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tv   Varney Company  FOX Business  November 1, 2024 9:00am-10:00am EDT

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the nasdaq 91 points higher. the s&p 500 up half a percent, 28 points higher on the news this morning that the u.s. economy added 12,000 jobs in the month of october, way lower than the expectation which was 100,000 plus jobs for the month of october and, of course, we are talking about the impact of the strikes as well as the hushes -- hurricanes as an issue here for the markets. and for the economy. great conversation, everybody. we so appreciate all of you, julia pollack, joel shulman, steve moore, john lonski and cheryl casone. thank you for joining us this morning. don't mis"sunday morning futures" this sunday on fox business, not on fox news, 10 a.m. eastern live. i will be here, and i hope you will be too, and we will talk with the arab-american mayor who recently endorsed president trump, and we will also talk with senator ted cruz and lara trump. have a great weekend, everybody. varney and company ten picks it up. stu, take the it away. stuart: here it is, the last big
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report on the economy before the election, yes, it's jobs day. in october only 12,000 jobs were added to the economy, the low number in about four years. some effect from the hurricanes and strikes built into this very low number. the unemployment rate stayed at 4.1%. there's political significance to this. clearly, a weak labor market right before the vote is. all right. now the market reaction coming after a sharp selloff yesterday, thursday. the dow up this morning maybe 200, s&p up about 25, 26. the nasdaq up about 85 points. quickly to apple's stock, it's actually moving lower. their financial report showed solid iphone sales, but they're down because of that $14 billion european if tax payment they had to make. amazon, they're going straight up. their growth rate has improved over the last few quarters. that stock is up a solid 6%. here's the big story of the day, interest rates. they're going down, way down, on that weak jobs number.
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the 10-year treasury yield is way below 4.25%, it's 4.23 at the moment. it had been down more than that. and the2-year only just above 4, 4.08, to be precise. 9 bitcoin, where are we there? i think it's below $70,000 a coin, yes it concern no, it's right at 70 grand. oil, last time i checked it was 71, still at $711 a barrel. -- 71. gas down one crept, $3.12. diesel, $3.56. another political firestorm for the harris team to deal with. surrogate mark cuban says you never see trump around strong, intelligent women ever. look, he tried to clarify, but the damage has been done. like biden and his garbage comment, he has insulted a large chunk of the electorate. kamala harris plays the celebrity card to bring in the women 's vote, jlo a appeared with her in las vegas. trump announced he would create a new cabinet position and issue
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an executive order to reduce the cost of living. this would be in addition to to elon musk's efforts to cut $2 trillion from government spending. new numbers from wisconsin show a shocking rise in the cost of living there. so how come the race in that state is so close? it's november the 1st already, 2024. only four days left. "varney & company" is about to begin. ♪ ♪ if you start me up, if you start me up, i'll never stop ♪ ♪ stuart: there's my song. [laughter] don't you love it? on a friday morning, there's nothing like start off the show with rolling stones and "start me up." let's get going. we have the jobs report, it's a stunner. only 12 thousand jobs added in the month of october -- 12,000. lauren's with us. lauren: yep. and that is the smallest number
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in about four years. go all the way back to december of 2020. 12,000 jobs added, that that's it. that is because of the labor strikes at boeing and two hurricanes. if so the household survey, that gets you the unemployment rate right there, 4.1%, that stayed steady. response rates were down. if so i say this data is nose city, but what's not noisy is if you look at the previous two months, both september and august were revised down by a combined 112,000. that is not encouraging news. and as you can see here, look at the sectors that created growth. mostly government, health care, social assistance. but huge declines in manufacturing and in business services, down more than 45,000 each. stuart: i wonder how the harris team is going to spin this. a very low number right before the vote. well, we'll get to to it later. we'll get the response. we are, indeed, just four days to election day. trump and harris held dueling rallies in nevada yesterday. they made their final pitch to
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to voters. trump had a message of unity. roll it. >> we brought together veterans and union members, soldiers and steel workers, farmers and autoworkers and patriotic moms and dads of every race, religion, color and creed. we're welcoming historic numbers of african-americans, hispanic-americans, asian-americans and arab-americans -- [applause] the did you see in michigan how well we're doing with the arab-americans? yeah, it's great. stuart: did do you with see the guys in the background there wearing garbage worker vests? nice touch there. meanwhile, harris brought out pop star jennifer lopez to campaign for her in nevada. >> i believe that women, women have the the power to to make the difference in this election. [cheers and applause] if i believe in the power of latinos. we know that together we are the difference in this election. we know the man simply does not
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respect the freedom or the intelligence of women to be able to make decisions about their own lives. he said that he will do what he wants -- now, i'm about to quote it or not. stuart: kid she just say that the trump insulted the intelligence of women where cuban did exactly that about trump? okay, i'll move on. lauren: cover of the new york post today. stuart: i certainly did. we're going to use it later. trump touting unity, harris attacks trump. got it. all right, here we get to it. now listen to what billionaire and harris surrogate mark cuban had to say about the women who support trump. >> donald trump, you never see him around strong, intelligent women, ever. it's just that simple. they're intimidating to him. he doesn't like to be challenged by them. and, you know, nikki haley will call him on his nonsense with reproductive rights and how he sees and treats and talks about
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women. i mean, he just can't have her around, it wouldn't work. stuart: you know, we need sean duffy and, fortunately, we've got him on the show this morning. sean, that was a clear insult directed at women who vote for trump, but does it move the needle so close to the election? >> attack donald trump and who he brings around him, but in the end, you're right, this was an attack on women. people like kellyanne conway or monica crowley. i mean, there are really strong women, very opinionated and very smart. and, again, the it's ap an attack when america looks at kamala harris and goes, really? is she the smart woman? the word salad queen that we're supposed to look to her as someone who we hold up as a smart, intelligent woman in america? again, stuart, you want to the expand your base, ask you don't expand your base and the motivation of your base by attacking the very people who are going to go to the ballot box in the next four days. and that's exactly what this
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says. whether it was the garbage point or now, to your point, this comment if about women, again, i don't think there's very many people left that haven't decided, but of those, this does not play well, attacking them. and what it does also is i think it motivates the republican base to turn out and vote. i'm just going to tell you, you played jlo out there for kamala harris, again, she's talking about women voters. and, again, women vote at 52, 53% of the electorate. men don't vote as much. i think this is going to be an election, stuart, where men are so sick of being demonized -- they're not even being polled, but they're going to show up in droves and have their voices heard in this election. that may be the story of the 2024 election, what men do to push back on the demonization that the left has given them for the last four years, eight years, twelve years. stuart: just listen to what trump had to say about harris' ability to perform under pressure. >> >> but being a candidate is nothing compared to the pressure of being president.
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i know both. if she can't handle the press conference or the television interviews, which she can't -- she should do joe probegan. it's a really good interview -- joe rogan. >> she can't handle the presidency. she'll get overwhelmed, melt down and millions of people will die. this is not a charity event, this is an election for the biggest and most important job in history. [applause] if there's no participation trophy for incompetent candidates. stuart: is she just a poor candidate, sean, or is she really not studented to the presidency? -- suited to the presidency? >> well, listen, we like candidates to do interviews because we can the test their mettle, stuart. how can they respond, how can they pivot, and that's an indication of how well they'll do in a presidency, with a xi jinping or putin. and, again, i don't think we've seen that met ifing in kamala harris. -- met ifing. she hasn't let us -- led us to believe she's going to be a strong leader. we haven't seen her as a strong
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leader, taking the responsibility whether service the on the border or others and delivering really well on the issues that have been given to her. again, i think trump makes a good point. i don't know that she's shown she has the mettle to be the president and stand up to world leader in this global conflict we now face. stuart: fair enough. sean, thanks for being with us. we do have fox business special election night coverage on tuesday, of course, election day. we start at 5 p.m. eastern. check futures, please. plenty of green this morning. not like yesterday. we've got green all over. kenny polcari joins me. kenny, 12,000 jobs added if in october. that's a very weak report, but it's the positive, i think, for the markets because interest rates are being pushed way down. what say you? >> i think it's temporary. i think you have to look at this one report in the context of why are we getting such a weak report. you had two hurricanes, you had this massive strike at boeing. i think it's a temporary blip. i don't think this at all
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suggests that the job market is falling out of business the way that, you know, maybe the futures markets and the bond market or some of the other people talking about are going to want to to make you believe at all. look at unemployment, stayed right at 4.1%, right? there's no change there. i think you have to kind of look past this one just because of what we saw happen during the month. stuart: okay. let's turn to apple. earnings out late yesterday. the stock actually is down a little bit this morning because perhaps they've got to pay this $14 billion european tax fine. but are you buying any more apple today? strong report. >> you gotta love apple. heir killing it, right? -- they're killing it. they make $100 billion a quarter, right? they made $96.95 billion in one quarter, right? multiply that by four, there you go, right? you're getting $400 billion in a year, and that's just ongoing revenue. all their other metrics are killing it, and they're selling off apple because they've got to pay $14 billion in a fine or say
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growth is slowing in china? go ahead, you sell the apple. i'll buy more on any weakness. i'm happy to take the opposite side of this bet. stuart: amazon had had a strong report. they're up this morning. are you buying any more amazon? >> i'm not going to chase amazon. we own it, i own it, but i'm not going to the chase it as it goes higher. i'm not surprised by the amazon results either. so, no, we own it, but i'm not buying it. apple on weakness, i'd be absolutely buying it. stuart: kenny, thanks very much, indeed. you have a great weekend. see you later. >> you too. stuart: coming up, j.d. vance revealing the biggest difference between donald trump and kamala harris. roll it. >> we're not trying to censor our fellow americans. we'll attack kamala, her policies and ideas, but we're not trying to say you should be silenced. stuart: gop national spokeswoman pit ca will be with us later in the show on that. elon musk promising to slash spending $2 trillion. his mother actually thinks he
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can go further than that. roll it. >> i think more than $2 trillion. i think he was just being modest. [laughter] he can do -- i mean, look what he's done with twitter to x. it's incredible. stuart: yes, it's. we're going to ask economist kevin hassett what he thinks is possible in cost cutting from if musk. we'll be back. ♪ i just want to love somebody who won't leave a hole in my heart. ♪ i just want to love somebody that don't want us falling apart ♪
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stuart: on the futures market this morning, it's friday right before the opening bell, we're up 170 on the bell, modest gains
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for the s&p and the nasdaq. price of gold this morning, here we go, is it at $2800 an ounce yet? no, 2769. bitcoin, last time we checked it was around 70, still around 70, 70,100. john paulson is being floated as maybe treasury secretary under trump. he's weighing in on musk's plan to i cut spending. hillary vaughn joins us. musk says he can cut $22 trillion -- 2 trillion. how much does paul sonthi he can cut? >> reporter: -- paul sonthi he can cut? >> it seems like he's on the same page that he can cut about $2 trillion in government spending if trump wins a second term, and he is put in charge of getting rid of government waste. >> how much do you think we can rip out of this wavessed $-- wasted $6.5 trillion harris-biden budget? >> well, i think we can do at least $22 trillion.
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your money -- $2 trillion. your money is being wasted, and the department of government efficiency is going to fix that. [cheers and applause] we're going to get the government off your back and out of your pocketbook. >> reporter: and he might have a partner in that. if trump is elected, billionaire if investor john paulson, the "wall street journal" reports paulson could be one of many people being considered for trump's treasury secretary if he wins a second term. paulson sonthis he could save at least a trillion by getting rid of the biden-harris tax credits for solar, wind and electric vehicles. >> why should the average, the hard working americans pay taxes, give it to the government and the government gives it to a car buyer in california or homeowner in california to subsidize their purchase of an electric vehicle? that's not fair to the people that aren't driving electric vehicles. >> reporter: trump has also a made tariffs a key solution to to increasing revenue while at
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the same time lowering tax it is without adding to the deficit. paulson predicts a 15% tariff could raise about $450 billion in revenue alone. analysts though are mixed on the impact tariffs would have. some say it would make inflation worse, others say it's merely a negotiating tactic to get companies to onshore which would have a huge economic benefit. and trump's pledge to get rid of those clean energy tax breaks could save nearly a trillion, but the is treasury secretary and president need congress to actually repeal any taxes in place. stuart? stuart: hillary, thanks very much, indeed. now, trump says he will create a new cabinet position whose sole purpose will be to reduce the cost of living. former chairman of the council of economic advisers kevin hassett joins me now. kevin, i'm trying to synthesize the policy here. it seems to be trump would cut taxes to put more money into people's pocket. he would cut spending to take money away from the government. is that the main thrust here? >> yeah, that's right. and he will also deregulate
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which will reduce the cost of things for people. so if you think about it, you know, the cost of cars have gone up so much because of these fuel economy standards that are making all the automakers make these electric cars nobody wants. and they've got to make more money on the ones that actually have gas engines because of those. that's costing people a couple thousand dollars a car. so you get rid of those regs too, and it helps people get ahead really fast. stuart: a what would it do for the economy? you cut spending and increase tax cuts so there's more money from people going into the economy, less money going to the government. is that good economic policy? >> yeah, sure. on the tax cut side, 100% it's good, and it's tried and true. it's what we did in the first temple -- term, and it gave us the 3% people said was impossible to achieve, about a $6,000 pay hike for the typical worker out there, and that happened all pre-covid. but the tax cut and de-reg side, we've seen that before. the cutting of the spending is
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much more important because the deficit under president trump average ad $800 billion a year. it was bigger than a lot of us like, right now it's closing in it'll be about $2 trillion this year. we had to negotiate with nancy pelosi what we were spending. so the amount of space there is to reduce spending is enormous. think about it, if we went back to the path that that that we thought we'd have in 2019, then we'd reduce spending by about a trillion dollar dollars a year. i'm not saying that's possible because a lot of it's interest payments, and we're going to have to get ahead of the curve on that, but there's a huge amount of room to stop wasting people's money, and if we do that, we don't have to tax them. stuart: it's a wonderful thing. kevin, you saw the jobs report today. very weak, only 12,000 jobs added. this is not what kamala harris wanted to see, is it? >> right. well, the 12,000 job number is also like a little bit of window dressing, right? because the private job creation
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was negative, and the manufacturing job creation, i think, was -46,000 in one movement so the place where ordinary if blue collar workers are experiencing the economy or meeting the economy is falling apart relatively rapidly. and the way that it hasn't showed up in the top-line numbers is that, you know, janet yellen and the people in the obama -- i mean, the biden administration, biden-harris add administration are jacking up government spending and jobs to to try to keep the boat afloat. if you go look at the gdp report that just came out, defense spending went up in one quarter alone by 14%. 14, stu. why do you think they did that right before an election? stuart: juicing the number, i guess. that's what it has on to. [laughter] >> that the's what i think. stuart: kevin, great stuff today. thanks for joining us, and we will see you again, i'm sure. >> great to be here. stuart: quick check of futures before we get to the market open. we're up 160 now on the dow, 222 for the s&p, 50, 60 for the nasdaq $222 -- 222 for the -- 22
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stuart: three minutes until the opening bell, dow's up 170. nasdaq up 67 points. mark mahaney with us. you raised your price target for uber. i saw it sell off after the earnings report, but you think this thing is can go to $120 the a share? >> yes, i do. we had a december appointing earn -- disappointing earnings, but i want to stay the course with this name. i think if you look at the fundamental trends, kind of leave aside the expectations, fundamental trends, i think they were very consistent. ad revenue continues to rise. record levels of profitability. i think free cash flow is going to continue to increase. they're going to use that cash pile that they're building up now to start bringing down the number of shares that are out there. that's always a good, positive step. and i think the market's probably overfixated on one quarter's bookings the disappointment. i think that bookings growth rate, you know, for mobility, for their ride-share business, i think it's going to be much more
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consistent than people realize next year, so i want to buy this dislocation. these points come up, this is one of the dips i want to buy. stuart: okay. that's a big prediction right there, mark. you raised your price target on amazon from 240 to 260. good report? >> yeah. you know, by the way, it just seems like profit profitability just surprised to the upside on almost all of the big tech names, and and amazon was a great example of that. they hit record high margins on their north american if retail business with with, their international retail business, their aws business. the profitability outlook was dramatically stronger than people expected. that's why the stock is up 7% in the premarket, and i think the stock's going to go higher. i think there's still more acceleration for that cloud business to come next year. i think their amazon his thing revenue, i think that's ooh going to accelerate into next year too. and now that the cash pile's getting big enough, it's time for amazon to start joining kind of the capital returns club, which is pretty much if every
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other major tech company. with $100 billion in cash,s they can start the returning that to share holders, so i zoo see -- i see two or three nice catalysts going into next year. stuart: how about meta? i think you raised your price target there, 600 to 675. enter yeah. t not as much upside. solid upside from here, mid teens, high teens, so it's the not one of our top picks. if it got more dislocated, it would be. i thought fundamental trends were really positive. all these companies, though, that are generating a lot of cash, they're returning it to shareholders and stepping up that capital expenditure cycle. these companies are leaning big into a.i., and i think they're making the the right call. it's a smaller buy for me. stuart: mark mahaney, you're making some really, really big calls, and we love to hear it. thanks a lot, have a great weekend. look at the market, it is now -- it will be when they push the button, moments away. and we're off, we're running. the dow is opening with a
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near-200-point gain. the dow 30 have opened up, most of them anyway, plenty of green. a little bit shy of a half percentage point gain. the s&p 500 on the upside. the percentage gain there is justin .423 -- .42. pretty solid. nasdaq composite, big loss yesterday, up a half percentage point this morning, 18,187. let's have a looked at big tech, amazon at the top, microsoft is second. both of those stocks are up. but meta, alphabet, apple, they're all down. let's pull out amazon nor a moment. morning -- for a moment. morning, taylor. this is a surge. when amazon goes up 6, that's a surge. >> i know. and the rest are of the market usually follows, right? the way some of these big companies go. aws, the cloud product of amazon, up 19%. accelerating the from just a 12% growth the year before. so analysts really like that they're seeing acceleration in
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the cloud business. stuart: okay. apple, i thought they had a pretty good report about iphones, but the stock's down. why? >> because of the services revenue. it missed expectations, right? if so when you think about this company, half the revenue comes from iphones, and that's the hardware. but services is the higher margin business as well, and that only grew about 12, and it missed expectations. stuart: they had to pay $14 billion to the europeans? >> they did. yep, a one-off charge, and it did hit the bottom line. but i think a lot of analysts are thinking that was a one-time thing. stuart: the europeans will be back for more. [laughter] intel, they lost $16 billion. put pit on the screen. what's happening to the stock? can't believe it. >> okay. let's pretend i talked to how you and said analysts thought the company would lose a billion, and the company lost $16 billion, and the stock is up a 5-6%? you would tell me i was crazy, right? if these are restructuring charges, they're putting all of
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the bad crap behind them, now they can move forward. inventory levels are senatorring to normalize -- starting to normalize, and they're seeing data center and a.i. beat expectations. that that's what you want to see, right? you want data center and a. i'm sorry. that's the business they need to be fix focusing on. analysts are saying, okay, these one-off, big charges for the bottom line, maybe we can look forward. stuart: got it. wayfair, furniture online guys, i think. they were up big and now they're down. what happened? >> yeah. so sort of a mixed story, right? they beat on both the top and the bottom line. revenue per customer increased, but the number of active customers fell, right? so sort of that push-pull you get in the market today. stuart: a couple of bigtime energy companies report before the bell, or, quickly with exxon, please. >> a little bit of a drop in profit because of lower oil prices, but they're hiking their a dividend 4%. you can't complain with that. stuart: chevron. >> similar story. better results, good operational
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results. the ceo saying that they started that key project in the gulf of mexico and also returning record cash the shareholders. stuart: at a time like this with four days to go til the election, we have to check trump's media stock, djt. yeah, down again. >> yeah. we were down big yesterday, right? we had a halt in some things for volatility. i come to you with no fundamental news, but it's something we watch. we had a high of the high 40s, low 50s. record low of about $12 a share. we're trying to find our way as we count down to tuesday. stuart: how about super micro. don't tell me they're down again, yes, they are. >> another 2. down 38% now for the week. you've pretty much been in a freefall this year. they peaked in march. , back down to the $28 stock. you had the short seller report from hindenburg in august, then reports the d doj was looking into them. then they clayed the 10k
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filing -- delayed. then, of course, this week earnest and young, their auditor, resigned. stuart: about as bad as it can get. the taylor, thanks very much, indeed. check out the big board. we've got a gain of 2611 points. that is -- 26 the 1 points. look at the dow winners. plenty of them. amazon is, chevron, inteling boeing, american expression on the upside. the s&p 500 winners, headed by waters corporation, charter communications, cardinal health, amazon.com. up $13. nasdaq winners, atlassian, charter, amazon, marvell technology, siriusxm radio. they're all up, significant gains right there. all right, the the yield on the 10-year treasury, it is down a bit at 4.26%. that's interesting. earlier this morning it had gon. it had gone down much more than that earlier this morning. it's now down just only slightly. the yield, that is. the price of gold, $2, 765 per ounce. bitcoin, $70,000 per coin.
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oil, $70 a barrel. nat gas coming in at $2.71. the average price for a gallon of regular, $3.12. and we have, of course, in california we have it at $4.55. that's california for you. coming up, mark cuban is the latest democrat to insult trump supporters. >> donald trump, you never see him around strong, intelligent women, ever. it's just that simple. they're intimidating to him. stuart: really? tammy bruce is here to take that to pieces, and she will. [laughter] border patrol sources say illegal migrants are desperate to get into america ahead of the election. they're betting that in -- if trump wins, they'll close the border. senator roger marshall is here on the show shortly. kamala harris has been forced to address pro-hamas protesters on search occasions -- on several occasions. >> you know what? if listen, we all a want the war in gaza to end. everybody has a right to be
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heard, but right now i am speaking. stuart: is this a big problem for her? we'll ask marc thiessen. he's next. muck i knead you, you, you. ♪ i need you, you with, you. ♪ when the sun goes down, ain't nobody if else around ♪ if ♪(voya)♪ there are some things that work better together. like your workplace benefits and retirement savings. presentation looks great. thanks! thanks! voya provides tools that help you make the right investment and benefit choices so you can reach today's financial goals. that one! and look forward,
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your medical costs. so, call now and see why a medicare supplement plan from a company like humana just might be the answer. ♪ ♪ stuart: kamala harris will head to the battleground state of georgia this weekend. 3.6 million have already cast their votes in that state. madison alworths me now from forsyth county, georgia. what can you tell us about these over 3 million that have already voted. democrat or republican? if. >> reporter: so, stu, when it comes to these early voters, we can't see if they're democrat or republican, but we can look at counties which tend to vote one
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way or the other and see what their turnouts have been. we're in forsyth county, a majority republican district, and we've seen over 64% of voters turn out here. also very interesting though in this county in particular, voters between the age of 18 and 24, over 50% of registered voters here in that age category have turned out. and we know younger voters tend to vote democrat. one other thing, statewide majority of those early voters or are women, and if that is a group that harris does well with. so while can't tell you democrat verse republican, the reality is here in georgia, majority of voters are voting early. we are at the 3.7 million tally mark, over half the active voters in this state. it's on set to the break records there, and really the secretary of state tells me he thinks they're going to break overall voting records here in georgia. getting back into those counties that we get a clearer picture, republicans have been doing a good job of getting their base
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to vote early. two counties have seen 64% and 69 of their active voters turn out -- 69%. those two accounts -- counties both voted for trump by nearly 80% in 2020. while some of these typically republican counties have seen early voting season, other counties are getting bluer by the year with. we're here in forsyth, like i said. they've consistently voted for republicans, but that margin, it gets smaller. in 2016 romney took home 80% of the vote. in 2020 the trump walked away with just 65% of the vote. and we've been doing some exit polling here, talking to voters. i don't think we have the sound, but i can tell you about what some of those folks said. one person said he hasn't voted since clinton, he's voting for trump told. i had a registered republican who said trump doesn't abide by her valueses, so she actually voted for the libertarian candidate. and i had about three people not tell me who they were choosing to vote for.
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sos this is an important swing state, it's probably going to be the first swing state that we hear from, stu, on tuesday because of their election laws. harris is pushing hard, she's going to be in the state on saturday. no official trump events on the callen a daughter for this weekend, but we're staying posted on that. stuart? stuart: okay. four days until the election, see you later. thanks very much, indeed, madison. good stuff. many of harris' recent rallies have been plagued by pro-hamas protesters. watch this. [background sounds] if. >> it's the okay. that eat all rightment -- that's all right. if -- >> [inaudible] >> you know what? if listen are, we all want the war in gaza to end. everybody has a right to be the heard but right now i am speaking. stuart: look who's here in the studio, in new york city, marc thiessen, from "the washington post." good to see you. >> good to be with you. stuart: how big a problem is that, the pro-hamas
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demonstrators interrupting her? is it a problem? >> of courses. them gone from genocide joe to killer kamala. that's what they're calling her. but, look, where it's a problem for her is not that they're showing up at her rallies and protesting against her, it's that she's focusing so much attention and so much time in placating them. if you look at michigan, jewish insider, our friend here on fox, the editor of jewish insider, pointed out only 1% of the michigan electorate is aerowrap-american and, by the way -- arab-american, by the way, not all of them are pro-hamas, 2% of them are jewish. and her problem in dearborn isn't arab-american voters, it's autoworkers. it's the ev mandates that are going to cost her michigan if she loses. it's not going to be muslims. so she is spending so much energy trying to pander to this tiny, tiny sector to of the pro-hamas sector of the
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electorate that's never going to society for her anyway when she should be pandering to the awe auto worker by saying drill, baby, are drill. [laughter] stuart: john i paulson, she'll get rid of the ev mandates -- >> there you go. absolutely, amane. stuart: according to the ap, i think 64 million people have already voted in this election. now, you looked at the numbers, you written about it. is this good for harris or is it good for trump? >> well, i think that the people who are voting early are the people who, obviously, are decided, right? either in one category or the other, it helps the both campaigns in the sense they can focus op on turning out other voters. the big unknown in this electorate are these undecided voters. i did a deep dive into who the undecided voters. amazingly, 1 in 4 voters in the swing states are not committed. a quarter of the electorate still to this day, at this point is uncommitted, at least as of october 1315th. -- 15th.
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these are voters who should be trump voters. 66% are moderate or conservative, 74 disapprove of the job biden is doing, 68% disapprove of the job harris is doing. 79 say the economy is doing poorly, 66% say it's getting worse, and 52 say trump would do a better job handling the economy, but half of them say they might not vote. so these are voters that trump should be -- he should be focused like a laser beam these final days in convincing those voters. their problem is they don't care about abortion, only 3 say they care -- --3 % say they care about abortion. 44% say it's character and temperament that is making them hesitate the about committing to trump. he needs to bo to those voters and explain, i get you don't like me, but you like my policies. you don't get the policies without the personality. and he should be having nikki haley out on the campaign trail because she is the person who is
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exactly this voter who has all these hesitations about trump, but has decided to support him anyway -- stuart: but he hasn't invited him in yet she says she's available. >> i don't understand it. these voters could cut towards trump in the final days and he wins in a landslide, or they could is stay home and give kamala harris the narrow victory. and if that's what happens, he will regret not having. campaigned with nikki haley. stuart: interesting stuff, isn't it? >> it's fascinating. it's the super bowl. [laughter] stuart: mark marc thiessen, you're all right. of thanks for joining us. coming up, the spin masters in the harris am ca pain have had a very hard time this week. now along comes mark cuban who declares you never see trump around strong, intelligent women, ever. the insults are piling ultimate that's going to be my take, top of the hour. wisconsin's inflation hate rahs skyrocketed, so why is the race still neck and neck? we have wisconsin senator ron
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johnson in the 10:00 hour. more "varney" after this. ♪ could you be loved and -- be love and be loved ♪
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stuart: well, just look at amazon's stock. it is the up 7%. very significant gain for a company of that size. just shy of $200 a share. gerald storch joins me now, retail genius. [laughter] all right, a little flattery on a friday morning never hurts. amazon's ceo, andy jassy, he says they will continue spending big on a.i. is that what it takes to keep them number one? >> well, look, they gave investors something for now and something for the future. for now they blew i it out concern knockedded it out of the park on both sales and earnings with sales up 11% and earnings up 55%. and it looks like they're finally bringing all this growth to the bottom line. they're growing in, you know, in retail, they're growing in advertising, and they're growing in their cloud business. now they're focused on a.i. like a lot of companies. people main know this, but they don't just use a.i. in their current business, but they the
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also have it as a business where they sell their chips to other people. so they're going to be a player as this market grows. they're a competitor for nvidia. you know, think about that. on top of all the other businesses amazon has. so they have many ways to play the future, or, and it's pretty exciting to see the results this time. stuart: am i right in saying they're got a cash pile of $100 billion and they'll use it on a.i., for example, and other stuff? >> well, look, investors seem to be happy that they're spending big on a.i., and everyone says this is like the internet was at its beginning. a.i.'s the next giant growth lever, and they're going to be a big player in it. and look at the valuations of the companies where a.i. is the only play they have. so amazon has that plus everything else that they can grow in. so i think they are going to use their cash pile on a.i., and that's going to build the the next step, the next great leap forward in their business. stuart: amazon say they expect a robust holiday sales season.
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how do you see it? what kind of gains are we going to see? >> well, it's going to be robust for them because the internet, you know, e-commerce if is taking varian from bricks and mortar retail -- share from bricks and mortar rethat tail. amazon's been around for 30 years, and they've been doing that for 30 years. overall, nobody thinks that the holiday season's going to be robust overall, even the national retail federation numbers are one of the lowest growth rates in years. the consumer is stretched. all their money is going to necessities, to housing and health care, insurance, things like that. and if you break out the discretionary spending can component, that has been lagging significantly, and the consumer just doesn't have the money to have that, you know, blowout-type holiday season this year. stuart: amazon's e-commerce unit, big unit, maintained its share of overall e-commerce. that's a difficult feat to pull off with a company that size and market that size.
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>> look, it's hard to be precise, but they have something like 30% of the e-commerce business in the country. , think about that. and they're still growing as fast or a little faster than the market as a hole. that's a massive business that keeps concern as a whole. again, what they did this time that they have not done consistently is bring those sales to the bottom line. if they start doing that, it's a massive amount of profits. stuart: gerald storch, great stuff. thanks very much for joining us. see you again later, thank you. >> my pleasure. stuart: still ahead, wisconsin senator ron johnson on record early voting numbers. who does that help, trump or harris? elizabeth pitko will react to mark cuban's insult to pro-trump women. steve hilton on harris energizing democrats this if california. that will affect the balance of power in the house. and kansas senator roger marshall, he's a fifth generation farmer. what would farmers get out of a futcher trump administration? the 10:00 hour is next.
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