deirdre? >> watching earnings and this week, netflix has my attention, on wednesday. first of the fangs to report. focused on tech media. curious to see how they're holding up. any cash burn they have to compete with apple and disney plus and everybody else. maria: thanks very much for joining us. "varney & company" begins now. charles, take it away. charles: i'm charles payne in for stuart varney. boy, do we have a show for you. yes, it is all about your money. let's get started right there. futures rebound slightly, the market still trying to digest this partial trade deal. will prevent the next round of tariffs from going into effect but after that, there are reports that china says it wants another round of talks before signing phase one. optimism is fading a little bit there. the other big story affecting your money will certainly be earnings. we have a lot of them from financials to netflix. the big political story, the democrat debate tomorrow. bernie sanders will be returning to the stage and is even going after elizabeth warren, claiming she has capitalism in her bones.

imagine that. the president meanwhile will be heading to dallas for another rally this week, doubling down on his pledge to bring jobs back to america, as a new louis vuitton factory gets ready to open. texas is open for business and so are we. we are watching it all. "varney & company" starts right now. there's execution work to be done on the document, but this document is substantially done. we made a lot of progress, and our expectation is this will be concluded and signed by chile. charles: that was secretary steve mnuchin moments ago talking about phase one trade deal that's getting ready just in time for apec, the meeting that will be held next month in chile. china reportedly wants more talks before the deal is signed. i don't know. i think it's normal. people are interpreting that as a red flag. susan: we heard about this on friday, by the way. they said it will take maybe

four to five days to get this signed and worked up into ink at this point. take a look at the rhetoric in the mainland chinese media over the weekend. they don't think this is a done deal. in fact, the china daily itself says let's not open the champagne just yet. i think there's still a lot of things to work through at this point. there might be a bit of a second thought for wall street given that we have futures down and 200 points were erased in the dow 500-point rally on friday. charles: looking like we will give up about 50 points at the open, 60 points at the open. susan: i just want to note that president xi as well had some pretty strong words over the weekend. he was talking about warning efforts to divide or destabilize china will end with shattered bones. they usually don't use that strong of rhetoric, by the way, from the chinese president. you usually don't hear that because there's mounting international pressure when it comes to the handling of the protests in hong kong, also what's happening with the uighurs and the widespread crackdown on muslim minority groups. it sounds like he's racheting up the rhetoric as well talking

about crushed bodies and shattered bones. charles: maybe he's feeling pressure, too, from inside and outside the country. want to bring in on this trade situation, jack hough with barron's. the market of course still very sensitive to what happens here, jack. listen, i think, listen, it's an arrangement, potential truce, an arrangement, not a deal. i think president trump shouldn't call it a deal because he invites scrutiny because to me, this is chapter 13 in a potential 26-page, you know, saga, if you will. but certainly no one thinks this is the final part of it but it does change the tone potentially. >> i don't want to pooh-pooh the phase one. i'm happy for the phase one. things aren't getting worse and that's good. that's what the market wants to see right now. the actual numbers here, this isn't going to be big upside for the economy in terms of a direct impact to gdp, but all investors need to see is that the relationship with china is not going to continue to become more confrontational, get worse from here. i think this could set the stage for better things. charles: imf came out last week and said next year this trade

situation will hit china's gdp by two percentage points, the world by i think .5% or .7%. the point is there is pressure on both sides, particularly china, to get something done. so i think everyone recognizes that despite the bluster and saber rattling. >> for sure. if it's a .6 effect here, i saw one estimate, the phase one deal is .1 of a help so just to give people some numbers to put on it. you know, it's a start. charles: it's a start. now wall street has paused, to susan's point. we were up 500 points, you know. the reports, there were so many bad reports, so many bad media reports last week. nevertheless, it sounds like it's adding to the confusion here. if you are wall street, you kind of feel like okay, you factor in the december 15th hike? the new tariffs? i don't think they are going to go on. >> i don't think wall street is

factoring it in now. people will see not a lot of growth this quarter but investors are forward looking. comparisons get easier next quarter and certainly next year, earnings begin growing again next year, most likely. i think investors will take good news from that. charles: so far, 23 s&p companies reported, 90% beat on earnings. let's hope that trend stays up. the fact is, the point i really want to make is we are always bracing for a tough earnings period, it feels like, then so far, it hasn't lived up to the hype. even if it does, perhaps there will be more -- you think wall street will be more inclined to look beyond the third quarter numbers toward 2020? >> the expectation this quarter is for a 4% decline. it's not going the happen. you will get flat earnings. the expectation next year is 10% growth. it's not going to happen. they always get too high for the distant future. you will probably get 5%, 6% growth. enough to keep the market growing. charles: the word is growth. netflix of course is one name

everybody is looking at. they report on wednesday. the company got a big plus saturday night when "stranger thing things." roll that tape. >> look, it just appears. it's upside down, man. >> just like my show. look, whoever's buying these might need my help, okay? i'm going in. >> be careful. charles: just a big coincidence? susan: i don't know. "stranger things" is one of the best shows on netflix, very popular. netflix does report on wednesday. so they have this rabid fan following for "stranger things." last quarter, netflix said we expect five million additional subscribers but only got 2.7 million. if they have a decrease for the second quarter in a row, that's poison for netflix. now they have new competition coming from disney and apple.

management probably wants something on the call to say going forward, we have this, this, this and this no matter what the numbers are, but "stranger things" is certainly a hit. charles: netflix last week had five brokerage opinions, two downgrades, three upgrades, most lowered their targets. this morning, yet another downgrade on a target. wall street adjusting the targets but still, everyone sees the stock going higher from here. >> people are falling out of love with story stocks where they are burning cash today like netflix is and expected to make cash tomorrow. i totally agree. netflix will be the most exciting earnings report of this season. look out below, you cannot go into this increased competitive environment in streaming with a miss before it even starts. charles: yeah. well, one of these things, the ceo has a history of ov overpromising. >> he does. charles: that's when he delivers and the stock goes up. jack, thanks very much. appreciate it. talk about sticker shock.

billionaires could face -- jack, you might want to listen to this -- a tax rate up to 97% under bernie sanders. here we we again. this is beyond soaking the rich. susan: it sounds good, doesn't it, great campaign pledge but sanders and elizabeth warren, both have been talking about taxing the rich. under sanders, it would be around 97.5%. under warren, it would be over 62%. both of them have a wealth tax that they want to propose. for elizabeth warren they want to levy anybody with $15 million in wealth. not income, wealth. you have to pay 2% in taxes going up to 3% on $1 billion. sanders, meantime, says he wants to tax 1% on those above $32 million in wealth and goes all the way up to 8% for $10 billion. charles: elizabeth warren is going to be under pressure to move she's mo prove she's more of a socialist than sanders. you got to confiscate wealth, you better do it the right way. lauren: isn't that crazy?

bernie sanders called elizabeth warren a capitalist. think she's shaking in her boots right now, oh, no, i'm a capitalist to my bones. her tax plan calls for 62%, mild, as susan said, compared to the 97.5% under bernie sanders. right now it's 23%. either way, the rich are getting soaked. this estimate, it came from two berkeley professors, says that under the sanders plan, we will cut the number of billionaires in this country in half. in 15 years. charles: interesting to see what it will do to people who are decidedly not billionaires. i think it will hurt them more. queen elizabeth laying out her government's plan for the coming year today in an address to parliament, saying great britain leaving the european union by october 31st was a priority for the government. she also addressed a number of domestic issues that have been eclipsed by brexit since the vote in 2016. early this morning, we were up 100, then down 100. we have been sort of meandering a little. you can see the dow looking like it would open close to 64 points

off, meaning wall street is digesting and bracing for a whole lot of things. dow component apple, get this, folks, shares are up almost 50% this calendar year, near an all-time high. it's been on fire. coming up, we have the guy who says it's going to actually go higher and it's all because of the iphone 11. then politics, in-fighting with democrats starting to get intense. you will hear what bernie sanders, we just talked about this, you will hear from the man himself what he had to say about elizabeth warren, next. also, the battle between the nba and china continues as houston rockets player james hardin now says he's staying out of it. remember it was the houston rockets general manager's tweet that started all of this. up next, former nba all-star al harrington.

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(alexa) added "ukulele" to band shopping list. ♪ (nationwide jingle) perfect. peyton, what are you doing? nationwide's teamed up with amazon to bring you the all-new echo auto. you're gonna love this. alexa, add "xylophone" to band shopping list. (alexa) okay. we don't need a band shopping list. alexa and i disagree. alexa, add "positive attitude" to band shopping list. (alexa) added "positive attitude" to band shopping list. that's for you. you need it. join nationwide now and get a free amazon echo auto. charles: senator bernie sanders slamming senator warren. roll tape. >> well, elizabeth considers herself, if i got the quote

correctly, to be a capitalist or both. i don't. the reason i am not is because i will not tolerate for one second the kind of greed and corruption and income and wealth inequality and so much suffering that is going on in this country today which is unnecessary. charles: all right, company. sounds like he's describing capitalism as a bad thing. here's a man who just had, you know, a heart attack, he was treated, he's back on the campaign trail, lives very well. you know, when they talk about capitalism in america, i just feel like it's a country i have never been to. lauren: he's coming back and trying to paint himself as very much the socialist who is out against corporate greed and to him that's capitalism. he's also announcing, if you are a company, first of all he's restoring the 35% corporate tax rate but if you lose your job to automation, we are going to give you stock in the company. he's doing everything he can to portray capitalism as bad. that means his closest opponent, elizabeth warren, i guess is a capitalist. susan: it also shows how far

left you have to swing to be a democratic primary but he also has an inequality tax. if you are a company that pays your ceo 500 times more than your average worker, you have to pay 5% more than the corporate tax rate. but you know, i think he has a point because elizabeth warren is the founder of the cfrb, consumer -- charles: elizabeth warren calls herself a capitalist. but the idea capitalism can become a four-letter word in america and be this successful as a political platform is very frightening, i think. it's not to say that capitalism like anything else doesn't need a facelift or, you know, can be improved but this is nuts what's happening right now. lauren: the far left is painting capitalism and the idea of being rich as immoral. charles: absolutely. let's go to the nba, because that's a picture, we will put it up, from last week. these are workers in shanghai taking down a billboard advertising the nba's preseason there.

meanwhile, tencent still airing nba games in china even as the tv government blackout continues. james hardin says he will stay out of it. it was the houston rockets' general manager's tweet that started all this. former nba player al harrington joins me. we talked last week and i got a lot of feedback from our interview. lot of people were upset with you. i want to set the record straight because you told me you supported the general manager from houston, his tweet. did you support that? >> yeah, i supported it because freedom of speech. obviously it was just a tough situation. he was in china and he sent out a tweet like that of something that he probably didn't just understand, obviously, you know, the -- charles: what part didn't he understand, there were millions of people who didn't want china's abusive government system to be -- you know, to hurt them or they didn't want to be extradited from hong kong to china? what part of it do you think he got wrong?

>> i think that it wasn't his business to speak on it, especially with the nba being over there at that time. i think it baswas bad timing fo him to actually speak on it. charles: the nba can speak on president trump, they can speak on trump voters, they can speak on a lot of different things, nike and all these other folks can really say hey, you know what, sacrifice, make a sacrifice even if you lose everything, but they draw the line when it comes to human beings in other countries? >> yeah, i mean, that's tough, man. people can always make -- have an opinion on things when it doesn't affect your life. a lot of players, especially the nba, they put a lot of money, energy into making an investment in china, establishing great relationships, and you know, you don't want to see it all crumble down because of one tweet. charles: no, you don't, but i'm glad you're getting to the point there. they're kind of saying hey, you know, we can have an opinion, certainly in america it's a first amendment right, but we want to draw the line if it hurts our own pockets and wallets.

does that hurt or diminish them then when they critique social issues in this country? do they have any credibility if they draw the line when it comes to their wallets? >> yeah, i think so. i think they still have credibility. i'm one of the people that believes you speak on where you're from, where you're at. you know what i'm saying. you speak on things that you can actually control. even with him speaking on that tweet, i'm not understanding what could he have really affected by making a statement at that time. charles: but hong kong has been flying the american flag, singing our anthem. they have gotten so much inspiration from our country, so those things kind of give people who are seeking freedom, not just in hong kong but around the world, knowing hey, you know what, there are people out there who successfully gone through these things. we had a civil war, we had civil rights actions, and they look up to us. is there anything wrong with saying hey, you can look up to us, we want to be your inspiration? >> no, there's obviously nothing wrong with that, right, but once

again, like i said, there is business, there's a business aspect of this and like i said, the nba in china has been doing business for a very long time, growing a great relationship, and i think this is just a really tough spot that they're in right now. but i think over time, they will be able to figure it out. i'm not sure exactly what the solution is right now but they are going to have to figure this out. charles: thank you very much, man. good seeing you again. another winning weekend for "joker." lauren, tell us about it. lauren: okay, another $55 million at the box office. if you look at it, worldwide haul, just 12 days out, about $550 million. you smell a billion coming, maybe. charles: yeah. yeah. lauren: it only cost $65 million to make. so that was pretty low budget. it got an eight-minute standing ovation when it first launched at that film festival. lot of controversy, especially here in the u.s., but people are going to see it in big numbers. charles: have you seen it? lauren: no. i can't wait.

charles: it's remarkable although the last scene, the corporation made them put that last scene in. company management. anyway, overall -- susan: does it deserve all the criticism? charles: i'm going to be like al harrington. we will come back and talk about remarkable, up 50% this year, apple has add more than 500 points to the dow in 2019. we have a guy who says it's going to go much higher because of that new iphone 11. ♪ 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. ♪ liberty. liberty. liberty. liberty. ♪

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don't miss our weekend special! the queen sleep number 360 c4 smart bed is now only $1,399. plus 0% interest for 24 months and free premium delivery when you add a base. ends monday. charles: take a look at apple, folks. it has been on fire. our next guest says the stock still has room to run. joining us by phone, apple analyst michael watley. state your case, please. >> yeah, thanks for having me on. our team put out survey work and it continues to show much better sales of the new iphone 11 products than we anticipated. we believe strong iphone sales should drive the shares higher. what we have noticed with apple's stock, when the rate of change or revenue growth for iphones starts improving, that usually drives the share higher and we think with kind of the weaker sales last year versus the new phones doing well, we expect that rate of change to start improving to drive apple shares higher. combine that with the services growth continuing -- charles: what did you change your target to? what's your target now?

>> our target is $260 which would be about 1.2 trillion market cap based on roughly 15 times our calendar '21 earnings. charles: all right. thanks a lot, michael. everyone on wall street seems to have gotten this one wrong. look at that chart. this stock has been taking off. people just love that phone, i think. i think that's what it's been. all right. more "varney & company" when we come back.

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charles: all right, folks. quick look at the futures as we get ready for the market to open. we will be down just a little bit, perhaps, as the cautious comments being reported on out of china with respect to the potential trade truce. of course, trade of course is still something we are all worried about in total here and it's the name of the game. want to bring in the company here as we go to the opening bell, less than a minute to go, this market has been range-bound for awhile and it's been a variety of things. i think though, we will probably look really not just towards earnings this week but don't forget the federal reserve meets later on this month. believe me, that looms very very large. lot of people underestimating how big that's going to be. susan: yeah, that's in two weeks' time, we will get the federal reserve meeting. i still think it's half the market now because of that rally and china trade deal on friday, it's down 15% or so, 16% we will

get a rate cut. that might have an effect on broader wall street. lauren: i think morgan stanley and goldman sachs are both saying tariffs are still on the table, that's spooking investors as the bell rings. charles: if anybody is in this market, i'm telling you, i would not think december 15 is going to happen. you can hear the market is ringing. take a look at the bottom right of your screen. you can see we are populating the boards. caterpillar, perhaps the most sensitive of the china stocks along with boeing, down. on the other end of the spectrum, procter & gamble, nike, visa, coca-cola, consumer oriented names, consumer staples or durables doing well. susan li and lauren simonetti with is this morning along with keith fitz gerald. you think the market will be focused on china even this week and even with earnings kicking off. what else can we get from the china situation? feels like for now that's going to be on the back burner.

>> well, tell you what. here's why they want it on the back burner, charles. they want a distraction so they can focus on hong kong, absent any external influence. you saw president xi's language ramp up over the weekend. the market technically was ahead of itself on friday. all told, china doesn't want an agreement. what they want to do is draw negotiations out so that we fight with ourselves. i think that translates into weaker market conditions this week. susan: i will borrow a term we used during the european debt crisis, kick the can down the road. that's pretty much what we are seeing. there you go, right? even chinese mainland media over the weekend says let's not uncork the champagne just yet. still a lot of details to be worked out and not a lot in terms of the main issues we have been talking a lot about, whether it's i.p. protection or market access. the devil's in the details. both sides need a deal because of the slowing growth we are seeing in china and the u.s. as well. charles: steve mnuchin says it includes some i.p. protection, certainly greater access to the

markets physically for american financial companies. lauren: starting in april of 2020. charles: we saw paypal make a big acquisition two weeks ago. by the way, we don't talk about ideas they are giving us. they need food and financial services. there's an aspect to this i think we forget about sometimes. it's not like anyone is giving anyone anything. lauren: that's why, you know, the markets were very giddy on friday, oh, you know, china right away is going to make all these farm purchases which is great for farmers in the country but they need the food. they need the food there. like they need our business for their financial sector. charles: yeah. you need medicine, you need food, you need a whole lot of things. keith, here's the thing. i don't know that anyone, listen, the calculus has been that when biden was really leading in the polls, china wanted to hold out until then. maybe those things can change. certainly a president warren would be -- could be a lot worse than president trump. president trump wants a deal. he wants to get to a deal. i'm not sure that president warren would want to get there.

also, since the economic damage, we are looking at gdp numbers coming in for china later on this week and they could go below that 6% number which could be a red flag for some people, keith. >> well, i think it's going to be a big red flag but here's the interesting thing. the calculus we are putting into the equation is uniquely ours, charles. they don't care about the economic impact of these trade tariffs if hong kong is still a problem because that's a territorial challenge and they view that very differently. charles: stay right there. i want to get back to these big banks that are kicking off earnings season before the bell tomorrow. susan, you've got that. susan: yeah, that's right. it's going to be a huge week for bank earnings. we are expecting i think broadly for the s&p earnings to be down about 4% which would be third quarter of lower expectations for earnings for these large companies but banks will be the tell-tale sign because it's a pretty good proxy for how the u.s. economy is doing, these

bank earnings, jpmorgan chase, goldman sachs, wells fargo reporting on tuesday. bank of america follows up on wednesday, morgan stanley on thursday. as you know, when the fed cuts rates, that's when we call these net interest margins, meaning how much did the bank make when they dole out loans and while they take in interest, that margin narrows when the federal reserve cuts interest rates. it will be interesting to see how much they still make in profit in trade, especially with the blowout wall street year that we've seen and also, just their outlook for the rest of this year since we are in a manufacturing recession, do they still have as optimistic an outlook for the next two quarters. charles: be good to see if banks live up to the hype because they haven't for a couple years. but the individual name that will shine the most is netflix. everyone is trying to figure out what will happen with netflix. lauren: on wednesday, pop the popcorn. if you look at the fang stocks, netflix is the n, in fang, it appears they are all up in the

double digits, netflix has some proving to do. in the last quarter they saw their subscriber growth miss by a wide margin. if we have another deceleration for this quarter, that will look awfully bad for this company which is pouring money into new content to compete against new players in this space, primarily disney and apple which are about to launch their own streaming service. charles: netflix up almost 3.5% last week and got another downgrade this morning and is up again. interesting, money is flowing into the stock despite everyone saying be cautious. lauren: wedbush is very positive this morning. they are upbeat on the numbers. charles: you brought up fang. let's bring up facebook. because some big names are now dropping out of this libra crypto project. in fact, all on the same day. you have this story as well. lauren: yeah. this is an interesting one. so today, the libra association was supposed to gather its members and come with a commitment. instead of a commitment, right ahead of the meeting, you have visa, mastercard, stripe and ebay quitting the association.

this is a blow for facebook which wanted to launch the cryptocurrency and wanted help from these companies while doing so. you look at some of them, mastercard, for instance, they have experience with regulators, and they are probably saying we have this experience but right now, our experience is telling us to stay away. charles: all the regulators on both sides of the aisle are worried about that one. elizabeth warren meanwhile targeting facebook's chief, mark zuckerberg. she put out a fake political ad, right? susan: right. it will be interesting to hear what mark zuckerberg has to say when he testifies on october 23rd in d.c. yes, interesting that elizabeth warren's campaign trolling facebook. so the campaign basically issued what they called a fake ad over the weekend, the facebook page basically had a headline saying breaking news, mark zuckerberg and facebook just endorsed donald trump for re-election. when you look through it, it actually says surprise, this is actually not real. then we have facebook taking to twitter and defending their act, saying hey, it looks like broadcast stations across the country have aired this ad, this

ad that donald trump, the campaign, issued last week, more than 1,000 times as required by law. and they say the ftc doesn't want broadcast companies censoring candidates' speech. so you know, elizabeth warren just tweeted back saying you are making my point here, facebook. it's up to you whether you take money to promote lies. as you know, elizabeth warren has threatened to break up facebook and other big tech. charles: her beef also with facebook and mark zuckerberg seems to have gotten personal since that thing was leaked out. his comments about her. boeing, by the way, making a big move. their chief has been removed as chairman. that's after the two deadly crashes with the 737 max. of course, the raft of problems that have followed. there's no doubt he was very clumsy at least on the public relations aspect of this and maybe, maybe on the way it was rolled out. susan: i think it was interesting because earlier this year, boeing shareholders voted unanimously to reject the splitting of chairman and ceo, but this is a surprise move on friday that dennis muilenburg

has been stripped of his chairmanship, blackstone board member david calhoun stepping in. he was former head of g.e.'s aircraft engine business. we have basically boeing losing about $30 billion in market cap since these crashes. we see muilenburg set to testify the end of this month in d.c. charles: i'm one that will criticize a board but i think in this case, the board did probably the right thing. keith, before you go, want to bring you back in. you've got three big names to watch. in fact, you are calling them the big as, apple, alphabet and alibaba. tell us. >> all right. so i'm looking obviously at china and looking at big data and looking at things that are not in the regulators' crosshairs. i think all three of those companies are key buys if you can get the market to cooperate a little bit here. very excited about all three, even in the face of everything that's going on. charles: you own any of them? >> yes, as a matter of fact. family owns all of them, personally do not. and company recommends but does not own.

charles: you're the best. thank you very much. peloton, that stock down 22% from its ipo. now there could be competition coming. we have the details coming up. plus, a retail veteran, jerry storch is with us. he says holiday shopping will be strong because the economy is strong and he's strong, by the way. he will make his case next. in the 11:00 hour, maria bartiromo will join us to talk markets and china. she's not a fan of the phase one trade deal. her input when we come back. introducing even more value from fidelity. fidelity now has zero commissions for online u.s. equity trades and etfs. and fidelity also offers zero account fees for brokerage accounts, plus zero minimums to open an account. and only fidelity offers four zero expense ratio index funds

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also, an italian firm looks to give exercise company peloton a run for the money. lauren: the name of the company is technogym. they have been at this since 1983, building all kinds of exercise machines, ellipticals, treadmills, you name it. now they are being called the next leg of fitness because they are hooked up digitally and selling to consumers as peloton focuses on selling to cruise ships and big gyms so they have more corporate clients. the stock is at $22 this morning. charles: all right. those things are very very expensive. but they're cool. hey, lots of problems for wework, the company. it shelved its ipo and now big investor softbank looking to take control of the company. what's going on there? susan: this company needs cash urgently at this point. their $3 billion ipo was meant to unlock $6 billion more in loans. according the a lot of sources including the "wall street

journal," they say this company will run out of cash very soon, possibly in 13 months at this rate of cash burn. softbank which already invested about $7.5 billion into the company, could be injecting more cash into it, that's if they take full control of the company. that means sidelining adam neumann, taking over his voting shares which have 3:1 rights by the way and for softbank, they were meant to buy about $1 billion out of this $3 billion share listing. that didn't go through. they were going to inject debt of $1.5 billion on top. this was something they wanted, they really believed in this. in fact, they actually wanted to buy this company outright for $16 billion valuation just in the past 18 months, according to "journal" reporting. some would say if you already invested seven and a half billion, you want to protect your interest. charles: protect it but take control because it's a disaster so far for everyone. thank you. only 71 shopping days until christmas and our next guest is bullish on holiday shopping. joining us, jerry storch, former

ceo of toys "r" us. great to see you. you are like my port in a storm, when everyone starts guessing about how bad things are going to be. we just had consumer sentiment numbers out on friday, overshadowed by this trade stuff. it was a remarkable number. i feel the american consumer is confident but also very very wise. they don't get over their skis like they used to. >> the consumer is very strong. they have been strong for a long time. most recent hard data we have show that sales were up 4% year over year in august. we will get september's numbers in two days and see if that rings true. the best predictor of the future is what's going on right now. sales are growing, consumers are strong, they have jobs, they have money. i don't have any idea why anyone would be able to forecast anything but a strong holiday season. i heard people talk about the tariffs and that certainly is maybe not ideal but it doesn't really affect the consumer as much as people are saying. like the latest round of tariffs, the one for december, that's 1% of consumer spending.

the total amount subject to the tariffs. you are talking about 15% on 1% which is nothing. it's not going to affect consumer spending, not even a little bit. i heard people talk about the weather, can you believe that, they say well, it's getting warmer during the holiday season, global warming. even the most strie dedent advos don't mean it will be warmer this year than a year ago. no way to tell that. i heard people say it's a short holiday season but that's old thinking. you don't buy more christmas presents because of a short or long holiday season. people have been shopping well before thanksgiving for a long time now, so they don't wait for thanksgiving to toll the bell to start shopping. there's nothing on the table that says sales should be soft. charles: to your point again, with that consumer sentiment number on friday, 29% mentioned tariffs negatively, down from 36%. 3% mentioned impeachment. 2% mentioned the gm strike. consumers are aware of all the news, but it's not hurting them or impacting them. you just laid out a reason why i

would be concerned. it's all of the stories about worry. think about last december, jerry. we saw incomes go up 1.1% but we saw spending plunge. we saw savings rate explode to the upside even as 325,000 jobs were being created. last december, americans went into a shell. they were so afraid and i think it was because all they heard was recession, recession, recession, every single day they turned on their phones, looked at their smartphones, looked at tv. >> you know i felt this way because of the tariff discussion. whether you believe tariffs are a good or bad idea, all i have been very clear on is there's no way it's material to the u.s. consumer. there may be initial companies that are hit, all the guys come on to the shows from the trade association and tell how it's going to be devastating for the consumer. what they really mean is it's not good for their companies. doesn't mean it's necessarily bad for the consumer. so i can't figure out where the numbers come from. they grossly exaggerate the impact on the consumer and the

consumer basically spends what's in their wallet. again, it matters if the stock market crashed or something like that because that's kind of what's in their wallet. they care about that. there is a wealth effect. by and large, the consumer have jobs and money, they are going to spend. i think some of these stories can on the margin affect spending but actually, i don't think as much as people say. last holiday, you know, people say it wasn't that strong because there was retail sales data that said it wasn't that strong. when you look underneath it, it got normalized over the next few months. i think there was something wrong with that data. charles: i remember that. yeah. hey, always a pleasure. >> the internet's on fire. charles: always a pleasure to hear from you. it's great. thank you very much. >> my pleasure. charles: check some individual names. first, general motors, week five of the uaw strike. workers are going to picket a dealership now and don't forget about roku, those shares have been on a tear this year, up 300%. then there's bitcoin, which is quietly giving up a lot of gains that it had earlier in the year.

now back to $8,000. held above $8,000, though. gold had a pretty good run, gave up some of the gains last week. you can see again, the flight for comfort, safety, gold up $8. then there's oil. oil has been in a serious range. it's been volatile but it's near the bottom of it, $53.07. that means the national average for regular gas now $2.63, unchanged overnight. check the markets overall. dow jones industrial average, we are only off 15 points here. caterpillar weighing it down but on the upside, nike doing extraordinarily well. that's another consumer name. consumer staple. coca-cola, visa is considered a tech name. you got a nice mixup there. all those names in the green reflect what gerald storch just told us. the american consumer is mighty and strong and spending. although not so much on cannabis. take a look at disappointing week. earnings were disappointing, a whole lot of things. now there are people who are concerned about this vaping crisis and maybe a connection to

marijuana. we will discuss that, next. iste? so. let's talk. we're built for hearing what's important to you, one to one. edward jones. it's time for investing to feel individual.

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charles: take a look at shares of drug maker eli lily after the fda approved a migraine drug, and it could actually relieve pain and symptoms within two

hours. obviously that is a huge deal for migraine sufferers. i wish the stock was up more than that. in the meantime, take a look at cannabis stocks because they are coming off a very disappointing week of earnings. could some of this have to do with concerns over health and vaping? i want to bring in dr. marc siegel, because now we are starting to hear, doc siegel, as they analyze these deaths and people have been hospitalized, thc keeps coming up. the use of thc in vaping devices. not the vaping itself. that's making some people wonder, there's more and more concern that maybe, maybe we moved too fast with this legal marijuana thing. >> absolutely, charles. i do believe that over time, concerns about how you can fill that cartridge with anything, you can fill it with all different kinds of amounts of marijuana products and thc which is the active ingredient which is up to 30%, 40% now of it, and they are laced with different kind of chemicals, all that is coming to the public realization. i'm happy about that. but the other problem here is,

and let's look at california, in california, 80% of the marijuana is grown illegally. 14 million pounds. you know what happens to it? 80% of that is exported. you know what other states in the country, illegally, and you know what's in there, those vaping products. that thc you're talking about, the oils, the chemicals. it's all going all over the country illegally. why is the illegal industry burgeoning and the legal industry not doing well? regulation. it's too hard to get a cannabis shop. it's too expensive, there's too much licensing fees. that's why the stocks are down. they cannot compete with the illegal trade. charles: so more regulations but also maybe the ability to enforce the regulations, too, right? >> great point. charles: are you suggesting that maybe if we had a blanket at least medical marijuana provl acro approval across the country, they are able to do interstate banking, maybe this would actually lessen this problem?

>> that's a possibility. something to make it more standard might lessen it. even within california itself, one city regulates different than another city. it's so difficult to enforce. but up in canada, where it is legal across the country, they are still having a problem competing with the illegal trade. so they have to figure out a way to do it that was healthy, where we could market, where you and i could come on here and market it and say hey, if you get it legally, you are not going to get sick. you are not going to get sick from a vaping pen. because most of that stuff is illegal. most of that, again, the vaping cartridges are illegal. so if i could inform medically and let's face it i also want the message out there that marijuana over time, though i think there are medical uses for pain and other issues like seizures, over time marijuana also causes risks of psychosis, risks of not doing well on tests. i want the amount of thc active chemical in marijuana reduced. i don't like this 20% or 30%. i'm all for legalizing it as

long as we can diminish the amount of active chemical. charles: there's a lot to be learned here. lot of people wondering if this whole thing just moved a lot too fast. >> way too fast. and we are seeing it in the market. charles: doc siegel, thank you very much. always a pleasure seeing you. hey, folks, fortnite, you know the wildly popular video game, well, it disappeared. the page for the company blanked, as you can see, it's just a black hole. is this genius marketing? president trump planning a trip to texas this week. this for the opening of a louis vuitton factory there. luxury goods being made in texas. hour two of "varney" just three minutes away.

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charles: 10:00 am on the east coast. 7:00 a.m. out west. i'm charles payne in for stuart varney. check on the big board. but we are up. we were off 120 points pre-market trading.

everyone is trying to hash out the china trade negotiations. this is huge week for earnings. those two factors affect your money all week long. watching democrats ahead of debate in ohio. bernie sanders will turn to the stage he is coming out swinging against elizabeth warren, using capitalism as a dirty word. elizabeth warren took another shot at facebook. the european union collectively condemned turkey's offensive into kurdish territory. we'll take you live on the ground in moments. i want to bring in danielle dimartino booth, former fed advisor. the markets really trying to digest this partial trade deal. i call it trade arrangement if you will. i think it is chapter 13 in a saga that can go on for many

chapters. where are we with respect to the trade situation, how it impacts our economy and the market? >> you're right about the number 13, charles. that is the round we are in. starting to feel like world's longest boxing match here. uncertainty level remains at a very high level. if you remember back on may 3rd, we were close to getting something like that. that fell apart. i will take you back even further. two years ago, the chinese were willing to concede to what they have currently only verbally said and not put on paper. now the only difference between then and now, they're willing to buy our agricultural products, charles, but they need to buy them. there is much different impetus. what i want to know is what the united states is getting in exchange. right now, they're agreeing to something that they desperately need. so i see it being much different motivation on their part. we're still not getting what is critical. that is protections for our

intellectual property. charles: steve mnuchin and president trump said that is part of this. it would take four to five weeks to paper the deal. we heard reports early last week, there would be another meeting. perhaps our trade representative going to china. this we note is a work in progress. on the soybean, agricultural front. china needs to eat by the same token. it helps president trump politically, with respect to the farmers who were deliberately targeted by the way, they were targeted for attack by china. all of that said, it is one of these things where, i don't know that anyone on wall street thinks the big whole deal could be done before election next year anyway. no one factored that in, have they? >> no, i don't think that is being priced into the market at all. charles, i think what the market is most focused on the next coming three weeks we'll have one after another of earnings announcements. right now third quarter earnings are expected to be down almost 5%. that will make the third

consecutive quarter of negative reads on earnings, even as analysts begin to take down the q4 numbers. the best thing that i can say about the election year -- charles: what about negative reads? last quarter, second quarter, earnings came in overall better than expected? >> they definitely have been beating their earnings estimates. but according to fact set, we've seen two negative quarters in a row of negative print. they have certainly been better than what they are. my concern going into the third quarter is that, unlike the first quarter and the second quarter, the numbers have continued to come down. i think that is what is unusual. we're definitely looking for a little bit better print in q4, but in 2020, which will work to the current administration's benefit, we're going to have very easy comparables going into the first and second quarters of 2020. they're coming off of such a low base. charles: these comparables are going against all-time records last year.

we had record breaking quarters. that is how that moves. meantime valuations seem to be coming down. forward p-e ratio is 16.6%. in a range where wall street has to be enticed by this. maybe one factor danielle could be the federal reserve. there was one point last week, i was thinking 50 basis points. there are some things going on in the economy in our financial system. when they're pumping in billions of dollars every single day, it feels like something is wrong. i don't know what it is. this fomc meeting is a chance for them to address it? >> i hope we get more clarity out of fed officials because they go from one week saying it will be an or grandic growth of its balance sheet. it won't be more than 5% of the balance sheet to saying boom, it will be $60 billion a month in t-bills. that will be 96%, charles. 96% of net treasury issuance

over next eight months. if they continue to extend the timeline when they will stop the emergency measures that they're telling us are not emergencies, they will unwind the entire effect of the quantitative tightening campaign they are on. will have the balance sheet exactly back to where it was unwinding it. they keep insisting this has nothing to do with monetary policy. thisthis is one great big technicality. charles: i'm already saying 5 trillion-dollar balance sheet, federal reserve, sometime next year. i think wall street will love it. rest of us not so much. danielle. thank you very much. >> thank you. charles: now this. the democrats will debate in ohio. first time we see bernie sanders on stage. after he suffered a heart attack. i want to bring in brad blakeman, former deputy assistant to president george w. bush. brad, feels like a three-person race. biden, sanders, warren. all of sudden, not biden, bernie

is taking shots at warren, so you know, where are we going here? >> can you believe this? now as predicted the democrats will try to outsocialize each other. bernie sanders says in her bones warren knows she is capitalist. i'm not worried about her bones. i'm worried about her head and her heart. she is as socialist as bernie. we'll see democrats square off. bernie has to show he is back and show enthusiasm and energy. in order to elevate yourself, nice guys finish last. i think you will see scrapping between warren and bernie and in my opinion surrogates. those are third party -- charles: glad you brought that up. before we go any further, i want the audience, folks have not heard this, remarkable what bernie sanders had to say about elizabeth warren being a capitalist. >> there are differences between elizabeth and myself. elizabeth as i know said she is

a capitalist to her bones. i'm not. charles: so who knew, being a capitalist would disqualify you from being president of the united states. who knew? i would like this part you're talking about the surrogates. i felt at the last couple debates the surrogates are lining up, i don't though if people are lining up for the vp position, other candidates on the fringe, taking big swings at those in the front. how will this break down? >> this is episode of "survivor." in the last debate i believe warren and castro had an alliance. the problem castro went too far in criticism of biden, especially his age. congresswoman tulsi gabbard is going to form an alliance i believe because of the last debate she really, really took on harris. charles: she derail harris'

campaign. she single handedly derailed harris' campaign. >> right. we'll see what she does when she appears on the stage. i think alliances are fun to watch. you need top tier candidates start attacking one another. nice guys finish last. they need to start attacking in order to move themselves forward. charles: klobuchar seemed to be aligned with vice president biden. i do want to ask about him. everyone acknowledges that castro went way too far. it was just ridiculous. but he didn't apologize for it. how do they handle biden right now, particularly with the his son hunter being in the news every day. does anyone bring that up? is it too early? >> too early for that. you certainly have to start attacking biden. put him off his game. put him on defense. there is a lot you can work with without going into hunter biden's current problems.

but i think, you know, if somebody want to, i'm talking about now a surrogate, not a top tier candidate, wants to take a swipe at biden because of appearance of impropriety, that would be as far as they go. charles: if you crack that door, brad, that is all she wrote. if someone cracks that open, even suggesting improprieties, families associations, then i think it gets busted wide open? >> i think that would be, that would be awesome. that would certainly be news and people would be reporting on that, from the spin room right afterwards and going forward. so i think if i'm a surrogate i can take punches from a top-tier candidate, form an alliance. if i'm a top tier candidate, bernie put out the first salvo, attacking warren on her credits as being a socialist. charles: biden tried to get away

with in the first couple times being the front-runner, he was above the fray. all his attacks are focused on president trump. that is changing. how hard does he have to go particularly against elizabeth warren leading him in a lot of polls? >> joe biden can't be a punching bag. he has to return fire on defense and go on the offense. joe biden has not gone on the offense. basically has been on defense since the debates have progressed. i think people want to see joe come out swinging. the other thing, joe biden is not very good at talking about policy in a deep way. he is very, very superficial. he jumbles up his facts. he misstates things. i think that is his biggest weakness. he has not been able to go on offense. charles: brad blakeman, fun to watch. get your popcorn ready. china's president is warning

that attempt to to stop them will end in crushed bodies. general motors pickketters are going to dealerships. we'll bring you the latest. it is columbus day but poll shows that 80% want to dump the holiday and rename it indigenous people's day. our hour two of varney just getting started. ♪. ♪ i'm working to make connections of a different kind. adp helps canyon ranch place the right people in the right jobs, so employees like dave can achieve what they're working for.

charles: check the big board. we're kind of lower nudging our way higher. fox news's steve care began is live in syria. the european union condemned the attacks there. thanks for joining us, steve. what do you see there? reporter: the entire battleground has changed

dramatically in the last 24 hours. kurds who say they have been abandoned by u.s. forces formed an alliance with the syrian government of bashar al-assad backed by russia. this started out as turkish military operation which they said was against terrorists. it could be turning into a full-scale war between nations where you have turkey, a themmer about nato on one side, russian back syrians on the other. we're seeing brutal fighting, no-holds barred irregular fighting with backed militias on both sides, turkish backed militia accused of executing kurds in the field. executing kurd political leaders and dropping bombs on convoys containing journalists as well, killing nine. they have pull out from non-syria. the people in this area are trying to get away. the number has gone up every day. now 130,000 people are on the

move trying to get away from the fighting which could expand rapidly in the days ahead. charles, back to you. charles: steve, thank you very much. to hong kong, china's president xi xinping had strong words for anyone who tries too divide china. susan what did he have to say? susan: it's a big week, chinese president xi xinping warned that efforts to divide or destablize china will end with shattered bones. dividing china will be deemed by the china fees people as pipe-dreaming. this is escalated rhett rork from xi. he -- rhetoric he usually doesn't talk in these tones. how beijing is handling hong kong protests and happening in the region with the detainment of thousands of muslims i guess president xi xinping needed to speak up. this is a big week by the way i should point out in washington, d.c. washington is set to vote on the human right and democracy act. annual review that hong kong and

china are living up to their promises in the joint sino british agreement that handed hong kong back to china. essentially giving hong kong rights to freedom of speech to elect leaders but these protests are concerning that we had a homemade bomb detonated over the weekend. that escalated street warfare. charles: susan, thank you very much. it is columbus day. a new study by college students 79% support renaming columbus day to indigenous peoples day. i think we've been trending this day for a long time but i did not know the number was as high as 78, 80%. >> it its disappointing. leadership institute campus reform has been covering this trend. we saw it at campuses across the country. notre dame is removing a christopher columbus mural from the campus. vanderbilt is taking opportunity

to teach students about white cannibalism. the colleges and student are attempting to erase parts of history they don't like. charles: white canallism? >> nobody celebrates christopher columbus day because he was perfect person or explorers and columnists were great people. if educators want to take the time to context allize history to talk about what christopher columbus brought, that's fine. they don't want to do that they disregard what he achieved. only talk about the negative things that occurred after the fact, treatment of native people but again should be talked about but you don't have to do it at the expense of christopher columbus. charles: people say you can't discover something if people already lived there. that is where some of the criticism comes in. you had native people who lived in this place and that columbus,

quote, unquote discovered it. you just mentioned it. what do you say when you hear that kind of pushback. >> people lived here. but marks an important event in human history. look what happened after europe and what happened to the new world because what columbus discovered that would have never if it was just native people that lived here all the time. the contributions to the indigenous people have to the hemisphere and this culture and part of the world should be recognized. history is not a binary choice. you don't have to pretend columbus didn't exist and discovered the new world. we can talk about that. charles: twitter is tending christopher, people putting ideas who we should be celebrating. interesting choices. eduardo, thank you very much. >> thanks for having me. charles: congress investigating whether millions of social media messages about e-cigarettes may have misled consumers about the health and safety of vaping. we've got those details. wildly popular videogame

"fortnite" ended the last season with a bang and a black hole. fans now can no longer play the game. is this end of "fortnite"? susan: oh, no. charles: we're rhetorically answering that question. more "varney" after this. ♪. we present limu emu & doug with this key to the city. [ applause ] it's an honor to tell you that liberty mutual customizes your car insurance so you only pay for what you need. and now we need to get back to work. [ applause and band playing ] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ now you can, with shipsticks.com!

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that's simple. easy. awesome. call, click, or visit a store today. charles: check the big board. clinging to a 10 point. social media messages about e-cigarettes are misleading to consumers. susan?

susan: they're investigating whether millions of bot social media messages about e-cigarettes are misleading consumers about the safety and health issues. 1200 cases, 26 deaths have been linked to e-cig rid use. reynolds american, juul labs have not used this type of procedure according to the spokespeople at these companies. njoy, some of the largest cigarette-makers say they haven't used social media bots. is this way you get teens addicted, using vaping devices. that is the thrust of the investigation by the house committees. charles: kind of a cool factor in the schools i think may be doing more damage than bots, i don't know. i want to talk about this as well. singapore becoming the first country to ban soda ads. lauren? lauren: any advertisement of a drink with high sugar content.

chewing gum is band, e-cigarettes are banned there. first country where, i guess sugary drink advertisements are banned. they're linking to it diabetes. war on diabetes. world health organization says. one to two cans of soda, you're 26% more likely to get diabetes. charles: you can't advertise? >> exactly. charles: news on housing. people are not buying homes. they're flipping houses for profits. we have the guy with research on that coming right up. california's governor signed 70 new bills over the weekend. the big one includes new laws on fossil fuels, animal welfare and cannabis. we'll take you through them with our california guy, larry elder. ♪.

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or trips to mars. no commission. delivery drones, or the latest phones. no commission. no matter what you trade, at fidelity you'll pay no commission for online u.s. equity trades. ♪. susan: one of my favorites. there you go. calling this for months. >> have you been? susan: finally get it on monday. charles: great, love it. charles: stu and ashley may not be here but we can have the beatles. queen elizabeth says the england has to be out of the european

union by the 31st. lauren: the queen's speech laid out by boris johnson. basically she lays out what would britain look like post-brexit. there is a package of many bills a lot having to do with crime, justice and immigration. in the year 2021 eu citizens moving to great britain would lose the automatic right to settle in great britain. citizenship would be based on skill and contribution. you get extra points, for instance, it's a point system, if you take a job in northern england coastal towns. that would be a big deal. but laying out what would great britain look like post exiting the european union. charles: all right. check the big board. dow jones industrial average, we're up six points. essentially unchanged all morning long. there is a little bit of a tug-of-war. really trying to figure out

where we go from here. bracing for earnings season. there is this. the investment rate in u.s. housing 11.3% in 2018. that is the highest number in two decades. i want to bring in robert moran, brunswick group partner. what is exactly happening here? owning, but buying to rent? >> sure, what's happening is, small-time investors are surging into the local real estate markets, mostly east of the mississippi in towns like detroit, philadelphia, memphis and they're buying a small number of starter homes and refurbishing them and holding on to them as investment properties. this looks like a number of americans are using real estate invests in this way as an alternative investment. the data point here is the 2018 was the highest in two decades in which you've seen investment,

investors purchase real estate property. 11.3%. but 60% of that 11.3 are small-time investors buying 10 or fewer homes. charles: is there a distinction between buying and holding as long term investing investment, rather and flipping people hear about so often? a lot of people i know who are not necessarily into any form of investing always tell me they're considering that? >> it appears that these investors are smaller, smaller investors, they're looking to hold on to these invests and rent them out. the challenge here is, this doesn't, because of the location of the cities they're focusing on, this doesn't really solve one of our bigger problems in terms of american housing which is affordable housing in some of our largest metropolitan areas. you know we have data showing that in the bay area, 41% of younger tech workers are looking to leave the bay area because of

housing prices are just too high. you see millenials are leaving new york city for the same reason. this is an interesting trend but not necessarily helping us with one of the big core housing problems that we have today, which is affordable housing in our largest metropolitan areas. charles: i think millenials ultimately will probably move out of those big cities to affordable places where there are affordable houses. they're not bidding them in new york city, for sure. >> they are. charles: i'm sorry. finish your point there? >> i was going to say just last year, around 30,000 younger families left the new york city metro area just because of the pricing. too high. it is crazy. somebody once said the rent was too high. robert another one for you, you crunch numbers. this sin trying, workers want flexible work hours, especially millenials. is this same? federal reserve when they put

out jobs numbers, people working part time for non-economic reasons, 21.6 million people, is it along the same line we want flexibility. people are even willing to take a financial hit to get it? >> they are. at its core america is about choice. about the market and about choice. that is what is going on here. workers want flexibility and choice in two areas. one is timing of their work, being able to flex. and this is largely being driven by family life. and the second is, the location, being able to work remotely or work from home. you know, harvard did this study of business leaders. they found 46% of business leaders viewed flexible work arrangements as a key challenge they would have to manage through but only 30% of those business leaders thought they were prepared for that challenge. we know remote workers have fewer sick-outs, higher rates of

retention, report being happier at work. i want to say one other thing. it is not, when you look deep down in this data it is less about generation and more about whether those individuals have children in the home. whether they are moms or dads. we know about 30% of moms and 30% of dads who are working say that their work arguements right now make it difficult to be there for their kids, pick them up, take them to medical appointments, things like that. a lot is driven by family. in a way it is a good thing. american parents want to be exchanged with their kids and wanting flexible pressures. charles: is political climate adding pressure to these companies, particularly larger ones particular for things like this? >> there is war for talent across a range of professions.

flexible work is one way to attract top talent. that i think is what is going on now. there is a change in views. the economy is becoming more flexible, ever since the telegraph we've been killing distance. mess jobs are symbol i can analysts jobs, thinking jobs, they can be done remotely. technology and culture catching up in the work place. charles: robert, appreciate it. good stuff. now there is this. facebook digital currency losing more backers. susan, you have the details? susan: originally had 27 founding members. including uber, ebay, as well as visa, mastercard, stripe, paypal. four have dropped out. major card issuers, card payment companies. visa, mastercard, stripe as well. people are thinking will libra

get off the ground, the currency? mark zuckerberg will be testifying as a one-man show in front of house financial services committee trying to get libra through. people have concerns getting libra through. whether it will be used for illicit activities and how do you track it and will face back be in charge of more of your data. charles: when maxine waters, donald trump agree on something, you know it has high hurdles. susan: bring up the market work at paypal from libra at fb, he says very optimistically i would caution reading the fate of libra in this update because it is not great news in the short term. in a way it is liberating. stay tuned for more very soon. seems like facebook, zuck, david marcus, they are optimistic they will get some cryptocurrency

through at some point. charles: we'll see. now there is this, the united auto workers strike against general motors are heading into day 29. workers are beginning to picket dealerships. grady trimble is following that. grady. reporter: this is parts distribution center in illinois that would normally supply parts for dealerships. they are not getting parts they need to perform repairs. the union tells us there might be workers picketing outside of dealerships for the first time since the strike started today. when we asked them where, how many people, that sort of thing we were unable to get details. it is unclear it is happening at all. we have been talking about how much general motors stands to lose each day and week this strike goes on? they increased from 250 bucks a week to 257 bucks a week, but

that is still $1000 less than the workers are used to earning. gm estimated losing one billion to 1 1/2 billion dollars each week the strike drags on or the total. unclear which side is the winner or loser, whether general motors can recoup some of the money lost during the strike will be determined when it all wraps up. unclear if there is an end in sight. charles: this is hurting boeing sides. susan, the game "fortnite" is gone. is this any way it could be a good thing. susan: most popular game across the planet. it imploded and descended into darkness. took place, 2:00 p.m. eastern time october 13th. a meteor had been biding its time before there was a cataclysmic smash with the islands and sucked everything up

and wiped out everything. however it is a brilliant marketing tool because this is how you start season 11 with a resurgence. i would say people are talking about it today. lauren: freaking out. susan: people were freaking out. 250 million players. a lot of young kids. tencent holdings and a lot of shareholders they spiked -- charles: you wonder if a lot of people saw sunlight, actually left their house and saw sunlight for the first time. it is brilliant. a deliberate power outage kept california in the dark for days. is this the new normal? is california bracing for more blackouts? we'll ask our california guy, larry elder. >>? this olympian ran a 26-mile marathon in less than two hours. it was in unreleased custom nikes.

people are not happy about that part. we'll get into this with david portnoy next hours. ♪ look, this isn't my first rodeo...

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i have a lot of talent. charles: larry. i was a big fan of lee elder as well. >> to get to your question, to get to your question, charles, you big ones, gavin knew some required something called dreamer resource liaison center established at every community college and every state college to protect the immigrant. dreamer liaison centers. you tell me what that is. banned plastic bottles. the state of the homeless has not been addressed nor has the $1.5 trillion unfunded pension liability. we're down on fur, down on plastic and we're regulating marijuana. charles: seems like greater encroachment into the lives and personal choices in a free country should be able to make? >> absolutely. that is why ceo magazine, i

think it is 12 years of exist lens always had california as the california most unfriendly state to do business in all 50 states. it is absurd. native californians are leaving the state, going to florida, going to texas and taking their money and conservative politics. democrats outnumber republicans in three to one. decline of states, independents outnumber republicans. there is not a single republican holds office statewide in california. this is your future if and when elizabeth warren becomes president. charles: i can't wait. sounds so excited. this exodus of california, hard-working people leaving to keep more of what they earned. they have been replaced primarily with immigrants and more children. that doesn't seem like a viable economic plan. ultimately feels like this state should be imploding on itself.

thethe cost of gasoline. housing problems, momentlessness. this state, you talk about income inequality, this has to be the poster-child of worst income ineye quality possible? >> tell me about it. also what the governor has done, he banned or phased out the use of private prisons and private immigration detention centers. what we'll do with the prison overcrowding is beyond me. i guess it is immoral for the private sector to make money off the building private prisons. this is where our priorities are. i'm hoping, maybe, maybe, the homelessness problem you referred to, charles, the fact that majority of kids in california cannot meet state requirements for reading and math might get them to reconsider some their politics. i'm not seeing it just yet. charles: you wonder what the epiv if i for folks that live there, who are not engineers or hollywood stars and producers, bifurcation of a state and yet

they continue to do things their own way. to the point you made earlier, feels like when california does it, the rest of the country ultimately does it as well. we should be afraid? >> sooner or later all the policies california is promoting are being promoted by the main politics of the democratic party. by biden, elizabeth warren, by bernie sanders. this is our future. i'm hoping, maybe california can lead the way rethinking that. government is too big, too intrusive. the welfare state marrying the government and men to abandon their responsibilities. we really need to think this. charles: larry elder, thank you very much, my friend. >> not lee, larry. charles: launching the first kitchen. lauren? lauren: fresh idea. it is in redwood city, california, shared kitchen, businesses use the same kitchen, same chef, will use door dash to

deliver in seven markets in the area. this might be a markets the business might not have access but customers want the menu. door dash will do that with zero. it is free. charles: who cleans the kitchen? lauren: very good kitchen. door dash has a 7 billion-dollar valuation. this putting them into new markets and other businesses into new markets as well. charles: close to profitability. good stuff. elizabeth warren has her eyes on mark zuckerberg. here is proof, the campaign released a faked a on facebook where zuckerberg endorses president trump. we'll get into that with howard kurtz. nba season is about a week away but they're trying to put the china controversy behind them but can they? david portnoy is the bar stool guy. he joins us next hour. ♪

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>> it's clear to me what we need is a president with the courage to enforce the antitrust laws. break them up. yes, mark zuckerberg, i'm looking at you.

charles: that was senator elizabeth warren taking aim at facebook ceo mark zuckerberg last week. susan, what's the latest here? this feud is really going. susan: yes it is, meet the 2020 punch bag for elizabeth warren, facebook. warren's campaign ran an ad with a piece of intentionally mislabeled, breaking news, mark zuckerberg endorsed donald trump for re-election. you are shocked. how could this be possibly true? it said, uh-oh, we're sorry, zuckerberg is giving donald trump free rein to lie on his platform. charles: howard kurtz, warren testing facebook's ad policy what is she trying to prove here? >> it's a clever stunt by elizabeth warren. what is the worst thing i can say about mark zuckerberg? i know. he endorses president trump. highlighting the fact that facebook doesn't enforce any

standards in its advertising. anybody can say anything. it is a indefensible policy, local network or tv station doesn't like to be the arbiter of political exaggeration or out right lie but remind us facebook allowed russia propaganda, disinformation and all kinds of otherstuff in its news feed. charles: right. >> but just throwing up his hands when it comes to ads. charles: facebook put out a piece in the newsroom showing two ads, two impeachment ads, one from president trump, one from steyer saying they aired 1000 times. the fcc doesn't want broadcast companies censoring candidates speech either. are they trying to say, they don't want to be in the business of policing what's right and wrong and having to figure out what is fake news and what's real news? >> that is exactly it but goes to the fiction that zuckerberg maintains that facebook is not a media company. it's a giant, global, i flew

wednesday media company. saying this is so far over the line we'll not accept your ad. the larger picture, elizabeth warren running against facebook, running against big tech. the leaked audio where zuckerberg said it would zuck if she is elected president. why do they want to penalize success. maybe they need to be more closely scrutinized and regulated but breaking up companies is radical solution. shows you how much politics changed on the democratic side. charles: really has. howard, good to see you. >> appreciate it. charles: we were down 100 points but trading going to be earnings driven this week. later on we'll bring in bartiromo to discuss what she has been talking about. she has been very critical of the so-called phase one of this china deal. democrats take the stage

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♪ ♪ charles: it's 11:00 a.m. in new york city, 8:00 a.m. out west. first things first. let's get to your money. the market, let's just say it's trying to evaluate that partial trade negotiation. they are going to start the day -- we started the day negative, now we're positive, but it's a very narrow trading range. john layfield is news contributor. john, you are saying china thinks they have the upper hand with what we have negotiated thus far. >> yeah, i think so, charles. i felt this for over a year, china thinks they have the upper hand and also, the u.s. thinks they have the upper hand which doesn't lend itself to an off-ramp. i think china right or wrong looks at the united states and sees the house went democrat, they see a president that's underimpeachment inquiry, they

see a manufacturing recession and they look at this and think the u.s. has to do a deal. i think the u.s. looks at china and sees the problems in hong kong, the problems with the international outcry over the muslim uighur situation, and the declining chinese economy, and we think china has to do a deal. i just think this doesn't lend itself to an off-ramp. i think both sides overestimated their hand. charles: i hear you on that, but i also believe both sides have folks who are negotiating this who look beyond the hype, right. i think we also get the news items from both sides that are for public consumption but there are people in china who know the real deal. we just had a consumer sentiment released on friday, impeachment was at 2%, you know, even the trade people mentioned trade negatively, down to 29% from 36%. it feels like there might be wiser folks behind the scenes who understand all of this, but for me, it's how do you put together a deal where both sides can claim victory. >> yeah, that's the key, charles. i think you're right. china needs to do this deal.

but china doesn't want to be giving in to an imperial power. they used the same language they used in 1949 when they first moved out that never again will they suffer what they call the century of humiliation. they see this as even though they may need a deal, they don't feel politically they can do a deal because of how they perceive the united states as an imperial power. i think that both sides have to look at each other and figure out if president xi has figured out how president trump can win and vice versa. i think that will probably happen sometime in the first part of next year. i certainly hope it does. charles: so you do think, then, it's still possible to get a deal, not an inflection point, not a trade truce, but an actual deal before the election? >> i think so, charles. the reason i think that, the wild card in here is the impeachment inquiry. if this gets worse, at least perception wise, for president trump, china thinks they hold an extra ace here and they are just going to simply kill the clock. they think the longer they wait, the political turmoil going on in the united states, especially the perception of an outsider looking in, that the longer they

wait, the better deal they could possibly get. that's the one wild card to me. charles: you know, the owner of the brooklyn nets made his fortune in china, of course, and when this whole controversy blew up, he put a long tweet out, talked about the history of china. we talked about this before. you know, ultimately what happened with the opium wars and the boxer rebellion, and you just wonder, how many times can they go back to that excuse per se for their behavior a hundred years later and does it still resonate amongst the chinese who like to go to basketball games, like to shop at costco, love starbucks, those kind of things? how effective is that going to be just not only internationally but domestically for them? >> unfortunately, charles, i agree with you, first of all, but unfortunately, the regular chinese person doesn't get a vote. that's the problem. president xi does. and these hardline chinese leaders are taking the forefront in this and they can't see themselves giving in. they are fighting for world dominance, whether it's going to work or not, for the next 25 to

50 years and they can't see themselves in the short term giving in to what they think will come back to haunt them, giving in to an imperial power. charles: another thing we both agree on, america is still the best place for people to invest their money. what are some of the things you're looking at? >> i don't think there's any doubt about it. look at what's going on in the world right now, so many things you can't handicap, i don't think you can handicap what's going to happen with this china trade deal, you can't handicap what's going to happen with brexit, i don't think you can handicap the escalation that could occur in the persian gulf with iran and the oil tankers being missiled from saudi arabia and the problems you have back and forth. i think when you look at it, and the global slowdown, the united states to me is by far the best place to invest. and i think what we are going to see is like around 2013, 2014 when you had rates so low for so long, dividend stocks became the de facto bonds. i think you are going to see that now. you look at these oil stocks are yielding somewhere between 4% and 6% and the ten-year is yielding around 1.5%. i think it's a no-brainer that the dividend stocks become the leaders in this market. charles: john layfield, you are one of the best.

thank you very much. >> great to see you. charles: you, too. billionaires could face a tax, get this, drum roll, 97% under bernie sanders. susan li has the story. susan: under warren it would be 62%. they both have very similar wealth plans. not just taxing income, but they want to tax your net assets as well. under warren's plan, they would start at 2% for anything above $50 million, up to 3% for anything above $1 billion. senator sanders, he wants to start a $32 million with a 1% increase on your wealth, there's a wealth tax of $10 billion where you would have to pay 8% more. this is according to two uc berkeley economists. they say look, soaking the rich has been very popular, of course, very popular campaign promise. in fact, in a gallup poll recently, 62% of americans surveyed said the rich should be paying more but does that help the u.s. economy in the future and do they actually pay this amount of tax, because we have

learned 14 european nations, you either hire very expensive accountants who hide your wealth, you put it offshore, or you just simply move away. charles: sometimes in politics, the definition of rich is a sliding scale. susan: it is a sliding scale. charles: senator bernie sanders slamming senator elizabeth warren on capitalism. roll tape. >> well, elizabeth considers herself, if i got the quote correctly, to be a capitalist. i don't. the reason i am not is because i will not tolerate for one second the kind of greed and corruption and income and wealth inequality and so much suffering that is going on in this country which is unnecessary. charles: deirdre bolton is with us. capitalism is a four-letter word. it's really shocking that this would disqualify you from being president of the united states. deirdre: i think they are both vying for the seat of who is the more progressive candidate, right. we have seen elizabeth warren, love or hate her, she has been coming up in the polls. she is on bernie's turf, so to

speak. there's this huge debate tuesday evening, right, so he's seeking to distinguish himself and reportedly in 2018, elizabeth warren did make a comment saying i am capitalist to my bones. charles: she continues to call herself a capitalist but the idea that calling yourself a capitalist -- deirdre: and being a capitalist. charles: are two different things. sounds like sanders is saying that disqualifies you from being president of the united states. deirdre: he just wants the mantle of the most progressive person and he says he is the only candidate right now who can say to corporate america enough with your greed. now, i'm sure there are plenty on wall street who are equally if not more afraid of senator warren but i think this is really a statement ahead of tomorrow night. charles: what people are afraid of with warren is she is actually developing a structure, the veneer will be capitalism but it will still be a socialist structure. so she will call it capitalism and she will push it through and maybe even get people to vote on it if she were ever elected. deirdre: the other thing, love or hate her, she's prepared.

it has become a bit of a campaign joke, i have a plan for that, but people relate to that. she has thought out a lot of these issues. she's published on a lot of these issues. so the question is, will she be too far left for any independent voter. susan: she hasn't outlined her plans in terms of how she's going to pay for it. charles: she's outlined every other plan. they are going to be pushing her tomorrow night on this. deirdre: they certainly will. charles: thank you very much. we will watch a couple big names for you today. apple hitting a new all-time high. you can see earlier still looking really strong there. netflix saw another price cut, this time from raymond james. the stock had a lot of them last week, still powered higher. boeing stripped their ceo of the chairman title. that stock going pretty good today. facebook are losing really a handful of their libra partners or would-be partners. this as mark zuckerberg testifies on capitol hill next week. nike just hitting an all-time high after bank of america raised their price target on the shares. in a battle between the nba

and china, james hardin, whose general manager sent that tweet that started this whole controversy, now says he's not talking about it anymore. coming up, barstool guy david portnoy will discuss that. and 12 of the 2020 democrats onstage tomorrow night in ohio, but it seems as if it's really coming down to three candidates. warren, sanders and biden. we are all over that. this as president trump heads to texas this week for the opening of a louis vuitton factory there. luxury goods being made in texas. america, open for business. stay with us. hour three of "varney & company" continues to roll on. ♪

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$250. their target before was $60 a share. a big week for your money. earnings season kicks off this week. netflix reports on wednesday. they got a big boost from "stranger things" star david harbor hosting "snl" this weekend. roll tape. >> what do you mean? >> i don't know, look, it disappears. i think it's a gateway upside down, man. >> just like my show. look, whoever's behind these doors might need my help, okay? i'm going in. >> be careful. charles: the timing somewhat suspicious. deirdre: yes. well, we know the series has been so popular, "stranger things" has been so popular for netflix. in fact, the season three has an all-time record for netflix. to your point, we are coming into earnings season. netflix is the first of the fang stocks, they report on wednesday. we have to keep in mind larger context. disney plus goes online in

november, apple tv plus goes online in november. so netflix so far has been the leader in this kind of streaming original programming and all these other competitors and i'm not even talking about warner and all the other products from the traditional carriers. so netflix probably hears the footfall of competition coming for them. charles: reed hastings has got a lot of work in front of him. 12 of the 2020 democrats will be onstage tomorrow night in ohio. bernie sanders, he's making his first campaign appearance since his heart attack. lawrence jones joins us now, fox news analyst and fox nation host. lawrence, i got to say, it looks for the most part it's shaping up to be a three-person race. you agree? >> it is. bernie is almost a non-factor at this point. it was before the heart stuff that is going to trouble americans because they want a commander in chief they feel may be fit. although he's in our prayers, that's going to be a problem for him. i think he's going even more extreme. that's part of the problem bernie is having.

not only is he not a likeable candidate, he's just too far out that even elizabeth warren with all the socialist points of view that she has, she doesn't want to be called a socialist. she says she's a democrat that's more progressive. so you know, with this wealth tax, as well as the hunter biden thing, that's probably going to be the highlight of debate but bernie won't, you know, it's either him or elizabeth warren, and since she's more likeable and has a plan for everything, i think he's going to be off the stage. charles: you think they bring up hunter biden tomorrow night? >> i think if the journalists that are going to be moderating the debates do not, i think there's going to be ramifications for that. you got hunter biden that's doing an exclusive with abc, joe biden has had comments now about hunter biden and president trump, started the where is hunter thing. if you don't bring it up it's a problem. charles: he just resigned from this company. i think a lot of people reading this thought this was old news, not that he was still actually involved. it brings it up even more.

>> it just shows you that president trump really knows how to enlarge a story. i mean, for average day americans that don't follow this whole politics stuff, it looks very shady, what was going on right there. he had no experience but he has the last name biden and is on this board and all of a sudden is getting paid all this money and he's got his dad telling the ukraine to fire a prosecutor, even if the guy was corrupt, it just looks real bad. charles: it really does. i want to ask you about president trump. he's going to be in dallas later this week. >> i'll be there. charles: oh, really? keeping america great. it's a rally in texas. these last couple rallies were fascinating. they were jam-packed, energetic, and it was president trump just being president trump, you know. he went off the prompter a few times and while his advisers may cringe, people who love him, love that. >> i have been at the last couple rallies covering it for hannity. i talk to these people and you wonder sometimes, because we are into politics every single day, how they feel about the president and this impeachment

stuff. they're not distracted by any of it. i think it's really making them show up even more to the rallies. they think that the democrats are obstructing the president and i think that's going to be a problem for the democrats, especially a lot of those voters that trump got in 2016 were former democrats and i think they got to be careful with that. charles: no doubt if you look at these -- juxtapose the democratic events, whether in iowa and these trump rallies, the energy, all of the energy, i think elizabeth warren is a juggernaut with respect to the horizon of polls but the energy, none of them have the amount of people that are at the rallies as well. >> i saw the same thing when barack obama first ran for office as well. you had people standing in the rain, had all their signs, they make themselves, and they will stand there all day, the day before, just to get a moment in the -- charles: it's amazing. it really is. >> any candidate right now that's in the race -- charles: i'm going to ask you real quick because we have less than a minute, 30 seconds, another amazing thing happened.

the jets won. deirdre: that's so mean. so mean. >> got to fire their coach. that's the bottom line. jason garrett got to go. i love my cowboys but with all the talent, it's unacceptable. i may have a talk when i go to dallas. charles: they have been trying to spot the worst team a couple touchdowns and it backfired on them. >> we are mourning in dallas. charles: thanks a lot. appreciate it. "star wars" fans, this one's for you. a mansion in texas complete with a movie room shrine and ceiling studded with stars, how much would you pay? we got the price tag next. also, listen to this one. wayne newton's former ranch taking a multi-million dollar hit. this ranch was first on the market at $70 million. wait until you hear what it actually went for, next. ♪ ♪

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charles: we've got a couple of big real estate stories for you. first up, wayne newton's former las vegas hideaway sold for nowhere near its original asking

price. how much did it go for, how much did they want? susan: it went for $5.5 -- charles: what was the name of it? casa de shenendoah. susan: yes, that's right. they are asking for $70 million in 2013 so a fraction of that price. this is called the white house in the november desert. look at that. white pillars, fancy. but this was bought by the singer back in 1966. he sold to an austin, texas billionaire, and she bought something close by for close to $5 million. this is meant to be a tourist attraction but i guess it hasn't exactly gone that route just yet. charles: we have another one in the heart of texas. houston's got its very own "star wa wars" mansion complete with its own theater, decked out with lights, spaceships, pictures of the solar system. how much did they get this one, how much did this go for? deirdre: it went for $3 million which i will say is one of

houston's top ten most expensive homes sold in september. you were just looking at the theater. you can see the outside of the house is actually, okay, except for the infinity pool with the lights that change colors but the rest of the home is meant to be in a tuscan style. owners went bananas on that ous media room which is all about "star wars." you cannot imagine another theme in there. however, there was more subtle nods apparently throughout, for example, the tuscan style home i guess lent itself architecturally to a few nods to the sand igloos we saw. you have to be a fan to be into this. presumably, a fan bought the house. charles: a real fan. deirdre: a real fan. charles: yeah. i thought i was a fan until you said that. okay. elizabeth warren taking out an ad on facebook saying zuckerberg loves trump. she did this just to prove you can't trust anything that you see on social media, especially facebook. that story in a moment. we are also going to be joined by fox business star

maria bartiromo. she is not a fan of phase one of this trade deal. she will tell us why. ♪

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charles: half past 11:00, check the big board. up 14, 15 points. we have been in a very tight trading range. i want to bring in maria bartiromo, the host of "mornings with maria" on this very network, live in new york city's columbus day parade. want to talk to you about first this trade situation. i understand you're not a big fan of what was announced friday, what's on the table so far. maria: well, you know, charles, i think it's, you know, i'm happy that we're getting closer and i think that you have to be happy with president trump being the first person to really change the conversation on china, but when you actually peel back the onion, look at what's been accomplished, i don't think it's been much. we knew that the chinese wanted to buy more agricultural products than was sort of their big stick they were going to do, and that's what they're doing. they need these agricultural products, charles. you know, there is a massive swine flu going on in china. they've got 250 million dead

pigs. that's just an extraordinary number. it's even being felt in north korea, this swine flu. so they need the pork, they need the soybeans. they are going to be buying more of that. that's great. boeing planes, they need that, too. it's a positive that they're buying more. but after all the president has told the public, and after all he's said about the other big ticket items like intellectual property theft, like the forced transfer of technology, you would think these were the major big ticket items that the chinese would have to agree to, and really, there's just not much of that in here at all. you know, now the chinese are saying look, we want to have more time to talk before we actually sign on the bottom line. you know, that of course is coming from bloomberg, as you know, but that too should have -- you know, puts a question in this deal in terms of what really we're getting, the u.s., that is. now, the president has agreed to hold off on those tariff increases. the tariff increases were supposed to take effect tomorrow. so the fact that he's holding off on that, that's a victory for china. i guess one victory here for the

u.s. is the fact that the chinese have agreed to remove those limits in terms of foreign ownership. so -- in the financial services industry. so if you are a bank or insurance company, you can own a company in china and own it yourself, beginning when that limit is removed. but they were planning doing that. that was the first, you know, open access move that they were going to make. so there, too, they didn't really make any major changes. so i'm skeptical. i know the administration is putting out people this morning to basically, you know, sell this deal. i think they are overselling it, frankly. yes, i do. charles: you know, maria, i just think they shouldn't call it a deal. i think it's part and parcel of a long negotiation process but i do feel like it could be an inflection point. everything fell off the rails in may. the tone, the saber rattling, the increased tariffs, potential tariffs. maybe this is just sort of a reset toward a potential deal that meets the criteria, the things you just laid out. maria: yeah, i mean, look, back in may when the chinese reneged,

steve mnuchin said we were 90% there. then a couple months later, he said oh, well, we're 90% there. in other words, all of these big ticket items that had been agreed to. but the truth is, we're not 90% there. it doesn't feel like we're 90% there at all. because the chinese have yet to agree to actually put it into law, into chinese law, that it is unlawful to steal intellectual property from the united states. and from the west. they're not doing that. they're not making that commitment. so you know, look, it could be that this is a culture and it's just going to be too difficult to get the chinese to recognize that, you know, copying i.p. is theft. so that may very well be. but you could also believe that it could have been easy for the chinese government to say okay, we won't force the transfer of technology. they haven't done that either. so while you have a couple of positives like the agriculture and the market access for financial services companies, i don't see much else there. the good news is the u.s. didn't really lose much, right. that's a positive. the u.s. didn't really give on too much. all the president did was agree

not to put those increased tariffs into effect on tuesday. so from that standpoint, it's not like the u.s. is, you know, at a disadvantage other than to say that we don't have a deal. charles: right. the negotiations will go on and you know, i think they do know right fromening wrot wrong, bec always justify what they're doing by talking about the opium wars, the boxer rebellion. they justify what they're doing which leads me to believe they know right from wrong on this stuff. i do want to ask you about earnings season. we kick it off tomorrow. lot of fangs. they have not lived up to the hype. every year in january, you say, we talk to these market experts and they say the financials, you got to be in the banks this year. so far they haven't lived up to the hype. maria: well, rock bottom low interest rates is not a good thing for the banks. it's just costing them more money. i think at this point people are expecting a negative performance for the third quarter. we will see earnings be down. however, i do think that the

market will surprise on the upside, coming out from these lowered expectations. i'm not negative on the earnings season. i think it will be flat. i think things will likely pick up in the fourth quarter and into 2020. remember, we have a very strong backdrop here. we've got unemployment at a 51-year low. the president's tax legislation, his rollback in regulations, have truly moved the needle on economic growth. so that's a positive. having said that, the manufacturing sector is weakening. i would only point out that the boeing situation with the 737 max jet not in production and the gm situation also affecting the manufacturing lines and manufacturing of vehicles, is part of that pmi weakness that you're seeing. so i don't even think the manufacturing weakness that we are talking about all the time because of the purchasing managers index, really tells the whole story. i think it's stronger than it appears because of those two issues. charles: i agree 1,000%. you are outside the studio today, at the columbus day parade here in new york city. now, college kids across this

country, i'm sure you read this, they want the holiday to be renamed to indigenous people day. in fact, 79% of college kids say this is the right thing to do. what would you say to them? maria: look, i would say columbus day has been a holiday for a long time, 200 years, and i think that because it's a historic holiday, i would vote to leave it in place but that doesn't mean not to celebrate indigenous people. i would say come up with another date for indigenous peoples day and leave columbus day alone. but of course, you know, there's this big debate about this. i don't see why you would want to change a holiday that's been in place for so long. charles: maria bartiromo, thank you very much. it's a pleasure to have this conversation with you. thanks. maria: you, too, charles. thank you. charles: take a look at facebook. some big, big names are quitting their libra crypto project. add one more to the list. deirdre: visa, mastercard,

stripe, ebay, booking and the idea is today is the day that essentially, they all had to sign papers and say we are officially committed to this project, so friday and really this morning is like the last exit before the bridge and they are all taking it. so i think what's been difficult for libra is that it doesn't serve either party. in other words, the banks are not going to tenthusiastically cheer their own disruption. it's hard for facebook to get true support from the banking community. on the other hand, the whole reason why people like cryptocurrency is because there is no oversight, that it's completely decentralized and facebook's libra answers neither of those two concerns. it's not making either group happy on either side. david marcus tweeting out, by the way, at facebook in charge of this project, he actually thanked the potential partners, specifically visa and mastercard, he said thank you for sticking it out to the 11th hour, the pressure has been

intense, he meant regulatory pressure, and i respect your decision to wait until the regulatory concerns have been cleared up. so he's basically saying don't worry, this project, this is just chapter one. charles: we will circle back. we should point out maxine waters, president trump, jay powell, they all share the same reservations when it comes to libra. deirdre: they sure do. don't forget senator warren, who has outright called for facebook to be broken up. this company is going to -- has a lot of arrows coming at it. some would say justifiably. charles: speaking of elizabeth warren, she targeted mark zuckerberg with a fake political ad. tell us about it. susan: yeah. so this political ad came out on saturday evening and basically, the headline was breaking news, mark zuckerberg and facebook just endorsed donald trump for re-election. of course, if you click through it, it was fake and she's trying to prove the point that things haven't changed since 2016, where facebook was accused of misinformation, spreading misinformation and swaying the 2016 election. also, by the way, warren's ad,

she says, further claims if trump tries to run a tv ad most stations would refuse to air it but facebook cashes trump's checks. facebook responding on twitter, if we can bring up this response, and facebook says it looks like broadcast stations across the country have aired this ad nearly 1,000 times as required by law. fcc doesn't want the broadcast companies censoring candidates' speech and we are basically following the rules. elizabeth warren says you are making my point, facebook. it's up to you whether you take money to promote lies. charles: oh, boy. that one's not going away. zuckerberg versus warren. susan: punching bag for 2020. charles: thank you very much. we want to check the varney watch list. apple hitting a new all-time high earlier. netflix saw a price cut from raymond james. you can see the stock is still edging a little higher. then there's boeing. they stripped their ceo of his chairman title over the weekend. that stock a little bit higher. facebook, we just mentioned they are losing more and more of the libra partners and of course,

mark zuckerberg is going to testify on the hill next week. stock's under some pressure. nike hitting a new all-time high after bank of america merrill raised their price share target. on your screen, a picture from last week. this is, these are workers in shanghai taking down a billboard advertising nba preseason basketball. meanwhile, tencent reportedly is still airing nba games in china even as the government has a tv blackout in place. houston rockets player james hardin says he's going to try to stay out of it. it was the houston rockets general manager's tweet that started all of this. up next, barstool's founder dave portn portnoy. ♪ with time, comes change

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for "joker" at the box office. you have the details? deirdre: yes. so basically, warner brothers spent $55 million to make this film. they have already gotten their money back, and then some. so if you look at the worldwide international ticket sales, it's close to $200 million. there were a lot of concerns as we all know before this film came out, some were worried it was too edgy, too dark. others said oh, it's a bad time of year, there are other competitors but "joker" seems to be going strong. you saw it. charles: i saw it the first week. i really really liked it except for the very last scene. i'm saying i think that was -- i think -- deirdre: you think it was corporate? charles: i think corporate made them put that in there. otherwise it's a perfect backdrop for these days. deirdre: i appreciate you not ruining it. i will be watching the last scene. charles: back to the nba and china. streaming games were all banned in that country last week. now tencent who by the way was exclusive rights to stream nba in china, lifted that ban, streaming two more preseason games after the nba had taken a

radio silence approach to criticism of the chinese government. want to bring in dave portnoy, founder and president of barstool. dave, you think fans are going to turn these games off and be turned off somewhat by all of this? >> no. not at all. i don't think fans care at all. fans want to watch basketball. charles: so why then -- why do you think the nba then at least initially, you know, the houston rockets, the houston rockets owner, the commissioner, all seem to overreact and genuflect towards china. >> i don't know if they overreacted. they're afraid. china was willing to ban the games if they didn't fall in line, they would have shut it down. there's billions of dollars at stake. that's why the nba went silent. charles: this is the same nba, though, that is never silent in america on a variety of issues, with their premier stars who aren't afraid to really diss people, not just the president of the united states but people who voted for him, calling names, saying they are dumb,

uninformed, you know, it gets pretty vicious here. do you see anything wrong with the idea that, you know, they are so outspoken with respect to america but they can't criticize or at least opine on what's happening in hong kong? >> yeah. they look like hypocrites. if you are going to talk about one thing, talk about the other. but in this issue, with china, they felt like their bottom line was at stake. there's rumors the salary cap was going to change. so they look like giant hypocrites. what they should have said, what i would have said is listen, i would love to talk about it but i care about my money more than anything else. that's all this is about. money. charles: but it gets back to your first statement, fans didn't care, right. so the fans don't care, haven't reacted negatively even though it's fans that voted for president trump. some said they won't watch but maybe they will watch on the side. that even the fans in china apparently are okay, they're not -- there's no animosity between the average chinese fan, i mean, this seems to be the government, the communist government which is obviously feeling a lot of pressure because of the atrocities with

the uighurs and atrotti tatrocis in hong kong. should they have made a stand knowing the fans would be on their side? >> no, i don't think the chinese government cares. that's what the chinese government does. they shut the games down, they threatened and the nba rolled over and got their bellies pet. that's pretty much what happened here. charles: ultimately, a company like nike which just had this campaign with colin kaepernick saying something, stand for something, lose it all, something to that degree, you probably know better than i do, but essentially saying he sacrificed his career to do the right thing. well, they immediately emptied out all their nike stores in china of any houston rockets gear. they didn't quite live up to their own message, did they? >> listen, the commonality between all these subjects is it's money is what's driving it. if nike thought the best decision was to keep it in the store, get rid of the store, everyone is after money. it doesn't matter whether it's kaepernick --

charles: although someone like colin kaepernick did the right thing even though he knew he would lose money, that's suggests do the right thing in your life, don't let money be the top thing that motivates you. if something is wrong in your country, if something is wrong in your society, stand up even if you take a personal financial hit. >> yeah, but if nike thought kaepernick was bad for the bottom line they wouldn't solve him. charles: i know that. but the message, the message -- >> the message is to make money for nike. whatever they think that may be. charles: so the message is not a real message, then. >> these are businesses. these are for-profit businesses. the nba, nike. now, they may say they are not at certain times. doesn't matter the issue, democrat, republican, these are for-profit companies trying to do what they think will drive the most revenue to them. that's why they caved to china. they don't cave in u.s. issues because they don't think it will hurt them. china has the wrench. they said hey, this is a different country. if you talk bad about us, we can just shut you down. there's billions of dollars at stake. that's why they got silent. charles: i want to ask you also about this man who was in the

marathon, 26 miles, less than two hours. i think it was one hour, 59 minutes and 40 seconds, something like that. we have it on the screen. how did he do it? they were saying he was wearing unreleased custom nikes and that might have helped him out, some kind of carbon fiber in them. i know nike will play it up pretty good. do you think this was a legitimate marathon? >> this guy, from what i understand, i'm not going to be some marathon expert here -- charles: i thought you covered all sports. >> marathoners, though, the sport not so much in the u.s. from what i understand, he's the best. the world record holder. he has two legs. i don't know how you can say sneakers make that big of a difference. people always have equipment. i would say the record stands. this is much ado about nothing. charles: it was exciting. i'm not a marathoner, you can look at me and -- >> really? charles: yeah. i thought it was a hell of a feat. how you guys doing? >> great. everything is doing great. barstool is rolling along. seems like the more politically correct the world gets, the better we do.

things are going good for us. charles: your logo won't be if you stand for nothing, you don't need to borrow nike's logo? >> our logo already carries the message we want which is kind of we call it as we see it. charles: nice talking to you. appreciate it. want to do a quick check on the markets here. beyond meat down, one more analyst on wall street telling investors let's just wait, they are worried about competition from impossible foods and the big names like tyson and nestle infringing on this innovation. also, uber is up 4% today. there's no specific reason perhaps but a lot of upgrades on this stock last week. some are thinking it could be part of this door dash news where they are trying to get into viral kitchens. uber sinking big money into the entire industry. maybe good news for the industry helps them as well. of course, the company reports their earnings early next month as well. also, folks, there's this. the pilot of the southwest flight that suffered from a massive engine failure, you remember this, it had that giant hole in the fuselage, she has

written a book called "nerves of steel." she shares her story, next. ♪

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charles: i want to get straight to our next guest. she's got a story of pure american heroism. she landed a southwest airlines safely out there after debris punctured a hole in the fuselage and the entire cabin was depressurized. now she's written a book about that day and her life story called "nerves of steel." captain tammy jones joins me now. she's with us. captain, i want to say first of all, again, it was an amazing story. want to say congratulations to that first and foremost before we even get started. if you could, kind of walk us through that flight and that day. >> well, i was captain on flight 1380 but i wasn't alone. i had an incredible crew. and we were passing 32,500 feet on our way from laguardia to dallas love field when we had an engine explode. it was a violent enough explosion that we thought we had had a midair with another aircraft, but anyway, recovering from that and then flying it on

to the ground, i have to say there were incredible heroes and nerves of steel beyond my own that day. there were many that i saw. charles: these nerves of steel, is it a combination of things? is it training, is it personality? what combines to actually give someone those nerves of steel that in your case, was needed to save lives? >> well, i think all of it goes to certainly some layers. it's never monolithic. so experience as well as training, and also, just coming up through naval aviation which is how i earned my wings, and then 25 years of flying boeing aircraft for southwest airlines. and i do think our experiences add up to who we are, and habits that we choose to make our own, they come around to instinct on a bad day. charles: i got to tell you, it was just an absolute remarkable

feat. i think you are being a little modest but that's okay. obviously you did have a good team and you did have the experience, but there's something unique about you as well that we all salute. the book is called "nerves of steel." thank you very much and good luck with it. >> thank you. charles: boeing's chief removed as chairman after two deadly crashes with the 737 and there's been a raft of problems also to follow that. lauren, susan, you have the story? susan: i got this. boeing shareholders rejected a proposal earlier this year to split the chairmanship and the ceo role, so this was a bit of a surprise, that was announced on friday. muilenburg, apparently they want him to focus on the day-to-day operations and running the company, getting the 737 max fleet back into the skies after it's been grounded since march of this year, after the two fatal crashes, and this has cost boeing $30 billion in market cap. by the way, this splitting of the chairmanship and the ceo came just a few hours after a panel of safety or air safety experts sharply criticized boeing and the faa for missteps

that led to these fatal crashes. deirdre: and the new chairman of ge aerospace. he has experience in the space and they will need it. charles: more "varney" after this. ♪ heading into retirement you want to follow your passions rather than worry about how to pay for long-term care. brighthouse smartcare℠ is a hybrid life insurance and long-term care product. it protects your family while providing long-term care coverage, should you need it. so you can explore all the amazing things ahead. talk to your advisor about brighthouse smartcare. brighthouse financial. build for what's ahead℠ . .

charles: check the varney list. apple hitting new all-time high earlier. then there is netflix. had another share price target downgrade this one from raymond james. stock is a little higher. boeing talked about it. the ceo was stripped of his chairman title. the stock is powering higher. facebook, did i mean to say it, mark zuckerberg testifying on the hill. nike hit all-time high. bank of america raised their target. these consumer oriented names doing very well in this economy. >> going into the big earnings

season we were talking about netflix and "stranger things." set a digital streaming record. 40 million people worldwide watching this. they need that with apple tv plus and everybody else. charles: i have to start watching it. neil cavuto, i'm not sure if you're a "stranger things" fan. neil: that is every day, every day here. i have the lawyer on line one here. thank you very much. we're following phase one, push back from this deal doesn't look like a deal working out. the chinese, chinese are the ones thinking about dotting is and crossing ts, we thought it would be other way around this is creating more confusion. what is the deal with the deal we thought the deal that is apparently not quite a deal? to blake burman at white house with the latest. reporter: neil, there is very clear there is lot of work to be done here even on phase one of the president talked about the pote