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tv   Varney Company  FOX Business  November 9, 2022 10:00am-11:00am EST

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stu: booed morning, everyone. good morning, everyone. tell me something good. we'll try. not much good, down 260 on the dow and 120 on the nasdaq and some disappointment we did not get that red wave. the 10-year treasury yield coming in at 4.14. not much change from yesterday. the price of oil, i believe that's going down on the threat of a recession coming up. $87 a barrel there and bitcoin a lot of action and cryptos today, this binance and ftx creating instability in the crypto market. down to $17,600. now this. heavily democrat miami dade county and desantis led the republican party to victory in every statewide race.
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with a win like this, ron desantis is now considered presidential material. he's surely the de facto leader of the republican party. look at the front page of today's new york post. young gop star runs to victory in florida, de future. low taxes, school choice, and the end of wokism. that's an attractive platform almost anywhere in the country. the other side of the republican party and trump re-acceptabilities desantis being in the -- resents desantis being in the spotlight and claims he won on the back of trump's endorsement and doesn't want him to run for the presidency or challenge his own run and he deployed a personal threat and said if he did run, that's desantis and i'll tell you things that won't be very flattering. that's a smear. if there is a trump desantis
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contest, it will be between forward looking landslide winner and back ward looking former president who cannot accept his loss. florida is the turning point for the republican party. varney is just getting started. liz peek joins me right now. is sedan tis is the -- is desantis the leader of the republican party? >> i have a piece out saying exactly that. donald trump is the future of the party? why? as you say ron desantis is the winner. he didn't just win florida, he completely wiped away democrat opposition in florida. it was incredible win. not only statewide but in miami dade county, which i got to check on this, seven points for
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bidding 2020 and palm beach county and 13 points biden win in 2020 and basically desantis won both of the counties very well. i love the headline in the post that you mentioned because young is the operative word. i think both parties are looking for transition to the next generation. in the republican party, i think desantis is the de facto leader and he has a great message and appeals to the trump base and by the way, trump is going after him and is he going to want to scorch his reputation and lose standings amongst people believing in his policies and believe his moment has passed. stu: let's deal with trump because democrats john fetterman, you've seen this, quite a shock and he defeated dr. oz in the pennsylvania senate race and flipped the state seat from red to blue. now oz was vigorously supported by donald trump. can we conclude that the republicans have a trump problem? >> yeah, and trump helped defeat
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the other candidate in that race who was a businessman that many people thought had a better chance of beating fetterman. i can't believe anyone voted for fetter man, but they did and that's a problem. interestingly some of trump's candidates did win, jd vance in ohio but i would contend the very popular mike dewine, the governor that won easily helped him get ahead and helped jd vance win. in georgia, you also have a very popular governor, governor kemp who i think very much helped herschel walker stay in that race and basically end up presumably going to a runoff on december 6. i think trump does have a problem. someone said to me earlier today, he can't share his popularity. i mean, he had a tremendous personal brand. i think he's destroying that brand every time he attacks another republican and every time he continues to complain about the 2020 election, he's destroying his brand and he can't share what made him so
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successful. by the way, one other thing, i don't know if you saw the clip on twitter recently of desantis at a -- being introduced by a country western star for a rally and -- in a big stadium and sounded very much to me like what went on in 2016 when donald trump was a candidate. it was -- it was just unbelievable excitement in the room and that's why desantis is now. stu: it's going to be a show down. >> i feel it'll be very bad for the republican party and desantis. i wish donald trump would sort of read the tea leaves and decide to become the grand master of the party. someone with $100 million left because he didn't spend it and that's the other thing. he didn't help at all, and he needed to help in the races because all these guys were wildly outraised money wise by their democrat opponents. stu: are you saying trump, go away? >> i would love to see trump go away. look, he did a lot for the country and a lot for the republican party, but if he
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connells down the path he's on, he's going to undo all of that. stu: liz peek, always good. thank you for having me. we could signal a presidential run. lauren: desantis won by 1.5 million votes and no small feat and took miami dade by 11 points and liz was talking about this and he ran for governor and credits the common sense decision making. >> we saw freedom in our very way of life and so many other jurisdictions in this country wither on the vine, florida held the line. we chose facts over fear. we chose education over indoctrination. we chose law and order over rioting and disorder. florida was a refuge of sanity
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when the world went mad. we stood as a citadel of freedom for people across this country and indeed across the world. >> we translate the person nationally and has $90 million in the war chest. stu: kathy hochul is the first female governor in new york. lee zeldin has not c conceded. lauren: she's ahead by about 300,000 votes. he ran a great campaign and his name propelled four other republicans in blue new york to victory. george santos, mark polinaro and george santos and mike. this was a big one and five term incumbent and the guy that dealt with inflation by eating chef
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boyardee. thank you, lee zeldin, for helping change new york a little bit. stu: the fetterman win was a bigger shock that the the hochul win. they were both shocks, one bigger than the other. we better get back to the markets because the day after the election and the market is down but not as much as a few minutes ago. david is joining me now. you're predicting a big bull run next year. did last night's results change your outlook on that? >> good morning, stuart. last night's outcome was not the big red wave that we were all "expecting" so i've been clear about this all year and we were expecting a bull bounce going into the midterm election. i think that we've got a tale of two different economies here going forward and looks like the house will go republican and if that's the case, maybe this
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lasts for awhile but we're not going to have the same control as if both the house and the senate would both come together and i believe this is an all hands on deck moment in history and so if you only have just the house, you're kind of going into the fight of your life with one arm tied behind your back so i don't believe that our current financial climate changed over the last 24 hours. we saw this nice run up and we think it's cooling off and seeing lower lows here heading into the new year and ultimately that we're in the middle of a recession right now that'll become global and those are some very, very, very big considerations as we look at the next few days. stu: let's deal with inflation and woe have the consumer price index report coming out at 8:30 index time.
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is that a problem for the markets? >> i believe that inflation is a challenge now and it could be that it comes in a bit cooler than 8.2 than what my personal opinion is and the ups and downs with inflation and jerome powell has been doing things and we've seen a number of parts of our economy kind of cool off and i guess a little bit right size and my opinion is the short time frame and a long way from what powell's goals are and if the market runs, stuart, we know that powell will have to raise even more. we're sitting here today in a housing crisis and the air coming out of that bubble and we have an energy crisis and looking at deficit ceiling coming in january today and we talk about cpi, no way are we
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out of the woods when incomes don't keep up with it. stu: david, thanks for joining us this morning. always appreciate it. we'll see you again soon. >> thank you. stu: upstart. not sure what they do. lauren: online lender. right, bigger loss in the past quarter. piper sandler says they're too much to own and lending volume as rates go up and the rival affirm. stu: affirm is a rival. lauren: 17%, same thing. weak forecast and they're blaming peloton because it's selling fewer bikes and treadmills and a lot of people purchase the expin sieve devices with buy now and pay later with affirm. stu: citi. lauren: bloomburg is reporting they're cutting bankerring operations because of plunging refuge and down a quarter of a
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percent and meta is up because of the cost cutting. cutting and layoffs. that portrays there could be more not just tech but corporate america cutting jobs. stu: that's right. meta will get rid of what, 11,000, 13,000? lauren: 13% of the work force. stu: they think it could split over into corporate world. thanks, lauren. fox news voter analysis is top of mind and top of mind for vovoters yesterday. we'll tell you the most important issues and how they affected the races. msnbc rachel climbs far right are intimidating democrats. let's roll it. >> arizona is an open carry state and a lot of far right in arizona has been willing to use open carry privilege as a form of political intimidation. stu: political intimidation. arizona congresswoman andy biggs
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reacts to that. election officials say they won't have all the votes counted until friday. kelly o'grady has the full story, next. ♪
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symptoms develop or worsen. serious allergic reaction may occur. best move i've ever made. ask your dermatologist stu: we're playing that because we're hoping to get results on the arizona races before friday.
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officials in maricopa county, that's in the phoenix area, they say roughly 20% of the polling sites experienced issues with voting machines during yesterday's vote. well, kelly o'grady is there in maricopa county in the phoenix area. what was the issue with the voting machines? >> reporter: par shaly it is delaying -- p partially it is delaying and getting 99 to 95% of the votes by friday and this is delaying the votes because the gop candidate encouraged their base to vote on election day and delaying counting those and for some context, machines were down yesterday for a period, election officials tell us that snafu with a printer fixed by 1:00 p.m. and rnc losing a last minute suit against the counties to keep polls open an extra three hours
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and i listened to the hearing and the judge didn't feel there was enough evidence to impact voting and over 60% of electorate resides in maricopa county and a lot of ballots are outstanding in areas that skew republicans and that tightening in the race overnight could continue. check on the senate quickly, 66% reporting and important to note that spread. kelly started 18 points ahead and masters already made up 13% still roughly 90,000 votes behind and biden won by 45,000 votes in 2020. on the governor's side, a lot tighter. kari lake inching closer and about 12,000 votes behind and hobbs started the night at 14% higher and that's narrowed to less than a point. i want to highlight the reason that lake has been win ago lot of the batches that are coming out by 70 to 80%. the tabulating happens here in the building behind me at maricopa county and expecting an update at mid-morning on the ballots remaining. stuart, this could change very
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quickly. stu: very much indeed. stick to it. republican from arizona joins us now. how come south side is performing so badly in the vote counting when florida counted a landslide by 9:30 last night. what's wrong with your state? >> well, great question, stuart. drives us crazy but under desantis, florida changed their election laws and they have tighter controls. look, we had an election yesterday with a record number of people showing up at the polls and 27% of the precincts you couldn't vote really for eight hours. we were just out, eight hours of disruption and so normally we end up voting or counting till friday. that's pretty par for the course. it's not acceptable but that's what happens and what's going th
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today and, stuart, the day of counting. it might go into tomorrow and then they'll open up provisional ballots and they'll have a ton of provisional ballots because you had people just dropping in what they're calling box three where they couldn't -- they weren't -- the machines weren't reading their ballots and had to put them in a box. you're going to have a lot of those going and those are all data voters and the break will be for republican candidates throughout the state. stu: okay, we'll wait for the results. we have to wait, there's no choice i guess. three races on the texas border, which republicans thought they might win were won all throe by the democrats. the border didn't seem to be an issue. why wasn't the border an issue in a border state? >> the only thing i can figure there, that disconnect that i never understand is sometimes people disconnect their own party's causing the problem with the actual problems so that's
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all i can see is their party is acting in their own interest and involved in the races. stu: elsewhere looks like battle for leader of the republican party is between ron desantis and donald trump. who are you in favor of? whose side are you on? >> i've got friends on both sides and stand with my friends, stuart. no, here's the thing, donald trump is in the leader of the party today and built the america first movement and he's the guy expected to run in 2024 and i think he'll win the nomination. stu: important and famous guy but i've got to interrupt you on this one. donald trump threatened to
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reveal i can't believe the republican party wants someone who says something like that leading us again or even running for election. maybe i'm an extreme on this. i don't think you should be making those kind of comments in an election. i don't think so. >> yeah, you know, stuart, i wish that i had control of over how everybody expressed themselves and in fact i wish i could control myself better with how i expressed myself. but the reality is donald trump still remains the leader of the republican party whether you like what he -- the way he -- i guess the way he says things or not. he still is, stuart. stuart. stu: i'm sorry, andy, i'm
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disagreeing with you. after last night's landslide win, desantis, young guy, family man and how he can still say trump is the leader of the party. i'm not buying it. last 30 seconds to you. >> thank you. look, i like ron desantis and i know he's done an incredible job. i just think until the voters, the republican voters have a chance and i think it's still donald trump's party to lose. to win or lose. and i'm not sure that ron is going to want to walk away from that in 2024 when he just won by a landslide and i think he probably has some meat on the bones to finish in florida and running in 2028. stu: we shall agree to disagree and come back on the show. thank you very much, sir. republicans are likely to take the house and control of the
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house but i'll ask charles payne because he's on the show. oregoner brian kemp won in georgia and fending off stacey abrams again and senate race between raphael warnock and her herschel walker too close to call. we're back after this. ♪
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stu: disappointment there was no red wave and the reason for the down market today. lauren has more. explain disney. lauren: the worse loss in more than two years and flag ship disney+ streaming service, yes, it added 12 million new accounts but came at a cost and that division lost about $1.5 billion in the quarter and investors don't like that and some other streaming stocks down as a result. stu: what's up with roblox? lauren: yeah, 13% down to the downside and revenue bigger than expected and i think of roblox as a game for kids but they're growing the most in the
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17-24-year-old age group. that was interesting because that's the age that's supposed to be working contraindication for cerumen removal right? work; right? kroger says ever core upgraded them to buy and says they're going up 18% more in share price and the reason is not good because food inflation is still a problem and folks are going to continue to trade down from going to the restaurant than cooking at home. we'll figure out how bad cooking at home really .s stu: governor brian kemp, georgia, won the reelection and however the senate race between raphael warnock and herschel walker is too close to call. what's the latest, connell? >> it's a much better night as numbers come in and we take a closer look at one over the
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other. brian kemp winning reelection in the governor's race and far outperformed about every metric herschel walker. we've had a chance to talk about voters the last few days in the state and we usually tell you that they like his record on the economy. sometimes they'll say they like the way he handled the pandemic and with the support from those and the governor able to stick around for four more years. >> this was a pocketbook election in georgia and it was inflation. and jobs in the economy and number one state and investment and job growth and that's been going on all over the state. >> let's do a compare and contrast of the numbers and look at camp win over stacey abrams and well over 50% of the vet and
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well over 2 million voters and flip it over and go to the senate race, it's a much different story. same state but a different candidate on the republican side and herschel walker's numbers fell short of kemp. he trails senator warnock this morning. i can tell you i was talking to a kemp voter yesterday, which was interesting and he told me after voting for kemp, he didn't vote at all in the senate race and left it blank. that's where you are and there's some ticket splitters in the two races and we'll know more about that as at analysis is done. with neither warnock nor walker above 50%, it looks like it's deja vu all over again, stuart, heading for another runoff here in the state. stu: who was it that says that's deja vu all over again? who? connell, we'll see you again soon. look who's here sitting next to me no less, charles payne, the man.
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why no red wave? >> maybe there was never going to be a red wave. stu: i thought there was. lauren thought there was. everybody else thought there was. charles: i will tell you, there were a few times i heard in the media, the liberal media talk about it and reminded me of a jobs report when it was supposed to be extremely negative and came out a little better than expected. i felt like to a degree we were being set up. i was hopeful and there was a lot of hopefulness out there. the first is pennsylvania. oz never got over his start. he started out so poorly. you know, the house in new jersey, i don't know if he called some fruit some exotic name no one heard of. lauren: crudite platter. charles: right, someone in pennsylvania is going to vote for that; right? he ran a good campaign after that. he learned on the job but it was again too little too late. stu: wait a second, he got a firm endorsement of donald trump. that may have hurt him. the republican party on this day
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may have a trump problem. what do you say? charles: in some places. i'm not sure. i'm not sure if they have a trump problem. some of the trump people, listen, jd vance had trump. stu: he won. charles: a lot of people had trump. i think it was more the candidate himself. i really think it was just sort of oz came in as a very wealthy interloper into a blue collar kind of state and i don't think he was able to overcome it in time. stu: lauren wants to pressure you. lauren: going beyond pennsylvania, poll after poll no matter the source were dissatisfied with the state of the economy and the country. why didn't that show up in a bigger way yesterday when we went to vote? there's a huge disconnect between how we feel and how we're voting? charles: well, it's one thing to say i don't like the way the economy is going but most people are working. inflation is killing us but we are working. i think that made a big difference for a lot of people. maybe it could be turned around.
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i do have a job. you know, first and foremost do i have a job? check. if you don't have a job and there's run away inflation, that's two xs instead of one check at the top of the list and that mitigated the inflation. charles: it helps the market and i'm hoping to get blocks on the draconian measures against crude oil. if you stop the anti-oil agenda, maybe that helps the inflation issue, which means it helps the fed back off a little bit. it's a little bit of connecting the dots there. let me tell you who i think with one clear winner. the clear winner was desantis. the clear loser was disney and woke politics. think about that for a moment. think about how much desantis won by yesterday and how many disney stock is down by today? i think that's the ultimate
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message here is all -- everyone in government but particularly republicans should be looking at because on a statewide level, they won miami, they won in places where a republican has never even dreamed about winning and that played a big role. stu: desantis versus trump for leadership of the republican party. who are you going with, charles? i'm asking everybody. who you got? charles: i hate to see it come down to that. i really do. stu: that's not anti-seek stories. charles: i'm giving you another nonanswer. i'm a registered independent but i think this is desantis' party and i believe trump could play a great role if he'd play a great role and not try to mess things up. stu: dream on, charles. charles: i know. i know. stu: i want to tell everyone you're speaking with small business owners this afternoon about labor challenges. charles: we have young folks in here just sort of post election
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focus group and the struggles that you guys are talking about, here, are real. they're real. they don't necessarily manifest in the election but not manifesting and they'll get worse and we want to hear from people because there's a lot of anxiety still in the country. stu: ask him about trump for me would you? i want to see how they feel. charles, you're already. charles: we'll do a poll. stu: chunk. lauren is back. looking at the election breakdown, what was the single most important factor for voters lauren: fox voter news anallal sis says inflation. 51% said that. 42% said inflation is important but not the most important factor. flip the screen, 54% blame president biden's policies for high prices and as a result 81% of them voted republican but look at what happened as we're talking about and trying to figure out what exactly hap happened, maybe we don't vote the way we feel or is this a
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wake up call? this election could be a wake up call. stop the spending in washington. fix the economy, and maybe move past. stu: this is wishful thinking. charles: we see that all the time. someone comes up in a parking lot with a clipboard and survey, you go in the store and spend all your money. i'm afraid inflation is killing me, i may lose my job, i'm going in this store and spending my last dollar. buying this $7 avocado. charles: we do that a lot of americans say one and do another. stu: governor abbott beating out beto o'rourke but surprising victories in some of the texas house races. we'll take you through real surprises. astonishment in pennsylvania after fetterman beat oz there and what gave fetterman the edge? jeff flock breaks it down from the keystone state next. ♪
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stu: john fetterman beat dr. oz in pennsylvania for the senate seat. what was the big issue for voters there, jeff? >> reporter: well, make no mistake, stuart, the issue was the economy and everybody just assume that had if the issue was the economy, the democrat loses and the republican wins. well, i don't know. here's what pennsylvania viewers thought. if you take a look at oz -- first fetterman last night, do you want a guy if you're a poor working class guy, do you want the guy who's in a pair of jeans and a hoody and has tattoos on his arms as your spokesman in
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washington or do you want an ivy league educated doctor who made a lot of money on tv with a tv show that some people said push add lot of questionable cures? which of them do you want representing you? well, voters in pennsylvania last night made their choice. here's what fetterman had to say about it. >> for every job lost and every factory closed, for every person that works hard but never got -- ever can get ahead, i'm proud of what we ran on. standing up for corporate greed, making more things here in america and here in pennsylvania. >> reporter: you can tell, maybe, stuart, listening to him, still the effects of the stroke are present but when we with the voter analysis folks at fox asked voters if that was an issue for them, the majority said he was healthy enough to serve despite the stroke and the
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achilles heel for oz was that most voters, again issue the voter amall sis numbers show -- analysis numbers were concerned he just moved into pennsylvania and at the time didn't own a house and was living in the house owned by his parent's -- his wife's parents and then there was an enthusiasm gap in terms of fetterman, about half of the voters thought they were enthusiastic about him and when it came to oz, not so much so. about 40% of the voters enthusiastic. it was more about the candidates than it was about the economy. stu: well, it was the shock of the night, jeff. you explained it well. thanks very much indeed. we're back to you later. thank you. lauren is back, do you have anything on the texas governor's race? lauren: yeah, grab abbott gets his third term and he vows to keep texas the reddest state and securing the border by sending
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13,000 migrants to the senate. beto spend 1,175 of the 2,048 days of his life running for office. he's 58 years old and he ran for senate and lost. president and lost, governor and lost and they call him an emblem of unrealized ambition. stu: nicely put. lauren: a rich one at that. stu: indeed. surprising victories in the texas house races. lauren: there were three republican latinos running in south texas on the border. monica dela cruz and defeated the democrat there, michelle valejo and dela cruz is the first republican to win and represent district 15. she ran on completing the wall, ending catch and release. look at mayra flores, she lost her rate and it district 34 was
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redrawn and a lot of senate in there and i'm quoting the red wave did not happen because republicans and independents stayed home. don't complain about the results if you did not do your part. district 28 democrat h henry getting tenth term and defeating cassie garcia. he's a moderate and a sentries. stu: on the correct side of the argument on the border. the border was an issue and it was a winning issue in that one. all right, next one, we have democrat senator patty murrey defeating tiffany smiley in the seat and more opportunistic that race for us. ♪
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is with me now. what happened, jason? >> a lot think that and what happen second-degree not enough people vehicle code. voted. it's 43-57 and we have over 647,000 votes we haven't counted yet and yesterday was the deadline to put it in the mail and some haven't even come in and we expect it to tighten and it'll be difficult to catch up but in large part, voters didn't show up and we're looking at some of the red counties in the state and it was a significantly lower turnout than expected and same time, even king county where seattle was located was way too low. some of the positives in yesterday's race is that we expect in washington's eighth congressional district matt matt larkin, we expect that race to tighten and we believe he'll win
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by a couple of points based on where the numbers are and still haven't been counted in his counties and then of course joe kent in washington's third congressional district and he's going to overcome the democrat as well. that wouldn't be a pick up for repubrepuw up in numbers? >> there's a beef and it's mostly true in washington state is irredeemably blue and no what ther what they do, they'll not be able to win statewide races and they give up. there's people that don't trust mail in voting and as much as i try to push back against that and say why don't you at least vote so if there's any cheating going on, you can't make it so easy but not showing up and they're just not moving on it. it is incredibly frustrating the amount of people who just simply do not trust mail in voting
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here. they're ceding so much power to democrats and activists who do show up and vote. i think that's a huge problem that the washington republicans here have to address. stu: what do washington republicans think of governor desantis in florida? he had a landslide victory. that's a clear victory. what are washington folks saying about that? >> he absolutely did and the issue with washington republicans, you've got a mix of folks who are hard core trump fans and part of the reason why they hold that view is they see washington state as irredeemably blue and only thing that can try to break that is someone who is in fact a valentine's disrupter and that's who donald trump is for better and worse. i've been listening to a lot of conversations and i agree with you and ron desantis is the future of the party based on the results last night. now, not all the results have come in but they're pretty clearly a huge winner and i think donald trump realizes that
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and that's why he's been going on the offense against him. just in the last week or so. it's a bad strategy and strategy we can expect from him. stu: i think you're absolutely right. jason rantz, thank you for being here and see you soon. the markets have been open for 90 minutes and down 300 on the dow and 15 on the nasdaq -- 1255 on the nasdaq. there's been comments investors are disappointed there's no big red wave. binance strioing to get together and a bailout of ftx and bitcoin down to 17,100, lowest level in two years. still ahead, the mayor of miami, francis suarez, sandra smith and sean duffy much the republicans are close to taking the house, four senate races too close to call so control of the senate is not yet fixed. that's the state of play.
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and there's this, president biden was not sh laked and may feel strong enough to take the presidency for a second race. that's next. ♪
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>> ron desantis is the binner. he didn't just win florida, he completely wiped away democrat


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