Transcripts For FBC Varney Company 20240712

Diego, it will be Online Learning only for the rest of this year. That is shut down. The l. A. Teachers union demanded medicare for all and the defunding of the Police Department as a condition for reopening. What has that got to do with education . Leftist politics rules and the largely minority student body in Southern California will be deprived of a meaningful education. All right. Lets talk about money. Earnings season has begun. Look at delta. Lowest revenue in 30 years, 3 billion forked out for virus expenses, burning through 27 million a day. That shows you how tough it is for airlines these days. The stock down a little premarket. Overall, a tiny bounce back for the overall market. Big tech largely in the red this morning. We do have some decent earnings from some big banks and thats giving the markets a very very modest boost. The dow is looking for a very small gain, maybe up 10 or 12 points. And we have the s p and nasdaq on the downside. Thats premarket. All right. Now look at this. It is not o. J. Simpson making a run on the border a generation ago. It is the new bronco. Yes, the ford bronco is back. Varney company is about to begin. Anticipate the mandated stayathome order to return . We had a safer at home order. As i said even then, not everything was always closed. If we go to red, thats what will come. Today, i only know today. Ask me tomorrow, ask me later this week, but i want everybody to take seriously that we are on the verge of that for sure. Stuart whoa. Thats big news. The mayor of los angeles, Eric Garcetti, on the verge of another full scale lockdown. It is possible. Thats Eric Garcetti in los angeles. Meanwhile, Governor Newsom did shut down indoor operations all across california, hitting restaurants, movie theaters, zoos, bars, you name it, very long list. Now let me bring this to you again. Los angeles and san diego, two of the states biggest districts, School Districts, announcing they will close schools in the fall, keeping kids home for more virtual learning. All right. Thats california. Not good. Lets move on to new york and ashley, whats this about a new york coronavirus fine . Whats that . Ashley well, its interesting because we know that new york was at the very epicenter of this pandemic when it really started to hit the United States, but now new york is on the other end of the scales. We see the resurgence in other areas of the country. Governor andrew cuomo says okay, if you are on new yorks quarantine list, if you visit our state, you must provide contact information, where did you come from, where are you going. If you fail to do this, you could be fined up to 2,000 which is absolutely remarkable and at last check, there were 19 states on the quarantine list. There it is. 2,000 for breaking any covid19 travel rules. That will be enforced, by the way, at airports and the port authority. The 19 states, i dont have time to go through them all, but all of those states that have shown higher numbers of cases in recent weeks are on that list. You know, the question is, where do you get these forms. You can go online, download them and print them and provide them from the 15,000 reported on sunday. Little perspective there. On the show later, Carlos Jimenez, mayor of Miamidade County. Is he about to shut down totally . Lets get to the markets. Futures are, well, not doing very much after a late day selloff yesterday, up 4 for the dow, down for the s p 500. Look at that nasdaq, down 100 points. Thats a big deal. Evidently big tech is not bouncing back as i thought it had. All right. Look at ubs. Dont look at it. Just listen to them. They say that more than 80 of investors fear the market will plummet again before the pandemic is over. Market watcher mark tepper is with us. Are you worried about another big drop because the virus comeback . Im not worried about it but i think its likely that its going to happen. I think its fitting that investors are a bit concerned right now. We have come a long way in a very short period of time and typically, after you have a huge rally off a major low, theres about a 10 correction. If we have been butting up against 3200 in the s p, that means coming down to that 2800 to 2900 range would not be out of the norm. Actually, if you go back almost 100 years, go back to 1929, joseph kennedy, who made a boatload of money in stocks the prior decade, sold all of his holdings when the shoe shine boy started to give him stock advice. Maybe thats the uber driver today. Maybe thats this ridiculous rumor thats running rampant on main street right now amongst all these robin hood traders that stocks only go up. But you and i both know, stu, thats not true at all. They can certainly come back down. I think what this really argues for is maintaining proper asset allocation. Dont have all your eggs in one basket. This is what we are telling our clients. Reduce your concentrated position. If you had 50 of your money in tesla a year ago, you felt really good over the last year. Do you still want all that concentration risk right now . Maybe not. Then start looking at Asset Classes outside of u. S. Stocks. Stuart for example warehouses, gold. Stuart mark, i know you like gold. Im limited time here. Tell me why i should buy gold. And how you should buy gold. Im not a gold bug by any means. Im not going to tell you to build a bunker and convert all your cash to gold. But it does make sense. Its kind of a slice of the pie, somewhere in that 1 to 10 range for a lot of our clients, we are in the 3 to 5 range and it works during periods of inflation and we just created a lot of new money. It works during periods of deflation and if consumer demand drops off, we could see that happen and it works as a calamity hedge. Theres a lot of things out there that could potentially sidetrack what we have going on right now. So just have it as a small slice of your portfolio. Stuart calamity hedge in the year 2020. Theres a few calamities around to hedge against. I think so. Stuart mark, thanks very much. Stay there, please. I have a little more for you later. I want to bring in susan to talk about big tech. Now, susan, look, its had a fantastic week. I know its down today. I can see on the board, big tech is down, but this week it has absolutely soared. What more do you have . Susan well, they also sold off on monday as well. Investors may have been profit taking yesterday, thinking that maybe big tech has surged and it had been a bit overdone but you know, you have heard the comparisons you heard from mark tepper just there to the dotcom bubble in 2001 but if you look at how much the specific metrics of the dotcom crash, things are much more solid in 2020, less irrational exuberance as greenspan famously said. Back during the dotcom era, first day ipo returns were off the chart. This year we have only had a tenth and also the fact the dotcom frenzy days, this year, only half the rate of 19 years ago. Another great sign for this year things might not be overdone, dividend paying stocks worth more than nondividend paying stocks and that means theres more rational pricing in the market. The companies that pay money back to shareholders are priced as more stable as they should be. Finally, theres more bearishness and disbelief than back in 2001, closed end funds trading at cheaper levels than the actual value of the assets in them which means investors are more fearful than greedy. Theres more rational exuberance this time around. Thats what im arguing. There might be more upside in 2020. Stuart well, we will wait and only time will tell as we all know. Lets bring back mark tepper. Im looking at the board now. All the big techs are way way down. Would you buy any of them today at these prices . Absolutely. I still think tech is the number one sector to be positioned in right now. We are overweight tech. We will remain underweight tech because thats where all the secular growth that i think we are going to experience over the course of the next decade is really going to come from. Now, we are in a situation right now where the feds Balance Sheet has gone from 4 trillion to 7 trillion this year alone. And growing by 25 per year so we are in a period where the dollar has been pretty strong for the last several years. Its starting to weaken. I think we might be right on the cusp of a dollar bear market that could persist over the course of the next few years and typically when we are in a period of a weakening dollar, tech is the best performing sector. So you want to look at tech, you want to look at commodities, you want to look at Growth Stocks over value and as susan mentioned, dividend aristocrats, dividend paying stocks which had been taking it on the chin over the course of the last 12 plus months, those start working again. Stuart we will take a close look. Thanks very much for joining us this morning. We appreciate it. Want to get back to delta. They reported their numbers earlier this morning. Really its a tale of how badly the airlines are doing because of the virus. Lauren, give me the numbers, please. Lauren worst quarter in aviation history. Worst time in aviation history. Thats why delta lost 5. 7 billion. Revenue, 1. 47 billion, down 88 from last year as passenger traffic was down about the same. Delta now having its august schedule as the ceo says, the recovery has stalled, the outlook is grim, the stock is down about 4 now. Look, delta used to fly many business travelers but the ceo says hes not going to know if they will ever come back until after labor day. So its an ugly situation. 40,000 workers did accept voluntary layoffs and thats helping delta to cut its cash burn to still 27 million a day and it does expect it to stay that much for the rest of the year, stuart. Stuart yeah. Very tough time. What are the other airlines saying . Got anything on that . Lauren now, southwest, they are big in Domestic Travel so you would think they would do better but they are also struggling. They say they need to triple the number of people they fly by the end of the year or they will have to lay off workers involuntarily for the first time ever. That stock down about 2 this morning. Then you have maefamerican, the largest airline, warning its pilots about potential furloughs hoping that voluntary job cuts can come first so that wont have to happen. But look, the government aid expires september 30th. Because of that package, you cannot cut a worker until october 1st so we are waiting for what happens october 1. Stuart we certainly are. Lauren, thanks very much indeed. Overall this morning, we are going to be down but not its not a wholesale selloff. The dow is off about 25 points. That will be the futures down about 25, 26. The big drop is on the nasdaq with big tech, down big today. The battle for teslas next factory is heating up. Free pizza, a 75foot statue of elon musk. Do we have your attention . We will explain what all this means coming up. Amazon literally rolling out the future of Grocery Shopping with these brand new smart shopping carts. Its a way to check out without a cashier. We will tell you how it works. Dr. Fauci says the virus cases are surging because we didnt totally shut down. What does dr. Marc siegel think about that . I will ask him. Hes next. 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. Call today to request yours. So what makes an aarp Medicare Supplement plan unique . Well, these are the only Medicare Supplement plans endorsed by aarp and thats because they meet aarps high standards of quality and service. Youre also getting the great features that any Medicare Supplement plan provides. For example, with any Medicare Supplement plan you may choose any doctor or hospital that accepts medicare patients. You can even visit a specialist. With this type of plan, there are no networks or referrals needed. Also, a Medicare Supplement plan goes with you when you travel anywhere in the u. S. A free decision guide will provide a breakdown of aarp Medicare Supplement plans, and help you determine the plan that works best for your needs and budget. Call today to request yours. Lets recap. There are 3 key things you should keep in mind. One if youre turning 65, you may be eligible for medicare but it only covers about 80 of your Medicare Part b costs. A Medicare Supplement plan may help pay for some of the rest. Two this type of plan allows you to keep your doctor as long as he or she accepts medicare patients. And three these are the only Medicare Supplement plans endorsed by aarp. Learn more about why you should choose an aarp Medicare Supplement plan. Call today for a free guide. Iredefined the wordng thschool this year. 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. Stuart the virus outbreak. The president s Top Health Officials have put out a list of Pharma Companies that put a vaccine into production by the end of the summer. On that list, moderna and Johnson Johnson among others. Marc siegel, dr. Siegel, is with us now. All right, doctor, what does this mean . Will we actually see a vaccine by late summer, late september, that actually works and has been tested . In your opinion, will we see it . Yes, stuart, i think the science is really there. You mentioned moderna. They are showing a robust immune response. We are seeing that with the Biontech Pfizer vaccine. Both of those are brand new genetic technology. Johnson johnson is using a vector, meaning a different virus, to carry the protein to trigger the immune response, but the story today thats really important is that basically the rubber is meeting the road, meaning manufacturing is already gearing up before we know which vaccine its going to be. 300 million doses are anticipated by the beginning of next year. They are starting to look for manufacturing sites, where to make the vaccine. They are putting together the Raw Materials for the vaccine. All of the basic stuff that usually gets delayed is now being put into place with billions of dollars. In the end, when they figure out which candidate emerges, they are already going to be ready to gear up and produce 100 million doses out of the chute. Amazing. Never been done. Stuart now deal with this one, doctor. Dr. Fauci says we are seeing this surge in new cases because we didnt lock down completely. What do you say about that . I have a different view and i talked to dr. Fauci about this last week, stuart. I think it has to do with what the phases of reopening were. Why did we reopen bars . Why indoor restaurants . Why movie theaters and gyms and hair salons in some places . Its what we reopened that allowed younger people to congregate together and spread covid19 in hot spots. Its not a matter of throwing a rope around montana or south dakota and closing down the whole country, destroying the economy and everybodys mental and physical health. Its a matter of having the right targets and shooting the right weapons at them. Yes, we needed certain surgical laser shutdowns that were relieved too soon. That i believe. But not across the board. Stuart we hear you, doctor and not pools, either. Stuart we understand. Thank you for being with us. Good stuff today. Thank you. Lets move on to amazon rolling out those shopping carts that allow you to skip long checkout lines. Tell me more, susan. Susan smart shopping carts or dash carts as amazon calls them will be imbedded with cameras, sensors, and a smart display that automatically tracks what shoppers put in them. Its fairly similar to the sensor pack amazon go cashierless stores. You choose your items, put them in the cart and leave. There are cameras, weigh scales and Computer Vision on the carts to help identify the pricing of the goods you put in and this will launch initially in the woodland hills, l. A. , california store. Shoppers have to have an amazon account and smartphone to use them but once you get in the store, then you scan a qr code from the amazon app and sign into the cart with it, and you can also load your Shopping List right off the alexa. How cool is that. Amazon is trying to make everything convenient and really push the edges of innovation. I guess thats why a lot of analysts say amazon is going to be the First Company to get to 2 trillion. Stuart im smiling because i just cant imagine myself using one of these smart shopping carts. Lets get serious. Check out big tech before the opening bell. Im afraid to say this is the direct opposite of what we saw yesterday at this time. Big tech today selling off. Yesterday, they were buying and going up. Different story today. Well be back. Hey, can i. Hold on one second. Sure. Okay. Okay safe drivers save 40 guys guys check it out. 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 hes here. Hes right here. Hi hi. Hey thats totally him. Its him thats totally the guy. Safe drivers do save 40 . Click or call for a quote today. It triggers a Tax Liability for you. And the higher the turnover the more you have to pay in taxes every year. Thats why you want to own low turnover funds. The less you pay in fund fees, the less you pay. Stuart we are moments away from the opening bell. We are looking at the futures right now which are pointing south, especially the nasdaq. Looks like its going to be down over 1 . All right. Thats the futures as they stand now with three minutes to go before the opening bell. What else have we got there, please . Big tech coming up. I believe thats, again, thats premarket. Can you move that prompter, please . Big tech, all of it on the downside, every single one of them. Lets bring in mike murphy. All right, mike, we dont have mike murphy. Little confusion here, ladies and gentlemen. We do apologize for that. On your screens, big tech. I keep saying it. The exact opposite of what we saw yesterday. All of it down. Laurens got what . Tell me. Lauren well, big tech is down and if the nasdaq closes with another loss today, stuart, it would be two in a row. We have not seen that because the nasdaq and these tech stocks have been so strong. We havent seen that in two months. So certainly keep an eye on all these stocks. They are down, not by much, but down again today. Stuart they most certainly are. Bigtime. Look at microsoft down to 204. It was 215 yesterday. We do now have mike murphy, hes with us. First of all, mike, what are you doing with uber . You still like it after all these years . Its done nothing for you. Why . I dont know that its been years, stuart. I dont like uber any longer. I love uber. I have loved it all the way. Ubers business got hurt very badly by the coronavirus. But if you look at what theyve done, they havent sat around. They purchased postmates which was also a Portfolio Company of our fund. When coronavirus is behind us, uber is going to be a lean, mean company thats going to have 106 million active monthly users. I dont just like uber down here in the low 30s. I love uber here. I think its a 500 billion company in the next five years. Stuart we are listening to you. How about snapchat or snap, i think its called . What are they doing . Why do you like them . So you hear all this talk about tik tok and how the government may get rid of tik tok. You have seen whats going on in the uk this morning regarding huawei. If tik tok is ever removed from teenagers phones, the next step in line, i can speak firsthand, is snapchat. I think snapchat is waiting in the wings. They could be a huge winner if something happens between the u. S. Government and tik tok. Stuart okay. We shall see. 23 a share, premarket on snap. Its down 1. 5 . All right. We have, what, 40 seconds left and we will be opening this market. Right before we open, we are looking at a downside move pretty much across the board. This downside move has been gaining momentum as we have headed towards the opening bell. Right now we are looking at a serious drop for the nasdaq, down 115 points, down 40 on the dow industrials. Now, yesterday at this time we were looking at a whopping great big rally and that rally held. We were up over 500 points on the dow until midafternoon. Thats when california announced its reclosing many businesses in that state. That took the market down. All right. They stopped ringing the bell. We have started to trade. Right from the getgo we are on the downside. Its not a huge loss but we are down about 50 points for the dow industrials. Thats just a fraction of 1 , down about, what,. 19 ,. 18 . Thats not a major loss. The s p 500, where is that . Its down a fractional loss, down about. 5 . Now look at the nasdaq. I think thats where the big loss is coming. Yes, it is. Down 73, 74 points, about. 7 . We will get back to big tech in a moment. But that is down across the board. Im going to show you moderna and Johnson Johnson. They are on the vaccine production short list put out by trump health officials. They reportedly are going to begin production of a vaccine by the end of the summer. Those two stocks are up. Something of a bright spot this morning. The big banks, that would be citi, jpmorgan, wells fargo, they reported early this morning. Strong trading revenue led to some big gains at citi and jpmorgan. Citi is down, morgan is up a buck. Wells fargo, always under pressure, a 2 billion loss, First Financial first since the financial crisis. They cut their dividend and wells fargo is down at 23 a share. All the way down. Of course, delta airlines, they reported a big loss there, nearly 6 billion in the quarter, slashing flights from their late summer schedule by about half, and delta is down a buck. Thats nearly 4 , actually. Tesla, got to check in on tesla. Its been an extraordinary wild ride over the past week. This morning, its back up 21 bucks to the 1500 level. Susan, whats this about a big Investment Bank saying its going to break, what, 2,000 . Susan yeah. Morgan stanley say its going to break 2,000 on the bull side but what a ride yesterday for tesla, the biggest reversal for the stock in almost a decade. It was up 13 at one point, down 4 at the end and this hasnt dampened enthusiasm as you see the 3 rally today, coming from the analyst community. Morgan stanley upping the price target to 730. It could jump 48 from here or fall by the same amount. Thats pretty much what Morgan Stanley is saying. But looking at the 32 tesla analysts, the price target is 778, about half the level tesla is currently trading at. We have four positives heading into earnings season and also driving the stocks higher. Production numbers way ahead of estimates, china picking up, tesla set to record a fourth straight quarter of profits and battery day announced on september 22nd when we will hopefully get that million mile battery. Are you finished laughing yet . Stuart no. Im laughing all the way through. It might be up 48 or it might be down 48 . Where on earth does that leave me . Where does that leave me . Susan that leaves the analysts in a good hedge position. Could fall 48, could profit 48. Stuart what a way to make a living. Mike murphy, come back in again, please. Yes, sir. Stuart they report who reports next week . What are we talking about here . Are we talking about tesla here . What do you think of tesla, mike murphy . Ive got a tesla. I love the car. I love the product. I love what elon musk is doing at the company. Tesla is a trading stock for professionals. I think for people at home, for your audience, to try to we talk a lot about the fear of missing out, fomo. Dont chase tesla if you have never owned it at this before, because at this price, theres a lot of down side in the stock. But i love the company and what elon musk is doing. Stuart okay. So would you buy it or not, mike murphy . I do not own tesla. Stuart i have never found anybody yet who can explain it properly. Lets talk to the battle between tulsa, oklahoma and austin, texas, battling it out for teslas next big plant. Susan, what have we got . Susan its down to the final two, austin, texas and tulsa, oklahoma. Tesla and musk will choose between those two as its next home for its car factory so thats 1. 1 billion, up to 20,000 jobs being created. Fremont, california, its only car production factory in the u. S. Contributing 5 billion to the local california economy according to musk. So the decision is expected in the next few weeks. A bidding war on tax breaks and other concessions under way. Austin offering to set up a vote for a portion of a rebate on the tenyear tax package this week and thats just starting. Tulsa looking at tax incentives as well but also appealing to the fun side, including a 75 foot statue of elon musk, also offering free pizza to all tesla employees, tax break of course and most important, nevada offered 1. 4 billion for the giga factory. Thats pretty much the realm both cities need to offer in order to get that next car production factory. Stuart in a huge down side move for big tech, tesla stands out with a gain of 62, 4 up, 1500 a share on tesla this morning. Go figure. All right. Look at disney, please. Goldman sachs sees a big upside, lauren. Tell me more. Lauren very bullish, initiating the stock at a buy with a 137 target, about 20 more than where it is now. The reason is disney plus. Goldman expects disney to be profitable by next year. Thats two years ahead of schedule. And they say they are going to have 150 million subscribers by 2025. Thats three times essentially what disney has now. And they think disney will, yes, see big demands for the theme parks once covid subsides. They are bullish long term for disney. Stuart long term. Once covid subsides. Okay. Lets wait and see about that. Lauren exactly. Stuart all right. Check that big board. We are six minutes into the session and we are down 50 points. Thats about. 2 . The tenyear treasury yield this morning is 0. 60 . All the way down. That implies moneys moving into treasuries and out of stocks. I think you can see that happening now. The price of gold right around 1800 an ounce, despite a lot of people saying you got to buy into that market, 1802 to be precise. Bitcoin. We have not checked that for awhile. 9,200 per coin. Its down a little today. As for the price of oil, that today is at 39 a barrel. All right. We are now seven minutes into the trading session and the big board shows a loss of 54 points. Got it. President trump says if voters want chaos in the country, they should vote for joe biden. Listen to this. Things are happening that nobodys ever seen happening happen in cities that are liberally run. I call them radical lib. Thats what you want for a country, you probably have to vote for Sleepy Joe Biden because he doesnt know whats happening. Stuart lot of reference there to violence in the big cities. We are going to show you the devastating numbers on crime and how its rising specifically here in new york city. A disaster. First, the redskins, now the Texas Rangers Baseball Team facing pressure to change names. Is this just the start of a growing trend in the sports world . Looks like it. We are on it. And its a blast from the past. Remember the famous o. J. Simpson bronco ride, chase, really . Now the ford vehicle getting a reboot after 24 years. 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Call now and get your free infokit stuart where is spotify . Its at 254 a share. Bank of america has raised its price target to 357. Okay. Thats spotify for you. Got that. Check on ford motor company. That stock has done very very little for a long time but today, they are unveiling their new reimagined line of the classic bronco. All right. Ash, show it to us, please. Ashley yeah. Its 24 years but the bronco is back. There are three models, a two and four door model, then you have the bronco sport. The bronco sport kind of similar to the jeep compass, will be out by the end of the year. The main event, the main broncos will be out next year, probably by the spring. The base model on the bronco coming in right around 30,000 but if you want one thats completely tricked out, top of the end, that will be around 60,000 and maybe up. But you know what, it kind of is reminiscent of the old boxy original broncos, very retro looking from the 1960s. Ford has talked about this for nearly ten years, the idea of course is to try and take some market share away from Jeep Wrangler which has had a very strong run. I kind of think they are cool. When i first came to america, i had a family friend out in california who used to drive around in a big bronco k5 and i absolutely loved it. I have never seen anything like it coming out of the uk with their tiny cars and tiny roads. I thought i was king of the hill. Stuart my first car in america was an oldsmobile delta 88. We used to call it a yank tank and i loved it. I absolutely loved it. Before you go, one amazing thing to me is fords stock is at 6 a share. Ford sells millions of cars a year. We have tesla which sells maybe thousands of cars a year worth god knows how many times more than ford motor company. Just amazing stuff. Ashley strange days. Stuart yes. Im glad were in america. All right. Check those markets one more time. Everything is now positive. How did that happen . Even the nasdaq has gone from a minus 100 to a plus 31. Market watcher brian belski is with us. Im not going to ask you to explain this turnaround all of a sudden, because i cant and i dont know whether you can but let me start with this. To me, the biggest threat to the market is this trend towards reclosing everything. That i think is the threat to the market. What say you . I think its a big part of it. I think so many people are wrestling with how much of the economy will be open. We have seen some different trends, obviously, with the curve, especially with a lot of young people hanging out in bars and things like that, mortality rates from a longer term perspective are still down relative, especially so in the beginning of the coronavirus, covid19 pandemic, so i think thats the biggest part but you really have to go back, stuart, and look at those companies in the retail and overall consumer space that were struggling before covid and obviously during covid and coming out of covid, they will continue to suffer. I would say as an investor, i would continue to focus on those areas that are the strongest heading into covid and that were able to withstand what happened during coronavirus. Stuart would you buy any of the big tech stocks . They took a dip late yesterday and early this morning. They bounced back a little bit. Would you buy any of them . Well, we still own a lot of the big tech names but theres also names like cisco that are more of a value name than i think a lot of people have kind of missed. Remember webex is owned by cisco. If you take a look at intel with respect to semiconductors, they are throwing up a very strong dividend. Look at salesforce which is really kind of the kleenex quote unquote of information database with respect to the business world. In terms of your apple and microsoft positions, though, if you are in a longer term portfolio, yes, you should continue to own those names. Stuart at my age, you dont have a very longterm horizon. Maybe i will think to unload some of the big tech i have done well with. Well see. Brian, bullish belski, thanks as always for joining us. See you again real soon. Thanks. Show me amazon, please. Whats that stock doing this morning . I believe its up or just about. They are restricting warehouse space. Im not sure what that means. Im not sure why theyre doing it. Tell me. Susan just like during the height of the pandemic, amazon has to make room for the necessities like the clorox wipes. Good luck finding them online. Also to make sure everyone has equal space among the third party sellers, especially with this huge surge in online sales. Thats why amazons stock is still above 3,000 apiece. Amazon sending out the email on monday. They are also trying to make space as we head into the allimportant Holiday Shopping period and dont forget, back in march and may, during the height of the pandemic, amazon weathered a series of supply chain constraints, also delivery delays at its warehouses as a result of the surge in shopping, and the company had to prioritize its essential goods like toilet paper, like Hand Sanitizer and hiring 100,000 workers and paying them more in overtime pay and hourly wages as a result. But take a look at the stock. I think it reflects the huge demand. Stuart still at 3,000 a share. All right. Got that. Goya buycott still trending across the country. Customers loading up on goya products after the ceo of the company was slammed for praising the president. The man behind the buycott movement has raised 150,000 in a couple days. That man will join us in our next hour. Look at this number. A 300 increase in online car sales during the pandemic. What is driving that . We are on it. Its easy to get lost in the economic uncertainty. The volatility. The ambiguity. This moment calls for more. And Northern Trust delivers more. With specialized expertise. Proven strategies rooted in data and analytics. And insights borne from over 130 years of successfully navigating economic turbulence. Giving you new clarity. Inspiring confidence. And helping you uncover new paths forward. Northern trust stuart there is a Company Called prodigy which has created a platform that lets existing car dealers sell their inventory online and business is booming. They have there has been a 300 increase in online sales since the pandemic began. The ceo of the company pronunciation, please . Mikia. Stuart im so sorry. You can call me anything you like after that. I do apologize, sir. Okay. You are doing very well during the pandemic and i can understand people buying cars online when you dont particularly want to go to the dealership but do you think the trend continues when the pandemic lies down and we get back to business as usual . I think it does. The reason for that is car buying is not something you do every three to six months, so its usually a three to five year purchase. The next time you go to buy a car, if it was so easy and you were able to do everything online, youre not going to want to go back to the traditional way of buying a car. So the Consumer Expectation whether or not it was meant to be set, has been set during covid19 with literally billions of dollars being cars being sold online, customers are not going to want to go back to the old behavior. Doesnt mean everybody will buy cars online but it will definitely be more of a trend. Stuart within your operation, i understand you are selling more used cars than new cars. Why is that . You know, i think theres certainly been people that have adjusted their budgets in terms of buying cars and dealers are also heavily incentivized to move these used cars. So i think the combination of stronger discounts and people saying you know what, the economy is certainly good now, but the future feels slightly uncertain so lets buy a little less than our budget originally and they are gravitating towards used cars. Stuart if i buy through you, theres no haggling, the price is set, correct . The price is set. You will kind of work with the dealership to find a car within your Budget Online but even if you start online and go in store, they will see the exact same payments down to the penny. Stuart do i get delivery without actually facetoface contact with anybody . Absolutely. You can get contactless delivery where they wipe the car down, ecigarettes for te esignatures for the paperwork and its yours to take home. Stuart thanks very much for joining us. Prodigy. I think i got it right. Nailed it. Stuart thanks very much, sir. See you soon. All right. Take care. Stuart top movie director oliver stone slamming hollywood. He says you cant make a film these days without a sensitivity counselor. Who better to have than hollywood actor, Isaiah Washington to react to that . Hes got a new show on fox nation and hes on this show today. Still ahead, hud secretary ben carson plus Brian Kilmeade plus Charles Payne and College Football hall of fame coach, lou holtz. We got them all. Keep it here. Devin, did you know geico is now offering an extra 15 percent credit on car and motorcycle policies . Ok . Thats 15 percent on top of what geico could already save you. So what are you waiting for . Dj khaled to be your motivational coach . Yo devin remember to brush in a circle motion. Thank you. Dj. Khaled. Tiny circles, devin. Do another one. Another one. Is this good . Put in that work, devin. Dont give up. Geico. Save an extra 15 when you switch by october 7th. groans hmph. food grunting menacingly when the food you love doesnt love you back, stay smooth and fight heartburn fast with tums smoothies. Tum tumtum tum tums. 4. Stuart it is almost 10 00 eastern time almost. Where we stand almost after an half hour of trading. Dow up a little. S p and nasdaq down a little. Nasdaq correct that. Man, they were way down at the start. They went way up. Big tech clearly all over the place today. Were showing you moderna and j j. Word from the administration well have a virus vaccine late summer. These two companies are on the list of companies that will create the new vaccine by the end of the summer. Both stocks like it. Both are up. Show you big tech, when i say it is all over the place, i mean it. Apple is now down. Amazon down 88 bucks. Just over 3,000 a share. Alphabet. That is down. Microsoft, all the way back to 203. Yesterday afternoon it was 215. Big tech, i keep saying it, all over the place. Now this. In new york city 17 people were shot on monday. That is just one day. It is part of a surge in violence. The previous weekend, 64 were shot, 10 of them died. That included a young father crossing the street with his 6yearold child. For those of us who live and work here, new york has turned from being one of the safest cities to one of the most threatening. How come . Congresswoman alexandria ocasiocortez says the violence stems from Unemployed People trying to feed their families. She got a lot of criticism for that. She has doubled down. Now she says republicans, you dont understand poverty. The mayor of new york, bill de blasio, he blames guns. To make people feel safer, he is cut the Police Budget by a billion dollars. Rarely has any city been so ruined by its leadership. This city desperately needs to get people back to work. Look outside right now, manhattans sixth avenue. Late tuesday morning, that is where we are. It should be bustling. It is not. Office towers are largely empty. The streets are deserted. Why should people return to work in a city they just dont consider safe . The police get no respect and no support. Arrests are down. Street violence way up. Seattle, chicago, minneapolis, new york is not alone in this dilemma. Most democratrun big cities are in the similar boat. Police attacked. Children getting shot. Fear, you can feel it. The virus presented americas cities with a dire problem. The lockdown, shut down business. The lifeblood of any city. It is all been made worse bit violence brought on by the antipolice movement. There is no end in sight to this. People will vote with their feet. They will leave. The exodus has started. It is not going to so the people who elected aoc and bill de blasio, theyre the ones who will be left behind and they will suffer the most. More varney in a moment. Were scouring all the numbers right now, stu, and i would say to you, the vshaped recovery is still intact according to the latest numbers. I dont like to see the cases. Thats a tough sign. On the other hand we know what to do using the same guidelines i mentioned before. We know how flatten these curves. I do believe they are going to be temporary. Stuart you heard him, white house top economic guy larry kudlow on the show yesterday, optimistic about the vshaped quick rebound. Scott shellady is with us. Mr. Kudlow says vshaped recovery, bouncing back again. You have that look on your face which says youre skeptical about a v. Tell me. Well you know what . I love larry kudlow but i think he is being more of a cheerleader here than a realist. You know what . I have an agrarian background. If it is raining out you dont take the tractor out. Im selfappointed leader of common senseocats. When governors limit businesses 25 to 50 of revenues, because of spacing and like, how can anyone thinks well have a vshaped recovery when we can only capture 25 of our revenues. I think well struggle. Well come through this on the other side but other thing, the american psyche has been battered and bruised. We cant keep coming toe these people, now you got to wear a mask without giving them some metrics when we can take the mask off. When can we send the kids to school . What do the numbers have to look like . What are the numbers look like so i can use cash again . Dont ground me for life and dont tell me when im coming out. Im surprised the stock market has done so well given everything ive just said. Stuart can i paraphrase it like this . The biggest threat to the economy, the biggest threat to the v recovery and the market is, the reclosing in major states all across the country. Thats your point. Is it . 100 my point. We are our own worst enemies. These lockdowns dont work. Stuart i want you to listen to what President Trump said about what happens to the economy if joe biden wins in november. Roll tape. If biden got in this economy would be destroyed. You know, he was in office for 48 years and what he did was not great. Almost every decision was the wrong decision. And now he is going to come and try to help us . We didnt need any help. We built the greatest economy in history. Stuart okay. Joe biden wants to tax business, tax wealthy individuals you got that look own your face again. I take it you believe with the president that joe biden tanks the economy, correct . 100 . Stuart, i mean, just again, im selfappointed leader of the common sense ocats. You cant see the situation with the economy and way to solve it is tax people more. That doesnt make sense. Like defund the police. That will make us safer. It doesnt make sense. Why doesnt somebody say that . Here this guy who has been in con guess for 50 years, will come now save us . It just doesnt make sense. Stuart sarcasm is a low form of wit even when you got a smile on your face. You made me feel better. You really do. Scott, youre all right. See you soon. I want to take a look at the price of gold right now because weve had a couple people on the show recently and today, saying gold is the place to put some of your money. Dennis gartman is one of those people, and he is on the show as of right now. All right, dennis, youre bullish on gold. Telling people to put some money into it. Tell me why . Ive been bullish on gold. Yesterday, i trade only from my own account, stuart. So i tell everybody what im doing when im on the show. I sold every ounce of gold i had yesterday morning, mid morn, when the stock market began to give up gains there is direct correlation with stocks prices and gold. Which is atypical. What weve had the monetary authorities having been, continuing to be monetarily expansionary. That helped share prices which shocked me to somewhat blunt and price of gold. I moved out of the gold yesterday. I will not be on the short side of gold. I will be on the sidelines for a week or two or three. Having been bullish on gold for two or three years i sold my gold yesterday which is a big change. Stuart i dont understand why. Explain why . The manner in which stock prices began to decline yesterday. You will get margin calls happening in the nasdaq today. That will happen in the course of next week or two or three. Secondly the number of people who have been youllish of gold, i couldnt convince anybody two years ago to buy gold. 88 of the advisors around the country with the bullish consensus numbers reached 90 , gotten 88 . Which is too many people in the boat at one time. I decided, call it traders intuition. Call it ive been around for a while, ive seen this action before. I went to the sidelines. It is unusual. Lets understand, everybody took me to task not being bullish of stocks. Gold was up almost 17 this year until yesterday. The s p was actual down 1 . If you had goal instead of s p since march you have done almost astonishingly well. Ive gone to the sidelines. Unusual for me but that is what ive done. Stuart lets go to the stock market. 81 of investors, according to a big investment firm, theyre wore remembered that the market is going to plummet again before the pandemic ends. Theyre anticipating a big sell off. Are you . I think that stocks have gotten to be almost comically over indulgent on the long side. What weve had is a monetary authorities, having been and continuing it to be, i hope they continue to be expansionary into the future. That is what has been driving stock prices higher. It is not the economy. The guest you had on before, was absolutely spot on how can you expect to get a v return, v rebound in the recovery, larry kudlow is old friend of mine, when youre shutting down 30 of the restaurants in the country, forting Rolling Bearing manufacturers to curtail their production. Steel production is down 25, 30 t will be very difficult to get a v return in the economy. Therefore i think share prices are preposterously overexpensive on the upside. Do i sell them short . Not with your money, or my money but will i buy stocks up here. One thing i find interesting. I talked to the young man that takes care of my trades for me. I was thinking about buying wells fargo. Well see about that couple days. It is under pressure around badly beaten down. 23 a share. With an 8 dividend return on it. I did i dividend may be in some danger but im considering buying wells fargo. That is only thing i want to do right now. Stuart you got my attention, dennis. Good luck to you. How about this, Abigail Disney, and pa group of uber wealthy people, calling on the superrich to pay for the recovery for the pandemic. Susan, i guess theyre asking, tax me, tax me some more, is that what theyre saying . Susan yep. 83 much the worlds richest, want governments to hike taxes on superrich. That includes Abigail Disney and ben jerrys founder, jerry greenfield, asking for immediate, substantial, permanent higher taxes on people like us. The letter released just ahead of this weekend of meeting of finance ministers and central bankers. According to analysis, there are more than 500,000 ultrawealthy individuals, worth more than 30 million. That is more than the population of iceland and other countries. Biden said he will roll back some trump tax cuts if he wins the white house in november. I guess the same question can apply here, when Warren Buffett says he pays more taxes than his secretary does, buffett, usually gets asked if you feel so strongly about it, write the check yourself, instead of forcing the government to mandate it. That is some of blow back on 83 ultrawealthy written the letter. It is a guilt trip. Ive got so much. I dont need it. Stop you from making so much. Susan why force it, putting the own news on the government, you pay this extra percentage . Stuart do it yourself. Anybody can write a check, make it out to the United States treasury. You can do it any day you like. They wont. They want us to pay. Thank you, susan. Im sounding off again. Look at amazon, down 115, below 3,000 bucks a share. Theyre Building Worker Health Care Facilities. I dont think that is what pushed the stock down, but explain more about the Worker Health facilities. Lauren no, but it does come at a cost. They partnered with a Company Called cross over health. Its a Pilot Program to set up Health Care Facilities for workers in five americans cities. Detroit, san bernardino. The Health Care System is obviously strained because of covid19 but amazon says are addressing systemic issues of health care across the country. Stuart interesting. Lauren theyre getting into the health care sector. Stuart that is the point, edging into health care. Very significant. Thanks, lauren. Floridas governor, ron desantis was heckled while addressing the rising number of virus cases in his state. Watch this. Then what were, what were finding here. So i think the [inaudible]. You are doing nothing. Stuart okay. You heard that. That was heckling of the governor of florida. Over 12,000 new cases were reported in florida just on monday. Please remember, that is down from the 12,000 reported on sunday. Miami, by the way, is the epicenter of this new hot spot in florida. Im going to ask the mayor of Miamidade County whats being done about it in our next hour. Is he going to consider another full lockdown. Also next hour, former greys anatomy actor, Isaiah Washington, what does he make of oliver stone, the director, slamming hollywood for being overly sensitive and fragile . He is a good guy to ask. I will ask him. Virginia man offered, raises, 100,000 bucks to buy goya products to donate to food pantries. Calls for boycotts to on goya because its ceo praised President Trump. We have that young man next. Remr the names of your grandkids, pets, your soninlaw. Favorite soninlaw. And the eternal question, where did you put your glasses . Sure, you can spend the day looking for things that you misplaced. Or you can take natrol cognium. Cognium improves memory and recall in healthy adults. 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A house divided against itself cannot stand, and this could be the destruction of our nation. We are at that point. Stuart that was the president of goya foods. He was on this program with ashley last week. He sparked controversy and a boycott when he praised President Trump. Well, now there is a counter push, a buycott actually, pushing back against the boycott. One supporter started a gofundme page to buy goya products. Casey harper is the man who is doing it. He is on the screen right now. Casey, get right at it, i think youve only been doing this a couple of days. How much have you raised . We started on saturday afternoon. Were already up, i just refreshed, if you refresh every few minutes you will see a different number, but were over 160,000 now. It has really taken off. Stuart certainly has. In a couple of days that is remarkable amount of money. Are you doing this because of free speech . And i ask the question because, when you boycott somebody or their product for what they have said, essentially i think youre clamping down on free speech. Is that why you organized this buycott . That is a great question. You know, you said, this has sparked controversy. It is amazing that a ceo who also praised president obama, saying they praised President Trump is a source of controversy. I think the ceo is right, were really in a perilous time in our nation, people cant say, wow, the president is doing okay, without fearing theyre losing their job and whole Company Going out of business. This is really not about endorsing one Political Party or the other. It is about america as one, really rising up against this vicious cancel culture which scours the media, looks through all your old tweets, looks for one mistake. Also they get to decide what the mistake is. Then they use that against you to maybe lose your career, cost your job or even, you know, there has been doxxing where peoples addresses have been published. So its a troubling trend. Any journalist, left, right, center should be concerned about free speech. Stuart wellsaid. Casey, a remarkable success story, 160,000 bucks since saturday afternoon, now tuesday morning. Well con. Fully behind you. Thanks nor joining us. Go for it. It is american success. Stuart yes it is, great stuff. See you soon. I will check a couple of dow stocks for you. This is hurting the dow. Were talking apple and microsoft. Big tech is down today. Those are two dow stokes. Theyre not helping the dow, with apple down four bucks. Microsoft back to 203. There are titfortat sanctions coming from china. You know the story. Yesterday china sanctioned u. S. Senators rubio and cruz. Now i think china is going after Lockheed Martin, is that true . Susan Worlds Largest Defense Company by sales, over 620 milliondollar arms deal to taiwan that the Trump Administration authorized. Taiwan is sensitive issue with china which regards taiwan as renegade province that belongs to china. Lockheed martin largest Defense Company by sales. If you look at sanctions, it will not hurt that much. We dont actually know what the sanctions will look like because the Chinese Foreign ministry is not that specific. For a lot of u. S. Defense companies theyre barred from any military sales in china. Lockheed is a bit special because they have sold civilian helicopters in china through the sikorsky unit but the relations between the two biggest economies strain with this move. Just after yesterday the u. S. Saying they refute all of chinas claims in the south china sea. This is a bit concerning when the two largest economies in the world continue to drift further and further apart. Stuart one good thing from larry kudlow yesterday, america and china are pressing forward with phase one of the trade deal. That is the positive in this whole story. Susan baseline. Stuart baseline. You got it. Thanks, susan. Clearly there are some states where recovery is happening faster than others. Ash, ive got a map on the screen. I guess those are the states doing fastest recovery, that right . Ashley according to wallet hub who crunched numbers, looking at unemployment claims. So yes, where is fastest recovery being registered. Well, number one, connecticut, believe it or not. Number two, oregon, new jersey, vermont, arkansas, what a wide range. Wyoming, wisconsin, california on that list at number eight. Maybe that will jump to this other list because of slowest recovery. Number one is georgia. That is not highlighted it is number one on the list. Florida, new hampshire, oklahoma, kentucky, virginia, indiana, north carolina. Maine making the list at number 10. Listen these numbers change all of the time as we know as more states start to reverse some of their opening orders, especially again in california, pushing the pause, in some cases going backwards which of course can have a big impact if youre a worker trying to get some hours. Trying to get some work. That is a big problem. Stuart yeah, going backwards is exactly what we dont want but its happening. Ash, got it. Thank you very much indeed. Ashley sure. Stuart you been to the gym recently . Not asking, ashley, im asking the audience. You probably have because a lot of gyms have been closed throughout the pandemic. That is leaving a dent in commercial real estate. Kristina partsinevelos joins us. If gyms are closing i would presume that commercial rent will come down, that accurate . Reporter well i dont know yet about whether theyre coming down. We havent seen any full data because a lot of the gyms are reopening but you know that gyms are a high contact business, were sweating, breathing heavily under one roof. Those that are lucky are reopening but a fraction of the capacity while others are not so lucky. Stu, im standing in front after 24 hour fitness in midtown in new york city this is one of 100 Locations Closed permanent because they filed for bankruptcy due to the pandemic this is weighing heavily on commercial Real Estate Property across the country. Before the pandemic, a lot of places downsizing, businesses turning to the online world. Commercial real estate owners are turning to Fitness Centers as anchor centers to bring in foot traffic. The issue, gyms are not doing so well. Golds gym filed for bankruptcy. Town Sports International is considering bankruptcy and i spoke to one landlord expert, listen what he has to say about the retail industry. Soft good Users Falling from the marketplace, leaving big anchor spaces, health clubs were filling those at a pretty rapid pace t has been a shining star that helped energize retail centers. Reporter and now the recovery of Fitness Centers is very uncertain, leaving many Real Estate Companies in limbo. Stu, back to you. Stuart some tragic declines there, i see on the screen. Kristina, thank you very much indeed. More than 1 3 of homeowners have not made payments on their loans. 32 . Whats going to happen to them . Any help on the way . Im going to ask housing and urban Development Secretary ben carson. He is on the show next. He is a doctor, in fact a brilliant brain surgeon. So well be asking him about the virus. Do we need a second shutdown . A good question for him. Well try to get an answer after this. 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If we go to red that is what will come. Today, i only know today. Ask me tomorrow. Ask me later this week, but i want everybody to take seriously were on the verge of that for sure. Stuart he is saying that. That is the mayor of los angeles, on the verge of another serious total shutdown in los angeles because virus cases are surging. California reported 8800 new cases yesterday. Florida over 12,000. Texas, 7,000. Come in now please, Housing Urban Development secretary ben carson. Mr. Secretary, we seem to be on the verge after second serious shutdown. Youre a doctor. What do you say about that . Do we need a second shut down . We have to ask ourselves what was the impact of the first shutdown and the answer to that is significant economic disruption. Are we willing to do that again . It is sort of like a battering ram. Youre trying to bang a door down with it. The first hit maybe you just weaken it, but if you keep hitting it that door is going to come down. That is what is going to happen to our economy. That is what will happen to the infrastructure which is quite strong right now. Rather than shutting down, we need to take what we have learned, we learned a lot about the virus and we need to get serious about it. There are other places around the world that have opened up and are not having as serious of a problem as we are. Lets swallow our pride and lets go and look to see what it is that theyre doing, lets emmy eight that, rather than just going emulate that, rather than going down a road of acceleration and destruction. Stuart do you have any comments on the School Districts in los angeles and san diego which abandoned classroom instruction for the rest of this calendar year and are going to all online instruction . Any comment, mr. Secretary . Yeah, we claimed that we want to do things based on evidence. Evidence shows us that the children are not at risk, or very small risk. Most of the teachers are young and vigorous. Theyre not old people who have a lot of comorbidities. The ones who are, take them out of the school. You know, common sense. Whatever happened to common sense in this country . Seems like we dont have it anymore. You know, we can do this, and we can use what we have learned and in very effective way, so that we can control the virus and not let the virus control us. Stuart i mentioned on the program earlier today, that more than a third of all households have missed their july housing payments because of the pandemic and the lockdown. It may be rent. It may be the mortgage. What happens next . A third of the households are not paying up . What happens . Well, first of all, let me just say, if a third are not paying, that means 2 3 are. Given what weve been through, that 2 3 are, that is very good. That doesnt mean we dont need to be concerned about the third but lets look what is happening with the 2 3 that are paying and see if we can spread that around a little more so the 1 3 who are not are not having as much trouble. Having said that hud, and government in general we looked at ways that we can spread forbearance around. We put out just last week, new tool kit gives information to renters and as well as to the owners and phas in terms of what is available to them. Also encouraging them to Start Talking to each other early. Dont wait until the last minute to say i need to evict you. That doesnt make any sense so this can be done t can be a done in an effective way and also people can go to the hud. Gov coronavirus website. There is a lot of information on that. We have given more than 40 million for counselors, housing counselors who can help but they have more difficulty helping you at the last minute. Go to them now. If you think youre having a problem, dont wait until the last minute to deal with it. Stuart got it. The voice of common sense from washington, d. C. , of all places. Doctor, mr. Secretary, thank you very much for joining us, sir. Always appreciate it. Everything went silent. Stuart [laughter]. The secretary there could not hear me as i said, the voice of common sense. He said everything went silent. He was on the show. He is a good man. Thanks very much. Check that market please. What a reversal, now were up 223 points on the dow industrials. Must be one or two dow stocks which are really doing well to account for this 200 point jump. Look at the nasdaq, still down 60 points. A very mixed market. Thats for sure. Yesterday we brought you news on the Housing Market in california. Now we understand that apple, yesterday, we brought you news that apple is getting involved in housing in california. Today weve got news that apple is getting involved in education. Tell me more, susan. Susan theyre trying to help americans to find jobs and employers think outside of a four year degree. A virtual roundtable taking next hour held by ivanka trump of white house, tim cook will be in attendance and ibm ginni rometty. Theyre looking for skills rather than credential and four year degrees. A alternative in learning. These are tough employment times, stuff. Stuart we do indeed. Thanks, susan. Change the subject completely. The royal family, the brits, going to lose a fortune because of the pandemic. They dont get the tourist dollars coming at you. Buckingham palace, home of queen in in london starts selling its own brand of gin. Well tell you about that. There is this, a pub owner england, came up with a shocking way to keep his patrons socially distance. When i say shocking, i mean it. It is an electric fence. That pub owner is on the show next. Instead of trying to decide should i invest in stocks or not . Meaning, are stocks going to rise or not . , lets instead stop looking at the investments, which we cant control, and lets now look at our goals, which we can control. In other words, we only want to take as much risk as is necessary to achieve our goals. We need to protect the money thats there. And that says you should be investing in. Stuart weve covered it a lot. The race for the vaccine. It continues. Lefthand side of the screen, immunovaccine, that stock hit a 18month high because, a potential virus vaccine, one of theirs, nears clinical trials. The stock is up 82 as we speak. Social distancing, how you keep spread of the virus under control. Listen to this. There is a pub in england has a creative way to keep you getting too close to the bar. Johnny mcfaden is with us, he is the owner of the star inn. Its a pub. It is in cornwall. He is with us right now. Johnny has installed a electric fence. What on earth are you up the world finances have taken a royal hit. Tourism of course has been wiped out by the pandemic. Its left a 22 million hole in the royal budget. So therefore, anything, any idea is being considered and gin was one of them. If youre wondering where the money goes, it all goes to the Royal Collection trust, a registered charity. It also oversees one of the most important art collections in the world. Give it a go. Her majestys london dry gin. Stuart i wonder if you can buy it at that pub with the electric fence. Anyway, weve got more. More on alcohol. Johnny walker, the scotch guys, scotch whiskey, doing a makeover to their bottles. Lauren, have you got this story . Lauren this is the booze block, stuart. Yeah. Johnny walker will now be in a paper bottle starting early next year. Listen, if you are putting the blue label in a paper bottle it better not taste like a paper straw because i cannot stand paper straws as much as i love the environment. The liner will be resin, it will disintegrate when all the whiskey is poured out. Many companies are coming under growing pressure to reduce the amount of plastic in their packaging but i thought Johnnie Walker was in a glass bottle. It emits carbon but this really isnt about plastic, is it. Stuart i will tell you one thing. A bottle of Johnnie Walker blue, their top of the line, costs over 300 at the places where i have seen it. Lauren oh, i know. Stuart i would not be paying 300 for a liquor, whiskey, served in paper. I just would not do that. I dont care what your motive is. Are you with me, lauren . Lauren 100 . I am known to give the blue label as Christmas Gifts so i will put you on the list and it will not be paper. Stuart thank you very much indeed. Glad we got that in. All right. Lets get serious. President trump weighing in on a wave of Violent Crime in americas cities like new york, like california, like chicago. Watch this. Reckless politicians have defamed our Law Enforcement heroes as the enemy. Far left mayors are escalating the anticop crusade and Violent Crime is spiraling in their cities. Its all far left cities where they have no understanding of what has to be done. They dont have a clue. Stuart and new york congresswoman alexandria ocasiocortez still wants to defund the police. Brian kilmeade fired up about this and rightly so. Hes on the show 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. Hike Simon Pagenaud takes the lead at the indy 500 coming to the green flag, racing at daytona. Theyre off. In the kentucky derby. Rory mcllroy is a two time champion at east lake. Touchdown only mahomes. The big events are back and xfinity is your home for the return of live sports. Stuart momentarily well be joined by Brian Kilmeade. I want to tell but the market. Were you e up nearly 200 for the dow industrials. But were down 33 on the nasdaq. What a situation this is. Very different from what we were seeing yesterday at this time. Right, it is now exactly 10 51 eastern. Brian kilmeade is with us. He is host of the Brian Kilmeade show. Brian, weve seen a wave of crime in some big cities. I want to listen for a second along with our audience what the president is saying about this. Roll tape. 358 increase in shootings in new york. Last month over 300 people were shot. Nypd, retirements have quadrupled and theyre going up even further. And new york city is out of control. When you have 20 people killed, 22 people killed, in one weekend in chicago and you have8 shootings, 88 shootings, that is not even conceivable. That is worse than afghanistan. Stuart brian, lets be clear. Im fit to be tied about this. I live and work around new york city. The there are numerous shootings. The police are disparaged, no respect whatsoever, and we have local officials from the mayor to aoc, calling for defunding of the police and blaming them and guns for whats going on here. Brian, i know youre the same as me. Im fit to be tied. I think this is disgrace. We talked to five minutes ago, the has dow county police commissioner, in constant touch with new york city. They say they are. Look at these events. Covid crisis, a lot of people out of work. Number two, the bail reform. You cant hold anybody more than an hour. Number three, theyre emptying the prisons because of the covid crisis. People no business getting out of prison are out and about. Nypd being overzealous in their actions. Making this the safest big city in the world, which you dont know unless you visit here. Not only nypd respect, usually get tourists want to take pictures with them. Theyre asked to go around to speak in various Police Departments around the world. Certainly around the country. What is happening is, they cant retire quick enough currently. They have just told the incoming class, youre done. So for those people who were planning going to the academy with College Degrees or coming right out of high school, youre all set, got haircut, got uniform, set to report. And now, chaos. Over 2,000. That were going to be cops in the city. No reinforcements. No anticrime unit. Basically im told, theyre the eyes. They tell all these presents where to go, what to do and where the problems are. So they lost that. Stuart how do we get new york city to recover . How do we recover from the lockdown and the violence when you got authorities doing this kind of thing . Look, i got to predict. New york city will not return to anything like we consider normal for years to come. And it is the fault of local officials. What do you say . I think we can reverse it quick. Heres why. All we need is somewhat of a competent, determined, experienced, not politician but business person to take over this city. Remember how quick, mayor bloomberg, saw the testimony late that mayor. Mayor giuliani. He has a reputation and horrible mayor in mayor in de blasio who listens to is his wife has no sensibility where the city is heading. Wasted billion dollars on a program that is unaccountable for. Theyre painting black lives matter across from fifth avenue, across from trump tower. They have a governor who knows there is a problem but will totally keep his hands off that problem because it might reflect on them. So he takes no control. It is a perfect storm of idiocy. I believe new yorkers understand, do the thing called voting. You hit the lever, not only more than 20 got to show up. Well get the right man and or woman in there. One of those people is harold ford. A democrat living in this city. Loves it. From tennessee. I think he would come in and do a great job. Stuart i know harold ford. You got to get him to run. Stuart when he finished politics in tennessee, went into wall street, sensible, straightforward guy. He is a democrat, and he could win. When is the election for mayor of new york . Another yearandahalf, but i just think it will take a groundswell from the people to understand how bad it is and were all on the same side. When you see the people that need the policing the most, it is working class communities, it is cities who are up against it, who need policing the most. Hardworking people looking to make their circumstances better, they will realize and reach out. Were already seeing it in minn american and seattle, where the people are saying i know who the bad guys are and it is not the cops. Stuart i would like to hear from joe biden. Take back control of the Democrat Party away from radicals that seem to be running it now. His silence says he is complicit. His silence says he is complicit with the status quote. He is okay with minneapolis. He is okay with chicago. He is okay with the chaos in portland where antifa runs rampant in the streets. He is okay with what is happening in new york because his mouth is shut. A guy who is not okay with it, president of the United States and democratic mayors are falling flat on their face for the whole world to see. Stuart brian, hard break. Here it is, Brian Kilmeade. Thank you very much, sir. More varney coming up. I have the power to lower my blood sugar and a1c. Because i can still make my own insulin. And trulicity activates my body to release it like its supposed to. Onceweekly trulicity is for type 2 diabetes. Its not insulin. It starts acting from the first dose. And it lowers risk of heart attack, stroke, or death in people with known Heart Disease or multiple risk factors. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. 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Learn how you can use a reverse Mortgage Loan to cover your expenses, pay for healthcare, preserve Retirement Savings, and so much more. 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 stuart yes, it is now 11 00 on the east coast of the United States of america. The markets are all over the place. The dow industrials are up 200. The nasdaq composite is down 60. Thats because of big tech. Can we check that, please . I keep saying this, but big tech has been all over the place today. Apple right now is down a couple of bucks. Microsoft is back to 205. Google is down 15. Pretty much across the board for big tech on the down side this morning. All right, everyone. Now this. The Los Angeles Teachers Union made a series of demands for reopening the schools. Dont reopen the classrooms, they say, until the police force is defunded. Charter schools are closed and the state gives more financial help to illegals. That is pure politics, nothing to do with educating youngsters. Its the teachers fronting the democrats playbook. Well, the teachers got one of their demands. Schools in los angeles and san diego will stay closed. Students will continue to learn online. No, they wont. According to the Orange County school board, Online Learning has been quote, an utter failure and its going to continue, depriving the heavily hispanic student body of an education for the year. All in the name of safety. Yet the fatality rate for children is virtually zero. Kids largely minority kids deprived of an education even though they face very little virus risk. Lets not beat about the bush here. This is all about politics. The Teachers Union is really an adjunct of the Democrat Party. They are using the virus to make purely political demands. Apart from defunding the police, giving more money to illegals and ending school choice, the l. A. Teachers demand medicare for all. Whats that going to do with reading and writing . They are prepared to sacrifice the education of a million children because they just hate donald trump. Who is thinking of the parents juggling work and home schooling . Who is looking out for the children who cant learn or socialize or businesses going bankrupt because their workers are at home with the kids . Last week, the president threatened to cut funding if schools didnt fully reopen. Good. I hope he follows through. It should be all hands on deck to rescue our childrens education. Instead its pull out all the stops to put a democrat in the white house and that is a disgrace. Charles payne is with us. Im getting hot under the collar. Lets see if he is, too. Are you with me on this, because i am hot under the collar. We are depriving children of an education, american children, because of politics. I think its a disgrace. Charles im with you one million percent. One million percent, stuart. This is really a horrific story. You know, the National Education association put out a Massive Campaign against President Trump and betsy devos saying not to reopen schools but you know, lets point out the National Education association from 1989 to 2014 contributed 92 million to political campaigns. 97 went to democrats. These unions have put themselves, their paychecks, political power, over children, particularly in large cities and progressive states for decades. The consequence of that is we are importing workers from other countries while americans are having a hard time being able to do those jobs or we cant train them for those jobs. Its really, im telling you, this is beyond the pale, stuart. We need to be talking about this is really an attack on the most vulnerable poorest parts of our nation. On one hand, the same people that complain about the lack of high speed internet, of these households that cant afford laptops and computers, dont want these kids to go to school, they are going to get further behind, the achievement gap is going to get wider and i guess they will make it up by forcing colleges to accept students black and hispanic students who arent prepared. It doesnt help the college, it doesnt help the student. You know, they go down the same rabbit hole and its all because they want this power. This is one of the most Disgusting Things going on in this country right now. My daughter is a single mom. My oldest granddaughter is 7 years old, shes a beautiful kid, i love her with all my heart. I cant wait for her to go back to school and she cant wait. Shes smart but you know, shes learning things online that shes not learning as fast. You know, she takes piano, she takes karate, she has lessons at school but she does so much better when she gets them in person. My daughter works. Its frustrating her not to be able to do more for her kid and this is a reflection of millions of parents across this country, whether you are a single parent or not. So what these teachers are essentially doing, they have given up on our kids. They have given up on our kids as they demand more political power. This is an atrocious atrocity. Stuart im glad i asked you for your opinion. Im very glad since we are in agreement with this. Look, i know we are smiling here but im deadly serious. I think this is a flat out disgrace. Let me move on. Im sure you have seen the report from ubs Investment Bank, you know these people, they say look, 81 of investors are scared that the markets going to plummet, tank, before this pandemic is over. They are worried about a coming sharp decline in the market. Are you . Charles you know, im surprised the numbers not 100 . The market is always vulnerable to a periodic pullback or socalled crash, right . Thats when the opportunities are happening. You know, i mean, to be quite frank with you, i always keep a certain amount of cash for those days because those are the days when you make more money, when you start to buy stuff and make more money than you could ever imagine or ever dream. Theres no doubt theres a tense nature to this rally and there should be. We are still waiting on a vaccine. We are still waiting to see what congress does next in terms of more stimulus. Theres a lot of unknowns out there. But im going to point one thing out. Those same investors, at least individual investors, they have been buying. Wall street has missed this entire rebound and its been the individual investor, as scared as they are, that have made all the money. Stuart okay. Last quick question, charles. Why shouldnt i, i have done reasonably well in the market, why shouldnt i get out now . At my age, im not looking real long term here, but if i got out now, i take my profit and keep my money, my retirement is secure. Why shouldnt i do that . Charles you know what, if you have a certain amount of money, you certainly should consider changing your approach to this market but i dont think 95 of americans do. Lets face it, if you live to be 65 these days, you are probably living to be 85. So thats another 20 years. The old way of investing where you take your age and minus 100 and get your division between bonds and stocks, we can throw that out the window. Theres not much more room on the down side for bond yields. You got to have greater exposure to equities for most americans. The amount of money that you can make again in a short period of time is still pretty mindboggling. You know, if you are stuart varney, definitely take some out if you want, buy an island with that money. I notice you have been taking more vacations lately. You didnt do that before you became an american citizen. Stuart 15love, charles, to you. Im going to watch you at 2 00 this afternoon making money with Charles Payne on this network. As always, thanks very much for brightening my day. Youre all right, fella. See you later. Quick stock check on ford. Doing nothing. Six bucks a share. By the way, they have unveiled their new line of broncos. The standard issue goes for just under 30,000 bucks. Going to hit dealerships next spring. There it is on your screens right now. But the stock does nothing. Its always about six, seven, five dollars a share. Now show me tesla. Can you believe this . Ford sells millions of cars a year. Tesla sells thousands. Tesla is up 20 bucks as of right now. By the way, they are cutting the price of their model y crossover suv by about 3,000 bucks. They are getting rid of the Standard Range version all together. Thats not affecting the stock. Basically tesla is living on hope and thats why it keeps on going up. 1500 right now. Google, their online Video Conference app called google meet adding extra protections against zoom bombing. Thats when somebody you dont know crashes your conference. Those new measures will go into effect soon. Dont know exactly when. Googles stock is down along with the rest of big tech. Look at apple. Set to pay out 500 million, its a settlement to customers who complained about apples intentional slowing down of batteries. If you think you were affected, fill out a form online. Could get you 500. Apples stock is down. More on apple. Weve gotten word they are reportedly not expecting employees to return to the office before the end of this calendar year. How about that. Again, apples stock is down just a little this morning. All right. Better check those, what else we got, the drug makers. I think weve got good news this morning on a virus vaccine beginning production in the summer. Is that right, ashley . Ashley that is right. The Trump Administration hoping to produce these potential, i say potential covid19 vaccines by the end of the summer. In fact, manufacturing is already under way even though we dont know which one could be the most effective. That has yet to be identified. What this is all about, doc siegel talked about this, is getting ahead of the game so that when we do find the vaccine, production and manufacturing and distribution will all be far, far advanced. Look, there are four potential vaccines that are leading the way, including ones from moderna and Johnson Johnson. They look very promising indeed. But by the end of the day, the u. S. Aims to have some 300 million doses available by early 2021. So a lot of this is done on hope that one of these vaccines will be the key so that we can take this vaccine and we can all get back to normal. We dont know which one but the Trump Administration is gearing up, revving up production, knowing that hopefully, one of those will work. Its interesting. Stuart know what i like to see, the administration revving up private enterprise to come up with a solution to this awful problem. That looks like they have done it. Or certainly will be by the fall. Ash, thank you. Couple of stories on the airlines. I will start with delta. They reported earlier. Revenue just 1. 4 billion. The lowest level since the 1980s. They spent 3. 2 billion on virus related expenses. That is enormous. But lauren, come into this, please. There is some good news. They may avoid fall furloughs all together. Is that true . Lauren we hope so. Thats what its looking like right now. They might be able to avoid those involuntary furloughs that would happen this fall because 15,000 of their employees volunteered for the early buyout packages. Carriers are working to cut costs and they cannot cut jobs until october 1st according to the rules of their federal aid packages. So i will call that good news after we got those horrific earnings from delta earlier. Stuart okay. Call it as you will. Tell me about american airlines. The largest u. S. Carrier. Lauren yeah. That is true. American is the biggest and they might warn staff starting this week about potential furloughs. Just because you received this warning doesnt mean you are actually going to lose your job. By law, workers must get a 60day notice. American has already said it is overstaffed by 20,000 workers, to give you an idea of how many workers that is, about 15 of their 130,000 staff. United last week, remember that, they cut 40 of its staff to prepare for furlough. Stuart the airline business. Thats a tough business in the virus era. Thats a fact. Thanks, lauren. College football Officials Say its likely no one will play this fall. This is College Football. Could we see a Spring Season . How about that . Good question. We will ask legendary coach lou holtz. Hes on the show. Miami is now considered the new epicenter of the virus. The county seeing a 69 increase in icu patients in just two weeks. Will new shutdowns curb the spread . The mayor of Miamidade County weighs in on that next. And a bigtime movie director is fed up with political correctness. He says hollywood is too sensitive. Actor Isaiah Washington will react to that later this hour. 49i found you good job. Now im gonna stay here and you go hide. Watch your favorites from anywhere in the house with the Xfinity Stream app. Free with your xfinity service. Now any room can be a tv room. Stream live tv, on demand shows and movies even your dvr recordings. Download the Xfinity Stream app today to stream the entertainment you love. Xfinity. The future of awesome. And you guys have no plan and youre doing nothing. Shame on you we have to address the virus with steady resolve. We have a long road ahead but we also have to understand that within the context of the moment. Stuart okay. That was the florida governor, ron desantis, as you heard earlier. He was heckled by protesters because of the states rise in virus cases. 12,000 cases in florida reported monday but we want to focus for a second on Miamidade County which had 3,000 new cases reported as of yesterday. The mayor Carlos Jimenez joins us now. Your honor, welcome back. Good to see you on the show again. Obvious question. Are you considering a new and total shutdown for your county . Not at this point. We spoke to our medical advisers last week about additional measures that we could take. Right now we have a curfew in place, we have shutdown all the places of assembly, movie theaters, bowling alleys, casinos, and we also closed the interior spaces, interior dining rooms of restaurants because thats inherently dangerous because you have to take your mask off. We need to see what those measures, how they take ahold and hopefully we can drive this contagion down before we start to take any additional steps. Stuart we are seeing a lot more young people in miami getting hospitalized for the virus. Are you able to control youngsters . Because thats the nature of the beast at the moment, isnt it, controlling the youngsters in miami. Can you get a grip on them . Easier said than done. Thats why we issued a 10 00 curfew to try to stop the social interaction. Its not just in public places. We also know its happening in private homes and pool parties and all. So that that was one of the main causes why we have this huge spike in the middle of the month. We had demonstrations here also, young people together for hours on time, lot of them not wearing masks. We felt that was an issue, too. Im not saying that was the issue. Im just saying it was part of the issue. All of those things combined, yeah, we had young people really spike up in Positivity Rate and unfortunately, now we are seeing older people coming back to the hospital as the younger people are infecting the older people. So we have record highs in the number of people that are in the hospital, 2,000 Covid Patients now in our facilities here in miamidade. We have over 400 people in the icu, we have over 200 people on ventilators. We still have capacity. We never want to get to the point where we exceed our ability to treat those patients. Stuart how strongly are you going to crack down . I dont mean the word crack down is probably the wrong word to use but how strongly are you going to enforce things . For example, somebody breaks the curfew, you arrest them and fine them . Or somebody goes in some place without a mask and refuses to wear a mask, do you arrest them, fine them . How strong you going to be . Were strong. We have over 6,000 inspections in miamidade we did yesterday just on our businesses and we did have to shut three or four down for violations. We are putting instilling a civil citation basically like a ticket and once we get that, the legality of that done, hopefully this week, within ten days we will start issuing tickets to people that are not wearing their masks outside and inside. Inside, you shouldnt be wearing a mask in a business. The Business Needs to enforce that because if they dont, they run the risk of getting shut down by one of our officers or in the future, one of our inspectors. So yeah, we also have ambassadors in our parks, keep people apart. We have ambassadors on our beaches that keep people apart and make sure that they are following the rules which, by the way, by and large they are. But its pretty tough to, you know, when young kids want to get together in a house and have a pool party and all that, its pretty tough to enforce that. But again, thats why we put a curfew in place. Yeah, weve stopped people and issued them citations for violating the curfew. Stuart its a tough situation. We really appreciate you being with us today to explain it all and tell us what youre doing. Thanks fo joinir joining us. The individual that heckled the governor, hes one individual. Hes a. Derek democrative operative. Hes well known down here. Stuart thanks very much for telling us that. I did not know that. That is important. Your honor hes well known. We know who he is, exactly who he is. He does it all the time. Stuart thank you very much. We appreciate that. Add to the show, definitely. Thank you. We have news from new yorks governor cuomo. Hes expanding the list of states from which visitors need to quarantine for two weeks. Youre coming from this new list of states, you go to new york, you got to quarantine. The new states are minnesota, new mexico, ohio, wisconsin. New york state saw 912 new virus cases on monday. 912. Okay. Got that. Expanded quarantine list. There are 22 states on that list, by the way. Couple of stock stories for you. Okay. Yum brands, on your screen right now. Parent of kfc, closing all their companyowned dining rooms in florida because of the virus spike. 40 locations affected. The stock is actually up a little. Burger king set to roll out a new version of their whopper. Its still made from cows, forgive the expression but get this, those cows are on a low methane diet to fight climate change. What will they think of next. The stock is up. Kroger received emergency use authorization from the fda. Their athome covid testing kit. This test will give you the results in less than 72 hours. The stock is up nearly 2 . Amazon introducing a new shopping cart that knows what youre buying and charges your account automatically when you bag it up. So you can skip the line. The carts debut in los angeles later this year. Amazon is down today. Movie theaters, lauren, come in, please. I think youve got another grim prediction about the movie business . Lauren i mean, look, they are losing half the year. Mkm partners says theaters are not going to open before september at the earliest and when they do, they expect the 2020 Box Office Revenue will fall about 70 . 70 . But lets face it, when you can go, what is there going to be to see because the expected blockbusters, tenet and mulan they keep pushing back the release dates. They will probably get pushed back again. Unfortunately, sign of the times u cant go to the theater and the theaters have to stay in business. Stuart sign of the times. Theres lots of signs of the time. Not all of them are good. You will recognize him from grays anatomy. The actor, Isaiah Washington. Hes got a new gig on fox nation. Roll that tape. Good food is universal. Thats every delicious ingredient has its own story to tell. So does every person. Stuart kitchen talk. Mr. Washington cooking in the kitchen, digging into peoples pasts as well. More on that later in the show. Bars and Indoor Dining closed for a second time in california and the mayor of los angeles says they, los angeles, on the brink of a total shutdown. When will this cycle of closing, reopening, reclosing, its a cycle, when will it end . We will figure it out for you next. Hey, can i. Hold on one second. Sure. Okay. Okay safe drivers save 40 guys guys check it out. 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 hes here. Hes right here. Hi hi. Hey thats totally him. Its him thats totally the guy. Safe drivers do save 40 . Click or call for a quote today. groans hmph. food grunting menacingly when the food you love doesnt love you back, stay smooth and fight heartburn fast with tums smoothies. Tum tumtum tum tums stuart split decision still. The dow is up, the nasdaq is down. Thats the state of the market as of right now. Leading the dow, do we have the dow winners there . I think we do. Yes, we do. Chevron, caterpillar, mcdonalds, exxonmobil. Those are the winning stocks among the dow. Passenger traffic. Lets have a look at the airlines. Passenger traffic down 89 in the month of may compared to the month of may last year. However, there is an uptrend in the number of passengers that airlines are carrying. Remember we had a low of 80,000 in late march, early april. Were way back up from there. The trend is up. Not enough to rescue the airlines, though, from a very bad situation. Back to the virus. Bad news from california. You have heard this. Governor newsom ordering the reclosure of restaurants, bars, movie theaters, zoos, you name it, theyre closed down again. Larry elder, our voice of reason on the west coast, joins us now. Look, we seem to be in a cycle here. You shut things down, you reopen, you shut things down again. Its a cycle. When does the cycle end . Well, thats a really good question. Its kind of hard to take this whole cycle thing seriously when last month, some 1,000 Health Care Experts signed a letter saying its okay to go to the streets and protest the death of george floyd because its vital for the nations health. Are you kidding me. The mayor of l. A. Just a few weeks ago said there really isnt any evidence these protests have caused an uptick in the spread of the coronavirus before he walked that back. So its hard to take this real seriously and i know you referred to that wall street journal article this morning earlier in your program and it turns out according to the cdc there have been 30 kids under 15 who have died from the coronavirus. In a typical year, 190 kids under the age of 15 die from the regular flu. What are we talking about here . Kids apparently are at low risk of contracting it, have very few serious symptoms when they have it and do not appear to be spreading it nearly to the extent that people thought. Because western europe has been able to reopen their schools without any kind of serious fallout as a result of it. So i dont understand why we dont understand the concept of trado offs. The republican states do, the democrat states dont. I dont know why this has become political but for some reason, half of the country seems to understand the concept of tradeoff and half the country does not. Stuart i think, look, when im referring to los angeles and san diego School Districts, they are shutting classroom education. They are going all online as we start the new school year. All the way through this calendar year. That to me is pure politics. Its pure thats pure politics. Theres very little risk to the youngsters and yet they are closing them down and denying an education to a lot of minority kids. I think its a disgrace. I think its a disgrace but let me take issue with the idea that its pure politics. I dont believe that these officials care any more or any less about the health care of kids than donald trump does. I just think theyre wrong. I think the left has a concept that life should be completely devoid of risk and the right understands that life involves risk. We understand who the high vulnerable populations are. We understand social distancing. We understand about wearing masks. Allow adults to act accordingly. We are living in america, a free society. We ought to be able to act accordingly. In 1968, stuart, there was the hong kong flu, adjusted for population, 150,000 americans died. Nobody shut anything down. I was a teenager when that happened. I dont even remember it. Stuart now, i want to get back, i do believe it is political. I will tell you why. The Los Angeles Teachers Union put out a Research Note and they have conditions for reopening the classrooms. Their conditions were defund the police, end all charter schools, medicare for all and more financial payments to illegals. What the devil has that got to do with education . But that was their political terms for opening the classroom. It is politics. A number of kids are proficient in math and in english and we are shutting down schools. How is this Virtual Education thing going to go . Studies show that kids just dont learn the same way when nobody is there to supervise them and make them Pay Attention than if theyre on their own. Its ridiculous. Stuart yes. They are going to have another holiday for the next three, four, five, six months until the end of the year. We can laugh about it but its a disgrace. That is depriving kids of an education. American kids deprived of an education. I think its a disgrace. Absolutely. We are already behind our european and asian counterparts. We are going to be behind even more and those living in the inner city are the ones who needed indicatineed education the most because they are the ones with the biggest achievement gap. Stuart next year, think we will hear calls about oh, we are being discriminated against . Next year we will hear calls about how much more money the schools need in order to do their job. Thats always their answer, more money, more money, more money. Stuart you really are the voice of reason from the west coast. Sorry youve been such a stranger to us. Dont let that happen again. Come back soon, okay . Lets remember, this is a state where one county, san bernardino, has declared racism a Public Health hazard. Honestly, scottie, beam me up. Stuart im glad you can laugh about these things because im having a hard time with it. Larry elder, youre all right. See you again soon. Thank you, sir. Thank you. Couple of stocks to watch. Companies in the news, Lockheed Martin. China is going to sanction Lockheed Martin because they are going to sell surfacetoair missiles to taiwan. Thats a nono for the chinese. The state Department Approved a 600 million deal between lockheed and taiwan last week. The chinese dont like it. Look at 3m. They are developing a rapid test for the virus with m. I. T. Researchers. They are getting 500,000 from the government for the development of that. 3m is up 1. 5 . Listen to this. More than 6. 5 million was bet on table tennis in colorado just in the month of may. Thats about a quarter of all Sports Betting in colorado for the month. It tells you how skewed the sports market is. The disney world bubble, thats the nba down there in orlando, its in question. Two nba players test positive for the virus. If athletes cant stay safe in a controlled environment, how are other leagues going to protect players on the road . Bad news for sports in general. We will discuss it. And now that the redskins are a thing of the past, the p. C. Police shifting focus to baseball. We will tell you the latest team under fire. Might surprise you. Deal with it next. Cool breeze from the air wind blows through my hair dont care if people see me dancing in my car i got you stuck on my mind and i feel so alive and fly and freely floating through the open sky and if it shines or rains oh i cant complain its still a Beautiful Day because i got love, got love got love, got love its a Beautiful Day got love, got love got love, got love can i be washed away [vocalizing] as long as i got love, its a Beautiful Day. 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. I think its wonderful. Its about time. You know, a lot of us have been scratching our heads over this for the last several years, and im thankful for the washington franchise and i just hope that theyre including the fans out there that they have that come in with the kind of name, the proper name they all are happy with, including the owners of the team. Stuart you know that man, obviously. Thats joe namath on the show yesterday. Hes happy that the redskins changed their name. That could be the tip of the iceberg, though. Then they were going after the Texas Rangers. Look at this. An oped in the Washington Post says the Texas Rangers team name must go. The writer says rangers once oppressed black people and helped capture runaway slaves. Lou holtz is with us, College Football hall of fame coach. Coach holtz, what do you make of this . I tell you what, i dont know what to make of anything and im an old man, stuart. Ive always felt i can endure anything if i know its going to end but i dont know when this business is going to end. Im talking about whether it be the virus or whether it be changing names, tearing down statues, changing our culture, changing our way of life. I dont know why we have to change everything. Yes, those changes need to be changed but lets leave the other things alone. Stuart okay. We hear you. Weve got a highranking College Football official, hes telling yahoo sports no one will play college ball this year because of the virus. Thats pretty strong stuff. What do you make of it . Well, i think its because of the rules and regulations they have. There have been over 100 Football Players tested positive since they returned back to campus. Not a single one of them has been hospitalized. You know, if they are going to do it, the way they have it in college is one player tests positively, they go to the 20 players that he had contact with and say you must be quarantined for two weeks and then we will check you. So one player will cause 21 players to miss two weeks practice. Theres no way you can have football unless theres going to be a risk. Its the same thing. How you going to have football if you arent going to open up your College Campuses . You arent going to be able to open up College Campuses because you have professors who are much older saying i would be subject to covid and i dont want to do it. You get everybody pulling in different directions. This used to be the home of the free and the brave. No longer are we free and we sure arent showing any bravery. I say that sometimes you just have to say lets move on, you are going to have casualties, these things happen, you cant protect everybody all the time. To me if youre sick, go see a doctor. If you aint, show up for practice. Stuart if you didnt have any College Football this year, a lot of other sports programs in colleges simply would not survive. Its the death of a lot of sports programs. If they dont get any College Football money. Thats a dire situation. Absolutely. Absolutely. The average power five Conference Team they say would lose 60 million in income, in revenue, if they dont play College Football. In football, finances all the other things. Number one, the coaches get paid salaries. It finances every sport basically there. If you take the money away, whats going to happen to the universities . Some of them are going to have to get loans, some will have to be bailed out by conferences, et cetera, until we can have football. And i dont know when we are going to have football. Lets just say theres going to be a risk on it but everybody is afraid if somebody has a problem, an allergy, and somebody ends up dying, then everythings done and nobody wants to take that risk and yes, you know what, nobodys life need be put at risk but i do think we need to move on as a country. We have to look at everything from both points of view. A leader looks at it from the players side and the coachs side. The scientists just look at it from one side. Sometimes the medication is much worse than the illness itself. I know that having lost my wife within the last ten days that that happens. Thats part of life. Theres a risk to it. Lets move on with our life. Stuart were sorry to hear that. I did not know about it. We appreciate you being on the show today and talking common sense. We love it. Come back soon. Coach lou holtz. Great man. Thank you, sir. Thank you for having me. Stuart yes, sir. Switch to basketball. The nba is now allowing fans to put Free Hong Kong on custommade gear. Ashley, that is a reversal. Ashley it certainly is because for awhile there, people were complaining and social media lit up. When you tried to have that custom text, Free Hong Kong put on the back of custom gear or wherever you wanted it when you went online to order your products, you just got an error message. That started the backlash, if you like. At that point critics were piling on saying wait a minute, the nba has been way too cozy with china, the players themselves are allowed to have social justice slogans on their jerseys. Rick scott of florida, the senator, says the nba has chosen profits over human rights. There was a big pushback. But now, all has changed. You can indeed put Free Hong Kong on custommade on to your products that you order online. You only get 12 characters and at first, the nba said well, you can have hong kong or hong kong free, but couldnt at that time have Free Hong Kong. But now, all has been resolved and indeed, you can have Free Hong Kong on your custom gear. Stuart yeah. Lets see what the chinese say about that. Ashley yes. Stuart because they will have something to say. Thats guaranteed. Ashley theyre not happy, im sure. Stuart thanks, ashley. More varney after this. mom come on, hurry up all systems go . Mission Control 5 4 3 2. And liftoff. vo audi etron. The next frontier of electric. Get audi at your door Remote Services through participating dealers. Iredefined the wordng thschool this year. 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. Stuart weve got some Important News here on the virus. The number of cases reported in florida might be incorrect. A report from Orlando Health showed a 98 Positivity Rate but when fox 35, thats the local news station, contacted the hospital, they said the rate was actually 9. 4 . Very far cry from 98 previously reported. That means that Previous Report was incorrect. That is a very important development. New caseload in florida. All right. Change course. Lets go to hollywood. Director oliver stone slamming what he calls hollywood fragility. Speaking at a recent interview, he says, quoting now, everything has become too fragile, too sensitive. Hollywood now, you cant make a film without a covid adviser. You cant make a film without a sensitivity counselor. It is ridiculous, says oliver stone. Look whos here. Isaiah washington, former grays anatomy star and new fox nation host is having a grand old time on this show right now. Isaiah, let me start with oliver stone. Do you think hollywood has become even more politically correct in recent months than it was in the past . You know, hollywood is kind of one of those Stubborn Mules. I was a kid in high school, i used to have a contest and you would pull the mule out of the stall, he didnt want to be pulled out and started spraying blood out of his eyes. Thats how i see hollywood right now. The Stubborn Mule thats crying bloody tears. I dont understand, it makes no sense to me what hollywood is doing. I really dont care what hollywood is doing. Im glad oliver stone is still out there trying to make movies in the system but ive already got partners and we are starting a whole new system that will be antihollywood so i dont know what to say to you. Stuart i would love to hear it. Thats music to my ears, sir. Absolute music to my ears. But ive already started with kitchen talk. That gives you an indication that, you know, the people, the American People and the world are tired of the lies. I was just saying the a friend of mine this morning about he was so excited about people texting him and letting him know my show was on fox nation and hes a marine and i just told him, texted him, i said you know, ive never seen a war won or a starving enemy won over or a culture of people survive without good food. I would rather cook and eat with you than kill you. You know . Like i dont understand what hollywood is doing but i think i have a nice little answer, an alternative to say look, if you want to sit down and talk about it on my show over a good meal and some wine, lets do it. I think thats much easier than killing each other. Stuart look, i have not seen the show. I know its only just debuted but you entertain interesting people, you sit with them, you cook with them and you talk with them. Its a food cooking interview show. Have i got that right . Thats the structure. Yes. The structure now, its good to have three recognizable faces which you have, various communities that are politically, you know, ideologies dont really come up in the show, as they shouldnt because im actually having humantohuman conversations, humantohuman interaction. I would love to sit down with Roseanne Barr or anyone, or kathy griffin, put her on, you know, so we can really get down to the nuts and bolts of why these people really believe what they believe and feel the way they feel and you know, the other piece of my show is the in vino veritas. Stuart i got it. We will be watching. I know you are debuting as of today. We will be watching. You are a great addition to fox nation. We really want to thank you for coming on the show. We do appreciate it. Thank you always for having me. I appreciate you. Thank you so much. Stuart more varney after this. Surance so you only pay for what you need . Given my unique lifestyle, thatd be perfect let me grab a pen and some paper. Ow. 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Today, most of big tech stocks are down with one exception. That is, tesla. Im going to call them a big tech stock. Tesla is up 14 bucks as of right now. 1511 per share. Go figure. Times up for me. Neil, its yours. Neil thank you, stuart, very, very much were following what is happening at the corner of wall and broad with that. Outside of Tesla Technology taking it on the chin here but the big reason for runup in the dow has to be improvement and promising news were making on the vaccine and treatment front. For example, we already seen the 3m right now moving very quickly on a rapid covid19 antiagain test that can get results within less than an hour. Separately moderna is beginning latestage virus vaccines trials as soon as the end of july. You have a Company Called, i hope im pronouncing this right,