Should be defunded, the left is worried that the president may rally the countrys morale and they cannot have that, Speaker Pelosi, treasury secretary mnuchin, they will talked again about the stimulus plan, the far apart on the size of the package but they agree on extending emergency payment, they are still talking, nbc held a town hall for joe biden last night, no questions about packing the court, offering statehood to puerto rico in washington, d. C. , who the democrats were put on the Supreme Court, it really was soft ball city, maybe that changes in the Vice President ial debate tomorrow night, mike pence faces off against Kamala Harris, plexi glass screens will separate them. 910 minute segments, the president s leadership on covid and mike pence pushing hard on the issues, this could be the turning point in the election which is four weeks away. All of that is politics, now money, big gains across the board monday for the stockpackas morning, the dow industrial looking at 130point gain, the s p to the upside but the nasdaq shows a small loss could be profit taking and technology this morning, politics, money, that is what we do. Varney company is about to begin. I learned so much about coronavirus, one thing that is for certain dont let it dominate you dont be afraid of it, we are going to beat it, we have the best medical equipment, the best medicines all developed recently. With the greatest country in the world, were going back to work and we will be out front as a leader i had to do that, i knew there was danger but i stood out front, i led, nobody that is a leader would not do what i did. Stuart the man is rally in the morale of the country, the president s health is front and center, he spent his first night back in the white house since friday. Ronny jackson is here with us this morning, former white house physician. Doctor, the president says dont be afraid of the virus, dont let it dominate your life, hes being called irresponsible and worse for that. At do you say. Is absolutely right, the president has done a fantastic job and been walking the line for a while doing what he needs to to protect our country and continue to inspire confidence in the American People, he has to do that. I appreciate the fact that he has been a great leader and hes accepted a certain amount of risk in order for us to keep our economy up and running, if you just succumb to all of this and completely back down and locked us down for a long period of time i dont know if our economy would recover, he has been out there and out front and encouraging us to get back to work and get back to school and do it responsibly and put himself at some risk in doing that and ended up with a coronavirus, im extremely happy he is doing well but i appreciate his leadership but i think hes the reason our economy is coming back right now because of the leadership you shown on this. Stuart hard questions, was a Supreme Court rose garden ceremony a super spreader event as many in the media claimant to be. I dont believe that to be the case at all and i dont think theres any evidence. The press will take anything they can and they will spin it and try to make something out of it. I think once again the president is doing the work of the count country, he is nominating somebody for the court which we want him to do and i just dont see that, that is just a talking point from the press and i dont think theres any evidence of that. Stuart lets get to the medical side of things, president trumbull received his final dose of gilead remdesivir at the white house instead of walter reed, listening to the reasoning behind that. Roll tape. We try to get patients home and out of the hospital as quickly and as safe as reasonable. Everyday patient stays in hospital unnecessarily is a risk to themselves and right now there is nothing that is being done upstairs here that we cant safely conduct downhome. Stuart heavy criticism because he left the hospital, theres a defunded walter reed for heaven sake. Is that a good reason to leave the hospital, you can do things right in the white house. Absolutely, they made the right call given their initially because the iv medications are needed to monitor them closely and checkers labs in his liver function in all these things to make sure he has a reaction to the medicine. Theyve given in multiple doses just now, they proven that he is Getting Better not worse, nows the time to let him to go back to the white house and get back to work from the white house, we have the facilities there, it can give the iv medication continue to monitor him and if something were to happen and he were to go the other direction, they would be all of our instantaneously and hed be back where he needs to be, this is the right decision doctors doing a good job treating him and i am encouraged by his progress. Stuart the white house has been using abbott labs rapid vibran s test is called the id now test and you get the results back in 15 minutes a Company Claim 91 positive rate, is at issue 91 positive rate, is at issue in testing at the white house. I dont think so, i think that test picks up most people that had a positive test in symptomatic infection, i think some of the other test that they are using with the deeper nasal swab, they are more sensitive in picking up the viral rna, a lot of times its a dead virus at the pick it up, the test at the using of the white house is good for what theyre doing and vide the people that have active infection, im pretty confident that that test is doing its job. Stuart doctor, we appreciate you being with us this money, im sure youre pretty busy but they give or take a timeout talking with us. Check futures, because we are looking good again, up about 100 for the dow, susan is here, history shows investors brush off president ial problems. Susan i think y that yesterday, going back over a century, history has shown the stock market are quick to recover from any president ial health shock, using that this time around s p 500 and the biggest single day jump yesterday and almost four weeks, going back two months, lets take a look at President Trump, hes not the first sitting u. S. President to contract a lifethreatening disease we had Woodward Wilson suffering and recovering from the spanish flu, stock market recovering four days back in 1919, eisenhower heart attack in 1955 and intersected with the stock Market Correction down 10 took more than two months to recover the losses off of the shock tragedy of kennedys assassination, Ronald Reagan was also shot in 1991 but history shows a stock market do remain resilient to shock coming from the oval office, using the turnaround in the premarket with the futures already this morni morning. Stuart were up 147 right now, thats the money side of the equation, the political side, can the president leave the morale of the country to get us better. I got that, lets bring in market watcher mike murphy, you have consistently said the market will keep going up, are you still saying that now for weeks exactly to the election. Absolutely, good morning, i think if you look what is gone on, if you have grown out last week, what if President Trump comes down with covid, i may have taken a pause, definitely thought it could hit the market harder than it did, the underlying fundamental the United States and economy coupled with the fed that is going to be accommodated for the foreseeable future we have a 5 pullback from where we were a few weeks ago integrate him to put investors to work ahead of the election. We will be okay if biden wins and we will be much better off as investors if trump wins. Stuart do you see new highs for the dow, back well above 29000, do you see that happening . Absolutely, if you look at it, there are still many Quality Companies like once again talked about that have hit new highs like home depot and nike, when you take a step back and look at the other Companies Like boeing, walmart, you look at walmart versus amazon, there is a lot of room for these companies to run and look apple and microsoft that have roughly 20 to get back to where they were trading, yes i think its barring any major shock and i would not put the election and that, barring any major shock from outside we will hit new highs from the year ended i think 2021 especially under a Trump Presidency is shaping up to be a great year for the market. Stuart one quick point, if it was a contractor, disputed election i think the market has a problem. If its a clean sweep by the democrats, the white house and the senate, i think the market has a problem. Would you agree with that . I would especially on the first point, if we have added uncertainty as to when a new leader will be picked or whether trump or biden wins, thats going to be a selloff in the market but pick a number, 5 , call it 10 , it will be resolved, for the viewers watching at home, it is not something that you want to go to cash now in the event that unlikely probability that Something Like that happens because you are talking about a very quick trade in the overall market. Thats why i would look at the fundamentals in the fed and stay invested in this market and go along for the ride. Stuart we hear you mike murphy, thank you for being with us. One more time look at the futures, where are we going this Tuesday Morning, the answer is up for the dow, 150, up for the s p, modest gain, sevenpoint, slight loss on the nasdaq. Washington post Jennifer Rubin on this extraordinary tweaked, calling on congress to defund walter reed because its a Public Health hazard, she is not the only one in the media melting down after the president s departure from walter reed, wait to you here with the rest of them have to say, we have a new wall street journal opinion piece claiming that joe bidens tax plan would actually stir economic growth. Im very skeptical that we will take a look, and we have confirmed White House Press secretary Kayleigh Mcenany will join us today, shes in the 11 00 oclock hour in the latest white house official to test positive for the virus. We will hear how she and the president are doing, Varney Company just Getting Started. You know, malcolm audibles got more than audiobooks. Of course, podcasts. Originals. Bestsellers. Future bestsellers. Sleep stories. Malcolm the most inspiring minds. The most compelling stories. All in one place. Audible. Smooth driving pays off with allstate, the safer you drive the more you save you never been in better hands allstate click or call for a quote today 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. Discover if a reverse Mortgage Loan is right for you. Use it to eliminate monthly mortgage payments and increase cashflow, create an emergency fund, preserve Retirement Savings and more. Call now for your free information kit. That first reverse Mortgage Loan meant nellie could stay in the home she loved so much, with memories that meant even more. A reverse Mortgage Loan isnt some kind of trick to take your home. Its a loan. And its taxfree cash just when you need it. Its about making your retirement better. Call today and find out more in aags free, noobligation reverse Mortgage Loan guide. Access taxfree cash and stay in the home you love. Of course, you can use it to pay some bills, cover medical costs, update or repair your home. But best of all, it eliminates those monthly mortgage payments so you get more cash in your pocket, every month. Learn how you can use a reverse Mortgage Loan to cover your expenses, pay for healthcare, preserve Retirement Savings, and so much more. 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 maybe it could mean as muso youre a small bor a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Stuart they are talking about a stimulus plan, we need to know the latest because it will probably affect the market. Susan is been helping the market nancy pelosi and Steven Mnuchin will speak again after our discussion on monday after second stimulus plan political reporting that Speaker Pelosi has been characterizing the talks is difficult and slow though they have agreed to Exchange Additional documents which ethic is positive and chosen talks are ongoing and President Trump pushing for second stimulus plan of both sides want to offer more for the weekly Unemployment Benefits and hundreds of billions of dollars of state and local government that democrats want a second 1200 check to american citizen can run the ppp something that the republicans have not gotten alongside with but democrats are saying 2. 2 trillion and republicans are 1. 6 trillion, a bit of a gap to work out but hopefully Mitch Mcconnell will step up with the vote as well. Stuart 600 billion of gap, but not unbridgeable before you go to an election in four weeks. We are dealing politics here, they want to spend the money, come on. Anyway you got more bullish sentiment from Morgan Stanley. Susan i think this is good for the market, the strategist at Morgan Stanley said this year may not be as strange as it might feel at least when it comes to the stock market and that despite a pandemic and everything else. In fact they were at start with the new Economic Cycle with patterns correlated to past market recoveries, doesnt that sound positive, young the weakening u. S. Dollar in rising Inflation Expectation and stronger performance in emerging market, that all points to possible recovery in the global economy, what you betting that he recommends to bet against the long buying, you dont need all the safety with 30 year treasury basically yielding nothing and by value overgrowth and prefer smallcap and big stock in he thinks that the economy will recover. Stuart bottom line, a lot of major people on wall street are saying that the market looks good to go up more, for all different kinds of reasons, i think thats what were getting. Susan the take away no matter who wins the white house is positive for the 401k. Stuart we have a headline in the wall street journal, in the opinion section, riding tax plan would stir economic growth, call me a skeptic on this but anthony chan former chase chief economist is with us now. I am skeptical with the 3 trillion tax increase will help the market but what do you think. The reality is i been an economist for 40 years and always hating taxes for the last 40 years but the reality is we have bills, we have a National Debt of 21 trillion and if you add Social Security and the government, thats another 6 trillion, when you add those things, when we spend more money we have to pay for it. But no candidate democrat or republican talking about anything they will pay for what theyre going to do, theyre talking about not adding that much to the debt, with regard to your direct question, the answer is quite simple, there are tricks, if you all of a sudden raise taxes but you try to spend more money into areas or groups that have high margin to consume, you can minimize the negative effects of taxes, we know if you raise someone taxes you create disincentive for Economic Activity, what does the biden tax package do, they spend a lot of money into the highmargin hard to consume areas are giving 3000 for child tax credit, that certainly is an area that will lead to a lot more spending, and the best of all possible worlds, i would love it if taxes were 0 because that would really boost Economic Activity but there are tricks to minimize that, the last thing i will say, if you look at the tax revenues under the biden plan it always federal tax revenue to 19 of gdp, that is a little higher than it was under the trump tax cut so 16 and much lower than the simpson tax plan that had tax revenue, federal tax revenue going up to 21 , it is a middleoftheroad type of increase in federal taxes, with all the tricks and the fact that its moderate, thats where they get a number like that. Stuart in 30 seconds, can you confirm this, you do not care who wins the election, the market is going to go up in the economy is going to look good, will you say that . I will say that, i think no matter which Political Party wins, i think both of them want the economy to grow, they will