tv Varney Company FOX Business October 28, 2024 9:00am-10:00am EDT
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three of the world series, the dodgers have been doing really well. >> the yankees bounce back, they're bound to bounce back otani is a little bit hurt, that some to liven up the team, give them to take a couple of games while there back home. maria: it makes me think of my first pitch before the playoffs and got a ride over the playoffs, what can i say. >> i think that was a changeup, that was a good one. >> thank you for humoring you by watching not. thank you everybody, liz peek, scott martin have a great day. thank you for being here, markets are higher we're going to check it out again tomorrow. we will see you then, "varney & company" picks it up. >> good morning, everyone to big
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stories, the stocks up again right before big tech earnings and donald trump rocks new york city with the weekend a day to the election, that is where were going to start. the atmosphere was electric, 20000 people jammed at madison square garden, there were thousands were outside, trump was introduced by melania, elon musk made a brief appearance, the crowd loved it all, throughout the city you can see red hats and trump flags that we've not seen that before. the democrats are shocked, the heroes cannot generate massive crowds when she brings in entertainment stars. she's dealing with joe biden who wants to be part of a campaign and has been dumped. axiom says harris stiff armed him she will campaign in michigan, obama campaigns in pennsylvania let's get to the money another monday morning valley, look at this the dow up 180, the nasdaq 165 at this stage. big tech reports this week it
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looks like investors are expecting solid results, that is helping the whole market. all the big tech in the green the price of oil down to $67 a barrel. israel did not attack iran's oil installations, down goes oil. gas down 313 a gallon for regular, diesel down 356. interest rates holding at an elevated level, the tenure is above or right at you for iniquity present, the two year above 4.1% 4.11 to be precise. bitcoin i'll call it solid $68000 a coin, gold just under 2760, seven a $45 an ounce. on the show today, the washington post and the los angeles times refused to endorse either candidate. they were expected to go for harris, the staff at both newspapers are in open revolt. it shows you how committed most of the media is to the demo democrats. we will spend a lot of time showing you the remarkable
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scenes from trump's new york city valley, no other politician can bring in the crowds in the intensity that trump brought to madison square garden last night. monday october 8, 2024, 8 days to devote, "varney & company" is about to begin ♪ ♪ [laughter] stuart: this is the return of lauren she is back. >> so good to be back, she loves elvis presley, little less conversation. we are eight days to the election, donald trump was met with the roaring crowd at msg last night while, the harassment that we can campaign with more celebrities, welcome back, take us to the rally.
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>> these are the closing arguments with a week left, trump turned new york famous madison square garden into maga square garden, he gave the packed arena of 20000 people with more outside. a reason to be helpful. >> i'm asking you to be excited about the future of our country again. i'm asking you to dream big again this will be america's new golden age. every problem facing us can be solved, were not going to take it anymore. it kamala harris, you are fire, get out you are fired. >> kamala harris campaigned in houston and another star-studded event. >> we need the hopeful path laid out by vice president kamala harris and governor tim walz. a vision that unites us.
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>> were ready to say madam president, mama, don't let them babies up to be cowboys. >> i'm not here is a celebrity i am not here as a politician. i am here as a mother, a mother who cares deeply about the world my children and all of her children living. >> the problem a lot of people showed up for a beyoncé concert and they did not get one, she did not perform. my question is does harris have a popularity deficit so the crowd comes to see beyoncé, eight days to go 41 million votes have already been cast. it is a coin toss but the joy appears to be on the trump side right now. stuart: there is a switch. welcome back. listen to what trump's said about restoring america during last night's rally. >> i will never apologize for defending america.
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i will protect our workers, i will protect our jobs, i will protect our borders. i will protect the great families and i will protect the birthright of her children to live in the richest and most powerful nation on the face of the earth. no city embodies the spirit, energy and potential of the american people more than where we are gathered tonight. stuart: that was quite a turnout. guy benson joins me this mor morning. reagan won new york in 1994, new york state, do you think trump can come close to winning new york state this time around? >> in a word, no, probably not but he might get closest of any republican from the last quarter century. the closest anyone has gotten was in the post-9/11 era 2004, the presidential election, george w. bush just beat out
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40%, hair over 40% based on some of the polling donald trump might have an opportunity to eclipse that number, this is a state that is safely and kamala harris column and there is really important swing districts within the state level have an impact nationally and i think trump, what we saw last night what we've seen from his campaign the last few weeks and some of the stops he's adding to his antenna very the last eight days they are making a plate to expand the map and try to win the popular vote nationally and cutting into an margin in new york would really help them. stuart: i think it's a brilliant move if he attends the penn state football game but jocelyn nungaray days before the election. it's in pennsylvania that is a good move. >> he was and state college recently and brought the wrestling team up on i am skeptical but intrigued that the
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term campaign has announced appearances in new mexico, virginia, they are touting polling in new hampshire as w well. i would not bet on trump to win any of those three states and the fact that they're talking about those places and going there tells you something about the level of confidence. either it's a big head fake or it'll look like they're on to something, the good news is we will know in a days which one is correct. stuart: i hope we know when eight days, trump sat down for three hours with joe rogan on his podcast. that episode has over 33 million views just on youtube alone. watch this. >> to doing interview with anderson cooper. a softball crazy softball interview she took two days off and studied and studied all day long and then she comes out with the result that was an embarrassment that was a really bad interview, she cannot answer a question, what would you do your first day in office, okay i'll build a wall, i won't build
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a wall, there's 100 things you can say, just say anything. >> was a mistake for harris to skip rogan's podcast. >> probably not i don't think she would do well in the setting. the conversation, free-flowing, open-ended and she does not excel and that sort of thing in there were reports that they were in conversation with rogan to try to make it happen but the reported that there were some conditions that her team wanted to put on and that's not what joe rogan does. i think it made sense for trump to go there free-flowing wide-ranging conversation with a huge amount of attention as you pointed out in i think trump comes off as a little goofy at times and not terribly threatening at times which is flying in the face of a lot of democrats are trying to say about him. he's held his own and chatted about a whole bunch of different topics with someone who is interesting whether you like joe rogan or not it was an a positive return.
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stuart: thank you for joining us we will see you soon. let's get to the rally, still in progress the premarket shows 200 up for the dow, 150f or the nasdaq. david bahnsen with us for this hour of what is behind the rally. >> trigger points down every day last week. i expect this throughout the week, so much uncertainty going into the election a lot of traders well-suited not we seen every presidential election of my investing life there is a down taking volume people are waiting to get on the other side. stuart: there's been a rally is it a trump rally? >> i don't think you can call it a trump or a harris it is a republican senate, the republicans look so good to take the senate that's a big part of markets. >> our stocks up because investors think that the big tech earnings results are going to be solid? >> last week would tell that story, the dow is a comeback
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from last week and again, i think you will get mixed results in a lot of investors are expecting mixed results some company outperforming is some underperforming it is about forward guidance. give them your numbers looking backwards, that is a call looking forward. thank you for being with us, stay there, now this sum of wall street top ceos are reportedly backing away from kamala harris, why? >> i think you're being realistic, charlie gasparino wrote in the new york post and he said specifically j.p. morgan jamie dimon goldman sachs david solomon have seen private poll numbers and trump is ahead the paired is not what to be a political enemy and the potential new trump white house so the prioritizing their companies and their careers and what the story does is remind me of the liberal washington post in the los angeles times, no endorsements this time around saying nothing speaks volumes. stuart: why do you think co are drifting towards trump because he is going to win.
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>> i got recruited as managing director of morgan stanley 20 years ago, my first day the ceo john mack who i love called and asked to contribute to hillary clinton dinner and i said in a lifetime conservative republican and he said so in my and he said our job is to bet on the winning pony it's good to not get deep into harris, the obviously not getting deep into trump player back they have to be pragmatic they have shareholders to think about. covenant president biden has been noticeably absent from the harris campaign it looks like an intentional move to dump the president, jason chaffetz will tell us how he sees it, for the congressman byron donalds criticizing harris' economy at the trump madison square garden rally last night. >> she unleased the massive inflation that made it harder for every working family in our country. she was around when i was a kid it would've devastated my mom who still lives in brooklyn. >> donald has stayed in new york city and use joining us onset
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>> families in new york, chicago and philadelphia and milwaukee in phoenix, they are struggling because of kamala harris in there saying the same thing that we're saying we've had enough we need donald trump back, she unleashed the massive inflation that is made it harder for every working family in our country. if she was around when i was a kid it would've devastated my mom who still lives in brooklyn. do you think she has an answer. no she doesn't, nothing but word salad. >> congressman byron donalds joins us here onset in new york city. i have to tell you the local media are describing this as a racist rally last night, how do you see it. >> the local media is a joke but why are we surprised her in a tank for kamala harris and the democrats but why are we surprised they protected her this entire time and before that joe biden and they lied to the
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american people about his abilities. take a step back, msg was electric last night i was there the entire time phenomenal donald trump was great, melania was great, don jr., eric trump, lara trump, howard lott nick, it was phenomenal, the energy was crazy in there and it really lays the foundation for donald trump to win this election to be the next president. stuart: do you think he can win new york state. >> at this point. it is tough but you have your doubts. i will tell you this, he is going to perform significantly better than any republican has performed in new york state since ronald reagan he's going to perform a lot better than a lot of other states, new hampshire really tight he's going to virginia over the weekend. over the weekend he will go to virginia. this is looking as kamala harris is going to lose an electoral college landslide to donald trump and the reason why the issues remain the same. inflation, our border and our foreign policy but at the core
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of it all terrible leadership out of washington, d.c., donald trump can fix it. stuart: i want you to listen to what president biden said about men voting for donald trump, watch this. >> mr. president what do you say about the men that supported you that are not supporting harris. >> you're making a mistake in my humble opinion. >> he said they're making a mistake, why do you think that young men are indeed are turning away from harris and towards trump. >> they have to deal with the fact that they cannot make ends meet and it's hard to provide for their families, housing and fixing your used car massively more expensive, illegal aliens in our country, new york city all across america taking resources from the american people, they have seen enough so there saying i see donald trump as president and i've seen kamala harris and joe biden, give me donald trump, say what you will about his twitter feed the man can get the job done. >> today like his masculinity,
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are they being sexist, another not. the problem for the left they assume if you stand out manhood that your against women, that is a lie wanted to great lies in politics. no such thing as toxic masculinity is about manhood they recognize donald trump as an alpha male no doubt about it people like that and they follow it, they need leadership and who will you be able to table with xi jinping, kamala harris or donald trump. >> what do you think trump strategy was in coming to the belly of the beast, new york city, why did he do that in 2024 notches about where you campaign value campaign into coming to madison square garden, his city and did say his backward to leave new york behind he said on his speech one of the great lines and was governor hochul in
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new york city and new york state great again, that is his focus, he is campaigning to all americans in every state not just at the battleground, the battlegrounds are obviously an important but that leadership is what america needs if working to make america great again. byron donalds great to see you in new york city, stick around. robert f kennedy junior is praising donald trump for his plan to fund his own transition. can you tell me why trump is funding his own transition. >> he can get a head start, by refusing the federal funding trump can start getting his team in place pretty early. >> normally the transition team is not created until november 6 because gao the general counting order office pays for the transaction team. trump said i'm not going to do it this time i'm not going to do it their way i'm going to start my own transition team three
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months early, you private donors who funded. >> trump is been president before and he told joe rogan in the podcast a mistake he made in his first term was putting people in position that he later regretted. doing everything early, all in place not waiting for the government for the official running of things helps them avoid making a potential mistake again. jevity other reason in mind. >> the mistakes made last time having brooke rollins and howard howard.net all the people involved in having the funding and the ideologically compatible with the conservative agenda. it's a good move i like brooke rollins and howard lott nick and personnel is policy. stuart: a quick check of futures, i want to see the green. up 200 points for the dow, up 130 for the nasdaq, the opening bell is next.
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stuart: the green remains on your screen the dow up 200 nasdaq at 26 and that will be three minutes before the market opens this monday morning, keith fitz, big tech week, the rally seems that big tech is going to come to this pretty well. what do you say. >> i'm absolutely on board with the program people are underestimating the impact big tech is having on the world and therefore particularly many wall street are still offsides. >> i believe you like apple and microsoft amongst the big tech stocks, lay out your case, start with apple. >> it is very similar for both of us, the underestimated demand and the impact of a.i. in the underestimate uptake with how the information flows through companies, every one, two, three, four, five returns to 1015 and that is going to be 2025 a few years from now, the time to invest is today even though they appear expensive. >> you say no intel, no uber, no
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palatine, go through them. >> why no intel. >> intel is dead money and i hate saying that, that was a once great, great but they missed mobile they missed a.i. and other things another struggling to survive, there's a good chance they might not survive, we've seen copperheads and for the most people and uber is going to be a.i., tesla which is charging hard, what happened uber when tesla car can dry themselves, uber seems to have a reason to answer them and then we reported to the other companies. stuart: that's a long way down the road before you see driverless cars. >> yes it is but when you think about investing, the time to invest is long before the public realizes and those are being made today and we got driverless cars, and that investment and what's happening now is undervalued.
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>> i have a thin sliver of uber and i think you're wrong, let's move onto palatine. have a nice bounce back. >> there a great company a couple of years from now you and i are going to have a different car. >> what does that have to do with palatine. >> palatine is different that's an ipad on a bike i think they're talking their own book if you go to a hotel which is a big breakthrough and we saw one palatine you don't build a business on one bike you don't see people not using it so really expensive laundry anger. >> if you buy somebody else's peloton can you reuse it or the after program the whole thing. >> i think you have to obtain your own subscription it doesn't have a legacy program on the bike but you have to get your own deal. stuart: all bear that in mind if i ever get a peloton. thank you for joining us.
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you have a great day. the market is open it it's open higher, the dow industrials up half a percentage point it if you look there there are 27 winners among the dow 30, make that 26 and for losers, plenty of green, the s&p 500 to the upside let's have a look at the percentages. a half a percentage point higher. is it the same with the nasdaq i think it's up even more, that is at .7% 18649131 points higher rebate check all of them across-the-board, alphabetic, meta, optical, microsoft they are all higher, not by much, not bad google is up 1.9%. apple and nvidia, nvidia overtook apple on friday as the world's most valuable company. there you have it on the screen apple 233 let's go to djt the highest level since july $42 a
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share, taylor riggs joins us, is this because of trump's msg. >> you hit a record low of 11 or $12 on september 23, 5 weeks later you've now got up and tripled in evaluation in your almost in a billion-dollar company 41 - $42 stock, traditionally there has not been about a fundamental, more tracking donald trump in the polls. stuart: david, do you agree with that. >> i think it's about fundamentals, i think taylor is very right they did 3.8 million of revenue. >> is djt a way to bet on a trump when. >> is a way traders think other people are betting on a trump when it's all speculation on speculation. i'm going to laugh if i keep talking. >> i'm not asking you to invest with djt would not touch it with a 10-foot poll. >> is not with winning an election is a company of hundreds of millions of dollars on fire and no path to changing
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that. if trump wins twitter is a big social media app for this. stuart: let's move onto tesla. they had a raise at target price from who into what. >> up to 298 from 278, saying this is a company that they think in their opinion has a better way to capitalize and grow their business and heightened expectation of a higher evaluation on the horizon this is a company that is doing very well. >> you not saying anything about this, david. >> tesla is very cyclical doesn't pay a dividend and has a lot of promise in the future but is very lumpy and goes up and down a lot in the valuation is a little stretched. >> must go to bed quite it was 68000 note 68008, the story. >> a great story over the weekend that might've slipped under the radar about microsoft remember micro strategy the ceo michael sailor put bitcoin on the balance sheet of micro
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strategy there is a vote at the annual meeting in december for microsoft that would maybe think about investing in bitcoin effectively putting it on the balance sheet, the board of microsoft came out against it and said we looked at this in bitcoin is volatile and we don't think this is good for us but nonetheless it's going up for a vote in the fact that big tech is thinking about something like this further legitimizes the crypto. stuart: all the crypto stocks are up. let's see mcdonald's. i know that report is tomorrow. i think they are up, this is news stuff on the e. coli outbreak. >> they are reintroducing the quarter pounder link to the e. coli because they know it is not linked to beef patties it is more likely the onions reintroducing that to the market without onions, you just want to see how this impacts sales and how this impacts demand we will hear from the company tomorrow let's see if we get updates,
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same-store sales looks like they will decline 6.1% that's less declined than the previous quarter which was a 1% drop let's see how the lower income consumer is doing. >> any comment on mcdonald. >> what are the great dividend growers on world history of 75000 present since it went public, we've owned in 15 years safeguard the dividend seven 100% the stock is up seven 100%. nothing to complain, the greatest french fries in the world which i will add i have not had a single one in the month. because your dieting. >> i still like the stock. >> big tech report learning support is on deck for the middle of this week what can we expect. >> the bar's side goldman sachs at the top ten companies many of whom the big mag seven have grown 47% this year alone, think about the evaluation of that in the pressure on that and other analysts thinking this could be the catalyst this earnings season this week that pushes big tech up another 20% through the end of 2025.
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again big expectation that have to show that they can deliver particularly the a.i. company. david bahnsen brings with him his dividend pics and is going back to the well with a couple of them, american electric power. >> nobody can be bullish on a.i. if they don't think the data center can build a lot more and a lot more power and the utilities are up quite a bit in american electric power is her favorite utility company big high dividend of 4% growing at seven or 8% per year. >> the next case is chevron. >> we've owned it a long time and i want to point out as an energy company one that does really well no matter who wins at the election. with harris last drilling and new production so that helps incumbent producers like chevron and with trump you get other benefits to help chevron in midstream and they're not
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rallying the way exxon and others have, we think chevron with a foreign half% yield is a really good way to play the american energy story no matter who is president. >> thank you, check out the dow jones industrial average which is closing in on a gain of 300-point you are at 424, look at the dow winners, topping the list is mcdonald's, 3m, home depot on the list. the s&p 500 a good chance to look at the stocks carnival norwegian, american airlines, delta air lines, for travel companies at the top of the list, nasdaq headed by illumina marvell technology, airbnb and the other one is paypal on the list. coming up here is is struggling to reach young male voters, what is the solution read alexandria ocasio-cortez and tim walz live streaming playing football video games while talking politics. watch. >> i'm up first, i am kicking first. >> kicking is the hardest part, people watching, you know this
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kicking is hard on the game. how many votes will that change, joe concha will answer the question. trump doubling down to replace income taxes with tariffs, watch this. >> did you just float out the idea of getting rid of income taxes and replacing it with tariffs, are we serious about that. >> why not. >> yeah sure, why not. organize economist stephen work, real estate and investor slamming out of control home prices and rent in liberal cities. >> new york city, yet the highest rent in the country. you have the highest home prices and or politicians want more taxes not less, this is ins insanity. stuart: he is going to join us in our studio momentarily and he will answer the question can trump turn new york state red. we will ask him, he is here.
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stuart: 12 minutes and the rally stain the dow with 337 points home depot in mcdonald's the most dow stocks up sharply adding 40 points to the dow it is up 340. eight days to election day donald trump and kamala harris are campaigning in key swing states today rich edson in wisconsin take us through what each campaign is doing. >> there here for the cheese kurds there fried bits of cheese and the delicious. if not they should be here for that. you have a vice presidential day here today in the state of wisconsin senator jd vance and minnesota governor tim walz are hitting wisconsin and vance is campaigning in wausau and minnesota governor tim walz is
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north of sheboygan and waukesha, four years ago president biden one wisconsin by less than one percentage point both campaigns are focused on turning off their voters, democrats are bringing their party to deliver areas of the state like in madison and senator bernie sanders and alexandria ocasio-cortez will rally tonight. >> i don't think that we live with this gender gap i think we have a responsibility to talk to people and educate and make the case and part of that means talking to men we did this with the dobbs ruling in 2022 saying this is not just a women's right to issue its an issue for men. >> last week sanders told the associated press that harris needs to address working-class people and there's a hell of a lot more working-class people that can vote for kamala harris then there are conservative republicans. harris moved to this editor for her progressive on immigration,
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the border in energy. rfk junior tulsi gabbard are here in madison tomorrow, vice president ha here is rally here wednesday and president trump in green bay with packers quarterback brett favre also on wednesday the wisconsin election commission says as early voting goes 850,000 votes plus convert even cast. stuart: grant cardone spoke at trump's rally last night, listen to what he had to say about standing up for commonsense policies. >> have you guys ever noticed go to any of the blue democratic liberal cities, new york city you have the highest rent in the country, yet the highest home prices in the country, you have the highest food prices, the highest transportation in the most crime and your politicians want more taxes not less. this is insanity.
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stuart: grant cardone joins me right here in new york city as of now, welcome to the program. do you think donald trump has an outside chance of winning new york state. >> one 100% if you were there and were around the building there were hundreds of thousands of people trying to get in the building. stuart: what was the event mike. >> i've been to big events, 34000, there was 19000 people in the room packed out could not find an empty seat those people have been there 12 hours. most electric event and i do big events. most electric event i've ever been to. the most celebrity status patriotic americans i've ever seen rather than being at a beyoncé thing rita been to that and it's great this is more like everywhere you look you would see the bleeding patriot of the country that wants the best for america. stuart: what do you think trump strategy coming to the belly of the beast deep blue new york
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city. >> he is a marketing genius. he is a great salesman and a great marketer and knows how to message but he also knows how to get distribution on the messaging i believe from mcdonald's stone which was agreed to start in presidential campaigns all the way down showing up for joe rogan to last night using material that will be distributed on tv but mass distributed as we were talking about on tiktok, facebook, instagram and youtube. stuart: the housing market is a mess at the moment existing home sales at a 14 year low rate how do you think a term presidency would change that. >> he will bring rates down if you do bring rates down you have a housing market that will not move and were already at load time those back to 1985. if you want to buy a house in this country you can't if you want to sell the house you can't. if you want to get a mortgage you can afford it. it's a massive problem today.
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stuart: can trump turn that around completely. >> absolutely he turned that around last time. stuart: how would you bring rates down. >> he will put pressure on the fed. stuart: do you think that is a good thing. >> one 100%. >> criticize the federal reserve. >> i know where you stand on interest rates but why don't we have the lowest interest rates in the world? we should wear the best country in the world we have the best economy in the world why should we have the lowest interest rates were mass-producing money anyway. stuart: want you get more inflation if you lower rates significantly. >> you will get activity and get people that want to have a home mortgage. i'm in the rental business i rent to people and i hope nobody ever buys another home again because you're going to run from me but the reality is she saying she wants to build 3 million homes and we have 2 million homes for sale in this country right now today and nobody can buy them because they cannot qualify for the mortgage. until they breached 4% you will not have any movement in the housing market.
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stuart: is a great pleasure having you on the show i'm going to refer to my colleague just to see what he has to say do you see anything good on the horizon in the housing. >> i think the number is close to four and a half but housing is frozen i don't want the president to do with anything setting rates with monetary policy is un-american but here's the thing the fed is pushing rates lower because they froze the housing market but they froze it by having artificially too low and too high and there's a happy medium which sellers become willing to sell. >> markets are supposed to figure that out i think it's going to be something with the four in front of it is good to be lower than it is now. stuart: it was a good debate. >> you were on my side because you want houses selling, too many people depend on the jobs. thank you for being on the show. the pundits are puzzled they cannot understand why people think the economy is so bad poll after poll shows them unhappy with their financial position
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that's 1-800-217-3217. stuart: kamala harris plans to highlight manufacturing job growth in michigan but new data shows there's not that much to celebrate. madison alworth take us to the data. >> she's good to go to the manufacturing job numbers but the data shows not a lot to celebrate the biden harris economy lost 34000 manufacturing jobs in the month of august and september. harris is going to be in a factory that the campaign says is set to create 1300 were manufacturing jobs thanks for funding from the chips act in the inflation reduction act meanwhile former president trump telling the crowd at madison square garden on sunday he's going to bring her manufacturing
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back to the u.s. by offering incentives like low tax rate for companies that build here. >> of these companies don't make their products here they will pay a very stiff tariff when they send their products into the united states for the privilege of competing with our workers and our now protected companies. we will protect their companies we are not leaving anymore. >> when it comes to the biden here's a administration acting labor secretary told fox business the white house does have more work to do when it comes to creating more manufacturing jobs but investment like opening up facilities across the country takes time. stuart: thank you very much, thank you david for being here. we appreciate it. still ahead looked at the markets as we approach the 10:0p 320 on the dow industrials and 82 on the nasdaq. plenty of green on a monday morning. iran's leaders stressing their right to respond to israel
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strikes more on that from retired four-star general jack keane. joe concha will react to aoc in tim walz live streaming video games trying to attract young male voters, how is not going to china going after marsha blackburn she is a target in here to react. jewish voters in swing states considering leaving the democrat party, jason rantz on that in the 10:00 o'clock hour of "varney & company" is next. ♪
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