pete: here with us is stuart varney host of "varney & co." and american build on box fox business.ely terrifying and projections are even worse if for where we could be headed. would you define stagflation? >> the economy is slowing or contracting but inflation runs strong. so the economy contracts, you still got inflation and you're stagnating, stagflation. let's not put too sugary a coat on this, i think we're going over a cliff. i think we're headed towards recession if we're not already in one, and inflation will stay strong. i have to say, this is on president biden. right from day one, he was the president who abandoned america's energy independence on day one and energy prices went up. that's inflationary. he then spent $1.9 trillion just chucked it into the economy in 2021. that is inflationary. that's 10% of america's economy in cash chucked out there. that's obviously inflationary. everybody's standard of living is falling. wages are up 8% during the biden presidency, inflation up 12%. we're all going backwards and the stock market route has routed your 401k. rachel: i kn

here with reaction stuart varney host of varney and company and american built on fox business. ent carriagely makes a mistake. that's a really big one. >> when the president gets desperate he tends to make factual errors. he is desperate now and is he clearly factually challenged. there are no states in the united states of america where the average price of regular gas is below three bucks. cheapest is texas. now, he makes this -- he makes a big deal about lower gasoline prices other the past six months four or five months. that's his -- he has hung his hat on that controlling inflation. he ignores the last six days when the price of gas has actually gone up as you pointed out the average is now 3.74 per gallon. it's going up and gone up for the last six days. that puts him in a desperate position because how does he explain that? >> steve: yeah. they taught you a long time ago at the london school of economics it's all about supply and demand. supply and demand. if he really wanted the price to go down, he would increase the supply. how do you do that? you drill for more oil b

stuart varney was just on the program with us saying we're about to go off a cliff. it probably is going to get worse so images like that show you how -- remind you how detached washington is from the way you live. rachel: you couldn't have said it better, pete. stuart varney, we asked him and probably should have asked him on air so i'll say it are we in a recession? he said, yes. we are in a recession. i think what adds injury -- makes this even worse, i guess, is the fact that this was done on purpose. this is -- there was completely preventable and stuart pointed it out as well. this was all about the climate agenda. on day one, they declared war on american energy and shut down the pipeline and haven't made new leases and energy costs through the roof. people are already behind on utility payments going into the winter and everyone is poor and it's hurting the middle class, working class and poor even more. it was intentional. they are intentionally making you poorer because they have an ideology, a religion about the climate. will: virginia governor put it into

i'm ashley webster in for stuart varney. the fed raises rates 75 basis points for the third consecutive time. powell says a soft landing will be "very challenging". no kidding. that led to a selloff yesterday afternoon and this morning things at least for now looking a little more calm. the dow, s&p and nasdaq slightly higher. here we go with the treasury yields and the ten year well above 3.5% at 3.57. the two year topping 4.1% earlier, that is the highest in 15 years down 4.06. onto politics now. the economy topping the list of concerns for voters on numerous polls but many democrats are focusing on abortion. will the strategy work in november? we'll get into that story. protests are erupting in russia following putin's call to mobilize more troops and there's been over 1400 antiwar protesters detained in russia, not to mention flights out of there are selling out. the homeless crisis in los angeles is escalating at a rapid pace. a homeless man is caught on camera hurling f feces at a business owner and that owner is here

that's nearly three times the national average. >> ainsley: here to react is stuart varney host of varneybuilt on fox business. what are we going to do? these insurance companies are going to be overwhelmed. >> stuart: overwhelmed a very strong word. put it like this ian is going to severely test an already severely challenged homeowner insurance industry. as you point out right there, the floridians already pay the highest premiums for homeowner insurance in the country. what is it 4200 bucks on average versus national average flormted hit by series of lawsuits and of course bad weather. six insurers left the state. 30 insurance everywheres are already under a watch list from the regulators. along comes this nasty storm ian with enormous damage sure to put even further pressure. they have in florida what's called the citizens property insurance company. that's a last resort insurer. it's got 1 million people insured under that citizens insurance thing. that is a government entity. and they already set aside an extra $2 billion to shore up citizens. now, that might be necessary. so, it's

i'm ashley webster in for stuart varney on this friday p. okay. we now know the august jobs report coming in at 315,000. the unemployment rate ticking up a little to 3.7%. labor participation rate up a hair at 62.4%. let's take a look at reaction from stocks. well, somewhat neutral report, and i think that's given some relief to investors in the premarket. the dow can up 176, the s&p up.6, the nasdaq up half a percent. let's take a look at the yield on the 10-year treasury, always a good barometer. down half a basis point at 3.25%. it really was a goldilocks report, i think, prosecute view of the fed -- from the view of the feoffment now to politics. well, it was certainly a dark and gloomy speech, pull of finger-pointing and divisive. president biden went off on maga republicans accusing them of threatening our democracy. also another claim by the white house, they say it was the president and democrats who reopened schools. they say they had to clean up former president trump's mess. really? can't make it up, can you? it is last weekend of summe

stuart varney. stuart, can you believe that answer? like he was trying to make it sound like a good thing. >> the president is out of touch and i think it's deliberate. he is delusionally ignoring the number one issue for voters in november. that is inflation. you can't fool people. they know they are paying what is it 16% more they feel it. a president who says wait a minute, it's not that bad. i have inflation reduction acts in place that will cut inflation why didn't he say that he knows perfectly well it won't cut inflation. nat gas and electricity prices are going straight up. >> brian: people feeling the utilities. >> it's going to get worse. the moment the weather turns colder and do that pretty soon -- almost said it, didn't i pretty darn soon. well, the moment that happens, your home heating bill goes up. and your electricity bill goes up because na. >> it is in short supply it effects elected et cetera et cetera. >> steve: one figure last week. fuel oil which a lot of people depend on gone up 70%. jaw-dropping. later today th

i'm ashley webster, indeed, in for stuart varney. stocks basically starting the month where we ended august, lots of red. month of september, by the way, historically poor for the markets, so get ready to buckle up. this is what we're looking at, the dow off close to 200 points, the nasdaq down 110. the yield, let's take a look at the yield on the so -- 10-year treasurily. the higher goes, that tells the story. up more than 5 basis points at 324%. as the yield -- 3.24. as the yield starts to climb on the 10-year. overnight the paris buses of migrants arrived in chicago. texas governor greg abbott says chicago has been touting itself as a sanctuary city, so it's time to put their money where their mouth is. officials in chicago not happy. officials calling the whole thing racist. we'll get into that. meanwhile, the white house continues to say migrants are not just walking over the border. really? congressman mark bream just returned from a trip to the southern border, and he's got a warning. the congressman is here to talk about it.

>> the ageless stuart varney, i'm doing fine. stuart: all right.there any safe space, any safe haven in any market at this moment? >> i will tell you what i'm using right now stuart, different from some of ire priors guests. i'm using exchange traded funds, closed end funds, some reits. i'm getting currently, i should say past performance doesn't guarranty future results, as of today more than 10% which beats the inflation rate. using these funds and the other great news about them, all the ones i use pay monthly. every month you get cash. here's cash. of course they can raise or lower the dividends but as of this date, today, all the funds i'm using are paying more than 10%, some in the teens. they all pay monthly. i think, i call it income strategies. i think that's the best strategy you can use in this kind of plummeting market. stuart: i would have to pay you, our viewers would have to pay you a great deal of money to find out exactly which of these closed end funds gives you more than 10%. maybe some of our viewers will be prepared to pay but

third hour of varney starts right now. stuart: look who is here, shannon bream herself.et's get straight at it. am i being too harsh, angry old man? >> that comes across to a lot of people, think about speech on september 1st, that was one night the got a lot of attention and criticism, and the president make those statements over and over again. he continues to use the language, it will be interesting to see what he says today but when you talk to average folks who say if i voted for the past president and questions about the election that doesn't mean political violent extremists. to ask the press secretary, let's define amag republican, and the white house doesn't want to do that. she is speaking for the majority, if that's just a 59-49 split are you telling tens of millions you think they are violent or semi-fascist, who he is talking about. stuart: democrat congressman jeffries claims republicans running scared ahead of the midterms. >> they are running scared. the positions of extreme amag a republicans on the economy, on democracy, on reproductive freedom, on soci

congresswoman stefonic will join us on republican chances, plus stuart varney, will cain and leo terrelllucaddo out with a new faith-based book. kicks off nine minutes and 14 seconds right here on the channel you trust for morning news. ca carley and todd back in a couple. you are watching "fox and friends first." unlike pepcid, which stops working after 9. 24 hour protection. prilosec otc one pill, 24 hours, zero heartburn. >> vulnerable democratic senator mark kelly getting a little tongue-tied when asked this question. >> has he done a good job, do you think? >> hey, you know, first of all, it's not my job to give him a report card. i would say, you know, mixed reviews. >> todd: outkick host tomi lahren joins us now. what's your take on that answer about joe biden given what the vocal clarity we come to expect from joe biden. >> tongue-tied is kind of a theme with this president and it's not just the president himself. it's those that are asked about him that have a d behind their name. listen, he was also asked if he would invite joe biden on the campaign trail with him to which he s

>> so dare i challenge the great stuart varney in. rt: yeah, but you'll never be on the show again. [laughter] >> as my last hoorah here, i'm going right at you. as someone who also vises people with respect for their money for the short, intermediate and long term, we looked a liquidity, longevity. your money should be in a 3-month t-bill where you can get 3% or a 1-year, but if you go out and take money that's earmarked for an intermediate or long-term goal, by definition you're losing 4%. and if inflation comes down to 4% because with it ain't gonna hit 2, you break even. he or she believes at least in a bear market wins, but he or she that has money earmarked for 5-7 years there now, they're going to lose worst. stuart: how do you know we're not back to the 19 is 70s where the market was down and stayed down for a said? >> i don't know that, but i know the backdrop is definitely different. how in it's different in that you have corporate and bank balance sheets whichly literally have never been in as good of shape as they are now.

harris faulkner just returned from the border and will explain how locals are being impacted and stuart varneysident biden dismissing inflation. when sean duffy and tammy bruce have the forecast, they will be here to talk about it and disagree on something. did you hear this, the pandemic is over? yes, no more cotton bowls needed, mow no more vaccines needed, that is what president biden admitted. shocker, will cain gives us deep thoughts when we come back. see you in a matter of moments. put something on. stealth mode? yeah. [cricket sounds] shh! shh! [light switch clicks] don't pta meetings end at nine? -it ran... late. -oh got lost. the lexus rx built for modern families. ♪ ♪ honey, what's guy fieri doing at the neighbor's house? it's sliiiiiiiiii-der sunday! everyone grab a king's hawaiian slider! ...slider sunday? sliiiiiiiiii-der sunday! we've got philly cheesesteak sliders on king's hawaiian slider buns! oh, my. and we got cheeseburger sliders on king's hawaiian pretzel slider buns! sliiiiiiiiii-der sunndayyyyyyyyyyyyy!!! [crash] everything's better between king's hawaiian bread. especi

grandma wrapping, talking about her state, people will go she's not too bad, she has stuart varney going bad, pretty good. i like it. people get sick of the negative. these competitive races every campaign at is ripping the skin off the opponent and here you have this, people like her, i like that. it is positive. lauren: her message is clear. after listening to that i went on her website to see her position and she's crystal clear, gave you a way to remember. stuart: she will win hands down, i think you are right. here's what is coming up on the show, the new york city penthouse featured in the hbo max series succession has been sold and we will tell you for how much. the pandemic is over but our supply-chain has many problems, ships are waiting weeks to unload. we will tell you how some businesses are trying to work around these delays. president zelenskyy vows ukrainian forces will not let up, they are liberating more communities from russian operation. jeff paul on the ground in kiev with the latest for us next. ♪ another busy day? of course - you're a cio in 2022. but you're ready.

i'm ashley webster in for stuart varney.ed raises rates 75 basis points for the third consecutive time. powell says a soft landing will be "very challenging". no kidding. that led to a selloff yesterday afternoon and this morning things at least for now looking a little more calm. the dow, s&p and nasdaq slightly

not true, not states in the united states, stuart varney on the pain americans are feeling at the pumpinger craig morgan is here, his new book talks about struggle he's endured and how faith got him through it all. will cain and leo terrell will join us, don't miss a minute. it starts eight minutes from now on the morning you trust for morning news. todd and carley, you are watching "fox and friends first." . >> we are just six weeks from the midterm elections that will determine which party controls congress. >> carley: crime is a major issue for voters. brook has the latest. >> final stretch before midterm campaigning really ramps up and republicans are hammering down on crime and public safety. citing democrat policies as the reason for our country's crime crisis. the white house tried turning the tables defending their stance on the never ending chaos. but, when asked about the crime surge the biden administration was left flailing, listen. >> does president biden think america's big cities are safe? >> it is not -- it is not a -- it is not a yes or no question. >> jen psaki says t

manhattan, partly cloudy skies in new york city, it is 10:00 houston time, i'm ashley webster in for stuart varney, picking up where we left off the dow down half of 1%. take a look at the 10 year treasury yield that continues to edge higher and higher, 3.567%, a sign of rates going up, oil $84 and $0.63, up nearly 2%. bitcoin has moved moving higher but still $20,000 there it is. 18,655. i heard more impact. the latest rates for mortgages continue to go up. >> reporter: 6.29%, the prior week, a year ago do you even want to know? 2. 88%, that is an astronomical increase and jay powell acknowledged it yesterday people cannot afford homes and he says it is headed for correction. higher rates. ashley: there you have it, tough for the housing market. our next guests those biden's expensive malaise is here to stay, that doesn't sound good, david bossi wrote that piece and joins me now, good morning, what do you mean by that? >> i mean we either have a -- we are going to see hi hi -- interest rates for a long time go up and that is the pain powell was talking about or we are going to see this incredible

covering all the angles, we have piers morgan, farage, karen pierce, douglas murray, stuart varney and legacy ever the queen continues at the top of the hour, you are watching fox news channel. remembers her life of public service. >> griff jenkins is covering it all from washington. griff, good morning. >> yeah, good morning and carley and todd. few figures in history have been revered around the world. her popularity exceeding her institution. we are see nag in the without pouring of condolences here at home flags are flying half-staff. to sign the condolence book afterwards paying respects in recalling his visit last year. >> before i begin, i want to say a few words about queen elizabeth. i just stopped by the british embassy to sign the condolence book in her honor. i had the opportunity to meet her before she passed and she was incredibly gracious and decent woman. the thoughts and prayers of the american people are with the people of the united kingdom and the commonwealth in their grief. >> griff: she met with 13 different u.s. presidents from truman to kennedy to reagan and ca

ashley webster in for stuart varney. look at the green on the screen.og just jobs report not too hot which if it was it would have forced the fed to be more aggressive but the dow up one hundred 39 points, s&p up half of 1%, nasdaq more modest gains. look at the 10 year treasury yields. on the august jobs report the yield coming down 7 basis points, 3.19%. the nasdaq not really taking off today. oil up a little bit, $88.60, what about bitcoin, around the 20,000 mark, up $126, twenty six thousand two hundred twenty three. now this. republican senator rick scott defending republican senate candidates against what he calls treasonous party members. he says, quote, unfortunately many of the people responsible for losing the senate last cycle are trying to stop us from winning the majority this time by trash talking our republican candidates. giving anonymous quotes to help the washington post or new york times to write stories trashing republicans is the same as working with the democratic national committee. that is rick scott from florida. joining us davi

i'm ashley webster in for stuart varney on this friday p. okay.bs report coming in at 315,000. the unemployment rate ticking up a little to 3.7%. labor participation rate up a hair at 62.4%. let's take a look at reaction from stocks. well, somewhat neutral report, and i think that's given some relief to investors in the premarket. the dow can up 176, th

stuart varney in the studio.ry short man coming up next. ♪ ♪ ♪ this... is a glimpse into the no-too-distant future of lincoln. ♪ ♪ it's what sanctuary could look like... feel like... sound like... even smell like. more on that soon. ♪ ♪ the best part? the prequel is pretty sweet too. ♪ ♪ my most important kitchen tool? my brain. so i choose neuriva plus. unlike some others, neuriva plus is a multitasker supporting 6 key indicators of brain health. to help keep me sharp. neuriva: think bigger. trelegy for copd. ♪ birds flyin' high ♪ ♪ you know how i feel ♪ (coughing) ♪ breeze driftin' on by ♪ ♪ you know how i feel ♪ copd may have gotten you here, but you decide what's next. start a new day with trelegy. ♪ ...feelin' good ♪ no once-daily copd medicine has the power to treat copd in as many ways as trelegy. with three medicines in one inhaler, trelegy helps people breathe easier and improves lung function. it also helps prevent future flare-ups. trelegy won't replace a rescue inhaler for sudden breathing problems. t

kind of like stuart varney does in everyday language and let people know what you would do differentit was up kevin mccarthy rolled out last week the queen died. is he going to roll it out this week coming up about what exactly the republicans would do. >> ainsley: speaking of that, king charles iii and the queen consulate attending a service in wales and honoring the life of queen elizabeth. >> brian: london mourners still lined up to pay last respects to the queen who reigned for 70 years. >> steve: amy kellogg is live in london with more. amy? >> hi steve, hi brian, hi ainsley. i really can't get enough of the stories of these people who are standing in the queue. they are patient. they are dignified. they are proud. frankly, think that far too few of them who could be using the special access lane or using it but they are waiting in line for something like 11 hours now. the line is four miles long. we caught up with one particularly emotional woman coming out of the hall this morning. >> so how long did it take you to get through this whole process? >> about 10 hours. sorry, i'm

i'm ashley webster, indeed, in for stuart varney.e markets, so get ready to buckle up. this is what we're looking at, the dow off close to 200 points, the nasdaq down 110. the yield, let's take a look at the yield on the

stuart: richard right this. will there ever be a varney and company dance off? stuart: no. and so are you. lauren: we did dance and you can never see on camera. you haven't been on set in a while. stuart: the only dancing i would like to do which i cannot do is ballroom dancing. you hold your partner and go around with the music. that is graceful and beautiful. if i could do what i would do it. one more. this is from our the. where is the setting for your show of america built? your home? a library? it is an architect's office in new jersey. lots of maps and plans. lauren: are you supposed to be sending? stuart: why not? lauren: you can change it up and it looks different and viewers think you are not in new jersey. stuart: you can watch american bill tuesday starting at 8 p.m. eastern on fox business. we are out of time. anything more to say? no, done. thank you everyone for sending your friday feedback, time for the friday trivia question. lauren: are we allowed to guess? is is stuart: we can look up. the mayflower set sail from plymouth, england on september 16th of whic

stu: i come back from vacation -- >> all revolves around you, stuart varney. stu: oh, thank you, todd, you're a good man. tuesday morning, back to work and school and the market showing a very modest rally. coming up, a guest on msnbc characterizes trump supporters. roll tape. >> we're at war with these people. these folks are evil. they have allowed evil into their house with donald trump, he is now dominated the party, this evil is spreading. stu: tell us how you really feel. are we at war with one another? democrats trying to rewrite history around school closures during the pandemic. karol markowicz fled to get away and she's here and going to set the report regard straight aft- rerecord straight after it. ♪ as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to $500 a year. an

the markets aren't going to say. >> thank you so much, "varney" & company stuart i'm so sorry about theal with it somehow or other. good morning, cheryl. good morning, everyone. i'm going to start with the border crisis. it's coming home to america's sanctuary states and cities and democrats don't like it. california's gavin newsom objects to republican governors sending migrants to chicago, new york, d.c., martha's vineyard and elsewhere and he's asking the judy miller to consider kidnapping charges. liberals are perfectly happy to open the border but talk about a humanitarian crisis when

"varney" & company begins right now stu take it away. stuart: good morning, maria, good morning, everyone. our hearts go out to floridians. they are facing a category 4 storm with 155-mile an hour winds. ian is heading for charlotte county. now that's just south of tampa. it's almost there, on the verge of arriving. governor desantis is warning of catastrophic damage and it will not be over soon. after hitting the coast, ian will tear through central florida and make its way to georgia. we'll track it throughout the show. our own ashley webster is right in the middle of it. there's a storm on wall street too. stock prices all over the place this morning. at one point, the dow was down over 300 points, now it's close to a gain of what, 115 points. that's a huge swing. real volatility today. the bank of england shocked the world just a few hours ago when it completely reversed course. it is now buying bonds. that means it's pushing money into the economy. that is the exact opposite of what our federal reserve is doing. the standout stock of the d

"varney" & company begins right now. stuart: good morning, maria, and good morning, everyone. this is a remarkable day. the funeral of the queen of england. a specatacle like no other. britain and the world remember a great queen, a must confess at times this morning i was choked up, but we're also here to tell you about your money and it's a remarkable day for that too. after big losses last week there's more red ink being spilled all over the place. the problem here is the expectation that the federal reserve will aggressively raise interest rates. they meet this week. the dow looks like going down a couple hundred points at the opening bell. drop today for the s&p as well and look at the nasdaq. it was down over 5% last week. it's going to be down another what's that, about two-thirds of 1% this morning. they are going to be back to about 11, 800. there's another negative here for you. especially for tech stocks. that is bond yields rising. the yield on the 10 year has hit earlier this morning it hit 3.5% the two-year, now closing in on 4%, 3.94 and the one year, still abov

varney and you. tickets are free. you must register online. lauren: how much would you charge? stuartlauren: i did not know about this. i have been pushing for this. stuart: 40 or 50 people in the studio audience. lauren: the audience seats, the bleachers. stuart: it is free, try it, you might like it. something new. the brits are in revolt against high energy prices. a new push to boycott utility bills but don't pay your utility bill. what is the prime minister knowing to do about that? nigel farage will answer that question. apple kicks off its far outfall event. we would like to see a new line of iphones, susan lee has the preview next. ♪ thinkorswim® by td ameritrade is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better. and just might change how you trade—forever. because once you experience thinkorswim® by td ameritrade ♪ there's no

. >> thank you so much, "varney" & company stuart i'm so sorry about the 406 point loss on the dow. stuart: that's okay we'll deal with it somehow or other. good morning, cheryl. good morning, everyone. i'm going to start with the border crisis. it's coming home to america's sanctuary states and cities and democrats don't like it. california's gavin newsom objects to republican governors sending migrants to chicago, new york, d.c., martha's vineyard and elsewhere and he's asking the judy miller to consider kidnapping charges. liberals are perfectly happy to open the border but talk about a humanitarian crisis when migrants arrived on their doorstep. gross hypocrisy. senate leader schumer apparently speaks with a loud voice. he was overheard at a dinner with several other senators. he expects to lose the house. what will speaker pelosi say about that? well, we really should get to the markets, because we are, right now, looks like we're in sell-off mode. the threat of a recession, inflation, and declining earnings, all mounting up to put the dow down about 400 points at the opening b

stuart: followers on spotif gmac, search "varney and company," scan the qr code and you get free musice that. this is from andrew. question for lauren, susan, ashley and stewart, who got you interested in the markets? how would you label your investment philosophy? ronald reagan got me interested in the markets because individual retirement account was introduced in the 1980s, ordinary folks could put money into this thing and put it into stocks, that is where i got started doing it. susan: there was a movie called trading places that was run on network television, i thought that sounds like fun. with a futures in the future? stuart: that is too modern for me. what do you have? lauren: i worked data financial network, very hard-core, money makes the world go round. everything is about money. stuart: sounds like me. rick right to this. stuart heaped praise on the artistry of the band named creed. does he have a favorite song from their repertoire, does it tie to an infallible mary? yes it does. the song i most remember, let me refresh my memory, sunshine of your love, that is tied to a

"varney" & company is about to begin. ♪ stuart: well they are trying to get me up and going this morningith some upbeat music right there as we look at sixth avenue , we are getting ready, yes we are, the fed kicking off its two-day policy meeting today lauren is with me. i understand that the betting this morning is for a 75 basis point hike. lauren: did you check the fed funds futures? they are indicating. stuart: i leave that to you. lauren: 84% chance the fed goes 75, a 16% chance they go 100. did you see the two-year? nine days in a row it continues to creep up towards that 4%. it's up 3 percentage points this year and that has clipped equity valuations, but there hasn't been this complete shock, this complete collapse of the market. it could happen. at what level does that happen if the fed continues to hike? stuart: well that's a fine way to open the show, predicting a crash, or getting close to it? lauren: but at what point does that happen? so far, i thinkequitys have absorbed higher rates. stuart: i'm looking at the one year on the screen right now yielding 4.06. i keep saying

have a great day, "varney" & company begins right now. stu take it away. stuart: good morning, maria, good morning, everyone. here we go again, inflation coming in strong but so far, we've not seen a really strong market reaction. today is producer prices basically, business costs, up 8.7% in the last year. that compares to a 9.8% increase in july. so inflation is slowing. so look, here is the state of play on inflation. we've got 8.3% inflation at the consumer level. it's 8.7% at the producer level. what's the federal reserve going to do about this? they will certainly raise rates but when and by how much, all we've got is speculation. we'll be doing a lot of that. the dow down 1,276 points tuesday that was the seventh biggest point drop ever. this morning no real bounce up what 40 points at the opening bell. the s&p 500 was down 4.3% on tuesday. backup this morning by a mere 10 points that is all of a quarter of 1% and the nasdaq, that was way down yesterday. it's not way up this morning. minor league bounce of 44 points it was interest rate moves that shifted

second hour of "varney" just getting started. ♪. stuart: david avela joins us now.re on the run, they're in retreat. would you call this in any way a win for president biden? >> well certainly it's a win for america in that, and for our allies who are helping ukraine defend itself. so yes it is a win for america which then president biden gets credit for that as he should. the problem is it doesn't counter the negatives that president biden has put on america, whether that be now we're going to countries that don't like us to get our energy supply because he has wanted to stop energy production here in the u.s. or certainly radically change it. whether it be the tax increases and government spending that has made life in america more expensive. while he does get credit for efforts to help ukraine, this is all in the other area that voters give him poor ratings. stuart: i will change the subject here for a second, david. former democrat senator from claire mccaskill, from missouri, the democrats have an age problem. listen to this. >> the democratic party is struggli

"varney" & company begins right now, stu take it away. stuart: all right, good morning, maria, good morning, everyone. here we go again. first day of the week and you want to know itch it's going to be another rough day. at the opening bell it does not look that good. the dow industrials right now looking at about a 70 point loss , nasdaq down what about 10 or no, just 1.5. it was much worse than this earlier in the day. the dow futures had been down 200 now we've recovered somewhat two questions. will the fed keep raising rates aggressively? i don't know. it's all speculation, and are we on the verge of capitulation selling? a really big wash-out? i don't know it's all speculation but the anxiety level on wall street has rarely been higher. so, the dow is going to be down, s&p down, nasdaq down. strangely, bitcoin has bounced a little. you're just back to $19,000 per- coin. as for treasury yields well they are still a big problem. the 10 year yields 3.75%, just as importantly, the two-year now yields around 4.3%, almost 4.25% on the two-year. l

i think they will keep leaving, second hour of varney just getting started. ♪ stuart: fortunately tammyruce is with us this friday morning. you better weigh in on this. >> i have no opinion. i do. i have something. stuart: tammy bruce, state it. >> new york would not be having a crisis if they had decent policies leading up to this, the reason this is overwhelming is so many new yorkers are going. so many other people are in new york who after covid, the mishandling at the absurdity of what they did with shutting down businesses people were working for a living and now living on the street, you have this piling up, one unforced error after another because what government is for is when there's an unexpected crisis they are there to handle the surprise, every homeowner understands, every parent understands you can't be living paycheck to paycheck, this is what the government has forced many americans to do because you want to be prepared if there is an earthquake or some kind of horrible hurricane that you are ready for these things, the government is never ready. they are always behind

third hour of varney just getting started. ♪ stuart: gentlemen on the right-hand side of the screen fromexas, will cane joins us now. who really is in charge? >> i think the answer is the united states is on autopilot. i think there is an administrative state the remains regardless of election cycle, remains somewhat regardless of political party, that really ends up making not conspiratorial man behind the curtain calls but the inertia of existence justification for who knows what number of acronyms and bureaucracies, dhs and these organizations are the autopilot mechanism of the government, the ones, by the way, that were so beside themselves, defensive in power when it was suggested there's a second administration of donald trump he would take not a butcher knife but a surgical knife, cut out some element of the administrative state. i think that is what you see with the doj, the fbi, every organization leading to policies to remain the same no matter which political party is in power. stuart: good point indeed. any moment president biden will address world leaders at the united natio

second hour of varney just getting started. ♪ stuart: brian brandenberg joins me, i'm just getting startedthis is nonsense about the border and about inflation and about energy, got to stop. >> the policy of sending migrants to chicago, dc, martha's vineyard is constructive because this problem is not going to change until congress does something, congress is not going to doing something until blue states feel the pain. if we get people moving on this we've got to use kamala harris's words get in this together and that is happening now. stuart: it is, it is pitting city against city, state against state and state against the feds. >> ever but has got to feel this, the buses are the way more of america and blue america feels. stuart: another one for you. do you want to get into this? lauren: it is political and a lot of a sanctuary city and state, all those officials are saying you are not giving us a heads up. texas and arizona have a heads up? so to el paso alone that is the point so it is political but they need to prove a point. stuart: you are a sanctuary city, give them sanctuary. >>

"varney" & company begins right now stu take it a away. stuart: good morning, maria, good morning, everyone. this is a big day for the republican party. they released their commitment to america, it's the plan to re take the house and the senate. republicans say they will run on kitchen table issues inflation education crime the border and freedom. we'll tell you exactly what it says. and this is a very big day for the markets. central banks around the world are raising rates following jay powell's lead and investors are selling big time. the dow industrial average is only a half percentage point above its june lows and looking at a 400 point decline at the opening bell this morning. it's going to be below, it is below 30,000. the s&p 500 way down on the downside, 52 points lower but look at the nasdaq. that could drop below 11,000. it could, it's down about 150 at the opening bell. now, we've seen some extraordinary movement in treasury yields, straight up. the 10-year now pays you 3.73%. the two-year oh, please look at this , 4.15%. it was much

"varney" & company begins right now. stuart: good morning, maria, and good morning, everyone.e day. the funeral of the queen of england. a specatacle like no other. britain and the world remember a great queen, a must confess at times this morning i was choked up, but we're also here to tell you about your money and it's a remarkable day for that too. after big losses last week there's more red ink being spilled all over the place. the problem here is the expectation that the federal reserve will aggressively raise interest rates. they meet this week.

the second hour of "varney" starts right now. ♪. stuartw this, one pollster warning that republicans will be virtually impossible to poll after biden's recent attacks on maga republicans. governor huckabee joins me. this pollster, people will be afraid to share their opinions openly on politics. similar when people say they were scared to support trump in 2016. do you think there is something to this? >> i think there is a whole lot to it. nobody wants to be at the drive-through at hardee's finding cars of fbi agents grabbing their phone. people are concerned we have a weaponized justice department. they're concerned the social media giants in cahoots with the government are spying on their every move. people don't want to answer questions they don't have to answer. frankly i don't blame anyone a bit. i don't answer questions from some pollster calls me on the phone. no way. first of all they shouldn't have my number. i don't know who they are. i will not voluntarily give any information. i give it to you, stu, i trust you, you're a good g

this is the end of the week and end of a tough month friday september 30, 2022 "varney & company" is about to begin. stuart: as i said the pictures tell the story ian has now been upgraded back to a category one hurricane as we said is heading towards the carolinas. >> is back getting ready for a second major hit on the united states tara lane toward south carolina and expected to make landfall today ahead of the weekend life-threatening storm surges expected after ian left parts of florida as you're looking utterly devastated, president biden describing the damage. >> this could be the deadliest hurricane of fortis history. the numbers are still unclear but were hearing early reports of what may be substantial loss of life and while the water is receding joe go outside unless you absolutely have to it is risky and it impedes first responders from doing their job. >> substantial loss of life, talks weather is reporting 11 people have died so far. it's hard to reach these people especially the ones who stayed. the cleanup will be massive and if you look at all the people they came into florida in recent yea

third hour of varney just coming up. ♪ stuart: relax. kayleigh mcenany is still with us.'t looking at nuclear power like they should and you have a market difference. 25% of california's renewable energy, the problem as you know is 4:00 p.m. hits and there's a strain in the electrical grid, solar power doesn't work well. look at the drought in california, it is woefully inadequate and what happens when their law mandates they are 100% renewable, blackouts and two cities. stuart: planning his future as president of the united states, do you think the governor of california in light of these crises, could that person be elected nationally? >> he could not be elected nationally. i am always hesitant to say never say never but he's taking ads in florida. why would he do that unless he wants to elevate himself by making himself the phone of ron desantis. president biden is there and he wants newsom to kick the ring a little bit. newsom's rise, other than kamala trying to use this back-and-forth to elevate himself. stuart: before we close out, when donald trump went to britain

third hour of "varney" starts right now. ♪ ♪ stuart: miranda devine is with us this morning, thank goodness do you think mario savio would have to say about the state of free speech in america today, miranda? >> look, stuart, i think it's pretty sad. this is something that america bo all other -- above all other countries has safe guarded with its first amendment to the constitution. america has always been the country where free speech has blossomed, and that's in part why it's been such a successful country. but there is really a concerted effort to shut down free speech and to, to basically for the biden administration in particular, to shut down their political opponents, to sic the fbi on to parents at school board meetings and to collude with facebook and twitter and basically big tech to shut down any opponents. for instance, alex berenson, former new york times journalist, got deplatformed by twitter because the white house demanded that he be targeted because they didn't like what he was saying about covid. and he managed to find out that that was the case by suing and finding thes

"varney" & company is about to begin. stuart: she was a model of unity and strength, the world mourns the loss of queen elizabeth. she was 96. 70 years on the throne. my colleague ashley webster joins us. charles will address the people today. when is that going to happen, ashley? ashley: well, he is scheduled to address the nation at a memorial service, stu, at st. paul's cathedral later today, will be at 1:00 p.m. eastern eastern time, 6:00 p.m. in london. before that, we know he will meet with british prime minister liz truss and he's on his way to buckingham palace. he spent the evening at balmoral but queen camila are on their way. earlier today bells rang out in tribute to the queen, windsor castle and churches across the country. as you mentioned, gun salutes of 96 rounds to mark each year of her life have been fired in hyde park, tower of london, k ardif, northern ireland , jersey, gibralter, it is expected charles will be formerly proclaimed king at a share moan it at st. jamie spears' palace tomorrow in front of a cere

"varney" & company begins right now, stu take it away. stuartood morning, maria, good morning, everyone. here we go again. first day of the week and you want to know itch it's going to be another rough day. at the opening bell it does not look that good. the dow industrials right now looking at about a 70 point loss , nasdaq down what about 10 or no, just 1.5. it was much worse than this earlier in the day. the dow futures had been down 200 now we've recovered somewhat two questions. will the fed keep raising rates aggressively? i don't know. it's all speculation, and are we on the verge o

"varney" & company begins right now stu take it away. stuartning, maria, good morning, everyone. our hearts go out to floridians. they are facing a category 4 storm with 155-mile an hour winds. ian is heading for charlotte county. now that's just south of tampa. it's almost there, on the verge of arriving. governor desantis is warning of catastrophic damage and it will not be over soon. after hitting the coast, ian will tear through central florida and make its way to georgia. we'll track it throughout the show. our own ashley webster is right

"varney" & company begins right now, stu take it away. stuartveryone. where do you start? putin mobilizes, biden addresses the u.n., the fed will raise rates, a quarter billion dollar pandemic relief fraud in minneapolis and aaron judge hits homer number 60. i think we better start with vladimir putin because he's rattling his nukes. he says he's not bluffing, and he's ordered partial mobilization of 300,000 reserves i'd call that escalation. what will president biden say about it? he's due to address world leader s at the u.n. in new

covering the fed tomorrow, dagen mcdowell, mark tepper, have a great tuesday, "varney" & company begins right now stu take it away. stuartood morning, everyone. so what's it going to be, a rate hike of 75 basis points or 100 or what? it's all speculation. jay powell reveals all, tomorrow the betting this morning is for a 75 basis point hike. got that. now, in advance of the official number, interest rates are ris ing. treasury yields are up look at this , the yield on the 10-year treasury has moved well-above 3.5% and the two-year that is getting really really close to the 4% level. that's not helping stocks. the dow this morning look at futures.

have a great day, "varney" & company begins right now. stu take it away. stuart inflation coming in strong but so far, we've not seen a really strong market reaction. today is producer prices basically, business costs, up 8.7% in the last year. that compares to a 9.8% increase in july. so inflation is slowing. so look, here is the state of play on inflation. we've got 8.3% inflation at the consumer level. it's 8.7% at the producer level. what's the federal reserve going to do about this? they will certainly raise rates