maria: thank you to dig in mcdowell, varney begins right now. stuart: down 600 monday, backup 200 early tuesday so it is over? wasn't just a dip? too soon to tell, got to watch the market moment to moment. as of right now futures showing a gain for the dow, 200 points, s&p 20, nasdaq up 70. the nasdaq was down 200%.

not much of a bounce. cryptos, bitcoin down a bit more, 43,000, minor losses for ethereum. interest rates, the 10 year treasury yields one.31%. the big question is if the chinese government bails out evergraham, a real estate developer that started the global panic, interest rate do thursday with a 30 day window to pay up, this could drag on a while. the chairman sent a letter to employees saying the company would, quote, walk out of its darkest moment very soon. next case an hour from now president biden addresses world leader at the un in new york city, having upset many of our friends and allies he may try to change the subject, avoid

foreign-policy and pivot to climate. here at home he's pivoting to massive borrowing and spending, he wants to raise the debt ceiling so democrats can spend trillions. that is his best hope of winning voters, give them free stuff. johnson & johnson, it's shot increases protection to 91% if you take a booster shot. the vaccine wars taking a new turn now that pfizer announces success with 5 to 11-year-olds, a question many schools already require vaccination for other conditions, why not for covid? that debate has started. the mayor of san francisco explains her maskless likely performance. she got carried away, she says. that's okay, you are democrat. tuesday september 21st, last day of summer, "varney and company" is about to begin.

♪♪ do you remember ♪♪ stuart: a pleasant sunny kind of music. let's check futures to see if that is valid. i call it a modest bounce. all eyes on stocks. what is happening? as you can see i am calling it a bounce but it is not strong. come on in, bill the rukh, you are the market commentator. can we just relax? >> yesterday was the wipeout the market needed, 5%. we really needed that. it laid the groundwork, with the fed meeting it is in focus, but with the fed meeting you've got what was supposed to be more hawkish take due to wage

growth and all the job openings that work to create massive job growth in september but the fed told us they want to be behind the curve, you have an certainty with china's evergraham and delta uncertainty, the royal bank of australia commented on the different situation but the official bankers are worried about delta. there is no reason for the federal reserve to take that hawkish tone whether they lay the groundwork for tapering. i expect the dovish tone, and yesterday's rebound in the last 30 minutes, massive volume in futures in the final 30 minutes. stuart: that is just a dip.

>> look to the july playbook and overnight weakness from sunday night, the markets fall off and strongly -- stuart: you are telling clients, going to new highs. >> 46-20, earnings great. stuart: people were calling nerves, thank you. president biden will release his first address in an hour. you might have a hostile audience. what do you think? >> more than he would have bargained for. you will hear a lot about climate change, popular topic with other world leaders but at the same time the president has to address the situation in

afghanistan which will be the main reason for that hostility. closing the chapter, opening a new chapter of what a senior administration officials survived as intensive diplomacy. realizing issues that don't require military action and this would be one of those. the vaccine, is the was willing to share is the question today. rules of the road on trade and economics and when the president talks about the issues, we are told president biden will say he's not interested in another cold war. each nation allowed four people including a speaker, china's president xi jinping is not

here this week, he will speak later today but do so virtually. the president met in new york city with the un secretary-general, the two of them spoke about working together to end the pandemic and combating climate change but it was gutierrez who had warned the us and china need to repair what he described as a completely dysfunctional relationship and avoid a cold war. that's where the reference comes from. president biden will face a more skeptical audience especially after the way things were handled in afghanistan and world leaders want to hear about other topics as well. stuart: michael walsh, republican congressman from florida, you're a veteran, and has it changed fundamentally?

>> >> this debacle, our allies and i are terrified and ukraine are terrified. dictatorships and adversaries around the world are pointing to this as an american to be terrorist around the world, democracy is lost, america will not stand with you, america will abandon you. that are start working with us rather than them. it's devastating on top of human rights and the fact that americans are still there and we are less safe because we have a terrorist superstate emerging, but how many wills outside and intelligence is clear, al qaeda intends to attack but you hear a lot of apologies, there is no big

deal, end of the chapter and would be fine. stuart: what happens if he changes the subject to climate, i believe that is what he is going to do. will that work? >> you have a huge climate summit coming up in glascow in november so i think you will see an announcement to this $100 billion fund, a relaxation on covid restrictions. and and the monstrosity on voting against, the will bankrupt the company. he wants to get this over with as quickly as possible and get back to that socialist agenda. >> >> if he gets infrastructures,

does that by him votes in 2022, does that put them on the right track politically for next year? >> if he can get there. they want all of it. they want free everything. free community college, free daycare, free pre-k, and they are holding out for their socialist progressive home run. at the end of the day, waking up to the weakness in the white house, and if adversaries are taking advantage of and printing presses are red-hot in washington, and one more thing. tell un secretary he doesn't want to see a cold war, he

wants to send that message to president xi who is openly talking about replacing the american dream with the china dream, and bashing the heads of anyone who challenges the chinese communist party against the great wall of china. that needs to be directed there and not here in new york. stuart: thank you for being on our show, it is much appreciated. good week for earnings. i thought we finished earnings season. i we about to begin the next when? a lot of good stuff on deck. fedex, costco - >> we heard from the retailer autozone fills up 4%, stock is up, used car sales are up, chip shortage is dealing the new models. labor costs, they are expected to add 50,000 workers, 6% on

average starting in january. stuart: pricing power to do it. stuart: every time i order something. >> this is a ♪♪. go to the store to buy it and still order it. on my phone. and think of all the logistical challenges to get my little knickknacks. watch for how the companies are passing on higher prices to consumers. nike is a big one, vietnam factory closures impact their sales. qvc. >> back in the old days they cannot resist buying like, feeling like you on the phone. giving up calendar for the week do not forget that the fed meets today and there will be a news conference tomorrow afternoon.

check futures, a small bounce after yesterday's loss. the mayor of san francisco caught partying, role tape. >> don't need the fund police to micromanage and tell us what we should or shouldn't be doing. what we need to do to protect ourselves. stuart: just like the rest of it. who wants a mask in a nightclub when you are dancing up a storm. unfortunately she broke her own rules. can schools require kids to get the vaccine? many require other jabs for things like appetite is be, tetanus, so why not covid? i will ask doctor marty macario after this. ♪♪

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stuart: sheryl crow, that is jacksonville beach, florida, 76 degrees. it will probably rain. that is what it does in florida in september. a modest bounce back after yesterday's big losses. maybe 60 for the nasdaq. is could head back to school, the american academy of pediatrics reporting a surge in covid cases. how many cases reported last week. >> 28,978 cases in children last week. it is a huge number. as a parent that never scares me.

it coincides with back-to-school. some district like new york city and miami cutting the quarantine time a student is exposed, cutting down that time which is good news for some families who want kids to be in school that makes others nervous. until since covid, 5 million kids diagnosed, 548 deaths. that number is low but as we look at the delta variant and going back to school these numbers were up, will kids get vaccinated around halloween? stuart: parents get nervous was let's bring in doctor marty macario. many youngsters, most kids have to be vaccinated to go to school, vaccinated against all kinds of conditions was why not insist on vaccination against covid? >> we haven't had good data on the vaccine in certain groups like young boys for example, there is data out of the university of california, the

rate of myocarditis after the second dose occurs at a rate of four to six times higher than hospitalizations for covid itself and that is a flag. to me that would cause me to advise a parent considering the vaccine and young boy to say hold off with one dose for now and if the kid had covid wait until more data plays out. stuart: what if the youngsters denied access to school? >> that is an american tragedy. vaccination requires two doses, and to blow that off. they stem from senior health leadership ruining many lives, people are disenrolled from school. stuart: take the vaccine and that is where you're coming from. >> pediatricians, and folks and

parents, i recommend one dose, covid for now. stuart: johnson & johnson today saying there booster shot, 94% effective when you get it two month after your first dose. there is a split opinion on booster shots. what is your opinion? >> any vaccine if you give the same vaccine again you boost your immunity. if you remember j&j was lagging behind the other vaccines ineffectiveness. they got stronger immunity and what many of us have said for a long time, the narrow 3 to 4 weeks interval is too short. people should space out the second dose regarding three months and if you get one dose and planning to do that, that's what i did, get better

long-term protection and may not need a booster. stuart: seems to me we are looking at jabs forever. is that how it is shaping up? >> some people may hope for that, shareholders would love if you get a vaccine booster every monday morning at work but there's a magic number when you get good cellular immunity, i think it will be that dose of 3 to 6 months that gives you durable long-lasting immunity. stuart: thank you for your clarity. always good stuff. next, mandating vaccinations for all teachers, all school personnel, you got to get the jam. >> no jab no job. all teachers, all staff at private and public childcare centers must be fully vaccinated by november 1st, no testing option.

the union says they are working with certain teachers. i can't imagine it really is going to be 100% of people have to be vaccinated with no loophole, but they are going further. because of their age, they must do so if they want to play sports. and they describe this, consistent message to parents and everybody else in the area that is how we will keep things safe. everybody has to be vaccinated. stuart: fair enough you might have to look at fewer teachers, fewer student athletes, you got to factor that in. lauren: see how it plays out in november. stuart: you are not supposed to say that. lauren: in this case it is true. stuart: markets, modest bounce, it is a modest bounce. we take you to wall street for

"the opening bell" after this. ♪♪ working my way back to you ♪♪ and happiness ♪♪

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stuart: it is a bounce that i will call it a modest bounce when you rebound just 160 before "the opening bell" i will call that a modest bounce. let's bring in luke lord. it is a modest bounce. we can't relax yet. >> cool, calm and collected always wins with the market. that's how you have to be every single day even as the market drops every day like we saw - stuart: was it just a dip and we can all bring -- breathe easy? >> every dip is just a dip, the market typically recovers. stuart: i don't have a 10 year time horizon. >> days like yesterday, a

portfolio raise some capital, holding up better than others and take out the shopping list. stuart: do you tell your clients to do? >> we always look for opportunities, apple, amazon, microsoft holding up the stock market, small caps as well, that's where we are looking for value. that is when you see the market. stuart: what would really bother me if during today's trading we slip into the red and don't recover at the closing bell. the last 20 seconds to you. >> yesterday we saw the market get heavy, down 2.5% and recovered to one.5%, that means a lot of people are buying the

dip and 40% in the last year and a half, in the last 10 minutes. stuart: it was not. that is all good stuff. the us again soon. and the bell is ringing, let's see how this modest readout transpires throughout the day, i will be really worried if we slip into the minus column if we keep going down, that will be not a mere dip but a selloff and a half. we are up 160. got that, that is merely half of one%, the majority of the dow 30 are in the green, the s&p 500 also on the upside, half of one% higher. show me the nasdaq, down 2%, a

bit more, now is up half of one%. modest down to nearly going, big tech down yesterday, they are all at this morning but have not regained the lost ground at any point. microsoft is well below $300 a share. i will start with energy stocks, the price of oil came down yesterday, modest rebound again today, up 2%. financials. >> conoco phillips is up, royal dutch shell's assets, $9 billion cash deal leading oil majors today. stuart: a giant underground lake in texas. show me uber please. they are up this morning. nice gain, 7%.

lauren: they are profitable on an adjusted basis month ahead of schedule and they said they would be profitable. first profit for the company in 10 decades so this is a milestone, they are already in the springtime, stock is down 22% and still trading below the ipo price in 2019 of $45. stuart: the wait time is pretty long and the price is going up. >> the traffic took me two times the amount to get in. alive and well. stuart: this is your story. let me explain. apple is working on a new iphone feature about detecting depression and more to the

point cognitive decline. tell me - tell me how a phone can report my cognitive decline or otherwise. >> they are teaming up with ucla and biogen and will track sensitive data like facial extensions, mobility, sleep patterns and that might signal mental health or cognitive issues. apple hoping to develop these algorithms to detect these conditions. you don't think that is possible if you miss type or not sleeping as well that could project health concerns. stuart: i shouldn't laugh at this. i'm not laughing at it. it is a serious thing. i just don't feel like my brain being ruled by this thing. >> i track my health patterns and other stuff on my phone and

with the out go rhythm. it is a data-driven world and health is going to be the major contributor that apple contribute to society. stuart: is this going to boost. >> watches, phones. health is a big addressable market. stuart: i am 73, you're telling me? get out of here. you're going to tell me about google? they just bought something big in new york city. >> google news fencing $1 billion on this freight terminal called st. john, 3 million square feet, google signed a deal to buy it which they will exercise in first 1:45,022, spending big in new york city, $2 billion for the chelsea market, not just google

but amazon, apple, facebook, everyone taking advantage of pricing for more square footage. stuart: they got it cheap, all that space in new york city is very good stuff. casinos, look at them come back, china is up 7%. >> the casino sector had the lowest since january of 2016, there is a lot to recover. the consultation kicked off with gaining licenses and but for complications to the public. the public wanted a lot to do, casinos should retain their presence. stuart: they are not out of the woods by any means. when i said there's a 7% gain from mgn china holdings it is a $0.75, it goes up $0.05 therefore is a 7% penny stock.

cryptos, bitcoin is moving lower, 42-9, what is going on? >> a 10% selloff we saw yesterday. stuart: a bit like stocks, modest bounce. >> are you willing to call today? a short-lived, it might offend feline cat owners, something like that but some people expected rebound today because of the major league selloff in defiance of bargains out there. stuart: move on to robin hood. i'm uncomfortable with dead cat bounce but let's do robin hood. >> robin hood can store, send or even earn interest on crypto holdings, people buying dogecoin, and i said to note robin hood might be facing

stiff competition. did you hear about european foreign exchange apply for a license for trading, paypal allowing that. or trading stocks. >> on paypal. everybody is doing it. we have been open nearly 7 minutes. i will call it a modest bounce, down 180. looking at down winners headed by american express, disney is up, home depot, the s&p 500 winners bearing in mind the s&p is up a modest bounce for that indicator. >> mgm resort. >> rough stores, biogen, it is a medication, this net of mine. it is a modest bounce for the

market after yesterday's 600 point drop, that is where we are at the moment. i humanitarian crisis on the border, you might expect president biden to take questions from - >> questions - >> 45 times last week. i point you to that. stuart: putting up a wall to protect the president. flights to europe are the cheapest. that could be about to change. democrats pass and infrastructure bill and entitlement program, that is a political winner for president biden. larry kudlow disagrees with me. we will argue it out after this.

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stuart: i will say again that is a modest bounce for the market after yesterday's big selloff. we are 200 points. the 10 year treasury yield this morning as one.30% going down a bit. the price of gold way way below $1,800 an ounce. oil hits 71, 72 yesterday, not much of a game but natural gas dropped below $5, down 2%, has recently been on a surge. we will discuss the implications of that shortly. average price for gallon of gas steady at $3.19 and california

is $4.39 for regular, texas to cheapest in the nation $2.80 for regular. congress returns, facing major decisions on biden's huge infrastructure and spending plan. lauren is here and i think there is a civil war among the democrats how much to spend. >> democratic inviting, progressive versus moderate said republicans want to stand unified, no civil war against bigger spending and debt ceiling to pay for that spending. monday the 20 seventh is the deadline to vote on the hard bipartisan infrastructure bill but progressives are saying it's not going to pass if you don't tie it to the bigger social spending bill. it is a possibility that both bills get stuck in congress, this gets delayed and maybe they fall under their own

weight. how do you get the progressives and the republicans to cooperate? stuart: i think you get something in the middle. there would be a real war. larry kudlow is with us, great timing for this particular guest. we were arguing about this last night. if they pass infrastructure bill, just one entitlement i think that is a political winner for president biden in 2022. i know you disagree with me on this so tell me why free money, free stuff is not a political winner. >> what is this one entitlement? stuart: think of it, the most

popular is pre-k. give them free pre-k and infrastructure package that is a political winner. >> let me say as a matter of reality, kill the bill, all the bills, if i had to choose, the infrastructure bill which is a very flawed bill and should have put money into finish the wall on the southern border as we see with another catastrophe, that infrastructure bill doesn't have massive tax increases across the board that would do damage to the economy and the middle class workforce and doesn't have all these new entitlements, cradle-to-grave welfare state, don't bother to work because the government will do the work and give you

the income that would give great damage to the soul and the fabric of this country. it would be a catastrophe in the lead editorial on this in the wall street journal is very good, paid family leave, that's just one of many things. i'm not sure what you are talking about. manchin is right, we should pause the big bill, the reconciliation bill until next year and if we pause it until next year we composite it forever because republicans will sweep the midterm elections. that is the key point and as laura was discussing the democratic party actually is not in good shape on this bill. all of a sudden it looks like there's going to be a lot of democratic votes against it. stuart: i hope you are right because we don't want and can't

afford all of these huge programs. i'm saying the way out of the president's current political difficulties are to spend money on free stuff. you know what happens during live tv, the producer says that's enough, your time is up, say goodbye to larry and tell everybody you can watch them at 4:00 this afternoon. >> say goodbye, larry. see us, sits next to me. >> save america, kill the bill, kill all the bills, prosperity, i yearn for the trump prosperity. stuart: i don't care what they say, i think you are all right, see you again soon. a story we have been covering is a real importance here, natural gas prices surging, down a bit today but they have been surging, that is highly inflationary as winter

approaches, scott shelladdy is next, maybe you should order your gifts to make sure you get them because there are shortages of just about everything. advice for holiday shopping right after this. ♪♪ here i am ♪♪ signed sealed delivered ♪♪ you're driving innovation. you're racing to the cloud. you need to do it securely.

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stuart: 300 points a bit better of the rebound. fedex is up half a percentage point. they are raising prices. >> january 3rd prices go up 5.9%. $7 billion to build their capacity. the pressure once again falls on merchants. if you observe shipping items to the customers. stuart: there raising prices 5%. marshall cohen joins us, this guy follows the shopping business, you follow shopping.

here i am, september 21st and i'm buying my christmas presents now because i expect there's going to be shortages and backlogs all the way to the holidays? am i doing the right thing? >> if you want to get the specific brand shop early, there will be limited, and shopping very late, something consumers proved during the covid lifestyle they shop here and now. stuart: tell me of amazon will get 50% of the shopping markets. there are 40% in recent years. half of the retail business. >> of the covid delta variant remains, they could likely get to that level but if we can

cover the varied with consumers back in stores, 28% of consumers telling us they feel comfortable shopping in the store environment, only 11% are worried, that number hasn't changed much. that is what we have to watch. stuart: tell me retailers you think will do particularly well this christmas and the holiday season? >> the moment that is going on, people like target and walmart, target did an amazing job, carry that momentum, check the customer base, full range of consumers want to shop, 1-stop shop, i would say target, walmart, warehouse clubs like costco, very well positioned with a lot of momentum going into holiday and the ones that have done well of late were the apparel retailers, they were doing will because apparel entering into the game now that we are going back to work and

socializing more, wardrobes need a lot of update, a lot of people need an update. stuart: include mine. the biggest loser in shopping? >> my biggest concern, department stores. they are not yet hitting, and rises to the top but it is a tough market. the department store business right now. stuart: that was sharp and much to the point. we hope you can do it again for us at some point. here is what we have still ahead. brian kilmeade, rhonda mcdaniel, mike huckabee and california congressman young kim. then sent:00 hour of varney next. ♪♪

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♪. stuart: who is this in owe. owe. now i know. lauren: been a while. stuart: good morning, everyone. 10:00 eastern. straight to your money. i'm still going to call it a modest bounce, down 600 points on the dow yesterday. after half hour's business we're recouping 200 points. that is not recovering all the

downside. financials were hard hit yesterday. they are bouncing back today. that is modest bounce of the energy stocks, oil companies. they were down yesterday. again a very modest bounce tomorrow. big tech, way down yesterday. i will call that a modest bounce this morning. microsoft is up two bucks. we've got, alphabet up three, et cetera, et cetera. that is not a huge bounce back after yesterday's losses. the 10-year treasury yield, well, what we got is a 1.31% interest rate on the 10-year treasury. that is pretty low historically. there is this, any moment now president biden will begin his address on the world stage. it is his first united nations speech as president. he is expected to talk about covid and climate change. we're going to monitor that speech and bring you any headlines out of it. and now this. when first elected foreign

governments loved joe biden. after all he was not donald trump. less than a year later, many of those governments have done a 180. the french are mad as hell about losing a 60 billion-dollar submarine contract. europeans are upset over the afghan debacle which they were forced to be a part of. china flexing its muscle. asia gets nervous. we look weak. russia is laughing. how do you turn all that around? you change the subject, you pivot to climate change. biden can make promises about emissions cuts way into the future, future promises. he can point to action already taken like stopping the keystone pipeline. he can throw your money around the world, promising to help less developed countries, make promises for the future, and and out your money. that is how you change the subject. that may smooth things over with the climate warriors, but this is a harsh post-afghanistan

world. military power counts. immigration dan destablize governments and so can covid. that is realpolitiks. that is what makes or breaks alliances and friendships t will take more than future climate promises to reassure our allies. second hour of "varney" just getting started. ♪. stuart: here's a subject we've covered extensively, natural gas prices have surged to record levels worldwide. at the moment we're down 2.8%. prior to this we were at seven year highs. there are experts in england warning that the brits, because of the surge in natural gas prices they could have winter blackouts. that is in britain, not necessarily here. scott shellady joins us on this. to me this is a huge inflation indicator and nat-gas is very worrying to me.

how about you? >> it should be, stuart. to your point you talked about going back to the days staffing nation with jimmy carter. i'm sure you remember this back in england in the 1970s, when they went to the three-day work week because they didn't have enough energy. they're not called blackouts anymore. they're called greenouts. we tried to force everybody off of nat gas or coal side of thing, we're pushing everybody away from fossil fuels to other things like renewable like wind and solar but they're just not ready to handle it yet. they're forcing the issue, stuart. what happens when you force things? what happens when you restrict the fossil fuels in an effort you think you're pushing people over to renewables but that is not how, you need to take a class in psychology, that is not how the world works. when you restrict something, it doesn't change behavior. it just changes the price. it just goes up. we're not moving over to anything. that is exactly happening all

over in europe is deeper than we are. if what happens in europe rolls this way. germany is in trouble. they're forcing the issue restricting the fossil fuels in the hopes it changes behavior. it doesn't. it changes price. stuart: did you ever trade, i know you're a commodities trader you have been and did you ever trade nat-gas, and if you did, are you expecting it to go above five bucks or even six bucks? >> i have people with me that trade it. i didn't personally trade it. i did more of the crude oil but i will tell you there is a nickname nat-gas has in the trading world among trading desks the widowmaker. because it is doing what it is doing now. it can about higher a lot higher. not sustainable at high prices. high prices get rid of high prices. i would say this, if we continue down this path of getting rid of

fossil fuels in the hope you change behavior it will definitely go higher. so folks out there can understand what i mean by that, you have got a tree farm. if all of sudden the greenies didn't like you chopping on the trees to sell for wood or for your house, right, my house is made lumber, i will burn down my house in the hopes of building one out of iron and glass but i don't have the new house built yet but i don't have iron and glass yet. that is what we're doing with our energy policy. we're building down the house to build a new house we haven't started. that is it in a nutshell. that is how you can understand it. stuart: bottom line the weather this winter may dictate our inflation rate, i think that is entirely possible. >> you brought up another great point. we're trying to change behavior to remove to renewables 100% affected by weather. how do you light a room if you don't have any sunlight with the solar panels? what if there is no wind for the windmills? that is the problem.

we're not there yet. stop forcing the issue. let it happen naturally. stuart: great story, we're staying on it. thanks for all your help, scott. see you soon. just as important in the financial world the federal reserve, they start their meeting today. there will be a news conference tomorrow afternoon. that could really move the markets. lauren has been following this. i think, my opinion, that with all this financial mess going on in the background from china, i don't think they want to rock the boat with the federal reserve. lauren: steady as she goes. powell's mission is twofold, don't rock the boat, decouple the taper from the interest rate liftoff. what that means is, the fed in my opinion overly communicated. it is going to start to pull back the taper of $120 billion in treasurys and mortgage securities. it will pull that back slowly starting this year. do they announce that tomorrow afternoon or do they punt until november or december? that is different, decoupled

from raising interest rates. no hike is expected until the end of next year. deutsche bank sees three hikes in 2023. so the interest rates are coming but no time soon. stuart: don't rock the boat right now. lauren: yeah. stuart: got it, talks very much, lauren. now this, secretary mayorkas toured the del rio area where over 14,000 migrants in makeshift camp under the bridge. he still insises the border is closed. watch this. >> we have reiterated our borders are not open and people should not make the dangerous journey. >> mr. secretary you stated repeatedly the challenge but last month you were recorded privately saying that what has been happening along the border is unsustainable and meaning there is a crisis, so i'm asking would you admit right now, admit privately what -- >> i will stop you right there. let me just say very clearly, we are focused on meeting the challenge. stuart: let's bring in

congressman august pflueger, congressman from the great state of texas. congressman, we know there is a problem there, we know the democrats are in charge what can the republican party do about this? >> stuart, enough is enough. secretary mayorkas said the border is closed. i was there under the bridge on saturday. what i saw was a tragedy. this is illegal immigration on demand. most of those haitians have been in south america for several years. they got word that the border is open in del rio was open. the crime, assault, under the bridge, squalor, human tragedy, people giving birth. the administration has done nothing. we are trying to force every option. the governor of texas is doing his best to stop it. enough is enough. stuart: i understand, i think a senior official in texas on fox yesterday said, we want to hire those border guards. we're going to hire the federal

border guards at the border. we'll put them to work. we'll make this work. heard anything about that? >> well not specifically about that but, let me just paint a picture for you. we have a port of entry in dell row yo texas that is closed. $35 million of economic activity around trade flowing between mexico and texas every single day. 100 yards down we have a flee free flowing immigration problem. we need those guards. we need a solution. texas had to spend $2 billion. who will repay the state of texas for that money to, send dps troopers, national guard troops to stop this crisis when biden is doing nothing. stuart: got it, gayle king pressed jen psaki around the growing crises surrounding president biden. watch this please. >> we're still getting hammered for how the withdrawal from afghanistan happened.

everybody knows, many people believe it was timing, just the way it was done, so we all agree that is not a good look. you look what is happening with immigration. france now saying they have been betrayed by the united states. so i get that we have to look forward but what are we doing to justify or explain what appears to be very bad behavior on our part now? >> we don't see it that way. stuart: right. we don't see it that way, but congressman, the media seems to be turning on this president, what say you? >> crisis after crisis. whether afghanistan or del rio. they have a democrat mayor. i spent the day with him on saturday. he is absolutely disgusted the way the administration handled it. his community is feeling abandonment just like every other community along the border has. so many veterans feel abandoned with the afghan debacle which it is. thankfully we see reporting on this. for the crisis at the border, too little, too late. we need to stop it, the drugs,

criminal activity, that the trafficking stop. it is reaching every corner of america right now. stuart: it is. congressman pflueger, thanks for joining us sir. always appreciate it. >> thank you. stuart: change the subject because we have report that draftkings, online sports betting people made an offer to take over the uk based online betting company, whichever one that is. lauren, what do we know about it. lauren: entertain shares in london are all-time high with draftkings shares down 6%. they want to buy the british bookie $20 billion. stuart: $20 billion. lauren: i love your reaction. british have expertise they have been gambling longer than the u.s. back in january, entain said no from a 11 billion-dollar bid from mgm. now another company, draftkings coming in almost double, will they say yes? stuart: that is interesting.

you make a good point n britain you've been able to bet on anything anywhere, anytime for a long time. you can bet on the weather tomorrow. that is coming here. you can see it coming a mile off. lauren: caesar took william hill. there are a lot of american companies going after the british expertise. we'll see. stuart: gambling expertise, is that all they have to export? dearie me. i have to move on. the mayor of san francisco caught dancing at knight club, no mack, breaking her own city's mask mandate. now she is defending it. we'll play the clip. celebrities blew up covid protocol at the emmys, now the los angeles health department is coming to their defense. we're not making this up, i promise you. president biden surrounded by crises. he keeps on dodging questions from reporters. watch this again. >> [reporters shouting questions] >> mr. president, what will you do with emannuel macron. >> mr. president when will you

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booked to appear on "the view" later this week. on top of that jen psaki says don't expect the president to hold any news conferences anytime soon. watch this please. >> when will the president hold a news conference where we can ask him bull at issues. about inflation and. >> the president took questions four or five times last week. i would point you to that we need joe concha, a media watcher, we got him. he is sitting next to me in the studio. good stuff. joe concha, "the view," friendly territory, do you think they will press hard on vice president harris, get some answers? >> wow, rhetorical tuesday, isn't it? stuart: yes. >> there is a reason why the vice president, you know what she is polling at, "usa today poll," 35% approval. well below the president, not too much below because she has authenticity problem. we saw this during the campaign. they called her a 2020

presidential candidate. she didn't get to 2020. she didn't get to iowa. she dropped out polling so low even in her own state. now she has this thing called a record she has to defend as vice president. she was put in charge of the border months ago, stuart, right? what is the result? crossings only continue higher and higher 208,000 in august. 1.5 million this year. we're told by the white house press secretary, she is addressing the root causes. show me in any tangible form how she addressed the root cause, what effect is it having, that the effect you're seeing on the screen. it is not a criessis, a catastrophe, humanitarian catastrophe at this point. stuart: what you're saying we'll not get serious questions asked either of the president because his handlers protect him, certainly not of vice president harris on the view, rhetorical again. you're not expecting any answer, are you? >> for the white house press secretary well the president answered questions last week. i'm pretty sure some things happened on friday that may have changed the equation in terms of what questions i would ask which

is how were seven children killed in the drone strike? 10 civilians overall. you said it was isis-k leader, right? why did france pull its ambassador from here? because you did a submarine deal with australia instead of france. why did you say the booster shots were coming got ahead of your own fda when urn the president said listen to doctors, follow the science. that happened within a span within an hour on friday. jen psaki said we answered questions on wednesday. i refer you to that. it is a joke. stuart: mayor of san francisco, london breed, she is doing damage control because she was caught on video breaking her own indoor mask mandate rule. >> i got up and started dancing because i was feeling the spirit and i wasn't thinking about a mask. i was thinking about having a good time. stuart: yeah, come on, joe. she is feeling the spirit, she is having a good time. when will you come down on the poor lady? >> maybe my kid in school right

now are in kindergarten, second grade, can they pull off their mask to feel the spirit when they hear katie perry come on? when you feel the spirit the mask thing goes away. london breed is following lead of nancy pelosi and other california politicians, went to hair salons that were shut down in their own city. gavin newsom, went to the french laundry, pre-vaccine with 12 other people not wearing mask. or following the lead of president obama, through obamapalooza, no one wearing masks, no one social distancing. this is how it goes. it is not rules for thee not for me. it is rules for thee. going to be rice crispies of pop shows. snap, crackle and pop. >> that was good one you preparing that line all morning.

>> in the mirror in the green room. i pulled it off. we'll do it again soon. stuart: this one soon, los angeles health department defending maskless celebrities at the emmys. what are they defending. lauren: rules for dee, not for me. they were test the right before and they're treated as performers, three reasons, the quote from the l.a. health department, exceptions are made for film, television, music productions as additional safety modifications are made for the controlled interactions. for were the afterparties controlled? stuart: nitpicking you two this morning. give these people a break. >> they're a smart and sophisticated crowd. covid knows the difference. when it is about to attack, wait a minute this person may be little too cerebral for my taste. i'm out of here. stuart: they're democrats, concha you know it. the bounce for the dow is a mere 100 points. that is check for the markets.

down 600 yesterday. only 94. watch out folks if this thing heads south, all bets are off. look at amazon. they will now reconsider employees who were fired and applicants who were passed over because of failed marijuana tests, not helping or hurting the stock. it is virtually unchanged. there is this, a crisis at the border. what can republicans actually do about it? ronna mcdaniel will join me, i will ask her what are you going to do about this? it is a pricing war for homes. what does one investor hope to do about it? cash. we'll slain in a moment. -- explain in a moment

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ago. maybe midtown is coming back to a little bit of life. 78 degrees in midtown later on today. look at the market. a little worrying. down 600 yesterday back up only 100 as of right now. if this bounce fails, if it doesn't go anywhere, watch out below. that is just my personal advise. susan is back with us. what about the airlines? susan: i agree with you if we don't bounce back and down today, is specially ahead of the fed announcement. watch the airlines. a few minutes ago we just blew down on a volume spike. on reports that the justice department is preparing to sue and challenging their partnership with american airlines which allows them to boost their offerings in the northeast. that means they have way too much control, especially in the three new york airports. that is what the justice department might be suing over. let's show you disney. getting a buy called from dawa,

initiating coverage at $225. stuart: that would be nice gain if they get it. another 40 bucks,. lauren: disney plus, reopening play with the theme parks. stuart: as you know i'm interested in private equity, specifically blackstone the largest private equity in the world. susan: why i chose it. stuart: what do you have to say about it? lauren: look at recovery, you must like that. stuart: looking on my phone right now. susan: some of these were hard hit yesterday, recovering today. meme stocks, i showed you robinhood. look at the new meme stock favorites, smile direct club, clover health, amc and gamestop, smile direct club was up a lot this morning when the market opened. in these volatile markets things change in a hurry. stuart: we bounced on the dow. we're up 140. that is still not a great bounce

after a 600 point loss. susan, thank you. now this, reports say beijing unlikely to bail out evergrande which is the company that rattled the u.s. market and the global markets yesterday. ed yardeni is with us. this is not then another lehman moment, right? >> i don't think so. i think it is actually more reminiscent of long-term capital management in 1998. lehman led to a worsening of the recession and worsening of a bear market in stocks. the ltcm was a basically a correction providing a buying opportunity. i think the government is going quietly step in, not withstanding what they're saying in china and i think they are going to restructure the company. they can't just let it go under because the chaos is not something that is consistent with their tremendous need for stability. stuart: that would really tamp down on the problem if beijing came in, gave some support for

that real estate developer and some of the others as well. do you think this, would you be prepared to say the crisis is over? >> the crisis has been discounted pretty well in the stock market. i think there could be a few more days where the headlines suggest that still a chaotic situation but there is also news reports that the government's reached out to the provincial government to do something about the problem so it's going to be handled. i think at this point the market has doubled since march 23rd of last year. that's pretty good. i think it is in for consolidation. it doesn't have to go up. it doesn't have to go down. it could go sideways for a while. that would be the healthiest development. that's what i think. stuart: susan was discussing about today's market, you have to watch it moment, to moment, to moment. both of us say if it heads south, adds to yesterday's losses that would be a very bad

sign. that would be mean more than just reaction to china. it would mean the beginnings of something much bigger. what do you say on that? >> i say the fundamentals of earnings continue to improve. i watch forward earnings and series on expectations. analysts give a lot of information on their companies and on a weekly basis this forward earnings number keeps making new highs. i would say the fundamentals for companies are great, their margins are great. so i would stay invested in the market. stuart: okay. i think i asked this question to you every single time you ever appear. aren't you anxious? aren't your clients wringing their hands like i am? i'm sure they are. >> my job is to try to stay calm to look at things objectively and i don't, i don't think you want to look at the market day by day. it will kind of be nerve-wracking when you do it that way. look at the longer term trend of the market t goes up 6 to 7% per

year. like i said it doubled since march 23rd. i guarranty you it will not do that again in the next 12 to 18 months. i still have 5000 on the s&p next year. stuart: 5000. ed, don't ever say follow the market day by day, are you trying to kill my ratings, ed? you. >> sorry about that. stuart: i need an explainer on this one. this is home-buying startup. the name of this company is ribbon, okay? they can help buyers win bidding wars. this is real estate we're talking about. ashley webster in florida, come on in please. let's see if i have this right, the company offers a full cash bid, sells the home to the person who wanted the house in the first place. can you explain that one? ashley: yes indeed i can, stu. you know this, cash is king. in fact more than a third of the offers today on homes are all cash. if you don't have all cash,

you're already at a disadvantage. that is why it is creating a new business opportunity. the company as you say is called ribbon. look at qualifications. what do you have to do to get in the program. let me show you the list. you have to be preapproved by a lender. they will lend money on single family homes, condos, anywhere from $150,000 to $700,000. as you work to continue to get the financing, you can rent the home back to ribbon for up to six months. you find the house you really, really want but you only have a mortgage to get financed where you're going up against people who have cash. what it does, it gives you the advantage, and sellers love all cash. let me bring in jenna nunez with bella realty. good morning to you. you use ribbon. it gives you cash. that must be a huge advantage when you find the home of your dreams. >> yes, let me tell you what, for anybody who is a first-time homebuyer, who saved up 20,

$30,000 for that down payment and closing costs, having ribbon as a cash back offer, you know levels the playing field. so you can get your financing but be able to compete with those cash buyers. ashley: how competitive is the market? is it still as crazy as it has been with bidding wars? >> you know, i think it has kind of leveled out a little bit but just last week we had a single-family home with 20 offers on it. so you're still, you still got a lot of competition out there. ashley: jenna, thank you. i know what you will ask, stuart varney. what happens if the financing falls through. you lose the deposit which you have to provide. that goes to ribbon and who will simply sell the house. having the cashing is like having a rich uncle or aunt behind you buying the home. interesting story. stuart: the cash doesn't hurt, especially with 1/3 of homebuyers paying cash. that is extraordinary.

thanks, ashley. banks are considering climate risk for buying homes. this is fascinating stuff. how does a bank calculate climate risk, lauren? lauren: that is dangerous. they study the weather. the bank, lender, or both determine the value for your home based at how risk you are of climate change. critics say targets communities to events no one can control. in the worst-case scenario there is part of this called blue lining. basically a bank draw as blue line around the area where you live. that area that is bad. really subject to climate change and flooding, et cetera. your house might have no value. no bank will lend against it. your american dream, your life savings is worth nothing? stuart: that's ridiculous. lauren: based on climate change. banks determining policies that can kill your net worth, based on weather. not up for that. lauren: here we are. stuart: leave that alone. thousands of migrants are still camped under that bridge in texas. authorities are now reportedly

tracking a group of 20,000 haitians about to head to our border. sounds like the caravans all over again. we have details on this one. flights abroad, cheap right now. that might not last. we got a report on that too. we'll be back. ♪

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stuart: flights from the united states to europe are the cheapest they have been in years, however, the window to find those low fares may be closing a little. tell me more but why? why non-stop as low as $565 round-trip. come november when the u.s. lets in foreign nationals from 33 countries who show proof of

vaccination and a negative test we can expect demand to spike and with that prices, however, no airline has yet to say they're increasing the number of flights that they're flying because of these loosened restrictions. stuart: i think you're right. i think prices will go up. 500 round-trip direct flight. lauren: great for new york city. the tourist dollars come back. stuart: want to show you this, the u.s. is set to ease travel restrictions for vaccinated international travelers. we have grady trimble at o'hare airport in chicago. spell it out please, what are the new rules what do they mean for tourists? >> so this means that anyone traveling internationally into the united states, stuart, as lauren mentioned, will have to be vaccinated. they will also have to follow strict testing and contact tracing protocols, no matter where they're coming from outside of the united states and, we should say that this is welcome news to those 33 countries that had been banned from entering the united states,

for the past 18 months for many of them. the move i about the biden administration was met with phrase from european leaders and more broadly the travel industry, but, for travelers outside of those 33 countries, including many where vaccines are harder to come by the rules apply to them as well, making entry to the u.s. more complicated for them come early november. the biden administration is also facing criticism for extending restrictions on non-essential travel at the canadian border until october 21st, congresswoman elise stefanik said long past the administration to do its jobs. that tourism can resume and small businesses no longer have to suffer from this administration's failure. stuart we should also mention that unvaccinated americans flying back to the u.s. will be subject to stricter testing requirements when they return to the united states.

stuart: got it. you spell i had out. grady, thanks very much indeed. now i've got a picture, there is a picture, got this? that is the president of brazil eating a pizza on a new york city sidewalk. he is the president of brazil on a sidewalk eating pizza. why is the president of brazil on a sidewalk eating pizza in new york? lauren: third one from the left. because he is not vaccinated. you have to be vaccinated to eat new york city pizza or any food or drink. stuart: they wouldn't make an exception for the president of brazil. lauren: no they made an exception for him to come to the u.n. general assembly. he has to follow the rules. he doesn't seem too much. de blasio sent out a link to the new york city vaccination site. tongue tongue-in-cheek. if you want to eat inside, get a shot. stuart: i want to leave it alone i can't. because the president of brazil,

bolsonaro is aligned with trump, make an example of him. dearie me. this is hostess at a new york city restaurant being attacked after being asked for proof of vaccination that happened. that is in new york that actually happened. that is what happens when you have a vaccine mandate. then we have those migrants still camped out under the bridge in texas. shouldn't they be tested for covid? according to jen psaki, there is no need because she says, they're only here temporarily. brian kilmeade talks about that next. the dow is up now only 50 points bill, mary? hey... it's our former broker carl. carl, say hi to nina, our schwab financial consultant. hm... i know how difficult these calls can be. not with schwab. nina made it easier to set up our financial plan. we can check in on it anytime. it changes when our goals change.

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stuart: you have you have admit to a little high anxiety on wall street. we lost the early morning, we are now down five points. we were down 900 points at one stage. closed down 600. we are now down 10. look at the nasdaq. it was down 2.3% yesterday. it is back up only 0.2% today. the bounce has gone. let's see where we go from here. check out the cryptos as well,

please. same story, they were down yesterday, kind of in sympathy with stocks. there was a minor leagues bounce early this morning. now they have lost that. we're on the downside again. bitcoin is back to 42,000. ethereum has dropped below $3,000 per coin. the message from the markets this morning is, the bounceback at this point has failed to come through. it is now 10:51 eastern time. you know what that means. that means brian kilmeade joins us. all right, brian, straight at it, more than 20,000 haitians are in colombia. they may soon try to reach the united states. white house press secretary jen saki says migrants don't need the jab because they're only here temporarily. brian, what a mess. >> what a mess. what i'm most heartened by they can't escape this one. thanks to our great drone team and resiliency, getting the helicopter in the air when they got grounded. boats to be able to see it. they cannot escape it. americans are horrified by it.

nothing against anyone from chile or bolivia or brazil but the haitians, by the way, i was fascinated to find out they got the go sign somehow through social media if you come to our border you will get in. i don't know, that might be the actually first accurate information we got from facebook since the early '80s, when it got created after myspace, because that is exactly the case. and does anyone think that illegal immigrants stay here for a short time? isn't that why we have daca, their parents came, they stayed, had kids, declared roots, this is their country. the kids say they belong they came here at such a young age. nobody believes it. no one buys it. everyone is horrified by it. 16,000 under a bridge. that would be bad, stuart. think about that. that is a small window. we just had tom homan on "fox & friends" today and he said he saw the schematic about where the security is. there is 240 miles just breezeway, no border patrol

agents, no fence, no electronics, 240 miles in a pandemic, when you have title 42 and you had remain in mexico. but the mexicans have a different view on this. they said to themselves, he just mocked us for saying we violated international law by doing a deal with trump. he never even called to say we need marines on the southern border. i won't put them there. he never ones tried to talk to us about the surge at our border, our northern border, on our southern border, forget it. so we have no cooperation with our southern most neighbor. another ally alienated just like we did with france and just like we just dissed the uk. they were telling people today, yesterday, that the u.s. is not going to allow any visitors yet, vaccinated unvaccinated for a while. they said really? they announced it a couple hours ago, we're allowing vaccinated. i didn't know. boris johnson will come meet today. do you think somebody can pick

up the phone, text somebody, let people know what is coming down the pike? there are allies. we're not asking them to call the taliban. stuart: this administration is incompetent in the worst possible way and we're all going to pay the price for it. brian, i will change the subject for a second. bring it back to new york city just for a moment. show you a video. we see it already. this is tourists assaulting a restaurant hostess in new york city. why? because the hostess asked the tourist for proof of vaccination. that is whatps when you have a mandate in the city. owner of bobby van steakhouses, he told me jed yesterday on this program, he lost $1.8 million worth of business because the city's mandate. seems to me the mandate is doing more harm than good. >> mr. come together. let's get a vaccine mandate, the restaurants who were tortured it would be a great idea to empty

them out during the pandemic. lost their staff. sorry, boss i'm earning more not working than working. it makes it impossible to make a profit. they're book indoors, saying show me proof of vaccination. if they don't have it, in comes the new governor who seems to be more oppressive than the old one who wants to put toddlers, 2 and 3-year-olds in mask at preschool. now they will start checking up, asking random people, maybe the varney table of four, you guys all have vaccination cards? oh, you don't? you shouldn't be here. and the owner is now fined. and when the hostess or host, that is carmine's by the way, a great place. multiple outlets. a legendary place. now they're being protested by black lives matter, if it was discrimination to ask for vaccination card. it was our idiot mayor's policy. he implements it.

keep people like president of brazil eating a sandwich because the president of brazil is a threat to other restaurant customers? this is just, it is an embraer askerring time to be in new york. stuart: yes it is. not a good place to come back too, either. brian, thanks very much indeed. good stuff. >> thanks, stuart. stuart: big show still ahead. look at this. mike huckabee, rnc chair ronna mcdaniel, california congressman, young kim. democrats want to suspend the debt ceiling to avoid a government shutdown. i will ask her if she supports that. the president is down in the polls across the board. how does he get his vibe back? i tell you, he gives away free stuff. that is what he is going to do. that is a part of "my take" which is next. ♪ at fisher investments, our clients know we have their backs. (other money manager) how do your clients know that? (naj) because as a fiduciary, it's our responsibility to

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>> save america, kill the bill. that infrastructure bill doesn't have massive increases across the board, it would be a catastrophe. the democratic party is not in shape on this bill. >> it lays the groundwork for moves higher. >> cool, calm and connected always wins.

look at your portfolio, raise some capital that is holding it better than others and take out your shopping list and go on a shopping spree. >> shop early, consumers telling us they are comfortable shopping in this store. stuart: it is 11:00 eastern time. this is the last day of summer. the last day of fall is tomorrow. down 600 yesterday, modest bounce at "the opening bell," we turned south across the board, the dow is down 37, the s&p down eight and the nasdaq down 10 points. they were down 2.3%, down

another 10 points today. the 10 year treasury yield is down to one.30%. lots of red all over the place. now. president biden is in trouble surrounded by crises at home and abroad, needs to stabilize his administration and rally public opinion because there are elections coming. if he can't get his buyback democrats might lose their control of congress. watch the debate about borrowing and spending because the democrats want unlimited borrowing and massive spending, that, they believe, is the key to voting, it is called vote by in with your money. there is nothing new in this except this time around the scale is like nothing you've ever seen before. picture this. somehow or other they push through maybe just one entitlement program like paris

k. polls show that is popular. if they get that one thing across the finish line biden and the democrats can say look what we did for you. childcare relief for millions, those nasty republicans just want to take away what you are entitled to and they will say we made the rich pay their fair share. you get something and somebody else pays. that is exactly what is being debated right now. massive borrowing, massive spending. we failed on afghanistan, the border, inflation, covid, ability to do your job, what do you do to win at the polls? you give them free stuff. president biden's best hope of buying the next election. the third hour of varney roles on. mike huckabee joins me.

join the argument. free stuff is politically popular and will help the president next year in the elections. my colleague larry kudlow disagrees. where are you on this? >> i love free stuff. i may become a liberal democrat, just sit around and receive all these great benefits my grandchildren will have to pay for but i will be gone by the time they start to pay so why should i care? here is the fact. if i want to give something that helps and out of my own resources, that is charity. if i reach into your pocket and give your resources to take credit for it, that is theft. what we having congress right now is nothing but legalized theft, what more americans would understand, this idea of fair share, what is the fair share? they can't define it and usually when someone is asked

that they give one that is a fraction of what the fair share of the democrats want out of another person's paycheck. stuart: but it is politically popular. isn't it? they could win on this, retain control of congress by giving away in a free stuff if they can get to the point of giving away. >> republicans have to do a better job explaining how free stuff works. it is a lot like having president biden sit in front of the kidnapper van with an ice cream cone and say come into my van, we will have a nice little time and i will give you a free ice cream but what he is about to do in that van is not going to be so pretty. we need to remind people there is no such thing as free anything, the government doesn't have resources on its own, the money the government has is the money it takes involuntarily from the people

who have gone out and earned it and if we don't make that clear and put it in simple terms, it can be powerful for the democrats. i hope america hasn't completely lost its mind. >> trying to pivot from foreign-policy to climate change. >> this has brought widespread death and devastation from the borderless climate crisis. extreme weather events in every part of the world. represent what the secretary-general rightly called code red free humanity. stuart: that seems to be a pivot changing the subject is something they can agree on and make future promises. does that work to climate?

>> i don't think so. most americans understand it was a few years ago we were told we were entering a phase of global cooling and were going to be human popsicles by 1980, then the ozone layer was depleted and we were going to be torched and now it is global warming, now it is climate change so it is always something new and devastating and is going to happen around the corner. we are always adapting. for people who believe in of illusion and survival of the fittest they don't seem to really believe it because they don't believe in adaptation. i note one thing in the un speech, a lot of people in the audience have taken their mask and moved them up all the way over their eyes during biden's be. they were having a wonderful nap at his expense. stuart: i missed it. you are all right.

thanks for joining us. don't know how to describe this. opened in the green, we went into the red. we need to talk to mike murphy. by the dip, by the. was this a dip 600 points down, is that it? >> not just a dip, we haven't seen, 10% correction. this is just the market going through normal gyrations but it goes through and blame it on china or valuation but a pullback in the market is an

opportunity for investors to invest. it will always happen but the market is going to make new highs before the end of the year. stuart: don't know how to answer that. we are a little concerned there are so many negatives, it is not over by any means, federal reserve, tapering, so many negatives ganging up on the market but you keep going. by the dip, do well, i give you credit, you have been absolutely right. you would all be better off. >> might see a 5% correction or 10% or more than that but for me to come on and talk to investors at home and say pull out of the markets, there are

red flags out there, i will be back one of these days in the future to tell you to get back in and gains already. the timing has not worked and is not going to work. for that reason we talk about it a lot. the market has a lot of pull back, it has never not come back from its highs. this is no different. we may get more of a correction but if we do we will rebound from that. look at corporate earnings from companies today and tomorrow and thursday we will hear from fedex and that's what we want to keep an eye on. don't make the mistake of selling and being on the sidelines when we cross 40,000 on the dow. stuart: are you expecting strong profits this earnings season? >> i expect strong but covid

has an issue, global supply chain has been an issue so there will be some companies that miss but for the most part big tech lent the market for the past several years, they are not going to miss, they will continue to move, microsoft above 300. people want to simplify things if you can and look at where the growth is, stick with what has been working because it is going to continue to work. stuart: a professional and holder and very good at it. jackie, welcome to the show. what is with uber? >> uber is being attacked because the country homes in honest guidance. bear with me on the numbers, gross bookings saying $22.8 billion to $23.2 billion but adjusted ebit the to a profit. stuart: that is the first time

-- we have not used - in five years and you got the buzzer. what is that about? >> it is their earnings before interest, depreciation, amortization and it is positive rather than negative. we turn this into a good thing. an opportunity for the company the last 18 months and moving forward. that is what investors want to see. stuart: the thing is up 9%. >> need to bring mike back. stuart: let's talk google. they just bought something big. >> they bought a building in manhattan, for $2.1 billion, that's a huge investment. they extended their get back to work to january but they are going to bring people back? that is what people want to see. it is the st. john's terminal building. stuart: what is this about mcdonald's happy meal getting a climate makeover. >> climate is all the rage.

have you ever taken your kids to a happy meal with the toys, plastic, how many of those plastic toys do we find in landfills? probably a lot. they want to make the toys sustainable by 2025 in the first you will see of these toys will be january. stuart: that is something i can get behind. i don't like those little plastic things. >> i will crawl on myself from the buzzer. stuart: no more buzzing for you. the ntsb, national traffic safety board, in thb, national traffic highway safety board or something like that, they are pumping the brakes on tesla's will self driving mode. why they are calling it a misleading and irresponsible thing. a message for migrants. >> if you come to the united states illegally you will be returned. your journey will not succeed. stuart: are reportedly 20,000

haitian migrants, another caravan likely. where is borders are kamala harris, she's getting rainy for the view. rhonda mcdaniel has into to say about that next. before nexium 24hr, anna could only imagine a comfortable night's sleep without frequent heartburn waking her up. now, that dream... . ...is her reality. nexium 24hr stops acid before it starts, for all-day, all-night protection. can you imagine 24 hours without heartburn? [slow electronic notes fade in]

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>> what is the reticence to call something that is so clearly a crisis, a crisis. >> i call it a heartbreaking situation.

a tremendous challenge but i want to be clear that we do have a plan to address it. we expect to see dramatic change in the next 40 to 96 hours. stuart: that was cnn. alejandra mayorkas is the border patrol has moved 4000 migrants to processing centers. in a report says 20,000 asian migrants gathering in colombia, have been heading to the united states. homeland security reportedly tracking thousands more migrants in panama and peru. rhonda mcdaniel joins me now. this is a full-blown humanitarian crisis on the border. we find vice president harris is going to be interviewed on the view this friday. in all seriousness, what can republicans realistically do about this crisis.

>> i have to say i am sure she is hosting saturday night live soon. he has no interest in addressing the real issue as our first ever female vice president. wouldn't it be nice if she were tackling a crisis at our southern border, these kids are being trafficked, but go ahead, do love you, do saturday night live, ba hollywood celebrity and hurt women in this role. stuart: it is a crisis obviously. what the republicans do? >> you've seen governor abbott deployed his national guard, this is a federal government issue, the democrat party turned on a magnet, the borders are open and we have a huge

catastrophe they won't acknowledge, the best thing we can do is elect republicans in these midterms. stuart: a new poll shows 31% of i this approve of president biden's performance,

stuart: most republicans i talked to are confident they can take back the house at least next year. you share that confidence. >> i do. historical trends, usually 26 seats in the midterm, we need five to take back the majority, the candidates we are recruiting are phenomenal. i won't take anything for granted. we will do what we can't win back those seats, we need one

seat to take back the majority and as we are seeing, our vice president refuses to go for the border, we need checks and balances in the government in washington dc. stuart: we will see you soon, thanks. stuart: we've got a little green. when you bear in mind we were down 600 on the dow yesterday and 2% on the nasdaq that is not much of a rebound tuesday morning. next a new study shows the danger of tesla's autopilot feature. >> it shows when you engage the autopilot people become disengaged with what is happening in the vehicle. it is not autonomous yet. it is driver assist, when the driver is doing its thing, the

driver gets distracted, they found a lot of crashes as a result, something the company is working on and in the testing phase. stuart: this is referring not to the fully autonomous car where you sit in the passenger seat or the backseat if that is what you want. >> and you have some responsibility, that the next step before we get completely autonomous. stuart: i how you would correct for that, change the software to pay more attention. >> it is part of the problem. it needs to be all or nothing. stuart: good story, thank you very much. tesla stock is up one.5%. the republicans and democrats are hitting for major league clash over the debt ceiling. democrats want to borrow trillions and trillions of dollars.

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♪♪ why don't you just meet me in the middle ♪♪ i'm losing my mind just a little ♪♪ stuart: i not try to dance to this music. i'm looking at sixth avenue. there is evidence of a little pickup in activity. haven't seen that for some time. it is looking a little better. 72 degrees. check those markets. we have a little green. when i say little green, after a huge selloff that's not much of a bounce. you are watching streamers. >> the ceo said hbo max is on track to have 122,150 million subscribers by 2025.

we had 67 million global subscribers of hbo max. stuart: that assumes the audience likes its content. >> in 13 months. that is indicative, demand out there and the enemies are dominating with netflix winning its first best a medic series anatomy. this old batterymaker signed a deal with another top 10 global supplier and also a sizable stake. stuart: car batteries. >> a different technology for solid-state batteries which needs to be proven. stuart: i'm interested in a asking story, this $20 billion offer. >> for uk-based according to reports, and apple stock, we

are back in the green, chinese buyers are rushing to order the cheaper iphone 13, they are sold online, it has gone viral on social media and it has already been sold out. >> i was intrigued by the $20 billion bid. and it is expanding so rapidly. see you could bet on anything. >> and - >> and most of them are down again. and in the wake of a report that the chinese property developer, the second largest

in china could be forced into bankruptcy. not sure about that but china stocks are down. greg smith says the dramatic statement, never buy chinese stocks again. that your statement, make your case. >> my father, elliott, watching this morning. at the closing bell yesterday, investors have the same question. why did the market go down yesterday. at the fed meeting others pointed at the government shutdown. a simple answer i don't think you will like. when i began my career on wall street 30 years ago, working under ace greenberg at bear stearns and the market crash of 1987, a simple answer was there were more sellers today than buyers, stocks are volatile.

with that being said china is coming to the forefront. a lot of activity out of china and wilson diminish witnessing a cataclysmic seachange in what is happening as we enter a new phase in which we see china clamping down on capitalism and entrepreneurship. we are seeing a lot of pain, not just big companies like ali baba, and us investors have to give careful thought how this might impact us companies who have great exposure to the chinese consumer. i'm talking iconic names like nike, starbucks and apple with chinese consumers buying their products so if china continues on this path which i think they will, the chinese companies that even us companies. stuart: something to watch out for. that's not going away. watch out for that. i want to talk about archer. the electric plane taxi guys.

you invested in them. they had a bad day last friday and a bad day yesterday. how come they are not doing well. >> with great leadership and fully funded, had a great fundamental investment base. this is a moonshot investments. i have ownership in the company, never allocated to this name. they yield outsized returns in the next several years. we will be witnessing electric aircraft taking to the skies, in the next several years. dime the day-to-day change. stuart: is a moonshot in your in it. >> and i minute and they produce the return if this works well. stuart: thanks very much.

i'm going to talk about snoop dogg lucy has revealed he's the person behind the mysterious crypto-based twitter account, you want to ask lane this? >> there's a lot of discussion, he spent a lot of money in investing in nft. he's behind it and gives a sense of how popular these nfts our and people believe and a lot of them. a lot ofther celebrity doing it too. it is a new product coming to the market. buyer beware. stuart: it is a market. what it represents, the value, i don't get it. okay. another one for you. softbank investing in nft startup it has to do with soccer. >> a block chain soccer game,

something people can play and what it works, the players by the licensed cars and trade them on this league. softbank, $680 million here. so they think there is something there. we better get on board. stuart: $680 million. >> when we look at that, valuation is $4.3 billion. stuart: okay. my head is shaking. california gas station charges $6.74 a gallon for regular gasoline. >> not a political person. >> the current president is spending money as we used to

say when i was in the military like a drunken sailor. stuart: that is one gas station in california, $6.74. we are told gas prices across the nation could go up some more. jeff flock has the report from philadelphia after this. dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this!

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and their families. are we still exclusive? absolutely. and that's exactly why you should join. stuart: that is capitol hill. the average cost of a gallon of gas in the united states is $3.19. though country average is $3.19. in california the average is $4.19 a gallon and there is one

station you may have seen previously on the show charging $6.74, californians are slamming president biden for this spike in prices. watch this. >> $6.75. and get out of here. >> i will tell you that right now. i'm not a political person but kind of messed things up. >> he is spending money as we used to say when i was in the military like a drunken sailor. stuart: that is just one station in california. that gentleman is jeff flock in philadelphia looking at rising gas prices, no idea how we were going to answer. how do you think president biden's policies are to blame for rising gas prices? >> you know how to do it. 50 years of experience.

i'm not a political person either but i will say this, the focus on green energy and electrification of vehicles has taken the focus off of oil, not only exploration and oil refining. back behind me, the philadelphia energy solutions refinery. and 300 you 5 barrels a day. and and there is not a refinery built in the us, that the president biden's fault but the policies but the pushed would electrification. for any financing for a new

refinery, cost a lot of money, people don't want refineries in their backyard. refining capacity at its lowest level since 2015. if you look at the rising cost of gasoline, lack of refining capacity which already was short before the pandemic and before the shutdowns, it is only getting worse. when something is scarce, hard to get, the price goes up. how is that for a nonpolitical answer? stuart: forget the politics, forget biden, democrats, republicans whatever. when you reduce refining capacity has dramatically as we have, as it is picking up, you get a price increase. politics aside, that was a brilliant sidestep. i don't know how you do it. see you again later.

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we balance 150, in the red for a while, we are in the green. the mayor of san francisco speaking out after the covid masking rules and we will show the excuse after this. ♪♪ that building you're trying to buy, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you see it. you want it. you ten-x it. it's that fast.

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stuart: the statue of liberty. we like to show you that as often as possible. we like liberty on this program. we are playing arianna grande a because she's a universal music artist. the company went public on the amsterdam stock exchange. jackie is back with us. universal sees their future in digital listening. >> think about tick-tock, all

the other social media platforms, connected cars. these things need a service to get the music into them. this is a 40 billion euro deal and it popped up today, you are seeing good traction in july. system must be an area of the future, a must own asset. digital is. stuart: it is a whole new world and i really ought to be part of it. democrats, this is serious stuff. democrats unveil their debt ceiling bill that would keep the government funded through december 3rd. maybe a vote in it on the house later today. congressman kim from

california, there are a few republicans in california. this congresswoman is a republican from california. president biden says it would be inexcusable not to raise the debt ceiling so are you a yes or a no vote bearing in mind that a no vote could shutdown the government? what do you say? >> discussing the debt limits that will be on the floor for a discussion, speaker pelosi and democrats move forward with that reconciliation package, that is more spending in one year than total spending in world war ii. we cannot afford to give bernie sanders a blank check and allow him to saddle future generations with debt by raising the debt limits by 2022. it is clear it isn't going to

pass the senate. we need responsible continuing resolution to keep the government running. stuart: it is all about avoiding political blame for shutting down the government, isn't it? >> the same partisan exercise right now. stuart: the democrats could, if they wished, simply raise the debt ceiling this afternoon, get everybody, all the senators to vote for it and pass and have a higher debt ceiling but they won't do it because they want to bring in new republicans to share the blame for taking on more debt. that is what is going on here too. >> they think this has to be a burden shared by both parties. we are not going to allow that to happen because again we are spending more than at any time we've seen in world war ii. we are not going to play their game. the exercise they are playing

right now is the fact that they are in disarray, they don't have the votes. i play into their game. stuart: the mayor of san francisco defending her violation of her own indoor mask rules. here's her defense. listen please. >> i got up and started dancing because i was feeling the spirit and i wasn't thinking about a mask. i was thinking about having a good time. stuart: she felt the spirit, congresswoman. she felt the spirit, just had to dance. your response. >> another case of an elected official thinking they are too good for a mandate they created themselves. small businesses are going to great lengths to adopt mandates to keep employees on payroll. the state of california which i represent california small businesses hit hardest by the

pandemic with 40,000 businesses closing, half of them permanent closures. covid 19 policies should be based on science, not politics. stuart: 40,000 closed small businesses in california. forgive me for pressing this. closed permanently or just closed permanently? >> 20,000 visited close permanently during the pandemic. stuart: that is extraordinary. thank you for sharing that with us. that is a real eye-opener. thanks for being here. much appreciated. you know what time it is? 11:55 eastern? that means trivia. how many hair follicles does the average person have at birth? that is an important caveat? the answer after this. it's another day. and anything could happen.

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stuart: this is a pretty good trivia question, it is as follows, how many hair follicles does the average person have at birth. what did you guess, jackie? >> i guessed two million. i always get them wrong. stuart: i guessed two million. the real answer. we said two million. it's five million. how about that? >> wow. stuart: 100,000 of these follicles are on your head and you're born with all your hair follicles. you don't develop new ones as you age. my question, as you lose your hair, do you also lose the follicle? we don't have an answer to that. >> i will guess no on that one.

stuart: we have to check the markets. look, you have to follow the market moment to moment today because we're trying to rebound from yesterday's big loss. that's a very important story because if we don't rebound, if we go down by the end of the day, that could spell real trouble. but at the moment we're up 145 on the dow jones industrial average. nasdaq is up almost 100. neil, it's yours. neil: stuart, thank you. thank that colleague sitting next to you there, jackie for filling in for me yesterday. thank you, jackie. we have a reversal of fortune today in the market, folks, but as stuart said it would really be a problem if all of sudden these gains evaporate and we add to credit's selling. we're not there yet. keep in mind we had been up over 300 points that is in the futures markets so there is a little bit of concern some of that is getting back. you can read into that any which way you want. still waiting word out of china specifically whether it is going to come to the