Transcripts For FBC Varney Company 20141002

Line. Widespread monitoring is inevitable. That will cost money and stream resources. Theres growing pressure to restrict travel from west africa and also to test people here when they are arrive from infected areas. That will be highly disruptive. That is why Airline Stocks fell sharply. That is why some call the bowl of the black swan event that hurts your money. Stocks down. Varney and company is about to begin. Stuart lets get straight into the ebola situation. The dow is down 70 points after a big drop yesterday, down some more at 11 00 eastern. Come on in from san diego. Erica allman safire of the Scripps Research institute helped develop the z map serum that was used to treat ebola patients. The z map ceram, is it available now and where , is it available now and whereserum , available now and where, is it e now and where is it being used . When the company gave everything they had when the outbreak broke out it has been turned over stuart you dont have any. It has all been given away. There is a keen sense of urgency and more is being produced as fast as they can do it. The Research Effort that discovers these stuart on that side of this deal but we are really intrigued about the availability of treatment of any kind, serum, virus, vaccine, whatever. There are alternate treatments, but there are doubts that given the scale of demand, we dont have the supply of treatment. Do we have a treatment problem . The outbreak is unprecedented. In those years and Ebola Outbreak is 50 people or 300 sows 6,000 has not been seen before. Would certainly concern survival is much better medical care, fluids and pain relief, control of symptoms and this has to be the focus of delivering to western africa. There arent enough beds or supplies or fluids so 750 cases are diagnosed this week in sierra leone, there are 350 beds. Stuart there is grave concern in the United States. Do we have treatment available for the cases which many people expect to arise here . That is the force of the anxiety in america, the source of the near panic. Answer that question directly head on, do we have a treatment problem . Are you any position to answer that question . You are talking to a ph. D. Molecular biologist. I dont treat patients. The current standard of care we have in abundance in america so many patients in america enjoys the luxury of the best hospitals in the world, the best doctors in the world to have enough protective supplies and fluids and treatment. Of the candidate therapeutics whether their antibodies or vaccines are being leveraged as fast as they can. Probably would not be enough for everybody in the world that needs them so we have to do the best we can and mobilize the resources that we have and focus on contain and control and delivering the best medical care we can. That alone does confer better survival. Stuart erica safire, thanks for joining us on a pressing subject, we appreciate you being here. Take a look at the dow industrials for one moment. We are down 66 points on the dow falling a whopping great big 200 point drop yesterday. Ebola is in the background. Very much in the background but very much an impact on this market place. Monica crowley is with us. When we talk about ebola we are talking about trust in government, specifically it has arrived in the dallas area. Do we have trust in the cdc when they say it wont spread and we can contain it . Our theme is trust in government. Where do you stand on this . The cdc is one of the few government institutions that had a lot of integrity and respect and confidence in the American People not unlike the irs which was supposedly nonpartisan even though people feared it. The problem is this ebola crisis is coming in the broader context of the collapse of confidence in all government institutions and the presidency to the i r as to the cdc and when you hear the head of the cdc talking about ebola and we can contain it and everything is in isolation, dont worry about it those are reassuring words but the problem is he really cant guarantee that this thing can get beyond the confines stuart when he can set off a panic by saying i dont know if we can control this. No he cant but there is an in between. We are doing our best to contain this but we dont know how many other patients may have come into the country in effect or how many people this single patient may have infected by Walking Around dallas for four days with symptoms before he was real admitted to the hospital and put in isolation so there reassurance only goes so far and we have to take upon ourselves as american citizens to be extra vigilant in being aware of what is around us. Stuart later they will say they are not there. How do we stop ebola from getting here. What we allowed to do to make sure it stays over there . The judge weighs in on this Civil Liberties question, a 11 45 this morning. Check the big board, down 58 points, openness to 16,700. The Market Indicator down 1 2 , that is the big drop. That is where the action is, under 90 a barrel last time i checked, it was 89 and had dropped to 88. That is below 90 a barrel. There is a glut and down goes the price. The price of gold virtually no change still hovering around 1,200. The ten year treasury yield, 2. 40 , came down sharply yesterday staying down in terms of yield. Ebola read dated stocks were up earlier this week pulling back just a little now. Come on and start with new link please. Much like glaxo is working on a vaccine so as they work on these vaccines it turns out they are having to close all the findings, do all the trials, do them fast, faster than you ever would have thought. This is a rush job at its best. It looks like these particular vaccines may not be available until the First Quarter of 2015. Do you know the cdc warned that the number of infections could rise up to 1. 4 Million People by early next year without treatment . 3,000, roughly 3,000 died, 6500 have been infected, 1. 4 million, humongous. Stuart we are talking the availability of treatment and vaccine. It is there . Is it available . Nicole sounds like theyre trying to get it through, they need Regulatory Approval and to do this in a safe manner and they need intended products that they want so that is what we are watching, you have other ones that run up 50 in the last three weeks, that is what we have been following and that is the story. We have a lot of names, five or six names in this group working on fighting ebola. Stuart tell me about the airlines . They were down yesterday. Any come that . Not much right there. Not a big move. Delta is up 1 2 , united continental, the infected patient flew at least in part from west africa to dallas said they are bouncing back a little bit. We were down 2 44 . Not much of a balance. Dow is down 55. Lets move to hong kong, the deadline is approaching, prodemocracy demonstrators trying to escalate their protests if their demands arent met. The deadline comes up one hour from now, midnight hong kong, 12 00 noon eastern here. Chinese authorities are warning, quote, unimaginable consequences if the crowds dont back down. So where is president obama on all of this . He is going to china. Are his hands tied because of that visit . Monica crowley still with us. A state visit to china, what can he say now . His defenders say he has such a full plate between isis and ebola that he cant possibly focus this is stuart when he has got to. Of course it is a cute story it is not getting much coverage. You are covering it on fox business but it is not getting widespread coverage. This is a major development. In 1991, at cnn square on mainland china, hundreds of thousands of chinese pouring into the streets demanding a greater voice in their politics. The communist government rolled out the tanks, remember that famous photo of the one single man. Stuart when they shot people. Unimaginable consequences they talk about in hong kong . This is what communist governments have done in the past. Does seem an imaginable they would crack down with the use of force in hong kong which until recently was a british protectorate. Now it is two systems, one country but now we know that is not workable. Very difficult to manage, hundreds of thousands of people in the street. Stuart you know hong kong. The most densely populated packed in area in the world bar none. You cant roll tanks down there. You can try that you wont have much success. There are power in numbers like we saw in cairo, same thing. If the american president cannot speak up for the voiceless, for those who are clamoring for greater freedom, what do we stand for in the United States . We are not asking the president to offer military help to these protesters but a little bit of more help from the president s and the United States will go an awful long way. He doesnt want to jeopardize his state visit in china, doesnt want to upset the trade with china. All of these are important issues. Stuart when is he scared . I would say he is afraid to take this on and stand for freedom in the same way he was afraid to stand up for the iranian people who poured into the streets in 2009, the iranian government mode those people down and the american president could muster a single word of moral support for folks who wanted greater freedom. That is our rages. Stuart thanks very much. Got to move on to president obama declaring Mission Accomplished on the economy. He says we are better off than when he took office. A big speech on that theme today coming up but are we really better off . Is that really the case . We will check for you. But first, look at this. You dont see this every day. 35,000 walruses on an alaska beach. It is very rare. Scientists say it is all because of Global Warming. All the sea ice has melted in the area so but walruses have no where to go to rest of between long trips in the ocean. That is the scientists explanation. Whatever the reason, what youre looking at is really Something Else. [ male announcer ] how did edward jones become one of the biggest Financial Services companies in the country . Hey. Yours . Not anymore. Come on in. [ male announcer ] by meeting you more than halfway. Its how edward jones makes sense of investing. Stuart the headline for what you are seeing on the screen is no bounceback after yesterdays big fall, we are down 56 points. Surprise of oil, we are at 90 a barrel. It had dropped to 80, 89 earlier, 90 right now. The National Average for a gallon of regular gas is 332, down 1 0. 02 overnight but listen to this, 26 states have at least one station where the price is below 3. I say get out there and drive, quit feeling guilty for enjoying the open road. Gas is cheap, use it. Wayfair, and it is up, 22 . Direct tv extending its sunday ticket deal with the nfl has been wildly successful. Direct tv holding its own, 87 a share. Time is money, 30 seconds worth of new numbers on drug use in america. 24. 6 Million People over the age of 12 used illicit drugs during one month last year. Marijuana the most commonly used with nearly 20 million users, 1. 5 million used cocaine. Those 24 million, 2. 2 million of them were age 1217. In 2013, 60 Million People 12 or older engage in binge drinking, that includes 1. 6 million adolescents. We are passing no judgment, just reporting what is really going on. President obama will hold an economic pat riley at a College Campus this afternoon. She says the countrys better off than when he took office. He is expected to tout his economic accomplishments like the Unemployment Rate dropping to 6. 1 . However look at some other numbers. 23 of working age people and not working or giving up working for work, no paycheck, that is a quarter of everyone age 25 to 54. No paycheck. Look at the mean the in income, down since the president took office, down 1,800 and more than 10 million food stamp recipients have been added to the welfare rolls since he took office. Peter morici is with us. We call it an economic disconnects, spin from the president , economic reality on the ground. You agree with us . Absolutely. If we look at the last five years, as the basic question. Are americans better off than they were five years into the reagan presidency, five years into the Clinton Presidency or even the george w. Bush presidency. The answer is no. This guy has proceeded over failed economic policies that are handcuffing a private sector, kowtowing to china, tying up u. S. Energy production. The list is terrible. That is why americans cant find jobs and most of those kids after the pep rally still have the same desk and will they ever have headaches when they graduate. Stuart if theres one thing this president is doing wrong in terms of economic policy, one key thing he is doing wrong, what is it . Appeasing china. The same lack of courage he is showing with regard to hong kong today, with five years with regard to china, that basic policy towards china. Is a kneeling pad. Stuart what about raising taxes, increasing regulation, encouraging that. Does that have something to do with it . They have a lot to do with it. They cleaned up the trade deficit with china and putting ourselves on a course over the next three years, they create 3 million new jobs. If you drill for oil off of the gulf you create 2 million new jobs. If you clean up the regulatory morass costs would fall so much in america everyone would be prosperous. You would swear ike was in the white house. Stuart the president is not going to do any of the above. When you get a republican sweep in the senate you are not going to completely reverse course on economic policy. Are you sayings that this economic disconnect, this misery for Middle America continues at least another two years . I believe it does, if you elect Hillary Clinton it gets worse, her program is more of the same. It is a different the tween Hillary Clinton and barack obama. She is a political mechanic of the first class, she will get even more done. It will even be worse. Stuart hold on a second. I hope you are tenured. You better be tenured. Monica crowley is still here. Peter morici lit up the idea that if Hillary Clinton wins the white house it will be worse. No change economically. I published peter at the washington times. When you look at Hillary Clintons background she is just as far left as barack obama. She dresses it up a little better and has a very pragmatic husband who tends to put the brakes on her but if she becomes president she will be the one in charge. She is not going to reverse any of the things barack obama put in place from socialized medicine through the gutting of the military. Stuart why dont you both take me on for a second. My position is there is no way you can keep a boot on the nick of american capitalism, American Private enterprise for much longer, you cant subject and suppress the Natural Instincts of american capitalism for another two years. I say we break out somehow, someway in the next couple years. Peter morici, you first. Am i totally wrong . You are not completely wrong. We are doing better than we were five years ago. We havent had the kind of recovery Ronald Reagan had. At a recession just as deep. The release is our American Companies or in asia . Making most of it in asia. America used to have the most productive Manufacturing Sector in the world. It has the most productive manufacturers but where are apple and the others building factories, ge building than in china because after all the chinese autocratic as they may be give them a better deal than barack obama does. How about that tt more freedom for capitalism in china than in Barack Obamas United States of america. Stuart fine last words for peter morici. I hope your optimism proves to be correct. I just worry if barack obama the last six years and at the end of eight will fundamentally change the character of this country. That is what i worry about. Stuart i understand everybodys point of view. Peter morici, monica, thanks very much. You have netflix adding four exclusive adam sandler movies. Our Production Team says not so sure that is a good idea. Dozens of sandlers movies were notorious bombs. My producers couldnt put them under the full screen graphic. You deal with them the next break. Mr. Daniels. Mr. Daniels. Look at this. Whats this . Clicks are off the charts. Yeah. Yoshi, were back. Yes, sir more shipping more shipping [ beeping ] no. Not exactly. To attain success, one must project success. Thats why we use fedex one rate. Their flat rate shipping. Exactly. It makes us look topnotch but we know its affordable. [ garage door opening ] [ sighs ] honey, havent i asked you to please use the we dont have a reception entrance. [ male announcer ] ship a pak via Fedex Express saver® for as low as 7. 50. [ male announcer ] ship a pak via Fedex Express saver® an Unprecedented Program arting busithat partners businesses with universities across the state. For better access to talent, cutting edge research, and state of the art facilities. And you pay no taxes for ten years. From biotech in brooklyn, to next gen energy in binghamton, to manufacturing in buffalo. Startupny has new businesses popping up across the state. See how startupny can help your business grow at startup. Ny. Gov know that chasing performance and fewer choices in retirement. Know that proper allocation could help increase returns so you can enjoy that second home sooner. Know the right Financial Planning can help you save for college and retirement. Know where you stand with pnc total insight. A new investing and Banking Experience with personalized guidance and online tools. Visit a branch, call or go online today. Stuart look at treat. It makes bell e d lighting, sales growth will fall short, not good, down she goes, 13 . It was a Charles Payne take. Here is constellation brand, a huge, on marriage that includes corot the beer and heaven knows what else, disappointing profits and sales down 2. 5 . Here is go pro, almost 6 million shares released from lockup. They sold them to provide a gift to a Charitable Organization and stock is down 10 . Now the big one. Netflix. It Just Announced it would be producing four original movies starring adam sandler. Lauren simonetti is here. I am told his movies are consistently horrible. What was netflix thinking . Okay. His last movie was horrible. I could not get through that but netflix says consistently people watch adam sandler movies, stream them on netflix. The theory could be wont go to movies to pay to see them but apparently he is a streaming hat. We dont know for how much money but netflix has signed adam sandler to make four or original movies with them. Traditional studios are paying 15 million in movies. I am not sure what you can make of that. Stuart discounted for streaming and netflix. I am told adam sandler makes movies, he accepts scripts if the movie is based in hawaii, and he can go for a couple months. That one wasnt so bad. That is 120 million at the box office. He is 48, some people have issue with that. Stuart how old is he . 48 years old. Stuart he doesnt look it. Nor does he act it but that is the point. Do you know what he said about this deal with netflix . I said yes because netflix rhymes with sweat checks. Talking to the 12yearold boy. Stuart juvenile but netflix bought him. Thanks very much. Investing in real estate. That is a big commitment. We are talking about buying something and you rent it out. That is an investment property. If you do it you hears this, Cheryl Casone is here. You are Cheryl Casone. Cheryl nice to be here. Stuart you know the best markets to buy something in and rent it out. What those markets are. Cheryl yes i am. Lets be clear. This is a three bed room hung, realty track came out to support the best market to buy a home to rented out. Number one, Rocky Mountain north carolina, you can make an average annual return of 41 on a rental home in Rocky Mountain north carolina. Avalanche doug, good return, 26 present on rental income. Indiana 24 , for the 22 . Imus in the morning knows Rocky Mountain dont you know that . A three bed room house for x dollars and you pull in a lot of rental income to give you a 41 annual return, and you will return. Cheryl annual return. These numbers actually fallen from last year because prices of gone up. Have to be picky about where you do it. Look at the numbers. The worst places to do Something Like this would be, i dont know, new york, boston, l a. Stuart no matter what rent you come back with, it doesnt make economic sense. Maria a lot of new yorkers are buying in brooklyn, that is not working anymore. The numbers dont work. Sounds good but on paper. Stuart would you want to be the landlord for three bed room home for students at Rocky Mountain . Cheryl i was a landlord for students and bartenders in arizona and i will never do it again. Stuart even for 41 return . It is a big return. Good stuff. Thanks. Sorry i interrupted you all the time. What is that . Stuart it is very unattractive. Cheryl got that British Attitude. Stuart British Attitude . Stuart cheryl what i am saying is the most important thing. Stuart that is very true. Thank you. Two story is coming up after the break. Number one, new polls on isis and why you support action in iraq and syria. And then theres the secret service and all those blunders and how once again the white house says it learned about the elevator incident from the news. Hello. You can go ahead and put your bag right here. Have a nice flight. Music plays music plays traveling can feel like one big mystery. Youre never quite sure what is coming your way. But when youve got an entire company who knows that the fewest cancellations and the most ontime flights are nothing if we cant get your things there, too. Its no wonder more People Choose delta than any other airline. Stuart 84 points lower, precisely. We are down again. The price of oil hovering. Oil is down. Look at them go down. 3 down. Working on and people love vaccine. We have new fox news pulls. 78 approval. 57 say there are american troops on the ground. Star of outnumbered on the fox news channel. The president is dragged into this by public opinion. Ices is a direct threat to the United States. When isis says they will see us in new york, they believe it. They have not revoked passports belonging to americans fighting for isis. On the other side of this, they also support round troops. They are still going at it pretty strong. The only way to stop them and stop wasting time fighting them is to get the job done. Stuart belen beals. Does your age Group Support putting american troops on the Ground Fighting a bloody war in iraq or syria . They are very emotional. They are probably against it. They do not understand the severe consequences. I think that they do not like the idea. That is not what we are talking about here. They are destroying this group before they can kill more americans. We do believe in free speech. We believe it is a pretty serious thing. Stuart that beheading and those videos, that had a big impact on your generation. I think so. I am the 9 11 generation. I was in middle school when 9 11 happened. We moved past that. The threat is still there. Stuart how about the broader theme. Trust in government. Trust in government. Where do belen beals stand on that . An alltime low. They have a lack of trust. On the other hand, they continue to vote for more government. There is a disconnect. They will have to come to terms with that. I was really surprised to see 57 of americans believe that we should put troops on the ground. I am very surprised to see that. I want to take you straight to wall street. The big board. Down 200 points yesterday. Maybe it is the black swan problem. Maybe it is slow growth all the way around the world. There is one specific reason for this. It is a selloff. Ebola anxiety. It is spreading. Question for judge napolitano. We delete, what can we do to stop this from happening again . What should we do . We cannot quarantine everyone for 21 days. When the numbers get a lot higher, if they ever do, then we would have to stop. I sure hope so. With healthcare costs, who knows. Umm. Everyone has retirement questions. So ameriprise created the exclusive confident retirement approach. Now you and your ameripise advisor. Can get the real answers you need. Start building your confident retirement today. I have 40,ney do you have in your pocket right now . 21. Could something that small make an impact on something as big as your retirement . I dont think so. Well if you start putting that towards your retirement every week and let it grow over time, for twenty to thirty years, that retirement challenge might not seem so big after all. You know your dentures can unlike natural teeth. Try new fixodent plus truefeel. This smooth formula helps keep dentures in place. Its free of flavors and colorants for a closer feeling to natural teeth. Fixodent. And forget it. Your fox business brief. Accelerated selling. Down 110 points. Market sentiment is somewhat negative. The s p 500 is down. The nasdaq is down 1 . Neutral to a by. Also, higher requirements. The stock is down 1 . A couple of analyst updates to tell you about. Twitter is higher. Pandora pulling back. Stocks are down dramatically. Your aspirations, our analytics. Your goals, our technology. Introducing synchrony financial, bringing new meaning to the word partnership. Banking. Loyalty. Analytics. Synchrony financial. Enagage with us. I have some information about the original aig bailout. Now, the heads of goldman sachs. They were discussing a possible private bailout. These two guys want to do it privately. Judge napolitano. You will want to get into this. Tesla stock is up. It is a down day. They are up. Why . It is about time. What does he mean by that . Investors like it. That is the interesting thing. Ali baba. To ebola. We now have a face with a name. , eric duncan. We also know that he took at least three different flights to get to dallas from library of. Now listen to doctor marc siegel this morning. We cannot quarantine everyone for 21 days. It will not work. When the numbers get a lot higher, if they ever do, then we will have to talk about stopping plane flight. What is the downside of checking temperatures. All right. What are we allowed to do . After i shared the first part of the sentiment, there is an a legal basis. A scientific basis for stopping flights or quarantining large groups of people at the airport. There is no legal basis. The government can, against the will of people who are in fact did, quarantine them. It cant quarantine people who are ill and the client treatment. Can you have a plan load of people. One of the people on that plane has some symptoms of ebola. You cannot quarantine anyone without any symptoms. The government has to be scrupulous. Exposure does not mean infection. Then the government could quarantine whoever was exposed. This disease is transmitted only by the transmission of bodily fluid. Stuart the authorities in dallas have told the relatives of mr. Duncan, you stay indoors. You do not go outside. Are they legally allowed to do that . Because they have done it. You and i have relatives that we have not seen in many months. If somebody wanted to challenge that governmental order, the burden would shift. Relationship is not a basis for quarantining. Exposure and infection is. Stuart i have to move on. What about a plane load of people who arrive from south africa in d. C. They could do it if they gave notice. It would be there consequential land. By getting on the plane, you accept that consequence. I think they will do it and say we do not care about what judge napolitano says. The government may do things on the side to air in the side of safety. The government will exercise a very heavy hand to keep this from spreading. Judge, thank you very much, indeed. I want to show you the big board. Session lows. Down 110 as we speak. Down 112. Of course we were down 200 yesterday. Back down below 16,700 now. The chief executive has appointed the number two official to meet with protesters. Ten minutes from now, there is a deadline. We want our democracy. We want a free choice of candidates. You better agree to it by 10 noon eastern. We are 10 minutes before the deal closes. Before that deadline. Okay. I will meet with the protesters. Not much. Back in a moment, everyone. Yo, bro, you on woowoo . Are you kidding me . Everybodys on woowoo [elevator bell rings] woowoo . Lock and load, people were going all in on woowoo mark comp us up a profile page susie write us some posts i want sponsored woos. I want targeted woos. We need an ethnically ambiguous woowoo mascot. Dude. Are you still on woowoo . Naaaahh, man, my moms on woowoo. 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Remember, all Medicare Supplement insurance plans help cover what medicare doesnt pay. And could save you in outofpocket medical costs. Call now to request your free decision guide. And learn more about the kinds of plans that will be here for you now and down the road. I have a lifetime of experience. So i know how important that is. Stuart i will introduce you to a new watch just on the market. This watch is designed specifically to allow you to put yourself on a financial budget. You can track your daily expenditures on these new watches. We are joined by nicole now. The founder. Cash smart watch. This is your company. You are putting out these watches. I am. Stuart you will sell me a watch that i strapped on the old wrist. It helps me establish a budget. That is right. There is a tremendous opportunity and educating people about money. My parents never talked to me about money. I think a lot of young people are scared. I do not think that there has been a proper tool out there. During the day, you are forgetting about certain expenses. The country is in a budget deficit. Other countries are in a budget deficit at that damage. At the end of every month, we are seeing the amount of money that people bring in. Stuart you put your own money into this. You will be blown away by the apple watch. I am not competing. If i have done that, i have created something for my customer. I wish you the best of luck. They look good. If i had one, i would use it. I am not kind of guy. I will not spend this much money. You have to give me one. Fresh news from hong kong in just a minute. A number two guy in hong kong will meet with them. We are all over this story. Ur the second hour is two minutes away. Know the right Financial Planning can help you save for college and retirement. Know where you stand with pnc total insight. A new investing and Banking Experience with personalized guidance and online tools. Visit a branch, call or go online today. Stuart it is midnight in hong kong. They will step up their protests. Do that says beijing and there will be unimaginable consequences. This is a direct clash here. Rigid control. It is a potential black swan event. It has come out of nowhere to hit you in the wallet. They do not trust their masters in beijing. Stuart what is happening there, could happen here. They could have those elections, but the people would have to be sanctioned by beijing geared wait a minute, what is happening to our freedom . Stuart you agree with doctor carson that there is a crisis in trust in government there and here. People are very anxious about their government. I do not think we want to do what hong kong is doing. We have been through this. We have institutions. Instead of people on the streets, what we need are more seats in the u. S. Senate. You have to win those elections. We have that process. That process is in place. Doctor carson said beijing is predicting who is ron. Speak to your editorial, obama was limitless government. Certainly, i am not the first person who is saying this. Nonetheless, the Obama Administration abuse of the law, the Environmental Protection agency. The recess appointments which were struck down ninenothing. This administration has taken action. They would do what they had to do and let the courts figure it out later. The republican senators ought to raise this issue and ask. What do you think the federal government cannot do . There seem to be no limits. President obama is all government all the time. It is the way he restructures so society. He wants to expand power. We settled this. We now have 50 states. Obama and the Holder Justice Department have gone out. Essentially, that has eliminated due process for accused students. Setting aside sexual abuse is bad. The legal processes that is the danger. My heart goes out to those students on the streets of hong kong. The leader says he will not submit to the students demand and resign. He will send his second in command. The clash is still imminent. My heart goes out to these students. I think to some degree, they are being trampled on. I think it is symbolically important of them. The future of democracy in hong kong. Ukraine is about self representation as well. What we represent is very much at stake on the streets of hong kong right now. Stuart president obama will speak about the economy a couple hours from now. We will hear from the president. Too Many Americans in the middleclass are not feeling the benefits. We need to have a discussion about what that recovery has looked like and what additional policies can be put in place to ensure we are doing the kinds of things that will grow our economy from the middle out. The president will stand behind his statement that the country is better off now than when he took office. 23 of working age people. People in the prime of their life. A quarter of them have given up. There is no paycheck whatsoever. The Median Income is down. More than 10 million foodstamp recipients have been added. What is the president going to highlight. What part of the economy will you challenge today . He will highlight the fact that the u. S. Economy is growing. There are those issues you have discussed. That is what they do to make the case for overspending. Look at these fox news polls. Most say that it is mostly false. Thirtysix say it is mostly true. That is why he is out there defending the performance. Thank you very much. Check the big board. Coming back a little bit. We are still down. The s p 500 is also down a bit more in percentage terms. Oil. Right around 90 a barrel. That is about eight to year low. The National Average, re dollars 0. 32. Hit the road, america. The 10 year treasury yield, 239. That means a lot of money is coming into treasuries. Oil is down. That is taking oil stocks with that, i presume. You are correct. Exxon and chevron. Two dow components that are to the downside. Right now, chevron is down three quarters of 1 . Energy, they can crush it. That sector was the worst sector for the third quarter. Today you mentioned 88. 18. Weaker manufacturing numbers and demand and oil prices coming down did. Wall street. They are buzzing about a possible docs want. If bullet is the one rattling the markets. The global unrest. Terror. You name it. What is the one on for scene event that could send us through a major correction . I have heard it from at least three traders yesterday. And Ebola Outbreak in the u. S. Stuart would you advise your clients to sell because of ebola . Making a move based on ebola. Ebola is not an issue. Stuart there is an ebola patient endowments. That is near panic, isnt it . People nonstop are going crazy. It is not an economic thing. Stuart it could be. Quarantined in hawaii. Thousands of travelers are coming back. You will probably see more cases pop up in different states. The market is controlled by institutions. There are other reasons this market is selling off. It is not ebola. A major terror event in the United States, that will shut down the market. Japan will hurt the markets. What is going on in hong kong could potentially hurt the markets. Stuart okay. After the break, congressman michael burgess. What he is hearing on the ground in texas. He is next. Hello. You can go ahead and put your bag right here. Have a nice flight. Music plays music plays traveling can feel like one big mystery. Youre never quite sure what is coming your way. But when youve got an entire company who knows that the fewest cancellations and the most ontime flights are nothing if we cant get your things there, too. Its no wonder more People Choose delta than any other airline. That i speak to one of the great highfliers. Transferring some of their shares to a Charitable Organization. A mixed bag today. Some of them are up more. Still on ebola and the anxiety. , eric duncan. He came in contact with 80 people in the dallas area, including school aged children. We know. They need to tell us. I will be 10 times more pest than i actually am. We talked to other people in the dallas area. Parents of young children. The Government Official in liberia did us all a favor. It may be a little more straightforward. I think it is what everybody needs. The relatives of mr. Duncan have been told to stay indoors. Stay inside. Do not go out until october 9 team. It is almost a lockdown situation. This is one of the unfortunate aspects about this disease. You really cannot afford zero defects in your implementation. Stuart argue in favor of restricting travel from south africa here . I would be in favor of tightening the visa aspect. Stuart would you favor testing all passengers that arrive here . Would you favor testing them at the airport. What is disturbing is used on another network had their news crew that was in monrovia. They went through some significant screening procedures with temperature taking. There seem to be very little interest to where their travel had been. Stuart what exactly do you want to see happen . The Public Health aspect is going on right now. The containment, the identification. People who may be at high risk. This is all hands on deck. It cannot be business as usual at the fda. If there are things that can be done, that needs to happen. This is not where one of those situations have been where we can afford phase one, phase two, phase three of clinical trials. Stuart thank you for joining us, sir. Appreciate it. Doctor william fisher. He was treating ebola patients. 4 00 p. M. Eastern on the fox business network. More people cutting the cord. Ditching their cable companies. Mr. Daniels. Mr. Daniels. Look at this. Whats this . Clicks are off the charts. Yeah. Yoshi, were back. Yes, sir more shipping more shipping [ beeping ] [ beeping ] your customers, our financing. Your aspirations, our analytics. Your goals, our technology. Introducing synchrony financial, bringing new meaning to the word partnership. Banking. Loyalty. Analytics. Synchrony financial. Enagage with us. Stuart look at netflix, please. They will introduce four movies starring adam sandler. Crouching tiger, hidden dragon. Look at them all go down. That is probably the direct result from Netflix Streaming the same day as the new movie arrives in theaters. A large group of cable providers realize that both they and their customers can live without some expensive tv channels. Rove told is one Company Leaving the move from this to streaming. They do not like the cable guys. They want to get rid of cable. You help them do that. Not really. The audience that we go after is a younger audience. Stuart you put it out on cable. You stream at the same time. You do what you can to get that content out to people. I think that important thing to differentiate is not cutting the cord. They are not getting the cord in the first place. The industry has to recognize where the growth is going to come from. What moves them . Music is important to them. It is social currency. They congregate around it. Music is what helps them. Stuart why are you going out over cable . It is not the way of the past. It is a wonderful system. The challenge is it is so good, it begins to get to the point where it is too expensive for a younger person to make a choice. To say cable is bad is not the best thing to do. Stuart how do you make your money . Who pays you . Cable does. Absolutely. Comcast. Time warner. Verizon beard here is the other point, all those companies are not dinosaurs. They are not just sitting around waiting. If you look at some of the innovations, hbo go, directv sunday ticket, these are ondemand consumer innovations that are really working. Stuart do you think that cable is a thing of the past . Absolutely not. First of all, lets look at it different from the music industry. They slept at the wheel when change occurred. Cable has shown innovation in the face of change. Yes, we have more digital things going on than ever before. A squeeze comes when Cable Operators have to make decisions on which content to put on. You are on this program to stay to the Cable Operators, you need me. You are on this program to maximize your revenue from the cable companies. That is the last thing you want. You want to give the best opportunity for everybody. There may be some viewers that want to cut the cord. There is also the problem of young people. Do they want to add 60 80 a month to their bill or do they want to go to netflix and other places . Stuart that is the question. Keith, thank you very much for joining us. It is rubble. Founded by sherlock holmes. What was 0. 50 real name . Chris jackson. [laughter] you had me nervous there. The Ebola Outbreak caused by Climate Change. Really . A major media outlet. Yes, Climate Change is aiding the spread of the virus. Scientists claiming that on Climate Change. We will have Climate Change stories up next. Many of my patients still clean their dentures with toothpaste. But they have to use special care in keeping the denture clean. Dentures are very different to real teeth. Theyre about 10 times softer and may have surface pores where bacteria can multiply. Polident is designed to clean dentures daily. Its unique microclean formula kills 99. 99 of odor causing bacteria and helps dissolve stains, cleaning in a better way than brushing with toothpaste. Thats why i recommend using polident. [ male announcer ] polident. Cleaner, fresher, brighter every day. [ male announcer ] polident. Know that chasing performance and fewer choices in retirement. Know that proper allocation could help increase returns so you can enjoy that second home sooner. Know the right Financial Planning can help you save for college and retirement. Know where you stand with pnc total insight. A new investing and Banking Experience with personalized guidance and online tools. Visit a branch, call or go online today. [ female announcer ] we love our smartphones. And now telcos using hp Big Data Solutions are feeling the love, too. By offering things like onthespot data upgrades an idea that reduced overcharge complaints by 98 . No matter how fast your Business Needs to adapt, if hp Big Data Solutions can keep wireless customers smiling, imagine what they can do for yours. Make it matter. Stuart down again. I dont have a particular reason but were down 84 points on the dow. That is exactly half a percent. As for the price of oil. We were below 90 buck as few minutes ago. Now 90. 31, down anyway. The trend fer 10year treasury yield is 2. 4 . Could be the black swan event that wall street has been worrying about. Could that black swan event be hong kong, isis or Something Else entirely . Joining sus scott shellady. Are you putting store on black swan events that has been the buzz on wall streets a couple days . Well you know, not really. Whole definition after black swan is something we didnt see coming. I can say we see ebola coming and how well we deal with it. We have way more things to worry about than ebola or that talk of black swan. Stuart what is pushed the dow down 200 yesterday, 80 points today . The yield on the 10year treasury is down. Oils down. What is the key mover here . The key mover is, the clothes have been taken off economy in europe. We can see how bad it is. Peoples bank of china and bank of japan trying to stimulate their slow economies. If the u. S. Slows down or signs of inflation who will throw us a life raft . The reason is we expanded Balance Sheet for no good reason. We got jobs back but not as good. Underlying economy is not doing as well as folks are thinking, and they are not retooling factories and doing that. They have taken inflation for stock prices. Were still in trouble. That is why the 10year is doing what it is doing. Youre seeing people peel out of these equities. Stuart the rational scott shellady, no black swan for him. Just the cow jacket and rationality. Thank you good. Thank you. Stuart now get this, dr. David augus, i think it is agus, a medical contributor for cbs news. Medical professor at university of southern california. He says ebola is linked to Climate Change. Here is the direct quote. We dont know exactly why there was a dramatic spread this year but something is happening now. We have multiple viruses and together with global Climate Change, things are changing in the virus world and we have to pay attention. Climate deep poet as mark murano is here with us. Mark, i say that is a stretch. That is a very tenuous connection that the good professor is trying to develop there. What say you . I say it is not a very far stretch to say they will sell carbon taxes as a way to fight ebola. This is just another, reported on cnbc. Washington post asked this. This is so outlandish, even George Soros Funded center for American Progress where they interviewed three disease experts, nope, no connection. They criticized the good doctor that you just cited and Washington Post and cnbc, for even bringing this up because they said it discredits Global Warming and makes people more suspicious of it. This is so far out of the bounds, theyre basically claiming increase in extreme weather, because, ebola seems to sheriff when you go from dry conditions to rapidpy wet conditions. That is expected under ebola. Declines trends on every single metric from tornadoes, hurricanes, floods and droughts. It is not there. The claimed extreme weather theyre pointing to spreading ebola is not materializing. Stuart look at this one, if you can, mark. I think you have a monitor so you can see this. An estimated 35,000 walruses have been spotted on a beach in northwest alaska. That is astonishing video. The green environmentalists claim the ice they have been sitting on melted because of Global Warming. That is why 35,000 of those walruses are on the beach. What do you make of that one . Yeah, this is story that has literally been recycled annually since at least 2007. And i just talked to a seologist, dr. Susan crawford this is quote, blatant nonsense. This is exactly what walruses. Theyre called haulouts. A few years ago they had one 40,000. They said 50 walruses were stampeded to death, in reality, in 2007, there were 3,000 were stampeded to death. This is normally happens. The stampeded walruses get eaten by polar bears. Up to almost 100 polar bears feeding off carcasses of these dead walruses. If concerned about the polar bear let walruses natural congregate. This is no story. Arctic ice made a significant recovery from a few years ago. That is the not issue. The other thing, walruses tend to mike great away from the ice in the fall so they wouldnt be heading toward the ice anyway this is complete spun story bit media with no actual facts relating to walruses, a normal event. Stuart last one real fast. Do you see any suggestion that the intellectual tide is changing . Used to be that there was no question about it, we got Climate Change and were all in deep trouble. Is there a retreat from that position yet . Well, what has happened, maybe opposite. Getting more extreme. Were gone 18 years with no Global Warming according to satellite data. Studies say they increase in rape and barroom fights, vehicle thefts, prostitution. More airline turbulence. Theyre just getting more and more absurd with the claims of Global Warming and tying it to ebola. Just other day isis was created by Global Warming because of Drought Conditions created extremist ideology. They just wont stop. They keep coming and coming with more and more absurd claims. Stuart mark murano, climate deet poet. Thanks, mark. Thank you. Stuart john stossel. He says ignore what you think. Were actually safer now than we were years ago. Safer. Question for john stossel, does he agree with the judge. The only way to stop a crazy person determined to kill is to shoot the person. Stuart take away opportunity from them for shooting all you do is delay the inevitable. When the public is armed, the crazy people will stop shooting because they will be dead. 3rd and 3. 58 seconds on the clock, what am i thinking about . Foreign markets. Asian debt that recognizes the shift in the global economy. You know, the kind that capitalizes on diversity across the credit spectrum and gets exposure to frontier and emerging markets. If you convert 4quarter p e of the s p 500, its yield is doing a lot better. If youve had to become your own investment expert, maybe its time for bny mellon, a different kind of wealth manager. And black swans are unpredictable. Imnicole petallides with your fox business brief. Dow jones industrial average is to the downside but off the lows of the day. It had been down 130 points right now. Down about 80. 16,724. The s p 500 down over half a percent and nasdaq composite down 3 4 of 1 . The dow losers include disney, intel, caterpillar, United Technologies and visa. United technologies down 1 . Constellation brand came out with the numbers. They missed estimates with their profit. They also cut the forecast boeing forward for free cash flow. They sell corona and modell low beer. They did recalls as well. Test last, what is going on with tesla. The stock is higher. Elon musk tweeted out, time to unveil the d in Something Else. What . Nobody knows what the d or the Something Else is. That will be october 9th. He is certainly building hype up for that. More fox business coming up. We asked people a question, how much money do you think youll need when you retire . Then we gave each person a ribbon to show how many years that amount might last. I was trying to, like, pull it a little further. [ woman ] got me to 70 years old. Im going have to rethink this thing. Its hard to imagin how much well need for a retirement that could last 3years or mor so maybe we need to approach things dferently, if we want to be ready for a longer retirement. Stuart hey, try this. News from crieser is, jeff flock is here. What is this about an aluminum jeep raping letter . Oh, maybe youre going to love it, stuart. Sergio marchionne any thinks you might. Paris auto show, a big auto show he told reporters theyre seriously considering the making iconic Jeep Wrangler out of aluminum. That would be the 2017 wrangler. He said up to now lets not mess with the iconic vehicle. Apparently he is coming around. This comes one day after mark royce, the head of Global Product Development for gm said, i dont think aluminum is the answer going forward. Maybe some mixture of aluminum but i dont think that is the answer. So this is settings up a real sort of interesting kind of battle between the different automakers. Obviously the f150 truck as weve seen on your broadcast, all aluminum. That is the way theyre headed. So interesting stuff. Stuart it sure is. Is aluminum metal of future for cars or not . We shall see. Jeff, good stuff. Thank you very much. Much. This is a bombshell. This is a big deal. Government pensions, state worker pensions, they are not untouchable. At least in california. Liz macdonald has bombshell news. Go. A federal bankruptcy judge is taking it right to the State Government worker pension. It is called calpers. It was explosive hearing yesterday, the judge in the hearing said, wait a second, the federal government can break contracts between government pensions and cities, basically because they are not, they dont have exclusive positioning in a bankruptcy. So they can be treated like debt just as any other creditor. Stuart so the state Worker Pension Fund are not doing well. State government, some, they want to cut them. They have gone to court saying you cant cut those pensions. The judge says, yes you can. Yes you can. You can cut them. You can break contracts with them. The judge also saying you know what . You, the cities in california, you can go to insurers and get your retirement plans. You dont have to use a statebacked plan. Socal percent is reeling from this. And what this means is, the judge could decide by october 30, that, yes, stockton does not have to abide by Calpers Pension plan that doesnt owe any money into the Calpers Pension plan. Stuart, this matters for other cities in california teetering on the brink of insolvency. Here is the map. Oakland, san jose, these cities are likely closely watching the decision here. The federal judge is also saying, to calpers, you know what . California state law does not take precedence over federal law, the supremacy law of the constitution says. That he is really sticking it to calpers. Stuart stick it to the state pensions, that is what he is doing. You can cut them. He is saying what you cant mess with government pensions . Are government pensions a state unto themselves . Is is ridiculing them and giving them a hard time. Well watch the ruling when it comes in. Stuart it is a big deal. Its a big deal. Stuart thanks, liz. Sure. Stuart crime rates down in recent decades but gun ownership we hear, tripled since the 1950s. Is there a connection, crime down, guns up . Stossel has that as his topic this week for his show tonight. Do you go along with that . Yeah. Stuart more guns, less crime . Definitely, that is the title of the book of one of my guests but in the last seven years concealed carry permits, which used to horrify me because i grew up in antiguntowns because they have tripled and crime goes down. It has gone down more in places that passed these laws allowing people to carry. Stuart that is what the judge said yesterday or several days on this program. If you just had more guns out there, you would have less crime. I once asked al sharpton, oh, he said there would be blood in the streets. That is actually the law in most of the country. He didnt know at the time. There has been less crime. The crook, is afraid to rob someone if he thinks he might be packing. Stuart in england where handguns are not allowed, cant have one. And canada. In england i know a fact rate of property crime, young toughs bursting into a into your house. Stuart into your house, that is five times higher in england that it is in the United States because here, you dont know whether the homeowner is sitting there package gun. You just dont know that. 13 home invasions here. More than half in britain and canada. Stuart ouch. One more for you. Fame must celebrities, matt damon springs to mind, Sylvester Stallone, theyre very antigun. All the mass shootings. Well not put them in our movies anymore. And they do. Stuart anymore . They have made a fortune out of putting guns in movie. They make these statements. Like Sylvester Stallone made expendables, grudge match and bullet to the head. Stuart bullet toed head. Where do these people live . They live in gate the communities, dont they. And and have armed bodyguards. Stuart john stossel is provocative and provocative ever on your show that airs at . 9 00. Stuart and it is called . Stossel. The topic, is it a mean, mean world . No, the world is better despite ebola and isis. Stuart there is a good premise for a show. Very watchable. Fewer people dieing in horrible ways. Stuart which network is it on . Fox business, what are we watching here . Stuart just trying to get at that rise out of you. Thanks so much, john. Up next a special my take for you and why im telling you to get out there and drive. Yo, bro, you on woowoo . Are you kidding me . Everybodys on woowoo [elevator bell rings] woowoo . Lock and load, people were going all in on woowoo mark comp us up a profile page susie write us some posts i want sponsored woos. I want targeted woos. We need an ethnically ambiguous woowoo mascot. Dude. Are you still on woowoo . Naaaahh, man, my moms on woowoo. Hello. You can go ahead and have a nice flight. Re. Music plays music plays traveling can feel like one big mystery. Youre never quite sure what is coming your way. But when youve got an entire company who knows that the fewest cancellations and the most ontime flights are nothing if we cant get your things there, too. Its no wonder more People Choose delta than any other airline. Crisis after crisis. Cover the obama plan to keep those border kids. President obama ordering a Refugee Status program for children from honduras, guatemala, el salavador who made up this summers border crisis. Well have expert testimony tonight. Joins us for that, much more, 7 00 p. M. Eastern, 4 00 pacific. [applause] stuart picture this, look at it. Ohio state student, he ran on the field. You can see him there, tackled, kind of victims slammed by an assistant coach, ran on the field. He was knocked out. Got it. The university is in process of pulling his scholarship. Wonder is fourth year engineering student. Dont run on the field. Plies price of aisle, that is mover today. Was down to 88 bucks a barrel, back to 90 right now. That is hurting big oil companies. Their stock price down almost across the board. National average price for regular gas, that is coming down. 3. 32 is the National Average. That is down a halfcent overnight. Now as an an i am my to america, i have some ad tries for the nativeborn immigrant. Get out there and drive. Yes, drive. Get behind the wheel, and go see this huge country in all its fall glory. Drive. You know, not used to hearing that, are you . For two generations youve been told gas was in short supply, oil was running out, cars pollute, the oceans are rising, the climate is changing and you better stay home. Buy one of those tiny, europeanstyle compacts and pack yourself in to save gas. Go hollywood. Get a tesla. But above all, you should conserve, restrict, and feel guilty. Enough the price of gas is falling. Enjoy it. We have enormous supplies of oil under our own feet. Drill for it your vehicle gets better mileage than ever. So drive. Can we be americans again . Can we stop apologizing to the elites for enjoying the simple american pleasure of driving the open road . I think we can. And i think we should. The time is right for change. No more pseudo european. Lets be real americans. Driving on the best road system in the world when folks think about what they get from alaska, they think salmon and energy. But the energy bp produces up here creates Something Else as well jobs all over america. Engineering and innovation jobs. Advanced Safety Systems technology. Shipping and manufacturing. Across the United States, bp supports more than a quarter million jobs. When we set up operation in one part of the country, people in other parts go to work. Thats not a coincidence. Its one more part of our commitment to america. Your customers, our financing. Your aspirations, our analytics. Your goals, our technology. Introducing synchrony financial, bringing new meaning to the word partnership. Banking. Loyalty. Analytics. Synchrony financial. Enagage with us. Exxon, the major oil company, says ebola is restricting its operations in west africa. That is why exxon is down 0. 17. The price of oil was 88, now is back to 90 a barrel. Exxon says it, coming right out there. Ebola is affecting its operations, drilling for oil in west africa. That is it for me. Here is dierdre bolton. Dierdre hong kong in turmoil. We will tell you how technology is changing the game in a standoff between china and the student protesters. Google dominates the 120 billion Global Digital at market, facebook is challenging that position and baseball superstar derek jeter says he is going to take his talents from the diamond to the tech world. More than one week of streets filled in hong kong students demanded the citys leader stepped down. About an hour ago he held a press conference and said he will not resign. Also warned students of serious consequences if they storm government buildings. David piper is in asia, joining us from bangkok. Is there a possibility of a br