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tv   Varney Company  FOX Business  October 22, 2024 9:00am-10:00am EDT

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it starts in wisconsin today. joining the battlegrounds of pennsylvania, georgia, nevada, north carolina. trump is going to rally in georgia tomorrow and then harris is going to campaign with the obamas. your reaction. >> look out for new mexico. i think that is the sleeper state. trump is within the margin of err error. everyone is ignoring that state, but those electoral votes could be up for grabs. maria: mike lee. >> watch the 10-year treasury, it could threaten my beloved market rally. [laughter] maria: oh, or okay. as the administration adds more debt to the docket every day. thanks, everybody, great show. trisha mclaughlin, mike lee are, cheryl ca a sony. see you again some. "varney & company" picks it up. stuart: stuart good morning, everyone. two weeks til the election, and the trend is towards trump. he has maintained the momentum. new poll shows him with an 11-point advantage with hispanics. among blacks he gets 17% of the
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vote, much higher than in 2020. if harris can't take a truly dominant position with blacks and hispanics, she cannot win the presidency. today trump sits down with hispanics in miami, then he returns to north carolina stump thing with -- among hurricane victims. harris has no events scheduled, no rallies, but there's talk that she will participate in a pre-recorded interview with telemundo. no doubt to count canner trump's lead with hispanics -- counter. she's also expected to to sit down with nbc. one more development. former president obama will campaign with tim walz. the democrats are pulling out the big guns, but harris still has no plans to bring in joe biden. to the markets, more selling this morning as interest rates rise. look at this, the dow down about 150, strong stop for the nasdaq, down about 132. and here's why, the 10-year treasury yield hit 4.20%, down a little this morning, but that 4.20 level is upsetting a lot of investors.
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as for the 2-year treasury, the yield there is 4.004%. bitcoin holding around $66,900, the price of oil, $71 a barrel. not that much change. gas down to an average of, $3.16. diesel down to an average of $3.58 and gold, again, close to a record high. $2,750an ounce. on the show today the sharp contrast between the candidates' campaigns. trump goes positive, man of the people. his appearance at the mcdonald's drive-thru manning the fryer still resonates. harris turns to demonizing her to opponent, a negative campaign, fear-mongering, casting trump as unstable and unfit to serve another term. and israeli general says, yeah, they've located hezbollah's gold in beirut. it's in a bunker under a hospital. he's telling the lebanese, go get it. and doug inhofe enlists ben stiller and andy cohen for a video about the joys of being a girl dad. this is how the harris campaign
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tries to boost its position among men. it is tuesday, october 22 2nd, 2024. "varney & company" is about the begin. ♪ ♪ here comes the sun. ♪ here comes the sun, and i say -- ♪ it's the all right ♪ stuart: yes, here comes the sun again. new york is again going to have a beautiful, sunny day. 75 degrees. low humidity. it feels like early summer really. it's just gorgeous. hence, the song here comes the sun. they know i like the beatles, so they played that song. here we go. two weeks til the election and new fox power rankings. madison alworth, good morning. take us through it. >> reporter: these are the pen ultimate fox power rankings because, like you said, two weeks to go, so let's get into it.
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trump ahead by 2 points nationally. let's dig into those battleground states. a new set of polls show that that the harris is ahead by 2-4 points many michigan, pennsylvania, wisconsin and georgia. we have a tied race in nevada, and and trump is ahead by 3 in arizona and north carolina. finish if the power rankings call all of those toss-up states, all of those states toss-ups, rather. let's shift over to the house. it is still a toss-up there with 3222 districts that could go -- the 222 districts -- 222 -- 22 districts that could go either way. here in new york the 17th district is one of the most k3e9tive this cycle. representative mike lawler is facing off against former representative mondaire jones. the race has moved from a toss-up to lean r. that's good news for lawler. then we have maryland's 6th district which has been safe territory in the past, but it has now moved from solid democrat to likely democrat.
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nevada's 3rd district is still the best opportunity for republicans to flip a seat in the silver state. it moves from lean d now to just likely democrat. and at last count, we now have 15.3 million ballots cast, early voting is officially underway in every single state. stuart: ain't it just? i voted myself in florida by mail. >> reporter: there you go. stuart: listen to what trump had to say to faith leaders in north carolina. >> my faith took on new meaning on july 13th in butler, pennsylvania. i would like to think that god can saved me for a purpose, and that's to make our country greater than ever before. [applause] i will keep on fighting for our cherished american values. under kamala harris you've seen the department of justice target parents at school board meetings. have you ever seen anything like it? you're like the enemy. st the craziest thing i've ever seen.
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these great people, they just want their children to be treated reasonably well. stuart: jason chaffetz on the set here in new york city. trump showing his personal side, the emotional side, man of the people side. i think it's working. harris has gone negative, demon ifization of trump. i don't think -- demonization of trump. i don't think that is working. harris has no events scheduled today. do you think her campaign is planning a major overhaul, maybe an october surprise? >> i think the harris campaign's taking on a lot of water. i don't think -- look, look at the contrast, the fun, the happiness, the excitement of donald trump. he's everywhere from north carolina, meeting with victims of that horrific storm, he's out there at mcdonald's, he's at the al smith dinner making fun of himself and doing those types of things. and look a the joyful kamala harris with liz cheney? talk about depressing. i mean, that's the most expressing thing you could possibly do. no campaign events? you're two weeks out and you have no campaign events? are you kidding me? you are -- donald trump is doing
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it pitch perfect. and people of faith vote with surprising low numbers. they don't get out and vote. stuart: yep, they do. and he was with them yesterday in north carolina. here's another one for you. harris insists that her presidency will be deferent from joe biden's. okay, watch this. >> you talk about turning the page. what's on the next page? >> it is a metaphor that is meant to also describe my intention to embark on a new generation of leadership. mine will not be a continuation of the biden administration. i bring to it my own ideas, my own experiences. buts it is also about moving past what, frankly, i think has been the last decade of the american discourse being influenced by donald trump. stuart: jason, jason, jason, she's been asked that question dozens of times and and always
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brings it back pointing the finger at trump. i don't think that works. >> she said absolutely nothing. if she was sitting in class and youd asked her a pointed question, you'd give her an f, she failed. the governor of pennsylvania, shapiro, was asked that question on sunday morning, what concern name one thing she's going to do different. can't name a single thing. and you couple that with the idea of what has she accomplished? she's in office right now. don't tell me you're going to turn the page. you're in charge of that book right now. you can't name a single thing that kamala harris has done. i don't think she can define inflation. what's she going to do for the economy? if how's she going to make our borders and the world more secure? she could do it right now, today. she's got day off. [laughter] she's not going to do it. stuart out she might be doing a couple of interview, but she's not on the campaign trail. >> no. she's supposedly working. we're paying her. stuart: what other campaign with two weeko would give you a day off? jason, appreciate it. thank you, sir. check those futures, i see a
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lot of red ink. dow off 170. nasdaq is down 147 points. david nicholas joins us to check out the market today. i notice nvidia is at an all-time high, backed off just a little, 48 cents down. why is it still climbing? if. >> yeah, stuart, the reason nvidia's doing so well really has to do with taiwan semi that just reported recently. their results were so incredibly strong, so when they reported, they said, look, the demand from a.i., it's real, it's sustainable. i'll add another word to that, it's insane. they said a.i. spending will be up over three times this year. the fear was, hey, the economy is slowing and nvidia, demand may be down? taiwan semi alleviated those fears. there's real demand here. stuart: well, the chipmakers overall, they've stayed very strong. what's that doing for the overall market? not much, by the looks of it. >> yeah. well, look, we recently just are
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hitting all-time high highs in a lot of the major indexes. if you look under the surface, if you look at the tech sector as a whole, what's driving? the semi sector is driving yoapt. here's the way i look at it, stuart, when google, amazon, facebook, apple, when they report in the next couple weeks, if they say that they're spending on cap-x for a.i., that's the next leg up for nvidia. if these big names even though the economy may be slowing, if these big names are still spending, stuart, that's bullish for nvidia. we're still buy years at this can -- buyers at this level. stuart: i don't like the look of rising interest rates. all right. out of time. sorry, david nicholas. we will be back to you at some point in the future, promise. now this, one cnn reporter concerned by harris' lack of sport among a -- support among a certain demographic vote. which group would that be? >> reporter: black voters. black americans, it's a group that that's normally very strong for democrats, but harris is not
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seeing a ton of support there especially when compared to previous democratic nominees including president biden. this is why we've seen her campaign kiss patch the strongest surrogate -- dispatch the strongest surrogate for that voting group, former president obama, to arizona and nevada. it's also why harris herself spent an hour with charlamagne tha god to talk about policy, race and religion. but the campaign or worries it still won't be must have. >> kamala harris still leads among black voters, but it's the friend that is worrisome, right? you go back to obama in 2012, he won it by 90. hillary clinton, 85. biden, 81. look what kamala harris is today, she's down 15 points from where biden was just 4 years ago, and she's down, get this, 24 points from where obama was 12 years ago. so, look, kamala harris is ahead, but the margin is shrinking among a core democratic group. >> reporter: core democratic group and all hands on deck, stu. this is why the dnc has launched
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a bus tour focused on getting black voters to the polls. the we vote, we win southern bus tour is being led by dnc chair jamie harrison. going to hit florida, georgia, north carolina, south carolina, and that reporter talked about this, but i want to outline this point. this is a harris problem, but it's been around for quite some time. when you look in particular at black men, in 2008 only 5% of black men voted for the republican party but by 2020 that number had surged to 19%. that is a 280% increase in that amount of time, 12 years. stuart: you've got to be worried if that trend continues. you can't win if that trend continues. thanks very much, indeed, madison. coming up, trump securing a major endorsement from pennsylvania steel workers. >> the president saved the steel industry with tariffs, you saved it with tariffs. >> thank you. >> you're my hero, and you're the greatest president ever. [applause] stuart: in previous election union members is have gone
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strongly for the democrat. this time, not so much. karine jean-pierre denying harris has been distancing herself from biden. >> he has so far only campaigned alongside vice president harris in a an official campaign event capacity. >> he was in philly, philadelphia, just last week doing a campaign event. just last week on his own. stuart: well, two weeks from the election biden has no plans to campaign with harris. is that intentional? we'll ask the "wall street journal"'s gerry baker. he's next. ♪ what if i was made for you and you were made for me? ♪ what if this is it, what if it's meant to be? ♪ what if i ain't one of them -- playing some game ♪ harlem has everything.
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stuart: look at that the red ink. dow off 150, nasdaq down 120. the opening bell in 13 minutes. today trumiami to hold a round table with latino voters. he then heads straight back to mcfor a rally there. madison, take us through the day, please. >> trump has a unique opportunity this year to pull voters who normally go for democrats. we talked about black voters, but it's also hispanic voters. a suffolk poll has him leading harris among hispanics, but our own fox poll has him behind by 5 points, important to have that context. he's eroded the dems' piece of the pie. he's eroded it by 11 points. vp harris clearly losing traction. the harris campaign is fighting, putting out a campaign ad with legendary singer marc anthony, and she's also a taping an interrue with telemundo today -- interview. cheerily working today. florida -- clearly working
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today. carlos gimenez explains the reason why trump is resonating with latinos. listen. >> i think the hispanic community is coming home. i think the gop holds many of values that we hispanics hold dear. we're about family, we're about faith, we're about hard work, we're about freedom. >> reporter: trump is really coming off a campaign blitz in north carolina. he saw firsthand the hurricane devastation there near asheville, and this is a critical state for hill. he is stunned that a million people so far have voted early statewide, amazing considering the damage that was done to that state. he's going to fly back to north carolina after this round table today. stuart: he showed his personal side when one of our reporters said what about can everybody vote, and he said the vote's not important. it's surviving, that's what these people have to do. that showed his personal if side, a concern with real teem. -- real people. >> we got a lot of that this weekend. stuart: we did, indeed. take a look at this op-ed, america is far stronger than our
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politicians admit. gerry baker wrote that, and she joins me now. okay -- he joins me now. my question is, why don't voters see it that way? >> well, thanks for having me, stuart. i mean, the simple answer is the prices have gone up by so much in the last four years at a time when wages, as you've reported many, many times on your show, stuart, have struggled to keep up. it's completely understandable from the voters' perspective, especially after a long period of low inflation. we had 20 the year, essentially, when inflation was nothing in this country. in the last 4 years, we've seen this surge in prices. now that's died off in, actually, u.s. has largely got on top of the inflation problem. the economy is growing, unemployment is low. and and the point of my column is relative to the rest of the world, stuart, the u.s. is in a very, very strong position. we keep hearing from both sides in this race that whoever wins this, whoever wins this election depending on which side you're on is going to destroy america. it's a silly argument.
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america's been built over 250years. it's actually in robust health compared with the rest of the world. but, yeah, people right now don't necessarily feel good because they've seen prices rise over the last 4 years, and they're uncomfortable with that. stuart: listen to what the white house, listen to how they defend biden's absence from the campaign trail. watch this. >> reporter: he has so far only campaigned alongside vice president harris in an official campaign event capacity once. we have reporting that we don't expect the see the two of them together in the final two weeks. what is the reason for that? >> well, i would remind folks that he was in philly, or philadelphia, just last week doing a campaign event: just last week on his own. and so would remind folks that he was doing that. there's going to be a campaign-related event, as i just mentioned, tomorrow and there'll be more to come. i think there will be more to to come. stuart: that's not much of an answer. why is harris distancing herself
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from biden? >> the biden administration's not popular, stuart, as you know. people think the country's on the wrong track. people disapprove of the biden administration record by 57-43%. she knows that her or association with joe biden is a massive drag on her popularity and, quite frankly, if she loses the election, it will be because she will be seen as the incumbent. but at the same time, she can't actively distance herself from biden. this is the problem that all vice presidents face, you know? it happened with al gore in 2000, it happened to hubert humphrey in 1968. when you have a president, you're campaigning, essentially, to continue the president's term because, after all, you've been associated with that president the last four or eight years. but at the same time, you've got to offer something new and fresh. so she's trying to say something fresh. she's trying to say i'm new, i'm turning the page, but the voters see harris and they see the biden administration, and they don't distinguish between the two. so she can't be seen to be out
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there campaigning on biden's record because it's a loser. stuart: tough position to be in. gerry baker, thanks for joining us. >> thanks, stuart. stuart: we often talk about how the candidates in this election are really very, very different. but, madison, there is one policy that they do seem to agree on. go ahead, you tell us. >> reporter: yes, it's marijuana. marijuana reform is seeing support from both trump and harris. they've talked about a easing restrictions around the drug and also reclassifying it as a less dangerous substance. companies, investors and likely smokers support this move. the u.s. cannabis industry is expected to net $3 2.3 billion in sales this year, and they're expecting it will reach upwards of $45 billion of sales by 2028, and that's according to cannabis data for bdsa. let's take a look at the current landscape. as of august, 24 the states and washington, d.c. have legalized adult use cannabis, 7 other
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states have decriminalled it, its reck raying at -- recreational a use. it's on the ballot in florida, north dakota and south dakota. stuart: i want to see how trump votes, because that's statewide recreational in florida. >>reporter: right now they allow medical. stuart: they do. thanks, madison. check futures, please. same story. plenty of red ink. dow off 100, nasdaq off 100, the opening bell is next. ♪ this ain't texas, ain't no hold 'em. ♪ lay your cards down, down, down ♪
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stuart: three minute toss go til the opening bell, dow off about 100, nasdaq down 131. jacob sonnenshein joins us today. we're two weeks from the election. the betting markets, and i stress the wetting markets -- betting markets, show trump in the lead in seven swing states. do you think a trump win is better for the market than a harris win? >> i think it probably is because when you have harris coming in, you know, she's talking about capital gains taxes and and corporate taxes.
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but i actually think the only way you're going to get a decisive move in the broader stock market for a sustained period is if you get a blueaway or a red wave because that way you have the full extent of policies going through. if you have anything short of a wave, or one color or the other, you just don't is have the full extent of corporate taxes, capital gains tax changes going through or stimulus which both candidates are talking about stimulus, you're not going to get the full extent of policies unless you get a wave. stuart: suppose you get divided government. isn't that ideal for the market in. >> that'ses obeys -- that's basically9 what the market wants because the market doesn't want to have to focus on policy changes. now you can, without drastic policy changes, you can model companies based on economic and try -- industry fundamentals. stuart: you've been urging us to put money into small caps. you still with that? >> yeah, absolutely. i think, first of all, if there is stimulus in either a red or
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blue wave situation, it is inflationary and does juice the economy. you get fewer rate cuts, but you get a better economy. by the way, if you have inflation continuing to move back down towards 2%, then you get a few more fed rate cuts and the economy does well, and that's good for the cheap and fairly cyclical small caps. stuart: got it. i'm worried about these higher interest rates, 4.76 on the 1-month, look at that. hear more from jacob sonnenshein on "barron's roundtable" "barron's roundtable,"s friday, 7:30 eastern time. jacob, thanks for being with us. we're going to see the market open in a few seconds, and we're expecting red ink right from the get go. he presses the button, and off we go. the dow has opened with a loss of almost one-third of 1%. as you can see from the dow 30, there's plenty of red. that means there's plenty of selling, not much green. the s&p 500 also a opening on
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the downside to the tune of .4%, a sharper loss than for the dow. the nasdaq composite way down, that is up .46% -- off .46%, 84 points. show me big tech, please. we've got microsoft is actually the only big tech stock that's up. all of 30 cents. meta, amazon, alphabet, apple down. apple's down $2.60. let's start with nvidia. it hit another record high yesterday. tell me more about it today. >> really close. yesterday we were at 143.71, we're off just a little bit, but barely. only the second company after apple to hit that $3.5 trillion market cap. dan ives is one of those that thinks this is a company for a tech bull market. it could see another 20 run along with big tech in 2025 the -- 20%. stuart: that would be nice. [laughter] >> good for your microsoft. stuart: earnings reports this morning, start with general motors. >> frankly, blew it out of the
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water. this is a phenomenal company. much better than expected top and bottom line, on track to meet some of those profitability targets that they have for the ev division this year. also gaining market share because they're doing a great job balancing pricing and inventory. stuart: long time since i saw gm at $50 a share. theres it is now. 3m company. >> classic bellwether for how the economy is doing, right? which is why we care so much. they raised the lower end of that full-year profit guidance because they are seeing really strong demand in electronics, in industrial products particularly for vehicles and mobile phones. so this is, again, a company, bellwether for the economy, doing very well. stuart: all of these companies say the economy's doing well, the market's down and i think that's because interest rates are rising at moment. tell me about verizon. they reported too. >> yeah, this is interesting. they missed revenue expectations because they're seeing a decline in the wireless business. they're off 5%. the subscribers did well, but we want to hear more from them
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about demand from the i -- for the iphone 16. system estimates said it had been doing better than the iphone 15 this time last year, but if it's not selling, these companies are going to have a harder time bringing in business. stuart: i would imagine defense contractors are doing very well. >> unfortunately. stuart: lockheed martin, what happened? >> sales growth for missiles and fire controls overall pretty well, but the space and aeronautic sales declined slightly. the stock is down, but they kid increase the quarterly dividend by 5% and approved a $3 billion share buyback to bring the total to about $10 billion. the stock, though, not liking it. stuart: how about that? i mean, they -- down $16, 222.7%. they make rockets, don't they? -- 2.7. i know you've got target. i know they're slashing prices on literally thousands of products. why are they doing that? the. >> i have about 2,000 products that they're cutting. they really want to make things
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more affordable. so you always have to think with these companies do we cut price and go big on volume, or do we try to just sell higher priced items, fewer of them, to go big on margin. i have some fun ones for you. the bluey fire truck for the grandkids, now just $20 from 25. magic bullet blender, $40 from 50. and the lego ford car model set $96 instead of 120. christmas is soon. stuart: we'll see. very soon, as a matter of fact. walmart, they're going to start delivering prescriptions the your door. when does that start? >> immediately in six states. arkansas, missouri, new york, nevada, south carolina, wisconsin, but they want to do the other 49 -- total, all 49, by the end of january. remember, this is after walgreens, cvs have been shuttering some pharmacies, really struggling with the store, trying to turn that
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around. walmart clearly sees an opportunity and wants to get that business. stuart: we've been following djt as a proxy for trump's performance, but they just made a big announcement if. >> do you think i would come here and not talk about fundamental news? we had fundamental news with this company finally. so yesterday we got an announcement that the truth+ that that's their streaming app available on ios and apple tv, they're saying it is available on android tv. so there is fundamental news behind this company. this is the app that focus on news, entertainment, faith-based content, weather, children's content and more. stuart: thank you, taylor riggs. check the big board. we are 4, 5 minutes into the business day, down .2%. dow winners, give me the list, please. topping the list is the 3m company. microsoft is on the list. walt disney at9 97. nike at 81. travelers, 260. the s&p 500, with -- the winners, please, philip morris,
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3m, norfolk southern. railroad. nasdaq winners, comcast, charter communications, pinduoduo, siriusxm and a a sml holding, up again. the 10-year treasury yield actually now edging lower, 4.17%. we were around 4.20 for much of yesterday and earlier this morning. the price of gold keeps on going, $2,754 an ounce, i think that's real close to a record. bitcoin, $66,800. oil moving up to $71.34. not that much up. nat gas, $2.34. look at gasoline, $3.16, but in california you will pay $4.63. coming up, nascar star danica patrick voting in her first election ever. listen the who she's voting for. >> voting for donald trump is like the vote of reason. it's like the rational, reasonable choice.
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i feel like it could not only be america great again, but make america greater than it's ever been. stuart: i call that a rave review for trump. of brian kilmeade has more on it. tim walz was not impressed with trump's mcdonald's visit. watch this. >> vice president harris and i grew up middle class which she didn't go and pander and disrespect mcdonald's workers by standing there in your red tie and take a picture. stuart: disrespecting mcdonald's workers? that's heavy duty spin, i'd say. jimmy failla has something to say about it. when it comes to inflation, trump is making this promise to voters -- >> we will frack, frack, frack and drill, baby, drill. [cheers and applause] and i will cut energy prices in half within 12 months from january 20th. stuart: can he really cut energy prices in half like he says he will? we will ask an economist, e. j. antony, after this. muck i'm on my way driving at 19
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stuart: in arkansas researchers say there may be, wait for it, 19 million tons of lithium which, of course, is used in rechargeable batteries. i just wonder if a harris administration would allow mining of any kind, even if we really do need lithium. and then there's russia's vladimir putin, he is going after the u.s. dollar's global dominance. edward lawrence at the white house. all right, edward, what is russia up to? >> reporter: the russian president wants to create a joint currency with other brics members. a number of them already buy u.s. debt, the united states has a record amount of debt under the biden-harris administration. china is the one who buys a lot of u.s. debt. the imf this morning said that
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global debt in 2024 actually increased around the globe, and the u.s. has not stabilized its debt dynamics. either has china, according to the imf, and the chinese announced plans to raise $, the 2 trillion themselves as part of a stimulus for their economy. now, the warning about debt comes as the anti-western alliance meets in russia including china, russia, india, brazil, iran, south africa and others. the u.s. brushing off this growing alliance. listen. how concerned is the administration that that this bloc of countries could undermine u.s. economic or trade strength that we have? >> what we're focused on, is on the working with partners around the world to build a the broadest and deepest coalitions possible to help achieve our shared goals. that's what we're focusinged on. we're not looking at brics as a evolving into some kinded of geopolitical rival. that's not how we look at it.
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>> reporter: prime minister modi offered his support to what he calls the swift restoration of peace and stability. these are the images that the russian president wanted as he thumbs his nose at the united states, and he continues to invade ukraine. stu? stuart: thanks, edward. listen to what trump had to say about bringing down energy prices. roll it. >> i will end inflation, and we will make america affordable again. [applause] we will quickly become energy independent again. you know, we were energy independent. [applause] just four years ago a. and we will frack, frack, frack and drill, baby, drill. [cheers and applause] and i will cut energy prices in half within 12 the months from january 20th. we have more liquid gold under our feet than any other country
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including russia a and including saudi arabia. stuart: economist e.j. an tony joins us now -- e.j. an tony joins us. can trump cut the price of to oil from $70 where it is now to $35 and gas from $3.20 where it is now so is to $1.60, is that realistic,? >> stuart, it is provided we're willing to get rid of all the bad public policy mistakes that have gotten us into this mess of lower production and higher energy prices. a key thing to remember here is the fact that if we can actually get rid of all the additional costs and regulations on our energy producers, both oil and natural gas, then it becomes profitable for them to drill and for them to pump at $35 a barrel. the problem is right now it simply isn't. so even if you had a situation where global demand plummeted, let's say, you wouldn't get prices down that low without getting all of the government hands off of these markets.
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stuart: but we are producing more oiled today -- oil today the per barrels than we've ever produced in the past. i mean, how -- 13 million barrels of oil are being drilled in the united states as of today. that's an awful lot of oil. how much -- >> oh, it certainly is. stuart: -- would you have to raise production to get the price cut in half? >> you're absolutely right. we are producing more than we ever have been before, but we are way below our previous growth trend. there was a study published recentlyly by unleash prosperity that showed between 2021-20234 the nation was missing at least 2.4 billion barrels of cumulative oil drilling specifically because of all the bad public policies that are making it more expensive, more costly, more difficult for drillers to bring that product the market. so, again, if you can actually get the government out of this marketplace and let the free market do its thing, you will see an even greater increase in
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production. and when you increase supply, you decrease price. stuart: i want you to listen to what harris had to say about raising the federal minimum if wage. watch this. >> donald trump does not believe we should raise minimum wage, and i think everyone knows that the current federal minimum wage is $7.25 an hour. which means that the person who is working a full day and working full weeks will make $15,000 a year, which is essentially poverty wages. i absolutely believe we must raise minimum wagethat hard working americans whether they're working at mcdonald's or anywhere else should have at least the ability to be able to take care of their family and take care of themselves in a way that allows them to actually be able to -- stuart: wait a second, e.j., should all jobs across the board like a mcdonald's counter hand, for example, should every job pay enough to support a family? if is that even possible? >> stu, it's absolute nonsense.
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and, frankly, as the vice president should remember from the time which she supposedly worked at mcdonald's, you are not in an entry-level job typically trying to support a family. look, everyone starts their career as a low-skilled or no-skilled worker, and you are taking your first couple of jobs not to make bank, but so that the you can acquire skills so you can learn tow -- how to deal with the boss, how to show up on time, how to be responsible. you're learning interpersonal skills. your primary means of compensation in your first couple of jobs is usually not even monetary. it's simply acquiring a skill set. so this idea that somehow every job needs the support a family of four, it's absolute nonsense. frankly, the vice president here is simply demonstrate thing once again her ignorance of basic economics. stuart: we'll leave it there. e.j. antoni, thanks a lot. with exactly two weeks to the election, making predictions, that's a dicey game. anything can happen.
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but you can follow the trends, and right now the trend is towards a trump win. his personal, positive, man of the people campaign seems to be working. that is my take, top of the hour. obama heading to battleground wisconsin to campaign with tim walz. we'll have a full report on that next. ♪ if working 9 to 5, what a way to make a living. ♪ barely getting by, it's all taking and no giving. ♪ they just use your mind, they never give you credit. ♪ it's enough of to drive you crazy if you let it ♪ hey, jackie! (♪) evan, my guy! you're helping them with savings, right? (♪) i wish i had someone like evan when i started. somebody just got their first debit card! ice cream on you? ooo, tacos! i got you. wait hold on, don't you owe me money? what?! your money is a part of your community, so your bank should be too. like, chase!
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stuart: today former president obama joins governor tim walz to campaign in battleground wisconsin. mike tobin is there. mike, what can we expect the hear from obama today? >> reporter: well, they're going to take wisconsin very seriously. all of the campaigns operate with the idea that wisconsin is going to be a razor thin margin, and nobody wants to learn the lesson that the hillary clinton campaign learned the hard way back in 2016, and that is you can't take wisconsin for granted. so that is why the democrats are pulling out their most potent weapon, former president barack obama, who will appear in the badger state today with minnesota governor tim walz. the stated goal of the appearance is to encourage early voting which begins today. now, obama has already voiced concern that black men are not
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motivated by the harris-walz campaign, and with a very broad brush he accused them of sexism. the quote, while speaking to volunteers in pittsburgh, was that black men just aren't feeling the idea of having a woman as president. walz is courting the black vote with a different tone, framing it up with health care. >> so i think for all of you this idea of really focusing and certainly in the black community, focusing on the things that matter -- health -- how is it right in the mitch richest country in the world that two babies born at the hospital if one's a white baby and one's a black baby, the white baby's going to live longer because of the way the system's set up. they're going to be healthier during their lives. >> reporter: now n2016 donald trump won wisconsin by a margin of just .77% or 232,000 votes -- 222,000. he lost it by even less in 2020, 21,000 votes. this is going to be the sixth time governor walz appeared in
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the badger state since he was selected as a running mate to kamala harris, and after this he's going to racine, wisconsin, which gives you an idea just how seriously they are taking the badger state. stuart? stuart: mike tobin, thanks a lot. climate start-ups are using federal defense money to fund their projects. how does that work, madison? >> reporter: yeah. so they're marketing their products to these defense contracts, and for good reason. military spending on batteries, low carbon fuel, on-site power and electric vehicles, it's grown. and as a result, it's an important source of money for these start-ups when climate tech companies are not seeing a lot from d.c. take, for example, south 8 technology, spend around a decade developing a battery that could exstand -- withstand extreme heat and cold. and then a lucrative business partner called the army and said they were interested in their business. they come with at lot of red tape and bureaucracy, there's a lot that has to be done, but
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we've seen a huge runup in the business, and that's in part because there's a lot of dollars when it comes to defense spending. stuart: got that right. madison, thank you very much. biden is deeply concerned after the release of secret documents about israel's planned strike on iran. the question is, who leaked and why? brent velicovich here on that. brian kilmeade will react to danica patrick supporting trump in the first election she's ever voted in. pennsylvania senate races shifting to toss-ups. looks like trump's momentum in the keystone state is growing. we'll ask ari fleischer about that. daniel cam cameron will react to harris losing support amongst black and latino voters. the 10:00 hour is next. ♪ this is the part where i say i don't wanna. ♪ i'm stronger than i've been before. ♪ this is the part when i break free --
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♪ 'cuz i can't resist it no more ♪
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stuart: i don't care about pitbull feeding at the moment. the weather in new york is fantastic.

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