stuart: your second. lauren: i second that. stuart: the crypto king started investing in crypto in 2018, knowledgeable lady. what your answer's your answer? most populated country in africa? >> i will go with nigeria. stuart: you are right. it is definitely nigeria, population of 230 million people. that's your first experience on "varney and company". did you enjoy? >> absolute. stuart: you knew the answer. will you come back? >> absolutely. that is it for "varney and company" this friday morning, we have 7 seconds to go. coast-to-coast will start right now. neil: looking for a pause in

the war, but no positives rally. the story of the week and when it comes to stocks, no sign that it's going to let out. all the major averages looking at 5 straight days of gains, try 5% or better for each of those market averages, today softer than expected, 150,000 job gains for october, treasury yields are melting with a 10 year fetching 4.5%. what that means is this, things are good here, scary abroad, money is bringing plenty of worries over there and we are covering both now. stuart: welcome, everybody. they are calling it the great divide, the dichotomy between what's going on in the stock market and what's going on in the world. my friend from the stock exchange explaining why that might be the case.

is weird, isn't it? >> yes it is weird. we often see geopolitical things and what's happening around the world, sometimes not having an effect on what's going on in the market especially when it is not particularly financial problem happening worldwide. obviously we know the world is in a grand divide at the moment and whatever is going on is problematic but the market itself after the selloff we saw over the last month, we are seeing a nice rally in the last 5 days, clearly a function of what's going on with bonds and coming into the end of the year. lauren: 1 might member the yom kippur war and the fallout 50 years ago when markets continued taking after the fat. the oil embargo in the long gas line. that's not happening and that may be the big difference for

now. >> what the market doesn't like are unknowns. in anticipation, in the month leading up to the ukraine war the market got hit severely because we weren't sure how this was going to bear itself out but it's not a particularly nice one. when blood is in the streets the market tends to rebound. once the unknowns are around, global conflict happened and the unknowns are over, the market tends to rebound to. as horrifying as this happening around the globe, whether it is ukraine or what's happening in the middle east, we are watching it happen in real time so the market knows what's going on. it is able to gauge what's going on so the market has a mind of its own and has what they feel is important and

that's rally mode which is a good thing. stuart: neil: they don't want to see another black swan develop and, so far we don't have concrete signs of that but a sliding interest rates, the meltdown and yield of 4.5%, kick it around the 5%. it gives cover to a lot of things. peter:we talked about it last time we spoke, we are dealing with a 500 piece puzzle to a thousand piece puzzle, so much economic data going on whether it's the labor market, today we saw numbers come out, they were able to review the july and august numbers. there is a paradox that less jobs is better for inflation. it is complicated. it's a paradox but so many moving parts. pci, what's going on with the

markets, obviously we have a month now without a raising interest rates. we are on the back end of an aggressive rise on interest rates. inflation is down, way off of its highs, the goal is to%. what i think was important about what jay powell said the other day as we are not looking to hit 2% in two months, three months, four months, we are going to be very patient, looking towards 2024 into the mid-part of 2024 before we have to act aggressively if inflation doesn't get much better because i think people were in this mindset that if we don't hit 2% by december or january they are going to start getting more aggressive with interest rate raises. you made clear that they are going to be patient and that is good for the market.

stuart: you mentioned this when this whole thing started. be safe, be well, be you. mike tobin is with us, this is an ongoing war. he's in the throes of every day. we have the secretary of state, and benjamin netanyahu making clear there is no cease-fire in the works temporary or otherwise. what's the latest? >> reporter: the rocket fire after a pause is coming out of the gaza strip and from this vantage point we watched a big fight to the northeast corner of the gaza strip. it is in the village the we watch the israelis put a lot of flares in that area to see what they are dealing with, we had a lot of small arms fire and launched helicopter gunships, unload weaponry to ground targets. today we've got a better idea what happened, hamas released some video showing their fighters going with small arms

fighter and their homemade antitank weapons. israel has released video showing weapons caches and a tunnel to the very edge of the gaza strip. they went inside and israel says they neutralized the tunnel which means they blow it up, something they have to do time and again with this urban fighting. >> you open them up and they lead to a matrix of tunnels underground. hamas is under the ground, embedded inside the civilians of gaza with hostages. that's the challenge of the fight that we've been training for. >> reporter: antony blinken has been here in israel, he stressed that humanitarian aid is going to need to make it to the people in palestinian territories, specifically the gaza strip or their won't be a

partner for peace when this is over. this amid discussion of a humanitarian pause so aid can get to the people. benjamin netanyahu said there won't be a temporary pause unless it involves the return of hostages. in lebanon the secretary-general hezbollah, praised the massacre of october 7th but stopped short of calling for another war on the northern front. adam: the praise of that massacre stunned me. he seemed to distance himself from it but clearly endorsed it. >> reporter: clearly he endorsed it, changed the picture of history in the region in terms of the conflict with israel and he said if israel wants together hostages back they have to negotiate. adam: be safe, you probably get tired of us saying it but be careful.

aid is going to have a tough time in the senate, where does it stand now? >> in all likelihood what senator schumer put on the floor is something that looks like the package president biden put forward. there strong support on the republican side of the aisle for is -- aid to israel and we want to see it delivered as soon as possible but obviously what we see initially is the whole package. that will undergo significant change before it gets republican support. neil: a lot of people interpret this as delay getting help to israel. it's a commitment more than any other country on the planet, that's baked into the equation. it is additionally. the house at least has made it

clear, they don't like mixing it in to ukraine. many of your colleagues do think this should be part of something bigger. the president feels that way and chuck schumer feels that way so how is this going to be settled? >> the house wanted to take up aid to israel separately. there's a strong feeling among republican caucus in the senate to do the same thing, that is not what senator schumer is going to do. in regard to the ukrainian aid there is support but that is going to have to include something that shuts down this flow of illegal immigration on the border. that is something i'm working on, senator james lankford and others but it is going to be have something, not more funding for mortgages to process people faster which is what the it ministration has been doing but something that

actually shut down this open border because border security is national security as well. neil: i would be remiss if i didn't mention what this hezbollah leader has been saying in his first public remarks since this war started four weeks ago, tomorrow, saying all possibilities on the lebanese front are out there in the open and he's referring to hezbollah strongholds in lebanon and the attacks that have been orchestrated through hezbollah since they were taken about for them and financed directly or indirectly through iran. one reason i mention it is he's not at all concerned about us warnings to stay out of israel and stay out of this war. do you believe that? >> i think the administration is going to have to strike back. whether you are talking about hamas or hezbollah, they are proxies for iran.

iran is calling the shots and our forces in iraq and syria have been attacked, 28 times just since october 7th. we have positioned our forces in the region, we are going to have to take iran to task, no question, and it is going to have to be in a way that truly does stop and detour, whether it is iran or hezbollah or others from engaging further with israel and we need to support israel to get the job done against hamas. that's what this assistance is all about, but we are going to have to show them that we are willing to take iran to task. we are going to have to show that. neil: they think they will go after their sycophants and loyalists and b team attackers but don't think we will ever go after them. neil: they finance it.

>> they are providing the weapons, they are calling, directing what gets done here, we know that and we have to show that we are willing to put a stop to it. neil: north dakota senator, you see fast-moving developments abroad, stocks are up, bond yields are melting, tenure is under 4. 5%, bitcoin holding its own through all of this even with the drop off today. fascinating fallout from the sam bankman-fried conviction, all 7 counts, the better part of 100 years, kelly o'grady following it from the beginning, with us next. (sfx: stone wheel crafting) ♪

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it is why we're coming up on stage to collect your diplomas. mom, love you always. vo: when you graduate, they graduate. visit finishyourdiploma.org to find free and supportive adult education centers near you. neil: he was once one of the biggest stars of wall street, the crypto king and now sam bankman-refried goes to jail and of the sticks, all 7 criminal counts, he is going to be there for a while. kelly o'grady from the very beginning was on top of this case, we condemn asked for a better reporter to follow it. what kelly didn't know at the

time is she would be living in new york city 24/7 as this went on and on and on. great to see you, great job on this. now what. >> this was the assignment of a lifetime. one of the most shocking things last night, we all expected this to going to next week, it took the jury just four hours to come to a verdict. for some context, bernie madoff it took the jury four days to convict him and he confessed. when the verdict was read, to give a little color inside the courtroom, he remained stoic, emotionless even. 's mom and dad were a wreck, choking back tears understandably. what's interesting is what you may have been the nail in the coffin for him was his decision to testify. the case came down -- adam: allowed him to. >> reporter: he was in the

media telling his story very liberally at the beginning of office so i think a lot. it was a hail mary. i've spoken to a number of former prosecutor they say this really came down ability of what would you have folks testifying against him who had fled guilty but sam bankman-fried on cross examination was unable to recall certain details, kind of suspicious as an mit master. the defense bill filed an appeal, he faces up to 110 years in prison, potentially more. going to be sentenced in march but the question becomes how many years is he really going to get. bernie madoff got 150, others with homes got 11, but she was facing 80. does the judge decide to make an example of him, because this is the first big crypto case? he's 30 one, very young. "my take" away from this is

whether it is crypto for cash, fraud is fraud and that is the message the jury sent last night, four hours. >>'s parents were devastated but more has happened. are they off the hook? >> reporter: there hasn't been an indictment of them. there are lawsuits against them because his mother allegedly was telling him how to funnel money through political campaigns through other people. dad was an employee at the company. the funny text messages came a lawsuit, $200,000 salary, he wanted a million at least but i think there's a lot of questions about their role. certainly yesterday, they were just thinking about the fact their son is going to spend

many years -- 20 fifth crypto have gone to that implosion with this have come to life? would he be the crypto king today? you ask about nefarious characters who fell on their own sword, we will never know but it didn't help matters any. >> reporter: exactly right and that makes this case different than the ready-made off that at bernie madoff ponzi scheme, that was a scheme from the beginning. this seems like they made bad decisions, took because the money made to make money to make investments and try to build out their brand but then when you saw the domino effect the number of different companies start to fall, luna, tara, et cetera, the value of bitcoin, and everything started to crash, customers start to take the money out and they were left in this storm, the issue is the prosecution nailed him on was okay, you had time, you could have third homework

down the public everything is fine for we are good, that's fraud. neil: his girlfriend was an inside executive herself, there was testimony against him. >> absolutely, the experiment, ceo of alameda researchers that i committed fraud, he told me to do it. neil: amazing coverage, come home safe, forget what the west coast like that's where she's from. kelly o'grady, i want to go to charlie gasparino in palm beach, had a chance to catch up with not only the world's richest ceos, more details in the second, did so in palm beach. it' s up to her for charlie who gets to interview these big guys and he is in palm beach. to you, my friend. charles: you can get a grasp reflex and bankman fried bernie madoff, the plan, creator of billions of dollars well, the

home the retail empire conservative activist, i caught up with him here in his beautiful, a will interview and everything we will live 30 years, why is not optimistic about the future, listen to what he has to say. >> for me. the last election was a big disappointment for me. charles: and my back? i thought we had another two slots. neil: why don't we play that.

>> i have them in mind, they can't afford to fill their cars with gas. they can't afford to put a meal on their table with their families. they can't afford their rent. everything there is is up. there wasn't the nazi regime and this is no different than nazi germany coming back. i see nazi germany all over this thing. her in the 40s when i grew up and i saw this happening and of course it ended with the holocaust and the concentration camps, they were just killing jews for the sake of killing

jews, that's what these kids -- don't know what they are marching to. when they say killing the jews. charles: he said inflation is destroying the american middle class, bernie is jewish, drove in newark in a tenement, never in his life that he think college campuses would turn into many versions of nazi germany. we had the full interview on fox.com. you will will see you still fighting against this even at 94 at the twilight of his career and his life, we need more bernie madoffs, bernie marcuses, not sam bankman --fried.

neil: charlie gasparino toiling away. in the meantime, here we are, 250 one points, the latest on israel and the fear that it could happen here if we are not careful what is going on at the border is igniting huge concern. ♪ tourists tourists that turn into scientists. tourists photographing thousands of miles of remote coral reefs. that can be analyzed by ai in real time. ♪

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neil: if you director ray and other intelligence officials believe those speaking in are those who could harm us and maybe take some inspiration from what hamas did in israel a few weeks ago and do it here. how do you feel about that? >> reporter: we are extraordinarily concerned about it. let's be clear about one thing, four years ago we had the lowest illegal border crossings 40 years. when president biden came into office eliminate all those

policies we have border policies where this past year, 2. million people were at cross the border illegally. the 20 the cover of oklahoma also concerned about what happening on our border and lessons we could learn from israel, this is not news to my next guest, lieutenant chris olivarez, we always enjoy talking to him and his hard work. it is proactive, hard to be when you are facing that was what do you make of what the governor is saying? forget about the possibility of something happening here. that individual individuals might have already slipped through to make sure it does. >> reporter: i can tell you the threat of the year. if you look at the past 3 years the number of illegal border crossings and the fact we have

1.6, 1.7 million got aways terrorists have been encountered at the border, that only tells you one thing, the threat is here is concerning what the country but should be concerning to the federal government. they need to secure the board but they are not doing that especially with the situation happening in israel, we've been on high alert. by doing so, they are allowing the border the more vulnerable than ever before. at the government and, we had the most secure border prior to 2021. now with the disaster. that is why we see these threats. know what their intent is that it had a detrimental effect initially when the threats are here in our country. neil: i had the honor of speaking to you over the years. one of the interviews in the early days talking about who is roof used to be those from

mexico, nicaragua, et cetera but then it was widening out point that follow-up visits, up to 50 different countries represent 7530. that the left, to fathom. it is actually one hundred 70 countries in the last few years especially those individuals coming 5 to terrorism but want to cause harm to the united states that in itself is a threat to national security and the fact of the matter is the federal government has the ability to put something in place to secure the border and prevent these threats from happening but they failed to do so. we talked for so many years, texas is at the forefront, we are trying to do what we can

but what the governor has been doing the last three years, we come across these threats every day, not just those on a terror watch list but also criminal gang members with violent, background and cartel members operating in the united states and fentanyl killing tens of thousands every year so the threats are here and we need to put a stop to it because we cannot you to have these threats now we have to beyond high alert more than ever before. neil: thank you, keep up the good fight. chris olivarez, you hit the leader of hezbollah saying things like we are not over this, we are not concerned about the us warnings to stay out of israel/hamas conflict, americans have to pay and americans must leave gaza and on we go.

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>> in my opinion there are two, the first objective we have to work on 24/7, is a end of aggression against gaza, end of war against gaza. the second objective is victory for gaza, victory for the palestinian resistance in gaza. for hamas in particular to be victorious in gaza. neil: the commanding leaders of has reporting from the north where they are threatening in lebanon and attacking the israelis almost on a daily

basis saying right now it is hamas's more to lose and they shouldn't lose it and assuring they won't lose it. how far they went with that in promising a wider war is in the eye of the beholder. u.s. air force regular general spalding, war without, best-selling author. he really did leave anything out. he threatening, he for hamas, that's not a shocker, but i couple that with, these horrible leaders meeting and unafraid to be in complicity pictures and videos, they are not afraid not only of leading and letting the world see but espousing a lot of their scary talk. what do you make of it? >> he wants not just cessation of hostilities but victory for hamas. what that equates to his extermination of the jews.

when you take that speech and add in the fact that 90% of stuff coming over tiktok is pro-hamas, the power of, and china support theory in which support hezbollah and hamas. forgetting a better view of what is going on. looking at anti-semitism, going to the roof, and a very hot year to come. neil: we've been sending out warnings for others not to think about getting involved. the famous to the present, don't. along he comes, not concerned

about warnings to stay out of the israeli hamas war as if they are not in it already. what is he signaling? >> we are seeing attacks by uranian proxies. throughout the middle east. adam: we had some trouble with your audio. finish that. speaking people coming across the border can be part and will be part of this light. we see that before hamas's attack of israel, we see isolated incidents, thousands across the border. how do we not think it is -- we have our students protesting

and supporting hamas in our university. i don't think the administration is approaching it with the proper respect and desperate -- difference that we have to get serious about. neil: you know better than anybody else real war but, seems to be winning this pr war and i wondered whether we should be concerned about that. >> we should because the pr war leads to actual war. part of the propaganda routine is not just to change the minds of us citizens but also to increase the fervor of the support of the radicalized supporters. china does this for the people's liberation army soldiers and they are hypernationalized. the military even more so.

what you are seeing is infusing of these messages from iran, hamas, what they are waiting for, the invasion to israel to unleash, i think, hell. neil: russia through the wagner group providing equivalent to hezbollah. what do you make of that? >> we just recently put sanctions on companies for supporting russia. what you see going along with this conflict is splitting of two systems. the other supporting the free world. the question is how is this going to shape up for the business community, not just in terms of war but in terms of our economy and the global

broader economy. neil: thank you for your service to this country. jackie deangelis getting ready for "the big money show" 15 minutes away. jackie: spf guilty, didn't take long next. they grew up in the islamic republic of iran, she was taught chant death to america, her message on the war in israel. her jobs report was less stellar. more coast-to-coast after this. ♪ - everyday products, designed smarter. like a smart coffee grinder, that orders fresh beans for you. oh, genius! for more breakthroughs like that- i need a breakthrough card. like ours! with 2.5% cash back on purchases of $5,000 or more.

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we are looking at the fourth quarter of following the sale, the longest losing 3 for apple since 2001. last time we saw this happen, guidance was flat and that disappointed to some who are looking for some growth from last year. apple made more money than forecast with a record september quarter for iphones and services, the iphone makes half of apple's business and i asked tim cook have a new flagship iphone 50 with ellen, he said it is still early and they are supply constrained, but we are working hard to remedy that and meet the demand and i believe we will reach a supply/demand balance, china the concern with rewards that the iphone 50 wasn't selling as well. before the september quarter. cook says we set a record for

iphone revenue during the quarter, the most competitive market in the world so i'm sure without competition we could do better, the third-largest market for the world's biggest company and second rate selloff after 8 analysts cut rate predictions. goldman raised the price target calling 227, the feeling on wall street, integrate business, 45% profit margin find everything you sell, $160 billion in cash on the balance sheet. people want growth but where do you go from? services had a monster $23 billion quarter. neil: when your battleship takes a while to turn and move.

china notwithstanding that, there's apple demand but it's being contested. susan: the global environment with interest rate at 20 year highs, high inflation, strong dollar having an impact the bottom line. neil: i needed you yesterday. this and other economic developments, network founder and ceo in the chicago, we want to talk about the employment numbers. the fallout from apple seems to be concerned this that things would slow a little bit. it is it is not a problem but the forecast is great. is that a reflection, they are losing our zeal to spend. >> looking at consumer

spending, $1000 discretionary item people don't need upgrade all the time. when you see people lose the cluster for that and it is something we don't talk about enough that middle-class people can afford that makes them feel they can do anything. that the power of the iphone. when consumers aren't going to spend money, they are a little nervous and i was at the inc. 5000 conference for the fastest growing privately held companies in the world and the biggest concern people had, these were small to medium-sized services, the conflict has people concerned has ripple effects, it is a result that i have never seen in my 30 years of business, small and medium-sized

businesses more worried about the global socioeconomic problems as they are now. neil: i could flip that around and look at the function. feel free to correct me. the flipside, the good news, it gives central banks including our own less reason to raise rates. this was a fairly respectable employment report but job growth is slowing as pay increases. i don't know if that is the soft landing but it avoid the global crash. >> you are right to an extent. it would be crazy to see the fed raising rates. we added one hundred 50,000 new jobs, 33% were government jobs. i am the pro, adding jobs is positive no matter what but

with one third of the jobs added to the government sector and see that rates are at the level they are, it starts to be a lot like a political boost to the economy that we have to look at and say it's good that rates won't be raised but that the soft landing. we are coming down, the question is will it be softer or bumpy. neil: mortgage rates have been ticking down but are close to 8%. that seems to be a given. what do you make of that? >> at the end of the day mortgage prices are important. when people need to purchase a home, they do. we are so used to the 0 rates of the last decade, 2% or 3%

interest rates, i am 51, we have been used to something so low for so long we forget people need to purchase homes and they will go with a 5 or 7 or 30 year fixed, people continue to do that. neil: that i tell you what my first mortgage was? 13%. in the early days. great seeing you again. the latest on this market, 300 points. ng) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪

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that's life well planned. neil: can we keep this going with three hours to go? this is how we look on the week. the major market averages are up 5% or more. look what's going on with the nasdaq. for months, charlie brady who follows of this passing along his historical perspective but is busy and ignoring me and i don't take it personally. sprinting ahead as interest rates come down, 4.5% right now on the notion of that. now "the big money show". jackie: we