Is the overall market. This is really helping. The dow industrial will open with a 500point gain. We were up 500 yesterday, youre up about 1100 points in 24 hours. The s p to the upside big time and the nasdaq up 76, it is a rally. Travel related going straight up as well, if there is a vaccine that works, people can take it and be safe on planes and cruise lines, we could get out and about more on a mass scale safely. Backtoschool might get help as well from the vaccine news. Hold on we are not done with big winners. Apple one a 14 billiondollar tax fight with europeans. They won, that stock is back almost, its at 394, 395 a share. Straight up this morning. Goldman sachs a big jump in profit, watch the stock grow. If the dow stock helping overall market. Your money is often running, we will have a grand old time following it for you. That is not all on the show, trump guy one in alabama beating Jeff Sessions while a wide margin. He will be on the show. Joe biden reveals his economic plan and is tax and spend on steroids. We will cover it. The housing boom in full swing with mortgage refi on a tear. We have the numbers. And the president punishes china for the stifling of freedom in hong kong, new cold war. The dow is going to open around the 27000 mark in Varney Company is about to begin. Stuart there are several major stories with great importance today, most important of all Moderna Vaccine. I gotta rethink this, generates neutralizing antibodies in all 45 trial patients. Fox news medical contributor marc siegel is here. Why is this so promising . First of all it comes from a good place, its studying in the university of washington published in the new england journal of medicine yesterday, 45 patients make neutralizing antibodies. Ill tell you why that is so important, that the antibody that goes right to the spike protein on the surface of the virus we are talking about, targets for destruction and gets rid of the virus. That is why it is important. Thats the antibody we need it was founded all 45 volunteers in all 45 tolerated which is a good sign. He moves on and of july 23, 0000 volunteers around the country, thats where the rubber meets the road. We see that working and we will see a vaccine by the end of the year. Extremely promising. Stuart promising news on astrazeneca vaccine, that could be announced today. Do you know anything about this . Stuart there you have it, Live Television for you. Sometimes the screen freezes. Good doctor is in full swing. Astrazeneca is up and moderna is up, there is hope for a vaccine on the horizon. Lets get to the market because this you will like, the dow will be up 500point, here is market watcher, two big positives, Moderna Vaccine and Strong Bank Earnings. It looks like were off to the races again. We are off to the races, happy belated birthday. It is great to see you again. We are off to the market off to the races, the futures are pointing to a much higher open but is not that the u. S. Globally, all markets except for Mainland China have reacted very positively to the news already, we see that globally and thats when we see a nice tailwind for u. S. Markets. I want to point out something in particular, i think as the market opens up depending on the futures and how we open based on where we are, the s p 500 will open near april 8 june 8 hi. The market has been waiting for that, thats the resistance level. That is a clear signal for investors to come off the sidelines and add more money to the market. I think we have another higher based on the momentum we are seeing now in the news today and depending on how we close. Stuart is there anything you would sell into the rally . No, absolutely not. Despite the fact that we have come the s p is up 43 in the dow is up 41 , there is still room to buy lots of stock, we will see the travel stocks bounce at the open, there is still room for them to go higher even after they bounce. Stuart thats on the strength of the vaccine hope, if we have a vaccine fairly soon you can travel and get out and about. That is why travel and leisure stocks will bounce at the opening. That is absolutely correct, there were long way to go, they are not recovered anywhere near where the other companies have recovered and that is the tech stocks making new highs. A lot of investors will go and look for the beaten up sectors, theres plenty of stock that have been beaten up and a lot of upside for them. Stuart we will be watching. Thank you. Lets move on, im going to check the homebuilders, Weekly Mortgage application numbers are out this morning, they are really strong. Tell me. Lauren Housing Market is on fire and rose 5 last week as they hit new lows, look at refinancing activity arose 12 on the week in 107 on the year. That according to the Mortgage Bankers association and fannie mae is estimating 60 of all outstanding loan balances have a half a percentage point incentive to refinance. Those looking for a new home, the only problem right now is supply, builders cannot keep up with demand. Stuart it is all go this morning. We kind of like that. Green all over the place. Lets get to the dominant news. President trump signs the hong kong sanctions bill. Watch this. We all watched what happened, not a good situation. Their freedom has been taken away, their rights have been taken away and with it hong kong will be treated the same as Mainland China, no special privileges and no special economic treatment and no export of sensitive technologies. Stuart china, gordon chang joins us now. This looks like a fullblown and new cold war. By the way, who wins . The United States wins. There has been a cold war that has been going on for a very long time, what has changed now is the United States has recognized the fundamental nature of chinas challenge, we are now competing where we were before. Stuart why did you say the United States will win . Were the larger economy, more flexible and adaptable, china right now is contracting despite the good june that they had and you have political problems inside of beijing and you have demographic issues, chinas demography is on an accelerated collapse, maybe 1. 4 billion and by the end of the century will be under 1 billion the u. S. Will continue to grow and thats a big change. Stuart i know you feel personally about this and so do i, hong kong is the great loser in all of this. Is certainly is because theres no reason to be in hong kong, you might as well go to sean hi. China has started to impose the full 45 tax rate if employees of state honed enterprises are a resident in hong kong. These guys are going to leave in china will not come to the rescue hong kong and hong kong will erode it mayweather. Stuart that is a sad story. Thank you for in joining us on a very important day. We always appreciate it. Big news coming your way, facebook taking on google youtube. Theyre introducing license videos on their platform in a happens next month. All this according to techcrunch. Facebook is up this morning. Goldman sachs had blowout numbers, revenue hit 13 billion, 2. 4 billion profits, dow stock in a whopping 5. 8 from a big name like that, thats a big move indeed. United health, the pandemic whole team doctor visits. They benefited from fewer payouts when treatments were canceled. Nonetheless United Health is down 1. 7 . Lets get back to the green. The dow futures suggest a 4 500. Gain at the opening bell. That is a rally this wednesday morning. Joe biden unveiling his 2 trilliondollar green new de deal, it sure looks like hes trying to win over the radical greens like aoc. Where will tesla build its next factory. Its moving close to a done deal, why texas is in the lead. Speaking of texas, one of the countries virus hotspots reporting 11000 new cases overnight. Will the state go into full lockdown . Ill ask texas congressman dan crenshaw when he joins us next. Its pretty inspiring the way families redefined the word school this year. Its why, at xfinity, were committed to helping kids keep learning through the summer. And help College Students studying at home stay connected through our university program. Were providing affordable Internet Access to low income families through our internet essentials program. And this summer, xfinity is creating a Virtual Summer camp for kids at home all on xfinity x1. Were committed to helping all families stay connected. Learn more at xfinity. Com education. Stuart this is crossing right now, the latest numbers on industrial production, actually have you had time to go through them . Ashley i had about ten seconds. It was for the month of june and it came in at 5. 4 , the expectation or the estimate im just having fun with these two, 4. 3 . A much better number than expected. The fed Manufacturing Survey was the strongest sense d december 2018 and the first time its been positive since february. Two pieces information of the economy pointing in the right direction. Stuart very positive for both. That was pretty good in ten seconds flat. Show me big tech please, you always have to look at big tech, the only loser this morning amongst the group is amazon which is down five bucks. Lets take a quick look at apple, that is on the upside at the tune of six bucks. Susan, what about a big tax when in europe. Susan of 15 billion tax fight with the eu second highest in favor of apple. It overturns that you tax order staying there was not enough evidence to prove irelands tax break for the year 2003 2014 and the illegal subsidy in the commission enabled apple to only pay in effective tax rate of 1 on the european profits in 2003 and 0 going back to 2014. Apple in a statement after this verdict says the case was not about how much tax that we pay but where we are required to pay at. We are proud to be the largest taxpayer in the world. This really has implications by the way on the use intended digital tax, that Large Technology companies of 2 6 on the european sales. The apple case was the centerpiece on taxation and the Second Highest Court in europe goes against eu orders and how they define what their taxes are and put the foundations of the digital tax on shaky grounds. This is a win for everybody including apple, thats what youre looking at the stock rally today. Stuart i dont think the europeans think they want, i think they lost hands down. Lets get back to the virus please, florida, california, texas. They account for one fifth of the whole world knew virus cases. In texas tuesday, almost 11000 new cases and there are now a total of 10000 hospitalizations. Texas congressman dan crenshaw joins us now. In view of these numbers, do you see a second lockdown coming in texas, like what we see in california . I hope not, lets look at the cases, you have to understand those three states account for the most testing in the world, case numbers are an indicator that we should Pay Attention to but we have to Pay Attention to all the data, not just the scariest data. We should also look at hospitalization and focus on hospitalization and death rate. As far as hospitalization in houston, one of the hardest hit places in texas are growth rate hospitalization has almost flattened. That is a few days of good trends and it could change and we have to be cautious and continue to wear masks, socially distant and not gather in large dgroups. The death rate in texas continues to be one of the best in the world. It is ten times higher in new york and out fatality rate, we are the best in the world, the hospital still have a vast amount of capacity and can surge upwards of thousands of bets, this is an important point because democrat politicians have misled the public making them believe hospitals are overrun when they are not, is problematic in deadly because people are too afraid to go to the hospital to get care for whatever illness. Its really important for people to know, if they need care they need to go to the hospital. Stuart a lot of talk about texas could go democrat in the election in november but former truck position roy jackson won his gop primary in your state. That look like a referendum on President Trump, your reaction please . I did not follow closely enough to know if its a referendum on President Trump, the president gets involved in a lot of primaries and sometimes it goes away and sometimes it does not. I happen to like iranian a lot i think it will be great. Stuart is any ill feeling against the governor of texas, because some people might say he opened up too early. Great question. Simple deductive reasoning debunks the smith that reopening is what causes spikes. We reopened in early may, l. A. County having the biggest bikes in the country never really opened, what happens late may we had massive protests, tens of people in the street and holidays, big gatherings that people did as a layering effect and of course theres going to be spikes. Luckily weve got a lot better treating it in hospitals has been ver preparing and were in a much better place than back in march where new york city was getting overwhelmed and did not how to treat the disease. Lets not forget because of their policies from Senior Citizens back in Nursing Homes lost 33000 people. Giving people their freedom to engage in risk and confronted the way they see fit is not the culprit. Do we have to have a balance, have to be honest about our conversation. When youre sitting down in economy with a huge cost in terms of extra suicide, domestic violence, Health Consequences not being able to go to the hospital get elective surgeries, the school shutting down that seems to be swept under the table when we have the conversation. We need to have smarter conversations about the cost of lockdown. Stuart im glad youre holding that with us this morning. Thank you for joining us, we will see you again soon. I dont want to omit a growth area. The growth area is gun sales. I think you have some numbers for me, they are spiking. They are definitely spiking, lets talk about overall, april to june, the total number of fbi background checks does not mean the sale will go through, gives you a sense 5. 4 million this year between april and june, if you look at the scene. Lashed 2. 8 million. Double the amount of background checks this year in june alone, gun sales were up 130 yearoveryear in georgia those numbers tripled and doubling in new york, illinois, oklahoma and minnesota. 40 of the gun buyers were brandnew, new gun owners, handguns selling twice as fast and many retailers saying the reason being, it was driven by a fear for personal safety. Quite dramatic, those numbers high indeed in charge of the pandemic and then the george floyd protest gun sales going through the roof. Stuart thank you very much indeed. When a rally mode on wall street, positive news on a vaccine, very Strong Bank Earnings amount to a rally and a half on wall street. We will be back to cover it for you. 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