Terrific rally. But your 401 k has taken a hit. I think election chaos is largely to blame, and well bring you that debate throughout the show today. Look at this, as of right now, well, we had a huge selloff yesterday, and heres where we stand this morning, were way down again. A hot more selling. More a lot more selling. More worries about a second wave in europe, and there has been an uptick in virus causes here. Look at this, the dow down maybe 160 points. Youre back to 26,500, s p down 25, and look at that nasdaq, 10,600, down 150 as of right now. Premarket. Were on it. And heres what youre looking at right now, a uhaul truck in louisville, last night. It had been prepositioned, loaded with protest signs. The Kentucky Attorney general will not prosecute two of the three officers involved in the death of Breonna Taylor are. After the decision came down, the uhaul was unloaded, and violent protests began. Who paid for the signs . Who organized this protest . Two Police Officers shot in louisville last night. Disturbances in several cities. Urban violence is going to be an election issue. Were going to cover it all. Lou dobbs on Hunter Bidens influence peddling and joe biden doing nothing about it. Larry kudlow will join us. The administration help the airlines and the hotels . Good questions. Varney company is about to begin. Will you commit to making sure that there is a peaceful transferal of power after the election . Were going to have to see what happens, you know that. Ive been complaining very strongly about the ballots, and the ballots are a disaster. Get rid of the ballots, and well have a very peaceful there wont be a transfer, frankly. Therell be a continuation. The ballots are out of control. You know it, and you know who knows it better than anybody else . The democrats. Stuart there you have it, the president acknowledges election chaos. Investors do not like it. Look at this. Again, were showing you the premarket, the futures action down, red ink all aacross the board. Susan li we me as usual. Give me your take. We have multiple factors at play. Election, stimulus uncertainty, also rising covid cases across the way in europe and also right here in the u. S. Weve seen cases go up since mid september, and you stretch tech valuations as well. The good news is were six months on from the march 23rd bottom that we saw, and the s p is up 45 since then. Thats the longest rally West Virginia seen since 2009 rally weve seen since 2009 but were 10 points away from correction territory. Traditionally a weak month for stocks, september, it has been way back to 1950, election cycles usually get a stall through the end of the year, but i should point out that the betting markets and rbc markets has quoted them this morning, the betting markets are favoring a Democratic Victory in the white house, the house of representatives and the senate. So odds for democratic control of the senate still remain the most volatile. Stuart good lord. Theres more election risk as far as investors are concerning. Yes. Stuart maybe a win for the senate democrats. Did you see this morning, 870,000 jobless claims last week . Continuing claims was a bright spot because you had less people on longterm unemployment, so theres been a pickup in people being rehired. Stuart ive got a feeling the election overshadows the whole thing. Lets bring in market watcher gary kaltbaum. Ive spelled it out, i think the election is causing this selling what do you say . Well, im in florida, so two words, hanging chads, come to mind. No doubt. Look, uncertainty has always been a problem for markets, and when were dealing with an election where you have two people that are just so opposite of each other, especially on tax policy which really drives the economy, youre seeing what youre seeing. But susan li is right also thank you. On the fact weve had a really good run in the market. The nasdaq went crazy to the upside, and you do need corrections. Theyre a normal course of business. And ill give you some good news. Seven times since 1987 bear markets or 10 plus correction have bottomed in october, and im not predicting it, but thats what im going to be looking for as we continue lower right now, especially in the leading nasdaq area. Stuart i just want to continue on this election chaos theme. Its not just a delayed and contested election. Susan just raised the issue of the betting markets which are predicting a biden win. Maybe a democrat win in the senate and for sure a democrat continued win in the house of representatives. Thats election risk of a different kind. Its the risk that the socialists get in and enact a socialist program. Well, ive been talking about this, and i dont think people have been loud enough about the tax policy. Joe bidens tax policy makes obama look like reagan. And i really do mean that. Were talking a selfemployed person in new york city or california makes over 400 grand, hes going to be paying in the mid 60s in taxes, in florida in the low 50s. So they call it the Social Security tax, they just might as well raise marginal tax rates up bigtime here. And thats going to affect the economy, its going to affect investing, and im not even talking about the fact that big corporations that are used to 21 tax rate now have to change to 28 . So thats less hiring, thats less investing, thats less profit, and i think theres a component with that also in the market. Stuart all right, gary, thanks very much, indeed. Weve got a say of red ink across the board this morning, dow, nasdaq, s p all down. Listen to this. Theres a new poll, and it says about twothirds of voters do not think the election will be decided on november the 3rd. In other words, delayed. Pete hegseth with us, fox Friends Weekend cohost. Youre talking to the people in minnesota. Trumps headed there tomorrow. What are people there saying about the delayed and contested election and the Supreme Court . Well, stuart, thanks for having me. Were here at the countryside restaurant in bemidji, minnesota, this is a big swing state. I think almost everyone here this morning has acknowledged that election day probably wont provide a call for either side, and the big fear, the worry, the anxiety youve been talking about, the uncertainty is how long are the ballots counted, how much is it disputed, how long are the lawyers involved. And thats why ive asked diner after diner this morning, they felt it was imperative that the president nominate someone as soon as possible, get el them confirmed before get them confirmed before the election so you dont have a 44 court that could possibly continue the uncertainty beyond the disputed election outcome. At least seat someone so youve got a 54 decision one way or the other, especially with the little bit of the flakiness of Justice Roberts lately. You dont want to have that 44 split if anxiety continues with a contested election. Its almost baked in, stuart. Theres a recognition Election Night wont be the same. Stuart there were more protests last night, two officers shot in louisville following the grand jurys findings in the Breonna Taylor case. Violent demonstrations in minneapolis, more last night, i believe. What now, youre in minnesota. What effect on the election from these violent, ongoing protests . Well, the big question is how much will democrats, including outstate democrats in places like minnesota, embrace the radicalism of inner city democrats who are talking about defunding the police. Those conversations are sometimes echoed by democrats as far north in places like this, does that really resonate with voters . Do people really want to hear the idea that you would defund the police . Those kind of radical ideas are what are turning people away from them. Remember, in minnesota its the democrat arm labor party, turning them away from the dfl and turning them to President Trump and are republicans who are simply saying law and order, supporting our police is important. When you see riots like that increasing violation, and it translates into the democrats not supporting police, that has a political consequence for them especially outside of urban cores. Stuart all right, pete, thanks for joining us this morning. Well see you again later. Thank you, stuart. Stuart take a look at tesla. Down big yesterday, down premarket this morning, down another 20. Cut the price target to 377, its at 360 now. Look at nikola, down bigtime premarket, web bush has downgraded them to underperform. They cut the price target from 45 to 15 per share. You know, susan, electric vehicle makers in very bad shape right now. Well, given that we have that california bill signed yesterday looking to end gaspowered vehicles by the year 2035, you would think that would be a boost to their stock price, but i think nikola and tesla are go go are two different cases. Stuart i just dont think that electric vehicle makers will have that big an impact on the vehicle market. I think think theyre going to get 10 of the market overall by 2030. Well, again, if you have legislation and regulation thats pushing states and customers towards electric, that might change. Stuart okay. But im not buying tesla or nikola right now, thats a fact. Thanks, susan. Check futures again, please. Were down, down, down, all across the board. Were talking election chaos, but were also watching a second wave of the virus in europe and what that may mean for us. Dr. Fauci, he says we could get a vaccine for every american but not til next april. And look at this, this video emerging now, protesters in louisville grabbing what might be called demonstration supplies from the back of a uhaul truck. Sure looks like the riots and protests are paid for and organized. Then theres hunter biden receiving 3. 5 million from the wife of the former mayor of moscow. Oh, it was a Wire Transfer. What did he do to get that money . Looks like influence peddling, and joe biden did nothing about it. Big show ahead for you, lou dobbs, larry kudlow. More varney coming up. Smooth driving pays off with allstate the safer you drive the more you save youve never been in better hands allstate click or call for a quote today groans hmph. food grunting menacingly when the food you love doesnt love you back, stay smooth and fight heartburn fast with tums smoothies. Tum tumtum tum tums with tums smoothies. Lookentertainmentour experience xfinity x1. Its the easiest way to watch live tv and all your favorite streaming apps. Plus, x1 also includes peacock premium at no extra cost. This baby is the total package. It streams exclusive originals, the full peacock movie library, complete collections of iconic tv shows, and more. Yup, the best really did get better. Magnificent. Xfinity x1 just got even better, with peacock premium included at no additional cost. No strings attached. In november youll probably see, you know, 50 million doses available. By december maybe another 100 plus million. And then when you get into january and february, by the time you get to april, therell be a total of about 700 million. But were not going to have all of the doses available, for example, by the end of december. They will be rolling in as the months go by, and by the time you get to maybe the third or fourth month of the 2021, then youll have doses for everyone. Stuart dr. Fauci there says we could have enough doses of the vaccine for every american by april. All right, thats what dr. Fauci says. Susan, what have you got on the vaccines . Look, we have nearly 150 coronavirus vaccines in development around the world including in china, russia and the u. K. , elsewhere as well, 38 already in human trials, 9 are in advanced phase three trials. So Johnson Johnson johnson, sg their singledose trials this week, but you also have other pharmaceutical players in the raise including race including pfizer, moderna, and while final stage testing might stretch on for month or even years and the efficacy and durability of protection, i think President Trump is right, you could have interim results from phase three, and that might be good enough for a vaccine to get Regulatory Approval if you get the status at the end of october or november and before the winter months. Stuart got it. Lets move on to the testing news. Our guest this morning has created the first athome rapid virus antigen test. Hes the founder and ceo of gors, im not sure the pronunciation,gauss. Ive got a series of questions for you. First of all, has your test been approved . So the test is currently going through clinical trials. It has not been approved yet, but were very confident it will be approved, authorized through the emergency use authorization pathway later this fall. Stuart okay. How effective is it . Can you say that . Can you answer that question at this point. Yeah. So heres where were at right now, so were going through the clinical trials. Were feeling very confident about the data were seeing. We have some independent validation that ours is more accurate than ones that are already on the market, so were feeling very confident about the accuracy. Stuart okay. Its an antigen test, and i figure that tells you whether youve had it or not. Why dont you tell us how your test works. Yeah. So, actually, just to clarify, an antigen test actually tells you if you have a current infection or not. Thats very different from Antibody Testing which is a bloodbased test that tells you if youve previously been exposed. The way our test works, its actually quite simple, and we really optimize this for people like you and me to do this at home. The way the test works is you take a nasal swab, a simple nasal swab in both nostrils, you dip the swab in a little vial of solution, and a few minutes later you drip that solution onto a rapid test. It looks sort of like a pregnancy test, so you can do this in your own home setting. In about 15 minutes, we have a mobile app that uses Artificial Intelligence and Computer Vision elements to allow you to take a scan of that test and to accurately interpret that with the same accuracy and precision of a laboratory the technician or a clinician. Stuart okay. Whats the total time here . Because what we really want is a very, very rapid, are almost instant test. It doesnt sound like youve quite got there yet. Yeah. So i think as quickly as possible is, obviously, a great goal. This takes about a 15 minutes from start to finish to perform. And we think that is actually at the lower end of obviously going to a lab and doing a pcr can take at least 24 hours if not days to see the results. To we think this is going to be a paradigm shift. Stuart im sorry to limit the time here. Thats very interesting, is and im glad youre on the show. Finish si, the darth, we appreciate it, sir, thank you very much. Take care. Stuart now this. Europe facing a new surge in virus cases. Several countries announcing new restrictions, and theyve got a pause on reopenings. Because of this, susan, is europe facing a doubledip recession . If we dont get e the right stimulus, people say we might see a double dip, the good news is that the death rate has dropped. Europe is trying to avoid a second round of lockdowns, you have current restrictions on 13 million u. K. Residents travel across the atlantic might be hindered especially with 14day mandatory quarantines, and that could hurt the airlines, hoe i tell names hotel names. Were going to hear from from fed chair powell and steve mnuchin, the treasury secretary, later on today, and theyre also arguing for fiscal stimulus. Thats the way also in case also in europe. How do you stimulate an economy thats been decimated by a pandemic, right . More people are expected to lose their jobs, so the European Central bank says lets stimulate more, helping those furlough ared workers because you could be, youve got a high probability of being laid off permanently. Stuart and how far do you lock things down all over again . Thats an unanswered question. I think europeans are unwilling to do a total lockdown the way that they did in march and april. They dont want that. I think the markets are not anticipating that, at least until next year, 2021, so if we get some agreement, that may be a positive for the stock market. Stuart take a look at big tech. Why not . Youve got to these days. The Justice Department is now pushing congress to end Legal Protections for some internet companies. Susans got details. You know, this is one of the reasons why google, apple, facebook, twitter, thats why theyre down so much, the threat of legislation and restrictions. Meanwhile, the overall markets are going to be down again, off 150 on the dow, 130 on the nasdaq. The opening bell moments away. Well be back. keeping your oysters growing while keeping your business growing has you swamped. you need to hire i need indeed indeed you do. The moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base so you can start hiring right away. Claim your seventyfivedollar credit when you post your first job at indeed. Com promo when i came to the u. S. , my family was really poor. D. Now, ive got fifty employees. When the pandemic hit, i was really scared about losing my business. But osmar, my Financial Advisor from northwestern mutual, he told me, brother we got your back. His Financial Planning helped to save my business. If i could talk to my younger self, i would say, youre going to be proud of yourself. Stuart three minutes before we start trading this thursday morning. Look at that. A ton of red ink. Going to be down almost across the board. And and theres this, the Justice Department is pushing congress to end Legal Protections for some big internet companies. Susan, surely thats another reason for the selloff. Youre looking at the declines, yeah, another drag on the big tech names, google, facebook, twitter and more, social media, i would say. Were talking about a section of the 1996 Communications Decency act that shields internet companies. Weve heard this before, attorney general bill barr has mentioned this, also the executive order from President Trump, and most experts think a repeal of this type is unlikely to take place this year. In fact, some fcc commi