makes people cheat for the white house they just poured trillions and all the trillions of dollars has one goal is a conveyor belt of wealth that goes to the top forget about the hype of taxing and accepted all of that. rich people pay for the campaign, they're not paying the money to lose their wealth if anything barriers will be erected that makes it harder and small for medium-size business acquired the ladder and challenges established businesses. it is a very dirty despicable game, here's the sad part you must play as well. if yes government to show you the money it is a trap, remember nancy pelosi will give you a dollar in food stamps so you can spend $1.79. show yourself the money you have to start investing and you never ever stop, right liz claman. liz: i need that money raining down on your graphic. >> all grab a few for you. liz: please do, thank you.

we need to get to the breaking news fox business has just learned that there may be some limit in the standoff between the union representing thousands of port workers and management in nine hours from now 37 ports from maine to texas could shudder for the first time since 1977 the union representing 47000 to load and unload massive shipping containers at the east coast in gulfport could strike at midnight that's with the current labor contract with the maritime alliance that represents the shippers but sources telling fox business the u.s. maritime alliance has made a counter offer to the international longshoremen's association no word on the details or what the longshoremen think of this british strike of the magnitude could slam the economy 14 of the biggest parts involved account for more than half of the nations container trades, coming up in this hour

as the clock winds down with both sides of the standoff although maybe a little slice of light at the end of the port former congress secretary wilbur ross joins us live on what could save the day and bring the two sides together that is a fox business exclusive. to the market on the last day of the month in the third quarter dow jones industrial saturated 18 points, the s&p getting clipped by 12 points nasdaq losing 48 in the russell is down 47 these were better until jerome powell gave his speech since they slashed interest rates by half 8% on september 18 the fed chair one today that the historic 50 basis point cut were not an indication of what lies ahead in fact the fed is not in a hurry to cut rates quickly. a little bit of disappointment for the market, the labor market is still solid it is really

cool, markets took a leg down on the comments is powell sounded the alarm on labor and could the weakening be worsening we are getting four major windows into that, they will open this week when we get august jolts that the job opening and labor turnovers september adc and private number and thursday's jobless claims in friday the big kahuna the labor department september jobs report, if one of these comes in worse than expected particularly the friday number that could affect the size of the fed's next interest-rate cut and in turn could affect the market, joining me now northwestern mutual chief investment officer brent shooting in huntington private bank director of investment management chad, before we get to what we don't know yet let's get to what we know stocks look to defy the september worry works for the month everybody is in the green by a fraction but september has a horrific

reputation what you make of that? >> chair powell saved the day as the federal reserve and most people mentioned now there will be a soft landing because fed is cutting rated any disappointment as you mentioned today bring that back but that's where september was saying based upon the belief that the soft landing will occur because the fed is actually cutting rates which i remind you they have cut rates for the last recession that we still have them were not out of the woods but step in the right direction hoping for a soft landing which we will see is the jobs report coming up that supports the notion were not. >> would you be somebody who waits to see these numbers this week on employment or would you continue to ladder into stocks right now. >> we would be in the camp of laddering into stocks, employment numbers are one factor and we have a lot of things going on around the world and if your long-term investor

is 60 - 40 portfolio you can lay into these names at reasonable prices in today's action could be the end of the month and the end of the quarter and look to trim and add positions here. >> and looking for the quarter to date numbers, the dow is up 7% is that right in the nasdaq up 2%, the russell has been pretty good for the quarter up 8% what are you buying if these numbers look pretty healthy for the quarter and for the month of september not to mention we continue to see month after month with a few spring golden that are in the red but in the green do get concerned that it is time to put teflon around the portfolio. >> we are a bit concerned about the soft landing and how optimistic investors are in a coin toss whether or not we have

one. the irony is probably the labor market has weakened him people have increased her soft landing which historically the labor market is the last thing to go before recession were a bit more conservatively like bonds but oddly enough we like slow and mid-cap because we believe the price for a recession and therefore the downside may be more limited and if we don't was see what happens in the month of september where you mentioned those names doing better the russell did better than the nasdaq because rates are going lower and i was supposed there pulled off in the other guest comments in the long-term we think small and mid-cap stocks are where investors have the best upside potential in the coming years. liz: probably they haven't seen the incredible run-up that the s&p in the nasdaq have had it's not just powell although powell seemed to be the most modulated in his tone austan goolsbee of

the chicago fed coming out saying he sees cautionary indicators on the job market there will be a lot of rate cuts he said, the fed cannot wait for the job market to weaken before acting, he is open bostic at least rafael bostic of the atlanta fed says is up into another 50 basis point rate cut if the labor market shows unexpected weakness, that said what are you buying? >> interesting, the way we've been looking at it at discussing with the huntington team we've been focusing on the broadening out and a lot of the focus over the last 12 - 18 months has been the magnificent seven names and if we get into the earnings story were getting into q3 earnings susan quickly there are companies in the broadening idea that you can participate in, if you want to look at some of the tech names that are not magnificent seven you have an

arrested network digital reality where you can operate in technology and real estate at the same time and get a good dividend, there are opportunities out there, you have to look for what we like to look for and that is quality balance sheet quality companies with a competitive advantage and we think the earnings will come through with a lot of the companies i'm not hearing you talk about china don't fight the fed in china you would've either fed with a central banker the peoples bank of china in which basically made it very clear started a week ago that they will add stimulus to jump up the economy, jd.com we could cycle through these, billy billy had an incredible week up 35% is quite unbelievable dipping your toes in all and brent in anything that is foreign like

china? >> we like international stocks and we've been concerned about emerging markets most like in the u.s. with the stimulus does of the rate cutting does is it too late investor should continue to own international stocks and we think a better way would be for the development of which is europe which gives a better balance if not also, that is a year that we focus on more and develop markets of emerging so we have some exposure with india, mexico and other places. >> you saw this engine up 10% overnight will see if that happens, brent, chad, thank you so much. time is running out to avert a massive port strike that could result in major supply chain disruption and we know what that does it makes prices go up trucker scramble to move billions of dollars of goods off the docks ahead of the midnight

deadline wilbur ross former commerce secretary under donald trump is here next to talk about the impact of the potential strike by the largest longshoreman's union in north america. maybe he will have possible solutions. "the claman countdown" is coming right back dow jones industrials down 197 points, stay with us ♪ ♪ with the money i saved i thought i'd get a wax figure of myself. cool right? look at this craftmanship. i mean they even got my nostrils right. it's just nice to know that years after i'm gone this guy will be standing the test of ti... he's melting! oh jeez... nooo... oh gaa... only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪

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him. >> fox business alert the first strike on the eastern gulf coast and 47 years is now eight hours and 46 minutes away unless the two sides can reach a deal before midnight let's take a look at the port of baltimore, one of the eastern ports were

47000 workers could walk off the job as early as midnight the international longshoremen's association is demanding more from pay raises a job protection and according to j.p. morgan analyst if they don't get what they want the strike could cost 3.8 and $4.5 billion per day joining is now in a fox business exclusive under president trump wilbur ross. great to have you on the show we would love your thoughts were almost at the 11th hour this is the breaking news the talks are broken off in june sources are telling fbn that the maritime alliance has made a counter offer to the longshoreman how important would you say they would resume talks and interrupting the supply chain. we in fact more than we expert,

that is committed in the lot going out, the second reason is important that there are undoubtedly going to go for a very highly inflationary wage package just as most of the big industrial contracts, it's going to feedback directly into inflation it has a short-term consequence of supply-chain and the longer-term vetting to inflation. liz: am i hearing you blame the longshoreman if they get what they like, was put on the screen with her asking for and they get $39 per hour, they're asking for a guaranteed 5-dollar per hour raise for each of the next years

of a contract i would guess that would mean 2030 they would be making $69 per hour in the west kirsch sherman with 32% pay increase with the contract and they have a one-time covid bonus, why shouldn't the east coast guys get something similar to what the west coast was able to negotiate. >> five dollars an hour increase is highly inflationary and especially when you have clocked in for six years compared with the three years that are most labor contracts they inflationary effect of this contract is twice as long for the normal industrial contract. liz: is there way fewer commerce secretary and advising the president to negotiate or at least help both sides come

together, what would be the way to get compromise going here. >> in the situation the fact that president biden has consistently come in and intervene on the side of labor makes it very, very difficult to negotiate with them, i was frankly a little bit surprised that he didn't invoke the provision in order to prevent the strike, he may have still before we get everything said in done, i think when you start taking sides then what should be private commercial negotiations you're heading down a slippery slope. >> obviously you were commerce secretary in 2021 obviously dealing with the aftereffects of

covid in all of that and if you think about the inflation that was spurred by the supply chain disruption against all odds do you think that we see something like that again if the port workers who do have extreme power because they do handle more than 50% of the goods coming in and out of this country do you think that could happen that kind of inflation. >> the request that they have on the table right now is four times the rate of inflation that the federal reserve is targeting, four times and if it's even higher than that then one of the implications for the

trucking industry and what are the implications for the railroad industry and what are the implications for the young prices that will be charged in the stores and christmas time what will be the implications for the automotive industry, shipping inbound shipping at the ports and even outbound effexor whole economy and it does so in the direct way and also does so in a symbolic way these are very high pay rates to begin with let alone what they would become after you login six years of very big increase. >> let me play devils advocate for a moment the longshoreman would argue that the shippers have come out very wealthy through thick and thin they have been able to charge higher rates during a time for example during covid in the lockdown of

postcode lockdown they got a lot of money because they can argue everything is just completely tingle, shouldn't the longshoreman be able to increase when it comes to those kinds of things is not an easy job to do it's physically very taxing. >> i used to be in the shipping industry myself so i'm very directly familiar with it. it's a great misstatement to say that shipping is inherently a high profit margin business, it is very cyclical business in a very difficult business so the factoring in particular. say covid the shippers benefited nor have they invented what the

houthis are doing in the red sea and what their doing to disrupt commerce there about which biden has also really done nothing a barrel of the ultimate cost shipping is a lot more complicated than the other shipowners that are making money, they put hundreds and hundreds of millions of dollars the union shouldn't get a fair share they should but the question is and they're happy

with $39 and the old contract isn't really necessary to increase that by more than 10% a year for the next five years in fact the next six years in the two logically together, the top is a compromise before midnight tonight, that is when they will be able to authorize, go on strike, they seem to be supportive of a strike if they don't at least get back to the table with something that they think is fair, thank you so much we appreciate your perspective. >> thank you very much it's good to be on with you our ports operate the fewest hours of any and all reports and there's other ways that they can get more compensation if we did away with the fed vetting.

liz: let's get you in there to have a conversation maybe, thank you it's good to see you. commerce secretary under donald trump. the maker of jeeps in ram trucks involved in this low-speed market collision at this hour we're going to tell you why stellantis investors are slamming the brakes on the stock, fox news reports, israel has notified the u.s. of ground operation of lebanon could begin within hours, we are hearing it's begun what is happening on the ground at the border were about to get you an up-to-the-minute live report from mike tobin who is right there. that when we come back

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liz: from the middle east we have the breaking news associated press quoting at this hour saying israeli commandos have begun small targeted raids into southern lebanon was a senior u.s. official told fox news that a larger incursion is eminent what you see on the screen is brand-new video as the israeli defense forces from a 180th brigade conducting training near the northern border as they were preparing for the next phase of combat a major escalation in the nearly

1-year-old war between america's top ally in the middle east and regional terrorist organizations backed by iran the idf is delivering blows to hezbollah infrastructure, has a lot of course is iran militia group and robin on, here you're looking idf fighter jets today destroying the terror group surface-to-air missile launcher storage facility which is what an accolade or the way from lebanon to international airport in beirut today's operation follow this week and successful attack which killed hezbollah leader ahsan nasrallah in the last ten days they have killed him in six of his top commanders hezbollah's acting leader bowing to keep the battle against israel alive here with breaking news on the expanding hostilities in the middle east fox news mike tobin who is south of the lebanese border in haifa israel. >> throughout the evening we

heard the fighter jets overhead as well as the drones from time to time new developments we've been getting you met the reports with the lebanese towns add been receiving artillery fire and those are north of the northern tip of israel where the idf has declared a closed military zone and several of the small towns, we know that two brigades every service have been called up for duty on the northern border as well as the paratroopers with the elite 98 brigade they have been moved from combat in gaza to the lebanese border, israel's defense ministry toward the northern border with the paratroopers and told them they are the key to returning israeli residents, 60000 of them who have been forced from their homes returning peacefully to their homes in the north of israel. >> the illumination is a very important step is not the final

one we will employ all the capabilities at our disposal and if someone did not understand the capabilities and you are part of the effort. >> the assassination of the top salons of the command structure is now said to be in disarray the new acting secretary-general hezbollah said their fighters are ready to take on the israeli ground forces. >> if the israelis decide to enter by land the resisting forces are ground engagement. >> we have reports to reuters that the lebanese army has begun abandoning positions in the south of lebanon, that is not necessarily an indication of a direct conflict, the fight is with hezbollah if you remember in 2006 as the israelites came and often times the lebanese army proper would not engage them a senior u.s. official told fox news that this incursion is intended to be limited and they

will not be on the ground as long as they were in the 2006 war. >> let's hope not, stay safe, thank you very much mike tobin live in haifa israel we have the fox business alert stellantis plummeting to a 52 week low after the maker of jeep and ram trucks and fiats and maserati cut the 2024 profit forecast citing a deteriorating global industry backdrop the stock is down nearly 13% after the company warned it will burn through more cash than expected and says it's facing weakening global demand and stiff competition from china, general motors and ford are getting in the downdraft but gm at the worst point was the worst performer on the s&p it is the fifth worst performer on the s&p it's down to an hour percent and ford losing 3.5% ford losing 2.5% meanwhile u.s. listed shares of chinese ev maker nio

are jumping through percent after nio china secured a 2 billion-dollar investment from the parent company and state backed investors nio has gained 56% over the past three months boosted by the top of the show economic stimulus announced by the chinese government flip it over to cvs health up to it have presented washing journal reports that the hedge fund glenview capital management will meet with top executives of the healthcare company to propose ways to improve operations according to reports the hedge fund has established a sizable position in cvs and here's why the stock is down 21% year to date, a week ago it was a rumor now it is news private equity firm tpg has agreed to by at&t directv steak and will merge the satellite company with rival

dish at&t agreeing to sell the remaining 70% stake for roughly $7.6 billion ceiling the exit from the entertainment business, separately directv agreed to by dish from echostar for a dollar roughly 9.8 billion in debt you may remember back in 2002 the government blocked this proposed merger of directv and dish this transaction assuming it now years later passes regulatory muster because of the new competition from streaming et cetera is expected to close in the second half of 2025 at&t is up a quarter of 8% tg and you down one at 8% parent of dish down ted and half% president joe biden colleen hurricane helene a history making storm with more than 100 people dead and six states now forecast show there is more trouble tropical trouble brewing in the caribbean in the gulf of mexico carnival ceo josh

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>> fox business alert hurricane helene made landfall buckeye deadly swath of destruction across the southeastern u.s. throughout the entire weekend, the storm hit the west coast of florida as a category 4 hurricane but the path stretched 600 miles to tennessee in 106 people confirmed dead in the 10-foot storm surge but 140 mile-per-hour winds ravage the southeast region asheville north carolina appellation mountains, that town completely isolated in

the southeast to the midwest as they were to restore the power lines taken by helene. and in tampa bay the worst hurricane the city has seen in a century the storm surge their top 15 feet and floodwaters devastated homes and businesses moody's with the property damage sustained by helene will cost $34 billion interestingly so many different industries smacked on by the storm but not a major impact on a cruise line operation in florida carnival cruises only had to make one last-minute cancellation due to helene with the storm force carnival for cruise ships with another destination turn to the tampa bay port by staying out of sea as it waited for hele storms brewing somewhere in the atlantic right now let's get to

the carnival ceo josh weinstein that joins me live, you guys kind of dodged this one were looking at the other storms that are starting to brew no confirmation that they will turn into hurricanes but joyce and something called isaac and kirk are thinking about it. what does the ceo like you do know when you may have ships in the region or about to go to the region. >> thank you for having me on first i would like to say our thoughts and prayers are with everybody that got impacted by helene it is a heartbreaking and we hope for a speedy recovery for the whole region with respect to carnival corporation i hate to say it as plainly as this are assets are mobile and because of that we can stay ahead and divert and do what we need to do to make sure our guests in our crew are staying out of harm's way, you talked a little bit about what we were able to do with helene and

unfortunately that is just normal year in year out activity when it comes to hurricane season in the caribbean and we certainly don't plan for that to ease up anytime soon as a matter being vigilant and thoughtful and think about safety first. >> if the storms were growing a wrench into some plans the port workers are about to strike when you're talking about close to 40 different ports up and down the east coast in the gulf of mexico the longshoreman's union which is planning on striking a midnight unless something happens in the 11th hour they have said there are two areas they will continue to load and unload at the sports for the military and the cruise lines because they did not want to open people's longtime plans that they may have had for vacation what does that mean to a guy like you. >> it certainly means a lot to me and i appreciate that

sentiment the fact is everybody worked incredibly hard and everybody deserves a great living and deserves to take their vacation, we very much appreciate that intimate. >> we will be knowing a lot more as we get to midnight let's talk about the third-quarter results you just reported record revenue record operating profits, this is exciting time for you is that not what is driving at most it is not the usual crowd is it? >> we've been talking about this for a year end a half and it has continued execution and continued focus on demand and creation and making sure we are speaking the right way to broad segments of the market and looking for an unbelievable vacation, that is exactly what we provide and i think her team, our brand are world-class and driving that demand and frankly speaking if you've ever taken a cruise, you will know the onward

experience is always fantastic so that's never been an issue although it's a focus so it's really bit about convincing people who have never cruised before, try cruising with us and try different type of vacation in this past quarter for example 17% more new to cruise guests this year versus last year it certainly working in a help to propel us, the revenue yields were also records up 8.7% in the third-quarter, that's helping us to raise her guidance for the full year so our yields are obtained in half% year-over-year which is a great step forward. >> i would think you have 95 ships are crossed her cruise brands what kind of changes and updates are you planning to make i know that you managed to get people excited about per diem spending on the ship what are you selling and what are you adding that they will pony up beyond the actual price of the

ticket. >> we are just inundating people with choice, we want people to choose what they want to spend money on, as you are about to people in different industries saying ever since the pandemic what people are looking for is experience, if you think about it that's what a cruise is its restaurants, bars, casinos, entertainment, shore excursions, spot treatments that's what we offer to our guests and we do it very, very effectively and were constantly trying to figure out how to decrease friction in that process to make it easier to get what they want including letting them by the types of things before they get on a cruise bundling it with the ticket prices, providing and package alternatives for the bar or specialty dining, were destroying everything that we can to get people what they might want their vacation it is working b1 this morning the stock was down and we were talking in the morning meeting and i said wait until 3:00 o'clock when he comes on fox business is going to get

closer to the flatline and it is this down half 8%. thank you for coming on we have abutted baited investor audience who likes a good story like yours. >> it is you, josh weinstein fox corporation has made a donation to the red cross as hurricane helene you can help by visiting redcross.org/foxforward or scan the qr code that you would've seen on your screen. nevermind i could not see it, tell me it's right there, we're coming right back stay tuned much more ahead inch including charlie gasparino.

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liz: former president donald trump traveling to hurricane-devastated georgia today to deliver remarks and hand out supplies to victims of hurricane helene. 25 the georgia gans are among the dead. meanwhile, vice president kamala harris is on her way back to d.c. from a rally in las vegas. upon landing, she will get an updayton on post-hurricane rescue and clean-up efforts. let's bring this charlie

gasparino. charlie, wall street, concerned trump may be falling behind on the fund raising front? >> well, he is, obviously. i mean, that -- fund raising from fat cats has never been trump's strong point. it is a strong point of the democratic party elite because they both have many of the sort of top financiers in the hedge fund business and private equity from a few, like, dan loeb in hedge funds or steve schwartz nan private equity the -- steve schwarzman. people like david rubenstein, a democrat, you've had him on the air. that's what he's hitting up. if two ways to look at this, one way and i don't think this is the reason or, but one way is that they're getting uber-confident that she's going to be president, so they're throwing all the money they can at her to influence her economic policy once she becomes president, kamala harris. the other thing, and i think this is more likely, is that the race is so close that -- and it

looks like trump is starting to make some headway in some of these battleground states, particularly pennsylvania if you look at the polls lately, that the democratic party elite is panicking a little bit. if trump does get in there, let's be real clear here, he's not going to be a friend of, of silicon valley. as a matter of fact, you know, he's not -- you know, who knows? he may push to get rid of section 230 toof the communications act which is their safe hard bar -- or harbor from libel in social media. he might break up google, even more is than the biden-harris administration's looking to do that. private equity, he might look to get rid of their tax exemption, the carried interest thing. carried interest exemption. i mean, these all thing things that are on the table if donald trump gets elected. he is not a friend of either of those place, and if he gets in there, i mean, think about this, the last time trump ran the show in 2016, he did have a lot of

sort of moderate wall street guys in the sort of cabinet. he had gary cohn, you know, former goldman sachs, he had steve mnuchin, longtime wall street -- liz: and hollywood -- >> yeah, well, his wife -- liz: he was a huge movie producer. yeah -- >> yeah, but he made his bones on wall street. you wouldn't put mnuchin in there with, like, bob iger or manager like that. be that as it may, he had very establishment people in various roles. i don't know if that's what's going to happen this time. j.d. vance is very populist. his treasury secretary could be, i don't know, john paulson, you know? again, not exactly -- i mean, he's a hedge fund guy, but he's a populist republican. i mean, he's talking about, you know, tariffs. john paulson, i think he was on your air and -- liz: yeah. >> the need to use tariffs as a weapon in trade negotiation.

so what a we're talking about here is a much more populist gop that a big business is not going to be able to sway this time around. they're going to cut back on immigration which big business loves immigration because they think it increases productivity and pulls inflation down. i mean, go issue by issue. so you've seen a degree of panic, i think, and they're throwing money at it. i mean, he is really close in michigan as well right now. she has till not been able to get above 50, kamala harris, despite a very good debate performance. it's fascinating. and that's why i think you're seeing the money flow in. liz: it is fascinating, so close, this whole time. >> so close, yet so far. by the way, that sounds like a cliche that kamala harris might if say. [laughter] i'm unburdened by cliches right now. if. liz: charlie, thank you very much9. make sure to the catch forbes business coverage -- fox business coverage of the vice

presidential debate. look at the dow, everything turned green. we've got the dow jones industrials up 19 points, the s&p up 25, the nasdaq up 70. punching into the green here. any gain for the dow is a record close, the s&p needs 7 points for a record close. it's the up 24, so hello, we're about to see two records. chinese stocks have been very much propping up part of the u.s. stock market because, of course, as we told you at the top of the show, chinese government has been really adding a lot of stimulus. if you look at the crane shares, csi china internet kweb, it's up 27%. and let's just get to it, eddie ghabour, for the first time in a long time, you're going long chinese -- well, you're going long emerging markets to get expose writer to chinese stocks. why? >> they're putting a bazooka of liquidity, and it's really a liquidity story. just like we don't fight the fed

domestically, i don't think you can fight this. they are committed to put a backstop to risk assets by committing all of this money into their system. and so when you look at it, it's been a while since you've been able to even look at china and other emerging markets, at least for us in our portfolio, construction. but we're not going to fight this liquidity. it's a real thing, and it's going to flow here domestically. we have our fed doing the same thing with no recession, and it's a perfect storm for a goldilocks scenario for global markets. and i think postelection, once we get that behind us, it will be off to the races for risk assets. liz: eddie, thank you. eddie's also a fan of nvidia and meta. he's been beginning -- bringing in a lot of those shares over several years. drop the confetti, history on wall street. the dow and the s&p, well, wait a minute, the s&p looks the close at a record, the dow, let's call it too close. ♪ ♪ larry: hel