tv Varney Company FOX Business October 27, 2022 9:00am-10:00am EDT
maria: welcome back. minutes ago it was expected and foul thoughts here. >> something that isn't proximate cause and will ted, a viewer said biden said he supports oil and gas would not be believable and the companies wouldn't buy it. i take it back. maria: todd. >> i give credit to the guests calling me out, larry kudlow, and ask them to keep me honest. maria: we have a fed meeting tuesday and wednesday and a growth number after two quarters of contraction. >> yep and back to first quarter of next year and earning season is iffy if we're watching what's happening. maria: great to see you all. "varney & co." is next. stay with stuart.
good morning. stew: good morning, everybody. i want to show you the damage being done to meta, via facebook, following disastrous earnings report. selloff, where's the bottom? it's been flirting with $100 per share and down to $99 a few minutes ago. going the other way, some of the big named companies, which reported this morning. caterpillar is way up, $10, 5%. mcdonalds, honeywell all up. all three are dow stocks and they ask roughly 150 points to the industrial average. i want to check apple and amazon, they report after the bell today following disappointing results from microsoft, google, and meta, they are under some pressure, big tech is not doing well. >> big news a half hour ago and the economy expanded 2.6% in the third quarter of the year and that's the july through september period and that produced an up tick in stock prices and the dow will be up
about 320 points if all goes well and things stay the same. the -- it's been heavily influence bid the three dow stocks and the nasdaq is down just 18 points. it's influenced heavily of course by the 20% drop in meta. interest rates, where are they now? on the 10 year treasury, 402 and yield on 2 year is 4.41%. that's down today. all right, politics, the democrats are trying to reframe the inflation and crime issues. maybe too late. speaker pelosi now wants the democrats to be the party of public safety. that's a tough about turn. the democrats own the defund the police movement. down to table talk, kitchen table talk and calling fees and charged by banks, credit card companies, cable companies and airlines. maybe some of the fees are
unfair but ending them does not make a dent in inflation. we've got a big show for you. musk walks into twitter headquarters holding a sink. he wants his ownership of twitter to sink in. oh boy. we'll show you an unprovoked bear attack for some blame on woke policies. got to see that. thursday, october 27, 20 -- worldyeah, it's on the show. thursday, october 27, 2022. "varney & co." is about to begin. >>
stu: didn't she win american idol? lauren: yeah, the first winner. i have a google in front of me. stu: settle down, everybody. we have serious tough. we're 12 days from the midterms and after tuesday night's debate in pennsylvania between oz and fetterman, the real politics average has him up by one percentage point. lawrence jones at a diner in the state. lawrence, you've been talking to the people there and what is their take on fetterman and tracking? >> reporter: good morning. they're upset about the economy and it's the crime, it is the border because of the fentanyl that's coming across the border and how that impacts their young people and just every day
residents here and a lot of talk about that debate performance because a lot of voters feel like they were robbed with a true opportunity to have two candidates with contrasting views to have a strong debate. they feel like the democratic party as well as leadership hid the condition of fetterman. as you remember, stu, a lot of people had these questions during the primary, where is he, what is going on? say said everything was fine. it was covid and it was just creating sis dance and all this -- distance and all this nonsense and finding out he did absolutely have a stroke and we know that that is impacting the way he's running his campaign right now. we saw that with his performance on the debate two days ago. the thing is though, stu, some people already cast their vote so it's not one of those things they can undo after they have more information. they did it and now they feel like they were robbed in a sense to be able to get a real debate
on that stage that night. i'll send it back to you, stu. a big issue here in the swing state of pennsylvania. stu: and so it should be. i see doctor dr. oz is catching up and that poll was taken before the debate. that's important. lawrence, thanks a lot and see you again soon. look, big tech is very much the focus of most investors these days. that's big tech before the opening bell today. most of them down sharply. gary is joining us and has come to new york for this. it's a very big deal, folks. gary, look, google, microsoft, meta awful performance, all of them straight down. would you buy any of them? >> negative. what you have is some of the most overowned and overloved stocks that their business is heading south. when i mean south from strong growth rates, four quarters ago, google's earnings were up 45% year over year. this quarter minus 15%. meta, their earnings started
dropping a year ago and now a whopping 49% drop in earnings and for me the most amazing part of it in the conference call last night, mark zuckerberg, oh, we like the trajectory we have. i'm like, wait, are you looking at your stock prices, dude? stu: really. >> microsoft better than the rest but their earnings from the 20th, last quarter only 4%. in order to get things going again, reaccelerate is needed but right now the market is the market. you know, momentum is to the downside and we get 20% of the nasdaq 100 tonight with app and will amazon and that'll be -- apple and amazon and two more where earnings and sales decelerated and see if there's anything decent to say going forward. stu: what about your clients, aren't they coming at you saying, gary, gary, put me in the big tech at the lows. >> heck no. the last two stocks in bull market were microsoft and google and sold within 3% of the highs and saw the market topping and saw some deceleration and little
did i know what damage would be done but that's what bear markets do and takes things down to what we call normalized valuations from high valuations and where she stops, we don't know at this junction. i think believe it or not, i still call it facebook, i think there's more to go on the downside even though it's been crushed. stu: real fast, what are you buying, if anything? >> the strongest areas are managed care like hmos, got another good report out of molina health and it's a very narrow market and great example to be selective and mcdonalds opening up near yearly highs and it's a bear market and restaurant stocks at new year lows and really have to be on your game. stu: gary, i should have listened to you back in november ovlast year, you told me to get out of microsoft at the high and i didn't. i'm still in in and lost a fortune but it's great to have you on the show. >> it's still a great company
but they've got to reaccelerate the business. case closed. stu: i'll tell them. elon musk is planning to close the twitter deal by tomorrow. he's got a new name for himself, hasn't he? lauren: chief twit. stu: i thought it was king twit. lauren: chief twit and updated his twitter pro file, that's how we know and there's video of him walking into twitter san francisco headquarters carrying a sink. is this deal even happening? it is, it's happening? stu: looks like it. the banks started moving the money. the process has begun. the fact is he's wildly overpaid and he's left with a junk company he's got to turn around somehow or another. lauren: and he carries in the sink and the banks say we're starting to deposit the $13 billion and we'll have a deal by tomorrow.
>> he spent $2 for a $1, simple as that and see how it goes. >> he should be carrying a sledge hammer in, not a sink. lauren: he did say, remember that report that he was going to cut about 5,000 workers and he said that's not true. he needs to make nice with the staff. he's going to be in charge of them now. is this deal really going to happen by tomorrow's 5:00 p.m. deadline with everything we've seen so far from elon musk, this looks too good to be true. stu: okay, we'll follow it through, see what happens. president biden now acknowledges that inflation is affecting the average family but he's down playing how bad it will be for them. roll it. >> one of the things that i think frustrates the american people is i know the world is in a bit of disarray and they want to know what are we doing. there's a lot going on that we're doing. it adds up. take an average family who's
going to go visit their mother or father for thanksgiving, what's the charges they're going to come home from -- there's a lot of money. stu: well, he's getting kind of confused there. >> are you inspire bid that. don't you feel better by that? wow, what a message toes american people. things are okay, they're going to get better because they're doing a lot. you just don't know about t stu. stu: real close. >> in an administration of bad performances, was that maybe the worst economic messaging you've ever heard out of this president? stu: it wasn't good and i don't think this president can do anything about the rate of inflation going forward. he can't reverse it. can he? >> he can't reverse it. i don't think he wants to. stu: oh, yes he does. >> no he doesn't. he would do different things, stuart. he would not be doing what he wants. stu: the left won't let him pump
more oil and frabbing for gas. >> it's his left. stu: for a professor, you're tough. >> student i'm not the one that -- stuart, i'm not the one that didn't sell microsoft at its lows. stu: it's my show and i'm getting benched here. the dow is up nearly 400 and nasdaq down 15. president biden on a crusade targeting hidden junk fees. roll tape. >> some airlines, if you want 6 more inches between you and the person in front, you pay more fees. these are junk fees and their infair. stu: not sure ending junk fees will impact inflation but we'll discuss it. congressman kevin brady telling us what the republicans will do if they take control of the house and senate. that's next. ♪ -z
i started cosentyx®. five years clear. real people with psoriasis look and feel better with cosentyx. don't use if you're allergic to cosentyx. before starting get checked for tuberculosis. an increased risk of infection, some serious and a lowered ability to fight them may occur. tell your doctor about an infection or symptoms or if you had a vaccine or plan to. tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reaction may occur. best move i've ever made. ask your dermatologist republicans will "crash the economy if they win the midterms". peter doocy at the white house. all right, peter, maybe the president knows a recession is coming and wants to jump in first to blame the republicans. what do you say to that? >> well, it's been interesting the last day or two to watch the president roll out these plans that are designed only to nibble at edges of higher places and inflation.
yesterday they billed a big announce want as one that -- announcement as a policy to give people a little more breathing room and wound up being about targeting junk fees at banks and other companies. the officials here would much rather talk about republican plans. >> the congressional republicans are not hiding the ball. they've been very clear about what they're going to do if they indeed take control; right, which is paducah put medicare and social security on the chopping block and if you do that, inflation goes up. >> the republicans and many lawmakers are looking to to set an agenda for a new congress are not really focusing on any of that and greater foe suspended ands appears to be -- focus on energy production in the u.s. and particularly now that the biden administration tried to failed to get the saudis to cooperate. >> i think they should use the power of the purse to demand the kind of regulatory changes new
permitting, new leasing on federal land, open the alaskaen national wildlife region back up for exploration and to your point, larry, let's get back to authorizing the kind of infrastructure that will allow for us to develop pipelines. >> as days run out for president biden to get involved to help democrats in the midterms, he host add few virtual fundraisers last night and he's not barn storming, he's zooming. stu. stu: that's a good one. not barn storming, he's zooming. very good one, peter. see you later. >> thank you, student stu: you're welcome, son. congressman kevin brady ranking member of the house weighs and means committee holding the pursestrings joins us now. congressman, i'm sorry but i have a bone to pick with you. >> yes, sir. good to see you too by the way. stu: good to see you too and great to have you on the show. i understand your party is looking to get the debt ceiling
to get spending cuts from the administration. i don't think that works but really annoys people especially if leading to a government shutdown. you get the blame. >> yeah, i don't -- i expect our debts to be paid and on time. this won't be 2018 where speaker pelosi and democrats voted to default on our debt and we'll have a adult conversation about what is the trajectory of our deficits. is there a way to both spur growth and put some common sense guardrails around spending that would get us in a better place? that's how i predict that will go, and i will do while we're on the conversation, i heard the claim about republicans social security, medicare. i would point out that's been fact checked as false with four pinocchios and democrats are a little desperate. stu: people are indeed struggling with inflation, that's for sure: you say taming inflation is front and center. how exactly are you going to do it? >> yeah, so part of our commitment to america is an
economy that's strong and what you'll see house republicans do is focus on less government spending, less taxes and regulation that fuel inflation under president biden and more american made energy, more workers reconnected to their jobs and more innovation and supply chains that lower inflation and so you will see basically republicans take the opposite tack of this president who today we just saw new report that the average pay cut for americans because of biden inflation is the highest in 2025 years and it's a month's worth of their salary so today, they are digging into their savings, skipping meals, delaying retirement, their nest egg has also gone down by about a quarter so most americans know joe biden's economy is a very cruel one. stu: would you agree with there: no matter what you do, no matter what the administration does, we're going to have at least a 6% consumer price inflation rate for the
foreseeable future, would you agree with that? >> you know, i think because the president's actions and the federal reserve, i think that's likely. unfortunately we shouldn't be in this and i think today's economic report points this out now, president biden has missed expectations in six out of seven economic quarters he's led. even though those numbers have been dumbed down over time and it's because he drove inflation, this worker shortage so hard and frankly has no plan to get out of it at all. unfortunately i think americans will pay a very steep price for his economic failures. stu: congressman kevin brady, it's a real shame you're retiring but we do understand these things and hope you can come back and see us before you actually walk out of congress. thank you. >> we will. we still got work to do, stu. stu: eyes, we do. thanks very much, kevin. now, a new report reveals the most expensive cities to rent n. it's got to be new york. lauren: correct. the median price of one bedroom goes for $3,860 a month and you
can see boston and san francisco also above $3,000 a month. the national rent, the median, half that. look at this, just under $1500. but these are eye popping numbers, especially in some of the bigger cities but overall rents fell because there is fear of recession. stu: really? lauren: hot inflation pricing many folks out of the market and abandoning living on their own completely and mo moving in with their parents again. >> prices have gotten so high people are saying am i going to rent in new york city by myself or am i going to get the roommates or move back home with parents. i mean, high prices do have a corrective effect and they've gotten really, really, really high. even if they come down a little bit, man, they're still biting into people's paychecks. stu: median, $3,800 for one one bedroom. lauren: and the size is probably 800 square feet.
>> why are you describing my house? i don't appreciate you describing my house. stu: futures please. put them on the screen. a 300 point gain for the dow industrials, a modest comal loss for -- small loss for the nasdaq. that nasdaq loss is taken up by meta that's fallen out of bed. the opening bell is next.
>> will the markets rally if the republicans sweep? >> yes, absolutely and the data bears that out. i can make it even easier for you, stuart, markets always rally after midterms. typically you get a 7% rally for november and december, no matter who -- stu: no matter who wins? >> yes, because you have clarity and a 7% gain november and december no matter who wins versus typically 4% in non-midterm years. and now it gets better, if you have a republican congress and a
democrat white house, over the next 12 months, you have an average 14% gain versus just 9% if it's not that combination. so it's actually very good for the markets if we see -- even if republicans don't sweep and only take the house and don't take the senate, that still is enough to get you to that 14% because you've basically created a status quo, a do nothing government. stu: if you get that do nothing government, paralysis if you put it like that, which stock groups do best? >> well, because the republicans are likely to take the house go with what always works under republican administrations, oil, the opposite of democrats. defense, strong defense ask that's very republican. and also the banks because you have a less inclination towards regulation under a republican congress. those three groups, oil, defense
and more. stu: 2% annual economic growth in the third quarter. >> it confirm what is you and i have been saying for several months and i came on your show and said this. we were already in a recession and we're coming out of it. that's the good news as an investor. now, i recognize that there's some sort of political subtleties to this. if you're a republican, you probably want bad numbers because it helps -- stu: i don't. >> it helps the case and democrats want the obvious and hear the white house talk about how strong the economy is and the republicans are going to screw it up. there's that narrative and i'm an investor and my job is making money for any investors and clients. stu: in 15 seconds, tell me whether or not you'd buy big tech now >> yes. any of them. they're so depressed by any of them, they'll all go up. up. stu: the guy sitting there said i wouldn't touch it with a 10-foot pole.
>> i know gary and thinks the world is coming to an end. god bless gary. i love him and respect him. stu: bring him back. all of the dow 30 and we've got 27 of them on the upside and that's a nice gain and dow is up over 1%. app 18 one of the losers, how about that. show me s&p 500 please, that is up better than one-third of 1%. not bad. nasdaq composite up 0.10. that's because big tech or meta in particular is down sharply. look at that, meta is below $100 a share and it's down 23%. that's what i call falling out of bed; right. now, let's have a look at caterpillar, i call this an economic bell weather and looks like a solid gain and it's a dow stock of course. why is it doing so well? lauren: demands higher prices of all the heavy equipment to companies and it was a $15 billion sales quarter. where's the recession? >> thank you.
lauren: if caterpillar provides the tools and equipment for the home builders and miners are reporting big demand and stock up 8.4%, that's good for the economy going forward. stu: and caterpillar is adding, what was is again? 10? 121 points to the dow industrials. that's a big chunk of the gain. tell me about mcdonalds, they're higher as well. lauren: 2.3% and reported higher traffic so more people are going in. they did increase some prices but i think mcdonalds is still a value compare tyly going to wows panera orache possibility lay and the changes -- chipotle and might have changed what you got and maybe it was a combo and i don't know exactly how much that costs but it has gone up. more people are now getting the value deals. so like one item that costs less. stu: not intimately familiar with mcdonalds menu.
>> i understand that mcdonalds has hamburgers. lauren: i just went in and they have -- i've seen this in a few. they have kiosks that you order for yourself and it's the most annoying thing in the world. you don't want to deal with it, it's easy but annoying. they're doing that to save money to not pay their workers as much. don't have to have as many cashiers. stu: all good. mcdonalds up 2.5%. lauren: it's a dow stock. stu: thank you very much. fill out my sentences as i get older. holly well. lauren: another dow stock. stu: there she goes. give me 20 seconds on them. lauren: aerospace, they raise their 4 year profit forecast and backlog is good and demand put them in the same category as caterpillar. stu: ford. is there a problem with the invest want in driverless cars? lauren: they do? stu: why is the stock up? lauren: it's up a bit because numbers were better than expected but reported a big
loss. $827 million. why? still can't get parts that affected about 50,000 cars in the quarter and spent $1 billion more to get those parts and this is the other thing, the argo ai is their automated driving business with volkswagen shutting it down. stu: why? lauren: the ceo said to be profitable at scale takes time and money. it's a long way off. it's like a science project getting into a driverless car and has to pass the do people feel comfortable and regulators feel comfortable. stu: would you -- anybody around this table, would anybody feel comfortable jumping into a totally driverless car and you're in the backseat in new york city going all over the place. would you do that? >> not for all the money in the world. >> plus driving is fun. i like driving. i want to shift and i want to drive. stu: not in traffic. 45 minutes to get in the lincoln tunnel, you don't want to be in a driverless car.
>> there is a place however for driverless vehicles say in factories, forklifts, you know, that are moving parts around. that's the place for them but not on the streets of new york. >> that's a totally different thing though. totally different than what they've been talking about. stu: voice of reason right there. big rally for teledoc. they're a health services company. lauren: yeah, but the barfs so low for this company, the stock is up nicely today, down 70% this year and still losing money, just not as much morn and then they have a mental health unit and that's doing well. there's a big focus on mental health right now. stu: what's next? apple and amazon. they report after the bell this afternoon and they're both down leading up to that report. lauren: let's do apple first. so the big number is their sales, revenue is going to come in shy of $89 billion. about half of that will come from the iphone, $43 billion. $20 billion from services. i think there's two questions that we need to ask ourselves.
remember they just raised prices for some of their services, apple tv plus, apple music. do they have that pricing power? are those services still that popular? stu: good question. lauren: demand for the iphone 1- stu: down. lauren: right, but not for the expensive models. does that change? they're a big picture of people willing to spend for great products. do we stop? stu: but 148 on apple. that's it. amazon is down 2% in advance of their report this afternoon. what's their problem? lauren: profitability. stu: oh. lauren: two straight quarters of losses can they reverse that? they're expected to. the numbers aren't expected to be great, but they are expected to be profitable again and sales are expected to rise 15% to $127 billion. for them, labor. labor, labor, labor, they have the unionization pushing and spending another billion to pay their workers $19 an hour. i mean that's expensive. stu: i would vascularized thought reporting a -- have
thought reporting a 2.6% annual growth in the last quarter that amazon would do quite well in an expanding economy. i don't get it. >> 2.6? out of amazon. lauren: overall gdp first quarter. stu: the economy is expanding again, 2.6. lauren: it expanded so much during the pandemic and it's renting out some of the warehouse space to other companies because it doesn't need it as much. >> remember, there was a concern several months or quarters ago among target, wal-mart, and amazon maybe we'll have to go back into more covid lockdowns and maybe another variant. ahead of that they preordered a lot of stuff and turns out, we didn't so we didn't buy it and they're dumping that stuff. trying to cut prices and that has had a big impact. lauren: pays to be a consumer right now. stu: they're killing me in my ear because we're running over time. thanks, everybody. we've been covering the violent attacks happening in new york city, but i guess the hosts of the view have not seen our coverage.
roll tape. >> new york is one of the safest cities in the country, it has a 5 -- >> do you feel that? i don't feel safe in new york. i live in the city and don't feel safe. stu: okay. new york's governor hochul, also said new york's the safest big city in america. i guess she does not ride the subways and then there's this, taylor swift antihero music video being accused of fat phobia and the backlash forced apple music to remove the scene. more details coming up. ♪
interesting point on the gdp, up 2.6% on annualized basis and market went straight up after that report was issued about an hour ago. twitter, listen to this, elon musk just tweeted out a statement to twitter tierses. what and -- advertisers and what did he say? lauren: i stand corrects because he's talking to advertisers and he said the reason i acquired twitter is because it's important to the future of civilization to have a common digital town square where a wide range of believes can be debated in a healthy manner without violence. i didn't do it to make more money, i did it to help humanity. that said, here's the money line. twitter cannot become a free for all health scape where anything can be said with no conse consequences. he's going to put some sort of parameters on free speech. stu: what will he put? you have to have some content
moderation with any social media platform. >> he's going to do it. stu: i don't know what his parameters will be. he's going to tell us at some point. lauren: he's got to figure them out i think. stu: that's a tough job, ain't it? thanks, lauren. we told you about the prices spiking in car parts and repairs and that's why major insurers are hiking rates and ashley webster in florida, how much are the car insurance rates going up, ash? ashley: it depends on a number of thins and they're going up and i'll give you the details and depends on where you live and driving record and credit score and all of those things and i can tell you nationally already rates across the country are up 4.9%. i'm standing in front of bmw 330i, beautiful car and it's completely totaled. why, because this got flooded out in hurricane ian. you can't really see where that's where the water came up and about a foot of water in there. should have a brand new smell
14,000 miles only and smells now just like a rotten river. i want to bring in the owner here. he's the owner of supreme auto collision. jr, this is a car that's, you know, a beautiful car, worthless. >> it's worthless. i would explain to the people and they call me for advice, should they try to save the car? you know, if it's fresh later, there's a chance. when it comes to salt water, which we had on this parking lot, you can't save the car. >> reporter: inflation, very quickly, auto parts, you're in the business of trying to fix cars. inflation is out of control; right. >> inflation is out of control we know why but getting parts nowadays is normally when i would take three or four days to get a part, it's 14 to 16 days, which leads in the car business to the customer now longer in the rental car so now your insurance rates will go up as well. stu: very good, thank you very much, jr.
let me tell you, stu, the rates in florida have gone up 23% compared to last year and most expensive in the country and complete coverage costing over $2500 premiums we are year and most expensive in the country and there is having other ripple effects i should mention too. a company like geico that could have suffered more than a billion in vehicle losses because of the hurricane, they're now we understand cutting back on advertising for the first half of 2022 alone. they spent $539.4 million and that's down 40% year over year and will ripple out through the economy especially in the media sector and every time you turn on the radio or tv, there's some sort of geico -- the gecko talking to you and maybe not as much these days and rates are going up getting very expensive all because inflation and that's the bottom line here. certainly the hurricane did not help with those insurance rates here in florida.
stu: i'll miss the geico gecko, he's a funny guy. thanks, ash, we'll get back to you later. that was pathetic, wasn't it? thousands of boats were damaged after hurricane ian struck florida a month ago. transportation guy mike cordel is with and yous he's got the ft. lauderdale boat show underway and it's in the background there. look, the boat business was hit big time. are people prepared to shell out for expensive boats these days? >> well, good morning, stuart, hurricane ian reeked havoc on the marine industry with thousands of boats be e destroyed and hundreds of billions of dollars lost and the good news is i'm here at 63rd annual fort lauderdale annual boat show and i was here a year ago and back here days away from the midterms checking on the economy and we brought our fox sports team down to get more
detail on it and with interest rates up, there's optimism in the marine industry right now. from a florida standpoint annually, this industry brings in about $1.79 billion, and this is a five day show, stuart. you're going to be looking at north of $800 million in tank actions happening here and the good news it's everything from boats under $5,000 to supper i cican't tells -- super yachts north of $50 million. it's beautiful down here and i'd rather be no other place than visiting lauderdale this time of year. west marine, which is a massive retailer with 237+ retail stores, they just moved their headquarters from california to the yachting capitol right here in fort lauderdale. with the hurricane reeking havoc on the industry, there's a ton of optimism here in fort lauderdale. stuart. stu: brian, thanks very much indeed -- mike, i'm sorry. president biden says airlines forcing people to pay for extra leg room is racist.
that's not quite accurate. okay, that is not quite accurate. can i explaining this? lauren: please. stu: president biden wants to end junk fees because they hurt poor people and people of color the most. lauren: okay. stu: some of those junk fees he's talking about are payments for extra leg room on a plane. if you have to pay extra and you don't know about it, you're being cheated. that is something that is wrong according to the president. see what i mean? this question about oh, he says he races to that, that doesn't apply. lauren: it's because midterm is in 12 days and inflation is the top issue and listen to what he said and you can judge for yourself. stu: okay. >> some airline ifs you want 6 more inches between you and the person in front outrebounded pay more money but you don't know till you purchase your to the best of my knowledge looks folks, these are junk fees and they're unfair and hitting
marginalized people the most and especially people of color. hitting people and not consumers but working families. lauren: you think he's right? stu: it's not a question of right or wrong, it's explaining what the man is trying to do. he's trying to help poor people and people of color by cutting back on these junk fees. thanksgiving you don't know about which -- that you don't know about but have to pay. quick comment. i've got a break coming. >> the fact he's bringing people of color into this, that's not an economic analysis, that's a political analysis, poor people, people that can't afford it, fine. he's making it political here. stu: i'll give you that. lauren: that's not a way to tackle inflation. these are annoying but that's not how you tackle the issue of inflation. stu: we're a contentious bunch this morning. lauren: we agreed. stu: if you want to comment on this, don't forget to send in
your friday feedback. silence on the set. e-mail questions, comments and critiques at firstname.lastname@example.org. a look at the new york gubernatorial debate. >> i'm running to take back our streets and support unapologetically our men and women in law enforcement. >> i don't know why that's so important to you. stu: i don't know why that's so important to you. well, let me tell you. after that comment, governer kathy hochul avoided questions from the press but 12 hours later, she appeared on camera to say new york is the safest big city in america.le ben doninich has that one later.
stu: halloween spending expected to hit a record, $10.6 billion this year and madison allworth at the largest halloween costume manufacturer on the planet. is spending higher because of inflation, madison? what on earth are you wearing? super woman, that's it. >> reporter: i'm bat girl, stuart, i have to be in costume for this story. inflation making costume and candy more expensive but we're at the largest manufacturer of costumes and they say sales are skyrocketing. we're here with the manager you
have exclusive content deals selling to amazon, wal-mart, target, mom and pop shops this year. are you seeing more sales than years past? >> last year was a record year and this year will surpass that. >> reporter: one thing -- i'll show you some costumes. top gun, bat girl, bat man, elvis. what does that say about the consumer today? >> what people are really unsure of the future, they look to the past and what we're seeing is people are love hag they've loved forever. when they see the movies on streaming, they're wanting more of it and coming back to the things that make them feel warm and fuzzy. >> reporter: we'll seize in one final question, no time for question but one final shot, stuart, dogs, one in five dog owners, they dress up their dogs and dog costumes skyrocketed in popularity and who doesn't want a cute chucky like that and start with bat girl and chucky and leave it there. back to you, stuart. stu: thank you indeed and see you again later. lauren: she's wondering how she got this assignment.
stu: we many a wonderful hour, thank you, everybody and brian for stay withing us. >> you're superman, stuart. stu: coming up, we have more in the 10:00 hour that's next for you. ♪ .. i just glance at my phone, and there's my glucose number. wow. my a1c has dropped over 2 points to 7.2. that's a huge victory.
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