tv Varney Company FOX Business September 27, 2022 10:00am-11:00am EDT
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treasury yield now at 3.93%, keeps going up towards that 4% level, the price of oil still at 79 -- up 3%, $79.14 a barrel. bitcoin moved up to 20,137. just got the latest read on something very import to the economy, the level of consumer confidence. what we have? lauren: 108. it rose for the second month for the month of september and rose more than expected. you can make the argument inflation might be coming down a little bit. or we are getting more used to it because we are getting more confident. stuart: the other big report. lauren: ask me the question. stuart: new-home sales up or down? lauren: up 28.8% for seasonally
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adjusted annual rate of 685,000 in the month of august. stuart: that is a blowout number. lauren: the price did come down a little bit. median sales price 486,800, down $2000. stuart: whoa. trying to digest that. immediate result is the dow is up 183 points as opposed to 200. i wonder if strength in new-home sales encourages people to believe the fed has a stamp on it somehow or other and keep addressing the raising rates. that's a possibility but that is what we saw, dow up 180, new-home sales up 28%. wasn't expecting that. now this. one of our producers left her apartment in new york city to pick up her daughter from school. on the way she saw a group of migrants on a street corner
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holding signs asking for help. it is come to this, 2 million migrants this year spreading through the country and appearing begging on city streets. two points, political and personal. the open border is a disgrace. the democrats made a political play for the hispanic vote by inviting them in and anyone who opposed it is labeled a racist, new york, dc, chicago, california, democrats ramp to the immorality of texas in florida, moving migrants around, it is pathetic, the solution is to secure the border, that should be national policy, that is politics. how should we react as individuals when we see migrants ask for help in the street? not talking about setting up shelters or handouts or phones and sneakers come talking about one's own personal response. we see them, what do you do? i would help.
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i would offer a small amount of money, sandwich and a smile, that is important, a smile shows sympathy and understanding of another human being's situation. some would say i'm encouraging more to come but by doing that i am feeding the cartel business. maybe so, but they are here. they are not going away. americans are the most generous people, when we see them in the street, for me border politics takes a backseat even though i feel passionately about it. the person need in front of you the challenges my humanity, not my politics. second hour of varney is just getting started. jason chafe its --chaffe joins me. i.e. should and editorial saying i
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would help a migrant begging on the street. i could be accused of encouraging them to illegality. what do you say? >> you have a big part and your heart is in the right place, these are human beings. we have a duty and obligation as children of god to be compassionate to these people. i also agree with you that it is the wrong public policy to attract these people because of the human trafficking, drug trafficking, all the other negative things but this is the big question president biden, kamala harris and the administration have not answered. once these people have been invited by the biden administration and they get here and release, what are these people supposed to do? what do they do for jobs in healthcare and food? it is illegal and a felony to pad out a bogus social security number.
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that is a deportable offense. are they supposed to fake it? what are they supposed to do? nobody at the white house is answered this question. how much will it cost the american people? how will they deal with it? we are not thinking about 100 or 50 in martha's vineyard, we are talking millions of people. what are they supposed to do? one good question. let me move on and bring to your attention joe scarborough who says democrats mishandled the border crisis. >> democrats badly mishandled the southern border the past several years horribly. the issue doesn't matter to them at all. it matters to most americans. if you come into america you need to come legally. if that shocks you you need to wake up. you need to wake up. stuart: that is quite an admission from joe scarborough having gone after trump and the
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border for so many years to turn around and say democrats share responsibility. >> that happens a couple days before the election starts. where have they been the last two years? this is something on day one of the biden harris administration that fundamentally changed from the trump administration and they mishandled, totally ignored it, opened this door and allowed this to come in and there are hundreds of people who died in that river, untold number of thousands of people who died in the trek northward and now they say democrats forgot to deal with this. how incompetent is that administration and democrats, four top-tier issues. blue one turnaround before the election because they know they are losing here. thanks for joining us, appreciate you always. a new poll shows how people
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feel about migrants being sent to democrat run cities, do they approve? lauren: 51% approve, small majority versus 49% who disapprove, but the results are along party lines. most people would agree, whether you approve or disapprove you've got people talking. you cannot go to the polls in november and not have the border be top of mind because they are coming to every city. of the when they are coming here and i gave a personal tutorial, you want to come here or no? >> your heart is in the right place but there are a lot of americans struggling and now our schools have to educate many who don't speak english. we suffered enough. stuart: you see another human being standing in front of you, they are there, they are in trouble. on a 1-on-1 basis a little humanity. >> risked their lives to come here and likely gave away most of their fortune to pay a
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cartel to get here and they shouldn't be allowed in. stuart: you wouldn't -- let's not pursue that. lauren: i'm careful who i open my pocketbook in front of these days especially in new york city. i go to the atm and look around me. i don't open it. of the one i'm sure we will get a lot of emails about that editorial but let's save it for friday feedback. we got data. this is a story, data shows how many unaccompanied minors crossed the border since biden took office. i know it is a huge number, how big is it? unaccompanied minors. lauren: since february of last year, title 42 exemption, unaccompanied children could not be expelled so they kept coming over in big numbers. the ones that didn't connect with those who are already here, they are stuck in shelters suffering distress,
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anxiety, panic attacks. stuart: it is time the authorities took responsibility for this. thanks very much. let's get back to the markets, look who's here, scott schelladdy. is this just a bear market bounce that is going nowhere? >> i think so. i'm not overly bearish but find new people who want them, to have the market bounce a little bit. that is what this is. i don't think this will go anywhere further to the upside, you've got some issues, to see what earnings are going to do, downgrades in gdp, 4. 3% and another one today. the signs are pointing to a slow down or bigger slowdown and also not a soft landing but
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hard landing and even longer recession. not too exciting about it but you need to look at market psychology. you need to find some new sellers. it is all right. stuart: you want to comment on my editorial that i would personally one on one help a migrant on the streets of new york. what do you say? >> you better be ready. ready and willing to make a lot of sandwiches. stuart: that was a very good response. because you are wearing a cow jacket this is for you. sales of refrigerated meat alternative, down 10.5% in the last year. some comment it is the woke image of fake meat that is killing them. what does the cow guy say to that? >> that is part of it but i go from a different angle. when it first came out i was asked about all the time because i wear this jacket and
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my answer hasn't changed. my answer is this. it is going to be on the menu but it be as popular as nonalcoholic beer and decaf pop. no one will want it but they will say we have it because you don't go to a burger joint for a veggie burger a steak joint to get fake meat. this is something that will be a 1-off, nothing else for these people to have because think of it, if you're a vegetarian, you're a vegetarian because you like vegetables, that's the bottom line. if i'm a vegetarian i have to like vegetables and venture off of that, to like vegetables, you are off to a nonstarter. so to my original premise, what is the reason this is out there? it is an alternative like decaf copy and non-alcoholic beer, i
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think i've been proven right? stuart: that was very good. we always rely on you for a pithy comment and we get it. nasa scientists hearing after their spacecraft collided deliberately with an asteroid. it was a successful space crash. shocking video shows philadelphia being ransacked by wild teenagers, rampant crime devastating the livelihood of mom and pop stores all over the place. jeff flock has the story coming up. hurricane ian strengthens to a category 3 storm as it turns toward florida and we are 6 weeks to the midterms, all eyes on governor desantis to see how he handles it. that is next.
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stuart: this coming at us. phil mickelson has dropped out of a lawsuit against the pga tour saying the only reason for him to stay in the lawsuit was monetary damages which he says he doesn't want or need. mickelson was among 11 golfers who sued the pga last month because they were excluded from pga events. take a look at this. this was a wawa store in philadelphia ransacked by a mob of teenagers over the weekend, jeff flock is at the scene. have there been any arrests? >> there have not although police are at the scene continuing their investigation looking at that tape that you just saw and perhaps will see again.
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they are releasing video of what happened that 8:30, saturday night, kids were coming from a roller rink apparently and then all hell broke loose, people started throwing food, jumping up on counters, destroying stuff a real mess and police say they are asking get parents if you recognize your kid come forward and tell us, we want to charge them. made all -- charge them with felony riot. most of them are juveniles, police in some ways very frustrated by this whole thing and you can hear that in their voice if you listen to this. >> we cannot have this behavior happening in this city, the business community doesn't deserve that, citizens of the city don't deserve it. people in this establishment getting items, don't deserve to be placed in harm's way.
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>> reporter: violent crime in philadelphia is up across the board, up 6%, retail theft is up 34% this year. statistics from the police, up 50% and gun robberies, 60%. it is worse than nationwide. if you look at statistics nationwide, homicides this year nationwide, down this year as well with border crimes. philadelphia has a problem on its hands. a mess of trouble. stuart: a whole mess of trouble is the right way to put it. take a look at this. a headline in the new york post, op-ed, democrats need to stop urging political violence. she joins me now. why do you say biden's rhetoric about mag republicans is
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dangerous? >> we just had a death where a man killed a teenager in north carolina because he thought he was a republican extremist, turns out the teenager was not involved in anything like that but that is irrelevant, doesn't matter if the teenager was a republican extremist doesn't give you the right to run him over with your car. so much rhetoric from the left is gone crazy. when the right is trying to destroy the country a lot of people try to take that is a call to arms. the last month hillary clinton compared the right to both nazis and 9/11 terrorists, this is rhetoric we shouldn't accept in a free society and i would love to see the media at large saying something about this but they are not. stuart: dream on because they are not going to say anything about it. this is a sign of desperation, 6 weeks to the midterms, they are down in the polls so they ratchet up the rhetoric and it
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is not welcome. >> you are right, absolutely. absolutely right. stuart: i am sorry, got to get to the hurricane. ian, this is a test for governor desantis, executive in charge of the crucial moment. how is he doing? >> doing great. i follow a lot of florida accounts, one called omg, said tropical storms rain with the name at we shouldn't get worried until the local waffle house shutdown. i'm cautiously optimistic but as a transplant to florida you want to walk the line between not taking the storm seriously and not panicking. governor desantis has been acknowledging there are new floridians, no generators indoors, i don't have one but now i know. a lot of people who moved to down have been through hurricanes before, i've been through them in new york, hurricane sandy, we have a case
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of chocolate chips to do that, and we are ready. stuart: are you on the atlantic side of florida? >> yes. stuart: which is not supposed to get hit as badly as the gulf side so what is the weather like now? what are you expecting where you are? >> it is rainy and windy, we are moving stuff indoors, we are not treating it like no big deal but we are told not to panic and we are listening to that direction. we are taking it as seriously as we are supposed to at this point. it is supposed to hit the west coast but it is a hurricane, don't know what is going to happen. it can move. to all the transplants, get prepared but don't panic is the right advice. we with one good idea. thanks very much, see you again soon. let's get to a story brought to you, the nasa spacecraft crashed into an asteroid, scientists are celebrating
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because it was a successful test of their new asteroid defense system. watch this. >> awaiting visual confirmation and we have impact. we won the screen went black because the rocket hit. scientists hope to use similar strategies to protect earth from future incoming asteroids. still ahead, liberal media goes into a tailspin when democrat senator kristin sinema spoke of her friendship with republican mitch mcconnell. roll tape. >> despite our apparent differences senator mcconnell and i have forged a friendship rooted in our commonalities including our pragmatic approach to legislating a respect for the senate as an institution. we want the democrats did not like that. what happened to uniting the country? media guy joe concha deals with. senator manchin fires back at senators who oppose his energy permitting bill. >> they will have to explain
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why they would rather shut the government down and have secure independence as far as energy and being independent. stuart: republican roger marshall response to that next. ♪ your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire ♪ ♪ ♪ ♪
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stuart: almost one hour into the business, up 200 for the dow, 130 to the nasdaq, minor-league balance during the selling recently. lauren is looking at movers, i am intrigued that charge point, they make charging stations for tvs, 6% up. lauren: they are on their way to locations near you next spring, transportation department approved all 50 states, this covers 75,000 miles of highway, some are fast chargers, full recharge in an hour. you have to wait until next spring. we are on the right path. be when the price of electricity will be financed.
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marathon digital. >> bitcoin is back above 30,000 that a 2 week high. you have marathon digital, all the bitcoin and crypto currency up big time today and they didn't pay yesterday, coming down today but you have big tech players outperforming and some outperformed yesterday. may be they are overselling. stuart: bo dharna. what is the story? they are up again. lauren: the covid booster, the updated one, there is an issue with supply and fda cleared an additional 5 batches of their new covid booster shot. stuart: confusion remains who should get one and why. the government is days from a possible shut down. 's senator joe manchin's permitting bill the second point.
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lauren: the bill to get the maggot tax and climate law, that bill came do. if you remember senator chuck schumer promised manchin energy permitting for the pipeline through west virginia and virginia in exchange for his boat but at his vote. there to test vote on the i/o you tonight in the senate, procedural vote and it is attached to a measure this past friday. if it doesn't pass, either manchin's permitting reformers out or the government shutdown this weekend. manchin bank on the gop help him get this to but many republicans say why would we help you hear when you cut this massive spending bill behind our backs. now republicans don't want to tie up keeping the government open with extras. stuart: the permitting bill is useless and will do little towards getting more oil and gas production in the united states. lauren: might be a step in the right direction.
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we want senator manchin is responding to opposition to his energy permitting bill. watch this. >> they have to acclaim why they would rather shut the government down than have secure independence as far as energy and independent energy. why we don't want to build the pipelines and transmission lines to make sure the country is energized, basically in an expedient way. why are other countries able to do one in three years, more, 5, 10, or 11. that doesn't make any sense at all. stuart: not sure how many pipelines would be built or issued. senator roger marshall joins us now. will you vote against manchin's bill and shut down the government? >> voting no, over/under, 52 senators will vote yes on this. will take -- call is what it is, the mountaineer, good for
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west virginia, horrible for the rest of the country. this bill is inflationary and let me tell you what i mean by that. energy counts for one third of inflation and this amendment will drive up the cost of energy, the federal government to base their permitting decisions on the origin of the energy so they would permit a transmission line for wind and soldier but not nuclear, for coal or natural gas. let me tell you about the kansas experiment, 50% electricity being generated from wind. most of that is being shifted out of the state, paid disproportionate share of the transmission cost and now energy costs have gone up and not reliable. affordability is important. this is horrible legislation. it will be inflationary and america doesn't want it. blue when the manchin bill does not stop lawsuits forever
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holding up every project but that is what they always do. nothing gets done. manchin bill does nothing about it. >> this does not help the rest of the country. there's legislation that would help permitting. i agree with joe manchin that it takes too long for permitting. it should be two years or less. this legislation does nothing to fight back on that, this is horrible legislation that will drive the cost of energy up and decrease reliability. stuart: you are going to force a vote on ending the covid emergency. why do you want to end the covid emergency? >> this president uses the covid emergency to justify inflationary spending. you wants more spending because covid is out there and uses
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that emergency to enforce his unconstitutional rule like mask mandate, still having preschool kids required and masks in head start so we need to push back, take this away from them. he weapon eyes as it, uses it, part of his social grab, socialism that president biden proposes, that is why november we need a change. stuart: senator roger marshall, thanks for joining us, see you again soon. an unexplained leak was found in the nordstream pipeline that connects russia to europe. lauren: at least three weeks on nordstream one and 2. this is unprecedented and unexplained, mostly russian infrastructure used to deliver gas, european authorities cannot rule out russian sabotage on its own
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infrastructure as payback to the rest of europe for being against them. blue when i would like to see the price of oil and europe and natural gas in europe because i am pretty sure it goes up. thanks. american companies reassessing risks of doing business with beijing. edward lawrence joins us. i want to know which company are cutting ties with china right after this. ♪
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losses, dow is up, 200, nasdaq one hundred 36, apple is the latest american company to put distance between itself and china. they are in the process of iphone 14 manufacturing from china to india. if companies aren't reassessing their business ties with china, how many are cutting those ties completely? >> reporter: we are not seeing that yet. apple is a good example. the bulk of apple production will have it inside china but they realize they need to diversify the supply-chain so some of these are in india. it is open/win her apple which has 4% of the phone market in india so apple hopes to increase that. google announcing the same move with its production. with the rising tensions between china and the us and covid lockdowns in china having the ability to make product outside the country makes sense
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but michael pillsbury says this administration needs to get tough on china. >> what trump tried to do with china, he would tell me and others that he would negotiate and get a good deal, the truth about the covid origins. the biden administration doesn't appreciate that approach, they are not seeking leverage on china and getting results. >> reduction not in the us but india so the white house official says the vice president in every meeting in japan talked about taiwan. foreign dignitaries want to make sure allies are lined on their approach to taiwan and china that makes the iphone. this comes after the president told 60 minutes, other white house officials cleaned up those comments saying the us maintained the one china policy. we won thanks. now this. the president has announced his
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first state visit. tell me when he's going and where he is going. of the to president macroand is coming in december. the first state visit for donald trump also. covid is over so the white house's to mathematic calendar is open for the first time in his presidency and president biden will host french president macroand in in december, the us and france our partners. cabinet secretaries discuss coordinated responses to the war in ukraine, climate. stuart: i believe you also have news on the us whistleblower edward snowden. lauren: he's living in exile in russia for nearly a decade and been granted citizenship. he exposed the nsa surveillance
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operations of millions of americans and putin -- the timing is very curious of this citizenship move because they need people to join them in the war. edward snowden would not go to the front lines but putin will draft him for surveillance, for intel, speculation. blue on my opinion on edward snowden should not be on television. lauren: i am curious. stuart: during a commercial break. markets, back to them please, some clean, dow is up 260, nasdaq up one hundred 60. it is doing fairly well this morning, taking it on the chin recently. apple is up 153, meta-up 1.3% and amazon is up half of 1%. hold on a second.
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i will show you some truly shocking video. i want to warn you, it is what i call brutal, role tape. this is a homeless man attacking a woman on the subway in new york city. there is more of this. this is a brutal assault. the ripple effect and political repercussions are spreading out from this. meanwhile, the white house won't say if president biden thinks us cities are safe. role tape. >> does president biden think america's big cities are safe? >> isn't that a yes or no question? it is a question, what has he done? stuart: what exactly has the president done? brian kilmeade is fired up about this and will join us next. ♪
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after all the losses of the last couple weeks you got a modest bounce and it is still holding, the dow industrials 320, nasdaq up nearly 200 points, the 10 year treasury yield, 3.92%. that is a problem for big tech. when that yield gets near 4%, big tech takes it. as for the oil market, we are up $2 a gallon, a barrel, $78 as we speak. we have a new investigation suggesting some uber drivers really worry they are being used as drug. lead we to nbc news spoke to 6 drivers and they are concerned that unknowingly to them they are being used as carrying narcotics to dealers in fear if they report a suspicious package to authorities the dealers will take revenge on them snapping pictures of license plates when they
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arrive. some report suspicions to police and uber and both investigate but there needs to be a solution which when you have people saying i think this is a drug deal happening, that is a cartel, activity of the cartel. should packages be screened and should there be background checks for customers. stuart: no easy answer to that. can't answer that easily. it distant:51 eastern meaning brian kilmeade joins us. moments ago, we showed our viewers brutal video from a new york city subway attack. you have seen it. the white house was asked if president biden thinks are big cities are safe. watch the response. >> america's big cities are safe? >> and that a yes or no question? it is very much a question of
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what has he done? what matters is we have the funding at have done the work, putting policies forward not to make sure that these cities, whether it is big or small, have what we need to protect the community. stuart: all over the country we are seeing violent crime in the white house won't answer to it. >> i'm not convinced the press secretary sit in the meetings and talk to the president. her answer was inadequate and not accurate. what you have to do, with a country of 330 million people, at the every city in every mayor, it will be safe. i always want to make sure i am doing everything possible. we are funding police forces, no we are not. in the rescue package you gave states money and said put into the police force. minneapolis, didn't put a dime into the police force and in new york, a billion out of the
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budget and when that happened and they are taking the badge and putting it down, retiring early or quitting period. i will not go to the academy and do this so a combination of week das, state legislatures and a lot of these cities saying i'm not going to prosecute crime and then cops go i don't want this job, not a great job, i do better in the private sector and it is not appreciated and it is dangerous. the answer is simple. disappointed in what is happening. contrast that with this. when it started happening in portland and seattle, donald trump woods sent federal troops. then became the focal point, the pushback, the federal government doesn't belong here. you want the national guard to go into chicago instead of separating gang members and providing security to the streets? how dare you, republican president, get involved in a democratic city? as this president rolls back, this president pulls back and says i can't get in legislatively,
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constitutionally, this president threw up his hands and the problem is the police, and not saying anything different, and then side with the criminal. is afraid to sign anywhere else. stuart: there's got to be a political response to the crime we are seeing in big cities. i have a new -- this may be positive for republicans, a new poll shows republicans hold 21 point lead in battleground districts, some battleground districts. that is an abc news washington post paul. i wasn't expecting that, that is a turnaround. >> you've got crime, inflation, the economy and maybe abortion if that comes up in the border. a lot of them in at a default, the policies were so bad for secret agenda we don't know
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anything about. that is caving in this economy and this country. the fed raises rates, we didn't curtail spending. all hell is breaking loose, that doesn't surprise me. what does surprise me is between 7 to 10 point lead, i don't get that. if you want to see bernie sanders 20 years younger it is fetterman but less healthy than and 80-year-old bernie sanders. don't understand people of pennsylvania giving him the edge. i'm curious to see how herschel has surged past but not much past moreknocked, rubio won't have an easy time in florida but will prevail, jd vance harder than he thought it would be with ryan but for the most part, the matchup to matchup, i think as far as the country goes republicans are winning by default.
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we've seen democratic programs. we know the math. it is not working. we one that is true. thanks as always. we will see you again soon. good luck on your radio show. still ahead, the mayor of miami, francis suarez, lisa booth and bill mcgurn. conservatives are winning elections in europe, to the left this is a 5 alarm fire, their political dominance is threatened. the rabbit hole democratic socialism and a lot of them are going the other way. that is good news. that is "my take" next. another busy day? of course - you're a cio in 2022. but you're ready. because you've got the next generation
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>> the federal reserve will keep raising its target rate and shrinking its balance sheet so the outlook is not good. >> all the signs point to a slowdown or bigger slowdown and also not a soft landing but a hard landing or longer recession. >> 15, 16, 17 to watch for so we can determine whether or not we hit the bottom and i can tell you none of them are signalin
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