Transcripts For FBC Varney Company 20240712

Help, food aid. Yes, they are still talking. Investors like the idea of many more trillions poured into the economy, but it aint a done deal yet. The political world really cant stop talking about the debate. The president says he won. He, quote, held joe accountable, thats what the president says. Biden says the debate was a national disgrace. The Electoral Commission seems to agree. I they run the debates, and theyre looking at new rules. They agree, they seem to believe and blame the president for the interruptions and insults. Theyre even considering a kill button for the moderator to cut the mic of any offending candidates. The numbers are in. Far fewer people watched than i expected, just 73 million tuned in. Down from 84 million who watched the first debate in 2016. And if you look inside the numbers, the audience dropped away as the chaotic debate kept going. They tuned out. Stay with us for the next three hours, i promise it will be worth it. Varney company is about to begin. Stuart all right. Now, were going to start with breaking Economic News. Doesnt e appear to have i affected the markets that much. Susan, we got a stream of numbers. Were look at a stalling out in terms of job growth. Jobless claims came in lower than anticipated for the week, 837,000. Claims, i thought, was a bright spot, now below 12 million, and these are the longterm unemployed, those who have been claiming Unemployment Benefits for weeks, 11. 7 million. Stuart thats a good mark. What about layoffs . Were also look at a stall pattern in layoffs as well, but i wonder about personal consumption since we saw its actually up since we know the consumer drives about 70 of the u. S. Economy, so better than anticipated in the month of august, up 1 , ands this is month if on month. Stuart okay, thats good. I picked out one nugget in all of these numbers yeah. Stuart the savings rate, 14 . I got that out of the income and consumption yeah, the personal consumption expenditure, thats the line we usually look at and also something the Federal Reserve looks at closely as well. I actually saw yearoveryear it looks like theres a lot of pentup consumer demand. Theyre spending 3. 6 1. 6 which is higher than a year ago a. Stuart that is astronomical, 14 savings, except during the pandemic when people are getting all this money in and not spending it. The dows going to be up not on that news, but its going to be up today. All right. I want to bring in market watcher ed car denny. Ed, youve been looking at the numbers. You say we still have a strong vshaped recovery. Right. Stuart let me go further than that. Does that mean were going to see new stock market highs . I think we might. Ive been rooting for the market just to consolidate for a while which is, i guess, what its been doing since Early September. But the news on the economy continues to be quite good, and the market is responding proportionally to the Economic News rather than to all the political chaos. Stuart well, Goldman Sachs is saying the best thing for the stock the market, at least the s p, would be a divided government. I guess that means a biden presidency, a republican senate. What do you say about that . Well, the market doesnt like gridlock. I guess when we studies civics many years ago, it was called checks and balances, and i think the market does have a penchant for gridlock. I dont think the market would do too well if theres a sweep and the democrats get both houses of congress. That would, obviously, not be gridlock. So if biden wins, i think the market can live with that. If trump wins and we continue to have gridlock, the market, i think, would be happy with that. Stuart but to repeat, if it was a clean sweep for the democrats, they get the presidency, the senate and the house, i cant see how that could be good news for investors. Well, i think it would certainly lead to some sort of selloff. Shouldnt use the word certainly when it comes to the market. Look at how the market has been rallying the past couple days despite the bad reviews about the debate. But i think looking ahead here the market is going to focus on the Economic News, and even if we get a clean sweep by the democrats, i dont think were going to get a recession next year. I think its going to take them a while before they do a lot of damage in terms of raising taxes, corporations, individuals, Green New Deals and the like. But, look, i think the market, you know, has lived with democrats and republicans, and i think even if you get a clean sweep, i think the markets going to figure out whos going to benefit from that. Companies benefit from Infrastructure Spending should do pretty well in a biden clean sweep scenario. Stuart im going to keep in my brain that sound bite from you from moments ago. Itll take em a while to see how much damage they can do. Ill always remember that one, ed, and thank you very much for delivering it this thursday morning. Thank you. Stuart youre welcome. Thanks very much. Next case, lets have a look at pal palantir and asana. Theyre about to begin their second trading day. How did the first one go . I thought it went decently because both were up around 30 from their reference prices. Palantir worth about 22 billion. Some technical glitches with its underwriter Morgan Stanleys software, and that wasnt fully resolved until the final half hour of trade in the session, so there were some palantir stock investors or that were, i guess, ramping up the selloff in the last 30 minutes of traigd, about the only time they could, but the stock price is down over the opening price of 10 for palantir, 9. 50 was the closing price. That was a bit concerning because that was lower e than what they were selling their stock back in funding rounds in 2015. As for asana, if we could bring that up again, i thought it was pretty good, you know . You had a reference rate of 21, opened up at 29. Stuart i was expecting palantir to just take off and do really, really well and just go straight up like some of the other yeah. Well, on average, 22 gains. Stuart they didnt get it. Well, yeah, 30 up from reference rate. Stuart not bad. Theyre not a good guide. Stuart were used to a whole lot m arent we . All right. President ial Debate Commission, theyre going to make some changes after tuesdays debate chaos, lets call it that. Lauren, what are the proposed new rules . Oh, good question, stuart. So i can tell you this, it comes from the commission on president ial debates, and i quote the debate made clear that additional structure should be added to the format of the remaining debates to insure a more orderly discussion of the issues. That could include allowing the moderator or someone backstage to mute or cut off trump or bidens mic when they interrupt. But, look, even Chris Wallace said a kill switch wont stop them from stepping on each other. It would just stop you from hearing what theyre saying. That is still an option. The next debate is october 15th in miami. Its going to have a dozen or so undecided voters asking questions. Could that change the temperament of the debaters . Will they be so unhinged talking to regular voter who are i trying to make up their minds who to vote for . Because if you were undecided on tuesday night, you were still undecided wednesday morning. Stuart thats true. I just cant see giving all that power to a moderator. Wait a second, before we go on, tell me about the numbers, the tv ratings. I know weve got them, what are they . You were wrong, stuart, im very sorry, but viewership did drop by 13 . 73. 1 Million People watching, that was down from the record 84 million which was back in 2016 when trump debated Hillary Clinton at that first debate. However, and i do think this is important, these nielsen numbers dont include those who streamed or watched online, and especially with the pandemic, thats a lot of people. Stuart yeah. That could have boosted the overall number. But i look inside the numbers, and you can break tv ratings numbers down quarter to quarter to quarter. Six quarters in a 90minute projection, the numbers went down with each quarter. Fox numbers started off at 17 million the First Quarter hour, ended up at just under 11 million. People just deserted. They walked away from it. Yeah. A Kindergarten Teacher would have been needed to moderate that debate because thats finish the reaction that it required is what i tell my 5yearold, dont call someone stupid, stop interrupting, let him finish. It was a brawl. Stuart yeah, it was. New rules are required, im just not sure about a kill button. All right, lauren, lets move on. Still got that rally, looking at the premarket action, up about 150 for the dow. Look at that, about 140 up for the nasdaq. Thats a rally. Remember when joe biden said this about the Green New Deal during the debate . Roll tape. No, i dont support the Green New Deal oh, you dont . Oh, thats a big statement. You just lost the radical left. I support the biden plan that i put forward. Stuart all right. Lets have a look at his own web site where it says he does support the Green New Deal. That kind of looks like a flipflop to me. Well discuss. Indoor dining returns to new york city but only at 25 capacity. And, look, with the weather turning cold, they wont do much by outside, will they . I dont see how businesses survive. Ed renzi here on that next. Thats what my dad does. Good job, michael ok, lindsey now tell the class what your mommy does. My mom has super powers. Its like she can see the future. What . its like she time travels in a rocket ship. Thats cool and then she comes back saying try this or try that. She helps everyone. She helps them feel less worried. Wow mommy, so what is it that you do . Im a financial advisor. She is aig proudly supports all the professionals taking care of our Financial Futures. Thats it. Im calling kohler about their walkin bath. [ sigh ] not gonna happen. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] hmm. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lower than some leading competitors. The bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. Kohler is an expert in bathing, so you can count on a deep soaking experience. Are you seeing this . The kohler walkin bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. Everything is installed in as little as a day by a kohlercertified installer. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of mind. Ask about saving up to 1,500 on your installation. Virtual appointments now available. Stuart i see green, lots of it. Up 150 for the dow, up 147 for the nasdaq. That glean, thats a rally. All right. It was a rotten september, i think we can all agree on that, but today is october the 1st, so where are we going in october . Thats right. New month, new quarter. And despite the worst september in almost a decade for the s p 500, still the best six month performance for the Broader Market since 2009, the financial crisis. So taking a bit of a breather. September tends to be the weakest month of the year for stock markets going all the way back to 1950. October usually the second worse, so we have average losses in october just below 1 according to lpl research. Now, data does suggest when you have an ugly september, you could get a performance the month after. 70 of the time if you judge the pattern from the past ten periods using dow jones data. That happened in 2011. But you have some distortions when it comes to election years when things sell off through october, i awaiting the november vote. And you may get some late into the year end with the traditional santa claus rally, so well see which side that it goes towards. Stuart i remember world war ii and the aftermath. I remember food rationing. I remember to bombedout buildings in my hometown in england. I was a milk deliverer back in the day. That was my teenage job. How much did you get paid . I made 8 pounds a week which was the equivalent9 of about 15 at the time. A week . Stuart yes. I was in poverty. Oh, wow. Stuart nice digressioning there, susanful were done. Indoor dining has returned to new york city but only at 25 capacity. Former mcdonalds chief ed renzi is with us. All right, ed. Its chilly outside. Outdoor dining doesnt mistake it. Youre not going to be make it. Youre not going to be doing much outside, and i say you cant survive. What do you saysome. You can not survive. I estimate somewhere around 2530 of all restaurants are going to go bankrupt if this goes on very much longer. Your costs continue. Your rent continues, your utilities continue, you try to take care of your employees, your food costs. Those costs stay the same. With 25 capacity youre saying youre limiting your volume to 25 of precovid, you cant make money doing that when your occupancy costs are 30 of sales, it just wont work. And the landlords are suffering because a theyre not getting the rent they deserve or are contracted for. Businesses will likely shut down in some cases, but they cant because they have Continuous Operation clauses in their leases. It is a fiasco, and de blasio doesnt understand these restaurants, they cant live without people. Tell em what the goals are. Tell em to social distance, wear masks, wash your hands, sanitize, but let the restauranteur decide how hes going to set up his seating. 25 of 1,000 seats is one thing, 25 of 10 seats is something else. These people are so ignorant of what we need. Cuomo is absolutely right, the cure cant be worse than the disease. Stuart its more than just money, economics. This is culture. The restaurant culture. You go to a restaurant to socialize. You want to be in the company not just at your tabling, but you want to be where stuffs happening. Weve got these capacity limits and all these ore restrictions on you other restrictions on you. It aint the same, is it . Youre absolutely right. People dont eat because theyre hungry, we eat to get together. My wife and i went out to dinner last night to a really nice steakhouse, the first time in three months. I was exhilarated to be out and about and seeing friends and saying hello. Its all about socialization. And ill tell you, it plays on the mind. Psychologically its dangerous. Stuart yeah. Ive got another one for you with. Look at the trash thats piling up in big i cities and especially new york city. Im going to show you a video from a bakery owner in the city. Listen to what shes got to say about the trash. Watch this. This is what we have to contend with. This is the lower east side. Its not bad enough that you have to figure out go ahead you have to figure out how to make your rent, how to pay your staff, how to keep it going, but youve got to contend with this [bleep] when you come in. Stuart that lady sounds like shes at the end of the line. Well, she you can tell shes highly stressed, and i understand why. My goodness gracious, shes worked hard all her life to build a business, and the city doesnt help her in any way, shape or form. In fact, its the an obstacle. How can you not provide basic services to the citizens of new york . Its criminal. Stuart last one. I think its the white table cloth restaurants that are going to suffer the most. What say you . Yeah, i agree with that, because ive been in the Quick Service Restaurant Industry most of my life, but ive done some fine dining, and i can tell you, you have the option of delivery and you have the option of drivethroughs and things like that, but the fine dining folks are all about socialization, entertainment and a really great, wonderful, uplifting experience. Boy, if you cant do that, fine dinings going to suffer terribly. Stuart ed renzi, always a pleasure. Come back soon, please. Thanks very much. Good stuff. All right. Airlines, thousands of workers face layoffs. Government help is i think its now actually expired. However, talks about new help are still going on. In the meantime, 32,000 job cuts being announced after washington stalled on a new round of stimulus for the entire industry after they received around 25 billion earlier on. American, united say they will bring back these workers, at least a portion of them, if a new deal is reached. United cutting nearly 3,500 13,500, american cutting 19,000, so that adds to a really tough 24 hours of job cuts. Think about the 28,000 from disney, 9,000 from shell, allstate cutting 3,800, and continental cutting 30,000 jobs around the world. And Goldman Sachs reportedly also shedding backing jobs, 400 of them, and that add adds to the 70,000 global banker job cuts we have seen so far this year. This is a long list, and it shows if we dont get extra money from d. C. , there might be some permanent damage to american lives and the american economy. Stuart and not all of those jobs would come back. Shell oil, for heaven sake. End help is needed badly. Stuart a look at the markets, were going up. Weve cut the gains a little bit. We now show a gain of, what, 10 for the dow 130 for the dow. About an hour ago we were up 200. The nasdaq is a standout, that means big techs doing well, thats for sure. Were up 140 on the nasdaq. As we usually do, were going to take a look at the empty times square on a chilly thursday now, that is empty. Well be back. I have an idea for a trade. Oh yeah, you going to place it . Not until im sure. Why dont you call Td Ameritrade for a strategy gut check . Whats that . You run it by an expert, you talk about the risk and potential profit and loss. Couldve used that before i hired my interior decorator. Voila maybe a couple throw pillows would help. Get a strategy gut check from our trade desk. Keeping your oysters growing while keeping your business growing has you swamped. you need to hire i need indeed indeed you do. The moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base so you can start hiring right away. Claim your seventyfivedollar credit when you post your first job at indeed. Com promo stuart weve still got a rally in progress, but the scope has been cut a little bit. The dow is going to be up about 120. All right. Greg smith is back with us, evolution bc partners. A golden age of public Venture Capital. Are you saying these new industries, new companies that are coming to market for the first time, is that the golden age youre talking about . Hey, good morning, stuart, and happy october. Look, i think with the proliferation of spacs here this year with more than 43 billion in cash sitting on the sidelines in these vehicles all hunting for act but by decision targets, the world and the markets are about to hear a lot of incredible stories. Im coining this were entering the golden age of public Venture Capital because i think with all these spacs, main street is going to be able to have a chance to buy into a lot of these incredible venturebacked companies. Stuart yeah, because a spac just accumulates money for the issuing company, and youre saying that can be used to accumulate even more money and other companies in the future. I take the point, gregg. And you look towards futuristic kind of companies. You call them Frontier Companies. In particular, youre looking at Virgin Galactic and spasx. Tell me spacex. Tell me more. Yeah, look, i think the next big thing are going to be frontier investments, so most notable are spacex, which people are familiar with, Virgin Galactic became public through a spac. Ive invested in a half a dozen up and coming, inedible frontier incredible Frontier Companies between 3d printing and rockets. They believe everything that flies will be 3d printed in the next 20 years. They can actually print a rocket with their metal 3d printers in 60 days using only 1,000 parts versus other rocket makers which might take 18 months and 100,000 the parts to make a rocket. Another of my favorites is archer transportation, flying taxis, Morgan Stanley calls this a 1. 5 trillion market stuart yeah. I have laughed in the past at flying taxis, but im not laughing at the idea of an i enormous amount of public money flowing into new companies and new the industries and promoting the future, and i think youre dead right. Thats exactly what were seeing. I think its a terrific trend. Gregg, thanks for sharing it with me. Thank you, sir. Thank you, stuart. Stuart 30 seconds before this market opens this thursday morning. We are still expecting a pretty good rally, nothing huge. Yesterday was pretty good. Todays going to be pretty good as well. One of the guiding, one of the big positives here, i think, is theyre still talking about a better than 1 trillion stimulus plan. Still talking. Mnuchin, Speaker Pelosi, theyre still talking still very far apart. Stuart yep. And the sticking issue might be the 250 billion that they want to give to state and local governments. I dont think mnuchin wants it, but i think pelosi demands it. Sea of green, lefthand side of your screen. A lot of stocks going up among the dow 30, and weve got the dow right from the start getting real close now to the 28,000 level again. The dow is up about twothirds of 1 . The s p 500 also on the upside to the tune of threequarter withs of 1 , 25point gain. Show me the nasdaq. This points the way to technology. Not bad, up 1. 1 . 11,291. Finish up 124 points right from the start on a thursday morning. Yesterday big new enentrant palantir and asana. Palantirs up a bit this morning, about 3 , but asana has come down 7 . Thats the progress that youve got on these two new Companies Going to market. Youre pulling a face there, susan. Yeah, its disa appointing. For day two not to hold that momentum stuart asana in. Yeah, its a bit disappointing. Stuart big tech on your screen doing very well this morning. Apple, amazon, google, facebook, Microsoft Microsoft is up 3, 213. Now then, some investors use september to buy these socalled value stocks. Give me more. Well, ill explain what the value is just for our watchers that dont understand what it is. Cheaper than what they are actually wouldnt. Usually the underperformers on the year so far. So that might represent more upside for investors. Specific stocks, check in on fedex. Building supplier or martin marietta. Boeing is up big today, up in a green market. Some buy calls, the 737 max getting closer to being back in the skies. Compare that to the losses that we saw for the broader s p 500, also the high flying tech stocks, you had amazon, apple, tesla, facebook, microsoft, google all falling 815 , profit taking for a lot of investors that made a lot of money in the these names. This is an example of rotation. The Fund Managers are making the valuations for some of these megacaps, best performing stocks on the year. Meaning there might not be that much more to go for the stock price and earnings. Stuart if you can time it right, you do well. Look at me, im the guy who bought boeing at 330, sold out at 160, now the thing has bounced back to 170. [laughter] i dont get the timing right, do i . Well, you had microsoft as well stuart yeah, but i got back in. Okay, lets move on. [laughter] the cdc is oh, listen to this extending its no sail order to the cruise lines until when, lauren . Halloween. So you cannot take a cruise until after october 31st. But the cdc director wanted to extend it even further. He wanted to go until february of 2021. Robert redfield was overruled by the white house. Theyve been at odds, the two of them, for months. Some in the Administration Believe redfield is being overly cautious, therefore, thwarting the economic recovery. But Public Health Officials Say the white house is politically motivated. They dont want to upset the cruise industry because where is that located . In the swing state of florida. So october 31st matches the date that the cruise industry themselves said should be the end of the no sail order, and halloween is also, what, three days before the election. Stuart yes. Lets not forget the that. All right, lauren, thanks. Starbucks raising its dividend. Okay. The stock is up. How much is the dividend hike, ash . I can tell you right away stu. The board of starbucks approved a 10 percent dividend hike from 41 cents to 45 cents a share. That will boost the companys annual dividend rates to 1. 80 a share. Now, the company says it demonstrates confidence in the strength of the recovery from the pandemic adding that cash flow remains strong for the company. Starbucks started paying a dividend about ten years ago, 2010, and it has increased for the past decade. This latest increase will be paid on november the 27th. The shareholders of record on november the 12th. With by the way, starbucks just got an upgrade to outperform, but the stock down 2 year to date although its coming back now here on october the 1st, about half a percent for the year. Stuart okay. Ive got another one for you, ash, stay right there. Yeah . Stuart we ate a lot of junk food, we are told, during the pandemic. Apparently, pepsico is benefiting. What is this benefit because of junk food . Well, yes. We did eat a lot of ill say we, i, everyone did eat a lot of snackings. Thats for sure. Pepsicos free toe lay division in north america that sell products such as doritos and lays and others, sales were up 7 in the Third Quarter. In fact, snacks have done well during the pandemic. Hey, guys, can you hear me . Stuart yes, im sorry. It was me in the background, ash. Im sorry, its me. Can you hear me . Thats okay. Stuart its just i became addicted to doritos during the lockdown. Oh. Stuart a fair amount of snacks here at fox, and i take a couple of bags home with me. Maybe thats cheating. Okay, just a couple, thats all. [laughter] i chow down on the spicy doritos. I love it. Im sorry, i interrupted, ash. Keep going. No, thats fine, thats fine. The pepsi sodas, though, have been hit hard. Why . Because of the closure of offices and restaurants. But that has changed. E pepsi says revenue for the Beverage Division actually gained 6 in the last three months showing, it says, that the consumer has become more mobile with sales up at gas stations and convenience stores. By the way, pepsi also gave a forecast for the remainder of the year saying it expects Revenue Growth of 4 which is pretty much in line. But the earnings forecast has come down just a little bit, but the stock essentially flat today. Stuart okay. The message is im hooked on doritos, but i never, ever drink any kind of soda, just dont like it. Again, im interrupting you because, ash, you got another story here about yes . Stuart an irish court says subways bread cannot be called bread. Tell me more. I know. It sounds like the beginning of a joke, doesnt it . Stuart yes. Turns out that Subway Sandwiches are too sweet to meet the definition of bread, at least in ireland. The Irish Supreme Court ruled that the breads sugar to flour content is five times too high to qualify as an essential staple food item. That means the sandwiches just dont qualify with for a tax break under their rules. Irish rules stipulate that the weight of sugar and fat in the bread product must not be more than 2 percent of the total weight of the flour in the dough. Guess what . Subway sandwiches come in around 10 . In fact, all six of the companys bread options were too sugary, and consider this, a 6inch white bread roll has 5 grams of sugar. Of thats about the same as an oreo cookie. Wow. Stuart okay. Theyre still one of the best bargains in sandwiches. I used to like their foot long 5 deal. I mean, im hooked on these things. Susan, have you ever had a Subway Sandwich in your life . I have. Stuart okay. They were tasty. [laughter] what about the meatball sandwich . Stuart yeah, thats filling, shall we we say. All right, moving on, were having too much fun. Look at this. This is a rally, sports fans. Youre back above 28,000 on the dow, well take it. Wheres the 10year treasury yield this morning, he asks . Up. 71 . Wheres the price of gold . Anywhere near 1900 an ounce . Yes, 1911 is your price. Bitcoin, where is it . Havent checked that in a while. Okay, i dont know where that get rid of that, please. [laughter] do we have bitcoin . No, we dont. So how about the price of oil . We got that . I think its no, we dont yes, we do. 399 a barrel. Below 40. Stuart 39 is below 40, thats right. Bet Founder Robert johnson, some pretty sharpedged words after watching tuesdays debate. Watch this. I absolutely do not know what Vice President biden will do. Where i come out as a businessman, i will take the devil i know over the devil i dont know anytime of the week. Stuart now, thats fascinating. I think hes right, actually. Biden has very little appeal to a selfmade business person like Robert Johnson. Ill get into that more in my talk in the next hour. Playboy looking to go public again with a new image. Details coming up up. Flexshares are carefully constructed. To go beyond ordinary etfs. And strengthen client confidence in you. Before investing consider the Funds Investment objectives, risks, charges and expenses. Go to flexshares. Com for a prospectus containing this information. Read it carefully. Look, this isnt my first rodeo and let me tell you something, i wouldnt be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. Its just a loan designed for older homeowners, and, its helped over a million americans. A reverse Mortgage Loan isnt some kind of trick to take your home. Its a loan, like any other. Big difference is how you pay it back. 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Look, reverse mortgages arent for everyone but i think ive been round long enough to know whats what. Im proud to be part of aag, i trust em, i think you can too. Trust aag for the best reverse mortgage solutions. Call now so you can. Retire better stuart well, well, well, look at that. Bed bath and beyond is up 23 . Susan, why . Stellar earning. They Just Announced that samestore sales, meaning that foot traffic, increased for the first time in four years, and online sales a blowout as well, surging 80 in the quarter. And that means they also have brought in some newer customers. 2 million new customers during that period, many of them younger and spending more money per trip. So this is a good recovery story. Some people thought that bed bath and beyond was part of that retail ice age. Stuart yeah. Wed kind of written them off. Thats quite a rally today. The senate set to authorize subpoenas today for some of the biggest names in technology. Yeah. Stuart does that mean theyre going to be doing the person walk on well, look, its only on the social media giants, think of the facebooks, twitter and google, Mark Zuckerberg and jack dorsey. So theyre considering whether or not to subpoena these ceos to testify when it comes to possibly repealing section 230 of the Communications Act that basically shields these social Media Companies from being liable for what their users poassments this is part of the executive order of President Trump, you heard attorney general bill barr mention this as well. But theyre not free even if the democrats win the election in november because the democrats have also said they will revisit this portion of the communicationings act from 1996 stuart doesnt seem to care very much, look at facebook, up 5, 2 today. All right. Next, were going to deal with tesla. Third quarter deliveries may set records. Well, we are anticipating a release of Third Quarter delivery numbers today or tomorrow for the Third Quarter. I think its pretty much been priced in that we are expecting Record Numbers. How i high will they be. We have analysts on average predicting 140,000 deliveries. Thatll be the highest number of car shipments for tesla going back to the last three months of 2019 when they shipped 112,000 cars. The First Quarter and Second Quarter, on average, they shipped 90,000. So even if they do ship 140,000, were still far short of that 500,000 car delivery pledge that elon musk made for this year. Stuart just another expectations if they hit 140,000 deliveries yeah. Stuart the stock goes up. And if they dont hit 140,000 deliveries, the stock goes down. Pretty roughly thats it . Correct. The guidance for the last three months of this year if you get to 500,000, i tell you, that stock will rally, and its already are up 400 this year. Stuart yes, it is. Thats an extraordinary game for a company like tesla. Yes. Stuart all right. Nikola is sticking with its strategy even though the founder and i think he was the chair, actually . Founder and executive chairman, Trevor Milton. Stuart what is the strategiesome. To bring cellfueled trucks and cars to the market. Again, clean energy. The companys still in negotiations with General Motors over this 2 billion, 11 stake that General Motors bought into nikola just a few weeks agoing, and then all these accusations came out which brought down the stock, and Trevor Milton had to end step away from the company with Sexual Assault allegations also in the last few weeks from two women. Nikola says it remains committed, first of all, to getting through this gm deal because it was set to close on wednesday. Even though gm said they did their Due Diligence in looking at the company, which i found surprising, but they remain committed to bringing the pickup truck, their mass market pickup truck, the badger. Stuart i hear that word high yo den fuel, that is a big turnon very long term because theres no pollution. But youre miles away from it. This is another one. What is this, your show or something . Google is out with some new technology. What is it . Dont you like sue and stu . Doesnt that sound better . Stu and sue might be okay [laughter] fragile male egos. Lets talk abouting google. Yes, google tv is back, it looks very familiar. This time around its back with this sleek new controller that actually has this scroll button you can do with your fingers, and this is buzzing in the technology world, also new speakers for the home, 5g pixel smartphones as well, and google tends to price their devices and their hardware more affordably because hardware is isnt a huge part of their sales, a tiny percentage compared to, say, youtube and online advertising. Hardware is more of a way for them to keep customers loyal to youtube and android. So the 5g phones starting at just 6939. Compare 699. Compare that to the fourfigure sums for the apple or samsung phones. Cheaper thanker say, apples home pod which is above the 100 range. This should be available the middle of this month. And im looking at google tv and the launch event, and it looks fairly similar to apple tv which you only just learned recently, right . Stuart i did, yes. My daughter came over the other day and showed me how to switch it on. Wait, this is no longer your story. Were going to bring ashley in. News on nfl. What have you got, ash . I hate to interrupt. The nfl has announced that the game between the titans and steelers will now be played sometime later in the season. The game postponed, it was scheduled for noon on this sunday in tennessee, in nashville. But as you know, four Tennessee Titans players have now tested positive for covid19 as well as five other Staff Members in the team, you know, overall in the organization. But we dont know when that game will be replaid. There was talk about it being postponed until monday. Im not sure what difference that would have made, but now its up in the air. Well find out later when it will be rescheduled for. Stuart got it, ash. Thanks very much. How about the mall of america . Donating retail space to local Small Businesses hit by urban unrest. Were going to show you their new community commons. Weve got a live report from the mall of america coming up for you. And lets be clear, urn President Trump the income under President Trump the income and wealth gap has been closing, and our society has enjoyed the benefits of trumpian prosperity. Thats something you wont hear from the left. You wont see it in the media either. Im going to explain it in my take. That will be at the top of the 11 00 hour. Stuart the largest mall in america is lending a hand to businesses hit by the riots. Our Grady Trimble is at at the mall of america. Its in minnesota, hes there. How are they helpingsome. Reporter stuart, this is called the community commons. Its the newest shop here. In fact, it hasnt even opened yet, it opens in about an hour, and they have donated this unoccupied retail space to 16 businesses, small local businesses that have been impacted by the violence following the death of george floyd as well as the pandemic. One of those Business Owners is joy sanders. Her business is called urban 29, and tell me what happened to your storefront back in may. Back in may by storefront was destroyed in the riots. It was looted and set on fire. Reporter so you lost all of your inventory, and you lost the building that you were in. Yes. I lost everything. Reporter at that point what was going through your head . Did you think you would be able to rebuild . At that point i wasnt sure. I was kind of still in the moment of the shock and awe of losing everything, so unit really know what was to come. Reporter and now you have this Second Chance, an amazing opportunity for you to rebuild your brand and your business. What does this mean to you . This means a lot. Its a really great opportunity. Im happy for urban 29, and im happy for the other businesses as well. Reporter in a way this is a dream come true for you, right . Because your goal was to be in the biggest mall in the country. Yeah, isnt it awesome . [laughter] reporter and now you get to be here without having to pay rent for the time being, which is fantastic to help you get back on your feet. We really wish you the best of luck, joy. And, stuart, all of the businesses will be able to use this spas at least until space at least until spring of next year. It could be a blueprint for other mall spaces that are unoccupied. Stuart all right. Grady, thanks very much, indeed. You know, were just Getting Started this thursday morning. Still to come, let me tell you weve got kiron skinner, steve to do city, pete hegseth and, yes, kennedy. And weve got this too, bet founder and selfmade business guy Robert Johnson. He says hes not endorsing President Trump, but he says, quote i would take the devil i know over the devil i dont know. The devil he knows is trump, the cefl he doesnt know is biden. More on that coming up next in my take. Some Companies Still have hr stuck between employees and their data. Entering data. Changing data. 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Now, lets take a look a humanas Medicare Advantage plans. With a humana medicare plan, hospital stays, Doctor Office visits, and medicare deductibles are covered. And, of course, most humana Medicare Advantage plans include Prescription Drug coverage. In fact, in 2019, humana Medicare Advantage Prescription Drug plan members saved and estimated 7,800 dollars on average on their prescription costs. Most humana Medicare Advantage plans include a Silver Sneakers Fitness Program at no extra cost. Dental and vision coverage is now included with most humana Medicare Advantage plans, and you get telehealth coverage with a zero dollar copay. You get all this for as low as a zero dollar monthly plan premium in many areas, and your doctor and hospital may already be a part of humanas large network. If you want the facts, call right now for the free decision guide from humana. There is no obligation, so call the number on your screen right now to see if your doctor is in our network, to find out if you can save on your prescriptions, and to get our free decision guide. Humana a more human way to healthcare. Stuart Robert Johnson is americas first africanamerican billionaire. He made his money as the founder of b. E. T. That is Black Entertainment Television which he sold to viacom almost 20 years ago. Born in mississippi, he is the ninth of 10 children. He is a selfmade man. He is no fan of joe biden. Anything but. When asked about trump and biden he said, better the devil i know over the devil i dont know. The devil he knows is trump. The devil he doesnt know is biden. This black billionaire prefers trump. Then he really slammed biden. As a businessman he says i havent heard anything cohern from him. You dont hear Something Like that often from celebrities in business. He is not endorsing trump. He didnt say he would vote for trump either. It is very clear trump has little appeal to selfmade business people. When is attraction of a huge tax increase on business . That is bidens action plan is. What is the advantage of massive tax increases like wealthy job creators Robert Johnson. That is Vice President biden plan. And we havent seen started with the deadening effects of bidens green regulations. Joe biden is antibusiness and has no clue how to generate growth and jobs. What a pleasure to hear a selfmade black man speak truth to socialist power. The second hour of Varney Company is about to begin. Stuart all right. Were kicking off a new quarter, a new month today. We have a pretty good rally. Lost a lot of steam in the dow. We lost 62 points. Nasdaq is up 100 points. Jobless claims edged lower, 837,000. That is down 36,000 from of the week before. Stimulus negotiations are still going own. Theyre talking about a 1. 6 trillion plan which includes money for state an local governments. That is the sticking point. Rent, food subsidies, 400 bucks a week of unemployment checks. Theyre still talking about all of that. The market wants them to deliver the money. We have the latest read on manufacturing as well. What do we have a susan . Susan a sign we may have a stalling out in the u. S. Recovery. Month of september, ism manufacturing coming in a little lower than anticipated. 55. 4 is the read in september. This is Real Time Data were using and this is less than what economists were forecasting at 56. 3. Also more concerning it is less than august. That read in august was 56. 55. 4, shows there has been a little bit of stuart pause. Susan anything above 50 still shows expansion. Manufacturing represents around 10 of the u. S. Economy now. The. Stuart market went up a little bit on that news. It is thursday. You know what that means. Mortgage rates. Ashe, do we have a new record low for the 30year fixed . Ashley no, we dont, stu. We have a slight dip from last week. Came in 30year fixedrate is 2. 88 in the most recent reading down ever so slightly from 2. 900 . Yes the Housing Market is showing strength. Yes, we have a lack of inventory. Prices are high. As we point out this week pending home sales were up in august 24 yearoveryear. There is strength in the Housing Market, and a bright spot in the economy. Stuart there is a lot of strength in the Housing Market. Thank you, ash. I will stay on that subject. As we told you pending home sales, ash just covered this. Pending home sales, big number, up almost 9 inn august. That is a huge gain. If you know anything about real estate that is big. Brian brenberg with us, fox news contributor. Brian, this is really a very hot Housing Market, right . Absolutely, stuart. It is not just about housing. This is a confidence story. When people are buying homes, theyre willing to move. It means theyre looking ahead and theyre going after something. They see positive prospects. Housing data month after month after month. I dont how you can escape the conclusion that americans are ready to get on with it. Added on top of the Consumer Confidence we saw this week, stuart, we saw increase we havent seen in 17 years you add it up, people want to get moving. Literally theyre on the move, stuart. Theyre tired of the medias blame narrative. Theyre tired of the grievance narrative. They want to get going. Theyre looking for politicians to catch up with them this point. Stuart you still have a shortage of homes for sale. You have a supply problem. People dont want to move because theyre not sure about whether they can afford the next house that theyre going to pie. I think that is something of a problem but you do have strong, strong demand. Im hearing stories of people in price wars, bidding wars for houses. You have got very sharp, i will use the word sharply rising home prices. So you add it all up, and i think that adds a great deal to the overall economy, am i right . Youre right about this. I think this is much more of a demand story. Again with prices where they are, people wouldnt be looking to move unless they felt like theyre in a position to do this, to make this big ticket purchase. Stuart, when you look at big ticket purchases, cars, apmoonses, homes. That is a great indicator how people are feeling, you dont buy those things unless you think the future is looking brighter, were seeing all of those sales go up over the past couple of months. So again, i just think look at the headline narrative were getting about america, which is decline and stagnation. You look at some of these indications what people are doing with their money, theyre buying, theyre investing. Theyre going. And that story is not out there enough. I think voters have to understand the real picture in america before they make a decision in november. Theyre not getting that right now by and large. Stuart fascinating. Brian, thank thank you, sir, seu real soon. Promise. You bet. Stuart back to the markets, we briefly put the dow in negative territory a couple seconds ago. The bottom line weve lost a 200point rally we had at the opening bell. Nasdaq is still up a hundred points. Our next guest says the september correction is over. Dennis gartman is with us. Does that mean if the correction in september is over, the bull market continues to run now as of october the 1st . As the great Jesse Livermore his book, every trader investor should read, reminisces after stock operator, there is a great character old turkey, who was asked why he wouldnt taking profits on positions that had risen up relatively quickly . He said after all this is a bull market. After all this is a bull market. Amazing how resolute it is. How continuously strong it continues to be. The fed continues to be expansionary. The monetary authorities around the world continue to be expansionary. We had textbook correction Early September to the last days of september. We went to the 50, 100, 200day moving averages, whichever you want to look at that adds support to the stock market. Looks like new highs are coming. You have to be impressed the debate went very poorly for the republicans tuesday night. The market was resoundingly strong yesterday. Opened sharply lower for futures. Moved higher through the course of the day. You have to be impressed. A technical one overdue. Did exactly what it was supposed to do. After all its a bull market. Stuart hold on a second dennis, i want to talk to you about Interest Rates, very low Interest Rates. Items. 10year treasury yields. 00 . Fed treasury Robert Kaplan says we need near zero rates for the next three years. Dennis, we have super low Interest Rates, very much, very close to zero actually. Are there any negative consequences for almost zero rates . Do that question, what was that question again . Stuart okay. Are there any real problems that come along because of we got near zero Interest Rates for the next three years . I can see how it helps the stock market but does it brings problems with it . Brings problems for people like myself. Im over 70 years old. Im retired. I am looking for yield. Where do i go . Where is the problem. That is universal for retired people. This is extraordinarily difficult period of time. One of the driving forces line the stock market. Might be somewhat disconcerting retirees involving themselves aggressively in the stock market, they should be in the bond market where rates are higher. That is the problem. The fed has no intention raising overnight fed funds rate for the next two or three years. At the back end of the yield curve you will see inflationary pressures exhibit themselves. Long bond, 148yearold, 30 year treasury, has to go close to 3 next three years. The yield is more postively sloped. That will help the banks in the United States because they do well in a postively sloped yield curve. Is there a problem . Yes. The fact that the fed will keep rates low for a very long period of time, makes it difficult for retirees, no question about that. Stuart i am not retired and im in my 70s. These very low rates are helping me. Tell you what im doing. Transferring money out of stocks, putting it into real estate. I can get super low Mortgage Rate and i think im into a market where prices are rising. I think im doing the right thing at my age. Your comment, please . Well the problem with real estate when you want to get out you cant get out. It makes it very difficult, two month, three month, fourmonth duration of time between the time you want to sell and time you go to closing. At least in the stock market you hit a bid and can get out immediately. That is the problem. Have you done the right thing thus far . Yes appears to be. As long as rates as low as they are. Mortgage rates under 4 , be there for a long period of time, you are probably in the right place. Stuart you know if you got money in stocks, you can borrow money against those stocks from your Brokerage House and use that to buy a house. Much lower Interest Rates than a mortgage. Are you with me, dennis . Good luck with that. I wish all the best of luck. I hope it works for me. That seems to me a highly leveraged position. If youre doing it, god bless you. I shall, i think i shall avoid that temptation. Stuart oh, boy. Now you got me worried, dennis. Now im worried. My family is watching the show right now. Youve got them all worried, gartman. I tell you. My duarte is in the market buying a house in raleigh. I understand the problem right now. Stuart im looking to florida. Why not . Why not. Stuart see you again soon. President trump facing backlash over proud boys comments over the debate, but he has denounced White Supremacists in previous years. Well talk with paris dennard with black voices for trump. Joe biden downplaying antifa despite the white house designating them as a terror group. Pete hegseth on that later in the show. The Debate Commission says it will change the debate structure to insure, quote, a more or the early discussion. Sounds like the rules are geared towards helping biden. That is just some peoples opinion. Stay with us please, Varney Company, second hour, just moving along. Look limu someone out there needs help customizing their Car Insurance with Liberty Mutual, so they only pay for what they need. False alarm. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. That selling carsarvana, 100 online wouldnt work. But we went to work. Building an experience that lets you shop over 17,000 cars from home. Creating a coast to Coast Network to deliver your car as soon as tomorrow. Recruiting an army of customer advocates to make your experience incredible. And putting you in control of the whole thing with powerful technology. Thats why weve become the nations Fastest Growing retailer. Because our customers love it. See for yourself, at carvana. Com. So youre a small bor a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Stuart all right. The next president ial debate is 15 days away and the Debate Commission says theyre thinking about some rule changes. They want a more erred early conversation. Kiron skinner with us, fox news contributor. Welcome back. Now you say, do we need these changes . Do we need rules changes because of the chaos in the first debate, do we need them . Probably, we should have some changes in the rules for the next debate. These are very aggressive politicians who are talking about the most difficult issues facing the nation and the world. And theyre now inclined to intervene when one is talking, to make a point quickly. So i think anyway that can be put for the, that will allow one candidate to speak and develop his line of reasoning completely, would be helpful for the voters. I think the candidates have to remember that these debates are not really about them. Theyre about how theyre projecting themselves to the voters. The voters need the opportunity to assess them in real time. Their demeanor but more significantly the, their arguments and it was hard to figure out the arguments of the candidates in the previous debate. Stuart politics is a bit like being a tv newscaster. It is always all about you, come on, you know about that but always about me, you, politicians. President trump seemed to get the blame, the commission seemed to blame President Trump what happened on the first debate. Do you think theyre gearing the new rules towards helping biden . I hope not. I hope theyre trying to be objective. If they will blame anyone, they need to look really at the moderator, it appears Chris Wallace found himself in a debate with donald trump. That is not actually supposed to happen. In fact it rarely happens. I studied political debates and have shared them with my students over the decades. That was highly irregular what happened with Chris Wallace. And so i think part of preparing better rules and controls for the next debate is to make sure that the moderator understands his or her role as well. Stuart i think, i would defend Chris Wallace. I dont think he wanted to get into a debate with donald trump but it was almost inevitable and interruptions and backwards and forwards. Look, how about the idea of giving the moderator a kill button, to kill the mic of any of the candidates who got out of line and broke in too much . That would give enormous power to the moderator, wouldnt it . I thought about that. I heard that floated in the last day or so. If someone who has been speaking had a moderator kill me, using a button, im not exactly for that because often youre making an a point that you want the audience to hear. But i do think that there has to be a better understanding among the three participants. The two candidates and the moderator about what they should and should not do. And perhaps better negotiations among them before the upcoming debate. These are critical moments and we need to see better performance. Around i hope that the commission is not looking at biasing the next debate against donald trump. Look at the Natural Instincts and capabilities of the two candidates. Work around them both. Make sure that the moderator has a lot more power over the event than the first one. And it is not to blame Chris Wallace finding yourself in a, kind of a fight with the speakers is not exactly where a moderator wants to be. I hope that doesnt happen once again. Stuart well see. Kiron skinner, thanks for joining us. Well see you soon. Thanks very much. Thank you. Stuart check that market. The dow deeply dipped into the red. It bounced back. Were up nearly 70. Not much of a dip for the nasdaq. Were still up 104 points. The dow losers, which pushed the dow to the negative side. They are these companies. Chevron, weve got chevron, travelers and merck. They are the biggest losers in the dow. That is why we briefly went into the red. We bounced right back again. How about tesla . Theyre looking at a Record Number of deliveries for the Third Quarter. That, that would really help the stock, wouldnt it . What are we looking for . 140,000 if. Susan 140,000 is average analyst for Third Quarter deliveries. The stock has run up 140 . It is priced in were getting record deliveries for this quarter. Were looking 140,000. Any above that would be stock positive. Coming from china. Model y deliveries have been ramping up in the u. S. As well. 140,000, compare that to the 90,000 we got in the First Quarter, and the Second Quarter, shill short of 500,000 deliveries elon musk projected for this year. He is very good at promising. Well see what we get at the end of this year. The last 3 00 months will be tough. If we ramp up to 140,000 were still short. Not many people expect that type of number for the last three months of the year. Stuart interesting how the china market dominates tesla sales. Im not surprised but that is what it is. Susan why weve seen the runup in teslas stock this year. Surprise and early success. Elon musk is very good at getting ahead of some of the scheduling he has with the ramp being up production lines. Stuart u. S. China dispute, hostility, hasnt imposed itself on teslas business. Susan tesla is the first carmaker, the foreign carmaker to wholly own their factory and product lines in china. That has not happened before. General motors, the first to get into the country and ford. Stuart got it. Theyre up seven bucks. 436 on tesla. Look at ford, please. I think the stock is up a little bit anyway. Lauren, come into this, please. The new ceo really shaking the executive ranks. Tell me more about ford and executives. Lauren yes, today is jim farleys First Official day as ceo. He is shaking up management. The cfo will be lao letter. That is interesting. He is head of fords Autonomous Vehicle unit. He replaces tim stone, the ceo, jim farley promising urgency in turning ford around. He will focus on autonomous, electric, more affordable vehicles. Particularly more affordable Autonomous Vehicles. On software services. They produce recurring revenue streams. Ford shares, look at them. That is the yeartodate. Theyre down 28 this year. Theyre competing with tesla and others. They really have to up their electric and their autonomous game. Stuart just cant get the stock out of the 6 todollar range. Where tessa soars, ford down there at 6 or 7 a share. Susan tesla is a different company. Not just the cars. Battery technology and selfdriving. Stuart what a contrast. Tesla, i think of them as a car company. 10 of ford sales multiples more. Connell what a contrast. Congresswoman alexandria ocasiocortez taking aim at palantir. Turns out she didnt want them to go public. More on that for you. Hollywood celebrities pushing to turn texas blue. Calling on their fans to donate to democrats. Is that going to work . I will ask a texas congressman kevin brady, to be precise. Show still to come, fox friends host steve doocy and next hour, pete hegseth and kennedy. What a show. This is decision tech. Find a stock based on your interests or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Stuart all right, the noticeable point there on our screens is the nasdaq composite which is still the standout index. It has got a gain of about 83 points. That is 3 4 of 1 . All others in the green, very strong green for the nasdaq. Cruise lines, uhoh, the cdc is extending the nosale ban all the way through october 31st. In other words you cant take a cruise until halloween. Cruise lines down. The airlines are furloughing 32,000 workers, however, american, for one, says they will bring those employees back if Congress Passes an age package, aid package, got it. Next one, this is interesting, you can get tested for the virus at tampas airport. Lauren, i want to know more about this, specifically it cant be free, can it . Lauren, no, free at all, although it starts at 57. You can get a nasal swab, 125 bucks. Get the results within two days or antiagain test, 57, rapid one, 15 minute results. However you can get a falsenegative there. Voluntary tests. The stole to help mitigate the spread of virus in the airport on the plane, but then expand freedom when passengers land this is great for florida and for tampa. Im thinking of all the northeasterners who go to escape the new york winter, right . The snowbirds. Florida is attractive to them, if they go, get test ited, get a negative result, live their life, that is good for them and good for florida. Stuart im waiting for the very, very rapid test, where you take it, you know whether you got it or not instantly. If you ever got to that point lauren would you spend 57 for it . Stuart would i . Yes, absolutely. I dont want to face quarantine if i get back home. If i take a test, i dont have the virus, i can get back home immediately. I will pay the 50 bucks. Im not sure anybody else would but i would. Lauren im with you. Stuart glad to hear it. 73 Million People watched tuesdays debate but that was down 13 from the first debate four years ago. That was candidate trump and Hillary Clinton. Oh. Came down 13 . Very interesting. Steve doocy is here, fox friends cohost. Lets look at these numbers, steve. Why do you think that the numbers dropped from the first debate four years ago to the debate the other day . Well, stuart, first of all good morning. I just showed up. I heard you were giving out free covid tests. Is that before or after . Stuart you know my reputation being thrifty, dont you. Im sure i have to pay 50 bucks before i leave the pod. Lets get in the wayback machine, remember in 2016, donald trump at very first republican candidate debate was with marco rubio and jeb and he was out there with everybody. And he was saying things that nobody had ever heard a president ial candidate say. He was a disruptor. People were like, whoa, did you hear that . The ratings four years ago solid. All right. Fast forward, we now all have heard donald trump and we know his personality and i think there is a real good possibility that because hes got his core audience, and we heard from monmouth that Something Like 98 of everybody watching had already made up their mind anyway. I think so many people were already knowing that they were going to vote for either joe or either trump, it us like, i dont even need to watch because i to know those people. Then with, particularly with joe biden, you know, he likes to present himself as a centrist but then we hear, there are all these progressives look, i will vote for him, i dont like him but he is better than trump, i wouldnt be surprised if there was a pretty sizable number of people who just said i will vote for biden. I dont need to watch him. I dont really like him. Once we get control of the white house, then were going to change him. But stuart i heard you say that on this show. Maybe there is something to that. Stuart i do notice though, i looked at the fox numbers. Fox started out at about 17 million when the debate began. Right. Stuart ended up at the end with under 11 million. So i, that is a sign people were just turned off as the debate rolled along. Steve, i want to talk to you about, i will put it on, look at that. Your cookbook, yes, the happy in a hurry cookbook. Is it amazon bestseller already . I know it sold out on foxnews. Com. It is the number one book in america right now on amazon. Not the number one cookbook, but the number one book. Stuart, lets face it were looking for something happy. We run out of things to cook during the pandemic this is a combination of both. It has hilarious stories. Two years ago when i wrote the first cookbook with mrs. Doocy, i asked you about what food makes you happy. I remember you said your crispy cracking pork roast. Stuart yes. When you were a kid, this is something, i actually gotten the recipe from greg norman. This was european and australian thing, where you take a pork loin you just make the skin so crispy in a broiler. Stuart yeah. It brings back happy memories every time you eat it. That is the idea behind the book. It is 100 recipes to make everybody happy. Stuart the problem is there is a heart attack in every bite. Before you go, tell me what are you going to cook to make me happy for the next debate . Stuart, i know you like crackers. I now you like ritz crackers. I have a recipe in this cookbook from one of our best friends who lives in franklin lakes, new jersey, i know you know that neck of the woods, it is a ritz cracker crust Peanut Butter pie. It is the best thing you can ever have for dessert. Because were looking for Something Sweet these days, that is what i got. Stuart thanks for being on the show, steve. I do want to tell our audience this, for a limited time, sign up for fox nation, you get a copy of steves new book, you happen to have right here. I got my copy already, steve. Thank you, mr. Doocy. Thank you, stu. Stuart sure thing, maam. Quick update on the movie stocks, Movie Theater stocks. Got bad news for them. No real blockbuster movies coming out on the horizon, until the new bond movie. Thats in november. Until then. Some are cutting opening hours. Cinemark closing some of its theaters during the week. All of them down. It makes you think about the future of cinemas. Talk about pepsi, call them a lockdown winner. They are up 5 in the last quarter thanks to the snack and soda business. The stock is up a mere 3 cents. New York Sports Club facing a lawsuit. Tell me more, ash. What thats all about . A lawsuit claims new York Sports Club and the Parent Company Town Sports International made members essentially jump through hoops to cancel their accounts. Almost become a social joke, isnt it, how to cancel your gym account. They are also accused of charging for april dues despite the fact gyms were closed and failed to credit customers for these charges as they promised. Now the suit also says that since gyms have been allowed to reopen the Company Started charging customers dues again on september the 1st without telling them ahead of time. In some cases, when members had already tried multiple times to cancel their accounts or even when their gym hadnt even opened. To complicate matters, on september the 14th, Town Sports International filed for bankruptcy and stopped paying it leases, permanently closing by the way nine locations but according to the suit still charged members at those closed locations. New yorks Attorney Generals Office says it has received close to 2,000 complaints. The ag asked for the company to credit customers for unfair charges, to stop the company from charging members whose gyms are not even open and to allow them to cancel memberships and pay customers restitution. A mess in other words. Stuart wasnt it a seinfeld episode that dealt you cant get out of your gym membership . It was. 20 years ago. Exactly. Stuart thanks, ashe. Playboy getting ready to return to the market this year. Theyre trying to rebrand. Interesting. Well tell you how they will do that. Also ahead, congressman kevin brady, texas republican. He want a criminal investigation into the New York Times report on trumps taxes. He is going to talk about that to us momentarily. Stuart alexandria ocasiocortez has a long list of dislikes. Her latest, believe it or not it palantir. That is the Data Mining Company that works closely with the government. She wanted to stop palantirs Public Offering which was just yesterday. The horror, they worked with cia to fund psalm swap and may have worked with immigration authorities against illegals. She demands a investigation. She is against a lot of things. Last month she killed a development in the bronx that would have created a 15,000 jobs if in a very depressed area. The development would have brought gentrification. Cant have that. Last year she killed a Amazon Development to would have bought thousands of highly paid jobs in the city. Jeff bezos would have a helicopter landing pad. Why woe people of new york support someone killing their economy. I want to go around the block on this one. Susan, ashley, lauren, you heard what i want to say. You first. Susan not exactly free markets from aoc. The deal to bring hq2 from amazon headquarters. Would have given florke half a billion dollars tax revenue. Were far short because of covid. Were thinking of racing taxes. Who loses in the end, everyday folks. Stuart what do you say,. Ashley ashe i dont understand it. She has loyal if blind support. I dont think a republican in the 14th Congressional District won there for last 50 years. She has over five million twitter followers. She has become a national name. I dont know how she does it repelling jobs that will benefit her own district. Regardless i cant understand how she gets elected much how i cant understand how mayor de blasio runs new york. It doesnt make sense but it is new york. Stuart that is a good one. Lauren, what have you got . Lauren i find her depressing over and over again she kills the american dream. It is okay to be rich to attain something, sometimes the rich person creates jobs. Over and over again she goes after and kills that idea. I find quite depressing. If you look at new york, with de blasio and aoc, people are leaving, continue to look at it. A lot of my friends have left the city. Probably permanently. Stuart yeah, well i come from a socialist country. They ran me out of town. Im here. Im happy to be here. I hate to see socialism return to the big apple. Thanks everybody. All good. Lets check the market. You have got a turnaround right here. We were in the red in the dow a half hour ago. Now youre up 140. The nasdaq is up 114 points. A couple of winners for you, look at this, surprise, surprise, bed, bath beyond. That stock is on a tear up 31 they posted terrific earnings driven by online sales which were up 80 . They saw a two million new customers in that quarter. We had kind of written them off. Susan two million young customers. Stuart thank you,. Susan that spend more. Stuart you got it. Canada goose, a luxury coat maker, just received a upgrade from cowan for a few reasons. One of the reasons is, the luxury market in china is recovering. Number two, were heading into the winter. Up goes canada goose. 4 . California governor gavin newsom look into reparation for black americans. Watch this. This is not california but making a an impact and dent across the country. Stuart well see what paris dennard for black voices for trump makings of that he is coming up own the show. Well be back. Robinhood believes now is the time to do money. Without the commission fees. So, you can start investing today wherever you are even hanging with your dog. So, what are you waiting for . Download now and get your first stock on us. Robinhood. Stuart all right. Still got plenty of green over there. The dow is up 82. Nasdaq is up nearly 100. S p up nearly 12. Mainstream media quick to jump all over the president when he responded to a question about white white supremacist. In the past he has been very clear to condemn White Supremacists watch this. President trump racism is evil, those who cause violence in its names are criminals and thugs. Including kk, neonazis, White Supremacists other hate groups repugnant everything we hold dear as americans. Im not talking about neonazis and White National its. They should be condemned totally. I dont know who the proud boys are, they have to stand down, let Law Enforcement do their work. Stuart that is pretty clear to be honest. How about paris dennard, black voices for trump, that is his organization. That is who he is with, he is with us now. Paris what is the reaction, when you watch the debate, president said proud boys, stand back, stand by, what did you think right then . Who are, first of all who are the proud boys . Never heard of them. I dont know what they do. I know what antifa, i see them destroy black families, black communities, black churches. Who are the proud boys, my first thought. My second thought, why on earth are they asking the president to denounce again . He denounced them, he disavowed white supremacist its and organizations hutting black communities multiple times. Not just as a candidate or private citizen as candidate. I figure out why i while the debate to again denounce something he has done over and over again. My last thought was, why are they asking him to do that and Chris Wallace wont ask joe biden to denounce antifa emphatically. Stop the debate. Make him answer the question. Denounce antifa. Denounce the violence destroying black communities because of these hate groups. I wanted to know, in that moment, why isnt Chris Wallace asking the president about his platinum plan which calls for antifa and the kkk to be label terrorist organizations . I thought it was a complete distraction from the fact that this president is leading when it comes to the black community. His platinum plan is effective. He has a track record of empowering the black community, which is more than we can say joe biden 47 year history of damaging the black community, damaging black families and damaging black generational wealth. Stuart what is your opinion on this one, California Governor Gavin Newsom establishing a task force on reparations for slavery what do you make of that . Look, i dont know how youre going to go about figure out who qualifies for reparations. What they need to be focused on, instead of giving money, millions of dollars to illegal immigrants. Fixing the School System in california. And supporting things that help socioeconomic challenged individuals across the board. If you want to go with a charter school, that is where they spend their money on. If you want to have a better life. You should have tax cuts across the board. Tax increases, not support things like the Green New Deal that will hurt communities of color. Rep pa is as, cash payments, it is a bad idea. Focus on those who need the most. Whether in appalachia or anaheim. We need to focus on those most vulnerable. That is what the president has done. Black in the platinum plan, empower america. 500 billion for access to capital. 3 million new jobs. 500,000 more black owned businesses. 20 billion from access to broadband, increase telehealth. These are things president already is doing. Gavin newsom is a step behind that the reparations is cool thing to do because he wants tock woke. Stop trying to be woke but be relevant to do things for people actually suffering. Stuart you talked about the 500 billion for black from the black community. No pick up in the media at all. Thanks for joining us. Paris, we appreciate it. Thank you. All right. Stuart Governor Newsom making more news actually. Im not sure what this is, susan what have you got . Susan diversity on board. He will stuart corporate boards. Susan require corporate boards in california to have one racially ethnic, diverse direct by next year. First of its kind across the u. S. It might set a trend states may follow. Who qualifies . According to the new law, nativeamerican, native hawaiian and alaska natives, those identify as gay, lesbian, bisexual and transgender are eligible. This will pass easily. The rule we saw two years ago in california which requires Public Companies in california to have one female on the board that will be pretty tough for a lot of companies to have two Board Members from underrepresented groups, right . That means 85 of Companies Currently in california do not meet this requirement. This will go into effect, both of these laws by 2022. That you have to meet those standards and thresholds. Stuart i hardly can believe it. What about the principle . Since when have you rode right in there, said youre a private company, were telling you who will be on your board . Susan youre saving you shouldnt be chosen on ethnicity . Stuart exactly, exactly. That is that corporations right to decide what theyre going to do. Okay. Okay. Producer. Get on with it. Dont worry about it. Big show for you coming up. Pete hegseth. Texas congressman kevin brady, Dan Henninger, wall street journal guy. You got all that . Well be back well have you tried thinkorswim . 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Retire better stuart Indoor Dining has returned to new york city but only at a 25 capacity. You cant make money doing that when your occupancy costs are 30 of sales. It just wont work. It is a fiasco, and de blasio is so naive. Probably we should have some changes in the rules for the next debate. These are very aggressive politicians who are talking about the most difficult issues facing the nation and the world. The market is responding to the Economic News rather than all the political chaos. We had a nearperfect textbook correction from Early September into the lei last are days of the last days of september. This is a bull market. Were entering the golden age of public Venture Capital because i think with all these facts, main streets going to be able to is have a chance to buy into a lot of these venturebacked companies pretty soon. Stuart while we let that music a little, you liked it. I kind of liked it. All right. 11 00 eastern time, heres where we are. Were up about 70 points now on the dow industrials. Weve been in the green pretty much all of the day. A couple of economic numbers, we had 837,000 people filing for firsttime Unemployment Benefits last week. Thats down a bit from the week before. Tomorrow, big deal, friday morning, 8 30 eastern time is the september jobs report. That could well, indeed, affect the markets. And well be here to cover it for you. Now this. Lets be clear, under President Trump the income and wealth gap has been closing. It is narrowing. Our society has enjoyed the benefits of trumpian prosperity. Now, i bet youve not heard that before, have you . All youve heard about is inequality, how capitalism is just terrible. Look, i hate to get heavily into thattist you cans, but statistics, but sometimes you have to. Here we go. In the early years of the Trump Presidency incomes of people who did not graduate high school went up 9 . Thats the lowest rung of the economic ladder, and those people did well. College graduates did not. Their incomes actually came down 2. 3 . Finish were all getting wealthier in the trump years. Median Household Income now around 68,000 a year. In 2015 you were back down around 60,000. That was in the obama years. 60 grand. 68 now. Again, lets be clear, cut through the fog that the left goes on about. Their mantra is the rich get richer and the poor get poorer. That may have been true of the obama biden years when it was all government all the time and business took second place. But under trump capitalism has been allowed to work. Inequality is still there. It always will be, even in north korea, but the gap is narrowing. It really is. The third hour of Varney Company starts right now. Stuart i like that market. Were back up again, up nearly 100 on the dow, nearly 100 on the nasdaq. Its a rally. Plenty of green over there. We keep on getting reports that theyre still talking about a nice, big stimulus package of about 1. 6 trillion. Theyre talking. No agreement just yet, but they are talking. Thats a positive for the market. Heather zumarraga, market watcher supreme, joins us now. All right, heather, obvious question. If we do get a stimulus agreement, do we get another rally on top of the one weve got now . Thats right. You do not want to be short this market, i think, as we get an agreement. Today is a very important day, the next couple of hours, as you know. A deal was not reached between the treasury secretary, steven mnuchin, as well as House Speaker nancy pelosi yesterday. But according to the white house, theyre at about 1. 6 trillion right now, and if the democrats decide to vote before a negotiated compromise, theyre going to go home, perhaps, until of after the election. I dont think it would pass the senate as it stands, over 2. 2 trillion on the democratic side right now, so there really needs to be a compromise because everyone agrees we need stimulus. If we get it, markets will be headed higher. Stuart weve got to say we need that compromise very, very quickly, because if we dont get a compromise if, they all go home, no deal. I understand that one. Right. Stuart how about Goldman Sachs, heather . They say their best case for stocks would be a divided government. I guess that would be biden maybe gets the white house, but the republicans keep the senate. What do you think about that . Exactly. Well, i think as long as the republicans keep the senate, some of these outrageous plans like the Green New Deal, biden now saying its the biden new deal, but we know that was putting regulations on the sector, paris has said they will have to transition to other areas of the economy, and your taxes are going up. But i think that the republicans maintain a majority in the senate, they will have a more difficult time for these things to be passed. I think in the short term getting a vaccine is even more important that the election because even if your taxes are going to go up and businesses are shut down or people are unemployed, then the tax revenue doesnt really matter because nobodys paying taxes at the end of the day. So i think getting a vaccine is more important to the markets and, hopefully, operation warp speed, hopefully something will come before the end of the year. Stuart okay. One more point. Supposing trump won the white house again, the republicans keep the senate, the house, okay, stays democrat, but if you get trump wins again, do you think we get a really big rally as soon as that result is reported . Absolutely. Building back america again, right . Hes already added about 10 million jobs over the past few months tobacco to the labor back to the labor market. Still half of the jobs that we lost during the pandemic have not. We lost other another 800,000 this morning. But again, i think a vaccine is very important, and if President Trump wins reelection, that will be a big positive for the stock market regardless of where you stand. Stuart all right. Heather zumarraga joining us again, we appreciate it. See you again soon. Sir. Stuart the dows up 100 points. Not bad. Lets get back to the president ial debate. Joe biden not only refused to condemn antifa if, he downplayed em. Watch this. Somebodys got to do something about antifa and the left because this is not a [inaudible] fbi director said this is a leftwing antifas an idea, not an organization. Oh, you gotta be kidding. His fbi director gentlemen no, no, were done, sir. Were moving on to the next [inaudible conversations] not an idea. Everybody in your administration stuart i think you got the gist. Joe biden says antifa is an idea, not an organization. The gentleman who is facetiously grinning right there [laughter] is pete hegseth, weekend fox friends cohost. Why cant joe biden just get onboard and say antifas a bunch of thugs and condemn em . Yes. He cant cross his base, which is the far left. He cannot reject the idea of antifa, antifascism, is effectively antiamericanism, anticapitalism, antiborders, antipolice. And if you look at the tenuous relationship that joe biden has made with the far left, with Bernie Sanders on socialism, with comrade cortez and other radical ideas like the Green New Deal, hes barely hold on to them. Holding on to them. So to come out and say words like law and order or to condemn antifa would be a slap in the face to his base, and he cant do that. So i hope hes its ridiculous how many times this president has had to, has repeatedly condemned White Nationalists, White Supremacists, whatever you want to call them, yet he has not yet been forced to truly, fullthroatedly and the president , barely heard in the crosstalk, stuart, he says its not an idea when youre hit by a baseball bat. Any mayor or police chief point to wellorganized antifa. What joe biden does, we shall see. Stuart yeah. Of course, as long as he stays away from answering serious questions in the media, he wont have to answer the question. Thats exactly right. Stuart i cant believe were going all the way through to the election, and joe biden doesnt have to face serious questioning. I i cant believe thats being allowed to happen in america. It sure looks like it, the way things are going. Go ahead. Thats obvious, youre right. No, no, no, he puts a lid on his campaign, and then the media puts another lid on it i by polishing whatever he says. Theyre an arm, a branch of his campaign. There are two more debates left. Will we get the opportunity for him to be confronted about that, or are we going to start cutting off mics, the president ial commission going to start muting people. Its a tenuous stuart that is outrageous. I cant get behind that no way. Stuart the idea that a moderator has the power to shut down the president of the United States of america on whatever grounds, i just cant see that. Can you . No, i cant. This is a debate between two people who want to be the leaders of our country. If we dont if the public doesnt like how that conversation unfolds, then they can vote accordingly. But debates by nature are a confrontation of ideas. The conduct of that, ultimately, will be reflected on the perception of those candidates. Let em battle it out. Do not allow a moderator, who has their own views, Going Forward in the next two debates to hit that mute button if its an idea they dont like. Dewe see that in social media, we dont need anytime a president ial debate. Stuart im going to show a video that appears to show pennsylvanias governor, tom wolf, laughing about wearing masks, laughing along with a state lawmaker. Watch this, please. Im going to take my mask off. [inaudible conversations] on camera. Stuart yeah, youre on camera, man. Laughing about political theater. I believe this is a mask mandate in pennsylvania, and theyre laughing about it. I know you got something to say. Theyre frauds. Their virtuesignaling frauds. You heard what the president said at the debate, and hes totally right. Youre 200 feet away from anybody, socially distanced, yet you wear the mask to try to send a signal like you care about science and i dontment i dont. This is all political theater through november, its all meant to continue to stoke fear, and it makes people like me and other people reject the efforts that affect our life that may make sense. I dont want to be told what i can do. I want to be respectedded as an individual to make a risk calculation for myself. If thats a mask in a certain place, great. Let businesses and individuals make that call. This is what politicians do. I dont need to do it, but ill do it for the unwatched masses so they can see the wonderful example ive provided for them and admire me as a result. Its such a joke, stuart. Stuart you just reminded me of my life growing up in england, the expression unwashed masses. [laughter] i, of course, was one of the unwashed masses, but there you go. Pete, thanks for joining us. [laughter] thank you, stuart. Stuart my goodness. We can laugh about these things, fortunately. Thanks for letting me know. [laughter] stuart youre welcome. Big tech, senators move to subpoena some yeah. We could be hearing from the likes of Mark Zuckerberg, jack dorsey, the u. S. Senate Commerce Committee this morning unanimously voting to subpoena the ceos of these big tech social media names like twitter, facebook and alphabets bag to, as i mentioned google. Weve heard from a. G. Barr, the order from President Trump going back to that 230 section of the Communications Decency act of 1996 which shields a lot of these social Media Companies from being liable for anything that their users post. In the meantime, theyre not scotfree if the democrats win the election in november because democrats actually want to reduce the size and influence of big tech, and thats why we saw that big tech ceo hearing this july with some of the richest people on the planet. So what democratic lawmakers are proposing now is they want to forcibly separate online platforms, and this is a big deal because theyre very close to finishing up their 15month antitrust investigation. If they force the end end ration, that means the separation, that means amazon cant sell their own products on amazon. Com, thats a big deal. And then google, because theyre providing search for everybody, they cant there are a lot of limitations to the services that they provide, ad day that, for one, which is a big, big part of the revenue. Stuart i would suggest if there is a clean sweep in the election biden wins the white house and the democrats win the senate those big name tech stocks, theyre going to come down. Yeah, well stuart they face being broken up by an unrivaled political unity yeah. Kamalas from california, ill just put that in. Stuart thats true. Big show coming occupy. Wall street journals Dan Henninger is here. Im going to talk to him about the shrinking wealth gap. It is shrinking, you know . First, though, debate ratings down because of, in my opinion, this. Roll tape. Law and order . [inaudible conversations] let him law and order. Let him, let him stuart okay. Could any new rules stop that kind of back and forth and keep people tuned in . Were going to cover it for you. Democrats hold off on a stimulus vote to allow more time for negotiations. Is this a sign were close to a deal . I think wall street thinks so. Well deal with it next. Thats what my dad does. Good job, michael ok, lindsey now tell the class what your mommy does. My mom has super powers. Its like she can see the future. What . its like she time travels in a rocket ship. Thats cool and then she comes back saying try this or try that. She helps everyone. She helps them feel less worried. Wow mommy, so what is it that you do . Im a financial advisor. She is aig proudly supports all the professionals taking care of our Financial Futures. So youre a small businor a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Now every bath fitter bathbath fis installed quickly, safely, and beautifully, with a lifetime warranty. Go from old to new. From worn to wow. The beautiful bath youve always wanted, done right, installed by one expert technician, all in one day. Weve been creating moments like these for 35 years, and were here to help you get started. Book your free virtual or inhome Design Consultation today. Stuart Speaker Pelosi and treasury secy mnuchin will meet again today. House democrats held off on a stimulus vote to allow more time for negotiations. Could they be close . Congressman kevin brady is with us from the great state of texas. Are they close to getting a deal, congressman . What do you think . Good morning, stuart. So hard to know. Obviously, an hour and a half discussion yesterday, theyve continued, i think, through the evening, in the morning as well, discussions with leader mcconnell and leader mccarthy. You know, one, i think we need a good focused agreement. Weve recovered unexpectedly well from the pandemic. Were not through it, so i think targeted relief on Small Businesses, distressed industries, airlines, obviously, some key help there, i think, will help us recover. The worry is how much wasteful spending will we have to swallow to do this. I think thats where most, you know, republicans are at. Lets focus on the jobless, on defeating the virus. Stuart i understand that this compromise package could be 75 billion for education no, a 150 billion for education, 75 billion for testing, 60 billion for rental support. But heres the sticking point, 250 billion for state and local authorities and governments. Thats the sticking point, isnt it . Thats what Speaker Pelosi really wants, and thats what treasury secretary mnuchin does not want to give, am i right . Yeah. I think there are a couple. One is this insistence on 4600, even at 400, you know, more than half of americans would be paid more not to return and reconnect. Thats an economic problem, obviously, for main street businesses. But state and local funding, yes, especially if those dollars arent forced down into the smaller cities, less than 500,000 population and the rural communities. Right now its not getting to them, and so you can add all the money you want, but if its not going down into the communities that need it most, you really defeated the purpose. Yeah, those are pretty key sticking points. Stuart what would you prefer, congressman . Would you prefer this deal as its outlined here, this compromise, or no deal at all because you think theres some wasteful spending in there . Yeah, so i want to see the final agreement and how its designed because and im not ducking it. The point is how you do this, as we learned in cares i, really does matter for the economy and for main street businesses. Secondly, i do think we need some targeted help. The question is, you know, is the 500 or 700 billion thats really needed, you know, is the other trillion on top of it so wasteful that we cant do that. We dont know that yet. Stuart will we know by the end of today . You know, hopefully. Hopefully. [laughter] i think itd be important for us. I dont think we should kick this off til after the election. I think well have lost need needlessly lost jobs doing that delay. Stuart congressman, do you think texas will ever flip to the blue column . I ask because weve got a lot of celebrities on the screen right now who are urging people to send money to democrat causes in texas. They want to flip the state. Are you for a flipping kind of state, congressman . No, i dont believe so, but we are a competitive state now, and i think that as a flood of outside money into our astronaut house, our congressional statehouse, our congressional races, senate races, its very apparent. But, no, we are a centerright state, and what joe bidens proposing on jobs, those issues do not sell well in texas. We, in fact, are benefiting from folks moving from the californias of the world that sort of embrace joe biden. So hes really out of step with our state. Stuart okay. Congressman brady, thanks for joining us. Im sure well see you again soon. Thanks, stuart. Stuart yes, sir. Now this, fur hough ares begin today for furloughs begin today for thousands of airline workers. Congress failed to strike a relief deal, so the furloughs are in place. Kristina partsinevelos is at newark airport, but my question for you is do these furloughs affect travelers . Reporter what were seeing already is airlines have cut flights. So when they cut flights, fewer travelers. People are coming here which is whyst its still completely dead at newark airport, and today is the first day that, unfortunately, airlines are going to go ahead with these furloughs, and thats because the 25 billion stimulus package has expired, and theres no deal in sight. United and American Airlines both saying theyre going to furlough 32,000 employees starting today. You had treasury secretary Steve Mnuchin that said he spoke to airline executives, and they are working towards a bipartisan deal, but we know how Speaker Nancy Pelosi delayed the vote yesterday on that 2. 2 trillion package, so theres no deal in sight which is why today American Airlines announced they would be furloughing 19,000 employee. And then you had United Airlines also saying they will furlough 13,000 employees today. And the airline did issue a statement the as well, quote with we implore our elected leaders to reach a compromise, get a deal done now and save jobs. We do have some reports right now too that Delta Airlines are holding back on this for a little, theyre trying very hard to avoid future furloughs on 1700 pilots by november 1st. Overall, though, the entire industry has been relatively insulated just by the drop in travel demand which right now is almost down 70 , and thats because they had that 25 billion stimulus package that was given since may. But now theres no deal, and the predictions are even worse. Expecting travel to fall 66 for the entire 2020 year, so dramatically down. And overall, American Airlines and United Airlines ceos both said theyre willing to bring back those furloughed employees and save those jobs if washington can come to a bipartisan deal worth 25 billion in the coming days. Back to you. Stuart times sure change. I remember the days at knew work airport where where youre standing, kristina, was jampacked full day and night. But now reporter its not. Stuart not. Thanks, kristina, see you again soon. Playboy, trying to rebrand. Weve got more on this multimillion dollar deal coming up for you. And at the debate joe biden said he does not support the Green New Deal, so why does his web site call it a crucial framework for meeting climate challenges . Thats next. Nonvalvular afib can mean a lifetime of blood thinners. And if youre troubled by falls and bleeds, worry follows you everywhere. Over 100,000 people have left blood thinners behind with watchman. Its a onetime, minimally invasive procedure that reduces stroke risk and bleeding worryfor life. Watchman. Its one time. For a lifetime. Its a thirteenhour flight, tfifteen minutes until we board. Oh yeah, we gotta take off. You downloaded the Td Ameritrade mobile app so you can quickly check the markets . Yeah, actually im taking one last look at my dashboard before we board. Excellent. And you have thinkorswim mobile so i can finish analyzing the risk on this position. You two are all set. Have a great flight. Thanks. Well see ya. Ah, theyre getting so smart. Choose the app that fits your investing style. Stuart heres an example of the coming election chaos. In new york city, 100,000 absentee ballots were sent out. They had the wrong name and address printed on the return envelope. They all have to be replaced. Oh, please, think this through. You get one of those faulty ballots in the mail, then you get a replacement. You might be just a little confused, perhaps. You can see this coming a mile off, election chaos. Some will mail in the faulty ballot. Imagine the delay while they sort it out. And, of course, there will be accusations of Voter Suppression and count all the votes whether they are valid or not. Im telling you, its coming, election chaos. Change the subject and look at this, 73 Million People watched the first president ial debate this week. Down from the 84 million who watched the first debate in 2016. Thats a big drop. Bring in kennedy, my colleague at fox business and fox news. All right, kennedy, i why do you think there was such a downturn in viewership . It was still the second mostwatched president ial debate in 24 years. Its because there was so much excitement between donald trump and Hillary Clinton because there was even more animosity, arguably, in that race. And so 84 Million People tuned in for that versus 73 million who tuned in for this debate. But its interesting, because more people talked about this debate. So if you were watching it, it felt like you were a part of history whereas with the Hillary Clinton debate, a lot of people assumed that hillary won the first debate. I remember a bunch of democrats here in new york city said, oh, the elections over. She mopped the floor with him. You never know whats going to happen or if these debates actually change anyones perception to a measurable degree where it would affect the outcome of the race. Stuart okay. Theyre proposing or theyre talking about some rule changes. I believe one of the discussion points is muting the meek. Let the the mic. Let many moderator mute the mic of a candidate who gets out of line. Do you think any rule changes would make any difference . No. Its i dont, not at all. Maybe mic muting, but i think that they should have a taser attached to the microphone [laughter] so mic muting isnt fun. Everyone wants to hear whats going on, but if you actually saw someone get a nonlethal shock in the middle of a president ial debate, that would be exciting. Stuart its bare knuckles democracy, isnt it . If we dont like it, we can make our election decision based on who we like least or most. But it is bare knuckles debates. I dont see anything wrong with it. That would be my opinion. Im going to change the subject, kennedy. Joe biden forced to give a defense on the Green New Deal at the debate. Watch this, please no, i dont support the Green New Deal. Oh, you dont . Thats a big statement. I support the biden plan that i put forward. The biden plan, which is different than what he calls the radical Green New Deal. Stuart okay. Well, according to the Biden Campaign web site, the Green New Deal is a crucial framework for meeting climate challenges. So what do you make of this, kennedy . You cant have it both ways, because the Biggest Issue with the Green New Deal is how much it costs, which is enough between 9360 trillion over ten years. That is a phenomenal amount of money. And joe biden says that his climate plan is 1. 7 trillion over ten years. Thats still a good chunk of change. But i dont see how you can completely reject something and then in a slightly different medium embrace it all at the same time. I understand that politicians are hypocrites and they have to try and please everybody, but there are certain topics where you have to make a choice, and one of the biggest choices you have to make is how youre going to rob the American People by lying to them to fund a program that might have the ultimate aim that you are claiming to want. Stuart one of these days there will be real questions asked by real journalists to joe biden, and then we might get some better idea about what hes got in mine for his term if he wins. Last word to you, kennedy. Yeah. And ask him, really, no airplanes in 15 years . Is that, is that really no cows, no planes . I like cows on planes. Thats how much i like both of them. [laughter] stuart ill remember that, kennedy. Ill look out for that. Kennedy, thanks for joining us. See you again real soon, thank you. Good to see you. Stuart how about this one . Playboy going public again . Its a rebrand. Wait a minute, what a its a Sexual Wellness and pleasure company. Playboy founded by hugh hefner back in 1953 said it was going public by teaming up with a spac, a blank check company, thats a hot trend. And it values playboy at 415 million. No word yet on when it will start trade, but its been led as a resurrection after years of financial struggles and a sagging stock price. Under private ownership, playboy pivoted to street wear, stopped printing the flagship magazine earlier this year. Theres going to be a brand makeover for the company thats fame for those glossy mags featuring. Scantilyclad women stuart naked. They were naked. Scantily clad as they say in the p. C. World. Playboy mansion was sold, by the way, in 2016 for 100 million. So heres the strategy Going Forward, sexual wellnd, style and apparel, gaming and lifestyle, beauty and grooming. Thinkling i ray, other intimacy lingerie, other intimacy products, Fashion Accessories sold at urban outfitters, bloomingdales, and theyve brought in a new generation of a younger demographic who are not familiar with that i iconic, you know, the playboy logo of the bunny and the bunny ears. Stuart i predict its a runaway success. [laughter] whats wrong with that, right in. Wasnt that the icon of the sexuallyfree 60s . Stuart and not to mention the 50s. [laughter] you know, i would have so ask, you know, was there any history with you and, as a young boy stuart no. And Playboy Magazine . Stuart no. Susan, what do you think youre doing here . [laughter] i would say everybodys probably seen a Playboy Magazine. Stuart tart yes. The producer is staying im very glad to hear this. Move on, stu the, move on. [laughter] a new report says were spending more time waiting in fast food drivethru lines. How much time are we spending, lauren . Well, were waiting half a minute longer, so id say about five minutes. So, obviously, we have changed our baer. So many people our behavior. So many people find themselves going to the drivethru and ordering that way than going into the Fast Food Restaurant because theyre relatively fast, almost contactless, and theyre cheap. But because so many people are doing this, its slowing down the speed, increasing the wait times by 30 seconds across ten National Fast food chains. Look, the restaurants are doing a good job in terms of slimming down the menu, using digital menus. Thats all faster, but demand is so big, its slowing down. Mcdonalds, kfc and taco bell have all improved their speeds, and this totally impressed me. Nine in ten orders at mcdonalds in the Second Quarter happened at the drivethru. Nine in ten people ordering from the drivethru, thats it stuart well, that was the pandemic, obviously. I mean, that is a surprising statistic, it really is. All right, thanks, lauren. One of the most memorable moments in the entire debate, wait for it, watch this. Im not going to answer the question why wouldnt you answer that question . The question is, the question is [inaudible] radical left would you shut up, man . Stuart okay. That was quite an exchange, wasnt it . The wall street journal guy, Dan Henninger, has got something to say about that in a moment. Hes joining us after this. Diane retired and opened that pottery studio. How did you come up with all these backstories . I got help from a pro. My financial professional explained to me all the ways nationwide can help protect Financial Futures in peytonville. Nationwide can help the greens get Lifetime Income because their son kyle is moving back home and could help set up a Financial Plan for mrs. Garcia. And he explained how nationwide can help mr. Paisley retire early and spend more time with his pal, peyton. And their new band. Exactly yeah. Dont forget the band. I havent. Stuart all right. I still see green, up 113 on the dow, up 128 on the nasdaq. Not a bad thursday morning, october 1st, rally. And then theres this some of joe bidens supporters speaking out after tuesdays debate. Watch this. I was really disappointed in the both of them. I thought they didnt really make actual points. The debate last night was, like, less than ideal. I salute joe biden for keeping his composure as well as he did. I would have told him to shut up too. It was probably not the best move he could make. That was disturbing, to be honest with you. Stuart i guess hes referring to the shut up, man, remark by joe biden. That is the headline from a wall street journal opinion piece with our own Dan Henninger. Will you shut up, man. Heres the man himself, Dan Henninger. [laughter] i read your piece. You say those five words from the debate may tip voters who are undecided. What do you mean, tip towards biden or what . Well, not necessarily those five words, though i think those five words summed up the Biden Campaign strategy against donald trump. I mean, lets understand what the debate was about even if it was totally incoherent. Politically we know that most voters are committed already in the election, stuart, they know who theyre going to vote for. The electorate is extremely polarized. So one of the target groups, important target groups are undecided voters who quite havent made up their minds yet. We also know that the biden camp, their strategy is not necessarily to run against Donald Trumps record. He has a very strong record especially on the economy. But to run against donald trump personally, the idea is that trumps persona is too much, and people cant stand to be around him for another four years. And i think what theyve also discovered is that if theres an achilles heel on donald trump, its that he really doesnt like criticism. He cracks back against it right away no matter who makes it against him as he did in the primaries four years ago. So joe biden got trump to crack back like that and started interrupting him, and the debate clearly degraded away from any discussion of the trump administrations policies and into a personal fight. And i think to that extent biden accomplished what he wanted to with undecided voters. Not trump supporters, but with undecided voters who would be put off by President Trumps behavior during that debate. Stuart i wish we could have heard more about President Trumps success with the economy. Ive got this report from the Federal Reserve, and it shows that median incomes of people with no High School Degree up 9 during the trump years compared to the Obama Biden Administration where it was up just 1. 7 . I mean, this is all about the income and wealth gap really narrowing. I wish id have heard more about that. Yeah. And i wish the president had taken advantage of the opportunities he had to describe exactly its an extraordinary accomplishment, what his administration did in the first three or four years in that respect. At one point he was asked straightforwardly if he would address the issue of what he has done on the matter of race in america. He could have immediately started talking about that, the extraordinary employment levels that have risen for black americans, Economic Opportunities for black americans, hispanicamericans. Instead he went of after joe biden about something biden had said in 1994 when joe biden himself said we cant fix the economy until we fix the covid crisis. He was suggesting were going to have lockdowns in the horizon. That was another opportunity for mr. Trump to talk about the importance of reviving the economy and returning it to the status that is described in the Federal Reserve report. But that was another missed opportunity. So we never really got a good look at the trump record in this first debate, stuart. Stuart by the way, theyve sold out of those tshirts saying oh, shut up, man. Theyve sold south of these things sold out of these things. Dan henninger, see you again soon. The rally continues, by the way. Bottom righthand corner, were up 100 points on the dow. Hoping, i guess, for a stimulus plan through congress. Now this one professional football stadium using drones to clean things up. Tell me more, ash. Yeah, stu, weve shown videos of these disinfecting drones being demonstrated, is and now the technology is being used at Mercedes Benz stadium in atlanta, home of the falcons and atlanta united, mls team. Fascinating. The first professional sports stadium to actually embrace this system. The drones, by the way, use electrostatic spraying nozzles that evenly distribute medicalgrade disinfecting chemicals that can prevent harmful back bacteria or virusem sticking to surfaces without leaving a reds lieu due, also residue. By the way, the technology will be used before a limited number of fans return for the falcons home game against the panthers on october the 11th. Meantime, we should also update this from the nfl. The titans steelers game scheduled for this coming sunday will now be played sometime later in the season. That according to the nfl today. A total of five titans players and six staffers have tested positive for covid19, and the titans facility in nashville remains closed. Stuart get those games in no matter what. Thanks, ash. The mall of america donating retail space to some Small Businesses which have been hit by urban unrest. A live report from the mall of america coming up right after this break. So youre a small business, or a big one. 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The kohler walkin bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. Everything is installed in as little as a day by a kohlercertified installer. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of mind. Ask about saving up to 1,500 on your installation. Virtual appointments now available. And if we win, we get to tell you and doug. How Liberty Mutual customizes Car Insurance so you only pay for what you need. Isnt that what you just did . Service stand back, im gonna show ya how doug and limu roll, ya you know you got to live it if you wanna wi. [ music stops ] time out only pay for what you need. Liberty. Liberty. Liberty. Liberty. Stuart we told you about this earlier n the show, mall of america helping Small Businesses hurt by urban unrest. Grady trimbles still there. In fact, i believe the store just opened. Hows it going . Reporter i it just opened about an hour ago, stuart, and it has really come alive. Its filled with customers as well as entrepreneurs, and they all share something in common. Theyve been heavily impacted by either the pandemic or the violence and unrest following the death of george floyd here in minnesota. And in many cases, they have all of that in common. Its been a very hard year for businesses here. Last time we talked we introduced you to a Business Owner whose business was destroyed in a fire, and now we want to introduce you to someone with the mall of america, jill. You really helped make this happen, and its been months in the making. It has, you know, as soon as the unrest in the community took place at the end of may, we reached out to a lot of Community Leaders to see how we could help. We were able to repurpose a retail space to bring 16 businesses to reach our community at mall of america and also their fan base. So its a fantastic expression of the Community Working together to rebuild. Everything from clothes to beauty products, kids products here, really a Second Chance for many businesses that that were destroyed or badly hit by the pandemic. This is an opportunity for them to show off their products. Its well underway now, been going for about an hour, and they will be here until spring of next year, so a lot of time to get foot traffic in here at the mall. Stu . Stuart way to go. Thanks, grady, good story. All right, we will have, and this is another promise, more varney after this, but first, a quick look at a deserted what have we got, times square or sixth avenue . Thats clearly deserted even though the suns shining, even though the restaurants are open and you can eat inside, still deserted. Were carvana, the company who invented car vending machines and buying a car 100 online. Now weve created a brand new way for you to sell your car. 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Call or go online to speak with a licensed humana sales agent and get your free decision guide. Its about getting to know you to help you be your healthiest. Helping you find specialist and schedule appointments. Keeping you social online or off and covering you in emergencies wherever you are. Its saving big on prescriptions like humana Medicare Advantage Prescription Drug plan members who saved an estimated 7800 dollars on average on their prescription costs last year. Its about feeling your best with Preventive Care and Silver Sneakers Fitness Programs. And its knowing that your dental and vision care are included with most plans. Its about affordable allinone Health Insurance by humans for humans. This is the Medicare Advantage plan you deserve. So call or go online to speak with a licensed humana sales agent and get your free decision guide. Humana a more human way to healthcare. Stuart reminder please, send in your friday feedback. Were almost there, you know. You can email us or go on our twitter and facebook pages. We want questions, comments and take your videos as well. You might be featured in the friday feedback segment. I think we got message directed at me. Susan stu, you seem angry today and upset. I said today, really . [laughter]. Stuart im the guy who always has a pleasant smile most of the time. Producers, be quiet producers. Most of the time ive got a smile on my face. Susan [laughter] stuart director is talking to me. Producers is talking to me. Susan is having a go at me here for heavens sake. Save your come mint for friday feedback. We get as many in as we possibly con can. We love the video. If you want to be on tv this is your moment, ladies and gentlemen. My moment is almost done. We have 10 seconds to go. I will tell you we have a nice rally so far today. Lots of green. I will leave it right there. Neil, its yours. Neil did you say youre hearing voices in your head . Stuart oak pagessal habit. Neil when you get to be our age you hear more than voices in our head. Stuart, thank you very much. Dow up 105 points. Were looking at couple things concurrently. Stocks is hoping on stimulus deal. Nancy pelosi is dousing expectations. No guarranty. Anything we get done maybe by election day. Hope springs eternal. The Airline Industry in raft of ,