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tv   Varney Company  FOX Business  October 26, 2021 9:00am-12:00pm EDT

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maria: she has been. dagen: i interviewed sarah when she founded the company and it started with the pantyhose she cut the hose out of and want to defunct textile manufacturer and had to make her first pair of spanks. maria: great to be with you. "varney and company" begins right now. stuart: good morning. this program covers money and politics. sometimes politics and money. today no question the news about money is spectacular and that is what we lead with. $1 trillion company worth more than general motors, bmw, honda, musk himself is worth $300 billion give or take 1 billion here and there.
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he's worth more than toyota. that kind of wealth makes a target of the billionaire tax. musk is not happy about that quoting margaret thatcher he tweeted socialists eventually run out of other people's money, they come for you and your money. musk next challenge is to produce enough cars to meet surging demand. that is tesla. facebook reported strong earnings in the face of fierce criticism on both sides of the aisle. mark zuckerberg came out swinging. on the call with analysts he started to fight back saying leaked documents paint a false picture of the company. the stock is higher this morning, 3:30 is the price on facebook. overall this market looks like it is in a melt up phase as many analysts have been forecasting. the dow hit a new record monday, it is up another hundred points to the upside. the s&p another new high
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yesterday, up again this morning. the nasdaq sharply higher monday and look at it going, close to 100 points. perhaps this is happening the nasdaq, the yield on the 10 year treasury is around one.6% level. despite energy price inflation, grocery store inflation and a supply chain crisis interest rates remain pretty much in check. that is money, there's political news too. a new poll shows glenn youngkin has caught up with terry mcauliffe, education is the key issue. an angry suburban parent is the key demographic by the republican surge. republicans will carry that issue into the 2022 elections. president biden scrambling for a deal on spending. they are still talking. he is up against the pressing deadline. he leaves for europe friday. meeting the pope, and she 20 leaders and goes to glascow for the climate conference. he is going to glasco empty-handed.
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joe manchin vetoed part of the green new deal. here comes another crisis. tuesday october 20 sixth 2021. "varney and company" is about to begin. >> a windy new york. a nor'easter coming at us today and look who is with me, brian bromberg, lauren simonetti, you come in from the suburbs. what kind of trip? >> superearly. west side highway looking like a swimming pool at times. if you can work at home today i would do it. >> in the parking lot it was amazing.
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stuart: all driving through puddles. we got the case shiller 20 city home price index. what about home prices? >> prices rose 19.7% year over year. less than the month before but the second largest annual gain, prices up 33%, san diego number 22 at 26%. stuart: the real estate rally in terms of prices. >> august's number was less then july but i'm not ready to go there yet. stuart: the next story is elon musk and his personal wealth. he himself is worth more than exxon. >> exxon mobil and nike, not together but individually. he is worth $100 million more
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than amazon's jeff bezos. now you are really number 2. yesterday as tesla pierced -- do you remember asking me and nearly going will tesla hit $1,000 today? this week, yesterday, musk is worth $288 billion and his main company tesla won $1 trillion or more than 9 figures but here's the butt, tesla shares 2% cars. the latest catalyst was the $4 billion, 10% of tesla's production. what it does, it gives tesla exposure, rent-a-car, test drive. stuart: i'm stunned by the numbers. >> the ceo of this time, a company people love and knows how to play it. stuart: let's get to facebook.
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they reported after the bell, they brushed off all those whistleblowers. >> this is the quote, they are swimming in controversy and profit so profits up 17%, revenue up 35%, despite the changes. they announced a $50 billion share buyback. the controversy is highlighted in the leaked internal documents and that is in testing results here. what documents do is paint a picture of facebook as our credibility problem, say one thing and do another. a stronger antitrust case. facebook says, $5 billion, that is half of what they are
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spending in the meta-verse. what happened to kids and teenagers. in the middle. stuart: facebook and tesla, those numbers below me away. my market guests of the day, blown away. this is a nice rally. on top of the rally yesterday, is this a melt up you were predicting? >> economic data looks good. the early read looks very strong. the only thing falling faster than president biden's approval rating are covid cases and that is bullish, strong reporting on financials last week with financials doing so well. that's not a sign of economy in decline but in expansion. watching facebook, 30% of the
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s&p. as tech goes so goes the markets, important to see how it goes. i will be watching google, amazon later this week but i tell you i'm very positive what we are seeing. buy the dips. any selling we see in this market you should get this excitement to get in but i have been saying this, the market is headed higher. stuart: hope you are right. thanks for being here. the top issue is education. lawrence jones is at a diner, a new education issue has emerged. i'm thinking charter schools. youngkin says yes. is that new in virginia? >> the same education theme but different issues in the
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education system emerge. former president barack obama hosted a rally for mcauliffe, former governor of the commonwealth of virginia and he said all of this stuff happening in education is part of the cultural war and we don't have time for this. a lot of parents rejected this. i have an opportunity to talk with an opponent of the former governor mcauliffe, youngkin. this is what he had to say. >> i'm not a politician and all of a sudden there's a moment for somebody who doesn't owe anybody anything. i'm not beholden to special interests. haven't made deals for 43 years. i do what is right for virginians and our platform is so straightforward. we will make sure schools teach children how to think, not what to think and make communities safe. these are the things virginians want and that i know i can get
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done. time for them to make a statement. not on behalf of virginia but the country. >> when i was going to bed last night a story broke in the daily caller from out of county, virginia for the center of this education spike. parents want to review the curriculum that is being talked to their students. they have to find a nondisclosure agreement before it is released a lot of folks say what do they have to hide? stuart: great stuff. see you again soon. let me get back to brian. you are a glutton for punishment. the president is going to virginia to support mcauliffe. will the president help mcauliffe? >> thinking poll numbers, how will he help mcauliffe? the president has no different
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message than mcauliffe, it is all about education. what is the present going to do, say our support school choice? he will be dismissive like everybody else. the same message and parents are saying are you kidding me? nondisclosure agreement, who to tell about how my kids are learning. stuart: thanks very much. quick look at futures. is this a melt up? not sure but we are going up record highs on the dow, the s&p, more gains this morning. migrants making their way through mexico towards the us border. it is a large and well-organized caravan. senator ted cruz is on the show later today. i still know what happens when those migrants arriving the texas border. he's going to tell me what happens at that point. the fda panel meets to consider the pfizer vaccine for children age 5 to 11. if they okay it will be mandated? should it be mandated?
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stuart: you are going to like this. we leave the show with money because we are a melt up situation. another hundred points of "the opening bell". show me moderna. what are they saying about their vaccine for kids? >> generally safe and induce the guys iron immune responses in children 6 to 11 and they submit those to health regulators the kids are the
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next frontier in the vaccination campaign. i want to put numbers on young children who died from covid. that number is 147. stuart: that is moderna. the fda considers pfizer's vaccine for children, doctor markcarry, if the fda approves this vaccine should there be a mandate? >> there's a lot of problems with mandates, the clinical trial in the deliberation is focusing on today, does not include natural immunity and it is anyone who had covid did not get the infection. no one hospitalized in the trial, it is a small trial, parents are right to say we see more data, if the kid has a comorbid condition it makes sense. of the kid is healthy we don't have good statistics and it is an individual choice. stuart: what is the difference
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between the covid vaccine and ones mandated for children like mmr, measles, mumps, rubella? >> some occurred at higher prevalence, diseases like measles are more contagious than covid and there's a threshold above which we say this is a vaccine preventable illness but this is an illness that may circulate population like a common cold, we don't know season to season how the vaccine will do, we don't know the prevalence of the infection. with covid we don't know what a post pandemic risk would be to kids. that is why we should not have mandates for vaccines in kids. stuart: know on vaccine mandates from doctor markcarry. some universities including johns hopkins are mandating the flu shot. what do you make of that? >> this is something new. we have always required flu shots for healthcare workers
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and maybe that makes sense but we have become very paternalistic. universities and employers need to ask when will they lose people and say this is something where the flu shot may work 20 or 30% of cases of the time and the flu virus is a low risk to the population of young people. there's a lot of vaccine fanaticism going on. we do not file like this in the past and we need to consider the risks and benefits which i don't think is being done. we are seeing institutions say let's mandate vaccines to show we are pro-vaccine. stuart: virtue signaling to some degree. vaccine fanaticism. thanks very much. you are a professor. what do you make of mandating in colleges? >> we say do smart things.
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if it makes sense to get a vaccine get it. if it doesn't, don't. we don't have to tell you what to do, you are thinking human being, practice self-governance. a lot of students to get it but why are we in position to do that? the flu shot, why are colleges saying you've got to get this? stuart: makes no sense to me. that is where i am coming from. beijing and the winter olympics. a policy from vaccinated visitors. >> unvaccinated can attend. there's an exemption, religious, medical, they have to quarantine for three weeks, 21 days, longer than that. stuart: for 21 days. >> before the games start. even if you are vaccinated you have to be tested daily and if you are vaccinated your
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movements will be restricted. >> if you get there 3 weeks early, you can't train or prepare for what you are doing so it says if you don't get vaccinated forget it. a b1 the whole idea vaccine mandates is up in the air. trouble is there is no offramp, no way of getting out of these mandates. president biden cannot retreat and they government workers don't have to get the vaccine. police officers don't, you can't retreat. lauren: the point is to pull the people so they did get the menu get as close to herd immunity as possible. that is to beijing. the chinese government who has a covid 0 policy help host to the winter olympics. if you're in quarantine. >> how do you practice? >> mentally i go crazy. do you do that by yourself?
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>> effectively you can't compete in beijing writing these rules? let's have a little transparency where the whole thing came from, tell us how athletes have live. this is absurd. stuart: a demonstration in new york city. they marched across the brooklyn bridge several thousand strong, city workers who said get off my back, we don't want these mandates. the city and many institutions will lose two, 3, 4% of their workers at a time of a worker shortage, that is real pain on a lot of people. lauren: vaccinated people, 50,000 new york city workers who have not been vaccinated and likely lose their jobs and their paychecks, that affect my ability to get services i need. stuart: it does indeed everywhere. there are the protests. several thousand marching through the city of new york.
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lauren: they are there to support freedom. the cool thing is bigger than the science, the masculine the vaccine mandate, down to freedom. stuart: let me check a melt up, looks like we have something similar, the dow will be up another hundred points after closing the record high yesterday. the s&p, record yesterday onward and upward today. one more check of tesla. down a little today but still worth $1 trillion and musk is worth $290 billion. "the opening bell" is next. ♪♪
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stuart: three minutes to "the opening bell," so is the na .sd , , d iri, dngke to n nig?igig eagsng engngndni and a on a yovr--yovs baes e gr thgr rate engarpengaks ak t seched echearr buter n'n'hey then'y ty cont uento gr t a t a ingsgsreomrerett prett
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goorodheor t trd quardrtrdrt rees aab ortageor thall t tllhe the maetma be ma bood t me in rlthis year, y a ntclauy ting early. stuart: santa claus rally a melt up, our constant increase going to new highs. >> the evaluation started at 10, goes to 15, then 20, 25. that is a melt up. the valuation of the melt up and earnings melt up is what we had since the middle of next year and that's a healthy development. stuart: will continue? >> i think so, earnings will continue. there is enough challenge between supply chain disruption and labor shortages but companies rise to the occasion,
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triggering workarounds and we see productivity which is great for profit margins and prices. stuart: what happens if the fed starts to tighten or indicate he's thinking of tightening. could the fed spoil the party in november? >> the fed has been at the party, filling up the punch ball with more punch, but that's part of it but the evaluation multiple is so high. i think the fed tapering, two to three, second to third debate meeting of the f1 see and will in fact not surprise any of us and if they raise interest rates for the next year by one or 2 times that won't surprise anybody either. people will have a paper tantrum and the market is
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looking at fundamentals which remain surprisingly good. stuart: hope you are right. you have been right before and hope you are right now and the market keeps going up. you and many of our analysts have been saying. 20 seconds to go. i'm not going to call it a melt up but i will call it a continuing rally. we keep on hitting, up 38 or 39. >> senator manchin sees a high probability congress will approve the bipartisan infrastructure build. that is a factor. stuart: manchin says congress will approve the infrastructure program, one.5 is good. got that. the spending bill which was originally $3.5 trillion, is one.5, is good. got all that.
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we got something from the political world and it is not hurting the stock market. the dow is up 80 points. a majority of the dow 30 in the green. the s&p opening to the upside after a record day yesterday, a third of one% in the nasdaq should be up stronger, a full half percentage point, getting close to an all-time high and tesla up again this morning, premarket it was down a bit and now it is up a bit at $1,031. musk is worth close to $300 billion in the company is worth $1 trillion. some companies reported earnings before the bill. >> there was concern, revenue up 9%, profit is up 23%. this is more than 3 month-the stock price. stuart: general electric used to be a grandfather's stock, a
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10% reverse split. what were the earnings? >> supply chain problems are companywide. >> different sourcing and alternate ports. air travel is recovering is still down 23%. >> a big-name defense contractor, lockheed martin is down 8.5%. >> for this year and next year. next year's revenue could fall to $6.6 billion. they are having issues getting parts that they need. researching hypersonic weapons they testfired 2 times recently. we don't want the supply chain.
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stuart: it is hitting it. big tech, big day, after the bell. google, what are we expecting? >> most of that from services, 5 billion, here's the big problem. they cut their apps fees. stuart: microsoft close to an all-time high. it is half a percentage point. >> watch for what they say. i try to help you see. laptop sales in the x box sales expected to be down. stuart: what will i be doing at 4:05:00 pm today.
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>> another record high. and rubbing it in. stuart: does twitter report today? >> they do. after the bell. the key takeaways can they monetize and expected to come in at $211 million. i want to know what management says about trump's social, twitter competitor. stuart: that is attracting interest. coin base, city is saying they have a long way to run. they expect coin base to go up. lauren: a 20% gain from here, $215. they called coin base a general store for crypto currency, offers direct exposure to investors, increase retail institutional adoption, good for the entire space, more opportunity so instead of just being in exchange, they paid debit cards and a few which.base is getting into. the city notice pretty bullish.
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stuart: the stock market. are you familiar with anita. there is no alternative. >> she is great. >> that is accurate. >> and and but it is all good. and awash in the economy. stuart: to draft kings, their way up this morning. and sports gaming.
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>> and draft kings investors, from mgm earlier. that we can organically grow. >> let's summarize the ball of wax here. and and ups great earnings report. they are $231 a share. and jeff bezos trying to catch elon musk. and that is a good list to have. they are at through the 3835, the 10 year treasury yield is
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down one.36%. and putting gold on the screen. 62,$000 per coin. >> that is a little beyond what they render the portfolio. i will say the coin base thing is pretty interesting to me. to play in that space in many ways. they have a corner on that market. stuart: let me move to all-wheel very much in the news with energy price inflation, $83 a barrel. natural gas, approaching $6 backed up to 569 and the national average for a gallon of gasoline holds at $3.30.
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now this was less then half the population has been fully vaccinated. governor aishah johnson says mandates are increasing vaccine hesitancy. we are a week away from the election. we will ask if education if education is the top issue for republicans in 2022. more varney coming at you. ♪♪
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stuart: mark zuckerberg slamming leaked facebook document the revealed dissent over the site's policies. >> criticism helps us get better. what we are seeing is a
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coordinated, with a picture of the company. the reality is we have an open culture with research and make progress on many things that are not specific to discuss. stuart: zuckerberg is fighting back. you have written extensively on the subject. facebook is being attacked from the left and the right. we heard all the analysis. tell me what legislation would fix the problem. >> section 230 reform. the biggest problem with social media platforms the deal with the government is working hand in government to effectuate censorship and i worry a lot of the discussion we are seeing in the face of leaked documents will make that problem worse to demand and empower facebook to censor political speech working
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with the government in power. the right answer is to say section 230 needs to be appended into an opt in the statute, you get to be a private company and get to decide what does or doesn't show up on your website and get to be a private company that operates with a special form of governmental immunity, that comes with strings attached, the constitution and first amendment to the constitution still apply and they are treated as say -- state actors. the second on the list is a conversation as well about looking whether there is an age cut off to use social media companies. we have addictive cigarette you can't use until age 18. if you are an adult you get to do that. i am coming around to being in favor of 16, 17, 18, below which addictive social media usage is off the table and as adults - kids we treat differently.
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stuart: addictive social media behavior. that is the key, isn't it? what do you call addictive social media behavior? kids passing pictures around to each other, altering pictures, comparing body shapes? you can't ban that. stuart: you can't ban the idea of sharing pictures, people have been sharing magazines were a long time but there are platforms using algorithms to pray on fundamental insecurities, fundamental views of envy, forms of life that don't exist in the real world but exist online which relate to seen body issues. personally i don't think a is like facebook and other social media comedy should be held accountable for that. the real solution lies upstream in the society itself and facebook and other social media platforms amplify cultural issues that on the other hand we ought to treat children differently than full grown adults. adults are to be able to make those trade-offs. you can decide whether to smoke a cigarette or not, or whether to use social media companies and face psychological companies, as that is what you
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make those decisions. stuart: the age requirement and repeal 230 or whatever it is you repeal or change, would facebook still be as profitable as it is today? >> i don't think it would be as profitable as it is today. i think it would create the conditions for greater competition for somebody to stand up to facebook on section 230 reform. it would be better for societal fabric as a whole, fully formed adults before they are subject to the forces of algorithmic social media interference but at the end of the they might be less profitable as a consequence but that will be good for society as a whole. stuart: thank you for direct answers. you were listening to this. >> he's right on the issue of misinformation and censorship. a lot of what we are talking about is a trojan horse to
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elevate that conversation, facebook shouldn't allow people to share certain things. my concern is that is what will be used with congress and we will end up not helping kids out that much but keep adults from sharing their opinions. stuart: that is not right. adults from sharing their opinion, that's not good. >> this really, look at who is behind this leak right now. this is a censorship, we are to believe it is about kids. this is more about censorship. stuart: the market is reacting with a downside move to facebook, 326. kathy would, the famous kathy would of fund management fame is refuting jack dorsey's claim that hyperinflation is here. >> i'm right, you're wrong, we will see after christmas. in her words. stuart: that is good.
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>> i will do so anyway. this is what she says. in 2008-9 when the fed started quantitative easing i thought inflation would take off. i was wrong. velocity, the rate at which money turns over per year declined taking away the sting. in english. artificial intelligence makes things cheaper, labor and materials. also stockpiling of companies trying to get what they need will lead to more. this leads to a disinflation area environment. stuart: i can see that. very much in the news all the time. >> he makes radical assessment a lot of the time. >> she things consumers think inflation will go down and that will drive down spending to bring inflation down. she's way off of where the consumer is. stuart: back to the vaccine mandate story. thousands of new york police officers, firefighters marched
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over the brooklyn bridge, blocked traffic, protesting the mayor's mandate. kilmeade will take that on shortly. 46 students in california chose to unmask with the support of some teachers. it was called no mandate monday. looks like a revolt and those kids want it to spread. we have a story for you. ♪♪ ♪♪ that's great, carl. but we need something better. that's easily adjustable has no penalties or advisory fee. and we can monitor to see that we're on track. like schwab intelligent income. schwab! introducing schwab intelligent income. a simple, modern way to pay yourself from your portfolio. oh, that's cool... i mean, we don't have that. schwab.
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>> teachers and students went completely massless in class protesting the mask requirements, they call it no mandate monday. it is dangerous and undermines the mask mandate. >> they look at it in a moment, they go to school without masks. i'm in. stuart: what do you think? >> this is in california. one of the teachers who decided to go maskless is being investigated. time and money going after a
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teacher who wants to use his facial expressions to teach his children. i understand completely why there is a mask mandate in both of my children school. when there is a covid case in there has been they of not been sent home. stuart: a related story. schools will let parents view the curriculum inspired by crt become review the curriculum if they signed a document like a nondisclosure agreement. >> if someone is making you sign an nda to see her kids curriculum, obviously the case they know it can't stand out.
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>> the situation got bigger and more -- that is how i see it. stuart: that will not work. >> this is why youngkin is making a comeback. choice, let me see, let me choose. that's the american way. >> who would've thought that would be the deciding factor less than a week from today. it is about putting power in the hands of parents. it is a good thing parents care about their kids. >> i said to remind everybody senator manchin said he is okay with $1.5 trillion for the mammoth spending plan and okay with the $1.2 trillion infrastructure plan. it is probably something of a
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positive for the market this morning. i will thank brian for being with me. you at a lot of life today and sorry if i said anita. >> say anything you want. stuart: don't care what they say. big show still ahead. senator ted cruz and brian kilmeade and president biden will attend the big climate summit in glasgow, scotland. i say he is in trouble already and his team is in crisis mode. my take on that coming up. quick check of the big board, that is a rally and another new high for the dow industrials. ♪♪ ♪♪ and became a new tradition. this is financial security.
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(rhythmic electro rock music) (crowd cheering) - bito, bito, bito, bito! - [announcer] bito, the first u.s. bitcoin-linked etf. [explosion] stuart: yeah, you can tell from the camera all glossed over there with rain drops it's a miserable day in new york city. we're in the middle of a nor'easter. he have wind, every rain, we might get five inches of rain in new york city today. stay safe, everybody. 10:00 eastern, straight to money. look at this, we're up tick yet again especially the nasdaq.
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a strong gain yesterday. another strong gain today. you're up nearly 100 points there, the dow setting another new high reaching 35,800. price of oil down just a fraction, $83 a barrel. the 10-year treasury yield still right around 1.6%. bitcoin, we not quoted that as often as we should this morning it is at $62,000. we have new numbers coming in on the economy. first up consumer confidence. lauren what do we have? lauren: october, rose to 113.8. that is the first increase in four months. fell august, september, feeling more confident, up to 113.8 in august, in october, apologies. stuart: that that is a good num, seemed to have helped the market. not very much but maybe. most important number, we have that too, new, repeat new home sales. lauren: strong numbers. for the month of september increasing 14% to 800,000 units
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sold on an annual basis, the average price, $451,700. the median price almost $409,000. stuart: let me repeat that. new home sales up 14% to an average, to an annual rate of 800,000 new homes sold. that is an enormous number. the average price as opposed to median, 451,700. lauren: i know. your eyes just gloss over. when we had the 2006 high, when the housing market was taking off back in january, that number was 993,000. now we came in at 800,000. we're moving back up in that direction. looks like the price tag will keep going up with these shortages. stuart: good stuff. now this. the gubernatorial election in virginia is fascinating. from out of the blue education has emerged as the key issue. that's unusual in a statewide
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election. jobs, economy usually dominate. but this time around angry suburban parents turned this election on its head. the latest poll from emerson shows a dead-heat with democrat mcauliffe and republican youngkin at 49%. mcauliffe was up a full five points just a couple weeks ago. this is the most important issue. it is education. that is why youngkin is moving up. we shouldn't be surprised. after wrecking so many public schools during the pandemic, the teachers union tried pushing divisive critical race theory just as kids came back to the classroom. democrat mcauliffe approves of crt. youngkin says he would ban it. here is another point on education that is being glossed over. that is charter schools. mcauliffe along with the teachers union and the whole biden team say no charters, no to parental choice. no wonder suburban parents are angry. they have been told to shut up.
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mcauliffe says they have no role what their children should be taught. if they protest too strongly, whoa, they are domestic terrorists. glenn youngkin is all in with charters and making headway. democratic leaders who campaign in virginia seem absolutely tone deaf. former president obama, vice president harris, georgia's stacy abrams they talked up voting rights and talked about trump, failing to understand on education they are on the wrong side of history. we won't bring the country together with divisive race-based education. we won't rebuild education without charter schools and parental choice. glenn youngkin is channeling the outrage so many people feel towards our dysfunctional and wildly expensive public schools. he is pointing the way for all republicans in 2022. second hour of "varney" just warming up.
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♪. stuart: ronna mcdaniel with us this morning that is the rnc chair. ronna, are you going to take education as the big issue into next year's elections for the republicans, 2022? >> well i'm very passionate about this, stuart, because i'm a mom of kids in public school and during the pandemic my kids were virtual and it was a nightmare. to say to parents like me that i don't have a say in my kids' education, balancing work, zoom classes, watching my son take voter ceramics, let me tell you i have a say in my kids' education, when politicians shut my kids out of classroom and your kids out of classroom and shut down private schools, we know they failed us. especially when parents were on the front lines of the pandemic, getting their kids educated,
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fighting for their kids every step of the way. stuart: do you think all republican candidates will pick up on this next year? >> i think so. i think we know that suburban women and men are really looking at this issue. as crt is being injected in the schools, as parents voice are being diminished, school boards have outsized control and democrat politicians are more interested in the teachers union than the parents, i think everybody should look at this as a key issue heading into 2022, because parents really suffered during the pandemic. it is not over. there are mental health issues we're dealing with. backlogged with the education lost during the pandemic especially in democrat states when kids were kept out of the classroom. republican states didn't do that. republican states kept kids in the classroom. that is why we're seeing this divide. democrats are doubling down, doubling down on the rhetoric. mcauliffe has not pulled back from saying parents shouldn't have a say in their kids
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education. that is deeply offensive. new jersey gubernatorial race in the final days. that is also fairly close. democrats, governor murphy, he is six points ahead of his challenger but that is just outside of the range, the margin of error. it is not all together over by any means that race seems to be all about taxes. what do you say to that? >> new jersey is like the highest taxed state in the country. it's crazy. i think more new jerseyians may more taxes in their lifetime than any state in the country. i was in new jersey with the candidate for governor, jack ciattarelli. this is a raise tightening. early voting just started. momentum does matter. the momentum is on jack chit at that really's side in new jersey. stuart: if the republican won in new jersey, the republican won
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in virginia, that is a sea change bordering on a revolution, do you agree with that? >> yeah. i would be doing a big happy dance but you know who would be happier? the voters of those states. we are seeing the voters really push back on democrats as inflation is rising, our national security issues, our border is out of control. as education has been taken over by unions and not focused on the kids. i mean on every single issue democrats are failing the american people right now and it is time for every voter to step up to make that change and vote for republicans, not just in virginia and new jersey but in the midterms in 2022 if we ever are going to stop what they're doing in our country. stuart: ronna, we live in new jersey. i appreciate where you're coming from. >> i'm sorry. stuart: thanks very much for being with us. >> i love new jersey. i'm sorry about your governor. take that. thanks, ronna. go back to the markets. we have green across the screen, especially that nasdaq going up 112 points as we speak. luke lloyd with us today for our
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market coverage. people have money to spend. there is plenty of money in the bank accounts but will the supply chain crisis allow enough product to be on the store shelves this christmas? are we heading for a real supply klain chain cries kiss what people can spend their money on? >> stu the supply chain issue will get worse into the end of the year. it will get worse before it gets better. maybe start to normalize in 2022. you have to think when is the strongest demand for goods and services during the year? it is during the holiday season. people are out shopping and spending their money. what you're buying, likely it is more expensive and there is likely to be a delay. whatever you're buying this holiday season, get to it now as soon as possible. get to the end. year, santa's toy shop are likely out of toys. if there are supply issues i don't think the santa rally will be as strong this year. stuart: so we might -- i think we have got a rally already.
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i guess you can't call this one a santa claus rally because we're still couple months away from christmas. >> we're not into thanksgiving yet. we're not into halloween yet, stu. stuart: that's very true but as you say if the supply chain crisis is really a serious thing, it is serious already, if it gets worse, won't that affect the stock market? not that we won't get a santa claus rally, we might get a selloff. is that possible? >> it will definitely affect the stock market i think in 2022. not necessarily by the end of the year. we might not get the santa claus rally but i also don't think we'll see a big, huge selloff by the end of the year either. if you look towards earnings, they look good so far. that is reflect the reflected in the stock market, that is why earnings have been good so far. behind the scenes companies are talking about supply chain issues even if they beat on earnings. people don't have a problem spending money during the
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holiday season even if they don't necessarily have the money. in the past year-and-a-half people got the 20% bump through the stimulus. a lot of that money is spent already or will be spent but a lot of people don't save and spend money after the holiday season. i think quarter one and quarter 2 of 2022 could be the most important quarters we've ever seen in the last decade. stuart: reminds me of joe walsh, life has been good to me sofar. >> i like that song, stu. stuart: so do i. my maserati does 185, i lost my license. now i don't drive. good one. crazy show this morning. lauren: really has. stuart: it's fun. hasbro up 5%. what are they doing right? lauren: no more price increases this year. whatever the price parents see for the toy is what it will cost you. the supply chain in an issue. they lost $100 million in sales in the third quarter and will take a hit but prices are not going on. stuart: amazon and --
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lauren: amazon teaming up to use amazon's planned internet 3200 satellites to beam internet to rural areas using verizon cell towers which are on land. land and low earth orbit link up. everybody gets internet in the future. stuart: huge gain for amazon. a company that size goes up 2 1/2%, something is going on. lauren: earnings on thursday. andy jassy's first report. stuart: nvidia, record high? lauren: news piper sandler increased the plies target to 260. they're at 248. they like chips are used for video games. stuart: nvidia has been on a strong role. lauren: the the board we're squinting at. stuart: heavy rains, strong winds pounding california a-bomb cyclone brings massive flooding
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and landslides. we have got the fox weather report for you. foreign travel will be allowed to visit the united states as long as they comply with the president's strict protocols. less than half of arkansas's population has been fully vaccinated. the governor says vaccine mandates are making people hesitant. the governor is on the show. next.
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stuart: green across the board especially that nasdaq. it was up what, 130 yesterday. it is up 140 today.
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15,300 is where it as at. look at tesla. started trading this morning virtually unchanged or down slightly. now it is picking up momentum. look at it go. look at $1073. i believe musk is now worth $300 billion. got it. at&t and ford, check them out please, they are teaming up to bring 5g to f-150 lightning production. look at that, ford has reached $16 a share. there is this, only 47% of the population of arkansas has been fully vaccinated. the state's governor is asa hutchinson is the state's governor. he joins us now. governor, why won't you impose a mandate on state workers? >> first of all our goal is to increase vaccination rates. we believe the best way to do that is through education and experience. when i say experience, it is about seeing our neighbors who have not been vaccinated that go
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to the hospital, have serious illness because of covid. right now among our state employees without any mandate we're at 67% vaccination rate and that is as high as california where they have a vaccine mandate among their state employees that they're not doing a good job of implementing and so we think we have the right approach. the key on mandates is, government doesn't need to be in the business of mandating right now under this current environment. employers should have their own decision. we shouldn't be prohibiting them. we shouldn't be requiring them. that's the way of business and it is the best way for our employers to operate. stuart: you don't want to lose valuable state workers, do you? because if you had a mandate you would lose some? >> actually, no question about it. we would lose them to private sector which does not have mandates in most of their environment. they have their own decision-making capability based upon the needs of their
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industry. and so, yes we would lose valuable workers if we put the mandate in, but it would increase resistance across the board throughout the state. so we were making great progress until the mandate debate began. that slowed our progress on vaccination. stuart: there is no off-ramp for a mandate, is there? once you impose the mandate you can't back off to say i'm having second thoughts, you can't do that, can you? >> right. you get an enforcement problem too, just like california. they have all of these mandates in place but they don't have really the ability to carry that out. and so you know, when ever you look at the federal mandate that is coming through osha, you're going to have lawsuits. it is going to in some states probably will delay those mandates be put into place. but the controversy will continue, and that will increase resistance and cause us additional problems. stuart: arkansas, staying out of it. ace that hutchison, governor,
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thank you for being with us as always. >> thank you, sir. stuart: foreign travelers will be allowed to come into america but there will be strict protocols in place. grady trimble at o'hare international. grade i did, run us through, what will be required for foreign travelers and americans returning? reporter: different sets of rules for those vaccinated for those who are not vaccinated. foreign travels coming into the u.s. who are not vaccinated most cases simply won't be allowed in with a few exceptions for children and people coming from places with low vaccine availability as well as people with medical exemptions but these are the rules for those who are vaccinated. you have got to show proof of it and you have to get a negative covid test within three days of departure. you will also have to wear a mask while traveling. for vaccinated americans the rules stay the same, which is a negative covid test within three days of returning to the united states but for those who are
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unvaccinated the rules get a little bit stricter. you have to get the negative test within 24 hours of coming back into the united states. the u.s. travel association, they have been pushing for this for some time. they tell us they have continuously advocated for the safe reopening of our borders. we are grateful this additional detail has been made available as we move to reopening to fully vaccinated international travel. one final note that i find interesting is that in many ways the airlines will be the police of those who are vaccinated. they will have to check for those vaccine cards and have to make sure they are legitimate. they will have to keep contact information for people traveling for contact tracing purposes. a whole new world in terms of international air travel, stu. stuart: whole new world. grady, thanks very much indeed, spelling it out. moderna is developing a combination of covid boosters and flu vaccines together. there is a new trial going on apparently. lauren, did the chairman of the board, the chairman of moderna have something to say about
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this? lauren: a one-stop shop essentially making it more con haven't for people getting shot for covid-19 and seasonal flu. here is he on maria. >> we will likely combine these the seasonal vaccine of the future might be combination of mrna for covid-19 as well as for seasonal flu, whatever version of covid is being, is attacking us at that time. lauren: great if you are willing to to take that shot. that means a lot of people don't get the flu shot because it doesn't always work. a lot of people are opposed to getting the covid vaccination. might be very undesirable. stuart: here comes the annual shot. got it. he is a furniture store owner. he is known as a big time gambler. he goes by the name of mattress jack. he could win a record 3million dollars if the astros win the world series. what does he know that we don't? i will ask him. mattress jack is on the show at the 11:00 hour. as more companies offer flexible
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stuart: look at that nasdaq go. now it is up another 140 points. the dow is up 130 points. it is another rally, folks. lauren has been looking at all the movers, the stocks which are really moving up or down. we're looking at ups up 7%. lauren: wow, even more than it was when i just checked. ceo said we'll not be overwhelmed by volume this year. they will do package control. when they say your item will arrive, it will. it is chaos when you get close to the holidays. stuart: bring me up to date with facebook. they reported yesterday. very much in the news. i see them down. lauren: the stock is down. they got an up grade to buy at rosen blatt. they say the call last night. the the earnings conference call was a reset for the stock. a lot of issues facing facebook, regulatory safety, you name it. they did get an upgrade today,
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400-dollar price target from rosenblatt. i'm surprised not moving stock more. stuart: lockheed martin is down, why? lauren: $10 billion wiped out from the market cap. the stock is down, compare competitors down 2% for l3 harris and northrop grumman. stuart: what is the problem? lauren: lockheed martin a very muted outlook for their spending. they're having issues getting some of the parts they need. they are our biggest contractor, arms maker, weapons maker, contractor in the country. if the supply chain is impacting weapons makers to get what they need that is concerning for a lot of people. waiting on the call to see exactly where those shortages are being felt. stuart: that is national security over and above the question of money in the stock price. lauren: yes, absolutly. stuart: thanks so much, lauren. this, elon musk's fortune surged $36 billion in one day. he is now worth approximately,
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it says 289 million right there but tesla's stock is up some more today. musk is now worth $300 billion. scott shellady is with us. i'm dying to see what scott shellady will say about the 300 billion-dollar man. there is an awful lot of people who say he should be paying a lot of tax, take it off him. a lot of people will say that like it or not, scott. >> well you're exactly right, stuart, and more people today are going to be saying that then there would have been when i was growing up. my america when we were growing up, we want to know what he was doing to make that money or follow his train of thought or read his books. people like him are vilified. there is no more american exceptionalism. we want diversity, i get that, we want diversity when it comes to operations. we don't like diversity when it comes to out put. they don't want a different output as well.
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they want the output to be the same. diverse is a great thing but we need a diversity of output. people like him will succeed and we shouldn't penalize him for it. what we're dreaming up is totally unconstitutional, we'll steal some of his wealth every year if it gets through congress, on yearly basis tries to get percentage as well, whether he realized those gains or not. i never heard anything more ludicrous in my life and mean-spirited. i told you on the show i went to london in 1990. i had some of my friends get angry about a guy getting a ferrari, i had no attitude at all whatsoever. it was surprising to me. but that is how europeans look. they're angry at success. americans are not jealous find out to strive what he did for a living a and emulate him. stuart: jealously is the fundamental motivator of socialism. you have got more than me. i want it. i'm taking it. i know socialists.
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i was brought up with them. jealousy is the key to their whole out look. i turn it around to go back where we were. recognize the great stuff a man like musk has done. build the world's premier car company, a tunneling company, a private space company. he has done all of that. oh, he is a terrible guy, we have to take it off him. last word to you. >> what they have done to jpmorgan, rockefeller and vanderbilt. think about it. that is the problem, stuart. this country turned winning into a four-letter word. we don't want any winners. there might be losers. oh, my gosh, that would be horrible. that is the problem. we don't want winners anymore. everybody has to have the same outcome. nobody to strive to do any better. pay you all to stay at home. we don't want citizens anymore, stuart. we want subjects. that is the problem. stuart: exactly right. scott, always great to have you on the show. we figure out your new outfit and like your point of view. all good stuff, man. >> all righty. see ya.
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stuart: working from home, that has created a surge of sales of second homes. madison alworth is in naples, florida. south florida, yeah, it is a hot spot right now. madison, naples is a very expensive place to buy a second home. you know that. reporter: yes. i mean, yeah it is super expensive but that is not stopping people. this home i'm in right now, stuart, 5.9 million. the average home for sale in naples goes between 1 to 2 million. so less than this, but still pretty pricey. it is attracting second homebuyers. across the united states you're really seeing that group increase. 60% of buyers are those second homebuyers. i'm here with michelle who is working in this market over 20 years. michelle, tell me, you've been here. seeing buyers across the years. what are you noticing when it comes to second homebuyers in naples? >> so buyers are falling in love with our high quality lifestyle, our beautiful weather and our
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excellent amenities. >> reporter: why are they choosing this. east coast has been popular. why is the west coast a popular destination for the second home? >> the west coast offers lower density, less traffic, sunsets on the beach. the weather here year-round is absolutely gorgeous. in the winter time, 80s as highs and lows and year-round we -- reporter: gorgeous weather. i used to live in tampa. the sunsets on the beach is the real deal. we're not alone here in naples. sales have gone way up. this lime last year 9,000 homes sold. this year already over 15,000 sold, stuart. stuart: we hear you from naples, florida, thank you very much. a quick programing note. don't forget to tune into fox business prime tonight. all new episodes of "american dream home" and "mansion global" starting at 8:00 p.m. eastern on fox business. we've shown you videos of brazen robbers in broad daylight
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in california. crime has gotten so bad in san francisco that families are hiring private security to patrol their neighborhoods. california guy larry elder takes that on next hour. thousands of migrants continue to their march to the u.s., texas troopers find 30 migrants crammed inside of a train car. bill melugin has the report next. ♪ ♪ ♪ ♪ ♪ ♪
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♪ stuart: biden's tax and spending spree, good graphic. the democrats are signaling a deal may be close on that massive spending bill. all right, let's get straight at it, lauren. what is senator manchin saying? lauren: so on the spending bill he is saying that he is, he thinks that both infrastructure bills, the hard and the social infrastructure bill are passing. stuart: $1.2 billion deal, he is okay with that? lauren: he is okay with that.
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stuart: the gigantic 3 1/2 trillion dollar one, he says he is down to 1 1/2 trillion, right? he is okay with that, 1 1/2 trillion. lauren: that was his top line. we thought he would go higher to 1.75 trillion. but looks like 1.5. stuart: 1.5. okay. what about the wealth tax, billionaires tax. lauren: he is open to it. this kind of surprised me. let's hear him in his own words now. >> i'm open to any type of thing that makes people pay don't pay now. people don't report income like you and i do, earned income, there has to be a way to pay their fair share. lauren: this is a way around because krysten sinema said my red line is raising taxes. they have to find a way to pay for all of their spending. we've been talking about this wealth tax, this billionaires tax for a while. how does it work? it puts an annual tax on unrealized capital gain with people more than a billion in assets or $100 million in income. here are the problems, how do you implement this? stuart: right. lauren: it shifts wealth away
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from assets easy to track. for instance we can see the stock market fall as repercussion in billionaires pull their holdings. the other issue is the compliance. you have to give the irs more money to sift through bank accounts to track this. stuart: but there is also the fact that they're trying to tax wealth as opposed to mc. that is whole new form of taxation. lauren: we've been talking about this for a really long time, for years. with a moderate democrat saying he is open to it, it seems like we could be at the point where this is actually how they pay for their social spending. stuart: only time will tell. okay. lauren: that is how it seems, right? stuart: to me it is legalized theft but that is another story entirely. let's bring in jason chaffetz. i don't know whether he thinks it is legalized theft or not. i want to ask you about the deal. 1.5 trillion, manchin is okay for the big social spending bit, 1.2 trillion for the infrastructure deal. he is okay with that do you think we'll get a deal by thursday? >> i don't think we'll get one
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by thursday. nancy pelosi and chuck schumer i know will take this up until about the third week in december when america is not paying attention but this is not a new position for senator manchin. he laid this out in a leaked, a lot of people think he leaked it himself memo that manchin put out in july. he said i'm not going above 1.5 trillion. what is scary though the content of these provisions. the wealth tax, i do believe is just, i think it is morally wrong. i think it is fundamentally wrong. it is a confiscation tax. its the way i feel about the death tax. because you die in america doesn't mean the government should be taking part of it. manchin had a qualifier in there in the clip that you paid, he said on earned income. they want to tax supposedly unearned or unrealized capital gains. and i just don't think that is palatable. i think in principle it is fundamentally wrong and i don't know that they can get that
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passed. nor should they. i hope they never even consider it but i think that is where they're trying to go. stuart: you said, speaker pelosi and senator schumer may spin this thing out until december so no deal by this thursday but that would mean the president biden goes to the glascow climate summit with nothing in his back pocket. he has no green measures in his back pocket to show the world if they delay beyond thursday, friday. >> that's true. look, china and russia aren't going to be there anyway. they have already said they're going to get back into the paris climate accord. they can do things unilaterally through executive order they will try to tout and to spin but i think they're going to try to go back and basically apologize for america which is what they have tended to do. i also think it is ironic that they're trying to get the production of oil and gas up. they're also going to start
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feeling the ramifications of that deal that they did by allowing russia to now control more of those energy assets and russia supposedly is in the driver's seat now to be able to manipulate the market such that they can inflict pain on europe and go ahead to try to explain that, joe. stuart: here comes another crisis. jason, thanks for joining us. always a pleasure. see you soon. former vice president mike pence he will deliver an address in loudon county. he will do it on thursday. i'm guessing he focuses on education. lauren: less than a week before virginia votes for governor in a race that has been largely defined by education and parents rights. vice president speech, ground zero of this debate is on educational freedom. he has referred in the past to critical race theory as state-sponsored racism, teaching kids to be ashamed of the color of their skin. we know where republicans and conservatives stand on critical race theory and education in
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schools but are independents and start democrats starting to agree with the republican viewpoint? for suburban voters for a big way pulled after president trump after january 6th attack on the capitol, will they come back to the party if you will? many of them voted democratic because they didn't trump. do they go back to the republican party? stuart: jeff bezos launched bill shatner into space. now bezos wants to build his own tourism space station. we've got the story. new york police officers, firefighters, other city employees took to the streets to protest the city's vaccine mandates. thousands of officers are expected to walk off the job over that mandate. brian kilmeade looks at the page of the vaccine mandate after this. ♪.
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stuart: if you're joining us on the radio, i will tell you this, the rally continues. the dow industrials are at 35,800 and there is a very significant rally in the nasdaq. it's up another 1%, 15,300 is the level there.
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stock of the day, week, month, call it what you like, tesla, no question. it is now up another $70. another 6%. tesla is worth $1.1 trillion and elon musk is worth 300 billion. quickly, digital world acquisition, trump spac, reversal today. it was up nearly 10% premarket. it is down 20% at 66. here we go, it is 10:51 that means brian kilmeade joins us. brian, new york city, could lose, could lose, what 16,000 police officers or nypd employees this friday when the vaccine mandate takes effect. can the city afford to lose any police officers right now? >> no. but do they care? don't seem to care. what happened with the teachers? how many teachers are actually out? we don't even know that number. how about medical workers? we don't even know that number. what about the now firefighters in new york city and police officers? we saw yesterday as they
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assembled in new york city and kind of blocked the brooklyn bridge as they crossed it about 11:45 as your show was wrapping up yesterday, saw those numbers. a lot of people are vaccinated. they are against the mandates. this is a totally self-inflicted wound. almost 70 to 85% are vaccinated. they're going for 100%. that is disrespectful. it is not practical. has anyone thought about what happens if they don't succeed? stuart: this is the pain of the vaccine mandate. a certain proportion of your workers, many of whom are absolutely vital to your operation will leave. you cannot replace them in a labor shortage. the problem with these mandates, there is no off-ramp. there is no saying we made a mistake, we've gone too far. we're backing off. you can't say that. >> they might have to. they have to, if you're going to already take a police force that is already men down, we're already numbers down, same thing in chicago, already numbers down. in seattle, numbers way down.
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they have a whole bunch just quit, said i'm not getting the vaccine. you know what is interesting last night? i had the firefighters union president on. he says yeah i'm vaccinated. 70% of my guys are more likely vaccinated and no one cared about our health when the pandemic was happening. no one said what about the tests, this is the protocol, no, keep going, keep going. feel bad, stay home, get back as quick as you can. we were essential workers. you care about your health so much you will mandate take care of ourselves up to how you think we should. instead of flooding the area to give people option of tests or antibody tests for natural immunity. stuart: i want to bring up the subject of the boston celtics player, censured, enes kanter. tweeted photos of the shoe, xi xinping, communist party. someone has to teach you a
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lesson. i won't apologize for telling the truth. you can't buy me. can't scare me. can't silence me. hit it. enes kanter seems to have the courage, nba lacks on china. >> they are befuddled. brad stevens said i will support. i will support my players and activism. the league has gone radio silent. they don't know haw to handle it. how can you spray black lives matter on the court but chinese lives don't matter or tibet 10 lives don't matter or harvest organs, where are the sneakers they make, that doesn't matter. the league says that is my cash cow, we need international broadcast, and buy my jerseys pay for the broadcast rights. at the same time you know in your heart he is 100% right. who is he enes kanter? a very good center-forward who played on multiple teams because he is a positive force. yet he is from turkey.
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critical of erdogan the president. because of that they basically put his family on house arrest. they said if he comes they will either kill him or jail him. so he is not allowed to go. he is not even secure leaving the country. instead of knuckling under he spread it out. that's right, i'm calling out china. remember, it was a general manager in houston that retweeted free hong kong or something to that suffice, got china to say we're no longer airing nba games in that country. basically got the nba to apologize. where is lebron james? he is calling on lebron james and nike to speak out against slave labor. wow. stuart: brian, shaking my head, i don't know how you do it. you do a three-hour show on tv with "fox & friends." you do a three-hour show on the radio. tonight you're going to do another hour at 7:00 eastern on "fox news prime time." how do you do it? i know you're a young guy with plenty of energy. i take my hat off to you, brian. >> thanks. basically it's a big gym.
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any way we can help out, you feel the same way as me. you have your show on monday night. you help out anyway you can. you feel honored to be asked. need at 7:00 i will do it. i give up hobbies. i can't play tag in the park. pickup softball oar basketball games. stuart: don't play the victim, buy ann. you're hogging airtime of everybody. >> family or work. that's it. stuart: got it. brian, see you next week. probably tonight as well. >> have you told everyone you're wearing jeans? stuart: no. i think they realize. thanks, brian. still ahead texas senator ted cruz he is on the show. larry elder is back. florida congressman brian mast. the biden team is in crisis mode again. the president heads to glascow for the big climate summit this weekend. his team is in crisis. that's my opinion and that's "my take" next.
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>> stuff that is being taught to their students they have to sign a nondisclosure agreement before that is released. they are saying what do i have to hide? >> i have a say in my kids education. when politicians are shutting my child out of the classroom they are more interested in the teachers union than the parents i think everybody should be in the issue heading into 2022.
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>> leaving falling faster than president biden's approval rating are covid cases. that's not a sign of an economy in decline but an expansion. >> whatever you are buying i would get to as soon as possible. at the end of the year santa app store shop will be out of toys. >> ♪♪ going to wish i had a little something ♪♪ stuart: 11:00 eastern, tuesday october 26th follow long, straight to the markets. the rally continues. a series of new highs yesterday continuing today. look at the nasdaq up 130 points, dow is up 120, the dow is at 35,871. the yield on the 10 year treasury moving up a bit but only a one.64%. bitcoin, not seen much action in bitcoin today hovering around 61-9, 62,$000 per coin. now this.
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president biden will attend the climate summit in glasgow this weekend. he is already in trouble. his team is in crisis mode. the president wanted to go to glasgow with an emissions cutting program in his back pocket, something to show the world look what we are doing. joe manchin vetoed that program. he says no to the $150 billion plaintiff of utility switch from fossil fuels like coal. senator manchin is from coal country, west virginia. and the president's team is sharp disagreement how to handle china. climate czar john kerry wants to concentrate on climate. security adviser jake sullivan wants to bring taiwan, hong kong and human rights into the negotiations. xi jinping will not be there to negotiate. then there's the demand for money. poor countries with rich companies to give them $1 trillion a year to help them
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ditch fossil fuels. it is hard to see american voters approving such huge payments when we are running a gigantic deficit of our own and don't forget the weather. better not be a cold snap. turns out utilities around the world couldn't generate enough electricity to meet the post pandemic demand. the price of fossil fuels like oil, natural gas and coal are skyrocketing. president biden was reduced to begging oil companies to pump more oil. there is irony here. he green president attend the ultra green climate conference and asks for more oil and coal because renewable didn't work. irony and crisis. another crisis. third hour of varney just getting started. we are pleased to bring senator
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ted cruz to the show this morning. perfect timing. this is just another crisis the president is walking into of his own making. you with me on this? >> i am. it is amazing on policy after policy the hypocrisy president biden and the left shows when it comes to climate, john kerry will likely fly to the climate conference in his private jet. he flies everywhere in a private jet. he lectures everyone on climate. when i come up to dc i'm flying on southwest airlines, sitting in a commercial plane like everybody else but not john kerry. he explained this is a paraphrase, for someone like me it makes sense to fly private everywhere. thurston howell, that is fine but you are happy destroying people's jobs in texas and all across the country and
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lecturing us in the amazing thing is if you examine the biden administration's policies they don't believe what they are saying. when they talk about climate they talk in terms about how carbon emissions are going to destroy the world. the very first thing president biden did as president is ended the keystone pipeline. with one stroke of a pen he destroyed 11,000 jobs including 8000 high-paying union jobs and that made the environment worse because the canadians are not going to leave the oil in the tar sands was they are producing that oil and will send it south on trucks or trains or they will send it west on ships to china. either of those pollutes more, emits more carbon it has greater risk of a spill than a pipeline. they are doing the same thing by targeting and destroying us energy production going after
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oil and gas producers in america, shutting them down, putting burdens on them and at the same time asking opec, asking russia to produce more. opec and russia produce oil and gas that is dirtier than american oil and gas so once again their radical agenda doesn't meet their own stated objectives, it ends up polluting more and doing more damage to the environment. stuart: what about the border? thousands of migrants marching to mexico headed to the southern border. my question to you is what is the administration doing as the new caravan approaches and what will texas troopers and the national guard do when those migrants hit the texas border? >> president biden and kamala harris are the immediate cause of this border crisis. this caravan is a result of their own political decisions. we are on a path for 2 million people to cross illegally this year. the highest rate in 35 years
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and it is tragic, humanitarian crisis, the public health crisis, national security crisis and biden and the democrats don't care. they look at this caravan of illegal immigrants is what they see eye future democratic voters. they are fine with thousands of little boys and the girls being physically assaulted and sexually assaulted by human traffickers bringing them in, fine with the 24% rate of covid positivity is the biden cages in the rio grande valley which i have been to, they are fine with the fact that terrorist people on the terror watch list, violent criminals are among those streaming into the country and not allowing biden and harris are not allowing border patrol to do their job. last week i decided to take them at their word and they say you should be fine with 2 million illegal immigrants coming to america, legislation to stop the surge act, creates
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13 new ports of entry in all the fancy locales were democrats like to have cocktail parties. in nantucket a new port of entry in greenwich, connecticut, let's see how john kerry feels when he's at the vineyard sipping cocktails when you have week after we, 10, 20, 30, 50,000 illegal immigrants being dropped off. they are lecturing as the texas should be just fine with us, might be a different tenor. stuart: i often said sarcasm is a low form of which but you raised it to a higher level. thanks a lot for being here. mike murphy is with us now. we need make murphy, took to me
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about these blowout tech earnings. which of the big tech companies are you buying if any? >> great to be here. we are buying all the big tech companies, we allocated a lot, not in individual names, with stocks up at market caps we are buying the basket and doing that for the? q which is the top technology name but also people watching at home should look at the index of the s&p 500, which is heavily weighted to tech right now but that -- the idea people should sit on the sidelines just because we are at a new time high in the market makes no sense. people should be allocating money to the market at these levels and the best way to do it is to burn index. stuart: you have been saying that for many years on this
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program. buy the dips and don't get out of the market. stay in it. i remember earlier this year, not sure which month it was, the dow is probably going to hit or could hit 40,000 this year. this is close to 36,000 now. you are not thinking of 40,000 by the end of the year or are you? >> you and i had a wager on this. i think we will get 40,000 by the end of the year. we will get to the s&p at 5000 by the end of the year. the reason is there is so much pessimism in the market, companies like facebook we hear from other big techs like microsoft and google, putting of earnings, we are seeing growth in the economy. we are looking at the end or near the end of the tunnel on covid. there's enough out there. companies have figured out how to increase their bottom line and covid pushed them in that direction.
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dow 40,000 is coming in 2021. stuart: i am so anxious all the time. i never lived in appear go, and i'm older than you are, where the market went straight up for 10, 12 years. i have ever seen that was that makes me anxious. >> you only have to go back 18 months to see a massive bear market at 35 or 40% correction in the market that unfortunately people aren't tuned to your program some people pulled out of the market because it was going to 0 at that time. we turned, reversed course and were much higher so there are the instances of the bear market shake outs or massive corrections. 18 months ago we had one. they will come again but trying to time that is very difficult so staying for your viewers to stay invested and stay long as the best place to be. stuart: there is no alternative. good to see you again. jeff bezos taking space tourism to the next level. he's working on the new space station that could be open in a few years.
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powerful storm just drenched california. we have a report from a lake that rose 20 feet in the last week. that's good news in the middle of a drought. this happens every day in san francisco. crooks breaking into cars in broad daylight. and families are so fed up they are hiring private security guards. california guy larry elder on that next. ♪♪ a first-of-its-kind, personalized education center. oh. their award-winning content is tailored to fit your investing goals and interests. and it learns with you, so as you become smarter, so do its recommendations. so it's like my streaming service. well except now you're binge learning. see how you can become a smarter investor with a personalized education from td ameritrade.
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stuart: a slide destroyed a
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tennis court, record-setting storm brought massive flooding to california. max gordon is with us in lake orville, california. is that the lake that rose 20 feet over the weekend? >> that is right. this rain is badly needed here. lake orville, a symbol of the western drought. over the summer this lake hit historic lows only quarter of the lake's capacity but there is hope with all the rain we got over the weekend things are moving in the right direction. to look at how things look over the some of the water got so low the california the permit of water resources had to extend a boat ramp into the shrinking reservoir so people could get to their boat. the state had to shutdown the hydroelectric power plant because water levels fell below the necessary minimum, the first time the powerplant was
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taken off-line since it went into operation in 1967. rain has come to california and in some areas rainfall records dumping inches of rain all over the state a cause widespread flooding over northern california. lake or dylan big mudslide occurred on highway 70. massive boulders falling down on the road. the roads department shut down the stretch of highway 70 because of the mudslide. no word when the stretch of highway 70 will reopen or how long it will take to clear the debris. a whole lot of rain with the storm system, as i mentioned lake orville looks very empty. lake orville right now compared in 2019, is 100 feet lower two years ago.
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stuart: thanks very much. look who is back, that man is larry elder, haven't seen him in a while, he has been running for the governorship of california but he's with us now. you are a california guy for an interest. describe for me what it is like living through the bomb cycle in which you just went through. >> i live in southern california so it hasn't hit us that much but i was in northern california lake orville and i looked at that lake and the problem is in california we have extreme weather because of climate change will be have rainy weather as you are seeing. the question is what are we doing with that water. much of that water drains into the pacific ocean. we are not storing a, not building enough reservoirs are raising enough dams. we have ballot measures to do that because of the environment a list the care more about the delta smelt than farmers or consumers, we are not adequately storing our water. we've not added in a real way to our water infrastructure in
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40 or 50 years when the state was half its size. stuart: how many years have you been complaining about the strange policies you have to endure in california? here's another one. the appointment rate in california is 7.5%, highest in the country, and one third of the entire country's jobless claims come from your state, california. it never gets any better. does it? >> things will get worse because so many people told me i am only staying here because you may when the governorship and i won't leave. assuming some percentage of people who made that threat do leave, the exodus is going to be greater. more businesses left california this year than all of last year and we only restored half of our jobs pre-pandemic as opposed to two thirds nationwide. after the election was over gavin newsom signed a bunch job
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killing freedom smashing bills including mandating ethnic studies saying gasoline powered lawnmowers and leaf blowers would be banned from now on and mandating gender neutral stores in toy stores. this is the kind of nonsense causing people to leave california for the first time in our state's history. we are 170 years old and people who never never left before are leaving now. stuart: crime in san francisco so bad that families are hiring private security to control their own community. this is a huge change from when i lived there 30 or 40 years ago i don't understand why people of san francisco keep accepting this. >> people hiring private security, what about people who can't? it is because we passed a law, voters passed a bill called proposition 47 sold on criminal justice reform that allows
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criminals to steal anything up to $950 without fear of going to jail. you commit a misdemeanor if you get caught and it is not just every day but every store. criminal going store to store to store and walgreens closed 5 stores, that is on top of 5 more since 2019, they closed 10 stores in the last two years. stuart: i used to ask why don't you move but got tired of asking. you will stay right there and fight. yes? >> i don't want to be pushed out. i hope people come to their senses and realize the states hit bottom and we need to change course but so far doesn't look like that has happened. stuart: you should run, run. i think you are all right and we will see you soon. let's get to the market. love to see this rally going strong, dow is up 140, nasdaq 120, s&p up 30. look at united airlines.
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bloomberg reported on vaccinated pilots cost $100 million every two weeks. pilots were on paid leave. others refuse to risk their safety by flying with those unvaccinated pilots. we went into the new york city, got tired of seeing him with his suntan in mayport, florida so we brought him here. your with us for the hour. what do you think about vaccine mandates? >> i am for the vaccine, people should get it if they wanted but to be mandated is a question a lot of people have. i don't go for the mandate but i encourage people to learn about it and make their own decisions whether to get the vaccine. stuart: the vaccine mandates apply a lot of pain for this economy and society. if you have 3% or 4% of people leave that job because they
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don't want to get vaccinated you have a problem. stuart: look what is happening in the police force and the fire forces around the country in the big states, new york and california, chicago, starting to walk out the door. that will create a set of problems for those big cities. stuart: i to to talk about the private space industry. jeff bezos's of origin country going to build a space station call the orbit re-to research and tourism. about the same size as the international space station. could be ready by the end of the decade. i think this is a very important new industry. you got bezos, you've got musk, and you've got richard branson. i don't know if you follow this industry but would you put your money into it? >> i would. if i put my money and i would go with bezos first and then musk. branson probably not. bezos has a vision, already designed this. it is very exciting. i'm trying to figure out how they are going to pull it all
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off and get tourism up there and what it will cost. it will not be cheap to go on a tour of the space station. stuart: when it goes public my favorite would be musk's space x because that is a real industry, 10 years in front of everyone else. >> musk is not proposed to build a space station like bezos proposed to build the station. if you're going to go up in space instead of up and down in 10 minutes, spend a couple days. stuart: musk put people in orbit for three days, monster thousand satellites. >> you are orbiting for 3 days in a capsule going around. and bezos's view it is a space station, free to move around and kind of live in space the way they do on the international space station. stuart: houston astros back in the world series three years after their cheating scandal. we will cover it for you. tom brady's 600 touchdown ball was given to a fan.
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brady got the ball back it is using bitcoin to repay the fan. good story and we've got it. ♪♪ ♪ say it's all right ♪ ♪ say it's all right, it's all right ♪ ♪ have a good time 'cause it's all right ♪ ♪ now listen to the beat ♪ ♪ kinda pat your feet ♪ ♪ it's all right ♪ ♪ have a good time 'cause it's all right ♪ ♪ oh, it's all right ♪ ♪
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stuart: fox square outside our studios. we have a nor'easter, strong wind and heavy rain. look at the markets please. the rally continues, nasdaq up 120, 130 on the dow. we have the movers too including apple. let's see what the stock is doing. one%, not bad. what is the story? >> some customers order the new macbook pro and expected to receive them today. it is not coming until december. how much will this happen as we push closer to the holidays, people will be missing. stuart: didn't hurt the stock. >> people are going to the gym. that is one of the reason stock is down to they are keeping at
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home equipment. it is the new future, it was up 400% and down 36% this year. if you compare and contrast to planet fitness down sharply less but up this year because the way we behave is changing. they realize a lot of games last year. stuart: any meme stocks or new meme stocks? >> look at these three and look at those moves, tremendous, retail chatter is big on box, platform for cryptos, mastercard, to enable digital asset payment. up again. they have a vaccine, partner with another company for a vaccine meeting today to discuss it. red box, the dvd people say they were sent the public markets. stuart: are you sure they are meme stocks. lauren: i am calling them meme stocks. the redit crowd is chasing
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them. checks the overall markets. it is so good to look at this stuff. dow is up 100, nasdaq up 100. look who is here, joe durrant. i am remarkably well in a rally like this. inflation could normalize next year. what is normalization, bring inflation down to 2% or 3%. >> the target for the fed, some things are happening and shipping delays everywhere. a spike in oil prices, a new driver. some labor shortages especially in the service market. any time you got dinner or lunch with family and friends we see the sticker shock at the restaurant. stuart: you told me the reasons
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we got inflation at 5%. you tell me why that is going away and we get to 2% or 3%. >> energy will normalize. it is temporary in the spike. we increase production immediately after prices go up so you will see a surge. the chip shortage will get work through and the shipping challenges will get fixed as well so a lot of the major spikes causing this tension, people come back to work with supplemental checks coming and you don't make more money sitting at home then going to work. a lot of things causing this will dissipate. it will feel awful in the meantime. some things revert to where they were but you see pressure on the other side for prices to come down and puts the opposite pressure on supply of products. what you are seeing another thing to consider is a lot of
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people going on vacation, in hotels and services through the roof and that will normalize because a lot of people saying i can't afford to go on vacation and i will continue to expand and these things, it always feels awful but you need actually, inflation for it to persist. the internal research team is confident this feels bad but is temporary. stuart: this market rally has a ways to go to the upside. that is a rosy forecast. to the point, joe durrant. show me ups. the record high, they have pricing power, in porton up 7% a huge gain.
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general motors, 40,000 electric vehicle chargers across north america. that will boost the total numbers by one third. show me some cruise lines, the cdc extended covid restriction some cruise ships until january including mandatory mask wearing and vaccinations but it also means after january 1st those restrictions are off. headline here, biden's vaccine mandate, this policy, right out of a dystopian novel. congressman brian mast wrote that it is on the show to explain the storeowner put $36 million if the astros win the world series. he is known as mattress mac, he's on the show next. ♪♪
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stuart: i'm not going to sing the baseball song but you are looking at the home of the atlanta braves. the houston astros take on the braves for game one of the world series and, mcshane is there. is anyone talk about the astros cheating scandal? >> guess who is talking about us. you know how the media can be. in covering business news, we heard of a business going through a crisis. they say be humble or come clean, rebuild your brand. if your business is sports we might add one thing into the mix, just win games and see what effect that will have and
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that is what the astros, they have a team that everybody loves to hate after they went through the scandal, caught cheating during their 2017 championship season but they are back a third world series appearance in the last 5 years, the same star players, they will tell you they are not thinking anymore about the scandal. >> not worried about any of that. i to win four games. i want to play good baseball. it has been an honor to suit up with my teammates and compete and try to win baseball games. >> reporter: from a business perspective we spoke to a branding expert who is telling us the approach you heard is probably the right one, just focus on what you can control. >> >> stuff that goes on the field. they are a reflection of what
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they are doing, they don't tell you what they should be doing to be a great brand. >> the atlanta braves, in the world series, they didn't have more wins than losses until the sixth of august. there are plenty of storylines for the game broadcast on fox. to talk about players they don't want to talk about it, the astros fan base embraced an us against the world mentality. this t-shirt in the team store. houston versus everyone, that is how they see things in texas, putting those days in the past in the past. stuart: cell that merchandise. see you tonight. the story a lot of people are waiting for. a furniture store owner in houston has millions of dollars riding on the astros.
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if they win the world series, $36 million, the largest payout, mattress mac joins me now. welcome to the program. can i ask you to lay out the bits. how much did you put down? >> 3000 better and the astros when the world series in 2020 when you get your money back, so on june 10th, i bet $2 million with caesar's, 10 to 1, i have $1 million, i bet 250,$000 with draft kings, 16, and 100,000, 16-1, to win
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1.6 million, and and it was absolute hot cake, nothing like it. stuart: is that the biggest bet you have ever made? >> the biggest bet i ever made, the largest legal sports wager in the united states. the astros play the braves, we are saying go astros. stuart: the biggest bet you ever won, the biggest bet you ever lost. how much was made so far? >> the biggest bet i ever won was at the super bowl, brady in the box won, that was $3.6 million when the astros lost in 2019 to the washington nationals, that was
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$19 million. i won the last one. stuart: ever been asked if you have a gambling problem? >> my wife tells me i have a gambling problem all the time. i told her i have a promotion problem. i like to run promotions. stuart: stuart: tell me the odds of you winning $36 million. >> if you bet on the astros to win the world series, if the braves, the astros are favorites and we will see what happens in the next week or so. should be exciting to watch on fox. stuart: a promo for fox at the same time, really good stuff. you are a good guy, you are all right. >> after i win. stuart: you will too. tom brady is rewarding a
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football fan who gave back his 6 hundredth touchdown ball. the fan was given the ball sunday by a player who didn't realize its importance. the tampa bay bucs got the ball back and gave the fan seizing tickets. and valued at 62,$000, that probably doesn't cover the value of the ball which is 500,$000 but that fan voluntarily did the right thing. back to the market. this is and gambling, this investment. dow industrials up 130 and the vast majority of the dow 30 stocks are in the green. this is broad-based across the board rally. next month the white house will lift restrictions or international travelers, they show proof of vaccination. we have the report from o'hare international airport and that is next.
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stuart: starting november 8th, foreign travelers need to be vaccinated if they want to fly
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into america. while travelers also need a negative covid test before they come over here? >> they will within three days of a departure flight they will have to show the negative covid test. the vaccination requirement for everyone coming from another country into the us with a few exceptions. this changes the rules for americans looking to reenter the united states. for them if they are vaccinated they will have to show a negative covid test within three days of their return flight and if they are not vaccinated they have to show a negative test within 24 hours of the return flight, the graphic a little messed up had it backwards but you have a point. this opens the door for travel from 33 countries which had been banned from entering the united states. it does make things more complicated for those who are not on the list.
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the us travel association is praising the move by the biden administration to get travel going again. we are grateful this detail has been available as we move to reopen to fully vaccinated international travelers and look forward to similar guidance, for those qualified visitors who plan to enter via the northern and southern land borders. and we are waiting guidance, with air travel opening of the international travelers so we can expect prices to climb as well. folks at the travel booking apps hopper's to tell us they expect international travel ever to increase 15% between now and the holidays which is a month away. stuart: that would be inflation. on foxnews.com biden's vaccine mandate, this policy out of the dystopian novel.
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the other of that is brian mast from florida who joined me now. you are anti-mandate but my problem with this is you can't backtrack. once you've got a vaccine mandate in place, how can you back off from it? i don't think you can? >> hard to do that. you have members, board members or employees, fortune 500 companies, doctors, nurses, leaving their workplace, students dropping out of school to the point, those who plan to commission in the military academy like west point or naval academy saying i'm not going to adhere to the mandate, that dystopian government mandate and you can't unring that bell. it affects the course of the future of the government for
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years to come and that is by design by this administration, self identifying by their virgin thinkers, government agencies across the board. stuart: if the pain is so great, 4% of an operation not going to work so it is in deep trouble, at that point do you think there might be some backing off of the mandate bell? it is possible? >> possible but unlikely because we are already at that point. when you look at students who are in medical school or nursing school or other places like that, estimate that somewhere 20 to 25% are refusing to get these mandates were being forced into that in an industry that is already experiencing severe shortages to take the students out of school and not have them in the workforce that is the emergency situation you are going to get but we don't see the administration taking their foot off the pedal and we see
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them advancing towards this with private industry, private companies. stuart: it is so unnecessary. thank you for being with us. sorry it is so short but busy newsday. come back and see us soon. time for the tuesday trivia question. which animal spends 90% of its day sleeping? kenny is with me and we will force him to make a guess after this.
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. . exciting medicare advantage plans that can provide broad coverage and still may save you money on monthly premiums and prescription drugs. with original medicare you are covered for hospital stays and doctor office visits but you have to meet a deductible for each, and then you're still
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responsible for 20% of the cost. next, let's look at a medicare supplement plan. as you can see, they cover the same things as original medicare, and they also cover your medicare deductibles and coinsurance. but they often have higher monthly premiums and no prescription drug coverage. now, let's take a look at humana's medicare advantage plans. with a humana medicare advantage plan, hospitals stays, doctor office visits and your original medicare deductibles are covered. and, of course, most humana medicare advantage plans include prescription drug coverage. in fact, in 2020, humana medicare advantage prescription drug plan members saved an estimated $8,400 on average on their prescription costs. most humana medicare advantage plans include a silver sneakers fitness program at no extra cost. dental, vision and hearing coverage is included
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with most humana medicare advantage plans. and you get telehealth coverage with a zero-dollar copay. you get all of this for as low as a zero-dollar monthly plan premium in many areas; and your doctor and hospital may already be a part of humana's large network. if you want the facts, call right now for the free decision guide from humana. there is no obligation, so call the number on your screen right now to see if your doctor is in our network; to find out if you could save on your prescriptions, and to get our free decision guide. humana, a more human way to healthcare.
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♪. stuart: television every day, you can wish your family members happy birthday. i want to wish my very own daughter, rachel, rachel varney, i want to wish her happy birthday, october 26th. that is her birthday. rachel is watching. happy birthday, rachel. looking good. now the trivia question, which animal spends 90% of its day sleeping? >> i will say sloth. stuart: you're wrong. the answer is, i'm kidding you. i knew this, the answer is koalas. here is the explanation. koalas sleep 22 hours a day because of their diet. they eat a pound of eucalyptus leaves a day. it is toxic. koala digestive system has to work hard to break it down. that limits nutrients extracted. it gives koalas very little energy to get them through the day. you learn a lot on this program, kenny. >> that is amazing. i don't know you who they make it, it is poisonous, right?
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stuart: utterly irrelevant to investing money, making money in the stock market which some people are doing well. what are you cooking today. >> i'm cooking up chicken. served with a arugla, red onions, grounded padano olive oil, press lemon juice. stuart: you are italian. kenny polcari. i will hand off to another gentleman of italian heritage, neil cavuto. welcome back, neil. neil: do you like italian? stuart: i am no-carb diet. no pasta. thank you,

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