maria: welcome back. we have breaking news, we want to bring to you right now. penny mordont in the uk is withdrawing for the prime minister spot, according to i-tv i-tv reporting she does not have the sufficient nominations. she was supposed to have that by 9:00 a.m. this morning, and we are told she does not, and is now withdrawing for the race and the job of prime minister of the uk. dagen mcdowell, liz peek, thanks very much for being here. great to be with you ladies. "varney" & company picks it up stu take it away. stuart: i guess it looks like su nak for prime minister

i'm just guessing here, but who knows. good morning, maria, and good morning, everyone. we always like to start with the markets because you want to know what's happening to your money as we begin the new week. well, here you go. the dow continues to rally. nicely so. dow up about 250, s&p about 30, nasdaq about 40 on the upside. interest rates on the downside this morning, the 10 year treasury yielding 4.18%, and the two year coming in right now around 4.50 just straight back to 4.5%. take a look at this. a huge sell-off in china's technology companies this morning. xi-jinping has solidified his hold on power, he's expected to keep going after super-wealthy industrialists, like the founder of allie alibaba, and it's down 15% and similar declines all across-the-board. that's a big deal. tesla is down. elon musk cutting the price in

the model 3 and the model y in china. trouble with demand for tesla cars there, as china keeps reporting new covid lockdowns. you're down nearly 3% on tesla. politics, whoa, serious electoral damage for the democrats. the words "red wave" are everywhere. first a new poll shows the republicans have a command ing lead on three big issues of the day, crime inflation in the economy, speaker pelosi wants to change the subject. you'll hear from her shortly. second, a dreadful report card for the public schools. math and reading scores dropped sharply during the pandemic. the democrat-friendly teachers union getting some of the blame. the republicans have made education their issue. third, a dreadful report on the border. record numbers coming into the country. that is a negative for the democrats. boris johnson drops out of contention for his old job as prime minister. richie sunak is now the front runner after penny mordant just

moments ago withdrew and listen to this. there were demonstrations in london demanding that britain return to the european union. yeah, that's how bad the turmoil is over there. monday, october 24, 2022. 15 days until the mid-terms, "varney" & company is about to begin. ♪ wake me up before you go-go ♪ stuart: i'm not quite sure whether that's a good idea to start like that. i just opened up with a big story and the first thing lauren says to me is well that was depressing. thanks, lauren. lauren: as much as the weather don't you have any good news this monday morning? stuart: i'll find something just for you but meanwhile i've got this. china's xi-jinping has secured a third term, got it. he could be in a position for life long role, got that too

we don't often put china's tech stocks way upfront of the program but that sell-off, lauren? that's huge. lauren: tremendous okay so xi-jinping personally vetted his leadership team, so now, he has a third term, maybe a lifelong term and he's surround ed by yes-men. what does that mean? policy continuity. covid-zero, more regulation, for share prosperity. that's the translation. they sacrifice growth for their ideology-driven policies. fidelity is talking about capitulation in china and the selling that we're seeing there. if you looked at the hong kong market it was down almost 6.5% and china fell 2%. stuart: and those tech stocks down multiple -- lauren: housing stocks, casino stocks anything affected by china's policies recently, are still effected today because we don't see any chance of a revision. stuart: now let's look at our market and what futures are telling us about our market opening up today.

i see some green, dow up 250, i see the nasdaq up about 41 points. interest rates are coming down all around the world that is helping stocks and of course there's speculation the fed will pivot. pure speculation but it's out there. we've got a very big week ahead for earnings. technology companies in particular, earnings we've got alphabet, microsoft, that's tomorrow after the bell. meta on wednesday, amazon and apple on thursday, and look whose here, jeff sica, the man himself. what will the the big tech earnings tell us about the economy and consumers? >> i'm going to be very careful not to depress lauren. stuart: well she's sitting right here. >> i would say that the headline numbers for big tech are probably going to be good, earnings per share, revenue probably going to be okay because keep in mind, there's been a lot of downgrades the estimates have been lowered consistently but what i would look for with these earnings,

specifically, is i look, especially since they are global , big global tech companies, i would look how the strength of the dollar has effected their earnings, because the dollar being as strong as its been in decades, is going to have a negative impact an these multinationals and we're just going to see what that impact is. stuart: so that will tell us something about that? the impact of a very strong dollar on american companies. >> right and it's a proxy on what the fed has done. the fed has consistently raised interest rates, consistently strengthened the dollar, so we're going to be able to determine whether this was a smart thing to do or not so smart of a thing to do. stuart: okay let's talk twitter. i know what you think about the company but musk has until friday of this week to buy the company and if he doesn't, he's going to court. what are you laughing at? he's wildly overpaying isn't he? >> well i would say that this acquisition is goes to go

down probably as one of the single-worst acquisitions in mankind. i think they are going to be studying this in business school as how not to acquire a garbage company like twitter. i think at this point, i don't know if elon musk is a praying man, but i think he should be praying that something happens to make this , to derail this catastrophe of a deal, because he's already admitted that he's overpaid for twitter. the banks have got to be sitting there saying well, we're going to have some losses on our balance sheet, because the banks , keep in mind, they are putting up $15 billion to $20 billion and they are saying, they aren't even going to go try to sell this debt, because nobody is going to want to buy it. i know i wouldn't touch it even with your money, stuart. stuart: [laughter] >> and i think that it's going to be a disaster so if it doesn't go through, he's stuck with something that we have not

yet heard how he's going to make money there. stuart: you really depressed the poor lady. she comes back. lauren: can we recover from this stuart: well listen to this one, jeff. this story is for you. lauren: oh, no. stuart: politico is warning the recession signals are flashing bright red. what signals are depressing you this morning? lauren: well bloomberg is modeling. they look at these 13 different economic indicators, and they see a chance of recession in the next year at 100%. 100% chance of recession, yet the biden brand is alls well, don't believe what you see , what you pay, this is how politico puts it to hear president joe biden and other top admin officials tell that the u.s. economy very unlikely to hit recession anytime soon and if we somehow do experience such an official economic slowdown, they continue, it'll be brief and gentle like a soft summer rain. i mean, come on. so the u.s. economy, they say, is absolutely headed to

recession. probably soon. but all is well. stuart: lauren we have to move swiftly along the course here. lauren: soft summer rain behind you. stuart: got it let's get to pure politics shall we? president biden answering questions about his age and fitness for office. roll tape. >> i think it's a legitimate thing to be concerned about anyone's age including mine and i think it's totally legitimate but i think the best way to make the judgment is to watch me. am i slowing up? am i don't have the same pace? i could get deceased tomorrow, i could drop dead tomorrow. stuart: i want to bring in miranda devine on the right hand side of your screens, ladies and gentlemen. miranda there's no way president biden runs for a second term, is there? >> no way, but he just doesn't want to be seen as a lame duck, and you know, i think it's amusing that anytime someone asks him about his age, he says

look at me. watch me, and that's the problem we are watching him, and we're watching him get lost on stage. we're watching him mangle his words and not know where he is half the time. we watched him in that interview where he seems to fall asleep mid-sentence, though, you can't really blame him, because that interview, i don't know if you watched it, stuart, from start- to-finish, but it was so soft, so easy, that for him, it was like a cup of "coco" and a warm bath and pair of slippers no wonder he fell asleep. stuart: miranda, you are just terrible, but listen to this one , let's go to the new york governor's race, new york. kathy hochul, she's only got a minor lead over republican challenger lee zeldin. the new york times just endorsed hochul and did not mention once immigration, the border, or migrants. they seem to be running away from the border issue as well.

>> well, i mean, of course and not that it's really kathy hochul's fault. it's obviously joe biden's fault but kathy hochul has been quite happy to allow all these migrant planes that the biden administration has sent into new york from the border. that's really what has put the pressure on the shelters and on the social services. it's not greg abbott's few handful of buses. it's biden's planes that have been coming in for the last over a year. at one point they were coming in every single night so look, i think kathy hochul is just panic king now, and it doesn't matter whether the new york times endorses her. they have a habit of endorsing losers. they never seem to choose a person for the right reasons. they just choose them because they check their boxes so hochul is panicking and now suddenly woken up to the fact that crime

is an issue on everyone's minds in new york, and this is something that lee zeldin has been steadily working on behind the scenes, slow and steady wins the race. stuart: yup. i mean, exactly. lee zeldin is really coming from behind on this one. miranda, always a pleasure. hope to see you again real soon. >> thanks, stuart. stuart: check futures, please. i see green on this monday morning, up 200 for the dow, 20 points up for the nasdaq. coming up, remember this video of california's governor newsom strolling around the white house he claims he's still completely focused on his governorship. we'll tell you all about that. and then there's this. speaker pelosi denies that the mid-term elections are about inflation. whoa roll tape. >> when i hear people talk about inflation as i heard in there, we have to change that subject. inflation is a global phenomenon stuart: yeah, but it's really tough to change the subject on the most important issue of the day with 15 days until the elections. congressman mike waltz here on

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♪ ♪ stuart: beautiful day at the beach, that's st. pete, florida, it's 70 degrees not a cloud in the sky. lauren: wish i was there. stuart: right? it's raining here in new york. it's cold too. if you like the music we play, follow us on spotify, search "varney" & company or scan that qr code thing in the middle of your screen. check futures, i see green. not a whole lot of it but a continuation of last weeks rally

dow up maybe 2-pound points, senator sanders, as in bernie, he's worried about the upcoming mid-terms. what in particular worries him? lauren: turnout, of young people and turnout of working people, here is senator sanders on state of the union. >> i am worried about the level of voter turn out among young people and working people who are voting democratic, and i think again, what democrats have got to do is contrast their economic plan with the republicans. lauren: so, he's telling democrats, stop side-stepping and pivoting and making excuses that inflation is just a global outcome of war, that's what they continuously say and how will democrats fix the economy, which means they have to admit it's broken and you haven't heard that yet. stuart: [laughter] okay. lauren: that's his messaging. i don't agree with his solutions but his points i agree with. stuart: okay got it. thank you, lauren, very much. 15 days until the election, inflation does remain the top issue and the democrats are way behind on this.

okay come back in again because you've got the numbers on this issue and how far the democrats are behind. lauren: it's an abc poll of registered voters conducted three days ago so it's recent. they find republicans have the advantage here, 38-21% on inflation, the same on gas prices where inflation is most evident, most people would say and about the same on the economy, 38-24. they are also favored 32-29% on taxes, so if it's pocketbook issues that are the motivating factor, the turn out factor, you know, republicans are in a good spot. democrats, however, more trusted when it comes to abortion, climate change and gun violence. stuart: but those are not the major issues on which this election is going to be. i don't think they are. lauren: we'll find out in 15 days. stuart: only time will tell. staying on the issue, speaker pelosi says democrats need to move away from the conversation. roll tape. >> we have to change that subject. inflation is a global phenomenon

the fight is not about inflation it's about the cost of living, and if you look at what we have done to bring down the cost of prescription drugs, to bring down the cost of energy in our legislation, you will see there has been opposed every step of the way by the republicans and they have no plan for lowering the cost of living, or helping with inflation. stuart: [laughter] congressman mike waltz, republican from florida joins us now. you've gotta shake your head at this. you can't change the subject when inflation is the top issue and you only have 15 days until the election, now can you? >> yeah, nice try, nancy. nice try. you can't spin your way out of this one, because everyone is feeling it, everyday, when they go to the gas pump, when they go to the grocery store and try to get a mortgage, but i love this argument of it's a global problem, so it's not so bad. as though saying because the brits and the germans are suffering, you shouldn't worry about your heating bill this

summer. at the end of the day the that underlines all of it, that underscores all of this , stu, is this administration's energy policy and what nancy knows is that the progressives have taken over, they have taken over the democrat party, and they aren't going to be able to get their way out of this until they unleash american gas, and start flooding the market with cheaper, cleaner, american gas and north american gas, for that matter, because mexico and canada have their fair share too the cost of transportation is the biggest driver of inflation and they aren't going to do a u- turn when it comes to energy policy. stuart: no, they won't. congressman, as a former military guy, i need your input on this one. the white house says iran has sent troops to crimea to help russia use those iranian-made drones in ukraine. what should president biden do? >> well, first and foremost, he cannot enter a nuclear deal with

a regime that is literally shooting school girls in the street, oppressing its own people, aiding and a betting the putin regime, as it massacre s civilians in ukraine literally with kamikaze drones operated and maintained by iranian soldiers and are still plotting to kill american officials like they tried to assassinate john bolton, mike pompeo, robert o'brien and others so we have to get back to maximum pressure. the thing that the iranian regime cares about the most is its wallet, and that is the only way. that's the only thing they are going to care about but first and foremost biden has to say the deal is done, the deal is dead and don't you care keep marching towards a nuke or there will be serious consequences. stuart: okay don't hold your breath, congressman. real fast. can you see this? xi-jinping getting his third term in office. he forcibly removes his

predecessor. xi-jinping is a very powerful guy. it's almost militaristic, his control of the come communist party. are you worried about this? >> the entire world should be. xi cemented himself as the 21sf china and by the way that public hugh meltages of the predecessor has never been done before. he centralized power on himself. he's eliminated free market reformers, and wall street needs to wake up to it. if there's no corporate patriotism, then how about for self-preservation we've got to get our supply chains out of china, back in the united states xi told his military and his country to prepare for war and " the storm is coming." so, we need a wake up call here, stu, and it needs to happen right there in new york where they are just pumping american dollars into the chinese defense industry that one-day american soldiers are going to have to face potentially.

stuart: that's really good, congressman you covered three subjects in three and a half minutes. it's succinct and to the point, really cool. >> all right, stu. stuart: see you later. check those futures again please we got six and a half minutes until the opening bell dow will be up about 180. we'll be back. ♪ go on, take your money and run, go on take your money and run ♪

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stuart: all right, futures still point to a higher opening, at least for the dow. dead flat to slightly lower for the nasdaq. keith fitz-gerald with us this morning. have you seen any signs recently of what we like to call capitulation selling? you know, the washout? seen any signs of that at all? >> funny you should ask, stuart , because that's where i've been spending most of my time lately is looking for those things. remember, august 19, 1979 business week ran the death of equities cover because the ravages of inflation? we're seeing the same thing in the media today. second, treasuries, week-on-week are down 34%, 25% for equities that's never happened in modern financial history. people are beginning to throw in

the towel at any cost. that, to me, is almost always a contrarian bullish indicator so yeah, you bet i'm seeing it. stuart: i'm seeing something else or feeling something else. this bear market, it's getting kind of tired, isn't it? >> it is, and that's a good way to describe it. people don't compensate, they don't understand how these things work. you go to a store when you have a sale. you don't go to a store when they are having it 50% more pricing. you go for the bargains and that's where they are today. stuart: so, are you dipping your feet back into the waters? >> oh, i've been shopping all last week, and i'm waiting for earnings this week with p a el and exxon, chevron those are really big ones so i'm not going to buy ahead of them but i'm sure content to buy after them if they perform the way i think they will. stuart: okay you think they are going to, let's take apple, for example. you think apple performs well? >> i do. i think that apple is going to put up solid numbers and we're going to see strong consumer demand. we're going to see interesting impact from the services which are going to continue to expand.

profit margins they are 70% stuart you don't see that very often. there's only one company making 700,000 dollars a minute and that's apple. stuart: so big tech you think, might put a floor under this market this week? >> you know, i haven't thought so for a long time but yes, i'm beginning to get that sense. if this rally has legs there isn't a warning bell, powell won't know what to do and the markets come roaring back anyway if i'm correct. stuart: if you're correct there's a lot hanging on "if you're correct." >> i know. stuart: that's the nature of the business isn't it? there you go. >> it is, it is. it's more than a dice throw but an educated guess and if you use history as your guideline it rhymes. stuart: [laughter] not bad. keith, we'll see you again soon, and let's hope for a good week for big tech. here we go, the market is three seconds away. >> [opening bell ringing] stuart: we're expecting some green for the dow industrials right from the start, i think that's what we're going to get. we've got it. up about a half percentage point

for the dow jones industrial average. now, you can see apple is a dow stock and it it it is up, coke is a dow stock, two-thirds of the dow 30 are on the upside. the s&p is opening higher, almost a half percentage point it's the nasdaq only up a tiny fraction. so let's have a look at big tech they have all opened and we've got two losers, alphabet and meta. microsoft, apple and amazon both have all three of them on the upside. again, but not by much. how about tesla? now, they have raised their prices in the united states, but they are cutting their prices in china. now, why? lauren: elon musk needs to stay competitive in china, where their ev's are cheaper, and he's also said he does see elements of recession in china, so he's cutting prices bias much as 9% for the model 3 and the y suv, so they start around $36,000, u.s. , but look he also wants

the government subsidies so if he gets cars below a certain threshold he can get more people , more chinese customers to buy them and that drives demand, so yeah, the stock is down 4.5% today but this might not be a bad thing. stuart: rotten looking chart though, isn't it? lauren: maybe it's down more tesla to fund the twitter bid and that deal is 5 p.m. friday deadline. stuart: that's right. meta as in meta platforms as in facebook down 3%. who doesn't like them? lauren: bank of america. they took them down to a neutral rating. they took the price target down to 23% they say they are going from 196 to $150, so what they are worried about is advertiser spending, specifically how that hurts the tik toc competitor, the reels applications we'll find out more, meta reports wednesday. stuart: this interests me because earlier we showed big chinese tech companies all of them, huge sell-off today. same story with the casinos and i guess it's for the same reason lauren: uh-huh. stuart: it's xi-jinping, strong arm guy, cracking down on very wealthy individuals and that

hurts macau is that the story? lauren: hurts the individuals but also the frequent and sudden lockdowns. remember those videos we showed you all of a sudden, a store, or casino, would shop down because there was one exposure to potential covid so look at malko , down 10% so this is about a continuation of the policies put in place, covid zero, lockdown mode of president xi. stuart: i believe shen-zen was locked down last night. literally. thanks very much, what's this about schlumberger, rebranding itself? lauren: that is the best test of a new financial news reporter because i said schlumberger. someone is going to find the tape, somewhere. it's schlumberger, you know, don't have to worry about that because just call them slb. that's their new name, new focus , decarbonized energy so this is all about the transition schlumberger, the oil field services company. yeah, well they are slb.

they transitioned quickly let's pop-up chevron is it moving because they were cut to hold at hsbc, now it's flat on valuation. stuart: you should have heard some of the miss pronounce ams i made when i first got on to america and got on tv. lauren: oh, our streets and cities. stuart: yes, city streets that kind of thing. i made the mistake there was a studio audience, and i said juneau, as in alaska. what else was it? i can't remember. lauren: well when they pop-up and you remember just shout them out. shout them out and then we'll know. stuart: okay i'll see. lauren: i still make mistakes on cities. stuart: okay, now apparently we've got a lot of time on our hands so we've got to take time to chat casually on occasion, and show me william sonoma, what's the problem down 4%. lauren: the expensive spatulas might be too expensive so jeffrey cut them to under perform giving them $100 price target and they said "william so noma is a poster child for retailer that over-

earned during the pandemic ." when everybody bought everything nice for their homes cooking from home, et cetera, they say demand is going to deteriorate from right now and through 2023. so we're cutting back. stuart: that's an interesting indicator got it. thanks, moving on have a look at the big board open for four and a half minutes. we're up 220 points. look at that now the dow is at 31, 300 here are the winners from the dow list. verizon is at the top 2% higher, amgen is up and so is coke, up nearly 2%, i've got american express that reported last week up again, and the s&p 500, hca holdings, at&t, united airlines is up again, see them going places? bookings for the holiday period are very good apparently. comcast rules the roost on the nasdaq list. kraft heinz, amgen, charter communications, o'riley automotive so there are some winners and the dow is up 240. the 10 year treasury yield now moving back up a little bit.

you're at 4.22 and the price of gold hasn't done that much during this inflation scare, it's not doing much now, 1,651 per ounce. bitcoin, interesting story here. it never moves, do we notice that from weeks on end its been 19,000 and change and there you go. the price of oil, we didn't check that earlier. check it out, $84 per barrel. lauren: china demand i'd say. stuart: i would say you're right nat gas beginning to move up a little bit but that's all over the place recently, depends on the temperatures up in the northeast. it cools, nat gas goes up. there you go. lauren: fortunately its been warmer in europe. stuart: yes that's helped out a lot. the price of gas on average, regular, $3.79. california you're all the way down to $5.75. lauren: i can't believe people actually pay that. stuart: well you were in california. lauren: i know. stuart: and you rented a tesla. lauren: not by choice and when you ask someone, how do you feel about or why are your gas prices so expensive they are like oh, i don't know, they always are. it's like it doesn't even phase

them anymore. stuart: i think -- lauren: i couldn't imagine paying that. stuart: but when you drive around california teslas are everywhere aren't they? lauren: absolutely. when you're looking at gas in and around $6 you're kind of forced to try to find the money to pay for an ev. stuart: you went to a rental place? lauren: you're outing on my story. the car i rented they didn't have so i had to get a tesla. it was my first time actually driving a tesla and they had to send someone over not just for me but anybody for their first time in a tesla to teach you how to do it. stuart: did you learn quickly? lauren: there's a steep learning curve i would say, it's nerve racking. everything is on a computer screen. stuart: and you were on your own pitch black, san francisco? lauren: jess, i survived and managed, i was nervous for the first 20 minutes. stuart: oh, got to pay attention to this. tesla is down today 4%. nothing to do with you renting a tesla, but just look, bottom right hand corner of your screen , please. lauren: what a rally. stuart: dow is up 359 points all

of a sudden the thing goes straight up now that's a solid rally indeed. the nasdaq though, a tiny slippage, down 4 points and here is what we have coming up. we're told that demand for gas is falling, is that a recession indicator? i'll ask gasbuddy patrick de haan. did you see this a video. an nfl referee got hit in the head with a ball while announcing a penalty. he completely, he remained completely unphased. boom! good luck, guy. lauren: wow. he's my hero. stuart: question? will donald trump give the white house another go? listen to this. >> i ran twice, i won twice, and now, in order to make our country successful, safe, and glorious again, i will probably have to do it again. stuart: [laughter] okay, at this point, i think it's fairly safe to say that mr. trump will be running in 2024.

we'll get into that. ♪ ♪

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stuart: i just remembered the name of the town that i thoroughly mispronounced when i first came to america. i called it mamaronek, otherwise known as maronek. lauren: it will forever be to me as i pass it. stuart:wooster. it's an english name and i got it wrong. lauren: oh, okay. stuart: the dow is up 250, the nasdaq is down 34. a mixed opening this monday morning, tik toc's parents, planning to use the app to track some people's personal locations grady trimble has the story for us. do they want to find the location of specific americans, grady? reporter: well, stu, forbes says

tik toc wouldn't answer whether they were trying to track specific american politicians, public figures, journalists and others but this new reporting from forbes does indicate that the app was planning to pinpoint specific locations of american users. of course the concern in this case and across-the-board with tik toc is that its parent company bite dance based in china would use that data nefarious purposes. >> anybody using tik toc is generating quite a lot of information about their preferences and while it might seem like their references, that information can be enormously useful if it's available in very large-scale, which of course it is. reporter: tiktok denied forbes reporting about location track ing and claims it only uses your general location, not specific location, to deliver targeted ads.

this only adds to the scrutiny though of the social media app and its chinese parent company bitedance. former president trump was one of the first to go after tiktok threatening to ban it because of its ties to china. despite the criticism at a congressional hearing lost month , tiktok says it's not doing beijing's dirty work and the video you're seeing on your screen right now is another bad use of tiktok, recruiting americans to drive migrants across the border on the social media app, and all of this comes , stu, as americans are increasingly regularly getting their news from tiktok and 10% say they do according to new pew research and tiktok is looking to expand just beyond social media into e-commerce and music streaming, so it's getting more powerful or at least planning to, stu. stuart: got it, grady trimble, with the story. thanks very much, grady. take a look at china's tech stocks again, please, down huge this morning. will you look at that?

all double-digit percentage declines. ray wang is with me, our big tech guy. what's the problem here, ray, because these declines are simply enormous. >> yeah, a lot of it is coming from after the meeting with the installment of xi there and i think people are really getting scared. congressman prosperity, zero covid, attack on big tech these are all things starting to play into people's minds so international institutional money is am coming out there's about 2.5 billion left hong kong just in one-day, and it's one of the biggest outflows since 2014 and people are getting really concerned in terms of this policy and the policy shift s that are about to happen. stuart: it's really about cracking down on very wealthy individuals, cracking down on their power, like jack marr with alibaba. china is worried about this in equality, is that right? >> it's a lot part of that as well, there's a crackdown

almost 9 billion in sell-off on the chinese richest individuals and it's a crackdown on wealth and a crackdown on inequality and their version of that and basically we're seeing a shift to state-owned enterprises from privately-owned companies. stuart: okay, this week we've got big tech american big tech reporting this week. which of these big tech companies do you think gives the strongest report this week? >> yeah, microsoft, apple, and google are the ones that we're going to be taking a look at. google is important, because all eyes are on the search add business which is different than the social add business. advertisers have cut spending but will the growth in google cloud be enough to offset the advertising? microsoft is another interesting one, as well. the azure cloud business is doing really well and the intelligent cloud business they have and i think they are going to keep growing in the low 40s and 40% but pc sales are down and that's the part people are looking at and of course, apple, we are hearing iphone 14- plus sales are down but that's on the lower end of the

market. the pro-max apparently are doing very very well and the services side of the business and so all eyes on these earnings to see if they can keep up with the big tech growth. stuart: real fast on twitter. musk has to close the twitter deal by friday, or he goes to trial. what's your prediction, what happens? >> i think he's going to close. there's really no way out. it's pretty much locked down. he's got to figure out a way to make these apps sellable to the market. stuart: it's a big loss for musk isn't it? >> it is a big loss, and he's going to go into a lot of debt for that on the twitter side. they will have to actually do 800 million in layoffs and more. even though they keep saying they aren't going to do that. stuart: not good. ray wang, thanks for being with us very timely appreciate it, see you soon. pinterest just announced a partnership with head space, that's the app that provides mental health resources. what's this about? lauren: well, content creators, or influencers on pinterest say they are stressed out, they are burned out, because they have a job posting short videos

all the time. >> i realize that i traded my 9 -5 to work 24/7 instead. not a second goes by i'm not thinking about making content. i don't watch sunsets or have moments with my friends without being like can we do that again? i wasn't recording. lauren: i mean, come on. it's stressful, sure, you have to cobs taply think how something is sellable in a short form, but is that hard work? i interview people all the time on my podcast. they make a million dollars a year and get life for free. take the kids to disney for free , just post really cute short videos about it. so, pinterest is concerned about their mental health and they are giving them free access to head space meditation, breath work, pinterest is doing that. i don't think meta is or any of these other social media companies. stuart: welcome back, lauren, it's good to see you in such great spirits. lauren: [laughter] stuart: pay attention to your bottom corner the dow is up 410 points and listen to this. you heard of the triple-d exmic,

covid, flu and other infections. if we're supposed to be worried about it this winter, all i said is a big shrug. dock siegel coming up. democrats limp into election day without a bumper sticker. joe concha wrote it. i'll ask him, hey, have the democrats thrown in the towel? ♪

then i got the dexcom g6. i just glance at my phone, and there's my glucose number. wow. my a1c has dropped over 2 points to 7.2. that's a huge victory.

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stuart: president biden's student loan handouts are on hold after a federal appeals court blocked it, temporarily. edward lawrence at the white house. all right, edward what happens next? reporter: yeah, and before we get into that i've got one for you. it's lancaster, or lancaster depending if you're in pennsylvania or south carolina. now, on to the student loan. lauren: [laughter] reporter: so in order, the order from the eighth circuit court of appeals says it will be in place for a short period of time while the court considers the ruling. now the white house still urging americans to go forward and apply for that student debt relief even though the plan has been paused. now, in a statement from the white house president secretary karine jean-pierre it says the temporary order does

not prevent borrowers from applying for student debt relief at studentaid.gov, and we encourage borrowers to join the 22 million americans whose information the department of education already has and senator joni ernst believes the president is trying to pull attention from inflation in favor of free money for some while others pay. >> it's not student loan forgiveness. it's not debt forgiveness. it's debt transferance, and we have many hard working iowans picking up the tab for young people now who signed on the dotted line that they would repay these student loans. those hard working taxpayers are now picking up the tab for all of those other folks. reporter: and the president still not backing off that $400 billion student loan forgiveness plan saying increase taxes will pay for it. >> the point is, we can afford this. we can afford this , and one of the things we did in order to pay for a lot of these things is

we thought it's about time that some of the super-wealthy corporations begin to pay their fair share. reporter: from the white house perspective it's important before the mid-term elections to tap into that student vote, and that student passion. stu? stuart: edward i was waiting for the leaf blower to start up behind you but they have given you a pass today, you lucky why. >> in the last half hour they were going but they did stop before the show so maybe they read the friday e-mail. stuart: see you later. back to the markets, please. a gain for the dow 400 points higher. remember this , united health, goldman sachs, home depot, they are all dow stocks, all sharply higher. that adds 125 points to the dow, but even without those three stocks you still got a gain of 300 points for the dow. good gain. still ahead, gasbuddy patrick de haan, joe concha, mike rowe, and nigel farage. the 10:00 hour is next.

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