appreciated that he was known for what they did for this nation. maria: i like that. that is a great sentiment, cheryl. i like that. and we really need to be focusing on what they do after they leave office, for sure, to continue having an impact on peel. all right, we're about 30 minutes away from the opening bell. the dow jones industrial average down19 points on this -- 119 points on the first trading a day of the fourth quarter. the s&p 500 also lower right now, but nasdaq up 10 points. final thoughts. kansas city? >> i -- chris? >> fourth quarter's still folk to be a good time to buy securities, so go buy some we can equity thes. finish if. maria: all right, thank you so much. we'll see you again tomorrow. have a great day, everybody. very any and company picks it up right now -- "varney & company." stuart: good morning, everyone. the port strike has begun. nearly 50,000 longshoremen have walked off the job.

the workers want a 77% wage hike and no more automation. this is highly contentious. just a few miles away, residents are digging out from the catastrophe known as hurricane helene. they may not be happy if their recovery is held up by dock workers who are already making six-figure incomes. president biden will not intervene. he's in danger of being seen as supporting a strike that hurts us all a. if tonight the vice presidential debate, probably the last face to face confrontation before the election. j.d. vance says he's prepared to wipe the floor with tim walz. walz is said to be nervous if, but that may be a leak from his own camp to the lower expectations. who knows? to the markets. relative calm. many in waiting mode for the important jobs report friday as right now we have the dow down about 100 to, but the nasdaq is up 10 points. no clear trend. bitcoin, $63 ,000 and change, that's where we are now. oil, $67 a barrel. 67.2211. gas, $3.20 per gallon, down a

cent. diesel, $3.57. gold, $22, 672 -- 2,6722, up $13 right now. on the show today, a dueling response to the hurricane helene. trump goes to the see the damage himself. he's trying to bring elon musk's starlink to restore communications in remote areas. kamala harris attended a fema meeting in washington d.c. she refused to answer reporters' shouted questions. president biden, well, he got testy when asked about being in d.c. and not on the ground to see helene's key station. he says he will go to north carolina soon. the israelis are pushing further into lebanon. we do not know how far they will go. biden again calls for a ceasefire. iran, till not responding. -- still not responding. and we have the latest fox power rankings. the bottom line? trump has a clear lead on the economy and immigration. if harris as that a clear lead on abortion. one more power ranking nugget for you with. trump has a strong lead when it comes the handling the wars in

the mideast and ukraine. and today the jimmy carter turns 100 to. the first president to reach this milestone the. tuesday, october 1st, 2024. "varney & company" is about to begin. ♪ ♪ if you change your mind, i'm the first in line. ♪ honey, i'm still free, take a chance on me ♪ stuart: playing a little ark bba, are we -- abba, are we? take a hasn't on me. not sure what should -- what is it, vance or walz -- lauren: or going back to trump and harris? stuart: take a chance on the candidate. okay, a bit of a stretch, i'd say. lauren: you're judging the the music if now. stuart: we do, don't we? lauren: new category for the show. superstuart we've already given a brief overview of the fox

power rankings representing the state of play in the election. harris still leading trump in the polls, trump has a clear load on the top issues. good morning, lauren. lauren: the marquee issues for voters five weeks from today when we go to vote, economy's still number one. 38% say it is the important. immigration is second, 17% say that's important. followed by abortion. trump leads on the top two. he is up 9 points on the economy, and that lead has remained steady despite the rollout of harris' economic plan. trump is up a stronger 11 points on immigration. he, too, has been consistent on the border. meanwhile, harris ahead by a wide margin on abortion, up 17 points. abortion is the third most important issue for voters. stuart: thanks, lauren. pete hegseth joins us now. trump has a solid lead on key issues. is that enough for him to win in november? >> no, but the fundamentals are there. it should be enough. what i mean is it doesn't mean he will win.

what it means is the fundamentals are good. he's playing on home terrain on issues -- she's fundamentally incapable of speaking to. we've seen how she's tried to address the economy which starts with a stem winder of her own biography p ask and then she goes to the border for 19 minutes, stuart, for a photo op which will surely show up on campaign ads, but that same day the statistics drop widely that a there are tens of thousands of criminals and rapists in our country, noncitizens who have not been deindiana thed by i.c.e. to. so i concern detained by i.c.e. the combination of this issue set of a bad candidate in kamala harris and much better early organization from the trump camp, remember, i mean, 2020 it was still kind of, hey, this vote early thing, we don't want the vote this thing. the reality is they've mobilized to register and get out lower propensity voters earlier which means you're banking votes. when the issues are with you, the candidate you're running against is not able to explain

herself and you can organize, all the fundamental ingredients are there, stuart, as you said, five weeks out. stuart: harris, again, struggled to to explain her economic plan. listen to this, pete. roll it. >> what is kind of your economic plan moving forward for people who are living paycheck to paycheck? >> so, look, i grew up -- so my for sister and i were raised by our mother. we lived for a long time on -- in an apartment on top of a childcare center. that childcare center was actually owned by a woman who lived two doors noun from us, mrs. shelton -- down from us, who was by all of our accounts and feel beings our second mother. she helped raise us. and so she was a small business owner. so i'll start with the small business with, and congratulations on what you guys have done. >> thank you. >> i, from a child, knew who our small business owners are, right in. [laughter] stuart: not quite sure i get that, pete. i think hur handlers are trying to skate her through to the

finish line without getting out of the basement, skate her through without answering serious questions. that's the game, i think, at the moment. >> it's the bubble wrap campaign. that particular if podcast is for the national basketball association, nba players. it's not as if -- they may have asked some questions, but there's no follow-up presentation on that. and she stem wound her way around her biography, and then she got to community banks which she reminded us, stuart, are in the community with a big focus and emphasis as if she feels our pain and understands the community. if economics is the number one issue which you cover every single day and whatever the white house says doesn't comport with what people are feeling, the key for the trump campaign is to tie harris to those mix feelings and force her at some level to explain if it which we know she cannot. o'shea -- they will double wrap her, right now they have a donation advantage, they've got more money to put on the airwaves, although when you watch their commercials, they look like state senate campaign

commercials. they're not that well done because they don't have anything to even go on. even that kind of artilleryly can't make up for the feeling that she's not up for the job. she can't explain it. stuart: she can't. she won't be forced to explaint either unless if trump and the republicans are break through the bubble wrap which is extremely difficult to do. pete hegseth, always a pleasure. come and see us again soon. >> thanks, stuart. store suiter back to the markets, please. it's tuesday morning, not much movement. let's bring in david nicholas. i want to talk about the port strike. it has begun. what impact on the market? >> yeah, stuart, i just want to restate a number, you said 50% of all u.s. import could be impacted, so this is pretty unbelievable. if this goes on for a few days, not a big deal. if this goes on for a month or more, this could cripple the the u.s. economy, the stock market, send shock waves throughout u.s. supply chains. so it's a big deal, stuart. we're going to have to see how this plays out.

stuart: which stocks move on this strike. >> yeah, this is a goodies 2006. there's going to be some that do wellening so retailers are the ones you're going to want to avoid. nike, 50% of all a clothing comes in through these ports. i think they're going to get hard. car makers aren't going to be able to get parts or new vehicles. but some of the shipping logistics companies like ups if and fedex, i think they do well here because i think companies are going to have to shift to start sending more shipping through air. they're going to avoid shipping through ports, so names like fedex and ups, another name, zim, it trades at one times forward. [laughter] i mean, if you're going to ache take a bet somewhere, i'd put it on a company that that's -- that's that low valued. stuart: i have to say, i can't see this strike lasting a month without the president stepping in because really we're being held hostage, and the president is sporting a union --

supporting a union which is conducting a dangerous strike. what say you? >> i've got to disagree with you. i've watched a lot of these interviews by these individuals at these ports. they are upset. how the did we get here? stuart, we got here because the money supply was increased by 30%. you had a biden administration that spent bills called the inflation if reduction act that did the opposite. you have deficit spending in the trillions of dollars. they've crushed middle class families. these families are hurting, stuart. i think they will drag this out as long as they need to to send a message. so i am concerned. i actually disagree, i think this could go on a lot longer than most people realize. stuart: we shall see. david, thanks for joining us in this morning. biden and harris are facing backlash for their response to hurricane helene. what are they saying? lauren this is hurricane politics. look, the response to natural disasters is supposed to be not political, but when five weeks before the election in two swing states, it is political.

so you're going to hear now first from president biden, he's frustrated by the reporter questions, and then you'll hear from harris and you'll see her ignore the questions. watch both. >> -- more resources in north carolina knowing what you know now, and do you -- [inaudible] here in washington rather than delaware? >> come on, will ya? it's 90 miles from here, okay? i was on the phone the whole time working on that. and the resources -- the question is not whether we get more -- if i sound frustrated, i am. [inaudible conversations] >> thank you. lauren: yeah. and donald trump called the white house's hurricane response botched. he went down to georgia, tomorrow biden goes to north carolina. again, hurricane politics right before the election. stuart: reminds you of katrina to some degree.

lauren: yeah. a lot of people are saying this is the white house's, kamala harris' katrina moment. stuart: it could be. lauren, thanks very much. walz and vance will meet for their highly anticipated debate tonight. "wall street journal" guy bill mcgurn says j.d. vance can come out on top if he makes walz own the biden legacy. he'll join us in the 10:00 hour. israeli troops have begun crossing the border into lebanon. they're again targeting hezbollah. this was biden's reaction to that. >> when i'm comfortable with them stopping. we should have a ceasefire now. stuart: a ceasefire now. now that israel's incursion has begun, how far will they go and how long will they stay? if trey yingst has more details on. that's he's next. ♪ ♪ (cheerful music) (phone ringing) [narrator] not all multi-millionaires built their wealth the same way, you have... the fearless investor. the type a cpa. the bootstrapper.

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stuart: the futures suggest a mixed opening. dow down 100, virtually no change for the s&p and the nasdaq. again, we are in waiting mode for the, of the jobs numbers coming out friday morning. israel has begun its ground incursion in southern lebanon. nate foy joining us from tel aviv. what's happening right now? how far have they gotten, nate, do we know? >> reporter: well, stuart, we actually just learned breaking in the past hour from an idf spokesman that ahead of this limited ground offensive into southern lebanon that that special israeli units had actually infiltrated southern lebanon dozens of times over the past year including through tunnels the gather intelligence and december mantle the terrorist organization -- dismantle the terrorist organization's capabilities and ability to attack israel. we are also seeing a response from hezbollah, firing near constant rockets into northern and central israel including here in tel aviv, trying, they

did, to met the mossad intelligence headquarters this morning. some but not all of those rockets were shot down. take a look at some of the damage. we know at least two people, both of them drivers, were injured by falling shrapnel. this is the second time in a week that hezbollah's targeted tel aviv, but it's the first time that their rockets got through reels' air defense. we -- israel's air defense. new video where the ground offensive is happening, stuart. take a look. israel is focused on hezbollah positions right up against the border so that the 60,000 israelis who evacuated from the north can return to their homes. israel is complementing it ground offensive by continuing to strike hezbollah's weapons capabilities while thousands of additional u.s. troops including fighter jet squadrons come to the region despite the fact that president joe biden said two daysing that that that wouldn't happen. we do know that yo avenue gal about and the secretary of defense, lloyd austin, spoke about this developing situation

with gallant expressioning israel's -- expressing israel's intent to allow those 600,000 evacuated residents to return home and countering threats from iran's proxies in the region. the houthi rebels appear if to have restarted their attacks on shipping in the red sea. sirens are continuing to blare in northern israel right now, and we also just learned that israel has mobilized an additional four reserve brigades as the ground offensive in southern rememberren nonis underway. back to you. -- lebanon is underway. stuart: can i just get some more on these tunnels that the israelis are talking about? who built those tunnels which have been occupied by israeli commandos inside lebanon? do we know? >> reporter: well, according to thish df -- the idf, the radwan unit that israel has taken out the entire command structure of over the past two weeks was planning on using those tunnels to infiltrate northern israel and commit an

attack that mirrors what we saw from hamas in the south on october 7th. you know, thankfully, there wasn't a coordination, and israel was able through intelligence and its special units to infiltrate those uns ahead of time and dis. mantle a lot of those -- dismantle those capabilities before similar harm could be inflicted on the ez cents of -- residents of israel's north. stuart: one more question, if i may, have you think idea with how long the idf will stay in lebanon? >> reporter: according to a senior u.s. official, it will be quicker than in 2006. the second lebanon if war lasted 34 days. that ended with a u.n. resolution requiring hezbollah to to operate north of the lanati river which didn't actually happen in practice which is why since october 8th when hezbollah started firing rockets on those residents in israel's north, it was such a problem. they're firing rpgs and

anti-tank the missile, if if they're beyond the river, it wouldn't be such a threat. but because that u.n. resolution was neverenforced, it is a threat. we'll see if that's the marker in that israel needs to push hezbollah north of. but to answer your question, according to the senior u.s. official, it will be quicker than 34 days. stuart: got it. nate foy from israel, thank you very much is, indeed. a quick check of futures, please. no real change here. it's a split if market mostly on the downside, dow off 100. we'll take you to wall street for the opening bell next. ♪ i've got some rust on my chevy, but it's ready to roll. ♪ i got a rhinestone sky and a song in my soul. ♪ it ain't a smooth life, it's a winding road. ♪ yeah, it might be gravel but it feels like gold ♪

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when you're in the military you're really close with your brothers and your sisters that are in the military with you. and when you get out of the military, you kind of lose that until you find a new family. we can talk about our struggles and the things that we did overseas and not everybody can do that. adam! how's it going, brother? we live pretty close to each other. so he's always coming over. when i go to jack's house, we watch a lot of football, hang out. we go outside the friendship has kind of grown into a family i was overseas on a deployment. i got separated from my marines and i got hit in the neck, and it broke my neck and paralyzed me.

14 years ago, i was on a training mission. did a military freefall, and i had some faulty equipment. i hit the ground. going, 30 to 40 knots and was instantly paralyzed. i met jack fanning when he invited us to park city, utah, through his foundation. i was able to actually get on the mountain and ski with my family, i can't put into words what that meant. i got paid in the military to do crazy fun stuff. and after my accident, i'm still that same guy. and when i was able to jump out of a perfectly good, helicopter, at 10,000 feet, i did it. i was talking to some vets last week amazing how we have these houses where they can come over because they■re in chairs too. carpet and wheelchairs don't mix very well. tunnel to towers, they got rid of all that. they redid my whole bathroom. that's probably the favorite part of my house.

i thought they were just going to do the upgrades. but the surprise to me was they paid off the entire mortgage. when they told me they're going to pay off my mortgage, i cried. please contribute $11 a month by visiting t2t.org now stuart: all right. the dow down about 1000 points at the opening bell, small loss for the s&p and for the nasdaq. 100 points. mike lee joins us this morning. let's talk port strike. if the strike continues for longer than a week, at what point -- i just want to know, at when point does the port if strike become a negative for the

market in one week? two weeks? how long does it take to be a negative for the market? >> well, look, stuart, i think if it goes on for more than a few days and it looks like there's no resolution in sight, it will have a negative effect. but as long as the market believes it's going to be to resolved in a timely fashion whether that be one week, two weeks or three weeks, i think the market will take it in stride. we just had a spectacular quarter where something like 393 out of the 500 s&p stocks were up, so there's a lot of momentum if and strength behind the equity market right now, and it's important to remember the stock market is not the economy, and the economy is not the stock market. stuart: okay, if it goes on for two weeks, which stocks take a hit? >> you know, i think you start to see a broad-based selloff in the overall market. and then you see the cyclicals, you know, so your normal consumer names, your walmarts, your targets, your amazons

because it's just going to be hard for people to get goods. that will start selling off in the whole market. stuart: okay. now let's talk about the economy. which point does the economy take a hit? one week, two weeks or a month? i presume the economy gets a real hit if it goes on for a month, right? >> yeah, look, i think within a few days it's a negative economic impact because you start to create log jams that take time to resume themselves. i mean, this is a disaster, and it's a complete hi avoidable -- completely avoidable disaster. you know, these contracts don't just pop up. they've known about this for months and, again, you have an administration if that's concerned with god only knows, not resolving things for the american people. [laughter] stuart: okay. quick question on the debate. is it -- the debate, is it important for the market tonight? >> yeah, absolutely. there has been an all-out assault in the media on j.d. vance, and universalal praise

for tim walz. and -- universal praise. and i think in real estate to tim walz, we're going to the the find out the emperor has no clothes and that there's a reason why hill belly elegy, you know, was a top movie on netflix right after j.d. vance was announced and his book resurfaced to the top of the bestseller list. i think this is a seminal moment for one of the bright stars of our country for a coming-out party tonight, so i'm really hooking forward to it. i think it's going to be a huge positive for conservatives who want this election to the go in their favor. stuart: mike lee doesn't hold back, does he in i'll raise one more issue that you've treated in the same way. last time you were on, you said that palantir was the best investment in your lifetime. best to get into it right now because you've never seen anything as good as this including nvidia. you still feel that way about palantir? >> yeah, absolutely, stuart. you know, it would have been better to buy the stock when it

was cheaper, but, you know, transformational technology stocks are, you know, they're rarely cheap, but they're never as a expensive as they appear when you simply look at forward estimates. according to bank of america, i happen to agree with this, it's the most misunderstood stock on wall street. and just one quick stat to put in your mind. a year ago they didn't have any hospital business, and now they're in charge of about 14% of all hospital bed allocation across the country. it is a transformational software that will change the world. you know, i think the stock is going much, much higher. there's one market, the erp market, that they could completely take over that's a $70 billion market. the company only does about $3.5-4 billion in revenue at the moment -- [laughter] so the upside is unbelievable for this company. stuart: we got it, mike. you love 'em. mike lee on palantir. thanks very much, mike. that was all good stuff.

come back and see us soon. taylor, you've been listening to this. you cover the market for us. what do you think of palantir? >> i have seen $45 and $50price targetses on the stock. i've heard comments from people on the street saying being included in the s&p 500 gives legitimacy to the business. this is a profitability story that is final finally intact. it really was doubted from the street for many, many years, it's a defense business, an a.i. business, and it's something at least now with that inclusion in the last few weeks really legitimizes the company going forward. stuart start is it a transformational technology that palantir's got? i don't know. >> you know, i interviewed joe lonsdale the other day, the cofounder, who's now on other companies and a entrepreneur in many other ways, and he would argue, yes, they fundamentally changed the way we think about a.i. and defense going forward. stuart: all right. we'll follow it. $37 a share. as of right now we're going to follow the market because it is about to open. away we go. the dow's going to be down

roughly 80, 90 points from the start, and that's where we are, in fact, down 77. wait for them all to open. there's more losers than winners at this moment. it's kind of split, a bifurcated market. i do want to remind you, the opening bell will ring -- i'm sorry, at 4:40 this afternoon, house speaker mike johnson's going to deliver remarks from the new york stock exchange, it'll be about the first 100-day agenda, that's 4:40, hear it right here. more losers that than winners for the dow industrials which are, indeed, down over 100 points in the early going. s&p 500, not expecting much movement there, and we don't have much movement. down .16%. same with the nasdaq, it is down .20%. have a look at big tech, please. mixed picture. meta, alphabet up. microsoft, amazon, apple down. super micro started trading today on a 10 for 1 split, is that right in. >> they did. here's the problem though, right

in this is a stock that's down 30% in the last month which i dofies all logic. -- defies all a logic. remember, they've had some problems reporting their 10k financials, the big short seller report that's come out. we'll have to see if this helps create sort of that investor enthusiasm around the company. stuart: $422 a share for -- 432 the a share right now -- 422. 50,000 dock workers are strike ising. >> some of the big retailers that have the most exposure, walmarts, home depot, lg, samsung, right? but you still want your hot wheel is the and your barbies. hasbro and mattel, according to ubs, have done a great job of stocking up toys before the 40 holiday season, so you are going to see some winners and losers. fedex and ups are seen as winners on this as you can now divert to air to avoid the ports. stuart: the whole thing depends on how long this thing goes on for. >> yes. stuart: a couple of days is one

thing, a couple of weeks is entirely different. >> correct. stuart: tesla, elon musk -- oh, he won the dismiss aal of a lawsuit. which lawsuit? >> a lawsuit that accused them of defrauding shareholders over claims they made over the fullly self-driving technology. the judge december missed the lawsuit saying plaintiffs failed to show how musk would be liable. so, again, over claims about some of the comments he made about fully self-driving technology. another win for him and tesla. stuart: tesla's stock is now $261. chinese ev stocks, they're way up this morning. well, not that much, but they're certainly all of them are higher. what's going on? >> i think, yes, some chinese stimulus, but i think this is a bigger story because this is more than just the last five days of china's fiscal bank and policy pulling out the baa zook bazooka. this is an exv market that's been on a tear. we heard from stellantis saying how much competition from china is really pressuring and hurting them. so, again, this just shows the massive enthusiasm around china

evs, and they are cheap, and you are, again, expecting some of the tesla deliveries that we'll get tomorrow. we'll have to see if this ev demand is really real and here to stay. stuart: chip maker, i've never heard of this company, they filed for an epo. i've never heard of them -- ipo. are they going to take the on nvidia? >> they want to say that they will, but it's a long shot, and there is a reason why you haven't heard of them. in the first that half of this year, they only pulled in $136 million in sales. the bottom line, they lost $67 million. so they're not profitable. the losses are widening, and year-over-year sales jumped, you know, maybe 10 100%, but still with only $167 million in the first half of the year, tiny compared to nvidia. hey, look, this shows that the public markets are open, that a.i. chip makers see there's appetite and they want to be the company next in line. stuart: i can't wait to hear the price and how it's accepted on the street when they do that

ipo. i don't like what i'm seeing on the screen. microsoft -- >> sorry, i know. stuart: -- can lagging behind the nasdaq in the last six months. tell me more, if you must. >> a.i. enthusiasm is just a little lackluster at this point. dare i say it, stu? will i be invited back if i say that? we have talked a lot that it trades around 311 times, so all of -- 31 times, so all of that is measuring how expensive it's relative to the bottom line and to the rest of the market. this is a company that is not going anywhere but just remember, you've had a lot of big rally outside of big tech which is good. that's healthy for the market. you don't want just big tech leading, so give microsoft a little bit of a break. stuart: it could be a. i. endeavors have not hit the bottom line in a realistic way that wall street likes, but the stock is still worth $420-something, 8% below its all-time high. show me cvs, please. the there's a possibility cvs

will be broken up, right in. >> just reports as this point but, look, we are hearing that the board has hired bankers to discuss a strategic review. what is interesting is one analyst said it's interesting that they're not sure if management's involved. so this could be the board going to a banker, maybe you have management or not, we don't know. it could be looking at a break-up. look, this is a company that is in desperate need of a turn-around. you had a big hedge fund come in and say we need to look at this company, look at your operations. we'll have to see if this spurs the momentum. stuart: i understand that this boeing is considering selling some stock. they're desperate for money. how much could they bring in when the stock price is so low? >> they're looking at doing a share sale of $10 billion. frankly, they can do need the cash in many respects. they're on the verge of being downgraded this in terms of their debt status, so this is a company that, look, would have to see how much demand there is if you're doing an equity sale for 150, but they're trying to

raise about $10 billion. stuart: taylor, thank you. check that big board, please, because we have headed south. the dow is now down 253 points, that would be a half percent to the downside. we'll find out which dow stocks are accounting for much of that loss, but there are the winners. coca-cola, salesforce, visa, intel and walmart. they're on the winners' list for the dow 30. s&p 500, where are the winners? ford, alphabet, meta, vertex and clorox company. nasdaq, top of that a list is alphabet followed by meta, vertex and datadog, all on the list of winners. coming up, kamala harris supports going even further than biden on marijuana legalization. >> i just feel strongly people should not be going to jail for smoking weed. we need to legalize it and stop criminalizing this behavior. and so -- and i've actually, this is not a new position for me. stuart: well, as california attorney general, she jailed people for weed violations.

her policy seems to have evolved, does it not? jimmy failla here to react. a new trump ad bashing harris' liberal policies is getting praise from radio host charlemagne the god. >> when you hear the narrative d finish if narrator, that one line, i was like, hell, to in, i don't want my taxpayer -- that ad was effective. stuart: it was a trump ad, by the way. he saw the ad during weekend football games. looks like an effective way to to reach the voter. bill hemmer talks about that later on the show. tens of thousands of east coast and gulf port workers walking off the job. their union president insists their demands must be met. >> -- always willing to sit down when the right numbers hit. they know what the number is. stuart: we have more on the impact of this port strike coming at you next. ♪ ♪ working 9 to 5, what a way to make a living. ♪ barely getting by, it's all taking and no giving.

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stuart: on the markets we have the dow now down 2400 points -- 240 points. microsoft, apple and ibm, all of them down sharply and that is taking so 1000 points off the dow -- 100 points. apple, microsoft and ibm all of them on the downside, got it. workers at east coast and gulf ports started walking off the job today. lydia hu in newark, new jersey. you're on the picket lines, i should say. what are the workers telling you? >> reporter: yeah. hey there, stuart. they tell me that the will be why they are striking is that -- the reason why they are striking is that their wages are not keeping up with the cost of living. they're worried about inflation,

and they're looking around and seeing the record contracts that unions are scoring for workers eye -- across the country, and they're also looking at the major big bucks, the billions of dollars that the sheping companies have been making in -- shipping companies have been making in recent years using the very ports where these workers work. and they want a slice of that. you can see here hundreds of union workers bath gathered here to picket today. the port tells us they're prepared for upwards of 5,000 workers to join them. i had a chance to talk to the president of the international longshoremen's association earlier, harold dagget, i asked hims what is it going to take for him to get back to the bargaining table. just yesterday he rejected an offer of a 50% wage increase over 8 years. he says he's asking for a $5 wage hike across the board for 6 years for all of his workers. here's plaintiff if more of what he -- here's more of what he

told me about the shipping companies. listen to this. >> they are money crazy. but they don't -- there's not one company that belongs to the united states, but they want to get rid of our jobs out of the unite. $5 across the board for 6 years or better. we don't ever want to see an automation pier put over here in the united states. the chain is being broke now. cars won't come in. >> reporter: and, stuart, this is just day one of the strike. of course, now the question is how long will this last. these roughly 45,000 workers not going back to the job all along the east coast and the gulf coast and who will be left footing the bill. the estimated cost to the economy, stuart, between $3.8 and 5 billion per day. that's significant. stuart, back to you. stuart: yes, it is, lydia. lydia hu right on the spot of it. gerald sr. storch with me now -- gerald storch. you said retailers could get

around the strikes by going through other ports. is that what's happening now? >> absolutely. at least at the start. it all depends on duration. so it would have been malpractice given the warning everyone had here if they didn't to be take action. so major with retailers shifted to the ports, they built up -- so they can ride out the next few weeks, and they're air freighting things that have a great urgency to them. again, for a few weeks that that works. when you get to a month, then it becomes a major problem. and if what happens a month from now? an election. so i think we can make it for a couple of weeks, maybe a month if without major economic disruptions, major consumer impact. but by then, it's really going to start to hurt. stuart: but there will be an impact on fruit and vegetables because they're perishable. and if the strike lasts even a week, you'll see a problem with fruit if and vegetables at the supermarket, right in. >> well, not entirely.

you know, it is true, of course, perishables perish, so they don't last as long, but even bananas, everyone thinks about the bananas on the counter going bad, even they can be stored up to four weeks in special rooms with temperature-controlled conditions. i would say that, you know, remember the pandemic, consumers might make a rush on bananas and buy all of them in the grocery store. if that happens, we'll run out sooner, and there'll be a lot of banana bread, i'll tell you that as they go bad. [laughter] that's what my wife because with bad bananas. [laughter] stuart: like to hear more on that. part of the worth workers' demand -- port workers' demand is a ban on i a mission. how long -- automation. how long can they stand in the way of progress? >> let's be realistic here, they're not unloading these giant ships with donkeys and carts, you know in. [laughter] the whole container intermodal

system is very san francisco candidated here. -- sophisticated here. so this is always a demand that a union makes. they come to an agreement on becames, i'll bet you right now, they'll agree on automation if just to keep the term, the words in the contract just the way they are now. what did mr. dagget say? it's all about the money. that's what they're going to negotiate on. that's what really matters. the automation, i bet, won't matter in the end. stuart: the president president is going to be under pressure to intervene if this strike really starts to hurt america. he'll be under great pressure at that point, won't he? will he do it? >> hey, that's the brilliance about the whole thing. like i said, it's going to be okay up until if about election time. and if then after the election, president biden is going to be, you know, kind of a lame duck no matter who wins. so then he can do whatever he wants, the election will be over. you know, politicians think politically x there's no political risk right now in

terms of doing nothing. stuart: okay. i understand. gerald storch, thanks for joining us. we'll see you again real soon. send us some banana bread too. all right. coming up, nearly 50,000 port workers on strike, they want a 77% wage increase, no more automation. if it lasts a week, fruit and vegetable supplies will start to dwindling, longer than that, the economy takes a hit. that's my position. i think we're being held to ransom, my take, top of the hour. tonight's debate, a chance for walz and vance to pitch their party to the middle class. vance expected to slam walz on inflation, walz looking to paint, the republican ticket as favoring the rich. we have a full report nextment. ♪ let it be, let it be, let it be, yeah, let it be. ♪ whisper words of wisdom, let it be ♪

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join the millions of people taking back their privacy by downloading duckduckgo on all your devices today. stuart: this is just coming to us, and it may be affecting the market. you see down 270 on the dow right now. a senior white house official says iran is preparing the imminent launch of a ballistic missile to attack israel. he also said and i'm quoting now, a direct military attack

from iran against israel will carry severe consequences for iran. we're monitoring the situation, bring you updates as we get them, but this is happening now. tonight the vice presidential debate, all right, let's go. madison alworth with me now. what can we expect from vance and walz? >> reporter: we know they're going to talk about the economy, right? and these two candidates, they're both from the midwest, but we're not expecting to find middle ground especially when it comes to the how they want to handle the economying prices and making the american middle class better. let's start with vance. the campaign telling fox that the ohio senator will hone in on how his ticket will make the economy better with no tax on tips, social security benefits or overtime pay. he's also going the talk about the plan to bring back more manufacturing jobs with a lower 15% corporate tax rate for companies that make their products here in the u.s. it is expected that walz will seize op on anything tax rate related, painting the gop ticket as favoring the rich while

echoing harris' calls to raise tax on corporations and wealthy americans who need to, quote,, pay their fair share. walz, who helped secure his spot as the rp pick by attacking vance on cable news, he's trying the apply that wealthy and elite label to vance himself because he aend thed yale law school. but i got to to talk to the trump/vance campaign corey lewandowski ahead of the the debate, he it would me that vance will not be fazed by jabs like that, instead choosing to focus on the two top issues. >> that is what the american success story is, and he has lived it. i don't think he's going to be thrown off by any of these attacks on him for whatever it may be. he is fully prepared and focused to talk about the messages that the american people care most about which is the economy ask and immigration and the fact that walz and harris continue to never mention the families who have been decimated by these illegals pouring across the border. >> reporter: so going into tonight the team around walz has been saying he's not a good

debate, trying to maybe set the bar low. this is something that the trump camp says is patently false. he's been in politics for nearly 20 years, so they expect a strong performance. the mics are going to be hot, so that means the candidates, they're going to have an opportunity to the pond to one another or -- respond to one another or to talk over one another, but hot mics, anything could happen. stuart: you've got that right. a reminder, watch the cbs news vice presidential debate tonight here on fox business, starting at 9 p.m. there'll be preshow coverage on "the bottom line," 6-8 p.m. eastern. still ahead, republican tennessee -- republican senator bill hagerty. he's going to react to the report of iran preparing a ballistic missile attack on israel. this is a big story. cnn says working class voters could be the ticket to trump getting elected. what does charles payne if think about that? a russian fighter jet

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