what they are working for a, a lot going on, watching the development and the testimony over alejandro mayorkas. markets are rallying, stuart varney, take it away. stuart: you gave it to me 5 seconds early. the details to follow, will powell support the stock market. the haitians at the border flying some out, letting others in 2 stay. the market is rallying, trying to rally again, dow industrials, in the greens this

morning, the s&p down big monday, down slightly, solid premarket gain today and the same story on the nasdaq, down this week but solid early gain in the going. no idea how the market closes this afternoon. in china, ever graham paid some interest and china central bank put extra cash into the banking system. investors are hoping the federal reserve will be nice to wall street when chairman powell hold a news conference this afternoon. 2:30 eastern, watch it here. politics, the house past the debt ceiling or raise the debt ceiling, it will keep the government open. republicans are having none of it. the bill will likely fail in the senate and the government shutdown will be back on the table. the border situation goes from bad to worse. ice agents assaulted as they tried to fly haitians to haiti.

stopping haitians at the border defies, vice president harris will open up to questions when she appears on the view on friday. wednesday september 20 second 2021. the first day of fall. "varney and company" is about to begin. ♪♪ go on take the money and run ♪♪ stuart: go on, take the money and run, if you absolutely insist. we were talking the first day of fall. lauren loves fall because there's no bugs and low humidity but a worst month for that stock market.

won't take my money and run. stuart: first things first. the china's ever grand, i said at the top of the show the china put a lid on it at least for now. what is the latest? lauren: one payment was made, $36 million, private negotiation, little detail. we don't know how much interest would be paper when. a bigger one, $85 million tomorrow. we are not out of the woods, some fears are quelled, low risk of contagion and city came out and said we have no direct exposure to ever grand plus how many other property developers in china face the same fate and what does china do about it? about the stuart: alone running program and a temporary halt on the contagion. let's get to fed chairman powell who holds a news

conference this afternoon. any idea what he will say? can you put in plain english what he's likely to say? lauren: he will repeat what he said in july, quote, inflation has risen reflecting transitory factors and he will add i'm watching the events in china. this is contributing to the gyrations we've seen in the stock market. it is an excuse for him to do nothing. he has more cover because of the china story, disappointing jobs number we got for august. i intend to taper, he will say that, but no timeline for when they begin the taper. stuart: that was a very good explanation. straightforward, plain english, that is pretty good. look who is here now. shah gilani. do you think the federal

reserve will continue to support the stock market as they have been doing for some time? >> i agree with everything lauren said. they don't have a dual mandate. they have three mandates. the third mandate is to do no harm, supporting them when there's a dip. based on monday's a lot of there will be a little bit nervous about any communication that comes out of the meeting this afternoon. i don't think they will talk about tapering other than suggesting visited in november. i don't think they will do anything again. they have the cover of everyone in china. they will do no harm and will be consistently positive for capital markets forever. stuart: is the situation contains? has china put a lid on it? >> absolutely not. it is the front burner worry for me in terms of contagion. we don't know whatever payment was made on the onshore bond that had interests coming due. the offshore bond which is a 5 year note, $85 million in

interest due tomorrow, no word on whether they will make that payment. additionally, another $100 million in interest payments by the end of the year. in 2022 they have $7.5 billion in debt coming do that needs to be restructured and there is no way they can possibly restructure that. stuart: the beginning is anxious all over again. you are the king of dip buying. did you by monday and tuesday's dip? if you did, what did you buy? >> rio tinto to buy it and didn't get a chance to. again, if there is any fallout a lot of stocks, might buy the dip list might come to me but i didn't get anything i was looking for because the market rally late in the day on monday and yesterday continued to hold. i don't know today is an opportunity but i have a list of stocks on the dip. stuart: is the dip over?

>> i don't think so. there will be tremendous volatility and market end up flat. number one front and center is china and the debt ceiling woes, potential taper, a lot of things that are on investors minds and that will create enough of the head went to stall the market here. >> this is the new shah gilani, we are not used to this. we are used to buy that dip, by the gas going higher, this time i am a little cautious. >> on the 5% i will be buying, 10% i will be buying, 50% loading up the trucks. don't know if it will get down that low but i don't think i will get enough opportunity to buy stuff. we will be flat and volatile and it will be a nonevent for

the rest of the year. stuart: you can come back again to hold our hands through the anxiety thing, see you again soon. got to look at this. a chaotic scene at the white house, the president was meeting with written's prime minister boris johnson. johnson asked if he could take some questions from the british press and then this happened. role tape. >> a couple questions, just a couple. >> thank you. thank you. >> what is your response? stuart: is in that extraordinary. they won't let him answer a question in a free-flowing situation. they gentleman answers all questions, jason chaffetz, why won't the president's. let him asking her questions?

>> he is a week communicator. he never takes questions. families won't let him ask questions. for the white house staff to take a head of state, boris johnson, and cut him off midsentence was an embarrassment. president biden take 0 questions. president biden campaign that we are going to return to normal. i don't care what you think of donald trump, he should have been winning a war for his openness and transparency because he would have sat all day and answered - stuart: it undermines his leadership. you can't think on your feet and into legitimate questions from the median he does undermine the concept of leadership. >> one of your greatest ally sitting by your side, the president of the united states oriented three questions. stuart: i democrats beginning to turn on president biden because of his handling of patients at the border. are they turning?

>> they are turning because the american people are seeing it as they heard from president biden and kamala harris that everything is fine down there, nothing going wrong. day after day we see pictures getting more horrific, communities are seeing the impact, homeland security importing these people into the heartland, members of congress particularly on the democratic side of the aisle i feeling pressure from their constituents, they are fed up with it. kamala harris is nowhere to be seen and it is a human tragedy that is totally avoidable. stuart: vice president kamala harris will be on the view friday. but you can't wait for that. >> there are hard-hitting questions. stuart: that is the friendliest audience on the planet, friendliest group of questions anyway. you are all right, thanks for joining us. trying to keep a smile on your

face when politics is falling to pieces but plenty of green this morning. we often started on the upside and ended on the downside but we are looking at 200 point gain for the dow. some members of the tick-tock generation turning to one member of congress for investment advice. >> nancy pelosi, the stock market's biggest whale. >> nancy pelosi is psychic and she can guess when a stock will pump. stuart: not sure what that is about or where it is going but we have the story for you. new evidence that covid can spread even among the vaccinated. that's not much incentive to get the jab. doctor mark siegel is here next. ♪♪

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stuart: in tennessee it is 71 degrees, first day of fall the kathleen berg will get colder from here on out. a rally on wall street, it is 24 up for the s&p, 50 for the nasdaq, show me pfizer and biotech. the administration buying 500 more doses of their vaccine, to lower and lower middle income countries, done in by us to 1 billion.

and and what are we supposed to do instead? >> donate them. wealthy nations continue to donate vaccines with low vaccination rates reiterating their colin a moratorium against boosters through the end of the year with 14% of the population. you have the fda, the advisory panel to the fda, in high risk situations. >> donate to somebody else. >> the cdc, can still spread among the vaccinated. not much incentive to get vaccinated.

that is not very good, is it. >> there are breakthrough infections, the delta variant, there is more of it around, more particles. even if you are vaccinated you can carry it for a briefer time and you can spread it and get mildly ill but that's not the same thing as going in the hospital with this, not the same as wildly spreading it or being a superspreader. the vaccine has an enormous advantage, the vaccine stands down almost to 0 your chances of being hospitalized, but remains to be seen is how long it lasts and before i came on, you don't need to give away all of our shots in lieu of boosters. we can do both. we've shown that, we can help the rest of the world.

to manufacture vaccines overseas, that is the key. we can send vaccines out and one reason that helps us is we don't end up with more variants emerging. we have to vaccinate the world but we have to look at where the vaccine start to wear off and went to give the boosters. stuart: i want to move on to another subject we have been trying, iphone features that help detect cognitive decline. you are a doctor. what do you think of that? >> artificial intelligence, this verges on it, is a useful tool, but not for self-diagnosis. a useful tool for doctors to be aware of, as long as it is beamed over to me. and when it comes to depression let me make this easy for you.

the whole country is depressed because of the pandemic and the economic impact, don't need an apple to tell you that, ultimately. stuart: self-diagnosis is the bane of your existence. anyone who feel sick, put your symptoms in and up to different ideas what to do about it and you are the doctor in the middle, you hate it. >> i don't hate it but sort through it. everybody is an expert. i've been studying pandemics would everybody think they know what the virus is or coming down the pike, whether they need a mask, they are not asking anyone and that is a dangerous situation. >> is there another variant on the way.

>> the delta variant is efficient at spreading. as long as it is this contagious for another variant to outcompete it has to be more transmissible and that is hard to believe, has to do with how easily it spreads. this is so easily, it has the market, start with a mixed metaphor, has the market for a while. stuart: your position is vaccinated. that is where you are coming from? >> business has a right, if a businesses get vaccinated so we feel safe, there is on the level, should not becoming from the federal government. >> thanks for joining us. on a related note, fda approved drug for gout could help in the fight against covid.

>> it is a treatment, we talk about vaccines, this is treatment, pro benefit, oral and used before exposure and after exposure, scientists can reduce infection of all respiratory diseases, the only fda approved treatment is render severe. stuart: last thing we want is an early discussion of gout with horrific implications. check futures please. dow up 200, s&p up 24, nasdaq up 52. always have to tell you it may open on the upside, no idea how it closes. we will be back. ♪♪ i'm about to lose control and i think i like it ♪♪ i'm so excited ♪♪ and i just can't hide it ♪♪ ♪♪ i know i know i know i know ♪♪

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as i observe investors balance risk and reward, i see one element securing portfolios, time after time. gold. your strategic advantage. stuart: the market opens in 3 and a half minutes, we will be in the green through all the indicators in the green. this is the last by the moment of the year, with the last dip

we are ever going to see, the last dip is straight up, are you forecasting that? >> this is the last opportunity to buy the dip, before the market starts to go in the other direction. looking at the options market it is extremely bearish, we haven't seen this much in months. when you see it crowding, so bearish, we are set up for short-term rip rally which is a short squeeze. and and that is my opportunity when to start reducing risks. and a by market is different

story, and the spreads are telling a different story. and and i don't think that is going to happen. we will see a short-term rip and we will sell that. all bets are off, we think they are more downside risk at play. stuart: trying to summarize. if the fed does not disappoint today, short-term market goes up sharply. you will be selling into that rally. we will head south at some point like october and november. is that a reasonable summary? >> exactly right. the best guess is mid-october to end of october we need positioning for defense and at

that time as an investor, difficult to do this but it is about patience and waiting for the opportunity to buy double digit drop we are going to see in my opinion over the next couple quarters. stuart: would you advise younger investors, anybody under 55, or 60, would you advise - i want to stay out of that group. would you advise those younger investors to sell or stick with what you've got for the long-term? >> i'm a big believer that your portfolio should always be active and the fundamentals are pointing to a massive drawdown and you are out there, take advantage of the opportunity we should get because if you have massive profits the last few years there's nothing wrong with taking some off of the table. risk management is something

anyone should be doing no matter what their age or their time horizon. it is a matter what percentage you do that with in regards to risk talent. stuart: thanks for joining us. 30 seconds before the market opens. susan is next to me. i need to get 20 seconds from you, whether the evergraham situation is under control. >> offshore dollar down, - stuart: it is not over. >> liquefying the markets by investing in capital. >> over the longer-term not over, the market is just opened and we are up from the get-go. that is a gain of 200 points. that is 0.59% of what it is worth. all stocks in the dow industrials, united health care, that is the only one on the downside, the rest are on the upside, dow is up 184. s&p is opening higher, gain of half a percentage point.

the nasdaq on the upside to the tune of one third of one%. big tech, always like to show you this at the opening of the market. you probably have money in the stock. microsoft, apple, outlook, amazon up, facebook huge decline. a moment ago it was down 12, now it is up 8 bucks. this may be the result of the wall street journal probe of what facebook is doing internally. investors don't like it but it is down 348. adobe is on the downside, 3.5%. didn't they report real good profits? >> just a little bit, the price to perfection markets beat by a lot in order to see your stock go up but there are some silver linings to the report. stuart: they are down. 8%.

>> they have to spend half $1 billion to attract workers, that's what they did in the springtime, profit down 11%, to start delivering packages for the man the real problem is the labor constraints will continue to bother them getting into the holiday shopping peak period. stuart: everyone is trying to hire tens of thousands of people. package delivery is 100. >> the dow is up 200 points. susan knows about this. >> you don't know about personal styling? >> my daughters do and i don't. >> instead of losing money, the big underlying, and 18% jump in $2 billion in annual sales for the first time. stuart: how about disney?

they sold off yesterday, there was concern about subscriber a disney plus. >> credits six says the selloff isn't an overreaction, stock could bounce 30%. it is down 4% at the end of close and the company was looking at a significant slowdown, only forecasting low single-digit millions of subscribers. 5 million youth sign-ups. stuart: what about netflix? >> remember james and the giant peach, the author of charlie - charlie and the chocolate factory. stuart: i know his material very well. >> net flocks diminish netflix's by means our catalog, they had to pay a lot of money. amazon paid $8 million for mgm, witherspoon's sunshine with

$40 billion. >> each and every year. stuart: a look at amazon, i believe we have more details about the features but is amazon about having killed the department store? >> somebody can do it. they can drive traffic through their online store anyway, they have a technology dressing room. trying on this type of dress that scans and dressing rooms, think of mirrors, personal styling as well. all this data they know with you are shopping for online, they already have some items from their own private labels.

it feeds the amazon machine. stuart: if there's one thing i can't stand it is going into a clothing store, trying summit on, walking around outside. forget it. not going to do it. the news, the dow is up 178 points and these are the winners, chevron, caterpillar down, american express, the s&p 500 winners are headed by devon. a lot of energy stocks. >> you have a recovery in oil into that selloff. stuart: oil stocks up. nasdaq winners, the top performer is netflix doing very well today. 584 on netflix the next case, robin hood up 4% today, $34 a share. crypto wallets official. >> people found they were beta

testing it but robin hood said this is a reality which will launch next month. stuart: through robin hood i can create a crypto wallet. >> means i can send you crypto currency, you can send me crypto currency and in the past you can bike a currency on robin hood which i accounted for more than a third of actual revenue so crypto currency is a big deal and a business driver for them. stuart: you got bitcoin, 42,000 and ethereum is below that. >> i want to note that invesco and one of the biggest players might be starting a crypto etf. it might be - stuart: cryptos up this morning. check the big board up 200 points, 34,100, check the 10 year treasury yield at one.32%.

the price of gold this morning is down 250, 1775 per ounce. here is oil up again one dollar and $0.22 5, $71.71 per barrel. that is why oil stocks are doing well. natural gas not $5 where it had been last week but moving up again towards that level. the mainstream media turning on president biden? role tape. >> i think he has a pretty big credibility crisis on his hands. >> what is the reticence to call something that is so clearly a crisis a crisis? stuart: the once friendly relationship turning rather sour i would say. martha maccallum will deal with that later on the show. tiger woods getting into the in ft game. we will tell you where you can get tiger's digital collectibles. the tick-tock generation turning to the speaker of the house for investment advice. >> apparently she decided to go

very heavy in tech stocks that she but google, amazon, apple and nvidia. shout out an anti-policy for stock picks. stuart: we will tell you about that story after this. ♪♪ ♪♪ the best things america makes are the things america makes out here.

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stuart: vacation, the go-gos, people trying to take off from philadelphia international airport, that is what you are looking at and it is 74 degrees, philadelphia. we reported earlier this week the us will use travel restrictions on fully vaccinated foreigners ahead of the holidays.

i am betting there is a big surge in bookings. >> it was astronomical, shocking in some cases, version atlantic bookings increased 600% compared to the prior week, the most common root, europe to new york followed by orlando, miami and vegas. as research interests, british airways saw 2000% increase for trips around think giving time and buying hundred% for trips around christmas time. they need the money and they are going to get it. stuart: on recent programs we've shown you this, the outrageous price of gasoline at the only gas station here in california, that is one station, $6.74. overall california's are paying an average price for regular of $4.39 way above the price anyplace else.

gas buddies's patrick, why is gas so much more expensive in california? >> you layer all the bureaucracy together, the taxes, cap and trade which is basically carbon management program, special types of gas where the rest of the us is back, winter gasoline, california requiring the more expensive california mandated gasoline for another month, in some cases to the end of october. all that put together leads to what we are seeing, no one comes close to california, hawaii is just on the cusp of $4 so the next closest to california in the pacific, $0.40 a gallon cheaper in hawaii. stuart: energy prices across the board, going up significantly this winter, is that accurate in your opinion? >> look at natural gas which is what many are focusing on and many of the same issues setback oil production thinking of

hurricane ida, not only shutdown the gulf of mexico oil production, loss of 35 million barrels of crude oil the shutdown of gas production. keep in mind lots of natural gas is being produced by oil producers, the benefit of that is they yield natural gas but in many cases they have been greatly slowed down leading to injections of natural gas that are behind normal this time of year. defending what you are filling up with especially heating oil and natural gas will be pricier this winter. stuart: we would like to use you as an economic indicator. last time you were here you told us the demand for gasoline had come down in each of the preceding four weeks. we took that as an indicator of a slight slowing in the economy. the downtrend in gas demand continuing? >> it has. last week, a lesser than expected, one%, basically on

par, the trend micro continue. we saw saturday a 4% increase versus prior saturday. some of this you have the fall travel taking place as the least start to change and sporting events on weekends but i would expect those trends to continue to lead to a slow decline in gasoline. stuart: i live in new jersey and pay $3.20 for regular, right around the national average. you think i might be paying $4 a gallon by the end of the year? >> that would be a grinch style christmas gift, that would be another way and by the end of the year we may get back under the $3 a gallon market. stuart: under $3 by the end of the year? >> we could get there. there's a lot of offices the delay the return to work so that is a lot of commuting demand that gasoline is in there this year.

as long as gasoline continues to cool and as long as we don't see another major hurricane target the area between louisiana and texas which would affect oil and gasoline production we might get out of the woods okay. anyone you should see the traffic in new york city. you should see the traffic in boston, worse than it was in 2019, they are driving back in. always good, thank you and see you again soon. check those markets, we are hanging onto a solid gain, dow is up 200. nasdaq up 30. work horse down on news they will suspend deliveries of their see 1000 electric vans that include 41 vans already delivered. work horse says the vehicles need enhancements and further testing to be certified under federal safety standards but stock is down 13%. i want you to get into the

speaker pelosi idea. what is behind this? >> we get advice on investing from tick-tock. i am being facetious. what congress does in public disclosures, the speaker is the one to watch. >> shout out to nancy pelosi, the queen of investing spent 300,$000 on this one stock. i have concluded nancy pelosi is psychic and she can guess when a stock is going to pump. >> it is not just the policys, lawmakers filed 4000 disclosures were $315 million in transactions. some of those are good investments. how stock watch and senate stock watch. stuart: guys sitting at home, watching and investing where they invested.

and they are. what about gensler throwing shade on longevity of cryptos? >> gendler likens the cryptos to the wildcat banking area in the 1800s that is it in several bank regulations. doesn't seem long-term viability for thousands of forms of private many many of which are not registered with the sec. >> there are platforms, where you can buy and sell these tokens and earn a return of these tokens. highly likely they have on these platforms security, problems with lending platforms or trading platforms and frankly when that happens a lot of people will get hurt. >> is a former professor of crypto currency at mit. a lot of people thought he would be very friendly for the

crypto market. seems to understand the crypto market it is saying watch out. stuart: regulation will make them respectable. good stuff. larry elder as you know lost the race to replace governor newsom, so what now for larry elder? he is on the show later on. how much is facebook willing to spend to protect mark zuckerberg from federal investigation, billions of dollars according to a new lawsuit and facebook stock is down today. back in a moment. ♪ ♪ ♪

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stuart: how far will facebook go to protect its ceo. a lawsuit accusing facebook of shielding mark zuckerberg from investigation by the feds. >> the lawsuit comes from two rhode island pension funds, facebook shareholders and just recently made public. facebook is under fire after that explosive wall street journal report that said

facebook allows high-profile users to post more freely than others. facebook is accused of overpaying the ftc $5 billion to stop the inquiry into mark zuckerberg, the original fine, a big overpayment. facebook's ceo and coo wouldn't be the poster face personal liability. it is all back to cambridge analytic a back to 2015 and the crux of it was the political candidate from cambridge and was harvested for millions of people's facebook, and not enough has been done since then to fix things.

the board never provided a serious check on zuckerberg's unfettered authority, and defended him and took billions of dollars for corporate coffers to make this problem go away. no surprise facebook not commenting. stuart: investors are, it is down $13 back to 370 per share, taking a hit, 1395 down. 13% down. big show for you still ahead. we have martha maccallum, larry elder, nigel farage and tom homan, 10:00 hour of "varney and company" is coming right at you. ♪♪

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i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums]

life is for living. let's partner for all of it. i'm so glad we did this. edward jones ♪. stuart: what's wrong with a little beatles at 10:00 eastern time? nothing wrong with it whatsoever. cot quote come together." that is joan lennon singing that. rally gotten a little stronger. dow industrials up 300 points. back to 34,300. s&p up up 30.

nasdaq up 73. facebook has a problem in the middle of it. the others are on the upside. microsoft at 296. 10-year treasury yield moving to 1.32%. not that much movement there. a moment ago we received big numbers from the real estate industry. that would be the latest read on the sale of existing homes. what have we got? lauren: can i reverse course to give you the number first? stuart: please. lauren: the price came down, came down. lauren: the price came down. existing home median price in the u.s. down from july to 357,600. it is up 14%. we've seen prices come down. what does the fed do with that information. as for sales, the headline number, this is what you asked me, i do apologize. a miss slightly. fell 2% to seasonally adjusted rate of 5.88 million units. down from july's higher six million units.

stuart: the problem still remains supply. lauren: inventory. stuart: inventory. you can't sell more homes if you haven't got them to sell. lauren: sales and price starting to moderate because of the supply problems. maybe people are fed up. stuart: people are not talk to much about real estate at cocktail parties. now it is stocks. lauren: i spoke with a friend yesterday on my drive home. he said he bought a farm in wisconsin and a condo in florida. what are you doing? stuart: put your friend on the show. lauren: he says he has to fix both of them up completely. stuart: good story. lauren, thank you very much indead. now this. november 1st the u.n. climate conference kicks off in glasgow, scotland. ironic as the climate warriors meet to end the fossil fuels, the world needs more fossil fuels. there is a shortage the weather

shows up the green dilemma. they demand we use nat-gas as we pay through the nose to huddle in our homes. you should see the panic in europe. the british warn about rolling blackouts for heaven's sake. the germans are under russia's thumb. they are not putting enough gas in the pipeline in europe. it has doubled this year in europe. doubled this year. president biden here closed the keystone pipeline. new york does not allow any new pipelines across the state. we can't drill on federal lands. nat-gas prices here at seven year highs. are voters okay with this? we don't get a chance to vote directly on a climate agenda, you know. we're left in the hands of bureaucrats that attend the conferences around agree in our

name. there was never a vote. until donald trump came along. first day of fall, here in new york, you can feel things cooling down. just wait until next month when it cools down some more and we switch on our heaters, using natural gas. then, november 1st, the climate warriors meet in glasgow. bad timing. they will rant against fossil fuels just as energy price inflation threatens us all. second hour of "varney" just getting started. ♪. stuart: the white house sending mixed messages on masks during meetings with britain's prime minister boris johnson. i will take you through the timeline of yesterday. first off, take a look at this. it shows vice president harris with boris johnson outside and yet fully masked up.

shortly after that meeting. johnson met with president biden in the oval office, masked up again. then following that meeting johnson tweeted out this photo he and biden in the oval maskless. a little confusing? liz peek joins us this morning. all right, johnson had covid. all three of them have been vaccinated yet we've got this mixed messaging on masking. it seems like it is typical of the whole administration. you're laughing. it is not real funny you know for the rest of us. >> you know, honestly this isn't confused. what isn't confused in the biden white house. the mask issue is totally theater, stuart. the can walk into a restaurant totally masked. you sit down cheek to jowl with other diners, you take off the mask you can't eat with it on.

can you tell me that the virus can't jump around between people eating? i think the masks have some efficacy and i think they have been helpful in some communities but everything about the messaging from this white house on masks, on vaccines is so problematic and by the way it is serious it means that a lot of americans look at these messages, they say why should i get vaccinated if i still have a wear a mask? remember that was something that people were asking several weeks ago. the biden white house had not come out clean about about the possibility of reinfection. they're suppressing numbers of breakthrough cases. i know number of people have breakthrough reinfection. we never hear about that. i think it's a mess. that is why biden's approval ratings on coronavirus handling as well as everything else is through the floor now and upside down, negative. stuart: i will go further than that, liz, it is confusing, yeah, i got that. i think it's a failure of

leadership. am i too strong on that? >> no, not at all. where is the leadership? i'm really glad you talked about the natural gas crisis because all day yesterday my head was exploding. joe biden goes to the u.n. and mostly talks about climate change even as the real problem in europe, stuart, which you didn't mention, is that it hasn't been windy. europe thrown all the energy resources into wind towers. guess what? wind does not always blow. so in the past several years on occasions like this they have resorted to burning lignite to make up for lost energy because of not having enough wind power. lignite is possibly the dirtiest fuel own earth. that is why some of these countries in europe have not met their paris climate accord agreements. guess what, they're not going to. stuart: they're not going to. china won't either or get targets. liz peek, thank you very much for being here. >> thank you, stuart. stuart: move on to jamie dimon,

top banker in america, most famous banker. jamie dimon says the federal reserve could be forced into a sharp move next year. what exactly is the sharp move and why are they going to be forced into it? lauren: hiking interest rates and pulling back stimulus because inflation might prove not to be transitory. at the high prices don't ease, this is a quote from dimon, the fed can't always be proactive. i mean sometimes they're going to have to be reactive. meaning the fed could be forced to hike rates next year to counter inflation. powell and co published forecast for rates in a few hours. look at fedex numbers. the labor shortage hit earnings by $450 million. up front cost, paying workers more money. the cost of having problems throughout the system because you don't have workers to deal with it or supplies that you need. >> dimon saying, got to deal with inflation, probably next year. that means higher interest

rates. fascinating. fed chair jerome powell will hold a press conference 2:30 eastern this afternoon. that follows the decision-making process. 2:30. watch out. bob doll with us, obviously question, will the federal reserve continue to support the markets because i think it has been very supportive of the markets so far. will that continue? >> the fed has been the market's best friend for quite some time and they eventually will become the stock market's worst enemy. it's a process. it will take a cowell years. we move from reduce the rate of growth of the money supply. they have done that. tapering will be next. finally they will raise rates. as you and i talked many times all the inflation we have, not all of it is transitory. some of it's real. we put an inflation paper out across markets arguing the era of 0 to 2% inflation is over. doesn't mean we'll see high inflation but not zero to two.

if it is 2 1/2 or 3 on sustained basis, that has a lot of negative consequences for financial markets. stuart: i believe you're still expecting a five to 10% pullback on the stock market in the relatively near future, sometime later this year, october, november, time. you still on with that? >> still on, stuart, although on monday, around 2:30 at the low on the day we were actually down 5% from the high of just a couple weeks ago. so we've had a 5%er. might it go back into that territory and probe a little bit lower? i wouldn't be surprised. as you know i'm not arguing for a bear market. i'm saying the market is tired and entitled to a rest. we have a bunch of fundamental issues that would support a pause. stuart: but by next year if we start seeing rate increases as jamie dimon is suggesting there, by next year, will it be time to sell stocks? >> probably to back off some. i mean the obvious is if rates go up, bond prices go down.

so you need to be very careful about how much you have in fixed income. stocks will be a mixed bag. some stocks will benefit from the strong economy and good earnings but all of them will have a evaluation headwind if in fact interest rates move up starting with the fed and out the yield curve. stuart: we used to have that expression, wall street climbing the wall of worry. i think it is doing exactly that right now. climbing the wall of worry. >> we got plenty to worry about. the fed, the circus in washington, d.c., on fiscal policy. the slowing economic earnings growth and the list goes on. stuart: indeed it does. bob doll, always good. thanks for joining us. we'll see you soon. thanks so much. now this is an extraordinaire remember story right here, house democrats stripped money that was going to israel's missile defense, the iron dome? the democrats taken a billion dollars out of that support for their missile defense system. lauren, i need more on this

because that's outrageous. lauren: it's a first. it's a first. shows you the infighting in the democratic party, billion dollars dedicated to iron dome, a defense system designed to protect rockets midair to protect israelis from hamas and others, it was removed from the spending bill to appease the squad. house majority leader steny hoyer, introduce a separate bill, stand-alone bill to get the funding for the iron dome. you remember the tweet heard 'round the world back in 2019 when representative omar said the relationship between israel and the u.s. is all about the benjamins. stuart: that is absolutely outrageous. frankly i think it borders very strongly on anti-semitism, right the heart of the democratic party. lauren: snub our ally israel. stuart: when we can use that technology, which is the best technology in the world for missile defense.

oh, no, can't touch that. it is ridiculous. did dozens of big companies want to train and hire afghan refugees. we'll tell you which ones want to bring them on. vice president harris says she is deeply troubled by these images of border patrol agents trying to stop migrants. roll tape. >> human beings should never be treated that way and deeply troubled about it. i will also talk to secretary mayorkas about it. stuart: she is the border czar. i will talk about that with tom homan. he is coming up. thousands of haitian migrants camping under the bridge in texas reportedly being released into the united states. bill melugin has the report from the border next. ♪. one! two! three! four! five! 72,807!

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stuart: the rally holds. we're up 350 on the dow. 36 s&p, 89 on the nasdaq. how about big tech, what is happening there, all of them up exempt for facebook which has a unique set of problems on its own. the rest are winners. dow 30, goldman sachs on there, it should be on the list. it is not. goldman sachs leading gains. it is up sharply. it is a dow stocks. it is goldman gains at 65 points to the dow industrials. fedex down 8 1/2%. $21 lower. they're paying a fortune to bring in more workers. that is hurting their bottom line. it is really, the stock is really way down. that is a major leagues company, down 8%. then there is this, thousands of haitian migrants camping under that bridge in del rio, texas, they're now being released into the united states despite the

administration claiming they would be expelled. bill melugin is there in del rio with the latest. bill, have you seen migrants just being let through? >> yeah. good morning to you. yes we have, not just in in location. all the border resources. texas resources stuck here to the bridge. that leaves other areas exposed. that is where they come in. they know there is no resistance. look at a live situation under the bridge this morning, still looks the same. numbers are dropping. new numbers, there are 6722 people living under here, including 1500 single adult men, more than 4700 people make up family units. as of yesterday there were more than 300 pregnant women here. you take a live look at the fox drone overhead, giving you size and scope of this camp, the numbers drop, it keeps looking the exact same to us every single day. you mentioned the biden administration, secretary mayorkas said other day, any

migrants do not come. you will be sent back. that is not true. the associated press putting out a report that thousands of these haitian migrants being released in the united states. they're being released in a large-scale. we're witnessing that ourselves. look at the from the photographer, flew out of del rio. his report was full of asia shuns, one sitting in the exit row. didn't speak english. look at photos from journalist ali bradley, flew out of del rio yesterday. her flight was full of haitian families talked to her, they were flying to cities like orlando. they were going to maryland. they were also going to new york. yesterday texas governor greg abbott blasted the biden administration for its policies. take a listen. >> the biden administration is a man-made disaster of inhumanity, of epic proportions. it must end, it must end immediately. the way to end it is by the

biden administration stepping up and finally enforcing immigration laws of the united states of america. reporter: we learned late yesterday of an incident involving a deportation flight of haitians that flew back to haiti yesterday. it landed in port a prince. when it was on the tarmac, the haitians on the plane decided to revolt. they, apparently attacked some people. according to dhs, there were two disturbances on the tarmac is the way they're describing it. but we did confirm that three american i.c.e. agents were injured in that scuffle, that riot, whatever it was. haitian crowd control units had to be called out to put that down. concerning information there with one of deportation flights. we'll send it back to you. stuart: star reporter bill melugin thank you very much. bring in tom homan, former acting director of i.c.e. we had the story there about i.c.e. agents being assaulted in port-au-prince, haiti because

they're taking haitians back to haiti and they don't want to go. what's going on here, tom? >> look. big part of of this population is violent. there is more than that. the haitians took over a bus transporting them, took over the bus, assaulted the driver, escaped into the brush. thankfully texas dps helped. they attacked that driver. two flights canceled out of san antonio, once they boarded flights, they got violent. the pilots refused to fly, they were pulled off those planes. officers were injured. part a prince injury is the latest one. this administration put i.c.e. officers at great risk. what does kamala harris do, she concentrates on a still photo of border patrol agent protecting himself and his horse from a violent haitian. she is trying to change the narrative. this administration is lying. i'm angry because the secretary of homeland security gets on national tv yesterday the border

is closed secured, people are being deported. he is lying. we have the video of proof. he is no longer the secretary of homeland security. of insecurity. this border is less secure than my 35 years of experience. stuart: secretary mayorkas was questioned yesterday. one senator questioned him. how many people are here, how many were let through, he wouldn't answer, i will get you that information later. the senator said, wait a minute. why don't you have it now. this is not good enough. that border is open no matter what they say. your head must be exploding tom. >> it is. i've been there i worked for secretary mayorkas when he was deputy secretary. i used to respect him. now he is lying to the american people. he has access to the data. i.c.e. does a daily report who they take into detention, who

they release. this is shell game. border patrol releases some haitians. transport to i.c.e. offices to get released all over the country. he has the data. that data is available every day. they don't want to tell the american people the truth. what irritates me about him, the border is secure around closed. 350,000 got wais, that is not a secure bored, right? hundreds of thousands of, thundershowers released every day into the communities. that is not a secure border. when you see haitians moving back and forth from mexico to get supply and food. that is not a secure border. they have moved so many resources in the del rio rio grande valley, stuart, the other day you have the time shoots, assignment sheets. 224 miles of border were unguarded. nobody was there. stuart: good lord. >> you know the cartels are having a field day with drugs, trafficking, women, sex trafficking of women. fentanyl coming across. 92,000 overdose deaths, dea says come i as cross the southwest

border. 224 miles of border unprotected? that has never happened. this is a tragedy. stuart: its an open border. that is what it is. tom i wish we had more time for you. we'll bring you back soon, i promise. this is dynamite stuff. mr. home hand, thank you, sir. let me refer to the market. i want to make sure everybody knows we got a rally on our hands. it is holding one hour into the trading session. we're up 350 points. there you have it. that is better than 1%. we're back to 34,200. let's get to this story, britain prime minister boris johnson, telling jeff bezos, the amazon guy, pay up, fork over your fair share in taxes. i hate it when the brits adopt that expression from over here. i just hate that. fair share. been hearing that for years. we'll have the full story, boris and bezos after this. ♪

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looking at seattle. interesting, it is not raining. that is seattle. 65 degrees. first day of fall. check those markets. i will like this. dow up 360 now. nasdaq up 102. the s&p is up 37. there have to be some big movers when you have a market like that. susan is here to figure it out. susan: workhorse having some problems today. this stock was down more than double digits 40 minutes ago, because the electric truck an van maker said it would temporarily stop production much its c-1,000 delivery vans, recalling 41 they already sold. the problem they had to test more and make modifications to meet safety standards. stuart: i'm far more interested in facebook. because they're so far down. susan: the fact they were so open about this as well. we have the vp of sales over at facebook saying the new apple operating system and those privacy updates is costing them at least 15% when it comes to

add performance. that is for the broad range of advertisers. as you know apple now allows users to opt out of being tracked on the internet by websites like facebook. stuart: internal, call it a scandal, they may have $5 billion in a fine, much more than they really should have have paid. that was to stop the feds from investigating. susan: the ftc? stuart: that is another story. susan: also the fact that facebook has been so blunt about this. ing into new, we heard mark zuckerberg on earnings call, that apple's privacy updates would hurt their business. stuart: what is the story on apple and the i phone? susan: indications are you looked at the stock today? apple up over one and a 5th%. indications are, the iphone 13 is selling out in china in preorders. that is a big deal. that is shipped from friday. positive reviews on new

ipad mini. stuart: selling out in china. you can't go wrong with that. susan: makes sense for the next generation. stuart: general motors are they up or down? susan: up big, 2.25. nice, yeah. they're teaming up with amazon to offer on star emergency services. the fact that gm is trying to get away from its staid reputation of being a traditional carmaker. so there is add-on value when it comes to services. as you know they're getting into electric big time. stuart: yes, they are. if you're just joining us, news is we have a rally one hour into this wednesday morning session. we're up 374 points. that rally is holding. no idea how we close but right now we're up. then there is this, hispanics are the only group that is increased homeownership rates in the last six years. so we are told. lydia hu is on the story. she is in new jersey. what is the behind the rise in

hispanic homeownership? >> stuart, one of the reasons is median age of hispanics and latinos. it is pretty young, 29 years old. which puts them at prime home buying age. another reason are programs like ba home loans that helps veterans buy homes. veterans, just like andre who we have here, he is a veteran the marine corporation. thank you so much for your service, second of all congratulations on the new home purchase you have seen behind us. you took advantage of the one aspect of va home loans which requires no down payment. how big and meaningful of a difference did that make when it came to buying this home. >> first, thank you for having me. no, but the va pretty much helped me where it was money was tight. i was by myself. i'm a shingle father. it was able to proviewed the home and future expenses that might come with the new home. reporter: we know it is making a different in a lot of hispanic veterans lives. look at some of the stats.

homeownership among hispanic veterans. around civilian veterans, just under 50%. andres, why was homeownership a goal for you? that is big responsibility. >> i want to reach the american dream. i have a 3-year-old son, give something in 25 years where i move out he has something to own of his own. reporter: congratulations on the milestone. during the pandemic, stuart, it was sellers market, we saw applications among latinos and hispanics increase, by 13% over 2020 year-over-year. experts say the trend will continue over the next few decades. every homeowner, every new home, 70% of them will be made by a hispanic or latino person. stuart? stuart: that is remarkable statistic. good one too. lydia, thank you very much indeed. thank you. i want to get back to the numbers we received at 10:00 eastern time. that is the numbers on existing

home sales. we're selling homes at an annual rate of 5.88 million. we also found out that the median existing home price, sale, is nearly 15% higher than it was last august and that median price is 356,700 bucks. mitch roschelle is our real estate guy at the moment and the joins me now. seems like the market, it is plateauing off but in terms of price and number of sales. is that an accurate reflection of the market? >> it is accurate. i think the pace of growth is slowing. you see month over month sales price actually fell. it is just a supply and demand story. the good news is, you know, you and i talked about boom versus bubble, versus bust and it's a good sign that the market is self-regulating and not overheating. that is exactly what fish enmarkets do. so i look at today's numbers a

good story, not a bad one. stuart: are you still seeing bidding wars? >> yes the bidding wars are still there but they're slowing down a little bit. we're in the fall, which is not exactly prime home buying season for folks who want to put their kids in schools. that is what we saw the most in the spring and early summer. so things have cooled off a little bit. but in destinations like florida where i am right now, bidding wars still exist. and they're going to heat up once foreign buyers come back into the market. foreign buyers have largely been out of some of these destination locations for about two years and my informnal survey of realtors tells me as soon as they start coming back, which will be soon, the bidding wars are going to heat up again. stuart: the brits just love florida for the sunshine and the weather. it is just across the pond. when they come back, you might see some price rises. could be. mitch roschelle, always good. thank you, sir. >> see you, stu.

stuart: you remember this from the pandemic, no toilet paper, empty store shelves? costco is sounding the alarm again. we got the story. president biden meets boris, british prime minister at the white house. as soon as reporters started asking questions, this happened. roll tape. >> thats's the -- [shouting] >> let's go. let's go. thank you. stuart: we'll show you the full clip in a moment. you won't believe how they protect him from any questions. ♪

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♪. stuart: on this the first day of fall, it is 76 degrees at the white house and that's what you're looking at. rain though coming on a bit later on. those markets still in rally mode, still in rebound mode. we were down 600 monday, down 50 on tuesday. this wednesday we're coming back to the tune of 370 points. not all the way back by any means. this rally at this moment has been holding. we've shown you president biden ignoring shouted questions from the media but watch what happens when britain prime minister boris johnson tried to answer questions himself in the oval office. roll tape. >> would it be okay if we have a couple of questions just, just a couple of questions? >> good luck. [reporters shouting questions] >> let's go. >> why can't report es get questions?

stuart: this is absurd, said the reporter. they're just protecting him from himself. he was cut off mid-sentence, president biden did not take a single question from the u.s. media. nigel farage coming on to take that on. nigel is next. now look at this, jeff bezos meeting with britain's boris johnson. what are they talking about? lauren: boris told bezos pay your fair share. amazon uk sales last year, 28 billion u.s. dollars. its taxes there $25 million. so bezos said, according to boris, look i'm a capitalist. i'm not going to pay as an act of kindness which puts the own news on governments in europe to increase taxes if you want america's big tech companies to pay. there is always a loophole. they're is always a way out. i don't think our tech giants like amazon won't like european governments tell them what

they're paying. stuart: boris laid on thick, whatever the fair share is you got to be paying. >> something is coming. there is 2% digital tax in the uk and other european nations. it is not for amazon directly. amazon said we increased prices for customers to get around it. stuart: bezos is smart businessman. federal reserve chairman jerome powell, this is a crucial statement we're going to get later on this afternoon, about 2:30 eastern, he will be speaking. this could move the market. edward lawrence in d.c. edward any clue what is we can expect to hear from him? please, can you tell us in plain, straightening like, if you can? reporter: not fed speak? stu, we're looking out with a couple of things, statement at 2:00 eastern time and news conference you mentioned at 2:30 eastern time by the fed chairman. we expect federal reserve chairman jerome powell to offer some clues when the tapering starts, when the fed stops buying treasurys and mortgage-backed securities.

we're looking to see if he lays out how fast the tapering will happen. on the second point we might not get much clarity. powell said in the past the fed will move in a deliberate fashion not to rock the markets. i interviewed st. louis fed president james bullard on your show on august 27th over the phone. he is a more aggressive voice on tapering. listen from august, when he said about asset purchases around when they should happen. >> as i said to be at the end of the first quarter, by the time we get over there into the first half of next year we're going to have a better view whether inflation's really going to moderate in 2022 or not. >> so he wants to see the last purchases in march of 2022. so bullard says if inflation does not moderate, then the fed will have to be more aggressive in 2022 with the rate hikes and that's the other thing that we're looking at, that dot plot. the clues will be to see when we might get some of those rates

increases. last time it was released there were no rate increases in 2022 but some in 2023. two of them. we also did not see this amount of inflation. the fed projected inflation much lower. fed might be forced to act faster if inflation continues at this place. stuart: edward, we'll watch the live performance at two 30 eastern here. edward, thanks. costco warning about delays in essential household items. what is that all about? lauren: toilet paper shortage is back. you can still buy toilet paper at costco, let me be clear. if you place online order, some customers are getting emails, there will be some processing delays here. some costcos are limiting number of toilet paper rolls you can actually buy. this is stockpiling and delta variant, the fact that proctor & gamble, they're the biggest producer of toilet paper in the country, they're running their factories 24/7 to make

enough as we stock it up. stuart: anecdotally i heard there is shortage of labor at cost coast as well. that is hurts them. lauren: heard from workers and pictures on social media. when you're in one of the big aisles of costco, line of carts with the items in the carts but they don't have the staff to go to get the item on the shelf. if you're a customer, this happened to me. do you take from the cart? how do you handle that? i take from the cart. stuart: happening all over, shortage of workers. really affects things. markets, please, look again, keep saying it the rally is holding thus far this wednesday american -- morning. stuart: appears the media started to turn on president biden. watch this. >> i think he has a pretty big credibility crisis on his hand. >> what are we doing to justify or explain what appears to be very bad behavior on our part now? stuart: martha maccallum will join me in the 11:00 hour. why is the media beginning to

turn on president biden? wasn't expecting that, but march that may be able to explain it. two brothers return home to montana to chase down a lot of treasure. "american gold," new show debuting on fox business's new prime lineup. the stars of that show will give us a preview right after this. ♪.

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stuart: no sign of slippage really. we're holding on to a gain of 340 points for the dow. look at that nasdaq go. up 106. it is a bounce-back from the selloff on monday, and another small selloff yesterday. we're back up 337 on the dow. now this, the new fox business prime line up debuts this week includes a show called "american gold." that will air at 8:00 p.m. eastern, "american gold." that show highlights the dale brothers they return to montana their home, on the land they grew up and chase down family

legends that could be worth millions. roll tape. >> i had a guy tell me early on in my career you will spend the rest of your life working your idea or working somebody else's. got to decide what you want to do. all of us work for mining companies. all of our lives. now we're working our idea. stuart: you got me. i love the idea of gold mining. tad and rick dale join us. gentlemen, what makes you think there is indeed real ton of gold on your 800-acres? >> go ahead. brother. >> the family legend, which we believe in. our grandfather, our father were very pragmatic people. they knew these mountains, and

new mining. as the legend has been passed down, it put in all the desire to pursue it, see if it is indeed true. and that justifies our effort. stuart: tad, let me ask you this, let me ask you, tad, the gentleman on the left-hand side of the screen, tad, i know you started to mine. that is what the show is all about. have you come up with any gold so far? >> well, we know there is gold in that mountain. we've gotten some real teasers. one rock had, that has gold in it doesn't make a mine. stuart: have you come up with any gold so far? >> yes, we have. stuart: a lot? >> well i can't answer that yet but we're working on it. we've got a lot of work to do opening up these -- mining is a tough business. you just don't walled in, hey there is a bunch of gold, take

it out, process it, put it in our pocket. that is now how it works. we have some teasers that have some gold but we've got a lot more work to do to develop it. stuart: do you know how much gold your grandfather and your uncles took out of that property? >> well, our grandfather and our uncles didn't own the property. that's the beauty of us being together as brothers when we're retired. we acquired this property, the deeded ground about 12 years ago. we finally have ownership of this legend that came to our grandfather about 100 years ago. so we're going to try to fulfill the family legacy and see if that gold exists where that prospector discovered it and covered it up. stuart: tad and rick dale. we'll watch to see how much gold you come up with on your property. we wish you the best of luck. that will be the new fox business prime lineup, "american gold," westerns 8:00 p.m. eastern. that is them.

coming up on the show, ryan style, larry he would and nigel farage. haitians in del rio, texas, the latest example of the incompetence of the biden administration. that is my opinion. you will hear more of it in just a couple moments. that spin class was brutal. ..

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>> they heard from president biden that everything is fine down there and members of congress. they are feeling pressure from constituents, >> everything about the messaging from the white house on masks, vaccines, is so problematic. >> i don't think they will talk about tapering, visited in november. they will do little harm and consistently positive. >> the last opportunity to buy the dip and next rally up before markets going the other direction. ♪♪ i'm on top of the world

♪♪ we are in for a lockdown ♪♪ stuart: wednesday september 2, '02, the third diminish the first day of fall, markets holding a rally and advancing, dow is up 400, nasdaq is up 120, this is a significant bounce back and so far the bounce back is holding. big tech have taken on the chin the past couple days but are on the upside except for facebook. specific news on facebook taking it down 3% which is a major drop. the yield on the 10 year treasury is up one.32%. now this. the haitians in del rio, the latest example of the biden presidency with dreadful consequences. they are flying to haiti even though many haven't lived in haiti for years.

three ice agents escorting, the pilot assaulted in port-au-prince, the haitians didn't want to be there. a bus was hijacked, they didn't want to leave. those not flown out our lead into the country. no covid test. what has except the democrats, what is upsetting them, this. border guards using horses to round up, and they are under investigation. the president is losing his party, certainly losing the left, 38 civil rights group demand he stop sending people to haiti. senator schumer says turning back haitians at the border defies human dignity. i think he is scared of being primary and by aoc. there are reports of more

haitians on the way, 200,000 migrants mostly from central america arrive every month. mister trump cut the flow dramatically in president biden started up again. is incompetent team made things worse by their own inactions but most worrying of all is failure of leadership, 3 and a half years to go. the third hour of "varney and company" just getting started. martha maccallum is with us, great to see you. is the white house really interested in controlling the border? >> i don't think they have a choice. i think of the debate when president biden said if you are seeking refuge you should come. that the kind of country we are. you should come to america.

they are coming en masse, 200,000 as you say a month. the haitian situation, i am floored, to being appalled at what border agents are doing. if you go to the root cause part of her assignment. haiti has extreme root causes. as she been on the phone with the haitian president? has she been talking about the plate of patient people, there should be some ammo, some organization rather than people rushing the border at our southern border and putting texans, 35,000 population in del rio of texans, 20,000 haitians. can you imagine what it is like living in that town and i feel for these haitian people. they are in squalor. who is running the show? what are we doing? stuart: it is absolute incompetence. the haitians asked the biden team send over the national

guard, send police officers. this is in july and early august. they were falling to pieces then. no response from the biden team. the haitians left. they make their way to the southern border. >> they want to pretend it is not happening. they have the left flank upset that haitians are being mistreated, racial issue that shows system increases in the country. i would point out the extreme covid hypocrisy here. if you are talking how proud we are as a nation of our global vaccination process, 20,000 people. 100,000 vaccines, vaccinated these people. this would help when you go back to your home country and the place you are relocating to if that is what you are doing,

give them all vaccines. instead of ignoring it and psaki said they are only here temporarily. we know that is not the case, and tested vaccinated. stuart: how do you feel about this? the media looks like they are starting to turn on president biden. >> a pretty big credibility crisis on his hands. pretty bad behavior - >> thousands of people. what is the reticence, but is clearly a crisis. stuart: i did to know why the media is turning on the president at this point? >> a very good question. impossible to ignore the failures in afghanistan and what is happening at the border, you would ever be a reporter with your salt if several months into the store you don't recognize what is

going on. they look at biden's numbers and see what is happening. another white house reporter, talking how biden's relationship with france fail then looking like trump is at the border. there's dissatisfaction outside the ranks of press that has been favorable. stuart: they are worried biden will lose the democrats the election in 2022. >> and figure out what happens after that. what is plan b? stuart: i don't think there is one. we are watching you on the story, 3:00 pm eastern. back to the markets please because the rally has extended itself. we are up 122 on the nasdaq, 405 on the dow industrials. fed chair powell has the news conference this afternoon, very important for the markets which we will be watching closely. kenny will be watching and he

joins us right now. will the fed rock the boat this afternoon as we are trying to recover from a financial panic? >> i don't want to think they will rock the boat but a lot is going to depend on what the.process is. the upon not worried about the taper conversation is because they are talking about that, if anybody sing in a closet going they never heard of that before that is another conversation. i am not worried about whether it is in january or whatever. it will be all about what has happened since june. more members now moving towards an interest rate increase in mid-2022 versus the end of 2022 or the beginning of 2023 and that could spook the market. i don't think the market faces it at the moment because it is strongly, if that is the message, markets will be

spooked. stuart: the market is doing well at the moment. do you think the ever grand concerns have been laid to rest. >> how they are going to make one payment tomorrow, the other two, they didn't talk about but leading a lot of people to suspect they negotiated postponing it versus putting it in default so they settled it down and they pumped $14 billion into the economy suggests they need to get in front of this. they found it. the moment people were talking about, never thought it was going to be. stuart: what are you telling your clients? all be negatives around, what about evergrand, what about

spending, all of these potential negatives? what does a guy like you tell his clients at this moment? >> depends who you are as a client. i'm telling you want to get the 30-year-old because you have 30 or 40 years to go. if you are 60-year-old your in the generation that you and i are in you might be having a different conversation but it is not going to look the same anyway as a 30-year-old in terms of exposure you are into but what i say to anybody is this is not the time to panic. look what happened on monday when people started to panic. three days later we are back up, the trendline resisted again. it has to be about focusing on the long-term making sure your portfolio is well-balanced and well diversified and comfortable with your holdings and if you are there is no reason anybody should panic. we have a good advisor, a solid plan, you are not going to chase the high growth rate, you

will put new money if there is new money into the sectors you believe are coming into the new year. the value play. i'm big on the value story. that will be the theme in 2022. that's positioning myself with clients. stuart: i used to have your energy until three weeks ago but - >> i had three cups already. stuart: good luck, see you again soon. take a look at apple. they added a feature to their iphone that lets you show your vaccination status. >> if a business wants to see you are vaccinated they talk to each other. if you have 15.one, then it was operating system, the apple while it can store your vaccination status and your test results in the health apps

and you could choose to share with concert venues, airlines, anyone who wants to see a vaccine passport. these are changes in apple's operating system, facebook is talking about this was they underreported at performance by 15% in the third quarter because privacy updates in the ipad and the iphone, apple has users in to be tracked. that is how so many advertisers make money. the advertisers like facebook to execute their big plan. stuart: that is one of the reasons facebook is down today nearly 4%. president biden just met with boris johnson with and without facemasks. kind of mixed messaging. nigel farage will take that on shortly and we are facing a

major crisis on the border but the democrats 3 trillion spending bill includes no funding for border patrol. congressman brian style is fired up about that. he joins me next. ♪♪

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like you, my hands are everything to me. but i was diagnosed with dupuytren's contracture. and it got to the point where things i took for granted got tougher to do. thought surgery was my only option. turns out i was wrong. so when a hand specialist told me about nonsurgical treatments, it was a total game changer. like you, my hands have a lot more to do. learn more at factsonhand.com today. stuart: the o.

we should show you more often. it is a beautiful building. 77 degrees. let's get to politics, president biden wants to raise the rate on long-term capital gains to 39.6% and wants the top corporate tax rate to go to 28%. hillary vaughan on capitol hill. those rates appear to be higher than in other countries. >> reporter: and a lot of other countries when you do the math looking asked what president biden wants to raise the corporate tax rate to 20% that is just the baseline in the us because a lot of states have additional corporate taxes on top of that so the true rate is higher than that, a 20% hike is hired a lot of countries. minority leader mitch mcconnell blasted biden's plan to jack up the corporate tax rate, a smothering wet blanket thrown onto an economy that is struggling to fully recover because of the inflation and worker shortages the democrats policies of at least. under biden's proposal to raise corporate tax rate to 20% on the federal level that puts the us behind asia and europe but

also behind china who has a corporate tax rate of 25%. biden's push to hike capital gains to 39.6% would be higher than china but only as a 20% - the white house is downplaying higher taxes on businesses will trickle down to workers, less likely pushed out an op-ed by former senator harry reid who set on corporate taxation we can raise the rate of lowest corporate tax rate the country has seen since world war ii and until donald trump's giant corporate giveaway, the lobbyists will complain. this will oust their corporate clients to protect diminish contribute more but these investments will make the us more competitive, not less. not every tax expert agrees with that. the tax foundation says workers bear the burden, 70% of corporate income taxes through their wages and employment and consumers could be hit too. the national bureau of economic research found 31% of the corporate tax falls down to

consumers. stuart: trump's giveaway which produced the best economy we had in decades, where are they coming from? that was my editorial comment, not yours. the house approved the democrats bill to avert a government shutdown and suspend the debt limit. it was a partyline vote. from wisconsin, if we don't raise the debt ceiling, the treasury secretary says we are looking at an economic catastrophe. isn't this a story of who gets the blame for government shutdown? you will shutdown the government by not allowing a debt ceiling rise. the government will shut down you are interested avoid the blame. >> democrats can move the debt ceiling by themselves, they want publicans to come along for the ride but don't want any fiscal responded to me. they don't want any control on

their spending, they are looking at putting $3.5 trillion spending, $1 trillion for infrastructure, they don't want limits. they don't want republicans to negotiate a debt limit, they need to come together and have a serious conversation about their out-of-control spending. stuart: they could pass the debt ceiling raise immediately. it is in the senate. they've got the votes to do it. they could do it but they won't because they want you involved as well. >> they don't want to move through a reconciliation process. they don't want to put a number in front of the american people to show what the debt is increasing to and they want to bring republicans along for the ride on the debt ceiling vote but refusing to negotiate with republicans on their out-of-control spending. they are moving us in the wrong direction. i'm concerned about the out-of-control spending put forward by pelosi and biden. we need to get it under control, step what is have a conversation as relates to the debt ceiling.

stuart: the $3 trillion deal, none of that money goes to the border patrol. how can that be at times like this? >> priorities of nancy pelosi and president biden are not the priorities of the american people. it is telling we have an absolute crisis at the southern border playing out on our tv day in and day out yet $3.5 trillion bill since no money to address the crisis at the border, the priorities of president biden and pelosi are not will be a hearing from people day in and day out. stuart: you will vote against raising the debt limit? >> in particular in this time when there is no control and spending by the democrats, no limit to what pelosi and biden want to spend. we can't stand idly by and allow them to have a blank check as relates to spending. stuart: it is an important day, appreciate it. back to the markets. the nasdaq is up 130, the s&p

is up 44 points. that is a rally and so far, two hours of business, the rally has held. let's look at higher that is high at hotels, they will offer 7 million shares to the public, they will use the money they collect to help acquire the apple leisure group, nothing to do with apple computer. a personal finance apps, jeffrey says by that thing because they say to jump 60% the next 12 months. trying to do the math, if it is 16 now, a gain of 60% would be $25 a share. that is where jeffrey thinks it is going. amazon studio close a deal with eddie murphy. he will starring three films and develop original film projects for prime videos and studios. eddie murphy goes with amazon. netflix purchasing a well-known author's catalog was who might that be? ashley webster knows and he will tell us.

ashley: good morning. rolled all, the writer of charlie and the chocolate factory, the fantastic mister fox, james and the giant peach. it has not been revealed how much netflix paid for the catalog but the streaming giant will control all publishing rights as well as tv and film and receive all the royalties. in total, 19 tv shows, films and stage shows already in the works. this is a big deal. the catalog which was run by his grandson will now become a division of netflix was i did not know but he was born in wales and was a world war ii fighter pilot. what a life he had. stuart: i did not know that. i know his books but i didn't know that about him. what have you got here on disney and disney plus, some bad news in the streaming wars. ashley: the number of new subscribers starting to slow down. disney's ceo says the streaming

service has encountered head wind and future subscriber increases will be in the low single digit millions. consumer adoption and retention at disney plus has come in what he calls fits and starts. all the streaming services are seeing a growth slowdown because consumers are taking advantage of reopening economy and cutting back on the number of subscriptions. to stop the trend disney says it has dozens of movies and television shows in production for the service. as always content is king. stuart: look at this. tiger woods teaming up with tom brady, nothing to do with sports. this is nothing but an ftes. california's governor newsom survived the recall but is up for reelection next year. will larry elder challenge newsom again? larry is on the show next. ♪♪ front and center ♪♪ when you look back in

♪♪ looking down ♪♪

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stuart: make me feel so what? i can't hear the next word. it is not just dark gray. we got the rally still in place. what have you got for robin hood. robin hood confirming, and and give ownership, and can't transfer the crypto. >> if they then we can trade cryptos backwards and forwards.

>> it would be more one way. i really see anything transferred from you. >> united airlines. >> look at the value plays. united also said they have 97% of their employees vaccinated because of the vaccine mandate and the high-growth high-tech plays, the infrastructure play with city securities helped move data and financial services transactions but a lot of the high-growth high-tech names, look at the rally we are seeing across the board, we moved to high-tech, to something more valuable. spending half $1 billion to get people to deliver their packages and that is a 10% drag on their bottom line. it's not going to get better heading into the peak holiday

shopping period but they announce a pilot program, along with aurora which is a self driving car company, they do a commercial pilot to test the self driving vans. stuart: i can understand that. they do a lot of delivery. >> they can't find the workers, the car drives itself as that would be a boost for the bottom line. we want self driving cars and trucks are the answer to a shortage of drivers. >> automation, robotics. of the one like bringing in a computer to order at mcdonald's instead of ordering from a real life person. >> which you have tried. stuart: gavin newsom did win the california recall election, he did defeat his main challenger larry elder. bring him on, welcome back, we missed you. i know you were very busy trying to be the governor of california but we did miss you from this program. we are not insulted that you wouldn't appear on us but you

did appear on everybody else. >> i wasn't invited. stuart: what is your biggest take away? >> the electoral map is a different than it was in 2003 when gray davis was recalled. there are 5% more registered democrats, 50% more registered independents and the new york times and registered independents vote democratic. there's a 30% decline registered republicans to the electoral map it is different that was in 2003 when gray davis was recalled and schwarzenegger replaced. i carried all 57, 58 counties for the replacement side. the only one i didn't carry was san francisco and the votes are still in and i will flip as well. when the election was called for newsom two counties, san bernardino and riverside were called, their flipping to the

yes side. i was outspent into one, they turned it into a referendum on donald trump, and the republicans. none of the outside is like obama and harris and bernie sanders said one word about his record on crime and homelessness, shut the state down in a more draconian way, and recalled. and the rolling brown outs, poor water management and republican takeover, all demolition it worked. stuart: one of the issues was the high cost of energy and gasoline. we got reports which suggest the cost of energy will go up some more. gas prices may go up more than what is on your screen right now. having said that if you

campaigned on that, which will get worse this winter, will you consider running again next year when newsom is up on reelection? >> i am giving that consideration but there are other issues as well. the la times called me, the blackface of white supremacy, i was called everything but a black david duke by the la times. politico was vicious, cnn was vicious. i was accused of being sexist but when rose mcgowan, the actress made an allegation the gavin newsom's wife called her before the harvey weinstein story blue up because she alleged she was raped by harvey weinstein, gavin newsom's wife called mcgowan to get her to back off the story, we held a press conference, none of the media even bothered to report on this. i support elder, she never stumped for me.

i was attacked viciously by the media, characterized as a black extremist, the blackface of white stability, gavin newsom did not campaign on his record. the outsiders yelled republican takeover and showing the picture of myself connected to donald trump and that won the day. i'm not sure what a rematch would produce. stuart: i'm not sure a republican could win a statewide election in california either that next time you are on we will posit that question. can republican when a statewide election in california? the formerly golden state of california. you are all right, come back soon. >> we need to restore the california dream and i am not leaving the state at least not yet. stuart: there's room in my house on the east coast. i am staying on california. the ports in california facing a huge record backlog. what does that mean for the rest of it? ashley: expect the cost of goods and services to go up. you may want to start christmas

shopping right now. a record 70 cargo ship scaring everything from furniture to electronics and toys are facing delays at the ports in california which handle 40% of the nation's imports, shipping traffic up 50% from pre-pandemic levels but the ports artform creating a huge backlog and to make matters worse, no shortage of trucks and drivers to every 16 truckloads of goods, only truck available, that says it all. that is leading to huge concerns that some store shelves could be empty during the holiday shopping season. you have been warned. stuart: it means inflation too. there is one more for you. it is not for you. hold on. sorry about that. not yet. mm a star connor mcgregor knows

how to throw a punch but not a baseball, he threw one of the worst first pages in history. we will show it to you. you won't believe it. more than half of all school districts facing the school bus driver shortage, massachusetts called in the national guard, new york may be next. we have a report on that next. ♪♪ (vo) singing, or speaking. reason, or fun. daring, or thoughtful. sensitive, or strong. progress isn't either or

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>> as our supported 25 points. microsoft has a new line of surface computers. a new line in surface product and that stock is up one.4%, 298, lots of oil companies,

nasdaq winners headed by bookings, netflix gaining 3.8%. have a look at jpmorgan. we have a report that says that bank is going to get into college financial planning. ashley: when you are looking to attract lifelong customers this makes sense, not only the students but parents as well. jpmorgan chase, the platform, frank, an online portal that help students apply for and negotiate financial aid. terms of the deal have not been disclosed but jpmorgan has been buying startupss, jamie dimon has found the bank will be much more aggressive in pursuing acquisitions and that is

playing out. stuart: let's talk about the nationwide bus driver shortage. so bad some school districts had to cancel classes. madison allworth, parents in madison want to call in the national guard. >> they are open to it, looking for solutions to this problem. right now in new york, a shortage of 15% of schoolbus drivers, they are getting home late and new york is not alone. half of america school districts describe the bus driver shortage as severe or desperate. how desperate? massachusetts has already activated the national guard to get kids to school. governors need 250 personnel to drive those kids and other

places trying to find options to get those kids to school. in philadelphia parents are offered $300 a month instead of relying on schoolbus think. when the pandemic started and schools closed many bus drivers who have commercial licenses went to jobs for delivery services and those who work in industry say they aren't coming back and should have seen this coming. >> that was the perfect storm. that combination decimated our industry to a point of no return. nobody knew this was going to happen, you shutdown an entire industry of people. >> it is desperate. the schools like you mentioned are back to online learning because they are struggling to get kids physically to the classroom. stuart: thank you very much. unlike president biden, britain's by minister boris johnson actually wants to speak

to the press. watch this. >> we would be okay to have a couple questions, just a couple. stuart: that is what he says was our president says good luck when boris wants to take some questions and that was right before president biden's handlers cut off any questions. nigel farage will react after this. ♪♪ won't you please please help me ♪♪ ♪♪ in so many ways ♪♪ to vanish in the hay ♪♪ it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. get ready for it all with an advanced network and managed services from comcast business. and get cybersecurity solutions that let you see everything on your network.

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coverage for less money. there is no obligation to enroll. whether for yourself or someone you love. call the number on the screen now. call now. stuart: the only word i can use is chaotic was a chaotic scene in the white house, the president was making boris johnson -- when johnson asked if he could take a few questions from the british press look what happened. >> a couple of questions, just a couple. >> president biden: good luck. >> what is your response to the situation - >> ask a question. stuart: there we go again. his handlers would not let him

anywhere near question time. nigel farage is laughing. is with us. what do you think boris made of biden's inability to answer questions? >> the whole scene was unprofessional and at times inaudible because they were wearing their facemasks so you couldn't make out what they were actually saying. i don't know how shocked boris was the country on the side of the pond can't believe the leader of the free world, the elected president of the usa, is not allowed to take questions and that is making british media for the first time promptly asked a question, is this man fit and capable to be the leader of america and the free world. we are quite shocked. as you know in this country prime ministers are questioned in the house of commons openly

every week, the prime minister's questions which is a great piece of theater, questioned by the media, we can't believe president biden is not allowed to answer questions and today we learned even the few sentences he spoke in that get together were scripted for him word by word and read by him. it really is shocking that america is led by this man. stuart: does this mask, does this work for us? this mixed messaging over masks is coming from the white house, vice president harris took a picture with boris with masks on. then boris and biden took a picture with their masks on. and the president and prime minister were both wearing masks again during the meeting and took them off. now they are close to each

other, no masks. this is a message for brits. this is not how you message. >> it is incoherent. it doesn't add up. you juxtapose one picture with the other you ask what is going on but that is the impression i get with the whole administration that it is all over the place and that is why is losing support in the polls. no one knows what it stands for. i have to say in terms of choreography, in terms of imagery, in terms of professionalism, the biden administration showed themselves in a bad light. in terms of substance what we really learned is president biden does not like america's closest ally and have been your closest ally will over hundred years. he doesn't like us. there is no progress on a trade

deal, no comprehension of what has happened, when we are cut off from the uk and before boris johnson gets on the plane back to london a stab in the back as biden announces a vaccine deal with the european union that doesn't include the uk. we know where we stand, that biden doesn't like us, he is pursuing the philosophy of obama which is if we voted brexit as far as he was concerned we are at the back of the line. i'm sad that is where we are, not just culturally but historically the in business terms we are still the biggest foreign investor in the us, the us is still the biggest foreign investor in the uk. we share so much in terms of business, so much more we could do and yet president biden is prepared to put his own prejudice ahead of the

interests of american business. stuart: thanks for revealing it. nigel farage, thank you very much. i just want to squeeze this in. tiger woods teaming up with tom brady about nfts. what is this about? ashley: woods says brady's autograph is at the forefront of digital collections to anticipate, offers from woods ranging in price to $100, those are on sale. only 300 nfts, a digital version of his signature will be available. that will cost from 250, to $1,500. tiger woods is added to the autograph advisory board alongside other athletes including simone biles and wayne gretzky. >> mcgregor throwing out the

first pitch. >> when the video speaks for itself. >> in new york, the mets. i thought it was a joke. >> might have been better than $0.50. ashley: take the jacket off. almost as bad as wrapper $0.50 who left it to the left, terrible. stuart: more varney after this. . .

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stuart: no question the big story of the day thus far is the stock market rebound from the big loss monday and the smaller loss yesterday. that is a rebound. dow is up 450. look at that nasdaq go. up 160 points. close to 15,000 again. time's up for me but neil, it's yours. neil: thank you, stuart, very, very much. we'll see if that holds. we have four hours to go. a lot of optimism maybe china will intervene with what is going on with its largest real estate concern evergrande, if not out right rescue or shore it up in some way, shape or form but not a gimme. what the federal reserve will decide when it makes its announcement after wrapping a two-day meeting a little after the 2:00 p.m. eastern time. edward lawrence with all the