that'll allow individuals to seek assistance from fema -- maria: you're listening to governor desantis talking about the damage of hurricane ian. have a good day, everybody. "varney & co." begins right now. stu, take it away. stu: good morning, everyone. we're waking up to disaster in florida. it reveals death and destruction. ft. meyers took the worst of it and the sheriff of lee county to the south of ft. meyers saying there's hundreds of fatalities. ian is now a tropical storm slowly making its way towards georgia, but its dumping feet of rain as it goes. for eastern and central florida, it's the water that's the problem. for the next three hours, we'll show you southwest florida and

we'll be joined by congressman representing lee county. to the markets, i'm going to call this volatility. hard to keep track of stock prices up and down all day. right now we have the dow looking towards a 300 point loss for the dow industrials. remember, it was way up yesterday, straight down today. s&p 500 up maybe 50 -- sorry, down 50 and the nasdaq down about 200 points, that's another selloff. the market upset by a report this morning showing inflation still running strong. the bond market all over the place as well. this time yesterday, the ten year treasury yielded 405. then it dropped below 380. a stunning move now it's back to 380. with the two year still way above the ten year, it's at 422 right now so you're 'til indicating recession from the treasury market. better take a look at this, gas keeps going up. 378 is the average for regular

and that's a increase of 2-cents and we're told it's not the result of the hurricane. california has gone straight up at $6.18 on average for regular and that we are told is a result of refinery problems. politics, the gas just keep oncoming. the president looks out on the crowd and tries to find a congresswoman and had forgotten she had died in august and says he wants to run for a second term. in south korea, vice president harris mistakenly talks about an american alliance with north korea. i'm going to try to turn positive and here we go: aaron judge hit home another 61 last night tieing roger merris's record from 1961. judge's mother and roger merris jr. watched him do it. how about that? that's a nice way to end the opening of the program i'd say. thursday, september 29, 2022, "varney & co." is about to begin.

>> stu: well, southwest florida is indeed waking up to devastation and death this morning. ian brought a storm surge and 150 miles an hour winds in ft. meyers the wreckage is frankly everywhere. ashley webster is a little further north in st. petersburg. ashley, what's it like where you are now? >> we were very lucky when you look at some of the remarkable harrowing images south from ft. meyers area and we were lucky in the tampa st. petersburg area and not to say we didn't have some damage and the rain finally stopped earlier this morning and the wind still gusting but

conditions will improve here as the day goes on and as tropical storm now ian moves further off to the northeast, there are trees down, there are traffic lights that are out about 80 or so just in the st. petersburg area and people are being told here don't go out, stay home, let us clear up and then things will get better. some of the bridges from this part of the city over to the barrier islands will start to reopen. that is another good sign but again, what we're seeing in ft. meyers is absolutely defending devastating. i can tell you overnight as the tomorrow moved into central florida, orlando was sucked with heavy winds and drenching rains. 10, 12, 14 inches of rain and herd of boat rescues in kissimmee and could end up with 14 inches and a storm surge on the northeast florida coast. governor desantis speaking we saw at the end of maria's show there, the president approved disaster aid to be available for

those in florida counties that have been especially affected and we expect that to continue to widen as more damage is reported. another good sign, stu, tampa international airport could reopen later today. we are waiting for that announcement, but certainly things here we were thinking maybe a direct hit, it didn't and went south and people here are very grateful for that. stu: ashley, we'll be back to you shortly. got to deal with the markets now. adam johnson is here with us this thursday morning. you're looking at inflation. >> i am indeed. stu: you're saying, look, when inflation peaks and on the back of inflation, then the market can do something. this morning we got news that inflation is still with us at a very high level. the back has not been broken. >> no, it hasn't. unfortunately at this point we're lurching from data don't today tafanely point and yesterday e -- data point to data point and new home sales down 22% and home prices are going down. from an inflationary point of

view, you want them to go down because they've gotten a little too high. then we find out this morning that that pce core inflation number that the fed likes to watch, back in the second quarter, which is rear-view mirror stuff and nonetheless higher than we thought so now all the sudden bond yields are up. they're lurching from data point to data point. stu: each new data point suggests that the fed is in no position to pivot. no position to soften up. >> no, and unfortunately we're being held hostage until we get some sort of clarity. we need to get to a point where you can second enough dots and see, oh, home sales came down. inflation came down. gasoline prices coming down. we have argue seeing a peak in inflation and supply chains are normalizing and commodity prices coming down ask shippingt 40% --

you're looking at me like crazy. stu: we're not there yet. >> no, we're not and unfortunately till we can get clarity on inflation and inflation coming down, we'll be held hostage and have the volatile prices. stu: that's what we've got today. look at that. down 300 on the dow, 200 on the nasdaq. >> and yesterday we were up 600. the important thing for investors to do right now is appreciate that, yes, there is volatility and there is noise but focus on the long term. if you can focus -- you know. focus on the long term. do you think warren buffet is selling here because of a bad inflationary number this morning? stu: i don't think so. >> no. that's what the rest of us need to do. stu: we like optimists. >> it's not easy to be one these days but we'll get there. stu: president biden doubling down on his warning to the oil industry too as hurricane ian devastated florida. watch this. >> forgive me, i want to add one

more warning, that's warning to the oil and gas industry executives: do not, let me repeat, do not, do not use this as an excuse to raise gasoline prices or gouge the american people. stu: the response of the oil industry, in an unfolding weather industry, we're focused on keeping the market well supplied and ensuring the safety of our work forces. gasoline prices are determined by market forces, not individual companies and claims that the price at the pump is anything but a function of supply and demand are false. professor brian bremburg step into this please because the oil industry is right. >> the president is an economic illiterate and he's wreckless every time he opens his mouth on the economy and this moment it's entirely unhelpful and he's the leader of the country and should not be talking about price gouging and inspiring confidence but he never seems able to say the right thing at the right time. stu: he can't get over big oil.

>> no, because he knows he's responsible for us living on the razor's edge when it comes to energy. that's his thing. he is the one who has depressed that industry and so when we're on the brink, it's because he has failed to give us any buffer. strategic petroleum reserve? who drained it? president biden. we need it in moments like this but he has nothing to say except warnings to the industry. stu: stay right there, you're going to be on the show for the rest of the hour. okay. we've got jake wood with us. he's the chairman of team rubicon. jake, welcome to the show. i'm intrigued. you have a way for corporations to donate in emergencies allowing individual employees to decide where the money is going. can you explain that? >> that's absolutely right and thank you for having me and our hearts out to the people impacted by the storm. i run a company that offers solution for employers to

empower their employees to support moments like this and send donations to organizations that reflect how they want to support like an organization like team rubicon, absolutely. stu: if a company comes to you and says, look, we want to be charitable here. we want to give funds for emergencies. they say each individual employee can decide where their share of the money goes. so if anti-seek story yule rights act -- an annual rights activist puts money into a fund, they can decide where it go s? >> that's correct. we believe in knocktizing access toes -- de-centralizing the funds. stu: how many corporations are doing that right now? >> yeah, there are hundreds of companies that are finally taking this approach to saying, like, listen the ceo may not know the best decision that can be made in this moment for the people of ft. meyers for example. so we're going to empower our

employees in this issue and how they think is best for that moment to meet the moment. stu: that's a very good idea. real good stuff. jake wood, thanks for joining us. we do appreciate that and hope corporations take you up on this novel giving method. thank you, sir. all right, big show coming up for you. here we go, president biden seemed to have forgotten about the death of indiana congresswoman when he called out for her. roll tape. >> i want to thank you all of you here for including bipartisan elected official -- jackie, are you here? where's jackie. didn't think she was going to be here. stu: what the white house said about that fumble. ian hit florida at near cat 5 strength. we're getting a first-hand look at devastation and florida congressman that represents lee county in the middle of it. we'll be back. ♪

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governor desantis at the podium giving an update on what happened overnigh. counties unconfirmed and rescue operations are now underway. he says lee and charlotte counties are basically off the grid. 100 portable cell towers are being deployed and central florida looking at potential big-time flooding and we're going to keep you updated throughout the morning. joining us now is congressman byron donalds and his district includes lee county where the

sheriff this morning said there are hundreds of fatalities. congressman, the governor would not confirm those fatalities. are you in a position to say what's really going on with fatalities in lee county? >> we now -- i know of one confirmation. i can't confirm the others. we do have reports of pieces of equipment being moved into the area for potential fatalities in the hundreds and right now i can't confirm it. stu: what damage are you seeing? i'm talking about ft. meyers because it seemed to have taken the worst of it. >> yeah, basically anything from bonita beach all the way going north through cape coral has heavy damage. one of the iconic restaurants on bonita beach, dock's beach house is blown out completely. centerville causeway, 50 feet of the causeway has been completely destroyed. we have a sinkhole that formed under the maclashae bridge and

made the island completely unreachable right now and there's other devastation and having issues to deliver water throughout the county and may have to deviationuations -- do evacuations of the lee health hospital right now. it's devastating right now. stu: i don't believe much of ft. meyers is considered to be in the flood zone so this is a most unusual occurrence. but it also occurs to me that if it's not in the flood zone, a lot of people would not bother with flood insurance and now may be uninsured, is that accurate? >> well, i think a lot of the area actually is covered by the fema flood map so most homeowners have to go ahead and get flood insurance, especially if they owe money on their homes. if the homes are paid off, that's the question on do they decide to keep their flood

insurance? that's something all together. maybe inland around the lehi acres, that area appears to still be okay but if you're on mcgregor boulevard and along the banks and if you're in downtown ft. meyers dunbar area, city of ft. meyers prommer, cape coral is basically a series of interconnected canals so there are issues and reports of people's homes and barrier islands and c captiva islands ad more are overwhelmed. stu: what response from the biden administration? >> right now it's all hands on deck. fema and the emergency department are working together and i was at fema getting a briefing about the status of their materials coming in.

that information and work flow seems to be going very, very well and i know there are aerial assessments going on as we speak of some of the key infrastructure in southwest florida and they're being very supportive. >> stu: congressman, we feel for the people in southwest florida and we want to let you know that congressman byron donalds, thank you for being with us. appreciate it. >> thank you. stu: as the hurricane hit florida, joy behar on the view criticized governor desantis. lauren: she said a few things and showed no sympathy even in disaster, here's the first thing she said. >> i am not in the pu pews of te church of the global warming leftist and this is what he thinks about climate change and now his state is getting hit with one of the worst natural

disasters. lauren: that's one slam and didn't stop there. they were talking about president biden and desantis working together and she quipped, well, isn't it socialist to take help from the government. stu: oh, dear. lauren: mocking desantis for his whole platform is antisocialist. stu: brian is issuing to get into this. brian: how senseless and callous to make these remarks in the middle of what's happening. all desantis said is i follow the science on this. this is not a religion for me. i'm not worshiping the cult of climate change. just give me the data, show me the tradeoffs and i'm the governor. i have to govern. stu: yeah. lauren: and we'll have this conversation later after the cleanup and you see. the damage. stu: trying to play up the climate change and didn't go down well.

lauren: let's show you the exchange here. >> what effect does climate change have on this phenomenon and seems these storms are intensifying. >> can't link to any one event. on the whole, on the cumulative, climate change may be making storms worse. but to link to any one event i would caution that. lauren: he needs a reason for the storms intensifying. brian: don lemo lemon wanted to inflate that claimant change bubble and he said, no, you can't do that. you can do whatever you want with your show but right now, we're going to talk science. stu: nicely put. thank you, indeed. the futures market because we're going to open the market in six or seven minutes and see some red ink. we'll be back with the opening bell. ♪

stu: couple of hours ago, we got a report from the lee county

sheriff who said there are hundreds, plural, of fatalities in his counties just south of ft. meyers. moments ago florida's governor ron desantis said there are two unconfirmed fatalities and says that we don't know that they're linked to the storm. okay. lee county number from the sheriff, hundreds of fatalities that apparently came from people calling in 911 about rising water in their homes. so ratchet it down a little bit there. futures still pointing to a sharply lower open this morning after the big gains yesterday. down 200 for the dow, 160 for the nasdaq. dr barton is here. dr, we asked you to go out and look for bright spots in this market, and i think you may have found one. you're saying consumer spending is a bright spot. tell me more. >> yeah, you know, we got really good news earlier this week just a couple of days ago from none other than mastercard and their economists have to do a lot of

work to prepare for things looking at holiday season coming up, stuart, and they're looking atd a year over year gain of 7.1% on holiday sales. that's a pretty big deal and consumer spending is right now just about two-thirds of our total u.s. gdp and gross domestic product and that is a big, big deal for us and the retail sector has been going up the last couple of days while the market has been going down and everything lifted up yesterday. stu: did you see bed bath and beyond they reported this morning, what do you make of their report, the stock is not doing very much.

>> i think the bed bath and beyond news was positive in that it met expectations and that's about the best we can do for a retailer like them that's a hunkering downright now. stu: do you think the meme stock thing and the spac thing and to some degree the crypto thing. is it over? >> no, stuart, it's far from over. i think the crypto thing is certainly far from over. that's going to be with us forever i believe in some way, shape or form because that technology is going to live regardless of what we do with de-centralized currencies. now on the meme stocks, yes, that will be something that we'll look back at in a couple years and go, yeah, that fad has passed. stu: glad to hear it. okay, dr, thanks very much indeed. i thought they were gambling chips and i didn't like that.

wrong aspect. >> don't want to gamble? >> no, i want to invest. i don't gamble. brian: he's a long term guy. stu: i don't play the slots, i don't gamble or play poker or scratch off cards. lauren: yet you're not patient. stu: i have no patience. brian: this is good, let's go. stu: we're in the news business, i don't do patience. the market is open and it is thursday, september 29th and almost into october. october is always a risky month, you know. we're almost there. lauren: september is the worst month of the year and we're done with it. stu: wasn't a very good month was it? down 179 in the very early going and i see six winners and 24 losers on the dow industrials: check out the s&p 500. 1% and the nasdaq composite down nearly 1.5%. how about big tech, look at that

all in red. apple 145, amazon 115 and met toe below 140 and alphabet well below 100 and i'm crying here. apple down and food downgrades apple. lauren: this apple story is a push and a pull. bank of america downgraded them tonight rale and took the price target to 185 to 160. saying consumer spending is weakening and happening with the services and it's about to happen, slowly happening with the devices, which confirms the bloomburg report we spoke about yesterday and apple telling suppliers to cut production. but then this is why it's so confusing, ubs today says our own research shows really strong wait times for the iphone 14. so which one is it? brian: sounds like a dual. we've got a duel on our hands here. lauren: we'll find out when they

report earnings october 27. stu: tell me about lulu lemon. they're an athletic clothing company but didn't know they're getting into the home fitness. lauren: they have that mirror that's a device and it's interactive to work out in front of it. do you know anyone that owns one? stu: you can work out in front of any mirror, does it have to be interactive? what is this? lauren: i agree with you on that one but people like to spend money on interactive workouts. stu: it's a $1500 mirror. lauren: they're cutting the mirror in half because it's not selling well and now to boost sales for $39 a month, you can take all sorts of classes in front of that mirror. they're doubling down on at homework outs. people are going back out to the gym and want to be seen and work out in public. moving on. stu: we're deferentially done with mirrors -- definitely done with mirrors and lulu.

the next one here is bed bath and beyond. lauren: okay. stu: put it on the screen, thank you. lauren: in the premarket up around 5% and the ceo came out and said everything is a mess, we get that but we have this turn around in place. it's working, we're getting through all that inventory and slashing prices, we're going to break even with cash flow at the end of this year. but the numbers in the report were lousy looking at some of them. store sales down 20%, revenue down 28% so they have a lot of problems, which i guess is what investors are focusing on and not the turn around. stu: have you notice when had the market opens, every morning we don't concentrate on the bank stocks and investment banks and chemical companies and steel makers. we go for companies like apple, bed bath and beyond, peloton, mirrors like lululemon and people are interested in that. they know what's going on with the companies. brian: there's a story and investment to be made, stuart.

lauren: we don't care about the banks that hold our money? stu: i care about them. they're just boring. they are boring. don't you think? it's more interesting to talk about lululemon's $1500 mirror than whatever it is. brian: do you want to be interesting or make money? stu: i want to attract the audience. i want to give our audience news and information on the companies which they know about and care about and that's what we do. i haven't but some of the audience probably have. what's the story? lauren: show me the stock, down 15%. stu: ouch. lauren: enormous profit miss and i won't bore you and they missed by a mile. used cars are expensive. we can't afford them so we stopped buying them and i can prove it. in the quarter, unit sales fell 10% at carmax but their prices rose and if you look under the

hood, you find out why, it's a major affordability problem and that's an instance of it. stu: another company that a lotted of people know and use, it's rite aid. lauren: down 16%. they've lost and cut their forecast so a miss and a slash for the future is not good. but look, fewer people getting covid tests and covid vaccines and pharmacy unit didn't do well and units fell and closing stores and cost money up front and ceo said we're seeing pressure on consumer spending and on the supply chain in the back half of the year. the stock goes down even more. stu: tesla, they're adding to their board i think it is. one of the cofounders of airbnb. what's the significance? lauren: for me, i think there might be a bigger relationship of installing charging stations in people's homes and i'm going out on a limb perhaps and there's been some talk of that but anyway, joe will replace

oracle's ceo on the board. we'll disclose soon if there's talk on the strong talk about sensorineural phoria. stu: sephora is the cosmetics people. what are they doing to compete with the other retailers? lauren: beauty emergencies are a big thing. stu: beauty emergencies? lauren: s they have a subscriptn emergency for $49 a year. if you have a pimple that pops and you happen need your cover cream, they'll deliver it right to your door. why would you need shampoo or mascara delivered same day? i have no idea. stu: i can't answer your question. lauren: the crowd goes silent. our life is by subscription lately stu: stuart will have two of those mirrors. lauren: sephora is a subscription and want to watch something on tv, you need a subscription.

stu: i have a beauty emergency every morning. comes around 8:55. all right, folks, wrap it up because, look, we're having a good old time here but the dow is down 300 points and that's not funny. coming up, texas voters, hispanics in particular support busing mutant arkansas grants -- migrants out of their state to other parts of the country: i'll ask texas congresswoman myra flores if she agrees. and criticizing desantis for getting along with administration officials during the hurricane. we'll take it on, next. ♪

stu: 11 minutes into the trading session and we're down 383 points for the dow, 240 for the nasdaq. another selloff after yesterday's big gains and an emergency crisis and damage from ian could make that problem worse. edward lawrence at the white house. how does it make it worse, edward? >> yeah, almost all of the oil rigs in the gulf of mexico have been shut down from producing oil and nine refineries in louisiana just in case have been shut down. those refineries making oil into gas and that's about 13% of the market and that'll be a blip on the short term but there's still an issue going forward. you have rising oil prices around the globe and those prices are causing rising gas prices. now, the president looking for someone to blame but the ameamerican petroleum institute saying you can't blame someone. listen to this. >> that's not how it works. the price of gasoline is really determined by the price of crude oil. that's the main determinant and

the price of crude oil is set in the global marketplace and it's a function of supply and demand. we've seen significant demand coming out of the covid pandemic and supplies have not kept pace. there's a number of reasons why supplies have not kept pace. >> he's responding to the president saying gas companies and gas stations should lower prices and the president always looking for someone to blame here. listen to this. >> looking into whether price gouging is going on, america is watching and the industry should do the right thing. as a matter of fact they should move more quickly now to bring down the price at the pump because gasoline is down and the price of gasoline is down a great deal. there's too much of a delay between the price of a barrel of gas and crude oil and the price of gasoline at the pump. >> so president biden has been calling for these investigations from the ftc for about a year ago and the ftc found no wrong doing in price gouging by the

oil companies or gas stations because of the price of gas. back to you. stu: edward, thank you very much indeed. i have to tell everyone the price of gas gained another, went up another 2-cents overnight. it's actually up 10-cents from last week. $3.78 is your gallon of gasoline that would be regular nationwide. gas buddy guide patrick dehon joining us here. patrick, how much does a storm like ian affect gas prices nationwide? >> well, stuart, thankfully not much at all. we saw some offshore oil production shut down initially after ian's projected track was in the panhandle of florida but much of that has been restored so no refineries have really been shut down because of ian so this is going to be a blip but having said that, there's many refinery issues in different regions of the country. california seeing a lot of refinery issues and their prices up over 50-cents a gallon from a week ago as well as prices jumping in the great lakes and

plain states. at the same time, stuart, prices going down in the gulf coast and the northeast. stu: you've got to tell me about california again because we have the average for a gallon of regular in california now at $6.18 a gallon. that's just up 15-cents overnight. how many refineries have run into trouble in california? >> well, stuart, at latest count, i count at least four. now some of the problem lies in the fact that refineries normally do maintenance in fall because demand goes down after the conclusion of the summer driving season. not only are some refineries down for maintenance for the next month or so and we're seeing unexpected issues in northern and southern california and keep in mind those refineries serve markets like las vegas and phoenix where prices are also going up. suddenly because of maintenance and unexpected outages, gas prices in california could get close to their previous high water mark, which by the way was $6.46 a gallon in mid june and we could get close to that on

the west coast but that does not tell the full tale. gas prices moving in different directions depending where you are in the country. stu: now, new jersey is going to drop its gas tax just 1 cent a gallon. you know, patrick, i don't think that's going to make that much of a difference. >> it's not, stuart, but when have we ever seen taxes go down. the only thing in live death and tataxes and some states as well and new jersey going down a penny and some states are continuing their gas tax holidays and georgia is one of the states where a tax holly exists -- holiday exists and in florida, the holiday was instituted in september and florida will see lower prices and coming in the weeks ahead instead of gas tax holiday kicks in. we certainly are compared to the summer. gasoline demand has inched down and we saw a bit of a spurt especially in florida approaching hurricane ian and now we're starting to see a cooloff in gasoline consumption,

but with all the refineries shut down, stuart, that's a little comfort and that's why prices continue to go up. stu: where i am in the northeast, i'm still paying well over $5 a gallon for diesel, and i noticed that the national average is still at $4.87. what's the prospects for a real decline in the price of diesel, any chance? >> not so much, stuart, especially ahead of winter. of course a lot of those northeastern homes still use heating oil in the winter months. that means that diesel's demand peaks in winter instead of summer so gasoline peaks in summer, diesel in winter so don't expect much of a break especially when it comes to the price of diesel. depending on too, mother nature and more notably northern northeastern refineries lost a lot of capacity in the last few years and could be a painful winter for both farmers bring up crops from agriculture and to heat your homes because of the lack of diesel fuel in the markets. keep in mind, diesel supply 18%

below the 5-year average. stu: ouch, i put diesel in my tractor so i know all about it. always appreciate it, see you soon. brian: it's a refinery shortage in the short term and think of the vulnerabilities for a second. opec+ thinking about production cuts. that means gas prices go up. you've got a pop line under attack -- pipeline under attack and a hurricane season. what kind of buffer does america have against all of that? stu: we don't. brian: almost nothing. that to me is going to be the energy story going forward. we are living again on a razor's edge that's not where you want to be heading into winter when it comes to energy. stu: look at that. on the bottom right hand corner on the screen and dow popped to 500 points and wiping out of yesterday's gains i do believe. we're down 500 at 29,100. coming up, don't forget to send in your friday feedback. e-mail your questions and comments and critiques to varneyviewers@fox.com and then

there is this. >> i'm really excited about this new book. i want everyone out there to know that you are loved, and that god has a purpose and a plan for your life and you can make a big difference in this world. stu: that is fox's very own ainsley and has a new children's book, i'm so glad you were born and she's here later to give us a preview in the show. ♪

stu: hurricane ian causing a major problem for the production of fertilizer. jeff fox with us from pennsylvania. all right, jeff, what's the connection between the hurricane and fertilizer and what does it mean for food prices? >> nothing good for food prices but that's an old story, stuart. yeah, you can see the corn back behind me there, this is harvest time. it's ready to be harvested so it's not a peak demand time for fertilizer but the hurricane yesterday after coming off the coast went directly over one of the biggest fertilizer

production facilities in the country, that's the mosaic company facility in polk county, florida. it's shut down and unclear at this point how much damage there but last time a hurricane went anywhere near there, it was a huge drop in production and already fertilizer prices are through the roof, which means another input cost for food prices, which as you know took their biggest jump in the last cpi since 1979 so one thing piled on top of another. and the analysts say everything from the damage done to the growing areas in florida to that fertilizer issue is going to just drive prices up even higher. >> there's concern about storm surge, there's concern about flooding. things that could impact land use whether it's for growing crops, whether it's for the fertilizer and eventually those things work their way into ingredient costs and work their way down through the system and

prices we see in the grocery store. >> one thing after another, stuart. i didn't realize but that's a huge phosphate mine down there in the center part of florida and that's shut downright now and not good news at all. stu: that is the news of the morning and that's very important. jeff flock, thanks for bringing it to us. good stuff. i didn't know there's a phosphate mine down in florida. brian: i think it's something like 50% of granular fertilizer is coming from that area and it's a very high percent and how long concentration. think about -- high concentration and food prices will matter the most into the midterms and everybody is watching that. stu: yeah, because everybody eats. brian: got to go to the grocery store. stu: big board down 130 point-blankpoint-blank layups p, visa and merck and s&p 500 winners and visa, oxy p, ro, ros

and coming up on the show today, we have with us senator marsha blackburn, ainsley earhart and brian, thank you for joining us for the hour. you're a glutant for punishment. see you again. ♪

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stuart: good morning, everyone. 10:00 eastern. fox weather tracking in which is now tropical storm just passing through, hitting a little bit of central florida. we are seeing extraordinary video from when ian made landfall as a category 4 hurricane. it brought record storm surge leaving homes and businesses