Transcripts For FBC Varney Company 20240712

Throughout the show. Take a look at tesla up 6 premarket, its going to bust through another alltime high at the open, look at that up to 1277, also a story about red sucking shorts, thats what you call a tease, we will explain, also President Trump tweeting about the markets moments ago saying if you want your 401k and stocks which are getting close to an alltime high, nasdaq already there to disappear, vote for the radical left, donothing democrats and corrupt joe biden, massive tax hikes will make you very poor fast. That is the president tweeting this morning. Speaking of the election, we are for mental weight and joe biden says hes going to transform nation. What does he mean by that, youll guess pretty good as good as ours, he gave no details. Also President Trump will be holding a rally once again this time in New Hampshire this coming saturday and this time it is outdoors, the Trump Campaign is coming up on that shortly and as always a big three hours ahead im Ashley Webster Interest Rate this week and Varney Company begins right now. Ashley lets get right to it, big tech continuing the market dominance, we saw the nasdaq finish at 4 last week and it looks like that trend is not going to stop anytime soon, the nasdaq since last week of ten 10207. I want to 0 in a few names, check amazon, microsoft and tesla all of them in record territory on this monday morning, all up 1. 5 and tesla on a tear again, up more than five and half percent, what about netflix it dropped off a little bit on thursday after hitting an alltime high, that stock is also moving modestly high up a third of percent for hundred 78 for netflix. For now lets focus in on amazon, lets bring in susan lee, they are on a winning streak that has lasted nine weeks. Starting a new week and record territory, on thursday we had a holiday shortened week in amazon, microsoft, tesla and netflix all hitting record highs in u. S. Markets today are pressing a jump, not only on those but across the broad market this is after 6 rally in china overnight, stocks finishing up the highest level since february 2018 and this is after the Chinese Government called for a bold market after covid19 in the globalized world where everything is connected and the money is supposed to going to one market you can bet it flows elsewhere including right here to the u. S. And most of the money going to Big Technology names this year with the nasdaq still outperforming the rest so far in 2020 and i should point out, amazon is over 50 so far this year. Not bad. Ashley not bad at all. Thank you very much. Another market mover regeneron, a biotech firm announcing the start of phase three for the virus treatment trial, that will be a another 3 at 641 for regeneron. With all this said, lets bring in mr. Fitzgerald him himself. We have a nice rally on our hands after a long weekend. More positive news on virus treatment but im reading your notes and you are still concerned, you say about the rise in cases. Im. Its very tough to focus on the numbers when there is different numbers than you expect. We came into the summer expecting to see that case number dropping under control. That is not happening, that concerns me as an investor in trader, i feel a lot like were revisiting february and i just want to make sure the markets dont get ahead of themselves, im concentrating for example my money on the very specific big tech that we talk about, even on energy on the buffer move. Ashley will get into energy in a minute, i also noticed, you are simply buckling up. Of course that is anybodys guess, we went into the fastest bear market in history as a result of the february march situation, i simply think the computer could get out of control and investors need to be savvy, i think you need to be in to win, im not saying sell everything dont abandon, you will play out in every single day you have the opportunity but im very concerned that that field is getting shifted beneath her feet. Ashley stay right there, we mentioned i wanted to check the names of the scrape with duke and dominion, Lauren Simonetti is with us this morning, this is the long delay the Atlantic Pipeline both stocks moving lower. That pipeline is not happening, duke and Dominion Energy are canceling their proposed a billiondollar pipeline that would carry natural gas across west virginia, Virginia North carolina, the pipeline with have a numerous regulatory setback separately dominion is selling some of the natural gas assets in Berkshire Hathaway for 10 million and that purchase is worm buffets first major transaction since the pandemic, his company will carry 18 of all natural gas in the u. S. , now gas prices are up 5 by the way. Dominion meanwhile that transitions to appear play utility company, full stocks duke and dominion down 2. 6 this morning. Ashley interesting. Thank you very much, coming up in our 11 00 oclock hour love Energy Secretary dan brule on the show, be sure you stay tuned for that and will get his thoughts on the development for the Atlantic Pipeline and so many other issues. Dan coming up in the 11 00 oclock hour, keep fitzgerald still with us. You still have skin in the game when it comes to energy names, what do you like . The one im really focused on is in rage, we moved to natural gas at all, that places the oldfashioned supply and demand curve at work, the company was a great balance sheet, it looks like the yield is going to be stable and as soon as i can get some reification on that i think the stock prices will be good especially in income starting environment. Ashley a cautious fitzgerald on this monday, he says buckle up, we will see but as always, great stuff, thank you so much for joining us. Now lets turn to politics in the race for the white house, joe biden taken the Holiday Weekend to fire off not fireworks but certainly some politically charged tweets of the president , here is one of them. He says we are going to beat donald trump in when we do he wont just rebuild this nation, we will transform it. Lets bring in steve cortez american for spokesman, what does joe biden mean by transform . I think its important, we should quote, when somebody tells you who they are, believe them the first time, in the case of joe biden the corporate medir centrist candidate, he is not and we know that by his own words, he has told us who he is. Ill give you specific examples, he has promised for example that he will make all Illegal Migrants in the United States tens of millions. This in two, he will give anna stevens citizenship and Voting Rights to them and he also further promises that taxpayerfunded healthcare will be provided to any and all illegal aliens in the United States, a couple of other examples he promises better overwork the fake hispanic congressman from texas the gun grabbing radical will be in charge of gun policy and is a administration and in a similar way he pledges the alexandria cause you cortez of the socalled squad, i call them the socialist spice girl that she will be in charge of implementing the Green New Deal which we know will wreck our economy particularly in this stage of recovery of the Great American comeback in our country. His agenda is radical, we know this by his own words, Pay Attention and when he tells us who he is believe him. Ashley he has been writing to, take a look at the oped that joe biden road published on the fourth of july, it was titled trump erodes americas foundation, this fourth of july i pledge to rebuild it, that was the title and in it he writes this, every day he finds new ways to dismantle our democracy, he has systematically gone off the guardrails of our democracy, the free press, the courts and our fundamental belief that no one in america, not even the president is above the law. Is this going to be joe bidens mantra for the next four months . If it is it wont resonate with your American People, what will resonate speaking of july 4 is a joy for speech that we saw from the president both his speech at the white house and the night before at Mount Rushmore. We saw unapologetic reaffirmation of american ideals. He spoke with power and eloquence and persuasion that while her contract time has failed to live up to ideals and that is clear and we have to be honest about that, failing to live up to them in no way the majesty of americas principles. I think when the president partially makes the case for american exceptionalism, that will be a winning message for the American People it is needed number one most important for our country but number two politically a winning message that will carry us to victory in november. Ashley it is interesting joe biden with more than 40 years in government im not sure what hes transform in 40 years. Right stuff as always. I appreciate your time. Lets take a look at the features. Were expecting and i start to the new week the first full week of the quarter, the dow showing will start up close to 400 points, 26142. We will see how it works out at the bottom of the hour. Meanwhile they approved they dont know the history after turning down a statue of frederick douglass. He was an abolitionist who escaped slavery, what does the president now say about these vandals, we will show you that story, test on elon musk is breaking the internet with these shorts. Do we have your attention, we will explain that story coming up but first rapper kanye west says hes running for president , is it a little too late for a serious run, i will ask the press campaign while facing the battle next. Marco. polo marco. polo marco. polo marco. polo marco. polo si . Marco. polo scusa . Marco. polo ma io sono marco polo, ma playing marco polo with marco polo . Surprising. Ragazzini, io sono marco polo. Si, sono qui whats not surprising . Geico helping you save even more on car and motorcycle insurance. Ahhh. Polo. Marco. polo now get an extra 15 credit when you switch before october 7th. Always have been. And always will be. Never letting anything get in my way. Not the doubts, distractions, or voice in my head. And certainly not arthritis. New voltaren provides powerful arthritis pain relief to help me keep moving. And it can help you too. Feel the joy of movement with voltaren. Ashley lets get a quick check on facebook, they own a popular messaging Service Called whatsapp, is huge in europe and elsewhere around the world, they will not be processing Hong Kong Police to request to use the data anymore, this comes days after beijing passed a controversial and wide reaching National Security law on hong kong, this was seen as a crackdown major on protesters, whatsapp saying you will not get the data. Next up, lets check uber, the deal to buy outpost mates set in stone, the question is how much. A little over 2. 6 billion, postmates is the smallest of the four food delivers, doordash being the biggest, uber e the secondbiggest and grub hub number three, bought by europe eat take away by 7 billion for only after talks with uber, the emerge or talk broke down, consolidation expected to giving way too many of these players and no one is making any money delivering food, uber wants to get bigger when it comes to food delivery because its been surging with sales up over 50 and the first three months and down 70 in may and postmates needs money so they filed for an ipo in case the deal fell through but if you think about it its a winwin for both. Ashley exactly, now we know its for real. Give very much. Lets get back to the campaign, President Trump will hold a rally in New Hampshire this weekend, it will be outdoors this time, the Trump Campaign is rolling out safety precautions for all of those who plan on attending including apple access to Hand Sanitizer and they will be provided facemasks in are strongly encouraged to wear them. Lets bring in mark, trump 2020 Strategic Communication director, great to see you. Did you learn your lesson from tulsa . Thats where im going with this. We gave away Hand Sanitizer and asked everyone in tulsa as well, this is not a change from us and we have always said we will follow the local guidelines encouraging masks, especially now that we are outside itll be a different situation, were encouraging them to wear them because of something where social distance he may not be able adequately maintained. Ashley listen to what new Jersey Governor Phil Murphy said about masks, lets roll that tape. We have gone to hell and we cannot afford to go through it again, we need a National Strategy and it has to be at the core of that. Ashley the thing i find interesting is wearing a mask has become political and i want to know why. I think its an opportunity for democrats to try to put their one side fits all liberal narrative to good use. Someone on the farm in iowa does not need to wear a mask in the federal government should not order someone out in the farm in iowa or Mountain Range in montana to wear a mask. But if you do need in new jersey and if you do need it in manhattan then let those local decisions happen at the local level, we dont need a National Mandate telling people to do something when they are not necessarily affected. Ashley very good, i have another one for you. I got asking about kanye west, announcing his candidacy for president in a very trampy and way over twitter, heres the tweet from kanye, he says we must now realize the promise of america by trusting god, unifying our vision and building our future, im running for president of the United States flag of United States, 2020 vision. And if you want we have tesla elon musk. He says he is giving his vote to the chicago his blessing, you have my full support. So mark, the question is, are you feeling the heat of competition for mr. West . Welcome to the race, if you want to get into it. Our focus is entirely on joe biden, someone who absolutely stands right now against the flag who has one of his leading vp nominees saying she would be open to a discussion about tearing down statues of george washington. That is the world that they want us to live in and it sounds like at least on this issue kanye and the president on the same page, we need to stand up for the flag in america and Work Together to improve it, not tara and burning down like the radical liberals in joe biden, their weak leader. Ashley the message in New Hampshire, mark pretty much the same, obviously the economy is trying to make its way back, we had the virus flareups that what is the main message for the president. I think the best is yet to come and we can make America Great again. The man who built the economy the first time, we birdie seen hes doing it again. But we need to keep another four years to keep it going, we had a tremendous setback because of the coronavirus and we can rebuild it, we are seeing the millions of jobs, seven and a half million in the last two months, why on earth would you want to hand the keys over to the guy that led the slowest recovery since the great recession. Since the great depression, that is not the leadership that we need to hear the presently into the message as we can. Ashley we will leave it right there, thank you for joining us this morning, i appreciate it. Speaking of test on musk, look out these short shorts. They popped up on teslas online store over the weekend and no, that is not elon musk modeling. Clearly it is not but they sold out in minutes. At 69 bucks, and the red satin shorts as use all their selling out in just a few minutes pretty quickly, it probably looks better on the model than any Hedge Fund Manager prepared the 420 cents or the 420 since reference the 420 share price that elon musk was seeking back into thousand 18 and the sec later sued him for the tweet with the funding secured one but it was over like 41000 times that broke teslas online order because it was unable to process any orders and the shortsellers, the Hedge Fund Investors that are betting that teslas stock will fall and he says a box of shorts due back in 2018, if we can quickly bring up elon musks tagging this morning, he is calling himself a Budgie Smuggler in reaction. We wont get into that. Yes i think it is, we will leave it right there pretty good stuff. Thank you very much. As we head towards the next break, after the break we will have the opening of wall street and what a way to start the week without going will be up, 362 points. Well be right back with Varney Company. Ashley that was from the roadway smash met hamilton, the future film and released to disney 64 million subscribers, lets bring in jeff, he is perfect for this, he is one of the top streaming guys and by the way a producer. This can be a game changer, the film testing for theaters rerouted to streaming shot, i woke up this morning excited as can be that this brandnew road has been opened up to broadway. What it did for disney is unparalleled, they had 54 million subscribers, they probably got a ton of subscribers off of this because you cannot get it in the free subscription, they had to sign up, this is a major thing because you have so many people who cannot go to the shows, they dont live near broadway, the tickets have gotten outrageously expensive, this is bringing great creativity to the masses. Ashley we have about 45 seconds before the market opens, a lot of momentum on the market, it continues to move higher despite the spike in virus cases, are you bullish on the market right now . I think for me at this point, im not a complete bear, ive been buying stocks, i know the fed drives up prices, but if you made 50 in 50 days or whatever people are doing, i think its time to look at the fact that there has got to be gravity that takes a hold to this market as some point and a pullback, it has been on fire and i think there will be a day of reckoning where the economy is going to align itself at the market. Thats an ominous term, the day of reckoning. We will wait and see, keith fitzgerald, to stay there, we will be coming back to you as a start the pricing we hear the bell and we will start up a new week and it looks like it is being open, the future saying we will start off very strongly across the board, the s p and nasdaq have been up for straight sessions, lets get going and take a look at the dow as a trade start to come in for a new day and there you go, almost all green, intel slightly down as you can see in the bottom righthand corner but the open tree 65 for the outside of the dow, that is 26189, lets take a look at the s p for straight sessions higher, 11 sectors on the s p by the way thursday were higher, its pretty broadbased again up one and a third in the fairly early going, that is 3172 and another alltime high that continues to do almost every day, the nasdaq of 154, 10363, im talking about nasdaq, showing you the big tech names in record territory once again, lets take a look, first microsoft up another one and a quarter at 208, show me amazon if possible, they have been nine straight winning weeks as we discussed with susan, up again 52 bucks, honing in on 329,400 and tesla again soaring on the sale of the short shorts, has to be that, up another 5 , an alltime high, 1268 on tesla. Last time i will say short shorts. Uber clinching the deal to buy out food Delivery Driver post mate, we know its an allstar bill around 2. 7 billion, uber up another 6 on that. What about facebook, they own the popular messaging service known as whatsapp, it is no longer polite with police and protesters in hong kong and the request for user data, that stock Facebook Stock up modestly another book 62, 235 for facebook. Regeneron, another biotech firm, they are launching phase three of their virus treatment trials, that is less than a month after they started fast talking that, regeneron up another 12 bucks up 2 at 634, what about boeing, 737 max jet is on its way back to the skies and susan the next recertification test flight could be this week. Yes if all goes well the faa could lift the order grounded all 737 maxes last march and that could be lifted as soon as the september and this might mean the three 737 could fly passengers at the end of this year, theres a lot that has to happen between now and for that to happen. That includes recertification test thats part of the process and that takes places week and also three days of flight tests are performed last week and what their testing continually is a Software Fixes on the inflight autopilot on the system which is blamed for the two fatal crashes in indonesia and ethiopia the ground and 3037 maxes but we know the retesting and the recertification process has stops and starts many delays through the end of the year timeline to get them back into the sky, it might be a bit too optimistic but we had a rally and boeing shares the last two weeks on hopes of the 737 max to fly once again. Ashley indeed, what a long winding road for boeing. Thank you. Sticking with airlines, checks. Airlines, watch this a passenger removed from a flight to florida, why for not wearing a mask. What happened . The trials of stimulation of flying during a pandemic. A man was flying spirit and he got on the plane by wrapping his head scarf around his face and then he took it off and he refused to put the covering back on on his flight on friday from laguardia to fort lauderdale. Thats in violation of spruce policy. Some passengers were sharing video that showed police confronting the man reportedly they arrested him, other video showed all passengers had to get off the plane while this incident was handled. In the absence of a federal law on face coverings while flying carriers have to take matters into their own hands and police it as they think they should. Can you just imagine everything that you do right now to keep herself safe while you are flying, getting on a flight and tina delayed her having to get off the flight because the other passengers wont wear a face covering. It adds to the headache if you will. Ashley it does indeed, just a nightmare, lets bring jeff back in. Isnt this going to be a continuing problem for the airlines, stu often talks about confrontation, people refusing to do things and other passengers in this case saying put on your mask, your thoughts, what can airlines do . People have to travel and theyve done a pretty lousy job of keeping people comfortable, detention levels are now so much higher on airplanes because of the mass controversy but for my opinion, they have to make the role and they have to enforce the rule because if they dont, youre going to have the passengers themselves taking matters into their own hands which creates a chaos that nobody wants to deal with when theyre in a miserable experience to begin with. Ashley it is complete chaos. An absolute nightmare. Check spotify, its been getting a lot of attention from wall street. You could call this stock a lockdown winner. The risk hedge trader says this is a hall of famer class for spotify among the likes for netflix, he says facebook and alphabet which is the Parent Company of google he said spotify is becoming a monopoly in the audio industry in the same kind of like what facebook did was social media and amazon did with Online Shopping and what google did with online advertising. Not what everyone agrees, i was looking at the analyst calls and they downgraded the stocks calling it a sale at the end of last year and spotify could fall 37 from the levels because they will not ever make money paid 100 million to josh rivkin and joe rogan and his podcast. That is exactly where spotify shifting towards right now. Ashley interesting, big hefty bills. Thank you, a quick check on the big board, a very nice positive stock for the week, no doubt on this monday the dow up one and a third of 341point around 26170. Not bad at all, lets take a look at the ten year yield, the treasury if we can, lets see what thats doing, up two basis points, the ten year 0. 693 . What about the price of oil that has been struggling to get above 40 bucks and is down 35 cents, right at 40. 30 almost on 1 for crude. Lets take a look at gold and will bring back and just, gold is at 1797, up another seven bucks. Youve had a hard time finding gold to buy for your clients but you think you can go to 2000 per ounce this year . Yeah, heres the thing a lot of people mistake gold with the etf, that is not gold im talking about physical gold, when people see the world in chaos, they want something tangible. And gold has proven to be tangible. Yeah a lot of people running out to the physical gold market trying to buy bigger quantities than i have ever seen individuals who want to own gold, it is not getting small, it is getting the big allocations and gold which a lot of people want and i think that will continue, here you have an asset that is performing extremely well, why not invest time. Ashley why not, 2000 shares, great stuff as always, thank you for joining us today much appreciated. Quick programming this thursday, fox business neil cavuto will be hosting the next america together virtual town hall in the special guest bob, this should be good, send your questions to invested in you at foxbusiness. Com for your chance to be featured on the show, will be talking about the housing market, very important issue. Moving along the media wasted no time trying to negatively spin President Trump speech of Mount Rushmore, you should just take a look of some of the headlines for yourself and it did not stop there and on the fourth of july growing criticism, will show you later in the show. A century for statues, they try to tear down the nations histo history, one town in ohio is offering unwanted statues a safe space, coming up the state attorney general. 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A lots changed since 1961. Since then over a million Older Americans have used a reverse Mortgage Loan to finance their retirements. It meant so much to nellie, maybe it could mean as much to you. Call now and get your free infokit ashley vaccines, im very optimistic we will have one early 2021. My hope we will have a vaccine that will stop you from getting very sick from the virus. You may still get a mild disease but you wont get very sick. Also one that we need to get every year. Ashley that was harvard doctor saint he is optimistic that we will indeed get a Coronavirus Vaccine by early 2021. Give me the very latest on the race for that vaccine. 145 vaccines are under development in laboratories around the world, 13 are in human trials, that is encouraging. And that is a potential vaccine. Scientists and officials are optimistic as you just heard, we will have one ready by early next year but two questions remain, will people take the vaccine and be as you heard in the soundbite, how effective will it be and how often do you need to get it, it is encouraging but it comes to the caveat in the effectiveness of it. Ashley yeah but 145, surely one of those will be one that does the trick. Thank you very much. Lets stay on coronavirus lets bring in paul, the former chief of communist at the world bank, great to have you. You say that pooled testing, thats when you tested a group of people all at the same time is the most effective way forward, trying explain if you can. When you test one person right now you get a sample and you put in a little while and run into the machine and the machine tells you yes or no was there a virus in the file, pull testing means you get ten people samples or 20 or maybe 50 people samples, put them in the vial, run it through the machine and the machine says yes no, theres virus in the vial, and most of those people most of the time all of them dont have the vir virus, you get a negative and you know they are all clear, if you get a positive you have to go back and retest and figure out who is the person has a virus. But this can radically speed up the rate at which we test people in the number of people we can test. Ashley does that mean we maybe can open up greater capacity, so hard for Small Businesses especially restaurants even when they do reopen the most they can open up his 50 capacity. That is exactly right, think about your story about flying, what if everybody going through tsa did a test and the only people you had on the plane were people who were negative, then you would not have to worry about all the nonsense about the masks and so forth on the plane. Exactly. You cant say you cant get a reservation on the shiva negative test within 48 hours. The test could help us speed up opening but do it safely. Ashley it makes sense, i am with you. Lets talk about if we can the economy in general, do you see a vshaped recovery as some have said and others calling for a more w which is more of a bumpier road back. We had a very sharp downturn and then some recovery in the last month or two so it looks vshaped in the beginning, what we dont know is whats going to happen this fall or next year. And even if we do not have another big setback like a lockdown, it is going to take a long time to get all the way back to where we were before the pandemic hit, the cdo estimates it will take until 2028 to get back to where we wouldve been in the absence of the pandemic. Ashley 2028, here we are in 2020, so the cdo is saying eight years . Yes. Ashley oh my goodness, thats not exactly optimistic but anyway, great stuff. Interesting. Hopefully it is sooner than eight years from now. We need to move on, we have breaking news on Dakota Access pipeline, what do you got . This is about 1200 miles of pipeline that basically delivered the oil to an illinois terminal and the issue is a District Court has ordered the Dakota Access pipeline to be shut down, not only shut down but emptied as well within 30 days, that deadline is august 5, heres the reason they want to link the Environmental Review to take place for two made under native american tribes because of the pipeline, the pipeline cost 3. 8 billion to build, its been operating for three years, and must be shut down and emptied for this District Court judge, one more thing we did a story in the last hour of due condemning and canceling their 8 billion pipeline, this is the reason why, the regulatory risks that come with in the lengthy delays. Ashley we will talk to Energy Secretary about the very issue in the 11 00 oclock hour. Good stuff. Thank you very much. A new poll finds 60 of people are not ready to start dining out again. So does that suggest we will see mass closures despite efforts to reopen, we will get into that issue and also take a look at microsoft, my next guest says that will be the real winner in 2020 and she will make your case next. Businesses are starting to bounce back. But what if you could do better than that . Like adapt. Discover. Deliver. In new ways. To new customers. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back. But bounce forward. Thats why were helping you stay ahead and adapt with a network you can count on, 24 7 support and Flexible Solutions that work wherever you are. Call or go online today. Ashley check microsoft, it has just hit another alltime high. [laughter] why not, play the trump, here is microsoft enough with the trump, were killing it, i sa sold thatt 159 and thought i was a genius. Paul stewart got out of microsoft to early after owning it for years, no one will rub it in a little bit more about our next guest says microsoft is a real winner and 2020 lets bring in the tech stock analyst, good morning, make your case on microsoft. Thank you, when i think about the popular saying microsoft is clearly missing from the acronym, Cloud Software has led us out of the selloff in march and i think any portfolio without Cloud Software would be remiss not to have Cloud Software in your portfolio, the common denominator is actually called infrastructure which is where microsoft leads. When you think about all these Popular Software do Service Names that have led us out of the selloff, they are funneling into Cloud Infrastructure which is where microsoft sitting perfectly. Ashley they are indeed, i want to move on and talk about roku, that stock has doubled since the low in march, are you bullish on roku . I remain bullish on roku, it owns operating systems, the added exchange, the platform, when you have that stack is a very powerful place to be, we saw that recently with peloton, i think you will see more and more apps choose route through and every ad supported option which is above and beyond any other option out there right now. Ashley what about 30 seconds, how about netflix, pandemic lockdown winner for sure, its a very competitive market. Netflix is above and beyond the leaders, it will be very hard for disney or apple to catch up in the way that i look at this, disney is very weak, their theme parks closed, will they be able to put the weight in to capture all the viewers that are coming online with ott right now, netflix also has market corner because they have a lot of content, they spend 15 billion on content and are sitting on a pile of content in hollywood is kind of slow and a lot of other studios are not able to produce content, netflix is standing really good right now. Ashley short into the point, just how we like it. Thank you so much for joining us. Much appreciated. We are just Getting Started this morning, still ahead we have the host of the next revolution, steve hilton will be a long, secretary of energy dan brule and former white house chief of staff mick mulvaney. Keep it right here with Varney Company. Or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. About medicare and 65, ysupplemental insurance. Medicare is great, but it doesnt cover everything only about 80 of your part b medicare costs, which means you may have to pay for the rest. Thats where Medicare Supplement insurance comes in to help pay for some of what medicare doesnt. Learn how an aarp Medicare Supplement insurance plan, insured by United Healthcare Insurance Company might be the right choice for you. A free decision guide is a great place to start. 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One if youre turning 65, you may be eligible for medicare t itbut nly cot vey co aut a0f ofyo o myoyoaricpaarrt b crt bc one if youre turning 65, you may be eligible for medicare a dia redi scareplupenplplen mpe ts t od thand e resllyou to kt may be eligible for medicare ese are endorsened bedaarp. Aacoy pplementlelansnsns re areut w y shsh choshosanosarosp caoday for a free guide. Ashley welcome back, everybody, it is 10 00 a. M. Here in new york. Here is where things stand right now. Check that out, green across the screen. Yes the nasdaq hit an alltime high earlier. The dow up 444 points now. The nasdaq, as we said hitting another record up nearly 200 points at 10402. S p up half a percent. Yes, big tech names you know and love, amazon, microsoft, tesla, all in record territory this monday morning. Check that out. Look attest is a up another 7 1 2 . Up 92 bucks, 1301 on fest la. Wow. Were getting the latest read on services. Susan li with the number. Susan blowout, 57. 1 in the month of june. Much higher than the 48. 9 than economists looking for. What do they mean . Anything over 50 means expansion. Anything below 50 indicates shrinkage and retraction. This indicates we might have getting a vshaped recovery after covid19. Nonmanufacturing, much more important in these days, reporting to recovery in the u. S. Ashley wow, that is a blow out number. Susan, thank you very much. Our next guest says despite two consecutive months of positive Economic Data were still looking at a, one of these, a wshaped recovery. Lets bring in Danielle Dimartino booth, former dallas fed visor. We got the latest services number, danielle. Are you still making your case for a w recovery . It is mathematical we have to see these massive rebounds. Im surprised we didnt hit the 60 mark in services. It is simply of the impulse of reopening. We have to see the massive numbers. Its a question of foalthrough. We have permanent job growth rise by 2. 8 . Which is faster pace than any month during the great financial crisis and hit the same level as what we saw in september 2008. Were talking about permanent job losses in the june jobs report. Those are things that concern you. These are not furloughs or temporary in nature. Theyre permanent. Ashley right. Now im going to bring in politics if i can. I want you to listen to what the white house top economic guy larry kudlow said about rolling back President Trumps tax cuts. Listen to the tape. Im hearing other people on the other side of the aisle talk about major tax increases to roll back to the trump tax cuts. To roll back the regulations for a government takeover of health care. For a Green New Deal that will absolutely destroy consumers and traveling and our leadership in natural gas and oil. There is se nutty things out there if they come into place, it is going to be disaster for the stock market and the economy. Ashley well there you have it, danielle. I guess my question is, how would a joe biden win affect the markets in november . You see a lot of volatility in pricing when you look further out using the futures market around the november area. There is certainly a lot of concer we would see higher tax rates going forward. Heaven forbid we see increase in regulatory apparatus that disappear in the post obama years that has been businessfriendly in the United States. There is no small degrief anxiety, because of less businessfriendly, less entrepreneurial, higher tax rate regimes that the market would begin to price in. Ashley yeah. I think the big difference would be the democrats take the senate as well as the house, have a, biden as president , that way i think the markets will really take a hit. If there is still each house of congress run by opposing parties, maybe that is not as bad for wall street. Well find out soon enough four months from today is the election. Danielle as always, thank you so much for joining us, much appreciate it. Thank you. Ashley take a look at boeing if we can. Next government test flight of the 737 max jet scheduled in the coming days. Trying to get the plane back in service, boeing up in a nice bull market this morning. Boeing up 185, up another four bucks. Lets take a look at uber if we can. They reached a deal to buy postmates for 6. 5 billion. All stock deal, uber up on the news, some 5 1 2 . Up to 32 bucks for uber. Staying on uber, by the way california is planning to reclassify uber if that is right, lyft drivers as employees. This is a big issue. Susan are planning to do that . Susan offer price of 45 a piece. California planning to file the Court Documents that could force uber and lyft to reclassify their drivers as employees within the next few weeks. The states attorney general is looking, theyre looking for this preliminary injunction against uber and lyft which if a court agrees would force them to reclassify almost immediately. That means they have to start paying their drivers minimum wages, benefits and vacation as employees and not independent contractors. Uber and lyft says if the bill ab5 is forced through, it will result in hundreds of thousands of drivers losing their jobs. California government meantimes argues uber, lyft, Gig Economy Companies are shifting responsibility of paying benefits on to the state, taking them from government covers. Uber has been avoiding the ab5 injunction by countersuing and lobbying for the second ballot on the issue to reclassify which these Gig Economy Companies not just uber, lyft, but door dash and postmates of the world will go in the companys favor. Ashley otherwise a huge hit to the bottom line no doubt. Susan, thank you. Lets take a look at grubhub. The Food Delivery Company is planning to merge with a european delivery service. Lauren, which one . Lauren just eat takeaway, which merged this year. Biggest Food Companies in the delivery market. Values grubhub 7. 3 billion. The stock is up 2. 23 . The Major Companies are looking to merge in order to safe. Uber, postmates had negative operations now joining forces. Now you have just eat and grubhub. What is particular they use limited network of their own drivers. They rely making money in the cuts the restaurants pay them to advertise on their sights. Door dash, is number one industry leader. They have a 37 leader and everybody is trying to compete with door dash. This is the latest. Ashley they are. Lauren, thank you very much. Now this, in the last hour we spoke to the trump 2020 team about masks and whether or not the president will wear one. Roll tape. Well i think that it is an opportunity for democrats to try to put their one size fits all liberal narrative to good use. Look, someone out on the farm in iowa doesnt need to wear a mask. The federal government shouldnt order someone out on the farm in iowa or out on the Mountain Range in montana to wear a mask. If you do need it in new jersey, if you do need it in manhattan, let those local decisions happen at the local level. Ashley local decisions, local level. Masks turning out to be a big issue for the administration. Another big Campaign Issue is protecting monuments. Roll that tape. We are now in the process of defeating the radical left, the marxists, the anarchists, the agitators, the looters, and people who in many instances have absolutely no clue what they are doing. We will never allow an angry mob to tear down our statues, erase our history, indoctrinate our children or trample on our freedoms. Ashley strong message from the president. Lets bring in brad blakeman. Former Deputy Assistant to george w. Bush. Brad, is this issue a winner for the president . Sure, sure is. The economy is the number one issue that will decide this election but also the people are going to be thinking about their safety, their history. You know we have to preserve our history warts and all, the good, the bad, and ugly. That is only way we learn from history. We cant pick and choose our laws. We cant pick and choose the history we wish to accept to teach our children. So i think its a winner. Why . Because it is the right thing to do. Ashley another one for you, brad, President Trumps speech at Mount Rushmore got a lot of criticism from the left. Listen to this. Well have you comment on it. Roll the tape. He spent more time worried about honoring dead confederates than he did talking about the lives of our 130,000 americans who lost their lives to covid19. His priorities are all wrong here. This is wartime conservatism. Belief conservatives at war trying to protect the country but i dont think this speech made any sense. Ashley huh. Check out this headline from the morning times. Very quickly, brad. Trump uses Mount Rushmore speech to deliver divisive culture war message. I think you can argue that war was begun on the other side of the aisle. Brad, is this just trump derangement syndrome . Oh, yeah. Now it is terminal. President trumps visit to Mount Rushmore for july 4th was planned long before any of the social unrest that weve seen around america, mostly in democratic cities that are run for generations by democrats. Look, donald trump could have recited the constitution and it wouldnt have been good enough for the left. They dont like donald trump. They think they can hate him out of office. In america we dont hate the president s out of office. We dont run them out of town. We vote them in, or vote them out. Democrats cannot cede that. They tried to thwart him in 2016. They are trying again. It is not going to work. The reason being the president is a disruptor. He is disrupting the establishment. He is working for all americans. If you give him the benefit of the doubt, sit back and look at his accomplishments. He had wonderful accomplishments despite the adversarial attitude by his enemies and the hand he was dealt. Ashley you know what, the hypocrisy, when president obama visited Mount Rushmore, it was called a majestic scene, a majestic setting. Now that donald trump visits the site it is a site that has two president s who were slave owners on land wrestled from native americans. The hypocrisy and the onesidedness is a joke. Right. Look, hour nation was founded by imperfect people seeking a more perfect union. Ashley right. Were now more perfect than we were then but we are better. We strive to be better every day. Not by tearing down history, fighting for rule of law, fighting for principles and freedom for all americans. You cant in America Today have it both ways. Either youre with us or against us. Either you stand for the rule of law, or you stand for our laws and our constitution or you dont. Ashley or you dont, yeah. Simple as that. Brad blakeman, great stuff as always. Thank you for joining us this monday morning. Thank you. After delays and legal battles, Dominion Energy and duke energy are calling it quits on the Atlantic Coast pipeline. Dominion energy Energy Secretary dan brew let is with us. Ohio, ag, dave yost is on the show next he is planning to take gm to court if the state doesnt get its money back. By the way, Car Dealerships are extending their 4th of july sales as desperation to ship inventory kicks in. Jeff flock is in auto dealership in chester, indiana, next. Well see what kind of deals jeff is finding. Second hour of Varney Company is just Getting Started. Polo marco. polo si . Marco. polo scusa . Marco. polo ma io sono marco polo, ma playing marco polo with marco polo . Surprising. Ragazzini, io sono marco polo. Si, sono qui whats not surprising . Geico helping you save even more on car and motorcycle insurance. Ahhh. Polo. Marco. polo now get an extra 15 credit when you switch before october 7th. Iredefined the wordng thschool this year. Now get an extra 15 credit its why, at xfinity, were committed to helping kids keep learning through the summer. And help College Students studying at home stay connected through our university program. Were providing affordable Internet Access to low income families through our internet essentials program. And this summer, xfinity is creating a Virtual Summer camp for kids at home all on xfinity x1. Were committed to helping all families stay connected. Learn more at xfinity. Com education. Ashley welcome back. Lets take a look at the markets. The upward momentum continues losing a bit of steam. We were up close to 450 points on the dow. Still up 328, nothing to be sniffed at. Nasdaq has been in record territory again this morning. Up to 10397. The s p up 1 1 3 . A solid start to the trading week. Lets look at nikola, the rival to tesla. Its founder, Trevor Milton is urging shareholders to leave a facebook group. Lauren simonetti with the story. What is he accusing the group of doing, lauren . Lauren lauren testify more milton is urging shareholders leave the group because he says it is becoming a forum for stock manipulation. That they are hired hands used to stoke fear. Sounds a lot like teslas elon musk and his attack on short sellers. It debuted in june at ipo, 34. It is up tremendously, 58 since then. It is seeing interest in the Battery Powered truck. Customers are putting down 5,000 even without seeing a prototype. The question is can Trevor Milton deliver. Like they questioned elon musk in the past . Can they deliver what they say they can do in this brand new technology. Now you have the nikola founder attacking people who he says are paid, not legit on facebook who are trying to short his stock. Ashley yeah. Sounds familiar. Oh, yes, youre right, elon musk. Lauren yes it does. Ashley lauren, thank you. Now this, General Motors closed its lordstown, ohio, plant in 2019. Now the states attorney general is demanding the carmaker pay back the 60 million bucks in tax credits it got after promising to maintain its operations there. Food time now to bring ohios attorney general dave yost. Mr. Attorney general, youre planning to head to court, right, if gm doesnt pay that money back . Thats right. There is a couple of steps that have to occur legally in the interim. Were ready to go to court. We didnt get the benefit of our bargain. Those jobs are gone and in the valley and we spent 60 million to have them there through 2040. Ashley whats strange about this, surely, wouldnt General Motors have known that even if it was in the small print, that part of the deal in getting these tax credits is that they maintain the operation of the facility . It seems, almost like, you get the money because of youre going to keep operations going and they shut it down. To me it is very flagrant . Well theyre arguing market changes that, there is other fine print and the contract and theyre claiming, look, nobody is buying small cars anymore. So we clearly cant make small cars at lordstown. Our argument is, fine, retool, make some suvs there if that is what youre going to do. Ashley right. Or close someplace else. But we gave you 60 million not to close the plant here in ohio. Ashley when was that agreement made . 2009 and most of the tax credits were frontloaded. So they got the benefit of their bargain but once again, mahoneing valley area gets left holding the bag and we want our money back. Ashley so far what reaction have you had from gm . Well, they have put a filing with the ohio taxing authority laying out their argument which includes, gosh, there is this covid thing and weve done stuff to ameliorate covid so give us a break. The covid epidemic, pandemic happened more than a year after their decision to finally close and two years after they started scaling back and cutting those jobs. Ashley could be headed to court. By the way we reached out to General Motors but have not received any comment as of yet. I want to move on to our next subject, if i can. This is to do with statues around the country that have been taken down amid all the unrest we know that, but a town in ohio, called newton falls, offering to take unwanted statues from other cities. What do you think about that, mr. Attorney general . Well, i suppose statues these days like everybody else needs safe place. I guess its remarkable that some of our small towns are more openminded and tolerant than some of our big cities right now. Ashley yeah. Yeah. Amen to that. Great stuff, attorney general dave yost of ohio. Thank you for joining us this morning. We much appreciate it. Thank you, sir. Ashley thank you. Breaking news from the supreme court. The justices have unanimously ruled to uphold the Electoral College. The court saying that state delegates must back the winner in that state this follows a push to abolish the Electoral College after Hillary Clinton won the popular vote in 2016. The court says, it stays. Get back to cars if we can. Dealerships extending july 4th deals as they try to recover from of course big sales declines because of the pandemic. Good time now to go to jeff flock who joins us. Jeff what else are dealerships doing to try to get those cars off their lots . Well, it is a kind of a perfect storm for them, ashley. I got a deal for you in just a moment. Stand by first to show you the f150s there, just in honor of stuart, he cant be here, well at least show his vehicles. This is ford but everybody took a hit as you know in q2. Take a look at the numbers. Ford was actually the smallest loser but not by much, 33 down ford. Gm down 34 . Toyota, these guys sell the most cars in the u. S. , they all took a hit. Not as much from retail and of course fleet sales and used cars, rental cars. Man, that has fallen out of bed. They didnt sell too many rental car fleet sales as well. Heres the deal for you and maybe it works for both you and i. We have a profession because youre never sure if youre working tomorrow, right . Ford has a deal, ford promise, if you get canned unexpectedly, buy a in the next three months, they will take it back. Look at the fine print. Of course there is always fine print. The deal is, you have to buy it before september 30th. You have to buy a 2019, 2021 vehicle you have to buy it from a dealer and finance through ford motor credit. If you finance and in a year youre, take your car back, but not make you pay anymore. Not bad deal. I may invest in that. Ashley always good to be cautious, i guess. But that is not a bad deal, actually. That is a sign of the times for sure. Jeff flock, fascinating stuff as always. Talking of automakers, the ford bronco is back. Of the iconic truck returning after a quarter of a century. Lets not forget it was also the infamous getaway vehicle for o. J. Simpson in his highway car chase. Can they dust off that image . I will be asking ford coming up. First the u. S. Is showing off its firepower to beijing over the weekend, launching jets and surveillance planes over the disputed South China Sea. Does this mean a confrontation with china is brewing . Were on that story next. Come on in, were open. All we do is hand you the bag. Simple. Done. We adapt and we change. You know, you just figure it out. Weve just been finding a way to keep on pushing. Ashley take a look at the markets on this monday morning. As you can see up across the board. The dow up 286 points, off of session highs. We were up close to 450 points earlier, but nevertheless a solid start for the s p and nasdaq as well on this monday. Take a look at regeneron. Those areas are moving higher up 1 at 628. The company is launching its phase three trial of its covid19 antibody treatment. The stock is up close to seven bucks this morning. Now this, over the weekend the u. S. Flexing its muscles in the disputed South China Sea region launching jets, surveillance planes, helicopters. I think a b52 was included in all of those military exercises. Lets bring in Christian Whiton former state department official. Christian, is there a confrontation brewing with china or is this more sabrerattling . This is more a show of force. Navy has only 11 activecare yes, sir. The one is in overhaul, the rest are in port. To get two carriers in the South China Sea or near there is big deal. The taiwanese suffered incurrings in their air Defense Identification Zone from china. South korea, vietnamese are concerned about china. This is show of force. This proved its point. The global times, one of chinas many government mouthpiece, that the u. S. Carriers are only allowed at the pleasure of chinese. U. S. Navy tweeting that, here we are. We dont need their permission to perform freedom of navigation which is what the navy is doing. Ashley another one for you, christian. Protests in hong kong continuing over the weekend. The first person charged before the National Security law appearing in court today. Listen to what larry kudlow had to say about china and hong kong. Roll that tape. Taking hong kongs freedom away is a global event. It is sending a message that china cannot be trusted. That china is not, never going to be a free country. It moves in exactly the wrong direction. You know well have a g7 meeting later in the summer here in washington, d. C. And the china story is going to be front and center, it is not just us. Europeans are displeased. Canadians are displeased. Indians and japanese are very displeased so well be talking about that for quite some time. Ashley christian, this has been a thorny issue certainly. How does it play out, the hong kong issue and beijings continued incursion into hong kong . Ashley, you will see a smoldering dissent movement in hong kong. This essentially does i have a way with hong kong as sort of like a west berlin inside the enemys camp if you will. It makes it more like frankly poland under martial law. Freedom is essentially receded. The front line is now taiwan. It is no longer hong kong. Xi xinping for all of his strong arm tactics violating the joint declaration they had with great britain, violating the basic law, taking away one country, two systems promised to hong kong until at least 2049. Breaking those international agreements. That is sort of all done with now. Going beyond what kudlow says, this really calls into question whether hong kong can continue to be a financial center. They said, dont worry, were just going after the protesters, not financing. That is impossible to do. They will chase media out of town. Put out an annual report and criticize Economic Conditions on the mainland. Someone says that is unpatriotic and violates the National Security law . Frankly one place in the world where commercial real estate will be high demand is singapore as finance companies flee hong kong for other places. Ashley it does feel like the u. S. China relationship is taking a bit after nosedive. How does this impact the trade deal, the overall trade deal, were still kind ever puttering around with phase one . It doesnt bode well, does it . It doesnt. It is frankly starts to be a little odd the president hasnt recognized this is dead. He wants some agricultural purchases that the chinese have promised. They havent fulfilled their obligations up that, not by a long shot. Frankly if you rip the bandaid off and recognize this trade relationship is going south, why not do it now it will get lost amid all the economic, turmoil behind us. Were now in the recovery. I think you will see a strong up swing. If you shave a quarter point mere or there off gdp because of the china deal, just do it. But i think the president probably wants to wait until after the election. Ashley yeah. I think youre right. Well have to leave it right there. Christian whiton, great stuff as always, talking about china and the on going issues. Christian, thank you very. Appreciate it. Thank you, ashley. Ashley thank thank you. We want to stay on hong kong if we can. Facebooks whatsapp suspending a law that allows Law Enforcement to request user data. Susan li, this is all response in again what we were talking about with Christian Whiton, the National Security. Susan not just the messaging service but now the main facebook platform itself. Were talking about the National Security law and thats what is causing all this confusion and concern. The National Security law means, police can jail hong kong residents without any input from the city. This law means china can govern and supervise hong kongs internet freedoms which facebook is taking another look at. Theyre taking the initiative, saying their suspending passing over any user date to Hong Kong Government requests on the facebook platform and whatsapp itself. They said they need time to review the National Security law and its impact on human rights. Many democracy activists deleted their social media accounts last few weeks for fear beijing would use an excuse to arrest them in the future and possibly jail them. A lot of asian watchers, you heard Christian Whiton, says the imposition of National Security law marks the end of the hong kongs independence and violates the term of the 1997 handover to britain. Facebook, though freely operates in hong kong it can knot operate not operate in main land china. Ashley good stuff, susan, thank you very much. Price of oil is unchanged, 40. 65. That is all on tighter supply. Maybe hopes of better economic date it which would ramp up demand of oil. Plus u. S. Crude is easing the global glut a little but susan, are oil prices recovering . Lauren wti pushing towards 41 a barrel. There are two main forces the investors are wary of. Bearish case that folks will hunker down again, restrict their movement amid a spike in coronavirus case case. That is a concern. It is not reality yet. Img bank looked at traffic data for some virus hot spots, they did not find a significant reduction in traffic. Let me give you the bullish case. Many companies shutting in their wells, taking supplies off the market. That pushes the price up. If you look at 11 weeks from march, before the pandemic, to last week, u. S. Production fell from 13 Million Barrels, a near record, to 10 1 2 Million Barrels a day. That tumble marked the biggest drop weve ever seen. Plus there is opec plus. Theyre cutting production. That has been pretty supportive of higher prices. Ashley yes it has. All right, interesting stuff. Thank you, lauren. The Atlantic Coast pipeline by the way has been called off after years of legal disputes. Energy secretary dan brulee blames it on activists. He join us next hour. Department miss it. Indoor dining was set to resume today in new york city. Can the industry survive on Outdoor Dining alone . Well ask that after this. Usaa is made for whats next no matter what challenges life throws at you, were always here to help with Fast Response and Great Service and it doesnt stop there were also here to help look ahead thats why were helping members catch up by spreading any missed usaa insurance payments over the next twelve months so you can keep more cash in your pockets for when it matters most and thats just one of the many ways were here to help the military Community Find out more at usaa. Com ashley welcome back, everybody. Earlier this hour we spoke to ohio ag dave yost who wants General Motors to pay back 60 million in tax credits from the state. Gm by the way has since responded, here is what they have to say to this issue. Lets give you the quote. It says gm has demonstrated its economistment to ohio through our investments of more than 3. 3 billion in ohio since 2009. Separately, gm and lgkem are investing 2. 2 billion state of the Art Manufacturing battery sell plant. The manufacturing plant will play a Critical Role in gms commitment to all leching tick future. We look forward to continuing our dialogue with the state of ohio. In response to the gm should pay back 60 million in tax credits after closings down the lordstown facility. There you have it. A very strong start to the new trading week. Take a look at the dow, the s p, nasdaq, all moving nicely higher. All up more than 1 . The nasdaq again hitting record territory this morning. Right now at 10,401. Good for about a 2 gain. Now this, a survey of restaurants in new york city found that 80 were unable to pay their rents in full in june. 36 paid no rent at all. This of course all because of the pandemic. Plus, a new harris poll found that 60 of people overall are just not ready to dine out yet, despite a flattening of the socalled virus curve. They dont have the confidence. So now, today, were supposed to be the day when Indoor Dining could resume here in new york city. It was supposed to be. Mayor de blasio and Governor Cuomo agreed to postpone that plan indefinitely. Of course that is spelling even more uncertainty for restaurant owners. So lets bring in now, joseph smith. He is the owner of buffy mans steakhouses. They have restaurants in desee, philly, here in new york. Joseph, can you survive with Outdoor Dining alone . Ashley, nice to see you. Thank you for verying me back. We cant in any way survive on Outdoor Dining. Were a fine dining restaurant. You are not coming to my restaurant to sit on the sidewalk . In a suit in 90degree deal, making a deal or transact business, with garbage trucks, buses, taxicabs going up and down the street bumping their horns. There are 90 different kinds of restaurants in new york city. Were blessed with everything from hamburgers to fine dining. The upper east side, Upper West Side are, they are doing great business. Theyre doing their side walks. Theyre doing the streets, parking areas, taking over. Midtown, where we are, and on broadway, where we are, wall street, we are, there there is nobody in those buildings. The hotels are closed on the west side. The theaters are closed until january. I went up the street to a place called san pietro on thursday, a fine dining restaurant. They had three customers in three hours. The mayor wants to close the restaurants but opens the swimming pools. There is two Different Things going on here. We collect taxes for the city, sales tax. We employ people but yet were getting no help at all from the city. Ashley joseph, how are you surviving . Now that this Indoor Dining plan has been suspended indefinitely, i mean where does that leave you . Well, right now were in a state of limbo. We dont know whether were going to reopen or were not going to reopen because, were taking loans, but those loans have to be paid back personally. So if i am to take all these loans i will be in debt for 30 years. We need help from the government. My landlords to them, they have been cooperative. They have tried to help me the best they can but they also have mortgages to pay. Ashley yeah. It is going to be a lot of restaurants that will not reopen and they will be the ones that are from the 30dollar an entree and up and mainly in midtown. The upper east side, as i say, there is a lot of singles live up there, so they were dying to get out. They were locked up for three months. Best they did was rattle pots and pans at 7 00. Now out by force and social distancing and masks, sometimes, sometimes, not but, we need help from the city. We dont need swimming pools. We need help. Financial help to get the doors reopened. Ashley very quickly, joseph, what about your employees . Theyre in limbo. How are they surviving . They are having a very, very rough time. Some of them are not even collecting unemployment because they cant. Some are 600 runs out they will be in big trouble. Big trouble. And theyre the ones that pay taxes. Theyre the ones that help create, collecting taxes, but the city doesnt care. Ashley right. Right. Listen, we thank you for taking the time to come on. Obviously not good news. We wish you the very best of luck and well stay in touch and hopefully you can get up and running very, very soon. Joseph smith. We wish you the very best. Thank you. Bye. Ashley lets take a look at trip advisor if we can. The ceo says a lot of people are shunning the south and west as virus cases rise there. I guess that is not surprising. Of lauren, where are people looking to vacation then . Lauren here in the north. More people are booking trips, that is the good news, ashley. But theyre changing where theyre going and often changing that at at last minute. Lets listen to the trip advisor ceo himself. Yeah. So if you look at the traffic on our site, we have hundreds of millions of visitors on trip advisor each and every month. If you look at the top searches and i think five or six of the top 10 a couple weeks ago, were all wonderful southern beaches, texas, arizona, florida, great places to go but that switched. Everyone is moving, essentially up north, away from all these hot spots, which is totally understandable. Lauren and remember when you come here you might be asked, why arent you selfquarantining, but bottom line, ash, flexibility is key. That is why so many people are filling up the gas tank and driving somewhere that is a short distance away. Ashley it is the year of the road trip no doubt. Lauren, thank you very much. Tsa checkpoint by the way travel numbers continue to inch much higher this Holiday Weekend. That is a good sign. It tells us people are out and about. Here is another positive sign. Us air carriers, reporting higher booking numbers. By the way American Airlines is now booking full flights. United is selling as many seats as possible. Well have that story. But first, remember this . Infamous, 1994 o. J. Simpson car chase . It played out on tv screens across the america and the truck he did it in was a ford bronco. Well after more than 20 years, guess what . Ford is reviving the bronco brand. Well have all the details for you right after this. Im a performer. Always have been. And always will be. Never letting anything get in my way. Not the doubts, distractions, or voice in my head. And certainly not arthritis. New voltaren provides powerful arthritis pain relief to help me keep moving. And it can help you too. Feel the joy of movement with voltaren. Feel the joy i geh. Common bird. E. Ooh look over here something much better. There it is. Peacock, included with xfinity x1. Remarkable. Fascinating. Very. It streams tons of your favorite shows and movies, plus the latest in sports news and. Huh run the newest streaming app has landed on xfinity x1. Now thats. Simple. Easy. Awesome. Xfinity x1 just got even better with peacock premium included at no additional cost. No strings attached. Just say peacock into your voice remote to start watching today. Ashley all right. Lets talk ford. The iconic bronco is back with three new models. Good time to bring in fords global director of icons, that is a great title. Dave, look, i got to say this car is part of american history, no doubt and somewhat infamously with o. J. Simpson and the socalled bronco chase, right . Well, yeah, clearly that is something that people do remember but i hope that is not only thing they remember about it. The bronco, we used it in 1966. It very quickly became a vehicle people loved and created a lifestyle around. Here we are today. They have been asking us to bring it back and the bronco is back. Ashley and was that by popular demand or was it a decision by ford . No, really is by popular demand. It is an icon. Icons are earned an theyre not made and customers that decide when something becomes iconic and they have been asking us to please bring the bronco back. Suvs are very popular. In fact in 2019 they have had their strongest sales ever. This is the type of vehicle people want. Get them a vehicle that will set the bar as it did in 1966. Ashley i asked for the design quickly. You know, listen when we look at that 1994 footage, very boxy vehicle, always has been. Is it more, very quickly talk about the design . Yeah. I mean, what theyre going to see on july 13th when we unveil it, you will see a lot of dna people love about the bronco but in very modern way. It will be unmistakably bronco but something fresh and new. Ashley very good. We look forward to it. I know it was short and sweet but we appreciate you being on. And, we look forward to seeing the new ford bronco. Thank you so much for joining us. Yeah, no, thanks for having us. Have everybody tune in on the 13th, my pleasure. Thank you very much. Wicked delay. Like he was in australia. Still to come on Varney Company Energy Secretary dan brouillette, he says activists are to blame for the failed Atlantic Coast pipeline. Well get into that. Economist steve moore wants a lockdownfree country and he says shutdowns do not make people safe. He will make his case next. Youre first. First to respond. First to put others lives before your own. And in an emergency, you need a network that puts you first. 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Retire better ashley all right. Feeling good, sunday best. Its 11 a. M. On the east coast. We are kicking off the week with a lot of green. Good morning, im Ashley Webster in for stuart varney. The nasdaq hit an alltime high this morning, right now up more than 2 at 10,433. The dow and the s p also up well above 1 . And by the way, talking about record highs, microsoft also hitting that mark earlier, up 3. 69, closing in on 210 for microsoft. Not to be forgotten, amazons stock now trading above 3,000 for the very first time, or they were. Just coming back a little bit but, oh, so close. 3,000, up 108. There you go whew, got it. Teslas also in record territory, shares up after Jmp Securities boosted its price target to a higher 1500 for tesla. Tesla again on a tear today, up more than 100 at 1311. By the way, the company is expected to generate 100 billion in yearly revenue by 2025. Thats not that far away. And take a look at uber. They are also moving higher after announcing that they will buy postmates for 2. 65 billion in an allstock deal. Uber technologies up nearly 2 at 32. 50 on that news. All right, turning now to a fox business alert, time to bring in Edward Lawrence who has the latest information on the paycheck protection program. Edward. Reporter yeah, ashley, were talking about 4. 9 million loans have been given out, approved, 521 billion. That program went live again accepting new applications this morning at 9 a. M. Because the president signed that extension over the weekend. Now, theres some 132 billion left in the pot here. The Administration Says that this program has saved 51 million jobs. And if you look underneath that, it looks like 6. 5 million jobs saved in california, 4. A 5 million save 4. 5 million saved in texas, 3. 2 million saved in both new york and florida. Also going live today, the administration is i leasing information releasing information about the loans, more than 15 is 0,000 150,000 worth. How much those company got. Now, theres been a lot of talk about that with the forgivable loans. Also the loans that were returned, theres been a lot of discussions about Larger Companies who got those loans, some 30 billion was returned. We will not get information on those companies that Administration Officials say those were canceled loans and deleted from the system. Ashley . Ashley all right. Thank you for that update, Edward Lawrence. Lets bring in steve moore, freedomworks economist and a Trump Economic Recovery Task force member. Steve, you seem very firm on the idea of a lockdownfree country. You say it will not prevent deaths, a lockdown. This as labor secretary Eugene Scalia says that the majority of workplaces are safe. Listen to this. Theres a lot of room to put people back to work even as we do pause certain types of reopenings like restaurants. I think most workplace ifs are safe workplaces are safe, we know the steps to take, and im seeing them taken in workplaces taken across the country. Ashley so, steve, despite some covid surges in the sun belt that weve seen, there are some encouraging numbers. The question how do we keep that trend heading up. Well, by the way, some encouraging numbers is an understatement. You know, we found over a 90 reduction in the death rate. You would think that would be the headline every day, but of coursest t not because the medias portraying such a negative thing. The other thing i would say about this is we now have three or four months worth of evidence, expect evidence is crystal clear, its irrefutable that lockdowns actually had no positive effect whatsoever. When i talk about lockdowns, im talking about businesses shutting down their operations. Theyve had zero impact. In fact, its really interesting, the states that have the strictest lockdowns have death rates that were 510 times higher than states that had no lockdowns at all. So theres no relationship. Now, that doesnt mean we shouldnt do social distancing, we should. It doesnt mean we shouldnt wear masks, we should. But we should be smart about this, and theres no reason to paralyze our economy again as some out of the left are talking about, theres some chatter about, you know, reversing opening up. And that would be really negative for the economy, and it would hurt workers. And, by the way, the people who get hurt the most when you lock down the economy are people at the bottom of the income scale. Ashley very good point. I want to move on talking about the economy, helping it. Talk about a payroll tax cut. Im assuming youre in favor of that. I know the president would like to send out checks maybe up to 1200 as direct stimulus. You think a payroll tax cut really will give the economy the boost it needs. Yeah. We have a study out that was featured in the wall street journal on friday where we, i did this with my friend Casey Mulligan whos the top labor economist in the country at the university of chicago. And we estimate that about 2. 53 million additional jobs will be created before the end of the year if we suspend the payroll tax for every worker and every Small Business in america. Thats a big number, 3 million additional jobs. Heres the other thing thats so important. If we go the opposite route and do the pelosi plan of extending these Unemployment Benefits which are giving people 600 a week, and that means three out of four workers get paid more for not working, we find youll have about 10 million fewer jobs. I took some heat for saying this on your show last week, steve moore doesnt care about unemployed people. No, im not saying we should get rid of the Unemployment Insurance system, we should. We should provide a safety net for people who have lost their jobs. What im saying is that the vast majority of people understand the basics of economics. You cant pay people more money for not working than to work and expect people to get back on the jobs. And ive watched your show, you know, day after day, you have stories all the time on employers who cant get workers back on the job because theyre getting paid more. And one other aspect, how is it fair, liberals love to talk about fairness. How is it fair for the construction worker whos getting up at six in the morning, working 40 hours a week, thats a tough job, its, you know, a very difficult job to be on a construction crew or working in a factory. That person comes home, and hes getting paid less than the guy sitting on his couch and watching tv . How in the world is that fair . Ashley yeah. Its not, bottom line. Steve moore, as always, thanks for joining us this morning, steve. You are not a fan of the lockdown, i understand. All right, thank you so much. Have a good one. Ashley by the way, i guess this is no big surprise, but big tech has seen their bottom lines expand very nicely under President Trump, but the employees are working hard to make sure that mr. Trump doesnt see a second term. Come in, steve hilton. Steve, youre in the belly of the beast. Why is Silicon Valley pushing so hard for joe biden, of all people . [laughter] well, its interesting, ashley, i think this is just an internet age version of an old phenomenon. We used to call it limousine liberals, back in the u. K. We talked about champagne socialists. People who are very wealthy themselves, they have no problem funding their lifestyles, they are paid an enormous amount and, therefore, they can afford leftwing politics. They can afford the kinds of things steve was just talking about because theyre going to be fine. Whatever happens. So its okay for them to support these policies. They dont mind that its going to put people out of work or raise peoples taxes, because they can afford it. The phenomenon is even more bizarre when you look at politics on the state and local level here in the bay area in california. If you look at the factors around here that these same people complain about the whole time, they complain about the lack of affordable housing, about terrible transportation, they complain about soaring crime in places like san francisco, the quality of life. Whos been in charge of these places forever . Its the democrats. And yet they continue to support them. Its completely illogical. Ashley they just cant connect the dots. Its very odd. Steve, i want you to take a look at your screen if you have one there, hopefully. Officers dodging fireworks in the streets of portland. Police were forced, once again, to declare a riot. Whats it going to take to regain control of these cities . I think its a really interesting question. We discussed it on my show last night because theres a temptation, i feel it very strongly, actually. When you see all of this going on in portland and elsewhere around the country, youve got to have some kind of a National Control asserted over this because its getting completely out of control, and its in multiple places. People are dying as a result of it. But, however, in our system, our decentralized system here in america which im a very big fan of and id like to see even more decentralization, in the end its the local leaders, the mayors, who are responsible. So i think its going to be quite a longterm process. But the optimistic scenario i is actually what happened in new york a few decades ago where after years and years and years of that urban chaos and decay, new yorkers voted for Rudy Giuliani to sort it all out, and he did. I think that is the Silver Lining here that, actually, when people see the consequences of this kind of loony left democrat leadership, they will turn to republicans in the end. I just dont know how long its going to take. [laughter] ashley i was going to say, painfully slow, but i hear you. Steve, when can i and everyone else watch you on tv . Well be on next sunday as always, nine eastern, fox news, the next river pollution. Next revolution. Ashley fantastic stuff. Thanks for joining us, appreciate it. Thanks, ashley. See you soon. Ashley the Summer Travel season now in full swing, more than 626,000 people passed through checkpoints on sunday. It is starting to pick up. Lets bring in kristina partsinevelos. Are people finally ready to fly again . Reporter well, by the looks of it today, i would say, no, because the airports relatively empty. But like you mentioned, july 4th weekend is a crucial test. Take a look at some of the changes at laguardia airport, they have the plexiglas dividers as well as you can see that every single moving location you also have Hand Sanitizers and hand sanitizing wipes. But you were talking about whether there was a travel bump. The latest tsa numbers actually show that, yes, there were more travelers this past weekend. The numbers that we got for friday were actually higher, ashley, than what you said, 764,000 people were traveling. Yes, thats down compared to last year, down 64 , but nonetheless that number is still the highest they weve seen in the that weve seen in the past four months. The major concern is social distancing. A lot of airlines are forcing people to wear a masks on the plane. We know over the weekend, on friday, there was one passenger with spirit airlines, a similar situation happened with American Airlines in june, and delta threatened to ban passengers if they dont wear their masks. Travel is being tested, and there was a deal worked out between the Treasury Department and five airlines including American Airlines, sky west, hawaiian, privatelyheld frontier. And what they have and i should say these agreements, we dont know the exact amounts of the loans, but its to the tune of billions of dollars. Is so overall, theyre trying to get through this as travel is slowly, slowly come back. Ashley, back to you. Ashley they do, indeed. I can see a lot more confrontations in the future. All right, kristina, thank you very much from laguardia. Guess what . Baseball season is finally back. No, theres no people in the stands, but one team still selling season tickets to their diehard supporters, that is. Well explain. And stadiums, parks and businesses closing around the country as virus cases start to spike in some areas. Is it time for another round of stimulus . Well discuss that. But first, the Atlantic Coast pipeline is canceled. Energy secretary dan brew lay blames the failure of activists. He joins us next. Hey, can i. Safe drivers save 40 guys guys safe drivers save 40 safe drivers save 40 safe drivers save 40 thats safe drivers save 40 . It is, thats safe drivers save 40 . Hes right there. Its him safe drivers do save 40 . Click or call for a quote today. Ashley well, breaking this morning, a u. S. District judge is ordering the Dakota Access pipeline be shut down pending further Environmental Review. Of course, this follows the news that Dominion Energy and duke energy are canceling their Atlantic Coast pipeline project. Seems like a good time to bring in u. S. Energy secretary dan brouillette. Mr. Secretary, in both of these cases to you blame activists for essentially shutting them down . Thats right, ashley. Great to be with you. I do, in fact, i do, indeed. In both cases i think its applicable. Ive not seen the latest decision by the District Court judge on the Dakota Access pipeline, but i will take a look at it as soon as i leave here. The decision by duke and dominion, however, is so disa appointing because its a lost are opportunity. If anyone could have made this happen, its probably these two companies. Theyre led by some of the smartest ceos in the utility business to the. And its a today. And its a lost opportunity because of the number of jobs that would have been created in places like west virginia, pennsylvania, ohio, virginia and north carolina. The other lost opportunity here is Lower Energy Costs for all of the residents in north carolina. So a very important decision by these two companies. Disappointing, but i understand it, and its economically rational. Ashley want to talk about the energy sector, in particular oil. You know, its been a real hard go because such, you know, such low prices, and the crude oil right around 40 a barrel right now. So much of Americas Energy independence has been, a lot of that, thanks to frackers who have really made a difference. But how are they surviving in this environment, because were getting reports that more and more are are having to, essentially, go bankrupt. Thats right, ashley. Some are just highly leveraged, and theyre going to go by the wayside. Thats the way the free market works, thats the pressure that theyre under. But many of them are beginning to ramp up production again as the demand comes back for Refined Products like gas lean and diesel. Gasoline and diesel. Were going to see them come back to the market very, very quickly. But, you know, you opened your shows with the infrastructure programs, were seeing more and more difficulty with the ability to generate infrastructure here in the United States. We are still the Worlds Largest producer of oil and gas. We are having difficulty, incredible difficulty developing the infrastructure thats necessary to get the product to market. And we have to fix this regulatory construct in which were operating today. Ashley essentially, when anyone proposes a pipeline from one place to another, it appears that in comes a lawsuit to prevent it even if they dont know where it is and what its for. Its, in fact, blind opposition to anything that the Energy Industry tries to accomplish. Thats correct, i would agree with that. Im not quite sure what theyre cheering except for perhaps the loss of jobs all throughout the america. Ashley yeah. The other important aspect of this, were seeing this activism come from environmental groups who supposedly want cleaner energy. Well, you know, the message i would share with the viewers today is that renew bl energy is almost entirely dependent upon the provision of base Load Electricity which comes from natural gas, Nuclear Energy and other sources. 24 7 power. Ashley how Energy Independent are we still . I mean, obviously, for so long anything that happened in the middle east immediately spiked fuel prices in this country, we were so beholden to opec. Now we have a lot more power. But this downturn in the economy, how has that hurt Americas Energy independence, or has it not at all . I dont think its hurt the independence of america, you know, the pandemic is worldwide, so all economies have slowed down to some degree. Ashley yeah. Production has slowed down around the world as well. We just went through a series of conversations under the g20 construct with our colleagues around the world including canada, mexico, brazil as well as saudi arabia and russia. And what were seeing is production is down all across the world, but the United States still remains today the largest producer of both oil and gas. Ashley and a lot has been made of liquified natural gas, liquified natural gas, hng, but again lng, but there is an infrastructure problem getting terminals in place in order to be able to move this product. Is that still an arab shoe . It is. Issue . The export opportunities are tremendous, theyre absolutely enormous. And in about an hour, were going to make an announcement to announce were going to move forward with a first of its kind export project. Ashley i look forward to hearing about it very much, mr. Secretary. Thank you so much for taking the time to join us this morning. Thank you, ashley. Great to be with you. Ashley all right. Lets take a look at gas, talking of energy. Mississippi, of all places, enjoying the countrys cheapest gas at 1. 82 for a gallon of regular. Not bad. I dont see stu driving all the way down there, but you never know with stu. Its nice and cheap in mississippi, 1. 82. A new report shows the toll the virus is taking on oil. Lauren, how much, i guess the question is demand and how much could it fall . Lauren well, Global Demand could fall by 2. 5 Million Barrels a day as we see these covid spikes not only around the u. S. , but quite frankly, around the world, ashley. They say that could happen if those parts of the world impose new lockdowns which restrict movement of people, restrict travel. For an idea of how much the world uses each day before the pandemic, it was about 100 Million Barrels a day. In april at the height of the quarantine, the lockdown, 74 Million Barrels a day. Now were at about 89 million. So as you see, oil prices do have an up arrow today, 40. 79, because there are reports that say even though there are spikes in some places, people arent really hunkering down. Theyre still going places, theyre still filling up their gas tanks. Ashley right. They are. The road trip is alive and well. Okay, lauren, thank you very much lauren theres nothing else to do. Ashley so stocks yeah, right. Some stocks making headlines this morning, lets begin with locken coffee, shareholders are removing the chairman, but as you may remember, the Company Reported fake annual sales of about 300 million. Luckin coffee. Take a look at spotify, that up more than 125 since march, pretty impressive. Wall street traders or say it can take control now of the audiomedia industry. What do they do . They sell. Spotify down about 1 , down 3 at 268, but it had been on a tear. Take a look at facebook, they own that messaging app whats app thats very popular around the world. They will no longer process hong kongs police requests for user data as a way to crack down on protesters. Facebook up nearly 6 at 239. And take a look at Harley Davidson is, theyre up after an upgrade from citi which says theres a potential for a turn around of harleys new ceo, that stock up more than a 5 at 24. 67. All right, move over, kylie jenner, dwayne the rock johnson just smashed one of her social media records. Well tell you which one coming up. I know you cant wait. And as virus cases spike, the governor of new jersey calls for federal action. Roll tape. We went through hell, we cannot afford to go through hell again. We need a National Strategy, i think, right now, and masking is going to be at the core of that. Ashley and now the Trump Campaign is encouraging masks. Well have that next. Introducing stocks by the slice from fidelity. Now you can trade stocks and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. In a highly capable lexus suv at the golden opportunity sales event. Lease the 2020 nx 300 for 339 a month for 36 months. Experience amazing at your lexus dealer. We are unleashing our nations scientific brilliance, and well likely have a therapeutic and or vaccine solution long before the end of the year. Ashley well, that was good news. That was President Trump. He is very confident the vaccine is just not very far off, this as the country added another 49,000 cases yesterday bringing the total number in the United States to nearly 2. 9 million. Montana, tennessee and alaska are seeing the largest average increases over the last week. Well, as those cases increase, the Trump Campaign is strongly encouraging face masks at outdoor rallies including one scheduled in New Hampshire this weekend. Time to bring in mick mulvaney, former acting white house chief of staff. Great to see you, mick. Will the president wear a mask, do you think . I dont know. I think its more important that he send the message that other people should. Keep in mind, the president s not the best sort of metric on mask wearing because if theres anybody who is socially distanced in the country, its the president of the United States. Theres literally hundreds of people that do nothing but keep other people away from him. Plus, while im not in the white house anymore, i do know anybody who goes in there is tested on a regular basis. I think they may be tested every other day. So the president himself is not the test case. The message is whats important, and getting that message out, i think, is an Important Development for the campaign and for the administration as they learn more about the disease and learn how masks can help us to get that message out there that folks should wear them. Its a very low cost way to protect yourself and your neighbors. Ashley want to talk about the economy. Stephen moore, we had him on the show a little girl, said we need a a little i dont recall, said we need a payroll tax cut. But you say, if im right, that the second stimulus, or is it the fourth now, that its bad, and masks are the key to reopening the economy. Make your case. A couple Different Things. I enjoy working with steve, i think hes a very bright guy, but i think hes ignoring the fact that the first big stimulus there have been a couple small ones, but the cares act i think as of last week, half of the money that congress appropriated and the president signed isnt out in the economy yet. And the money that has flowed out into the economy is sitting, in large part, in bank accounts. I think the cash account deposits up 2 trillion since last april. So the things theyve done in april havent kicked in yet. Now is not the best time to start looking at the new stimulus, or it may not be. Youve also got the opportunity to allow things to kick in that have just come into play. For example, usmca just took effect on july 1st. That will have a stimulative effect. The continuing efforts on deregulation are still going to help boost the economy. And weve all wanted to sort of see the stuff come back. Over 7 million jobs in the last two months, retail sales are good, new home sales are good. Things are coming back quicker and better than we expected. Now is probably not the best time to look at another stimulus. Ashley because you dont like spending, i would imagine, correct . [laughter] you know, were running up a huge bill here, and youre not a big fan of spending. I dont like wasting money. And my fear is theyre going to do something thats political. Look, if youre going to do a stimulus, lets be perfectly candid, theyre going to pass something, they just are. Were in a recession, its an election year, so lets do something smart and solve the problem. Youre not in a recession because of a financial crisis or Household Savings or even a financial crises in an economic recession because of covid, if were going to spend a bunch of money, lets target it at covid. Lets get more hospital beds, better testing. The testing is still not where it needs to be. Lets solve of the problem. Look, you can send people a check to go on vacation, which i think is absolutely absurd, but if theyre afraid to get sick, theyre not going to use it. Soft the problem solve the problem where people are comfortable traveling, and they will do it on their own accord. Ashley we hear you loud and clear, mick mulvaney. Great to speak to you, have a great day and thanks for being on the show. Its good to see you. Ashley all right. There you have it. By the way, we are going out to eat again, maybe not in huge numbers. Lauren, restaurants are in some cases starting to rebound, perhaps . Lauren each if were just eating outside. More people are dining out. Lets take a look at friday night reservations starting june 5th, that friday when they were down 75. 5 from 209. And 2019. And, look, every friday it got a little bit better until this past friday, the day before the fourth of july, down 57 . And that could go either way, right, ashley . More people maybe had plans, they werent going out to eat or they decided not to do anything at all. Look, im all about dining out. However, in 90degree heat, it could be disastrous. You need i know the businesses and the restaurants have a lot of expenses, but fans are very helpful. Ashley yes, yes. Someone can personally fan me, thats even better, but youre absolutely right, lauren. [laughter] its tough when its the heat of summer, no doubt. All right, thank you. Lets take a look at apple, if we can. Susan, apple saying at least we are moving around more since last month. Susan yeah. Less than the previous month when we saw 40 plus when it came to driving and walking. Theyre up around 20 or so in the last week. What is surprising though is public transport surges falling even more. So the declines are accelerating from the previous month, and that probably owes to the pausing or rollback of reopenings across more than 21 states. Also its a long Holiday Weekend, so people really didnt need to take mass transit. And in these covid times we know that Consumer Behavior has changed as well, but commuters are still hesitant to jump on public transit, sitting elbow to elbow with strangers in close quarters like subways or buses. Im all for Outdoor Dining. In fact, i live in the west village, and it was busy all weekend long. Ashley a that is encouraging to hear. All right, susan, thank you. Check the cruise lines. Two companies, by the way, now beefing up their health and safety standards. You would have thought theyd have done this already, lauren. Lauren well, were talking about Royal Caribbean as well as norwegian cruise lines. They have hired dr. Scott gottlieb, the former fda commissioner, as well as the former hhs secretary which is the former utah governor. So basically, what this panel of experts is going to do is figure out how you can create a bubble, if you will, around the cruise line industry. How people can sail again without there being a coronavirus. I dont know how you do that. But the cdc no sail order on the cruise lines is set to expire july 24th. It will likely be extended, but in the meantime, the cruise lines have to come up with safe protocols, and this panel of experts will help to do that. Ashley creating confidence is not going to be easy. All right, lauren, thank you very much. Lauren yeah. Ashley as the Washington Redskins consider a controversial name change, three minority owners reportedly looking to sell their shares now. The teams been using that name since 1933, but is now the right time for change . Well get into that. Also baseball is back. Teams kicking off summer camp ahead of opening day this month. But the virus already complicating things for the oakland a. Well speak to the teams president next. Just over a year ago, i was drowning in credit card debt. Sofi helped me pay off twentythree thousand dollars of credit card debt. They helped me consolidate all of that into one low monthly payment. They make you feel like its an honor for them to help you out. I went from sleepless nights to getting my money right. So thank you. Ashley welcome back. Everybody. Take a look at the markets. Weve been on a nice start to the week. The dow up 377 points, the s p up 15 , the nasdaq 1. 5 , the nasdaq showing up again, another 2. 5 , hitting more alltime highs at 10,459. Big tech leading the way again. How about biotech . Regeneral ron, thats a biotech firm, announcing the start of phase three of their coronavirus treatment trials. Theyve been moving along, certainly on a fast track. That stock up another 13 today, another 2 gain at 635. Defending World Series Champions the washington nationals, are canceling practice. Why . Well, because they till havent received their still havent received their virus test results. They say no results, no practice. And with that, lets bring in dave kaval, president of the oakland athletics. Dave, your team was also delayed for testing this weekend. So the question becomes, is this going to be a problem once the season starts . What if you then get results and you dont want to play a game . Well, obviously, the health and safety of our players and the staff, everyone involved, is critically important. So we definitely have to make sure the testing comes back in a fashion that works for the game. Were planning on trying to have an evening practice tonight out here in california to get the training in and be ready for the season. Ashley you know, were ready for the season to begin. Its already very shortened. Are you confident that this can be done . Its not like the nba who are essentially living in a bubble down in orlando at disney world. You guys will be traveling, youll be going to hotels. Can it be successful . Well, baseballs naturally socially distanced. The players are spread out. I think we have a great plan that weve adopted with a lot of input from Infectious Disease doctors and the cdc. Were going to move forward and hope to have a really successful season. Its 60 games, its going to be quick and exciting, and hopefully we can compete for a world championship. Ashley and at the beginning at least and for the foreseeable future, no fans. But you guys are offering cardboard cutouts, right . Thats right. You can go to oakland athletics. Com, pay 89 and take a picture of yourself and upload yourself. Its a pretty cool way the actually virtually be at the game. Ashley now, if a foul ball hits you, do you get the ball . Yes we authenticate the ball, we send it to yourself. You get a souvenir for attending the game. So its a fun promotion we have for our fans and trying to keep it light and fresh. Ashley i think thats terrific. And what kind of response is have you had . Its been tremendous. We sold out of the first section, over a thousand just in the fist night. [laughter] were adding more capacity. I mean, i think its going to be a tremendous hit this season. Ashley so Training Camp is underway. Hows it going . We have a good team. You know, weve been in the playoffs two years in a row, we won 97 games both years, and were excited about taking the field and, you know, basically starting play, you know, later in july. Ashley well, and with only 60 games, every games like a playoff, right . [laughter] you cant start slow. Youve got to come out and play the game after baseball. Of baseball. We have a great pitching staff, so were excited about where we are. Were just excited to bring baseball back for the country and for our community. Itll be a great thing. Ashley yeah. You are absolutely right. You hit the nail on the held. I think its americas pastime. We are ready to see some action, so the sooner the better. Dave kaval, president of the oakland as. Best of luck for the season, by the way. Thank you. Thank you. Lets go, oakland. Ashley why not . [laughter] all right. Dave kaval, president of the oakland as. Great to have baseball back, all sports. Talking all sports, lets get to football. Fedex and nike are pressuring the Washington Redskins now to change their name. Lets bring in Hillary Vaughn whos live at fedex field. Hillary, this isnt the first time that the redskins have gone through this, is it . Reporter no. Ashley, youre right. Its not the first time theyve faced global pressure to change their name to something else. In fact, a few years ago the owner, dan snyder, said we will never change the name, its that simple, never. But today it seems that snyder has had a change of heart, a because now hes opening the review process of their name and is open to looking at alternatives. Right now the redskin franchise is valued at 34 billion. The 3. 4 billion, the cost of rebranding, Training Facilities and the stadium could cost several million. Of course, theres always the risk of all yen nateing some loyal fans that brought in 78 million in ticket sale last year. But the costs could be even more if they dont do anything about it, because some of the teams corporate sponsors could be backing out after 87 investment firms and shareholders worth a collective 620 billion petitioned Companies Like pepsico, bank of america, nike and fedex to cut ties with the team unless they get rid of the red eskin name. Nike removed all redskin gear from their online store on thursday, and fedex formally requested it it has the name rights at their stadium forbeally suggested the requested the team change their name. If the Washington Post reports that three minority owners of the Washington Redskins are looking to sell their stakes in the nfl franchise, robert rothman, dwight jarr and fred smith of fedex hired a firm to look into potential buyers. One of the names thats getting some pickup with players is the washington redtails. Ashley . Ashley hmm. Well, well follow it closely. Great stuff, Hillary Vaughn. Thank you very much. Now lets check facebook, they own instagram. Kylie jenner is no longer, but the way, the highest paid celebrity for sponsored posts. Stuart varney maybe . Susan, who is number one . The rock. He gets a Million Dollars for every commercial post the plug a service or a product, and you mentioned kylely jenner who kylie jenner who has 118 million followers. But football star Cristiano Ronaldo has 228 million followers. Not like he needs the money or anything like that. Arianna grande, selena gomez, a lot of change for just one single post. And this is based on a survey by social Media Consultant huffer hq, and they publish these results, talk to brands and Marketing Companies and using publiclyavailable pricing information to guess how much each account would charge per post. So we know that dwayne the rock johnson, our good friend, he was crowned as the high paid actor last year as well making 90 million. You know, the man, its his world, isnt it . We just kind of live in it. Ashley we do. Hes the rock and thats all you need to know. Susan, very much. Hes the rock. Mortgage rates hitting a record low, we know that, but demand is down for a second straight week. Former hgtv host mike aubrey will join us next on what that means for the housing industry. More varney after this. And because we dont know exactly when this crisis is going to be over and we dont know exactly when the stock market will reach its bottom, weve got to be prepared for this to last a long time. If you assume that youre out of work for nine months but you end up only being out of work for. I appreciate what makes each person unique. Thats why i like liberty mutual. They get that no two people are alike and customize your Car Insurance so you only pay for what you need. Almost done. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Ashley all right. Take a look at the 30year fixed mortgage rate. Thats not a mistake, down to a record low of 3. 07 . But mortgage demand is down for a second straight week. What do we read into that . Lets bring in mike aubrey, Vice President of compass real estate. Mike, you say there is a ill very lining in Silver Lining in all of this. I mean, i think there is, ashley. Listen, if youre looking at a mortgage stock right now, like you said, theyre at historic lows. This is the second week that we saw week over week, but we are still way up yearoveryear. I think what were seeing is an amazing recovery in real estate right now, and i think weve got tailwinds to help the economy recover too. Ashley how easy is it to get a mortgage this year with especially for firsttime home buyers . Are the lending requirements, you know, pretty stiff in. You know, i think the shades of doddfrank are still around, and i think as investors begin to lose their appetite for mortgagebacked securities, things got a little bit tougher. But, no, i think that anybody who has reasonable credit is going to be able to get a loan right now, and theyre going to lock it in at rates theyll never see again in their life. Ashley that is true. The biggest problem is the lack of inventory, right . So it has to be a sellers market. Well, ill tell you this, i think covid sort of exacerbated what was already happening which is that people really focused on where theyre living on right now and was it good enough. And i think, you know, through the first wave of covid, real estate was on fire, and i think it continues to be on fire. So, yeah, i think its a sellers market right now. Ashley do you think theres a movement out of the big cities . I think that there is some level of deurbanization, but lets not hang it all on this virus. I think the reality is that the largest buying group that weve seen is millennials, and millennial household formation has millennials seeking the buschs right now. E burbs right now. I think covid has put a shot in the arm to that. Ashley so if i put my house on the market today, could i expect a ton of offers and perhaps above the asking price . Well, you know what they say, ashley, real estate is local. It depends on if local is near me. If you have me selling it, youre going to get lots of money, i know that. Ashley thats right. [laughter] great stuff. Mike aubrey, youre a professional clearly on television. We appreciate all your insight is. Thanks so much. My pleasure if, ash. Ashley all right. More very after this. Ashley guess whoo . This thursday fox businesss neil cavuto will be hosting our next america together virtual town hall with special guest Barbara Corcoran, quicken loan ceo, james varner and hovnanian ceo, ara hovnanian. Do not miss that. I will leave it right here with markets solidly higher. The man himself, neil cavuto will take it from here. Neil. It is all yours. Neil ashley, thank you very much were looking forward to hear from you for our special, invested in you, Real Estate Opportunities that exist or dont exist, that coming up on friday with Barbara Corcoran with a special guest. Hope you had a wonderful 4th of july weekend. On corner of wall and broad theyre having a wonderful postjuly 4th weekend. Storks are