stuart: all right, who was the first president born west of the mississippi, lauren? warren harding. stuart: i'm saying william mckinley. >> oh. >> the answer is herbert hoover. he was, herbert hoover was born in west branch, iowa, 1874. that is just west of the mississippi. don't forget to send us your "friday feedback". send your videos. don't forget to say you're watching "varney & company," we might president you on tv. >> can't believe it is friday. stuart: is surely is. quite a week with big tech, politics all the rest of us but we've been glad you've been with us. time is up for us. neil, it is yours. neil: stuart, thank you very much for that. we're following a lot of developments, certainly biggest story right now certainly has to

be the mcrib. you heard me right, mcdonald's out with better than expected sales. now saying the mcrib will be the final farewell tour. this is the same kind of strategy that the folks behind the halloween movies used to say the latest movie would be the last of that genre. by my last count there were 612 "halloween" movies. i think they're working on 613. the mcrib, on again off again appearance for the public. they're saying its appearance will be the final one. i want to get that out there because a report of people are focused on losing money, gaining money, technology stocks collapsing or meta cutting in the quarter. mcrib, back one last time. susan li is excited about that but she had to focus on business at hand out west in cupertino call, california with, the big apple numbers out there, amazon

out today. we need some sort of good news on the tech front. maybe, maybe these guys provide it. what are you hearing? reporter: consumer indicator, the mcrib, 1000-dollar iphones. that is what we're expecting later on today for these apple results. what indication do they give us on discretionary spending from the consumer. how many iphones go from 600 to $1000 are consumers willing to buy? how well the supply chain, strong dollar impact with higher rates, how much is that cutting into the bottom line. this is being called a seminal report card by wall street analysts on apple, the world's biggest company. can they with stand the economic slowdown we're seeing around the rest of the world. we have one week of iphone 14 sales in this report card. guidance will be key heading into the all-important holiday shopping period where apple sells the most iphones in a three-month period of the year. also the product mix. if we can bring up this graphic

for you how much services, that means the apple music, the apple tv plus, the apple care, how much of that now makes up of apple sales? that is around 25% on the year. 50% now of iphone sales, that is how much of the services make up. but also don't forget they raised prices on apple tv plus per month, 6.99. apple music, apple one bundle will coast you more. there is inflationary pressure on the world's biggest company. after the report card i will speak to apple's management team, ceo tim cook, cfo, luca maestri look at indication on next three months forward. they likely won't give us any sales on according to deutsche bank. deutsche bank and other analysts are expecting deceleration when it comes sales growth. after the tech wreck this week we've seen from meta, apple, get amazon, later on today, not apple, pardon me, microsoft and meta.

people are hoping the world's biggest company apple can hold up a little bit better. we'll see when the results hit the tape. back to you. neil: normally as a group they tend to all be in the same sync. they all do well together or poorly together. hail mary pastime for apple. technology investors want to see that. thank you very much for that, susan. we're following up on twitter. pretty soon that will be a privately held company. the guy owning it will be the world's richest man. he telegraphed all sorts of things. yesterday appeared at company headquarters in san francisco with a sink, don't ask, do pell tell. a lot of people wondering what that is about. what he could be hinting down the road. kelly o'grady from los angeles. reporter: i took that everything but the kitchen sink allowed on twitter. i love the little metaphor. a couple weeks ago we wouldn't expect him to be strolling into twitter headquarters. all signs pointing to this deal is a go.

i want to show you. he changed his twitter profile reflect the new role. styling himself as chief twit, which i loved. money is on the way. musk sent his borrowing notice to banks. they have begun transferring the money. to be clear it hasn't hit twitter's account and the suit has not been dropped. the stork is trading under $54. even wall street is convinced this will go through tomorrow. the new york stock exchange is suspected to suspend trading of the stock tomorrow. he will reportedly address employees after walking back that idea to slash 75% of headcount. but for me the most telling the sign the deal was going through was today's open letter to advertisers that he tweeted out saying he is buying twitter to create a digital town square where a wide range of beliefs can be debated. he shared this, twitter obviously can't become a free-for-all hellscape with anything said with no consequences. our platform must be warm and welcoming to all where you

choose your desired experience. we also got a taste of what the new company will look like. he shared he aspires to be the most respected advertising form in the world but ads needed to be relevant and targeted that would play into users are real. talking about the spam bots and increasing revenue more attractive to advertisers. this looks like this will close by the court's deadline tomorrow t feels like a closing of part one. this letter indicated his grand vision but he also said he could fail. he will have a somewhat hostile workforce making financial, philosophical sense of that 44 billion-dollar purchase. the question comes, can he turn this around? neil: what is wild to me, kelly, very analogous when you close on a home, right? you're there at the closing. waiting for funds to be wired, in this case about 15, $16 billion worth from banks. everything has to fall into place perfectly. that money has to be wired in and everything settled by

friday. is that still doable? reporter: right, yeah, now it is you kind of get to go to figure out like using your home analogy, what alterations you're going to make to the home. yes the money is expected to hit their account tomorrow. that should be doable. he is already moving in. certainly a more expensive house than i will ever buy in the future. it should be interesting to see what he does with this. neil: if it is a house, you wonder where is the sink, honey. where did it go? oh, elon musk has it. thank you very much, kelly o'grady following all of that. the implications for technology and everything else with luke lloyd, back with us, strategic wealth strategist, ann berry thread needle ventures founder. ann, people are hanging their hats not so much on tesla, for example, what happens with twitter, same owner, what will happen with technology in general of a company of a company it seems has disappointed. a lot of people who thought the

worst of the tech sell-off was over, getting a rude awakening, despite interest rates tumbling today which would normally be an advantage to tech stocks. so it does add to the pressure of these apple and amazon numbers after the bell. what do you think? >> yeah. neil, that's right. we have to demarcate factors. interest rates going up from a technical perspective the outlook for the present value of free cash flow from these companies has gotten worse. what we're seeing is something very different. ad spending, marketing budgets, getting slashed that is independent from the most part from the interest rate dynamic. that is the market's way of saying demand for some core tech products is declining. a very different dynamic. about waning consumer certainty meant. the declining industrial sentiment. what we need to see after the bell from amazon real insight how the ad numbers are doing as well. neil: luke, i wonder as we watch

amazon down 33% this year, a littleless for other tech names, but still appreciable, a lot of people are holding on to the purchases because they were great moneymakers for them so how do you advise them going forward just when they thought they were rounding the bend, we get the news out of microsoft, out of google, meta, thinking jeez, maybe i ought to sell out. what do you tell them to do? >> yeah, so i think a lot of the big megatech cap or megacap tech names still have downside to go. this whole system, you have to remember was built on debt both from the consumer and business side. that includes many of these tech names and megacap tech names as well. the once invisible, invincible megatech cap names are not invisible and invincible anymore. everyone works fine and dandy everyone can afford to buy new iphones and digits from apple and amazon, right?

you can't afford groceries and gas anymore. the last thing you're thinking about is buying an iphone. a lot of people realize what mapped in the next cade, won't be environment for the next decade. consumer behavior has decreased dramatically over the past two decades. in the '90s, people were not comfortable having debt. now debt is like a drug, more you take, the more acceptable in your mind to take. individuals are getting if trouble and companies overall. the overall tech sector you have to be very extremely cautious about right now because things start with small businesses. go up to small caps, mid-caps, large caps, and then megacap tech names. i think that is what we're seeing right now. neil: having said all that, ann, we got latest quarterly report on gdp which disrupted two months of contracting quarters in a row. there are a lot of reasons for that. i getted trade thing, all of sudden, the stock shelves being sold at a discount, get those

goods out of the way, but that 2.6% estimate for the latest quarter, is it a sign that the recession is coming on? or is this just sort of like a head fake and we're back into something pretty bad, what do you think? >> oh i hate to be bearer of bad news i think it's a head fake, neil. the reason i think that, when you look at labor market trends, the labor market has been very strong. we're seeing lots of waves of layoffs being announced. we're seeing in consumer sentiment less confidence among the u.s. consumer which is such a critical part of the economy. as we get through holiday season, we see what spending looks like as we see continued earnings downward surprises which we all think with the major industrial companies. unfortunately we're set to a bit of a down growth out look for the next year. i don't think we're through the woods. neil: having said all of that, luke, packed airplanes, restaurants hard to get into, strong sales activity, despite

rising prices at mcdonald's. mcdonald's bringing back mcrib, don't get me started on that one, one final time i'm told by the way -- >> bring back the snack wrap, chicken snack wraps. neil: one beautiful, edible, my friend, that doesn't coincide with a consumers calling it a day. consumers have been fairly resilient through this will they continue to be? >> credit card debt, credit card dent, and more credit card debt. that is what we're seeing, neil. i tweeted this morning after the gdp print. caring only about massive growth in the economy, not consistent growth is exactly with the problems we're dealing with now. debt has a new meaning now. people are comfortable taking on debt. massive growth doesn't matter in the long-term if you can't sustain it, right? when you look at this morning's gdp numbers, consumers held up pretty well. credit cards head up with that.

eventually credit card will not hold up consumer spending. government spending went up massively during the third quarter. the government spending i referred to is inflationary, not good for consumers, right? exports got stronger with the american dollar compared to other currencies. will the dollar hold its strength? maybe. when you dig deep, third quarter read is most likely unsustainable. my biggest concern is inconsistent lacking growth of the economy over the next few years. unstable growth is an environment we haven't seen for a very long time. neil: you have affected my appetite now. i might not eat that mcrib sandwich. then again i'm thinking better of it. >> i will eat it for you, neil. neil: there you go. pick your train what kanye west is up these days, how he is repudiated by many in corporate america. more and that, in the meantime there is something about rallying around a bee leg disburden politician, democrats do it with john fetterman in pennsylvania, republicans are gathering around to support

herschel walker in georgia. you will never believe who, after this. ♪. as an independent financial advisor, i stand by these promises: i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com ♪ ♪ ♪ ♪ ♪ ♪

♪ ♪ ♪ ♪ ♪ what will you do? ♪ what will you change? ♪ will you make something better? ♪ will you create something entirely new? ♪ our dell technologies advisors provide you with the tools and expertise you need to do incredible things. because we believe there's an innovator in all of us. 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.

psoriasis really messes with you. try. hope. fail. no one should suffer like that. i started cosentyx®. five years clear. real people with psoriasis look and feel better with cosentyx. don't use if you're allergic to cosentyx. before starting get checked for tuberculosis. an increased risk of infection, some serious and a lowered ability to fight them may occur. tell your doctor about an infection or symptoms or if you had a vaccine or plan to. tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reaction may occur. best move i've ever made. ask your dermatologist neil: all right. allegations that herschel walker has another woman for who he paid for abortion. she has not been publicly identified.

he denied it, another attack on the part of his opponent. not justified, having said all of that, the support is coming left and right, or i should say within the republican party, right and right for herschel walker right now, including a republican senators ted cruz and lindsey graham will hold a rally with herschel walker on all of this. steve harrigan with the latest. reporter: neil, herschel walker wrapped up a rally in cumming, georgia, 40 miles north of atlanta. there were expectations he would talk about abortion. would not address the recent accusation. the woman, 30 years #, unnamed making an accusationed that walker pressured her to have an abortion. he spoke with the issue with fox's bret baier? >> well that is a lie. i have said that's a lie. i hope people can see right now that rafael warnock and the left will do whatever they can to win this seat back but i don't think

they realize they messed with the wrong georgian here. reporter: the unnamed woman who spoke but only off-camera made those accusations has not been named but her attorney did speak on camera. >> mr. walker drove her to the clinic and waited in the parking lot for hours until the abortion was completed and she came out. reporter: democratic senator rafael warnock has said this abortion issue points to a larger problem with walker. the campaign released a statement that says we know herschel walker has a problem with the truth, a problem answering questions and a problem taking responsibility for his actions but as you mentioned, neil, republican leadership still standing with walker. he campaigned this morning here in georgia with senator lindsey graham. neil, back to you. neil: thank you very much. steve harrigan in cummings,

georgia with all of that. democrats doing the same thing rallying around their beleagured senate candidate in pennsylvania and bringing out the big guns to do it. what is going on there? reporter: neil, look as anxious democrats expressed concern that about lieutenant governor john fetterman's debate appearance perhaps being a mistake the fetterman campaign is trying to change the subject, shifting the focus back to abortion. fetterman's campaign releasing a new ad attacking dr. mehmet oz on the issue of abortion. the campaign says they raised two million dollars since the debate. last night fetterman held a rally in pittsburgh in front of 3,000 people, headlined by the dave matthews band. >> not only we are still standing. we are still winning. i may not get every word the right way but i will always do the right thing in washington, d.c. [cheers and applause]

i have a lot of good days and every now and then i will have a bad day. reporter: obviously fetterman addressing his debate performance. he suffered a stroke over five months ago. after tuesday's debate democrats released an ad of former president obama urging people to vote democrat up and down the ballot. republicans though are openly arguing fetterman's performance tuesday night was not only quote, disqualifying as "new york post" editorial board puts it proof after coverup to hide his unfitness for office. here is dr. oz last night on "hannity". >> duplicitous effort to hide his inability to defend his extreme positions but he raised two million dollars yesterday after the debate from democratic donors who just want to support him becoming the 51st senator. reporter: and while the white house has not said if president biden saw tuesday night's debate some pennsylvania

voters who did watch it are feeling concerned and confused. >> you got to feel a bad for a man recovering from a stroke. he should be at home recovering and not running for united states senate. >> unfortunately for fetterman i don't think he is up to it. >> i think dr. oz won but fetterman look ad little scary, sick, but, i still like him as a candidate. reporter: in a pep rally of sorts tomorrow night fetterman will be one of the speakers at the state democratic party dinner here in philadelphia which is headlined by president biden and vice president kamala harris. neil? neil: brian, thank you for that. bryan llenas. want to go to the axios senior correspondent, fox news contributor. josh, i look forward to have you on. i want to pick your brain on this. the one common link with

herschel walker and john fetterman thing each party rallying around each beleaguered candidate no matter the controversy. how effective is that when you see it? >> that is such an important point, neil. it tells where our politics are in 2022 in that controversies or scandals or health conditions, that probably would have been disqualifying for a candidate 10 years ago now doesn't move the needle quite as much. people are looking at the battle for the senate as like a parliamentary election and they will vote for any republican or any democrat as long as that gives their party the majority. i think in the case of fetterman, being able to do the job is a crucial factor at a time when undecided voters are really figuring out where they want, who they want to vote for. there are a lot of undecided voters in that pennsylvania race. i do think that these scandals, these controversies, these health issues do matter a little bit. why herschel walker isn't

pulling away in georgia. i think you will see some polling showing fetterman will take a little bit of a hit from his debate performance this week. neil: wondering who gets hit more though in that case, john? in the case of fetterman, recovering from a stroke, a lot of people felt bad for him, as a couple voters were pointing out in the bryan llenas piece, they said that is a demanding job, he should be physically up to it, no matter what you personally think of the guy. herschel walker is another case, another woman making accusations that you know was urging her to get an abortion. that one three decades ago. it seems like he has been relatively stable through all of these attacks, but fetterman might be a different case. what are your thoughts on that? >> so, the wind is at the republican party's back. the environment is very, very favorable for republicans right now. so certainly fetterman has a lot more to prove. i think one of the worries that democrats are having with

fetterman with that debate performance is not just the health issue but he really struggled to defend his positions on fracking, on crime. these are major vulnerabilities that democrats needed a robust reaction to dr. oz's attacks on the debate stage. it just wasn't there. if you watched tv, neil, in pennsylvania, almost all of the ads are about crime, rising crime in city of philadelphia and across the state. that, you need to have a candidate who is able to push back aggressively. in addition to answering the questions about health and, you know, democrats i talked to didn't think the performance on the debate stage was able to do the trick. neil: josh, you're so good at this. i tend to follow the money because i'm fox's resident nerd. i wonder where it is going? you make your bets on races you think you can win. i was intrigued to see democrats are spending, 7, million dollars on three congressional races they have a shot on, holding on

or gaining some seats. maybe not enough to tip and keep the house but that is where and how they're prioritizing. i'm also seeing their heavyweight celebrity, barack obama, is going to be helping out in wisconsin, in michigan and in pennsylvania next week with this big event, with president biden but i'm looking at all of those areas they're going to. they're all bluer than blue states. they might not be after this election. maybe that is what barack obama is identifying, but i do remember donald trump in 2016 going into unsafe states, what would conceivably considered unsafe, battleground states that typically go to democrats in 2016, richly paid off. he rolled the dice. i don't see a lot of rolling the dice on the part of democrats here. they're within their safe comfort zones, as you accurately point out might not be so safe anymore. so they're trying to lock it down, but what do you make of that? >> yeah, you're right, neil.

follow the money. follow where the money on both sides is being spent. when you look at that money, republicans are putting $30 million or more in districts that joe biden won by double digits in 2020. these are pretty solidly democratic parts of the country. like you said, neil, jersey, new york, california, oregon. they're even spending a little bit of money in three seats today that i just learned that biden won by 20 points in the last election. this tells you where the mood of the country is right now. you're seeing states like new york, california, oregon, connecticut, rhode island becoming big political battle battlegrounds about those races, those contests being competitive in some time. that is telltale sign what the mood is looking look right before the election. neil: i have not had the pleasure lately, josh, i want to get your thoughts on the senate, and it potentially switching. as you see things now, i know a

lot can change in these 12 days, what do you think? >> boy that pennsylvania race that will tell you a whole lot which way the senate winds are blowing. i would also add "the cook report," the gold standard of political analysis moved arizona senate race into tossup. they had it lean democratic. if arizona, which is, republicans are worried about their candidate, blake masters, someone who is little bit flawed like masters can still win, that tells you senate, not just about a republican majority. they might gain 52, 53 senate seats. neil: that would be a switch to republicans. pennsylvania, that would be, you know, keeping a democratic or a republican senate seat in place if the republicans manage to pull that out. so it is all about gaining. we'll watch very closely. josh, thank you. very good seeing you. >> thanks, neil. neil: we're up 300 points.

nasdaq not benefiting in the sharply lower interest rate environment. meta has a lot to do with that. it has lost a quarter of its value in one day, down the lowest better part of six years. we're on top of that, why technology is going one way, praying, i do mean praying how everything sorts out after the bell when we get information out of apple and amazon, two big heavyweights after this. ♪ (vo) while you may not be closing on a business deal while taking your mother and daughter on a once-in-a-lifetime adventure — your life is just as unique. your raymond james financial advisor gets to know you, your dreams, and the way you care for those you love. so you can live your life. that's life well planned.

this isn't just freight. these aren't just shipments. they're promises. big promises. small promises. cuddly shaped promises. each with a time and a place they've been promised to be. and the people of old dominion never turn away a promise. or over promise. or make an empty promise. we keep them. a promise is everything to old dominion, because it means everything to you. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so...

...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones

neil: they call it thinking about the unthinkable, what china and russia seem to be doing in concert, even though a lot of their actions often times appear independent, they might not be. griff: jennifer griffin following all that out of the pentagon. reporter: i came out with a rare briefing with defense secretary lloyd austin. they released three significant reports today, the long-awaited

defense strategy, the its nuclear posture review and missile defense review. this classified version was given to the congress with the president's budget in the spring but delayed by months because of the russian invasion of ukraine. it delays out the president plans to stop the geeing threats against russia and china. vladmir putin said ukraine is planning to use a dirty bomb. is putin bluffing? >> we have not seen anything to indicate that putin has made a decision to use a dirty bomb. nor have we seen any indications that the ukrainians are planning such a thing. reporter: president putin just gave an unhinged version of reality in pan annual national security speech in which he accused the west of playing a dangerous and bloody game in ukraine. president putin directly accused ukraine of planning to use a dirty bomb which many fear is a pretense for russia to escalate or use a tactical nuke. this after he personally oversaw

russian nuclear exercises yesterday. and it carried out a hypersonic missile test today. the new pentagon defense strategy explains why it sees china as the pacing threat. quote the peoples republic of china, or prc is accelerating modernization, expansion of its nuclear capabilities. the united states and its allies and partners will increasingly face a challenge of deterring two major powers with modern and diverse nuclear capabilities. the prc and russia creating new stress on strategic stability. yet in the pentagon's nuclear posture review the biden administration decided to retire the b-81 gravity bomb and cancel sea launched cruise missile program. a risky decision to announce as russia continues to make nuclear threats to ukraine. they have currently 2000 tactical nukes compared to the u.s. which has a few hundred. also rather risky right now,

neil, as china eyes it taiwan. neil: two worrisome threats, jennifer. thank you very much. to have my next guest in person, no less, know him michael walls, florida congressman, house science committee, former green beret. i generally don't ask tough questions of a guy who can beat me up and he is in person. we'll see what i can do. honor to have you. >> thank you, neil. neil: as always thank you for your service, sir. let me get your sense so much going on with the economy. the backdrop here is the craziness with russia, vladmir putin even mentioning tactical nuclear weapons. >> right. neil: china, provocative by the hour, minute, day, with taiwan and so much else. that is a twin threat that we sometimes get lost talking about inflation which is a big issue. >> i was out in taiwan, the philippines and guam and increasingly the sentiment is not if china invades taiwan. it is just when.

there is debate when it will happen. neil: really? it has got into that point? >> it has got into that point. neil: -- it doesn't care? >> the risks are becoming more manageable from xi's standpoint. he solidified power in his own hands. he humiliated his predecessor. neil: the guy is walking out, a former leader of the country. >> like a scene out of a mafia movie, that has never been done in modern chinese history. neil: what does that tell you. >> he solidified power, telling pieces in place not only to be able to invade taiwan militarily by 2027, that is when he told his military to be ready to go. to stop the united states from intervening, including sink our aircraft carriers out in from space and nuclear weapons to have a deterrent there. that is incredibly concerning.

what is bothersome about the new strategy that the biden white house released it mentions china nine times, it mentions the various services, army, navy, air force, marines, space force once, even though they're in the midst of a recruiting crisis right now. it mentions climate 63 times. it says they have to double down rooting out extreme in the the in military even though their own study says it is virtually northern existent. we need to do what we need strategically. by the way the last budget they introduced was a cut. neil: talk about the thinking on china. maybe it is on the view people that follow money say well, it is not in china's interest to do something like that because they would be economically isolated around the world much like russia has and they have a lot mower at stake. they're a much larger economic power, a lot more money involved. >> right. neil: why would they do that? >> a couple of reasons, one, it

is idealogical. number two xi is a dictator. he established his rule for as long as he wants to be there and he sees it absolutely as part of his legacy. in fact in his speech last week he said we're not going to pass on the taiwan issue to a future generation. this will be settled on my watch. then number three, he also, if you follow closely economically, is creating independence for china, technologically in other key areas. then also creating dependence, global dependence, whether on lithium, pharmaceuticals, even railcars and that's where i think wall street and this city needs to wake up. there is a very serious potential conflict coming and the key part of the chinese strategy, use our supply chains against us. will the united states public support a defense of taiwan if the chinese communist party cut the off our antibiotics which we

know longer produce here? if they cut off lithium for batteries for the green new economy. we can go on a list of things we're completely dean pend dent on china to manufacture. we have to get the supply chains out of there, bring them back here, get them to an allied country. neil: what if it is too late? >> well, this is a race against time. neil: right. >> at this point. neil: real quickly, politics, don't mind getting back to that, how you think the midterms. >> can't avoid it. neil: looks good for republicans in house. what about the senate? >> look i think we take 25 to 30 seats in the house. there are far more people that are worried about groceries and gasoline than they are abortion. which is being settled at the states which is appropriate. neil: seeing record early voting in florida as well. >> we have. neil: georgia as well. >> notably in georgia despite all of the outcry about, about record numbers. neil: absolutely. is that telling you you think?

it's a gut call i know. >> we're seeing, it is not even a gut call. we're seeing in the data that the motivation of voters particularly on our side, that have had it with this economy, out out of control crime, out of control border, and the world on fire with our adversaries perceiving weakness in white house. they're coming out to vote, i think they will vote big time our way. neil: congressman, very good seeing you. we'll see what happens. as the congressman wrapping up, we're mentioning china, in the china city of wuhan if you think about it where covid began, they're in a partial lockdown. i don't know how many people are affected. they have a population of 15 million. how many are in the partial lockdown as a result of spike in cases. keep in mind china has no tolerance policy in this, one or two cases pop up it is a shutdown. that just happened in wuhan.

we'll keep you posted. stay with us. ♪ (music) progress... (music) ...innovation... (music) ...discovery? or simply stability... ...security... ...protection? you shouldn't have to choose. (music) gold. your strategic advantage. (music) visit goldhub.com.

♪. neil: those anti-semitic comments coming back to bite kanye or ye, whatever you want. almost every moment here. the other day popped up yesterday outside the los angeles offices of, what was the guy's, skechers, right? and they, they dismissed him out of the building. took him out of building kindly, nicely. they are not taking kindly to what he said, want to cut off any relationship with him. they're the latest now close to half a dozen companies that are partially or fully untying their ties to the artist. luke lloyd back with us, ann berry back with us. luke, i was reading, the guy was a millionaire a week 1/2 ago. now he is down to half a billion dollars. i mean, so now he is back in your league, luke, but i'm

wondering -- >> i wish. neil: what do you make of this? it is pretty fast. >> yeah, the thing is, neil, people in today's world say and do things just for attention without the fear of consequences. i think he has got himself into trouble, monetarily as well from the long term. i don't know if he can come back from this. kanye is a performance artist. he likes attention. wants to ruffle feathers to get people talking this guy showed up unannounced skechers headquarters expected to meet with the executives, right? not telling anybody. that is one of the biggest issues in society today. people say things for attention no matter how factual or true they are in saying that. the first amendment is probably the most important amendment that truly defines america but when free speech and speaking your mind turns into hate beach, that is not acceptable. i'm not a kanye west guru. i don't really follow him that much but what i do follow is the environment we're heading down and kanye is getting a lot of attention on social media, he

also acquiring a social media platform, parlor, right? my problem with the world from both individuals and corporations is living in our own echo chamber. kanye is making his own echo chamber with parler. echo chambers will divide america during a time when we all need to come together. i purposely follow people i disagree with. i think the sharing of opinions is great, right? we need to get away from echo chambers. neil: i hear you. i like to be around people who praise me myself because i can't deal with critics. but that is a separate issue. ann, i'm wondering what this might signal? those that live and talk by the sword can live or die by that sword, i guess. that is the key to his success or fame that he irks or pricks at people, then they realize it is kanye all of this. has he gone too far? has he permanently damaged goods? people said that with his fives to donald trump and the wets and he survives? >> neil, i should begin the answer with a compliment i know

what kind of echo chamber and positivetive you want to be, i think he has been categorically canceled. the difference here which the speed these corporations, whether adidas, whether balenciaga cutting him off. neil: right. >> what is amazing the huge size of losses these companies are willing to bear, over $200 million adidas is willing to eat to cut that contract. thatthat is a statement that gos above and west what happened to the kanye west in the past. this is statement by these corporations. neil: they were unequivocal about this. guys, thank you very much. show your attention to mortgage rates, 8.7%, the highest since 2002. they're having demonstrable impact on home sales but not like we had with the melt down, a slow down, but not a meltdown. we'll tell you why that is after

this. ♪ ♪ ♪ ♪ ♪ ♪ ♪

♪ choosing miracle-ear was a great decision. like when i decided to host family movie nights. miracle-ear made it easy. i just booked an appointment and a certified hearing care professional evaluated my hearing loss and helped me find the right device calibrated to my unique hearing needs. now i enjoy every moment. the quiet ones and the loud ones. make a sound decision. call 1-800 miracle now, and book your free hearing evaluation.

neil: all right. this really shows you what's going on with interest rates. a 30-year fixed-rate, averaging

7.08%. that double a year ago the same mortgage was 3.90%. you have to go back to 2002 to be at these levels of rates here, but, but, there are alternatives out there, adjustable rate mortgages i might suspect might cushion the blow for people. some of the adjustable rates can last 10 years, giving you a chance to refinance at a lower rate. mitch roschelle is the expert on all of these things, macro trends advisors, founding partner, joins us out of florida as we speak. what do you make of the talk of a housing melt down, versus just a slowdown. where are you on this. >> i'm going with a boxing metaphor. i think it's a body blow to housing but it is not a knockout punch. the reality, housing like any tradeable asset has to deal with supply and demand and there is still demand there. demand has been tapered off a little bit because of higher

mortgage rates. people still need housing. we have very low supply, in the tease before the break, neil, you talk about how things are now, before how they were before the whole housing market crashed. neil: right. >> we had a year supply. we have a paltry three months of supply. the question how much demand is there to hold up prices? neil: there are pockets of markets, we had ashley webster in naples the other day, talking with some of the storm damage, not as acute as other parts of the state, real estate is still going for a premium and there are battles and bids on certain properties. i'm sure that is not the case throughout the state. certainly not happening across the country. play it out for me. what do you see happening? >> where i am on the east coast of florida right now, neil, there are still battles for properties but i think we've done this sort of big shift from the ultimate seller's market to one where bayers have more leverage. if the house needs fixing up the

buyer may get a break where six months ago that was the no the case. across the country, for the all-important american dream first-time homebuyers, they're feeling the pinch with mortgage rates double where they were at the beginning of the year. some of their savings depleted just from inflation. neil: so how do you see this working out? if adjustable rate mortgages that have, you know, they're not sort of like you lock in for a year or two, then you will get whammied here, what saves the day or cushions the blow? >> i do think adjustable rate mortgages will be back, not the way they were last time but i think they're going to be back in terms of popularity. i think if you want to get the biggest break you go with the shortest period. you go with three-year adjustable as opposed to the 10 that you mentioned. the other thing we may see interest-only loan where your payment is lower because you're not paying off any principle.

i think you will see a lot of that. people were borrowing against the brokerage accounts. they were getting favorable rates for the stock portfolio. neil: that will not be easy. >> that will not be easy as at all. neil: thank you, my friend mitch roschelle. dow up 320 points. nasdaq not going along for the ride. three hours to go. on what is surprisingly strong day. .. moving forward with node- positive breast cancer is overwhelming. but i never just found my way;

i made it. and did all i could to prevent recurrence. verzenio reduces the risk of recurrence of hr-positive, her2-negative, node-positive, early breast cancer with a high chance of returning,... as determined by your doctor when added to hormone therapy. hormone therapy works outside the cell... ...while verzenio works inside to help stop the growth of cancer cells. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor, start an antidiarrheal, and drink fluids. before taking verzenio, tell your doctor about any fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death. life-threatening lung inflammation can occur. tell your doctor about any new or worsening trouble breathing, cough, or chest pain. serious liver problems can happen. symptoms include fatigue, appetite loss, stomach pain, and bleeding or bruising. blood clots that can lead to death have occurred. tell your doctor if you have pain or swelling in your arms or legs, shortness of breath, chest pain, and rapid breathing or heart rate, or if you are nursing, pregnant, or plan to be. i'm making my own way forward. ask your doctor about everyday verzenio.