tv Varney Company FOX Business November 6, 2020 9:00am-12:00pm EST
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you guys, great performance. great numbers this morning. thank you all. dagen, brian, james, charles, joanie, jon, steve, ed and lisa, great to see you all. have a wonderful weekend, everybody. that does it for us. i will see you tonight on wall street and on sunday. have a great day. "varney & company" begins right now. stu, take it away. stuart: good morning, maria. good morning, everyone. they are still counting. don't expect an official, official result soon. court challenges and recounts will stretch this thing out but look what we have. real drama overnight. there has been a shift to joe biden in two pivotal states. in georgia, biden has established a very narrow lead, about 918 votes. there are 16 electoral college votes in georgia. if biden wins them, he hits the magic number of 270. in pennsylvania, my goodness, real drama.
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the president has lost his lead. this is dramatic. this time yesterday, mr. trump held over a 677,000 vote lead. now he trails by over 5500. that switch occurred as philadelphia's ballots were counted. pennsylvania has 20 electoral college votes. as for nevada, still has biden in the lead by roughly 11,000 votes. and north carolina has the president with a lead of over 70,000. we will update these vote tallies throughout the program. now, the president's team has launched a series of lawsuits challenging the count. they want it stopped so that improper or illegal ballots will be kept out. at his press conference yesterday, the president said he would win if only legal ballots are counted. he alleged that the democrats were trying to steal the election. now, significantly, the three broadcast networks switched away from covering the president. lester holt of nbc said the president had made quote, a series of false statements.
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got it. joe biden says he's confident of victory when all the votes are counted. he called for patience. now, outside the race for the white house, the democrats are actually big losers. republicans picked up six states -- six seats in the house. it could be more. speaker pelosi's leadership is in question. the republicans are very likely to keep control of the senate, although there could be a run-off for two seats in georgia. that's the political action and dramatic it is. let's go to the markets. got some drama there, too. we now have the dow jones average showing a gain, just three points but following an enormous gain throughout the week. that is very interesting. up 8 on the dow at the moment. as for the s&p, a minor leagues pull-back at the early going. down 4. the nasdaq, after almost a record-breaking week, that's pulling back by about .4%. there is other news. specifically, the jobs report. i will run through that for you
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quickly. it was a very strong report, 6.9%, that is the unemployment rate and that is less than half what the rate was back in april. 14.7% in april, 6.9% now. 638,000 new jobs created. that is a strong report. on the virus, there have been more than 100,000 new virus cases in each of the last two days. the question is, what restrictions, if any, will be imposed by the states to deal with it, and what economic impact that would have. there's a lot to go at. what a week. "varney & company" is about to begin. we want an honest election. we want an honest count and we want honest people working back
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there because it's a very important job so that's the way this country is going to win. that's the way the united states will win. it's getting worse and worse every day. we're hearing stories that are horror stories, absolute horror stories and we can't let that happen to the united states of america. it's not a question of who wins, republican, democrat, joe, myself. we can't let that happen to our country. we can't be disgraced by having something like this happen. ♪ stuart: i think it will be very difficult to establish the right music to open the show on a friday morning when you've got all this action going on. you just heard president trump raising his concerns about the election. we are going to be covering this all morning long. it is a very fast-moving story. i want to go back to the races
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where joe biden is now leading. very important stuff. look at pennsylvania. as we said, the flip came overnight. now biden leads in pennsylvania by roughly 5500 votes, with 98% of the vote counted. as for georgia, another flip in the lead and this again occurred overnight. biden now leads by just a few hundred votes, about 918 votes, we believe. now, the georgia secretary of state will hold a press conference at 10:30 eastern. georgia still has to count military ballots. that could favor the president. here's what's happening in nevada. biden is up by more than 11,000 votes there. 49.4% to 48.5%, that's the percentages. i got to tell you, this is an extraordinary week. look who's going to be with us today. david bosse, candace owens and steve hilton on today's show. to the markets. i will show you where we are again. this is premarket action. we are down across the board but
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not by much. very modest retreat after a spectacular week of gains. jonathan hoenig with us this friday morning. jonathan, we are likely to see lawsuits -- we have seen lawsuits. we are probably going to get some recounts which will stretch the election formally into december. how's the market going to react to a delay like that? >> after this week, wow. stuart, we had expected volatility, most of us expected it on the down side but what a huge historical relief rally. it's probably because despite the salutlawsuits it looks liked government. historically if you look at the statistics, that's what's best for stocks. republican senate and democratic president, think of the clinton years or obama years, because the republicans tend to be a great opposition party when it comes to spending. you are putting up the prospect of a real contested election. i think that's the fear. that's why you saw the market really sell off on election evening, because you think back
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to 2000. in a month, the market at one point was down about 8%. we haven't seen that this time. a huge relief rally and great breadth as well. yesterday, about 200 new highs, only 20 new lows. for me it's all about tech. tech led the market on the way up. in march it led the market on the way down. they will be in the cross-hairs no matter who's in the white house. stuart: we just had this dramatic news that biden now leads in pennsylvania and overnight, he turned out to be leading in georgia as well. do you think those two, i'm going to call them bombshells for what it's worth, do you think they will have any impact on the market today? >> well, we are seeing a real strong snap-back bounce and risk assets all together and if you look at the prediction markets, they are certainly favoring vice president biden at this point for the presidency. you know, there's a great old saying, most of the time if it rhymes, it doesn't mean it's right but this time it's true. when in doubt, stay out. i think the jury's not out on exactly the way this presidential election will play
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out or the way the market reaction's going to play out. don't feel as an investor you have to make those full commitments just yet. this is going to get topsy-turvy as lawsuits make their way through the courts. stuart: glad you warned me. thank you very much indeed. see you soon. jonathan hoenig. i want to bring in paul conway. paul has worked on five presidential transitions. i don't mean to imply that we've got a transition in progress now, i don't know that, but when i saw the president yesterday, he seemed clearly disappointed and frankly rather angry that the mail-in ballot count was eating away his lead. what do you think the atmosphere's like in the white house right now? you know the white house. >> a few of them. basically, inside the white house, here's what's going on. there are three distinct processes under way. the first one in regard to the president's comments last night, as they are looking at the political terrain in states like pennsylvania, georgia, nevada and arizona, you have a political legal and
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communications process under way right now where they are examining what they are going to fight on and what the basis of the evidence is. then you have a planning process for the president's own re-election and his staffing for a second term. that takes place with the white house chief of staff, the personnel director and the president taking a look at the cabinet and subagencies. then you have a third process that's actually governed by law, 60 years of law, especially the past 20 years, that takes a look at a smooth transition for the opposing candidate and that is good for the country that that goes in process and that is led by the white house chief of staff and especially his deputy chief of staff. that process is under way for at least a year. stuart: under way for at least a year. but i presume that third leg of the process here where they literally look towards a transition to another administration, that is going on right now, that presumably is intense, paul?
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>> yes. it's quite intense. and actually, to the credit of the administration, under chris lidell, this process has been under way in the trump administration since 2017. it never really stopped. former secretary mike lovett and ted kaufmann, a close confidant of vice president biden, have actually, did legislation in 2015 to enhance the transition process. so what happens with that is very intense. there's a white house transition coordinating counsel, there are agency designated transition directors and they have been meeting consistently. right now in this period of time, this is where the opposing candidate's team is undergoing a series of briefings, there are open lines of communication and then within the agencies, senior political folks and career officials are working quite closely to prepare documents that if necessary, if necessary, these would be then handed over to the transition team and you
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would have folks like me come in or folks in similar roles that are on the inside, ready to hand things off. stuart: all right. i would like to be a fly on the wall in those meetings. but i'm not. >> they have been interesting. stuart: fascinating. paul conway, thank you very much. appreciate it. now, let's get back to the markets. because i want to take a look at big tech. this morning, down but not that much, compared to the rally they've had. susan: best election week in decades. so far this week we are on track for 7.5% gains and that's better than every other election cycle since 1932 when franklin roosevelt beat herbert hoover. better than president trump's surprise win four years ago and despite the fact that yes, we still don't have a result just yet and maybe a long-disputed election, not as bad as 2000, bush versus gore, also the best weekly rally since april as well. that's what we're on track for. big tech, as you mentioned, leading the way. divided congress means less
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regulation. a little bit more stimulus and lower corporate taxes and investment banks and money managers like blackrock say this is a sweet spot for markets over the next four years. democrat in the white house, divided congress, that's an average gain of 33% over the next four years. that's a lot. we had cfra research say at least 14% for your 401(k). that sounds pretty good. stuart: with all these political shifts, it still looks like pretty sure that the republicans keep control of the senate. susan: that's right. stuart: that would be good for the market. got it. look at futures overall this morning. we have some red ink but not that bad. the nasdaq pulling back about .6% after a huge gain this week. house democrats, well, they ripped into speaker pelosi after their disastrous election performance. you better listen to this for a minute. >> we lost members who shouldn't have lost. the number one concern and things that people brought to me
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was defunding the police. if we are classifying tuesday as a success from a congressional standpoint [ inaudible ] tear us apart in 2022. stuart: that is a republican and she -- sorry, that was a democrat and she's blaming the squad's far left demands and rhetoric for tearing apart the party. we've got more on that coming up. next, ken starr thinks the president is right to fight his case in pennsylvania and he's going to tell us why. ♪ non-valvular afib can mean a lifetime of blood thinners.
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if you count the legal votes, i easily win. if you count the illegal votes, they can try to steal the election from us. we want every legal vote counted and i want every legal vote counted. we want openness and transparency, no secret count rooms, no mystery ballots, no illegal votes being cast after election day. they're trying to steal an election. they're trying to rig an election. and we can't let that happen. stuart: there is the president declaring that the democrats are trying to steal the election. former whitewater independent counsel ken starr joins me now. ken, you say president trump is right to fight in pennsylvania because philadelphia's got a rotten history in this regard, election integrity, a bad history. but have you found direct evidence of fraud in pennsylvania? not you, but the president's team? >> right.
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not that we know of. but the evidence is being gathered but this is what we know. first we have to go back to the state level and how thi thismorasscame to be. the state governor and the state supreme court flagrantly violated the constitution of the united states. the power to set these rules and regulations is vested in the legislatures. they just ignored that. ignoring the constitution. now we bring it down to the actual counting level. the counting houses. outrageously, observers who are essentially the sentinels of integrity and obviously transparency were excluded. the trump administration, the trump campaign, had to go into court in philadelphia to get that basic right that the law allows. so at both the state-wide level and the local level, pennsylvania has just conducted itself in a horrible lawless
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way. hopefully this will be corrected at the supreme court of the united states. stuart: what would be the correction? go back and look at all the votes in pennsylvania, all of them, that have been counted and figure out which were legit and which were not, throw out the illegit votes and go from there? is that what might happen? >> that would be an extraordinary remedy. i think what the court would do is try to craft a remedy assuming they find my position correct, namely that what has been happening, these late accepted ballots for three days past election day, are illegal. that's exactly what the president is saying. those are illegal ballots because this process was not authorized by the pennsylvania legislature. you may limit the count as we saw in florida to several counties. might be limited to philadelphia. the remedy remains to be seen. i want to be very clear. it may not determine the outcome
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of the election but it is very important to assure integrity and transparency and to deliver a spanking to those who violate the law. pennsylvania, especially philadelphia, as you know, has a very sordid history of people going to jail, going to jail, for election fraud and it may be, we don't have the evidence, that that's under way right now. stuart: will we get a decision quickly if they go to the supreme court? >> it's possible. the supreme court is hard but the supreme court in extraordinary circumstances has been able to render decisions in a matter of days. it's possible. it simply depends upon what the parties are able to show, especially the trump campaign, in terms of the importance and timeliness of this terrible controversy that's been allowed to erupt in the commonwealth of pennsylvania where our constitution was first drawn up.
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stuart: yep. it's crucial right now because the lead has flipped to joe biden following the counting of some votes from philadelphia. ken starr, thank you very much for joining us this morning on a very important subject. thank you, sir. let's get back to money, shall we? it's a big day, big week for earnings. we have some major corporations report their earnings already this morning. susan? susan: a big winner this morning, a woman named as the next ceo of cvs. you had higher profit, higher sales thanks to a rebound in prescription drug volume and coty, the cover girl owner, making a surprise profit from july to september. online sales are flying for their cosmetics brand. that's why the stock is up big today. t-mobile crushing estimates. a record number of new customers signing up to t-mobile, over two million, best in the mobile industry. that merger really paying off. finally, video gaming. we know it surged during covid. electronic arts being a little
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conservative with their holiday shopping forecast and the market does not like it. ea's madden nfl game, they are doing very well. the maker of grand theft auto raising their sales guidance for the year. next generation xbox series x releases next week and that's helping everybody in gaming. as you know, during the pandemic, people are staying home and playing video games instead. stuart: those earnings plus the senate stays republican, that's helping the markets. susan: you had much better jobs than expected in october. stuart: now we are up 74 on the dow jones industrial average. let's give you the full board. dow is up 70 odd points. s&p has turned around and is up 3. nasdaq down minor leagues, a mere 22 points. we'll be right back. ♪ ♪
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it's still warm. ♪ thanks, alice says hi. for some of us, our daily journey is a short one. save 50% when you pay per mile with allstate. pay less, when you drive less. you've never been in better hands. allstate. click or call for a quote today. stuart: two and a half minutes to the opening bell and we are looking at the markets with david bahnsen. you say, i read your stuff, david, religiously, the country's not ready to embrace socialism. i absolutely agree with you there. is that why the market's been going up?
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>> it is. it's why the house is going to see its net-net go two republicans, not to democrats. no one's talking about that story. we are wisely focused on the senate, obviously there's all the drama around the presidential race. a rejection of the extreme parts of the progressive left and the socialist label is really clearly been rejected in this election. stuart: does that mean that come time for talks about some kind of stimulus package, which leader mcconnell says we are going to get by the end of this year, it will be much more moderate and cooperative, this stimulus package that's coming? >> i don't agree with leader mcconnell that we will get one in the lame duck session. i think he should say so and i think he should try for it but i will be very surprised if that ends up happening. i think there will be a stimulus bill done after the inauguration and i think it will be much smaller than it would have been. i think pelosi gambled, i understand why she did it, she didn't want to give the appearance of a victory to
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president trump, but she lost this gamble badly. i will be very surprised if they even get to a trillion dollar mark on the final stimulus. i think it will be something about half or less than half of what it would have been. it will be much more targeted and yeah, i wouldn't use the term less socialistic but i think it will be less silly in its direct aid to states and i think it will be more targeted where the help is actually needed. mcconnell has that leverage now because he doesn't have to worry as things appear to be going, he won't have to worry about pacifying a republican president who wants a big deal. he will be dealing with more traditional republican senators that are going to want to spend less and do so in a more intelligent way. stuart: trend in the market, give me 20 seconds. it's still on the upside? the trend? >> it is. a lot of it has to do with the fact that the market has wised up so much about the covid sensationalism nonsense. all the cases growing and growing and the markets are
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shrugging it off because they now have finally learned this is not leading to the dire straits that everyone had been predicting for so long. also, the senate staying with the democrats takes away all the risk of tax increases. stuart: they are ringing the bell. time's up. david bahnsen, thanks for joining us. here we go. 9:30 on a friday morning. election week. where do we open, ever so slightly lower for the dow. i'm looking at maybe half of the dow 30 in the green. it's a mixed open, ever so slightly to the downside. please remember this follows an enormous gain for the week. how about the s&p 500? i presume that ever so slightly lower. yes, it is, down .10%. the nasdaq which has had the best gain of the week, is down all of .14%. i'm calling this market ever so slightly lower after a whopping great big rally this week. there are some individual stocks that are moving big-time
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today. we are going to take a look at them with susan starting with square. susan: jack dorsey's other company, i counted, nine target price hikes this morning after way better earnings. take a look at the screen. wells fargo, credit suisse, now calling $200 for the stock. street high is 230 call from needham. i think you have to credit jack dorsey for seeing future trends. square generating $1 billion in sales for bitcoin for the very first time and we know bitcoin is surging back to 2018 record levels. also, their cash app which allows you to pay me directly which i hope you will do in the future on your phone. consumers have stored their stimulus checks on their cash app. that means more stores are using square to charge customers. this stock is flying this year. stuart: i like dorsey and square. not so keen on dorsey and twitter but that's another story. okay. all right. now, i've got to take a look at peloton. we have been following it very very closely. the stock is down 2.25%, even though they had really good
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earnings. so lauren, why are they down? lauren: because they can't keep up with demand. sales tripled, tripled in the quarter. raised their outlook for the year. peloton says they will be under supply chain constraints and warns of, this is a quote, unacceptable long wait times for the foreseeable future. here's more good news. 1.33 million users, they are averaging. this blew my mind. 21 million workouts a month. that is a lot of working out. it's almost double what we saw last year. the stock is down about 2% today. but analysts are still pretty bullish. stuart: it's done very very well. that's the truth. $123 a share, peloton. thanks, lauren. look at roku. big pandemic winner. this is the streaming company. susan: awesome numbers in the quarter, making money instead of losing money. that's what wall street had anticipated. roku also had more users with active accounts jumping by 43% from last year. think of it.
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43% more accounts this year. more consumers of course buying roku devices during the pandemic, they are trying to stream at home, right. you had monstrous streaming hours, surging get this, guess how much? stuart: 14.8 billion. susan: you just read my script. from july to september. 14.8 billion hours of streaming. covid has meant less people going to theaters, streaming at home. roku of course dominates this market, over 40% market share. they are getting rewarded. the stock is up 74% so far. stuart: fantastic. it really is. next case, zillow. come in, ash. big earnings. that's the real estate market, isn't it? go. ashley: it is. zillow has had a great year. stock has more than doubled this year after an impressive 127%. last quarter earnings came in close to $40 million or 17 cents a share compared to a loss during the same period last year. revenue was down but guess what?
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it still beat those dreaded expectations. also adding to the upbeat sentiment, the company's outlook for the fourth quarter also better than expected. it's also restarted buying and selling homes. remember it started doing that. it shut it down in the middle of the lockdown. now it's doing it again. by the way, traffic in this quarter to its mobile app and website increased to a record 236 million average monthly unique users. been a good solid stretch for zillow. stuart: that's right. where do you go when you want to find a home price or look at a home? you go to zillow. even i do that. all right, thanks, ash. i want to see uber. they are up at $42 a share. good earnings. susan: yeah. smaller loss than anticipated. still losing money. the stock got hammered in the after-hours. ride hailing still struggling. getting better, because uber says september was only down 7% compared to the 70% declines they saw at the height of covid in march and april. the u.s., though, is the slowest
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to recover which i found surprising, since it's their biggest market. the west coast, still tough. new york city is picking up. talking about that victory in california on prop 22, thankfully not having to reclassify their drivers as employees, uber says look, it's the right thing to do but they are getting ready for more state fights on the issue in the future. bright spot, uber eats tripling in the quarter. restaurant closures meant that customers were ordering in, get this, $2 billion in delivery orders around the world. even you have used uber eats now, haven't you? stuart: no, no. susan: okay. well, you ordered in. i try to find the trend here for you. stuart: i lost your vote count right there. okay. now, what's -- wendy's. they are in the news, making some kind of big change. what is it? lauren: this is the varney trend. people are going to the drive-through more than ever. so the ceo reportedly has drummed up prototypes of drive-through only restaurants. it doesn't mean they are going to do it but they are looking at
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where their growth is right now, and it's in two places. it's on digital so folks placing their order on their phones and then driving up to the drive-through and picking it up. the other one is breakfast. first of all, when i saw that, because we go to wendy's all the time, the drive-through, i said they have breakfast? i didn't even notice. then that counters everybody else. all the other chains are hurting because people aren't going to school, aren't commuting to work, breakfast sales are down. but that is not the case at wendy's. stuart: as long as we know that one. my bacon jalapeno cheeseburger. got that. ashley,cinemark seeing some success after they adapted to the pandemic? they are down 3.5%. what's going on? ashley: yeah. well, let's get to it. the movie theater chain says it sold nearly 50,000 private watch parties in the last four months, calling it a resounding success. cinemark says to date, more than 600,000 people have attended a
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private watch event with many reporting it was the first time back in a theater since the shutdown. the company has also implemented a series of new cleaning and safety products and has assigned what it calls a safety monitor to each theater shift. about 35% of the domestic theaters have reopened since september but it's so hard to attract any sizeable audiences, in the third quartercinemark reported revenue that plunged 67% with sales falling well short of forecast and as a result, that stock down essentially 4% today. still a tough go for the cinemas. stuart: can see that. thanks, ash. check that big board. we have turned south. we are down 140 points. the main political news of the day is that joe biden has moved to a leading position in georgia and in pennsylvania. that's the political news. didn't appear to affect the stock market this morning. but maybe we've got a little down side move right now. susan: i think so.
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stuart: so long as the senate is still in the republicans' hands, i think the market's okay. susan: i also think the gop picking up seats in the house is a good sign as well. stuart: sure. the market is now down 150. that's nothing after the rally we have had this week. where's the ten-year treasury yield this morning? i think it's -- it's gone up. .82%. i won't try to read any significance into that. .82% on the ten-year. as for the price of gold, where's that? $1950, up three bucks this morning. best week since july. susan: best week since july. we might even test 2,000 levels if this election goes on, is contested for a long time. people think about all the money printing still coming from the federal reserve, you bet 2000 is coming around the corner. stuart: bitcoin went to 15,000? susan: 15,500, actually. that's the highest since january of 2018. we could be retesting those record levels above 20,000. stuart: all right. it's friday morning. we've got the market open. we are eight minutes into the trading session. down 130 on the dow.
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president trump claims the media polling interfered with our election. watch this. >> media polling was election interference in the truest sense of that word. fake polls were designed to keep our voters at home, create the illusion of momentum for mr. biden. they were what's called suppression polls. stuart: now take a look at this. abc, nbc, cbs all cut away from the president's news conference. more on that coming up for you. friday morning. just getting started. ♪ trelegy for copd.
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that is a 1% loss. bob doll is with us. bob, with these lawsuits and probable recounts, doesn't look like we will have an official presidential election result until december. how do you think the market would react to that kind of delay? >> well, as you probably know, the market is assuming joe biden's going to win and the republicans are going to take the senate. if it deviates from that or people begin to question that, i think the market will settle back and give up some of these big gains. but a biden presidency and a republican senate, the market can live with that. where joe biden, mitch mcconnell will kind of have to get together and figure things out. the market will be fine with that. on top of that, you've got the good employment report today on many fronts and the fact that the earnings numbers continue to be pretty good, stuart. stuart: let's switch away from politics and the market and switch toward economics and earnings for the market.
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as you said, that was a strong jobs report this morning. the unemployment rate cut in half since april. and i'm seeing some of these earnings reports that are particularly good. overall, what's corporate profitability like, bob? >> so to dwell on the employment report, you mention, it's not just the headline number but the unemployment rate under 7%. who would have thunk it. of course, the participation rate is up. you put this together, it's a very good report. on earnings, the third quarter which we're still starting to wrap up, less bad than expected. going into the quarter, consensus was that earnings would be down 23%. it looks like they are going to be about ten points better than that. that's an amazing delta. corporations are doing a great job controlling their costs and finding places to grow their top line. now, i know there's some industries that are still deep
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recession, borderline depression, but there are other parts of the market, home building, parts of technology, lots of health care, that are doing very well and have a covid tail wind, if you will. stuart: if it remains true that the republicans keep the senate, regardless of the white house, if that stays constant, and the fed keeps printing money, do you see the stock market holding on to its current gains and maybe moving higher? >> yeah, i think, look, we had a huge week. we've got to digest that. i know last week was not so good. it was a bit of a reversal. i'm still of the view that the september i'm going to call it blowoff to that almost 3600 on the s&p might be the high for the year. i don't see big declines but i think we've got to digest this and recognize that we still have issues in the economy, we still have covid cases moving up a significant amount. we're not out of the woods on all these things. but we could have a decent
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political climate next year. stuart: okay. bob doll, thanks for joining us on an important day. always appreciate it, sir. see you again soon. >> thank you. stuart: main news of the day, joe biden takes the lead in pennsylvania. grady trimble is in philadelphia. grady, i know they're still counting. could biden's lead actually expand? reporter: potentially. right now he's up by just about 5,000 votes, a very small margin. they are still counting in the pennsylvania convention center here in philadelphia, those mail-in ballots. they are also counting mail-in ballots in pittsburgh and other parts of the state. we know that 75% or so of those mail-in ballots have gone to biden, so you can do the math, with about 163,000 mail-in ballots left to count, according to the last update from the secretary of state around midnight last night. and we showed you yesterday, the protests in this area. there were the anti-trump count every vote protesters and the pro-trump protesters on the
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other side of the street. tensions boiled over last night. i want to show you if we can go live to this hummer right behind me here. philadelphia police reportedly thwarted a potential attack on the convention center where those mail-in ballots are being counted. police took two armed men into custody nearby. they say the men drove into the city from out of state in a hummer, believed to be this one. it has qanon stickers on the outside and qanon bucket hat on the inside as well as what appears to be a box of bullets. things have taken a turn for, well, the frightening here in philadelphia overnight and as we know, the slew of lawsuits, that will play out here but i also want to point out that if the margin stays as small as it is right now, that would automatically trigger a recount here in pennsylvania. so it could be a long road ahead. stuart: indeed it could. that will be a delay. thanks very much indeed. now, let's see what we've got coming up. looks to me like california saw
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some serious change in this week's election. our resident california guy, steve hilton, is here. i will ask him what he thinks about the changes which i perceive in the formerly golden state. dramatic political news in georgia and in pennsylvania. joe biden takes the lead in both states. live reports on that coming up. ♪ our retirement plan with voya gives us confidence. yeah, they help us with achievable steps along the way... ...so we can spend a bit now, knowing we're prepared for the future. surprise! we renovated the guest room, so you can live with us. oooh, well... i'm good at my condo. oh. i love her condo. nana throws the best parties. well planned, well invested, well protected. voya. be confident to and through retirement.
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and be healthy. get off the floor and get on the aerotrainer. go to aerotrainer.com, that's a-e-r-o-trainer.com. stuart: joe biden is now up by just over 1,000 votes in georgia. the flip to him came overnight. fox's jonathan serrie is in atlanta. jonathan, key question. how many ballots are left to be counted? reporter: according to the latest information from the secretary of state's office, 8,197 ballots statewide. more than half of those outstanding ballots are from gwinnett county. this is significant because this is a democrat-leaning suburb of atlanta, just north of atlanta, has a high immigrant population
quote
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and so the votes out of that county are expected to favor joe biden. as far as strategy for the trump campaign, not only nationally but here in georgia, it has been questioning the integrity of the election system. they held a rally here in atlanta last night. in fact, let's take a listen to state representative vernon jones. he's a democrat who supports president trump. take a listen. >> wiif joe biden wins this election, there's going to be some payback. not violence. half of this country will believe that they cheated us out of this election. reporter: outstanding ballots processed overnight in the atlanta suburb of clayton county contributed to joe biden's lead. georgia's top elections official, secretary of state, is a pro-trump republican but so far, his office is defending the
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integrity of the election. >> with these elections directors, they're doing the best to make sure every legal vote is counted and the outcome will be whatever the voters of georgia have chosen and yes, it's a tight race. so be patient. the outcome will be certified. we will have an audit so we will all know the outcome is correct. reporter: stuart, in addition to those 8,197 outstanding ballots, ballots waiting to be counted statewide, there are as many as 8,899 military and overseas ballots that could potentially come in. the reason they're not included in that total of uncounted ballots is they have to arrive by 5:00 today in order to qualify and they also have to carry a postmark no later than election day last tuesday. so in theory, by the end of business today, georgia could receive anywhere from zero to
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8,899 military and overseas ballots. so it's yet to be seen how much of an impact that will have on the georgia race. stuart: jonathan serrie right there in atlanta, thank you very much indeed. still ahead on this program, larry kudlow, candace owens, john concha. the second hour of "varney" just ahead. ♪ did you know that geico's whole 15 minutes thing... that came from me. really. my first idea was "in one quarter of an hour, your savings will tower... over you. figuratively speaking." but that's not catchy, is it? that's not going to swim about in your brain. so i thought, what about...
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stuart: they are still counting, it's extremely close, there has been a shift in the voting tallies towards joe biden into key states, georgia, joe biden took the lead overnight, he's out by more than 1000 votes, georgia has 16 electoral college votes is also important for control of the senate, republicans lead in both senate races but there less than 50% of the vote which means there's likely to be a runoff election there, the two senate seats, here's the big news, pennsylvania, joe biden now leads i over 5500 votes, this
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time yesterday try to lead by 600,000 now biden by 5500, pennsylvania has 20 electoral college votes, as for nevada biden leading there by 11000 votes, not much change in that vote and tally but the three hours behind new york, north carolina the only state and bidens count that is firmly there this moment amongst the tossup states, that states still firmly in the president count with his lead at 76000, there will be updates in the vote on the hours ahead, were very close to final counts and some of the tossup battleground states. as for the markets, you got dramatic political news, the shift in georgia and pennsylvania but that does not appear to affected the stock market that much of it all, the dow is down 140 but this follows a huge gain earlier in the week same story with the nasdaq, down 130, more than 1% but that follows a huge gain earlier in the week.
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red ink on the market, dramatic political news the second hour of "varney" just getting started. loca♪ ♪ ♪. stuart: this great political situation we've got here, susan has never heard of jimi hendrix are all along the watchtower. susan: i love jimi hendrix, he's an icon we all know. it's a good music for friday. susan: cloud acoustic music for friday, jimi hendrix all along
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the watchtower, let's get straight back to the main news of the day, the state of play, tammy bruce is here, tammy the news today with the turning of the tide against the president and most of the key races, what do you make of it? >> i think we've heard over the last several days, the concern of many americans that the state to play overall when it comes to what the president delivered, when it comes to votes and who's been winning down the ballot is the issue of course of fraud, it doesn't even need to be widespread nationally, you can have very specific areas that are targeted that can make a difference as we've seen and of course we have a great system, the trump campaign continues on to say that they believe that this is going on when it comes to fraud in particular areas that have turned this race, that is unfair, i think a lot of americans would agree that we don't want to be given the impression that this race is
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lost to a bunch of dead people voting, that is not helpful for anyone, whoever becomes president or the american people it's not about being stolen from a particular individual either trump or biden it's about what the american people are deciding in these various states, the trump campaign has a lot of options as we've heard from your program in the previous hour, military ballots remain outstanding everywhere and that of course is something i hope the trump campaign is watching and making sure that those are received and counted. there is still an openness to this and also by the way the situation with the house of representatives that seem somewhat unclear still, there is a lot of races that have not been decided that republicans are leading in or that it's very close, it is a nailbiter but i think our system, our court system is something that we will likely have to turn to in many
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different ways and we will see where that goes. stuart: i think you're absolutely right to put some attention on the house because speaker pelosi went into this thing thinking that she was going to expand her majority, in fact it's hardly been cut almost in half and that suggested that her leadership position is in doubt, would you go that far? >> that is right, yes, the speaker is supposed to raise money, that's one of the reasons they get elected but also increase the majority, and she has been feeling at that. and she also is a bit deluded, she said in a phone call that has been released like a zoom call with the caucus that they had a mandate, no, they lost many seats, there are extraordinary number of republican women entering the house, many of them if not the majority are pro-life, the arguments are going to be very, very different, the democrats took no statehouses on election
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day but i believe the statehouse at least in alaska was flipped to the republicans which by the way is still a race that is not been called which of course is also making americans scratch their head, but nancy pelosi is in some trouble, i think the democrats realize what happened on election day was not good for them and someone's going to have to pay the price and it very well may be nancy pelosi. stuart: will leave it at that tammy bruce on a friday morning, thank you we appreciate it. i want to bring in chad from d.c., i want this day to play in the senate please chad, georgia seems to be the key, what say you? >> georgia is on her mind right now, the senate would actually start early next year 51 - 48 in favor of the republicans, the reason because the runoff starts these two prospective runoffs for the georgia senate seat would come two days after the new congress starts, kelli
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butler, her term would carry over, she is fitfully the unexpired are term of johnny isakson, she will remain in the senate until there's a call that particular base, what would happen the senate would start republican for sure but if democrats have to pick up both of the seeds then you have a 50/50 senate, what does that mean, a bit of a misnomer that the party of the president and the vice president who can break ties in the senate but that means that the majority party, that is not exactly how it works the last time we had a tight senate was in 2001 50/50 and tod trent worked out a power-sharing agreement back in the 1880s, there was no power-sharing agreement 1881 when there was a tight senate and that was a problem for a while and frankly got a situation in the 1950s where there were nine senators who died so the majority flip back multiple times and there was a point where republicans were in the minority but william
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knowland from california was allowed to be the majority leader, how this goes and whether or not mitch mcconnell and chuck schumer could work out a power-sharing agreement in this toxic fight political environment about 20 years ago, that would probably remain to be seen. stuart: your familiar with these individual races, give me the big picture for a second and the senate. , there is no doubt is there that republicans keep overall control of the senate, there is no real doubt about that is there. >> not necessarily, the runoff sometimes surprise people. republicans have a very good track record winning runoffs in georgia, the last time you had one was in 2008 between saks and dick, and he lost to the republican, all say this, if we have a declaration of two who is expected to be the president, that will probably be the first referendum on either joe biden or president trump whether or not they are able to be successful and turn the senate
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races for their party. stuart: that is georgia, the senate races all over the country. >> that's right. stuart: it looks like the republicans keep control. >> but if democrats win those two seats it's 50/50 and that's why talk about the tie in the power-sharing arrangement between those two any years ago, that's going to be key. is it an uphill pothole for democrats to win both of the seats, yes, probably. stuart: i did not realize there is any math to be done on this program. >> as i always say, it's always about the math on capitol hill. chad pergram. thank you so much. let's get back to the markets, we turned a little slippage, the dow has come back a bit, were down 94, not that much, the nasdaq is down 100 and i find this interesting, some people buy into the indexed, you can buy the s&p 500, somebody said is going up.
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susan: it is going up, that's what they're saying if you're an investor you're probably make money over the next 12 months but they are predicting 3750 by the end of next year, that the implied upside of more than 7% by the end of 2021, that's pretty good 7% gains for your retirement fund, they say a democrat in the white house and the divided congress is a good thing for stocks historically going back to 1984 and they say gridlock is good, december might be a bit weak if it's a skinny stimulus bill of 50/50 in a lame-duck session but going forward lower taxes, less international trade friction will help the market. i want to point out where here on a friday, that is usually when people take money off the table after a very strong weekly rally which is what we sing, i think that's plain to be a loss that were looking at. stuart: you might be summing that right now the end of the week a little profit-taking, why not a great week, blackrock, their leader is larry larry think, he's been speaking out
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about the election, what is he saying. >> exactly what susan just said, essentially he is saying now is a very good time to manage money because of the seven, eight, almost 9% gains that we see this week for all the major markets but here's the thing about larry, he is a democrat and potentially treasury secretary and a potential biden a administration. so his voice even speaks louder right now, his idea on divided government is that biden will be moderated by the republican senate, investors benefit from that but he also looks at the pandemic and were looking at the pandemic with the jobs report that we got. companies were adding workers but that could change as we get into winter. larry flink is saying we've had so many promising and successful covid treatments, the death rate is not what it was in the beginning and also a vaccine is coming early next year so he
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is overall very optimistic and now the time to put money in. stuart: we listen to larry fink because he has a lot of money and runs an important company. lauren: money manager. stuart: he is the largest money manager. that's right. speaker pelosi, confidently expected to win more house seats, did not happen and now she's facing intense opposition for moderates who think she went much too far left, this is abigail, newly elected republican, watch this. >> we watched what we shouldn't have watched the number one concern the people brought to me was defunding the police and if we are classifying as the success, we need to look at the [bleep] torn apart in 2022.
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stuart: we apologize, she is a democrat, i apologize for that, back to the speaker she led and consistently insulted the president and tour of the state of the union speech, she is paying a price for that. her leadership position is now threatened. that is my take, and about 30 minutes we will hear from nancy pelosi for the first time since the election and you will hear what she has to say. we also have an all-star lineup, larry kudlow is going to join us again, candace owens, steve hilton all coming up on this program today. the news coming thick and fast as accounting continues, were all over it, second hour of varney rolling on. ♪ non-valvular afib can mean a lifetime of blood thinners.
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stuart: we better take a look at the race in arizona, folks have predicted joe biden to be the winner, he currently leads president trump by around 47000 votes, kevin cork is in phoenix, obvious question, how many votes are left to be counted? >> good to be with you, maybe 225,000 or 230,000 yet to be processed here according to state officials, ig pointed out the cow is ongoing as we join you from here in maricopa county, we expect a new trove of process pallets to be revealed sometime around 11:00 a.m. eastern time, 9:00 a.m. local time about 225,000 ballots yet to be processed say state officials, the former vice president still leading over 3%, 51 - 47 give or take although the gap is decreasing rapidly according to trump campaign
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officials. yesterday we were here with the latest batch of votes were delivered, trump campaign remaining confident that the prudent gap will continue to close and eventually he will overtake his opponent, in fact outside the election center in maricopa county we were just adjacent to the freedom of speech zone, as you can imagine emotions intentions were running hot as supporters of the president demanded caution before calling the state for joe biden. state officials insist this process is moving forward as expected. >> these are folks weapon working around-the-clock since tuesday to make sure that every single vote gets counted and we really just need to let them do their job. >> you heard her say make sure every single vote gets counted. trump campaign officials say make sure it's every single legal vote that gets counted. again we expect a new trove to be delivered around 11 eastern
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time, i will deliver the news. stuart: we will take it, thank you very much indeed, back to you shortly. common rachel campos-duffy, is there a way around it, we can't avoid this, the tide has turned in joe biden's favor, and your response please. >> it's still a very close election and it's not like there is a biden blowout, these are razor thin margins and i think the trump campaign is smart to challenges because there are some anomalies, i was just on the other channel on fox the main channel and was with a democrat consulted and asked him why does your party have a problem with transparency with republicans coming in and observing what is happening, a judge ordered them to do it and they still refused. i think people are right have questions and people had questions earlier this summer with the excuse of covid made some of these states change their rules and mail ballots to
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everyone, we've never seen that before on the scale and it was right for abuse, fraud and i think that's what people are concerned about. if indeed joe biden is going to be the next president then it would be good for the democrats to lend some legitimacy to this presidency by allowing more transparency in the process, but they are not doing that. there's only one explanation for why they're not doing that, it must be that they're afraid that there is fraud that is going to be found out. stuart: you're close to the administration do you think the president is going to fight this to the bitter and in the courts and drag this out way into december. >> while one of the reasons republicans have always liked donald trump is that he's a fighter, it would be hard for me too imagine given the anomalies that we seen and given the kind stuff that happened with the polling and the suppression of republican votes and everything that has been thrown at this president that he would at the
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last hour not go down fighting, he is a fighter and i think his base, his voters, all those people that turned out en masse at rallies and non-organized spy campaigns, vote rallies, car rallies, they also want him to fight, i think we should let the courts decide what happen here and hopefully we will see and if donald trump goes through that process and at the end it is still joe biden's and so be it. and i promise you one thing, publicpuanblblill nototonoot leanurdn aurn aur t ahe thelehet gsin e,oc traemav h don h campaign or admin aistr aatiotre wk om theomidids strece, wcee wilel wilo wilohate always do as republicans which is gather ourselves together and when the next time.
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stuart: i'm very pleased that you made it over here to fox business from the main channel of fox news, i noticed. >> but i love you guys the most over here fox business. you know that. stuart: you are all right, come back soon. this is interesting, facebook majoring violence and incitement trends. susan: spike by 45% in the seven days leading up to the election and the metric analyzes potentially dangerous search terms and hashtags, and went up to 580 from 400 and those seven days, facebook making news last night they took down a fast-growing group called stop the field, organizing protest around the country up to 350,000 tidied up and just 24 hours. that was important to facebook but causing controversy because some people think the censorship and according to reports you have facebook possibly changing their algorithms and classify
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and bring content and if you try to post anything on election related stuff, facebook is making a quick through a lot of their voter information hub leaks shall we say, that is to slow down the friction in the spread of election post. they don't want a repeat of 2016, they learned that lesson, took a lot of heat for that so it's been next are cautious, we know they ban all election ads for the temporarily after election night. stuart: it seems extreme to band stop the steel, that would probably be a trump conservative group, 300,000 odd people in that group and their off facebook, that would seem to be censoring a conservative point of view. susan: some of the hashtags that they are reportedly looking at very closely is the # trump 2020, gop white house related links. some would point to conservative bias once again. stuart: i went to pray thank you very much. listen to this, when it comes to
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amazon product searches, there is a clear winner and lauren will tell me who it is. lauren: donald trump, amazon product searches when you go in and look at trump hat, there were 2 million plus in the past month for something from trump and about 800,000 for joe biden, if you want to know the most popular items on the trump side it is a trump maga hat and for biden it is biden harris 2020-yard side and in new jersey you might've seen a lot of those all around where i live. if you look at the enthusiasm behind the story what people are searching to buy on amazon is clearly enthusiasm behind trump and that's something we have seen consistently even if the polls are suggesting otherwise. stuart: good stuff, thank you very much indeed. check out the market before we go to a commercial break, we are down pretty much across the board but that is nothing compared to the gains that we've had so far this week.
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stuart: on a day like this you have to concentrate on politics as well as money in the political development of the day primarily our lease, a flip, turn overnight in the number of votes for president trump and for joe biden, we have georgia and pennsylvania flipping now in favor of joe biden. in fact joe biden appears to be leading in all five of the states on your screen except for north carolina where the president still holds a 76000 vote lead. on the market this morning not much of a response to the political development, down 60 on they're down and down 53 on the nasdaq. remember this is a friday following a week of extraordinary strong gains for the market, that is not much of a pullback. we are seeing strength primarily in big tech throughout this week and the only down a tiny fraction so far today. in other words no real pullback
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even though you got some serious political developments in the news, at this moment it remains clear, fairly clear that the republicans will retain control of the senate, it is also clear that there's real trouble for speaker pelosi in the house, she has seen her majority decrease, she has lost we believe seven seats in the house, maybe more than that when the final numbers come in. now we are joined by larry kudlow, national economic council director. i've got to start with politics. two guests who were members of the trump team withdrew from our program this morning, david bossie and tim murtaugh, they were called off the program, we believe to go to meetings in the white house. is there significance in that, is there regrouping within the white house bearing in mind these difficult political developments outside? what do you say is.
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>> you've got the best of the herd, the best of the litter, the cream of the cop, what more can we do. stuart: let's get serious, i want to talk to you, you are a serious guy, what is the state to play with in the white house at the moment. i've got to tell you, john roberts from fox is saying that trump says he will not concede the dividing camp is responding that the united states government is perfectly capable of excoriating trespassers out of the white house, this is intense stuff, what is the situation of the white house. >> i'm not going to comment on this campaign stuff. i understand it is important but my lane is economic policy. i know that the president wants to make sure that this is a fair election and illegal election with legal ballots. he said that many times
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including last evening, vice president pence has said the same thing. and of course that's all i can really say. i'm not going to forecast, not going to predict, the united states is the greatest democracy in the world, we have always abided by the rule of law and we will continue to abide by the rule of law. stuart: will he continue to fight through the courts to the bitter end? >> i don't know about the bitter and, i don't know what that means but i will say to you seriously, i did speak to him this morning and i believe he intends to fight for what he believes in and he intends to fight what he perceives to be some nonlegal problems, that's the way offerings are, i'm not the lawyer. yes the president intends to fight, that i can tell you. stuart: larry kudlow i know you want to talk about the jobs report until our viewers, that's a fact but it occurs to me it was a strong jobs report but it came a bit late, a few days after the election, so it lost its political importance so it was a strong report.
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>> for the 906,000 private sector workers who got back to work, we're down to 6.9% unemployment which is extraordinary in six months during this pandemic contraction and i would say to you that these numbers show you how strong the economy is going to be going into the fourth quart quarter. so we are in november, these october numbers, it shows you how strong we are a people who think that the fourth quarter is going to be bad or negative or something are wrong, across-the-board, the ism's show how strong we are doing, automobiles, housing, retailing, all of those numbers coming in strong trade income, disposable
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income after tax coming in strong, this thing has a lot of momentum, it is a v-shaped recovery, has a lot of momentum behind it and i'll say one last point, you have a nice business cycle situation where the savings rate is up way up 14% plus and the inventories are still down, that means you're going to have strong demand and all the manufacturers and the builders and the retailers are going to have to rebuild their inventories, that shows power for the economy, not only in the fourth quarter but spilling over into 2021. stuart: another positive in my opinion and i think in yours, is socialism dead in america? >> socialism got pretty bad reviews on tuesday, that's an interesting point, there was no blue wave, we've gained a bunch of seats in the house, the estimates are range of at least 10 - 12 seats perhaps as high as 18 seats, we will hold the senate in the presidential race is very, very very close. the democratic party leftward move toward socialism, high
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taxes, reregulation taking over large chunks of the economy such as healthcare and punishing success, not rewarding it, we've all kind of central planning plans, i would throw those plans away. i think they go into the trash bucket, we will govern and i think the last point, president trump, this recovery we had a good rescue package last winter led by secretary mnuchin in the president but low taxes and low regulations are still in place as people recover, let's not forget that, and i don't think the trump tax cut will be overturned, no matter what the outcome of the election. of course president trump reelected will cut taxes and lower regulation. if it turned out differently i still think his policies are so consequential and tied to this incredible pandemic recovery
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much less the first three years were the middle class did so well. i think folks want that to say, those policies will stay in place be when you ended on a high note, well done indeed. hope to see you again very soon. coming up, nancy pelosi, speaker pelosi will hold her first postelection press conference and we will bring it to you soon. ♪ i searched and found sofi and applied for a personal loan. i paid off my credit cards and felt a weight come off my shoulders. thank you sofi for a great experience and for helping me get my money right.
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find a stock basedtech. on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity. stuart: left-hand side of the screen gorgeous secretary of state saying he expects a recount in georgia because the margin between the two candidates is extremely small. however, they won't know formally who one, they cannot say formally who one until it is certified, that could take about a week.
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harmeet dhillon joins us, republican national committee california representative. a state official there says there are just over 4000 ballots left to count, what is the significance of all of this. >> they also said there's an unknown number of military and georgia residents who live abroad that have to be counted, we don't know that number but it's too close to call so i appreciate their sentiment so we need to finish the counting and then certified the vote, that is the appropriate series of steps to do, when all the ballots are counted we will see a different outcome, if it is not georgia will be called for the former vice president. stuart: there will be a delay, for those of our viewers who are expecting some kind of call about georgia in the very near future, they are not going to get it, you have at least a week to go, is accurate.
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>> that is correct, that is how it should be in every jurisdiction, what we need to do is make sure only legal ballots are counted and illegal are discarded and then we have account and in the their is a dispute in either a recount or court weighing in them will have a final verdict, this is not a novel process, this is not how we do it in america. stuart: are you asking to go back into the account, look at the count as it stands and take out any votes that you think might be bogus, is that the process. >> that's what a recount is, canvassing the ballots again, it involves observers from both sides looking at them and if necessary challenging things that were overlooked before, like i said they still haven't counted some of the biology at. in that situation, we've seen in wisconsin in other cases it is tough to make up a significant difference between the two but are different here is a pretty
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slim one, i do think it's possible until the vote is certified, it is not final. stuart: thank you very much for jumping in at the last minute, we always appreciate it. let's go to jeff flock, he is in milwaukee. any evidence of fraud this far in wisconsin? >> if there is any evidence it has not been presented either by the trump campaign or anyone else, there have been allegations largely on twitter and that sort of thing but those allegations go to that milwaukee central count. by the way i'm in front of the courthouse building whether certifying result, any kind of question comes around the milwaukee central count, we have pictures in there and we were live throughout the count, it was about the most transparent thing i've ever seen in terms of a vote count, dozens of reporters, observers allowed to roam free and unlike in pennsylvania or philadelphia where apparently that is a
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problem, this was tremendously transparent there was a big dump after the count of a lot of bite folks, some people questioned it but milwaukee was also failing ballots which also tend to be democratic, 149,000 bite invokes came in at one point at 3:30 a.m. 31000 trump votes, that is not an unreasonable number in terms of percentages, another thing that people of alleged, there were more votes cast in wisconsin then register voters. the only problem with that they were basing on old numbers in terms of registration, there's actually 3.6 million registered voters in wisconsin and three-point to million ballots cast, if there's any allegations of fraud that are not just the scatter allegation, somebody better come forward, but at this point it does not look. stuart: let's take a look at the markets, this is a strong political swing, georgia and
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pennsylvania swung into the biden camp, he has more votes than president trump and those two key states, that was dramatic news and does not seem to affect the markets, down 50 points for the dow and down 50 on the nasdaq, perhaps not much. more "varney" after this. our own hopes and dreams. we'll pass many milestones. moments that define you. and drive you. to achieve even more. so, celebrate every one. because success isn't just about where you want to get to. it's also about how you get there the all new 2021 cadillac escalade. never stop arriving. it's also about how you get there noand if you're troubledan a lifby falls and bleeds,ers. worry follows you everywhere. over 100,000 people
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stuart: were taking you to pennsylvania where joe biden has built on his lead, he is now 6800 votes in front of president trump, grady trimble is in philadelphia, an update again please. >> absolutely, we have just got new numbers from the secretary of state in terms of the mail-in ballots that still need to be counted, it was about an hour ago 163,000, now it's 124,000 that's between 4% and 5% of the mail-in vote that still has to be counted in pennsylvania. you touched on this but joe biden fleet under 7000 votes if the margin stays where it is, that would trigger an automatic recount in the state but with 124,000 mail-in votes left to be counted in the mail-in votes skewing towards joe biden, his
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margin could expand in this state, we should know that jeff flock before the break was talking about when results will be certified in wisconsin, here in the state of pennsylvania they don't have to certify the results until november 23. we are seeing these numbers as the votes come in but the results might not be certified until about 20 days or 15 days from now. i'm losing track of what day it is. i also wanted to point out the trump campaign is likely going to file more lawsuits and pursue more legal action, this can be a drawn out process beyond november 23 once the results are certified we will be sure to keep you posted. stuart: thank you very much indeed. earlier today john roberts, fox news john roberts reported mr. trump has said he does not intend to concede the election just yet. let's go to fox news peter doocy in wilmington, delaware, what is the response from the biden camp
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to what were reporting about the president and concession? >> the biden team is taken the report that president trump doesn't plan to concede, meaning he would not leave office, we got a response from abiding spokesman who says this, as we said on july 19 the american people will decide the selection in the united states government is perfectly capable of escorting trespassers out of the white house. that also gives us a sense of the tone that we might be getting from biden staffers over the coming hours, the coming days as the legal challenges play out. we are here at biden hq for the third day in a row and there are some reports out there that we are working to confirm that secret service is about to really ramp up protection here. we have not noticed a big change in the posture yet but there is some activity around the stage that we found out yesterday that the biden campaign has only rented through today, we are
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waiting to hear if we are going to see biden today or hear from them but if the campaign sticks to way they have been operating we will get a zoom briefing within the next couple of hours and we should know a lot more about what is next then. stuart: a fast-moving situation, peter doocy always in the middle of it. the postal service is being front and center in the selection, though the delivery of mail-in ballots et cetera. there have been some issues. ashley webster is with us, postal worker caught trying to cross the border with undelivered ballots. tell me more. ashley: a dramatic headline, but there is more to this, 27-year-old brandon wilson arrested in new york at the canadian border, the agents found 800 pieces of undelivered mail in his trump including three absentee ballots from erie county west new york.
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he was caught not because he was running for the border he got lost and took a wrong turn and ended up at the border checkpoint, he told authorities they have been putting mail from his delivery routes in his trump for weeks saying he would replace more numbers back into serving boxes before he started his new shift, he's been employed by the postal service and flashed year, he has been charged with delaying or destroying mail. i think this is less to do about election fraud the more stealing greeting cards, cash, and checks out of the mail, at least that's what the allegations say, there you have it, interesting story. stuart: i think there's more about the postal service, they failed to deliver thousands of mail-in ballots by election day, bring me up to speed on that one. ashley: this is good, this is a report in the washington post the claims the postal service failed to deliver 150,000 mail-in ballots by election day. the report says in critical swing states, less than 85% of the ballots were delivered on
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time, the post office target for the untimed ballot deliveries was 97% but in arizona, nevada, pennsylvania, north carolina and georgia the on-time rate was just 84.6%, by the way pennsylvania north carolina up for a short window of late ballots to arrive and still be counted provided their mail no later than november 3, election day. but neither arizona nor georgia account mail-in ballots that arrive after election day, in this case and validating over 800 votes in each state. what a mess. stuart: let's get down to the details. thank you very much indeed. speaker pelosi is holding a news conference. >> a tremendous mandate that he has and pretty soon the - will be gone from vice president to president elect joe biden, it's a happy day for our country
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because joe biden is a unifier, he is determined to bring people together, because he respects all points of view and as he has said i ran as a democrat i will govern as president for all the people whether they voted for me or not. so i am so officially pleased without, that is imminent and also personally delighted because of the quality and caliber of leadership that joe biden will provide. this morning it is clear that the biden harris ticket will win the white house. his election is historic, it's held by the biggest vote ever in the history of our country, 73.8 million and counting americans, the most votes ever received by any presidential ticket in history. president-elect biden has a strong mandate to lead and he'll
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have a strong democratic house with him. in many democrats in the senate. this is been a life or death fight for the fate of our democracy as he says the soul of our country. we do not win every battle in the house but we did win the war. in 2018 we won 40 seats, 30 or 31 of them in districts where trump had one before. they were in trump districts and in preparation for the 2020 election, i said you have to help us, they said you've one, let's do the senate and the white house, no we won in districts, trump districts would trump not on the ballot and the next election he will be on the ballot and that makes winning those districts a steeper climb. i'm pleased that we overwhelmingly won those districts, not all of them. not all of them.
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but next time he won't be on the ballot. one of the reasons we were able to win so many seats is because of the caliber of leadership of our members, some of them one, a few did not, all of them excellent. and i hope some of them will reconsider and consider going out again. as you all know, the right to vote is a sacred right in our country and having that vote counted as cast is the foundation of our democracy. so we must be patient. this sunday, monday, tuesday become, be confident, be patient. in the votes are telling, the races are called, we look
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forward to continued victories, we have some out there and we look forward to progress for the people which was our agenda and her team continues to be for the people, lower healthcare costs, bigger paychecks by building infrastructure, cleaner government h.r.1 which will be a first on the agenda in january, again it will be h.r.1, while we prepare for the new biden a administration we must also move for a new coronavirus relief bill, we want the republicans to come back to the table, the white house, the leadership, for two days in a row, over 100,000 cases were reported, it would not be greater of nine and a half million, nine and a half million people infected, nearly
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a quarter of a million deaths and tens of millions on unemployment. again i'm calling on the administration to combat to the table. congress has also committed to passing an appropriation bill, this is the core of our work in the lame-duck. when we don't have a pandemic killing hundreds of thousands of people and affecting millions in making people food insecure, housing insecure and the rest. our responsibility. stuart: were just going to break away from the speaker's press conference for a moment, what were interested in and that press conference how the speaker addresses the loss of democrat seats in the house. at the moment she has addressed obliquely saying basically that president trump has coattails and that's why some republicans won house raises and why some democrats lost, that is her
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explanation, as you know she's under great pressure for moderates in the house who object to the presidents strength of the left-wing squad in the house, it is a divided house, divided democrat party in speaker pelosi's explanation, president trump has some coattails. we will go back to that press conference when and if she starts to answer questions and they get more deeply into the moderates objections. right now i want to bring you up to speed on the current state to play politically. they are still county, it's extremely close, there has been a shift in the voting tallies towards joe biden into very key states, all start with georgia they said they will be a recount georgia, joe biden took the lead overnight. he is up by let me look at the screen he is up by 1579 votes, that is in georgia and that is biden up by 1500 votes.
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georgia has 16 electoral college votes, georgia is also important for the senate, republicans lead in both senate races but they have less than 50% of the vote which means there will be a runoff if it stays under 50%. that is georgia, perhaps more significantly in pennsylvania joe biden now leads by 6800 votes, this time yesterday the president led by 600,000 votes, that has been completely reversed in a pennsylvania biden now leads by 6800 votes. pennsylvania has 20 electoral college votes. as for nevada biden leading their by 11438 votes, that total or the lead has stayed pretty consistent. north carolina, the only state in biden's camp, that state right now firmly in the presidents camp he has a lead of
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76700 votes. there will be updates on the votes in the hours ahead, we are very close to final counts and some of the tossup battleground states but in some of them we will get a recount and that will take some time. the markets, interesting response, you might think this trend towards biden would be away from stocks, that's not the case, were only down very slightly, this may be because it looks like the senate will remain under the control of republicans and that's all important point when it comes to higher taxes or the green new deal, we and going to get them if the republicans run the senate. that is why you have a very limited loss on wall street at the moment after a whopping great big rally for the rest of the week. i need some legal advice has been the case many times in my life, right now we need john you, university of california berkeley professor. john, it seems to me that the tactic of the administration, the legal tactic is to ask for a
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recount and go through all ballots currently cast to find any improper votes that can be kicked out, is that where we stand legally? >> i'm going to give you the worst legal advice because it's free, i'm not charging you for this. let me say there is two fronts going on, on the ground, and the trial courts in places like pennsylvania, nevada you are going to see the trump administration say we want to count all the valid boats, we want to have observers and have full transparency and most importantly we want the rules followed and this ties into the second litigation which may in the end be the most important litigation if the president hangs onto georgia should he win nevada or arizona that would make pennsylvania elect world votes the key. the close margin, there are 6 million votes it's only a 6000 vote different right now.
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there there is a case pending at the supreme court about pennsylvania's change of the election deadline from november 3 to today from mailing ballots, the republican party, trump will say that violates the state road to slaters right for the state election day. that is the case we have four justices of the supreme court being led by samuel alito demanded that the supreme court here that right away and he has even signaled that the date has to switch back to november 3. that could invalidate all the mailing ballots coming into pennsylvania since election day, that might be the keystone case in the keystone state. stuart: that would just apply to pennsylvania because it was pennsylvania where the courts said no the election day deadline is not the deadline, it is three days later, so just pennsylvania that's all that it affects? >> that is right. that case only comes into play if pennsylvania becomes the
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decider just like ford or 20 years ago. the first set of cases, the ones about counting the votes, having observers, looking out for mistakes, trying to make sure dead people did not vote, trying to make sure people out of state did not vote, that will be in several places all at once and all of the battleground close states. stuart: is there from evidence available right now the improper voting has taken place in any of the battleground states? >> no, i think the problem is in some of these cases the republican party has been bringing these to court without any evidence. we have two states that have rejected these kinds of claims. the only state where i think you see something that could turn into real proof is nevada, all you have to do is check the voter rolls electronically to make sure everybody who voted as actually living in the state of nevada at the time and there actually residence and have not left, there i think the
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republican party and donald trump says there's several thousand names that have appeared on the voting rolls for people who have actually left and tried to vote after they were no longer residents of the state. stuart: john ui will take your advice free or otherwise and we thank you very much, we like clarity and you delivered, thank you, sir, take a look at the race in arizona, were looking on your screen, biden 50%, donald trump 48.6%, fox has projected that joe biden will be the winner there, kevin cork is in phoenix, arizona, kevin do you have new numbers for us? >> i do have new numbers, i'm glad you mentioned 50 - 48 margin, they have been following this over the last several days using the margin between the former vice president and the president of the united states shrink consistently, one point was 52 - 46, 51 - 47 announced 50 - 48 and we just received
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word from election officials in the state of arizona that the number of ballots that need to still be processed has been clipped by 60000, earlier we told you it was at 225,000, now it's down to 165,000 votes that still have to be processed here in the grand canyon state of arizona. the lead is shrinking rapidly, however, state officials here will learn a lot more within the hour. >> i think it's going exactly as planned, were right where we expected to be at this point in terms of the ballots counted in the balance remaining. >> ballots counted versus balance remaining, it's quite remarkable when you think about it, there still counting ballots why states like florida with larger populations have already been able to work through their ballots on election day, it really is quite a bit of a surprise.
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i tell you this arizona last time in the election cycle in 2016 needed a couple of extra days to work through all the ballots, back then the president won the state, right now joe biden leads but trump campaign officials insist not only shrinking but they will overtake them, the real question becomes will it matter, either way we will be here give you the latest numbers, back to you. stuart: kevin corke in phoenix, president trump raised more than $601 million in this election cycle, however, joe biden pulled in an extraordinary 952 million. david, he is the moneyman, why did the democrats raise so much more money than you? >> it did not matter, the dominant the republicans have on tuesday should go into the political hall of fame. not only did we hold the senate and there is still an outside
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chance that we take the majority in the u.s. house as we are leading in a number of districts that we have not been called but certainly we would reduce even more the majority that nancy pelosi has and our dominance at the state legislature and the tory level, we picked up another governorship in montana, we did not lose a single chamber in the state legislature when we were projected to lose 7 - 10, we lost none and in fact we picked up the new hampshire senate and house and what does all that mean, nancy pelosi can go on her retirement to her because certainly in the 2022 election republicans will regain the majority if we don't do it this time. why is that, because redistricting is coming around and reapportionment is coming around and you're going to be moving members of congress from states like illinois and
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democratic states to republican states. there will be more members of congress from texas, florida, north carolina all reliably republican states. stuart: why do you make of the tide turning at the presidential level, not the senate or the house level but at the presidential level the tide seems to be turning against the president, what is your comment on that. >> we need to continue to let the process play out, we have always known you've covered it well before the election biden has his lawyers ready to sue to make sure he won, the president has his legal team to make sure the elections are carried out fairly and accurately. but what i think i now understand is if you want every legal ballot counted in the process to be done correctly, you are undermining democracy. but if you believe in a hoax and
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take it all the way to impeaching a president, that does not undermine democracy, or if your al gore in only one additional ballots counted in areas that you one, that does not undermine democracy. but to want the actual rules to be followed, you listen to pundits today and they tell you that's a greater strategy to u.s. democracy, it is the biggest amount of hypocrisy that we could ever have in this country. stuart: we hear you, we've been hearing you for the last four years and we always appreciate your presence on this program. david avella. third hour of "varney & company" just getting started, joe concha is going to be here, i will get his take on the media cutting off the president's speech last night. steve hilton will be here on the changes happening in liberal california. and our next guest is suing facebook's third-party fact checkers. she says her centering social media post and making her lose
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money. our guest is candace owens, she joins us after this. ♪ hey! yeah!? i switched to geico and got more! more savings on car insurance!? they helped with homeowners, too! ok! plus motorcycle, boat and rv insurance! geico's got you covered! like a blanket! houston? you seeing this? geico. expect great savings and a whole lot more. g♪ o. ♪ since pioneering the suv in 1935,
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fact checkers, you say there centering social media post, tell us what is the censorship and what do you want from the third-party fact checkers. >> accountability is what i'm after they think right now in america you can understand the left has increased censorship across all social media platforms, all americans not just me having a platform, i was shocked, i was shocked to discover i was centered when i shared an article by an actual doctor talking about the covid-19 deaths and the way that they're being calculated, facebook fact determined that to be untrue, when i looked into the fact checkers it was lead stories.com, llc that was starting in 2015 via nam man nad alan duke the former editor of cnn for 26 years, he leaves cnn and start to fact checking
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grouping gets a massive contract with facebook and becomes an official fact checker, it became apparent at the time that it was important to launch a lawsuit and i wanted to get the best legal team behind me to go after these fact checkers because the more that we look into it the more we realize these are not fact checkers, these are activist in here to put out information that they deem to be okay and acceptable, the idea of censoring doctors unheard of we do not live in the ussr, we are not living under joseph son, we live in a free country, doctors can have different opinions, they cannot decide the only one doctors opinion makes sense and in the time of covid-19 we have seen mass censorship especially during this election cycle, the president is being censored, twitter, this is the beginning of the end for the un-fact checked fact checkers themselves and i'm really happy to bring this lawsuit into the public. stuart: lead the charge, i think you probably lost money by what facebook is doing to you, i think you've lost the money, before we close, did you move
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the needle with the black vote in tuesday's election, 2016, 8% of black folks voted for term, what was in 2020. >> we are not in calculating because we still need georgette and there are a lot of black people that live in georgia but president trump has increased his support among black man by five points and black women he doubled his support it's been increased by four points, we cannot be happier and of course latinos as well, for black and latinos exiting the democrat party and we know how he's done in florida, we've been tremendously happy and this happens still and it's important to point out with him being accused and called a racist, he's been called racist more than any president in the history of the united states and despite that, he has cracked the black vote and were heading in the right direction, more black support for the gop since 1960 there has never been more support for a single candidate and donald j trump did that.
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stuart: go chase down the censorship people, please. come back and see us soon. candace owens. good stuff. we are going to take a look at some of the stocks which are moving up today, the left-hand side of your screen, i see square way up, start with that. susan: you want to start with square, let's start with square, you threw that into the rank, jack dorsey said the company and the reason is because they had blowout turning for the first time they had a billion dollars in bitcoin sales, more people using the cash up to store their unappointed benefits and their higher stimulus checks, let's talk about cvs, fantastic report card, a woman as the next ceo karen lynch, higher profit sales like the rebound when it comes prescription drug, t-mobile another big winner, crushing at record number of customers over 2 million best in the mobile industry, that merger with sprint seems to be paying off in
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square as i mentioned had the nine price target hikes and finally roku, 14.8 billion hours of streaming from july to september, that's all you need to take away activist counts, went up to 50% to roku and i think streaming is to stay and given the active accounts have jumped and people are stuck at home and cannot go to theaters and benefiting the streamers like roku. stuart: i did not know that some of the gains but well-known companies like t-mobile, roku, their huge. susan: corporate america is doing very well. and were six points a way of joining positive on the s&p 500, i think by the end of today it might go in the green. stuart: a prediction from susan li that we might go green by 4:00 p.m. eastern, only time will tell. now show me the cleaning stocks, the ftc is warning that people who buy clorox and lysol, what is the warning, what is the problem. lauren: they like the stocks,
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there are 25 websites that have been tricking customers into thinking that they are legitimately selling lysol, clorox and other cleaning products that are nearly impossible to find in the food stores, eight-month into the pandemic but the websites are fake, they're not delivering the cleaning products, they're not giving refunds either in some cases there delivering other products like a box of socks instead, the ftc has sent warning notices to these websites that you're praying on customers fears because people want to clean everything, they cannot get clorox and are selling them clorox but really not. stuart: eight months and were still in short supply for some of these products, that's extraordinary speaker isn't that amazing, some of the materials they use for the cleaning products are used in ppe so the protective gear, that is one of the issues but the demand is through the roof, i have not
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been able to buy clorox or lysol and well, i don't think ever, i think since this all started, every food store i go to, that part of the shelf is empty. stuart: how about that, thank you very much indeed. there is some strength in the market this morning, we believe that the republicans will keep the senate, will probably get some stimulus plan by the end of the year and we've got good earnings report and we've got good jobs numbers. susan: more jobs than anticipated. it's getting lost in the election drama, 630,000 in the month of october, 15000 more jobs in august and september, falling below 7% and more telling that workers are being rehired as looking at the average workweek hours, that went up more than anticipated, that is a good sign that people are being brought back into workforce along with the participation rate. stuart: are we on track, i know were down a bit now but are we
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on track for a whopping big week. susan: best election weekend decades. were on track for a whopping 7% gain, that is the best we have seen for any election cycle going back to 1932 when franklin roosevelt defeated herbert hoover, i know you were around then but better than president trump's surprise victory four years ago as well but not as bad, i think this is important not as bad as 2000 bush versus gore the other drawn out vote, gridlock is good, since you have a democrat in the white house to divide congress, that is good for the stock market, calling 3750 for the s&p 500 for then and of next year that is gains of 7%. stuart: we got it all, up next the three broadcast news networks cut out of president trump's white house speech yesterday, that is halfway through it. mediated guy joe conger fired up about that one, he joins me next.
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so i kept it in. he started believing things that weren't true. i knew something was wrong... but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine... proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia-related psychosis and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the most common side effects are swelling of the arms and legs and confusion. we spoke up and it made all the difference. ask your parkinson's specialist about nuplazid.
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it's supposed to be to the advantage of the democrats but in all cases there so one-sided. >> president trump speaking live from the white house, we have to interrupt because the president has made a number of false statements. >> likewise in georgia i made a lot. >> for the president of the united states addressing the american people for the first time claiming if you count the legal votes, i easily win. stuart: the mainstream media cutting off the president in the middle of his white house statement last night, the entire event was 60 minutes and 35 seconds, the free broadcast news network showed los less than han abc only showed five minutes. jojoe concha joins us now. >> i enjoyed most nbc the anchor was brian williams at the time, brian williams was backtracking president trump, i'm glad to see you doing so well after all the
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income he got in iraq or the dead bodies in new orleans, in other words, in these cases we seen the pattern where the media screams for transparency from its leaders, here you have the president of the united states begin directly to the american people and what did the networks do they follow twitter and decide to either pull or cut away from this particular coverage because they believe that you, the viewer are not mature, not adult enough to come to your own conclusion, if you want to fact check the president afterwards because he made reckless statements, fine, that your job but to cut away and they were going to tell you what he said and interpret what he said, this is why 84% of the american people according to gallup believe the media no longer informs the country but actually bears the blame and dividing it is picking aside once again. stuart: the american people at this point, a large majority i would say has absolutely no
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faith in the professionalism of america's mainstream media, that is a strong statement but i am making it, what say you? >> after three years of hearing about russian interference, the russians hacked our election in 2016 and no evidence was provided to back up that claim to now lecture about what is going on in the selection in terms of what evidence is presented and we should be clear the trump campaign, the trump team is not presented any hard evidence that they were manipulated at the same time this is where we are at this point were going forward this is going to get uglier and uglier i'm afraid. stuart: i am afraid so too, want to play a clip of cnn commentator implying that president trump is racist for raising concerns about voter fraud. watch this. >> it's unbelievable that he can say these cities are known for corruption et cetera et cetera.
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does this corruption all across this country in every institution, why are you singling out these two black cities, why are you denying the victory that these people have fought for. stuart: again, your reaction, how about it. >> we always seem to talk about racism a lot, don't we. there is one time between july 14 - july 21 were msnbc and cnn said the word racist or racism 4100 times in one week, that is a most mathematically impossible to do, everything is seen through a racial prism, the bottom line if you look at this as a journalist, philadelphia has had problems in the past in terms of voter integrity but this time around, bears the question, i'm not coming into any conclusion, there was one voting dump about a day ago where joe biden got 223,000 votes that donald trump 0.
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you're telling me in one batch there was not one vote for president who made inroads more with the african-american community, with hispanics and joe biden wins 223000 - 0, there is at least investigation and looking into but if you bring up a question you're deemed to conspiracy theorists, it's remarkable. stuart: it is remarkable and really atrocious, and so many respects. joe concha thank you for being with us, we appreciate it and will see you soon. take a look at the race in nevada, joe biden leading president trump by somewhere in the region of 22000 votes. that is the total that he leads the president with, that is nevada. jonathan hunt is live in north las vegas. when will we get the final results, do you know? >> were about to get in the next 30 minutes or so the next numbers from the nevada
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secretary of state, many of those numbers coming from here in clark county which as you know is home to more than 70% of nevada's total population and registered voters, a 90% of the outstanding 190,000 votes are going to come from clark county in the biden campaign is very optimistic that given the heavily democratic nature of clark county their lead over president trump will increase significantly today. we shall wait and see, background to all of this is the ongoing lawsuit, there has been a lawsuit filed in federal cou court, it was announced yesterday by members of the trump campaign, it is actually being filed by and on behalf of of local republicans, some of that lawsuit contains what any
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nonpartisan lawyer was best described as lindsey evidence on signatures for instance there evidence is one voter, that voters complaint has been investigated by clark county and dismissed, their arguments on transparency on the basis of one allegedly credentialed member of the media not being allowed to go when and watch the count does not seemed like the argument any judge is going to take particular seriously but then there is perhaps the more substantial evidence in this is also contained in the letter the trump campaign has sent to the d.o.j., that involves 3062 names of people that the trump campaign says voted here in nevada but actually are no longer residents, there may be something there, the d.o.j.,
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because it is part of the process, is is to investigate and confirmed it will investigate those, part of the trump campaign legal team was on fox earlier today, here is what he said about those allegedly illegal votes. listen here. >> i think you're going to see this number grow, we cannot transparency in the process, if the people in clark county, the democrat to run the clark county if they want us to accept the results, they need to show us all the evidence that this is all on the up and up, right now were shut out. >> the flip side of that argument is that there are many reasons why people who are not at this point were at the point that they voted actually residents in nevada would have reason in the legal right to do that, the aclu says for instance that nevada voters do not lose eligibility even if they're out of the state for long period of time, nevada voters can attend
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out-of-state schools, they can be active duty military posted away from the state and they also say the aclu those who move within 30 days of an election have a right to vote in their new state or in their prior state, that of course would be nevada, how many of the 3062 votes cast that the trump campaign claims whereby out-of-state residents actually hold up as illegal votes into anybody's guess at this point, we should point out that the nevada secretary of state who by the way is a republican has pointedly said he has seen no evidence at this point of widespread fraud, and fact he seems very happy with the way the voting and counting process has been carried out so far. stuart: biden leads trump in nevada by 22000 votes, jonathan hunt, thanks for joining us. let's change direction, california, they made some
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interesting changes on election day, really interesting. i said at the time, californians have seen the light, maybe. steve hilton joins me next. ♪ businesses today are looking to tomorrow. adapting. innovating. setting the course. but new ways of working demand a new type of network. one that's more than just fast. you need flexibility- to work from anywhere.
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investment community is saying that this is the best case scenario for stock markets over the next four years which is the democrat in the white house, divided congress, check balances in place, you still have spending and lower corporate taxes and that's helping the likes of the big tech names especially with lesser breakup and overall we have come back from 200 points down on the dow and were about to break even and might be even getting into positive territory to in this week. stuart: good earnings report, possibly another stimulus thing coming, the fed is going to. like crazy. susan: the economy is coming back. stuart: you only nine points away from being positive on the dow and the s&p is now on the upside in the green. we have a bet going on, i think we agree we might end up higher on the day. susan: we agree, you have to agree with me. stuart: i think you're right. [laughter] here's a dramatic statement, i think there may be some light at the end of californians socialist tunnel. voters rejected the states restrictions on independent contractors and they rejected a proposed proposition what would
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have increased taxes on commercial property california rejected a tax increase. republicans won back some house seats, i cannot believe it, the man on the screen is steve hilton the host of "the next revolution", and my grasping at straws, is it possible that real change is coming to california? what do you think. >> i'm going to follow susan li, i think your agreeing with me because i said it first, i been saying it for most of this week because that was my reaction too, it's actually incredible, i would add one more, california voters rejected a proposition to abolish bail bonds, much to the anger of the progressive left groups that were pushing that, what i been saying for the last couple of days, perhaps we've gone past of peak lunacy in california were coming out on the other side, we've seen peak lunacy and now were coming out,
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the house races are really significant the fact that republicans did so well with really interesting candidates, it's a diverse group of candidates, korean americans, is a great, great signal but things are changing, et cetera for a long time, i think one day, not soon but one day california will be a red state, that is my view. stuart: california has to do something for business, it's a most antibusiness state, people and businesses are leaving in droves, that is what they've got to do something about, they've gotta become more accommodative towards business in their state, tuesday's election on the proposition could be the first sign of that, how long do we have to wait? >> the real truth about it, all the loony left the antibusiness policies and so one are really coming from the state legislature, that is where real
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change has to happen and eventually the government office as well, the state government that has been the real problem and there was not much change there, what you're seeing is voters waking up to the fact that all the things that they complain about rightly, the high cost of living, incredibly high property taxes, the nightmare you have to live three hours away from where you work because you cannot afford to live there, the homelessness, the higher taxes, higher poverty among the worst schools in america, all of this is because you've had one party rule for year after year after year, i think the realization that slowly is daunting and one day we will have real change at the state government level. stuart: i gotta get this in and i'll do it fast one of the host of the view said this about trump supporters. roll tape. >> i'm not going to say that 50% of americans are racist and sexist and homophobic but i will say that that tells me that they will look the other way to that kind of behavior and that i
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think is despicable, it's un-american. stuart: you know that was almost a deplorable sort of statement, what is your reaction. >> absolutely outraged by that, i will hit that hard on my show sunday night, it shows the left have learned absolutely nothing from their defeat in 2016, the fact that so many ways they were defeated this week as well, their ideas were defeated and made no progress in the senate, the house and someone, what they're doing there is showing that they just can't accept that there are people in this country with views of that are different to them, they want to impose their ideology, their way of thinking on everyone else and if you don't accept it, you are morally inferior, that's un-american. stuart: i'm going to watch on sunday night, 9:00 p.m. eastern, "the next revolution" because i really want to see you take that apart. steve hilton, good man and we will see him sunday night. there has been a shift in the political and voting counts
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♪ liberty. liberty. liberty. liberty. ♪ stuart: overnight, dramaticking news. pennsylvania flipped from a trump lead to a biden lead. we need an update on that lead, and we're going to get it from grady trimble who is in philadelphia. what's the news, grady? >> reporter: stuart, it's widening. joe biden leading by about 8800 votes, but something interesting happened in the last 15 minutes or so, the lead widened for biden and then dropped back down. we're not sure exactly what happened there. nonetheless, the big headline is that joe biden's lead is widening as those mail-in votes are still being counted here in philadelphia and elsewhere in the state. we also know that philadelphia city commissioners will be providing an update in just about 40 minutes or so. we tonight know exactly what that -- don't know exactly what that will bring us, but we will
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bring you the latest when we get it. we also know still as of an hour ago about 124,000 mail-in votes still need to be counted in the state of pennsylvania. that's about 4.75% of the total mail-in votes. i know these are very small numbers, but as we've learned, stuart, with this election every single vote, it is coming down to the wire in all of these swing statements including here in pennsylvania. stuart: yeah. 8800 is a very narrow margin when you've got, i think, 6 million cast in pennsylvania. thank you very much, indeed. now then, we'll check the big board. is have we turned into the green at this point? i think we have. we're pretty close. there you have it, we're down slightly, but the s&p's up, okay? mixed at this moment. >> flat. stuart: susan says flat. [laughter] all right. more "varney" after this. ♪ ♪ knew you were waiting, knew you were waiting for me ♪
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he started believing things that weren't true. i knew something was wrong... but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine... proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia-related psychosis and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the most common side effects are swelling of the arms and legs and confusion. we spoke up and it made all the difference. ask your parkinson's specialist about nuplazid.
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the leadership in the vote flipped overnight. it went from mr. trump being up to mr. biden being up. those two states in particular are georgia where now biden has a lead of 1500, and more to the point, pennsylvania, where biden has a lead of 8,800. in virtually all of the top hotly-contested, key battleground states, biden now leads. only in north carolina does president trump lead, and that's by 76,000. so there's the state of play in the election at this moment. the stock market paying very little attention to the presidential election. the market paying much more attention to a good, strong jobs report, strong earnings reports, the likelihood of the federal reserve printing money forever, and it's the end of a very, very good week without any profit taking visible at this point. so as we're about to leave you, we've got the dow down a mere
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30, the nasdaq's down 23, the s&p's down a fraction, and susan li, comfortably predicts -- [laughter] by the end of the day -- >> i think so. stuart: -- she thinks so -- >> and on a friday too, very important to know. stuart: it is very important. it has been a fantastic week. it's over fur us, susan -- for us, susan. neil, it's yours. neil: thank you very much. it's reversing all the losses of last week when we surrendered ability 1800 points on the dow. a lot of this might have been gleaned from the side comment that nancy pelosi made that, if you weren't paying attention -- and it was a tad incoherent -- but you might have missed a reference to a lame duck session move in congress to get a stimulus and that she hopes to hear from the present administration on that. so that renewed hopes, i know we've been here before, that we could be seeing stimulus or something cobbled together in that lame duck session that wouldn't have to wait until a new administration, if it turns out to be that, in the
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