Transcripts For FBC Varney Company 20240712 : vimarsana.com

Transcripts For FBC Varney Company 20240712

Bouncing back a little. Remember, please, this is how we started out monday. It ended badly. All right, walk into a super market just about anywhere in the world and several aisles will be dominated by proctor gamble. Here is the news. They are doing very well. Profit is up, revenue is up, outlook outbeat and p j, one more example of companies turning in Strong Financial results and the stock is up. On the campaign trail, joe biden stays home. No media appearances for 4 days. How convenient. Hes safe from pesty reporter questions and gaffes and fatigue. Hes preparing for thursdays debate and for the rules for that debate have changed. Theyll be a mute button to kill mike mic of candidate if he he running over time. So keeping it out of the debate is in my opinion a form of bias against trump. Another development, in pennsylvania, the Supreme Court says they can keep counting mailin ballots for 3 days after election day. That means the delayed result in a swing state, dispute guarantied. I dont think thats good. President trump goes there today. Kayleigh mcenany will surely have something to say about that. Shes on the show so is Florida Republican rick scott, real estate there taking off and what happens if biden wins . By the way, we will also show the iphone 12 and all that it can do. As we said the president goes to pennsylvania today and Varney Company is about to begin. Note stuart i like it. Upbeat and positive and President Trump, well, he was on fox friends moments ago. Listen to what he said about thursdays debates, roll it. Well, i think the whole thing is crazy. I had problems with them 4 years ago where they stifled out my mic during my conversation with crooked hillary. They muted my mic. They did this to me already. Actually the interesting thing, they said if you let him thought he will lose train of thought because hes gonzo. There are people out there that could be neutral. Walker cannot be neutral at all. Stuart coming up in the top of the next hour you will get my take on precisely what the president was just saying. On the world of money another big day of earnings report. Two big names. What do we have . Susan p j reported better earnings, better than initially expected raising Sales Outlook for the rest of the year and profit bottom line as well. Home cleaning products like mr. Clean are cleaning well. We have insurance providers travelers better than forecast, strong reporting period so far for Corporate America and we are talking about 80 of the companies doing much better than anticipated. Stuart very strong earning season. Susan high bars. Highest mates. Stuart ubs, we didnt cover it yet but we will. The profit just about doubled. Susan doing better than wall street which is surprising. Stuart i like this. I like good news on profits, always did. Thank you, susan. Bring in market watcher mike murphy. Mike, i know you think stocks are going to go up, maybe to new highs, what are you buying now or are you waiting until after the election . I want to know are you buying anything now and what is it . Mike we are putting money to work right now in disney and also in walmart. We are looking for any pullback in big tech because thats the sector thats a trade thats kept on giving, you get pullback and big tech where theres growth and you can put money to work there but i think its very important, stuart, to point out that as professionals we are receiving money on a monthly basis and allocating money on a monthly basis. Biggest risk for viewers at home is say, i want to pull out of the market because of the election as if some point they will get a knock on the door and say now its time to get back in. The biggest risk is panicking and selling out. You can trade but the biggest mistake you can make is trying to sell and tieing the market around an election or any other event for that matter. Stuart well, i was thinking about selling. I guess youre telling me that im doing the wrong thing. If i were to sell now hold on a moment, if i were to sell now, i would pay Capital Gains taxes, i made a profit, if i wait and sell next year, i will probably pay much higher rate if biden wins. Thats an argument to do a little bit of selling now. Mike possibly, you dont know if taxes would be approved next year. I think thats a big leap there but also not sometimes people will sell a winner like say a microsoft and like for Something Like a boeing. [laughter] mike if you have something thats working, i wouldnt sell it just because taxes may two up. Stuart 15 love to you, murphy. Youre quite about microsoft and boeing. What about uber, i know you hold this thing, you held it for a long, long time. Are you going to buy anymore . Micheal absolutely. Uber about a week and a half ago was looking great up around 37, 38 a share and since pulled back now to 33, 34dollar range. Absolutely. Last week, stuart, uber came out with a release around their out of home advertising so they were they talked about expanding car top advertising on all of their cars out in the United States and international into 20 markets in the shortterm. This is one of the major ways that uber is going to be able to continue to generate more profit from the 106 or 108 million unique users that are going there every single month. So uber is a company that i still believe, we own it and i buy it at pullback, only 40 or 50 or 60. Stuart got it, mike murphy, thank you very much, indeed. Always good. Now what the big issue was stimulus. What do you have to say . I thought the price tag was probably the most interesting part when he said you can two above nancy pelosi and the democrats are proposing. But i want to do it even bigger than democrats because this is money going to people that did not deserve what happened to them coming out of china. We will see whether or not she changes her mind, but we want to do because people need help and they should get help. Susan democrats and nancy pelosi are pushing 2. 2 trillion bill. Dont forget that she and treasury secretary mnuchin made progress they said in stimulus talks yesterday and theyll speak again later on today, but, look, we have deadline, why dont we have a deal already. Is this because Senate Republicans are blocking because we cant blow out the budget and we only want skinny bill. I wonder whats the delay is . Stuart i think its politics and who gets the credit. Both sides are going to say, look what we did for you, this is us. Both sides want to take the credit. They are going to position themselves to get something tone and take the credit themselves, thats a very difficult susan how much is Unemployment Benefits and stimulus checks . Stuart two sticks points and that would be aid to badlyrun democrat states and also liability for companies which bring people back to work. Thats a sticking point. Those two are big sticking points. They dont have a deal at this point involving these two things. Susan its not the gop way to blow out the budget as well. Thats all im saying. Stuart we have John Borrasso on the next hour. We will see. Susan, good stuff, thank you. Check futures again, please, because we are going up. Remember, we are we are a long way down yesterday, this is a modest bounce from yesterdays big losses. Studies show bidens tax plan could create a tax rate as high as 62 in california, 60 in new jersey, 58 in new york. Would you stick around for that . We have more on it coming up for you. Peaking of democrat states, Governor Newsom, california, cuomo, new york, they would not allow any distribution of a vaccine unless it passes their own independent review. Watch this. Governor this vaccine plan will move by trust. Stuart to me thats an entirely political situation and political position to take. We are going to cover it for you next. We will be back. So youre a small business, or 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 theres news on vaccines. Well, this is important news. It comes from moderna. Susan they could get emergency authorization for covid vacseen as early as december similar to pfizer timeline. Pfizer said that emergency use could be authorized by late november in their case. So they are just weeks apart. Moderna says the emergency authorization is only possible, though, if they can get positive results in november from large Clinical Trial underway and also why government authorization probably wont happen for everybody until early next year, for everybody, thats for everybody, provide 100 million doses or so for vaccine use in the u. S. And if you factor benefits of moderna, the ceo says it comes to 25 a doze for vacseen. Stuart subsidizing from the government, from the taxpayer essentially. They will get it soon. Susan yeah. Stuart more on the virus i especially from europe. Covid cases are on the rise. Ashley, can you tell us which country is restricting in what way . Ashley a lot of countries with restrictions. In belgium, all bars and restaurants closed for 4 weeks. The country says it could soon be overwhelmed by, quote, a tsunami of new infections. Italy is introducing a lot more new restrictions including potential curfews, limiting public gatherings and Online Learning now for older students. The Czech Republic which has the highest infection rate on the continent is now considering a full National Lockdown. In germany new infections have hit record this past weekend, now the federal government is investing close to 500 million to improve ventilation systems in public buildings. Poland is opening up a field hospital, National Stadium as new infections risen to 10,000 a day. The country of whales announced a shortsharp twoweek National Lockdown beginning friday, starting tomorrow night and for the next 6 weeks the republic of ireland is asking people to basically stay at home, those who can work from home, must do. Also nonessential businesses are to close and virus deaths at 3month high in hardesthit areas, travel penalties and westminster wants to go to tier 3, severe restrictions, manchester says not until you give us money for workers who will be affected. Some internal strife in england as well, stu. Stuart massive new restrictions across the continent. Thats something else. We need an expert and we have got one. Infectious disease expert dr. Matt mccarthy. To do lockdowns work . Doctor we will find out which lockdown works best. Its a Circuit Breaker lockdown. What that means rather than doing the openended lockdowns which they know no one has appetite for, we will do the very specific timed out lockdown where instead letting the vaccine play out, we are going to do a twoweek short lockdown and see what happens. Thats the term that i want your viewers to be familiar with which is a Circuit Breaker lockdown. Thats whats heading into europe and maybe coming to parts of the United States. I hope not but we know theres no appetite for openended lockdowns anymore. Do they work, we will find out. They absolutely were necessary in certain parts of the United States back in the spring. In new york city you ask any doctor who Practices Medicine whether a locktown was necessary, it absolutely was. The hospitals were overrun and we didnt have the Testing Capacity to determine whether lockdowns were necessary all over the country, so in some ways over aggressive with shutting things down. That wont happen again here. Stuart got it. Governor an true cuomo, new york, gavin newsom in california are both casting down on a vaccine. Listen to this. This vaccine plan will move at speed of trust, confidence that we are not rushing for judgment. We are going to put together our own group of doctors and medical experts to review the vaccine and if they say its safe, then i will go to the people of new york and i will say its safe. The cdc, george, and the fda doesnt have any credibility. Stuart doctor, do you think there needs to be an independent panel separate from the feds to investigate a vaccine . Doctor lets talk about why this is happening. I came on your show in february, the cdc has does not work, this is going to be a disaster and it was. The cdc also didnt recommend masks throughout the month of march, so they burned a lot of credibility with the general populist. The fda hasnt provided emergency use authorization for drugs that we now dont work and test that is dont work and perhaps worst of all back in august the head of the fda stood at a podium and look intoed the eyes of the camera and American People and said we we have a breakthrough treatment which decreases deaths by 35 and that wasnt true. And i can tell you as i was watching the press conference either this guy is getting manipulated or he doesnt know how to read the data and that really put things back in terms of public trust, so now what you see are the Public Confidence is dropping in a vaccine, its 50 or less. So the states are going to have a Huge Investment to actually get people vaccinated. So we are talking about moderna and pfizer, those vaccines have to be stored at sub zero temperatures, multiple dosages, they are talking about potentially rolling out the National Guard to get this right. So, yeah, i can understand why they want to have an independent group do a check on the fda. Its an unfortunate reality but i dont blame the governors at all. I can tell you before i recommend vaccine to patients i will be taking a look as well. Stuart lets talk masks. Twitter removed scott atlas because he questioned masks. Is the science settled on masks . Doctor let me be very clear on this. I support the use of masks. I recommend masks to everyone, but i saw dr. Atlas tweet and it made me smile because he put he put out the comment, hey, these things dont work and i saw this as a great opportunity to discuss what we know and dont know about masks because theres still a lot that we dont know. The part that was concerning to me is that the second part of his tweet was using outdated information. It was stuff that we have known isnt true for months and so i thought to myself, you know, i hope this guy who has got the president s ear is using better information to counter the evidence on masks than this. The truth is we dont have a randomized control trial yet. The truth is we dont know exactly how masks work if you dont wear them properly, if you wear a gator, if you dont wear eye shields, if you dont stay 6 feet apart from people. Theres wonderful robust inquiry trying to figure out exactly how masks work and theres a fine line between misinformation and minority opinion. I did not think they should be removing the minority opinion when we dont know the answer. Stuart fair enough. Doctor, thanks for joining us. Objective opinion, we like it. Thanks very much, indeed, we will see you soon. Look at the market, modest bounceback from yesterdays losses. Up about a 100 on the dow. We will be back after this. 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. 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I would say for people who have older iphones the most important features has to be 5g, you want a phone thats future proved. If youre going to invest a thousand dollars or 600 on a new phone, you want to make sure its going to tap into the fastest networks, the iphone 12 and iphone 12 pro supports any network thats rolling out 5g right now and if you want the fastest speeds the iphone 12 is what to get. I prefer the pro over the regular 12 for other reasons including the camera. You will get 5g on both. Stuart 1 to 10, 10 knockout winner, what is the 12 according to you . Sure, our review just went live and we gave it an 8 out of 10 and we loved the cameras, we loved the 5g, new ceramic shield thats built to make it more drop resistant. The reason we didnt give it perfect score is you only get 60 gigs of storage, android phones have twice as much. A stepback in terms of the rating. The iphone 12pro we gave 9

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