Report in the atlantic that says President Trump called wounded veterans losers we will talk to the Vice President , but lets talk more about the nasdaq with the tech selloff continuing. Some of the big names we follow closely, tesla is down after a 9 drop yesterday and today its down about 2 in premarket activity. The chip maker also about 9 yesterday and it also looks to open down by almost 4 today. That is free market activity as well. Zoom after a big day earlier in the week seeing major prophet taking in the last two days down almost 2 and apple surging on its stock split monday but then down another about 7 yesterday down to about one and a quarter in premarket activity after an 8 drop yesterday. We are less than two months until election day and joe biden is out and about. He made another. Dot this could be why the democrats want him to stay in the basement. We will play that a little later. We may hear from President Trump as he meets with leaders of serbia and kos about later this morning, willing to bet he will have something to say about todays of jobs report which again is better than expected at least on the unemployment numbers and what better way to send you into the threeday Holiday Weekend van with your own comments as its feedback friday, our favorite of the week. Im in force Stuart Varney and the company is about to begin. First things first. The jobs number, 1. 37 million jobs added in august, but the big news is the Unemployment Rate, falling below 9 , thats much better than estimates. Lets bring in market watcher brian. It looks like we are on the mend; no . We really are in the key things, 1. 35 million , but again the Biggest Surprise as you have stated this morning is this dip below 10 , its pretty remarkable especially considering all you hear in the press is that the economy is slowing and you cant get a job. We are adding jobs and thats the tone of what people should take away is that out of every recession and every bear market we transition from despair to hope and hope is a rising and i think that will continue. We have recovered about half the jobs lost as a result of the nationwide lockdown. Is it about on pace or is it better than what was expected by you . Well, from our great Economic Team is about on pace and from consensus in february and march the projections were much more dire and i think when you look at unemployment in particular as you know the longterm watcher of the market is a lagging indicator and also that companies front end load their layoffs, so they layoff everyone aggressively and now they will be slow to add people back, but the pace of the job growth we have an even the summer months august is typically slow and you have to be encouraging about what we saw. You have been very bullish on tech as it has been suffering over the last couple of days. Are you buying on the dip . We continue to own attack across the board and the key thing is we run seven portfolios for our clients and six of them outperform so we are proud to see that. Seems like apple, amazon, microsoft are among the star Core Holdings like bank of america so we are well diversified and we continue to think the start of the second half of the bull market began in march. Brian, what you to stay right there if you can, please. I would like to focus on some of the big Market Movers after thursdays selloff. Lauren, what are you watching . I am trying to be optimistic to show you some green that came from the cruise lines as they wore rose four and 5 yesterday and they are up again this morning. Look at that. A quarter for carnival. They say their italian brand will resell this weekend, but we also saw a rotation out of the popular tech names with the momentum names that got beaten down and my into the travel sector. Want to talk about tesla monday the stock hit a record 490. Its sold off everyday since, down 21 in the past four days, so could tesla be in a bear market . Yes, the price to watch is 39865, one more quickly and that is zoom lets look at how stock is moving out because its up 460 this year with a revenue of 350 . The pandemic set up this Digital Transformation as corporate america, but it is also weighing on corporate americas bottom line in their pocketbooks as we could see job cuts and project delays which could offset some of the tremendous gains these digital stocks have seen think you. Christine is also with us. What do you have for us . Im going to follow laurens lead and talk about tech specifically apple as it has a 2 trilliondollar valuation, that it also hit another record with the largest market drop in history. It lost about 8 yesterday so that means loss of roughly 179 billion equating to 470 companies. 470 companies on the s p 500 as a whole was stock prices a bit down this morning as well. We switch over to chip makers and a lot of the negative movement in that sector as well. Chip maker fell over 9 yesterday. It was unfortunately the worst performer on s p 500 and also Advanced Micro Devices shedding roughly about 6 , but going to end on a bright spot and that is beyond me too, not a tech company i admit i eat their products and shares climbed higher yesterday because of one analyst putting out a report saying he believes the stock will continue to outperform with the price of 160, still 20 higher above where it is now, but we know competition is ramping up from impossible foods which is privately held to tyson food and even nestle. Its coming out with a plant based tuna. My goodness. I prefer their chocolate. We will be back to you, but President Trump two minutes ago tweeted the following about the jobs number great job number, 1. 37 million jobs added in august. Unemployment rate falling to a. 4 . Remember the estimates were 9. 8 . Better than expected. Broke the 10 level faster and deeper than that possible. No doubt we will hear more from the president and reminder, the Vice President will be with us in this hour, so stay tuned for that. We will hear from Vice President mike pence in a moment to talk about the jobs numbers. Christina, thank you. Brian, let me bring you back in. The president does have some bragging rights here, does any . He really does and the other thing you have not mentioned is wages of slightly went up and remember even when we had unemployment well below 4 we did not see Wage Inflation i think the feds signal thats what they are looking for, some sort of inflation, but especially with respect to unemployment. The way jobs have come back even in the face of no new stimulus bill, i think it bodes well against heading into the fall for the president. This is great news for employers specifically. We talk a lot about businesses here on fox business, which we should, but we are concerned about wage earners and for them to get an increase of wages right now is particularly important, particularly since a lot of the Unemployment Benefits are phasing out. Very much so and if you walk around the cities of america, you see a lot of helpwanted signs and we believe those helpwanted signs will be filled especially as we have a new restaurant and Industrial Concepts and also as we crank up employment really in the fourth quarter, especially in september and october, i think the numbers will only get better. I just wish we would see more of a crank up in new york city and other big cities. Not so as of yet. Brian belski, great to see you. Hear some positive news as well with President Trump hinting a vaccine could be delivered next month. You did this while speaking at a rally thursday. Roll tape. Will be delivered before, in my opinion, before the end of the year, but it might even be delivered before the end of october. How do you like that cracks wouldnt that be nice . Not because of the election, but because we want to say that people. Check those vaccine makers on the news. Its kind of a mixed figure for those, but that may change during the course of the day and again this is activity. Check the futures. We are up on the dow jones by about 1501 points in free market, the nasdaq is navigated and coming up this hour Vice President mike pence with his reaction to this mornings jobs report. Joe biden picking an unfortunate choice of words while trying to explain his tax plan. Roll tape. That want to punish anyone, but they should pay their fair share. Not going to lay it out now because they will shoot me. What does tammy bruce have to say about that . I will ask her in the next hour and twitter is once again slapping a warning on President Trump streets with facebook blocking political ads a week before the election. Is that an opportunity for another company . We have the ceo of parlor the social media site priding itself on free speech, chances are they will run ads up and tell and through the election without ceo joining us next, states in. Stay tuned its easy to get lost in the economic uncertainty. The volatility. The ambiguity. The moment calls for more. And Northern Trust delivers more. With specialized expertise. Proven strategies rooted in data and analytics. And insights borne from over 130 years of successfully navigating economic turbulence. Giving you clarity. Inspiring confidence. And helping you uncover new paths forward. Northern trust. Wealth management. Northern trust. So youre a small bor a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Take a quick check on facebook. Its down about a percentage point and we now know they will block new political ads on their site the week before the election. Thats a week when they usually bring a lot of revenue as a result of these political ads particularly so in 2016. Lets bring in john mace, ceo of parlor, a popular new social media site that prides itself on free speech and zero censorship. John, i would think its a great opportunity for you. Theres a lot of political money on social media and it wont have any place to go except parlor the week before the election yeah, thank you for having me. Exactly. The last week before the election and many voters are still undecided there are ads that need to be run because things change so fast, so this is really another form of, in my opinion, election interference of twitter and facebook. They shouldnt. They should remain neutral. Its an unsustainable tactic and thats why we allow political ads and dont discriminate based on time period or how it may or may not influence the election. Lets be honest, another reason is to make money. You are not a charity. Have you quantified or thought about exactly how much money you could make if all those political ads meant for facebook come to you . Yeah, its very nice number if they all came our way and have you added up, john . Forgive me for pressing you on this. Do you have it figured . I havent added it up, but i know as week go closer to the election we have more Space Available to sell for political ads and since we last spoke last time i was on we added about 3 million users and now, we have about 4 million users, thats a big boost to our potential ad revenue as you can see there, huge. I also want your thoughts on another issue involving both twitter and facebook, throwing a warning label on the president s posts particularly on the voting issue suggesting people can vote in person and through the mail or at least thats what thats the way the media defined it. What you think about these warning labels that twitter and facebook put on . I mean, they are ridiculous. How far they going to take it . They have to work hire employees to do this and maintain this. It hurts their brand. Users are fleeing to sites like ours and we actually Just Launched a website to kind of promote the idea that this is wrong and it only took facebook five minutes to mark ours as fake news and ban it from facebook, so you know these people its not really a Sustainable Business model and frankly im its wrong. Who is going to believe facebook over the president or whos going to believe twitter or the president . I mean, its not helping anyone. John, to be clear, you are taking all political ads up to and including the election even if you can sense that there is something in those ads thats not true whether its democrat or republican; correct . Yes. We dont fact check anything because we believe people should determine that on their own. People are smart and can figure it out. Im wondering in the history of politics in america how many promises have been paved before an election that are true by any party. John, parlor ceo, good luck to you. Thank you. Lets put google up on the screen. Lauren, we arent hearing new reports that the doj may file antitrust charges against them. Stocks not not down much today, but it could affect them longterm. In the New York Times they are reporting the charges could come down as soon as this month so this doj investigation began last june, it prompted to areas of googles business, their search dominance and advertising. The time this is most of the attorneys that have been working on the case feel its incomplete and that ag, bill barr, is rushing its. He wants to hand the president a winning issue when americans go to the polls in november and its a bipartisan issue as most americans are critical of big tech dominance, so the allegation is bill barr is trying to get from a winning hand. Nonetheless, they have been working on this since last june. Thank you and staying on big cat big tech, apple is putting out an update that would change the way ads can give you targeted ads on their phone to require they doing this . They are postponing this until 2021. Its a controversial new privacy rule that would force developers to prompt you, so a pop up on your phone asking do you allow this app to track you throughout your phone so for example if you pick up your iphone and google lighter fluid and then maybe you get an advertisement for a new barbecue on instagram or on facebook. So, now apple has said dont worry with the new operating system 14 developers wont have to put this pop up requesting this from users. We will give you time to work it out because we have some Big Companies like facebook that getting great apple is imposing this so quickly so now apple said we will delay this privacy rule until 2021 as part of a bigger push from apple to show that apple iphone are all about privacy even their latest ad that came out yesterday promoting their new foam phone from the fall focuses solely on privacy and it is part of the Bigger Picture with privacy protection. Right now you wont get as many popups, but they are still tracking you. Too many updates. I am fed up with updates on my iphone. I can hear you. Thank you. We will hear more from christina and lauren in a moment and of course we have the Vice President as well. Futures are still basically up. One index is stubbornly down, but it is improving. Of the nasdaq is down, but only about a third of a percentage of. A lot of the turnaround has to do with the jobs numbers as unemployment is down to make a. 4 , still historically high, but a lot better than was expected. We have a lot more coming up. Stay right there. Introducing stocks by the slice from fidelity. Now you can trade stocks and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. Stocks by the slice from fidelity. Im a verizon engineer, and im part of the Team Building the most powerful 5g experience for america. Its 5g ultra wideband, and its already available in parts of select cities. Like los angeles and in new york city. And its rolling out in cities around the country. With massive capacity, its like an eight lane highway compared to a two lane dirt road. 25x faster than todays 4g networks. In fact, its the fastest 5g in the world. From the network more people rely on. This is 5g built right. Only on verizon. When their growing family meant growing expenses, our agents helped make saving on insurance easy usaa. What youre made of, were made for. Usaa another check of the futures as they look up almost all the way through except the nasdaq is stubbornly in the red. Lets bring in mark. The jobs report really turned things around. It hasnt quite yet happened on nasdaq but a lot of folks are going into this market today thinking the jobs report needs to buy in the debt. Are you . Absolutely. Thank you for having me on, david. When we look at whats going on in the market, yesterday not a big deal, i mean, the market has gone up over 50 off its low and sometimes it needs a breather. The way we position ourselves now is that pullbacks are viable so whenever the market is in a strong uptrend and poor that it means positive 50 moving day average of sloping 200 day average, pullbacks are viable so what investors should be doing and what we are doing is identifying best stocks that we really like and may be missed out on an art identifying price where we buy. One of those i understand is stamps, doesnt it rely on the u. S. Postal service and isnt it a bit of a risk right now . I dont think they do any business with the post office anymore, but kind of the old school thought process on stamps. Com. And most people think the same thing as im sitting at my comes computer and i decide to print stamps rather than go to the post office, but really what it has positioned themselves to do is they are in ecommerce player. They help both large businesses, the specifically Small Businesses compete in todays age where ecommerce can essentially the 100 business so stamps. Com. Provides a slope Logistics Solution to the small companies. Awesome company, great quarter. We would be buying that one if it falls back down to a