about impeachment for people and trying to make sense of what's going on out there. so just pay attention and learn for yourself. >> i think it's going to be all about economic data. we have the ism, the jobs number. pay attention to the economy. maria: we will sort it out tomorrow. >> i could stay, by the way. maria: have a great day. stuart begins right now. "varney & company." over to you. stuart: good morning, maria. good morning, everyone. welcome to a refreshed fox business network. right from the get-go i want to say this. our programming is about you, how we cover the events of the day will always be with your interests front and center. we like success, your success, and we will deliver the news as always without fancy jargon, without the back-biting negatives we get from the socialists. notice there's a lot of red, white and blue on your screens. not right now, maybe, but it's deliberate, sports fans. let's get on with it. it's a new week and despite all that's going on in the background, stocks are going to

open up higher, just a little higher, and yes, we are still very close to record highs. the dow is going to be up maybe 15, 20 points. very small gain for the s&p, 11 points up for the nasdaq, but up is the operative word of the day. now look at this. street battles in hong kong. that is the right word to use. water cannon was in use, police pointed their guns. there is a report of a shot fired in the air. china's leader has a growing problem in his own backyard. tomorrow's october 1st. china's big day. the last thing xi jinping wants is more violence in the form of british colony. big protests are planned. we will be looking at the impact of this on china trade and yes, on your money. look at this, too. huge fire at a new billion dollar train station in saudi arabia. that comes on the heels of the attack on the big oil refinery there, and the shooting death of a saudi general who was a

bodyguard to top saudi leaders. plus a reported attack on an american military installation in somalia. you take all of that in the oil patch or close to it, you think it would bring the price of oil up? wrong. it's down 77 cents a barrel, down to $55 as we speak. then there's this. watch out. forever 21 bankrupt. big day. "varney & company" is about to begin. ♪ stuart: there's my picture. on the outside of the building. good vibrations indeed, everybody. nice picture of me, too. we are indeed invested in you,

as you will find out throughout our program and throughout fox business today and every day. this story certainly affects main street, that's you. mainstay forever 21 files for bankruptcy. kristina partsinevelos in the newsroom with the details. what did them in? >> there's definitely a long list. the first is they expanded too quickly, going from seven to over 40 stores in less than six years. they didn't anticipate fashion online, there's competition, then you are showing on the screen now, those are forever 21 in malls and people aren't going to malls as often, too, so that created a decrease in foot traffic. so forever 21 has officially announced that yes, they are filing for chapter 11 bankruptcy. i reached out to the company to get exactly the number of stores. they haven't responded just yet but the "new york times" is reporting they are closing 178 stores, up to 178 in the united states. 350 total. that's a lot of stores.

you think these are massive, massive stores. forever 21 in times square is over 90,000 square feet, four floors. imagine how expensive that rent is. overall, forever 21 epitomizes fast fashion. another trend, too, we are starting to see with a lot of stores is that people are buying consigned goods. it's a retail apocalypse. you are see gap closing 230 stores over the next two years, payless closing over 2,000 stores. just across your screen right now, those are all companies that have filed for bankruptcy. it's happening across the board. stuart: it is. it's changing the face of america. what it looks like and what it feels like is rapidly being changed. kristina, thank you very much. see you later in the show. i've got to get to the violence in hong kong. the violence, it was there. a 17th straight week of protests led to police, as we said, they used water cannon. protesters are setting fire, there's lots of vandalism. look at it right there.

this comes ahead of the 70th anniversary of the founding of the peoples republic of china, october 1st. that's tomorrow. susan, those riots, i will call it what it is, those riots make xi jinping look weak. susan: absolutely. defiant and also resentment over chinese rule, what kind of message does that send just ahead of the october 1st celebrations. we are expected to see 15,000 soldiers, 160 fighter jets roll down the streets of beijing. meantime, hong kong, their financial artery for many, many decades, engulfed in thick clouds of smoke, as you see, tear gas, thousands marching in the streets once again and tens of dozens of arrests. they are saying we are hong kong, not mainland china and this is in the backyard, by the way, of xi jinping, the chinese president, just ahead of a very important celebration. stuart: there are also smaller scale demonstrations, non-violent, in taiwan. susan: that's right. there is a march here in new york city as well.

stuart: that's right. susan: multiple cities around the world. stuart: it's a big deal. i want to bring in andy puzder. welcome back to the show. >> good to be here. stuart: i want you to tell our audience what it means for their money, our money. what's going on in hong kong? >> this shows a lot of strength with president trump and his negotiations on china trade. you will remember, our younger viewers may not, this reminds me of what walesa did in the shipyards in poland when reagan was challenging the soviet union. we now have a president challenging china. china was viewed as this block you just couldn't penetrate. it was a strong economy, it was going to take over the world when he became president. now we are seeing weakness in the economy, seeing weakness in the country politically, seeing these demonstrations in hong kong having an effect on xi jinping as he enters this 70th anniversary. this strengthens our president in negotiating with china, wish congress would stop weakening him. stuart: come back at 9:30. i want you to comment on the

opening of the market. despite all this turmoil we are seeing, political turmoil here and certainly abroad, the markets will open higher this morning. up 20 odd for the dow, up about 15 on the nasdaq. jeff sica joins us this morning. i will put it like this. despite it all, the market is going up. a little bit. it's near record highs. does that surprise you? >> it doesn't surprise me. this is good vibrations or ignorance is bliss, whatever you want to call it. but the bottom line is as long as the china trade talks, the china trade agreement is put out to the future, there will be continued upside in the market. it's when and if this falls apart that the market has trouble. my opinion is that we are in a position, the u.s. is in a position, president trump is in a position to get this through as quickly as he can for the election. china doesn't have that deadline so they can drag their feet as

much as they want and they have been, in order to get what they want. stuart: the other thing going on here, of course, is impeachment. here we are into week two of the impeachment deal and the market is going up. >> i think the market is so used to hearing the word impeachment, i think the market would be more surprised if impeachment wasn't spoken about. i think the market's adapted to it and i think that they are looking at it as something that's far off into the future. i think really as long as impeachment is on the table, it is a distraction but the real issue for the markets is what's going to happen with china. you are talking about the single biggest consumer market in the world, and the market was nervous last week when there were going to be restrictions on chinese companies, on the stock exchange. that was a very nervewracking time at least for me because you don't want the market to be messed with and dragged into this to that extent. stuart: over the weekend, officials, treasury officials did say the administration is not contemplating blocking u.s.

capital going to china at this point. >> that's crucial, because if they did, i think the market would be way down this week. stuart: jeff, thank you very much indeed. good show. now, this is a story of real relevance to countless americans. countless people around the world. myself included. cvs pulling the heartburn drug zantac off the shelves. is this a cancer concern? ashley: it is, the fda saying wait a minute, they believe there's a certain compound mdma contained in zantac that in large amounts is probably cancerous to humans. but i say large amounts. it can be found in other things, too, even water in certain types of meat, but because of this, cvs is no longer selling it. heartburn medications are big, big business, especially in the united states. but cvs says it's not recommending people stop taking the medicines, but they are encouraging them to bring them back for a refund.

stuart: that's going [ inaudible ] a lawsuit. ashley: of course. but it's owned by a subsidiary of novartis, the giant swiss pharmaceutical company. it generates a big amount of sales. interesting to see where this goes. stuart: no significant pullback. none at all, actually. down ten cents on sanofi. ashley: we will see what comes out of it. stuart: check futures again, please. monday morning, second week of the impeachment process, so to speak. we are going tou go up on all three exchanges. the wework drama having a wider impact. how the company's problems are hurting new york city's real estate market. got it for you. scary moment for people on a united airlines flight. find out what caused the plane to shake violently as it headed from denver to orlando. you want to see that? ouch. president trump stepping up his attacks against adam schiff and the democrats, and now the president says he wants to meet

with the whistleblower. eric trump in our studio next. "varney & company" just getting started this monday morning. ♪ ♪♪ ♪♪ ♪♪

stuart: all right. when i sate wy it was a rough ft for some united airlines passengers, i'm not exaggerating. what happened? ashley: denver to orlando, this is not the greatest video, it's a bit picxilated but you are seeing an engine shaking up and down, misfiring. it's not supposed to do that. the plane quickly turned around, landed safely in denver and mechanics say yeah, we had an issue with this. they had to get another plane out. when you see that out the window

that's the stuff of nightmares. stuart: everybody's got a camera these days. anything happens, you've got video of it instantly worldwide. it's tough. it really is. i'm glad we can see it. that's a good thing. let's get serious. the house intelligence committee chair adam schiff says the trump whistleblower will testify soon. roll tape. >> do you expect the testimony of the whistleblower? >> absolutely. >> your committee already has an agreement with the whistleblower that he will testify? >> we have agreement that he or she will testify, yes. stuart: there's a yes. president trump tweeting this, i'm quoting directly, i want to meet not only my accuser who presented second and third-hand information, but also the person who illegally gave this information which was largely incorrect to the whistleblower. was this person spying on the u.s. president? big consequences, exclamation point. look who's here.

eric trump himself. welcome to the program. >> how are you? stuart: i'm very well. remarkably well, actually. your dad's going out there with guns blazing. >> you look at adam schiff, this was the guy, remember the radio guys, funny radio guys who put on the russian accent and pranked him? they called him up and said we have compremat on the president and he said i would very much like to see this, send it over to me. the very thing he's accusing my father of doing is something he was doing three months ago. stuart, here's the deal. these guys cannot win. they know they can't win 2020. i say this every single day. you have biden who talks about 700 million females in this country, you have elizabeth warren who lies about her ancestry. they are not all together, they can't beat him, they know they can't beat him. you have senators and congressmen and everyone else saying the only way to beat trump is actually impeach him. they failed with the russia nonsense. it totally backfired. adam schiff was the guy coming out saying i have all this

inside information and it's going to come out and we totally have trump. he was wrong there. they lied to the american public. they are trying to distract from maybe the greatest market that this country has ever seen in the history of our nation and this is going to backfire on them again and the amount of money we are raising every single day from the campaign is out of control. americans can read through b.s. and that's exactly what they're doing right now. stuart: how much did your dad, didn't you raise $15 million in a few -- >> $15 million in 72 hours, including 50,000 new donors who had never donated to a political campaign ever before. what does that tell you guys? stuart: wait a second. there's another side to this coin. joe biden is going to be investigated. what happened with hunter biden in ukraine. what happened in china. is he a -- bearing in mind his father's vice presidential position? >> can you imagine if that was me or don who took $83,000 from a company in the ukraine to

consult on a subject that we knew absolutely nothing about? could you imagine? how about you want the best guys to run the greatest funds, you know all of them, in the world, they can't get money out of china, yet hunter biden gets a billion and a half dollars after going over to china on air force two? could you imagine if that was a trump? i raised $20 million for dying children at st. jude's children's hospital and they investigate me. that was before the age of 30. at the lowest expense ratio of any charity and they investigate me. yet hunter biden gets a total pass after he gets kicked out of the navy for cocaine use, for this and that. come on, guys. the double standard is incredible. stuart: your dad is coming out guns blazing and so are you. stay there. eric, hold on a second. i have more in a second. look at futures, please. we are moving up a bit more. now we are going to be up 20 on the nasdaq, 40 on the dow industrials. we have elon musk making some pretty bold plans for

space. he's unveiled his latest mars rocket prototype and says we could be sending humans -- he could be sending humans to mars sooner than expected. we have the story for you. here's a commercial break. >> when i grew up in brooklyn my parents lived the american dream and taught me what to do to be invested. >> i saw the power of business and the importance of making your money work for you. ♪ ♪ with truecar, to sell just enter your license plate and see your car's value in real time.

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stuart: let's talk the american dream. the gentleman on my right has lived it. his name is eric trump. i want him to tell us all about it, because we have always been told the american dream is just about dead. we have always been told that your dad, well, he inherited a lot of money from his father and that's how he got his start. so it's not really the american dream. what have you got to say? >> the american dream is back and it's alive and well and you see that when you see the markets and when you see these great companies coming out and succeeding. you guys were talking about peloton earlier. you watch these companies go from a simple concept into something that's incredible,

something that's a brand and that's really what my father did. he didn't just do that in business. he did it in tv. we had the apprentice way which an incredible type show. we are not exactly reality tv type people. stuart: now you are. >> now we are. he thought the country was going in the wrong direction and he goes let's give it a chance, let's give it a shot and he achieved something that was incredible but we achieved something that was incredible and something that was so much bigger than what we are. it shows that the american dream is alive and under him, i think the american dream is going to be stronger than it was ever before. stuart: it drives me nuts when i see people say oh, you haven't got a chance, you can't do that, this is america, 21st century america, you are a victim. you can't succeed. it drives me up the wall when i hear it because it's so negative and it pervades the national mood. >> especially if you go out and look at the success stories, how many people who hadn't graduated

high school went out and found these incredible companies and crushed it and created something incredible and contributed to their communities. you know, it's what depresses me when we talk about socialistic movement and this push which is we have seen that movie before in so many other countries. i can tell you countries that can't get out of their own way. i spend time in many of those countries. i can tell you about so many of the european countries that it's literally impossible -- stuart: so can i. >> they can't get out of their own way and you see this push to try and go that way. america is the greatest country in the world. we can achieve anything we want and the markets are proof of that right now. stuart: i'm going to open the market in a couple minutes. don't be a stranger. come back soon. thank you very much, sir. check futures. we are going to be up at the opening bell, despite it all as we like to say, up on the dow, up on the s&p, up on the nasdaq, after this. ♪ limu emu & doug

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...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. stuart: elon musk unveiled a new rocket over the weekend. is this the one that's going to take humans to mars? ashley: it is the prototype of it, yes. this is in texas, where spacex does a lot of its testing. elon musk out there saying this rocket, they are going to be testing soon, maybe within six

months, to go up into orbit, come back, reuse it, eventually that rocket will be used to take people to the moon and on to mars. stuart: i find it fascinating, the idea that private enterprise is doing this kind of thing. never used to be private enterprise. used to be the government. all right. 9:30 and it is a monday morning. welcome to the new-look fox business network. take a look at the big board right from the start. we are going to be -- we are up, what, 58 points right from the get-go. we are also taking a look at retail this morning because forever 21 has filed for bankruptcy. we are showing you two big retail winners, walmart and costco. more on that later. i believe walmart's about to hit an all-time high. check the s&p as well. the dow is up 70. the s&p is up about a quarter of 1%. now look at the nasdaq. i believe we are up there as well. nice gain, one-third of 1% so despite it all, we are opening up on a monday morning on the upside. andy puzder with us, mark

douglas joins us, susan li, ashley webster, of course. let's get first to forever 21. bankrupt. is this, susan, is this really all about the declining mall traffic? that's what this is? susan: decline in mall traffic and also bricks and mortars, right? this company really did have an e-commerce strategy. e-commerce came to less than 20% of its revenue. this is a team-focused retailer undercutting the likes of all the other teen retailers for $5 for tops, that was very popular back in the day, but it looks like they have more debt than they actually have in assets, almost equal, so they are going into bankruptcy restructuring, closing 800 stores that they operate mostly in asia, europe. they will keep some in latin america open. restructuring is nothing new, by the way. bankruptcy restructuring is nothing new for retailers. barney's went through it twice and others as well. yes, you take it off the table for a bit. stuart: they are failures in the retail space, so to speak.

andy puzder, address the winners. the two big winners to me are walmart and costco. >> walmart and costco are doing great. so is marshall's and tj maxx. you have to offer something people really can't get online. you go to walmart or costco, you get bulk purchases, you get value, there's some excitement to it. you go into a tj maxx or marshall's, you are shopping this shoe versus that, this blouse versus that. you can't really do that online. with forever 21, what they offered, you can do most of it online. stuart: winners and losers in the retail space, so to speak and online, i think is the big winner overall. clearly. look at google, please. they are facing a new antitrust investigation in the house. this is very technical stuff. simplify it for us. susan: it's very technical, very complicated. this has to do with domain names. when you type in the "wall street journal" or fox business.com, how about that, new-look website that we have,

it goes to www.foxbusiness.com so what they want to do, the software will actually change how i guess some of the information that comes when you go to these domain names. does that make sense? so basically this protocol apparently will provide more internet safety, for instance, you can't spoof, can't fake a domain name, so i can get your credit card information. it just makes it more secure according to google. stuart: doesn't seem like a big deal to me. the stock is down four bucks. susan: but they change it, that means they get more control over the internet as well, right? can you imagine changing the protocol and how the websites work? stuart: that's interesting. mark douglas is with us, knows a thing or two about this. you are a code writer, aren't you? >> i write code. stuart: 20 seconds on why this is meaningless. >> it's completely misguided. google didn't invent the internet or even this new version. google is just implementing it. they had dns services out for ten years, completely misguided.

completely misunderstood. google is just making more secure on a standard they didn't even create. stuart: would i be right in saying all this antitrust stuff against facebook and google and amazon is years down the road before there's anything real coming of it? >> i think it's going to move faster but this is not a good start. this is basically people confused about how the internet works. stuart: here's another area in which you have some expertise, streaming. disney enters the fray november, as you know. they are competing with netflix, apple, hulu, amazon and probably some others. you are a tech guy. you cover this stuff. what about you are saying netflix needs advertising to support revenue? they have to do that not to survive but to prosper? >> netflix is strongly rumored to be testing advertising in europe right now. i think that what's motivating it is it allows them to potentially bring the price point down and remain competitive, bring even more -- because now they would take a

portion of subscription revenue from advertisers. so if they do it right, it could work out really well for them, where they offer say if you want to pay a lower price point with that, you are welcome to. stuart: they would have a two-tier system. >> exactly. stuart: no ads, it's still whatever it is. >> exactly. stuart: with the ads it's cheaper. >> exactly. stuart: winning strategy? >> i think it would win really well, yes. i think it brings a whole new round of consumers to netflix. stuart: netflix at $266 this morning. look at this. i like this. this is the first day of the new week and we are up 85 points, 26,900. there you have it. apple, it's received an upgrade from jpmorgan which expects the stock to hit $265 a share. the current quote is "$221. cvs is pulling zantac off the shelves over concerns over cancer. sanofi makes the medication.

they are not affected. cvs stock is actually up. then we have elon musk reportedly saying that tesla could sell a record 100,000 cars this quarter. not much impact on the stock. it's at $242. we always do this at this time of day. the ten-year treasury yield is 1.70%. yes, 1.70%. nice graphic. lovely colors. check the price of gold. where is it? still around $1500 an ounce? no. $1490. down $16 today bitcoin, $8,100. oil, despite all that's going off in the middle east, down 1.5% at $55 a gallon. the price of gasoline, i pay very close attention to it. $2.65. i do believe heading down. peloton facing a lot of

headwin headwinds. mark douglas, i don't know whether you follow it or whether you've got one of these bikes or what, but you say can it weather the storm? >> absolutely. their revenue doubled last year. i continue to think the cycling revolution, the health and fitness, huge category. peloton brings it into the house. i think they will do well. they are just getting caught up in a lot of turmoil in the ipo market. stuart: you own stock in it? >> i don't. i don't own stock in any company. stuart: you don't own stock in any company? >> except mine. i do indirectly. i'm a morgan stanley customer. but i don't directly buy stocks. stuart: you don't? >> no. stuart: why not? >> i just don't have the time to really pay attention to the prices. stuart: you've got to be kidding me. you weren't tempted by microsoft when i was buying it? making a lot of money? >> i'm tempted all the time. stuart: okay. let's get serious.

senator bernie sanders set to reveal a plan today which would dramatically increase taxes on corporations that pay their ceos more, a lot more, than their workers. any idea how this works? ashley: if your company's ceo earns 50 times more than its average worker, you will see your corporate tax rate go up, although we don't know exactly by how much at this point. the plan only applies to companies with more than $100 million in annual revenue. this is just another attempt by mr. sanders to tax the rich. he says quote, you have ceos making 500 or 1,000 times more than the median income worker. that's a signal that there is a lot wrong in this country. stuart: all right. andy puzder, the field is yours. >> that's like -- look, what a terrible thing that would be, that you couldn't pay a ceo what he or she was worth. if you can create billions of dollars in benefits for shareholders or for a company,

why shouldn't you be paid a very significant amount? look at somebody like jeff bezos. jeff bezos, steve jobs, henry ford didn't make a ton of money because they stole from us. they created value for other people. they created tremendous value. in a capitalist country, you are compensated based upon the value you produce for other people. there's no reason why that should be taxed. stuart: i was brought up in this jealousy environment. ashley: yes. terrible. stuart: they are never happy. they are always angry. they want to take it off this group and give it to that group. ashley: how dare you be so successful that you're rich. how dare you. susan: how do you motivate leadership if that's the case? how do you motivate somebody like i would use bob iger instead because a man that's been hired by a firm to run it. you have to motivate them in some way. if they're successful by driving up the share price they should get some back. stuart: the socialists see capitalism and corporations as walking banks. they think they should be charities and they're not. fortunately.

i'm getting carried away. it's 9:40 eastern time. susan: it's early. stuart: never too early. wait until you hear my editorial at the top of the coming hour. but i have to say, thank you very much indeed andy and mark. i appreciate you both being here on a very important day. the kickoff to the relaunch of fox business. look at that. nice-looking graphic. the dow is up 86 points, 26,907. what are you frowning at? i like the green, bottom right-hand corner. susan: we need more of it. stuart: if the market is down i guess it will be in red, right? ashley: very good. stuart: for years, we have been told that the american dream is over. i don't see it that way. i see opportunity and the chance to break free. i will talk about that at 11:00 this morning. the trump campaign bringing in big money since speaker pelosi launched the formal impeachment inquiry. wait until you hear how much they raised and how many new

donors mr. trump has attracted just in the last week. here's proof that the president's economic policies are working. new numbers from the census department show the median household income has indeed gone straight up since mr. trump took office. that story is next. obvious. sometimes, they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group - how the world advances.

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stuart: all right. if you're just joining us, new look on fox business on "varney & company." nice graphics, different colors, and we're up 81 points for the dow industrials. there you have it. 26,900 on the button. what are you laughing at? ashley: we are loving your enthusiasm. we're right there with you. stuart: i love it. it's a terrific new look and new approach to business.

here's this. good news from the census bureau. median household income hitting new highs. over $65,000 a year. brian wesbury, an economist, come on in. as i got it, we are up $4,000 median household income in the two years of the trump presidency, whereas we are up only $1,000 in the seven years of obama. what does that tell you? >> yeah, well the reason is tax cuts and deregulation. when you reduce the role of government in the economy, when you reduce the interference of the government with businesses, with workers, what happens is you have a better economic growth and that's exactly what we've seen. when you have that better economic growth, unemployment comes down, wage pressures go up and family incomes go up. stuart: can i just jump in? to me this is an example of the

american dream that is working. because if you couple that median household income report with another report which shows that the 10% of the lowest paid workers are, in fact, making the biggest wage gains, you've got the success of the american dream, haven't you? >> absolutely. and stuart, that's exactly what we're seeing. it's usual weekly earnings, we economists love to make up boring names for stuff, but if you look at that, you can divide it up into categories, age categories and income and education categories. what we see is the lowest levels or the lower levels, the younger workers, less educated workers, lower paid workers, are seeing their pay grow faster than the top level of workers. that's why when i look at the democrats out there complaining about ceos, you know, if you take all the ceos of the fortune 500 companies, add up all their

income, it comes out to about $7.25 billion. that freaks some people out. but these s&p 500 companies employ 25 million people. so if you take all the pay for the ceos and divide it amongst all the employees, it only works out to $290 per year. so that's not the way you fix the inequality problem. the way you fix the inequality problem is by growing. and the way you grow is you cut taxes and you cut regulation and you get the government out of the way. stuart: hold on a second, brian. i see the dow just taking a minor league hit, down about 20 points just a couple minutes ago. i think this may be because of, susan, tell me? chicago? susan: the chicago pmi index, this is important because it's part of the midwest region and we are looking at contraction still. a read of 47.1 for the month of september. that's much less than anticipated, right? we are still trying to recover from what they are calling a

manufacturing recession. any number below 50 shows contraction, means there's shrinkage and it's not growing and we are coming off the worst summer by the way since 2015. stuart: brian, come back in and give me 20 seconds' reaction to that. >> sure. absolutely. one thing to remember is that these are surveys, not actual measurements of production. but when we look at durable goods, industrial production, they are both up. these are surveys and there's no doubt people are worried about tariffs, et cetera, et cetera, but the consumer is booming. if the producer out there is holding back, that means inventories are going down and eventually, they are going to have to start producing again to catch up with the consumer. so this doesn't worry me at all. stuart: all right, brian, thank you very much indeed. the dow took a minor leagues hit, was up 80, now up 58. now, coming up next, we have the ceo of a company which is using new technology to make a big push into plant-based foods. they are raising a lot of money

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stuart: big doings, big goings-on at fox business and foxbusiness.com. lauren simonetti, explain that to us all. lauren: it's so crisp and so clean, when you look at this new

foxbusiness.com website and app, stuart. they are both live right now. this is digestible, easy to understand, easy to see information. if you look at the right hand of the screen, bear with me right now, they are in green. the markets are up. let's go to the left-hand of the screen. here's why. u.s./china trade talks in early october, that's setting the tone for the day. i picked a story i thought you would like. under money over here, because the headlines at the top are basically kitchen table sort of issues, money, markets, lifestyle, sports, podcasts. i thought you would like this. this article right here, bear with me as i scroll down, how much florida residents pay in state and local taxes. a common theme on your show, on the network, is that a lot of people are leaving california, new york and new jersey to go down south, it tells you just how much money you can save by doing that. like i said, digestible information for you and your family. stuart: that's precisely the kind of information which i

want. how much would i save if i relocated to florida. give me a dollar number. that's what i really like. thanks very much, lauren. we will be back, i'm sure, to you a lot today. thank you. as you know by now, plant-based protein, the latest food craze, and we have a guest who has raised a lot of money to take this plant-based stuff to the next level. forgive me for calling it stuff, jason kelly. you are with ginkgo bioworks. i do apologize for that. i'm trying to get to grips with what you're doing and the way i see it is you grow, literally grow, fake meat in a lab. that's correct, isn't it? that's what you're doing, right? >> yeah, i mean, if you look at this sort of trend, right, you see a lot of people trying to eat less meat and plant-based foods just haven't really cut it historically. i don't know if you like veggie burgers but to me they tend to taste like cardboard. so what you've got is new technology coming in to make

this taste a lot more like traditional meat. stuart: i'm just fascinated by the idea that you grow fake meat. i think that's the correct word to use. you literally go to a lab and your people grow fake meat. you've got to tell me more about this. >> have you tried an impossible burger before? stuart: yes. yes, i have. >> okay, great. when you have bit into it, did you notice it was sort of juicy, almost like blood in there? stuart: yes. >> and that comes from hemoglobin which is not really found heavily in plants so where are they getting this from. what they have done is taken yeast cells, like the yeast you use to brew beer, and reprogrammed them to produce -- by changing the dna and you grow it up and you get hemoglobin. suddenly you have a veggie burger with blood in it, it tastes a lot better, it cooks right, it smells right. what ginkgo does is we make cells do things that are important for consumers goods

like new meats but also thinks in the cannabis industry and antibiotics. stuart: in europe, you're not going to be very popular because that's virtually blasphemy if you are interfering with god's work, that's not what people kind of like. just saying. go ahead. >> yeah, yeah, no, i think there's a big perception issue around genetic engineering in general and europe is sort of the center of it. i think what you are going to see with this new generation of foods is a lot of consumer-facing traits. you are bringing in new technology but in a way that makes a veggie product actually taste good, right, as opposed to something that just saves some money for farmers or growers. this is actually a consumer-facing trade and i think you will have a whole new conversation about it. i actually think people will be excited about it in europe. just like us, they want to eat less meat. stuart: jason kelly, this is fascinating. ginkgo bioworks. come back and el the us what else you are growing in the lab because we are very interested. thank you. the "wall street journal" reports that virtually no

landlords will lease to wework. that's creating big problems for new york's office space. more on that, please? susan: you know wework is the largest leaser in manhattan in 2018. seven million square feet. what they usually do is lease out these spaces for 15 years which is a very long contract, and they pay 20% premium but because of wework's financial issues, they couldn't ipo, they don't have enough cash or may not have enough cash to survive for another 13 months at this point if they don't unlock $6 billion in loans, you know, a lot of the manhattan commercial real estate leasers say we're not going to give our property to you. wework has to come up with the money at some point, don't they? stuart: fascinating stuff. seven million square feet. ouch. we will tell you shortly on this program about deep fakes. that's when someone manipulates a video to make it look like a public figure is saying something that they never actually said. we have a tech watcher who says this is a really big threat, especially heading into an

election season. the democrats' impeachment drive, i say it's based pure and simple on hatred and i also say the country is being held hostage as a result. you are going to hear about that at the top of the hour, my take, next. going back to the doctor just for a shot. with neulasta onpro... ...patients get their day back... ...to be with... ... family... ...or just to sleep in. strong chemo can put you at risk of serious infection. in a key study... ...neulasta reduced the risk of infection from 17%... ...to 1%... ...a 94% decrease. neulasta onpro is designed to deliver... ...neulasta the day after chemo... ...and is used by most patients today. neulasta is for certain cancer patients receiving strong chemotherapy. do not take neulasta

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stuart: this is my opinion. i want it clearly labeled as such. in my opinion, the impeachment drive is the result of hatred, pure and simple. the left can't stand this president. their emotion, in my opinion, has gotten the better of them. even before he was elected the contempt was palpable. when donald trump actually won, there was rage, there were tears, and an immediate push to reverse the election result. the left and the media spent two years pushing russia, russia, russia, only to be shot down bit mueller report. then it was obstruction of justice. how dare he fire james comey. when that didn't catch on, they

turned to a phone call. anonymous whistleblower and inevitable coverup charge. as senator lindsey graham says, to impeach any president over a phone call like this would be insane. here is another of my opinions, it will be a disaster for democrats. speaker pelosi sent the caucus away on recess with high tone talking points. quote, let us be prayerful, let it be solemn, let's not make it further divisive she says. a few hours before that she blasted the president for what she called his betrayal of america. you can't have it both ways. you can't say the president betrayed us and say impeachment won't be divisive. we're held hostage by a hateful left. prescription drug prices, mexico, canada, trade package and. they are overwhelmed an consumed

by the left's hatred of donald j trump. one more thing, if the impeachment drive ever reaches the senate, leader mcconnell can investigate his son what he was up to in ukraine and in china. what while his dad was vice president. why didn't joe biden tell his son this stinks. the optics are terrible. don't do it! maybe this is how the left kills off the biden presidential run. they really want is a socialist in 2020 and undermining the biden campaign will achieve that let's be clear what is going on here. president trump is not going to be remove from office. that will not happen. but the left doesn't care. they will hurt our country because they hate him. the second hour of "varney & company" is about to begin.

♪ stuart: take that. the dow industrials are up 99. we're up 36 on nasdaq comps it. s&p up 12. solid gains despite it all. have a look at apple. jpmorgan jpmorgan raised its price target. they say it will go to 265. they raised of the iphone forecast. the stock is at 222 and rising. let's get to the hong kong violence. real protests continued over the weekend ahead of china's 70th anniversary. keith fitz joins us. expert in this area. spell this out for us, what does it mean to me, what is going on in hong kong. what does it mean to me and our viewers money. >> it is not being discussed in american media. china fears most not the trade war but they fear a challenge to the territorial sovereignty.

that is what the hong kong situation represents. here is the calculus you need to be concerned when it comes to your wallet, if that means it is true, down mean any tariff in the united states will have whatsoever. we can delist their securities. tax them into oblivion. we can tariff them into oblivion, they won't care as long as they maintain hong kong. stuart: does that mean the china trade talks are involved in all of this and what it means to us in america? >> absolutely. because this is the law of unintended consequences about to rear its ugly head. think can push all the way they want at the united states negotiating table, the risk to the market, if china walks away and risk to the market are substantial based on escalation of violence in hong kong. stuart: i will bring you on at the end of the bloc. president trump is tweeting this. very simple. i was looking for corruption, why germany, france and others

in the european union don't do more for ukraine. why is it always the usa that does so much and puts up so much money for ukraine and other countries. by the way the bidens were corrupt. president is coming out with guns blazing today. that's a fact. so let me get back to my editorial on impeachment which was at the top of the hour, if you didn't miss it. i say the impeachment drive is driven by hatred of the president. matt macoviak, potomac strategy group is with us. you can test my premise, that the impeachment process is based entirely or substantially on hatred? >> i think that is right. i don't think there is precedent for a president of the united states under investigation every day of their first term. that is what we're looking at here. keep in mind that the nixon impeachment took eight months. the clinton impeachment took five months. we have seven weeks till thanks giving, four months until the

iowa caucuses. if the democrats want to move on fastest track in history of impeachment proceedings they will have to really get going. look i generally agree with you, stuart, the democrats i think are doing this now for one reason, they are deeply afraid president trump will be reelected. that is what this is about. they're doing it this year before the end of the year. i think as a collateral issue it will hurt biden t will raise a lot of questions about him and his son. this will not be unifying for the country as speaker pelosi said. this will be deeply dividing. stuart: matt, will this whole thing hold up? will the democrats in the house allow the president a win on the new nafta or prescription drug prices or in infrastructure? those are all areas which need to be discussed. do you think they will all held up? >> it's a great question. there is so much that has to happen. of course at the end of the year on capitol hill they hit major deadlines. there is a spending bill

deadline. you want the u.s. mexico canada trade deal. the speaker here in austin said they're down to one last remaining issue. that is enforcement. she just put a prescription drug plan out that she wants to move forward. so you know, with one hand they try to negotiate with the white house. with the other hand they try to punish him and target him, attack him. that is not a way to work together, you know in a way that makes a difference. keep one other thing in mind, stuart. democrats didn't run on impeachment when they won control of congress. they ran on health care and range of issues. those issues will not get any traction. the democratic majority will base it on impeachment and there is a real cost here for democrats in that regard. stuart: matt, i think you're right. thank you for joining us. see you soon. thanks for joining us,. >> thanks. stuart: keith fitz, come in again. i have a story for you. you know all about this.

amazon introduced a few new different devices including a pair of eyeglasses with alexa built in. explain this to me for heaven's sake, and b, i think you're excited about this. tell me more. >> tell you what i'm excited for the stock amazon makes a lot of money advertising e-commerce and big data. that said, you're talking about having alexa on your head if you look at, stuart you like a new minivan, want to go to mcdonald's, interested in gas prices all your advertising will be channel whether or not. this thing has the potential track what you're looking, provide augmented reality. personally i don't like it. but i like it for the stock. stuart: you have little ear buds in your ear, alexa, cheapest gas within 50 feet, is that what it is? >> oh, i don't think it will be that. when this thing is developed it

will track your eyeballses track what you're looking at. in the interlaced world we live in it will serve that stuff up to you. stuart: can't wait, not. keith, thanks for joining us. see you again soon. >> you bet. stuart: major corporate news, forever 21 filed for bankruptcy. christine partsinevelos outside of a forever 21 store in new york city. you've been in touch with the company? reporter: they say they will close 178 stores. i'm not just at anyone behind me the one in times square is 98,000 square feet. they have four floors. sometimes they stay open to 2:00 in the morning. i reached out to the company. they said they requested approval to close 178 stores across the united states. the decision which domestic stores will be closing are ongoing depending the outcome of

continued conversations with landlords. the company received financing from jpmorgan jpmorgan as well as tpg. they also said in the press release. don't worry, you can still use the gift cards. they haven't said which specific stores in the united states they're closing. they could close up to 350 stores around the globe. so stu, if you're wondering, what happened? why is this company filing for bankruptcy? it is privately-owned. they have grown very quickly. went from 7 countries to 40 countries in less than six years. they underestimated fast fashion online like the asos. think of high rents at this location? they have a high debt level. people are turning to cosignment clothes. that is growing in popularity. secondhand clothes. last but not least, forever 21 stores are in malls. unfortunately people are not going to malls. forever 21, still open. people are still shopping. stuart: there is double or

triple whammy against them. kristina, thank you very much indeed. we'll see you throughout the day guaranteed. big board holding on to a modest gain. a third of 1% to the upside. coming up a fascinating story on deep fake. that is when hackers manipulate videos to make it look like a public figure is saying something that they never actually said. they are becoming easier to make, harder to spot. one of our top tech watchers these videos are going to be the next big threat in the tech industry, especially in an election year. is there any way to stop them? we'll see. dramatic video from saudi arabia. massive fire at a brand new train station. five people injured. that is not the only bad news from the mid-east. the saudi king former bodyguard killed in libya. the country's crown prince says conflict with iran could send oil prices skyrocketing.

we'll see what christian whiten talks about it at this hour. new update from tesla. they have a plan to update your wind shield wipers. what are they going to do with that? hour two of "varney & company" just getting started. ♪ ♪ limu emu & doug hour 36 in the stakeout. as soon as the homeowners arrive, we'll inform them that liberty mutual customizes home insurance, so they'll only pay for what they need. your turn to keep watch, limu. wake me up if you see anything. [ snoring ] [ loud squawking and siren blaring ] only pay for what you need.

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stuart: ladies and gentlemen, i can firmly say this is a rally. we're up 111 points. 26,930 is where we are. something really troubling, deep fake. those are the videos that can be manipulated, manipulate public figures, so those public figures appear to say something which

they never actually said. this has been done to speaker pelosi and mark zuckerberg at facebook. very hard to spot what is a total fake. it is very easy to make these things. vivek wadhwa with us, harvard law, carnegie mellon distinguished fellow. i see how this can be a real threat in election year. this stuff can get out. i don't know how you can stop it. what do you say? >> stuart, that is the problem. within a few months we'll have commonly available tools that let you do this thing. go on the smart phone. take a photo, edit. imagine if you edit videos the same way, put a face on a body? suppose one of your producers say they are angry at you i endorse elizabeth warren and push it on internet. this is possible in the next few months. you better be nice to him. ashley: don't trust brian. stuart: look, we cannot show the pelosi "deepfake" or the

zuckerberg "deepfake." we can't put that stuff on the air, but you're telling me it is really easy to do? >> it will be very easy in a few months. we're not there yet. still done by people in labs, people with special tools. the way technology is advancing it will be commercially available soon. we have no way to stop it. the tech industry is talking about. they have some r&d projects to stop it this is moving faster than they can move. we're in real trouble. by next year we'll have lots of "deepfakes" on the internet. how do you spot it? >> you can't spot it right now. it looks pretty real. that is what the worrisome thing is. stuart: that is extraordinary. as you say, i can imagine someone take my video, for example, look like i'm a socialist. my video, my lips are moving. they get sound from someplace

else, imitates my voice, bingo, way you go. there is nothing you can do to stop it. that is extraordinary stuff, vivek. >> they can take the sound, there is lot of video of you on internet. the sound is exactly like you. when a normal human looks at it looks very real. we're just about there now, it can be done. stuart: it puts us in a very particular division. video comes to us all the time of course. how do we know what is real or not real? we need a software package that says that is fake, that is not fake, but it is not there, is it? we're out of time. we respect your opinion and your analysis. we'll watch out for this. come back to tell us soon how easy it is to do. vivek wadhwa, everybody. thanks for being with us, sir. let's move to something else really scary. a moment on a united airlines flight. the plane as engine appearing to

partially detach from the wing. we'll tell what you happened in a moment. a sign of the times story. a gas station in maryland ditching pumps, replacing them with electric charging stations. we'll take you there live after this. ♪ ♪ ♪

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watch shows like south park and the walking dead october 7th through 13th. stuart: picture this. sitting on a plane, look out window that is what you see. an engine on a united airlines plane violently shaking appears to become detached from the plane. tell me more. susan: how scary is that?

on a flight from denver to orlando, takes 3 1/2 hours, and this is an hour in. flight 293. a lot of passengers on board took the video the pilot being credited at a hero, they diverted, went back to the airport. it makes you, again, question safety in the skies especially as the 737 max is still not flying once again. >> great when everybody has a camera, ready to shoot what incident happens. but you see them all. >> good and bad. stuart: good and bad. is this a sign of the times? a gas station in maryland ditched the pumps and became an all-electric car charging station. hillary vaughn is there. tell me more, hillary. reporter: stuart, right now you're seeing a tesla utilize the very first no-gas, gas

station in the country. they converted from traditional gas pump, to all electric. this has been charging 20 minutes. we'll talk to the customer utilizing this for the very first time. he has this tesla. he is monitoring progress inside here on his app. you can see the battery is almost full. customers can expect to spend about five to $10 every trip here, filling up their batteries. so it doesn't bring in a lot of revenue compared to what you would spend to fill up a tank of gas. mr. doley owns this shop. this is the mechanic area here. this is hess main source of revenue. but what he told us is, they weren't making a lot of money from having gas pumps outside here. so they decided to make the switch to electric. he is not expecting to make tons of money off of it. he think it is important to get ahead of the curve because there are 20,000 electric vehicles here in maryland. he is hoping to capitalize on

some of that. stuart? stuart: hillary, i wish you best of luck but you have to gas up or charge up in less than 20 minutes if you want a lot of business. that is all i'm saying. hillary vaughn in the middle of it. totally different story indeed. let's go to hong kong, weekend of violence, some of the worst clashes between protesters and police as of yet. more expected tomorrow which will be the 70th anniversary of the founding of the people's republic of china. i want to know, what is the endgame here? what does it mean for us? democrat impeachment push, firing up the president's base. campaign donations up really big. we have the numbers for you. that is in our 11:00 hour. more "varney" after this. ♪

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that is wildly out of tune. ashley: certainly is. we don't know this is true. there is a rumor out there which buckingham palace denies. however it has been reported that the queen checked with her aides saying what could i do with boris johnson if he loose as vote of no confidence and refuses to leave? which i guess she believes boris johnson, being boris johnson may say no. i don't think he can. this goes back to the fact that mr. johnson went to the queen as is discuss murray i want to suspend parliament for five weeks. five weeks is almost unheard of. never happened before. she is obliged to say okay, mr. johnson. the uk supreme court said that is completely illegal. you can't do that. it embarrassed the queen. it is unlawful. boris johnson phoned the queen apologized to the whole affair. prior to the uk ruling can i fire mr. johnson, anyone?

you know -- stuart: takes her order from politicians. politicians ordering here, that is the way it is supposed to be. ashley: it's a quirk in the constitution. even though it is not written, she has some discretionary powers. stuart: it's a quirk, that is a fact. ashley: a quirk indeed. stuart: "fox business alert." new sanctions involving russia. this is just coming right at me. have you got anything on this, ash? ashley: i do. to do with a 2018 midterm elections. and they're going after one person in particular, yfegnipergoshin. influence through the internet agency. the internet agency was identified as one putting outfalls information and creating false event in the attempt to try and, you know, influence the campaign. it is internet research agency

is the full name of this. sanctions against him, his bank accounts, his yachts, his planes and also six employees of this so-called internet research. stuart: no impact on the market. but we'll show you the market any way. we have a nice rally going here. 80 points up for the dow industrials. back above 26,900 despite all the stuff going on in the background. let's get to the middle east. several items of news. a fire at a high-speed rail station in jetta, saudi arabia. injured five people. destroyed a billion dollar train station which was brand new. over the weekend, long-time bodyguard of saudi arabia's king reportedly shot dead. new this morning al-shabaab extremists in somalia attack a u.s. military base. salman said on 60 minutes that a

confrontation would collapse the global economy. christian whiton, all of this, and president trump seems determined to stay out of any direct conflict with iran. he is determined to stay out with it, isn't he? >> i think the jury is out on that. the administration has been slowly consistently bidding a coalition against iran. the ultimate tool the coalition uses is not clear yet. whether more sanctions or more military posturing or rule of force, use of force but they haven't actually said one way or another what they're going to do. the crown prince's words can be interpreted either way. he reinstated or reminded us the importance of the gulf to u.s. energy, even though we are a net exporter of energy, we still import 10 million barrels a day of oil from the persian gulf. that is 16% of our total. on the other hand how drastic action could be on that market

implies he doesn't want to go down that path. riskiest thing here of all would be doing something to iran, that means they will come back and do something bigger yet. stuart: that is certainly what they're threatening. turn to hong kong. big protests over the weekend. violent protests. more are planned tomorrow. that is china's 70th anniversary of the founding of the peel's republic. it is october the 1st. this makes xi xinping kind of bad, doesn't it? it weakens xi xinping, doesn't it, christian? >> it does. he is the strong man. he has a special interest in hong kong. he has powers that exceed any of his successors going as far as as, sort of take all the power on, have these economic problems on the mainland and the political problems. hong kong will keep on going and keep on going and president trump recently came out and said we'll judge china's ability to adhere to international agreements based on their ability to adhere the ones they

promised in hong kong. senator rick scott became the first u.s. senator to visit hong kong over the weekend since these protests were erupted. the police were kind enough not to beat him up. tomorrow, 70th anniversary of founding of the. 70 years is usually when chinese dynasties come to an end. it is also the when the soviet union came to an end. stuart: if there is a push down by xi xinping and that is big news and our market i presume would be affected. give me send seconds on that. >> yes. also the u.s. is looking to curtailing investment in government related pension funds into china. the trade war goes on. xi xinping has a lot of turbulence to deal with. stuart: christian, thank you very much indeed. i'm sure we'll see a lot of you very soon. >> thanks, stuart. stuart: as you know there is a fracking ban in new york state.

our next guest says that is hurting new york state's economy. i think it is hurting the whole economy. come in new york congressman tom reed. i am right to say there is moratorium on fracking, a moratorium in new york state on getting energy, primarily natural gas, which is under our territory. how is that hurting the economy and new york? >> well, it is hurting especially upstate new york where the marcellus and utica shale formation exists. because of this moratorium, because of the ban on hydraulic fracturing we can't get access to mineral rights these homeowners, property owners are paying taxes and maintaining their property for years on. that leads to money they could be investing in their farms, in their businesses and in their savings and the governor really should overturn this ban because it is proven, hydraulic fracturing can be done safely and responsibly. let it move forward in new york state. stuart: the whole basis of the ban is climate change.

fossil fuel, you're not supposed to go for fossil fuels. we have a huge deposit underneath new york. you contact go get it because it's a fossil fuel, natural gas. so you can't go get it. we are being held hostage, new york state is being held hostage by the greens. that is my opinion. what is yours? >> i would agree with that. on the surface they're saying the risk associated with it. i think you're touching on a bigger issue driving this ban in new york, the extreme environmental policy coming out of albany they can't stand up to. that is what is preventing the resource being developed. we should develop it. not only new york, but as you point out, look at event happening internationally. iran bombing saudi arabia oil fields. that would have caused a completely different outcome if we had not become the world's largest exporter of oil and natural gas in our backyard. that is why we're missing the boat here in new york, not only economically but doing our part to make sure the nation is secure. stuart: you're a new york state

congressman. you represent a upstate new york constituency. how is the impeachment inquiry playing up there? >> obviously i think there is a lot of folks in upstate new york standing with the president. i will tell you, i've looked at this transcript. i looked at the whistleblower complaint. i know there have been exhaustive news reports on it. i don't see the smoking gun evidence that high crime, like a treason, bribery level offense. for the democrats to go down this path is telling me that the democratic party is completely overtaken by it is extreme agenda, driven by justice democrat aoc "squad" type leadership. stuart: tom, thanks for joining us, mr. congressman. we always appreciate it. >> always appreciate it. stuart: sign of the times which have real impact on the country and on you, how about this? california will let college athletes hire agents to make money from endorsements s that accurate, susan?

susan: it bans athletes from accepting endorsement deals that conflict with the existing contract. what this law, gavin newsom, the governor of california is signing into law, athletes at california universities make money from their images their names, likeness. it means they can hire agents, right? the law also bans schools kicking athletes off a time if they get paid. this is trending on social media right now. this is a big deal. california, ncaa says if california does this, basically it separates california from the rest of the country. stuart: it does. >> it will impact usc a powerhouse in ncaa sports. stanford university. ucla as well. this will be a separation but it doesn't go into effect until 2023. stuart: sure. susan: should college athletes be paid? this has been an ongoing debate. lebron james whose son is 14-year-old prospect says they should. you're making over $10 billion in revenue each year and these

kids, how much time do they have to go to school, they're practicing five, six days a week? they're spending time in the gym, shouldn't they be paid? stuart: i'm with all the way, if this goes through, takes effect -- ashley: it will be challenged in court, you know that. stuart: it would radically change college sports. ashley: forever. reshape it completely. stuart: reshapes it completely if it goes through in the end. got it. wealthy residents of high-taxed states like california, like new york, they're fleeing to low-taxed states like texas and florida. we're talking to a real estate guy who helps people move from high-taxed to low taxed. he says business is booming. bernie sanders out with a new plan to take on income inequality. if a company pays a ceo too much by his standards he wants to hit them with new taxes. we'll break it down in the 11:00 hour. more "varney" after this.

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stuart: it's a rally. up 89 points. top left side of your screen. we'll see a chart how the dow progressed during the day. all in the green thus far. tesla, i don't know about this. i don't know what this is all about but look, tesla has reinvented the windshield wiper. they have got a patent. ashley: how do they do that? a electromagnetic rail at the base of the screen windshield, it moves across, going across this way, which the patent says than actually cover more of the screen. and also adapt better to different shaped windshields. listen this, is a patent been put in for. will it be there? we'll see. stuart: it is this.

ashley: correct. stuart: put camera on me, please. this is this and not this. susan: there you go. thank you,. ashley: less friction because on electromagnet i can rail so, whoosh. stuart: why they pay me a lot of money. you have to do it right. it is not a dance move. let's be clear. my dancing days are over. serious stuff a u.s. judge dismissed a lawsuit by four states challenging the cap on federal deductions for state and local taxes known as salt. it was included in the 2017 tax overhaul. the four states were new york, new jersey, connecticut, maryland. the judge has thrown out that challenge to salt. our next guest has helped resident of blue states, high tax, sell their homes and relocate to red states, low taxed, like texas. paul chabot, founder there of, is with me now. give me some idea how your business has grown please, paul?

>> thanks, stuart. last time i was on your network, first time was two years ago. we had two agents, part of our new company. we have 250 agents working in 40 states. on average we get 10,000 inquiries asking for assistance every year and numbers, we really can't keep up with. you look at polling data, see what is happening in new york, new jersey, illinois, for that matter, for most part middle mie class families are looking for the best place to raise their kids so they're looking at the red states. stuart: is that your direct pitch? you get out in new yorks, new jerseys, californias, you make the pitch we can take you and put you someplace better financially? is that the overt pitch you make? >> it is absolutely. if we look at places like california, my native state, born and raised there, it used to be a good republican state. now it is so far left. you look at poverty, 50% of

homeless in california, skyrocketing of crime, unavailability to find housing, huge sanctuary state issues for the most part middle-class families had enough. these families have been in these states, new york, new jersey, illinois, california, portland, or gone, seattle their entire life. they're looking for better places to go. low-taxed states, texas, florida, tennessee, idaho and others are hugely popular and there is a massive exodus if you will, look at u-haul numbers, moving company numbers or just the corporations moving out of the blue states to red states. it is pretty phenomenal. stuart: extraordinarily stuff. thanks for keep us up to speed on this, paul. i have to interrupt. it is breaking news. >> yes, sir. stuart: wework decided to postpone its ipo. susan: not surprising. released a statement very few people think they will go public

in 2019. very few people saying they will about public in 2020. the ceo saying we have every intention going public in the future. when, that is the big question mark. stuart: with all the background noises there, they will not do it this year. thank you, susan. joe biden is asking the tv networks, stop interviewing rudy giuliani the president's lawyer. biden says giuliani is pedaling conspiracy theories. what will howard kurtz make of that, media watcher guy? he is next on us. ♪

stuart: it has been like this all morning. a solid rally from the dow industrials. about 1/3 of 1% higher. then there is this. joe biden says he wants rudy giuliani off the air. howard kurtz, media buzz guy with us now. off the air, don't run the

president's lawyer, don't put him on your shows. what do you make of that? >> biden campaign has no business telling the networks not to book the president's personal lawyer or anybody else. this is obviously a hail mary pass. they know it will be slapped down. a way of getting some coverage by taking shots at rudy giuliani. by the way, rudy doesn't just get to go on networks spew whatever he wants for 20 minutes. he had serious of contentious interviews including a couple with maria bartiromo about his role in the whole ukraine mess. the letter from the biden camp says he is being fact checked in real time but that is not enough. stuart: we don't agree with that one. i got that now. listen to what msnbc anchor nicole wallace said about the president. i want to roll the tape, everybody listen. watch this. >> we hate to do this, really, but the president isn't telling the truth. these allegations against joe biden and hunter biden he is repeat having been investigated by the ukrainians. what trump appears to be trying to do is turn his own

impeachment into a big deflection. stuart: howard, i'm sorry, i don't think you can interrupt a presidential speech and call the man a liar. i don't think you should do that. >> that is the point. i talked about it on media buzz yesterday. a lot of liberals are hating on me in twitter. the point the president has a news conference. let him make his points. you have 23 1/2 hours to beat on him. nicole wallace is opinion person. she can say whatever you want. we hate to do this, they have done it actually before at ms, i think just shows a lack of respect for the office. it is news coverage during the day. if they want to challenge the president, just so rude and if you flip the script and some conservative host on fox or elsewhere interrupt ad obama press conference started calling barack obama a liar, i think there would be an explosion on the left. stuart: at the top of the hour, right there at 10:00 i went on the air this morning with an editorial, i said the basis of this impeachment push is hatred,

hatred of the president in the media and also by the left. am i going too far? >> well i certainly think there is no love lost in the media for the president. that is why they seem to give very positive coverage to the democratic effort to impeachment of the president and certainly nancy pelosi decided this would be to her political advantage. i'm not sure that is true. at the same time the president has given them a little bit of fodder with the controversial and ukraine call. you may have a different view. there is a lot of emotion here and have been since the day donald trump was elected. stuart: have you ever seen anything like this before in america's media, because i haven't? >> absolutely unprecedented. you would have to go back to the nixon days. even then you didn't have cacophony with this president because you didn't have many media ought let's. stuart: as always, thanks for joining us. thank you. what you hear from the left, the american dream is alive and well.

i'm here to tell ya. my take on that. reaction from the one and only charles payne coming up shortly. the democrats going full steam ahead with impeachment. i want to know how much damage will this do to the president and america? lou dobbs coming up on that one. what would a elizabeth warren presidency mean for your money? one of our top market watchers says a president warren would be disaster for the markets. he will make his case on this program. "varney & company" hour three, coming up next. ♪ -driverless cars... -all ground personnel...

...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. stuart: the american dream is

alive and well. yes, you can climb the ladder. you can move up. and you do it with your own brains, drive, talent and ability. but for years, of course, we have been told the dream is over. that somehow, you're not a dynamic individual, oh, no, you're just a victim. i don't like hearing this. it's the pessimist view. the socialist's view. it is such a drag. i don't see america that way. i see opportunity, the chance to break free, make something of yourself and let's be clear, it's capitalism that creates this opportunity. not socialism. europe is a museum and sinking fast. they are collectivists over there, socialists, stuck in the past. their level playing field actually brings everyone down but always keeps the elites on top. my experience and the experience of so many of my colleagues on fox business, is very different. nobody ever told me you can't do

that. all my employers over the last 40 years simply said can you do this, and being a hard-up but ambitious immigrant, i said yeah, of course i can, give mae a shot. capitalism actually brings out the best in you. you want to climb the food chain, you can do it. what can you do? yes, you can do it. senators warren and sanders are pushing the exact opposite. we will give you this and we'll give you that because you can't do it on your own, you're a victim. the socialists are wallowing in jealousy and anger and distorting the obvious success of capitalist america. not on this program. we like success. how we cover the news is in your interest. we like economic growth. that's why household income has gone up so much in the trump years versus the stagnation of the obama years. that's the vast american middle class doing well. that is america doing well. you noticed a lot of red, white and blue on your fox business

screen? we are invested in you and that is a promise. roll that animation. ♪ stuart: that is george michael. ashley: yes. stuart: even i know that. we know all about freedom on this program. we have just been talking about it. look who's here. this is the prime example of the american dream and a man who's done well by himself for himself. charles payne. >> great monologue. stuart: seriously, you are the american dream, aren't you? >> i am, without a doubt. without a doubt. that's why i, like you, i get so offended by those who tell others they can't, they won't, it's hopeless, i think as a

political platform it's awful. unfortunately, it does work. it's so depressing. selling hopelessness in the most hopeful country in the world, that the world has ever known, is crazy to me. just crazy. stuart: for political advantage. these capitalists, they will do you down. >> these people don't like you, these people are going to hurt you, this is going to hurt you. meantime, what are you doing to make it better for me? you know, i was in the air force, right, there was an old saying move or get out of the way. but you can't just stand there and tell me i can't make it. i really wish that this would not work with so many people. it does, though. stuart: i'm sorry to laugh about this, but didn't you spend a couple years freezing your rear end off in north dakota? >> i did. i was on a chopper once and the heat went out. i think that's the only time i cried in my life. there were icicles. it was so damn cold. it was like 100 degrees below zero. that's the american dream.

the nuclear warhead got back to base safe. stuart: that why you were there. this is a spsecial day on fox - there you are. special day here on fox business. we wanted to bring back all the favorites from "varney & company." elizabeth macdonald is back with us. she is now the host of a similar spinoff show "evening edit." ashley webster right here. i want to stay on this. the american dream. you were born in america, you have all the advantages from the get-go. liz: i love the american dream, i love the idea that if you had the opposite it would be contingent on your government relationships, insider track with government, so i grew up working since the age of 13, 14. i made $2 an hour shelving books at a library. $2 an hour to put books on the shelf, i'm not doing this. stuart: it became a print media

journalist? >> i have been doing business journalism for 35 years. stuart: you graduated up to television. liz: yes, i did. on the "varney" show. that's right. you know what i wonder about? why don't we teach capitalism in schools? we have tenured professors, bad professors that get tenure who are teaching equalism. why don't we teach capitalism more in schools? stuart: what's your story, ash? ashley: america is all about opportunity. you want it, it's there for you to go and get it. growing up in the uk, very much where you live, what school you went to put you into a box. god forbid you put your head up above the parapet and said i can do this because you would have people say get back in your box, chocolate, you are not supposed to be doing this. it was very much the class system was very accentuated. when you come to america, none of that. it's quite amazing. you can have people here from this, wherever they come from, if they have the dream and put in the work that's necessary and continue and get knocked down and get back up and all those

things trngs tru things, it's true, this country, the sky's the limit and beyond. stuart: we are all on the same american dream page. liz: it's about freedom. you don't have to answer to government cronyism. stuart: what can you do? i'm going to change subject entirely. charles is still with us. i want to talk hong kong. charles, i know you have seen the riots over the weekend, and you know what comes up tomorrow, october 1st, the founding of the peoples republic of china. it seems to me xi jinping is looking kind of weak at this point. he doesn't know what to do about hong kong. i wonder, is there any impact on america and america's money from all of this? >> i don't think so. these are very very peaceful protests, by and large. there are certain parts we are seeing, but when you see a million and a half people marching in unison and not tearing anything up but saying we just want to be treated like human beings, that's what stands out more to me. if it got worse, i think you would see the hammer come down. stuart: that's what i mean.

i'm not going to forecast that it gets worse tomorrow on october 1st but if it did, in other words, if there's blood in the streets, what then? >> you may have a short-term impact on our markets, but this is something that the world is bracing for, eventually for china to take over hong kong completely, and maybe before then, i know we are already seeing it, maybe the entrepreneurs there start to make contingency plans. i know all the places around asia, you know, the asian tiger countries like that are already doing very well. china is going to lose out big-time. it's hard to believe they will accept hong kong as it is when they are legally able to have full control. obviously they have de facto control right now but the world is watching and they know the world is watching. stuart: i don't want to be distracted by the idea that it may affect our markets. what i'm really intent on doing is we are all sitting around the desk here talking freedom. isn't that what we want for those brave young people in hong kong? freedom? >> we're rooting for them.

but there was a deal signed, eventually the youngsters are saying we didn't sign this, you know, if you were born in hong kong 20 years ago, you had no voice in this. they're saying why do we have to do this, and who knows, you know, some people said when they signed the deal, the thinking was that maybe china would be influenced by hong kong's success. who knows. it's still a couple decades ago. maybe that will happen. i'm a hopeful type. stuart: charles payne can be viewed on this network every weekday, 2:00 p.m. eastern. >> got a spsecial guest, anothe refugee from european socialism. born during russia air raids. that's all i'm going to tell you. i will also share what i do with my american success and how i pass it forward. stuart: 2:00. i will be glued. thanks, charles. check that big board. it's been like this most of the morning. we are up solid, 80 odd points at the moment. that's about .33%. got that. now this.

bernie sanders is out with a new plan to take on income inequality. if a company pays its ceo too much, he wants to hit him with new taxes. e-mac breaks it down in just a moment for us. the trump campaign bringing in big money since speaker pelosi launched the impeachment inquiry. next, the trump 2020 team will tell us how much they have raised. as the democrats go full steam ahead with impeachment, i want to know how much damage is this going to do to the president and our country. lou dobbs on that. if you didn't notice, you are looking at a refreshed fox business but one thing that's not changed, we are invested in you today and every day. stay with us. this is the third hour of "varney & company." we are just getting started here. ♪ with time, comes change

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stuart: i keep saying it, despite it all, despite impeachment, for example, the market just keeps going up. now we're up 100 points for the dow, 30 for the nasdaq and 11 for the s&p. that is a pretty good rally. next, bernie sanders versus ceos. he's rolling out a new tax plan that targets well-paid chief executives. where does the tax, at what point does it hit? liz: it starts at the ceo's pay is 50 times the median workers pay, they will assess that corporation half a percentage point. the tax goes up the more the ceo pay is higher versus the median workers' pay. here's the problem. it's really flawed. bernie sanders is complaining that ceos pay themselves health benefits and pensions. he leaves out of his calculus the same health benefits and pensions and 401(k)s and worker benefits that workers get. so when he does that calculation, that's missing. he also doesn't take into

account that these companies pay into the government welfare system, fica, medicare, unemployment benefits. he also wants a government-run wealth registry that you would have to report to the irs your wealth every year. so in order to do what he wants, you would have to have the s.e.c. be an arm of the irs. i don't know if the american people want that given how flawed their analysis and model is. stuart: you ever heard of privacy? liz: that's right. stuart: senator sanders? isn't my financial life private? all i've done for 45 years of work, whatever i've accumulated, isn't that my business? liz: it is your business. it's novne of their business bu they want to make the government in your business. they leave out, they are throwing fastballs, whiffing fastballs by the american people. when you put back in the employee benefits that bernie leaves out of this model, it doubles worker pay at least. stuart: get your damn hands off my money. ashley: get your mitts off. stuart: liz, you were remarkably

restrained. thank you very much. i was not. thank you. democrats on the hill pushing for impeachment. we know that. that's firing up president trump's base. erin perrine is with us, trump 2020 deputy communications director. speaker pelosi launched impeachment at 5:00 p.m. eastern last tuesday. how much has president trump brought in since that announcement? >> in the first 48 hours after nancy pelosi got dragged so far to the left by democrats that she announced her impeachment inquiry, president trump's re-election campaign brought in $8.5 million to the campaign for re-election in 2020. in that 8.5 million, it's all small dollar donors, people giving $200 or less. that's hard-earned money out of people's paychecks that they are saying not only do i think democrats are wrong, i support president trump and i'm putting my money behind him. we had 50,000 new donors join

this campaign thanks to nancy pelosi. stuart: did you go out and ask for the money? did you put out a mass e-mail of some sort saying look what they're trying to do to our president, donate? is that how you did it? >> we did a couple different things. one, yes, e-mail is always a big part of our campaign. we did e-mails, we did text messages, we did online ads. we want to reach people where they are. and give the real news to them. obviously a lot of the liberal media has been carrying the water for democrats on their fake message against president trump and so we get out there, we share the message, the real news that president trump did nothing wrong and the dollars came pouring in from supporters saying president trump deserves to win a second term in office. stuart: do you see any cracks in the republican party as this impeachment drive gets rolling? >> i see strength. not only in president trump but in his message. president trump has done nothing wrong here. democrats are using lies and slander to try to take down a legitimately elected president.

russia didn't work so now they're trying a new tactic and this again will not work. it will continue to strengthen the republican party, it will continue to strengthen our base and it will send president trump to a landslide victory in 2020. stuart: now, senator sanders and senator warren both make a big deal out of the number of small donors, small donations, that they receive. can you compare the money that's brought in to the president from small donations and the money that comes in to warren and sanders in small donations? is the president ahead of the game here? >> president trump is always ahead of the game when it comes to democrats but on average, we see about 98% and just north of that of our donations to this campaign coming from small dollar donors. again, those folks who give $200 or less to support the president. that's big. that's average americans. that's your neighbor, that's your friend, that's your family who says i have earned my money, i have earned my paycheck and

i'm going to put those dollars behind president trump to make sure he has every ability to win again. this means we're going to be able to fund the largest grassroots effort across the country to talk to voters, to train volunteers, to win in 2020. stuart: one last one. you said that you brought in was it $8 million in the first 48 hours after speaker pelosi launched impeachment. okay. what about the time after that? has the funding slowed down at all? >> no, the money is continuing to come in. today is the last day of q3 fundraising so we will have some updated numbers for the last three months, including what we have been able to bring in just in this short time after nancy pelosi went straight off the impeachment cliff. the support is there for president trump and it continues to grow every day. that includes fund-raising. stuart: thanks for joining us. we appreciate it. thank you very much indeed. >> thanks for having me. stuart: got a quick stock check for you. peloton. as you know, it went public last

week, $29 a share is what they wanted. it slumped and is now at $25 a share. that's peloton. look at apple. it's leading the dow. jpmorgan raised its target price on the stock, says it's going to go to $265. it's currently $223. and up four bucks. luxury homes in high tax states are seeing a drop in prices, because of the cap on state and local tax deductions, maybe. we will take you inside a home that's been marked down by millions and millions of dollars. we will take you inside it next. ♪ ♪ limu emu & doug

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plus get $250 back when you buy a new samsung note. click, call or visit a store today. stuart: repeating the news we brought last hour, a u.s. judge has dismissed a lawsuit by four states which collahallenged the on federal deductions for state and local taxes. it was included in the 2017 tax overhaul. it was known as salt. the four states, new york, new

jersey, connecticut, maryland, the judge throws out the challenge to salt. you got to pay. that brings us to our next story. luxury home prices have seen a big drop in recent years, especially in high tax states like new york and new jersey. a lot it has to do with salt, of course. cheryl casone is at one of the houses in bedminster, new jersey. tell me how the price has been cut from here all the way down to here. reporter: i'm going to do that as i show you the grounds because we have 28 acres to play with today. first i'm going to start by showing you what your tennis court will look like. if you decide to spend $3.1 million on crossfields, the name of this property. here's the thing. originally the price was $6 million. they took it off the market, brought it back on the market in 2018. there's your helipad as i go through the numbers. as you can see the lights right there, that's where your helicopter lands so you can commute into the city every day from new jersey. they put it back on the market, 2018, and they decide, you know

what, look, we need to start reducing the price. they cut the price on this place by actually almost a little over $2 million. there's your pool, of course. this has seven bedrooms, eight full baths and four half-baths. it's got a lot of rooms inside of this property. now we are at $3.1 million. why the price drop on a house like this that is so palatial, again on 28 acre is in the midd of horse country in new jersey, bedminster, and it's because of the salt issue. remember, 47 grand is your annual tax bill on this place and you can only deduct $10,000. that's what happened under the trump tax plan. let's go ahead and go inside. i want to show you a few of the extra things. here we are, this is the sunroom. this is pretty nice. this is where you can sit and look out over your 28 acres and actually sit and have a little cup of coffee, glass of wine. then i want to take you into what is the main dining room. again, lot of small rooms in a

very large 11,500 square foot home. i want to show you right now, i will leave you with the dining area. there you go. the final piece but much more to come on fox business. stuart: yes, indeed. it's gone from $6 million to just $3 million because of salt. what a deal. thanks very much indeed. the dow industrials are now up 125 points. 26,946. now this. what would an elizabeth warren presidency mean for your money? our top market watcher says a president warren would be a disaster. he will make his case after this. ♪ 2,000 fence posts.

900 acres. 48 bales. all before lunch, which we caught last saturday. we earn our scars. we wear our work ethic. we work until the work's done. and when it is, a few hours of shuteye to rest up for tomorrow, the day we'll finally get something done. ( ♪ )

...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. stuart: we just keep moving up ever so gradually. now we're up a full half percentage point. that is 136 points up for the dow jones industrial average. i would call that a successful market day thus far this monday morning. success is a theme on this program and a theme on this network. we have been all day long talking about the american dream because all of us round this table are part of it. guess who is also part of it?

anthony chan. he's with us here. you used to be top economist at jpmorgan? >> jpmorgan, yes. 25 years. stuart: you were king of the hill. but you didn't start out as king of the hill. >> no. i grew up in the poor housing projects in new york city. my mother cleaned office buildings. my dad was a waiter. poverty was a way of life but they both worked hard and they told me to continue to work hard. i was the first person in my family to graduate from high school, first person to graduate from college, first person to get a masters degree, first person to get a ph.d. in economics in my entire family. in fact, at one point my family said maybe he doesn't want to go to work, that's why he continues to go to school. stuart: did you get a lot of pushback because of who you are? did they say you're from the projects, you're from this group, you're from that group, did they push back and say -- because i find it so depressing that people try to stamp on you and put you down. >> absolutely. you hear it but i just didn't listen. i basically had a goal and i just kept going and my goal was to be on your show and i'm here.

stuart: that's not true. i have known you for 30 years. i remember talking to you back in the days of cnn. >> that's right. stuart: back when cnn was a success. >> that's right. but i'm happy to be here. i'm happy with the american dream. stuart: but you could not do what you did in most other societies. some, yes, but most not. you could not do it in a socialist economy. >> i could not. that's why i love this country so much. it's given me so many opportunities and i hope we continue to do that. i know it's a challenge but i hope we continue to do it. it works. stuart: let me ask you about the state of the economy at the moment. slowing down a little, i got that. do you think it's going to pick up for the rest of the year and we've got some hope of that? >> the short answer is it will, if some of these dark clouds get lifted. right now, we have the trade uncertainty, we have global economic growth slowing down, central banks are coming in and maybe even fiscal policy, watching germany very very closely because germany, the biggest economy in europe obviously is slowing down, but there's talk, the possibility of

fiscal policy. we know central banks have done as much as they can. stuart: europe is a museum, a socialist museum, living in the past. that's my opinion. what's yours? >> my opinion is that i hope they get saved and i hope they get reenergized but for many years it's been a big challenge. stuart: i have one real fast question, if i may. tomorrow, october 1st, big demonstrations planned in hong kong. it is the 70th anniversary of the founding of the peoples republic of china. if there's real violence, a nasty crackdown, is my money affected? >> i think all money is going to be affected because financial markets will hold that a little negative. hong kong grew at 3% last year. this year we will be lucky if they grow at 0.3%. the hope is next year this will simmer down and hong kong can start growing by more than 1% next year. stuart: good luck with that. the american dream man, another one. thanks for joining us. good stuff. let's get back to what's going on here in the united states. elizabeth warren is indeed

surging in the polls. she's overtaken joe biden in some key states. that has wall street worried. david nicholas is with us, president of nicholas wealth management. david, i just want to suggest, let's suppose that elizabeth warren just gets the nomination, not whether she wins the presidency or not but gets the democrat nomination. do you think our money would be affected? would wall street sell off? >> well, it's a very real threat. let me give you real life i see day-to-day. we advise clients daily and i have clients today with one of the best economies in the world, ready to pull their money from the market. i have to reassure our clients our economy is well, earnings are great. i can't imagine if we have a nominee like elizabeth warren or another pro-socialist nominee, the fear that will be inflicted just on regular everyday investors because we think it's the big institutions that move markets but really, it's the vast majority of retirees and retirement accounts. it doesn't take much for those type of investors to get

fearful. even if we have a nominee like elizabeth warren i think you will see market selloff. i did a calculation. in the first year if we do have a socialist type candidate like elizabeth warren, if we sunset the tax laws and regulatory changes to fortune 500 countries, we would see a selloff of 30% in the first 12 months. stuart: that would take us all the way back to about 18,000 on the dow which is where we were when president trump was elected. you know, i don't want to do a paul krugman, if you remember paul krugman on the evening of the election of donald trump said the market's going to crash and may never recover. i don't want to do the same thing if elizabeth warren is president or is nominated, the market's going to crash. i don't want to do that but i think it's worthwhile pointing out the real concerns among investors about a socialist nominee for the democrat party. that's what you're doing. >> absolutely. if you just look at some of her

proposals like her economic patriotism proposal, it would essentially attempt to crash the u.s. dollar which is in her words, to make our exports more attractive. if you look at her accountable capitalism act which really should be the destroy capitalism act, it would require the largest u.s. companies to apply for a federal charter just to operate. so we essentially have to ask queen elizabeth if it pleases the crown, may we operate our business and if she obliges we have to guarantee that we will pursue economic and social justice over profits to shareholders and creating good products. there's no economic risk for the markets right now. the risk right now for the markets is the election of 2020 and who the candidate will be going into next year. stuart: thanks very much for joining us, as usual. see you again real soon. i want to talk about tesla for a moment. their chief elon musk, he's unveiling again, this guy goes for the headlines -- ashley: where does he get all the time? stuart: he's got a new rocket.

tell me. ashley: this is the next generation, if you like, rocket called starship. looks impressive, kind of stainless steel. sleek indeed. this is very symbolic. it's not going anywhere any time soon unless you believe elon musk who says within six months they could start testing the real ship going up about 65,000 feet into orbit and then bringing it back down and landing it, which we have seen before with his spacex rockets. he wants to do that first. he says ultimately, the starship here is going to transport passengers, hundreds of passengers to either the moon or mars. that's the long range goal. quite fascinating. this is in texas, by the way. stuart: would you do it? ashley: no. stuart: no, thank you. neither would i. liz: very flash gordon. stuart: you're in this story. pop star miley cyrus, maybe i should say pot, p-o-t star. she's wading into the cannabis

business with a new cafe? liz: yeah, seats 220. you can smoke a joint in the cafe but you know, instead of smoking it in your car in a back alley. she's going to have thc and cbd infused drinks and food. no booze, though. it's against the law to serve both booze and pot. watch this. they will have an air infiltration system to stop a nimbus cloud of pot smoke going into traffic. i was trying to find the menu, would it have oreo cook wiies a cake on the menu. it's the end of pot prohibition. stuart: nachos. liz: there you go. stuart: this from california. oakland county jail, it's closed. but the air conditioning is still running. how much that cost? ashley: $83,000 a month, about $1 million a year. this is to keep the heat and air conditioning running. it's completely empty. it was shut down but they don't know what the heck to do with it so it's a 20-story detention

facility and alameda county, they say we haven't decided what to do with the building and while we do that, we will continue to heat and cool it with no one inside until we do. stuart: if you don't do it, you get mold. ashley: that's true. liz: know what the problem is, they want more and more and more of your tax money but there is so much government waste. empty government buildings littering the landscape and they have never learned how to sell it at the top of the market. stuart: you got your two cents' worth in. well done. i have to move on to wework, as we reported last hour. they decided to postpone their ipo. now, in a statement, the company says it wants to focus on its core business. wework will still plan to go public in the future, not just right now. i'd say to both of you don't hold your breath. liz: troubling issues. extremely troubling. stuart: with a background like that it's hard to say they would raise that. liz: they have to do way more proving to the market that they can come in without the fcc

bearing down on them given all the conflicts of interest. stuart: democrats going full steam ahead with impeachment. what's the end game? lou dobbs will tell us because he's coming up next. today, yes, it's a big day on fox business. we are celebrating success and investing in you. the dow, by the way, is at virtually or real close to an all session high. we'll be back. ♪

stuart: high of the day, market alert. now we're up 152 points for the dow. we're up 44 on the nasdaq, 17 on the s&p. i'd call that a successful day for investors thus far. however, we better get the latest on the impeachment push

hanging over all of us. senate majority leader mitch mcconnell just said he would have no choice but to take a look at impeachment if the house votes to charge the president. well, just look who's here. the man i've known longer than any other person in the united states of america. that man on your screen, lou dobbs, host of "lou dobbs tonight." welcome back. >> an honor to be back. stuart: i have known you for 40 years. you realize that? okay. look, i did an editorial top of the 10:00 hour. i said this impeachment push was motivated exclusively, almost entirely by hatred, hatred, emotion spilling over, the hatred of this president. i think it does real damage to our politics, our economy, our society, our culture. i think it's an awful thing. >> i think those things are all potentialities we have to be aware of. i think we also have to be aware

that not only is there hatred here but raw naked lust for power and a democratic party that has become the party of hate that knows it cannot defeat president trump in 2020, and just as they had an insurance policy and designs on this president as a candidate and tried to block him in every way they could and rolled out plot after plot, and then something called a special counsel to defeat him when he was president to subvert his administration and his policies. we now have impeachment, going into what will be the final year of his first term in office and all they had to do was wait a year for the voters to decide but they know how the voters will decide and they mean to carry out an overthrow of this president just as they have from the time he ran for the office in 2015.

stuart: i think it would be a dismal failure and a dismal failure for the democrats. >> unlike you, i'm not particularly hurt, concerned or bleeding for the democrats who have proved themselves to be abject liars, to be absolutely bereft of any sense of responsibility. look at what they've done in the first nine months of this year, taking power in the house, they have not passed one single constructive piece of legislation, let alone partnering with the executive and the republicans in the senate to do anything in public policy that is directed at the national interest. only this president acting on his own with great ingenuity in many instances, i'm referring to funding for the wall, applying tariffs, threatening to apply tariffs against mexico and the iron triangle, to make certain they are taking a responsible view of border security for themselves and for us.

the next thing you know, manuel lopez obrador who swore he would never help this president, would never put troops on the border, has 27,000 of them on the northern border with the united states and 6,000 on the southern border with guatemala. it's a beginning of a new, new era for central america and the united states. stuart: we have been talking a lot on this show today about the american dream. i would like to acknowledge your role in my american dream. i worked for you from 1980 until about 1998. >> awhile. stuart: it was awhile. that's right. you were in charge of business at an alternative network. >> turned out to be more alternative than real. stuart: sure did. you helped me on my way. i want to thank you very much indeed. >> i want to thank you for being both a great colleague and a great friend through all those years and these years. stuart: okay, okay. you're living the american dream as well. weren't you a marine? >> i was in the marine reserves.

i was also a poor country boy from texas, raised in idaho. i didn't have a pot to -- i think we did. this country has been very, very good to both of us. stuart: you went to harvard, didn't you? >> i did. i didn't know where the hell it was but i knew one thing, they had given me an ample scholarship that i wasn't about to turn down. stuart: the american dream is not dead. >> we've got people trying to kill it. by the way, they are the same people foisting this impeachment nonsense without voting, mind you, but the other part of it is this is a referendum by the investors in this country on the prospects for that impeachment, they are saying the democrats are crazy as hell, acting irresponsibly and haven't got a chance in hell.

that's because we are at session highs. stuart: yes, we are. >> more highs ahead. stuart: great to be on the show. have you on this program. don't be a stranger. 11:00 in the morning is not too early for you. >> i'm almost awake. stuart: watching you tonight, by the way. "lou dobbs tonight" at 7:00. thank you, lou. good stuff. yes, it is a big day here on fox business. even our website got a revamp. right now, the top story on the new foxbusiness.com is a story we broke here on this show today. lauren simonetti will tell you all about that story, next. ♪ - in the last year, there were three victims

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♪ stuart: yeah, i know it. that is the imperial march. of course, that's "star wars." ashley: play that every time you come in the studio. stuart: okay, okay, okay. what you're seeing on the screen now, that went up for auction in los angeles over the weekend. i've got two questions. first of all, what is that? the audience knows.

how much did it sell for? liz: about $900,000. all in, $1 million with the fees. that's darth vader's iconic helmet. it is made of fiberglass and foam. it is a rare, rare artifact of "star wars." it's the holy grail of "star wars" movies. it's a helmet he wore when he revealed he was luke skywalker's father. stuart: a million bucks to get that. there you go. next one. your screen of course does look a little different today. that's not the only thing that's changed. not just your screen. foxbusiness.com has an all-new look as well. lauren simonetti will tell us the top story is one we broke. lauren: it is, stuart. as i manipulate my mouse, california law, california will be the first in the nation to allow college athletes to get pa paid. when other people profit from their names and athleticism, they can, too. so that happening in the next couple of years in california.

also, work with me right now, coming a little to the right, you see the market, it's official. wework's disastrous ipo is dead. it was a bust effort to go public, cost the ceo his job. investors cooling off to the ipo market. that's one of the hot stories. as i come up to the top here, see real estate pretty clear, crisp tab on this site. i want to show you my personal favorite story. speaking of the american dream, look at what you can get for your money in houston. look at these properties. if you click on this story, you see some beautiful homes. want to go swimming in that pool? stuart: it's very nice. an interesting new look, especially. that real estate business, that has my attention. lauren, thank you very much indeed. foxbusiness.com. more "varney" after this. ♪

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stuart: not quite the high of the day but certainly a very solid rally. now we're up a half percentage point, about 140 points. the dow is at 26,960. which means we're roughly 400 point away from the all-time closing high for the dow industrials despite all that is going on in the background, specifically the impeachment drive and i suspect that hong kong could play a role in our market tomorrow. why is that? because tomorrow is october the 1st. there will be sizable demonstrations in hong kong against the founding of the

people's republic of china 70 years ago. this is a very big deal in asia. this is china's signature mark, if you will. the revolution, 1949, the communist party takes power, 70 years later they want to celebrate it in hong kong. they might not be able to. >> we'll have general jack keane on "the evening edit" talking about that. stuart: jack keane he is on your show? >> yes he is. stuart: i should tell everybody liz has a show of called "the evening edit." it is not a spin-and-a-half of this program. tell me again, you've jack keane? >> we have jack keane and hamil haddad, we'll talk about the push to unload real estate dropping because of the tax deduction in the news. doing away with the s.a.l.t. deduction hit the news. the judge rejected a push back on that. stuart: so salt stays. >> that is a big deal. stuart: in neil's show moments from now he has mark cuban on

his show, billionaire investors, investor i should say, the owner of the dallas mavericks. quite a guest. a get in the news business. neil, my time is up. it is yours. neil: i went to the old studio, where the hell is everyone? apparently a different studio. stuart: right. neil: thank you very much. i love the new look of our network. time for freshening up, i'm staying the same for bet or, it is what you get. this impeachment inquiry continues to rev up. the markets continue to slough it off. we're all over this tick by tick with dallas mavericks owner mark cuban. we have billionaire investor ken fisher, how investors deal with all the uncertainty. so far pretty well. former heinz ceo bill johnson how china could be waiting all