in the news cycle and the newsday given what is going on with these explosive devices being shipped. >> praying there is no more discovered today because we had two more. dagen: mike murphy and jack brewer, that does it for us. varney and company, take it away. stuart: good morning everyone. you are going to like this. it is called bounce back. not all the way back after the big selloff and no clue how the market closes today but here's how we open. gains for all three averages up triple digits, 120 points, s&p on the move to the upside but the tech heavy nasdaq charging back 1% as we speak. i will focus on three big-name stocks that are moving today. first off, tesla, huge yet. it reported a profit, making and selling the model 3.

finally the production line is working and stock is up 10%. twitter, strong profits, strong revenue but what is really turning on investors is purging of fake accounts, active monthly users down in part because of the purge but the market likes it, stock is going up 10% in "the opening bell". microsoft truly a member of the big tech club and clearly showing terrific financial results. this is a rebound. the start, i own some of it is a premarket. lots of other earnings reports coming out mostly solid, we will get to them in a moment. microsoft up 3%. there is other news and it is not good. there is no end to our toxic politics, stability has not returned. after several suspicious packages were found at the homes and offices of leading democrats donald trump called for unity, stability, peace and harmony. he was somber and subdued but

senator schumer and former speaker nancy pelosi quickly put out a joint statement. they said the president's words ring hollow and he himself had condoned violence. the media echoes this blame trump approach. a chance to bring us together has been missed. stay with us. we have reports of two more suspicious packages. "varney and company" is about to begin. ♪ stuart: new york city police transporting another suspicious device, this one sent to the restaurant owned by robert they niro. >> greenwich street in manhattan. it was discovered early this morning, 4:00 am by a building worker who noticed the package, it was addressed to robert they niro himself.

they immediately notified the police, there was no one in the building at that time of the morning but you can see they put it on the truck and we believe took it out to the bronx where it will be further studied and onto the fbi seen for any clues who sent it. no statement from robert they niro but we have one from the restaurant. stuart: another one. this is in delaware. ashley: hard to keep up with this but i believe this is the ninth possible situation. live picture here of postal sorting facility in delaware county, telling fox news another package came in, this one addressed the former vice president, joe biden and it is similar to the rest of the packages we have seen over the past several days. stuart: let's move on and show our viewers what donald trump said about these bomb scares. role that tape. >> no nation can succeed that tolerates violence or the

threat of violence as a method of political intimidation, coercion or control. we want all sides to come together in peace and harmony. we can do it. we can do it. we can do it. stuart: that is the president. democrat leaders nancy pelosi and chuck schumer issued a joint statement, two excerpts from it. number one, donald trump's words ring hollow until he reverses his statements that condone acts of violence. another one, time and time again the president has condoned physical violence and divided americans with his words and actions, expressing support for the congressman who body slammed a reporter. you get the point. senator john kennedy, republican louisiana. we have come to this but i don't particularly care for the democrats response and you say? >> i am sorry, i am sorry this happened to the clintons and

the obamas and george soros. i don't agree with anything he stands for but so sorry this happened to him. sorry happened to cnn and to america. we will catch the person. this is a big wide open country. unfortunately we do have some people who are mentally ill. this may be perpetrated by someone who is not mentally ill but just angry, a whack job -- stuart: did we lose the moment? we had a moment we could have come together and said both sides knock it off, let's get real, let's get civil. >> i appreciated what the president said last night. do i think hot political rhetoric has caused this? we don't know yet. i think it has contributed to it. the president has used hot political rhetoric. so have my democratic friends. i remember a month ago a former

secretary of state said we can't be civil at all to the other party. i remember a famous comedian held a fake severed head of donald trump on television. there has been a lot of hot rhetoric from both sides. we should bring it down a notch. we can ride the anger or we can solve the problem. we all have our own opinions about the genesis of this anger. i think it is because we have too many americans who no longer believe in the american dream. they think the american dream has become the american game and it is fixed and these are good men and women who get up and go to work and obey the law but they feel the american economy they are not sharing it economically, spiritually, culturally, we are trying to do something about it in washington. this is the best economy i have seen in 25 years, very proud of

it. it is what happens when you trust people to spend their money more than government. stuart: we are going to speak more on the economy with you, you graciously decided to stay with us. >> i'm honored you would have me. i have been watching you for years. stuart: really? >> i won't mention the other networks, you have been on other networks too. stuart: that was a long time ago. thanks for being here, stay there. i want to get more on your money. the business professor at kings college in new york is with us. i'm referring to the stock market. for two years we have said you said i said, we have all said this market just wants to go up. do you feel that awkward move, that momentum is over? >> it still want to go up, it looks at an economy that is strong, fundamentals a great. when you have a strong economy the market wants to go. we have more uncertainty around interest rates, tariffs and the election. the election issue is going to go away.

interest rates might hang on. stuart: these negatives hanging over this thing, going away, china going away, italy going away, interest rates going away, that is a tough road. >> the biggest barrier because the president and jerome powell don't seem to get along because it creates problems next year but not as pessimistic about china and tariffs, we are seeing a lot of negative headlines. pennies the service this administration wants to get things done, they hone in on intellectual property issue and i'm more optimistic that by early next year we could see real movement. that will be great for stocks. stuart: tomorrow morning at 8:30 eastern time a report on how strong the economy is? >> we will get a high 3 number which is great news no matter what you say, no way we should

be complaining about economic growth in the high 3s, that is a huge accomplishment relative to the last decade and if you rain on that parade -- stuart: i'm just saying it is a little disappointing. you thought you would get 4% or 5%. >> complain all you want about not getting 4%, it means jobs, wages, opportunities. ashley: consider where we came from. we were happy. stuart: i stand corrected. are the midterm elections a referendum on donald trump and the trump growth economy? >> to some extent yes but it always is. the midterm elections after a new president's first-term are always a barometer on what people feel about him but i think this time he has a good story to tell, we all do.

the gdp, i ecstatic, we bust through 3% i will be happy today. i remember we all had a toga party at 1.8%. normal growth for america if you go back from 2008, 30 years, during president obama's term for whatever reason we started doing accept mediocrity. america is a lot of things but not mediocre and we are back on the right track and i am happy. i would love to have 4% but if it is above 3%, toga party. stuart: i hope i never cross you. you can cut someone to pieces in the nicest possible way. >> i am so happy for american people, wages are going up, taxes down, 4 million new jobs. last quarter we had 4.1% growth, we are deregulating the

economy. this is what america deserves. stuart: we want to 1-liners to keep flowing. check futures. where do we mark in -- open market? we were down 600 yesterday, backup 100 at "the opening bell". big guest coming up. kevin hastert compared bernie sanders to chairman mao. i will get into the rising cost of socialism with him. migrant caravans on the move headed north. martha maccallum is at the border. what she is seeing in alaska, she's on the show today. a lawsuit against exxon mobil. i call it bogus. it claims the company defrauded shareholders, looks like a political money grab. i will have it out with the judge on that one in the judge is next. very platform. yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything? hm. well i say no to kale.

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stuart: take a look at twitter. they are reporting a drop in active monthly users because they purged more of those fake accounts.

ashley: when twitter says we lost a lot of monthly active users you think there is a negative but market is taking it as a positive because they are purging fake accounts are combating spamy suspicious account and trying to get mid of -- get rid of automated bots the throne information the target people. as they get rid of those the quality of users go up. the revenue came in above average monthly active users around the world, still 326 million. stuart: next case, another big gain premarket is tesla. they are finally making money. this is all about the production of the model 3. ashley: they managed to pump out 3500, above what elon musk hoped-for and the demand for this vehicle will be half 1 million to 1 million cars a year, that is his estimate. he calls this an incredibly historic quarter. it will be his last quarter as

chairman, for three years, as part of that deal with the sec. a good report. stuart: up 9%. new york's attorney general has filed a lawsuit against exxon mobil claiming the company defrauded shareholders by downplaying the risk of climate change to its business. judge andrew napolitano is here. i call this a politicized money grab and bogus. judge napolitano: you are being charitable. it is 96 pages of gobbledygook which argues because exxon mobil did not reveal the true costs of sources of fuel in the earth that it can't use because the federal government won't let them drill to it because it is intentionally underestimated the cost of the loss, defrauded shareholders. this is nothing but a $200 million lawsuit that will cause

exxon mobil to defend if it survives a motion to dismiss, and who gets the cash if the plaintiff wins? the government of the state of new york. stuart: a money grab. judge napolitano: absolutely a money grab. stuart: not the job of the attorney general of the state of new york. judge napolitano: the worst type of litigation, a shakedown and that is how it will end. they won't litigated it won't go to a jury. how much can we pay to get this beast, the government of the state of new york, off our backs. stuart: they will be forced to settle, forced to pony up some money. judge napolitano: it might be cheaper to settle than to litigate so they will make a business decision, $200 million to litigate and they settle for $100 million, it is obvious what the answer is. stuart: what a disgraceful use of the american judicial system in my personal opinion. judge napolitano: i hope it is a widespread opinion after this conversation on your show because it is just not the

reason litigation exists for these kind of shakedowns and a state like new york, far more serious things to worry about. stuart: as you can see to my right we have senator kennedy, member of the senate judiciary committee and former judge himself. what do you make of this? >> i assuming the attorney general under the securities and exchange act and if he is that is an abuse of securities laws and another example of an attorney general asking a judge to make policy that are to be made by the legislative body. judges are supposed to tell us what the law is not what the law to be. if we wanted to make climate change, it ought to be done in front of the people in the people's representatives, not in the courtroom. stuart: stay with us please. more -- judge napolitano: the senator knows what a liberal government we have in the state of new york. stuart: what he is doing in new

york. >> state motto is if you can dream it we can tax it. stuart: the dow industrial average will open this morning at 11 minutes time and up 100 points but nothing compared to the gain in the nasdaq that will be up significantly. those migrant caravans headed for the southern border could have an impact on the midterms. we will get into the political angle, we are coming back in a moment. cal: we saved our money and now, we get to spend it - our way.

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look at merck. they gave a rosy forecast, a dow component, sales of the blockbuster cancer drug double in the third quarter but that is not helping the stock. it is down 2.5%. there must be something in the financial report, we haven't gotten there yet. dunkin brands, sales of ice coffee, frozen beverages, help sales despite your people going into the restaurant. the board says it is unchanged, wait till the market opens. migrant caravans headed for the southern border, back to senator john kennedy, republican louisiana. how will this play out with 12 days until the midterms? >> politically i think the american people are going to be offended by it because i am offended by it. this is using immigration as a

political weapon. america is the most welcoming country in the world. we invited million of the world's neighbors every year but we have immigration laws that have to be followed. 500,000 people try to jump the line, that is illegal. you have to have respect for the law. we are a nation of immigrants but we are a nation of laws. what is happening with central american countries reminds me of what happened with the merry all boatlift by castro in 1980 where he put 125 people on both and said go to america. he tried to so chaos in our immigration system and whoever is behind this effort, that is what they are trying to do in the american people will see through it. stuart: it is a new era of mass migration. we saw it in europe and we are seeing it now, the emptying out of central america. >> it is not by accident.

one of the leaders so, congressman for windows of the labour party, not saying he organized the whole thing but he announced he helped organize it and i don't think he should use immigration as a political weapon. is undermines a sound refugee policy and a sound immigration system to try to overwhelm it for political reasons and i appreciate the trump administration not bowing to the pressure. stuart: do you think it favors mister trump in the elections? >> i like the way he handled and i think it does. stuart: thank you for being with us. >> mine, all mine. stuart: check the futures market, up 100 points on the dow industrials and up sharply by 1% up on the nasdaq. we take you to wall street to see how things shape up after yesterday's big selloff.

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they all lead here. cme group - how the world advances. stuart: if you have money in the market all lies on wall street. we had a nasty selloff down 600 points for the dow industrials.

a lot of that loss came in the last hour of business, down 200, 300 points. people want to know if we will get a bounce back this morning. if we do how strong is the bounce that? what is the psychology of the market? it is a rotten october, difficult for investors. what is the problem here? is the problem being erased as we approach the end of the month? 321, 9:30 eastern time. we are up and running and up 165, 150 points, 150, 160. please remember i don't know how the market will close but we have a modest bounce back, up 0.6%. show mode the s&p that is the on the up inside, 3 quarters of 1%. the nasdaq has got to be up 1%. look at that. 1.3%, 97 points, the nasdaq is

the home of technology. that tells me technology is doing very well as of right now. big names they reported their profits, ford motor company is up 4%. whirlpool unchanged, that will change pretty fast. lisa up 1%. merck, we are trying to find a reason for this, it is down 5%. we will dig into it. twitter came in with a profit and sales, doing well. big tech hammered lately, coming back a bit today, facebook at 148, south of 150. amazon up 37, apple at 218, alphabet up $21 a share, microsoft nice rebounds, 4% higher at 106. tesla making money. more on that later with gary but i will tell you it is open

10% up, $31. solid. joining us, scott martin, ashley webster, scott, to you. this isn't much of a come back after a 600 point loss. are the glory days over? >> not much of a come back but it is early and there will be grief on the screen after yesterday. give the market some time. as we have seen in markets like these where they overshoot on the upside they tend to overshoot on the downside too. we may not get everything back from yesterday, give the market a couple days and we will see good retracement here. stuart: i want to put on screen the big tech names because they have been hammered lately. look at the screen. is any one stock on sale that you would by now? >> absolutely amazon. amazon earnings are out shortly and we watch those closely but

look at amazon's business model, not just retail the cloud, online advertising, amazon prime is the gateway drug to massive internet spending, one of the best deals on the planet so to me amazon is the one if i were to say there's one on the shopping list, you absolutely have to have, that is the one. stuart: brian is a business professor, what about business performance of amazon. >> i love amazon and our but because they have a web services, the cloud computing, that is the quiet massive high-margin driver, and web service. >> you were talking about the mood of the market. >> selling leads to selling. the overriding concern is growth of the economy, and

china's economy, we haven't seen those leading up to this. should we are panic? absolutely not. stuart: october was the month of the big dip, and that has not been born. ashley: it will start looking refractive. or undervalued. stuart: it is below $150 a share. they are in a whole. can they dig out? >> they can. ash is right. this makes markets fun and hard. they overshoot the upside and downside, the advisor of ours, how the psyche, what is said, is tough to deal with.

and in the last couple years in 2017 we have barely an area drawdown, the biggest drawdown was 4% peak to trough. this year we are getting those peak to trough drawdowns of 10-11-12, the market is getting back what it should have done the last couple years. this is all normal behavior and you got to stay the course. stuart: scott is in a handholding operation. the big board shows a gain of 100 points for the dow jones industrial average. some individual stocks, they make cigarettes, big sales but stock is down 2%. american airlines, their profit cut in half because of higher fuel costs. the stock is up 3.5%. better sales, better profit at comcast, they attracted a lot

of customers with high-speed internet connections, the stock is up 5%. hershey plans to charge more for chocolate, lower prices and higher cost chipped away at the bottom line and the stock is down 6%. the pun was not intentional. good news for a change from tesla. it reported a profit, positive cash flow. time to bring in gary, our automotive editor. can they keep the production of the model 3 and can they keep up the profitability? >> production, they sell $56,000 last quarter. that was at half the production rate they are hoping to get to. even less than half. they are doing that now and doing it properly. that is incredible news for the company. stuart: a very positive report. they are back in business? selling this thing? got it on the market? this is all good.

>> they haven't gone to europe and asia with it, micromanaged production of sales targeting the most profitable novel. they changed prices left and right over the past quarter. that maximize the profits. don't know if you can keep that up in the us for another year but europe and asia waiting for this car, plenty of growth to be had. stuart: you are our car guy, the stock has been struggling recently, down $8 a share. what happened? >> the good news yesterday was the trucks they will shift to are gaining market share. they have super duty pickup truck selling for $100,000 now and a lot making money but money overseas, the bad news is we are having trouble in europe and asia but we can fix that. the big problem with ford is they have nothing to say about the future.

we will talk about that later, not ready to talk about it yet. time to get people excited are not willing to talk about something and that is the difference with tesla. there he was talking about the pickup truck, the most exciting product they have in the next couple years and it will be a couple years away. ford is the leader of trucks. it should be planting a flag saying this is what we are doing in the future. it has a hybrid coming out, that is the present, that is the past. is another one coming? i don't know. if tesla shows up they make after that flag before get a chance. stuart: it is up 6% as we speak and still only $8 a share. thanks for joining us, good stuff. mcdonald's, it's first new breakfast sandwich in 5 years. >> be right back. stuart: breakfast stacker, the eggs, double cheese, double sausage, bacon on it. why are you laughing? >> i was afraid you would come to me. there is nothing new about the

sandwich other than doubling the meat. there was a comment in the article that customers wanted more meet, more food for breakfast because sandwiches, i said the reason it is falling off was it wasn't healthy enough and they doubled the unhealthiness and think that is the answer. ashley: played your strength. >> it is worth whatever you have to pay for it. stuart: we are researching the cost. budweiser's parent cut its dividend in half because beer sales continue to fall. what is this about changing taste? >> millennials are not into beer, they are into wine. stuart: look at 9%, 10% down because we are drinking less beer. >> walk into a liquor store and look at the choices you have, all sorts of products, the growth isn't in beer. anything, any food you want to pair with any drink you have

many choices. this market is more crowded than it used to be and there has been no interesting innovation out of america's biggest beer maker. ashley: our rescue guide told us people are not drinking beer as much. wine and hardwood making a come back. stuart: luxury brand coach follows duty, uber, pledging to go for free. that goes down well with some people but how about the rest of the people? for free. is that good or bad? ashley: i am an animal lover so i say good. >> millennial like it because they are in the market for anything like that. they were like the fact that it doesn't have real for. stuart: last one to you, scott martin, for free, good or bad? >> let it fly. you got to get on board with it. my wife who still spends money

at all those retailers and outlets doesn't care if it is fair or not. stuart: what kind of answer is that? >> you fill in the blank. i didn't want to go any further because she is watching. stuart: time is up, 9:40 is in time. brian and scott, thanks for joining us. check the big board, we are holding onto a modest gain, 70 points up after a 600 point decline yesterday. 24-6 is where we are. more on those bombs sent to democrats and trump critics. could this be a turning point for political discourse in this country? i will ask bret baer in the 11:00 hour and donald trump says no more trade talks with china until they get serious about addressing our economic complaints. we are on it.

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stuart: gaining more ground, we were down 600 yesterday. we are up 130 now. then we have snapchat's voter registration drive. i believe this is a big success. ashley: it is a remarkable. they managed to register 400,000 users of snapchat, most of them 18 to 24 years old. it shows there's a trusting relationship between snap and their young audience but also how this technology in the power of the social media platform can be when you applied to other areas like politics so 400,000 less then a month. stuart: i would say that is pretty good. the trump administration says we won't resume trade talks

with china until beijing comes up with a plan to address complaints about technology transfers and other economic issues. joining us now is the author of the boule of asia. it seems to be we are holding back. america is saying we won't talk. you are not ready. this will be prolonged. >> i think we will have a meeting at the g 20 summit at the end of november between president xi jinping and president donald trump and that may get things started again. it depends on what china brings to the table. what they're going to bring to the table is this. they are going to promise new regulations to protect intellectual property rights. they will promise to end state subsidies for high-tech. they will promise to create a level playing field for foreign companies and to buy $100 billion, $200 billion worth of

agricultural and energy products. the problem with that offer is they have been promising to protect intellectual property rights for the last 30 years and haven't been able to do it. i don't think they will end state subsidies because that is xi jinping's china dream, the centerpiece of his drive for global dominance in high-tech. stuart: they know our president is pressing very hard and he is not going to let them off the hook with a couple of nice words about technology transfers. this president will hammer him until he has a real deal here. >> absolutely and he should. the trouble is, can a chinese communist party which in one sense organized corruption, is a corrupt enterprise, can they follow through on a promise to protect intellectual property rights and establish a level playing field? my sense as a china watcher for the past 40 years is no. a party of organized corruption

cannot guarantee rule of law, cannot protect intellectual property rights because they steal what they want and make up the rules as they go along. the only thing they can do is promise to buy $200 billion worth of energy and agricultural products. will that be enough to satisfy donald trump? i think it won't be. 6 months ago they were ready to buy $100 billion and trump said no. it has to be $200 billion and you have to do these other things as well so we are still a ways out from some kind of agreement. stuart: however, some kind of agreement is looking more likely sometime next year. would you agree with that real fast? >> i would. i agree with that because the chinese stock market is tanking. there protection team is doing what they can to keep it up but it is going down the tubes. the economy is weak in china, growth is down so they are under pressure at home to do something and do something quickly. that plays in our favor. stuart: you are well informed and we appreciate that.

see you soon. point market please. the day after the big decline we are up 140 points. the vast majority of the dow 30 in the green. look at facebook. that stock has taken quite a hit, down 30% from its high. question, can they dig themselves out of the hole? not much of a rebound today. maria bartiroma said down with oracle's larry ellison, criticized google for doing business with china but not helping our military. this and to this. >> i don't see how a company like google can say we are going to aggressively pursue business in china and stay away from doing anything with our us military. it is a terrible miscalculation. the day after chemo shouldn't mean going back to

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stuart: take a look at facebook. it is below $150 a share, 148 to be precise. joining us as nyu business professor and socialist scott galloway. >> here we go. stuart: i respect and admire your opinion on amazon,

facebook, google, i think you are right. i will pass judgment on sheryl sandberg. she is supposed to be the adult in the room the reorganizes facebook. what can she do? >> and inspiring individual who has written on personal loss and gender equality in the workplace, will go down in history as one of the most dangerous, damaging executives. stuart: what has she done to facebook? >> you heard the term lipstick on a pig. mark zuckerberg and sheryl sandberg are lipstick on cancer. this has been an organization that is trafficked in content or enabled content after cleansing. they have teams depressed. this is a company that has run unfettered and killed other companies with a completed because it refuses to screen content, does anything that gets in the way of its supernova business model has threatened democracies and elections. if these individuals weren't so likable they would have been out a long time ago and district attorneys would be talking about bringing charges of criminal negligence. this management team will go down in history as one of the

most dangerous and damaging management teams in the united states. stuart: there is talk about bringing european union regulations here that will reign in facebook. would it? >> i don't think so. i am not a regulation guy. i worry things like gdp end up being expensive and complex and cementing the leadership position of the folks that have the money and the lawyers. >> the u.s. navy every day they do their job and break these guys up. and a bid to be more competitive and advertisers, they make investments to make sure it is weapon iced and to the commonwealth, not bad for teams. stuart: break them up and have

them compete among themselves. would you say the same for google? >> to know how their intentions translates election one country controls 93% of the content that nudges you one way or the other. not thing we put search back in abolish it should one company have 93%? the best way to reduce the monopoly utility like powers to break them up. if you broke up youtube, might they decide the way to grow their revenue would be to not only have video-based search but tax-based search. if you want to bring google share down, unleash the second most powerful search weapon, youtube. stuart: i think there is a consensus emerging that the sheer power of these big-name tech companies has to be reined in. i think there's a consensus emerging that that is the right way to go and you are part of it. >> i would like to think so.

scott galloway. good man. a socialist, a good man. flu season is here and the fda approved a new treatment. ashley: the first one in 20 years. it is put out by genentech. once you study you start exhibiting the signs of the flu, you pop in a pill, you do it in the first two days and it starts to attack the virus and reduce the severity of symptoms. they still say you should get a preventive. shot prior to having to pop one of these pills but it is significant because it is the first drug we have had for the flu in 20 years. stuart: thank you for that. dow is up 200. look at that and now this. it has come to this. bombs center two former presidents, toxic politics taking a new unsettling turn. my take on that next. the right?

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stuart: explosive devices discovered. shock and yes, dismay. it has come to this. bombs sent to two former presidents. just 24 hours ago our toxic politics took a new, very unsettling turn. it could have been a moment for reflection, a moment to think, is this us? a somber and serious president trump delivered a calming message. we have to unify he said. he called on journalists to set a civil tone. the call to civility fell on deaf ears. top democrats put out a harsh message. nancy pelosi and senator schumer rejected the president's call for unity. they blamed him for the bombs. in a joint statement they said the president condones violence t was the perfect opportunity to call things down, to step back but they didn't. same story with the media. it's trump's fault. that is what they're saying this is trump derangement syndrome.

they detest our president, when bombs appear our country does not need incendiary statements from political leaders. don't stir the pot. it is dangerous. coming after the assassination attempt on steve scalise it is downright irresponsible. it is a losing political strategy. democrats don't seem to realize trashing justice kavanaugh turned decent people off. don't seem to realize open borders in face of an invasion is unacceptable to most voters. now they reject civility and cooperation in the face of a bombing campaign? trump derangement syndrome. they can't help themselves. they're locked into contempt and hate. we could go back to the provocative comments from maxine waters and eric holder or personal harrassment of republicans or some of the things president has said. we could rehash it all. let's not. instead listen to president trump. this is the way to go. >> any acts or threats of

political violence are an attack on our democracy itself. we want all sides to come together in peace an harmony. we can do it. we can do it. ♪ stuart: more on my editorial in just a moment. it is thursday, 10:00. we just got mortgages. ashley: i live for freddie mac. this is my time. came in at 4.86% on a 30-year fixed-rate. that is up from 4.85, despite all the turmoil in the markets, rates are fairly steady. rising rates are expected to continue to rise, taking more people out of the housing market. the housing market is an area that struggled recently. stuart: we didn't quite get to 5%. ashley: got very close couple weeks ago. edged back a bit but i believe the ultimate trend is higher.

stuart: market is up 250 points for the dow industrials. we were down 600 yesterday. what is the biggest gainer of all the dow 30 stocks? a stock i happen to own a little bit of. it is microsoft. it is up six bucks. that is 6%, the biggest gainer on the dow? what is the biggest drag on the dow? merck. we reported sales of keytruda, cancer drug doing very well indeed but stock is down 2%. why? it is guidance. that is the outlook that they offer to the investing public, good, not solid, down goes the stock down 2%. twitter, strong profits, strong revenue, taking action against fake accounts. the market likes that. look up 20%. that is a rally. tesla reporting a profit, how about that? making selling the model 3, up 25 bucks.

3%, 313 on tesla. staying on markets, gary kaltbaum, kaltbaum capital management guy. you were right about the selloff, take a victory lap. you were right. >> i wish i was wrong. stuart: you were right. so what about now? is the selloff over? >> i don't think so. i don't think you see this type of selling, all of sudden it just ends, we turn back up, everything is well and good, and we're in there is more time and price. there is something going on. housing stocks, topped out eight, nine months ago. i think the market is forecasting a definite slowdown across the glob. probably around here also i'm just not sure how much yet. stuart: slowdown across the globe, italy, trade, european banks. >> deficits, all that fun stuff. stuart: deficits, all that fun stuff. the overwhelming feel something negative, that is what you're saying? >> notwithstanding you will get big bounces after drops, seeing a little bit today, i think the

trend is down right now. the trend doesn't change easily. just patience here. i think you can trade around some of these things, traders, investors you will get lower prices in next couple months ahead. stuart: not that i owned some of it but i was inspired by microsoft that was a stellar report. are you including that in your downtrend? >> i like companies accelerating earnings and sales. they were here, now they're up here. they're doing everything right. you have to realize the market is almighty as far as stocks. if the market keeps going down, they will pull that back too. what i do look for companies with strongest earnings and revenues, relative strength, how they perform against the market. ones hold up best during the drop, microsoft is one of the names. a ton of stuff gone by the wayside. you see good earnings to the upside. a bunch of blowups. hershey my favorite chocolate is blowing up because of stock

earnings. stuart: you say blowing up, straight up? >> going down. stuart: we had someone on the show just the other day who loved hershey, said this thing was going up. >> he must have been talking about the chocolate because the stock is in big trouble here. stuart: can you pig out any other single stock you will buy right now? >> no. stuart: really no tell you why. when market is defensive, buying up consumer staples, utilities, those with are not the type that lead market up. you know what leads market up? technology? you know what is hurt most right now? technology. you have to take a step back to be patient. too many people continue to call the bottom every time we have an uptick. i don't think it is that easy especially you see markets like this. stuart: bottom line, no bottom yet? >> patience. it will happen before. it will happen again. stuart: welcome to new york. >> thank you. stuart: ash, you have an update on the package that was sent to biden. ashley: in delaware the mail

sorting facility there was another package believed to be linked to all the others we had addressed to former vice president joe biden the now we understand the fbi may be looking at another package at a delaware sorting facility. we have no idea who that package was addressed to, who it may have been addressed to, i am losing count it, could be 10. stuart: if there is another one in delaware, that would be -- thanks, ash. former cia director john brennan responding to president trump's tweet, this is about the explosive devices, calling for unity. this is brennan's response to president trump. it is harsh indeed. your inflammatory rhetoric, lies influence and disgraceful. clean up your act. the american people deserve much better. by the way your critics will not be intimidated into silence.

jason chaffetz, fox news contributor, former utah congressman. that was extreme. i thought we could have a moment coming together. not for mr. brennan. >> i thought brennan's comments were disgusting. i liked your comments at the top of the hour. listen, it's a time for unity, when the president extend a hand at unity, this is attack on our democracy as a whole, nancy pelosi, chuck schumer swat it away, brennan do this, that doesn't help the situation in any way, shape or form. i thought marco rubio had the best comments i heard. look, we do have vigorous debate in this country but that is no excuse for violence. stuart: true. >> the substitute for violence is vigorous debate. we shouldn't be afraid of that. that's what we do in this country. this is not the time, it is not the place. it is not what is called for and it is not going to solve the situation. it is going to exacerbate it. stuart: in interest of fairness i have to tell you what president trump tweeted this morning. i think this is directed at

media. a very big part of anger we see today in our society caused by purposely false and inaccurate reporting by the niece media i call fake news. it is beyond description. mainstream media must clean up its act fast. that is not conciliatory. that is carrying on, not ugly but the harsh rhetoric directed at media. >> i thought the president's verbal comments when he was at the rally i think were well-taken and well-served. there are a number of people that are upset at media. that is acknowledgement of that. i think everybody needs to take a deep breath. to understand, we have problems, we have challenges in this country. we have an election that is important. you settle this at the ballot box. you will not do this in a tweet or two. stuart: we missed a moment. the moment realized yesterday morning. >> i would argue that moment

happened when steve sallies was shot. -- scalise. you remember outrage, concern, love of country. you saw both countries support and get behind steph scalise, not because they support him politically but he was a human being shot by a madman. we were united. somehow it quickly became separated. let's go back to the feeling we can disagree, we don't have to be disagreeable. don't take it personally. we disagree on policy. that's okay. stuart: in ther era of trump that is difficult. jason, thank you. big hour on "varney & company." caravan forging ahead. a few hundred have broken off applied for asylum in mexico. the images are much like those of the migrants who trekked through europe a few years ago. could it be merkel's undoing? an interesting story. we are on it. fox news's martha maccallum is on the border

in arizona. we've been hearing about thousands of arrests on our border of the she will update us on that. plus a big day for your money. amazon, alphabet both report after the bell today. we'll tell you if you should buy them before they report. you're watching the second hour of "varney & company." ♪

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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: update on the now two packages for joe biden. ashley: law enforcement telling fox news, one went to new castle, delaware. another went to wilmington, delaware. fbi authorities investigating both, both packages, similar to others last several days. my count, 10 potential explosive device. no injuries. confirmed now, two packages

addressed to the former vice president. stuart: worth noting none have gone off. ashley: not at all. the one began all of this, soros, they had to use another device to blow it up. it wasn't going to blow up by itself. suggesting it is amateurish. maybe it's a message, maybe not, make no mistake you have to take the utmost precaution. stuart: thank you, ash. the migrant caravan headed north to our border. i keep saying this, it is reminiscent of those long migrant lines that hit europe couple years ago. steve hilton, the host of "the next revolution." steve, what is the next revolution, we, americans we could learn from what happened in europe in 2015? lessons, please. >> very simple, stuart. open borders are a disaster. open borders happened in europe in two-ways. first of all, open borders is the official policy of the eu, for countries within the eu that is literally what they mean by

free movement of people. you can go between the countries, whatever you want but what angela merkel did a couple years ago, open the external border, say to the refugees fleeing, not just violence and war in the middle east but frankly poverty in the middle east and in africa. come to europe. come to germany. we'll take care of you. then what happens, once you to in through the external border of the eu, you can move around wherever you want within the eu yourself. saw exactly same thing your seeing now here. where you had people coming into europe through one point of entry, moving through these countries. i'm from hung todayry. i was there with my family, in a small town in hungary where this was happening. that place was overrun as thousands and thousands of migrants were moving through on their way to germany. it has been a disaster. i have family members in germany at the time they were welcoming those people. they were proud of angela merkel saying come to germany.

they thought it was a great idea, preparing food and gifts making refugees comfortable. two years on, i have just spoken to them. they say the whole thing is disaster. of the migrants are not integrating, won't learn german. a burden on society and economy. that whole thing is a disaster. we have to avoid it here by being tough. stuart: a parallel what might happen to the caravans, hundreds of thousands of people coming in. you see a direct parallel? the president does by the way? >> it is exactly the same. by the way it tells us something very important about the fact that our immigration policies were designed in a different era before you had this mass migration which has been enabled by cheaper transportation, by social media and other methods where people see what is going on elsewhere, saying i want a part of that, i want to move. it is all from a different era. we have to rethink our whole immigration policies to meet

this new challenge of migration. number one, to have strong, tough borders. so there is no incentive. at the moment our system is such a disaster, just like in europe, people can come here to think, you know what? i will get to the border. they will have to let me in. they know the system is overrun. they will be caught and released because they can't, because the authorities can't cope with the numbers. so you have to have that wall. and you have to got to have tough, proper enforcement of laws. you have to change the laws so asylum-seekers cannot use the claims of asylum to cover up they're really coming for better life, jobs, so on. that is great. but you can't have everyone in the world coming to do that. stuart: i know you're familiar with all the arguments about social networks and privacy and data breaches, all the rest of it. we have tim cook from apple. he is pushing for new privacy laws, focusing our social networks in america. seems to me they're ganging up.

enormous pressure for reform of facebook and google, all the rest of it. i know you have a facebook connection. do you think this pressure, which really is building up here? will it have results? will we rein them in? >> not enough, i think, stuart. you will have some regulation. to me what i've seen so far is frankly "missing" the point. it is fiddling and i don't think it will really change the fundamental business practices of these companies that rely on this in their revenue. collecting data, selling it to others. that is the entire business. plus the other worrying thing about it, you have these companies that dominate sectors so very much. there is not enough competition. the answer is not just the kind of top-down regulation we're seeing but more fundamental structural change in those markets. so you get more competition. then you can have services that actually offer people the kind of benefits they get from facebook and others at the moment, without the kind of

revenue model that relies on selling their data. i think when you have got the eu doing it, the federal government is bound to be a disaster. it is too micromanaged, it will end up suiting those big companies who can cope with the new regulation, but not really going to help consumers. stuart: got it. steve hilton, always a pleasure. come see us real soon, please. >> see you, stuart. stuart: yes, sir. by the way, lisa booth, she says, she is with us, she says the migrant caravan is a political exist to president trump. she will make the case on the show today. check that big board. we're holding on to a 200 point gain, just. 24,700 is where we are. more "varney" after this. ♪

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stuart: american airlines profit was cut in half by higher fuel costs. nonetheless, the tock is up 5 1/2%. go figure. dunkin' brand, okay? strong profits, iced coffee, frozen beverages, breakfast sandwiches all doing very well. the stock is up 30 cents. go figure. new survey from piper jaffray found teens spend more time watching streaming video than regular cable. they're killing us. susan li, what is the response to media companies, to the mass shift to streaming? >> i don't think it's a surprise teenagers are watching less and less cable. they're cutting the chord. piper jaffray did this study, they're watching 16% less cable the last three years. they have been migrating to

netflix. netflix accounts for over 37% of teenage viewing habits. youtube has been picking up as well. they have over 30%, 33% just to be exact over the past three years. stuart: that's huge. >> a big bump, right? what are traditional cable companies, comcast, disney, they're spending a lot on streaming. they're getting into the streaming services, the on demand. in order to do that they have been raising a lot of debt. let me show you the debt levels. we have the 100 billion-dollar debt club. comcast reported, beat the bottom line. they are spending a ton. they bought up sky. that is a 40 billion-dollar transaction that they are in firmly in the 100 billion-dollar debt club. at&t, is highly indebted, spending on content. verizon the same thing. you want to get eyeballs. that is a shift away. what about disney?

which will report, owner of the new fox, disney not insignificant debt levels at $70 billion but less than what you saw from comcast and co. netflix raising $2 billion to add to the 8 billion long-term debt they have on the books already. stuart: those companies you put on the screen have each debt of $100 billion? >> yes. stuart: that is astounding. really is. susan, thank you for joining us as always. tesla, after the posting, it made a profit, that is the news, it is the headline. stock is up 16 bucks at 305. can they keep it up, the profitability? our next guest is not so sure. he will join us in a moment. next hour we hear republicans are closing the gap. a blue wave is becoming less likely. i want more evidence. i will talk to rnc kayleigh mcenany. what evidence does she have it

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♪ stuart: when i first heard this i was living in east africa, 1967. i couldn't believe they came out with an album like this. ashley: i couldn't believe you heard it out there. stuart: they came out with it locally. not just the music, you like this, market rally, it's a comeback from yesterday's 600 point decline. ashley: almost cut it in half. stuart: we cut it in half. we're up 280. 24,800. we're almost exactly 2,000 points below the all-time record high. look at netflix, yes it is

up deniesly so, 3% higher. it was down yesterday, big-time down. that was during the selloff and before they reported their results. that is interesting. down yesterday, bounces after the results. look at amazon, they will announce their results after the bell today. should you buy it now and look for a pop this afternoon? why don't we ask john layfield, fox news contributor. john, would you do that, would you buy amazon right now, expecting a pop this afternoon? >> i think it is safe to buy right now, especially holding it long term. i owned it for a long time. i have a great profit. i'm not buying anymore but certainly not selling amazon. biggest thing out of the earnings, amazon reports $55 billion of revenue for the quarter. that is up 27% year-over-year if they hit the mark. that is incredible for a company valued at $811 billion. what the thing they will look at the most is the cloud. the cloud is supposed to grow at

49%. if that hits, then this stock probably takes off from here. stuart: amazing company, isn't it. it has taken quite a hit. it was over $2,000. sinks back to 1600 yesterday. just an extraordinary company. do you think, that yesterday's low, about 1680, i think it was, was that, a low, a buying point? >> i am not sure. i think it could be. i think markets will have a lot more volatility going forward. oil prices down 10% since khashoggi disappeared because the saudis and turks want to play ball now because they're worried about sanctions. it works towards the overall market volatility. i think you can get amazon at better deal. the biggest thing with amazon, what they're doing politically. six months ago jeff bezos was pariah to liberals and conservatives. comes out with $15 minimum wage.

negateing bezos act by bernie sanders. no more talk about postal rates, no more talk about monopolies, i think that is the biggest thing jeff bezos has done for this company. stuart: good information. tell me about google. they report profits late this afternoon after the closing bell. what have you got on google, john? >> talk about a monopoly. google is the one that people can go after i hope they don't because it provides valuable service to the world. google has fastest lines layed under the ocean. they have been the train they're becoming the train track as well. they want to own the entire ecosystem. it is almost 100% about the cloud. we know search results will be good. it is what they're doing with the cloud. they're in an incredible battle with amazon. the only black cloud with google is regulation. that is only thing that could stop google. stuart: bottom line, we have terrific result from microsoft

yesterday. reading between the lines, you're seeing something similar for amazon and google today. can i sum it up like that, john? >> absolutely. the stocks that led rally are still stocks to buy. facebook is biggest dip. trading at 150 bucks right now. there are big buys out there. stuart: john, thank you very much indeed. by the way fox business will have extensive coverage of amazon and google when they report profits on "after the bell," 4:00 eastern time this afternoon. fox business. blowout profit report from tesla. they made money. that is a blowout in itself, isn't it? charlie grant is with us. he is "the wall street journal" heard on the street columnist. thank you for being on the program. >> thanks for having me. stuart: first time on the show. >> yes. stuart: watch out. >> i'm nervous. stuart: come on. tesla make as profit first time in years. can they keep it up? >> i think they can continue to

make some profits. i worry this quarter is as good as it gets for them. 2.90 a share. good if they keep that up for a long time. some bears and myself we'll see how the road gets much tougher for them. we'll see how that shakes out. stuart: why is it much tougher. they produce the model 3. factory is in line. >> a few hiccups gotten past that a few macro issues are starting to reverse. federal tax credit, buyers get 7500-dollar rebate in the u.s. that expiring at end. year for tesla. stuart: for everybody? >> just not tesla. they hit the sales threshold. stuart: just for tesla? >> tesla and gm about to hit it. buyers only get $3750 rebate for two quarters. then it is set to go away. the law can change. meantime demand is going to probably take a hit. we have to see. average selling price will start to come down a bit on some of

these cars. tesla introduced a cheaper car. still pretty expensive. they have been selling 60,000-dollar model 3s. they used a 45,000-dollar version. stuart: go on. more negatives. >> tesla will start expanding into europe and asia a bit more aggressively. that's great. some of the macrofactors hit more established automakers, strong dollar is not a problem with tesla when you're selling in the bay area, starts to get more problematic when you start selling model 3 overseas in europe. we'll see. stuart: there are headwind coming up? there are problems down the road? >> that's right. that's right. stuart: tell me about the quality here. anybody i ever met who either owns or drive as test lashes first on is out, they love those things. i never met anybody that owns an drive as model 3. i have seen the reviews. they like them.

the quality is really stellar, isn't it? >> people love the cars. that is the strongest thing tesla has going for them. the trouble they have been selling to the ev enthusiast community, right? start in california which makes perfect business sense. selling to people who have two cars, three cars, can afford a 100,000-dollar, 70,000-dollar car. when you start to expand you get into john q. public. the early adopter audience loves the tech, loves the way it drives. they can handle the trip to the service center. they have other cars. mass market is much less forgiving. you have to produce like honda or toyota. even quality, must be even. reliability, "consumer reports" downgraded tesla's reliability yesterday afternoon. stuart: i didn't know that. >> it was lost in the headlines and it should be, the headline should be they made money. cars are long duration assets. you need guarranty of reliability, if you're going to

be selling to the toyota corolla set. stuart: if i put you down as a long-term tesla skeptic? >> that's correct. stuart: got it. >> that's correct. that's correct. yes, earnings surprised yesterday. they were much better. i thought they could eke out a profit maybe. i didn't expect 2.90 a share. i don't think most people did. that is why the stock is up. it is starting to sell off intraday. some of the questions i have are some of the questions the market has. stuart: see what you have done to tesla? that was a fine first performance. >> thanks for having me. stuart: if you're not careful, you will be back. >> oh that's a big problem, thank you for joining us. appreciate it. twitter pushing more of those what they call fake accounts. they're getting rid of them. ashley: they're calling them spamian. suspicious accounts. they are getting rid of bots, automatic generated for people that target people on twitter. getting rid on all of that. that has taken away a lot of accounts. if you look at the monthly active users, stu, around the

world, down four million year-over-year. nine million from just the last quarter. you would think that would be negative on a business model that relies on users. no, the market likes this. their revenue is up 29%. came in at 758 million. much of the revenue is generated by ads which is the meat and potatoes what they do. overall, positive report for twitter. getting rid of all the rubbish accounts while generating impressive revenue. stuart: fascinating. it is. you lose nine million losers and your stock goes up. ashley: those users are not really users. stuart: purge the fake, you're looking good. thanks, ash. ashley: sure. stuart: coming up we stay on the suspicious devices sent to prominent democrats. democrats leaders blame trump. i'm wondering can anything good come out of all of this? bret baier will be with us next hour. lisa booth says that migrant caravan, both of them, by the way, going to be a political gift to president trump. she will make her case next.

♪

♪ ashley: fbn's maria bartiromo sat down with larry ellison of

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stuart: take this two different ways. you can say we have a nice rally here. we're up 300 points. or you could say we cut yesterday's decline in half. ashley: i'll say we are up 300. stuart: i think you should leave it at that. one 1/4% up. 310 points. we're close to getting back to 24,900. look at interactive, i'm sorry, take-two interactive company. they have a new game. called "readied redemption." western themed game. has great reviews. looks like a hit. goes on sale.

take two shares popping up almost 9%. those suspicious packages sent to democrats, cnn, robert de niro's restaurant and now former vice president joe biden. listen to what white house press secretary sarah sanders said after democrats blamed mr. trump. roll tape. >> there's a big difference between comments made and actions taken. the president is certainly not responsible for sending suspicious packages to someone no more than bernie sanders was responsible for supporter of his shooting up a republican baseball field practice last year. stuart: come in lisa booth. position news contributor. our guest this morning here in new york. welcome to the show. >> hi, stuart, how are you? stuart: i was appalled, quite frankly, mr. trump went out there and called for unity and democrats promptly say you're to blame, and it is getting worse. i'm appalled at this? >> heightened rhetoric all

around. a point of frustration for a lot of people on the right, we've seen a series of violence towards republicans with steve scalise being on receiving end of bullets. we've seen recently, the other week, two republicans in minnesota who were attacked, yet we have seen essentially zero condemnation from the left or the media? there is a point of frustration. i think we should do as a country universally condemn the type of behavior. condemn the packages. susan collins was on receiving end of a package that was perceived to have poison. we should universally condemn these things. people are taking opportunity to lay it at the feet of president trump. the statement president trump put put out was incredibly disinagainous, the package was sent to john brennan, individuals on the left, not the media. they are saying this is anti-media thing, it all lays at feet of president trump. stuart: we missed the moment. there was a moment yesterday,

when the news was breaking, we realized we crossed a line here, bombs to former president. you crossed a line. that was a moment we could have said, back off, enough. back off everybody. >> we're in terrifying times universally, when people on the left and right receiving suspicious packages directed to scare or potentially harm. that is dangerous place to be in a country. everyone should dial it back these types of activities. stuart: well-said. i read your piece on foxnews.com. >> what did you think? stuart: my grand caravan is a political give to trump. >> gift. stuart: gift, i'm sorry, thank you very much. i can't read. it is a political gift to trump. >> i can't either sometimes. stuart: make your case. >> immigration is a number one issue for republican voters if you look at some polling. so this galvanizes those on the right, on an issue they very much care about. look at the left they have essentially been silent and

avoiding issue of immigration. center for american progress which is a left-wing think tank that has put out a memo to democrats, including democrats in competitive races, basically advising them to stay away from the issue of immigration, specifically stating that sanctuary city attacks pack a punch. then you also look at this caravan, where have democrat leaders been? nancy pelosi, chuck schumer, nobody wants to talk about issue of immigration. they realize this is a loser. this puts it in the national spotlight forcing a conversation around immigration, porous borders and our laws clearly being exploited by these individuals. stuart: the democrats thought over the summer that the family separation at the border was a winning political issue for them in november. i think that has been completely reversed because now we see, i'm going to use the word invasion. that is what it is, and people don't want that. >> i think that is perfectly fair. i would also say president trump changed the game in discussing

immigration, immigration used to be a losing issue for republicans and what president trump has done look to the issue of immigration where i think the majority of the country is, from lawlessness perspective, a law and order perspective, that is where president trump hits issue. he was a candidate ran for the 2016 election. he said i am the law and order candidate. that is what his presidency in part was centered around. i think americans pick up on that, appreciate that. when you see the visual of thousands of people heading to the country with the intention to exploit our laws which need fixing, in terms of anti, anti-human trafficking law in 2008, also consent, florida's consent decree. what you see is porous borders. you also see the individuals basically breaking down the gates into mexico. it underscores president trump's call for increased border security as well as a wall. stuart: i really like your sharp-edged opinions, spoken eloquently on this program. >> sometimes more eloquently

than others. we all get tongue-tied at times. stuart: you're pretty good actually. thank you, lisa. >> thank you. stuart: thousands of arrests on our southern border just in the past few months. fox news's martha maccallum, she is on the border in arizona. she will be with us shortly. she will tell us exactly what she is seeing down there. check the big board. we were back up a little. now we're up 270. we'll take it. more "varney" after this. ♪

stuart: thousands of people have been arrested in the past few months trying to cross illegally into america from mexico. joining us now on the phone, from arizona, martha maccallum, host of "the story with martha maccallum." take us through it, please. what are you seeing on the border now? >> thank you, stuart. good to talk to you this morning. we're en route between phoenix and yuma. we're on our way to the border where we will interview homeland security secretary kirstjen nielsen, to talk about what is happening on the border since the spring where they implemented zero tolerance

policy, which got a lot of backlash and motivations for it were obviously to clamp down on people crossing the border illegally. but at this point, the scenario that they're most witnessing and that we're going down there to kind of learn more about, see up close, is that people are crossing, crossing with a child. because now, the catch-and-release is back in action, and they know that if they have a child with them, they can cross the border. so that is one of the biggest concerns, of the homeland security secretary, that they need to identify whether or not some of these people are trafficking, whether or not bringing children that are indeed theirs, which in some cases this is happening. it leads to tremendous amount of confusion, potential danger for these families as they try to cross the border. stuart: we're also told, martha, this catch-and-release, which has come back again, we don't have places to hold people flooding across the border. many are wandering around the border towns like el paso, like

yuma. maybe you will be seeing that when we get there. i'm told there is really big problem, there are thousands of people just wandering around. >> that is exactly right and i was hearing a bit about that from person in authority in arizona yesterday who was saying that they are hearing and, we will dig into this to see if it is true, that there are certain organizations basically sheltering some of those individual who have crossed the border so they have a place to stay in these weeks leading up to the election which is very controversial. so all of this visually is very useful to both sides of the political fence as they try to discuss this whole issue of the border. but it may be that there is an effort underway to kind of clean things up at the moment. so we're going to find out what we can find out about that. stuart: martha, we'll be watching tonight. because we're all intrigued, exactly what is going on at the border. i'm sure you're doing to tell

us. >> absolutely. stuart: martha maccallum. we'll see you then. >> see you then. stuart: now this, white house counsel of economic advisors out with a report on the perils of socialism, comparing bernie sanders to mao tse-tung of china. really? kevin hassett wrote it. he will be with me next hour. more "varney" a moment. you'll only pay $4.95. fidelity. open an account today. the .. here.

we perform over 50,000 operations a year in places like this. for the past 15 years, chubb has identified ways that we can strengthen

our safety measures. and today, our hospitals have some of the best patient safety records in the country. now, we're constructing new buildings that will define the future of piedmont and chubb is here, insuring our expansion. two million patients a year depend on us. and we depend on chubb. stuart: good morning, everyone. here's a cabinet first-year money. tomorrow morning what kind of economic growth were enjoyed in the july through september period. we were told it's in the high 3% range. senator john kennedy on this program earlier said he remembers when the economy grew at a 120% rate and make him a three toga party. 3% i am told is a very big deal. more on that coming for you. a little noticed indicator, the firing rate from a layoff rate at a generational low. everybody wants to hire.

nobody wants to fire. job openings at an all-time high. 7.1 million. just not enough workers to fill those jobs. it is called a booming economy or look at the market despite the selloff's profits in the s&p 500 up a whopping 25.4% compared to last year. tax cuts have kicked in. business is taking off. technology coming on strong again. twitter took in more money and it made more money. it were soft, firing on all cylinders. giant business expanding stacks up. tesla made its first profit in years, making and selling the model three at long last in that stock is also straight up. there are some trouble spots. investors are wary charm are so strong they peaked. nowhere to go from here. concerning italy's debt could ripple into markets around the world including here.

china may be retaliating for hardline in the trade war. they didn't show up of buyers is treasury auctions. a flight to safety didn't amount to very much because china was not dying art that. in a moment we'll talk to kevin hassett, chair of the president's council of economic advisers. "varney & company" starts right now. ♪ stuart: back to the market for a start. 288 points is much better than 1%. most of the dow 30 is a rally after yesterday's big selloff. back to the economy, bring in white house counsel economic advisors committee chaired directors kevin hassett. welcome back. good to see you again. i'm not an academic.

we get the first reading of third-quarter gdp, economic growth. first reading to her morning. looks like it's going to be in the 3% range. we talked about this before. it's disappointing. tell me why it's not disappointing. >> remember in 2016 economic growth is at 1.6% and everyone told us we are going to grow around forever. i haven't seen the numbers yet for tomorrow so i can talk about it. our internal modeling about 3.5, but it could be north of four. but that's more than double the growth rate president trump inherited. stuart: but we were told when we get the tax cuts and tax cuts in wake of the tax cuts would be looking up 4% and 5% growth. >> no, we were told we would get 3% growth. assume the tax cuts last year then we averaged 3.1 or three over the next 10 years.

more importantly capital spending with them by going up 10% this year because of the tax cuts, capital spending limit 10%. in the third quarter it's going to be 10% as well. a sustained boom and that gives you sustained growth because they will start producing output in q4 and q1 of next year. stuart: i want to talk to you about the theory behind the scenes here that china is now biting our dad any longer and that is a form of retaliation for terrorist. your reaction to that. >> of course we hoped president trump made a pitch each one in research and make a lot of progress in that relationship. the u.s. debt market is this really big thing with lots of layers. a little bit of academic work on whether black sales are black purchases have effects on prices and it doesn't mean they do. somebody coming in and out of

the market is pretty hard to make a difference by putting the. i don't think it's a thing that the concern. stuart: your department released a report on socialism. you compared bernie sanders to chairman mao. do you want to expand on that, sir? >> basically we had a bunch of economists come in because people take a year asleep in one of the problems they saw in the classroom is all these people call themselves socialist don't understand the socialism is. what we did is wrote a report about socialism and compared ourselves to the nordic countries and so on and we found basically there's not a very positive history of socialism if we were to adopt the typical policies of the 1970s nordic countries for example we estimate the gdp would drop by 20%. the bottom line is people who have object is of having a more fair society should probably find a different name because it is so bad.

we have 70 pages about for the viewers who want to get into that. stuart: i could've written a couple of pages because they think of myself as a refugee from socialism. bring me on board next time. i don't mind working for the government every now and again. >> lots of interesting facts if you take a scandinavian person and move them to the u.s., the income goes up by 50% compared to the average income in scandinavia. all these people saying we should copy the policies of scandinavia and what we do is expose hypotheses like back to the data. like nowhere in the paper anywhere is there the word democrat. it's not a partisan piece. it's a piece about the history of socialism. stuart: or be very partisan if i were you with that. kevin hassett, always a pleasure. first of all, tesla a pretty big today. look at that $19 higher. explains 7%. he did report its first profit

in many years. they're also making and selling a lot of those model threes. the technology editor of marketwatch jeremy owens is with us. jeremy is the guy who says elon musk is a. i'll let that comment just sit there for a second, jeremy. can tesla keep up the profitability? >> is certainly seems like it would keep up through the end of this year. that's going to be the test is that this demand was third next year. we had problems with getting we have to see that. they have long had a problem living up to these types of deadlines.

stuart: it occurs to me the skeptics like yourself and others who'd been in the program has been overwhelmed by people who see a great future for tesla. >> sure, sure. there is a potential great future of elon musk doesn't get in the way. i was on here less than three months ago telling you, last night conference calls for tesla. elon seem to have learned a lesson. less than a week later was the 426 year for me, which is a crazy male charm. we have to see if elon has turned a corner this time again and see if he is going to get out of the way and let tesla get there. stuart: can you talk to me about twitter? why is the stock of big today when they are sending their purged millions of these fake accounts? average monthly users in monthly users down by millions and yet the stock is up. explain it. >> revenue beat incredibly by $50 million i remember

correctly. what twitter has to do now because they are going to have trouble getting month of active users, one thing is daily active users rose by 9% and the thing there is find power users and that's why they've been able to raise the revenue even as they've had trouble attracting more users is because they get more revenue out of the users using them a lot. they're trying to make sure that the users they do have they make more money out of. if they can do that, then the user growth issue is not as much of an issue when you look at the top and bottom lines. stuart: got it. jeremy, thank you are a match. i'm sure we'll see you again soon. a lot of other companies reporting profits today. first of all, ford motor company, whirlpool, visa, mark, the big loser here is america not because their guidance looking forward not very positive. amazon and also that report their profits that the prayers

of trading today about 4:00 eastern time. in advance of the official numbers, look at them go. amazon at $76 in alphabet google of $35. big gains there. politics after several suspicious packages were discovered at the homes and offices of leading democrats, president trump is calling for unity, stability, peace. i say we've crossed the line and this has to be a turning point. is it a turning point? i'll ask fox news bret baier about that in a moment. the caravan headed for southern border. "the wall street journal" calls the caravan this election's october surprise and it's bad for democrats. has he been watching "varney"? he makes his case this hour. president trump will deliver speech on his way to lower drug traces for people on medicare. remember this is when the president comes campaign promises. he addresses it today. 12 days from the midterms.

may not be a blue wave after all. rnc spokesperson kayleigh mcenany showing signs that they will prevail in november. the third hour of "varney & company" is rolling along. ♪ thanks, bye. that's what's important to us. it's why 7 million investors work with edward jones.

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oh, and happy birthday... or retirement... in advance. stuart: goober is offering for the midterms are $10 off a right to a polling location on election day. uber is partnering with get out the vote organizations to provide discount rate that in certain communities across the country. the latest on the suspicious packages. officials are investigating at least 10 possible bombs. today, 30 sun to packages addressed to former vice president biden in delaware in another addressed or resident

owned by robert deniro. listen to what hillary clinton said yesterday about these incidents. >> at the time of deep divisions we have to do everything we can to bring our country together. stuart: have got to say there was a change of tune from russia said a couple weeks ago. roll that tape. >> you cannot be civil with a political party that wants to destroy which is m4, which you care about. that's why i believe if you are fortunate enough to win back the house and/or the senate, that's incivility can start again. stuart: resident is calling for unity. roll that tape. >> any political violence are an attack on our democracy itself.

we want all sides to come together with peace and harmony. we can do it. stuart: spokesperson for the republican national committee, kayleigh mcenany with us now. we've heard some democrats, many democrats in the media say its trumps all. your response. >> that is abhorrent. on one hand you have president trump calling for unity. the media, the left could learn from that. instead can the cnn puts out a not just blaming president trump of sarah sanderson of the the greatest human beings on earth. despicable, they should take it back and be ashamed of themselves. stuart: they could've stepped back of the country and fellow president trump and say we want unity. knock it off the side. unity, peace and harmony. but we didn't. we missed the moment. >> exactly. this is a moment to come together, stand against violence, should've been very simple to do but john brennan and cnn made that impossible.

stuart: john brennan said this morning, absolutely outrageous, said he was disgraceful. out of sight. i'm going to move on you'll be pleased to hear. we are hearing lately that there may not be a blue wave in the midterms. we had a pollster on the show yesterday who said republicans may actually keep the house. you're nodding your head you're going to agree. you show me some evidence that you got that the gop will keep the house. >> number one, spending. by barbara comstock in virginia or donna florida and salazar is winning a district hillary carried. when it is indicative of for the democrats are in their afraid. i will also share with you i just got done talking with two campaigns. john jameson michigan, newport detroit free press within seven points striking distance reflecting what the campaign is seen internally. within two points in new jersey.

that's big. stuart: john james running for the senate in michigan i believe. he's seven points behind. that doesn't look great to me. >> in michigan that's a big deal when we're closing in michigan and new jersey to be down by two. west virginia looked like joe manchin was okay until the polls cannot yesterday and shut him down by two. we've are deadlocked on a republican seats in the senate i believe. we are making headway where we can be 55 seat majority in the senate, six to six maybe. stuart: wishful's thinking. you are the rnc spokesperson. an aqueduct of the goodnight. history is against us. there's no denying there's a tailwind behind the republican party right now. i'm not going to deny it. kelly, thank you for joining us as always. you didn't win the mega williams. but there's still a chance to win big. no one won last night's powerball and not push the jack out to 750 million. your next chance to win a

saturday. you know i don't approve of lotteries. the classic way to tax the poor. we suggest dumbness program at christmas. roll that tape. >> you know what, you must be fun of christmas. you kill joy. stuart: i miss that. i'm a joiner christmas. that's what i said and ibm. >> when you put under the christmas tree, lessons in life? stuart: gifts. i don't give junk. when my children were younger with mounds of plastic nonsense that was there. you're with me on this spirit i know you are. ashley: you mean like train tracks to come play with? stuart: a huge mansion once owned by late billionaire aide gerald previn geo. i'm reading this for the first time, is not the most exposed to oversell the country. the bel air section of los angeles. take a wild guess how much it is going for. sure looks nice.

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stuart: i'm calling this a popular moment to go up 200. now we're up 371. that is 1.5%. check this out. the most expensive in the whole country is a mansion in bel air, california. $245 million once owned by the late ilya nair a gerald potvin g zero. 25,000 square feet, 75 says to mabel, tennis court, 12,000 bottle wine cellar, covered parking lot for a mere 40 cars. $245 million to scientists discovered what this is the world's oldest intech shipwreck found at the bottom of the black sea off the coast of bulgaria 400 b.c. partially buried more than a mile below the surface, water that deep is mostly free of oxygen and that allows it to stay and remain intact. massive release in the picture taken by the parkers solar probe when it was 27 million miles away for our planet. i don't see it frankly.

that spacecraft is on a journey to the sun. it will fly through the outermost part of the sun's atmosphere. some individuals talks. advisor, the parent cutting the dividend in half. they continue to drop in that stock is down 11%. luxury brand coach, the latest company to go for free. if all is burberry, for saatchi, gucci, hugo boss and making a pledge. to the caravan, and headed for southern border, fox news now reporting at least 800 active-duty troops are part of the initial force is heading to the southern border. next, "wall street journal" dan hemminger calls the caravan this election's october surprise. look at that market. i believe this is the height of the date of 379 points. money in politics, that's what we do. more of it after this.

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high of the day up nearly 400 points. now this. fox news report now headed for the southern border. engineers, doctors and lawyers therefore logistical support of the migrant caravan as it continues to have its way here. the next guest says the caravan, this election's october surprise in that, he says his dad news for democrats. it's thursday. dan hemminger with "the wall street journal." make your case that this is not over surprise and bad for democrats. >> welcome on october surprise in the event that sometimes events happen and not sober but affect the outcome of elections there goes all the way back to richard nixon. now i've got this caravan appearing in october. what i'm arguing is in the last two the american people have focused on two massive event.

a september surprise was the kavanaugh hearing in the battle between brett kavanaugh and christine ford. the democrats thought they were going to sister ellen going to sister ellen a republicans for women. it backfired. indian people looked at it and says due process still matters. now we have this caravan and the idea was last july at the family separation problem in texas. trump took a lot of criticism for that. the democrats figure immigration that that issue for trump and the republican. people have been watching this caravan for a week. 7000 people and i think most voters were out there saying what are we expected to do when these people arrived inside the texas border. you look at the democrats and say they've been proposing to things on immigration. sanctuary cities and abolishing i.c.e., which is less than nothing in dealing with a problem like this.

i think among independent voters the october surprise that this massive caravan is beginning to move people over in the republican direction because the democrats both on kavanaugh and on immigration are proposing basically unsupportable positions. stuart: that caravan, there is video. you can see with your own eyes. you can see it is not mostly women and children. it is mostly young men. teens, twentysomethings, able-bodied guys marching by the thousands into america. you can see it. >> democratic trends say what are we supposed to do about all this? troops are being sent down there. but we learned in july during the family separation is with all the best effort in the world, the federal bureaucracies cannot handle process of a problem of this magnitude. we just can't. that's not a solution. nobody has a solution to 7000 people showing up in texas

insane were here. most of the american people understand it. stuart: it's pretty obvious that a trend in the world today is the mass migration of people. happen in europe in 2015. central america looks like it's emptying out the come here. >> another caravan foreman in guatemala behind this one. if this one were leading, more would come. president trump has said one thing that is absolutely right. our immigration laws are a disgrace in this is a bipartisan disgrace because accurately as to the 1980s. the status quo simply is unsustainable. stuart: a bad mistake for the democrats to do nothing but invite them in. that's a classic mistake. america won't stand for that. >> appear in a tight race like claire mccaskill of missouri or joe donnelly are looking up is going this is the last thing we need right now. stuart: why did we organize this? great stuff. thank you indeed, sir. i want to go back to the subject

we did cover earlier, but this is worthy of mention. new york state is suing exxonmobil, claiming that the company misled investors about the risk of climate change. he's back. judge napolitano. bogus come a money grab, politicized, outrageous. >> absolutely. a highly inappropriate use of government assets. taxpayer dollars will be used to shake down exxonmobil because then make a business decision. if they want to spend 200 million in legal fees litigating this over the next five years or give them only 100 million. i'm making up these numbers but their real estate. want to give them 100 million now to get them to go away to save 100 million. they'll make a business decision. stuart: if they're bringing this lawsuit under the terms of the sec, securities exchange commission rules or regulation

loss, why doesn't the judge on the case there without because it's bogus. >> exxonmobil asked the judge to do that before they settle it. they don't know. it really is highly frivolous and very, very novel. exxonmobil owns much real estate and in that real estate is natural gas and some of that natural gas can be used in some of it can be used and exxonmobil is now accused of purposely underestimating the value of the natural gas that can't be used so as to deceive investors. it is so obscure. i'm sure you'd have a great difficulty getting its arms around this. it's so obscure that the sec has not done this. if the attorney general of the state of new york was also in the next case. the pharmaceutical company, and

the family make oxycontin. the family is being sued over their role in the opioid epidemic. the family, individual members by name are being sued. he meant the same attorney general of the state of new york written the same lawsuit this time into with a large plaintiff's law firm. stuart: this is outrageous to >> ruinous litigation out of long island where the family doesn't have, or oxycontin isn't made them aware pharmaceuticals are located. >> sorry to interrupt you, judge. i know you're in full flight. the limited liability laws when you form a corporation, which shields individual shareholders from the actions. >> one of the largest are companies that has 20 shareholders and they're all related. it is a classic, closely held corporation. the purpose of the corporation for the beginning of corporation law is to shield personal assets.

they go after the corporation as they want and say you overmarketed oxycontin. you made it too strong. that's a frivolous argument that they can make it. go after the shareholders and say you earn too much money from your shares is absolutely unprecedented, novel and began frivolous. stuart: and should be thrown out. >> and brought by the same office that brought the case against exxonmobil a few minutes ago. it will be. i'm so used to this in new york. >> was talking to danny about this before. she's not running for reelection. her job ends in january. i don't know why she's doing this. more on this i'm sure. snapchat says 400,000 users registered to vote using the app. snapchat voter registration just last month has sent mass videos urging them to register 400,000

dead. stuart: 18 to 24 years old. pretty impressive. stuart: mcdonald's come away for a comment that if the new breakfast sandwich. first one of five years of the triple breakfast at. two slices of cheese, two sausage patties, bacon and eggs. look at tobacco company they make marlboro. reported higher sales. the stock is down a fraction. american airlines with higher fuel costs cut their profits and have in the stock is up 7%. look at comcast. more customers for the high-speed internet service. up 4%. i want to get back to the suspicious packages sent to democrats. looks to me like a big shift. looks like we have crossed a line.

could it be also a turning point? could something good come out of this? bret baier next. before we go, want to point out the rally high of the day almost up 1.5%. we were down 600 yesterday. we'll be back.

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stuart: let me guess, sometimes at $6300 a coin. 6391. the mccaskill is about $1200 an ounce. yes it is, 12.32. the price of oil about 66, $67 a barrel. 6732, got it right again for the price of gas is coming down ever so gradually add 284. want to get back to those suspicious packages sent to prominent democrats.

seems to me this is a shift in our toxic politics. it seems to me that we've crossed the line. joining us now a special report post bret baier. could this be a turning point? could we as a country step back because of this and could something good come out of it? >> stuart, possible. clearly the rhetoric has gotten to a point that is at fever pitch on both sides as we are closing in on the midterm elections. this could be a bit of a wake-up call. we don't know what we don't know yet. there's a lot to this investigation that's going to play out in the next couple of days and it may get to who this person is and what the motivation was. were just very fortunate none of those packages detonated good people we talked to say they were designed for fear and you know, what that does in the overall culture i think is going to really be determined the next couple days.

stuart: do you agree that we crossed the line? that's a line crossed. >> sure, yes. i think we have crossed a number of lines over the past, you know, months in a different era now where people talk to each other and add each other in social media, i mean, a lot of lines have been crossed. but you ripen some packages with devices are sent to different people, that's a different animal. race in letters and thinks it to be write some letters have been sent prior to that to republicans. you obviously have the shooting on the baseball field where steve scalise was hit. but across the line, too. stuart: your classic journalist write down the middle. i'm an opinion guy. this is an opinion show. my opinion is president trump issued a call for unity yesterday and it was not joined

by nancy pelosi and senator schumer. they immediately turned away and blamed president trump. i was very disappointed by that. without expressing an opinion, where you stand? >> that's accurate to say that they came out after the president made his statement in the east room of the white house from the minority leaders in the house and senate is that his comments ring hollow based on what he said previously in rallies about throwing people down there punching them in the face or whatever he said of rallies. there is a sense that the unity issue and bees devil is going to be a lot tougher to get to the neither side imagines i think. right now a lot of people are pointing to president trump for setting this political environment, but clearly there's the last and what we've seen happen to people at diners and restaurants in all kinds of things. stuart: just work it through for me. can you fast forward two things getting dinner? could you be after the elections come after all of this that

we've seen? families are split quite frankly. >> i travel around, talk to voters they are split. the outrage meter is always at 11. it's in part the culture in which were covering this administration, this president that's a lot different. both sites could stand to turn it down a couple notches. stuart: real fast, what do you make of the blue wave? we were told here it comes coming here comes the now backing away from it a little bit. >> they're being cautious because a lot of races are tight. the house races that matter about 60, 70 of them. these polls could turn on a moment. i will say this is bombing, these packages being sent in the coverage of it may have blunted some of the momentum republicans have on the number of friends which is the kavanaugh in the caravan in the news cycle trump

is dominating. even just one day this close to the midterms does have an effect that will see how it plays out. stuart: we're having turkey at my house for thanksgiving lunch. if you care to partake, i would welcome your company because i know your object to them straight down the middle and you never get mad. we watch you every night. thanks for being with us today, bret baier. yes, sir. individuals docs, and how about dunkin brands. strong profits reported the stocks of 2%. iced coffee, frozen beverages, breakfast sandwiches all selling well. stocks. hershey plans to start charging more for chocolate because lower prices and higher cost chipped away at their bottom line. the stock down 5%. they're going to charge more. president trump will deliver a speech this afternoon on its plan to lower drug prices for people on medicare. i want to know how that plan is going to work. what is the plan? where on it. we'll deal with it next.

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stuart: president trump will deliver an important speech this afternoon about his plan to

lower drug prices for people on medicare. author betsy mccoy with us now. >> stop the foreign freeloading. americans consume 46% of patented drugs. 70% of the profit in the foreign government and barely covers the marginal cost of the next bill. none of the r&d behind the new drug. stuart: so what the plan? how does the plan work that we pay the same as then. >> over five years pharmaceutical companies will be required to her charging americans the same average price as their charging foreign government. at the beginning this is only going to apply to drugs provided in your doctors office like certain oncology drugs or at a

hospital pharmacy. now when you go to the drugstore until a prescription. this is supposed to have the effect of incentivizing drug companies to drive a harder bargain with these overseas buyers. it's not so much that they're going to charge charge americans less. they're going to charge those folks more. don't forget the democrats want to put price controls on drugs. that would be very bad news. if you have a child with an incurable illness the research comes to a halt and you have no hope. a much better way to get the foreign government to pay a fair share of the research. >> the discount foreigners receive his going away. >> america first in the drug war. stuart: of the president has the power to do that. does the new congress to legislate? >> i don't believe so. he's announcing at 2:00 or regulatory proposal that will for the most part achieve this because mr. medicare.

he's been talking about it since the very beginning. he put forward his council of economic advisers from day one of this administration in the right approach as i said, just capping the price is the way the democrats want to do is going to hurt us. but this is going to incentivize the drug companies to demand more from the foreign buyers. ashley: does that reduce the cost for us? >> at will. right now the threat is 44%. you're going to see the two come together somewhere in the middle. trained to look, for years and years and years been a democrat president and a republican president, the name of the game has been can we get the cost of health care down. it never goes down. it always goes out. >> remember the pharmaceuticals also we often pay for it and account for herself. they reduce the overall cost of health care by keeping people out of the hospital and off the

operating table. so don't blame the drugs or the overall cost increases in health care. >> get a handle on health care costs and bring some of them down it will be a huge achievement. >> without penalizing research. stuart: yes, absolutely. i did it. programming notes. alert, tomorrow health and human services secretary alex césar will be on the show. more "varney" after this. ♪

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stuart: okay, we do have a modest rebound underway on the market. we're up 356 points, but,

ashley, let's not forget we were down 600 yesterday. ashley: we were. we were talking about earlier. it wasn't capitulation. there were worries, people pushing the cell button. we're coming back. bear markets, this is it, the end of the bull market. people are starting to jump back in, is it really end of the bull run? it will be volatile. october we know historically is a rough month. living up to the billing. but economy is still good. for those big tech stocks. stuart: look at this. not late. >> 4:00 this afternoon, i would urge you to watch the fox business network because we're going to get the earnings report, from first of all, google. as you walk up to 4:00 eastern, google is up $47 a share at

$1100 a share. look also at amazon. they report at 4:00 this afternoon. right now amazon is up $92 per share, 1756. big stuff coming down the pike at 4:00. watch fox business to catch everything that there is going. connell mcshane in. connell: what time would you like people to watch fox business? 4:00 eastern time. thank you for that, stuart varney. good to see you i'm connell mcshane in for neil. 80% plus of