nick temecula at the child from italy living the american dream. >> that is what is excited about having my wine at wal-mart is is the american dream for me. i watched my father who was the taylor, neapolitan killer, and watched him achieve his dream so it is nice to do that. maria: congratulations on your wine. x o gee is the wine. juliana, thankk for joining us. stuart: thank you very much. voting has begun, liberalism, all government all the time is on trial. there is the possibility of real change here. a shift in political power if the republicans take the senate and perhaps a shift in economic policy too. by the end of the day we should know if the next two years mean more government or beliefs of private enterprise and look what we have for you today. fox news all stars, the market

as the republicans look strong and the breaking news on tumbling oil and gas prices. it is going to jam some more cash into your wallet. it is a big day. "varney and company" is aaout to begin. ♪ stuart: this is the blockbuster news of the day on the markets. it is not stocks. it is khalil and by extension gas prices. you are looking at a three year low for oil. you may ask what is going on. the saudis cut the price of oil just like that. there is a flood of cheap crude heading our way. now look at gas prices still falling at any gallon a day, regular averages $2.97, that is a four year low for gas prices.

oil dropping like this means another drug for the price of gasoline. tell me. >> absolutely. this is really exciting. the market is going nuts today. oil prices last night finally slid under 80 an overnight drop as low as 75. this opens up a new chapter of falling prices. this could offer an national average in a 2 enumclaw, perhaps even more. this is developing. we will see how low oil prices go but it is realistic. stuart: it is happening now. this coming week you will see another leg down for gas prices. i say advice to consumers don't philip your gas tank today. wheat until the weekend, might be a few, $0.10 cheaper may be. stuart: absolutely. maybe not $0.10 but certainly a few cents. more portly to motorists is the

will decline and the tip of the iceberg is prices drop more dramatically than next week or two or what it means for gas prices anothee round of big drrps. stuart: is it still the same gas station in spring, texas, phillips '66? >> yes, $2.25 this morning. stuart: they haven't come down. that is interesting. i thought they might come down a bit today but a mere $2.25. we have been trying to call them. they are all out side pumping that cheap gas, $2.25. >> i don't know why anyonn would answer your call, the most popular show on fox they should take a. stuart: by this weekend do you think there may be one station somewhere in america that charges $1.99 for regular? if you have $2.25 in texas surely somewhere has $1.99. >> not quite yet.

maybe the weekend following. stuart: gasbetty.com, we will see you again soon. check the big board..3 the market's not exactly a holding pattern, holding at 17,300. of course it is election day. the jobs report comes out friday. energy and oil, not exactly hurting the market but hurting the dollar because exxon and chevron are two dow stocks, trying to undercut our energy producers. those stocks are down. that hurts the dow. ali baba hitting a new high today, first earnings report as a publicly traded company out today, 54% jump in profits. gordon chang, skeptic on china joins us in a couple minutes. he is a believer in ali baba. now remember yahoo! still owns

16% stake in ali baba. it is a proxy for that stock hitting another record high. is that right? it was $47.07 earlier today, $6.54 on yahoo! now all. ♪ stuart: microsoft shares adding a new high. $47.50 earlier. i do alone a very small piece of microsoft hints the special effect. sorry about the introduction. look who is here. get that money off the screen.% bret baier anchors special report and will enter fox's election coverage. >> no trumpets? bernard: when you might get a heart. 7:00 tonight, 7:00 eastern you will be on the air. is that when we might get our first look at how things are 3 going? >> we start at 6:00 but the first polls close at 7:00 and we will get a feel for how the

night is going. you have new hampshire which we won't be close to a call at that point looking at that raise again. you get a sense of where republicans are in these early stages, ga. down south with david perdue and michele none, how that race looks. the interesting thing about these raises is early voting has increased dramatically in all these states and we're going to have a lot of raw vote total and exit polls to be able to look deep into making calls quicker. stuart: i think the team million early votes counted in 32 states, you will have a very strong indication how things are going when the official results start to come in. >> cowher reddick at 75% of the vote already in by the time the polls close because of the early voting, the ballot mail in. stuart: when you get the results at that time, early voting. >> all dumped right there. stuart: this morning the washington post saying there is

a 90% probability, sounds like a certainty to me that the huffington post says it is 79%, n.y. times 70%. that -- don't get that. >> it is all models based on looking at trends in all these states and how things are lining up. it is all determined by who comes out today..3 a lot of these races how one in two points and they could swing either way. the environment as we have been talking about clearly favors republicans and if they are able to take that way of we could know the ssnate tonight and not have to wait for these runoffs in louisiana and georgia. stuart: when you don't take sides. i have been saying this is a referendum on all government all the time. basically on presidenthink i framed in those terms? >> republicans trred to make it that in these races. they have run ads, tried to pin

these democrats to president -pobama because a lot of this stage, seven of the state's tonight mitt romney won by double digits in 2012 so you have a scenario that they are trying to link them to president obama. i do think the administration will have a hard time saying it wasn't a referendum if republicans get the senate especially after the resident said all his policies are on the ballot. stuart: when you really flattered me last night. i will picture on the screen. >> an impressive group. in this. i happen to be passing the green room where the team was established and they said come john in and somebody took a picture. you ran it on your face book page. >> and august grouping. bernard: when you can come on this program any day. what time you going to go to bed tonight? it will be a long evening. stuaat: you probably doubt that

you will get a term results in the senate by midnight tonight. probably not. >> probably not. alaska closes at 1:00 a.m. eastern time and that could take a long time to get those results. if they are waiting for alaska we won't know. stuart: bret baier, the star of special report and you will be a stock tonight. good to see you. much more on our election coverage on "varney and company". karl rove joins us in half an hour. i am saying flat out this is a turning point, the end navy of all government all the time, perhaps karl rove will agree with me. we will see. in the next hour llu dobbs will invade. you will watch him at 7:00 tonight on the fox business network, first results and just as important market reaction at 7:00. neil cavuto takes you through the rest of the night starting at 8:00 p.m. big day, all the big names are here, the fox business network. got to get to ali baba, the

stock of the day, record high, strong profits but we have a china skeptic with us, gordon change, why don't you think that ali baba will keep it up? >> consumption in china is stagnatinn. retail sales are not growing at a 12.0% rate beijing claims for the first nine, if you look it listed chinese consumer products companies it was down 4% 3 following declines of 6% in cute to, unilever china sales, down 20%, look at chinese retailers listed in shanghai, and walmart's? the international division said same-store sales grew every country in the world except china. stuart: put that chart on the screen again because investors don't believe it, they're skeptical of your point of view.

that chart is straight up to $1.04 sense. why don't you trust their numbers. investors to trust their numbers, why don't you? >> if you look at their retail sales number which is the proxy for consumption which investors look at that number includes not just retail sales but also includes everybody thinks government procurement and unsold inventory so what you're getting is a skewed vision of chinese consumption so you start to look at the other numbers and i don't go for all of them. stuart: this unsold inventory mean they classify that as an asset on the books or sale -- >> retail sales according to the bureau of statistics. they include government procurement in that retail sales number which really sort of skews things because government procurement really depends on other things rather than consumption. bernard: when you don't trust those numbers, you never have. >> you can see from the results

from audited financial in these companies that have reliable professional looking at their books these numbers are uniformly down especially q 3 where you see a sharp plunge in results. stuart: you are not a financial analyst. you doo't look at the stock price, i understand that but you look at china as a whole and you forecast a dramatic slowdown in china. when is it going to happen? >> the slowdown is occurring now, property sales, property values down five months in a row, you see month-on-month decline in property values in china. the economy growing at 2%, maybe 3%. that is a real problem because over the long term you cannot have vibrant consumption a new certainly can't haae a $300 ali baba stock price which some people talk about. seems to me know counterintuitive. stuart: when does the crunch happen?

when the icc had line? going to see that. when you are starting to see the symptoms that are occurring now, it has got to be months, half a year, whatever. stuart: that is dramatic stuff. you realize that. >> look at the underlying funddmentals of the economy chinese leaders can postpone the symptoms but cannot our run the real problems they are facing because they have those head winds and those will defeat them in the long term. stuart: gordon chang, thanks for being with us this election day. it is the most successful video game franchise of all time and it is calls call of duty. the new edition is out today. would you believe it will bring in $500 today. >> democracy is not what these people need or even what they

want. ended hasn't worked one time. ally bank reay s dden fees on savingsccounts? that's rit. it's just that i'm worried about you knowdden this..." okw's at?it. no hidden fees, from theank where no branches equals great ras. a dry moutcan be ale common side effect. that's why there's bione. it comes in al rin, spray or gel, so there's moisturizg reef for everyone. biotene,or people who suffer fm a y uth.

ghave a nice flig!r bag right hehere. traveling can feel lik onbig mystery.

u're never quite sure whs coming your y. but when you've got an entire company whif we can't get your onthings there too. nothing more people choose deltatha. stuart: we are down 65 points,

17300 precisely, where it is gold, down, not much. i call that dead flat. where is the yield on a ten year treasury, no reel action in treasuries, all the action is frankly in oil which you can see on the bottom left-hand side of your screen at $76 right now and michael course used to be a gangbuster stock but not today. did he quit shopping? >> right. really, i would love to spend today shopping but it is so not me. let's talk about stock. stock is down 7.7%, $7.93 a share, down 11%, on the latest quarter's they saw growth in north america, revenue growth, european revenue more than doubled, same-store sales increased 41% the it is going

forward, the holiday season is looking tougher. some of the analysts say there is a little over exposed at this point and also discounting a be another factor. everybody likes a bargain. stuart: i'll always judge this by going to an outlet mall before christmas and look at the lines. last year there was accused light outsiie the store, not much outside michael course. i thought that was a good stock market indicator. >> it is and they have taken a lot of market share but we will see how the holiday season goes. stuart: thanks very much. the company was down a a little today. now look at activevision, it is down today. had a great run up recently. call of duty, advanced warfare is out today. the most highly anticipated video game of the year.

one of hollywood's biggest stars, kevin spacey plays the lead role in the game. the entertainment franchise, quite a thing to say. and technology consultant is here. apart from kevin spacey that is a huge draw, the melting of hollywood and game. what is so good about this? bring in half a billion a day. >> people engage with the franchise itself, every year people by the installment no matter what. stuart: is that good? >> it is much better, they had a tough time. this review has been stronger. they are coming off -- destiny was released a month ago, reviews were not good. that dropped four five points in u.s. seeing it come up again. stuart: have you seen this game? >> i have played it. stuart: you would give and how

many of 10? >> oh my gosh. i would say it, 5 or 9. really enjoy it. it is quite strong. stuart: looking at the graphics it looks real to me. kevin spacey appears in the game, he is not the adding machine gun. >> he is a despotic power hungry character. stuart: he is himself. >> he is not kevin spacey but you can see this image. he looks like kevin spacey and tell instantly and his voice is there and it is remarkable. stuart: i don't know much about games. my generation doesn't do it but this is the firstttime i can remember where a big-name hollywood actor goes front and center in a video game. >> it is rare. there have been a lot of factors, and harris -- is rare to see the face actually making the appearance in the game. such a recognizable face as kevin spacey people know instantly this is a big-name actor. you have this hollywood audience and bringing in the gaming

audience that love this franchise. stuart: activevision is the leading gaming company bought a long way. >> they got competition as one of the bigger ones that activevision -- stuart: call of duty is an amazing thing to say. the biggest entertainment franchise in history. >> people forget how big video games are but they sell for $60. stuart: my generation doesn't no. stuart: my hand counts for these days, and/i coordination. >> is extremely important. stuart: wait a second. i got to show the audience a picture. the recognize this character? show the picture. do you recognize him? of course. that is ed snowden, isn't it? on the right but the guy on the left in his halloween outfit, you didn't have to do much, that is -- you are a ed snowden look-alike. >> i have been getting a 4 year

now. it takes five minutes. president obama weighs in on the war on women and it sounds like he took a shot at stay at home moms. we will play it for you in a moment..3 are sll on for tomorrow? tomorrow.

we can come back tomorrrow. and we promi tkeep it that way. x.ow tomorrow moves. and we promi tkeep what a day.. can't wait til torrow. my motheit's delicious.toffee i. so now we' turd he toffee into a buness.my goao take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom.i never rd make money doing wt i love. we created legalzoom to lp people start theirusins anlaunch theirams. go to legalzoocotoda and make yr business dream a reali. at legalzoom.com we putthe law .

stuart: big names making mooes. burger king, higher sales but they posted a loss because of the cost of the tim horton deal down 1%. another big name, big move down price line, oh oh, they made a disappointing forecast, down she goes 9%. that is $107 down. that is a drop. a campaign speech in rhode island president obama called for more taxpayer spending on preschool. the wwy he said it appears to take a jab at stay at home moms. >> sometimes someone, usually mom, leave the work place to stay home with the kids which then leaves her earning a lower wage for the rest of her life as a result. that is not julie's we want americans to make. stuart: one problem with that, with fbn and want to tip the it? they make at least?

is it wrong choice? we will ask the chicken on the right what they think, those two next hour. for where is intact for you. a small what copter you run your wrist. it flies off on your command, % snapped the picture back at you, lands on your wrist. is being billed as the ultimate selfy machine to adjust nick half-million dollar friis in intel's make it workable contest, the creator will be here next hour to tell us how it works. am very interested. i love selfys. look at the casino stocks, las vegas stands, mgm, they may big bets on china's gambling mecca known as macau, might not be paying off, the chinese government down. gambling revenue down 23% year

over year. the biggest duck line in history. more coverage later in this program. coral world is here. walking into the studio. hear that music? reminds me of another moment. he is next. ♪ [ hoof beats ]

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stuart: coming back a little. i will call this a flap back it. here it is the big news on the day. illegal. deciding to cut the price. down nearly 3%. a three or four year low for crude. oil stocks, they come down.

that accounts for much of the loss on the dow jones industrial average. the secondary storage, gas. the national average is now $2.97. these are states where the average price is under $3. where is the cheapest gas in the country? same place. we keep trying to get them on the phone. they are out there pumping that very cheap gas. look at ali baba. a jump of 54% and profit. yahoo! ownssa 60% stake in ali baba. this man here is rich edson. live in the studio in new york.

give me the lead issue. >> with talk about minimum wage, stuart. it is a non-binding road. >> to $10 an hour. stuart: all of them would raise. >> right. stuart: do you have any idea whether or not these measures will pass in those states? >> it is. stuart: i guess it is in easy pull of the lover.

>> plenty of other issues. there is gun control, there is gay marriage. when it comes to what people feel about the economy, that will decide who controls the senate, who controls govern ship. yes, there is an economic recovery. stuart: youuare in new york for election day. stick around. here is the latest washington post pool. i do not know if it is a pool or a study. 98% chance that the gop will win the senate. i say it is essentially a referendum on president obama. former deputy chief of staff, carl rove is here.

>> i am honored to be here. stuart: this election today is a referendum on all government all the time. >> democrats have desperately qualifications of the republican candidates. this is about what has been going on in washington and what has been happening in our economy. ii most instances, we will see that across the country now. you probably will not get results much before mid- night. >> well, we could. we will have a couple of inflection points. kentucky, north carolina and new

hampshire. they are keeping it real close. this will be a sign that the undecided are breaking for the republican. stuart: we get a very strong signal early in the night. >> georgia had high hopes. it looks like david perdue has pulled ahead. the question is, is he ahead? there is daylight between he and michelle. stuart: i think polls close that 7:00 o'clock. >> yes. georgia is a lot different than a lot of staaes. georgia is a state that has a little bit more dissant relationship with what happened

in early vote and what happened on election day. republicans haae a good start. there are three open democratic seats. montana, south dakota and west virggnia. they are ahead in colorado. they are ahead in iowa. they are doing well in louisiana. there will be a runoff. the republicans do have a tough race in kentucky..3 it looks like mitch mcconnell has pulled ahead. we will be hearing until tomorrow, and maybe until november 12 to hear alaska. alaska closes at 1:00 a.m.

four schools act 12 midnight. the absentee ballot can be brought in from 8% of the population. stuart: i think it is a turning point. i think it could be a turning point. let loose this machine of job creation. am i going too far? there are two issues here. one is proactive measures that will store economic growth. the degree that economic growth is more bad things happening over the next few years. you know what, his power has been reined in. >> on the people have said to me

that it is too late. it is a turning point. the answer to that is for the republicans to offer a live, positive agenda. reduce its power. reduce its spending. push those things through with the help of democrats. i think there is a limit to how much a president can veto things. could he veto things like saying we will take some of the worst them? i think it would be really difficult to do so. stuart: that would be a turning point. carl rove, i am sure you will be up all night, all day tomorrow. up next, a case of mistaken

identity and a red light camera. how it cost one florida man a whole loo of money. the judge is (vo) you are a business pro.

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we did see the transportation index hitting pressured-today due to the fact we saw oil pulling back. take a look at delta, united continental. we areeseeing some of these highs. we have also seen southwest airlines at about 90%. ups is beefing up for the holidays. earnings. a quick look at sprint, herbalife and office depot. do not forget, they had a merger recently. they are lower in a big way. ♪

just gotten rried.ve. i was right ouof school. my family's l litary you n't knowhat to expect. th suddenly u're the... in another world. you do your best. i remember the faces... how everything mtered... so much more. buddies.. my count... everything... and everyone led... back hom ♪ [ male annouer for all who'erved and all who serve, we can never thank them enough. ♪ we can never thank them enough. how couinellyfish,roin impact life expectancy in the u.s.,

realand the opti iustry in germany? we understand the connectis of a complex, glalconomy. it's just one reason over 70% of our mutu funds beat their 10-year lipper average. e price. investith confidence. request a prosctusr summary prospectus with investment stuart. you see the smile? microsoft shares hitting a new that was earlier in the day. i own some microsoft stock. here is another big name. office depot. it raised its forecast. look at that. a 16% gain for office depot. that is a rally.

a red light camera case. mistaken identity. he is mistakenly ggven a ticket for running a red light. here is the problem, he never ran the light. it still cost the guy a ton of money, a lot of time to set the record straight. >> i fully agree with you for a variety of reasons. when you have the requirement of a police officer or another independent eyewitness, you are far less likely to have a case of mistaken identity. generated entirely by the error of a computer chip inside of a

camera. stuart: did the guy, did he get his money back? >> no, he did not..3 the government is forced to compensate someone. you are looking at one of the few judges in the state of new jersey. most of the time, they will not even go there. >> the chances are slim and no. they make a ton of money out of them. >> in our home state, governor christie responding to an

overwhelming amount. he has indicated he will not support were signed in the legislation extending it. >> they are not getting rid of them. it is not that they are getting rid of them. they are getting rid of them because so many people get tickets. that is what it is. >> they are getting rid of them because it allows for no benefit for the defendant. if you go through a yellow ligh3 and by the time you get to thee3 other side of the intersection, the right is red and a copy is

there, he is not supposed to take it you. the red light camera will ticket you. stuart: except when the camera makes the decision. >> what kind of society is this? stuart: and unconstitutional society just like the pond over there. i have never pretended that the british have a constitution. >> it is not a constitution. stuart: would you seriously argue that? >> vastly. stuart: why don't you put on that fake reddish accent when

you say that. you will be delighted to hear you are staying over. preaching politics. a big no, do not do it from the irs. the judge on that one next. ♪

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i have a lifetime of experience. so i know how important that is. stuart: the irs says no politics in the pope. , thank you very much. that is not stopping some rogue christian passees. >> i am sorry to tell you i think the pastors will loose. it has been upheld. the theory of the statute is, in return for your tax-exempt status, meaning you do not pay taxes on the real estate, people can conduct back from their taxes. you can advocate for candidates.

you can advocate for causes and ideas. when john cardinal 'connor was the archbishop of new york in 1984 and ronald reagan was running for reelection, john cardinal did not say vote for ronald reagan's. he did ssy, no catholic can be pro- abortion and still be catholic. that sent his message out. he was advocating for ideas rather than a candidate. and so when so vote for suzy so-and-so. i do not support the statute, but the statute is clear.

>> hey would have to my mature the pulpit. >> that is the problem. that kind of monitoring. it would be profound. what we would call entanglement between church and state. i can understand that you lose your tax status the moment you advocate for a candidate. >> why should that be so? >> sometimes, the mission of a religious entity is to put people with a similar virality into the government. should you have to use code words?

no catholic should be pro- running for office. if she is the irs will not enforce the statutes. why are we talking about this? >> the reason they pullback is this kind of entitlement would cause a revolution in the ssreets. writing down everything it says. stuart: taking a jab at stay-at-home moms instead. chicks on the right, they will be here to respond to that. a drone flies off of your wrist.

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stuart: who is exactly waging a war on women? remember debbie schultz accusing a governor of given within the back of a hand as a slap in the face. president obama talking about women who stay at home with the children. it is not a choice we want americans to make. moms at home with the kids have made the wrong choice. really, mr. president? she is very attractive, he said. what is exactly waging a war on

women? enough with the knee-jerk era. go to love it. the second hour of varney andd3 company is about to begin. ♪ >> sometimes someone, usually mom, leaves the workplace to stay at home with the kids. >> that is not a choice that we want americans to make. >> president obama asking for more taxpayer money. let's get right at it. they are the chicks on the right. i thought that that was condescending.

they made a bad choice. >> we read this on our side a couple days ago. it is funny that feminism is supposed to give us more choices and if you stay at home tt be with your children, that is apparently a bad choice now? stuart: i am surprised that the president said it like that. that is the context in which he said it. >> going back to ann romney for never holding a job a day in her life. the left is always quick to criticize.

stuart: instead of women being on the column in the left voting democrat innmarch numbers, what chance of a realignment? do we have that pivotal moment? >> i hope so. hopefully women in particular are starting to realize. i think more and more women are for instance, democrats use. cosmopolitan magazine to get young college girls on buses full of shirtless males to go to the polls for the midterms. republicans and conservative people, in general, see that.

how is that empowering? why would i want to vote that way? stuart: is there something wrong with that? a man may not describe the looks and public. >> i agree with you. sometimes there is oversensitivity to that. it always seems to go back to the woman's appearance. there is always a comment about that. there does seem to be some overreaction and hypersensitivity. stuart: okay. three women. they could make, i will say political history tonight.

we have maybe the youngest woman in congress. then we have the first black female republican in congress possibly. joni ernst could be the one that makes the senate a republican majority. we just completely fell in love with her and held her up as a shining example. stuart: how conservative is joni ernst? is she a moderate or is she out there with the tea party? >> i think that she embodies everybody. i think that she is the ideal. i want a conservative representing me. what i want is a tax cut.

i want some bigger and light in it. excited about. some things we can get write about. stuart: life and liberty -- no, i am not going to say it. [laughter] >> we want to hear you say it. >> life, liberty and a crap load. stuart: varney and company. >> you brought the authors. they seem like lovely people to leave.

>> we would say the same. conservatives start being the oath in this class now. then, the conservatives are entering and becoming every bit as relevant as the left. stuart: my show. the time is up. [laughter] >> thank you so much. stuart: i have rickk news from nf adrian peterson will plead no contest to child abuse charges in texas. a $2000 fine. no word on whether this means he

can play against this season. check the big board. where are we? it is election day. the price of gas is way down. to dow stocks are pulling the average down. we have been in positive territory before. we are cutting prices to u.s. customers. on accompanying our energy sec there. that is a three year low. the price of gas will keep on falling. dropping about a penny a gallon a day. $2.97. do we go even lower from here? >> yes, we will.

he calls this very exciting. it is called instant stimulus. the aforementioned lou dobbs is here. stuart: the price of oil is $76 a barrel. >> i don't like people using the expression. i truly believe this is having an impact. a significant impact. it makes a huge difference in the economy. they wann a $10 oil.

>> that is the reason why they are not only driving prices lower, but the united states working very hard to keep our production of. stuart: we have a lot offoil on federal land. >> just the executive mandate against growing offshore. stuart: it was symbolic. the power of what you are saying is empirical.

stuart: we are watching you at 7:00 o'clock tonight. >> that is a wonderful thing to do. at 7:00 o'clock, you will get the first word. you will have market reaction. >> we will have indications. i think it is going to be a very exciting even name. stuart: equally. >> all that more excited because you will be watching the broadcast on fox business. stuart: you went to harvard. >> yes, i did. luke kicks off our coverage tonight at 7:00 o'clock eastern. more election coverage on varney and company. we will pose the same question.

all right. nicole: ali baba and yahoo!. they are each hitting new highs. 104.8 team. this e-commerce company hits a record. we did see revenue jump in with revenue rising profits jump 54%. hitting a high of 47.07. stuart: thank you very much, nicole. we were trying to get lou dobbs off the set, but he just won't go. he loves varney nd company. the fox business network tonight

at 7:00 o'clock. check his one out. it is a drone. you press a button. it flies around you and takes a selfie of view. look at that. they are astonished. stick around. you will probably see it on this program. after this. ♪ cayou start morrow?

yes sir. alrit. let's she the news tomorrow today we flrly busy. tomorrowe're bookesolid. we close on the house tomorrow. i nt one of the opened up. because morow we. tomorrgo live...kesolid. it's a day fl of prose. and often, tt day arrives by train. it's abig day todarose. even bigger one morrow. when csx trains move forward, so ds the rest of the economy. cs howomorrow moves. you can't eaththugh your noe you t sick, suen, you're a mouth eather. a uth breather! well, puon a bathe right strip and shut your mouth. cold medicines open yourose over time, but add a breat eather. a uth breather! rit strip and w, it opens your nose up to 38% more. you canreat and do the e thing you want to do, sleep. add breathe righto your cold dicine shut yand ok for the calmingw sleep right. bathe right breathe right lavend, in the sleep aisle.

stuart: we were going to start with michael kors. the dow looks like it might be going positive any minute now. only down about nine points. we have the price of oil way down. gas way down. some positives. michael kors. look at that. disappointing forecast. that said those down 8%. priceline.g name.

when you do that, the stock goes down. it is $111 right now. activision out today. the most successful entertainment product of all times. prod in a half a billion dollars in 24 hours. this one could be bigger. a computer animated version of house of cards * kevin spacey. activision stock, where is it on a day like this? of course it is up. let's get to the technology story of the day. you will watch it in a second. you wear this thing on your

wrist. it flies up takes a picture of you and it does what intel make it wearable contest. here for more on this is yelena. >> thank you. stuart: you can have this thing on your wrist. on your command, it flies up and takes a selfie. >> exactly. it is like a bracelet or a watch. stuart: if i am at a beautiful

national park -- we are seeing something similar right now. >> there are a lots of opportunities. we really see a lot of opportunity. everyday adventures and everyday people. it is actually a boomerang mode. it takes a picture of you and comes right back where it started. you go a along and as you are moving it, it comes aaong with you. panorama mode gives you that 360

view. >> honestly, that is a terrific idea. i want one of these. i cannot buy it yet. >> no, you can't. we have been working on it for four months now. there is a lot of work to do still. >> give me a rough idea of how long it will take. >> i wish i knew how long it would take. we have really high bars of making it amazing. as it takes off, we think we can get it down to the price of a point and shoot camera.

stuart: bring it in here. congratulations. you want a half a million dollar prize. >> we are really grateful to intel for their support. stuart: i have a new study and it ranks norway as the most prosperous country in the world. we will tell you where we rank after the break. , local breating deepl]] [ inhaledeeply ] [ sighs ] [ inles ] [ ma announc ] at cvs health, we a deep breat.. inhales, eales ] [ ma announce] and ma the decision to quit llincigarettes in our cvs pharmacies. ow we invi smokers quit, too with oucomprehense program. we just want to help everyo, everywhere, breathe a little easier. intcing cvs health.

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noon earlier today microsoft a new high, $47.50, they are part bring up with a drop box. investors like that. online file sharing, $47.50. i alone some of that stock. burger king, high year's sales but the posted a loss because of all the money they spend in the tim horton deal. the stock is down $0.30. check the airline stocks. delta united southwest, jetblue. thanks to those hidden fees, a new study, airlines take in

$50 billion worldwide. that is just in fees. extra bags, what they used to give you for free, they charge for nearly $50 billion worth. that is up 17% this year. the average traveler paid $15 in fees. if you are traveling, stop by norway. just wrapped up a world's most prosperous country, not it is said gaming institute the switzerland number tto. denmark, number four. the united states is number 10. lava flows from the killer volcano. president obama declares it a major disaster. coming up after the break, midterm elections.

why would a republican victory mean the next two years and what first lady michele obama thinks about black voters? herman cain is next, the dow is almost going positive. ♪

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informion, risks, fees and expenses to ad and conder carefully beforenvesting. stuart: i was hoping to check the big board, it went that 0.1 of the point. this is it, here we go and we are back down 3.5 points. here's the real story on the market, the price of oil, $76 a barrel, that is the 3-year low. oil down, airline stooks of because jet fuel is getting a lot cheaper. $49 billion worldwide in extra fees, that doesn't hurt the stock price, does it? let's get to oil and gas, $2.97, that is the number to conjure with, national average for regular, still falling at a penny a gallon a day, this is real economic stimulus because it puts cash right in your wallet. let's get to ali baba.

that is the stock of the day hitting new highs, 104 at this moment. jo lin kent is here. the big number, the big good number ali baba came out with. >> there are two numbers you have to look at. revenue beat expectations, $3.7 billion, it is up 54%. that is huge. the big number you should know about is all about global. for 35.8% of all global business they're doing online is on a smart phone in china. that means there's a huge run away for growth and ali baba will do very well. stuart: revenue was $2 billion. >> $2.74 billion in the quarter. stuart: $2 billion and a quarter. >> it be the expectations. stuart: i don't care about expectations. >> ii you look at the revenue,

and 90 days in ali baba and aaazon in 20 years. the volume is extremely high and revenue is growing very quickly. i am not defending earnings reports. stuart: i you in favor of this company? >> i am not in fear of any company. we are looking at cold hard numbers and telling you -- stuart: you are saying we are taking off over here. >> ali baba refuses to provide any guidance. we analyzed there have 1 and earnings report and try to figure out where they are headed. here is the most astounding thing, you will love this. only 9% of rural chinese people use ecommerce right now all. imagine cutting into that how much money they will make. there is potentiaa. i am not wrong -- lead, came up with the best

number last, should be right up front. >> i wasn't sure about china. stuart: i am now. >> a huge amount of money. a lot of day care. stuart: rich edson, here is another issue on the ballot in a couple states. the legalization for recreational use of marijuana. which states -- is it for legalization? >> legalization in alaska and oregon, tax and regulate, in washington d.c. two announces, you can pose as two oz. the problem with washington d.c. if you are strolling in the national mall, the city may go ahead and save this is what we're doing with marijuana but if you have two ounces on the national mall u.s. park police will take issue because york federal property.

stuart: the fed say no % marijuana. the city can say what it likes. what are the odds of that passing? two losses legal for recreational use, washington d.c.? >> d.c. has decriminalize marijuana so it appears it is going to go in that direction. stuart: very important votes because after what happened in colorado the tax money is flowing in. i would imagine these initiatives will probably pass in the stage where they are up for a vote today. >> you are creating a hot market in these two states, not so much in d.c. but in those two states. stuart: i will be watching that and we would get the results fairly early. >> alaska we have six months or so. stuart: thank you. after the midterms, with a democrat in the white house and gop control of the house and senate the market will go up. in fact history has shown in the first six months after the miiterm the broader markets go

up an average of 16%. herman cain is with us. you are not a financial guy. you are a stock-market analyst. i will ask you to do that. what do we get if the gop wins control of the senate? what do we get? >> you got to get an actual federal budget. the democrats haven't passed when in six years. that provides a certain amount investors and business people effectively you won't have a pushover senate if president obama gets the opportunity to judges.e new supreme court it is important you have republican control. all these cover-ups, republican controlled senate republican controlled house, they would make sure you continue to get to the bottom of the irs scandal, benghazi, fast and furious, that is one of the biggest things that republicans are going to

focus on. stuart: what i want more than anything else is a turning point. i want to show the electorate now favors private enterprise and not aal government all time which you hhve for five years. they see it turning point? 8 of it? something different in the future? >> that turning point will be if these republicans get control of the senate to maintain and get a bigger majority in the house, and the turning point is what you are able to do relative to obamacare, the two biggest things that are causing businesses to be tentative, number one, the mandate. republican the going to try to rollback the employer mandate and number 2, they will try to read the fine a work week back to 40 hours a week because the unintended consequence of obamacare is it created a group called 29 years, people having

to work two part-time jobs in order to be able to make ends meet. that i believe would be a turning point but it is going to take some democrat with the republicans to make that happen. stuart: michele obama has told >> that is my message to voters. this isn't about iraq or the person on the ballot. it is about you and for most of the people we are talking to, a democratic ticket is the clear ticket that we shoold be voting on regardless of who said what or did this. stuart: that seem to me racial appeal. i am wondering if that works any longer. are black folks in lockstep, absolutely in lockstep with the left? >> absolutely not. here is why i know this. i have often said the statement

popularized by jack kemp, a rising tide lifts all boats, a sinking tied hurts the boats on the bottom of the most. many black eople are waking up, waking up to the fact that as my friend from louisiana said, democrats have abused black people for too long end if you look at the actual facts, as they will see it.% i had three callers to my show today who were self identified blacks who voted democrat in the past and said they are now going to vote republican because they looked at what has happened over the last six years, black people are worse off, the whole country is worse off and some peeple aae paying attention to the facts so i don't believe this appeal on the part of michele obama is going to cause a lot of people to vote democrat ust because they are black. stuart: you deliver clarity, we

know exactly -- >> i was listening. -pthank you, i always enjoy bei with you. stuart: a big day, glad you are with us. mack how gambling revenue falling off a cliff. can you imagine? worst drop in history. why is that? we will figure it out next.

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nicole: nicole petallides with your fox business brief, socks off of the lows of the day, the dow was up 9.5% sitting at 17,356. the s&p 500 in 2008, the nasdaq ddwn 27, the worst of the bunch down 1%. we are watching oil closely at $76.73 a barrel and the energy shares, eeergy related shares, exxon, chevron halliburton and down almost 7%. trans ocean down 4%. gasoline prices down $3. restaurant earnings looking at gourmet up 11.5% after its numbers are up 10%. and keep an eye on these, and

activevision.

stuart: news is being made on the market's not buy stocks but by oil and gas. we are looking at a three year low for the price of oil, $76 a barrel, the saudis just decided overnight, cut the price to foreign buyers in america. down she goes and gas falling to 297 on average and will fall

some more from here. tom as a joining us from florida. the sharp decline in the price of oil is flat out a good thing. and texas or north dakota? >> absolutely right. it is going to get a lot worse if things continue but to decline at this point we have to look at the greater good here. the american consumer is getting a break from overall prices and lower gas prices and that is going to hold the u.s.. keep in mind 65% of the economy is consumer driven. one sector is getting hurt and the greater good, this is a positive for the u.s. economy as long as it oesn't continue to plunge at this case. stuart: what is the problem? gas keeps going down and down i don't see the problem for consumers. >> of course not. that is going to breed some life back into the u.s. consumer.

remember the consumer through this recovery we have seen over the last several years has been missing. if you get the consumer getting some confidence, disposable income, that would be an economic boost people are not counting on. the oil and gas industry has grown a lot and is contributing a lot to cap-ex but not as big as the u.s. consumer. if the consumer spending again they're good day that for us. stuart: what is this about norway, the most prosperous country in the world? america is number 10. norway is an oil driller. that is what that is about, isn't it? >> exactly. people like to bring these things to get results. america is a prosperous country. if we can get the consumer moving again we will become more prosperous. norway is doing well but they need tte price of breakfast to stay up. i would be nervous frankly. ptuart: on average after a midterm elections market goes up 16% in the six months following

the midterm election. let's suppose we get the republicans winning the senate, control of the senate. are we in for a really strong november, december nd early part of next year? >> unfortunately i don't. i would like to see it but i don't because i don't see how the republicans taking congress will provide that positive spark to get the economy to go from third year to 50 year. yes, it would help, yes we will see incremental improvements, keystone pipeline gets approved, probably some scale back of obamacare but at the end of the day the president leads the country. we have to give the president to start really leading. if we get some confidence from there and they start working together may be that is the catalyst but recent history would imply that ii not likely. stuart: thank you very much. before we leave let's have a quick look at the big board because we have turned positive. the dow industrials are up 11 points. that is not a big gain but it is

turning positive on this election day. the chinese government, it is true they are cracking down on corruption. that is scaring some gamblers away from the tables, they just had a huge drop in gaming revenue. gordon chang is back with us. conventional wisdom has it when the chinese government in beijing crackdown on corruption there is less money for corrupt officials to spend at the tabbe. is that the whole explanation? >> certainly not. the anti-corruption campaign has been going on more than a year so it doesn't explain last five months and doesn't explain october. what you are seeing are real problems in the chinese economy. a lot of these gamblers use property in shining to collateralize their redeeming deaths. property values, of five months through september, and the only other thing is you starting to see real pessimism in china,

barkley survey which was released in the middle of september, a stunning 47%. those will not be gaming in macau. stuart: you keep saaing it is nowhere near as good as they say. >> absolutely. and electricity production. for the first 29 months. it was up 3.9%. electricity growth normally outpaces, and employment creation, it is up 6%. stuart: if i walk out to the streets of manhattan right now all, and as callous china doing,

that is going gangbusters and they will be better than us, bigger economy than as, you are saying that ii not true. >> that is not true because what we see from objective indicators, not the things the naaional bureau of statistics as when it produces headline gdp numbers but when you look at the underlying indicated you can't get anywhere close to 7.4. bernard: what if the heart of the problem is controlled the country by chinese communist party? >> ultimately that is the fundamental problem. what they have been able to do because of that is have more state enterprises become bigger parts of the economy, aaretreat of the private sector, redirection of credit away from a entrepreneurs, that is not good in the long term. stuart: fascinating. a totally different picture talking to you. thanks very much for being here. apple has $160 billion in cash on hand. why would apple be borrowing money. we have the reasoning next.

stuart: we were suggesting ali baba is the stock of the day, might be priced line. the huge drop down $112. we are told william shatner who endorses price line is a big shareholder. we ask if anyone has heard from him.

got an answer. look at this. more and mildly concerned, hopefully he will come out of this tokyo. i am told those creatures are called tribbles. the stock has $160 billion in ccsh, still borrowing money. liz macdonald. you have $160 billion in cash. why do you go out and borrow money? >> apple is being as innovative with its devices as it is with its move here. majority of its cash is overseas, 90% of that have to the u.s. corporate income taxes. parking over there but borrowing overseas in the euro zone. it can borrow in terms of the bonds it can sell in terms of borrowing in the euro zone as to the 1.1% in issuing bond collapse in europe, it would be

turneding around the u.s. treasury, 2.4%. not only that but this will give senator carl levin who takes tax moves and things like this will probably give the transient -- will be a talking about here is apple can also deduct the interest costs. that is another move it can make. stuart: the as this crash but if they bring it back here it is a huge tax break. you say borrow it oversees the and 1% interest and that interest is tax-deductible. liz: they are paying apple to hold onto their money. after inflatioo and carley shimkus the tax deduction is a brilliant move. stuart: apple is very very smart. american tax rules. stuart: it should make carl icahn happy, senator carl levin upset. stuart: more varney in just a mooent. hi, are we stin for tomorrow?

tomoow. quiclook at the weather. nice day, beautiful tomorrow. tomorrow ifull of promise. we can come back tomorrrow. and we pmiseo keep that way. iven to prer the we can cenronment, morrrow. csx moves a toof fight nearly 450 miles on one gallon ue what a day n'it til tomorrow. over 12,000 financial viso. what a day , how are things? go, good. let me jt put this awas in assets under care. w did ward jes get so big?

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>> the market is going nuts. oil prices last night finally slid, they dropped as low as 75. this opens up whole new chapter of fallinn prices. this could usher in national average the drops into the 280s perhaps even more. stuart: that was the decline of oil prices the last couple days. we havv been asking you to send in your pictures and prices of what you are paying at the pump. don is the $2.59 in north carolina, craig says he is the $2.80 in independence, missouri and look at mike in hilo, hawaii. $3.95. always very expensive out there. keep those price pictures coming and even more of your photos, we want to see what you are paying, we won the visual, wanted urgently. i would love to see $1.99.

here is adam shapiro. adam: welcome to risk and reward. i am adam shapiro. you know the election headline about control of the senate bill would about abortion, immigration and health care? those issues are hot topics on facebook's news feeds and you see with the headline are driving election results. profit is down ask ali baba and investors see gold by onetime charge, made out booze that chinese ecommerce giant's stock to an all-time high. controversy regarding sexual harassment and 27-year-old will have to hook up somewhere else. -pa day of political destiny fo republicans, fox business correspondent rich edson is part of the fox team following the election and joins us with the latest. when will the results board in? >> we will get results at 7:00 kentucky and georgia and if you want to see where this evening is goi