Brian Fox NEWS alert October Brian Fox NEWS alert October job report released Ainsley, six hundred and thirty eight thousand jobs added last month, more than the six hundred expected Steve down from seven point. Nine percent in September lets bring in Stuart Varney host of Varney AMP Company on Fox Business, Stuart theres, good news in there because we are digging ourselves out of that hole caused by the pandemic. I think at this point we are two thirds of the way out of the hole Stuart. Well, you can put that number anywhere you like, but this is a very strong report. Let me draw your attention to that six point: nine percent unemployment rate. That means that is half the unemployment rate that we saw in April. It was fourteen point seven in April its six point: nine percent now thats a very strong comeback, and six hundred and thirty eight thousand new jobs reported well add onto that. The fifteen thousand

extra jobs were just counted for August in September its a very strong report. Unfortunately, it lacks political significance because the numbers come after the election had they come before the election. Maybe it would have given president trump an extra shot in the arm. They came afterwards Steve. The president got the big thirty three percent gdp- the big number last week, but that really didnt help him Stuart thats. True you to point out. This is definitely a v shaped recovery. No doubt about it. We went straight down because of the virus and the shutdown weve got straight back up again. Now that we are emerging from the lockdown by the way, Steve Ainsley and Brian, I think the numbers today could have been even stronger had it not been for the lockdown restrictions that we are seeing in the big population states of California and New York. We are doing very well on the economy. Ainsley yeah, some people predicted that would end after

the election Stuart. What would end the lockdowns? I would like to see the economy open up and I think, thats what we will see as the months go forward: Brian Pandemic, as over a hundred thousand infections a day. This is serious stuff and we have to learn with it. I dont think Europe has the answer, shutting down all major countries for at least a month, unbelievable Stuart. May I just point out when you lock down youre, not counting the social cost of all those people cast out of work, kept in maybe nasty situation at home because they cant leave the house. We are not counting that cost and we should we should Brian the jobs that will never come back. Look at this Wall Street euphoria. They think theres a lot of theyies because theories, because a the blue wave will not happen. If republicans do not hold the Senate without the blue wave wall. Street loves it is that what

the rise in the DOW Jones is about Stuart, absolutely thats, precisely what it is about. We now know and pretty sure that the Republicans would keep control of the Senate. No big tax increase on businesses and no green new Deal Wall Street wants that they dont want socialism and when socialism was vanished in the election, and it really was, you have a nice rally. Look at 401K this morning. You have done very well this past week and extremely well. Since President Trump came to power four years ago, if you have a 401K lets, say a hundred thousand bucks four years, its worth one hundred and forty thousand or one hundred and fifty thousand as of today- and you should be happy because the Senate stays Republican, we may get a stimulus package before the end of the year, so says Mitch, Mcconnell and the Federal Reserve will keep on printing dollars like theres. No tomorrow the market is up Steve. You know, thats a sad

commentary Stuart what you just said, because you know we send people to Washington to get stuff done. But if, if Wall Street is euphoric because theyll be a democratic president, but a republican Senate to keep them in check, essentially youre saying gridlock is good for the economy. That is precisely true, historically thats being true of Wall Street okay, im not talking about the impact on everyday Americans im talking about the impact on Wall Street, but one thing that you have to remember here: theres one hundred million Americans who are investors theyve got a piece of the Wall Street action through their 401ks, their IRAS College savings. All of those savings in stock, usually theyve done extremely well. One hundred million Americans have a great deal more pension security because of what Donald Trump did for this stock market Ainsley. I understand why, when you give the numbers to make forty or fifty thousand dollars in matter of four years,

Stuart thats an average at the minimum, thirty thousand on a one hundred Grand Brian. What are you going to have three more hours when you go on.