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tv   Varney Company  FOX Business  September 13, 2024 10:00am-11:00am EDT

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ashley: you dance the night away as we look at the hazy new york city on friday morning. it is 10:00 in the morning eastern time. i am ashley webster in for stuart varney. straight to your money, it has been pretty muted again but we should point out the dow and the s&p are within one% or so from record territory. all moving higher today, the dow up 214 points, the s&p up 0.3%, the nasdaq up 12:45% of the markets continuing to move slightly higher toward record territory, the 10 year treasury yield down slightly 3.66% on the tenure, the price of oil
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pushing close to $70 a barrel and we are up one dollar and $0.04 which takes us to $70 a barrel on crude so that's moving higher, but going down slightly, $86, 57,936. we also got the latest read on consumer sentiment, how is the consumer feeling, the number please? lauren: the number came in 69, the highest since may. it is up two months and a row and it is 2% above where it was in august. why are we feeling better? prices are coming down especially for durables for favorable prices perceived by consumers, when your inflation expectations, we have them down at 2.7%, the lowest since december 2020. 5 year inflation expectations come up a bit to 3.1% so maybe
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we don't believe the lower prices will last. ashley: markets, the dow is up 220 may be reacting to that but a good strong number. now this would former clinton advisor mark penn calling on abc to conduct an internal investigation into the debate's planning and execution. in a new op-ed entitled abc's bias deprived voters of a fair debate he writes, quote, they called trump out on every falsehood but let harris get away with one lie after another. a presidential debate shouldn't be a staged wrestling match, it should feature two candidates on a level playing field so voters can make their minds up free of interference. tammy bruce, i want to let you rib at this. is here right? >> years and we've seen this so many times and never get
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answers and we seem to have no alternatives. there could be an alternative which is each candidate choosing their own moderator and then having the platform be c-span. what the american people need to see is some seriousness about how this could happen because clearly it was unfair and it was 3 against wanted i don't think that served kamala harris either. for both candidates, for the nation. what is interesting is not, highly unlikely she got the questions ahead of time, the bigger issue was what they decided prior and how to handle donald trump and the decisions to fact check him but not her, to not follow-up like with the first question where she didn't answer the most important question about the economy, what have you done it made people's lives better and she just riffed, didn't follow-up. there was no question like but
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you didn't answer my question and americans wonder why, this is part of the legitimacy of our government and our society, being able to trust the media especially when it comes to a federal election like this. ashley: i said earlier i could feel the disdain of lindsey davis towards donald trump. just came out of her, she couldn't hide it but on to this one. listen to cnn's jake tapper and what he had to say about harris at the debate. >> despite the economy being the number one issue facing the country the sitting vice president generally reverted to talking points about a few of her policy proposals. even harris allies say she needs to talk more about what she will do for americans if elected. on the border another vulnerable issue for harris she also dodged. would you have done anything differently from president biden on this? >> i'm the only person on the
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stage who has prosecuted transnational, organizations for the trafficking of guns, drugs and human beings. >> that wasn't the question. ashley: good for jake tapper to point that was one strategist said harris's biggest issue is voters still don't know her. it will take more than a debate and one cnn interview to solve that problem. my question to you, is the tide starting to turn against kamala harris? >> this is why she has been avoiding interviews, because she doesn't want to tell the american people which is going to do. we know what she's going to do, we've been living at for the last 3. 5 years and she doesn't want to state it because that will doom her candidacy but the reason jake tapper says this, we saw during the debate and focus groups afterward that that is exactly what the undecideds
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were saying, one woman was saying, what is an opportunity economy, what does that mean? we don't know. people have gotten angry we are being tossed around like dice where it doesn't matter. they know in order for her to win, they are invested in her winning is she's got to give specifics, the problem is either way, she's not going to do well. specifics americans reject, we want a change election, she's not that agent and the polls show that. ashley: fascinating stuff, fascinating, bringing the heat, thank you for being here, appreciate it. kamala harris in tuesday's debate moderator lindsey davis have a previously unknown connection. what is it? lauren: both members of the same sorority though at
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different schools and 13 years apart. lindsey davis was alpha kappa alpha at the university of virginia, she graduated in 1999 and the vice president was alpha kappa alpha at howard university 1986 so they were sisters. neil: tenuous but okay, it is a connection of sorts, thank you very much. let's look at these markets, the dow and the s&p, within 1% or thereabouts of record territory so we put higher despite the volatility of recent weeks, the top 160 points coming back a little bit. mark, you say stocks are richly valued. are they overvalued? >> stocks usually are richly valued when they are near all-time highs. doesn't mean they can't go higher, investors need to be
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wary of the fact the market is betting on strong earnings so if we have this technology boom, great efficiencies and productivity gains, business keeps overcoming hurdles and higher taxes, business is evolving in this country and delivering. as long as that continues, stocks are fine. it's the future. can they deliver earnings in q3, q4, with political upheaval are bound to experience over the next few months. lauren: 1 could the impact be of the election on the markets? >> there's two very different areas we have to look at, one is the regulations and executive orders and the other is policy past by congress. i'm more concerned about the first.
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i'm concerned about losing the white house, are they going to reduce regulations or add to them. trump did reduce of them dramatically. they've been replaced, refurbished and we are facing a new regulatory scheme. the impact are not immediate. for another four years they could become onerous. they are stopping every merger, stopping amazon from buying rumba and the grocery store chain even though against amazon and costcos of the world and online shopping. that's my bigger concern. tax plans that are rolled out are less of a concern because i'm not sure any of them will get past, not taxing over time, not taxing social security, not taxing tips, giving people 50,000, that's election year rubbish. i'm concerned who is in the white house, what are the executive orders, what's the
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regulation and that impacts congress. neil: thank you so much for joining us this morning, really good stuff. quick programming note, wednesday we will cover the fed's highly anticipated decision day. you can catch on fox business from one:00 to 4:00 eastern and no commercial break. we will carry it all the way through 1:00 to 4:00 on fed decision day on fox business. you've been looking at the movers this morning, one stock we are talking about is boeing and its problem with the workers and the new contract. lauren: the biggest labor union is on strike halting production of their best-selling jets. if this strike last 50 days like it did last time they went on strike in 2008 that is expected to cost boeing 3, to 3. $5 billion at a time when boeing get can't afford that. stock is down 2.6%.
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united airlines is offering in-flight wi-fi in a deal with elon musk's darling can the service will be free. they plan to operate on all their jets. testing begins next year, stock is up one. 7%. %. finally, oracle came out, raised therefore your revenue forecast and did it again and again and again all the way through 2029 thanks to the oracle cloud infrastructure. talk about looking forward. they are raising their price target on oracle trading up 2% at 164. ashley: someone stuck their neck out on that one. appreciate it. coming up, donald trump said he wants to end all taxes on overtime pay, he says it is time for the working man and woman to finally catch a break. congressman dan mauser on the house small business committee and we will get his reaction to the proposal. kamala harris will be returning
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to pennsylvania just days after her debate with trump. a new poll shows harris and trump are tied in the battleground state. brian has a preview of what we can expect from today's visit, that is next. ♪ (woman) did i read this? did i get eggs? where are my keys? (vo) don't wait while memory and thinking issues pile up.
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♪ ♪ with so much great entertainment out there... wouldn't it be easier if you could find what you want, all in one place? my favorites. get xfinity streamsaver with netflix, apple tv+, and peacock included, for only $15 a month. ashley: let's take a look at these markets on the last day of the trading week, the dow up 252 points, they s&p up 25, nasdaq up 80 points. it is all green across the screen. now this.
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cnn highlighted kamala harris is underperforming with one key group. which group? lauren: under 30s. harris is down from where joe biden was four years ago. watch here. >> young voters young voters young voters, group of voters the kamala harris is struggling versus what you might expect from normal democratic candidate in a normal year so kamala harris would love extra support from young voters, maybe taylor swift can deliver a few of those. beyond that car registration registration registration, look at you battleground states of pennsylvania and north carolina, the democratic edge over gop voters at this point in the process. >> taylor swift endorsed kamala harris. that could bring out her fans, the younger voter but taylor swift said do your research, vote for whoever you want to, just make sure you register to vote and that leaves the door open for republicans and that is what the cnn reporter was getting at.
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in the key battleground states including pennsylvania, republicans have been increasing their registrations, dems still have more but republicans are making way so taylor swift could bring in more young voters to register, doesn't mean a vote for kamala harris. ashley: that's the key point, interesting stuff. today, vice president harris will hold a campaign rally and penciling, most recent poll shows her and trump are dead even in the state 50/50. brian, what can we expect from kamala harris today? >> reporter: if it is anything like her postdebate stops in north carolina yesterday we expect harris to concentrate on two things. first and foremost a message about how more than 200 republicans have come out to endorse her campaign. the other thing she will concentrate on is the debate.
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she feels the debate has added momentum to her campaign while donald trump said yesterday he doesn't want another debate. >> we owe it to the voters to have another debate. >> we've done two debates and because they were successful there will be no third debate. it's too late, the voting has already begun. >> we mentioned the campaign clearly likes harris's performance in that debate. they've cut three new ad highlighting her performance in that debate the past couple days and yesterday harris and her running mate tim walz campaigned in north carolina and michigan and openly mocked donald trump's debate performance. do we -- sorry.
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i thought we had that sound. donald trump campaigning in tucson, arizona yesterday, he announced a new policy no tips on overtime on top of trump's plans to not tax tips and 118 taxes on social security. there is campaign coming out calling it, quote, desperate and scrambling. the economy remains the number one issue in pennsylvania, the latest congressional republican joint economic committee report shows consumer prices on goods and services are up 19% during the biden/harris administration in pennsylvania meaning pennsylvanians are spending $984 more per month on goods and services compared to 2021. absolutely astounding. harris is making two stops in pennsylvania both in rural trump areas first in cambria county and and wilkes-barre pennsylvania. trump won these areas handily by double digits, the harris
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campaign thinks they can make inroads with rural voters, that could make all the difference in the must win state of pennsylvania. ashley: a lot at stake. great stuff. damn user joins us this morning. let me begin with this. how do you think kamala harris will be received in your state? a lot of voters are trying to figure out what is her stand on fracking? >> she's going to be received great. we will have 45000 trump supporters greeting her when she gets to the airport. kamala harris stated many times that she wants to ban fracking which accounts for $42 billion in economic activity in pennsylvania. we are landowners, we have jobs and it is so important. now she is saying she's not going to ban fracking which means she will tax and regulate it. many pennsylvanians think she's
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not telling the frak stitching truth and that comes to the case with the defunding the police, things of that nature, crime matters in pennsylvania, in philly, even in wilkes-barre where she is heading. the border is driving pennsylvanians crazy because they -- expenses at the number of illegals that are here. private insurance, boys in girls sports, questions the word asked in that debate. boys in girls sports she supports and she lied about working at mcdonald's. she' s not ready to be president of the united states. i'm not sure what she is ready to do. ashley: donald trump announcing a new tax policy, your comment. >> i'm announcing as part of our additional tax cuts we will end all taxes on overtime. that gives people more of an incentive to work.
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it gives the companies, the people who work overtime are >> like they did with no tax on tips. a real trust problem with her. here she does a campaign saying
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trump is against social security. they are running radio commercials little whole thing is heading of trump's words, they've got a trust issue, call it flip-flop but she is telling the truth for the expediency as bernie sanders said, to win a campaign and that is showing through. we want and informed voter and once we get that, can i add this? kamala harris coming into luzern county. in 2021 trump won handily we had 20,000 more democrats versus republicans. you know where it is today? virtually dead even. we picked up is that many. we are doing the work and will deliver pennsylvania and it is all about strength, strong economy, strong national security and doing common sense things pennsylvanians want. ashley: great place to leave it.
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thanks for talking to us today. we appreciate it. now this. 80 bipartisan lawmakers, and david joyce is leading the charge. he's going to be on the show. senator blumenthal says americans will be shocked when lawmakers released their report on donald trump's assassination attempt, that story is next.
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will make at the factory, india is the world's third-biggest car market. getting production back there is a big deal. they have expanded their deal with google to bring autonomous ride hailing to austin and atlanta. they are already doing so in phoenix, stock is up 6. 5%. %. spotify has a pilot program, parents will decide whether under 13 children can listen to. stocks up 80% this year. ashley: not bad at all. new fed data showing consumer debt hit another record high. edward lawrence joins us this morning. how much debt are we talking about? >> a lot. this is the other side of the higher prices under the biden/harris administration.
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we have a record amount of new debt overall, the new debt is $5.1 trillion and that is total debt. mortgage for a home. other debt is record balance, carried at an average interest rate of 28% according to forbes. another expense stretching budgets. numbers starting to look like this when president biden and kamala harris make policy changes. >> they have gotten poorer. prices have exceeded wages by 4% based on another configuration of inflation, 5%. they cannot say that. people standard of living has declined. >> reporter: real wages are down since the biden/harris administration came into office.
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$7 trillion in spending into law but blaming republicans for the debt. >> every question you asked, there's some irony, something we are trying to fix and republicans get in the way of. every question you ask me. >> deficit spending is still deficit spending. >> i'm telling you what the president has done. $1 trillion is not a small number, in a legislation to deal with the deficit. ashley: federal debt is $35 trillion, now americans carrying a record amount of credit card debt. ashley: you are getting under the skin of the administration at least kj the. now listen to what senator blumenthal had to say about the upcoming report on the trump assassination attempt.
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>> the american people will be shocked, astonished, and appalled, by what we will report to them about the failures of the secret service in this assassination attempt. what they also out to be appalled and astonished by, the failure of homeland security to be more forthcoming. to be as candid and frank as it should be in terms of providing information. ashley: thanks for being here. you are on the task force investigation of an assassination attempt on donald trump, what can you tell us about this report? >> first meeting with the secret service, listen to them
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at a classified setting, the good part is i agree with the senator that homeland security, the secret service folks accepted responsibility, to work through the system failures they had that day to make sure they don't have operational failures. that's a good start in the right direction. they are in a no fail job. ashley: exactly right. to the next topic, you are leading a bipartisan push to get the department of homeland security to act on organized retail theft. what do you want done? >> in my time as a prosecutor before i got to congress, people not just stealing food or quality of their own life,
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just the other night in downtown dc, throughout the country, they have a sales first, if we get organized, to show these are going to gather after they steal it and helping fund terrorist organizations, not just normal old time theft we used to think of. this is very organized, a major problem for small businesses. this has wreaked havoc on store owners, it's dangerous, and therefore, you let them have at its. these criminal groups are playing increment organizations.
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ashley: i want to talk about the haitian migrant situation in springfield, ohio, putting a strain on the resources, migrants are unfamiliar with traffic laws and caused multiple accidents. how do you fix it? >> secure the border first off and people who deserve asylum, letting people in in droves, it's an election year but preceding this, one of the reasons i have voted to hold secretary mayorkas in contempt, he told people not to follow the law. ashley: a difficult situation for sure. thank you for joining us. we appreciate it. covered a lot of ground.
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thank you. still ahead. new york city council passed the slavery reparations bill that will create a reparations task force. 11 other states are considering implementing reparations. new york city's police commissioner resigning after his phone was seized in a federal probe. there are four ongoing investigations involving mayor eric adams's in a circle. cb cotton will have the full report next. investment opportunities are everywhere you turn. do you charge forward? freeze in your tracks?
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ashley: it is friday the 13th but markets don't care. moving nicely higher, 300 points, the s&p up 0.5%, same story on the nasdaq. i want to look at meta. reports that the company says
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it is starting to train its article the general intelligence using public content shared by adults on facebook and instagram. stock is down 0.5% at this hour. there are at least four federal investigations involving new york -- eric adams in a circle. what is this about? >> reporter: a federal microscope continues to loom over mayor eric adams and his leadership leading some to wonder whether he and others could be distracted while trying to lead the nation's largest city. those are linked to adams, his advisers or high-ranking members as he gears up to run for reelection. and the 2021 campaign to accept
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donations from turkish nationals, and federal agents seized the stone and i pan. they were served the grand jury subpoenas. a separate federal investigation has adams on his third police commissioner in three years. the commissioner resigned after his electronic devices were seized as federal investigators are looking into allegations his brother took payoffs in exchange for police department favors. you see that familial connection. his client has been assured he was not the target of the investigation. he takes these probes seriously. >> i spent 20 years in law enforcement. the administration knows my expectations. we must follow the law.
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>> reporter: last week federal agents executed search warrants on three of atoms's high-ranking aids and what is reported to be a separate investigation into a possible bribery scheme. the attorney saying at the time the mayor and his staff are the targets of the investigation. ashley: a lot going on. thank you for that. now this. new york city council member is crystal hudson and farah lewis sponsored slavery reparations bills. lauren: their bills passed, they become effective immediately. they sponsored a pair of bills to establish a, quote, truth healing and reconciliation commission at reparations task force. it will cost $1.5 million and who will be footing the bill. and the group will study how the harms of slavery are still manifesting generations later
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and suggest remedies from compensation to memorials. according to the press release the commission would establish fact about slavery in new york city, protect persons and communities and recommend changes for government. right now, about a dozen other states are considering implementing reparations. neil: california judge blocked a school district's gender notification policy. codecs say this is a setback for parental rights. universities are issuing new rules and restrictions to prevent pro-hamas protests from overtaking campuses. jason rantz takes it all on next. (♪) (♪) (♪) (♪)
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the moment i met him i knew he was my soulmate. "soulmates." soulmate! [giggles] why do you need me? [laughs sarcastically] but then we switched to t-mobile 5g home internet. and now his attention is spent elsewhere. but i'm thinking of her the whole time. that's so much worse. why is that thing in bed with you? this is where it gets the best signal from the cell tower! i've tried everywhere else in the house! there's always a new excuse. well if we got xfinity you wouldn't have to mess around with the connection. therapy's tough, huh? -mmm. it's like a lot about me. [laughs] a home router should never be a home wrecker. oo this is a good book title. ashley: according to the new york times universities across the country tamping down anti-israel protests. some of the new rules include banning encampments and protests in certain locations.
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are these rules going to be effective or playing lipservice? >> mostly just a façade. we've seen rules imposed before and broken over the course of the last year but they are not being enforced. if you are not willing to enforce the rules you might as well not have them at all. they know they are not going to be enforced and you start to see this behavior get out of hand. yesterday the university of washington a bunch of anti-semitic protesters disruptive and canceled a board of regents meeting, storm to the area, started to shout down students and professors who were testifying about anti-semitism. i reached out to the school, they tell me nothing has been done as far as any kind of punishment associated with this behavior. if you continue to allow it it is going to continue. ashley: you don't think student
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protesters are going to be thinking twice at all, we will see more of the same. >> these are folks who believe what they are doing is heroic and would love to be martyrs by getting suspended but they are not getting suspended. this is a small group of people who are disruptive and vocal and the longer it goes on the larger the group becomes because it ends up running more people into groups. ashley: a new policy prevents teachers from making personal political displays. it is a step in the right direction. what do you say? >> it is a great direction. whether this is going to be enforced is one thing. this decision came after the union published anti-israel guides and how to bring conversation about palestine into the classroom. wondering if that was the
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direct connection to this decision but you have the union filing a grievance because they don't want to follow this. and a city like portland, you are getting a lot of parents will be sympathetic because they agree generally speaking and into the classroom. to be clear, it does not apply to anything lgbt pride related. it supporting inclusively among students. neil: ashley: why should their personal beliefs have any role to the courses they are teaching? i don't understand how that is okay. they wanted to teach the children all the skills they need. >> there is no reason to bring personal politics into this.
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if they are conservative or put anything pro-life or pro-police or pro-israel. teachers would maybe start to turn to support it. ultimately doing this because they know they are not going to run into those incidents. it will mostly be progressive politics, these are folks who proudly and have for the last several years talked about how they are indoctrinating kids, they don't view it as indoctrination but any reasonable person knows what it is. it is indoctrination. ashley: it is, indeed it is. california judge permanently blocking the unified school district's gender notification policy. it required teachers to inform parents of their child wanted to use a different name or pronoun but shouldn't have the parents have the right to know if this is happening to their child? >> they should have the right to know and they do have a right to know.
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it is teachers whether we are talking about his school level, the entry level, this is outrageous they are trying essentially to create this gap between students and their parents. there might be some kids going through gender confusion. they should have a relationship with their parents and that could bring them closer together but there's an assumption from left-wing educators that any kid they perceive to be transgender at 11 years old is going to be potentially abused if they came out as transgender. that's the basic assumption. it is wrong. parents love the kids. more than any teacher. ashley: exactly right. have to leave it there. jason rantz fighting the good fight in the pacific northwest. as always, thank you for joining us, appreciate it. looking at the markets moving higher today.
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we are up near record territory within 1% on the dow and the s&p. let's look at mode dharna. that stock is down. lauren: they were at their lowest level in four years. the reason is investors, show me what they've got. multiple rates coming in. analysts are worried that any recovery hinges on positive updates for new vaccines and new drugs beyond the covid shot but what just happened? moderna cut their spending on some of these drugs and they had $120 price target down to 60. ashley: okay, thank you for that. still ahead in the show, donald trump says he won't do another debate with kamala harris? is this a good move? steve hilton will deal with that.
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vladimir putin threatening more if the us and the uk allow ukraine to strike inside russia. doctor marc siegel on high doses of adderall linked to mental health risks. the 11:00 hour of "varney and company" is next. (woman) did i read this? did i get eggs? where are my keys? (vo) don't wait while memory and thinking issues pile up. these issues may seem like normal aging
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we've invested in our home, we've worked on it, we had a whole lot of equity just sitting there, you paid down the mortgage, invested in your home. i guess, you could say, your home owes you. if you're 62 or older and own your home, learn how you could access a portion of your home equity to give you cash. a reverse mortgage can put more money in your pocket by eliminating your monthly mortgage payments, paying off higher-interest credit cards, and covering medical costs. look, finance of america can show you how a reverse mortgage loan uses your built-up home equity to give you tax-free cash for almost anything you might need just eliminating the mortgage payment freed up a lot of cash for us i get to do what i want when i want finance of america customers talked about the counseling they got along the way so they know how a reverse mortgage works, and how their home could help pay them back when they need it the most.
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i have no more worries anymore the fact that we're still in this home, means so much. it's done everything for us that we hope it would do for us. call now to receive your free no-obligation info kit. the kit shows you how to get you the cash you need using your home's equity with a reverse mortgage. find out how your home can start taking care of you. call this number. the worry every single month to make that payment was gone our customers' homes are taking care of them. maybe, your home could do the same for you. call finance of america, the country's #1 reverse mortgage lender and get your free info kit. call this number. the challenge for her is that the she's part of an add martian americans believe fail

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