Transcripts For FBC After The Bell 20240712

Gyms theaters, for about a month. Were following all of that. We have fox twist Business Team coverage. Grady trimble, in chicago. New restriction being imposed. Edward lawrence on the tech hearing in washington. We have to first hear from Ashley Webster with the market selloff. What a day. Ashley all proving to be a toxic formula for the markets as Investors Cash in and the vix fear gauge hitting the highest level since midjuly. As you just said, connell, the dow, the s p, the nasdaq all down 3 1 2 on the day. We saw a little extra selling heading into the bell. Maybe that news out of france, adding to germany on a national lockdown. May be a lockdown light. Never the less, businesses will be closed, that having impact. Shares of hotels, airlines and cruise lines all hit hard as covid fears grow for the economy. Check out the airlines. American down 2 1 2. Delta 3 1 2 . Southwest four 1 2. So on and so on. Jetblue down 6 1 2 . As for the cruise lines who just cant buy a break like the airlines, Royal Caribbean losing, well, as you can see, down 7. 3 . Carnival has been down 11 all day. Hotels, wynn resorts 4 1 2 . Mgm losing more than 4 . All 11 sectors in the s p fell today. The biggest laggards including energy, technology, and basic materials. We are also, dont forget in the middle of the Third Quarter season, earnings season. So far of the 206 s p 500 companies that have reported, about 83 have topped expectations. Guess what . Boeing reported today revenue fell 29 percent to 14. 14 billion but that still beat expectations and even loss of 1. 39 a share was better than expected. But the Aerospace Company gave a very pest pessimistic outlook weakening aircraft demand for the time to come and aircraft industry wont recover for another full three years. Investors turned to safety. They turned to the u. S. Dollar. They turned to bonds. The yield on the u. S. Treasury falling for the fourth day in a row. Meantime oil falling 5 5 to a fiveweek low on fears of weakening demand as covid cases rise. We found out there was a bigger build than expected in crude stockpiles. All in all, one of those days. Everything headed south, as we head, six days from the election . All sorts of news out there, connell. Most of it for the market. Too uncertain to buy stocks apparently. Connell exactly. Let me go back to the lockdown story with you, ashley for a moment. You mentioned europe. Ashley yeah. Connell you look at france, rightly so, you could call it kind of a lockdown light. They will let schools be open. Not as aggressive as they were in april and may, investor look at that, that is just the start of it. We might have to deal with that in the u. S. At some point as well . Ashley exactly. There are businesses in germany and france that will be closed. Some having to close early. Regardless it will have an impact on the economy. Europe, just like the u. S. Has been devastated by the First National lockdown earlier this year. Weve seen big riots, upset protests in italy for the last two days. People say we cannot handle another lockdown. We need to work. Businesses cannot get through another lockdown. That kind of scenario, that is whats really prompting the market here. The for that that could happen here. Well be faced with very tough questions again. Connell no doubt. Well be back to you by the way for some breaking earnings reports in the next few minutes. Ashley, thank you. On that note here, another blow to business. The illinois governor announcing a ban on Indoor Dining in the city of chicago. He cited rising rates of covid19 doing so, governor pritzker. Who is facing pushback from the chicago mayor Lori Lightfoot on all of that. It plays on what ashley and i talked about, fears of covid related lockdowns not just in europe but possibly here in the u. S. Grady trimble is live in chicago with more. Grady. Reporter and connell, it is not just here in chicago. Eight of the 11 regions defined in governor pretty kerrs reopening plan, they will face tightened restrictions as well. Were at gene and george getty an iconic here in chicago, but this restaurant and all other restaurants in the city will close dining rooms inside come friday that applies to bars as well. Gatherings are limited to 25 people or fewer as part of these new restrictions. The owner her is michelle. We talked to her a lot throughout the pandemic. You already had to close one of your locations in the suburbs of chicago. Youre hanging on by a thread here. You get this news. It has to hurt you, even more than that, the people that work for you . It is eviscerating, devastating. This is our livelihood of a family. We hold the livelihoods of all our employees on our shoulders. That is part of our responsibility. When the decision is taken out of our hands how hard you fight, it is frustrating, terrifying sad. Reporter you get the news on friday, you shut down Indoor Dining. You dont get any help. Youre left high and dry. No talk of when federal aid will come. There is no direction from the state in terms of how long, how to navigate this. This is what is happening. This is what you have to do. You have to live with it. It us affecting restaurants in different ways than other businesses. It is mentally fuss straighting. Reporter what can people do who love the place whether here in chicago or come here across the country . I would tell people that love restaurants, support them. Support local restaurants. Employees love you, celebrate your birthdays with you, and give you great service. Order dinein. Order care yesout. Support them on social media. Buy gift certificates. May not be financial, but a great review from a great experience but support them as much as you can. Reporter connell, you mentioned the pushback from mayor Lori Lightfoot. She asked the above not to go forward. Governor pritzker reiterating he will do it here and other regions across illinois. Connell yep. It is an uncertain environment there and in other places as well. Grade i did, thank you. Grady trimble there live from chicago. Lets move north across the border to wisconsin, a key state for the for the white house also a fight against the virus. Were joined by a Small Business owner, Bibby Wilkins who owns three restaurants in the milwaukee area. The governor reinstituted covid19 restriction there is. Bobby, what is the status of your businesses right now . As you could hear, as you know, wisconsin has gone to 25 but here in the city of milwaukee we have got tighter restrictions. They came through with it two days ago. It starts tomorrow. Dance floors are closed. All patrons have to be seated at all times. So, a little better than chicago. Obviously our cases have been spiking here in milwaukee. Hospital rates are higher but people cannot move around. They must be seated at all times unless youre entering or exiting the building or using the restrooms. Connell now, obviously this is a huge blow to your business which im sure had been struggling through the pandemic to begin with. Are you making it with those three restaurants . It is hard to determine. Were here in downtown milwaukee. Were stones throw away from the pfizer forum. Our rents and overhead are reliant on big events this concert season. The Milwaukee Bucks should be playing. There is not a lot of restaurants. The next step here if they go to tighter restrictions it goes to dinein and carry out. The feature is bleak for sure. Connell the governor is a democrat, tony evers. To your point the numbers dont look good in wisconsin, his basic point, quoting him, no overway to put it, we are overwhelmed. He looks at hospital rates, things we talked about, we have to do something. What would you like to see done next . More help to bridge the gap, whether state, local, federal money, stimulus certainly doesnt look promising . What do you like see happen next . There are two different things. The virus is real and out there. Small business operators dont have the opportunity to close down to keep everyone safe. We have to come up with safety measures. I think the city of Milwaukee Health department did a fantastic job. Before the restrictions we had a 70 question survey we had to fill out to get approved by the health department, how to space people, how to wear masks, sanitize properly. It was going well. We need action from the politicians, local, state and federal. The local politicians here in wisconsin, the legislation has not met since april. They havent come up with a plan. They havent worked with governor evers. The ppp loans we all know were given to Small Businesses. There was a lot of faults in that. The Small Business, the ppp loans were this to protect peoples payroll. That is in the definition of the ppp loan. It was there for eight weeks. We were using that. We were paying people whether we had jobs for them. We were paying them to protect our payroll, we knew, the staff is our family. We wanted them to be a part of us. Were paying them to be here. In the sixth a 7th week, you can use that for 24 weeks. They didnt give anymore money. Restrictions went further and further. You were done with the ppp loan in july. Here we are in november. There is 130 billion still out there. In the pp loans. The legislation closed it down middle of summer. They need to act. They need to open. Main street is hurting. There is National Testing strategy issue because the virus is real. The problem one of our employees tests positive. We need to keep them safe. We need to get everybody else tested. Those tests right now, no strategy and no way to get around it can take four days, six days. It could take a week to get back. Small businesses like myself and other restaurateurs out there cannot close down. I havent seen amazon close down because one of their employees tests positive. But for us if we shut down entire week, onefourth of our revenue which is cut in half is gone but rent and mortgages continue to be the same. Connell hope somebody, whether madison, washington, somewhere else was listening to you, bobby. Thank you for coming on. More importantly good luck. Tough times, bobby will kins up in the milwaukee area. We have to shift gears. Stay on this theme. Visa coming up on the screen, stock afterhours. Reporting Fourth Quarter results, back to ashley on visa. What do you see . Ashley you see on the screen the adjusts earnings per share, connell, coming in at 1. 12. That beats the estimate. Revenue 5. 1 billion, as opposed to estimate of 5 billion. That revenue number down 17 yearoveryear. On the earnings side down close to 20 yearoveryear but the allimportant number of visa is the number on Global Payments volume. This is the metric that they use to gauge how good the quarter was. It was up. The volume by 4 . Estimate was for a gain of right around 2. 1 . So that is a very key metric for visa and it beat that handily. Visa, like so many other stocks, has been hurt by the pandemic. People are not out in restaurants much. Yes, they are home ordering goods. Visa has taken a hit from the pandemic. By the way it is not providing outlook for fiscal 2021. This, by the way, represents the end of the fiscal year for them, september 30th. They will not give any outlook looking forward because it is so uncertain. As you can see the stock moving up 1 1 2 afterhours. Connell . Connell join the club of companies that cant give us an outlook. Thank you, ashley. The other story, mr. Dorsey goes to washington. He was joined today by mr. Pichai and mr. Zuckerberg. As well the trio of tech ceos appeared before the Senate Commerce committee. All happening less than a week before the election. They talked about their roles as content moderators. They tried to fend off accusations of bias coming in from republicans. Live now to Edward Lawrence with more on that hearing. Edward . Reporter connell it, wasnt all niceties during the hearing. It became heated at times. At the heart of the debate whether section 230 of the Communications Decency act should be change or eliminated. Senator Commerce Committee chairman roger wicker says President Donald Trump and former Vice President joe biden want to repeal it. The ceos of twitter, alphabet, googles Parent Company and facebook admit it needs to be updated but not repealed. If we were subject to a larger number of content lawsuits because 230 didnt exist, that would have likely made it prohibitive for me as a College Student in a dorm room to get started with this enterprise. It opens this hearing with calls for more transparency. We realize we need to earn trust more. We realize that more accountability is needed to show our intentions and to show the outcomes. Reporter much of the hearing focused on censorship, specifically about the story the New York Post broke regarding possible access to joe biden when he was in Office Payments to his son. In one exchange senator ted cruz asked who put big tech in charge of what can be reported . You dont believe twitter has any ability to influence elections . No. We are one part of a spectrum of Communications Channels that people have. So youre testifying to this committee right now that twitter, when it silences people, when it sensors people, when it blocks political speech that has no impact on elections. People have choice of other communication channels. Not if they dont hear information. Reporter twitter Ceo Jack Dorsey says he thinks it was a mistake for twitter to block the story and the policy was change ad day later. Still the damage for big tech may have already been done. You cant just pick and choose which viewpoints are allowed on your platform, expect to keep immunity granted by section 230. Reporter democrats on the Committee Also critical of the companies for their privacy and antitrust issues but blasted republicans for holding this hearing days before the election and not waiting in after it. Connell . Connell quite a hearing. Edward. Thank you Edward Lawrence in washington. Well have more later in the hour. The final arguments before the election. President trump and democratic nominee joe biden making their final pitch to voters in battleground states. Well break down where things stand. Plus it is barreling towards the u. S. Hurricane zeta strengthening as it takes aim towards the gulf coast, forecasters warning residents in the path after lifethey havening storm surge. There is push to stay home for the holidays. A growing message from mayors across the country as growing second wave of coronavirus, how residents are responding especially here in new york. Stick around. Connell final stretch to the election. President trump is speaking in battleground arizona today, holding a Campaign Rally there as his opponent joe biden has been slamming the president s handling of the covid19 pandemic. Lets bring in blake burman from the white house with the latest on all of this. Reporter hi, there, connell. President trump is speaking in arizona. On the border of arizona and nevada. He gets a two for one. This is crucial state for the president down the homestretch. Republicans have won five consecutive president ial elections in the grand canyon state. The polls suggest that joe biden might have a slight lead there. In the beginning of the ral hi the president looked ahead to upcoming Third Quarter gdp figure that will be released tomorrow morning, saying why he deserves another four years. Listen to him in part here. Reporter before that happens, and i dont know what it is. President trump i dont know what it is the atlanta fed predicted a big number biggest in the history of the country. Gdp will be coming it. It will be announced on the 1st, maybe a day before the 1st. If that number is not gig big you dont have to vote for me, okay . Reporter speaking of joe biden he voted earlier today. He received a covid19 health briefing. He criticized the president s rally, in omaha, nebraska, where hundreds of people were stranded in freezing cold weather. Bidens view another example of a president s lack of leadership. He get as photo top. He gets out. He leaves everyone else to suffer for failure to make a responsible plan. Seems like he doesnt care much about it. The longer he is in charge. More reckless he gets. It is enough. It is time to change. Reporter connell within the last hour anonymous has revealed himself by the way. You will remember this was the oped published in the New York Times about two years ago, september 2018. At that point identified as Senior Administration official said they were part of the resistance within the Trump Administration. Well miles taylor has come forward to say he is anonymous. He at one point was chief of staff over at dhs when Kristen Kristen neilson as running operation. The white house is disgruntled him as former low level employee, who in their words is a coward. Connell . Connell blake, thank you. One more comment from former Vice President joe biden in the speech blake referenced. His real focus was President Trumps approach to handling the virus. Here is a little more. Refusal to of the Trump Administration to recognize the reality were living through at a time almost 1000 americans a day are dying, every single day. It is an insult to every Single Person suffering from covid19 and every family who has lost a loved one. Connell with that were joined by mercedes schlapp, trump 2020 campaign advisor. You heard the former Vice President s closing argument, or part of it, is essential lip that the downplaying of the virus by the president is an insult to people who suffered as a result of it. You say what . Well that is just outrage just. The president hasnt downplayed in the virus in any way. It is a priority for the president to combat the virus. Obviously the president took aggressive and bold actions early on that saved lives. Some of actions with joe biden did not agree with, put travel restrictions on china, that joe biden called xenophobic. So for joe biden to use covid as a political strategy i think is something that is offensive and quite frankly, i think at the end of the day what we look at the fact joe biden has no plan. In fact what he has pooled together is plagarizing from the president s plan. And you know, joe biden talks about well we need more testing. Well, we are leading in the number of tests that people have taken here in the united states. Accessibility to these tests. The president announced 150 million tests that were send to Nursing Homes as well as to schools, to help insure that were able to help kids go back to school and teachers to go back to school. So here there is very clear contrast after president who wants to open up this economy panned our schools safely and responsibly versus joe biden who is, all about the lockdown which we know would be destructive to our economy . Connell that is a real economic debate. That is going on in the market as we talked about at the top of the show, whether we should impose more lockdowns or trying to continue with opening up. Now when you say the president hasnt played down the virus at all, mercedes, why does he keep using expressions were rounding the turn, turning the corner something along those hines when the numbers suggest otherwise . Theyre saying the cases are up only because of testing when again the data suggests otherwise. We see the Positivity Rate up. It not just the testing. Why does the president continue to say things like that . Isnt that essentially downplaying the virus. The mortality rate is down 85 . We learned more about covid and how to deal with covid and provide the right therapeutics. Which we didnt know about six or seven months ago. And so i think what were seeing also is the fact that we also are making tremendous progress on vaccine development. Obviously with the president initiating operation warp speed, that has been critical in moving what would be through the market quickly and getting the vaccines developed, something that would take a much longer period of time. I think the president being able to mobilize the federal government in addition to the private sector, to insure that we have the equipment we need and the resources we need, to send those over to the state around local governments has been a critical part of this. So as were going through this together, you know, our goal is to get a vaccine developed by the end of the year and as well as insure that therapeutics can get to market. Connell now with all of these questions out there the president does still continue to draw these large crowd. Were looking at the one in arizona right now. There is some case to be made he is building some momentum again going into the election. Everybody keeps saying that his path to victory is quite narrow. You heard that over and over again. I will be in pennsylvania on election day. Im looking at maps, trying to look out, what to you is the best path to victory and what is the most important state if you had to narrow it down to one or two right now . It seems like it would be pennsylvania . Is that fair . That is a good assessment. For the most part we have seven different scenarios we look at to get to 270. Obviously for the president , this is about defending the states he won in 2016 and expanding those states. And so that includes nevada, minnesota, new hampshire. I will take minnesota for instance that we lost by a little less than 1 . The reason, in 2016 and minnesota we had no resources invested in there. We had one staffer. In the final days we moved that staffer out of minnesota. This is not the case that were seeing right now. In minnesota we opened up field offices. We have a very strong ground game, stronger than we ever had in 2016. Youre talking about the fact we have 2. 5 million volunteers in these targeted stated. That is even more than president obama had back in 2008. In addition to that were looking at about 158 million voter contacts. That is knocking on doors, making phone calls. Our ground game is unprecedented. Democrats they have no ground game. So they will have very difficult time closing the gap and winning in november. Connell minnesota did come very close to joining the other three last time, 1 1 2 , thereabouts. Well watch it of course, mercedes. Thanks for coming on, answering questions. Mercedes schlapp, from trump campaign. Marriott is hoping to help americans who may be tired of working from home. The hotel chain is offering what theyre saying a day pass for members of its travel program. What it allows for guests to have access to a hotel room at select locations between 6 00 a. M. , between 6 00 p. M. Whilyoure there make use of onsite business facilities and other perks. That is from marriott. cause youre not like everybody else. Thats why Liberty Mutual customizes your car insurance, so you only pay for what you need. What . Oh, i said. Uh, this is my floor. Nooo only pay for what you need. Liberty. Liberty. Liberty. Liberty. Connell more than 100,000 residents forced from their homes. As fastmoving wildfires continue to spread across southern california. Foxs Jonathan Hunt has the details. Reporter the scorched ground around me here tells a story how intense the fires have been the last couple days. As you look across the ridges and canyons you see how the flames swept down and through. As we spin around right in front of me here, you can see firefighters still on standby here. Although the real danger seems to have dissipated. You can see how close these flames got to all of these homes here. It was heroic efforts of firefighters like these that saved those homes. Both on the ground and in the air. They were helped over the past 24 hours of the dissipation of the famed santa ana winds. On monday they were blowing up to 96 miles an hour at times. Yesterday they sat down a bit. The firefighters were able to get the water dropping choppers and the planes that drop fire retardant up into the air and that is what made the difference. They got the upper hand yesterday and today as you can see from the firefighters there, they are in far more relaxed mode. They know they are very much winning this battle. It has been a tough one but as so often here in southern california, indeed throughout the state, the heroic efforts of the firefighting forces combined from so many areas in southern and Northern California appear to have won the day. Connell jonathan, thank you. Straight to a fox business alert now as we focus on the ford earnings. That price, stock price is soaring afterhours, better than expected quarterly profit for ford up 6 . It cites strong u. S. Demand for pickups and suvs. Forecasting a fullyear profit instead of a loss. Very strong report from ford. It added by the end of the year customers will be able to choose from 12 hybrid and fully electric vehicles from around the globe. All systems go. Ford will be up tomorrow. Top officials are warning that the u. S. Is at a critical point in the pandemic. 26 states reported record numbers on covid19 cases. Well talk about a expert about the likelihood of more economic lockdowns which is the fear here. Hurricane zeta is expected to bring landfall in the hour bringing lifethreatening storm surge and tornadoes. The storm is showing more signs of getting stronger. 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. Hey kaleb, whats up . How you doing . Hey, im good, guess what, i just had my 13th surgery. Really . I just had my 17th surgery. Well, you beat me. Well, i am a little bit older than you. Yeah its true. How are you doing . Im doing good. Im encouraged by seeing how people are coming together to help each other during times like these. Kind of like how shriners hospitals for children is there for us. Imagine if i couldnt get my surgery. Who knows what would have happened. Same for me. I know my shriners hospitals family will continue to take care kids like us who need them most all because of caring people like you. Like me . No, the people watching us right now at home. Oh, those people. Hi people. Kaleb and i know not everyone can help right now, but for those of you who can, we hope youll this special number on your screen right now. 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Your position is that you can sit in Silicon Valley and demand of the media that you can tell them what stories they can publish and you can tell the American People what reporting they can hear, is that right . No. This was, this was every person, every account, every organization that signs up to twitter agrees to a terms of service. Connell that was quite a day. There will be a lot of fallout from that hearing from new york to Silicon Valley. I want to bring susan li in to break it down a little more. We were talking earlier in the show about this, susan, but that was some day. I guess all over virtually. Party lines were pretty clear in the Senate Grilling of big tech ceos. Republicans hammered home conservative bias, shielding, labeling of President Trumps posts and tweets and twitter limited sharing of the New York Post hunter biden story. One interesting exchange, facebook ceo, Mark Zuckerberg was asked if the Intelligence Community told him to do it. Did the fbi contact you to say that the New York Post story was false . Senator, not that story specifically why did you throttle it back . They alerted us of a, to be on heightened alert around a risk of hack and leak operations. Reporter for the democrats it was about misinformation, fake news, proliferating on platforms. Qanon was brought up as political ads. Facebook banned all political ads, but will ban all political ads after Election Night indefinitely. Twitter did the ban earlier this year. The hearing was supposed to center around the Communications Decency act section 230. Both President Trump and joe biden floated the idea of getting rid of it. All three ceos in their Opening Statements said if that does happen, that would hurt Free Expression and free speech and ultimately users. Mark zuckerberg says the rules should be updated yes, but changes should not stifle expression or impede innovation. Dorsey says getting rid of section 230 could collapse the way we communicate. No political bias full stop at google, according to pichai. Connell, interesting day a lot with theatrics we see in the these senate discussions. Connell you cover these companies. Well all have to shift gears, 24 hours from now, most of them report earnings, right . Reporter including twitter which usually does it before the bell. Tomorrow we get them after the bell. You have to rifle through the numbers. Five Big Technology companies, twitter google, face back, amazon, microsoft, most say they are priced for perfection shun, theyre expected to do well with google, facebook, social media plays, talk about engagement. That is the most key metric. 145 million use twitter each and every day. They have added users this year, for facebook, as you heard in the Senate Hearing today, two billion around the world, connell, each and every day use their platforms. Connell i wanted to ask you about that, as a way to promote tomorrows show. Were all over that. Thanks for playing along. Susan li in the newsroom in new york. Well have the earnings for you tomorrow. Meantime a spooky phenomenon right now. A rare blue moon will rise this month, notably on halloween. It means a second lunar moon will rise in the same month. Full moons on halloween are even more rare. We looked this up. They only occur 18 or 19 years. Where did we look it up . The old farmers almanac to be sure. Spooky. But new preparation h soothing relief is the 21st century way to do all three. Everyday. Preparation h. Get comfortable with it. Noand if youre troubledan a liby falls and bleeds,ners. 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. Our Retirement Plan with voya gives us confidence. We can spend a bit now, knowing were prepared for the future. Surprise we renovated the guest room, so you can live with us. Im good at my condo. Well planned, well invested, well protected. Voya. Be confident to and through retirement. Connell look at hurricane zeta. It is about to make landfall. Expected to hit louisiana as a category 2 storm and it will be the third storm to hit that state in two months. Matt finn is in new orleans live with the latest on this storm. Matt . Reporter connell, were in the iconic French Quarter. The rain is coming down and intensifying. The area has been a ghost town, not only because of the pandemic up the latest hurricane. Throughout the French Quarter we saw businesses boarding up. We saw people sandbagging. Officials warned everyone to be home, off of the streets by 2 00 local today, because the worst of zeta is expected to begin around dinner time. Currently category 2. Potentially increases to a category 3 with sustained winds of 100 miles an hour. Those are lifethreatening winds. Zeta marks the seventh time the big easy has been in the hurricane cone of uncertainty. New orleans mayor is warning this one is not a drill. We talked to one man that people along the coast are sick of all these storms. We talked to some tourists that say they are not too worried. I am really tired of it. I can only speak for myself. I have had it. I have had it up to here. Well have the Hurricane Party at the hotel room. They said it would not be that bad. They have had worse. Nothing like Hurricane Katrina or anything like that. So that we should be pretty good. Reporter connell the power is expected to go out in parts of new orleans. It could stay out many days. Connell . Connell matt finn live in new orleans. Worry of second wave as coronavirus cases pass 70,000 in the united states. Then after the bell news from Gilead Sciences that Company Reported a 17 rise in revenue. Stock is down though. Sales of wellknown drug remdesivir fell short of analysts projections. Dr. Mark mcclellan joins us with perspective on the virus. Duke university Margolis Center for public policy. He joined us a number of times on this pandemic. Maybe well work backwards to the fear of lockdowns. I saw dr. Fauci says he doesnt think well get a vaccine until january at the earliest. We made certainly progress on treatment. Where do you think we are in terms of treating, eventually vaccinating against this virus . Connell, were definitely making progress. While we may not have Vaccines Available for even some people to use till the end of this year, recall next year, if they stay on track and in their development, everything looks okay so far, that will gradually help us get better control, better immunity over the first half of 2021. In the meantime we are making progress on the socalled monoclonal antibodies. These are the manmade version of the antibodies that the vaccine get you to produce and those could be available much sooner. There are two companies, regeneron and lily have two proposals before the food and Drug Administration right now to start makings treatments available. They can help with people at the highest risk of complications if we can get them to people early. That could help prevent them, many hospitalizations to take a significant part of the edge off, what is looking like a pretty tough coming weeks with respect to the continued spread of the virus. Connell it is. Cases as you know are up just about everywhere. Hospitalizations have risen in a number of states as well to your point. If youre advising governments, i know youve done a fair amount of, what are the current best metrics to use in terms of imposing lockdowns, and how have they changed from march, or april, may . Some people cite, death rate, deaths per 100,000 is better than it was. Do we look at it the same whether we decide to lock down or is it a different approach this time . Were definitely doing better in terms of survival, people that come down with the most severe forms of covid. That is good news. It hits Health Systems hard, with the increases in hospitalizations youre describing in many parts of the country now. Icus are approaching capacity. Health systems cut back on regular care. Set up Emergency Operations facilities. And that is not a Sustainable Way to deliver care. So we need to make more progress. Looking at hospitalizations as a risk factor for when further steps need to be taken is one place to start. The problem, connell, is that by the time you see hospitalizations, that is about infections that happened, 10, 14 days ago. So youre operating behind the curve. I think were seeing in many parts of the country now fast enough growth in cases we need to take some proactive steps. Not general lockdowns but more attention to restricting businesses locally and really encouraging people to participate in the steps that we know can help slow the spread. The masks. The use of distancing, small groups, things like that. Really it will make a difference in slowing down this big set of surges that were seeing right now. Connell speak a little bit more about that with some more specific examples if you can, about what you think is necessary now, and where you think it is necessary. Youre talking about something similar to what we saw announced today in france and germany . If so where in the u. S. Should we be looking at . I dont see a national set of lockdown steps or steps towards closing down like france and germany announced. The u. S. Is a big and varied country in terms of its impacts. I dont see us going back to Something Like we saw in the spring but more focused steps in areas particularly hard hit is something well see more of. It is happening in places like chicago, newark, el paso, texas now, to help try to get the outbreak under control. I think in many other areas it is important for people to remember that there are steps that they can take wearing masks, again staying out of large groups, regardless what is open or not. These steps will make a difference. We can continue to open up and have some Economic Activity but not, connell, if the case rates are going up so high that theyre really threatening our Health Care Systems and really disrupting daily life. Connell dr. Mcclellan, as always, thank you, from duke. Dr. Mark mcclellan with us today. We do have a new threat to businesses in that travel restrictions are expected to be more tightly enforced ahead of the holiday season. Well move on to tell you where that is happening next. Made for shes serving now we made it for all branches and all ranks whether they served one tour or made a career of it. 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But, if youre looking for some extra cash, for whatever reason, your homes equity just might be the right solution. Why dont you give aag a call . I trust em. You can too. You can trust aag to give you the information you need to see if a reverse mortgage is right for you. Get your free info kit today. Connell im sure a lot of people are starting to think about their holiday plans, but with coronavirus case levels hitting records around the country, a number of mayors from major cities are delivering new warnings, and Kristina Partsinevelos live from new york with more on that. Reporter right. Theyre delivering new warnings, restrictions discouraging travel in the state, out of the state. And, of course, this is devastating to businesses which is why i came to bryant park. This is a tourist hot spot. They are setting up the skating rink here for tourists. They also normally have at least 150 Small Business own ors that sell their goods. But recently mayor de blasio dud tell people not to travel, not to leave the state. He also discouraged Domestic Travel from coming in the state, and this would hurt the Holiday Market here in bryant park. He also said travel restrictions will be more strictly enforced. Meanwhile, in boston, mayor marchty walsh is urging all marty walsh is urging all residents to get a coronavirus test. But the cost burden will be on families and the uninsured. Then you have el paso. Texas officials have enacted a curfew, told people to stay home for the following two weeks, and businesses could face a fine of up to at least 1,000 if they dont follow protocols. We know its tough. Cities and states all across the country have to put together their own plans, but businesses are caught in the crossfire. I spoke to the president of the 34th Street Partnership that represents a lot of the big businesses here, and he weighed in. Listen in. If it goes on like this well into next year, im not sure whatll be left in midtown manhattan. Reporter you have outbreaks that ebb and flow in all different states and cities across the country but, unfortunately, its leading to a patchwork of policies across the country. Back to you. Connell yep. Thats 2020. Kristina, thank you. Crest teen that partsinevelos in new york city. As mentioned earlier, well have tech earnings tomorrow, and well see how the market reacts after a 943point drop today. Lou dobbs tonight starts now. Lou good evening, everybody. We are six days from election day, and President Trump continues to rally tens of thousands of husband supporters all a his supporters all across the country as a breakneck pause. The president today focusing on the battleground state of arizona. Its a state he won in 2016 by 3. 5 points. The president held two major rallies in bullheld city, thats just Bullhead City and in goodyear, arizona. President trump telling voters its up to them to halt the rise of the radical left. It took generations to