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tv   Varney Company  FOX Business  October 30, 2024 9:00am-10:00am EDT

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nice. you threw a strike, and you really enjoyed that strikeout -- the. [laughter] yeah, that was great. maria: hey, it's intimidating. >> oh, absolutely. maria: yankee stadium, 60,000 -- >> it's not easy. maria: and that's my hometown. did it become common if place after a while? >> it does. you still get nervous -- there you go. who was on the mound then? [laughter] maria: there you go. exactly. what was your fastest pitch ever, jeff? >> i threw 95, 96. the fastest was 96, usually about 93, 99 4. i had a big slider, so that's -- maria: do you still practice? >> no. my arm's shot. forget it. we do fantasy camps a couple times down in florida and tampa. if. maria: jeff, it's great to have you. congratulations on all your super bowl -- listen to me. on all of your wins. i'm getting confused. jeff nelson. game is tonight, don't miss it on fox, we'll be right back.
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stuart: actually, it's me -- [laughter] good morning. hey, good morning, everyone. here we go. just days til the election, and the language the democrats are using is intensely divisive. start with the president. president biden called trump's supporters garbage. okay. the white house tried to to walk it back, but he came across like hillary's deplorables speech. harris is trying to keep her distance from the president, but the garage -- garbage comment fits right into her argument. she tore into trump as a dictator, a petty tyrant obsessed with ve venn. she -- revenge. in the last major speech before the vote, she was divisive. trump said dismiss biden. he knows not what he says. google, there's hope that solid profits set the stage for the other big tech stock toes.
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microsoft and meta report later this afternoon, but eli lilly, uh-oh, it's going the other way. its profit outlook disappoint, and the stock is way down. it is off 10%. earlier this morning the first reading on the economy. in the third quarter, expanding rate of 22.8% -- 2.8%. the economy slowing a little, the consumption indicator rose sharply. the dow down about 85 points, nasdaq is down 23. let's see, the nasdaq -- was with doing well with help from google but it's slipped into the minus column. bitcoin's record is $73,798, this morning it's $76,4 -- 72, 4. what was that? 71,4. got that. interest rates, on the consumption number rising. the 10-year treasury over 4.25. % -- the 2-year, 4.14.
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gas, no change, $3.13 a gallon. diesel up one cent, $3.57. gold really close to $2, 800 an ounce. on the show today, china hacks the phones of trump and family members. reportedly, they listened the conversations. headline, ukraine is now struggling to survive, not to win. that as north korean if troops are approaching the battle field. we will ask if it is biden who loses ukraine. and the yankees pull one back in the world series. not without incident though. two yankee fans tried to grab the ball out of the glove of the dodgers' outfielder. both fans thrown out of the game. out of the stadium, actually. it is wednesday, october 30th, 2024. "varney & company" is about to begin. ♪ ♪ pressure, pushing down on me,
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pushing down on you ♪ stuart: under pressure. what's that refer to? >> the yankees. [laughter] stuart: okay. that works. >> or the the election. stuart:st the yankees. we're now less than a week with from election day. vice president harris made her closing argument last night. lauren, good morning to you -- lauren: good morning. stuart: kid she just demean trump all night long? lauren: yeah. i didn't hear much joy in her speech, little focus on the future. it was certainly all about trump. >> it is a choice about whether we have a country rooted in freedom for every american or ruled by chaos and division. this is someone who is unstable, obsessed with revenge, consumed
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with grievance. it is time to turn the page on the drama and the conflict, the fear and division. it is time for a new generation of leadership in america. [cheers and applause] lauren: she'sing positioning herself as the change candidate, but she did so from washington d.c. and if that's odd optics for many voters. donald trump told hannity the kamala harris has no vision of unifying the country. >> this is not a campaign of joy for them, it's a campaign of hatred. they accuse me of being a nazi. they accuse me of being a hitler-type guy. or a hitler lover. and i'm not. i'm the opposite. they're the ones that are doing -- they're oppressive. this is, like, an oppressive machine. lauren: t-minus six days. are the scare tactics and
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preserving democracy argument a motivating factor? if this is a turn theout -- turn election, who do you turn out and for and why? do you hate trump or is it all about the economy? stuart: i'm not jumping in until later in the program. now listen to what biden -- this is it, this is the big one. listen to what biden had to say about trump supporters. >> just the ore day at a rally he called puerto rico a floating island of garbage. the only garbage i see floating out there is his supporters. stuart: oh, dear. the white house said the president referred to the hateful rhetoric at the madison square garden rally as garbage. todd piro is with me this morning. do you think that was biden's demother,s moment? >> 1000%. let me explain why. the white house defended this based on a misplaced apostto my. biden clearly meant what he has said. the entire party has said this whether it's hillary clinton
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down to biden and beyond. so what does trump need to do? he needs to play this as a commercial, as a corollary to his closing argument because he needs to to drive home the point this is what the left, kamala harris' party, thinks of you. and they've said this time and time again. j.d. vance had the best response. he says, so the mother who lost her son to fentanyl is garbage? the truck driver who has trouble paying for gas is garbage? the father who wants to provide food for his family is garbage? beautiful answer by j.d. vance. they need to bring those two together, drive it home in the next six days. stuart: got it. listen to the media praise for harris -- harris for last night's speech attacking trump. roll it. >> quite a speech last night. the visuals were incredible. the speech itself was really trying to reach out to all americans. >> the crowd size was absolutely massive. i mean, i could not believe what i was looking at. >> i mean, this is exactly what the harris campaign hoped that
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they were going to to deliver, that she was going to deliver. in the setting, it was unmistakeable. >> it was the calm, cool, collected kamala harris versus the day gross of donald trump. >> this is a damn good speech. this strikes me as a, essentially, the bookend to her democratic national convention speech p. stuart: i'm not buying it. demonizing trump, that's all they've got. >> and that's what you do in an area like washington, d.c. where when you look at the voter rolls, 994% of the people are democrat. that is the swamp. she played to the swamp because she wants to the propagate the swap. to the lauren simonetti's point earlier, horrible optics when you're trying to pitch it to the entire nation. spectacular if you're trying to keep the the d.c. machine moving which is what a kamala harris president city would do, it's what a cobbed trump presidency would not do -- donald trump presidency would not do. stuart: will demonizing work? your answer is no.
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>> i guarantee, i'll bet you $10 right now, stu, she wins washington d.c. she needs to to win the swing states. stuart: thank you, todd. stay there, please, you're with me for the hour. watch fox business' special election night coverage kicking off tuesday, election day, 5 p.m. eastern. now this, we just received the latest read on the economy, the first read on the third quarter gkp. how we performed in that third quarter. a little weaker than expected, 2.8% growth? lauren: right. and that slowed from 3% in the second quarter. consumption kale in strong, the consumer resilience was at 3.7%, and that accounts for two-thirds of total economic growth. 9 another factor in this is government spending. it surged almost 10 is %. think of the defense outlays and everything else. stuart: that's a big surge. lauren, thank you. quickly check futures as we go into market opening. we've got the dow down 800, nasdaq down -- 80. nasdaq down 47.
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ing ryan payne with me. what does a 2.8 president economic growth rate mean for the markets? >> i think it's pretty good. 3.1 was the expectations. these numbers do get revised a lot, the first two the numbers this year for first and second quarters got revised higher later. so close to 3% growth is way better than any economist anticipated at the beginning of the year. as a stock market investor, stuart, i like it. stuart: yep. i use this statistic all the time, the magnificent seven, wig technology companies -- big technology companies, they are worth more than the stock market of england, germany, japan combined. when we get the report later tomorrow, is that going to keep stocks going higher? >> they're at $16.5 trillion market cap, that's 7 stocks. you think about germany's stock market, it's $2 trillion? that's amazon right there. i think in the short term, the growth rates are still better for the mag 7 than the rest of
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the market. and we saw last night google do -- or alphabet blew their earning out, they're up 6, 7% this morning, tesla's up 20% last week. but long term if i could own all those other stocks globally, companies like mercedes, point a the, siemens, airbus, i'd rather own all of those except for seven stocks in the u.s. that, arguably at this point, are somewhat overvalued. stuart: i take your point. i just can't remember a time when a small group of stocks dominated the global economy so much. i've never seen anything like that before ever. >> i would say do -- stuart: and you're younger than me. >> am i? [laughter] stuart: yes, you are. >> maybe a year to two. it's a fair point, but i think bottom line here is it also speaks to the there's an overconcentration to where where investors are putting money today. stuart: got it. google's up 6% as we speak. ryan, thanks very much, indeed. trump laying out a new plan to deal with migrant gangs and
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cartels. >> under my administration we will be seizing thes assets of the criminal gangs and drug cartels -- [applause] and we will use those assets to create a compensation fund to provide restitution for the victims of migrant crime. stuart: all right. we're going to is ask the national border patrol vice president art dell cueto what he thinks of this idea. michigan democrat debbie dingell made this outrageous claim about trump on cnn. >> the arab-american community needs to be to be reminded and cannot forget he wants to ban muslims, he wants to deport muslim, and he wants to start internment camps. stuart: get that? do voters really believe any of this? mollie hemingway is here next, and she's going to take that on. ♪ what's your name, little girl -- ♪ what's your name? ♪
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stuart: 14 minutes til the opening bell, the dow is down 50, nasdaq down 23626. -- 26. we've been keeping an eye on djt. you've got to watch it these days. it's up another 1.8% at $52.48. now it's at $48.0022. i'm not sure about this. that's today's quote, it is down 6.5%. i have to tell it's up nearly 249 percent just in the last month. how about that? trump and harris, they are both courting vigorously black voters. mark meredith joins us now. he's in athens, georgia. what are they doing today? >> reporter: stu, the goal so to try and get as many people out to the polls as they can,
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and we are seeing record turnout here in georgia. more than 3 million people have already cast their ballot early, but they're seeing turnout in terms of black voters trailing white voters by a significant percentage point x. it's interesting to see whether or not we're going to see black men turn out for vice president harris as much as they did for president biden just four years ago. our cameras were here in northeast georgia as black civil engagement groups were going door to door trying to get out the vote. they say they're simply trying to make sure people know they can have their voices heard. >> just trying to make sure that black people turn the out. and i think they'll turn out in record numbers anyway. and if whether or not they vote early or vote later, we're not in a competition with our white brothers and sisters. >> reporter: now, democrats continue to face questions about whether or not the vice president is struggling with some black voters, but in a new interview harris simply brushedded off the suggestion. >> the black men in particular
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who are at the rallies have recently been saying to me don't you listen to that, and they gotta stop with all that noise. we support you. >> reporter: that's not always the case. while we were in athens, we met a man who did not vote for president trump either in 2016 or 2020, but this time he says it's the economy that has him voting for trump. >> the cost of groceries, just the cost of just, just living is just ridiculous now, man. and i really haven't, heard any of them say what they will do about that. but when trump was president, it wasn't that hard, you know what i mean? you could survive. >> reporter: we are expecting to get an update from georgia election officials in about 45 minutes with an update on where early voting stands as they wrap up last day of early voting on friday. stuart: let's talk fear-mongering. listen to what michigan
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congresswoman debbie dingell plans to do if he wins. >> the arab-american community cannot forget he wants to ban muslims, deport muslims, and he wants the start internment examples -- camps. he's telling you what he's going to do. believe him. >> internment camps? >> yes. he has talked internment camps. one what, jake? you may have to visit me in one. i get worried enough when he talks about what he's going to do to his political enemies. but he has talked about them with different groups of people. stuart: i repeat, that's fear amongerring. mollie hemingway joins us. do voters believe any of this, mollie? >> i don't think so. it's a curious closing campaign strategy. what should be happening from kamala harris and her surrogates would be actually explaining what they would do under a harris presidency. we've seen a lot of hate-filled proto to next. it's worth pointing out, donald trump was president and never prosecuted a single one of his political opponents.
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under the biden-harris administration, literally more than 1,000 political opponents have been prosecuted. they've tried to bankrupt trump, they've tried the take him off the ballot, they've tried to imprison him. so this idea that this is something we need to fear in the future, it's happening right now. stuart: it's surprising that they placed all their eggs into the basket of fear mongering with five or six days to go until the election. i'm surprised. but i guess they've got nothing else. >> they do have trouble with everything else, but they -- i think they're clinging to something that happened years ago which was there was some voter discob tent with trump. -- discontent. now that people can compare the administrations, they clearly -- just like the voter you just featured -- they care about the economy they had under trump. not just that, the security at the border, the foreign policy situation. stuart: there's a whole lot to go at. harris has moved heaven and earth to stay a away from biden. she has? ed -- snubbed him. looks like she made a smart
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move. what do you think? >> i don't know -- [laughter] i don't know why he was counter-programming her closing rally being op video talking about how half of the country is garbage. but more importantly than whether or not he's a good campaign surrogate, this man is still the president of the united states, and i don't see a lot of media concern about him as president. and we have months to to go. the world situation is very fraught, and more important than whether he's a campaign surrogate is that he is the president and doesn't seem to be president for all people and doesn't seem to be in full control of his faculties. stuart: he is the president of the united states until january the 20th of next year. couple of months to go. mollie hemingway, thanks for being with us. >> thank you. stuart: todd piro with me. i want to go back to talking about congresswoman dingell's internment camp comments. to me, that's straightforward -- >> 100%. i've always given her credit as being with one of the more level-headed individuals on the
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left. good on jake tapper for calling it out. an internment camp is what happened to the japanese during world war a ii. what donald trump has said is for those migrants who are here illegally, they will be deported. he has said nothing about a interning arab and muslim-americans, so why is she saying that? because the internals are clearly showing kamala harris is in trouble in michigan with arab-americans and muslim-americans. and you see donald trump last week bringing faith leaders from those communities on stage. those individuals saying we like donald trump not because he's pro-israel, but because pro-peace, and that pro-peace message is resonating with the majority of the miss rim -- muslim-american community as well as the majority of the jewish-american community. stuart: god it. od -- got it. the market opens in about seven minutes' time. we're seeing some red but not that much. we'll be back with the opening bell. ♪ that's the way, uh-huh, uh-huh, i like it, uh-huh,
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call now and see why a medicare supplement plan from a company like humana just might be the answer. confident. measured. ready. the markets, like life, will turn and challenge us. but when emotions run high, we stay grounded. with the hcm buyline, we work to empower investors, in navigating market volatility and complex conditions. we provide a diverse portfolio with proprietary mutual funds and etfs aimed at growth and preservation. so you can invest with confidence. visit howard c.m. funds dot com. stuart: three minutes to go til the opening of the market. dow off 50, nasdaq down 29. ray wang with me this morning.
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i want to talk google. the stock is rallying this morning. is this all about the cloud? >> this is definitely all about the cloud and the power of a.i. to power the cloud. and so far basically what google has done is they're shown a couple of things, the cloud business is actually taking market share, and their search business is not under attack by microsoft bing. stuart: microsoft reports after the bell today. what i'm looking for, i'm a microsoft shareholder. what i'm looking for is a return on microsoft if's a.i. investments. are we going to see some profitability out of their a.i. money? >> i think we're folk to see growth overall -- growth over-- we're going to see growth overall. that's where we're looking to see, where as your's helping to -- as your's -- azure is growing. revenues coming from the intelligent cloud side of the house. stuart: are they covering something up with presenting
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their results in a different way? >> no. i think what they've been trying to do is reflect more of how the business is operating. what you're seeing right now is the way they report gaming, where their azure growth is, those are all in different buckets, and they wanted to make sure the reporting was cleaner. and they announced this earlier in the fiscal year, in june, that this was going to happen. stuart: investors seem to think moth's going to the turn in a good result. they've up 1.25% right now. meta, they report after the bell. that stock is also up in premarket activity. investors expecting all good things, ray? >> investors are, right? if two out of the seven mag seven stocks have cone well, and the next two are looking like they'll do well. meta is expected to do really well, their cost cutting and efficiency is best in the business, and a.i. has given meta this new life. lama is very, very popular among developers, among lots of folks, and that's really what's going
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on. they're still upping their cap-x spend and r&d for 2024, and that's the piece that investors are slightly worried about. stuart:99 -- it fascinates me. the magnificent seven combined are worth more than the stock markets of england, germany, canada and japan. have you ever seen anything like that before? >> we've never seen anything like this before. and, institute, this is -- stuart, this is basically a winner takes all market in a few categories, a.i., cloud, digital ad sales. these things are all relate to the fact that these companies have massive networks of users and massive amounts of monty monetization on each of those. stuart: the times in which we live. ray wang, thanks a lot. see you again soon. we're coming up on 9:30, the opening of the markets. we're going to open a little lower pretty much across the board. i don't know how low. how we close is another story entirely. the young man presses the button, and we're off and we're running, and we have the dow
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opening with a loss of about .14, 15 percent, 57 points down. the vast majority of the dow 30 are in the red. there's not that many winners so far this morning. the s&p 500 also opening ever so slightly lowering you're -- [laughter] flat to slightly lower, i'd call it, down .06. the nasdaq composite on the down side -- no, it's not. st the up a fraction, .07 higher. probably on the strength of google. let's is have a look at big tech, they are winners except for apple. apple's down $1, but alphabet-google is up 7%. amazon up 2. microsoft, 435. meta, 595. if pull out google again, please. yep, great report. good morning, or taylor. >> morning. stuart: we know this was pretty much about the cloud, but i want to talk youtube. it's doing well, isn't it? >> yeah. in the last four quarters, youtube for their ads and subscriptions has for the first time ever brought with in $50
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billion in revenue. that premium youtube subscription for no ads $13.99. they're look at youtube tv to be profitable this year. so it's maybe a less talked about story, but very important when you think about diversifying the revenue base. stuart: i watch it all the time. >> do to you? you're so young and hip. stuart: thank you. [laughter] get some more air time if you want it. we had some earnings reports before the bell. i want to the start with eli lilly because that thing is down. >> a big surprise here, zepbound rain mounjaro. the weight loss drugs are saying sales were impacted by inventory declines. remember last month the fda took them off the shortage list, but again, not enough to really sort of help meet the command. so they were impacted by some inventory and wholesale issues. stuart: so they can't meet demand, is that it? >> uh-huh. stuart: down 11.5%. that's a drop and a and a half.
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how about caterpillar? >> weaker than expected results due to lower demand, stuart. frankly, due to lower volume and lower sales. now remember, the ism manufacturing index has been in contraction territory. a manufacturing recession in the last 2222 of the last 23 -- 22 of the last 23 months. people feel like this manufacturing sector is weak and a recession, caterpillar feeling. that's. stuart: kraft heinz. >> near a 3-month allow -- low, sales are falling short basically on both volume and a mix of pricing. they're highlighting a lot of weakness in north america as well. stuart: a lot of stocks are down including super micro. what? 30%? >> wow. stuart: what happened? >> so their auditor, ernst and young with, has resigned in a filing. this is the company that the doj came out and said they were investigating the company's financials. ernest and young coming out and saying that they have worries about the company's commitment the the integrity and ethics.
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so this is a huge accounting issue and never good when ernst & young, your auditor, is saying we're pulling out. stuart: not good. down 30%. amd, their earnings came down earlier, and their stock is down 9%. >> this is sort of that priced to perfection story. if all of these companies can blow it out of water, but if you're amd and you're migz a little bit -- missing a little bit, it's the never good. they forecast. .2-7.8 billion. -- 7.2. expectations were 7.5, but they're worried about that low end of the guidance. that shows tough to blow with it out of the water. data center is the most important segment for amd. hay did okay but, again, they're bringing in $if-- 3.5 billion, expectations were 3.46, so you're beating, but it's a rounding error. remember, you have to blow it
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out of the water. stuart: look at super micro, now it's down 31% aseason sonnishing. chipotle, are they down as well? if yes, they are. >> yeah. we're kind of hitting some, like, weakness, right? listen, they're saying same-store sales disappointed. the company missed a little bit on revenue. they are seeing higher traffic. they are pointing to the smoked brisket that did well. but remember that social media story that went viral about them cutting back on portions? if so their costs for food actually went up because they are giving out bigger portions because they don't want to go viral for being skimpy now on that big, big burrito bowl. so they highlighted that and said we're going big. stuart: that's fascinating. let's talk bitcoin because we checked this a few minutes ago. $71,685 a coin, down a little. but that is still near the all-time high. >> so we sat here 24 hours ago, stu, and said that the record was $73,700 that we hit back in march. we're fall ago little bit today
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but really so close to that record. we'll be tracking this. the good news is it doesn't close, so we'll be up all night -- stuart: i think we found a stoc? >> finally, right? stuart: -- that's a big winner this morning, and that's snap. up 8.5%. and i know why. stop buyback -- >> $500 million share buyback. stuart: works every time. >> there are some fundamentals. they said our balance sheet feels strong, we really want to to reward investors. you can increase the value of the shares. but they did say from the fundamental reason, they're going back to their three core missions. you want an app layout that simplifies communicating with friends, using the camera and watching entertaining content. they did that, and the shares are winning on it. stuart: we get some tech earnings after the bell this afternoon. what are you looking for with microsoft? >> okay. so microsoft is going to be the biggie, right in they've been the the big underperformer in the nasdaq 100 in the last few
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months. a there concerns -- are there concerns they cannot blow it out of the water. analysts are saying the co-pilot deployment, that this is going to be the biggie especially with that interest in openai. stuart: meta's a biggie. >> huge. $40 billion many revenue up from 34 billion last year, year-over-year. earning, look for that to be up year-over-year, so a lot still to come tonight. stuart: we found a couple of winners in the end, didn't we? >> finally. we got there. stuart: pollster frank luntz warning harris she's sending the wrong message to voters. >> at what point is she going to tell the american people what a she's about, and she's only got seven day cans to go. i'm wondering if she's too late. stuart: liz peek has much more on that, and she's coming up. trump telling his supporters to forgive biden after he called them garbage. >> please forgive him, for he not knowth what he said. these people, terrible.
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terrible. terrible to say a thing like that, but he really doesn't know. stuart: you've got to smile. democrats demonizing trump, piling on the hate. how's that going down? we'll ask kaylee mcghee white. trump taking credit for the if recent stock market rally. >> they think trump is going to get elected. that's' the only reason our economy's -- [applause] that's the only reason the stock market is up. [laughter] stuart: it's a trump rally. we'll ask economist john lonski if he sees it that that way. we'll be right back. ♪ shatter every window -- ♪ every brick, every bone -- ♪
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stuart: all right, we are 12 minutes into the trading session. there's some red ink but in the much on the left-hand side of your screen. let's take a look at dow winners, there are several led by visa which is up 32. 8%. amazon, boeing, american express
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if dow incorporated, they're all up. s&p 500 winners, garmin if limited, fmc, vulcan materials or clearway energy. nasdaq winners, clearway energy, fall bet inc. -- alphabet, ge health care edge. there's the winners. we have the latest report on gdp this morning. the economy grew at an annual rate of 2.8%. got it. edward lawrence at the white house. 22.8% growth -- 232.8% growth. -- 232. 8% growth -- 2.8% growth. >> reporter: in the bid to be the next person in that building behind me, former president trump wants you to remember that all prices are up about 202% under the biden-harris administration -- 20%. the gdp report shows it actually went down slightly from the last quarter. the white house touting this number still as a sign of strength. the former president, president trump, seeing this as government spending masking underlying
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weakness. >> we had the best economy in history. we're going to make it much better than even that. we're going to bring all these companies that left us because of stupid politicians on our side, they allowed it to happen. they're all coming back. either that or they're going to have to pay tariffs like they never had to even think about before. [cheers and applause] >> reporter: the president wanting to protect our industry with tariffs. now defending the biden-harris economy, president joe biden with a redl revisionest history yesterday. >> we created a record 16 million new jobs, more than any single presidential term in american history. wages are up. we brought inflation down at the same rate it was before the pandemic. matter of fact, she's making a comeback. where the hell is it written saying we can't be the manufacturing capital of the world? >> reporter: according to the bureau of labor statistics, the economy badded -- added back all the jobs caused by the pandemic. it actually lost a colt of
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28,000 jobs -- lost a total of 28,000 jobs over the last three months of the biden-harris administration. a new jobs report out on friday, and that is expected to show a little weakness because of the boeing strike as well as the hurricanes that came through. back to you. stuart: all right, edward, thank you. john lonski, he's an economist, and he joins me now. 2.8% growth, that still shows strength. >> that's quite good. it's only slightly under that3 pace of the previous quarter, and moreover, real consumer spending took off. that went up from 2.8% in the second quarter to 3.7 in the third. however, i think it's important to point out, guess what real government spending grew with by? stuart: 9%. >> 5%. that's still incredible. [laughter] 5% is well above, again, the rate of growth you had for the overall economy. stuart: they're spending money now to get it in before biden leaves office. that's' the theory, isn't it? >> yeah, that might be part of the theory, but my goodness, you have a situation. the past year, the government
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has spent nearly $2 trillion more than it took in in terms of tax revenue. no wonder the economy's doing well. no wonder consumers are spending money. stuart: that's not the way it's supposed to be to. nearly $2 trillion of overspending, deficit, when the economy's growing 2.83%. it's not supposed to be like that. >> this has no his for call precedent. -- historical precedent. unless government spending slows down considerably, you are going to have renewed problems with price inflation. it's inevitable. look at home prices. we have this increase in mortgage yields over the past year, couple of years, and yet home prices are still setting new record highs. stuart: how about that? i want you to listen to what donald trump had to say about the stock market rally. roll it. >> kamala has also caused untold misery through her destruction of our economy. our economy is not -- it's like a fake economy. some of the best, some of the
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best people on wall street are saying the economy's only good because hay think -- i don't want to say this because other people have said it. it's not me saying it. they think trump is going to get elected. that's the only reason you are economy's -- [applause] that's the only reason the stock market is up. stuart: that's the reason the stock market is up. john lonski, do you think this is a trump rally? >> i think it is to an extent. at least investors no longer have to worry about higher taxes and more government regulations you should a harris administration -- under a harris administration. and moreover, they probably look forward the getting rid are of the inflation reduction act and if all of these mandates related to green energy. so i would say, i would have to give the approved -- improved chances for trump as being president some of the credit for this equity market rally. stuart: the idea of deregulation is a very strong idea in trump's favor. >> that's so important because there is an essential difference between donald trump and harris, and that is donald trump
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believes that the private sector is going to do a much better job at growing this economy, solving our problems whereas harris has the belief that it's up to the government to save the u.s. economy. to lead us forward. but history tells us that it's the private sector that excels at this particular if function. look at china. once china has begun to turn towards more central planning, central control over its economy, what has happened to its economy? it as has slowed considerably. and china's stuck with millions of unsol apartments, and it has -- unsold apartments, and it has roughly 1 million electric vehicles sitting on the lots that it can't sell. stuart: we'll have to learn that lesson. john lonski, see you soon. some tech leaders seem to be making nice with trump before the election. okay, like who and why? why are they making nice? lauren: there's tree of them. all three have been sued by the bidenen department of justice and/or the ftc.
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they are apple, google and amazon. the biggest companies out there. so reports say that tim cook, sundar pichai and andy jassy have each called trump on the phone. they're not trying to be an elon musk-type sur i gate, they just don't want this aggressive relationship after president joe biden's regulatory arm has attacked their businesses. has attacked their bread and butter. so they're making nice. stuart: trump will make some serious changes at the ftc. [laughter] guaranteed. can't wait. all right, thanks, lauren. coming up, president biden just made his own deplorables speech. he called trump supporters garbage. that was the word used by one speaker at trump's madison square garden rally to describe puerto rico. the white house tried to walk it back, but it was too late. biden's hatred of trump clouds his judgment. you know, you really should not insult half the country. that's going to be my take at the top of the hour. harris gave her closing argument last night, 30-minute speech. it included no real policy
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updates. it's the final stretch, and the democrats are worried their candidate is losing ground on the issues. that story next. ♪ i want your loving, i want your revenge. ♪ you and me could write a bad romance. ♪ i want your love and and all your lover's revenge -- ♪ you and me cuddle write a bad romance -- could write a bad romance ♪ ace benefits and retirement savings. voya provides tools that help you make the right investment and benefit choices. so you can reach today's financial goals and look forward to a more confident future. voya, well planned, well invested, well protected. silver is at a ten year high. kootenay silver boast one of the largest resources owned by a junior company with a new high grade discovery in mexico. the potential for growth and leverage to silver is significant. kootenay silver. do you have a life insurance policy you no longer need? now
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stuart: today kamala harris will be in three battleground states, north carolina, pennsylvania and wisconsin. bryan llenas is in harrisburg. bryan, do we mow if harris will address bidens' garbage comment? -- biden's garbage comment? >> reporter: stuart, good morning. it'll depend on if she takes questions, because if she does, it'll be question one, two and three. we do know that his -- her running mate, governor tim walz, did address this on good morning, america, this morning x he said that president biden clarified his comments and that the harris campaign has made it, quote, absolutely clear that everyone can be involved in this campaign. well, look, last night ten to bees of thousands of people showed up for vice president kamala harris' closing message at the ellipse in washington, d.c., the exact spot where trump
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spoke on january 6th moments before the u.s. capitol riot. now, harris says she wanted to remind americans of who trump really is, and she did it last night using stark and alarming language. >> they didn't do that. only to see us submit to the to the will of another petty tyrant. we are not a vessel for the schemes of wannabe dictators. this is someone who is unstable, obsessed with revenge, consumed with grievance and out for unchecked power. >> reporter: harris also a made the case, if elected, she will be the one who who will unify harris and trump supporters. the harris campaign says the message last night was meant primarily for undecided voters including moderate republicans, many of whom supported former republican presidential candidate nikki haley. haley is campaigning in
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philadelphia suburbs with republican senate candidate dave mccormick. last night on "special report, haley criticized harris' focus on january 6th. >> the fact that she goes back to january 6th, people know how they feel about january 6th. what they're living right now and what they're deciding on is whether they want another four years like the four years they just lived. >> reporter: haley also said the last time she spoke to former president trump was in june, but she says she remains on standby if the campaign needs her. she's concerned about female and latino voter outreach. stuart? stuart: bryan, thanks very much, indeed. thank you, todd, for being with me for the hour. still ahead, art del cueto will react to trump promising the seize migrant gang assets to compensate victims of migrant crime. chairman james comer will react to a dhs employee warning about tim walz's connections to the chinese communist party. kaylee mcghee white reacts to harris demonizing trump in her
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closing argument, and democrats, they're ramping up the fear-mongering that a trump presidency will put women at risk. carine hajjar on that. the 10:00 hour is next. ..
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