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tv   Varney Company  FOX Business  October 21, 2021 9:00am-12:00pm EDT

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taught them to repeat the same affirmations over and over again and it is just magical. maria: it is. i did to leave you with the final word on the program, bob nardelli, thank you, have a great day. "varney and company" begins right now. take it away. stuart: president biden is in deep political trouble at a time he needs maximum support to push through socialist plans, support is evaporating was the latest poll shows biden is way underwater on his performance on the economy. 39% approve and that is down 11 points in just a few weeks. his big problem is inflation, voters biggest concern. 87% are extremely or very concerned about rising prices.
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one more. it is the independents who are leaving him in droves. among that group he has dropped 15 points, over handling the economy. there is news on biden's massive spending plan. christensen a will not support higher taxes on individuals, corporations or capital gains. democrats are scrambling to figure out how to pay for it all. the president stumped for his plan wednesday saying, quote, it does not increase the debt. it is all paid for. christensen a set it does not add up. to the markets, a pull back for stocks follows and intraday high for the dow wednesday at a succession winning streak for the s&p 500. this morning we see a small loss for the dow and the same
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with the s&p, nasdaq down 37. small pull back. a pullback for cryptos, bitcoin hit 67,$000, fallen back to 65,200. the white house has a plan to vaccinate children 5 to 11, when the fda gives emergency authorization for pfizer's vaccine. the kids get shots at 100 special centers, 25,000 primary care physicians and for the children's hospital association. there is a question of how many parents are okay with this and how many schools will mandate child vaccination was one more poll, a dead heat in the virginia gubernatorial election. glenn youngkin has caught up with terry mcauliffe. for the democrats this is a must win. vice president harris campaigns in virginia today. thursday october 21, 2021, "varney and company" is about to begin.
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♪♪ stuart: the beatles, taxman when we are talking taxes, great song. the infighting of the democrat party hitting a new level. senator kirsten sinema against taking taxes on corporations, the wealthy and capital gains. jason chaffetz is here. will the president's plunging polls and kirsten sinema's rejection of tax hikes kill the package? >> i hope so. this reconciliation bill does fail, biden's numbers go up, america recognizes, and tax hikes, that is passed on to the consumer. the average person in america, most people figure out that
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math and kirsten sinema recognizes this is a bad bill for arizona and she's consistently tried to put arizona first, not chuck schumer. stuart: in your judgment do we get anything here? $1.9 trillion on the table for infrastructure, it is $4.7 trillion for all social stuff. do we get anything at the end of the day? what are the chances we can kill the whole lot? >> 50/50. then it swings to the progressives. will the progressives put up with nothing on reconciliation? they wouldn't allow a bipartisan infrastructure bill to move forward. they have had a stalemate. at this point the answer, they would have brought it up for a vote but don't have the votes. they all have four votes to give up in the house of
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representatives, they said we are not doing bipartisan infrastructure unless you do the green new deal in the reconciliation package. they are a no on reconciliation. otherwise chuck schumer would bring up for a vote. stuart: thanks very much. check the cryptos please, a retreat from yesterday's highs for bitcoin but ethereum powering ahead $5,000 a coin. let's bring in bill the rukh, bitcoin jumped to a new record. is this a bit coin breakout. >> above previous, on a closing basis. if you look at the measured
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move, earlier this spring. what we look at is a measured move to 80,000 but a 100% move from the range from april, is bitcoin going to lead the way? they paved the way for the alt coins. $30 this summer, and above 220. stuart: are you making the true addiction it goes to 80,000 and then 100,000? >> if we close above 60,000 there's a high probability we see 80,000 by the end of the year. stuart: what is with ethereum? it power had $4,000 today. >> people are building off of ethereum.
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i like both of them. it will clear, a lot of this depends on above 65,000. it is bringing a lot of momentum. with commodities, gold in 2004, it shot up. november, early november, it stayed strong through the end of the year. stuart: thanks for being with us this morning. we are two weeks away from the gubernatorial election in virginia and there is a surprise in the polls. republican glenn youngkin has
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caught up with terry mcauliffe. lawrence jones is in loudoun county, virginia. i know education is the big issue but what about inflation? has that popped up with the people you are talking to? >> reporter: putting up on screen, biden has dropped 11 points when it comes to approval rating is why that matters is the national approval rating started to affect the local level as well. we are in a dead heat in virginia. former governor mcauliffe will get youngkin, the republican. when you talk to folks on the ground they talk about education but also inflation as well as the supply chain. this is affecting businesses everywhere. there is some stuff on my plate today i may not be able to get the next time i come into town just because they can't get those products here in town. stuart: you are in loudoun
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county, ground 0 for the education debate. is the debate - >> reporter: talk about critical race. mask mandates, vaccine mandates, in general a lot of these parents want to take the power back and when you look at what the doj did, making them public enemy one. a lot of them got fired up about this because the interesting thing is a lot of democrats here who consider this bill democrats but don't like the direction of the party and they say they will vote republican this year. that was very telling. stuart: are they riled up? is there intense feeling? >> reporter: there is. i spoke to one person, the stuck with me. everything democrats touch is going to hell right now. they are talking the supply chain, the border, the economy,
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education. when you see crisis after crisis with the new administration that was supposed to provide some type of normalcy i'm seeing a lot of democrats saying we will give the other side shot now. stuart: earlier when you were on fox and friends you have three breakfasts in front of you. did you eat them all? >> reporter: there's a little bit left on my plate but it may not be here next time so i wanted a good sample but the burger is gone. stuart: the supply chain problem could catch up with you. thanks a lot. a look at futures. i see red but not, sitting on a popular burger joint, the vaccination police.
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it is over rampant shoplifting. the teacher of the year should lose his job for not getting richer. role tape. >> unfortunate after 15 years of dedicating myself to the profession, students and families, here. >> marsha blackburn wants to protect essential workers from vaccine mandates. she will join us after this. ♪♪ ♪ ♪ no two dreams are the same. but there is one van equipped to handle them all.
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is kind of warm for san francisco at this time of day. look at apple, the free market quote on the most valuable company in the world. they are down just a fraction. they are not mandating the jabber for their workers but made a change in their testing policy for the unvaccinated workers was what are they doing? >> unvaccinated office workers test every day. apple provides you with the rapid at home kit. you flash the result on your phone when you head into the office. vaccinated employees we tested once a week for the apple stores, customer facing retail workers. if you are unvaccinated you are tested twice a week, vaccinated once a week. apple is a federal contractor. they sell products to the governments. what happens on december 8th when they go into effect? stuart: only time will tell. at a connecticut high school, he was teacher of the year. he faces termination.
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qasim outlaw has refused to comply with the vaccine mandates and covid testing. >> it is unfortunate after 15 years of dedicated myself to the profession of students and families in the town that i worked in, in terms of my personal lifestyle i am an advocate of ballistic health. i've been a plant-based vegan for the last 7 years. my fuel, i pay attention to what i put in my body and how i've nurture myself. stuart: plant-based vegan holistic medicine kind of guy. marsha blackburn, republican tennessee joins me about huge legislation to protect the workers, police officers, firefighters, teachers and can you do it, can you protect them from the mandate by federal legislation? >> what we are seeking to do and what legislation will do is
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anyone deemed an essential worker, they do their job, in the vaccine, they figured out how to protect themselves and how to protect others. this mandate, having to go about getting a vaccine to keep your job, what president biden is doing is trying to use this as a way to get people fired. driving people out of work and taking money out of their pocket books. i've talked with essential workers and that is where the idea came from. first responders, law enforcement, airline workers, they made it through the
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pandemic, but the left is desperate to continue the pandemic until the 2022 midterm elections and we've got to find ways to say no you don't. stuart: is he trying to continue the pandemic, extend the pandemic? i would have thought he's losing ground because of his not great understand or performance with the pandemic. >> you are right. people saying follow the science refused to follow the science and you know this is all political with them. what they would like to do is take one vote that pushes their socialist agenda so that they have government control of kids, healthcare, bank accounts. they are trying to get you fired from your job and put you on government assistance. stuart: we had these polls out today that show the president losing a lot of ground on the
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issue of inflation and the economy and news that senator christensen a will not support tax -- kristen sinema will not support tax increases, is that enough to wreck the whole $3.5 trillion plan? >> not only that but the more people learn about this bill the more they realize it is a socialist takeover bill. i talk to tennesseans every single day. i did a telephone townhall this week with 30,000 people and they talked about the vaccine mandates, broken border, the concerns with illegal immigration and illegal immigrants being flown into their communities without anybody's awareness. they talked about the impact of inflation and supply chain and we had a great discussion but they do not think the president
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biden is focused on how to solve our nation's problems. what he is trying to do is create problems, destroy institutions and then say we can build it back this way but his build back better turns out to be built back broke and the american people figured this out. stuart: senator marsha blackburn. thanks a lot. we told you about the football coach in washington state getting terminated over the vaccine mandate. fighting back, is he suing? >> discriminatory behavior under athletic director, it is a tragic and damning commentary on our culture and on the director, derided, demonized, fired from his job for being developed in his catholic faith. he did file for a religious
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exemption. he withheld his salary. stuart: it beats me how you can deny someone a religious exemption. >> the rules are different state to state and the test out option. people start moving into states. stuart: a disgrace to be denied a religious exemption when you are clearly a devout follower of that religion. lauren: what investigation did they do? stuart: good stuff. there is not a lot of it, "the opening bell" is next. ♪♪
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so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. stuart: minor losses at "the opening bell" down 50 points but i to show you auto nation. this is from a strong earnings report cashing in on higher car prices as the chip shortage
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means car production delays with people buying used cars. a solid performance up 8%. take a look at tesla. they had a spectacular earnings report, stock is down a little bit. you are at $855 a share. david nicholas joins us specifically looking at tesla. is tesla the preeminent electric vehicle company in the world? >> despite the haters, the supply chain that you discussed by the current administration, tesla had record deliveries, record production and record net income. i was reading the call, there were flying parts all of the world to make sure they could get deliveries done in time. i always said don't bet against elon musk. companies have strong management, strong leadership and you get that with tesla and you owned the stock.
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production capacity is just getting started in texas and berlin. they had to send cars from china to get them to america when they open up. just because they can't keep up with the demand out there. stuart: as you look across the automotive industry is total the best stock to own? the only car stock to own? >> you pay premium for tesla but it is a growth company, for the value name. supporters, great automaker, we lucid motors, one of tesla's competitors, the all electric vehicle with a 500 mile range but i also like trucking. in a my cold dominion, you talked about an auto parts store, i think automotive will have a strong fourth-quarter. we are putting our money in
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automobiles, trucking and auto supply companies, no cars on the lot. that's where the money is going. stuart: take me for the big picture. articles very much in control of the market? >> the bulls are in control. i could make a case why the market should go down. what about inflation? put that aside. there's trillions of dollars of money going around that has to go somewhere. so much money going around people i bathing it and because of that liquidity, a strong case we are making that we could see a 5% to 6% year end rally. we've got to have strong earnings and come in pretty clear but the setup is nice. the bulls are in charge so hang on. stuart: 5% to 6% rally from here before the end of the year. >> even if we get a little
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surprise, corporate taxes i dead on arrival 5% to 6%. stuart: thanks for joining us. appreciate it and have you back soon and see if we get the 5% for 6% jump. this thursday morning, october 21st, the backdrop is kristen sinema walked away from tax increases on individuals, corporations and capital gains. that is important. dow industrials of started on the downside, not by much. we are down 70 points, 35,500 is the level the dow has opened at, down 94 points. the s&p 500 on the downside, drop of.14%. the nasdaq a similar story, down a fraction, 0.09%. look at big tech, largely
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rallying, not much. apple on the upside. down 100 points on the dow industrials, at&t, what happened to him? lauren: they grew wireless customers in a big way that shows a tnt strategy boosting the core business, discounting phones and getting long-term commitment in the end, streaming service, 45 million subscribers in the us and a revenue beat. stuart: at $26 a share, at&t's dividend is 7%. you are going to get that dividend, 7% is very good. american airlines up one%. lauren: we could do the theme for the airlines, their losses
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are narrowing and revenue growing, when the possibility return? the revenue tripled. holiday quarter revenue, 20% from the 2019 level. despite the return of the lucrative transatlantic route that opened up in november. stuart: and high prices. that is a big impact on the airline. the cancellation is 2000 in a matter of days. to avoid that from happening again and cutting their capacity for the holiday quarter and like americans, fourth-quarter revenue will be 20% lower. stuart: we reported southwest retreated a little on the vaccine mandate, a little bit of a retreat. blackstone. i own a small piece of blackstone, up 3.5% today.
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lauren: a great earnings report. one thing the ceo said that is concerning the company they advised is high inflation is sticking around. they have 100 companies, profits nearly doubled. that's the good news and look at the today. goldman sachs at this point. stuart: blackstone bigger than goldman sachs, the 3% gain. stuart: is up 5.8%. that is a rally and a half. old tech. ibm can't do anything right. lauren: their legacy business providing tech support to clients is struggling. they are moving to the cloud, new areas of growth but not fast enough. they see the cloud being a $1.2 trillion opportunity to not getting there fast enough.
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they did something i did to bring up. it is about labor costs going up, retention costs. those who make a lot of money, more money, that is the head wind and hasn't been factored in. stuart: ibm is a dow stock, down $8, taking 60 points off the dow. if it wasn't for ibm the dow would be positive. let's get to this, the plastic shoes, i am alone in that opinion because once again they crushed earnings. lauren: no one think they are good-looking but they're comfortable. it is cool to wear something ugly. it is trendy. factory shutdowns in vietnam cross quarter revenue, 73% and race for your numbers, they expect next year's revenue to be 20% greater then this year. that is why the stock more than doubled this year.
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it is amazing. what is the material in the shoes? something more fancy. stuart: the ceo is going to join us again on the show tomorrow. he will support me out about my fashion taste. with an earnings report it is a winner. talking about old tech, what are they doing right? lauren: a strong forecast for next year, they hike their dividend to a full dollar. management the switching worries with the pandemic we saw, peak demand and management, they feel confident with pc sales and printer sales being strong. stuart: do you have an update on paved how talking about pinterest, any update? lauren: look at the stocks, the report that paypal discussing
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acquiring interest on $70 a share. there are questions this morning, is it worth it for paypal to make the biggest acquisition ever by acquiring pinterest when they team up with them. stuart: that is the standing right now. let's look at the dow winners, 30 stocks in the dow industrials and the top performers dow inc. and home depot there as well. hewlett-packard, not seeing them in the best performance for a long time. the nasdaq composite is headed by csx corporation. none of the big techs are on that list. a few months ago big techs dominate nasdaq winners list. now they don't. big board down 80 points. the 10 year treasury yield is one.65%.
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gold $1,784 per ounce. it doesn't do much. bitcoin, 65,$790, have a record of 67,000. oil at $82 a barrel. natural gas is around 509, the average price of a gallon of gas keeps going up. you are at $3.37 nationwide. we will tell you again the most expensive gasoline in america costs you $4.53 a gallon of regular and that is in california. democrat senator joe manchin the shooting of speculation that he switching parties. role tape. >> rumors. stuart: it was me. was he convincing? i think so but i still think he should jump ship. covid rules in california
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school so strict that one district is telling kids to dress warmly. they are eating lunch outside in the rain. we've got the story. bitcoin going sky high and ethereum selling, my next guest is launching a crypto fund. matt haugen is here next. ♪♪ ♪♪ ♪♪ feeling like a little kid ♪♪ i'm still standing ♪♪ after all this time ♪♪
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stuart: bitcoin 65,$700. paypal cofounder peter teal has been speaking about bitcoin. the sea feel he has missed out? lauren: in miami he said i wish i did bit more.
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diamond are invested in bitcoin. information is reporting this. something teal said on monday. i don't know that you should put all your money at bitcoin at 60,000 but surely the fact that it is at 60 is a hopeful sign. the canary in the coal mine, the most honest market we have in the country and it is killing us this to credit regime is just about to blow up. in other words the us political system, the record bitcoin prices to a bankruptcy moment for central bank. if anyone can produce cryptos and transfer it, eliminate the need for a federal reserve and financial system. it is very dramatic and when you look at bitcoin hitting a record yesterday maybe a lot of probably -- a lot of other people agree. stuart: matt hogan launched a
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new crypto fund. welcome back to the show. good to see you. this is pretty good timing i've got to say with crypto doing what they are doing. are you concentrating on it theory him -- ethereum? >> it is actually, there's a lot of focus on bitcoin and a theory him. those are the blue chips of the space. it is available to investors for an asset that helps ease congestion on the ethereum block chain. if you heard about that, it is built on azar, the network is getting clogged, jammed. this new fund is invested in
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assets that bypass that and give some statistics. the ethereum block chain comprises 34 transactions with this scaling, to 65,000. a lot of investors coming into the crypto market for the first time, that is great. the investors, what is coming next. this is what is coming next expanding beyond bitcoin. stuart: and my buying into a basket of cryptos, a piece of those cryptos that are in your specific fund and all kinds of different funds? is that accurate? >> the flagship fund, the ticker holds the 10 largest crypto assets. that is for investors who want to make a bet on crypto but don't want to pick and choose
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which coin they want but the s&p does. we have another fund that holds the largest assets except bitcoin. some people are excited about bitcoin and someone's exposure but you and i know there's more than bitcoin, there's salonika, it gives investors exposure to that. it is easy for investors to get professional fund exposure to the crypto market. slice and dice different ways you make it easy. stuart: it is managed to. >> a lot of intelligence behind it is removing assets that might have hidden risks as we are not picking and choosing winners but trying to avoid assets like dogecoin and other assets that are smaller but have hidden risks. we screen those out and then try to own the market as a whole. stuart: you are not into gode. >> despite what my daughter would tell you i'm not into gode.
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>> thank you for joining us. cs again. some companies will be reporting their earnings after the bell. among them is chipotle. they've not reported yet but down a little bit in early going. >> they have strong pricing power but watch their margins, they are paying a higher cost for their workers and food. they are in a sweet spot because they have a younger and more affluent consumer so they can take many prices better than other companies and still keep their customer base. other than that revenue is 21%. stuart: intel in the middle of the chip shortage. lauren: earnings will be flat. chip shortages are eating into sales within a report so the lag between when a company orders the chip and delivery of that chip is a record 22 weeks. intel is highly investing in and pushing congress to bring chip manufacturing. stuart: i would have thought
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mattel would be hit by the supply chain. lauren: ubs put out a report that mattel and hasbro are okay when it comes to supplies for the holidays because they have contingency plans in place. the revenue increasing 3% to $1.7 billion. we will see what they say about the supply chain. stuart: a quick update on snap. lauren: they are growing 20% pace, connect continue? bring your ad dollars and that is good for investors. stuart: if it doesn't the stock goes down. coming up, professor dorian abbott was supposed to deliver a lecture at mit today. he is out not because he didn't know his stuff but because he called out affirmative action. if you are not aligned with the woke crowd you can't teach. that is coming up at the top of the 11:00 hour. the white house rolling out plans to get kids a 5 to 11
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stuart: the white house has unveiled plans to rollout covid vaccines for children ages 5 to 11. once the fda give the green light to pfizer. 28 million doses ready to go. the vaccines will be available, local pharmacists and possibly schools. doctor, are you in favor of vaccinating kids 5 to 11? >> it is very important, regarding my grandchildren, so enthusiastic about this vaccination. stuart: do you expect push back, i know a lot of parents who don't want to give a jab to a 5-year-old. >> it will be exceedingly difficult to mandate the vaccine for little children.
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35% of parents, having kids get the shot. the adult vaccinations, people were not sure, and there will be real issues. stuart: what is the difference between the regular vaccine kids have to have to go to school and the covid vaccine? >> the covid vaccine is a messenger rna vaccine, only 10 micrograms compared to 30 micrograms for the 12 and a group of young people and the vaccine is not very different except in concentration and the small needles because children tend to be more emotional when
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they get the vaccine so it is in pediatricians offices, hospitals, pharmacies, children's health centers, schools and clinics perhaps. stuart: there is a surge in this variant ay are 2. do we have a problem with a new variant surge here? >> we will probably have a problem with that because it appears to be even more ineffective than the delta variant. my last thought is the reason these variants come about is because we -- the unvaccinated population. when the virus gets an opportunity to replicate in great numbers. stuart: that is good stuff. appreciate you being here. still ahead. indiana senator mike braun, general jack keane, new york post miranda divine and stan heninger, the 10:00 hour of varney is next.
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♪. >> good morning, everyone. 10:00 eastern, minor losses on dow. nasdaq turned around up 26 points. not that much movement. bitcoin, still $64,000. yesterday was the record at 6. oim, where is that this morning? still well, i don't know where that comes from.
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please get that off the screen. i want to look at the price of oil, can we do that. dow industrials down. s&p down. nasdaq up. have we got oil, 10-year treasury. we'll take the 10-year treasury. it is going up. that is not good news for big tech which usually goes down when yields on the 10-year treasury go up. we're at 167 right now. far more important for numbers, read on existing home sales we received. this is what the realtors live by. what have we got? lauren: it is stronger. 6.29 million homes. stuart: on annualized basis. lauren: seasonal adjusted annualized basis for the month of sent, for a stronger than expect the rate. median sales price, 352,800, 2.4 months of inverier to. that price is up% on the year. inventory is also down. that is the story. housing market remains strong.
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looking at 6.29 million was the seasonally adjusted annualized rate. the highest since 06 was a year ago at 6.7 million. we're not that far from it. stuart: very, very strong indeed. very low inventory and higher prices. that is exactly what we've been seeing. fascinating stuff. i hope realtors are happy with this. mortgage rates. we didn't get to that. lauren: 30-year fixed rate it went up a little bit to 3.09%. even though rates are going up and prices are going up and they are building now, there is more inventory you still have the labor and material shortages but not really affecting demand in this market. everybody want as house. thank you very much, lauren. now this. back in the clinton era, one of his campaign officials coined the expression, it is the economy stupid, meaning pocketbook issues rule elections. clinton learned that lesson and
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won, twice. president biden should take note because he is fast losing support for his economic performance. his downturn is dramatic. look at this. he is down among democrats and republicans but with independents his support is absolutely plummeting, down 15 points in a month. you cannot win an election without the independents. overall on the economy he is now way under water, only 39% approval and that is down 11 points since september. if you zero in on specific concerns inflation tops the list. 87% are extremely or very concerned about rising prices. it is time the democrats learned, excuse me, that inflation hurts working people more than anybody else. rising prices are wiping out wage gains and everybody, except the socialists know it. one more poll related to an election coming up next month. it is now a dead-heat between democrat terry mcauliffe and
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republican glenn youngkin in the race for governor of virginia. although education is the driving issue this is terrible news for the biden presidency. he won virginia by 10 points. he has no answer to the inflation problem. in fact his inability to deal with the supply chain crisis is making inflation worse. he has no answer to the education crisis. his pals in the teachers union have really hurt public education. the biden-harris team is in serious political trouble. and there is still more than three years to go. second hour of "varney" just getting started ♪. stuart: look who is here, miranda devine, "new york post." look, president biden and harris have three years left. can they turn things around do you think?
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>> look they don't show any signs that they are realizing they're in a popularity crisis. they're not doing anything to turn around any their policies. they're doubling down. it seems to me they're trying to humanize themselves more or something. i mean that cringe-worthy video that they put out yesterday at the white house of joe biden giving kamala harris a bunch of flowers, you know, they're doing some stunts like that. they are missing the point. i don't know if joe biden is not being shown the polls or if people in the white house have decided that they're above you know public opinion but they really have plummeted as you say, among the independents and it is all on policy issues. it is peoples hip pocket. every time they go to the fuel they see price of gas has gone up. every time they go to the
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grocery store, they try to buy a chicken breast. it is 30% higher than it was a few weeks ago. people are feeling it. to have the white house jen psaki make jokes about the supply chain, poor you, you put up not being able to get your treadmill, you know it is not funny. stuart: no. >> it is nothing to make light of. every other administration, every other democratic government in the world when faced with these kind of plummeting pools retools, listens to the people and changes their policies but -- stuart: not going to do it. >> the biden administration seems to think they're on the right track. stuart: amazing. the broke the "new york post" story about the administration secretly flying migrants in the middle of the night to new york and florida and other places. do you have an update on that story? >> well we do. we've been getting an amazing number of tips and videos even from locals who sort of videotaped migrants milling
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around in shopping center car parks and also, we're looking at the wider picture. trying to piece together the passion of flight throughout the country and seeing how many other so-called hubs there are. this is what hhs tells us white plains is a hub for unaccompanied minors many who look older than 17, 18, they look older than 20. they say it is a hub. you can discern the pattern in the public flight logs of these thousands of flights flown around the country stealthily dispersing migrants from the southern border and processing them at record speed and not doing the proper vetting we're told because they don't want the bad optics that they had in march and april of both overcrowded detention facilities down on the border. stuart: miranda, come back soon please. update on these hubs which you will probably discover.
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miranda devine, "new york post." >> thank you. stuart: let's get to former president trump. he is launching a new social media company, it will be listed i understand, lauren, on the nasdaq. >> social media company is called truth social, under trump's company, media and technology group. it will list on the nasdaq as you say through a spac deal with digital world acquisition. those shares are surging today. as for the platform in a press release because he doesn't have social media anymore. we live in a world where the taliban has a presence on twitter but your favorite american president is silenced. this is unacceptable. i'm excited to send out my first truth on truth social very soon. first quarter next year, with the before the midterm election. stuart: with the short jabs. lauren: a lot of people will sign up to see the short sharp jabs. stuart: only right the man can
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community if he wishes to. lauren: especially if the taliban can. stuart: well-said. well-said. get check on market please, we're 38 minutes into the trading session. a mixed picture. the dow is down. nasdaq up a little. d.r. barton with us this morning. i think you are going to be the second person on the show today to forecast a melt-up in the holiday season. we had david nicholas saying there is a melt-upcoming. we will say the same thing. make your case. >> stuart, we've been talking about that exact term, a melt-up for several weeks now, when people were suspicious in the markets. is it bending. is it turning over? is it finally going to fall. we said no here on your show, because of cash, because of the technicals, because of the fundamentals. the earnings are coming out strong again but here's the big thing that tipping me right now, i'm in the 20th of september
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during that drop we had only 10% of stocks above their short-term moving average, above just what they have been doing, now we have 80%. this kind of a big move in market participation is very rare and it is almost always followed by market strength. lots of money. good fundamentals. good technicals. we have a great chance for a melt-up into the holidays. stuart: by melt-up, four or 5% rise from here by christmas? that is what i would call a melt move up. that is what some of our other people are saying, four to 5%. >> i like that level, that order of magnitude, stuart. it would be unusual to get something like a big 10% push. to get several%, three, four, five, like you above the highs we're bumming up against right now, i think that is very much in the cards. stuart: one last one. i know you like visa.
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to me that is old-fashioned payment system. but you like it. it is down today, 1%. why do you like it? >> we talked about this whole payment structure field. i have, we talked about square before here. we talked about paypal. i like the new school, but the old school visa has been beaten up more than the others in the last six weeks to eight weeks, stuart and i like it down here at this price. it has earnings coming up next week. they have been a big beater of earnings the last 10 quarters they beat their earnings estimates. so i think there is upside and i think the holiday push we're going to see, i think we'll see, big, big holiday spending. visa is going to get more than their fair share of that spending dollar. >> we hear you. d.r. barton, thanks very much, sir, see you again soon. there are movers in this market today. lauren got the list. that is moving. lauren: new high, solid earnings
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thanks to a big demand for cars that you can't find and are not discounted. because of higher car prices autonation doing really well. they authorized another one billion dollar buyback. stuart: analyst earlier this morning saying ford was another strong performer in the automotive sector. up 2%. 16 bucks a share. lauren: another new higher for ford. yesterday we gave it a story credit suisse bullish for ford electric plants. significant turn around for the company. second major rally in a row for reports. stuart: i've been following tractor supply for years because i own a small farm. i never bought the stock. maybe you should have? what is so good now. up 3 1/2%. lauren: they raised outlook despite all the supply constraints. comps came in with 13% gain. we came with the story people are selling 10-year old tractors more than they paid for them a
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decade ago. not because they are cool and something you want to collect or showcase because you have to actually use it and find replacement parts for it if breaks because they can't get enough farm equipment. stuart: tractor supply, $210 a share. thanks, lauren. president biden losing support among democrats and independents. media guy joe concha takes that guy in 11:00 hour. he is still losing support. americans are trapped behind enemy lines but the state department thought it was crucial to celebrate international pronounce day. we're not joking and we will cover it. senator lindsey graham is sounding alarm over reports that china launched a heimer sonic missile. the president says he is concerned. we'll ask general jack keane what he thinks. he is next.
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♪. stuart: the leaves they are turning. looking at white bear lake in minnesota. far from the north, university is only 43 degrees there right now. people will say there is a chill in the market but i will say there is not that much price movement for shares so far today. tesla complete reversal. what a change in course. on the air 40 minutes ago, they were down slightly. now they're up 30 bucks, that is 3 1/2% complete turnaround for tesla after a very strong earnings report late yesterday. president biden says he is concerned about the chinese hooper sonic missile test. south carolina senator lindsey graham is warning of a possible nuclear arms race with china. come on in general jack keane.
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general, looks like china is way ahead in what is an important area. is that accurate. >> yes. well they're the first to develop hypersonic missiles. they have operationalized conventional missiles that have the capability to take out our maritime fleets and bases in the region there is largely no defense against these missiles. so the audience understands they come through space at five times the speed of sound. they have complete manueverrability. our cruise missiles, that is the current technology that being used that our audience seen many times on our tv screens, move on a much more predictable path, have some manueverrability to be sure but not dramatic change in altitudes and maneuverabilities that these missiles have. and what we're talking about here is nuclearizing these hypersonic missiles. this one we believed or bit
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offed the earth, then reentered the earth's atmosphere and ran into the target many, thousands of miles away, exploding that target, maybe not hitting the target directly. missed it supposedly by 25 miles. if you delivered a nuclear weapon, certainly that is not. of an error using a nuclear weapon. so, yes, this is advanced technology. what has happened the chinese are denying this. they were saying they were just testing a reusable spacecraft. if that was the case why is it so secret? why were you hiding the fact that you were actually doing it if that is all it was. that is number one. two, our government as you're saying is not giving us any information. senator graham tried to get this information. i have spoken to him on this subject. he is getting together with his colleagues now demanding this information. wanting to know what happened, where are we in relationship to
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this in terms of what the threat really is. >> stuart: this administration has no love for military spending. in fact they want to cut military spending. how will we respond to china's technology if we're cutting military spending? can we respond? >> we said from the beginning here when the trump administration came into power we understood we already were behind the chinese in, they outgunned us and outmanned us in the pacific region. the trump budgets were in the right direction to catch up to the chinese and certainly end the gap that is current. remember, we were always in advance of our adversaries from technology. the soviet union certainly was the principal one. we find ourselves now, very powerful to be sure. a lot of our advantages have gone away. it had to do with the 9/11 wars for 20 years. and we have to catch up in
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certain technologies. this, this is a place where we have to do that. as you suggest, financing is critical here. priority of funding for the chinese threat has got to be very visible in the budget. i don't think it is anywhere near what it should be in the biden budgets we had access to thus far. stuart: got it. general jack keane thanks for joining us, sir. great too see you. >> good talking to you, stuart. stuart: a largely classified letter from the pentagon reveals almost half of the 53,000 afghans brought to america are children under 18. 34% ad ault men, 22% adult women. that is the breakdown from the refugees. one of the taliban commanders who used to run their suicide bombing squads. he has a promotion. what is his new role? lauren: he is the police chief. stuart: in kabul. lauren: in kabul, the afghan capital. he was the taliban commander
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launched suicide bombings in kabul, part of the haqqani network. not a role we approve off but handling mundane matters like marital disputes. one woman came into his office, fighting with a mother-in-law. he had to arrange making her mother law live with her husband's brother instead. stuart: that is what he is doing now? lauren: the staff under him not trained, not paid. this is how the taliban is running their country. stuart: okay. like to follow up on that one but i don't know how. what is this about the state department tweeting the pronouns we should be using? lauren: she, her, he him. the state department says on international pronounce day, we share why many people lift them on their socials. they have a link to where you can read more about it. this is the state department. one critic said, what is the pronoun for someone stuck in afghanistan? i don't think that person would care -- stuart: i don't understand. are we allowed to say his her, she, him. lauren: on social media people
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sometimes in their bio say, what they like to be called. so for me i would say she/her. i am a woman. i identify as a woman. stuart: right. lauren: not all people are that straightforward. and some people have confusing names. there is a whole bunch of reasons. i know. scratching your head. so is senator marco rubio. if we can pull up what he said again. this is what people in charge of our nation's foreign policy are working on today. stuart: i got to move on. i just got to move on before my head explodes. maybe i will explode on this one. one los angeles neighborhood outside of the country's busiest port, it has become a perpetual nightmare for drivers. we got the story as we try to clear the ports. they have a problem with that too. here is the question, will high gas prices mean less holiday spending. jeff flocks reports after this.
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stuart: we've been in business almost an hour. not that much price movement for the big indicators. the dow down 80. the nasdaq up 53. lauren is looking at a couple of
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pot stocks that would be tilray and sundial. they're both up. tell me why. lauren: look at them go. 73 cents for sundial. there is take over chatter someone will take over sundial. it might be tilray. big volume on sundial. stuart, consoledation in the marijuana industry is an on going process. haas to be. that is what you're looking at there. tesla is up. lauren: strong margins when you look at earnings but there is also this. the national transportation safety board and driver and passenger seats were occupied back in april when the crash in texas involving its autopilot. stuart: right. lauren: their autopilot is out in beta form now. it has been in many, cars use it have been in many accidents. the local police in story said nobody was in the driver's seat but apparently someone was when the model s crashed and that is good news for tesla. could be one of the reasons why
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the stock went from negative to positive. stuart: may not be necessarily tesla's fault. lauren: two years since they scrapped their ipo valued $47 billion? they went public today through a spac at the new york stock exchange. stock is up almost eight percent. stuart: they're back at $11 a share. >> it makes sense, a lot of companies got rid of their headquarters, corporate headquarters, downsized. now they can rent office space at wework. stuart: look who is here now, gary kaltbaum. gary, are you going to be the third stock watcher on this program today who forecasts a nice bump up for the market before christmas? >> two weeks ago i told you i thought the market was putting in a low. it definitely is. you have the energy stocks emerging, financials, rails, you name it and now you're seeing something as great earnings reactions. i have to mention two names,
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netflix gapped down yesterday, back up $16 today, shrugging it off. tesla was down 15 bucks overnight. that was institutional buying. i'm seeing a broadening out of the market here. unless things change i think we have 5000 s&p coming in the second quarter. you know, sometimes highs get more highs. i'm seeing it on a daily basis now. ignore the dow today. the market is much better underneath the surface. stuart: you know, i keep getting nervous. you worked through with this me for years and years and years. the market goes up, i'm nervous will we have a crash, it will come down sharply. you consistently said no, hold on stuart, hold on to your microsoft. hold on, wait this thing out it is going back up again. you're saying exactly the same thing now. kudos to you, gary because you've been right. >> but i will say this, i do
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believe we're in the late innings of this central bank induced move. i think what we're seeing right now is a combination of they're still printing trillions and that we are coming out of hopefully, finally coming out of the virus. i do believe the economy is really accelerating as we speak right now. and that is going to give us a lift i think for the next couple of quarters. after that though, we have to deal with some reality and that is valuations are very high. we have the most antibusiness, antigrowth, antiupward mobility administration in my lifetime and you're seeing it in droves, prices continuing to go higher. probably slow down some but it is going to hurt. i think it will affect the market. but that is for down the road. i will let you know if i see differently but so far so good. i expect all the big indices to break out into new yearly high ground in the next few weeks. stuart: okay. we'll take that, gary. i'm not going to argue with it
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at all. i'm climbing the wall of worry. i am almost on the other side. gary kaltbaum. good stuff, gary. see you. >> take care my friend. stuart: price of gas still going up. we have the new national average for a gallon of regular is $3.37. that is up $1.27 per gallon from the same day last year. jeff florke will join us now. -- jeff flock. gas station in pennsylvania. telling us about drivers telling you about high gas prices cutting into their holiday shopping? reporter: everybody is ticked off about it, stuart. the thing is, i point this out, people are concerned about it, but they do have the money to spend on it. this is the wawa station in suburban philadelphia. you know, it hits everybody. you got a truck here, a business truck. they have got to fill up too in addition to everybody else. people do have jobs though. the worst thing if you don't have a job you got to spend
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money on gas. you're absolutely right, yes, this is taking away what might be spent on other things. take a look at the numbers, study just out, every dime of increase in gas prices, that translates to 1.3 billion with a b dollars of less discretionary spending leading up to christmas. they say right now we already potentially cost the economy $35 billion in discretionary spending at christmas, money you're not going to be able to spend on gifts, spending it filling up the vehicle. talked to an did i lipow, one of the oil gurus, this will continue. not only that, that is just half of it. listen what he said. >> not only are higher gasoline prices affecting the consumer's ability to spend, the higher natural gas prices are also going to eat into their budget because natural gas is going to be used for home heating as well as per electricity power
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generation. reporter: that is another bite, stuart. when it comes to oil prices which is driving this whole thing, take a look at these numbers. i know this is close to your heart. you have advocated for more spending on exploration. well, right now, you look at the numbers, over the past five, six, seven years, in 2014 we spent well over $700 billion on oil and gas exploration. by 2018 it was down to 483. this year another $150 billion less. exxon just yesterday, comes to light they're considering ditching a couple of oil and gas exploration projects. if you don't find new oil, you will still have a crunch, you will still have high prices. might be around for a while, sir. stuart: i remember it was july of 2011 when gas prices hit their all-time high. you were on the air with me as i recall. it was 4.11 a gallon.
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now it is 3.37, not that far away and climbing every day. troubling for a lot of people. reporter: that is what they say. stuart: jeff, thank you very much. see you real soon. i want to follow up what jeff said about exxon. they may be abandoning some of their major oil and gas projects. is this because they have environmentalists on the board of directors? lauren: they have new board members, three new directors. they're concerned about the traditional projects. they have two they're discussing right now. one in vietnam and one in mozambique. they're discussing whether they go forward with these. this is the new dynamic we're in, when we don't have enough energy, there is shortage of fossil fuels, energy costs have gone up. exxon voting at the end of the month how they will spend their money over the next five years. if these two specific projects which would add to the world's supply are worth spending on, they can also keep their pledge of cutting back on their carbon
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emissions. stuart: i think i got that but the environmentalists really want less fossil fuels. >> they're powerful now. they're in a bind. they have to do both. stuart: got it. thanks so much. let's get to california. in-n-out burger temporarily shut down in san francisco after they refused to check customers vaccine cards. meanwhile shoplifters, they're terrorizing the city. harmeet dhillon a top republican lawyer lives in california, will join us to discuss what i call california craziness. harmeet joins us next hour. tired of returning to the policy for everyday items? that could be a thing of the past. walgreen's testing drone delivery to drop packages at your door in ten minutes. well tell you where they're testing that out. that is next.
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stuart: not much movement on the markets. the dow is down 80. nasdaq is up 60. wall greens, very interesting story here, they will begin testing drone delivery. they are going to say they can get an item delivered to your doorstep in ten minutes. that is a big deal. where are they rolling it out? lauren: in texas. the two popular and growing towns in north dallas where there is lots of traffic. walgreens teaming up with google's wing and make deliveries within four miles of the walgreen. this take as big delivery van or truck off the road. stuart: do you know if they established corridors where the drones can fly down or go all over the place as it were?
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lauren: for now, i think it is experimental. i think eventually there would be corridors, right? stuart: there would have to be. lauren: to do this in more cities, bigger cities, bigger volumes. stuart: i wouldn't think it would be done in cities. rural areas first. lauren: well, right, because the stores are hard to get to, is that your argument there? stuart: no. lauren: why rural areas. stuart: can you imagine a drone delivery in new york city? lauren: you mean so it doesn't hit buildings for the drone safety itself? stuart: dropping on somebody's head. lauren: they want to fix traffic issues. stuart: i don't think so. have to be rural areas. lauren: open areas where all the test something going. i think eventually up and running goes to more populated suburban areas. stuart: maybe you're right. you're probably right. lauren: who knows. stuart: you're always right. here is one of the most important news items of the day, existing home sales up 7% in september, selling annually on an annualized basis 6.289 million homes.
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that is very strong. the median price of a house over the past 12 months has gone up 13% to 352,800 bucks. mitch roschelle is our real estate guy, he joins me now. that doesn't show any signs of a cooling housing market. that is a strong market, isn't it? >> it is. i think, stuart, what is driving it is the fact that rate ross going up. interest rates are going up. mortgage rates are going up. that has been a catalyst for those buyers who can actually find a home to buy but what is interesting, if you dig into the numbers, first-time home buyers, we've talked about this in the past. first-time home buyers are sort of evaporating from the market. last year they, this time last year they represented 31% of all buyers. now it is down to 28. i think what is happening. those with less pocketbook are getting squeezed out. those who have more pocketbook are able to buy houses if they can still find them.
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stuart: am i right saying high-end homes, a lot of homebuyers are paying full cash, that is accurate? >> 100%, cash is in some markets half of the volume of homes being purchased. actually what many of those buyers do, after the closing because they have the means, they're actually getting a mortgage after the closing through their stock brokerage firm in many cases just to take advantage of the only last remaining tax benefit that exists out there. but cash buyers are ruling the roost. if you dig into the numbers deeper, you find the lower priced homes, those below 250,000 are where we're starting to see a little bit of a bigger slow down than with the higher priced homes. the problems these are median prices we talked about. so they're heavily skewed by bigger homes. stuart: 352,800 bucks for a median price for a home sold in the last year, that's strong, up 13%. mitch, great stuff as usual. thanks for being here. see you again soon.
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>> see you soon, stu. stuart: i have a promo for my own new show. here we go. don't forget to watch my new show, "american built," on tonight at 9:00 p.m. eastern. i will give you a quick preview. roll it. >> for centuries astro existence. it might reveal the secrets of the heavens. ♪. >> the greatest scientific instrument ever built. stuart: if they could just get it off the ground. >> always that chance that something bad will happen. stuart: a tale of vision, eureka moments and daring do. the hubble space telescope. the hubble space telescope nearly did not get to work at all but eventually they got it fixed. "american built" tonight and monday nights, 9:00 p.m. even eastern here on fox business. senator mike braun, indiana
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police recruiting chicago cops who lost their jobs over vaccine mandates. the senator joins me next hour. poaching police from chicago. the virginia's governor's race is now a dead-heat. a major concern among virginia voters? education. watch this. >> obviously we're concerned about the policy because indoctrination has no place in education. >> it is important to folk on black excellence, not black trauma. when you teach everybody about our history, everybody can prosper. stuart: that is virginia voters right there. mark meredith is on the ground in virginia with latest on gubernatorial race. he joins me after this. ♪. this is wealth. ♪ ♪ this is worth.
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♪. stuart: virginia governors race is now a dead-heat with democrat terry mcauliffe and republican glenn youngkin tied at 46%. mark meredith is in virginia. that is where vice president harris will be rallying for mcauliffe later tonight. what is the latest on the ground, mark?
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reporter: stu, if you're a fan of drama we have plenty right here in virginia where this battleground state is showing a race simply tied right now. wasn't that long ago democrat terry mcauliffe was leading by a few points. that is no longer the race. the poll by monmouth the race is essentially tied with both men at 46% support. youngkin's numbers rise within three points the last month. monmouth says there are a have you different reasons. gridlock out of d.c. impacting the race. the second being missteps on mcauliffe's part. mcauliffe is hoping to get a boost from the vice president when he stops by. he is more than thrilled to have her on the campaign trail with him. >> i love the vice president. she will do, i think we've got two or three events, we have a couple she is planning on. i known her a very long time. we have a great relationship. i'm excited. she has done already some things for campaign. reporter: it wasn't that long
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ago we had mcauliffe telling his own surrogates that he felt the biden-harris sagging numbers were bringing him down. he might have to campaign away from washington. he is bringing biden administration to northern virginia. senator tim kaine says while the president's agenda remains in limbo remains popular. >> i think if we get the infrastructure bill that would be helpful terry mcauliffe returning to the governor's mansion. he said as much. my belief he may be in a position -- reporter: we'll see some more high-profile events including former president obama on the stump this weekend. stu. stuart: thanks very much. our own lawrence jones spoke to voters in loudon county earlier. what they say is the top issue. >> obviously we're concerned about the policy because indoctrination has no place in
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education. >> it is important to focus on black excellence, not black trauma. when you teach everybody about our history, everybody can prosper. >> you don't like these mandates are happening in the schools? >> i feel like it is really immoral. it is an evil mandate. you shouldn't be forcing things. number one way to get noncompliance is forcing things on people. stuart: education is the issue in virginia. ian pryor, can youngkin the republican win the election on education? >> looks like education is the number one issue in virginia right now. one of the great things about representative democracy if you have candidates focused on their potential constituency, listening to them, taking what they're saying running on it, those are the ones that will be successful. we obviously haven't seen that from terry mcauliffe. he wants to be the candidate for politics where youngkin is trying to be the candidate for
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the public. one was to be political servant, one wants to be a public servant. that is why it is so close. in these type of races usually breaks for the challenger at the end. while mcauliffe is not in the governor's mansion, he is essentially an incumbent because northam is there. stuart: do you think vice president harris will help terry mcauliffe when she appears with him tonight? >> i think it will help maybe with his base but i'm not sure it will bring any independent voters in or you know moderate democrats that are seeing the party move away from traditional core values of the party. look, she is very unpopular with independents. she is very unpopular with republicans. so i'm not sure her coming in really will help him move the needle when it comes to election day. stuart: i wonder if, are you a vocal minority in virginia, in your stance on education or do you think you're rapidly becoming the majority? >> i think we're the majority. you look at some of these school
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board meetings, if we're the minority, how come it is always, 80% people protesting these policies at schools or you know, activities of school boards? if we're the vocal minority, then how do we have all of this momentum? how are so many people coming on to our side? so you know i think that is something that the left tried to push early on and they're seeing they vastly underestimated the power of parents and their resolve. stuart: ian, thank you very much for being here again. that election is real close. we have got the momentum. thanks, ian. >> thank you, stuart. stuart: what is head, joe concha, harmeet dhillon, indiana senator mike braun, "wall street journal" guy, dan heninger. mit disinvites a professor because he criticized the diversity, equity, inclusion movement. if you're not in line with the woke crowd, you can't teach, not even hard science. "my take" on that is next.
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the majority of senators in the senate are a no one reconciliation. >> 100% move from the range from able to the low this summer would give us 100,$000 on this breakout. >> we have a chance for melt up into the holiday. above the highs we are up against right now is in the cards. ♪♪ ain't no stopping us now ♪♪ we are on the move ♪♪ stuart: 11:00 eastern time, thursday, october 21st. we have a turnaround for the nasdaq up 64 points. 15,185, bitcoin, record high yesterday dropping today back to 63-8, it was 67,000 yesterday and the 10 year treasury the yield is going to
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one.67%. now this. this is the perfect example of the dangers of cancellation. mit has disinvited professor dorian abbott who was supposed to deliver prestigious lecture today on climate. he's out, not because he doesn't know his stuff on climate oryza climate skeptic. he has been disinvited because he criticized the diversity, equity and inclusion movement, you can't do that. that the new name for affirmative action. you may know your science but if you are not aligned with the woke crowd you can't teach. political correctness has invaded the hard sciences as well as the liberal arts. physicists, biologists, chemists, watch out. you must be ideologically pure. if you have ever written or said anything which the pc dictators don't like, you won't get the job. a recent list of university job
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openings for physicists required applicants to demonstrate an explicit active commitment to the woke mob agenda. before you get the job you must prove you are actively woke. what do you think that does to quality of science and science education. it can't be good, the third hour varney just getting started. joe concha joined me now. the woke mob demand ideological purity even in the hard sciences. i think that is absolutely terrible. >> this shows where the education system is going as far as our kids and i have a second-grader, a kindergartner. i'm not near the college level but i see the future and it is
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horrifying in terms i keep checking of universities i'm not going to send my kids to because i see what is being taught there, they are not getting the basic blocking and tackling around math and science and reading, the us is ranked 20 fifth in the world. china is number one. island is 11. we are 20 fifth because we are concentrating on all this other stuff and only one side of the perspective on xyz is being allowed as opposed to is in this case you brought up with this professor here, he has to be ousted, we can't allow that kind of speech so we have right speech and wrong speech instead of an open forum to learn different things, different perspectives and that is dangerous going forward because it is indoctrination at this point. stuart: i liked your op-ed, the title is biden and democrats risk everything unless they follow the clinton pivot. what is the clinton pivot and
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how could biden follow it? >> there was bill clinton before there was hillary clinton. bill clinton in 1994 was on this day, october 21st, 1994, 41% approval. his party takes a beating in the midterms, 54 seats lost in the house, 8 in the senate, democrats lose control of both chambers, clinton proceeded to go back to the middle. here's what he said in 1996 in the state of the union earlier that year during the election year. we know the government does not have all the answers. we know there's not a program for every problem. we have worked to give the american people a stronger, less bureaucratic government in washington. the era of big government is over. can you imagine president biden remotely declaring something like that, he goes on to news with newt gingrich, we achieved a balance budget which is a
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foreign concept now and just try to picture president biden bucking aoc at the squat at the far left faction of the democratic party's day doing the same pivot back to the middle, not going to happen and that is why we see quinnipiac, the president is polling at 28% approval among independents, people to decide elections, a red tsunami is coming in the midterms, inflation, crime, border, afghanistan, educational going south for this president with no answers on a horizon. stuart: take a look at the president's actual performance, when he delivers a presentation, watch this because it seems to me the president just rambling delivering his speech yesterday. role the could please. >> take the boy out of scranton but can't take scranton out of the boy. if men would have a big breakfast. i would write every day, i commuted every single day for 36 years as vice president of the united states. the american people have never,
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ever ever let the country down. you talk about the number we shouldn't even talk about the numbers. stuart: what is your judgment of his performance at the speech yesterday. >> i look at the content more than the performance. he's never been a good public speaker but looking at the optic is very awkward to watch, he goes off on tangents where you don't quite know where he is going or why he is bringing it up but then he says, the key take away, we don't, we shouldn't even have to talk about the numbers. is talking about his spending plan, this is the president insists to the american people that $3.5 trillion in spending, more like 5 trillion when you keep the gimmicks out will cost the american people $0. he says this while core inflation is that a 30 year high. spending $5 trillion, this is new money, is going to reduce the debt and be a middle-class
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tax cut? these things are demonstrably false. they are lies and he needs to be called out on it but he keeps going back to the talking point and it is why when jason chaffetz pointed out a majority of senators still reject this spending because the math doesn't add up and the president doesn't have the ability to make a coherent argument around it it hasn't done a sitdown interview since before labor day. if a halfway decent journalist gets in front of them they will press him on these talking points and he's not going to have an answer that is why he is running to cnn and the save space over there to do it townhall tonight instead of sitting down with the real journalists who can follow up on questions and ask him to be specific, how does all this math add up, the answer is it doesn't, his habit is no it. >> there's 3 more years to go. i to take a look at bitcoin,
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the cryptos, down today but they have been on a surge recently. how do you account for the surge in cryptos which, 67 grand on bitcoin. >> the surge is a direct result of what we saw between a couple etfs that have come to the market bringing all this excitement, the sec and the fed are starting to pay attention, is alive and well whether it goes to 100,000 or 60,000 is not necessarily the point. the issue is all the excitement and everybody is talking about it. i was in a conference yesterday with investment advisors, everybody talking about how i get in and how am i doing and can i predict myself, that is creating excitement around it. stuart: are you involved in this, what about your clients? >> yes.
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ethereum out of the two of them. that is where i make it directly, not -- i do bitcoin and is for the -- 3% to 5% of your portfolio which i would tell anybody to do. if you were a 20-year-old going all in okay, you have 40 years to go. i'm on the back 9, don't have much time to go so i will keep it between 3% and 5%, clients do want exposure but who are they, what kind of exposure do they want, are they happy with this, do they want to own the assets, those are the conversations you have to have. >> 30 seconds, a client comes to you and says what is the risk in buying bitcoin now? 20 seconds. >> while it is an unproven
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asset, regular questions around it, i don't think so. is there lots of risk? there is and it is really tori risk and acceptance risk is where it is going to be but doesn't mean we shouldn't be in it. stuart: we hear you. i like your style, lots of energy. we will see you again soon. let's look at individual stocks, southwest airlines down today. they did earn an earnings report. lauren: the chaos and cancellations cost them $75 million lost revenue and vouchers they had to give out. they looking to hire 5000 workers despite backing off the vaccine mandate, they will be busy. the pilots union is warning southwest and american airlines pilots focus on flying, focus on safety, not the vaccine mandate because there's a lot of chatter among the union pilots. stuart: bath and body works moving today.
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lauren: they are moving. there best position to grab market share this holiday season not because they make hand sanitizer but domestic manufacturing. they import from china and vietnam and that is their packaging. they are in a sweet spot, 280% this year. stuart: digital world acquisition, something to do with mister trump. >> on news that donald trump will merge with the to launches new social media platform truth social next year. big interest in standing up to big tech. there is demand for that but very buzzy, and the redit crowd. and other means stocks are popular, digital world acquisition. stuart: i have no idea whether retail investors were plotting into the meme stocks, are they pro-trump or anti-trump, no idea. >> not sure it matters because
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he creates a lot of tension. when you are investing -- stuart: almost doubled on digital world acquisition. we suggested yesterday that senator manchin change parties and become a republican. he call that idea bs and just spoke out again about it. we will play the sound for you. san francisco shutdown and in and out burger place for refusing to check vaccination cards. why is policing a burger joint a top priority in a city with a major homeless and shoplifting problem? the port of los angeles and long beach operating 24/7 unloading cargo ships but not enough truck drivers to hold the goods, from the border of los angeles for you. ♪♪ all right ♪♪ make it easy ♪♪ (crowd cheering) - bito, bito, bito, bito!
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- [announcer] bito, the first u.s. bitcoin-linked etf.
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stuart: new highs for large companies. netflix just hit an all-time high on pace for a record close, 647 on netflix and then total also on pace for a record close, $894 per share. microsoft doing well again, $309 a share as we speak on pace for a record close if it closed at that level. then this. the backlog and the california ports new spilling out onto land. shipping containers jumped into nearby neighborhoods. there are not enough truck drivers to cart them away. kelly o'grady, is anything being done to fix the problem? >> reporter: there is.
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you highlighted the tracking peace and that is critical. 108 ships were waiting to unload off the coast but this is in support problem. we are operating 24/7 so every part of the supply chain we are seeing issued. >> easy to say gates are open at 4:00 in the morning but who will show up, not so easy to say to a trucker, good support at 1:00 in the afternoon, show up at 4:00 in the morning, that is going to take time to have that discussion and for everybody to buy in. >> reporter: consumers are feeling the pain. 71% of voters reporting the store shelves, 55% seeing slower delivery, 83% say grocery store costs are increasing and to address that pain california governor newsom issued an executive order as was the container storage to move all the cargo you talked
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about out of the port. the order direct state agencies to find land for short-term container storage and identify trucking routes so states can temporarily exempt weight limits on the grounds. this is an saw the shortage of drivers in the industry. this was identified in 2015 and in order to solve these issues long-term we need to reach what he call that amazon state of mind so until every part of the supply chain, ports, storage, trucking reach that 24/7 operation you may see those cargo containers in your neighborhoods. stuart: we are not there yet. thank you very much indeed. in and out burger in san francisco was temporarily shut down after refused to check customers vaccine cards. harmeet dhillon is with us, top republican lawyer in california, welcome back to the show. explain this.
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san francisco will let shoplifters run rampant, riot in fact would bring down the hammer on a burger joint. can you explain that? >> that is the culture of san francisco. i live four blocks from this in and out burger and two weeks ago, people on the apps next door complaining about the fact that in and out was not checking vaccine cards. there that his people were calling 311, people calling the police to shut them down. right outside that in and out burger you are free to shoot up heroin in your arm or pass out or set up a tent. that is the hypocrisy of big cities today particularly san francisco. if you are seeking a meal at in and out which is very tasty. i like the animal style double double, it is not the healthiest meal. you are talking mainly tourists going there and you should not expect restaurants operating
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right now on very difficult conditions with razor thin margins with prices going up, to hire new staff to be bouncers at the door. i'm glad to see they took a strong stance that we don't want to be there to be police for this enforcement mandate. stuart: at the end listen to be why will ask why don't you move and then i will ask about california school system which told parents their kids have to eat lunch in the rain outside because of covid. parents complained of the school will bring the kids inside but it seems the schools in california, out of control with this covid thing. >> i went to court, filed a lawsuit in federal court we ultimately won at the ninth circuit on the issue of shutting down the schools. we had a long period of i will call it child abuse in california, keeping kids at
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home, they are getting sick from over reading and not exercising, not getting the education our taxes pay for and on top of that, we subject them to potential illness, standing out in the rain to eat for what purpose because of the hysteria of vaccinating teachers, i am glad to see parents all over the country standing up to the type of tearing and ridiculous decision-making dictated by teachers unions. stuart: why don't you move? >> why don't you move? we are both living in liberal areas. this is where the jobs are, where the courts are and i find it beautiful here. i don't like california. stuart: good stuff. the us again soon. stay in california. we want a good report from california. another promo for my new show. don't forget to watch my new
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show called american built, it is on tonight. we will be looking at the polio vaccine. very timely. shutdowns, quarantine, hospitals at the breaking point. a disease that struck without warning. >> we don't know where into to don't know who and it could be your child. >> the gamble of a lifetime. >> america held its breath. stuart: the story of the largest medical experiment in history. >> if they succeeded they would be part of saving children in america from polio. they were on a mission. stuart: and what it gave us. the polio vaccine. it is a great story. the polio vaccine, terrific story of success. american built heirs tonight and monday night, 9:00 pm eastern on foxbusiness. i'm not sure of the pronunciation, mesa air, and airline, they are launching
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their own drone delivery service. what is an airline doing getting into the delivery business? >> you don't have the same amount of flyers as 2019 just yet in 2021 for the pilot program delivering food via drones in nevada so starting food and beverage deliveries by year's end. mesa air is a regional airline based in phoenix, they will fly four drones made by a nevada company with options for another 500 drones in the next four years and might expand service in nevada and across to new zealand as well. new zealand. your son lives there. amazing he could get food and beverage delivered by a drone. stuart: i can't see them doing drone delivery in new york city for a long time. >> the faa restrictions and the air capacity.
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stuart: dangers of dropping something on someone's head. thanks very much. now this. it was procter & gamble. another big company has announced a big price hike. your grocery bills are going up again. my next guest has a message for unvaccinated police officers in chicago, come to indiana. senator mike ron says these officers deserve respect and don't deserve to lose their jobs over a vaccine mandate. senator ron on the show next. ♪♪ i'm so glad we did this. i'm so glad we did this.
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makes medicare worth talking about. now it's your turn. call the number on your screen and talk to a licensed humana sales agent about how you could benefit from a humana medicare advantage plan. we'll take the time to get to know you and give you all your options. and you'll get a free medicare decision guide just for calling. there's no obligation, call today. humana, a more human way to healthcare. stuart: what you are looking at is fox square in the middle of new york city. quickly to the markets, the dow is down 100 160, a mixed market. how about bitcoin and other cryptos?
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>> we had 67,000 last night. if you can't buy into the pro shares, the etf starts trading tomorrow. the fastest $21 billion for any etf in history. interest is off the charts and elon musk, a picture calling for 69,000 for bitcoin pricing and you covered that, peter teal should have put more money into crypto currency with the disruptor type. stuart: tell me about unilever, gigantic global corporation. they are raising prices and that will hit grocery stores.
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>> if you are showering, in some cases talking 4%, the sharpest price increases in a decade so that includes prayers ice cream, $25 billion of annual raw materials and tracking costs, logistics cost of been impacted by rising inflation. when they pay more you prices on to consumers. stuart: that hair problem with the microphone. nestlé experiencing the same thing. stuart: if you walk into any supermarket down the aisle they are dominated by procter & gamble, unilever and nestlé. they are raising prices. >> palm oil, the aluminum hands. stuart: indiana is recruiting
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chicago police officers. mike braun is back in the great state of indiana. there are no vaccine mandates for cops in indiana. >> not in indiana. we don't like this top-down mandates. when you have places like chicago, they have a state government, people will say enough is enough. my hometown which is 5 hours south of chicago had an inquiry, 16, 17,000 people, the local fine is open for folks to do the hardest job in the country and when you put these crazy ultimatums like either get a vaccine or lose your job that is government in overdrive
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loosen places benefit if you are nearby, come to us. stuart: that was a commercial for the police force of indiana. your colleague, democrat joe manchin spoke out about speculation he might switch parties. role tape. >> if i am an embarrassment to my democrat colleagues in the democrat party, chuck schumer and i said maybe, a moderate centrist democrat, i would switch to be an independent, i would be caucusing with democrats. we would apparently he's not going to become a republican but i think he should. what are you? >> he might be sidling a little bit to a new political status. i ran with him in 18. he was in a tight election,
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with not near the stuff you need to defend if you are a democrat colonel -- federalizing everything, what happened in afghanistan, the southern border plus west virginia has one of the most conservative electorates of any place in the country. his governor used to be a democrat, governor justice. maybe he saying one thing might do another. stuart: senator manchin says the child tax credit is being negotiated. i think that's an entitlement program. i am pretty sure you oppose it. where do you stand on it? >> the business of using covid to dramatically change what was the best economy that was working pre-covid, i'm glad he has reservations about it. so much money has been spent that people have been saving it on the sidelines, incentivizing
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stay home and watch netflix. that's not the work ethic this country was built upon. stuart: what do you think of the odds we might get nothing, that the democrats are so divided and lack the votes that you don't get anything, what are the odds? >> political enterprises and this is their growth business and pelosi runs the show. she had to decouple the two bills which was embarrassing, this is going on much longer than any of us imagined. there's a point if manchin is true to what he says, that he's going to hold firm maybe into next year, kristen sinema is not doing anything on taxes. i hope to see the whole thing fall apart. we spent almost as much if not more in one year extra than we do in a normal year. we are borrowing most of that money. soon-to-be $1.5 trillion in structural deficits.
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have a business partner and get off of that trying to drive everything from dc, won't work. stuart: definitely from indiana. i can tell. senator braun. cs in new york, would love to see you. see you again soon. next up, wall street journal guy dan heninger, democrats have been hijacked by the socialists and pretty sure he will agree with that. we should you elon musk's boring tunnels under the las vegas convention center, just got the green light to expand those tunnels. we will tell you the new plan after this. ♪♪
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stuart: just getting this. pentagon says the army and navy
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held 3 successful tests in an effort to advance development of hypersonic weapons. a response to china showed last week. we suggested yesterday senator manchin change parties, he calls that idea bs and if he ever switched parties it would be to the independents. it was a long shot but the more i see moderate democrats trampled, the more sense it makes for these vilified democrats to consider moving to the other side. senator kristen sinema opposes the massive tax hikes. sound like a republican to me. moderate josh care heim wanted infrastructure spending like the republicans in the house and senate but has been slapped down by speaker pelosi and the squad. he represented a healthy district in new jersey. his constituents pay the highest income tax rates in the industrial world. if you want to get reelected he
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might change that. they will the roost, no room for manchin, cinemas, switch parties, join the republicans. if you want to kill of socialism that is how you do it real fast. what does dan heninger think of that? switch parties, kill socialism. what do you say to that? >> let me give you an alternative vision of that because the politics are fascinating. make no mistake, senators kristen sinema and manchin are the most powerful democrats in the united states, no question. they hold the future of the party in their hand. i think they probably both have their i on the midterm elections next year. things are not going well for the democrats. look at the awful polling president biden has been reflecting in the last week or
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so? the legislation is failing. two possibilities next year. if the republicans take control of the senate next year and do so significantly i think it is indeed possible one or the other would switch to the republicans and be in a significant majority of have a role inside those parties. if that big a switch but if the democrats do fail with this build back better plan, if the progressives are repudiated in the midterm election i think it is possible senators kristen sinema and/or manchin might think about 2020 were presidential run. there's going to be a civil war in the democratic party if all this falls apart in the midterm elections, the progressives will be discredited and the moderates will be on the rise, they will be looking for leadership. guess who that could be, senator manchin or senator kristen sinema.
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stuart: the idea they should become republicans is a nonstarter. your idea is much better. next year they could be running for the presidency in 2024 or moving to the republicans at that point. good stuff, original thinking, we appreciate it. let me update you on las vegas was they've given elon musk's boring company the go-ahead to build the vegas loop. that could be huge. >> it is 25 times bigger than the one under the convention center. they will establish a new route, new tunnel for the vegas strip, the home of the las vegas raiders. it will be long, it will be wide, they will have room for 700 tesla cars moving 50,000 people per hour, it will cost $20 per trip and that will be more than taking the bus or
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public transport but less then and uber ride and they are not using tax dollars, this is a private venture bringing in private money on board. it must be for profit at some point. local builders and workers, florida and texas next for the boring company and hitting a record high this morning, fantastic earnings report. stuart: it is an amazing guy. i'm sorry i put him down a few years ago. >> do you know he is the richest man on the planet? wi-fi his net worth was $250 billion, a quarter of $1 trillion, $50 billion more than jeff bezos coming in at number 2. these guys care about this stuff because is about them. how do they rank in the world's richest but tesla deserves this valuation and pump, this rally. have you looked at the metric margins at 28%, despite the fact that sales prices went down 6% was making more margins
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on lower prices with $1.3 billion in cash. stuart: and he is worth a quarter trillion. >> all the same after 100 million. stuart: you have a story on the nfl launching a campaign to treat gambling addiction. >> $6 million, responsible vetting campaign, three years, 45 million americans say they will bet on nfl games this year. that will be spent on in line game messaging, social media outreach and also it is important to target those that are too young to legally but so what do they do? they go off line instead. that is dangerous. 50% have a gaming gambling issue and also the rise of sports adding, fox bet etc. expansion and more state legalizing sports betting, want to make sure you protect those who don't get too involved. stuart: gamble responsibly like
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drinking responsibility. smoking pot responsibly. is that coming soon? let's give them a sense of the overall market. put up the dow 30 stocks, the predominance is selling, red is winning out this morning a dow is down, look at that level, 35,400, not that far away from the all-time high. then we have a private school in miami that says students who get the covid vaccine must stay home, you get the vaccine you got to stay home for 30 days. the school is concerned vaccinated students could in fact the unvaccinated. any science behind that? i will ask the ceo next. ♪♪
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stuart: the said the academy is ordering students to stay home for 30 days if they get vaccinated arguing those students could infect unvaccinated children.
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the school's ceo joins me now. where is the science that says vaccinated children will infect unvaccinated children? >> first of all the media is doing what they do best, spinning one little part of my email and neglected the rest of the email which talks about as being a community that is all about our immune system, our well-being, natural immunity, a holistic way of life, kid the organic, gluten-free. stuart: you have been on the show and i heard this but i asked a very specific question. where is the science that says vaccinated child can infect and unvaccinated child. >> where's the science the messiah but has 99.997% recovery rate from covid should take a shot that hasn't been fully vetted? this is crazy.
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stuart: a simple question. can you answer it? >> you are asking the wrong question. stuart: it is my job to ask the questions i think are valid. for your benefit i will re-ask the question. where is the science that says a vaccinated child will infect and unvaccinated child? >> have you read pfizer's protocol document, page 67 through 69 where it clearly states that a person who is unvaccinated may be impacted by people who are vaccinated. this is included as an adverse impact and is part of the research. science hasn't been concluded either way. stuart: what about teachers? are they allowed to be vaccinated? are the teachers in your school -- >> there is no science, we are doing the research as we speak. that is what the cdc should be analyzing. what about kids getting myocarditis after the vaccine or dying after the vaccine? have come the media is not
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looking at these parts? stuart: the kids getting heart problems have not been infected by vaccinated kids, have they? >> it is irrelevant. there are kids dying from the vaccine. stuart: i just wanted a simple answer and i've not got it. i am out of time. i am sorry. i'm out of time. i have a hard break coming up. i've got to make the money. >> you don't want to do your homework. stuart: we will see later. now it is time for thursday's trivia question unlike the question i just asked was what doesn't answer. when laid out how far does the human body's circulatory system stretch. the arteries, veins and capillaries, we have an answer for you if you want it after this. - [announcer] bito, the first u.s. bitcoin-linked etf. pier.
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i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. life is for living. let's partner for all of it. i'm so glad we did this. edward jones stuart: here is the question, when laid out how far does the human body's circulatory system stretch? arteries veins, capillaries, right. here is the answer. 60,000 miles. that is enough to wraparound the either 2 1/2 times. by the way the smallest blood vessel measures five micro meters. that is the quarter of a size of the strand of a human hair. susan you had a minor in college in bio chemistry i believe? >> yeah. stuart: did you have any idea your intestines stretched 60,000 miles? >> didn't add the colon in there. i did know it was long enough to
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go around the earth. i didn't know two times. that i was a bit surprised. >> you're an honest laid ditch. thank you very much. don't forget to send in your "friday feedback." email us at varney we enjoy doing it. we got a lot of responses. send something in. it will be fun. look at this ashley webster in for neil cavuto. you traitor. well-done. ashley: thank you for the image of 630,000 miles ever intest teen wrapped around the world just in time for lunch. i will take it here. i'm ashley webster here for neil cavuto. we'll tell you about it all. plus gas prices over 7 bucks? yep, you heard it right.


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