Earlier. The strategy, shop now to be the december delivery rush. The stock took off yesterday and up again premarket about 24. Within the last year, amazon has touched a low of 1600, now 34. Double the past year, modest pullback for the dow, down about maybe 150, remember it was up to 50 yesterday, the s p will be down as well. Look at the nasdaq, powering ahead again on the back of another technology search, 31 again. I have trumped the video, it may surprise you, this is the crowd lining up for the president s event in florida, it is absolutely endless. And to impact largely mass close crowd, the president danced up a storm, he should his apparent boundless energy, the man is back, he is planing two or three events a day until the election. Then theres joe biden he went to ohio, forgot mitt romneys name, said he was running for the senate in question the memory of voters who say they are better off now than they were four years ago. However, the main event obviously, the hearings for judge barrett, the questioning begins, so for the democrats have attacked her because they think she will overturn obamacare. They turned a judicial hearing into an election talking point ion. Dato 22toenat sset 3 min0esutest eachea tha,t whald bhae b ief bs ou tti. Mo tarttat tvot getvot startedtat y cpa iabs tot gin. Gi trt ovy day, t,ts,t, name o o o ton, lovely dayay mae so b its as aiv ae news all of t iman a lov ly day butay b i a yyctiv day, lets get straight to money, big names reporting the earnings early this morning on your screen, city, j. P. Morgan, delta, j j. Lauren so far we have a positive start to the earnings season. That is a great sign that the u. S. Economy is recovering and they set aside less money and reporting higher profits, citigroup reporting stellar numbers, mortgage and Wealth Management doing more business, Johnson Johnson also reporting results, upbeat as they raise the data is under data but they had to stall the coronavirus vaccine, take a look at delta reporting in the last few minutes, i would say it has disappointed a lot of investors they said that they probably will not get back to normal operations until the middle of next year, its still pretty intense for this airline, however, we do have high expectation for the market as a mentor to you since for the first time in a decade analyst have been raising earnings estimate and that is a high bar to clear, okay numbers, its not good to cut it. Stuart not going to cut it, okay is not okay. Got that. Lets get to amazon and apple, very important today, prime day kicks off and Apple Unveils the iphone 12, that is hours from now. Mike murphy is with us. First of all lets talk apple, Morgan Stanley says this is good to be the most significant iphone event in years. In my opinion, they better not disappoint, what do you say . Good morning, i agree with Morgan Stanley analyst, she is one of the best in selling apple, here is the thing, the disappointment may come today or week, i promise you, almost guarantee you people will go out and buy the new iphone. As an apple shareholder, i want to continue to own the stock, they may be off by a couple of percent one way or the other or they may be by a couple of percent one way or the other but that does not affect my longterm thesis for apple, people are buying their phones and will continue to buy them, im in the camp that 5g is a game changer, i think more and more people will come out of the pandemic and go out and buy the new iphone. I think its a great number for apple but either way its a company you want to own. Stuart got it, how about animals on, there some analyst that predict 10 billion worth of sales in total, 10 billion, is not big enough, is not successful enough if they had that number to get the stock price to the record high which i think is around 3550. We talked about it a lot on your program, yes it is enough, the amazons, the apple, the big tech are going to take out their old highs and tak and hit new hs investors where you want to be. When you look amazon what i find really interesting, they are now changing the entire way consumers shop, they are saying were going to tell you to go out and start shopping today, you shop when we tell you to. If they can really control Consumer Behavior like this which i believe that they can, that really gives them a lot more leverage that they can pull even downstream and things like groceries where they really want to try to make an impact, this is really tough to change Consumer Behavior. Are they starting the holiday selling season earlier and earlier tempting you to shop early so you dont get mixed up in the late december delivery rush which occurs every year and really strains the delivery services, they just want you to shop earlier and earlier. Absolutely, when they promise youre going to get your gift one day or two days before christmas, their snarls and shipping and they have to pay up for the shipping to come through their promise to get you the gift, if they can get people to start shopping today in the middle of october, that is a massive when but also if you dig down into the little bit, and now tells you that amazon has the ability to tell you when and where you should shop and you dont know where the next lover is going to come from but they will continue to pull those lovers. I think this is a big move for amazon, there is no question in my mind that there is going to be massive amounts of product sold on their site today. I think you are right, thank you very much indeed, going to turn to susan because i saw some of these deals, you had a list yesterday, i dont know where you see this but they got a 70inch tv for less than 500. Susan to to sheba television, we are expected to top last years to have it entered 7 billion in sales for amazon during the prime day during the 48 hour extravaganza, they expect 10 billion in sales amount might justify the levels were seen in the record levels for amazon stock. Stuart 70inch tv, that the jumbotron. Susan we need as our eyes get older. Thats for me. Stuart lets get to the broader markets, why dont we. We are real close to record highs again, im looking at the screen now, were close to record high. Susan we are talking about striking distance, the brighter s p 500 benchmark just a little over 1 away from record highs, the nasdaq after the best day since april, now just within a striking distance, one and a half or so in the dow, for their way has Left Technology around 2. 5 , offering new record highs and all within a whisker of breaking new records just three weeks from election day and remember the gallup poll last week on a 56 of registered voters feel better off now than they did four years ago, i think the stock market record over the past few years may have something to do with the better feeling. Stuart open up your 401k, most people have stocks in their 401k or ira. If you closed at record highs, you made some money out there. Susan let me ask you about the rally that we saw on technology plays yesterday, besting for the nasdaq is april, does that suggest, if you think about it technology has been in the eye of democrats whether to be broken up or more regulated, the fact that they are rallying, does that mean investors dont think theres going to be a blue wave and a democratic sweep. Stuart i dont know, i cant answer your question, i think investors are passionate to believe in big tech that American Technology companies dominate the scene and will dominate the new economy when we emerge from the virus, thats where they are placing their money. Susan some on wall street say there might not be a blue wave. Stuart a blue wave, whats a blue wave, biden wins or the democrats sweep the white house and the senate and the house, i cannot see how that would be good for the market, i cannot see it. Susan technologies trading like its not going to happen. Stuart yes it is, apple is up, amazon is up again, facebook, alphabet, netflix, premarket all up, next case, for weeks joe biden has avoided questions on packing the Supreme Court. Now he is sort of answering the question. Watch this. Im not a fan of Court Packing but i dont want to get off on the whole issue. I want to keep focused. Stuart not quite a fullscale answer but we are on it and will tell you more about it, questioning is now underway in date to the confirmation hearing for judge barrett, it could get ugly, will bring you the latest as the questioning proceeds. Look at futures again, down for the dow, down for the s p but the nasdaq up a quarter percent. Varney continues after this. When i was in high school, this was the theater i came to quite often. The support weve had over the last few months has been amazing. Its not just a work environment. Everyone here is family. If you are ready to open your heart and your home, check us out. We thought for sure that we were done. 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Stuart if you are just joining 15 minutes to go for the opening bell, were looking at another rally in tech stocks, not too good for the dow in the s p but the nasdaq will be up, weve seen a lot of volatility recently, tell me more about this. Susan a strange stocks rally in volatility goes up at the same time, traditionally the opposite happens, volatility usually goes down when theres confidence to buy a lot of stock usually during a stock rally, yesterday was a strange phenomenon and when wall street saw the tandem move, thats a suggestion that there is something going on and the option market where you can buy a stock at a future price and future date and the call options and usually theyre much cheaper to buy than 3000 amazon stock, either theres a big whale in the market, that is the thinking someone pocketed like softbank in august in the market or a lot of youth traders on the robin hood apps in the day traders find the cheaper options and not the stock. We saw this type of pattern back in august an early september, that resulted in a 10 drop afterwards when people quickly came out of the market, so for theres been five days when the volatility index rose alongside a rally of 1. 5 and the s p 500, that is the most since 2003, something funny is going on according to bloomberg. Stuart iva funding is individual investor, the robin hood guys, the schwab. Susan that appointment benefits. Stuart im glad youre here to explain. Judge. Faces question starting today, so far, the democrats are making this all about healthcare. He made it clear he wants his Supreme Court in this nominate to join him and 11 at the Affordable Care act. They are asking the Supreme Court to strike down the Affordable Care act. Overturning the Affordable Care act has been the most important policy objective of the republican party. We tried time and time again to overturn the Affordable Care act. President trump promised only nominate judges who will get rid of the Affordable Care act. Stuart joining me now the great senator from indiana from the great state of indiana, republican no less mike braun, heres how it seems to me, the democrats have turned to judicial hearing into an election talking point session, and my offline here . You are right on the money and the sad thing is, we are susceptible in tone because theyve got every republican from the senate covering. When i came in, actually had a plan in my own company covering that, no caps on coverage, they get to stay on until their 26, we as republicans have been apologist to the Healthcare Industry another taking us to town. Last week Bruce Westerman in the house and i rolled out the fair care act which is the most comprehensive look at doing what we shouldve done back in 2010 to have an answer against obamacare, they think they can win with us politically, Amy Coney Barrett is too good of a judge, she is in with her credentials and in the process gluten, they think they got us on other issues. Stuart mr. Senator, im sorry i got it cut the shorts because we have a sound problem, we cannot quite hear precisely what you gotta say, we would like you to hear what you gotta say but we gotta cut it short. Thank you for getting on camera with us this morning. We will be back i promise. I got this for you, the New York Times reports, there is a report and is is a pandemic in america will be over far sooner than expected, whos got this. Susan yes because of operation warp speed, the fact is the vaccine has ever been approved is four years but the New York Times out of all publications is saying we should get a Company Faster than that, they said sometime in the next three months according to the Health Experts that they are quoting the fda will likely begin granting approval to vaccines in the work, that is to expect the halting of the advanced trials of the vaccine but you saw pfizer, moderna and according to the New York Times, they are saying 11 billion have been put into seven vaccine candidates and at least one will prove at least 50 effective at preventing infection, maybe we will get to this a lot faster. Stuart im utterly shocked and stunned that is the New York Times essay we might get through this faster than expected because of the warp speed operation by President Trump, i bet they never mention President Trump. Susan they dont but they talk about the fda, the administration, theres a 75 90 chance that at least two will win approval by early january, early january. Stuart alex azar, health and Human Services secretary on this program today and the 11 00 oclock hour, talking about the New York Times indirectly praising their administration, but the flags out ladies and gentlemen, that is very unusual. Now we have a new study that says just how much the pandemic is costing us, i think lauren, you got a dollar number what is it. Lauren 16 trillion, making it four times more expensive than the financial Great Recession in 2008, 2009, let me tell you about the study, its from harvard professor as well as Larry Summers who is the top Economic Advisor to president obama, they called the coronavirus, the greatest threat to prosperity ever, i challenge it with three points, point number one, they dont take into effect this fiscal stimulus that we have received and might get again, they dont take into effect all the positive treatments and vaccines that could be coming in the lower death rate, yes infections are up but not as many people are dying as they were in the beginning of the pandemic. Stuart got it, well done. Check the market, opening up at about eight minutes time down for the dow and down for the s p and up again for the nasdaq. Back after this. Your journey requires Liberty Mutual. They customize your Car Insurance so you only pay for what you need. Wow. That will save me lots of money. 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