Everybody assumed there was being going to be a blue wave that biden would win in a landslide nobody will be fired for that none of those articles were stopped from spreading and yet they did so this is important its a good way to look at any economy the empire wealthy families this is how they fall apart its not from outside this is why the Founding Fathers of america did warn that america will never be destroyed from outside it will be destroyed from inside because she is what always is the deadliest of all Human Emotions throughout history the thing that it obviates is the need for free market and competition because in a meritocracy or a capitalist democracy like the United States you have the ability for social mobility which is the antithesis of smugness in countries that legacy monarchy or aristocracy still in place smugness counts. Its only in countries in europe where we have lived for years we noticed that to be the case so it would be a tragedy if america went the way of a p
Crucial states. Markets are proceeding very cautiously. They are mixed at this hour after the dows 650point monday meltdown. We are only adding to that right now. Getting a little uncomfortably close to lows of the session. We are down 185. The low is a loss of 196 at the moment. You can see the s p is down seven but the nasdaq is holding on to some green here, up 50 points. No surprise, then, that megatech is powering the markets leaders. Could all that change tomorrow, when the top brass from facebook, twitter and google face the music in what is expected to be a contentious capitol hill hearing . Senator roger wicker is the chairman of the Senate Commerce committee. He will tell us what he needs to hear from Mark Zuckerberg, jack dorsey and sandar pichai. And breaking news out of tmobile. Forget telecom and 5g wars. Tmobile Just Launched a dual attack on cable and streaming leaders. Tmobiles ceo is here to unveil his brand new weaponry of offerings that has the stock moving higher a
If there is a change in administration after november 3 . Brendan thank you so much, peter, for having us on. There are five of us. We serve staggered terms. Every year, one member of the commission is up for renomination confirmation by the senate. And that process continues irrespective of the outcome of the election. For instance, my term runs through 2023. And i can hold over for a longer period of time and i will continue to serve regardless of the outcome of the election. Rep. Lee peter and with Michael Orielly not being renominated by the president , if there were a change in the administration, you and sherman pie would be the two chairman pie would be the two republicans, correct . Brendan thats right. Michael orielly has served for a long time. His term expired a year and a half ago. Were allowed to stay on until the end of this congress. When were in this situation, that will push his term will come to an end. Commissioner pye and myself will continue to serve. Peter now to
Bouncing back a little. Remember, please, this is how we started out monday. It ended badly. All right, walk into a super market just about anywhere in the world and several aisles will be dominated by proctor gamble. Here is the news. They are doing very well. Profit is up, revenue is up, outlook outbeat and p j, one more example of companies turning in Strong Financial results and the stock is up. On the campaign trail, joe biden stays home. No media appearances for 4 days. How convenient. Hes safe from pesty reporter questions and gaffes and fatigue. Hes preparing for thursdays debate and for the rules for that debate have changed. Theyll be a mute button to kill mike mic of candidate if he he running over time. So keeping it out of the debate is in my opinion a form of bias against trump. Another development, in pennsylvania, the Supreme Court says they can keep counting mailin ballots for 3 days after election day. That means the delayed result in a swing state, dispute guarantied
Volatility in the markets today, it could had into it during the election next week. Speaker nancy pelosi had a conversation with treasury secretary Steve Mnuchin late this afternoon. Well have more on what we know about that conversation here as we bring in our reporters. Fox Business Team coverage. Blake burman at the white house for us. Today were starting with Ashley Webster on the market selloff. Ashley . Ashley what a day it has been, connell. All sorts of skittishness and fear on wall street. Fear of a second wave in covid as weir seeing in europe. Fear of the unknown when it comes to the election just eight days away. Fear congress will be unable to finally agree on a stimulus bill. You put it all into the hat. This is what you get as a result. The dow off 650 points at the close. But was way down more than that. 950 at one stage. The s p down nearly 2 . The nasdaq also down about 1 1 2 . All 11 sectors on the s p 500 finishing down on the day led by energy, tech and industrial