tv Varney Company FOX Business October 3, 2023 11:00am-12:01pm EDT
11:01 am
wedded, stuck to him. i don't think think punish joe biden because he's 80, but because they know he doesn't have much left in the gas tank. >> end game that's proposed by representative gaetz is untenable. it's not workable. there's no end game other than giving more power to the democrats. >> i understand the frustration with status quo, the debt, the border, everything here in the swamp in washington, but i just don't know that this is the plan, and every minute that we spend dealing with this, we're not spending cutting spending, securing the border. >> i don't agree with mr. gaetz at all. i don't think inside the republican conference there's much support. most people are saying this will not succeed. mccarthy has done a very, very good job. stuart: now i know this song.
11:02 am
this was the first song played on mtv back in 1991, i think it was. radio star. i love it. that was the trivia question yesterday. >> would have got that. stuart: the buggles. what a terrible name. 11:00 eastern time. tuesday, october 3. the market is selling off. down 330 on the dow, that's just over 1%. nasdaq down 225, that is 1.7%. s&p down 55, that's 1.25%. that's a lot of red ink and a lot of selling. here's why, the yield on -- 24 is one of the reason. the yield on 10 year treasury going up. the whole market doesn't like it and all of big tech is down. alphabet is down, i'm looking at 1%, 1%, 1%, 2 bernards 2%, 3% ir that's how much they're down. amazon down 3.25%. how about that.
11:03 am
now this, in the runup to the 2016 election, hillary clinton had a lot of problems within the democrat party. she wasn't loved, she had an e-mail and an fbi problem, and there was always bill and monica hovering in the background. democrats had their misgivings and knew hillary was vulnerable and they nominated her and supported her campaign. she lost. worse yet, hillary lost to trump. fast forward to today and see the same worries over joe biden. in fact, his vulnerabilities are more pronounced than hillarys. new poll, 76%, three out of four voters all across the political spectrum believe the president is too old. that is vulnerability because it won't go away. you can't reverse your age. the democrats know it. they don't want to go public with it. "the wall street journal's" headline, look at it, democrats still publicly back biden for 2024, privately their fears are growing; right. their biggest fear, biden loses
11:04 am
to trump. head-to-head in that washington post, abc poll, trump leads 52-42. ten full points. it's 2016 all over again. they are half heartedly backing a very vulnerable candidate, joe biden, what are they going to do? how do they ease him out without ushering in president harris and persuade him to leave when he's determined to stay? this political drama is unfolding right before our eyes. replacement names are being chucked around from newsom to michelle. replacement strategies will emerge and it's panic stations. because biden could lose to trump like hillary in 2016. jimmy failla is here. tense up, jimmy. >> big time. let's go! stuart: yeah, i don't think they know how to move him out and i don't know who to replace him with. >> there's an easy fix here, tell him his second term is up
11:05 am
and he'd probably just go. stuart: you are terrible. >> pack up the chopper. it's a mess, man. i know it's a mess not because of our observations but watch what's going on in the party, okay. gavin newsom has every intention of being the nominee this time around but what he's doing to appease the party is he's endorsing biden, he's take ago public posture of i'm not running, this is clearly the guy so he can look like the accidental nominee when they finally make biden step aside. again, for a guy that's not running, he's doing a lot of media right now. he's debating ron de-tan sis on handout -- ron desantis on hannity to show us how committed to not running he is. he's so committed in not running go to gavin newsom 2024.com to make a donation to help him not run. we know what's going on here, and it's just a matter of finding a graceful way for biden to exit stage right. that's what's going on. stuart: what i really ped to talk to you about today, a columnist in the la times is
11:06 am
questioning if men should pay on dates as a form of reparations for the gender wage gap. hold on a sec, we asked dave portnoy about this. roll it. >> that's the la times being dumb. of course men should pay, but i don't know about the wage gap. you can still have men be gallant and have class, and that's what it is. men should always pay on dates. i don't know. reparations for the past. how about just being a good guy. stuart: men should always pay. >> okay, a fork in the road between me and portnoy on this. he make as lot of brilliant points. i had to pay the women to show up. i have to pay the fee and for the food. yes, pay, portnoy is right, be gallant and you should pay but the whole idea of the wage gap is absurd. dylan mulvaney became a woman
11:07 am
and made $10 million in the first year. got nike money and bud light money. he was a man as an actor, no one heard of him for like 25 years of manhood. one year of womanhood singing a theme song from the jeffersons, varney. he's raking in the doe. she should buy me food. stuart: do you write this stuff before you come in or just after the top of your head? >> no, i'm just here. it's an above average conversation. i'm just hanging. you bring the best out of me. stuart: you do do standup comedy? >> i do. i'm filming my one hour sandup at paramount and i got stopped bay cop and said i'm filming my one hour special on friday night, october 13, but i'll be there. stuart: do you write your material in advance? >> for standup, you write your act in terms of you know where you're going to go, but you give yourself the freedom in the moment to do what we're doing here like riffing. something triggers your brain, you government stuart: with me, you wing it? >> i couldn't have planned
11:08 am
anything i said today. couldn't have got by the sensors. that's the point. sneak on and flames of uic the fast ball. i'm here and live and what do they do now? stuart: sneak on the set and throw the fast ball. that's a great line. failla, you, sir, are all right. >> stu, my man. thank you. stuart: i'm afraid we have to spend time on the market because it's selling off, big time. we've got down 380 on the dow, down 230 on the nasdaq, down 60 on the s&p. mike murphy with me for the hour. 10-year treasury yields hitting 16 year highs. is that what's upsetting the market? what's your explanation? >> first of all, that's a tough act to follow. he's here usually, it's a tough act. transitioning, yes, this is serious now, stuart. we're pushing up north of 4.75% on the 10 year. what are the ramifications throughout the entire economy? i think the fed is now starting to think about that, and a lot of investors are starting to think about that. that's why we're seeing the selling. how high do rates go?
11:09 am
not uncertainty and that's what's certainly cause ago selloff in the market. stuart: what's your investment advice in the situation? never say sell and get out of the markets, that's not your style. what should you do when a selloff could get serious? >> down, 5, 6% from recent highs. the only advice for the people watching at home, stuart, is to stay the course. it's anyone trying to time the market, trying to figure out when to get in, when to get out, down 6%. you now pull your money out and what, get back in at 10%-over down 15%? or when we're up 10%. so, you know, thinking you're going to figure that out, thinking you're going to figure out the fed's next move and the markets reaction to it is not something that's going to work for the people at home. they need to have an investment game plan that they stick to when the markets going up, it's real easy. when it's going down, it's a bit harder, but that's what gives you the great returns to be able to not make dumb decisions when
11:10 am
the market has a selloff. stuart: okay. stay there, please. with me for the hour. i like it. okay, next case. elon musk's x platform has been hit with a lawsuit. ashley, what's this one about? ashley: yep. x corporation being sued in federal court in florida by a legal marketing company that claims musk's new social media name as we know replaced twitter infringes its trademark incorporating the letter x. the lawsuit by x social media claims that twitter's new name is likely to cause consumer confusion let alone the story. the agency used the x social media name since 2016 and own as federal trademark that covers it. now, the case appears to be what could be the first of numerous trademark disputes with musk's company over the letter x, which i didn't know this is commonly used in tech branding. x marks the spot.
11:11 am
11:14 am
nice footwork. man, you're lucky, watching live sports never used to be this easy. now you can stream all your games like it's nothing. yes! [ cheers ] yeah! woho! running up and down that field looks tough. it's a pitch. get way more into what you're into when you stream on the xfinity 10g network.
11:15 am
11:16 am
up to 477. when we started the broadcast earlier this morning, it was 472. you moved up to 477. that's a big deal on the bond markets. goldman sax, home depot -- goldman sachs, home depot and goldman down $9, microsoft down over $7 per share. next, we have a news from ukraine. developments there, russia launched nearly 50 air strikes in southern ukraine. ukraine forces shot down many of those attacks we're told. greg pulcot joining us. the latest, sir. >> yeah, there was no let up in the fighting in ukraine. 31 russian drones and eight missiles targeted various locations in the country overnight. yes, most were shot down, even the falling debris can be
11:17 am
dangerous, there was damage and destruction on the ground. ukraine and others wrestle over the budget vote over the weekend that left out future military aid for ukraine. the white house state department and pentagon calling on congress for a new aid package and one described a potential loss of u.s. funding as devastating. europe still hanging in there. most of the eu's foreign ministers gathered monday for a historic meeting in kyiv, the group pledged more than $5 billion in aid despite another member country, slovakia backing in a recent vote a party with an end to funding and president zelensky seen this day with troops on the front line in the eastern part of the country. his counter offensive gone from spring to summer now to fall with great loss of life, expenditure of arms and frankly not a lot to show for it. stuart, still one more sign that the white house is trying to stay in the game. just in the past hour president biden held a conference call with allies and partners to "coordinate our ongoing support
11:18 am
for ukraine". the fight goes on. back to you. stuart: yes it does, greg palkot. thank you very much. the war in ukraine doesn't look like it's going well but looks like ukraine is losing. my question is what should we be doing to get them to win? >> i don't necessarily agree with the assessment that they're losing. in fact, what you see in the counter offensive is they're slowly taking back territory from the russians, but it is quite slow. you don't see the russian army actually gaining new grounds. so the problem has been the 19, 20 months we've been in the war is that biden and his team have slow waked the aid at every turn. i was on your show before the invasion, and i was critical of the biden team for saying, well, we'll just give military aid after putin invades. that's silly. we should have did what we did in the trump administration which is providing legal aid to deter putin. every decision the biden team makes is we don't want to provoke putin, so they slow walk
11:19 am
the aid and make it two times harder for the ukrainians to gain any ground. stuart: the reaction is it's a forever war and the republicans no longer support it. i mean, i'm shocked that republicans are sort of walking away from ukraine and saying, oh, we're going to hold up the aid deliveries. >> we have a really interesting opportunity here that you were just sort of covering that segment on the munitions side. the pentagon official testified saying we're running out of money allocated to us for munitions and other weaponry. what we know is the russian haves figured out over the 20 months of this war how to actually produce munitions two times faster than they were before the war. we have not done that. but we also know that if we were to get into a war with china over taiwan, we would run out of long range munitions in ten days. so how does that affect everything we're talking about now? we have a credible opportunity to actually open new factories and put americans to work in creating the munitions and pep reigns leading that we need -- weaponry that we need. new technical training for
11:20 am
americans as well and exposes a flaw we'd have in a fight against china and fix that flaw now. stuart: you'd have to increase defense spending significantly to do what you're talking about and the democrats are not going to do it. >> we'll see what happens in the supplemental. this should be about reviving the ability for americans to produce munitions a the a much faster rate. we'll have to in order to deter china. so the one thing we've learned in aiding ukraine, we have serious flaws in the murrieta in additions production -- munitions production capability here in the united states. those flaw cans be fixed and we can open new factories and put americans to work doing it. stuart: all you have to do is get the money out of congress. >> yeah, well, that and we need to function today. that'd be nice. stuart: i'll change the subject because i want to talk to you about living in dc. congressman henry had been on this program frequently and was carjacked at gunpoint in washington dc last night. listen to the congressman explain what happened. roll that tape, please. >> three guys came out of
11:21 am
nowhere and they pointed guns at me. i looked a at one with a gun, another with a gun and felt one behind me and said they wanted my car and i said, sure, you've got to keep calm in those situations and they took off. they recovered the car, they recovered everything -- stuart: morgan, you live in dc i believe? >> no, i live in nashville, tennessee. but i did live there for a long time. stuart: there goes my research. okay. this seems to be a real climate of fear. >> listen, you actually make the point for me. this is why i live in nashville, tennessee. stuart: oh, really? >> i had a baby two days after the election and since we didn't have a second trump term, i looked at my husband and it was during covid, crime was going up, i said we have to get the hell out of here. in fact, when i was like in my late third try middle ear spacer, my -- trimester and my husband went to the white house for a trump speech accepting the nomination. i was scared to death for him walking home and that's when
11:22 am
they were harassing people coming out of the thing and i thought, i'm not raising a baby in the city. i'm also from the south and wanted to be below the mason dickson line with my child anyway, but i thought there's no way i'm raising any child in this city. there's no way i'm going to be fearful to walk around with a baby carriage considering our place was in the city. so, listen, i'm fearful for thif congress but for every day people. you read stories all the time of people getting harassed by mentally ill people on the street, by people like these gangs. stuart: how do we ever bring cities back when people live in fear. how do you do that? >> unfortunately if you're an average every day person living in dc and get held up by gunpoint, that barely makes the news but if you're in congress, that does make the news. maybe the democrats will see we're not just hyping up crime and concerned for the rapid deterruation for it.
11:23 am
stuart: morgan, get home safely to your child. thank you. >> thank you. stuart: this is a serious selloff, can i put it like that. it's not catastrophic or a crash but it's a selloff. the dow is down 360, nasdaq down 218, s&p down 56. that's in percentage terms. talking about percentage terms, you've got selling going on. here's why: the yield on 10-year treasury, we say this all the time, 476 right now. that's a 16-year high. again, goldman sachs, home depot, microsoft are the biggest drags on the dow. together they shave 160 points off the dow industrial average. what do you have to say? >> i have to say that this is a selloff, we're going back to levels in the marketses we haven't seen since early june. these three companies, stuart, look at microsoft at 313 and change. a week ago it was 311 and change. tech stocks rallied and now selling off again. i think for people getting at home. my concern is that someone see this is and goes oh my god, the
11:24 am
bottom's falling out. i'm going to sell. we may go down tomorrow, we may go down another 5% or more, for that person that sells today, finding the next entry point -- they may say if they say, hey, i'll take the 5% yield, i can get in short term bonds, more power to them. they shouldn't be in the market but if you're a listening term investor, you should be looking at this as a opportunity and you should not be panicking. stuart: that's all very well for the long term investor, but i cannot be a long term investor at my age. >> i'm not having that. you are a long term investor for sure. as i've told you in the past, sometimes the best trade you make is the trade you don't make; right? stuart: what do you mean by that? >> well, you come into the market today and see that things are weak. you say, well, i better sell. the fed has been raising rates now for a year. we've gone from 0.25 to 5.5% roughly. the time to sell acting on that news was 12 months ago. if you didn't, after the selloff
11:25 am
currently and down 6% from recent highs, today's not the time to sell. you should have a course of action that you're going to take in 5% pullbacks, 10% pullbacks and stick to that plan now. most important. stuart: yoke, with me for the hour and go through this a bit more later. stay with us, folks. we'll have more on the markets and down 384 now on the dow industrials. we're all over this thing. more varney after this.
11:29 am
stuart: with a selloff, mike murphy, what stocks would you buy in a heavily sold market in >> the price action today, stuart n dollar general. low cost retailer. this stock was $260 and sold all the way off down to $100, $105 where it is today. looks like it's oversold, down almost 60% year-to-date ask at some point buyers will come in and see some value and in the event that we go into a recession or the economy slows down markedly, when people are spending money, it'll be at discount retailers. i think it's something interesting to look at today. stuart: in a heavily down market, it's up nearly 2%. >> i wanted to bring out positives and i felt like since jimmy left, things got a little
11:30 am
negative and i wanted to bring out positives here. stuart: keep thinking positive. nike. >> should be green -- yes, there we. nike can look backwards and announced earnings not too long ago and they weren't good and they were extremely good and stock had a nice reaction on that news 6789 taxpayers starting to stilloff and that basketball game -- selloff and that basketball game for my son and this was all nike. they continue to perform and have almost a monopoly on kids shoes in this country, and they're huge margin business. china maybe a bit weaker for a quarter, two quarters, but nike is a name to buy and hold for a long term. stuart: up today in a down mark. thank you, mike. ftx founder sam bankman-fried's trial is underway in what federal prosecutors call one of the biggest financial frauds in history. kelly o'grady outside of the course house. what's happened so far, kelly?
11:31 am
reporter: well, stuart, our producer on the inside ran out to give me the latest. if you were wondering, sbf has a nice trim haircut and the defense and prosecution undergone pretrial proceedings and the judge confirmed the prosecution has not offered a plea deal and i lay that out because they think is case is airtight and have four cooperating witnesses that are sbf's former friends and colleagues. i'll note that the judge addressed sbf this morning directly and can choose to take the stand even if the defense council rests and he was willing to share his side of the story throughout the process with the media and we're keeping aen eye on if he chooses to take the stand. potential jurors are undergoing questions and will last the day and the prosecution seeking older college educated jurors and the defense is looking for younger open minded demographic and the first question that jurors were asked today is is there anything that would make them not be able to give a fair
11:32 am
judgment in this case? 11 stood up and were immediately dismissed and of course social media played a huge role in the down fall of ftx and public record may influence potential jurors going forward. looking ahead, a big piece that we're expecting the trial to cover is alleged political geopolitical nations made with customer funds and donated $11 million to dems and further donations and another to funnel over $24 million to republicans and a tease of what's coming ahead, stuart. we'll bring you anymore when we have it. back to you. stuart: got t thank you, kelly. i want to bring in cornell law professor william jacobson that's an expert among other subjects. professor, welcome back. good to see you. if you can explain in laymen's terms so we can understand it, exactly is sam bankman-fried accused of doing? >> it's great to be back. it's really simple. you've heard the phrase there's
11:33 am
nothing new under the sun. that's true in securities fraud as well. this is an old fashioned if the allegations are true, this is an old fashioned ponzi scheme. he took money from investors for crypto currency now and could be for something else and spent it. spent it on personal items, spent it on another company that he had. spent it on political donations and when the bill came due and the investors wanted to withdraw their money, it wasn't there. it's just allegedly an old fashioned ponzi scheme. stuart: from the outside when you don't know much about securities fraud, you tend to think it must be some complex maneuvering in the crypto world, which we don't understand anyway. you're saying it's not. it's just plain and simple fraud. you took money that didn't belong to you and spent it. as simple as that? >> that's what it really gets down to. there's cryptocurrency involved in the cryptocurrency market and the impact and how liquid it was
11:34 am
and when you get down to it, he's charged with fraud and wire fraud and not with anything super sophisticate that had bernie madoff or any other ponzi scheme operator hasn't been charged with in the past. stuart: you wear many hats at cornell including very much a free speech advocate. i understand you've conducted a report, a survey or report of critical race theory in schools. can you summarize your findings? >> sure. we have a website criticalrace.org and we have a catalog of over 700 colleges and universities including all 155 medical schools. no surprise, what you find there is that critical race theory in its various forms, sometimes called diversity, equity, and inclusion, sometimes antiracism, is pervasive throughout higher education and including it's moved down into k12 and that's what we found. we have researchers that go over school websites, we document what they're doing, and it's
11:35 am
pervasive throughout cassioppi deem ma and particularly bad in medical schools. stuart: i would define crt training and education as anti-meritocracy. it's the opposite of meritocracy. would you describe it that way? >> i think that's part of it. what it is is an obsession with race, with skin color, and sues skin color as being the detedeterminate factor of a student's life in this country. we oppose that and think that's not right. that's what it is. everything revolves around race. to the detriment of meritocracy and detriment of other personal individual factors. we want people to be treated as individuals, not merely as group members. that's not what's happening in academia. stuart: professor william jacobson, always a pleasure to have you on the show. thank you very much, sir. come back soon. >> thank you. stuart: new poll shows only a few believe conservatives can speak freely on college campuses. all right, ashley, i guess everything is just fine for the
11:36 am
liberals; right? ashley: well, yeah, they're doing all the shouting and canceling. americans view college campuses as far friendlier to liberals and conservatives when it cops to free speech and new poll shows overall 47% of adults say liberal haves a lot of freedom to express their view on college campuses while just 20% said the same of conservatives. not a big surprise there but interestingly about 4 in 10 democrats say liberals can speak their minds freely on campus. i thought it would be more. while about 3 in 10 democrats say conservatives can do so. i don't think so. republicans see a very clear double standard though on college campuses, just 9% say conservatives can speak their minds, i want to speak to the 9% while 58% said liberals have that same freedom. one last finding, about three in five americans are 62% say a major purpose of higher education is to support the free exchange and debate of different
11:37 am
ideas and values. yes, while more people aren't saying that because that's what college is all about. stuart: exactly. exactly. thanks, ash, back to you later. a county in up state new york blocked mayor adams plan to move homeless people up north. adams wanted to free up space for the migrants living in the city. new york city and we'll have details on this blocking coming up. ♪ this is spring semester at over 13,000 us school districts, which have become top targets for ransomware attacks.
11:38 am
but there's never been a reported ransomware attack on a chromebook. which is why thousands of schools like the fairfield-suisun unified school district switched to google tools for education. so they can focus on teaching and 22,000 students can focus on learning, knowing that their data is secure. ( ♪ )
11:39 am
if you have this... and you get this... you could end up with this... unexpected out-of-pocket costs. which for those on medicare, or soon to be, is a good reason to take charge of your health care. so consider this. an aarp medicare supplement insurance plan from unitedhealthcare. why? because medicare alone doesn't pay for everything. and what it doesn't pay for, like deductibles and copays, could really add up. even thousands of dollars a year.
11:40 am
medicare supplement plans help by paying some of what medicare doesn't... and making your out-of-pocket costs a lot more predictable. call unitedhealthcare today and ask for your free decision guide. learn more about plan options and rates to fit your needs. now if you like this... greater freedom... you'll love that medicare supplement plans have no networks and no referrals needed... see any doctor. any specialist. anywhere in the u.s. as long as they accept medicare patients. these types of plans also give you more flexibility when traveling in the u.s. your plan goes with you... anywhere you go in the country. even better, these are the only plans of their kind endorsed by aarp. call unitedhealthcare today for your free decision guide. so if you have this and want less out-of-pocket costs...
11:41 am
and more peace of mind... consider adding this. an aarp medicare supplement plan. take charge of your health care today. just use this...or this to call unitedhealthcare about an aarp medicare supplement plan. stuart: in percentage terms, way down. there are some positives in this sea of red. bouhleling is one of them --
11:42 am
bowing is one of them. united airlines expected to announce an order for 50 bowing 787 dream liners. bowing is up just 87-cents. amazon and microsoft both falling sharply and roiters reports that regulators will push for antitrust invest into both companies. look at them go down. murphy's with me. why is the government going after the crowned jewels of american business? >> because they're getting too powerful. they want to be able to knock them down. it's something that speaks against now -- you'd say a lot of tech companies were, i think it's improving been in bed with the government in the election, but now as these companies get too big, too powerful, we talk about artificial intelligence, company like microsoft is very involved there. this administration has proven they're antibusiness. they're anti-the american dream. they don't want the companies to get too big and powerful. stuart: don't throw the baby out with the bath water. >> and get sick the government
11:43 am
agency on them to cause damage, to cause harm. stuart: coming at them from all sides. all right, mike. the white house is blasting republicans over the border crisis. ashley, come on in please. what are they saying this time? ashley: well, it's interesting, the administration continuing to push the narrative that, hey, president biden is doing everything he can to handle the influx of migrants at the southern border. hmm. white house press secretary karine jean-pierre accusing the republicans of using the border as a political stunt. >> the president without the help, without the help of republicans is doing everything that he can to deal with the border. that's what he's been able to do while republicans try to push forth a cr to limit -- to take away the federal agents that we see at the border. that's what he's trying to co. they're trying to politicize it and make it worse, make it worse. that's what republicans are trying to do and turn it into a
11:44 am
political stunt. ashley: as you can expect, republicans call that assertion rubbish and accusing the president doing irreparable pardon me to the border by allowing border invasion happening for some time. stu stuart: thank you. anita county in up state new york blocked a plan by new york city's mayor adams to move homeless people up to that county. adams was looking to ease the ongoing migrant crisis in new york city. andy is the county executive and he's joining me now. anthony, how are you blocking these people? i mean, do you have police at the county line? >> no stuart, we put in place another executive order and similar to the one we put in initially blocking inia grants from come -- any migrants from coming to shelters and hotels. new york is a home rule state and under the constitution, i have the authority as its executive to put in an odder
11:45 am
that would ban any such shift of homeless people in this case to housing and in our county that would displace other -- our own residents based on the market that they want to spend. stuart: take me through and how it works. migrants arrive by car or van or bus, they're arriving in your county line. you don't want them. you don't want them to be there or work or put them in hotels. how do you stop them? do you physically stop them? >> we would if that were to occur, we'd physically stop them, turn the bus around and send it back in the other direction. you know, in this case, this is about -- this is the bait and switch with the adams administration by trying to move homeless people up to our counties and making room for more migrants in new york city by alleviating their problem with their current homeless situation and shelters and other places by moving them and saying, here's a voucher of which you can go and have rent
11:46 am
paid, but the services and everything else would fall on my county and that's why i'm saying no. that's not how it works when it cops to these type of -- come this is these type of situations, and all you're trying to do is continuing to push your problem of migrants onto my county and others. stuart: one quick question though, is there a labor shortage? are you short worker s? your county? >> we have the lowest unemployment rate that we've had in the last ten years, stuart, here in oneida county. it's ridiculous saying are there jobs available? of course. there's always jobs available but that's not the answer to this problem. stuart: you could use a few migrants though, couldn't you? >> well, i don't know if we could use a few. we have our own challenges that we're dealing with up here and that's the difference between up state and down state. stuart: anthony, thank you for coming on the show.
11:47 am
i think you're doing something very interesting which i think other counties may well foal low. thanks for being with us this mortgagee thank you, stuart. stuart: the mayor of new york, eric adams, traveling to latin america to speak directly with the migrants. ashley, when and where is he going? ashley: mayor adams heading to central and south america this week to try and convince migrants not to come to the big apple. hate to be a pessimist but how effective will that be? anyway. the four day journey will include stops in ecuador, mexico and columbia with the goal of using local news covid rang as a media blitz to talk to migrants out of coming to new york city. the adams administration is reportedly bracing for potentially record breaking levels of asylum seekers in the coming week withs as many as 4200 myograns seen in a single week. the latest estimates put the cost of the migrant crisis in new york city at a whopping
11:48 am
$12 billion. stu. stuart: extraordinary. thanks very much, ashley. it's that time when we show you the dow 30. i'm pretty sure we're going to see a sea of red and bingo, that's what we've got. i've got one, two, three, four, five winners and i've got the rest as absolute losers. the dow is down 421 points. people are being pushed to tip as much as 25, 30% at stores, restaurants and airports. two-thirds of the folks say they're fed up with that. don't like it. has tipping reached a breaking point? jonathan cerri has an interesting story for us after this. ♪
11:49 am
i'm going to sell my life insurance cuz i don't need it anymore. my kids are grown, my wife is great, let's settle up the score. it's time to travel to paree, spend retirement happy. call 877-sell-easy. 877-sell-easy. 877-sell-easy, and sell your policy. you can sell all or part, live your life and play it smart. 877-sell-easy, and sell your policy. if you've had a change in health, or you're over 65, and paying for $100,000 or more in a
11:50 am
11:51 am
the power goes out and we still have wifi to do our homework. and that's a good thing? great in my book! who are you? no power? no problem. introducing storm-ready wifi. now you can stay reliably connected through power outages with unlimited cellular data and up to 4 hours of battery back-up to keep you online. only from xfinity. home of the xfinity 10g network. municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free.
11:52 am
with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income... are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217. stuart: donald trump emerged from the courthouse on second day of trial and said it's a fraud and a scam. very brief remarks from trump. earlier on the show today, we talked to dave portnoy. we asked him what kind of a tipper he is. all right. here's his response. gee i tip like a maniac, stuart. but again it's primarily because
11:53 am
i'm filthy rich at this point and don't want people seeing that $42 million house and dave tipped 5%. i'll be on junior show for very different reasons. i'm generally almost 50-100% tipper depending on the math. if i go to a restaurant, $150 and i'll tip $100. stuart: there you have it. question for you, audience, do you always tip at least 20%? send us thoughts for friday feedback. seem people are being pushed into tipping 25, 30% at stores, restaurants and airports. people are fed up with it. jonathan cerri with us. has tipping reached a breaking point, jonathan? >> for some people, stuart, the breaking point is the airport convenient store where you pick your own food off the shelves, you fill your own bag, you check yourself out and then the self-service kiosk asks you if you want to leave a tip.
11:54 am
you can thank or blame the pandemic because it really has changed america's attitudes perhaps forever on tipping. restaurants became essential services and tipping expanded beyond wait staff to include workers that came to our homes to deliver packages or repair our appliances. >> it became a combat thing and match frequent for anybody with public contact. after the pandemic, that piece of this puzzle has lingered. reporter: you've also probably noticed tipflation and many touch screens suggest tips as high as 25-30% and during the pandemic, some restaurants added a service charge to protect and retain employee but an owner and server from separate restaurants tell me in the u.s., tip included gets mixed reviews. >> after pandemic we heard loud
11:55 am
and clear from customers they liked the freedom of choice and didn't like to be told or mandate how much it should be. >> without the idea of tipping, yeah, sure, maybe i'm guaranteed more money but maybe guaranteed less customers. you never know. reporter: stu, i'm conducting a survey and unscientific survey on social media and so far with the exception of maybe one or two friends, everyone is saying they tip at least 20% and many of them go above if they believe the service they've received has gone above and beyond. stuart. stuart: that's america for you. wonderful thing. jonathan, thank you very much indeed. i'm serious. tuesday trivia question, which of the following u.s. major cities is not near a body of water? philadelphia, atlanta, cleveland, milwaukee? the answer when we come back. i know this one, i got this one.
11:56 am
♪ you got this. let's go. .. i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. i go through a lot of pants. before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com.
11:57 am
11:59 am
12:00 pm
with the right answer. ashley: unless i'm missing something, atlanta, number 2. stuart: interesting guess. >> number 2, atlanta. stuart: both of you know that i got this right by saying atlanta before you guys did but what constitutes a body of water. a lake? se, and ocean, a big river? what constitutes -- it is a big country. >> i would protest but i got it right. we when cleveland is near which? is that a river? philadelphia, the seashore, atlanta is near nothing. ashley: lake erie. stuart: you have lived up there. ashley: i have lived everywhere. of the one thanks for being on the show. "varney and company" is just about done. and two seconds it is coast-to-coast now
87 Views
IN COLLECTIONS
FOX Business Television Archive Television Archive News Search ServiceUploaded by TV Archive on