Border, and they want it now. I think the economy is key, its front and center in so Many Americans minds as theyre depleting their savings. Theres record drawdowns on 4011ks. This is going to to be the second big night of the process because so many people watched that first debate, were likely to see lots of people watch the second debate. In a bear market, its very select ty the on the sectors that will actually work. Were still bullish on account of the fact that as far as the first leg of the new bull market, we havent broken down here. I have spent all of my life waiting for tonight, oh david i think stuart might be able to say that. Tonight the night for stuart and our panelists at the big debate. This one in simi valley, california, the wonderful Ronald Reagan library. Ive never been there, honestly, but the pictures that youre seeing here that weve who got it all covered, this is one of our drone shots which is extraordinary. Its a Beautiful Day in california, ask weve got it all covered for you. Good morning. It is 11 00 eastern. Im im david asman in for stuart varney. Were just 10 hours away. Weve got live coverage throughout the show. First, were going to check the markets. We should mention we see all red right now. In premarket activity we saw all green. We were expecting to see a good morning. It hasnt been so. Now all of the indexes are in the red. The dow is down 76, nasdaq is just down a fraction as is s p. But, again, a complete turn around from where the markets were. Show me big tech if you can because they, again, were all in the green. Alphabet and meta in the green, but microsoft, a apple, amazon, her all in the red. 10year treasury, lets see that is now in the green. Started out negative figures, Interest Rates had come down, now the 10year yield, over 4. 5 , 4. 56 . Its in the green. The yields are up. That might be driving the markets down. Back to the second republican debate. Lets bring in Martha Maccallum who is with us. Hi there, everybody. Good morning. David you mow what the dethe baits are all about. I asked debates are all about. I asked stuart, how are you going to keep order. Im sure you had some advice. They want the debaters to debate among themselves, but how do you stop them if theyre talking at the same time . I would say this, a boring debate is worse than one that occasionally runs over the buzzer, you know . Nobody wants to see everything perfectly aligned and, you know, lots of talking points. You do want to shake it up, you do want to get these people going at each ore other, and then you have to rein it back in. Bret and i had to jump in several times, but the key is to make sure that youre balancing the time. Thats one hinge that view soars right not realize. Our producers are keeping track of the amount of time that each candidate has. Its never going to be 1100 100 even stephen, but you want to keep it fair and balanced up there. If there was a situation where we knew somebody wasnt getting as much time, then maybe youre tossing a question to them that would have gone to someone else. So you try, a moderator, i actually loved this role because you are moderating the situation. Its different than an interview. This is not a oneonone where youre going back and forth with the person. You want to keep them on the rails. You want to have all of your background to hold their feet to the fire on, no, thats not what you said 10 years ago on that. You have to have that ready to go. But really it is about candidates. David and as you were saying, you dont want to be a slave to the buzzer. Brit hume has been saying that for years. You want to control things. You dont want everybody speaking at the same time, but if theres a little bit of overtalking, you want to let that go. This is why we dont have a. I. Moderating debates, right . You want to use your judgment, and if someone is going somewhere that is an interesting moment, you want to let them finish, you let them finish. The buzzer is a guide, but i told stuart it should be nice and loud. [laughter] david he knows how to do it. Hes got that Great British accent. Exactly. David lets bring where it up to whats happening now. Its very exciting, whats happening mt. Movements mt. Polls. I know theyre polls and i know the elections a year off, but at the same time biden is really in trouble right now. And independents, we always look for that biggest voting bloc. 40 of voters are independents, more than either the dem the do accurates or the republicans democrats or republicans. Only 36 of incompetents approve of independents approve of biden. Just 36 . And the very interesting fox poll that took place about a week ago, there is a huge move, a big swing in which trump is now over biden among independents by 10 points. I think we can put it up. Trump over biden by 10 points among independents in october, late october 20222, they favored biden by 20 the points. So its a complete swing. What do you make of in this . So this is where elections are won, right . And whats interesting to this, i always and i know you guys all saw deny this as well, National Polls are pretty unuseful in many wayses. You want to look at the early primaries. Were only a few months away from iowa, new hampshire, south carolina. However, this is the question, when people are asked if you had to the pick and we know most people dont want to pick between trump and biden but you had to pick today, who would you pick . What ooh so fascinating is i would gather given this 10point gulf, youre seeing even suburban parents in areas across the country who are saying, well, if i had to pick given the fact that my target just closed and people are, you know, i cant i have to unlock everything at walgreens, and my kids are not caught up in their classrooms yet and all of this stuff thats going on, i guess with that, you know, theyre saying i would go back to what i had rather than what i have now. Are you better off now than you were then, right . That reagan question. And given that binary choice, thats what theyre a saying. So, you know, as you say, were more than a year away. More than a year away. David all those questions about biden too is and more stuff coming out about his relationship with hunter a hunters business well be covering it today on the story. Thanks, guys. David thank you very much, martha. Lets get back to the markets and, again, big switch because at the beginning of the day it looked like they were going to be taken off. In fact, they have taken off to the downside. And remember what happened yesterday . The dow was down almost 400 points yesterday. The nasdaq just popped in the green. Mark tepper joins us now. You are with us for the hour. Excited about that, david. David david are you bullish or bearish . Do you want to put yourself in a category there . I would be expecting both a correction and a recession, so id probably have to go in the bearish camp. When you look at the stock market, last week hedge funds ramped up their short positions the most they have since march of 2020 which is when we had peak fear at the beginning of pandemic. When you look at etf demand, the etfs that are most in demand right now are defensive david like . Like either an agg, a bond position or a dividend payer, so things like that. And then when you look at just overall recession warnings, small caps arent doing well, industrials arent doing well, and that typically coincides with a recession. Now, on top of all that stuff we have a consumer thats getting tapped out. Consumers are reaching for their credit cards, savings are being depleted. A few months ago i was on here and i talked about how for the bottom 60 of americans, bottom 690 of income earners 60 they have less in savings today the than they did at the beginning of the pandemic after you adjust for inflation. That is now a bottom 80 . So only the top 20 are doing better. So when youre losing that middle income earner, its going to be tough for the economy david now, these people had been maxing out on their credit cards just to kind of pay the bills among other things with rising inflation. What happens when they have to pay the pipersome. Thats actually starting to happen right now. Credit card application rejections are skyrocketing. So the old game of, you know, robbing peter to pay paul, you go out and get a new credit card when you max the last one out, that games coming to an end. And then you throw on top of that student loan payments coming back on line which are 380 a month, the consumers many a challenging situation over the course of the next few months. David they just told me youre working on your birthday lauren today . If. David good stuff. Appreciate it. David thank you for spending some time the, we appreciate it. Lauren, come on back in. Youre looking at amazon. Lauren down another 1 after yesterdays selloff. So lina khans ftc and 17 state attorneys general, bipartisan by the way, they filed an antitrust lawsuit that characters targets the core business, ecommerce. It allege as amazon literally punishes sellers if they offer products cheaper elsewhere. How are they punished . Amazon allegedly pushes them down in the search results. Also coercing sellers to use amazons more expensive fulfillment services. The suit stopped short of calling for a breakup of amazon, but already amazon warning, look,erers will see consumers will see higher prices as a result. David thats interesting. New York Stock Exchange terra energy. New York Stock Exchange terra. Lauren down they go. They cut their longterm growth outlook. When i say cut, hay slashed it in half, and the reason is higher Interest Rates. David costco. Lets switch to costco. Lauren they were down earlier even though they had better than expected earnings, but ten plus brokerages have raised their price targets, the highest is 680 which is 120 more than where were at now. First, in my opinion, investors were disappointed that after six years costco didnt increase those membership fees. So maybe the thinking is, well, costco knows what theyre doing because they realize how fragile the consumer is, they want retech. A higher price might make consumers say, okay, we cant afford concern. David wish them the best. Costco, go for them. Lauren, thank you very much. Former auto czar steve ratner is criticizing President Biden for attending the uaw picket line. Hes calling it flat out wrong. Meanwhile, a mob of more than 100 teens ransacked businesses across philadelphia. This was last night, excuse me. Police say they were coordinated attacks, organized crime. Weve got the full story. And a new poll showing donald trump is gaining among hispanic voters. Most of them are frustrated with the current state of our economy and whats happening at the border. Sean duffy dealing with that one coming next. Why are you my clarity . Ah, these bills are crazy. She has no idea shes sitting on a goldmine. Well she doesnt know that if she owns a Life Insurance policy of 100,000 or more she can sell all or part of it to coventry for cash. Even a term policy. Even a term policy . 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David and now this, the House Oversight committee is going to be the holding its first hearing on President Bidens impeachment inquiry. David spunt joining me, take us through the process. What are we going to see tomorrow . Reporter its going to be a long day tomorrow, david, and its the an impeachment inquiry which really just means an investigation though its significant as this is a hearing into the president of the united states. Now, while it has the name joe biden in the headline, the name well hear over and over again that ties it all together, hunter biden. House oversight chair james comer says he will show evidence that hunter biden received more than 250,000 that originated in china in to 19 in 2019, the beneficiary address for the funds, the delaware home of president joe biden. Comer says this proves a direct connection between the two. He also claims that from 201420219 the biden family and their associates received 24 million many foreign payments, saw million to the bidens, thrush 9 million for business associates, 4 million more than previously known. One thing that we all agree on is chinas a threat to the united states. And here we have more evidence of the biden family receiving millions and millions of dollars from our adversarial country for who knows what. Reporter but democrats, david, are sticking by their i guy, chalking up the hearing to political theater. Watch. Theyre, again, theyre not offering any evidence. You know, weve spent seven months with thousands of pages of bank records and suspicious activity reports, and they simply dont have a shred or morsel of evidence linking any wrongdoing to President Biden. Reporter the white house spokesperson from the White House Counsels Office is saying that comer should be focusing on the government shutdown. He says they should focus meaning comer and judiciary chairman jim jordan on doing their jobs to avoid economic disaster, not these partisan d. C. Games that have nothing to do with helping americans lives, end quote. The Oversight Committee not expected to make any moves to launch a formal impeachment tomorrow the, theyre still gathering the facts. But could this lead to an impeachment . Absolutely. Well see how far republicans want to take this over the coming weeks and months. David david, thank you very much for that. Sean duffy joins me now. No evidence no evidence, no connections, etc. 250,000 wired to hunter at joes address when he was at joes address by a chinese businessman related to hunter. Jonathan lee is his name, whose daughter received a personal college recommendation from biden. I mean, talk about connecting the dots, there are a lot there to connect. Well, there was no evidence of donald trump colluding with russia, and the fbi, the doj, theyre all involved and democrats, the media, and they impeached on nothing, donald trump. You have real evidence. Donald trump sat down im sorry, joe biden sat down with hunters clients, had dinner with clients, did phone calls, Shell Companies filtering millions of dollars into the country through hunter biden. Heres my frustration, david. The fbi can simply unpack whats going on inside of these transactions that that go to hunter biden. Really easy to do. You saw that with bob menendez. They easily saw the cash in the pockets, the gold bars, they investigate and, lo and behold, theres charges. They refuse to do it against hunter biden. And so now the house, its a legislative body, theyre not an investigative body. Theyre not made to actually find these facts, but theyre doing the best they can because the fbi is so partisan and wont look at joe biden, they have to do it. And, by the way, im amazed in nine months how much material they have on hunter and joe biden. And then theres david the obstruction. The irs agentses who were following the money and that was their job, were warded off by david weiss and others in the Justice Department, warded off there from investigating any connection between joe and hunter. When we talk about a shutdown thats looming, republicans cant get their act together, be simple. Fbi, doj, maybe cia a, irs, pick a few things the americans agree on. You have way too much money on your hands when you can play partisan politics inside these agencies. David weve got to the talk about the border because were going to be hearing about it tonight at the debate. Theres a new poll showing that donald trump is gaining momentum. Donald trump or is gaining momentum among hispanic voters in the party. The bottom line is there are a lot of u. S. Citizens or hispanics who do not like an open border such as weve seen, because they had to do it the legal way. Now a lot of Illegal Migrants who came here illegally are getting freebies and getting work permits, etc. Because hispanic voters care about the economy, they care about transgender issues, they care about abortion, they care about the border, they care about their security and safety. So when these things go awry under joe bidens administration, they look and go, is there an alternative . Obviously, they want to find a Different Party thats going to fit their values. I think also in the poll that you referenced, david, is that if you have englishspeaking hispanics, donald trump is only 5 down off of joe biden. The spanishspeaking hispanics, its like a 30point range. So theres the a difference in what language you speak, where youre at in the country, and its probably the information flow. David sean duff the my, great to be seeing you. Im going to see you tonight. David dagen mcdowell, your to cohost for a special 32hour edition of the bottom line it starts at 6 p. M. Eastern. I think im going on there in the 7 hour, right here on david, youre going to razzledazzle. I cant wait for it. Its going to be great. [laughter] david i think dagen will be the razzledazzle. Now this thank you, sean. President biden attended the uaw picket line, but a former advisor to president obama is calling biden out for it. Ashley, what did he say . Yeah. Were talking about Steve Rattner who was the auto czar during the obama administration. He says, well, biden made a big mistake by what he says is caving to progressives in joining that picket line. He said, quote, for him to be going on a picket line is outrageous. Theres no press tent the for it. The tradition precedent for it. The tradition of the president is to stay neutral many these things. I get the politics. The progressives said we dont want a m