Transcripts For FBC Varney Company 20240712

Joe biden got through all 90 minutes without a gaffe or no senior moment and enough energy to say to the president overshot up man. He called him a racist, a liar and the worst american president ever. Mr. Trump came on strong, perhaps too strong, he may have brought sympathy after he attacked his sons drug use. Key issues were lost in the fight, biden were not answer questions about packing the Supreme Court, he was wrong about the economy under President Trump, he tried to walk away from the green new deal, i wouldve liked to heard more about that, the president would not condemn white supremacist and did not fully answer questions about healthcare. My opinion, nobody one, voters who wanted a fight lost. Right after the debate stocks sold off, features showed a 300point loss for the dow but it has come back, perhaps because a lot more talk about a new stimulus plan and a good jobs report from adp, we are looking at a 50point loss for the dow, Minor Leagues loss for the s p and the nasdaq down 25. That is it. For those of you who can care less about politics, we have palantir, it mines data for Government Agencies and big corporations and a new Economy Company that has been very popular recently, palantir has been losing money but if you want to you come by stock as of today. I will tell you do we have a show for you, the day after the first debate, kayleigh mcenany, martha maccallum, lou dobbs, bret baier, theres a lineup. Varney company is about to begin. Are you willing to tell the omega people tonight whether or not you will support either ending the filibuster or packing the court. Im not going to answer the question. Why would you not answer the question. The question is. The radical left. Would you shut up man. The wrong guy, the wrong night, the wrong time. The whole idea. There is no manifesto. Please let him speak mr. President. You just lost the left. Dont ever use smart with me. Dont ever use that word. There is nothing smart about you joe. We handed him a blooming economy, he blew it. You already fired most of them because they did a good j job. Wait a minute you get the final word. Its hard to get any wording with this clown, excuse me this person. Stuart you heard it didnt you, a little taste of last nights shouting match. Is that what you wanted to see, if you tuned in at the start did you keep watching to the end . It was the first debate in a very important election. The next one scheduled for october 15, some on the left wanted to be canceled. Joe biden got through this one, cut off the debates while youre ahead, that seems to be the thinking over there. Lets get to your money, bring in shark shaka lonnie, there ia major selloff but do you think its because of the debate. As you pointed out were down 300point to the features after the debate ended and were down another couple hundred points but we made most of that back up and i think the market is struggling to get above water and probably based on the likelihood of the hopeful likelihood of whether or not it is remains to be seen. I think investors are disappointed in what they saw, i know i was and i was hoping for policy and platform positioning so i can understand where to apply capital, i do not get anything like that. Stuart i dont think were any wiser this morning of what a biden presidency would look like or abiding presidency with the senate going democrat how that would look like, i dont think were any wiser this morning than we were 24 hours ago. No we arent, i think the markets may reflect that the rest of the week, we had good numbers yesterday in terms of Consumer Confidence, those numbers were great Consumer Sentiment is strong and positive in the market like so they saw yesterday and tried to rally and based on what we saw dennis he of the debate, i think they get to be a little bit testy and whether we can continue to rally off september lowes because of the poor performances of the candidates in the debate. Stuart are you going to wear off buying any stock until after the election . No, i am poised to buy on any dip, we have already bought some stock on the first leg of the september dip, im looking to buy considerably more depending on what dip that we get, i anticipate some selling as they go to the sideline going into what is probably going to be a contested election and i think that creates a tremendous opportunity. Any dips are going to be buying opportunity. Stuart you have been saying this for four or five years, by dips, by dips, you always bought the dips, toys worked out for you. Are you basically predicting that come what may next year will be very good for the stock market . Absolutely, i think firstquarter is probably going to be the beginning, before the First Quarter i think we will bounce, no matter who it is once we get past the election in the contention and whatever happens, people are talking about the contested elected as far as a president but nobody is talked about what will be contested in terms of the congressional rate, i think its going to be a royal mess but once its all clear, it does not matter who wins. The congress has to fix what is broken in the economy. We know theres a lot of problems of money has to be set and we will get stimulus at some point and there will be a turnaround of events and next year will be a great year. Stuart we will leave it at that, you are on tape, next year will be a great year. Watch out. Thank you shah gilani lets bring in ronna mcdaniel. Can you make the case that President Trump won last night . I can because i think joe biden was all over the map, first he said the president did the wrong thing shutting down the economy, then he said im going to shut it down if i get elected, he would not answer about law and order he sent them ahead of the Democrat Party but then when he was asked if he called the governor of oregon and the mayor of portland he would not answer that question and i think finally the big loss for biden was refusing to answer about stacking the Supreme Court, which means yes he will. The fact of the matter is joe biden is contemplating upending the third branch of government and being dishonest with the American People. The more we replay these clips, the more that you see joe biden really failed last night to share with the American People and honest vision of how he would govern. Stuart let me show you this, i thought it was very hard to watch, i thought it was a shouting match, i thought it turned a lot of people off and i dont think it would convince those people who remain in the middle, i do not think it will convince them to go one way or the other. Last 30 seconds for you. I think people left with her candidate but i do think if you dissected joe biden the fact that he will not answer about stacking the Supreme Court, we need to get to the bottom before this election is held. Thats, you have a president ial candidate that will not be honest and i think Chris Wallace shouldve pressed him hard and i think every other reporter should push this i think the American People need to know. Stuart thank you for taking time out, i know you have to be very busy, we appreciate you being here. Lets bring in susan, we are all desperately searching for positive this morning and susan has found the 400 stock. Susan not a bad place to be, 60 on the nasdaq have rallied and at least 400 at their peak this year and in a year in the midst of a pandemic, the number of stocks have skyrocketed, at least 400 at some point in the first three months of this year and the highest number since 2000, the. Com era think of zuma, tesla, or novavax, overstock, 60 of a third are held to companies rallying on the need for treatments and cures for covid, as a whole for the broader stock market, it was a tough year for most companies in most stocks, more than a thousand stocks lost half of their value out there lowes in your part of the 60 that have rallied 400 , youve done very well this year. Stuart at the lowes, half of them lost half of their value. The market did sell off in march. Susan it has rebounded since. Stuart check features, the day after the debate a contentious food fight debate, down on the dow, a fractional loss for the s p and down 15 on the nasdaq, the media did not hold anything back after the debate, watch this. That was a hot mess inside a Dumpster Fire inside a train wreck. That was a ship show and a complete disaster. That was the worst president ial debate ive ever seen. Stuart we will have more on that coming up, heres the allstar lineup, White House Press secretary kayleigh mcenany, martha maccallum, lou dobbs, bret baier, quibi here, Varney Company rolling along. 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 plenty of Economic Data out this morning, we will start with mortgage application, talk about real estate. Susan drop in total Mortgage Applications down close to 5 , 4. 8 from last week to the previous week, Mortgage Applications to purchase a home fell 2 for the week but if you compared to last year we are up nearly a quarter. Stuart adp private sector jobs before i think that was a good number. Thats what turned around the features in the premarket in the stock market, adp came and struggled than anticipated, private payroll increase 749,000 in the month of september, compare that to the estimates of six under 50000. I think that was a Positive Side for the job market. Stuart 100,000 outcome a final read on Second Quarter gdp. Susan this better than in piss impeded shrinkage and a record of u. S. Economic history, Second Quarter march and june saw the economy shrink by 31. 4 , that is better than the initial 31. 7. Stuart never said anything about that before. John lonski is with us this morning. John you are an economist, that was a standout news report on private sector jobs, talk to me about the whole Third Quarter, this is the last day of the Third Quarter, how big of a blowout. Third quarter real gdp, that will be growing by 28 annualized, the number is going to come in closer to 30 then to 25 , a giant improvement over the 31 contraction we had for the Second Quarter, the incredible story is the jobs number that we had today, nearly 750,000 private sector jobs, my goodness every time i looked at the newspaper and listen to a tv show, a different channel, i was being told the economy is falling apart, it is slowing down and yet we got the huge increase by private sector payroll for september and we had the Unemployment Rate of 8. 4 , it took us four months to go from april nearly 15 to 8. 4 under obama, biden, it took 27 months to get the Unemployment Rate down from the high of october 2009, that was generate to thousand 12, thats ultra should be stressing, dont talk about the greatest takata be ever, talk about how great the labor market was prior to covid19. Stuart you talk to me about the moody report which is rattling around moody says a biden presidency will be better for the recovery then a second term for trump, what do you say about that. There is one problem, the difficulty of trying to quantify increased regulation. One thing i would be worried about is a biden presidency we will get an increase in regulation, thats what happens under obama and biden back in 2009, 2010 and because of increased regulation we were unable to realize the full benefits of massive fiscal stimulus, we have fiscal stimulus package and we could not benefit from it. That was a near 0 federal funds rate. Economists cannot quantify regulation wealth in a macro sense and so i would not dismiss the possibility that too much reg could damage or offset a lot of the fiscal monetary stimulus. Stuart i am laughing that is quite obvious your dog is a trump supporter. Lets move on, who gets credit for the economy in the great economy prior to covid, both of them biden and trump are claiming credit for. Watch this. I had the greatest economy in the country were doing a business, he will shut it down, he will destroy this country. We inherited the worst recession short of the depression in American History, i was asked to bring it back, we were able to have an economic recovery that created the job youre talking about, we handed him a booming economy, he blew it. Stuart sorted out, who gets a real credit. All give the credit to the administration for being quick to supply first stimulus. Stuart where your reporting from home, we usually have young kids running into the living room and get on camera, weve had the phone ring but this is the first time were we had an interview where the dog barked throughout but he did not put us off. I am so sorry. Stuart its all right im sure hes a lovely dog. We will see you again soon john lonski. Good luck to you and your dog. I gotta talk disney for a moment. They have announced massive layoffs, the stock is down right now, lauren come into this who is disney blaming for this customer. Lauren the state of california and its unwillingness to allow disneyland to reopen safely or even issue guidelines about when they can get back to business, Orange Company said just yesterday that yes it is a . , they cannot tell them when they can possibly be open, disneyland has been open for six months i have been devastating for the workers, the company in the city of anaheim and their relying on tourist dollars, 28000 disney workers of all levels and theme parks with experience in Retail Division are living their jobs, just like that, six much are not making money, classic example of government and business, not working together and in california, yoga conflict between the closed crowd versus the reopening crowd which is the president and obviously disney. Stuart one more awful problem for california. Some of which are selfinflicted wounds in my opinion. Back to the overall market, day after the debate, on the downside but not by much, the s p unchanged the dow down 15, nasdaq down seven, that is not a huge decline. Back after this. 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. 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 not Much Movement right before the opening bell we have a couple of minutes to go, on the downside but not by much, look who is here Charles Payne himself, charles, do you think the good jobs number from adp is moving the market despite the debate yes go last night . I would say it is moving the market but i would not use the word despite, i hear the overarching narrative that somehow the market was reacted to the debate and yes if you study the futures from the very beginning of trading, they were for the most part study, nasdaq was up until 4 00 a. M. , the initial reaction for market was not negative it was indifferent if you will but of course if you get enough chat and Financial Media to drive the narrative then you can kind of nudge it a little bit, the most important thing, forget about the debates for a moment, you talk about the jobs report in the job numbers, think about this if these numbers are echoed on friday by the government were talking about good, 60000 construction, 130,000 manufacturing, if this is the data that we see on it wont matter about the debates, this is all about the heartland and getting america restarted, its about building homes for people moving to the new homes for the american dream, if these numbers echoed on friday, its going to be a game changer. Stuart are you predicting a really strong jobs report friday morning, it sounds like you are. I think its going to come a betterthanexpected, i think we could see a bout a million but in the last 24 hours we sold Consumer Confidence rise at the fastest onemonth pace in 17 years, this morning we got a report from the chicago pmi and i still havent finished going through this thing, it is mind boggling, he came in substantially higher than what the street expected, 62 is the read, this morning Business Insider which is the progressive journal, they love anything that china does, chinas manufacturing came at 51point live from 50 month over month, they said that was a surge, chicago pmi, that was a surge, we have manufacturing and a housing boom and still have a strong jobs market, but where the jobs are, it really is important to americans. Stuart this is been washed under the carpet or the table or whatever the expression is, you are talking about awarding thirdquarter going into a fourthquarter, spectacular results on the economy, i dont hear that much about it when im reading the New York Times or any other publication. Last word to you. It is sad because it is discouraging and the news that they put out is designed to lean ideologically but it is actually discouraging for the people who need to hear the optimism the most, thats what i say its unfortunate that the media has decided to go down this road. Stuart thank you very much for joining us on this particular important day, thank you very much indeed, we are still looking at futures, we have a minute to go before the market opens, were looking at a modest downside move for the dow, nasdaq and the s p 500. Interesting, this is the day after the debate, i was expecting the debate would have a more cleancut result in the market would react to that result, i dont think we have a result of any kind and i dont think anybody won the debate, i think viewers and voters were the losers, it was a shouting match. Susan i think we came back from 200 points down at the dow so were looking at a flat open, we have some positive on stimulus from treasury secretary mnuchin and pelosi hopeful of a second round. Stuart minute it says there is room for compromise and pelosi said she still hopeful and the bell is ringing and three seconds we get action on wall street. They are often running, 930 eastern time, lets see how we do, we are up, right from the getgo i have again of 60 points, you would not of expected that if you looked at dow futures right after the debate. It is strong, not that strong but up 72 points in the vast majority of the dow 30 are in the green. Now were up 92 points for the dow industrial. I am rather surprised about that, maybe the adp report or the economic numbers which are pretty good this morning, now look at the s p, as the dow was up 114, the s p is up one quarter of 1 , not as good as gain of the doubt but again nonetheless. The nasdaq up 1. 7 , the big tech is not doing that well, show them to me, we are up pretty much across the board that apple is down a tiny fraction and google is down two bucks. That is it, now apple has turned to the upside, with a lot of green on the screen this morning, the dow was up 142, the dow winners on your screen, doubt and, boeing, all winners, nicely so, the dow loses, with how we got that list assembled, disney is down, nike is down, merck, no change, apple turned around to the upside and so has verizon, not many losers when the dow was up 150 points with the first couple minutes of business. I have news on apple, tim cook, got a big stock package. Susan first time in years that apple has bought tim cook, the only time he received them when he took over as ceo back in 2011 after steve jobs passing, he gets a stock worth as much 114 million that depends how apple is performing and is the Worlds Largest company, hovering close to 2 trillion in market cap the First Company to cross the milestone, awarding the shares, apple directors make it a very rare statement and you hardly get these statements from the board of directors same for the first time in nearly a decade we are awarding to a new stock grant that will invest over time in recognition of his outstanding leadership with great optimism for apples future as he carries efforts forward, he has pledged to give away all of his wealth in 2015 and bloomberg listing him as a billionaire this year. Stuart i like the guy hes a terrific executive, hes a really Good Business leader. Susan most of apples worth has tripled over his work from seven. Stuart can you show me google stock , can you make this important to me. Susan think of politics, think of u. S. China politics, china is doing with the d. O. J. Is doing is possibly looking and launching an antitrust case against google and this time for their android operating system that is here in the u. S. And the looking at their dominance when it comes to Online Search and online advertising, dont forget multiple state attorney general and the u. S. Has opened their own investigation into google and were looking at the stock, down a little bit today the alphabet and google has underperformed the rest of the big tech sector because the overhang of the Regulatory Environment in antitrust. Stuart that is the backdrop, the Regulatory Environment is not getting good for google. Susan even china. Stuart next case, we have regeneron and madrona, nice gains, not huge but nice especially from a moderna. Susan outperformance, regeneron rally and after results from the antibody cocktail therapeutic showing the drug help people infected with covid would shake their symptoms faster and reduce the amount of viral load in their body. The patients with their own coronavirus antibody they sell symptoms become mild or absent in six days on average, 13 days on a placebo and thats only after a low dose, moderna is another vaccine developer and also up after earlystage data shows Coronavirus Vaccine can generate neutralizing antibodies and the more susceptible, they can be older and elderly folks and level compared to the antibody load in their body after the vaccine which i thought was very impressive. Stuart my problem with the vaccine, how many people actually take the vaccine when it is available. How many, how many are willing to take a. Susan elon musk even said he would not take one. Stuart i think thats going to be a problem. American airlines, lawrence got this one, the testing passengers for the virus before they get on the flight. Lauren yes, all about making you feel comfortable that nobody has the virus on the flight and you dont have to quarantine when you arrive at your destination. This starts next month, some passengers at miami airport headed to jamaica and the bahamas and the caribbean can take the rapid test, they want to boost International Travel in working with Foreign Government to do so and the reason like i stated, confidence and then you can get out of the quarantine which is a big reason so many people are not flying these days, theyre not the only ones, we told you about united, jetblue, Hawaiian Airlines but these tests do not come cheap, if you want to get it ahead of time and do it at your home is about 80, not including overnight shipping and if you want to do a test at the airport, it can be as much as 250 on top of your plane ticket. So to be comfortable and rest assured, does not come cheap but thats pretty expensive. Stuart i was a very expensive, how many people want to shell out that kind of money. Quick observation the dow is up 200point which means after the debate last night, features were down 300, now we are up 200, that the 500point swing following the close of the first president ial debate. Next lauren, yum caesars, whos got this one, susan, caesars, im sorry actually stop this, caesars the biggest people is william hill, a big deal. Ashley it is a big deal, caesars valuing this deal at 3. 7 billion to buy the british maker william hill, thered have a 20 stake so it will give the casino operator full control of the bookmaker and quickly expanding sports an Online Business as we know in the u. S. It is interesting because william hill stock dropped earlier this week because analysts believe this offer significantly undervalued the company and the board of william hill said they wanted to take it, caesar says it tends to find alternative owners for the bookies nonus businesses which includes more than 1400 uk betting and it will integrate the u. S. Business into caesars with minimal job loss. William hill i was located up was founded in 1934, 86 years ago. Stuart i think our viewers should know if you walk down any street in britain there will be a bedding shop, booking on the corner and its all legal you can bet on anything. Here is one for you, van duell, draftkings allowing people to that on the debate last night. How did that work. Ashley for the First Time Ever both under both of the gambling sites offered proper vents on the president ial debate, things like wages on specific events happening, not about the final outcome, how about things like how well the candidates greet each other or what color will trumps tybee, each of these part of the tournament prize pool they cannot be wagered upon individually they answer ten yes or no or multiplechoice questions and then the contestants with the most correct answers at the end of the debate split a prize, it was no charge for this, van duells contest was 10000 and draftkings was 50000, i think you can bet on whether joe biden would use the word malarkey. Stuart he does use that word a lot. Another reason to watch a nasty debate all the way through. Thank you. Fox business alert, fired fbi director james comey said to testify on capitol hill at the top of the 10 00 oclock hour this morning. He will be answering questions regarding his role in the early stages of the rasa underbrush investigation lou dobbs will join us later to react to that. Last nights debate, full of interruptions, watch this. I was proud of my son. Tens of millions of dollars. Totally regarding discredited. Regarding been through this, i think the American People would rather hear about more substantial subjects. Stuart you are right Chris Wallace, i actually think it was tough to watch no matter whose side you are on. Ill go out in my take at the top of the next hour. You are watching by varney and company on this wednesday morning. Did you know you can go to libertymutual. Com to customizes your Car Insurance so you only pay for what you need . Really . I didnt aah ok. Im on vibrate. Aaah only pay for what you need. Liberty. Liberty. Liberty. Liberty. 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Stuart what John Montague was talking about a really strong economic rebound and that the chicago pmi more evidence of it, it is a search, 60 4. 2 now youre up to 13 on the dow, this year 2020 has been a big year for new listings, we have another big one today, it is pollen tear, a data mining company, give me the latest on that. Susan direct listings might take a bit longer i would not hold my breath for the first few hours is more complicated with buyers and sellers to the traditional ipo, direct listings you dont raise money, thats not what palantirs goal is, its more of the early investors to get out, think of peter the billionaire backer, palantir has set a reference of 7. 25 with a reference rate and more of a guideline on pricing and the stock will open closer to 10 a share where palantirs underwriter say is closer to what they raise in the value and the private market and palantir peter credited with finding Osama Bin Laden with the trade around 10 that is close to 30 billion, palantir is a unicorn that is never made a profit in fact they lost 50 less this year than they did last year and you can look at signs it reported a loss of 150 million in the first six month of this year, better than last year because revenue sales will go 50 this year but a banner year for day one debut, especially with technology because youre up over 22 on day one on average. Stuart on average, thats a big day for day one. Ray wang is with us, our tech guy, would you buy this one, palantir lets take comes out 10 a share, would you buy it at ten. Ten, definitely, a special data mining software, they can answer questions that dont have complete data sets, they help her shes figure out if you consume more snack foods stated on the weather. Thats an open question, being able to answer questions like that they got away from pure government, they used to do the three letter agencies and moving into the commercial side, at 15, probably not. Stuart you think their services what they do for corporations, you think that is expensive, they have 125 Company Spending over 5 million each on palantir the work that they do for them and you think that is expensive. A lot of techniques and a lot of services, traditionally they come out in their softwarebased, their two platforms, one is golf them, federal agency the government and the other one is for the commercial side, a lot of the techniques can come and be done at one tenth of the cost and the secret is in the people in the Services Part of them, normally what you invest in Tech Companies is the software because thats what scales. Theyre doing it to get the services piece, the software is what im looking at in the long run now that the public and less secretive. Stuart i like the politics, they will work with the government including working with the cia and the military and the pentagon, they do that dont they. They do they have been credited for bringing different databases that have traditionally been isolated, cia information with fbi information plus social media they put together different data sets and they are politically agnostic on how theyre working and its differ on what happened in Silicon Valley in the last five years which is nonpolitical about where you work on, where and why. Stuart fascinating, we would buy it at ten but not 15. We will leave it at that ray wang, thank you for joining us. By the way the dow height of the morning now up 250 points for the Dow Jones Industrial average, theres plenty of big time winners among the dow 30, one more direct listing hits today and that is a sauna, what do they do. Susan their Work Management Software Company founded by billionaire facebook cofounder dustin, big money back in the company and with a a lot less than palantir of 5 billion, high growth of the reference rate of 21 a share, most of the stocks trade much higher than the reference rate in the two direct listings previous to this lock and spotify had very successful day one debuts, both traded way above the reference rate when they opened and the only problem with the direct listings is that is a guideline as to what is to come for the direct listings of pollen tear and asana has underperformed in the month afterwards. Stuart asana is out today, not trading today. Kayleigh mcenany is coming up on the show, i went to the what President Trump thinks he won the debate, she spoke to them right after the debate, im going to ask her. What happens if judge Amy Coney Barrett is not comfortable for november the third, we have a contested election. Martha maccallum will be here on that one and this is Varney Company on a wednesday morning. All so youre a small business, or 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 shall be those deliveries, food delivery apps on your screen, over technology, grub hub, amazon, et cetera, we are hearing reports that there delivery apps are ruining Grocery Stores because they clean out the shelves for pandemic orders before customers can get their hands on anything, that is what we are hearing, lets bring in the expert, the ceo of a Company Called box, we call it the online version of the big box stores, frequent guest on the show joining us n now, grocery delivery apps are ruining Grocery Stores, are you doing this . I think they are talking about all the shoppers going into the stores and like you said cleaning out the shelves for cleaning products and the essentials before the customers get their clogging the aisles and certainly that is becoming a problem but luckily for us, we deliver from our Fulfillment Centers and theres no live customers behind me even in this building, each customer represented by one of those totes, no customers here to bother and customer see whats available so the never disappointed. Stuart we invited you because we know you are lowering the price of womens items, why are you doing that. Around 30 states or so in the country, as a retailer by law we have to collect sales tax if its a luxury item on tampon and feminine products in the majority of customers are women and we believe its an unfair tax and tax often comes up on the show and its our way to rebate that back to customers. Stuart you got a big increase in business because there lowering the price. Absolutely this is an interesting study of lowering the price and the tax collected and actually seen an increase in business because for us we have already saved folks over 2 million, theres been hundreds of thousands of customers to come into shop the products and women who shop, its one of the primary reason that they shop with us because were the only National Retailer to rebate the tax back to them. Stuart boxed ceo founder and program more than who has been on this program more than other big boxed organization. Thank you for joining us see you again real soon. A big show coming up, White House Press secretary kayleigh mcenany, the story with market under martha maccallum, bret baier and the incomparable lou dobbs, all of them here. First a question, do you do you see that debate, i say nobody one, i think american politics lost, that is the theme of my taking next. Stuart it is exactly 10 00 here in new york city. It is 7 00 in the morning california and the markets are up. That is the high of the day. The dow is up 285 points as we speak. 27,700. We got a positive read on jobs. 749 new private sector jobs created last month. 740,000. Contraction of annual crate gdp q2, 34. 7 . That is awful. We knew it was colling. Drop in Mortgage Applications down 4 from last week. Application toes buy a home down 2 from the week before. Right now another real estate marker for you, pending home sales. I waited a minute to see if we get the numbers. Ashley, do we have the number. Ashley you did the tap answering for me, stuart varney, very kind. Month over month august pending home sales up 8. 8 . We were looking for a little more than 3 . This i believe is hitting a record high. Dont forget in july we hit a level not seen since july of 2005, 15 years. This is very much a forwardlooking indicator because it is based on signed contracts. It is a positive number. The Housing Market continues to strife forward. Record low Interest Rates are helping this is a very positive sign for the economy, stuart. Stuart you got that right. A positive sign. Looking forward. You made that point well. Look what happened. The dow is up nearly 300 points. It did indeed got nice lift when strong pending home Sales Numbers were released. Nasdaq up 100. S p up 27. The dow up close to a 300 point gain. Now this. If you didnt watch the debate itself you have probably seen the highlights, constant interruptions. Frequent insults. It was a brawl. It wasnt pretty. It was tough to watch no matter which side youre on. Four years ago when candidate trump burst on the seen with his hash attacking style. It was entertaining watchable, it was successful. It was new. We hadnt seen anything like that before. Last night he repeated the 2016 strategy, joe guiden did in kind, adopted the trumps approach, called president a clown, racist, liar, the worst american president ever. It was shouting maam. The president raised very important questions, would biden pack the Supreme Court . Does he have any Law Enforcement support . Why are you in lockstep with the socialist bernie sanders. There were no answers. Biden said shut up, man. Maybe biden scored points. After the question, who won in my opinion . I say nobody. You can say biden won went through 90 minutes without a serious gaffe or senior moment. That is not. Of a win. You can say trump won getting addressing key issues of the day and not getting a straight answer. You can say nobody won and america lost. Liz peek is with us. It was very hard to watch. I dont think there was any real winner, what do you say . I totally agree with you stuart. I thought it was cringeworthy the entire thing. I think youre right, voters are ones who lost. I was particularly disappointed that President Trump failed to make a case for his reelection. That was sort of the essential ingredients in this debate from his point of view. He needed to go there to remind voters of incredible number of achievements his first 3 1 2 years. Particularly when the issue of race came up, and racial divides trump should have gone into what he has done for africanamericans. Record low unemployment. Tremendous Job Opportunities foreeven people without High School Degrees and exfelons. Permanent funding support for the historically black colleges and universities. Passing criminal justice reform, all issues that africanamericans are very keen on and by the way, school choice, which biden has no answer for and is opposed to. The second thing that disappointed me was trump is very like ann. We have seen him really woo crowds, bring them over to his side by being humorous, selfdeprecating, believe it or not and generally charming and there was none of that on the stage last night. For those independents waivering who they might vote for, they kind of were looking for somebody to like and frankly i dont think either candidate came across as likeable. Stuart so we got another debate coming up on october the 15th. The one after that is october the 22nd. You would tell mr. Trump, get back your sense of humor, stress what youve done right about the economy and hammer biden on his weak points, is that how you would recommend the president comport himself next time around . I totally agree. And frankly lets face it he needs to prepare more. Biden came in with set talking points, rehearsed comments we heard over and over again but it came across as cogent and fact based, even though most of them really arent fact based. Trump needs to do the same, he needs to have actual information and data to back up accomplishments. Here is the frustrating thing, stuart. He has got them. He has done an amazing job. For biden to say under trump we lost manufacturing jobs, no it is not true. Obama lost 500,000 i think the number was over his eight years. Trump brought back 400,000 jobs in the manufacturing sector. Little data points like that really tell a strong story. That is what he needs to do. Stuart got it. Well look for that october 15th. October 22nd. Liz peek thank you very much indeed. Get back to your money. My goodness me that is a rally and 1 2. 29 of the dow 30 are up. Only disney is down. 366 points, i will call that a rally. Susan that is a rally. A total reversal what we saw after the debate yesterday. You saw futures dip 300 points. Stuart you have 600 plus point turnaround. That is a enormous swing. Mark tepper is with us. Mark, what is the reason for this rally this morning after the drop after the debate last night . Stu, this is impressive, right . The markets wants less uncertainty and more clarity. My opinion we got neither of those after last nights debate. What we did get this morning is we got news from secretary mnuchin that they may try to push forward another stimulus package. That is a positive for the market. Look, the debate, it really didnt give us a clear winner, right . When you dont have a clear winner, when it was more after draw, the markets is just not going to react postively. It is today. Im very impressioned what is having right now. Stuart there is good economic numbers. A talk about compromise on the stimulus plan. That is all positive. Youre right the market is up 360. Mark, i want to talk to you about palantir, supposed to start trading today. I read your stuff. You think it will likely double today. Make your case, young man. Maybe triple, stu. Surprise, surprise weigh have another data coming to market. It is rated 10 times sales. It might be 30 times sales at the end of the day. Everyone wants to own data and the cloud right now. Palantir is a data Company Associated with the government. You get high beta with data and data revenues associated with government. Our would be plunge, 12 time sales. I think it is more valued. Stuart is Data Analytics the big new industry . It is. If you think about it, every big companys best asset is data. You dont is salespeople knocking doortodoor. You have to take the data you already have. You have to figure out how to make it useful and figure out how to make money off it. Data analyticses is where it is at. Stuart what do they do with the data . They mine it. What does palantir do, you mine it, analyze it, then what . All about making it as useful as possible so businesses can make Intelligent Decisions whether it is hiring new employees. Whether it is remarketing prospects that fell out of your pipeline. It is all about making smarter business decisions. Look at the end of the day that is what every Single Company has to do in order for them to be as profitable as possible. Stuart fascinating, absolutely fascinating. And brand new. I cant get enough of it, even though i have not yet invested in it. Mark tepper, thank you very much indeed. Thanks, stu. Stuart we have individual stocks. Got to look at them. Disney, is the only loser of the dow 30. As you know theyre laying off 28,000 full and parttime workers. Theyre trying to save cash following virus closures of their theme parks or at least one of them. Disney is at 125. Down a fraction but down in otherwise up market. Uber and lyft both higher. Starting in january they will have to pay a minimum wage of 16 bucks an hour to drivers in seattle. The city council there, all socialists, most of them, unanimously approved the measure. But it is not hurting the stocks. Check on the s p, nice gain there nearly 1 higher. Jpmorgan came out with a rosy forecast for the s p. Lauren, what is the forecast . Lauren the forecast is a growth of ten or a 3751 one year from today. Okay, why . Bullish on technology and health care yes, i think a lot of people would agree on that but this idea of broadening of the rally to cyclicals, namely industrials and construction materials. Jpmorgan look, so many analysts i have recently spoken to echoed the same exact point. Industrials will benefit from the mick recovery and any infrastructure package that comes out of the white house, whether it is a biden or trump white house. Stuart thank you very much, lauren. Markets are apt, if i use the word soaring i think that is accurate. The dow is up 360. Susan i would call it a rally. Stuart it was housing that helped. What i think, susan, what i think is really going on here secretary mnuchin is saying we might be close to a stimulus deal. Susan compromise. Stuart compromise. Pelosi says she is hopeful. I think that is behind the rally. Susan i think you have a lot of positive data this morning as well. Not only pending home sales at a record high, mind you, you have surge comes to manufacturing, chicago pmi. The adp came out stronger than anticipated as well. Stuart i thought we would talk about the debate reaction on the market. Were not. Susan thank goodness. Stuart up 360 for the dow industrials. Turns out the obama team knew hillary was trying to link donald trump to russian meddling. You will hear what lou dobbs says about that next hour. He follows this closely. How does the president feel about his performance last night . I will ask press secretary kayleigh mcenany. Shes next. This is the feeling of total protection now that we protect your identity, mobile phone, auto, home and life youve never been in better hands allstate click or call for a quote today 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. 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Well, that investment can give you taxfree cash just when you need it. Learn how homeowners are strategically using a reverse Mortgage Loan to cover expenses, pay for healthcare, preserve your portfolio, and so much more. 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 you know, i think im on solid ground calling this a rally, yes i am. The dow is up 350 and the nasdaq is up 108. Susan whats secretary mnuchin saying about the stimulus because i think that is part of this rally . Susan absolutely, Steve Mnuchin says well have a serious try trying to get some compromise between democrats and republicans on a stimulus bill saying there is reasonable compromise here. It may not be 2. 2 trillion as what nancy pelosi and the democrats want. Will it be 600 billion, which is a skinny bill the republicans try to push through . At least its something. Stuart at least its something. They are hopeful. Pelosi is hopeful. Mnuchin says there might be a compromise bargain. The market wants another trillion or two. Susan not bad. Stuart chucked into the economy, wouldnt hurt, would it . Dow up 360. Nasdaq up 116. This is not a rally that is confined to one or two particular sectors, far from it. This is across the board rally. Can we put up the dow 30 again . Can we get that board up there . Because that tells a story. There are 30 stocks in the Dow Jones Industrial average and at last count i saw 29 of them on the upside. Say again the only loser there is walt disney and that is not down very much. Susan stocks sensitive to economic recovery gain as well. Talking about the airlines, banks, cruise operators, those are ones leading market rally. American airlines, morgan stanley, citigroup, Norwegian Cruise Lines. Stuart in the stimulus there might be money for airlines. This recovery is going nice and strong, folks. Good numbers on jobs. Excellent numbers from the real estate market. Pending home sales. Susan record numb. Stuart record numbers across the board. The market is reacting because strong real estate, Strong Economy generally and the possibility of some kind of a stimulus plan that chucks a bunch more money into the economy. They love it all. Anything else . Susan were final day of trade on september which will finally be the first month of declines since march, or september in nine, 10 years. Stuart that too is important. Thank you, susan. All right, everyone, listen to this. The most chaotic president ial debate i have ever seen. This was a hot mess inside of a Dumpster Fire inside a train wreck. That was the worst debate i have ever seen. That was a [bleep] show. This felt like an assault, a assault on our senses. Felt like an assault on our president ial campaign process. I think this was about trump saying this process is illegitimate. Weve got two minutes . Forget that. Im talking over you. A friend of mine daughter burst into tears has to run to bed because she was so appalled. Stuart i think that is, i do think that is going to rather extreme quite frankly. Kaleigh mcenany, with me, President Trumps press secretary. Kayleigh you saw the president off he walked off the set last night. You were there. Did he think, did he tell you right after he walked off the set that he thinks he won the debate . Does he think that . Yes he does. He was in very good spirit. He brought the fight that i think the American People wanted to see. The American People wanted to see the president question joe biden in a way that the media never does. He gets a pass. Youve seen those softball questions. President trump took on the role of both the media what they should be doing, a candidate sharing his record with the American People. Stuart however his style, the frequent interruptions, insults came from biden but frequent interruptions, talking over everybody that was a lot from President Trump and i think that is what the audience didnt like and will turn off. Do you, would he change his style for october 15th, the next debate . One thing i will note the next debate is much different format. It is a town hall. He will be talking to voters. By nature it will be a different format. A different tactic. But what i will say is this, offense style of the president got the former Vice President on the record with no answer to, have Single Police organization endorsed you . Will you condemn antifa . Are you going to pack the Supreme Court. Because the president was on offense the American Voter left that debate with a distinct answer and look at this vicepresident ial candidate or former president ial candidate they had not had previously. Stuart there is not many people left undecided in the middle. Do you really think you converted any of them to the trump side last night . I think voters asked themselves this, who do i want sitting across from president xi of china . Who do i think will be the best leader of this country, ready to take the fight to World Leaders . Standing up and aggressively advocating American Worker for factories as they come under three during the Obamabiden Administration as manufacturing jobs dwindled. Who will stand up for my jobe, my count, the best interest of the American People, and i think there is very clear answer to that last night. Stuart here is another one, kayleigh, you want a criminal investigation into the New York Times story on the tax returns. Make your criminal case . That is up to the doj if they open with an investigation. Were very concerned that the private documents of the president of the United States or any american are leaked to a media outlet which then publishes the information on the front page. We know by the way the New York Times published classified intelligence when they talked about the afghan bounties that was unverified intelligence. Of course blasted across the pages of the New York Times. These things are serious. We know the irwas used to target tea party groups. It is very important that we do not weaponize parts of the government against american citizens or against the president of the United States. Stuart let me go back to joe biden what is your response to this . Biden won simply because he got through the whole 90 minutes, no gaffe, no senior moments, no lack of focus, and reasonable amount of energy all the way through, therefore he survived, he won . What do you say . I think no gaffs, that is really subjective interpretation. I would consider it a pretty big gaffe asked about antifa, an organization killed americans and targeted Police Officers there is no condemnation of that group. I consider that a pretty big gaffe along with many others. Look the media was dying to write the headline this morning joe biden prevails, joe biden exceeds expectation. Notably you dont see the headlines. Instead youre seeing the question should there be two other debates. That is a question a loser asks, not someone who thinks they won the debates. Stuart i know youre busy. Kayleigh mcenany thanks for making time to come on the show. Thank you, stuart. Stuart sure thing. Got to look at the market again. Not quite the high of the day but awfully close. Were up 375 points. Thats a rally and 1 2. The nasdaq has gone up some more. Youre up 130. That is better than 1. 1 . Can you show me alibaba, please. My little phone here says it is going straight up. Yes it is, up 4. 7 . 13 higher. Susan likes percentage terms. It is up 4. 7 . Whats the news. Susan its Cloud Business will be profitable in the next few months and for the entire business year, according to alibaba. Cloud computing seen very critical to alibabas future from the ceo as well this is surprising. Alibaba is the fourth biggest cloud provider in the world. Behind microsoft and google. Second in asiapacific behind amazon. You can mention if amazon and cloud is single biggest cloud attributed ever contributor for amazon it will be the same for alibaba. Stuart that is a big gain, 5 , that is a rally and a 1 2. Senator Elizabeth Warren calling trumps nomination of Amy Coney Barrett an illegitimate power grab. We have one of Coney Barretts former clerks. I will ask him what he thinks about that. Still a big show ahead. Well keep on telling you, martha maccallum, bret baier, lou dobbs, all on tap later on in the show. We made usaa insurance for members like martin. An air force veteran made of doing whats right, not whats easy. So when a hailstorm hit, usaa reached out before he could even inspect the damage. Thats how you do it right. Usaa insurance is made just the way martins family needs it with hasslefree claims, he got paid before his neighbor even got started. Because doing right by our members, thats whats right. Usaa. What youre made of, were made for. Usaa stuart its a rally, a sea of green, up 360 for the dow, 130 for the nasdaq. 34. 9 for the s p. Yeah, that is a rally. Going to update the vaccine situation. Some positive developments here. Moderna, releasing promising results from their fades one trial. They say their drug is working well with older adults and theyre now in the final stage of testing. Moderna is up 3 . Regeneron they say their antibody treatment has been successful reducing Recovery Time in patients who are not hospitalized. That stock down 2 1 2 . A mixed bag there. The cruise lines, they usually react very favorly to any positive vaccine developments. There you go, carnival up 3 , Norwegian Cruise Line up 6 . Next, job cuts big on the horizon for shell is this because of weak oil demand and weak susan it is a tough, tough year for oil prices including a historic negative drop for oil during the depths of coindividual. Energy giant shell talks about a tough quarter for the company. They have written down some of their assets. They had to cut the dividend the First Time Since world war ii. This does include job cuts, seven to 9,000 from more than 80,000 workforce. The planned job cuts follows up on similar cuts of bp, chevron, rein in costs amid the pandemic. Theyre also focusing on what they call high value resources like lng as you mentioned. Highest value of oil, low Carbon Energy businesses. Stuart got it. On the flipside, you have duke energy. That stock is up 6 . Thats because they have rejecterred a takeover from nextera. I think next era it might be probably called. Duke up the price of oil. Duke didnt like the takeover price. That is why it is up. That is the point here. Big moment, 10 31 eastern time. Well find out oil we have use, how much we put into storage. This is apparently important for oil. Ashley, you got a number . Ashley it its indeed. Lets not understate it. It is a big deal. A drawdown of two million barrels. We were expecting a build of 1 1 2 million. We get from that, were using more oil than we thought we were, although the price of crude, certainly west texas, been languishing under 40 bucks a barrel for quite some time now. There you see it going up slightly today, half a percent. But were using more than expected. That is the bottom line. Stuart at least last week we were. It goes up and down all over the place this thing. Thanks, ash. Next, judge Amy Coney Barrett is meeting with senators this week before her confirmation vote. But, meeting with senator Elizabeth Warren, no, that is not going to happen. Here is a warren tweet. I think a tweet as opposed to a quote. Here is what she is saying. She is an extreme it who was picked to overturn row v wade, rubberstamp trumps attacks on immigrants, strip away Voting Rights and complete decades long assault on the judiciary by billionaires. I dont think she likes the judge. Guy and corporations, it goes on. And giant corporations to tilt the courts in their favor. We need to treat this nomination like the illegitimate power grab it is. Strong words. Mike headman, a former clerk of Amy Coney Barrett. All right, mike, an illegitimate power grab. Deal with that for us, will you . Well i can tell you if they were to meet with judge barrett what they would find is eminently qualified, incredibly principled and truly humble and kind person. You know its hard to imagine a better choice for the court. She is truly the best person. Stuart i guess some democrats dont want to meet with her because, maybe they could be persuaded that shes okay. Is there a chance of that . I think if you look at everyone that is endorsed her so far, if you look at letters of support people sent in, unanimous support from the notre dame faculty, unanimous support for everyone clerks with her on the Supreme Court, everyone on the left, everyone on the right, everyone that knows her loves. Here. That is what they would see. Stuart the court is about to deal with the constitutionality of obamacare. We hear judge Amy Coney Barrett has previously suggested and ruled and written that obamacare is not constitutional. Do you know that for a fact . She has not done that for a fact. She absolutely not spoken to this case. She has not prejudged it in any way. This is, her whole judicial philosophy exactly what you would want. She will take every case as it comes, prejudging nothing. She will look to the briefs, to the arguments and truly consider what the law is and apply that law as written. Stuart would she bring her religious principles and beliefs into any legal argument . Absolutely not. She has been perfectly clear on this, crystal clear, time and time again, from her very earliest scholarship to the seventh circuit confirmation and beyond, her personal believes whatever they may have no place in her job whatsoever as a judge. Stuart senator feinstein said the dogma lives within you. Im not, i think there is adjective there as well, but the dogma lives within you. What is your response to that . I think my response is the countrys response. We saw that question. We saw judge barrett handle it with unbelievable grace and tact. We saw her say, i will be a judges judge. I will decide cases on the law. My job is not to make the law, not to enforce my beliefs but to enforce, apply whatever law congress or the founders have laid down. I think the country responded to judge barrett very well. I think, in years since then weve seen overwhelming support for the judge. Really that was an attack that just showed us how capable and how competent judge barrett is under fire. Stuart sir, thanks for joining us this morning. Were glad youre adding to this debate. Well hear a lot about it in the very near future. Mike hechtman, thanks for join us. See you again sir. We have news on facebook and instagram. Lets see what facebook, instagram as well. What have you got . Susan Cross Platform messaging to much to teach stu about social media. Can message across facebook apps when it comes to the particular ones. If youre on instagram, you can message someone in messenger which is on facebook as you know. The biggest step facebook has taken to fulfill Mark Zuckerbergs vision. He wants to integrate all the facebook platforms in the future. It is a big deal when facebook has 3 billion people around the world. That is close to half the entire planets population visiting one of their outlets each month. Stuart what does that mean, integrate all the apps what does that mean . Susan think of the future. This is one step forward in the voice vision of zach sarks the think of oculus, facebook, instagram, and whatsapp. Think how much use these four . A lot. Susan facebook can make by buying and selling bank in the future . Stuart a lot. That is the story. Susan that is the story. Stuart we have something called friday feedback on this show. I suspect we will get feedback about your comments on me and social media and age. Susan really . Not the reverse . Maybe . Stuart still ahead, social media. On the fire right from the beginning of let me rephrase that. Social media on fire right from the start of the debate last night. Fox News Headlines Carley Shimkus. She is all over this. She knows a lot about social media. She should. She is young. Shes here next. Stuart looks to me like the high of the day, pretty close. Youre up 385 for the dow, 133 for the nasdaq. Very solid economic numbers this morning. We got maybe a compromise deal on the stimulus plan coming up. That is just a maybe but the market likes it. Lets get back to the debate. How did social media respond to this whole thing . Fox News Headlines 24 7 reporter Carley Shimkus is with us. Carley, start with alexandria ocasiocortez. She was tweeting last night. What is she saying . She was. One of the key policy moments, stuart, when joe biden flatout rejected the green new deal. That is not breaking news in and of itself, he released his own climate plan, but the fact that President Trump forced him to say it out loud in the debate, separate from very enthusiastic wing of the party, that is not a place where joe biden really wants to be. So the question what are progressives saying about this, luckily for biden, aoc appears to be taking it in stride, she posted a tweet, our differences why i joined bidens Unity Task Force to settle our difference and figure out a plan to address the planetary crisis as we speak. Trump doesnt feel Climate Change is real. That is like picking less of two evils for them. Stuart i understand there is already a biden shut up, man, tshirt. Youre right. Before viewers could figure out what the heck happened with the behavior last night, the Biden Campaign already profiting off the mudslinging, selling will you shut up, man, tshirt. One of bidens key zingers last night. Bernie, i wrote the damn bill bumper sticker. Kamala harris, that little girl was me tshirts. That is cheesy side of debating, selling of the slogans, stuff like that, anything to make a buck, right, stuart . Stuart you got the right person to ask that question. What are people saying about Chris Wallace. Yeah. It was a tough place to be, absolutely. I feel like the candidates behavior was sort of a live reenactment of a social media comment section. I saw one tweet that summed it up so perfectly. This person said the winner of this debate is Chris Wallace for not flipping the desk and walking out. There were interruptions there were insults. The only thing missing was a desk flip. Maybe well get that next debate. Stuart maybe. All right. Thanks, carley, good stuff indeed. Glad youre checking that for us. Thanks. Come in be aalso, because i understand, we covered this, people were bets on the debate last night. What were they betting on . Stuart they were. Who knows, they could have bet on a desk flip from Chris Wallace. That would have been something, because First Time Ever, both vandal, draftkings offered what are called prop bets on the president ial debate. What are prop bets . They are wagers on specific events happening and not about the final outcome. Well bring up some examples on the screen for you. How about, how will the candidates greet each other . What issue will be the first topic . What color will trumps tie be . Will trump bring up sleepy joe. Will trump mention fake news . These are part of tournament prize pool. They cannot be bet on like nfl with coin toss. Groups mutt answer a group of 10 yes or no, multiple choice questions. The contestants at the end of the debate will split the prize. Fanduel had a 10,000dollar prize. Draftkings offered a 50,000dollar prize. That is a good money. Fox hat its own contest through the app fox bet 6. Super six that is. Which typically is used for Sports Betting but last night it allowed users to make predictions, such as, will joe biden say the word malarkey more than he mentions barack obama . Prize of 25,000 was split among winners on the fox app last night this has become, you know what, stu . Were old time brits. Brits will bet on anything. Stuart yes. Now coming to the United States. You can bet a snowflake will land on the london Weather Center on christmas day. That is always a big favorite bet. Stuart you can do under, over, on all kinds of things. Yes. Stuart i dont miss that, by the way. That is another story entirely. Now then, thanks, ash. Caesars is being bought by a big british bookie known as william hill. They are all over high street in britain. Bought. Susan only you would know that. Sports bet something hot industry. Draftkings up 450 . British better women hill buying caesars 3. 8 billion. Sports betting and online comb with the caesars brand. You have audience for william hill in the u. S. Joint venture will own 10 of a 8 billiondollar betting market by 2025. Second behind, third behind draft wings will be second. They will have 20 of the market. Flutter entertainment which should have a quarter of the market, can you believe that . Sports betting will grow seven times in half a decade. Stuart everybody wants a piece of Sports Betting because it is exploding. New high for the day. Dow is up 411 points as we speak. Positive thinking about maybe a stimulus deal. Very good economic numbers. Youre up 413, 1 1 2 . 27,800. Thats a rally. It has been revealed, now we know, obamas team knew that hillary was trying to link President Trump to russian meddling. Lou dobbs, he has been following this throughout and he is on the show coming up. First though, look at that market, up 421 now and climbing. More varney after this. I had saved up some money and then found the home of my dreams. But my home of my dreams needed some work sofi was the first lender that even offered a personal loan. I didnt even know that was an option. The personal loan let us renovate our Single Family house into a multiunit home. And i get to live in this Beautiful House with this beautiful kitchen and its all thanks to sofi. Stuart yes it is a rally not quite the high of the day but well take a plus 400 on the dow and a plus 124 on the nasdaq. Good economic numbers. Talk of a compromise deal on stimulus. That will do it. Dow is up 400. Its a historic day at the New York Stock Exchange, oh, yes it is, two direct listings going on the same day, palantir and owe sauna. The first direct listing since slack and spotify. Look who is here, stacy cunningham, New York Stock Exchange president. Stacy, it is rare to get two direct listings on the same day. You have a lot of traders at home because of the virus. How is your Exchange Going to ensure an orderly open and orderly trading session. Stu this is not new for us. The process for direct list Something Like the process for ipos or any other opening for that matter. September has been the busiest month for ipos on record in the New York Stock Exchange history. Were ready, locked and loaded this morning. It is exciting not only have two direct listings, two ipos and two spacs going on the New York Stock Exchange today. Stuart do you have any problem with the ipos and spacs . Were getting used to them, gradually this year but any problems with them . No. The profile of companies has changed for the past several years. Companies are asking questions how they want to go public. Theyre looking differently than they have in the past. Theyre much larger companies. Raising capital is not necessarily their primary goal. What we do at the nyse we offer them a few different paths to public. They can choose an ipo if theyre looking for the more traditional process, infrastructure and control over their shareholder base. The spac, if theyre looking for more control over terms of the deal and valuation of the company at time of the listing. Or direct listing to limit the cost of capital and let the market price their company and market their company. Frankly companies are choosing the path related for them. Were seeing them choose differently. I dont think there will be a clear change how companies go public. They will make the right choice for them. Stuart seems to me youre offering them a chance for the original early investors to cash out. Thats the big attraction here. It seems to me . It is about democratization of access. Ipo it is artificially constrained in the allocation the night before as well lockups that follow on listing day. What the direct listing does, it puts everybody on a level playing field. Any investor can buy into the listing on its first trade on the first day. What we have seen to date in both spotify and slack, that opening process on the New York Stock Exchange, spotify and slack were both two of the largest opening trades in history of the u. S. Markets. They werent the two Largest Companies but their opening trades brought buyers and sellers together to determine the value of the company. Were waiting to see what it will look like this morning with palantir and a sauna, it is democratization of. Stuart are you close to first trade in palantir . These are more complex because there isnt an offering before. We take more time on price discovery. I expect there will be another hour. That is exciting innovation in the public markets. A lot of Companies Start innovate on not which path they choose but which elements of one of the three paths they want to retain as were starting to see. Stuart it is a whole new world. Stacy cunningham, New York Stock Exchange, thanks for joining us. Great. Thanks. Stuart get back to the overall market. You got a rally or anything to add on this one, susan . Susan the reference rates for asana and palantir. Palantir open 10 bucks, asana 20, probably much higher than that. Hopes of a second stimulus package. Stuart higher market it is. Coming up, lou dobbs, bret baier, martha mack mag all on the show. More on last nights debate. Questions that went unanswered. I will deal with that at the top of the next hour minutes from now. 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. Are you willing to tell the American People tonight whether or not you will support either ending the filibuster or packing whatever position i take on that, thatll become the issue. The fact that he will not answer about stacking the Supreme Court, we need to get to the bottom of that before this election is held. The American People deserve to know. I think investors certainly are disappointed, i know i was. I was hoping for some platform positioning so i could understand. I didnt get anything like that. President trump took on the role of both the media, what they should the be doing, and a candidate sharing his record with the American People. I thought it was cringeworthy, the entire thing. And i think youre right, the voters are the ones who lost. We handed him a booming economy. He blew it. Stuart a little freeze frame right there, but nonetheless, i think you get the point. Everybodys talking about it. It was a chaotic president ial debate that took place last night. In my opinion, there was no winner. Certainly no clearcut winner. Despite the chaos though, youve got a riproaring stock market rally going on right now. Look at this, youve got 360 up for the dow, 120 up for the dow industrials. Whats going on . Treasury secretary mnuchin says we might be close to a stimulus compromise. Speaker pelosi says shes hopeful of a stimulus deal, and weve got all kinds of very good and strong Economic News first thing this morning. The market likes it. Youre up 350. And now this joe biden said a few things last night that deserve more attention. Serious discussion was lost in the shouting match, but there were a few brief moments when we learned more about a biden presidency. He would shut down the economy, bring on a new lockdown if a second virus wave hit us. Really . Heaven knows what that would do to an already spiraling rate of depression and suicide, not to mention another economic disaster. Its a pity we didnt learn more about that. He would not answer the question about packing the Supreme Court. That means increasing the number of justices to insure a liberal majority forever. He was asked repeatedly about it. His refusal to answer speaks volumes. He knows that packing destroys the independence of the court. They know it but they wont admit it. Biden was completely wrong about the economy. He again said trump had created the current recession. That is nonsense. It was the virus and the lockdown that did it. And he ignored the stellar performance of the last three years the trump economy in the early part of his term. Biden said he didnt support the green new deal. Oh, watch out, joe. You just alienated the greens and aoc does sit on your with Climate Action committee. Lets see now, a new lockdown, packing the Supreme Court, the economy, the green new deal, when a biden would do in those areas is very important, but the shouting match obscured it all. And it left viewers, in my opinion, with a sour taste. Instead of enlightening us, the debate was shut down with insults and interruptions. We dont have the numbers yet, but my dollar says if there were 100 Million Viewers at the start, there were far fewer by the end. It was a turnoff. Thats my opinion. Martha maccallum was there. Shes the anchor and executive ed editor of the story, and she got a lot of air time last night surrounding that debate. Can i ask you this though, martha, is there anything that really surprised you in that debate . I think the tenor of the debate surprised all of us. I think we saw the president come out there last night sort of in the same vein that he took on the 17 other republican candidates back in 2016. Not walk out there as the incumbent president which is an enormously powerful position to be in and to sort of let a little bit of it come to you rather than, you know, engaging in a street fight which is what we saw last night. Now, i would also point out, just looking back at history and i think Everybody Needs to take a deep breath because this whole thing is a hong way from over we saw barack obama get sort of a rough night on his first president ial debate, george w. Bush had a similar experience. I think that sometimes president s come into it with this notion as we a heard the president say this week, look, im at it all the time. Im answering questions all the time from often hostile members of the press. [audio difficulty] different forum. And i i think he could have embraced his role and the job that he holds now a little bit more and had commanded a little bit of court there in the middle of that environment last night. But i think he you make a great you make a great point, stuart, about the response to the economy because that pricked up my ears as well. Democrats cant have it both ways. You know, as they say, you caused the resession that we all recession that we all understand that the impacts of this covid virus which has been devastating to the u. S. Economy based on the lockdown, but then they say there should have been more lockdown or things should have stayed locked down longer our more completely. You have to recognize, obviously, that that move is the reason we are in recession, and now a lot of the folks on wall street say were out of it. Stuart youre right about the economy, that was a glaring omission, frankly. How about the Supreme Court . He mr. Biden refused to say whether or not theyd a pack the Supreme Court. And he didnt want a vote on a nomination of Amy Coney Barrett before the election. He wants to wait until after the election. I think that would set up a constitutional crisis, because if youve got a disputed election and i think we will have a disputed election the Supreme Court might have to decide it, and they cant, they cant decide it 44. I think we really do need a Supreme Court justice sitting to take care of a disputed election. What say you . Well, of course, conservatives want that Supreme Court justice to be Amy Coney Barrett, democrats want to bait, they want to to wait, they want to get somebody who they think would be more beneficial to their perspective after the election. But if there is a 44 court in november, you know, postnovember 3rd, a lot of these disputes are going to get kicked back to the appeals courts where with youre going to have a mess of different decisions that are going to have to be reconciled with each other. The last thing the country needs is that kind of chaos given what weve been through already in 2020. Stuart do you think the next one, a town hall, will make a difference to the tenor and the tone of the debate . I do. I mean, just given the history of president ial debates, you get a different look, a different perspective, a different mood pretty much in all of them. I dont think that you can keep up the pitch of what we saw last night. Im pretty sure, you know, even though both sides say they won, theyre both going to kind of reevaluate the weak spots. Joe biden, it should be pointed out, he called the president a clown, the worst president ever, all kinds of names. There were errors on both sides, to be sure. Stuart thank you, martha thank you, stuart. Stuart you get more air time than i do [laughter] ill be watching you again, 7 00 tonight on the fox news channel, the story. Martha, thank you very much. Back to the markets, the rally holds. We were well above a 400 point gain, now were up 368. We will take it. Steve cortez, i know you, youre a former wall street trader. We were down, what, 300 points on the dow at the end of the debate, and now were up 375. Whats going on . Explain that, please. Right. This is well, theres a lot of volatility lately, obviously, and youre right, stuart, this is my second career. Donald trump dragged me into politics with him. Sometimes i miss the wall street world, but this is pretty exciting too. To get to your question about the markets, were getting good news, as you mentioned, out of washington, d. C. From mnuchin that capitol hill might be doing something reasonable in addressing the needs of people who are still out of work. But weve seen a lot of volatility in general. If i can put my market hat back on, theres been a lot of volatility in markets as you well know. Weve had an incredible run off the spring lows, but i think it a really involves around the indecision into the election. And this is the reality, unfortunately. The democrats in a lot of i key states, places like pennsylvania, are playing all kinds of games with the mechanism of voting in this country. We in the trump campaign, we are doing everything we can to reserve the integrity preserve the integrity of ballots, the count and also the expediency. This shouldnt take weeks and even months. Markets, i think, are quite likely getting worried about the potential for a highly contentious count. And to that point, you know, and you made this point as well, thats why its critical that we get that ninth justice on the Supreme Court in case it gets adjudicated to the highest court. Stuart i would really have liked to have heard more about the three years of the Trump Presidency and economy. Id like to have heard that spelled out more last night. And today youve got some really strong Economic News which implies a very Strong Economy as we come out of the virus lockdown. Id like to hear a lot more about that come october the 15th and the next, well, the next town hall debate, as it is. Well, stuart, given that town hall setting i do expect there will be more light and less heat in that setting, because youre going to have regular americans there, its not going to be three people only speaking on stage. And to your point though, particularly when the president s talking to regular americans, i think he can convincingly, persuasively make the case look at the economy i built in the first three years of my administration, look what it did for you. 2019, the large income gain year in American History by a mile. Not just past tense, look at what we are doing today. The American Economic renaissance thats unfolding right now, and its not my opinion or President Trumps opinion, thats what the hard data on the ground tell us, to your point. We get out a slew of data on almost a daily basis a that tells us this country is roaring back to life. The only thing that could squash that is joe biden because he would inflict 4 trillion in new taxes, and he would retreat to a place of economic submission to china. We cant let that happen, and i think that is the most persuasive Value Proposition for the president to make, and he can make it directly to real people on october 15th. Stuart not to mention another National Lockdown from joe biden if the Scientists Say go do it, mr. President. Steve, were out of time, but thanks for joining us. Im sure well be seeing a lot of you between now and november the 3rd. Thank you, steve. Tesla always in the news and definitely in the news today. The stock is up 2. 5 . Susan, whats the news . Well, the market has been about the Third Quarter delivery numbers, and we just got a headline that came through from electric reporting that tesla has hit record volumes as those quarterly estimates have continued to go higher from a lot of the investment banks and wall street. Its been pretty much priced in that tesla would report the highest number of car deliverlies from july to september in the companys history, and this is after delivering roughly 90,000 in the first two quarters of the year. If we get 140,000, that will be the highest every, more than the last three months of 2019 when they delivered 112,000. China, the rampup in delivery of model ys helping the numbers for q3. Still relatively short, though, of elon musks promise of getting to 500,000 car deliveries by the end of the year. The stock is up 400 or so. I want to throw in some headlines we just got from nikola. If you look at that stock today, were up close to double digits yeah, there we are, 7. 5 . The gm deal talks continue. Stuart it continues. All right, thats good. Nikola up 8, got it. Now, coming up, fox news special report bret baier, he was on the ground in cleveland, and hes on the show shortly. First, though, newlydeclassified information shows that in 2016 approved the Hillary Clinton approved the plan to create a russian scandal involving thencandidate donald trump. So what did the Obama Administration know and when did they know it . Oh, well deal with that next. So youre a small business, or 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. 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 try this for a headline the oba team knew that hillary was trying to link donald trump to russian meddling. They knew it. Lets not allow the debate to obscure this important story. There are handwritten notes from former cia director john brennan. They show Hillary Clinton approved a very underhand strategy. One of her Foreign Policy advisers was told to vilify trump and stir up the russian scandal. The handwritten notes were usedded by cia director to brief president obama himself. Heres lou dobbs. All right, lou, this is your story. It seems to me that those handwritten notes take the scandal all the way to president obama. Is that the first time weve seen that . Well, its not the first time, but certainly this is documentary evidence that would corroborate what is alleged here. And that is that Hillary Clinton put in motion the socalled russian collusion conspiracy that became obamagate. We also know contemporaneously with the january 5th, 2017, meeting amongst the president , Vice President joe biden and director comey that he was fully aware of what was going on he being the president of the United States was fully aware and was seeking out information on the investigation and its findings. So this is without question a blockbuster development. Youll notice that the leftwing media, stu, is not dealing with this at all. Stuart but is it too late this is, this is, if you will, this is the smoking gun, in my opinion. Stuart but, look, its four years now, its four years later, four years after what took place. Is it too late to affect the 2020 election . Right. Not at all. Senator ron johnson has said that for the attorney general for the u. S. Attorney, john durham, not to proceed with an interim report because of the election is in and of itself a political decision. And i think that senator johnson is absolutely correct. The American People deserve to know the truth. We need to understand why it was that with the fired former director of the fbi james comey before the Senate Judiciary committee this morning that we would learn why a criminal referral, if you will, to the fbi was met with crickets, no action at least of which anyone can find any evidence even though the Intelligence Community was turning over the Hillary Clinton russia collusion conspiracy that she wanted to carry out against President Trump to overwhelm the News Coverage of her, first, her private i email server, then missing 33,000 missing servers, and then the destruction by the Clinton Organization of various laptops, cell phones and very thoroughly, by the way, we might add. So thats where we are. And there is no excuse in the world for this attorney general not to be moving forward with an interim report to the American People. Stuart got it. Thanks to senator johnson, thanks to Sidney Powell and others for getting what they have to the public. Stuart i was watching your tweets last night as you were watching the debate. I was kind of tuning in to your tweets. You said that joe biden acted like al gore, and you went on to say that trump won the worst debate ever seen. [laughter] you want to add some comment to that . [laughter] well, i think that the president was i truly believe powerful. He made his points. But the failure to control the atmosphere, biden saying things like shut up, man, calling him, the president of the United States, a clown while he avoided answering substantive questions about hunter biden, about his, his entire tax program that as you know would be devastating to this economy. And unfortunate that that did not happen, but the president prevailed, as you would expect. By the way, telemundo said he won the debate by a margin of 66. Cspan said he won the debate amgamndgenndnten bnt a b br rg org o o o 6,5 , 2 2 for ben. Itit a a irempiv rivul rul rul f reissidentsidesihanha w w a diicffttt deb de,at a touou debade. Te stua rtanth fksor bringinring t out,ou l b,ause i,au i i h h noe ,ndndhatsha gdd s. Lou,lou,e w be be watchinou wt w it . S y, y l. 7 10 . 0 . 5 5 5 5 5 1 strt y y get getore a aim a a th i do,o, dobbs. Bs. Anks for taking some s of o my m air, why w not n see youyoooyoyo [laugh[laur]r]r]r] listenlisto this, thereaking nero sports, the steelers and titans postponing their game on sunday. Thats a big deal, ash. Yeah. This is coming from an espn reporter, now being reported by the tennessean, the newspaper in nashville. Apparently, a fourth titans player tested positive today for the coronavirus. That brings the number to four players and five staff on the titans entire roster and the organization. And now reportedly the nfl has decided to postpone the game. No word on when it may be replayed. Dont forget, the titans just played the vikings this past, this past sunday, and now the vikings are being told not to report to their, to their stadium for workouts. Everything is being done virtually. This is not a Good Development for the nfl that so far has managed to conduct itself without this kind of event. The last game, nfl game to be postponed was all the way back in 2017 thanks to Hurricane Irma that postponed the miami fam bay game. But this is not tampa bay game. This is not a good adopt, well continue to follow it. Stuart thank you very much, indeed. Can you sew me apple, please . I think the stock is up. Weve got news on tim cook and a stock package. It could be worth 114 million in stock grants, the first time the ceo, tim cook, has received a new stock grant in close to ten years since he took over in 2011 after the sad passing of steve jobs. So cook gets restricted stock, but it all depends on how apple performances, of course. Apple, talking about a 2 trillion market cap, first time a company on the planet has done that. If we can quickly bring up the statement from apple as board of directors, and its very rare to get this statement from the board, you know, i havent seen it in many, many years, for the first time in nearly a decade, we are awarding tim a new stock grant that will invest over time in recognition of his outstanding leadership with great optimism, they say, for apples future. Remember, cook has pledged to give away all of his money back in 2015. He only officially became a billionaire, according to bloomberg, this year, and most of the stock gains from apple have come under his tutelage and stewardship. In fact, the stock has Quinn Opportunity thinged since 2011 stuart he said hes going to give it all away . Yep, going to give it all away. Stuart okay. Youre going to do the same too. Stuart the producer is saying weve got to go. [laughter] all right, President Trump, joe biden go toe to toe on the economy. Watch this. Were reopening, and were doing record business, and he wants to close down he will shut it down again. He will destroy this country. We handed him a booming economy. He blew it. Stuart by the way, joe biden is laying out his plan to fix the economy, if he can fix it, on a train tour through two states today. Were live on the campaign trail for you next. I wanted more from my copd medicine thats why ive got the power of 1, 2, 3 medicines with trelegy. The only fdaapproved oncedaily 3in1 copd treatment. Trelegy the power of 1,2,3 trelegy 1,2,3 trelegy woman with trelegy and the power of 1, 2, 3, im breathing better. Trelegy works three ways to open airways, keep them open and reduce inflammation, for 24 hours of better breathing. Trelegy wont replace a rescue inhaler for sudden breathing problems. Trelegy is not for asthma. Tell your doctor if you have a heart condition or high Blood Pressure before taking it. Do not take trelegy more than prescribed. Trelegy may increase your risk of thrush, pneumonia, and osteoporosis. Call your doctor if worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain occur. Think your copd medicine is doing enough . Maybe you should think again. Ask your doctor about oncedaily trelegy and the power of 1, 2, 3. Trelegy, 1,2,3 woman save at trelegy. Com. I cant stop worrying. Why cant i sleep at night . How do i deal with all this stress . When did the world get so scary . Hello, this is michael youssef, there can be no doubt that our world is filled with troubles right now. And yet, there is one person who said, i can give you peace that can never be shaken even in the worst of your circumstances. Jesus is the way the truth and the only giver of eternal life and he is inviting you to come and surrender to him. And he will give you unbelievable peace, a peace that seems too good to be true, but its true. Will you come to him . calm inspirational music [female voice] are you looking for a peace that can withstand any hardship life can bring . Visit findingtruepeace. Com to find answers. Again, thats findingtruepeace. Com. calm inspirational music stuart all right. Look at this, that is a high for the day, up 451 for the dow industrials. Thats 1. 6 . The nasdaqs up 156 points. That is a very solid rally this morning. Ive got to tell you this, its happening right now, joe bidens taking a train tour. Hes going through ohio on his way to pennsylvania. Hillary vaughn is there. Why a train tour . Can you explain that one to me, hillary . Reporter well, stuart, biden spent most of his time commuting on an amtrak train almost every day when he served in the senate. So its a very nostalgic thing for bind, and it biden, and it played a pivotal role at key moments in his campaign. He took the amtrak train at the devastation when he announced he was running for delaware station, and hes taking it now to kick off one of the busiest days or the busiest day on the Campaign Tail he has had since the primary. Seven stops; two in ohio, five in pennsylvania along his amtrak train tour. He boarded the train just a few minutes ago, and were going to be following him along throughout this. But he did have two key points that he wanted to make before he got on the train to voters here in ohio. He wanted to drill down on trumps record over manufacturing in ohio, raising the point that two different Car Companies closed up factories here in lordstown, ohio, and saying that trump failed to deliver on that. But he also wanted to talk about President Trumps taxes a little bit more after he released his own tax returns yesterday. He doesnt pay his fair share in taxes. He says he that makes him smart. What does that do . What does that make you, make me and millions of other hard working american, decent people who pay our taxes . Are we the suckers . Reporter and, stuart, the point that trump made on stage last night to those similar attacks was that he was just taking advantage of a tax code that was written while biden served in the white house with obama for eight years. Stuart . Stuart taking quite a long trip today by train. Hillary, thanks very much, indeed. Lets get to the Supreme Court and the nominee, Amy Coney Barrett. She has been meeting with senators on capitol hill this week. Senator John Barrasso with us now, wyoming republican. Senator, Lindsey Graham says the senate committee, judiciary committee, could be ready for a confirmation vote by the end of october. But, sir, mr. Senator, what we really want is a Senate Confirmation vote before november the 3rd. Thats surely what weve got to aim for, right . Well, i agree with you, stuart. She is being very well received here by republicans on the hill. Everyone whos had a chance to meet her has just talked about how em e eminently qualified eminently qualified she is to serve on the Supreme Court. First in her law class at noter noter notre dame, clerked for justice scalia. Shes different than a lot of the members of the Supreme Court in important ways. Shed be the first one on the court thats not from either harvard or yale. She has lots to offer. And whats happening though, the democrats are attacking her personally, her family and her faith. Stuart yes, but dont we want a confirmation vote, have her seated on the Supreme Court before november the 3rd . Because the Supreme Court may be called upon to adjudicate the election, and if its 44 split, youve got a constitutional crisis. Can you get confirmation, seatedded on the court by november the 3rd . Can you do it . Youre absolutely right, stuart. You know, the democrats are going to throw everything including the kitchen sink at her and at the process to slow this down. Lindseys going to start the hearings in a week, were going to move ahead so that, hopefully, it will be reported out of the Committee Later this month with a vote in the senate later this month. But i know every tactic that the democrats are going to try, and theres probably some i dont know. But they are committed to stopping this incredibly strong nominee who was vetted just three years ago and got bipartisan support to the court on which she serves now. Im looking forward to the hearings, and im looking forward to supporting her preferably prior to the elections. Stuart preferably. Im not asking you to guarantee it [laughter] youre smiling, mr. Senator but i suspect you cant guarantee it. Its something you want but you cant guarantee it, am i right . Well, i think we all would like to get to that point. The democrats want her to never get confirmed. They have a list of over 20 things that they dont like about her. They dont like, they dont like her faith, weve seen that. They dont like her family, theyve been attacking her because shes adopted two children from haiti. They are going to come at her with guns blazing in just the week when the hearings begin and the questioning begins. The president has made a wonderful choice, someone who i believe is going to be on the court for all the right reasons. Shes there to apply the law, not legislate from the bench. The democrats are very clear on what they want. They want judges they want liberal judges who will make the law, not apply the law as written. They want activist judges. And the constitution, stuart, was written for certainty. It is a legal document not a living document. The democrats dont like it. And you saw last night in the debate joe biden was specifically asked will you try to stack the court, will you administer members to the add more members to the Supreme Court. Not only would he not answer, he even told President Trump to shut up. It was astonishing. The reason he wont answer it, because he knows the answer in his heart. Yes, theyre going to do something unpopular that most people in america will not like with his liberal, farleft base is demanding of him. Kamala harris wouldnt answer it last night on cnn. They know what theyre going to do if they get the senate, the house and the white house, and its a full drive to the left. Stuart i think youre right, mr. Senator. Thank you very much for joining us this morning. Always a pleasure. Thank you, sir. Thank you, stuart. Stuart im going to put American Airlines stock up on the screen. Its up 2. 5 , but most of the markets up about 2 . American is offering covid tests for some passengers. I think on some international flights. Straighten it out for me, lauren. Yeah. Well, they want to welcome back the International Tourist industry which is dead right now, stuart, so theyre going to test in miami starting next month for some passengers that are headed to jamaica and eventually expand to the bahamas and the caribbean. The point is make passengers feel safe on the plane that most people were tested dont have the virus, and also you can avoid that 14day quarantine when you land. The cost of confidence aint cheap. 80250 for the rapid test. And this isnt just what american would be charging, its across the Different Airlines that are starting to offer them. I was just taking a look at the leadership in the s p 500, the Airlines Just dropped out of it. Some travel stocks like the cruise lines are still in there though. The news that the airlines are waiting for comes from treasury secretary mnuchin. Hes urging the carriers to delay what could be 30,000 furloughs that could start at midnight tonight. Hutting the swing states hitting the swing states ahead of the elections is Speaker Pelosi and the airline ceos and the treasury secretary dont get onboard to give the airlines more money. Stuart gotcha. Thanks so much, lauren. Last nights debate, were going back to it, filled with insults and crosstalk. Just take a look at this. Im not going to answer the question why wouldnt you answer that question . The question is, the question is radical left will you shut up, man . You get the final word well, its hard to get any word in with this clown. Stuart oh, dear. I say all that fighting was a real turnoff for a lot of view ors. What does bret baier think about it . He joins me next. Keeping your oysters 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 claim your seventyfivedollar credit when you post your first job at indeed. Com promo stuart any moment now were expecting o get the first trade in palantir and the first trade in asana. Theyre brand not brand new companies, but theyre going public today. First chance to buy stock in them if you want to. The first trade should be coming up shortly. As soon as we get it, youll know. Some of these ipos, direct direct listing. Stuart direct listings which have been very popular recently. Got that. Now, i think the serious discussion in the debate last night, i think it was lost in a shouting match. The gentleman on the righthand side of your screen is bret baier. I wonder if he agrees with me. I think it was a real turnoff, bret, and you were sitting there commentating on it. What do you say . I totally agree, stuart. I think most of america felt like they lost. They were frustrated by the screaming back and forth. And, you know, most americans said they wanted more substance. There were points on both sides, but the president clearly went into that debate trying to get biden on his heels, trying to create a moment that really threw biden off. Biden didnt have one of those moments. He had some low points where he didnt answer whether he would pack the Supreme Court, a number of different things, but then the president had low points where he didnt push back on White Supremacists and call them out where his tone and tenor was really, kind of seemed off. I agree with you, people are frustrated by it. Stuart but maybe things change next time around, october 15th, where its a town hall format and the candidates, the president and the Vice President , theyll be asked questions by regular americans. That could change the whole tone of things. Yeah, definitely. I mean, when youre talking to voters and independent voters, its a different dynamic. President trump and not so much joe biden, he hasnt done too many of them, but President Trump has done a number of them where hes felt comfortable in that atmosphere. Listen, his job, stuart, was to change the dynamic of the race, change the trajection of where things were going, expand the base to independents and suburban women. If they thought last night was bad, i just dont think thats the case. Stuart you dont think the whomsoever is still in the middle, still undecided whether independents or other side, you dont think anybody was really moved last night to change side or moved to one side or the other . I mean, well see what the polls show, but i just dont think that that display and what we saw last night on either side moved the needle that much. There were points on both sides, but because of the tone and because of the yelling, a lot of it was, and i think it stays roughly where it is. Stuart i have not seen the numbers yet, but im assuming this if you got 100 Million Viewers right there at the start of everything, you did not have 100 Million Viewers at the end. Thats how big a turnoff it was. I bet youre right. I bet youre right, because at the end of it think about it, its 90 minutes, and it was constant. We were in the hall on the edge of our seats. But it was constant. And by the end of it, both martha and i came out and said we felt like we had been through something, you know . Like it was just a moment. Stuart is that what everybody wells was saying . Because there were a few people there in the hall and in the background. Was that the general consensus view . Dont want to do that again . All i know is that when i saw people walking out, they looked exhausted, and they were just sitting in their chairs. Stuart you know, im an early to bed kind of guy, but i got up specifically at 9 00 to start watching, and i did watch. But i couldnt take much more than 45 minutes. It was exhausting. It was just too much to take. It was just too i just did not like it. Last word to you, bret baier. Listen, theres a way to turn that around. There are two more times, and i think all this talk about the debates not Going Forward and theyre not going to do them is, is as joe biden would say, malarkey. I think theyre Going Forward. The next one will be in utah. The Vice President ial debate, itll have a completely different tone with Kamala Harris and mike pence. Stuart did you know that you could place a bet on the debate last night as to whether or not joe biden used the word malarkey and, if he did, how many times he would use it . Did you know that . [laughter] i didnt. Stu tooth well, you could. Hey, bret, well be watching tonight, special report, 6 p. M. Eastern on fox news channel. You must be exhausted, so thanks for being with us. Besides the debate, we got here. See you, stuart. Stuart you did. Thank you very much. Now this, joe bidens Campaign Says theyre seeing a fundraising boom after the debate. Give me the numbers, lauren. Can we go from exhaustion to enthusiasm, is the question, because the Biden Campaign said he raised the most for him in a single hour. It was 3. 8 million from 1011 00, right after the debate. The dnc also says it had its best hour, that was between 11 and midnight. Theyre not releasing an exact amount, nor is the trump campaign. So i go back to my original question. Neither debater was forward looking in anything that they said. Most people said they were confused and exhausted by it. But were some people enthusiastic . At least according to the totals that were given from biden. Stuart yeah. Good lord, what an extraordinary event last night was and, frankly, im glad its over. Lauren, thank you very much, indeed. Today new York City Restaurants can open for indoor dining. Okay, just 25 capacity allowed, but they are open for indoor eating. For a lot of people, 25 is just not enough. Well take you to a restaurant thats asking Luxury Brands for donations to try and stay afloat. How about that . Well be back. 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. 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 ive got a little nugget to addo the stock markets rally. Weve just taken another leg up. Why . Because we understand, weve got sources in d. C. Who are telling us that treasury secretary mnuchin is going to Speaker Pelosis office, and theyre going to talk. And that will those talks will be held at 12 45. All morning long we have been teased about the possibility, the likelihood of a stimulus deal. Theyre moving closer towards it, theyre talking, mnuchin, Speaker Pelosi, 12 45. And the dow is up 432 points. Now then, weve got, weve got palantir and asana, both were waiting for the first trade in both of those companies. Yeah. Stuart i want to go back to something that was said earlier about palantir. You know theyre data miners sophisticated. Stuart very sophisticated. Apparently, a corporation hired them to tell them whats the effect of the weather on their product. And i think their product was candy. Yeah. Stuart so, i mean, where on earth do you get that data from . They use a lot of artificial intelligence, finding Osama Bin Laden, sifting through lots of information in order to do that. Were waiting for palantir, and the reference rate they gave us was 7. 25, theyll probably trade closer to 10 a share which is the last time they were last valued in the private round of fundraising, so that should value the company roughly around 30 billion or so. But as you heard from stacey cunningham, president of the New York Stock Exchange, theyre very sophisticated compared to ipos youre trying to find price discovery. You dont actually have shares and youre not raising money, so you dont have a price to go off of. Stuart theres going to be enormous interest in this thing. Its another of these new companies coming to the market for the first time. Mark tepper, market watcher, earlier on this program said the stock could double or even triple. Close to ten times sales right now, about a 30 billion valuation, he thinks it could go to 30 times sales. Now, the other one is asana which set a reference rate last night of 21. Its a Software Management company and founded by the billionaire cofounder of facebook, dustin moskowitz. But again, 21 is a reference rate, and we know that you trade a lot higher than those reference rates when you finally open. Stuart this is a fascinating subject. One more little nugget, i find this interesting. The Hollywood Reporter is saying early ratings data for last night suggests viewership is, quote, well behind the record audience for the debate back in 2016. That was the first debate with hillary and trump in 2016, and it hit 84 Million Viewers. The Hollywood Reporter is suggesting that it wont be 84 million this time around, itll be less. Wow. Stuart you said i thought it would be over 100 million because there was so much hype and anticipation. Stuart ill be very surprised. I was really looking forward to that. Yes. Stuart everybody was onboard with this first debate. Trump and biden what cans going to happen. Ill whats going to happen. Ill be fascinated to see the final numbers. We havent got them yet, all weve got is the Hollywood Reporter report thereon. All right, more varney after this with the dow up 444. Stuart it is wednesday, but we would like to you remind you about friday feedback. Send your feedback to us. You can email us, you can go on our twitter or facebook pages. We want your questions. We really want your comment, okay . You might featured on friday feedback. It is last segment on friday morning before 12 noon. Look at this, nice rally. Up 400 points. You see what i do for you, neil . Its yours. Neil remind me to write you that thankyou letter. Thank you, stuart, thank you very much. We have a 450 point gain on the corner of wall and broad. This is an amazing turnaround or big change in these numbers, double, whatever, it will be a down september but it will be an up quarter, an up Third Quarter. So that for the Third Quarter, or this most recent quarter, that would be two backtoback quarterly gains for stocks. But what has got them lifting today, really very little to do with the debate last night. Talk about surreal, well get to that in a second, but everything to do with the progress on this coronavirus stimulus measure right now