the number tells the story. lauren: it fell to 56.7 in september but not as much is expected. you have a decline that could have been worse. stuart: a non-event, so significant but it is not, the dow is down 300, nasdaq 180, now this. two hours ago opec plus opened its first in person meeting in two years. they got the urge saturday, get over to vienna fast, you need to be here for this. in the middle of a war and local energy crisis, it is a big deal and it is a big deal, they have agreed to cut oil production 2 million barrels a day. this is an embarrassment for president biden.

he begged the saudis to increase oil output but at this meeting they will cut big time. they want the price to go up and it is going up but that's a problem for the president. he has taken credit when gas prices went down but now that prices are rising again the white house blamed putin. before that he blamed the oil company's, before that it was gas station owners. what will he say when the price of gas now at $3.83 a gallon goes to $4 as it probably will, it is well above $5 in oregon, nevada, washington state, and in california, $6.42, and those on your screen, they are all democrat states. and voters do not like high gas prices, and american energy ran

the show, now they don't. and they are telling the president to get lost. biden won't do it. he's married to the greens wants a divorce, and the second hour of varney is getting started. liz peak with us -- is opec going to hurt the democrats, i bet you're going to say yes. >> fuel oil goes up, cleaner heating season, more important than gasoline. and the fed will continue raising rates, throw the

economy into recession like a chain reaction. what is so stupid is what you said, biden could turn this around, could have turned this around, this is on his plate. we are producing 12 million barrels a day of oil up from a year ago. and we should be back to 14 or 15 million barrels a day, and opec will not have this control over our economy. it is an outrage. we talked the stretch to revenue opals. it is 5% are evs, it is not anytime soon the we move away from gasoline. stuart: never understood why president biden from day one was so involved with the greens, he followed them down the track, why did he do that. look at the results. he will get hurt politically for this. >> he has been hurt politically.

there's a lot of big money donors in the democratic party fixated on climate change and i think what is troublesome is i don't think there is a national strategy or plan to enable the switch to renewables without tremendous disruption to the economy. incredibly upsetting, it happened in europe, europe is ahead of it, they are pushing harder to make the transferral to renewables and look where they are and their problems where there gas prices are four times ours started way before putin's invasion of ukraine, started when the wind stopped blowing in the north see last august for 6 weeks. electricity prices doubled. you cannot force this renewable mandate before we are ready for it and we are not. stuart: we are not. stay there for a moment, something else later on. tesla's chief executive elon

musk has agreed to proceed with his plan to buy twitter. what is the latest. lauren: twitter hasn't agreed to end the litigation so it is not clear where elon musk stands, might not be able to sell it in this market so the reoffer of $54.20 still stands. technically there is no deal because twitter hasn't agreed to and there is 0 trust between the parties. how do you do this? have you seen what employees are saying on messaging boards? he's an angry, triggered billionaire owning us. if you were mad in april when he was buying the company, your even more mad now because your resentment has built. what does he do with the company? that is what everyone wants to know, elon musk tweeted overnight he wants to make it create the x everything apps. stuart: liz peak wants musk to

take twitter. >> we need an actual honest open platform which he has promised him a virtual town square but is twitter going to stand in the way of making this deal? i don't think so. they may want to see him get further in his financing. i looked at the numbers, he is still 10 or 20 billion short. if musk wants to blow $40 billion creating something the country desperately needs, honest social media platform go for it. stuart: fox news has been talking to voters in texas ahead of the midterm elections which are 34 days away. what are their top concerns? lauren: they got these reactions from el paso. >> are border is not secure. i may latina and i believe

people should come here with their papers. what we have going on is not okay. >> wouldn't let anyone walk into your house without asking who they are, where they come from or their intentions are. >> inflation is really high, we don't know where it will go down, have a good plan of making it easier to live in america. lauren: one woman felt the change in leadership in the white house from the trump years what happened on the border until now, others use words like volatile to describe their life doesn't sound good heading into the midterms in a month. stuart: thanks. as we head into the holiday shopping season retailers are warning sales could be muted because of inflation but larry chang is with us. he knows this area. and what way will holiday shopping be different this year?

>> will start earlier because of an inventory from the prior holiday or the supply chain constraint. the sales coming earlier as well, when amazon prime day starting next week, it is good for the consumer, there will be heavy markdowns and it will be a longer season but product in stock is not the case last holiday season so even though were in a fixed line or challenging period we may squeeze in better than expect holiday shopping season for consumer spending. blue one offer me an early discount and i am in and that is a fact. here is tiktok, and influence on holiday shopping and if so how? >> look at three generations of shopping. you want to buy something, there's a transition and you

have a younger generation searching around shopping and social media platforms like tiktok and instagram, they are engaging on those platforms because that is the way to engage the next generation of consumer at the point of purchase and those platforms are enabling different capabilities rather than advertising those capabilities so they are inviting the shopping experience as well. blue one what are they pushing us toward? tiktok is for younger people. what are they being pushed towards? iphones? high end electronics? >> there are beauty brands, food brands that are very engaged on tiktok, consumer products like portfolios leveraging social media, you see companies, water brand that has 2. 8 million followers on tiktok. anything, even apparel brands, the mindset of the younger

generation is not to go to google and pay first or even necessarily amazon, tiktok, snap, and so forth, that is where they see what friends are recommending. but when do you spend your day on tiktok seeing what is going on? >> i spend more time on instagram than tiktok because tiktok -- their recommendation will recommend too much time and i understand by the next generation is like that. stuart: we should tell everyone larry chang's real job is following the stock market. you tell us about the market, very interested in holiday shopping. we've got some movers for you. the dow is down 360 but we found a winner. lauren: they are up 1.3% because oil is getting a 2 million barrel is a production cut biopic plus but exxon is

signaling a when they report third-quarter numbers at the end of the month they will be pretty good, we could see record profit near $18 billion they reported themselves. blue one just to be sure, opec has agreed to cut production 2 million barrels a day, that is based on reuters report where they checked three sources from opec saying 2 million down. general motors. charles: lauren: morgan stanley prefers ford, they cut the price target to $30 which which is 16% decline from where it was yesterday. stuart: tesla. lauren: it is down 4%. he needs to start delegating response abilities because if he does indeed get twitter, let's be the free-speech town hall, that is great but you have to have someone to deal with this. stuart: i would love to see the situation between you and elon musk, you got to delegate.

stuart: he tweets something. thank you very much. we told you about rainbow fentanyl. candy colored pills in a children's lego box, not good ahead of hallowing. three of four people arrested for living in florida are illegal migrants. watch this. >> they try to lose and ransack in the aftermath of a natural disaster. they should be prosecuted but need to be sent back to their home country. they should not be here. blue one florida congresswoman cat cammack will take that on. thousands vehicles were rendered inoperable from water damage after the hurricane. madison allworth will tell us how this will hit the rest of the auto industry. ♪ it's beautiful. ♪

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like this you see this but that is what we are hearing from officials that they are saying scams are already happening, it happens every time you hav onl

issues with the cars in florida but this is most likely going to impact unsuspecting buyers across the us. take a listen. >> we know what is happening now that the vehicles that should be certified by the state of florida by law are currently being moved out of the state to be resold in other markets in the 59 states and abroad. we expect tens of thousands of vehicles on these enterprises. >> reporter: this happens every time but the reason they are issuing this morning early is because of the heightened market right now. we are dealing with inventory shortages for a long time now we've got inventory shortage that means scammers can sell

these cars for high prices and with the inventory issues across the us but now in southwest florida there is more problems, you saw all those people that lost their vehicles and this shop right here, seaside motor company, a used car dealership andf cars damaged in the storm because this was an area that was hit hard. the owner tells me have had cosmetic damage like this which looks horrible but he says is easier to fix. what he's concerned about is half if not almost all the cars could have that water damage, harder to see, harder to fix making it harder for people to get the new car they need. stuart: i can see that, tens of thousands of cars being shipped out and sold like that, a big problem. see you again soon, thanks. check this. president biden will meet with the governor of florida, ron desantis during his visit to florida today. i want to bring in florida congresswoman cat cammack.

i'm sure biden is going to be generous. do you think he's going to give aid based on race as implied by vice president harris? >> i can tell you as ranking member of the subcommittee on fema for the homeland security committee, no, it will not be distribute based on whatever box you check, it will be distributed to all americans in need regardless of who you are or where you come from. that is a fact and i've said before they need to hire mr. clean for press secretary in the white house, all they do is clean up the mess of biden and harris. stuart: it will be an interesting meeting. president biden and governor desantis are political rivals whether we like it or not and here they are hanging out largess in desantis state. how do you think that meeting is going to go? >> i think that the media is hoping there's going to be some sort of blowup but i believe

this is going to be a nothing burger. we've seen how these storms can define major political figures careers so i am expecting professionalism across the board. i expect it to be focused on the storms which we will put people above politics. my hope is the white house does the same, governor desantis will focus on the recovery efforts and making sure folks have what they need to survive the storm before, during and after so i expect the president will do the same. it would be a shame to turn this into a political statement so if he comes down here and touts off about climate change or covid vaccines that will be a bad decision on behalf of the white house. stuart: despite desantis's warning four people were arrested for looting in florida and three of them are illegals. this injects the migrant issue into the hurricane situation. i colletta complicating factor. would you?

>> you and i both know that biden has done everything possible to avoid seeing firsthand the crisis he has created at the southwest border. as much as i would love for him to go visit the three illegals locked openly county sheriff's office, and and looting a crisis, we need to be a 1-to-1 mission, into the periphery, we are second amendment state, foolish for people to play games in the middle of this and is much as i love to see that we will remain focused on recovery. stuart: 30 seconds left, should the migrants be allowed to work in florida cleaning up the mess. >> if they are here illegally, that is not acceptable.

plenty of people responding, i have seen license plates as far as idaho and montana, america is responding to this, we don't leave people behind, we are all hands on deck effort. that is accessible. stuart: thanks very much. appreciated. law enforcement officials seized 15,000 fentanyl pills in new york city, founded lego lots. >> 40% contained a lethal dose of fentanyl. that according to lab analysis officials did. this is the biggest fentanyl bust in new york city. the mexican drug cartels mass-producing drugs to look like candy and stuffing them in toybox is. to make a fatal drug to kids seem fun and harmless just one pill that one pill could kill

you, lethal doses. stuart: what reason would anyone construct a pill carefully which is a lethal dose of fentanyl, why would you do that? trying to kill us? >> money because you can. stuart: how would you do this. first time in 5 years, north korea fired a ballistic missile and it flew over japan. we have the latest on kim jong -- kim jong-un f latest provocation. resident biden giving ukraine $600 million worth of security assistance, adding to $17 billion. conservatives want to know when the help will stop. when will it stop, should it stop? ♪

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stuart: selloff, down 370 after two days major gains, down 250. some of the gains of monday and tuesday. boeing is moving big time. lauren: the dow was up 1600

points. it is leading losses on the dow, one dow stock in the green. getting approval to the 737 max 10 before next summer. stuart: sold the stock for $300 a share after the max jet. then we have schlumberger, the largest oilfield -- neil: said that the first, the year, it is a rookie mistake. stuart: are you sure it is schlumberger? lauren: just like when you run your tongue there. stuart: i'm just joking. lauren: we have to celebrity 2. 6% gain% gain today, what is the contract doing? they are teaming up to make lithium mining cleaner. there's big demand if they can do so in a cleaner, more environmentally friendly way.

stuart: goldman sachs, what are they up to? and they are down 3%. the reason is obvious. declining investment, stock markets falling so they cut morgan stanley. stuart: ukrainian forces continue to take key towns and villages controlled by the russians. take us through the latest? ashley: rapid and significant gains, it ukraine's camera offensive in the south, ukrainian president zelenskyy says dozens of settlements have been liberated across four regions that were annexed last weekend. none of the annexed territory fully operated by russian forces.

there are reports that soldiers, 1/3 army corps are often drunk, played by low morale and forced to use obsolete weapons on the battlefield and the troops in munich of been known to abandon positions and refuse orders. the biden demonstration has announced military aid to kyiv bringing the total amount to $16.9 billion since president biden took office. the number changes but it is a lot of money. stuart: good stuff. chris stewart, questioning how much financially we should send to ukraine. >> once the battle begins to settle we have to ask what is our golden ukraine, what is the proper amount of help now, and

between the partnerships, not only president zelenskyy but the eu, make an agreement on how to achieve this ukraine. stuart: christian widen joins me now. regardless what russian troops are doing conservatives like chris stewart seem to imply they want to stop the aid to ukraine or call it a end to it. what do you say to that? stopping aid. >> you push the ukrainian's to establish the settlement, we should be looking out for ourselves here primarily especially, the threat of russian nuclear war. ukraine turned the tide, great development. and if they add 300,000 troops which is the size of the ukrainian military that could

turn the tide against ukraine and it would be best for us and the economy to end the war sooner and get a tough love message to kyiv. stuart: they are on the run. the russians are on the run and there's no way they can retake the territory they 've lost. why shouldn't we now impose our will and win? why not? is that against our interests? >> i would argue we don't have clear vital national interests in ukraine, there is utility in demonstrating the downside of russian aggression which i think was done, not as optimistic as you are that russian advances are possible. if you look at world war i, world war ii, russo japanese war, afghanistan it starts badly, they don't when the first battle. they when the last battle.

it might be incompetent for about but very dangerous, they don't see themselves, with american money and american arms and american intelligence and put ourselves at risk of nuclear war. a very real risk that we need to be mindful of. stuart: president biden spoke with the prime minister of japan, the north koreans fired a missile that flew right over japan, serious stuff. do you think japan re-arms in light of this? >> i think so, they had the fact oh gdp defense spending, going to 2%, that's not a huge number, we are at 3% ourselves but for an economy is because japan it would be a game changer. beget whatever they need to do in north korea, this is a threat, north korea time and

again it will not be ignored. stuart: it is a client state, what say you. >> it is kept alive by the chinese government, it is nominally communist before that. they can do it. they enjoy the fact that it causes trouble for us. stuart: it is a poke in the eye for us, see you again soon. the army fell short of their recruiting goal, short by 15,000 soldiers but planning to keep military members out of they don't get the jab. >> the healthiest people in our country who are already sacrificing, worth kicking them out? >> would rather not lose anybody to the vaccine but it is the very -- stuart: that is very good debate. congressman andy biggs will join us in the 11:00 hour. how much higher could oil

prices go now that opec plus is cutting 2 million barrels a day? grady trimble has the story or is it $86 right now? probably going higher. back in a moment. ♪ ♪

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i'm sholeh and i lost 75 pounds with golo. i went from a size 20 to a size 6. before golo, nothing seemed to work. i was exercising for over an hour every day. it was really discouraging. but golo's so easy, the weight just falls off. there is not a metal in the world with more efficiency and reliability than copper and the transmission of energy. libero is focused on three significant assets all within the america, all focused on copper. and i think what's important to understand is 90% of the world's copper comes from open pit copper porphyry mines. that means several things near surface disseminated, but also size and scale. the mocoa project is significant because it's already a large project. it already contains an inferred resource of over 600 million tons. it contains over 4 billion pounds of copper, 500 million pounds of moly but it's still in its infancy. it's still

just an inferred resource. it's open in all directions from the amount of copper that's going to be required. we need big projects and we want to bring it to the world stage and demonstrate the size and scale. stuart: not good, nasdaq down 350 over two days -- days of big games. how about the price of oil, $86 a barrel. it cuts output 2 million

barrels a day. grady trimble, what does that mean for prices at the pump? >> it means prices at the pump are going to go up along with oil prices. you alluded to it, oil prices jumped immediately after news broke the opec plus countries are going to cut production as predicted by 2 million barrels a day starting in november, this comes a few months after president biden went to saudi arabia asking them to drill more. opec plus signaling they care more about their own self interests over the energy crisis in the us and in europe. with this move some analysts say oil prices could climb above $100 a barrel or higher. the national average for a gallon of gas is up $0.07 in the past week driven by the west coast states seeing double

digit increases in a week because several refineries are down. when asked about the impact of the opec plus decision, transportation secretary pete buttigieg pushed for drilling for oil in the united states and president biden's green agenda. >> i think we will be in a better situation where we are not dependent on a commodity that is largely being produced in foreign dictatorships, one of many reasons american energy security will benefit from homegrown clean energy. >> treasury secretary janet yellen was asked about the opec plus cuts, she had no comment at all so clearly the biden administration does not want to focus on rising gas prices as the midterms approach. stuart: that has got them rattled, thanks very much indeed. senate democrats want president biden to declare a national climate emergency.

he got the climate package so i push for this now? ashley: why not? liberal lawmakers say declaring a national climate emergency will build off recent legislative victories and unlock additional powers to address the issue. 8 democratic senators lead the push including usual suspects, who say the progress made in the inflation reduction act will not get the country to reach president biden's goal of cutting emissions down to half of 2012 levels. emergency declarations, there were critics of the trump administration's emergency declaration at the southern border claiming it was a misuse of energy powers, hypocrisy rules. democrats say the climate crisis is too big to ignore but not the crisis at the southern border.

stuart: sarcasm is a low form of wit. october 17th, a special program in the 11:00 hour, a live studio audience, and it is free, called varney and you. the big questions to varneyandyou@fox.com. first-time homebuyers feeling the squeeze. i will ask where the softest housing markets are. it is a week after the hurricane. search and rescue still underway. robert ray in the middle of it in fort myers, his report next. ♪

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stuart: heading for the south 370 on the dow. below 30,000 the nasdaq below 11,000, quite a selloff this morning. fannie mae, government housing operation issue new warning about the housing markets. what are they saying? lauren: it is the catalyst,

into a recession next year. the economy grows this year, look what happens in q1 of 2023, contraction of 0.4%, the recent additional warnings and mortgage applications fell 14%, mortgage rates are near 7% and you can hear in 1980 when i bought my house -- stuart: 12.5%. >> they fell 18%, first decline since 2020. the are age restoration, luxury housing, and if you don't think we are in a recession you are crazy. stuart: if you go into recession housing will put you in a deep recession.

president biden is en route to fort myers, he will meet governor desantis, robert ray is there. what is the president going to see? >> the president will see scenes like this of devastation all over the coastline. when he goes to fort myers beach, which is a corner mile from me he will see piles of debris that are incredibly deep, search and rescue continues complicating the search and rescue for them. this could last 5 to 7 days on these barrier islands and the economic impact, in the billions. it is one of the top 3 costliest hurricanes to hit the us. we've spent much time traversing this region talking to first responders about their

challenges and listening to people that lost loved ones. listen. >> responders have been working for the past week on what they call a complicated mission because of the amount of destruction and debris. in the days immediately after the impact, pulling residents out from under piles of destruction and a daunting and depressing process even for veteran first responders. >> tears. i've been on the job 30 years. tears. tears was my first reaction if i had to give your, tears streaming down my face for what this torment to my community and to this community that i served all those years. >> reporter: for many here lots of home and business is widespread in creating anxiety and intense grief. and loss of life and the mental anguish is unbearable. >> the other thing is losing a dear friend who posted on

facebook, water is coming in, waters coming in, his last post said god, i am scared, that is it. like i said, stuff can be replaced, friends can't. >> reporter: back here live on the road, president biden, the first lady and governor ron desantis in the coming areas, they are down here, to southwest florida. if you look here this very ever activity, convoys of vehicles coming in and out of the barrier islands, power is on its way to being restored, 300,000 still out of power and some of the areas that have infrastructure, they expect that to be restored by the end of the week. in the meantime dozens are dead, the death toll rises. stuart: thank you very much indeed. we now have the new host of mention global. welcome to the show. how long will it be? how long will it take for the housing market in the affected areas to recover in any way,

shape or form? >> reporter: i was born and raised in miami and selling real estate for two decades now and i did endure hurricane andrew and it takes years to rebuild. it shouldn't be taken lightly. when you move to florida it is a risk that comes with the territory. stuart: home prices in florida have gone straight up as newcomers poured in from the northeast. are those newcomers still going to be coming? now you face the risk if you rebuild them you buy house, you face a risk of flood damage and you can't get flood insurance. that's a real problem. >> reporter: it is. i feel florida has been extremely resilient. insurance has become an important component of homeownership in florida. it is something you need to consider now and it will be interesting to see we have a great governor and who is helping with these recovery efforts and fixing the destruction. stuart: you know the real estate market, you look all over the country, which markets are slowing the most, cooling fastest?

>> i have to say the west. certain markets like florida for instance, national, texas which continue to do well because of the influence of people coming from the northeast but i have seen the west suffer the most. stuart: california, oregon, washington, prices down, demand down. what is the story? >> demand down. i said i felt covid would help bring us out of any kind of recession. what is happening is we see a slowdown with the amount of appreciation we have been experiencing. the past two years we got spoiled. stuart: we really did. we loved every moment of it but we were spoiled and that is a fact. we will be watching you on the new season, mention global. it premieres wednesday, october 19, 8:00 pm eastern on fox business prime.

thanks for being with us, see you later. still had, arizona congressman andy biggs, former us ambassador to nato kurt volcker, ben dominic and jason rantz. the performance of our public schools should be a big issue in november's elections. educational standards way down and teachers union has to take its share of responsibly. the elections, an opportunity to hold the union accountable. that is "my take" and it is next. ♪

>> the problem in america is we are suffering under biden policies, doesn't matter what the color of your skin is. i think president biden is beginning to realize his vice president is giving him trouble? >> strong numbers, no chance the fed will pivot. >> the fed does nothing. they will pay a heavy price, in the future, the cost of