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tv   Varney Company  FOX Business  October 5, 2018 9:00am-12:00pm EDT

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it is about the last touch in the last mile so that is where you with the holiday jobs going. you are seeing retail jobs down, manufacturing jobs up. >> get out the popcorn, it will be a long weekend with the brett kavanaugh hearing. maybe we will have a new supreme court justice. maria: we will see you on sunday morning futures. have a great weekend. "varney and company" begins now. stuart: good morning, everyone. facebook, i thought you were big on free speech, no political bias. apparently not. facebook folks are enraged at joel kaplan who dared show up at the brett kavanaugh hearing to support his longtime friend. sheryl sandberg says his appearance was a mistake. there will be a townhall for facebook employees to discuss the issue. do you think the issue might be free speech? i doubt it.
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but that is politics today. intimidation, character assassination, confrontation on display at 9:30. the senate a symbol, 10:30 a vote to wrap up parliamentary maneuvering and then begins 30 hours of debate leading to the final vote saturday afternoon. senator grassley told fox news at this point he does not know how the senate will vote. we do know how many jobs were created last month was i call it disappointing, 134,000. there's a lot of comment the bad weather depressed the number. the and employment rate, 3.7%, lower since december 1969, wages up to.8% in the past year. i don't think that is very strong, susan will disagree with me. the impact of the report, interest rate, 10 year treasury yield going up 3.2%. as for the market going nowhere, stocks will be down at "the opening bell" following a 200 point lost.
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a muted response to the jobs number so far. in a moment push back from republicans against screaming demonstrators. we will show it to you. "varney and company" is about to begin. ♪ >> just about enough. why don't we dunk in the water. stuart: senator lindsey graham snapping back at a protester when speaking to the media about the brett kavanaugh investigation. orrin hatch confronting protesters inside the senate building. >> don't you wave your hand at me. i wave my hand at you. how dare you treat women like
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that! stuart: the capital police arrested hundreds of protesters in the atrium of the hart senate office building sunday, they will be back today. the wall street journal reports hundreds of facebook employees have expressed outrage about the top executive's decision to support brett cavanagh and appear at his hearing. larry o'connor, washington times associate editor. i thought facebook was about communication and open discussion. >> open discussion of the topics they approve of. this exec it had to apologize to his staff for supporting a man who deserves support as many people suspect and agree with and apparently it is not a diverse workplace over there at facebook. it is troubling for those who recognize the power facebook has 2 mold certain political and social conversations in this country. stuart: i wonder if he keeps his job. how dare he appear to support brett cavanagh.
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>> he had to apologize to the people of facebook and his employees. stuart: pretty wild. this tweet from the gop, thanks to great supporters who want to see brett kavanaugh confirmed. the republican national committee had its largest fundraising day in history last sunday. looks to me like brett kavanaugh's firing up republicans. >> remarkable they handed this issue to the rnc and that fundraising figure, they were mild ahead of the dnc this election cycle anyway. historically the president's party in power always has a rough time in the first midterm. especially when you look at how good things are, unemployment under 4%, close to 50 years, the economy is booming. we got our tax cut, the republicans have the white
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house. this was made to order for republican voters to be complacent, comfortable with where things are. why bother going out and voting in brett kavanaugh came along. i do a radio talk show, i listened to voters every day. i have never seen them this fired up. this is like the day before the 2016 presidential election. republican voters are ready to walk across broken glass to get to the ballot box. stuart: all of them or some of them? >> that is the problem. the midterms is not a national election but a regional election. west virginia, indiana, missouri, north dakota, heidi heitkamp from north dakota who decided to vote against brett kavanaugh, that is the white flag of surrender. looks like missouri with claire mccaskill will be plus one. where it counts in specific places and florida looking good for the republicans, certainly in the senate as of now.
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stuart: thanks, larry. from politics the economy, september jobs report. mike murphy, wait a minute. 134,000 new jobs last month. i call it disappointing. >> i would disagree. it is less then the market was anticipating but unemployment is down 3.7%. if you had a strong number you would be talking about the fed raising rates another quarter of the point and would be worse for the market. this number is great to keep going. stuart: back in the reagan years, you cut taxes and we were getting 400,000 new jobs every month with a smaller population. >> rather than looking at the early 80s if you look back three years ago and i told you we will see 3.7% unemployment in this country soon you would have signed up for that on the spot so it is not the early 80s but we are doing great. stuart: wages up to.8% over the
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past 12 months. i call it disappointing. >> fantastic, up against a high bar. last year, 2017, the highest wage gains since 2007 so if you're comparing that annually, economists were not expecting much of a blip in wage growth, this is an impressive figure. stuart: shall we agree to differ? >> it is on my side. stuart: we will see about that. on your screens the yield of the 10 year treasury 3.20%. i think that is pretty flat from where it has been the past couple days but we do have generally a rising interest rate environment. i want to know at what point rising rates off the stock market rally? >> i won't give you a number but as long as the underlying fundamentals of the economy support rising rates the market can and will keep going higher.
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where the market gets in trouble is the fed raising too quickly and the underlying fundamentals of the market don't support rate hikes. if that were the case you could call the fed getting behind the curve. if they had to catch up to tame inflation the market would not like that. of this continues it will move higher. stuart: let me ask you a political question. i'm looking at the midterms and trying to figure out what is going to happen and my guess is the republicans increase their majority in the senate but democrats when the house. that would be a real split. impact on the market or the economy? >> it could and some would argue you get gridlocked if that happens but i would argue you have enough cutbacks of regulation, pro economy stimulus. stuart: never -- >> you don't want to overstate either so we are in a sweet spot. >> it is a danger zone for the
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president's trade deal because congress has to sign off so there could be gridlock. stuart: what do you have? >> in terms of historical precedent the year after the midterms, since 1946 for the markets, 15% on average. stuart: as they say in journalism school it remains to be seen. you are never supposed to use that one. tesla chief musk mocking the securities and exchange commission, the sec. just -- he didn't say, want to say that the short seller enrichment commission is doing incredible work and the name change is so on point. i think he's playing a dangerous game because the final settlement is not in. a federal judge could still upset this. liz: the sec could yank it instead of reading the riot act to elon musk and the lawyers.
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the deadline is october 11th. they own a 27% position in tesla. the sec used this as evidence against elon musk, he, quote, threatened to burn the short-sellers. did that establish that fraudulent tweet? stuart: back to the possibility of manipulating the price of beat up short-sellers. dagen: tough to get an independent director on board when you are tweeting like that. >> anyone out there, never good idea to do that. stuart: check futures, opening the market in 20 minutes and we are up not much, very muted response to the jobs report, 134,000 jobs in september. interest rates rising a little, 3.20% is what we just reported. a big best to cover it all, donald trump's top economic advisor joins us in this hour. it will be his second appearance on the show this week.
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back to brett kavanaugh. we showed you this video, protesters harassing senator bill cassidy. the senator did not back down, he confronted them. he joins us in our 11:00 hour to give us the full story. big protests outside the s my, hundreds arrested. in my opinion intimidation tactics from the left and we are on it.
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stuart: we are moving up a little bit. we show futures showing a 30 point gain for "the opening bell". look at costco. ho-hum sales, and down 3% $7 lower. brett kavanaugh wrote an opinion piece in the journal today. what is he saying? >> passionate explanation. the parts that caught my eye, the excerpt i want to read you goes like this. brett kavanaugh, i was very emotional more so than i have
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ever been. maybe too emotional at times. i know my tone was sharp and i said if you think i should not have said. i hope everyone can understand that i was there as a son, husband and dad. i would have to say if i was accused of gang great, assault and i might get emotional too. stuart: what do you expect? staying on brett kavanaugh, hundreds of protesters were arrested at the senate building in dc last night and they plan to be back today. donald trump is tweeting about those protests. the very rude elevator screamers are paid professionals only looking to make senators look bad. don't fall for it. look at all the professionally made identical signs paid for by george soros and others. they are not made in the basement, troublemakers. pete hegseth, the weekend host,
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to me these protesters have nothing to do with free speech or democracy, they are intimidating people. >> phil in the blank, when they didn't decide who was going to be, the president hasn't announced it but the signs were made for any candidate, they would resist no matter what. this was never about brett kavanaugh but this is a swing spot. it matters that much more to the left and it has always been about donald trump. it is an extension of the resistance. any republican who doesn't vote for the 7 of the qualified nominee might as well leave the republican party which jeff flake is doing. stuart: there is real danger here. you have these youngsters in a senator's faced gesticulating and shouting and screaming, there's a danger that you are erupting physical violence inside the senate building. this is a real danger. >> an extension of what is happening on the streets and we have seen physical violence against trump supporters in the
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street at different rallies so it has come to the senate floor a consequential vote. how dare you, couple females confront lauren hatch and he said how do you -- don't point your finger at me. we can.your finger at you, you can't stick your finger at me. we are females and you can't yell back at me. it is the logical extent of gender politics and really unfortunate because things like sexual stars are real and need to be dealt with but it gets conflated and we are screaming at each other, no one is listening and we have a 51-49 voted we will have brett kavanaugh, a further flash point. the brett kavanaugh affect is real, the backlash trump supporters and conservatives are feeling is real and you will see that in the midterm elections. stuart: i go back to the 1960s, the political climate in the 1960s, the left was riding in the street and attempting to intimidate america. what did america do?
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elected a republican president in 1968. you might see the same outrage at the tactics of the left this time around. >> overplaying their hand has exposed them like the resistance. it will be a race to the bottom on the left and the president will point do that 3.7% unemployment rate, all that noise doesn't matter because we are putting the country back on track. stuart: have a nice weekend. check futures. we would be up but not much, 20 points higher for the industrials if that. take a look, live, senate floor, about to reconvene. capitol hill, the floor of the senate is in that building, they are going to hold a procedural vote in the next hour. you will see all the action. mike pence calling on google to drop its plans to build a special search engine for china. he's concerned about censorship. aren't we all? full details after this.
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stuart: the price of gold, $1206 per ounce. millions of pounds of american beef recalled?
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>> robbie products, you have to be careful. 16 state of reported getting sick and this goes back to an arizona facility operated by jb as usa and what i find disturbing is what was packaged on july 26th, i would not eat meat that goes back to july i don't care if you keep it in the freezer. goes bad at some point. stuart: 6.5 million pounds recalled, check it out. we have a blockbuster story about china spying on 30 companies including apple and amazon. let me see if i got this right. they are accused of putting little chips on motherboards and motherboards are the heart of servers and servers are used by big american technology companies.
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it is not a hack, it is spying using hardware. >> giving up trade secrets, national security secrets from government contractors. there is the important thing a study found, half of the product components are sourced from china at companies like microsoft, ibm, dell, hp. this is setting off alarm bells. stuart: your supply chain if you are big american tech committee, your supply chain runs through china. has your supply chain been compromised? liz: a big story. stuart: what about mike pence saying drop that search engine you've got for china. liz: really tough at the hudson institute, he said, quote, google should end development of the dragonfly apps, the censored search engine google is working on for the chinese communist party. he says it is not only about censorship but compromising the
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privacy of chinese citizens. an interesting storyline. vice president mike pence is being tough on china. he is saying china is forcing us companies to apologize for not identifying taiwan as a province of china. they did that with delta and marriott. stuart: knock it off. check out the market and how we open, very muted response to the jobs report. we are going to be up a tiny fraction for the dow jones industrial action. inside that building the senate is about to convene. one hour from now there will be a vote on brett cavanagh. back after this. ♪
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the one 45 seconds to go and we open friday morning. the dow was down yesterday 200 points so we are coming off of a big down day.
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futures indicator fractional gain when trading begins in 30 seconds. the direct -- backdrop is the jobs report. i found it disappointing, 134,000 new jobs created last month. larry kudlow coming up in 15 minutes. i found it disappointing, let's see what he has to say. we are about to start trading. big tech selloff. we will see how they are doing. you have four seconds to go, 3, 2, one, i do this every day, 9:30 eastern time. you can set your clock by me and we are up 3 points, 12 points, 10 points. can i say this? that is a very muted response. you are with me on this? thank you very much, show me the s&p 500. where is that, 0.3%. the nasdaq down big yesterday, down a fraction today, go
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nowhere friday morning stock market thus far. interest rates a key to future market action, 3.21%, not that much change from the last couple days but getting up there and rates are rising. friday morning david dietz is here, elizabeth mcdonald is here, susan lee with us. i say it was disappointed, 130,000 new jobs. >> i did not think it was disappointing. when you look at the weakness in leisure and retail we know it was affected by hurricane florence. when people have better paying jobs those were very strong increases. i'm not complaining. >> like putting a man on the moon. stuart: 1969 was last time we had 3.7%. >> you like the 400,000 range.
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revisions for august, they were created, that is pushing up to your numbers from the 1980s. wage gains a big deal compared to very high bars in 2017, a year ago. stuart: 15-love. i will give you that. >> it is an improvement. the american worker doing better than 6 months ago, a year ago. liz: it does feel disappointing, you have to look at the monthly average, 200,000 versus 182,000 last year. stuart: we are up 113 points. mitch mcconnell will start to speak on the floor of the united states senate. i don't think there's a connection between the brett kavanaugh hearing and this is an important day for brett kavanaugh. don't think there's a connection between that and the
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stock market. maybe i am wrong on this but we will see how things work out. interest rates a market mover, 3.21% on the 10 year treasury. you are the economist. how close are we going in a short-term? >> the bond market is catching up with the economy, very strong economy poised to increase interest rates. there will be some head wind because if you look overseas over in europe, germany, the money coming from overseas will keep it on balance 03.21, anyone scared of the stock market because that type of interest rates go back a few years ago and that is where we are. 80s and 90s much higher. stuart: i have two positive economic indicators. first off, record number of small businesses say they are raising pay to attract workers and retain employees and number
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2 the national federation of national retail federation saying we will get 4.8% growth in sales this holiday season. that is extremely strong. >> i feel like i'm saying the same thing over and over, the american consumer has more money in their pocket they will spend the money this year in the holiday season. that is positive across the board and has a snowball effect that builds upon itself. liz: that may be why the market is having a muted reaction, looking at the christmas season, the semi trucks, 18 wheeler big rigs, record high sales in semi trucks, freight is moving around the country at larger numbers. stuart: strong growth you can't deny. >> those are good indicators but to be devils advocate last year we were up 5% year-over-year christmas sales and the extent employers have to pay more to attract workers
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could push inflation up a little bit. liz: retail could pass $1.1 trillion to the holiday season, hiring hundreds of thousands of workers and paying more. stuart: still a muted stock market, 5 minutes into the session. what are you laughing at? that is a muted response to a big selloff. >> muted response, a fraction of a percentage point away from all-time highs. stuart: i want a new all-time high. we are up 24 points on the dow industrials, 26,650 is where we are. lukewarm sales of costco not good enough, down $6, 2.7%. here's a great story, tesla chief elon musk took a jab sticking it to the sec, just
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want to say the short seller enrichment provision, marking the sec is doing incredible work and the name changes so on point. >> a federal judge has to sign off on that settlement october 11th, to go in and say we are pulling the settlement we made permanently to take you out of that. stuart: 271. >> for such a brilliant person to think this wouldn't have a negative impact on the price of the stock of which he is a huge shareholder is a terrible decision. >> i see no upside. he faces various civil suits and this cannot help the way he is viewed in some tweets. it is a distraction. he is in the most important business in the world, the production of electric vehicles for the world. how can he waste time on this? >> is taking a shot at black hawk and other stock loans because he is saying -- stuart: blackstone or
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blackrock? >> shares to actually have the underlying asset. >> outlaw shortselling in another tweet. >> a way to punish short-sellers is put up great numbers and short-sellers are forced to cover, to buy back the shares. stuart: the opposite is happening, stock price is down. look at big tech. this selloff across the board, look at them now, facebook, 159, amazon at 1914, apple 228, microsoft 112, alphabet up a fraction. look at those prices. would you buy any of them? >> facebook is in firing range, in the 151 range. amazon is getting there. we talked about it for a long time, getting a pool back on large growth names it. stuart: there is internal turmoil at facebook because one of their executives had the nerve to appear with brett
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kavanaugh, outrage across the board at facebook. >> if that gives you an opportunity to buy the stock lower, the large tech companies driven by left-leaning employees and it has been that way for over. stuart: money has no morality. you charge down the road for maximum product. how about this one? apple employees, donations to democrats, 90% of all money apple employees donate to political causes goes to the left, goes to democrats. why my not surprise? >> no surprise. the problem is some of them, facebook is a media company, not just a platform. to the extent they need to avoid regulation because they are not being biased it is
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harder to make the argument there may not be biased in the way they control desk posts. >> this is the seventh anniversary of steve jobs, >> it is down in the moment. >> where are we this morning, $74 a barrel. the price of gas, $2.91 a gallon. it doesn't seem like gas prices and oil prices pose much threat to the economy. >> they could if they spike up too much but people are feeling better, have more money, the us consumer has more money in their pocket so there's not enough to for slowdowns. >> a generation ago we were only oil consumers, today we are big producer in the heartland of the country so higher oil prices are not necessarily negative. a lot of those increases are due to higher taxes.
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stuart: it is that time, 9:40 almost on a friday morning meaning thank you very much. they are staying. extended timeframe. check the big board, up 22 points. up next, larry kudlow, top economic guy at the white house. what does he make of what i call a lackluster, disappointing jobs report? i know he will take me on. we are monitoring develop in the senate, procedural votes on brett kavanaugh sets the stage for a confirmation vote tomorrow. speaker grassley speaking on the floor of the senate. >> she called it disgusting. making my dreams a reality
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stuart: muted response to the jobs report, 26,00648. the wall street journal says carmakers are considering shifting more production to north america. david dietz, that is all about the trade deals. >> we wanted more jobs in this country. point of the tariffs is working. stuart: it is a good thing. they are shifting production to north america including canada. >> think about transportation costs we saved by not making it in asia, makes a lot more sense all things being equal. stuart: you market guys happy was trade deals? >> we want what is fair, we don't want to take advantage of anyone but we were taken advantage of, fair trade is good for the united states.
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liz: the dupont case goes into their offices and demanding passwords. it is outrageous what china was doing, the white house has it right on that, intellectual property is taking passwords, it is about patent fights in the form of patent regulators on us companies. the fight is nasty with what is going on in china and china is to blame. stuart: mike pence took a strong line against china, he spells it out, not just meddling in our elections but spying and that kind of thing. >> back to the trade deal had autos and how they are benefiting, mca as they call it, a pivotal point in that. more autos made in north america, you shift production back here and most will be done with higher wage labor as well.
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>> it was called afraid war with china the president started in the media but really he was finally standing up to a country that had for so long been taking advantage not only of the united states but all their trading partners. stuart: universal agreement the china was taking advantage of almost all its trading partners and american in particular. there is agreement on this was the democrats are not turning around saying china -- everybody is in agreement china is not doing the right thing on trade. >> china treats trade, trading surreptitiously chips on us servers and chipping them in. this shows the nature of time. >> bloomberg businessweek reported amazon, apple refuted that. there is no investigation underway. i think we need to be careful in reporting the story. stuart: american tech companies pushed back and said no.
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the chinese -- they know of -- important qualification. they are denied the veracity of the story. >> it is an incredible story. stuart: it is not a software hack. >> hardware hacks are harder and more devastating as well, to given access point into the system. stuart: you got that little chip in the motherboard in the server and you are a defense contractor he using the server somehow or other, they are reading what you are doing. >> a lot of investors in china believe those stocks were hit hard and us tech companies have a vested interest to push back because it says something how well they have done do diligence. stuart: i saw lenovo. >> also company problems as well, financial they missed but supply chains are long and complex. they get a chip unnoticed on
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motherboards hidden between fiberglass. that is a hard thing to do. think of the jurisdiction you have to go through. one hacking expert said it is like watching a unicorn jump over a rainbow. he had to go through the geography. >> the fact that it might be true speaks to the point that at some point somebody has to stop this. let's have fair trade everywhere, not one or two countries taking advantage. liz: designing companies come to the us together supply chains built here because they know we won't put microchips in computers. you talk about the carmakers bringing their supply chains and manufacturing here in the states, the danger is dialer, bmw, mazda, major companies talking about allocating more us production for the market here. stuart: big jobs report an hour and 20 minutes ago, 134,000 jobs added in the month of september.
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larry kudlow, director of the national economic council, welcome back, good to see you. >> thanks very much. stuart: i go back to the early 1980s when reagan cut taxes and we were getting 400,000 new jobs each month. now we have 134,000 last month. i call that disappointing. what happened? >> i want you to be more optimistic on the position here. you are at 134, but prior to that, 87,000, these numbers bounce around, have to to get the division and it is bullish for the future. i will argue the numbers 221,000 might be better than that. stuart: why are we not back to the 300, 400,000 per month gains of 30 years ago? >> i was a cub scout during
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reagan's term, we were coming out of a deep deep deep recession so the cycle position is a little different. if you are going to run 225,000 jobs per month which is pretty close to what we are talking about, we will get 2.6 million jobs a year. that is very good. and because of low tax rate and deregulation, i think it is a strong jobs picture. and we are at 3.7 unemployment rate, that is an awful good number and across the board the so-called minority unemployment rates are coming down, going back to the 80s in terms of blue collar workers, that was my favorite story in the history of the washington post. front page two weeks ago, my favorite newspaper, that is very important. stuart: sarcasm is a low form of which. donald trump on several occasions looked to the federal
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reserve and said not off, we don't like these wage increases. is the president trying to influence the fed? >> i don't believe so. donald from very smart guy, business experience, has a lot of opinions, he's not reluctant to give those opinions out. we know and we agree that is independence, they will make their own decisions and do what they need to do. i'm pleased chairman powell has been saying publicly better economic growth, they said it couldn't be done, better economic growth does not necessarily cause inflation, steady dollars, no inflation, 2%, less then 2% last 3 months. the real action, the real action on rates is not the short end but the bond market, the 10 year yield.
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stuart: it is 322 in the last couple days. >> if you carefully break it up you have nominal yields, 325, most of the increase is real rates, inflation adjusted. that is 80%. that has gotten to 1%. that is telling us market expectations back to growth and higher capital returns and more labor, that is a very positive thing as long-term rates normalize. keeping an eye on the rates, that is a good forecast for the economy. stuart: you know we have a buzzer on this program and when anyone gets technical we buzz them. [buzzer] stuart: we would never buzz larry kudlow. talk about inflation and wages, up 2.8% over the past year. inflation is running at 2% that
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is not much of a wage gain in real terms, is it? i find that disappointing. >> i want you to be more optimistic. let me say a couple things. last 3 months the feds favorite measure, consumer price deflator, is 1.5%. year on year you are correct about 2% but but but don't ring that bell on me, i want to get this out. 12 month change in average hourly earnings, 2.8%, you got to add in average hours worked. they start rising beautifully at 2.6% but put them together, that is a proxy for labor wage blue-collar income, 5.4%, less then two gives you 5.4% real wages. after-tax it will be stronger, a tremendous inducement to work and indicates strength in the
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economy. i beat the buzzer. stuart: you did. we would marry buzz larry kudlow, simple as that. i want to talk about this bloomberg story alleging china has placed little chips on motherboards which are the hardest servers used by big american technology companies. there is a hardware spying operation going on here. that might interrupt many trade talks with china because this is a major flash point. >> of true i agree with you and we are on guard. nothing china does, stealing technology and infiltrating and cyber hacking nothing surprises me. they played dirty for a long time. having said that i read the bloomberg story, a fine newsgathering organization but a lot of companies deny it. i don't know who is right or
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wrong. maybe we will learn over the course of the day. the bigger picture, china does not play by the rules, they haven't for 20 years. we complained about it theft, forced transfer of technology, plus high tariffs and industrial industrial material. i don't know if it is true but everyone should be on guard and the chinese have to play by the rules. the us, we got the us mca, got a try part deal with the eu and japan which is aimed at getting china to play by the rules. it is negotiated strategy will include tariffs. their response is unsatisfactory and we need to keep an eye on these stories. stuart: i promise to be more
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positive. >> i want you to take me over but take me over on the whole story. stuart: if i under -- i understand was gambling i would agree with you but i don't. thanks for joining us. mike murphy, mister kudlow was saying what you were saying. >> he sounded great, but spot on with what is going on in the economy but what the underlying the numbers are telling you. larry didn't focus on that. they are raising -- that is a huge positive we look at. stuart: he stamped on me. >> one of his best points is we are up 3.7% unemployment, we don't have blockbuster monthly jobs.
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whether small business needs and what is available now in terms of the unemployed and we need to close the gap so people are employable in what is needed. stuart: last word to susan. did he put me in my place? >> he does it very well. look at the underlying wages. stuart: 40-love. thank you very much, david and mike murphy, thank you very much, big protests in dc, republicans confronted over brett kavanaugh. i don't think this is free speech, this is intimidation. my editorial next. how do you win at business? stay at laquinta. where we're changing with contemporary make-overs.
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standardized plans. each one is designed to work seamlessly with medicare and help save you money. so how do you find the plan that's right for you, one that fits your needs and your budget? call humana now at the number on your screen for this free guide. it's just one of the ways that humana is making healthcare simpler. and when you call, a knowledgeable licensed agent-producer can answer any questions you have and help you choose the plan that's right for you. the call is free and there's no obligation. you know medicare won't cover all your medical costs, so call now and see why a medicare supplement plan from a company like humana, just might be the answer. stuart: happening this hour the senate will hold a procedural vote on the kavanaugh nomination. we can expect to see a lot of this during this process. roll it. >> as a survivor i don't understand how you can't look me in the eye -- why are you going
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to -- can you tell me how you're going to vote. >> no i can't. >> how, how are you not listening to us? >> i am listening. >> how are you going to vote, tell me. tell me. >> step back. stuart: those protesters were going on after a joe manchin a democrat. you saw that. the very rude elevator screamers are paid professionals. only looking to make senators look bad. don't fall for it. look at all the professionally made identical signs, paid for by soros and others. these are not signs made in the basement from love. #troublemakers. mr. president i take it a step further. these protesters inside the halls of congress confront republican senators in their face, they are close, they are loud. we're told this is democracy at work. no it is not. it is intimidation.
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when the kavanaugh hearings first started there were constant interare up shuns. again we were told it is democracy, free speech. it is not. it is suppression of speech. the suppression of debate. at facebook a senior tech sieve attended the kavanaugh hearing, joel kaplan. he has been friends with the judge for years. just being there was quote, a mistake says sheryl sandberg. and hundreds of facebook employees expressed their outrage that any facebook guy could openly support him. so much for free speech. i wonder if that guy keeps his job, i really wonder. here is what is going on. the left is saying you support kavanaugh we're coming after you. that is political intimidation and it's wrong. similar to this doxxing attack, the deliberate release of senators personal information like phone numbers and home addresses a young aid to democrats allegedly did this, it is quite clear why. hey, we know where you
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republicans live. that is intimidation and it is wrong. and it is goings to get worse. no matter which way the kavanaugh vote goes the left will go after any senator who voted yes. he ain't seen nothing yet. the solution to all this, is, arrest and punish those who break the law. two, to to the ball hot box to -- ballot box to express your disgust. that is how constitutional republics work. impose the law, if you want to make political change, vote. i remember the 1960s and street violence and intimidation 50 years ago. it didn't end well for the left. in 191968 american elected a republican president. the second hour of "varney & company" is about to begin. ♪ stuart: i do believe i'm correct in saying this, is a tepid and
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a, what was the other word i used -- susan: muted. stuart: muted response in the stock market to today's jobs report. look at the big board. we're absolutely dead flat. how about the 10-year treasury. this is a key interest rate. we're at 3.21%. big techs, big selloff among the group of stocks. some of them continues today. facebook is only winner, but just by 70 cents. apple, alphabet, microsoft, all on the downside. tesla look at that this morning. elon musk, he took a shot and mocked the sec, in part there is down market over all, tesla is down 13 bucks, 268. the senate about a half hour away from the procedural vote on kavanaugh. just ahead of today's vote, kavanaugh writes an op-ed in "the wall street journal" today.
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edward lawrence down in d.c. what did he say? reporter: this op-ed could be seen as brett kavanaugh's closing arguments before his confirmmation. just before the 10:30 procedural vote. there are still undecided senators. in the op-ed brett kavanaugh said i was very emotional last thursday, more so than i have ever been, i might have been two emotional at times. i know my tone was sharp, i said a few things i should not have said. i hope everyone i can understand i was there as a son, husband and a dad. that can be acknowledgement to previous interviews from senator susan collins, she said she didn't like the tone of that hearing, she is a swing vote. in the op-ed kavanaugh made it clear he will will be a level-hd judge. i revere the constitution, i believe an independent, impartial judiciary is essential to our constitutional republic. the op-ed was posted in today's paper before the final vote for the filibuster t stu, this is
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coming at 10:30, a preview of the final vote saturday. stuart: edward call me what you like. stuart is just fine. thank you very much ed lawrence. i go to the floor where schumer is now speaking. >> hard right national groups compared to repealing very roe v. wade, cutting people's health care and achieving a partisan majority on the supreme court. the rot worsened when the republican majority on the judiciary committee shielded the bulk of judge kavanaugh's records from the public, discarding decades of bipartisan precedent and thwarting norms of transparency and of fairness. and finally the dam broke, under the weight of credible allegations that judge kavanaugh committed a sexual assault in
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high school n 2018 the republican majority conducted a hearing that made the anita hill hearings in 1991 look fair by comparison. in this hearing there were no corroborating witnesses on either side. no independent investigation of the facts to inform the questioning. they even hired an outside counsel to put a witness, dr. ford, on trial. only at the 11th hour urging of breakaway members of their caucus republicans submitted reluctantly to a one week investigation of the allegations, an investigation which was then severely sure couple described by the white house -- circumscribed by the white house. our republican friends blame us for the process. they're always finding a straw man but nothing could be further
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from the truth first they blame us for delay knowing full well that majority leader mcconnell has complete control of when nominees are brought to the floor. leader mcconnell could have moved this nominee two weeks ago, or one week ago. democrats had, no say and don't when it comes to who comes to the floor. but in each case leader mcconnell couldn't move the nominee forward because he was blocked by fellow republicans, not democrats, from moving forward. when it comes to complaining about delay two words never come from our republican friends lips, mayor -- merrick garland. republicans are saying we engaged in quote aer. >> campaign where the politics of personal destruction with this nomination. in reality again they're using democrats as a straw man because
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what they're really talking about is what dr. ford said. democrats did not induce her to come forward. her conscience did. and our republican friends, are our republican friends accusing dr. ford and her deeply-held memories what happened to her of a smear campaign? are they accusing dr. ford of a smear campaign? of engaging in the politics of personal destruction? stuart: senator schumer, democrat, new york, one of the speakers in today's discussion of the kavanaugh nomination. he will be followed by mitch mcconnell, will present mitch mcconnell. you will hear a little bit of what mitch mcconnell has to say before the 10:30 vote this morning. tammy bruce is with me, tammy i want your comments on these protesters, in your face protesters. at the top.
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hour i put out an editorial saying that is not free speech, it is not democracy, it is intimidation, and it is dangerous. >> you're absolutely right. a lot of people are trying to conflate the two or conflateing free speech with this harrassment that is the not case. people are invading buildings, offices, attempting to assault people. the confrontation of people in a hallway as they're getting into a elevator, that is not meant to get answer, right? it is meant to threaten people. stuart: it is, if you don't vote the way we want you to vote -- >> we're right here. we're in your face. we know where you are, that is the intention. and of course there has been number of people eared on the capitol grounds. when it comes to that attitude, intention of that, that too should be dealt with legally. stuart: i just want, tammy, liz, hold on a second, just watch this exchange. listen to it too between senator orrin hatch and screaming
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demonstrators in an elevator. just watch this. >> don't you wave your hand at me. i wave my hand at you. >> when you grow up i will grabbed -- >> when i grow up? >> how dare you talk to women that way! how dare you! stuart: all right, tammy, how dare you talk to women this way. >> embarrassing, as they're screaming at him. we argue for equity that we can stand for ourselves, we have agency, the moment something happens that they don't like, suddenly it is the can't talk to a woman in that fashion. that is embarrassing. of course it is inappropriate. they're choosing to be hostile and aggressive, to intimidate. the fact all he need to do is wave his hand and triggers them, tells you the absurdity of this situation. liz: i've been talking to democrat women here in new york and on long island, they're saying they do not want standards lowered people can get accused without corroborating proof.
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they feel that is really bad for american society. these me too mobs going out there, not debating, setting aside there is no proof, deborah ramirez and christine blasey ford is troubling. here is the thing, we know sexual assault is problem. all women don't like it. all women can't stand it, you how do you get there to get it stopped? maxine waters tweeted out we know where mark judge is. that is a threat. stuart: direct threat. >> if you want to talk to jeff flake and everybody else you can go lobby in their office. there is procedure to meet individuals and their staff this is meant only to do one thing. it is meant not to get answers. to frighten people. americans across the board. this is non-partisan. americans in general do not like what this is. stuart: agreed. we are waiting for the senate to vote shortly. the vote is coming up on kavanaugh nomination in about 20 minutes. there will be a vote. and that's before you get to the
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main debate which will last for 30 hours. we have an all-star line up in response here. mercedes schlapp joins us from the white house, bill cassidy, senator bill cassidy joins us from capitol hill. matt schlapp with us. big day for democracy and your money. we're right in the middle of it. we've turned south. we're down 41, 42 points. we're back in a moment. ♪
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stuart: now we're down 48 points. there is roughly half of the dow 30 up and roughly half down. not that big of a selloff at the moment down .18%. >> >> we're waiting for the vote on the floor of the united states senate. we expect that vote around 10:30ish. when the vote comes, when ever
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the vote is, that will start 30 hours of debate. just watch the whole thing unfold right here. market watcher david bahnsen is with us. i want to ask you about politics. regardless which way the kavanaugh know goes regardless of that, what impact will it have on the market monday morning? any impact at all? >> i doubt it will have a big impact on the market i am mild. i think it could have a big impact the next calm months. here is what i mean. this entire episode completely reignited the republican voter base. to the extent things are somewhat peripherally important to markets on the line in the midterms, the possibility of tax reform 2.0 for example. things that would have no chance if the house were to go for the democrats, kavanaugh episode, as far as his placement on the court where he most certainly belongs, is not a market specific event, political
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ecosystem, i think right now is in an entirely different place than it was two weeks ago. i think that is going to end up being good for markets. stuart: i think you're right too. okay. i want to show you what larry kudlow said to me moments ago when i told him my opinion that the jobs report was disappointing. listen to this. >> you're at 134, but the prior two months revised up 87,000. so these numbers bounce around. that is a big upward revision. by the way it is very bullish for the future. really i will argue the number is 221,000. might even be better than that adjusted for hurricanes. but that's a big number. stuart: david, he told me i better start being more positive. what do you make of larry kudlow there? >> i watched it live obviously, stuart, i was grateful that he corrected you so i didn't have to. i think being in that position, our pal larry certainly is spot on there, just from a data
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standpoint. you take a slightly under expectation number this month, add on revisions, look at labor participation force, look at wage growth, and also you have to smooth these things, three months at a time. that is what we want to look to as rolling average all-in you really have to stretch to find negativity out of the state of labor and jobs in this country now. stuart: i stand corrected. ladies and gentlemen, please pay attention to the banner on the bottom of your screen, fox confirms that senator collins will vote to advance the kavanaugh vote. that is not a yes, not a yes, but a vote to move it forward, a vote on cloture. liz: to close out the vote. stuart: a yes vote on cloture. that is a development. she will announce at 3:00 p.m. on the senate floor her final vote. we'll know at there are this afternoon.
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liz: the way she goes, her vote will give other republicans and red state democrats cover. stuart: david, tell me more about your defensive plays. you like, your money, your investment money, that is going straight into dividend plays, isn't it? >> yes. i always have to correct because i understand what people mean when they say dividend stocks. but i actually just pot done writing a whole book dividend stocks is not dividend stocks but growth of dividend stocks. stuart: i'm sorry i have to interrupt you. i have to go to mitch mcconnell on the senate floor,. >> today the senate has the opportunity to advance his nomination. everyone of us will go on record with one of the most controversial votes you ever cast in the senate. the stakes are always high for a supreme court nomination but colleagues, the extraordinary
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events of recent weeks have raised them even higher this time. when which vote later this morning we will not only be deciding whether to elevate a stunningly well-qualified judge to our highest court, not anymore, not after all this, the united states senate will also be making a statement. we knew the state that partisan politics can override the presumption of innocence? or we will reaffirm in the united states of america everyone is innocent until proven guilty. we'll either state that facts and evidence can simply be brushed aside when politically inconvenient, and signal that media bullying and mob intimidation are valid tactics for shaping the senate.
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the mob can attack and the senate caves. or we'll stand up and say serious, thoughtful, fact-based deliberations will still define this body. weil we will give notice totally uncorroborated allegations are now officially, officially enough to destroy an american's life, or we'll declare our society, cannot, must not, will not set the bar so low. so, madam president, today is a pivotal day in the nomination process of this excellent judge. but it's a pivotal day for us here in the senate as well. the ideals of justice that have served our nation so well for so long are on full display. so let's step back and sample a
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few of the choice moments that the senate and the american people have been treated to during the disgraceful, absolutely disgraceful spectacle over the last two weeks. the very night judge kavanaugh was announced as the president's choice we heard the junior senator from oregon declare that this nominee would pave the way to tyranny. his audience? crowds of far-left protesters, still filling in the blanks on their picket signs. they weren't quite sure who the nominee was going to be yet. we've heard the junior senator from new jersey describe judge kavanaugh's nomination as a great moral struggle in which there are just two camps. you're either complicit in the evil or you're fighting against it. more recently we've heard the junior senator from hawaii argue that her personal disagreement
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with judge kavanaugh's judicial philosophy meant, now listen to this, he deserved less after presumption of innocence when it came to allegations of misconduct. you disagree with her, you're not entitled to the presumption of innocence when it comes to allegations of misconduct. that's from a member of the judiciary committee? that is the definition of due process? apparently you get due process only if you agree with her. and even more recently we saw the junior senator from rhode island hold forth with great confidence, great confidence, offering his expert interpretations of goofy jokes in high school yearbooks from the early 1980s. that was incredibly enlightening. innocent jokes? beer drinking references. oh, no, our colleague was quite
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positive there must be some other hidden or sinister meanings at play. until of course a number of judge kavanaugh's classmates set him straight earlier this week. so stop and consider these snapshots. the absurdity, the absurdity, the indignity, this is our approach to confirming a supreme court court justice? this is the senate's contribution to public discourse before the ink had dried on justice kennedy's retirement our colleagues would be what this process would be about, delay, obstruct, and resist. before the ink dried on judge kavanaugh's nomination, colleagues across the aisle
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including democratic members of the judiciary committee were racing to announce they were made up their minds and totally opposed to his confirmation. mere hours after judge kavanaugh was nominated, my friend the democratic leader i will oppose him with everything i've got he said, hours after he was nominated. abundantly clear his number one political goal to defeat the nomination by any means necessary. it was right there from the beginning, madam president, a clear deck ha race, plain as day, nothing, nothing, could get most democrats to consider this nominee with an open mind. it would be delaying tactics, obstruction, and so-called resistance until the final vote was called. for a few weeks their efforts played out along lines that
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sadly have become somewhat ordinary around here. there were excuses for delay. those fell flat. there were gross distortions of judge kavanaugh's record that were batted down by outside fact-checkers. and there were all the usual phony apocalyptic pronouncements are shouted whenever a republican president dares to nominate a supreme court justice. happens every time. hostile to women, hostile to vulnerable people, hostile to workers. same old tricks, same old playbook. but here was the problem, the old plays weren't working. the distortions were being literally drowned out by the facts. senators received and reviewed more pages of background materials on judge kavanaugh's nomination for every previous supreme court nomination
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combined. we read judge kavanaugh's 12 year record of judicial rulings from our nation's second highest court, 300 plus opinions. we heard sworn testimony, written accounts from hundreds of character witnesses from all stages of judge kavanaugh's life and career. and picture painted by these facts was nothing like the caricature. nothing like the caricature. it was clear madam president, the old tactics were not working, wouldn't get the job done. the resistance demanded more. try something new they said. well we all know what happened next. uncorroborated allegations of the most sensitive, most serious sort were quickly sharpened into political weapons. once such allegation shared by dr. ford in confidence with the democratic side of the judiciary committee, somehow mysteriously
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found its way into the press. well, chairman grassley immediately set out on a sober, focused search for the truth. the committee collected testimony, organized a new hearing and most recently asked for the supplemental fbi background investigation, judge kavanaugh seventh, seventh fbi investigation. by any fair standard the facts, the actual facts proved to be straightforward. no corroborating evidence. none. none. was produced to support any of the allegations leveled against judge kavanaugh. no corroborating evidence from the fbi inquiry or from anywhere else, nothing. well that wasn't enough for our democratic colleagues of course. the facts were not exactly the
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point. after all we sort of get it by now, when the very fbi investigation they had been clamoring turned up no new evidence, the democrats moved the goalpost yet again. i believe the latest story is that the whole investigation is invalid, now listen to this, because individuals who had only recently been told second-hand or third-hand about nearly 40-year-old allegations weren't treated as session witnesses. let me say that again. the latest story the whole investigation is invalid because individuals who had only recently been told secondhand or third hand about nearly 40-year-old allegations weren't treated as essential witnesses. never mind they didn't actually witness anything. they didn't witness anything. so let's be clear, madam president. these are not witnesses, these
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are people supposedly in possession of hearsay that they first heard 35 years after the supposed facts. what nonsense! the people whom dr. ford claimed were witnesses, they have spoken with the fbi. we know that because they, through their attorneys, put out public statements saying so. and what we know hownow is what we knew at this time a week ago. there is absolutely no corroborating evidence for these allegations. same thing we heard a week ago. if they were, you would bet we would have heard about it but there isn't. so notwithstanding that, madam president, the leak of dr. ford's letter in violation of her privacy and against her
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wishes opened the floodgates. the feeding frenzy was full on. the weaponnization of her letter by the left led to a torrent of other equally uncorroborated allegations. they were dumped on judge kavanaugh and his family. and breathlessly, breathlessly the media seized on them. the more outlandish the better. americans were informed that judge kavanaugh master mined violent drug gangs as a young teenager, until that accuser walked her story back. we were informed that judge kavanaugh beat someone up on a boat in a rhode island harbor, until that accuser totally recanted. we heard another tall tale of physical assault until that account was thoroughly debunked by a sitting federal judge. oh, and yes, we were informed that juvenile jokes in his high school yearbook were actually
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sinister secret references. oh the keystone cops were on the case. keystone cops were on the case, madam president. and senate democrats cheered them on. they read parts of this uncorroborated, unbelievable mudslide, mudslide into the senate record. they cited them in an official letter demanding that judge kavanaugh's nomination be withdrawn. were they true? well of course, that was quite beside the point, quite beside the point. so long as they were convenient. every effort was made to insure that the fact-free verdict of the mob and the media would win out over the actual evidence. make sure the mob prevails.
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but the uncorroborated mud and the partisan noise and the physical intimidation of members here in the senate will not have the final say around here. the senate will have the final say. so, madam president, we're almost at the end of the runway. the cross rings of anger, fear, partisanship have blown strong these past weeks. they have harm ad good man and his family. they than dished the dignity i of this institution, but all of it can end today. the time has come to vote. the senate stands on the thresh hold of a golden opportunity. we have the opportunity to advance the nomination of a incredibly well-qualified and well-respected jury it that demands such excellence. we have the opportunity to put
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judge brett kavanaugh on the supreme court where his distinguished service will make us and our nation proud for years to come. but we have the opportunity to do even more. today we can send a message to the american people, that some core principles remain unfettered by the partisan passions of this moment. facts matter. fairness matters. the presumption of innocence is sacrosanct. the senate has turned its back on these things before, madam president, but never for long, and never without deep regret. this institution does not look back proudly on the era of joseph mccarthy or any other times when the politics of personal destruction poisoned its judgement. no, no, the senate looks back on those things with shame.
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and with a conviction we cannot go down that road again. we know the senate is better than this. we know the nation deserves better than this. by confirming judge brett kavanaugh to the supreme court, this brilliant jurist will be charged with upholding the rule of law and honoring american justice. we must hold ourselves to that very same standard. we must seize the golden opportunity before us today. to confirm a supreme court justice who will make us proud. and, to reaffirm our own commitment to the justice that every single american deserves. >> as a reminder to our guests in the galley, expressions of approval or disapproval are not permitted in the senate gallery. stuart: this is moving toward a vote, called a vote on cloture. to end the first part of the conversation of the confirmmation of judge kavanaugh.
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the vote is about to be taken. we'll watch it being taken. when it is over, i assume it will be yes, move this thing forward, senator collins said, she will vote yes to move this thing forward. then, if i'm right on the timing here, that will begin 30 hours of debate which will take us up to late tomorrow afternoon when there will be final vote of the full senate. do by any chance we have on the phone chad pergram for us? i want to confirm the timing and can we listen to that. >> mr. booker. mr. bozeman. >> mr. burr.
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miss cantwell. miss capito. mr. cardin. mr. carper. mr. casey. mr. cassidy. miss collins. mr. coons. mr. corker. >> aye. >> mr. cornyn? miss cortez masto. mr. cotton? mr. kapo? aye. >> mr. cruz? >> aye. >> mr. daines. >> aye. >> mr. donnelly? miss duckworth? mr. durbin. >> no. >> mr. enzi? >> aye. >> mrs. ernst. >> aye. >> mrs. feinstein?
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>> no. >> mrs. fischer? >> aye. >> mr. flake? >> eye. >> mr. gardner? >> aye. >> mrs. gillibrand? >> no. >> mr. graham. >> aye. >> mr. grassley? >> aye. >> ms. harris? >> no. >> ms. hassen? mr. hatch? >> aye. >> mr. heinrich? >> no. >> ms. heitkamp? mr. heller? aye. >> miss hirono? [inaudible] >> mr. hoeven? >> aye. >> mrs. high smith. >> aye. >> mr. inhofe? >> aye. >> mr. isaacson? >> aye. >> mr. johnson? [inaudible]
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>> mr. jones? [inaudible] >> mr. cane? mr. kennedy? >> aye. >> mr. king? >> [inaudible] awed. >> miss klobuchar? >> no. >> mr. kyl? >> aye. >> mr. lankford? >> aye. >> mr. leahy? >> mr. lee? >> mr. manchin? >> mr. markky? >> no. >> mrs. mccaskill? >> mr. mcconnell? >> mr. menendez? >> mr. merkley? >> no. >> mr. moran? >> miss murkowski?
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>> mr. murphy? >> mrs. murray? >> mr. nelson? >> mr. paul? >> aye. >> mr. purdue? >> aye. >> mr. peters? >> no. >> mr. portman? >> aye. >> mr. reed? >> mr. risch? >> aye. >> mr. roberts? >> aye. >> mr. rounds? >> aye. >> mr. rubio? >> aye. >> mr. sanders?
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>> mr. salve. >> aye. >> mr. schatz. >> no. >> mr. schumer? >> mr. scott? >> aye. >> mrs. shaheen? >> mr. shelby? >> ms. smith? >> ms. stabenow? >> no. >> mr. sullivan? >> aye. >> mr. tester? >> mr. thune? >> aye. >> mr. tillis? >> aye. >> mr. toomey? >> aye. >> mr. udall? >> no. >> mr. van hollen? >> mr. warner?
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>> ms. warren? >> no. >> mr. white house? >> mr. wicker? >> aye. >> mr. wyden? >> no. >> mr. young? >> aye. stuart: they're tallying the votes as we speak. i was listening carefully. i'm sure you were too. sounded like a direct party-line vote. soon as we get the result, you will get it. we have to be rather quiet to make sure we don't miss it. we should tell you that lisa murkowski. >> senators voting in the
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affirmative. alexander, barrasso, blunt, bozeman, burr, capito, cassidy, collins, corker, cornyn, cotton, crapo, cruz, daines, enzi, ernst, fisher flake, gardner, graham, grassley, hatch, heller hoeven, high smith. inhofe, isaacson, kennedy, kyle, langford, mcconnell, moran, paul, purdue, portman, risch, roberts, rounds, rubio, save, scott, shelby, sullivan, thune, tillis, tumi, wicker and young.
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>> mr. manchin, aye. >> senator es voting in the negative, baldwin, bennett, booker, brown, cantwell, cardin, casey, coons, cortez-masto, duckworth, durbin, feinstein, gillibrand, harris, heinrich, kane, klobuchar, leahy, markky, merkley, murkowski, murphy, murray, nelson, peters, schatz, smith, stabenow, tester, udall, warner, warren, white house, and wyden. mr. sanders, no.
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mr. lee. >> aye. >> aye. miss hassen? no. stuart: i just want to comment here around tell everyone what's going on. joe manchin, a democrat, yes. jeff flake, republican, yes. susan collins, republican, yes. lisa murkowski, republican, no. they're tallying it up as we speak. i have not been able to keep count. it will be very close. hold on. >> mr. jones. no.
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stuart: interesting joe manchin, democrat, came in late his yes vote at the very end. keep listening in. >> mr. schumer, no. mr. donnelly, no. miss heitkamp? no. mrs. mccaskill? no. mr. menendez, no.
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stuart: just want to make the point here that senator heidi heitkamp, senator joe donnelly both voted no. both are democrats in trump-voting states. they both voted no. they're tallying up the results now. it is obviously going to be close. the most interesting vote that has been cast thus far is joe manchin who came in late to the vote, waited until the end in fact and then said yes. joe manchin is a democrat from west virginia which is heavy-duty trump country.
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>> mr. reed. no. mr. king? no. mr. van hollen? no. miss hirono? no.
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mr. blumenthal? no. [inaudible conversations].
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>> mrs. shaheen? no. stuart: let me break in for one moment here. we've been doing our tally. it looks to us like there are 51 yes votes. all republicans voted yes except lisa murkowski, republican alaska, plus one democrat voted yes, joe manchin of west virginia. 51 yes votes. if you're a little confused what
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is going on here, a senator can change his or her mine right up until the moment the vote is final. you see some of the senators apparently voting again, but in fact confirming their yes or no vote. that is what is going on now. momentarily we expect the official result but our unofficial tally is 51 yes votes. the cloture motion is carried. and if we're right on this, if there are indeed 51 yes votes the senate will go on to the full debate and a full vote tomorrow afternoon. i'm going to listen in. >> i vote no. >> mr. carper, no .
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>> are there any senators in the chamber who wish to change their vote? as a reminder to our guests in the galleries, expressions of approval or disapproval are not permitted in the senate galleries. on this vote the yeas are 51, the nos are 49, the motion is agreed to. stuart: you heard it, right there. 51 yes votes to end this part of the debate. yea, 51 yea, nay 49. the motion is carried. do we have chad pergram on? we do. >> i'm here. stuart: we want to know what the format is here on out. we got the yes vote. we got it. we understand.
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now what? >> now the senate is on a clock. this is a post-cloture clock. 30 hours from now the minority uses all of it is time, all the opponents on the nomination don't have to use 30 hours. but that would tee up a confirmation vote on brett kavanaugh if all the time is burned, stuart, sometime just before 5:00 p.m. on friday. on saturday i should say. now there is another fly in the ointment. republican senator steve daines of montana, he is supposed to walk his daughter down the aisle at her wedding in montana tomorrow. but he apparently made arrangements to be here whenever that roll call vote takes place. now once you start a vote you can keep the vote open however you long you want. the record is five hours 15 minutes. on the stimulus package in february of 2009, democratic ohio senator sherrod brown. his mother passed away. he attended her wake in cleveland. they held the vote open 5 hours
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and 15 minutes. question is do the democrats want to build all that time. i point out something else. last year on the confirmation vote of neil gorsuch, a few days before this, mitch mcconnell leader altered senate precedent. used to take 60, six, zero, votes to end debate on supreme court nomination. he did not change the rules but established a new precedent, but lower it to a simple majority. he couldn't pet get gorsuch through as we've seen in the past moments he put brett kavanaugh on pathway to confirmmation, with 51 votes. if it had been the old precedent, 60 votes, this nomination would be dead in the water. stuart: chad you know what you're talking about. those are the intricate details what comes next. chad pergram. joe manchin, democrat, west virginia said yes. all of the democrats said no.
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all republican said yes except for lisa murkowski, republican alaska. she said no. final tally? 51-49. what am i missing here? >> look it is interesting the timing of joe man chin's vote, when everyone came through at end, said aye. he becomes effective i the key vote moves them to the simple majority. look, i think that is what it will look like tomorrow as well. it will be close vote. liz: great point. there was audible gasp in the room when manchin voted yes. he is in a state that trump won by 43 votes. the president has been out there campaigning for his republican opponent, state attorney general patrick morrissey. stuart: as this vote was being taken in the senate, we saw the stock market sell-off, not a huge selloff by any means. but when the vote started, when the presentations on the senate floor started the dow was down
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approximately 40 or 50 points top. it went down 100. if there is connection between the two, i'm not sure it is there. i honestly don't believe there is a connection. maybe another factor pushing down the market this morning. interest rates for example. 3:00 p.m. eastern. republican susan collins of main will. she will make her vote known at 3:00 this afternoon. tell you she voted yes on the cloture vote just moments ago. dow is down. vote has been taken. watch out for susan collins. 3:00 this afternoon.
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stuart: all right, everyone, it's almost 11:00 o'clock in the morning here on the east coast and in dc, very big day. the senate has just wrapped up a
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key vote on judge kavanaugh. the tally 51 yes, 49 no. key yes votes joe manchin, senator flake and senator collins also yes votes. here is the key, no vote from republican lisa murkowski, republican of alaska. the final vote that would put kavanaugh on the bench or not is on track for late tomorrow afternoon. we have a big line-up, mat schlapp and later in this hour senator bill cassidy and white house senior communications adviser mercedes schlapp. dig bay for your money. the low of the day, we are down about 105, 106 points. earlier today the job's report 134,000 new jobs added in september. and we are looking carefully at rising interest rates, the yield on the 10-year treasury hit a new 7-year high today. that's upset the stock market.
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a lot to go at. the third hour of varney & company is about to begin. ♪ ♪ stuart: i repeat the breaking news, the big news come from the vote on kavanaugh, 51 yes, 49 no, this is just motion to proceed, on the line again chad, i think the big deal coming up, chad, is sussance collins will who take to the floor to the senate and say which way she will vote in the final vote tomorrow, big deal? >> absolutely. now sometimes senators make a point, they will vote to end debate and that's not necessarily though reflective of how they'll cast final ballot. i will vote to end debate and move process along, we will find sometime later this afternoon how susan collins will vote. but if this vote holds, if the
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matrix holds with one democratic defection and one republican defection they would confirm brett kavanaugh whenever the vote respects tomorrow afternoon at 5:00 o'clock. stuart: no guaranty that the vote we have just seen would be reflected in the vote that we will see tomorrow. >> that's right. sometimes it is reflective, sometimes it isn't. stuart: yeah. >> you don't have everything locked down till the very last moment, you know, we know that steve james, republican senator from montana is a yes, it's a question when they actually pull that vote and whether or not he -- he's able to get back here, he says he will. he's supposed to attend his water's wedding in montana and we have seen them hold votes open for a long time for senators, there was a great story about lbj, lyndon johnson when he was senate minority leader and he called out to the tower at national airport, now reagan national airport, talked to controllers and got
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humphrey's plane first. they go to extraordinary measures around here. stuart: interesting detail, chad, thank you very much, indeed. i'm sure we will be calling on you all day long, appreciate pit i notice as the vote is being taken the stock market began to slide, and now we are down 116, 120 points. i don't believe there's a connection between the kavanaugh vote and the market action of just a few moments ago, am i going right here? >> no, i think we are absolutely right. we hit the lows of the day, 118 points down. that was reflected last week, look at the testimony, look at the dramatics, had no impact on the market and i don't think it's going to continue today. stuart: a divorce here. liz: they are weighing the rising yields. stuart: what do we have at 10-year treasury? 2.1%, where are we, can you tell me, please? on the screens, 3.21%.
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that's not a sharp rise in rates, we saw sharp rise in the last couple of days, we are holding 3.2%. liz: the issue is the federal reserve moving faster with more interest rate hikes, i think that's at issue here. stuart: okay, president trump has been tweeting about the kavanaugh thing. i think i'm going to quote directly here, very proud of the u.s. senate for voting yes, this came to us, the president tweeting this, very proud of the u.s. senate for voting yes to advance the nomination of judge brett kavanaugh. so he's watching, he likes it, but again we have to tell you, there's no guaranty that the vote we just saw will hold in place for the vote we see tomorrow afternoon, right? >> right. liz: that is correct. >> there's confidence among republicans even if we get to 50-50 you still have the tie-breaker of vp mike pence. stuart: matt, come on in, please, your reaction, first of
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all? >> well, it's a big, big step in this process especially to get a democrat, to get joe manchin to actually vote for brett kavanaugh is a big, big step because that'll give cover to a couple of other democrats who are still not public in their position but, stuart, the most important thing to remember in this vote, this really is not a test vote, it's different. sometimes they'll run a vote in the vote to see how the final will go, there's still 5 or 6 members who could either switch their position between this vote and the next vote, so all this really does is get us into extra innings to finally figure out where they would be tomorrow on confirmation. stuart: would you expect to see some of those senators, democrats from trump-voting states, would you expect them tomorrow to vote yes? >> i think -- yeah, i really do think there's a real chance, joe manchin knew if he didn't vote for brett kavanaugh that he has a really good chance of losing in west virginia. i think he still has a really good chance. people like joe donnelly in indiana and mrs. tester from
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montana, they are seeing their leads evaporate in the races and a lot of it is because republican voters, trump voters and conservative voters are saying, this is a test, are you really with the trump agenda or are you not, look for more democrats, this is painful for people who don't know what they think, stuart, they are talking right now, what can i get away with, can i vote with chuck schumer or do what my constituents want me to do. stuart: joe manchin may have given the reluctant supporters of kavanaugh, amongst democrats, he may have given them some cover to come out from their cover tomorrow. i'm not looking at this positively or negatively, one way or the other, but seems like the voting takes place. >> that's exactly right. joe manchin is candidate, he's got so many things going for him and people say, look, if you joe manchin knows he's in trouble in west virginia because of his -- the potential that he would oppose brett kavanaugh, what's it like for other democrats who don't have quite the stature of
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joe manchin, they are looking at their own situation and saying, look, i might want to vote against him because i'm a liberal but i play a moderate when i come in state like indiana and montana, these states were big for trump as you said, stuart, if they rote against kavanaugh they are essentially saying they don't want to come back to washington. the stakes couldn't be higher. stuart: in terms of fundraising seems like the kavanaugh issue is pulling money into the gop's coffers. i want to read you this tweet. i want to read for viewers. thanks to our great supporters who want to see judge kavanaugh confirmed, the rnc had its largest fundraising day in history last sunday. could it be that the democrat strategy throughout this is backfiring here? >> absolutely backfiring. you know the one thing i'm looking at, stuart, not only the vote about brett kavanaugh gets confirmed to the supreme court and i'm still confident he will, but whether or not voters out there across the country who are
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on the right can imagine the intensity of all these people that are so fired up and trump haters on the left and what all the polls are showing is that the intensity and the energy is really surging with conservatives, with trump supporters and when you get excited about an election you start to write checks and you start to get active. stuart: conservatives don't get in the face of their political opponents, they don't do that. the left does that, the left is provocative, the left is provoking violence here and i expect to see a lot of it this weekend, how about you? >> you know, stuart, i'm disgusted that the supreme court is being talked about within the election context but you're willing honest and i'm being honest, it is because of what the left has done, they make everything political, they've made everything about the supreme court political and here is the thing, i oppose and a lot of republicans oppose a lot of these democratic appointments, they destroy our appointments, there's one thing to have a political difference, it's another thing to try to go in search and destroy mission to
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ruin a man's life. that's what they have done with brett kavanaugh. the american people aren't going to stand for it. stuart: ruined a man, career, his wife and family too. let's not forget that. >> that's right. stuart: thank you very much, indeed, see you soon. other headlines and we are following you, first off tesla chief musk mocking the sec in a new tweet. could he be putting settlement with sec in jeopardy. this guy might be more trouble. senator bernie sanders wants mcdonalds to raise wages $15 across the board. later this hour former mcdonalds ceo says sanders is grandstand to go stay relevant. how about that? check the big board, we are down 127 points. we had 134,000 new jobs created last month. i told larry kudlow i thought the number was disappointing, he disagreed and he threw sports-betting terminology at me. what's -- watch this.
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larry, i will try to be more positive on the economy. >> i want you to take the over, not the under. stuart: if i understood sports gambling i would probably agree with you but i don't. [laughter] compensated. our philosophy is one of service, not sales... that's why i'm independent. charles schwab is proud to support more independent financial advisors and their clients than anyone else. visit findyourindependentadvisor.com
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stuart: it's not the low of the day but pretty close, we are down 127, just shy of 26,500. actually right at 26,500. jonathan hogan is with us this friday, i understand that you have turned bearish, time to sell, make your case, what's the problem here? >> stuart, listen, i was preaching caution a couple of weeks ago on this t program, what did i get the music. [laughter] >> this is the reason why, this is the reason why, this market has turned extraordinarily weak. look at today, only 25 new 52-week highs. they are killing the unicorns,
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tesla getting butt kicked, amazon, sustaining growth market of the economy and one more are the junk bonds, stuart, jnk, et, if that tracks junk bonds, propelling the rest of the market, it's down and now is good time as ever to take risk off the table. stuart: jonathan, you make your case, all good, next week we start seeing earning reports, otherwise known as profit reports and most people are expecting very significant gains on top of the profit gains that we have already seen. isn't that enough or wouldn't that be enough to sort of put a floor under this market? >> well, the news is good, stuart, i'm not going to argue with that. we talk about everything from earnings which i do expect to be good to consumer comfort index, the news is great but that's very lagging indicater. you know, the fact is the average stock is somewhere 50
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and 75% of average valuation. they have bought this market, in fact, some statistics show us the average investor, stuart, as long as they have been in the market, since 2000, we know what happened then. i'm not a bear on the economy and not a bear on the president. you always say price is primary, the fact that market is weak is a reason to sell and not to buy. stuart: should i sell my microsoft? [laughter] >> well, when it comes to these individual decision, stuart, it's always about you, your own situation. if i had my -- if i had my life savings in microsoft and couple of years to retirement, absolutely, i would want to take risk off the table. microsoft and, apple, stuart, the type of stocks -- i remember in 2000 people saying cisco systems isn't going out of business, yeah, apple isn't going out of business but cisco was below 2,000 high for something like 15 years, amazon,
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apple, great stocks, netflix great stocks but the stocks that could correct and take a decade to get back where where they are today. stuart: i heard what you said there, a come of years of retirement. >> i'm not talking about you. stuart: just remember it's all about me, thanks very much, indeed. you're all right, jonathan. >> thank you, stuart. stuart: let's talk the job's report, 134 now thousand jobs created, come on in former labor department chief of staff paul conway, 132,000 new jobs last month, you're laughing, you know where i'm coming from, i think that's disappointing, how about you? >> i think the expectations are always higher than that and i think we were in a similar position last month, stuart, when we were talking about this candidly. is 134,000 the strongest number, no it's not. but you take a look at july and august, those numbers were 87,000, which brings it more to pattern that we are seeing which is consistent growth, so, yes,
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always advocate of higher number but you to take a look at this over 30, 60, 90 days. stuart: i haven't had the question answered properly. go back to reagan years, early 1980's, the stock market took off and months where we were creating 300,000, 400,000 new jobs each month and that's when we had a much smaller population, why are we not created 300,000, 400,000 jobs a month now when we have a much bigger population and the same kind of tax cuts? >> i will give you speculation here. you have the tax cuts in place but i don't think what you have fully in place yet is the deregulatory agenda at the same pace you had it under the reagan years. you are starting to see that kick in. i would attribute to the number of appointee on the president's team coming in. you will not only take a deregulatory actions but massive list of actions they will take in 2019, stuart, foot off the
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economy and those are administrative actions that federal agencies inhibit the economy. i think there's a potential. i still think a lot of folks on the sidelines, you are starting to see them come in that are are working part time that want to work full-time. i think we have to get next round of tax cut and health care on the table here. stuart: real fast, 3.7% unemployment as of right now awfully hard to get it below 3.7, isn't it? >> it is but it's not inconceivable. and so that number will tick up a little bit as more and more people come into the economy but i actually think if you go another year, stuart, you can get that down to 3%? whoa! regrettably we have to end it there. down to 23% that would be historic, indeed. paul conway, thank you very much, sir. see you soon. here is where we check different markets, first of all bitcoin hanging around at $6,500 a coin.
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the price of gold, 122,600. the price of oil still hanging around $74 per barrel, 274.73, the price of gas, no change, tinny fraction higher from yesterday, you are still at 2.91 per gallon. national average right there. the senate -- the senate will vote on kavanaugh tomorrow, final vote, but this afternoon we will find out at 23:00 o'clock which way senator susan collins will vote yes or no. she is one of the key votes here. 23:00 o'clock we will find out which way she's going. senator bill cassidy is coming up. he's been harassed by antikavanaugh protestors but he's not backed down and says he looks forward voting yes for tomorrow -- kavanaugh tomorrow. how about that? you can't do that, we will be back. how do you win at business?
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stuart: wall street journal reports that hundreds of facebook employees are outraged about a top executive who appeared behind judge kavanaugh in the kavanaugh hearings earlier this week. he's a top executive and they don't like him being there.
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liz: joel kaplin, a friend of kavanaugh. he will be at the town hall today too. here is what's going on, both mark zuckerberg and cheryl sandburg said they didn't like him going -- behind there. what watch cheryl sandburg said, quote, she supports people's rights but this was by no means a straight-forward case. they say he didn't violate facebook policy but they are saying it was a mistake, sandburg and zuckerberg for him to go. stuart: let's be clear, they don't like anybody in their company supporting in any way shape or form con terve -- conservative. liz: that's it. they have to have a town hall to calm everybody town. stuart: i wonder if this guy will survive. employees at apple heavily favored democrats in their election contributions, susan, what are they doing, 90%?
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>> 91% of overall donations went to democrats from 2014 to 2018 hillary clinton, she got $1.8 million from apple employees obama $788,000, now guess who the largest republican i guess donation receiver was from apple employees? stuart: i have no idea. >> house speaker paul ryan, not much, though, it was in the tens of thousands but donald trump, president trump received a whole $6,000. stuart: 6,000, that's it? liz: trump criticized apple, right, susan? >> yeah. conversations between tim cook and president trump. stuart: the lack of money is not because it's apple but it's trump. come on. [laughter] stuart: we are watching senate floor for any debate, if it happens to you, we will bring it
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to you, what does the white house think of kavanaugh situation so to speak, senior communications adviser mercedes schlapp coming up on that. we are watching your money, of course, we are not at the low of the day, we are close, wait, we have a guy who says now is the time to buy facebook, he says it's going to go up, we will be back with him in a moment
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stuart: all right, 11:30 and we are covering two big stories for you, left-hand side of the screen, the senate vote today move ahead, vote tomorrow afternoon. the final vote. on the right-hand side of the screen you are looking now at the low of the they for the dow and it's still going lower at this moment. now we are down 170 points. that's about two-thirds of 1%. we are back to 26,400. interesting to look at tesla for a moment. the stock is down today. now look at this tweet from elon musk, you know why the stock is down 5%, just want to say that the short-seller enrichment commission, that's sec, okay, he's mocking the sec, he says doing an incredible work and the
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name change is so on point. ray wong with me on, ray, he's taunting the sec, that's a dangerous thing to do, isn't it? >> happy friday. unbelievable. you can't believe that he actually did that, you thought there were going to be controls in how he gets to tweet before he tweets, hey, he's a founder and that's probably what you're betting on, that's what the risk is on the downside. stuart: the settlement with the sec is not final, it has to wait for federal judge to pass on it and that federal judge could easily say, hey, this was much too l >> he's not repentant enough. stuart: is he getting special treatment here because he keeps breaking the rules? >> i don't know if he's getting special treatment, i think, i think people are just -- they
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realize that he's going to have to reform to make the change and kim coming down from the chairman job to ceo is enough punishment but apparently he's taking it personally. stuart: the stock is down 5%, significant drop. >> unb believable, even after production numbers. they hit the 53,000, 80,000 car numbers, that should have sent the stock up but he's kind of his worst enemy at the moment. stuart: yeah, lay off the twitter account, just a suggestion. [laughter] stuart: facebook, 158 at this moment, but you think it's going up, you say buy it, make your case, please? >> 2.25 billion users, when they start talking about enterprise, there are lots of accounts, biggest companies in the world are using facebook at work and building, they have a secret lab, flying cars, new ways to
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look at electricity to new types of communication devices, there's something coming out there but they have been quiet and the downside is they've been hammered by privacy and trust. we will see what happens. if you're holding 12 to 18 months, something to keep in portfolio. stuart: you think that the fundamentals of facebook, the amount of money that it makes, the good ideas that might be coming down the pipe, you think that outweighs all of the problems that facebook has with privacy, 50 million people hacked just last week and the suppression of conservative opinion, you think that fundamentals outweigh all of that? >> i think the fundamentals are there. you look in the value yeah, when you ask people where they are going to, when they leave google, they leave apple, netflix, large-tech companies, they are going to facebook and so they are still attracting the top talent in the valley, they are still attracting the top
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talent in campus, they are getting the talent, that plus number of users that plus the base. there's a lot to go. they haven't gotten into payments, if you think of chinese tech companies, they have gone from social media, payment, media entertainment. facebook has a lot to go than just advertising, they can do payments, pieces in terms of enterprise piece. a lot of upside here. stuart: okay, on friday october the fifth, ray wong on tape said, watch out, facebook at 158 and it's going up from here, you realize the virtues of video tape, you can be brought back again to answer for your prediction. >> i'm going to have to eat something i'm sure. [laughter] >> i'm ready for that. stuart: yeah, you are, good man. hey, ray, thanks for joining us, thank you. let's talk interest rates for a moment here, on the screen the yield on the 10-year treasury up
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today, 3.22%. gone up a lot. i want to bring in bob, the chair of the investment sales division at jal specializing in commercial real estate. bob, welcome back. >> hi, stuart, good to see you. stuart: you call yourself a contrarian because you say rising interest rates are not bad for commercial real estates? >> not necessarily bad. rates going down clearly are rocket fuel for the commercial real estate industry. it's not they rise but why they rise. we have tangible traction in the economy, gdp is both, employment numbers are good and along with unemployment numbers we are seeing positive wage growth, consumer confidence is high, expectation index is soaring, these things are all very, very positive so while interest rates and capitalization rates and capitalization rates turn, those
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two rates are highly correlated so as interest rates rise, capitalization rates rise, that exerts downward pressure on property values but when you look at the tangible traction, the economy, that's going to make net operating income in commercial real estate increase as well so even with rising cap rates you can have increased value. if they go up for the right reason it's actually a really good thing for real estate market. stuart: they are going rising for right reason? >> they absolutely are. stuart: you specialize in new york area? >> new york metro. stuart: can you give me a benchmark on prices to demonstrate your point that even though rates are rise -- rising commercial real estates are rising? >> they have stabilized. they have fell a little bit during the cycle. if you look at the last cycle we have been 2014-2015, the peak of
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the market, more buildings sold than ever before, 5,534 buildings were sold, all-time record by more than 10%. in 2015 we had 80.1 billion in sales, since those two years both of those metrics have steadily decline and we saw prices start to come down on a price per square foot beginning at tend of 2015 through '16 and '17, now they have stabilized and even with rates rising, the fundamentals of real estate are starting to be bolstered by the traction in the economy and that is going to make those incomes rise and as net incomes rise even with rising rates we will see an appreciation in real estate prices. stuart: i was hoping we would get to rising tax bills as well. in new york city you have a problem. >> that's one of the biggest problems. stuart: huge problem. >> in the market -- stuart: why should i move new york city if i'm an xe -- executive, why
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should i move to new york city, it would cost me a fortune. >> a lot of reason other than economics. stuart: money motivates people. >> it sure does. real estate is a huge issue for the city, taxes are supposed to be property values yet when he went through period of 2007 to 2010 property values dropped by 28% in new york city and not in one year did real estate taxes go down, a huge issue and huge problem. stuart: different political party, just a thought, bob. seriously, thanks for joining us, sir, appreciate it. individual stock look at it. big name cosco, you know sales were just lukewarm, the stock is down 3 and a half percent. 8 bucks down on cosco. okay. now the senate has, indeed, started about 30 hours of debate of judge kavanaugh's nomination, final vote scheduled for tomorrow, watch the debate in
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progress right there. we have reaction from the white house and capitol hill, mercedes schlapp and senator grassley. we will be back. some things are good to know. like, where to find the cheapest gas in town. something else that's good to know? if you have medicare and medicaid, you may
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>> what you're seeing right now at the markets is selloff slightly ever with the dow jones down 159 points, part of the reason is you have job's report for september coming lower than expected but it's the revised numbers that are moving markets because there could be some more tightening from the fed, one of the big movers ge, you're seeing the stock up 4% earlier this week they got new ceo to turn things around but is moving the stock, today is compensation plan, getting salary but also getting a bonus, commission structure that means he can get about 2.5 million to 7.5 million shares if he appreciates the stock price. there you have it. we will have more coming up on varney. ♪ ♪ cal: we saved our money and now, we get to spend it - our way.
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stuart: all right, pay attention bottom-right-hand corner of your screen. breaking news, protestors are outside senator jeff flake's office and they are outside that office right now, so is edward lawrence, what's going on, edward? >> they are walking the hallways here. they stopped at senator flake's office and stopped at mitch mcconnell, now a group of protestors here, folks, the white shirts are prokavanaugh supporter, the folks on the black shirts are protestors against kavanaugh nomination, they both ended up in this same
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hallway, russell senate building talking with one another at the moment. the capitol police are in the area, you see extensive presence from capitol police. protestors are walk to go republican senator senators who voted yes. so right now sort of calm but very loud back to you. stuart: one second, edward, i don't believe that those on the left, those on the right, the prokavanaugh demonstrators, i don't believe they are in the face of senators the way the left is in the face of senators, have i got that right? >> correct, that's correct, the prokavanaugh supporters just walking the hallways, i talked with them earlier and standing off to the side, not in the face of all of the senators, you see the white shirts in the middle, the anti-- against kavanaugh supporters who are the ones who are walking the hallways and making noise. now you see prokavanaugh supporters singing patriotic songs here.
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you sort of have both protestors in the same place but you can see this all happening right now. you'll have to see exactly where everybody goes, the capitol police watching this closely. stuart: thank you very much, edward lawrence, it sure is getting loud but we can hear you. thank you very much, indeed, sir. mercedes schlapp is with us right now. mercedes u are you there? >> i'm here, i'm here. stuart: i'm sorry, i couldn't see you. >> well, we are more confident that justice -- that judge kavanaugh will be voted in tomorrow, obviously watching this vote advance forward is so key, just passing a key hurdle that we, of course, are now feeling more optimistic and we will see what happens tomorrow but i think, you know, the case has been made, it's time to put the emotions, i know that we are
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seeing a lot of emotions out and the protestors on the hill but it's time to move forward on this process, this has been a very emotional, stressful and to certain extent embarrassing spectacle in the senate that has happened and right now it's the moment to move forward and making sure that we can get judge kavanaugh on the supreme court. stuart: i just want to raise one issue which has not been raised very much, i think it should be. if you read the fbi report shows that some of the people that spoke to the fbi were pressured, pressured by antikavanaugh people to change what they said to the fbi. to me that's witness tampering and i'm astonished that we have not heard about it. >> right, at the end of where the facts are is there's no corroborating evidence which is exactly what judge kavanaugh had been talking about during his hearing, so what has happened is that because there's been, again, so much emotion attached
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to dr. ford and her testimony and we are very sympathetic towards that, the reality is that we have facts and we are stating the facts and it was very clear early on that when you're looking at the fact that these witnesses had basically refuted these claims, you had rachel mitchell, the special prosecutor who was at the hearing come out and say, look, there's nothing here that's credible, that was just basic evidence to suggest, to note that brett kavanaugh was innocent of this charge and we are at a point right now that we have to look at judge kavanaugh's record, we keep forgetting that there's this 20, 25 years of public service of judicial opinions, of the fact that he stands to be an independent, impartial judge, that's what judge kavanaugh is going stand for in the supreme court and what has happened is blurred and overtaken by the protests and all of the emotional situation that we are seeing play out and so it's a
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lot of pressure on the senators but i know the senators will do the right thing. stuart: yes, indeed, mercedes, thanks for joining us. i want to go straight to senator cassidy. senator, let's get right to it, will judge kavanaugh be confirmed in the final hour tomorrow afternoon? >> absolutely, he had enough to confirm him now. somebody can die between today and tomorrow, even if it turns out to be 50-50, vice president pence would come in but he would win with the same margin. stuart: there was audible gasp in the senate floor when joe manchin cast yes vote. a lot of people believe that could give cover to other senate democrats and you'll get more than 51, 52 votes as a yes, what do you say to that? >> joe manchin decided to vote for fairness and people of west virginia. others decide today vote with chuck sheemer and not represent the wishes of their state, they
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seem to make their own decision, i stress the fairness because everyone is concerned about the allegations that dr. ford made but when you read the fbi reports of witnesses that were mentioned by dr. ford they either refute, disagree or say they have no remembrance of it. the people who voted yes, voted for fairness. stuart: i want to show our viewers again the way you rebuked the direct protest in your face the other day. roll the tape, please. >> would you like that? uncorroborated story? stuart: i think you're expecting more of this, mr. senator. our viewers are watching you confront the young man. more of it to come? >> mitch mcconnell's speech was perfect, the left think by
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thuggish behavior they can intimidate and change the direction of our country, our country is not directed by thuggish behavior and should be condemned, mitch condemned it and i think his point if we allow thugs to -- to direct the future of our country the thugs have won. we cannot allow the thugs to win. stuart: mr. senator, thank you very much, indeed, for taking time out on big day, we appreciate it. >> thank you. stuart: next case senator bernie sanders now he wants mcdonalds to pay all of their employees 15 bucks an hour, next we will talk to a mcdonalds former ceo, i want to know what happens if mcdonalds did pay 15 bucks an hour, fewer jobs is my answer. look at the big board, low of the day, yes, it is, going down, 228 points, we are back below or right at i should say 26,400. we will be back too. your company is constantly evolving.
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stuart: sell ah on wall street, down 200 yesterday and down 250 as of right now. i think it's interest rates which are rising. i don't think it's kavanaugh. we will see. bernie sanders wants mcdonalds to raise wages, pay everybody at mcdonalds at least 15 bucks an hour, come on in ed ramsey,
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former ceo of mcdonalds. i want you to tell us what happens to mcdonalds if they did pay 15 bucks an hour. >> bernie sanders is irrelevant and he is just making a lot of noise. the fact of the matter is mcdonalds corporation has divested themselves to virtually all company stores and the stores are owned, the restaurants are owned by franchisees, labor is getting tighter, it's harder to regroup people. i did a survey of 46 stores across the united states, four different franchisees last night, they are paying average 14.72 an hour, an average of 14.72 an hour now. bernie sanders has got his facts wrong, his attitude is bad, he's making money off of getting other people's money and giving it away. stuart: last time i went to mcdonalds i was confused because you were supposed to order at
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kiosks and i couldn't work it out -- [laughter] stuart: stop laughing at me, those kiosks are strong wage gains, and if you go to 15 bucks an hour you will see more kiosks and automation? >> absolutely, you will see industries move to automation because you can get better performance, they don't have sick days, the reality of it kiosks are appeal to go younger generation that are used to doing everything on tablets and smart devices. i can't stand the things, i won't touch them. i walk up to the front counter and i eat at mcdonalds every day. stuart: you do? you do -- you eat at mcdonalds every day? >> absolutely. i intend to live forever. [laughter] stuart: what's your favorite, big mac, you eat big mac and fries? >> no. sausage mcmiffin for breakfast, quarter pound hamburger for lunch and at night i have a
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flurry. stuart: we have to have you back to check on your health because you look pretty good to me. maybe i should get a new mcdonalds diet. see you again soon. more varney after this. . . der with a double palm grab. who has the upper hand now? start winning today. book now at lq.com. (guard) whacontrolled fury.... freakish intelligence. wicked seduction. these endeavors will rattle your soul...
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stuart: look at this. low of the day down 260 points. i think it is rising interest rates, what do you say? >> got to be it, right? biggest two-day slide since may of this year. higher rate, seven year highs. liz: i agree with susan. almost full employment the federal reserve could hike rates faster. nasdaq ugliest week in six months. stuart: watch out 3:00 this afternoon, i recommend you watch the fox business network, when susan li is doing the show at 3:00. why 3:00? that is the moment when republican susan collins, senator collins of maine, stands
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up on the floor of the united states senate says which way she will vote tomorrow, when the final vote is taken on judge kavanaugh. find out at 3:00, susan collins, yes or no. neil, i'm out of time but it is yours. neil: certainly the interest rates are big factor here but do you think even though it has been dismissed because the markets don't focus on this, the possibility that judge kavanaugh doesn't become a justice and i'm wondering if that rankles some folks or is seeping into this debate? stuart: maybe but at the moment the signs suggest tentatively that he will be nominated successfully to the supreme court. if it was looking like he wouldn't get in, that theory, that is what is taking the market down that would have a bit more credence, at the moment it looks like, i don't want to make a speculative point but looks like he is in. neil: in a very nice way you totally dismissed my point.
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stuart: yeah. neil:

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