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tv   Varney Company  FOX Business  October 15, 2024 9:00am-10:01am EDT

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weeks away, and i cannot believe that kamala harris a is using cannabis to attract the black male vote when she oversaw the prosecution of 1900 cannabis convictions while she was the district attorney in california. i don't understand. maria: good point. cheryl. >> well, kamala harris is going to be in detroit, michigan, today. so that's going to be the interesting, to hear what she says -- maria: about the oil industry. >> and this new economic plan. maria: liz peek. >> voters want a change of direction, maria, and they're right, and donald trump will deliver that. maria: turn the page -- >> you got it. maria: right many. [laughter] ladies, great to be with you. thank you. don't forget to the watch president trump's fox news town hall tomorrow at 11 a.m. eastern with -- eastern with harris faulkner. stu, take it away. stuart: good morning, everyone. this is this is fascinating. the stock market makes a series of record highs, the election is exactly three weeks away and it is a dead heat. we're going to the start there. new fox power rankings show the
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race is now a toss-up, and the last key state in harris' column is now drifting towards trump. that state is michigan, a must-win for harris. as the campaign of joy and hope fades, desperation sets in. harris has turned to fear-mongering. she calls trump dangerous and unfit for office, she says a second trump term would be a huge risk for america. under pressure to do something, she has agreed to an interview with bret bair. it will air on fox tomorrow. donald trump back in pennsylvania again. he outlined his plan for building more homes. a big part of that is cutting regulations and lowering interest rates. then two people in the audience fainted. while they received medical attention, trump turned on his music playlist. that's how the event ended. we're going to start with oil, it's down to $7 toa barrel. -- 70 a barrel. israel will attack iran's military, not its oil installations or nuclear facilities. down goes oil.
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a minor pullback for stocks if in premarket action today, very minor, indeed. the nasdaq is actually up. that follows a series of record highs for the dow and for the s&p. profits up, big tech the recovering, the economy growing, or inflation moderating concern at least at least. the dow is down 47, but the s&p and the that is damage is up slightly. bitcoin holding firm at $65,000 a coin. the 10-year treasury yield is right around 4.10 -- no, no, it's come down a bit, 4.05. that's maybe encouraging the nasdaq. the 2-year at 3.93. that yield is down as well. on the show today, kamala harris tries to link the stars, the constellations, to trump attacking cities with large black populations. we're really trying to figure out exactly what she means and what she said. you will see the clip and you can make the judgment. bill clinton admits that the migrant who allegedly murdered a nurse in alabama was not properly vetted.
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whose fault was that? and nasa spends billions on being politically correct but gets beaten in space by elon musk. it's tuesday, october the 15th, 2024. now, i wonder what we'll be reporting exactly three weeks from today? "varney & company" is about to given. ♪ ♪ i get by with a little help from my friends. ♪ i get high with a little help from my friends ♪ stuart: get by with a little help from my friends. what's that relevant to? >> me,s us, friends. stuart: that's right. >> sure. [laughter] stuart: okay, i'll take it. what we've got, breaking as a of right now, fox has indeed released the latest power rankings. it's kind of the state of play. morning, madison. what do we have? >> reporter: this is big news.
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we're seeing it's really close. we have a lot of coin flip if states. this is going to be an electoral college dog fight. the presidential election has moved from a harris lead to the toss-up. the power rankings predict that a harris will win at least 32226 the -- 226 electoral votes with trump winning 216. either candidate is positioned to win. part of the reason we have seen this shift is because trump is gaining with four key voting groups. he is up 5 points with male voters. then if you look at the democrats, that group has shed 20 the points when it comes to the black vote. you see in 2020 the they had 83, now they're +63. they've shed 10 points with hispanic voters and 3 points with young voters. that's all a according to the times-sienna poll. the black and hispanic gains for the gop, that is incredibly important because it can make a huge difference in states like pennsylvania and and arizona.
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but harris has made key gains as well. women have shifted 3 points towards harris. voters with a college cree, 10 points plus for her, giving her an overall 26-point advantage with that group. and seniors have now flipped for harris. let's take a look real quick at the race for senate. the fox news power rankings still puts republicans in control with 51 seats hanks to an all but certain flip in west virginia as well as an edge many montana. just getting them over that majority line. the presidential race, like you said three weeks away, it is now officially a toss-up. stuart: that's fascinating, isn't it? >>s. stuart good stuff the. donald trump held a town hall in pennsylvania last night. listen to what he had to say about inflation. roll that tape. >> you've been eaten alive with inflation, and all i'm doing is getting you back to even. they like to say it was a 20% increase. it wasn't. it was 30, 40 and 50 fending on what they want to -- depending on what hay want to include. we're going to drill. when the energy comes down,
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prices are going to come down. all of that prices, we're going to get the prices down because the damage has been done. if we had no inflation now, such damage has been done, the highest -- in my opinion, the biggest inflation in the history of our country. stuart: all right. look who's with us this morning, clay travis -- >> morning, guys. stuart: good to see you -- >> good to see you in person, first time, yes. stuart: does trump's message resonate with voters? >> yes, and i think it's the why he's going to run. madison was running through the latest news from fox news, but i love the markets on gambling. all these the different sites, trump's surging this morning. and as many people are beginning to early vote, he's getting out and arguing, hey, guys, you need to get your ballots in early. you're starting to see returns, pennsylvania, virginia, that are much better in terms of republican vote than we saw early in 2020 -- stuart: can you tell from that early voting? >> yes. that's why i think it's really interesting to look at the dollars that are coming in.
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super data analytics nerds, as you like to call them or i do, will dive in and look at that data, and i think they see it as very bullish for trump. that's the money moving on to his side, and ultimately i believe it's a three letter election, economy, border, crime, and economy gets distilled through that inflation if maghame tiew.d people have less money than they did when trump was in office. everybody's got an effective tax increase, whether you're rich or poor, it count matter. i think that's ooh going to be the determinative in the big ten states of michigan, wisconsin and pennsylvania. stuart: listen to what tim the walz said about young male voters going to trump. listen to this. >> i'm talking especially to the guys. you keep hearing about this gap on there? i refuse to admit that's real. i know these issues matter to you. i need to get especially young men if out there to vote. this is not damn wwe type stiff stuff. [laughter]
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it's not about, well, it's cool when he talks like this. it's the not cool. it hurts people. it leads to violence and undermines our system. i guarantee you i can shoot better pheasants -- [cheers and applause] i guarantee that. stuart: wait a minute, he says the gap isn't real, but it is the real. [laughter] >> gap's very real. and what i would love to hear him or kamala harris asked, in fact, bret baier's looking for question ideas, really election, to me, boils down to men being under attack very often. and masculinity itself being under attack. joe biden's never answered question, kamala harris never answered this question, do you believe men who identify as women should be able to play and win women's sports championships? it's a really simple, foundational question. they won't answer it probably because they're worried about alienating the trans community. but i think that question at its essence, many young men out there, just look around and feel like they're out of touch with the world as a whole because they see this as crazy.
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stuart: reminds me when a senator asked a berkeley professor if, can a bioroj call male have a baby, and she said that question in itself is dangerous and incites violence. >> yes. stuart: clay, thanks for being with us. >> hey, thanks as much. appreciate you guys. stuart: i see a slippage for the dowvilles. closed at a -- dow industrials. modest green for the s&p and the nasdaq. mike lee is with us today. yeah, this man is the perennial superbull. you know, you've been right to have -- so far, i'll give you credit for that. next question, how far does this bull market run? >> stuart, i think we could get easily another 5-10%. a few reasons. the market really turned positive when jensen huang went out and said for every dollar somebody spends like microsoft or google or amazon on a nvidia gpu, they can turn around and rent that for $5. so this profitability in the a.
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i. trade is here, and it's the here in a happened over fist type manner -- hand over fist. and on top of that, you know with, you were just talking about the polling for the election. i don't think the analysis is correct. donald trump the has moved over 8 points in the real clear polling average. of course, he lost the popular vote in the last election by 4 points on a razor thin electoral college margin. this election is not very close. the republican trading baskets that ubs and goldman have are hitting all-time highs, so i think there's a great degree of optimism around that, and clay travis just mentioned the betting markets are now at kind of the widest gap in the polymarket of trump versus harris. so i think that's what the market's betting on. i think that's a lot behind the breadth we're seeing in this overall rally. stuart: it's remarkable, the relationship between the election and the market hitting record highs, election in three weeks. i want to talk about palantir. for the last two weeks, you been
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saying it's the best investment opportunity of your lifetime. it hasn't moved much. it's at 43. when you started talking like this, it was 39. how far's it going? if. >> stuart, in the short term this is anyone's guess. it is super expensive. it's trading at about roughly 30 times revenue. however, that's because of the runway in front of it, the addressable market for which this company could go after a is in the hundreds of billions of collars. right now -- dollars. right now it's only doing a little over $3 billion in revenue, but this is the game-changer in a. a.i. this is software play. software as a service company are always a more expensive than just about everything else in the overall market. so i think if you hold this for 3-5 years, you'll make many multiples on your money. stuart: five years, all right. [laughter] some older folks have a problem with a 5-year time frame, but that's not the story. mike lee, hanks for joining us this morning -- thanks for joining us.
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coming up, "the view"'s sunny hostin says it's not kamala harris' fault she's slipping in the polls. >> kamala harris has been running a flawless campaign. i think we have the press to blame for a lot of this. whoopi, what you say you don't believe in polls? if i'm with you now. stuart: she blames the press. charles hurt is here to react to that. trump's momentum gaining ground. the average on the betting markets according to real clear politics is that trump will win. it's the his ig d biggest lead since biden dropped out. newt gingrich will join us after this. ♪ ♪ (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: 14 minutes to go, the dow is down about 100 points but a little bit of green for the s&p and for the nasdaq. you've got to check the price of oil again, and now it's down $3, back to $70 a barrel. as we said, israel will not attack iran's oil facilities. down comes the price of crude. oil companies can expect those to be coming down as well and, yes, they are. exxon concern okay. when they've got a premarket quote, you'll see the that they are down. tonight donald trump is going to rally in battleground georgia. aishah hasnie is there. aishah, what is trump's pitch to peach state voters? >> reporter: hey, institute, good morning to you. it's got to be the economy. that's what everyone wants to talk about in these big battleground states. it's the grocery store prices, the kansas of really everything including -- the cost of really everything including energy. and the former president talks about lowering energy prices to tackle inflation. this is what he talked about
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last night in pennsylvania when he was tackling what he would do with china to try to get them to buy food from if farmers. watch. >> i had a great relationship with president xi, and he's a fierce man, and he's a man that likes china, and i understand that. but we had a deal, and he was perfect on that deal. $50 billion, he was going to buy. we were doing numbers like you wouldn't believe for the farmer. but the the farmers are very badly hurt. >> reporter: so let's talk about voter turnout, because trump needs a solid is turnout in this state that went for biden in 2020, also sent two democrats to the senate. he's getting some help from popular golf brian kemp here who's been fund raising for him, using his ground game machine to to get out the vote. and i'm also a told by former senator kelly leffler's staff that she's also been out there registering a lot of conservative voters, over 40,000 now new voters since 2021 is. they're targeting people like black americans,
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hispanic-americans, asians, young voters. they see the biggest potential amongst those hispanic voters, black men and young voters. now, stuart, today is a big day here in georgia, in the peach state, because it is the first day of in-person early voting. the trump campaign has been really strong on this out on the campaign trail really in every battleground state, really, really pleading with supporters to get out and vote early, something that democrats do really well. stuart? stuart: aishah, thank you very much, indeed. now, according to oddsmakers, trump is the favorite to win the the white house in november. he has a 544 -- 544.9% chance of winning -- 544.9%. harris currently trails by more than 10 points. former speaker of the house newt gingrich with we me now. can trump keep up this momentum? >> oh, sure. look, he has three issues, the economy -- including inflation -- the border, including all sorts of illegal
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aliens and crime. if he just sticks to those three day after day, that's what american people care about overwhelmingly, the american people feel they were better off under trump than they have been under biden and harris. and those three issues are the dominant issues of this campaign. he wins on all three, she loses many all three. stuart: kamala harris will sit down with bret baier tomorrow. this will be her first interview on fox. my personal if opinion is that this is a move of desperation on her part. he's got to do something. what say you -- she's got to do something. what say you? >> well, sure. you see it happening all around. look, when barack obama ends up lecturing young black men, literally browbeating them, it tells you how much trouble they're in. if she can't carry her base, and she can't, she has no space to expand, she's a terrible
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candidate. you referred to it earlier, that whole answer yesterday about the stars and the constellations ant what she was talking about. carville it would me one time that he went in to see al gore and said i'm your con consultant, i can't figure out what your campaign is about. how do you think citizens are going to figure it out? i watch kamala harris and i think this is a person who's not ready for prime time. she shouldn't be on national television, and she can't do it. she cannot do it. she can't deliver. stuart: but what do you want the hear from her? solid answers to probing questions? do you think we'll get solid answers? [laughter] no. >> here's just -- she has two huge problems. first of all, in a really dangerous world with war in the middle east, war in ukraine, gangs coming in, fentanyl, you nail it, he doesn't -- you name it, she doesn't feel like a strong leader. that's number one. number two, if she answers
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honestly, for example, in the whole transgender issue, if she says, oh, i'm against transgender males competing in women's sports, she'll have her entire left in an uproar. on the other hand, if she says i'm in favor of transgender males dominating women's sports, she'll lose about 80% of the country. so she's caught between a radical base that is very militant and about 80% of the country which thinks they're crazy. and that's why she dances. she can't stop the dancing or people will realize who she is. and either way he loses. stuart: have you ever seen a presidential election like this with three weeks to go? >> no. stuart: you're having fun, newt, i can tell you're having fun. >> maybe lincoln in 1860 when there were four different candidates. [laughter] you have to go back. that's the only one i can imagine that resembles this. and, of course, trump is perfectly made for this kind of a campaign.
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stuart: yeah. >> he campaigns seven days a week, he thinks about it 24 hours a day. he has enormous energy, and he has figured out the rhythm of what it takes to make america great again, and it happens to be what the american people want. stuart: newt, thanks very much for being with us today. hope to see you a lot more before the the election. good to see you again. >> look forward to it. stuart: newt gingrich. next hour, we're going to be joined by bret baier himself, he's going to preview his sit-down with harris for her first formal fox news interview. check futures real fast, please. the dow is on the downside, minor gains for the s&p and for the nasdaq. the opening bell is next. ♪ i got this crazy feeling keep inside. ♪ if when you called and asked to see me tomorrow night ♪
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stuart: the dow is down, this is premarket, about 137 points. some of that is accounted for by unitedhealth which is a dow stock that is down. but the s&p and the nasdaq have fractional gains. jacob sonnenshein with me this morning to carries through the market. -- carry us through the
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markets. you use the expression the market is melting up and we should all be in the market. okay, what should i buy? >> yeah, i would say banks. this is not a lot right now that is kind of beaten down, as cheap as it could be historically. but when i look at companies that could, sectors that could benefit from a better yield curve, 10-year yield moving up, short-term rates moving down, the fed has made clear it has the economy's back. when i look at loan volumes, the yield curve, the type of spread that banks could make, you know, 12 the months from now relative to today, i actually would say go for system banks. stuart: -- go for some banks. stuart: the risk is limited, correct? >> the risk is never limited with bank stocks, but i personally am so confident in the economy was the fed has put in what we call a fed put. the fed has made clear if anything slows down too much, if inflation dips to 22%, it has -- 32%, that they will step in and
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cut rates. so buying something cyclical like a bank, to the me, is actually or -- it's a decent time. stuart: i'm looking at the screen right now, 4.8% on a 1-month treasury. why don't i just go into a short-term treasury fund, yield by 4.8% and walk away dead safe? what's wrong with that? if. >> if you stay in something like banks for three or four years, those earnings are going, to go up a little bit. the dividends are going to go up. they're going to buy back stock, i know there's regulation, but they're still going to buy back some stock. you're going to get an appreciations earn earning -- earnings agreement. stuart: okay, i'll move on. you wrought some stock picks, you like lithium miner albemarle. what's with lithium in. >> well, one of the biggest buyers of lithium is china. and if i have tens of billions of dollars being poured into the banking system in china and that's, you know, fairly
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significant, it's not nothing for their economy, the price of lithium is at, just above 7,000 right now. it's skidding along a bottom. it has been at 11,000, 12,000 in the last couple years. if china gets some momentum -- and this stimulus is a new thing for china for the last few weeks here. we haven't seen any of it flow through. i look for the price of lithium go up a lot. revenue for albemarle will go up even more than the price, and they get a lot of leverage to the bottom line. stuart: jacob, thanks for joining us. the market is about to open. we say it every day, minute's going to jump or forward and press a button. that will mean the market is open. watch him press that button, please, do it now. thank you. the market is open. the dow has opened with a loss. you're down about 80, 90 points. i'm pretty sure that a good deal of that loss is unitedhealth, which we will get to shortly. right now we've got the dow down about 80 points. but a preponderance of green among the dow 30.
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pretty widespread buying this morning. the s&p 500 on the upside, i do believe. yes, it is, ever so slightly. virtually dead flat to slightly higher, call it. the nasdaq composite, pretty much the same story, kid flat to slightly higher -- kid flat to slightly higher. big tech, where are we? top of the list, apple. it is up $1.60. microsoft up $1.700. alphabet up 48 cent. 578son, meta on the downside. big bank earning, some of them came out before the bell. good morning, taylor. start with goldman, please. >> good morning. at a record high. equity trading the best in three years. volatile markets mean the traders are really showing up and surging profit for this company. stuart: they made a lot of profit out of trading. >> yep. stuart: bofa, good or bad,s the up. >> much better than expected. trading in this having till environment, investment banking is a win, so the deal market is open and they're capitalizing on it.
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stuart: how about citi in. >> also did well. trading boosting expectations, the best quarter that the trading market has had in three decades. this has been a big turn-around sock. they are doing it. heir taking advantage of this volatility and making money when you and i are all trading, they're trading along with us. stuart: all the banks are making money. a good base for the overall a market, i'd say. what's this about -- president biden is considering capping nvidia chip sales. that's news. >> this is. they're targeting maybe the middle east area. they're highlighting national security. remember, we've talked a lot, stu, about the middle east opening up a lot of data centers. they have the big land. they want to be fueling the power to fund all of this a.i. from the market perspective, we're thinking, okay, but is there a national security concern there. so the biden administration weighing very, very early, preliminary talks about capping some of the exports of nvidia and amd to that region. >> i think they're worried about nvidia's chips going to the middle east and being siphoned off to china.
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i think there's some concern about that. by the way, nvidia just turned higher -- >> a record high. stuart: thank you very much, indeed. trump has just launched a crypto token,. wait a minute. is that a crypto coin? and the -- you're nodding your head it is. how different is it from bitcoin? >> yeah, it is the very different. just give me a second. this is world liberty financial. think of as a platform where we can buy and sell crypto, and it's all about stable coins, a coin pegged to the u.s. dollar. his whole goal is trying to help people who feel debanked cut out of the financial sector, this is a way to participate and get involved. the token, it's just a governance token, so t not like a real token. but it will help them raise money to fund their project going forward. it's complicated. stuart: it is -- [laughter] >> i know. stuart: i've got a partial grip on that one, okay. i've got a buck says djt is up again. yes, it is. trump's up in the polls, up goes djt. >> two weeks ago a we were
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talking about the low of the stock, $11.75, it's up 150 percent if in three weeks, up 50% last week. up 18% yesterday. the rally continues. stuart: it sure does. $31 a share right now. good sufficient. now, we did get some health care earnings before the bell this morning, included was unitedhealth. they're a dow stock, and they're accounting for some of the dow's loss. now, what's the problem here? that's down 9%? >> yeah. a big problem for the company, medical costs are rising, and government reimbursements for things like medicare are falling. so all of the little bit older people, i will say, who have wanted to go out and get those procedures done that they didn't do during the pan if chem ig, that's great -- pandemic, that's great, except that's costing unitedhealth a lot more money. they're under pressure. stuart: unitedhealth down 9 president. what about walgreens? >> a similar story. really good earnings. as you can see, they're up 14
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percent. this is a relatively new ceo who says they're facing some really big struggles in the retail sector. hay want to close about 1200 stores, focus on how they are reaching the consumer in that that retail space with walgreens. but overall sort of the med-tech division doing well. stuart: has it got anything to do with shrinkage, shoplifting, locking everything up. >> and you don't know the location, but we'll find how. stuart: we'll find out. johnson & johnson. >> that's the med-tech that's doing well, with johnson and johnson. remember, this is a drug maker, a medical devices company. beating expectations but a little concern about the legal overhang when it comes to that talc, the baby powder. some of that's still in front of hem, and analysts are concerned that's an overhang on the stock. stuart: down a fraction, okay. i'm interested in this story. google is moving into nuclear to power its data centers. i think that's very big news for the nuclear industry. >> very big news. i'm sitting here, what was this, two weeks ago when we were
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talking about moth doing a deal with constellation energy -- microsoft -- google took note and thinking about doing the same deal. i think it's called cairos power. it's a start-up, and they're talking about building about six small reactors which would supply electricity for data centers to power a.i. so i'm viewing this as, again, google looking at the power needs of a.i. and saying we need to help fund the source of of that electricity. stuart: that's fascinating. a small nuclear reactor dedicated to a giant data center. not for homes in the area, just that data center. and they've got seven of hem? >> i think six. no, you're right, it was seven. stuart: that is a breakthrough for nuclear. taylor, thanks for joining us. always good. here's what we have coming up for you. clip op, the as in bill clinton, suggested murdered georgia nursing student laken riley would still be alive if the border had been properly secured. roll it. >> if they'd all been prop
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preponderancerly vetted, that probably wouldn't have happened. stuart: what clinton the failed to realize is that the murder suspect entered the u.s. illegally in 20203222 while harris was in charge of the border. kilmeade on that. los angeles mayor kane bass insulting voters with these comments -- >> people do have short-term memories. it's about a reminding people of what the four years under the trump administration was like. stuart: were they that bad? leo terrell will remind us what the trump years were like. trump making this promise to to voters about their energy bills: >> we have more liquid gold under our feet than saudi arabia with, than russia, than any other country. i'm going to bring down your energy costs 50% in the first year. stuart: well, that's an interesting idea, bring down your energy costs 50. economist john lonski will join us. can trump get that done? we'll be back. ♪ somebody told me you had a boyfriend -- ♪ who looked like a girlfriend
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stuart: all right, 11 minutes' worth of business now, the dow is down 2500 points, concern 250 points. check out boeing, please. they have struck a deal, barely moving, up 60 cents. they've struck a deal with banks for a $10 billion credit line. the workers' strike is hammering the company's finances. not much of a recovery there. despite questions over demand, the ceo of stellantis the says automakers should not delay the transition to electric vehicles. jeff flock with us this morning. jeff, what is his reasoning? >> reporter: well, his reasoning, stuart, is that electric vehicles are inevitable, so you've got to
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pull the band-aid and just go ahead and get on with it. tavares in paris right now, we've got pictures of him there. he's been saying, you know, listen, if you go slow with a transition, it makes manufacturers make electric vehicles, gas-powered vehicles, hybrid vehicles, it costs too much. and he also says he thinks climate change is going to force this. here's a quote from if one interview he did at the show, paris show. i think that if you ask to delay, it means that all of this is not a significant problem, climate change. so the fires, the flooding, hurricanes, all of this is not a problem. we want to be on the best side and the right side of history. and so they're going forward, stellantis is, with a whole big electric lineup. gm and ford have pulled back a little bit. not these guys. the wagoneer s is about to come out, another new model called the recon. the fellow that owns this kip here says if that was a gas-powered vehicle, i could sell a ton of them, but the
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electric one, i'm not so sure. one guy on the dealer council of dealerships says the pain, it's disastrous. the pain will not be confined to the company and its investors. your network, the employees, your suppliers and your own work force, everyone or will suffer the consequences of these disastrous choices. i leave you with one other thing, note, and that is when it comes to evs, you know, a lot of people say nobody wants an ev anymore. that's to not true. in the third quarter, ev sales were up another 11%. they now make up about 9% of the share of new vehicles sold. so there you go. the debate continues, sir. stuart: it sure does. and t not going to stop either. jeff flock, see you again soon. first if lady jill biden says kamala harris will lower prices. watch this. >> that is kamala harris. [cheers and applause] a tough, compassionate, decisive leader. but what's kamala going to do
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about my grocery bill? well, prices spiked during the pandemic, remember? but now corporations are keeping those prices high. kamala will lower prices. she will fight back against greedy corporations and crack down on price gouging. stuart: okay, okay, i've heard that before. [laughter] economist john lonski joins me now. okay, john, do you think president harris could just snap her fingers and miraculously lower prices? >> absolutely not. stuart: thank you. >> that's wishful thinking. stuart: she's got it wrong as well. prices didn't start to spike during the pandemic, they started to spike after they spent all this money unnecessarily, am i right? >> that's correct. we had all of these individuals and businesses receiving money basically from the government for doing nothing, and when you pay somebody to do nothing and they spend the money, prices have to go higher. stuart: you can't jawbone prices down. you can't say, hey, you're
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guilty of price gouging, we're going to investigate you. that won't bring prices gown -- down, will it? >> it'll never work. look at the food industry, groceries. that's a very competitive the grocery. they are suggesting it's a monolith, that there's a bunch of grocery chains that set prices. that's far from the case. highly competitive industry, they want to win market share. they want to have selling prices as hoe as possible. as low as possible. stuart: next one, trump says there is an ease she solution to energy prices -- easy solution to energy prices. heres. >> we have more liquid gold under our feet than saudi arabia, russia, any other country. i'm going to bring down your energy costs 50% in the pester year, 5-0, 50%. [cheers and applause] and i better do it, because i'm all over the place saying -- the. [laughter] i'm going to have problems if i don't get it done. but we have all the capacity to do it. nobody else can make that statement. stuart: can he do it? can he do it? >> no no. tour source we're already
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producing more oil in america than we've ever paused before. >> the average price of gasoline right now is $3.30 per gallon, so trump is suggesting that within the next 12 the months he could get that down to $1.65. the last time gasoline sold for $1.65 a gallon on average nationwide was during guess 200e know what was happening to this economy december 2008. it was going down the tubes. privateer that it would have to be -- prior to that,s it would have to be early 2004, first quarter 2004. at that time, however, the average wage was $18 per hour, today that average wage is $35 an hour. if you think you're going to slash energy prices, gasoline prices by one-half from where they currently stand, you either need much lower wages which nobody wants, or you need a deep recession. and that or, again, is nothing we would care for.
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stuart: that put the lid on that one. john lonski, economist, thank you for join us. >> thank you, stuart. stuart: see you later. now this, kamala harris just released new ads targeting asian-americans. madison, what cosay they? >> reporter: that kamala harris would be better for asian-americans than really anyone on the economy. she's trying to solidify support with that group because it is a key voting bloc. we're going to run some of the ad for you. it features five asian-americans making the argument that trump has, quote, a plan for himself while harris has a plan for the economy by lowering the price of housing, banning price gouging like we were just talking about on groceries and tax cuts for new businesses. now, according to recent polling, asian-americans support harris by a 2 to 1 margin. there are. 1.3 million asian-american voters in critical battleground sates line r including arizona a, georgia, michigan, north carolina, pennsylvania and wisconsin. we know those states are going to potentially decide this election. but we're starting to see some
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asian-american voters pivot to trump. i saw this last week, and i found it fascinating. trump has picked up 8 points with korean voters since the spring. he's is trying to -- harris is trying to prevent that. the reason being, 82 of korean-americans say they're absolutely certain they'll vote. think about that, 832% saying they -- 832% saying they will absolutely vote. frankly, one of the most active voting blocs period. stuart: and they are swinging to trump. >> reporter: they are. still majority haste but moving towards -- harris, but moving towards trump. stuart: fascinating. coming up, harris' campaign of joy, opportunity and hope, well, okay, but new fox power rankings show that harris has lost her lead despite a joy campaign. and, by the way, the campaign pain has turned from joy to fear, that's my take, top of the hour. tampa bay has seen a recent building boom, but most developments located on low-lying ground with poorly developed drainage systems.
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the full story on that next. ♪ well, it was kind of cold that night as she stood alone on her balcony. ♪ yeah, she could hear the cars roll by out on 441 like waves crashing on the beach he can if muck and for one desperate moment ♪ muck muck (♪) (♪) voltaren... for long lasting arthritis pain relief. (♪)
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stuart: florida's tampa if bay area has seen a building boom in recent decades, but it is also one of the country's most blood-prone areas. ashley webster is in cortez, florida, for us. ashley, take us through one of the newer homes which i believe has been built to code. >> reporter: this particular development, stu, we are a stone's throw away from the ocean and almost where hurricane milton came in. but when you look at these homes, you wouldn't believe it. it's like nothing has happened. if you could see outside of this area, you'd see the devastation. these homes are built well above code. cold would say 3 feet above sea level, these are 7 feet above sea level. this video was taken 11:00 at night on the wednesday night, last wednesday, when milton came ashore, and you can see in this particular development water was covering all the streets, but it never made it anywhere close to the homes themselves.
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and then 12 hours later, thanks to the drainage, you can see the roads are bare. so in other words, it passed the test. these homes, stu, they're built very, very solidly, concrete from floor to ceiling on the first floor, it has foam insulation to the attic, top grade windows and doors. all of this, of course, actually very necessary because when you think about it, we've had four hurricanes come through this very area in just the last two years. very quickly i want to bring in william fallford who you were one of the first people the buy a home here, william. you rode out all of those storms. why is that? >> well, i was a contractor back at home. i built custom homes on the beach and the oceanfront, virginia beach, and i watched the construction from day one. i actually talked to the engineer and the architect before they ever started. >> reporter: right. >> they just finish. >> and they passed the test, right? >> they told me what i wanted to see. and as the construction was
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started and, actually, my house was the first being built. i watched it from ground up. >> reporter: very good. a former builder giving his recommendation. but, stu, these have solar panels and batteries inside the homes. they never lost power when everyone else for miles around did. i know the question you're going to ask, how much? $1.25-1.8 million. so for the masses, it may be a little expensive, but the technology here, they hope, will be able to transferred to more modest homes and of course, ultimately, make people safe as these continues continue -- storms continue to rage onshore. stuart: good stuff. ashley, thank you very much. still ahead, israel plans to strike iranian military targets, not oil or nuclear facilities. kamala harris will sit down with bret baier tomorrow. nasa spent billions on dei, they still can't compete with
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