Impact of stayathome and lockdown orders. Will america accept drastic changes in the way this years holidays are celebrated . We are going to get into it. The situation has brought stimulus spending back into the spotlight. President trump has stepped away from the discussion, leaving leader mcconnell and speaker peloo w tkhing thi thi ou we believeveve the ty ayyti s dee tit t tirusirir andhehe sll a b highhigh. Lst ss acks ilnow 30 yestyeday,yeda wdal ounacaybe be 0 ts mog. In s s up. Aq isdor a f gai g gff maybe be. Plenpl of pl oreenensens fy mog. N lookow l at at is. Is n h sliocialiialili a a a sta d n. Nsocialist jisoe mancn. N. Thatictu reictuicpetuolumesol t ttp split spl spl among democrdeats. Ats. S. S. S. Sp the mtheayayf chicagohiitut aut ma shohognt a a a bullho while celebrating the Election Results. Risky behavior. But iloLori Lightfoot just cancd thanksgiving in her city. Okay to celebrate the election but not the all american thanksgiving. Its going to be a great show. Varney company is about to begin. Stuart yes, i do know this one. Okay. Lets get on with it. Welcome to the show, everybody. Its friday morning and we have this. Health and Human Services secretary alex azar speaking strongly against a second lockdown. Here he is moments ago with maria. Roll tape. You dont need lockdowns, maria. The data clearly demonstrate the interventions we need are simple, they are demonstrated, theyre proven, but theyre not forcing people to stay in their homes, shutting down our businesses, shutting our schools. Stuart lets be clear. He is against a second lockdown. Thats what he was saying about lockdown. Lauren joins us. What did he say about Vaccine Distribution . Lauren he said pfizer will distribute the vaccine directly to pharmacies and he calls it white glove service, because they can handle the quantity and the temperature subzero needed. The white house and the private sector are working hand in hand to get the most vulnerable inoculated next month, all seniors and First Responders january and come april, anybody who wants one. Theyre moving fast. Stuart no second lockdown and here comes the vaccine. Got it. Lauren, thank you very much. Speaker pelosi and schumer, senator schumer, now pushing for another stimulus. Now, my question is, how much . Susan they are sticking to 2. 4 trillion. We know Senate LeaderMitch Mcconnell wants a skinnier bill, 500 billion. The white house stepping back in these negotiations but biden is stepping in, pressing the need for a package he says in talks with pelosi and Senate Democratic leader Chuck Schumer and he wants it before the end of this year. But with a lame duck session in place for the rest of 2020, stimulus hopes are at alltime high on the stock market. Remember in january, pelosi will be losing seats in her majority in the house. Also we know the republican looks to keep hold of the senate. I think it will be very interesting to see who actually has the leverage in these discussions. The stock markets are shaking this all off. We are up for a second straight week for the dow on vaccine hopes. Stuart vaccine hopes. But i think hopes of a stimulus package susan alltime low. Stuart at a low . Susan yeah. No ones expecting it. Again, lame duck session. Stuart really . Susan yeah. Stuart thats this year. What about next year . When the new congress sits . Thats when they are looking for stimulus. Susan theyre looking for something in january. Stuart got it. Lets bring in our market watcher of this friday morning. George, lets get this out of the way. We appear to be on the verge of another lockdown or certainly a new series of restrictions. What would that do for stock prices . Stuart, good morning. I dont know if the biden team is listening to dr. Shutdown or who theyre listening to. Thats the worst thing we could possibly do for the country right now. I really want to see the president and Vice President get in front of the American People with their virus strike force again and encourage the American People to take good steps to stop this spike in the virus were seeing right now because we cant give ammunition to the forces who would have us go back into the bunker. Thats the last thing we need as a country right now. Stuart look, weve got this Record Number of new cases, 159,000 in the latest 24 hours. States all around the country are adding in restrictions. Surely at some point, this becomes a problem for the market, doesnt it . Not right now necessarily, but soon, maybe. We need the president and Vice President to get out in front of the American People and encourage all these states to stay open because it will take the market down and we also need a stimulus package. I would disagree. I think a stimulus package in the 500 billion to 1 trillion range could be done this year and i think we need it right now. We needed it before the election but the speaker blocked it. Hopefully they can come the a deal now so we can get some capital back to companies and individuals that desperately need it at this time. Stuart is that a big plus for the market, the expectation of stimulus maybe early in january or after the inauguration . It will be a plus, stuart, but most important thing we can do right now is stay open. The countrys got to stay open. From the standpoint of not just virus health but Public Health in general. Depression, suicide, other health ailments. Weve got to keep people at work and keep people moving around and theyve got to take precautionary measures so we have ammunition to give to our policy makers so they can courageously do so. Stuart would you be a seller of stock if we get another major leagues lockdown . Absolutely. I would. No question. A lot of other people will be, too. The last thing we need as a country right now. Stuart we hear you and we consider that a warning. Thanks for being with us on a friday morning. Thank you, george. People are going to have to cancel their thanksgiving plans under chicagos new lockdown order. Its kind of a stayathome order, really. Mayor Lori Lightfoot issuing a 30day stayathome advisory amid a spike in covid19 cases, including, that is, a tenperson limit on social gatherings. All of this days after she was celebrating bidens win without a mask in a big crowd. Fox news contributor tammy bruce with us now. Tammy, theres a split in this country. 70 million americans voted for a president who wants to open things up and now big population states are locking things down. That is a total split on treating the virus. Well, it is, and its not so different than what weve been dealing with this entire election year. I think still the use of the virus which is unfortunate because its a very serious thing, obviously, to still try to have an impact on the mood of the country. Remember, this election is in many ways not over yet and weve got the runoff in georgia and theres statements about politically about the nature of the economy and these blue states seem to be doing things strangely, blue cities like chicago and new york, that will continue to have an impact on that, but ultimately it really comes down to especially with thanksgiving, where were looking at a year when Peoples Mental Health certainly has also declined, the nature of how we feel about each other has declined because we have been separated, thanksgiving is a time to come together with your family and its going to be very interesting, separate from that, the legality of this. The idea that the government now is trying to control and telling you to control what youre doing in the privacy of your own home with your own family. Many people are questioning how will they enforce this and if they dont intend to enforce it, then why dont they just say use caution in the choices you make through the wintertime. Stuart do you think most people in america will respect this tenperson limit and the other restrictions on getting together for thanksgiving and then into the christmas and holiday period . Are we going to accept it . Will this country accept that kind of mandate . You know, i think most peo e people originally were going to be considering this because if youre having multiple generations in your home, you know that your grandparents are going to be especially elderly, maybe your parents are moving into being elderly and most americans think about these things anyway, especially even during the flu season. Then theres issues of travel. So we understand this. Theyre still treating us like infants but what is really bothering americans i think in every city no matter who you are, your complexion, your income, is the government and the police being now involved in the nature of your celebrating of an american holiday and what you do with your family. Its insulting. It does treat us as though we dont know what were doing. Americans again were going to and always are going to be thoughtful about what they do with their own families and i think that its almost like a conditioning that you need the government to tell you how to live your life because you dont know any better. Well, thats not acceptable across the board and i think the government is going to find out certainly, theyre going to find out in georgia and these kinds of attitudes and approaches alienate the American Population from the government and thats a problem. Stuart got it. Tammy, thanks for being here. Always appreciate it. See you again soon. Thank you. Stuart it is friday morning. Where are we going on this market . I see plenty of green out there. Up 200 for the dow, up 22 for the s p, 74 for the nasdaq. Plenty of green. Yes, its friday. Which means friday feedback. Be sure to stick around for that. Weve got some really good stuff for you today. And we will run it. Weve missed it the last two weeks because of other things happening. Not today. Friday feedback will be here. Now, we were warned on how a biden presidency would tackle Americas Energy independence. Watch this. A transition from the oil industry, yes. Its a big statement why would you do that . Because the oil industry pollutes significantly. Stuart so having said that, is our Energy Dominance and independence out the window with president elect biden . Were on it. Well cover it. We made usaa insurance for members like martin. An air force veteran made of doing whats right, not whats easy. So when a hailstorm hit, usaa reached out before he could even inspect the damage. Thats how you do it right. Usaa insurance is made just the way martins family needs it with hasslefree claims, he got paid before his neighbor even got started. Because doing right by our members, thats whats right. Usaa. What youre made of, were made for. Usaa stuart futures show some green, up 200 for the dow, maybe, at the opening bell which is coming up in about 14 minutes. Now this. The Biden Transition Team is stacked, we are told, with big tech players. Susan think of amazons director of International Tax planning, Amazon Web Services enterprise strategist and airbnb strategist, also linkedin senior director of policy. These are all the names in a new state and Treasury Department under president elect biden. Not huge names or csuite executives. We know big tech will still be under the microscope in a biden white house. You have heard biden say he wants to repeal section 230 which shields social Media Companies from liability for what their users post and its interesting that amazons tax planning head is part of the state department because we know biden wants to impose a socalled amazon tax making sure the 70 plus companies, big u. S. Companies that havent paid any federal corporate taxes in the past, pay at least a minimum of 15 , right . But also remember that Vice PresidentKamala Harris comes from silicon valley. She has ties to big tech. She knows them very well. I wouldnt necessarily say that big tech is shielded from any regulation, but will they have something more friendly policy towards them . I think thats still to be decided. Stuart but it looks like that, doesnt it . If youve got all your big tech people on your Transition Team, it looks like youre going to take care of big tech to some degree when youve got the power to make wisome changes. Susan i think big tech is relieved there will be a divided government. Theres an alternative minimum tax for the big Tech Industry that paid zero taxes in the past two years, right . Stuart im looking at big tech this morning. With that announcement of those people being on his Transition Team, they are all up. Apple up again, amazon susan i think thats a continuation of the rally we have seen on vaccine hopes. Stuart the announcement that some Transition Team members will be big tech people doesnt necessarily move the stock up or down. Susan i want to see a big gain, though. This is not exactly csuite executives we are talking about. Stuart it was that eric schmidt, top guy who handled obamas reelection and his first election. Hes right in there susan hes no longer daytoday at google. Still a big name. Stuart he was the big name for obama. Thats for sure. All right. We are up 207, dow futures. Now this. Look, how about the price of oil. 40 bucks a barrel as we speak. Lets bring in the worlds authority on oil. That would be Daniel Yergen who joins us right now. Daniel, will the Biden Administration end Americas Energy independence and Americas Energy dominance . I dont think so yet. I think theres a battle thats going to go on within the new administration about what to do. I think it has a lot of momentum still to it and a lot of the control over what happens to oil is actually at the state level. I think the big question actually is what you were kind of hinting at before, what happens to the price and whether the price is high enough to encourage the continuing scale of investment thats needed. Stuart what do you thinks going to happen to the price . I think that the price is stuck right now, we might call it virus alley. Its boxed in. There are some positive signs, very interesting that we are seeing oil demand in both india and china, which are the two big growth markets, actually up compared to where they were last year, and of course, theres a vaccine hope but then reality sets in that the vaccine is not tomorrow. The downside, stuart, is what you see in europe with the resurgent virus and in the United States, and i was just looking this morning, we surveyed 15,000 gasoline stations every week and gasoline demand has gone down and its particularly gone down in the parts of the u. S. That have been hardest hit by the virus. So i think while the virus is still going to continue to sit on the oil price until we get to that world called the vaccine. Stuart im looking at gasoline average price for regular in america now is 2. 13 a gallon. Thats a very depressed price. How much did demand come down for gasoline in the United States . It came down if we went back a few weeks ago when things looked better, it was down about 15 compared to last year. Now its down about 20 , particularly in the upper midwest, that area thats been particularly hard hit and in the southwest, in texas. Stuart im listening carefully to what youre saying and it sounds to me like were not going to get back to 60 or even 70 a barrel oil for a long time. Would you agree . I think, you know, the hypothesis, the bet i would make right now is that we are really, the middle of next year is when we would start to see Real Recovery from this, when a lot of people have been vaccinated and the vaccines dont, you know, there are competitive vaccines out there. I think until then, we will live in this virus world and that sits on the economy and uncertainty sits on the oil price. Stuart why should i buy an electric car when gasoline is 2 a gallon . That has been a recurrent problem. When gasoline is cheap, why buy it. I think that you still have to see the cost of batteries to come down and to really make it competitive, and theres a lot of debate about how fast that will come down and how quickly it will happen. But you know, i think if you look out to 2050, there will be a lot of electric cars, 2040, but last year, total sales is 2 in the world and thats still a pretty small number. Stuart oil is still a very important commodity, is it not . It is indeed still the single most important lifeblood of the world economy. You dont move ships, you dont move airplanes, you dont move cars. All of that depends upon this central commodity and i think by 2022, we will be back to the demand level that we had in 2019. Stuart 2022. Thats a long way away. Daniel, thanks for joining us. See you again not that far, stuart. Stuart to me its a long way away. But there you go. After 2020, its a very long way away. Middle 2021. Stuart see you again soon. Thank you. Thank you. Byebye. 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