Varney Let s have ░░░░░░░░ look at Futures Here ░░░░░░░░ how we open the ░░░░░░░░ in what 23 minutes ░░░░░░░░ 75 I m sorry ░░░░░░░░ 75 for the Dow ░░░░░░░░ 21 for the NASDAQ ░░░░░░░░ mixed picture Shah Gilani ░░░░░░░░ us this morning All ░░░░░░░░ Shah what s impact ░░░░░░░░ the markets from these ░░░░░░░░ GILANI I think it ░░░░░░░░ going to be positive ░░░░░░░░ it speaks to the ░░░░░░░░ of a Republican power ░░░░░░░░ I think in the ░░░░░░░░ congressional midterm election year ░░░░░░░░ up we are going ░░░░░░░░ see Republicans make further ░░░░░░░░ and I think investors ░░░░░░░░ going to appreciate that ░░░░░░░░ what it means in ░░░░░░░░ of taxation and certainly ░░░░░░░░ terms of corporate taxes ░░░░░░░░ that is always a ░░░░░░░░ for the market Varney ░░░░░░░░ this big spending bill ░░░░░░░░ forgot the number it ░░░░░░░░ 3 5 trillion that ░░░░░░░░ 1 75 trillion trillions ░░░░░░░░ trillions of dollars in ░░░░░░░░ spending if that gets ░░░░░░░░ surely that will be ░░░░░░░░ really big deal a ░░░░░░░░ for the market because ░░░░░░░░ s where all the ░░░░░░░░ increases are GILANI Yes ░░░░░░░░ know I think the ░░░░░░░░ has recognized you know ░░░░░░░░ the market looked like ░░░░░░░░ was rallying on the ░░░░░░░░ of all that spending ░░░░░░░░ the market seems to ░░░░░░░░ gotten a grip and ░░░░░░░░ that all the spending ░░░░░░░░ taxation and now the ░░░░░░░░ the potential spending bill ░░░░░░░░ the more the market ░░░░░░░░ it So the smaller ░░░░░░░░ gets I think the ░░░░░░░░ we re going to ░░░░░░░░ There is really not ░░░░░░░░ overhead that the market ░░░░░░░░ right now Very few ░░░░░░░░ one of them being ░░░░░░░░ Fed and what they ░░░░░░░░ the mistake that they ░░░░░░░░ make But other than ░░░░░░░░ our earning are great ░░░░░░░░ I think investors especially ░░░░░░░░ some of the you ░░░░░░░░ return of the Republican ░░░░░░░░ in some states and ░░░░░░░░ that remains to be ░░░░░░░░ but the take away ░░░░░░░░ me from the New ░░░░░░░░ race no matter what ░░░░░░░░ is that President Biden ░░░░░░░░ that state by double ░░░░░░░░ If if this is ░░░░░░░░ close race that speaks ░░░░░░░░ where Jersey eyes are ░░░░░░░░ vis vis Republicans and ░░░░░░░░ And that s a ░░░░░░░░ any which way you ░░░░░░░░ for the Republicans Varney ░░░░░░░░ You mentioned this is ░░░░░░░░ day we hear from ░░░░░░░░ Powell 2 00 o ░░░░░░░░ this afternoon got it ░░░░░░░░ it possible that Powell ░░░░░░░░ printing money because he ░░░░░░░░ the president to reappoint ░░░░░░░░ as chairman of the ░░░░░░░░ GILANI Wow That s ░░░░░░░░ s a tough one ░░░░░░░░ I wouldn t imagine ░░░░░░░░ anything is possible but ░░░░░░░░ would say no I ░░░░░░░░ t think that s ░░░░░░░░ really is his consideration ░░░░░░░░ I believe that the ░░░░░░░░ consensus from analysts and ░░░░░░░░ everyone is that the ░░░░░░░░ is going to announce ░░░░░░░░ they re going to ░░░░░░░░ tapering immediately as in ░░░░░░░░ month and they may ░░░░░░░░ a timetable for their ░░░░░░░░ I think now that ░░░░░░░░ already been baked into ░░░░░░░░ the market doesn t ░░░░░░░░ to have a problem ░░░░░░░░ it the market has ░░░░░░░░ rallying as we see ░░░░░░░░ it says OK if ░░░░░░░░ economy is doing that ░░░░░░░░ and the Fed is ░░░░░░░░ to taper then this ░░░░░░░░ the right time to ░░░░░░░░ it So so far ░░░░░░░░ good Varney Got it ░░░░░░░░ Gilani see you again ░░░░░░░░ Thanks very much, Shah.”