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tv   Varney Company  FOX Business  October 2, 2015 9:00am-12:01pm EDT

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miss this cannot miss interview. joining charles on making money with charles payne at 6 p.m. eastern. we'll find out what trump says about creating jobs when he talks to charles tonight. i'll see you on sunday morning. and thank you for being with us. stu, you've got a lot right now, breaking news. stuart: thank you very much indeed. the news today is ugly. there is no sugar coating this. iran, syria, the shooter, and yes, our economy troubling news all across the board. good morning, everyone. let's get started. first off, iran has moved hundreds of troops into syria with russian air support. reuters reports they are preparing for a ground war to support the tyrant assad. the shooter in oregon shot nine and witnesses say he targeted christians. we will not use his name and make him famous. president obama angrily called
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for gun laws. and jobs report, america is not working, the participation rate down again. here comes more trouble, the treasury runs out of money about a month from now. ouch. "varney & company" is about to begin. ♪ >> tell you how it is. it was a lousy jobs report. 142,000 jobs added last month and that participation rate went down to a 38-year low. that has had an impact on the stock market already. we're 29 minutes from the opening bell and we expect the dow to open close to 200 points lower. market watcher dr barton right here to start our coverage. i say that's a lousy jobs report because it reflects very badly on the u.s. economy and you say what? >> i say it's tough to get a superlative bad notes for this jobs report.
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missed everywhere, you mentioned the participation rate was down lowest since 1977. we missed on average wages, down a penny, they were expecting two cents better. they had to scrub out 59,000 jobs from august and july numbers. we were down across the board. you said this isn't about the fed when we were talking about it and it's not because i don't give them that kind of prowess in forecasting, stuart, and this is just ugly and the markets are reflecting it. ashley: participation rate the lowest since october of 1977. stuart: that's a 38-year low. ashley: that gives you some perspective. stuart: here is my point, if we are slowing this economy and it looks to me like we are, if that's slowing down, what tools, what ammunition do we have to get it going again. maria: what have we got? can the fed lower interest rates more? no, they can't. print more money? probably not. is president obama going to give us a tax cut to juice up the private sector? out of the question. we've got no tools left. we're dangling in the wind here. ashley: i think that deflation
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is a big concern right now. i feel like we're getting into a quagmire here and there's no tools left in the fed's toolbox. stuart: one more point before we leave this jobs report. it's resulted in a sharp drop in the interest rates. on the 10-year treasury, 1.96%. let's move on, next case. hurricane joaquin, maybe an item of good news, i'm looking for it, boys. check out the picture by space from nasa. the latest forecast suggests it's tracking away from the east coast and won't make landfall. there's a risk of significant flooding, we are going to get a lot of rain, but the storm might go off to the east. now, the forecast track from the national hurricane center in miami, that's slightly different, calling for a category 4 storm to make a significant turn to the north sometime today. and completing its pass over the bahamas tonight. now, if that forecast holds, that puts the storm on a path that would keep it out to sea as it moves north along the atlantic seaboard, okay? that's what we're hoping for,
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we should put it like that. next, i'm going to call it the outrage in oregon. i think that's the accurate word. three witnesses said the gunman specifically targeted christians and an on-line account linked to the shooter expressed disdain for organized religion. ashley, that's what i want to focus on now. targeting christians, go. ashley: absolutely, one of the victims, wounded, survived, said that the gunman basically, as everyone was laying down on the floor in this classroom said anyone who is christian stand up. they did. as he was loading the gun he said good, because you're a christian, you're going to see your god in a second. a clear message. >> from a witness not just some tweet that appears. >>. ashley: someone who was shot and pretended to be dead and survived. stuart: and what about on-line. ashley: postings on-line, increasingly angry on christian religion.
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there's one particular website we'll talk about later in the show, basically if it is associated with him, 'cause it's an anonymous message board, basically told everyone what he was going to do. stuart: okay, now, that was yesterday morning and hours after the shooting, the president said this, roll tape. >> somehow this has become routine. the reporting is routine. my response here at this podium ends up being routine. the conversation in the aftermath of it, we've become numb to this. stuart: now, the president was obviously angry, he was frustrated in that speech and he called for new laws to control guns. tammy bruce, you're here, what's your take on this president's speech. >> the timing was extraordinary. the bodies weren't cold and we didn't have the details of the shooter. many of the victims, the number
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of victims, and he goes on national television. i found it ghoulish. it was clearly political. it was a remarkable statement when we didn't even know the frame work of what was occurring. the problem, also, with this where he always moves to his preferred narrative, is that it keeps us from addressing the real issues that are involved with these dynamics, issues of drug abuse, illegal drugs, pharmaceuticals, mental illness. and we do know if in fact if there had been armed security in many of the places of course, that's how you stop a shooter, you don't do it with mace. separate from that, that's where he wants to move the conversation when people are shocked and grieving. it's astounding, he does it all the time. yet for the 20 people killed in chicago, silence from him because there is gun control there and there's no political hay to make, it's horrible. stuart: the difference in tone on the president's statement after the shooting.
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he was vigorous, dynamic, passionate about it. ashley: i wish he'd show it on other issues, no prompter, speaking from the heart, timing was inappropriate, i agree with tammy, but at least he showed some passion about an issue. stuart: was na a distraction from earlier statements at the united nations with his meeting with putin and xi, a direct contrast how the president came across last night and how he came across yesterday morning. >> you have to wonder why is it so different and not get applied when kate stinly is murderedith ian rry,ith murds inew yk, ccago baimor whis iso scifilly diinctn a mentnd tk abt-- healkeabouvoti, he taed aut t n.r. astoshinwhenou'vgot young people killed that that's where his mind goes. it was remarkable. stuart: okay. stay there, tammy, because i think you want to comment on this next story, it's a bombshell, news from the middle east.
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iranian troops in syria, hundreds of them. teaming up with russia and going against the rebel groups in syria which we support. tell us about the background on this. where are we going with this? >> people seem to be shocked. i think it's pretty predictab predictable. you've got assad-- putin killing those against assad. and leave alone isis and prescripting troops. stuart: i did not know that. >> first reported by the daily mail in england. hundreds of iranians, keep in mind they were on the move apparently in order to be in syria now, they were on the move a week ago. stuart: that's right. >> we did not know that either. now you've got putin 150,000 clearly meaning to occupy a major region and that's on the way.
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stuart: can you see that happen, mass movement of russian troops, i understand it's speculation. >> anything can change, but when you look at the trajectory, no resistance from the west, expect him, of course, with iran to deal with assad's opposition. my column in the washington times, i would say they annex iraq, half for syria, half for iran and that's where part of the 150,000 russian troops will move. stuart: that's a bombshell. ashley: yes. stuart: by the way the price of gold is up 20 bucks an ounce. $20 an ounce maybe something to do with trouble in the oil patch. we'll see that later. wait for it, news of another hack, this one affecting t-mobile customers. lauren simonetti, you've got it in case we missed it. >> this is a hack attack that affected 15 million t-mobile customers who had credit through experian. it happened through september 2013 through the middle of last month and compromised personal
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data, names, addresses, birthdays and social security numbers. bank details were not taken. now, experian says the incident was isolated and offer affected customers, two years of free credit monitoring and identity protection, would you trust a company with that if they have just been hacked? and car sales rev up, so do prices, cars are up 660 a year says kelly blue book. it keeps that car makers are uniphau unphased. stuart: what's the number again? average price of cars. >> $34,000. stuart: do you know in the mid 1970's when i came here. ashley: 52 dollars. >> 15. stuart: way off, just over $3,000. just over $3,000. >> my first car was used a
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chevy, $500. my coffee machine costs more than that now. $500 for a chevy. >> the only thing americans are buying right now seems to be automobiles. it's the one bright spot. stuart: as of yesterday, sales, the selling rate annually 18.7 million vehicles, that's the best in ten years. >> yes. stuart: we're buying them regardless of the price. >> and there's a subprime bubble in the car area. watch for that. stuart: what kind of coffee machine costs $500. >> it's a coffee center and lasted a decade. no regrets, a fabulous machine. >> bring it in next time you're on, and brew us some. stuart: don't forget monday morning, 5:00 tune in to these ladies, nicole petallides and lauren simonetti, early, early
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show. >> thank you. stuart: troops in syria and talk about a ground war in the middle east. yes, there is such talk. governor john huntsman is next. (vo) what does the world run on? it runs on optimism. it's what sparks ideas. moves the world forward. invest with those who see the world as unstoppable. who have the curiosity to look beyond the expected and the conviction to be in it for the long term. oppenheimerfunds believes that's the right way to invest... ...in this big, bold, beautiful world. that's a good thing, eligible for medicare? but it doesn't cover everything.
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>> we had an extremely weak jobs report and look where the dow is going to open, down about 200 points. i should tell you, before that jobs report, the dow was going to open 100 points higher. now, it's 240 points lower. that is a big swing and it's because of the jobs report, which also influenced interest rates. the yield on the 10-year treasury is all the way down to 1.94%. that's 10 basis points down. that's a big deal in the bond market. all right, how about the price of gold, with all the trouble brewing in the middle east, yes, it's up. a $20 per ounce gain and 11:34 on gold right now. here is the news on the mideast. hundreds of iranian troops have
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arrived in syria just in the past ten days. hezbollah already there. talks of a major ground offensive. joining me now, former governor of utah, jon huntsman who has a lot of experience in foreign affairs. >> pleasure to be with you. stuart: i'm saying the arrival of hundreds of iranian troops in syria is a very big deal and changes the equation, are you with me on this? >> oh, i think it's a huge deal. it's particularly a huge deal with the united states lacking a strategy. we haven't had a strategy all along, four years in the civil war, you've got assad, who controls about 20% of this country. you've got a refugee problem, a region that's facing a huge crisis and we don't have a strategy and you've got a brilliant tactician named putin working with his allies in the region and doing something about it. there's a security vacuum in the region and it's filled by somebody else, it's a huge problem. stuart: it's now being reported that putin is mobilizing 150,0 150,000--
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conscripti conscripting, that's the right word, conscripting 150,000 troops. what are we going to see him do with those people. >> and maybe like in the ukraine. >> the russian troops, the new conscripts, some could end up in syria. that's extraordinary. i'm not dragging you into speculation, but-- >> let's see what happens and the u.s. response is. sadly, i'm not sure we'll have much of a response. if we don't deal with isis, number one, we have a huge problem. that should be priority number one. you've got to deal with assad and how to fill the leadership back in, something has to be done with isis, if it means a bolstered security presence in the region i think we'll look at longer term. i spent four tours in the asian pacific region and the security vacuum there has been filled by u.s. troops and been there
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since world war ii and they've been a very important presence in the region and i think this country needs to prepare our people, and the moms and dads of the boys and girls who serve in the armed forces for a long, drawnout presence in the middle east. not necessarily boots on the ground, but a strong security force in the region working with our allies in providing that security blanket. you were ambassador to china. >> yes. i want to talk to you about china. >> you lived in hong kong and your cantonese is pretty good. stuart: no, it's not, the compliment there. the china's leader xi just came to america and they had face-to-face talks and we found out we're running out of money, got to borrow some money, and we have to borrow from china and gives them more, am i linking too many dots? >> they want to place their money in our market, our market is the best in the world and sadly enough we're not fixing
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our other problems here domestically so we've got to go out for more. stuart: does it give them leverage? >> of course, it gives them leverage. i'm trying to think, stuart, in any negotiation they looked at us, by the way we own a lot of your debt like 1.4 trillion of your debt. and i never heard any of that. they want a secure u.s. economy, a stable economy and one that's growing. we wish us the best of success in that regard because that's better for them longer term. stuart: have you become a defender of the communist chinese party? >> i'm a realist, xi visits here and glowing reviews to the broadcast back home and got everything out of it he needed to get and we didn't get much of anything at all and i'm thinking that our strategy with china is kind of like this, it's a big misfire right now. we've got cyber issues. stuart: yes. >> particularly on i.d., that side costing us $300 billion a
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year based on a commission that i chaired with admiral denny blair a couple years ago. it's huge. it's robbing us of innovation to grow. the theft that occurs, we're not aware of that and moreover not doing anything about it. stuart: thank you for being with us on a big news day. >> thank you, stuart. stuart: oil, still hovering around $45 a barrel, but, 44.50 as of now, maybe that will change with the escalation of the mideast crisis and we'll see. on a totally lighter friday note, a new app coming out in november that lets you rate your friends and family and anybody can see your rating of your friends and family. ashley: oh. stuart: is that asking for trouble. ashley: yes. stuart: back in a moment.
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my company's entire network went dn, and i was home in bed, unaware. but that would never happen. comcast business monitors my company's network 24 hours a day and calls and e-mails me if something, like this scary storm, takes it offline. so i can rest easy. what. you don't have a desk bed? don't be left in the dark. get proactive alerts 24/7. comcast business. built for business. >> this is what happens when you get a lousy jobs report. the economy doesn't look good when you're not creating many new jobs and the market is down on the opening bell about five minutes from now. when you look at this, a new app is called peeble. p-e-e-b-l-e.
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>> it's like yelp for people. it lets you rate another person. tammy, i could get that app and rate you badly and everybody would see the bad rating. what do you think about this. >> which you wouldn't do because i deserve a high rating. it's like yelp and twitter had a baby, it codifies trolling. it makes it easier for abuse. young people are going to be hurt and i'll start up a point for you and of course rate you highly, but-- >> in all seriously when teenagers get a hold of this, they will be brutal with each other. ashley: you're ranked out of stars, anything two stars and below you're notified that you're getting a bad review. all anyone needs is your cell phone number and they can create a profile for you. if you're rated negatively, you've got 48 hours to respond to it and try to work it out, and it goes live. cyberbullying will go to a whole new level. stuart: it's awful and nothing you can do it about. ouch.
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thank you, everybody. that rotten jobs report is about to drop triple digits. we'll take you there.
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>> 20 seconds interest now that opening bell would have rung and we will start trading
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and i tell you that market is going to go down. and i keep using the word, we have a lousy jobs report. the participation rate way, way down, all over again. and that will be reflected on wall street as of this morning. in fact, as of right now. it's precisely 9:30 eastern time and we are headed south. the dow jones industrial average has opened down 42 points and it's going lower still. i'll repeat this. it was a rotten jobs report. 142,000 jobs added last month, the participation rate, that's the proportion of people actually working who could work, at a 38 year low. look at that, only 142,000 jobs. for analysis on the markets and the economy, ashley webster and cheryl casone here and dan, you first, i used the word lousy for the jobs report and you say what? there's that old phrase, lipstick on a pig. there's not enough lipstick in the cosmetic counter to dress
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this thing up. the previous two revisions, touting how strong the number was, the revisions made those look less desirable. this is not good on any measure. >> it's horrible, it's horrible. dan hit it, we took out 59,000 jobs from the two months before. we're 58,000 lower than we expected to be this quarter, the participation rate is the lowest, as we talked about the top of the hour since 1977. even average wages dropped by a penny instead of going up. >> you've got to love the market reaction to this report. look, at this point we're not going to raise rates until march of next year, let's be honest. stuart: i don't know that. i do not know that. >> that's what the fed speeches are telling us, waste happening in chicago, go to chicago, they're saying, the prediction is, it may not be this year now because of this jobs report, because of the revision and yet, the market still goes
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down, even though they're more than likely-- cheap money is going to continue until next year, it's his tear yal. stuar stuart:-- hysterical. stuart: can we roll that sound bite. earlier this morning, fox interviewed a fed governor and he said something about raising interest rates this year. roll that tape, please. >> i actually think it would be appropriate to start raising rates by the end of the year, if we continue to get positive data. stuart: pull that one back a minute. >> positive data. stuart: if we get positive data. we did not get. >> that interview was live on our era hour before the jobs report came out. ashley: he's a dove, too, a well-known dove and sounding more hokish, to cheryl's point, there's no way they're going to raise rates. stuart: that's your opinion. ashley: maybe december. >> remember, stuart's new job is going to be a fed watcher.
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>> he'll love that. stuart: look at this-- [buzzer] >> a bit late on that, but you got it. 216 points down for the dow industrial average after precisely three minutes' worth of business. that stock, we'll get to that in a second. i want to look at commodities, specifically oil. dan, the price of oil is down this morning, despite what's happening in the mideast, it's down. i suggest that's because the jobs number imply a weak u.s. economy where we'll be using less oil. what say you? >> absolutely. i think the whole driver in oil was going to be what is the economy going to do, and the world economies going to do. this put a damper on that. i think you'll see a drop toward that $40 level. i don't think it will go much lower. >> thank you, now that we've done stocks, we've done oil and i want to move on to gold. look at it, it's up today.
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it may be coming off the weekly loss this much. right now, it's up $21 per ounce. why? >> it was even down 10 this morning, stuart, before the number came out and jumped 30 bucks an ounce since that number came out. people do not like this number. there's a fear factor here. there's uncertainty, let's not say fear, there's uncertainty. gold is a place where people fly to for the first few days. people go out of the stock market and-- >> it doesn't last? >> i don't think it lasts. >> i think that gold reacts to inflation and we don't have inflation. ashley: a safe haven. stuart: and sprint cutting jobs, is that right. nicole: that's right, they're on a mission to cut 2 to 2 1/2 billion in costs and with that they're announcing they'll have job cuts here and those job
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cuts obviously will help. they employ about 31,000 people and in the meantime, their subscribers actually put them in fourth place behind even t-mobile, which has its own data breach issue for today. big picture, you're announcing the jobs cut and the stock is up fractionally at the moment, but a loser for the year and certainly well off its 52-week highs. >> got it, thank you very much indeed. massive data breach at the credit monitoring firm, that would be experian. affecting 15 million people who apply for t-mobile service. here is the stock of both of those companies, cheryl, tell us what's going on? >> well, the ceo of t-mobile, furious and he's all over twitter this morning. the people who handle credit checks, their server was hacked over two years, specifically with regards to t-mobile customers, we're just now finding out about it. it was everything, passports, driver's licenses, credit cards, i'm sorry. stuart: they put me through
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hell. i had to have a credit check done through experian and-- >> well, if you're a t-mobile customer, over the two years, in those two years, experian ran your data. stuart: let me get this straight, only if you're a t-mobile customer? >> yes. stuart: i am not. ashley: doesn't experian offer protection against hacking? isn't that a service that you can purchase? >> i think so. ashley: and how about that. stuart: believe me after getting certified by experian i had enough. you know they rang me in australia in the middle of the night to ask me a mundane question? anyway, i digress. [laughter] dr, you brought us two stocks this morning, one you like and one you don't like. start with mcdonald's because you like it. >> in this environment where we're having this turbulence, it's nice, if you have to put new money to work, it's nice to
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put it with some place with revenue foundation, they've been struggling, but steve has done a good job with the turn around. and they have the all day breakfast launching nationwide to trying to get the same-store sales number going up. and the marketing push. stuart: wait, wait, you would buy mcdonald's on the basis of all day breakfast starting next tuesday? >> no, sir, i'm going to say they'll allow them to pay me that 3 1/2 dividend. stuart: how about fedex. i don't think you look it? >> no, they're going the wrong way. when they did the earnings earlier in september, they guided lower in the year by 20 cents, by a big chunk. they're not going to get any more help from lower fuel costs, maybe a tiny bit, but they're staring down the barrel
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of a weak holiday christmas shopping season. many pundits saying the weakness since 2008 coming up for the retail season and lastly the big merger with tnt and europe, put the skids to it by the european union. they've got a lot of headwinds to listen to. >> i've listened to your bad news, i rather like fedex myself. we're down 220 points. we're eight minutes into the trading session. it's down 200 plus. now, if you want an apple tv, don't shop for it at amazon. now, what's this all about, cheryl? >> if you can't beat them, cut them off the knees and that's what amazon is doing to apple and google chrome cast. you can no longer buy an apple tv or chromecast on amazon. those two streaming devices. stuart: it's all about streaming. >> of course it's about streaming. number two and number four top selling devices on amazon is those two. amazon says, no, you cannot
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sell them here. stuart: streaming is king, why should you, amazon, promote the products of your streaming competitors and sell those products for your customers, so that they can stream on a different organization? >> this is bad for everybody. you know, because now on the-- if you've got the, on amazon prime you can bring in other streaming content. so why-- i've got more, watch this. the new apple 6--s switching off at random. ashley, what's that about? >> 6-s and 6-s plus, completely shuts down even if it's left unattended and there's plenty of battery power. now we're hearing reports the iphone 6 not the latest versions are doing the same thing. they believe they're tracing it back to ios 9 operating system the latest one and apple believes it's a glitch there. people reported when they try to turn it back on they're feeling the home button is
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getting warm, a little hot, interesting. it's a glitch. stuart: hold on. it's a glitch. ashley: an annoying one. >> also with 9-0 there was a way to hack in to data, getting siri getting photos and apple has fixed that so you can't use siri for-- >> you buy it at-- >> 108. stuart: you buy at 108. >> my number has been 104 for a long time. accumulate at 104. stuart: oh, investment banker speak. you'll buy it. as if weak growth wasn't bad enough, the government, yeah, it's running out of money again. less tax money coming in and more being spent. we've got about a month's worth of government money left. dan come on in, what do you
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think of the debt ceiling in washington? >> it's push off the problem till later, push off the problem till later. they're not addressing the real issue. we keep coming up with these things every month or two months. they've got to do something about it. they're not going to in this administration. i don't know what's going to happen. maybe kevin mccarthy is going to have success and boehner doesn't getting everything together. i'm highly doubtful. by the way, we run out of money around november the 5th, around there and on october the 28th, that will be one week in advance, there's the next republican debate. that would surely give the ted cruzes of this world a great deal of ammunition to go at, no, let's not raise the debt ceiling. let's live within our means. i can see a big fight coming, which would hurt the market? >> a big fight and to dan's point. we put the debt ceilings in that would be the cure-all. not a cure-all, but a back stop to say let's revisit this every
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once in a while and instead of revisiting it, kicking the can down the road like the monetary union people might have done. >> are you slapping the germans and the french with that. >> equal opportunity. check the big board, we're down 200 points and we were at 230 and now 2015, that's the latest count, here we go. hurricane joaquin seen here from space looks pretty bad. it looks big, i tell you that. it's going to barrel along. ashley: it's crawling at three miles per hour. for the poor folks in the caribbean and bahamas, this thing isn't going away. it's not getting out of the bahamas until tonight. stuart, remember we talked about the one model that said it wouldn't hit land in the east coast. the one model was right. the one model. everything else was wrong. stuart: conventional wisdom,
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weather forecasting wisdom-- stop it -- the wisdom is it misses direct hit on land and goes off to sea. by the way i'm talking to the generator people, that would be generac on what would be a quiet storm season. they must be disappointed. more varney in a moment. real. real. waiter. water. so why would you invest without checking brokercheck? check your broker with brokercheck. if legalzoom has your back.s, over the last 10 years we've helped one million business owners get started. visit legalzoom today for the legal help you need to start and run your business. legalzoom. legal help is here. the health care law gives us we're cracking down on medicare fraud. powerful tools to fight it. to investigate it. prosecute it. and stop criminals. our senior medicare patrol volunteers are teaching seniors across the country to stop, spot and report fraud.
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>> just joining us? here is the market news, we're down 200 points on the dow, that follows a very weak jobs report out earlier today. i want to get to hurricane joaquin. i repeat, it's not now expected to make landfall in the u.s. separately, generac makes generators and they sell big during times when the juice might go out at your house and hook who is here. the ceo of generac, aaron, welcome back to the program. good to see you. >> good morning, stuart. stuart: you're disappointed, aren't you? that hurricane might go off the east coast, you're going to
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lose a lot of business with this. >> well, obviously, we watch every major event like this with a lot of interest to see where it's going to land. it does produce business for us, we're there to get products in the hands of people when their power goes out. obviously, major events like this do cause, you know, a surge in business, but it's actually the everyday type of outages that happen around the u.s. that we depend on more. stuart: i bought a generac three years ago after one of the big stores, what i bought was peace of mind. i'm not trying to do a commercial for you, but that's what i got. i know if i go away sometime and there's a hurricane while i'm away, you know, the juice goes out. i'm in good shape. what i bought was peace of mind and that's actually what you're selling, isn't it? >> it is, we're almost selling a product like insurance to a degree. it protects your family and homes, and it's not only people like you, stuart, we're selling
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to businesses, to municipalities, to manufacturing plants, shopping malls. anywhere-- the grid in its entirety is in a shambles and it's much more vulnerable to these types of weather events as i said before the other events. stuart: your stock is down today because i suspect that's because the storm is going off to sea and not hitting landfall. it's not been a busy hurricane season. joaquin is the first big one and the season is over in november. >> right. stuart: it's not produced the kind of business you expected, i suspect? >> yes, the last three years have been quiet when it comes to events. but we've diversified the business nicely the last several years and we don't want to be dependent on storms. storms will always produce conversations about backup power and that's what we want to do is talk about the need to have it and the need to have the peace of mind that you talk about.
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stuart: now, last time i had you on the show, you said could you keep up with the order? heavy demand for your top of the line generators. i think you told me there was a delay. suppose i were to order another generac for my house, a big one, how long would i have to wait? >> you wouldn't have to wait long this time around, stuart. we've got generally everything delivering within a week or two of when you order it. >> thanks for joining us, we always appreciate it. okay. >> thanks, stuart. stuart: i want to check the market again, we've got an interesting market shaping up today. we're down sharply, down about 230 points from the dow jones industrial average. we're holding above 16,000 at this point. more on the market, i tell you, the interest rates are tumbling. the key yield on the 10-year treasury is down to 1.96. 1.9%. it's way, way down. that's the market response to a rotten jobs report.
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the outrage in oregon, the gunman writing about his plans the night before on an internet forum. the feds are now investigating that forum. it's been in trouble before. more varney in a moment. you both have a
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>> following the shooting at the college in oregon yesterday, well, last night,
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bill o'reilly addressed the president's response to the outrage. >> since 2012 there have been 6,000 shootings. 6,000 shootings in the city of chicago. there have been 1,679 murders in the city of chicago. organizer, so you know the problem that chicago has and you also know, mr. president, that chicago has extremely stringent gun laws. in fact, chicago is confiscating guns against the second amendment until the courts stopped that. criminals, who need guns to do their business, are going to get the guns. you, mr. president, have not made an issue of it at all. in fact, you don't even mention
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mention the carnage in chicago. you do mention the individual things like what happened in oregon, but chicago is like, doesn't exist, even though this is your turf. stuart: that was pretty strong. ashley: pretty strong and right. the word carnage may seem strong, but that's what's going on in chicago. i have friends that live in chicago and they say that the situation is out of hand. stuart: he does not address it. ashley: to the point that mr. riley made, strict gun laws. stuart: and connect today this shooting, there's a website, that the gunman may have written a post on that website, is that right, ashley. ashley: that's right. it's an anonymous message board. there was a message that went up late wednesday night, the night prior to yesterday's shooting basically saying, look, don't go to school ckthoo f re
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ths -- this is being investigated by the fed because it's notoriously a website, a board among the worst behavior on the internet. when that was posted, stu, people were giving tips how to conduct a massacre, what are the best targets. so we're talking about the worst of the worst. stuart: here we've got an outrage, people dead at a college, we have the president responding to that calling for new gun laws, overnight we found witnesses who say that the shooter was deliberately targeting christians and now we've got the idea that there was advanced warning on that website. ashley: yes. stuart: it's a rolling story outrage, beginning to end. ashley: dreadful. stuart: thanks, ash, good coverage. we appreciate it. coming up in the 10:00 hour, very shortly, iranian troops are in syria, hundreds of them,
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and russia's putin has conscripted another 150,000 russian troops. we are seeing a power shift happening right now in the middle east and we have a lousy jobs report, sinking stocks, the dow selling off right now and a 10-treasury yield has come all the way down. the second hour of "varney & company" is two minutes away.
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>>
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stuart: ladies and gentlemen, this friday morning the big story is the big board. the dow jones industrials down 200 points. it was a dismal jobs report. ugly. only 142,000 jobs. that is a very low number. labor participation rate 62%. that is a number we have not seen since the carter administration. hundreds of troops being moved into serious. 150,000 russian troops.
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russia in, we are out. a shooter kills nine. witnesses say he was targeting christians. president obama calls for tougher gun laws. we are under storm watch. it looks like the east coast will miss the worst of it. either way, prepare for a very windy weekend. varney and company, the second hour starts right now. ♪ to the middle east. reports of hundreds of iranian troops. these troops are backed by russian airstrikes. they plan a joint syrian government has blocked major ground offensive. joining me now is chris.
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chris, a couple of items here. first of all, not many news outlets are stressing iranian troops in syria. i am making a big deal out of it. i say it is very important. what say you? >> it is staggering to me that the american public is watching this happen. there are places on earth where it is not the u.s. responsibility to intervene. nobody can make the case that it is in our best interest to allow them to determine the course of the middle east. that is what is happening right now. it is just staggering. stuart: have you bought that? a major ground offensive is being prepared. backed up i russian airpower.
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you think that this is the start of a major ground offensive. that is very important. >> they are not. to target isis. the moderate opposition to a us on. he needs to reestablish control once he does that, he will be in a position to survive indefinitely. he either lose now or he dies. stuart: is this an anti-isis for army that is being formed? will they go after isis or just consolidate? will they attack isis? that is what i am trying to ask? >> absolutely not.
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there are only two options in syria. assad or radical jihad is. he does not want the rest of the world to recognize that there is a moderate opposition in syria. he has created hundreds of thousands, millions of refugees. now he does not have a moderate opposition to worry about. we will only have two options in syria. at that point, assad has survivability. stuart: haply written off idea of confronting putin's capability in syria? >> russia has an economy solid in italy. it has half the population. russia has a strategy. they have an objective in mind.
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united states is rolling over. letting them determine the arc of the conflict. it is not capability. it is an issue of will. stuart: this is my opinion, we have been kicked out of the middle east. we have lost our grip. >> we have been kicked out or we have ran away. i do not care how you categorize it. the process of withdrawing entirely from afghanistan. we are cutting a deal with iran. we got kicked out of the middle east. whether we advocated our responsibilities in the middle east. either way, we are no longer a force to be reckoned with in the middle east. stuart: they give very much for joining us, sir. check the dow jones industrial
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average. pretty close to the low for the day. we are down 240 points. 16,042. >> the u.s. factory orders fell. just piling on. >> that accounts to the further slippage. the yield on the 10 year treasury 1.9%. that is a huge decline in interest. factory orders down. slow-motion recovery. it does not have to be like this. it does not have to be like this. >> no, it doesn't. >> we have fiscal policy.
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a tax cut from the president is out of the question. david mcadams is with us. he watches the market. he is with a advisory group. all right, david. the economy is not doing well. the jobs report is dreadful. the dow jones average is down 250 points. where am i going wrong? >> you are absolutely right. we have 310% corrections in this bull cycle. a 10% correction is not necessarily a big deal. what is happening here is this is kind of a difficult shot across the bow. starting to feel a little bit more like 2007. we saw a short term drop. crossing six-10-12 after that.
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>> is that your forecast? a big draft coming? >> it would not surprise me. stuart: i have to get hard information for our viewers. you say that it looked like a big drop. would you sell? you were worried about retirement, would you sell your stocks? >> i would absolutely take a more defensive position. you have to look for non-correlating asset classes. >> i did not get that job. if i am in my mid- 60s, what should i do with my money? where should i put it? which stocks, which bonds? tell me. >> i think rates have been oversold recently.
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>> is that a position in real estate? is it? >> you have that opportunity for capital appreciation. sometimes going to the old story of income is better than working for a more aggressive growth. you have to wait for stocks to be in a price position. stocks are weighed more heavily. stuart: thank you so much for joining us. it is a big day and we are glad you are joining us. >> back to the outrage in oregon. nine people dead here it is just a few on. hours for the media to politicize it. brian williams. one of the first to sound off on gun control. >> can i ask you about your gun laws, concealed carry, that kind of thing? >> i am only in a position to tell you that it would not have
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been legal for a concealed carry to poker on a college campus. there is a flawed flaw and statutory law and college laws. it is a complicated area. that is my standing. stuart: media research centers. back with us this morning to address this issue. ryan williams. i think he basically called for gun control. correct? >> yeah. shocker. all week long there has been a discussion about kevin mccarthy and how he politicized benghazi. last night within hours of this awful tragedy, the president of the united states politicize this as he politicizes everything. the first question is, where is the media now? secondly, there is time for a debate.
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there would be a great debate on this one. there are questions that could also be asked such as the mayor that said gun control would not work. a security guard that was unarmed. where he was not able to protect the kids. that is a great debate. the media can play a great role down the road and being arbiters and asking both sides. this is what you saw. you see it every single time. they dove right into it. it is rather obnoxious and i think offensive to those families of children that died. stuart: what do you think of president obama's statement? >> this is a man, he is an utter narcissist. studies about how in just a span of minutes he referred to himself 28 times. it is all about him.
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it is not about the victims. based on a time and time again, where he sees ace tragedy. do not let a good tragedy go to waste. stuart: what about chicago? literally thousands of deaths in chicago unmentioned by president obama. that is his hometown. totally unmentioned. >> hearts of detroit where koppel not go because it is so dangerous. this is a deranged or evil person. this man would have killed regardless. it is just silly to say that he killed because he had a gun.
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he would have killed with another weapon. the bigger question is why did this man single out christians? why are they going on killing sprees against christians? i wish the president of the united states would address that and not only. stuart: favorite guest on the program and now you know why. always appreciate it. thank you. >> thank you, sir. stuart: the new iphone. out for about a week. the complaints are already starting to come in. donald trump says the government's unemployment number is way off base. we will fact check this one. >> you have some great economist that will tell you it is 30, 32. the highest i have heard is 42%.
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stuart: how a deadly virus affecting millions of pigs came to america? lauren simonetti. >> the deadly piglet virus that killed millions of pigs over the last two years they have entered the country through contaminated bags used to transport seed beard now they are looking into whether the virus was intentionally brought into the u.s. making your android phone vulnerable to hackers. all it has to do is send in android user a specially coded file. you can have your whole phone detected. google says it is aware of the problem but has not yet issued a fix.
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time for iphones. if you updated your iphone or ipod to ios nine, be careful of this feature that may be costing you money. it is called wi-fi assist. it often means you are using more data, sometimes triple the amount. that is why it could cost you money. stuart: monday morning. five eastern. government waste. getting worse. $1 trillion in overpayments since 2003. elizabeth macdonald has details. >> three of the worst offenders are medicare and medicaid and the tax credit. >> that's right. an equivalent of sending out the
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door australia. a little over a trillion. we are raising taxes while the government is pulling money out of the door. you are doing nothing to stop these excessive payments. stuart: i do not know how you can could sit there with a straight face. >> nearly a third of our income tax credits. money right out the door. stuart: you get a check in the mail every january. >> a refund check right out the door. so easy to see the abuse they are. details on that job to report. here they are. running out of adjectives. 142,000 jobs created.
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look at that. that is the participation rate. 838 year low. 830 eastern. the white house has come out with a statement. here it is. the unemployment rate remains at its lowest level since early 2008. the private sector has added 13.2 million. chief of staff for conway. referring to a long period of time. it did not refer to specifically today. i say today's report was lousy. you say what? >> absolutely abysmal. hot 142,000 jobs is very, very weak. they took out 59,000 jobs that have been credited july and august. where are we headed with this?
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>> i think that this is a bad report. you are not seeing the labor participation rate. ours is declining. that is not the case in the uk. what this report is not addressing or the white house does not want to talk about is they are not going back to work because the economy is simply not growing at a pace to pull them in. what you do not hear is the empathy of those that are struggling to make something happen in their life. that is where the dishonor is. stuart: an awful lot of people on the sidelines not jumping into the workforce. they are not jumping in because wages are not higher or because benefits are pretty strong. which is it? >> i think that there is
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probably a blend there. definitely seeing an increase. i really think the heart of the matter is wagers are down. household income is down. the economy is not moving. the investments in the workforce are not happening. all when the government is spending more. the question is how much the government takes is never put on the table. >> you are chief of staff through the labor department. i want your comment on what donald trump had to say. listen to this tape for a second. >> i hear 5.3% unemployment. that is the biggest joke there is in this country. that number is so false.
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the unemployment rate is probably 20%. you have some great economist that will tell you it is 30, 32. the highest i have heard so far is 42%. stuart: probably as high as 42%. >> ronald reagan discredited the director. let's just take the 42% off the table. taking a look at some of these other numbers that trump is talking about. it includes discouraged workers. workers on the sideline. that type of thing. i think you get into real territory. every month, the white house is selling unemployment numbers.
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they are ignoring what everyone in america sees. people around them are not working. stuart: always a pleasure. they give very much for joining us. the late and wonderful margaret thatcher. socialism is okay until you run out of other people's money. my take on that is next. ♪
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>> over all the market is down and sprint is up. they have a cost cutting plans to save 2 billion. many workers will be laid off. up 5 cents at 4.10. amazing picture of hurricane joaquin from space, a huge storm, look at the size of this thing. but it's looking like the east coast may miss the worst of it.
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we have the latest from accuweather. a major turn for the nfl. no players arrested in the month of september, the first time in more than six years. big daddy is coming up on that 10:45 eastern. with all the other dramatic headlines, you may have missed this one. our debt has caught up with us again. the treasury has run out of money earlier than expected about a month from now. run out of money, why? less tax money flowing in and spending stays out of control. you'll be hearing a lot about raising the debt ceiling all over again. of course we will. for seven years, debt has been an unmentionable word at the white house, it's been growing and growing, when the obama team moved in nearly 19 trillion now. it's been the president's policy to tax, spend and ignore the debt.
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here we are again, running out of other people's money. the way out through long-term, very strong economic growth. got to have it, but we're not going to get it from the obama white house and we're not going to get it if hillary clinton, bernie sanders or even joe biden wins next november. they don't care about the debt, kick the can down the road, keep borrowing, money is cheap, why not borrow some more? this is irresponsibility rit large. i can't resist again quoting margaret thatcher, the trouble with socialism, sooner or later, you run out of other people's money. how about november 5th, that's sooner than thought. don't worry, we'll go begging to china again, won't we?
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we're cracking down on medicare fraud. the health care law gives us powerful tools to fight it. to investigate it. prosecute it. and stop criminals. our senior medicare patrol volunteers are teaching seniors across the country to stop, spot and report fraud. you can help. guard your medicare card. don't give out your card number over the phone. call to report any suspected fraud. we're cracking down on medicare fraud. let's make medicare stronger for all of us.
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>> hurricane joaquin, the latest forecast suggests the
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storm is tracking away from the east coast, probably won't make landfall. meteorologist mark mancuso is here. mark, are we in the clear? >> yes, we are, stuart. we are looking at it the past couple of days, what we said, well, we had thoughts a couple of days ago, yesterday, we were pretty confident about it and today i think we've got a slam-dunk that this will stay out to sea. it's been sitting here over the bahamas, can you imagine, 24 hours worth of hurricane force wind and torrential rain and pounding waves, that's what we've had in the central caribbean here. stuart: what we'll have a lot of rain, but no direct hit from the hurricane, that's it? >> that's the way it looks right now and the rain is really not from the hurricane, there's a huge high pressure in the northeast, popping in the chilly winds you've been feeling and that's drawing in the moisture. these two are combining for the rain and wind. farther south in north
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carolina, there could be catastrophic flooding, but here you can see joaquin should stay well out to sea and west of bermuda. the best possible track, it looks like it's going to occur with the system. stuart: you know, mancuso, we go for clarity on the program and you delivered it to us. for a weather guy, clarity is really cool, let me tell you. >> we aim to please. stuart: if you're not careful, we'll see you next week. mark mancuso, thank you for joining us. >> thank you. stuart: check out the dow jones industrial average, we're down 200 points, we've been down 200 for the last hour. look at the 10-year treasury. the yield, all the way down to 1.91%. this all goes back it that jobs report. we've got a very weak economy. how about gold, up today? it's been a bad week for gold, up $26 bucks. maybe it's something to did with what's going on in the middle east. the price of oil is down because economists around the
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world and our economy slowing down, less demand for oil, down goes the price. how about a check of the stock price of t-mobile. a massive data breach and experian for people who applied for t-mobile service. just because you've got one of the credit passports at experian like i, doesn't mean to say you've been hacked. >> correct. stuart: you've only been hacked if you apply for a t-mobile deal through experian. >> it happened between november and december, and individuals who had credit checks conducted through t-mobile, customers financing a phone or something like that. the information runs the gamut. >> it's driver's licenses, names, address, contact information, it's a wide variety of things, including your social security number. so it's pretty serious in terms
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of what they were able to get. we don't yet know. t-mobile telling they don't know where it came from or what the deal was. it's ironic is that experian is offering the victims of the hack two week credit check. stuart: do you think there's anybody in america, whose name, mother's maiden name, who hasn't been hacked? >> you look at the number of hacks the past year, it feels like that. we know that there are hackers in china and russia are able to coallate the information. the t-mobile says they're angry
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about the data breach and they'll look at the experian. stuart: he's angry at experian? so am i. i had a credit check through experian and they called me up in the middle of night in australia, for a minor league question to get me qualified for a credit check. don't get me started. ashley: deep breath. >> i think we already did. stuart: outrage in oregon that ended with nine people killed. president obama spoke out shortly after the incident. roll tape. >> we know that states with the most gun laws tend to have the fewest gun deaths. so the notion that gun laws don't work or just will make it harder for law abiding citizens and criminals will get the guns is not born out of the evidence.
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stuart: that was, some would say a politicized speech by president obama. bill o'reilly took him to task. before this, i want to bring you a news advisory. the united states is considering changing the rules of engagement. the pentagon is reviewing its rules of engagement for our fighter jets, our planes operating in syria. they're considering using them to protect anti-assad rebels. currently they're allowed only to go to isis. but that could meanest-- mean escalation. i really laid this on thick, that the problem in syria, the problem in the middle east is really a crisis. we really have news today at that iranian troops are in syria, in syria.
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russia's putin has conscripted an extra 150,000 troops. that's escalation in the extreme. i put it that we're losing badly in the middle east. >> i think you're absolutely correct. if you look what's going on in the middle east, the response from john kerry, ash carter and president obama, the fact that putin moved ahead with his plans, he gave an hour's notice, if that. you can tell that we're losing ground and losing ground fast in the united states. stuart: we were had, jessica, we were had. flat-out had. >> we've at least taken this on board and making proactive actions to regain control of the region. stuart: didn't we know? the iranians have been sending hundreds of troops into syria for ten days, we didn't this? we're only responding now? >> listen, i'm not going to disagree with you on, it's not like when we talk about whether
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hillary clinton would make a good president. i understand there's a danger to our eye allies, i'm not impressed by our administration and what we've done. stuart: how about the economy? we've had the jobs report today. i'm labeling it a lousy jobs report, very few new jobs created. >> absolutely, the unemployment rate is 5.1% and you're going to counter with the labor participation rate. and obama did $your-- you're not? you're going to say 5.1%. stuart: the economy is in very bad shape. >> it's a tough economy, absolutely. stuart: i don't think that we've got any tools in the president's toolbox to fix it. >> i'm not sure about that. when you look what he's accomplished. there could be interesting in infrastructure more, creating jobs that way, absolutely. we can be doing more vocational training and raising the minimum page to make sure that americans who are in minimum
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wage jobs, we have them 20 years or over, they need a better salary, i'm not saying $15, but ways that americans could have better lives. stuart: i'm interested in growth. >> i'm interested in growth, too. stuart: you think if you spend more on roads and bridges and spend that money and if you raise the minimum wage significantly, not to $15, but-- >> no, 10.10 is my number. stuart: raise it to 10.10, what else are you going to do? >> you want to encourage-- you want to. stuart: what was the other one. >> infrastructure. stuart: and i've got the infrastructure bit, i've got the minimum wage and what else did you say? >> i didn't say, but you want to encourage that you want to reform the tax cody get that to encourage private enterprise. stuart: he's not going to do it. and neither is hillary clinton-- >> i'm not going to say that.
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it's not irrelevant, you can't black list an entire party. stuart: i am why not? >> it's not fair. you need to listen to the ideas people are talking about. stuart: you spend a ton of on infrastructure, and raise the minimum wage. what's the other what's the other side. stuart: you lower corporate tax rates and corporate tax holiday to get back to corporate america. >> and show that the struggling classes the lower and middle classes are going to be worse off than when you began, it benefits the wealthy, the wealthy are already. >> hang on, you're okay with a $18 trillion deficit and the budget for the government? the government is way too big and out of control. you cut the size of government. a trillion in overpayments since 2003 in government waste
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and. >> i'm not okay with any of it, l liz. why do they keep hitting up the u.s. taxpayer for more money when they haven't gotten their shop in order? >> and that's what obama wants and hillary wants, more taxes. do you think it's going to get growth? >> i know you can't implement and restructure the economy and leave behind the majority of americans and leave them behind. stuart: the middle class, wait a minute, wait a minute, obama's policy, president obama policy has left behind the middle class. middle income earners make less than they did seven years ago. his policies have failed. more of those policies will continue to fail. >> he also inherited an economy and i'm not just bush blaming, but this man did not walk into a good situation. stuart: and he haven't fixed it. jessica, smile. there you go. [laughter] no, no, look. we have a difference of
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opinion. >> i feel great. stuart: walk away on a friday-- >> i'm going to cry, but i'm fine. stuart: no, you're not. thanks very much. time for the-- the sector report. china considering measures to support the macao economy and gambling revenues near five year lows and las vegas sands, a couple of those, mgm included, if china makes moves to get more gamblers going to macaa they've won. next, the nfl hits a bitter milestone in the month of september. and for the first time in six years, not a single player arrested in that month. big daddy will have more on that for us in a moment. good news for you satellite radio listeners. and starting monday fox news headlines 24/7 premiers on xm satellite, all the nice you need all day long. sirius xm channel 115. alive"♪
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>> i'm nicole petallides on your fox business brief. the dow jones industrial average down 142 points after a weaker than expected monthly jobs report and the two prior months revised to the downside. a selloff across the board. right on the screen, bonds is apparent, 1.93% for the 10-year bond as rates fall. financials under pressure including names such as j.p. morgan and goldman sachs, two
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of the biggest lag guar ards. the only green pfizer because of a morgan stanley talking about revenue growth. t-mobile remains under pressure as 15 million of its customers may have had their personal information compromise, social security numbers and the like. we want you to start every day on fox business. lauren simonetti and i with breaking news.
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>> well, what you're looking at is a dow jones industrial average that's off its lows. we were down 250 now we're down 150. how about this? a milestone for the nfl in the month of september, not a single player throughout the league was arrested. first time that's happened in more than six years. tongue in cheek report. joining me now, rich salgado. how are you? >> i'm good, how are you? >> it looks to me. that's an extraordinary statistic, isn't it? what does it tell you? >> it tells you that the commissioner and the union and the teams are all working together it make sure that these guys understand that they're a commodity, that people look at and can be seen from every camera, every social
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media outlet, everywhere and they're telling guys, look, don't act up because everyone can see you acting up and you're going to get in trouble and you're going to get suspended and you're going to be embarrassed. stuart: i understand that the teams are taking steps as well to keep their players in line when they go out at night, trying to keep them in line? >> what the teams do, they offer car service that the players can call if they feel it's too much to drink. nothing to do with the team, but an independent service that helps them get back. and the teams have individual security people if they think there's an issue or they're going to get in trouble or something like that, they can call. stuart: that's interesting. i come to this and i think no arrests since september, well, that's extraordinary statistic. in fact, it's kind of good news for the nfl that they should be doing the right thing, i guess? >> it does, it helps. stuart: the other one, the injury rate, the number of injuries is rising as i understand it.
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now, you're in the business of insuring players against injury. business is booming. >> business is okay. business is okay. as we always stated in the past, guys are getting bigger, faster, stronger, so the collisions, they're more violent and it's a violent game, football. and the other thing is, guys are, you know, the cause of injury and the surgery that we've had, let's say in the last 15 years, to where we are now, guys are-- they get hurt, they get surgery. five months later they're back up and out. >> what's the average playing time of a player? i mean, what's the average-- >> the career, it's about two and a half to three years. >> that's it? >> and the nfl what's it stand for? not so long. stuart: two and a half years? >> yes. stuart: my goodness. and thanks for filling us in on the details, rich, come back
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anytime you look. >> i love being here. stuart: let's see how they do in october. [laughter] thank you. coming up, the crisis in syria, yes, it is a crisis. iranian troops move in to help the russians take on the anti-assad rebels. i'm calling that a flat-out defeat for the obama administration. coming up at 11:30, we have a special interview with a guy who bought a vw clean diesel. thought he was getting a green car and now he can't park in the green parking spots. he's back on the show. back in a moment. ♪ ♪ (under loud music) this is the place. ♪ ♪ their beard salve is made from ♪ ♪ sustainable tea tree oil and kale... you, my friend, recognize when a trend has reached critical mass. yes, when others focus on one thing, you see what's coming next. you see opportunity. that's what a type e* does. and so it begins. with e*trade's investing insights center, you can spot trends before they become trendy.
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>> today's job report not very encouraging to say the least. the u.s. adding only 142,000 jobs in september. so, will this impact the fed's decision on when to raise interest rates? that's the question. peter barnes, you spoke with eric rosengram, what did he have to say. >> i interviewed him at 7:30 before the jobs report was released, ashley, and before the report he said that he thought the economic data, including the jobs figures, were coming in okay and that he, as a result, he could support raising interest rates
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sometime later this year. then i ran into him after the report was released, he wouldn't comment and referred me back to this comment during the interview. >> depending how the data comes in, if we're reasonably confident inflation is going to 2% and we see further improvement in labor markets then we should be tightening sometime over the course of this year. if those conditions aren't met, we should wait. well, we're going to get some more data points, including more jobs report before the end of the year, and we'll see how that all shakes out, but right now, today's jobs report creating more uncertainty about the future of fed policy, ashley. ashley: not the word that the markets like for sure. peter barnes, thank you so much. more varney up next. at mfs investment management, we believe active management can protect capital long term. active management can tap global insights. active management can seek to outperform.
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a russian general ignoring us.
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our rivals have combined to seize power all across the auto patch. all across iran, iraq and serial. they have acted. we are in. they are out. the flow of refugees will surely increase. our friends are left stranded. many sources saying there is a ground war coming. the iranians are building up the troops in theory of four weeks. russia was flying in jets and building facilities for some time. we knew that, but did nothing. the verdict stands, we've been humiliated and we've been led into defeat.
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responding to weakness in the economy. as it weakens, we use less oil. down goes the price. the hurricane >>.
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it is huge. the latest forecast suggests it is not making landfall in america. their risk of significant flooding remains. another picture, a national hurricane center in miami. a category four storm. it too says it will make a significant turn to the north sometime today. passes over the bahamas later tonight. if this forecast holds, the storm keeps on that path in goes out to see. does not hit land. not it. good news, i guess. a terrific community college shooting. authorities say a 26-year-old man armed with multiple guns opened fire in a classroom at a community college. killing at least nine people. the gunman died following a shootout with police. last night, residents gathered in a nearby park for vigil.
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warning about the shooting just a day before. all right. back to my take. as you may have heard, iranian troops are in serious. that we know. they are siding with the russians. we have the heritage foundation with us this morning. genevieve, thank you very much for coming in. i say that this is a virtual innovation. the iranian troops are there. essentially, new soldiers constricted. i think that this is a great crisis. >> you are not wrong at all. talking about putin and company.
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all of this is happening as a direct challenge to u.s. leadership in the middle east. why would they not challenge it was should mark what have we done over the last five years to say that putin or any other guys would challenge it. we have done nothing. we have a relationship with iraq a government. why, for the past two months, have we not sent to them that they cannot open up their air space. we did none of that. completely surprised by the scenario. the much worse positions today than we were two weeks ago or four years ago because we have allowed russia to come in. stuart: is there an argument to be made? weak upper and when we were in iraq and afghanistan. let the russians get turned when they send in pairs.
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let the iranians get burned when they send there is into serious. what do you say? >> it could be a much more dangerous place. we have been trying to keep russia out of the middle east. people can kind of do what they want. not taking any measures. >> i get the point that we clearly lost face. we are in retreat. where is the negative for us? how does that hurt us in america? >> the middle east is already a very dangerous part in the world. we think that it will not spread terrorism. we are sadly, sadly misguided.
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material refugee crisis is likely to explode even further out of this. the u.s. is not over here on an island by ourselves. stuart: late word is that the pentagon is changing the rules of engagement. our forces, our pilots would be in a position to defend the anti-aside grovels as the russian jets are attacking. that raises the possibility of a confrontation. it means, maybe, that we have a back on. >> the russians have gone in. bombing and attacking people that we have been supporting. some of them have been trained by the cia.
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if you touch any of our people, any of the people that we have been supporting, that is on your head. that would mean that putin has to believe that president obama we will see. stuart: thank you very much. thank you very much. i want to get back to the economy. we have that reading. 8:30 a.m. eastern time. 142,000 jobs were added last month. the participation rate. people who are working. a rough translation. a 38 year low. cfo is with me today. i say said that that report is a rotten report. it is real economic weakness. am i going too far? >> no.
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i think that you are absolutely right. 175,000-200,000. it just plans to some of the more aggressive news we have been hearing the last couple weeks. is there a direct correlation between that rotten jobs report? >> certainly on a daily basis it is. people are looking forward to this job report. certainly today that is a major reason you see the market tumbling a little bit. >> you are mid 60s. a lot of our viewers are. retiring fairly soon. why not take some money out of stocks and sleep well at night? do some selling right now.
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peace of mind. answer the question. why not? >> why not. i agree with you. if you are near retirement and you have a five-year period to retirement or closer to that, you cannot afford to take major drops in retirement. all the economic indicators, stuart, are leading us to believe that this may be, right now we are in correction territory. it is kind of a shot across the bow if you look at the last two major drops. it would not surprise me at all if we went into bear market territory. i think that it is inevitable with the trend we have been seeing lately. it almost increases daily at times. a lot of negative indicators in our economy.
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safety is paramount right now. stuart: yes it is. much obliged to you. good stuff. here is what is coming up for you. the vw emissions scandal. hitting customers. we are talking to one guy that can no longer park his car in the environmentally friendly parking spot. he has to go with the gas guzzlers. he has lost. he is on the show. and this actor from "the walking dead" joins me. 16 million people. he is with us in a moment
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stuart: look at the price of gold. it is up to date. maybe that has something to do with the new crisis erupt in in the middle east. 1138 on gold. gold-mining stocks are on the up side. look at that.
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i do not know how you pronounce that. of 9%. now, within hours of the shooting, president obama addresses the shooting. in my opinion, he turned it into a political issue. charlie kirk is here. let's not dwell on what the president had to say. i want your opinion on millennial's. you are a millennial. you work with millennial's all the time. how do they feel about gun control? >> despite the tragedies, the left has really failed at being able to get political moment of. it time and time again you can look at either college campus campus resolutions. stuart: is that right? >> it is really interesting. you can look at war schools in
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texas, for example. approved by many student bodies and student body presidents. stuart: some colleges in texas -- >> that is right. if you are a legal gun owner in the state. i agree with it. i do believe that guns save lives. responsible gun ownership have the right to be able to protect themselves. i should rephrase that. allowing students to defend themselves in a legal constitutional manner. president obama time and time again tries to politicize this. he fails dramatically. this is one of the issues that no matter how much he tries, he just cannot get the house to pick up any of this narrative or frederick that he tries to put
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forth. stuart: i think that you are right. i look at what is coming out of colleges. >> we want gun control. >> you see the grassroots and people of all different political persuasions. bernie sanders. even he has a b rating from the nra. >> bill o'reilly made a good point. look at what is happening in his hometown of chicago. if you go back 30, 40, 50 years, a very violent company. you cannot, there are too many guns out there.
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>> stopping what happened yesterday. great, i am all for it. bill o'reilly took on all of this last night. i want to roll a soundbite where he is off script. i do not believe that he was on script with this one. discussing president obama, gun laws and gun killing. >> since 2012, there have been 6000 shootings. 6000 shootings in the city of chicago. there have been 1679 murders. in the city of chicago. many of them, exactly where you worked as a community organizer. you know the problem that chicago has. you also know, mr. president, that chicago has extremely stringent laws.
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chicago is confiscating guns against the second amendment until the courts stop that. criminals, who needs guns to do their business are going to get their guns. you, mr. president, have not made an issue of it at all. in fact, you have not even mentioned the carnage in chicago. you do mention the individual things. chicago does not exist, even though this is your turf. >> i am from chicago, two. you turn on the nightly news and it is devastating. the president does talk about what is really going on here. we have this debate once every nine months when there is a tragedy of this sort. this is what the left loves to focus on. how can we continue to limit. this is just another opportunity.
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stuart: how would you feel if you walked into the classroom of your university. i do find that hard to think of. i find it hard to imagine. i do not know what my reaction would be. >> i would want one of my own. i trust myself. >> you cannot have gun free areas like airports and classrooms. >> you make good argument. chicago is a gun free zone. more dangerous than kabul, afghanistan. stuart: everybody goes through metal detectors at an airport. >> high schools, colleges. >> we are not going to do that. >> large cities. >> i grew up in a country where there and were no real guns. i never even held a gun.
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preventing something that happened yesterday. in chicago, i would be all for it. the horse has already bolted. you cannot try to prevent people from defending themselves. stuart: charlie kirk, everybody. coming up. hurricane joaquin pounding the bahamas right now. this massive storm will bypass land. go out to sea. that is good news. also, later. the non-politicians. they are leading in the polls. we will talk to the college republicans. later tonight, charles paynes interview with donald trump. do not miss it. 6:00 p.m. this network.
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tanzeum is not insulin. it is not used to treat type 1 diabetes or diabetic ketoacidosis, and has not been studied with mealtime insulin. do not take tanzeum if you or your family have a history of medullary thyroid cancer or multiple endocrine neoplasia syndrome type 2, or if you're allergic to tanzeum or any of its ingredients. stop using tanzeum and call your doctor right away if you experience symptoms of a serious allergic reaction which may include itching, rash, or difficulty breathing; if you have signs of pancreatitis, such as severe stomach pain that will not go away and may move to your back, with or without vomiting; or if you have symptoms of thyroid cancer which include a lump or swelling in your neck, hoarseness, trouble swallowing, or shortness of breath. before using tanzeum, talk to your doctor about your medical conditions, all medicines you're taking, if you're nursing, pregnant, or may become pregnant. and about low blood sugar and how to manage it. taking tanzeum with a sulfonylurea or insulin increases your risk for low blood sugar. common side effects with tanzeum include diarrhea, nausea, injection site reactions,
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cough, back pain, and cold or flu symptoms. some serious side effects can lead to dehydration which may cause kidney failure. ask your doctor if adding once-a-week tanzeum is right for you. go to tanzeum.com to learn if you may be eligible to receive tanzeum free for 12 months. make every week a tanzeum week.
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stuart: forecast show hurricane joaquin traveling out to see. will not hit land. that is good news. however, it may mess up your travel plans. gerri willis will tell us why. >> if you are planning to travel even next week, chances are that your flight could be delayed.
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almost all the airlines are saying, look, if you were going to go into the bahamas right now, you can change your fair no charge, nothing. delta, american, jetblue, all doing that. the most generous offer right now is coming from u.s. air. allowing you to book trips to florida. no extra cost. you have to do it within a reasonable timeframe. that is the reality there. here is the other thing. it is kind of nasty of. today; right? take a look at the delays going on right this very minute. laguardia is delayed. there it is. one hour and 43 minutes. it is just garden-variety trouble in our neighborhood.
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>> start making excuses. >> an hour delay. stuart: even into next week it is bad. >> look, right now we have this sort of thing. it will expand. it will give bigger. it will screw up travel. monday, tuesday next week. if you have a business trip scheduled for next week, you may want to start moving now. see huck pac on monday to tell us how bad it is. great stuff. coming up, a longtime vw owner. love those needles. his car can no longer park in those privileged parking spots. he is up next.
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the situation in syria coming up next. they are in syria. russia is constricting 150,000 troops.
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>> we are off the lows of the day. we were down to 50.
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now we are down 90 points. to politics. donald trump. with me now is alexandra smith. welcome back. good to see you again. i want to talk to about the politicians and the outsiders. the outsiders. >> i would say at this point young people have not put on the jersey for their favorite candidate yet. stuart: you know which way they are leaning. >> truly. we really have not seen a lot of people choose a side just yet. what i will say in terms of outside candidates, i think that people really are excited about the diversity of backgrounds.
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a good example of this is at our seatac is that, we had carley you come speak. fast forward to our convention in june. we had students practically brushing the rope line. i think you hear more from outside candidates. they do not come from a traditional world. if i pulled republicans today, with all of that in there, with donald trump, on top in a vote of college republicans? >> like i said, i really do not think that college applicants have quite picked a side yet. stuart: i will not have it.
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>> what i will say about donald trump is i do think that college republicans and conservatives, you know, young people all around the country really value his authenticity. he says what he means. that is important to young people. stuart: i get the impression that you are backing with the established politicians. >> the only thing that i am picking is eagles over redskins this weekend. [laughter] stuart: you are a diplomat. you are. if a vote were held on all college campuses today between bernie sanders and donald trump, who would win? >> i would have off to pick donald trump over bernie sanders. stuart: are you kidding me? i cannot believe you are right. college kids are generally to the left. >> i will push back on you there. most muslim mullen kneels identify as independents more
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than any other political affiliation out there. i think that that is what young people subscribe to is a cultural liver is on. you think that government is doing too much. a majority of self identified liberals say yes. stuart: alexandra thank you very much for joining us. come back soon. the iranian troops are now in syria. they are siding with the russians. with me now is david petronius. welcome everyone. welcome to the program. good to have you, sir. if i mix and hundreds of iranian
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troops in syria, hezbollah is already there on the ground. russia has just constricted 150,000 new troops. do you think that a ground war is brewing? >> russia is simply going into syria to her type aside. looking for a u.s. operation. russia says we will be going into prop up a side. more now after the jcp away. after the release of funds. they are able to do more for a side now after the ironic deal. they are there. that surprises everybody. >> it looks like a new access of power. they are running the show at this point. a total shift in the power
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structure in the middle east. am i going too far? >> no. no you are not. u.s. trained rubbles. second in rubbles. second in nationals in rubbles. we need to be ready for russia to target. we need to be able to counter it. a coalition partner in the fight against isis. we have been fighting isis for years. we cannot credit isis too much. >> does this make any difference now that iran has troops in syria? >> it should. they are in violation of it now. by using funds released in the jcp oa.
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raising the alarm on the flags in congress. increasing sanctions. >> i think that we have been had. just an opinion. thank you. do not forget the w. dealing with an emissions scandal. a vw owner who is angry because he cannot park in a green parking space any longer. >> vw owners. two-year breed. he wants performance in his vehicle. unlike you, he actually cares about the environment. >> i do care about the environment. running within the guidelines
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set by the epa. jeff: that is not what is happening here. >> apparently, they do souls do not meet the epa standard. jeff: giving you a look at what these engines look like. it sounds a little bit to be like a lawnmower in there. a roaring engine, by any means. it did give you very good performance and still does. >> one of the best cars i have ever owned. i have been very pleased with the performance. actually, i bought the car for the performance and, obviously, the clean emissions. jeff: you are angry at wilkes waited, obviously. are these too strict? it causes companies like volkswagen to say we cannot meet those standards, we have to cheat somehow.
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>> i do not know if they are strict. they took the wrong path. companies like mercedes use a different technology. more expensive. you do not get quite the mileage. you do get the performance. jeff: real quick, you are suing volkswagen? >> yes. i am protecting my investment. jeff: if they do not fix it soon, you will not get the same performance. >> i got a car that got the mileage. met the fuel emission standards. those three things. jeff: stuart, this is a man that you can relate to. he wants performance, but he also wants a clean environment. stuart: i relate to him. he lost that parking space. that is a big deal in my book.
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i've got something just coming in. stepping down in december. being replaced by john c king junior. coming up. a much loved out there from the hit series "walking dead." his fans were devastated when he was killed off. and announcer at a baseball game shaming sorority girls for taking selfie's. watch this. >> taking a selfie with a hotdog. selfie with a churl.r! selfie just as a selfie. wow... yeah! okay... guys, i'll be writing a new language for machines so planes, trains, even hospitals can work better. oh! sorry, i was trying to put it away... got it on the cake. so you're going to work on a train?
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nicole: i am nicole petallides with your fox business brief. the dow is dropping 90. off the lows for the day. a weaker than expected jobs report. also revised to the downside. we have seen some improvement. we are seeing names such as pfizer. the financials remain under pressure. we did see the bond yields coming down. the worst sectors of the day. we are seeing some strength in energy and healthcare. oil right now at 44-point reteam. seeing stocks soaring.
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taking a look at las vegas sands. up 16%. more support. (trader vo) i search.
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i research. i dig. and dig some more. because, for me, the challenge of the search... is almost as exciting as the thrill of the find. (announcer) at scottrade, we share your passion for trading. that's why we rebuilt scottrade elite from the ground up - including a proprietary momentum indicator that makes researching sectors and industries even easier. because at scottrade, our passion is to power yours. stuart: happening right now. serious foreign minister addressing the united nations. he welcomes those russian airstrikes. no surprises there. striking at the opponents, the
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enemies of the worst assad regime. next case. one of the most popular shows on television. he is back for a sixth season. the walking dead. it starts again this sunday. a fan favorite on the show. watch this for a minute. >> not enough to break through. stuart: all right. welcome the actor. >> good morning. memories, memories. stuart: five marks right there. [laughter] >> i feel a lot better. he kind of worked on me. he patched me up nice.
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stuart: you have been killed off. you are not on the show any longer. do you miss it? >> i know. i am still trying to get over it. of course i miss it. everything happens in god's timing. stuart: are you a practicing christian? >> i am. i am a gypsy. it encompasses everything. it all boils down to truth and love. [laughter] that is something i came up with. stuart: this is "varney & company." i am varney. this is a financial program. i am going to ask you a financial question. do you get any money for all of those seasons where you did appear on the walking dead? >> how sweet it is.
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[laughter] stuart: can you live pretty well on the royalties? can you? >> given that i am in the south, i can live that are then a lot of people out west end up north in new york. three times the amount. stuart: i have a theory. the show, walking dead, was not popular because it was all about zombies or whatever, it was popular because the writing was terrific, the acting was terrific and the show was highly original. >> i need another thumb. that is three thumbs up. stuart: the new series starts on amc on sunday. >> i am not going to tell you any of that.
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they all liked to. very sympathetic. they want you back. >> i feel all the love from around the world. i had tweets coming from as far south as south america. europe, asia, of course here in the states. it has been incredible. i continue to receive it. >> i know you will not say whether you are coming back on the show or not. what are you doing now? >> i am constantly promoting my book blindsided, by, get this, the walking dead. the blind side. the biggest sports movie ever.
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pete out my favorite movie rocky. the biggest television show of cable time. also a version of what is in my book on the stage in the show. twenty different appearances on stage. i do some dancing, some comedy, some drama. working on my music. i am putting that together also. be on the lookout for that. ims always i am always searching for subscribers. hopefully, you subscribe. several perps. go check that out. stuart: it was a pleasure having you on the show. i hope that keeps on rolling. stuart: confidently awaiting the return of the dog. we appreciate it.
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>> thank you. god bless. stuart: time to check the big board. we are down 100 points. we were down to 50. coming back a bit. how about this. a new app similar to yelp. you can rate somebody in your family or a friend. guess what, everybody can see how you rated other people. fox news headlines. twenty-four-seven. all the news you need. channel 115. more varney in a moment. ♪
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if you're medicare eligible, call now... and talk to unitedhealthcare about our plans, like aarp medicarecomplete. let's get you on the right path. call unitedhealthcare today. ♪ stuart: the new app coming on on-screen. i do not like it. it is called people. it will go live next month. it lets you rate other people. passing judgment on other people. ashley. >> not affiliated. stuart: i think that it is big trouble. if i could get your cell phone number, i could create a profile for you. two stars or less.
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you get 48 hours before that review goes public in order to rebuttal, sort out your differences with these people. stuart: i think that that is just awful. >> cyber bullying to an all new level. it will be ready to roll out november 1. stuart: hold on a second. a group of sorority girls taking selfie's at a baseball game. they got mocked by the announcers. watch this. >> that is the best of the 300 pictures i have taken today. every girl in the picture is locked into her phone. every single one is dialed in. they are all transfixed by the technology. hold on, i have to take a selfie with a hotdog. selfie with a churl. selfie of a selfie. stuart: what is the big deal?
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>> these announcements went back and back. a sorority group. they got ridiculed to no end. it was kind of brutal. stuart: they did not watch one minute of baseball. >> selfie, a new american pastime. you know, these girls got ridiculed. i think the announcers went too far. i am the only person saying that. stuart: it was fun, wasn't it. more funny after this. ♪
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. >> four years into the civil war, you've got assad who controls about 20% of his country, you've got a refugee problem, you've got a region facing a huge crisis and we don't have a strategy, and
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you've got a brilliant tactician named putin working with his allies in the region and doing something about it. stuart: that was jon huntsman about syria. he does not approve of our lack of backbone. neil cavuto, it is your time, take it, please. neil: thank you very much, keeping track of two storms, the one that's at sea, the other brewing up on wall street. you obviously know about the big sell-off in stocks, though that's been pared dramatically, you may not know this development, interest rates are collapsing, i mean collapsing, a 10-year note fetching 1.95%. the good news there could be much cheaper borrowing costs down the road, if you're a safer, this couldn't be anywhere but a snooze. tropical storm joaquin, rick reichmuth, what have you got? >> interesting storm where it's tracking, not sure where it's going to go. the latest images, it's made

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