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FBC Varney Company July 13, 2024

At us, we are at number four. The president , the Speaker Pelosi and treasury secretary mnuchin, they are all on board with a grand infrastructure plan. Leader mcconnell says hold back for now, but it sure looks like a lot more spending is in the works. After all, we are all big spenders now, arent we . Look at the markets. Responding to the jobless numbers and the possibility of more stimulus. The dow looks like it could eke out a small gain of maybe 70. Nasdaq up 17. S p up maybe 10. A fractional gain for stocks despite that jobless number. Look at the price of oil. Up sharply today. The president wants a deal with the russians and saudis and he will meet with Oil Company Executives tomorrow. The oil price this morning is up to, okay, up to just 22 a barrel. Got it. But its higher by 9 . The price of gasoline, look at this, keeps coming down. 1. 97. Thats the nation ....

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FBC Varney Company July 13, 2024

At this. Look at the market this morning. We are going to be down today, of course that follows an enormous 20 rally in the last three days. Perhaps investors are upset with the delay in the stimulus vote. Perhaps theres some profit taking after the explosive rally. The dow will open this morning with a loss of around 700 points. The s p, down about 200. The nasdaq off about 82. A decline at the opening bell. President trump, he wants to get the economy back up and running again as soon as possible. He has a plan to divide counties by risk, high, medium and low, depending on medical conditions. Some of those low risk counties may be able to bring some people back to work early. Today on this program, i will ask Vice President pence about the president s plan. Thats in our 10 00 hour this morning. The news on the virus itself, the United States has now more cases than any other ....

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FBC Varney Company July 13, 2024

We are going to go through a very tough two weeks and then hopefully as the experts are predicting, as i think a lot of us are predicting after having studied it so hard, we will start seeing real light at the end of the tunnel but this will be a very painful, very very painful two weeks. Stuart the president s top medical advisers project a death toll in america of up to 240,000. Everyone is now paying attention. Now weve got to focus what will likely be the worst Economic News coming at us in generations. Millions of people will not be paying their rent this month. How will that ripple through . Millions of people have just been laid off. New unemployment claims coming out tomorrow will again show millions added to the jobless list. The airlines, they are reporting passenger traffic levels down 88 in two weeks. And Mortgage Applications down 24 from last year. The mar ....

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FBC Varney Company July 13, 2024

Discussing just that, an early return to work. 9 40 eastern time today on this program. There is outrage at Speaker Pelosi loading up the stimulus package with a host of items unrelated to supporting workers and industries. For example, canceling post office debt, the return of obama phones, same day voter registration, 35 million for the Kennedy Center for performing arts. What has all that got to do with getting money to people who have just lost their jobs, millions of workers thrown out of a job. However, treasury secretary mnuchin and senator schumer did meet last night, and they suggested that a 2 trillion rescue package, stimulus package, is close. Well see. All this has given the market a shot in the arm. For much of the morning, we have been limit up for the dow jones average and at the opening bell, the dow will be up, what, 900 points, maybe more when the restricti ....

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FBC Varney Company July 13, 2024

Least a gradual return based on local conditions starting in may. Now, in michigan, protests are expected today and that states strict stayathome orders are in question. Thats going to be an indicator of public sentiment after weeks of lockdowns. On the international front, china is now very much in the spotlight. Frankly, its a target. The president s cutting funding for the World Health Organization. Mr. Trump says the virus could have been contained in china if the w. H. O. Had been more honest. And senator cotton and congressman gallagher introduce a bill today that would end americas dependence on chinese drugs and pharmaceutical ingredients. The virus is clearly changing the u. S. china relationship and everything else, of course. On the market, it is all about back to work, when, where and how. On hopes of a return to work, the dow has moved up close to the 24,000 level. It had dropped to 18,000 level last month. ....

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