Stuart it is 10 00 eastern. Straight to the money. I see some green but not that much, thousand 20, nasdaq up 24. Heres a key number, the yield on the 10 year treasury going up 4. 93 as it gets closer to the 5 mark. Stocks wavering and coming down a bit. Another important number is going down today, the price of oil, 87. 55 a barrel, thats an important number approaching 90 a barrel. Investors dont like that. After bitcoin, 20,000 of small change, big number just arriving on our computers, the latest read on existing home sales. Lauren existing home sales fell for the fourth month in a row to seasonally adjusted annual rate of 3. 96 million. To put that in historical perspective, it is the lowest in 15 years. Working to get other details but right now pretty grim report. Stuart under 4 million on an annualized basis. Lauren if the price is still about 400,000 and rates searching, weve got a problem. Stuart adam johnson with us this morning. That a terrible number for the real estate market. Spread out to the rest of the economy. It doesnt i will tell you why. One third of the Consumer Price index calculation is to housing. As long as you have home prices ironically staying high. Lauren 134,000 is the number. Stuart that is the median price. Adam its very important inflection. There is a dynamic i want our viewers to understand, home prices are so expensive with Mortgage Rates so expensive but heres why. Everyone who could refinance down 3 , now none of those people want to sell. As a result there is no supply of homes, because theres no supply of homes for sale people are renting and driving up rental prices. Thats what is increasing that component. I dont know what breaks it and it upsets me because as long as rents stay high we have pressure, upward pressure on inflation. Its a problem. Stuart thanks very much. Now this. Tonight the president addresses the nation. He will outline the support we will give to israel but he leads a divided party, not all democrats are on board with his policies. Rashida tlaib tearfully said this. President biden, not all americans are with you on this one. Genocide and killing just like this, we stand by and say nothing. All of you need to know. You are the right side of history. Stuart despite the evidence, she speaks as if the israelis attacked to the gaza hospital. She is pushing hamas lies in the United States congress. Bernie sanders because he israeli siege of gaza a war crime. The squad lined up behind the ceasefire and deescalate banners always pushing for hamas victory currently acknowledging the despicable surprise massacre which hamas inflicted on is really civilians on october 7th. Antisemitism is alive and well in the Democrat Party. Where does this lead Jewish Voters who traditionally support democrat candidates, where does this lead the president . He is going to ask congress for a 10 billion aid package for israel. Any opposition from democrats will not look good. The worst thing is the left is deliberately inflaming public opinion, waging an antiisrael, prohamas campaign and the arab world is taking their cue from members of the United States congress, that is outrageous. Second hour of varney just getting started. Stuart kathy, Mary Catherine is with us this morning, sorry about that. I mispronounce to that. Whats the Democrat Party going to do with the squad, promoting antisemitism and calling our allies in israel war criminals, what are they going to do with them . Mary its a problem for biden. 71 of the American People hold this past week have sympathy for the israeli people as they should obviously. The right side of history is to acknowledge that war is hell and selfdefense is righteous particularly in this case, against those wantonly murdering civilians is the side you want to be on. Remember when we were told as private citizens we shouldnt be spreading disinformation about covid when we were having conversations about things that could be true in the administration used the powers of the federal government to bully social media into telling us not to say those things, interesting the deformation brigades are not out for Rashida Tlaib when she repeats things that have no evidence, the idf in our own pentagon and biden himself have said this is not true and it does have reallife consequences. I m happy for americans in the streets to say whatever they want and even to live, this is what freespeech is about. It can be despicable. It is still freespeech. If you are a leader in congress, be responsible but they are not going to be responsible because they are on the wrong side of history on this one. Stuart well said. Jim jordan failed to be confirmed as speaker again but he doesnt succeed on the third try probably today, time and for the gop to move on and pick someone else . Surely it is. There are whispers they might confer to Patrick Mchenry who is on the pro tem spots the more power so he can get through the end of this year. That might be the wise thing to do. Im not temperamentally a jordan person but if i were a Problem Solver type person i would have voted for him for functionality. Your voters will cover punishing more for dysfunctionality than any particular speaker. You can see jim jordan losing the security fights, giving away part of trumps tax reform to get new york votes on his own side. It suggests leading a caucus that has a lot of people in it means, jordan has imposed on members of the past, thats why some of them are angry and not voting for them. To do for instance aid to israel or resolutions about israel to show solidarity to censure representatives spreading lies, do the resolutions, talk about this in a real house setting, do oversight, something republicans earned with their majority in without a speaker, you are unable to do the voterss work for them in this house and they will punish you for eventually. Stuart just get on with it, avoid the embarrassment and the pain. Thanks for joining us, see you again soon. Back to the markets, 37 minutes into the session, dow down 60, nasdaq up 24. It looks to me like the markets are looking to find power. There are a couple things we can point to. Over the past two weeks, markets have been oversold, so much selling that it gets to a point where you exhaust the selling and we can measure that specifically, 95 of the stocks, the s p and the nasdaq have fallen below the 50 day moving averages. That is a total washout. Weve only seen that 5 times in the past 6 years and each time markets have bounced. Thats one indicator that gets to this notion that we may be approaching a lot, you can only sell so much before you are not selling it before people like me say maybe we shouldnt be buying. The other thing thats happening is very important for viewers to understand, stocks are going down because bond yields, Interest Rates, are going up. Now they article point. A real line in the sand, 30 year yield at 5 , because it was the contract high going back to 2,007, we pushed it, weve gone up, we keep testing it, testing it, traders in chicago tell me that has to hold and if it does, thats good for stocks. If it doesnt, yields going to 6 and we can all agree if yields go to 6 weve all got a problem from housing to stocked everything else. Stuart there is broad agreement we are spending too much money. Matt gaetz says stop spending money. s matt gaetz right, you are gaetz supporter today . I agree with him that we are spending too much money, money we dont have and cant afford to spend and need to stop it. I disagree with how he went about trying to get everyone to agree on that which was to boot Kevin Mccarthy because now we are the headless horseman. We have crazies around the world, dont have anyone in charge so i dont agree with how matt gaetz went about it but he is right, we have a spending problem. Stuart thanks. Lauren is looking at the movers and i see las vegas sand all over the place this morning, whats the story . Lauren revenue doubled from last year and casino revenues significantly tripled. Peloton back in the news. Lauren some of these a can of changes are not being bought. But stock underperformed, two things, declining engagement and they call it a turn when you lose your customers because all those people, the fitness fanatics who came in because they were bored during covenant couldnt go to the gym, the subscriber lifetime limits are about up. You subscribe to something and stay put for a couple years and then you are done. Stuart lets take another look at American Airlines because they were all over the place, now not. Lauren stock is up 3. 5 . On the Conference Call the ceo said yes, demand remains steady even though their Pricing Power is not. Stuart next one, taiwans fox. Com announced a partnership with nvidia. I presume they are working on ai. Lauren i always associated fox. Com with the apple iphone. Thats all they did in my head. But now electric vehicles to robotics. Now it is a taiwanese comedy, taiwan is important because they are building an ai factory with nvidia to be the data center for the different diversifications of their business. Wise taiwan important . Because nvidia is seeing more curves on its technology than it sells to china so now they are doing more business with taiwan. Its diversification for them as well. Stuart nvidia back up again. This is gone up and down and up and down. Mostly up. Next case, what do we have, what do you make of that deal . Adam i like it. I own nvidia and you are right, it is up and down and up and down but theres been a lot of talk and speculation. I want to shine a light on this about the earlier this week decision by the white house to restrict sales of nvidia chips to china because you dont want to them going into china. China only accounts for 15 of nvidias sales and the chips going into defense applications, only 3 or 4 of that. I dont want to say much ado about nothing but weve taken a headline and blown it up. If you worry about a drop in sales, dont be. The fact that they are doing this deal is great and wonderful. Stuart 600 on that one. Next ordinary story. 100,000 Illegal Migrants have crossed our southern border in 17 days. Border agents say theres been an increase in specialinterest aliens, people who come from countries that promote terrorism. We have the story from eagle pass, texas coming up. President biden plans to ask congress for one hundred billion dollars in aid to ukraine and israel but not everybody on capitol hill is on board. Senator john thune is on the Senate Finance committee next. Explore endless design possibilities. To find your personal style. Endless hardie® siding colors. Textures and styles. Its possible. With james hardie™. That first time you take a step back. I made that. With your very own online store. I sold that. And you can manage it all in one place. I built this. And it was easy, with a partner that puts you first. Godaddy. I suffer with Psoriatic Arthritis and psoriasis. I was on a journey for a really long time to find some relief. Cosentyx works for me. Cosentyx helps real people get real relief from the symptoms of Psoriatic Arthritis or psoriasis. Serious allergic reactions, severe skin reactions that look like eczema, and an increased risk of infections, some fatal, have occurred. Tell your doctor if you have an infection or symptoms, had a vaccine or plan to or if ibd symptoms develop or worsen. I move so much better because of cosentyx. Ask your rheumatologist about cosentyx. Stuart this is extraordinary. The first 17 days of this month, more than 108,000 migrants have illegally crossed the southern border. Griff jenkinson eagle pass. Weve also seen a rise in the number of specialinterest aliens. What is that . Reporter good morning. To go back quickly to the one hundred 8,000 in in the first 17 days, 83 roughly have been released with notices to appear, officials here say that is 75 being released. If you are a migrant crossing, 3 out of 4 are being released and allowed to stay, that is to come. We can take a birds eye view of the sky in the eagle pass area. Since ive been on the ground in the week and 1 2, theyve had a dozen specialinterest aliens with ties to terrorism. Weve had six irani ends, three from lebanon, one from syria, they walked up behind yesterday as well as from china and one from saudi arabia. Thats the problem. I want to show you drone footage we shot yesterday. Look how big these groups are, this one was 250, 260, just a mile up the road from where we are. The majority of these are from venezuela. To come here in droves i want to show you one video of yesterdays it is a first, drone footage from Border Patrol and ice, flying them back to venezuela because for a decade or more we had no relations with venezuela, not been allowed to do it. It is a good first step. The chief of the border yesterday, sending migrants south of the border. Message for the migrants, and this is what we look forward to. Each and every day, they will take you straight back if you choose to ignore immigration laws. Reporter officials, haitians under the bridge, did that under a special agreement. This helps with the venezuelans but numbers are lopsided because since october 1st in the eagle pass area, 7500 venezuelans, 127, a drop in the bucket, perhaps a good start. Stuart Senate Minority lip senate moral roi with john thune joins me now. What is done with the specialinterest aliens . Not enough. This is a huge problem. You heard griff mention this. September was a record, 265,000 people apprehended illegally trying to get into this country, 230,000 in the month of august. The thing thats concerning about it, they figured out, this was a regional thing, a lot of middle eastern countries, 659 people coming from iran and last year, 151 people on the terrorist watch list. Think about that. That is more than the previous six years combined, people figured out we have a porous southern border in a nation based on the rule of law, you cant have that. We got to enforce the law. This president and this administration isnt doing it. Thats why we have a crisis on the southern border. National security crisis. Stuart the first 17 days of this month, one hundred 19,000 migrants coming across the southern border. Every year, we allow 65,000 h one b visa holders, people we want in our country, 60,000 a year, 108 in the first 17 days illegally this month. I want to point that out because the numbers are staggering. Totally upside down. Legal pathways to get workers here and an absolute disaster at the southern border. The administration turning a blind eye. Stuart President Biden is calling for one hundred billion dollars in new aid for ukraine and israel. Are republicans on board with that . If we raise military spending, do we have to cut social spending . Reporter we are told in the price range of what we are talking about. The key, i dont know how this will come together but there will be israel and that enjoys broad deep supporting congress, ukraine is a different issue, the political sport support is not what it would be dealing with israel but the southern border has to be part of this, dealing with National Security and all of those things. Obviously defense is something many believe we live in an incredibly different world, things have changed dramatically. As former secretary bob gates said our holiday from history is over. Weve got to beef up our military. How that gets done is an open question. A package from the white house, figure out how to fashion it. We have other fiscal matters and concerns, huge debt and we need to think about how to fund our military and take care of National Security and do it in a way thats fiscally responsible. Stuart thank you for being with us this morning. Always appreciate it. Now this. The governor of texas has received a lot of attention from busting migrants to sanctuary cities. Is the governor changing his approach . Lauren the first approach was successful, busting migrants to blue cities and putting pressure on a democratic president to do something about it and now, abbott wants to change texas law to make crossing the border from mexico without authorization a state crime. That would embolden texas police to arrest the migrants who are flooding over the border and deporting some of that. It would critics say this new law violates immigration policies and give conservative judges too much power. Could it be deliberate by the governor of texas to push the more conservative Supreme Court to broaden immigration policies and beef up what states can do . Stuart give the state more power. What is wrong with that . Lauren that is why i said the blessing of migrants out of texas was successful in trying to change something. 40,000 adults in the city shelter system, guess how money have applied for a work permit, 2,000, 3 of the migrants that are living here and it gets worse, none of them have received federal approval to begin working. I cannot figure this out. Looking at the numbers it looks like they are not trying to work, you could say it is paperwork confusion. I dont know or they are working under the table. Adam we didnt know how to deal with of them at the border or once they came here and now we dont know how to deal with them once they are in various cities around the country. There is no plan. There is no leadership. Stuart now this. A tv station in israel releases video showing rockets being fired from gaza, the station claimed the video is proof the rocket came from the palestinians. We have the story. President biden says getting hostages out of gaza is top priority but Security Experts say time is running out. We speak to Army Special Forces veteran next. vo Verizon Small Business days are back. From october 16th to the 22nd. Get a free tech check and special offers. Like a free 5g phone. Plus, switch, keep your number, and get up to 300 off. With verizon business. Its your business. Its your verizon. My Little Family is me, aria, and jade. Just the three of us girls. I never thought twice about feeding her kibble. But about two years ago, i realized she was overweight. She was always out of breath. Thats