Transcripts For FBC The Claman Countdown 20240712 : vimarsan

The last 19 seconds. We are up 52. The nasdaq up 223. So heres the situation. We are indeed about to get an update from the president s physician on the president s condition and breaking news of the timing of his discharge. We will take you straight to Walter Reed Army Medical Center as soon as the briefing begins. We are told 3 00 p. M. Eastern. Its right now, 3 00 p. M. Eastern. We are watching it. Little moving target but we have the cameras set up. The testing storm that whipped through the white house since the president tested positive last friday is shining a bright light on xpresspa at this hour. Tomorrow it will roll out its Rapid Testing site at jfk in new york. Diagnosis in five minutes for anybody at the airport now, passengers, workers and first responders. Ahead of that, you are about to get an exclusive first look, the walkaround at the brand new Testing Center from the ceo who is there on site. A full 24 hours before they open. And the latest entrant in the electric vehicle wars joins countdown. It just went public. The ceo is here. Hes the youngest ceo of a publicly traded company. Hes live from the New York Stock Exchange on how he plans to win in a rapidly growing field race. First, i want to get you straight to the breaking news that hit the tape about 14 minutes ago. Of course, its the president tweeting quote, i will be leaving the great Walter Reed Army Medical Center today at 6 30 p. M. Feeling really good. He goes on to say quote, dont be afraid of covid, dont let it dominate your life. I feel better than i did 20 years ago. Now, the backdrop for the update we are waiting on from his physician is the news that the white house covid outbreak has just sprouted another head here again. This after press secretary Kayleigh Mcenany became the latest white house staffer to announce she has tested positive for covid. Lets go live to edward lawrence, who is at Walter Reed Army Medical Center in bethesda, maryland. We are waiting on the doctors so if i interrupt you, i apologize. Give us what you can tell us. Reporter right now, as you know, doctors are coming out. The president in three and a half hours will be leaving, walking out of Walter Reed National Naval Medical hospital here, going back to the white house. There is a unit at the white house where he can get care there. You mentioned press secretary Kayleigh Mcenany, two of her aides also tested positive for the coronavirus. Its spreading throughout the west wing, that it seems theres a number of folks who have it now. You can see them on your screen there. The spokesperson for the white house who is left there now saying they are following cdc guidelines. Listen. Weve been in the pandemic now for many months. We know what to do when someone gets sick as we reassess, has anybody been in close contact, do they need to get another test, do they need to work remotely. Reporter President Trump giv g getting the latest treatments at walter reed and among those treatments, you can see on your screen, supplemental oxygen hes received over the course of his stay, the regeneron cocktail remdesivir. Dexamethasone. A lot of support for the president. You may be able to hear the honking behind me, spectators, friends of the president , supporters, waving the flag. They want to get one last glimpse of him as he comes out of the hospital after the doctors here give their briefing. Back to you. Liz important to note we just showed the chart there. Regeneron spiking 8 . I do think its important to point out because we are hearing people within the white house saying that it is important to say that of course, the president was able to get some of this cocktail that was done by regeneron. Not everybody can get that. Certainly, it appears at the moment that it is indeed working. Regeneron standing at 609. 37. Big spike today. Let me get to this other piece of the market party here. House Speaker Nancy Pelosi and treasury secretary Steven Mnuchin spoke via phone just a few hours ago on a Coronavirus Relief package. This is what we have been waiting for, which included justifications for, this is how we understand it, various numbers. The two plan on speaking again tomorrow but we do understand that there will be paperwork exchanged between the two later today. That from our fox business washington, d. C. Bureau. But this wall street rally is very much focusing on the ongoing stimulus talks which appears to be helping the markets, since the start of the week with a very nice rally recovering part of last fridays selloff or at least at the moment, all of last fridays selloff. But it is not just stimulus talks. As we mentioned, President Trump apparently on the mend but any moment now, we do expect to hear from his physician. We are waiting to hear about his discharge. Also, indications that jay powell will tackle the economy in a speech tomorrow. The Federal Reserve chair has consistently said yes, the fed is there no matter what is needed but he would very much like to see fiscal response from congress, i. E. , lets get the stimulus package ready. Thats what hes trying to say. But lets talk quickly about this stimulus deal with our floor show traders. Lets bring in jpmorgan chief global strategist david kelly. David, the question becomes will this light a fire under stimulus talks to get something done sooner rather than later . We are still waiting but now that the president and a whole host of people from the white house have tested positive, what are you hearing, what do you expect . I think it adds further urgency to it because what it says is we are not past this pandemic. We like to say we turned the corner here but we really are not there yet. This economy does need further support. We are going to get a very strong Third Quarter bounce but we have only regained half the jobs we lost in the pandemic, so what we need to do is help the economy through the winter months until we get a vaccine. It does give impetus to the talks on both sides but theres still a lot of politics here. I do think we will get i hope we get an agreement in the next few days. The economy needs it. But if not, i think we will get one very shortly after the election and another one early next year, because we are really going to need that support until the middle of next year, probably, even in an optimistic scenario because it will take us that long to crush this pandemic and until we crush the pandemic, this economy is not healthy. Liz well, it isnt. Nothing like experiencing something horrific firsthand to look at it through perhaps a different prism and maybe the president is on the phone constantly with Steven Mnuchin, treasury secretary, saying lets quickly get something done. But let me just shift here to what september was. September was a bit of a difficult month. October, we are several days into it and we begin to ask which sectors might start to look like real opportunities here, david. What do you see . Well, i think we have to take a bit of a pause here. If you look at the pace of job gains, we were about 651,000 job gains in september. My models are telling me Something Like 200,000 job gains in october. We are going to lose on the krens s census workers. There are opportunities here. But the market is pretty high but the economy has miles to go before we sleep here. Miles to go before the economy is recovered. I think there will be particularly in the cyclical sectors, if we get stimulus, i think that helps. But overall, i think people should temper their enthusiasm here because we really do need to get the pandemic under control before this economy is going to be healthy. Liz well, let me tell you what i saw. I just was in los angeles visiting my mom for her 90th birthday. Happy birthday, mom. But one of the things that struck me was that i was walking down the street, now, this was an area, this was south Beverly Drive in beverly hills, hottest area a year ago where the leases im sure were through the roof. I started to take some video because it truly was depressing. Almost every storefront, we can show you some of this, was store will d storefront after storefront either empty or showing for lease. You could come to madison avenue or anywhere usa, gary, indiana, columbus, ohio, and you may very well see the same thing. What are you looking at when it comes to commercial real estate and are they, excuse my thumb as i was shooting that video, but are they going to come hat in hand and try and get some type of bailout . Well, i mean, it is heartbreaking because yes, on the commercial real estate issue, but there are so many businesses people put their lives work into building the business and now its shut down by the pandemic. We talk about supporting workers through this. We need to do that. But we need to support Small Business owners through this also. That of course will ripple through the commercial real estate sector. I think there probably will be some aid, certainly before next spring, i think we will see some aid for this problem once the political season has is behind us, but yes, we need to see that. I think ultimately, we also need to think about how can we make it easier for bricks and mortar retail, at least to compete on a level Playing Field with online because i think there are big issues on sales tax and other taxes which make it difficult for bricks and mortar retailers. I think there is obviously something very nice about the interaction of people and retailers and thriving cities. We want to foster that. These retailers are in trouble and these businesses are in trouble and we need to, you know, protect them through this pandemic so that they are healthier or are able to get going again when we get on the other side of this. Its a real problem. Liz well, yeah, although you look at the headline numbers right now, weve got Dow Jones Industrials up 430 points. Quite a rally. One last question, as we await the president s physicians. We understand that they are at this moment gathering. David, do you see an opportunity where people should be rotating out of one thing and into another . We keep hearing about rotating out of big tech and into value stocks, yet these markets continue to go higher. Quickly, because the president s physicians are assembling. Well, yes. I think International Equities and not the megacap Growth Stocks so much as middle of the road stocks. Theres a lot of value within the market, just not in the best known names there. I think people should think past the pandemic to where we will six months or particularly a year or two from now. Liz got you. David kelly, jpmorgan. Lets listen into the trump physician, sean conley. Then we plan to get him home. Its been more than 72 hours since his last fever. Oxygen levels, including ambulatory saturation and his work of breathing are all normal. Though he may not entirely be out of the woods yet, the team and i agree that all our evaluations and most importantly, his clinical status support the president s safe return home, where he will be surrounded by world class medical care 24 7. I would like to bring dr. Dooley up to review more specifics. Good afternoon. Just a brief update. This morning, as dr. Conley mentioned, the president continues to do very well. His vital signs this morning were notable for a temperature of 98. 1, his Blood Pressure was 134 78. Respiratory rate of 17, respirations per minute, his heart rate was 68 beats per minute and his last oxyhemoglobin saturation was 98 on room air. He does not endure any respiratory complaints. Aside from our evaluation with the multidisciplinary team, has maintained a full schedule, ambulating and working on the white house medical unit. I will turn it over to dr. Garabaldi to discuss therapeutics. Good afternoon. I just wanted to echo the sentiment of what an honor it is to be part of this Wonderful Team here at walter reed. Yesterday evening, the president received his third dose of remdesivir. He tolerated that infusion without difficulty and his kidney and liver function continue to be normal. Our plan is to give the fourth dose of remdesivir this evening before he goes back to the white house and we have made arrangements to deliver the fifth and final dose of his treatment course at the white house tomorrow evening. He continues on dexamethasone and the plan for today is continue to be up and out of bed, eat and drink and work as he is able. I would like to turn it over to dr. Jason blalock, an Infectious Disease specialist and chief of medicine here to give us updates on Infection Control. Thank you. Good afternoon, everyone. First of all, i just want to say what an honor its been to be part of this medical team behind me and to care for the president. Since the president s arrival at walter reed, hes received medical management that remains in line with national clinical, societal guidelines for treatment of covid19 infection. In addition, both myself and dr. Campbell have worked very closely with various laboratories in the area, state of the art facilities, to include rare on obtaining advanced diagnostic testing to really inform the White House Medical Team of both the status of the president as well as his ability to transmit virus to others. Also, we have worked very closely with the walter reed team to ensure that we are looking very closely at Infection Control Prevention Strategies and the right posture so that the president can safely return to his residence. With that, im going to turn it over to dr. Conley, who will answer any final questions. I mentioned it saturday but i would like to reiterate myself how grateful the president and i are to the men and women of walter reed, our colleagues at Johns Hopkins as well as the many federal, private institutions we have received support from. So long as everything continues on the track that were experiencing right now, this time, the president already tweeted out, get him home later today. With that i will take a couple questions. Reporter discharge back to the white house when he was getting steroids and is still on those steroids, medicines that are usually given to Covid Patients who are on ventilators or with low oxygen, so did you overtreat him and if hes still on that medication, how is it safe for him to return to the white house . We send patients home with medications all the time. In fact, yesterday afternoon he probably met most of his discharge requirements safely from the hospital and hes returning to a facility, the white house medical unit thats staffed 24 7, topnotch physicians, nurses, pas, and the unit here, the team here behind me is going to continue to support us in that nature. Reporter what wider Infection Control measures are you taking and how was it safe for him to drive around in a cloth mask yesterday and how is it safe for him now to return to the white house where there have been so many cases . How is any of this safe . So the president has been surrounded by medical and security staff for days wearing full ppe and yesterday, the u. S. Secret Service Agents were in that same level of ppe for a very short period of time. We have worked with our Infectious Disease experts to make some recommendations for how to keep everything safe down at the white house for the president and those around him. Were looking at where hes going to be able to carry out his duties. Office space and ill just say that its in line with everything weve been doing upstairs for the last several days. Reporter sir, can you tell us please on testing, will you tell us when he had his last negative test . Was it thursday, was it wednesday . Do you remember when he had his last negative test . I dont want to go backwards. Reporter for Contact Tracing for people who were around him i understand. The Contact Tracing as i understand it is being done. Im not involved with that. Reporter or was this somebody he pushed for . We try to get patients home and out of the hospital as quickly as is safe and reasonable. Every day a patient stays in the hospital unnecessarily is a risk to themselves and right now, theres nothing thats being done upstairs here that we cant safely conduct down home. Reporter you said 7 to 10 days was a window you would be concerned about. I dont think we are there yet. So do you have concerns about potential worsening or reversal and what are your plans for addressing that if it were to happen . You are absolutely right. Thats why we all remain cautiously optimistic and on guard, because we are in a bit of uncharted territory when it comes to a patient that received the therapies he has so early in the course. So were looking to this weekend. If we can get through to monday, with him remaining the same or improving, better yet, then we will all take that final deep sigh of relief. But as i said, 24 7, world class medical care, surrounding him down there. We are not going to miss anything that we would have caught up here. Reporter physically going to be in the white house and what does that look like . How do you keep him safely quarantined . I wish i could go into that more but i just cant. Reporter dexamethasone treatment . That has something yesterday we talked about that, several little temporary drops in his oxygen and we had discussed that as a team, and elected to start it early in case that persisted or worsened. The potential risks and side effects, we all discussed. We looked at the data and decided that we would rather, you know, push ahead on it than hold