Biggest incursion to date into gaza. Early this morning a column of tanks and bulldozers moved in. Prime minister netanyahu says the idf is preparing for a Ground Invasion soon, thats his word. President biden has again warned iran not to attack american troops. Central command has confirmed that two dozen soldiers were injured in drone attacks the from groups linked to iran. Next, the market. And the real story here is the sharp selloff in technology stocks. Heres big tech this premarket action. All of them down. All of them down again. Now, there have been some disappointments in big tech earnings, but theyre all way down. Yesterday and this morning. This is not helping, treasury yields going back up again, the 10year now at a 4. 91. It was closer to 5 earlier today to. The 2year till well above the 5 level are, 5. 07, to be precise. Stocks overall mostly down. That was earlier this morning. Then we got a report of 4. 9 economic growth, and that has pared those losses, so right now weve got the dow up 99 points, s p up 9 points, the nasdaq still taking it on the chin because of those treasury yields, down 732 points. Look 72 points. Look at gold, cracked 2,000 an ounce earlier today, back to 1988 now, but it did hit 2,000. Bitcoin is back to the 34,000 level, 34,2, to be precise. The house has a peeker. Mike johnson, a conservative republican from louisiana. Hes already passed the first piece of legislation which was a resolution condemning hamas and supporting israel. Nine democrats voted against it. Ford and the i Autoworkers Union have a deal, a 25 wage increase over four and a half years, by 2028 Union Members will be making 40 an hour. Now the pressure is on gm and stellantis to settle. Union president shawn fein says we won things nobody thought possible. On the show today, governor newsoms trip to china and his cordial meeting with xi jinping. Uberliberal meets a communist dictator, all smiles. Thursday, october 26th, 2023. Varney company is about to begin. Stuart israel conducted a targeted raid overnight on suspected terror sites in northern gaza. It appears to be preparing for a full Ground Invasion. Take me through it, lauren. Lauren the idf says soldiers struck numerous terror infrastructure posts in gaza and then left the area, all part of israels reparations for this next stage of preparations for this next stage of fighting. For now, israel has aguede to the u. S. Request agreed to the u. S. request, delay the incursion, a, for the hostages but, b, to protect u. S. Troops. 24 u. S. Service members were wounded many in drone and rocket attacks on u. S. Bases in both iraq and syria last week, on october 18th, and meanwhile you have hamas calling on palestinian withs around the world to protest the actively, particularly friday and sunday. Stuart and and it will happen, im sure. Wed like you to join Fox Corporation supporting the Israel Emergency Fund in association with the united jewish appeal. Scan the qr cold, donate at ujafedny. Org. Biden had a warning for iran after the takes on our troops. Roll tape. My warning to the ayatollah was that if they continue to move if against those troops, we will respond. And he should be prepared. It has nothing to do with israel. Stuart now, thats a red e line on iran. Ben domenech with me now. Will democrats support a Ground Invasion of gaza . Well, i dont think that they will, but i also think that one of things that weve learned in the weeks since that horrible day ins israel is that this administration and this white house in particular keeps pumping the brakes on what israel is allowed to do from their perspective. And i think that one of the critiques that i would lodge against the israeli leadership is that especially, you know, Prime Minister netanyahu, he has a pattern of listening to the american concerns and valuing them very greatly which typically can be something thats very helpful. But in this instance, im not sure that it has been. I think the Biden White House is very reluctant about being sucked into something, and i would point out in particular if to you, you know, this is a very interesting kind of subset of the story. Theres a lengthy Foreign Affairs essay from Jake Sullivan that went to press prior to that attack on israel. And its since been edit heavily, and i think that its worth people checking out what was said beforehand. I think this white house is operating under a lot of misunderstanding of the region and of what they actually have to be concerned about. In this case, i think that they have pumped the brakes so much that israel may not be able to achieve its goals in gaza. Stuart but theres also a bloc in the democrat party, nine democrats specifically, who do not want a gaza invasion and are really going after President Biden for even suggesting it. And they go even further, i would say, than of the people who are concerned about being sucked into a broader conflict. I do not think it is an exaggeration to call them antiisrael caucus, and they have become increasingly loud in the days since that initial attack. I think that that theres no one really in authority on the democratic side with the capability of getting them to shut things down, and they repeat particularly member rashida tlaib, they continue to repeat falsities about the nature of that attack, what was actually done to israel, and they do so in ways that is insulting to the Jewish Community across america and across the world. Stuart indeed. And the rest of the world is listening to this. Ben, we have a speaker, louisiana congressman mike johnson. Hes looking to get congress right back to work. Watch this, roll tape. Were going to dispense with all the usual ceremonies and celebrations that traditionally follow a new speakership because we have no time for either one. The american peoples business is too urgent in this moment. The hour is late, the crisis is great, and america, we hear you and we are reporting again, as i said in there, to our duty station. Stuart former President Trump wasted no time congratulating johnson on his win. So, ben, Mike Johnsons a trump guy. Did trump call some of the shots in this speaker election . I dont think that its fair to say i think anybody who could are ascended to the speakership would have been a trump guy at this point. But you have to keep in mind that what really people were aiming for, particularly matt gaetz and a lot of other conservatives, were they were hoping for jim jordan to get this job. And i think donald trump would have liked that too. Mike johnson is an interesting figure for a lot of reasons. Hes not a Freedom Caucus member, not known for being a strong fiscal conservative. Hes much more of a social conservative, a christian, a baptist, someone who not a lot of people in washington, frankly, know. He only has 13 people on his staff. So well have to see what kind of speakership he has. At this stage kind of a cipher, and a lot of people are going to be waiting to see whether he becomes kind of the voice of the scalise group of people. Its very odd to have a speaker and a majority leader both from the if same state, in this case louisiana. Well be getting to know him in the coming weeks. Stuart he better staff up too. Ben domenech, thank you for joining us. Good to be with you. Stuart on the economy front, the Autoworkers Union and ford have reached a tentative deal to put an end to the 41day strike. Whats in the deal, lauren . Lauren a 33 increase in pay, 25 for wages but the rest cost of living adjustments compensation and a quicker timeline to reach that top pay of 40 an hour. The union won the battle. The did the union win the war . Is tesla or toyota going to organize and join them in this unionization . Will jobs leave detroit . In other words, did this deal cost their younger workers job longevity . Striking workers are told to return to their jobs this week, so during the contract ratification process. This has not been voted on yet. And on deck is what happens with the uaw and General Motors as well as stellantis. The cost of the strike 9 billion and counting. Stuart thanks, lauren. Check those markets, please. Just a few minutes before the market opens, and were looking at the dow to go actually down a traction p s p down a fraction, but the nasdaq down 68. Adam johnson with us this morning. Why is big with tech selling off . Mindset. Our heads are in the wrong place, and ill give you an example of what im talking about. Last night, meta, facebook if you prefer, put up blockbuster numbers. Revenues were up 22 , earnings doubled from the a year ago. The stock was up 5 . And then susan lee, the cfo, came on and said, well, you know, advertisings a cyclical business, and you just never know about the fourth quarter. It went the from up 5 to down 5. Mindset. We are so so negative in everything that we do right now whether its worrying about inflation, Interest Rates, costs, strikes, whats happening geopolitically, the inability to find a speaker and now finally we do have one in congress. There are all these things that were worried about, and i think its affecting our mindset. And youre seeing that play out in boardrooms. Good news comes out and then you sell the stock because you say, well, you know, weve got problems. Stuart all right, ill listen. Gdp, the economy growing at a 4. 9 growth rate for the third quarter. Thats very strong. Very strong. Stuart what does that tell you about the economy and what the feds going to do . Well, its a lot better than we thought. And there again i would speak specific specifically to the naysayers, to the bears, this economy is stronger than we think, and this is evidence of that. Excuse me. And ive already gotten two emails from people, the number came out at 8 30, two people said, yeah, but it was probably all government spending, and i had to respond and say, actually, no. [inaudible] yeah, thank you, lauren. Lauren up 4 for consumer spending. Huge. Very strong. No, youre actually right. And it was on services interestingly, or right . Were not buying cars, were out there eating in restaurants, were taking vacations. You cant get a room at the wynn resort in las vegas on the weekend. You have to go tuesday, wednesday. Lauren really . Stuart leading indicator. Yeah. Were out there spending money, and now we just need to get our heads in the right place. Stuart adam a johnson, thank you sir. A dreadful story unfolding in lewiston the, maine. A mass shooting, 22 dead. Lauren the gunman, robert card, hes on the loose. Considered armed and dangerous by authorities. Hes 40, former military, trained firearms instructor and a member of the army reserve. He was actually committed to a Mental Health facility for two weeks over the summer after he reported, quote, hearing voices and threats to shoot up a National Guard base. Its been reported that he just lost his job. Could that, im just raising the question, been what ca caused him to snap and kill 22 people at two locations last night . He injured dozens more. The towns of lewis lewiston as well as lisbon, maine, are under shelter in place orders as the police widen their search. Well though more at 10 30 this morning eastern time when authorities are set to give an update, but a terrible story. Stuart we bring you updates throughout the morning as they come in. More varney after this. Bringing you an elevated experience, tailormade for trader minds. Go deeper with thinkorswim our awardwining trading platforms. Unlock support from the schwab trade desk, our team of passionate traders who live and breathe trading. And sharpen your skills with an immersive Online Education crafted just for traders. All so you can trade brilliantly. This is Spring Semester at over 13,000 us school districts, which have become top targets for Ransomware Attacks. But theres never been a reported Ransomware Attack on a chromebook. Which is why thousands of schools like the fairfieldsuisun Unified School District switched to google tools for education. 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Heres why you should switch fo to duckduckgo on all your devie duckduckgo comes with a built n engine like google, but its pi and doesnt spy on your searchs and duckduckgo lets you browse like chrome, but it blocks cooi and creepy ads that follow youa from google and other companie. And theres no catch, its fre. We make money from ads, but they dont follow you aroud join the millions of people taking back their privacy by downloading duckduckgo on all your devices today. Stuart us Israels Defense Forces launch. Ed targeted raids overnight into northern gaza. It is believed to be a few steps towards a pull scale Ground Invasion. Full scale Ground Invasion. Of trey yingst on the ground for us, whats the latest, trey . Reporter stuart, we do have some breaking news. Just a few moments ago, rockets were fired toward the northern part of the gaza strip into southern israel. I want to show you just behind me, youre going to see a maul white cloud where an iron dome interceptor was launched there if southern israel, and it appears it was a successful interception of the rocket. This has been ongoing throughout the day, 20 days into this conflict. That has and Islamic Jihad still have the the ability to fire on southern and central israel, sirens sounding earlier in tel aviv. Now, this comes as we are following updates after last night there was a raid here along the israelgaza border. The israelis entering into the gaza a strip, the largest raid since this war began 20 days ago on october 7th. You can see in this video d9 bulldozers going into the gaza strip. Following them, israeli tanks and infantry troops that were entering this area. Some aftermath of the video that youre looking at here as this is inside gaza where the shelling continues to the target residential areas and other locations where there are hamas and Islamic Jihad targets for the israelis. I want you to listen to Prime Minister benjamin if benjamin if netanyahu who discussed the possibility of a ground operation in the coming days. [speaking in native tongue] translator i want to be clear, the timing of the Ground Invasion was unanimously do decided by the war cabinet along with the chief of staff and the cabinet, and we will act in order to insure best terms for our soldiers for the coming operations. When we get into gauze g gaza down the road, we will collect highest price from those murderers who committed the atrocities. Reporter i do want to discuss the layest numbers we have, the Israeli Military has launched 250 airstrikes against gaza over the past 24 hours, and also the thurm of hostages rising to 2124 people. Stuart 224 people. Stuart florida congressman mike waltz joins us now. Do you support a Ground Invasion of gaza . Because a lot of dem9s democrats dont. Stu, i support israels right to eliminate this threat right on their border. And if they determine that eliminating, in order to eliminate hamas that they have to go in on the ground, absolutely. I do think theyre being pushed to they right now by the biden administration. One, biden wants to get more humanitarian aid in, two, we do have 5600 palestinianamericans still trapped that hamas is not letting out and, of course, the hostage situation to deal with. But i think the bigger issue is we all know once they go in on the ground, hezbollah is likely to open that front in the north. Iran will become even more engaged than it already is, and were having to rush assets in the region. My point is [laughter] if we had just kept up maximum pressure on iran in the first place, theyup wouldnt have had the funds they wouldnt have had the funds to fund all of this in the first place, and we could keep those assets, those carriers, those missile batteries in the pacific where they are truly needed. The fundamental problem with all of this, the illness with all of this is iran. And we have got to shift op our iran policy, otherwise hezbollah, hamas, all of these other groups, theyre just a symptom. Theyre a tactical problem of the overall strategic issue which is ranch. Stuart the president which is iran. The president plans i think its a 105 billion aid package to israel and ukraine. What changes would you make to that package . Well, look, the two existential crises right now are our southern border and helping our ally in israel which literally could run out of rockets in the iron dome. That should go first, that should go together, that should get signed by the president immediately. Then we have a lot of questions when it comes to ukraine. We cant just keep throwing money at a bad policy here. Ask washington loves to just throw money at an issue without taking a step back whether its iran policy or whether it is, you know, how weve settled into a war of attrition and a stalemate in ukraine. Whats the tragedy, how longs it going to take, what is win what does winning look like . Is i