tv Varney Company FOX Business October 21, 2024 11:00am-12:00pm EDT
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before. ever. yet again we have new york city with very favorable weather. lauren: big time new york city apparently. stuart: whatever you say. sunshine for the whole week with a glory yous 74 and it's going to continue. 11:00 in the morning and it's monday, october 21st. check out the market. more and more red ink as day progressing and s&p down 21 and nasdaq down 45 points. big tech, mostly nvidia, amazon, alphabet up and amazon and microsoft down. investors at 416 and moving up 7.9 basis points. and now this, one private citizen having an early intervention program pact on the election and maybe it was inevitable since elon musk has an outsized fortune and outsized personality. he's all in for trump.
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on saturday he gave a check for $1 million to an audience member who signed his petition pledging to support free speech and bearing a arms and sign the petition, you're in the lottery. he'll do this every day for the next week in pennsylvania and a million dollars a week and they questioned its legality. musk is doing it. they're upset when musk is the size of power and government bureaucracy and if trump wins and for the deep state and tesla is the most most parent company and star link is becoming the most important global communications company and last week spacex launched a new era in the space business and
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secretary of cost cutting he'd be going up against the regulators that are trying to reign in his businesses. musk says a trump win would innovate more liberty. he pays the people to knock on doors. the democrats cannot match this kind of star power, financial power, and policy power that musk brings to the campaign. they have the usual hollywood celebrities and this week harris will sit down for what is described as moderated conversations with former republican congresswoman liz cheney. coming to influencing votedders, musk surely beats all of that hands down. third hour of varney starts now.
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stuart: guy benson is here with me. what kind of effect does he have on this election? >> i think it's a profound affect. i was thinking how elon musk would be truth treated by the news media if he was on the left and supporting the harris walz ticket and he'd be maybe the most harolded person outside of the ticket and he's saving the planet with electric vehicles and taking us back into space and he's the everything you could possibly imagine larger than life. every glossy magazine cover and thinks differently and he's on the wrong political team, he is in the rhetorical cross hairs from these people and almost public enemy number one inspite of all the good he's doing and
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the work in the companies. stuart: he's having impact as well. >> he seems to be enjoying it too and drives them all the more crazy. >> clearly they have a strategy trying to appeal to working class voters and twist the knife on harris, but i find the images to be jarring. >> what is so striking is he's not trying to not be donald trump. he's still so clearly himself, and i think this was an unbelievably smart move. >> he's being himself. >> that's the word jarring and that's great and because it's donald trump putting on the app
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ron and serving french fries, somehow it just works and just makes sense. you can tell he's loving it and he is a big mcdonalds fan and i think a human cry we're hearing is people are mad and it's because i think they stay at the images and viral and successful and it's fun. it works for him. that's why they're upset. stuart: he was asked which mcdonalds item do you like best? he said i love it all. back to the markets, please. red ink mounting for the dow industrials and brings me 300 now and s&p down 30 and nasdaq down 73 points. jason katz with us and check out this monday morning. up till this moment, i was going to ask what was driving the market forward and it's been
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going up consistently and now it's a bit of a pullback. what do you make of this? >> do not have a case of the mondays and goldman sax talking about muted -- goldman sachs talking about muted returns and 47 records this year and six weeks of new highs so at some point, mark, take breathers and not to mention the fact like i said last week, we'll tense up a bit heading into the next two weeks into the election. stuart: you keep telling us the path of least resistance is up and with the financials doing well, that confirms the rally is not over yet. >> yeah, no one has better insight into the economy than the big banks. when they reported earnings last week, the management team said capital markets are improving. they're saying their net interest margins are interest rates that are going lower.
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cash comes off the sidelines and empowered and looking at soft landing that's probably a no landing and meaning it never really even hit. stuart: would you make a judgment as to who's the better candidate for the market, trump or harris? can you get into that? >> suggesting at a minimum, you get divided government and potentially you get a trump victory. stuart: that's the key, isn't it? divided government investors love it. it's always been true. >> nothing too severe. stuart: it's up fourth or fifth
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week in a row. jason, thank you very much indeed. lauren is looking at movers, including target, which is down. lauren: retailers are having a tough day today. there might be worries about the consumer and the strength of the consumer this holiday season. best buy put out their black friday deals and they're going to begin in a couple of days, november 8. look at these stocks, target's down 3.5% and best buy down 2.13%. stuart: coin base. lauren: bitcoin down more than 2% and these stocks are down and pointing out this month and coin base up and it's up 30% and they're up because the trump presidency wowed likely benefit them and it's the policy of putting all the u.s. reserves and going in reserve. stuart: then boeing with a
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temporary deal. lauren: the annual vote on the new deal and announcing their latest quarterly report card and that deal proposed includes a 35% pay hike and it would end if it's approved this month long strike and estimated to cost boeing $1 billion per month. stuart: hopefully it's over. lauren: yeah. stuart: for boeing's point of view. coming up, senator lindsey graham has update for the republicans and endorsing kamala harris. >> what the hell are you doing? you're supporting the most radical nominee in the history of american politics. when you support her, you're supporting four more years of garbage policy. stuart: it's full criticism and going to leak the toxic document and deterring israel's planned strike and how did that happen. u.s. intelligence and morgan ortagus offering her analysis next.
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it's our son, he is always up in our business. it's the verizon 5g home internet i got us. oh... he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fall? he's going to college. out of state, yeah. -yeah in the fall. change of plans, i've decided to stay local.
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oh excellent! oh that's great! why would i ever leave this? -aw! we will do anything to get him gaming again. you and kevin need to fix this internet situation. heard my name! i swear to god, kevin! -we told you to wait in the car. everyone in my old squad has xfinity. less lag, better gaming! i'm gonna need to charge you for three people. stuart:ize reel is bombing banks tied to hezbollah in lebanon. trey yingst is in haifa for us. trey, has hezbollah responded to these attacks? reporter: yes, stuart, good morning. they've not yet responded but overnight israel launched a series of air strikes against banks across lebanon linked to hezbollah. smoke could be seen rising from the lebanese capitol and explosions targeted the stronghold and one location near the airport. in addition to beirut, the bikkah valley saw new strikes and senior israeli official briefed media after weakening
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hezbollah's ability to finance the war against israel. on the ground, israel is continuing to push deeper into lebanon and new soldiers entering each day and they're firing hundreds of rockets over the border this weekend and northern front remaining active and special envoy is in bay root today for -- beirut today for meetings about a path forward to ebbed the war and israel gave them a document with the ceasefire and along the demands is that israel wants to maintain an ability and conducting raids in lebanon in what's referred to as active enforcement of agreement and israel's southern front remains active and new palestinian civilians taking place in ground fighting between israel and hamas ongoing and this weekend three israeli soldiers killed in gaza including israeli colonel serving as commander of 401st brigade and the colonel is the highest ranking israeli officer killed on the ground since the invasion of gaza
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began. israeli forces continue to fight inside gaza and lebanon, all eyes on iran as israelis are preparing to respond to that ballistic missile attack earlier this month. stuart. stuart: trey yingst, thanks very much. now this, the u.s. is investigating a leak of classified documents on israel's planned strike against iran. former state department spokesperson mo morgan ortagus s with us now. what's the significance of that? is there a mole inside u.s. intelligence? >> it's incredibly bad. what was leaked on telegram, what we know from publicly available information looks like it was official and special agency and putting it in context it's the highly classified material that the u.s. government is in possession of and unfortunately going for them and not only leading the biden administration and going back to the obama administration and the administration going for 2012 about israel's plans to attack
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iran's nuclear fade pattern 'til seizure disorderses and -- facilities and i believe the bama administration likely leak that had and wanted jcpoa, which was the iran nuclear deal and going for them and unfortunately there's a patted earn of this behavior. i think this should be prosecuted at highest levels. we're talking about top secret information and highly compartmentalized and whoever leaked this should go to jail for 30 years. stuart: would be somebody probably inside u.s. intelligence with access to highest level security stuff. >> could be intention professional and policy professional as well and intelligence professionals will have access to this information if they are read in. on the policy side at the white house, state department, those -- there are a limited number of individuals that would have access as well include ago good department of defense and it should be a smaller number of people that have time on the
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information and should be like thousands of people going for them and one thing that's really important to note, a leak like this make it is dangerous, what makes the operation much more dangerous for the israelis and it poults everybody at risk whenever operational details are leaked ahead of time. stuart: israel is blowing up banks and firing rockets at banks in lebanon and going for the financial structure of the u.s. government by the treasury department and for the funneling of aiding and abetting of the illicit financing and we have targeted these in the united states going for perspective and israel making it very clear as it relates to hezbollah and hamas they're going to work to destroy them militarily and operationally and i spent many, many years at treasury department so i can tell you one of the key ways that you try to
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take down terror organizations is by going after the money. no what ther who funds the organization and how did they get their money and bank ledger going for them and these banks in beirut and for lebanon and operating for the normal financial sector and that put as red flag and banks that operate in the u.s. dollar arnold the world and operate up with these banks and i think it was a very targeted and important strike to cripple hezbollah financially if they can't get the money, then it's harder to get the weaponry and hard to pay the fighters. stuart: do you get the sense that the american administration is still restraining netanyahu's response to iran? >> i mean, i think they're certainly trying, at least again what i'm reading from publicly available information, there's no doubt that an attack on iran's oil infrastructure will be controversial and i think from what we know from public
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reporting, attacks on their nuclear facilities would be incredibly difficult for israel to do alone and it's clear that president biden indicated he has no appetite in the u.s. helping or participating in such a strike. but we've seen the pattern of behavior and biden and harris usualing netanyahu not to go into raffa fade pattern and the hostages and ultimately -- rafah and ultimately where they were able to get sinwar and telling them about their operations and advance and certainly none of the hezbollah operations and the ukrainians frankly made the same decision and helping this administration and our allies tomorrow unfortunately are worries that leaks on it and it's overnight and getting this information going with that and
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stuart: got a move around a bit and have a look at price of oil. and going it $70 per barrel and going to check out the energy names and minor games for some of them and losses elsewhere and price of oil virtually unchanged and it's all weighted and listen to this. >> often don't have useless skills they'll they can apply afterwards and not have this idea that to be successful you need to have a four year in college. stuart: we're going to tell you what the tesla ceo thinks young people should consider doing instead. on cnn white folks need to be held accountable with kamala harris losing in november and she says democracy is at risk. lisa boothe going to respond to that, next.
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stuart: more red ink and down 370 on the dow and 100 orphan the nasdaq and perhaps the yield on the 10-year treasury is moving up and not sure the real reason here. lauren: on wednesday tesla is the first of the mag 7 to report and lower margins and its first ever drop in annual deliveries. aside from cyber truck is going to need stiff competition from china. 1.8 million vehicles stuart: then uber and lyft. lauren: offering 50% off to polling stations on election day
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and tuesday, november 5 and not when early voting begins and they're doing it on actual election day. stuart: thanks. trump said he'd consider eliminating it's an off hands suggestion and not a real policy change, is it? >> campaign and the former president himself and putting this in part of the formal policy proposal and fire ffirefighters and either taxes absolutely eliminated and as you know, stu, not a firm proposal and state queening that trump thinks about and asking during an interview and former president has proposed making interest on car loans, tax deductible and eliminating taxes on overtime and tips as well as
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social security and >> corporate tax rate and going 21% to 15 and again only for those who make the product in the usa. reporter: 28% from 21% and the child tax credit to 6,000 and giving first time home buyers down payment assistance and harris also took a page out of trump's play book and proposing no taxes on tips and attacking his tariff proposals. >> his plan for what i call a trump sales tax would be at least a 20% tax on every day necessities, which the average
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american will pay $4,000 more a year. reporter: taxes are front and center this election and tax cuts former president trump ushered in during his first term and set to expire at the end of next year, stu. stuart: thanks so much, indeed. south carolina senator lindsey graham questioning republicans that support harris. watch this. >> every republican supporting her, what the hell are you doing? you're supporting the most radical nominee in the history of american politics. the green new deal, medicare for all. she was the last person in the room before biden decided to withdraw from afghanistan. she was the border czar and she cast the tie breaking vote for inflation we duction act that gives you high prices. what are you doing? you're trying to condense me and donald trump's rhetoric is the danger to the country. i can't take four more years of this crap. four more years of garbage policy. lisa boothe joining us now.
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what do you think of republicans endorsing harris? >> how much time do we have, stuart? honestly, i'm with senator graham on this. i can't understand it for the life of me. so the so-called republicans abandoned everything they say they believe in just because they hate donald trump. i mean, the irony is a lot of these people proclaim themselves to be very principled republicans, but then you support the woman of price controls and packing the supreme court she was the most liberal united states senator and to me republicans voting for her and have no principles whatsoever and trump hatred.
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>> it's wonderful that president bam is out hitting the trail for democracy frankly. what i think is a mistake is to let white folks for not showing up to save democracy themselves and respondent of saving democracy should be are the largest demographic in the country. that's white men and white women. >> it's pretty in line with the democrat party to demonize white
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people. it's what they constantly do to try and drive race-based politics and also i think people have sort of let go of this -- first of all, we're a constitutional republic and not a democracy and people sort of let go of that lie after democrats try to beat the january 6 drum beat and particularly after donald trump press assassination attempts and remove him from the ballot and try to jail him and bankrupt him they claim to care about democracy and america can see through the nonsense and lies at this point. >> stuart: looking for excuse of donald trump running the fryer machine. so i'm going to do it. run the video. where do you think of trump's visit to mcdonalds. does that help his momentum? >> it's clear she lied about
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every working. >> it's nice to see them humanize and interact with people and this is a guy that's so funny and likable and media were honest about him, he'd upward mobility in the polls by ten points at this point. interacting with fellow americans and care about the country. he's a very good candidate dmo this election. lisa boothe, thank you for joining us. >> retail politics. stuart: lisa, thank you for joining us. see you again soon. donald trump was endorsed by mcellroys of a local steel workers union enjoying a rally in pennsylvania. why are they backing him?
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ashley: they believe mr. trump will protect them from other steel producers like china. watch this. >> president trump stepped in and imposed those tariffs on the chinese going with them and many of them going for them and shut down in the valley in the 80s and we have three mills left in the valley and don't want to see them shut down. >> if kamala harris wins, what does that mean for your industry? >> we're done. >> she decided if she was elected president, it'll be all tariffs, steel tariffs, all time tariffs. we need president trump elected to save our jobs. ashley: there you have it. we're done. speaking at a rally over the
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weekend, if trump wins over the weekend he'll do a built in america policy that will bring more manufacturing jobs back to pennsylvania and the country at large. stu. stuart: thanks, ash. coming up, listen to how kamala harris responded when protesters asked her about supporting israel. >> what about the genocide? >> listen, what he's talking about, it's real. and so that's not the subject that i came to discuss today, but it's real. stuart: but it's real. what kind of message does that send? jason rantz will take it on. the man at center of 2019 college admission scandal and went to federal prison for 16 months and now getting back into college admissions business. that story is next.
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stuart: nasdaq doyne 67 and dow off 358. let me explain that. home depot, travelers and american express, goldman, microsoft, they're all down stocks and they're all down sharply. taken together, they take 218 points off the dow. rick singer was the master mind behind the varsity blues prison scandal. he went to prison. ashley, is he back in the college admissions business now? ashley: he is. the man is out of jail and back in university counseling business, remarkable. matt fin has the latest on --
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matt finn has the latest on rick singer. >> fbi and u.s. attorney and everybody else in the world said i did. i did it. reporter: rick singer took money from parents to debt their kids into college. felicity huffman and laurie lock linn were part of the celebrity parents that did it. >> i want to apologize profusely to the families i hurt and kids i hurt. >> singer sentenced to 42 months and now in la halfway house and alleging his case and schools sought him out to get vip families favors or donations. >> coaches every year calling me saying i got a spot open. i need to raise this amount of money. find me a family.
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>> i'm not that smart to be able to make it. >> he started a new college counseling business id future stars. matt finn, fox news. ashley: that conspiracy led to guilty pleas and convictions and more than 50 people including coaches at several colleges and university of southern california and yale, garage town and, yes, stanford. he's back in the business. stuart: just reignited the debate. what's he saying, ash? ashley: that it's not for everyone and learning a trade is a fine alternative. watch this. >> too many people spend thousands in debt and acquire a skill they can't use and i have a lot of respect for people that work with their hands and we need electricians and plumbers
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and carpenters. we should not have this idea that to be successful you need to have a four year in college. that's simply not true. ashley: musk said a college degree is not required to work at tesla. he also stated college is not necessary for learning saying that most information is now freely available. musk himself by the way holds degrees in physics and economics. stu. stuart: thanks, ashley. the sandwich generation, that's people caring for their children and at least one adult at the same time. more people getting into that? the sandwich? lauren: yeah, mostly millennials and 11 million plus are getting squsqueezed and struggling financially and mentally, e notion malley and aarp said the average age of the sandwich generation is 44. both men and women and there are critical moments in their careers and they have to shoulder the burden of having
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young children that need their help and women are having children later in life and adults are living longer and you get sandwiched and kamala harris proposing medicare benefits for home health workers and donald trump is proposing them too. lauren: thanks,. stuart: check the dow 30 and it's down 300 po points and obvs split in favor and those in red while i've got five winners out of the 30 dow stocks. down 330. virginia governor glen youngkin wants to be taken off the state voter rules and the justice department is sue suing to stop him. we have the full story coming at you. ♪
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committing genocide. instead of ignoring the heck herrera, she dealt with him and seemed to agree with him. roll it. >> what about the genocide? >> i am speaking right now. >> yeah. >> thousands of people including children are dead. 19,000 children are dead. >> listen, what he's talking about, it's real and so that's not the subject that i came to discuss today, but it's real and i'll respect his voice. stuart: look, joining us now is jason rantz. why didn't she push back on the genocide claims. setting up 19,000 children that are dead and that's his number. harris then said we'll be
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hearing from north carolina and why didn't harris go further to counter the claim that israel is guilty of genocide? >> she has a michigan problem and that might turn into a pennsylvania problem. so what she's doing here is trying to have it both ways and throw a bit of crumbs towards the anti-israel crowd and you've got 3% of jewish votedders in pennsylvania generally going in large numbers going to the democrat party. what's been happening over the course of the last year is the
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republican candidate and he's been courting the jewish voters and he's been pointing to some of the inconsistencies with the democrat party and how they talk about the anti-semitism awareness act and so a lot more jewish voters in pennsylvania are starting to think of themselves maybe i shouldn't be voting for this democrat. about 3,000 or so population and it's not a huge population and big number and it's incredibly close and one that biden won by 80,000 votes and i think when you start adding these small numbers up. stuart: donald trump arrived in north carolina and i saw him grab hold of a microphone moments ago. if he's speaking, i want to hear what he's got to say. he's looking at the -- hurricane damage and here he is speaking. roll it. >> january 20th, i think you'll
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have a new crew coming in to do it properly and help you in a proper manner. to every family that lost loved ones, or a loved one, this terrible storm we ask god to give you strength and comfort and peace. you will have comfort and peace. it's been a terrible ordeal, and this area was hit about as hard as anybody has ever seen. to all those homes and your homes have been destroyed, many of you are rebuilding and many of you are going to just start all over again and the communities were ravaged and destroyed. we're praying for you, and we will not forget about you. we will never forget about you. we're going to be working with you for a long time to come to get it together. when i'm president, i'll stand with you until the communities are fully rebuilt every single inch of every property and
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alabama, virginia and tennessee and it was an act of absolute devastation pulling wives from arms of husbands and mudslides and buried entire families and grandparents, dads alongside grandchildren. homes, towns, farms, roads, bridges, schools throughout the region. they now lie in ruin so beautiful, so beautiful an area. so beautiful it was. but you can never forget the death and all of america shares in your sorrow and grief and extraordinary hardship and it's a terrible tragedy we have also seen at the extraordinary love
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and i want to thank them it's a great responder and it's going for that and but with action and harolding with the incredible fire fighter and go with their lives trying to save their neighbors and a lot of heros developed with this and they'll be talking about it for a long time and we will not be forgotten and thanks also to the many wonderful charities and going for so many and the burden of the response has been incredible. in the wake of the horrible storm, many americans in the region feel helpless and abandoned and left behind for the government and the american
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people call much more so than federal government unfortunately. citizens important to bring in food, water, fuel, medical aid, and helicopters and their own rescue standards started and they started at a very high level, credible what tahin done having no experience, they learned very quickly but they've helped so much. nothing is more inspiring than to see the american spirit triple-demic yum f over adversity and acts of generosity and love. one of the patrons that stepped forward to help was adam smith and green beret. he transformed the parking lot of harper lanesly david -- harley davidson into an air base. what an amazing act of citizenship and service and i think, adam, might be here.
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where's adam. adam, come on up and say a few words, adam. [ applause ]. >> thank you very much. thank you very much. i've seen him on television. what a job you've done. thank you. >> thank you to yourself. >> that's been with us since the third day. that's for you and this is the moniker they've given us. >> thank you very much. >> thank you, mr. president. appreciate it. i just want to say thank you for coming. thank you to everybody here. stuart: you've been watching former president trump arriving in north carolina to survey the damage from the hurricanes and to thank the people who took part in all the rescue operations. we just got time for the monday trivia question. and here it is. which presidential candidate had the biggest margin of victory? that's a good one. monroe, reagan, johnson, or roosevelt?
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okay. lauren: no time to think about it. stuart: we have to break to get to. a ashley is definitely first. there's no break. ashley: i look at ronald reagan and think landslide. i'll go with 2, ronald reagan. stuart: okay, the ball is in your court, lauren. lauren: i concur seeing i was alive during that time and about the only one i know. reagan. stuart: could have been ronald reagan, 1984 and could have been lyndon johnson in 1964 right after this jfk. i know he won by a landslide and absolute landslide. enormous majority so i'll go with 3. stuart: james monroe won the election of 1820. james monroe ran virtually
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unopposed as second term as president and received 80% of the popular vote. that's a a quick check of the markets, we still have a big loss for the dow industrial down to 78, let me tell you, home depot travelers, make it express, goldman sachs, microsoft, they are dow stocks all of them are down significantly and that's taking 200 points off the dow, without the five stocks on the 25 other stocks, you would be down about 40 or 50 points, that is it, the ten year treasury rattling investors because it keeps going up investors don't like it, the yield of the ten year treasury is for 17 in the two-year believe that is approaching over 4%, this is
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what is upsetting the market to some degree 403 on the two year, can we check big tech, i think that is an interesting picture emerging, nvidia up again, new hi, apple up again, that is important, alphabet, amazon and microsoft are down. it was quite a show we sold donald trump arrived in north carolina and we ran a lot of tape of him working at mcdonald's, i thought that was a priceless videotape he's quite a candidate. >> a solid weekend in pennsylvania, bucks county. >> that is it for "varney & company", we will be back tomorrow at the regular time 9:00 o'clock in the morning eastern time, time for david asman in for neil. >> yankees or dodgers or does it not mean anything at all. >> yankees for sure, i live in new york city. >> it's great to have the world series, we have the west coast, east coast into legacy teams this will be a hell of
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