retirement, you know, people are starting to take out that cash, and and they're spending it. but how long can that continue? maria: yeah. >> if you actually see the stock market go down, then you're going to have real trouble because the people won't be able to the spend out of their wealth. maria: that would be a problem. great conversation, everybody. really important and really smart. we appreciate everybody's time, tyler, julia, steve, charles, cheryl, todd. we appreciate all of the analysis. we are 30 minutes away from the opening bell. market is near the highs, up 154 on the dow industrials. the nasdaq also higher, in the double digits, 45 points higher there. don't forget to put your clocks back, this weekend is daylight savings time, so don't forget to turn your clock back one hour before with you go to bed on saturday night. fall back, spring forward. have a great weekend, everybody. "varney & company" picks it up. stu, take it away. stuart: thank you, maria. i had forgotten that. it is fall back sunday morning.

[laughter] good morning, maria. good morning, everyone. yeah, it is jobs friday, and here is the story. the economy added 150,000 jobs in october. the unemployment rate up slightly to 3.9%. this suggests, in my opinion -- we'll get more opinion later -- i think this is a weakening of the labor market. and here's the market's response. whoa, investors like it. dow industrials probably up over 150 points at the opening bell. gain for the s&p, also a nice gain for the nasdaq, about 50 points higher. here's the big story of the morning, interest rates staying down and actually going lower. will you look at that, the yield on the 10-year treasury is now all the way down 4.53%. what was it, a couple weeks ago you were at 5? the 2-year treasury well below 5%. in fact, it's down to 4.87. gas, still edging lower as well. regular now averages $3.43, down just 1 cent overnight. diesel at $4.42, also down 1 cent.

bitcoin holding up pretty well, i'd say, $34,400 per coin. that's the markets. secretary secretary of state membershippen has arrived in israel trying to negotiate a temporary humanitarian pause in the gaza fight, but netanyahu says the idf is at the height of the battle and has penetrated gaza industry. -- city. the ceasefire or pause has split the democrats. demonstrators blocked traffic in durham, north carolina, and in philadelphia. tomorrow there will be a maas demonstration -- mass demonstration washington d.c. biden challenger, dean phillips, had his first town hall rally disrupted by people demanding a ceasefire. the house voted in favor of that $14 billion aid package for israel, but 22 democrats voted against it. all right, on the show today, sam bankman-fried has been found guilty on all charges. the jury got the case at 3 p.m., they revealed their verdict at 7:45. his parents broke down, he

stared straight ahead. drone pat footage shows four people throwing explosives at the border from the mexican side. earlier agents discovered a backpack containing ieds, improvised ec employeesive devices, the type of weapon used to kill americans in afghanistan and iraq. and we're going to follow up on apple's financial are results. the stock is down. apple's outlook for the holidays, apparently, disappointing. and, oh, yes, we'll show you again the mentalist, oz pearlman, figuring out my contact list without ever touching my iphone. we cover it all. november 3rd, 2023. "varney & company" is about to begin. ♪ ♪ stuart: straight to the jobs report. 150,000 jobs created in october, the unemployment rate up 3.9%. lauren: hiring slowdown in the month of october. if you look at september and

august today, revised down by 101,000. wage inflation still the exists, but it is cooling. still up 4.1% on the year, however. so where are the jobs? health care, government, construction, each adding more than 58,000 jobs for health care, government, teachers and support staff for schools up by 51,000. the more important number, if you ask me, is manufacturing, a decline of 35,000. that was because the united autoworkers were on strike. that strike is over. also want to point out retail created 700 jobs. that's it. the state of the consumer ahead of the holiday season. bottom line, not a great report, but it's great for the bond market yields, down even more. stuart forgive me for saying it, but i think that was a rather boring jobs report. let's see if brian brenberg agrees with me. >> he's wrong. this is not a boring jobs report. stuart: excuse me. [laughter] lauren: can't even do it with a straight face. >> so i think it's one-fiftieth

the headline level, but there's two surveys here, right? the establishment businesses, household. the business one said 150 gained. the household said a 348,000 decline in jobs. that's a huge gap. so what i'm saying is watch the months ahead, because those have to converge, those revisions that we've been talking about, that's where they're coming from. this is why bond yields have tanked, stuart, because all of a sudden everyone's seeing weakness here. stuart: in the household survey, how many jobs were lost? >> 348,000. you look at the employment decline month over month, 348. this is in the -- this is actually a watershed report if that holds. stuart: and that's why interest rates are down and the market is up. >> exactly. stuart: i missed that, brian. i take hi hat off to you. well done, son. you're with me for the hour. next big case, former ftx chair -- ceo with,ish say, sam

bankman-fried guilty on all seven counts of fraud. lauren: the jury took heads than five hours to deliberate, that's it. the evidence was overwhelming. you had his top three lieutenants testifying that he directed them to raid customer deposits for money and for influence. the trial lasted a month. we saw sam bankman-fried take the stand and testify the in his own defense, that might have been a mistake. it hurt his credibility with the jurors when he said he couldn't remember details more than 140 times during the cross-examination. that number comes from "the new york times"es. sbf faces over 100 years behind bars for looting $8 billion from customer funds to fund risky investments, to fund his lifestyle. he is sentenced many march. he is likely to appeal, but i just want to point out that in march he faceses another trial dealing with allegedly illegal political donations and paying a $40 million bribe to chinese officials. so this story continues.

and what does it do to investors' confidence many in cryptocurrency now that he got his justice? stuart: no impact. lauren agreed. stuart: bitcoin's at nearly $35,000 a coin. lauren: some of those customers who lost money are trying to get their money back by still investing in cryptocurrency. [laughter] stuart: good luck. thanks, lauren. let's check out the markets. i think you'll like what you see on this friday morning. plenty of green, left-hand side of screen. there you go. up about 150 on the dow, nearly 40 on the nasdaq. kenny polcari with us this morning. first off, kenny, i want to talk about apple. disappointment over the company's outlook for the million days. i think that's why the stock's down. will you buy more on this dip? >> so i'll buy more. i want to see how it acts once it opens, but i'd buy more down the trend line. 171-ish is probably where i'll buy some more. i bought it a couple of weeks ago, it broke down again,

rallied up. i want to see what it does after this report. i think once again it's an overrah reaction. if they sell apple off, i think it's a huge opportunity. i think the cautiousness that we saw yesterday in the guidance going forward is just timmy cook being cautious. i'm not really buying it. it's apple, right? it's apple. where's it going? they made $90 billion in three months. multiply that by four and just think of the numbers, it's crazy. stuart: wait a minute, you'll only buy it if it drops another buck or two to 171? what's the difference? >> because i'm playing around the trend line just because i already own it. i'm just being a little bit coy with it. i bought it a couple of weeks ago when it traded down blow, we broke through it, so now i'm just adding to it. i just want to see how how it trades this morning. stuart: look, i was wrong about this jobs report. i thought it was boring, but professor brenberg pointed out it was anything but woring. -- boring. there's a loss of 348,000 jobs

on the household survey. interest rates straight down. that's got to be the very bullish, hasn't it, kenny? >> it is the bullish. professor brenberg is right, that's why he's a professor. so here's the deal, yes it's been bullish. i think though i'm still cautious about that because janet yellen, who's going to bring $1.6 trillion worth of treasuries to the market over the next five months, hen she's got to go into the second quarter and third quarter of 2024, what is she going to bring then? and at some point, we've got to the figure out who's going to buy all this stuff considering china, japan, the fed are in the cellar. those are three of the biggest buyers in the bond market. who's left to buy it when they bring all this supply to the market? while today i'm very happy, i'm long stocks, it's going up, great, wonderful, but i'm cautious as we see what the treasury has to do. because at some point the buyers are going to say, look, this is just too much supply for me the pay x, now i'm going to the pay y. and, you know, the clearing

price is going to get lower. stuart: okay, kenny. you don't sound very cautious, but that's the way you play the market. [laughter] kenny polcari, everyone. see you later. >> you too. stuart: prime minister netanyahu says israel is at the height of the battle, his words. israeli forces pushed through the outskirts of gaza, penetrated the city. they're almost surrounding it. what else do we have? lauren: so hezbollah's leader is speaking now for the first time since hamas attacked israel. that's a big deal. it's in public. morally you see a video release because he's in hiding, doesn't want to the give his location. does he give the go for hezbollah to the increase its attacks on israel from the northern border with lebanon? that widens this war. the "wall street journal" is reporting that russia's wagner group plans to the send air defenses to hezbollah. that's the bigger threat. meanwhile, gaza city, the largest city in gaza, is

encircled. israel took out a top hamas commander overnight, he helped fight the israelis in the ground-to-ground. stuart: no let-up in the war. many in gaza, no the let-up in that war. lauren: it's just getting more intense. stuart: brian, what have you got on this? >> well, i mean, just -- so you said, a hezbollah leader is actually speaking in public, live. he's not doing it on a film, right? what does that tell you? he is incredibly emboldened right now. iran's emboldened, hezbollah, a hamas are emboldened. heavy got the west buying into with their narrative. they're on offense. stuart: will he do it? will he say, hezbollah, go for it. >> what do they have to lose in this moment right now? lauren: blinken is in israel, he's also meeting with those in jordan. they want the hostages out, the aid in. they're treading very carefully. stuart: okay. i've got to move on. brian, thanks very much, indeed. coming up, a jewish student at hunter college confronted a

woman who was tearing down israeli hostage posters. she's here to tell us exactly what happened. the house approved a bill to provide $14.3 billion in emergency aid to israel, but have they abandoned ukraine? i'll can ask south carolina -- i'll ask south carolina congressman russell fry. he's next. ♪ ♪ as an independent financial advisor, my promise to you is simple. as a fiduciary, i promise to put your interests first, always. i promise that our relationship will go well beyond just investment decisions. it's the intersection of your money and your life where we can make the biggest difference. [announcer] charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com this is spring semester

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sure, honey! this generation is so dramatic! move with the xfinity 10g network. i suffer with psoriatic arthritis and psoriasis. i was on a journey for a really long time to find some relief. cosentyx works for me. cosentyx helps real people get real relief from the symptoms of psoriatic arthritis or psoriasis. serious allergic reactions, severe skin reactions that look like eczema, and an increased risk of infections, some fatal, have occurred. tell your doctor if you have an infection or symptoms, had a vaccine or plan to or if ibd symptoms develop or worsen. i move so much better because of cosentyx. ask your rheumatologist about cosentyx. stuart: speaker mike johnson was able to push through that $14 billion aid package for israel, went9 through the house yesterday. aishah hasnie on capitol hill. the bill has no hope of passing the senate, dud it -- does it?

[laughter] >> reporter: well, there's that, stuart. good morning to you. yes, senate leader chuck schumer has drawn the line in the sand saying that this bill is practically dead on arrival. he's not going to take up this version of the bill. what is interesting is that he might actually just tear it apart and use the vehicle and just add in everything that he wants to add which is basically the president's global aid package, ukraine, taiwan, humanitarian aid to gaza and then ship it back to the house. we'll see. the house is hoping though, republicans are hoping this is going to the add some pressure if over to the senate. the democrats, the 12 democrats they got to join in with them last night are saying that's not going to happen. >> boy, we're really setting the bar low when they're, like, 12 democrats barely voted with us at the last moment, you know? >> their thinking is it puts pressure on the senate -- >> puts no pressure on the senate. senator schumer came out and said he's not bringing it up. >> reporter: okay. so democrats have had a big

problem with this, basically because of the unprecedented pay-for, the $14 billion that's coming from the irs funding and also the fact that it leaves out the president's requests for other allies like ukraine and taiwan. but speaker johnson is promising that ukraine will see its day. >> ukraine will come in short order, it will come next, and you've heard me say that we want to pair border security with ukraine because i think we could get bipartisan agreement on both of those matters. >> reporter: and johnson is really jamming go to p leader mitch mcconnell here with this move. mcconnell would prefer ukraine and israel aid tied together, but support for that, stuart, is beginning -- dwindling. so we're waiting to see what the senate does next. stuart: aishah, thank you very much. congressman russell fry joins me. the aid is basically dead on arrival in the senate, president biden would veto it. what's the politics of all of this? >> well, i think that what we

have to do is get some institutional awareness going on. the american people are kind of tire of busting out the credit card everything time that something happens. so speaker johnson and house republicans took a prudent step. if we're going to do aid across the globe, in this case one of our strongest allies in israel, there needs to be cuts elsewhere to rescind system of that. we can't just keep borrowing money and sending it around the globe. it's a reckless policy. so i think getting back to the basics is really important, and i'm glad the house republicans were able to do that. i don't necessarily know that it's dead, but i think the issue is that house republicans and the american people expect single-subject issue bills, and each of these deserve their own meritorious debate. don't link them together in one giant package and jam the rest of us. we need to have individual debates on these issues. stuart: but it looks like you've abandonedded ukraine. speaker johnson says he'll bring it up shortly, but there's no guarantee it passes the house. >> well, look, again, i don't

think that we've abandoned ukraine, i think each of these deserve their own. the most pressing issue right now is israel. we have to defend and stand with our strongest ally mt. the middle east -- in the mitt middle east. they're under immense pressure. speaker johnson, we take him at his word that the next debate is ukraine. i've personally got some concerns about a ukraine. there was a "time" magazine article that talked about really the grift that is going on in ukraine right now. that is of deep concern, and we have not received any clear guidance or objectives from this administration. and i think the that's a big problem for a lot of house republicans. stuart: now, congressman, president biden joked that, quote, he bounced a few checks when he was younger. house oversight committee chair james comer revealed biden laundered $40,000 from his brother. it had come from hunter's china business with ties. you're on the oversight committee. he's making jokes about your investigation. what do you say to that? >> i just, you know, nothing surprises me with this president, which is unfortunate.

i mean, this is a very serious matter. the house, because of the actions of this family, has launched an impeachment inquiry into the actions of the biden family and all these transactions. and for the longest time, they've continued to move the goalpost os on what we would find out. and lo and behold, the most recent one is you're not going to find direct payments to joe biden. well, we have. and if you look at the timeline of this, it's very suspicious. $400,000 was wired to hunter biden, 10% of that, $40,000, ends up in the personal account of joe biden. this is incredibly problematic for this and when he should be answering truthfully to these inquiries for the hearn people, he jokes. -- for the american people, he jokes. stuart: does the public care about this? it's an age-old scandal, if you want to put it like that. will it count in 2024? >> i think it does. not a week goes by that a gets better for this president on the facts of the case. i think the american people expect us in congress to make

sure that we hold these officials accountable, and there's a deep concern amongst my constituents about what policy of the united states may have been impacted because of the personal financial benefit of this family. i think this is a deep concern to americans everywhere. stuart: indeed. congressman russell fry, thanks for being with us this morning. always appreciate it. >> thanks, stuart. stuart: hunter biden wrote an op-ed e in "usa today" saying what? lauren: his addiction has been politically weaponized for a disinformation campaign against his dad, the president. but he goes further, against all addicts. the chutzpah. stuart: chutzpah. lauren: is that how you say it? i've been saying huts a pa for -- huts9 pa for ages. he says it rents a -- represents a real threat for those desperate to get sober but are afraid of that may await them if they do.

that is such a stretch. but it's a convenient one. because as you just said in your last segment, you have evidence against his dad coming in from james comer showing two checks biden family members made out to joe biden specifically. one was in december of 2017 for $40,000. that 40k would be equivalent of the 10% cut for the big guy, joe biden, from a chinese energy company that hunter was doing business with. stuart: what do you think, brian? are they going to the forget about that? >> this guy is unbelievable. he has milked the biden name and proximity to power for years. he has made millions of dollars off of it and then saying, you know what? i'd like to know more about that, how do you do it, where do you get your money, and he all of a sudden says, no, it's because i'm an addict? this is about you tapping into federal power, your dad's position, bilking people out of money and then trying to pretend people are concerned -- it's not

about his addiction. stuart: chutzpah, by the way, is defined as a person who numbereds his mother and father and pleads for leniency on the grounds that he's an orphan. that's chutzpah. thank you, brian. [laughter] check futures, please. i've got some green right there. hope you liked that joke. okay? we'll be back. lauren: i'll never mispronounce it again. [laughter] ♪ ♪ laid back, swerving like i'm george jones. ♪ smoke rolling out the window, an ice cold beer sitting in the console. ♪ memory lane up in the headlights -- ♪ it's got me reminiscing on them -- (sfx: stone wheel crafting) ♪

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no obligation hearing evaluation today. stuart: i'll call this a rally. basically, we've got lower interest rates, and we've got the dow up 200 and the nasdaq up 53. the rally continues, by the looks of it at least. mark mahaney back with us on a friday morning. first of all, airbnb, hay just warned of a rough quarter. your price target was $168. what is it now? >> we're at 136. we just had three pretty large data points here. we had booking and expedia, they're almost 300 billion or a little more than that in

bookings. this is double digit, 15%, of total leisure ralph travel. maybe it's the 20% now that occurs through these companies. yeah, there's a little bit of roughness in the quarter with. booking talked about the middle east as impacting october travel. all three companies did, but for the, for booking it's maybe 4% of their, booking.com, it's about 4% of their total bookings. the real key message that came out of all three companies is that demand for leisure travel remains resilient, if you leave out these kind of one-time joe yo -- gee yes political shock -- geopolitical shock. stuart: wait a minute, one of your picks is doordash, what's that got to do with please leisure travel? >> this is also interesting. i look at all four companies, these are sizable reads z into the u.s. consumer, and they talk about this macro trend towards convenience. you know, i was one of those, and i think there are many ohs, who thought food order delivery

would soften as we went through tougher economic times. it hasn't happened. it seems like there's a generational, there's a cultural shift towards delivery. and so they haven't seen any slowdown in consumer demand. i guess that's the point from all four of these companies. the consumer is holding up very well, thank you. stuart: so you've got airbnb currently at 117, you think it's going to 134. you got doordash, currently at 87, and youty think it's going to 120. and booking's currently 2, 750, something like that, and you think it's going to 3,900. that's a huge gain. >> well, it is. but on a percentage basis, it's not as big. you don't split shares, that's what happens with these stocks. booking is one of these garp stocks, really well tested, well proven management team. stuart: okay. you encourage all investors every time you appear on a friday morning. that takes chutzpah. mark mahaney, see you soon. [laughter]

>> you got it right. stuart: press that button -- lauren: i'll never say it wrong again. stuart: i thought it was a good joke. i'm sorry, i just did. the dow has opened, you're at 34,000, hit that level. about 26 of the dow 30 are in the green. the dow is up a half percentage point, 34,6, up is 67, pretty -- 167. i don't know how we close out on a friday afternoon, no idea. the s&p 500 is up half a percentage point, that's 222 points. the nasdaq -- 22 points. the nasdaq is up 51 points. big tech, are they all up? yes. except for apple. disappointing report yesterday. lauren: yeah. stuart: down this morning at 173. everything else, all the other big techs are up. what's with apple? lauren: sales fell for four straight quarters, and their outlook was kind of end the bid. overall revenue is $89.5 billion in this last quarter. almost half of that came from their moneymaker which is the iphone. it included one week of the new

iphone 15 sales. so this quarter you have all of 15 sales, and apple says revenue will be flat from a year ago. investors, disappointed by that. china, second biggest market, major weakness. sales there missedded by $2 billion. they're losing market share to the huawei and other local competitors. the final point, this is a oppose, a record for their services revenue, over $22 billion. stuart: okay. that's a lot. block or ors now heir the -- block, they're the online payment people. they reported after the bell yesterday. they must have come in with a good report. lauren: a beat and a raise. they're optimistic. to talk about what mark mahaney was discussing, the can customer keeps spending money. cash app is owned by block. it's a way to easily pay someone person to person, peer to peer. revenue there up 27% in the past lee months. and then this, jack dorsey's the ceo. he's talking about job cuts. the quote is growth of the

company far outpaced growth of the business. so they're bigger than they need to be. stuart: and they can take corrective actions. and they're up. starbucks. now, i know they're adding some new stores. a lot of new stores. lauren: a lot. the goal is to have 55,000 worldwide by 2030. translation, 17,000 new stores will be opening. but it's not going to be your typical starbucks. some are going to be drive-through only, delivery only because the new ceo, this is the guy eight months on the job after howard schultz left, he says what the pandemic did was train people you're going to buy coffee on the go. you're not going to go sit down at a café and drink it. so he's embracing that. so he has a plan, he calls it the triple shot. and it's improving the barista's ability to handle all sorts of orders. because sometimes i go into a starbucks, and i see no line. and then i'm waiting ten minutes, but there's nobody on line.

well, yeah, the baristas are making all the orders for whether it's the drive-through or whether it's coming in on app. so they want to be where the people are and make sure the stores reflect that while saving money -- stuart: it's like fast food, fast food's got to be fast. lauren: and cheap. stuart: but their coffee's not cheap. i see on my prompter two words, taylor swift. [laughter] here come the ratings. we had a big summer for concerts. taylor swift, i bet that helped live nation. not much. lauren: beyonce also, because that was a powerhouse concert also. huge demand, expensive tickets. 12,000 events and 155 million tickets sold by live nation in the quarter. their revenue rose 32% to more than $8 billion, and $7 billion of that came from concerts there's a negative here, it might be why the stock isn't doing much. the justice department is investigating them for -- we

knew about it. but it's always an overhang, anti-competitive practices. stuart: you got it. let's move on to draftkings. they must have done well because the stock is nicely up. lauren: revenue grew 57% for all the right reasons, adding more customers. how much did they spend? $114 a month, that's a 14% increase. and as a company, they're paying less for promotions and marketing. this is all stuff you can ask the ceo about. stuart: yeah, jason robbins, he joins us around 10:20 the this morning. he will be on this show. then we have restaurant brands. they own places like burger king, tim horton's, popeyes, etc., etc. way down, 4.6%. lauren: mcdonald's is eating burger king's burgers. we saw from their earnings report, they're able to draw in all consumers but really grab that lower income consumer who's coming in for a deal. burger king is trying to do that, but they're not doing it successfully. stuart: okay. thank you, lauren.

check the big board. this in business now for just over five minutes. dow's up 155, just a little shy of 34,000. move on to the dow winners, please. yeah. goldman sachs at the top, nice gain there. boeing, 3m, disney, american express all on the winners' list for the dow. the s&p 500, show me the winners, please. top of that list, insulate? lauren: expedia. stuart: up 15%, look at that. gartner, paramount, cardinal health. no really big names up there. show me some big names on the nasdaq list of winners, monster e beverage? good lord. moderna, airbnb, warner brothers and lucid. lauren: do you know this is the best week of the year for the market? stuart: is it so far? lauren: it is. the s&p is up 4.9% this week and the nasdaq is up 5.2% this week. thank you, jay powell. stuart: and i called it a boring

jobs report. lauren: until brian told you. stuart: look at that that, will you look at that, the yield on the 10-year is thousand below 4.5%. that's big news, i mean, really big news. it was at 5% how many days ago? a huge move into the 10-year treasury. where's gold? it had been flirting with $2,000 an ounce, it's at $2,003. bitcoin, no decline there it's at 34,4. a decline on the day, but that's been a rally over the past week. price of oil, $82.07. nat gas, don't care, it's at 3.50. up a little. the average price for a gallon of gas, i care about that, keeps coming down, down one cent overnight to $3.43. diesel also down one cent. coming up, you know, it really is not too late to be on the show today, so don't forget to send in your friday feedback. i want it all, please, the good, the bad and ugly. send your questions and comments to varneyviewersfox.com. according to reports, top

democrat party members are preparing themselves for the 2028 election. it could even be 2024 if biden drops his bid. we'll tell you who are the contend theres. customers may want to think twice about not tipping door carb delivery drivers. the company warns users, you'll wait longer if the food order hay place comes without a tip -- they place comes without a tip. watch out. we'll be back. ♪ i need dollar, dollar, dollar is what i need. ♪ hey, hey. ♪ well, i immediate dollar, dollar, dollar, that's what i need ♪ this is american infrastructure. megawatts of power, rails and open road,

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stuart: according to reports, newly-minted speaker mike johnson lives paycheck to the paycheck. lauren, i'm curious. what do people say about that? lauren: some of them love it. he's just a regular american. four kids, one adopted.

doesn't list any assets, doesn't list any investments, so this is what lauren boebert of colorado says. so the daily beast wants people to be mad that speaker johnson isn't corrupt and hasn't used his office to enrich himself. this is how out of touch these guys in washington are. and the haven stream media. texas congressman chip roy says to the extent accurate, he's like a lot of americans right now while also navigating raising a large family. what a monster. if and the author, jim carney, who let in the poors? so, again, it seems like mike johnson, the speaker of the house, lives paycheck to the paycheck -- to paycheck, and a lot of people many d.c., the elite, are saying, hmm, that's just not right. stuart: he's a regular guy. he didn't take a ton of money off his service in congress. people like that. what's wrong with that? we've got to move on, i am told by our producers. okay, the jobs report this morning, 150,000 jobs added in

october, unemployment rate up 3.9%. peter morici is with me. brian brenberg pointed out there was a decline of 348,000 jobs in the household survey. now, that shows real weakness in jobs, right, petersome. >> i think the two surveys are out of line. the population survey is notoriously unstable. however, we can't tell where it'll come out. as we read the jobs report now, the job market is moderating. and this's a good -- that's a good thing. if you consider the uaw strike, it would be 1 is 85,000 jobs, that's a bit high. my feeling is we're going in the direction that we would want to if we were to accomplish a soft landing. the wage growth was slow. it wasn't a bad report. stuart: yeah. it was -- i thought it was slightly boring, actually, because i didn't see that number from the household survey. but it certainly resulted in a sharp crop in interest rates. -- drop in interest rates. that's intriguing.

do rates stay down? >> no, i don't think so. if we look at a who buys treasury securities, the japanese, the chinese, the federal reserve, they're all pulling out of the market. my feeling is as the treasury comes back in and starts selling more bonds, either the short rate goes up because it's emphasizing selling more 2-year bonds right now, or the long rate goes with up, the 10-year. but one way or another, they're creating more supply than there is demand. the advisely panel to the treasury has warned them they don't have enough buyers out there. the other thing is now that hedge funds if so forth are going to play a bigger role, we're going to get more volatility. and that's what we're seeing. we're roughly at 5, now we're down near 4.5. this is not surprising. talk to me when it's down around 4. stuart: okay. i want to talk about return to the office. i want to offer my opinion, for what it's worth. [laughter] i say flexible work schedules are here to the stay. i say that five days a week in the office, that's dead. what say you? >> i agree.

five days a week in the office is dead. professors have been showing it. ask professor brenberg the last time he went to the office for five days a week three weeks in a row -- stuart: actually, he works for us now, so he's here all the time. [laughter] >> the toughest thing to find in the office, trying to find this guy outside his office hours, and when he's in there, he's probably snoozing. that's what i did, because everybody talks to you online anyway. my feeling though is there's a tension developing between workers and employers about when they really do have to show up. in other words, the dean calls a meeting, i tell him i'm going to be on "varney," so i don't have to go. i used to try to reschedule these things for deans' meetings. stuart: if they know you're on "varney" on fox, they won't let you go back. you realize that. [laughter] >> well, that's why i'm emeritus now. [laughter] but the thing is there's a tension developing where you have people who don't want to hoe up when they really do need to show up, and they're starting to bring lawsuits and so forth. this is not a healthy thing.

i mean, people have to learn that there's times when they do need to be in the office, and they're pushing back on that. and my feeling is let's have a softer job market, which is probably coming next year, and and then we'll start to get to the equilibrium. stuart: figure it out. peter, thanks very much, indeed. see you later. doordash warning customers skipping tipping may result in longer delivery times. your back to this -- you're back to this, lauren. lauren: well, if you were to place an order on doordash today, you were to do this, you'd get food delivered to you, stuart. you're getting your mind around this concept. stuart: i've never cone that yet. lauren: i know. okay. bring up the notification, you might see that,s add a tip. orders with no the tip might take longer to get delivered. are you sure you want to continuesome so they're urging you to tip more, and the company says, quote, as independent contractors, dashers have full freedom to accept or reject offers based on what they view as valuable. okay. but remember, the concept of

doordash here is you're being asked asked to tip before you get your dish. do you tip your server first at a restaurant? watch. >> i think, i think the tip should happen after the food has arrived and they deserve a tip. >> you don't know if your food's' going to come on time, that it's going -- that the service is going to go through well, so it makes sense to to tip once the service is completed because it's either they did it well, you know what i mean? so that is kind of bizarre, yeah. >> well, that's a horrible business practice, in my opinion. and i think people should just boycott doordash. lauren: i want to hear your opinion. doordash says they have seen a meaningful decrease in no tip orders. stuart: as a former waiter, i always give big tips on all occasions. brian? >> this is not a tip, it's an insurance policy you're buying so you can get your food faster. that's all it is. stuart: what's wrong with that? lawp a lauren what about tip

fatigue? when people are being asked to tip for -- why can't you just do it after? >> but this -- stuart: because i want to incentivize the driver. lauren: okay. >> you actually getting something -- lauren: i think people agree with you, because this has worked for doordash. especially if you live in los angeles and you don't want to sit in all that traffic, you're paying someone to bring you your food. stuart: this is the first hour of the program. if we go on like this the, i'm not sure i've got the stamina. [laughter] the war in israel has split the democrats. biden's political support is eroding on this issue. that's going to be in my take, top of the hour. ftx founder sam bankman-fried, he's guilty, facing many years in prison. we'll break down the charges and where this case goes from here. we'll be back. ♪ i'm the bad guy, duh ♪

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sentencing, i believe. no, there for the verdict is. when do we get the sentence? >> reporter: not until march 28th, actually, so we've still got some time. and of course the government -- the defense is going to the file an appeal, as they always do this these cases. we also might get a march trial where there could be further charges, but the government could decide to forgo that. how many years he gets depends on a couple of factors. he is facing up to 110 behind bars, but that is up to the discretion of the judge. bernie madoff got 150, elizabeth holmes, she faced 80 years, only got 11. spf, he's only 31, so some legal analysts say throwing the book at him could look like 20-25 the years. however, this was the first major crypto trial. they could try and make an example of him. and his performance on the stand really could hurt him with judge kaplan, and that hail mary testimony, stuart, was what did him in with the jury. much of the prosecution's case drifted into the weeds at times, so much of it hung on the words

of his cospear co-conspirator -- co-conspirators. but he took the stand, and his hubris was on display. he was decan find, he claimed he couldn't remember simple details, an mit grad, right? that performance allowed the prosecution to package their narrative neatly. the closing rebuttal from the prosecution, the assistant u.s. attorney said he stole the money, he used it for power and influence, and you, the jury, though better. and, stuart, so much of it comes down to the credibility of witnesses. he wasn't credible. all of us, all the media that was there, we were not surprised when the verdict was guilty. we were shocked it only took four hours, but i will say he didn't seem shocked. he was emotionless, almost as if he was expecting it. stuart: brian, what's your reaction to this, because this is one of the biggest financial scams of the century. >> $8 billion plus stole, money used to buy political influence. this ties together everything in america we're concerned about

right now, and he is the elitist base of this. he was terrible on the stand. the judge didn't like him, the jury said we don't want to see this anymore. i think this is really a watershed case. and, you know, it hasn't affected crypto markets, but it's got to send a chill through everybody that runs a cane in that space, don't be him. stuart: i'm just not sure i like the idea of sending a man to prison for 25, 30, 35 years, i'm sorry. for financial proud, i'm not sure i like it. >> we'll see what the judge says. stuart: that's harsh. brian, thanks very much for being with us. kelly, thanks for the report. tammy bruce on call ors if -- calls for riles the take a pause in the fighting. the ceo of draftkings on their booming customer base. steve hilton on biden's strategy to revive 2020 themes? sean duffy on trump leading biden in the polls. 10:00 hour is next. ♪ your love's got me looking so crazy right now. ♪ got me looking so crazy right now, or your touch got me looking so crazy right now.

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