Transcripts For FBC Varney Company 20240712

Not a word of antifa and he took no questions at all. The president leaves the white house at 10 00 oclock hour, he may take questions. Companies giving us financial drama. Look at this, zoom, lockdown winners, huge increase in profit and the stock up to the races. 120 bucks. Walmart, two developments there. Deal for tic tac may tiktok fairly soon and delivery soon with amazon. Watch the stock go 2 and a half per can he be the. The dow looks like its going to be down today, the s p slight move at the opening bell and the nasdaq, although tech stocks doing very well again, the nasdaq up 70 points premarket. Big day, Varney Company is about to begin. The best stock market dow in 36 years and its very interesting, so people are very happy with their 401ks and stocks that they have and thats a tremendous achievement best in 36 years. Stuart yeah, a lot of bad performance. The president talking about the economic recovery, nasdaq closed at another record high. More on all of this a little bit later. I want to check walmart, big news there. Susan, good morning to you. Susan good morning. Stuart they have a Subscription Service launching soon . Susan think of walmart plus, 98 a year, fairly than amazon 119 a year. Walmart parking, checkout mobile phones and here is the catch, only the items that are sold in store. So walmart plus does not include free delivery from online store, walmart. Com which sells millions of items. Now there you can get free delivery on any order over 35. Walmart is trying to play catchup to amazon prime and amazon competition is another reason that walmart has joined microsoft bid to buy tiktok and helping to sell goods advertised to tiktok users. Speaking of amazon, getting faa approval for drone delivery. No word on when this will start. The project for 7 years in works, amazon, ups and google parent alphabet have gone approval for drone delivery. It depends on the individual states. You dont have to drive 3 hours to manhattan anymore. Stuart what strikes me is the developments in delivery. Susan yeah. Stuart walmart is in the game competing and amazon is coming up with drones which are viable. Susan absolutely. Stuart thats a delivery story. Susan the future is drone delivery, subscription models, advertising and social media. Stuart walmart is in the game big time. Book at this. Zoom, unbelievable performance this administration. Kristina partsinevelos, good morning to you, kristina. Zoom is lockdown winner. Tell us how big impact it has. They made more money than last year. Thats because the earnings came out and it blew well past expectations for fiscal year 2020. They make 622 million versus last year at this time where they made about 330 million. The stock, if youre looking at longterm trend, maybe those some viewers got really lucky, 60. 96, climbed over 360 on broader market, returned to 10 . It is a winner during the pandemic. The big question is Going Forward. Should you get in . Would the momentum last . Corporations do believe so because of all the corporate clients. At fox news we have corporate account and we have access to this and on the Conference Call zoom signed two other big players exxon as well as other large firms and if youre wondering, 50yearold ceo eric swaan he made roughly 12 billion. 12 billion just in 500 million shares that he owns right now. Most of his net worth is through stocks. Doing pretty well. Stuart kristina, susan, dont say it, yeah, im in. However, lets bring in mike murphy. The guy from rosecliff. Mike, lets talk about the election. Its about 3 months away. How does the market feel . Give me a feel of how the market feel it is senses the direction of the election . Mike you know, stuart, one of the most contentious we have seen in a long time and the market is doing a good job looking past it. Right now trump has narrowed the gap. I believe trump will win in november but the market is playing either way. We will not get mass changes right after the election or right after the inauguration in january so the market is looking past the election at the recovery of the economy and thats why youre seeing new highs on almost a daily basis. Stuart i will give you election day chaos, that might hurt the market. I want to go backwards a little bit and look at jp morgan. One of the top guys who called the economic rebound, he said trumps reelection chances are, indeed, rising. We believe it is largely view to two effects, degree of violence and Public Opinion and two a bias in polls due to trump voters being more likely to decline or mislead the polls, certainly a lot can happen in the next 60 days to change the odds but we currently believe that the momentum in favor of trump will continue. Repeat it, mike, you think trump is going to win . Mike i do. And i think the report from jp morgan is spot on. As we get closer to the election trump is gaining momentum right now but from invest other investor standpoint, stuart, you will be okay. If we dont have an official winner, that would be bad for the market. Assumingly we we have a winner,i believe it would be trump regardless, the economy continues and right now its picking up steam. Stuart i will put apple and tesla up on the screens. Tesla is down a fraction but apple up again. Do you think do you think it would be okay for someone who has tesla or apple shares to sell just some of it, just take some money off the table after a terrific would you be okay with that . Mike we own apple. Unfortunately we do not own tesla but when you see the types of moves, tesla is up in the last month, taking off the table is prudent because from an investor standpoint if we do get a correction in overall market or the individual stock, they have some money on the sidelines to put back into the market. So i think after these runups that weve seen absolutely it makes absolute sense to take a little bit to trim the position. Stuart got it, murphy, always a pleasure, see you later. Down 5 bucks now, what do you have . Susan 5 billion in new shares, it makes sense, they run up nearly 5 this year, record highs, maybe not a bad time to sell more stocks. The additional shares would be sold from time to time and as market prices. The stock looks unstoppable, rallied 12 yesterday. Thanks to jump, elon musk the third richest person behind Mark Zuckerberg. I know people cant get over the crazy valuation of teasera whic tesla which is a thousand times over profit. Look at sales and if you look at tesla sales had more sales, why shouldnt it be worth more than visa . Stuart revenue. Tesla has more revenue than visa . Susan yes, it does. Stuart you hit 500 a share. Susan you have to look forward. Stuart i remember 1990s. Check the futures. Especially the nasdaq, look at technology doing well all over again. Up another 60 points for the nasdaq maybe at the opening bell. Hotel names, look at them. New report says the industry remains, quote, on the brink of collapse. We will explain the key problems that they are facing. How about the pandemic, number 1 . Joe biden out of the basement and finally talking about the violence across the country and including to him its all President Trumps fault. You have to listen to this. These are not images of some Joe Biden America in the future, these are images of Donald Trumps america today. Stuart by the way at his presentation biden did not take any questions. He didnt ignore reporters throughout campaign, we will discuss that for you. President trump will likely not ignore reporters when he leaves the white house for kenosha today, that is coming out next hour and we will be sure to take you there when it happens. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. 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The mayor of kenosha asking the state of wisconsin for 30 million to help rebuild this community and thats exactly what the president is going to see, burnt buildings and other structures damaged from the rioting done last week. On one night alone 37 fires in the city. President trump talking about the destruction here and other cities across the country. Listen. We have to stop this horrible leftwing ideology that seems to be permeating our country and basically its weakness, its weakness on behalf of democrat politicians. Republicans, we dont have problems, our cities are doing well, they are safe and secure. Reporter not everybody, though, pleased that the president is coming. Governor tony ever sending letter to the white house to not come or delay the visit. The mayor saying something similar saying he came at a later date. But the president insists he would help Community Heal and support of Law Enforcement while hes here. He will be meeting with Law Enforcement officials and doing roundtable discussion with them. Stuart 2 million in damage just in government buildings. Grady, thank you very much, indeed. As President Trump heads to kenosha, joe biden reviving inperson campaigning. He finally condemned the rioting and violence and hes putting the blame elsewhere, watch this. Ask yourself, do i look like a radical socialist with a soft spot to rioters . Really . I want to make it absolutely clear, i want to be clear about all of this, rioting is not protesting, looting is not protesting, setting fires is not protesting. None of this is protesting. Its lawlessness. These are images of Donald Trumps america today. Stuart member of the black voices for trump organization. Okay, joe biden blames the president for the violence, whats your response . Joe biden is a joke. For days, weeks, months joe biden has stayed in the basement and didnt respond, didnt condemn antifa, didnt condemn the black lives matter organization, didnt condemn the violence and rioting and the lawlessness. As a matter of fact yesterday i didnt hear him specifically condemn outright all of these instances that were plaguing and continued to plague the black community. He said they werent protests because before he called them peaceful protests. Joe biden does not need. When you need leadership the black community are turning to President Trump because he is leading whether its operation legend, calling on the National Guard and more troops to come in and to protect these cities, these black communities, these businesses, President Trump is the one leading. Joe biden is not leading. As a matter of fact, joe bidens campaign was bailing out rioters, joe bidens running mate was soliciting funds to support the bailing out of these lawless rioters. Thats not leadership. He should condemn it outright but you know what, hes only doing this right now because hes tanking in the polls. The black community is supporting President Trump like never before and hes doing this because its politics and not because theres something in core being that says he does care about the communities on fire literally, he doesnt, its about politics and thats why he came out of the basement to make speech with not taking any questions to only return to basement. Stuart paris, in 2016 President Trump got roughly 8 of the black vote. What percentage of the black vote do you think he will get in 2020 . Well, if you look at polls right now ive seen black approval for President Trump at 20 , 30 . Hail harris polls, they are showing an increase of support for the president. Theres no doubt that the 8 that the president received is going to be increased significant amount because of all record of accomplishments and him continuing to standing up for the black community and fighting for the black community and wanting the black community to be protected and the lawlessness and violence to end. I predict President Trump is going to be increased he could get up to double digits. We havent seen a president like this with this much accomplishment, this much leadership and this much courage and conviction for a very long time. President trump is a champion for the black community, theres no doubt about it. Stuart paris dennard, voice for trump. I hope so, good to see you. Stuart Delta Airlines and americans joining united in dropping domestic flight change fees, covers flights, u. S. , puerto rico, Virgin Islands and american, canada, mexico, caribbean. The stock is down 40 cents. Thirtyseven cents a chair on southwest. Lets get back to tiktok. We were saying, susan, that a deal is not road blocked by china and may happen today. Susan could choose a buyer today but looks like later on this. We have two consortiums at play, microsoft with walmart, oracle, the clock is ticking since we have President Trump executive ban go into effect september 20th. If they dont find bidder, they will be banned from the u. S. The fact that they need chinese approval in order to transfer technology slows down the process. Stuart lets not forget that today is september the first. Here we go. The market opens in 7 minutes time and we will open with a gain for the nasdaq, a gain small one for the s p and a drop for the dow industrials as we wait for the market to open take a look at times square, same ole, same ole, deserted. Elity. Get your slice today. I wanted more from my copd medicine thats why ive got the power of 1, 2, 3 medicines with trelegy. The only fdaapproved oncedaily 3in1 copd treatment. 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Stuart all right, as weve been reporting for yesterday and again this morning, jp morgan, one of their top guys says President Trumps reelection chances are rising and theyre advising clients to start moving their money to anticipate a possible trump win. How about that . Howard lambert is with us, creator of the maga etf, all right, how, if youre the creator of magna etfi take it you agree with jp morgan and you think trump is going to win, make your case, why is he going to win . Absolutely, the democrats were counting on pandemic to send them over the top and now its backfired. What youre seeing the American People saying 90 days into the riots and looting, that doesnt have anything to do with george floyd, these are Bernie Sanders and biden supporters and when the democrats didnt say anything at their convention about it that sealed the nail in the coffin and biden will be hurt by that. Stuart you think that the issue of urban violence has risen almost to the top of the pile and is now the commanding issue in the election . I think its the top issue followed by the coronavirus followed by the economy in that order. Stuart what do you think of the economy under joe biden . So what we are going to see under joe biden is what we are going to see under barack obama and joe biden, we will see much higher taxes an much higher regulation and its going to give us anemic economy growth. Thats what we are going to see and so thats what the markets are looking at right now and going we dont want that and the thing to watch here, stuart, Going Forward i really think the financials. People will not end up with Elizabeth Warren as secretary and President Trumps trump policies and Economic Growth and the tenyear start to move higher in yield. You have the combination and the fact that we will not have Elizabeth Warren as treasury secretary and the banks have not participated. I would advise to watch that. Stuart thanks for joining us, always appreciate it. Good stuff, indeed. Weve got about 30 second to go before we open the market this Tuesday Morning. Im going to look in particular at the nasdaq, looks like its going to go up again, significant gain, walmart, tesla, microsoft and, of course, zoom. Wait till you see how zoom zooms when trading start. Okay, here we go. Its 9 30 eastern time that would be Tuesday Morning, here we go. Big board has just opened and we have a lost about 60 points, 50 points, there you go. All red among the dow 30 but modest lost, thats the dow. How about the s p 500, thats open on the upside. 2 points up on 3,500 index. Thats a fractional gain. Give me the nasdaq, alltime high yet again. Youre up about twothirds of 1 , 11,848 right from the getgo, the nasdaq is up. Why . We will look at big tech. I think we are seeing highs there. Yes, we are, is apple alltime high . Yes, it is. Amazon is just a little shy of 3,500 per share. Thats a new high, i think, susan. Very close. Facebook, again, getting back towards 300 bucks a share. Only microsoft on the downside and that just switched to the upside. Susan call it flat. Stuart thank you very much, indeed. Lets have a look at walmart announcing Subscription Services called walmart plus and this is september 1st, two weeks from now they lunch. Walmart back to 140 per share. Kodak has bought 5 stake. Stock is up 58 . Here is what interests me, pelaton, keeps going up. [laughter] stuart keep laughing, sexist ad. Susan find your wife a bike. Stuart everybody thought that was a mistake at the time but that was low 20s back then. Youre up 50 bucks if you bought the ipo. All right, look at the stocksplitting giants, apple and tesla, alltime high for apple, tesla reversed course, they are selling 5 billion worth of extra stuff. That accounts for that, susan has the story, no she doesnt. Youre not going repeat it . Susan we will save it for a few minutes. Stuart this is exciting. S p is coming off its best august in 30 years. Here is your chance, susan, why its done so well . Susan tech, do i need to say it . Amazon and facebook parent alphabet, travel, leisure names, they came back in august, think of royal caribbean, mgm resort, both up 40 in august and you have the dow newcomer, up 40 in august, august caps off 5 straight months of gains. Lets start with april rebound, it went up 13 after march covid lows. Thats the biggest 5month percentage gain since the Great Depression going back to 1938. Investors are bracing for possible headwinds in september, maybe the gains wont continue because Congress Comes back from august recess and, look, the markets really need to second stimulus plan and so do average americans. Stuart mark meadows this morning is talking about another stimulus vote next week. Thats what hes talking about. Susan theyve gotten their august recess. A whole lot better than at the end of march. Stuart lets bring in kristina on astrezeneca. They are looking to get 30,000 human participants. First held at the university of wisconsin and they are starting the trial as of today. The way its going to work and this is a shot created by researchers at the university of oxford. Youre going to have either two shots of the vaccine if youre a participant or a placebo. The entire trial is starting today. It is a large one. At the moment, other companies that are also working on phase 3 trials include pfizer as well as moderna. Given the pressure right now astrezeneca did come out with a statement to get vaccines out as soon as possible. We are moving quickly but without cutting corners. For all our viewers looking to participate because they do need a lot of people you can go to coronaviruspreventionnetwork. Or, they want all walks of life all health levels. Stuart you cant just volunteer for the placebo or the real thing, you joust just have to volunteer. You have to go several times a week. So it is time commitment. Stuart netflix. Thats for me. What do you have. Susan you have an account now. Big netflix hit, have you watched strangers things, its my favorite. The two opens and other movies. The First Episode of each show and tv series is available but you can watch the entire film. Theyll be a 30second skippable ad at the start so you can call it adsupported and made available to over 200 countries that netflix and netflix looking to entice even more subscribers to platform, they have close to 200 million around the world, not bad and covid lockdown meant record streaming, recordwatching on netflix and Record Number of subscribers in the first part of the year and netflix expects the trend to slow down. Stuart they are giving you a taste so you opt in with some money. Susan thats right. Stuart kristina, another one for you, disney world is closing some of its hotels, tell me how long they are closing them for . Reporter well, seems like wallet disney cannot bring back magic to hotel business. This is the polynishian hotel. There are some other hotels from disney as well, Beach Club Resort and board walk inn that are currently closed indefinitely and this move comes as Hotel Occupancy rates in florida have plummeted. Last but not least for those family members, adults, kids, that want to know whats going on with the parks, they will continue with limited hours well through november, so we dont know yet what will happen with the events like the lighting of Christmas Tree or holiday. Stuart kristina, thank you. Check the big board, 7 minutes into the session and we are down onethird of 1 . President trump heading to kenosha, wisconsin in our next hour despite democrats there calling for him not to come. Stay away they are saying but hes going to go and expected to talk to reporters before he actually goes, when he leaves the white house, we will bring you that for sure. We are seeing leftist mob attacking prominent republican and any supporters of President Trump. Will this really stop joe biden . Will it stop if hes elected . If biden is elected will that stop . Brian kilmeade will have something to say about that. Mayor de blasio hinting that Indoor Dining wont return until theres a vaccine. Why wont Governor Cuomo step in to save the citys enormous Restaurant Industry . We will debate that. Again, look at sixth avenue. Its what 9 38 on a Tuesday Morning and, again, the sidewalks are empty and theres no traffic. We will be back. 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. 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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 stuart im going to put the hotel stocks up on the screen for you. They are clearly feeling the pain and kristina you have numbers on the pain, tell us. Reporter ive been reporting on this especially in new york city, so many major hotels have been shutting down but the latest report from the American Hotel and lodging association and they are saying that thousands of hotels are at risk for closing their doors for good. The report highlights 5 key issues, first one, the fact that now they are saying 4 out of 10 Hotel Employees are still not working because we know hotels have been closed. Almost twothirds of Hotels Remain at or below 50 occupancy. You also know people arent traveling as much anymore, we can see reflected in travel stocks and some of the major, major chains out there, we know marriott here has trouble, the w, they are saying even urban hotels could face collapse and this is just has a trickle effect across all cities. Previously before the break we talked about orlandoing are the lowest occupancy rate and this is having a trickle effect and Industry Leaders are trying to push for an extension of the ppp and they want additional relief specifically for the Hotel Industry as well. Stuart yeah, well, its a disaster and thats a fact. Kristina, thank you. Susan has bee in my bonnet because of tesla. Susan tesla with 500 rally this year surpassing visa when it comes to market value, General Motors away from taking oracle of omaha and brookshire hathaway, this is astounding and betting the stock will fall from current levels. Yes, actually if you look at it this might be a bargain, as i mention today you, how you look at and value growth place is different from shall we say value, the traditional ibms of the world. I looked at Revenue Growth and sales growth and as i said to you tesla has more sales than visa did in the last quarter, shouldnt it be worth more . Stuart i see your point. Reminds me of the 1990s. Dot com. I know its a different thing entirely. You had stocks going to the moon. Susan they had no sale, they had no business, they have physical tesla cars on the road. Stuart i stand corrected. Mike douglas is with us. He will bail me out. Hes laughing. Hes coo of steel house. I read your stuff, mark, youre saying that the exodus of americans out of the cities, sometimes out of the suburbs and going to the rural areas, why do you say that hurts tesla . When people move to small towns they tend to buy bigger cars, pickup trucks, utility vehicles and teslas product strategy i dont think is key to what is actually happening in america where everyone is considering, reconsidering where they want to live, and so im very concerned about that. I think the product strategy is not aligned with the current reality of the world. Stuart what are the cars too expensive . Yeah, i think of people who typically buy a tesla, they tend to be younger, kind of very urban professionals and, you know, you think of the same person now moving i have someone at work, shes moving to mammoth. Shes not going to buy a tesla. The car is too expensive and doesnt have the same utility she can get in other choices and so at these stock prices, it just takes a shift on what consumer wants and have a really big impact in terms of tesla sales and them hitting the numbers quarter after quarter. I think thats stuart mark, i think you would agree that the stock price going to the moon as it has, a Different Drummer making that beat. They are going up so sharply because people think thats the car company of the future, thats where its going. In terms of teslas longterm future. If youre a longterm holder, thats probably right, but tesla is going to have to adjust product strategy to adjust to a world where people are leaving large cities and want a different type of vehicle and they are not there right now and thats going to take some time. Stuart we hear you. Mark douglas, thank you for being with us. Thank you. Stuart ecommerce marketplace and thats how its described and its called wish. I dont know much about it but im told its going to go public. Kristina, you the details for me. It is an ecommerce platform, you can get everything from super, super cheap knives to party supplies, you have to have patience because moist of the goods take 2 to 4 weeks to arrive from home but the company has announced another ecommerce or tech company that they are looking to go public. They did submit draft registration to the sec and havent provided any Financial Statements but on the website you can see that they have a million sellers, theyre been around for at least the past decade and website says right now they have 70 million active users and they consider themselves almost the cheaper alternative to amazon prime because you dont have to pay 1t 119dollar membership fee and this isnt the only one or the only tech Company Going public. We know that airbnb is in the works, the Data Warehouse snowflake and a few more. Its going to be an interesting end of 2020. Stuart another of the company future, kristina, thank you very much, indeed. Joe biden is out on campaign trail and hes telling voters that it was President Trump who crashed the bidenobama economy. President obama and i stoppede depression, we took a bad economy and took it around. Trump took a good economy and drove it back into the ditch. Stuart thats revisiting history and rewriting it. I wonder what Charles Payne has to say about that. Hes on the show in the 11 00 oclock hour. Cant wait. President trump heading to kenosha, wisconsin in the next hour likely speaking to reporters before he takes off. When he does if he does youll know it and youll see it right here. We will be back hike coming to the green flag, racing at daytona. Theyre off. In the kentucky derby. Rory mcllroy is a two time champion at east lake. He scores stanley cup champions. Touchdown only mahomes. Expect anything different . The big events are back and xfinity is your home for the return of live sports. Stuart 22 minutes in. Here is where we are, up 90 on the nasdaq and that tells you that big tech is doing okay. The dow has turned around, fractional gain there. It seems to me that the age of the cloud susan keeps telling me thats where we are and i believe her and only a few companies dominate the cloud. Thats the way it is. Look who is here kevin jones, he is the coo of rack space technology. Kevin, thanks for coming on the show. First of all, straighten me out. I am told that you help people get on the cloud, that you help Small Companies get on the cloud, manage their move to the cloud, is that right . Kevin thats right, thank you very much, stuart, for having me on. Its great to be here. Youre exactly right. Multicloud is the use of more than one cloud and what we do is provide end to End Solutions across the multiclouds. Private and public cloud, application, security and data, we really help customers across their entire life cycle from advisory consultant, integration and move customers to environment and we manage it and optimize it over the long term. Stuart okay, your company is doing very well but the cloud business, i think, is dominated by the big guys specifically amazon, microsoft even alibaba, is the big guys forum. Are you over a takeover target . Kevin well, look what we do, stuart, we partner with all the firms that you just mentioned and thats been a strategic shift of our company in the last few years. Today we partnered with aws, with google, with microsoft and other providers and we provide very complementary services, you know, while the public scalers provide fantastic Innovative Products in the world, what we do is we advise customers and make sure they are managed. Stuart you have dodged the question. Maybe the ceo of Publiclytraded Company has to dodge a question but you dodged it. You wouldnt make a good takeover target, would you . Kevin thats always possible. Right now we are focused on executing, taking care of customers and executing our business which is going really, really well. Our company today is a 2 and a half billion dollar company, probably saw Second Quarter results, we are super excited about the future. Stuart well done, indeed, kevin, we are glad youre on the show to explain the cloud and multiple clouds to me. Good stuff. Kevin jones, we appreciate it. See you soon. Thank you, sir. Thank you, stuart. Stuart still to come on this program today, former Wisconsin Governor Scott Walker on the president s trip to kenosha today, Brian Kilmeade, whoa, is he fired up about joe biden avoiding reporters questions. Unbelievable. Cant wait to see what charles has to say there. Its 63 days till the election, the violence in our cities become an issue number 1. I dont think thats good for joe biden. My take on that is next. We were one of the first stations to pilot a fleet of zero emissions electric vehicles. The amazon vans have a decal that says, shipment zero. Were striving to deliver a package with zero emissions in to the air. I feel really proud of the impact that has on the environment. But were always striving to be better. I love being outdoors, running in nature. We have two daughters. I want to do everything i can to protect the environment to make sure they see the same beauty ive seen in nature. My goal is to lead projects that affect the world. I know that to be great requires hard work. Find a stock basedtech. On your interests my goal is to lead projects that affect the world. Or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Stuart i think were all in the green. Yes, we are. Dow is up, s p is up, nasdaq a very nice gain, up 83 points, 11,858. Techs are doing well. Here are the big movers of the morning. Tesla is down 26 per share. Why is it down . Because theyre going to issue five billion dollars worth of new stock. That dilutes existing shareholders. A apple new high at 131. Amazon, 3400 a share, new high for amazon as well. Latest read on manufacturing, do you have it, susan . Susan better than anticipated. That is positive for the month of august especially heading into the fall. Were looking at ism for manufacturing, 56. 0. The forecasts calling for 54. 5. So this is positive. Anything above 50 shows there is expansion rather than contraction. We know manufacturing is going to be a big political platform heading into november. Stuart the moment that number was released, the dow turned around, now positive, up 38, sorry 33 points up there. New Construction Spending . Susan this is important for investments into the u. S. Economy and housing since we know it is booming, slightly less than anticipated for the month of july. Im looking at a number. I discuss want to reconfirm this with our producers, a. 4 reading for the month of july where economists were forecasting 1 . A slight miss. You cant deny the boom in housing were seeing right now. Stuart thats true. The that number in spending has not affected the market. The dow is up 40 points. Now this. President trump is about to leave the white house. He is going to kenosha. He will tour burned out businesses and offer support for the much maligned Law Enforcement officials. The democrat governor says dont come. The democrat mayor says dont come. He is going anyway. The president wants to restore law and order, not just in kenosha but cities across the country. Since law and order clearly broken down in democratrun communities, the president has a strong case, it has given him a boost in the polls. So much so, that joe biden hastily left his basement to throw in his two cents. Frankly that is all it was worth. He went to pennsylvania. Made a brief speech. Took no questions and l. But he did manage to say our cities are burning. That our burning cities are trumps fault. He said he is stoking violence. He is fanning the flames. Not a word about the failure of local democrat authorities. Nothing about undermining the police. Not a word about condemnation for antifa. He seems afraid of offending the radical left, even though it is the radical left that is causing the mayhem. Truth is, looting and rioting are an embarassment for the Biden Campaign. But joe is locked in. He needs the energetic support of bernie and aoc. He wont get it if he goes after the radicals. So he takes the easy way out. Its trumps fault. Seattle, portland, minneapolis, washington, d. C. , kenosha, no questions, please, it is trumps fault. That is weak policy position on violence we wake up to every morning which is devastating our cities and leaving Everyday Americans fearful for their own safety. Go straight to grady trimble, who is in kenosha. Grady, what is the mood there this morning ahead of the president s visit. Reporter i would say there are mixed feelings about the president coming to kenosha, stuart. Some people are genuinely looking forward to his visit. They want him to see firsthand to the damage done by rioters especially Business Owners some who lost everything when their buildings were set on fire. It also become quite controversial. There are several groups of protesters gathering here throughout the city. Some people are concerned that the visit could inflame tensions n an interview with Laura Ingraham the president was asked whether his supporters should get involved when leftwing protesters gather in cities like kenosha and portland. Do you want your supporters to confront the leftwing protesters. No. No. Do you want to leave it to Law Enforcement. I want to leave it to Law Enforcement but my supporters are wonderful, hardworking tremendous people and they turn on their Television Set and they look at a portland, or they look at kenosha before i got involved and stopped it. Reporter the family of jacob blake is holding its own gathering here today, stuart. They plan to do that at the site where jacob blake was shot a little over a week ago. They specifically chosen that location because it is two miles from here in the other areas where the president will be visiting. They say they want to stay out of it. Stu. Stuart grady, thank you very much indeed. This is an election issue and the election is now 63 days to november the 3rd. Look at the s p, the nasdaq, both of them actually hit daily new highs. We heard from mike murphy earlier on the show. He is downplaying any election risk. Very interesting. And all the markets, all indicators are up. Scott shellady is with us this morning. He is always with us most mornings, especially on a tuesday. He has a grim look on his face this morning. How do you think about all the new highs on the market, constant new highs when we have not recovered from the virus . How do you feel about this. Took me a long time to, break out what i thought should happen versus actually what will happen or is happening. It is hard to deny that it took us 103 years to see the dows first 10,000point move up to 10,000. Weve done that in five months. The reason behind it all is Pretty Simple when you take a step back. When you put upwards of say 5 trillion to work, a fed that will backstop everything and Interest Rates arent going anywhere for a long time. That is it what you have to take a look at. That will be the playbook. There will be some bad news. We can see some downdrafts right. But at the end of the day with that much money in the market, the fed committed to do what theyre doing, Interest Rates where they are at. Kind of hard to see it falling out of bed. That is why you have all the prognosticators saying things look pretty rosy. Stuart hold on a second, scott. I want to check a couple stocks really moving this morning. I want to start with move. Hard to believe what it is doing today. Look at it. It is up 150 bucks. They made enormous amount of the Second Quarter, made more in the Second Quarter than the whole year of 2019. The sales quadrupled. The stock is up 150 bucks. Docusign, slack, are high, significantly, especially docusign, 18 . More momentum for the stay at home stocks. Tesla, got to get to it, worth more than visa, can you believe . Making the it the 7th most valuable company. Because theyre issuing five billion dollars worth of new stock. Theyre down 17 bucks. Still on tesla, check out the new video of the gigafactory in shanghai. Quicktime laps of hundreds of model 30s put together and quality checked. They will turn out 200,000 of these vehicles at that factory per year. Time lapse speed it all up. You see how they do it. Here we go again, kodak surging with a gain of 30 . Explain to me, kristina, what is going on . Kristina we found out a Big Hedge Fund has a big stake in kodak. In an sec filing kodak revealed that hedge fund, d. E. Shaw bought almost 4 million shares. That is passive stake in the company. Why didnt kodak share the information with the sec . There are reports that there are classaction lawsuit regarding with securities fraud with kodak. Kodak wept ahead to file disclosure with the sec. In the month of july we saw shares of kodak surge. That is because the government did offer to give a loan to help the company with Domestic Production on the pharma ingredients. Because there is much scrutiny right now that loan is on hold. Youre still seeing the stock up. Clearly it is not a fleeting kodak moment. Stuart a fleeting kodak moment. Very good. Welldone, kristina. Thank you very much indeed. Lets get serious joe biden, says president slamming economy into the ditch. You have to watch this. President obama and i stop ad depression in 2009. We took a bad economy that was falling and turned it around. Trump took a good economy and drove it back into the ditch. Stuart i just cant wait to hear what Charles Payne has to say about that. He is coming up in our next hour. Also ahead, well be hearing from the president as he leaves the white house for kenosha be wisconsin. When we get it you will see it real fast. Promise. First, new york citys mayor bill de blasio hinting that Indoor Dining wont return until there is a virus vaccine . That could take months and months. He also says he wants to tax the wealthy at a much higher level. You will hear it all as the second hour of Varney Company keep rolling. You can go your own way go your own way your wireless. Your rules. Only Xfinity Mobile lets you choose shared data, unlimited or a mix of each. And switch anytime so you only pay for the data you need. Switch and save 400 a year on your wireless bill. Plus, get 400 off when you buy the new Samsung Galaxy note20 ultra 5g. Is there a point, is there a way we can do something safely with Indoor Dining . Sofar we have not had that moment. I do expect, pray for, i expect a vaccine in the spring that will allow us all to get more back to normal. But i, i will absolutely tell you, todd, were going to keep looking for that situation where we can push down the virus enough where we would have more ability to address Indoor Dining. Stuart that is really extraordinary. That is the mayor of new york, bill de blasio, hinting, that Indoor Dining wont return until there is a vaccine in place. Not likely to happen till, for months and months and months. Scott shellady agreed to hold over past the commercial break and he is with me now. Dont let your head explode, scott. Hold on a second. No. You have to listen to the next sound bite from de blasio where he implores residents to help him tax the rich. Watch this. You really want to change things in this city . Then everyone Better Change a lot of the way we live more foundationally. If you just talk about, feel selfsatisfied, god bless you. That is not actually going to change things. What changes things is redistribution of wealth. Tax the wealthy at much higher level, i just feel like this is a lot of Cocktail Party comfort going on rather than people honestly dealing with this issue. Help me tax the wealthy. Help me redistribute wealth, help me build Affordable Housing in white communities, if you want desegregation. Stuart well, scott, im sure you heard that. I see the expression on your face is somewhat grim. Have at it. Well, it is clear now that the thinlyveiled neutrality he is come out from behind that, number one. Number two, all of those cocktail parties are taking place in florida because no one will have a Cocktail Party anymore in new york. Number three, what does this man open season saying what every you like with absolutely no accountability, maybe nobody listening because it is insane. Here you have got a mayor asking to keep these restaurants closed for Indoor Dining until next year, next summer, next spring . Where is he going to get the tax revenue from, stuart . When you got everybody fleeing your city and no businesses actually making any money to pay Business Real Estate tax or income tax . Where is this going to come from . Nationally the rich pay almost, upper 1 , pay almost 40 of all individual real estate taxes, all individual taxes. Stuart yep. How much, what is fair . Pay their fair share . Do they have to pay all of everybodys taxes . There is not enough people left in new york to do that. This man is certifiably insane. He cannot hold a cogent thought or coherent thought for any length of time. Stuart if you make real good money, you live in new york city, your tax rate is well above, well above 50 . I dont think it is moral for any government to take more than half of any persons income period. That is where im coming from. Last word to you. He is coming from redistribution of wealth. There is no morals in that. That is like having a minimum wage and a maximum wage . You cant earn more than . Absolutely insane. That is where he is coming from. So, look, that city, like chicago, we have the same problem here, women implode at this rate. Stuart thank you, scott. You managed to keep your head together and gave us a cogent argument that was good. Youre a good man. Thank you, scott, appreciate it. Lets get back to Indoor Dining because, it resumes in new jersey friday, caveats of course. 25 capacity only. Masks, tables must be six feet apart. That is the plan for friday, new jersey. Amy russo is with us. She is the owner of toast in as asbury park, new jersey. Amy, look, i think this is a welcome step but i dont think it is enough to let you make a profit, look, winter is coming. So the Outdoor Dining stuff that goes by the wayside. 25 capacity. That is not enough to make a profit, is isnt. No, not enough to make a profit. It certainly moves the needle a little bit, i dont want to be ungrateful for it, up im not about to thank our governor 25 either. I think were two months behind. Stuart how close are you folding up your tent and leaving for good . Pretty close. You know, i dont know that im going to get out of this with three restaurants. When i heard 25 . While it moves the needle, certainly didnt give me any respite to say, oh, thank god we made it now. Were still struggling and well see if 25 moves to 50 quickly. We have a much better chance as do all of the other restaurants. Stuart how much Outdoor Dining a you got right now . Look, i live in new jersey, in the town that i live, i see everybody has a space outdoors. It seems to be doing pretty well, but that all comes to an end. There is a nip in the air right now. Im not going to be out there eating my lunch if it is 52 see grease. Im not going to do it. This past weekend on sunday it, was beautiful day, it was windy. Yellow jacket season. Now im in the business of killing wasps. It will not go very well. Only one of my locations has apple outside dining. My montclair location has very, very little. It is normally my highest produce ir. Were working with 14 seats. Like you said. It is cold. The minute it drops below 70 people start complaining. People wrapped in the beach towels over this past weekend. It is not optimal. Stuart amy, i hope the governor in new jersey, sees the light, opens up to 50 capacity or full capacity, you make it through this crisis. Our hearts are with you, amy. Thanks for being with us on the show this morning. Sure thing. I hope. Stuart look, i got an Indoor Dining outrage story for you. This is about philadelphias democrat mayor. Kristina, take me through it. Kristina busted. The philadelphia mayor, jim kenny, thought he was enjoying lunch indoors at his friends restaurant in maryland until somebody caught him on camera and instagrammed out a photo of him dining indoors when his city has been dine banned dining indoors. They wrote, glad youre enjoying social Indoor Dining without a mask. Restaurants here, close, suffer, fight for every nickel to survive. I guess all the press briefings, narrative unsafe Indoor Dining dont apply to you. Thank you for clearing it all up for us tonight. The mayor took to twitter. He apologized. He tweeted out, he knows he upset people that he dined indoors. He felt the risk, here is the excuse, he felt the risk was low because the county i visited had fewer than 800 covid19 cases. Read that howe you want. He still dined indoors when philadelphia is still not allowing Indoor Dining until september 8th. That is 25 capacity. Stuart driving people out of business. Kristina, thank you very much indeed. The markets im sure, yes, we still have plenty of green, especially the nasdaq. Up 110 points. What are you laughing at . Susan zoom is up close to 50 today, zoom and docusign. A lot of work at home stocks are going parabolic and vertical. Have you seen this type of Market Action . Stuart not since 1999. Susan these are Real Companies with real profits. Stuart absolutely. Im not making a joke here. Youre absolutely right. Dont compare the dotcom 1990s with the teslas and zooms. Susan dock you signs. Stuart microsoft, all the rest of them. Susan not comparable. Stuart it is not. Look at that, lots of green for the dow, s p and nasdaq. Bloom inbrands, restaurant people. They own out back steakhouse. Up 10 after a couple firms, deutsche bank, raymond james, said the stock is a buy. Investors like that. Up 10 . Drugmakers put them up on the screen. Regeneron, that the arthritis drug is not effective treating the virus. They put up more testing for now. Both stocks down, especially regeneron, down 3 . Astrazeneca is heading to the final phase of the virus vaccine trials. Nevertheless the stock is down 1. 2 . Walmart, rolling out their walmart plus service. Direct competition for amazon, aint that right, susan . Susan theyre definitely looking over their shoulder. Talking about walmart plus, 98, slightly less than prime membership fee of 119. Free grocery delivery, discount on gas at walmart parking lots. 10,000 items discount including toilet paper and fresh food. There is a cash, only items sold in store. Walmart plus does not include free delivery from the online store, walmart. Com. It sells millions of items and instead of hundreds of thousands of items. Walmart. Com, you get free delivery on any order over 35 bucks anyways. Stuart given that caveat the market still likes it. Youre up, on walmart. The tiktok deal might be back on. Susan this is all impending competition for amazon. If you think about it, this is all directed at amazon. The tiktok deal is looking to rival amazon, four billion in advertising. When did you think of amazon as a Advertising Company . Walmart looks and said we want the same thing especially were selling goods to a younger audience on tiktok as well. Stuart it is just the new economy. It is where were going. It is fascinating to me, it really is. Susan is walmart behind the curve . Can you play catchup, ceding a runup of lead of six, seven years. Stuart at least they are trying. They are trying hard. They seem to be succeeding. Ininvestors like it. Susan thats true. Stuart live look at the white house please. The president leaves soon for kenosha. He may speak to reporters. If he does you will know about it. He is going to kenosha despite democrat leaders asking him to stay away. Reporter concerns it could exacerbate tensions and increase violence. Do you give any consideration President Trump it could also increase enthusiasm, could increase love and respect for our country. That is why im going. Because they did a fantastic job. Stuart he is going. He will be on his way shortly. More varney after this. Its made for this guy a veteran who honorably served and its made for her shes serving now we made it for all branches and all ranks whether they served one tour or made a career of it. We also made usaa for military spouses and their kids usaa is easy to work with and can save you money on auto, home and renters insurance. Become a member today. Get an insurance quote at usaa. Com quote usaa. What youre made of were made for 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. The violence were seeing in Donald Trumps america, these are not images of some imagined Joe Biden America in the future. These are images of Donald Trumps america today. Ask yourself, do i look like a radical socialist with a soft spot for rioters . Really . I want a save america, safe from covid, safe from crime and looting. Safe from raciallymotivated violence. Safe from bad cops. Stuart well, joe is finally out of the basement and hitting the campaign trail and trying to pin the blame for all the violence elsewhere but these protests and riots are happening in democratrun cities across the country. Got to account for that. The president firing off this tweet in response. Here is what he says, just watched what biden had to say. To me is blaming the police far more than he is blaming the rioters, anarchists, agitators and looters which he could never blame or he would lose the radical left bernie supports. Of course the president is on his way to kenosha ignoring the states democrat governor who told him to stay away. Look who is here, scott walker, former republican governor of wisconsin. Scott, what is the mood of the whole state, not just kenosha but the whole state . Well, people, are very, very concerned figuring if it can happen in kenosha can happen anywhere, very thankful for the president stepping up to offering help. Once they took that help we saw things really since late last week calm down in kenosha, a great city. Now i think it is outstanding that the president is heading there today, not just to thank those involved in the Law Enforcement, thank the members of the National Guard who were part of bringing that calm, but actually visit, to hear from many of the employers, many whom businesses are boarded up or in some cases burnt to the ground. They will need help to move forward to make the city great for everyone. Stuart i have new polling out of wisconsin, it shows biden with a fourpoint lead over the president but President Trump seems to have closed the gap with biden over the last few weeks. Do you think that is because, president is moving in closer to biden, that because of the events in kenosha and the publics reaction to them . Well, i think that was happening already, just when people saw that joe biden is outsourced his agenda to the radical, radical left, including his running mate who according to newsweek has a voting record more liberal than Bernie Sanders. As people see in kenosha which is a battleground county in the state of wisconsin but across the state and really across the country. When they see the president doesnt need a focus group or a poll to step up to do what it is right. That is what he does. Took joe biden three nights of chaos, riots, fires, sadly two deaths in kenosha before he spoke out about the violence. People can see through that. They want a leader who does what is right before they put their finger up to put a check what the polls are. The president is heading right direction but it will be incredibly tight as it was four years ago. Stuart is it provocative for the president to go right in the middle of it at this time . No. He wants to thank people at forefront and he wants to thank congressman brian shine who asked him to come here. The paper in kenosha historically endorses democrats, the paper there ripped an editorial on thursday on the governor because they said his comments a week ago sunday actually helped fuel things even before the rioters got there. Joe biden gave essentially the same comments t was the president who stepped up and provided help that brought calm we needed in kenosha. He can do that anywhere in the country. Stuart, as you mentioned, the consistent thread in all of this is these are democrat cities led by democrat mayors or in some cases like wisconsin, democrat governors as well. Who are trying to push back on the president. The president is going to stand up for the American People. They, that is it what we need. We need someone who is fighting not for the establishment but for everyday people crying out for law and order and safety in our communities. Stuart one last one, real fast if i may, there have been several examples recently of public figures, republicans, whose favs and look is wellknown to everybody. They have been attacked. There has been an attempt, really to intimidate them. Do you feel safe . Youre a public figure. People know who you are. Do you feel safe walking the streets . Well i think its a horrible situation when we saw people coming out of the white house in washington, d. C. Sadly we went through this eight years ago. The key was you have to be unintimidated. Stand up for what is right. No one, whether democrat or republican should have to fear speaking out about their political or religious or any other views in america. One should be safe, why we applaud the president for giving help we needed in kenosha. Stuart by the way i think it was eight years ago i gave a speech in madison, for the first time in my life i had to have two Police Officers armed with guns getting me in and getting me out. That has never happened to me before then. Governor, thanks for joining us. We foreshadowed wisconsin what is happening nationally. Remember we ultimately triumphed in the state. Now the nation is better because of it. Stuart wellsaid, sir, Governor Scott walker. See you again soon. Thank you. Stuart lots of green. The dow is now up 76. Alltime high for the s p. Is that an alltime high for the nasdaq . 11 nine . I think it is. Yes it is. The dow at 28,500. How about that . The price of gold. We havent checked for a while. Where is it . 1978 is the price. Price of oil . 43. 38. Susan i have a question for you. We have gold prices do closing in on 2000 and volatility the fear gauge highest since july. Does this make sense in a record breaking market people are going long and positive on stocks but yet still fearful something might happen if we dont get a second stimulus plan. Stuart kind of opposite, yeah. Seems like it. Susan i never seen like a market seems like every asset class going up in tandem. Stuart look at that. Look at the airlines. Theyre bearing the brunt of the pandemic. Lufthansa, that is the German Airline, they dont expect a full recovery for four years . How about that. Well discuss it for sure. On your screens. Look at it go. That is the new rollsroyce ghost. Clearly a luxury car. Here is the question, are people going to buy a huge big ticket item like that at a time like this . We have the ceo of rollsroyce on our show next. Stuart onward and upward. The dow up 80, s p up 14, the nasdaq up 126. New high for the s p, new high for the nasdaq. Same old, same old, how about that . Exciting news for rollsroyce fans. I believe we have a couple in the audience. They unveiled the most advanced ghost model on your screen right now. We have the chief executive of rollsroyce. There is a delay in the audio here, so im going to ask a question and you get right at it. Im told that you have got a postop you lent design of the new rollsroyce. What is a postop ulent dine . That is an expression we borrowed from one of our clients who saw the carp here a couple months ago, first time. He said knit a way that our ethos was always to make ghost more subtle. That was always, i would call it the recipe for success of the outgoing ghost to be the most subtle way to drive a rollsroyce. Our ethic with the new one, very minimalist design language, quite reduced. Still very much a rollsroyce but very different. More subtle. Different way to drive a rollsroyce. And that particularly resonates very well with our existing ghost clients. Stuart when i was a youngster living in england we used to say that the only thing you could hear when you were driving a rollsroyce was the ticking of the clock. Is that still true . I understand youre going for what you call interior serenity . I mean i would say it is even better than that of course our clocks are not ticking as loud as anymore as they used to tick in the past but you are basically based in serenity. Weve invented a complete new system also which puts Magic Carpet Ride with the new ghost on new levels. It is called a planet system which allows the car really to fly. We call it fly it on land and it is ear i eerily similar to thatt is wellinsulated chamber youre sitting in. It is pure serenity brilliantly executed and engineered i might say. Very much in the ethos of henry royce, drive for perfection in everything you do and we did. Stuart wellsaid. Last one. It is real short. How much . I mean that is always the question but i can tell you our clients can afford the car, that is for sure. It is of course when we talk u. S. Dollars in an area of around 300,000 and more to come, whatever you ask us to do in the car. Basically your dreams are our commission and we will build exactly the car you commissioned with us. To everything that is technically possible we will do. That is the reason why we also say be spoke is rollsroyce. There is only one manufacturer worldwide who can do that. That is us. Place your order and you will be very much surprised. Stuart okay. It is a deal. Thank you very much for being with us. You have managed that time delay on the audio very well indeed. Better than i did. Thank you, sir. Well see you again sir. Thank you. Fox business alert. Here we go. We have confirmation that new york city mayor bill de blasio has reached a deal with the Teachers Union. School opening delayed until september 21st. It will be a blended start, combining virtual and inperson learning. Any comment, first of all to you, susan, any comment on that . Susan i think that is stock positive, when School Starts to reopen, that has been a hindrance for people getting back to the work. For the economy getting back up to full speed. That is good for wall street at least. No . Why not . Stuart wait a minute. Let me voice my concern to you, kristina. It is a hybrid system. So what do parents do . You got parents, kids going to school for two days a week and home three days a week. How is that helping you go back to work, kristina . Exactly. Exactly. You have these different schedules but not only the parent, students. It is also the teachers a lot of teachers are resisting going back. Tomorrow, throughout the day i will be reporting on this story. The fact that one new Jersey School has 250 teachers that are, district, that dont want to go to work because of this hybrid system. They want, they feel safer. They want to work from home because a huge percentage, more than 10 of american teachers right now are above the age of 45. So this is putting them slightly more at risk than some of the younger teachers. That is another caveat we have to think about. Nonetheless still a step forward. Finally de blasio worked out something out with the Teachers Union here. Stuart i might add in france, theyre going back to school, full time, full classrooms. Even though they have a 50 increase in covid cases in the month of august. But france theyre going pack back to school, in new york. Theyre not. You hear a sound back there were having problem with blinds going up and down. Be not alarmed. I am perfectly safe. So is susan. Live tv, what you want it . Filmmaker Michael Moore is expecting President Trump to pull off a repeat of the 2016 election win. Are the democrats worried . I will ask doug schoen. Joe biden left his basement to hit of the campaign trail. Guess what . He didnt get any best from reporters. He got a free pass. Well have the Brian Kilmeade on the bidentrump double standard after this. Hi, this is margaret your Dell Technologies advisor to listen, is to hear more than whats being said. And offer the answers that make someone feel truly heard. I understand, lets get started call a Dell Technologies advisor today. Its time for aerotrainer, with your weight and health . I understand, lets get started a more effective total body fitness solution. announcer aerotrainers ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time, all while maintaining safe, correct form. Aerotrainers unique design allows for over 20 exercises for a total body workout. Plus, you can easily transition from one exercise to the next. Want tighter abs and a stronger back to help relieve pain . Do the aerotrainer super crunch. The prestretch works your abs even harder, engaging the entire core. 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Aerotrainers unique design allows for over 20 exercises for a total body workout, all while maintaining safe, correct form. Now its your turn to lose weight, look great, and be healthy. Get off the floor and get on the aerotrainer. Go to aerotrainer. Com, thats aerotrainer. Com. Stuart markets are in the green, thank you very much, especially the nasdaq. I have to show you some stocks, big names that hit alltime highs. Ive got tesla. Ive got apple or tesla retreated a little bit, but 495. Apple at 131. Amazon at 3488. I want to show you nvidia, also an alltime high. There you go, 551. Alibaba, 292, alltime highs. Bang. 10 51. You know what that means. Brian kilmeade with us. Host of the Brian Kilmeade show on the radio. Brian, i want to talk about biden, he is out of the basement, took no questions, just walked off the stage, no questions. He cant keep that up forever, can he . If im one of the beat reporters and then im on with stuart varney, one of the first things i will say, heres the story, heres the press conference. Again it is almost intolerable for me to follow this guy around and for him not to turn around and take questions. They would be skewering trump if they blew him off two days in a row. Think about what donald trump done. Jonathan swan, tough interview from axios. Chris wallace, extremely tough interview from fox news. You met him at the christmas party. Laura ingraham, very good interview last night. All the people he meets with on regular basis, oval office, dignitary next to him, walking out to marine one, joe biden is getting a pass. Here is it what happens, stuart, the polls are closing. He not onlies that to not make a mistake, he has to make some progress. To do that, you have to, introduce policies and open it up to the q a. One person that will have a huge advantage if this continues is President Trump because come debate time, this guy is going to be like untested guy never went to Training Camp asked to play against the new England Patriots in week one. Stuart unbelievable. Next case, i want your reaction to stephen moore. He was on the show yesterday describing his encounter with a violent mob outside of the white house. Hold on, brian. Listen to stephen moore. A couple of people i think recognized me, probably from your show, stuart, and they came up to me, in a very menacing way, stuart, i want toby cheap, i was not assaulted. I was afraid. They surrounded me, they were shouting obscenities, you fing pig. What you have. Stuart he was spat upon. This is absolutely a appalling in america. Somebody will get hurt. Steve moore is a great guy. So is dan bongino. So is brian mass, who lost both legs fighting wars for his country. So is rand paul. I dont agree with them on everything. I never get to the point where i have want to fight them. I dont want to fight these people. Dan bongino is cut out of stone. That is how strong he is, how experienced he is, these guys get around you, some are women, they get around you with great numbers, usually with somebody else, dan bonginos case, his wife, steve floor, you moore and walking, to absorb it. It gal van nuyss people to keep people to keep opinions to themselves and galvanize to vote them in a certain way. They have got pried. Do you think those surrounding steve moore will change steve moores vote . Do you have think they will change dan bongino, brian mass . I can empathize with stephen moore, than the angry mob, cowards with masks. Not because they want to stay safe, they dont want to be recognized. They get payments in shady source, show up in all the different cities where people like me and you are, in order to change our point of view to try to intimidate. But we have pried. Pride. Well not be intimidated. Steve moore will not change his mind. The education an experience he had in his life around fraction of his happiness and success. They will never achieve any of it. They will have their moment in their stocking caps. We will have our moment called a happy life. Well have the country we want in the long run. But you got to be smart about it. I know one guy we have on our show all the time, that punched a guy right in the head. I thought that was as much as i can empathize with him, i have dont think that is the right way to go because there is usually 100 of them. Theyre armed with lawyers and then they end up making you look bad. Stuart theyre armed with lawyers. They want you it just touch them. That is an assault. I know how it works. Brian, thanks for being with us. Glad youre fired up about this, we all are. Thanks, stuart. Stuart sure thing. Amazon, you can never ignore amazon, announcing Whole Foods Market opening firstever permanent online only store in brooklyn, new york, sent the 1st. Amazon up again. Same old story. Up again. President trump on his way to kenosha. If he speaks to reporters we will guarranty to bring it to you fast. We have a big show coming up for you, Charles Payne on joe biden claiming trump drove the economy into a ditch. Cant wait for that. Former bloomberg pollster doug schoen here. New york citys mayor, bill de blasio, looking to the tax the rich even more. That is why doug is in florida. Country music star, john rich. Great show, new show on the american dream. Im telling you dont want to miss that one. All about immigrants doing well in america. Good stuff. The third hour of varney right after this. Hey, can i. Hold on one second. Sure. Okay. Okay safe drivers save 40 guys guys check it out. Safe drivers save 40 safe drivers save 40 safe drivers save 40 . Thats totally him. 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Retire better stuart precisely 11 00 eastern time look at those markets go, alltime high for the nasdac, alltime high for the s p which is above 3,500 as of right now and now this. Here is joe biden offering 10 years worth of economic history, wrapped into three sentences. Roll tape. President obama and i stopped the depression in 2009. We took a bad economy that was falling and turned it around. Trump took a good economy and drove it back into the ditch. Stuart there is just so much nonsense in those three sentence s. You cant dismiss it as political spin. It is a false rewriting of history, to gain political advantage. Trump, took a good economy and drove it back into the ditch. Not true. Trump took an under performing obama biden economy and turned it into a world beater, tax cuts and deregulation worked thats what gave us strong growth and the lowest Unemployment Rate in generations. What drove the economy into the ditch was obviously the virus. Biden seems to be making the argument that just because it happened on trumps watch it is trumps fault. That is simplistic in the extreme. Its an insult to our intelligence, and whats keeping the economy down is the ongoing lockdown policy of democrat run states and cities. Its not trump whose ruined new york city. Its the mayor. Please dont forget, joe is committed to a Second National lockdown if a committee of scientists demands it. And in the future, whose going to drive it into another ditch . Joe biden is going to do that. You raise taxes by 3 trillion and get rid of fossil fuels, ill show you not just a ditch, but a gaping casm. Joe bidens tax regulate a Green New Deal economy would drive us all right over the cliff. After biden made his statement, he took no questions. He just walked off the stage. Hes hoping that for the next 63 days he can spout economic nonsense, and remain unchallenged. I dont think he should get away with it and i suspect that Charles Payne will agree with me. Hes the host of making money on the set with me right now. Not on the set but hes on the show with me right now. Im insensed about this , trump drove the economy into a ditch. Have at it charles. Charles [laughter] democrats couldnt even say the word economy in february. They would never even utter the word. It didnt even drip off their lips, so it really is amazing the disingenuinous effort to try to tie the effects of a global pandemic, a once in a century disaster that has shut down the entire world economy, and it was really interesting i was looking at a chart earlier today the last quarter gdp and its amazing how many countries we did so much better than although thats another narrative you would not believe if you only read the mainstream media. Its really amazing. I mean listen, i guess its what you do in politics its a dirty game. Ive always believed in politicians telling me what they are going to do for me rather than how bad the other person is but thats just me personally and i guess it works, stuart to tell people, hey, the economy is awful and we could fix it and thats not adding the fact that oh, it was amazing back in february, back in march, it was absolutely amazing, and, you know, its up to President Trump to be able to counter this and ill focus on those blue collar wage, focus on real unemployment , true in plowment unemployment and the opportunities so many people saw because people do remember it wasnt that long ago, february wasnt that long ago, they can remember just how amazing the last three years have been. Stuart youre right lets focus on the election and the market. Jpmorgans market guru says he thinks the chances of a trump win are on the rise. What do you say about that . Charles you know, and you and i talked about this last week. I said that the market believed that because the market keeps going up and here are three things ive always felt will be a potential socalled october surprise if you will. The continued rebound in the economy, unfortunately, republicans and democrats are slowing that up within my mind without a little bit of additional push for consumers, covid19 vaccine, or a strong vaccine news, and then, whats happened now, the sort of wildcard and this is one of the things that jpmorgan analysts talked about, just the civil unrest the lawlessness in these Great American cities and the idea that its expanding and could come to a city or a suburb near you anytime soon. Stuart yeah, not good for mr. Biden. I just want to tell everybody, tomorrow, big town hall planned, bar stool sports guy dave portnoy, what do you expect . I dont think dave portnoy has a very high opinion of me since i called him like a taxi driver whose giving stock tips but what do you expect from the town hall charles [laughter] well, you know, my thing with the town hall, stuart, is forever, i have been a champion of individuals taking their own destiny in their hands. Ill give you an example. This morning zoom stock is upper the year about 400 . Citigroup had a sell recommendation on it. Almost every firm thought it was overbought, so you wouldnt have owned that if you were listening to a traditional firm. You wouldnt have owned any stocks quite frankly you wouldnt be in the market so a guy like dave portnoy says im going to try the stock market and hes making a lot of money, a lot of people are making a lot of money and i want them to continue and not be discouraged by the wall street machine that says you should be satisfied with 5 a year although if Goldman Sachs comes out with their earnings and their Trading Department doesnt make 50 that stock goes down so two separate rules two separate realities but there are things that are going to happen in this market and things that new investors should be aware of. Ive been around for more than 30 years and i do this every single day i write commentary and i study the market for my own subscribers and ill take what dave has learned, what i know and try to help the audience. Stuart only 30 years . Im coming up on a half century. Charles charles but every single day, when one of my stocks are down my phone is ringing off the hook they expect a lot from me. Stuart well be watching this afternoon, 2 00 p. M. Eastern making money Charles Payne on this here network. Thank you, charles see you tomorrow. Lets get back to the markets, s p having its best august, i think since what, 1986 . 1986 thats right and whats gotten us here . Technology. Stuart you dont remember 1986 what you laughing at . Vague its very vague but Consumer Discretionary also did well along with tech as well because Consumer Discretionary is actually where they place amazon, facebook and google parent alphabet included in that part of it as well. Let me finish here first in terms of the best stock performers individual ones for the s p 500 travel and leisure names have been hit pretty hard so has royal caribbean,mgm resorts both up 40 and down newcomer salesforce also up 40 so august caps off five straight months of gains, and that started with that april rebound after march covid lows for the fivemonth rally adding 35 biggest fivemonth percentage gain since the Great Depression 1938 do you remember that . No . Stuart almost. [laughter] i certainly dont. Stuart what was Consumer Discretionary . What are consumer discretionaries . Stuart thats just wall street speak. You turn them off. You turn people off. In the audience consumer facing how about that. We all use amazon, even you are an amazon prime member arent you . Stuart wait a minute amazon is a Consumer Discretionary . As i mentioned, yes, along with facebook and google. Googles customer facing as well you go on search and look for goods. Stuart shall we move on . Yes. Stuart what you got on apple . Well apple is a 2. 5 trillion in market cap. Thats worth more than the entire russel 2,000. How incredible is that . Stuart wait a minute thats one company . One company. Stuart with more than the 2,000 companies in the russel index . Thats right. Now the russel 2,000 is usually made up of smaller names as well but this is a behemoth that represents now a quarter, someone say of the u. S. Economy, so, we have apple, its also the most influential in the s p in four decades so its worth five, six, 7 now of the index something we havent seen going back to 1980 and thats what i meant is that its so big that you have so much influence and by the way, we have that new iphone expected due out in october, where 30 of the billion iphones used around the world should be upgraded to this new 5g super cycle. Stuart its the changeover to the new model. Yeah. Stuart which means tens of millions of purchases of the new iphone. Hundreds of millions of the 1,000 fourfigure some phones so you do the math on the Sales Numbers there and plus dont forget the spending on itunes, movies. Stuart they get me for a couple of bucks every month. [laughter] stuart what about tesla . Big announcement today youve got that one too. So tesla they are selling 5 billion in new stock announced this morning from time to time to say we dont have an exact date but it makes sense since the stock run up 500 this year, record levels as to the 2 billion that tesla raised in february which is pretty smart right before covid and 14 billion theyve raised over the past decade, 10 years and teslas record run makes tesla now the seventh Largest Company on the s p 500 surpassing visa, just one General Motors thats 42 billion away from overtaking Warren Buffett and Berkshire Hathaway also making elon musk the third richest man on the planet overtaking Mark Zuckerberg now worth 115 billion with a b and i emphasized that for a reason. He made 90 billion in one year, this year. 90 billion. Not a bad pay day. Stuart i do wonder who be the first trillion air. A lot of people say its bezos because hes worth 200 billion and if you extrapolate and apply the growth rates of amazon over the last decade or so, that assumes 30 growth which i dont think is applestoapples because its not stuart thats true its not. But elon musk, with all his businesses, i mean spacex and n euro link. Not to mention tesla. And the boring company. Spacex. Stuart you add them altogether and maybe the guy has a shot at a trillion. Wow coming from a man that was a musk naysayer a few years ago. Stuart i was completely wrong. I take it all back. Oh, theyre playing that song we got to move on sorry susan. Zoom Communications Look at it. Up 119 per share, now, it was up 150 oh, its pulling back a bit still at 444 and stayathome stocks another couple of winners, docusign, thats the esignature company, a lot of success this year, that stock is up 16 as of right now. Look at Slack Software company, got it right now stayathome stocks continue to see success as the pandemic keeps going slacks up 4 . How about teledoc health, a crucial system to allow people to get Online Medical visits up nearly 3 and look at trulio, did i pronounce that right . Yes, thats right. That was impressive. Stuart theyre up 2. 5 , Communication System getting a nice bump there. 276 and President Trump will soon Board Air Force one on his way to kenosha. Well take you live there, later this hour, and i want to know, what kind of leadership are people looking for today. The competitorinchief or the law and order president , which one is it who do we want . And i also say the democrats are getting nervous about joe biden s chances of losing, that is. We heard from Michael Moore and bill maher yesterday theyre feeling less confident, what does doug schoen think about it with the pulse of the democrat party. Hes still a democrat i believe i think hes real worried. Well be back. Im a verizon engineer, and im part of the Team Building the most powerful 5g experience for america. Its 5g ultra wideband, and its already available in parts of select cities. Like los angeles and in new york city. And its rolling out in cities around the country. With massive capacity, its like an eight lane highway compared to a two lane dirt road. 25x faster than todays 4g networks. In fact, its the fastest 5g in the world. From the network more people rely on. This is 5g built right. Only on verizon. If i could, baby id how can i, when you wont take it from me you can go your own way go your own way your wireless. Your rules. Only with Xfinity Mobile. I appreciate what makes each person unique. Thats why i like liberty mutual. They get that no two people are alike and customize your Car Insurance so you only pay for what you need. Almost done. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Stuart well listen to this we have confirmation that new york city and the mayor has reached a deal with the Teachers Union, delaying the opening of schools until september 21, and it will be a blended start, right . That combines virtual and in person learning, unsatisfying to people like me. Lets stay on deblasio. He wants new york City Residents to help him tax the rich. Roll tape. You really want to change things in this city then everyone Better Change a lot of the way we live more foundationally. If you just talk about it and feel selfsatisfied, god bless you. Thats not actually going to change things. What changes things is re distribution of wealth. Tax the wealth at a much higher level and i just feel like this is a lot of Cocktail Party comfort going on rather than people honestly dealing with this issue. Help me tax the wealthy, help me redistribute wealth, help me build Affordable Housing in white communities, if you want desegretation. Stuart okay, lets bring in doug schoen, still a democrat i think, despite what you just heard from the mayor of new york city. I can hardly look, if you want to get new york going again, what are you going to do . Are you going to tax the rich some more . Youre already paying a 50 rate and he wants to tax them somewhere what is this guy doing to this city . Well the democratic governor andrew cuomo, disagrees with mayor deblasio as do i and i think the Mayors Program is a recipe for disaster for new york city. Stuart youve left new york havent you . I have, ive moved to florida. Stuart gone for good, right . I hope so. Stuart was it taxes that did it its quality of life. Its cost of living. Its taxes, its all of it, but when you hear what mayor deblasio says, it doesnt make you want to rush back, stuart. Stuart got it. Now, some big time democrat supporters, Michael Moore, bill maher, warning that trump has momentum. Are the democrats worried . Oh, i think they are worried i think bidens speech yesterday on violence is a sign that they see that the issue of urban violence and crime is cutting against the Democratic Party working for President Trump and as you probably see the odds on the election are now effectively tied. Stuart yeah, i believe thats, ive not checked today but yesterday, look at the betting markets it was really really closing hard. You telling me that as of now, its tied in the betting market that is . Im saying its tied in the betting markets. The polls are within six or seven points nationally, within three points or so when you compile the seven or eight swing states. This is close, stuart, to a statistical tie. Biden is ahead but not by much. Stuart okay i want you to just watch and listen to something. Sure. Stuart joe biden dodged questions after his speech in pittsburgh last night. Just run the tape for a second and youll be able to hear him. You can actually see him walking off the stage, can we get to that, please . Hes walking off the stage and the crowd, the reporters are asking him questions and he doesnt answer any of them. He just walks off. Look, thats his strategy, but i dont think you can keep it up forever. Stuart it may work in september. I dont think itll work in october, and the one thing i think we all know democrat republican, in independent is that with three debates, joe biden is going to have to confront him. I still would like a moderate democrat to win, but unless the party can stay in the center , and answer the issues of crime, violence, law and order, its going to be a very difficult campaign. Stuart but he is not, joe biden is not a centrist. Some of the policies hes put now are hard left. Thats certainly the case and we see the influence of people like aoc on things like the Green New Deal, so i worry about that, stuart, and i think more important, the Biden Campaign and joe biden worries about it keeps him up at night. Stuart while youre snug in low tax florida stay there doug but keep coming on the show every now and then. I welcome the opportunity thanks for having me. Stuart see you soon, doug thank you. President trumps executive order going into effect today allowing workers to defer paying towards Social Security or at least allows companies to say were not going to charge you this. Christina, come in, please because i think theres a catch. What is it . Theres a catch, and the catch is that employers would have to pay back that deferral. So, this is you may actually see a bump in your paycheck if you want to go ahead with this just in the last little while, this tax deferral is enacted up until 2020. Come 2021 then you might be taking back less home pay. Why is that . Because employers are responsible. If you choose not to have this payroll tax employer still has to pay it and if the employers still have to pay it that means they could deduct it back from you in the new year, in 2020 so again, in the statement in this actual bill, employers may also make arrangements to collect taxes from employees so the keyword here is deferral. It doesnt mean that it is forgiveness so this is just you pushing along this Tax Deduction into the new year, into 2021 but if you choose to do so you will see a slight bump in your paycheck over the coming weeks especially if you make less than 4,000 biweekly in pretax dollars. Stuart i got you, christina thank you very much indeed. Lefthand side of the screen everybody thats the president s limousine and we expect to see the president momentarily there he is walking across the tarmac going on to air force one and now yes he is hes taking some questions and weve got sound on this . Yes we do listen in. President trump the big 10 football, kevin warren, and i think it was very productive about getting big 10 playing again, immediately, and lets see what happens. Hes a great guy. Its a great conference, tremendous teams, and were pushing very hard. I think the biggest headwind we have is that you have democrats that dont want to see it happen but i think they want to play and the fans want to see it and the players have a lot at stake including possibly playing in the nfl, you have a lot of great players in their conference so we had a very good conversation, very productive, and maybe well be very nicely surprised. They had it closed up and i think theyd like to see it open along with a lot of other football being played right now, so thank you very much and thank you, to kevin. Reporter mr. President , can you tell us anything about jacob blake, are you meeting with the family . President trump i dont know yet. Well see. Well be making that determination. I dont know yet. Reporter mr. President can you tell us more about what you were referring to on fox news last night, people gathering on a plane . President trump yeah, i could tell you that i could probably refer you to the person and they could do it. Id like to ask that person if it was okay but that person was on a plane, said that there were about six people like that person, more or less, and what happened is the entire plane filled up with the looters, the anarchists, rioters, people that obviously were looking for trouble and the person felt very uncomfortable on the plane. This be a person you know, so i will see whether or not i can get that person, ill let them know and see whether or not i can get that person to speak to you, but this was a firsthand account of a plane going from washington to wherever and ill see if i can get that information for you. Maybe theyll speak to you, maybe they wont. Reporter have you responded to the armed malitias on the street . Are they worried . President trump i think a lot of people are looking at whats happening to these democratrun cities and they are disgusted. They see whats going on, and they cant believe this is taking place in our country. I cant believe it either. One of the reasons im making the trip today and going to wisconsin is weve had such a big success in shutting down what be right now a city that would have been kenosha, a city that would have been burnt to the ground by now, and were going to really say hello to Law Enforcement the National Guard and it all stopped immediately upon the National Guards arrival. So, you know, be easy to stop. I saw last night where these radical anarchists were trying to get into the mayors house and lots of bad things were happening to this poor, foolish, very stupid mayor. I mean, how he could be mayor, i have no idea, but all he has to do is call and within 10 minutes , their problem will be over. As you know, they have to call us. They have to call and request help. All he has to do is call and the problem will end. They had tremendous numbers of people really harassing him horribly and i guess trying to break into his house, and he still sticks up with them because hes a fool. Only a fool would stick up for them like that. These are anarchists, agitators, theyre rioters, theyre looters , bad people, they are burning down portland, and you take a look at that. You take a look at the scenes last night, and then the Fake News Media will say that theyre friendly protesters, because you people, ill tell you, if we only had an honest press in this country, be much more advanced, but we have a very dishonest press. Reporter can you speak at all, youve spoken a lot about the anarchy that youre referring to. What about Racial Division . Would you like to bridge some of those gaps . President trump yeah, i would. Reporter what youre saying is helping them with that . President trump i think its helping because im about law and order and if you look at the black community, they want the police to help them stop crime. The hispanic community, they want police, 82 , 84 , numbers that you havent even seen. They dont want crime. They dont want to be mugged. They dont want to have any problems, and its just a shame, and as far as the previous administration, take a look at baltimore what happened. Was it freddie grey . Take a look at baltimore, take a look at st. Louis, take a look at ferguson, take a look at what happened. What they had was put what were doing, put them to shame. Put it to shame. Take a look at those places, and you always said portland. Portland has been like this a read an article for 50 years its been going on. Id like to stop it and we can stop it quickly. All they have to do is say okay, president , now were ready. Now were ready. When i watched that scene last night with all of those really horrible people outside of the mayors house, i also saw the way they shot the young gentleman in the street. He was targeted. He targeted him. They shot him in the street and then they were so happy that he died. You dont mention that. You mention somebody spray paint ed somebody, from the other side. They shot a man in the street. They executed a man in the street. A religious man in the street and you dont mention, its not even a story. You talk about other things. The press should be ashamed of themselves. I think the press is actually the media is whats fueling this , moreso than even biden. Because biden doesnt know hes alive, but the press is really fueling this , and theyre fueling it horribly and youre doing a great disservice to your country. Okay any other questions . Reporter [indiscernible] President Trump i may, ill also be speaking with a pastor who was talking to as to your question previously very well involved and respected man and i look forward to that. I spoke to him yesterday by the way, the pastor of the family, as you know, and i spoke to him yesterday and i had a great conversation and i think hes going to be there but im speaking today really im there for Law Enforcement for the National Guard, because theyve done a great job in kenosha, they put out the flame immediately. As soon as they came in, boom, the flame was gone. Now, maybe itll start up again, in which case theyll put it out very powerfully. Reporter what is the latest on tiktok and what percentage you want if any of that deal . President trump well i told them that they have until september 15 to make a deal. After that we close it up in this country, and i said that the United States has to be compensated, welcome penn stated because we are, the ones that are making it possible, and so we should be compensated so the treasury has to be well compensated. Reporter mr. President , do you have an update on airlines and what your administration wants to do to help airlines . President trump well be helping the airlines, yeah. You have to help the airlines, tough business always is. Airlines are a tough business in good times, and were about ready to get back to good times. If you look at the numbers this morning some of the numbers coming out are incredible. We have now the alltime highest stock market. If you take the average, were at a number that nobody would even believe, were doing well. We have tremendous i tell you, we have tremendous what would you say is the best word, the enthusiasm of the country, the enthusiasm of the comeback, the v. If you look at the v, now i think its a super v, and Morgan Stanley of course which is one of the most respected on wall street would you say as they just made a big prediction and you know what the prediction was , right . That President Trump is going to remain president so well have to see. Well have to see , but i dont, i can not imagine anything else because if somebody else got in namely my opponent, your stock markets instead of being records right now, they will crash, your 401 k will be down to nothing your stocks will be down to nothing and we will have a depression like youve never seen before. Were going to have an incredible economy, next year is going to be one of the best years that weve ever had, and everybody is getting a big tax cut. Thank you very much. Reporter [indiscernible] President Trump were working with the Drug Companies on substantially lowering drug prices. Ive put out a favored nation clause, ive signed it. That means we get the lowest prices anywhere in the world, we match whoever gets the lowest, and the Drug Companies are having a real problem with that so theyre coming into see me and we expect to get a very substantial price reduction in prescription drugs which has never been done before. Theyre coming, yeah. This week. Stuart there you have it. Now, usually, the president leaves the white house and addresses the reporters on the white house lawn. This time, he took a motorcade to the airport and spoke to reporters on the tarmac and here is what he had to say. He was predicting a crash in the stock market if joe biden wins the election, and a depression if he wins the election, like youve never seen before. He also had news, not news, but he reiterated that the tiktok deadline is september 15, i think it was. Yup thats right. Stuart so you got to have a deal by september 15 got that one. He also said and i find this very interesting. Yes, well be helping the airlines. I think he said it twice but right towards the end there. Yes, we will be helping the airlines. Lets bring in jeff hartman and by the way the airlines have turned around. Before the president said it, all the airlines were down, now weve got all of them on the up side. Jeff on the right hand side, jeff hoffman joining us now he is the chairman of the Global Entrepreneurship network. Now, we just heard from the president there, jeff, and he says look, we will be helping the airline. I believe your point is, we got to help the airlines because theyre in deep, deep trouble, right . Stu they are in so deep trouble that i think im going to have to buy a thesaurus because im running out of words to describe it. The bailout money, the government bailout money the airlines have now ends on september 30. That is why, and yes, the president said we will help the airlines but theres not a deal on the table yet. Thats why American Airlines said they are going to lay off 19,000 people from september 30 to the end of the year, and i expect the other airlines to follow suit if we dont get something in place quickly. And based on how long it took to finalize the previous Airline Bailout deal i dont think its going to happen as fast as the Airlines Need it. They are already splashing flights. United slashed 2,000 flights recently, so its got to happen fast. They are hurting really bad. Stuart its going to be an in fusion of money over a long period of time. Look i think we talked about this before but lufthansa, the German Airline says no recovery no back to normal until 2024, four years down the road. If thats anywhere near accurate , our government has to keep on shelling out tons and tons of money to keep the airlines going. Yeah, and you know, that creates another problem for the airlines is that theyre taking on huge debt, so after all this we have a slow recovery, revenues dont come back for a while, Business Travel never comes all the way back probably not International Travel for a long time to those levels and yet they are accumulating huge debt. This is not a good set of conditions for the architecture lines in any case. Stuart are the hotels in the same situation . Were told theyre on the brink of collapse 40 of Hotel Employees not working 65 of Hotels Remain below half full are they in the same dire straights as the airlines . They are, and i think they might be in worse separates than people thought. Consumer travel is currently at an alltime low and it was recent survey the ahla, the hotel and lodging association only 33 of americans planned a trip for this summer or are planning one usually thats well over 70 hotels for labor day across the country, only 14 of them have reported a Labor Day Holiday booking, so theres 4. 3 million jobs that have already been lost that the since february in the Hotel Industry and one last thing stuart this tell tale about the hotels, according to that same study 65 of all hotels are operating at under 50 occupancy rate and they have to be over 50 just to breakeven, so you cant run at a moneylosing number monthafter month and continue to let people go. They are in very dire straights right now. Stuart jeff hoffman thanks for bringing us the grim details , i might add what a dire straight situation. Jeff thank you very much sir we always appreciate your input thank you. As you saw moments ago President Trump is en route to kenosha and very soon, were going to take you there, live, on the ground. I want to know, what kind of leadership are people looking for today. Do they want to see in wisconsin , the comforterinchief or the law and order president . First though, country star john rich has got a new show on fox nation. His show debuted last night, episode 2 is all about an immigrant who comes to america and does well. Hes pursuing the dream. I guess thats why they call the show the pursuit. John rich, next, with us. 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. I do what i want when i want it i buy my own rocks and i flaunt it rolling through the streets so stunning you know im a diamond honey im a celebrate this feeling watch me while i break the ceiling you know that unstoppable feeling. So ima show em how im shinin walking bold. Ice on me raining down like Diamond Rings did you know that you can shop online everyday with a virtual consultant . Ask about special financing with the diamond credit card. Im a delivery Operations Manager in san diego, california. We were one of the first stations to pilot a fleet of electric vehicles. Were striving to deliver a package with zero emissions into the air. I feel really proud of the impact that has on the environment. We have two daughters and i want to do everything i can to protect the environment so hopefully they can have a great future. I cant stop worrying. Why cant i sleep at night . How do i deal with all this stress . When did the world get so scary . Hello, this is michael youssef, there can be no doubt that our world is filled with troubles right now. And yet, there is one person who said, i can give you peace that can never be shaken even in the worst of your circumstances. Jesus is the way the truth and the only giver of eternal life and he is inviting you to come and surrender to him. And he will give you unbelievable peace, a peace that seems too good to be true, but its true. Will you come to him . calm inspirational music [female voice] are you looking for a peace that can withstand any hardship life can bring . Visit findingtruepeace. Com to find answers. Again, thats findingtruepeace. Com. calm inspirational music stuart the pursuit with john rich now out on fox nation for a second season, john showcases the pursuit of the american dream. Watch this , please. In my mind, i was thinking that there is a way to my success, and there is a defined way. It isnt going to be me trying to grab things from here just out of thin air to try to build something that there was a direction, there was a path which was there for me. Stuart the show is all about the american dream, and success in america. You just saw a little bit of it. John, welcome back to our show. I think thats a very welcome message, success in america and i think the young lady we just saw there is an immigrant and a chef, is that right . Yeah, thats right. Her name is maneet shohan, and if you ever watch the food network or iron chef any of those kind of shows youll see maneet on there. I thought it was really important to have her on my show the pursuit to show americans and remind americans how important the pursuit of happiness is, to our citizens and to people around the world who want to immigrate here legal ly. Matter of fact, stuart, one week before i did that interview, maneet pledged her citizenship and became a citizen of the United States, and i asked her, so are you a dualcitizen now of india and the United States and she said no. I am an american. She said if it wasnt for america, and the freedoms and the right to pursue happiness that we have, she would have never seen the success that shes had, because in india, it just would not have allowed for what she wanted to do. Stuart john if youd ever like to do an episode on me id be happy to do exactly the same thing, because i am an american citizen, and you know, i owe america just about everything ive got and thats a fact, but tell me. What other stories are you cover ing what other people are you covering . Successful people in america. Yeah, so, Scott Hamilton the u. S. Figure skater who everybody remembers the backflip in 1984 when he won the gold medal his story is just unbelievable and then i actually got to sit my own grandmother down, we call her granny rich, 88. 5 years old, five days before she had a stroke actually i got to sit her down and interview her, shes now passed away but we talked about everything from the Great Depression when she was born all the way through her life to today, her thoughts on joe biden, her thoughts on donald trump, and her thoughts on what it means to be an american, and to work if you have the capability of being useful, and her opinion, you should. She said a very thing that hit me so hard. She said america owes you nothing but it offers you everything. Dont ever forget it. Stuart precisely right. I mean, that was very well put actually. America demands nothing of you but offers you everything. I think ive got it just about right thats good stuff. John we will be watching, thanks for joining us today congratulations on the show, congratulations on fox nation, its a Great Channel if you dont have it you really should get it. I got it. How about that . I got it. John, see you again soon, i hope thank you, sir. Thanks, stuart. Stuart all right, im going to move on to travel and the airlines. Very much in the news. First of all, delta and american are following the flight, the fee change waiver, right . But everybody is joining in right . Everybody yeah so its Effective Immediately for delta passengers across all the u. S. And yes, it does include puerto rico and Virgin Islands, except basic economy fares so thats the exception. Now american is going one further and they are also cover ing flies to canada, mexico and the caribbean, so this follows uniteds lead in doing away with the 200 change fee and this is a big deal for airlines. I looked at the amount of money they bring in because of these cancellation fees. Delta collected 830 million last year, american collected 819 million, united 625 million and for the entire industry, change cancellation fees brought in 2. 8 billion and thats down from the peak of 2015 when they brought in 3 billion but you just heard today President Trump says that hes going to help out the airlines which has turned around these stocks despite the fact they already got a 25 billion care package remember in the first stimulus plan. Stuart that money runs out though i think in maybe late october late september but the president did say we will be helping the airlines. And they need help theres 36,000 layoffs coming for United Stuart yup and all the Airline Stocks turned around when the president said that, all right got it. Thank you. Repeating President Trump is indeed on his way to kenosha, well head there, next for a live report. Well be joined by the rncs hogan gridly, what kind of president are looking for today, comforterinchief, law and order guy, which is it . Well tell you. President trump one of the reasons im making the trip today and going to wisconsin is weve had such a big success in shutting down what be right now a city that would have been kenosha, a city that would have been burnt to the ground by now, and were going to really say hello to Law Enforcement the National Guard and it all stopped immediately upon the National Guards arrival. Stuart thats the president just a half hour ago on his way to kenosha as we speak. Grady trimble is there. Okay, grady question for you. What president did the people want to see a comforter in chief or a law and order guy . Reporter i think they want to see both stuart but weve seen a change at the courthouse where weve been stationed we have a second shot to show you a couple dozen or a few dozen supporters of the president are here right now and they want him to see firsthand the damage that has been done to this city, but i can also tell you, we saw dozens of National Guard members get off of a bus and walk into the courthouse, and they cheered those people on, so they want him to see the damage but they also appreciate that the National Guard was sent in here to protect the lives and property of the people in kenosha. Of course there are also people who say that the president s presence could inflame tensions here, were expecting protesters where these supporters of the president are, to also gather and, you know, well see where that goes but i can tell you also the things are really locked down here of course as you would expect with the president s visit as he is en route right now, stuart . Stuart thanks very much, sir. Now, i want to bring in hogan gidley hes with us, trump 2020 press secretary. Hogan, do you think that the president s trip to kenosha is deliberately provocative . Reporter no. Its meant to heal. Its meant to draw attention to the fact that so many across this country have ignored the violence. Joe biden and the democrats had the Democrat Convention for an entire week and did not mention a single word about the death, the destruction, the rioting, the looting, 90 days, this has been going on, and finally, i mean, this weekend joe biden even said there was still Peaceful Protesters and a couple of days pops his head out of the hidey hole and there was some violence going on and the media finds jesus on the topic and says yes there is violence but oh, its Donald Trumps fault go back and lack at any of this video weve seen in this country for the last 90 days up to and including when people left the white house the another night being shouted down, those are all joe biden supporters that are doing the harassing but a bigger question is what do you think was going to happen . When people like Maxine Waters said get in their faces, tell them theyre not welcome here anymore, caused a scene, you had Kamala Harris saying were not going to stop. We should continue these types of protests, this has been boil ing for quite some time on the democratic side because they dont want law and order. They dont want safety and security. They are embracing the chaos, because they think it helps them politically . Its absolutely grotesque and while our cities are burning its donald trump whose offered federal assets to am could in here and take care of the problem. Hes the one that will protect you, joe biden will not. Stuart its intensely political event isnt it . The president is staking out the law and order territory in direct contradiction of joe biden, intensely political, 63 days to the election. Reporter well i guarantee you the democrats who are focused on the politics of this are going to be very upset at the fact the president is going up there in fact local officials who are all in joe bidens camp are angry about it but look this isnt about politics for the president. Its about the American People. They deserve a government that can protect the people who cant protect themselves, and for too long weve seen democrat controlled cities and these democrat leaders tell the police not to do their job, to stand down, to allow this violence to occur, ruining businesses, ruining livelihoods, actually assaulting innocent americans, beating many of them within an inch of their lives. Its unacceptable, the president understands that and when he goes to wisconsin today, hes absolutely going to play the role of the consolerinchief and try to tamp down this violence but in addition hes going to say were not going to stand for it anymore. We have to have law and order in our city streets the American People deserve that our families arent safe with joe biden right now, and with this president , hes going to ensure that our streets, our families, and quite frankly, our way of life is safe stuart hogan gidley thanks for joining us on very short notice thanks for jumping in we always appreciate it thanks very much indeed. As i look at the markets where are we now . Well weve got green all over the place, nice gain for the nasdac up about 100 points, nice gain for the dow up 84, and a new high for the s p. 3,500, its reached it. More varney after this. Stuart okay the markets showing a lost grown. My opinion is, the most important and astonishing story is zoom. Susan im with you. Up 45 from session highs. Work at home plays, like docusign which is up at 17 at session highs. Twilio and flak. Stuart walmart going headtohead against amazon. I think that is a big deal. Susan 98 bucks a year and cheaper gas at the gas pumps. Look at the stock. Maybe that hassing to youll something to do with the tiktok. President says the deal has to be done by september 15th. Microsoft in line to buy them. Wish i had more time but i dont. Neil, its yours. Neil thank you, stuart. Youre watching coast to coast. Were watching a lot. The least of which the president is going to kenosha, wisconsin. The mayor doesnt want him, the governor doesnt want him but enough people do because he owes it to them and Law Enforcement, that he is watching their backs, that he is protecting them anytime they needed it. This started a fiery debate over republicans and democrats who might be gaming who in this situation. Were on top of that. With the dow inching closer and closer to record territory. Still a few Percentage Points away. The s p and nasdaq both records yet again. That sounds like a broken