Transcripts For FBC Varney Company 20240712

The swing state of pennsylvania. How will voters react one week from the election . Its the final sprint to november 3, joe biden will leave his house to attend to events in georgia and when questioned about his relaxed schedule, he said every day is a 12 hour day. The president keeps up eight torrid pace heading to three states today pulling in huge crowds with tens of thousands attending the three events in pennsylvania yesterday and by the way, 62 million have already voted, 20 million in person and 40 million by mail. To the markets, way down yesterday, closing down 650 with the most modest of bounces this morning no bounce at all actually the dow jones will be down a couple points. Lots of corporate profit reports, they remain strong and we will bring in the highlighted a moment. The big earning report comes as afternoon. Microsoft reports and that may set the tone for the markets. As always, a big show for you with the president on the campaign. Rachel campos who wants her nine kids in school in the classroom, please mercedes, why didnt cnn and nbc cover the elevation of justice bear to the Supreme Court . They did not. Varney co. Is about to begin. Stuart we will start with breaking news on the rights and folding over night after an armed black man he was armed with a knife, he was shot and killed by police in at least 30 officers were injured with one officer run over by a pickup truck. You have to watch this. He hit a cop zero my god, he hit a cop stuart it was a female sergeant runover. She is in the hospital with a broken leg and other injuries to this started when Police Responded to a domestic call about a man wielding a knife. He approached to officers of reportedly with the weapon. They ordered him to drop it and thats when officers fired. They have since been taken off duty. Its a developing story and we will cover it. We are precisely one week from the election, 62. 6 Million People have already voted and thats 43 of the total voter turnout of 2016. President trump made his pitch to voters during his three stops in pennsylvania hammering joe biden in the last debate while admittedly transitioning away from fossil fuel. Watch this. Joe biden confirmed his plan to abolish the entire Us Oil Industry meaning no fracking, no jobs, no energy for pennsylvania families. We are Energy Independent and you are a big part of it may want to end of that. You mean no more oil, joe . He will eradicate your energy and send it pennsylvania into a depression. Stuart joseph biden emerged from his lid to assure reporters hes been working 12 hour days. Watch this. Going to iowa, wisconsin, georgia, im going to florida and may be places as well. There is a lot we have been doing as well in terms of being online theres not been a day that has not been a 12 hour day. Stuart he will leave his house today, hold to events in georgia President Trump will hold rallies and michigan, wisconsin and in nebraska. That is the campaign trail. Now, this is quite a morning for Earnings Report with several big east reporting earlier this morning and susan is here. Susan good morning. Lets start with caterpillar, for short. Better prophet and earning, no guidance and sales falling by half from july till september with stock down on the back of the news. Another dow component merck, the drugmaker raising its fullyear earnings forecast determined by resilient demand for blockbuster cancer drug, another dow drugmaker hopeful pfizer modestly better, still sick until late november still sticking. Jetblue losing less money than anticipated. Sales were down in the quarter and monday selloff hammered this travel stock including jetblue and fears of more locked down with reduced travel with higher covid cases on both sides of the atlantic. Stuart the travel related stocks go up and down with every word about a virus. Susan stimulus, virus, you name it. Stuart and they have never fully recovered. Susan still half. Stuart thank you. Lets bring in mike market watcher mike murphy. Im interested in microsoft. I want to know what to look at, which is the prime element in the microsoft report . Isnt that Cloud Business . Good morning. I think the cloud is what investors will look out with microsoft reports today. There are other pieces in microsoft had a big run up, up 33 year to date because so much of their company is doing well, but the real coup to call, the real piece of the business that will drive this higher is the cloud and theres nothing out there that i have seen that tells me business is slowing down. I think its going gangbusters, so thats why any pullback in microsoft is a great opportunity to own the stock. Stuart icy microsoft as setting the tone for the market tomorrow morning because if they disappoint i think the market will show it and if they exceed expectations i think they will do well. Set the tone for the whole market, you think . It will, but it will be shortlived because thursday we will hear from the rest of the big tech, facebook, apple, google so it will be microsoft takes the lead for the next 24 or 48 hours, but then there are other Big Tech Companies are coming out it big tech, any pullback has been lost and we talked about the recurring theme 70 week you just wonder if the growth stopping, is there anything same accompanies are no longer growing and i dont think we will hear that. Stuart big me give me the big picture for a second. Yesterday we saw an ear thousand point drop closing down 650. Is this the action we will see through the election and may be beyond just to be completely transparent, it could be, stuart. You have to take a step back. Yesterday got ugly midday. We rallied a bit towards the end but we still had a big selloff and for the last month the market is up over 3 . For the year its having a nice gain also, so you will get low volatility around different headlines, but i think there is one side of this that would love to see a weaker market and more chaos and the truth is, we dont see that. We are getting through the pandemic the best we could. We will have the election. My biggest concern has been on election that doesnt have results where we are talking in december and january. You are hearing a lot less about that so if we get a winner tuesday it will be positive for the market. Stuart how about this for Investment Advice dont buy or sell anything for at least the next week . Well, i will say if you get a Quality Company like microsoft for instance that sells off because they missed by a couple of Million Dollars on one section of their business, i would be a buyer so try to block out the noise over the next couple of weeks and stick to the plan of buying quality. Stuart thank you. See you soon. We really like to keep everyone on top of what looks to be a booming Real Estate Market and we have news this morning on home prices. Laura, what you have . Lauren they are up. Prices in 20 cities gained 5. 2 in august. The biggest annual increase in two years. Phoenix led the way with prices up almost 10 followed by seattle at eight and a half percent and in a measure of complete Housing Market and how widespread it is even the worst performing cities, chicago and new york posted annual gains in prices, stuart. Stuart that comes on top of news yesterday, the new home sale prices, up to a median price of 326,000 dollars, so across the board prices of homes are rising. I would call that a sellers market. I have to move on because we are running out of time. To the democrats, barely suppressing their anger after the senate voted to confirm judge Amy Coney Barrett to the Supreme Court. Speaker polos he is totally with idea of packing the court. Watch this. Should we expand the court . Lets look and see, to the nine District Courts, maybe we need more District Courts as well. Stuart joe biden now says hes open to wait for it, no idea what that means but we will cover the story for you. This is important. As we stare down a second wave theres growing anti lock down opinions, 15000 scientists and doctors come out against lockdowns. You will hear more about that in my take coming up at the top of the next hour. Checking futures, there is some green but hardly enthusiastic rebound. 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October, for the entire month typically the second worth worst month of the year for the stock market and even worse for an election year. The boat typically takes place in november so investors sell in october. However, research by says eight days heading into the election is usually good for the stock market with average gain of two and a half percent for the broader s p. At biggest gain in 2008 during the financial crisis when the s p rallied eight and a half percent headed into the obama votes. Two times it decline, 1980 and 1968. Stuart my head is exploding. Absence surety the worst in the stock market will be the day when joe biden wins the white house, democrats take the senate and keep hold of the house. Susan are you calling for a democrat blue sweep . Stuart god forbid, certainly not. Lets get back to the virus. This is not funny pic the latest lockdowns in italy with mass protests and violence. Would we have on this . Ashley protests in about a dozen cities across italy took to the streets upset about the latest antivirus measures imposed by the italian government. Cases are rising again and italy ordered restaurants, bars, gyms, cinemarks to close with nighttime curfews in place. Some of the most violent protests were seen with a number of Luxury Stores including a gucci boutique ransacked by a crowd and Police Responding with tear gas. In milan, crowds chanting freedom. In one northern italian town Restaurant Owners the pots and pans in the city center all night. In naples, a crowd gathered calling on the Regional Government to resign. Its a mess. The new restrictions will be enforced until november 24, and Small Businesses say the new restrictions will they cropped them. So, tensions rising in italy took not a full national lockdown, but with the latest restrictions its having a huge impact on the economy and people are upset. Stuart i have more on whats happening in europe with virus cases surging, france saw almost 80000 new cases in one day. In america, we are reporting 65000 cases in one day. That was yesterday, by the way. Matt mccarthy is back with us, Infectious Disease expert. Doctor, we just outlined in europe. I think it america we are looking at more lockdowns, minorleague lockdowns perhaps. What do you think we are facing here, a big lockdown do you think . Stuart the screen has frozen or the good doctor cannot hear me. I can hear you. Stuart what do you think we are facing in america as caseloads rise. Are we looking at another big lockdown here, doctor . You can hear me . Stuart yes, sir. You are on. You have a Million People looking at you right now, sir. I cant hear anything stuart sorry about that. The good doctor cannot hear us. We will try to establish communication at some point. Now, eli lilly, with the stock nearly 5 , the ending anti antibody therapy trial. Susan this from the federal Health Researchers and they say there is no benefit from this treatment for patients treated with it in the hospital that have a severe case of covid19 so they were giving eli lilly drug along with an anti but antibody drug treatment so together researchers say theres no benefit eli lilly will continue to test its drug and other studies for people with mild symptoms, but the stock is down. Not only would it be the hall, but they reported bigger profits thanks to newer drugs, but that report fell short of what wall street wanted with disappointed earnings. Stuart we now have matt mccarthy, doctor mccarthy with us. Do you think were looking at a big new lockdown in america . No, i dont. What we are seeing across europe are these big broad mandates for people to stay at home, and not go out and thats simply not what we will see in the us in the near term. What we are seeing is what we call many lockdowns. In newark new jersey tonight nonessential businesses will have to close after 8 00 p. M. In el paso a twoweek stay at home or. A place in kansas city turning away ambulances, so we see these very sort of micro shutdowns or lockdowns and i expect to see more of that as we go into winter without a vaccine thats just the reality of where we are at. Stuart do you think its a legitimate strategy . Well, its the only strategy now. I was looking back at an op ed mike pence said back in june saying there would not be a second wave of coronavirus. I disagreed at the time, but i think hes right, we never got through the first wave and what we see is a resurgence of whats really been this first long exhausting wave. I would like to see more social distancing, more mask wearing in public. I think in some regions there is an appetite for that and another cases people are so exhausted they want to get back to normal, but the problem is going back to normal can make things worse in the nightmare scenario, the things we are really worried about our hospitals overwhelmed and the prospect of rationing medical care was raised by the governor in utah saying they just dont have the resources if trends continue to care for all the patients. Right now, we can handle many lockdowns, but we may reach a point where they expand extend beyond the disabilities. Stuart doctor mccarthy, thank you for joining us. We will see you again soon. Check that big board. Dead flat basically on the dow jones. Nasdaq looks like its going to be on the up side by about a third of 1 . Big tech doing well. Back after this. Stuart three minutes to go before the market opens and we will find out what kind of a doubt if any we got from yesterdays decline. Come on in david barton sign. Today hes getting political. You say bidens lockdown threats could cost him the election. Spell it out, please. Its pretty simple, stuart. He has the lead in the polls. People have their own instincts as to whats going to happen or not, but i cant think of a bigger error he could make in the final weeks than to go forward with this ridiculous idea that he wants to be branded as a lockdown candidate. Of the effect of the matter is, everything he said in the prior segment is completely correct. We are dealing with a virus that is a spread in hospitalization that has stayed reasonably contain. Icu and multi day stays are way down and the mortality is way way down, about 75 from peak levels. This notion he wants to threaten the middle class and lower economic wrongs of people with further lockdowns is insane and i think that is not only a political liability for something the American People have to understand that if you care about the economic prospects of those more disadvantaged you cannot support the idea of staying shut down. We need to get back to work, open the schools, open businesses and let this virus run its course that doesnt mean not protecting the vulnerable. We know what we need to do to do that. Stuart im glad you raised this because coming up at 10 00 a. M. Im going to detail these 15000 scientists and doctors who are saying the lockdowns had the worst possible impact on poor people imaginable. Im glad you brought this up because i would like to bring that into the argument as we think what to do about the second wave when it arrives. Last 30 seconds for you, david. I went to point out biden said in the debate oh, the rich are getting richer, though he and heirs have added to their stock portfolio and the poor people are getting hammered. Thats because of a lockdowns. Thats because people that wear a tie to work can go on to zoom into this nonsense. The fact of the matter is other people that bus tables, Service Workers cant and we have to get that economy open, stuarts. Stuart glad to hear it from you, david. Thanks for turning away from dividend plays for a moment and go into the interesting political issue. Thank you. We are about to open this market. Its a Tuesday Morning and here we go. 9 30 a. M. Eastern. I expect to see some green, but id dont know. I was wrong. Down 30 points on the dow industrials, a tiny fraction of 1 . I see more than half is in red that we just turned around and we are in the green. That is the dow jones. S p 500 is up a tiny fraction. 15 . Nasdaq composite showing a more solid gain of about a half of a percentage point. Looking at some companies which reported earlier this morning, pfizer, caterpillar, jetblue all reported before the bell and all of them are on the downside. Of there are others that reported earlier that are on the up side. The big tent, all on the green there. Microsoft, amazon, facebook, apple all on the up side, not huge gains, but they are up. Microsoft reports after the bell this afternoon about 4 10 p. M. Susan, i own this stock. Susan isnt the only only tech stock you own . Stuart as a matter fact it is. If im looking at the microsoft report was the key factor to look at . Susan cloud appeared dino at the cloud does . What is it called the . Stuart i do know. Susan we are looking at we expected growth rates to be pretty high because thats how they usually crushing. It grows by 60, 70 , those are the numbers we have grown used to. Its key obviously but then what about Amazon Web Services and are they taking market shares away from cloud. As we look at gaming because they have the release of the next generation many more people are gaming work how well his xbox doing. Also Microsoft Team which is a zoom competitor for working from home. 75 million daily active users at the end of april, behind the 300 million daily meeting participants on zoom. Are they taking lunch away from zoom would be a great catalyst. Stuart we will see this afternoon. At the french word, got it. Las vegas sands reportedly looking to ditch las vegas was that about, ash . Ashley iconic landmark in vegas , the Las Vegas Sands could be dumping vegas to concentrate on china and singapore. According to reuters the company is exploring the sale of its Las Vegas Casinos including the fans, the venetian for about 6 billion that would lead the companys portfolio entirely concentrated on the couch and singapore. By the way they were plans to open a resort casino in japan. They were dumped in may without any reason given. As of june 30, this company is up this company had close to 14 billion in outstanding debt, thirdquarter revenue down 82 compared to the same time last year and fitch revised the Rating Outlook for the company from stable to negative, so they are exploring the possibility, we are told, of getting out of vegas and heading overseas. Stuart very big move. I have another one, harleydavidson, thats not doing very well. Had a terrific report. Up 14 . Yes and no, up 14 and i will get to it, hog, i always love that simple. Good news bad news for harley, earnings in the Third Quarter better than expected coming in at a dollar five per share. Revenue was down 10 yearoveryear because the motorcycle demands has really struggled to get a foothold since the pandemic lockdown. Retail sales in the us down 10 yearoveryear. You should know that the milwaukeebased company this is interesting is not posting growth in retail sales in the us for six years. Basically cant find customers beyond the baby boomers, the retired and soon to retire doctors and lawyers who like to take to the open road and get into their inner biker mode. Today announced a deal with an Indian Motorcycle company for distribution of services of harleys in india, india is a huge motorbike country. The problem is harleys are too big and they have had a hard time getting a foothold there , but news of the Distribution Agreement giving the stock a boost to today spirit they are now up 13 . Stuart apple down a fraction 42 cents. What is this i hear about revamped air pods . Susan they will be similar but shorter stands and replaceable ear tips. Fastest growing segment for apple which will report earnings later this week. They are looking to get rid of the stem and also for the air pod, the higher one, Noise Cancellation will be intact and they will get rid of the stem so it will look more like a samsung earbud. Wearable fastestgrowing segment for apple, up 70 over the last two years raking in 6 billion in the last quarter, thats close to how much mcdonalds makes for the entire year in the us and they did that in just three months. Stuart i gotcha. Thats a wearable . Susan wearable. Stuart the watch is a wearable . Susan yes. Stuart anything else . Susan what else is in the wearable . I would say beats. They will have a over the head or phone. Stuart thanks. This stock is down 3 . Susan this is one of the winners of the year of 200 thus far. The reason is guidance, stronger sales prophet in the quarters. For any other Company Forecast 30 growth in sales would be fantastic they are used to this type of growth and more wall street wanted narrower losses. They are on fire this year as a mentioned this stock ipo in 2016 only 16 and. I know its when you missed. Tripling this year and also by data and start up segments for 3. 2 billion. Stuart Communications Platform to yes, anecdotally i describe it as a Company Providing a phone call for you and you cant find your uber driver. Stuart got it and its down 10, 3 . One more and this is for youd you are hogging the show. Advanced micro devices reported after the bell today, but ahead of that they have a huge deal. Susan 35 billion all stock deal with the deal was brought in, 5g, car electronics, known as a chip maker competing with intel and they are benefiting from intels chip delays the main driver behind this is nvidia, the largest chip maker buying iphone chip designer for 40 billion and they think they need to bulk up to make sure they can compete with 5g graphic cloud in the stock is 80 so far this year. Stuart im glad you are here to explain technology to make c2 pretty good at it. Stuart not bad. No rebound from yesterday they excel off with the dow jones up dead flat, basically. Democrats im going to say they lost us after Amy Coney Barrett was confirmed. Watch this. I fear for the Supreme Courts legitimacy. Dot American People will expect us to use every tool we have 21 do the damage. The American People will never forget this blatant act of bad faith stuart they werent alone. Wait till you hear how the media melted down. There is this, 62 million votes have been cast. Some voters may be having doubts. Google searches for change my vote, has spiked over the last few days. We will tell you all about that. Its a thirteenhour flight, thats not a weekend trip. Fifteen minutes until we board. Oh yeah, we gotta take off. You downloaded the Td Ameritrade mobile app so you can quickly check the markets . Yeah, actually im taking one last look at my dashboard before we board. Excellent. And you have thinkorswim mobile so i can finish analyzing the risk on this position. You two are all set. Have a great flight. Thanks. Well see ya. Ah, theyre getting so smart. Choose the app that fits your investing style. This was the theater i came to quite often. The support weve had over the last few months has been amazing. I have a soft spot for local places. Its not just a work environment. Everyone here is family. Gonna go ahead and support him, get my hair cut, leave a big tip. If we focus on our local communities, we can find a way to get through this together. Thank you. If you are ready to open your heart and your home, check us out. Get out and about and support our local community. We thought for sure that we were done. And this town said not today. Seeing what people left behind in the attic. Well, saving on Homeowners Insurance with geicos help was pretty fun too. Ahhhh, its a tiny dancer. They left a ton of stuff up here. Welp, enjoy your house. Nope. No thank you. Geico could help you save on homeowners and renters insurance. Stuart we brought you the unfortunate breaking news earlier, unrest in philadelphia after a armed black men armed with a knife was shot and killed by police. Charles payne joins us now. Charles, this is happening when we before the election, happening in philadelphia, pennsylvania, a swing state. Dc political implications from what we saw happening in philly last night . There can be because we sought during the summer when there were several cities that saw extensive writing which was distinctive from the peaceful protests, but when these things morph into looting and violence at night, i have not seen the video of last nights event so i dont want to opine on that as much as the fact that i have read 30 officers were injured. I did see a video on twitter of one Police Officer run over by a pickup truck. Of this kind of thing scares people Everyone Wants to we talk about the massive slide of people out of these major urban cities. Covid is playing a role but this plays a role in serving plays the role in the mind of the voters who hope for calm and peace. Stuart i would like to see joe biden asked about defending the police or reallocating money away from the police, i mean, i think that is an election issue bringing it to the forefront. Lets talk about the market for a second. We saw a big selloff yesterday, meyer league come back towards the end of the day. Will we see more of this upanddown volatility over the next week or two when mike i think we will see more anxiety. I dont think it would be easy to trigger them. Last week was a tell when we have Earnings Reports that didnt move the needle for the market, so you have a whole lot of anxiety building up. One narrative that is weird is this sort of that if trump wins there will be folks who wont accept the outcome or vice versa. You know, that would be shortterm because we know whatever it is at some point there has to be a transition of power if it has to be it will be peaceful and if trump remains in office he will remain in office. Lets not forget five major cities are told to be prepared in dc they are trying a board of some sort so wall street senses that, but looking beyond the election people are concerned about the stimulus think and i think most of yesterdays selloff was another message from wall street to washington to get your act together because the final narrative can be that there wont be any more fiscal stimulus. Stuart i think they will get around to it eventually, but not necessarily today or tomorrow. Its going to be tough. I think the idea they will get around to it, we have been saying since the end of july and it hasnt happened. Whos to say it would happen even in a more bitterly divided country after the election. Stuart wall street acknowledges there will be a spending spree no matter who wins or if you could a stimulus package before or after the election ended the fed will always be printing up a storm so i think wall street is convinced after the election there will be more spending and that will be stimulus into the economy. I think thats why we have stocks at 26600 on the dow. I disagree with that 1000 . We would not have a thousand point down day if wall street was 100 convinced. Headline writers are convinced, but wall street aint convinced because it has not happened yet. It does not have to happen. We were going to get infrastructure when President Trump was elected and democrats didnt want it. Federal reserve money is not making it to main street. Federal reserve money is not making it to Small Businesses. They would like to, but they dont really have the mechanism. Power has been screaming at the top of his lungs for congress to do it on the fiscal side. They can send checks directly to peoples home tomorrow if they get their act together. Stuart charles, you are hosting a virtual town hall at 2 00 p. M. Eastern today. We will make sure to tune in. The gang is all there. Of the gangs all there. We are just missing you but we will do post election with you. Stuart if youre not careful, i will do that. Thank you. We have wells fargo, this is interesting. Tense up, susan. Wells fargo protects a record Holiday Shopping season. Yesterday you brought us the story of deloitte saying we would have a 7 drop in Household Spending for the holidays and now, we have wells fargo saying it will be a record deal. Susan i thought i would give you this as an appeasement. Yes, wells fargo says Holiday Spending will jump 9 this year, but as i reminded you analysts are all over the place. There are two at least predicting a drop when it comes to Holiday Spending jerk gallup poll shows they expect a drop of 14 and half percent. They showed a decrease of 7 , but dont forget you have retail sales that have recovered from the pandemic up five straight months. Stuart i think it will be a record year. Susan dont you think i was generous . Stuart you, generous creature i thought it was generous. Stuart President Trump moving full steam ahead today with rallies in michigan, wisconsin and nebraska. Kayleigh mcenany joins us from the campaign trail in the next hour. More varney co. After this. Gives us confidence. So we can spend a bit today, knowing were prepared for tomorrow. Wow, do you think you overdid it maybe . Overdid what . Well planned, well invested, well protected. Voya. Be confident to and through retirement. Stuart big Holiday Season coming to amazon. How many people are they hiring to 100,000 seasonal workers. California, texas, ireland, georgia at new jersey are the top estates where they will hire. Last year they hired 200,000 and the reason why we had half the number is because amazon has already stacked up during covid. And they went on a hiring spree in march and april to keep up with the surge in online orders jerk in may they said they would offer around 70 of the 175 . Stuart total employment must be approaching a Million People. Susan 876,000 around the world. Stuart a look at microsoft, please. They report earnings at about 4 00 p. M. Ray along is here, our tech guy. Are you expecting a blowout, blockbuster report from microsoft today . I think they will do really well and part of the reason is the Cloud Business. They have big momentum there and also part of the collaboration and productivity act of that microsoft. We are waiting to see what happens in the more pc segment to see if it picks up on the windows side or other areas because that has been flat the last couple of quarters. Susan even if the pc side picked up, that pales into significance compared to the cloud product or even teams, i mean, the pc side of the business is really fading, isnt it . It is, the Slower Growth side. Microsoft has been doing a good job investing in younger areas. You saw what they do with the communities, xbox will enter the Holiday Season so that will be the rampup that people are trying to get guidance on. Stuart would i be right in saying microsoft alone among the big tech is not threatened with antitrust action from the government or any other action from the government collects a standalone, dont they . They do and one thing thats interesting as they dont have section 230 issues to worry about. Could they have gone through the antitrust a couple decades back and that has given them an operating model in their culture to avoid some of the issues. Stuart thank you for joining us watch this network around 4 00 p. M. Eastern time. Just Getting Started on varney co. 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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 who could not know that song . Isnt it theme song from some kind of show on tv . I think it is. Isnt it . Susan europe. Youre thinking of the euro song. Stuart that was 50 years ago. It is the final countdown to the president ial election as you see on your screens seven days away. And by the way, look at that, 62. 6 Million People have already voted. Here is what is on the agenda for the candidates today. President trump not slowing down at all. He has got rallies in michigan, wisconsin, and nebraska. Joe biden is out of the basement. He is holding two events in georgia. Back to your money. Look where were going here. We have a half hours worth of business on our belts. There is not that Much Movement in stocks prices where big tech is doing well. Nasdaq up a half a percentage point. Breaking news happening right now the latest read on consumer confidence. Susan. Susan were looking at a read of 100. 9. We were looking for 102. We saw in september, 101. 8. It was the fastest recovery from august to september in 17 years. I would call these pretty strong numbers. Stuart no impact on the market. Youre on the downside. What do we have next . Down for the dow, were off 39, 40 points. Up for nasdaq, 52. Now this. Lockdowns are the worst assault on the working class in a half century. Whoa, now that is a flatout denunciation of the lockdown that took over our economy. Who said it . Bernie sanders,aaoc . Intono, from three scientists from stanford, oxford, universities. That endorsement has been denounced by 15,000 doctors. This growing antilockdown opinion is very important. The researchers are saying very clearly dont lock down. It is devastating for poor people and they say the medical and psychological damage from lockdowns is worse than from the covid virus itself. They want, quote, focused protection for Vulnerable People while those who face, quote minimal risk should be allowed to resume their lives. Their approach is similar to President Trumps. Maybe thats why the media has ignored them or worse, suppressed their opinion. They claim google shadowbanned their report. How about that . Same old story. The left and media propaganda difficults, so hate the president they will suppress anything that hurts joe biden. They will suppress it. He supports lockdowns. So any antilockdown stories or opinions must not see the light of day. Pathetic. Lets be clear here. This is no tepid critique of lockdowns. It is a full bore condemnation. The lockdowns, the authors say have had a devastating effect on public health. The damage includes economic catastrophe, social harm and a lack of schooling for our children. We ought to remember that now that a second wave has arrived and we have to figure out what to do about it. We have got to figure out what to do. These guys are saying no lockdowns. The second hour of Varney Company just Getting Started. Stuart all right. You heard what i had to say in my take there, Scott Shellady joins us. Scott, youve been saying for a long time that lockdowns are not the way to go. I take it, scott, you saw what just happened in italy overnight. They have riots from people who dont want to be locked down any longer. This is a big deal right now, scott. Well if you ask me it has taken too long for people to get angry like that. Were starting to see more in illinois. I wrote an editorial in the northwest indian times, lockdowns are lazy. That is what leaders do. They cant put brain power to figure something out. Keep those at risk okay and let everybody else still healthy continue on. The reason i wrote at it, i stared at the television, hear joe biden how he loves firstresponders. I love our police, i love our firemen. I love our paramedics. I love our firstresponders. We should make sure we look after them, but at the same time he said he would lock the country down three times. So guess what, joe biden and Lori Lightfoot and cuomo and de blasio, when you shut your economies down you have no tax revenue to spend on those you claim to hold so dearly to your hearts. That is why i wrote the editorial because lockdowns are what idiots do that cant think of anything else better to keep people safe. It is absolutely insane. It really does hurt the economy. Stuart but having said that, having written that, scott, i will bet you were called, youre just playing with peoples lives . Youre killing people, i bet you that is what they said to you . Oh, i got Death Threats back in march when i said it. Stuart, what you just cited there has been a lot written past 40 years. First those white papers said lockdowns dont work. I tell you this, people say to me i choose commerce over bodies, right, i will tell you right now, the government does it every day and you dont care because if they didnt do that every day, do you think the government could sell another cigarette ever again . Theyre choosing commerce over what they know cigarettes can do to you. That happens every day all day long. So we cant just single out this one. Yes, it is part of life. Part of what governments do. We have to get on with our lives. That is what well do, live with this going forward. Stuart scott, thank you very much for being with us. We welcome your opinion. Thanks for joining us, sir. See you soon. I want to bring in Rachel Campos duffy, fox news contributor. Rachel, you just heard me talk about lockdowns. I know you have a very large family. Yeah. Stuart i dont think you like lockdowns. You want your children to be in school, am i right . Absolutely and mine are in school because theyre in a private school, in a catholic school. What i find interesting about this youre right on. These people that wrote this Great Barrington paper, they are 100 right this hurts the working class and the poor more. You know the biggest proponents of these lockdowns and shutdowns of schools, the biggest supporters are white liberal women. Why . Because they have the resources to mitigate this. It is poor women, who cant do this. The rich women are hiring tutors. Theyre getting together and forming pods and hiring people to come to help their learning pods. That doesnt happen to working class women. And i think that joe biden during the debate didnt just lose voters over his fracking comments. I think a lot of moms across the country heard Something Else. They heard donald trump say open schools, and they heard joe biden say, pessimistic message about lockdowns and basically telling them that their kids will be on zoom calls for the rest of the year. We all know, if youre a parent, you know your kids are not learning on zoom calls. Stuart okay. Im going to bring up the subject, rachel. I believe you are of hispanic heritage yourself. We have a New York Times poll shows President Trump has four point lead over biden in texas. But the main part of the story deals with bidens weakness among hispanic voters that was a surprise to me. How about you . Not a surprise to me at all. Democrat party has become the party of corporate, liberals who are looking for cheaper labor, of the elite environmentalists. Donald trump has turned, his party, the Republican Party into the party of the american worker. And that message resonates especially with hispanic men. You see the numbers are up higher with hispanic men, just as they were with black men who also respond to this America First worker, party of the working man message that donald trump has. They also like his very strong ceo approach to government. So theyre attracted to that. In texas, varney, many people dont remember that when nafta passed many factories that were in texas actually moved just a few miles south down to mexico and american hispanic workers who were working in those manufacturing jobs lost their jobs. People in texas who had those jobs dont forget that. They know that donald trump renegotiated nafta to make those terms more favorable for american workers. So what people need to remember, hispanicamericans are americans and they care about our economy and they care about their own jobs and so trumps message resonates. Stuart rachel, give our very bests i think it is your nine children . Is that correct . That is correct. Stuart best wishes to you as well. Thanks, rachel. Thanks, varney. Stuart i have to get back to money. Why not. Susan watching shopify and amazon. Susan look at a rally were seeing in shopify. Amazon such after hiring 100,000. Shopify is teaming up with tiktok in order to allow users on the social media app to shop on video ads it provides. That make sense . This is very interesting because dont forget walmart was part of this bid to buy up tiktok. Now shopify which allows merchants to have the storefronts online is now helping those merchants advertise on tiktok and so you can just click on the video ads and it takes you to the merchant. Does that make sense . Im trying to explain social media. Stuart did a good job. Susan also, by the way lockdown winners here, square, paypal. The transition is to online banking. That is happening, if we have another round of lockdowns with rising cases. Nvidia, benefiting from xilinx tieup. A lot of winners like tdoc are gaining. Stuart thats good. We have Earnings Reports from companies that came out early this morning before the bell. I will run through them for you. We got the report cards from caterpillar. We got a report card from merck, pfizer, jetblue. Put them up on the screen, maybe. Lets see how theyre doing after their Earnings Reports came out. Lets move on to caterpillar. Their sales fell by half the last three months. Merck faring better. There you go. Seas down by a half last three months. Down 2 1 2 . It goes from there. Merck, they Strong Demand for their Cancer Therapy drug, keytruda. Merck is up today just over 1 . Pfizer, they have recruited 42,000 participants for their virus vaccine trials. That is not easy but they did it. Stocks down 1 1 2 though. Jetblue, theyre still under huge pressure obviously. Their Third Quarter Passenger Capacity just 42 . It was 85 a year ago. Jetblue down just a fraction. Big hour coming up, cale h Kayleigh Mcenany, Brian Kilmeade and trump 2020 advisor mercedes schlapp. The Mainstream Media wasting no time criticizing Amy Coney Barrett after her historic confirmation. Roll tape. A impeached president who lost the popular vote, appointed got earn confirmed 1 3 of the United States Supreme Court. To have hypocrisy that egregious riding your soul for the rest of your life. Stuart you know, they really just hate anything that President Trump achieves, dont they . Well have more on that. You heard my take on lockdowns, moments ago, coming up. I will talk to the mayor of el paso, texas, who ordered a small lock down in that city. More varney after this. Oh. He hit a cop. Oh, my god, he hit a cop. He hit a cop. Stuart were showing that video again. The moment an officer was run over by a pickup truck that happened in philadelphia. The female sergeant who was run over in the hospital with a broken leg and other injuries. It happened as rioters took to the streets after an black man armed with a knife was shot and killed by police. 30 other officers were injured. What happened in philadelphia all started when Police Responded to a domestic call. He approached the victim, i guess you call him a victim here, the black man. Approached the officers with a weapon. They told him drop it. He didnt. That is when the officers fired several shots. They have been taken offduty. An investigation is underway. There are political implications from this. It is philadelphia, pennsylvania. Its a swing state. Were a week away from the election. What does joe biden say about taking money away from the police. What does joe biden say about violent urban unrest. Its a political issue, like it or not. 64 points down for the dow industrials as we speak. Not rebound at all after yesterdays decline. A couple of stocks in the news. 3m, sales surging thanks to demand for Health Care Products like face masks but the stock is down one 1 4 . We do have some good manufacturing news from texas. What do we have, ashley . Ashley we do. Were talking about data from the Federal Reserve bank of dallas. Basically as we know, these are a snapshot of Economic Activity but the numbers are encouraging. Factory activity in october expanded for the fifth straight month, hitting a twoyear high. The report relies on feedback from executives, overall, new orders were up over september. Shipments increasing. Expectations for future Business Conditions they say remain positive. The only metric moving slightly lower from september was employment, which signals that the, a less strong rate of hiring if you want to put it like that. But texas has been booming. As we know some businesses have been moving there, stu, because of businessfriendly environment, lower taxes and so on. Tax credits, just that part of the country in october, showing some strong resistance. Lets put it that way as we face potential second wave of the virus. Stuart i think theyre going for trump. That would be my offthecuff idea for the election in texas one week from today. All right. Staying in texas, he will pass imposing a curfew, 10 00 p. M. To 5 00 a. M. , cant go outside. If you violate the curfew, there is a 500dollar fine. The mayor of el paso joins us now. Why such drastic action, mayor . Stuart, let me clarify. The way texas works the governor is in control of emergency orders. The county judge preempts the mayor. So our county judge issued this order on sunday. By statute, the city of el paso, irrespective of the fact were largest entity in our county must follow. Stuart do you approve of it . What i approve of anything that will stop our spread. We have, our hospitals are inundated. Today we announced 1392 cases. We have 892 currently hospitalized. Were at capacity. We have another 206 in icu. That is up 26 from yesterday. Stuart okay. So its a great concern. We dont know, were not real sure where all this is coming from. Deep dive we did stuart do you maybe you have got a border problem . El paso is right on the border. Were the largest American City on the mexican border. Stuart is there a border problem . Is some coming across the border going north of the border to you, el paso . Yes. I think there is some of that but remember, we have, both on our side and Mexican Government side stopped all nonessential personnel from traveling back and forth f youre a u. S. Citizen, have a green card, working in the meklias in juarez you have ability to go back and forth as essential worker. When we did our deep dive, over 50 of the positives are coming from age 40 and lower less. And that 37 were admitting they visited stores. 22 1 2 were restaurants and 22 was visitation to mexico. Were trying to get our arms around it. The governor is most responsive. We had to bring in four surgical tents. Weve got, were looking at an alternate care site unfortunately at our Convention Center which will be set up with 50 beds to begin with. It can expand to 100. Were having to air vac noncovid patients to other hospitals throughout texas. So it is not good. We want to do everything we can. I implement ad limitation on restaurants to close their kitchens at 9 00 a week ago thursday. And we were waiting for that to take but our, the county judge determined more needed to be done. Stuart okay. He implemented his curfew on sunday. One of my concerns is im not sure we can really enforce it. Stuart its a difficult situation. We wish you the best of luck working through this difficult situation. Sir, thanks for joining us. Thank you. Stuart we appreciate it. Thank you. New jersey also imposing restrictions. Lauren, tell us what theyre doing in newark. Lauren a curfew. It kicks in tonight at 8 00. It will last for two weeks. All nonessential businesses in newark, new jersey, must close. Food stores, pharmacies, gas stations are, concluded. Restaurants can serve outdoors until 11 00 p. M. That is the outdoor curfew for restaurants. Hair appointments, appointment only. Gyms have to sanitize every single hour. The bosstivety rate in newark reaching 11 . The city will reassess everything in november. This is not a complete lockdown that we saw in march. If youre a gym, you have to spend the first half hour of every hour sanitizing, that is a big expense. That would make people not want to go to the gym. Stuart i think youre right about that sanitizing every hour is a big deal. Thanks, lauren. To the election politics. Facebook said it helped millions to reg is it to vote. Millions . How many are we talking about about, lauren . Lauren 4. 4 million. If you go to the facebook or Instagram App the at the top of the app, everything you need to know about voting. Dead lines, mailin instructions. Facebook says 4. 4 Million People it helped to register since summer when it standerred the largest Voting Campaign in history. As for election security, because that is going to be a big issue once again for facebook i can tell you this, ceo zuckerberg donated 400 million to that end. That matches basically what congress appropriated to help fund these changes with the election that are brought on by the pandemic. So with facebooks help and because there is so much interest in general this queer, despite the pandemic, more people than ever are casting their ballots early and likely record numbers come, well, when we get the results hopefully. Stuart all right. Lauren, thanks very much indeed. Bottom righthand corner of the screen, the market took a turn to the south. Now were down 130. Indoor dining to be banned in the chicago suburbs. It is already snowing there by the way. The citys making it real difficult for businesses like restaurants and bars to survive. Weve got ed rensi to comment coming up shortly. Next, Kayleigh Mcenany a lot to go at with her. A lot more varney after this. Nonvalvular afib can mean a lifetime of blood thinners. And if youre troubled by falls and bleeds, worry follows you everywhere. Over 100,000 people have left blood thinners behind with watchman. Its a onetime, minimally invasive procedure that reduces stroke risk and bleeding worryfor life. Watchman. Its one time. For a lifetime. Adapting. Innovating. Lsetting the course. But new ways of working demand a new type of network. One thats more than just fast. You need flexibility to work from anywhere. And manage from everywhere. Advanced technology. With serious security. And reliable coverage, nationwide. Forwardthinking enterprises, deserve forwardthinking solutions. And thats what we deliver. So bounce forward, with comcast business. vo im a verizon engineer and today, were turning on 5g across the country. With the coverage of 5g nationwide. And, in more and more cities, the unprecedented performance of ultra wideband. The fastest 5g in the world. It will change your phone and how businesses do everything. Im proud, because we didnt build it the easy way, we built it right. This is the 5g americas been waiting for. Only from verizon. Stuart im afraid it took a turn to the southlands, that is the dow industrials. Were off 143 points. I dont have an immediate reason why we turned south. Suffice it to say were down half a percentage point there. Fractional gain for the nasdaq. Now this, when the president holds one of his rallies you can see how he relates to the crowd. He loves them. Feeds on their approval and they feed on his energy. A trump rally is Something Else. A biden event is completely different. Most are virtual. The rare inperson events are poorly attended, frankly dull. He seems ill at ease whichever crowd or whatever crowd he can muster. He is clearly avoiding reporters. My opinion, trump embraces the crowd. Biden withdraws from it. Trump is all energy. Biden seems like frankly, he is out of gas. President trump goes to three rallies in three different states today. First he heads to michigan. Then it is on to wisconsin, he finishes it out in nebraska. Kayleigh mcenany joins us serving now as advisor for the trump campaign. Kayleigh welcome back. Thank you so much. Stuart covid cases, 60,000 yesterday. 80,000 a couple days before that. Some would call it a spike. Some would call it a surge. At these rallies are you going to enforce mask rules. We hand out masks. We encourage people to wear them. We temperature check. We provide Hand Sanitizer that is it what the campaign does. People have right to political speech. Just like they had a right to go out and protest. Like the womens march. People have the right to attend that. We have a First Amendment in this country. President trump is very intent on want towing fight for the vote of the American People. Joe biden is in his basement. If he wont fight for your vote he certainly wont fight for you as president. Stuart you wont enforce it. I guess you cant enforce it. You could. Forced to wear a mask on a plane. You could force them to wear a mask at the rally. A lot of people would say that prevents the spread . We hand them out. We strongly encourage wearing the mask. Ultimately it is someones choice but we do strongly encourage it. We hand it out. Then most people, i would note do wear the mask. You see people behind the president in the crowd. Not every single stop with the president , travel with him, to these, all these events. Most people are wearing them at the events. Stuart nancy pelosi, Speaker Pelosi trashing the white house yet again over stalled virus relief talks. That is a letter to democrats. What are the chances getting any kind of stimulus package, virus aid relief before election day . Look the chances are slim when you have someone like nancy pelosi, speaker of the house. When you look at the proposal they put forward. It still stands today, stimulus checks for Illegal Immigrants is in this bill. Protections from deportation is in this bill today. A radical left wishlist. This is not serious. If were providing stimulus relief for the American People it should be just that, for American People, for the United States citizens not a wishlist, excuse me wishlist from the liberal left. So it is on her. Look, why doesnt joe baden stand up to say, nancy pelosi, pass airline funding . We offered that. Nancy pelosi pass unemployment benefits. We offered that. Clean bills. Joe biden, it is shameful he wont call out his own party. Stuart got it. Im looking at a list of cases which are on the Supreme Courts docket. They include President Trumps taxes, pennsylvania ballot extensions, wisconsin ballot counting and requests. North carolina ballot counting. Theyre all, and michigan abortion. All are on the Supreme Court docket. Now judge, justice Amy Coney Barrett, she has been sworn in. Does she get to sit in judgment on those cases which we just put up on the screen . Absolutely. Look, she made clear in her confirmation hearings, it is the choice of a justice in consultation, seeking the recommendations from other justices but ultimately it is the choice of the justice whether to recuse herself. I see no reason why she wouldnt rule in any of those cases. She is an extremely good jurist, one who looks at the issues and rule of law. She doesnt allow her personal opinions to infiltrate in her opinions. Stuart now, if there is a disputed election and it goes to the Supreme Court, if she does not sit in judgment on that disputed election case, then you could have a 44 tie. So i presume that Justice Barrett will have to preside over any election problems that may occur . Yeah. That again will be her choice, whether to recuse herself or not. But, stu, were very confident were not getting there. When i travel with the president to maine for an off the record stop and thousands of people show up with two hours notice. Were in ohio, people are lined on the street, when a New York Times reporter yesterday tweets out that in pennsylvania joe biden is 10 points behind where hillary was. President trump is nine points ahead where he was in 2016. There will not be election day dispute. Just a resounding endorsement from the American People. We are very, have he confident. Why joe called a lid yesterday. Opened the lid. Snuck out and then ran back to the basement. Stuart you feel you have momentum with a week to go. There is no doubt about it, stu. We have a tailwind behind us. Lights went on. We have tailwind behind us. Stuart dont worry about the lights. We hear you. Kayleigh mcenany. We hear you. Actually 62. 6 million ballots have already been cast. Hold on a second. Some voters want, may want to change their mind . Intriguing story, ashley, what is it all about . Ashley yeah, it really is. According to google trends data, searches for can i change my vote is trending, largely over the last few days, linked to searches for hunter biden. Interesting, is it not . So the question becomes can i change my vote . And the answer is, yes, in some cases you can. Some states including new york, allow you to have a change of heart by either requesting a new ballot to override the initial one, or, you can go to a polling site and vote in person, and absentee ballot is set aside and not counted. So yes, you can. If you already voted in person at a polling site machine, you cannot change your vote. Thats it. Done. It also varies by state. Arizona, tennessee, virginia, you only gives residents one shot at voting. But interestingly, michigan, minnesota, washington and wisconsin all allow residents to change their minds. In fact, people in wisconsin, the badger state, actually get three chances. So if you thinking about it, contact your local election office. You might indeed be able to change your mind. Stuart if youre thinking about it. Ash. Check the big board. Were down 150. Now were down 110. But look at the level, 27,573. The 10year treasury yield, an interesting indicator, being this morning back to. 78 . Price of child, we havent checked a long time, 1908 per ounce. Bitcoin, last time we checked it was 13,000 bucks a coin, it is 13,400 now. Price of oil, discounts to 3dollars a barrel. Pretty soon well start checking the price of gasoline again. I think it is coming down. There is a new electric truck maker. You may not have heard of them. Lordstown motors. Investors seem to like it. We have the ceo on the show. Boston Celtics Center enes kanter is here. My opinion sports dont return to normal unless they get back to the stadiums. Well see what enes has to say about this. Stock slices. For as little as 5, now anyone can own companies in the s p 500, even if their shares cost more. At 5 a slice, you could own Ten Companies for 50 instead of paying thousands. All Commission Free online. Schwab stock slices an easy way to start investing or to give the gift of stock ownership. Schwab. Own your tomorrow. This was the theater i came to quite often. The support weve had over the last few months has been amazing. I have a soft spot for local places. Its not just a work environment. Everyone here is family. Gonna go ahead and support him, get my hair cut, leave a big tip. If we focus on our local communities, we can find a way to get through this together. Thank you. If you are ready to open your heart and your home, check us out. Get out and about and support our local community. We thought for sure that we were done. And this town said not today. Some things are good to know. Like where to find the cheapest gas in town and which supermarket gives you the most bang for your buck. Something else thats good to know . 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As we know microsoft is on deck reporting after the bell. Azure, their cloud competing component will be the main driver of earnings, how much it is growing. That is taking a lot of other cloud plays along with it. Snowflake, sales force, alibaba, big gainers, outperformance in mostly down market so far. With more lockdowns impending with higher covid cases that show more cloud place. They with kids at home they need data on the cloud. Data instead of physical storage. Stuart im making out that microsoft is the key Earnings Report today and tomorrow. Susan yes. Stuart how they will do determines how the market does tomorrow morning. Microsoft is all by itself today. On thursday, you have apple, amazon, google. The other one is facebook. By itself well see how it does. Stuart we talked the cloud. Now were talking sport. The nba will start a shortened season, a 72game season. It will start just before christmas. That is the theory so far. Lets bring in enes kanter, a friend of the program. He is the center for the boston celtics. Enes, im sorry, i got to tell you this, i dont think basketball or any other major sport comes back fully until the fans are back in the stands. What say you . First of all, thank you for having me and second, there is lots of rumors out there but there is one thing we know is that the players want to go out and play basketball. The rumors are saying that the season is going to start around december, christmastime and you know, the Training Camp as earliest could be first or second week of december. It is going to be a short season. But i think you know, the nba did an amazing job just this past year about the, you know, the taking care of everybody and zero to positive covid testing. But i think next year it could start and were so excited about it. Stuart will you still be in a bubble . Well, there is also a lot of rumors out there theyre saying that there wont be a bubble. Players are going to play their games in their market. But, listen, we are dying to go out there to play basketball so well take anything. Stuart youre dying to get back on the court, arent you . Right. Oh, my god. You have no idea. We are so, basketball brings so much joy in our lives and also, i know it is so hard, fans are not attending games but right now this is the best we can do. Stuart all right. What about politics in sport . Some of the slogans written on to the basketball courts, i dont know whether they stay or go, how do you feel about it . It is so important to talk about what we believe in. I think the nba is doing an amazing job bringing on the voice what is happening. There are some players out there using their platform to be a voice of all those innocent people out there but i heard that nba will not put the slogans out there next year. I wish they did but i think theyre doing an amazing job to talk about what is happening. Stuart enes kanter, there is a man who really wants to get on the court and play some basketball. I can feel it coming at me. Youre 1000 miles away. Enes kanter, boston Celtics Center. Thank you very much. Stuart good luck, guys. Thanks. Brand new resort casino with one billion dollar price tag is opening downtown vegas, no, not the strip. Heard of that before . I have the ceo on the show. Why is he going downtown and not on the strip . Four years later, Hillary Clinton still bitter about her loss. Well tell you what she is saying now. Of course, Brian Kilmeade. More after this. Businesses today are looking to tomorrow. Adapting. Innovating. Setting the course. But new ways of working demand a new type of network. One thats more than just fast. You need flexibility to work from anywhere. And manage from everywhere. Advanced technology. With serious security. And reliable coverage, nationwide. Forwardthinking enterprises, deserve forwardthinking solutions. And thats what we deliver. So bounce forward, with comcast business. Stuart no rebound from yesterdays big loss. In fact we got a slight further loss. The dow is off another 50 points. Got that. Now, we are exactly one week from the election and stores in many downtown areas are preparing for what they describe as election unrest. What are they preparing . How are they preparing, lauren . Lauren look at these photos, stuart on the screen. In washington, d. C. , right near the white house theyre already boarding up their businesses and covering their glass windows. Then if you look at beverly hills, california, the Police Department there already told businesses that they are shutting down rodeo drive the day before the election on november 2nd, and told all businesses bored up. Why . Theyre riots. Theyre anticipating election unrest. Look, these businesses have been slammed by the pandemic and shutdown that ensued. Social injustice protests and violence over the summer and now potentially riots following, what, a delayed, contested or even just not welcome election outcome. Stuart i find it a very sad commentary, lauren. Good report. Susan lauren i know. Stuart 10 51. You know what that means. Brian kilmeade joins us. Address the violence in philadelphia overnight. It was a riot essentially. I think there are political implications from this. For example, philadelphia, pennsylvania, its a swing state, i want to know what joe biden think about the defunding the police or reallocating funds for the police. I think there are political i amcations for a swing state. What do you say . Joe biden says im also for police but also open to redirecting money. He said that before. The problem with joe biden is, he is not for defunding the police but everyone around him is. When it comes to Law Enforcement, when has he spoken out organically what happened last night in chicago, portland, seattle was abhorrent . What is going on in new york i cant stand. When pressed he does not answer. When not pressed he doesnt. He wants no part of it. Most of his Democratic Base feels police is part of the problem. That said, that is not true. 30 cops hurt, a man charging at cops with a knife, he was shot, africanamerican, black, all of sudden a racial issue. Time to loot the stores. Take inventory, destroying businesses already stressed. And ill tell you, keep in mind, who is in philadelphia last week . President obama. That is where he broke in to help out joe biden. There is concern already in pennsylvania. Concern already among africanamericans who stayed home instead of voting for hillary, were out to vote for president obama and trying to get them going again. Im not sure that this is something that would exercise them but i would say the people of philadelphia, the people of pennsylvania, they dont want the anarchy. Stuart yeah. The suburban women around philadelphia, i dont think they want what happened last night in philadelphia. But, brian, while we got you, i want to get your take on Hillary Clinton. She is still claiming that the 2016 election was stolen from her. Hold on a second. Dont explode just yet, brian. Watch this. I was a candidate who won, nearly 3 million more votes and people fight about it every day online because there is a deep sense of unfairness and just, dismissiveness towards his victory. He knows it. Stuart im not quite sure i understand that. What do you think . What do you take from that, brian . This is every child watching, if youre sitting there with your parent, youre forced to study on zoom and it is your lunch break, this is how not to act if things dont get your way. She blamed the james comey letter. She blamed disinformation from rightwing republicans. Wait a second opposing Campaign Says something you dont like about you . Since when is that allowed . That is called every day in every campaign big and small. She said she was born to be president , right there, that is the problem. As if it belongs to her. She deserves it. Bottom line it went from how did hillary lose, how did she become the nominee. Among democrats the problem with hillary, she is totally unlikeable. Not that she is not smart. Not that she is not experienced. She is not likeable. When President Trump came in and was the outsider, people dismissed him as a legitimate candidate, even republicans. We all know what happened. This is how not to lose. In fact, stuart, think about it, stuart, the first time we ever heard that donald trump won was only over the last six, seven months when the democratic nominee, when we knew it was joe biden was starting to strategize how to win this time. Wait a second. Are you admitting that donald trump won . It wasnt the russians or the ukrainians . It wasnt jill stein . Youre saying the president actually won . And now that they see the pattern coming out again, theyre wondering who do i blame this time . In fact you have twitter, facebook, youtube, all other outlets conspiring to make sure he doesnt win. Stuart there is another trend coming out this time, same as 2016. The Poor Campaign being run by joe biden. He is just not out and about. Hillary was criticized getting out and about in michigan in 2016. The same pattern being repeated now. Can you imagine if a team told you were better off with you on the bench . His team is saying, joe, i thought about it. The best way for us to win. We looked at the pie charts and the bar graphs for you not to talk. Think about it on the debate, fracking comments, getting rid of oil and gas, the numbers he got wrong. What he said the other day getting free college and numbers are way off. When he is talking about free College People already getting financial aid, that is not even an issue. Every time joe biden talks they have to walk something back. You saw when he came out and called those Trump Supporters chumps the other day. Is that the wisest thing . Now they say i won. He thinks he won. Im going to hold the ball and stay home. He got so embarrassed he quickly put together a press conference. Went to pennsylvania yesterday. You have another guy doing the exact opposite. Americans respect work. Stuart right up against a hard break, brian. You know about how that works. Mr. Kilmeade, see you next week. Big show coming up. Mercedes schlapp, cassie smedile, ed currency, all on the their hour of Varney Company. Im kalvin, and theres more to me than hiv. Im a peer educator,. A fitness buff,. And a champion for my own health. I talked with my doctor. And switched to. Fewer medicines with. Dovato. Prescription dovato is for some adults who are starting hiv1 treatment or replacing their current hiv1 regimen. With. Just 2 medicines. In 1 pill, dovato is as effective as a 3drug regimen to help you reach and stay undetectable. Research shows people who take hiv treatment as prescribed. And get to and stay undetectable. Can no longer transmit hiv through sex. Dont take dovato if youre allergic to any of its ingredients. Or if you take dofetilide. Hepatitis b can become harder to treat while taking dovato. Do not stop dovato without talking to your doctor,. As your hepatitis b may worsen or become lifethreatening. Serious or lifethreatening side effects can occur, including allergic reactions,. Lactic acid build up, and liver problems. If you have a rash and other symptoms of an allergic reaction,. Stop taking dovato and get medical help right away. Tell your doctor if you have kidney or liver problems, including hepatitis b or c,. Or if you are, may be, or plan to be pregnant. Your doctor may prescribe a different medicine. Than dovato if you plan to be pregnant or if pregnancy is confirmed during the first trimester. Dovato may harm your unborn baby. Use effective Birth Control while taking dovato. Most common side effects are headache, nausea, diarrhea, trouble sleeping,. Tiredness, and anxiety. So much goes into who i am. Hiv medicine is one part of it. Ask your doctor about dovatoi did. We need to get back to work, open schools, open businesses and let this virus run its course. That does not mean not protecting the vulnerable. Guess what, joe ooh biden and Lori Lightfoot . When you shut your economies down, youve got no tax revenue to spend on those you claim to hold so dearly to your heart. Were a bitterly divided nation, and the Federal Reserve money is not making it to main street. They can send checks directly to peoples homes, and they could do it tomorrow if they get their act tomorrow. Look, the chances are slim when you have someone like nancy pelosi as speaker of the house. Joe biden, its shameful that he wont call out his own party. Stuart dont ever say that theres no opinion expressed on this program. [laughter] you just saw a montage of what you missed. 11 00, 11 01, to be precise. Got a big show still to come, im going to repeat myself, Lordstown Motors ceo on deck for this hour. Were down again on the dow, off 650 yesterday, down 100 now. Look at the nasdaq, a half percentage point higher. Big techs doing okay. Now this. The far left smells an opportunity. They know that joe biden is beholden to them. He cant get elected without their support. They are piling on the pressure. They want socialists to run a future biden administration. They want socialists to shape our government. Right after the senate voted to confirm Justice Barrett, three members of the farleft squad had the same response, expand the court. Thats what they all said that. That means pack it with new members to insure liberal Supreme Court rulings. One squad member, ayanna pressley, said we must legislate are our values. Whoa. That is precisely what the court does not do. It does not legislate. But with the socialists, it would. Biden waffles about establishing a commission to look at the packing issue. You know what that means, hell pack the court and placate the socialists. Last week politico reported that Bernie Sanders would like to be labor secretary in a biden cabinet. Now, that would be radical, wouldnt it . How to cripple capitalism 101. Heres another appointment the left is pushing, Elizabeth Warren as treasury secretary. Ill call that movie night mare on wall street. Remember, the biden camp has a series of committees mapping out future policy and personnel. The far left plays a very big role in all those committees. They have lever range, they have in leverage, they have influence. They dont have control of the nat, they dont need that. All they need is for joe to win the oval office, then they can staff out the cabinet. If that doesnt work, they just wait joe out because Kamala Harris is the most lip liberal of all liberal of all senators. Watch out. A socialistleaning government is much closer than you may i think. The third hour of Varney Company about to begin. Stuart today President Trump holds three rallies in three different states. Meantime, joe biden will hold two campaign events, both in georgia. Cassie smedley, rncs deputy communication director, is with us now. Is the president doing all of this barnstorming because he has to . Hes only got a week left, and hes behind, he has to do this . Yes, because he wants to do it. The president we know that the president loves being out in the country. I think thats where he gets his energy boost. But he wants to fight for your vote. He thinks you deserve that as a voter, to have your vote be fought for. Think how hard hell fight for you in office. Thats what weve seen over the last four years. And then juxtapose that to joe biden, the big event yesterday, the big surprise event was 15 miles from his house. Thats it. Hes not willing to fight for your vote. Do you think hell really be willing to fight for you . No, hes going to fight for the socialist squad, the socialist, marxist mantra but not for you. And thats what were seeing between these two visuals. Stuart okay, look, the president held three events, i think it was two rallies and an event in pennsylvania yesterday. Im told, and i want you to confirm or deny this, im told he got 50,000 people to those events. Is that accurate . Id say that might even be conservative. But, yes, were seeing that when you put the decision to the voters, going out and hearing from the people who aring asking for your vote, people say i want to go out. I want to have an opportunity to hear from the candidates, and theyre showing up in droves. The enthusiasm is off the charts, cant wait to be out there this weekend myself, and it is incredible what were seeing. This is a response from the American Voters that says keep fighting for us, mr. President. We dont believe what we hear on the news, we dont like what we hear on the news, or we want to keep hearing from you, keep doing what youre doing, and were going to show up on election day for you. Stuart 30 seconds left, cassie. Can you tell me definitely that the president has moved the needle in the polls, in the way people are feeling . Has he moved the needle towards him . Yes, absolutely. And just if you dont believe it in the crowds, if you dont believe it in the polls, believe it in what were seeing in our enthusiasm. Saturday alone, one million door knocks. That is from volunteers, from people who are giving up their time, taking their families with them to go out and spread the stuart wait a minute, on saturday [inaudible] stuart on one day, saturday, you turned out a million volunteers who knocked on doors . Thats a million volunteers turned out, right . Thats huge. Im sorry, we made a million door knocks. We knocked on 3. 5 million doors last week in total, but a million on saturday. That ease spew thats enthusiasm. These are hard working americans who are spending the time with their family out fighting for our president because its that important, this election. Stuart cassie, thanks for joining us. We wish you the best of luck out on the campaign trail this weekend with. See you later. Thank you very much, indeed. Staying on the election and actually trying to link it to the stock market, i notice that jpmorgan strategists say a trump win is the best Case Scenario for the stock market. Okay, thats one scenario. They think its the best one. David left witch is with us. He comes to us from ubs. I want to see how you think the market stacks up. First off a, a trump win. You agree with jpmorgan that that would be very good for stocks . Yeah. In our view, its going to be sort of a neutral event for stocks. I think the biggest driver, stuart, of the market over the next probably 1224 months is just going to be the recovery from the pandemic. And i think whoevers in office is going to be focused on defeating the pandemic and then getting this economy back on its feet. So in our view, whether its a Trump Victory or a Biden Victory with a unified congress, you know, we think both of those are sort of neutral that they keep us on the path of recovery from the pandemic. Stuart david, really . You think that if biden wins the white house, the democrats take the senate and hold the house, unified democrat control of the executive branch, the legislative branch, thats neutral for stocks . Really, david . Yeah. So our we run the numbers here. So even if you look at the Spending Plans that biden has put forward and you also combine them with the tax plans that he has, we think youre looking at a net stimulus to the economy. And as a result, therefore, we should see a boost to Economic Growth coming from those plans and, therefore, corporate profits, sort of the outlook for corporate profits really doesnt change. Its a different set of mix under a Trump Victory. You know, probably less stimulus but also no tax increases. Netnet you get to a similar place, and i would say still the overarching, i think the overarching driver here is just the recovery from the pandemic. Stuart do you think the market will be a little worried by an Elizabeth Warren at the treasury or a Bernie Sanders in the Labor Department . I mean, wouldnt you say that the market would be a little upset with that kind of thing . Yeah. I mean, look, i think we talked about this a couple weeks ago. I think in terms of the financial sector, i mean, its not clear that theres a need for any type of regulatory change. I mean, the banks have kind of come through this crisis with, in pretty good shape. So i think the incentives to see any type of, you know, big change on the regulatory side for financials is just not there. And plus youve got, you know, the fed which is a big actor in terms of regulation, theyre, you know, jay powells in office until the beginning of 22. So, you know, or we just dont think theres going to be a huge change in terms of financials. And then, yeah, in terms of the labor market, i mean, a lot of this would have to go through congress and, you know, thats, you know, weve got some, youve got moderate democrats in the senate that are going to have a lot of sway in a senate thats very closely divided. So we think a lot of the more radical proposals are probably going to have a tough go in the senate. Stuart all right, david. I hope youre right but i think youre wrong. Willing to disagree here. Im sorry about that. I just dont see a unified democrat government, legislature and executive branch. That would send chills down my spine. David, it doesnt send chills down your spine apparently, but there you go. Well see you soon. Im going to change the subject and talk about pfizer. Theres news there on the virus vaccine. Some good and bad. Delays expected, they just said the crucial vaccine data expected from pfizer this week now appears unlikely to come before the u. S. Election. We have to wait a little bit longer, but the ceo says he is cautiously optimistic that the vaccine will work. Speaking of the earnings call, the covid vehicle seen, if successful, could be deployed to the public one week from the time they know, theyve applied for fda emergency authorization at the end of november, but thats only if they get the preliminary data. Stuart i wonder if the timing is a negative for the stock market. I wonder if thats one of the factors bringing us us down. I think we sway and move, but obviously covid cases as well. Stuart thats true, for sure. All right, then we have this, Indoor Dining banned in a chicago suburb. That starts tomorrow. Cant eat indoors. Lets point out that its already snowing in the midwest. How on earth do you make money when you cant eat outside because its snowing, and i youre not allowed to eat indoors . Ed renzi has sop thoughts on that, and hes on the show. Historic moment as Amy Coney Barrett confirmed to the Supreme Court, but you might not have known about it depending on which Mainstream Media outlet you were watching. Some of them didnt cover it at all. Well be back. Nonvalvular afib can mean a lifetime of blood thinners. And if youre troubled by falls and bleeds, worry follows you everywhere. Over 100,000 people have left blood thinners behind with watchman. Its a onetime, minimally invasive procedure that reduces stroke risk and bleeding worryfor life. Watchman. Its one time. For a lifetime. Its moving day. And are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. It only takes about a minute. Wait, a minute . But what have you been doing for the last two hours . Delegating . Oh, good one. Move your Xfinity Services without breaking a sweat. Now thats simple, easy, awesome. Xfinity makes moving easy. Go online to transfer your services in about a minute. Get started today. [inaudible conversations] stuart riots unfolded overnight in philadelphia after an armed black man was shot and killed by police. 30 officers injured, one run over by a pickup truck. Watch this. Oh , oh, my god, he gonna die stuart the female sergeant who was run over in the hospital with a broken leg. It all started when Police Responded to a domestic call about a man with a knife. He approached two officers with a weapon and told him to drop it, they fired several shots, hes dead. The officers have since been taken off active duty. This could have election implications because it occurred in the battleground state of pennsylvania where joe biden holds a slight lead over President Trump. Were a week from that election. One week precisely. 62 Million People have already made up their minds. This is early voting, 62 Million People have done it. Come in, mercedes schlapp, trump 2020 senior adviser. Mercedes, how do you know if those 62 million voters are swawing in your direction . Swaying in your direction . Look, we are confident that were going to be overperforming especially when it comes to election day. We know that the president is winning in terms of early inperson voting in these battleground states. And remember for the democrats, while there could be a lot of absentee ballot requests, that doesnt necessarily translate to a vote being cast. And one advantage that the trump team has is a strong ground game. We chase down those absentee ballots, thats why were destroying the democrats lead here in florida where im at today, and were also seeing in other states like, for example, nevada where you have inactive Republican Voters that are outperforming democrat inactive voters. So this is a phenomenon that were seeing. Were also seeing in these rallies that about 30 of those people awe tending the rallies, theyre attending the rallies, theyre not even republicans. Youve got between 10 and 20 of those rallygoers who didnt even vote in 2016. Were making significant inroads, and weve to got the strongest ground game right now. And thats something joe biden simply does not have. Stuart im told that democrats dominated the early mailin balloting. Republicans tended to dominate the inperson early voting, and you think that republicans will dominate election day voting. Oh, absolutely. Stuart is that right . Absolutely. I think that youll see the democrats will underperform. Theyre going to run out of voters on election day. What we have seen time and time again in these battleground states is that republicans want to vote in person, and they want to vote on election day. Were out there saying just dont wait until election day, get out early to vote. Weve got several days before election day, itll be long lines, we want to make sure that they get to the polling station, vote for the president early. Ill tell you something, stuart, the enthusiasm for this president is liking something ive never seen in republican politics. Where you have even organic events, the campaign doesnt even organize, whether it be a caravan, here in miami they had a humongous caravan just last week. People who werent involved in politics that are now saying, wait a second, because of President Trump and because hes the one thats going to keep our economy growing, keep our country safe, we need to get him back in office. We know joe biden is weak, we know joe biden is corrupt, and hes married off to the socialist branch of his party which is incredibly dangerous and troubling for Many Americans out there. Stuart mercedes, a couple of days ago president obama if visited philadelphia, rousing up the troops. Last night there was a riot in philadelphia. What are the imply cautions for the state of pennsylvania implications for the state of pennsylvania from last nights violence . I think one of the things that the president has talked about for quite some time is how hes going to be the president of law and order. He will not tolerate the ray chaos on the streets that many of these democratrun cities have allowed. Weve seen cities like in milwaukee, in portland where there has been this chaos where youve seen this rioting, and thats simply unacceptable. And when the president has stepped in and offered to Deploy National Guard is when youve seen the riots stop. Its when you see control in these cities. Remember, they are rioting, looting these Small Businesses, many minorityowned businesses, and were not going to allow for that. And so for us, were going to for the president , hes made it very clear that once hes offered federal assistance of the national guard, theyve restored peace in the cities like they did in kenosha and in other places as well. So for the president , thats a key priority. Thats why hes received the endorsement of so many of Law Enforcement associations. Sadly, joe biden cant even mention one name of a Law Enforcement association thats supporting him. Stuart i want to bring this to your attention, weve just got a brand new photo, and it shows Supreme Court Justice Barrett now being sworn in by chief justice john roberts. That happened this morning. But look at these numbers from last night, the evening newscasts. Nbc spent 50 seconds on the swearing into the Supreme Court but justice thomas. Cbs spent 50 seconds. Abc didnt cover it at all. It was a historic moment, but viewers didnt see it. Many viewers just did not see it. What do you make of that . Well, theres nothing more than a noise the liberal media than basically supporting a conservative woman like Amy Coney Barrett, someone who is an inspiration, someone who is brilliant, highly qualified for serving on the Supreme Court. So i always say what a double standard from the Media Outlets that are not covering this historic confirmation of the fifth woman on the Supreme Court. If it would have been a liberal type of justice, someone who would legislate from the bench, they would have done extensive coverage. It just shows the media bias that exists against conservatives, against someone like Amy Coney Barrett, and she deserves better than that. But let me tell you, i apple so proud of this president i am so proud of this president because of the fact he stood strong, we were able to get through this confirmation process pretty good. I can remember the kavanaugh days [laughter] and one thing is, is because she herself as a. Nominee proved to those senators and to america that not only is she highly qualified, but that she will be a strict constitutionalist, someone who respects the constitution on the Supreme Court stuart okay. And really is a remarkable inspiration to all women out there. Stuart were in the final sprint, youre very busy. Thanks for taking time out to be with us today. Thank you so much. Stuart mercedes schlapp. Im going to show you big tech, put it up on the screen, please. Theres a lot of talk about the big tech bubble, that it might burst. Green light capital, one of the Hedge Fund Titans that people listen to on wall street, he just wrote in his annual Third Quarter letter saying this is an enormous tech bubble. He call this before back in 2016, and even he admitted he was a bit early. But this time around in 2020, he says this is a reemergence of the early 2000s, remember the dot. Com bubble . Stuart i was there. Yeah, thats right. And the reason, he says, is if you look at the ipo mania, a huge market concentration in just a few stock names namely, apple, amazon, microsoft and if you look at the outsized reactions to stock splits, that shows we are in a tech bubble. He also talks about the political front, saying that the center is collapsing and we are at perilous times in American History when it comes to politics. Stuart well, those are strong words. Underperformed though because he lost 36 in 2018, lost 20 in 2015, so theres a lot to prove here. But hes also famous for shorting tesla stock. Remember that . Stuart yes, thats right. Maybe hes wrong again. [laughter] only time will tell. Here we go. Stuart im not saying that. One of the worlds biggest casino and resort companies is considering selling its properties on the vegas strip. Well tell you which one. And weve been showing you these long lines for early voting in florida. 2 Million People have cast their ballot in that state in person so far. Ed renzi is one of the volunteers at an early voting site. And hes going to be on the show. I want to know what its like to be right there in the middle of it all on the ground. Well be back. Im searching for info on options trading, and look, it feels like im just wasting time. Thats why Td Ameritrade designed a firstofitskind, personalized education center. Oh. Their awardwinning content is tailored to fit your investing goals and interests. And it learns with you, so as you become smarter, so do its recommendations. So its like my streaming service. Well except now youre binge learning. See how you can become a smarter investor with a personalized education from Td Ameritrade. Visit tdameritrade. Com learn but when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. Proven to significantly reduce hallucinations and delusions related to parkinsons. Dont take nuplazid if you are allergic to its ingredients. Nuplazid can increase the risk of death in elderly people with dementiarelated psychosis and is not for treating symptoms unrelated to parkinsons disease. Nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. Tell your doctor about any changes in medicines youre taking. The most common side effects are swelling of the arms and legs and confusion. We spoke up and it made all the difference. Ask your parkinsons specialist about nuplazid. Stuart check of the markets, were down 130 on the dow, but were up 57 on the nasdaq. Whats that tell you . Next, more than 6 Million People have already cast their ballot just in florida. And look whos here, ed renzi. Now, he happens to be the chair of the farther phat brands. Heres a firsthand report from the trenches. Whats it like at that Early Voting Center . Well, i think its a civic duty to participate in this great election were facing. Three things struck me, stuart, that was kind of interesting. One, just the sheer number of people, i think mr. Turner, the supervisor of elections in sarasota county, has done a fabulous job on security, making it easy, and its almost festivelike. The other thing that surprised me was the number of brand new citizens who have just gotten their citizenship coming in to vote and celebrating and taking a photograph in front of the voting site. It was wonderful to see that joy and happiness. One young man has his citizenship and his wife doesnt, shell get it next year, and she was just singing his praises for having voted. And the last thing was the young families coming in with children, walking in so their kids could see the process. I think our hands, the future of the United States are going to be in good hands for a long time to come. Stuart which city the sheer numbers were overwhelming of the people coming in in droves stuart which city . Yeah, sarasota county. I was at the park at bee ridge. Stuart all right. Sarasota, the city of share toe see eta. Stuart a little bit north of newspaperings. Thats all i can correct. [laughter] stuart next one, this is specifically for you. Starting tomorrow, Indoor Dining and bar service will be banned in the chicago suburbs. And, by the way, its snowing there. So how on earth can you survive if you cant serve food inside and nobodys going to eat it outside whilst its snowing . Weve been through this before, ed, but it seems to me that the authorities in some cities in this country are deliberately driving the Restaurant Business out of business. I cant believe whats going on here. I cant with either. In fact, Governor Pritzker and mayor lightfoot are really exhibiting incredibly e bad leadership. There are solutions to these problems. Tell the Restaurant Operators what you want, what the end result is, let them do it. I know theres an organization thats forming in the suburbs, theres 4,000 or sod members right now so sod members that are called stay strong, stay open. Theyre banding together to really take to the streets to say were not going to comply. Were going to go bankrupt. Chapter 11 is the only solution that lightfoot and pritzkers idiocy brings. You know, illinois been run for the last 50 years or so by the democrats. They have failed in so many ways. They bought votes with extreme Pension Plans that they cant pay for. Pelosis holding up legislation right now to try to get them money to cover their pensions because she doesnt want to lose those votes. And the reality of it is they need the fix their own problems, and shutting down restaurants, forcing bankruptcy, putting these Small Business people out of buzz is just insane, and its not going to work. Ultimately, the American People are going to rise up and say enough is enough. You know, stuart, that there are 313 people a day, over 500,000 people have moved out of illinois in the last four and a half years. Its all because of insane taxes, overregulation and incensingtivity to the guy on the street thats trying to earn a living for his family. Its critical there. Stuart by the way, ed, in italy where theyve just reimposed some strict restrictions, there were street demonstrations and a near riot. I think youre talking about pretty much the is same thing. Looks like its building here in the United States. Ed renzi, im sorry im out of time, but thanks so much for being with us. Gotta run. You know how it is, hard breaks. Go vote. [laughter] stuart okay. Im staying in chicago here. Weve got a new report that says property taxes in chicago just skyrocketing in the past two decades. But listen to this, Grady Trimble is there. Hes going to tell us that the city could see another tax hike soon. Go ahead. Report, please, grady. Reporter yeah, stuart the, thats in the mayors if the mayors proposed budget passes. Property taxes in chicago have increased by 115 over the past 20 years. Compare that to the cost of living which has increased by only 36 and wages which have gone up only 57 . This is according to a new report from the cook county treasurer. She says she did the report because people are flooding her office unable to pay their taxes. And heres what she has to say about the ever increasing taxes in chicago and the surrounding areas. Everyone, the taxpayers, cutting back during the pandemic, but the property tax bill is going up. Its not working. And this comes as the city council is milling over or mulling over the 2021 budget. It has a 1. 2 billion shortfall. One of the ways mayor Lori Lightfoot is proposing filling that is with a gas tax increase and raising property taxes. Stuart . Stuart here it comes. [laughter] its like a Freight Train coming right at you. All right, grady, thank you very much, sir. All right. Now, interesting story here, bank fees. I dont pay much attention to them, but i am told that we, collectively, are now paying record banking fees. Lauren, are you going to tell me why . Well, the reason is rates are low, and the banks need to make money, and consumers are cashstrapped, so theyre inswiping their credit cards less. All that is bad for the banks. So what theyre doing is charging a record fee of 15. 50 for interest checking accounts that dont have balances of about 7500. Meanwhile, those interest accounts, the interest is about. 04 . Thats tied for a record low if you look [laughter] i know. It doesnt even pay off in the end e. And also the fee if you overdraw, that did hit a record high as well of about 33. 50. Americans are hurting. The banks are getting squeezed, and they are slowly starting to squeeze you and me as well. Atm fees have not gone up, by the way. I hate the atm fees. Ill drive 3 extra miles to save 3. Stuart you know how i get cash when i walk into the bank branch . Write a check for cash. I do that sometimes too, despite my young age. [laughter] stuart youthful inexperience, thats what it is there, lauren. Susans going to chime in any moment, but were not going to let her. [laughter] condo sales mute. Condo sales are surging in south florida, and people are asking for a lot more than just a fancy view of the i city. No, they want, like, onsite doctors. Ill bet thats a bug hit with buyers. Were going to tell you all about it too. A brand new billion dollar resort opening in downtown las vegas this week with. Not the strip. This is a big deal. Were going to talk to the ceo. Why downtown instead of the strip . In vegas . Well be back. 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. I have a soft spot for local places. Its not just a work environment. Everyone here is family. Gonna go ahead and support him, get my hair cut, leave a big tip. If we focus on our local communities, we can find a way to get through this together. Thank you. If you are ready to open your heart and your home, check us out. Get out and about and support our local community. We thought for sure that we were done. And this town said not today. Stuart all right, were still down 125 points for the dow, were still up 72 on the nasdaq. Split markets. Now, weve got a report says Las Vegas Sands could just ditch las vegas, walk away. Where are they walking to . Looking to sell off their biggest casino, 6 billion. Where are they walking off too . What about asia . They have lots of outlets, and did you know that the u. S. Only represents around 15 of their revenue . Thats a sign of the changing times, isnt it . We should point out that Las Vegas Sands, largest Casino Company in the world, its founder, Sheldon Sheldon adelsof the biggest trump donors. Just recently he injected 75 million into the trump reelection campaign. But i was shocked to see how small and how shrinking the u. S. Business is. Stuart youve with the to macaw, right . A ma coo, what strikes you is the amount of money put on the table. Yes. It is the largest gaming hub in the world. Stuart absolutely. Four times the biggest strip. Stuart at least. Its been that way for some years. Asia is heavy duty. Yeah. Stuart thanks, susan. This on a related note, a new billion dollar resort opening in vegas tomorrow. Derek stephens is the ceo of circa resort and casino. Derek is with us now. I know there is a delay on this transmission if, so i have to ask you individual questions and then give you time to respond. So heres the first question i why on earth are you spending a billion dollars downtown when everybody else goes to the strip . Well, i dont know, stuart. You know, this has been a project thats been in the works for five years. Remember, downtown las vegas has an awful lot of tourism. When i bought my first casino in downtown las vegas, that was 2006, called the golden gate. Bought fitzgeralds which turned into the d in 2012, and this projects been in the works here since 2015. The one great thing about downtown the las vegas and the fremont street experience is the visitation. In 2019 the fremont street experience did 24 Million People in visitation. This was the second most visited Tourist Destination in america. So while were pretty bullish about downtown las vegas and, well, you know, the strip and downtown, were really not competitors. Were complementary. Its only a couple miles away, and we all get along pretty well. Stuart im glad you straightened me out because im a frequent vegas visitorrer. Dont go downtown very much, but i promise i will. Your new casino, im told it has new safety features . Because of the pandemic or Something Else . Describe it. Yeah. We had a couple of things. Really not because of the pandemic. In 2017 we designed a couple of things that i think are pretty unique, and people like to talk about them in todays environment. First, we built an hvac system thats underground so all the heating and cooling comes up from the ground. We sit on a raised floor in both levels of our casino. Number one, its more efficient. But, number two, it also provides the air flow that goes directly up. And in an environment where smoking is allowed, we believe this provides a much cleaner air environment for both smokers and nonsmokers. So thats the one element from an hvac system that we think is different. And then, and then with one of our major awe tractions, which is called stadium swim, this is an outdoor pool aqua theater where its six pools, youve got the sun, the fun, the music in las vegas, and you have you have 143foot screen where you can watch the games, and you have all the odds up there. But what with we did is back a few years ago we agreed that we really wanted to focus on having the cleanest water in any pool. So we, well be able to change our water over five times the rate of new other pool system. And then with quite a bit of the uv technology, were really going to focus on selling some clean water while youre having fun in the sun. Stuart derek, that was fun. That was excellent. We found out where downtown is. Susan li, my colleague here, didnt know. Were interested in that, 2 miles away from the strip, good stuff. And we find out its got all these millions of visitors. Didnt know that either. Derek, the best of luck with your own casino. Wish i could be there, best of luck to you. Derek stevens. Now this, miami, a spike in condo sales. But, ah, ashley, you know the story here, the buyers want more than just a view, dont they . I think certainly do. Back in april with the lockdown in place across the cup including south florida, quarantining in a condo was not popular. We saw an exodus into the residential areas outside of denselypopulated areas. We certainly saw that in new york and, oh, yes, elsewhere including miami. Well, now the operators of luxury condo buildings in south florida are rolling out the red carpet and a lot more to try and attract people back to the highend highrise on the beach. For instance, at the ritz carlton residences in sunny isles beach, buyers can expect live entertainment, beach butler service. How about that one . [laughter] beach butler, service. And private chefs dinners. And guess what . It appears to be working. All four penthouses in that building is have now sold. A luxury condo building in nearby surf has installed call buttons allowing residents to simply sum money one of the buildings fulltime butlers in an instant. Also you mentioned this before the break, Health Services proving to be an attractive option with so many people avoiding crowded doctors offices. Condo buildings are finding memberships in a private medical practice are proving to be a big hit with buyers. And guess what . All of this is working according to caldwell banker. Condo sales last month in south florida up 25 over the same period a year ago. You just want to have some of those extra perks like a beach butler. Stuart well, look, ashley, its very clear, isnt it . All it takes is money. It really is that simple. Thats all it is. There you go. Thanks, ashley. [laughter] youre welcome. Stuart got to show you something. The electric truckmaker went pluck this week, investors seem to like them. Not today, theyre down over 7 , but were going to bring Lordstown Motors ceo to you in just a moment. My name is henry. Working within amazon transportation services, i really saw the challenge of climate change. We want to be sustainable, but when you have a truck covering over 300 miles, or you have flights going hundreds of miles, its a bit more challenging. We are letting the data guide us to the best solution. Its inspiring to try to solve a problem that no one else has solved. Thats super exciting. Stuart Lordstown Motors is officially trading under the ticker ride. The stock surged nearly 20 on its the debut monday. Today its backing off to the tune of about 7 down. Look whos with us, steve burns. He is the ceo of Lordstown Motors. Steve, congratulations on a successful debut. Youve got a lot of competition in the electric truck field, so let me ask you this youve got the endurance pickup truck, all electric. Recently on this program we featured the hummer, the new electric hummer. It goes from 060 in 3 seconds, and its got 1,000 horsepower. Can you compete with that . Well, were kind of in a different lane. Were selling to workers, to fleet customers, so we have 600 horsepower which is quite a bit, but were, were not a luxury vehicle like that. Were priced down, were priced the same as a regular internal combustion. Is so were about commercials. Stuart i can get a ford f150 gasolinepowered or electric, i think, for about 5060,000. How much is an endurance pickup . Yeah. Were 45,000 with a tax credit. Stuart do you have those little motors on each wheel so that yes. Stuart you do . You can steer the each wheel independent lu. Yep. So its true fourwheel drive. We have a motor and a computer on each wheel. Stuart what else have have you got to set you apart from the competition . Yeah, great question. Well, were we get 75 i mile per gone equivalent. So just imagine telling a fleet operator after 95 years all the pickup trucks get about 15 miles per gallon and this one gets 75. We intend it to be the safest pickup truck, right . We dont have a big v8 in there, so a lot of crush zone. We handle great. We handle like a sports car. We get great traction because of the true fourwheel drive. And, of course, its the greenest. So its the most economical, the greenest and the safest vehicle. Thats our goal. Stuart and all of it made in america. All made in america, correct. Stuart am i right in saying with an electric motor, its easier to build a car because theres not so many moving parts compared to a combustion engine, is that accurate . Yeah, the physical part is easier. Software and kind of the smarts that go into it are harder, but you get to, obviously, softer is easy to multiply e once youve got it done. Stuart when can i actually buy one . You can buy one now, but you can take delivery e in september. Stuart of next year. Of next year, correct. Stuart 4550,000 bucks out the door. Yeah. Stuart okay. So i know youre going to hedge your bets, but who do you think will be the best candidate for ohio . Because thats where you produce. Trump or biden . I know youre going to hedge your bets because you dont want to say this guys better because he might lose, right . Well, you know, the truth is weve had great support from both sides of the aisle. You know, we were at the white house a couple weeks ago. Weve had tim ryan here, our congressman, and we who doesnt like jobs . Were restarting a shuttered factory in the midwest. Were bringing the innovation here. So weve enjoyed great support from both sides. Stuart steve burns, youre going to be a popular guy with the endurance pickup truck. Thanks for being on the show, we appreciate it. Thanks, stuart. Stuart sure thing. Check the big board real fast, were down 92 points. 27,592. And theyre going to play the beatles. We will be back. With advanced modeling. To fill portfolio gaps and target specific goals. Strengthening client confidence in you. Before investing consider the Funds Investment objectives, risks, charges and expenses. Go to flexshares. Com for a prospectus containing this information. Read it carefully. Nonvalvular afib can mean a lifetime of blood thinners. And if youre troubled by falls and bleeds, worry follows you everywhere. Over 100,000 people have left blood thinners behind with watchman. Its a onetime, minimally invasive procedure that reduces stroke risk and bleeding worryfor life. Watchman. Its one time. For a lifetime. But when i started seeing things, i didnt know what was happening. So i kept it in. 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Stuart i think we just got time to get this in. News on airbnb. Susan chosen to list on the nasdaq instead of the new york stock exchange. No date just yet. Reports say they will raise 3 billion, end of november, early december, before the end of this year. Stuart is that a big deal, nasdaq . Susan yes. You get a lot of fund flows and means money, commissions fees that the nasdaq wins. Stuart waiting for them to go public. I would like to buy some stock. There you go. As we leave you the dow is coming back a bit. Were only down 57 points. But look at the nasdaq. Watch out for microsoft at 4 00 this afternoon. Neil, its yours. Neil stuart, thank you very, very much well follow the earnings parade continues. It gets lost in the sauce like other Political Developments like right now. Were waitings to hear from the president of the United States. He will leave on another whirlwind tour of battleground states. First stop michigan, wisconsin, nebraska. Busy travel on the day we see some polls in the battleground states are tightening and early signs that he might be winning back some groups that were sort of falling off his bandwagon. Again any detail like this could be important in deciding who gets those 270 electoral