tv Varney Company FOX Business September 30, 2024 9:00am-10:00am EDT
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cheryl: look at data adp wednesday claims jolts very interesting big number on friday liz what is on your mind. liz: i agree with mark jobs numbers incredibly important i am really shocked to see that people are booking in now another 50 basis point, cut in november as we keep hearing from this administration the economy is doing just fine, by the way, i am also super focused on the vice presidential debate tomorrow i think extremely interesting a close-up look at both of these guys. cheryl: senator from ohio mark is going to be there. mark: it will be interesting i hope he does well eats tim walz's lunch for him. >> all right. mark tepper liz peek thank you for being with me kicking off last trading day for september last of the quarter veteran veteran take it away. >> good morning.
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the sun is up the devastation left by helene can be clearly seen asheville north carolina very hard-hit the sheriff, around asheville on sun as many as 1,000 unaccounted for now questions about insurance, what damage is covered what help can federal government deliver, is it affecting campaign kamala harris back to washington, d.c., for briefing from the federal merge management administration fema donald trump surveyed in valdosta, georgia will hold a press conference this afternoon. over the weekend, harsis took in 55 million dollars, from west coast fund-raising tour vice president tim walz booed at michigan minnesota football game trump was cheered at the alabama georgia game chants of four more years to markets fairly quiet this monday morning we got red on screen dow industrials down maybe 90
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points opening bell nasdaq down 53 bitcoin down, 62000 gone back up 64,000 dollars a coin, interest rates are firming 10-year treasury 3.78% slightly higher 2 year 3.63% mayor, oil 68 dollars a barrel this morning no change for the price of gas main down one cent 3.21 same diesel down slightly, 3.56 gold is still shy of 2700 an ounce 2660 right now on the show looming port strike coastal as political threat to the president, he revisors to intervene setting stage for shortages and inflation, prounion. doing nothing while supply chain a threaten unions fight automation iran proxies pounded by israel, iran
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vulnerable, ayatollah khomeini reportedly worried about personal safety president biden urging restraint from israel, tomorrow vice presidential dean, over a month to election a lot going on we cover it for you monday, september 30, 2024 "varney & co." about to begin. . ♪ . >> four more years four more years four more years -- >> usa, usa, usa. begin usa usa, usa, usa, usa
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usa, usa, usa, usa usa, usa, usa, usa. [crowd boos] crymac that is hard to get out of here you plan michigan beat minnesota 27 - 24 donald trump, from the rest out onto the deep south on saturday for the alabama georgia game, the crowd cheered for him either way alabama beat when the receptionist returns with
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politically interest in the reception for walz michigan was interesting it is a dicey state for the top five interesting young people get out, registered to vote go vote on congressman tom emmer has been helping jb van prepare for the debate, listen to what he had to say that he quit because great job, yes issues on his side, he could talk about the economy optics inheres in fighting broke can talk about the border in denver and he could talk about peace and stability around the world and what they understand he's going to the fleck to hold him accountable me when charlie joined, what you expect for tomorrow night, lay it out. >> ft people that are kind of
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low-key boring guys who are sober and sober minded and you have a very interesting debate, donald trump is very good at getting media attention is one of the things that allowed him to be very successful. the problem is that overshadows a factor some people that is really right and has good policies on all the issues, i think katie vance will do a remarkable job of prefix representing those silver good ideas to people and i think under? with the situation to defend a lot of stuff in particular by data administration and from things that kamala harris said over the course of her career that is indefensible i think it would be an interesting position, jd vance because he is a smart guy he is a sharp debater, i think it will give us an opportunity for these guys to
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focus on issues below must think about that kamala harris, she conducted optics and into avoid another workaholic, brought. >> latina small businesses are the fastest growing in the country. included in that we don't lack for people who have ambition and have aspirations entering cadiz a great idea and work ethic. not everybody has access to the capital. i believe strongly are small businesses are the backbone of america's economy when we grow in strength as small businesses we all benefit. >> i needed interpret what you like to tell me exactly what she was saying.
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>> you have the wrong guy i have no idea what she's talking about, remember this to mexico she was the most unpopular vice president in the history of poland today she is on par in a position to win a presidential election. that does not have to cite self and it did not happen with interviews like because the media spent hundreds of millions of dollars in free advertising tried to promote her skin popping up and be another desmet candidate. american voters have cs detectors they look at that live at all the other things from a middle-class family insert answer to everything her inability to enter about the economy, inflation, about the borden and wars set of spark because of the policies of this administration they secret i think all of the attention
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and the east coast quartet is going to be affected by this guy can build, it is mind blowing. with the biggest imports, the most containers are coming from walmart leases like walmart. we are going to see jeff buffett inflation as a result of this. >> the supply chain is awake when they interrupted president vyvanse for getting the supply chain working to get priority, it's going to be interrupted for mike it's going to be interrupted and there is this path that he could initiate but he's not going to because if he does enforces the dockworkers to work he rolled already said if they try to he will request that they slow down the work and they will lose the union vote. that is not for you happen in the supply-chain is a bottleneck
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supply-chain. stuart: sorry to keep it short but that was good stuff. thank you very much i gotta get to the latest hurricane elite i generally rescue efforts are underway, hundreds have died and millions without power all give us the backward enter back background. >> and unfolding rating by floodwaters jiminy rocket north carolina wiped off the map, those are probably some of the rain triggered mudslides in some areas and interstate 40 washed out that makes it easier to get places and get in by vote or canoe or electing supplies because the roads have been torn apart like asheville, that is a mountaintop it is not near the water to million are without power across the five state and thousands of people are in the shelters, infrastructure like water treatment facilities are damaged, there are long lines at the food stores please join "fox
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weather" with support for recovery efforts visit redcross.org/clocks forward or you scan the qr code that you can see on the bottom right hand of your street we went just wait until you see your video out of asheville. we will see it. trump vowing to tackle border failures on day one if you selected. >> on day one of my new administration i will stop at a migrant flight for a country, i will into cash in relation referred remain in mexico, i will bring back title 42. stuart: kenny duvall about we will ask vp chris, he is on the shall when his economic plans focuses on all businesses. >> my passion, one of them small businesses, i love are small businesses. my plan is to give a $50000 tax deduction to start up small businesses.
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82603b100 spivak not happening at this point fed chair powell will deliver the first remarks on the economy since he cut interest rates, edward lawrence at the white house the economy remains a top issue, what can we expect from powell today spivak is likely to defend the 50 basis point rate cut while also warding about the
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weakness and softness in the labor market that they're looking at the fed chairman will also have to address the feds rate of inflation the overall coming down but core inflation s actually going up, the september jobs report comes out on friday that will be a big one a key indicator of how weakness of the labor market might unfold by the vet under president and vice president convince americans otherwise. >> train three are so proud to have the greatest job record of any presidential term 16 million jobs, 800,000 manufacturing jobs and over 300,000 women and men of manufacturing. >> the fact checking the administration back with the job cost of the pandemic it only created 6.5 million jobs for manufacturing and added back all the jobs lost in the pandemic and created 147,000 jobs, that number going backwards recently manufacturing the last jobs report for august lost 24000 jobs at month threatening
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inflation and also the jobs as a looming strikes tomorrow. spit. >> i don't think they're paying close attention. if we want to continue to tame inflation and if we don't want to see supply chain disruption like this country has not seen since the early days of the pandemic the president has to get involved in the strike. >> robert patterson told me that this weekend senior administration officials got the unions together and urge them to make a fair deal. the president will not stop a strike. i could tell you behind me if you see the folks market and that the u.s. olympic and u.s. paralympic team at the white house for every section on china reception internet connection speed when we were expecting the leaf blower. we will see you soon, snowblower, that is coming up.
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kamala harris essential help small business with her latest 82 page economic proposal. the wall street journal editorial claims her plan is by dynamics to, the chair of the powerful house ways and means committee jason smith joins me now, harris says she's going to help small business. a $50000 tax-free loans. >> it is a distraction, look at her words interactions, both of them she voted against the trump tax cuts in 2017 which cut small business tax rate by 20 percentage points, she called for repealing the trump tax cap with the result in every small business pain 43.4% tax rate when right now were at 23%, she is using this as a distraction as new startup small businesses but in reality if you listen to her words and look at her actions she is not for small
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business we went all votes in appealing to small business when you're a democrat. i would not think both are there. >> i would think if you don't care and concentrate on small businesses you don't care about the economy, small business are the economic engine of our economy. we need to make sure the policy set out for small businesses are the policy that help them grow and innovate and to invest. when they faced inflation of over 20% under her watch of the last three years, the last thing they need is another 20% tax increase speed one what small business wants is the engine for small business to thrive and move ahead, the other that countryside is donald trump he gets no tax on to and no tax and social security benefit no tax on overtime a limit of 10% on credit card interest, that sounds a little bit like vote buying you will no doubt reject that but it looks like that to
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me. >> next year is what i refer to as a super bowl of tax $4.6 trillion worth of tax expiration at the end of 2025 so i set up ten tax teams repented 19 states over 100 different meetings with stakeholders site visits to look at the entire tax code does not the provision that are expiring with the trump tax cuts this is a once-in-a-lifetime opportunity to help clean up the code and make sure it's a pro-growth pro america tax. >> you have not responded to know tax on tips or social security benefits no tax on overtime et cetera. >> the no tax on tips is something very doable in the republican party platform, vice president harris supports it but she did after president trump. >> notre unchained tax and social security benefits spit. >> i'm glad you're having the conversation i know tax or social security benefits the
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provision of this act unchained tax cuts has stayed constant since 1980. there's been a lot of inflation since 1980 it was 25000 for one person, 32000 for a married couple days their marriage penalty there is think that congress can do to make that right but how many things have stayed the same since 1980 when inflation has gone up 20 percentage points in the last three years these are all things were going to look at, of course we have to have the discussions of how do we pay for them how do we make sure we have a fiscally sound budget that's what were in the process of working on right now is p1 thank you for taking time out to be with us in newark. democrat congresswoman alicia slotkin issued a warning about kamala harris popularity in michigan. >> axioms is reporting the congresswoman told donors i'm not feeling my best about where we are on kamala harris in a place like michigan, we have are
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underwater and are pulling. slotkin is also running for senate she is in a tight race with republican mike rogers she is referencing the internal polling that she has as a result of that race and republican has not won a michigan senate seat in three decades. >> can the democrats win the vote in michigan. >> that is the key question. >> thank you, a quick check of features, monday morning you want to see how your monday is doing it is the last trading day of the quarter that is coming up. working to take you to wall street. mocha and tran on trenton
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it's going to be bad for consumers is technically inflationary input speed when i'm concerned about fruits and vegetables because we get a lot of supply coming in. i could see the grocery store running short, the supply chain. >> not only food and vegetables which were going to see but medical supplies, simple drugs, anything to do with band-aids, children supplies those are all things that we've gone from a just-in-time delivery so we needed just in case it's a very different they give that should be here post carbon is primitive the president doing the right thing by not intervening. >> that's hard to say i don't know the details but it would seem to me that any sitting president has a vested interest to make sure this does not happen. >> you're watching two reports, nike and constellation brands, what is important with nike. >> nike is a long wanted name
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they got away from motivation to became deke will they lost the position with amateur runners can the company regain the mojo i don't think you can because industry is fragmenting that's what i'm going to watch for is a new ceo going to turn this around and is it worth my money speed when what about constellation that is a liquor company not constellation energy but the liquor company. >> this is really interesting they made investments in nonalcoholic drink segment that is taken on worldwide and watch out very carefully it could breathe new life into the entire segment, very interested if they can pull that out. >> are we retreating from alcohol around the world. >> i think there is a move but definitely split between first year on 15 stop drinking smoking in there used to be a connection between economic conditions and we call those the buy stocks but now that seems to be breaking the speed entered. >> good to see you, have a great week now the market is open the
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dow started with a small loss down 50 points in the early going 40 or 70 points. an even split among the dow 30, winners and losers green and red off to a divided start, the s&p 500 on the downside but not by much down point to 1% and the nasdaq composite that is not percentage wise a quarter of 1%, 18074, a look at big tech we are reliable every morning at 930 when the market opens you get big tech apple up $3 reaching $230 a share the alphabet and meta and microsoft and amazon are all down to get to the port strike is looming. taylor briggs with me how is the retail bracing for a potential strike. >> for now okay in the short term most companies will be okay the long run applications that we are prepared for we heard as
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of last friday for the week the cargo ship had did something like $14 billion because it takes a day for you to clear out the inventory in the port. if you did not get your stuff and by friday you will miss and lose out on the strike and you have retailers trying to figure out how to get from the just-in-time inventory to longer the biggest companies that we have walmart ikea, samsung, dollar general, home depot those are the companies that are really impacted by the strike speed when china stocks are dolling but i want to start with china's leading chipmaker technologies. it is down right now off 1.7%, the chipmaker in general i see and entering and video down $2. >> china comments overnight say they want more of the a.i. chips to go to their domestic companies like cap recon technology that you mention and try not to use nvidia chips
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that's why that domestic chipmaker sword overnight to a record of 20%. >> until i $23 a share down a tiny fraction how about ford and general motors. >> this is a china story as mother highlighting still lantus who is the maker of jeep huge competition coming from china really under pressure cutting the guidance on the full year that is impacting other carmakers like ford and gm preparing for stiff competition to come. >> any developments in crypto i don't see that much price move. >> we are near records on the equity market although the crypto stocks track their risk on risk off trade in a particular breather bitcoin you see that as well with the crypto related stocks there was a new poll showing crypto voters are split between harris and trump. >> i see the dow is open with a loss of 200 points working to find out which dow stocks are creating the big loss.
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in the meantime look at the supermicro computer it is down 50 cents, what is the news on the stock split. >> 1041, usually have a huge run-up into stock split but this is a different story for the company through last august there down 30% since then and the big short sell the report that delayed reporting of their financials this is stock that is not winning into the stock split. >> at&t has agreed to sell 70% of the stake in directv, so what. >> they get about $7.6 billion in cash payments through 2029 that is good for at&t when you think about paying off debt for good news and freeze up directv to bicycling tv and dish tv that is a deal that they have been trying to do for a while. >> one of the big stories of the day, that is china stocks they started out early this morning and it goes straight up i guess that's a result of the stimulus
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program which i did get them on the screen but the going up today. >> massive stimulus overnight i want to give you size, scope and data shanghai up 8% the best day since lehman brothers collapsed in 2008, chinese stocks have had the best run since december of 1996, when china comes out as were cutting rates and sending out the big bazooka everything has been rallying, this is been a huge story in the last five days. >> jd.com is up 5% and by due up 3.7 there is a solid gain, check out the big board let's give you the big picture for a moment the dow has opened in the first five minutes with the business were down one third of 1% off a hundred and 52 points the dow winners are quite a few topping the list is apple which is up $4 nearly 2% on apple figure out the news on that disney,
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walmart, verizon, coca-cola all of them up not by a full percentage point but their outcome s&p 500, costco let me see costco $906 a share up $20 that is up 2% in the nasdaq winner headed there, the china stock of course strong ground for men, palo alto, cyber security company up 5.1.6% the ten year treasury has been going up this morning 3.76% the price of gold still shy of $2700 an ounce 2659 bitcoin moved up to 64000 but it's down a bit and 64000 the price of oil last time 67 it is still there 67 nat gas about $2, almost $3, 291 the average price per gallon of regular 321 i was paying 299 in new jersey over the weekend,
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california 469 for regular on average, coming up harris and walt have been avoiding the press and abc panelist saying it's for good reason. >> why are they keeping them locked up in terms of dealing with the press on a daily basis. >> interviews are not a great format for her she's not of effective on tv and they recognize that speed when the basement strategy is it really more effective, joe conch on that a little later, senator tom cotton claims it's obvious why iran wants harris to win the presidency. >> to give it away tens of billions of dollars in sanctions relief they look the other way as i ran violates sanctions that's why kamala harris is a hand-picked candidate. >> strong staff is here is equipped to deal with adversaries nato ambassador kurt volker will join us shortly by then declaring the u.s. is taking every precaution to prevent an all-out work, watch this.
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we nasdaq turned up 30 points, up almost 200, goldman sachs, boeing, there are three down stocks down sharply and shave it a hundred points out the dow industrials. take a look at this hundreds of israeli tanks lined up on the lebanon border the idf appears to be preparing for a ground invasion of lebanon, nate for a joint us in tel aviv, when is a ground invasion likely to start.
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>> israel is surging the resources to the north and the defense minister hinted that it may be coming soon and telling troops what it looks like remains to be seen but there are reports to israel and 30 sending special units into lebanon to gather some intelligence ahead of a possible incursion into lebanese territory. moments ago prime minister benjamin got yahoo spoke directly to the iranian people and he blamed the iranian regime for their suffering and he talked about peace coming soon to the middle east, listen here. >> iran's tyrants don't care about your future but you do. when iran is finally free in that moment will come a lot sooner than people think, everything will be different. he told troops that the next part of israel's plan may include them going into southern lebanon, has put us up this morning that they are ready for that, israeli airstrikes
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continue taken on terrorist for several organizations they killed three palestinian militants in central beirut and the head of hamas and lebanon in a separate strike israel sent a clear message to iran yesterday striking yemen's port city, this is retaliation after yemen to the rebels filed two missiles both of them at tel aviv last week the strike in yemen with the same distance from israel as he ran, take a look at the next video the parliament met over the weekend they chanted death to israel. iran is helping hezbollah select new leadership after israel took out in 20 of a terrorist event strike on friday, the two major questions remaining are what will israel's ground offensive look like if it actually comes in what will iran's response be after the assassination the america question, president biden morning against an all-out war in the middle east, watch.
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>> an all-out war in the middle east be avoided. >> it has to be it really has to be avoided we brady taken precautions relative to embassies and personnel and were not there yet but were working like hell with many others. >> christian whiton joins me now iran is vulnerable their losing ground why don't we apply pressure on them, why do we apply pressure on israel to go easy on them. >> were working like hell with the french, you're exactly ri right, think about the time throughout history we wanted our allies to do more and they disappointed, the iraq war the vietnam here incidentally the war is on the other guy started it in our ally israel is doing incredible things that we don't have the capability to do, do we have the capability to locate the head of hezbollah and hamas and killed them an airstrike
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into all of these things there was a survivor guy from hezbollah in the 1983 killing of 242 u.s. marines that the israelis got, why didn't we get him we should be grateful and encouraging israel to win rather than say de-escalate and save us go back to losing speed when de-escalation or a cease-fire doesn't that mean israel's enemies have time to prepare for fresh assault israel has the advantage why don't we let them take it. >> press on the point right now the cease-fire means not peace you go back to the situation of the last hundred days where hezbollah has shot at israel into the north and where hamas advocates we've seen in gaza has constituted a four seater plan on october 7 which is worse on a per capita basis then 9/11 that's what a cease-fire means it's like throwing a lifeline to iran of hezbollah and hamas. >> thank you for being with us as developments appear to be a
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minute in the middle east. coming up iran is america's bitter enemy after devastating military action by israel, iran is vulnerable, they are losing why is biden harris team pleading with israel to go easy on them i think it's a sad commentary on a week joe biden he is the appeasement president harris would be no different, that is my take at the top of the hour, gulfport company strike is imminent here's what biden said about intervening. >> mr. president when you intervene in a dockworker strike if they go on strike on tuesday. >> now it is collective bargaining i don't believe in it. is biden making the right call, john katzman tedious of the grocery store chain will join us and interrupting the supply chain, he is next.
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preparing to walk up the job if they don't get a deal by tonight listen to what president biden said about a potential strike. >> mr. president when you intervene in a dockworker strike if they go on strike on tuesday. >> now john katzman tidy string that the president will not intervene and we are likely to get a strike, you run the chain of grocery stores i know that's a small part of your business but you run them are you expecting shortages, fruits and vegetables for example if we get a strike. >> if there is a strike price is in the supermarkets will go up higher than ever and everything goes down the other suez canal close down, the red sea, if you have a strike on the east coast that's going to be close down, guess what prices are going to go through the roof and the question is on what president biden is 35 days or 34 days to
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the election, this is not going to be very good. >> vice president here's because she's depending on lower prices, guess what there is no price gouging prices will go higher than ever and is the president getting even with, here's an the forces that forced him not to run. >> the economy or under commerce secretary was asked about the looming port strike and i'm quoting she has not been focused on that, do you believe that the commerce secretary. >> one day away she's not focused where is this administration that is crazy, prices will go higher than ever until after the election if you have a democratic president and a democratic candidate, what is that, doesn't that mean you should put off until after the election, the one thing that
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people don't realize what nancy pelosi and may be present obama i don't know who was involved they did a coup on the united states government, this is a coup by forcing resident biden not to run, it was not voluntary he was forced not to run this is a coup on the united states of america that nobody talks about. >> i'm going to talk about something else new york city administration, mayor adams he's been charged and he literally took bribes $120,000 in perks from foreign nationals in exchange for favors, we got all of that, we know it if you think this administration is on the verge of collapse, he is not leaving he's going to fight these charges which means this a administration for the next y year. >> he does not plan to resign and he is told his friends and
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even if he's indicted he's not going to resign in is going to run for reelection that's what i've been told. >> we have this administration for another year. >> how do they say in great britain and if it's upgraded on a hotel room nobody cares but if they did receive $10 million it's going to be hard to justify. >> 's administration cannot do much his education and the police commissioner is gone and chief counsel don other people have resign that is not much of her administration you have to do business in new york city spit. >> it's good to be harder to do business either way and compared to other people that want to run in mayor adams other than the few problems that he has. it's not that serious because
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people that might come in might be much worse we don't need a socialist running new york city that is my biggest complaint in my biggest concern. >> thank you for joining us we always appreciate it, still had transected two or a devastation from hurricane helene in georgia where are biden and harris on the ground mollie hemingway on that walt is worried about disappointing harris and the dissipating advance, joe concha on the story, biden says he will intervene in the port strike is that a mistake, steve forbes response, matthew whitaker is here to react to new doubts of trumps new york city fraud verdict. the 10:00 o'clock hour is next.
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