Promising results from both of them. Later, we are expecting news from astrazeneca, thats a british company. They are going to announce the results of their phase 1 trials of a covid vaccine. Now, positive news on a vaccine usually moves the market. It certainly did last week, and i think its helping futures this morning, too. There is news on a new stimulus plan. The president says he would not approve any plan that did not include a payroll tax cut. All right. Now look at the market. It has turned around. Earlier today we were way on the down side. But now we have moved to the upside i think its on the strength of this vaccine news. The dow held to the 26, 600 level last week. 8,000 points above where it was when President Trump won election. By the way, a new the Washington Post abc news poll showed joe biden with a 15point lead, 5540. This is 106 days before the november vote. We will be talking a lot about election risk on todays program. Then theres this. For the 54th straight day, rioting overnight in portland, oregon. The mayor blames federal agents just for being there. He says its the feds who provoke the crowd by their mere presence. There were clashes again in seattle and shootings in chicago. This is monday morning. Varney company is about to begin. Stuart this is going to be a big week on the earnings calendar. Ibm today and then were looking at some of the greatest american companies. Microsoft, they report on wednesday. So does tesla. Thats wednesday as well. Thursday, we get a few of the airlines, southwest, american and also twitter. Thats this week on the earnings calendar. Keith fitzgerald with us now. Youve got some concerns about the market. We have not heard you be really cautious for a long time now. Is this election related, by any chance . Actually, its more vaccine related and election related. Its not a trifecta. I think the joe biden effect is a lot more real than the president of the United States would care to admit right now, than the pollsters certainly seem to want to clarify that, causes me concern because the computer that caused the last selloff have already been reprogrammed and will act faster if the selling starts. Stuart why are you concerned about a vaccine . Weve got positive news on a vaccine. Whats the problem . The problem is, again, coming into this mornings show, i didnt know we were going to have that positive news. I think the science is going to beat this. I play optimistically, i play for the future and for hope, but my job in this capacity is to prepare for the worst even as i hope to find the best. If we get a vaccine that fails, thats a strike against us. If we get a vaccine that doesnt work properly, thats an effect. If we get a vaccine that mutates or does something its not supposed to, thats a negative effect. Stuart are you telling me this monday morning you wouldnt tell your clients to put fresh money into the market right now . No. Actually the opposite. I would say continue to play offense, continue to be in the wind or you are not going to win but now, for the First Time Since march, i am extremely concerned about the prospect of a shortterm pullback. Stuart okay. Got it. We will keep in touch with that. Stay there, keith. More for you later. Lets get on with the rise in virus cases that is a factor in the market. First of all, look at ohio. 1100 new cases, 42 new deaths, more than 1,000 current hospitalizations. Heres what the Governor Mike Dewine had to say about it. Roll tape. I gave a speech wednesday night which was basically said to the people of ohio look, we are at a crucial stage. We are at the point where we could become florida, you know, you look at our numbers today versus where florida was a month ago, we are very similar numbers. Were very very concerned. Stuart theres a clearcut warning for you. Come in, ashley. Tell us about the other states and how they were hit over the weekend. Ashley well, we are talking about florida, texas and california, ybut i want to give you an overall picture for the u. S. Because there are multiple states, not just those hot spots, that are now seeing a rise. Lets look at the total new number of new cases. 61,847. Current hospitalizations at 57,247. And the number of deaths coming in at 415. Again, florida, texas and california continue to be hot spots, but we are seeing a rise now in the number of cases being reported along with, it must be pointed out, much more increased testing in more states than just those hot spots right now. Stuart i guess to counter that, weve got positive news on a vaccine from various companies. Ashley exactly. Stuart i guess its balancing out. Lots of new cases but good news on the vaccine. It balances out eventually, doesnt it. Get back to you in a second. We have President Trump telling fox news Chris Wallace he wants, no uncertain terms, he wants a payroll tax cut. Roll tape. What about the payroll tax cut . I want to see it. I want to see it. Is it in the bill . Ill have to see but yeah, i would consider not signing it if we dont have a payroll tax cut. Yes. Stuart today, Senate Majority leader mitch mcconnell, House Minority leader kevin mccarthy, they go to the white house to discuss the next virus bill with President Trump. Market watcher keith fitz, come back with us, please. Is a new stimulus package absolutely vital to the market . In my opinion, yes, it is. Because there are tens of millions of americans who are still hurting, whose businesses have been devastated by this, who are not yet back at work. If you give businesses an incentive to bring those people back, you give Small Business owners an incentive to open, thats one of the single most powerful economic tools we have at our disposal. I do think as much as i dont want to spend money, i do think we have to. Stuart if it was a stalemate and no stimulus bill, does the market go down . Yes. I think it does. Stuart and if there is a stimulus bill, and it does contain a payroll tax cut, is it off to the races . Thats my bet. Thats certainly the way im lining my money up. I think that it is going to be good for the markets. I think people will react favorably to that, particularly again, if they can reinject hope. This is like looking into a well right now and not knowing how deep it is, stuart. Weve got to get clarity on where the bottom is. Were looking down a tunnel. We have to see a light. Right now we cant do either. Stuart hold on again for a second, keith. I want to update the viewers on portland, oregon, the situation there. Oregon is suing the trump administration, that state wants federal agents out of portland. Camouflaged Homeland Security agents have been protecting, protecting federal buildings from rioters but the rioting continues. President trump and portland mayor ted wheeler are clearly at odds over this. Just watch this. If you look at whats gone on in portland, those aanarchists. We took a very tough stand. If we didnt take that stand, they were going to lose portland. The president has a complete misunderstanding of cause and effect. Whats happening here is we have dozens if not hundreds of federal troops descending upon our city. Their presence here is actually leading to more violence and more vandalism. Stuart clearly the president and ted wheeler are at odds. Thats the state of play in forland, oregon. Let me move to seattle. Rioters damaged and looted stores again on sunday, they set fire to a Police Precinct sunday. Keith fitz, you live in the seattle area. Just act as a reporter for us for a second. Whats the scene there . Well, the scene is one of chaos. You have a lot of seattle residents, the people i know, love and trust doing their thing peacefully and you seem to have a very tightly controlled, well organized group that is showing up as if on cue with baseball bats and hardcore rioting material. They seem to be invoking the crowd psychology and turning it against itself. Its very very disturbing. It reminds me of new york in the 70s before mayor koch took over and took such a heavy hand. Stuart strong thing to say. Thanks for being there today. Thanks for acting as a reporter on the situation in seattle. It is indeed chaos. Thanks, keith. Look at disney. Look at facebook. Those two companies are very much in the news this morning. Susan, bring me up to speed here on disney cutting ads on facebook. Susan disney was a top u. S. Advertiser on facebook last year, setting more than 200 million according to an ad tracking firm. A big name joining the nearly 1,000 companies saying they are pausing ads on facebook over the proliferation of hate speech and misinformation. Not clear how long disney was planning for its pullback. It didnt make a public announcement on it. The journal says disney is also pausing its millions of dollars in ads for its streaming site hulu off face bookedowned instagram. Cable channels like freeform and also espn along with abc, hard to come by in terms of ads on facebook these days. Facebook makes around 70 billion in annual advertising revenue from over eight million advertisers but it would really take a sustained boycott from its biggest advertisers to really put a significant dent in a companys financials, right . Stuart well, do you think its possible that some of these companies are pulling back on advertising because thats what they want to do . Its nothing to do with Facebook Susan might be. Why not get the collective i guess pat on the back if you are doing it also on civil rights grounds as well. Stuart you get the point on p. R. For doing that with facebook. You are helping yourself, saving money in a bad time. Maybe so. Susan, thank you very much indeed. Look at nikola. That stock went tumbling. The s. E. C. It says nikola is going to offer 24 million common shares. That means the dilution of existing shares. The stock this morning is down 20 . Its an electric car, electric truck company. They are all the way back to 39 bucks a share. Then theres draftkings. They are up just slightly this morning. Baseball begins to make its comeback, that means Sports Betting is set to return. Not sure what fashion baseball makes a comeback but the stock is up just a little on that news. How about futures overall . A little bit of green on the screen this monday morning. Up for the dow, s p and nasdaq. In particular the nasdaq. Up half a percentage point. Big show coming your way this monday. Starting with former white house chief of staff Mick Mulvaney. I want to know if he thinks we really do need, is it a must have, another round of stimulus. Stephen moore economist with us, says no stimulus deal is better than the one currently on the table. Look who that is. Look at that, far right of the screen. Doug schoen. He says the race between trump and biden is closer than the polls suggest. A couple in kentucky have been forcibly fitted with ankle bracelets and placed under house arrest after a runin with the Health Department over the virus, and quarantine. Is that constitutional . We will hear from the judge next hour. President trump will not issue a nationwide mask mandate. He says thats up to the governors to decide. Should they do it . Should there be a mask mandate . We will ask dr. Siegel after this. Instead of trying to decide should i invest in stocks or not . Meaning, are stocks going to rise or not . , lets instead stop looking at the investments, which we cant control, and lets now look at our goals, which we can control. In other words, we only want to take as much risk as is necessary to achieve our goals. We need to protect the money thats there. And that says you should be investing in. Theres an art to listening. Its the ability to hear more than whats being said. To understand the meaning in every pause. And to be able to offer the answers that make someone feel truly heard. I understand, lets get started. Thats what you get when you talk to a Dell Technologies advisor. Maria had to do everything for me. [maria] she had these awful blisters on her back. I dont want shingles when im your age. [camera man] actually, if youre 50 or older, youre at increased risk. [maria] thats life, nothing you can do. [camera man] uh, shingles can be prevented. [maria theresa] shingles can be whaaaat . [camera man] prevented. You can get vaccinated. [maria] where . [camera man] at your pharmacy, at your doctors. [maria] hold on [maria] dont want to go through that [theresa] hija. [camera man] talk to your doctor or pharmacist about getting vaccinated. Stuart pfizer and biontech, i think ive got the pronunciation right, they are work onniing on vaccine. They Just Announced positive results from their most recent studies. Dr. Marc siegel is here. We are getting an avalanche of good vaccine news. I have to regard that as a positive. How close are we to getting something out there and in the works . Well, stuart, we are still waiting for the 30,000 people per vaccine to be tested around the world. Thats stage 3 trials. But what youre just hinting at is pfizer and biontech vaccine is just announcing that not only is the vaccine causing the antibodies that we want, neutralizing antibodies, but its also causing tcells which are the most important immune cells against viruses, that its causing a tcell response against the virus. Thats a double immune response. Thats extremely important and if that is found in Clinical Trials as we go forward, that is going to mean a robust immune response likely will help us with a vaccine. The same, by the way, is coming out of the oxford vaccine today. Astrazeneca is going to report the same thing in lancet i predict. The editor in chief tweeted out exciting news coming on vaccines today. It looks like the headline here is both vaccines are making immune responses. Stuart the editor of the lancet said extremely encouraging news on the vaccine is coming today . He said that or she said that, not sure who it is . Richard horton treated it last night. Absolutely. Vaccines today, he said. This is exciting stuff. Its a double immunity. Stuart okay. Thats the important point right there. All right. Thank you, doctor. One more thing for you. I want you to listen to what President Trump told Chris Wallace about a nationwide mask mandate. Watch this. Will you consider a National Mandate that people need to wear masks . No. I want people to have a certain freedom and i dont believe in that. With that being said, im a believer in masks. I think masks are good. But i leave it up to the governors. Stuart doctor, should we have a National Mask mandate, in your opinion . No, stuart. Im in agreement with the president on this. I think they have to be targeted to hot spots, areas where we are seeing a surge in cases. In texas, we have a mask mandate in texas. I think there should be one in florida as well. There isnt. I would say to Governor Desantis you had over 12,000 cases yesterday, get a mandate in there for masks in public places, in areas where people are congregating. Its an additional help. Its not the answer, its not the total answer, but it decreases the risk of viral spread based on recent studies. The hot spots need them, stuart. Im in agreement. Lets get the governors on it. Abbott is on it. Lets get desantis on it. Stuart just for a second, forget about a vaccine and answer this question. If we all kept social distance and we all wore masks, would we stamp this virus out fairly quickly . We would decrease it dramatically if we did that. If we hadnt had all this congregating in bars, in restaurants, in protests, at beaches, all of that was ridiculous and definitely helped to spread this. If we kept our distance from each other and added a mask and were very careful and washed our hands and disinfected, we would definitely get this to dramatically decrease, no question about it. Stuart dr. Marc siegel on monday morning, thanks for joining us, sir. See you again soon, promise. Take a look at the stock price of delta, the airline, of course. They are starting a new screening process for travelers who cannot wear a mask. Lauren, how does this work . Lauren so stuart, delta is asking customers who cant wear a face mask for medical reasons to have about an hourlong phone virtual consultation with a Health Company called stat md. If stat md gives them clearance, they can fly without a mask. If not, delta revokes their flying privileges so they cannot ever fly delta until this situation is resolved. Its a new screening process. Its in effect today until the end of the year. The whole idea is people must feel safe flying and delta wants everybody to wear a mask. Stuart i noticed, by the way, that the tsa has just reported a 4. 5 decline week over week in security screenings. Thats the first decline since i think it was the middle of march, which means our return to flying, our return to travel, is slowing down. Thats not good news. Lauren right. But also, people are nervous about the selfquarantines that go into effect when they return. They follow you, this is where you were, this is where youre going and some people just dont want to deal with that. Stuart thats really quite a story, isnt it. Got it. Thanks, lauren. Let me move to ashley. There is a Big Energy Merger today. Tell me about it, please. Ashley yep. 5 billion deal. Chevron buying noble energy. Its an allstock deal. It would value noble at 10. 38 a share. That would be a 7 premium over its close last friday. Also, though, it would take on nobles debtload which is considerable which would make this deal about 13 billion. But shows some linsigns of life the energy sector. Noble operates in the United States, also has operations in the Eastern Mediterranean and west africa. By the way, its an independent oil and natural gas producer. But 20 of those same types of companies have tiled ffiled for bankruptcy this year as the price of oil has really struggled to gain any traction. Still, as you can see, price of oil right around 40 a barrel. For many of these independent oil producers, its just not enough. Stuart got that right. So merge, stay in business somehow or other. Thanks, ash. Futures show a very modest gain, pretty much across the board. The nasdaq, though, a nice gain there, probably up about 40 points, nearly half a percent. Well be right back. Businesses are