Transcripts For FBC Cavuto Coast To Coast 20240712

This just a correction or is there Something Else more insidious involved . I wouldnt use the c word. I would say this is profittaking pullback. That is all this is. Remember, the nasdaq, top 100, ndx were up 75 straight up off the lows. Even after this pullback were off 10 from the highs, theyre sill up 66 . Looking at the s p, right now as it stands is 50 off that march bottom. So the end is not near. This is just a profittaking pullback. This same situation is in place. Lets see how things react. Even with today, were only down 3 in tech. That is not much at all. What i like to see with vix. The vix has a lower high than it had on friday even though the s p had a lower low. That is very much a positive. David jonathan what do you think . The end is not here. This is just a pullback. We could be way up again momentarily after the pullback is finished. What do you think . Put me in the bear camp, you have 80 new, 20day highs, excuse me, only 8020day lows. And the pendulum is to the bear side. Were due for some risk off time. Im not one that buys it as our guest alluded to you never know a dip is just the dip or beginning after longerterm move. I think there are still a lot of pulls out there with a lot of call buying for example, out there, speculation out there. I think in a sense the next 1000point move of the dow is lower rather than higher. David alan, one thing long term that i have talked to investors about that they are concerned with are these lockdowns, these continued lockdowns in cities like new york, even though new york by the way has a virus rate 1 . David less than 1 for four weeks now. It has met all the goals but it is still locked down. Im wondering if the market factored this in because it doesnt seem as though, even with the current pullback . Im nothing but a price guy and this price pullback was warranted. It needed to be done. Markets have to pull back before they go higher. Im very much positive. If you havent been long youve been completely wrong. I dont things changed that quickly keep an eye on the dollar index. A test on likewise of the dollar index could be positive for stocks, bringing the riskon back into the game. I think this is temporary. We made alltime highs over rand and over and over again. Last week was holiday week. That is when things get thinned and market gets nudge ad little more than usual. Well see if people come back if the volume picks up. Jonathan is right as far as the brett goes, the breadth is only in a handful of stocks. You have to be a stock trader not an index follower because you have to find opportunities. David i will ask the producers to put the sixth avenue shot on the screen. Jonathan, ive been in new york for 40 years. This is the first tuesday after labor day i ever seen streets that empty. People are crossing without looking up and down the street. This is sixth avenue in manhattan. This is the heart of new york. The city supposedly never sleeps has been asleep for a long time now. The question, will it ever wake up. What do you think of the lockdowns. I know youre a technical guy. Talk outside of your lane for a second. What do you think of the lockdowns . David, no question, new york, other big city, metropolitan areas will be changed for years, even when we do get a virus david vaccines. Yeah a vaccine to the virus, if we do get a vaccine. There have been longstanding economic ramifications. Keep in mind that is what caused the downturn in the stock market and the economy. David right. Wasnt so much the virus t was lockdowns. Mandatory lockdowns. Populations like new york city and businesses here in will be take years and years to unravel without question. David alan, i think youre in chicago. Jonathan, talk about chicago, are you seeing the same thing there we see in new york. Interestingly enough, jonathan and i live in the same building in the heart of the financial district in chicago. David i didnt know that. Im at my beach house in michigan. I sneak out to get where it is. Streets are empty. Doesnt mean that the stock market cannot continue to go higher and higher. David lets leave on the big news. Not to diminish your views, jonathan. Nice to leave on a up note. Good to see you both, gentleman. Thank you. David 56 days until the election of the President Trump taking the message on the road. Is is set to tout the economic recovery in florida and North Carolina. Both joe biden and Kamala Harris, visiting the Battle Ground state of wisconsin in recent days. Joe biden is holding a Virtual Event there today. Blake burman with the latest on all the events. Reporter we expect to hear President Trump talk about the environment. Democrats said the president has been absolute disaster for the environment, pulling out of the Paris Climate Accord and deregulation. The president felt he is a steward for the environment and with it lifted up the economy as well. Right now the president , it was just about to get on to air force one as of about 10 or 15 minutes ago. Before he got on board that plane to head down to florida his very first comments to reporters once again were on the economy. This was part of the president s message yesterday on labor day, the unofficial start of the homestretch of a president ial campaign. Once again the president wanted to talk about, well, listen here. Were currently witnessing the fastest labor Market Recovery from an economic crisis in history, world history. By contrast biden presided over the worst, the weakest and the slowest economic recovery since the great depression. It was a long, slow, slog. Reporter while the president says we are experiencing a vlike recovery, joe biden and his campaign have begun to argue it is more like a k, with the wealthy experiencing stock market gains and those with lower incomes feeling the burden of layoffs and furloughs from the covid19 pandemic. President trump keeps talking about how great the economy is, how great the stock market is. The reason he didnt have the guts to tick on covid and threw up the white flag, he was worried if he started talking about saving peoples lives the stock market may fall. Reporter left side of the screen, richard trumka, head of aflcio aflcio a Virtual Event biden held with trumka yesterday. Biden will be back on the campaign trail tomorrow, david. He will be in michigan following up the president s trip today to florida and North Carolina, swing states, of course, crucial ones all. David you know these analogies have to be clear. If you have to explain Something Like a k instead, a v is clear. You dont have to explain. A k, seems too much president says its a super v. I guess you could ask what is a super v . David k is difficult, i think after breakfast cereal when i see a k. Thank you very much, my friend. Polls appear to be tighten in battleground states. Real clear politics average showing North Carolina within a percentage point and florida 2 age points. To founder tom bevin and gop fundraiser Noelle Nikpour with joe bidens lead narrowing in key states. Tom i want to ask you. You got the economy which fox business talks about all the time. You have the question of law and order which is getting worse and spreading to places like pittsburgh and rochester, new york, where we didnt think it would be going. You have the virus, you have ending the lockdowns. Which of these issues is causing a narrowing . All of them. David okay. No, there is a lot at play. Obviously the focus has shifted rather dramatically from the coronavirus to the law and order. Even biden fighting on that turf right now. The economy came back into play with the good jobs numbers last week. As you mentioned President Trump is now starting to talk more and more about the economy. Health care is another issue that is at the top of minds of voters around the country in all of the public polling. Look there, is no question, that this race has tightened. You mentioned florida. Bidens lead in florida at the beginning of the Democratic Convention was five points. It is now under two points. North carolina, as you mentioned under a single point. We had a poll out in pennsylvania showing that race two or three points. Another Interesting Data point, david, is that there was a poll out this morning among latino voters in florida by bendix son associates. Trump is actually beating joe biden among latinos. He is up 38 points among cubanamericans in the miamidade county. So that is one of the reasons i think coming out of the convention his message has resonated with latinos in particular. David noelle, let me ask, take the latinos, the law and order message resonating with them, the economic message . What do you really think is getting through to voters . I think it is both. I will tell you another thing, i read an article recently in real clear politics about suburban women, how trump is making an appeal to suburban women on issues like crime. Youve got to remember that in all of these big cities youve got a lot of suburbs that surround those big cities. It makes it, you know, it shoots it back home when you see your major city you live on the outskirts have violent protests. There is a big difference between violent protests and silent protests. Youre seeing a lot of vandalism, a lot of looting, a lot of murdering. Youre seeing a lot of these things. It is making suburban women which are very, very dependable voters seeing women think twice. They may not be very fond of trumps personality, but when you put safety and the economy, i think it trumps personality. I think youre seeing a shift back to trump. David tom, you have the shifting with regard to the democratic message on violence. They didnt say a word about it during the convention and even though biden came out said he is against violence. He hasnt been specific about blm or antifa, that sort of thing. Not only that you have rioting in rochester over the weekend. Cuomo who is not running for anything right now, his main spokesman came out called them peaceful these are peaceful protests what she said. These are people who go and throw dinner plates from people eating outdoors into the streets. That is not peaceful protesting. That message, the democratic message on law and order seems to be failing. Well, i mean remains to be seen exactly how much traction that trump will get with this message because i think there is a couple things. Trump if anything he is a real blunt talker and uses blunt instruments. David you think. Phrases like law and other. Focus groups and poll having shown suburban women in particular are interested in Public Safety. That is much more nuanced term. Less edgy term. That i think is something that suburban voters and suburban women are particularly interested in. Its a question of messaging. Biden has been trying to thread that needle look, because he has got a portion of his base does not want to hear him talk and condemn protests or condemn, or you know talk about the police in favorable ways. Both sides are trying to get the message right on this. It remains to be seen who will win out at the end of the day. David noelle you have the shutdown controversy. You have a lot of shutdown hypocrisy. Nancy pelosi gets her hair done without a face mask on. Gyms in San Francisco open to government workers, not private citizens. Does that worry people that he is not taking the virus serious enough . No. Not at all. What is really sad is you know, science is now become political. I never really thought i would see the day where we have a widespread virus that has become either democrat or republican. So you know, i think if, if you like trump and you like the way he handled the virus, then youre going to support whatever he does. If you dont, youre going to find a reason not to. But i really think going forward, pandemic set aside, covid19, set aside today, it is going to be the economy and crime. Now, saying this, once we enter into flu season, once we enter into, you know, midoctober, we could be talking about a totally different story if you start seeing a lot more cases with covid and flu and hospitals trying to report and decipher between the two. David if we have a vaccine in october, that could change things dramatically as well. Sure. David the president talked earlier by the way before we left on his campaign trips. We have tape play back of the president speaking. Here it is. President trump thank you very much. Great jobs numbers. You see what is happening with respect to the economy. Vaccine is looking very good. Pretty soon well talk about that a little later on. Were going to florida. Were going to North Carolina. Were doing a double stop. Well be doing some triples along the way but right now were in earlier stages. The poll numbers you saw are very good. Theyre really getting good despite all of the disinformation campaigns that the democrats run, pure disinformation. So were doing very well. Well have a good trip today. I will see you during the trip. Any questionses . Reporter mr. President reporter [inaudible] if i have to i would. We needed to spend more money up front because of the pandemic and statements being made by democrats were again disinformation. Weve done a great job with covid. Weve done a great job with the china virus, a great job. Whether it is ventilators or whether it is vaccines which you will be seeing very soon or therapeutics weve done a great job but the press was fake and we have to spend a lot of money. No, if we did need, we dont, because we have much more money than we had last time going into the last two months. I think double and triple. But if we needed anymore i would purity put it up personally. Like i did in the primaries. In the 2016 primaries, if i have to i will do it here. Because we dont have to. We have double, maybe triple what we had number of years ago, four years ago. Reporter [inaudible] talking about President Trump whatever it takes. We have to win. This is the most important election in the history of our country. We have a radical left group going around, these people, there is something wrong with them, there really is. There is something wrong with them. Joe doesnt have the strength, he doesnt have the mental capability to control these people. And you take a look what is going on and i i look pittsburgh, i look at rochester, i looked at l. A. Last night, i look at the democratrun cities. You look at portland every night. They dont have the strength, i dont think the democrats have the courage to control these people. Theyre afraid to even talk about law and order. They cant issue the words law and order. All we want is law and order. I put out something, the suburbs are coming big to us because the suburbs are next. If you elected this guy, the suburbs would be overwhelmed with violence and crime. So that is where we are. This is the most important election in the history of our country. So that is it. Well see you in florida. Thank you very much. David wait a little bit to zoo h see if he makes a final comment. That is clean departure by the president on to florida and North Carolina this is pretty much of a campaign trip. He uses his own money necessary to win reelection, that is how important this election is. He also mentioned the riots happening in various cities around the country, spreading to places from portland and new york, which we have come to expect over the weeks. To places like rochester, new york, protests there now leading to daily meetings between police and city officials who are looking to quell the violence. Fox news correspondent. Aishah hasnie has the very latest on all of this. Reporter hi, david, thats right. Rochesters mayor facing a lot of pressure these days not only from protesters who would like her to step down but the city council investigating looking into what she knew, how much she knew and when she knew it after five nights of unrest, protests were mostly peaceful on monday. A small group of protesters sat naked outside of the Public Safety building in solidarity with daniel prude, the 41yearold man lost consciousness in hands of police, lying naked with a bag over his head. He died in the hospital. His death was ruled homicide but the autopsy found pcp in his system. Mayor, lovely warren promised police reforms. She will talk part in daily Public Meeting with police and the city counsel. 300 miles just south of rochester, blood continues to spill in the streets of new york city. 28 people were shot between friday and monday. Including a 6yearold boy near a celebration in brooklyn. Police commissioner determine not che pushing back again there might be a nypd slowdown. He says that is not happening. Instead touting a 25year high in illegal gun arrests while admitting he is worried those arrested will wind up back on the streets. Listen. Putting themselves on the line every day as they have been. Were up in gun arrests for the month now. The problem is, there are too many guns out there. There is not enough consequence. Reporter david, as for the rochester briefing that will happen every day now that happens three later today. Well keep it an eye on it for you. Aishahdavid Aishah Hasnie thanu very much. Staffers for new York Governor Andrew Cuomo saying protests are peaceful despite attack on Police Officers and people sitting outside of restaurants. Former nypd Police Lieutenant Darren Porcher is here to talk about this. Melissa derosa, is top aid of Governor Cuomo. She sent out a tweet when the president talked about rochester and how awful it was. Sadly for this president a peaceful protest is a bad night. You look at what happened with that peaceful protest, not only the people that were sitting there trying to eat a dinner outside get a break in this lockdown, the owners of those businesses who have been struggling desperately to stay alive because of the illegality of inside dining, do you call that peaceful . Absolutely, in no way, shape or form do i see this as peaceful protests. Were looking at socioeconomic impoverishment plaguing our nation as it relates to the covid19 pandemic. So there is copious funding that is going into different programs and initiatives and when we look at the funding of police in connection with placing a moratorium on the violent protests it is really setting back that particular place, such as rochester. Many of these institutions, i should say institutions, many of these cities such as rochester, chicago, portland, seattle, have more so itemized as opposed to organized. When i say itemized, they look through monolithic lens and side with the rioters, as opposed organizing bringing in more comprehensive mechanism of police, Community Leaders and elected officials and that hasnt happened. I do see Something Different happening in rochester. Lets keep our fingers crossed. Because theyre now starting organized process of coalescing with police and the elected officials. David one thing that connects the violent riots with the street violence weve seen growing in places like chicago and unfortunately recently like new york and everything, the pullback of the police. The fact there has been either direct defunding of police or nonsupport of proactive policing. Is that the connective tissue between these two kinds of violence . I think in many aspects that is absolutely true. The defunding has somewhat been a referendum on policing, who subsequently is suffering the community at large. Many of these communities are under siege. They desperately need police. There have been polls taken throughout the United States that have introduced information that the Africanamerican Community clearly wants more police in their neighborhoods, however they want it done quintessentially. When you look to regress or defunding the police it is only hurting those communities as a result. There is a connective tissue as you mentioned between the defunding and meteoric rise in crime as a result. David you know it is, we know it is no secret it is the minority communities that are most hurt. The most of the people who are dying as a result of the nonactive policing that is going on there, as a result of pulling back police are minority communities. They are the ones suffering the most. The poll you cited by the way was a gallup poll showed 82 of africanamericans felt there should be the same or more policing in their neighborhoods than has been done. So, how can it be that the Community Leaders, the mayors, and the City Councils and, i have to mention that they are virtually all democrats that are pulling the police back, how much longer can they go against the interests of the people theyre supposed to represent . You know, thats the Million Dollar question in terms of how much longer than it can go. When i revert back to a place like new york city, mayor de blasio aligned himself with the protesting or faction driving the left. As clearly saw, it opened up a lane for criminals to manifest with unlawful behavior this is one of those things where we need applausessable solution to come from elected officials. Unfortunately the Democratic Party has not introduced that solution. And these populations are under siege. More so specific, the Africanamerican Community because these are communities primarily being plagued by gun violence. Therefore we need a solution but it hasnt been introduced by the democrat i cannilyelected officials. David i should mention one democrat who has been involved from the outside in politics for a while now, don peeples who announce he may be running as a democrat. He has been very supportive of Proactive Police, the kind that straightened this city out in the 1990s and diminishing of which is turning us back 30 years. There are some people standing up. The question whether it is the same in other cities as well. Well see. I lived here a long time. I love new york. I will not desert it. I will fight for it. I think a lot of people like me live here. Well make it through. Lieutenant porcher. Thank you very much for being here. Great to see you too. David thank you. Coming up, mortgage refinancings jumped 200 . Well tell you why, how you can jump on that coming up. So we can spend a bit today, knowing were prepared for tomorrow. Wow, do you think you overdid it maybe . Overdid what . Well planned, well invested, well protected. Voya. Be confident to and through retirement. Im a delivery Operations Manager in san diego, california. Weve had a ton of obstacles in finding ways to be more sustainable for a big company. We were one of the first stations to pilot a fleet of zero emissions electric vehicles. The amazon vans have a decal that says, shipment zero. Were striving to deliver a package with zero emissions in to the air. 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So Many School Districts across the country only offering Remote Learning which is why you have parents that are scrambling to find ways to avoid having entire semester online, i should say, zoom. Some families wealthy enough are uprooting their entire family to get those districts that offer inperson learning. We know from education week, there was a survey, 73 of the 100 largest School Districts across the country are offering only online learning. It affects eight Million Students across the country. Some schools are paying attention and are catering but at a hefty fee. Im standing at avenues, which is a private school in chelsea. They decided they were going to open up a second satellite location in the hamptons. Why . Because so many new yorkers have second homes over there and wanted to have the, sorry, inperson option. That is exactly what that campus is doing. We also spoke to two administrators at a school in florida. This school would be private palm beach day academy, offering inperson learning exclusively. He said there are influx of applicants from the northeast. Listen in. Out of those applicants, 77 from coming from the northeast. Our enrollment numbers is increase of 1 from this time last year. Some families they have kind of had their sights set on florida, but kind of waiting for something to give them that last push. The covid19 [inaudible]. Reporter first and foremost we know the health and safety of our students and our educators are the top priority but child care issues is another issue. Last but not least, the concern of the quality of an online education. Numerous studies saying a lot of the year could be remote that could have a debttry mental effect on your detrimental effect on your childs education. David a lot of charter schools, parochial schools are picking up the slack. They are opening when many Public Schools are not. They may benefit somewhat from this. Thank you very much. That was very interesting report. I appreciate it, kristina. Falling Mortgage Rates are propelling refinancings with new data showing a surge of over 200 of refinancings from a year ago. Of course you have got to look at the low Interest Rates. There is your answer. To Katrina Campins whether the trend will continue to soar. First of all, im interested whether this is happening in both rural and urban settings . So what im actually located in south florida. Thanks for having me today and as your previous segment mentioned people are flocking from the northeast and real estate in general this time around is really bringing us out of this recession. People have reevaluated the importance of home. People are located themselves now in suburban areas. They want more space. They want home offices. They want space to actually do homeschooling as well and they want more space in general. So youre seeing people move away from the cities. Youre seeing people move away from new york, from california. Moving to florida. Were seeing people come here by the thousands and because of that, the Real Estate Market is on fire here. So youre getting multiple offers on properties which we havent seen in years. People overbidding, as you mentioned, Mortgage Rates are very low. I believe they will continue to stay low because there is a lot of cash being saved by people. Even though people are in forbearance, believe it or not people are paying their mortgage. They dont know what the future holds. As far as real estate is concerned. People are surprised how well the Real Estate Market is doing during this pandemic. David katrina, obviously it is a tremendous boost to get all the refinancings in. A lot of banks are concerned, what happens if Interest Rates do bump up . I know theyre told by the fed and others it wont happen. We saw uptick in inflation as a result of some of the salaries which is good news going up with the last jobs report. The banks may not get their return if inflation and Interest Rates do spike. So are they being a lot more selective about who they give mortgages and refinancings to because they have to besured they will get paid back . Youre absolutely correct. Theyre being very particular. Theyre overwhelmed, many are increasing rates as a result of that. We did see a slight increase in the past two weeks but in addition to that, banks are actually being very cautious who they loan to. But more so because of the amount of volume. Theyre completely overwhelmed with people refinancing. But i think its a good turn of the economy. I think were beginning to see people get unemployment, it is going down. People are actually purchasing real estate. Theyre refinancing. So were seeing the economy come back. Were seeing the American People just ready to get back to work, which is helping the situation. Real estate in general is doing very well. Instead of prices dropping, youre actually seeing an increase in prices. David yeah. Because there is such a low amount of supply in the market. I think that is another really important point here. David i have to interject, katrina, because it is a different story, its a tale of two cities literally. Right here in new york we have seen real estate prices go down as a result of a lot of people moving out and not as many people moving in to take their place. Im just wondering if the commissars who prevent the opening of the economy here in new york, the mayor, the city council, people like them who dont seem to have a clue what makes new york tick, if they continue to force a lockdown, do you think, i know it is not exactly your territory but cities like new york come back . I think the mayor needs to focus and change the policies and his mind set because new yorkers are fed up. Theyre flocking to florida for that reason. You know, theyre leaving democratic states and theyre coming to red states. That is why youre seeing texas on fire as well. It is no coincidence that the red states are doing extremely well. As you mentioned, you know, real estate is doing well but in florida it is doing well. It in texas it is doing well. Doing extremely well in the red states. In the blue states it is not. New york is suffering big time because people are leaving the city. They no longer want to be in that environment. Technology allowed them to move. It is really important for new york to get itself in order. Otherwise i believe they will continue to lose a lot of new yorkers who are just fed up. David not only new york of course. It is chicago, los angeles, a lot of cities. Finally very quickly. Corporate real estate is suffering also as a result of this lockdown. People are not wanting companies are thinking of ways not to bring people back because it is a lot cheaper on overhead if people work from home. Is that sort of thing happening in red states like florida as well. Were beginning to see people reevaluate for all the over head for office space. Were also beginning to see multifamilies because the market is doing extremely well because of he relocating. Whereas the retail spaces are not doing as well, because a lot of businesses are going out of business. David right. As a result the landlords are suffering. It depends on the product type for real estate. Industrials doing very well. Multifamily is doing very well. The Retail Centers are not doing as well because businesses are suffering. David katrina, i could go on, but weve run out of time. That was a great overview of real state. Katrina campins, thanks for coming. Thanks for having me. David many new york restaurants are likely to close for january, i mean close for good. 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How much of your time and effort and energy and faith you put into it and what it means giving that up . Well, it has been my life for over three years and, you know, everything about restaurants is personal. It is all about our people more than anything, you know. It is a home for all the people that we take care of day in and day out and all of our amazing team and unfortunately no words to explain the heart break but right now restaurants are in an impossible situation that has been going on for six months, with no plan being outlined at any level of government. No structural finance ago relief for our industry specifically. It has been so hard, so long. A lot of us as i wrote in my oped for the weekend. A lot of us have personal guaranties on our leases which i hope to go away in the future. It is being leveraged for a pandemic none of us with that kind of personal financial liability, i have a family. I have a young child who is one years old. I cant put that at risk. And it is, impossible and deeply unfair but unfortunately restaurants are bearing the brunt. David camilla, i imagine you have your own views about the governor coming out, the governor and the mayor coming out saying probably not until next june will they allow indoor, Indoor Dining when in fact we have met all of the goals, the infection rate from covid of those tested has been below 1 for the past four weeks now. So that is surpassing the goal that they said. There just seems to be a callousness on their part in terms of understanding the importance of people like you who spent their lives dealing with business and now have to give them up because of rules that are so arbitrary . Well, it is more complicated and deeper i would say. You know, really the key when you think about restaurants is employment. I had had 1000 square feet restaurant, i employed 30 people. The jewelry storm next door same amount had one employ eve. The cvs on the corner pails in comparison. We need bold action and frankly a big Restructuring Plan. We cant live month to month with twoweek executive orders and emergency statements and quick ideas. This is six months, and looking like another six months to a year, if not a yearandahalf for our industry to stablize. Our income has gone away around 75 of our industry. 75 of our income gone since march yet all of our expenses remained the same. [inaudible]. No industry specific funding there is no Restructuring Plan at any level of government. What we need from the mayor and the governor particularly in new york is a plan for our industry. David have you, camilla, forgive me for interrupting but have you reached out to the mayors office, have you reached out to the city council, the governor, to try to plead with them to listen to the Business Owners and for them to hear what you folks need to stay alive . So opportunities for all restaurants was founded on march 18th. We call it roar. We have been working closely with the governor and mayor in fact. David but theyre not listening. Camilla, theyre not listening. He has met his goals, his covid goals yet he says june is the first time for Indoor Dining. You cant survive on Outdoor Dining alone particularly as winter is coming in. I think you will see the rhetoric change in the coming weeks. They are listening. David i hope youre right. [inaudible]. Indoor dining is cureall, also no. We need much more than Indoor Dining. Limited capacity will not [inaudible]. These are all steps in the right direction but we need much more structural and Liability Protections right now. It is only one pies of the puzzle. David the Liability Protection is interesting. The financial relief, cities, i dont have to tell you have not been getting their income which comes from tax revenue for the past, five, six months. So they dont have the money to provide you with relief, do they . Were not asking for financial dollar relief but truth is theyre not really in a position from 100 to 50. Were talking about zero to 50. If all the restaurants go there is obliterated tax rate. We pay payroll and real estate and state and city, taxes. Our tax base is massive. We employ a Million People in new york, if that goes away that will be a worse financial burden for the city. Not to mention people working in restaurants be on social services and structurally employed. Were not asking for cash back. Were asking for either tax relief or looking for structural relief. We need personal guarranty protection through this crisis. We need a halt on rent. They closed us down overnight. Our income has been obliterated since march, yet were expected to pay every single expense as if it is february. David it sounds like youre making extraordinarily reasonable demands. It is not even fair to call them demands. Theyre requests but again you deserve a lot more attention than you have received. I hope youre beginning to receive more as you say and i hope the governor, the mayor, the city council, rest of them act on it because you guys are the lifeblood of the city. I love this city. I want you to survive. I hope you do. Im sorry you had to turn in your keys today. Best of luck to you, camilla. Let us know what happens, okay. Thank you. We need public outrage to match ours. David im out of raged, believe me. Were not going to sit down and take it anymore. Camilla, thank you very much, Camilla Marcus was the owner of and thank you her for coming on. Coming up why investors are continuing rotation out of big cap momentum stocks and where they are putting their money now. Details coming up. i need it so bad dont call it a hobby. Its way more than just a job. This is how we live every single day. Can we go and play . roaring of engines i needed to try needed to fall i needed your love im burning away i need never get old im burning away so youre a small bor a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. I appreciate what makes each person unique. Thats why i like liberty mutual. They get that no two people are alike and customize your Car Insurance so you only pay for what you need. Almost done. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. David Charlie Gasparino has an update on a possible deal to buy the new york mets. Charlie, this seems to be one of those stories that never ends. This one is coming to an end. It will be steve cohen. I will get to this in a minute. I want to say that was a fascinating segment you did with the restaurant owner. David god bless her. Ive been doing a lot of reporting on this. Here is the thing when i asked comos office why cant they open inside with significantly less capacity, maybe 25, 30 , they point to the de blasio. They say they cant tell de blasio, the mayor of new york city to, to open up, to allow Indoor Seating in these restaurants. So there is a lot of, you know david fingerpointing. Another thing. A friend of mine owns a restaurant, he could possibly deal with outdoor seating during the fall and early winter if they could have heaters but this shows you how crazy it is. The Fire Department wont allow heaters outside. David oh, boy. Theyre going to destroy a business by the way, new york city restaurants, employ 300,000 people. David thats right. Mayor de blasio said, a lot t of rich people eat at restaurants . A lot of workingclass people work at the restaurants. Just so you know. David when i started here you know what is great about new york, and whats great about restaurants, it provides employment for people thinking of starting out, thinking of, they cant make enough money as writers, whatever, so they get a job at restaurant. That begins, that is where most of the talent, i shouldnt say most, a lot of talent of new york actually comes from. Yeah. People that are actors, upandcoming actors, working their way through law school. People that own the restaurants, generally, i would say 99 of them are not billionaires. Theyre chefs. Theyre hard workers. David thats right. Theyre destroying a huge part of the economy. I will tell you the restaurant associations are in contact with cuomos office every day. Cuomos office, people there told me that they believe in the coming weeks there will be some loser restrictions. David i really hope so. That woman, by the way even though she had to turn in the keys to her landlord this morning, which is so tragic, she was hopeful there would be progress. Not in her restaurant by the way, but working for the whole city. Charlie. Actually i think that is more important story but it is true let me be real clear. David 10 seconds, go ahead. 10 seconds. Steve cohen is progressing in his talks to buy the mets. David okay. Two things, deal could be done in coming weeks. David yes. Or even days. Mlb owners likely to approve in november at their next meeting. David charlie, you did it. God bless you. Thank you very much. Good discussion, charlie. Nfl commissioner Roger Goodell says the nfl is prepared to play a shortened season. Brian kilmeade with the dope on that coming up come on in, were open. All we do is hand you the bag. Simple. Done. We adapt and we change. You know, you just figure it out. Weve just been finding a way to keep on pushing. Everything we have, weve earned. The unmistakable lexus is. Get zero percent financing on the 2020 is 300. Experience amazing at your lexus dealer. Find a stock basedtech. On your interests experience amazing or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. David welcome back to cavuto coast to coast i am david asman and for neil cavuto. Stocks plunging as big tech continues to solo for three straight, this is the Third Straight session, more on that in just a moment, we are 56 days away from the election as President Trump heads down to florida and North Carolina, we will be talking to Brian Kilmeade and just a moment but lets get a fix on whats happening with the market the nasdaq down another two and a half percentage point right now, its really taken on and it was down below 11000 a little earlier in the market in general as bad as they are recovered a little bit to former dallas fed advisor and intelligence llc io danielle and john tammy on why technology is on its worst run since march. I think some of the pullback is due to concerns about cities like new york, cities like chicago and cities like los angeles which continue to engage in this lockdown mentality which is not only destroying the businesses within their environment but also the city finances themselves even though they were in bad shape to begin with. What do you think. I think its a combination, lets never forget they never just correct its a surprise and i think part of this is political and i think it was a bit of a surprise, the atlantic story however, poorly sourced and that maybe put a bump in the road for what the market thought was a victory for trump, trump has good and bad qualities but probably good for markets and that the source of nerves but to your point, there is also a constant surprise and politicians are not going to take the purpura video boot off of the economy of cities and the likes of the cities. That has to reflect in stock prices. David absolutely, there is only so much that the fed reserve or the federal government in general can do to help the economy. The real economy, the people from whom the fed and the federal government gets its money, that has to be restarted for things to really turn arou around. You do, you have to have your taxpayerbased to come reignited and become part of the economy, once again and what we see unfortunately with a lot of the stimulus legislation that is in past, is largely left behind Small Businesses across america that are literally starving for revenues and not able to open up, the legislation that was passed never said restaurants are going to open up at 25 50 capacity if youre lucky in a city where youre lucky enough to open up, there was never anything crafted specifically for the backbone of this country that employed 47 of americans before the pandemic and i would like to see Congress Come together and put together solutions for some of the hardest hit industries. David isnt the Federal Reserve pretty much irrelevant at this point when youre talking about restarting the private sector of the United States of america. I would just ask when the fed has been relevant, the idea that the central planners in washington can decree easy credit or access credit is always defied common sense and i dont know why people focus on the fed much at all but i think danielle hits on a more important point that the businesses in the individuals who make up the economy are having trouble right now. I dont think congress can fix that, i think what fixes it is get back to what prevailed before march when people were free to produce and they produced and produced abundantly in the economy was doing very well. In the lockdown that make no sense in terms of fighting the virus and make no sense economically, once you do that people will start producing again. David does not depend on the federal government or on local government, again you see tremendous differences between blue states and red states in terms of their decision to lockdown. As a former native new yorker, ive to say i was very disappointed the Indoor Dining was not going to be allowed to be opened up, we have flattened the curve in texas and we done so successfully in our businesses and restaurants with airconditioning and all are reopened, as long as there is a blueprint to provide and chose a way to open the businesses, it should be done regardless of red state, blue state or wherever, they need to be reopened. David the doing and places like hong kong and south korea in the doing and places in europe right now and very successfully and again, we seem to be getting a measure of success in terms of therapeutics on the virus itself, lets hope we can in the lockdowns. Good to see both, thank you very much. It is time for fox friends cohost Brian Kilmeade, we thought we lost you for a second but good to see you. There i am. Lets first take a soundbite of President Trump talking about the violence that every time we think that we get a jump on the violence that is happening in terms of the protest turning into riots, something bad happens and stuff that was by the happened this weekend like rochester, new york and pittsburgh which we thought were immune to the stuff, heres the president from earlier today speaking about. Pittsburgh i looked at rochester in l. A. Last night, i looked at the democrat run cities, if you look at portland every night they dont have the strength, i dont think the democrats have the courage to condone these people. They were afraid to talk about lot in order, they cannot issue the words law and order, all we want is law and order. David yard Vice President biden coming out and saying hes against violence but not specifying. It is clear these are bml blm rallies in antifa riots, he is not naming them by names and theyre not stopping, they continue to spread the places we never saw them before, is this a liability for democrats . I think so and people always ask and ask you all the time, who do you thinks going to win the election. I annoyed you whats around the corner, if you told me in february we were going to have rights and cities small and big across the country, 250 some of which are totally out of control the mere thought would be a good idea to stand back and watch, it changes the dynamic, why do i know its working for the president , joe biden is saying how bad it is, why do i know its working for the president , now when joe biden says staffers, 13 of which gave money to the rioters to get them and bail them out of prison and publicly Kamala Harris did the same thing, they now are running from the movements, they realize riots are not good for Everyday Americans that have businesses and want to do horrible thing of having lunch in there being screamed at and is caught on video. They cannot get out of control and they sage trumps america, i dont know how you feel about it but its not sticking, the president is not the dictator hes been claimed to be, he knows its mayor, governor, mensa polity and him and he saying im here to help, yesterday when asked joe biden when he ran for antifa, he said have a problem with all violence, Kamala Harris did it in either did the biden spokesperson. Why not come out against this organization that wants to destroy the country, what is hard about that . David he is very light on specifics, Vice President biden is, when he is specific about the virus for example he has tried to pin the virus itself even though it obviously started in china and spread through europe et cetera and tried to pin on trump and pelosi is calling at the trump virus. When he is asked what he would do he said he would speed up research for a vaccine. That exactly what donald trump is doing. Its only when he is forced to be specific, he gives us specific from the trump playbo playbook. Listen, its going to be our reporters on the field on the few times once every ten days to ask the tough questions of joe biden before the debate. He has not asked anything. You said the three months ago and are saying this now, why havent you got out of the way to condemn, why would you say any followers of the line that harassed diners or i dont want your vote, why not come out and say that. Its a series of things that are happening right now. David im sorry to interrupt, we decided interview with the restaurant tour, i saw you on another channel so i know you miss the interview. I gotta tell you it was heartbreaking, she had to turn her keys in to her lien lord this morning and just as these guys were finally getting a little bit a break with Outdoor Dining in the rioters attacking outdoor diners which destroys the one little sliver of what they used to have, here is a new york restaurant tour, let me listen to the clip and let you listen and respond. Play the tape. Right now restaurants are in an impossible financial situation and its been going on from a six months, no plan being outlined at any level of government, no structural financial for industry specifically in its hit so hard and so long. She was barely diplomatic but talk about Governor Cuomo and mary de blasio who are doing essentially the same runaround same dancing thats been done in democrat cities around the country with regard to lockdowns, arent democrats going to have to come up with some answer to the lockdowns situation, want to become an issue in the campaign . I think you have to you know more about businesspeople than i do but i can relate to restaurants. We had a bar and we live paycheck to paycheck, onetime 70 got drinking under age, the age was 18 with a phony id and my dad was shut down for three weeks, we did not know where the money was coming from, these people have been shut down for four and half months. They have responsibilities, leases that have to be sufficed, food thats gone bad, they reordered it, then he went back because the wind closed again, this is unimaginable and guesses getting paid through this whole thing, all the politicians. I think that direct deposit goes right to cuomo and de blasio every single day and we still wonder where the billion dollars into his wifes thrive program. That would help out restaurant owners. Thats another issue we tried to check the money hundred billions of dollars which are accounted for. Really quickly we have 30 seconds, the nfls opening the season, what kind of season is going to be . I think its going to be a season without fans were getting used to that but also demonstrations and we will see if fans are going to be okay with it because before the game they will have the black National Anthem and afterwards a whole bunch of players will kneel for others, that was a turnoff in the past and will see if america has changed, one thing is pretty clear the nba readings have suffered in regions baseball has suffered, im not sure the mls was a high to begin with, im very curious but i know america loves football and i cannot wait to see it beginning on thursday but most of all on fox on sunday. David america loves sports comments were to be a tough year. Brian kilmeade, great to see you. Im glad we found you. I am here. Your wife was calling us. You should call her right away. Good to see you. Appreciate it. Nyc leadership facing heat from restaurant tours and we just heard about reopening delays, has the mayor of the great city of new york lost sight of what a capitalist new york should look like, my take on that coming up next. The big events are back. Xfinity is your home for the return of live sports. I appreciate what makes each person unique. Thats why i like liberty mutual. They get that no two people are alike and customize your Car Insurance so you only pay for what you need. Almost done. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. De blasio is losing touch with the essence of a capitalist new york, reaction from new York City Council minority job rally. Do you think the mayor of new york let alone the governor really understands whats make businesses in the city. I want to say no but something about this strikes me as yes, he probably does, the real reason why he seems to be acting in the way he is, he is generally interested in bringing more social economic policies in your city. By his own admission when we started talking about restaurants reopening, by his own admission he heismiss aurerastntrepenirengpes somset s ly the w tlthy peopl peoo p aeoo anhould s n s n s n s a prior petencore m f de as i this is lt t moreoreiale ise demode ies t n tew norewk city,ore sorliorst poricies to www yw y tn ever have se befor vi ovine ovifvi subtitlubesti of my colonist, he honeymooned in havana and fidel castros, he went to nicaragua, the guy does seem to have a pension for think socialist and even the governor of new york, he is a liberal democrat, he has chastised blog seo saying you have to understand 50 of the citys revenue comes from the top 1 of the people. You cannot chase the rich people out without the city getting sunk. That is right, pretty much whatever newspaper you pick up lately whether its on the left, the times, somewhere in the middle and anything in between, you see reports of new new york city population and the mass exodus, places that are slightly lower in taxes. There are people staying in the hamptons because they can avoid the 3. 85 voluntary essential income tax that people pay for living in the city of new york. We have lost the premium for limited new york city, restaurants are still closed, gems are only open a certain capacity, you cannot see a broadway play, the reason peopl. David forgive me for interrupting but the key is people in new york are welloff when they feel safe, they dont feel safe with the quality of life issues, the first time i knew we were in trouble with mayor de blasio he began to change the quality of life issues that really made a difference to crime in new york, things like arresting small crime like jumping the turn styles and subways that begin to legalize your nation in public, these are Disgusting Things but you gotta talk about them because they affect the quality of life, by the way not just your commies all the same in San Francisco, the same in chicago and when you run the quality of life, people dont want to live here anymore. People are being chased out by a small vocal and angry minority of new yorkers who actually want to see the police defunded, the people that amount to the vocal calls for defunding the police are so minutely small, we see people across the city asking for more police in the neighborhood, more Proactive Police and people like bill de blasio are willing to bend the knee of whatever takes over twitter for the day. David in the 1990s we saw even liberal new yorkers vote for Rudy Giuliani because they were thought up, they were fed up with deterioration of quality of life and the increase in crime and businesses moving out, liberal new yorkers voted for giuliani who turned the city, are we ready for another major change like that . I think we are, i think the next race which happens next year is going to be less about whos the biggest progressive cheerleader and more about who actually has the desire to be the meat and potatoes leader of the city to actually worry. Do you have that desire. We will see. But we really need somebody to focus again on the quality of life and making sure the grass is cut in the parks and people who are arrested are actually kept behind bars and they committed Violent Crimes and things like that. Unfortunately, we just have become a city where the democratic primary has determined our leadership for way too long. David councilman, would you go as far as don peeples, a moderate democrat who is against the policy and he said neil cavuto last week, he said he was thinking about running, would you go that far . Absolutely, to me and matters less about republican versus democrat and somebody who wants to do the job and make the city better. David aneesa buddy who knows how to make the city better and clearly Rudy Giuliani knew how to do that and don peeples as well, doesnt matter if youre t or republican you have to know how to fix things. I would say you and don know a little more about it than the current mayor does. Good this year. Thank you for being here. New signs that china may be configuring his military against the u. S. , what experts are now warning, more of that after the break. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. All otc pain relievers including volthave one thing in common none are proven stronger or more effective against pain than salonpas patch large theres surprising power in this patch salonpas dependable, powerful relief. Hisamitsu. David the pentagon warning in a newburyport china has the Worlds Largest navy and that has experts worried it is not improving in size but and ambition to china analyst gordon chang who has been warning that china may be configuring his military specifically to target american lives. Lets start right there, that is pretty outrageous idea, do they really have what it takes to take on the United States right now . They do for instance the south china sea, east china sea, many analysts believe they would win a war with the United States in those areas. We know of their ambitions, and 2018 in the spring they actually caused i injuries to both pilots of the u. S. C130, this was over djibouti in a different part of the world and africa but it shows a malicious ambition. If you are trying to blind the pilots of the plane youre trying to bring down the plane. If you try to bring down the plane youre trying to kill the crew. China has been laser in airplanes, not just in djibouti but the south and east china sees. David as ill intentioned as they are, the Chinese Government is well aware that a conflict, military conflict with the United States would put two Nuclear Powers conceivably the Largest Military powers against each other in a nuclear configuration that could really destroy and lead to the death of millions of people. They would not go that far would they . I dont think so, david, but we really dont know. We dont know Chinas Nuclear doctrine. They founded the peoples republic and talk out loud and said we could absorb 300 million casualties because we got more people than the United States. We for Chinese Military officers threatened to nuke los angeles, threatened to nuke taiwan. These are statements that do give us pause about what chinese generals and admirals actually think. David may be again ibm pollyannaish but i hope they care more about their economy and their future than what they went about being a nuclear war with the United States. Lets talk about specifics on the navy which is caused a lot of alarm in the pentagon. General jack king says its true that the quantity of their navy is now larger but the quality is insufficient to take on the United States, that is their ships are not up to the speed that ours are. In the navy sailors themselves are not trained as well as ours, when you say that . We had two terrible coalitions involving the mccain and fitzgerald due to insufficient training of Surface Warfare officers. I dont know if our officers are actually trained as well as chinas. The general is absolutely right, our ships are better quality speaking the chinas but china has more ships that we will have and that gap will increase it as military analyst said sometimes quantity is quality in reaching that point. David we are not standing still, we have a president who is determined to rebuild what we have lost over the previous decade in terms of military superiority on the water and you think as they build up we can actually extend our buildup even further . We will extend our buildup because of President Trumps Shipbuilding Program and is program to revitalize the military across the board, that is absolutely essential but we gotta remember at this time china has weapons that are better than ours in china has classes of weapons that we do not have. Weve got to be concerned that our buildup has got to be rapid fast and not every Political Party in the u. S. Agrees with President Trumps plan. David very quickly we only have ten seconds, what weapons do they have that are better than ours right now. They have Ballistic Missiles that are ship colors that they say were, we do not have them. There certain classes of cruise missiles that we do not have and the list goes on and on. David gordon chang, frightening stuff but we should know it. Thank you so much for being here. President trump pushing for a vaccine as early as next month, is that doable . Details coming next. Itskind, personalized education center. Oh. Their awardwinning content is tailored to fit your investing goals and interests. And it learns with you, so as you become smarter, so do its recommendations. So its like my streaming service. Well except now youre binge learning. See how you can become a smarter investor with a personalized education from td ameritrade. Visit tdameritrade. Com learn visiso youre a smallm learn businor a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Im a verizon engineer. And im part of the team building. A powerful 5g experience for america. Its 5g ultra wideband, and its already available in parts of select cities. Like los angeles. And in new york city. And its rolling out in cities around the country. With massive capacity. Its like an eightlane highway compared to a twolane dirt road. 25x faster than todays 4g networks. In fact, its the fastest 5g in the world. From the network more people rely on. This is 5g built right. Only on verizon. David the race for a vaccine is hitting warp speed, President Trump says a vaccine should be on the market before the end of the year again it could be in october before the election, how close are we realistically speaking, fox business Edward Lawrence is looked into all of this. October surprise, we could get one here, President Donald Trump has continued to say that he expects a vaccine before the end of this year end if you look at the data coming in and point in that direction should the vaccine in the trial be proven effective and i can tell you there are nine u. S. And european vaccine makers that have agreed to uphold strict scientific standards, they made that today the standards would be in line with regulatory agencies like the food and Drug Administration in the u. S. As well as others around the globe, this is setting the stage to use the Data Collected in other countries in combination with some u. S. Data with approval in this country, the fda said last month that the agency could use an Emergency Operation if the data proves the vaccine works in the health risks outweigh the need for further testing, the fda says it will not sidestep any scientific results, the debate leaked into the president ial politics over the weekend and President Trump saying the opponent in the election is using antivaccine rhetoric. Biden and is very liberal running mate should immediately apologize for the reckless antivaccine rhetoric that they are talking right now, talking about endangering lives and undermine science. Former Vice President joe biden says he is not against vaccines but listen to this. Im transparent on the vaccine. He said so many things that are not true im worried if we do have really good vaccines people will be reluctant to take it hes undermining public counsel. If i get a vaccine tomorrow i would do it in a it would cost me the election i would do it. The head of pfizer says his company will have enough data to give to the fda for possible approval in october in astrazeneca also says it will have the data to turn in in october and this can be closely followed by madeira, add this to the cdc asking states to relax rules so they can have Distribution Centers for these vaccines across the United States by operational by november 1, it could be an october surprise, we will see. David you mentioned Kamala Harris bidens running mate said she would be reluctant to take a vaccine conceivably because of President Trumps handling of the situation which i think is very dangerous thing to say. Thank you very much. Michigan secretary of state is calling on the state legislature to allow election workers to begin processing balance the day before election day, this amid warnings the general Election Results could be delayed for multiple days this november due to the states highest voter turnaround in history, judge Andrew Napolitano is here to talk with us. It is wonderful to people are voting already in there so anxious to vote in the election, is a very important election. But are you worried about the methods by which they are planing to vote . The colleagues at the wall street journal point out in a fascinating editorial this morning that we have 52, counting the district of columbia and puerto rico, 52 state laws, no two of which are like and some of which allow you to request an absentee ballot as late as november 2 which is the day before election day. So there is no federal or centrally managed election for president. There are 52 separate elections. The federal law says voting must stop on election day. The counting can resume but people cannot do the mechanism of voting whether that means going to the polls or putting it in a mailbox or physically handing in a ballot, they cannot do that beyond election day. So we may see one side or the other win by a large number or we may see it so close on the morning of november 4 that florida will look like law school, florida in 2000 compared to whats coming. We may have ten or 15 florida is on our hand. David i remember that very well it seems like only yesterday 20 years ago. But you mentioned a very important point we are a republic we have 15 different ways of voting because we are republic but there are other democracies in the world that he voted during the pandemic very well and am going to mention one of them, south korea, right smack in the middle of the hardest part of their pandemic, april 15, they had an election, heres what happened it was study by the Wilson Center a distinguished group of folks who looked into it and said not only did south korea and voters turn out despite the risk of infection but they turned out in the highest numbers in 28 years, if the South Koreans can have in person voting so successfully in the heart of the pandemic and we are past the worst, cant we do what the South Koreans did . Im 100 with you and i wish we could, the problem with voting by mail are well known. However, in 201,640,000,000 americans voted by mail and there were no significant complaints of corruption or political interference, this year twice that number 80 million are scheduled to vote by mail but i hope that more people will go to the polls, its more gratifying, more secure and more democratic. David we can see what can happen, we had a horrible primary in new york which took weeks and weeks to come up with a conclusion and even then a lot of the people voted and whether they were being officially counted. We had an election for the mayor of paterson new jersey in which the judge threw up his hands and said its impossible to determine which votes were valid and which votes were not on ordering a new election, god for bid that happens this november. David you been to the wall street journal editorial if question whether court specifically the Supreme Court will decide the selection as many say they did in 2000, is that going to happen again . I hope not, i hope we wake up the morning of november 4 and joe biden or donald trump has one by such a significant number that there is no serious doubt as to the accuracy of the numb number. David even if it is a significant number of on a democrat say including Hillary Clinton know you should not accept it you have to wait for god knows how long. It is not likely to happen. It is going to be a long couple of weeks before we get to the end of this. Good to see you. Thank you. The Good Technology to get retail offices and travel back to full capacity could be the sanitation booth, jeff flock has an inside look, you have to watch out for all the vaping you have been doing. There you go, whatever it takes im willing to do it, this is a new normal perhaps as we move forward, i will explain how it works. The ambiguity. The moment calls for more. And Northern Trust delivers more. With specialized expertise. Proven strategies rooted in data and analytics. And insights borne from over 130 years of successfully navigating economic turbulence. Giving you clarity. Inspiring confidence. And helping you uncover new paths forward. Northern trust. Wealth management. Northern trust. You can go your own way go your own way your wireless. Your rules. Only Xfinity Mobile lets you choose shared data, unlimited or a mix of each. And switch anytime so you only pay for the data you need. Switch and save 400 a year on your wireless bill. Plus, get 400 off when you buy the new Samsung Galaxy note20 ultra 5g. David the markets are pretty well leveled off at a very negative rate as you can see the nasdaq has improved a tiny bit for 2. 5 down, its down 2. 83 , the s p 500 is down about 1. 5 and the dow is down about one and a quarter, little less than that. Its a very down day and it follows to other down days in the markets, this may be the pullback that a lot of investors have been expecting thinking it will level off and perhaps even climb again but is is a bad tuesday on the market after a long holiday weekend. West Virginia University suspended inperson classes for undergraduate amid concerns about a recent spike in coronavirus cases. Fox Business Correspondent Grady Trimble has the details. Were at northwestern today and will get to your stomping grounds in a moment but first as you mentioned west Virginia University the latest college to go fully online at least for now, classes will go online because rising coronavirus cases through september 25 and they will reevaluate if they can start inperson classes again, once again cases there blamed on partying like lucina 70 other colleges across the country. Here at northwestern the giving students a break in tuition, 10 for the fall quarter because the university abruptly decided to send freshmen and sophomores or keep them home i should say, they will not welcome them back on campus days before they were sent to move in, that is likely only a couple thousand dollars in savings because of the reduction but still more than many universities are doing and summer purging full tuition for virtual education, northwestern made this decision to keep underclassmen offcampus and out of dorms and the university is keeping sorority and fraternity houses closed, they are doing so to have more face entrance based according to the upperclassman if needed. This decision comes as administrators are watching cases rise at other campuses of the midwest and across the country. Some like the university of wisconsin in illinois, they are restricting what students can do on campus to essentially go into class and get food to go, gems are closed and social events have been canceled for some period of time, the university of wisconsin saying in a statement we reached a point where we need to quickly flatten the curve of infection or we will lose the opportunity to have campus open to students this semester. What the universities are trying to avoid is having to switch to online classes which as we seen at northwestern another universities leads to a reduction tuition or lawsuits if there is no reduced tuition. David i hate to see the beta for campus at northwestern going to waste without the students. Good to see you we wish them the best. Businesses are battling egg against cobra 90 with new sanitation practices with the help of the sanitation, jeff flock is in vernon hills illinois and hes been in the booth far too long. I warned against in the goahead. Well disinfected but is perfectly safe. This is the intelligent disinfectant door, look here on fox business today, this is something that uses multiple ways of making true not bringing virus into the workplace. I have the team that has developed it, is starts with a temperature monitor, i stand in front of it and it says i have a normal temperature which means i can walk into it and why dont you take the mic while ikes plane was happening. As you enter in your arms overhead and take a slow turn you want to take six to eight seconds and you have ozone in three parts per million and far ubc which is the lighting that you see which is a disinfecting light and then you have cold disinfectant. The disinfected does not hurt me at all. That is correct, several different epa approved nonharmful and adjustable disinfectant that can be used, many of which are antimicrobial, that clings to you and as you pass and in the venue any kind of contact, bacteria or viruses, they are literally being killed as they touch you. This is the first time this is been combined, all of the different in one spot. That is correct, you have multiple lines of defense. This is not something that is curing you of coronavirus, it is making sure that anything that ive got on me or my hands or rubber on me does not come into the workplace. That is correct, with kids going back to school, hopefully it can kill things off their backpacks and things like that. Other countries have been quicker to adopt this technology, specifically the middle east. They have been a very early adopter of the technology and now its become popular here and we are ready to keep up with the demand and keep going with things. To your point earlier, the venues, their spending a lot of money on sterilizing the properties but the front line of defense is extremely important. Why walk in you can have a totally sanitized environment but i could carry some of the virus and this obviates that, im going to go through one more time to give you last look, it does not smell like much of anything. It is quite so like the ozone, the analyzer, the light all approved by the government as a safeway of perhaps eradicatin eradicating. David adjustable disinfectant, wasnt President Trump ridiculed for saying that. I dont know if you mention lysol or not, theres no lysol used in this product but absolutely. David i hope it is safe for your sake, i care about your safety. Good to see you my friend. Thank you very much. The cdc announcing a fourmonth ban on evictions for most renters an effort to stem a widespread homeless crisis. Gerri willis has the details on how this is hitting landlords. I have to tell you this is highly highly controversial, the ban on evictions, heres what the order on the cdc says, housing stability helps protect the housing because the likelihood of individuals moving into congregate settings such as homeless shelters that puts individuals at higher risk to covid19. To qualify what is not rent forgiveness but a pause and rent where theres less than 99000, couples must earn less than 90,198,000. And unlike the cares act with 12 million renters or 25 of the whole, this is much more foregoing, like evictions of the cdc could assist 30 40000000 americans. A former fannie mae executive says the policy leaves a lot to be desired. Listen. It does not do anything to forgive rent, it does not do anything to replace rent, it puts the financial burden of the Public Policy itself on the backs of landlords who do not have any relief. In fact far from being departed investors half of landlords across the country are small momandpop landlords at risk. The National Multifamily housing cancel counsel saint Eviction Moratorium will harm the very people it aims to help by making it impossible for Housing Providers particular small owners to meet their financial obligations and to provide shelter to their residents. Renters have objections to this to saying the moratorium will be in place for the next 120 days and only kicks the can down the road as it offers no relief to help them pay the rent. As a send it back to you, i think youre going to see legal challenges to this, some focusing the cdc is overstepping its bounds. David the lawyers always want a piece of the action. Thank you very much. Well be right back. Instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. David oil plunging more, almost 8 really on growing fears about falling demand. Think of all the planes that arent flying, all the jet fuel not being used, all the factories not working. Oil is on the pace for the worst day in three months and market not doing much better than that today. We need a cp effect, charles. You know what, you will get it, your wish is my command, my friend. Thank you very much, david asman. Good afternoon, im Charles Payne and this is making money. Breaking at this moment the markets resumed the selling from late last week as Growth Stocks and momentum darlings take big hits to the downside. While there was universal agreement these names were over their skis there is no agreement on how far they come down. There are different types of pullbacks and when might you actually buy the dip. Coronavirus vaccine becoming the latest hot topic, trump accusing democrats of