Transcripts For FBC Varney Company 20240712

Vaccine and treatments, bringing the futures off of their lows this morning. Still looking a lower open today, but much of this is profit taking after a very strong rally yesterday and last week. Investors saying you know what, im going to take some money off that table. Theres not much stopping big tech, though. We talk about them a lot, every day, but for very good reason. New highs for several of these and one of our bulls will tell us in a few minutes why hes still buying them even at these levels. Happening at the white house today, a big meeting about getting americas children back to school in september. That is a major factor in the economic recovery, if kids are back in school, parents can go back to work. Its a key issue. What about Patrick Mahomes . Hes a recordbreaking deal thats guaranteed for nearly a half billion dollars. I say guaranteed. Hes a very rich young man. We have two pro athletes on the program to talk about that today. Big three lourshours ahead. Im Ashley Webster in this week for stuart. Today is his birthday. Happy birthday, stu. Enjoy. Meanwhile, Varney Company begins right now. Ashley all right. Lets get right to this news and begin with a couple developments on the virus vaccine. First, novavax, its the biotech people working on a virus vaccine. The stock soaring this morning, up nearly 30 as you can see. Come in, lauren simonetti. They just secured a very big check from the government, right . Lauren they are being rewarded. The stock is up 30 . The biotech has received 1. 6 billion in funding from the federal government to develop and to scale the manufacturing of its virus vaccine. It aims to have 100 million doses ready as soon as the end of the year. By the way, this is a stock that is up 1900 this year. The ceo will join us later this hour at 9 30 eastern time. Ashley yeah. We look forward to that interview. Next up, regeneron. Come on in, susan li. Susan, they have received a nice amount of cash from the pentagon as well. Susan close to half a billion dollars. Close to what Patrick Mahomes is getting from the Kansas City Chiefs. Thats to supply, though, what regeneron is doing, supplying the u. S. Department of defense with its antibody cocktail in order to treat covid. This is part of operation warp speed so that money will help produce and supply the federal government with its coronavirus treatment. The therapy is still in phase 3 trials, evaluating whether or not it actually can prevent anybody who has been exposed through close contact from actually getting infected with coronavirus. The fda has created the emergency use so far of this antibody cocktail but regenerons stock, speaking of soaring, up 67 this year and really reacting to the news that you see in a down market, helping drive the nasdaq, by the way, to record highs so far in 2020. Ashley indeed. Susan, thank you very much. Better bring in fox news medical contributor dr. Marc siegel for all of this. Doctor, this has got to put some minds at ease, right. We have these two big companies, we have Many Companies out there working on vaccines and treatments. Seems like we are going to get there sooner rather than later. We havent talked, ashley, about novavax before. Its like in a race, right. The guy with the finishing kick that comes in later in the race, 1. 6 billion from operation warp speed. Ashley, it uses an insect vec r vector. It uses insects as a vector, then puts viral particles on them to see if the cells create an immune reaction. Its a different technology. But it was used in an ebola vaccine. Its been used in several different animal vaccines. Its had success before and its going to go into phase 3 trials like the other ones we have talked about. So its coming along the outside with a finishing kick. As far as regeneron is concerned, this is another thing we havent talked about which is operation warp speed also covers treatments. So here we go. 450 million, this is a double antibody, where basically, we have talked about convalescent plasma, right, but this is antibodies that are made artificially and these two antibodies target the virus and are potentially a very useful treatment against covid19. Its not a cure, but it probably will be more powerful than the convalescent plasma we have talked about. Again, coming in along the outside, can definitely decrease severe cases. Ashley the horse racing analogy goes on. Doc siegel, lots of news today. Sorry it was short. What youve had to say, very encouraging. Thank you so much. Dr. Marc siegel. Lets take a look at some of the big tech stocks, if we can. All of these coming off record closes. Heres where they will open today. Still higher for apple, up another. 25 , amazon up another ten bucks at 3,068. Microsoft, just down. 10 in premarket. Netflix up. 75 , closing in on 500. More tech winners, by the way. Tesla, alibaba, chip maker nvidia and adobe, all hitting alltime highs to start the week as well. Again higher except for adobe. But big tech has been leading the way. Lets stay on big tech and bring in market watcher mike murphy. Mike, tell me how do i, if i havent already done this, how do i get in on the tech boom with these prices, you know, record highs . Hopefully most of your viewers have listened to us over the past few months and they have been putting their money, allocating money to big tech because thats where we have seen the growth. But really, right now, if you want to jumnto tech, if you missed it for some reason, do it for a basket of stocks. Its tough to pick who is going to be the winner out of apple and amazon and facebook and netflix. All great companies. But heres what i will give you. I think its officially time to Start Talking about the first ever 2 trillion company. You have apple, you have microsoft right behind them. Lets Start Talking about that. Who will be the first to 2 trillion because we are going to get there. Ashley yeah. Who would bet against that. Also wanted to mention youre hot on this Uber Postmates deal. Why do you like that so much . Well, i talked about it at length about uber. Its one of our largest holdings. I think its a company because of their 100 million plus unique users. Its a company that rallied after getting beaten up on the ipo, its rallied over the last two months, then it got hit by coronavirus. But when we get past this, and listening to dr. Siegel talk about a vaccine thats out there, we know the Trump Administration is putting as much money as possible to get us away from the coronavirus concerns, when we get back to normal life, uber is going to be a big part of that. Not only in taking you from point a to point b, but now with postmates, bringing you food from point a to point b and theres a lot more things that uber can do because so many people are using that app on a regular basis. Through rosecliff we are an investor in postmates so when you have the postmates deal and driving up the stock of uber price yesterday, its a win win but this is the tip of the iceberg for uber. Lot more coming from them. Ashley tip of the iceberg. Mike murphy, thank you. Mike, stay right there. Susan, youve got some more nasdaq winners, right . Susan we saw a Third Straight record close for the nasdaq on monday, 24th of the year after a huge rally, biggest we have seen since the middle of may. We know the amazons, the apples and the teslas have helped propel the stocks but the best performer so far this year on the nasdaq, payment companies. What about paypal, square . We should talk about them more often because they are both up around 55 so far this year. Covid means that people are banking more online and on their phone. They are shifting their habits and stashing their stimulus checks on paypal and square instead of the big banks. So these are the financials of the future. Another nasdaq darling i want to talk about and we dont talk enough about, docusign, more than doubling this year, up over 110 . Signing documents online instead of wasting time going to these inperson appointments, a trend thats only going to get bigger from here and definitely here to stay. And crowdstrike, famous during the 2016 election for its part in investigating the dnc hack but this year, the stock has already doubled and also, since we have concerns of foreign interference in 2020s president ial election, you can bet the cybersecurity is more important than ever this year and Going Forward. Ashley very good. Thank you very much, susan. Mike, let me bring you back in. I believe there is optimism out there that this economy can weather these surges that we have seen in coronavirus cases in the south and southwest. I think the Economic Data continues to point mostly to resilience, and i think that is helping the markets psyche. Would you agree . Ash, i would agree 100 . You know, one thing, remember, we have seen stimulus that really outpaces the damage. Im talking economic damage that coronavirus has caused. Now we are seeing more money coming from the administration to really address, to try to find a vaccine and address this problem so it doesnt crop up again in the fall. I think investors are really starting to look past what does the economy look like, with all the stimulus thats out there, as the recovery starts to really pick up and we can start stop talking about coronavirus and stop talking about potential flareups and get back to where we were when coronavirus started which was a very strong economy, that i think is what people want to talk about. Its not only q3 and q4, but its really after the election, what does 2021 look like. I think its a lot more good things coming for the u. S. Economy and thats why we think the markets arent just going higher, but they are going much higher in the near term. Ashley i love that. Much higher. All right, mike murphy, as always, thanks so much for joining us this morning. Thank you. Ashley mike obviously bullish on the markets. The dow, little bit of profit taking, down 200 points in premarket. Now this. Miami is shutting down restaurants and gyms again, but Florida Governor ron desantis says hes not planning to roll back his states reopening. We have to have society function. You can have society function in a way that keeps people safe. Ashley society has to function. Florida just one of the hot spots in the country right now. So what is the right balance . We will debate that coming up. Also, jpmorgan now says a biden win would be neutral to slightly positive for your money. We are all over that story next. Theyve really stood the test of time. Much like these majestic rocky mountains. Which must be named after the. That would be rocky the flying squirrel, mr. Gecko sir. Obviously ahh come on bullwinkle, theyre named after. Our first president george rockington that doesnt even make any sense. Ashley of course, that was the 1979 megahit the devil went down to georgia. We are honoring, of course, the late great charlie daniels, famed fiddler and in his later years, outspoken conservative icon. He was 83 years old. I got to know him very well in my time in nashville. He was a great entertainer, a lovely person and a true legend. He will be missed. Charlie daniels, no longer with us but his music lives on. All right. We move on. Mark zuckerberg preparing to meet with some civil rights groups. Susan, i guess this is all about the ad boycotts . Susan more than 1,000 companies have said they will stop or pause advertising on facebook and this all started by several civil rights nonprofits and this stop hate for Profit Movement they started. Those groups will be meeting virtually today at 2 00 p. M. Eastern time with facebook founder Mark Zuckerberg and c. O. O. Sheryl sandberg and the groups that started this movement were protesting what they call the hate speech and calls for violence on the platform along with misinformation that they say were proliferating unabated. Zuckerberg was more hesitant than twitter to shield or add warning labels to certain posts and that includes President Trumps controversial minneapolis post where he said that when the looting starts, the shooting starts. Now, this stop hate for Profit Movement also started gathering momentum and more and more major advertisers jumped on. They were pausing their facebook ads. Thats when zuckerberg offered an olive branch of sorts. He says Going Forward they will add some warning labels to controversial posts in the future but despite all this uproar, facebook hit a record high the last two sessions, regaining virtually all the losses from the initial boycotts and this morning, Goldman Sachs reiterating that they are calling this stock a buy still. Ashley fascinating. Susan, thank you very much. Next case, jpmorgan saying a biden win would be neutral to slightly positive for stocks. Interesting. Cassie smedley, Rnc Deputy Communications director, joins us now. That doesnt sound like its very positive for the president. Whats your reaction to what jpmorgan had to say . Well, that doesnt sound like its very in line with what most americans are feeling about our economy. I mean, when you look at both our internal data here at the rnc but also most public polling, when they ask who do you trust on the economy, its President Trump and its for reasons like the tax cuts and the deregulation and we know that joe biden has already said not only is he going to roll back the tax cuts, he has every intention of raising your taxes and we knowtoverburdensome regulations were a hallmark of the obama biden administration. Two key things that have been noted with laying the foundation and empowering the strongest economy in recent american history. So its really hard to reconcile how you draw that conclusion if you are jpmorgan when youve got the majority of americans saying i feel good about the economy in President Trumps hands and even just yesterday, most of our economy is still closed, we are still hitting record highs in the stock market. When you look at who is going to empower you and who is going to be a good steward of your dollars, i think all signs point to President Trump. Ashley all right. Move on. Next subject for you, there is a surge in virus cases and many, it has to be pointed out, goprun states. Texas, for example, hospitalizations hitting a new high on monday, over 200,000 active cases. And in florida, officials in miami are taking steps to reclose the city after the surge in cases. No more restaurants and gyms. They are even instituting a curfew. Heres what floridas Governor Ron Desantis had to say about that. Listen to the tape. We have to have society function. You can have society function in a way that keeps people safe. We need to protect the folks who are in the atrisk age groups, people with comorbidities, but the broader part of society, doing the moderate social distancing, we need to keep people working, keep society functioning and combat it that way. Ashley well, cassie, the critics are jumping on this saying these states jumped the gun and they are paying the price. What do you say . I think what you heard Governor Desantis say is in line with what most americans are feeling. Empower us to get this right. Empower us to reopen safely but let us reopen. Let us contribute to our communities and to our local economy. Thats what we need not just economically but also for our own physical and emotional wellbeing. I would point out that there are so many in the Mainstream Media who love to keep the ticker of positive cases on the side of their screen and only tell you about the increase in positive cases. Thats an increase in testing, something the white house has noted has increased more than six or sevenfold. But what they are not telling you is that the death rate blessedly is among the lowest in the world. I think if not the lowest, right there as runnerup and thats a good sign, too. Thats showing that we can do this and we can do this safely and we can get this right and so i would just caution every american, every voter out there to be very careful about those elected officials who are taking this as a time to have more power over you and those who want to empower you and empower this the right way. To go abo i think thats what we are going to see as we work towards november in terms of the response from our elected officials who is doing it safely and in line with cdc guidelines but who also is trying to find the balance of how we can get people back to work and do so again safely. Ashley all right. Have to leave it right there. Thanks for joining us this morning, Cassie Smedley with the rnc. Thank you so much. We do appreciate it. Lets take a look at the futures for you. As we mentioned earlier, a lower opening on wall street today but you cant complain. You had a very strong week last week, a big surge yesterday. Now a little bit of profit taking perhaps. We did see the futures come off the lows with news of vaccines and trials and funding and all of that, but certainly maybe a slightly lower open. Well see. Meantime, check novavax, talking of vaccines. Coming up next, the president and ceo of that company will join us for a live interview. You dont want to miss it. Its coming up. Businesses are starting to bounce back. But what if you could do better than that . Like adapt. Discover. Deliver. In new ways. To new customers. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back. But bounce forward. Thats why were helping you stay ahead and adapt with a network you can count on, 24 7 support and Flexible Solutions that work wherever you are. Call or go online today. I was drowning in credit card debt. Sofi helped me pay off twentythree thousand dollars of credit card debt. They helped me consolidate all of that into one low monthly payment. They make you feel like its an honor for them to help you out. I went from sleepless nights to getting my money right. So thank you. Me too. Me too. And if youre a small business, were with you. Standing by you every step of the way. Bye bye. Ashley lets take a quick check of disney. Lauren, we finally got some numbers on just how much the release of hamilton boosted their streaming service. I would imagine its a big number. Lauren hamilton is gold for disney. Nearly half a Million People in the u. S. Downloaded disney plus to stream the broadway hit musical hamilton over the july fourth weekend. Very timely, the story of the Founding Fathers for july fourth, that according to a mobile data Company Called apptopia. It was a 74 surge from the four weekends in the month of june. Disney investors are cheering the companys decision to move up the release date of hamilton by one year because of the pandemic. The question now, do these new viewers, most of them paying subscribers, stick around. By my math, disney has to have 56, 57 million subscribers for disney plus right now at the minimum. Ashley at the minimum. Another good move by disney although the stocks down slightly in the premarket. All right, lauren, thank you very much. One more check on the futures if we can, as we say, the dow off about 2ed h ed200 points. The nasdaq down just. 25 . Lets bring in markets watcher ed yardeni. I want to talk about the virus, if we can, and how its affecting our money. You say as long as investors believe that it is a shortterm crisis, in other words, a cure, a treatment is just around the corner, we will be just fine. Yeah, well, i think from the stock market perspective, the question is whether this virus recession, lockdowns, now the gradual reopenings, maybe its two steps forward, one step back, whether that does permanent damage to the earnings power and dividend paying power of companies. I think investors right now believe that we are going to get through this. I dont know whether we are going to have a vaccine or whether we are just going to learn to live with it. Clearly with the setbacks, a lot of people will have to reconsider possibly Wearing Masks. But we are spending a lot of money and there are a lot of possibilities of the vaccines and if that happens, Companies Earnings and dividend power is going to remain relatively intact and i think thats what the market is discounting. Ashley 30 seconds, ed. We have seen big tech, they have been on a tear. Do you still buy into big tech at these prices . You almost dont have any choice. I hate to put it that way. There is so much liquidity poured in by the Central Banks and the most liquid stocks are the biggest ones and most of them are benefitting from the internet, both the current shock of the virus crisis and the aftershocks are all going to make us use more internet and use more of their services. Ashley ed yardeni, thank you so much. We are off and running. Lets take a look at the dow. Expecting a lower open. Down 2ed h e200 points right at very opening. Strong Market Performance last week, big performance yesterday. Not a big surprise but perhaps a little bit of money being taken off the table. The lone stock in green on the dow 30 is apple. Down at the other end there. We have boeing. Lets take a look at the s p if we can. The s p monday, yesterday, up 1. 5 . Today, down half a percent. Still ahead for the week, right . The s p just off 16 points at 3163. How about the nasdaq, gained another more than 2 yesterday. Only down. 25 to kick off the new day, down 29 points on the nasdaq at 10,404. Now lets look at some of the big tech names. Amazon at 3040, down 16 bucks, down. 5 after a record day yesterday. Taking a look at tesla. The stock continues to be on a tear. Down market today but forget about it for tesla, up another 22 bucks. Its a new high, 1,393. Also, another couple of price target raises. That doesnt hurt. Tesla up another 1. 5 . What a story that is. But the big story of the morning, novavax. Joining us now is their president and chief executive, stanley erck. Stanley, thank you so much for joining us today. Bring us and our viewers up to speed on where we are in the process of finding a vaccine. You have just been awarded 1. 6 billion from the u. S. Government. How does that help you and how soon perhaps could we have the vaccine . Well, thank you for having me and its a great award. It builds on what we have already started six months ago back in january, when the sequence gene, sequence was first identified for the virus, we started doing something we have been doing for the last ten years, making a vaccine against emerging infectious diseases. So we make a vaccine construct, we put it into animals, show that its safe in mice, and makes an immune response. We then continue that into nonhuman primates and show the same thing, which has always been a predictor for us of how it will work in humans. Thats the next step. We started human trials now about 45 days ago and we are expecting phase 1 trial results by the end of this month. That will allow us to go into to jump into phase 2 trials. Both in the u. S. And globally. So what the 1. 6 billion does is it allows us to go as quickly as we can clinically into phase 3 trials both in healthy adults and ultimately in pediatrics, in children. And in parallel, we are doing something we usually do in sequence which is scale up manufacturing to very large scale and we have started doing that not only in the u. S. Under this warp speed contract, but under a contract that rewarded us 360 million a couple months ago, we were able to purchase a Large Manufacturing facility in europe and so our plan is to have global manufacturing, europe, u. S. , asia and india. Ashley stanley, just to go back to your point, you actually began the human trials in may and you dont have the results of those until later this month. What if they are not that promising . What does that do to the whole process . You say you would like to have 100 million vaccine doses by the end of the year, but you are banking on those human trials to be positive, right . Sure. And theres a level of confidence there. You know, as evidenced by both contracts, that what we have done in nonhuman primates will translate into human trials. Its been consistent throughout our companys history that that safety and immune response, what we get in babboons, for instance, translates into humans. Ashley very quickly, you are confident, has there been a special challenge with covid . Is it different to other viruses or is this just typical and you are just on the fast track to find the treatment . So this follows a pattern that we have been doing. This is our third coronavirus vaccine. We made one against sars, one against mers. We have made these vaccines against both pandemic and seasonal influenza and ebola. So its a signature of our manufacturing platform that our vaccine generates both good safety data and good immunogenicity data. Ashley for everyones sake, we wish you the very best. Stanley erck, president and ceo of novavax. Thank you so much for joining us this morning to give us an update on the vaccine. Thank you. Much appreciated. Lets take a quick check of the big board for you. We have been down at the opening but nothing no great shakes. 200 points or thereabouts,. 75 off on the dow. Still above 26,000. One more check of the stocks hitting fresh highs. You know those names, amazon, apple, nvidia, alibaba, and of course, tesla. There you go. Mixed bag. Tesla still moving higher, as is apple and nvidia. Alibaba and amazon slightly lower. Susan, youve got some more positive news, right . Tesla. Susan take a look at this stock. Yes. It was up 18 yesterday. I had to do a doubletake whether i saw that because for a company that has just gone vertical this year, 18 in one single session is still breathtaking. Morgan stanley this morning raising its price target on the stock, slapping a bullish case for tesla at 2,070 a share and they say tesla is ready to impress the street in the Second Quarter, whereas they will hopefully and likely report a fourth straight quarter which means they will be including the s p 500 which means index funds also have to buy the stock and that also increases the price. Barclays says this morning they think tesla might be a little overvalued but theres nothing preventing the stock from moving even higher from these levels. The numbers support this bullish case. We saw deliveries in the Second Quarter better than the forecast, 91,000, and those were three months, by the way, when fremont, its only u. S. Car production facility, was closed for half the time so they can produce those type of results and sales only dropped 5 during covid. Compare that to 30 , 50 declines for ford, General Motors and fiat. By the way, electric car penetration, only 4 of the market right now. Think of the Growth Opportunity in the future when more and more people will hopefully buy electric cars. Teslas technology, a lot of analysts say, is far ahead of everyone else. I would say its in a pretty good position but 18 in one day is still something to take a double look at. Ashley it really is remarkable, isnt it. But you cant fight it. Its tesla. 1400 bucks, up another 2. 5 . Susan, thank you very much. Lets take a live look if we can at the white house this morning, where President Trump will talk about how to safely reopen schools. But here in new york, Governor Andrew Cuomo is saying not so fast. We want kids back in school for a number of reasons. But were not going to say children should go back to school until we know its safe. Ashley well, the question is, can children really take another year of Virtual Learning . We are on that story. Meantime, secretary mike pompeo says the u. S. Looking at banning the popular app tik tok. We will tell you what that could look like coming up. Hot topic right now. First, take a look at spotify. My next guest says it could be the next netflix. Does he still feel that way . Does he still feel that way . Im going to it was 1961 when nellie young lost her devoted husband. Without him, things were tough. Her last option was to sell her home, but. Her home meant everything to her. Her husband had been a High School Football coach and it turned out, one of his former players came up with an answer. A loan, created just for older homeowners. And pretty soon, nellie young had one of the first reverse mortgages. Discover if a reverse Mortgage Loan is right for you. Use it to eliminate monthly mortgage payments and increase cashflow, create an emergency fund, preserve Retirement Savings and more. Call now for your free information kit. 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Call now and get your free infokit stuart welcome to the american legal system, sir. What have you got to say about it . The first thing i would say is that the country is in dire need of tort reform. We have [ inaudible ] that provides the mechanism, the process to put closure to the litigation and there are much more important things for the company that we are in business for. Ashley well, that was bayers Ceo Werner Baumann after they settled their roundup lawsuit. They are down nearly 6 . Come in, lauren. Apparently their roundup cancer settlement, not as set in stone as it appeared . Lauren the legal headaches certainly continue for bayer, ashley. Their 11 billion proposal to settle about 100,000 lawsuits related to roundup weed killer potentially causing cancer, hitting a major roadblock. A judge has rejected part of bayers deal that addresses how future claims are handled. Bayer says this. We appreciate the judges order raising his preliminary concerns with the proposed Class Action Settlement which we take seriously and will address at the preliminary approval hearing on july 24th. Whats in question, ashley, is bayers idea to create an independent panel of scientists to determine if the active ingredient in roundup causes cancer. If they say no, those lawsuits are then dismissed. The judge is arguing that leaving the decision to science, which is always evolving, over whether claimants can proceed, may not be appropriate and it may not be constitutional. This is a roadblock. The stock is down 6 . Ashley that is a big roadblock. Lauren, thank you very much. Lets take a look at sirius xm if we can. Thr they are acquiring a Company Worth around 300 million. Sirius xm trying to expand their podcasting presence as spotify and iheart media also making Big Investments in the industry. The stock only down five cents. 5. 83 for sirius. Lets stay on the audio industry and look at spotify, getting a lot of attention from wall street these days. Our next guest says on this very program, that it could be the next netflix. Thats big talk right there. Lets bring in gregg smith, evolution vc partners. Gregg, are you still that bullish on spotify . Good morning, ashley. Yes, i am. I dont know why spotify cant be the next netflix and be a nice addition to the faang faangacronym in the next couple years. Ashley what makes them so good in a competitive market . Just walk around the street. I think their growth will be driven by more and more people buying apples earbud products and i think connected cars and i think they are beginning to really take a page from the netflix playbook, really bringing in their own proprietary content. I think all those three things make up the ingredient of driving this to whats going to be a very large media company. In addition, how Many Companies in the world touch 250 Million Consumers . So they have a very wide audience, a very engaged and Passionate User base. I think we are just in the second inning of music streaming and podcast is really going to drive them to much bigger things to come. Ashley all right. You have made your case. Lets move on. You like peloton as well. A lockdown winner, if you like. You think, though, they can grow five times larger. Why . I do. Peloton is the ultimate or probably the premier connected fitness company. There are three things going for them that are really exciting. They are really at the intersection of what i would say would be content, community and commerce. All those three ingredients together create this flywheel and Network Effect that will continue to drive more and more consumers on to the peloton platform. I really think this has the makings of a cult stock, and if you look at the number of gyms, gym memberships in the United States, its probably 60, 62 million gym memberships in the u. S. , theres another 90 million gym members in the International Markets in which peloton is in, and today they only have about a million or 1. 4 million members on the peloton platform. I think that people are using that, are very passionate about it and they have a huge opportunity to grow and get much larger from where they are. Ashley got 45 seconds. I want to check amazon. Hit another alltime high at the open. You recommended it, gregg, at 2360. Now its over 3,000. Does it keep going up and how high . It does. Look, stocks dont grow in a Straight Line up to the right. We all know that. Does it hit 4,000 . Of course it will hit 4,000. The question is when. Will it hit 4,000 this year or the next two years. What you see with big cap tech particularly in a bull market, whether they approach and surpass the milestone numbers, look at tesla as a perfect example. Tesla just passed 1,000 a few weeks ago, and its already melted up 40 . So amazon passing 3,000 here, i think that was a challenge and i wouldnt be surprised to wake up and see this at 4,000 in a short period of time. Im very bullish. Its a core position and i would not be selling it. Ashley fantastic information, delivered very succinctly. Gregg smith, thank you so much, gregg, for joining us this morning. Much appreciate it. How about this. Chiefs quarterback Patrick Mahomes landing a recordbreaking, eyewatering half billion dollar contract. Its the largest contract in sports history and we will break down the whopping numbers coming up. A very rich young man. He has been spotted wearing socks depicting Police Officers as pigs and he doesnt stand for our National Anthem but that didnt stop disney from signing a Partnership Deal with Colin Kaepernick. My next guest says this news is just fairy dust. She will explain why, next. Hey, can i. Safe drivers save 40 guys guys safe drivers save 40 safe drivers save 40 safe drivers save 40 thats safe drivers save 40 . It is, thats safe drivers save 40 . Hes right there. Its him safe drivers do save 40 . Click or call for a quote today. Ashley all right. Take a look at disney. The stock down 1. 25 this morning. They are teaming up with Colin Kaepernick. They will be producing an exclusive docuseries about race and social justice. Lets bring in Kristin Bentz from kb advisory group. This is the same guy, as we know, who wore socks depicting police as pigs. He also wore a shirt, by the way, to a press Conference Supporting communist dictator fidel castro. All of this seems very undisney like to me. Is it a good move for disney . I think its an opportunistic move for disney. I think their management right now is very reactionary and i think its an opportunistic move for Colin Kaepernick and also one for disney as well. Ashley interesting. So you would say a politically correct kind of move, perhaps . I would absolutely say that. You know, its very much fairy dust hes looking for at this moment. I think thats all you are going to see added to the bottom line right now. Ashley all right. We will move on from that. Lets talk about walmart, if we can. You say they are doing some pretty innovative stuff right now. What are they doing right . Well, 90 of americans live within ten miles of a walmart. So what they are doing right now is solving a problem for their guests. So they are launching a Virtual Summer camp and they are also launching drivein movies which when you think about it, walmart has what amazon doesnt which is a lot of real estate. So folks want to get in their cars, they want to get out. I tack my kiook my kids to the last week. Kind of random but it worked. Its a way to get out of the house and theyre solving problems for their customers. Thats what people will remember. Ashley how does that work . They use one of the walls on walmart . Put a movie on it . Well, if you know those walmart parking lots, theres a lot that goes down in a walmart parking lot. A movie is the least of your worries. So i think they are going to yeah. Ashley yeah. I think thats very innovative. Pretty clever stuff. Last one for you. Brooks brothers, iconic name, but its nearing bankruptcy but there are discussions with a potential buyer. Can they survive . Well, you know, when you think about 50 of americans 16 years old or higher are unemployed in this country right now. Now, its a little early for math, i know, but you think about the percentage of folks that are wearing a suit to go to work which is nil, thats kind of, thats the question if they can sustain themselves in an environment we are in right now. I think its a wonderful heritage brand. I think its a quality brand. I would love to see the brand saved. But at this point right now, i would not be busting out that Brooks Brothers suit. Ashley do you worry, very quickly, for a lot of retailers right now struggling to reopen, struggling still with the virus and desperately trying to language on . I do. Its a daunting time for retail. It took such a huge hit and going back and forth between opening and closing and cleaning and sanitizing and hiring and not hiring, its a daunting task for retail right now. Its also very expensive. I dont think many retailers can sustain. The ones that do are very nimble and very large and have the cash flow to do that. Ashley all right. We will leave it there. Kristin bentz, thank you so much. Drivein at walmart. Great story. Big show ahead still. Coming up, u. S. Chamber of commerce president suzanne clark. Former speaker of the house newt gingrich. Fox friends Brian Kilmeade and former nfl star tiki barber. Hes great. Keep it here on Varney Company. Well be right back. As a caricature artist, i appreciate what makes each person unique. Thats why i like liberty mutual. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Robinwithout the commission fees. So, you can start investing today wherever you are even hanging with your dog. So, what are you waiting for . Download now and get your first stock on us. Robinhood. Ashley it is 10 a. M. In new york city. Good morning, everyone, im Ashley Webster in at that for stuart. Here is where the things stand for the market a lost red on the screen but you know what . Some profittaking can be expected after a strong run in recent days. The dow off 200 points. The s p down a third of a percent. The nasdaq essentially flat at 10,428. By the way we got the latest reading on job openings. Susan, do you have the number . Susan better number than expected. 3. 7 million in the month of may that is higher than month of april. That suggests a recovery. April we saw five million job openings. That is the lowest job openings weve seen in six years. It is hard to relate so that there are 5. 397 million Jobs Available when you have 20 million Americans Still on longterm jobless benefits. Its a backwards looking number. You have to look at the trend. The trend is recovery for the u. S. Economy. Lou all right, great stuff, susan, thank you very much. Two new developments on a vaccine to tell you about. Look at shares of regeneron and novavax. Regeneron announcing a supply agreement for the antiviral, antibody cocktail. That stock up 2. 25 . Meanwhile novavax, up a whopping 32 after announcing 1. 6 billion in new government funding for its vaccine development. Here is what the ceo said in the last hour. Roll tape. We started human trials about 45 days ago and were expecting phase one trial results by the end of this month that will allow us to jump into phase two trials both in the u. S. And globally. What the 1. 6 billion does it allows to us go as quickly as we can clinically into phase three trials both into healthy adults and ultimately pediatrics and and children. Ashley wow, those phase three trials set to begin in the fall. So some optimism there. Lets take a look at apple. Lets move on. A big announcement on screens for the new phones, the new 5g phones. Susan what kind of screens will they use . Susan oled screens for the 5g phones according to nikkei news. Apple is it going allin in phone launch this is year trying to get users to up grade for new iphones. Oled screens are usually for highend lines, like promax 11 line. Even the base models get them. Nikkei news says there will be three sizes, 5. 1 inches, 6. 1 and 7. Fairly similar to last years offering. Apple is amping up for the 5g super cycle. Those phones actively used around the world will bring in a billion. Imagine profit and sales for apple, if only half spring for a new 5g ol led screen this year. What that means for apple stock Going Forward. It is coming without a charger first time which may anger some and no earphones with wires. They want people to buy wearables. Ear pods as they call them. Wearables is a growing business for apple. A fortune 140 company alone if you look at sales. Ashley hitting a brand new high this morning. Apple at 375, almost 376. Susan, thank you very much. Take a look at amazon shares. Amazon breaking through 3,000. Off a little bit today, off 22 bucks but the stock has been on a tear. Greg smith of evolution vc partners says there is more room to run though. Here is what he told us last hour. Roll that tape. Amazon passing 3,000 here. I think that was a challenge. I wouldnt be surprised to wake up to see this at 4,000 in a short period of time. Im very bullish. It is a core position. I would not be selling it. Ashley would not be selling it. 4,000 in short amount of time. That is amazon. Look at some other big tech names that we follow. Those stocks also continue to rally and theyre in the green. Facebook, another alltime high today. Right now at 242 bucks, about 1 gain. Alphabet slash google up again, up 3 4 of a percent. 1511. Microsoft too joining in the party, at 376. That is not right. It just moved. Microsoft, big tech is doing pretty well. Pretty darn impressive. Popular chinese social media app tiktok pulling out of hong kong. The company citing concerns over chinas new National Security law there but the app is facing big issues here in the u. S. Over its ties to china. Listen to what secretary of state mike pompeo said. Roll that tape. Shouldnt we be considering right now tonight a ban on chinese social media apps especially tiktok. Were certainly looking at it. We worked on this very issue for a long time. Would you recommend people download the app on their phones. Only if you want your private information in the hands of the Chinese Communist party. Ashley that pretty much says it. Lets bring in wall street journals bill mcgurn. By the way, bill, tiktok has been downloaded 165 million times in the United States. It is a huge number. The question is, should it be banned . Yeah. Look i have a teenage daughter so im familiar with at least one of those 165 million downloads. Look, what the larger issue with secretary pompeo was getting at in china, we have two distinctions have been erased. One is the distinction between hong kong and china. Theyre now the same in terms of the law, the National Security law. And the other is between private companies and Chinese State government companies. Theyre erasing, the distinction. People keep pointing to tiktok has been moved by this new National Security law in hong kong but there was also a law passed in 2017 requiring all Chinese Companies to turn over information and basically help the Chinese Government in any espionage efforts. That is putting a lot of strain on private companies. Tiktok is really in a difficult place. Lou talking of which, here is how the company is responding to all of this, bill. Says, quote, tiktok is led by an american ceo with hundreds of employees and key leaders across safety, security, product and Public Policy here in the u. S. We have no higher priority than promoting a safe and secure app experience for our users. We have never provided user data to the Chinese Government, nor would we do so if asked. Do you buy it . Yeah. Look i actually have some sympathy for them. I think maybe that is the companys priorities. The problem is theyre operating in china and china does not take that view. China take as view, if youre doing business over here, we get to demand this information. So chinas putting the squeeze on these people. It doesnt matter how Many Americans they employ or they have a ceo at the top or even that they dont like doing this. There is a lot of squeeze on these people. I dont know if you remember, i think it was about a year ago in the protests in hong kong or yearandahalf ago, cathay pacific, the dominant carrier, they were pressured to turn over the names of their employees who had spoken out for democracy. You can bet there were thousands of requests to banks and different places about this. That is the problem. They politicize it. Theyre trying to make their private sector an arm of the government. Ashley quickly, bill, you know it seems to me with regard to hong kong it is really on a fast track now the way the beijing with this National Security law has started to change the conversation there. Reports that children in schools now are not allowed access to certain books, promoting patriotism to beijing and the communist party this is slippery slope going perhaps faster than we realized it would . Yeah. I mean theyre already down. Look at the difference. I never would have believed people would have been arrested the way they have. The police would be so brutal and its amazing. I was a skeptic in 1997. I was there when hong kong returned. I was a skeptic, but even i didnt believe they would strangle the goose that laid the golden egg within 20 years. It is amazing how quick it is. We were fools to believe that a communist society could tolerate a free society within its midst. Ashley yeah. Now were seeing it. All right, bill mcgurn, great stuff as always, bill, thank you very much. Lets get a check if we can on shopify. The stock is postively soaring as of late and it hasnt stopped. Up another 3 , flirting with the 1000dollar mark. One analyst saying, susan that price is a little bit bloated. Susan barrons calls it the most expensive stock on planet earth. 2,000 this years profits, 60 times sales, up over 160 this year. The most richly valued large cap tech company outside the private sector. Underperforming the Broader Market rally because people are capping some of the profits thinking maybe this rally is overdone. You see recovering from those levels. Back above 1000, which means it is above 120 billion in market value. Second largest ecommerce player behind amazon. What this company does, i get a lot of questions, what shopify actually does. It provides software and Payment Services for retailers so they dont have to build the back end themselves. If you ever shopped online, directly off the brands websites checked out a shopify. Wealth says it is rare for a company of this size to quintuple in value a few months time but you really cant deny the growth rate. Piper sandler analyst predicted the company will quadruple sales in the next five years. That is based on permanent consumer shift shopping online after covid but also look at the valuation, 120 billion compared to amazon at 1 1 2 trillion. There is a lot to go for the second largest ecommerce player. Ashley a lot of room to run as they say, no matter what you say it is over 1000 bucks now. Susan, interesting that is shopify. I want to also check monster beverages if we can. That stock up 1 . Lauren, they want into get into the spiked seltzer business . Lauren do you drink white claw, theyre all the rage . Ashley no. Lauren watching their waistline. The stock was up 3 yesterday as well. A lot of people know monster beverage from energy drinks. They might have a new monster hit on their hands if you will. Stieffle says spiked salsesser is coming up. That could boost monster sales by 76 million. They were up yesterday and up today, ashley. Ashley that is a lot of spiked seltzer, thanks, lauren. By the way we have two big sports guest notice lineup, Boston Celtics center ennis cant and giants former running back, tiki barber. Including Patrick Mahomes record breaking deal. Is he worth it. Harvard plans to charge students full tuition despite moving most classes online. Is this worth it . Well get into it. President Trump Holding talks at the white house. He is pushing for schools to reopen in the fall but what will that look like . Were own it next. Usaa is made for whats next no matter what challenges life throws at you, were always here to help with Fast Response and Great Service and it doesnt stop there were also here to help look ahead thats why were helping members catch up by spreading any missed usaa insurance payments over the next twelve months so you can keep more cash in your pockets for when it matters most and thats just one of the many ways were here to help the military Community Find out more at usaa. Com look, this isnt my first rodeo and let me tell you something, i wouldnt be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. Its just a loan designed for older homeowners, and, its helped over a million americans. 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Learn how homeowners are strategically using a reverse Mortgage Loan to cover expenses, pay for healthcare, preserve your portfolio, and so much more. Look, reverse mortgages arent for everyone but i think ive been round long enough to know whats what. Im proud to be part of aag, i trust em, i think you can too. Trust aag for the best reverse mortgage solutions. Call now so you can. Retire better. Ashley well i feel like we say this every day because we pretty much do, the nasdaq hitting an alltime high. Check it out, up another 46 points this morning as the dow and s p are in negative territory, just, but the nasdaq up to 10,479, but a half a percent gain again. Big tech on a roll. President trump pushing the schools to reopen in the fall. He will be holding an event this afternoon at the white house. Lets bring in edward lawrence. Edward, obviously safety is the key but what will be the main discussion . How is this going to happen . Reporter the main discussion were talking about getting kids back to school. Parents, talk about the nasdaq at alltime high, patients patience may be at alltime high. 3 00 p. M. Is the National Debate that the first lady and the president is going to foster inside of the white house. Theyre going to bring together k12 grade professionals as well as Higher Education professionals with students and parents at all levels to talk about how to safely reopen the schools. Now a study in the National Centers for Disease Control found that 29. 1 of adults actually had to miss work in order to take care of some children in some way. St. Louis Federal Reserve found other longterm effects of closures. Parents may be less productive working from home. Gender income gap could widen, two adults income, one forced to be a caretaker. Childrens education may suffer because online classes may be less effect i have, education inequality may widen. Higher income families have resources to help kids learn in other ways. The president s path to victory in november is the strong economy. Part of that is getting kids back to school so parents spend and time to go back to work. Back to you. Ashley absolutely right, it is a key part of the recovery. Edward, thank you very much. The u. S. Chamber of commerce sending a letter to President Trump. Theyre asking for National Guidance on mask requirements, including a model for mandatory mask policies. They make it clear that businesses will not be held liable for refusing entry to people that dont wear a mask. Lets bring in suzanne clark, u. S. Chamber of commerce president. Suzanne, good to have you this morning, my question, whenever i see this at the state level, how do you enforce a mask mandate . I think that is an excellent question and it is exactly the reason we wrote this letter. At the moment we have a hodgepodge of local and state ordinances about masks and employers are not sure what to do. We have got litigation in both direction. People Wearing Masks and people for not enforcing masks. Customers having confrontations in stores. It is the wild west out there. So we need to get National Guidance on what the status says, what the Health Experts say we need to do about mask wearing so we stop this hodgepodge and get to Public Safety and Consumer Confidence levels that get the economy open again. Ashley thats the problem, isnt it, suzanne . Even if there are national strategy, there are those people, weve seen it already, people getting on an airline refusing to keep the mask on when they get on the plane. You will have people who say no. Its a matter of freedom, i will not wear it. Confrontation will be a part of this. As from a business point of view as you say, it is very difficult to know what to do because it could get very much out of hand. Then there are liability issues. How do you deal with this . That is exactly right. The issue is that we want to shut down this virus and we want to reopen the economy and what public Health Experts say the fastest way to do both is for all of us to wear a mask. We have to listen to the doctors, and we have to listen to the science and do whats right to get this virus shut down and get the economy reopened. Ashley is liability, quickly, suzanne, is liability a real issue for businesses . Absolutely. Were seeing number of employees would sue their employers if they got sick rising. Imagine youre a Business Owner. Youre trying to enforce a mask policy on your best customers because if you dont, youre in trouble with your own employees. Really all you want to do is service your customers and get your employees back to a paycheck again. We have to make it easier for the Business Owner if we want to reopen this economy. Ashley we hear you loud and clear. Suzanne clark, with the u. S. Chamber of commerce. Thanks so much for joining us today. We appreciate it. Thank you. Lou key part of getting our economy reopened, how to do it. Lets take a look at the markets if we can, trying to come back. The nasdaq turned positive, hit a new high. The dow down half a percent but s p only down 1 10 of a percent. Look at shares of bayer, shares moving down. A u. S. District court judge rejected a key part of the roundup settlement deal, at issue that the weed killer causes cancer. The judge didnt like some of the writing. That is hurting bayer who thought they had a way out of that big lawsuit legal mess. Harvard is getting backlash for charging few tuition for online learning. Okay, lauren, what are the students saying . Susan theyre mad, saying 50,000 a year for 100 Remote Learning . Theyre outraged. They have to pay full price for classes that they take online. The University Says for the most part up to 40 of students can return to campus, likely the freshman class. That is part of the college experience, right . What it is like to live on campus but there will be so many restrictions including testing of them every three days. Some seniors will be also able to go back but it raises a key question, is it fair to charge full price when youre not offering the full experience, including room and board, ashley. Ashley it doesnt seem right. I get where theyre coming from. Also, lauren, interesting little quirk here. International students are now being forced out if they take fully online courses, right . Lauren forced out of the country. I. C. E. Is telling foreign students they must leave the usa if their school is only conducting Virtual Learning this fall. If they want to stay in the u. S. , and they are a holder of an f1 or m1 visa they must transfer to a school with in person class this is fall. This is blow to the bottom lines of these universities who depend on foreign students as a key revenue source. Heres the thing, if you want you can take the classes virtually from your home country. The worry students arent going to do that, considering the time difference, could be middle of the night for some classes. Also spotty Internet Connections in other countries. Lou yeah. Would not be easy perhaps. All right, lauren, thank you very much. Look at amc theaters. Major movie theaters are suing new jersey. Susan, why . Susan amc, regal, cinema mark, arguing that since new jersey entered phase two of the reopening, includes retail stores, indoor shopping malls and places of worship, including churches, new jersey has no timeline for stage three which is when movie theaters can reopen. On First Amendment grounds i find very interesting in the lawsuit, these movie theaters are arguing if churches can freely open and reside and why cant movie theaters do as well . Going through the plaintiffs challenge, theyre claiming constitutional injury. We have the resurgence of cases across the u. S. , including new jersey. They are being more careful, but you know, amc and the like are saying this is a point of survival for them. Lou yeah. No, i understand. They may have a point with the church issue. All right, thank you, susan. This is interesting. He hasnt filed any paperwork but rapper kanye west is running for president. Pastor Darrell Scott working very closely with kanye. I want to know is this all a plot to take votes away from joe biden . Well get into that. Here is a headline for you, trump will be remembered as one of the most disruptive figures ever to lead us. Newt gingrich is saying that. He will make his case next. My name is janelle hendrickson, and im an area manager here at amazon. When you walk into an amazon fulfillment center, its like walking into the Chocolate Factory and you won a golden ticket. Its an amazing feeling. My threeyearold, when we get a box delivered, he gets excited. He screams, mommys work when the pandemic started, we started shipping out all the safety stuff that would keep the associates safe to all the other amazons. All of these are face masks, weve sent well over 10 million gloves. And this may look like a bottle of vodka. When we first got these, we were like whoa [laughing] with this pandemic, safety is even more important because theyre going home to babies, theyre going home to grandparents. So, our responsibility is to make sure that they go home safe every single day. Lou lets take a look at the markets. I feel like were trying to come back a little bit. The dow up still 153 points. S p essentially flat, down a 10th. Nasdaq motors on. At 10,476. Ashley i want to show you docusign. Were calling this a lockdown winter. Was up 23 in june. Here is what dan ives said about it on this program last week. Roll it. What youre starting to see in the virtual environment, docusign really no competitive environment. They sort of own that market. More and more enterprise group, ecig ture ecig ture, this stock i could double in three years. Ashley did you hear that, double in three years. By the way since dan ives mentioned docusign on this program, shares are up 13 . Just saying. Lets take a look if we can at chinese electric vehicle carmaker neo. That stock at a twoyear high. Susan, pretty much all the ev cars are making even though nnio is down a little bit. Susan record june for this company. Sales jumping 175 from a year ago. We saw tesla china sales tripling, from the month of may. Call it a chinese recovery of sorts. This new electric karzai kel were basing on government subsidies around the world to go electric. Tesla has tripled. Penetration is really low, 4 around the world. It is not just the car companies. We have a candy and electro mechanic to watch in canada. Ashley evs are surging quietly because theyre electric. We have a few bright spots to show you. Look at pulte homes and Toll Brothers if we can. Theyre all in the green. Lauren simonetti, why are they up . Lauren theyre up quite a bit in the past two weeks. Theyre cyclical stocks. Theyre sensitive to the overall economy f you look from june 26 theyre each up about 10 . I want to give you a quote from wedbush. It is pretty bullish. Builders will benefit from the demand in housing this, is a quote, Single Family detached home, the best way to socially distance and improving affordability should hasten peoples desire to have space between themselves and their neighbors. I always wanted space. Now it is imperative, ashley. Ashley certainly is in this day and age. Lauren, thank you. What about pinterest . Lauren take a look today. The stock yesterday was up 7 . If you look since that same marker, june 26th, about two weeks ago, it is up 19 . It is certainly a pandemic winner. People doing arts and crafts at home. It is also a Consumer Discretionary stock. Those were stocks winners in the market yesterday, ashley. Up half a percent yesterday for pinterest. Ashley thank you, lauren. Lets turn back to politics if we can. President trump got both praise and criticism for his speech at Mount Rushmore and our next guest says President Trump will be the remembered as one ofhe quote, most disruptive figures ever to lead the United States. With that said, lets bring in newt gingrich, author of, trump and the american future. Newt, great to see you. Good to see you. Ashley make your case. How is the president is the president the most disruptive figure to lead . Explain. He has taken on the entire establishment. Speech at Mount Rushmore took on the antiamerican left, in most aggressive, vigorous way of any president in modern times. He has taken on the whole power structure of washington, and has followed policies that are very sharp break from the establishment, both tax cutting, deregulation, changes in our trade policy, changes in our National Security policy. I think he is the most disruptive president since Andrew Jackson and i think that he faced a counterattack starting before he was even elected because the establishment knew he was a mortal enemy of all the things they wanted. That is what this fight is about. If you really want the deep state to succeed, you really think an antiamerican left such as joe bidens july 4th statement is where we ought to go, you have got a team. On the other hand if you think we have to recapture the ability to tell the truth about america, despite the new york times, the Washington Post, and all their allies, then i think trump has to be the person you vote for. So it is a huge disruption from where the left thought they would be going. Lou it is interesting. You know, newt, karl rove recently said if he was advising the president right now i would have him push the reset button. He is trailing in the polls. He needs to refocus, get on me advice would you give to the president four months away from the election. First of all, he is certainly on message at Mount Rushmore. Ashley yeah. I think its a very powerful, proamerican message that most people will respond to. Second, i would hope that he would establish five or six big goals, one of which ought to be a 12month holiday from the payroll tax, to get the economy rolling. 100 expensing for businesses, so they can bring all their factories out of china and bring them back home. A, allout effort to let every child have a chance to have school choice, so no child is trapped in a bad school, ruining their life because they cant learn enough to get a job. There are a number of those big things he ought to be for. Then he has to come back again and again, to the biden, pelosi, schumer, team. Not biden by himself, but the biden, pelosi, schumer team what they stand for. I think as people come to understand what they stand for, they will shrink very dramatically in the next 60 days. Lou all right. Well have to leave it there. Newt gingrich, great stuff as always, thank you very much for joining us. Much appreciated. Thank you. Ashley thank you. Nba players are set to travel to florida to play ball. Theyre in that disney bubble down in orlando. Strict Safety Measures are in place to protect staff and players. But the question is, is it enough . Going to ask Boston Celtics center, ennis kanter that question next. We have to ask him about Patrick Mahomes recordbreaking half billion dollar deal with the chiefs. That is a huge sum of money in anyones book. Well have more varney after this. Introducing stocks by the slice from fidelity. Now you can trade stocks and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. Me too. Me too. And if youre a small business, were with you. Standing by you every step of the way. Bye bye. Theyve really stood the test of time. Much like these majestic rocky mountains. Which must be named after the. That would be rocky the flying squirrel, mr. Gecko sir. Obviously ahh come on bullwinkle, theyre named after. Our first president george rockington that doesnt even make any sense. Mr. Uhh. Winkle. Geico. Over 75 years of savings and service. Ashley all right. Lets take a look at these markets trying to come back. The dow still off 191 points. That is about 3 4 of a percent down. S p down. 2 of a percent. Nasdaq continuing on the upside, up a third of a percent. Nasdaq 10,465, hitting a new record high today. Now this, nba players are heading to florida to get ready to play basketball. The players and staff will be kept i guess you call it a bubble at disneys espn wide world of Sports Complex in orlando. The hope is of course to prevent players from get the coronavirus. Time to bring in enes kanter, Boston Celtics center. Thank you for being on the show. I know some players expressed concerns about their health. How concerned are you. Thank you. The state of florida now has more cases than whole of europe but nba, and the Players Association will do amazing job taking care of the players. It is a huge sacrifice for the nba players to just even go there. But players have to take care of themselves first, that is the most important thing, you know. By following the rules. Not living in the bubble. Obviously it wore is all of us but we trust the nba. We trust adam silver, the commissioner. I think they will do an amazing job taking care of the players and the staff. Ashley what kind of Safety Measures being taken and are you comfortable with those measures . I mean, theyre already trying to educate us about what is going to happen inside of the bubble but not leaving the bubble and then, first 48 hours, we have to stay quarantine in our room. We can only, just you know, do certain things. We cannot leave the hotel. But i think you know, we are all itching to go out there to play basketball. So if you ask any players were all dying to go out there and compete. So were all excited about it. Lou well, i cant wait to see you how the there. I want to shift gears a little bit. Ask you about football. Kansas city chiefs signed Patrick Mahomes their star quarterback to a massive 10year contract extension. Right. Ashley a record breaking half a billion dollars. What do you think about it . He is one ever my favorite players to watch. I feel like what makes him so special, he makes himself better and makes everybody else better around him. That is makes him special. If you look what he has achieved the last few years it is unchiefable. The guy is only 24 years old. It is about pure leadership. Im very excited about him. Im excited about the kansas city. I think with his leadership it will definitely going to take next level which is the he already did it. Ashley well, it was as always, great to have you on the show, enes. Thank you. Ashley e. Ashley best of like for the season coming up. Youre raring to go. Were raring to go to watch it. Thank you. Lets take a look at the markets while we do. The dow off nearly 200 points. Enes, thank you. As we said. We had a better than expected jolts number, more job openings. It was 5. 4 million jobs. We thought that may get the market turned around a little bit. Weve down this level since the opening bell. A little bit of profittaking for sure after some Strong Performance last week and yesterday. Of course the dow was up 450 points at the close, so it is not that big of a surprise that were seeing a little bit of money taken off the table. S p down a quarter of a percent, the nasdaq, the nasdaq has been a big story for a while because of big tech. Facebook hitting another alltime high today. Amazon continuing on. Tesla continuing on. All the big stocks we follow so closely every day because they do so much of the heavy lifting. The nasdaq composite up a third of a percent. A modest gain. The nasdaq at 10,469. So there you have it. We also had news today of course of a couple of vaccine stories. Regeneron working on a vaccine and treatment. Novavax getting a Big Government contract 1. 6 billion to work own a vaccine. Human trials could begin in the fall for novavax. There are positive economic signs but well have to wait to see how the vaccine issues work out. Anyway. Lets move on. The Washington Redskins and the Cleveland Indians are now reviewing their names in the wake of black lives matter protests. President trump weighed in on the issue and says the names are out of strength, not weakness. I will be asking Brian Kilmeade what he makes of it all. A new poll shows American Pride dropped to a new loaf. Less than 50 of us are proud. You can bet kilmeade is fired up about that. Well talk to him next. Im a performer. Always have been. And always will be. Never letting anything get in my way. Not the doubts, distractions, or voice in my head. And certainly not arthritis. New voltaren provides powerful arthritis pain relief to help me keep moving. And it can help you too. Feel the joy of movement with voltaren. Yeah. This movingy thing never gets any easier. Well, xfinity makes moving super easy. I can transfer my internet and tv service in about a minute. Wow, that is easy. Almost as easy as having those guys help you move. We are those guys. Thats you . The truck adds 10 pounds. In the arms. Okay. Transfer your Service Online in a few easy steps. Now thats simple, easy, awesome. Transfer your service in minutes, making moving with xfinity a breeze. Visit xfinity. Com moving today. Ashley lets check the market. Dow off nearly 200 points. Been in the same range since the opening bell. S p off slightly but nasdaq hanging in there, up another. 4 of a percent today. I want to check big tech names hitting alltime highs today. Check out facebook up another three bucks or thereabouts or 243. Apple up another 3. 50 at 377. Microsoft up at 214. Netflix at 497. Joining us live on the radio, Brian Kilmeade, host of the Brian Kilmeade radio show. Normally hears statute. Stuart is not in today. It is his birthday. Happy birthday to him. Brian, president is weighing on the idea that some pro teams changing their names, tweeting this, they named the teams, the president says out the strength not weakness. But now the Washington Redskins and Cleveland Indians, two fabled sports franchises look like they are going to be changing their names in order to be politically correct. At least that is the president s take on all of this. The question, brian, is mr. Trump right, are these teams caving to pressure or on the other hand is it time to change these names . What say you . Both. I, here is nike and fedex. You guys plays perfect to your audience. Fedex says i need the name off the stadium if you dont change the name redskins. If you do not put, get redskins off your nickname, im leaving with money. Money drives your channel. And then you have nike, say were not going to be selling redskins paraphernalia at all, cant buy anything saying redskins, merchandise is so much to do success of the teams, that is why they play international teams, they are creating a market. They say get redskins off there. What i have done in the past, talk to the American Indian tribes, most have dont have a problem with the name redskins. I dont see any way the redskins can hold on the name. Daniel snyder is majority owner. 40 is owned by others. The minority owners are leaving the team. They dont like working with Daniel Snyder as well as his controversy with the name. The redskins on turmoil off the field before they even get on the field. I dont see any way the name lasts for the year. There is a lot of pressure on the league to move it. In terms of atlanta, theyre leaving it. How much pressure is on the chiefs. To me the chiefs, captains of the generals, what is the problem . Dont you want the American Indian name at all to be part of vernacular, culture at all . Do you want it eliminated . I know you dont want it insulted, warriors could that be going next . Indians as Cleveland Indians, they think they will move it. Ashley yeah. Its, where does it stop i guess is the question there. Blackhawks . Ashley right. I mean, i forget how many there are, but youre right, where does it stop . I want to move on to this. Youve been traveling across america visiting your Historical Monuments in your fox nation show, what made america great. It is interesting. Thank you. Ashley new gallup poll shows 70 of americans are proud of the country, that is the good news but only 45 americans say they are very proud which i find very interesting. That is a record low by the way. What do you make of it . Im surprised they got 70 like america. If you see the negativity, if you watch Cnn International you would think this is the worst country on planet. Were still the land of opportunity, that that still stands. Were still here, taking it for granted, jammed down our throat Thomas Jefferson had slaves, Benjamin Franklin didnt, john adams. Well be left with three statues, john adams, Benjamin Franklin and alexander hamilton. The rest part of americas past, these are checkered, these are not perfect figures. Henry ford didnt seem to be too, seemed to have an antisemitic streak. You look back, took an award from hitler. Note sure what he did. His Entrepreneurial Skill in the 1930s. That is not a positive. Should we abandon fords . Thomas edison, did he have problems . I heard he had a quick temper. Im wondering when all said and done, will we look back to say, man, im so proud to be part of a country where steve jobs was here. I heard steve jobs was not a great family man. I heard he didnt treat his employees very well. Were proud of elon musk, maybe not proud of him how he acted on joe rogans podcast. Maybe we should ask the russians for a ride home. How can we possibly live up to the standard . Look at the what they did in greatness. Understand theyre fallible. Look in the mirror. I forgot. I have weaknesses too. Ashley yeah. No, i think that is absolutely wellsaid. Im sure hearing a lost that on your radio show. Were out of time, Brian Kilmeade. I could talk to you forever. I would say see you in the hallway. I will not see you in the hallway were still in our own homeworking areas. Im in new york, baby. Im in new york. Ashley good for you. 1211 sixth avenue. Taking all visitors. Ashley take care. Congress is working on another virus stimulus package. I want to know what that could look like. I will ask pennsylvania congressman dan muser about that. Plus pastor Darrell Scott, he worked a lot with kanye west. We want to know if the rappers president ial bid is for real . Well get into that. Nfl legend tee key barber is here. What does he think of the redskins and indians changing their name . I will ask him. The third hour of varney after this. So, if your networks down, youre down. Verizon knows your customers need to reach you seamlessly. Your team needs to work from different places across many devices. Plus, you want the security trusted by some of the Largest Companies in the world. And thats why you trust us. The most Reliable Network in america. It was 1961 when nellie young lost her devoted husband. Without him, things were tough. Her last option was to sell her home, but. Her home meant everything to her. 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But best of all, it eliminates those monthly mortgage payments so you get more cash in your pocket, every month. Learn how you can use a reverse Mortgage Loan to cover your expenses, pay for healthcare, preserve Retirement Savings, and so much more. A lots changed since 1961. Since then over a million Older Americans have used a reverse Mortgage Loan to finance their retirements. It meant so much to nellie, maybe it could mean as much to you. Call now and get your free infokit ashley and good morning, everybody. It is 11 00 a. M. On the east coast, and the markets for the most part have been on the downside, certainly the dow down 172 points. The s p essentially flat at 3176. The nasdaq continues its march upward, hitting a new high this morning, up right now 51 points at 10,485. Good morning. Im Ashley Webster in for Stuart Varney today. Today, by the way, is stus birthday. Happy birthday. Is that in my head . Okay. There you go. Lets take a look at thehit high as well as several big tech stocks. Check these out. Amazon, apple, microsoft, all continue to reach for the sky. Amazon just turning slightly negative, down six bucks. Still well above 3,050. Also been a blockbuster day for alibaba, nvidia, tesla. Take a look at facebook also hitting an alltime high at 244. Netflix closing in on 500 bucks. Alibaba just turning slightly negative. Its been on a strong roll. Tesla at the bottom, up another 16 bucks at 1386. Lets bring in susan. Theres no other word for it. Its on a tear. Susan vertical. I call it vertical. Thats pretty much if you look at the stock chart how its gone this year, tripling so far in 2020. Morgan stanley this morning raising its price target, slapping a 2,070 prediction for the stock as its bold case. They say tesla is ready to impress everybody with the Second Quarter profit and then some, according to them. Barclays says even though they think tesla is overvalued this morning, theres nothing from keeping the stock moving higher from here, believe it or not. Now, the numbers really back up the bullishness. For instance, we saw deliveries in the Second Quarter better than forecast, 91,000. Those are three months, by the way, when fremont, its only u. S. Car production facility, was closed for half the time. Sales globally only dropped 5 during covid, compared to the 30 , 50 decline for fords and General Motors of this world and yes, we will likely get a fourth straight profit from tesla, meaning it will likely be included in the s p 500 index. You know what that means. That means index funds have to include it and buy the stock. Theres a lot of bullish flashing signals for teslas stock. Ashley hes had a pretty good time of it recently, elon musk, no doubt about it. Susan, thank you very much. With that, lets bring in market watcher brian belski. Great to see you. I want to talk big tech. To susans point, its gone vertical. That means alltime high prices. I have not jumped in yet and i would imagine many have but some havent, how do i get into big tech right now . Its expensive. Its a great question. Expensive is a relative term. You can make a case that apple is a value stock with how much cash it has on the balance sheet. It depends upon what you are really looking at. I think from a perspective standpoint, you know, from our lens, tech is not as expensive as 2,000. Many people are starting to talk more about that. If you use an inflation adjusted p. E. And account for interest rates, they are not as expensive and also, too, people have to remember that the tech sector really led to the capacity led recession in 2000, 2001 because we flooded the system with technology. I dont think necessarily we are flooding the system with Technology Equipment like we were in 2000. I think it is different with respect to the Services Side of things and really, the phalanges of consumer industrial, with the broader services sector. We remain overweight technology. We are very select in our ideas there. We dont own them all. I think thats why buying an etf versus buying stocks, we would much rather buy stocks and have positions in apple and microsoft and those types of names relative to picking an etf which is much more diverse. Ashley next one for you, i want to focus on the s p with you. You say its going to hit 3400 by the end of the First Quarter in 2021. What makes you get to that number . Well, great question. We transitioned our calendar year number to a rolling 12month number in march and we came out with that report on march 23rd and said we believe the s p 500 will hit 3400 by the end of the First Quarter of 2021, really based on what we believe is going to be a very strong second half recovery but we also said too in that report that stocks would rally 40 to 50 from the lows and of course, we were very panned by that call in march 23rd. Now obviously stocks have been on a tear and i think we have a bit of a showme quote unquote market, quite frankly, for Second Quarter earnings in particular, and we know that carrying to facts the consensus number will be down 40 but we actually think the number will be better following the data, following the trends we have seen with respect to Economic Data. Clearly Economic Data, the majority of it quite frankly is coming in either less negative or slightly better than what we would like to call bombastic forecasts we saw on the down side that came out in february and march. Ashley its a good word. We havent used it yet today. Bombastic. All right, brian, we are out of time. Great information as always. Thank you very much for joining us. Lets talk about palantir if we can, the Big Data Analytics firm. Susan li, come back in. Looks like they are going public. Susan peter thiel founded in 2004. Its one of the oldest Silicon Valley unicorns but one of the more secretive ones as well. The company does a lot of work with governments around the world selling software in order to gather and analyze big data. But they are also working with big corporations. Palantir, you think you have heard the name, you might have because it was credited with helping the u. S. Government capture osama bin laden. The markets have been looking for an ipo, some sort of public listing for close to half a decade now and palantir has been valued privately for as much as 20 billion. But like other billion dollar unicorns that we have seen the last few years, it hasnt turned an annual profit in its entire 15, 16 year history and has repeatedly missed promises to actually make money at some point. Most likely this will be a direct listing so they wont be raising new cash, they wont be selling shares. This according to the wall street journal. They will probably just introduce themselves to the market, kind of like what spotify did with these direct listings, and slack did, because they also save on Investment Banking fees and they dont really need to raise money, since theres a billionaire backing the entire company in peter thiel. Ashley yeah, that helps for sure. Susan, thank you very much. Quick update on some of the Market Movers this morning. Lets begin with regeneron. They have announced a manufacturing and supply deal with the department of defense for its antiviral antibody cocktail. That stock as you can see, up modestly, up 3. 5 . Another 22 bucks, 649. We are also showing novavax, another biotech firm. They also are up this morning, more impressively, up 28 . Another 22 gain. Novavax at 101. They got a 1. 6 billion funding from the government to develop their own virus vaccine. We spoke to the ceo earlier. And bayer, not out of the woods yet with their roundup cancer settlement. A District Court judge here in the United States has a problem with some of the wording in this case on the precedent it sets for future cases and its looking like hes going to block that 1. 1 billion deal, so more headaches, legal headaches for bayer apparently. That stock down 5. 5 or thereabouts at 17. 85. Lets get to the retailers. Lets talk about Brooks Brothers. Lauren, come on in, because they are basically treading water, nearing bankruptcy. Lauren i love your suit, ashley, but you might be one of the few people wearing one. The nations oldest clothing retailer, Brooks Brothers, its true, expected to file chapter 11 bankruptcy this week and be bought in bankruptcy. So fox business is reporting that a potential buyer is solitaire partners but others could emerge, sparking a bidding war. Brooks brothers demise, it was clear. First Many Companies relaxed their dress codes, now with the pandemic, most people are working from home so suits and dresses that you wear to work, they are simply not selling. Ashley i have never been accused of being a fashion icon but you dont know if im wearing shorts or not. Anyway, we wont get into that. Lauren stand up. Ashley no. Moving along swiftly. Speaking of bankruptcy, check pier 1. They filed back in february, closed all of their stores because they couldnt find a buyer. Wait, that may have changed. Lauren they might be getting a lifeline from a branding Company Called retail ecommerce ventures. Its a 20 million cash offer. It would buy pier 1s intellectual property and their website operations, so not the physical stores. But they may not be the only bidder. Pier 1 is now planning a bankruptcy auction tomorrow with a decision coming by the end of july. This news is very encouraging to other companies that have filed for bankruptcy since the pandemic. Look at this long list on this screen. Jc penney, stage door, neiman marcus, j. Crew, the list goes on. This could be encouraging for all these stores and brands that have filed chapter 11. Ashley some very wellknown names on that screen as well. All right, lauren, thank you very much. Next one, samsung reported earnings yesterday. Profits up around 23 . That sounds good. But susan, they have Just Announced a new charger that sterilizes your phone . Susan samsung makes a lot of things, including washers, dryers and yes, even chargers and phones and now they are offering a new uv charger that can sterilize your phone as well as charge it. Selling for 65, its a ten watt wireless charger that tops up your phones battery and reportedly kills 99 of the bacteria with uv light. It probably comes in handy in these covid times. Getting back to the actual earnings, we talked a lot about apple, which is americas Biggest Company but samsung is the worlds Biggest Smartphone shipper and samsung issuing that Profit Guidance last night for its upcoming earnings, saying earnings will likely increase around 23 , better than it did last year. Now, they didnt break out the specific business lines but did say display will see a oneoff gain because its an interesting dynamic that samsung has with apple. Not only are they smartphone competitors but samsung is also a supplier when it comes to displays and that oneoff gain comes from apple ordering more of them for their new iphone 5g rollout. Ashley interesting. That sterilizer could be a big seller. Susan Christmas Present for me. Ashley there you go. President trump speaking out amid growing calls to rename the Washington Redskins. He says they name teams out of strength, not weakness but is it time for sports to get p. C. . We will ask former new york giants star tiki barber on that issue. Nearly 45,000 new cases of the virus recorded just yesterday. Now the pressure is on for congress to come up with a new virus bill with a liability clause. We will explain. But first, kanye west is running for president but some critics say its all a plot to take votes away from joe biden. That is next. Every time a fund manager sells a stock it triggers a Tax Liability for you. And the higher the turnover the more you have to pay in taxes every year. Thats why you want to own low turnover funds. The less you pay in fund fees, the less you pay. Thats why you want to own low turnover funds. 49i found you good job. Now im gonna stay here and you go hide. Watch your favorites from anywhere in the house with the Xfinity Stream app. Free with your xfinity service. Now any room can be a tv room. Stream live tv, on demand shows and movies even your dvr recordings. Download the Xfinity Stream app today to stream the entertainment you love. Xfinity. The future of awesome. Ashley on this tuesday morning, we remember a Country Music icon. Famed fiddler and in his later years, an outspoken conservative, charlie daniels, who passed away at the age of 83. Here he is on this very program back in 2017. Roll that tape. When the good lord calls me home or people get tired of hearing me, but you know something, i love what i do. I sincerely love what i do. I love getting on stage every night and playing music that i have created for people and having them enjoy it. It just dont get no better than that to me. Ashley charlie daniels, the father of the fiddle as some would call him, dead at the age of 83. He will indeed be missed. All right. Next one. Today is being called blackout day. This is where supporters commit to spending money only at blackowned businesses. Lets bring in pastor darryl scott to talk about this. Black voices for trump 2020 cochair, we should say. Pastor, what do you think of this movement . Well, first of all, thank you for having me. I think that the principle behind this movement is noble but the practice actually doesnt match the principle. When were encouraging blacks to only support blackowned businesses are they saying only support blackowned retailers, blackowned retailers aside from nonblack suppliers, nonblack distributors, nonblack manufacturers . When you look at it, when you do a tracking, ultimately some nonblacks are going to be impacted or benefit from this practice. I understand the principle behind it but the practice and the principle dont match up and actually, in this day and age when we are calling for unity and we are calling for equality, what we are actually calling for is a nationwide discrimination against white businesses. Imagine the outrage if white Companies Said you know what, we are only going to do business with whites today or if a latino says we are only going to do business with latinos today. It would be a nationwide outrage over these discriminatory practices. I understand once again, the principle but the practice is not going to match up to the principle. [ speaking simultaneously ] ashley right. I hear what youre saying. Another one for you, the first black fed president working out of atlanta is warning that systemic racism, he says, has taken a toll on the economy. Do you agree with that assessment and what can be done to right those wrongs, so to speak . Let me say its taking a toll on the economy. We have to have a deeper dive into what he actually means by that and when he accuses the fed of systemic racism, the feds job is to promote growth in Banking Institutions and federally fdic institutions. If im not mistaken, there are over 5,000fdic insured lenders in the country and only 21 of them are blackowned. So we have to promote growth among blackowned Financial Institutions, minorityowned Financial Institutions as a whole,to say the least. I dont know if racism is systemic. I believe the opportunities have been provided and that we have to take more advantage of these opportunities provided to black banks. Im actually working on an initiative with my partner to stimulate growth in minorityowned Financial Institutions, and so far, we havent experienced any racism in the sense that we havent been excluded from any of our endeavors which theres a scripture in the bible that says let people perish from lack of knowledge. People need to get educated in this field, this arena so we can take advantage of opportunities afforded by the fed. Ashley very good. I have to ask you about kanye. You have worked closely with limb. What is your take on his bid for president . Some critics say hes just trying to take votes away from joe biden. Whats your take on this . Im amazed but not surprised. Nothing that he does surprises me. Now, now its a whole new Conspiracy Theory out there that kanye west colluded with trump to drain votes from joe biden. So this tells me joe biden is worried about kanye west taking his votes . That tells you the type of candidate that joe biden is and there is actually a groundswell of black people that will vote for kanye west. White people, too. As kanye west emerges as a serious third party candidate, well, according to the democrats he has because the republican party, we find it amusing. The Democratic Party finds it alarming. Kanye, im not surprised. Ashley is this tongueincheek, though . Is there just a little inkling of you know what, why dont i run for president. Hes going to run i believe and hes going to get some votes. He wont get any of Donald Trumps votes, though, ill tell you that much. If he does get votes, its joe bidens votes. Can you imagine kanye west, this is what i would love to see, i would love to see kanye west, joe biden and donald trump on the debate stage together. I would love to see it. I would pay big money to see those three on the debate stage together. I would love it. In fact, i might start a petition for it. Im advocating for it. I want to see those three together on the debate stage. Ashley i would pay good money to watch that and i would love to see how joe biden would handle it. It would be fascinating. Pastor kanye would tear joe biden to shreds. We wouldnt be able to understand anything he says. We wouldnt be able to understand either one of them. I tell you one thing, it would get good ratings on television. Ashley it certainly would. Put it out there, you never know. Stranger things have happened. Pastor darryl scott, thank you so much. Great to speak with you this morning, as always. Thank you. By the way, we had big news out of brazil. President bolsonaro says he has, in fact, tested positive for the coronavirus after reportedly feeling unwell and running a high fever. Bolsonaro is 65 years old. There you go. We knew he had some symptoms. It is official. He has tested positive. Quick stock check for you. Costco reporting earnings this week but for now, they are reducing their senior shopping hours when only members 60 and older are allowed to shop. Starting next week it will only be on tuesdays and thursdays. Costcos stock up nearly 1 at 314. Taking a look next at paychex. Earnings out earlier this morning. Revenue was up 7 from the last quarter and they have introduced new tools that will help businesses keep better track of their employees working from home. That should be a good tool, right . The stock, though, down 2. 5 at 75 bucks. Walgreens also reports earnings this week. They are partnering up with humana and mckesson to encourage people to return to Doctors Office visits. Remember those . Walgreens, by the way, just also moving lower, down about 2 at 42. 37. Levi strauss are reporting after the bell today. That stock down leading up to those earnings, down 4. 3 at 13 bucks. Now, take a look at your screen. One of these nfl stars, one of them, just signed the biggest contract in sports history to the tune of 503 million. We will tell you who coming up. If you have been watching the show since the beginning, you know. First, secretary of state mike pompeo says the u. S. Could soon ban one of the most popular apps in the world. What you need to know about tik tok and your privacy, coming up. By the end of my world tour im going to turn all the trolls into rock zombies. Rock and roll we will overpower them with glitter. Ashley overpower them with glitter. That was of course a clip from the animated hit Trolls World Tour which is out now on home video after a limited run in theaters and on demand release. So parents, some good news for you. You no longer have to keep paying ten bucks to rent the movie every three days. Who wrote that . Someone with kids, young kids wrote that with a little bit of feeling. But listen to this. You can soon catch Trolls World Tour at a walmart parking lot. This is fascinating. Because, lauren, they are converting them into drivein theaters. Why not. As well as hosting a summer camp for kids. Lauren walmart is doing everything. Everything, ashley. So 150 of their parking lots will be drivein movie theaters this august through october. Family can come, watch a show and even order snacks. Now, another part of walmarts socially distant summer, if you will, is virtual camp. It starts tomorrow. Its free. Camp counselors include neil patrick harris, lebron james, lead you through physical activity, a talent show with idina menzel. Imagine that. Walmart is really giving i think of amazon a run for its money as a company that is in everything. Its interesting that walmarts stock on the year is slightly higher, almost flat, but since covid, its up 11 . Ashley they are so innovative. You have to take your hats off to walmart. Interesting stuff. Thank you. Tik tok, that video platform, is becoming rapidly becoming one of the most popular apps in america. Might be banned in the u. S. , though, right, susan . Susan secretary of state mike pompeo telling fox news that its something the government is seriously considering. Listen. Shouldnt we be considering right now tonight a ban on chinese social media apps, especially tik tok . We are certainly looking at it. We have worked on this very issue for a long time. Would you recommend that people download that app on their phones . Only if you want your private information in the hands of the Chinese Communist party. Susan tik tok in response to our questions says we have no higher priority than promoting a safe and secure app experience for our users. We have never provided user data to the Chinese Government, nor would we do so if asked. Now, they contend that their servers are based in the u. S. Backups are in singapore. They also recently hired away disneys streaming boss as its new ceo. Tik tok one of the most downloaded apps on the planet, downloaded over two billion times so far. Its also making news by pulling out of hong kong after the implementation of the new chinese National Security law for hong kong which means beijing not only has the authority to arrest and jail hong kong residents on a wide range of issues without, by the way, hong kongs input but it also gives them sweeping powers to control hong kongs Free Internet so many prodemocracy activists have been scrambling either to shut down or wipe their social media accounts on concerns that anything that they may have posted could be used to arrest and jail them. Facebook, twitter and google say they will pause on reviewing any Hong Kong Government request for user data until they can assess further whether or not this impedes or basically violates any human rights. Tik tok, though, wasnt even making money in hong kong. They only had 150,000 users out of the seven million residents and they say why not just cut our losses, protect on the down side and just shut it down in hong kong entirely. Ashley yeah. Probably a good idea. All right, susan, thank you. I want to take a live look now at capitol hill, where congress is working on another coronavirus package but Senate Majority leader Mitch Mcconnell says its important to have a fiveyear lawsuit shield for businesses, saying this. Quote, this is not over. We had hoped we would be on the way to saying goodbye to this health care pandemic. Clearly it is not over. Unless you are grossly negligent or intentionally engaged in harmful behavior, you shouldnt have to be penalized by getting sued on top of Everything Else so there will be in there for that liability clause, will be in there, i guarantee it. Thats Mitch Mcconnell. Lets bring in pennsylvania congressman dan meusser. I guess my question is will the democrats let that pass with the liability clause in it because its vital to businesses. Hey, ashley. First i just want to say thanks for doing that tribute to charlie daniels. I saw him a few times ashley oh, yeah. He was a great american. No, we will be headed for battle here. You got to remember when we first did pass the cares act, nancy pelosi and the democrats had a very far left plan for spending. We brought them around, we finally got the cares act passed which took a little while but it really treated each segment of the economy in a very important way. We took care of families, took care of employees, took care of employers with the ppp which worked out tremendously well, the 500 billion over five million companies. So the fed stepped in. We did some really good things. Now we are ready for another battle with democrats, with nancy pelosi leading the way, of course, have come out with the heroes act which is a wildly far left wish list. I mean, it includes recovery checks for illegal immigrants. It does extend the unemployment supplement. It changes election law. And it mentions cannabis 68 times. So yeah, we are starting from a very far left standpoint and Mitch Mcconnell came out with to lead off with exactly what we need. Weve got to have that liability waiver coverage and for schools, the first thing we got to be focused on in this recovery, in this next phase of this act, is to open the schools. The schools are very concerned about liability, particularly private colleges. Ashley absolutely right. All right. Going to move on. President trump as we know won pennsylvania in 2016 by less than a percentage point. It was razor thin. But hes now behind by more than 6 in the latest realclear politics average poll, if you believe polls. So the question is, do you think he can still win pennsylvania . Well, yes, i do. Donald j. Trump has not lost a vote in pennsylvania. The enthusiasm is very high. He delivered on his promises. We had a great economy, we had wages up, we had the lowest unemployment in spite of our very liberal government and high tax state. We did very well, we brought manufacturing in and with Peter Navarro and donald trump we have even a better plan, they have a better plan for manufacturing. Heres the thing. 57 out of 60 media hits have been negative that people see. We are going to start spending some money, we are going to get the truth out. And when we do, people will see that joe biden wants the ban fracking. That would only cost us 500,000 jobs. He wants to make beto orourke in charge of gun control. Wants to eliminate coal. Hes going to raise your taxes. He stated that. People are going to see hes for sanctuary cities, against the border wall. People are going to see joe biden is a lot like an onion. The more you peel him back, the more you cry. Ashley all right. We will leave it right there, congressman. Thank you so much for joining us today. We much appreciate it. I appreciate seeing you. Ashley thank you very much, congressman. Quick programming note. This thursday, fox businesss neil cavuto will be hosting our next america together virtual town hall. He will have special guest barbara corcoran, quicken loans Ceo Jay Farner and hovnanian ceo ara hov n ashga hovnanian. Send in your questions investedinyou foxbusiness. Com. Also coronavirus testing causing major delays for the Washington Nationals. Those problems now casting doubt on the shortened baseball season. A live report from Nationals Park right after the break. This is decision tech. Find a stock based on your interests or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. vo touch and go. Handwriting recognition and the audi a4. Ashley lets check the markets for you. The nasdaq hit an alltime high earlier. We told you about that. Its still higher. Lot of the big tech names are at record levels as well. Very impressive. And the s p, if that ends in the green, that would be its longest winning streak in more than a year. The s p essentially flat at this hour. The dow still off 190 points or thereabouts. Now this. Coronavirus is hitting the ice rink. 35nhl players have tested positive for the virus since june 8th. Its not the only sport that is having issues. Defending World Series Champions the Washington Nationals had to cancel practice because of a breakdown in testing. Hillary vaughn is at Nationals Park. Hillary, what happened . Reporter ashley, well, they are actually back working out this morning after some of Major League Baseballs biggest players were stuck in the dugout when three different clubs had to cancel their monday workouts because they did not get their covid19 test results back in time. The houston astros, st. Louis cardinals and Washington Nationals all postponed their workouts yesterday. The nats general manager telling the League Without accurate and timely testing, it is simply not safe for us to continue with summer camp. Major League Baseball needs to work quickly to resolve issues with their process and their lab, otherwise summer camp and the 2020 season are at risk. Opening day is a little over two weeks away but the nats are headed into a shortened season with a shrinking roster. Two of their players tested positive for covid19 but both of them had not returned back to Nationals Park yet. We are also learning the Washington Post is reporting the nationals outfielder juan soto is in isolation after coming into contact with one of those players. Three nats players are also opting out of the season all together over safety concerns, ryan zimmerman, joe rock and wellington castillo. The mlb admits there were delays getting results to the teams over the weekend because it was fourth of july weekend but they said 98 of the results were completed by sunday night, but monday morning, there were still 86 tests that were left in limbo. And we also are learning the mlb announcing opening day, the Washington Nationals will host the yankees right here at Nationals Park but they will be playing in front of an empty stadium. So any fans that want to root on the reigning World Series Champions will not be able to go inside and cheer for their team but they will have to stay outside. Ashley . Ashley yes, they will. Or watch on tv. Hillary vaughn, thank you very much for that. Staying on sports, President Trump tweeting about team name controversies, writing this. They name teams out of strength, not weakness, but now the Washington Redskins and Cleveland Indians, two fabled sports franchises, look like they are going to be changing their names in order to be politically correct. Hm. All right. Lets bring in tiki barber, former nfl running back. I would be very interested to find out what do you think these teams should do and will they change their names . What do you think . Well, good morning, ashley. The thing thats politically correct is a little bit dismissive of the feelings of a lot of people including native americans in this country when you are talking about the team in washington. They view it as a pejorative and dont want to be called it, dont want to be mascots for American Sports teams. But what really this comes down to, is finances. Fedex field, who is the sponsor for the Washington Redskins, has put pressure on them, nike has stopped selling the gear of washington right now, so at the end of the day, its an economic decision that ultimately hopefully leads to the right thing as it pertains to a lot of people in this country who are offended by some of these mascots for sports teams. Ashley so you think its long overdue, basically. It has been long overdue for awhile. I know its a branding thing. I know that the skins have been synonymous with washington and that team for a really long time. They have super bowl champions, theres gear thats been sold. But you kind of have to look at this as a way to reinvigorate your team and make it fully inclusive, just like nascar when they banned the confederate flag. They want it more inclusive. Obviously theres going to be emotional backlash to that, but at the end of the day, i think its a net gain for sports. Ashley okay. Want to get into this with you, if i can. Kansas city chiefs quarterback Patrick Mahomes, this is the kind of contract we would all dream about, right, the largest contract in sports history, tenyear deal, ten years, worth up to half a billion dollars. In anyones book, thats a lot of money. What do you think . I think its fantastic. Patrick mahomes is the perfect guy for this. Hes a super bowl mvp, hes a league mvp all before hes 25 years old. Hes got this charisma about him. Hes multicultural. He looks the part, he talks the part. Hes a genuine leader and ultimately going to be the face of the National Football league. If you are the Kansas City Chiefs and you can lock him in for a decade, it sounds great. Now, the actualities of the contract mean its likely not a tenyear deal, more around five or six years and they will have to make a decision on what to do then. But relative to the salary cap, we all know the nfl is a cap sport, it feels like its a big number but by 2025, with the new tv deal just around the corner for the National Football league, the cap which is currently just under 200 million willik 300 million, so his exorbitant salary, at least what it feels exorbitant now, wont actually be that high relative to the cap. So i think its a great deal for everyone. Pat mahomes feels great, kansas city feels great and the nfl for the first time i think maybe ever has the largest total sports contract in sports history. Ashley you and i need his agent. Thats for sure. Tiki barber, great stuff. Great stuff as always. Thanks for joining us today. We appreciate it. Any time. Be well. Ashley all right. Thank you, tiki. Now this. We are getting reports that walmarts amazon prime competitor will launch this month. How about that. Walmart plus. It will cost 98 a year and include same day delivery for groceries and merchandise. Members will also receive discounts on fuel at walmart gas stations as well. Very interesting development. Walmart, up 3 on that news, 122. All right. In the latest blow to fossil fuel projects, a court orders Dakota Access pipeline to shut down and empty out by next month. We will ask north dakota senator john hoeven what that means for the states economy after the break. I had shingles. Horrible. A young thing like me . [camera man] actually anyone 50 or over is at increased risk for shingles. The pain, the burning my husband had to do everything for weeks. And the thing is, theres nothing you can do about it [camera man] well, shingles can be prevented. Shingles can be whaaat . [camera man] prevented. You can get vaccinated. Frank they have shingles vaccines whaaat . Thats what i said. Were taking you to the doctor. Not going through that again. [camera man] you can also get it from your pharmacist talk to your doctor or pharmacist about getting vaccinated. Talk to your doctor or pharmacist because now you can expewatch all your favorite hulu shows and movies on xfinity. Youre only a voice command away from Award Winning shows like the handmaids tale, to new hits like little fires everywhere. And fx originals you can only watch on hulu. Thats just the beginning of what you can experience with hulu on xfinity. Tv made simple, easy, awesome. The decision by duke and dominion, however, is just very disappointing because its such a lost opportunity. Its a lost opportunity because of the number of jobs that would have been created in places like west virginia, pennsylvania, ohio, virginia and north carolina. The other lost opportunity here is Lower Energy Costs for all of the residents in north carolina. Ashley well, that was Energy Secretary brouillette talking about duke and Dominion Energy scrapping plans for an east coast pipeline. Want to bring in north dakota senator john hoeven. Senator, thank you for joining us. You too had a big energy setback, did you not . Good to be with you. The Dakota Access pipeline, 570,000 barrels a day of light sweet crude moved from north dakota, much of which goes to the east coast there, and if they dont get that light sweet crude from us, they have to get it from opec, from offshore. So this decision by the judge to actually shut down the pipeline while theres an additional Environmental Review not only is bad for our state and really hurts all these companies out here and employment but its bad for the country. Ashley also, you know, to the point that the Energy Secretary made, certainly its lost jobs but also, it can make energy more expensive. Those are the types of things that never get talked about. Its easy to file a lawsuit to block something but in the end, the Ripple Effect is quite significant. Right. Remember when you increase that transportation cost, it increases costs to consumers and reduces the price that our producers get which puts more of those companies out of business, and at the same time, remember, this pipeline has all of the latest safety features. Its been operating without incident for three years and now you are going to move that oil to rail, you know, which costs more and is not as safe. Ashley very quickly, senator, the oil prices have still not recovered. How is that hurting your states oil industry . Well, we are down from 1. 5 Million Barrels a day, again, light sweet crude, down from 1. 5 million a day down to under a million a day. Thats Domestic Energy now that our consumers arent getting and they got to get it somewhere else and of course, it really hurts our people and jobs and the economy. Ashley it certainly does. Well, thank you for joining us. Im sorry it was so short and sweet. Great to hear from you, senator john hoeven from north dakota. Thank you, senator. Appreciate it. Thanks, ash. Ashley thank you. More varney after this. As the original host of wheel of fortune, i was blessed to be part of building one of the greatest game shows in history. During that time, we handed out millions of dollars to thousands of contestants. And i thought, what if we paid the contestants their winnings in gold instead of cash and prizes . Back in 1976, we had a wonderful contestant named lee whose threeday winnings were valued at 12,850, and you know what . That was a pretty big haul back in 1976. So i wondered, what would have happened if lee had put 12,850 in cash and then put 12,850 in gold in a safe, just sitting there sidebyside from 1976 until now . Well, i went back and i ran the numbers, and what i found was amazing. We all know that 12,850 in cash would still be sitting there, but it would be worth a whole lot less than it was in 1976. But that 12,850 in gold, safely stored away, its worth 135,000 as of the taping of this commercial. Now, thats more than 10 times the original amount. And thats why ive been putting my money in Precious Metals for years, and i dont see any reason to stop now. [announcer] if youve bought gold in the past, or would like to learn more about why physical gold should be an important part of your portfolio, pick up the phone and call to receive the complete guide to buying gold, which will provide you important, neverseenbefore facts and information you should know about making gold, silver, and platinum purchases. If you call right now, you can also receive a copy of our new u. S. Gold report for 2020. Inside, youll find the top 25 reasons why you need to start owning gold today. With nearly two decades in business, over a billion dollars in transactions, and more than a half a million clients worldwide, u. S. Money reserve is one of the most dependable gold distributors in america. Today is your birthday. Ashley happy birthday Stuart Varney. He is smiling, taking week off. Well earned rest. Today is your birthday. Look at graphics, weve blown the budget for the rest of the year. Happy birthday, stu. I bet he watches english premier soccer and that is how he will celebrate, what do you think . Susan i think he is celebrating right now. Lauren i had no idea that stuart shared a birthday with ringo starr. Did he mention that . Ashley Stuart Varney the ringo of Varney Company. He wanted to be paul i think. Quickly check out of markets. The dow has been down same amount of opening bell, off 175 points. Really story continues to be big tech and nasdaq. Nasdaq up again half a percent at 10485. My work is done. Thank you, susan. Thank you, lauren. Neil cavuto. Take it away. Ashley thats right. Ringo is 80 today. We already know youre 119. Ashley wow. Ashley im trying to do the math. Remember that . So, stuart, somewhere in between ashley in between. Ashley great job as always. Were following up what is going on the last three busy hours. Charlie brady says the dow is 12 plus percent away from aim