tv Varney Company FOX Business November 16, 2022 10:00am-11:00am EST
♪ to your destination ♪ though you may find ♪ stuart: good morning. it is to:00 eastern. i want to go straight to the money, not much price action in the stock market. the dow is up 20, nasdaq down one hundred 20, loss of just over 1%, not a huge loss but some red ink, the earnings report this morning forecasted a week holiday season mother result is target is down 15%. walmart, among the retailers, and the treasury is down to 3.73%, it is hanging out at $16,400 a coin a coin, very few
people are selling, can't get withdrawals as of today, bitcoin 16-four. the latest read on homebuilder sentiment. what is the story? lauren: 33, drop of 5 points, we are at the lowest level since june 2012. stuart: at the very negative reading. lauren: one third of members say business is good. stuart: now this. what a contrast. donald trump and ron desantis, the two leading republicans and clearly competitors, the old guard versus the new generation. it is more than age, more than policy, it is history. trump is the former president twice impeached and under a variety of investigations. desantis is the governor of florida winning in a landslide, governor of a booming state,
that's quite match up. last night trump announced his third presidential campaign. mixed reviews. instead of a half-hour, forward-looking as his aide promised it ran on for more than an hour. he looked back at the midterm didn't ignored the failure of his candidate in winnable states. not a single elected republican officials in the audience. around like the old days of 2016, it was a little more measured and did draw some support. senator lindsey graham tweeted if he continues this tone and delivers this message on a consistent basis he will be hired to beat. desantis has taken the high road, dismissed trump's name calling, call it just noise. when you are leading you take incoming fire, all the time, reminding everybody of his accomplishments and his landslide when. he told his critics to check the scoreboard. desantis has not said whether
he's running in 24 but we are surely seeing the beginnings of the presidential campaign. here's the question. will the 74 million people who voted for trump in 2,020 vote for him in 2024? can he win? he's trying to get his mojo back. desantis is riding his own red wave. second hour of varney getting started. ♪ stuart: liz peak is with us. the old guard versus the new generation. who comes out on top? >> it is up to the voters, primary battles, if desantis throws his hat into the ring as trump did last night they will have it out and voters will decide. to your question, it is diplomatic but also real. voters have to choose who is electable. to me that is the number one
question. second question do you want to elect donald trump who can only run for four years in the white house. that is not long enough to get done what we need to get done in this country. it's not long enough to be important trump policies and do the other things donald trump wanted to do before he was ousted from office but to the question about 74 million voters i feel his support is being chipped away all the time and particularly because that 74 million people turned out before the attack on the capital on january 6th. a lot of us think the left is overstated what went on on january 6th, they made it more a political issue than they needed to with all the hearings in the house which are so biased so a lot of people don't believe that is a big factor but president biden campaigned on that in the midterms, the election deniers and the fact he's talking about democracy
being under attack and there are segments of the voter group, particularly young people who listened to that had worried that january 6th insurrection which in my view was not an insurrection but a protest that went very very wrong. has damaged donald trump's brand and electability. stuart: you've got an op-ed that reads silver lining to the gop midterm shortfall list the bright spots please. >> i think we have a new star in the republican party. a lot of people rallying about and that is ron desantis, we talked about that before but no denying what he did in florida which is history. he made history not only by getting the women's vote but got every vote including puerto ricans which is a left-leaning group generally speaking. he did well in that election and it was because he did well running the state.
he's been a successful governor. that really tease you up. we've seen that before. a good place to be coming from. number 2, it defrocked donald trump. he can talk about how it is not his fault we did so badly in the midterms, no denying the candidates that were chosen by donald trump because of their personal alliance with him and their willingness to talk about the 2020 election being stolen hurt the republican party. we lost a lot of seats, the house and senate, because of that. third, a cynical view, republicans aren't in charge, they will not be in charge for the next two years, recession is coming in 2023. every economist believes that. monetary policy works with the goodyear's lag, rate increases we've seen over the last 6 months, in 2023, we could well be going into the president
shall contest in a recession. that's not going to help president biden or the democrats. you cannot blame the gop for anything that has happened or will happen. neil: stuart: maybe for republicans but not for the country. >> that will get people out to vote for change. they cannot continue to allow. i missed very important silver lining. president biden wants to run again. great news. i think he's a terrible candidate. notwithstanding the midterms. stuart: he turns 80 on sunday. leave it at that. next case, facebook, they will no longer fact check donald trump. following his presidential announcement. is in t band? lauren: he will likely be reinstated in january two years after the capital attacks.
they will not fact check anything trump says posted by others if that makes sense and that is true for all candidates running for office. this is a huge headache trying to figure out how to police the stuff on social media. if you look at facebook in particular, cutting 11,000 jobs, do they have this manpower of fact checkers to do all this? they are not fact checking trump or anything. stuart: censorship before, i'm not happy now. democrats suing georgia. lauren: georgia lost counties, 159 in georgia may not offer early voting on saturday of thanksgiving weekend, that would be november 26th this year. democrats say that's not fair, it disenfranchises voters who like voting on a saturday the secretary of state says democrats are trying to change the law, one is the big runoff,
3 weeks from now, herschel walker and rafael warnock, december 6th. stuart: 3 weeks. just 3 weeks, that is it. better get back to the markets. i'm seeing some red ink for the dow, down 150 on the nasdaq composite. bring in david stravinsky on the markets. you think inflation has peaked and the fed will be less aggressive going forward. maybe we will see a santa claus rally. >> that is right. the market is anticipating the fed pause, you get a pivot looking at 50 basis points, the best days in the market this year as a result of that
anticipating, this could have a rally, the december 14th fed rally is what we are watching but as we look forward we need to understand, when the fed pauses, there's alternately a rally that occurs, this is a selloff, historically what has occurred. we don't think we are out of the woods or that this can last forever. 2023 will be a difficult year and we will go into the midterm for the next presidential election. stuart: tell me the housing market, you've been big on that recently. we have homebuilder sentiment numbers at the top of the 10:00 hour. both negative. is the housing market in thoroughgoing recession? >> this has been a challenge with supply. these builders are acquiring this property to the highest prices or the most expensive workers, they have been doing
time to get products together and consumer can no longer purchase. they are in big trouble in this regard. we need them to do well because we need more homes to be built so we have more supply. this is a challenge. consumers not happy. unemployment going up. the consumers suffer in a big way. stuart: problems in stocks too. see you again soon. every day you have to look at apple, it is down 1.5%. what is the problem? lauren: the situation in china which makes most of the iphones is not looking good. the morning post reporting china has rallied, retired army personnel to work there so they can make more phones and there's research that lockdowns have cost apple $1 billion in revenue per week. try being apple. stuart: no wonder it is down 147.
lauren: also down 3.7%. they predict this 3-month trend of slower purchases as consumers shift. stuart: we talked about target. walmart is up slightly. lauren: it was up one. 5%, walmart was the great juxtaposition to target. i countered 14 brokerages this morning that raised price targets on walmart, the highest was one hundred 75, ubs goes to 170. 75% of grocery share gains at walmart came from those making $100,000 so people with more disposable income are trying to save money or get more value by going to walmart and not going to target. stuart: the governor of texas, greg abbott declared an invasion at the southern
border. how will the white house respond? or missile strike near the border of ukraine kills 2 civilians in poland and we now know where it came from. world leaders gather at the g 20 summit expect poland to invoke article 4 and nato ambassadors are set to hold an emergency meeting. this is all about the missile that killed two people in poland. jack keane will break it down after this. ♪ america's most affordable ev. evs for everyone, everywhere. chevrolet. research shows people remember commercials with nostalgia. so to help you remember that liberty mutual customizes your home insurance, here's one that'll really take you back. it's customized home insurance from liberty mutual!!!
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i have people come up to me all the time and ask me, "does it really work?" and all i have to say is, "here i am. it works." my advice for everyone is to go with golo. it will release your fat and it will release you. first psoriasis, then psoriatic arthritis. even walking was tough. i had to do something. i started cosentyx®. cosentyx can help you move, look, and feel better... by treating the multiple symptoms of psoriatic arthritis. don't use if you're allergic to cosentyx. before starting...get checked for tuberculosis. an increased risk of infections some serious... and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms... or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms... develop or worsen. serious allergic reactions may occur. watch me. stuart: donald trump telling allies the missile strike that
killed two in poland was a ukrainian defense missile. what is the latest from kyiv? >> reporter: we are getting more clarity on what might have been a humongous story. poland and nato saying they believe the missiles struck a site 4 miles from the border from ukraine inside poland killing two was a ukrainian air defense missile and it was unintentional. initial accounts said it was a russian missile attack. moscow has denied it. the russian missiles flying near or over poland, was shot at, the ukrainian missile missed its mark. reports raised the question whether the incident involving nato member poland triggered a bigger response. nato met today, that is not happening. but laid the overall blame with moscow.
>> let me be clear. this is not ukraine's fault. russia bears ultimate responsibility and continues its illegal war against ukraine? >> reporter: one official says even if it was a ukrainian missile, quote, it is the result of us trying to protect our lives. two civilians in ukraine were killed in yesterday's russian missile barrage. of ukrainian a few holes are asking poland for access, to answer a lot of questions they have about the incident. a lot of questions. stuart: thanks very much. i want to bring in general jack keane. are you buying the story that it was a ukrainian missile? seems like trying to calm things down a little bit. >> there's a lot of technology
that can pick up any missile that is fired, we have global radar systems, systems in the area that are classified and as soon as we pick it up we know it's origin. based on its origin, that is how to determine if it didn't come from russia, and its place of origin is likely a ukrainian defense battery. to avoid something like this happening, our air defense systems when fired at a target if it misses the target it self-destruct so it is not going to damage anybody other than the target it was intended to destroy. stuart: poland is expected to invoke nato's article 4. what does article 4 do? >> this is pretty simple, a lot of people talking about the process and missing the point.
article 5 as we talked many times if a country attacks a nato member all countries will respond to that attack and how they respond is up to them. that happened on 9/11. nato countries responded to the attack against the united states from al qaeda in afghanistan. article 4 is a threat to territorial integrity. a threat to political stability. countries try to overthrow see through subversion a nato country or some kind of security violation. it is just a threat. they gathered here because they weren't sure what happened? was this an attack or something else? that is why article 4, the most obvious article for would be if russia had massed troops on a nato member's border as opposed to ukraine but hadn't attacked like they did in march 2021, it
was a threat. nato countries figure out what to do. stuart: we are standing down on that kind of thing. the administration seems split between negotiating for peace now or pressing on to win in ukraine. where do you stand on this? >> this was an issue from the outset. when the administration flips back-and-forth, where we should be is where president zelenskyy is. he's on the offense, the only provincial capital the russia captured in this entire war, which is kherson city, we don't know if he will retake the rest of the territory russia is occupying, but when liberating his territory this is why it means so much, zelenskyy and the people who are in these occupied territories, women who are raped routinely, men are
tortured and killed, hundreds of thousands of ukrainian citizens move to russia with thousands of children, that's why the celebration is so emotional. we should keep the wind at zelenskyy's back, give him what he needs, take the opportunity to take back as much territory as possible and liberate and stop talking about negotiations, shut it down until zelenskyy is ready for negotiations. what drives zelenskyy to negotiations? he gets a point where he can't take territory anymore, doesn't have enough power. the russians have reinforced those territories to the point where his casualties are too high to retake the territory and would likely be willing to negotiate. we are not at the point, pushing toward the point. stuart: general jack keane, thank you very much as always.
greg abbott, governor of texas declared an invasion at the southern border. ashley, what does this change? ashley: it means texas is raising the ante in response to the invasion, governor abbott says the declaration, the us and texas constitutions, this is what it allows for. a number of steps including deployment of the national guard, deployment of the texas department of public safety to arrest and return immigrants to the border who crossed illegally, bill the border wall in multiple counties, deploy gunboats and designate mexican drug cartels as foreign terrorist organizations. according to u.s. customs and border protection, for the 2,022 calendar year agents have had 2.1 million encounters for the fiscal year. it is amazing they saw that many encounters at the border, a new record.
the texas governor announcing a bus of migrants is headed to philadelphia which becomes the fourth drop off city that abbott has used previously, migrants have been sent to washington dc, chicago and new york city come interesting to see what the administration says. stuart: lee zeldin lost the governor's race in new york whatever county moved further into the red. what is his future role in the republican party? former new york resident carol markowitz takes it on next. ♪ ♪
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stuart: republican governors in florida meeting for their annual conference. they are all in florida and meeting for their annual contest. governor ron desantis spoke to reporters about donald trump's criticism. what did he say? >> he said without really addressing trump directly, saying when you are having
success as a leader you are used to taking incoming fire but the governor's comments getting a lot of attention for what he did and did not say. republican governors in orlando to talk about ideas, strategies, but politics always top of mind because there is so much debate where the republican party is headed going forward. ron desantis was the keynote speaker at this event, received a standing ovation and the crowd was excited to hear from him. paul steinhouser reported the people in the room were thrilled to take the desantis playbook to more battleground states. even yesterday before the speech the governor indicated he felt confident in his appeal to republican voters. >> we focused on results and leadership and at the end of the day, i would tell people to check the scoreboard from last tuesday night.
>> reporter: featuring a bunch of high-profile leaders, people who may be looking to launch a possible president shall bid for 2024. one thing we heard over and over is governors are not going to throw their support behind anyone including donald trump at least not yet when it comes to their endorsements. >> i said i have no plans to run for president or to endorse anyone either. >> when the election is over with, we will think about the next one. for me at least, it is too early. >> reporter: one thing i heard from many governors, they want to see different issues as opposed to one personal brand, they believe the issues of tax policy will matter to voters, and i got a feel from a bunch of governors that they know that there's work to do for the party, not just the next few
months but the next few years. stuart: look at this. even though lee zeldin lost the governor's race in new york, every county in the state move towards the republicans, 5 seats were flipped completely. carol markowitz used to be a new york resident but fled to florida during the pandemic. zeldin played a key role in the midterms. what is future role in the republican party? >> i would love to see him have a future role but i think he might be aiming for something more local. the conversation around him becoming supple county executive is pretty common, that is a mayoral position in suffolk county on long island. he did amazing driving the boat comes came so close to unseating governor hochul. i would love to see him be more of a presence on the national stage. from what i'm hearing he will pursue a local opportunity.
stuart: the man belongs on the national stage, that's my personal opinion. what is the reaction in florida to trump's announcement last night? >> many trump supporters and desantis supporters, supporters of both men, the main thing i heard is two years out, i can't start feeling anything about this yet, we just got over the last election, the house of representatives hasn't been called yet. we are not ready to jump into the next presidential race. donald trump is raring to go but people are not in the same place. governor desantis has a day job he has to do, don't know that he's ready to move toward the national stage. stuart: what is your response to the speech itself? a couple expressions this morning like the magic has
gone. >> donald trump as his ups and downs, last night was a down, didn't seem the same high-energy guy we got to know. we didn't hear a lot of forward thinking 2020, past 2020, the last 4 to 8 years, we need to move on and talk about a lot of things that went wrong. i would love to see him take response ability for what went wrong like leaving doctor fauci in his current role. so many things we could have done differently and would have been bigger for trump to take the responsibility and say i will go about this differently and this is how i will do it differently. stuart: that would not be like him. you follow education policy carefully. is this new study masking policies in schools could reduce the effects of structural racism.
can you explain this to me? >> they set out to prove masking in massachusetts had helped prevent covid spread which makes no sense, if you mask today doesn't mean you won't get covid and they failed to do that and to garner attention, time magazine, they inserted this thing about racism, but point being if we reduce covid spread in schools kids will be in school more often, this will benefit black students and brown students more than anyone else. this study is a joke. the new england journal of medicine published this, real concern that woke medicine is so widespread and our health agencies have fallen for all of this. is really pathetic. the main thing i want people to understand is they want to get kids back in masks.
i live in florida, if you live in a restaurant you are being served. stuart: great stuff, see you again soon. the new york post claims catholic schools did not fail during the pandemic but public schools did fail. lauren: the opinion of the author's unions wanted public schools closed and they were but catholic schools stayed open but this is not an opinion, reading scores, a few weeks ago they released 4 to eighth graders scores, catastrophic learning loss at public schools, looking at the damage but catholic schools, math and reading scores were either flat or improved. eighth grade reading scores in catholic school went up by a point since the pandemic, fell 3 points in public schools, catholic schools are proving their worth based on policy. about parents like the
curriculum, not as woke and stayed open. the average. stuart: they stayed open. what more do you need to know? lauren: they operate at a loss. stuart: schools closed. lauren: parents called the school offices, i was one of them, can you stay open during covid? the administrator said we are doing that for a lot of parents. they needed day care for their children which happened to be a great learning environment. stuart: the white house wants emergency covid funds added to the government spending bill, how much do they want? ashley: just a little, $9 billion in emergency public health funding. it would include vaccines and therapeutics, the white house wants lawmakers to include the financing as part of the year end spending bill, funding for
ukraine, disaster relief for hurricane damage. there is no risk of emerging covid sub variants that have potential to cause a surge of infections, hospitalizations and deaths especially as we head into the winter but if congress will approve it, some republicans are more than skeptical questioning how previous billions of covid dollars have been out located. stuart: democrat ties, sam bank when freda making it difficult for lawmakers to regulate crypto companies. hillary vaughan will break down the tainted oversight efforts on capitol hill, tainted next. ♪ ♪
stuart: janet yellen was asked if she will investigate elon musk's twitter purchase. what did she say? ashley: treasury secretary said to her knowledge there is no call to investigate. she said, quote, i'm not sure precisely what the president had in mind but we had no basis to the best of my knowledge to examine his finances. i'm not aware of concerns that cause us to investigate. president biden suggested musk's twitter took over and technical relationships should be scrutinized, the white house just binding to questions whether musk poses a threat to national security and whether the joint acquisition of twitter with foreign governments which include the saudis should be investigated but yellen had to the committee on foreign investment has
repeatedly said she is unaware of any concerns. stuart: thanks. democrats's ties to sam bankman-fried making it typical to relate the coto market. hillary vaughan, what are lawmakers saying about future regulation and colleagues connections? >> reporter: congress needs to act, the sec dropped the ball after reports that the founder, sam bankman-fried gave millions to political action groups. according to open secrets bankman-fried gave millions of dollars to these groups making him the second largest donor of the democratic party, he handed over $37 million to democratic causes and pledged to spend a lot more. he said in an interview he would give one billion in the general election to democrats if donald trump were running
but the money has run out and democrats on capitol hill want answers. sharon brown telling fox they need answers and he thinks ftx should testify to explain the collapse of this crypto empire and also where the money that was spent came from. >> the regulators until the biden administration, invited them in and we've seen the damage they caused. we will aggressively do oversight, they need to be held accountable and explain what they have done. stuart: >> reporter: some are asking democrats if they will get the cashback, dozens of congressional candidates benefited from the crypto founders now tainted cash, most funneled through political action committee called protect our future which received 27 million from the founder, the
daily beast reached out to 25 lawmakers who received money, some said they would give it to charity, others said they would use it to boost democratic candidates and some are not saying anything at all, chairwoman maxine waters, if you think democrats should give the money back. she told me she didn't want to get into it but republicans also got some of this money too. stuart: thank you very much. excuse me. the ceo of crypto.com is trying to downplay ftx contagion fears. what he telling customers? ashley: the ceo trying to reassure users business is fine. on monday he said the company had a tremendous we strong balance sheet and it is business as usual but the revelation the company transferred 80% of its either holdings to another crypto
exchange spooked investors triggering a wave of withdrawals compounded by what happened to ftx but the company says that transfer is a mistake in the ceo tweeting the withdrawal q is down 90% in the last 24 hours, remains business as usual on crypto.com. kudos to our team which bill trillion block chain infrastructure operating normally. crypto.com privately held, based outside the us and singapore offering a range of products. this isn't part of the crypto area. investors are very skittish. let's not forget ftx, we have no clue what is going on until we did. of the one skittish, that's the understatement of the century. skittish? terrified i would say. as we all know, trump announced his third presidential run at mar-a-lago but not us in a republican official was there.
what does lara trump make of that? she's on the show later. an element he school principal in seattle refused to cooperate with the police after a drug addict snuck onto the school grounds. jason jason rantz has the full story. you can hardly believe it. ♪ ♪ i got into debt in college and, no matter how much i paid, it followed me everywhere. so i consolidated it into a low-rate personal loan from sofi. get a personal loan with no fees, low fixed rates, and borrow up to $100k. sofi. get your money right. the first-ever all-electric chevy blazer ev. 0 to 60 in under 4 seconds. and up to 320 miles of range on a full charge. evs for everyone, everywhere. chevrolet.
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and our success stories are real. why not give it a try? stuart: hard to believe this. an element risk or principle in seattle refused to cooperate with police after a drug addict snuck onto the school grounds. better watch this. >> we are being record of the. keep an eye for a second. >> all this place, on my own. thank you. stuart: jason rantz is our seattle guy. the suspect was able to escape the school grounds and assaulted two more victims. start from the beginning. why did the principal do this?
>> reporter: because he doesn't like cops. we've been hearing from officers who said they got resistance from seattle public school staff when called to the scene of a potential crime. the suspect climbed over the fence, got into the school, he ended up assaulting a young girl and stealing the backpack from a student and if you tell from the video the officer who arrived was trying to establish probable cause to actually stop the suspect from fleeing, they are not allowed to stop the suspects without probable cause and instead of saying the students over here, confirm the backpack was stolen and it was his he walks off, then this guy runs away and attacks a dhl driver before getting to a metro bus, cops were able to track him down on that bus, then an officer was injured to the point they think she fractured her arm. the cop goes back to the school to talk to this guy.
telling him by not participating or cooperating you allowed them to go and commit other crimes. stuart: i lost my train of thought. it is outrageous, it is hard to to fathom how you could not let the police into deal with a dangerous person. warning its employees, city officials don't decorate your workspace for the holidays, they don't want to see christmas or hanukkah do core but allowing blm and lgbt q flags, no religious decoration. i don't get it. >> this will make your head explode. these rules apply to your digital workspace and you have
people working remotely and in the background you get a christmas tree that has a religious symbol on it and a menorah in the background you have to get rid of it. they are pretending some people are offended, the imagery, no one is offended, to get some woke points and you are sticking up for religion, the separation of church and state which does not apply in cases like this. stuart: you could always move, you could actually move away from the craziness. have you thought about moving? >> reporter: will report on the craziness if not here? stick around, see you again later. interesting stuff. lara trump, k t mcfarland, byron york. the darkest dictatorships, brave people can stand up and resist. who would have thought we could see people power in iran and china.
there are rumblings of discontent, strong in iran, double upping in china, it is next. ♪ it's all coming back to me ♪ during walmart's black friday deals for days. every monday is a huge deal. get a $25 disney princess doll with kids' dress & accessories... plus other hot deals. join walmart+ and you can shop online 7 hours early!
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