Of the surge in new cases. Ill have more on that in a moment. We are getting new information on the twitter hack. It wasnt just a handful of celebrities. 130 accounts were targeted and it appears to have been an inside job. That is serious stuff. Im not sure that Twitter Twitter is up, thats right. Im thinking of another stock. Okay, twitter is up just a fraction. It is serious stuff about twitter. Weve got an analyst on the show who says it might have been a test run for something much bigger. Time to drop your twitter account . We will ask the question and get an answer. More on that coming up, too. Lets get to the market. This week we have seen a shift away from big tech and towards smaller companies. The russell index of small cap stocks, for example, up 3 this week. The dow industrials, down just over 2 . This morning, we will open with a nice gain for the dow, up maybe 100 points, 26,600. Look at the nasdaq. Theres a bounceback for you, up 100 points at the opening bell. All right. Now look at this. Heres where i was getting confused. Netflix, that stock is way down. They missed the analyst expectations. Oh, how dreadful. Netflix says subscriber growth in the future will slow down sharply. Thats what hurt them. Premarket, the stock is down 6 , 33 bucks a share down. Weve got a big show. Mob rule, it continues. Another riot in portland and in new york, the man accused of beating a Senior Police officer just walks away scotfree. Thats new york. Masks are now required in many nationwide chain stores. You will meet the Flight Attendant who wants to make them mandatory on all planes. Some states are mandating mask wearing, too. Plus the markets and election risk. What happens to your money if joe biden wins . Dont forget, it is friday. That means friday feedback. One of our viewers calls me a flibbertyjibbit. Somebody else wants to bring back the beatles. Varney company is about to begin. No administration in history has removed more red tape more quickly to rescue the economy and to protect the health of our people. When you think of it, we are all set up that as we get the vaccine or therapeutic and were set up militarily, were going to be delivering it in record time. Its all set to move. Stuart okay. You heard it. That is what the president is doing here in america to fasttrack a vaccine. Overseas, the European Union is negotiating an advance purchase of potential vaccines from moderna, sanofi, Johnson Johnson and biontech. Want to bring in an economist on this one. Brian wesbury is with us. Seems to me that a vaccine this year is really vital to the economy and therefore, to the market. We need good news on vaccines, brian. Yeah. We do, stuart. Even if we are flibbertyjibbits or whatever the viewer calls you. Look, the oxford group months and months ago promised a vaccine by september. The leader of that group, she said we had an 80 chance and they look like theyre on track. I think the key here is that this will make people feel better. But one of the things that we have consistently said, i have consistently said during this, is that we cant really, other than a vaccine, stop a virus. It doesnt matter how low you get the numbers. When you open back up, it will start to spread again. You can lock everybody in their houses and i guess slow it down, maybe even stop it, but if you lock everybody in their houses, we dont have an economy. And when we dont have an economy, that creates way more problems for the future. So this vaccine is kind of the key to get everyone feeling better about being normal in their activities so lets hope and pray that this comes. When i look at testing out there right now, we are doing seven times more testing today, every day, than we did back in march and april. No wonder were finding more cases. People should take heart in the fact fewer people are dying. Stuart i just want to get this in because we also had good news on the Real Estate Market early this morning. Housing starts, up, what is it, 17 in the latest month. Thats a very big number. Youve got Mortgage Rates at 2. 98 . I think thats an alltime low. Im suggesting that a real estate boom, Single Family homes, is extremely good news for the overall economy. Right . True. I totally agree. Not only that, but permits boomed as well. We are still not back to the highs that we saw in january and february, but we are about where we were a year ago, just a little bit lower. You know, the other news this week is that retail sales in the month of june were up 1. 1 from the june a year ago. To me, that is amazing. I want to kind of look at that just for a minute because a year ago we were a little bit below 4 unemployment. Now were over 10 unemployment. So you have to wonder how could retail sales be up year over year. Its because of government payments to individuals and while thats good, the governments helping people get through these shutdowns, i do worry that what weve done is we have borrowed consumption from the future. Were borrowing it from our children so that we can spend it today and that will be a longterm problem for our economy. [ speaking simultaneously ] stuart real estates doing okay, good news on the virus, the economy is looking pretty strong at this moment. Brian, got to leave you. Thanks for being with us this friday morning. Appreciate it. Now, i want you to look at this. This is not good. 77,000 new cases, virus cases, reported in america this thursday. Thats a new record. For a moment focus on texas. That is a hot spot. Almost 15,000 new cases there on thursday. Again, that is a record. Lets bring in roger williams, republican congressman from the state of texas. Congressman, Governor Abbott says no lockdown, no second lockdown overall for the state, but could you see a new lockdown in a city like houston, for example . Very hard pressed. I think we know that locking the economy down does not work. We tried that nationwide and of course in texas. The governor has done the right thing in passing a lot of Decision Making on to local officials so houston has got some issues where they want to shut their economy down or not, its going to be a decision they have to make but the governor realizes you cant do that. I as a businessman realize you cant do that. So well see what happens. But were seeing a trend down last couple days and hopefully that will continue. Stuart the issue really, congressman, is this weekend is going to be a test. Can you control youngsters, enforce mask wearing and social distance . In a state like texas which loves its individual freedom and liberty, can you do it . Well, were trying to do it. We know that the younger set does not see things like you and i might see, but at the same time i think its proven we have seen it when we were one of the first to open in texas, that if you do social distancing and you do wear a mask, it can work. So hopefully, the governors talking about it, im talking about it, other leaders are talking about it to the younger people to do what youre asked to do and well get through this a lot quicker than not if we do that. Stuart you do have a declining caseload in texas over the last two, three days, i think it is, the number of new cases has come down. Am i right in saying that, congressman . I think i am. You are. We have seen it go down. We hope its a trend that we see. We have been doing a lot of testing and eventually we are going to turn the corner on this and you know, you have to have a day you start turning the corner. Maybe today is that day. Stuart let us hope. Appreciate you being with us today. Thank you, sir. Come again soon. Let me turn to new york. New yorks Governor Andrew Cuomo cracking down on alcohol sales. Bars and restaurants not allowed to serve alcohol without food, ending walkup bar service. In the city, new york city, if you dont enforce social distancing, you get three strikes and then you are shut down. Okay. Thats the virus, new york city and elsewhere. Lets move on to twitter. Susan, the fbis investigating and there are reports its an inside job. Susan so far, investigators know at least one employees account and credentials were taken over and then used to gain access to twitters internal system which allowed the hackers access to numerous famous accounts and this is according to reporting by the New York Times. We dont know if the employee was tricked into giving up the passwords or they were possibly bribed. Twitter did confirm that social engineering was used. Another way of saying that an employee was compromised. The tech blog mother board had also printed out pictures that allegedly showed hackers access to twitters internal mainframe. The fbi is also investigating this hack saying that at this time, the accounts appear to have been compromised in order to perpetuate cryptocurrency fraud. Twitters latest update says based on what we know right now, we believe approximately 130 accounts were targeted by the attackers in some way as part of the incident. For a small subset of these accounts, the attackers were able to gain control of the accounts, then send tweets from those accounts. This has now raised concerns about the security of social media platforms, especially we are more than 100 days away from the november election. Stuart who knows if this was a test run for something bigger still to come, maybe during the election. Thanks very much indeed. Its friday morning. We are closing out the week. Heres what the markets going to do. We are going up. Pay attention to the nasdaq. Look at that, up well over 1 . Big deal. The man accused of punching new york citys police chief and two other officers, this happened on the brooklyn bridge, that man has been released without bail. Next, listen to what mayor deblasio is saying about the city despite the increase in crime. Roll tape. We now have fewer people in our jails than any time since world war ii. We are safer for it and better for it. Stuart extraordinary. Let the criminals out and were all safer . Im going to go at that in my take, next hour. Treasury secretary mnuchin and larry kudlow said to be at odds over the next stimulus package. We will explain what some are calling an epic clash inside the white house. The president of the Flight Attendants union says it is absurd that masks are not mandated on planes. She joins me next. 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It drags the entire business down with inefficiency, errors and waste. Its ridiculous. So ridiculous. With paycom, employees enter and manage their own data in a single, easy to use software. Visit paycom. Com, and schedule your demo today. Stuart disney is indeed serious about safety. Virus safety. If you are not wearing a mask, they wont take photos of you while you are on a ride. More seriously, there are some who think that disney the virus policies are strict wait a minute. Not strict enough, i guess. Disney, lets get to this, disney heiress and liberal critic Abigail Disney is slamming them for reopening at all. She doesnt believe disney can protect customers and employees. Okay. Shes a longterm liberal critic of disney and of rich people in general. Shes rich herself. She wants us all rich people to pay a whole lot more. There you go. Airlines. Our next guest says it is quote, absurd that masks are not mandated on flights. Sarah nelson is president of the association of Flight Attendants. Welcome to the program. Great to see you. Thank you. Stuart youre saying look, the faa should require passengers to wear a mask or face penalties. Wear a mask all the time on every flight, is that what you want . That is exactly right. Aviation safety is all about we are all in this together and just like no smoking on the plane or youve got to wear your seat belt, these are federal regulations that keep all of us safe and Scientists Say that the masks are the best way to keep all of us safe when we cant properly socially distance. Stuart lets suppose the mandate goes into effect, lets just suppose for a second, youve got to wear a mask, youre on a plane and you are the Flight Attendant on the plane and a couple of people wont wear the mask. They take the mask off. What do you do . Well, we are trained to deescalate and we do that quite well, and frankly, most people come to the flight wanting a safe, uneventful flight and comply with the instructions and really look to us for that kind of leadership. We would try to get them to wear the mask and usually people around them apply a little peer pressure, too, and usually that works. If they dont, then theres consequences. Stuart okay. Now, would you be prepared to call other Flight Attendants and say were not going to work if we dont get mandatory mask wearing. Would you say that . We need this mandatory mask wearing. Let me just be very clear. On september 12th, 2001, the government had already put new regulations in place to keep us safe and to increase our security. We are well into this and not only is our health at risk here, but if people dont have confidence in flying right now, our jobs are at risk. The airlines have only come back to 20 of what they were a year ago and as the cases are rising, the bookings are falling again. So this is about everyones safety but its also about youre putting my job in jeopardy by not complying here. Stuart okay. What do you think your chances are of getting mandatory mask wearing on all planes . Well, the truth is that all of the airlines have these policies already. This is the easiest thing for the federal government to do. And there is growing desire in congress to mandate this if the faa does not step up and make this a federal rule. Stuart okay. It would be tough to keep a mask on for a continental flight, six hours, new york to los angeles. Kind of tough, isnt it . So this has to come with clear instructions about what to do. Theres mask etiquette, too. Of course people are going to take a drink and have something to eat. But there needs to be clearer instructions across the board about how to do that, when to do that. You want to wait for a few rows before the Flight Attendants hand ou tt the snacks because t last thing you want to do is put the crew at greater risk of contracting coronavirus because we are the ones who are going to come in contact with the most people. Stuart entirely understood. I do sympathize with your position. You are right on the front line getting real close to people. We understand that. Sara nelson, thank you very much for being with us this morning. We appreciate it. Thank you. Thank you. Stuart sure thing. Look at united airlines. The stock is up just a tiny fraction. Weve got news on a deal with the pilots union to limit furloughs. Ashley, before we go into the details here, what does it tell us about the future of Airline Travel . Ashley yeah. Its interesting, isnt it, because look, demand had stalled out as one ceo of a carrier said. They were seeing some improvement. Now its kind of dwindled again. There are reports out there, we will get into it later in the show, that it could be three years before anywhere close to previrus conditions. So that said, united is trying to get ahead of this, saying to pilots okay, ill well give you some options. How about you retire early. 62 years of age and older, you can put in for retirement, get your package, leave the industry. Also giving pilots the option to reduce their hours as opposed to being furloughed. Also, they say they can take a leave of absence during which time they are still eligible for benefits including health care benefits. All of this designed to try and save their jobs but its not easy. That government grant runs out at the end of september. Thats when the furloughs, thousands, up to 36,000, says united, are going to be going out. Stuart thats important here, because what you are doing is outlining the future of demand for Airline Travel in the United States and its not going to get back to normal for a very long time. Good story. Thank you. Lets go to the cruise lines. Heres a problem. The cdc, lauren, tell me exactly here, the cdc is extending their ban on cruises . Lauren they sure have. So the nosail order goes through october 1st. That means you cannot take a cruise through september. The reason is obviously covid. They say this specifically. On cruise ships, passengers and crew share spaces that are more crowded than most urban setti s settings. They noted the virus outbreaks on 80 of the ships between march 1st and last week, that is a lot of viruses, and this nosail extension does not come as a surprise to the cruise lines. Many had already canceled trips through september. You can see they are down today but for a lot of people who love cruises, they were hoping to escape the pandemic. You cant do that. You have to wait until at least october 1st. The chances of it being extended again likely, right . Stuart well, yeah, youre right. Its another story about the delay in getting back to anything like normal. It has been delayed. It will take a long time. Lauren, thank you. The vaccine will make a difference, thats for sure. A big difference. Bring it on fast, if we can. Look at the board. We are up 125 points on the nasdaq composite. That is a big deal. Thats a significant rally. Maybe the big techs are bouncing back. We will check it out. Well be right back. Tara, did you know geico is now offering an extra 15 credit on car and motorcycle policies . Wow. Ok thats 15 on top of what geico could already save you. So what are you waiting for . Idina menzel to sing your own theme song . Tara, tara, look at her go with a fresh cup of joe. Gettin down to work early following her dreams into taxidermy oh, its. Tax attorney. I read that wrong, oh yeeaaaah geico. Save an extra 15 percent when you switch by october 7th. Give it up for tara [camera man] actually anyone 50 or over is at increased risk for shingles. The pain, the burning my husband had to do everything for weeks. And the thing is, theres nothing you can do about it [camera man] well, shingles can be prevented. Shingles can be whaaat . [camera man] prevented. You can get vaccinated. Frank they have shingles vaccines whaaat . Thats what i said. Were taking you to the doctor. Not going through that again. [camera man] you can also get it from your pharmacist talk to your doctor or pharmacist about getting vaccinated. Talk to your doctor or pharmacist youre first. First to respond. First to put others lives before your own. And in an emergency, you need a network that puts you first. That connects you to technology to each other and to other agencies. Built with and for first responders. Firstnet. The only officially authorized Wireless Network for first responders. Because putting you first is our job. Stuart a couple minutes from the opening bell. In advance of that, we are going up. I see a lot of green right there. Are we seeing green for big tech . I believe we are. Check them out premarket. They have had a nasty week but this morning, friday morning, they are all on the upside. How about netflix . They forecast a weak Third Quarter in terms of subscriber growth. Thats not going down well. They are down 6 . Lets bring in mark douglas, steelhouse ceo. Doesnt sound to me like its very good when you forecast a big slowdown in the rate of growth of your subscribers. What do you make of it . Well, they are having the opposite effect of a lot of other businesses. Instead of having a weak q2, they had a really strong q2, so now they are forecasting subscriber growth is not going to be as strong. I think longterm, thats a temporary blip. I think longterm, all the trends are very positive for netflix. Stuart i dont know whether you recommend buying or selling stocks, but at 494, down 30 bucks, that is a dip. Would you buy netflix on this dip . Yeah, i absolutely would buy netflix. The reason why is look, home entertainment, people are in the mood right now. They are moving from big cities to smaller cities. I think thats a permanent trend postcovid thats going to basically force more inhome entertainment and netflix is one of the leaders in home entertainment. I think longterm, the company is really strong, has good outlook. I would absolutely be buying the stock. Stuart 15 seconds. Are they the best of the best in the streaming business . Yeah, absolutely. They weathered covid really well. They have content in so many countries and are using it really effectively. Theyre the best. Stuart youre right. Im an addict. Mark douglas, thank you very much indeed. We appreciate it, always. Come see us again soon. He says buy netflix at 495. Lets see if that works. All right. About ten seconds to go before they start ringing that bell. Then youve got another ten seconds before the market actually opens this friday morning. Theres the bell. Count it down. Five seconds left. We will start to trade and here we go. Friday morning, im expecting to see quite a bit of green across the board when we get off and rolling, and thats what were seeing. The dow right from the start is up, what, 60 odd points. Thats not very much. It might go up a bit more when they all open up. I dont see many losers among the dow 30. Plenty of green right there. The dow is up 60, 70 points right from the start and still moving up a bit. The s p 500, that is up about nine points. Modest gain. Its the nasdaq that im interested in. Lets see if big techs bouncing. Yes, it is. Not so much. 10,500 is the level on the nasdaq and thats a 30point gain. Up about a quarter to. 33 . Twitter, the fbi is involved in investigating that high profile bitcoin scam. The stock is virtually unchanged as of this morning but its at 35 a share. A lot more on that coming up for you. Now, the list of retailers requiring masks, thats really growing strongly here. Give me a list, lauren. Where am i required to mask up . Lauren cvs, target, walmart, kroger, kohls and best buy now requiring all customers wear face masks in all their stores, even if the local officials havent mandated it. Thats six major chains plus starbucks and costco. Youre looking at the list. There are 36 states now that do require masks in public as we are seeing the covid cases spike but you were just talking to the Flight Attendant and she has said look, we police it, we do a good job of policing it. Sometimes we need other passengers to help us and that was the reluctance of these stores. They didnt want to have their employees have to tell people put on a mask, but right now, because of this spike in infections, they are putting the onus on employees. Stuart it really is spreading. The mask requirement in stores and in various states and high street in some towns, its spreading. Thanks, lauren. Next case is uber. They are being sued by a rival Grocery Delivery Service. That would be instacart. Whats this about, susan . Susan stealing technology. Alleging the corner shop ubers newly acquired Grocery Delivery Company stole intellectual property right off instacart, that includes listing of inventory at some of their Grocery Stores. This lawsuit says corner shop stole thousands of pictures from instacarts internal systems and dont forget, we had uber taking a majority stake in the chilean startup corner shop last year and plans to bring this Grocery Delivery Service here to the u. S. Later on this month which uber says probably threatens instacarts turf which is why instacart is launching this lawsuit. Coronavirus is driving a surge in demand for delivery of everything from groceries to food. Instacart has said it was on track to process more than 35 billion in Grocery Sales this year. Meantime, ride hailing we know is being gutted, down 70 at last count in the month of may. Uber is getting bigger when it comes to delivery in food and groceries to make up for it including its 2. 5 billion purchase of postmates. Stuart enormous amount of money for grocery delivery. Susan 35 billion in total sales. That means how much customers are actually ordering off the website itself. It makes sense. Its been driving off of walmart sales this year as well. Stuart just an Extraordinary Development in a very short period of time. All right. Thanks very much, susan. Uber also announcing a commitment of 10 million over the next couple years to advance the success of blackowned Small Businesses. Uber plans to double black leadership by 2025 and there will be no fee for delivery from blackowned restaurants. Thats uber. Macys. Come on in, ash. They doled out some big bucks to executives right after announcing layoffs. How much they give them . Ashley not good optics, is it. They handed out some 9 million to its top executives in equity bonuses. Those bonuses range from about 300,000 to a top amount of 3 million. This just a couple of weeks after they announced close to 4,000 job cuts and the closure of at least 125 stores. Macys itself says well, you know what, these executives would normally get these bonuses at the end of march but the board delayed them for three to four months so they just received them but its part of their compensation. But again, stu, the optics of this as macys was struggling anyway before the pandemic, has really been hit hard like so many, and now we are seeing these 9 million worth of bonuses handed out to the top dogs. Stuart its the optics. Its the p. R. Its the way it looks. Not always good. Thanks, ash. Look at this. We have only got an eightpoint gain for the dow industrials. Futures indicated a gain of maybe 100 points. We did not get that this friday morning. We are up just 13 right now. 26,700. The tenyear treasury yield, we check it for you every single day at this time. Right nows the. 61 . Been in that range for some time. Gold still at 1800 an ounce. Bitcoin, we dont check that all the time. Maybe we should. Bitcoin is now up 40 bucks, 9,185. Oil, there you have it. 40 per barrel. Okay. One more time, the dow industrials are only up 26 points. We were expecting a lot more than that. Next case, stockx, the kwli online reseller specializing in the hottest sneakers and streetwear. We are going to call this company a pandemic winner with sales worth over 2. 5 billion. The ceo is on the show joining me in the next hour. Attorney general bill barr calling out hollywood with this scathing remark. Roll tape. Chinese government censors dont need to say a word because hollywood is doing their work for them. This is a massive propaganda coup for the Chinese Communist party. Stuart strong words from the attorney general and hes also blasting big tech for their ties with china. More on that coming up for you. Theres a new test that measures a patients blood and determines immediately if that patient needs a ventilator. The man behind it joins me next to explain how it works. Keep it here. This is varney company. Stuart daxor is a company that makes medical devices and they just unveiled a new test that measures with 100 accuracy a virus patients blood volume. It determines immediately if that patient needs a ventilator. The president and ceo joins us now. First off, michael, first off, what does the virus do to your blood . Can you tell me . So since the introduction of our tests, intensive care doctors have been using it. Its an fda cleared test. Its actually existed for a few years now and has been used in a number of other areas. What it does is it determines exactly how much blood volume and also the capillary wall status of the patient. Now, this virus seems to attack the endothelial cells, the cells in the blood vessels themselves, and it affects the volume of the patients. Thats why these patients need fluids, resuscitation and ventilators. The problem is, physicians dont know precisely how much fluid to give them and that can be the difference between life and death, quite simply. Stuart your device, im going to call it a device for want of a better name, your device measures blood volume 100 accurately. Does it therefore save lives . So our test which does measure, i wish it were 100 , its only 98 accurate but i think thats more than Accurate Enough for the care team, it does save lives. Its been shown actually in a past randomized control trial in the icu world for patients with acute respiratory distress syndrome which is very similar to what people with covid are essentially suffering from. Its been shown to reduce mortality by 66 . Thats because it allows for individualized precision fluid treatment of the patients. This is really about giving the doctors enough time for the patients to fight off this virus, to perfuse their tissues. You need the right amount of blood volume and this diagnostic test which takes approximately one hour to complete will tell physicians exactly the volume status of the patients. Without it, they are kind of flying in the dark. Stuart what youre telling me is that we are getting as a society our private Enterprise Society is getting much better at treating and caring for covid patients. So my next question is, are hospitals buying your device . Yeah, so its been very exciting. Since the inception of our product, over 45,000 patients have been clinically assessed using our device. They are not all covid patients, of course. Also, the department of defense since the covid crisis broke gave us a 1. 1 million order to develop their device specifically for their use. So we are seeing utilization for covid but also, theres a lot of utility for our test in the areas of Heart Failure and general icu use in general. So beyond covid, our device and our diagnostic test has a life and a utility for many years to come. Stuart beyond your device, just give me the big picture for a second, am i right in saying that the number of people who survive a covid incident is much higher now than it was a few months ago . Is that accurate . I think thats an accurate statement to say in the following way. The initial phase of dealing with covid, a lot of people said lets get an antiviral drug in place. What we have actually found is there isnt a simple antidote to covid but care teams in the icu are figuring out how to manage these patients better. They are figuring out better ventilator settings, figuring out how to prone the patient, and blood volume analysis is a continuation of that. As a matter of fact, the most recent drug from the icu world is a steroid to reduce inflammation. Our test provides unique diagnostic capabilities. Thats why a multicenter randomized control trial has been initiated by nyu langone, one of the worlds leading Hospital Systems and by one of the worlds most important intensive care researchers. So we are very excited that hes leading the effort and we are going to have other hospitals join to collect data and come up with a precise way to utilize the diagnostics and to show exactly how much is saving lives. Stuart good to hear. Good to hear. Daxor. Thanks sgroirng for joining us. Appreciate it. The pandemic has really changed the way we dine and drink. Thats kind of obvious. We will have a live report on the togo cocktails craze. They are trying to help restaurants and businesses across the country. Got an update on that for you. The fbi is now leading the investigation into just who is behind the twitter hack. There is talk about someone on the inside, an insider, named kirk. An inside job, maybe. We will get into it next. What im worried about is that if youre not expecting the shock, and the markets fall dramatically, you might panic. And in the midst of that panic, you might sell and run to cash. At the very moment, you shouldnt. At the very moment prices. 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 gimme two minutes. Oothies. Eligible for medicare. And ill tell you some important things to know about medicare. First, it doesnt pay for everything. Say this pizza. [mmm pizza. ] is your part b medical expenses. This much about 80 percent. Medicare will pay for. Whats left. This slice here. Well. Thats on you. And thats where an aarp Medicare Supplement insurance plan, insured by Unitedhealthcare Insurance Company comes in. This type of plan helps pay some of what medicare doesnt. And these are the only plans to carry the aarp endorsement. 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A Medicare Supplement plan helps pay some of what medicare doesnt. You know, the pizza slice. It allows you to choose any doctor, who accepts medicare patients. And these are the only plans of their kind endorsed by aarp. Whew call unitedhealthcare today and ask for this free decision guide. Stuart attorney general bill barr going after google, apple and microsoft. Susan, what did they allegedly do . Susan not new, but attorney general bill barr says Silicon Valley tech giants are all too willing to cooperate with china. Speaking of michigan, we heard from a. G. Barr saying that over the years, corporations like google, microsoft, yahoo and apple have shown themselves all too willing, he says, to cooperate and collaborate with the ccp. It was a wideranging speech, most of it on china. It accuses the worlds second largest economy of waging what he calls an economic blitzkrieg against the u. S. In a bid for global dominance but we know a. G. Barr has had big tech in his sights. His office is likely to file an antitrust case against google by the end of this summer, according to numerous reports. A. G. Barr also wants to repeal the Legal Protections that Tech Companies enjoy from being sued over user content and hes also tried to force apple to create a back door access into their operating system for the doj so we know Silicon Valley is definitely on the minds of a. G. Barr. Stuart thats interesting. I thought there was going to be a bounce for big tech, specifically apple, google and microsoft, this morning but it did not happen. I suspect a. G. Barr has something to do with that failure to bounce back. What do you think, susan . Susan i think also, the higher coronavirus cases and this stalling in the reopening probably stalling some of these big tech growth names as well. Stuart got it. Thanks very much, susan. Lets get to the twitter hack. The fbi is investigating. They want to know who exactly breached those high profile accounts. The hacker, this may be an inside job. We are hearing the name kirk being bandied around. We need an expert. Weve got one. Bring in cybersecurity guy, oz sul tan back with us this morning. Oz, what do you know about this . You know about this entire field here. Was it an inside job and who is kirk . Well, this could be one of three different things. It could have been a social engineering attack, which is someone actually talked to some twitter insiders and were able to manipulate access. What we do know is that there was a twitter administrative tool that gives some indication they may have been using this to shadow ban people. But the bigger issue that you have is that this has been in a couple different hack boards that are out there. Theres ongoing investigations that are coordinated on it. But kirk got access, was able to change thousands of emails and access marquee accounts including former president barack obama, joe biden, even apple. Stuart what can you do about if it was an inside job, how do you protect against that . How do we know that what we just saw wasnt a test run for a big, much bigger hack still to come, maybe connected to the election . I think the bigger question is think about the fact they have access to all the private messaging of every single one of these accounts. There was only about 188,000 worth of bitcoin that was stolen and they used the same address for pretty much every single tweet. So the question really becomes was this a widespread Data Collection scheme. What information we are able to pull from private messages from these accounts, and what are secondary or tertiary ramifications we will see from this. Stuart could it be blackmail . If maybe thats what theyre after . Youve got a lot of information on several thousand corporate accounts, including a lot of personalities thats now somewhere out in the ether. As we reported on your show a couple times before, with the previous facebook hacks and literally treasure troves of data being offered on the dark net, we have a potential for this but whats more concerning is as you have said, is that they havent fully finished the investigation and twitter is saying they are cooperating. But if this was internal, its not just a breach of trust and a breach of security, but its more indicative of why you have moves and shifts to platforms like parler in the past few weeks with people saying this isnt trustworthy. Stuart entirely understandable. Oz sultan, good stuff. Thanks very much for joining us. Appreciate it. Thanks. Ive got a story about microsoft which i can hardly believe. They are cutting jobs. Hey, ash, they are cutting jobs . Ashley yeah. Stuart where theyve got, what, 100 billion odd in cash, and the stocks real strong . Whats going on . Ashley well, they are not saying exactly how many, where those jobs are being cut or any of the locations, or departments. But this is a story in Business Insider that says just under 1,000 jobs have been eliminated by microsoft, which is a good question, why. Well, the report claims they came from the department msn. Com and also in the azure cloud division. All that microsoft will say is that this is not unusual going into a new fiscal year which began july 1st. They kind of reevaluate where they are, where they want to put more resources, where they want to take some resources away, so theyre not really saying this is true but theyre not denying it either. But it does seem strange, does it not, that microsoft just goes from strength to strength and we are talking about job cuts but hey, its their business. They are figuring it out. Stuart thats right. The stock is only down a fraction this morning. Thanks, ash. Ashley yeah. Stuart next one, tik tok deleting thousands of videos in europe. Lauren, make me care about this, because right now, i dont care. Fill me in. Lauren okay. Look, its a small number, 29,000 coronavirus videos in europe were deleted for breaking the rules, for spreading misinformation about the virus and that could harm someones health. So tik tok added a coronavirus information banner to posts that are related to covid. Look, this shows some action on the part of tik tok to fight disinformation but 29,000 is a very low number, considering the tens of millions of videos that are uploaded to the app daily, and just think about it, with the u. S. Election in november, tik tok is under increasing pressure to Better Police its site and its owned by a chinese company. There is very little trust. So they made a small action in europe by deleting those videos. I can say they deleted 49 million videos here in the u. S. In the second half of last year, but all in, we are talking less than 1 of total uploads are removed for violating policy. Stuart im not going to look into the camera and say whether i care or not. But that was a very good report, lauren. Thank you very much indeed. Really. Still to come, yeah, its friday. Tammy bruce on what im calling mob rule. Steve hilton on what basically the second lockdown, which is happening in california. And trump 2020 Senior Adviser Mercedes Schlapp. The clock ticking towards the election and the president is way down in the polls. Look at that. That is sixth avenue, new york city, right now. Empty. Not supposed to be like that. I will tell you whats really going on in this city, in my take, next. 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. Stuart 10 00 oclock in new york city, 30 minutes into the trading session, not that Much Movement and stock prices, we have positive news on a vaccine, hopefully by the end of the year, that is offsetting the sharp rise in the number of new cases that we are seeing here in america. The dow at the moment is up 23 points. Just after 10 00 oclock, that means we have the numbers on the university of Michigan Consumer sentiment, thats important because it looks into the future. What do you have ash. Ashley 73point to, up luminary number for july, this could get changed up or down by the end of the month but the perimeter rereading, 73point to, what we were helping. 79 but the final number for june was 78. 1, in and you compare that back in february before we knew much about the coronavirus, the reading was 101. We have a long way to go back and this represents a fallback on consumer sentiment. Stuart confidence is slipping a little from where was last month and show me at the beginning of the year. That report has had no impact on the market, not that much that i can see, were still unfairly for the dow industrials. Now this. It is midmorning in new york city, friday july the 17th, let me show you what the heart of americas biggest city looks like right now, lefthand side of your screen, sixth avenue, midtown manhattan, hardly any traffic at all, hardly any people, deserted, this is because of the virus and because the mob rule, hundreds of thousands of Office Workers who should be jamming sixth avenue are living in fear of the commute and fear of coming into the city or being shot or mugged in the city. The police are beaten in the streets without consequence. The man who beat a top Police Official was released without bail. Thousands of criminals have been released from the prisons, listen to what bill de blasio is saying about that. Roll it. We now have fewer people in our jails then any time since world war ii. We are safer for him better for it. Stuart he left the criminals out and were all safer because of that . Q the eye roll please. Next, i want to be around the bush about this, marble combined with a virus shutdown will set back American Cities for years and years. This should be an issue in the president ial election, the violent cities are run by democrats in joe biden is doing absolutely nothing to restore order, his aides insist he would not defend the police but he told the questioner yesterday he would redirect police funding. That is taking money away from law enforcement. Obviously. Portland, oregon is a classic example of the local democrats versus republican class. The feds offered to help and the seven week long violence in portland. The democrat said no, you feds stay inside your building and clean up the graffiti while youre at it. Last night there was a predictable right. Portland joins new york, seattle, minneapolis, atlanta, chicago, los angeles. They are all in deep trouble, this affects us all, not just the citydwellers, it affects us all, these are population centers, centers of economic activity. Tough to getting america going again at the mob in the virus hold back her cities. Apart from which, arent you fed up with the dismal performance of the virtual silence of joe biden. There it is, sixth avenue, new york city, still deserted, still there, show it again. Can you get that shot up again. That is new york city, sixth avenue, 1004 eastern time on a friday morning, deserted, that is the decline of a great city because of marble in the virus. This is the second hour of varney and were just getting started. Stuart there she is. Tammy bruce, are you going to call me down or further me up some more. Youre in new york city dwellers, at least i think you still are. They should be an election issue. It should be and frankly i think it is, americans have noticed whats going on, we dont like mob violence, Young Democrats and republicans and other peasant people in portland and seattle and los angeles and americans tend to be quiet. When we see the small percentage of people destroying cities, and repulses us. We are going to have perhaps our statement and our ryan on november 3 but the fact is, when you saying great motto along because joe biden has been silent, that has been an acquiescence, its not a coincidence that these are democrat mayors doing this, new york, it is recognize that we have come out of this thing and yet because it does have an impact on the economy, new york and los angeles, i believe part of this is depressing the people in general and making it seem that the nation is out of control, we are not and it really comes down to it again, mob violence in the cancel culture, that is the mob violence and riots in the virtual world. You see them coming together and it makes sense that they would. Stuart im going to digress for a second, President Trump and ivanka coming out in support of gloria the company, after that company got backlash for supporting the president. Listen to the backlash that he got from the mainstream media. Roll that take place. Theres widespread calls to boycott goi after the co praised trump, but the president claims the company is doing great, another president and ivanka are displaying these products like they are game show prizes. What is up with that. It is so bizarre. Has ivanka ever bought a can of goya beings, who would ever think that princess ivanka whatever by beings. Is a law where people cannot use their platform or their job, the governor paid jobs to help any sort of brand or any company. It is a law. Stuart that is hysterical really. It exposes to less mob mentali mentality. It does, that was a gaggle of mean girls. These are just jealous, they are dripping with envy and you can see they dont like it. This is important for conservatives to realize, part of the marketplace is about supporting or not supporting with your dollar company, the goya ceo was not just praising the president , he announced tons of food of a donation to food banks around the country to help people regarding who had been impacted by the coronavirus in the current economy. He made the announcement at the white house and had worked with barack obama, this is a company that is the largest hispanic owned company in america, 4000 employees worldwide and the only people being hurt by this, he dared to say that the president should be praised for, was his builder father and it was very nice normal thing to say. It is about a rational response, we see it every day and americans dont like to put the attempt to bring down goya, its just like the burning down of brickandmortar stores that we see in the riots, its an overwhelming desire to destroy, it is something that americans reject and this is what the founders realized that it was important to have elections every couple of years and that the American People can respond to this kind of thing through the system that we know and love. Stuart you did not call me down even though youre smiling, you fired me up all over again. We should be fired up. Stuart thank you. Im going to put three stocks, zoom, tesla and spotify. It is not so much tax and today im looking at, im looking at the action in the three stocks over recent weeks. All of them have gone straight up, i think the little guy have been piling into the stocks almost like the little guy is day trading, let me bring in market Jonathan Hoenig. When i get into a taxicab in new york city and im discussing stock picks with the taxi driver or in the Grocery Store and the cashier is talking to me if she should buy tesla or not, that gets me worried. That is a cell signal isnt it . Nothing against taxi drivers or cashiers but it is a historical trend in the little guy historically the least investor gets on board with the big growth stocks, the real move in the real money has already been made. You dont have to be a stock market expert to know that these names you mention, tesla, zoom, spotify are not just expensive, their eyepopping, the market trades at about 20 times earning and tesla trades at 1200 times earning. That is. Com level or more evaluation. I am not a fundamentalist by trade but the very important study on average when stocks are this high and evaluations are this expensive, the market tends to be lower 12 months on, its a very expensive time to be trading and chasing. Stuart i think youre right, it just gets me worried. Im going to shift gears for second, im going to deal netflix. I want you to listen to what douglas told us on this program a few minutes ago. Roll tape on netflix. They had a really strong and now theyre forecasting that subscriber growth will not be as strong but i think longterm that the temporary blimp, all the trends are very positive for netflix. Stuart all the trends are positive for netflix and he would buy it but i suspect that Jonathan Hoenig would not. The thing that you have to remember, there is a difference between a stock in a company. The longterm trend for netflix in the entire industry are good but it doesnt mean the stock which is also extraordinarily expensive, trade them for hundred times earning, youre not getting a bargain. I looked through the historical presence, like cisco and intel, those were the big winners of the 90s bull market, the company did not go out of business but the stocks were dormant for a decade in cisco is still not backward was in the early 2000. I dont think netflix is going away but by nag current levels is paying too much for company that is probably going to be dead money for a few years. Stuart why did you not tell me too buy boeing a couple of months ago when i lost my shirt. Too late now. Its all about sugar could a wood and keeping your expenses down in the risk for the longterm. Stuart you win some, you lose some. Thank you very much indeed. See you soon. We got breaking news from the main Street Lending facility adding two new loans Edward Lawrence joins us, were talking about the government providing these main Street Lending money. The federal reserve, what they did, they expanded the amount of businesses and nonprofit that can access the main Street Lending reserve, nonprofit is what this deals with. They lowered the requirement from 50 employees down to ten employees and got rid of the donation base funding requirement and eased other financial criteria, what it does is it opens up to more nonprofits, were talking about nonprofit hospitals in rural areas that might not have 50 employees, nonprofit schools, charter schools, private schools in the smaller communities that may not have 50 employees or the requirements were needed. That was the goal, Steven Mnuchin just came out saying he applauds the move, it does not change the longterm, it will still be a minimum of 250,000 and a maximum of 10 million paid over five years, it widens a pool of what nonprofit can get this. Stuart thank you very much. Complicated stuff. Explained it rather well. The president promising to rollback outdated regulations. I want to know what regulations can be eliminated to fight the virus. Im asking wilbur ross that, later this hour. Facebook will stop labeling content that they believe misleads voters. Is this really what facebook should be doing . I will put it to one of facebooks cofounders in our next hour. President trump trading joe biden with a black coat, new process only 6 of africanamericans will vote for mr. Trump despite record low and employment in his administration. How is he going to turn that around, we will discuss that on this program today. Alexandria ocasiocortez urging new york governor to back a billionaires tax trade we will tell you all about it as the second hour of varney rolls on. Is more important sthan ever. Rp wheres my tablet . You have to remember 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. 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Call now and get your free infokit stuart bars and restaurants in new york city are taken another hit, Governor Cuomo is banning to go alcohol sales, number of bars cited for violating socially distancing. Patrons you want booze, have to be seated and ordered food as well, if you want to drink alcohol thats what you have to do and if you dont and for social distancing and you get caught three times, you are shut down, that is dramatic. Next congresswoman alexandria ocasiocortez urging new york governor to back a billionaires tax. That should drive them out of the city, what is this all about . She is pushing Governor Cuomo to back the tax on billionaires which would be an income tax on their unrealized capital gain, meaning it taxes the appreciation of your Holdings Even if you dont sell them, the revenue from it would be help to use new yorkers hit by the coronavirus. Think of them who are not eligible for stimulus checks paying them up to 3300 a month, new york has 119 billionaires, 119, they pay half of new york Tax Liability already. If you stock more bills, do you think theyll endure the constant criticism and the violence. Is absolutely ridiculous. If you bought a stock for hundred bucks a share and now its worth 200 a share, even though you have not sold it and not taking your profit, the governor or aoc is going to take a piece of the profit which you have not yet seen and they will do every single year. Have i got that right . Stuart precisely. That is the plan, aoc and members of the Progressive Left are pushing andrew cuomo to do that but Governor Cuomo is saying i know that you know kurt are going to leave, he is calling on the federal government to do something about it. Did you know the immigrant workers lined up, slept outside of jeff bezos apartment on fifth avenue because they are saying we are hurting from this pandemic, we want new york billionaires, the richest man in the world to help us out. Stuart okay, watch them leave the sinking ship, that is whats happening the state of georgia reporting 3400 new virus cases thursday, everyone is being urged to wear a mask and the mayor of atlanta says you have to wear a mask. Susan, what is the governor saying about that. Susan just in the last hour you heard from the governor need not pull back, not exactly a reversal but he urged all georgians to wear a mask for at least four weeks asking local leaders to enforce safe executive orders instead of mandating the wearing of masks themselves and blaming the antipolice protests for the spike in coronavirus cases in the state, Governor Kemp is suing the city of atlanta over the mask mandate which he says goes against state orders and state laws, this is a headtohead with atlantas mayor who you are just referencing, she was on the today show and accusing him of playing politics saying hes only suing after President Trump atlanta visit this week which the mayor says show the present violating city mandate to wear a mask, one thing you mentioned georgia reported almost 4000 new cases almost 2800 people hospitalized which is a Record Number in a total of 37 deaths, thats the highest number of deaths so far this month. Stuart its a mask fight. Susan its a politics fight too, who has the power to mandate the wearing a mask, the city, the county or the governor . Stuart what is the penalty for not wearing a mask, how do you police that, good question. But theres no question that the regulatory rules that say wear a mask, that is spreading and Retail Operation throughout the state as well. You can see it coming. The latest poll from the wall street journal and nbc news shows 80 of africanamerican voters way to go for joe biden, 6 would go for mr. Trump. Look whos here mr. Jackson the founder and ceo of impact network. Welcome to the program, very good to see you, you shouldve been on her years ago, where have you been. [laughter] i wish you hadnt even invited me years ago but were celebrating our tenth year of the only africanamerican faithbased Television Network before it came there was no africanamerican christian television, now were celebrating ten years of serving our community. Stuart you reached millions of people, i know you do that. Can you explain why is it that President Trump in this pool gets only 6 of the black vote when hes the president who is introduced record low unemployment and income gains for africanamericans, can you claim this . Let me say this, we live right now in a situation where africanamericans in my opinion are very disenchanted with the political structure, weve been given promises down for decades, not just now but decades and have not been fulfilled, the disenchanted, and what youre looking at, social and justice when it comes to the criminal system and were finding out that there is a big gap there and for whoever is going to be the next president , they are going to have to take and address these issues, economic, educational issues, health issues, all these things are very dear to africanamerican community. Stuart let me jump in for one second, do you believe that President Trump is the right man to elect in november . For the black community . I dont want to get my opinion on that, i believe whoever is going to take and do what they need to do and keep the promises that they have made when they were on the campaign trail, they are going to be the ones that will fit the africanamerican community. Stuart okay, we welcome you on the show, come back again soon, the impact network. I think you sir, i appreciate it. 109 days until the election, and new poles show 50 strongly disapprove of the president. They say they will not vote for him, 50 , im asking trump 2020 campaign how they plan to turn that around. But first im going to ask commerce secretary wilbur ross about a variety of things including the report of clash between larry kudlow and Steven Mnuchin. Fox business reporting the showdown was about the next round of stimulus. Ill be asking about that next. Stuart where are we now, friday morning, were about an hour into the session and i see red ink down for the dow jones and s p and down for the nasdaq, 43point low or for the nasdaq. Look at the cruise lines, the cdc, they have extended the no sale order through september, that means no ceilings at all until october and can you imagine, you have the cruise lines on the way down, we are on the subject to travel stocks, look at the major airlines, all of them on the downside today, look at the travel booking stocks, theyre all over the place all the time and today theyre all down and then we have the hotel stocks, all of them on the downside. The bottom line here, were extending into the future, the time where we can get back to normal travel and down go all the traveled related stuff. Uber announcing a commitment of 10 billion in the next two years to advance the success of black owned Small Businesses, over plans to double black leadership within the company by 2025 and also the no fee for delivery from black owned restaurants. Uber is down a fraction on that. Lift is giving drivers partition shields, are they a bit late to the game. Susan possibly but not many people were leaving their home and taking lyft during pandemic hike. It is been done as much as 80 during the pandemic but its coming back slowly, its been a full recovery but the partitions are not free, this is going to sell them for 50 at cost saying 60000 shields were initially go to the active drivers and lift and uber have required both drivers and writers to wear masks providing hansen a taser and clorox wipes, the cdc has recommended the installation of the partition between drivers and passengers but lyft says is a cheaper option and i did a Google Search for these partitions and they range from 50 to 100 and not all that much cheaper but more convenient and helps keep everybody safe. Stuart i hear you, thank you so much. President trump pushing the success for his successful efforts to cut red tape, this is a big deal. Listen to this. For everyone new regulation added, nearly eight federal regulations have been terminated. We have removed the gigantic Regulatory Burden of americans that have been forced to carry for decades, bringing our citizens to reach their highest potential, our historic regulatory relief is providing average American Household an extra 3100 every single year, we are going up from that number. Stuart i want to hear more about this, lets bring in the gentleman on the righthand side wilbur ross the commerce secretary. It is very good to see you. And vizio. Stuart i get the feeling in america, you cannot do anything, you cannot build anything, you cant build a bridge or a road, the greens will always stop you, what is the president going to do about this, you cant do anything without degrading the environment. That is really not true, the reality is that theres a tremendous duplication between the state regulations in the federal. What we can control is the federal part and we believe that has been cut from ten or more years down to about two years, what is been happening is with the mass of federal regulation on top of state, everything was done sequentially so they would not start on this until a prior regulator had approved something else. That is crazy, thats what delays it, every time there is a Decision Point to make, that creates another potential for litigation and its really the litigation that has been driving things. We were to come from 10 to and were trying to work with the state to modernize and simplify their rules and make them less discordant from federal. Stuart if the president loses in november, all of what youve done will be reversed i think, is accurate . The green people certainly dont like the things that we have done and they are simply wrong, as you mentioned a moment ago for everyone regulation that is put in, weve cut eight government lives, the commerce has cut 41 regulations for each one knew when we have put in. There is still more to go, this took a while to dig out all these regulations and figure out how to get them redone, there is a lot of room if we win again which i believe we will, there is a lot more room for the regulation and that the objective we should have. Another one fox business, here at fox business weve been reporting a clash between treasury secretary mnuchin and Economic Advisor recover lot over what should and should not be included in the next stimulus. But we just got this from secretary treasury secretary mnuchin. He just tweeted this, larry kudlow and i have been good friends and colleagues for years and work closely together. The idea that we are in a civil war is truly absurd. Mr. Secretary, wilbur ross, do you want this course is completely. Yes. First of all the important thing is both larry and secretary mnuchin, agree that we need to do more the exact details, what form and how it goes, much less important than the agreement that we must do more because a lot of things are coming to an end. The 600 supplemental unemployment for example is about to end. We need to do something to replace that and i think it is a finetuning detail, whether its tax cuts for direct paycheck to people, the important thing is president knows we need more stimulus, he is going to work very hard to achieve more stimulus to get the economy back to where it was, back to his great successes precoronavirus. Stuart wilbur ross, thank you very much for being with us this morning. We appreciated always. People are blaming republican Governor Desantis for virus jump in florida. What about governor gavin newsom, cases in california are surging to, why does mr. Newsom appear to get a free pass . Ill put the question to steve hilton in the next panel. We said it before on the show, i see real green shoes, i see a real estate boom, the 30 year fixed Rate Mortgage is below 3 . We have a real estate guy on the show coming up, are we in a boom or not, i want to know, we will find out after this. 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 where are we now at 10 42 a. M. Eastern time, were down acrosstheboard, the dow is down, the s p, and the nasdaq down. Not a huge selloff but it is something of a selloff this friday. What i think is a contradiction, there is an exodus of people leaving, getting out of new york for all kinds of reasons, however, new york apartment buildings are popping up all around the city, that is interesting. Christina is right in the middle of this, how is the city going to feel the new apartments . Excellent question, i will touch upon and you can see construction is in full force, who is going to rent out all this property, people working from home or fleeing the city because of covid. But some smaller businesses as well as landlords have concerns that buildings will remain empty after the completion because of the experts. Facebook isnt looking to expand the footprint and the big question is why take on more space, facebook knows more of its employees will work remotely in the future and i worked from one Industry Insider who says countries feel safer in newer buildings. Listen to this. I think companies are going to say and want to be in the building to the best infrastructure, best air quality and best health and wellness for my employees in the newer buildings or newer railing rated buildings will help perform. They are hoping the same exact theory can be applied to residential property, maybe families will move them because they want larger elevators, better air Filtration Systems but the theory is starting to show some cracks. They released a report saying the vacancy rate hit a record in manhattan at 3. 67 , double of what we had last year end the record in the past 14 years. So you have kobe cases that are continuing to increase, the pan pandemic may last a little bit longer and that means major headaches for builders and agents across the city. Thank you. Thank you very much indeed. We did get the latest read on housing stocks earlier this morning, up 17 , thats a big number. June Housing Starts on 1. 86 million units. Lets bring in mike, a realtor with compass realty. Welcome back to the show, good to see you. You as well. Stuart i have a very hard time kneeling down the state of the Real Estate Market. Because of course it depends on location, location location. But overall in the United States, can you tell me this is indeed a real estate singlefamily home boom . I think the data is clear on this, i have been waiting for the data that is coming out right now, basically what were looking at his stuff from june, were looking back one month, based on housing going up 17. 3 , that means the low that we had in april and may has now gone away and gone up. What were continuing to see, we have low inventory and high demand. Mortgage rates that are extremely aggressive, this is the housing boom. Stuart thats what happens with Live Television sometimes. Freeze. Hes back, are you back, are you there . Im here can you hear me. Let me go back, i want to finalize this, the rate on the 30 year fixedRate Mortgage is now 2. 98 . Thats as low as ive ever seen it, am i right in saying to get that rate you have got to put 20 down and its gotta be a conforming loan and are you going to have all your paperwork just perfectly in order from the bank. You dont have to jump through hoops but it aint easy. F12 a credit, you will only see people only overset important getting aggressive rates like that but listen for people who are doing arms, theyre getting more aggressive rates in otay what else, if you start looking at the desperation between where the ten year yield is and where Mortgage Rates are, there is room to run. I think we may see 2. 7 on 30 year fixed conforming loans before the thing is said and done. Stuart 2. 7 . Weve often said on this program that is extraordinary when you go back to the 80s or the 70s. It is a long running theme, when i got my First Mortgage in the 70s i paid 12. 5 and thought i was lucky to get it. It would be a long time before we see those days again i suspect, am i right . I think so. It will be a long time before we see that. I think there really are some legs on this and i know you say i try to come on and sell my book, listen to me, this is no longer me selling the book, i think real estate is going to be the shot in the arm our economy needs, there is room to run and i think we have tailwinds behind us and provided that we dont get into a big second wave of covid i think we will see great impact. Stuart mike aubrey, thank you for joining us, good stuff indeed. We are going to go to hollywood now, to big items, im not sure what items are too big items from top gun and vertigo are going up for auction, tell me more. Ashley indeed, i know you be interested for this one, the helmet worn by maverick mitchell in the First Top Gun movie is up for auction and expected to go between 50 70000, maybe more in the camera that was used, you can see it in action, the camera used for the hitchcock movie vertigo up for auction, that is expected to fetch between 50 70000. I thought more but anyways this movie prop auction, nearly 900 items for more than 350 films, there is vertigo another classic. Could generate close to 6 million or more in proceeds, they do this every so often and people love the props, props, costumes, production material, you name it will be on august the 26 and 27, online, there are no in person these days as you know streamed online and a bit by phone. Stuart ashley, admit it before we leave, you are shocked to get to see 50000 for maverick mixed helmet, that is ridiculous. Ashley theres someone out there that really want to i guarantee it. Stuart i would not give you ten bucks but thats another story. Thank you. Im just cheap. The bar slamming hollywood for doing the count down to china. Roll latte. Hollywood sensors all movies to appease the Chinese Communist party, the worlds most powerful violator of human rights. Stuart steve hilton has something to say about that coming up in the next hour. This was news that theres a big buck to be made selling for oneofakind sneakers, one company sold a ton of these things during the condemning. The ceo of the company is on the show and he is up next. Experience the adventure of a bigger world in a highly capable lexus suv. At the golden opportunity sales event. Get zero percent financing on all 2020 lexus models. Experience amazing at your lexus dealer. On all 2020 lexus models. Apps except work. Rywhere. Why is that . Is it because people love filling out forms . Maybe they like checking with their supervisor to see how much Vacation Time they have. Or sending corporate their expense reports. Ill let you in on a little secret. They dont. By empowering employees to manage their own tasks, paycom frees you to focus on the business of business. To learn more, visit paycom. Com 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 the Company Called stock x, an online marketplace and a popular sneaker retailer. Whatever that is, in the last six months the company has recorded doubledigit sales growth worth two and half billion dollars. It sounds like a lot of money to me. Joining us is got cutler, the ceo of stock x. Wait a minute, are you telling me you have sold two and a half billion dollars worth of sneakers in the last couple of months . Really. We certainly have, over 10 million trades of sneakers just in the last 12 months, weve experienced accelerating momentum coming through the momentum and it may surprise you that the number on upper income gyms he consumers. An increasingly female consumer and International Consumer business and 190 countries and territories around the world. Stuart hold on a second, there are some people who go out and buy brandnew oneofakind sneaker, sneaker in very short supply, big name celebrity kind of sneaker. And then you sell them online, is that right, you make a market in specialized sneakers, is that what you do . We do make a market, we have many sellers that will acquire sneakers and Retail Locations and resell them on the platform but increasingly more and more consumers are coming to stockx to start their shopping journey because many things are not acceptable in a retail environment and not acceptable to consumers around the world because we operated the marketplace which is powered by the sellers, we provide access to consumers, and otherwise we cant find this product anywhere in his apparel and a broad category. Stuart it is not just sneakers. I think i owe you and our producers an apology because i cannot believe to have billion dollars worth of sneakers. Is the largest category, the majority is sneakers. Stuart i am still surprised. Stock entrance got cutler thank you for joining us. Cut red tape and say the American Families thousands of dollars invited wants to tax, tax, tax paid my take on that coming up. 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. Now is the time for a new bath from bath fitter. Every bath fitter bath is installed quickly, safely, and beautifully, with a lifetime warranty. Go from old to new. From worn to wow. The beautiful bath youve always wanted, done right, installed by one expert technician, all in one day. Weve been creating moments like these for 35 years, and were here to help you get started. Book your free virtual or inhome Design Consultation today. Robinwithout the commission fees. So, you can start investing today wherever you are even hanging with your dog. So, what are you waiting for . Download now and get your first stock on us. Robinhood. Stuart yes it is 11 00 here in new york city, the markets saw really a mixed picture at the moment. We are now just down 14 points on the dow, down 6 on the nasdac up 2 on the s p. Ill call that a mixed market this friday morning. Breaking earlier, we learned that the u. S. Recorded a record breaking 77, 255 new virus cases on thursday. Bad news on viruses, nearly half of all those cases came from texas and florida. And now this. Remember the New York Times columnist paul krugman on the night that donald trump became president . Under the headline the economic fallout, he said the stock market would never recover, and there be a global recession with no end in sight. Well that was a landmark in bad forecasting. The stock market rallied big time and the economy showed best performance in years. I wouldnt want to repeat professor krugmans mistake but i will say this. If joe biden wins in november, oh, look out below. In short, investors face election risk with the president down in the polls i think its already a factor on the market. Of course it is. Joe biden would completely reversal the policies that President Trump used to fire up the economy, and theres no way thats good for the market. Income taxes, estate taxes, Capital Gains taxes, they all go up with joe biden. Corporate taxes go way up. All that red tape that the president cut it would come right back to tie businesses in knots and americas vital energy dominance, well forget about it. No oil, coal, or even natural gas and joes green new world. Theres another worry. Election day chaos. Widespread use of mailin ballots means no firm result on the night of november 3. You cant count those ballots fast enough, and any delay will create numerous challenges. It might be the hanging days of gore. Lets get into this with eyes wide open. Your money is at stake here when it comes to policy, the president is running on growth and prosperity, joe biden is running on tax and spend and regulate. Thats the election risk that investors are staring at with the election 109 days away. Weve got some stocks in the news and im going to give you their stock prices. First of all, macys, theres some outrage surrounding that company. They paid out 9 million in bonuses to executives just weeks after announcing thousands of job cuts, the stock is virtually unchanged its down 0. 08 at 6 a share. Uber sued by a rival Grocery Delivery Service instacart and instacart says uber has been stealing their grocery catalogs and intellectual property and uber is down just. 8 at 32 a share on uber and meanwhile lyft are going to provide custommade partitions to their most active drivers thats 60,000 of them, as to fight against the virus of course and theyll also be selling them for 50 each to other drivers lyft is now down just 0. 09. Check those cruise lines, theyre not looking good. No theyre all on the downside more bad news for cruising, lauren tell me. Lauren cdc extending the no sail order which expires next week through september 30 so no passenger cruises can set sail until october, unless, and its very likely, that that order is extended for the fourth time. The cdc says the virus can spread easily on ships and as of this month, there are still ships stuck at sea dealing with outbreaks. Suntrust is less optimistic about all of this. One of their analysts says he doesnt expect sailing to resume until the second half of next year, so again, pushing back our expectations for that returnto normal. Stuart thats a very good point pushing back expectations, and ashley, you come into this , please, because i think with pushing back expectations for the Airline Industry too. What do you got . Ashley yeah, its pretty grim reading this is from moodys investors service. They say that the airline demand in their mind will not return to previrus levels until the end of 2023. They say and only then if there is an effective vaccine, or medicines for the viewr if theres any problems in there, that date will get pushed back even more, and they say when you look at the aviation industry, manufactures like boeing and airbus and europe, theyre going to be the very last of the aviation chain to get back to those previrus levels and in the meantime they say more government help will be needed if these carriers are going to survive between now and then. Stuart earlier, ashley you told us that you nighted has a deal with their pilots but doesnt that also extend and push out, pushback the time when we get back to normal . Ashley it does, indeed. In fact theyre trying to and looking at thousands and thousands of furloughs come october 1 when the government Payroll Assistance Program runs out. Theyre offering pilots 62 years and older a retirement package trying to cut numbers in any way they can. Theyre saying pilots can also have their employees opt to reduce their hours or maybe take a furlough and just keep your health benefits, but bottom line is airlines are actually particularly reluctant to furlough pilots because it gets expensive to retrain them as that takes time and costs. They have to keep up their training because if we do suddenly get a vaccine that works they need to get those pilots back in the cockpit as soon as possible, so theres a lot of moving parts for airlines but bottom line is demand is still, you know, very very low and theyre just trying to keep as many of the staff as they can, its not easy. Stuart you need binoculars to see their return to normal or a telescope scope. Its way out in the future thanks, ash. I want to talk about the massive twitter hack. The fbi is investigating josh bu rman is with us the co founder of my space and he knows a lot about the social networking platforms. Josh, im going to be extreme for a second here. Would it be true to say am i justified in saying that the only way to keep your data is to take yourself off social media completely . Am i going too far . Yeah, i think youve gone too far, stuart, i think unfortunately, actually fortunately social media has been a great tool for us and its going to continue to grow and i think im very bullish on social media. Weve seen instagram, and of course facebook and twitter but again, hackers are going to continue to grow and target this social media so its really all about education and technology and thats what needs to happen both on the company side as well as the consumer side. Stuart but you know, this hack into twitter, we were told earlier this morning by a cybersecurity expert that the hackers got into these accounts about 130 of them and didnt just take personal information but were able to read previous tweets, whatever theyd been saying could now be published. I mean, thats a very serious thing for anybody whose a public person. It is scary, and again, it all comes down to technology and these hackers are going to get into peoples wire transfers , theyre getting into especially around an election year, its supersensitive information. We saw what happened potentially on the last election with facebook and fake news and posts and its just all about becoming aware for the consumers. Stuart theres no solution is there . I mean, theres no solution to this , you can not tell me that im safe. That is true. You dont even know youre talking to me officially so anything youve got to be really aware in the marketplace, that someones messaging something to you about charity or asking for a wire information, you have to now double check and call those folks and make sure that its an authentic source and it all comes down to i think consumers getting more and more technology. I actually for example, have life lock. They told me about the hack on twitter and i realized if i saw twitter messaging potentially it be fake so as soon as they come we have to be more vigilant and more aware of Consumers Companies do have a huge responsibility and they are investing in Companies Like crowd strike and great Data Companies about to go public and those are the type of companies i think are going to be needed but it all comes down to is education and we got to be really smart about what we read and about before we send out money, especially over i dont think stuart youre going to be sending bitcoins to anybody but the rest of the country needs to be aware that most likely its a hack. Stuart josh that was probably the best commercial for life lock that ive ever heard in my life and that was pretty good. [laughter] i just like the service. Stuart good ive gotcha. Real fast are there any big tech stocks that you like at the moment because theyvevery all been kind of depressed. Yeah, im still really bull ish on technology and pharmaceutical. Of course with this pandemic, were seeing a lot of pharmaceutical activity. Theres a private Company Called q health which i love and its working on at home diagnostics to see if you have today i like to know if im still testing negative for coronavirus and i think technologies like that are on the rise, so im really excited about investing there. I also like online education. Theres a Company Called cosera thats leading the way and this is another private company and then theres another Company Called discord which is people are at home, gaming is a huge sector i love which is Gaming Software and gaming communication so im very bullish on those as well as infrastructure stocks. And elon has a new Incredible Company spacex and he has a product called starlink which is to bring high Speed Internet to our homes and offices without relying on verizon or spectrum which those are services i dislike so im really excited about whats happening ahead with spacex. Stuart good stuff. Josh thanks for joining us again we appreciate it. See you again soon. Always good to see you stay safe. Stuart [laughter] yes, sir. Next, facebook will now add labels to posts about voting. Supposed to help identify fake news, Andrew Mccollum is with us and hes one of the cofounders of facebook. Andrew, great to have you with us but ive got a broad based general question for you here. Is it the responsibility of social media to filter the information thats coming at me . Was that the intention behind your building facebook in the first place . Well, you know, im not really involved in the daytoday decisions around this stuff and havent been for quite some time so, you know , i cant really speak to the intent behind the policies at facebook. I think that stuart look what weve got at the moment is weve got facebook and others acting as a kind of, well theyre filtering what comes at me. Theyre passing judgment on what comes at me. Theyre passing judgment on the political messages which i may or may not receive. Im not sure facebook should be set up like that. You . Yeah, i mean, i think that these platforms have enormous challenges. Theres a huge amount of information being transmitted over them every day, and to be able to try to set rules and policies that can be uniformly enforced to prevent bad behavior , but also allow connection and communication is really challenging to do. Im not sure anyone has figured it out yet. I think facebook is investing a lot of resources in trying to solve these problems but its a big challenge to try to solve. Stuart okay, josh im sorry to cut this short but ive got to break away for the breaking news but Andrew Mccollum, thanks for joining us sir we appreciate it. The pandemic is changing a lot of things including the way we drink. One chicago bar is selling to go cocktails exclusively online. Business is booming. How do you do that . Were going to take you there, explain it all and with just 109 days until the election, a new poll shows half of registered voters say theres no chance theyll vote for the president. Can you make a comeback from that . Well find out. First, attorney general bill barr slamming hollywood, accusing the filmmakers of cav ing to communist china. Steve hilton has got something to say about that and hell say it after this. 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. Save an extra 15 when you switch 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. Stuart the price of oil this morning no surprise is 40 per barrel, now lets check the price of gasoline. Its gone up but not that much. The average for a gallon of regular nationwide is 2. 20 a gallon. That is up about 0. 10 from last month but its not going up as fast as we thought it would. Its still relatively cheap and look at this. The cheapest gas in the land is mississippi where the average price for regular in that state is 1. 84 a gallon. Now, weve got news on nicola. I believe thats the electric car maker challenging tesla i guess whats the news susan . Deutsche bank says the truck startup is worth more than chrysler and yes, i dug into the numbers and currently, it is valued at 18 billion, thats actually worth a little bit more than Fiat Chrysler hovering around 17 billion and remember it has no sales, no deliveries, but they do have deposits on orders of what could be worth around 10 billion worth when the keys are actually handed over and theres a big if to that. Deutsche bank says that nikola offers investors on what they call a rare pure play because zero emission trucks especially with its hydro Hydrogen Trucks which might be attractive to fleet operators but theyre keeping a hold rating on the stock 54 a piece, the stock has rallied from five fold since its listing and as you know a favorite of the millennial trading app on robinhood along with tesla and a lot of other players as well. Stuart but that is absolutely incredible isnt it susan . Look youve got an electric car maker whose been on this show but they got no sales. No delivery. Stuart but that company is worth more than Fiat Chrysler. Well how do you i guess rationalize tesla when it has 10 of the car sales that ford and gm has but yet theyre valued more than everybody else combined. Stuart i would say that the market for nicola shares is a tad frothy. Yeah, but does it remind you of 2001 because we use the example to point to a dot co m bubble so there was no sales no revenues and just blowing out on day one. Stuart yes, some stocks active today remind me of what we were seeing in 1999 and the year 2000 very very similar. Not all stocks and certainly not big caltech but some of those outliers really extraordinary. Susan, thank you very much indeed. We should have seen this one coming. Gas is very very cheap and guess what . People are ditching compact cars and going for gas guzzlers. Have you got some numbers on this ash . Ashley i do. Its interesting for the first half of 2020, sales of sub compact cars fell 50 and now the industry overall was down 23 but do you know what . As usa today put it compact cars are headed to the compactor. Americans dont care about fuel efficiency and affordability. They have a love affair with suv s and they just dont want to have to squeeze into a small car and just the trend has shown this for many years. You know, gm Just Announced its doing away with the production of its chevy sonic, ford did away with production of the ford focus, chevy cruz has gone away. Analysts say they wont go away entirely but only the strongest will survive. They list a couple of examples the honda fit and the nissan ver sa may be able to survive but there is no doubt,su vs if you go out on the highway or the interstate somewhere its almost all suvs. Its unbelievable. Stuart its just noticeable isnt it . You dont see many sedan, little cars you just dont see them any more. Its all suvs. Ash thanks very much indeed. Ill change the subject well talk about businesses trying to deal with the virus and the lockdown. Ed rensi is with us the former president and ceo of mcdonalds usa. Ed, look. I dont know how businesses survive here. First of all youve got a lockdown and then youve got some states opening up. Then youve got some states re locking down with a complete change in the rules. How do you run a business, a Restaurant Business in an environment like that . It is extremely difficult and i find it amazing the politicians dont take the time to talk to the people that own these Small Businesses. These are families. These are pep that have got everything on the line, ask them here is the problem, here is what we think the solutions are. What would you do and how would you do it . Cuomo just shutdown the idea in new york that you cant have a drink at a bar unless you order food. Well theres easy ways to separate people at bars. If a husband and wife come in and want to have a glass of wine thats doable. Do the face mask walking in, walking out, keep people six feet apart whatever you need to do but dont just unilaterally lock everything down because you dont have any ideas. Stuart theyre being trampled into it though arent they . Some of the governors which are relocking down its like a stampede. Theyre very frightened of voter s coming at them saying oh, you opened up too early. Youve got blood on your hands. Thats what theyre responding to. Well not only that, but you also have plaintiff lawyers all over the place filing lawsuits on behalf of employees because they got covid19 who knows where but theyre blaming it on the owners of these businesses saying youre not doing enough to protect me. Theres solutions to all this stuff. Were going to have to reset the way we do business in restaurants and bars thats a given. Nobody is going to complain about that. I hate wearing a mask but i do it out of respect of my fellow citizens i do it out of respect for doing the right thing. Bar owners, restaurant owners, Small Business people want to be good citizens give them a chance dont brow beat them into submission. Yank people back and forth, open close, open close. Nobody knows what to do. Pretty soon well start disregarding anything the government has to say because we just dont believe them or trust them anymore. Stuart real fast, ed. I have heard that 40 of restaurants, smaller, mom and pop restaurants, will close for good because of this. That accurate . Yeah, i dont know about 40 but its going to be a very very High Percentage of all businesses. I can tell you right now when this payroll protection thing goes away from the federal government at the state level youre going to see major catastrophes in a lot of businesses in the United States. We just cant cope with this. Stuart yeah. Dire stuff and dire straights. Thanks very much, ed rensi. Always appreciate you being here thank you very much. The Republican National convention will be scaled back. Virus cases surging in florida, so scale back. Now if the situation gets worse, will the event go entirely virtual . Digital . Were going to find out. Chicago bars and restaurants can no longer sell alcohol after midnight, but day drinking is okay, and you could even order those cocktails online. Weve got that story for you. Its not just fund fees that matter. Fund taxes matter too. Every time a fund manager sells a stock it triggers a Tax Liability for you. And the higher the turnover the more you have to pay in taxes every year. And heres the worst part, because of high turnover, you actually might have to pay taxes even if the fund itself loses money. Thats why you want to own low turnover funds whenever possible. The less you pay in fund fees, the less you pay in taxes, the more wealth you can accumulate. The less you pay in fund fees, the less you pay in taxes, 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. 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With paycom, employees enter and manage their own data in a single, easy to use software. Visit paycom. Com, and schedule your demo today. Stuart you have to chalk this one up as a major victory for the progressives. The ultra radicals. Jamal bowman has just been declared the winner in the primary race over representative elliott engle. Lefthand side of the screen is a 16term incumbent democrat from new york. He lost to a total newcomer, jamal bowman. He is a radical and very close to aoc, and he won. That tells you a lot about the extreme leftward drift in our cities and in the democrat party. Lets get back to the markets please we dont have that Much Movement here. We got the dow industrials are down 38 but a slight gain for the s p and the slight gain for the nasdac. This friday its a mixed picture on wall street. Now, this. Top white house economist larry kudlow on commerce secretary wilbur ross disputing reports theres a rift between kudlow and mnuchin over stimulus negotiations. Watch this. Oh, okay. Let me explain. We dont have those sound bites. We had a report that there was a fight between treasury secretary mnuchin and larry kudlow about how to spend money on a future bailout package or a rescue package. There was supposed to be a Division Within the white house. We now heard there is no longer a division and we have the treasury secretary mnuchin saying that it is truly absurd there was any talk of such a division. Ashley . Ashley yeah, well this is actually comes from Charlie Gasparinos reporting. He says the rift involves a payroll tax cut that larry kudlow, supply side economics guy believes that tax cuts is the best way to promote growth and therefore, a payroll tax rut has to be in the next round of stimulus; however, Charlie Gasparino says that look, mnuchin, the treasury secretary does not believe that it stands a chance of passing through congress. Especially passed House Speaker nancy pelosi. So, mnuchin is pitching more direct stimulus payments and also an extension of Unemployment Benefits and there in says Charlie Gasparino is the rift and its splitting people into each side on this particular issue, but as you just said, weve heard from Steven Mnuchin that its all absurd, what else is he going to say but it is interesting, is it not, that if there is this rift over a payroll tax cut, something that larry kudlow is a big fan of. Stuart look there is a rift and there is a dispute and there is negotiations and give and take. Ashley yup. Right. Stuart theres a lot of room foreman youver within those definitions i would say. Anyway, im going to move on to something completely different here. Drinks on the go you see a lot of this as bars and restaurants try to figure out how to keep the business alive, you know, drinkstogo. Well, grady trimbul is with us in chicago, and i want to hear all about these drinkstogo, ordered online. Tell me more, grady. Reporter stuart its pretty straightforward. You go to your favorite bars website or you could call them and they package up a little cocktailtogo for you and youre on your way. Now this is not open container. You have to see , you see here that its sealed it has to be like that. You cant just go down the sidewalk in any city in the country drinking, of course but this gives bars a life line at a time when they really need it. Julia is one of the owners here and julia you were behind as you mix a cocktail there, you were behind this push in illinois to change the law so that you could make cocktails to go. Exactly. I founded cocktails for hope back in march and after about three months of lobbying we were able to change the law in illinois to allow us to sell our premixed cocktails to go. Reporter you really need this because obviously you can see the restaurant and the bar has nobody in it right now. Exactly. The margins on cocktails are so much better than food or bottle s of wine or anything else so this small change will help us not only keep our regulars but also bring in a lot of new clients as well. Reporter and stuart quickly i want to show you how this goes. You place your order online and you dont even have to set foot in the bar. You just walk up to the window they pass you your order and youre on your way and of course you have to consume it at your own home. You cant just walk down the street drinking your newly purchased cocktail. Stuart how much, can you tell me how much for a cocktailtogo well this is a higherend cocktail bar so this runs you somewhere in the 30s but its two cocktails in one bottle so about the same as it be if you ordered it at the bar. Stuart whatever you say, grady. Thank you very much indeed. Sounds rather pricey to me. Take a look at kraft heinz. They make countrytime. They are offering a bailout package for kids. A new form of stimulus check given by countrytime offering kids 100 if their business, i dont know anything about this , lauren give me the story please. Lauren i love this story. Okay, so you were just talking about stimulus checks that Steven Mnuchin wants them, right well so does countrytime lemonade. Theyre offering kids 100 if their business running a Lemonade Stand had to be shutdown by covid so if youre under 14 years old you can sign up with the help of mom and dad on country time bailout. Com. Its totally tongue and cheek but it teaches kids about entrepreneurship and struggles and i have to confess we did do a little Lemonade Stand on my block. I know it was wrong pandemic speaking and our neighbors were fine having our lemonade. Stuart okay by the way, my grandchildren. Lauren dont attack me on social media. Stuart no im just going to followup on that. My grandchildren, five of them, up in chatham on cape cod, on july 4, they had gone out and made masks, tie dye masks and made a load of them and sold them outside of our house for 5 a pop and do you know how much money they made . Lauren 200. Stuart a thousand. 1,000 for masks and it all went to the local covid19 sort of organize yourself fund. They made a thousand bucks i think thats pretty good ashley. Lauren that is the sweetest story ever, stuart. Congratulations. Stuart were in the business of making money in this family let me tell you. Lauren i know you are. You could take a cutoff that if it were your idea. Stuart give it to charity. Lauren thank you very much indeed. I think we better check the market and well do that right now, dow industrials down 50 but the s p and nasdac are both up. Going to go back to the cruise lines in fact well go back to all these travel stocks. The cdc says no cruises until after october 1. Down go the cruise lines, theyve been all over the place recently. Well theyre down today. If you cant take a cruise until at least october, not good for the cruise lines. Big travel booking stocks, look at them. Theyre all down as well because we keep pushing back this return tonormalment. All of them down. Look at the hotel stocks same story if youre pushing back getting back to normal for travel down go travel related stocks. Last one are the airlines those stocks are all on the downside. American airlines, theyve announced a new Touchless Technology starting today customers will be able to go to the gate without touching a kiosk screen, even if theyre checking a bag. The new tech will be at more than 230 airports the Stock American Airlines not on your screen right now but its not made any difference this touch less screen business, theres not made a difference to the stock price all the airlines are down. The Trump Campaign has long dismissed the polls this one may be hard to ignore. 50 half of registered voters in one of these polls strongly disapprove of the president. How is he going reverse that hes got 109 days to go. Well deal with it after this. This is decision tech. Find a stock based on your interests or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. And im an area manager here at amazon. When you walk into an amazon fulfillment center, its like walking into the Chocolate Factory and you won a golden ticket. Its an amazing feeling. My threeyearold, when we get a box delivered, he gets excited. He screams, mommys work when the pandemic started, we started shipping out all the safety stuff that would keep the associates safe to all the other amazons. All of these are face masks, weve sent well over 10 million gloves. And this may look like a bottle of vodka. When we first got these, we were like whoa [laughing] with this pandemic, safety is even more important because theyre going home to babies, theyre going home to grandparents. So, our responsibility is to make sure that they go home safe every single day. In a highly capable lexus suv. At the golden opportunity sales event. Get zero percent financing on all 2020 lexus models. Experience amazing at your lexus dealer. Hollywood now regularly sensors its own movies so appease the Chinese Communist party. The worlds most powerful violate or of human rights. Chinese government sensors dont need to say a word, because hollywood is doing their work for them. This is a massive propaganda coo for the c hinese communist party. Stuart wow a massive propaganda coo for the c hinese communist Party Attorney general clearly tearing into hollywood there for self censoring their films to appease the communists. By the way, he also went after apple, microsoft and google, and as you can see , thats having some effect because microsoft is down again 202 a share, google is down 11 at 1,500, apple inch ing out a 0. 22 gain at 386 so what the attorney general had to say has had some impact there , on those three stocks. Now, steve hilton were expect ing to have him on the program to answer these stories about hollywood. Unfortunately we got technical issues, cant have him on but we do hope to see him next week. Overall the markets are still mixed dow down, s p and nasdac im sorry up slightly. I think i got that right. Mixed market. Drugmakers next week the house will hold a hearing on virus vaccines. Those vaccine makers that are coming up on your screen up big today in advance of the hearings moderna, pfizer, astrazeneca all on the upside getting a vaccine is a big big deal that would let us open up and return to work and school much more safely. Thats why vaccine stocks are up happening now, in fact were just seeing this , the pentagon banning Confederate Flags from military installations. Theyve released a list of approved flags which will be allowed to be flown. The Confederate Flag was not on that list so goodbye, this is the Confederate Flag. Now look at this. A poll, new poll. This is from nbc and the wall street journal, ugly reading. 50 of registered voters strong ly disapprove of the president and half 50 say there is no way theyll vote for the president come november. Mercedes schlapp is with us, trump 2020 senior advisors. Im sorry to go through this again, mercedes but look this poll is really bad news. Its got to be answered. Youve got 109 days until the election how are you going to turn this around . Well ive got to tell you something. If we would have believed all the polls in 2016 we all be saying that Hillary Clinton be president , okay . Weve actually analyzed over those 200 polls that were conducted in 2016 and the president was only up in maybe 16 of those polls. You look at the case in 2016 as well wherein michigan out of the 61 polls, he did not lead in any of them yet he still won the state, so look. We can get into the what methodologies they use, what sampling they use and in this particular poll for example , it very much skews democrats and independents and theres a certain narrative that these polls are saying but ive got to tell you when it looks at our internal polls, you know, the president is a very strong position when we are defining joe biden, and the definition of joe biden right now is that he has unified himself and made it very clear that he has joined hands with the socialists like Bernie Sanders and aoc. Just think about this , varney. If you as a candidate normally you run to the center in a general election. Thats not what joe biden is doing. He is embracing the far left agenda which we know be absolutely destructive to our economy and to american workers. Stuart okay, dont ignore the people who support the president , but will not say that to the polsters. I saw this poll the other day. I think it was 57 of people admitted that, you know, they were uncomfortable saying i support the president. They wouldnt say it publicly, so i think we should read that into the polls, because maybe thats a bit of a comeback. I think youre right about that and i do think that when the president says silent majority i think theres truth to that and i think the fact that so Many Americans dont feel comfortable because theyre so concerned of the backlash theyre going to get for being a trump supporter we saw this with the goya ceo, you know, this great company, he has a Great American story, he says one nice thing about the president and the left goes wild. They are so intolerant and they try to shut down this man, this latino man, and this very Successful Company thats been a huge benefit for the latino community, so it just shows you that there is that sense of fear out there of people really being as i call the silent whisperers who support the president. Stuart real fast ive only got 20 seconds is there any chance the convention in florida next month will go virtual entirely . You know, we continue to work with the state and local officials and are making adjustments accordingly. Right now, as we seen our great chairwoman Ronna Mcdaniel has talked about this where well have a smaller convention where were bringing our delegates in of course their safety their health is a top priority. We are going above and beyond what the local guidelines are in that state, and ensuring obviously that we take care of our conventiongoers. At the end of the day the president s event is going to be the one to watch in the sense that millions of americans will tune into talk about his great accomplishment and highlight his great accomplishments during that week stuart Mercedes Schlapp as always thank you. Thanks so much. Stuart sure thing. Yes its the end of the week and its friday you know what that means. Time to hear what you think about the show with friday feedback. Our producers have been going through the comments. Were going to read some of them to you. Some of them are actually quite nice, after the break. Tell me to my heart, tell me im the only one, is this really love or just a game its pretty inspiring the way families redefined the word school 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. I appreciate what makes each person unique. Thats why i like liberty mutual. They get that no two people are alike and customize your Car Insurance so you only pay for what you need. Almost done. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Tell me something good stuart yeah thats tell me something good. Thats a good song to kickoff the weekend and by the way you are looking at cape may in new jersey its a beach town. Theyre off and running already. Now its time for friday feedback. Youve been sending in your comments all week. Lets see ashley, susan, and lauren as we respond to all of these there we go all on camera. Lets go with this. First of all comment number one scroll it up. Want to read it. Julia writes i love you just the way you are. I can start with you then play nine holes of golf, and then come home and youre still on. Ashley . Youre a golfer. Julia must be really good. Ashley i am. She is, but i mean, you know, you could watch the first 1520 minutes, go out, do nine holes in an hour and a half, be back and were still here. I think its great. Stuart thats the fastest nine holes of golf, unless its on a putting green or something julia, youre all right you must be one extraordinary golfer. Now next, this didnt include their name its kind of anonymous they write this. Stuart is lacking in real understanding of how Financial Markets work, he has succeeded because of his charming manner. You first, susan do you think ive got a charming manner . Charming, yes. Financial knowledge . I do think forecasting and expectations matter in terms of how you gauge and value stock, so thats how i think at least and im being specific. Stuart no youre being critical and thats not allowed get her off the screen. [laughter] stuart youre all right youre all right robert cole writes this. I was wondering if stuart, susan , ashley, or lauren will write a finance book like Charles Payne and gary kaltbaum. The answer from me is no i will not. I dont have any writing talent whatsoever. No you, ashley. Lauren . I bet youve got a book in mind. Lauren i second that. I do have a book in mind but its not about finances. Nothing like charles or gary. I leave it to let them do what theyre really good at. Stuart well what are you going to write a book about . Um, ill tell you privately. [laughter] how about that. Ashley [laughter] stuart now im interested. Lauren its not bad. Its not bad. Its just, you know . Ashley oh. Stuart ive got to get to this. I think its marie durkan says you need to bring back the 10 30 beatles segment also call Paul Mccartney to be a guest spot. That be fabulous. Well i only know five songs so hopefully youll play one of the five eventually because you make me guess them every morning its embarrassing. Stuart right now susan who are the four beatles . Ringo, john, paul, and somebody else. Stuart george. Oh, yes. One more. Stuart that be ringo star, Paul Mccartney, john lennon and george harrison. Three out of four. Stuart itll be a test next week. Thanks everybody great show and thanks to all of you who sent in all kinds of comments. You can send a video if youd like, varneyviewers otero fox business. Com. There will be more varney and thats a promise after this. Youre clearly someone who takes care of yourself. So when it comes to screening for colon cancer, dont wait. Because when caught early, its more treatable. Im cologuard. Im noninvasive and detect altered dna in your stool to find 92 of colon cancers even in early stages. Tell me more. Its for people 45 plus at average risk for colon cancer, not high risk. False positive and negative results may occur. Ask your prescriber if cologuard is right for you. Im on it. Thats a step in the right direction. Stuart now i was just called a flibberty jibbet, ive not heard that word since my mother used it about me many many years ago. I will not take it as a complement but i dont expect to hear from our viewer again. Neil . Its yours. Neil i thought those are fairly tame. You know . Its a great reflection on you that even people who might not like you on certain levels they like your charm i think thats a hell of a lot better than any emails i get , buddy so cliche to that. Stuart ill take that neil and take it and run with it thank you. Neil well you know, there are viewers who call me fat and i always say the camera adds 50 pounds and then they see me in person and they say no it doesnt [laughter] but all right im going to try to top that thank you, my friend have a wonderful weekend stuart varney. Were following a lot of developments going on including looking around the nation,