tv Varney Company FOX Business November 6, 2018 9:00am-12:00pm EST
>> have a great day everybody go out and vote here's "varney & company". >> good morning everyone. here we go. the vote has begun. hey, what happened to the blue wave you know the one that carry democrats back to full control of congress it appears to have flondered and the split decision is the best the left can hope for. we'll see. turnout, though, will be very strong the record for mid-materials was set in 1966 when% of the electorate voted it is possible we'll beat that turnout today. it is going to be a very long day. might be after midnight until we with find out who won the house
because some of the key raceses are in. the weather, well that's going to be a factor. not a good forecast for much of the northeast. the midwest, and the south -- as for the market look like it has taken a wait and see attitude no major move at least not at the open of trade aring the dow is going to be down 30, nasdaq down 4 nasdaq down 18 flat to lower. last night president trump wrapped up extraordinary series of rilelies 11 in 6 days his closing argument was vote republican to keep the the booming economy going. for the democrats, it was president obama who made the final argument. not hillary clinton. he told democrats not to be distracted by lies and fear mongering. politics and money that's us, "varney & company" is about to begin. ♪
>> republicans have created the best economy in the history of our country. and it's the hottest jobs market on planet earth. but everything we have achieved is at stake tomorrow. because they can take it apart just as fast as we built it it but i don't think that's going to happen based on what i'm seeing all over the place. [cheering] vote republican was the argument. president obama well he did the same thing for the democrats. roll that tape. >> to mention what's at stake in this election -- health care is on the ballot making sure working families get a fair shot that's on the ballot. [applause] what kind of -- politics we expect is on the ballot. how we conduct ourselves in public life is on the ballot.
>> not quite the sail energy i would say. joining us now fox news contradict tore a member of the wall street journal editorial board. so who do you think was more persuasive there? >> i'm more persuaded by president trump, however, i think that republicans have not made the sale not the economy -- that i think that they needed to sell. which they have. it's the economy tethered to achievements primarily the tax cuts. >> you don't think they made arlgt? >> when the tax cut passed it was a 4.4 gap and republicans i think thought the economy would take care that have. it would grow more popular. and it has it's narrow. but it was never been -- overwater and it has never ban major of people embracing tax cut. >> wait 67% polled in abc poll says economy is excellent or good and -- >> i agree with that but not at the timering to achievement of the tax cuts if you look at the
tax cut popularity on real clear politics you'll see that. they've been playing defense on that and added to health care, remember basically got their majority coming in we're going to get rid of obamacare, and they're weak in this election on this even though they have a pretty good record on trying to reform the health care system. the problem is obamacare still there kind of john mccain parting gift that they voted for that bill which would have stripped part of the preexisting got stuck with no vote on preexisting conditions hammered with now but didn't get a chance to fission anything which they would have if they would the chance. >> concentrate on president trump for a second. 11 rallies -- six days, whirlwind tour did he sway voters previously on the fence in other words did he bring people into his camp with that dramatic series of rallies? >> we'll find out look the historic -- >> i think he swayed some. but i think also that democrats
are energized in a way republicans were energized under barack obama. you know didn't get that much attention. but during obama years reallies made extraordinary gain something like 900 seats at the federal and state level. because people didn't like the direction of the country under obama. so democrats are definitely excited now. qeel see who comes out. we'll also see independents who are jump billion on this. >> consensus is split decision -- take the house reallies keep the senate. >> i'm with the consensus on that. >> you are. not generally consensus -- >> but i think on this because -- it's conceivable to republicans to win but they would have top win almost every swing district. and i think that's -- that's going to be a challenge. >> only time will tell. that's expression -- although i say one sorry certainty is i feel that as a resident of new jersey i'll wake up and bob mendez will be my
senator tomorrow. >> enough of that. thank you -- [laughter] do take a look at this headline. it's from "the wall street journal" and opinion piece, let me see if i can get the syntax right americans aren't just happy about the economy. what does that mean freeman wrote it -- what does it mean? >> what i was trying to say is they're happy if about the economy. it is oustanding but that's not the only thing they're happy about. i think that this is key to this election why it gis the republicans a chance to buck history here. obviously, the president's party usually takes a beating in the midterms. i don't think that's beginning to happen. i think it is mrp of that split decision you talked about, and it's -- it's not just the economy. i think sometimes the critics or the president or his supporters would say, well you -- you've got this great economy so you're willing to overlook other things, but i think when you look beyond strict polls ongs the the economy and direction
people are more optimistic there too. >> okay. have you seen these numbers? it's 401(k) millionaires, just at fiddlety a jump of 41% they have a bucks in their 401(k) just at fidelity 170,000 have a million dollars in their ira just at fidelity they're truly wealth spreading come on. >> these market gains in myc growth have a profound impact on our lives, obviously, this has been a great period since the 2016 election for investors. tremendous wealth creation but also for workers. we've talked about -- more jobs available than ever. first, largest wage increase in a decade. huge hiring last month, so all of the indicators productivity
finally moving in the right direction again this is the great story that republicans have to tell this fall. that it's a question as you discussed about how well they told it. >> it's not crumbs that are being districted to people. no tax cuts have given wealth an extraordinary degree of wealth to middle america. and i don't think they sold it well enough i don't think they did. >> i was looking at the 401(k)s, you know ten years ago in 2008 that number with a million was only 19,000. now it's ten times that amount. ten years later -- >> and there are 55 million americans who got a 401(k). so 35 million with an ira which is terrific. almost all of those people have seen if they're in stocks most people are in stocks in their ira or 401(k) they've gone up by a quarter and a third. in 18 months. thrnch you go what does that say? about wealth creation? >> don't forget pension funds who are also benefiting for this
rising market. so basically, everybody -- everybody's retirement plan is getting huge boost here. >> don't forget later on this morning about an hour's time latest jolt job openings at a record of 7 million there's nor jobs available than there are people looking for work at this point that's prosperity to me when it comes to economy. >> they've been right here phil give you that. >> success -- no they didn't say it happened by accident but because we took these steps but point you're making is that tax cuts, the benefit is not just the dollars people save on their own -- tax bill, right? it's a growing economy that's like compounded interest that giving them a lot more jobs, a lot more opportunity and a lot more wealth and there's no substitute people think it is for hedge fund managers and so forth but for ordinary americans. >> coif say i'm more optimistic than you guys because economy is baseline for what people vote on. >> i hope so.
all right i have -- [laughter] big storm brewing. it's actually arrived bringing rain it a big swath of the country. not good for voter turnout. >> this just in it rained stuart many people vote -- but this is -- >> you're killing me. actually there are numbers accuweather say when is it is rainy and damp it could effect turnout up to 20% you say a big storm system one moving through southeast and moving into the northeast there you can see there most of the country, though, is generally fair today so out west, california arizona just fine here's a quirky thing that research showed up is that if it is damp in new jersey republicans do better. bill -- maybe you vote -- >> mendez -- >> we shall see other funny thing in florida less people show up to vote if it is hot and muggy seriously, it is always hot and muggy in florida but there you go. >> turnout will be record numbers. already record. therethere will be special elecn
coverage kicking off with lou dobbs 7 p.m. eastern time at neil cavuto comes on i'll be joining him in the 8:00 hour special coverage tonight fbn. where do we open this market on election day? the answer is -- flat to slightly lower. for the dow s&p, and nasdaq. and those migrant caravans still moving. troops are at southern board to stop them military say troops will not come into contact about the with any immigrants at the border. we'll get into that one for you. and president obama he's on the campaign trail or he was until last night. did he help fire up their base for the midterms? we're going ask joe lieberman he's on the program today. and a big guest, eric trump he's on the show too. where does his dad, the president, get his energy? the election day edition of "varney & company" just getting started. think your large cap equity fund has exposure to energy infrastructure mlps? think again.
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the president hit 11 states in six dayses on the campaign trail. actually deliveredded 11 campaign rallies speeches in six days. and look ho is here to comment on the man's energy. eric trump -- his son, eric welcome to be here. shake that hand website sir good to see owe where does your dad get the energy? >> he's a machine always been that way. whether it was work, you know prieflt sector, no matter what it was he was always a machine when we did apprentice all right we go and do apprentice at the 6:30 in the morning and work a full did i and 7:00 do boardroom and things like that he's always first guy working in the morning last guy to leave. remember, he campaigning look this but running country, military, everything else -- >> does he drink a lot of coffee? i imagine a silly question. >> never had a cup of coffee in his life i never have in my life. no never had a cup of coffee or sip of alcohol. i mean, he's -- you know his thing is diet coke
somehow it is working. >> that's the answer. the guy is incredible. he's just -- a machine. >> older than me. [laughter] >> no -- the reporters on about campaign trail, and you know, does trump have energy and literally i watch them. i would watch them in corner they would have four red bulls three monster energy drinks and they would be shaking literally be lying like passed out in a corner he would be up there at a rally we're going to make america great again. 11th rally of the day and all of these reporters are 25 years old, ready for "the new york times" sleeping in corner. you've never -- >> let's get serious i'm sure you've seen it headline in today "new york times" election day headline. trump closes out a campaign built on fear and division. go at it. >> that's "new york times" for you. i saw one of the most beautiful mommies i've seen in politics happen last night and it was just -- a total you know somebody had an medical emergency and my father stepped aside as paramedics came in to take woman out and you
know, passed out. and the audience starts singing amazing grace had 20,000 people in a room singing amazing grace and it didn't get much coverage but such a beautiful moment but this country is winning we are winning a nation again. you talk about that every day i don't need to fitch you but our economy is winning we have lowest unemployment we have of seen since 1969 the year we put a man on the moon 1969 -- we've had 11 months where unemployment in this country has been less than 4% and six of them have been is under trump and we're going to have a lot more under trump. >> did the message get out? did voters, you know -- trump's policies with the results of those policies -- >> americans what i can tell you americans are very, very smart, and they can cut through nonsense and bs unlike anybody. and you know, what "new york times" does this every single time. every single time this is their mo they've got it -- in fact last election going in, the the morning of the last election, in new york tiles gave my father a 1.9% chance of
winning. the morning -- november 8th of 2016 "times" gave a 17.9 chance of winning they got it wrong. greatest writers in the world they do not understand this country. they do not understand it. all of our jobs left they went to -- you know mexico, they went to china they went to other places. they fled this country we lost 70,000 factories. 70,000 factories between 2001 and 2016 in this nation those jobs disappear you have obama again trump has no magic wand who you does he bring jobs back to the country it qoabt happen. but ab are a ka -- it opened more jobs to be filled in the nation than people to fill the jobs. we've created trillions of dollars worth of welt. our military is back. just watch this show top of the 10:00 hour with the latest numbers on job openings -- versus jobs actually -- workers to fill them. but real fast last question -- do you think your dad can unite the country if the democrats win
the house? because he's going to face a very contentious opposition at that point. can he unite them? >> there's no question. i think america is more patriotic right now than they've ever been. you have somebody in the white house who has backbone and actually fighting for this country. now today people have to get out to vote it is that schism. if you're happy be your job and happy with, you know, raises that you've received or if you're happy with the market, you have to -- you cannot be complaisant if trump voters gets out and people who support trump and have a better life right now if they vote today, man it will be a red wave like we've never seen before people cannot be complaisant but you have to vote. >> i'm going to put something on the screen of interest to you the stock price of coca-cola as soon as you said your dad drinks that it popped a little bit. >> it did pop. i saw arrow right there. [laughter] hey three cents -- popular stuff. eric best of luck today and thanks for joining us. oblige to you. thank you, sir. check our futures all across the
board here. where are we going on this election day? flat to slightly lower. florida -- voting on a measure that could restore voting right it is to more than a million convicted felons. i want to know what's at stake here, and i'll ask the judge it be. he's next. hi.i just wanted to tell you that chevy won a j.d.power dependability award for its midsize car-the chevy malibu.
i forgot. chevy also won a j.d. power dependability award for its light-duty truck the chevy silverado. oh, and since the chevy equinox and traverse also won chevy is the only brand to earn the j.d. power dependability award across cars, trucks and suvs-three years in a row. phew. third time's the charm... ♪ ♪ ♪ ♪ comfort. what we deliver by delivering.
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yeah this is news to me, the state of florida could restore voting rights to 1.5 million convicted felons there's a ballot initiative there today. judge napolitano is here. you know, judge, i didn't know this. but 37 states you're telling me -- you automatically as you finish your sentence you can vote again. >> some states make you wait a year, two, or three but 37 states without doing affirmative without making any applications, or any hearing or anything eventually you get your voting rights so florida -- really if this passes, and it look like it will because there's no organizeed opposition to it most people what they don't know what thing on the ballot means they vote yes. right -- physical will join the 37. but think of the prison populations in and texas which are enormous they automatically get that fair right to vote the day they leave -- actually the day they finish their sentence. so if you're sentenced to ten years and you serve seive you
don't get the right to vote until ten years come because probation for last three. but it's service sleeper issue. suzanne and i and ashley were talking before and 20s and 30s, convicted felon you lotion the right to vote forever and there's gradually come back. our home state, new jersey, automatic. here in new york, three year wait you get it back. >> how many conservative republicans do you think come out of prison and vote republican? >> white collar guys in there -- [laughter] >> maybe about so. i was surprised i didn't know this talking about a million -- six people in florida, who may suddenly get the right to vote in january. obviously wouldn't apply this time. >> in january. very interesting don't know which way it goes but i doubt that majority are conservative republicans. >> i'm with you thanks judge. see you later. where do we with open on election day we'll open flat to slightly lower. maybe down 20 on the dow. 14 on the nasdaq there you have it. we'll take you to wall street per the opening bell on a big
but everywhere else... there are stores open late for shopping and fun as people seek gifts or even give some. not necessarily wrapped with paper and bows, but gifts of kind deeds, hard work and cold toes. there's magic in the air, on this day, at this time. the world's very much alive at 11:59. hi, my name is sam davis and i'm going to tell you about exciting plans available to anyone with medicare. many plans provide broad coverage and still may save you money on monthly premiums and prescription drugs. these are affordable, all-in-one plans that help pay for doctor visits, hospital stays and emergency care. but they also include prescription drug coverage. in fact, last year humana medicare advantage prescription drug plan members saved an estimated $6,900 on average on their prescription
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we're wait for results and we won't get results until well after 8:00 tonight. the advance indicator is -- it will open flat to slightly lower, i am told that the market anticipates a split decision that would be -- democrats take the house. the reallies keep the senate, that's a split decision kind of neutral for the markets. we'll see. here we go we're off, running it is election day folk. how do we open? slightly lower. down 14 down 5, as we predicted -- flat to slightly lower. that is the order of the day virtually no movement on the dow. let's check the s&p, aisle prate sure it is same story there. it is also down -- 6 -- oh, that dead flat. let me get away with that one nasdaq technology companies where are they going today dead flat? down .04% the. big technology stocks we always have to lead with them where are they in opening this morning mixed bag no major movement for any of those stocks although i do see amazon down 11 bucks.
16.15 is the price let's check the russell 2,000 smaller company miss that index they're down again just a fraction. .17% we've got it joining us now mike murphy d.r. burton and ashley webster i want to pose with people same i have been for a while what happens on market tomorrow morning if a, we get a split decision? b, the reallies sweep both houses? c, the democrats sweep both houses? dr you're first split decision what does the market do tomorrow? >> if it is a split decision that we do go down a bit. because we're getting to that stalemate issue. i think there's one big thing that no one has been talking about stuart, the polls have gotten everything so wrong for so many years, i'm not convinced it that this is a slam dunk yet. i think things are going to be tighters than people might expect to get even with with losing the the house by losing
by few per seats to give a lift to the market. >> mike murphy split decision what does the market do tomorrow? >> decision goes up. republicans sweep, market goes up. democratic sweep, with not so sure i think that causes selloff in the market. >> pretty optimistic about market given most -- lukely circumstances. >> yeah. either way it is a short-term reaction. immediately following the vote to when we get result ares i think odds are we get a positive for the stock market. >> i think expect to split ford looking begged it in and this is, you know, yes if there's a surprise the gop wins it goes up. it is going to be very bullish democrat sweep it is going to be barish but i think it goes as expected market will move higher tomorrow. >> no volume being traded right now. no big trade being put on and outcome of tonight, i would say market had negative is the house slips. market positive at the republican taken. >> i think it is very positive if you did get republican keep
the house. and increase their majority in the senate. i think that market goes strong -- but wrong before. >> if you add a deal with china in there. [laughter] >> not to mention a stellar fourth quarter and holiday selling season. i think you have a -- yeah hoping for aren't you? >> sure. >> "the wall street journal" saying that apple supplier foxconn is considering bringing chinese workers to wisconsin because labor market so tight and they're, of course, building factory a big one in wisconsin. more proof that the labor market is supertight i would say -- >> supertight and numbers wisconsin's unemployment rate is % below the national average but they're not bringing in factory floor workers let's be clear they're thinking of technology workers especially engineer my fellow engineers that nay need and not able to find here that is a tight labor market. >> 10:00 this morning we get the jolts report that is how many job open physician are there?
likely to be over 7 million that's very, very good news for the economies and for rising wages. >> it's great news and people know that they need to go out to hire the right people and if they're not here in the country they'll get them from somewhere else but if you're looking a job in the country it is a great time. >> 13,000 jobs supposed to be created at the a foxconn factory, these haven't hired that many so far and gotten a lot of lucrative incentives from the state 3 billion dollars in taxes and additional 764 million dollars, we did the math, in our dr calculate on big calculator there over 330,000 per workers in state. >> foxconn said they were trying to get its own chinese engineers to move to wisconsin, and they -- a lot of resistance saying it is too cold. [laughter] wisconsin -- >> yes. >> used to living in green bay. >> yes -- it is cold. truly frozen. >> focus on apple stock, rough road lately but tomorrow it
comes out with the new ipads and new macs you can get them tomorrow they're already out with them. knight would you buy apple at 203? >> i would buy it here a lot has been made of the fact that nair not going to break down sales of phones and people are saying they're not being transparent enough. i think that will blow over and its still a company with huge growth trading at a reason reasonable price? >> buy at 203? >> absolutely. two words profit margin phone sales dispointed a little bit and margins did not but up 20%. that's where the money is in the margins they'll keep selling phone. >> cash return bumped up 16% this yore and 100 billion return to shareholders. >> check big board we are now five minutes into trading session on election day and we are up 25 points but suzanne report there had, very low volume nobody is putting on major trades at this point with not sure how results are going to come many. look at cvs better profit there is. selling a lot more prescription drugs at the pharmacy stores.
and they're up nearly 2%. we've got a rosy forecast from the drug are maker, e-eli lilly that usually works wonders but eli lilly is down. flat sales at ralph lauren, and they are down 4% really are taking a hit there. how about the price of oil it is at this morning 63 dollars barrel not much movement here's the real story in energy. the average price of gas is moved down again. 2.75 down for 27 straight days. i would say that's a plus for the economy and the consumer. >> that's a credit for a tax cut, however, you want to look at it more money in consumer pocket. >> i agree with that. and i think that the energy complex coming to some bottom here is -- we're very close to that. >> difficult story. extraordinary story from under armour disturbing revelations about culprit culture there tell
me more suzanne. >> only this year 2018 when under armour told employee you can no longer charge strip club fee on your corporate credit card now on this wall street journal report it goes on to name anonymous sources that say that kevin plank founder chief executive was actually one of those that attended strip clubs. they said that he has to take a lot of the endorsement athletes and other clients to strip clubs. but in the future they will not be able to charge that on corporate credit card. also there's a party that kevin plank holds on eve of the preek and invited only attractive femaleses to attend a me too movement -- a moment happening at under armour frat house culture is that acceptable? >> ac description but stock is down 2% that's where we go. what do you got to say, mike?
>> under armour has disappointed wall street with a lot of what they've done over last few years but this fact they were going to legal establishment -- call it frat house call it -- 2018 me too movement if you're an investor in the company they should have no impact on your holdings whatsoever. >> but if you're a woman working in that culture it is not pleasant. >> i don't know for certain but a lot of high ranking women working at jurngd armor who are just -- >> only one female working with at under armour half of the work force is female. >> i would say -- well i would say that there might be in the tens probably multiple of tens. i would imagine. >> i don't know the answer. but let me just also point out that scott plank -- kevin 's brother left in 2012 on sexual misconduct allegations as well. stock uneffected down 1.35% i'll leave it at that. facebook launching -- launching retail popup stores for the holidays.
they're going sell products that popup on your facebook and instagram feeds. what's this they're getting into reare tail? >> it's really -- the smallest of play into retail it's not about but about branding they're saying you see these products a lot of them things that people follow you can buy them at a store for christmas to do things and go see and touch them. so they get brand awareness this is not about about growing their retail foot prints. >> okay facebook is not seeing growth in their old line business but instagram is where they're seeing growth starting business they want to put a business on instagrandmother a great move for facebook. 7-eleven is testing their own cashierless stores. 7-eleven it makes sense to me. >> it does. this is where the the future is. this is interesting you can use this with apple pay, credit card, debit card google pay and some items you can't use this for lottery tiblghts, alcohol,
and hot foods. >> different from amazon model they're saying put an app on your phone take the barcodes on to phone and not like amazon to take it off the shelf and leave so a lot of stories can do exactly what 7-eleven is doing with -- a scanner use your phone as scanner. simplified as amazon cashierless. 9:40 eastern time ladies and gentlemen even though election day we have to say good-bye to dr and mike murphy thank you very much indeed. which can that big board we're up 50 points. 56 points low volume, however. maybe the markets taking some interest in the idea are of a split decision. which would not mean a big move for the market tomorrow either way. we're up 50 points battleground florida a key state is for voters where they watch gubernatorial and senate race and take you to pollings down there today. president trump taking aim at big tech. he says, his administration is, quote, looking at antitrust
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. we're up, on low volume election day up 60 point for dow industrials 255 is where we are now this. president trump taking aim at big tech he talks about it every day he said his administration was, quote, looking at taking antitrust action against amazon, google, and facebooking. steve hilton is here the host of the next revolution on the fox news channel. do you think this goes anywhere? >> e hope it does. >> you want it to. we need more competition look just believe in free markets and free markets work when you have competition. in a way competition is an
antitrust policy is the anecdote to top down regulation if you've got competitive markets you don't need so much top down regulation now the problem is in tech. there's a really crucial concept that we used to talk about which is predatory pricing that prices products lower than it cost to make theming medical them in oro squeeze them out. silicon valley predatory prices is its business model it gives the products away. and that is how it gets these enormous market shares. so you've got to do something about that and i think you can start by requiring google, facebook, all of the rest are of them to get rid of those companies that they've acquired as part of their growth. >> what worries me in particular -- is not the economics of it. it's the fact that guys who run facebook and google know absolutely everything about a couple of billion people and can direct to them what they want to see -- what they want to think about and read and view.
>> it is frightening. truly frightening and not just in terms of information. exactly the sail actually on amazon even though a lot of us say it is a great service we use it. look what they're doing when a company puts its products on amazon amazon is getting data about products what does it do? it makes its own products to compete to squeeze everyone out. this is where it is going. look they want to be monopoly but our job to stop them. >> okay look, facebook they've taken down accounts because they engaged in misinformation in these accounts on eve of the elections. but okay so they take them down down sites it is what whack moly cannot sensor charges model which is user generated content wages of platform anyone can put up what they want but if you do that you have no control and it
disconnects with with competition because it wouldn't matter so much if it wasn't a place where most of the world information gets shared and disseminated if you have hundreds of pox and hundreds of different social networks it would matter less that some of them are krupghted by misinformation. >> you're living in california? >> i do. don't like me saying these things -- right there in silicon valley but then i should say beginning my wife is still at facebook not for long. >> netflix next. [laughter] i'll be able when i come on an you ask is me about netflix i'll have to do the same thing. >> sad ped at california because the bluest of blue states they're going to repeal the gas tax. >> it is really interesting but at some point it will turn because you look at results of one party rule -- in california -- i think it will -- >> a lot of "new york times" i don't know how to go. one california will reject -- and one day. >> mr. hilton you are all right we'll see you. >> thank you, sir.
check that market we have another a little bit more again low volume on election day but we're up 72 points pretty even split winners and losers in dow 30. president trump campaign blitz 11 states, in six day. did he succeed in making his case to voters? we'll have former white house press secretary sean spicer he's on the show, and he's next. hopes you drive safely. but allstate helps you. with drivewise. feedback that helps you drive safer. and that can lower your cost now that you know the truth... are you in good hands?
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to the midterms christina is at the polls in kissimmee, florida, but you know what christina i'm not seeing any long lines. where are they? >> but that's because -- that's because i'm standing outside right now we're not allowed to go inside but there are people there and steady stream of voters coming through. it is during the day, it is a workday so we're expecting polls to be a little bit more crowded come the afternoon. but there's several dozen car you may not see bnld me there are people here walking in and out talking us to, they see me extremely motivated by the midterm election and that's even shows in the number of early voters. for florida the 5.1 million people who have already voted. that's already one-third more than one-third of the registered votes so that's incredibly good for democracy. that shows that people are motivated. we're talking about some of the issues you've got andrew gillum running for governor, he's going
as ron desantis representing republican party and people focusing on governor race saying it evolving arranged economy talking about jobs, income taxes no income taxes in florida so people don't want to see that changed and switch over to senate race here. that would be rick scott who was the current governor of florida. versus bill nelson the the incumbent from democratic party he's been in -- in that seat since 2001. so he's been around people are very familiar with all of these faces those that are focusing on senate race, say that it has to do with how washington is handle hadding things and they're motivate bid either changing thing or agreeing with president trump. there you go you have motivated people and we're all day covering latest for you guys. back to you. >> florida as always front and center in every election. that's the fact christina we'll be back to you later thank you very much indeed. staying on politics who is with us now former white house press secretary sean spicer. all right sean let's get right at it call it split decision? >> i think there's no question
that we hold the senate and house could be -- decided either very late tonight. or potentially in a few weeks. i mean, i think that -- we're going to know by 7:00, 8:00 where this is going you look at early votes both in indiana and in virginia. northern virginia, middle of virginia barbra scott taylor david if they go down it is a big night for democrats and they'll actually take a sizable majority i think. meaning ten, 15 seats. but overall -- >> i think look if i -- right now, i think that the headwind are that we keep the senate, and that they pick up the house. i do hold out hope that if they get out the vote effort is like it was in 2016 able to really flush those folks last minute, and that's thing for everybody sit arranged talking about this if you think about what the 2016 election came down to number of state we won michigan by .3%, and there is not a lot of margin error what that comes down to is
does that get them out. so polls tell you everything you want but at the end of the day if you're a committed voter and don't vote it doesn't count if you are a mean republican but vote and again that's where -- we all get lost in just looking at the polls. smg there are 36 million people who have done early voting. and look at that almost every one of those states it actually favors republican which is not normally the case. look at the delta in states when you look at number of democrats versus really that have voted by party registration. it is favoring democrats but reallies in almost everyone of the states and if it is not it is close. republican have been election day vote rs so big thing to fig out as we look at data is are we cannibalizing and moving in forward or are these new voters or low propensity voters actually getting out -- that wouldn't normally vote in midterm and we'll know more as votes come in whether or not -- >> but you're optimistic.
look i also a think stuart one of the things that has gotten lost in this conversation is setting expectations game. since 1982, the president's party has lost 5 seats in the senate in this president's first midterm and 38 seats in the house. we're not talking about that in the senate. we're talking about potentially picking up seats. so therefore, they -- not even a blue wave. it's best when you talk about a split decision that defy history. there's -- a cover of one of the major newspapers, today that says democrats poised to make history no actually they're poised to defy history because republicans by keeping the senate not only picking up -- seats would actually defy history. >> i see the point. do you think there's anybody undecided i ask the question because i want to know if president swayed anybody who is now in the middle sway to his side with 11 rallies in six day. >> i did because it's not that they weren't decided i think
question is did he get them to go vote? and did he make that case? if you look at the evidence that we've seen in terms of enthusiasm over past couple of months democrats as we're coming out of the summer had about a 12 point enthusiasm gap. that narrowed. it is the president who has been on the trail and city after city state after state firing up those people getting motivated. getting them make the -- >> caravan economy. >> all of it turned it. >> correct. i think what you want in the last few days in a election is momentum, intensity and president has provided that. >> it is exciting. [laughter] i like it. i have to say -- >> like look if you do this, this is like what you guys get excited about in the markets going nuts on election like this is -- super bowl right and -- >> we're excited about market and the election sean spicer you're all right. thanks for joining us, sir, appreciate it. coming up heading to polls we're about to get a very important read on the economy. it's all that job openings, is the last big piece of economic
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♪ stuart: well like the graphic, like the music. 10:00 on the east coast right here in new york city. polls are open pretty much across the country. we're all over the potential out comes and what it means for you and your money. we're half hour into the trading session this election day the market is close to the high of the morning. we're up 75 points. we're about to get breaking news on the economy. it is all about job openings. i think we to the the number. what is the number. >> 7.009 million. slightly more than the month before. still more than looking for work. this is positive, very tight, very strong jobs market as we saw with nonfarm payrolls on
friday. stuart: 7.9 million job openings. for seven months in a row, more jobs available than people to feel them. ashley: exactly right. stuart: scott shellady, tjm managing director. strong, strong labor market, scott. >> the numbers on friday, stuart, a lot of guys thought it was rip your face off report. i didn't think so at all. it was not solid, offensive linemen, rugged, sturdy, three yards, a cloud of dust. those numbers show it. as long as we have those type of days, these type of numbers i'm not that concerned what really happens today. stuart: hold on a second, scott. want to go to ash about a story of foxconn in wisconsin. this plays to job openings. ashley: more openings than people to fill the openings. fox conn, hopes to hire 13,000
people in wisconsin, when it gets the factory up and running. the problem is, they don't have enough people to fill those positions. they're literally going to high schools, local colleges to try to woo workers to come to foxconn. it is definitely an issue. the unemployment rate in wisconsin, 3% in september. that is even below record low national unemployment. stuart: is there a story here about they want to bring in chinese nationals in management positions? ashley: they are. they're having a hard time persuading chinese engineers to go to wisconsin, for variety of reasons. one said, it was a too cold. stuart: speaks to super tight labor market. ashley: very, very tight. >> if you can't find workers you need in an advanced factory, with great conditions -- ashley: they will come from outside of wisconsin for high-paying jobs. illinois, minnesota, others come into wisconsin to look for the jobs. the actual local population is not there to support number of jobs that are open. stuart: tight labor market is
wonderful thing but rising wages. that's a fact. america as we all know headed to the polls today. yes the balance of power in the house in particular is at stake. the currently the gop has a 45 seat majority in the house. as for the senate, gop as you know, the gop holds slimmest of majorities i should say. congressman, darrell issa, republican from california. congressman, if the democrats take the house and the betting is they will do that, what happens, take us through it? >> i think the odds are they will take it. that is normally what occurs. the question is by how much f they take it by let's say five members, then nancy pelosi has to cobble together with more than twice that many people having said that they will not support her. so that is the first challenge. but once she does that, once a team of democrats do, they agreed on seeking to impeach the president, investigate until they can in fact indict people.
that is their foal. they made it very clear, that is what they will do if and or when they get the gavel. stuart: congressman, can they be able to put a stop to america's wonderful economy and our growth rate, could they stop it in its tracks? >> well, the thing the trump administration has done extremely well, they passed a few laws but they have taken away a thousands of regulations going to be reenacted or unwound this. this is the department of labor, so on. these were done, these were done in the appropriate way. so they can't reregulate. they won't have the votes to pass new laws. there will be ongoing fight where executive order and deregulation through the process will undoubtedly keep the economy moving forward. the challenge is that the additional tax cuts, tax cut 2.0, and 3.0, real changes that would take our economy to that next level, will probably be slowed by a nancy, will be
fought by a nancy pelosi house. that is a shame because if you just look at the stock market, as you do, in two years we've gone up over 7,000 points. the obama administration, which came in albeit at a low, only went up 10,000 in eight years. there is no question at all, given the kind of opportunity that we've had the last two years, we could easily go en10, 12, 15,000 more points and profits that go with that for our economy. as you said, we have negative unemployment effectively in the united states today. without major inflation. stuart: that is exactly what we've got. congressman, hold on a second, i want to digress about another story, about five critical races in california that could decide the balance of power in the house. ashley: they could. these are, four of these races are on the outside of orange county, traditionally a conservative outpost in and one
in central valley. most at risk, dana rohrabacher, running on 16th firm taking on harley ruda he has called for impeaching trump. this is 10th congressional district, central valley, large latino population, general denham, against democrat josh hearter, all voted for hillary clinton in 2016. interesting to see how the races go and the house makeup. stuart: darrell issa, you're from california, call the five tossup races please? >> jeff denham has been beating the odds in a nine-point plus democratic district for a long time because he and his wife reach out to the community, understand it, speak spanish an have been nothing but fabulous for every part of that distribute. so i show jeff as a keep. dana rohrabacher in the fight of his life but i think he
explained the real difference for the people of orange county and after millions of dollars, three to one spending against him, he is still slightly ahead in the polls. i call that as a yes. mimi walters are calling tossup. she has been a city councilwoman, a mayor, we keep here. my old district, to be candid was never in play, that one is not going to stay as republican. most of it actually was an area we took away from democrats in redistricting. the last one that i think is worth noting is ed royce's district. he is retiring. kim is an amazing candidate. she is so far ahead in spite of amazing amounts of money spent against her i think you will see thats as solid win against the democrats wish because the one thing they don't want is minority or woman getting elected and she is both. stuart: i think we'll all be up
late waiting for those five races in california to come in. i'm sure you're waiting for them as well. darrell issa, thank you, sir. we appreciate it. >> of course, stuart. stuart: let's get back to scott shellady. i want to go through various scenarios, get your reaction what the market will do. if there is indeed a split decision what happens on the market tomorrow morning? >> more of the same. i think the market will shrug it off and expecting that. i don't think that will affect the market. we'll have the slow grind higher as long as we continue numbers we've gotten as of late, especially last friday. stuart: second scenario, what if there is democrat sweep, they win the house and the senate, what happens? >> initial knee-jerk reaction to the downside. it will be slightly negative. but at the end of the day the changes will be slow and economy will be so strong, trump is doing a good job leading, we'll continue as we are, maybe not quite as much but still not that bad for the market. stuart: last one, suppose the republicans keep the house and keep the senate and increase
their majority in the senate, then what? >> only other better thing would be some sort of deal cut with china. i think the market would like that. stuart: you're saying this election today doesn't mean that big a deal for the stock market going forward regardless of the outcome for the election? >> no, i don't think so. i still say that with the numbers that we're seeing, you know has done such a great job with consumer confidence and ceo sentiment. that will not erode right away. maybe numbers will not be as strong but they will be good and that will be good for the market. stuart: scott, thank you very much. >> okay. stuart: check the big board, we're off the highs of the day. we're up 50 points right now. 25,500 is the level. check the big techs, please. certainly apple, new it pads and macs hit the shelves tomorrow. one of the biggest gainers on the dow which is microsoft up
2/3 of 1%. not a great deal of movement but the big techs are up. look at ge selling its lighting division to private equity firm american industrial partners. we don't know how much they're selling it for but they're up $9.40 a share on ge. where is the price of oil as of right now? $63 a barrel. by the way, can't put it up on a screen, but average price of gas is down to 2.75, down 27 straight days. that is good news indeed. election day, we're on it of course but we have plenty of news to cover for you. president trump is looking into, looking at antitrust at amazon, google and facebook. we'll have a guest on the show who says there is definitely a case to be made. >> shoe defense secretary mathis meeting with his chinese counterparts all about trump's meeting with xi at the g20 later this month. i want to know if this is a
prelude to a trade deal. i will ask john bolton's former chief of staff. he just left the administration. he is coming up later this hour. president obama on the trail, trying to urge democrats to get out and vote? was he successful? i will ask, what we call a reasonable democrat, former senator joe lieberman. you're watching the second hour of "varney & company." ♪ think your large cap equity fund has exposure to energy infrastructure mlps? think again. it's time to shake up your lineup. the alerian mlp etf can diversify your equity portfolio and add potential income. bring amlp into the game. before investing, consider the fund's investment objectives, risks, charges, and expenses. read the prospectus carefully at alpsfunds.com/amlp
stuart: on very low volume on this election day the dow industrials eking out a 50 point gain. 25,500 is where we are. cvs, better profit, stock is up. helped by strong sales of prescription drugs at the pharmacy stores. 75 bucks at cvs. marriott cut their forecast because of weak demand in north america. look at that, down 4%, just on the, not such a great outlook.
president obama, he made a last-minute pitch to democrats. watch this. >> mention what is at stake in this election. health care is on the ballot. making sure working families got a fair shot. that is on the ballot. [applause] what kind of politics we expect is on the ballot? how we conduct ourselves in public life is on the ballot. stuart: joining us now, former connecticut senator and vice-presidential candidate joe lieberman. mr. senator, welcome to the program. >> stuart, great to be with you. stuart: you watched president obama there. do you think that he won over democrats, won over the base and got them out to vote? >> well he probably helped because he is seen by the democratic base as a kind of hero but of course the
democratic base, if i may unsettle you, stuart, has actually moved to the left of barack obama. stuart: that is unsettling. >> yeah. i thought so. we'll see. this is a, this is a fascinating , important, still unpredictable day. stuart: a tug-of-war, isn't it? seems like president obama represents, i won't say the old guard, that is not accurate but the establishment of the democrat party as opposed to younger up starts way to the left. i don't think president trump fired up way to the left. that is my opinion. >> that is probably right. there are others out there trying to do that. if i may say an example you're concerned about, the whole u.s.-china economic relationship. so president trump has taken a more aggressive position. in a strange way, it is supported by some of the left of
the democratic party who generally have been anti-trade. president obama was generally, speaking, pro-trade, in fact, negotiated the trans-pacific partnership agreement which it was a multinational trade agreement with the asian countries. so it's a bit, it is a bit odd. you're right, the democratic party has now moved beyond the obama years. >> much to my distress. that is another story. >> yeah. stuart: what happens if the democrats take the house? maxine waters chairs the financial services committee. >> right. stuart: adam schiff chairses the intelligence committee. mr. nadler chairs judiciary. maxine waters, chairs financial services. you don't seem enthused about this. >> i'm co-chair of a group called no labels, in the midst
of all the right-left, republican-democrat, we're supporting a group of republicans and democrats, mostly in the house who we think will be problem solvers. that is, from the left or right they find their way to the middle to negotiate to actually get something done. those people you mentioned are unlikely to do that. so if the democrats take the house, i think the main difference will be that, they will be investigating, issuing subpoenas to the administration but, honestly, if they pass a left democratic agenda, it is going nowhere, because it takes three to tango in washington, the house, the senate, and the white house. stuart: but, senator, they would have leverage when the next budget debates takes place. democrats would surely say we have to raise taxes on business to pay for all the stuff we want. that gives them real leverage. >> that is a good insight. in other words there are some things the government has to do, like the budget that will force some kind of an agreement
between let's say the democrats who control the house, republicans in the senate and the white house. and now it is hard to imagine that the republicans in the senate and president trump would accept an increase in taxes. so the democrats better come up with something else they want as part of that bargain. more likely to be spending. stuart: i'm almost out of time. great to see you. >> great to see you, stuart. stuart: are you enjoying retirement? >> i am. obviously i keep my finger in public policy. stuart: clearly. >> but, i was privileged, honored, blessed to be 40 years in elective office. it was time for the promiseed land. stuart: [laughter]. ashley: hallelujah. stuart: rough-and-tumble, the excitement it all? >> every now and then i get up in the morning watch tv, i wish i was there, i wish i could have called mccain, whatever. >> do you watch us? >> it passes quickly.
no, i really move around the dial. this is what an independent does. stuart: [laughter]. senator, it was a real pleasure having you on the show. >> thank you, stuart. be well. have a good day. stuart: as america moves to the polls, we're voting today, some might need a little more than an umbrella. severe weather in parts of country. ashley: as you can see. stuart: coming up next. programing note, here we go, fox business special election coverage, 7:00 eastern lou dobbs for that hour. 8:00 and neil cavuto takes over, i will join him in the 8:00 hour. we'll be back. ashley the weatherman. ashley: i'm on it. ♪ hi.i just wanted to tell you that chevy won a j.d.power
dependability award for its midsize car-the chevy malibu. i forgot. chevy also won a j.d. power dependability award for its light-duty truck the chevy silverado. oh, and since the chevy equinox and traverse also won chevy is the only brand to earn the j.d. power dependability award across cars, trucks and suvs-three years in a row. phew. third time's the charm...
stuart: this is what happens when you lower your guidance, you say things are not quite as rosy in the future. that's what ralph lauren did today and the stock is down 6 1/2%. that's ralph lauren. look at square. if you didn't know they make the device that you plug into the phone so you can swipe credit cards to make a payment. they got an upgrade from citi. the stock is up 3 1/2%. lousy weather putting a bit of a damper on election day, ash. ashley: in some parts of the country. overall it is pretty good out there, especially to the west. in the southeast and northeast it is a bit damp and miserable and a little chilly in the places. according to accuweather, who has done research looking back at previous elections and weather, it can affect turnout up to 20%. they break it out by states. if it is damp and cold in new jersey, that favors republicans we shall see. if it is hot and muggy in florida, less people show out. if the sun is out, 18 to
24-year-olds get out in florida. if you believe any of that, there you have it. it is rainy, it can deter people from voting. stuart: believe this, 36 million people already voted. >> already voted. stuart: it was only 20 million early votes in 2016. ashley: people are motivated. stuart: weather doesn't count much for those folks. uber is giving discounts on rides to the polling station. other companies give employees day off. susan: time off, uber gives you $10 on rides in the big cities to get you to the polls, to ballots. lyft is giving discount. no excuse. companies are saying go out to vote. they're not taking any calls or meetings after 3:00 p.m. so you can get out and vote. 325 companies, including levi strauss, spirits maker diageo giving employees paid time off to vote. vf corp.
vans giving employees three hours of paid time to get your vote. stuart: i will take that. good. america votes today. yes, we are. i'm asking everyone for a prediction. can republicans keep the senate? what about the house? what about a split decision? i will ask katie pavlich for her forecast. and you know, this really was outrageous. a reporter calling michigan senate candidate john james for an interview. she thought she had hung up the phone. she hadn't. just wait until you hear what happened next. more "varney" in a moment. ♪ every investor should ask questions. is our money in the right place? what am i really being charged? and is it eating into my returns?
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♪ stuart: this is always a favorite. that's what i want. not true. i'm a very cultured sort of guy. ashley: ah-ha. stuart: check the big board. we're up 44 points for the dow industrials. this is on very low volume. it is after all election day. big tech names, there is some movement, mostly to the upside. nothing, well, not bad, look at amazon. up 23 bucks, that is pretty good. microsoft not much movement there. google i see up $16. so they're all up, just. ibm, that is up too. that is the biggest dow gainer actually. a dow stock, big winner there, 2% higher on ibm. the level is what, 122. avis budget, their profit, one company, avis budget, their profit fell short. weak demand in europe. down it goes. 5% lower. to the midterms, democrats
hold 195 seats in the house. republicans 240. katie pavlich, fox news contributor. "town hall" editor. call it, call it. >> you want me to call it? that is a big task. stuart: because the consensus is it is a split decision, democrats return to power in the house, republicans keep the senate. >> we've been saying it all along, midterms are about base elections. the republicans are likely to keep the senate if not gaining seats there. the house is a tossup. could be anywhere from 40 plus seats or maybe republicans keep the house. bottom line we have a ton of early voting numbers. in florida, for example, early voting outpaced all of the votes that are cast in 2014. amazing. now you have to gauge that. are these early voters who are new voters or are they voters who used to vote on election day simply casting a vote early. which means there are not additional voters. it is simply a wash. stuart: you will not call it? >> i will not call anything. i think we all learned our lesson calling these things but very much looking forward to fox
business's coverage, fox news, and "town hall." stuart: i will chuck two cents here. i think a split decision is likely but i'm cautiously optimistic that a very high turnout of trump's base will pull him through and that the gop can keep the house. i don't think that is beyond the realms of possibility. >> i'm very interested to see how president trump's work pays off or not. he has done more than any president in history to be on campaign trail. he announced in the summer he would be on the campaign trail, four or five days a week. everybody thought that was a lot. he has been, 10 rallies in four-days. we'll see if investment there pays off. it will certainly in the senate. keeping the senate is much more important than the house at this point, you can get things through like nominations, court system. a lot of his agenda can still remain even if the house foes to the democrats. stuart: by the way i had eric trump on the show sitting right there about an hour ago, i said where does your dad get energy
from? does he ever drink coffee. he hasn't had a sip of coffee, or doesn't drink, smoke. been like this all his life. >> quite amazing. if we bottle it up and sell it that would be amazing. especially today with a late election night. stuart: exactly. let's get serious. marijuana, legalized recreational, is on ballot in four states, michigan, north dakota, missouri, utah. you're smiling, why don't republicans jump on board do this. >> some have. stuart: it's a vote winner. >> true. stuart: you get younger voters coming to your side of the fence? why not do it? >> speaker john boehner, former speaker john boehner made his entire post washington, d.c., career lobbying for legalization of marijuana. yes, there is economic interest in this, in colorado for example. there is more money being paid in taxes as a result of legalizing marijuana. the concern i think there is a social cost. when you go to downtown denver, the situation there has been a
lot of young, young people coming to colorado simply to smoke marijuana legally, not necessarily to get jobs. crime rate has gone up a lot of placeses that have legalized marijuana. there is a balance here. on the economic side you're absolutely right. there are differences between each state on the ballot with the issue, with kind of legalization, utah there are different standards for what you're allowed to do with marijuana than there are in north dakota, smoking it, eating it, all those things i don't really know much about but there are details in the propositions on ballot people have to pay attention to. stuart: let's get at it, shall we, legalized for recreational purposes on national basis yes or no? >> i think that would not be on the table in the near future. stuart: i said, legalized recreational. >> i'm a product of d.a.r.e. i will say no. stuart: katy, straight to the point. we like that. >> my mom is watching also. probably.
stuart: okay. katy, thank a the lot. we'll see you throughout the day. i'm sure. >> thanks, stuart. stuart: president trump says let's get the quote right. he is looking at antitrust action against facebook, amazon and google. come on in, economist, peter morici. start with amazon. are there any grounds for a solid, antitrust case against amazon? >> any grounds? of course there is some grounds. both amazon and google have monopoly power. that is the first test. the second test, have they abused somebody? there is nothing illegal about having monopoly power if gained by having a superior product. in amazon's case, there is concern they took advantage of their business partners. lure them on the platform, learn business practices, make offer they can't refuse, sell out or
we'll create a comparative business. is that legal? that is an interesting case we haven't tested. google is something entirely. the european union basically persecuted them. stuart: okay, my problem with these companies especially google and facebook, that they know absolutely everything about you and i and maybe a billion other people. they feed us stuff to read, to think. to watch on tv on our little screens. i don't like to see that kind of extraordinary power, given to two or three multibillionaires. that is my problem with all of this. >> fair enough. but that is not an antitrust problem. stuart: i agree. >> that is more a privacy problem. remember subliminal in the advertising of early days of tv. flash an ad so quickly you didn't know it was there, but may impression on your eye, your brain. then you were in favor of the product. congress has to speak on this. it's a very complex issue. but we have to start to unbundle
it. because they simply are too much into our lives. after all this get up and go, you know, facebook was looking to read what was inside of our bank accounts, to see our transactions. they were asking banks to partner with them on that. google right now is letting some of its app developers read your email. they say they wipe it clean of you know, of your identity, but look how it correlates with other behavior. that's nonsense. i don't want anybody reading my email. that is ridiculous. i agree with you but it is not an antitrust issue. stuart: do you think a solid antitrust case could be made against amazon, and/or google that would result in a conviction of and splitting them up? is that all possible or pie-in-the-sky dreaming? >> that is three tests. make a convincing case, i think in both cases you can mount a case. win? you might win a some sort of limited action with regard to
amazon. break them up? how would you break them up? remember the microsoft situation? i don't think we're looking at jeff bezos becoming the next jd rockefeller. the best target, if you're a regulateor, if you're a good democrat and don't believe in free enterprise, it is amazon. consider the cloud. they have beaten the pulp out of ibm, microsoft, everyone else, by creating a cloud service much less expensive for them to create. they have huge margins. that they are that creative. do we want to take them out of the game? stuart: that's a good question. >> we crippled microsoft with antitrust case. there is no credible way to break them up. there is no credible way to break amazon up. stuart: it is fascinating story. >> that's true. stuart: peter, thank you, got it. of course it is election day, president trump as we know now held 11 rallies in six days,
last-ditch effort to get pub opinions out there to vote. did the gop do enough to mobilize voters? i will ask katy that question. migrants coming to the border. i want to know what the plan is when they arrive. i will ask one of the border protect people. that is next hour. james mattis, will meet with his chinese counterparts friday. president trump meeting leader xi at the end of the month on g20. i want to know, all the meetings, all this building up to a trade deal soon? i will ask the question, more "varney" after this. ♪ only half the story? at t. rowe price our experts go beyond the numbers to examine investment opportunities firsthand. like e-commerce
♪ ashley: former white house press secretary sean spicer joined us last hour, and he predicted a big turnout of republican voters. take a listen. >> look at the delta in a lot of these big states. when you look at the number of democrats versus republicans voted by party registration, it is favoring the republicans in almost everyone of the states where it is not, it is close. republicans are traditionally election day voters. the big thing to figure out as we look at the data, are we cannibalizing election day
stuart: not a great deal of trading being done. the volume is very low. very stable day so far because it is election day. the price of oil, yeah, that is a seven-month low all the way down to 62 bucks a barrel as of right now, down a dollar and because of that, we have gas keeps on falling. national average is now 2.75. by the way i paid 2.51 in new jersey the other day. ashley: very good. stuart: saving money. defense secretary james mattis will meet with his chinese counterpart on friday. that is ahead of president trump's meeting with leader xi at the end of this month. joining us now, fret -- fred fleitz, ceo of center for security policy. welcome to the program. good to see you. >> stuart, good to be here. stuart, i'm looking at timeline, mattis and chinese counterpart on friday. president and xi at the end of the month. are they moving towards some kind of deal on trade? >> i think security issues and
trade issues are on different tracks. we're working on both of them. trade is extremely important to president trump. let's be clear here. the chinese have been engaging -- stuart: ah, there you have the problem of live television. on occasion your satellite connection goes down, for whatever reason. it may be heavy rain. somebody may have jogged something. ashley: more money in the meter. stuart: i believe he is back. fred fleitz are you here? >> yes. stuart: start again. >> trade is so important to this president, china has gotten away with intellectual property theft and predatory trade practices so long because no president stood up to china and prepared to basically pay a price to get it to change its behavior. but we also have major security issues. we have militarization of the south china sea. freedom of 1/2ization of the south china sea. north korea and iran. china was recently granted exemptions to continue to buy
iranian oil despite the fact we put sanctions back on iran. i think mattis will say to the chinese officials very clearly, this exemption is temporary. we'll cut off all oil exports from iran in the near future. stuart: so we're going to maintain our hard-line. how then do we get any agreement with china? we can't really submit publicly to our hard-line, they would lose face. that is not something you want to do if you're the leader of china? i think the president is working out a cooperative relationship with beijing. we'll work together as allies and friends i think you can see by the way president trump reached out to president xi, he does not want ad very cheryl relationship with the chinese president.
stuart: you think it is an uphill deal. >> we're waiting the administration out. we can't let up the pressure. the chinese know, we wait long enough, u.s. officials let down their guard and stop pushing. president trump will not do that. stuart: you were the chief of chaff with john bolton. >> yeah. stuart: are you optimistic a big deal will be done? >> i am optimistic. we're moving slowly. we had the deal with canada and mexico. we're pushing the europeans for better trade deals. he talks about automobiles. fair trade deals. he is focused like a laser on thishshoes. the chinese know this. stuart: fred fleitz, you know what you're talking about. that is always appreciated. thanks for joining us. >> thank you. stuart: show you a headline from the "new york times." here it is, trump closes out campaign built on fear and division.
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stuart: now we're up about 80 points. 25,500. listen to what president trump had to say about the media at his rally in for the wayne, indiana. roll tape. >> i do eventually want to unite but the fact is we're driving them crazy. we're driving them crazy. they don't know what to do. they're going loco, loco. that is all right. hopefully will come together some day like a beautiful puzzle. stuart: come on in howard kurtz, media buzz host. do you think the president is deliberately doing this, goading the media, because he loves their response? >> absolutely. you could see how much he is enjoying himself with the word loco, sticking it to the press. one of the big problems with the way most of media cover the president, they do overreact, when he sticks it to them, baits them. he said the first sentence he wants to unite. you think after the elections
would be good move politically for the president. he may have little choice if democrats win the house. right now he is seems to enjoy the partisan warrior role. stuart: do you think he is wrong to do that? the president of the united states, the media is the media, he is going right after them, highly critical, clearly provocative, is that the right thing from you as journalist? >> i think sometimes he goes too far. i said to this before and american people. enemy of the american people, i don't like that line, i don't think journalists are traitors. it i a two-way war. he is getting pounded, pummeled, brutal fashion in press don't like him personally, his style, don't think he is presidential. all of that he is entitled to fight back, by the way for his base, the republicans most fiercely loyal to him. they love it. they don't trust the media either. that is why he does it. would be nice to lower the temperature a little bit is specially in light of recent events. stuart: but i actually think the temperature will rise after these midterms, especially if
the democrats win the house, they will unleash subpoena power, investigations, impeachment. i don't think that the tone of politics as represented in the media will go down in terms of temperature. i think it will go up. >> i think you're absolutely right. that if the democrats, if nancy pelosi becomes speaker and democrats have control of the machinery of the house, there will be endless investigations and subpoenas, that sort of thing. sometimes other side has done that as well. that will generate all kinds of stories. i think probably not that much will get done in washington next two years. president could have opening, depending on margin, if he wants to go back to infrastructure bill he used to talk about in the campaign early months of presidency, might get democrats to cooperate. i'm not optimistic. it has been two years. press coverage is very caustic. don't say he should not be held accountable, he sometimes goes too far with his words. hard to say everybody will
unite, we'll all sing kumbayah. that is not happening. stuart: that is not happening. headline from the "new york times," trump closes out a campaign built on fear, anger and division. do you think that is a fair headline? >> i think for the last few days this is pounded by "the times," "washington post," other media in news stories. not talking about commentators or op-ed columnists. i think it is somewhat unfair paint trump as only figure or force that is divisive. it is fair to report that he decided to close the campaign on caravan, immigration, birthright citizenship. i think that is fair. that pose overboard. "washington post" abc poll says blames president trump for divisive rhetoric that could encourage political violence, half the country also blames the media for divisive approach to covering news that leads to political violence. i blame the perpetrators. that part of the story is not being reported even in light of the stunning poll finding.
stuart: fair point. always a pleasure. dying to see what you say about the my terms when we get the results tomorrow. >> me too. stuart: everybody is in this. howard kurtz. thanks very much indeed. we are at the high of the day on the market. dow industrials up 90 points now. 25,550. it is election day. the volume is very, very low but we are up on this election day. how about this? fidelity, they handle a lot of 401(k) accounts, they say 17,400 accounts had a balance -- 187,400 accounts had a million dollars or more. same thing with ira's. millionaires. that is middle america, feeling effects of strong economy. my take, top of the hour. ♪
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stuart: you're the one about the rich get all the benefits or tax cuts are the stock market gains go to the superrich. you. you heard that. it's nonsense. it would be hard to call it a lot. the democrats are being economical with the truth. nobody handles 401(k) pension plans in the summer 187,400 accounts of a million dollars or more. fidelity also handles iras, 170,400 in them. in total 55 million americans had a 401(k). clearly the market rally has enriched the retirement plans of tens of millions of people.
it's not just the superrich bearded middle america. this was closer in terms tax cuts. the booming economy also flows from tax cuts are not too has enriched a broad cross-section of america. the democrats claim the tax cut did very little for our country or for ordinary people. that is nonsense. in the recent past, wealthier people come and the elites voted democrat. will they cut off their nose to spite their face and reject the policies that have enriched middle america? remember, president trump wants to make it easier for more people to enroll in 401(k) and he wants more tax cuts, more growth. why change course when growth and price rarity. this time tomorrow we'll have the results. i know where i stand. i want the growth agenda to keep on going. the third hour of "varney & company" is about to begin.
close to the height of the of 90 points now and we've got the majority of the dow industrials on the upside dared come on man, scott barton, fox news contributor. you heard my editorial say it simply not true that the stock markets rallied benefit only the superrich. you can shoot me down? >> now, i will shoot you up if i can say that. you're right, stuart appeared up for you a personal story. orwell's management firm i manage money for low income and some of the high networks and across the board that enthusiasm , that interest them and a desire to invest money and buy stock or mutual funds is at an all-time high. it's great to get phone calls from people in inquiries from
people all across the country again many multiple income levels to say i want to get involved in the market appear to want to get involved in american business because of the backdrop, because of the economy and because of the president. trimmed to less talk about the election. three scenarios and i want you to tell me what you think will be the effect on the market tomorrow morning if one of these scenarios takes place. first of all the split decision. i know you've already said it's baked into the market, but you tell me if it is a split decision, democrat take the house, republicans keep the senate, what happens tomorrow morning on the market. >> to take a page out of one of my favorite "seinfeld" episodes, let me sum it up in one word. nothing. that's probably good because the reason being is the market needs to focus be on the elections at some point. we need to refocus on the economic data and the backdrop of what we have going on in this country. the markets gotten stuart into a
rough mood of late. and therefore i think getting past these midterm elections and getting the expected result is a really good result as far as getting a chance to move on. stuart: let's suppose another scenario that republicans keep the house and expand their lead in the senate. what happens on the market tomorrow? >> initially that's going to be great news. i could imagine a 250 or 350-point rally in the dow similar to what we thought towards the end of november 8, 2016 in the market saw things are getting cleared we got the result we got in the presidential election. to kind of maybe sell them to because i'm not sure that's going to last too long haired >> last time the democrats reposting it. what then? >> look out below. the markets will get concerned about the trump agenda. there's going to be rhetoric from the love spread all over the news they present media. i would be very careful with stocks going forward and that is why just as a precaution, meaning an event like that possibly occurring would start
to write to fixed income positions today as well as the last couple weeks and gold positions as well. stuart: scott martin, thank you for joining us you will see you again, soon. bergen rnc spokesperson kayleigh mcinerny. we've got unprecedented economic and financial growth. if the boom in the last couple years. did that message get through to voters? i know the president pounded it, but as the president aware of that? >> absolutely. but here's what they need to become aware of and it was our mission to make aware of the aware of the stakes that this can easily be reversed that should nancy pelosi take the gavel tax cuts to point out for the middle class blue collar workers, low income individuals is out the window. mistakes are what needed to be emphasized enough that we've done. stuart: handicapper for us or call it. what you think were going to get here? it's your job to promote the republicans. what he thinks really can
happen? >> will make significant gains. i'm confident of that. the houses where it's anyone's guess. we put in the hard work but the reason is when you look at these polls there are 500 sample types which means the margin of error listening to the right or left five or six points. when you look at 30 races that are one print separations, nobody knows. those who are saying we're going to keep the house, not keep the house, not keep the house come in a silver seen 80% bogus and not based on anything scientific stuart: when you do an internal polls to call people up on landline, cell phone spirit >> what we do is not polling. it's more sophisticated and more accurate, voters scoring. we use consumer data to model how an individual will though. you specifically. not a sample size but all across the nation will use the voter model to predict with great accuracy. stuart: where'd you get the data from? >> consumer data appeared to
aggravate consumer data and how the model. we have a program called data trust good at $250 billion operation. they get the data from consumers, from companies and then they model the consumer data and how they will vote in predict with great accuracy with michigan within a few hundred votes. stuart: what is your prediction for all of them? >> we can show all of our cars, stuart. he could go either way. we have a great tailwind behind not. stuart: i'm not going to get it out of you. doesn't matter. thank you for joining us, kayleigh mcenany. he'll be here all day, all night well into tomorrow. that is correct, yes. stuart: facebook opening nine pop-up shops, actual stores for the holiday season. the stores will be inside macy's. they'll each have dozens of brands heavily advertised on facebook and instagram for the stores will remain open through
february. facebook gets into land retailing. 711 going after amazon. it's testiness canto store in dallas. you use an app on your phone, skin items in the store, pay for them without waiting in line. 711 expands to other cities. some individual stocks moving. cbs reporting higher profits, strong sales for prescription drugs in the stock is up to 20% of the drugmaker eli lilly given a strong outlook from the sales of some diabetes drugs mistakes but patience is why the stock is down 3%. ralph lauren reporting flat sales lowered its guidance down 7%. migraine caravans with four groups headed towards our southern border. i want another plane when they arrive. u.s. customs and border protection people with us this hour. a big number on job openings. more than 7 million in september. we now have more job openings
and give the filling. that is a really good, strong economic indicator. marijuana on the ballot today in four states. michigan, north dakota, missouri and utah. coming up, we'll talk to the head of canvas and. that's the number one selling cannabis branding california. he thinks it won't be a state issue because the president will steal the issue during his reelection bid. we'll see about that. america's host today, turnout will be very strong. remember the record for midterms was set in 1966 when 40% of the electorate voted. if possible will be the turnout today. stay with us. the third hour of "varney" continues. ♪ think your large cap equity fund has exposure to energy infrastructure mlps?
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stuart: fox gone now denying reports that they want to bring in chinese workers to fill jobs in their new wisconsin plan. the statement to the tech website is what it says. we can categorically state that the assertion we are recruiting chinese personnel to staff our wisconsin project is untrue. it remains wisconsin first. got it. uber and left want to make sure everybody votes, so uber is offering a $10 discount on rides to the polls. lyft him in a promo codes to get 50% off your ride to the polls. the migraine caravans now four groups headed towards our southern border. come on in, ronald colburn, national deputy chief for the u.s. customs and border protection. good to have you with us today. can you describe what is the plan when these caravans arrived at the border. what are we going to do?
>> the united states border patrol is coordinating with the department of defense, so homeland security and defense are working together to augment between the ports of entry security. meanwhile at the port of entry, they are hoping if they arrive they are and apply for some sort of asylum or credible fear claims that they will be processed in an orderly fashion. those that will attempt to cross other than ports of entry across the border are hoping to prevent that or rest those that do. stuart: is a prevent that coming and it won't be allowed to set a single foot on american soil. >> that is correct. once they have set a foot in the united states, they will be arrested. they can be processed criminally or administratively. if they have claims of what we call credible fear or asylum than they can apply for that at that time just as they would at the ports of entry and they are
being coached to do just that. stuart: sounds like we're headed towards large number of people who we have to put in for cities on the border once their claims are processed. if that's what going to happen? >> occurred. the administration is still considering all of their options. just to point out in south texas alone the furthest and shortest route to entry to the united date, the mcallen texas area, rio grande valley have received 10,000 people entering other than the port, in other words crossing illegally over the last two weeks. that is the equivalent of two caravans alone. >> i was going to ask you about that. we got a report from border patrol agents that caught an average of 1100 migrants each day during the past year. is that number accurate? >> yes it is. in fact, they are up nearly 100% last year from the previous --
previous fiscal year. the gulf coast of mexico, texas all away to the california pacific coast. all along the border 100% up in arrests. stuart: why do you think this is the case? >> they are being attracted here because of the rumor of asylum. the rumors that they will be released into the united states. i've also been told that one in three that issue and gold bracelets and released on their own recognizance to a further hearing or cutting the bracelets off within the first week having arrived. so they are being released into the united days pending their hearings. the hope would be of course to expedite the hearings and those that do not qualify for asylum be removed to their home countries. stuart: thank you for image for supplying solid information which we need at that time. appreciate it. apple's newest products come out
tomorrow. get your hands on some are releasing a new ipad pro, macbook air and a mac mini. apple shares have been hit hard over the past two days since giving a not so rosy outlook for iphone sales last week. up-to-date $230 a share. nasa has begun a series of quiet supersonic research flights of the texas gulf coast or galveston. testing how the community response to the noise. the aircraft could eventually cut commercial flight times in half. the tests will take place over the next two weeks. in this one study looks at how long it would take you to become a millionaire according to what do you live in. if you invest your money wisely in a state that took a top spot would only take 28 years to become a millionaire, which stated that? the answer is next. new highs of 127-point, a half percentage point. 25.5 on this election day.
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$16.42. marijuana is on the ballot today in four states. we have a guest coming up who says president trump is going to make a presidential campaign issue for 2020. we are going to talk to the head of ken dustan, the number one selling cannabis branding california. two big stories of the day america votes in the market waits. the dallas had a tired today, still, still up 100 points. history unfolding right here. "varney & company." ♪ at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade,
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the right relationship with a corporate bank who understands your industry and your world can help you make well informed choices and stay ahead of opportunities. pnc brings you the resources of one of the nation's largest banks, and a local approach with a focus on customized insights. so you and your company are ready for today. stuart: holding onto a triple digit rally up 107 points. low volume for this election day. two thirds of the dow 30 looks like at least her in the green. the s&p 500 wears out. that is up in percentage terms not as much as the dow up about a third of 1%. as for the nasdaq, the home of the technology stocks up again about one third of 1%. give me the big tech in detail. i believe it is a mix picture. this put down a fraction.
amazon, affable, also that straight up, microsoft down a fraction. voters in four states will be deciding on marijuana initiatives. michigan, north dakota and utah. our next guest says president trump will eventually take this issue from the democrats. the ceo and founder of ken dustan does with us, the leading marijuana branding california. all right, adrian. using president trump wants to legalize recreational marijuana and it's going to move towards that in the next two years. what's your evidence for making that suggestion? >> well, i would definitely say that heading into the 2020 election cycle that president trump will look to make a push for medical marijuana as part of the platform, simply the polling if you look at the president who is a shrewd politician irrespective of what you think
of his personal politics, he is very shrewd and if you look at the polling, 90% of americans are in favor of medical use marijuana. 60% of their rental is in every major swing state whether it's michigan, ohio, florida, pennsylvania, new mexico. the list goes on. they are to have some form of marijuana policy. stuart: what you're talking about here is reclassified marijuana from a class one drug along with tara when and cocaine so banks could finance the marijuana industry. if the president did that it would be good news for your business, wouldn't it? >> yes. some form of rescheduling general is taking would be very positive for the industry but we don't even have to have rescheduling because right now there's any legislation. the safe banking not, the small business equity act in the state factor all somewhere meandering
through congress and what this election cycle we may well see some of those come through and be voted on prior to 2020 irrespective of whether democrats or republicans take this election. stuart: you think the president will move in this direction because the polls because the polls have moved in this direction. there is significant operation -- opposition to this. it's not a universally in favor of it. >> you're absolutely right, doer. there isn't universal support. however, it's more of a generational issue than it is a republican democrat issue. if you look at this election cycle, we have 57 retirements. people like john conyers are being replaced by richey got to leave, so we are replacing an 89-year-old man with a 42-year-old woman. most people under the age of 50 understand the importance of medical marijuana in adult use
marijuana. if you even look across congress already you have large bipartisan support for medical cannabis. stuart: adrian, thanks for joining us. we'll see you again in. that graphic means we're going to turn to control congress elections. the first polls close at 7:00 eastern in our next guest will have a very long night watching all the returns coming in. he has our next guest, fox news politics editor chris dye wool. welcome back to the show. >> don't make me feel tired already. we've got to have a lot of energy. stuart: you're on the decision desk. take me inside the war room, just take me through the night i was going to unfold. people don't want an election day.
we had to do something radical. we'll know more about the electorate are people who didn't vote. we will be faster and better as a result of this. and by 9:00 or 8:30, 9:00 we'd be able to predict the results of all of those states that have come up on the screen. there is the most probable scenario with 35 seats in the house, not to take a thorough majority. we will know we are in that space and then i will sort of
crying on as we go through. there's three other scenarios. one is the next most probable that there's a lot of new democratic voters and we missed them in the polls have missed them in the state but nevada, texas and other places where there's huge increases in turnout that that happened. if democrats over performed, will know very early. we'll know on the east coast states was happening. conversely there's still a and republicans stick together. it's a unity question for republicans. if they stuck together and took the coalition of more affluent and coming out in force, we will see that early and with that made going to shape up to be. stuart: looking at the polls come in the establishment polls we've seen the consensus is the democrat take the house on the republicans pick up an extra one or two seats in the senate.
voting in who's not voting. we will teach you. we'll absolutely tcu. stuart: who you are going to have a very long night, but it sounds like you're going to have fun. >> were going have a blast i promise. there are more than 7 million job openings. come on in print image of it. that is a signal of an extremely strong and tight labor market, is it not? >> stuart come and visit is official and a barack obama's economy. 10 to 20 million americans put on the job market after the great recession. they are going to let that stuff.
that's the american dream. stuart: wages have to rise. wages or working conditions. they have to get better. if you've got such a tight market, more jobs available in you've got to attract people. i would imagine wages are set to go up even more, aren't they? >> wages are going up at a healthy rate of 3% and another wonderful thing happens when people's dark to be paid more to become even more productive because they're being paid so much. they require that they innovate ways to work. that's the even further accelerate economic growth. you can add the obama era sitting on the sidelines as the story of 2016 and before. >> i go back to the 1990s when bill clinton was the president and people were talking about the goldilocks economy. not too hot, not too cold. how would you describe today's economy? >> not too hot, not too cold. that implies the economy.
people are getting better at working. we don't want to stop that. the idea we should stop that was given to us from keynesianism in every 10 keynesianism tried to take the punch bowl away of resulted in something like that edition of the great recession. stuart: looks like this calendar year 2018 will get a growth rate for the year between the 3.5% and 4% roughly in that range. what's your projection for next year? >> first of all that the first time since 2006 we will does not. it's an embarrassment on the economic history that this is the first 12 years we've ever had 3% growth every year. hats off to the american economy for achieving none in 2018. after that i can expect more of the same and if we lower taxes more, 10-ton of regulations and really get the free trade going through all these trade deals, 4%, 5% of the american norm.
>> will take it. thanks for joining us. we'll see you again, soon. this is the time we check other markets. bitcoin 6400 bucks a coin for the price of gold $1200 an ounce. we haven't seen much change recently. sixty-two dollars a barrel in $61 a barrel. that is a seven-month low. as o'neill comes down, gas declined sharply with our national average of $2.75 per gallon down 27 straight days. california people are voting whether to repeal an increase in the eighth gas tax. it doesn't look good. looks like the gas tax days. we'll talk to california's republican gubernatorial candidate john cox. i want to know what happened with the gas tax repeal. president trump in 11 states in a whirlwind tour leading up to the election, the ditty sway voters who were on the fence?
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>> "the new york times" accusing president trump of campaigning on division and fear. eric trump told us earlier today that they still do not under and why his father was elected. >> in your time to give my father 1.9% chance of winning. they do not understand the country. they do not understand all of our jobs. they went to china, all these other places. we lost 70,000 factories between 2001 and 2016 in this nation. those jobs disappear. how is he going to bring these jobs? it's not going to happen. abracadabra.
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don't stop taking xarelto® without talking to your doctor, as this may increase risk of blood clots. while taking, you may bruise more easily, or take longer for bleeding to stop. xarelto® can cause serious, and in rare cases, fatal bleeding. it may increase your risk of bleeding if you take certain medicines. get help right away for unexpected bleeding or unusual bruising. do not take xarelto® if you have an artificial heart valve or abnormal bleeding. before starting, tell your doctor about all planned medical or dental procedures and any kidney or liver problems. learn all you can... to help protect yourself from another dvt or pe. talk to your doctor about xarelto®. stuart: amc the movie channel jay and i should say, their subscription plan has taken a milestone. they're going to have millions of subscribers who pay 20 bucks a month to see up to three movies a week. this comes as its rival movie pass has been losing subscribers amc stock is actually down to
.5%. back to the midterms, president trump is back at the white house today. in the history of our country. the hottest jobs market on the planet earth. everything we've achieved is at stake tomorrow because they can take it apart just as fast as we built it, but i don't think that's going to happen based on what i've been all over. stuart: much luck with us, chairman of the american conservative union. i do believe president trump got to his base and really fired them out. the ditty change any minds of those in the middle? independent or undecided. >> i think he did mostly because the former american president wants to have the business of
america is business. when the economy is this smoking hot, stuart, and makes people realize that their vote matters. the key thing that president trump did is try to convince trump voters from 2016 to do something most of them probably don't them probably down to which his boat in the midterm election. if those low propensity voters turn out today, republicans could have a big night. stuart: 36 million early voters in 2016. are you seeing the same things. more states are marking -- making it more convenient to vote early. what's good for republicans is a lot of the polls that started to narrow at the end were broader couple days ago. maybe the early voting will prove -- the analytics are
referring to shows that people in republican leaning precincts and registered republican and to be voting a higher percentages which is a big deal for republicans because we tend to be election day voters. stuart: you see this and the inside. you know it's going on from the inside or the can and this is that it's democrats when the house republicans increase in the senate. is that your take? >> you know, that's the most likely scenario you could say, but i think republicans could have an awfully big night in the senate. i think, you know, they could add two or three or more republican votes in the senate which is a big deal especially if we have another supreme court vacant the which i think has to be pretty likely in the next 18 months. on the house side the republicans are definitely in the mix. they just have to win 80% of these tight races. they'd have to really nearly run the table to hold the majority. it's a tough thing to do, not impossible, just tough. stuart: i wonder if you can explain florida to me.
what is with the gubernatorial race there? andrew dillon is flat out progressive with them very, very strong ideas on taxation and public services and he's winning. i don't get that. >> i guess we don't know until we count the vote. statewide races in florida tend to be decided by a point in a house so you have a big senate race there with governor rick scott and bill nelson and then you have this governor's race. when i first saw what gillam stood for i thought there's no way the people affordable support that. i'm waiting to see what the -- stuart: at some long item will be up all night to both of us. we're going to love it away. >> it's like the super bowl for
me, stuart, although a lot more important. stuart: you've got it. thanks for joining us. we'll see you again later. check this out. video from president trump's rally in missouri last night. a woman collapsed and the crowd begins again amazing grace issue is due to medical attention. the lady is okay. you can hear amazing grace. they suspended for 15 minutes. 122 is level and ibm. just a few weeks ago was on 50. the profit fell short. we demand in europe, stocks to represent. sure this would be a dunk. voters would vote to repeal it. i want to know what happened. i'll ask the republican for governor momentarily.
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tree at stuart: the recent polls show this proposal is going to lose, probably the gas tax days. joining us now is california gubernatorial candidate john cox. welcome back to the show. great to see you again, sir. been a great to be with you, stuart. stuart: what happened to the gas tax? californians want to pay more? >> the corrupt cronies spent 40, $50 million. i'll tell you why. i think it's actually still got a good chance of being repealed. i'll tell you why. these polls are involving operators to call people on cell phones or landline and they read than this title. these guys are so corrupt they drafted a title, which is the first language you see that so incredibly convoluted. when you read this thing over the phone, i think a lot of people said i don't understand that. i vote no. but when they go in the voting booth i think they'll know this is the gas tax, it's gone.
the polls show if you tell people it's the gas tax it wins two to one. there's a good chance. stuart: now you're way behind kevin newsom in the gubernatorial race. i think you're 15 to 20 points behind. you think you've got a chance? are these polls wrong? >> maybe you should ask president hillary clinton that question or maybe better to california asked governor tom bradley also he is deceased. you can't really ask him. everybody thought mayor of los angeles tom bradley in 1982 is going to win. he was way ahead in the polls. you know, and they coined the term the bradley effect and i think that's what's going to happen today. i think people are going to aquinas the newsom effect. people said they're going to vote for him but they are going to come out. my answer to this and the message is help is on the way, stuart. people really need help in this
unaffordable state. they know what san francisco looks like. they're not going to give my opponent a promotion. they want to live where they can afford a house or apartment. they want to be able to afford gasoline and electricity. stuart: the gubernatorial race in california, is it a referendum on president trump? >> by opponents tried to turn it into that and i think i've been giving the message that is 2000 miles away. what you need to focus on, ladies and gentlemen in the state is the quality of our schools which is now 47. they should be number one, they will be. the wasted money on the bullet train we will redirect that and refund the registration fee that people pay. water rationing, people don't realize that california will have water rationing in a few years. i'm going to and not die building reservoirs and a validation plans again using
money. people want a better quality of life. they don't want to get caught up in all this partisan wrangling with washington. they want to focus on bread-and-butter issues in the quality of life in this great day. i think when they go in the voting booth that is what they'll be voting on. i urge every californian to make sure they vote and send a message to corrupt guys in sacramento that you've had enough. stuart: john cox, great having you on the show in recent years. we appreciate it and wish you the best of luck today. >> thank you, stuart kum appreciated. stuart: we did reach out for an interview. he has not responded me to the request. of course there will be more "varney" after this. see that's funny, i thought you traded options.
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stuart: which have a triple digit rally on the dow. intrigued by that. see if susan abrees seems market accepted it will be a split decision. democrats win the house, republicans keep the senate. that seems to be scenario which investors approve of. susan: that's a base case scenario. >> if doesn't swing. if the house did you not swing over to the democratic side, market positive. on other hand if the senate swings, market negative. stuart: i would agree with that. if it's a split decision, kind of market neutral to slightly. >> right. stuart: if republicans keep
house and senate, a rally. if democrats sweep house and senate, down we go, absolutely big time. susan: can you imagine next two years, what gets done? nothing. stuart: what gets undone would be a lot. our time is up. triple-digit gain for dow jones industrial average. i will hand it over to neil cavuto. sir, it is yours. neil: stuart, you made it sound like the election was today? stuart: yesterday. i believe you and i are together tonight to talk about. neil: thank you, my friend. we're following that, very scenarios. stuart was where markets expected. consensus they have split government. market tends to like that. seems they're factoring in. surprise in the house, republicans hang on to that, that would really help stocks. thatthat is a view widely share, but not widely-held. something markets would like to ut