a market mover. completely reversed this market. >> we've got the fed coming out at 2:00. let us hope they do not raise e rates, i'm certainly positioned for that. maria: yeah, most people are not expecting a hike. >> if he does say anything about, i think when the q&a starts at 2:30, that'll be interesting. that's really the only true news, i think, that could come out of this afternoon, and he'll be asked about it, but how he answers, of course, would be very telling, and the markets could react. maria: any signal we get for the december meeting will be critical. >> and ukraine was a huge factor in the in the fed not raising rates in march of 2021 is, or them waiting, keeping it at 25 basis points and not 50, so we'll see if they say anything about israel. it could be really influenced by the gaza war. maria: such an important point. thanks so much, everybody. have is a great day, we will see you again back here same time, same place tomorrow. right now we send it over to

"varney & company." stu, take it away. stuart: i shall, indeed. good morning, everyone. two months til the first republican presidential test the, and the fox power rankings are in. here we go. donald trump keeps his strong lead. ron desantis stays neck and neck with nicki halely. she's moved up to third place. ramaswamy, christie and scott are many trouble. they can't gain traction. lauren's going to have detail in just a moment, but the bottom line is trump frozen in first place. the war and the speaker's battle distracted voters from the gop contest. war news. 11 israeli soldiers were killed last night as troops pushed further into gaza. a number of civil grabs were kill -- civilians were killed after what is claimed to be the an attack on a refugee camp. israel refutes that claim. they pledge to hunt down and kill the terrorists from october. th. -- 7th.

a trickle of foreign nationals have crossed into egypt, that that's the war news. here's the market news. stocks down a little as we start the brand new month. dow off 50 points, 2 down for the s&p, 6 down on the nasdaq. the fed, widely expected to leave interest rates unchanged today, investors paying more attention to, treasury yields and earnings. the yield on the 10-year staying close to 4.90, we're r your at 4.89, the 22- year, 5.06. oil staying in the low 80s, 82.95. gas, though, keeps on inching down, $3.46 is the arm on regular, down 11 cent over-- 1 credibility overnight. $4.45 on diesel. bitcoin at 34,7, actually, a little higher today. poll sticks -- politics. a profound splint in the democrat party. the pro-hamas lobby is having

some impact. biden is losing support among young people and minorities. a 5,000-strong caravan is heading north through mexico to our southern border, and fbi director christopher wray warns the terror threat existence american has risen to a whole new level, his words. on the show today, a young jewish student who spoke out on campus, now he has a bodyguard. presidential hopeful, senator tim scott, he'll join us. he's way down in the power rankings. for him, iowa is make or break. it's wednesday, november 1st already. "varney & company" is about to begin. ♪ ♪ stuart: we're going to start morning with toll politic. fox just released its power rank, lauren is with us. lauren: good morning. just over two months from iowa and the first votes of the 2024

election. donald trump in the commanding lead, nationally he's got 59% of republican support. he has never dipped below 40 in any of the early states. look here. ron desantis and nikki haley are battling it out for second the trump, but it is growing pains for vivek ramaswamy. he's down as haley goes in. chris christie and also tim scott. and as you can see, the other three are on the outside, and they are looking in at a race that's been overshadowed by the hamas attack on israel. that is making it increasingly difficult for contenders to the get noticed when the leader, donald trump, has a proven track record of being pro-israel. quickly as for the money, trump taking in another $24.5 million in fund raising for the third quarter. look at desantis. he has $11 billion, but his haul dropped off by 44% from the second quarter. haley has $8 million. gop primary debate one week from

today. stuart: how about that? comes fast, doesn't it? thanks, lauren. jason chaffetz joins us now. all right, jason, our power rankings have trump as the clear front-runner, desantis and haley neck and neck as his challengers. can either of them catch trump as the field narrows? >> well, you know, the longer it goes on, the harder it's going to be. donald trump is clearly way out in front. i don't think it's a mistake that the top three people have solid foreign policy experience given the tumultuous nature of what's going on overseas. obviously, the world under donald trump was a very safe place. they were signing peace deals when donald trump was the president of the united states with. but, you know, ron desantis has military experience, nikki haley serving in the u.n. under donald trump. i don't think that's a coincidence. and there's the not much, you know, when do these people make a mauve in there's a -- a move? there's a debate next week. perhaps ron desantis' biggest

opportunity is november 30th on fox news, a debate hosted by sean hannity where he, you know, ron desantis will debate gavin newsom, the governor california. that will be, perhaps, the most-watched republican event that we will see coming up in november. stuart: i think you've got it right. could be iowa or bust. jason, would you stay there for a second? we want to do another subject, and we'll get back to you in a moment. israel, the defense forces there, idf, confirmed a strike targeting hamas in a neighborhood within gaza. lauren, take me through the latest on the war. lauren: overnight, israel struck a neighborhood in gaza that targeted hamas' senior leader. he is dead. so are many others. now you have increased calls for a ceasefire, but secretary of state antony blinken says a ceasefire if only benefits hamas. he is going to the israel on friday. the u.s. is sending another 300 troops to the middle east after 27 attacks on u.s. bases housing americans in iraq and syria in

the past two plus weeks. stuart: thanks, lauren. fbi director. >> christopher wray warned of the rising terror threat right here at home. watch this. >> the ongoing war in the middle east has raised the threat of an attack against americans in the united states to a whole other level. we assess that the the actions of a hamas and its allies will serve as an inspiration the likes of which we haven't seen since aisis launched its so-called caliphate several years ago. in just the past few weeks, multiple foreign terrorist organizations have called for attacks against americans and the west. stuart: i want to bring jason chaffetz back into this. i've got a question. can you imagine what happens if there is a terror attack here linked to to the someone who came across the border illegally. >> in how about that? what would happy? -- what would happen? >> well, the likelihood is higher than it's ever been. i mean, the biden-harris policy

has been to allow these literally millions of people to come into this country illegally, millions. and hundreds of thousands that they did actually apprehend, they released them into the homeland are. does it feel like homeland security really has a grip on what's going on in this country? no. they're off doing things that have nothing to do with actually securing the how many leand -- homeland. and for them to continue to tell us that the border is secure, it really does scare me. the fbi is thousand telling us out loud what i think a lot of us have known for years. if you leave the border wide open, you are subject to who knows what. people on the terrorist watch list by record numbers are being apprehended. but what about all the others that have not been apprehended? stuart: do you feel this -- i feel a sense of anxiety. anxiety about the terror attacks inside america, anxiety that chaos is breaking out all over the place, chaos that is disturbing everyone's lives. do you feel that sense of anxiety? >> i do because not only it's

the illegal immigration, it's crime, it's the fact that people are desperate for money. but then you see this, these open protests saying, hey, let's go ahead and kill jews, we think that would be a good idea. there is a state of anxiety that i think that we haven't seen in a long, long time. and joe biden and kamala harris, there's no sense that they're on top of the game. he's going to do a bidenomics speech in minnesota at a family pardon me? does that -- farm? does that give anybody a sense of security? no. stuart: thank you, jason. we'll see you again soon. the white house confirmed that president biden will meet china's president xi jinping. when and where? lauren: on the sidelines of the apec summit in san francisco. the details have not been hammered out. ed lard lawrence -- edward lawrence tried to get answers from the press secretary. >> the president said he's looking forward to meeting, to meeting with president xi.

it's going to be a constructive meeting. the president's looking forward to it, and that -- i think that should answer your question. >> reporter: the meeting's happening? [laughter] >> yes. we've been clear. we've been clear about that. i'm just not going to get ahead of the process. lauren: biden and xi have not met face to face in a year, and the press secretary says, look, intense -- she called it competition -- requires intense diplomacy, but i would say intense tension. all the provocations in the south china ma sea. biden called xi a dictator, right? so how they talk face to face, i don't know, but apparently they will be. stuart: that rising sense of anxiety. thanks, lauren. check those markets, please. wednesday morning. a little bit of red -- red for the dow, fractional gains for the s&p and nasdaq. eddie ghabour with us this morning. eddie, if i'm not mistake mistaken, you've been pretty much out of stocks for, what, 22 months. can you tell us when you'll get

in and what would make you get back into stocks? >> stuart, you're right. we've been very defensive for 222 # months, and the bottom line -- 22 months, and the bottom line is we're probably 6 months out before increasing risk, because we think things are going to continue to get worse with. the russell 2000 is almost back to october lows. financials, some of them, are below the last october lows. the equal weight s&p is near october lows. and so one of biggest problems we have is the interest rate and bond market. look, our treasury is going to be the borrowing 8.6 billion a day for the next three months. that is absolutely reckless. and what that's going to do is put pressure on the treasury market. so i think the bond market, rates are going to go higher regardless of what the fed does because who's going to buy our debt? at under 5% when our balance sheet looks the way that it is. so investors need to be prepared

for what could potentially be down the road and play some defense because there will be some amazing opportunities on the back end of this thing, and our patience is paying off, but we're going to stay more patient because we're going to get the big payoff once the bear market's over. stuart: patience is a virtue, so i'm told, eddie. come on back soon and tell us all about it. see you later. >> absolutely. stuart: coming up, there's concern that some of the humanitarian aid requested for gaza could get into the hands of hamas. listen who tata -- to what secretary of state blinken had to say about it. roll it. >> can i promise you and this committee that there'll be 100% delivery to the designated recipients? no. there will inevitably be some spillage. we haven't seen it to date, but i think we have to anticipate that. stuart: so he's admitting that, basically, it might just happen. biden challenger dean phillips, outraged over the squad's vote against the resolution condemning hamas. he says it's appalling. the democrats are split by the

squad. missouri congressman mike -- new york congressman mike lawler reacts to that next. ♪ ♪ (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ this is spring semester at over 13,000 us school districts, which have become top targets for ransomware attacks. but there's never been a reported ransomware attack on a chromebook.

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i was on a journey for a really long time to find some relief. cosentyx works for me. cosentyx helps real people get real relief from the symptoms of psoriatic arthritis or psoriasis. serious allergic reactions, severe skin reactions that look like eczema, and an increased risk of infections, some fatal, have occurred. tell your doctor if you have an infection or symptoms, had a vaccine or plan to or if ibd symptoms develop or worsen. i move so much better because of cosentyx. ask your rheumatologist about cosentyx. stuart: some republicans are pushing back against biden's plan to send aid to gaza. they fear the assistance may end up in the hands of hamas terrorists. hillary vaughn on capitol hill. okay, what's the administration saying about these concerns? >> reporter: stuart, the administration says that hamas is not getting their hands on this aid that they've seen trickle in so far, but senate

republicans say that they've already accessed this aid and have continued to do so even in the past. so they don't want to give the president u.s. taxpayer dollars to help what they say would be helping israel's terrorist enemy. a dozen senate republicans led by senator marsha blackburn are opposing biden's request for $9 billion to the send aid to the palestinians in gaza saying hamas has already shown they can't keep their hands off of it. >> hamas is intercepting so much of the aid that is going into gaza. even last week they were stealing 24,000 the heat ors of fuel -- liters of fuel, they were stealing food. aye talked to people from all over the country. they don't want their tax dollars going into hamas. >> reporter: but white house officials dispute that saying that they have no proof so far that hamas has intercepted or stolen the aid trickling in. they are focused on urging israel to allow more aid trucks into gaza is.

hair goal, 100 a day -- their goal, 100 a day, and they're trying to convince israel to allow more than just food and water, but also fuel that they say is critical to keep the hospitals running. >> we have seen no indication that hamas has gotten their hands on any of the humanitarian assistance that that is gone in. none of it. >> can i promise you and this committee that there'll be 100% delivery to the designated recipients? no. there will inevitably be some spillage. >> reporter: so no proof but also no promise either that this aid will not end up in the hands of hamas. stuart? stuart: hillary, thank you very much, indeed. biden's challenger, democrat congressman dean phillips, says he's disappointed with the squad's response to the attack by hamas. roll that tape. >> i'm disappointed that progressives who look out for the underdog, who care about the diminished and the disenfranchised, those being persecuted, to not recognize

what just happened on october 7th in such graphic form is really disconcerting and appalling. stuart: new york republican congressman mike lawler joins us now. this is my opinion, the democrats are profoundly split by the squad. what say you? >> no question. i mean, you have members of i can't think -- of congress who have repeated vile, disgusting lies over the last few weeks accusing israel of all sorts of atrocities while failing to condemn hamas' brutal killing of babies. so democrats should be split and, frankly, every rational, reasonable member of congress should be denouncing these folks. and, frankly, as i've said previously, none of them are fit to serve. if you can't denounce hamas and stand by israel. stuart: just a couple days ago, congressman josh gottheimer, he

got into an intense and personal dispute with a member of the squad over hamas. you know, they almost came to blows. is there room in that party for hamas supporters and jewish congress people? >> i don't see how they can coexist, you know? and this is the first time we've started to see members of the democratic party forcefully speak out against the squad. but these folks are totally irrational. they're sitting here defending the terrorists who bombed, slaughtered, massacred jews, the biggest massacre of jews since the holocaust -- stuart: but, congressman, arguably, they're winning the pr battle. what they're saying is broadcast around the world and turned into propaganda against israel and against america. >> well, president bush called it out exactly right just a few weeks ago when he said, look,

everybody's with israel in the days after the attack. the moment they defend themselves, they'll turn on them. and that's exactly what's happening. and that's why i've a been so forceful in my support of israel, because we need to push back here. that's why i've introduced legislation like the anti-semitism the awareness act which would require the department of education to use the ira definition in its discrimination enforcement cases when dealing with anti-semitism on college campuses. it's why i have introduced the the act which is going to pass today on the house floor to increase sanctions on iranian petroleum. we need to stand shoulder to shoulder with israel. we cannot waver one inch. stuart: congressman, thank you very much for being on the show today. s the appreciated. come back soon. >> thank you. stuart: yes, sir. congressional records show that many house democrats have, indeed, taken donations from pacs tried to -- tied to the anti-israel squad. how many democrats took the

money? lauren: 20, taking several thousand dollars for their political campaigns. but i want to point out as you look lu through these names here, these are vulnerable democrats mostly in battleground states. so their constituents might be saying, well, you're accepting money from the pacs of our sitting congresswomen that refuse to cop dem terror attacks against -- condemn terror the attacks against israel? in alaska, mary -- won her race against sarah palin. she flipped that seat from red and blue and took $6,000 from pramila jayapal's pac. stuart: now it's time to say where's that money coming from. lauren: battleground statements. stuart: check futures again, please. the dow is now up -- we've got some green -- the dow is up 40, s&p up 11, nasdaq up almost 40 points. we'll take you to the opening bell next. ♪ i breathe in, i breathe out --

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stuart: just about three minutes to go to the opening bell. dow up 60, nasdaq up 35. mike lee with us this morning. you're sounding the alarm on chip makers like nvidia. all the chip makers. you're sounding the alarm. what's wrong with them? >> well, stuart, they say, you know, chips lead tech and tech the leads the market. and first we got kind of a dire warning from asml. the manufacturer of the assembly equipment for the chips a few weeks ago saying that they expect flat guidance next year because they've had a lot of cancellation for orders. so if the chip manufacturers aren't expanding their production lines, what does that say about demand for next year. so the last couple of days we've got amd and on semiconductor disappointing the market with their guidance for next year, and in addition to that we got a report out prosecute "wall street journal" -- from the "wall street journal" saying that invidia was going to have to cancel $5 billion due to the sanctions on china for

artificial intelligence chips. so, look, i'd say it's a broad market economic warning that's troubling. the thing with nvidia is that those chips are hard to get your hands on. so that $5 billion that was meant to go to china may end up in the hands of other corporations elsewhere in the world. that remains to be seen. the stock's down 20% from its high. i still think if you have a multiyear time horizon, you need to own asml and nvidia. things are going on right now the likes we have never seen in terms of the tech pend in a.i. stuart: okay. if the chips dictate the future of tech, what happens if apple disappoints tomorrow the afternoon? >> well, apple not only dictates the future of tech, it dictates the future of the market. it depends how much they would disappoint. the consensus estimate is for, like, a 5% drop in revenue and slight earnings growth. i would say we need to see some

pretty ugly data from apple. if that does happen with the stock being up substantially this year, close to 30%, the whole market will turn ugly because it's 70% of the -- 7-8% of the s&p 500, 11% of the nasdaq and a huge portion of the tech index. everybody owns apple either directly or indirectly based on how large it is with the indices, so we need some good numbers from apple. if we don't, look out. stuart: okay. we'll with looking out -- be looking out. what would it be, about 4:00 tomorrow afternoon, watch fox business, you get the latest on apple. usually right around four. mike lee, see you again soon. the opening bell will be ringing, they start to ring the bell in about 15 seconds, and then right as the market opens on the right-hand side of the screen, they press that button and trading begins. we've got some fox power rankings out showing trump still way out front in the race for

the presidential nomination. we've got interest rates virtually flat, and we've got the fed telling us this afternoon that probably, this is my opinion, they won't be raising rates today. here we go. we're off and running, and the dow has opened with a very modest gain. it's at 33,000. that's the level. and the most, the majority of the dow 30 are, indeed, in the green. so there's some buying this morning. the s&p 500 is also open, and it is up a flacks. a fraction. 9 points on a 4,200 index. the nasdaq is up almost one-third of 1%. that's not a bad gain. 36 points higher. the index at 12,880. big tech the, most of hem up. one loser, alphabet, it is 18 cents lower, that's it. amazon, microsoft, meta, apple all up. tesla's stock, that's been taking a beating recently. maybe musk is trying to drum up support by revealing details on the cyber truck. what's he saying? lauren: sit-down with joe rogan

for a podcast. he spoke about beast mode, you go from 0 to 60 in you should 3 -- under 3 seconds. you literally can not break the super thick glass windows. joe rogan tried to do it with an arrow, didn't work. small dent in the car, but the windows were safe. and then something called ground clearance. so somehow the cyber truck can be any -- okay, there he goes. there's joe rogan and there's the his arrow. stuart: shoot the arrow. lauren: he's going to shoot it. elon musk is saying originally we said we can produce 1.25 thousand of these in a year. the issue is there's 2 million reservations for it, so it's going to take years, but he's pinning it as being really, really cool, and guess what in the first delivery, the end of the month. stuart: he shoots, and -- lauren: he does not score. [laughter] stuart: just a little kent. that's musk creating a headline about the future, creating some

buzz, and he's moved his stock the up a little. maybe that's why tesla's up just a little bit. lauren: i think the cyber truck is the next new, shine think thing, and he's continuing to the try to get people excited about it. stuart: i think you've got it. oh, here we go again. the dating app, match group, wait a minute, i bet this has got something to do with the rising cost of dating, am i right? lauren: absolutely. dates are expensive. so is the subscription to the app. so when customers look at their paycheck and they're trying to the decide if they like someone they're going to date, maybe it's the not worth the expense of trying the find out. discretionary spending, first thing to go. if you look at match particularly, the u.s. market is half of their overall revenue, and sales are are up 10%, but that's much less than in new york where they're up 17%. also bumble, rival app, growing much faster. stuart: which is tinder?

lauren: that's swipe left and right. bumble is -- stuart: oh, hinge -- lauren: women first? okay. stuart: who knows these days. check chip maker amd. they've been on a tear this year, but they've been warning after concern of a slowdown. lauren: they are up because they have a new a.i. chip that they say they can get volume production in for this quarter. morning star says that's amazing because that could make amd the number two to nvidia. stuart: just say a.i -- lauren: but actually have a chip in production. that's what you need. stuart: that's manager different, isn't it? that's a real thing. some companies report before the bell this morning. several of them. start with cvs. lauren: yeah. they're down 5.2%. the issue is they're pivoting more to pharmacy and health care, and that's where they're doing well. but thest cost of operating this those industries are rising. so they just stuck, they didn't increases their full-year guidance, and i don't think

investors liked that. they wanted a little bit more. stuart: has this got anything to do with shrinkage? lauren: they haven't mentioned it just yet with, but volume did go up, sales did rise 6%, so i'm not sure how many people are going in and stealing things but, yes, of course, there are people doing that. stuart: kraft heinz, looks like they did okay. lauren: they increased their prices 7%. problem is, sales only rose 1%. their revenue missed expectations. nonetheless, the stock is up -- stuart: if sales go up when you raise prices, you've got pricing power. lauren: but only 1%. and how much because that pricing power lastsome? stuart: well, it didn't go down. lauren: i hear you. stuart: we can disagree -- lauren: investors might agree with you. stuart: they will. yum brands. go. lauren: cheap food, it works. sort of. they have promos at kfc,

rebooted their taco bellmen you to bring in the budget- bell menu, the stock is flat at the moment. stuart: wework. flexible work spaces. have they declared bankruptcy yet? lauren: next week. it's imminent. hay missed interest rates -- payments to bond holders, they're currently in this grace period. but do you remember when wework shares were nearly $6000 a pop? -- 600 a pop in $47 billion valuation. stuart: weren't they deflated by the pandemic lockdown? is. >> yeah. they had issues with their founder, adam newman. they have about 230 locations here, but the leases that that they're carrying are so expensive compared to the occupancy of those locations. stuart: i want to hear about estee lauder and canada agrees. >> our produce -- goose which our producers describe as luxury

items. lauren: estee lauder 's night cream, pretty expensive. they're both selling off a to the tune of 18% for estee lauder and 9% for canada goose because they cut their forecast blaming specifically china. that is a huge market. in the, canada goose said their revenue fell 11% in the past quarter. so it's not just the chinese, americans are pulling back too when it comes to the discretionary items that cost a lot of money. stuart: got it. thank you, lauren. we've been in business for six and a quarter minutes now. we're up, what, a point and a half, 33,055. very little movement for the dow. have a look at the dow winners, there are some there. boeing, microsoft, merck, visa, amgen. all on the upside. s&p 500, generac holdings, the generator people. they must have split their stock, because it used to be about $400, but they're up $10 today, that's 12%.

train technologies, first solar all on that list. nasdaq winners, when's on that one? if advanced micro devices, amd, micron, kraft, adobe, dexcom all on the list. do you remember when we were joined by an israeli activist, emily austin? watch this. >> i think israelis generally have that sense of zionism in them, but it's times like this when they're reminded why they fight for peace. if israel put their weapons down, there'd be no israel. stuart: she took a strong stance. now she needs a bodyguard. can you believe that? >> in a new fox power rankings, south carolina senator tim scott slipped from third place in august to sixth place now. how does he plan to catch up? he's going to be here, and i'll ask him. and there's this: we're going to the hear from both president biden and fed chair powell today on the economy. will they be on the same pagesome we've got a report on that next. -- page?

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stuart: all right, 12 minutes into the trading session, the dow has now turned south, down 20 points. nasdaq up 43, that would be one-third of 11%. we're goingen to the hear from both fed chair powell and president biden today. both will talk about the economy. edward laurent at the white house. are we going to the hear two different takes on the economy, edward? >> reporter: stu, it was the best of times, it was the worst of times, to the quote charles dickens. you'll likely hear president joe biden say that bidenomics is working. the president will say that the unemployment rate has been under 4% for 20 the months in a row. he will say that wages are rising. >> but i think we share the vision the build an economy from

the middle out and the bottom up instead of the top down. and i'll say it again, when that happens, the wealthy still do very, very well. very well. ask is we all do well. the economy we're building is what, is designed to make it fair for everybody. >> reporter: however, that's not the whole story. what the federal reserve chairman see ises is cpi inflation up 17.7% since the day president biden came into office, so the average paycheck, yes, went up by $230 per week, but that increased pay buys $100 heads per week according to the heritage foundation since president biden came into office and americans feel it. the fed chairman will likely say that interest rates will remain at 22-year highs to make sure inflation gets back to 2%. that means americans holding a record $1 trillion in credit card debt are paying much more on higher interest rates. >> i think the macro story is

getting a little tough orer. i think we've certainly got the widening war in the middle east, that's a concern. the particular has to pull off a goldilockses moment. ooh i'm not convinced powell can do it. he's not stupid, but he's going to the try to portray being many if charge. >> reporter: the president saying listen to my words, not what you're actually seeing at grocery store. the fed chairman saying listen to my words, rates will remain higher for longer, and sometimes the markets have been brushing that off. stu? stuart: edward, thank you very much, indeed. now, this is happening right now. vice president harris is giving a speech on art official intelligence. he's in -- she's in london. we'll monitor it and and bring you any news that comes out of it. she just started speaking. take a look at this, quote, mike johnson and dean phillips step into history. all right. gerry baker wrote that, and he's with me this morning. first of all, my interest is in what dean phillips' role is in history. >> well, we'll have to see, won't we? as i wrote in my column, if you'd asked me ten days ago,

anybody in this country, to identify mike johnson and dean phillips, they probably wouldn't have -- the. [laughter] stuart: you wouldn't know. >> maybe second tier nascar drivers, as i said, or, you know, a couple of people whose faces are sometimes seen on those posters for law firms. anyway, here they are now. they are actually thrust into this position where they have this potentially historically significant role. dean phillips is challenging joe biden for the democratic nomination. he's a congressman from minnesota. joe biden is really unpopular. that's the thing we know, or he's extremely up popular in the country. his approval ratings are incredibly low. for an incumbent president, his own party to be viewed by voters of his own party with such dismissal is unprecedented. something like 60% of democrats want somebody else to run for president. now, is dean phillips that man? i think probably not. but what we have seen historically, saw it most obviously in 1968 when eugene

mccarthy ran against linden johnson -- lyndon johnson because nobody else wanted to do so at that time. bobby kennedy didn't want another the it, george mcgovern didn't want to do it, so ewe mean? -- eugene mccarthy came close to winning, and that propelled -- could dean phillips do the same thing? i think it's possible. stuart: so that will be his role in history, sparking a serious change -- >> yeah, there is so much concern in the democratic party about joe biden, and bringing someone more plausible, a more credible candidate forward, that could be with -- what he does. stuart: the fox power rankings, trump number one, desantis and haley second and third. they are so far behind, do you think they can catch up with trump? >> not unless there's some sort of an earthquake in most of the country including -- stuart: trump's got it sewn up? >> yeah. i mean, look, of course, never say never, anything can change. we're still two months away, two and a half months away from the

first primaries. but donald trump has such an extraordinary lead. and, by the way, those polls, the fox rankings are very interesting, that recent poll we saw in iowa published this week which shows trump at about 45%, haley and desantis the tied at 16%, you ask who their second choice is, the vast majority is for donald trump. so the idea that, you know, evea strong state. he lost it in 2016. so it's not even his strongest state. he's still miles ahead he. look, again, i would never say nothing -- i would never say anything is impossible, but the idea that something could change the race right now -- stuart: his base won't leave him. >> not at all. he famously said i could shoot someone in the middle of fifth avenue, and that's the truest thing any politician's ever said. [laughter] stuart: that the's good. gerry baker, thank you very much. msnbc's joe scarborough is going after mike johnson.

what's he saying? lauren: he's saying johnson is putting jews in danger in order to protect rich tax cheats. those are his words. watch him here. >> $80 billion, mike johnson and donald trump gave america in debt! and now suddenly he won't even help jews protect themselves. it is so gross. and making it even grosser, he says this is what we're going to do. we'll protect the jews if you protect the billionaires. we want billionaire tax cheats to get away with stealing more money from the american people. stuart: oh, please. lauren: go ahead. i'll let you take this. go ahead, stuart. stuart: that is a total distortion. tax cheats, stealing -- lauren: okay. but, look, this is what house republicans are trying to do. they're trying to say we do not want any more funding for the irs, so we're going to take the past inflation reduction act, cut $14.3 billion from it to

fund israel. stuart: right. lauren: democrats are saying that is playing politics with israel. the senate won't pass it, and no matter what happens, joe biden says he's going to veto it. stuart: i'll move on before my head explodes. lauren a lauren it's fiery. we brought it to you. stuart: only on msmbc can. [laughter] there's a profound split in the democrat party. it'll be pelt in next year's -- felt in next year's election, my take, the top of next hour. sam bankman-fried's trial moves to closing arguments. he faces life in jail. we'll have a full report on that. ♪ ♪ history in the making ♪

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sharing his narrative was to build credibility with the jury. it was a hail mary, but maybe it could have worked. but that brutal cross-examination by the prosecution may not have been worth the risk. now, yesterday marked his final day on the sand. -- stand. he showed even more signs of cracking. he had a defiant tone, even argue mentive. the judge said is numerous times, quote, just answer the question, sbf began talking in circles as the prosecution tried to trap him. one particularly something moment came when the government dug into sbf's role at alameda research. when he discovered $8 million in customer funds was missing, he admitted to doing nothing. the dramatic exchange lasted several minutes where government lawyers hammered away as he tried to the evade responsibility. finally, prosecutors pressed him on whether he even asked who spent the money. he said, quote, i wasn't particularly interested in trying the dole out blame, i tried to focus on what's happened, what's the best thing

we can do going forward. remember, that contradicts a november 7th tweet where he said customer assets were fine which he deleted shortly after. while the defendant did seem to regain his memory on redirect when the defense tried another damage control, that jarring 180 is fresh in jurors' minds going into closing arguments today. both sides are going to make their final case to jurors, always a very dramatic, theatrical day in trial, and then his fate will rest with the jury. back to you. stuart: it's quite a fate too. kelly, thanks very much, indeed. on the markets, 25 the minutes' worth of business on this wednesday morning. i see some green, increasing green. dow is up 40. nasdaq up 62. still ahead, liz peek says biden's challenger, dean phillips, is sending democrats valuable advice is. presidential candidate tim scott fall thing behind in the polls. iowa, make or break for him, and he's going to be the on the show. a new shows depression and

anxiety may affect young adults twice as much as teens. theologian jonathan morris tells us why young adults are slos -- have have lost their sense of purpose. martha maccallum on the latest power rankings, trump still way out front. the 10:00 hour of varney and "varney & company" is next. ♪ so i don't take the blame. ♪ run away, but we're running in circles he can many muck run away ♪ trading at schwab is now powered by ameritrade, unlocking the power of thinkorswim, the award-winning trading platforms. .. d analysis tools, including over 400 technical studies. tailor the platforms to your unique needs with nearly endless customization. and track market trends with up-to-the-minute news and insights. trade brilliantly with schwab.

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