Thats likely to be down about. 33 . Lets see how they close. Lets get to hong kong because today, we see chinas clout. The general manager for the Houston Rockets, basketball team, tweeted support for hong kong. Beijing immediately objected very strongly. The tweet was immediately withdrawn. Lots of criticism for the nba this morning. They caved to the communists, to preserve basketballs appeal in china. Hong kong itself, im going to say its virtually shut down as violent protests returned over the weekend. Next case, what have we got for you . Joe biden. He says he will beat the president like a drum, end quote. The General Motors strike takes a rather ominous turn. And amid very visible security, joker hits the theaters and wins big. Varney company is about to begin. Stuart you know, this could be the stock of the day, maybe the week, maybe the month. General motors, down 1 . Its back to 34 a share. When the strike started, it was 37. Now, talks with United Auto Workers union broke down i think late last night or certainly over the weekend. The reason . Susan because gm wants to increase production in mexico, where it now builds trucks, pickups, small cars and also two suvs. According to a lot of the forecasters, it looks like gm is the largest u. S. Manufacturer in mexico, 833,000 cars are made there last year. About 22 of their production. Thats more than ford, more than other car makers as well. So basically we are in the fourth week of a strike, right, and apparently according to the uaw, they cant get any production commitments from gm saying we will make these cars in the u. S. Instead of mexico. That is one of the big snags right now in this fourweek ongoing strike involving 49,000 workers and costing gm about 80 million a day. Stuart longest strike since 1970. Back then it had a huge impact on the economy because they got 340,000 workers. Today its way down there. Susan also, they have a backlog of 70 days in terms of supply, car supply, that they knew going into this. Stuart that makes a difference. Thanks, susan. Moving to the box office over the weekend, joker. Okay, its not the joker. It is joker. Broke records. The debut of this movie, however, has not been without controversy. Lauren simonetti, one of our producers went to the movies this weekend. Before getting into the door, there was a line of police officers. Before you could walk in. Lauren beefedup security at theaters throughout the country, especially in major cities. Bag checks. There was one theater here in new york where there was someone watching the movie and he kept laughing at all of the murderous scenes so eventually he was escorted out because that made people feel uncomfortable. Despite feeling uncomfortable, we went to see it. Record october debut, 93. 5 million here in the u. S. , 234 million worldwide. What does that tell you . I was reading something from the director. He typically produces comedies. He said i cant do comedy anymore because somebody always gets offended and millions of people blow up on twitter. Its not worth it. He did this instead. This is more controversial than any comedy, if you ask me. Stuart joker was made by Warner Brothers ash brothers, a unit of at t. If theres any stock reaction, look at at t. Fascinating. Ive got to break in for breaking news. President trump reportedly lost a court fight in new york to keep his tax returns secret. Whats that . Ashley hes been ordered to turn over eight years worth of tax returns to the manhattan d. A. , cyrus vance. A federal judge this morning rejected the argument from the Trump Administration, well, President Trump himself, the sitting president s are immune from criminal investigations. The judge disagreed and now has subpoenaed the president to turn over eight years worth of tax returns. Both on the corporate side and on the personal side. Stuart i just wonder if the president can appeal that. Ashley they will appeal. Stuart okay. Hang on, as they say. Ashley it is going to be appealed. Stuart i thought this was an ominous headline from the wall street journal. Dim earnings outlook poses peril for stocks. Dim earnings outlook, peril for stocks . Lets bring in jack hough, hes Senior Editor at barrons. Lets suppose there is no significant increase in profit in the current reporting period over last year. No significant increase. Does that put a cap on the stock market . I dont think so. Im with the dim part of this but not with the ominous part. The quarter is going to be dim. The expectation is for a 4 decline year over year in earnings. You have to remember, you know, its like if you have ever seen the old price is right game show, the showcase showdown, you get the price but you definitely dont want to go over. Thats what analysts do when they guess earnings for companies. You almost always get Companies Beating those expectations. You will see that this quarter. You will probably end up with pretty flat earnings for the Third Quarter. I dont think it matters that much for stocks because investors are forwardlooking and this is the last lousy quarter for earnings. Going forward, expectations get a little bit easier in the Fourth Quarter and much easier next year. Stuart because the Third Quarter comparison with last year, where we were very very strong. Booming earnings. So if you look forward next year, wall street is saying 10 earnings growth, dont count on it. They always guess too high about distant forecasts. I would not be surprised if you see something mid single digits, maybe 5 , 6 earnings growth. That would be good enough to keep the stock market moving. Stuart you said that for a long time. The stock market rally keeps on moving, gradually, slowly, but it will keep going. I think so. I wouldnt expect gangbuster returns from here but still, when i look at the things developing, you can buy stocks, theyre the best bet in town. Stuart we like that as a way to open on monday morning when you have ominous headlines in the background. Thank you, sir. Next case, macys. Ive got a number on macys. They plan to hire 80,000 people for the holidays. I dont know how many they hired last year for the holidays, whether its up or down, i dont know, but 80,000 is a big number. The stock is at almost 15 a share. Hsbc, that is a bank, they plan to cut 10,000 jobs. They are trying to cut costs. The stock is virtually unchanged. To syria. Lets report on that. U. S. Troops have started pulling out ahead of an expected invasion by turkey. This is a reversal ashley complete reversal. Ironically, the u. S. Has been with about 1,000 or so troops in this region have been training and providing weapons to the kurdish fighters, who the turks regard as terrorists. So the u. S. And the Trump Administration has decided to pull out, saying this is now no longer our fight to fight, which clears the way, essentially, for turkey to go straight on in and take on the kurds and also the Syrian Defense forces, who have been friendly to the Trump Administration. Stuart i distinctly remember seeing advertisements by the kurds right after the invasion of iran and the downfall of saddam hussein, in which the kurds were saying were friends, were proud american allies. Ashley they led the fight to get isis, to wipe out isis. They were the spearhead of that. Stuart geopolitics hard to understand. Ashley a big part of this, the administration wants turkey to take hold of the thousands of isis fighters and their families, take control of them. Stuart thats another sidebar issue. Ashley it is. Stuart its involved. Ashley its involved. Stuart back to the market. We are still down about 50 points. Thats the way futures are pointing at the opening bell. The nasdaq will be down about. 33 . Take a look at lyft. Theres a stock thats down roughly 50 since going public. Its Public Offering price earlier this year. Coming up, we have a guy who says that stock, lyft, is going up and you should buy it here. We will let him make his case. House democrats think they have the 217 votes needed to pass articles of impeachment against the president , and the president is daring Speaker Pelosi go ahead, hold the vote. Will the democrats do it . We will answer that question. Joe biden trying to make a comeback, writing an oped saying trump wont destroy me and he wont destroy my family. We will deal with that in a moment. Here comes Varney Company on a monday morning. I wanted more thats why ive got the power of 1 2 3 medicines with trelegy. The only fdaapproved 3in1 copd treatment. Trelegy. The power of 123. Trelegy 123 trelegy. With trelegy and the power of 1 2 3, im breathing better. Trelegy works 3 ways to open airways, keep them open and reduce inflammation for 24 hours of better breathing. Trelegy wont replace a rescue inhaler for sudden breathing problems. Trelegy is not for asthma. Tell your doctor if you have a heart condition or high Blood Pressure before taking it. Do not take trelegy more than prescribed. Trelegy may increase your risk of thrush, pneumonia, and osteoporosis. Call your doctor if worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain occur. Think your copd medicine is doing enough . Maybe you should think again. Ask your doctor about oncedaily trelegy and the power of 1 2 3. Trelegy 123 save at trelegy. Com 2,000 fence posts. 900 acres. 48 bales. All before lunch, which we caught last saturday. We earn our scars. We wear our work ethic. We work until the works done. And when it is, a few hours of shuteye to rest up for tomorrow, the day well finally get something done. stuart all right. Look at this. On your screens, walmart stock, doing nicely this morning. Rokus on the screen as well. Its actually down two bucks. The two companies have Just Announced together a new projector and it connects to the internet, projector . Okay. You can hang it from your ceiling. It projects streamed tv on to your living room wall as well as the roku wireless subwoofer, i dont know what the devil that is. Ashley loud bass. Stuart walmart has this way of getting movies on the wall of your house. Thats what it is. This is coming in coming weeks. What is this, it says sold for 129 each . What . What sold for 129 each . Susan the experience. More people are streaming. Stuart the projector. Susan its the experience, entertainment. Its a consumer story. Ashley deep breath, stu. Stuart theyve got a projector. Walmart sells it. Is it roku that makes it . You can get a movie on your wall. Ashley 129 bucks. Stuart now i understand it. With me, sports fans . Lets move on to amazon. Heres something, i understand this one. They have announced new kindle kids edition and a fire hd10 kids edition. Bottom line here is, amazon is coming out with these new products for kids just in time for the holidays. Amazons stock, in a relatively down market, down six bucks. The headline from joe biden this morning in the Washington Post is this. Trump wont destroy me and he wont destroy my family. Hes doing his best to bounce back with that opinion piece and by the way, new polls do show that hes got a big lead still in South Carolina but his lead in wisconsin has been narrowed and in other states, hes trailing Elizabeth Warren. Fox news contributor Jason Chaffetz with us now. Can he come back from all thats afflicting his candidacy . Good morning, stuart. Hes going to need to start answering questions. The Vice President biden has really in essence been in hiding and where is hunter biden . Hes been at the center of this, really answering no questions. I saw that this was put together in writing in an oped, his defense, but he has not been acting as if somebody who can actually answer these questions stuart jason, i have read the editorial, the oped, as it is, twice. Nowhere is hunter biden mentioned. Nowhere is the conflict of interest, the obvious conflict of interest, mentioned. Its just pound on trump and then he closes it with saying in november 2020, i will beat you, donald trump, like a drum. I dont think that works. I just dont think it works. No, the best thing he had going for him was this approach to his fellow democrats saying im the one that can really take the fight to donald trump, im the one that can beat him, but i think joe biden ends up, you know, a distant sixth place at this point based on the performance that he has. I think conventional wisdom has somebody like Elizabeth Warren, Bernie Sanders having his Health Problem but that socialist end of the party is really got the strength in numbers. Scary for the economy. I think its scary for wall street that one of those two could potentially get the nomination but thats where the left side of the party is going in the democrats. Stuart im surprised to see it but the media this morning is saying Elizabeth Warren scares a lot of democrats. Let me move on, talk about impeachment. The democrats say theyve got the 217 votes that they need to pull the trigger on impeachment. My question is, will they vote on it . Well, the very first thing they need to do is vote to proceed with it. Nancy pelosi can stand up and bloviate that yes, it is a formal impeachment inquiry but it really isnt until they actually have a vote to proceed. They dont want to do that, though, because it gives the minority rights. They dont want to have people like doug collins, the Ranking Member on judiciary or devin nunes in intel, to actually be able to have a fair fight and call a witness. I think most of america recognizes that that fairness and due process is necessary if youre actually going to try to impeach a president but she doesnt want to do that. Stuart i think all this toil and turmoil about impeachment actually covers up the mess inside the democrats president ial campaign. Thats my position. Jason, thanks for being with us on this monday morning. Im glad you agree with me. You can come back next monday as well. Thanks very much. We will see you again real soon. Hong kong protests, they flared up again. Youre looking at live pictures now. Thats hong kong, 9 17 p. M. There. They are 12 hours in front of us. We will monitor whats going on there again. We will bring you any updates as the morning progresses. Now then, look at futures. Still down about 50 on the dow come the opening bell. Remember, we were up 370 on friday. Take a look at General Electric stock, ge. It should be moving today. It plans to cut its pension plan deficit by around 8 billion. We will tell you how they are planning to do that. Premarket the stock is barely moving. Paypals cofounder theater thiel is backing a company that makes drones for the military. Good story behind that one. This is the age of expression. But shouldnt somebody be listening . So. Lets talk. Were built for hearing whats important to you, one to one. Edward jones. Its time for investing to feel individual. The lexus es. Every curve, every innovation, every feeling. A product of mastery. Lease the 2019 es 350 for 379 month for 36 months. Experience amazing at your lexus dealer. I need all the breaks as athat i can get. Or, at liberty butchemel. Cut. Liberty mu. Line . Cut. Liberty mutual customizes your Car Insurance so you only pay for what you need. Cut. Liberty m. Am i allowed to riff . What if i come out of the water . Liberty biberty. Cut. Well dub it. Liberty mutual customizes your Car Insurance so you only pay for what you need. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Stuart the protests are back and so is the scuffling between protesters and the police. Youre watching it right now, live pictures, 9 22 p. M. In hong kong. Its dark. These protests have been going on on a daily basis. Confrontations on a daily basis. We will keep you up to speed on it. Trump supporter peter thiel, hes helping to fund a company that makes military drones. Okay. Now, that company is run by the guy who created the oculus Virtual Reality headset back in his teenaged years. He was with mornings with maria today explaining more about what his company does. Watch this, please. We are able to detect drones over military bases and other Critical Infrastructure and able to send our own counterdrone to go out and knock it out of the sky. Its really important that the u. S. Has this kind of technology. We cant allow the skies over our military bases and our Critical Infrastructure to become the wild west. The same goes for a lot of the bases and Critical Infrastructure of our allies. We need to make sure we can protect our air space from these threats because you are already seeing attacks in saudi arabia and afghanistan, other things that are not necessarily public yet, and this trend is only going to accelerate. Stuart wait a minute. Thats Silicon Valley working with our military. They dont like doing that. But now they do. Susan well, they are doing a very good job of it, because as you heard, they developed the interceptor which basically is a robot that kills drones. You know, the pentagon has been looking at spending years looking for a reliable way to combat consumer drones that have been reconfigured and turned into Reconnaissance Aircraft and bombers. They have been able to do that. This company is valued at 1 billion right now. They raised 120 million over the summer, including from peter thiel but also, one of the famous vc funds, and this company and palmer lucky, by the way, was a teenager when he discovered and came up with oculus and sold it for 2 billion to facebook in 2014. But he is known, some would say he was kicked out of facebook because of his support for President Trump and his donations back then. Ashley cant do that. Stuart i wish him well in his company. Susan