maria: amazing panel. thank you. have a great day, everybody, seize the day. "varney and company" begins now. stuart: i will seize it and it will be a big one. good morning, everyone. the president got the fbi report last night. at 2:00 this morning the white house said there is no corroboration of the charges against brett cavanagh. senators are reading the report. mitch mcconnell is moving towards debate tomorrow and a final vote saturday morning. the left is enraged. nancy pelosi is comparing brett kavanaugh to vladimir putin and kim jung un. are washington producers report roving groups of leftists inside the capital building are harassing republican senators. however, new polls show

republicans leading democrat incumbents in some key senate races. the new fox poll shows a surge in interest in voting by republicans. brett kavanaugh's treatment has produced a surge in republican voter support. catch your breath and look at this. surge in interest rates. anyone who wants a loan would be paying more for it. you are about to look at the rate of a 10 year treasury, that is the base for a lot of mortgages. i thought it would be getting up there. look at that, 3.19%. stocks are headed lower at "the opening bell". that are closed 26,828, no clue how we closed today. a lot will depend on progress reports next week. it is thursday, october 4th. "varney and company" is about to begin.

a new presidential tweet in the last hour, the harsh and unfair treatment of judge brett kavanaugh is having an incredible upward impact on voters, the people get it far better than the politicians. most importantly this great life cannot be ruined by mean and despicable democrats and totally uncorroborated allegations. here are poll numbers to back that up. voter interest in these 5 states is up since last month. arizona, indiana, missouri plus 8, north dakota plus 8, tennessee plus 11. north dakota specifically, senator heidi heitkamp is one of the most vulnerable incumbent democrats.

he was up by 4 points and last month. stocks will open lower as interest rates continue to rise. we are looking at a loss of 90 points on dell industrials and 319 is the yield on the treasury. wait a second. i can take this two ways. a surge in interest rates, i could take it to mean what a great economy or a surge in interest rates, the. the economy. >> this is great news because we have been talking how the growth is going to run out, we see a recession 2019-2020. with rates going up, the growth had legs. we will see more growth, great

news after eight years. and seeing it move up. it means people getting jobs, wages going up, very excited about this. stuart: we are all going to be paying more when one of us borrows money. >> we are talking 3.19%, nothing. stuart: that will mean 5% mortgages. >> back to almost a normal world after years of record low rates. we don't want to live in that world. we went growth and opportunity even if it means 5%. stuart: you are looking on the bright side. >> the future looks good, not there is no future. that is important. stuart: good energy first thing in the morning. strong words from the fed chair jerome powell on the economy.

there is really no reason to think that this cycle can continue for quite some time, effectively indefinitely. market watcher is with us now. if we keep raising rates and this expansion keeps going, what impact on the markets? >> they would continue to raise interest rates and interest rates are cumulative. the impact of rising rates are cumulative, capital goes up and that does tend to slow economic growth. no question we are in the late cycle. the tax cuts, stimulus, fiscal lack of regulation or lower regulation, we haven't seen the full effect of that coming into the economy yet and so far all the evidence is good. stuart: what about the market? this rate rise, that was a dramatic increase on the 10 year treasury. will that put a cap on the stock market rally?

>> it does in the sense the competition for stocks and bonds and capital gets more interesting because yields, risk-free yields on bonds go up versus the more risk in equity so the yield differential beacons to shrink. that does impact the market and cost of capital goes up. in syria the economy slows down, profit margins go down, companies don't make as much money, multiples don't expand and equities cool. i'm not saying that happens tomorrow but it is a little dangerous when you say whatever environment you are in in the moment can go on indefinitely. that makes me nervous as a skeptic. >> thanks for joining us. let's get the big political story of the day, very clearly the brett kavanaugh nomination fight. how do the markets react if and when he gets confirmed?

let's take it one way or another. suppose the vote is saturday and he is confirmed, what is the market? >> markets have been expecting that. you have not seen much. they have been baking this in which is why you have not seen reaction throughout the process. stuart: what if he is not confirmed? >> markets get nervous. political intimidation is winning the day. rule of law is out the window. guess what markets depend on? rule of law. i think they get nervous about that because that felt consequences not just for supreme court but any other policy the left doesn't like. that will give markets something to think about. stuart: what about the job market? obviously it is a very tight labor market. yesterday we had news of 230,000 new jobs in the private sector. this morning we got news of an almost record low in the layoff rate. tomorrow the big job number. will be a blowout?

>> the hurricane issue going on that messes with things, it will be between 175-200. that is a strong number, the market reacts well to that. it pulled back because it doesn't know what to do with this higher interest rate environment, it will figure that out quickly because the growth prospects, profit prospects, you will see it move forward again. stuart: you saw this report in the journal that the average cost of employer-provided healthcare for a family of four is nearly $20,000. that is a shocking number. who would employ an extra person if you have to pay 20 grand for insurance? >> obamacare has done nothing to bring down the cost of healthcare. republicans haven't done much either. this is what happens when government gets more involved in healthcare. you see mergers in the hospital sector and healthcare providers giving pricing power. and so you get government out you will see this trend continue and it is terrible for

the average family. who can afford this? stuart: $20,000 is an extra ordinary amount of money. you know the story. once the government gives something the government -- >> never leave. everyone staked their life around this thing. you need a crowbar to get it out. if you don't, that 20,000 figure is just the beginning. stuart: the cost of healthcare never goes down. it was supposed to under obamacare. never goes down. >> affordable affordable affordable. stuart: you are cool. you are all right. check the market. how are we going to open? it will be down, a great week thus far, down 80, 90 points, down 40 on the nasdaq composite. back to the fox poll showing republicans making gains in key senate races.

republican challenger kevin kramer up by double digits in north dakota. he joins us in our next hour. i will ask him are voters rallying around brett kavanaugh? it sure looks like it. capitol hill police arrest a former democrat intern for posting private information about gop senators online. i call that dangerous stuff. senator bill cassidy harassed by a protester on capitol hill. wait until you hear what he said when the protester challenged him on brett kavanaugh. this place isn't for me. that last place was pretty nice. i don't like this whole thing. i think we can do better. change is hard. try to keep an open mind. come on, dad. this is for me, son? principal. we can help you plan for that.

stuart: big-name, barnes & noble putting itself up for sale. investors like that, up 22% reaching $6.77 a share. sears is going to close 11 stores and close the first of them two days before christmas. much more on that, stock down to $.76. capitol hill police arrested after posting private information about us senators online.

it is illegal. >> 27-year-old jackson costco most recently worked in the office of representative sheila jackson lee of texas. he is accused of putting basically the personal information of at least one senator on the wikipedia page, home addresses, personal information, very dangerous. the senators targeted lindsey graham, mike lee, orrin hatch, the people vocally backing brett kavanaugh. jackson lee's office, we call this unfortunate and let this individual go but now they are investigating two other cases including one that may have involved senator rand paul, his information being put online. stuart: telling protesters where to go to get them. that is outrageous, very dangerous.

you got to see this. senator bill cassidy, latest republican monica to be harassed, a protester who opposed brett kavanaugh. >> our uk as a person accepting a non-corroborated charge? if this destroyed your life. >> the supreme court -- >> who is your husband or son or father? would you like that? >> i would like a full fbi investigation. >> would you like him and corroborated charge -- >> i wouldn't marry somebody who was a drunk. >> i don't think you are able. stuart: go right back at them. our next guests have any spirits with protesters, tweeted about it. after meeting with donald trump today in philly iran into protesters on the street. the only thing they ever change is the traffic, it was 3:00 pm

tuesday afternoon, get a job. who did they harass? this man is rob oh neil, the man who shot usama bin laden. >> that happens, right place, right time, great team, it is on my resume. stuart: no matter what i think of you i will not be harassing you and that is the fact. >> kind of a big crowd and we are leaving the convention center in philadelphia and i met with donald trump, the national electrical contractor, and interesting place, these are contractors and union people, don't know how many thousands of people talking jobs and new trade agreement and how it will affect everybody and everyone was on a great mood. what i left his people outside protesting, i was asking some of them, what do you not like about the dow hitting an all-time high?

what do you not like about african-american unemployment being the lowest it has been in recorded history, the new trade agreement, what is wrong with potential ending the war in korea and to ask, these protesters couldn't find canada. and i did go to college and appreciate going to a room and learning something but i have always been around the world a few times. like the protests on capitol hill, they are not interested in a dialogue, they want to shout you down. stuart: it is dangerous. they didn't know who you are. >> there was a lot of philadelphia's finest around. stuart: it is dangerous. >> it can be dangerous. we one dangerous to democracy, dangerous in a physical personal sense. you come at somebody like you were example.

a protester comes that you and if you are get away from me, you push them, that is an assault. >> notice a lot of their tactics, they get in their face, put their fingers in your face which is assault. if someone responds even on their side you see people hit someone in the back of the head they can get violent quickly, they can knock you out and then you're in mob mentality. stuart: my point is it should not come to this, paid by george soros, ambushing people in the halls. >> they should not. this is well orchestrated funded through soros. even with doctor ford, a lot of weird coincidences, who knows who is doing what. they get the addresses leaked, people sitting in bars waiting for ted cruz to come in in dc, this isn't by accident. it is orchestrated. it is far left party politics

working together, the democrats have always been good at being politicians. republicans seem to want to be liked by democrats, democrats, it is resist resist, impeach impeach. even with the impeach thing, fine, for what? stuart: it is a good job you know how to keep your cool. >> i have seen worse. stuart: rob oh neil, appreciate it. look at futures please, not too bad, we are down 70 points, 80 points on "the opening bell". a big story, china reportedly hacked, dozens of us companies including amazon and apple. this comes the same day vice president mike pence give a major policy address on china and it will include meddling in our elections. we have got it all for you.

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stuart: stock down, interest rates up, gold still meandering around $1200 an ounce. we do have a blockbuster story about chinese spies hacking 30 american companies including apple and amazon. ashley: apple and amazon, the web services, basically a data

center service put together by supermicro, the chinese company that made it. bloomberg is asserting all this, apple and amazon are fighting back saying this isn't true. the claim is there was a spy chip put in when it was made so anyone using apple and amazon's web services would be exposed, have their trade secrets, intellect will probably exposed to chinese hackers. full and amazon, apple says this is very disappointing, we discover the affected driver in 2016, we said our ties with the chinese data company and this is false reporting. amazon denies any evidence of this. bloomberg sticks by it and says this supercomputer data center was infected by the chinese spies. stuart: very interesting. mike pence has a big speech and he is going to say china is meddling in our democracy. we will take a little of it in

the 11:00 hour. do you know what he is going to say? ashley: he is going to go after china saying their military aggression is clear for anyone to see, they promised in 2015 they had no intention of militarizing, anything but has happened since. he talks about what jack keane told us about debt diplomacy, china goes around the world handing out loans to struggling countries, sri lanka, some in africa, venezuela and some extremely high interest rates gives them influence over the country but he talks in his speech, talk about chinese influence, china targeting us state and local governments to exploit any difference between federal and state levels on policy. stuart: taking a hard strong line could affect the market.

so far we are looking at a loss of 80 points with the dow industrials when we kick off trading this thursday morning at 9:30. we are 5 minutes away and take you to wall street after this.

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stuart: here is a number for you.

yesterday's close on the down the 26,828, that is the new hire, whether it is the 102nd, 103rd, 104th, i don't know but it was a high yesterday, 26828. and three seconds we will find out how much of a pullback we have this thursday morning. we are off and running and down 34, 34, down 42, very modest loss, 26780 at the moment, down 42, down 50, down 52, let's call it quits at that. we are down 0.02%, down a fraction. show me the s&p, it is down a 12:45%, bigger decline there. as to the nasdaq composite, that thing is down, over a third of 1%. looks to me like tech stocks are taking it on the chin. here is another key number,

3.19%, that is the yield on the 10 year treasury, a benchmark interest rate for mortgages, very important. a spike in the past couple days. who was with me today? scott martin, john way to the field, susan lee and ashley webster. is this good news for the economy that rates are rising because the economy is strong or is it bad news for the market because rates are rising? which is it? >> that is a tough question. that is why you are so good. i think this will be a worse answer, it is good and bad. it is good because we need to get back towards a normal rate environment which is 4% on the 10 year treasury, given gdp is around 4%. it is bad news if this is a market but i believe was rallying at the beginning of the year on a lot of liquidity and that liquidity is ready to dry up and get more expensive to create capital, to borrow, things companies have been doing all these years with

rates so low. it is good that rates are going up but they can't go up too fast because it could joke economic growth. ashley: it is a healthy economy, good and bad. us equities get more competition for a while because people who save money can get money back. stuart: i am going to call it a wishy-washy answer. >> it was. so lame. of the one susan shaking her head and laughing. is it good news for this economy? is it good news and signals the economy is expanded or bad news that the market will take on the chin? >> i thing it is good news. i'm looking at historical precedent. the year after the midterms, hasn't been a down year since 1946, usually the best year in a 4 year cycle for the s&p. the trend is upwards and earnings will prevent this quarter in the next quarter as well. stuart: there you have it, dramatic stuff.

barnes & noble may be putting itself up for sale. would you, a lot of investors are buying this at 20%. would you buy barnes & noble? >> absolutely not. it has a 10% yield, absolutely huge but the trend is they have a poison field to put in place, a lot of unsolicited buying going on, trying to prevent a hostile takeover is what they are trying to do but the trend is against these guys, so much easier to read an e-book, physical books are being done away with like the dinosaur. i don't like the trend. stuart: clean-cut answer. sears is going to close 11 stores, the first closure will be at a kmart in poughkeepsie, new york two days before christmas. scott. >> merry christmas. stuart: are you prepared to pull the plug on sears and say they are done? >> this ruined my holiday plans. what is funny is much like

barnes & noble i didn't know these guys were still open. that is news to me. a lot of these brick and mortar retailers have fallen behind the curve. look at pennies, sears, bones on noble -- barnes & noble, got to go with the big online retailers, walmart, amazon, that is where the money is. stuart: check the big board, we are four minutes into the trading session and down 80 points, 86 to be precise, one third of 1%. verizon is offering severance packages to 44,000 workers. that is about a quarter of the workforce, a lot of people. it will cost, they want to cut costs by $10 billion. for some reason the market doesn't care for that. it is down a fraction. >> it was announced when they made the merger with time warner. stuart: tesla is just below

$300 a share, down $1.80. the new york post reports the feds might investigate google over its android operating system. google is down this morning $12 lower, that is about 1% on the downside. then we have a european regulator, you might say they are at it again. netflix and amazon among other streaming companies will have to ensure at least 30% of their content is made in europe. cash grab? >> netflix said it would put in $1 billion towards its european or eu budget for next year but they are aware of this and european actors, european camera people, the whole thing is another example of the eu saying if you do business with our consumers, it is. stuart: do you agree with that? >> i disagree. who are they to mandate a business's job rate? it is a cash grab.

$1 billion in fines against facebook for a hack they didn't prevent. these are tough stringent regulations and they are clamping out businesses. stuart: we brought you the story the other day of amazon paying all their workers in america $15 an hour. surprise for that. amazon is eliminating bonuses and stock rewards for warehouse workers. i say that might be good news for employees because they have the certainty of $15 an hour versus the risk of owning some amazon stock. what do you say? >> i agree. this is a great political move by amazon for the christmas season, giving bernie sanders, bernie sanders named this act he was going after the bezos act so this was a great political move. it is a net gain for employees to take away stock compensation but a lot of employees will prefer this. stuart: another question for you. price of oil around $75 a barrel, that is where we are,

75, 74. do you think this rise in oil prices if it continues close to $80 a barrel, is that bad news for the overall market and the economy? >> yes that is my biggest concern. 10% gain in gasoline prices, $10 billion out of consumer pockets, with iran sanctions in november, an extra million barrels of the market, there is a real problem with supply and demand, supply being the problem. demand growing. ashley: the average will be $3 a gallon, we hear that from all the analysts. stuart: can you get me the national average for regular as of right now? 291. it is up another penny overnight. $2.91. looks dead set for $3 a gallon. adjusted for inflation it is pretty cheap. >> cheaper than it was in 2014 from what i remember.

stuart: $4 a gallon, the national average. ashley: $20. stuart: and counting. the big jobs report. we saw yesterday 230,000 private sector jobs created. this morning we see an all-time low in the firing rate. tomorrow how many new jobs, you have an opinion on everything. >> that is a good thing? 200,000 jobs created. >> 195. stuart: what have you got? >> 179,000. you have got to watch average hourly earnings. that is the backbone of how we are going forward, getting average early earnings up. stuart: what have you got? >> 201,000.

more bullish than susan. the economy is on fire and these tax cuts of more than mitigated the problem with rising interest rates. stuart: we are told to hundred thousand jobs is powerful big number. i don't think so. i go back to the early 1980s, ronald reagan cutting taxes and we regularly got 400,000 new jobs each and every month. >> more people looking for jobs. >> the economy has doubled in size, large numbers, 320 million americans in 1984, 85. a lot retired, baby boomers in the labor market. stuart: i demand 300,000 jobs every month. i see miles from the professionals.

it is that time, appreciate you being with us. we are down 60 on the dow industrials, 62 to be precise, a quarter a 12:45%. imagine being paid $500,000 per year to sit at home and play video games. it is becoming a reality. in our next hour, introduce one man who is doing just that, half 1 million a year to play games. your iphone can be turned into a body camera and record police. what is that about? we will tell you next. (vo hand) can we talk?

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stuart: we are 12 minutes in, down 79 points, hardly an enormous selloff after yesterday's record high. campbell soup in talks to sell its fresh foods business. deirdre bolton is that the stock exchange, they are selling fresh fruit, i thought that was where everybody was going. >> reporter: this particular company sells smoothies and salad dressing, they should have some supply chain issues, they don't seem to be executing particularly well and campbell's brought this company six years ago, when into half billion dollars and right now, talking about selling it off, $700 million, not a particularly profitable combination. campbell soup moving higher on the news, huge proxy fight with dan loeb of fairpoint who wants to replace all the directors on the board.

stuart: thank you very much indeed. you can now turn your iphone into a body camera to record your interaction with the police. ashley: this is quite remarkable. it is a shortcut apps, the latest on the new operating system, call police, trigger it by saying i am getting pulled over. what happens when you do that? would send a text, turns on do not disturb, send your contact location to all your contacts and records a video using the front facing camera and when it is stopped it is sent to a dropbox, cloud storage. all of your dealings with police is recorded through this shortcut. the developer says i don't think it is a bad thing to have if you have an interaction with the police. people say does the citizens version of police body cam. stuart: i suspect the costs are

less likely to let you off with a warning and more likely to give you a ticket. ashley: they don't know your phone is recording. ashley: probably have a good idea. you heard about 5g, not sure what it is or what it is about but this is a big deal and it is coming at verizon is going into it and for that reason jack how with barons likes the stock. >> there is low expectation built into the stock price. everyone think the wireless business is dead. they are quite healthy and had the first quarter of revenue growth in several years. stuart: a have given 7 packages to 40,000 people to save costs. they want to save money to stick it into 5gs. >> october 1st they turned on a

fixed broadband service. there are people who can get high-speed broadband using the new 5g from verizon. you can see an expansion of that next year and the first mobile device next year. you probably won't see an iphone with 5g service until 2020 so if you buy the new phone this year given two years and then get 5g. why would that matter to you as an investor of revenue won't ramp-up for that long? the valuation runs up ahead of expectation of revenue growth. this move to 5g will be nothing like 3g to 4g. this isn't just a bump up in speed but pretty transformative. it could be a powershift from cable companies to wireless companies. stuart: i have an iphone 7. come 2020 if i can get 5g, what will i get on this that i can't get now? >> what you will have first of

all, it will look like your television set. when you turn on a television you don't worry about download speeds or latency. everything happens instantly. it will look the same for your phone and transform the kinds of things people can do. it can open up a lot of new revenue opportunities for wireless companies and sell a lot more data. stuart: the big one, if -- the big screen is then connected to 5g, i have a walk in tv set. >> if you looked at those new phones try to get yourself a sweet deal, a big discount, there are no big discounts, and demand in the wireless business. everybody was worried about a price war, there is no evidence of a price war insight for wireless companies. >> why do you like hasbro's? >> a year after the toys "r quote us bankruptcy, hasbro is up twice as much, the toy

business is very much -- they have a knack of combining, becoming a twin maker, videogame company and movie producer, diversified entertainment. stuart: you like verizon, hasbro is down, what are you doing? >> i like things that are cheap. i try to find things that are cheap relative to cash flows and become more expensive in the future. stuart: that is a legitimate answer. >> call me crazy. stuart: thanks very much. we stabilized the market, we are down 79, 80 points but most of the stocks are in the red. retailers anticipate a strong holiday season but shopping more vacancies at the highest level in 7 years, the man who coined the term retail ice ages up next on this program.

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ask your doctor about neulasta onpro. so, howell...going? we had a vacation early in our marriage that kinda put us in a hole. go someplace exotic? yeah, bermuda. a hospital in bermuda. a hospital in bermuda. what? what happened? i got a little over-confident on a moped. even with insurance, we had to dip into our 401(k) so it set us back a little bit. sometimes you don't have a choice. but it doesn't mean you can't get back on track. great. yeah, great. i'd like to go back to bermuda. i hear it's nice. yeah, i'd like to see it. no judgment. just guidance. td ameritrade. stuart: we play the music, sears closing 11 more stores and the layoffs start two days

before christmas. can i say goodbye to sears? >> goodbye, finished, no question about it. breaking news, they are losing the most profitable store in the country, bridgehampton mall in the hamptons. the only discount department store out there, target, has taken it over, beginning of the end of the curtain coming down for sears. that he penalizes everything. stuart: that is pretty final. i want to talk about brick and mortar bookseller barnes & noble, maybe putting themselves out for sale. the stock is up 20%. is there room in america these days for a major large bookseller? >> yes, if the founder and his family with martin roberts buys the store, take them private, redoes it, they will be able to win both on land and online and

room for two. there should be room for toys "r quote us too but barnes & noble demonstrates with bringing in toys plus books plus media plus interactive plus learning plus lectures, barnes & noble only with him can win going private. stuart: amazon so dominated the bookselling scene. i got a kindle and i download books all the time. really? there is room? they need a lot of space, a big bookstore has a lot of retail space. >> completely correct but what martin roberts and lynn riggio did was create the experience inside the store you don't need a starbucks down the street, you can go for that within the four walls of barnes & noble and bring the kids to learn to read and have the media experience in the store. they have to go digital interactive with boards in the stores, less books, that way they can win -- stuart: you think they can win.

we gave that statistic. small closures, vacancies at a 7 year high. you are the guy that coined the expression retail ice age. can i conclude that if you are retail and you made it through the retail ice age and you are now still in business this strong economy will bail you out? >> absolutely right. retail ice age, darwinian destruction, they will freeze to death, never for a retail requiem but as you pointed out, strong economy, survivors will get stronger, better, make more money and some of them could be good investments. stuart: at what point do we start the retail shrinkage because of online selling? >> we forecast the retail ice age would end in 2019 and there will be a retail renaissance starting in 2020 with the survivors because of the strong economy.

stuart: the national retail federation, christmas, holiday sales up for a half% this year. is that accurate? >> we are saying 35, they are four, 5% increase is responsible. with better jobs report month by month it could be higher than 41/2%, often retail record. stuart: that will be a blowout holiday season. thanks for joining us, see you again soon. all right, the democrats delay tactics, they have slimed brett cavanagh, devastated his family, the left will stop at nothing to keep conservatives off the supreme court. that is my opinion. more of it on the top of the next hour. how do you win at business? stay at laquinta. where we're changing with contemporary make-overs. . .

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stuart: the democrats are tearing this country apart. their delay and derail tactics have slimed judge kavanaugh and devastated his family. it was deliberate. the left will stop at nothing to keep a conservative off the supreme court. and now, the left has taken its

shock troops to the halls of congress. senator flake confronted in an elevator by activists financed by george soros. there are roving groups inside of the capitol building harassing any and all republicans. mitch mcconnell harassed in an airport. an aide to democrats been arrested and charged with releasing personal information of republicans so they could be targeted. this is dangerous stuff. it is not over. looks like the full senate vote will be saturday morning, regardless of which way it goes, the left will go after anyone who votes yes. i don't think america likes this. i don't think america much appreciates the disgraceful sliming of judge kavanaugh either. there are signs that voters are taking notice. in several senate races republican challengers now lead incumbent democrats. a new fox poll shows a strong trend among republicans to get out and vote. why? because of the treatment of

kavanaugh and the behavior of the violent left. i would like to end on a positive note. here it is. hats off to mitch mcconnell. he could have walked away from kavanaugh and taken the easy way out but he didn't. he has a backbone. hats off to senator lindsey graham, he jumped in impassioned defense of the judge and called the democrats behavior what it is, shameful. tell it how it is, mr. senator. the second hour of "varney & company" is about to begin. ♪ okay, now this is a big deal. the latest read on mortgage rates, the number. ashley: actually down a hair from last week. still 4.71%. it was 4.72% last thursday. listen, there is a huge up side risk to mortgage rates because the economy is so robust and we know, given what we've seen on the 10-year yield, rates are

edging higher. we expect mortgage rates moving higher. full effect is not felt yet. stuart: we were at 3.19% on 10-year treasury. that is the base mark for mortgage rates. ashley: correct. stuart: it has gone up very sharply last couple days. ashley: seven-year high. stuart: seven-year high. this is my opinion, only a matter of time before we get to 5% mortgages. susan: very close. tiptoeing towards the line. there is up side to higher rates. steepest yield curve we've seen since may 2011. it is important because yield curve, if it flat ends is recessionary indicator which happened before 2008. there is good benefits. stuart: rising interest rates generally is a sign of strength in the economy. susan: yes. stuart: if we had decline in interest rates that could be a sign recession is coming. susan: long-term rates go below short-term rates, not a good sign for the economy.

stuart: gary kaltbaum joining us now. your thoughts please on rising interest rates. let me phrase the question differently? is this good news rates are rising because it signals the economy is strong, or is it bad news the rates are rising because it could hurt the stock market rally? >> rising rates could hurt the stock market as well as the economy. keep in mind on mortgages, take a 200,000-dollar mortgage. it is an extra 31,000 paid to interest over the life of it, by that mortgagee. it is not very good news. you just times that by every mortgage, every loan, every credit card out there, the cost of everything goes up. that provides a headwind as we move forward. so the reason it is going, interest rates are going up is good news. the outcome potentially bad news. stuart: that is very interesting, gary. just stay there for a second please. i do have to turn to politics for a moment. we got new fox polls which show

that judge kavanaugh, the fight over him, is helping republicans make gains in some key senate races. look at north dakota, for a start. incumbent democrat senator heidi heitkamp trailing republican challenger kevin cramer by 12 points. cramer was up by just four points only last month. he joins us now. congressman kevin cramer, republican from north dakota. great to have you with us, sir. >> great to be here, stuart, thanks for the opportunity. stuart: you're surging recently. is that because of kavanaugh? >> it is certainly helpful. i led in every poll taken since i got into the race. clearly there is a bit of an uptick. you know the history. the party that is in power in the white house during the midterm election often lacks enthusiasm, particularly when everything is going so well. we're, as human beings motivated more by what scares us than what

pleases us. the debacle of the senate judiciary hearing last week with judge kavanaugh was such a spectacle, it frightened people, rightfully so. there is evidently now a new standard for public service, that standard you can't have done anything wrong, even if you didn't anything wrong, if somebody claims you did something wrong 36 years when it is true or not, you are not elgible for high office. it scares people and rightfully so. stuart: i want to tell our audience we received out to senator heidi heitkamp to appear on the program, she refused our repetted requests. we'll keep trying -- >> that is common theme among the north dakota media as well with her. stuart: okay. louisiana senator bill cassidy, confronted by anti-kavanaugh protesters on capitol hill. senate leader mitch mcconnell harassed by protesters at an airport because of the kavanaugh situation. look, congressman, my position is very clear. these kind of confrontations are

extremely dangerous in a physical sense and i think they're a danger to our democracy. i'm pretty sure you share that with me? >> there is no question, stuart, it is scary and of course my friend and colleague steve scalise, nearly met the worst out come when he was shot last year on a baseball field by a liberal that was protesting far, far too vigorously. and then on top of that, stuart, you have literally have democratic public officials that are encouraging this kind of behavior. what we ought to have is civil discourse. we ought to return to that, if there is any way possible to do that. i think what it indicates today, speaking of what motivates, people, what frightens the left, that some day, we might be able to rein in, you know, abortion and regulatory over reach of the previous administration might be rolled back to the point where this economy even booms higher. these are frighting things to the left. unfortunately they're starting to take it out in pretty

frightening ways. stuart: sir, we appreciate you being on the program today. we hope you come back before the midterms. good stuff. thank you, sir. >> anytime, stuart. thank you. stuart: not quite the low of the day but we're certainly down. we're up 138 points right now. that is one-half percentage point. big name technology groups. we have all of them on the downside. facebook is down two bucks. look at amazon, it is down 17. apple is down two bucks. apple down $24. microsoft, oh dear me, down to 113. ashley: only financials doing well with the higher interest rates. that's about it. stuart: financials up, tech, most others down. what have we got there, price of crude oil at $75 a barrel. by the way the "new york post" reports that the feds might investigate google over the android operating system. google's stock is down today. as we said the price of oil, 75 bucks a barrel as we speak.

let's get back to gary kaltbaum still with us. you say rising oil and gas prices are also bad are to the market like interest rates. make your case. >> yeah, it is a big one-two punch. every tencent move at the gas pump over a year period is $10 billion out of consumers pockets. that doesn't include the cost to airlines and truckers and anything that gets delivered. so the cost of everything goes up. and i got to tell you, interest rates and energy prices, the two most important costs out there are rising, rising markedly. something that has to be watched very, very closely, a, because they're rising and b, the market and economy has been used to low rates, used to low energy prices. i'm not sure what happens if it continues higher. what is used to in the past may not be used to in the future. something to be watched closely. by the way, housing stocks, one of the worst-acting groups in the market because of rates going up. and oil stocks, one of the best

acting groups in the market because oil prices going up. so a lot of things happening. a lot of jell-o moving on the plate as i say. stuart: the news just keeps on flowing doesn't it. like a fire gusher come at you. gary, thank you. >> you got it. stuart: we have a business hour. remember blackberry? they were the phone company. they're more of a software company. and they're rolling out a new layer of protection they say would be practically unhackable. the ceo will be on the set to me to explain it all. president trump taking a hard-line on china. oh, yes, vice president pence will deliver a major policy address on that in our next hour. says china is meddling in our democracy. we'll talk to a former presidential speechwriter on the tone pence needs to set. this is quite a life. that gamer on your screen makes half a million dollars a year playing videogames. i'm serious, half million. it is the gaming revolution.

big money, that guy joins us in the, on the show today. i think he is in the second hour of our program which is this hour. we're rolling on with the second hour. straighten me out. ♪

stuart: well this is the low of the day, down 180 points. we're told that the threat of 5% mortgages and three dollar gas with rising interest rates and rising gas prices, that may be what has done it. we're down 187. that is the best part of 2/3 of 1%. it's a down day. how about tesla? it is down seven bucks this morning. we like to check it frequently because it has been a volatile stock. down to 287 as we speak. how about general electric? what is the first dollar number?

12. it has gone up 10% in the last three trading sessions since it got a new ceo. it is holding at 12.43 as we speak. now then, this is interesting, blackberry, they're introducing a new layer of security they say would be immune to quantum computing hacking, whatever that is. joining us john chen, blackberry's ceo. welcome to the program, john. >> thank you, stuart. nice to see you. stuart: are you telling me you're introducing a level of privacy that no one else can offer? >> well, that is going to be, i'm sure there is some, nsa base agents out there that know how to do these things but, yes, in general on the commercially available solutions this has got to be the top of the line. stuart: how are you doing this? >> well, blackberry has always been known for security, privacy, so forth, so forth. so we own a company called serticom which is the number

cryptology company in the world for a long, long time. this is a little-known fact. the problem with our marketing stuff. recently we have been working with a quantum computing company, quantum computing can hack any encrypted code. is there a way to create a library or recognize the fact you're being quantum hacked. i'm creating a term on fox. i don't know whether -- stuart: quantum hacked. >> i don't know whether that is even true. the point is to prevent can tum computing to hack your, to hack your encryption code so, this is what the library will release, probably will be in november this year. stuart: okay. producer, put back the script please. i want to make sure i got this -- thank you. i have to read this because i don't understand all of this. what about apps? is my facebook app, you can read the question, if you like, it is

on the prompter, is my facebook app more secure on a blackberry than on a some sung galaxy or iphone? >> data you transmit is more secure on a blackberry. the apps we don't do. stuart: okay, are you saying that the data you transmit is unhackable? >> no. it is more secure. those are two level things. i'm sorry to make it so confusing, i don't want to get a letter from facebook you see. stuart: you probably will. >> anyway, we are something going on any way -- stuart: i bet you do. you want to tell us about it? >> no. i will not comment. the point being that because the way we transport encrypted data and because the fact we don't know anything about your data we don't monetize data. there is one different thing about blackberry versus everybody else. we actually, our job is to transport your stuff safely and

securely. and privately. stuart: you don't do anything else? >> don't do anything else. that's it. so other people give you free stuff and then but, like, one of my colleagues said earlier but you are the product, you just don't know that. stuart: okay but you don't sell the information so -- >> we don't collect, sell, analyze. we don't do anything of those things. stuart: that is your principle marketing point or one of them. >> absolutely. stuart: that is a big marketing point for black per as we stand. >> banks, federal government, health care organizations uses us. stuart: i used to have a blackberry. i love that thing. text with two thumbs. ashley: keyboard was fabulous. >> lot of people could do it like think, i could. i was really good at it. >> i gave my colleague my phone. stuart: you're making news for me now. it might come back? >> well, i mean you never know. i licensed the technology. you know, when i get out of the

phone business making the phone, i never said, ever, that i would never have a phone. but on the other hand what we're doing right now, i think in my mind is pretty smart because i think -- i won't be doing it. but the point is i am licensing it to a number of partners around the world in india, indonesia, and in china and we're licensing the software technologies to provide user interfaces, the keyboards, the power supply and everything else. we are licensing all these technologies so they are making blackberry brand phone. we're just doing the qualification. so therefore the more phone that they make and more phone they make with the keyboards you will be able to get that back. the latest keyboard, the latest one is keyboard phone, physical keyboard phone. stuart: keyboard phone? no called key ii. stuart: this security thing you're announcing first time on

the program here? >> yes the, quantum. stuart: this program? >> this program. stuart: we like that. any good, john, we do appreciate it. >> thank you. stuart: thank you very much for bringing news today. we appreciate it. >> thank you very much. stuart: yes, sir. the new fox polls do show republicans making gains in key senate races. it is kavanaugh fight rallying voters we hear. doug schoen disagrees. he says the kavanaugh story is bad are to the gop. i thought this guy was a reasonable democrat? ashley: that is oxymoron. stuart: we'll put him on any way. like working in military intelligence. the senate convenience, and big speech from the floor of the senate by mitch mcconnell. it is about the kavanaugh debate. it will get rolling. we'll take you there when it happens. ♪ a once-in-five hundred year storm

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stuart: you are looking at the biggest loss for the dow industrials since august the 10th. we're now down 200 points. rising interest rates and probably rising gas prices, not helping this market today. the price of gold this morning is still at 1209. it is actually up six bucks. now there is a bloomberg report which says china is hacking apple and amazon. bloomberg says here is how they did it. they planted a tiny microchip in the server built by the chinese. ashley: yeah. stuart: but ash -- ashley: micro server. both companies hitting back hard, stuart. stuart: say it is not happening.

ashley: not happening. apple says we haven't uncovered unusual vulnerabilities in our servers purchased from supermicro. not found any ma like his chips or hardware or any vulnerabilities. the amazon web service that use this is service we shared with bloomberg that broke this story multiple times over past couple months, at no time past or present have with you found issues related to modified hardware or malicious chips. the story claims these spy chips were used to steal intellectual property, trade secrets from all the companies that did business with apple and amazon web services through that server. the company is denying it. stuart: got it. the europeans say if netflix and amazon want to do business over there, they need to produce a lot more of their content over there. susan? susan: 30% of their content, whether it is producers, actors, even the technical operations people that actually shoot a lot of this content. i feel like it is overreach in

europe. do they want tech companies to do business on the continent? threatened a half billion dollar fine for facebook for the recent hack. fined google $5 billion for antitrust behavior they say. goes to show whether they want technology companies, apple, amazon, facebook and the like to continue investing money in the european continent. stuart: you want to do business here, you will have fewer content. >> that is what the eu does. susan: unions. stuart: about an hour from now, very roughly, 60 minutes from now, vice president pence takes on china. part of it will be about china meddling in our elections, another part will be threatening out democracy. you will see it here live. look at your money. we're going down sharply so, rapidly so, we're down 247 points. however our next guest is bullish. he says we'll see 20% growth in

profits when we start reporting profits next week. 20% gains. he will make his case after this. ♪ how do you win at business?

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♪ she's got a ticket to ride stuart: we always take beatles songs from the early, early period. what about the middle period? what about sergeant pepper's? susan: if i like the early

stuff, you should like the early stuff. stuart: i was there are to the early stuff. you were not. susan: that's my point. stuart: yeah, thank you. not quite the low of the day but close, down 222 points we're down. big tex names i'm pretty sure all of them are down. i'm right. facebook, amazon, alphabet, are all down, sharply noble. barnes & noble may be putting itself is up for sale many investors like that. up 23%. campbell's soups, they're in talks to sell their fresh food business t could fetch, what, $700 million? maybe. the investors like it. the stock is up at $36. stocks are down today, but profit reporting season starts next week. our next guest says, it will be a strong profit reporting season. market watcher brian belski with us now. all right, brian, on this

program in the last couple days we've had analysts and market watchers on saying, look, when we start reporting profits they will be up maybe 20% compared to the same time last year. that would be very strong. what do you see? >> that is where consensus numbers r i don't know if i like this title market watcher but that's okay. stuart: what would you prefer, brian belski? >> how about chief investment strategist? at the end of the day what i do i invest and we forecast on the markets and we've been successfully accurate last nine years on this bull market. the end, the demise of the bull market has been widely exaggerated. i think you should be playing fool on the hill from the beatles with respect to all these negative market watchers coming out and telling us, the long and winding road. these market watchers that continue to say the market is going to go down. i went back, i'm in the process of writing my year ahead piece

for 2019. i write about what i said during the last years and more importantly what i said about the credit crisis. it remains to be seen, earnings will be good, earnings will be good and the multiples will continue to go down. multiples are down more than, earning are up more than prices are up this year, stuart, and i think majority of market watchers that have less than 10 years experience, they don't know what kind of market we're in. we're in a fundamentally driven market. we remained too macro as a marketplace, too analytic, we're in stock-pickers market continues through 2019. yeah the market is down today, but it is up a lot the last eight or nine years. we think the u.s. market in particular is the strongest equity market in the world. stuart: okay. what was that again, chief financial officer -- chief investment officer, right? >> chief investment strategist. keep it simple. call me anything you want.

just call me, how is that. stuart: all right, belski. ashley: the walrus. stuart: if the democrats take the house in november, what happens to the market? any impact? >> no. we still have a conservative president driving the conservative doctrine. with respect to politics in general you know politics overall can control the trajectory of the stock market. whether or not it is going up a lot or not that much. what we are going on is the fundamentals that drive markets longer term. the fundamental construct in terms of balance sheet in america has been strongest in 50 years. whether or not we have a democrat in or republican at this point doesn't matter because we believe the strength of the market will continue especially relative to other markets. remember a lot of global investors left the u.s., stuart, at beginning of the year because they were afraid with would happen in terms of tariffs. the market was up 21% last year. they have massively underperformed, especially the bad performance we have seen in

emerging markets in europe. now these market watchers, continue to use that, telling you to buy emerging markets because it is cheap. you don't buy things because it is cheap. you buy things because they're working fundamentally and what is working fundamentally is u.s. stocks. stuart: i got to tell you, belski, we do not have people on this program recommending emerging markets. that is not an area we get into fortunately. >> good. >> well-said. belski you can come back. can i summarize, your song would be ticket to ride for stock market investors? ashley: or help? or help? what would your, be your beatles song? >> revolution. ashley: i like that, revolution. stuart: political revolution or market revolution? >> it's a bullish revolution. stuart: bullish revolution. we like it, belski. you may come back. thank you, sir. appreciate it. good stuff. vice president pence will give what the white house calls

a major policy address on china our next hour. we know some of what he is going to say. we have an excerpt for you. china is meddling in america's democracy as president trump said last week. we have found china has been attempting to interfere in our upcoming 2018 midterms. he will say a lot as well. bill mcgurn, former bush writer for bush 43. it will be a hard-line speech, no retreat, correct? >> yes. i think it will be a hard-line speech because it will be filled with substance. we've talked to some people in the administration, people i trust say that what they have seen from china makes russia look like a minor player. we don't know the full details of this. they seem to be saying not so much hacking into systems which was one of the worries but kind of buying influence. these confucius centers at universities and so forth. the question what can we go

about it? if it's a matter of using legal routes to expand their influence in the united states i'm not sure there is much we can do about it. stuart: why isn't president trump making this major policy announcement? why is it vice president pence? >> i don't know. maybe they calculated president trump would look like he wants to get russia off his back. could be a thousand reasons. stuart: could be a good cop, bad cop situation. mike pence goes out there and all aggressive. president trump says i'm a good friend of president xi. he is a friend of mine. >> president xi is a president that consolidated power more than any other chinese leader the last 30, 40 years, right? it's a purity drive for marxism in china, right? china is feeling its oats now. it has a lot of money. i remember china when people walked around with plastic sandals and there were no cars back in the '80s. i think they want to be treated as a world power. they want to exercise their

influence. they have a couple of restraints. geography and so forth. i believe that president trump's america first policy is about reasserting american preeminence. do not mean we'll go everywhere and fight everyone everywhere but i think he thinks that we have the leverage now with the economy and so forth to reposition ourselves. stuart: why now, such a strong stand against china? is it because the midterms are coming? >> that could be one thing. also they could worry about the elections in 2020 coming up. if what they're saying is correct they're worrying about what china is doing. i mean it's funny -- stuart: is that level of concern about china meddling, really? because we've not heard this before? >> i think that is why you have a vice-presidential address that has been touted. they want to bring some attention to it. that is what they do. >> they will get it on this program. bill mcgurn. see you soon. two big stories we're following

for you. the senate about to begin debate on the kavanaugh nomination. we're waiting for any fireworks including mitch mcconnell. we'll take you there when it happens. he will stand in the well of the senate on the senate floor and introduce the kavanaugh debate. a big deal. we're also of course watching the selloff. we're down 220 points. first though imagine being paid a half million dollars to play video games? people actually pay to watch you doing it. that is happening. we'll speak to that gamer the gentleman on your screens. he is on the show next. ♪ making my dreams a reality

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is committed to working in my best interest. i call it my "comfortable future plan," and it's all possible with a cfp® professional. find your certified financial planner™ professional at letsmakeaplan.org. ashley: welcome back everyone, we're keeping an eye on the selloff in the market. the dow off 225 points. broad-based selloff. 10 of 11 sectors on the s&p down. rising bond yields, susan li we're told is the big reason. only sector showing any gains. we talked about this earlier is financials. but is the bond yield situation -- susan: 10-year treasury, yields highest in seven years. same thing with mortgage rates. steepening of yield curve now at the steepest since may 2011. nasdaq and tech sector seeing biggest decline. ashley: you're right, big tech names taking a hit. let's be honest we've had five

straight days of gains. record-breaking territory for the dow. susan: we were looking at 27,000 though. ashley: keep perspective. we're down less than 1%. we're keeping an eye on it. more "varney" after this. ♪

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up. so is the stock, 5% up on constellation brands. something a little different for you. imagine playing videogames for a living and making a half million dollars a year doing it? nick overton does precisely that. he plays the popular online gain "fortnite" and joins us now. nick, welcome to the program. >> thanks for having me. stuart: you have to explain what you're up to here. you play this one game. you play it competitively. you sit at home playing it. you play against other people who you don't actually see, people pay to watch you play. have i got that right? >> yeah. for the most part. a lot of people do this and have for a lot of games but "fortnite" is the latest craze. a lot of fun to play it though. stuart: but you sit at home in your basement at 4:00 in the morning and play the world at "fortnite," am i right? you get a half million a year for this? >> i can get anywhere from that

up to even more, depends on tournaments really. the tournaments, let's say this, epic games is the creator of "fortnite." they're putting 100 million into the game in the first year of competitive play and if you can win many of those tournaments, you could make millions of dollars in a year. stuart: so it's a competitive game and there is actual winners? and you're one of them. >> oh, yeah, yeah. we compete every week in tournaments hosted by them and third parties that are smaller tournaments for hundreds of thousands of dollars. stuart: when you say a tournament, is in like, either a stadium or a center, auditorium of some sort? >> it can be both, i was going to say. a lot of times it is online or hold one person, one attorneyment in person, we compete each other at an actual event of the last one was penny arcade expo up in seattle four

weeks ago, three weeks ago. stuart: the big game at moment, "fortnite," as soon as that loses its act train shun you will go on another game? >> it really depends f another game has same aspects fun, competitive, can create a really good environment and community, maybe. but no game can hold the top forever. everything goes down a little bit, but still might be the game to play for a while. stuart: how much time in any given 24 hour period do you play videogames? >> i would say on a day-to-day basis probably eight to nine hours. susan: wow. stuart: you regard that as practice? you play the same game all the time? >> i do play the same game, yeah, but not always practice. one of the biggest revenue streams for competitive and professional players in general is the entertainment side of it. so live streaming or creating

content for youtube, that generates a big portion of our revenue as well and, a lot of that stuff isn't going to be hardcore practice time. it's a lot of just creating fun content, being an entertainer. stuart: okay. this is fascinating to me. ashley: look at all the patches. stuart: the people in studio are laughing at me. very envious of you, young man. great stuff. i hope you come back to see us again because this is a brand new area of money making, we sir are fascinated. nick come back soon. we'll see you again, thank you. >> thank you very much. ashley: see the patches on his shirt, all the sponsorships? stuart: get money for that. i should wear patches. >> oh, my god. stuart: maybe not. apple strongly denying that report which said chinese spies attacked their hardware. hillary vaughn with that story. what is apple saying? reporter: hi, stuart. well apple is saying that bloomberg contacted them

multiple times adding quote, that each time we have conducted rigorous internal investigations based on their inquiries and each time we have found absolutely no evidence to support any of them. we have repeatedly and consistently offered factual responses on the record, refuting virtually every aspect of bloomberg's story relating to apple. on this we can be very clear apple has never found malicious chips, hardware, manipulations or vulnerabilities purposely planted in any server. apple never had contact with the fbi or any other agency about such an incident. we're not aware of any investigation by the fbi nor are our contacts in law enforcement. we're deeply disappointed in their dealings with us, bloom per reporters have not been open to the possibility, they, or their sources might be wrong or misinformed. stuart, amazon web services i reached out to them, here's the statement they give me. they are also denying this

report completely saying at no time, past or present, have we ever found any issues related to modified hardware or malicious chips in super micro mother boards or any elemental amazon system. a lot of back and forth on this. two major companies apparently caught up in the report are flatly denying truth behind it. stuart: flat-out denial. hillary, got it. appreciate it. now this. i used to think doug schoen was a reasonable kind of guy. but he says the fight over kavanaugh will benefit the democrats. oh, i'm going to take him on next. ♪

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it's a revolution in sleep. the new sleep number 360 smart bed is on sale now, from $899, during sleep number's fall sale. it senses your movement, and automatically adjusts to keep you both comfortable. it even helps with this. so you wake up ready to put your pedal to the metal. and now, during our fall sale weekend special, the queen sleep number 360 c2 smart bed is only $899. plus, 24-month financing and free home delivery. ends monday. sleep number. proven, quality sleep. stuart: with the dow down 200 points, what is up with gold? up five bucks at 1208. now then, take a look at this. this is from my old friend doug schoen, otherwise known as democrat. he is still a democrat. look at this. make mo mistake even if the fbi gives kavanaugh a clean bill of health it will play out to the

detriment of republicans who are already down seven or eight points in the generic ballot. the man himself is smiling away. >> absolutely, stuart. stuart: how wrong, can you be? >> well i think -- stuart: wait. >> i'm waiting. but frankly, i believe the positive gets baked in once kavanaugh is approved, if in fact that happens. and democratic women and independent women, particularly in the suburbs, are so mobilized, that that confirmation, in my judgment will galvanize democrats particularly in the house races, probably not to the same extent senate race is. stuart: well, consider this. what would you democrats have done quite deliberately by a deliberate plot, dei lay and derail. quite deliberate -- >> are you talking about with merrick garland with delay and deray? stuart: talking about kavanaugh. you have destroyed this man and

destroyed this family without any bases of corroborating witnesses, a time, date, place or anything to back you up. you have destroyed a man. i don't think americans sit back and think that is okay. i just don't. >> look i am sympathetic to the view, at same time -- stuart: are you sympathetic to kavanaugh? what would you say to his children? >> i would say to his children, he is a man who has led mostly if not totally an exemplary life and i'm sorry this played out as a totally politicized process but it is, what is happened in our system on both sides. stuart: i think that is exactly what democrats should be doing with mr. kavanaugh, apologizing to him, his wife, his children. >> i was not apologizing, i was explaining. stuart: you should. i don't think in america we should be destroying people for political reasons. i don't think we should do that. >> i certainly agree with that but again it was not just democrats. there were lots of voices from people who are not in the system who raised questions are now

hopefully resolved stuart, by the fbi report. stuart: what questions? >> questions about his behavior. stuart: no corroboration. no witnesses. >> stuart, on -- stuart: you propose to destroy a man on based of -- >> not doing too well getting in a word edgewise. stuart: you're a good friend and decent guy. >> i like to think so. stuart: it is disgusting to do this in america. it is drills gusting to this to a man. >> witnesses have come forward, there is enough a republican jeff flake and two other republicans, lisa murkowski and susan collins asked for the fbi investigation. we're going to see it. i believe in this country you look at the report, make a judgment based on it. but you asked me about political ramifications and i think women are particularly galvanized and in house races it will have an impact as we've seen in the fox news polls? the senate polls not so much. stuart: "qunnipiac poll" out last night. 86% of republicans want judge

kavanaugh confirmed. 88% of republican women want kavanaugh confirmed. >> right. if you look at independents, and independent women, you get different answers. democrats hold mirror the opposite views. if democrats are more mobilized it will cabinet positive marginally to the democrats but i think ultimately by election day it will be the issues of health care, jobs, the economy, immigration, that will be more important than, this matter. stuart: we're done. i didn't interrupt you at the end. >> why, thank you. stuart: you're all right, doug. i don't care what they say. >> you're more than all right, stuart. we love you in florida. stuart: stop it. big hour coming up. >> low taxes. personally great. stuart: i love it. the senate reconvenes to debate the kavanaugh thing. we may hear from senate majority leader mitch mcconnell. you will hear it at the same time. we have a big speech on china coming up from vice president pence.

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11:00 a.m. on the east coast, eat in california. big hour for politics and a big hour for your money. we have it all coming. left-hand side of the screen, the senate is convening to debate the cavanagh nomination. mitch mcconnell likely to speak. we will take you there live when he does. right hand side of the screen, democrats are holding a news conference on the cavanagh report. any fireworks, you will see them right here. also happening, vice president pence about to give a policy speech on china. the other big story, your money, stocks are down, interest rates are moving higher. the dow is down 200. we have it all covered for

you. the third hour of bunion company starts now. "varney and company" starts now. >> we are starting with politics. were waiting for mitch mcconnell to speak. chad is on capitol hill. just take me through it, what's going to happen today. >> right now there is a a group of senators, democrats and republicans in a secure area looking at the report that was sent capitol hill. it was sent at 230 in the morning earlier today. fred the chair has already gone through this on the democrat side and said there's no corroboration of allegations made against brett kavanaugh. what we are in right now is what we call an intervening day. they set in motion a procedure that would end the debate tomorrow. today is the layover day.

they will ripen to this procedural vote on wednesday if they are able to cut off debate. they reported 30 hours once you end debate on the nomination. we think this will go late and of the day saturday or saturday night. >> you said the big debate. friday is the debate day, right. >> yes, up until we have that debate. today's the big day because you have to vote cut off debate. you'll hear from both sides making their case for and against brett kavanaugh. there were some fireworks, mitch mcconnell was vocal about protesters in the hallway, he said we won't be intimidated and chuck schumer came right up to the line.

>> i want to ask you about the protesters on capitol hill. i think it's a terrible thing. this is a big scene, a big vote. it's a close vote. you could come up here in advance your opinion, you can't harass them or get in their way or block their access. that's why they been having police officers escorting senators to and from votes to keep the press back. it's a balancing act. this is the people's house on capitol hill. there has to be some reasonable access for them to come in and make their case known. there is the freight and they need them to make their decisions above the fray. >> i've got to tell you, i don't like to see paid

protesters roaming around on capitol hill shouting and screaming at our senators. i don't like to see that. i think it's bad for democracy. senator perdue from georgia, he had a pretty feisty floor speech last night, upset at these demonstrators costing senators and restaurants, we had another situation that's a form of protest, potentially criminal, i reported last night the u.s. capitol police had arrested an unpaid intern, the congresswoman from texas, for doc thing at least three republican senators, all members of the judiciary committee and was able to report very early this morning after midnight that rand paul had been docked. were not sure if that's the same situation. they will appear in court this afternoon it washington d.c. >> thank you very much.

>> we had on the downside in the dow 30. now we are up 184 points. that's not the low of the morning, we were down well over 200 points earlier. the big problem right now appears to be rising interest rates. this is the yield on the ten year treasury. the yield has gone up to 320. that's a significant jump just in the last couple days. joining us now moody's managing director john, he is an economist. them question to you as earlier. these sharply rising interest rates, is that a sign of good sign that the economy is really doing well or is that a real bad sign for the market? >> it means the economy right now is doing very well but the markets worry is that this latest climb by the treasury yield is fundamentally unjustified. it's not all that strong. for instance, for the year to date, the overall market is up

eight or 9%, housing sector stock prices are down by nearly 18%. moreover, because of worries over the eventual loss of sales to an even higher funds rate, the median price of six auto companies for the year to date is down by 16%. sectors are beginning to suffer in the equity market over fears of higher interest rates and a further loss of sale. >> do you think it will go much higher? does it go much higher in the immediate future. >> it may go higher but i will tell you, i think rather quickly once these higher interest rates begin to hurt home sales, begin to hurt motor vehicle sales, there heading lower in a hurry. they won't stay above 3%. >> the september jobs report comes out 830 eastern time tomorrow morning. i'm expecting a strong robust report. we will get to how much in a minute. what say you. >> i say 185,000 jobs.

>> diane feinstein is speaking. let's go to her right now. >> i'd like to be able to talk more about what the fbi did later, but what i can say is the most notable part of this report is what's not in it. as we noted by the white house, the fbi did not interview brett kavanaugh, nor did the fbi interview doctor fort. what we heard from numerous people over the past few days seeking to provide information to the fbi, we have seen even more press reports of witnesses who wanted to speak with the fbi but were not interviewed. deborah romero's lawyer said he was unaware of any corroborating witnesses. candidly, what we reviewed today in a very limited time,

i was there, i had to leave the report is in part and i had the opportunity to read some but not all of it. it looks to be a product of an incomplete investigation that was limited perhaps by the white house, i don't know. >> were going to leave senator feinstein and go to vice president pentz who has just begun his major speech policy announcement on china. let's listen into that. >> it is an honor to be back at the hudson institute. for more than a half-century, this institute has dedicated itself to advancing global security, prosperity and freedom. while hudson's hometown has changed over the years, one thing has been constant. you have always advanced that

vital truth that american leadership lights the way. today, speaking of leadership, allow me too begin by bringing greetings from a great champion of american leadership at home and abroad, i bring greetings from the 45th president of the united states of america, president donald trump. [applause] from early in this administration, president trump has made our relationship with china and president she a try already. on april 6, president trump welcomed the chinese president tamara largo. he traveled to beijing where china's leader welcomed him warmly. over the course of the past two years our president has forged a strong personal relationship with the president of the people's republic of china and they worked closely on issues of common interest.

most importantly, the d nuclear station of the korean peninsula. i come before you today because the american people deserve to know that as we speak beijing is applying a whole of government approach using political, economic and military tools as well as propaganda to advance its influence and benefit its interest in the united states. china is also applying this power more proactive ways than ever before, to exert influence and interfere in the domestic policy and politics of this country. under president trump leadership the united states has taken decisive action to respond to china with american action. they apply the principles and the policies long advocated in these halls. in our national security strategy, that the president released last september he described a new era of great power competition for nations

have begun to reassert the information globally and they're trying to change the international order of favor. in this strategy president trump made clear that the united states of america has adopted a new approach to china. we seek a relationship grounded in fairness, reciprocity and respect for sovereignty, and we have taken strong and swift action to achieve that goal. as the president said, we haven't opportunity to strengthen the opportunity between our two countries and improve the lives of our people. our future is built on the best parts of our past. when america and china reached out in a spirit of openness and friendship.

when our young nation went searching in the wake of the revolutionary war for new exports, the chinese people welcomed american traders. they were laden with ginseng and further. when china suffered through indignities and exploitations through the century of humiliation, america refused to join in an advocate of the open-door policy. >> live action program, let's go to mitch mcconnell on the floor of the senate. >> it washes away what's left is a distinguished nominee standing before us. in a claims judge our jurists whom the american bar association gave it's very highest rating unanimously well-qualified. here's what they said it takes

to earn that distinction. to merit a rating of well-qualified, the nominee must be at the top of the legal profession in his or her legal community, have outstanding legal ability, a breath of experience and the highest reputation for integrity and demonstrate the capacity for sound judicial temperament. this is the nonpartisan test that my friend the democratic leader among others used to call the gold standard. judge kavanaugh passed out with flying colors. to be clear, this seal of approval comes from the aba standing committee on the federal judiciary, an independent entity within the organization. even after the aba president tried to place politics with the nomination last week, the

standing committee reaffirmed its rating yet again. it's unanimously well qualified. that's brett kavanaugh. how do we get here? how did we get from a chorus of expert praise and professional respect to wild tales, sexual assault rings, fistfights on votes on rhode island harbor and the possibility of an argument? in a college bar? an argument in the college bar. several weeks ago, a confidential allegation of misconduct from nearly 40 years ago was leaked to the press. since then, other allegations have poured forth, many were

just ridiculous. a feeding frenzy of ridiculous accusations. while some cheered on the feeding frenzy for political purposes, chairman chuck grassley and his staff rolled up their sleeves and went to work. they promptly investigated the allegations that materialized at the last minute. chairman grassley reopened the public hearing so doctor ford and judge kavanaugh could speak directly to those claims under oath. that was after he offered doctor ford the option to tell the story at any place of her choosing either here or in california, either in public or in private, either with staff or with members and offer their testimony with

seemingly never actually communicated to her by her lawyers despite a professional requirement to do so. now of course the fbi has completed a supplemental background investigation and delivered its results to us here in the senate. this is now the seventh time the fbi has thoroughly reviewed judge kavanaugh's background. seven fbi investigations. what did we learn? one of the facts and the evidence tell us after seven fbi investigations? the fact is these allegations have not been corroborated. none of the allegations have been corroborated by the fbi

investigation. not in the new fbi investigation, not anywhere. none of these last-minute allegations have been corroborated as confirmed by the seventh and latest fbi investigation. as chairman grassley stated this morning, near th neither the judiciary committee nor the fbi could locate any third party who can attest to any of these allegations. no backup from any witnesses including those specifically named as eyewitnesses by the people who brought the allegation in the first place. let me say that again. no backup from any witnesses including those specifically named as eyewitnesses by the people who brought these

allegations. in addition, one person has completely recanted their whole wild story. another accuser went on television and backpedaled for many of their own ridiculous charges. the facts do not support the allegations levied at judge character. in fact they support his strong, unequivocal denial, which he repeatedly stated to committee and investigators under penalty of felony. he firmly restated under oath last thursday before the full committee and the american people.

it aligns with the testimony of hundreds of character witnesses who have known him over the years. for goodness sake, this is the united states of america. nobody is supposed to be guilty until proven innocent in this country. nobody is supposed to be guilty until proven innocent in the united states of america. the senate should not set a fundamentally un-american precedent here. judge kavanaugh's right to basic fairness does not disappear just because some disagree with his judicial philosophy. our society is not a place where uncorroborated allegations of misconduct or from nearly 40 years ago,

allegations which are vigorously disputed and nullify someone's career or destroy their reputation. is that what the senate's going to be known for? you nomination comes up here and we destroy your reputation. that's what the senate is going to participate in? so above the partisan noise, beyond this shameful spectacle which is an embarrassment to the senate, what will endure are the actual facts before us. the actual facts. upon reviewing them, only one question is left breast answer, is judg judge brett kavanaugh qualified to sit on the united states supreme court there is a good reason

the clinical opponents of this nomination have never wanted to litigate that issue. they want to talk about that. there's a good reason while they left the politics of personal destruction runaway ahead of the facts. in an effort to dodge that very good question, because brett kavanaugh is stunningly and totally qualified for this job. we are ready know this, but for starters his academic and legal credentials are second to none. from el with honors and on to yale law school, then came not one, not to come about three clerkships in our nations federal courts ending up with justice kennedy.

his career in the work of independent counsel and the office of white house counsel and that was only the beginning. the past 12 years brett kavanaugh has served on what is widely considered the second highest court in our land, the d.c. circuit court of appeals, written more than 300 judicial opinions, formed the basis of later rulings by the supreme court itself, the litany of accomplishments is a fact. it's a matter of public record, but just as telling are all the accounts of brett kavanaugh the person that have been volunteered by those who have known him every step of the way over the years. we have heard from literally hundreds of character witnesses who heaped praise on the brett kavanaugh they know, the loyal friend and teammate,

the standout student, the talented hard-working colleague, the brilliant legal writer, the respectful role model and mentor, particularly the women, the devoted husband, father and coach. these letters and recorded testimony were offered by men and women nothing to gain for themselves. they were just glad to tell the truth about a nominee who they know possesses the character and temperament and qualifications for this important job. judge kavanaugh's professors and others who knew him at yale describe a true intellectual, a leading thinker, a wonderful mentor and leader in one go so far as saying it's hard to name anyone with judicial credentials as strong as those of judge brett kavanaugh.

his former law clerk's an in full support say his work ethic flows from a fundamental humility. they say he gives unflinching, honest advice and listens carefully to the views of his colleagues and clerks, even when they differ from his own. here in washington they haven't men's their words either. they say not to miss this opportunity to put such a strong advocate for decency and civility on our nation's highest court.

so mr. president, let's not lose sight of the opportunity before us. this process has been riddled by fear and anger and underhanded gamesmanship for too long. we owe it to the american people not to be intimidated by these tactics. we owe it to the american people to underscore that you are innocent until proven guilty. it's the senate that is on trial here. what kind of image will we convey? can we be scared by all these people rampaging through the halls? accosting members at airports, coming to their home, they're trying to intimidate the senate into defeating a good

man. are we going to allow this to happen? in this country? we will not pretend that partisan histrionics take away the basic fairness that every american deserves. we will not be hoodwinked by those who have tried hard to smear this good man and drag him through the mud. when that didn't work. they spoke up and they

aggressively defended his good name against this outrageous smear conducted with senate democrats. who of us would not have been outraged by having a lifetime record drug through the mud with accusations that cannot be proven? in a blatant attempt to decide on the part of at least some democrats that the presumption of innocence no longer applies in this country. what kind of person couldn't have been upset about that. a claim he spoke too forcefully in defense of himself after being accused of such outrageous behavior that

cannot be proven? i admire him for standing up for himself and his family. i'd be shocked if it were not done in an aggressive fashion, for goodness sake. let's reclaim this moment for what it should be, a chance to elevate a stunningly talented and impressive jurist to an important office for which he is so well-qualified. he is so completely and totally qualified. a golden opportunity to give our great nation precisely the kind of brilliant, fair-minded and collegial supreme court justice that the court deserves. this, mr. president, is the good that senators will have an opportunity to do.

we have a chance to do good and to underscore the basic tenant of fairness in our country. i will be proud to vote to advance this nomination tomorrow. >> that was about as impassioned a speech as you are likely to hear from senate leader mitch mcconnell. he was defending the integrity, the character, the personality and the qualifications of judge kavanaugh. with me, wall street journal editorial guy, steve hilton, fox news channel the next revolution. >> steve hilton. let's get things right. >> okay.

[laughter] look, he's not an impassioned speaker, but that was about as forceful as you get. your response. >> i agree with that. there was one point where it seemed as though brett kavanaugh was about to be overtaken by emotion. this has been a defining event for this generation of politics and one of the most divisive that we have ever seen. normally the senate is a club, they disagree on things and at the end of the day they talk to one another, this looks like it has driven a wedge between the senate republicans in the senate democrats. we saw that with lindsey graham's speech during the hearing, and now mitch mcconnell. clearly there has been a break between the two parties and it all comes down to the substance of the accusation against brett kavanaugh which is to say christine ford made her accusation, but there was nothing beyond it, not a single piece of corroboration,

and since the democrats have chosen to load their entire opposition to judge kavanaugh on that one strand. [inaudible] they don't have any third-party witnesses to back up any of the allegations. he said one person recanted the entire story and another is backpedaling. the only question is, is bret kavanaugh qualified. on a personal note i've been disgusted by this process. i can't stand the idea of a decent man and his family being slimed in this way. >> i completely agree with what dan said and i pick up where he left off in terms of the country. what's interesting is your reaction, my personal reaction to these tactics. it was set up by chuck schumer that they will oppose this with everything they've got.

it was the democrats who put her in the position of having to go through this public process when she wanted it to be private. they used her as a political weapon, they pursued politics of destruction and division and the result is immobilization against them and it will backfire on the democrats. the whole country, not just the republican base, but any fair-minded person accept this and says we don't want this kind of politics in america. they're going to get punished for it. two i do want to break in with this news item. this is important. as you know there are some republican senators who have been wavering on judge kavanaugh. they include susan collins of maine. she has just come out and said the fbi report on kavanaugh, the seventh investigation appears to be very thorough.

i think that's a very important statement. >> others said it was very incomplete and limited. that's hugely significant. >> our washington d.c. producer chad, i think that is of great significance that susan collins would describe the fbi report has very thorough. >> absolutely. everyone is trying to look for clues at this point as to how that group may vote. remember, they were the ones who wanted the delay. they said let's at least run this through, have the fbi investigation, and then we will make our adjudication as to whether or not we should try to confirm brett kavanaugh or not. that is significant. let's look at the map. 49 republicans right now so collins flips ts that puts you at 50, may be lisa murkowski gets you to 51. only then would you anticipate democrats coming on board. we don't expect any to vote for brett kavanaugh.

we believe the deciding vote if republicans can't lug them across the finish line on their own. >> an important statement, very thorough is susan collins description of the fbi investigation. i would say that kind of tips things toward a yes overall. reading the statements over the past week, it was pretty clear to me that she was leaning toward kavanaugh. she was not saying anything in flux, she had serious doubts about it. they clearly wanted the cover of this fbi report to say they have gone the extra mile. we have reached the end of the mile as senator cornyn said. we have gotten to the point where we have to vote and that is what mitch mcconnell is driving the process toward, a finality probably sometime saturday afternoon. >> i would suggest anybody who votes yes on the kavanaugh

nomination will truly be gone after their fury will be so great not to rethink their campaign of divisiveness but to redouble their efforts. it will be counterproductive. >> i think it's dangerous for our democracy. when you have face-to-face, ugly confrontation in the walls of congress by paid protesters, i think you've got a problem. if one senator pushes back, that's exactly what they want. that's an assault. i think the democratic party has a problem similar to what the conservatives have with the john birch society when

people stepped forward and said we have to separate ourselves from this element on the right, the democrats clearly have a mob element inside their party and they will have to eventually separate themselves because the average voter out there in the country simply does not count. >> i really want to get to that because i don't believe america is ready to trash this man for political reasons. i don't believe america is behind the democrats on this wholeheartedly. i think were increasingly behind the republicans. am i right? >> we can make a joke of this but let's get it on the table. >> after donald trump won, democrats went into resistance. they have this intensity for the entire time of the trump presidency. it's about reached its ceiling. now you have a kavanaugh event and i think they have been animated by what has happened

and you see them moving forward and committing themselves on the midterm elections. >> what does it mean for our society, overall, if judge kavanaugh is confirmed on the supreme court and there is a conservative majority. >> i think the biggest thing is a return to the court's proper role, not in playing out political disputes that should be in the election system, but in judging the constitution. >> senator schumer is on the floor speaking now. let's listen. >> compelling, knowing she would risk so much on herself which unfortunately has happened, he seeks to blame someone else, in this case, the democrats. let's remember doctor ford came forward before judge kavanaugh was nominated. doctor ford came forward and

called up to people before anyone knew of her allegation including one, a hotline from the washington post. that's according to her testimony. our colleague has engaged in a giant game. he knows how believable doctor ford is. he knows how the american people, a majority of them believe doctor ford was telling the truth rather than judge kavanaugh. he knows that any focus on doctor ford would bring more feelings that judge kavanaugh is the wrong person for the supreme court, but he can't attack doctor ford because of her credibility, greater than judge kavanaugh and so democrats are increasing the partisan rancor and the fundamental lack of getting to

the truth in this chamber. i'd like to ask the majority leader about what he said a few minutes ago. he said this debate has been filled with partisan histrionics. mr. leader, are you accusing doctor ford of engaging in partisan histrionics when she came forward? he said the politics of personal destruction is rampant. again mr. leader, are you accusing doctor ford of engaging in the politics of personal destruction? he talked about people being intimidated. again, mr. leader are you accusing doctor ford of intimidating the senate because she had the courage to come forward? and he talks over and over again about the outrageous smear. mr. leader, it's about time

you came forward and came clean. when you say outrageous smear, you really are referring to what doctor ford said, but you can't say so because everyone knows that kind of rhetoric would be outrageous, but it's her testimony that got this whole thing going. her testimony required by one courageous republican who said he wouldn't just rush things through as leader mcconnell rushed things through. i'm sorry there is. that's why there was a hearing. not any democrats, none. i fed the leader is telling one of the greatest myths tunes i've heard on the floor that democrats have delayed. again what power do we have two delay? isn't it true that you set the time and place of hearings or

your committee chairs do, and you set the time and place of lonely vote with no effect removed erica, no influence by democrat. if you delayed, it's because you've delayed. but ultimately, doctor ford came forward and won america's hearts and our republican colleagues were upset that might derail their headlong rush to put judge kavanaugh on the supreme court led by judge kavanaugh and by president trump and leader mcconnell, they have tried to misdirect the whole issue away from doctor ford who is the cause, the reason we are debating all of this and toward other

bogeyman, many of them who happen to be democrats, coincidently. it's wrong, but our republican friends are doing what my dear friend the leader is doing and it's demeaning for doctor ford. i would say to the leader, if you're talking about partisan histrionics, if you're talking about politics of personal distraction or outrageous smears, you are really accusing doctor ford of all that, not anyone else because she is the reason we are all here in this type of discussion and no democrat importuned her to come.

no democrat. senator feinstein tried to respect her wishes and not make it public. that was not a political instinct, that was a human instinct. as i understand that their staff called each week and said do you want to go public now and now because she did that our republican friends are accusing her of manipulating it. manipulating what? doctor ford's desire to keep this private? she wrestled with deciding how to go public. she knew the damage it would create for her family, for her life, her very life, but she decided she had an obligation to come forward. i believe her, a large number of americans believe her but even if you don't believe her and you choose to believe

judge kavanaugh, don't demean doctor ford which is exactly what you're doing. it's a shame, it's a low point in a headlong rush to get somebody whose views are out of touch with the american people who would, in all likelihood, greatly limit women's health, care and women's right to choose who would greatly restrain healthcare and allow the president to overreach with no constraint. doctor ford seems to be a casualty along the way in terms of the name-calling, the nastiness. they don't say it's doctor ford, but make no mistake about it, it's her they're talking about. it was only she was talking

about. >> i just want to break away for a moment. i believe senator schumer is just wrapping up. chad is with me, look, i've never seen such a personal face-to-face clash between the two senior senators on the floor the senate before. have you? >> it's pretty rare. there were times where harry reid went at it with bill and others, there's been some pretty tense time to go back to the 1980s between robert byrd and bob dall but there was a time where robert byrd would not even go to tennessee to campaign for democratic senate candidate for the other tennessee senate seat because howard baker who is the other from tennessee was, that shows you the level of comedy so to have these attacks on the

floor. we had the lines about mitch mcconnell talking about histrionics. we have all these protesters and histrionics and this is where chuck schumer turns that on mitch mcconnell. he said are you accusing doctor ford of partisan histrionics. i'll tell you what this is all about. it's about 33 days from now, the midterm elections, immediately schumer is making the appeal to female independent or suburban voters. he said his doctor for the casualty and all this come about that voter that they are trying to court. look at what he did in his remarks regarding healthcare. this is going to be a swing vote on the court and the idea that it says look what justice kavanaugh would do on healthcare, they immediately lining that up to try to energize the democratic base this fall. >> i think senator schumer made the case all around

doctor ford. she is at the very center of his argument and the way she was treated. your response. >> that suggests why it was so personal or seems personal between mitch mcconnell. they were mentioning harry reid and some of the battles of the past, the policies of implications and the effect on people, this isn't about policy, this is totally personal. this is doctor ford's testimony against doctor ford's response and this is why there has been so emotional. chuck schumer is making an emotional appeal to women voter voters. make no mistake there are a lot of voters out there who voted for donald trump because it was about the supreme court. one thing i would really recommend is the wall street

journal editorial which puts the political context so clearly and this is tha a piece of the whole deplorable incident because it reminds people you have this democratic establishment that is so contentious of so much of america and believes it has this right to power with the balance tipping against them, the first time in a generation. >> i want to remind our viewers we had breaking news about the kavanaugh nomination midway through the statement by mitch mcconnell and senator schumer. the statement came from susan collins, republican of maine. she has been wavering. we did not know whether she would be a yes or a no. she came out and she said she has seen the fbi report and it was very thorough.

i'm suggesting that employs a yes vote but one simply cannot be sure of this but it appears she is wavering toward a yes vote if she found the fbi report very thorough. stay right there, look at the big board while all of this has been going on dow industrial stay down approximately 200 points. the big damn politics, big date and your money. we have it all after this. an old friend. a new beginning. some welcome relief... or a cause for celebration. ♪ what's inside? ♪ [laughter] possibilities. what we deliver by delivering.

two big stories we are following for you. the dow is down 200. left-hand side of the screen, on the senate floor, a debate is beginning on kavanaugh. we have seen point, counterpoint, mitch mcconnell and senator schumer. vice president pentz is speaking about china. listen to some of what he had to say. >> china is meddling in america's democracy. as president trump said last week, we have found china has been attempting to interfere in our upcoming midterm elections. our intelligence immunity says china is targeting u.s. state and local governments and

officials to exploit any divisions between federal and local levels on policy. it is using wedge issues like trade tariffs to advance beijing's political idealism. >> it was a tough speech. hardline trump on china. we want to get back to the kavanaugh debate. we just got some interesting gop fundraising numbers. >> this is a source of the national republican congressional committee looking at the amount of money coming in, raising money. this last week compared to the same time in august those donations up 175%. the amount raised is up 194%. the average gift given to the republican party is up 111%. >> the implication is this is kavanaugh. >> that it's backfiring on the democrats and firing up the

republican base to get more involved because of what they've seen during this process. >> could it be that the kavanaugh nomination and the sliming of kavanaugh is a big plus politically for the republicans in november. >> yes. it reaffirms the benefits of voting republican. you get actual results, but secondly it shows people why they are so angry with the democrats and the way they behave in the way they treat them and think about anyone who is not in their camp. i think that is why it reminds me very much of the mood in 2016 and 2018 could be another big surprise. stuart: something is happening, bubbling away beneath the surface and it comes out when no one is expecting it. what do you think? is kavanaugh a plus for the republicans. >> i think it's definitely up plus. the question is will it crash on the shore with the vote and will the republicans be able to sustain the energy across the next 30 days up to the

election? it looks like possibly they will in the senate. they might increase their seats in the senate. kramer is 11 points ahead of heidi heitkamp in north dakota but there's also a question of the house. it will be up to the candidates and the republican party spread number suggest there is real momentum to build on. >> look beyond the vote. no matter who wins, up or down, the democrats may well really annoy voters all over again by very aggressive tactics against anybody who voted yes. they could turn more votes to the republicans. >> and feel like they could fall into that trap. they cannot help themselves. they hate donald trump so much it turns their theory into counter production action. stuart: i find it hard to be objective about this because i'm so disgusted about what happened to judge kavanaugh. >> i don't think animosity is a long-term strategy and they

have to come up with more than that to win elections. stuart: we have a lot to cover, not much time but we will be back after this. how do you win at business? stay at la quinta. where we're changing with stylish make-overs. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com . .

stuart: this is happening now. bernie sanders is going after mcdonald. tell me more. >> write are letters. if amazon and disney can pay $15 an hour, so can mcdonald which made 5.1 billion in profits. my sessage to ceo, deceive easterbrook no one working in america working for profitable corporation like mcdonald's should be living in poverty. we know that pressure work. interesting, president bush, don't know where that came from president trump came out and praised amazon for making the move. strangely bernie sanders and donald trump agreeing on this issue. basically see what mcdonald's does, now that they're in the cross-hairs. stuart: i wonder if mr. bernie sanders realizes if you pay 15 bucks an hour --

>> how many jobs are lost. stuart: how many jobs are lost. we're out of time. what a day it has been. neil, it is all yours. what a day. neil: something is going on there? stuart: here and there. neil: thank you very much my friend. we're following developments and on capitol hill. looking increasingly judge kavanaugh improved his odds measureably, judging from reaction to the report out from the fbi to become a supreme court justice but i want to focus on couple quick things ahead of that. namely a back up in interest rates that is notable here. we're at seven-year highs in interest rates that would be a seven-year low at 10-year treasury prices. look at that yield. it is historically low as you think about it. it is not the 2% we were fetching in the midst of the recession. that is what people remember.