Transcripts For FBC Varney Company 20240711

Workers of an annual cost of a billion dollars and thats why the stock is down. Down 1. 6 . Tesla, the stock thats going straight up and it has nothing to do with the virus. Tesla, 500 index meaning a lot of Money Managers have to buy the stock so up it goes and by the way the gain of 53 13 makes elon musk the third richest person in the world. Overall, the market is in a mild selloff mode. Dow jones closing and 29950. Its retreating a bit. S p down about 25, nasdaq a slight gain. A big tech is doing okay. We are in creeping lockdown mode and thats the problem for the markets as many states and cities imposing new restrictions as virus cases arise. Wear a mask in north dakota, utah. No Indoor Dining in california, michigan and in philadelphia, no indoor football watching parties. My opinion, thanksgiving next week, confrontation is coming. Who will enforce limits on your thanksgiving celebration . Where does president elect joe biden the stand, lockdown joe, where does he stand . Hes not saying. He just blames trumpet on the show today you will hear the softball questions the media lobbed at biden. You will see Mark Zuckerberg endorsing facebook and twitter appeared to answer more questions on censoring conservative point of view and senator rick scott, florida versus new york in the covid era. A day and night. You will hear more about that. Varney co. Is about to begin. Stuart houseparty. All right. Joe biden gave remarks on the economy yesterday and took questions. We have allowed to unpack here and i will start with the president elect saying trump could be responsible for covid deaths. Thats what he said. Roll tape. We are going into a very dark winter. Things will get tougher before they get easier. More people may die if we dont coordinate. How to get the vaccine . How do we get over 300 million americans vaccinated . Whats the game plan . Its a huge huge undertaking. Stuart we will get into all of that throughout the show, but i also want to point out that president elect biden and his press conference yesterday really he rarely takes questions from reporters and when he does this is what it looks like. Watch this. With dc is the biggest threat to your transition right now given President Trumps unprecedented attempt to obstruct a smooth transfer of power to make it doesnt appear the president will come around any time soon and admit defeat so what will you do . What options do you have to ensure you are ready to go on day one . I want your thoughts on the president s tweet, how did you interpret that and at the end of the day do you want him to concede . What is your message to the republicans backing up the president . Stuart pathetic. Looks like we are getting a sneak preview of how the media will handle the biden presidency. We will have more on this throughout the program. On your screen, big number 133,000 and 45, a new virus case of the United States prompted a number of states to issue tougher restrictions. Ashley, you are on. View me the thumbs up again. Ashley its thumbs down, actually because we have minute by minute more restrictions with californias governor gavin newsom saying daily case numbers doubled in the last 10 days and hes going to quote pulled the handbrake which means in many states large counties Indoor Dining and other businesses will have to shut down again and have a huge impact. As we go around the country, in iowa starting today people will be required to wear masks when indoors and unable to social distance and the governor ordering restaurants and bars to close at 10 00 p. M. We also have sweeping stayathome advisories going out into chicago and philadelphia, banning indoor gatherings and closing Indoor Dining out restaurants. New mexico now under eight two week locked as you mentioned north dakota has imposed a mask mandate. New jersey announcing limits on gatherings Effective Date today and the new Jersey Supreme Court issuing an order suspending criminal and civil jury trials. In washington state, new restrictions including limits of 30 people for weddings and a ban on indoor receptions. Again, we have these restrictions coming out almost hourly, stu. I think as you said as thanksgiving rolls around, its a combination for confrontation, no doubt. Stuart we are in creeping lockdown mode is the way it seems to be. Thank you. Lets get to tesla, winners. 53 up a share. 13 . Its joining the s p 500. Susan finally on december 21, it will be official going from to mainstream with tesla finally getting inclusion after five straight quarters of profit. You cannot say no to to a 400 billiondollar company, the largest ever added, already the eighth largest on the s p 500 and tesla stocks surging. There is 12 trillion in index funds which mirrored exactly within the index so teslas inclusion means the funds will have to buy tesla. Teslas rally means elon musk is getting even richer adding 15 billion and now worth 115 billion over taking Mark Zuckerberg as the worlds third or just a man, not that he needs the money. Stuart did you see that on the screen now worth 115 billion and he said he was worth 113 billion . Susan 117 billion. Stuart what is a couple of billion between billionaires . Susan exactly. Stuart up 13 . Thank you. Look who is here, gary kaltbaum. Gary, went to put you on the show because you are florida got and as you may know i just took a quick trip to florida and i have to tell you, the difference between new york and florida is like day and night. Is that the way you see it . Big time. Restaurants are here 100 , jims 100 . Of the only thing i have seen is that bars that are not in compliance are getting talked to, but we are open. People are being smart about it. When you go to supermarkets, people are Wearing Masks staying enough away from each other. People get it. Im not sure they need government taking the mallet out and putting them on the head for every little thing. I get the idea that viruses meaningful and the numbers are going up , but for the life of me being here what its doing across the us kind of weird if you ask me. Stuart i also want your market outlook. We have been quoting all times a big Investment Firms who see next year is a very strong positive year for stocks do you . I think initially, yes. I think everything has it changed, stuart. Started last monday dial up about 1600 points since then. The vaccine has over taking at least in the market any negativity on the virus and you see it on the opening up of the economy trade i call it. The best way to explain it is yesterday, 883,000 people went through the tsa checkpoint. A year ago yesterday was 2. 3 million, so we are only about 38, 39 of the norm. If we even go back to 70 , that means hotels are filling up. You want to own hotels. Energy demand is picking up, you want to own energy stocks. Some cruise lines are not going out yet. You want to own cruise lines so i believe everything has changed the market and the opening up a trade is going and i think there is a bunch more to go in the next couple of quarters. Stuart gary, thank you for joining us. Here is whats coming up at 10 00 a. M. , facebook Mark Zuckerberg and twitters jack dorsey will testify on capitol hill. Of this surely is all about censoring conservatives. Susan republican senators will likely be on the attack accusing the social media giant of unfairly silencing gop members including President Trump, the second congressional appearance in a month for twitter jack dorsey and facebook Mark Zuckerberg with the hearing and motivated by the limiting and sharing of the New York Post article on hunter biden but the questioning will likely include question surrounding the labeling of President Trumps and tweets especially on the election process and also expect questions around section 230 where social Media Companies are shielded from being liable for what users post. In Opening Statements you will hear both jack dorsey and Mark Zuckerberg say they both had changes in tweets when it comes to section 230, but not a full repeal. Looks like the Research Media center said both twitter and facebook censored President Trump 65 times compared to zero four president elect joe biden took cnn reports a twitter warning label on more than a third of President Trumps tweets since it pulls a closed in november. Stuart sounds like same old same old, repeat performance from last time. Checking futures, about 18 minutes till the opening of the market, down 200 for the dow jones. Major retailers reporting this morning with the numbers, home depot, walmart on the downside. Californias governor gavin newsom breaks his own virus restrictions and then offers what i call a reek weak excuse. Roll tape. A few weeks ago, i was asked to go to a friend to 50th birthday. We are all human and fall short sometimes. Stuart well, we all fall short sometimes and along similar lines chicago mayoral light but responding to criticism as a she was a crowd celebrating bidens win. Spoiler alert, shes not taking any blame or responsibility. 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Simplify diabetes. Simplify life. Omnipod. Simplify life. 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. You might think you were born with a slow metabolism. D to lose weight, thats exactly what these people thought. woman i lost 75 pounds with golo. announcer nambu lost 48 pounds. Hannah lost 60 pounds. And graham lost 131 pounds. How . They went to golo. Com. Now its your turn to lose weight quickly and easily with golo. Head to golo. Com now. Thats golo. Com. Stuart and we just got the numbers. Industrial production. Tell me why we should care . Susan another sign of recovery on the factory floors. Gains of 1. 1 , slightly better than economists forecast and it definitely better from september when he saw a decline of the. 4 . Stuart got it. Adding to our view of the recovery. Susan manufacturing a. Stuart no difference to futures as i see. Retail earnings with a slew this morning. Walmart, home depot and coles. Susan walmart is the biggest retailers in america with online sales encouraging. Ecommerce up almost 80 walmart customers are shifting to their home instead of going into the stores and using grocery pickup instead. The stock is slightly down one and a 3 . They did have to shell out 600 million more, but that was pretty much offset and that stock was a record high yesterday. Lets talk about home depot. Wiese on incredible 24 surge in sales in the quarter i mean unbelievable. Lock lockdowns met more time for Home Improvement. Stock is down because home depots pain out a billion dollars more to make temporary pay raises permanent but still may say strong sales. The underperformer is khols reporting more than 13 decline in current sales with customers buying less apparel, footwear and shares are down close to my 50 this year and some are questioning whether or not they will survive. Stuart i dont think these retail earning support have much impact on the market. Susan its been pretty much priced in and todays a prophet taking day after that monday session with record stock market. Stuart still down 250 on the dow jones. I want to bring in our retell guy, gerald storch. Gerald or jerry i have known you for three years, can i call you jerry . Much preferred, stu. Stuart what stands out from all these reports is the extraordinary growth in online sales. Something we have talked about, but i never thought we would see this percentage gain that we see now. Is phenomenal and you see it with walmart reporting the 79 increase and then you see amazon growth tremendous. Prime day was the month of october, so that helped a bit 29 growth yearoveryear in ecommerce sales reported today in the Commerce Department was phenomenal the whole report was good. I had to say this, anyone who say i dont know sometimes i went to conduct they met with. 3. 1 versus last month compared to. 5. Its ridiculous. In yearoveryear retail sales were up 5. 7 versus last october prepandemic 8. 5 just for retail trade. The only thing really doing poorly is apparel, Department Stores, susan mentioned khols and restaurants and bars. Everything else is off the charts. Stuart tell me about home depot because that has nothing to do with you know its really it has nothing to do with online sales. That has everything to do surely with the pandemic. I know the stock was down but their report was spectacular. Its down because its been up so months much. 26 more sales from last year in october. Thats phenomenal. We just go crazy with numbers like this and retell. Whats a great growth story and the reason why is because people are in their homes, not buying apparel. They are fixing up their homes they are spending on home depot sales. A pretty good online operation but thats not really where its coming from. Increase traffic, increase, unlike walmart who did not see increased traffic. It was all increased tickets where the sales are coming from an online. Stuart what worries me is impending future restrictions that the big guys, target, walmart will be essential retailers and stay open. If the smaller retells retell that will have to close. Huge in the lockdown situation becoming little and big. You are right. Large retailers are adapting. Walmart is the nations largest Grocery Company and groceries are up 10 in the month of october yearoveryear. They will thrive and stay open and how the online operations, complex on the channel paradigm with all the technology, they will do great. Massive kind consolidation, not by someone buying someone else but the people that survived this capture and share of those going out of business. A lot of people we saw the rumors about francescas yesterday, one after the other dominoes will fall very heavily in the apparel and Department Store space. Stuart july to get back to running a big retailer . For the right time for the right challenge its always fun to be in the game. Stuart gerald storch, thank you. Back to futures. Futures indicate a downside move before the dow jones and s p, but upside for nasdaq up a quarter of a percent. Back after this. Your journey requires liberty mutual. They customize your Car Insurance so you only pay for what you need. Wow. That will save me lots of money. This games boring. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Stuart we are going down on the opening bell, down by about 200 points. Looking off camera on the righthand side of the screen is famed market watcher who is back with us. Sim. I was looking to see the retell sales number they dont look too bad. Stuart thats a good way to start. Whats this about the recovery looks less like a v and more like a nike swoosh. What is that . Well, thats like the symbol where it goes down and looks like a v and then starts to continue to recover, but at a slower pace. Its only natural. We have had under mark remarkable v shaped recovery from the pits of this recession in april right through october and i would argue that there still is enough stimulus left from the first round of cares act and all of the fiscal stimulus at all the monetary stimulus to keep the economy growing through the holidays. My wife went to the mall and she said she has never seen it more tact and her thesis is that people are running to the malls in advance of what they perceive another wave of the pandemic. Stuart you are still bullish . I mean, everyone else seems to be bullish about next year with these big Investment Firm saying we are going eight, 9 on the s p next year. Do you still feel that way . Yeah, dont fight the fed and continues to keep Interest Rate near zero. Again, looking at retell sales report everything that is housing related is at an alltime record high, so low Mortgage Rates have been able to have people move with a lot of de urbanization because of the pandemic and i think people will be moving to houses. Houses lead to a lot of spending and also housing related items and we see that for sure stuart we see a lot of these extra restrictions piled on all over the country just as we approach the holidays. Surely that will slow things down. You are absolutely right. Of the question is, will the restrictions be as severe as we had a march april. In new york, the governor basically shutting things down at 10 00 p. M. I dont know that it will really hurt the economy here in new york it all depends on how bad the restrictions get, but on the other hand i think we can look forward to a vaccine. Vaccine users have been upbeat and i think the stock market will continue to have this rotation between the stocks that get hurt the longer the pandemic last into the winter and stocks the very same stocks may benefit when we get more good news on the vaccine. Stuart i will be selling if the republicans lose control of the senate. I think a lot of other people will. Thank you for being here. The Dow Jones Bell is not during and that means we are about to start trading. About a 200point lost with the dow jones when things open up and the habits and three, two, one, 9 30 a. M. Eastern. Right from the start down to under 50,. 9 . Ic three winners among the dow 30. I cannot quite read them but i know merck is up and nike is up. 27 are down. Salesforce is up, also. Down. 9 on the dow jones, down. 59 on the s p. Nasdaq, did we squeaked out a gain . No, down. 09 . Why do we have a look at big tech. Bearing in mind facebook Mark Zuckerberg and twitter jack dorsey will testify on capitol hill today. They will be grilled about censoring conservatives. As we look at the big tech we see amazon up because they are introducing our x, amazon rx. All the rest of them on the downside. Tesla, lets get back to that stock of the day up 46, 11 in the s p. Susan the quality of profit which is why it took so long, despite making prophet for five straight quarters so most of the prophet has come from selling regulatory green from other countries and thats the question or the quality of growth which has impeded its inclusion into the s p the filing december 21 is when tesla will be included meaning 12 trillion will have to buy that means the stock goes up and stock price goes up which is what we see today are tesla finally rewarded after it stellar year within striking distance of hitting 500,000 car delivery. Still tough because they just came off a September Quarter with a delivered a record 139,000, but they had to make more deliveries in the final three months of the year. Shanghai has been a game changer in one of the reasons the stock rallied. It will be the eighth Largest Company in the s p 500, already the Largest Company ever added to the s p 500 and people wonder why it took so long. Stuart and you just explained it and its the eighth Largest Company . Susan 400 billion and its already again larger than most Companies Included in the index. Im wondering which company will be kicked out to make room for tesla. Stuart i wonder how much money i would be worth if i had but some money into tesla a few years ago. Missed that one. Warren buffett, this is interesting, hes reducing his stake in apple. Susan Warren Buffett also missed the tesla ride, but we know Warren Buffett has bought a lot into apple. He shed about 4 or so dollar wise still the same holdings about 100 billion and it still berkshires are just Single Holding that there has been re rotation around the portfolio. Also he bought nearly two and half million shares of tmobile last quarter so you will see tmobile moving up today and also large positions in pharmaceuticals because of merck, pfizer, Bristolmyers Squibb but selling out of j. P. Morgan, wells fargo and Pnc Financial and also trimming a newly added component gold by over 40 . When berkshire and oracle shrift shifted their portfolio pc stocks move in reaction. Stuart another one that interests me is cosco, not just for the free lunch but they have a special dividend. Susan i know you are a big fan. Stuart yes, i am. Susan about 10 a share which is a lot in a special dividend with a payout of 4. 4 billion for cosco and they can afford it because they have a strong Balance Sheet with a 17 gain, record growth in sales from july to september because people are buying in bulk. We know cosco from time to time and this is the four special dividend in eight years, but this is a lot per share. Stuart if i own one cosco share right now i will get 10 . Susan thats right paid out december 11. Stuart i will get the 10. Stuart united airlines, they are doing something and i dont know what, but it is important. Actually, what you got . Ashley they are flying which is good for an airline. United flight 14 took off from Newark International airport last night, landed in london early this morning. Passengers and crew received a rapid covid test prior to departure and passengers that did not want to be tested were placed on an alternate flight to guarantee everyone tested negative before flying. However, children under two years old are not tested. By the way, the test is free. United is picking up the tab as a tries to generate more confidence and more revenue. United says same day testing is vital to reopening the Global Travel sector and also addressing quarantine and travel restrictions. United like delta reliant business and International Travelers for much of the revenue. We should also point out our very own a lauren will be live at Newark Airport in the next hour to see if the free testing could be a game changer. Stuart it could be a passport to getting on a plane just like the vaccine, the certificate you have been vaccinated could be a passport to getting on a plane, crews or traveling. I mean, i can see the day coming where you had to be credentialed to get on a board. Thank you. Amazon, this is important. Watch the stock. Amazon is jumping into the pharmaceutical business, pharma business. Susan the new offering called amazon pharmacy. The biggest move it yet for amazon and its designed to make it easy and convenient to order Prescription Medication online. Also, a Savings Program and free twoday shipping for private members. We knew this was coming because they bought a pack in 2018 for a billion dollars. Its actually gaining for amazon positive stock. Look at the drag you see in the other pharmaceutical stocks, cvs, walgreens, rite aid and good our x and thats what happens when the giant comes into the space. Stuart huge jerk line. Look at right a down 13 . Thank you. Then we have cinemark theaters, Universal Pictures that have reached a deal on a special idea of how to release a movie. What is with that, ashley . Ashley sign of the times. Theater operator cinemark agreed to a deal allowing Universal Pictures to offer its movies in us homes as a cns 17 days after they debut in the theaters. Its a similar deal to the one universal made in july with amc which is the Worlds Largest theater chain. Universal could offer movies for sale via premium videoondemand basis after they have played for at least three weekends in theaters before the pandemic movie theaters would have been an exclusive window that lasted about 74 days and they really protected that number very harshly because they said look, otherwise people will watch from home. Universal one of the few major studios sending movies to theaters in the coming months. Many other studios, as we know, remain closed at. It is a sign of the times. Stuart another one. Thank you. We have been open in the market for precisely eight minutes and we are on the downside to the tune of 1. 1 , 300 points down for dow jones. Squad member going after the president and his supporters its an awful comparison. Just watch this. He chose to speak about me at every single rally, did it really matter where he was, sometimes multiple times in a day as he held his clan rally struck the country. Stuart she called them clan rallys. What happened to the party of peace and unity . Brine will have something to say about this later on. President elect biden warning President Trump may be responsible for mope more covid deaths if a transition of power is not coordinated soon. Mick mulvaney on that, hes on this show after this commercial break. Keeping your oysters business growing has you swamped. You need to hire. I need indeed indeed you do. The moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base claim your seventyfivedollar credit when you post your first job at indeed. Com promo 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 . If you have medicare and medicaid, you may be able to get more Healthcare Benefits through a humana Medicare Advantage plan. 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Susan no specific date yet but airbnb has chosen the nest egg to list under the Ticker Symbol airbnb with surprising financials. The Company Actually made money from july to september, unusual. Door i actually lost money. They made about 219 million on 1. 3 billion in sales, again coming into the year worth about 35 billion. They were set to launch their ipo in march but then covid hit and that decimated their chances of getting on the public market. They had to raise emergency cash. Most people on the market expects somewhere close to make 30 billion, 3 billion in cash will be raised and it will be interesting to see how it does especially when they made money, but if you think the revenue actually dropped 80 from a year ago as the other highflying unicorn paulista for the years and tripled their sales in the quarter. Stuart okay. Sounds like a recovery situation. Susan recovery situation, but not accelerating growth. Stuart i can see it. President elect biden says mr. Trump delaying a transition will cost lives. Watch this. We are going into a very dark winter. Things will get tougher before they get easier. More people may die if we dont coordinate. Had we get the vaccine . Had we get over 300 million americans vaccinated . Was the game plan . Its a huge, huge undertaking. Stuart hes back, Mick Mulvaney former acting white house chief of staff is back on varney co. Mix, president elect biden seemed to me too be basically saying i know you are shaking your head on president elect that biden is basically saying mr. Trump will have blood on his hands. What say you . Sure, and its more of his hyperbolic speech he has been doing since before the campaign. During one of his town hall c said if the president had done Something Different no one would have died. The president who does speak hyperbolically when he does, folks in the media then goes crazy but when biden does stuff like this no one seems to blink a night. Doesnt contribute to the plan to make things better. Heres the facts, most of the data the Biden Campaign needs this public anyway and they could start and they are starting. Secondly, people dont seem to realize the overwhelming 95, 98 of the people working on this matter in the federal government will be staying. They are career employees and they stay from one administration to the other. Really what you see here is simply a play by the democrats by biden to sorted tm up blaming the republicans for anything bad that happens between now and say this time next year. Its what obama did to brush and that is what biden will try to do to trump. It doesnt move the ball forward, but its pretypical in washington. Stuart to developments in the house, number one book burgess owen has been declared the winner in his race in utah, number two we have Cedric Richmond likely to announce hes joining the biden next. That is one less democrat in speaker pelosis majority. She now has a very tenuous majority. Whats impact on policy Going Forward . Theres also a bunch of braces i think another 12 or 13 races that are too close to call. The seat is securely democrat and im sure cedric will vote for nancy for speaker. You see a simple counter play to what we shot with john boehner in early 2010 when i was in congress is that nancy is working with a very narrow majority and she has a very difficult time cobbling together enough votes to become speaker. Its really damaged the republican brand going into the election in 20142016 and i can will damage. It will be fun as a republican for the issue to be on the other foot but nancy will have a difficult leadership fight. Stuart thank you. 18 minutes in. 350 points down for the dow jones on your screen, mayor of chicago Lori Lightfoot is on the defense took she was cut celebrating bidens win without a mask. You are watching that now. There are times when we actually need to have relief and come together and i felt like that was one of those times. Of the crowd was gathered whether i was there or not. Stuart no apology, not seeing. That seems to be a pattern of lawmakers democrats especially not following their own rules and we will speak about that. Elected officials in chicago have a solution 12 struggling businesses on the magnificent mile. Guess what that is . I will tell you, more taxes. I will take you there for a live report coming up. Do you have a Life Insurance policy you no longer need . Now you can sell your policy, even a term policy, for an immediate cash payment. We thought we had planned carefully for our retirement. But we quickly realized that we needed a way to supplement our income. If you have one hundred thousand dollars or more of Life Insurance you may qualify to sell your policy. Dont cancel or let your policy lapse without finding out what its worth. Visit conventrydirect. 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So, you can really promise better sleep . Not promise, prove. And now, during the ultimate sleep number event, save 50 on the sleep number 360® limited Edition Smart bed. Only for a limited time. To learn more, go to sleepnumber. Com. Stuart travel stocks go up, they code down pretty much in line with vaccine news. They are down today, but i want to bring in jeff hoffman travel Specialist Care jeff, i am sure you know the ceo of expedia season to resent in his words worried back next summer those are strong words. Do you see it like that . I think we have headwind excuse me tail wind in travel industry finally and thats great news. First, the vaccine has brought a lot of optimism. More people are planning for spring break and planning their Summer Vacation hoping they can take it, but they are making plans to. The pentup demand is huge. People are tired of sitting at home. People want to travel especially on the leisure side, but business as well where they can. There is a lot of pent up demand and third the travel industry has had time to improve its response. Earlier, actually reported on united doing on the spot instant Virus Testing for a flight. Jet blue is also, hotels are Getting Better at increasing consumer confidence. Those are all tailwind in the right direction for travel to return. Stuart do you think we will see certification, yes, i have had a test and its negative, yes, i had taken the vaccine and i have a certificate. Will that be the thought for travel in the nearterm . Stu, i work with startups all of the country and so may people are working on digital certification. I would say, yes. Businesses want it, restaurants want it, hotels, consumers, everyone would love to feel safe going where they are going knowing people are quote save so i believe digital certification, that technology will be significant in addition to the vaccine just because there is a vaccine had i know you took it, so yes, sir i do think Digital Certificates will become part of the way we live for a while. Stuart jeff, thank you for joining us. You have an important area to talk to about so we come to you frequently. Thank you. All right. What we got . Dow jones 30 on your screen, a broadbased look at the market, 28 of the dow 30 are in the red. This is a down day thus far. The only winners are merck and salesforce. Com. Dow jones is up 374 up in it quarter of a percent. That is a selloff but look at the level, 29577 thats where we are. Not that far away from dow 30000 we have had a terrific week and this is a minor selloff. Heres whats ahead, florida startup, rick scott, Brian Kilmeade, steve forbes, ron mcdaniel all coming up. Next, im calling it the creeping a lot down and i have an idea, how about letting people decide what level of risk they want to take for themselves rather than have the government tell you what you are allowed to do. My take on that next. Hey yeah . I switched to geico and got more more savings on Car Insurance . They helped with homeowners, too ok plus motorcycle, boat and rv insurance geicos got you covered like a blanket houston . You seeing this . Geico. Expect great savings and a whole lot more. Stuart well were trying to walk on sunshine, trying to stay positive. The dow is down 424 points. Nonetheless walking on sunshine works for me. Here is what we have coming up in this hour. Rick scott, Florida Republican senator, matt che retail guy. The Brian Kilmeade the one and only. John tamney, and jon taffer. A growing concern about conservatives being censored . Any fireworks you will see them real fast. It hasnt started yet. Those tech stockses all of them on the downside except for amazon which launches the amazon pharmacy business as of today. Amazon is up 30 bucks. 3163 is the price. Overall the market is down, 400 points. The dow industrials. Close to the session lows. S p down 33. Nasdaq down 56. A lot of red today. It is a down day. We have got the numbers on homebuilders sentiment. This is important in the real estate industry. What do we have, ashley . Ashley we have a recordbreaker, stu. The confidence in the market for newly built Single Family homes increased five points to 90 in november. Anything above 50 is good. Now that shatters the previous alltime high of 85 that was set just a month before in october. Builder confidence, levels have hit successive alltime highs now three months in a row. The question is why . You have historically low Mortgage Rates, and, an on going shift to the suburbs which has spurred demand and certainly increased new home sales by nearly 17 this year compared to last year. So when you look at the economy, homebuilders and the housing sector has really carried a lot of the weight. Stuart sounds good to me. Thanks, ashley. See how it sounds to jerry howard. He is the ceo of National Association of homebuilders. Jerry, no wonder youre happy. Can you sell bus about anything you build . Particular in the suburbs and exburbs and pretty much everybody walking on sunshine stu. Stuart which suburbs and exburbs. They want to leave the cities a feeling quarantine and want to get ought and cities experiencing the unfortunately violence of last summer. Im talking about the new york area, chicago area. People are leaving california in droves. I spoke with a friend of mine in idaho over the weekend. He said that boise is becoming a california town with so many californians in there. So those are the three areas that come to mind. Stuart do you have Pricing Power . If demand is so strong, and you can sell just about anything you can build, especially in key areas, can you move the price up at will almost . Well i right now certainly is a sellers market. The increase in house values is very, very strong. In fact i know some economists are starting to see it is actually too strong at this point but the headwinds that sort of keep us in check are material costs and labor. So there is a certain counterbalance but right now prices are on the increase, thats for sure. Stuart is it highend stuff, highend homes going particularly well . Yes. Highend homes are obviously very, very fast moving right now. There is a lot of people a lot of city people who are fairly well off who want to leave the cities and building nice homes for themselves in the rural areas or in the suburb abouts. Firsttime home buyer homes are capped basically because youre talking about people of much more moderate income. Youre talking about people that may even have problems saving for a down payment. So the real increase in values is in higher end of the marketplace. Stuart is there any evidence that people, some people, are moving their profits out of stocks and putting it into a new home, new real estate . Any evidence . I dont think i can say there is any evidence. I can tell you that historically when people get nervous about the stock market, they invest in real estate and housing. It is the safest investment in the long term because they are just not making anymore land. Stuart are you a happy guy this tuesday morning, jerry howard . I am indeed, thank you, stuart. Stuart youre welcome. Glad to see you on the show again. Jerry, thank you very much indeed. Well see you again soon. We leave you momentarily hold on a second the dow is down 400 points. Look at that level, 29,540. That is where you are. Now this. Call it creeping lockdown. It is happening. More cities and states impose restrictions as the virus caseload goes up. The vaccines arrived too late. Millions are being told to cancel thanksgiving. Thats where we stand. And its a fight. On one side fear of the virus, the demand for maximum safety and the charge if you dont lock down lives will be lost. That is one side of the argument. On the other side, protect the vulnerable, treat people like adults, let them make their own choices. Let them assess their own risk. There is a clear divide. Confrontations are coming. A poll shows 38 of respondents plan a big and normal thanks thanksgiving dinner. In states where gatherings are limited will Police Officers walk into your house in new york . Four sheriffs in new york said they will not do that. What about businesses . Restaurants, bars, are they going to comply, knowing if they accept the new restrictions they will not survive . So many were ruined in the first go round. The wall street journal reports that hundred of firms that got stimulus aid still went bellyup. Businesses are commanded to fall in line, even though the politicians ordering the restrictions dont always follow their own rules. We the people are ordered to hunker down again or be shamed for being a health risk. The president elect should step forward, during the campaign he was locked down joe. He was mask mandate joe. What is he now . He says let the scientists decide . Unfortunately they are divided. You cant blame trump now. He got a vaccine at warp speed. It is joe bidens virus now. It is his creeping lockdown too. Now you remember this . Mayor Lori Lightfoot going against her own social distancing guide lines. There she is maskless in a huge crowd to celebrate bidens election win. Now she is defending her actions. Roll that tape. Everybody has to take precautions. I will tell you in that big crowd a week ago we had everybody, was Wearing Masks, there were times when we actually do need to have a relief and come together. I felt like that was one of those times. That crowd was gathered whether i was there or not. Stuart okay. That is the mayor of chicago defending being in huge crowds celebrating bidens election win maskless, et cetera, you saw it. Scott shellady back with us. You know increasingly, scott, i see lawmakers just simply not obeying their own rules, not living by their own rules, breaking those rules. Have at it, scott, go. Yeah, well, pritzker said you cant leave the state and travel for thanksgiving he is rumored going to florida to one of his other estates. Newsom breaking his own rules. You just saw lightfoot. Any number showing they dont care rules for thee not for me. That is the problem, stuart. We have a plan here which is no plan. These governors and these leaders have tried to institute these lockdowns would you ever thinking it through. Lori lightfoot is surprised she doesnt have any revenues to pay for City Services because she locked down the economy. The poor Business Owners pay for the Liquor License not allowed to use it or have to pay the Real Estate Tax but cant use the building theyre in. What is going on . This is the worst plan or execution in my entire life. To your point, you had somebody earlier on the show, quarantine restrictions 44 states, quarantines coming into chicago and new york that will impede growth. Ceos not telling people to come back to big buildings theyre in right now. That will impede growth. All these things will not help. That is the problem. Nobody has a plan. Nobody is thinking anything through. This is lethargic lookdown, this is a limping lock down. This is lunatic lockdown. Give the joys back to the people, the people make the choices. The government dont know how to spend your money and the government dont know how to spend your free time. Stuart i was in florida over the weekend. Spent less than 24 hours there. I keep going on about this, it was such a stark contrast between new york where i work and new jersey where i live and florida. I mean florida is open. Restaurants, 100 capacity. Theyre full. People are out there having a good time. You see people in the malls. Malls are packed. Look, i see a confrontation coming here because you order americans to lock down on thanksgiving and christmas i think you got a problem. Last word to you. Well theyre absolutely definitely coming for christmas. Because we have the media using words like surge, record, all these big hyperbolic words, that is scaring people. Im getting out of here, like you, stuart. Im going to scottsdale for thanks giving. Not like it is here. The cases are on the rise. Everybody is so scared. Nobody wants to do anything. It is so depressing i want to see people to make my own decisions. Last thing i will say of this, these people in charge of our lives right now are ruining our lives. Main street usa will turn into Big Box Stores and chain restaurants. It will be bed, bath and a burger. Nobody has to the in their Business Plan to shut down for eight months when it is just momandpop. Stuart school shellady. Thank you. I just hope you get back into illinois that they will let you back. They might know you. Right. Stuart good shot, lad. More on chicago. Officials there want to tax businesses on the magnificent mile. Grady trimble is right there. Werent they just, those stores, werent they just subject to looting . Reporter they were two times this year, stuart and they are still boarded up right now. But that is actually why some officials in the city want to add this tax. Here is how it would work. Less than. 05 just for businesses on the magnificent mile. It would be an additional property tax would generate somewhere between 700 and 800,000 a year. They would use that money to hire private security, to add extra lighting and for beautification projects to try to redeem the reputation that has been tarnished by looting that happened here this year. Of course there are opponents to this additional tax. These businesses already pay some of the highest taxes in the city and theyre already strapped for cash with the decline in retail that weve seen lately, the tourism decline in this city. They say it would be more difficult for businesses already considering getting out of this area, stu. Stuart we hear it. Grady trimble, right in the middle of it again. Thanks very much, grady. Congresswoman ilhan omar comparing President Trump and his rallies to klan rallies. Watch this again. He chose to speak about me at every single rally. Didnt really matter where he was. Sometimes multiple times in a day as he had held his klan rallies throughout the country. Stuart she said it. Klan rallies. Well see what Brian Kilmeade has to say about that. He is on the show a little bit later. You heard my take. I say lockdowns are creeping back. Look at sixth avenue on a tuesday morning. Not exactly bustling, is it . What a stark contrast to florida who is open for business. Whose senator, republican rick scott will be on the show shortly. This is the second hour of Varney Company. When i was in high school, this was the theater i came to quite often. The support weve had over the last few months has been amazing. Its not just a work environment. Everyone here is family. If you are ready to open your heart and your home, check us out. We thought for sure that we were done. And this town said not today. Adapting. Innovating. And tlsetting the course. Oday. 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 i live in new jersey and i work in new york city. This weekend i took a a very short less than 24 hour trip to florida. What a difference. Like day and night. Florida seemed positive, upbeat and forwardlooking. The new york area seems negative, withdrawn, backward looking. You have to ask how long people are going to put up with the restrictions in these democratrun states . That was a little bit of me from yesterday. After my quick trip to florida. What a contrast. Righthand side of your screen, youre looking at, no, lefthand side, sorry, times square virtually empty. Righthand side florida, business as usual. Here is no less than scott, senator rick scott. Senator, your state is open for business. Are you going to stay that way as caseloads rise . Absolutely. I mean, stuart, look, move down here. Your audience is all moving down here. Were open for business. Were going to do it safely. Were Wearing Masks, were social distancing. Quarantine i am because i was around somebody that tested positive. That goes on in our state. Well be open for is about. Well make sure everybody gets back to work, get a job. We want our schools open. We know we have to do this safely. We havent beaten this yet. Well not do what cuomo is doing. Well not shut down our economy. But i got elected when andrew cuomo got elected in 2010. Since then can he not only balance a budget but he never done that, he cant figure out how to get his economy going and he will kill it again right now. Stuart there is no love lost between you and new york, there, senator . I love new yorkers. Theyre all moving down here which im glad for but they can get a job, kids get better education. Go to college for way less money. We have number one Higher Education system in the country. Im not a big supporter of what Andrew Cuomos plan for the country. Im a supporter, let you make a decision, let you lead your life. You will make good choices. I mean i grew up in a very poor family. They werent foolish. They didnt have a big education. That is what people are like. We like people to make their own decisions. Democrats, start with andrew cuomo, Chuck Schumer, pelosi they tell you how to lead your life. I dont believe in that. Stuart i really enjoyed my 18 hours in florida. I would like to spend another 18 hours in the future. Lets move on to georgia if i may. Youve been there. The recount in progress, that could, could, put republican senator david perdue above 50 . That would avoid the runoff election. Therefore he would win. Therefore the republicans keep control of the senate. From what youve seen, is that likely . Well im hopeful. Look, we got to make sure every legal vote has been counted. That is what we have to do in these elections. I went through this two years ago where i went through two recounts. My, Chuck Schumer sent a lawyer down. I dont care what the votes are well win through the courts. Lets get all the votes counted. I hope david perdue is over 50 , whether he is or not, well win both the georgia seats. Were on the right side. Chuck schumer wants to tank georgia, change the country. His change is not good for us. How many want someone to pack the supreme court, take away religious freedom, gun rights, Green New Deal kills jobs. None of those things are good for us. Democrats are pushing that. Well win. It would be nice david gets over 50 so we have one race to focus on. Stuart i want to get this in while i can. 2022 olympics in beijing. You wanted the games relocated but they are not going to be. I believe you sent a letter to nbc asking them to make sure you cover chinas suppression of human rights. Have they responded to your letter . They have not responded yet but heres the deal. We, communist china should not hold the olympics with a Million People in prison for their religion. They took the basic human rights from hong kong citizens and harvestorg distance from harvest organs from people in prison. I hope nbc talks about the atrocities happening in come night party in china. Wonderful people in china, horrible government. Stuart do you think the games will go ahead as planned . Im very optimistic the games will be moved to a country that respects human rights. China doesnt. Stuart senator rick scott, republican, florida. I will be seeing you again soon. Thanks very much for joining us today, mr. Senator. Appreciate it. Thanks. To the markets were off the lows of the day. We were down 400. Now were down 300. Nasdaq down 43. Show me the vaccine names please. I have merck, moderna, pfizer up there. Were going to show you some travel stocks as well, travel stocks go up and down with any vaccine news. So today, weve got norwegian cruise lines up, jetblue down, intercontinental, hotel guys, down. What have you got, suzanne . Susan merck and pfizer are because Warren Buffett and Berkshire Hathaway bought into positions in those biotech pharmaceutical names. Stuart when they buy, they go up. Susan yes, correct. Stuart i will take you now to my own airport, that would be newark, new jersey, where we find lauren simonetti. And she is there because united is rolling out rapid tests for some passengers . How does this work, lauren . Lauren okay, stuart. So it is for the lewk consider tiff newark to heathrow route. What theyre doing on certain flights every week they will test every Single Person at the airport. If you have a negative test, get results in 15, 20 minutes, you can proceed to the gate you get on the flight. If youre positive youre taken to a cdc quarantine station. Would it be wonderful to know that every Single Person on your flight is covid free . Yes, it is saw some. The problem, stuart, when you land in heathrow and 36 passengers landed landed in heaw this morning, they still have to quarantine for 14 days. Those travel restrictions exist. I got off the phone with united, what theyre trying to do with the Pilot Program, the tests by the way are free. Convince the authorities that these blanket quarantine measures are not going to help the industry and they will not open up this lucrative market, the transatlantic market connecting new york and london. So theyre trying to do everything that they can to make people feel comfortable and then allow them to move from that theyre covidfree and get to the destination. Stuart its a very good idea. Its a test run. Somebody has to get the ball rolling somehow or the other. Somebody has to point out problems you have when you have enormous lockdowns all over the world. It is hard to get back to real flying and real traveling, isnt it but theyre starting, thats good. Lauren a vaccine is coming but we still have several months before mass vaccination actually happens. What are they supposed to do in the meantime, right . So united, other airlines are raising their hand, let us show you what we can do. They say they will more examples like this in the coming weeks. Stuart lauren, right there at newark. Thanks for joining us. See you again soon. California governor gavin newsom announcing tough new virus restrictions ahead of thanksgiving despite being busted for breaking his own rules. Well get larry elders response in our next hour. How badly will more lockdowns hurt retailers especially ahead of the Holiday Season . Im something the federal Retail Association matt shea. He is next. 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. 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. Its still warm. Thanks, alice says hi. For some of us, our daily journey is a short one. Save 50 when you pay per mile with allstate. Pay less, when you drive less. Youve never been in better hands. Allstate. Click or call for a quote today. But what if there was a Hidden Treasure . A prolific area,evada. Untouched for decades waiting to be rediscovered . What if one gold explorer is set to unearth the potential and transform the area into the next big nevada gold district . Corvus gold, gold rediscovered. That selling carsarvana, 100 online wouldnt work. But we went to work. Building an experience that lets you shop over 17,000 cars from home. Creating a coast to Coast Network to deliver your car as soon as tomorrow. Recruiting an army of customer advocates to make your experience incredible. And putting you in control of the whole thing with powerful technology. Thats why weve become the nations Fastest Growing retailer. Because our customers love it. See for yourself, at carvana. Com. Stuart walgreens and cvs, those stocks are way down after amazon started its Online Pharmacy when the big guy gets involved, the little guys run for cover. Susan im surprised it has taken this long since they acquired pill pack in 2018 for a billion dollars. Rite aid, good rx, all other Pharmacy Companies fall during that time as well. Right now amazon is primed to make it twoday shipping for prime members. A Savings Program as well. When you have close to 150 million prime members, that is a big giant coming into the space. Everybody else seems to stuart always happens. Amazon jumps into an industry, everybody makes way and loses ground. Amazon is up 13 bucks. 3146 there. We had big retailers reporting earning this morning. Go through one at a time. Susan start off with walmart, we have to the biggest retailer in america. Ecommerce up 79 . 80 from july to september. That is incredible. We know there is a shift going on in ecommerce and that is accelerating. Walmart customers apparently now shipping to their homes instead of going to the stores to peruse the aisles. Using grocery pickup instead. Curbside pickup is a trend for them. I think the stock might be down on the news. So you buy on the rumor, sell on the news. Higher costs of 600 million. That is being offset. The stock hit a record high yesterday heading into this report card. Stuart looking at home depot. Theyre down 3 . I thought they had a strong report. Susan my goodness, 24 in sales. That is huge in one quarter. Lockdowns meant there is more improvement going on, more do it yourself. But the problem is, i dont think it is a problem, costs will go up by a billion dollars each and every year because they will make the temporary pay raises permanent Going Forward, right . Especially with such a great quarter and strong sales. You know that is going to continue. Stuart walmart, generosity to the employees. Home depot i should say. Sorry about that. Kohls, theyre up 4 . How did they do . Susan kohls is interesting. They actually dropped. They had 13 drop in sales. Customers are buying less apparel, less footwear. Kohls, this might be the recovery story because they are trying to shift online. Is it too late for kohls . Right now look at the stock price maybe not. But they are in danger, given the stock is down 50 this year. Stuart all right. Lets have a look at some states shutting down. Theyre introducing a lot more restrictions. I wonder if it will be a repeat of the last time around where the big guys, the walmarts, the targets, for example, were allowed to stay open but the little guys, they had to close down . Matt shea is the president of the National Retail federation and ceo. That doesnt seem, matt. Targets, walmart, stay open, main street has to close down. Not really fair. What do you say . Stuart, we agree with you. In fact there have been a lot of experiences earlier this year helped us demonstrate that the issue with the spread of coronavirus is not about what a particuarly retailer sells. It is not about the product. Its about the behavior in those physical spaces and retailers all shapes and sizes demonstrated clearly from the beginning of this year, there are ways to stay open, safe, healthy, protect the customers, team members about, communities in which they live. Our operation open Doors Program really pioneered some of that shared experience. We certainly heap as we go into the rest of this year we talked to governors, state and local leaders. I think there is a recognition that there is, some point between either letting the economy run wide open with no restrictions, which is simply going to spread the virus and Closing Everything down. I think we learned a lot. Were hopeful as we go into the rest of this year we strike that middle balance. Stuart what were looking at in the latest retail Sales Numbers from the retail themselves, from the government, it seems to get ahead, stay ahead, improve your Online Shopping experience. Improve your online operation. But again, that favors the big guys. They got the money to invest. Main street doesnt. Yeah. We certainly have been promoting the notion from the very beginning that we need to do more to support Small Businesses and retailers of all shapes an sizes. We saw some of that Fiscal Relief expire the end of july. Consumer behavior has carried forward throughout august, september. With todays numbers, the month of october, for the last nine months of this year, 10 months of this year, retail sales are up 6. 8 . Stuart yeah. Yearoveryear. In the month of october it is up 10. 6 over october of 2019. So consumers are behaving in a robust way but many Small Businesses still need support and relief. We think there ought to be more targeted fiscal support coming from the congress and administration. We hope they get to that. The meantime the best remedy to find ways to keep the businesses open, safely and behaving in a healthy way to protect their businesses and take care of their customers and their employees. Stuart regardless of lockdowns, regardless of the state of the economy, it sure looks like you guys are heading towards a record Holiday Season. You take that, you accept that . Well, stuart, if, if the numbers i just talked about, again, month over month is tough Consumer Spending is so hard to move things incrementally, exgas, exauto spending is very robust, 10. 6 over month of october last year. So if this pattern continues well have the biggest Holiday Season weve had in 20 years, since 2000. Stuart we look forward to it. Matt shea, thanks for joining us. Thanks, stuart. Stuart get back to cosco. They have something unusual. They declared a special dividend. Susan if youre a costco shareholder youre going to like this. 10 bucks a share. That comes to around 4. 4 billion payout from the company. Something that costco can afford since the Balance Sheet is so strong after a record quarter of sales growth, up 17 in three months from july to september. I mean that is incredible. Now costco does reward the shareholders and they do the special dividends from time to time. 4th time in eight years. They like to reward those that stick with the company, right . 10 bucks is definitely i would say generous. Stuart i remember 20 years ago microsoft did a special 3dollar per share dividend. Susan 10 years ago . Stuart 20. Seemed like 20. Dont quote me. Susan inflation is not 3 anymore. Stuart that is why i bought some microsoft stock 20 years ago. Held on to it. Susan are you buying costco giving out 10 bucks a share. Stuart not sure. Percentage wise isnt that great. 387dollar stock. 10 bucks is not great. Would i take it. Folks weve been calling out the hypocrisy of democrat leaders and heres another one. The governor of nevada urging residents to stay home for two weeks but in the same breath encouraging tourists to come to las vegas. Cant make this stuff up. Well talk to a las vegas guy, john taffer no less in the next hour. Also ahead new york Governor Cuomo says the key to being a strong leader, admit your mistakes and shortcomings. Okay. Well follow up on that with him. Well be back. We made usaa insurance for veterans like martin. When a hailstorm hit, he needed his insurance to get it done right, right away. Usaa. What youre made of, were made for. Usaa can you tell me the story again . Every family has their own unique story. Give your family the chance to discover theirs this Holiday Season, with ancestry. And sweetie can coloryou just be. On, gentle with the pens. Okey. Okey. I know. Gentle. Gentle new projects means new project managers. You need to hire. I need indeed. Indeed you do. The moment you sponsor a job on indeed you get a short list of quality candidates from our resume database so you can start hiring right away. Claim your seventy five dollar credit, when you post your first job at indeed. Com home. Stuart take a look at this. The Navy Shooting down intercontinental ballistic missile. It was shot from the Ronald Reagan defense test site. It was shot down by aegis class destroyer. It was shot down over the pacific. The navy calls it a milestone defense. It shows that we can defend the icbms coming in from who knows where. Successful test. Fox news is confirming that the president is beginning to withdraw troops from iraq and afghanistan. Colonel august h pfluger, texas republican is joining us now. What do you say to that, colonel, withdrawing troops from iraq afghanistan to fulfill a election pledge. Do you approve. Thanks for having me, stuart. I was in the middle east four years ago when donald trump took the oath of office fighting against isis. As a commanderinchief he has delivered results. He has crushed isis. He moved violent extremists back to where they need to go. He ran on ending endless wars. I think this is something we can continue to discuss but when he had a red line in syria, he lived up to it. Protected liberty around the world and i think he has done exactly what he was going to do. Stuart if we withdraw our troops does that endanger american interests . It is part of the discussion that needs to happen. One thing he worked on very hard is to work with our allies and partners around the world to strengthen their position to help out. He has done that in the middle east. The district i represent encompass as large portion of the Permian Basin which has a tremendous amount of oil and gas because of his ability to leverage that position he is strengthening the middle east. Look at the peace deals he worked in the last month. Stuart im looking for an opinion here, colonel. You approve of withdrawing the troops . What i think is it is part of a discussion that needs to continue to happen. Stuart do you approve of it . Do you approve of planning to withdraw . He said he is going to do that. We need to continue to look at the troop levels, the threat. It is all dependent on the threat and environment is constantly changing. Stuart forgive me, colonel, you dont sound very enthusiastic . I sound enthusiastic about the president and his ability to protect our country, our interests around the world. This is a continuing discussion that needs to happen. I trust that the leaders and the pentagon along with the National Security council and the white house are making the business decision possible. Stuart touchy subject, isnt it . I will move on to texas. Youre in texas. It seems that, seems to me that red states, texas, florida, you give a lot of freedom of choice, allow individuals to make their own choice about their own risk. But at the same time, the number of cases is rising in texas. What do you say to more restrictions coming to your state . Well i think when you look at operation warp speed the president said we would have a vaccine delivered in record time and he is doing that right now. So those individual freedoms are based on the fact that we know not all states are like others and my state, my district is rural, again, go back to the oil, gas production. Agriculture, were not like the urban areas. So i think at the hoe call level, that is where these decisions need to be made about how were going to countier act covid19, how we will emerge and get the economy back into gear. Stuart your district sits on top of the Permian Basin oil lake i believe. So how do you feel about the Incoming Biden Administration which may, you know, move away from fossil fuels . Were very worried about the rhetoric we heard from joe biden and incoming thought process of a Green New Deal and were fighting against that every single day. We take it seriously. 40 of the countrys oil produced in Permian Basin this is National Security importance. The world has benefited from the production in my district. We will continue to fight for that because everybody quite honestly in this country has benefited from affordable, Reliable Energy out of the Permian Basin. Stuart colonel plueger, congratulations on the win in the election. Come back and see us. Stuart, thank you very much. Stuart actor, musician, john snyder, you know him from his role in the dukes dukes of haz he is starring in a new movie, coming to a drivein near through. He will tell us all about it. Brian kilmeade is here. Including hypocrisy from new york governor andrew cuomo. More after this. Staying on top of your game takes a plan. Thats why at aetna, we take a total, connected approach to your health and wellness. With Medicare Advantage plans designed to surround you with the care you need every day. Aetna Medicare Advantage plans. Adapting. Innovating. 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The kohler walkinbath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. Everything is installed in as little as a day by a kohlercertified installer. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkinbath provides independence with peace of mind. Stuart were just receiving this now. Louisiana congressman cedric rich man will join the Biden Administration as Senior Advisor to the president. Director of the White House Office of public engage men. He is a democrat. So he is giving up his seat in the house. However he will be quickly replaced. So speaker pelosis majority in the house will not be affected for very long. I think we can confidently predict that one. Show you bitcoin real fast because that is making some news here. Bitcoin at the 17,000 per coin level. Do you have a quick comment . Susan in three years, right, dont forget 20,000, the record we saw in december of 2017 just around the corner because of adoption, paypal is a gamechanger. Stuart you explained that to me very nicely. Youre right, it was a gamechanger. Bitcoin at 17,360. Who would have thought. We have five seconds to go. Precisely 10 51 which is, now, on the dot we have Brian Kilmeade joining us. Good to see you, brian. Lets get started with this. Governor cuomo giving advice about handling mistakes. Watch this. The key is to be strong and secure enough to admit your mistakes and admit your short comings. Dont get defensive. Denying the mistake only assures repeating the mistake. Stuart was that directed at President Trump . I think it was. Brian, what do you make of it . Unbelievable the arrogance he consistently shown and lack of selfawareness publishing the book how to handle the coronavirus with were number one in new york of deaths as well as not answering the question of how between six and 12,000 people died in nursing home because of your policy when pressed, you know what he does . He says it was federal government policy from the cdc that i put out. Seema verma came out, i had nothing to do with that. That is not cdc policy. That is 100 wrong. Where is the accountability. Also what is so underappreciated and underreported, not many people around the country care, but it matters, the mayor and governor from the same party hate each others guts. They often times countier program each other with policies do the one thing called hurting everybody in the region. Hurting the city, destroying the city. This guy gutted number one city in the world and want as highfive for it. Wants us to own up to the fact we may have walked against traffic one time so he, we get okay with our maker. The arrogance of him is unbelievable. Also anytime things get tough he blames the president. When in need credits the president. When he gets things delivered after they get there, then he criticizes the president. He seems to think that makes him stronger. It doesnt. Stuart okay. I was watching fox friends this morning and you were talking about the lockdown restrictions in new york state on thanksgiving. No groups of 10, et cetera, et cetera, et cetera. I think you had a sheriff from new york state on who said im not going to police this. Im not going to walk into somebodys house and count how many diners are around the turkey table. Tell me more about this . I think we have a compliance problem with some of these thanksgiving restrictions. There is six different sheriffs in upstate new york, for people around the country, upstate new york is like rural america. Looks more like iowa than new york city. It is wide open spaces. You think i will go into the Rural Communities and knock on their door to do a headcount . Forget it. Not doing it. Somebody came up to him, senior citizen, thinking about having my son over, i want to see my grandkids but i dont want my son to get in trouble. Should i not invite him, put him in a bad situation. Im the sheriff. Im not cracking down, dont worry about it. We all know how to be responsible. Did you ever think you would work in a country, work to get citizenship in the country, told forget about christmas, thanksgiving be responsible . That is what were hearing from the geniuses like the governor of michigan and washington and oregon and this cant stand. Stuart what an extension of government power over our individual lives and homes. I got one more for you, brian, hold on, squad member, ilhan omar, you know what is coming she is comparing trump rallies to klan rallies. Watch this. He chose to speak about me at every single rally, didnt really matter where he was. Sometimes multiple times in a day as he held his klan rallies throughout the country. Stuart did you hear that, brian . Im sure you did, klan rallies. Dear me, have at it. It is inexcusable. She and her catt decided to have a high proquote within the democratic party. Therm bragging about the influence they would have on the former Vice President of the United States. That made them ripe for, to be scrutinized lets say. There is nothing to do with the color of the skin. It is what they believe. They believe we should be a socialist country. They believe we should get rid of oil, gas and cows. They think were gun funnily bad, built on slavery. All those things are against what donald trump stands for and the people, get this, that support donald trump show up at his rallies. 15 to 20 they say are democrats or undecideds. So they were there. For the president to point out an individual rather than a blank policy and put a face behind it is just a democratic face. It has nothing to do with the color of their skin. That is why Burgess Owens or herschel walker, mike tyson, george foreman, jim brown, darryl strawberry, say he is not racist. It is who you are, not the color of your skin or background that matters to him. Stuart youre on form. We appreciate that. You sound surprised stuart, you sound surprised. Stuart well see you soon. Thank you. Stuart big show coming up for you. Steve forbes, ronna ronna mcdaniel, larry elder, jon taffer. My take the Mainstream Media absolutely loves joe biden. How the terribles turn. They hated trump. They love biden. You will see it all. The third hour of varney after this. To support a strong immune system, your body needs routine. Centrum helps your immune defenses every day, with vitamin c, d and zinc. Season, after season. Ace your immune support, with centrum. 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The president , who does speak hyperbolically, when he does, folks go crazy. Im not so sure they need government pouncing them on the head for every little thing. The vaccine has overtaken at least in the market any negativity on the virus. These governors and these leaders have tried to institute these blackouts without really thinking it through. This is a limping lockdown, this is a lunatic lockdown. People are tired of sitting at home yelling at their kids to do their zoom work. People want to travel. Those are tailwinds in the right direction for travel to start returning. I like it like that, yeah, one more time, i can never get enough. Oh, everybody stuart oh, whats that . [laughter] [inaudible] stuart i live and learn every day. It is 11 01 eastern time. Lets get caught up. A lot of red out there, but not assed bad as it was 90 minutes ago. Dows down 230, small loss for the s p. Thats where we stand. So i think weve got, just coming at us now the report on household debt. Ive not seen this, susan has. S has increased. By 87 billion in the Third Quarter of this year, so from july to september. Thats a small increase of of. 6 . Thats close to a record high. Now, most of the stats, as you can imagine, coming from mortgagings, so the mortgage balance accounts were almost 10 billion of the 14 billion, and outstanding student loans, 1. 5 trillion. That was up for the second quarter. Stuart okay. So a lot of the outstanding debt, 10 trillion, is home ownership. Which is positive, by the way. Stuart yeah, if you saw a huge gain in credit cards, you might have to worry, but mortgages, nothing wrong with that. All right, susan, now this. Remember the good old days when President Trump waded into the media taking any and all questions . Oh, the media hated him. They were rude to him, and they made it clear they opposed absolutely anything he did or said. President elect bind held a press briefing yesterday, my, how times change. It was almost funny to see the media falling all over itself to make clear they love joe no matter what he does or says. First of all, it was totally staged. Bidens aides picked out the reporters who would be allowed to ask a question. They knew the chosen reporters would lob only the softest of softballs. And they did. Watch this. What do you see as the biggest threat to your transition right now given President Trumps unprecedented attempt to obstruct and delay a smooth transfer of power . It doesnt appear that the president is going to come around anytime soon and admit defeatso so what are you going to do . What is your message to republicans who are back up the president s refusal to concede . Stuart good lord. Is there any doubt whose side theyre on . Four of the first five questions were about trump. There were no questions about 15 minimum wage, iran, socialism, packing the supreme court, Energy Independence or anything else of substance. And dont expect this to change. The biden camp has a list of news i dont want lets allowed outlets allowed to ask questions, and known opponents are cant out. Welcome to the new reality. The media now defends the president , switching from open hostility to complicit smugness. And the president now answers a minimum number of soft questions at thoroughly staged events. This is the i way t going to be. Its going to be. America will not be well informed either by the media or the president. The third hour of Varney Company is about to begin. Stuart lets get right to it, shall we . Because i see an awful lot of major wall street firms saying look at 2021. Stocks are going up. Were going to have another big rally. You hear it all the time. They are very optimistic about the market and the recovery. Lets bring in steve forbes, chairman and editorinchief. Steve, these people are all expecting good times to roll on. Wall street just loves 2021. Do you in the era of the Biden Administration . Well, at least we can talk comfort that the u. S. Senates going to block big tax increases. I think well win those two runoffs in january, but theyre overlooking the massive newaway of regulations that are wave of regulations that are going to hurt the industry industry, Small Businesses. Small businesses were beginning to increase for the first time in a generation. That was stopped by covid, but its showing signs of recovery. These Small Companies dont have big legal departments to cope with that. I think wall street is ahead of itself on that, and they should see the kind of people they appoint, especially in the unforwards of the bureaucracy innards of the bure bureaucracy before uncorking the champagne. Stuart i agree, but the key to you is the republicans have to keep control of the senate before anything good happens to the economy. Absolutely true. We know what would happen if they got control of the senate. 44 Capital Gains tax, 60 , the income taxes, 33 increase on business taxes, that means less money to pay workers, less money for dividends. All this hurts the stock market. So i think wall street should inhale and wait to see what kind of Regulatory Regime instead of saying, oh, its going to all be good. No, youve got to really examine the innards of this new government that comes in. Stuart let me zero in on president elect biden because he is warning if there isnt a smooth transition process, more people will die from the virus. Hold on, steve, just let me roll that tape, please. Roll it. Refuse aaling of democrats and republicans to cooperate with one another is not due to some Mysterious Force beyond our control. Its a conscious decision. And the idea the president still playing golf and not doing anything about it is beyond my come premention. Stuart what do you make of that, steve . Your reaction . If trump had been done Something Like that, hed be raked over the coals. It was a cheap shot and absolutely untrue. The administration, the fda and others are working at warp speed. The private sector, warp speed. Thats why you have those two vaccines, 90, 95 effective rate, a new therapeutic out of eli lilly, and the Biden Administration is going to slow things down it looks like from the people theyre appointing to the transition teams they have in terms of new drugs and there are putinics. We have therapeutics. It was speeded up under the trump administration. Thats in jeopardy now. So the real, real thing you have to look out for if youre worried about qualities of lives and recovering from diseases is what this new administration, if it gets into power, what its going to do to the fda and slowing up the approval progress, becoming very bureaucratic e again. Thats going to harm the health of the American People, and that is a fact. Stuart you havent lost your fire, steve, fortunately, and we love to see it. I really want to ask you about this, because youve spoken to the secretary of the air force. Youre telling her and youre telling everybody that the space force is somehow crucial to the economy. Now, ive not heard this before. Make your case. Well, take the gps system. We couldnt operate without it starting with our time clocks. We have thousands of satellites in space. Were dependent on everything from weather, military intelligence and both russia and china have been very aggressive in space militarizing space, thats why the space force was created, to counter this threat. Barbara barretts a superb advocate of it. Shes the first civilian woman, among other achievements, to land an f18 Fighter Aircraft on a moving aircraft carrier. Shes been an advocate effective at setting it up. And, by the way, donald trump was criticized and ridiculed when he proposed the space force three years ago, butabsolutely right. The chinese and russians are militarizing space, the iranians are doing bad things, so this was a good thing to do, but hell get no credit for it. Stuart you cover a lot of ground in three and a half minutes, steve, you must be a professional. Thats real cool. [laughter] we will see you again soon. Thank you steve. Thank you, stuart. Stuart lets take a look at tesla are, shall we . Why not, its up 8 . Tesla is going to join the s p 500 as of monday, december 21st. Now, that means if youre a fund manager, a lot of Fund Managers just have to buy the stock because its now in the s p. Youve got to buy it, up it goes. 12 trillion in index funds. Thats a lot of money. They have to buy tesla stock. Stuart got to. 442 is your quote on tesla right now. How about walmart . Strong growth, samestore sales up 6 , i think it was, and a 79 surge in online sales. That stocks ooh turned around. It was down, its now up just a fraction. Home depot reporting strong sales, shoppers focusing on Home Improvement projects. Little profit taking there maybe because its done so well, its down nearly 3 . And then theres costco, home of the free lunch, offering a 10 dividend. You own the stock, you get a 10 special payout just once, 10. Zuckerberg and dorsey, facebook and twitter, being grilled at the Senate Judiciary hearing. Any headlines . Well, so far we have discussion over 230, the Communications Agent where these social Media Companies are shielded from liability. Nothing marketmoving so far. They talked about algorithms and how they specifically select the stories that users read. And views on their news feeds, especially e when it comes to facebook. In the Opening Statements, these ceos said maybe section 230 does need some tweaking, but they shouldnt be repealing it because, ultimately, that hurts the consumers, right . And the reason why this hearing even was ins gated was it goes back to the New York Post, Hunter Bidens article that gop members of the senate, oz you hear here, say was she it was shielded and censored from people being able to read it stuart these guys kept that story out of the news just as the election was warming up. The American People didnt got to see it because they censored it. I think thats outrageous. Thats your opinion. Stuart it is, very much so. Big show still to come. Bar rescue guy, jon taffer is here. Whats he up to . Hes opening a brand new restaurant in the middle of a pandemic . And its restrictions for you but not for me. Another democrat official caught break their own rules. Larry elder calling out California Governor Gavin Newsom. Well be back. Under pressure it was in this small Little Village in connemara. Right connemara it is theres one gift the whole family can share this Holiday Season, their story. Give the gift of discovery, with an ancestrydna kit. Jolene, jolene, jolene. Im begging of you, dont take my man stuart why are we playing dolly parton . There really is a very, very good reason for it. This is real good stuff. She reportedly helped fund modernas virus vaccine. The Country Music star donated a Million Dollars to researchers at vanderbilt university, and she helped create that moderna vaccine. The stock is down, so what . She, dolly parton great lady incredible. Stuart shes a remarkable woman. Interviewed her a couple of times. Oh stuart shes a great lady. What a great entrepreneur too. You never would have thought that, but great business mind. Stuart shes all right. Come on back, dolly, we love you. How about this . Amazons getting into the pharmacy business. Yeah, that is a big deal. Finally, but the fact that i we had amazon rally on the back of this news, the Pharmacy Companies along with it which are down. When a big giant like amazon gets into pharmaceuticals, theyre going to make it convenient to order Prescription Drugs online on their platform. Theres also a Savings Program and free twoday shipping for prime members. Now, we know that amazon was going to do this when they bought pill pack back in 2018. It took around two years, but even then we saw the pharmacy stocks also falling as well, the walgreens, the riteaids and good rx, you knew the 900pound gorilla was going to get into this jungle, and weve seen the reaction today. Stuart walgreens down nearly 10 , good rx,ed good lord. When they have 150 prime members that could sign up, thats a big giant there. Stuart get out of the way, here comes amazon. All right, look at this. This is the ney times which says election New York Times which says Election Security experts contradict trumps voting claims. Ronna mcdaniel, rnc chair, with us now. These guys are saying there is no election fraud. Your response, ronna. Well, clearly, they didnt Pay Attention to what happened yesterday in just nevada where a county commissioner or race is being thrown out because of discrepancies. 2600 ballots were just found in georgia because of an audit, not even a recount. So theyre not paying attention to the affidavits that are coming through and the 15,000 incident reports. Id love for them to go talk to the people who were cant out of poll watching and observing in drought and philadelphia. What weve seen this election is a reworking of laws that have created a porous election and deserves the audit e and all the legal challenges that were putting forward. Stuart can i just sum up how i see it and how i think things are going to go and make any comment you like absolutely. Stuart i think youre going to investigate any and all votes, youre going to count em, count the legal votes, and when its done, i dont think therell be enough votes changed to make any difference in any specific state. And Vice President biden will become president elect biden. But i think that President Trump will be able to say these guys tried to cheat, but he couldnt quite swing it their way. What do you say . Well, i dont think were there yet. I think were still looking at things. The fact that 2600 ballots were found yesterday with, that 150,000 votes in nevada are going to have to be recast because of the end discrepancies there, i think theres a long way to go. Theres a canvass for a reason, theres certification for a reason, and i think a lot of americans recognize that laws were changed in the name of covid that really hurt our election process, and we knead to have certainty in this we need to have certainty e in this process, and were going to pursue every irregularity, allegations of fraud in detroit, people saying they saw multiple ballots being run through. We need to look at all of this. Stuart okay, fair enough. Now, i just want to refer to yesterdays okay. Stuart im sure youre pleased to hear about this, joe bidens news conference. I mean, you saw it. Reporters lob ared softball questions the entire time, total difference from the way the media went at President Trump. I think this is the way of the future. I think weve got another few years of this, and i think its absolutely appalling. There, im feeding you stuff. I think youre right. It is appalling, it was awe palling how he was treated a candidate, that he was never asked touch questions, he was never asked questions yesterday about the laptop. I think they should be asked about whether theyre still going to cast doubt on these vaccines that are coming forward from moderna and the likely hood of those being successful as they did during the this race. You know, no tough questions. Donald trump was always available to reporters, always willing to take questions, he will continue to be that way as he continues to serve this country, and were going to keep pushing to make sure we get the true results of this election. Its not done yet, stuart. Stuart stay with it, ronna and thank you very much for being with us. We appreciate it very much. Thank you. Stuart take me to twitter. 43 a share, they want to compete with instagram and snapchat. Explain. Yeah. So they have numerous sites here that includes a new feature calls sleeps, a competitor to snapchat and instagram, the stories. Thisll be featured to all users on the platform. And you know what that is, right . 24hour disappearing messages. So ephemeral, as you call it. And also twitter is announcing spaces, which is a feature that will allow you to join virtual rooms where they can engaging in realtime audio conversations and similar to another social media outlet called clubhouse. Have you heard of that . A new startup, very popular among Silicon Valley investors because its a chat feature. If i was facebook or snap, would i be concerned . Well, look, twitter has 185 million daily active users, thats very small compared to facebook which, as you know, has 1. 8 billion users each and every day onto the facebook platform, instagram as well. And even at 185 million daily active, twitter is still trailing behind snapchat. If i was snap, i would be keeping a close eye. Facebook, its in my periphery, but im not worried about it. Stuart ive never gotten used to the size of these global audiences. Close to 2 billion people on the planet do facebook every day. And what about valuations . Tiktok has only been around for 18 months, and its already valued at close to 30 billion, and i feel like that kind of shocks you as well, that in 18 months stuart yes, it does. Out of nowhere, worth 30, 35 billion, even bigger than general motors. Stuart its even a concentration of wealth because not that many people work for tiktok. I agree with you, just the explosiveness of these businesses and the growth factor and the numbers that were dealing with and values, yes, its hard to get your head around that. Stuart all right. Lets get our head around this one. Pfizer, theyre going to start a pilot Delivery Program for the virus vaccine in four states. Tell me the four states, ashley. They would be new mexico, rhode island, texas and tennessee. This is a Pilot Program, this doesnt mean that these states are going to get the doses ahead of anyone else. This is just trying to study how the Pilot Program could work. In other words, how the distribution once this vaccine gets approved, how do we get it out there. The challenge for the Pfizer Vaccine which has to be stored at 94 degrees fahrenheit is is how do we continue to keep that storage and distribute safely while mountaining the vaccine. They picked these states, were told, because of the differences in the overall size, the diversity of the populations, the immunization infrastructure and the need to reach people in urban and rural areas. So this is a test run to see how it works. These four states were picked, but i want to reemphasize that this doesnt mean the people in the those four states are going to get a jump to the head of the queue for the vaccine. This is just a test run for distribution. Stuart yeah. But youve got to figure out how to do it before you actually do it. Exactly. Stuart thank you, got it. Theyre trying to restrict our thanksgiving, but you are the keys remain turkeys remain in demand, we are told. In fact, were told they are flying off the shelves, so were going to take you to a turkey farm next, see how supply keeps up with demand. California governor Governor Newsom wants people to abide by restrictions after he got caught breaking them. Radio guy larry elder has some words next. California, california when i was in high school, this was the theater i came to quite often. The support weve had over the last few months has been amazing. Its not just a work environment. Everyone here is family. If you are ready to open your heart and your home, check us out. We thought for sure that we were done. And this town said not today. I wasnt sure. Was another around the corner . Or could things go a different way . I wanted to help protect myself. My doctor recommended eliquis. Eliquis is proven to treat and help prevent another dvt or pe blood clot. Almost 98 percent of patients on eliquis didnt experience another. And eliquis has significantly less major bleeding than the standard treatment. Eliquis is fdaapproved and has both. Dont stop eliquis unless your doctor tells you to. Eliquis can cause serious and in rare cases fatal bleeding. Dont take eliquis if you have an artificial heart valve or abnormal bleeding. If you had a spinal injection while on eliquis call your doctor right away if you have tingling, numbness, or muscle weakness. While taking eliquis, you may bruise more easily and it may take longer than usual for bleeding to stop. Seek immediate medical care for sudden signs of bleeding, like unusual bruising. Eliquis may increase your bleeding risk if you take certain medicines. Tell your doctor about all planned medical or dental procedures. Whats around the corner could be worth waiting for. Ask your doctor about eliquis. Whats around the corner could be worth waiting for. New projects means you need to hire. Gers. I need indeed. Indeed you do. The moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. Claim your seventy five dollar credit, when you post your first job at indeed. Com home. Stuart as you look at the airlines, look at southwest on the top lefthand corner there. They are adding four more cities to their route structure this year, and i believe theyre going to add six more cities next year. Apparently, their trying for for a comeback, and the market likes it because the stock is up just a tiny fraction. What else have we got here . Move on, please. Weve got testing before you get on a flight. Yeah, its coming. United airlines is starting to do it. So, lauren, who is at Newark Airport, tell me about testing before i get on a united flight for london. Whats going on . Well, united wants to work to open borders back up, and mass vaccination is still months away, so trying to boost business in the meantime. They have this Pilot Program, its free. All passenger on certain flights from newark to heathrow will be covid tested just hours before they get on the plane. And the first flight of 36 passengers only landed this morning in heathrow. Everyone wores masks even though everybody was covidfree, but the problem is those passengers still have to quarantine in london for two weeks, and united wants to convince authorities that those blanket quarantine measures arent working, and they could increase travel in a safe way. Stuart okay. Ill take that test. Id like to do that. [laughter] id well, theyre doing this, theyre doing this between San Francisco and hawaii, and it started last month. But immediately after bookings almost doubled as a result because people said, oh, wow, i can get away, and i dont have any restrictions placed upon me when i land because i have proof of this negative test. Stuart so it worked on hawaii, lets see if it works to london when they get rid of their quarantine requirements on the other side. Lets see. All right. Thats my favorite airport, lauren. I virtually live there sometimes. Terminal c. Stuart exactly. Pretty good terminal, actually. [laughter] thanks, lauren. Now, im going to deal with something called test cruisers. Sounds like testing before you get on a flight, doesnt it . Ashley, what is a test cruise . Well, its not to see if the boat floats, stu [laughter] its all about the cdc saying they have to conduct these test voyages, says the cdc, but exactly what it entails has not been revealed. We have a few clues. Royal caribbean has been advertising for volunteers to take part in simulate ared trial sailings, and the response has been incredible. More than 900,000 people 100,000 people have clicked a signup link. But it is likely that the volunteers wont be lounging all day on the l are ido lido decks. The simulation will probably include runthroughs of checkins, transfer of symptomatic passengers and crew members and the quarantining of all remaining passengers. Theyre going to, you know, try all of this out. Its expected the cruise lines will probably use one of their own islands as the destination so they can control the simulation because, i didnt know this, but most of the major cruise operate orers have their own private islands. Stuart doesnt everybody, ashley e . Come on, ash. Apparently, im behind the times. Stuart sounds like a very good idea to me. Yeah. Stuart if you want to test cruising again, thats how you do it. By the way, youve got Something Else here. They spent big buck on brand new ships, and theyve got nowhere to go with them. How much did they spend on this . Well, up to nearly 4 billion. I mean, before covid19 became a part of our vocabulary, 2020 had been predicted to be the beginning of a boom decade for cruise ships, at least ten ships have been, had the construction of them finished. Thats a price tag total investment of 3. 84 billion, but theyre all dressed up and nowhere to go. Another three ships debuted at the beginning of the year, but theyre stuck in a holding pattern. By the way, a brand new adultsonly cruise lines, virgin voyages and ritz carlton yacht collection, they were all set to debut this year. They didnt go anywhere, but they spent a lot of money. So this is tough. Its going to take a while to recover. But you know what . Bookings for next year, next summer, are starting to roll in. Theres a lot of pentup demand. Stuart ive got one more for you, ash, i think yes . [laughter] stuart more california lawmakers going on a junket to hawaii when theyre supposed to stay at home for thanksgiving. Tell me more. Do as i say, not what i do, is the New California state motto. First, California Governor Gavin Newsom admits he made a mistake by attending a party at a napa valley restaurant. Now its being revealed that california lawmakers and lobbyists are among those gathering at a Luxury Resort in maui this week for a conference on, get this, how to reopen states economies in the middle of a health crisis. Kind of ironic, is it not, as californians are being put under stricter rules, especially including the number of people allowed at any gatherings. Lets be honest, the timing could not be worse, stu. [laughter] stuart very right there, young man. Thats right. And then we have californias governor, began newsom gavin newsom, announcing more restrictions as cases surge. Just watch this. Were counties now that we are moving back based on that blueprint, based upon the emergency brake, based upon the protocols that we put into place. Bottom line is were moving from a marathon to a sprint. Stuart all right. Larry elder is with us, salem radio host, a good man. Hes shaking his head because those new restrictions from the governor there, he was just busted for breaking his own rules. Go at it, larry. Well, that is right. You and ashley were just talking about this. These restrictions will clamp down 94, 95 of the state of florida, and as you just pointed out, the governor went to an upscale french restaurant, private party, i think it was a dinner party, birthday party, and he said he didnt realize how many people were there, didnt realize that the number of people broke his own mandate which means east the governor cant either the governor cant count or one more example of do as i say, as ashley just now said, but dont follow what i do. You know, this is a governor and a country, as far as im concerned, that does not appreciate the benefits and costs to these lockdowns. I mean, my goodness, the World Health Organization hired a covid19 envoy, and he said lockdowns are a bad idea, and a petition circulated in the u. K. That has now been signed by thousands of top scientists and other Health Care Professionals who are saying lockdowns, bad idea. Yet were doing it here in california. I mean, my goodness, you cant make this up. Stuart you cannot make this up. And a year ago you couldnt even imagine it happening. I want to move on to georgia. The Senate Candidate on the left, reverend raphael warnock, hes making headlines for a sermon he gave back in 2016. I just want to roll that tape, larry. Hold on a second. Okay. If it is true that a man who has dominated the news and poisoned the discussion from us needs to repent, then it is doubly true that a nation that can produce such a man and make his vitriol go viral needs to repent. America needs to repent for its worship of white men on full display. Stuart im sure you heard that, larry. The u. S. Needs to repent for its worship of whiteness. Your response. Yes. Well, and not just repent for its worship of whiteness, but the reason for the demand for the repentance is that america elected donald trump which means donald trump has been elected because america has been worshiping its whiteness. I mean, what do you say to that . There were 700 counties, 2008, 2012, that voted for obama. 200 of those switched to donald trump in 2016. Now, when did they become racist . Were they not racist in the 2008 and 2016 and then suddenly became rouse cyst in 2016 . And the town that most voted for obama, weve talked about this before, of over 100,000 people is abilene, texas. They just overwhelmingly elected a black man for its first mayor. Racism has never been a less significant factor in american life, and never have the democrats and the media obsessed more on it when its been so insignificant. Work hard, get a good education, dont have kids before you get married, and you will not be poor no matter what your race is. My goodness,es this is america, for crying out loud. Knock it off. Stuart youre wasted in california, youve got to leave. And im off the time. Larry elder, come back soon. Well see you again. [laughter] stuart from his iconic roll in the dukes of hazard, actor and singer John Schneider is starring in a new movie, well tell you all about it in a few minutes. Thats just a little bit more than the law will allow. Did you know you can go to libertymutual. Com to customizes your Car Insurance so you only pay for what you need . Really . I didnt aah ok. Im on vibrate. Aaah only pay for what you need. Liberty. Liberty. Liberty. Liberty. Lexus has been celebrating driveway moments. Heres to one more, the lexus december to remember sales event. Lease the 2021 nx 300 for 349 a month for 36 months and well make your first months payment. Experience amazing at your lexus dealer. We bet you can drive to austin, pick up 400 cases and have it back here in 24 hours. In the movie, it was 48 hours. Stand on it, son stuart i wish i had an accent like that. It was a clip from the new movie stand on it starring John Schneider, actor and charttop or. John joins us now. Great to see you. How come the movie is going to be shown at driveins . Is that your best entry point because the cinemas are closed . Yeah, the cinemas are closed and i love your accent, by the way. By the way. [laughter] i was always a fan. I was born in 1960, and driveins were quite the rage in the 60s and 70s. And i miss them. So this is a great opportunity not only to get back in touch with the cud that was usually locked in the trunk at the drivein, i was the younger brother, of course, but to be able to mix music which is a great love of mine, we did all the music for the movie, and then also to make the movie. Ive been a filmmaker since 1968, and i love thats our car, our car star. A truck is going by. Forgive me, im in the country. Stuart thats all right. That thats our car star from stand on it. Stuart if you can hear me say it again . Stuart if you can hear me, give me 30 seconds on the plot line for the movie. Okay. The plot line is that i am a guy who used to be on a Television Show who has spent half a Million Dollars bet something that they cant do what they did in smoky and the bandit. We are a movie that is totally aware that we are in the world of a movie called smoky and the bandit. So its pretty cool. And tyrus, from fox, is our jackie gleason. And he does a wonderful job. Stuart thats excellent, excellent. Yeah. Its so much and we need some fun right now, dont you think . Stuart yes, we do, john. Look, im sorry thats all right. Stuart youre going to be in 300 drivein movies, places to go for driveins. We wish you the best of luck. You can get the dvd december 4th at John Schneider studios. Com, goodbye. Stuart john, thanks for being with us. Youre very welcome, have a great day. Stuart something of a headscratcher here. The governor of nevada telling locals to stay home for a couple of weeks, but hes encouraging tourists to visit vegas. Stuart how about that . Weve got jon taffer. Hes a las vegas guy. Hes on the show next. Loors. There is a bit of a clogging problem. clog dancing at least geico makes it easy to bundle our renters and Car Insurance. Yeah, helping us save us even more. For bundling made easy, go to geico. Com since pioneering the suv in 1935, the chevy suburban has carried many things. Nothing more important than family. Introducing the most versatile and advanced chevy suburban and tahoe ever. 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. Your journey requires greeliberty mutual. They customize your Car Insurance so you only pay for what you need. Liberty power wow. That will save me lots of money. Youre insured this games boring. Lets get tacos. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Stuart well, politicians in some statee trying to clamp down on your thanksgiving enjoyment, but, you know, people are still going to be eating their turkey, arent they . Kristina partsinevelos is at a turkey farm in new york. Im told there is a lot of demand this year for smaller turkeys. 9 is that accurate . Reporter its accurate depending on who you ask, which producers. At this farm, yes, it is accurate. Why . Because more people, more large gatherings are shrinking down into Smaller Group gatherings. We know millions of americans have had to change their plans for thanksgiving, but turkey is still on the table, and thats why sales are rising. This is tom over here. These guys are pardoned, so so they wont be on your table this thanksgiving dinner. But we came to raleigh, this is a poultry e farm in long island, and theyve been around for 61 years. We know that thanksgiving 2020 brings travel restrictions as well as advisories on having large indoor gatherings. We know according to krogers, which is a large u. S. National grocery chain, they said roughly 43 percent of American Families still plan to celebrate but with immediate family. So its going to be a lot smaller. But that means sales could uptick. I spoke with the coowner of this poultry farm about how her business is doing so far. Listen in. This year our turkey sales have, i want to say, tripled. A lot of small turkeys, medium turkeys since the covid started. A lot of people have been coming back to the farm to eat, to get their food. And we were one of the few that did curb Service Since day one. And you know what . We helped feed the people. Reporter overall, though, theres more studies from butter orball saying roughly onethird of those thousand people surveyed still plan to have thanksgiving outdoors, so people are really trying to stick with it but do it safely. As you can see here, theres been a steady flow of not only turkeys, but people coming in. Business seems to be doing quite well, and theyre expecting sales to be much, much stronger this year compared to last as the Smaller Groups join in a safe manner. Back to you guys. Stuart im glad to hear that, kristina, right there in the middle of it. Watch out, they peck. Now then, lets bring in john tap orer, bar rescue jon taffer, hes got a new restaurant, taffers tavern, and its open in georgia. You promised us a first look, so were here to collect. Show it to us. Well, stuart, as you can see, we sent you a bunch of videos, and were pretty excited. I told you about 6, 8 months ago that this would be the kitchen of the future. And it is. Youve never seen any kitchen like this, and weve given you a lot of footage of it. Youve never seen a cooking preparation like this. Its been a twoyear labor of love, and weve opened in georgia. And, stuart, you know, weve limited reservations to be responsible, covid responsibility, all of our staff has implemented a level of procedures unlike seen in the industry. We have a machine you wash your hands, and you put your hands under the machine, and it gives you a red light or a green light. If this is any bacterial or viral content on your hands, youre sent back to wash a second time. So we actually rate, and they get a green light, theyre allowed to go back to work. And then were systems that freeze glassware before drinks go in it to kill all viral and bacterial habitation. So weve gone the extra mile of doing it really special, and its paying off for us, stuart. Stuart well, youre a brave man to open in the middle of a pandemic and coming lockdown, but we wish you the very best of luck, because i think youre going to make it. Now, jon, im going to switch gears to nevada. The governor there wants people who live in nevada to stay home for a couple of weeks, but he says the state is open to tourists. Youre a vegas kind of guy, does that make any sense . No, not really, but were hopping along on one leg here in las vegas anyway in pandemic. Weve entered Convention Season here now, and there are no conventions booked. So this is a time of year thats historically not a leisure time period, but a Convention Time period for las vegas. So it hurts. What hurt even more was when the governor said if the numbers dont come down in two weeks, hes going the look at another shutdown. Of course, those two words are the most horrifying of all. So its at the moment, its such a weighed balance. Were so excited about the two vaccines coming, stuart. Theyre in our future. We talked about this last time. Stuart yeah. I see boom town when this vaccine happens for cruise lines, all sorts of travel sector businesses. But its so bleak before we see the sunlight. Thats unfortunate. Stuart the night is always darkest right before the dawn. Where did i read that . But i hope its true for you and las vegas and taffers tarve. Jon, best of luck to you, and thanks for being on the show. Good to see you. Stuart now then, news from walmart. We are told that people are stockpiling again. Uhoh toilet paper, paper or towel, cleaning supplies, dry food, the necessities that americans were stockpiling heading into the covid ahead of the covid lockdowns in march and april. So theres been from state to state according to walmart, but on saturday they started counting the number of customers going back in stores to make sure theres enough space to distance. Stuart thats an ominous sign when theyre counting how many people are allowed in and not allowed in. Hate to see it, however, theyre going to do it. Quick check of the big board, a loss of 200 points for the dow industrials. We had been down 400. Back after this. Take on me, take me on. Ill be gone in a day or two. And fight heartburn fast with tums smoothies. Tum tumtum tum tums with tums smoothies. 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. Keeping your oysters growing while keeping your business growing has you swamped. you need to hire i need indeed indeed you do. The moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base so you can start hiring right away. Claim your seventyfivedollar credit when you post your first job at indeed. Com promo. Stuart stock of the day, tesla. Theyre being added to the s p 500 and when you do that Fund Managers, all kinds of financial people and susan is about to he will us, 12 trillion worth of money managed has to be put into tesla. Or some of that has to be. Not all of it. Susan can tell you elon musk is worth right now . Stuart how much . Susan fluctuates with the stock price. 114 to 117 billion. He made 15 billion in one single day so far. Not a bad pay day. Stuart sound effects from our floor manager. Nice whistle. Susan Mark Zuckerberg is number three. Stuart bezos, gates, musk, zuckerberg all worth 100 billion. Susan throw in lvmh. Stuart why not. Time up for me. Dow down 180. Neil, it is yours. Neil right after that list varney, away you go. Thank you very much, sir. We are following all those developments. Also following this Committee Hearing, Senate Judiciary Committee Hearing or shall i say grilling of these tech executives, heads of facebook and twitter respectively here. Before we dip back into that here because both parties are really calling into question whether these guys have gotten a little too arrogant, too big for their britches, well get into details. First to Gillian Turner if they landed any blows. Gillian what do you think . Reporter so far for the two ceos, it is