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tv   Mornings With Maria Bartiromo  FOX Business  November 5, 2021 6:00am-9:01am EDT

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if you like your luxury mixed with the great outdoors, adventure, five-star dining and legendary art scene, no place to go but seattle. ♪♪ and you don't have to follow the maria: good friday morning, everyone. thanks for joining us. friday november 5th. special prosecutor john durham closes in arresting a third person in the origins of the trump collusion narrative but what happens next will be even more critical in getting to the origins of this trump-russia collusion lie because that source fezzed up to lying to the fbi on january 2017 as i have
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reported many times, told the fbi during 3-day interview right after trump's inauguration that the dossier was all made up yet the fbi still renewed fisa warrants to wiretap trump campaign as told last year. >> the fbi knew it and did 40-page memo and the fbi continue today lie to the court and somebody needs to go to jail. maria: the dossier was paid for the clinton campaign and based on notes from john durham, john brennan, rather, we know that hillary was trying to tie trump to russia scandal. house scrambling to bring
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package to the floor even though she does not have the votes. the fighting focusing on the cap hanging in the balance. markets fractionally higher ahead of october job's report. the dow industrials up 16, s&p 500 up 10 and nasdaq up higher by 77. new record setting streak yesterday. nasdaq and s&p finishing in record territory for a sixth straight session. european market this is morning look like this. edging higher in the euro zone, ftse 100 right now in london is up 34, the cac up 24 and dax index higher by 20 points. overnight in asia, checked markets there. red aceo the board. hong kong worst performer. morning live right now.
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♪ ♪ ♪ maria: now top stories that we are watching this morning, so it is true, a presidential flip-flop on paying illegal migrants separated at the border using your tax dollars. watch this. >> you guys keep sending that garbage out but it's not true. >> the president is comfortable the department of justice settling with the individuals. maria: so there you go, the white house deputy secretary kareen force today clean up president's comments and admit that the u.s. is, in fact, considering sending $450,000 ahead of migrants who broke the law and were separated at the border because they did so. the president initially called the report garbage but earlier
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this week aclu immediately played cleanup there saying the deal is likely and, in fact, we will be paying $1 million to families who came and broke the law into america. meanwhile the president making vaccine mandate official yesterday. millions of americans workers could be out of a job right after the holiday. companies will lead to ensure that their employees are vaccinated by january 4th the president says, or comply with weekly testing. impact to 80 million americans. fines up to 14,000 or 137,000 for repeated willful violations according to white house. reaching a shareholder settlement. the plane makers failed to properly oversee safety matters
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related to the jet. appointed board member with aviation safety. the settlement not to include admission of wrongdoing. futures are edging higher ahead of the october job's report, now it is all about the macro story with the job's report out this morning. we will have the numbers for you in the 8:00 a.m. hour and all hands on deck for this program as we look at the prospects. the expectations call for 450,000 jobs added to the economy in last month with unemployment rate kicking 4.7%. joining me wealth consultant ceo jamilee and joining the conversation all morning long fox business dagen mcdowell and nancy tengler. great to see everybody that morning, thank you so much for being here. jimmy, kicking things off with you. what are you expecting from the job's report and what's priced into this market? >> morning, maria. i would expect a good report
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today and i think the job market is very strong. all of the business owners that i'm friends with and talk to on a regular basis are hiring and whether it's small businesses or big businesses we are seeing reports that companies are adding lots of people and, you know, the market is kind of tight so i think wages are higher than what we have had in the past which will affect inflation numbers as well but i think the stock market is priced in as strong job's market as well as, you know, i know there were a lot of people out there who were expecting a correction that hasn't materialized and i sound like a broken record but i'm still an equity bold but i think it's tough to fight the fed even though we will get taper, there's stimulus with low rates and i see stocks going higher and the opening stocks hitting new highs. maria: well, listen, we have been seeing pretty good earnings that's for sure and you're seeing third-quarter results
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beat expectations and not peloton, peloton stock is plummeting but when you look broadly speaking the supply chain issues haven't been that big of a issue for the broader averages. peloton, however, says that even as the country opens up and people are heading back to in-person gyms, they are a taking a hit, 30% haircut on peloton interactive this morning, jimmy. your reaction to overall earning story and if you have a word on peloton as well as we approach to earning season here? >> well, earnings have been robust. over 80% of companies beating expectations so far and big percentage on the top line so earnings have really supported the high valuation that is we have in the stock market. now with peloton and other names that are historically trading at very high valuations i've been very conscious of those names all year long and i've been warning investors about that and that's not pile in on that trade and so like i said, i still
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think it's not too late to get into some of the sectors that will benefit from a rising rate environment that we will see in the future such as energy and financials. we recently added to our models, into those sectors but also the sectors that benefit from the economy being open and i'm a little less longer term inflation and i feel that a lot of things have to happen to get good growth beyond 2022. for now, i think the stock market is going to continue to see new highs and the people who have been betting against that. i feel bad for them. maria: well, even as the federal reserve begins tapering programs, jimmy, because they have announced and confirmed what we were all expecting that the tapering begins later this month. reports also show that chairman jay powell was visiting the white house yesterday. we are awaiting on president biden's news and whether or not he will renominate the chairman
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for the next term. powell's current term is set to expire in february. what's your betting there. a lot of progressives want him out. >> my guess is that he probably ends up staying and i think the, you know, the president and the white house obviously want the economy to do well and the stock market to do well and i think this has been an accommodative fed and we will see tapering, $15 million less per month is not a big deal. we still have a lot of stimulus pushing the market higher as the congress -- the house is voting on infrastructure and spending bills today. we will get more money out there and more liquidity. this is definitely a liquidity-driven market. i think you have to watch out for some of those names as you've already mentioned that have high valuations. i think the overall market can be subject to a correction as well but overall i would view as buying opportunities. i think the consumer is very strong.
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hopefully the supply situation corrects itself so that people can spend and that we have a good holiday spending season, retail numbers are high because i think consumer confidence will continue to get better as more people get into the workforce. we've been trying to hire at our firm and we are starting to see more candidates that have been unemployed applying for jobs which is a gad sign but -- and also we have been in competition for people because employers are much more flexible by letting people work from home and i think employees have a little bit, you know, bargaining power. i think wages, we have to watch wages to make sure that we don't see too much inflation there too quickly. maria: yeah, all great points, jimmy, good to catch up with you, thanks very much. >> thank you, maria. maria: all right, jimmy lee joining us there. we are just getting started. big show, coming up nancy pelosi trying to ram through a vote on both infrastructure and the social spending bills. what the spending bill is likely dead on arrival in the senate.
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what is possible before your end? and then the supply chain grinch comes for christmas but robots can save the holidays. we will take you on amazon ahead of the rush. we've got our full team cover starting at 8:00 a.m., don't miss all hands on deck as we receive where the jobs are today in america. you're watching mornings with maria live on fox business. stay with us.
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maria: welcome back, president biden's vaccine mandate can have a devastating crisis in the border crisis. 48% of agents have not responded to the vaccine reporting mandate. if all of those agents have not gotten their covid shot, the agency will be forced to let 59% of those people on patrol go. joining me right now texas congressman house small business committee vice ranking member and house financial services committee member roger williams. congressman, great to see you this morning. i will tell you, congressman, this goes from bad to worse. assess what we are hearing now about the vaccine mandate that the president wants everybody, all of these companies, 101 employees or more to make sure that they're vaccinated by early january, what does that mean? terms of the texas border and other first responders? >> well, i mean, you go to the border now and the border patrol is overwhelmed and you think about reducing them by half.
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it's pretty unbelievable that we have the caravans coming up from south america along with the others that are coming up and it's recipe for even more than failure, so it's a disaster and you take the economy, small businesses are having to meet the same standard and they are not going to want to do it and many aren't going to want to do it. maria: what's your thoughts on the mandate and all of this impact on the economy with so many first responders quitting? it's not just the border agents, congressman, it's cops, troopers, firefighters, pilots, nurses. first of all, the mandate is wrong, it should be individual decisions. i think we all agree with that, but it's going to really hurt the economy, i mean, look, we have a lot of people who aren't working and you will have a lot more. many that want to work will not be able to work.
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small businesses that hire the people will not be able to sell the product and so forth and they will be struggling to make margins as we come into the holiday season all of the time that this promise of $450,000 come to illegals. imagine, maria, businesses in america don't even make near that and to make $450,000 net in small businesses is really, really hard. it's a horrible -- it's a horrible situation we are developing. we are going to have people in here that don't have vaccinations yet we are asking our border patrol, for example, to be vaccinated so you can come in here with no vaccination and you come here and break law and get $450,000. i don't think that's the economy or america that we want. maria: it's just extraordinary that they are actually going to do this. the doj clearly thinking about this, that they want to pay $450,000 per head for people who broke the law but i have to get your take on what is going on
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with the spending package because it feels like no matter what happens, you heard voters speak this week. you had a red wave across the country. obviously including virginia and democrats are still scrambling to get a vet on the two bills, the infrastructure and the house spending bills. speaker nancy pelosi says that she wants to take them beth up today. what is your take on this and how -- how reliable do you think that is? are you expecting a vote despite what happened this week? >> i guess. she tells us that every other day we will have a vote. i don't think they have the votes. i think that you go back to virginia the other night and tells everybody that america is kind of fed up with the socialistic agenda that they are trying to shove through. politically to me it's not even a good move but let's vote on it and let's get it out there. we know it's going to fail in the senate and get on with it,
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but they have politically they have an agenda that america doesn't want. we saw that the other night even in new jersey and denver school boards and all this. americans are beginning to take america back over again from the socialistic inside that these people want to perpetrate down our throats. here we are this morning, we will vote on it, haven't been seen, vice president been scored, nothing. i think it's doom for failure. it needs to be because when you saw the 85,000 irs agent that is go across mainstream america and how to pay for it, that's going to devastate the economy too. maria: yeah. well, it's almost as if they are completely ignoring what the voters told them this week including the victory of glenn youngkin in virginia. he joined me on the program yesterday. here is what he said. >> i think that just reflects the fact that the kitchen table issues of low taxes and grade schools and safe communities and oh by the way a growing economy
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with job opportunities, these kitchen-table issues had been pushed to the background and voters in virginia said no, no, these are the most important topics for us. maria: well, they certainly aren't the most important topics for nancy pelosi and the house democrats, congressman? congressman: well, it's not. that's a good thing. it's probably a good thing for america because we will get it out and they will try to pass legislation that americans don't want. we will begin to get back to what america is about, lower tax, less government, cut spending, defending borders and that's what the american people want. good schools and also we found out that don't mess with the baby bears, right, we found that out too. that's interesting that the issues that brought america back in schools as it should be. maria: do you think the house democrats will vote for salt deduction, higher on cap
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deduction? >> i don't think so. they are trying to help the wealthy. we will see. they talk through both sides of their mouth. maria: congressman, good to see you this morning. congressman roger williams this morning in washington. stay with us, we will be right back.
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maria: welcome back. now to the big lie of russia collusion. the primary sub source for the steele dossier, igor was arrested yesterday, special counsel charging him for 5 counts from the fbi. third arrest in durham's probe. shanko fessed up to the fbi back in january of 2017 that he made it up, the content of the dossier were made up. we reported this at the time when lindsey graham declassified those documents in 2020.
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here is the senator. >> the russian sub source was on the payroll of christopher steele and had a working relationship with the brookings institute and we have learned from the memo that we declassified that the russian sub source who was american-based not russian-based told christopher steele, here is what i've got, far talk, rumor, it's not really reliable and what did christopher steele do with that? he turned into a novel and sold it to the fbi, and they sold to the pfizer court to get a warrant against carter page and on january 2017 when they found the russian sub-source who was in the united states he disavowed the dossier as being reliable. the fbi knew it and did a 40-page memo but the fbi continued to lie to the court getting new warrants based on the dossier in april and june of 2017 after they knew it was a
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bunch of garbage they continued to use it anyway. somebody needs to go to jail. maria: so the question becomes what does john durham do next as i reported the dossier was funded by the hillary clinton campaign and her law firm during the 2016 presidential election. it was used by the fbi to justify the pfizer surveillance warrants on her political opponent the trump campaign and donald trump. dagen, we've talked to about this so many times and i've reported it, the truth for for several years now. i would love to see what adam schiff has to say for all of this because remember all of those years in 2018, 2019 and '20, he was going on sunday talk shows saying that collusion is in plain sight. he was on the intelligence committee. he knew otherwise. dagen: he was lying to the american people. what did james clapper and john brennan have to say about this or the reporters at media organizations across the country some of whom actually won
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pulitzer prizes for their coverage of it's a lie? and this is on -- this is how important it is, it's on the cover of the new york post. this is the top story where everything going on in the world and includes editorial by andy mccarthy. andy wrote a book about it called ball of collusion and he just sums it up as you just did. john durham's charging instruments suggest the clinton campaign used its agent to peddle the trump-russia rumors to the government and the media. then they used the fact that president trump was being investigated as part of its campaign messaging. this is one of the biggest political scandals in u.s. history. the question is where does john durham go from here. would there be more indictments? there sure hell should be. maria: more likely that there
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will be. nancy tengler you have been here and unfortunately this whole thing was successful in getting half of america to actually believe that there was some collusion going on with russia and donald trump. that's unfortunate and it is on the democrats that really have yet to come clean on all of this including like i said adam schiff and jerry nadler. >> yeah, well, maria, where is your pulitzer? i find this shocking that you have a lawyer for the clinton campaign lying to the fbi. i mean, to me our system really works if people tell the truth and we have to make assumptions that under oath lawyers in particular will tell the truth. so i hope this continues. it's taken an awfully long time but we need to get to the bottom of it and dagen makes a good point. it permeated the entire government at the time,
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terrible, shocking. maria: yeah. it sure did because they floated the dossier throughout the fbi, the cia and the state department. we will keep following it, we will be right back.
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maria: welcome back, good friday morning, everybody. thanks so much for joining us. i'm maria bartiromo, and it is friday november 5th, look at market this is half an hour where futures are edging higher ahead of the job's report that's out in two hour's time. the s&p 500 up 10 and the nasdaq higher by 81. stocks extending record-setting streak yesterday. the nasdaq and the s&p 500 both finished in unchartered territory for a sixth straight day. we begin today's trading session at all-time highs for the nasdaq and the s&p 500. european markets this morning also higher, ftse 100 this morning in london is up 30 points, cac up 20 points and the dax index is higher by 6. in asia red across the board.
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hang seng index down about 1 and a half percent on the session. back in the u.s. senator rand paul going head to head with drn another fiery hearing. cheryl casone now with the details there. cheryl: that's right, the senator accusing the doctor of falsie denying the gain of function research at the wuhan institute of virology. >> you're simply saying it doesn't exist because you changed the definition on the nih website. this is terrible and you're completely trying to escape the idea that we should do something about trying to prevent a pandemic from leaking from a lab and what you've done is changed the definition on your website to try to cover your ass. maria. cheryl: well, the two sparred last summer over the same issue. rand paul calling for fauci to resign. well, uber reporting a net loss
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of $2.4 billion for the third quarter. this was mostly driven by a drop in value of the holding in chinese right service didi, revenue is up 71% from last year and the company saying consumers and drivers rushed to platform in greater numbers last quarter. uber slightly down this morning. air b and b profits are soaring, profits rose 280%. the surge coming as the economy continues to recover from the effects of covid-19 and we have seen big increase in travel. more than 79.7 million nights and experiences were booked in a quarter. jump of 29% year over year. there's air b&b in the premarket. stock is up almost 6% right now. finally this, turn of events for sky divers in south africa as plane lost control and they were about to jump out. one sky diver shows the video the aircraft stalls and loses control and luckily the aircraft
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had 5 sky divers on board was able to recover. all of those who jumped did land safely, maria. reason number 55i will never sky dive ever in my life. [laughter] maria: 55, cheryl that was good. okay, i'm glad that everybody is safe. wow, thank you so much cheryl casone. white house deputy secretary walking back president biden's comments paying separated migrants at the border $450,000 each. >> there were reports that were surfacing that your administration is planning to pay illegal immigrants who were separated from their families at the border up to $450,000 each possibly a million dollars per family. do you think that that might incentivize more people to come over illegally? >> if you guys keep sending that garbage out, yes, but it's in the true. >> the president is perfectly
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confidently with the department of justice settling with the individuals and families who are currently in litigation with the u.s. government. maria: okay, so perfectly comfortable. claiming that the president was reacting to the dollar figure mentioned by fox peter doocy as aclu says a deal like this is on the table, that the u.s. will pay migrants who illegally crossed a million dollars per family. new york post columnist and fox news contributor miranda divine has written extensively about this. she joins me right now. miranda, great to see you, thank you very much for being here. >> good morning, maria. thanks for having me. maria: so your reaction now? we are pretty much getting an admission, right? you just heard kareen at the white house press podium saying that the president is comfortable with the doj doing this. >> well, i mean, it's the ultimate -- it's completely
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obtainable to have the president mislead the american people about the policy, this 450,000-dollar per migrant policy that the administration is undertaking and the idea that he didn't know it is hard to stomach, but, you know, he has plausible deniability because the money figure wasn't exactly correct. maybe it's 460,000 or 420,000. that is just not good enough. you cannot have -- the president misled the american people and the next day the white house walked it back and most people hear what the president said and not the walk-back and joe biden knew when he was asked by the question by peter doocy that the policies are toxic to most americans. he knew that -- that part of
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that is because it's a toxic policy which is a magnet to other illegal aliens and we already have enough bad problem as it is and we know that he lost this policy because it makes donald trump look bad and that seems to be the driving force of his presidency. maria: well, you know, you mick a good point because i think that's what this is all about. let's muddy up the situation and just act as if we are doing something to correct donald trump. we have to pay a million dollars per family. we have to pay $450,000 per head because donald trump screwed up the border. i mean, isn't that an easy way to just get the whole issue of this broken border off of his lap and you mention the lies, miranda, i mean, we are getting used to it now. he's lying every day, the border is closed. no it's not. the spending package cost nothing, no, it doesn't. the voting laws in georgia are
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jim crow, no they're not. i mean, over and over again we are hearing lies from the commander in chief, how are we supposed to look at that? >> well, and remember the border security guys on horseback were races. these lies. his very first day in office in his inauguration address he talked about domestic terrorists and white supremacists and -- and put that overlay which was completely uncalled for over the january 6th capital riots which had everything to the with the election being rigged and nothing to do with white supremacy or anything else to do with race but he did that deliberately. that is the big lie and he continues and i think that it should be really be no surprise for anyone who has been a student of joe biden his entire career. i mean, he's plaguerist and i'm
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not sure he can distinguish truth from fiction but that doesn't get him off the hook. because he's cognitive failing now, he knows enough to know that this policy of paying migrants $450,000 for breaking the law is happening and he deliberately misled because after an election when we got -- his party got a complete pushback on all the policies, he knew that that policy was not going to be palatable. maria: and even while the devastation of this wide open border policy is in our face, a 24-year-old honduran illegal migrant has been charged for murder after entering the united states illegally, he was 24
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arrested in florida for killing the father of four who took him in. the new york post reporting authorities later found out he told border agents earlier this year he was 17. he was not turned away from the border because of the biden policy for unaccompanied minors and was instead placed in a shelter and given the notice the appear before being released into the country, miranda, what else can you tell us about this story? terms of this 24-year-old murdering a father of 4 and you said that this is a big lie of january 6th. i would say the big lie is the russia collusion which also joe biden was involved with and adam schiff told us that collusion was in plain sight. so far we are not seeing a lot of accountability because they keep coming up with ways to hide their lies and deceit of the american people. >> well, it has to be said that they are not held to account by half at least media so they lie and they get away with it and,
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in fact, the media helps them with those lies and willfully naive and swallows what is told by the deep state of the intelligence community and so on. the story about the 24-year-old honduran who has allegedly viciously stabbed to death a man, a sponsor who had taken him in, it's what we would expect when you're allowing millions of illegal aliens across the border and then secretly in the dead of night flying them all around the country without telling anybody in the communities to which you're secreting them what's going on. you don't tell the schools, you don't tell the police, you don't tell authorities, local politicians and we found that after we reported on these flights coming to westchester, they stopped after we reported it and what this means is scrutiny and transparency because this is not what the administration wants and there's going to be thousands of these tragedies around the country and
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i just know that he was 24 year's old and that accords with what we saw at westchester, at least half of the passengers getting off the planes and look to men in 20's and hhs, dhs and the white house told us that they were children. maria: yeah. miranda, you did such great work on that story. thanks for breaking it. the fact that they were traveling in private jets to westchester. we reported a bit on that as well. we were happy that you had the story. miranda, good to see you this morning. miranda divine from the new york post. we will be right back. stay with us. ♪ ♪ ♪ ee
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maria: welcome back, making new york city the center of the crypto industry, how mayor elect eric adams is embracing bitcoin. what it says about the future of the digital asset and new york, we will be right back in two-minute's time.
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maria: welcome back, income new york city mayor eric adams vowing to take first three paychecks in bitcoin. he tweeted yesterday, new york city is going to be the center of the crypto currency industry. this follows miami mayor francis suárez saying he would take his next paycheck in bitcoin. a bit of competition over bitcoin paychecks. joining us right now bitcoin philanthropist brock pierce. thank you very much for being
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here. >> good morning, great to see you as well. maria: i want to see ha you're hearing at the foundation but first give us your reaction of new york and the mayor of miami as well as new york, incoming mayor saying that they want their paychecks in bitcoin? what are they trying to message out here? >> i think they are saying that their cities are embracing the future and remember the future favors the bold. i'm really happy to see real leadership in the country because a lot of the problems that we see in the world today are problems that stem from the 20th century and the answer to solving those challenges come from innovation in the 21st century. i'm happy to see leadership -- i'm ecstatic to see it. maria: you know, brock, we talked about the impact of this and, you know, i want you to really walk us through how significant this is because we saw a situation in el salvador
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where it was a game-changer, right, when el salvador became among the first to say, we are turning into a digital economy, we are moving toward bitcoin. walk us through what happened in el salvador and whether or not you could see that kind of a game change from what you're hearing in new york and miami. >> absolutely. it's worth taking a look at one of the big challenges in the world. most of us don't realize it but 4 to 4 and a half billion people in the world are on or underbanked. they don't have the basic service financials that we have and often take for granted. take el salvador, 30% of the population had a bank account or access to financial services intelligence recently. the government of el salvador president said we are going to make bitcoin legal tender or legal currency. on september 7th that -- that became law.
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within 30 days of that event occurring over 50% of the population had downloaded this new banking system. this bitcoin wallet, it's now up to 70% in a matter of a couple of months in under 3 months so 70% of the population didn't have a bank account, now 70% of the population has the equivalent of a bank account with a better fee structure. this is something that we have talked about for years. no one has ever been able to put a dent in it and bitcoin was the answer. maria: i love looking at the el salvador analysis because it's so striking. so, brock, how big can this get in places like new york and miami? i know you've been spending a lot of time in central america and you're coming up with your own policy ideas right now. but zero in on technology as a tool in miami and in new york, how big might it get, brock? >> i think it's huge. remember, we are trying to create a world that can work for
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everyone. you know, something that raises the bottom higher, rising tides raise all ships. in new york city there's a lot of things that can happen. obviously a year and a half -- very difficult year and a half that we all lived through and we build systems, how do we create a world that can work for everyone, i'm incredibly excited about what can be done in new york and i think that eric adams and his leadership likely seen in el salvador or mayor suárez in miami, they are the one that is will lead us into the future and take us into the 21st century. maria: sure. and they are making the statement already with their paychecks. brock, great to catch up, come back. book pierce. we will be right back. ♪ ♪ ♪
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maria: welcome back. it is time for the morning buzz and this sunday marks it return of the new york city marathon, 50th anniversary resident runner and athlete cheryl casone has a closer look at this iconic race. cheryl: how it started versus how it's going. the big apple gearing up for the 50th anniversary of the new york city marathon this sunday. the tradition started in 1970 with only 127 runners including 18-year-old joe visiting new york for the first time. >> for some reason we came together that day and we decided running a marathon in central park was a good idea. crossing finish line i felt like i accomplished something. cheryl: the marathon became international event drawing some of the best athletes from around the world. in 2001 the race brought people
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together just two months after the deadly september 11th attacks proving the resilience of new yorkers and helping the city heal. kelly was supposed to be at the world trade center that morning after losing so many friends and colleagues she ran that year with american flags pin today her jersey. >> it was extremely moving and moving for people around us and just love my city and love my country and was happy to be able to do that at that time. cheryl: fast-forward to 2020, the pandemic tested new york again forcing the big apple into a near shutdown, still the running community rallied together with 16,000 people completing the race virtually including me when i finished on a rainy sunday that would have been marathon day. and now new york is back and ready to welcome 30,000 runners on sunday celebrating 50 years of one of the most iconic races in the world with one special
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volunteer who can't wait to be back at the finish line for her 30th year welcoming exhausted runners, barbara. >> exciting every year. i see a lot of the same people every year. i think it keeps me young, keeps me young just to be here. [laughter] cheryl: maria, that was barbara rubeinstein, she will be out there this sunday. maria: that's so great. i always say it, cheryl, you are amazing. you're so strong. we will be watching you sunday and we will be right back. ♪ ♪ ♪ bug spray and my sunscreen. you ready to go fishing? i got the bait. i also earn 5% on travel purchased through chase on this rental car. that lake is calling my name! don't you get seasick? we'll find out! come on. and i earn 3% on dining including takeout.
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closing in, arresting a third person in his investigation into the trump russia collusion lie. what happens next will be more critical in getting to the origins of the russia hoax. that source fessed up to lying to the fbi as early as january 2017 as i reported many times. he told the fbi during a three day interview after the trump inaugust a raise that the dossier was made up yet the fbi still renewed fisa warrants to wiretap the trump campaign, the two more times that year, including on carter page as lindsey graham reiterated to me just last year. >> the fbi knew it, did a 40 page memo but the fbi continued to lie to the court. they continued to use it anyway. somebody needs to go to jail. maria: the dossier was paid for by the clinton campaign in 2016, as notes showed that hillary wanted to tie donald trump to a scandal in russia so she did and
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circulated the dossier throughout government agencies. we'll follow the breaking news all morning long this morning. plus this, pelosi's big push, the house speaker scrambling to bring a vote to the floor despite not having the needed votes on the infrastructure and social spending package. it's unlikely the social spending bill passes the senate regardless. markets are in the green, futures indicating a gain at the start of trading, the dow industrials up 22, s&p 500 up 11, nasdaq higher by 65. our special coverage begins at 8:00 a.m. eastern on jobs, don't miss it. we will identify where the jobs are right now. stocks extending their record setting streak yesterday in fact, we begin the new day with the nasdaq and s&p 500 at all-time highs in unchartered territory for a sixth straight session. european markets this morning are in the green, take a look at europe where we see fractional moves across the board led by the momentum in technology in the u.s. the ft 100 is up 44, and the cac
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is up 39 and the tax index higher by -- dax indexer higher by 22. in asia overnight, red across the board, asian markets were lower with the hang seng down 1 and-a-half percent. "mornings with maria" is live right now. now some of top stories that we are following this morning. pfizer shares are soaring ahead of the open, the company reported the covid-19 anti-viral pill is 89% effective at lowering the risk of death or hospitalization. it was found to be generally safe and well tolerated in the most recent study. pfizer plans to ask the fda to authorize the drug for emergency use later this morning. pfizer shares are up this morning, better than 9% right now. the white house now is admitting that millions of your tax dollars will go to pay illegal migrant families separated at the border. watch this flip-flop. >> you guys keep sending that garbage out but it's not true. >> the president is perfectly
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comfortable with the department of justice settling with the individuals. maria: there you go, white house deputy press secretary forced to clean up president biden's comments over reports of paying illegals separated at the border $450,000 a head. that's about $1 million per couple. the president calling the report garbage earlier this week as the aclu immediately played clean-up, saying a deal like this is in fact on the table. your taxpayer dollars, paying for those people who broke the law in this country. jack ciattarelli is not ready to call it quits, he's contesting the new jersey election. he said he is not conceding until all ballots are counted, a process that could take weeks. ciattarelli called phil murphy's victory speech premature, as is the media, with less than 1 percentage point separating the candidates. ciattarelli has yet to indicate whether or not he will seek a
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recount. time for the word on wall street top investors watch aingy this morning. we're looking at gains and record setters. joining us right now is chief investment officer, nancy tengler, lindsey piegza and mike murphy. great to see everybody this morning. thank you so much for being here. lindsey, kicking things off with you. the expectation for the october jobs report out in hour and-a-half, calling for 450,000 jobs. what are you expecting and what's priced into the market? do you think we'll see surprises move markets today? >> we certainly could, but we are looking for a rise around 450 to 500,000 witch is widely priced into the market. this is a significantly better report than what we saw last month with the sub-200,000 rise. this would bring us back to the underlying trend in terms of hiring established since march. as far as the unemployment rate,
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i would agree with the consensus, we're looking for a further decline. this is going to reflect both hiring gains and a further loss in the labor force. the latter of course being far from the ideal situation as businesses remain desperate for workers. and in fact, to that point, as the labor supply gap remains we also expect average hourly earnings to continue to tick higher, near the 5% annual pace. maria: all right. we'll look at that in the report, what earnings look like. nancy, fed chair jay powell was seen leaving the white house yesterday, the visit comes as biden is weighing whether or not to reappoint powell to a second term as the head of the central bank. the federal reserve decided earlier this week as you know to begin to taper back its bond buying program. nancy, you say regardless of who is appointed the fed will become more doveish in the coming years. explain. >> there's two openings. we have the term expiring in
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january and we have an a open vacancy. we know the appointments will be more progressive and more doveish. i think investors need to expect that the fed is going to be not only a little more political, but a lot more doveish as we go into the new regime and the tapering has been late in our view and it doesn't mean that the fed isn't still buying bonds. they are. they're going to hey dues that by 1 -- going to reduce that by $15 billion per month. this liquidity party goes on for another six months or so. lindsey mentioned wages. they are up dramatically but real wage growth is still negative thanks to inflation. so i think there's still a lot of work to do in the inflation camp and we think it and have thought it's sticky, it's going to be stickier which is why
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we're focused on tech stocks because that's the only way to improve productivity and get us out of this. maria: i wonder how markets would react if powell wasn't reappointed. i recognize that you're talking about a doveish scenario but the progressives want to take him down. that's partly what we've been seeing in the news recently with the focus on those fed governors and fed presidents trading stocks, even though obviously it don't look good at all. pushing these stories to take him down, the progressives want somebody who is going to have wide open, easy stimulus and if it is lyle brainerd i wonder if markets sell off. i spoke with one source who told me he does not think biden is going to reappoint powell. he doesn't expect it. that's one source and as i said, i can't get the answer from the biden administration. they're not telling us what the news is so we don't know, can't confirm that but one source just
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two weeks ago told me he is not expecting biden to reappoint. i wonder if that would be a negative for this market, even though it opens the door to so much stimulus, it's just more progressives policy. >> right. agreed. and the market doesn't like the uncertainty and whenever there's a change the market sells off. ed yardeney who is an intrepid market watcher, he thinks powell will not get reappointed. i'm not that close to it. i do know that the market will react. maria: yeah, another important source also said the same thing to me. so we've got to stay on this and keep trying to get to the bottom of it. biden is not telling us. but mike, let's look at peloton, the stock is losing a third of its value in the premarket. it cut its full year sales guidance, forecasting between 4.4 and 4.8 billion in total revenue, down from 5.4 billion. the company is talking about the drop and blaming on the pandemic
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related uncertainty, saying people are beginning to go back to gyms. what's your take? are they buying fewer bikes? >> you know, good morning, maria. people are definitely buying fewer bikes. i think the problem for peloton is they set a forecast that was based on people not going back to gyms, based on the economy opening up slower, kind of the message we were receiving would of be in sort of lockdown for a longer period of time. now people are going out, you saw planet fitness had strong earnings, at a new high. people are going into gyms. i think the story for peloton here, maria, for investors watching, if they were looking to buy a car yesterday for $50,000 but weren't sure if it was too expensive and this morning that car was on sale for $37,000, people would go out and buy it. investing is the only time when people see a selloff and they don't view it as an opportunity. i think peloton trading in the mid-50s, down from almost $200 a share, he yes, they will not
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see lockdown growth. thank god we won't be in lockdowns ever again, hopefully. people are still using pelotons. people are still buying pelotons. remember the moat peloton has, they have a recurring revenue. i don't think management did a great job on the conference call but i would not give up you on peloton and i think it is an opportunity. selling down a third, i'll buy peloton this morning. maria: you will. okay. and, look, nice hit on all birds. i remember when you first brought the ceo and founder here, what that was -- what an investment, going public and the value created there, mike murphy. great to see you. and lindsey piegza. thanks very much for joining us for the word on wall street. nancy tengler, great that you're saying with us all morning long. we're going to take a short break. when we come back, coming up, activists take aim at senator joe manchin, blocking the democrat's mass ratty over his
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-- mazerrati over his stance. it's not going to change his mind, by the way. it's jobs friday. don't miss our special coverage of the october jobs report, we have all hands on deck. joining the conversation all morning long this morning is dagen mcdowell and nancy tengler. we'll get back to this fantastic panel in a moment. you're watching "mornings with maria" live on fox business. when the only thought on your mind is “finally” this is financial security. and lincoln financial solutions will help you get there as you plan, protect and retire. ♪ will help you get there as you plan, (man) still asleep. (woman vo) so, where to next? (vo) reflect on the past, celebrate the future. season's greetings from audi.
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maria: well, the mobs are back, progressive activists swarming west virginia senator joe manchin yesterday while he was walking from his houseboat to his car. they're trying to get him to change his mind on the massive spending bill. watch this. >> we want to end --
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>> [crowd chanting] maria: has there been any leadership in the democrat party denouncing this activity. this is not the first time he was acosted by protesters. in september, activists went on kayaks swarming in front of his houseboat with signs calling him to support biden's plan. so far, dagen, i have not heard anybody in leadership calling off the dogs, saying don't go and be mobs to a sitting senator, an elected official, because you don't agree with him. dagen: how about kyrsten sinema getting followed into a bathroom and videotaped? where's the outrage over that? where are the people, the left standing up for women and standing up against the harassment of women? joe manchin is looking over in his may you boring state of --
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neighboring state of virginia and he can dig his heels in for the future. for history, quite frankly. there's no -- number one, the democrats have bipartisan infrastructure bill that they could just -- in the house they need to pass it but the progressives have a stranglehold on nancy pelosi and hisser her elderly ilk and this is whe they are. if they want money for infrastructure and roads, passthe infrastructure bill. it's been passed out of the senate. with the build back better, what, half a trillion dollars in there is for green energy. people need lower gas prices. joe manchin has been in the racket long enough to know that. maria: yeah. i mean, nancy, i don't think there's any question that this week was a game changer for a number of moderates many you saw a red wave. you saw victories in gop areas
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from state houses to obviously the governor of virginia and in my view that should inform the democrats of where the people are. but nancy's not getting the memo. nancy: no. well, she's in a very safe district, isn't she. kyrsten sinema is my senator and she is -- should be applauded for trying to do what's best for her state, just as joe manchin is. you know, maria, my generation, when we protested we had rock and roll on our side. it was kind of cool. we have a bunch of people shouting we want to live, i think it's humerus and it makes them -- humorous and it makes them look dumb. maria: yeah. is just really not right they that he should be swarmed by people and the leadership in the democrat party does not he denounce this kind of activity.
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i don't think it's going to change joe manchin's -- dagen: i know a ford f-150 pickup truck is hard to park in a garage, but he might want to switch out the cars. maria: the last time joe biden was asked about it, he said it's part of the process, when he was asked about the mobs following kyrsten sinema into the lady's room. nancy pelosi is still scrambling to get a vote on president biden's spending agenda. it's likely dead on arrival. we're going to talk with congresswoman kathy mcmorris rogers when we come back. and inflation impacts the holidays, what you need to know when you're buying this year's pricey thanksgiving dinner. we've got it all when we come back. stay with us.
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maria: welcome back. democrats are still scrambling for a legislative victory after this week's red wave of election wins. the house rules committee
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working through the night on president biden's spending agenda. when house speaker nancy pelosi will actually have enough votes to pass this massive bill is an unknown. joining me right now is washington congresswoman kathy mcmorris rogers, she is a member of the energy and commerce committee. it's great to see you this morning. thanks very much. do you expect we will see a vote on these two bills anytime soon? >> good morning, maria. we're all waiting. clearly, the democrats did not get the message on tuesday that america is rejecting this grand socialist scheme that speaker pelosi put forward. earlier this year, speaker pelosi said this was a once in a century moment to fundamentally transform the united states of america. she is doubling down. what we see is a proposal for trillions of dollars of spending, over $3 trillion, more federal control of our lives, it's shutting down american
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energy. we're facing rising cost, ininflation, as you go to fill up your car with gas or go to the grocery store. thanksgiving is around the corner. you're going to be facing rising cost. a 16-pound turkey could cost $55 this year. maria: everything is much more expensive. they're still trying to push through $555 billion for climate initiatives, despite what we heard from voters this week. among those control of your lives is this vaccine mandate. president biden made his vaccine mandate official yesterday, meaning millions of american workers could be out of a job. companies will need to ensure their employees are vaccinated by january 4th or comply with weekly testing. that has loads of people saying i'm not going to stick around. i'm walking off the job now. you as a member of the energy and commerce committee saying you're going to fight this for healthcare workers. tell us what you're doing. >> this vaccine mandate is
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wrong. it's using fear, it's using force. clearly, the biden administration, had they do not respect individuals to make the best healthcare decisions for themselves. this is federal government coming in to control your healthcare decisions. and we're going to -- we are going to fight this because individuals should not have to choose between complying with a government mandate or making those best decisions for themselves and losing their livelihood in some cases. so we are going to protect the healthcare workers. we're moving forward to ensure that healthcare workers in the united states of america will not have to comply because we're facing losing thousands of healthcare workers. we should be grateful for all that they have done over the last year and-a-half through the pandemic. they've been on the frontlines and we had an administrator, a hospital administrator testify in front of energy and commerce recently and he said he is facing losing hundreds of nurses. instead of that, we should be
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educating, encouraging individuals to talk to their doctor. that's the way we build trust. this approach only builds resentiment. maria: let me ask you, congresswoman, have you seen moderates, your colleagues, moderate democrats, have they been turned off to some of these policies after what we've seen this week? what can you tell us sort of anecdotally about what you see in the house of representatives, particularly regarding moderates who are facing re-election and just saw, for example, glenn youngkin win virginia. >> it's a great question. speaker pelosi doesn't seem to care about that kind of collateral damage. on the energy and commerce committee, we've had democrats that have rejected, for example, the prescription drug pricing scheme. this is a proposal that is going to cost american innovation, cost us cures, at the very time that we're on the verge of some amazing discoveries and we had democrats rejecting that proposal and i continue to hear that moderate democrats in
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particular have concerns about this type of an approach. others are concerned about the spending. they know that this is only going to cause more inflation, it's record spending, record spending of money, record printing of money in the united states of america with no way to pay for it and no accountability and they know that it ultimately is going to hurt hard-working american families. maria: all right. well, it also likely will hurt their re-election chance as well so i'm wondering if they're going to change their mind on things. congresswoman, it's good to see you. thanks very much. we'll keep watching all of that. busy times in washington. congresswoman kathy mcmorris rogers. quick break and then breaking down the lies of the russia collusion hoax. we have what's next on the john durham probe. we want to get into the end. we'll look ahead. stay with us. ♪ ♪
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maria: welcome back. good friday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is friday, november 5th. a look at markets this half hour. we are looking at gains, the major indices back further into record territory ahead of the october jobs report out this morning. the dow industrials up 38, s&p 500 up 8 and a quarter and nasdaq up 18 and three quarters, uncharter territory for the s&p and nasdaq. our special coverage of jobs begins in about 30 minutes' time. stocks extended their record setting streak with the nasdaq and s&p 500 finishing at all-time highs for a six straight session, up 128 points on the nasdaq, almost 1%. european markets are higher, take a look at the eurozone, double digit moves in the indices, the cac up 42, dax higher by 12 and two thirds. in asia overnight it was red across the board, selling underway there and the asian markets finished with a decline of 1 and-a-half percent on the hang seng in hong kong, the
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worst performer. in the united states, vie license and chaos at a popular mexican resort. cheryl casone with the details now. cheryl: maria, a resort was sent into chaos yesterday amid reports of gunfire. resort guests were told to shelter in place during the incident. according to local authorities, a confrontation between drug dealers on a nearby beach was the cause. two of the dealers were killed. no other injuries were reported, luckily. well, american airlines delaying its employee vaccine mandate. the decision to delay coming after president biden delayed the government's deadline for contractors to be vaccinated. airline unions have raised concerns regarding the deadline, warning of labor shortages and flight disruptions. take a look at american in the premarket, stock is up by almost 4 and-a-half percent. well, hertz is going to have to wait for teslas like the rest of us. the rental car company put in an order for 100,000 of the weeks by the end of 2022.
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earlier this week elon musk said no contract for the cars had been signed and now the companies are reportedly negotiating over how quickly hertz is going to be able to receive their cars. and then there is this, amc is going all-in on pop of corn, the largest theater chain in the world plans to open 15 retail stores by the end of 2022 and they're going to partner with food delivery services for pop popcorn. the announcement that amc is going to become a competitor in the popcorn market is so natural and logical, one wonders why the idea has not been tried before. and he makes a great point. maria, those are some of your headlines from here. maria: cheryl, thanks very much. the price of popcorn and a lot of other commodities on the rise, take a look at oil prices this morning, higher after opec plus sticks to its plan for a gradual increase in output, ignoring calls from president biden for a quicker and significant increase you amid an
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energy crisis. crude oil now at 79, 26 a barrel. the price of brent oil, $80.79. joining me right now is united refining company chairman and ceo, the president of taking dao foods. thank you for being here. i know you wear a lot of hats. of i want to get your take first on oil, one of your biggest and important businesses. you say the price increases started after president biden canceled the keystone xl pipeline. >> well, it started and we were at 40, $45 a barrel, now we're at 80, $84 a barrel. and i think we're going to go to $100 a barrel before you blink
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your eyes. it's headed up. the other day, opec told president biden that no way are we raising our output. why sell it at $80 a barrel when they're going to get $100 a barrel three, four months from now. and it's very sad what's going on. we are selling ourselves to russia, to opec, to china. china, russia, opec wins. america loses. that's what it comes down to. but maria, tuesday's election, you know what tuesday's election showed? it showed that the democrats, the moderate democrats have to be more scared of common sense americans, overall americans, than they are of the woke culture. and that's the message. they better be afraid of common
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sense americans because common sense americans are mad as hell and they're not going to take it anymore. maria: i would say the question after this week where we saw this red wave take place, led of course by virginia, the question has to be is biden's economic agenda dead? i mean, you have to believe that moderates are looking at this and saying, well, if this is where the people are, i'm not going to get reelected, if i vote for this spending. out-of-control spending, which has already stoked inflation. nancy pelosi is still pushing for a vote on these bills right now. >> look what happened in a small city, buffalo, new york, where a socialist was running at a democrat. all the democrats -- practically all the democrats in new york state endorsed the socialist versus the four-term mayor that fell asleep while running the primary and common sense
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democrats, common sense republicans got together and a write-in ballot, which is unheard of, beat the socialist. i was very disappointed in the usual common sense democrats in new york state, senator schumer usually has some common sense and why go with these socialists? you know, i tell all my friends -- maria: it's because aoc is threatening that she wants to primary. schumer and everybody else. she's bringing in her progressive friends and they're all afraid of her. >> they have to have the courage. maria: that's what we're looking for. we're looking for courage. >> aoc lost big time on tuesday. she did not endorse eric adams, the current mayor. she did not -- she endorsed the loser from buffalo. she lost big-time. it's time for common sense democrats to stand up and say
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it's enough. maria: even as they are pushing all of this spending we are seeing inflation in our faces. john, put on your other hat and tell us about the price of food, what you're seeing in terms of this year's thanksgiving. it's expected to be the most expensive ever. last year the price of a turkey was 85-cents a pound near thanksgiving. this year, that same pound is costing $1.15 per pound. you look at things like cereal, kellogg's expecting to raise prices amid a worker strike. the company anticipating supply chain issues, shortages to continue in the coming months. that stock is down. so john, what are you seeing at gristedi's as we look at the inflation spoking more inflation. >> prices continue to go up. we're having price increases a lot for november, a not for -- t for december, a lot for the
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first quarter. the prices are going up because the price of the cost of doing business is going up. labor-wise and gasoline-wise and trucking-wise and the other big problem, maria, is the democrats in the western states, california, oregon, washington, are not doing anything to solve the port problem, to get the product in. and that's a serious problem. maria: yep. yep. well, look, at this point we're all accepting this. the inflation. people are speaking out and the only way to do it is through their voting so that's what we saw this week. john, we'll keep watching your business of course and talk with you soon and catch up soon. thank you, john. >> thank you, maria. maria: all right. quick break and then in the name of gender equality, one british school asking male students to dress differently. you won't want to miss this. we will show you how in the t hot topic buzz of the morning.
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and then it is the end of daytime saving time, don't forget to fall back, turn your clocks back on saturday night and enjoy the one extra hour of sleep. but of course the sun is going to go down earlier. "mornings with maria" is live on fox business. this isn't just freight. these aren't just shipments. they're promises. promises of all shapes and sizes. each with a time and a place they've been promised to be. a promise is everything to old dominion, because it means everything to you.
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maria: welcome back. now to the russia collusion hoax, the prime marry subsource for the steele dossier was arrested yesterday, special
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council john durham is caring him with five counts of lying to the fbi. he is the third arrest in john durham's probe. now the question is where does this probe go from here. since he fessed up to the fbi back in january of 2017, that the dossier was all made up. that's when we reported when lindsey graham declassified those documents indicating that interview with the fbi was january 2017. watch this. >> the fbi knew it, did a 40 page memo but the fbi continued to lie to the court. they continued to use it anyway. somebody needs to go to jail. maria: as i had reported the dossier was funded by the hillary clinton campaign and her law firm during the 2016 presidential election. it was used by the fbi to justify fisa surveillance warrants on the trump campaign and donald trump. judicial watch president tom fenton has done a lot of work on
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this, forcing the exposure of certain documents to inform further. tom, it's good to see you. thanks very much for being here. your thoughts on the danchenko arrest? >> it further confirms the not only the criminal operation that at its heart was a clinton operation, but as you're talking about, the fbi's been implicated in this and if i was the he defense attorney for danchenko i would say how do i lie to the co-conspirator. that's what the fbi was. the steele dossier was created not only by clinton campaign operative, chris steele, but he was an fbi operative. he was paid in 2016 by the fbi, the same time he was being paid by fusion gps and the clinton campaign. so the dossier operation was a jointly run operation between
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the fbi, under obama, and the clinton campaign. and once they knew and certainly couldn't -- once steele started lying and they fired him, they still wanted to work with him. and as you see these interviews with danchenko, they weren't trying to -- the reason they weren't interested in prosecuting danchenko for lying, because they wanted more dirt from him. they were desperate to bring steele in and to britain chen b danchenko in in 2019. the fbi continued to push under obama. they hand the baton over to mueller. mueller knew almost immediately there was nothing there. and yet they continue to harass president trump and frankly none of this would have ended unless president trump fired sessions and barr came in, saw what was going on and shut mueller down. this is a crime without equal. it makes watergate seem like a
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walk in the park. my view, durham needs to question hillary clinton directly about what she knew. this is a clinton campaign operation whose criminality is exposed in the indictments. that's the key issue. and the fbi knew it and worked with them despite knowing it was all a big lie. maria: yeah. i know. and the enormity of this lie is one reason i could not hold it in and had to for several years come out and say no, no, no, this is what we're learning, did you watch sunday morning futures, this is what devin nunes said, this is what these documents tell us. it was so enormous but it was also so successful in terms of getting the public to believe that there was some kind of collusion going on and what a dereliction of duty to throw at us russia, russia, russia while in fact it was china that was gaining on america and instead they just -- the democrats looked the other way because
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they were so intent on taking down donald trump. tom, i want to get your take on where this goes next because i played that lindsey graham sound bite because it was in 2020 when lindsey graham finally declassified those documents that proved to us what we had been reporting, what you as well as myself, that, you know, it was a plan of hillary clinton to tie donald trump to the russia collusion story, some story in russia. but when do you think the fbi decided it wanted to work with the clinton campaign? because the fbi interviewed danchenko january 25, 26, 27, 2017. that was a week after the inauguration of donald trump and even after they got danchenko to admit, yeah, i made the whole thing up, they still pursued the wiretap of the trump campaign including carter page. is there culpableity for that in your view? >> i think so.
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i mean, certainly in the late summer, early fall, they had knowledge directly, at least documentary knowledge, we uncovered, look, steele has a dog in this fight. steele was leaking so they fired steele as an informant, yet they still wanted to work with steele so they went and met with him shortly before the election and they were negotiating and the fbi told steele, even though they knew he was a leaker, and they knew he was a clinton campaign operative, that they were investigating donald trump. so you had that direct coordination just before the election and obviously that investigation was leaked almost immediately by the clinton campaign. i tell you, peter strzok, lisa page, anyone who signed off on the fisa warrants ought to be the subject of a criminal investigation. but we've been talking about
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this for years. what's frustrating is we knew that hillary was working with the russians in 2017. they admitted it, practically speaking. it's only four years later are the lies prosecuted. the fisa lies have have been out there for three years and it's frustrating that nothing's been done because, you know, a presidency was lost in the meantime and they -- remember, maria, they impeached trump because he started asking questions about biden and ukraine's involvement in this scandal. this goes beyond just who should have been prosecuted. they messed with our democracy not only in 2016 but through 2020 and to this day. maria: well, we've got to put one more point to that. because the people who actually abused power are back in power today. jake sullivan was working for hillary clinton, disseminating all of this lie of collusion and now he's running the nsa.
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>> they were promoted. maria: yeah. that's right. yeah. so we'll be waiting for accountability on all of this, tom. but you did a great job and i'm proud of the job i did as well in the face of the big lie of all. tom fenton, thanks very much for being here. stay with us. we'll be right back. ♪ ♪ ♪ hey google. ♪ ♪ ♪ ♪ ♪ ♪
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maria: welcome back. time for the this morning's hot topic buzz. one u.k. school asking boys to wear skirts to promote gender equality. an e-mail went out to parents asking students as young as 3 years old to participate to, quote, spread the message that clothes do not have a gender. dagen, what do you think? dagen: well, if it was in
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scotland and they were asking them to wear kilts, maybe i could get on board with that but why not make it the reverse, like tell girls they have to wear trousers. this is absolutely absurd. and not the place for a school. that is up to the parents and the kids how they want to dress. period. maria: unbelievable. nancy? nancy: i just -- maria, i find this whole thing so boring. you know, i don't know what the point is. and as dagen said, wearing a skirt in scotland isn't a big stretch because they do have traditional kilt dressing. so i don't know. it's disheartening and i don't know why we're putting our kids through this. just let them slug it out on the playground. maria: i don't know either. still ahead, don't miss our live reporting on the october jobs report at 8:20 a.m. eastern. we've got all hands on deck in the next hour, "mornings with maria" is live on fox business. stay with us.
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. maria: welcome back. good friday morning. thanks for joining us. i'm maria bartiromo. it is is jobs friday, november 5 your top stories 8:00 a.m. on the button on the east coast, futures edging hire ahead of october jobs' report in 30 minutes' time we are expecting 450,000 jobs jo, to have been added last month unemployment rate ticking down to 4.7% all numbers analysis coming up futures hire going into the report, dow industrials up 42 right now jobs' report will be out you in 30 minutes' time, john durham closing in arresting a third individual in his investigation, into the
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trump-russia collusion lie what hands next critical in getting to originals of the hoax igor danchenko fessed up to lying to fbi by january 2017, as i have reported many times. he told fbi during a three-day interview after trump's inauguration dossier was all made up yet fbi still refisa warrants to wiretap former aide carter page as lindsey graham reit rated fbi knew it 40 page memo continued to lie to use it somebody needs to go to jail. maria: dossier, of course, paid by the for by clinton campaign in 2016 as handwritten notes by cia headed john brennan show hirl wants to tie donald trump to
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scandal in russia circulated that throughout government agencies including fbi and state department latest all "mornings with maria" mornings is live right now. maria: first this morning christmas around the o corner holiday sales could hit record high amazon using robots to keep up with demand jeff flock at amazon warehouse in wilmington, delaware one of the biggest by amazon in the world exclusive look at robots, look at them ring around labor so tight, just fly by this one right here doing inventory, on what is in to be scabbed -- scanned, what is he is that guy doing. >> taking products out of ourbins, that way we can take this product, actually send it
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out there to team, ship to commerce. >> a copy that heck of a season, maria, national retail federation says increasing sales between 8 and 10% 860 billion dollars they think this christmas, that would be all-time record, they also in addition to robots need a lot of people we talked to john felton senior vice president at amazon,issue in chafrj of making sure they've got enough people. >> what he told us. >> 25,000 new i full-time jobs, additional 150,000, seasonal jobs for the season labor has been a challenge more so this year than many. maria: a they say they will have enough people, right here working hard happy to have the job, and with help of perhaps you see the robots i leave you with this only, obviously, amazon did biggest he retailer in the world we think despite last year's numbers 23%
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increase in in only purchases this year, could come to a total 1.3 trillion with a t, dollars, we are here all day showing behind scenes how am o horizon is going to get your package when it needs to go. maria: all right jeff thank you so much jeff flock, in delaware this morning, thank you we will watch your coverage joining me to talk about this the holiday season -- phil simon former president ceo walmart u.s., venture holding president you have seen cycles good and bad ones now faced with inflation, and this supply shortage, how do you think the next few months many look around the holidays?
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>> o maria over of last 20 years supply chain home to razor's edge slack taken out we shut down, your last year, tried to restart, now restarted with excess demand supply chain has not been able to keep up the next few months are going to be scrappy i think you will see people like amazon, walmart big guys find it a way to get it done i think where stress will be in some littler folks don't have resources the big retailers do. >> some of that stress also shows up, with the -- inability to hire a shortage of truckers, companies small businesses saying they can't get employees back to work. what do you think is behind that? is that -- policy that many people just getting checks in the mail over summertime? and are -- thoroughly fine not going back to their typically
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former 9 to 5 life? >> i think that is part of it, maria may have started i think where we are today we have pretty much, a seller's market in labor, so people are switching jobs upgrading changing jobs staying out for a while longer because the man for labor is so high, i think what you are seeing increasing labor rates causing people to shift jobs more turmoil in the system there is a backup truck drivers warehouse workers need for labor retail one thing isn't going to fix it going to take some time. maria: what do you make of response from business a bipartisan group of lawmakers, are urging transportation secretary buttigieg to higher under age 261 years old across state lines government bans if 21 hoping to be added drivers get products to the shelves faster, again indication of businesses cannot get drivers
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that they need. >> well i think anything, that is safe, will help to ease the trucking shortage built presumably people are already working somewhere else so if they change their job they go drive truck or a truck from out in interstate may cause a gap in labor somewhere else, so that in and of itself isn't going to solve the problem may help from transportation perspective but, you know, containers are stacked up on ships offshore, longshoremen having difficulty things unloaded back ups in warehouses so trucking the will help, this maybe a good initiative presuming it is safe of course. >> quick before you go, your investing he know the space better than most where do you see growth in retail? >> well, i think, you know i am bullish on the big guys, online not pure play online so
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much, as you know, the -- the blending the intersection between online physical digital retail i think walmart doing a good job of that target doing a good job amazon getting into that space trying to find a way to add to dominance in the virtual space i am bullish on big companies in retail right now who have the ability the resources, to attract labor and have capital to do things like, the piece before mechanicization you autoization. >> you are right not everybody has that that scale, that you are referring to, that big guys do great to catch up as always thanks so much. >> thanks, maria. maria: bill simon joining us this morning a break a costume home loan experience rocket
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company new partnership with sales for those in fox business exclusive ceo is here next. >> 20 minutes away from october jobs' report break down everything you need to know for month of october identify where high-paying jobs are special coverage jobs' report dagen mcdowell nancy tengler you are watching "mornings with maria" live on fox business. . wealth is breaking ground on your biggest project yet. worth is giving the people who build it a solid foundation. wealth is shutting down the office for mike's retirement party. worth is giving the employee who spent half his life with you, the party of a lifetime. wealth is watching your business grow. worth is watching your employees grow with it. principal. for all it's worth. ♪ ♪
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>> welcome back. rocket company beating third quarter estimates reporting total adjusted revenue up 3 1/4 billion dollars earnings per share 57 cents a share, joining me right now in fox business exclusive vice chairman ceo of rocket company jay, great to have you thanks very much for being here this morning. >> good morning, maria. >> i would like your take on
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the quarter but overall rocket largest in the united states what drove quarter how would you assess the population with regard to mortgage sales. >> very strong quarter proud of our team the market remains incredibly strong as well you know, home sales, are setting records the largest purchase mortgage quarter for us in 36-year history, and another exciting component is the increase in equity i think last 18 months or so we've seen, equity in america jump from 19 trillion to 24 trillion dollars, that means, lots of equity for americans to use, to buy things take cash out of home improve home, et cetera, those two factors drove production for us, and a lot aloud us to have a great
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quarter. >> in addition to things like rock-bottom low interest rates consumer wanting to make changes in terms of applying a home changing the way they live redough mortgages you have the population getting more comfortable with digital solutions, when it comes to financial services talk about that have you seen a big change there? >> that is going on for years i think pandemic helped accelerate that. at this point in time almost expectation you will handle home financing online an app or talking to somebody, through chat if you need to get assistance we have been doing that as you know many decades now, but we really saw acceleration on purchase side of the market so rocket home platform allows consumers to look at homes across the united states, tied into our network our centralized agents assist people for sale by owner platform all tied into rockest mortgage, only allows
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people to do things from comfort of home on phone, incredibly important, when you are -- you have less than 2 1/2 months housing inventory every second counts bidding on homes we have seen a shift over years accelerated last 24 months on purchase side i think that helped drive a record quarter in purchase. >> we saw momentum in 2020 i am wondering do you see a cyclical peak in terms of mortgage origination in 2020 or still in it expecting this kind of momentum, and voluntarily to continue. >> rocket company our mission to build out platform so, not having one or two channels to drive mortgage production but multiple channels as you know we are partnering with sales for those to embed our services in their financial services cloud, we've got
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partnerships with mint credit karma, we are doing business with morgan stanley, so, you know all of these different areas, for us to reach zmeerz likewise us to grow market share regardless whether the overall he mortgage market is shrinking a little bit or growing on day other side equation home values are record highs, i saw report yesterday that the average home price in 2022 expected to be 435 -- 435 thousand dollars, as that grows even if the units slow a bit, the overall mortgage market will remain very steady, so for us we've been 8 1/2% market share just over a year ago we think 9 1/2 market share by the end of this year goal to 10% market share in 2022, so interest rates go a up and down you are a mission to continue to grow we think we can achieve that.
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>> tell me g partnership with sales force emergency as service platform will extend technology to financial institutions partners how significant sales force we know federal reserve will start process this month of paring back probably r5i6 interest rates beginning next year. >> we've been spending last few decades building incredible proprietary technology allows to us process, close loans great service incredible clip very -- faest closings bringing confidence to agents to consumers, on the other side you've got sales force a great 360 view of clients we use them eternally, but many credit unions use financial services cloud almost 10,000
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banks credit unions the work have team has been admiring for our ability to take our great technology, and plug into it the sales force have reached to nearly 10,000 banks credit unions give loan officers the ability to plug into rocket technology, to deliver that great experience to their clients, that is yet another way that we can reach consumers that tie we may not be reaching, so it is incredibly exciting, whether interest rates go up or down whether cash out, refinances whether helping purchase homes just another great way to reach a consumer, i believe last year those banks credit unions did almost one trillion dollars in mortgages under a third all mortgages done through institutions, being plugged in gives access to those clients a great win for us. maria: that is an incredible number, jay we will be watching, great to see you. thanks very much for being
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here. >> great quarter, thank you. >> thank you. >> jay farner, three minutes away from from october jobs' report bring in all-star panel all-hands-on-deck for the jobs number as market trades up stay with us. . . that was quick. and rewarding. i earn 3% cash back at drugstores with chase freedom unlimited. that means i earn on my bug spray and my sunscreen. you ready to go fishing? i got the bait. i also earn 5% on travel purchased through chase on this rental car. that lake is calling my name! don't you get seasick? we'll find out! come on. and i earn 3% on dining including takeout. so much for catching our dinner. some people are hunters. some are gatherers. i'm a diner. pow! earn big time with chase freedom unlimited with no annual fee. how do you cashback? chase. make more of what's yours. at t-mobile for business, unconventional thinking means we see things differently, so you can focus on what matters most. whether it's ensuring food arrives as fresh as when
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maria: welcome back. october jobs' report in moments from now congress expecting 450,000 jobs added ununemployment rate ticking down to 4.7% to break it down stephanie pomboy, head of trillion investments group, john lonski, johnnie, the "the wall street journal"'s senior writer great to see you. thank you for being here john great to see you welcome back we want your take before numbers come out, what with a should we focus on this morning john? >> well, i think there's three numbers a lot of numbers that are coming at people three that i think matter one is, overall job growth number 450,000 is benchmark, is it above or below that unemployment rate is it continuing to fall, the labor force participation rate, you
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know so many people left the labor force during the pandemic. are they coming back? you want progress on all three of those fronts. we can't know how fast the progress is going to be but without progress, then, you are going to be disappointed with number. >> any thoughts then on the move then john in wages consider what are you expecting. >> wages volatile number people shifting industry, you know some industries like restaurants where wages tend very low, if you are moving out of that could skew the number would i focus on participation, unemployment, payroll and we should talk about these vaccine mandates how they are going to affect the job market next year a i think that is a big story next year. . >> big story for sure. right now as well we are taking a break then october jobs' report after the break stay with us all hands on deck, next. .
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. . maria: welcome back. good friday morning. thanks for being here. i am maria bartiromo jobs friday november 5 issue markets ahead of number coming out in a minute and half, futures higher this morning dow industrials up 56, s&p 500 up 12 1/4 nasdaq up 27 1/4 nasdaq and s&p 500, in uncharted territory before october jobs' report hits stephanie pomboy from macromavens, we've got all-hands-on-deck quick thoughts on what is most important as we await this number. >> i think going to be the labor force portion last month to expiration to send workers
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in labor force instead we saw people drop out of labor force, i think to watch, you know i want to echo john's comments to that, getting into that vaccine issue as well especially november, beginning next year. maria: for sure, the expectations expectations 450,000 let's get to edward lawrence. >> that anybody up as we speak getting it down -- job created 531,000 jobs added back to the economy in month, unemployment rate trying to get numbers here not quite loweding the internet failing, down to 4.6%, related to this if you look inside some numbers, you can see interesting things gains in the establishment service manufacturing increase
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by 60,000 people transportation warehousing increased by 54,000 construction employment rose by 44,000 health care up 37,000, employment in other service industries up 33,000, financial service, 2i69s rose 21,000 wholesale trade up 14,000 very interesting report here going forward, again total nonfarm payroll up 531,000, unemployment rate dropped a little bit, leisure hospitality increasing 164,000 in october risen 2.4 million thus far this year, in leisure hospitality unemployment still down, from february 2020 by 1.4 million, again manufacturing look at that manufacturing employment down 270,000 since february of 2020 again a beat on top line, is a heard, unemployment rate did drop back to you. maria: this is a
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better-than-expected number he had ward we've got markets reacting right now dow industrials up 92 points s&p 500 up 11 3/4 nasdaq up 5 1/2 record high dagen mcdowell thoughts on 531,000 number add to economy in october. dagen: looks good across the board particularly strength industry by industry with 531,000 jobs added, was -- really blew expectations away there, not really at maximum of the job creation the labor participation rate however did not budge it was 61.6% in october same in september, i am looking at the -- average hourly earnings for all private workers, up 4/10 of a percent, and that was the expectation for average hourly, men and women over month right there i am also looking for the year-over-year
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increase in the wage gains because that has been one of the biggest problems inflation eating up wage gains come back i will have that great number across the board particularly manufacturing, 4.9% year-over-year increase for average hourly earnings in line with expectations, i would know cpi running in september, 5.4%. maria: we've got a market rallying on this better performance for jobs, for october, even as federal reserve is going to begin i tapering your reaction. >> certainly is a blockbuster report numbers nice a highs jump in nonfarm payrolls wages increase in a way that compensated for some precise being increases wasn't out of
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ballpark at least steady nice across the board but real blockbluster another way that we didn't want to see on the other hand something so out of the zone, that that could 20 your point cause the fed to potentially act faster market to react to that a nice balanced report upside surprise again not completely out of the dark. maria: let's bring in john lonski all hands on deck with nancy tengler dagen mcdowell stephanie performance by lisa ericsson, john lonski take it away. >> o report i can't help but notice that year-over-year increase by the average hourly wage he is moving towards 5%, 4.9% in october. once annual increase for average wage breaks above 5%, we are going to a little bit more about longevity.
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apparently wages are beginning to grow rapidly enough so consumers can better afford prices, a labor, this can continual imply future highs for future goods and services. >> perhaps higher wages steve get people back to the office, get employees, to see a little alleviation of what the they have been facing all summer, because of the policy. your thoughts. >> that is that is exactly right, you know, we have still have 10 million open jobs in this country, so we are finally seeing people build some shops a relief good number and across the board, across industries i have been visiting a number of factories, and manufacturing firms around the country almost every one of them that i visited maria said we need more workers how can you get us he more workers, so it is a
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very positive thing that we're seeing, hiring up again, people feeling some of these, one part two quick points one is supply chain problems we've been seeing last month or so i am a little surprised that those didn't constrain employment you've got issues where you just have, you know the ships at ports shortage of the transportation workers, so looks like the supply chain problems did not have neck impact on employment. the other issue i still do worry about the inflationary impact i wvnd i don't know what others on this panel think there is some kind of wage push nation now in the economy? that could that could make inflation worse in the future as opposed to continuing to bid up wages salaries to get people back to work. maria: nancy tengler you are watching all issues every day, trying to create opportunity
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for investors, as you allocate capital what is your read? nancy: yeah, i thought report was excellent, and especially the revisions to last month 194 to 312,000 jobs created, so, you know, we're looking at -- all aspects, manufacturing is clearly, a bonus because we think we need that, to ease the supply chain disruption, so i am encouraged i still think you want to be long stocks going into end of the year, and this is one of the reasons why. maria: okay. and stephanie pomboy you and john both pointing to the participation rate, before the number came out, what is your read? on this participation rate and what do you want to say in terms of the impact, that this will have on markets stephanie? >> turns out labor force actually -- drew in 100,000
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people to the labor force, that pretty much neut are neutralities those that dropped out i think you to figure out what is keeping so many on sideline we have two months into expiration employment people rushing back into labor force last month the notion focused on fiscal policy had on keeping people on sofas, and not looking at the monetary policy as what he bubbles all over the place with massive appreciation, and 401(k)s not to mention whole price appreciation millionaires all of this maybe a factors but not paying people to rush back into labor force i guess suggests pressure on wages is going to continue as you and i talked about at length, i think that
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sets up a real problem for -- as we go through the end of the year and looking into 2022. maria: it is great insight from you instead of to me the participation rate now 61.6%, where are the jobs, joanie i have given you a few minutes to scratch through these numbers here to identify where the jobs are, right now. want what can you tell us? >> maria, the hottest sectors right now are real e-commerce and logistics, there are so many opportunities. we speak to thousands of employers across the country two with biggest issues they are having is labor shortage, and then the increase in wages, that to having offer to stay competitive but there are tremendous amounts of job openings up a sectors across the board not just supply chain, you see, health care
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the professional business service sector, of course, truck drivers, is one of the most you know highest jobs in demand right now, is need for truck drivers certainly in supply chain. but health care, nurses, physicians assistance therapists, in ploy bridge our of division focused specifically on supply chain our wages are up 12% year-over-year for the worker, and, we only see that trend continuing, with the labor shortage, so, lots of job opportunities out there we are also seeing, more people come back into applying for job openings over the last four weeks so we didn't see that right away when stimulus benefits ended. but offer the last four weeks we are seeing an increase in
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applications, so hopefully we will continue to see people coming back into the workforce, participating because jobs are out there. maria: yeah john whose jobs shortages talking about made worse by this vaccine mandate, you've got first responders walking off jobs don't want the jab are your thoughts where we are waft looking at a numbers you see participation rate is at 61.6. >> that is exactly the number i am looking at, what jumped out to me about this report is you you mentioned the participation rate, the percentage of americans who are working to either have a job or looking 61.6%, that hasn't changed in the last year exactly where it was, a year ago. even though the announcement benefits rolled off even though, we rolled out vaccines the percentage of americans working looking for work has not changed, what that tells
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me an economy where the lights have not switched back on has gone to fundamental changes, and with vaccine mandates coming on we continue to have bottlenecks i think for employers, so what i get from this report i wouldn't call it excellent or great report it is just mixed, if you are an employer, this is a tough environment to grow your business, if you are a worker looks like more options out there a lot of openings wages rising that is all good but there is something about the environment, that you are just not running back out there, to get a job in. so, you know. it is a puzzling report amazing that a year into this, you know recovery or whatever you want to call it, people are not storming back into the labor force that is the headline for me. maria: maria. >> i agree with you go ahead steve. >> i want to add something to what john was saying i was
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looking last night at labor force data participation rate data over the last nine months does not include the numbers we got today but i don't think you will see any trains changing the track the big problem right now in terms of labor force participation has been a big drop-off maria, people over 50 between age of 50 and 65, you've got to wonder what is happening there, i think a lot of people, who you know got hit by covid maybe lost jobs, they are not going back to the jobs that they had before. and then scratch your headed wonder what is going on i that i couple factors, one is people just retiring earlier, now than they used to a bad thing for the united states we want people to continue to be working but the other thing there is a wealth effect massive increase in stock market you reportedly every morning maria, people are feeling richer when they have more money in their 401(k)s retirement accounts they don't feel rush to go back to a job
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neighboring they didn't like so much being a truck driver we have to concentrate between ages 50 and 65 where big drop-off in labor force participation. >> look at numbers trading transportation, jobs, up 104,000, hospitality up 164,000 right there two items indicative of what is going on lisa ericksons hospitality reopening, trading transportation with shortage of truck drivers. >> absolutely, i think if you look back to this month compared to last month what you saw was there were a restraints in activity behavior, because, call back to what happened four weeks ago, really there was a situation, where continuing to be -- more impactful than today so what that is really allowed is, for example, as you were pointing out service sectors to come back as well as the logistics to continue to grind, that is really
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encouraging, and i also wanted to point out i think on participation i would agree that is a -- longer term issue to watch beside near term effects of perhaps taking longer for some incentives you know extended savings came from fiscal stimulus to a series of questions to steven's point when some behavior will change longer term whether it is retiring early or feeling maybe want to live on one income now, that is something we want to watch in the future although again nice to see that headline nonfarm payrolls number come back. maria: a great point that you make, dagen. dagen: i want to point out a couple things case john brought this up about, what the damage will be to the workforce with the vaccine mandate starting early next
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year, the kaiser family foundation in survey found that more than one third of unvaccinated workers or 37% said they would leave their job if employer required them to get the shot, or even get tested every week, one quarter of adults say they already know somebody who has left their job because of a vaccine mandate. and it is a small number of people when you have 80% of adults in this country over the age 18 already gotten one shot, but you are still talking about -- in journal editorial page today notes only one to 3% of workers if they leave because of the mandate employers struggling to replace them on good note this week national federation of independent businesses, monthly employment report, found that a record number of small businesses were raising compensation last month in a record number plan to lift
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wages in coming months should surely help get people off the sidelines feels inflation -- but, again, if wages are going up, would it certainly help with hiring, and would help offset the impact of inflation on people's every day lives and their spending. maria: stephanie tomboy you have been very westernized about impact of inflation the policy mistakes that you've outlined, many times, how do you read this report, what do you want to do as investor at this point? >> again, to sort of reiterate what i said earlier i think more pressure on wages, as people are -- coming back into labor force, and you know that is against the backdrop of a -- huge increase in -- for businesses, the cost is accelerating rate that is
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double, cpi, to pass on this -- there is a lot of pressure on companies are navigating around by bringing out efficiencies, and trying to pass on price increases to consumers but reflected by numbers able to pass on some but not all of them, i think that, you know, we will see what happens in washington with stimulus bill. but looks like in this the employment, unlikely increasingly unlikely there is going to be able to get anything together in which ways going to alleviate some of this, hopefully, you know, bring people back to work, on the other side it is going to take away checks in the mailbox enabled so many companies to actually get some pricing power, so really i mean one headed for a choppy
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environment, my concern is maria, the market is making zero you allowance for any risk the presumption that companies will be able to pass on higher costs wage pressure ad infinitum, i think very unlikely especially with at the personal saving rate having been drawn down exactly where it was pre-covid, i don't know people want to go further into dipping biosavings to accommodate, higher prices. so -- >> that is i did not realize that the savings rate is all the way back to pre-covid i know that it was a period, of socking away money but they are using that money, to spend. >> yesdrawing down savings rate to exactly where it was and, again, you know they expected, prior building up that level, so i -- really
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willing to deplete saving they wording so hard to build over that bubble, period but time will tell. >> do things change an awful lot with fed the cutting bond-buying program 16 billion a month. >> here again, i think that a -- tightening, taper isn't tightening but supply and demand, precioused market issuing three trillion a year, tapering purchases is going to put you upward pressure on bond yields, and i think that is going to become headwind for stocks that the markets are not taking attention to whatsoever. >> not at all -- we've got -- >> yes -- >> -- dow industrials up 135
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nasdaq, s&p 500 once again uncharlesed territory they will open at all-time highs. >> that is largely because 10-year treasury no higher than 1.53%, the bond market know tapering about to begin? that we have well above average inflation risks like mind -- to problems down the road i think that, 1.53% reflects some worry some concern, on the investors as to what becomes a proficiented not next couple quarters but later in 2022, stephanie is right you have rising costs, very well might be that comforts begin to rise more rapidly than revenues margins get squeezed, in 2022 you are
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going to see year-over-year declines by after tax profits, because of unsustainability where profits of currently reside. >> in face of all this jon jay powell at the white house yesterday a lot of vetting on wall street whether or not o he will be reappointed to fr, you heard from two people now already, that tell me they do not believe that joe biden is going to reappoint jay powell what is your take what will impact be if that is the case? >> well, there are stories circulating not only about him being at the white house but potentially going up, to the hill to meet -- he capitol hill to meet senators would suggest going to be reappointed i don't know i don't have more information than anyone else has. but certainly he has been at the top of their list, and you know i think if biden wants to reach out to republicans, jay
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powell is the republican, if he wants to stability continuity jay powell is at fed seemed logical choice, i want to say one other thing about the market, that stephanie and john talked to markets are complacent or telling us something, they might be complacent, if telling us something what they are telling us is this, the bond market yield is very low has been below 2% wherever you look, out 10 years seven years, five years. the signal is the market is not worrying about inflation, we talked about it allotted on cable television, but the market doesn't seem worried about that, it i might be complacent might know something. in terms of stock market new highs all the time, it might be comurntr you exuberant, low inflation strong profits if you have money in the markets you are doing pretty well
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right now, so, that is a pretty good environment to be in, if you are a small business owner you are trying to get a worker that is a different story. maria: that is absolutely a different story, as you've been telling us what can you tell us about small businesses right now? >> well, the small business are going to be in a position to have an advantage very soon with new mandate maria, because the new osha mandate is requiring employers with 100 employees or more to mandate that they have vaccines or to have weekly testing. in my opinion that is going to cripple the mid to large sized employers that are already struggling with labor shortage that is going to be a big problem. small businesses will have the advantage if they don't have to comply if they have less than 100 employees, and they may be able to attract workers
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to their businesses, so it could be a bit of advantage for them, but this mandate and i don't think we are talking even about it i enough. this will have an impact on, on earnings, it will have a -- business are going to be crippled, by even managing through this forget when they lose a third of workforce their still spending millions and millions of dollars, trying to manager manage administrative costs he determining who has vaccine who has been tested think of every business in the business going to have to do that that hasn't had to do that before this mandate by government is really going to be a big problem, and i think we need to fight it. maria: at a time we are in a pandemic losing first responders like nurses firefighters, who are critical to recovery, and helping get through this nancy tengler
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looking at stocks, trade higher this morning on this report hotel stocks up across the board on that hospitality note hospitality jobs up 164,000 in october. nancy: yeah, i think any all guests made great points there are risks to the market take a look at capex numbers not only in economy but especially in x, i think going to continue to drive productivity o even though got -- lat month will allow companies to, you know, maintain margins wages, i say one more thing er we are smaller than 100 companies put ad in got 100 qualified recess mace went through them interviewed hired someone i think that is correct, that potentially smaller businesses are going to have ab advantage, so, there is a lot of moving parts, it is hard to
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parse, i am optimistic. >> you are right moving parts steve moore on next policy we don't know if we are in fact going to see four plus trillion dollars come at economy in the next year, or not, because nancy pelosi trying to push this through despite voters rejecting it this week. >> that is what i was going to say maria, you read my mind, having debate about this blockbuster jobs' report meanwhile, this afternoon, latest reports are nancy pelosi going to try to push this bill through, there is a couple problems with this number one, wow, why even doing this? you've got economy nice recovery, still some problems obviously, not worried about inflation but you look at -- the fact we've got excess jobs, economy doesn't need for federal government pouring three, four, more trillion dollars into it the wrong thing to be doing somebody
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said if build back better get out of the way just get out of the way of this recovery i want to mention two other quick things, one is, in this bill, that they are going to vote on today, maria, it appears that nancy pelosi has put back in this four week of paid parental leave employers hate that idea will lead to real problems in workforce getting people won't show up for the job i talked to lots -- really worried about that, and the second point, i think that the biden administration what i am hearing is they are backing away from vaccine mandate it has become incredibly unpopular was an issue, in the virginia and new jersey governor races people felt intentionally about a 50-50 issue people opposed really strongly opposed so it. >> willing to walk off the job, with -- with a loss of
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benefits as well dagen mcdowell, wrap us up we've got a market trading higher in triple digits on better than expected employment number. dagen: this economy is on a better course with this jobs number, with the employment rate falling, we had nice sizable gains cross industries again where do week from here? do we get more government intervention? have this is what president trump did with rolling back regulation, get out of the way to juice the economy we are seeing the opposite i think with everything going against the biden administration, if they see fit, you get out of the way let animal spirited take off in the economy will be better off might see political gains when a political disaster certainly this week for the democrats. many. maria: to be clear nancy pelosi can get a vote if they sheals she can get votes o i don't think she has votes even
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if she does dies in senate without joe manchin, and kyrsten sinema buying into this we will be wauchg all that big that you to all of you, gate to see you all a great jobs friday with the market reacting to better-than-expected number 531,000 jobs added to the economy in the month of october dow industrials up 138. "varney & company" begins rights now stuart: good morning, everyone. i will start with the jobs report but i don't think it is the most important story of the day was waiting for you see the mess on the floor of the house of representatives. they are trying to transform your life and it is chaos. 531,000 new jobs, that is strong, better than the previous month's number that was revised to show an extra 235,000 jobs. unemployment rate 4.6%.


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