let me get your take john lonski good news once again good news this report abates concern labor marketting? john: it is right now but he were on the other hand would i is that i good news brings into question how much longer will this easing of inflationary pressures last in my goodness! the unemployment rate unexpected slowly dropped do 4.1% if labor market continues to tighten, this tell me we're going to even be facing renewed upward pressure wages going to increase labor costs also going to provide a boost to consumer spending as consumer spending picks up speed so should prices. >> well -- i mean you have revisions cheryl coming to that on that in a second, but let me get your take escrow lavorgna here because you've got a market that is celebrating this number we already heard from jay powell that he wants another 50 basis points cut, by the end of the year he said two more cuts i mean basically told us what he is going to do two 25 basis point cuts does this report put that in jeopardy. >> the fed went 50 in my view to give optionality if economy looked better would not have to

with the shanghai composite of two thirds of 1%, joining the conversation log ski group founder john lonski georgia congressman doug collins and fox business cheryl casone "mornings with maria" his life right now. ♪. maria: we are now 11 days out from the presidential election former president trump and vice president harris are buying for voters as they cross campaigns across the country digital political correspondent brooke singh been with the very latest from the campaign trail. good morning. >> former president trump vice president harris are back on the campaign trail hard with 11 days until the election, today trembles it with an interview with podcasting joe rogan at rogan studio in austin, texas he is also expected to take part in campaign events in texas in michigan. the harris campaign same vice president will not be doing rogan's podcast because of scheduling conflicts. on sunday former president trump is holding a massive rally in deep new york city at madison square garden, mike johnson is attending the sold-out event in the trump appearing stand by here is claiming that the w

we'll ask economist john lonski if he sees it that that way.back. ♪ shatter every window -- ♪ every brick, every bone -- ♪ 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 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

long haul going up, you want to be part of that roller coaster to stay in the game john lonski overallabout market. john: i would say for young people put the money in equities, okay. i made mistake when i was young put money in bonds -- the opportunity costs -- pretty large, i he you know what else i would like to mention home affordability a big issue for first-time homebuyers if you have enough people that cannot afford to buy a home that tell me one thing: home prices will eventual ease go lower especially when the baby boomers decide to sell homes in large numbers downsize their dwelling, a possibility what you are talking about this -- over happening consumer debt to get rid of it as ev, others mentioned we have to save more money, we have to cut back on spending, and all of this is pointing towards a slower rate of growth for consumer spending it is inevitable if a better financial balance for these younger you households. cheryl: george last word he makes great point has to would like buy a home koobt afford it that is gen z, that is millennial generation as well. >> foundation

autoworker joining the conversation acting ice director jonathan fahey and nonskid group thunder john lonski, "mornings with maria" is live right now. at least 17 are dead after hurricane milton slammed into florida's gulf coast on wednesday night cleanup efforts underway with analysts estimating billions of dollars in damage, connor hansen is live in tampa with all the latest. >> hurricane milton has passed but the cleanup and recovery effort is just beginning this is downtown tampa brics scattered after hurricane force wind blew the faÇade of the historic building and even though it was boarded up ahead of the storm it is not just hear from "coast to coast" and porta not just the hurricane force winds in the rain, storm surge, flooding all over the place and since the hurricane made landfall take a look at this hundreds of people have needed to be rescued from high water and flooded out homes in many of the elderly people who would not be able to get out on their own that will keep going for quite a while even inland of tampa this is in polk county the next county over dealing with the hea

[laughter] economist john lonski joins me now.t harris could just snap her fingers and miraculously lower prices? >> absolutely not. stuart: thank you. >> that's wishful thinking. stuart: she's got it wrong as well. prices didn't start to spike during the pandemic, they started to spike after they spent all this money unnecessarily, am i right? >> that's correct. we had all of these individuals and businesses receiving money basically from the government for doing nothing, and when you pay somebody to do nothing and they spend the money, prices have to go higher. stuart: you can't jawbone prices down. you can't say, hey, you're guilty of price gouging, we're going to investigate you. that won't bring prices gown -- down, will it? >> it'll never work. look at the food industry, groceries. that's a very competitive the grocery. they are suggesting it's a monolith, that there's a bunch of grocery chains that set prices. that's far from the case. highly competitive industry, they want to win market share. they want to have selling pri

delinquency and expectations starting to really, really show cracks and not just among them and john lonski and jen with us on this and former president trump taking to the states to defend his tariff strategy after economic club moderated. my take, i'll tell you why i think the moderator made a big mistake. charles: maybe it feels too easy and too comfortable. everyone thinks it's the real thing here there's going to be a soft landing and you may not be able to see this and these are expectations of a soft landing and now they've been high before rights before the tech bubble crash and the great financial crisis and nevertheless, we've never been this confident in the soft landing and maybe caring you a bit and no one is buying you and showed you this on the somehow and coming to the professional money manger and 3.9% and anything under 4% has been considered a cell signal and contrarean signal and too much confidence can hurt people in the market and meanwhile traders have built up with the largest u.s. equities future position in his facts and another crazy chart that's not even close an

maria: there you go not one hand went up in the exchange, i would get to take john lonski. >> that tellsot a great deal of support for kamala harris among the union rank and file that is for sure, can i make a comment on the wage increase that's amazing 62% over six years an average annual increase of 10%, don't tell me that inflation is necessarily dead let's take into consideration right now the average wage is up under 4% for the entire country year-over-year in diffley begin to see wage growth picking up speed there is a very good chance that we will run into renewed worry, renew concern about price inflation we will not be bringing michael rowley a house of the judiciary educational workforce committees, it's good to see you, thank you very much for being here i know you ran the really brothers market a multi-market in ohio it's been in your family for over 100 years, i love that story i want to get your take on how we deal if not reached by january and your family business another family business. this is very touching go until january 15 in there trying to hammer out a deal right

joining me now cfra director of equity research, ken lon, dennis gartman and john lonski.u. the numbers coming out about 10 minutes ago, big banks third quarter earnings underway, jp morgan chase double beat, profits dropped for the quarter as they built up provisions for potential loan defaults, also reporting it holds $3.7 trillion of assets under management, up 15%. wells fargo reported mixed results, beat on earnings, missed slightly on revenue, stock ticked down by 2%, now it's up more than 3%. wells fargo also repurchased 62 million shares for $3.5 billion of common stock during that third quarter. your reaction to whether you're seeing and hearing so far? >> yeah, it's great to be here and jp more morgan is the bellr for the banks in the financial sector. we saw 9% growth in investment banking, also in asset and wealth management. the consumer slide, a little slower, growing 3%, downward pressure on rates means net interest income didn't grow as much and bank an a lifts are usually w worried lot, concerned about the health of the economy and the consumer, jp morgan

liz: john lonski, a pleasure having you on tonight. you for joining us. >> thank you. >> we have a real close allie in prime minister netanyahu? liz: it's an easy question about israel. u.s. ally for 75 years. kamala harris alarms porn policy pros with her answer. we'll show it. also tonight, kamala harris is staffers lysing trump and they're saying she's doing biden's campaign schedule dodging the media and avoiding town halls and pressers and new numbers also coming in on the swing states and moving towards trump here. we'll break it down next. >> a holt of people think maybe their vote doesn't count. it does. it does. it matters and this election could be decided by 1,000 votes, 500 votes. a tiny margin. so get everyone you know to register to vote. jot work we have done has resulted in a number of movements in that region by israel that were very much prompted by or as a result of many things, including our advocacy for what needs to happen in the region. >> do we have a real close ally in prime minister met ya hue? >> i think with

john lonski. >> man, the federal budget deficit may matter more to long-term borrowing costs like mortgageint. maria: there we go. great to be with you, everybody. "varney & company" picks it up. stu, take it away. stuart: good morning,

john lonski, it worked. they went from $39 an hour to $63 an hour. this tells me we will see more strikes and we'll see more unions say i'm going to do what they did, i'm going to do with the truckers did, i'll do what every other union i did in the last two or three years and we'll get our wages up. and we're going to either threaten stopping the economic activity of america or we're going get our wages up. that's what they did. >> and this is an example of the long-term cost of very rapid price inflation. it's that rapid price inflation that we've had over the past several years that has motivated these workers. they want to have that lost purchasing power of income restored and unfortunately, maria, if this does spread, that means we're going to be looking at faster wage growth which is a great thing for the workers but it may not be a great thing for price inflation. maria: yeah. cheryl, you've seen this wall street journal op-ed this morning on the strike and the op-ed talks about the politics, the power of the strike. here's what they write, qu

also with me is john lonski this morning. dennis, good to see you.hank you for joining the conversation. >> thanks for having me on and one thing i have to change, i'm no longer the chairman of the university of akron's endowment, i'm not the emeritus. that means i outlived everyone on the committee. maria: thanks for that. on boeing, we had a segment on boeing yesterday, the workers are doubling down on redescribing their legacy pensions. they rejected the labor deal with increased pay packages in an effort to end the five week strike. boeing held two rounds of negotiations with the international association of machinists and aerospace workers. that resulted in offers to only boost worker 401-ks, a lot of people said that signaled pension restoration may be more of a bargaining chip than viable request. boeing is down more than 40% year-to-date, john. it cannot get out of this mess it's been in for years. your reaction? >> those workers at boeing are quite bold given the worsening financial condition that boeing, their employer, now faces. and they

john lonski. >> man, the federal budget deficit may matter more to long-term borrowing costs like mortgage yields than fed point. maria: there we go. great to be with you, everybody. "varney & company" picks it up. stu, take it away. stuart: good morning, everyone. the respect new york times-sienna poll released today holds bad news for kamala harris. a dead heat, 48-48, but that means the lead harris held just a couple of weeks ago has disappeared. the number also conceals a big trump advantage in the electoral college. on the campaign trail today, harris goes to texas. the border won't get much attention. her speech will be about abortion. beyonce and willie nelson will entertain the crowd. her campaign comes down to star power, demonizing trump and, yes, abortion. donald trump will also be in texas. he's going to sit down with joe rogan. he has an audience of 15 million, probably much more with trump. on sunday he rallies at new york city's madison square garden. the place sold out in three hours. hillary clinton says trump will reenact the guard requesten rally back in 1939 -- rally ba