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tv   Varney Company  FOX Business  October 8, 2024 10:00am-11:00am EDT

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another beautiful day in new york city. it is going to be sunny, 75 degrees. let's get to the money. all three indicators in the green, the nasdaq shows a solid gain of 1%, up 161 points had been rising up a little more today, 4.05%. price of oil down today. bitcoin not doing that. we are keeping a close watch on the latest in hurricane milton. now category 4 storm. and president biden will speak soon about these hurricanes, evacuations are underway. and you keep hearing it, and
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kamala harris, the vice president assumes the rich are not paying their fair share. i will make sure the richest among us pay their fair share in taxes. the interviewer should have pointed out the top one% of income earners already pay 46% of federal income tax. sounds like more than their fair share. what their fair share anyway? 30% of income? 40%? you make good money, live in a blue state, may be paying 50%, may lose half the income you work for, and is legalized theft. paying for expanded social spending is the financial issue in this election. harris dodged it. the interviewer pushed hard. was it a mistake to loosen policy on day one of the
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administration. the number is quadrupled. she dodged. saying from the beginning she offered solutions. she has done nothing to keep the numbers down and everything to help the migrants when they get here. free health care. education, transportation, phones, cash, food, that's not solution to illegal migration. it is encouragement. harris has several other media appearances, the view with steven colbert, howard stern. don't expect any admission from harris that the policies of the last three years were marked by failure. her handlers are in the reinvention business. is not her fault, it is trump or congress. a harris presidency, and without further lurch to the list. they are already writing her script. second hour of varney just getting started.
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mark, do you think it matters that harris doesn't answer tough questions directly? she's coming across with a favorable image. perhaps that is more important. >> it does matter. the job of the candidate is to tell you from what they are going to do. or take is correct. i agree with you one thousand%. not only do the one% pay 46% of all taxes, the top 10% pay 76% of all tax receipts and it went up under the trump tax cuts, the percentage they pay. harris campaigned in 2019 on promising $46 trillion in new spending. you can't pay for a fraction of that with taxing the rich. you have to tax everybody including the middle class so she's not being honest with the american people. stuart: love you defended
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harris's softball interviews. watch this. >> there has been a lot of moaning and groaning for weeks but kamala harris hasn't been doing interviews or doing interviews. tomorrow she's doing the view live, the first live interview since becoming the nominee. she's doing the late show with stephen culbert, the howard stern show, she did 60 minutes. she's you doing a univision town hall thursday night. she did oprah, she did all this, she did dana bash on cnn. she did stephanie rule on msnbc. what more do you want? stuart: applause line on that one. these aren't really tough interviews but they are more like image polishing, aren't they? >> i looked up the call your daddy podcast and i can't use the names of most of the titles of the episodes on air right now.
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it refers to lots of things people are into but not presidential. she's trying to campaign on vibes and joy and she's not telling us what she's going to do as president, one thing she told us she will do is get rid of the filibuster and that means a lurch to the left because she will eliminate the ability of the minority to block anything democrats want to do so she can pass her entire agenda without compromise or working with the other side with any bipartisanship. we will pass the green new deal, medicare for all, you talked about student loan forgiveness. she will pass student loan forgiveness and also she can pack the supreme court because the supreme court is what stopped them from doing this by executive action and they will pack the court and have liberal justices who will uphold the crazy stuff they are going to do. one thing we know she will do is get rid of the filibuster and that means the floodgates
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are open for every left-wing idea bernie sanders and dollars of the foreign have been pushing for decades. stuart: thanks for joining us. the you again soon. charlemagne the god is praising donald trump's strong messaging. what he saying about his messaging? >> voters appreciate they are putting america above countries. america first, we know that, that has been the leading message on the campaign trail. he said americans that are struggling appreciate that focus. take a listen. >> one place they mess up in regard to messaging, listen to a lot of reporters talking to trump or j.d. vance about things that are happening in america because it is election season right here in america so so many things we care about here, america first, then tim walz, they asked him about geopolitical problems. that makes them sound very out of touch.
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>> reporter: they are not doing enough to connect with americans on american issues. he is a popular radio host, especially has the ear of black voters in this country. stuart: new data shows kamala harris losing support among one key demographic. who are they talking about? where is it happening? >> reporter: we are talking about korean americans. they are a key to democrat voting base. their support has been faltering since 2020 and this is bad for georgia. this is happening because of the economy. voters in that group say the harris campaign has been too focused on saying trump is racist. the korean vote has become important in georgia. that the state with a large korean population. areas like duluth are many korea town. they deliver democratic vote in the swing state that we know will be very important this november. they have the democrats, a big
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korean problem on their hands. according to 2024 asian american voter survey, korean americans, democrat party identification, has dropped from 51% to 38% in just four years, from 20222024. that was a big problem for that basis, it is essential state for the selection. stuart: good stuff. thank you. back to the markets. solid rally for the nasdaq up one hundred 74 points. almost 1%. scott shelladdy. the 10 year treasury yield is 3.6%. the treasury yield on the 10 years 4%, just above 4%. is this because inflation may be rising, is that the problem with rates? >> absolutely a concern. the yield had been coming down
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in anticipation of rate cut. we had a bigger one than we expected. the market a lot of 50 basis point cut. as soon as that happened there yields started to come back up a little bit. on top of that worries about 50 basis point cut could be inflationary and you throw in the fact we have more trouble in the middle east with the oil, that spiked crude oil prices very high compared to where we were with the rate cut and then the banking of the drum with the port strike and more and more folks got behind the fact that we may have an inflation problem. we are up to 405 because we have a cpi number up this week, 12% on the 10 year yield since they had an initial rate cut of 50 basis points. if we get through 407, that
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could be the next stop. i will say this. we are getting close to the high. if we get about 407, this economy can't take it. i'm from the point of view that the economy is on dicey ground with these 10 year yields getting up to four point level. we have an all-time record bearish sentiment in bonds, bond prices are low interest rates are higher. that could turn around as we are getting to the point that it is unsustainable. i feel the numbers we are getting from the us government regardless what you believe about the jobs number, there was a huge seasonal adjustment, that's another reason we saw a tick up in at yield, that starts online once we realize we are not on good ground. stuart: if we get a strong cpi reading later this week the market will take it on the chin.
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not looking good but we will see you later. ashley webster looking at the movers. let's start with service now. ashley: the cloud-based software service platform up after ubs lifting the price target to $1,055 from the 926 keeping them out of the by rating stuck up 2.4%. the company sets to report earnings at the end of the month. next one, palo alto networks up 27%, the company joining forces with charter communications to deliver comprehensive security solutions through global enterprises. sounds impressive. it is up 4.6%. last stop is a company called the firm, buy now pay later people, stock is surging after analysts upgraded the company
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to a by citing growing profits and market share. that will do it. stuart: tomorrow, hurricane milton expected to make landfall in florida. dave portnoy is organizing shelter for dogs. he will be on the show later. kamala harris was asked about her tax plan. watch this. >> how are you going to pay for it? >> i will make sure the richest among us who can afford it pay their fair share in taxes. stuart: suppose she got all the tax increases she wants. what impact would that have on the economy. stephen more on that next. ♪
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stuart: markets showing a mixed picture. dow that 50, it's up 168 points. the casinos are down because china is disappointed with its new stimulus measures. macau is the big marketplace. when china fails to stimulate properly, las vegas sands go down. right now president biden is giving an update on fema's response to hurricane helen80 and preparation for hurricane milton. we will bring you the headlines as they come to us. now this. kamala harris was asked about her economic plan on 60 minutes was what did she say?
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>> reporter: she tried to dodge the question. she was could decipher what the plan will cost but harris tried to avoid the question on how she's going to pay for her expensive plan. take a listen. >> it's estimated by the nonpartisan committee for response will federal budget that the economic plan would add $3 trillion to the federal deficit over the next decade. how will you pay for that? >> the other economist that reviewed, and his would weaken it. >> the question was how are you going to pay for it? >> i will make sure the richest among us who can afford it pay their fair share in taxes. lauren: pay their fair share sounds good but we as you explained, that already happened and even with that, doesn't add up because with all the higher taxes, she is
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suggesting, she can't afford what she's proposing economically. according to the joint committee on taxation and congressional budget office, several of the key tax proposals in harrison doors 2025 biden budget plan, reversals, 1.1 trillion less in revenue over a decade, that the deficit that the white house and the treasury department have not been accurate on and when pressed on how to get congress to pass her tax plan she disagreed. she doesn't think there's an appetite among lawmakers, she thinks her plan would pass. blue when josie rules in congress. thanks very much. i want to bring in economist stephen more, who has unsettling news about inflation. tell it to me. >> reporter: two weeks since the fed did their jumbo rate cut. since that time as you may recall.
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i was nominated to be the federal reserve board, i followed this closely. i like to look at the commodity index, the price of steel, lead, oil, gas, corn, those prices in the last week are up 11%. we will see biden inflation round 2. it's coming. and those filter into we've not -- >> is that why treasury yields. >> inflation expectations are rising, and they are flooding the economy with money. it did not have a happy result. i want to know if donald trump,
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if he gets all the tax cuts. what does that do to the deficit? >> this came out, the trump economic miracle. and they compare what happened in the economy, what happened under biden and harris. 20 of 22 economic measures. you ask about the tax cut. stuart: all the tax courts. and it goes up specifically. and policies go back to work. we raised revenue from the tax cut in 2017. stuart: i want to know how long
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it will take to get rid of $1 trillion worth of debt. to get rid of the trillion dollar deficit. and we can do that. and we need more time here. if you try to take -- tax the rich to pay for this. you are going to balance the budget with that. are you doing hurt the economy. increase capital gains, with the wall street journal this morning on that very subject. stuart: glad to have you in the studio with us. inflation is back. stuart: quick programming note, charles payne will be hosting
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the unbreakable investor preserving animal spirits. free tickets, foxbusiness.com, charles payne live. coming up, new polling shows harris with a slightly over trump nationally. look at this video, that home in nashville, completely destroyed by helen, the homeowner says the federal government is nowhere to be seen. he is next.
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[narrator] thanks to our award-winning service, low costs and transparent advice. every day, over a million multi-millionares trust schwab with more than two trillion dollars of their wealth. stuart: the nasdaq up 128 points. bipartisan group of 14 attorneys general suing tiktok saying is harmful to young people's mental health. they want to change features on around the clock notifications, endless stream of videos and beauty contests. check out other social media stocks. they are all up except net ease which is down 4%. we are looking at some of the movers, start with norwegian cruise lines please. stuart: indeed. ashley: the company announcing
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a multi-year partnership with the nhl, the official cruise line of the nhl. i don't know what ice and cruising have to do but it is the first time the sports league has ever partnered with a cruise line, stock is up 4%, close %, close to $21 a share. next one up, uber. the company announced it is partnering with the division of emergency management to offer free rides to and from shelters for floridians evacuating hurricane milton. stock is up 2%. airbnb handing out free vouchers to people in the path of the hurricane. the average voucher covers a stay of 10 to 14 days depending on what is available in each area. a nice move. stuart: hospitals facing a shortage of critical iv fluids. what is the problem?
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>> reporter: hurricane helene flooded a major manufacturing facility responsible for 60% of the nation's iv solutions, baxter international is making progress on restoring the facility so there's no day for the return of production. an update for several global plants, scaling and ramping up production to meet us needs and we expect to receive product for these sources so they are turning to global plans worldwide but at home, hospitals are getting half the iv solutions they usually receive and it is impacting patient care. mass general conserving iv fluids and you va hospital in virginia postponing some non-life-threatening surgery scheduled for yesterday and today. the ceo of the american hospital association is urging the biden administration take action, declare a shortage that
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would allow hospitals to extend the shelf life of iv solutions and prepare solutions in their own pharmacies. the ceo right to this in a letter to president biden, quote, patients across america are feeling this impact which will only deepen in the coming days and weeks unless much more is done to alleviate the situation and minimize the impact on patient care. underscoring the concerns, hurricane milton barreling toward florida. >> already getting 40% of your shipment and now deliveries can't be made because of the storm. it further compounds the situation for many supplies but including iv solutions. >> reporter: the fda and other officials are working through the country and wholesalers to figure out restoring supply of iv solutions but it seems they are not declaring a shortage.
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stuart: president biden has been addressing the two hurricanes. he just said he is staying in the united states. he is not going to germany, not going to angola. he is staying here to handle these hurricanes. asheville, north carolina, faces a long recovery after catastrophic damage from helene. your house was destroyed. have you received money from fema at all yet? >> i put in the application over the phone, they had an inspector come out and today i received my money. it was particularly fast. stuart: anything from your insurance company? >> no, we did not have insurance sadly. stuart: all you've got is $42,000 for your destroyed home. that's it. >> it is just 10, but it was the rental.
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everything in the house. stuart: tell me about asheville. we are hearing destruction of its -- can you describe it for us? >> asheville is pretty horrible. there is no way in or out for several days, 10,000 people were without water for a week. it's not great over there at all. stuart: have you seen any fema workers on the ground? >> to be honest, i have seen local churches, i feel like fema might be coordinating the effort but i don't see any visible effort. stuart: any idea how long it might take to restore asheville or get back to normal for power and water and groceries? that kind of thing? >> i wish i could tell you. your guess is as good as mine. that being said everything is
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in shambles. i know a lot of people like to come to vacation but please donate to local organizations. stuart: jonathan hagan, we really feel for you might appreciate you coming on the show to tell us what happened to you and we wish the best of luck, thank you for being here. >> thank you. stuart: back to hurricane milton heading towards florida. it is a cat 4 storm now. what is governor desantis doing about this? ashley: i have been looking at the latest details, the governor reassuring residents on the west coast that there's enough gas for them to fuel up and get the heck out of dodge, get out of harm's way. he told fox and friends this morning safety is not that far away. watch this. >> it is been very taxing on our citizens to have to go through this. just as you are starting to pick up the pieces from helene
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now you see another monster storm bearing down but we will get through this. the important thing today is you still have time to execute your plan. you do not have to get on the interstate and drive hundreds of miles. there are shelters open all throughout the state of florida. in york county, there are shelters that are in higher ground that are hurricane proof. ashley: more than 200 healthcare facilities in milton's path have been evacuated and county run shelters are already open. tampa bay has not been hit by a major hurricane since 1921. authorities increasingly fear its luck is about to run out. stuart: thanks very much. coming up, disturbing footage of an israeli activist attacked by pro-hamas protesters, the full story for you. kamala harris was asked three times about the open border.
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>> was it a mistake to loosen the immigration policies as much as you did? >> it is a long-standing problem, and solutions are at hand. of the one she deflected every time. bret baer, what does he think about sitting down for a real interview next. ♪ if you're living with dry amd, you may be at risk for developing geographic atrophy, or ga. ga can be unpredictable—and progress rapidly—leading to irreversible vision loss. now there's something you can do to...
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after last month's massive solar flare added a 25th hour to the day, businesses are wondering "what should we do with it?" i'm thinking company wide power nap. [ employees snoring ] anything can change the world of work. from hr to payroll, adp designs for the next anything. stuart: take a look at weight watchers up 7. 9%. why is that happening? they added the weight loss drug to part of their weight management problem. up goes the stock, up $0.06 at $0.85 a share, bait%.
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doc you sign --documsign will be added to the mid-cap 400 index. the stock goes up. that happens friday. we are four weeks from election day. kamala harris has not held a formal news conference. jillian turner at the white house. harris has a media blitz of this week but are there any plans for the formal news conference? any plans at all? >> none that the campaign has disclosed to reporters. i guess there is still hope in the next month but nothing we are aware of but they are embarking on a media blitz this week, sitting down with a host of outlets they have avoided up to now, a couple they have spoken to before. first up on the agenda was this longform sitdown interview with 60 minutes. she faced tough questions, her feet were held to the fire on
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policy issues on the economy. listen to what she said. >> the question was how are you going to pay for it? >> i'm going to make sure the richest among us who can afford, pay their fair share. >> we are dealing with the real world? how are you going to get this to congress? >> constituents know exactly. >> congress has shown no inclination to move in that direction. >> past misrepresentations on issues ranging from military service. and talk about donald trump. >> they know the difference between someone expressing emotion, getting a date wrong.
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rather than a pathological liar like donald trump. >> today, this day alone harris is set to join the view, bauer and stern radio show and tonight, he taping with stephen colbert. we went quite a day. listen to what kamala harris said after she was pressed on loosening immigration policies. >> from day one literally we have been offering solutions. >> was it a mistake to allow that flood to happen in the first place? >> policies we have been proposing were fixing a problem, not promoting up problem. we have cut the flow of illegal immigration by half.
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we need congress to act. stuart: bret baer, welcome back to "varney and company". blaming trump or congress and not taking responsibility for the last three years of border patrol. what say you? >> bill whitaker, asking good questions a lot of interviewers along the way, haven't had the chance. and the answer was we put forward a bill to congress to solve the problem. a few months or weeks ago, and trump decided for political reasons he wanted his people to not vote for it. in between those two events, in
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the days after getting into office, vice president harris rescinded, 94 executive orders dealing with the border, or stopping the flow of illegal immigrants coming across the border. bill whitaker points out the number quadrupled. and there was no answer. the interview was pretty well done. stuart: does it matter that she doesn't answer the hard questions the way you and i might want to? this is image. she will do a lot of imaging polishing and to some degree she was image polishing on 60 minutes last night. >> there's an emptiness to the
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answer we were for a bipartisan piece of legislation at the end of an administration the trump was opposed to. the numbers of people and what that means, immigration is a big issue. stuart: a brief clip from your special on fox nation, october surprise. >> look at what happened. events like these shock everyone. as we get to the final days, surprises are often part of a carefully scheduled battle plan so only one side is caught off guard. >> i have made mistakes in my life. >> people drop stories late so that can affect close elections. >> most american voters are not paying attention to elections. stuart: any idea what might be
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the october surprise this year? >> there's a surprise every week. part of the surprise is we know it is coming. our special is really fun. it looks through the years. some of them failed. others move the needle in the final days. fun to look back and track it. stuart: a lot of october 2nd ago. thanks for joining us. october surprise out now on fox nation. time to look at this was a pro-israel demonstrator surrounded and attacked by a pro-hamas crowd in new york city yesterday. we have the full story for you. brian kilmeade is next. and sell them directly to you. no middleman.
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♪ ♪ with so much great entertainment out there... wouldn't it be easier if you could find what you want, all in one place? my favorites. get xfinity streamsaver with netflix, apple tv+, and peacock included, for only $15 a month. stuart: still the same. all green, look at the nasdaq. big tech is doing very well. it is now exactly 10:51. brian kilmeade appears on the screen.
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a pro-hamas crowd during protests. get subletting on out of this. streetfighting in new york. and and madison sq. garden. and palestinian garb, there were some patterns and material available. a group they knew nothing about and what they see is anti-semitism. you should understand anti-israel. another ally, another pro-american movement, people in america can't get behind. it is sickening. if you're a parent of any of those kids you have failed, you should be embarrassed. this is pro-hamas, not pro-palestinian.
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in gaza they were celebrating since october 7th massacre. when they put babies in ovens and people up in front of their families, massacred children or took 200 plus hostage and these idiots out in the streets elevating that moment condemning israel for fighting back, 80% of the people that lost their lives since that time when israel pounded back have been members of hamas, the whole population cheered when the 200 hostages came back and some of them lost their lives and israel has a chance to do one thing. these were their enemies, constantly rocketed them. now time to eradicate them. we need support from their prominent ally, their chief ally, us. provide lot of the armament and some advice, make sure ron doesn't overreact. something we haven't heard in a
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long time, win against hezbollah, hamas, and iran. stuart: it seems to me new york city is becoming almost unlivable. shoplifting has come to unprecedented levels. everything is locked up. it's becoming unlivable. >> wait a second. crime is down in america. you see the stats. the life we live and the one the numbers tell us we should be enjoying. no way the numbers are down or small business isn't paying the price, no way you feel safer in this country, in this city than when bloomberg was in charge, it has gotten worse and they've torn apart the sitting government. everybody is gone. and goes to work every day and talk to his lawyers. don't know what he's doing
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except you prosecute danny penny, the marine that stood up because they were about to be in a major assault and attack on would be subway riders. that's the guy you prosecute but the shoplifters, smash and grabs get to hang out and do what they want. what else were they chanting? nypd kkk. this is guiding them making sure no violence comes their way, the nypd. at one point are we going to wise up and understand who the enemy is? stuart: not yet apparently. not yet. that is most unfortunate because i have to live here and so do you. thankful being with us. i will talk to you again soon. still ahead. we have jimmy failla who was on trump heading to california. he is eyeing the hispanic vote. he might just get it. what do you think? carol markowitz on the migration coming undone. is florida becoming too expensive?
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dave portnoy and kamala are selling the wealthy to pay their fair share. florida's chief financial officer jimmy petrone on the state bracing for hurricane milton. the 11:00 hour is next. ♪ ♪ ♪ ♪
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>> a lot of people lost everything already and so much debris along the roadways and looks like a third world country. >> i believe iran is on its heels, stuart, and because they're losing their two major proxy groups, hamas an

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