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tv   Varney Company  FOX Business  October 24, 2018 9:00am-12:00pm EDT

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in the crosshairs of congress but will be see moves to break them up? >> they are looking at europe. the right to be forgotten, the legislation they are looking at may be break up talk and when you have twitter and google going after members of congress there's repercussions. maria: good to see you both, have a great day, thanks for joining us. "varney and company" begins right now. stuart: good morning, everyone. we are about to find out what is important to investors. profits or worries about china, italy and interest rates. here we go. the dow will open up this morning, not that much, gain of 20 odd points. cautioned. this gain in the dow, very small gain is almost all due to boeing which reported stellar financial reports earlier today. boeing is a dow stock and it is well up. it accounts for 100 dow points.
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the market will be flat to lower if not for boeing. other numbers coming up in a moment. and. it is not all good. i will get those numbers for you in a second. here's what might be called the emerging political issue affecting the elections. there is a second caravan forming. migrants gathering in guatemala planning to follow the other caravan in mexico. an hour ago the president tweeted this. for those who want and advocate for illegal immigration just take a look at what has happened in europe over the last 5 years, a total mess. they only wish they had that decision to make over again. i think he's watching the show. angela merkel let the migrants in a divided europe. donald trump is emphatically caravan migrants are not coming here. let's get the hats off to mitch mcconnell after being confronted in a restaurant. he wrote an editorial in the louisville courier journal. he is unphased.
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he appreciate those who spoke up against the shameful behavior last week. mitch mcconnell has a lot of plans. someone in south carolina is in the money. mega millions drying has produced a winner and tens of millions losing. "varney and company" is about to begin. ♪ stuart: boeing will be the stock of the day giving the dow a boost as we reported. it will be up $13, that is boeing, nearly 4%, very solid gain, stock of the day, several other big names you know have been reporting, at&t profits falling short, sales falling
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short at ups, same story at general dynamics. all those stocks on the downside after their profit reports today. let's stay on your money. robert tip with prudential making his first appearance on the show. let's be decent to the man. you are a bond guy. are you seeing people getting out of stocks or not putting any more money into stocks and putting it instead into bonds? >> taking a pause in the flows, going out of bond lately. we had a big year last year coming in, now that yields are higher and market is more attractive we are not seeing that. stuart: i'm surprised to hear that. you don't take much risk in the bond market compared to the huge risk in the stock market. >> people are seeing the fed raising rates and that makes it difficult for people psychologically to bite down on the idea they should be
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balanced in their portfolio and have the stock or bond. by the time the fed gets to the point they are raising rates yields had most but not all the increase they have at the back -- stuart: i opened the program saying there are worries about italy and italian bonds. are you saying there's nothing to worry about? >> the fact of the matter is europe after starting off the experiment in 1999 they had a party. they ignored their own budgetary rules and paid the prices out but northern countries, underwriting the countries that had excessive depth and putting the spruce in them, they tightened their profits and following the rules. in italy they are tabling a projected budget, 3% limit.
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it has gone -- stuart: do i have to worry? i am told i got to worry about italians and bonds. >> it will create market volatility. this trend toward fiscal austerity in europe and japan is a healthy one. stuart: thanks for joining us this morning. the bread and butter of this program, donald trump talking up a tax cut before the midterms 13 days away. roll tape. >> kevin brady and the group of people, we are putting in a tax reduction of 10%, net neutral, which i don't have to explain now but pretty much net neutral but great for the middle class. it will be a tax reduction of 10% for the middle class. business will not enter into it.
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the tax reduction the middle class has gotten and we are putting in a resolution probably this week. stuart: columnist liz peek, you know what i am going to say. here is the president, the tax cut before the midterms. you get a sax that you middle-class folks after the elections if you vote for me. >> no more a bribe then progressives offering guaranteed income or medicare for all. those things won't happen either. it is the linchpin of the midterm election, democrats lie about the tax cuts for almost a year and maintain the middle class got nothing out of them, with a $500 month credit for middle-class americans, the
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president had to reinforce the fact they are aiming tax policy at the middle-class, they did get a tax cut of 10% to 15%. it is not insignificant, the majority of the policy was named at corporations. it is not a bribe. it is a directive, where they go post elections, a reminder to voters that democrats talk about taking away tax cuts and republicans are talking about increasing. stuart: put the economy on the front burner. >> what they hoped would be a major talking point. stuart: i want your opinion on senate majority leader mitch mcconnell who has written this op-ed about his experience with protesters in a restaurant in kentucky. and i will eat with my friends and family at my favorite kentucky restaurant which i appreciate those who spoke up
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against the shameful behavior. we hope other customers were not too inconvenienced by the estimate left-wing tantrums lose this guy has a lot of class. >> recently right. this is not working for democrats. the gallup organization reported in september that for the first time in 2014 republicans have a better favorability ruling or approval rating than democrats in this is the kind of thing that is leading to that. the brett kavanaugh hearings led to that shift in approval for republicans and the antics on the left, people don't like it. they don't like mob rule. the mob versus jobs is completely working for republicans. stuart: there is a trend in the polls towards the president, towards the gop because of the economy, brett kavanaugh, confrontations and the caravan. it is a potent issue. >> and the economy. all these things wrapped up together. i love the new york times front page thing where they had headline that was basically who
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would have sunk it? voters are looking and feeling better off and that may influence their vote. this is a new thought, the economy might weigh in on behalf of republicans, it is. there was this. stuart: more from you later. here we go. we got a winner. mega millions, go on. tell us the details. ashley: one winner south carolina, we don't who it is. south carolina is one of the handful of states that allows jackpot winners like this to remain anonymous. we don't know whether that is going to be the case. if it were me i would certainly be. 36, second-place winners, 36 tickets worth 1 million. there were a ton of losers but they call the game of chance. stuart: 37 winners and how many hundred or tens of losers? ashley: a few. you must be fun at christmas. you kill joy.
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stuart: lessons in life. >> when you get the lottery ticket to your awesome store. by the way, greater odds of dying from falling out of bed from winning the lottery. stuart: the powerball tonight, $620 million, we got to report that tomorrow. ashley: you might win. stuart: i am accused of being a dream killer. i am not. the dream in america is not instant riches by buying a piece of paper and fortunately willing attentive money. i'm not saying don't buy them. i'm saying that is not the american dream. quiet on the set. the american dream is to make some money, save it, invest it, grow your capital and experience the joys not of stupid consumption to stop it, but the freedom that capitalism
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gives you and -- ashley: the freedom to buy a lottery ticket. liz: i love stupid consumption. ashley: one sane voice. i thought you were with me. >> politically it is a terrible thing because it takes money from poor people. loot state and politics. liz: where are the rainbows and sunshine on this? stuart: thank you for staying at it. where are we? we are going up but not much. 22 points tire as we speak and we open the market in 20 minutes. no more meat, that is the latest advice for saving the planet. will giving up a burger of what a climate breakdown? bill lemberg, burgers are not killing the planet. they are not. this will be quite a day. next case, two weeks from the midterms, 13 days, the top guy at real clear politics says
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this will not be a to waive election. we will get into that i promise. there is this too. willa hit mexico as a hurricane but watch out northeastern us, it is coming here. we have details for you. advis. for our firm, it's about trust and transparency. trust that we do what's right for our clients, without the constraints imposed by the traditional brokerage houses. transparency in the way we're compensated. our philosophy is one of service, not sales... that's why i'm independent. charles schwab is proud to support more independent financial advisors and their clients than anyone else. visit findyourindependentadvisor.com
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stuart: big-name, less money coming over the transom at ups. that will be down 3% at "the opening bell". willa downgraded to a tropical storm, it hit mexico but what is this about a coming to the northeast? >> go with me on this one. the energy through the storm through northern mexico will get to the 7 united states the still raining but an area of low pressure. that the pressure is going to drift across the southeast, go of the southeast coast and guess what? start getting powerful again moving up the coast, the atlantic coast possibly forming a nor'easter. i say a nor'easter by this
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weekend. it is too warm to produce snow. windy and rainy is a real possibility from this was the hurricane in mexico could impact the northeast over the weekends. stuart: here it comes. donald trump doubling down on his claims that middle east owners are mixed in with the migrant caravans that are moving forward to the border. role that tape please. >> are you saying there are terrorists in the caravan? >> there could very well be. it happens all the time from the middle east. there is a very good chance you have people in there. certainly people coming up through the southern border from the middle east and other places. i'm not letting them in. they are not coming in. stuart: we need a national security analyst for this. who better than wally ferris. are there members of these caravans that really are a
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national security threat? >> in a national security assessment we look at trendss of the past and intelligence to go over the hearings in congress over the past ten years, democrats and republicans if you look at reports by agencies. you would see that hezbollah, al qaeda and isis have always tried to penetrate our borders in small settings. 7000, 8000 people going through the borders, obviously the basic projection of all the agencies should be hezbollah, al qaeda, isis and as the vice president said, funding was funding from venezuela, venezuela is the ally of iran. all of that should give us a warning to be very careful about who crosses into the united states. stuart: i am sure you know donald trump is tweeting this
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morning trying a parallel between what happened in 2015 in europe, the migrant march that was allowed in, we got the tweet on the screen for our viewers, drawing a parallel between what happened in europe in 2015 and what may be approaching us in america 2018. you have drawn the parallel on this program. >> i did. as a matter of fact, the way this has been organized if you analyze it well, the way it grew, the way it crossed multiple countries, there is a grain behind the organization and i pretty sure by deduction, by projecting, that they looked at what happened in europe. once it crosses the first country it will be difficult to stop in the second and third and then i studied the incidents that took place that are linked to these demonstrations. europeans are not shy about it even if they are not shy about the immigration issue. stuart: you know what you are talking about, thanks for being with us.
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back to the markets, looking at futures, a fractional gain at this point. looks like some of the weak earnings reports we already received are taking their toll on the market again this morning. we are opening lower on the s&p and lower on the nasdaq. it trump nikki haley ticket for 2020? liz says it is possible. my question is what about mike pence? we will be back
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stuart: breaking news. a suspicious package described as a bomb has been found that the home of bill and hillary clinton in chappaqua, new york. they have confirmed they are investigating. if you get more details we will get them fast. uber plans to go all electric in london. >> 20/25. and uber passengers 15 p. and and they are reporting criminal offenses.
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and they're getting back into good graces. >> and they decrease pollution. let's get back to politics. it is an opinion piece from lose peak titled how about trump haley in 2020? you think that is a good ticket? >> and negatively good ticket. nikki haley is a rising star, incredibly competent and trump's problem this year and in 2020 is women. he doesn't do well with women voters. almost surely he will be running against a woman whether it is liz warner, like harris or hillary clinton. chances are he will face a woman. it will be very advantageous to have a competent woman on his ticket who sometimes confronts and is not a pushover who can answer charges that he has
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mistreated women, misogyny or whatever. it will be a good combination. stuart: what is wrong with mike pence? >> mike pence has been an incredibly loyal vice president, stood up for the president in terms of turmoil which are frequent and mike pence, is a loyal footsoldier and is helpful with evangelicals in 2016 but that community is on board with donald trump now because of the additions to the supreme court. having put neil gorsuch on the court and brett kavanaugh trump is in good shape with the evangelical community and they know there might be more openings on the supreme court, they will not vote for democrats and would still come out for trump. stuart: makes a lot of sense. check the market please. this market today is all about big-name earnings reports which have not been exactly stellar and we have the dow, s&p and nasdaq pointing lower.
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think they will do it well in the future also. up went bowing stock, bowing is about stock so up went the future. we were up, going to be opening higher to the tune of 150 points. in came the other major companies with their earnings report. an entire rally collapse. we are opening the markets in a few seconds and i think it will be down. not much but down for early going. it is down 18. liz: swinging back up. stuart: who would have thought? we are up 57 points. ashley: forget everything we said. stuart: direct contradiction of the way futures were pointing. we were pointing down, now we opened and are up 55, 59 points. how about the s&p? where is that in the first half minute of business? that is down. down four points. how about the nasdaq as an
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indicator? it is down, down 0.17%. apart from the anomaly with the dow everything else is down. here are the companies which have reported profits before the bell, bowing doing very well up 10 bucks, 3%. at&t down 4%, a huge drop. ups is down 3%. another big drop. general dynamics down 11/2%. we don't have a quote on northrop grumman but apart from bowing the big names are down after earnings reports this morning. jack how, ashley webster, liz mcdonald, shah gilani. we have seen strong profits up 25% year-over-year but not today. will then drag the whole market down? >> i think it probably will. what is disturbing to me as we have seen big numbers come out,
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some of the stocks pop very nicely and they can't hold or gain so the market is bringing it back down. generally i would like to see these stocks hold up on the upside. the opposite is happening. stuart: some of these earnings reports are not what we were expecting. >> we have some statistical evidence building. that is not what the numbers are showing. the spread is tight between companies that beat earnings and miss earnings, this selling is not related to earnings. it is broad concern over the direction of the stock worker. ashley: the psyche of the stock market, people looking for clues with regard to china. we saw with caterpillar who had a terrific earnings report but because they talked about tariffs and added costs, that was enough to turn the market and turn the market. stuart: these are dow stocks which are winners.
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bowing is up 3%. visa, nike, united tech, they are up and clearly that is helping the dow industrials which are up 80. >> we have a sweet double-digit increase in profits but we are seeing rolling waves of sector correction, individual stock corruption, wind resorts down badly and 3 quarters of the s&p down 10% or 20%. >> biggest thing is the negative feedback cycle, the economic backdrop is pretty good. of people get anxious about stock market, they get to present in their bank accounts, something they haven't seen in 10 years so people might be tempted to take money if the market stays this rocky. stuart: have a look at target. they are going after amazon offering free two days shipping. look at amazon down $5, target down $.13. we will see a lot more shipping
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wars at the holidays. ashley: i don't think you could compete with amazon if you don't offer those incentives. >> everybody will try and promise but what i ordered from amazon is like a magic trick the way it shows up at my doorstep. i suspect there might be slippage there. stuart: what do you think of this? nobody beats amazon but executing their business plan and executing their online sales. >> they have to go up against amazon in terms of value proposition. a lot of prizes are similar to the value proposition comes down to delivery and it is like magical. targets of the world is walmarts have to compete on all those vehicles and delivery is a huge part of amazon's business. liz: we are seeing growing customer satisfaction with delivery of target and walmart. this will be hard for the holiday season.
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stuart: you compete over shipping. ashley: we are getting spoiled and expect it. >> target is being smart, they have large big-box stores they are using his delivery points and a few points for a product. they are going to increase shipping and compete with amazon and it is positive for the company and start of a long-term. >> apple's chief tim cook is pushing for new privacy laws for tech companies. is he taking a shot at google and facebook? >> we think about facebook but apple doesn't compete directly with facebook the way it does with google, so many categories, do two totally different business models, phones and computers and browsers and everything. the model at google is we will give it to you for free but we will make money off of your information. the model at apple is nothing is free, you will pay dearly for it but your information is
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yours. ashley: quite a swipe at facebook. tim cook has been critical of mark zuckerberg. liz: a powerful argument tim cook has about privacy but does he support the 4% penalty of revenue? that the eu was assessing? stuart: he will not say that. check the big board. we moderated the gain but still in the plus column, 47 points are, 25,200. better profits at hilton but sales, revenue fell short. stock is up 1% at $69. serious xm satellite radio people came in with a rosy forecast. that usually works wonders, up 1.7%. big names after the bell this afternoon. look at them free report.
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ford is down. microsoft is down. tesla is up big time. $300 a share on tesla. visa is down, whirlpool is up a little bit. a mixed bag until we get those results at 4:00 this afternoon. look up the price of oil, still close to a two month low, $67 a barrel. the salaries said they would up production. liz: do what it takes to disable the market and we are open to spigots which puts downward pressure. liz: when iran sanctions kick in, the trump white house wants to shut up he ran's oil. stuart: that means, shah gilani, we will not get $3 gas. will stay away from $3. >> will probably go down. the saudi's have a huge global problem in terms of reputation. internationally what they will do to appease that will be to flood the market with oil. last thing they want is the price of oil to go up and be
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blamed for that. they will flood the market with oil. stuart: amazon, the feds to use amazon's facial recognition technology to monitor immigrants. liz: this involves ice. no contract coming up yet but there was a meeting outside silicon valley orchestrated by mckenzie where amazon's cloud workers said yes, we want to tout facial recognition software to catch illegals to sell it to ice. it didn't go anywhere so far that we know of. remember the aclu did this test of amazon software and compared 28 members of congress, mugshots showed members of congress were criminals when that was wrong. aws amazon cloud gaining is trying to tout this and defend it, no contract. stuart: what about employees of amazon? they are not going to like it.
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liz: 450 amazon workers reportedly are against, are against selling the software. stuart: revolts. >> jeff bezos has spoken out in favor of doing business with the government, we are an american company and how long we have been talking about software eating the world on the commercial side. you better believe that is happening too. we could end up ten years from now with amazon being a really important player in defense because you need things like artificial intelligence. stuart: show me ford stock, down $8 a share, down again today at $8.55. they plan to test drive self driving cars in washington dc. ashley: ten will go into the street in february. stuart: four months away. ashley: driver behind the wheel in case things don't go well but their aim is to have these autonomous cars deliver passengers and make deliveries
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by 2021 across dc. ford pushing hard. >> gm is testing in new york city, forward in dc. i hope no one gets hurt but there has to be a bump or a minor accident, they could test these, take it easy in new york. stuart: shah gilani you have always been bullish, are you turning the corner and saying light up a little? >> i am. 81/$2 stock, almost 7% dividend yields. almost 7% dividend yield. you can't not to buy that stock. it is fantastic. best place to put your money with ford in terms of yield. stuart: so long as the dividend is safe and secure. >> they got the cash flow to keep it safe. they certainly have the ratings to borrow. they will keep the dividend safe. stuart: thanks very much, shah gilani, good stuff. check the big board holding on
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to a gain, 60 points higher, 25,200. look at tesla back to $300 a share. he was betting against the stock, changed his position. he says the model 3 is a proven hit and he is buying tesla stock. that is at 294. andrew joins us on this program at 11:00 this morning. the migrant caravans plural headed north. i want to know what we are doing to secure our borders when they arrive. i will ask republican congressman andy biggs from arizona. donald trump taking another shot at the fed. we will tell you what he said this time around. more varney after this.
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stuart: and update the breaking story. a suspicious package described as a bomb has been sent to and found at the home of bill and hillary clinton just north of new york city in chappaqua. however, given details on the latest. ashley: another package addressed the former president barack obama intercepted by the secret service in washington dc, the secret service saying the other package addressed to hillary clinton was also intercepted. the packages were immediately identified during routine mail screening. potential explosive devices were appropriately handled as such. on tuesday george soros, the billionaire philanthropist and hedge fund manager had a bomb on his property that was deactivated by the bomb squad. this is the third time we heard of a bomb being sent but these were intercepted.
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stuart: a major development. of the 5 either huge. stuart: expensive devices sent to two former democrats. ashley: are they all linked? liz: totally unacceptable, it is outrageous and disgraceful and an acceptable. stuart: toxic politics at its worst that bleeds over into violence and -- i have andy d pudzner. this is terrible. >> nobody should condone this. stuart: everyone should be saying absolute iran, don't do this. >> people have come out the emily saying this is wrong, shouldn't happen, this can't happen. the country is a divided there is so much anger, so much resentment it has to get toned down if we are going to make any progress. stuart: i want to talk about the fed and what the president said about the fed.
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here is the quote, what the president said about jerome powell who chaired the federal reserve. every time we do something great he raises the interest rates. the heavy-duty pressure from the president of the united states to the independent fed say don't do it but you agree with the president. >> we are raising interest rates too often. what interest rate increase in the entire obama administration in december 2015, stock market tanks, testament to the strength of the economy they are doing this but 6 times since the president has been elected, 7 time since the election, the eighth time since the election in december, too many too fast. stuart: isn't that what the federal reserve is supposed to do. when you have a booming economy you don't leave interest rates superlow because if you do you end up with inflation. >> we won't payout any weapons in your arsenal or arrows in your quiver when there's a recession and there will be a recession so we went interest rates to increase but if you increase too quickly will put
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the brakes on this economic growth that has been so spectacular so far. the president is working hard to see that continue so he gets upset when he think interest rates are being raised too often. stuart: should he be saying this kind of thing? >> the fed remains independent. the fed chair has a four your term and you can only be terminated for cause. much like when president obama criticizes up in court decision in the state of the union address. the supreme court is independent too. nothing wrong with criticizing what somebody else is another department does. it is different from politically -- he is not running for office. stuart: we haven't seen this before. >> it doesn't bother me. stuart: you don't think we face inflation? >> we have a inflationary threat, we raise interest rates slowly, we will hold that in check. we have much stronger economic growth than the 3.1 cbo is predicting this year without
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huge inflation and we have room to grow. wages are going up. the economy is doing so well. let's not kill it in its infancy. let it grow a little. stuart: we hear you, thanks for being with us. check the market. we are on the upside with the dow jones average, we are up 60 points and it is a real even split between winners and losers among without 30. a new report finds 40% of all student loan borrowers could default on their debts in the next 5 years, 40%. next we talk to millennial who says sadly most people in his age group just don't care about this problem.
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stuart: i repeat and update breaking news of the day, suspicious packages, believed to be bombs were sent to the homes of bill and hillary clinton, barack and michelle obama. the fbi, secret service are investigating and any further details we will bring it to you. bonds to two former president not god. politics in the midterms, can you tell us how millennials are going to vote?
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>> the question is if they are going to vote. the democrats take for granted young people vote for democrats they will come out in waves in record numbers in the midterms and i don't think that the case. i talked to thousands of young people in the past year on campus reform on different campuses and a lot of them feel disenfranchised by the democrat party. a lot of young bernie supporters on the left still are angry at the democrat party for the way they handled the convention and feel bernie -- that will play a role and a lot of people in the middle are looking at the democrat party is the party that cried wolf. they were told the last two years the world will end if neil gorsuch is nominated brett cavanagh is nominated, people die, the world will end. that hasn't happened. resulted rhetoric are not aligning. more young people are not trusting the democrat party. stuart: a lot of won't turn out to vote but those who do turn out to vote are they voting democrat? mostly? >> there is overwhelming pressure for young people to go
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to the left. young people see what happens to conservatives and republicans around demand how they are threatened and ostracized and they fear that. i do think there is more unity in the republican party. on the right it is much easier to unify around donald trump and the accomplishments that happened in the last two years. on the left a big division between hillary clinton establishment wing of the party of the socialist new age wing of the party. that division will cause trouble in the midterms and democrats have been the resistance party. what are they for? they can't say here's what we are for. all the things they are against. that will impact turnout as well. stuart: what do you make of a report from the brookings institution who save 40% of student loans will be in default? that is an astonishing number. >> one of the biggest problems no one in america wants to talk about. the number of student loan debt
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is higher than the gdp. that is how much there is. i wouldn't be surprised if 104%, an op-ed in the business daily talking about ways to solve this. it starts with incentivizing universities to make costs lower and making people realize what loans default it will be average taxpayers footing the bill. >> because of a suspicious packages sent to the homes of obamas and clintons. joining me a stephen rogers, former officer of the joint terrorism task force. is this a terrorist incident? >> what will happen, the fbi, law enforcement authorities are going to do a forensic analysis of both packages and try to find out to see if they came from the same person. they will be able to trace a lot of information based on where they trace the material
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that so it could be a terrorist attack. we have a lot of people who are unstable in this country and if this is someone in our country doing this this is bad. stuart: we are told the explosive device found at the home of george soros is similar to the one found that the home of the clintons. does that imply some kind of single person doing all of this? >> it certainly does. a single person or perhaps a couple of people making these devices. stuart: doesn't sound like they are very sophisticated devices. >> not at all. could be a single person, could be two or three people trying to commit, regardless how you say it, a terrorist act. unfortunately, there may be more packages and more people and we have to be very careful. stuart: a rotten situation, terrible development, thanks for joining us as an appropriate moment, appreciate
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it. we will bring you up-to-date on these developments as they occur this morning. there is another caravan forming. migrants gathering in guatemala this time on the border with honduras. democrats caravan problem seems to me. the democrats problem and it got worse. my take on that is next. how many people are in the car? ♪ ♪ ♪ ♪ ♪ ♪ . .
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stuart: we're following the breaking news story and it is this. the secret service confirms two suspicious packages, one sent to the home of bill and hillary clinton in suburban, new york, one sent to barack and michelle obama in d.c. anything more? ashley: law enforcement saying packages, certainly the one to hillary clinton, the former first lady is similar to the one sent to george soros, the billionaire hedge fund guy that was sent to his home opened by an employee. we're told a technician who screens mail for bill and hillary clinton discovered the
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explosive device at their chappaqua home. the one addressed to former president barack obama was intercepted during routine screening in washington, d.c. so these packages actually didn't get to the recipients but very disturbing indeed. if there is a connection between three now, three explosive devices. stuart: two sent to former presidents and one sent to mr. soros? ashley: exactly right. stuart: a rotten situation any way you slice it. ashley: absolutely. stuart: okay. we'll have much more on this story, i promise you, as it develops. now this, it was predictable. yes, it is happening. another caravan is recall toking. migrants are gathering in guatemala in a city in guatemala, right on the border with honduras. they plan to head north into mexico and then on to our border just like the first caravan. the democrats caravan problem just got worse. they are very reluctant to say what they will do when the
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marchers reach the u.s.-mexico border. instead after policy statement the left snipes at president trump, implying he is scaremongering and dividing the country. another impromptu q and a session at white house yesterday reporters took issue with his assertion that middle earners and gang members were mixed in with the migrants. they took issue with the democrats were behind it all this question something distraction. the real question is, what is america going to do, now we're faced with a mass migration of people from central america. let them in or keep them out? the president's clear. they're not coming here. he will put the military on the border. he will close the border if necessary. of course, i mean this, there is a humanitarian issue here. who wouldn't fell sympathy for poor women and children struggling along 1000-mile journey in the heat of central mexico? americans are generous. we take in more immigrants than any other country in the world, and our response to the caravans
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should reflect that generosity. but central america's dire traits cannot be used as an excuse to bus through borders on a mass scale. this is what the left is encouraging. if that is what they want, they should say it but they won't. in 2005 barack obama is on tape saying we can't allow undocumented people pouring in. my, how types change. democrats are not saying that now, because they know america does not want an open border. it is president trump who has the political courage to say it. the second hour of "varney & company" is about to begin. ♪ another breaking story we're following for you, saudi crown prince mohammed bin salman he is about to address the davos in the desert conference, the
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international investment summit near riyadh, his first public comments since the death of jamal khashoggi in the saudi consulate in istanbul. we'll monitor his speech and bring you any headlines. we received numbers on new home sales. liz: disappointment. 553,000 annualized. they were looking for 629-k. stuart: year-over-year? liz: 5.5 is month to month down. stuart: real trouble in the real estate market. liz: a four-month decline, stuart, hurricane florence, yes, but the mortgage rates going up, prices going up, now the average sales price is around $388,000. so, people may be getting priced out of the market, not stepping up. stuart: you got it. thank you. look at the big board. we turned to the downside again. we're off 18 points, look at that, 25,100.
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we got very strong numbers from boeing. that stock is up 3%. that separating the dow industrials, but not that much now. several other big names reported numbers today. at&t, their profit fell short. the stock is down sharply. look at at&t, it is down 5%. same story with general dynamics and also with ups, big declines, five, four, four percentage points down. how about the big techs? they have been beaten up recently. they were down yesterday and all of them are down again today. facebook, amazon, apple, alphabet, google, microsoft, all of them on the downside. we'll get to the caravan. got to get back to that i look at this headline. look at the caravan's actions and you will see their wicked intent. the author of that headline joins us now, arizona congressman andy biggs. okay, do you see a national security threat in these two caravans that are forming and coming here? >> yes, i do. i sure do. stuart: what is it?
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>> bell, what it is they will try to overwhelm our border and defeat the very idea of national sovereignty. this is going to the idea of nations without borders. this is the idea of america should open its borders to anybody and everybody. i think that is a national security threat. we don't know who is in this group. we don't know who is coming, we don't know how we will deal with them if they get here and able to come into our country. i think that is a national security threat. you do it once, six months ago, it gives birth to additional groups. who is to say put together a quarter of a million people to migrate up, who is to say that wouldn't happen? stuart: gotcha. how about the humanitarian aspect here? i do have a lot of sympathy, empathy for the women and children on this march. i don't know how many women and children are involved but they are there. what should we do with that group of people? >> well, i'm with you on that. for everybody who is coming up,
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who wants a better life but, we should work with the nations which we have been doing, stuart. we have been providing literally hundreds of millions of dollars to these three nations guatemala, el salvador and honduras we provide hundreds of millions of dollars to mexico every year with much of that supposed to be going for humanitarian aid, yet somehow, it never seems to stop this flow of migration. so what we need to do, we need to encourage these nations to do what is right. we need to put pressure on them, put pressure on mexico. you know it, but we can't bring them into our country because that would defeat the purpose of having a border. stuart: real fast, congressman, will you join me in condemning utterly and out of hand these explosive devices sent to two former presidents? i think that is toxic politics at its worst and you? >> absolutely. it's terrible and we see this every day, i was telling someone
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we see it every day in the capitol where there is suspicious packages. it has got to stop. dialogue is one thing, but this is ridiculous. stuart: congressman, thanks for joining us. we appreciate it, sir. >> thanks, stuart. stuart: let's turn back to the markets. the dow turned negative again, we're off 24 points. do we have news from the fed? ashley: we have from fed president rob kaplan, he is of the dallas fed, written an opinion piece, essay, he supports rate hikes put in place up to now. he supports moving slowly what would be considered neutral. he says whatever neutral is up for debate but he believes that a run-up to that point, some point in 2019 is appropriate. he says, and he also believes we should have a rate hike in december. he is not a voting member but we're told his voice does count and it can have impact on market. nevertheless, he is supportive of rate hikes.
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stuart: need help covering the markets. come on in, brian belski, bmo investment strategist. seems to me the earnings reports which were supposed to give us a second leg up on the market are just not coming through the way we thought. what say you? >> well, you have to remember that we are a market of stocks. and there are some companies that have had exemplary earnings. it just seems to me, stu, that there was a predominant negative tone coming into the quarter and there was this vacuum of no news, and most portfolio managers thought, they believed consensus negativity and rhetoric earnings wouldn't be great so they started to act on that. we've had really great companies, i'm sorry, really great earnings from some of the best companies in the world and we're reacting and shortsighted, worried about next quarter. i think still the next couple weeks could be dicey, people are still worried about the midterms. they're sitting on their hands. we saw that in new home sales. i think things are just on a
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very short-term basis too reactive and too negative. stuart: there is a cloud negativity, because it is october, here come the my terms. there is china. there is italy for heaven's sake, you add it all up, we're not in a position to go for another leg up on the market at this point. that's roughly accurate? >> i think it's a bit more of a buyer's strike, right? people are not really willing to commit. to me everybody wants to try to compare to the "flash crash" in february. we're so shortsighted, we lack such perspective. i think it is '97, '98, that type of an event. we had things going on, we were still in a very strong bull market, this is a correction within a secular bull market. this is not a bear market correction and i think it is just deplorable, stuart, people do like i do on tv, talking in the press, see the market had to go down, this is good for the market. it is never good when people
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lose money, number one, number two, america is still the strongest company in the world, with the best companies in the world. we have opportunity to buy stocks a little bit cheaper, in the best earnings environment we've seen in 50 years. stuart: that's interesting. you're not panicking. >> no. stuart: you're not saying switch out. you're saying hold on, just hold on for a while? i'm an investor. we should all be an investor. majority of my clients on institutional side, stuart, so shortsighted, turnover in portfolios how many changes they make this year, highest in generation, we as equity investors are playing defense. we're worried about losing our job and overall money from etfs taking money from equities. do your job. buy the best companies in the world right here in america. have bigger position in the great companies. some had great earnings like boeing, right? this is one of the best companies in the world. we think it is underowned type stock in particular. we think that is what will carry
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us out of this quote, unquote malaise. stuart: nice job of hand-holding for our viewers there, mr. belski. that was pretty good. >> thanks, we'll take it. >> thanks for having us. stuart: yes, sir. we have a big hour coming up for you. a lot of breaking stories here. we're following the suspicious packages sent to the homes of bill and hillary clinton and president obama. charlie hurt will deal with this for a moment. for months we're hearing about a blue wave in the midterms. we'll talk to the head of "real clear politics," he says that is becoming less, and less likely. the gop might even keep the house. he will make his case. president trump want as a space force approved by congress by next year. i want to know if that is going to happen, especially if the house does not stay republican. i will ask the congressman tasked with making that a reality. you're watching the second hour of "varney & company." ♪
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stuart: where are we? we're 45 minutes into the trading session, heading south again. 25,100 is where we are on the dow. that is a loss now of 37 points. target going after amazon right before the who say season. they're offering free two-day shipping. target up in otherwise down day. look at this, a rosy forecast from sirius xm satellite, up 1 1/2%, $6 a share. got to get back to this developing story here. a suspicious package described as a bomb found at the chappaqua, new york, home of bill and hillary clinton. a suspicious package sent to president obama. the white house released a statement saying what, ash? ashley: get right to it. we condemn the attempted violent attacks recently made against
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president obama, president clinton, secretary clinton and other public figures. these terrorizing acts are despicable, anyone held responsible will be held accountable to the fullest extent of the law. united states secret service and other law enforcement agencies are investigating, will take appropriate actions to prosecute anyone responsible will be held accountable to the fullest extent appropriate actions to protect anyone threatened by these cowards. >> it is sad. just on the face anyone would be threatened in the first place. beyond that, the idea that politics has become such a huge part in some people's heads, whether it's really serious things like these bomb threats or, rather the alleged bomb packages. or whether it is the shooting of
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steve scalise last year, it is really terrifying. you see it in little ways, you see the people sitting in restaurants. the politics overtakes everything and they get up and they start shouting in a restaurant? stuart: yay. >> it is unhealthy. stuart: but you're right, charles, you put it just right. politics is in everything today. >> yeah. stuart: whether it is, you go out to eat for dinner and you better watch out for politics. you take a seat on a plane, watch out for politics from the person sitting next to you. it is everywhere. it is in a nasty, toxic way, it has infused itself into every single conversation we have. i don't like it. >> i don't either. the real problem is, you know the whole idea behind this experiment of having a government like ours is to, is to put politics aside so that, so that all it does it protects our freedoms to do all the things we really want to do, whether it is be with our family, work, or have hobbies.
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stuart: yes. >> it is not supposed to be the central focus of everything we do every day. we're not supposed to drink eat and sleep politics. it is supposed to do there to protect us so we can do the things we want to do and have the conversations. stuart: i used to say that it remind me of 1968. but i changed my mind. in 1968, there were violent street demonstrations the left took to the streets, we elected a a republican richard nixon. now it is not one-on-one explosive confrontations and two explosive devices delivered to ex-presidents. this is worse when it is personal one-on-one. >> but i also do think it is sort of underminds whatever these people are trying to accomplish by doing that i don't, i don't think it is going to work, i think really what it does, it sort of resolves people in the other direction towards law and order. and which is of course what we
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saw after '68 as well. and i think that, you know, not only is it evil and wrong and despicable but it is counterproductive for these people. stuart: well-said. ashley, what have you got? ashley: the offices of cnn, time warner center here in new york have been evacuated. report of a suspicious device. the officeses of cnn just down the street from us, time warner building, have been evacuated on reports of a suspicious device. stuart: there you go again, charles, not much to add to this, not just one or two or three devices. it's another one now. >> and of course the other thing is, in today's world where there are cameras everywhere you think we'll not be able to find out if these devices are we think they are? you think we'll not figure out exactly who put them there? "the unabomber" today could not exist because we have cameras everywhere. stuart: yes we do. i'm very aware of them actually. charles, hold on for a second. i have got more for you later.
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i have to take a commercial break. dow industrials are down -- hold on a second. i have chris swecker on the phone, former fbi assistant director. mr. swecker come on in please. >> sure. stuart: what can you add, explosive devices, packages found in to two former presidents, cnn, george soros, sounds like a terror incident to me, how about you? >> that is the way the fbi works on that premise, this sounds like -- first, we don't have much information and that's normal in the early stages of this type of situation. we had a lot of this post-9/11. a lot of hoax bombs. we had powder, we had all kinds of things coming in. that is why mail screening centers became more proficient and more prevalent out there. i'm sure cnn and the two ex-presidents have very robust
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mail screening. that is probably what saved the day here. stuart: doesn't sound like these devices are particularly sophisticated, and therefore i would suggest that, we should apprehend whom sorry is responsible, relatively quickly. what say you? >> i would say yes. fingerprints, hairs and fibers, dna, we've got great forensic tools available, certain type of toolmarks, we can identify tools based on unique cuttings, markings. as you mentioned earlier, cameras are everywhere. stuart: they are indeed. i have to tell you, chris, i will round it out with this, i think this is the worst news of the week, possibly the month, possibly the year, to see america descend with this is awful. you agree i'm sure. >> i do. you have to hope there is one demented individual, somebody off his rocker, not some
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organized group. i am sure the fbi will treat this as an domestic or international terrorism attempt. stuart: chris, thank you for the short notice, we appreciate you being with us today. chris swecker. >> thank you. stuart: the saudi crown prince. crown prince of saudi arabia is speaking in riyadh. we'll talk to someone who says president trump hasn't taken enough action to punish saudi arabia. first, though, a blue wave, question mark? apparently not quite? the head of "real clear politics" says there is plenty of indication this will not be the case, no blue wave. he says the gop even would even keep the house. he will make his case on this program next. ♪ alerts -- wouldn't you like one from the market when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time.
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we show the duhdow industrials with a loss 43 points. we had volatile couple days or couple months. jason rotman, lido isle advisors. jason you come to two stocks you like to buy that you are buying in these volatile times and the first one i believe is hershey, the chocolate people. make your case. >> yes. well you know hershey is an interesting one. hershey is one of the leaders, not only in historically, obviously global food, you know, production with the bar and so many other brands, what they're doing in addition to major conglomerates, nestle, et cetera, they're eating up, pun intended, the competition. they're buying new emerging health brands. they are adding hundreds of millions of dollars to hershey's bottom line. hershey is doing something forward looking innovative, the stock is going up in the face, directly in the face of this recent volatility.
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i love the idea right now of buying hershey today. stuart: these are the kind of stocks we like to hear about. number one, hershey, number two, verizon, make your case there, please. >> verizon everybody knows who is involved in the market verizon has a juicy dividend. right now if you just buy and hold verizon you're getting paid 4% per year, more than the 10-year bond, more than the 30-year bond and verizon is hitting, i think yesterday they hitting 18-year high, in the face of the market correcting 200 points down in the s&p. so these are two stocks that could hold up your portfolio. stuart: you got it. now, another thing, i read your stuff. you're also saying that the s&p 500 will continue to fall, may drop, what, another 100 points. i think you said 100 points down. is that by the end of the year. >> one, zero, zero, yes that's correct. it is impossible to actually predict when something is going to happen and i look at the charts and i look where institutions are buying and selling.
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they obviously control the market and i see the next major area, what i call a demand zone, 100 points lower. that is what the charts are telling me. you can make money on the way up with certain stocks and you canwell make money on the way down. stuart: what i like about your ideas here, the dividend play. times of volatility it is great to invest in a company which will pay, four, five, even 6%, that return is guaranteed. you might even make a capital gain as well. i put money into the blackstone group because it yields 6.25%. i'm told that ford, ford motor company at $8 a share, has a 7% dividend yield. how about that? >> yeah, exactly. people made tons of money, stuart, in 2009 buying incredibly underpriced value stocks. that still were paying dividends. now since the crisis, the stock prices appreciated and now they're getting essentially, 10, 20% per year dividends because they bought correctly. the dividends didn't go away because they're great companies. stuart: jason, appreciate the
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information. great stuff indeed. >> my pleasure. stuart: thank you, sir. check the big board for a moment. we're still down. it is not a huge selloff, look at that level, please, 25,130. we are, what is it close to 1000, 2,000 points from the all-time high. october has been a rotten month. that's a fact. we have the price of oil as we speak at 66, $67 per barrel. we're just getting some numbers on oil supply. what have we got? ashley: jeff. stuart: jeff flock at cme. >> i got them for you, stuart, bigger build than we thought. go right to the numbers if you would, tomas. weekly crude, 3.7 million of a build, we got 6.3 billion. a much bigger build on cities till last and gasoline as well. that is good for gas prices coming down. that means oil prices potentially coming down. but actually right after this, actually oil has gained about 10 cents. so maybe the market was thinking that was going to happen.
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i guess we'll find out. good news if you drive a car. stuart: well-said. ashley: by the way, that is the fifth week in a row that the inventories have built, which is also a slowing global economy, a bit of a story as well. stuart: american economy. ashley: well that is true too. demand bottom line is dropping. inventories are going up. plus there is saudi arabia. stuart: saudi arabia. that is interesting. we're at 66, $67 per barrel for oil. okay. do we have that live shot, kc? okay, all right, we're following this developing story of suspicious packages found in various parts of the country. we're following it for you. we'll bring you update as soon as we possibly can. i want to bring in tom, i want to bring in tom bevin, he is with us now. is that right? sitting next to my, we're bringing him in right now. "real clear politics" cofounder, president thereof.
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welcome to the show. >> great to see you, stuart. stuart: i read your stuff. you said this is not a blue wave election. this is new. >> well it, listen, if you were talking about a blue wave you would expect it to be cresting, right? if a wave was coming you would expect it to be build, building, 13 days out from the midterms that is not what i'm seeing. president's job approval rating going up. generic ballot number holding, democrats in the advantage but not building. certainly in some of these swing districts we're seeing sort of a hand-to-hand combat, race by race battle in these house districts around the country. obviously in the senate, it seems to have moved into the republicans direction. put all the components together. democrats may still win the house but certainly not shaping up to be sort of a big blue wave that will wash everybody away. stuart: i want to tell our viewers, you follow all of the polls, and you average out the polls that you respect.
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>> correct. stuart: that are solid polls. >> correct. stuart: you average them out as time moves along. one other thing you're saying is it is within the bounds of possibility that the gop keeps the house, within the bounds of possibility? >> sure. stuart: that is interesting. make your case. >> we've got right now, the range that we see in, we got about 70 or so competitive races around country. range of pickups from the democrats, anywhere from 10 seats to 41 seats with an average pick up of 25 1/2. that would be just over the number they need to take control but, with a small shift, it is certainly within the possibility, range of possibilities that republicans could hold on to the house. stuart: that would be dynamite, wouldn't it? regards which side of the aisle you're on, in a midterm in the first term of an american president sy does not go against the sitting president that would be something contrary to history, wouldn't it? >> we had a couple elections in
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the past but they're certainly anomalous. we're certainly in whole new world in post-donald trump 2016. the country is divided. growing more divided every single day. we're seeing kavanaugh effect further divided country. the gender gap wider than it has been in any of these races. we have education gap, rural, urban divide. we have a lot unique to this presidency. stuart: can you make a direct relationship with the president who goes out on these huge rallies, really whips up his base, is there relationship between those rallies and the polls that appear immediately thereafter? >> not necessarily. you know, we've seen him go all over the country. hears been to west virginia seven times. joe manchin is up. he has not moved needle for patrick morrissey. he went to second sass. ted cruz is doing fairly well, ahead by five to six points in the average in texas. if he is able to galvanize the
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republican base in states like mon mon mon -- montana, nevada, that could be very hard to say. trump showed up and say two days later we saw a bump in the polls. stuart: here is what i'm hearing, a view often expressed on this program, it's a toss-up whether or not the gop keeps control of house, a toss-up, to close to call at this point but a lot of people are saying the gop will extend its majority, increase its majority in the senate. do you go with that? >> we have a feature on "real clear politics" website, it is our no tossup map, it allocates the states based on where pole averages stand, as of right now the republicans would pick up two senate seats. would expand margin by two senate seats. a couple weeks ago no change. couple weeks ago, prior to that democrats were looking to gain a seat. gop, looks like the gop, worst case nair scenario they stay
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where this they are. that could go depending on whatps ha next two weeks. a lot of races are very tight. stuart: you have 13 days. a trend is developing. tom, thank you for being here. we appreciate it. we have an update, ash? ashley: comes from our colleague john roberts of fox news. he says that the secret service is telling him that reports that a suspicious package have been found in the mail destined for the white house. some media outlets saying another suspicious device sent to the white house, simply not true. they have intercepted two suspicious packages, one addressed to the clintons and one addressed to former president obama. stuart: thank you very much. charles hurt still with us. charles, change of subject here. i want to talk to you about the president who promised tax cuts for middle income families. listen to what the president said. roll tape. >> going to be a tax reduction of 10% for the middle class. business will not enter into it. and this will be on top of the
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tax reduction that the middle class has already gotten. stuart: charles, that is kind of a promise, isn't it? vote for me, keep the republicans in control of the house, and you get a tax cut. otherwise known as a bribe. >> the key thing there is it won't happen unless you vote for republicans and republicans keep the house. that is the important thing up trump is making there. i saw your interview tom bevin is absolutely fascinating. the point, the problem has always been with donald trump, how does he convert the enthusiasm for him into es enthusiasm for other republicans. he had some trouble with that. can do it with primaries, no problem. doing with general election tougher. that is what he is doing there, trying to say, doing a tax cut. you have to vote for republicans so they keep the house. the other.
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what i riley like hearing him talk about is cutting size of government. there is a successful company in the world at a moment like there wouldn't be slashing their spending, in all corners of the federal government. but, the most electric issue for the people that donald trump needs to get out, not only for him, fellow republicans is illegal immigration. he needs to stay focused on that. and treat this caravan as a sort of unwelcome blessing where he can talk about the fact that our border laws are insane and all that blame goes to the feet of democrats and republicans but congress. and if he doesn't have allies in congress, that is not going to get fixed. stuart: kind of october, the caravans, plural, are a october surprise in reverse. that is the way it is actually. charles, out of time. huge developing stories here. thanks very much for being with us, sir. >> thank you, stuart.
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stuart: this is a live shot of the time warner center in new york city. it is cnn headquarters. reports of a suspicious packages, on top of packages sent to the obamas and clintons. this is a developing story. we'll bring you more details as we get them. live shot, new york city. back to your money please. let's have a look at big tech names. they made all the running last two years. they have been down recently. they're down now. microsoft, one of the names on that list there, which is down at the moment. they're going to be reporting their financial reports, results after the closing bell today. that is the big one we're watching for you. we are also seeing reports from ford, tesla, visa and whirlpool. they all come out, by the way all of those stocks are down as we speak. now this, one lawmaker working to classify marijuana as a schedule two drug.
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that would allow you, would allow the banks to finance the marijuana business. it would allow research to be done on marijuana. congressman in question is dana rohrabacher, california guy. he will make his case in our next hour. first though, president trump wants a space force approved by congress by next year. not going to happen if the house goes democrat. i will ask the congressman tasked with making space force trump a reality. ♪
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♪ ashley: we continue to cover breaking story of suspicious packages, possibly explosive devices sent to both clintons, home of the clintons on the right-hand side of your screen in chappaqua, new york, north of city. on the left-hand side of your screen, that is columbus circle where the home of the time warner building, home of cnn. cnn offices were evacuated because of reports of a suspicious package. we should report that intercepted by mail screeners of a suspicious package sent to the home of former president barack obama. we have three separate incidents. we have a statement from the white house. they condemn the attempted violent acts. they say the terrorizing acts are despicable and anyone held responsible will be held fully
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accountable. this is developing story. we'll continue to bring you the latest right after this.
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- at afor the financialt's time world to stop acting the same old way. you need a partner that is willing to break free from conventional thinking. we are a different kind of financial company. we are athene, and we are driven to do more. stuart: let's get to the space force. our next guest is vice president pence's guy in congress, in charge of making the space force a reality. alabama congressman mike rogers with us. congressman, president trump wants to space force approved by congress next year.
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very short time frame. if the democrats take the house, it is not going to happen, is it? >> i think it is still going to happen. first of all we've been working on this for over three years. we passed this out of the house last year calling for the space force. the democrat members of our armed services committee are just as supportive of this as we are. this came out of my subcommittee that i chair without a single dissenting vote. ranking democrat, jim cooper of tennessee feels just as strongly about this concept as i do. and the rest of the armed services committee. we have real threats from adversaries rise up to meet and space force is only way to do it. stuart: president trump i believe said he might put nukes in space. might be the operative word. but what do you make of that? >> well you never hear me talk publicly what we will and not put on our national security satellites but we do have adversaries russia and china,
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they have offensive capabilities that are meaningful that we have to deal with. they have to understand that our offensive capabilities are dominant. they had better never have any offensive action against our satellites. we'll make them wish it didn't happen. stuart: summarize you think they will get the space force in place, authorized next year. that is what is going to happen? >> i do. move on the caravan. look for this tweet that came in from president trump this morning, read it for you. for those who want and advocate for illegal immigration. take a good look what happened to europe over the last five years, a total mess. they only wish they had that decision to make over again. as you know, congressman, a second caravan is now forming to come up here. do you think this represents a national security threat? >> of course it does.
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we have to have secure borders if we have a nation. we have to remember the border, being porous, is not about migrant workers coming in for a better life. we have real bad actors coming across our border, on a regular basis. we have to stop it. people who are gunrunners, drug traffickers, sex traffickers and terrorists, people who mean us harm. we have to be able to secure the border. the president is absolutely right. this has got to stop. stuart: but, i mean, can we stop this? what we're looking at here, is a mass migration. i mean it is quite possible that tens, even hundreds of thousands of people from central america will make their way to our border. that is what we're facing. i, i call that a real crisis. very similar to the one that hit europe in 2015. >> right. and, the president's right. europe wishes they could do that over again. they would have handled it differently. these are the most obvious incidents we have to rise up and stop.
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the daily smaller elements coming across the border. there conning, harder to find. when you have 7, 8,000 people coming across, it is harder to plan where they are going across and we have to stop it. stuart: they plan to put one foot in the united states, claim asylum and they're in, they will never go away. that is what we're facing, isn't it? >> exactly. we have to change that. this is going to take some statutory action. i'm hopeful we get that done in the next congress, because we now realize how stupid it is. stuart: you never get it done. you can't get it done unless you have democrat support. you don't have democrat support. they will never support you on this. >> you may be right. but we got to try. stuart: yes, sir. congressman, thanks very much for being with us this morning. we really appreciate it. thank you, sir. >> grad to. stuart: to the market, to your money. we're down 100 points. look at that we're at the 25,000
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level, down 119 to be precise. big story we following for you. suspicious packages to sent to cnn headquarters in new york city. the clintons in suburban in new york. the obamas just outside of d.c. we're all over this one. it's a big story. more "varney" after this. ♪ ♪ our new, hot, fresh breakfast will get you the readiest. (buzzer sound) holiday inn express. be the readiest. gimme one minute... and i'll tell you some important things to know about medicare. first, it doesn't pay for everything. say this pizza is your part b medical expenses.
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stuart: breaking news. we've been covering for you, cnn's headquarters have been evacuated. reports of a suspicious package there. that will be on top of packages sent both to the obamas and the clintons. the cnn center, right in the middle of new york city, very close to central park, it has been evacuated following a suspicious package. a former special agent with the secret service, he has worked with all of the presidents for the past 30 years. robert, i take it all former presidents have a screening service for anything sent to them. that is how they caught the package going to the obamas, am i right? >> absolutely. once they get out of the white house the secret service sets up a screening process, usually not close in proximity to the houses themselves where they are going to live. each and every package or mail are screened before the protectees ever get them. stuart: you have the same
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information that we do, which is, that these two suspicious packages were sent to two former presidents and george soros and that they appear to be rather amateurish. now, i'm making that judgment not knowing much about explosive devices but will you back me up here? >> yeah, absolutely. i think that is what we see in a lot of these situations, that you know, people can just go on the internet. you know that, stuart. you talked about it. what is being put out there in this atmosphere i think we have to look at why this is happening. the amateurs, people that want to just disrupt our country in the process. this is what we're seeing because of that. stuart: i think it is important to make the distinction between an organized, professional, if you like the word, terrorist group versus amateur hour, people, individuals, perhaps, just getting involved in the toxic politics of the day, but it sounds to you like
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individuals, amateurs, getting involved in toxic politics. either way, this is a distressing news development, robert. >> absolutely. it really goes to the heart of what who we are, what we're going to, on top of a little over year ago congressman scalise almost killed. so we're seeing more and more of this. you know the secret service really has their hands, and their eyes and ears cut out for them in this process because of what is going on in the atmosphere. stuart: robert, thank you very much indeed. i will turn to ashley here. ashley: yeah. stuart: i was talking about amateur hour. you can back me up with the package that went to george soros. ashley: there was interesting article in "the new york times" about the george soros device. the former presidents have screeners, as you just discussed. for george soros there is no screener. the package picked up by an employee in catona, it was so
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crude, it had gunpowder residue on it. the employee took it out to the woods. the bomb squad went out there. it couldn't detonate itself. they had to blow it up with something else. it was incapable of blowing up itself. john roberts says there is no package sent to the white house. cnn is continuing to story. a suspicious package with a pipe bomb that went to the white house was intercepted in joint base in washington, d.c., similar ones sent to the clintons, obamas, george soros, cnn which whose offices have now been evacuated because of a suspicious package here in new york. stuart: any way you slice it, rotten story. terrible. liz: terrible. agreed. stuart: check the big board, we move ad a bit further south. we're right around 25,000, with a loss of 1150 -- 115 points as
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stuart: good morning from everyone. 11:00 you're in new york city. we have breaking news or the secret service is investigating a suspicious package addressed to hillary clinton, just hillary clinton in new york. the secret service intercepted the package before it reached her home. bill clinton was at home at the time. hillary was in florida. the package never got to the home. another suspicious package addressed to president obama's opposite washington d.c. again, secret service intercepted it before it was delivered. then there's this. time warner center in new york city where cnn is located, that is their headquarters in the city has been evacuated this morning because of reports of a suspicious package discovered there. all of this comes after someone left a bomb outside george soros home near new york city earlier
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this week. not far from where the clintons lived. no one was hurt, but a spokesperson for soros is now urging politicians to, quote, tone down the rhetoric. blake burman is at the white house. the white house has released a statement. why do we have? reporter: may have feared it appears at least a link or possible connection with soros earlier this week. the former secretary of state, hillary clinton and the former president barack obama or the white house released in a statement within the last 20 minutes or so with the strongest condemnation possible from press secretary sarah sanders. she says the following. we condemned the attempted violent attacks recently made against president obama, president clinton, secretary clinton and other public figures. terrorizing acts are despicable and anyone responsible will be held accountable to the fullest extent of the law. the united states secret service united states secret service and
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other law-enforcement agencies are investigating and will take all appropriate actions to protect anyone threatened by these cowards. there have been a couple reports out there as well that the white house received one. full stop we are told that was not the case at all whatsoever. when he lifted each each one of these events, george soros while he is a public figure obviously it is not receive secret service protection like the clintons and the obama steer. that device reached his home, reached his mailbox. as it relates to clinton comment or mail is processed in westchester county. that specific suspicious device never made it to the home of the clintons. president obama still is washington d.c. the mail for the president is processed over at andrews air force base. that mail never made it to his home. nonetheless, incredibly scary event that happened or at least tried to target these public
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figures. many of them within just the last two days here. stuart: well said, blake. this is a disturbing story when it listed devices are sent to two former presidents. blake are men of the white house, thank you indeed, sir. back to your money. the selloff again. the lower the day printed out industrial now down 164 points in two thirds of 1%. right up to 25,000 level. boeing was a bright spot today, still is. try to lift the dow because he was a dow stock. other times, but still up five bucks, 1.5%. tesla's stock on the next pop yesterday after a short seller in true love says he the stock is going to rise. he thinks it's going to go down. now she's a fan, thinks it's going to go well. andrew left is the founder of state-run research and he joins
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us now. andrew, very good to see you welcome back. tommy why you changed your mind. >> i just thought it was very dangerous going into this quarter. musk moved up his earnings call this week for next week. the same day ford was doing their earnings. the model three became a big hit and it just seems right now if that interest is a very short and must have a lot of interest in making the stock higher to around 359, march so debentures become security. it was a very dangerous short. if you take the crazy antics of musk and put it aside from in the business is doing quite well. stuart: that's what i was getting out. you believe the basic business of tesla is going to be okay. absinthe must do whatever he's doing, the business of health is okay. that is what changed. speed how about this if it's not going to be okay at would've
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been against the guy right now. probably abettors shape right now for the past few years because of the success of the model three in the agreement they have to start building a plant in china and they really started to hit stride. i just don't think the big shareholders are going to sell. if they haven't sold the past three years they won't sell this quarter. at the risk reward it looked promising because tesla is dominating the competition. mercedes, audi, bmw and even toyota and honda. they really are just smashing it. stuart: andrew, i want to talk about investing in the marijuana business. last time you were on the show you're considering launching a marijuana fund as i recall it. i've got to put it to you. what you want, which you need to make a marijuana fund fly as the fed changing the classification of air water from a drug with heroin and to a lesser tier.
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that is what you really want, isn't it? >> mr. varney, you forgot i'm a sure fella. when i was on the show last time i thought the inflated stocks were going to be. the cannabis stocks does not underline business. tesla builds the brand and these are agricultural stocks. i predicted this downdraft we've seen. stuart: that they reverse myself. the last time -- blasting odysseus reclassification from one to two. you don't want that. >> absolutely not. i need the stock to go higher. i want the stock to go high. i want there to be an enthusiasm behind it and then i can short the stocks.
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stuart: you're a short seller. that's all you do. you bet against them being. >> as you just saw, used to be sure. i'm actually delete think this against elon musk in the 420 tweets. i looked to make money in the stock markets any which way i can. my specialty is shortselling. stuart: got to be doing well today. the dow down 250 points. you're in the money again argue, andrew? >> actually i'm not sure today. i covered a lot of my training shorts and probably see a balance in the market. my position shirts are still going lower so that's good. stuart: got to tell you many years ago back in the 1980s i was doing an interview about eastman kodak and i suggested to my guest, what are you sure kodak. you said to me, what are you some kind of communist? have you ever gotten that kind of comment, mr. left?
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>> people who don't understand shortselling might think it's unpatriotic or anti-america appeared understandably good purpose for the market. whoever said that he was very naïve not to mention they gave you bad financial advice. it would have been a great sure. stuart: you are right there. andrew come a pleasure. thanks for being with us. very much indeed. stuart: individual stocks in the news and moving. going after amazon just in time for the holidays. 26 bucks lower for amazon. >> drapery to nearly 270. stuart: the dow was down 260 as we speak. big companies reporting profits "after the bell." ford, microsoft, tesla, visa, whirlpool. all of them down in this downdraft even before they report their numbers. apple's chief tim cook looking
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for new privacy law for tech companies. the larger issue is how these companies handler data. could it be the end of tech if no one trusts them? coming up, alan patricof on the demand who invested invested in apple in 1979. and there is a second caravan forming. planning to follow the other caravan now in mexico heading here. we'll talk to a california congressman. i want to know if they're prepared to close the border. 13 days away from the midterm. looks like we might not see the blue wave we've been hearing so much about. talk of the gop even keeping the house. we've got it all for you. money, politics. more "varney" after this. ♪
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stuart: breaking news for you. saudi crown prince mohammed bin salman come in the first time you spoken since the death of columnist khashoggi. he says he will prove to the world the saudis are working to bring the perpetrators to this. he's working with erdogan to reach results for the crown prince is that crown was painful to all saudis. another caravan of migrants in guatemala. president trump reading about it. for those who want an advocate for illegal immigration, just take a look at what is happening to europe over the last five years. a total mess. they only wish they had a decision to make over again. republican from california rohrbacher. you are a sanctuary day.
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that's a california is. are you prepared to close the border of these caravans come right at you? >> i think the president has the right to defend our borders if it means. if they take one step across the border, they all have constitutional right. i would hope this president uses nonlethal weapons hopefully in order to turn back these marauders coming in from the south. but me just note that this is the product of having so many people on the left talk about sanctuary cities. talk about benefits. my own opponent in this election is advocating that we give medicare to illegal immigrants. now why would millions of people had in our direction ever going to promise them the benefit of rightfully belong to the american people. stuart: but you've got to stop
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them putting even one foot in yours date. i mean come you just got to stop them. one foot in and they are in, right? >> no. i would have to tell you this. we have a president who is decisive. we have people coming here because they've been promised benefits, promised jobs. we have to quit promising to stop where it starts. number two, when they get to her border, i'm sorry, this president and i trusted him that he will not let them slide into our country and maybe he'll have to declare his date of emergency. declaring a state of emergency means those same laws don't apply. and also there are nonlethal weapons. as all kinds of physical force short of shooting them down that we can do to stop this invasion of our country.
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trade your congressman, you say the white house is going to topple marijuana reform after the midterms. does that mean you want the president to reclassify marijuana from to classify one a lot with and and and reclassify two or lower level? is that what you want? >> i personally would declassify marijuana. as far as i'm concerned, marijuana should be treated like alcohol or wine or some other type of thing that has come a guest on the well as recreational purposes. but as a downside. we know alcohol has a downside. but what is left out of especially to and local government, but also especially to the american people themselves. this is a freedom issue as far as i'm concerned. classifying marijuana with and cocaine and these other types of drugs has been irresponsible. it is not help the american
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people decide how to live their own lives because it's irrational. stuart: congressman david rohrbacher, congressman of california, we'll see you again real soon. here is her check different markets for you. bear in mind that the dow was down 200 points. bitcoin up a little, $2,606,400 a coin. when the stock marks -- stock market keeps on selling off from , downturn and pulled down 350-1233 per ounce. oriole moving $66 a barrel. we receive the latest read on how much oil we've got in storage. it went out. 6 million more barrels of oil in storage. maybe the economy is not as robust as we thought. maybe. price of gas and she lower. national average now $2.84 per gallon. got it.
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this intrigues. self driving cars in d.c. by february of next year. ford once the high-tech cars carrying passengers and making deliveries all across the city by 2021. in february they'll be introduced with a driver. ford stock $8 a share. do you realize that yield 7% dividends? wow, i'll take it. this study we brought you in the eating is essential to avoid disasters of climate change. stop eating burgers and save the planet. blumberg is back with us today. he's our environmental voice of reason here but if you make of that? one lucky person breaking into a near billionaire this morning. at least one winning ticket sold for the record $1.6 billion make millions shot at bought and sold in south carolina. if you haven't checked your
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ticket yet, you're a little late. i give you the winning numbers. five, 28, 62, 65, 70 and the mega ball is five. got that? check this. how much would you pay for the smallest home in san francisco? 480 square feet. one dead, one bath just hit the market. it is northern california. we'll tell you how much it going for. ♪
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stuart: got a tweet coming from chelsea clinton. everyday i'm grateful to the women and men of the united states secret service. thank you. she is referring to the suspicious package sent to her parents house in chappaqua, new york had pence echoing the statement industry. we condemned the attempted attacks against former president obama and the clintons, cnn and others. his cowardly actions are despicable and have no place in this country. grateful for a swift response of the secret service, fbi and local law enforcement.
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those responsible will be brought to justice. more on this one coming out. that's a big story. before the break, we asked you to guess how much this very small home in san francisco was a. $650,000 for a 480 square foot home. one bedroom, one bath in a very tiny kitchen. the big drawer sits on 2500 square feet. that means it is a scraper, scraping away, build something new. a futuristic trailer you can live in. new zealand company designed at. you can push a button. it reveals a party deck which will create a lot of floors raised for the trailer has a bedroom, living room big enough for a pullout sofa, bathroom, kitchen, state-of-the-art sound system, solar panels and here's what you're waiting for. the price. $350,000. ashley: that's not cheap.
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stuart: uber eats planning a big expansion with the food delivery service to reach 70% of the country's population by the end of this year. uber plans to target growing suburbs and work with restaurant chain like red lobster in tgi friday's extend their reach. nintendo partnering to put his switch game console and classrooms. the switch comes with cardboard boxes that students can bend into all kinds of shapes and designs. it's supposed to get the kids interested in science, math and engineering. apple chief tim cook pushing for new privacy laws for other tech companies. shortly we are joined by legendary tech investor, alan patricof. he said privacy rules are critical regardless of what it says to these tech companies. is that the shortly. next we are going to the white house. in a shady spot joins us. suspicious packages as well as
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tax cut and the caravan. we are on at all. ♪
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stuart: looks like the will of the day down 262 points. just over 1% that although 25,000. big tech leading this market to the downside. those are the five day tech stocks and they are all done significantly. facebook, amazon, alkyl, microsoft, all of them down. more on that in just a moment. apple chief tim cook pushing for new privacy laws for tech companies. other tech companies. he wants to adopt was somewhat similar to those adopted by europeans. look who's here. alan patricof, cofounder, that is big deal if he's one of the original investors in apple back in 1979. you're a tech way back then, correct? >> yes, sir. stuart: but you want to rein them in. you want to make them liable for mistakes that the data they
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collect. >> i think he pushed me a little too far. reacting to the news of yesterday and before its gdp are in today does positively accepted by the industry broadly. everyone has adopted principles so that obviously been living with it a year now. >> europeans will find them a ton of money if they make a mistake in the data gets out or crushing some small company. >> are the american companies operating over there under those rules. those rules have been asked to do by the end is dirty. they are concerned with their privacy. i do conversation yesterday. he turns off the video and make sure his computers off at night. everyone's nervous about where
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data is being collect it. >> that's exactly my point. >> if we adopted europe's rules here, without radically change the business model of the facebook and google and twitter? >> a little overreaction from your comments and what the prices have done this morning. it is a fact of life. privacy is front and center. they're going to have to be rules and you can have to live by the rules. so far the gdp are rules, companies who dealt with all seemed to be adapting with it and are living with it. if you take into consideration that can be favorable to in her small company and make it more difficult. they've got enough right now the big companies have over advertising. stuart: you do like amazon do
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it? >> yes, like amazon. i think amazon's grave. he keeps coming back to haunt me. i'm concerned about what companies social media, online fighting, had been fixated 18 hours a day on the screen is doing to our communities and our life. that's what i'm concerned with. drink to you and i are about the same vintage. do you think older folks like us not getting used to the technology being used by the youngsters? is that part of the deal? >> no, i don't think that. i have grandchildren. you must have at least children if you don't have grandchildren. stuart: nine grandchildren. >> i've got seven. you can't have dinner about them without them sitting below. stuart: you don't approve, do you? >> i think it's distract us. i had a business dinner and i was upset by one of the people
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sitting there the entire time. i said is this the way you come to business dinners? sit there with your blackberry -- excuse me, not black. , iphone under the table. dating is done online. purchasing an amazon happens to be one of the companies like a lot of others. listen, we are very in favor of direct to consumer marketing companies. we've got a fair number in our portfolio. i just think we've got to figure a way to build our communities again, rebuilding how we live our lives. stuart: forgive me, i'm moving on real fast. you're done. what can i say. you might be invited back. you never know. i want to move on to the latest breaking news. law enforcement officials told "the associated press" that the suspicious package found at the cnn office was a pipe on.
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packages also sent to the clintons helm and president obama's office. we are joined by machetes schlock, senior adviser at the white house. suspicious packages, pipe bomb, and this is the last thing we wanted to hear. this is just dreadful and i'm sure he'll join me in it. >> absolutely. terror is a despicable. the white house has put out a statement just recently on a fax. obviously we condemn these attempted violent acts. it is horrific to see the u.s. secret service as well as law-enforcement are engaged, investigating and they'll go after these cowards. the key is to hold these people responsible in their found. stuart: i'm interrupting you. an official in the clinton administration or campaign has just issued a treat and which he blames president trump.
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your response, please. >> -- is ridiculous at this point we are dealing with very serious terrorist attacks against public officials. whether you're a democrat, republican, independent at this point we've got to be focused on what these criminals are pushing for. these are cowards who are basically trying to terrorize individuals and it's just terrific. we stand together to solve this problem and that's why we have the brave men and women in law enforcement you a secret service on the case investigating ms. and obviously the white house here and the president are aware of the situation. stuart: before a move on, i want to add one more nugget here. wolf blitzer on cnn has just reported and stated that the package sent to cnn, headquarters in new york city was addressed to john brennan, a vigorous former cia director and a vigorous critic of president trump. one more word on that.
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>> too soon to determine obviously who the cowardice. the u.s. secret service in law enforcement are investigating. we will wait to hear what they come up with. these are despicable acts and you know, it is horrible to see that anyone who tried even have these terrorizing acts against public officials. president obama, president bill clinton and secretary of state hillary clinton as well as cnn. just terrific. law enforcement is focused on this investigation. stuart: i'm going to move on to the caravan. as you know there's a new one for new one forming up in honduras animal make its way to her border. i think this gives president trump a huge political issue to go out. maybe you have, but i haven't heard what the democrats proposed to do with his caravanserai that her border.
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>> i've heard what they propose to do and what they propose to do is open borders. they propose to do nothing. president trump has tried time and time again to negotiate with democrats in terms of real immigration reform. we have to end the catch and release provision. we have to give border patrol agents the authority to detain and remove those individuals coming into our country illegally. the standards applied to central americans coming illegally is different than what standards are two mexicans trying to come into this country. we have a legal way, legal immigration process in the near factored being abused and you see the border crossing numbers increase significantly whether family unit we've had 161,000 family unit coming to the united states, you know what's happening? they are released into the interior, inter community after 20 days. as the caravan happening
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everyday. illegal aliens crossing the border. this caravan, let me tell you some end. being funded by left-wing organizations, card tells, criminal organizations, venezuela they are using these migrants as human shields and what their goal is the democrats stand there and do nothing. stuart: mercedes, thank you very much. we appreciate you coming on the show in such short notice. thank you indeed. brad blakeman, former deputy assistant to george w. bush is here with us this morning. first of all, your reaction to the suspicious packages and more to the point, philippe raynes treating out that he blames trump for this. >> outrageous. when any group of people seeks to terrorize the united tape, we as americans, this is beyond the pale to matter who the intended them was or is.
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just because there's democratic figures targeted right now doesn't mean that it's the end of it. it doesn't even mean that was the ultimate intent of it. the good news is these weren't detonated. now we have the full signature of the packages for forensic people to do their work. secret service does their job excellently. the fact that they found the syntax and were able to stop it. we should come together as americans and be vigilant because there could be another out there. stuart: i've got a cut it short. you come all the way to new york to sit next to me. and they give you 90 seconds. very sorry about that. active newsday. appreciate it. u.n. released a report which said humans only have 12 years left to avoid an environmental catastrophe. sounds rather dramatic here and we will ask whatever you rent environmentalists bjorn lomborg what he thinks about that.
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migrant gathering on guatemala planning to cover the other caravan of mexico and had it here. texas lieutenant governor dan patrick also had to mcallen texas to a live report from the border with mexico. yes, we will be back. ♪ ith experience and knowledge who can help me build a complete plan. brian, my certified financial planner™ professional, is committed to working in my best interest. i call it my "comfortable future plan," and it's all possible with a cfp® professional. find your certified financial planner™ professional at letsmakeaplan.org. find your certified financial planner™ professional a moment of joy. a source of inspiration.
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>> i'm gerri willis life in the florida new york stock exchange with your business break. stocks are taking alike lower news is suspicious packages being sent to president obama, hillary clinton and cnn. the dow down nearly a percentage point. the s&p 500 down 31 points or 1518%. the nasdaq down 125 points or one points 7%. netflix raising $2 billion to fund new content. there is a mixed response i have to tell you. market not necessarily liking not good for stocks trading lower here as our apple and amazon, two companies competing with netflix in the marketplace. talk to you. ts, 35 mules, and an ice plant.
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stuart: amazon wants the feds to buy its facial recognition technology. executives met with i.c.e. officials to show them how to be used to monitor migrants. earlier this month, jeff bezos said tech company should work with the government. however, real serious opposition to it from some amazon employees. the see how that works. back to the migrant caravan. the first one continues to move north. the second one reportedly formed
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in guatemala. griff jenkins ran on the border. when you have for me? >> sewer, got some new numbers. customer border protection releasing total apprehension for fiscal year 2018 in the southwest porter there. total apprehension for 396030% from 2017. the number that really made a record here is the family unit, number family units apprehended for the first time. you heard were shady spot with 42% from last year here in mcallen, texas, the busy effect are up 300% in the last year for everything. this border sector is really, really difficult to protect. 227 miles. a helicopter yesterday with air and marine operations and got a look at how difficult it is with rugged terrain, a winding river.
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you have to use a helicopter, border patrol on the ground and should the caravan of seven dozen come here and will compound the problem. this just been given to me. senator patrick leahy from vermont came down here. yes were briefing and tour of the area from the sect or chief manuel padilla. they gave him such an long he was the river is very common for agents unfortunately to be assaulted with rocks. we are told -- stuart: we just lost you. i don't know what griff was going to say about patrick leahy bread on the rio grande they are, that sounds pretty ugly. we will get back to that shortly. right now texas lieutenant governor dan patrick gave mr. lieutenant governor, welcome back to the program. always good to see you. >> it is dan, stuart, please. stuart: dan? i'm an englishman.
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i can't. you're the lieutenant governor of texas that i can't call you by your first name just like that. what you've got to do with these caravans approached, you've got to stop any of them putting one foot in texas or california or arizona and you can't do that. you can't do it, can you? >> sewer, i want to take you back to new june. we broke some news that day we have 25 to 30 million people here illegally. the media kind of dismissed it. not fox. m.i.t. came out with a report a month ago that proved what i said correct. somewhere between 7% to 9% of our population could be illegal in this country. we cannot let this group come across our border and barge into our country. i met with the president tonight to go when he was here for the
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fantastic rally in houston and yesterday he called me last night. he and i had a phone conversation about the ideas we're exploring. i can assure you, stuart, the president is not about to let this mob being funded by venezuela leftist, democrat operatives in this country, people without borders, go through the list. this group is well organized. who's feeding them? who's providing bathroom facilities. i see them on cell phones. we are not going to let them cross and for those who do cross, they're going to be processed and expanded with more jag officers so they can have 24 hour courts turn this around them and put them on a plane and fly them back. stuart: that's news. i'm going to call you dan. thank you for joining us. sorry to cut it short but i've got all kinds of things going on. thank you, sir.
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back to griff jenkins was right in the middle of a story about senator patrick leahy. finish it, please. reporter: sorry about that, the live use break sometime. senator patrick leahy was 72 or had this busy sector answer it, and unfortunately her agents to be assaulted by rocks on the mexican side we are told officially that senator leahy's tour of the river with the border patrol came under assault or rocks. we have not got a comment. all of this occurred yesterday. senator leahy is not here any longer. we called his office waiting to get a statement to see what he has to say. it's not a huge news development. the border patrol said they were all right. it's a testament to what is happening. they say being assaulted by rocks and other forms of aggression in the mexican side, particularly those turned across the river was a fairly uncommon
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thing years ago. now it is far, far too common. stuart: waiting to hear what the senator has to say. griff jenkins, thank you, sir. braking is more of it. reports out of florida at the congresswoman debbie wasserman schultz has been evacuated after a suspicious package was found or that's according to local media in florida. we're also told according to local media in new york that a suspicious package was sent to new york governor andrew cuomo. this is of course in addition to one sent to cnn, the home of bill and hillary clinton in the office of barack obama. 12:45 eastern time the new york police department will hold a news conference on the suspicious packages at 12:45. moving on, the market coming back cover down 200. now we are down 150. mcdonald's dropping a happy meal from its value menu.
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not that this makes much difference from the stock down the chin down 5%. sirius xm, a strong forecast for future business. no impact on the stock right now it is unchanged. then this. a huge reduction in meat eating is essential to avoid dangerous climate change. our next guest says not true. joining us, environmentalist bjorn lomborg of the copenhagen consensus center. sir, i know you're a vegetarian so you're going to fit right in here. where did this come from? eating meat leads to climate change. where did that come from and what you make of it? >> low, and if you do cut me come you do reduce your emissions. people have the sense are going to somehow save the planet as
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well go vegetarian. that's very unlikely. a million and a half people waiting to eat meat as they are too poor right now. crucially of people in the west go vegetarian, you only cut about 2% of your missions. it's cheaper, you end up buying more other stuff. in essence it's a 2% reduction. nowhere to save the planet. stuart: you are a vigorous critic of some of the ways in which we propose to reduce co2 emissions. you said basically what is being proposed is at work. >> yeah. look, for a couple weeks we've now been talking about we need to cut even more and the u.n. climate panel is saying we need to cut so much. a couple weeks ago the noble laureate in economics was actually labeled for the nobel prize because he points out, look, we've got to do this smartly. doing nothing about climate change is not a good idea but everything is not a good idea
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either. if we do nothing will probably seek damages of 3% of gdp across a century. if we do it really smartly we can reduce the damage to 2.3%. we can literally get zero points 7% better off if we really do it well. china, india, u.s. and everyone else. if we don't do it while we can easily end up spending a lot more money and lose $50 trillion if were not careful. stuart: want to talk to you about that u.n. report on climate change. it claims we only have 12 years to limit an environmental catastrophe. that's all the time we've got left. would you say? >> what they said was they were asked by government had we get to 125 degrees maximum, which is what they ask that we promised in paris. the climate panel said if you want to get to that you have to
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cut an enormous amount right now. almost everyone agrees this can't be done. the news media has picked it up. remember, yes higher temperatures, all other things being higher damages. lower temperatures because we do policy also means higher policy cost. doing too much is simply ludicrous as both almost impossible and phenomenally. stuart: the wild forecast of catastrophe in the immediate future are really a negative for the whole climate idea. such bad publicity. it's a scare tactic. doesn't work. >> people show research that if you tell people this is the end of the road got to do some day
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now. i'm in research. we should tell people the truth. if it was the truth we should say it but it's not. >> thank you. we will see you again soon. a jampacked hour and not the facts. there will be more "varney" after this.
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to request this free decision guide. and learn about the only medicare supplement plans endorsed by aarp. selected for meeting their high standards of quality and service. this type of plan lets you say "yes" to any doctor or hospital that accepts medicare patients. do you accept medicare patients? i sure do! so call unitedhealthcare today and ask for your free decision guide. oh, and happy birthday... or retirement... in advance. stuart: updating all the breaking news we've been following for you all morning. there is a lot of it. suspicious packages sent to the suburban new york home of bill and hillary clinton. to the office of president obama and to cnn studios in new york city. law enforcement officials say the package found at cnn was a pipe bomb. cnn reports that it was sent to former cia director chief, i should say, john brennan.
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white house con he demmed the attacks -- condemned the attacks saying the perpetrators will be brought to justice. congresswoman debbie wasserman schultz office being evacuated due to a suspicious package. positive andrew cuomo says reports of a package sent to his office are untrue. to the markets we have a serious turn around. literally just a few moments ago we were down 200 points. ashley: just like yesterday, not on the same scale but still very volatile. stuart: i don't know of any significant development that popped up to account for this change. we're up and down all day long. that has been the pattern recently. that is where we are now. at this moment, we're down 41 points at 25,141. but i do also want to say, that the worst news that i have delivered this week, if not this month is these dreadful stories, devices sent to leading
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politicians. liz: outrageous and to cnn it is outrageous. stuart: it is. the last thing we want to see in our society, period. i don't care who is to blame. knock it off. you have to stop this. this is bad news. my time is up, connell mcshane in for neil cavuto. connell: thank you, stuart. we have breaking news on this hour of cavuto "coast to coast," filling in for neil. three of them confirmed sent to homes of two former presidents. the home of bill and hillary clinton in chappaqua, new york, in the new york city suburbs, the home of michelle and barack obama and to the headquarters of cnn in new york. you're watching on left side of the split screen in fox business, the device we understand uncovered at cnn headquarters at

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