that is a real challenge in today's environment. brent bozell joins us. it's a challenge to abc. do you think abc will make any changes, bret? >> no. this is the culture of abc. it is interesting, maying began mccain is not a conservative. she is token conservative so far as abc is concerned. her predecessor nicole wallace was is a liberal, now at msnbc. elizabeth has bell beck is the last true conservative. in a way it doesn't make difference. meghan was the token conservative. they opened up on her. these are discussions, mostly debates. they were assaults on meghan mccain. even worse they were personal attacks constantly hurled out. like whoopi goldberg. she compared trump to mengle.
to the kkk. whoopi goldberg, remember the famous statement about mike pence that his christianity was a mental disease. the attacks on pro-lifers, went after them, calling them the taliban in texas. these were the kinds of vicious ad homonyms that meghan mccain had to put up with. in a debate, she had one arm tied behind her back because they were hurling personal insults at her and she has got enough class not to respond that way. she didn't. so it must, i don't care how much they paid her. it must have been hell on earth for her to be backstage dealing with these people. stuart: they will not change. next case, brent. liberal media seems to be turning on president biden. msnbc's stephanie rule called out the president's claims about build back better, the plan that is supposed to cost zero dollars. she called it out.
we've spoken about this before, brent. is it correct to say that biden's honeymoon with the media is either over or certainly winding down? >> not quite. not yet. i think there are some stories because they can't avoid it. afghanistan, they couldn't avoid it. the statement that he made about $3.5 trillion costing zero. these are horrific developments but look, it is quantity and quality that we're talking about here. let's talk about quantity for a second. fox news is either making up situations or it is reporting the truth. every single night there seems to be a new development with this assault on america from immigration where hundreds of thousands, maybe we're in the millions now are coming across the border illegally with one twist and turn after another. you won't see that reported. it might be one story on a network and it is done. that is what they're doing. what about all the stories on inflation? notice who is not complaining? the biden administration is not complain about the media.
here is an interesting tidbit. by this time in his presidency donald trump had done 50 one-on-one interviews with media that hated him. with obama it was 100. you know how many biden has done? 10. when he does a press conference he doesn't take questions from the press. he leaves. biden is not complaining that much. he knows they could be much, much tougher. they know they could be much, much tougher simply reporting the truth. either they are not doing a good job or fox news is not doing a good job. either they are not covering it correctly or fox news is not covering it correctly. fox news is covering it correctly. stuart: thank you, brent. i'm glad you got to that. brent, thank you very much, sir. >> thank you. stuart: we have a restaurant so desperate for workers it is paying students do to homework during their shifts. they get a bonus for good grades. we will tell you where that is
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stuart: right, the dow is now up 159 points, 155 to be precise. that is just 20 points shy of its all-time high. if the s&p keeps on going at this pace it too will occupy, take a new high by the end of the trading. we talk a lot about the supply chain crisis. it affects your christmas plans. might hit you sooner like in the thanksgiving dinner. madison alworth at a turkey farm in new jersey. madison, you're surrounded by turkeys. you're not about to tell me there is a turkey shortage, are
you? reporter: i am, stuart. there is not a shortage here, they have 2500 turkeys like they always do. it is not about the farms like this but at grocery stores we're seeing shortages. as you know we're seeing empty shelves, that will not change before thanksgiving. it could be hard to get the turkey. they're turning to turkey farms and other farms like this. i'm with the owner ronnie. you start orders beginning october but usually roll in november. what are you seeing this year? >> come in slow, as a trickle. but soon as november comes in oh, yeah, i need a turkey. they're doing it early this year. they are really coming in. reporter: you have return customers, new customers too. what are they saying why they're coming early. >> lot of new turkeys, making sure they get the size they want. reporter: the size is the key here. grocery stores are only getting 40% of the inventory they order
on to the actual shelves. issue with turkeys we could see this year is the size like ronnie was saying. grocery stores, farmers, they order the turkeys at beginning of the year, think january or february. at that time last year we were still really in the depths of pandemic. we were still having, very little access to the covid-19 vaccine. people had to decide will we have big gathers. as you know we are having them. people are ready to celebrate. you might get the turkey. getting the right size will be harder. if you're hoping to get the big turkey, go to the grocery store month in advance, buy a frozen one. order from place here. stuart, there are so many turkeys out here i can pick one out for you. how would you feel about meeting stuart for thanksgiving dinner. stuart: don't do it. reporter: he doesn't want to go home with you, stuart. stuart: i will remember that. madison, see you real soon. stuart: what are you laughing at? lauren: what the turkey had to
say. stuart: the idea of me being rejected by a turkey? what does that make me. lauren: people want bigger turkeys this year for thanksgiving. they want the whole family over for thanksgiving dinner. sam's club is selling turkeys and everything. stuart: something completely different. lauren: not that turkey. stuart: "the washington post" criticized for their op-ed which calls for americans stop ranting about staff shortages, supply chain issues. apparently they're saying more than that. lauren: americans are great innovators, provided access, speed, low prices. we got used to that. think of black friday, how does that happen? because of our great companies and our tech ability. it has now changed "the washington post" columnist says, time for more realistic expectations american consumers expectations pampered for
decades. not accustomed to you inconvenience. inconvenience? not having a turkey for thanksgiving? spending $175 more a month for food for the american household. christmas gifts in jeopardy? those are american traditions. stuart: apart from which. don't be critical of america's brilliant efficiency. america provides cheap food, great transportation, and has for years and years. because it breaks down, don't criticize america. don't do that. lauren: we got used to that. when is the last time you paid full price for something? you don't have to. stuart: go for discounts. lauren: fewer discounts these days. stuart: on a similar note, labor shortages, 21 police officers in chicago put on no paid status because they refoust to get the jab. the number could go to thousands china launched a supersonic missile harder to trace and harder to stop.
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very close. editorial in the "wall street journal" warns that china's hypersonic missile testing is a wake-up call for america. kt mcfarland joins me. what do you think is china's global, does china have global ambitions? i guess they do. >> you bet. their plan is to replace the united states as the dominant world power, dominant militarily, economically, technologically, politically, diplomatically. once they have done that, they rewrite all the rules to their advantage to our enormous disadvantage. they used to think they would get there by mid-century. they moved ahead the timeline. they think they're there within the decade. stuart: what do you make of that? global domination within a decade. that sounds farfetched to me to be honest. what say you? >> if you start putting the pieces of the puzzle together. the hypersonic weapon, that thaa game-changer. that gives china, not other countries, only china the
ability to deliver conventional or nuclear weapons to the united states anywhere else without be seen or without being stopped. that is critical. stuart: can't we do that? >> no. we can't do that. we have some -- here is the thing that so frustrating about this, stuart. we developed this technology. the hypersonic technology and what happened? the obama administration, they canceled the program. thought it would be too provocative. so the chinese took information publicly available, then they developed this weapon. they're ahead of us. we'll try to catch up but it's a whole game-changer technology and one we didn't see coming. what we spent a billion dollars on the u.s. intelligence community for. they didn't see the taliban coming. they didn't see afghanistan. they didn't see the hypersonic weapon. what are they doing? investigating american teachers. stuart: is this just xi xinping's idea? it is all built around him? he will be the master of the
planet? is that just him? >> stuart, sadly, i can't hear but i can see you and i just want to say one thing. i was feeling really blue about america the other day and i watched your program, america built. look we can do this, we're a terrific nation, thanks for showing us. stuart: i don't know if you can hear me now. nod if you can hear me now. okay. hold on a second, kt. i will try to fix it. i will segue to lauren who is on a similar subject here, asia. lauren: yeah. stuart: north korea has confirmed yesterday's ballistic missile launch. it was from a submarine. that sounds like a breakthrough for me. lauren: had a lot of advanced control guidance technology. this is way for north korea to get past the missile defenses, what kt was talking about our allies, u.s., japan, south korea. if it is being fired under the water we can't detect it as well
if we can at all. the only positive if there is a positive here is that those submarine missile launches are only as good as the vessels that carry them are and north korea has some improving to do. stuart: i don't know how many countries can launch a missile from the submarine. i know americans can. not the russians. north koreans can do it, maybe the submarines aren't very good, if you can launch a missile from a submarine that makes you maid of the game. lauren: someone can give them a submarine. stuart: let me tell you what is going on with the market. dow up 160, nasdaq up 30. the big story of the moment, bitcoin which reached a record high of $66,000. kt is back, a separate subject for a second, kt, russia held talks with the taliban today in moscow.
the u.s. was invited but we turned down the invitation, did not go. how closely should we be watching these talks, taliban, moscow. what is going on? >> look the taliban is now looking for new friend. it is looking to russia, to china, to pakistan. i don't think we belong in the middle of that mix. there is not one taliban, stuart. there are about five of them. they will devolve into civil war with each other. i don't think we need to be in the middle of that. if russians have their taliban tribe, chinese has their taliban tribe. pakistan has their taliban tribe. we don't need to belong in in te middle of that. we need to get the rest of the americans out, rest of people that helped us out, and sayonara to afghanistan. stuart: that for the plug to my show, "american built." thanks very much indeed, that was very kind of you kt. you will be back. that is a promise whether you
can hear me or not. kt mcfarland coming back. here is what is still ahead. martha maccallum, jason rantz, u.s. senate candidate from arizona, blake masters. nigel farage. back to the battle royale, prince william versus prince harry. a cultural battle between traditional and woke. who is win? "my take" at the top of the hour ♪. if you wake up thinking about the market and want to make the right moves fast... get decision tech. for insights on when to buy and sell. and proactive alerts on market events. that's decision tech. only from fidelity. ..
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so you only pay for what you need. oh, yeah. that's the spot. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ >> this more on fossil fuels that biden is waging is not popular, not good for americans, will anyone donald reality had and say we can't afford to do these things? know. >> what this is is going to cause more inflation, have a supply chain problem, why don't they solve those problems before we spent another $1.9 trillion that we don't have? >> economies holy, earnings are wonderful, the mother's milk of investing. they will continue to be good so markets should continue to go higher. >> earnings are quite good.
price increases are reasonably good and supply shortages, it is not all roses but better than a lot of people thought. >> last time the capital gains tax went up was 2013. what happens in the markets, the s&p 500 was up. ♪♪ >> so embarrassed. stuart: i am shocked. 11:00 eastern on this wednesday october 20th. i will show you the markets. the dow is up 150 approaching a record high. the 10 year treasury yield has moved up to one.64% but the real story is bitcoin. we have a new record high, 66,869. all the cryptos are up today.
now this. i am going to call it the battle royale. william in london, harry in california. it is a cultural battle, traditional reserve william, brash, woke harry. and his fight william is winning hands down. that is just my opinion as an american citizen who hasn't been in london in 30 years. for a start william's popularity is rising. he's a climate guy like his dad, prince charles, he going to the glascow climate summit which breaks the tradition of oil staying out of politics. he doesn't care. the brits are very green and they supported stand. it helps that he comes on as a classy guy with a fine family. in the pr world he's the champion royal, after the queen. harry is something else. he has escaped the palace, said he could be a media star in santa barbara but his mediastinum has faded. the reviews for his work have been scathing and generated
very little interest. it doesn't help that his wife, the duchess of sussex, implied that the 95-year-old queen, harry's grandmother, is a racist. william save the planet, harry talks to oprah. in the scheme of things this is insignificant. william versus harry is not going to make a difference in our lives but it is a story of our time and how it plays out will tell us a lot. i think harry and megan's wokeisam descended them into irrelevance like harry's great grand uncle edward the eighth who abdicated the flown -- thrown and fled to paris. william will become the king of england. even in the 21st century that is relevant. third hour of varney just getting started. i asked martha maccallum to join us.
she has been following the wheels for years covering royal weddings and everything else. i made the judgment that harry is becoming relevant. do you share it? >> so interesting watching you laying all of that out because i always felt harry and megan are the modern day edward who abdicated the throne. if he hadn't abdicated the throne you never would have had queen elizabeth for the last almost 7 decades. things have a way of happening and unfolding as they should. harry took the prince edward route and he and his american wife left and went to the united states which -- they become interesting dinner guests who hang out in other people's villas. i think that is what you will see megan and harry do, what happened, the oprah interview was all they had. that is the story.
in that moment they spilled their guts, but hollywood is like what else have you got? give us some more stuff and they are saying we want to talk about doing nice things for people and feel-good stories which aren't doing that well. they have podcasts out there and it turns out the oprah thing, the rest is pablo. that is the problem they have. on the other hand william is doing a great job carrying on the mantle and he is about service. the other two are about serving themselves. william is trying to serve as queen elizabeth always has for 7 decades something higher than herself, something that matters to her and matters to them and that is why it works out. when you put something before yourself people get it, they know what is happening and they are not impressed. stuart: the most astute royal -
>> i think the queen is going to be home for a few days, they took off at her but she was taking and it was particularly relevant to think about that. her mother lived to be 103, queen elizabeth is 95, quite young. stuart: you are way up on the news. let's turn to something that is much more relevant to our lives. jen psaki cracking a joke about the supply chain crisis. watch this please. >> crystal clear things were not improving. it is furniture and treadmills delivered on time and all sorts of other things. >> the tragedy of the treadmill is delayed. stuart: a little humor there but this is a real crisis in america, the supply chain thing is relevant to our lives, don't think she should be making jokes.
>> is what happened with the supply chain problem. companies can't get the stuff they need to build the things in america that they need to produce so they are not able to run their businesses. everything is more expensive for companies across america because they don't have the supplies they need, it is backed up in ports in california. it's not about telethon treadmills that american companies that have short supplies to fill the orders that they have. everything gets backed up. their profit margins shrink day by day by day. people can't get what they want. this is about the american economy, its ability to exist. this is a problem we have known about for months. we've seen this on the horizon, it is a hands-off sort of we are talking to the stakeholders stuff and having listening sessions. stuart: and blaming private enterprise. where is pete buttigieg? what is he up to? not much.
it is a relevant crisis. as opposed to -- >> step in at this moment like ronald reagan with your traffic controllers, say this is the role of government. we need to make some changes, bring in the national guard and get these things in trucks and move through you will see a difference in the next six weeks. incredible opportunity for success. stuart: if trump was still president he would have a bull horn on the la docs. thanks for being with us. we will watch 3:00 eastern. the story is the show, with martha maccallum. we have 10 million job openings at the same time we have a worker shortage. mark tepper has something to say about this. what does this tell you about the mindset of american workers? >> it is kind of toxic. it takes 66 days for a behavior to become automatic and the
behavior in this case is not a good one. seems like there's a pretty large number of people out there sitting on their couches, pouting about going to work longer than 66 days and i have been hearing this a lot. i'm not going to work for that. that is not a living wage. you owe me more. nobody owes you more. that's a toxic way to think. there's nothing wrong with wanting to make more money. we all want to make more money but i have a big issue with the whole you owe me more money mindset because you are paying with your skill set was no business owner should have to overpay people without the skill set to back up the compensation. small businesses 51% of them are struggling to fill jobs. that is the highest number ever and this is a problem for society, our economy, for businesses it is not a good look for these individuals as relates to their integrity. stuart: i read your stuff and you are saying this earnings season we see a lot of would have, should have, could have. what do you mean by that?
>> i expect a lot of companies to say would have should have could have with regard to supply chain issues and inflation and a lot of the companies we heard from our financials so they don't have a lot of those issues but in the next few weeks, you will hear more about that and unfortunately for companies that are on earnings, they are getting whacked so the markets penalizing companies that miss four times more than it is rewarding, but at the end of the day it will be a solid quarter. over the last 18 months it is a rising tide has lifted all boats so just investing in the index worked very well for investors but i do think over the next 12 to 24 months you are looking at more of a stock picker's market so more important you do your research, your homework and figure out where to invest your money. stuart: that is interesting. for many years you bought the index, you bought a rising market.
now, a bit more picky, look at the stocks individually. you are all right, thanks for joining us, see you soon. i to talk about telethon. the stock is up. lauren: their high was $170. nonetheless, there are reports circulating that they are seeing big demand for their government ahead of the holidays, that is very welcome news for investors looking to take that stuff back up to 171. stuart: i hear some of the airlines saying they're getting a lot of booking. lauren: united said thanksgiving, christmas and hanukkah bookings are surpassing the 2019 levels so we are back at the pre-pandemic level so shares are only a third of one% because they are going to increase airfare. why are the increasing airfare? jet fuel costs more money.
they have so many other costs they are passing on to customers. stuart: show me micron. it is a mover, 2%. >> it is good news. a memory chipmaker, the supply crunch is getting better, to $150 billion in the next decade and they hope congress helps to something about this chip issue, do something, the first time we are seeing governments have real-life examples how chip shortages affect their economies because they are used in so many products. stuart: micron saying the chip shortages getting a little better. that is a break. covid cases soaring in britain, some doctors talking about return of restrictions. nigel farage has a report from london. country star travis trip canceling shows in venues that require proof of vaccination.
he says he is standing up for freedom. dozens of police officers and firefighters retune -- return their boots in seattle. they were fired for refusing the vaccine. mandates are about power, not public safety, he is next. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones ♪ ♪
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this halloween, xfinity rewards is offering up some spooky-good perks. like the chance to win a universal parks & resorts trip to hollywood or orlando to attend halloween horror nights. or xfinity rewards members, get the inside scoop on halloween kills. just say "watch with" into your voice remote for an exclusive live stream with jamie lee curtis. a q&a with me! join for free on the xfinity app. our thanks your rewards. stuart: chicago, 61 degrees and sunny. nice sunny places all over america. you are bound to look at seattle, some of seattle's first responders turning in
their boots, symbolic gesture after they were fired for failing to comply with the vaccine mandate is one trooper said officers of lost faith in washington state. role tape. >> guys that quit before they had five. hundreds of people have been vaccinated, lost eight in this state. seattle pd guys the same way. stuart: a seattle guy on the show, we are talking officially a couple dozen first responders. weren't there more than that? >> a lot more. the city said they were firing six seattle police officers which is a dishonest number. 100 sixth avenue rivers, 99 of them are officers placed on the hr unavailable lists. they are on extended leave.
they are the ones who asked accommodations to get out of the vaccine mandate in the city is pretending they are figuring out what to do with them but accommodations were denied. we were taken off the streets 109 officers today. and that is happening at a time where the city of this size dramatically understaffed. we know how fewer than 950 officers who are deployable, this is a catastrophe. stuart: is there any chance the city will withdraw this mandate a reason upon it and give extra time because if you have violent chaos in seattle because of this, the authorities will be under great pressure to ease up a bit on the mandate. could that happen? >> is there any indication?
she made this decision knowing we are in the middle of a surge of violent crime. last year is a 26 your homicide rate. we are at the same number. we are low by one or 2 murders this year. we will hit that or exceed it. the county had a historic gun homicide rate already. she's making these decisions while already knowing we are understaffed and don't have enough police to go after the violent crime rate. stuart: don't know if you saw this, the supreme court refuses to overturn the vaccine mandates. there is no offramp here, seattle is heading towards a real catastrophe. >> state workers getting rid of governor jay inslee's vaccine mandate. they sought injunctive relief,
it is unlikely to win if it goes further. they will push forward and it gets to the supreme court here which is dominated by partisan democrats. i don't see them overturning any of this. the reality is we might need to hit a rock-bottom we didn't think we could hit in order for us to change course. even on the state level you have 127 washington state patrol staff members, the vast majority of them are troopers which ended up losing their jobs and that is a state agency that has 80 or 90 offices they needed to hire before this. we are truly headed into uncharted territory. stuart: there must be something in the water. always good stuff. the country star travis trip canceled his concerts over covid restrictions. what is his complaint.
ashley: he's taking a stand when it comes to restrictive covid protocol canceling four upcoming concerts. vaccination, testing the mask mandate. tucker carlson's show the singer called the covid restrictions discrimination. >> this is trying to shame people, to basically discriminate against people that they don't feel are clean enough to be part of enjoying a concert like that. i felt i had to stand up for freedom. freedom for all those people to go out in do what they enjoy doing and enjoy a concert without being harassed.
ashley: the four concerts were indiana, mississippi, illinois and kentucky. he wants to make it clear that he's not speaking out against vaccines, just anyone forcing them on people who may not want or need them. stuart: show me merck. the gates foundation spending big bucks to help roll out the new covid pill. how much money are we talking about? ashley: up to $120 million to lower income countries access a new pill to treat covid. initial trial data shows the pill can cut the risk of hospitalization or death of newly diagnosed patients by 50%. merck is trying to get emergency use authorization for the pill from the fda. that pill is being touted as the first oral easy-to-use treatment for covid. the gates foundation is supporting the development, manufacture of generic versions of the pill, this is the latest project bringing their total
funding commitment for pandemic related measures to $1.9 billion. that is a lot. stuart: got it. back to the markets. we have a rally going on, moderated just a little especially on the nasdaq but plenty of green. show me tesla. their earnings report comes out late this afternoon. the stock is treading water in advance of the earnings report but at a high level, 865. morgan stanley says elon musk could be, trillion air if space x takes off. no timeframe on that but space x is valuable. facebook thinking of changing its name as it deals with several growing scandals. no idea what the new name might be or when it might arrive. demand have to leave border
patrol will not admit there's a border crisis. role tape. >> you believe we have a crisis at the southern border? yes or no? >> doesn't matter whether we call it a major challenge, a crisis, a big problem? stuart: it would help if you recognize the urgency of the situation. candidate for the u.s. senate blake masters just returned from the border, does he think there is a crisis? i will certainly ask him next. ♪♪ ♪♪ when i was younger ♪♪ much younger than today ♪♪ i never needed anybody's help in any way ♪♪ as an independent financial advisor, i stand by these promises: i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship
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tax revenue. a trend in google searches could mean good news for the economy. what are people searching for? ashley: where they are looking for, jobs. now that those extra unemployment benefits have been cut off for the first time since march of 2020, job has overtaken unemployment as a search term according to data from google trends the number of americans googleing unemployment peaked at the end of march of 2020 when the pandemic shutdown the us economy and hovering above job searches until mid september of this year. this is a promising sign for the labor market which has seen a chronic shortage of workers, forcing desperate companies to increase hourly wages and offer hiring bonuses. the workers currently have the upper hand. stuart: do you know anything more about facebook may be changing its name? any word with the new name might be? ashley: not yet but it is
planning to rebrand itself with a new name focused on meta-verse, which the company defines as an online world where people exist and communicate in shared virtual spaces. i can't even say a little and understand it but reports claim facebook wants to be known for more than social media and will announce the new name next week. analysts say a name change could position facebook which owns instagram and what's apps under an umbrella brand similar to google and alphabet if you like. it could be that facebook wants to overhaul its reputation following all the negative headlines over misinformation, moderation failures and harm to some users mental health. maybe that is it. maybe it is a distraction tactic. stuart: maybe. who knows?
president biden's pick to lead customs and border protection will not admit there's a border crisis. watch this again please. >> you believe we have a crisis at the southern border? >> doesn't really matter whether we call it a major challenge, a crisis, a big problem? >> there is not a crisis at the border? >> i don't think -- >> is there a crisis at the border? >> senator, what i'm trying to convey is how serious i take what is happening at the border. stuart: he won't call it a crisis. blake masters is running for the u.s. senate seat in arizona. you just visited the border. is there a crisis? >> my gosh, yes, there is a crisis. why democrats find is hard to admit i have no idea. you see the crisis in the numbers. the yuma sector, border patrol is encountering 25 times more
illegal immigrants than they did at this time last year. 200,000 people are coming into this country illegally every month. that is a crisis. stuart: you are in the republican primary for the senatorial election. tell me about mark senator mark kelly. you are running for his seat. he is the democrat. i haven't heard a word out of him. he's the senator from the border state. has he said anything about this? >> it is not your fault. mark kelly is good at hiding away and saying nothing at all. he doesn't say anything and when he does there are rare times they will let him appear to say something was he will say we are going to work hard to make sure these communities have the resources they need to address these challenges, just like the clip you just played. they are on ice skates trying to deny the obvious reality that the border is under assault and the country is being invaded. stuart: my opinion is the democrats don't want to close
the border. that is my opinion. do you share it? >> i share it. this is obvious. biden invites people will come here. do the math, 200,000 people per month, a run rate of 2.4 million per year, in one biden presidential term, they will import more people illegally than live in the state of arizona. this is crazy stuff. they want it this way. i do think they know what they are doing. stuart: if you were elected and became republican senator from arizona what is the first you would do about the border? >> first thing you do is reimport donald trump's policies which were working, you finish and fully fund the construction of the border wall. i am tall, i am younger, i am fit, i go to bed border wall
and look up at it and there is no way i'm climbing over that thing. if you didn't have these gaps where people can walk through where the cartels full people through that wall works, we need it and need to double or triple the size of the border patrol. stuart: we wish you well. thanks for joining us and see you again before the election. thanks for being here. pinterest, a gain of 10%. just halted on reports that paypal might buy it. that is why it is up 10%. it was up as much as 6%, halted. paypal might might might - now this. the uk released its plan to reach that 0 emissions by 2015. is that realistic? we will discuss. i said to know how does bitcoin mining company make money. i ask the ceo who is on the
stuart: putting two stocks on the screen, paypal, pinterest, paypal has discussed, has talked with pinterest about offering $70 a share, pinterest just reopened. there's a gain of 11%, paypal trading down 4%. that is what is going on. check the markets, the dow holding on to a triple digit gain but. the gains for the s&p and the nasdaq. big story this morning in the cryptos and that is pit coin at
67,$340 per coin, new record high. the old record was 64-8, now at 60 or whatever it is on screen. pro shares, they made their debut yesterday, stock went up yesterday. it is up this morning another 4%, 43 on pro shares. crypto, the bitcoin minor stronghold digital just went public. it is up 54% at $29 a share, not bad. let's bring in ceo greg beard. good to see you. can you tell me in simple terms how you make money mining bitcoin? >> we are happy to see bitcoin above 67,000.
we earn rewards for computation capacity. every 10 minutes a single bitcoin is awarded, making these complications and sharing those rewards. we essentially own thousands of these machines making hundreds of millions of computation. the effort is made every day every 10 minutes. stuart: that is fascinating. another logical question to follow. i'm told it is a finite number of bitcoin that can never be mind. what happens when you reach that limit? >> we are then going to earn rewards based on transaction fees. for years there are millions of bitcoin yet to be mind before
the is hit around 21 million coins. part of the famous around bitcoin is comparing it to other currencies that don't have limits on what can be printed, bitcoin has a finite limit that can be mind. stuart: what kind of person works for you? are you all mathematicians? computer type guys? what worked for you? >> great question. we are the first vertically integrated bitcoin minor going through the front door of the sec. vertically integrated in our industry means we own our own power assets so most of us are generating power but we have a sophisticated team on the finance side, the math around the economics of bitcoin mining the formats that, what we can pay for machinery to sell our
bitcoin and those questions, mostly a power business that is using a source of energy made from waste coal reclamation. that the problem we are cleaning up in pennsylvania. stuart: i am learning something new every day. you are obviously going to make some money out of this going public today. what do you use the money for? >> we will buy more plants and power. that is the biggest cost. our margins should be better than our competitors and peers because the costs are so low and plan to buy more machines. we have a lot of growth we are expecting over 18 months. stuart: you are the only guy i interviewed on this program about cryptos who made me understand precisely what they have done and what they are doing, that is pretty good.
if you are not careful you will come back here. you are doing well right now, close to $30 a share. see you again soon. the dow 30 dominated by the green, that is going up. the dow is up 121. 35578, close to a record high. back in july the uk celebrated freedom day, the end of covid restrictions but now bringing those restrictions back as a new variant appears. nigel farage has the report from london.
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stuart: three months after britain celebrated freedom day, doctors are calling for the return of covid restrictions. nigel farage is with us. this is a variant called ay 4. it is causing this scare. of the brits really upset about this? >> we got rapidly rising case rates. it is a variant, viruses do mutate into variants all the
time. no great shock there. every winter the flu strain we get is different to the one before. most people who are getting this virus are young people, going around schools like wildfire, 99% of cases there is no serious health risk. that said, hospitalizations are rising, deaths are up 20% but relatively small. are people concerned? the real worry is we get a variant like this that continues and if we get a dose of winter flu as well with people back to work with the buses and trains full, we've got now our senior health officials saying we must put into place plan b which would not be lockdown. to be honest i'm not sure they would put up with lockdown after months of normality but plan b would be compulsory
facemasks, government departments continuing to work from home, restrictions on activities like that and probably insistence that we all get a booster jab. stuart: that kind of from bowl could easily spillover into was in new york and the rest of america and hope that doesn't happen. i will change the subject to let's be more lighthearted. i put out an editorial early this morning that i call the battle royale, prince william versus prince harry, traditional reserved william in london, woke harry in california. i say william is winning this hands down and harry will become irrelevant. what do you say? >> harry is relevant already. i tell you why. the key reason, his 95-year-old grandmother, the queen who
incidentally refused and award yesterday. she was put forward to be britain's oldy of the urine rejected on the grounds she doesn't feel old enough which is a super little story. having her a few times she has a sense of humor but the reason harry and megan are so unpopular is the sheer level of disrespect they have shown their grandmother and above all is why i honestly don't think he will ever be welcome back in this country, rather like a predecessor, the king who abdicated over his marriage to american to forcey wallis simpson. william's wife is magnificent, carries herself in public decently. i think frankly in terms of public opinion william has won already. the troubling problem is prince charles keeps coming out almost
every day with apocalypse now on the climate, he is rather over doing it. stuart: william said something about jeff bezos, saying our best minds should be fixing the planet here on earth. that strikes me as the royals getting involved in politics. they are not supposed to do that. >> i was disappointed william said that, first time he intervened in this way, prince charles has been doing it almost every day for 30 years. whatever you think of jeff bezos and rich people taking captain kirk back to space this is technological advancement and therefore shouldn't be criticized. i agree with you, it was a slip up from william but he is wise enough to learn from that. stuart: the uk just released a plan to reach net 0 emissions by 2050. i'm putting the plan on the screen.
0 carbon emissions 2050. what do you think of that plan? >> boris johnson was elected in december of 2019 on a conservative manifesto, 64 pages, one page was talking about getting down to net 0. he has become obsessed, he wants us to become the saudi arabia of wind, the klondike of carbon capture. he seems to have become totally assessed with all of this and the problem is who is going to pay the price for replacing gas, oil with heat pumps? will pay the price for no more patrol or diesel cars but electric cars? it is unaffordable, it is unachievable, we all want to live in a cleaner world was when we produce one% of global co2 and china now produces 30%, what is the point?
driving away manufacturing industry, frankly no more than a drop in the ocean. boris johnson is risking the entirety of his political legacy on this massive massive gamble. stuart: you cover it all in 3 and a half minutes. you should come back to new york. we need you over here. come and see us. you are all right, see you soon. look at this. 11:55 precisely, time for the trivia question this wednesday. only three movies have won 11 oscars. titanic, ben hur, and which other film. the answer when we come back.
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life is for living. let's partner for all of it. i'm so glad we did this. edward jones stuart: ashley, please come new this. i need your help. here is the trivia question this wednesday. only three movies have one 11 oscars, "titanic," "ben hur" and which is the other film? what is your choice, ash? >> i went with, i love these trivia questions. i went with the "lord of the rings" because that franchise always wins best costume everything else. i such "epic movie," go with "lord of the rings". stuart: reveal the answer. you were right, lord "lord of te rings," the return of the king. best director, peter jackson.
it did not receive any nominations in the acting category. ash, i'm really surprised. a fantasy movie, 11 oscars, come on. >> so epic. shot in new zealand. it is beautiful. i'm not surprised. stuart: you got the new zealand bit right. everything else was beyond me. >> i get it. stuart: if i don't say it before, i will say it again, you're all right. see you soon. here is somebody else all right, mr. david asman. david: this is a news flash, "lord of the rings" is fantasy, is that what you're telling me? is that what you're telling me? are you kidding me? i'm david asman in for neil cavuto on "cavuto: coast to coast". we'll tell you the new price tag