Of the surge in new cases. Ill have more on that in a moment. We are getting new information on the twitter hack. It wasnt just a handful of celebrities. 130 accounts were targeted and it appears to have been an inside job. That is serious stuff. Im not sure that Twitter Twitter is up, thats right. Im thinking of another stock. Okay, twitter is up just a fraction. It is serious stuff about twitter. Weve got an analyst on the show who says it might have been a test run for something much bigger. Time to drop your twitter account . We will ask the question and get an answer. More on that coming up, too. Lets get to the market. This week we have seen a shift away from big tech and towards smaller companies. The russell index of small cap stocks, for example, up 3 this week. The dow industrials, down just over 2 . This morning, we will open with a nice gain for the dow, up maybe 100 points, 26,600. Look at the nasdaq. Theres a bounceback for you, up 100 points at the opening bell. All right. Now look at this. Heres where i was getting confused. Netflix, that stock is way down. They missed the analyst expectations. Oh, how dreadful. Netflix says subscriber growth in the future will slow down sharply. Thats what hurt them. Premarket, the stock is down 6 , 33 bucks a share down. Weve got a big show. Mob rule, it continues. Another riot in portland and in new york, the man accused of beating a Senior Police officer just walks away scotfree. Thats new york. Masks are now required in many nationwide chain stores. You will meet the Flight Attendant who wants to make them mandatory on all planes. Some states are mandating mask wearing, too. Plus the markets and election risk. What happens to your money if joe biden wins . Dont forget, it is friday. That means friday feedback. One of our viewers calls me a flibbertyjibbit. Somebody else wants to bring back the beatles. Varney company is about to begin. No administration in history has removed more red tape more quickly to rescue the economy and to protect the health of our people. When you think of it, we are all set up that as we get the vaccine or therapeutic and were set up militarily, were going to be delivering it in record time. Its all set to move. Stuart okay. You heard it. That is what the president is doing here in america to fasttrack a vaccine. Overseas, the European Union is negotiating an advance purchase of potential vaccines from moderna, sanofi, Johnson Johnson and biontech. Want to bring in an economist on this one. Brian wesbury is with us. Seems to me that a vaccine this year is really vital to the economy and therefore, to the market. We need good news on vaccines, brian. Yeah. We do, stuart. Even if we are flibbertyjibbits or whatever the viewer calls you. Look, the oxford group months and months ago promised a vaccine by september. The leader of that group, she said we had an 80 chance and they look like theyre on track. I think the key here is that this will make people feel better. But one of the things that we have consistently said, i have consistently said during this, is that we cant really, other than a vaccine, stop a virus. It doesnt matter how low you get the numbers. When you open back up, it will start to spread again. You can lock everybody in their houses and i guess slow it down, maybe even stop it, but if you lock everybody in their houses, we dont have an economy. And when we dont have an economy, that creates way more problems for the future. So this vaccine is kind of the key to get everyone feeling better about being normal in their activities so lets hope and pray that this comes. When i look at testing out there right now, we are doing seven times more testing today, every day, than we did back in march and april. No wonder were finding more cases. People should take heart in the fact fewer people are dying. Stuart i just want to get this in because we also had good news on the Real Estate Market early this morning. Housing starts, up, what is it, 17 in the latest month. Thats a very big number. Youve got Mortgage Rates at 2. 98 . I think thats an alltime low. Im suggesting that a real estate boom, Single Family homes, is extremely good news for the overall economy. Right . True. I totally agree. Not only that, but permits boomed as well. We are still not back to the highs that we saw in january and february, but we are about where we were a year ago, just a little bit lower. You know, the other news this week is that retail sales in the month of june were up 1. 1 from the june a year ago. To me, that is amazing. I want to kind of look at that just for a minute because a year ago we were a little bit below 4 unemployment. Now were over 10 unemployment. So you have to wonder how could retail sales be up year over year. Its because of government payments to individuals and while thats good, the governments helping people get through these shutdowns, i do worry that what weve done is we have borrowed consumption from the future. Were borrowing it from our children so that we can spend it today and that will be a longterm problem for our economy. [ speaking simultaneously ] stuart real estates doing okay, good news on the virus, the economy is looking pretty strong at this moment. Brian, got to leave you. Thanks for being with us this friday morning. Appreciate it. Now, i want you to look at this. This is not good. 77,000 new cases, virus cases, reported in america this thursday. Thats a new record. For a moment focus on texas. That is a hot spot. Almost 15,000 new cases there on thursday. Again, that is a record. Lets bring in roger williams, republican congressman from the state of texas. Congressman, Governor Abbott says no lockdown, no second lockdown overall for the state, but could you see a new lockdown in a city like houston, for example . Very hard pressed. I think we know that locking the economy down does not work. We tried that nationwide and of course in texas. The governor has done the right thing in passing a lot of Decision Making on to local officials so houston has got some issues where they want to shut their economy down or not, its going to be a decision they have to make but the governor realizes you cant do that. I as a businessman realize you cant do that. So well see what happens. But were seeing a trend down last couple days and hopefully that will continue. Stuart the issue really, congressman, is this weekend is going to be a test. Can you control youngsters, enforce mask wearing and social distance . In a state like texas which loves its individual freedom and liberty, can you do it . Well, were trying to do it. We know that the younger set does not see things like you and i might see, but at the same time i think its proven we have seen it when we were one of the first to open in texas, that if you do social distancing and you do wear a mask, it can work. So hopefully, the governors talking about it, im talking about it, other leaders are talking about it to the younger people to do what youre asked to do and well get through this a lot quicker than not if we do that. Stuart you do have a declining caseload in texas over the last two, three days, i think it is, the number of new cases has come down. Am i right in saying that, congressman . I think i am. You are. We have seen it go down. We hope its a trend that we see. We have been doing a lot of testing and eventually we are going to turn the corner on this and you know, you have to have a day you start turning the corner. Maybe today is that day. Stuart let us hope. Appreciate you being with us today. Thank you, sir. Come again soon. Let me turn to new york. New yorks Governor Andrew Cuomo cracking down on alcohol sales. Bars and restaurants not allowed to serve alcohol without food, ending walkup bar service. In the city, new york city, if you dont enforce social distancing, you get three strikes and then you are shut down. Okay. Thats the virus, new york city and elsewhere. Lets move on to twitter. Susan, the fbis investigating and there are reports its an inside job. Susan so far, investigators know at least one employees account and credentials were taken over and then used to gain access to twitters internal system which allowed the hackers access to numerous famous accounts and this is according to reporting by the New York Times. We dont know if the employee was tricked into giving up the passwords or they were possibly bribed. Twitter did confirm that social engineering was used. Another way of saying that an employee was compromised. The tech blog mother board had also printed out pictures that allegedly showed hackers access to twitters internal mainframe. The fbi is also investigating this hack saying that at this time, the accounts appear to have been compromised in order to perpetuate cryptocurrency fraud. Twitters latest update says based on what we know right now, we believe approximately 130 accounts were targeted by the attackers in some way as part of the incident. For a small subset of these accounts, the attackers were able to gain control of the accounts, then send tweets from those accounts. This has now raised concerns about the security of social media platforms, especially we are more than 100 days away from the november election. Stuart who knows if this was a test run for something bigger still to come, maybe during the election. Thanks very much indeed. Its friday morning. We are closing out the week. Heres what the markets going to do. We are going up. Pay attention to the nasdaq. Look at that, up well over 1 . Big deal. The man accused of punching new york citys police chief and two other officers, this happened on the brooklyn bridge, that man has been released without bail. Next, listen to what mayor deblasio is saying about the city despite the increase in crime. Roll tape. We now have fewer people in our jails than any time since world war ii. We are safer for it and better for it. Stuart extraordinary. Let the criminals out and were all safer . Im going to go at that in my take, next hour. Treasury secretary mnuchin and larry kudlow said to be at odds over the next stimulus package. We will explain what some are calling an epic clash inside the white house. The president of the Flight Attendants union says it is absurd that masks are not mandated on planes. She joins me next. 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It drags the entire business down with inefficiency, errors and waste. Its ridiculous. So ridiculous. With paycom, employees enter and manage their own data in a single, easy to use software. Visit paycom. Com, and schedule your demo today. Stuart disney is indeed serious about safety. Virus safety. If you are not wearing a mask, they wont take photos of you while you are on a ride. More seriously, there are some who think that disney the virus policies are strict wait a minute. Not strict enough, i guess. Disney, lets get to this, disney heiress and liberal critic Abigail Disney is slamming them for reopening at all. She doesnt believe disney can protect customers and employees. Okay. Shes a longterm liberal critic of disney and of rich people in general. Shes rich herself. She wants us all rich people to pay a whole lot more. There you go. Airlines. Our next guest says it is quote, absurd that masks are not mandated on flights. Sarah nelson is president of the association of Flight Attendants. Welcome to the program. Great to see you. Thank you. Stuart youre saying look, the faa should require passengers to wear a mask or face penalties. Wear a mask all the time on every flight, is that what you want . That is exactly right. Aviation safety is all about we are all in this together and just like no smoking on the plane or youve got to wear your seat belt, these are federal regulations that keep all of us safe and Scientists Say that the masks are the best way to keep all of us safe when we cant properly socially distance. Stuart lets suppose the mandate goes into effect, lets just suppose for a second, youve got to wear a mask, youre on a plane and you are the Flight Attendant on the plane and a couple of people wont wear the mask. They take the mask off. What do you do . Well, we are trained to deescalate and we do that quite well, and frankly, most people come to the flight wanting a safe, uneventful flight and comply with the instructions and really look to us for that kind of leadership. We would try to get them to wear the mask and usually people around them apply a little peer pressure, too, and usually that works. If they dont, then theres consequences. Stuart okay. Now, would you be prepared to call other Flight Attendants and say were not going to work if we dont get mandatory mask wearing. Would you say that . We need this mandatory mask wearing. Let me just be very clear. On september 12th, 2001, the government had already put new regulations in place to keep us safe and to increase our security. We are well into this and not only is our health at risk here, but if people dont have confidence in flying right now, our jobs are at risk. The airlines have only come back to 20 of what they were a year ago and as the cases are rising, the bookings are falling again. So this is about everyones safety but its also about youre putting my job in jeopardy by not complying here. Stuart okay. What do you think your chances are of getting mandatory mask wearing on all planes . Well, the truth is that all of the airlines have these policies already. This is the easiest thing for the federal government to do. And there is growing desire in congress to mandate this if the faa does not step up and make this a federal rule. Stuart okay. It would be tough to keep a mask on for a continental flight, six hours, new york to los angeles. Kind of tough, isnt it . So this has to come with clear instructions about what to do. Theres mask etiquette, too. Of course people are going to take a drink and have something to eat. But there needs to be clearer instructions across the board about how to do that, when to do that. You want to wait for a few rows before the Flight Attendants hand ou tt the snacks because t last thing you want to do is put the crew at greater risk of contracting coronavirus because we are the ones who are going to come in contact with the most people. Stuart entirely understood. I do sympathize with your position. You are right on the front line getting real close to people. We understand that. Sara nelson, thank you very much for being with us this morning. We appreciate it. Thank you. Thank you. Stuart sure thing. Look at united airlines. The stock is up just a tiny fraction. Weve got news on a deal with the pilots union to limit furloughs. Ashley, before we go into the details here, what does it tell us about the future of Airline Travel . Ashley yeah. Its interesting, isnt it, because look, demand had stalled out as one ceo of a carrier said. They were seeing some improvement. Now its kind of dwindled again. There are reports out there, we will get into it later in the show, that it could be three years before anywhere close to previrus conditions. So that said, united is trying to get ahead of this, saying to pilots okay, ill well give you some options. How about you retire early. 62 years of age and older, you can put in for retirement, get your package, leave the industry. Also giving pilots the option to reduce their hours as opposed to being furloughed. Also, they say they can take a leave of absence during which time they are still eligible for benefits including health care benefits. All of this designed to try and save their jobs but its not easy. That government grant runs out at the end of september. Thats when the furloughs, thousands, up to 36,000, says united, are going to be going out. Stuart thats important here, because what you are doing is outlining the future of demand for Airline Travel in the United States and its not going to get back to normal for a very long time. Good story. Thank you. Lets go to the cruise lines. Heres a problem. The cdc, lauren, tell me exactly here, the cdc is extending their ban on cruises . Lauren they sure have. So the nosail order goes through october 1st. That means you cannot take a cruise through september. The reason is obviously covid. They say this specifically. On cruise ships, passengers and crew share spaces that are more crowded than most urban setti s settings. They noted the virus outbreaks on 80 of the ships between march 1st and last week, that is a lot of viruses, and this nosail extension does not come as a surprise to the cruise lines. Many had already canceled trips through september. You can see they are down today but for a lot of people who love cruises, they were hoping to escape the pandemic. You cant do that. You have to wait until at least october 1st. The chances of it being extended again likely, right . Stuart well, yeah, youre right. Its another story about the delay in getting back to anything like normal. It has been delayed. It will take a long time. Lauren, thank you. The vaccine will make a difference, thats for sure. A big difference. Bring it on fast, if we can. Look at the board. We are up 125 points on the nasdaq composite. That is a big deal. Thats a significant rally. Maybe the big techs are bouncing back. We will check it out. Well be right back. Tara, did you know geico is now offering an extra 15 credit on car and motorcycle policies . Wow. Ok thats 15 on top of what geico could already save you. So what are you waiting for . Idina menzel to sing your own theme song