Airstrikes on facilities used by iranianbacked forces in Eastern Syria. S the a correct clash it is a direct clash. Two drones aim at israel launched from yemen. They landed in egypt, injuring six. Iranbacked Houthi Rebels launched those drones. Rockets launched from gaza hit tel aviv, three injured, thousands in bomb shelters. Another tank incursion into gaza. Action on all fronts. And there is movement on the political front too. Look at this, a new poll shows President Bidens Approval Rating among democrats has dropped 11 points in a month. Why in the president s support of us radioreel is popular with the israel is not popular with the left. Not hutch of a bounce for not much of a bounce for stocks, this week was a big tech slaughter e. The dow industrials might open with 157point 17 point game, but look at the nasdaq, thats a nice bounce. Not bad. The two stocks doing well this morning, both in technology, look at em go. Amazon up 6, intel up 2, whats that, 5 up for amazon and 7 up if for intel. Significant gains there. Little change in Interest Rates, the 10year treasury at 4. 86, and weve got the 2year just over 5 , 5. 5 05 right there 5. 05 right there. Gold once again approaching the 2,000 an ounce mark, 1990 right now. Gas down again, if 3. 51 for regular, national average, that is. Down 2 cents. And diesel down 1 cent, breaking below 4. 50 at 4. 49. Bitcoin holding gains, 34,000. Lets get to politics. The new speaker, mike johnson, off and running. The seconds of legislation under his leadership just passed. It cut 5 billion from bidens climate spending. On the hoe today, riley gaines campaigning against biological men competing against women in ports. Haas night she spoke at last night he spoke at harvard. A hundred people inside gave her a warm reception. Demonstrators held a trans party outside. Friday, october 27th, 2023, Varney Company is about to begin. Stuart a lot of movement in the mideast overnight. American forces in action. Good morning, lauren. Who did we hit . Lauren u. S. Fighter jets hit two facilities in Eastern Syria used by iranianbacked soldiers to to store weapons and and ammunition. This after two more u. S. Bases in iraq and syria were attacked yesterday. If youre keeping track, 19 attacks targeting american troops stationed in the middle east in the past 10 days. Those have injured 3211 u. S. Service members 21. Defense secretary austin says the u. S. Does not seek conflict, he continues, these attacks are unacceptable, they must stop. Iran wants to hide its hand and deny its role this these attacks against our forces. We will not let them. Separately, israeli troops and tanks briefly raided northern gaza for the second straight night as they continue to prepare for this longanticipated ground attack that. Stuart okay. Thats the action. Now this, President Bidens Approval Rating among democrats has dropped 11 points in the last month. Thats a record low for his presidency. Byron york is with me this morning. Byron, this is because of his support for israel, i guess. This highlights really the split in the Democratic Party, doesnt it . It does, and its particularly problematic for the president among younger democrats who were more likely to be propalestinian, more likely to oppose israel after the hamas attack on israel. So thats a problem for the president , theres no doubt about it. As a matter of fact, it just happens to come on day that a representative not very well known, Dane Phillips from minnesota, is actually going to the declare his candidacy against joe biden, the first what alling call main treatment democratic challenge to President Biden. Stuart in what way does this divided party impose itself on President Bidens policy options . Well, you know, i think one of the extraordinary the things weve seen about Biden White House is that how sort of out of touch the president is with the number of trends in his party. And as far as the mideast is concerned, with a lot of reality. The president came out on wednesday at is the ceremony with the australian Prime Minister and talked about the twostate solution, we must have a twostate solution in israel. And i think a lot of people these days are saying, you know, the idea of israel and a palestinian state coexisting peacefully next door to each other is just dead at the moment. Its just not going to happen. And the president seems to be completely out of it. And this didnt get a lot of attention but, you know, jake sullivan, the president S National Security adviser, wrote an article for Foreign Affairs in which he basically praised the Biden Administration and said it had disarmed conflict in gaza. Unfortunately for him, it was a print article. It went to print before october 7th, so we have it, and theyve since changed a lot of the online version. But it kind of shows you the Biden Administrations completely unprepared for what happened. Stuart i think its a test this weekend, a test of President Bidens support for israel. Because if the land invasion starts, there will be some significant bad publicity coming out of the damage that is done in gaza, and that will put pressure on this president. Yeah. Stuart how strong is his support in defense of the israelis. Last 30 seconds to you, byron. Well, the president got a lot of praise very early after that mass attack on israel for coming out and saying very clearly, look, this was pure evil. Hamas is the bad actor here, israel is the good actor here. It was very clear. But ever since then hes basically tried to the hamstring israel, put weights around a israels ankles in its efforts to fight back against hamas. And i think when with israel actually does undertake this ground action that weve been hearing is imminent for quite a long while, theres going to be a lot of pressure inside the Democratic Party on the president to put more pressure on israel to hold back. Stuart yep. So i think its going to be a very difficult situation for democrats. Stuart tense weekend. Byron york, always appreciate it. I mow we will see you again soon. Thank you, stuart. Stuart next case. What have we got here . Weve got a few months back minnesota congressman dean phillips called on someone, i think he called on 811, to step up anyone, to step up and challenge President Biden for the democratic nomination. Thats dean phillips, whats he doing . Lauren hes primarying joe biden, and he will file to run in New Hampshire today. I love this. He outfitted his campaign bus with the slogan make america affordable again. I thought that was hilarious. Look, hes rich. Hes the former ceo of a Liquor Company and a gelato company. But his point is i cant sit quiet when lights are flashing that we have an emergency next november. He doesnt think that biden can win. Does he have democratic support . Some are actually saying maybe this is a midlife crisis for him and could end his political career because its a long shot, but is he on to to something . I pose the question. Stuart i think hes on to something, because a lot of people dont think this president can be the president for another five years, so hes going to start moving now. I think its time we looked at the markets. Green on the lefthand side of your screen. Not much for the dow and s p, but for the nasdaq, nice gain, 131. A lot of selling yesterday. Kenny poll Kenny Polcari poll carry withs us. Another a blowout for amazon, do you own it, and do you want to own it . No, i own it and and im going to buy more of it. This stock is down almost 18 in the last 56 weeks from the high, all the nervousness and anxiousness in the markets, all the stuff that weve been talking about has created a buying opportunity in amazon. In fact, look, im missing 6 of it this morning because im sitting here talking to you. [laughter] stuart okay. Well, where where do you think its going . Would you like to put a price target on amazon . If. Well, i dont im not an analyst, so i dont put a price target on it but, look, i own it for the long term. Its one of those foundational names that i think should belong in everyones portfolio because it gives you broad exposure to that sector, and its a big megacap name at a time when the markets are nervous. So you really a want to kind of put money in places that are liquid, that are mega cap in the sectors that theyre in. You talk about it a lot with a lot of people, but i own it, ill continue to own it, and ill buy more. Stuart yields, treasury yields, bond yields e haven at elevated levels. A lot of pundits think theyll go higher still. Thats got to be a problem for stocks, right. Its going to be, and i think theyre going to be higher myself. Yes, i think thats going to continue to be a headwind for stocks especially if we see the 10year pierce 5 again, which i think its going to do. Look, i think the feds going to pause next week, thats all clear. I think theyve made that very clear. If they do anything other than that, i think its going to send a different mention. So i think theyre going message. So i think theyre going to stay quiet. But i do think in the months ahead were going to see the 10year bond yo over 5 again, and thats going to cause investors to slow down and not be so ang a shus. The markets can function, it can the, it just needs to regroup and build a base. Stuart thats the world that im living in, kenny. Im in the 5 treasury yield world, and im a very happy guy. Im tempted to buy the dip in big tech but im staying out for now, because weve got a tense weekend coming in the mid if east. Well, and thats the problem. Stuart it is, isnt it . A problem is always on the horizon there. Rates, middle east. Well, because its friday going into the weekend, so its risk off because people dont know what the next 72 hours could bring. Stuart yeah. 5 treasuries, here i come, boys. All right, kenny, see you next week with. Thanks a lot. The manhunt for the mass shooting suspect is still underway in maine. The latest, please. Lauren 80 fbi units are joining, atf, dea, the coast guard, hundreds of officials in this hunt for him on day two. Investigators are also looking into whether card was targeting a specific person. Could it have been his exgirlfriend . He is divorced, he does have a young child. Abc news is reporting he actually wrote a suicide note and addressed it to his young son. Thats from abc. We do know that he has extensive military experience, also firearms training. There are three vehicles registered to him including a boat. That that boat is missing. It means he, with his skill and his resources, he could be anywhere, is and he has all these people trying to find the him and a community that is very scared. He did kill 18 people. Some of them are starting to be identified at this point. These are the five that have been s. And when you hear from them and their families, i should say, its t, its tragic. Stuart it is, indeed. Lauren that this has happened again. Stuart we will keep you updated on the investigation as it comes in. More varney after this. That you and your family need. I promise to put your longterm Financial Wellbeing above any short term transaction. Everyone has a big picture. My job is to help you invest in yours. 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We understand the israelis are launching more airstrikes across the strip in preparation for what is expected to be a large ground offensive into gaza. Today we were in telaviv, israel s second largest city. The pentagon of israel meeting with the countrys defenseinster, and he discussee discussed what a ground operation is expected to look like. And we understand according to from israels defense minister who spoke with us today in person, israel is preparing for months of fighting, not weeks. You can hear the small arms fire behind me, the airstrikes in the distance. Much of that fighting has begun already, but the large scale offensive is not yet underway. It does come as we are following another story out of the middle east. Overnight american f16s targeting a position in Eastern Syria that is used by the iranians to basically support their proxies across the region with ammunition. Those strikes conducted in response to the attacks on american bases and u. S. Forces across region over the past several days. We also know the israelis here along the gaza border, you can hear those explosions and gunfire in the distance, they are conducting mightily raids with both the navy nightly raids with both the navy and also the army on the ground trying to destroy as many cells and positions along the border ahead of that expected invasion. Stuart . Stuart trey, thank you. The u. S. Did indeed carry out airstrikes in syria overnight. This comes after ongoing attacks against our troops over the past week. Former pentagon official brent sadler is with me now. Is bidens response to those attacks against our people, is it Strong Enough . Absolutely not. And this is kind of a return back to bombing empty warehouses that we saw during the obama year. It really signaled at least some agitation on our part, but it really didnt change any calculation on the part of the iranians and the activities through their proxies. Unfortunately, with the time thats been given, the number of attacks, its going to require more forceful ponces to actuallo actually have an effect. Stuart but the president is, presumably, a wider war. Going directly after iranian targets would widen and war. I think at this stage not acting actually has more of a probability of widening the war and iran being compelled, actually, feeling that they could actually enter more directly. And theyre making such threats right now. Just yesterday in new york at the u. N. So actually going after their proxies and thumping them more effectively actually would be much more effective in containing. Stuart thats not in character no. Stuart with this president. Absolutely not. Stuart hes not ayes, sir i in that sense, so its hot going to happen. I agree with you. Stuart so well get attacked more. Unfortunately, it looks like were going to have more of this back and forth, and hopefully were not going to have casualties on our side before we learn this lesson. Stuart the president wants netanyahu to delay because he doesnt want the bad publicity of a demolished gaza a hitting the world . I think its different at the end of the day, its the israelis that are going to the decide the right time to go in. Part of that calculation is, of course, the support from the u. S. And the u. S. Military specifically. And this is one chess piece that still has to get into place, and thats the uss eisenhower in this Carrier Strike group. Once thats in place, it seems like all the pieces are where they need to be, and israel america would have israels back, and well probably see that. Stuart whats the function of a secondary craft Carrier Group . Its a good question exactly where and how its going to position. Now, if that secondary craft carrier goes into the eastern med, i think that clearly gives president more options for sustained aerial operations against hamas in gaza as need be, but it could also be to keep an eye on or to do counterstrikes again