♪ >> the longest inaugural address. >> monroe. >> i would. i change my mind. barack obama. william henry harrison. he delivered a two hour special on a cold and rainy day. he did not wear a hat, no coat, he got pneumonia. he died 30 days later. it says that on the prompter. believe me. i am giving you a rally. >> you indeed are. the dow up. more than 1000 points. a lot at this built on inflation

news. not as worrisome as people had thought. that cpi reading coming up at about a seven and a half% annual rate. that is less than what we thought. further down substantially from the 8.2% annual clip we were seeing the month before. now there is a growing wisdom that may be interest rate hikes will not be as many or severe. way too soon to jump to that conclusion. fact of the matter is those that place that's on the overnight bank lending rate will be come december when the fed meets again. now they are looking overwhelmingly for about a half point hike. remember we have had for three-quarter hikes back to back to back. a little bit of 10 year note yielding about 3.85%. scott martin, what do you think about this and whether the market is getting ahead or about

right. >> and typical market fashion they get ahead good or bad. that is the fun and not so fun part of investing. that is a challenge i think that all of us have as investment and investment advisors at kings feel. look at where we are today versus where we are six months ago, the producer prices report soon to come out in the future, spending reports seeing coming into the end of the year, business confidence reports, all these things coming to roost showing that inflation is likely to calm down. the market itself is likely to preempt that recovery. 1000 points on the dow, my friend. >> looking at that and the backdrop for this, we are still expecting, i don't know where you are at on this, but we are

getting more language out of key federal reserve district presidents and others will be voting members next year saying this may be a good time to sort of tap the brakes. i am kind of overgeneralizing here. what do you make of that? >> where i am is austin texas. very beautiful. talking to a lot of folks around town and talking about some of the jawboning from federal reserve chairman jerome powell and some of the governors you talked about just then. i believe the fed has to talk tough now because they talked so easy for so many years and they got railed for it. everybody lost their confidence in the federal reserve when they kept interest rates too low for too long. as you have noted over the course of many weeks now, the fed has to pay attention to data. not only data that is concurrent , but they have to look forward and see what the

impacts are on those historic interest rate rises to realize that they do have to tap the brakes and therefore to if there happens to be a major recession and major deflationary cycle upon us, i think that cuts could be coming sometime later. when they see that data come through and actually does come through because they have tightened this year. >> elon musk will do away with remote work. he has probably been more prominent tech giant to indicate those days are coming to an end. i will want to pick your brain a little later. who else is joining him on that? the dow is about 981 points. interest rates are tumbling. oil prices jumping over 90 bucks a barrel. in the mid- 80s range here. that is still hi, but it is where you are coming from that determined the direction.

he kind of likes what he sees going from here. acknowledging they see the house of representatives. the senate is still up for grabs. how all of this figures in. if we are seeing the worst of inflation behind us, lucas, i am sure that is using two ears and the folks behind you, right? >> you've got that right, neil. the president is bowing no changes. keeping the ship on course and speed. >> i will not change anything in any fundamental way. i cannot aaron t that we will be able to get rid of inflation. i do think that we can. >> the president putting out a statement saying today's report shows we are making progress on bringing inflation down without giving up all the progress we have made on economic growth and

job creation. my economic plan is showing results. inflation just 1.4% when biden took office and it peeked over the summer. it has gone down now to 7.7% according to this latest inflation report that came out a few hours ago. experts warned inflation would spike if the covid relief bill passed last year. thanks to results, that special election in georgia, it did. another special election could have history repeating itself. it could give control over the committees and the ability to launch investigations into the president handling of everything from the hasty what draw from afghanistan, the southern border, covid origins and a investigation into hunter biden. when that came up at the press conference yesterday, the president was quick to dismiss it. >> i think the american public wants to move on and get things done for them. the american people will look at that for what it is.

it is almost comedy. >> president biden will meet its chinese counterpart at the summit on monday. >> is that bagpipe using behind you? >> it is, neil. it is not the white house official celebrating. neil: i got it. the economy is getting better. that is the most i will subject you to, lucas. thank you very much. i thought i heard that. maybe the new season of the crown. thinking of scottish music. we have sarah joining us. i will try to get a sense from you, you do not want to over analyze data from one month, but this notion that the worst of the inflation could be over. democrats are seizing on that. what do you think? >> they will tout any good economic news because they've

had so many months of bad economic news. i do think that joe biden's reservoir of goodwill with americans on the economy has more than dried up. the results suggest that in a lot of areas people were able to separate their economic restorations from who they selected as their representative those economic frustrations are still there. i do think that democrats may be risk learning the wrong lessons. continuing to ignore those economic struggles because it did not cost them as dearly as they thought it would. >> looking at the markets, there's been this great divorce from the prior one and regarding how much they pay attention to it, but they must look at a day like this because i know in their heart of hearts, a good many americans are directly or indirectly attack to the performance of that measure in all these other markets. they just keep it secret, don't

they. >> i think at this point the democrats, president biden are a long way from having to face any consequences for their handling of the economy. the decisions they make based on the decisions they make. it is a long way out. for them they can sort of steer the conversation away from this. he was accused of ignoring it before. now we can go back to talking about whatever his pet projects are because it will be a long time before voters have a chance to weigh in on all of this again. >> you and i have had a chance to talk about this quite a few times. whatever happens in the midterms that we have yet to sort this out, how much control the republicans will have in the house, but inflation is very real. there is a delay in some of these numbers that we get out and some of the numbers we are showing on food inflation,

energy inflation, that is palpable, but there can be a delay. the administration again is seizing on the notion, the inflation reduction act and all this other stuff, it is bearing fruit. that will be a theme you hear a good deal about. i am just wondering if the numbers do improve our come off their worst levels, whether that will gain traction. what do you think? >> ideal. even when their numbers were at their worst, clearly, voters did not necessarily hold democrats responsible for those inflation numbers. that was an assumption that republicans made. democrats were to blame. it was not clear that voters really bought that. at their worst, you know, voters were not connecting the inflation numbers to either party. they were not viewing them through a political lens. i think democrats will continue to benefit from those because they escaped blame when it was

far worse. >> i would be remiss if i did not get into donald trump. a lot are blaming his lackluster candidates for a lackluster showing. that is in the eye of the beholder. we don't know how a lot of key senate races will turn out. capturing at least three states, especially just two or three that are in doubt still, including arizona, nevada and georgia, they will have control of the senate. you have heard the attack line on the president and now with the attention on ron desantis, he is not all that anymore. what are you hearing on that front. >> if anything, what these results could do is empower some republicans within the party that i privately grumbled that donald trump is eating up all the oxygen. it is time to make room for a new era of leadership in the republican party and those conversations tend to make ron d

desantis that leader. they have not said that publicly because they fear that there will be consequences. voters would punish them. maybe voters themselves are also ready to move on and they are not going to punish at the ballot box republicans that choose to speak out against trump. that fear is diminished now. >> if the fear is diminished and he is no longer the bully on the playground, giving pause to take him on, then i wonder, the pressure builds on donald trump to either postpone or really postpone an announcement next week where they assumed he would have an announcement he would run. >> he is definitely facing a lot of pressure to cancel that tuesday announcement. not just because the runoff will be going on in georgia, it is a very razor in race that the

meddling could have cost republicans that seat. republicans want time to have these conversations about what the next two years will look like. whether they will coalesce around the idea that they want to advocate for new leadership. they don't have the time to coordinate that advocacy and away. to get donald trump out of the way it will take a whole party effort and people to advocate and that in unison. you just happy lives cheney's and adam can -- of the world. >> we will watch it closely. always great talking to you. the three states in question, and republicans would have to win two of these seeds to secure a senate majority, arizona, nevada and georgia. georgia will amount to a runoff, that will be decided on

september 6. the other two right now, they are a little, you know, problematic, to put it mildly. especially in nevada right now. we will give you an update on what is happening there and maybe this was a crapshoot. after this. ♪ is it possible the only thought that comes to mind is... ♪ finally? this is financial security. and lincoln financial solutions will help you get there. as you plan, protect and retire. ♪

neil: we are getting an update from our fox news decision desk, it's not a desk exactly about people that that around the desk and crunching numbers, they are crunching particularly those numbers out of the three states which of future the united states then it will hang nevada, arizona and georgia. right now it is a matter of counting the votes that are already out there. for example, in arizona, we are seeing the democratic candidate getting a chance to sort of move up a little bit here as precincts come in. the fact of the matter is it is still a ways to go. that race is far from decided.

nevada is a case to just counting the vote that they have. in this particular case, getting them from clark county, technically and often lady leans blue. jonathan is following that in nevada. >> good afternoon to you. good morning from las vegas. it is happening again in the midterms 2022. the nation waits on critical results here from nevada which are being slow down because of nevada's universal male in ballot system and constantly slow and methodical counting of two races. catherine cortez masco trailing at the moment by two points to her republican challenger. on the governor side steve

trailing i about four points to his republican challenger. as you rightly said it is all about the counting. the majority of the boat rn clark county which lead heavily democratic. in the first batch of mail and ballots got released yesterday and those drop box ballots, it appears on the senate side making up ground on adam. she is confident that when all the votes are counted, she will win. controversially, adam's team said they are confident that there will be enough from this solidly republican counties. we shall see. we will get another trench of ballot numbers tonight, we believe. the registrar of clark county

says it is a question of officials here doing the count right rather than fast. listen here. >> we expect the timeline to be what it is. i think turnout was good for midterm. we got more than we did. the dynamics are so much different now that we have mail ballot going out to all voters. it will be sometime. >> it is worth remembering that the republican candidate was the leading republican voice and pushing claims of wide spread fraud here on behalf of president trump in the wake of the 2020 votes. i spoke to some people from his campaign team today. they say they have not seen any major irregularities voting this time around. it will be interesting if they

stop discovering those. >> great coverage. he will update us with any more news that comes in. the republican wisconsin congressman elect. what is remarkable is very safe democratic seat that is been that way for almost three decades. congressman elect, congratulations. >> thank you, neil, i appreciate it rightly. neil: what got you over the top. you described it you are focusing on the economy. the fact that the administration , democrats, what do you think close the deal for you? >> three things. gas, groceries and grandkids. and it is that simple. people having a problem affording the first two and we are worried about the future of our children. that is an american issue.

neil: finish that thought, i apologize. >> go-ahead. i'm sorry. that came through crystal clear. focused on what i had been talking about and we put over 180,000 miles on my vehicles during this campaign. i've spoken to just about everyone i possibly can. that is what we will fix in d.c. neil: that is a lot to put on vehicles. i'm sure they were solid vehicles and you are always tuning them up. you are a retired navy s.e.a.l. my thanks for your service to this country. i am surprised more seats did not flip. it still looks, and you probably know this far better than i that republicans will gain control of the house, but not by the margin they had hoped. does that limit you when they get to washington? >> no, it does not hear it they thought that they had a mandate and they did not.

they destroyed the country economically within two years. they abandoned afghanistan without any consequences. a very narrow margin. the vice president had to cast votes as a tiebreaker. absolutely not it is not going to narrow us. we understand that the country is sick and tired of what has been taking place under this uncontrolled democratic rule for two years. no, neil. we will get there and we will get to work. what i think it's really interesting and i want everyone listening to understand this, we will represent everybody. 48% of my district did not vote for me. i will represent them as hard as i can like i will be doing for the 52% that did. we need to get back to a place in politics where we forget about the letters after someone's name and realize we are all in this together and we must accomplish the mission and

the mission is america. >> your opponent, given donald trump's backing, there are reports right now among some other republicans that donald trump should just lay low, maybe not make an announcement presumably that he will run for president next week and a lot are blaming him, you know, some worry some candidates that did not pan out and looking to people like ron desantis neared where you on all of this? >> there are two things that i can tell you for certain. one is donald trump will do what donald trump is going to do. the other thing is i'm pretty sure he will not call me for advice. i was very thankful for his support during this campaign. he did some tremendous things for our nation. you cannot deny that. you cannot. he did some fantastic things. if he wants to run, that's awesome. if ron desantis wants to run,

that is awesome, too. he is doing some great things in florida. he was stationed seal team five in iraq. i heard great things about him from the boys. both of those guys, i wish them well and whatever they choose to do. neil: do you prefer one over the other, sir? >> here is what i'm going to do, neil. i wish everybody would do more of this. i am going to do me. i will uphold the five promises i've made to everybody. i will not buy, sell or trade any individual stocks as a sitting member of congress. i think that should be illegal. i will not accept any money from big pharma. number three, i will introduce a balanced budget amendment. number four i will introduce term limit amendments for all members of congress in number five and most importantly, i will never apologize for defending american citizens. that just will not happen. i will do me. that is my promise to everybody.

i wish we could focus more on the country and not these individual personalities across-the-board. neil: whatever you did worked and you got elected. it was not expected. it was a herculean leap. congratulations to you. retired navy s.e.a.l. against all odds. flipping a democratic seat that had been that way for almost 30 years. we are focusing on elon musk today. he now runs twitter. including a call for everyone working remotely to get their families into the office and fast. after this. ♪

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neil: elon musk has a way of catching the nation's attention and his own workers attention that twitter. getting those working from home to get their families in the office. going all the way up to the president of the united states and what he is thinking about the world's richest man in the stuff he is saying and doing, well, you have jerry willis on your case right there and she is here right now. what is the president saying? >> incoherently, he is saying we need an investigation. we have heard it all before. president biden saying he favored looking into elon musk use of saudi arabian money to buy twitter. senator chris murphy has been calling on the committee of foreign investment in the u.s. to probe this. listen. >> i think that elon musk's cooperation and or technical

relationships with other countries is worthy of being looked at. >> all right. investment, nothing new there. kingdom holdings first invested 300 million and twitter 11 years ago. adding more shares over time thin signaling inmate it would rollover it stake to buy the social media company and take it private. democratic senator chris murphy calling on the committee of foreign investment in the u.s. to probe saudi involvement due to national security implications and this is not the first call for an investigation of the twitter deal. four weeks ago reporting that the biden administration was considering a national security review due to the perceived bias in favor of russia. tweeting the favor for a piece

deal between russia and ukraine. also coming under heat for cutting jobs and putting an end to remote work. in an e-mail sent to twitter staff, musk warning that a weaker economic environment in the u.s. could mean problems, troubles, for the company's ad business. lots of issues for elon as he tries to take the reins at twitter and turn it around. neil: interesting. thank you very much, gerri willis. i want to go to scott martin on all of this. we were talking earlier about the market come back. most of the technology stocks are better than 10% back on the day itself. i do not know how long that lasts but regarding these technology companies, they had been famous for this remote work that gerri was getting into. i believe that twitter led the way. more coming back.

the messages i want all of you back. and it is one thing for financial giants to say that, but when you hear from the people that started all of this kept at this, that could be a very different development. what do you think? >> agreed. a development that a lot of the young workers who are not me, by the way, surprisingly, they are not ready for it. facebook, google, also did similar things. speaking of tesla, too, elon musk said if you are going to work from home, you do not have a job. what a weird concept to get a job, having employer that treats you greatly, pay, benefits, you stay home and you don't go to work in yorkshire have to keep a job and actually go to the office. back in the day when i got out of college, many many decades ago, my friend, got to go to

work five days a week if you are lucky and maybe six. twelve hours a day, too, at some point because a work needed to get done. lost in translation with this work from home concept is the co-marauder reappeared really developing a business, especially times where we are under economic strife. >> when i was your age, young man, i would walk to school at o don't get me started. >> in a snowstorm in june. neil: thank you. >> we still know 10 and a half million jobs and here you have a ceo of a company that is flying in the face of that saying i don't care what the dynamics are in the pendulum still favors workers. this is my policy. i just wonder how many workers

take him up on that. especially at a time where he has just asked half of them. >> with the inflationary environment as we have talked about —-dash. >> a lot of them will get competing bids. i have a standing offer from ihop. >> me as well. waffle house for myself. great competitors. >> i think that, he is saying that he does not care about that. i don't know if that is a case of calling their bluff and other ceos going in the same direction, but where do you see this headed? >> calling the bluff. the answer is probably in the middle somewhere. this whole remote work think that blew up over covid has to unwind a little bit. our business being in financial services, we need people in the

office. there is a loss that the business has in having people spread out, people on the phone all the time, and zoom and so forth, some of that workforce that needs to be in the office back in the office will help businesses recover maybe even faster than the economy will. neil: great to see you. too fast food places. we will see how that works out. more with the remnants of another hurricane. nothing like we had, but no cold did pack a punch.

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now? >> well, neil, the sun is out and it is a stark contrast from when the category one hurricane nicole came ashore here just south of where we are standing just after 3:00 a.m. this storm with its maximum sustained wind of 75 miles per hour was less about wind and a lot more about water in the storm surge and beach erosion. take a look at this boardwalk. the wall actually collapsed. the damage started with the first high tide late yesterday before the storm even got here. you can see it broken off. all along the seawall, you can see the devastation tore up the wood frames there where the boardwalk is paired it is a popular area. you can see the concrete just wiped down from this erosion. not to this level. this will take quite some time

to clean up. part of the reason why the storm surge was so significant, a storm surge re- 5 feet, it coincided with the king tide. that is a rare type that occurs a couple times a year with the moon. the full moon and high tide. the timing was exactly the wrong timing because it coincided with the storm coming on. the tide is obviously very rough out there. don't want those surfers like myself to try and chase those waves. a lot of debris out there in a very dangerous currents. here in barrow beach they got lucky with the exception of a little flooding in this boardwalk. no major structural damages to commercial buildings restaurants or significant homes along this coastline. one thing is for sure they were surprised to get a hurricane. the last time a hurricane made landfall was 1935 in the yankee

hurricane. quite surprised to wake up today now the sun is out. life moves on in the cleanup again. >> soon enough you will be surfing again. thank you very much, griff jenkins. sunny florida. we are following a couple developments on the political storm front. we lose sight of the fact that quite a few airships on the line including a big one in los angeles still unresolved, we will have the latest on what is going on there after this. tending hives of honeybees, and mentoring a teenager — your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you help others. so you can live your life.

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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. neil: all right. you know, a whole bunch of races, so focused on the senate and house as we should be, one third of them up for grabs, as we should be, cities across the country there are battles even going on now to resolve what happened a couple days ago. we are in los angeles with a big one. liam. >> two candidates here. rick caruso and karen bass. we will not know a winner until probably sometime next week. this would be a huge upset should rick caruso hold this off because this is a deep blue city

president biden one by 80%. a former republican that just switch parties this year to run. he spent $100 million of his own money in this campaign. >> this election has always been about those that have felt left behind and unheard. let me tell you, i hear you and change will happen. >> karen bass as part of l.a. democratic machine with nearly half the city voters elf identified liberals or progressives. she was heavily favored to win. including president biden. >> we want to have a city hall that serves all the people. we want to city hall that is not just a city hall for the powerful. a city hall that is for everyone so that we can have the quality of life that i know that we deserve. >> what happens now, rick caruso

was up by 12,000 votes. but, less than half the votes have been counted. another half a million votes out there. why? voters can register and cast their ballot on election day. those have to be verified before they are counted. voters can mail in a ballot by 8:00 p.m. on election day and then they have seven days yet for that to be accepted. so next tuesday. the next update we will get his 4:00 p.m. pacific time on friday. in the primary bass. to have lost by five. in a week she won by seven. bottom line we will not know who is the next mayor of l.a. until next week. neil: thank you. appreciate it. crime is a big issue in the national elections pretty much everywhere across the country. do you know the fastest rising crime in this country, car thefts. in new jersey, governor phil murphy is putting into place a

number of measures and legislative proposals aimed at increasing penalties for repeat offenders and expanding pretrial services like house arrest and monitoring to put a list on this the columbus city attorney. he is going after not the folks that steal the cars even though key is paying attention to that, but the people that make the cars and make it too easy for the guys that make it to steal them. jack klein joined us now. i don't know if i explain that correctly but you are going after automakers on this issue that they do not have this technology to make them harder to steal. >> you framed it correctly. you are right on both accounts. we are going after the juveniles so far this year we arrested up to 500 juveniles.

we have deadly weapons in the cars are held accountable for shooting spirit their activities are dangerous. they are threatening themselves and others. going after the manufacturers. we have seen a 500% increase in the number of stolen cars. that is putting a significant burden on law enforcement officers. holding these folks accountable and finding them on the streets. the one suffering are the nurses, teachers, the ones that all needs late models. they have a fix, they just do not want to pay for it. >> at least a $500 ad on six. >> what they have proposed in columbus and across the country

as the old school club. lock your car with the club. they want to hand out a bunch of clubs to these workers working third shift. that puts the burden on them. that puts a burden on the workers. i have to remember to do this before i go to bed. the auto manufacturers have a fix. they can use a burden to pay for it but they are refusing to do that. i think that that is wrong. >> they do have a fix but it will cost you $500. it is rather common in other parts of the country. >> i think the burden should be shifted. it is their defect. it is their defect in the car that is allowing them to steal a car and 30 seconds. >> i understand what you are saying and excuse the aigner and spirit they have the technology, but it costs.

if a customer does not take them up on that and spending the extra money for that, why should they pay for that themselves? >> because it is their product. they knew that they had a defective product. >> this is not including the product. they just are not including it. they could tell their customers you have to pay for it, right? >> there is a reason why they specifically are the focus of this. most car manufacturers have this as a standard feature to prevent these steps. they are offering a $500 fixed to the consumer. if you are an hourly worker or a middle-class worker, that is a lot of money. they do have the fix. most cars are the subject to these thefts. there is a reason why they are singled out. they are easy to steal.

with a fix they should pay for, they could solve the problem. i cannot imagine, already have really difficult jobs, and they are doing a great job tackling this issue, but every time a car is stolen, that is an interaction that could end up between police and the people stealing the car. >> i don't know how it is by you, but in new jersey they don't lock their cars. they are not very vigilant about that. i am just wondering, does the burden fall on the individual? >> the burden would fall on the individual -- if you can break the window and you can use it to steal a car in 30 seconds, i am not sure why the individual would be responsible for the defective project. >> zach klein is the columbus city attorney. it is a rampant problem across the country. fastest growing crime in this

country, people stealing cars. right now some about the rally. still up on the dow. we were up over 1000. we will keep track of it. after this.

♪ ♪ higher, higher, higher off the ground ♪ neil:ing all right. just not