Rate of growth is slowing. Now, this hour, im going to ask the president s top economic adviser, larry kudlow, two questions. Are we going into recession in the next 12 months and secondly, what reverses this slowdown . Larry kudlow coming up on this show this hour. Heres the market reaction. Not bad. The dow industrials going to be on the upside to the tune of about 50, 60 points but its early going. You never know how we will close. The s p up about six. Look at the nasdaq, thats going to be up about. 33 . Nice gain. Interest rates virtually unchanged. The yield on the tenyear treasury, 1. 54 . By the way, a rate cut by the fed this month considered a probability. Another cut in december considered a strong possibility. All right. Time to take a look at the latest attack on facebook. Roll tape. What we need is a president with the courage to enforce the antitrust laws. Break them up. And yes, Mark Zuckerberg, im looking at you. Stuart all right. There you have it. Elizabeth warren, now the frontrunner for the democrat nomination and the call, by the way, to break up facebook has come from some republicans as well. The stock actually at 179, so no reaction on the stock market to that point. Hold on a second. Theres a lot more for you. Weve got news on apple thats helping its stock. News on bernie and when he returns to campaigning. And news on those resort fees added to your hotel which you do not like. Varney company is about to begin. Stuart perhaps it was inevitable. Here is the president ial tweet. Quoting now, breaking news, Unemployment Rate at 3. 5 , drops to a 50year low. Wow, america. Lets impeach your president even though he did nothing wrong. Thats the president ial tweet of the morning. I want to get to the stock of the day. There are reports that apple is increasing iphone production, and the stock is up five bucks. Thats premarket. What does this tell us about apple as a Hardware Company . Susan it means its still a strong Hardware Company because according to the nikkei news, they are going to bump up apple iphone production by as much as 10 . Thats around seven to eight million more iphones. Know why . Because demand is pretty strong so far. You have preorders pretty good, you had actual buying is up on the iphone 11. Thats because they dropped the base model by 50. That had a great impact. Also the new camera system as well. They were expected to sell around 75 million of these new iphones in the back half of this year. That number could go up. Thats a positive for apples stock. Stuart it wasnt expected, was it . An increase in iphone 11 production . I didnt see that coming. Susan not a lot of people did. Hence the reaction youre seeing in the stock later today. Thats a very good thing. Remember they warned they wouldnt sell as many iphones in china . Not the case a year later. Stuart apple up five bucks premarket. That adds about 20 points to the dow industrials which show a gain at the opening bell of roughly 60 points. All right. Lets get to that jobs report. Come in, paul conway, former Labor Department chief of staff. Paul, you always look for the bright spots in any jobs report. Okay. Give me the number one bright spot you see today. I think one of the bright spots right off the bat is you have the numbers being readjusted, the summer numbers, upward which is a good sign. I think it shows the economy is strong. And ideally we would like these reports to be where they were tracking last year, over 200,000 jobs a month, but i think that given whats going on in the economy and some of the issues were facing, like tariffs with china, and that being an unsettled issue, i think the indications in the economy are strong and that for the things that the president committed to do, which is reassert american exceptionalism, rebuild the economy, put people back to work and protect america from terror, hes delivering. The point has to be today, though, you got to keep talking about this message and encouraging people that the economy is a positive thing. Stuart he is, i mean, the president has already tweeted about the 3. 5 Unemployment Rate. You didnt mention that. Thats a 50year low for the unemployment i call that a bright spot, paul. Actually, i just assumed that was the sunshine in the room aside from you. Stuart what is it, i mean, youve got seven million jobs going begging. Seven million job openings. And youve got less than that, less than that number of people available to fill those jobs. Is that why the Unemployment Rate goes all the way down . I think it is. Look, one of the things that you have is what they call streetready work force, okay, folks that already have the skills that can come in. A lot of them have already been absorbed, i would say most of them have, so i think there are a couple dynamics in there. One of them is finding workers and then also, the practice of getting workers trained for the positions that you have that are open and getting them aligned to the opportunities that are there. But i think really, look, its an unbelievable number for unemployment. Thats great. The wages are up and the ability of the economy to keep producing i think is quite strong but i make this akin to this. You have a great car with a fast engine in it and youre stuck in commuter traffic. Sometimes you got to take it out on the road and blow the carbon out of the engine. I think some of these issues that are out there like china and other things are kind of fouling up the works a bit and i think for employers, and also for those who want to continue to perform in the economy, they need to see some more positive signals and hear more positive messaging coming out of washington about this. Stuart okay. Paul, thanks for joining us. Im going to move on and deal with your money in light of this jobs report. John layfield is with us this morning, market watcher himself. John, you think america and americas stock market and americas economy, are we the only game in town or certainly the best game in town now . I dont think theres any doubt about it. I think the u. S. Economy is definitely slowing, we are in a manufacturing recession, but you look at this unemployment number, you look at employment overall in america, especially with the jobs openings compared to jobs that are available, america is on sound footing right here. The rest of the world is in absolute freefall. Look whats going on in germany to compare it to this, the german manufacturing, germany looks like they are headed for recession. Europe is in a lot of trouble. We dont know how brexit will play out. The china trade war, iran problem in if strait of hormuz. I think u. S. By far is the only place to put your money right now, especially when you add to that that what happened in 2013, 2014, with u. S. Dividend stocks becoming de facto bonds, i think we will see that again with the tenyear around 1. 5 . Stuart will it make any difference if the Federal Reserve lowers rates this month and again in december . I think you are starting to see that now with the market because of this number that theres a good chance the Federal Reserve will lower rates. We are already at 1. 5 on the ten year so we wont see a huge jump going with the fed lowering rates. It certainly helps the economy but i dont think thats a complete game changer. The game changer to me is that america is doing well and the rest of the world is not. Stuart got it. John, come back at 9 30 for the opening of the market. See you then. Thanks very much. Im going to show you live pictures coming to us from hong kong. Yeah, that is live, unedited, coming right at us here. Live pictures. City executive carrie lam has invoked emergency powers. One of those powers is shes banning face masks during protests. Susan, maybe im going a bit too far here but this looks to me like a last resort before they bring in the troops. Susan it might be a little early to say that, but as you see, this emergency law is the first time its been used in 52 years in hong kong. As you see, its not quelling the violence. Its probably inciting more protests right now. This law enacted means that they can censor the media, shut down ports, airports, if necessary, and also impose curfews as well. But the first order under this emergency law is the fact that the protesters cant wear masks anymore. If they do, they face up to one year in jail and they say if you demask the protesters, that means, a, you find out who they are, figure out their identities, but also remove their power because when you are no longer unknown, i guess maybe it tempers the defiance. Stuart im hardpressed to call that, what you are seeing now, a protest. Looks to me like pure vandalism. They are looting that store. Susan carrie lam says this is an emergency law but we are not in a state of emergency so why invoke this law. Also, by the way, this opens the door for her to invite chinas help, which some say might open the door for tanks to roll in. Stuart vicious stuff right there. Susan, thanks very much. Obviously we will keep an eye on this as we go through the show today. Lets move to the corporate front. Ive got hp, they used to call it hewlettpackard. I think the official name is hp, planning to eliminate 9,000 jobs in the next three years. That will cut 1 billion out of their expenses and costs. Now, usually when a company does that, the stock goes up but not this time. Hp, down 6. 5 . I guess thats a problem there for all tech. Costco, ive got to call them one of the great retailing Success Stories of all time, online sales going through the roof. Now, the stock is down because of some profit that the profit took a tax hit. Ashley they also missed on revenue and comp sales numbers, but their online numbers were up 22 which is impressive. The comp sales by the way were up 5 . All the big retailers having to cut costs to try to defend their market share. Thats a big part of the story as well. By the way, in this quarter, they sold a 200,000 diamond ring. Stuart at costco . Ashley which makes me ask the question, if you are going to spend that kind of money whatever. Maybe it was worth half a million. Stuart who knows. Great story. Great company, costco. Check futures. We are going up this morning, 50 for the dow, 25 for the nasdaq. Look at that, the nasdaqs important. A third of 1 on the upside. Marc beniof, head of salesforce, says capitalism as we know it is dead. He says corporations cant just be all about making money anymore. No, its about conscious capitalism. We will deal with it somehow. Bernie sanders says he will be onstage for the next democrat debate. Thats some time away. Can the 78yearold really handle the grueling schedule of the campaign trail . Well ask someone who knows. Herman cain. Hes been there. Weve got the top economic guy at the white house, larry kudlow, on the show later this hour. Lot to go at him with. I want to know how do we reverse the slowdown that we are seeing . Varney company just getting started. As soon as the homeowners arrive, well inform them that Liberty Mutual customizes home insurance, so theyll only pay for what they need. Your turn to keep watch, limu. Wake me up if you see anything. [ snoring ] [ loud squawking and siren blaring ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. There are things we would change about work. And there are things we wouldnt. When work is worth it. Work is worth it. Work can be closer to home. Pay more. Make us proud. Careerbuilder. Work can work. Find your work at careerbuilder. Com stuart just getting this coming right at us. The chamber of commerce along with other business groups has filed a brief at the Supreme Court opposing President Trumps effort to rescind protections for dreamers. That just coming at us. Look at disney, please. Its launching its shop in a shop at 25 target stores today. Disney right now at 128. Well below its high of over 140. Lets get back to Elizabeth Warren on the campaign trail, taking direct aim at big business, in particular facebook. Watch this. We need to make some structural change in this economy. Heres the problem weve got. Weve got these giant corporatio corporations with power, lots of power, power over their own workers, power over their customers. What we need is a president with the courage to enforce the antitrust laws, break them up. And yes, Mark Zuckerberg, im looking at you. Stuart i think we need herman cain and fortunately, hes with us. All right, herman, i think that kind of rhetoric is beginning to resonate with voters. I think there is significant jealousy, if you want to put it like that, at billionaires and i dont think thats a very good thing but i think it is resonating. What say you . I think its resonating with the people that are supporting her and other communists. She is preaching pure communism. Stuart no, not quite, herman. Come on. Pull yourself back a bit from the brink there, lad. They have gone past the point where it is in the middle of communism and capitalism and heres the other thing. When she says that shes going to go after big businesses, she is forgetting about the little investors that helped to make those businesses be. She does not care about the little people. She does not care about the small investors. Thats why shes continuing that rhetoric, because some people dont know enough about the history of communism or the history of capitalism to be able to separate the difference. Stuart im a little bit apart from you on that. I dont think shes a communist. I think shes a socialist. I do think there is a difference. I see youre smiling there, so we wont split the hair here on that one. All right. No, we wont. Stuart Bernie Sanders, yes, hes still recovering from heart surgery but his Campaign Says he will be in the democrat debate and that will be one week from next tuesday. Thats quite a ways away. You were on the campaign trail back in 2012. You know how demanding this is. Can a 78yearold following heart surgery handle that kind of grueling schedule . What do you think . I dont know if hes going to be there because of the heart surgery, but i do know that it is a grueling schedule, and for him to say and his staff to say hes definitely going to be there, i think theyre putting the cart before the horse. Its grueling, i know that firsthand, but whether or not hes going to be able to do it, hes going to try to do it, i simply do not know. We will just see and time will tell. Stuart i think Elizabeth Warren is going to be the nominee, because of bernies Health Problems and because of the ukraine scandal which is affecting joe biden. What do you think . I dont like to make those kind of projections because were still a year before they actually select the nominee. Heres where i do agree with you. Elizabeth warren is rising in the polls but i dont put 100 certainty on the polls. She is rising, no doubt about that, but whether she will be the nominee given over a year before they select the nominee, i dont want to make that prediction yet. Stuart okay. We will leave it at that. Thanks for being with us today. Good stuff. See you later. Thank you very much. Back to your money. In light of the jobs report at 8 30 this morning, we are going up at the opening bell. Not a huge rally, maybe 60 up for the dow, 7 for the s p. Look at that nasdaq, nice gain there, 31 points. Thats. 4 . Next case. Joker is out this weekend, expected to make a ton of money. But there is a dark component to this. Why movie theaters are beefing up security and banning customers from wearing costumes. Well be right back. The world is built for you. So why isnt it all about you when it comes to your money . So. Whats on your mind . We are a 97yearold firm built for right now. Edward jones. Its time for investing to feel individual. Imagine a world where nothing gets in the way of doing great work. Where an American Icon uses the latest hr tools to stay true to the family recipe. Where a music studio spends less time on hr and payroll, and more time crafting that perfect sound. Where the nations Biggest Party store can staff up quickly as soon as its time for fun. This is the world of adp. Hr, talent, time, benefits and payroll. Designed for people. Stuart these are live pictures from hong kong. Were staying on top of this. Vandalism and protests continue. Got that. Well follow it for you all morning. The movie joker hitting theaters today. Kind of a cultural event, expected to make a ton of money. Lauren simonetti, look, theres a dark component to this. What is it . Lauren its a cultural bulls eye. Can you market a movie in 2019 about a white man with a Mental Illness who goes on a killing spree . Can you put that in theaters and ignore the fact that this could encourage violence . This could encourage copycat attacks . Thats exactly what joker does. The difference in my opinion between joker and i havent seen it, and the hunt which was ultimately pulled is that there have been at least 20 actors that played joker in the past. This is a dc comic figure. Hes a villain. We accepted that. But it changes in 2019 when you have mass shootings. The colorado shooting back in 2012, that theater obviously is not going to show this. There is increased Police Presence around this city, los angeles, chicago, other cities as well because Law Enforcement is nervous of copycat attacks. In some theaters you cannot come in a joker costume. Stuart i believe we are looking or expecting 150 million at the Box Office Just this weekend. Lauren it could be an october record. Thats why i said this is a cultural bulls eye for at t Warner Brothers with this movie. Some people may say i will wait to stream it at home but others will say i want to go see this movie in a theater. Well know monday. Stuart we certainly will. Thank you very much indeed. Moments away from the opening of the market this friday morning. It follows of course the jobs report, a sharp drop in the Unemployment Rate, and the dow is going to be up about 70. The nasdaq is going to be up pretty close the a half percentage point. Well be back with the opening bell. Announcer fidelity is redefining value with zero account fees for brokerage accounts. And zero minimums to open an account. At fidelity those zeros really add up. Maybe ill win saved by zero this is the family who wanted to connect. To go where they could explore and experience adventure i