Endangerment of public health. Hes investigating. In boston, a packed party boat making headlines. Absolutely no social distancing. That party boat operation has been completely shut down. In new jersey, no pictures yet, but 700 people attended a liberian Independence Day party. It was staged at an airbnb rental. Plenty of alcohol and twerking. It took police five hours to break it up. Hundreds ticketed. There is, however, positive news on the virus. Pfizer is now in phase 3 testing for its vaccine. That is the final stage. Just like moderna. And the increase in virus cases in two key states, california and texas, is slowing down. You better take a look at this. Kodak. Remember them . They are getting 765 million from the government to make the ingredients for pharmaceutical products. They will replace china, which currently dominates the supply chain for the Building Blocks of drug products. Watch that stock go. The dow industrials, they are going to be on the down side this morning. Same with the s p and the nasdaq. The backdrop here is we are walking up to the earnings reports of the big tech names and digesting the opening bid in the stimulus debate. The republican plan starts at 1 trillion. Its very likely to go much higher than that. Politicians spend big when theres an election three months away. Watch that total spending go up. Question. Couple of them for you. Can we get a strong economic recovery if the kids dont go back to the classroom and workers dont get back to their offices in the cities . Its going to be tough but like baseball, the shochool and offi buildings shut down if the virus reappears. And do you have turmoil for tea . Been a crazy year, so much change. Are you ready for the turmoil and change a biden presidency would bring . You want another round . Varney company is about to begin. Stuart okay. Check the futures to start with. We are going to be down pretty much across the board. Im going to put two names on your screen. Mcdonalds and 3m. They account for most of the loss on the dow this morning. Both reported not real good reports, earnings. Mcdonalds, some recovery in the states but its still set to close 200 restaurants permanently. 3m even demand for masks couldnt save them from the sting of the virus. Sales slipped around 1 billion for the quarter. Well have more on that later. All right. No masks here. Goldman sachs chief executive David Solomon deejaying that party in the hamptons over the weekend. Susan, take me through the story. Susan yeah. He was one of the opening acts, Goldman Sachs ceo David Solomon, yes, at the deejay table at that Controversial Charity drivein concert that took place in the hamptons. Hes opening for the headline act the chainsmokers. Its well known solomon enjoys deejaying in his spare time. His weekend performance coming fresh off a strong earnings quarter for the Investment Bank that saw multibillion dollar fines to settle criminal charges in malaysia. As for the hamptons concert itself, its hugely popular with reports that parking spots are going for as much as 25,000. You are supposed to stay in the car, but not the case for these concert goers. The footage going viral from the event. It doesnt show a whole lot of social distancing or mask wearing amongst the attendees and that caught the attention of Governor Andrew Cuomo, who tweeted that he was appalled by the footage. New york States Health commissioner now opening an inquiry into the event. The organizers say the guests temperatures were checked, security guards regularly patrolled the area to encourage mask wearing and social distancing, and many criticize the concert in the hamptons on saturday as being representative of the disregard for rules for the welltodo and wealthy new yorkers. Stu . Stuart do you think it would have any impact on Goldman Sachs stock . I dont. But what do you think . Susan no, but i can imagine there might be compliance issues internally, especially amongst management and the board in terms of what David Solomon should do in the future and maybe to look at the events he actually participates in before agreeing to do it. Stuart thanks very much. Now, mike murphy is with us. Look, let me put the basic equation to you like this, mike. I dont think you can have a strong economic recovery, strong rebound, if the schools dont open and the Office Buildings in cities dont reopen. What do you say . Im with you. Good morning. I completely agree and if theres science out there that tells you its unsafe for children to go to school, i dont want to send my children to school. But i think right now, i can speak for new york city, schools will be reopening in late august and i think we absolutely have to have kids in school, we need parents to be working for the economy to recover. Absolutely, kids go back to school. Stuart the thing is, though, you cannot guarantee absolute safety either in the office or at school. Thats going to be a big impediment to getting them to reopen. Correct. You cant you dont get a lot of guarantees in life, stuart. Sending the kids to school, i think there is no Scientific Evidence out there that tells you its not safe for kids say 21 and younger, healthy children, to go to school. Theres nothing that i have seen that backs that up. I think quite the contrary, its completely safe for them to be in school. Not safe for them to be at home for another year trying to learn literally losing one year of their education because of fears of some politician. Although theres not a guarantee, you dont get a lot of guarantees in life. Im all for sending my kids back to school. Stuart okay. I hear you. I will come back to you in just a second. I want to Start Talking about the vaccines because we have pfizer starting late stage human trials for their vaccine. The stock is up this morning. Got any more on this, lauren . Lauren yeah. Pfizer and biontech have dosed the first patients in their late stage phase 3 trial. The government is paying the Companies Nearly 2 billion to produce 100 million free doses this year. Pfizer has been the most aggressive in their target for regulatory approval. They are hoping to get that in october. Take a look at the shares. They are up almost 3 right now. They are a dow stock. They did report earnings this morning. They raised their outlook for the year despite a 32 in profit and thats interesting, because there is so much hype around their covid vaccine. In fact, the stocks up 16 in july alone, that demand for their other drugs actually fell in the last quarter. Stuart that is fascinating. A vaccine is the golden ticket, is it not, if you can find it. Got it. Lauren yeah. Stuart take a look at the home builders. Breaking numbers for you now on home prices. Up 3. 7 in may. Thats compared to may of last year. Thats a decline in growth rate there, but youve got here we go. Thats what i wanted. The median price of a home is now 295,300 according to the National Association of realtors. Median price means half of them cost more than that, half of them cost less than that. Right in the middle. 295,300. Thats your price. Earnings from home builder d. R. Horton and the paint companies, sherwin williams. Look at the stock prices. Theyve got to be lockdown winners. Susan absolutely. Americas biggest home builder, horton, doing better than anticipated in the quarter. Record low Interest Rates and Mortgage Rates and the shift towards suburban living. Thats helping boost sales at d. R. New home sales hitting a 13year high last month while the jump in existing home sales hitting its highest ever in the month of june. Home recovery is alive and well. The need for home offices, schooling have fueled demand for spacious homes in smaller metro areas and less crowded suburban areas close to big cities. Horton, which has a high inventory of affordable entry level homes, now seeing Strong Demand from firsttime home buyers and also by the way, given the covid lockdowns, more people have time on their lands to work on their homes and Home Improvement and thats boosting sale at paint company sherwin williams. A sales jump of over 8 in the second quarter. Yes, these two are definite lockdown winners. Stuart thats another one i did not see coming. Sherwin williams. A paint company. Who could figure out that in a lockdown situation, a paint company would do so well. I missed it. Susan thats okay. A lot more to go to. Stuart you got it. I really want to get to this kodak story. They used to be a film company. Lauren, look at the stock, up 232 . They used to be a film company. What are they now . Lauren it is a new kodak moment. They just got a 765 million government contract under the defense production act to help make generic drugs, as the white house looks to speed up production of drug ingredients and reduce our reliance on foreign sources such as china. Kodak is going to use their massive manufacturing footprint to produce the Raw Materials that go into generic drugs, including hydro chloroquine. Thats why this stock, this is a lifeline for them. The stock is up 230 . They did file chapter 11 about eight years ago. So they are reinventing themselves with the help of the government. Stuart theyve got a massive manufacturing complex in upstate new york and they are going to use that to supply the ingredients for drugs. I think its a terrific idea. I had forgotten all about the company. Lauren and hiring 300 workers in rochester, by the way, to do that. Stuart thats a depressed area. That is very good news for upstate. All right. Thanks, lauren. Lets get back to big tech because four of the biggest of big tech names report earnings tomorrow. Apple, amazon, facebook and google. Mike murphy, strikes me, seems to me, that all the Big Tech Companies, they have got to report huge blowout numbers if those stocks are going to stay at these levels. What do you say . I say i expect all of them to have very strong quarters, even in spite of the covid pandemic but what we are going to be looking at is the guidance coming from these Big Tech Companies because as we talk about often, none of them are cheap, relatively speaking, so they have to be able to continue the growth that weve seen in order to support their stock prices here and their stock prices going higher from here. I expect not good quarters from these companies, i expect great quarters from them. As we talked about, we are going to need big tech to drive the market to more new highs and thats what i expect to see on thursday. Stuart got it. Thanks very much indeed, mike murphy. All right. Futures still pointing south, i believe, pretty much across the board. Yeah. The dow, s p, nasdaq, marginal losses all around there. Now, you would think that cancel culture mob would love a modeling agent who empowers women but no. Coming up, we have a guest who tells me shes being attacked after being seen on a boat with a trump flag on it. Can you believe that . Baseball, total mess. Major League Baseball commissioner Robert Manfred is defending the leagues testing protocols. Listen to this. The protocols were built in order to allow us to continue to play through those positives. Stuart as they struggle to prevent the Virus Outbreak, nfl training is still reopening their Training Camps today. Weve got that story for you. Mcdonalds reporting their earnings today. Who better to have on to analyze than ed rensi, former mcdonalds chief. He will analyze next. What do you look for when you trade . I want free access to research. 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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 maybe it could mean as mucsimon pagenaud takes the lead at the indy 500 coming to the green flag, racing at daytona. Theyre off. In the kentucky derby. Rory mcllroy is a two time champion at east lake. Touchdown only mahomes. The big events are back and xfinity is your home for the return of live sports. Stuart weve got a blockbuster on capitol hill today coming from the attorney general, bill barr. He will tell the House Judiciary Committee about quote, grave abuses in the russia, russia, russia investigation and he will give a fullthroated defense of the police. Its his first house judiciary appearance. Hes going to come out swinging. Maybe you will see a bit of it. We have already seen republican relief plan so lets bring in blake burman live from washington. Briefly, can you spell out the basics of the proposal . Reporter perhaps the biggest proposed change from Senate Republicans has to do with the federal unemployment benefits, that 600 per week ends in a few days. What republicans are pushing is 200 a week through september and then starting in october, should you still be unemployed at that point, a 70 cap on what you have been making. Also, in their plans, a renewal of the ppp Small Business loan program. Also allowing for a second loan for the hardest hit businesses that are still suffering. Then theres those direct payments, 1200 to individuals. Now, democrats want to keep it at that amount as well for dependents. Republicans are proposing 500 for dependents. 105 billion to safely reopen schools as part of the republican plan and then of course, as we have been hearing from Mitch Mcconnell for weeks, those business liability protections. However, even though republicans put that plan together, there is still no real consensus from republicans as to what exactly they might support going forward. Theres a divide or a fracture or at least they have to figure out what they want going forward, and keep in mind in all those bullet points, we put nothing up there about state and local government funding which you know, stuart, is something that democrats want. So this is just a marker going forward. The negotiations will continue up on the hill today between democrats and the white house. Stuart its going to get much higher than 1 trillion. The republican plan, what you just outlined, thats 1 trillion worth of spending. Have you any doubt whatsoever that it goes up from there . Reporter i have no doubt, stuart. Im not willing to say a number but certain numbers have been floated to me, i will tell you that, and im comfortable telling you on camera its higher than 1 trillion. Stuart there you go. The definitive response. Its going to be higher. Thanks very much, blake. See you again later. Lets turn to mcdonalds. They reported earlier today. Revenue down 30 last quarter. The stocks down as well. Mcdonalds says look, this pandemics going to accelerate store closures. They are now planning to close permanently 200 stores this year. Ed rensi is with us, former mcdonalds ceo. Whats your analysis . That looks like a pretty bad earnings report. Whats your analysis . I think its frankly pretty good. I think its a Strong Management Team at the company. The franchisees are outstanding. They make Big Investments in remodeling, they put double drivethroughs in, they spent a lot of money on digital, make the company more efficient. The restaurants more efficient. I was surprised to see that the june sales were just down marginally at 2 . I think the drivethrough business is really pounding it and by the way, for the franchisee, a lot of that business is a lot more profitable because the dining rooms arent open. I think the futures good. The 200 store closings, frankly, is not bothersome to me at all because historically, mcdonalds always closed between 150 to 200 because markets change constantly and theres changes in the dynamics and wi