>> 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 removing faster prices, would

be a deeper recession. >> i don't think there's a national strategy or national plan to enable the switch to renewables without disruption to the economy. you can't force this renewable mandate. >> rain is a good thing ♪ stuart: rain is a good thing. four days of it in new york, fed up. i believe it is sunny tomorrow. 11:00 eastern a wednesday, october 5th, the markets going further south, we are down 400 on the dow, 60 on the s&p, 250 on the nasdaq composite. interest rates rising, energy prices rising, stocks down, the 10 year treasury, the yield is all the way up to 3. 78%, at this time yesterday on

this program we were saying that yield was 358, now it is 378. that is a gigantic move, every single one of them. meta-platforms down. down 3.7%. it is a selloff. the performance of public schools should be a big issue in the november elections. when i say performance i'm not talking teaching critical race theory or gender preference, those are important but it is educational standards, the role of the teachers union is the heart of the school program. standards are down and the union has to take its share of responsibly. the elections are an opportunity to hold the union to account. illinois is the poster child of abject failure. the study by wire post using the state's own data shows how bad it is in illinois. the study was based on 2019

data so do not blame the pandemic, statewide 36% of third graders could read at grade level, 27% of hispanics, 22% of blacks. it is a failing grade. in some cities it is much worse. in decatur 2% of black third-graders read at grade level, just one% meet the standard in math. the wall street journal says the rock had set in way before the pandemic. that's the kids. now the teachers. in decatur, 2017, 97.3% of teachers were rated excellent or proficient. by 2018 it had risen to 99.7%. how can that be? kids failing, teachers in the eyes of the union doing just fine. if ever there was a time to make big changes this is it. glenn young so the can made education the big issue. in november parents again had the power to hold public schools and teachers union

accountable. a golden opportunity to push for voucher systems, charter schools, private schools, anything to push back on the monolithic and failing public school system. third hour of varney about to begin. ♪ stuart: this is world teachers day, been dominic. with 34 days to them in terms, they will make education a big issue in november? >> a significant issue into november, they are talking about it because of the level we've seen a backlash against teachers unions that have done a poor job how they rated themselves so highly.

that randi weingarten represents clear and present danger to america's youth. in terms of education, as these numbers layout, it is anathema and true across the country. one thing i had as well, chicago teachers walked off the job four times to get higher wages for themselves. and get an advantage because of it, parents and voters are tired of that and they will see a change in this is an opportunity to push for educational freedom. stuart: i'm sure you have seen this but gas prices continue trending upwards, up $0.03 overnight for regular, the white house taking credit when the gas prices dropped but they don't want any share of the blame when prices rise.

>> you said the president responsible for gas prices coming down, is the president responsible for gas prices going up? >> it is more nuanced than that. you know this. there have been global challenges we have all dealt with. when i say all, meaning other countries, have dealt with since the pandemic, and putin's war. stuart: can you answer this? why can't they be honest about what is going on with energy? >> it's not in their political interests. a friend said to me president biden moved from a relationship with gas prices to it is complicated pretty much overnight when things start to go in the wrong direction. we always knew this was going to be an issue and we knew it was going to be difficult especially with this opec news, the white house has done a poor

job managing expectations. a fundamentals tends to reassert themselves. kitchen table issues, the flareup on roe versus wade, dobbs decision, and abortion is sinking as an issue and people are karen a lot more about the economy and the border, and they frankly benefit insurgent republican campaign. stuart: we are gaining some confidence. thank you. the other big story is financial. musgrove first course to buy twitter. he is going to stay for the entire hour. any idea what most would do with twitter? >> this is a charitable

contribution to free-speech. he is substantially overpaying for this company. kudos to him, glad he is doing it, thank you for doing what none of us could afford to do. coming with his tail between his legs, no way he would win a delaware court. stuart: he doesn't see it like this. >> this new apps, if he is just hyping, at the end of the day there are fewer bots and more free-speech, that is a good thing. it is not ultra amaga, it is the censorship of conservative thought. if we can eliminate that

censorship, at least on twitter's platform that could trickle through and start to infect in a good way the other platforms. stuart: i knew i liked you, didn't realize how much. lauren: that is worth $44 billion. stuart: going to top the market, we are down 400 points and coming down. if the fed stays hawkish and odds are they might depending on inflation numbers they stay hawkish, do the markets keep going down? >> yes, the 52 week low is 3584. september 30th. stuart: that is s&p. >> we will have a lower level before the end of the year. i think the fed remains hawkish. they've been relentless and everything they have been telling us how hawkish they are going to be at the market continues to try to call the fed's bluff. that's a bad idea if you look at the us two year yield, that is telling us there is no

pivot, no pivot in the cards. it's not going to happen, yield curve is inverted. we are about to approach third-quarter earnings season, it is not going to be good. multinationals in particular, talk about strong baller, negatively impacted earnings, we will hear about week guidance. this is going to be a tough quarter for stocks. stuart: so hopeful monday and tuesday. it is a good feeling, a smile all over my face. stay there. thanks very much. lahren coming in with the movers. i will start with netflix. lauren: just for you, harry and megan's netflix show might be canceled, page 6 reporting because a couple wants to make extensive edits. i wonder why. they were expected to release it in december. it will take time.

the deal with netflix. stuart: that is fascinating, that is fascinating. they wanted to maybe get rid of the dirt so they could go back to england. lauren: or to save face. they provided it to netflix, they have $100 million and now they support this we shouldn't say all of that because our grandmother just passed. we went for people like me that is the top story of the day. got to get to meta cost-cutting. lauren: there are reports that facebook has done some internships and it will start in london, that is what they call them. everything is down today but they are freezing corporate hiring in their retail business ahead of the holidays. stuart: that is a signal that takes it slow all over. chewy. i'm sure they are down. we found a way. stuart: i don't know why.

when times are tough we take care of our pets. a 4.2% gain is a nice game so we are sharing that with viewers. stuart: let's move on. i was about to tell you about hoboken, dog's for a couple more than any other place in america and chilly bags all over the place. hoboken is the canine capital of this planet. we to you seem mad about that. stuart: we told you about a group of people arrested for looting in florida. three of the four are in the country illegally. flight attendants required to take more rest time between shifts, good for flight attendants but could make the labor shortage even worse. we are on that. putin claimed the annexation of four regions in ukraine, that announcement despite russian troops retreating, they are running from the occupied zones. former us ambassador to nato kurt volcker gives us the state

of play next. (driver) conventional thinking would say verizon has the largest and fastest 5g network. but, they don't. they only cover select cities with 5g. and with coverage of over 96% of interstate highway miles, they've got us covered. i'd like to thank our sponsor liberty mutual. they customize your car insurance, so you only pay for what you need. contestants ready? go! only pay for what you need. jingle: liberty. liberty. liberty. liberty.

stuart: an american illegally detained in iran for 6 years has been freed, just flown to the united arab emirates for major heart surgery, it is unclear when he might return to the united states, was arrested after traveling to iran, detained on spying charges. mexico could soon launch a commercial airline run by the military. ashley, are they going to have

soldiers on the planes? ashley: flight attendants carry machine guns that are mandatory, without complaining about the food. i'm getting. mexico is debating whether to create an airline that will fly to commercial destinations. client airlines don't adequate the service right now, the bankruptcy of mexican carrier into jet and reduction of flights, in mexico. moved by mexico's government will put them at harry in charge of infrastructure projects ranging from airlines to train lines. stuart: glad to hear it. the faa increased the amount of time off. and there are more flight delays.

ashley: they will not lead to flight delays and cancellations. carriers have ramped up the hiring of the last year to meet the surgeon air travel demand. under the new rules the airlines need, 10 hours of rest time, the same amount of time as the pilots, some flight attendants are working on as little as 5 or 6 hours of sleep between flights. the faa says well rested cabin crew is important for all procedures during emergencies, medical situations and evacuations, combating for unruly passengers, the industry group airlines for america does say it represents a major carrier, the 10-hour rest requirement could increase labor and training expenses and cost its members $750 million

so at a cost factor. stuart: i call that a negative. mark tepper still with me. 10 hours of rest time between shifts. that's going to add heavily. >> it is for safety purposes. i understand you have to draw the distinction between pilots and the rest of -- for safety purposes and there for customer service programs as well. pilots have to be well rested. and it is going to impede airlines from properly staffing and properly scheduling their crews and there will be more delays and more upset customers. stuart: they have been picketing airports about the conditions they have to live in. to give them extra time, very good news for them.

>> don't know what condition they are living in. maybe they are not that good. maybe it is tough. i have on several flights over the course of the year, i've seen flight attendants working on these planes who seem to be like they have come out of retirement. maybe even those pilots who are 65 plus got pushed out, they are sitting in as flight attendants. of the one flight attendants -- >> there's a big staffing shortage. stuart: i would not invest in an airline right now. we were down 400, now we are down 340. russia has formally annexed regions in ukraine but the russian military is retreating rapidly from the front lines.

russia has basically lost and i'm not sure they have the manpower or resources to take what they lost. what is next? mister ambassador? >> absolutely right. articulating these ambitions, annexing these territories, yet they don't have the material means to hold what they have taken. they are going east and south and that is a pattern but will continue. this leads to appearance of desperation. the mobilization of reservists have driven more people out of russia than they brought into the military. stuart: ic conservatives in the united states thinking maybe we should not give that much more aid to ukraine because they wanted negotiated settlement. where are you coming from in this?

>> the opposite direction. if we were to help to assist ukraine to stop the war now than we would be living with an aggressive authoritarian expansionist vladimir putin for as long as the eye can see. look at what he has done to georgia, ukraine, energy in europe, we need the ukrainians to take back their territory and see this preparedness be defeated. stuart: the missile went over japan. have not seen that for 5 years. does that make japan move more closely? >> it is on their minds. they have a robust self-defense force. i think the japanese are concerned we need to not lose sight of the threat north korea presents.

after the world is focused on putin and ukraine. stuart: they want attention? >> and concessions. if they don't act up we forget about them. no effort, with others. stuart: the video froze, got to leave it at that and move on but that is an interesting situation developing in japan. our army fell short of their recruiting goals by 15,000 soldiers. andy biggs blames the vaccine mandates and failure to meet recruitment goals, they will be on the show shortly. yankee star aaron judge hit his 62nd homerun of the season setting a new record in american league baseball. fox and friends guy will cane

was at the game. he will join us. ♪ ♪

meet a mining company that doesn't mine. advance united's au marketplace platform is ready to disrupt the pr eropesti, then connecting isthe property ownershe with potential buyers. advance ituned.

stuart: are we going to see it? aaron judge hit his 67th homerun last night making major league baseball history. look at him go. everybody wanted to cash in. i assume it is worth a lot of money. ashley: how about millions of dollars? that is how much it could be worth. sports illustrated said they offered $2 million for the history making ball, here is the magic moment from last night. watch this. >> deep left. he has done it. he has done it.

aaron judge is the single-season leader. case closed. ashley: he is the king. snack by texas rangers fan coryell months after a valiant effort to try to grab it. he was ramped up to keep his prize safer, worth millions. he will sell it and bank. sammy sosa, they had 62 home runs in the seasons. judge is being called a new clean homerun king after roger merited the record in 1961. talking of money aaron judge slated to become a free agent after he turned down at we ate year, $235 million offer from

the yankees before the season. how much is he worth now. here's a great story emerging. will cane is with us on the phone. you were there at the game but you missed the big hit even though it came in the first inning. explain yourself. what were you doing? >> i'm aware, you don't have to recount the details. i was there. obviously a rookie took full responsibility. my brother's birthday, i went with my stepdad and two brothers. we have fancy pants where it looks like a club buffet in the core door.

my brothers said let's go in the fourth inning. why would we go in the middle of the game? that is stupid. let's go now. it is a little longer than you think it will be. the prime rib was frozen, not what you thought it would be. it is the first inning and i know he's leading off. not in the first at bat, we don't have to rush but the second pitch was the second pitch, he launches it out of the stadium. not in my direction. i was there. i was technically there. that is what i stand by. i was there. stuart: thanks for coming on the show and being very honest but you will never live this down. >> it is a better story, 20 or 30,000 people were there. only a dozen in the buffet

lands. i was kind of their. stuart: we will go through it all over again. see you later. let's get serious, the dow is down 300, nasdaq is down 218. are the financials moving? susan: what were they serving in the buffet lines? frozen prime rib. it is a good sport. susan: he almost was there, some of my want to show you, look at the bank stocks, morgan stanley, goldman sachs downgraded by atlantic equities and concerns of falling investment banking revenue, $85 stock, goldman worth 290 and this is a big one, is morgan stanley, bank of america among the big banks financing for the

$44 billion takeover bid? they extended these loans to rates worth 0 and rates are 3% so the most we've seen in 6 months, the bank stands to lose hundreds of millions of dollars by extending the corporate debt financing for the twitter takeover deal. stuart: does that mean musk is short of money? susan: banks have to meet hundreds of millions in losses because corporate debts and markets buying these days. stuart: i saw ford turning south now but only fractionally. susan: they upgraded the evaluation calls care, keeping it to 14. gm worth $30. adam jonas making an interesting point on chesler. they might have a demand issue, 22,000 cars in the summertime, 22,000 cars were not sold.

elon musk, the demand for for the cars they make are not the case anymore, it still needs another $3 billion in chesler stock to fund twitter buyouts. stuart: that is news, you can't sell what they produced, that is news to me. susan: william jonas made a point on that. stuart: i would have thought oil stocks were doing well. what are they doing? susan: the outperformance of the s&p, the complex with opec plus 2 million barrel daily cut drawdown in food stock piles, schlumberger, exxon, apache and philips, the average selling price for chesler is part of that report that i found fascinating, average price for chesler $60,000 so quite a premium. at the point you raise prices there will be a demand for electric cars. stuart: great stuff.

the u.s. army missed its recruitment goal by 15,000 soldiers this year, the military is losing 20,000 servicemembers because of the vaccine mandate, national security council coordinator john kirby said the vaccine is still necessary. >> healthiest people in our country who are sacrificing, worth kicking them out. >> we would rather not lose anybody to the vaccine but it is valid. >> no it isn't. this is an extra mental vaccine that just came off the shelf. it risked our national security. we one what is with this mandate? congressman andy biggs joined me now. why won't they drop the vaccine mandate? is it worth it to lose 20,000 military personnel? >> don't think it is worth it

to lose 20,000 trained military personnel, also losing 60,000 for the national reserve. it doesn't seem worth it to me, the cdc, just changed guidelines for travel restrictions. all of this is going on where you >>, the military is clinging doggedly to this vaccine mandate. stuart: they won't reverse course on anything whether it is drilling for oil or natural gas. they never turnaround, admit a mistake and move on from there. >> that's because bad policies, what you see is desire to have control over the american people.

the immigration policy, whether it is the vaccine mandate, schools lock down, those were done to gain control of the american people, we don't realize that by now, i have very little hope for the american people but they realize it and you will see some changes. stuart: a lot of discussion about ukraine, sending more money to help against the russians. why do you oppose that? >> i look at it this way. they didn't make a case for the national security of the united states, 3 million people coming across the southern border, terrorists coming across, fentanyl deaths of 700,000 people and we don't see this going to our own security and secure their border. if you listen to them they will

say we want to protect the sovereign state of ukraine, we won't -- to me, it is incredible. and inflationary and don't have accountability, 7% of the material. stuart: it is a great debate. you could come back and we will talk about this more because there's two sides to this thing. congressman andy biggs. don't forget to submit your questions for our upcoming special varney and you, left-hand side of the screen, a restaurant in fort myers beach before the hurricane. that's where the restaurant used to be completely destroyed in the storm. several others in southwest florida, will join us next.

(lighthearted music) - "best thing i've ever done." that's what freddie told me. - a person like me needed to get a reverse mortgage to change my life. it was the best thing i've ever done. - really? - yes, without doubt! - [tom selleck] joanne said just about the same thing. - it absolutely is the best thing i ever did. - jack put it a different way. to him, it was about having his grandkids over. - you want to have the kids over, you want to have the grandkids over. - yeah. - you want to have the family over. you want to say, "this is my place." - great people, different people. that's for sure. and all of them had different reasons for getting a reverse mortgage. but you know what? they all felt the same about two things. they all loved their home, and they all wanted to stay in that home. - [announcer] if you are 62 or older and own your home, find out how you could access your home's equity

to give you cash now. and when you need it in the future. a reverse mortgage could put more money in your pocket by eliminating your monthly mortgage payments. it could also pay off higher interest credit cards, medical costs, and give you some extra cash to help your retirement lifestyle. - i don't have any anxiety about money anymore. - it allowed me to live in my home and not have to make payments. - a whole lot of families have gotten tax free cash from a reverse mortgage loan for a better retirement. - i don't have to worry about a mortgage payment every month. - it's a good thing. - [announcer] call right now to receive your free, no obligation info kit. the kit will show you how you may get the cash you need using your home's equity as a reverse mortgage from aag. - call the number on your screen. - look, why don't you call aag and find out what a reverse mortgage can mean for you? - [announcer] call aag, the country's number one

reverse mortgage lender. - call the number on your screen.

stuart: our next guest lost both of his restaurants in fort myers beach, both destroyed by hurricane ian. franco russo, our commiseration's for your loss, a terrible loss. my question is where does the money come from for you to rebuild? >> that's a good question, thanks for having me. we have discussions with our insurance company, sending people to look at the damage and hopefully they will be able to help. stuart: any way you slice it your out a great deal of money no matter who pays for what, you are out, you have lost enormous amounts of money, is that correct? >> it is correct. stuart: do you have flood insurance? you have two other restaurants which were flooded. do you have insurance? >> yes.

we have flood insurance, wind insurance, hopefully those will help. stuart: where were you during the hurricane? >> i left on monday. took my wife and my son to miami. it was still tracking north but i didn't want to chance anything having a young boy so we left. we went to miami. stuart: when did you get back to see what happened? >> we got back on friday. we are not allowed on fort myers beach yet. residents and business owners are not allowed because they are conducting search and rescue missions. stuart: we had a guest on the show who had restaurants in fort myers. he suggested it would be at least five years before fort myers could return, the beach could return. is that what you are hearing? >> i heard some people say 5, i've heard some people say two. there's a lot of work to be

done. a lot of cleanup. a lot of discussion. a lot of rebuilding. we will see. stuart: i would like to know who is going to do the work of cleanup? just a massive job. i don't think the workers are available, are they? >> i'm not sure. we haven't even thought about that. we are still, they are still conducting search and rescue missions. i am still trying to make sure my 75 plus employees that were there are okay. trying to do anything i can them and my community. stuart: that's see if we can do something for you. we have a go fund me page for businesses damaged by hurricane ian. franco russo, get to the qr code and donate. thank you for joining us, we feel for you. we really do. next case, crime spiking around

the country. squad member cory bush refuses to back away from her defend the police message. roll tape. >> they spend more time defunding than addressing the problem of police violence. stuart: police violence, we have a response to that after this. ♪ don't blame it on me ♪ don't blame it on me ♪ so i consolidated it into a low-rate personal loan from sofi. get a personal loan with no fees, low fixed rates, and borrow up to $100k. sofi. get your money right.

i know there's conflicting information about dupuytren's contracture. i thought i couldn't get treatment yet? well, people may think that their contracture has to be severe to be treated, but it doesn't. if you can't lay your hand flat on the table, talk to a hand specialist. but what if i don't want surgery? well, then you should find a hand specialist certified to offer nonsurgical treatments. what's the next step? visit findahandspecialist.com today to get started.

stuart: markets have come back a little bit. we were down 400 and now we are down 300 and the nasdaq is over two. this is a selloff. now this. squad member cory bush defending her defend the police position even if it hurts democrats and the midterms. role that tape. >> q one of the few democrats who says let's defund the police. are you worried that could hurt your colleagues? >> the thing about defund the police is we have to tell the narrative the, people here defund the police but they say rialto, divest, but it is still the same thing. we can't get caught up on the words. people spend more time focusing

on the word defund than they spent caring and addressing the problem of police violence in this country. stuart: jason rantz is our guy on this subject and jason is with us now. i cannot believe the defund the police message still flies for democrats. >> reporter: it doesn't, that is why cory bush is one of the few still using that language. you hear other democrats try to get away from it and they don't want to talk about it and i agree with cory bush, we don't have to get caught up on the words but the actual results of this movement which is chicago's murder rate is higher than new york city, new york city's crime is up 30% year-over-year, you have a thousand murders in philadelphia in the last 20 months, we have become it in seattle on pace to hit homicide records that were just shattered in the last couple years and la reaching the highest homicide rate in 15 years. we should be caught up on

something tied to defund. stuart: cory bush will be reelected i presume. three judges overturned the conviction against an accused drug the other because prosecutor used the term mexican out. got to ask plainness for me. >> the jury heard the case and found this guy guilty of attempt to sell and it goes to appeal and the judges say you said mexican out when talking about the amount of heroin that was allegedly being sold, that is the street name used because it is not a full ounce of heroin being sold on the street because you said that you are saying all the mexicans have to be seen as drug dealers and in this case the alleged drug dealer happened to be latin x which i don't know what that means and not sure if he is mexican but he is latino so they are saying you have in

front of a jury intentionally or unintentionally put this racial bias in their minds, and framed their ruling. there is no objection to the use of the term during the trial, this is an example of woke judges going nuts and dismantling our criminal justice system. cory bush talked about defunding, changing the caramel justice system in courts and this is a good example of that. stuart: a very good example. jason rantz, see you again soon. mark tepper is with me and mr. tepper has a new book called, i will put it on screen, look at that. money playbook, professional athlete's guide. >> he will get $400 million now. i think when you look at nfl players in particular, 78% go

broke a few years after leaving the league. there are a lot of pitfalls, 20-year-old multimillionaires, now you have 17-year-old college freshman making a million plus a year so this book is designed to help them avoid the pitfalls, make sure they spend their money properly and invest properly so they can retire and maintain that lifestyle as long as possible. stuart: put together advice? >> might know a guy, you might be sitting next to stuart varney. stuart: you have a ton of money, you need advice, real professionals. >> don't care about the wagon or the escalade or forward f one hundred 50, those are the issues you need to deal with. do you need two vacation homes? probably not. stuart: straighten them out.

the wednesday trivia question, what is the least populated state? the state with the lowest population? is it rhode island? north dakota? wyoming? the answer after this. . .

stuart: okay. what is the least populated state in the nation? rhode island, alaska, north dakota, wyoming. ashley, you're first. >> i go wyoming.

>> i go north dakota. stuart: i go wyoming. reveal, please. baby 581,000 people live in the state. california the most populated although they are now losing population. they have 39 million there. thanks, ash, thanks, mark, all good stuff. quick check of the market reveals a selloff continues. time's up for me, neil, sir, it is yours. neil: thank you very much, stuart. we're focused on florida today. obviously the president will be visiting the sunshine state to assess the hurricane damage there, but 149 miles north where he will be you are at cape canaveral, florida, where we're waiting the lawn of spacex crew dragon capsule. set to lift off from the kennedy space center in a few minutes this is interesting mission. this is six month stay on board for the space station and two american astronaut