upside potential for growth. we're almost at full employment. if we grow as rapidly as the equity market thinks it will, we're going the to be looking at an upturn by inflation and higher interest rates that are going to choke off growth quickly enough. cheryl: wow, okay. i hope you have a good weekend and do something fun, because -- [laughter] john -- [laughter] all right, jonathan. >> final thoughts on the polls that we're seeing in the election, it's important to know that people have been voting, so this isn't like the old time polls that were leading up to election day. election day going on right now, so what we're seeing right now if depending on whether or not things change in the polls may not actually change what the election results are, so i think people need to the the realize -- cheryl: it's a mail-biter. >> -- it's game on. cheryl: thank you. "varney & company" is now. good morning, stuart. stuart: good morning, cheryl, and good morning, everyone. one of the things wall street cares about is inflation. the producer price index went up

1.8% over the last 12 months, that's stronger than expected. it was unchanged in the month of september. it's hard to figure out the inflation trend here. very little movement if up or down. that's reflected in the markets. the dow industrials this morning will open with a minor loss, same with the s&p. nasdaq down about 53 points. check out the 10-year treasury yield, still well above 64 -- 4, 4.100%. as for the 32-year, that's still not quite back to 4%, 3.996. politics. donald trump floats another tax break. in detroit he proposed a tax deduction in the interest on car loans. he's on a roll. polls show him leading in georgia, north carolina, arizona and north dakota. nevada. kamala harris has a stalled and democrats are getting nervous. barack obama has appealed for more support for harris from black voters. on a spanish language channel, kamala harris again had trouble. she couldn't set herself apart from joe biden.

on the show today, hurricane milton, 17 people have died. the cleanup givens. it seems the -- begins. it seems the worst damage comes from the tornadoes, and fema says it has already used up half its budget in just the last few days. we'll get stories from victims across florida. we'll show you elon musk's cyber cab as in the robotaxi. no steering wheel, priced under $30,000. prediction starts in 20226. investors absolutely not impressedded, the stock down about a 6%. then we have this for you, a boat captain rescued miles from land after hurricane milton. he'd been floating on a cooler for if hours. one lucky guy. friday, october 11th, 2024. "varney & company" is about to begin. ♪ ♪ baby, you can drive my car.

♪ yes, i'm gonna be a star. [laughter] stuart: drive my car, the beatles. is in this a play on the tesla robo robotaxi the -- lauren: oh, it is, and you're the star, stuart. [laughter] stuart: the producer price report, no clear trend, lauren. lauren i'm going to do it to you. on the one hand -- i know you hate it when people do that. a sign that low inflation is in the guts of the economy. on the other hand, annual inflation did rise a hotter 1.8% on an annual basis and a hotter 2.8% annually at the core level. i do have a bottom line here. my opinion, this report does not show that the consumer price report that we got yesterday, which was hotter than expected, was a one-off. we're not done with inflation. it's still this. stuart: well, look who's here this morning to join discussion, the the acerbic, if you'll accept that world, david bahnsen. you don't care about -- no

market reaction to the inflation numbers. hard to see any clear trend what's your comment? >> it was 0 month over month if -- 0%, what do you want the market to do? [laughter] the most violent disinflation we've seen in my lifetime. it's a very good report. 1.8% year-over-year is very lower -- low, and the cpi number yesterday showed disinflation many energy, inflation in food normal month over month, on a year 2 2.4. it was .1 more than expected. all in apparel, by the way. stuart: what's the matter with you, david -- >> that is not acerbic. you have me on to give you facts, sometimes i just bring a little attitude. stuart: usually in an acerbic fashion. shall we move if on? >> yes, please. stuart: you're with me for the hour. tesla held their long-awaited robotaxi event. lauren: well, we got a timeline. musk says the cyber cab is two years away and after that, the

robo van. watch here. >> as you can see, i just arrived in the robo taxi. you'll see, like, it's really quite a wild experience to just be in a car with no steering wheel, no pedals, in controls, and it feels great. how will this affect the cities that we live in? and when you drive around a city or when the car drives you around a city, you'll see there's a lot of parking lots. there's parking lots everywhere, parking great bodily injuries, and so -- parking garages, you can now turn parking lots into parks. lauren: he's a visionary. the announcement got an a on the wow factor, but on the reality, a d. it is a huge leap to go from full self-driving where we are now to unsupervised self-driving, and musk never mentioned any regulatory path to get there. and then he never showed us the app which is at the center of

the ecosystem where you're an owner of a car and you can rent that car when you're not using it the other people. as for the cost, about $30,000. let me show you the stock reaction. looked at this. tesla down 6.6% in the premarket. jeffreys called the event toothless and says it's a best case outcome for, flip if it, uber and lyft. those shares way up this morning. stuart: now's your chance, david, to be truly acerbic because you don't care about tesla and robotaxis, do you? >> as a consumer, i would love to see what happens in the future. as an investor, it's not investable for us. he said we hope the start the producing in 2027. stuart: hope to. >> kuhn how old -- do you know how old you're going to be in 2027? [laugher] lauren: he's already mine years late. >> he showed up for this an hour late -- lauren: there was a medical emergency in the crowd -- >> i didn't read that in the reports, so thank you for

correcting me. i don't want to be insensitive. the stock down -- stuart: and you wouldn't touch. the stock -- you're a dividend investor. >> no, and luckily we haven't, because it's down almost 50% over the past few years. stuart: stay with me please. let's get back to the update on florida. lauren, it seems, 24 hours after the hurricane left,s it seems that the worst damage came from the hurricanes. lauren: the wind was more powerful than the water with at least 17 confirmed deaths. governor ron desantis says the damage is certainly significant, but the statement was spared from the worst case scenario. this morning 2.4 million people without power, but as the lights do slowly go back on, good news. the airport in tampa, it's back open. so is disney, and i can tell you that magic kingdom is fully booked. that makes me feel good this morning. stuart: okay. let's get to politics, shall we? that's my general interest level here. i want you to listen to what donald trump had to say about joe biden.

if. >> there are a lot of countries don't like me. i get all this bad publicity. this one doesn't like me, germany doesn't like me. a lot of countries don't like me. they say, who do you like better, sleepy joe biden or trump? oh, i like biden better. yeah, because he didn't let them do what they're doing. he doesn't have a clue, the guy. he just goes to sleep at 4:00 every damn day. [laughter] he doesn't have a clue. and he's destroying, you know, they're destroying our country. you see, that that's the real threat to democracy. stuart: okay. i'm going to lay this up for you. who do you think -- lisa boothe, by the way, is joining me this morning. who do you think is the real threat to our democracy? >> donald trump just a faced with go attempt thed assassinations against his life. they've tried to jail him, they've tried to bankrupt him, they've tried to kick him off the ballot, and the list goes on. so are those actions not a threat to democracy, to try to assassinate someone, to the try

to jail them, to to try to jail a political opponent? and then you look at the flipside of that, and and also joe biden's been a part of that with the fact that his top doj official left the department of justice to go the manhattan to work on this case against donald trump here in new york city. and beyond that, you look at the flipside of it where you have irs whistleblowers who have said joe biden's department of justice this warted their attempts -- thwarted their attempts into hunter biden, they allowed the statute of limitations to lapse with things like the the burisma if money. so, you know, if you look at all of that in its totality, it's pretty easy to see that democrats in this instance are the ones hurting the country. stuart: i want you to listen to the harris campaign co-chair try to explain the difference between harrises and biden. roll it. >> how do you think she is different than president biden? >> well, first of all, whatever the differences is between 'em, it's not nearly as vast as the difference between her and donald trump. she's obviously a woman, a woman of color, and she is of a new

generation. she is not joe biden as much as they want to try to make her joe biden. but she was and is part of the biden administration. stuart: you know, that question has been asked numerous times. they never have an answer. they can't separate -- she can't separate herself from the biden presidency. >> well, there's also no answer for her candidacy either. i mean, they might as well say she's not donald trump. that's really the only thing she offer as this country. she's an accidental presidential candidate. do you honestly -- if democrats had their choice, she would not be the nominee. she tried in 2020, and she was rejected before she even got to iowa. they were stuck with her because joe biden wanted to check certain boxes, made her the vice president, now they're stuck with her as their presidential nominee. no one wants this woman, and she's been propped up. she's a manufactured candidate with 84% positive media coverage. they have made this person who no one liked previously, prom propped her up. without them, she would be nothing. and the perfect if example of who she is as a candidate is when she was on air force two

following hurricane helene. she took a picture with a blank piece of paper pretending like she was writing things down and headphones that the weren't even plugged in because she's fake, she's phony, she's an unserious woman in an incredibly serious time, and she has nothing to offer this time. and god willing, hopefully, she is not ever going to be the president of the united states. stuart: trump's on a roll, harris has stalled. lisa boothe, thanks for join us. >> i have some opinions. [laughter] stuart: yes, you do. we like that. house democrats -- lauren: reaching voters in competitive districts. the dccc says for meet and greets to mixers as cross the congressional battlefield are asian-american, native hawaiian wan and pacific islander, black and will tee know directors have been finding a elizabeth a rah of ways to to meaningfully make connections. i will say some districts, and i'll name one, warren buffett's

district in omaha, nebraska, the 2nd congressional district, just a few dozen votes can call the race, can make the deference. so i'm not going to poo poo it, it could work -- pooh-pooh if it. stuart: pull out all the stops. harris has the same vague answer every time she's asked how she will fix the economy. >> you've heard my story. i come from the working class. i'm never going to forget where i come from if. and part of what we have to do is build what i call an opportunity to be economy. stuart: wait a minute. he? just said i come the -- from the working class. what does her upbringing have to do with today's economy? if tammy bruce will discuss that. florida picking up the pieces after two monster hurricanes. brevard county sheriff wayne ivy says his county was spared from severe damage. his hurricane response team is now, therefore, heading to west florida to help there. he's going to be with us after

this. ♪ at harbor freight, we design and test our own tools... and sell them directly to you. no middleman. whatever you do, do it for less at harbor freight. save even more at our parking lot sale going on now. (♪) teeth sensitivity is so common. it immediately feels like somebody's poking directly on the nerve. i recommend sensodyne. sensodyne toothpaste goes inside the tooth and calms the nerve down. and my patients say you know doc, it really works.

stuart: no clear trend in the inflation report this morning, no clear trend for stocks. down a little across the board but not by much. florida still picking up the pieces after milton. steve harrigan is joining us from tampa, or florida. what's the latest, steve? >> reporter: stuart, they're picking up the pieces street by street, block by block here, and they're using cranes to do it trying to yet rid of some of the debris. some of these are a mix of debris from both hurricanes. it carried out more than concern they've carried out more than a thousand water rescues, few more dramatic than the rescue of a 14-year-old boy.

first responders saw him floating mt. water a hanging on to a piece of wood, a piece of fence to stay abloat. he told rescuers he was trying to make it home. and, of course, the state was very aggressive in encouraging people to to get out of the storm's path, but not everyone listened including this man who rode it out in his mobile home. >> it's an experience that only think i've got left in my life. if it was going to go, i was going to go too to. during the storm i thought about that, you know? that i made a bad decision. >> reporter: still more than 2 million people without electricity at this point and many without running water as well so tough conditions along the coast here. stuart, back to to you. stuart: thanks very much, steve. brevard county sheriff wayne ivey joins me now. what yo you've seen, sheriff, was the worst damage from the tornadoes and not the storm surge? >> i think it e depends what location of the state you're in.

at one time we had close to the a thousand tornado warnings that were popping up everywhere across the state. you know, for us we had a tornado touch down here, it did the most significant damage we had on the east coast. when you look at the flooding mt. structural damage on the west coast, you see how the storm surge impacts different areas, you know, between sarasota county and hillsborough, they're pretty delaware sated the over there. stuart: we've got 2 2.4 million people, homes and businesses, still without power. but i believe that's mostly on the gulf side. is that a correct? >> that's correct. you know, at the a peak of our storm here we only had 9,000 out without power. our utility companies have been able to quickly get most of that reestablished. but most of the resources, as they should be, are focused on the west coast of florida, trying to stabilize and reestablish over there. so we've got teams coming from all over the state. of we sent a team over of 12 deputies to help with life saving, rescue and everything

down to working intersections where traffic's trying to get back flowing. stuart: there were reports right as the hurricane hit, was it 1,400 gas stations were out of gas. have they got gas now? >> so, you know, in our area we've been able to see our gas stations open back up. here's the thing, the port of tampa, last time i knew, i think it controls, like, 40% of the fuel transportation in the state of florida. so just the fact that they had to shut down to embrace the storm is going to put a little bit of slowdown on that. so, you know, we're gradually seeing businesses open back up across the state, but it -- this was a massive storm that did devastation with a very broad brush. stuart: but in some areas are you still conducting search and rescue operations? >> it's my understanding our team is over, as i said, on the west coast in hillsborough county, they're still doing rescue operations, they're still, you know, going through the different neighborhoods

trying to look for anybody that's trapped, anything of that nature. stuart: so it's not over by any means. sheriff -- >> no, it's not. stuart: -- thank you very much for joining us. we appreciate it, always, and and best of luck as you take your deputies over to the west coast. >> thanks, stuart. appreciate it. stuart: lauren, i said at the temperature top of the show that fee -- top of the show that fema had used up half of its budget in just a few days. that accurate in. lauren: yeah. remember, the fiscal year just started october 1st, and already nearly half of that $202 billion disaster fund has been spent responding to helene and milton to. expectagency might have to restrict further spending and lending until congress approve funding. senator j.d. vance slam 2 the administration's -- slammed the administration's response to the disasters. >> north carolina's underwhat water. what should have happened is that the president expect vice president should have sent the

82nd airborne to north carolina that day, and it should have happened right away. [applause] and instead, of course, we had a president at the beach and a vice president at a fundraiser in san francisco. what you need in times like this is you just need leadership. maria: well, the 8 2nd airborne division is the army's global response force. they can deploy in hours, and they're stationed in north carolina. so he does have a point. i think, yes, this is all a hurricane politics, but ron desantis, the governor, has shown extreme leadership in getting things done. stuart: the biden-harris team has accused j.d. vance and trump of misinformation. lauren: absolutely. stuart: because they say the 8 2nd airborne was late coming to town, because harris was in san francisco when the hurricane hit. they said that's misinformation. i disagree with that. i think it's legitimate political criticism. lauren: some of it is legitimate

political criticism. stuart: well, what's not legitimate in. lauren: i think there was a lot of this, the money that was going to some people that needed the money, it could be more, but it was just what they were getting -- stuart: the $750? trump never said that. he never used that expression. lauren: okay. you win. i give it to you. what do you do? stuart: 15-love. lauren: there you go. 15-love, stuart. stuart: let me get out of this. check futures, please. a little bit of red, not much. the opening bell is next. ♪ if i 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 ride life, it's a winding road. ♪ if yeah, it might be gravel, but it feels like gold ♪

stuart: the market opens in three and a half minutes and we're going to see a mixed picture. dow up a few points, nasdaq down 70. mark a mahaney with us this morning. amazon, you like their satellite internet project. does it compete with musk's starlink? >> oh, yes, it does, and miss iw is the coca-cola of the segment. they've gone from 00 to almost 7 billion in four years.

i hear somebody do those kind of numbers, and i think there must be an interesting growth opportunity. amazon was supposed to start launching satellites in the fourth quarter. that may slip into next year, and it highlights what i call rocketriesing for amazon. but the -- rocket risk for if amazon. i think musk got way ahead of everybody on this, and i think amazon's competitive differentiation in the market because of its aws presence is stronger than most people recognize. i think it's a good move to get into this market. there are going to be costs, but as long as the company breaks those out, i think investors will become more bullish on it over time. stuart: it is basically a whole system of literally thousands of satellites all linked providing you internet service directly on the ground. that's basically it, same as starlink. >> yep. it's bandwidth play. you know, that's -- our demand for bandwidth seems to be insatiable, and it's not just consumers east. i think the the amazon or aws advantage is generally when it

comes to provide services to the military, dod, government agencies, aws and amazon have been extremely reliable partners over the years. and i think that's going to really help them break into those markets. also with commercial markets too, think about airplanes. stuart: sure. i remember when you had a 225 the price target for google. that was last month, i believe. it's now at 162. >> yeah. stuart: the department of justice is threatening to the break them up, take them on antitrust grounds. does that change your outlook, your price target in. >> well, that specifically doesn't, but i think the do doj pressure does. we brought down the price target to 200 to. i think investors need to realize that not next year, not two years from now, but in three year years from if you there's a probability that google loses material search market share because they will not longer be able -- no longer be able to do distribution deals. and i think there's a real chance that's what's going to

replace that is apple or microsoft. there's not many people left, outbidding that and taking it oaf. the judge's decision was pretty emphatic. it could get tougher than that for google, so i think as an investor it really kind of range-bounds google. that's' one of the reasons google's not the top pick. i prefer meta here at all-time highs compared to google. stuart: you keep a list of top stock picks, what is top at the moment? >> amazon first and, by the way, uber is number two. tesla's not ready the go when it comes to robotaxis, and there's a great opportunity the for uber to be the ultimate robotaxi platform. stuart: okay. mark, we will see you next week, that's for sure. 3, 22, 1, the market's open and look who that is, jensen huang, nvidia guy. right there in person pressing the button, ask and the market is now open. the dow actually has opened with

an 80-point gain. there's obviously some buying for the dow 30, more green than red in those 30 stocks. s&p 500, straight to a 100-point gain for the dow. the s&p 500 is down a fraction. i call that dead flat. the nasdaq composite, where's that going this morning in the early going? it's down about one-third of 1%, down 65 points. big tech, where are they today? we have a list for you. amazon, apple, meta, microsoft, alphabet, they are all, every single one of them, down in the very early going. now banks, they kicked off the earnings season. some of them reported first thing, this morning concern first thing this morning. jpmorgan, the stock's up, taylor. >> this is the biggie, right? the bellwether for the economy, and they're doing very well. a surprise net interest income gain, the difference between what they earn in loans versus what they pay out in deposits. they said even though rates are falling, they're actually still benefiting because even though the fed is cutting, yields are

still rising. they're not falling. so they're really benefiting. equity trading was up, so the markets are open, and they're benefiting from that. stuart: david, you'll get your chance in a second on jpmorgan, i promise you. whale -- wells fargo. >> a different company than they were five years ago when they had all of hose problems. trying to put them behind them and move forward. better than expected profit, a surge in investment banking fees, again, showing that the markets and these capital marks are open. they said if you do want to nitpick rain looked at losses, it's that commercial office space that ends up being trouble for them, but overall credit is fine. stuart: okay. tesla hosted their long-awaited robotaxi event last night, but the stock is down $211, 9% -- $21 is. why is it down so much? >> i think it was a little bit of a letdown. i was reading through dan ives' note this morning. he loves this company. there's no steering wheel, no pedals, it's this great company,

they'll launch the robo cabby 2027, less than $30,000, but i think a lot of people had expectations relate down -- let down. uber and lyft came out and said this isn't a problem for us at all. this is a company that wants to innovate, but they're small on details, so we're still able to win. ooh. stuart: advance micro guys, their trying to rival -- devices, they're trying the rival blackwell chip. what can you tell me about that chip? >> they're hoping the launch early next year in significant shipments. nvidia's gross margins are 75%, so any company like amd who sort of nip at their heels cuddle pressure them. stuart: ely -- could pressure them. eli lilly, they've got competition in the weight loss space. who's getting in? >> it's a disable in-- danish biotech firm. they're saying they have the next generation for these

obesity drugs because they're more effective with better quality weight loss. what is that? reduced muscle loss and fewer side effects. they are saying we just want to partner with a big pharma firm that can take us to that next level, but we have the best generation weight loss drugs coming. stuart: okay. before we go to trump media, right-hand corner of your screen, the dow's up 200 points. that's a new intraday high at the moment. all right, let's get to trump media. had quite a rally recently. the stock, i believe, is tied to trump. is that why the market is keeping going up? >> it is. he's generally had a pretty good week. stuart: he has. >> this stock two weeks ago had a to low of $11.75. it is a $25-6 the stock, it has more than doubles, up 1000% in just two weeks -- 100 percent. again, tied to the polls that are showing a little more in favor of trump than harris aome. stuart: david, it's your chance. it's dividend pick time, and you're picking jpmorgan.

>> they just did earnings today to. i've owned it for 15 years. we bought it at $30, it's at 220. wells fargo, which taylor talked about, is up 100% since financial crisis. jpmorgan's up 700%. that's how much better of a bank they are than the second, third, fourth best banks in the world. the dividend was 20 the cents a year in 2009. it's $5 5 aa year now -- $5 a year now. so i picked this stock, and i'm talking so long about it because it's an opportunity to to explain the my friend, stuart varney, the benefit if -- [laughter] stuart: i know what's coming. >> -- how capital gains come from the if dividend growth. the dave dividend growth indicates the -- of the company. and jpmorgan has been an incredible success story of dividend growth. stuart: and you're telling me that the value of jpmorgan chase has gob up more than microsoft in the -- gone up more than microsoft in the same period? i'm a fool to have invested in microsoft and not -- >> no, no, no.

microsoft's been a huge success too. i'm trying to explain that microsoft went 16 years that it didn't go up at all a from 2000 to 2016 -- stuart: i know that. i remember. >> jpmorgan had to go through a financial crisis, they did better than the others. but the dividend indicated that they were growing and improving the business, and then along the way we were also receiving the dividend. so now if you bought the stock at $30, you're getting $5 a year, you have a 20 the 0 -- 20% dividend per year on what you paid for the stock and your capital gain of 700%. stuart: okay, moving swiftly along, the second play from david, truist financial. >> we love name, and i put it in for you. it's paying 5 percent now. it's also up about 700% from it. they're up quite a bit and paying 5% -- stuart: at 43 they pay 5%? >> yes, they do. at 43 they're paying 5% where

our cost was 7%. stuart: not bad at all. check that big board. we're up 200 points, as we dold you a moment ago, a new intraday all-time high for the dow industrials. the winners, jpmorgan, goldman, johnson & johnson, travelers, honeywell on the list. s&p 500 winners topped by wells fargo. uber is up $4. 5% today. jpmorgan, bank of america and granger is on the list. nasdaq composite winners topped by fastenal, warner brothers, paypal, siriusxm radio. coming up, just for you, dhs secretary mayorkas refusing to answer questions about the afghan national charged with an election day terror plot. >> reporter: how was this man brought into the u.s.? what screening did he undergo? >> i'd be pleased to discuss this issue at a different time. stuart: okay. the suspect worked a security job is with the cia in

afghanistan. california congressman darrell issa has more on this. harris made her campaign about vibes and democrat strategist is david axlerod says she's now in hot water. >> i think the vibe right now isn't great. there's concern. but partly we have this plethora of polls, and they all say something slightly different. stuart: okay. how bad is this for haste? caylee mcgee on that. trump adding another promise to his grab bag of tax policies. now he wants to make car loan interest tax deductment economist -- economist e.j. antoni analyzes that after this. ♪ -- the clothes i'm wearing -- ♪ and the road goes on forever. ♪ i've got one more silver dollar. ♪ but i'm not gonna let 'em catch me, no.

♪ not gonna let 'em catch the midnight -- where ya headed? susan: where am i headed? am i just gonna take what the markets gives me? no. i can do some research. ya know, that's backed by j.p. morgan's leading strategists like us. when you want to invest with more confidence... the answer is j.p. morgan wealth management 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... ♪ ( slow. it. down.) ♪ ♪ ( get it goin' slower.)♪ ask your doctor about izervay. ♪ (i. zer. vay.) ♪ ♪ ( gets ga goin' slower.) ♪ izervay is an eye injection. don't take it if you have an infection or active swelling in or around your eye. izervay can cause eye infection, retinal detachment,

or increased risk of wet amd. izervay may temporarily increase eye pressure. do not drive or use machinery until vision has recovered after an eye injection or exam. izervay is proven to slow ga progression, which may help preserve vision longer. ♪ ( i. zer. vay.) ♪ ♪ (gets ga goin' slower.) ♪ so shift gears and get going. don't delay. ask your doctor about izervay. when you're looking for answers, it's good to have help. because the right information, at the right time, may make all the difference. at humana, we know that's especially true when you're looking for a medicare supplement insurance plan. that's why we're offering "seven things every medicare supplement should have". it's your free, just for calling the number on your screen. and when you call, a knowledgeable, licensed agent-producer can answer any questions you have and help you choose the plan that's right for you. the

call is free. and there's no obligation. you see, medicare covers only about 80% of your part b medical expenses. the rest is up to you. that's why so many people purchase medicare supplement insurance plans like those offered by humana. they're designed to help you save money and pay some of the costs medicare doesn't. depending on the medicare supplement plan you select, you could have no deductibles or copayments for doctor visits, hospital stays, emergency care and more. you can keep the doctors you have now, ones you know and trust, with no referrals needed. plus, you can get medical care anywhere in the country, even when you're traveling! with humana, you get a competitive monthly premium, and personalized service, from a healthcare partner working to make healthcare simpler and easier for you. you can choose from a wide range of standardized plans. each one is designed to work seamlessly with medicare and help save you money! so how do you find the plan that's right for you. one that fits your needs and your budget?

call humana now at the number on your screen for this free guide. it's just one of the ways that humana is making healthcare simpler. and when you call, a knowledgeable, licensed agent-producer can answer any questions you have and help you choose the plan that's right for you. the call is free. and there's no obligation. you know medicare won't cover all your medical costs. so, call now and see why a medicare supplement plan from a company like humana just might be the answer.

stuart: first thing this morning the dow industrials hit a new all-time, intraday high. 200points higher at 422, 660 right now -- 42,660. goldman sachs and jpmorgan are adding 100 points to the dow industrials. donald trump spoke at the detroit economic club yesterday where he talked about taxes and trade. madison alworth with me now. what is trump promising? >> reporter: well, he made a lot of promises to both the car manufacturers and to the car drivers, so everyday people. trump has been pledging to to lower the corporate tax rate to 15% for companies that manufacture in america. he reiterated that yesterday, and then he expanded it even further, offering greater incentives for u.s. car manufacturers. >> u.s.-based car makers and manufacturers will also be rewarded with expanded research is if development tax credits.

are substantial. they will be able to write off 10 to -- 1000% of their cost of heavy machinery and other equipment met to build a plant. 100. necessary to build a plant. in the first year. >> reporter: so pushing for more new plants here in the u.s. trump also went after his own united states-mexico-canada agreement or usmca, a trade deal that he brokered while he was in the white house saying china has been using mexico, kind of skirting taxes by going through mexico, and he viewed to fix it. something that steel workers have told me the is a top priority for them. automakers aren't the only ones set to benefit. trump also made a play for car buyers saying he will make car loan interest fully deductible. this is the latest in a string of tax-focused pitches that we heard from the former president. opponents question whether any of this can get done because these proposals would need to be

approved by congress. stuart: economist e.j. e.j. antoni joins me now. he said this about a deducting the interest on car loans, he said this in detroit. that sounds like a giveaway to the car makers, doesn't it? >> stuart, i have we though. why is it that we're going to tax both the person who receives those interest payments and also the person who makes those interest payments? there are lots of examples in the tax code where that's not the case. we exempt one side of that a equation. alimony's a good example of that. so i think it actually makes a lot of economic sense. whether it's a good political point or not, to the exempt at least one side is, again, of that equation finish the. stuart: it seems like it's all a tax cuts, all the time. kind of a spread shot of a various -- over various markets. no ax that on tips for the waiters, no tax on car loan interest for the drivers and the car companies. is it kind of a scattershot, tax cuts for everybody and everything?

>> well, stuart, i mean, let's be honest, i would love to just get rid of the entire income tax, right? [laughter] unfortunately, we can't do that. so if the best we can do is cheap away at it piece by piece -- chip away at it, i'm all for it. i love these ideas. stuart: okay. you've got a new op-ed, you say we have been in a recession since 20222. the u.s. economic income and output have fallen overall for four years. first of all, what exactly is economic income, and how far down is it? >> well, we have lots of different ways of trying to measure the economy. gk p&g pi measure one side as the income and the other is production. how much money you're earning, how much to you're pending, essentially. and when we look at these numbers, we always have to adjust for inflation because otherwise you're just measuring dollars. and as the dollar shrinks and you need more dollars to the cover the exact same amount of economic activity, it makes it look as if there is more

activity when there really isn't. in other words, it gives the appearance of growth whens there is money. the problem is that our inflation metrics have been failing us over the last several years. yesterday's cpi is a great example of that. the cumulative inflation for the cpi's proxy of to homeownership is up about 23 now since january of 2022 the 1, but if you look at actual home prices and actual interest rates which the cpi does not, by the way, or then you see the increase has been about 103%. you're off by more than a factor of 4, so it turns out we have been counting a lot of growth this is not growth. it's simply inflation. and once you account for all of that, you find out that the economy in the last quarter was about the 22.5% -- 2.5% below where it was at the beginning of 2019 according to our estimates. stuart: okay, it looks like a good economy, but you say it ain't. e.j. an tony, thanks for being here. we appreciate it. david, here's your chance to pass judgment. >> well, look, i'm in big favor

of cutting the rates for everyone. i'm a reaganit the e, a supply-sider. art laffer has ought me a lot, and if these selective tabs cuts are a bad idea. -- tax that cuts. this one on auto interest distorts behavior, it causes people to use barrowed money. of it's a very bad idea, and des moines never happen. stuart: we'll leave it at that. this was media blitz week for kamala harris. key -- it did not work. the democrats are getting worried. at the heart of her problem, she didn't differentiate herself -- she can't differentiate e herself from joe biden. florida, devastated by two hurricanes. our next guest has two young are children, doesn't know where she'll be able to move -- when she'll be able to move back to her house which was destroyed. she joins us 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. the bootmaker. yeehaw [narrator] but many do have something in common. we all trust schwab with our wealth. [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: let's get if back to the devastation in florida. joining me now is a resident of seminole, candace briggs joins us. your home was severely damaged by milton. how are you children handling this? because i think you've had to

move out. >> yeah. our home was actually flooded during helene, so we had to move out a couple of weeks ago. we stayed with some friends for several days, went to the a family member's home, and now we're in a hotel because we had to evacuate for milton. our home will take months to rebuild, but an airbnb is currently without power, so we're in flux and waiting to see what happens next. stuart: what do you tell the children? because they're not to going back to the school they know, i presume. >> right. so i have three children ages 3, 5 and 7, and the 5 and 7-year-old go to a school that had some significant damage. there are tree limbs down, power outages, some buildings have some damage. and so for right now i'm trying to be honest with them but also try to make this experience if as fun for them as possible p. kids love hotels. [laughter] stuart: that's true. >> there's continental breakfast and is and a pool, and i brought games and books, and we're just

doing our best to support them through this. but it is difficult for them not being in their usual routine. we are trying to stay positive, and every day i ask them the think of thing they're thankful for because, ultimately, being grateful and showing gratitude is going to help us as we try to process this difficult time. stuart: has the community come together? >> it's been remarkable. to be honest, the community spirit is such a powerful feeling to be a part of. i'm looking forward to us rebuilding and moving back to our neighborhood so that we can be a part of it, but i would say that we have neighbors that have helped us so, so much. we have friends, family, our church, there have been food trucks that came to our neighborhood and provided us with free food as a we're trying to clean out our homes and salvage what we can. the community spirit has been wonderful, and i'm grateful to be a part of it. stuart: who gave you the most help, the government of florida or the federal government? >> so right now we're in the process of applying for fema.

we are still trying to figure out what that assistance looks like, but it's difficult being a first-time homeowner, i've never had a home flood before. you don't really realize what the limitations are of your flood insurance policy until you have to file a claim. and so right now we're still trying to figure out what all of this look like financially. stuart: i take it you don't have much in -- you're not going to get much back from insurance? >> that's correct. we have flood insurance deductible and then there's limb takes on how much the policy -- limitations on how much the policy coffers in contents. so for us to completely refurnish our home will cost well bo what the policy covers -- above what the policy covers for our contents that have been destroyed. and with a flood, with the storm surge, it's not like it's fresh water coming through your home. everything it touches needs to be replaced, essentially. and so it's very daunting. and it also doesn't cover relocation costs while we live elsewhere for months waiting for

our home to be rebuilt. stuart: candace, we feel for you and wish you the best of luck. >> thank you so much. i appreciate it. stuart: check of the markets, a little bit of red ink for the nasdaq, but the dow's in160. david, thank you very much for being on the show. the acerbic bahnsen, he'll be back. still ahead, mayorkas won't answer questions about an election day terror the plot. congressman carole issa on that. in two years, new york city will have spent $2.3 billion housing migrants. what does jon levine think about that? we'll ask steve hilton about trump's rally in deep blue california. democrats concerned about harris' stalling momentum. kaylee mcghee white will get into it. the 10:00 hour is next. ♪

♪(voya)♪ there are some things that work better together. like your workplace benefits and retirement savings. voya helps you choose the right amounts without over or under investing. .. voya, well planned, well invested, well protected.

(marci) what is going on? (luke) people love how the new homes-dot-com helps them get quick answers about any property by connecting them to the actual listing agent. (agent) oh! so, i'm done? (luke) oh, no, no, no! we're still not sure everyone knows that we're the only site that always connects you to the listing agent rather than selling off your contact info. so, we're gonna keep you up there a little while longer. (agent) okay, ya! i'm getting great exposure. (marci) speaking of exposure, could we get him a hat? (luke) ooo, what about a beret? (vo) homes-dot-com. we've done your home work.

meet kandi technologies, where innovative, eco friendly design meets exceptional performance. our diverse portfolio includes utvs, go carts, golf carts and e-bikes. explore electric investment opportunities. kandi technologies.

ah...family time. of course it's not the same if you can't enjoy your favorite foods. but getting your teeth fixed at a price you can afford? don't really see that one on the table. here's something to chew on. aspen dental has custom made solutions with flexible finance options to make implants and dentures more affordable for you. with 0 dollars down plus 0% interest, if paid in full in 18 months. helping people like rose keep family traditions going. it's one more way aspen dental is in your corner. "cavuto coast to coast" 20 stuart: 10:00 eastern time friday, october 11th