Transcripts For FBC Varney Company 20240712

At 211 a share, now its 213 up again, those two Companies Amazon and microsoft have huge and growing cloud operations. That is a big part of their stock rally. Now look at tesla, 142, yesterday closing 1600 a share and this morning its up 11 bucks, 1654 but it is up again, are these tech stocks a bubble, is it like the dog, the late 90s, ive never seen anything like this before. Now look at the overall market, the Dow Jones Industrial going up again, maybe 150point of the opening bell, the s p of 21 points, two thirds of 1 . Look at the nasdaq, a half percentage point and more because a big tech again. The market is also getting help from the europeans who reached agreement on a near trillion dollar rescue plan that helps and they are still negotiating a plan for the United States as of right now. Bottom line, big tech in the market going up again today. A different story in our cities there is a confrontation going on on one side local largely democrat mayors on the other federal authorities. You can see it in portland where the mayor blames the fence for the violence. President trump wants to use federal agents and other cities. This is a violent standoff with Strong Political implications and it is not going away. Program note, Ken Cuccinelli is in charge of those federal agents and he will be joining us in just a few minutes. Varney company is about to begin. Stuart let me lay this on thick, ive been doing this for 45 years and i have never seen anything like it. American Technology Companies are digitizing the economy and the running away with the stock market, mike murphy is back with us. Where and when does this astonishing big tech runup in . Good morning stuart, i think it is when the growth ends. When you look at amazon and microsoft and apple, to compare it to the 2000 tech bubble, i dont think it is fair because both companies were just a dollar in a dream, they did not have earnings. These companies are speaking about today, you can argue that price may be expensive but you cannot argue what theyre doing today and what the future looks like for these companies. I dont know what it ends but these Companies Keep innovating so im not a seller im holding all the names. Stuart would you buy into amazon that went up 200 a share yesterday and another whatever it is this morning, another 34, would you go up and buy that stock as of today . Would you do it . I would not, what i do when we allocate money on a regular monthly basis, we are buying a basket that has all these big tech names in there. I cannot tell someone to go out for the first time purchase amazon today but i think there is growth, think back five years, if i said everything you own will be in the cloud, you would have no idea what im talking about. Now that is a real thing. You see growth from these companies in a way that we never expected and knew that was there. I want to own them and if you dont own them by them them in a basket and watch them grow. Stuart you mentioned the crowd under cloud, ive a much more on that in just a moment because its important to the big Tech Companies. I want to look at ibm, ill call that oil tech, the stock went straight up like big new tech, 4. 8 as of this morning. Actually, is the cloud operation driving ibm . Ashley yes it is, you could call it the bright spot in the report today. 5. 75 billion taken in for cloud on Cognitive Software sales, that is a 3 yearoveryear but if you look at the actual cloud and Data Platforms revenue, that jumped nearly 30 . That is definitely a bright spot for ibm. Overall, they based on earnings and revenue and those earnings were down 31 yearoveryear, revenue down 5 yearoveryear, so there are challenges no doubt, 28 of the last 32 quarters they have seen a drop in revenue sales and there is the cloud and the Data Platform revenue, pretty strong indeed and thats giving the stocks a nice lift. Companies are relying on tech more than ever especially during the pandemic. Companies are also scaling back the digital spending. Its a real line that these Tech Companies have to ride but ibm and the cloud revenue very critical. Stuart the cloud, the cloud, the cloud. Microsoft is a big winner in the cloud. , into this, there are surely other bigname companies, other Cloud Companies that are doing very well. Susan cloud is very informed especially in these times when people are going to Cloud Computing instead because youre stuck at home. Dropbox is another name is a Storage Company that helps you easily share files, another fundamental rockstar that i want to point out, they said its a smaller company, rockstar and it helps with plugins and work from Home Software to run smoother. Adobe is another name that we dont talk enough about, it is also transition to all cloud and helping companies. And to recall on the uber app where you cannot find your driver for you, this company in 2016, has over 200 and its another when you missed. Five years ago if you wouldve said the cloud is driving this extraordinary rally and technology stock, i would not know what youre talking about. It is, if youre looking at amazon, you know why it rally, yet jeffrey, Goldman Sachs reiterating 3800 price target when it was trendy below 3000, we have that enthusiasm and optimism, thats when the stock rallies at the day yesterday. Stuart lets change the subject for a Second Period joe biden out with his latest in his economic plan focusing on caring for Young Children and senior citizens. He wants to spend 775 billion over ten years to rebuild the nations caregiving economy. That includes free prek, a childcare tax credit for lowincome and middle income families, access to afterschool and summer programs, how he would pay for all of this, rolling back tax breaks and taxing the rich even more. Come on in here, lets suppose biden wins and he imposes enormous tax increases, spends trillions of dollars and kills oil, gas and coal, i think that is the kiss of death to the economy, what say you . I think the economy, all different, i think the over entering the economy would overcome it. We had obama biden for eight years and although coming out of the great recession, the economy and the market managed to overcome a lot of the policies also. I think we will get past her but i dont know why anybody out there would want to vote for hands out or free government spending. Stuart wait a second you think the stock market would get past maxs enter massive tax increases, huge spending, the end of oil gas and coal, you think the stock market would take that in stride . Itll get past it but what would happen, if you played out and companies are taxed more, their price to earnings would increase because its going to be less earnings. But will companies figure out a way, if you remember moving a lot of businesses offshore and moving to tax savings around the world, i disbelieve the s p would be an immediate pickup, i think the large fortune 500 companies would figure out a way to still put a profit regardless of what biden does to try to slow the economy. Stuart mike murphy enter murphy, we hear you rethink you for being with us. Lets get back to amazon, they are delaying prime day. Do they have a new date . No but they told that a thirdparty seller to the week of october 6. No new date has been set. Typically last a this week. July is christmas for amazon. Unprecedented chopper demand in the new outbreaks. Prime day is bigger, last friday and cyber monday put together. Brands and hardhit category that clothing will be very excited to see any uptick in traffic related to the private promotion. It is october 5 for now. Stuart you have anything on the electric delivery robot that amazon is using to deliver packages, it is from atlanta to tennessee. It is a robot and theyre coming to atlanta, georgia and tennessee, this week, it is a little cooler but that little blue thing spent months learning to navigate around pedestrians and cac in california and washington state, now scout is entering the vast liberty network. If you were a kid in stockholm playing on your front lawn and you see scout roll up to the front door, that will certainly put a smile on your face. Stuart amazon stock is up somewhere this morning. Thank you so much lauren. Stuart to Major Companies reported earnings this morning, but still with cocacola first, pakistan 32 but if you look inside the report, july, the sales started to improve, that coincides with the reopening of the economy. Chinas business bounce back and in the u. S. Coke did better than other countries because drug operation at fast food joints were open and the stock cocacola of nearly 3 this morning. The defense contractor outperform last quarter, their big headline that optimistic about the second half of the year and the stock is up three and a quarter percent, 11 bucks per share. Overall a rally again, lots of green on your screen, the dow, the s p, the nasdaq all on the upside again. Amazon, jeff bezos, he became richer to the tune of 13 billion in a single day. Aint that something. On capitol hill, the household the hearing on virus vaccine development. Any headlines out of that, you will get them real fast. Were going to show you new video showing ambush of Police Officers in chicago that sent 18 of them to the hospital. President trump threatens to send federal agents into cities facing violence. Listen to the. These people are anarchists, these are people that hate our country and we are not going to let her go forward. Stuart however, the mayors of the big cities are calling the move and abuse of power. The man in charge of Homeland Security react to that in just a moment. He is next by the way. Dolph lundgren, youve got a onesixty i. Q. , a masters in Chemical Engineering and youre technically a genius. And it appears youre quite the investor. I like to trade. Well, Td Ameritrade has pros ready if you need help, say talking through a new strategy. Just in case things, you know, get a little rocky . Im sorry on the upside i think thats waterproof. Maybe not. 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Stuart microsoft owns linkedin and linkedin is cutting six workforce because the pandemic has caused a big decline in job recruitment, that is their business and going to laos. Microsoft owns them but theyre still up a book, to 12 microsoft. Alto beauty will close 19 stor stores, they will open fewer stores than originally planned this year, people are stuck at home and not wearing makeup as much as they used to and the stock is down 1. 3 . Look at this please. You are watching new video of rioters in chicago, this friday Police Officers are being brutally attacked, President Trump said hes had enough with all of this. We are sending Law Enforcement. Portland is totally out of control. The democrats, the liberal democrats are running the place and have annoyed with her doing. When i let new york, chicago, philadelphia, neutral entry detroit, baltimore, all of these, we are not going to let this happen in our country, all rent by liberal democrats. Stuart the democrat mayors of seattle and portland and other cities have responded to that with a letter to the feds, the letter says the unilateral deployment of these forces in American Cities are unprecedented and violates fundamental constitutional protection and federalism. This abuse of power cannot continue, lets bring in Ken Cuccinelli acting deputy secretary of Homeland Security. Sir, i see confrontation coming in our cities and i think the democrats are going to blame you. What is your response. Coming, look at portland there on day 54 in a row of violence and that was a violent going on every single day encouraged in part by the political leadership, that was going on for 35 or 40 days before we felt the need to bolster our security for federal buildings which became targets and we had intelligence they would become targets. The cause of our Law Enforcement surge is a violence that goes uncontrolled by so many of these mayors and frankly they are cotelling to those Political Forces that want to silence the rest of us and willing to use violence to do it. We saw the in denver this weekend, you see in chicago, an assault to tear down another statue, injured 49 Law Enforcement officers who were doing nothing but other than doing their job. By the way the Police Superintendent gave a spectacular press conference to walk through all of the events of that violence. Stuart the president says he wants to send in more federal agents into the cities. Will we see federal agents go into the cities this week as soon as possible . Im not prepared to give specifics of operation but the president is serious and we respond to his orders. Those are discussions going on between the department of Homeland Security, the department of justice and the president in the white house about where and how to deploy more Law Enforcement officers and where they can be most effective. That can happen in two ways, that can happen in cooperation with local officials and one of the interesting things is chicago Police Superintendent said is he would welcome that kind of support so there is opportunity for that partnership and the portland model where we go in simply to enforce federal law to protect federal facilities and personnel where we have jurisdiction in the legal obligation to do so. It is both of those models in various cities around the country that were looking at but as long as the violence continues, the president will continue to push us to advance more responsible policing to bring down the level of violen violence. It is possible if you put more federal agents into more cities we will have more violence because there will be a confrontation between the two sides. Forgive me for pricing this but that looks likely this summer. You are welcome to ask your question is do, i have no problem with that. The fact of the matter is, there is no legitimacy to the idea that its okay to attack federal Law Enforcement we dont show up willynilly for the heck of it, we have Legal Authority to do it, the mayor from the letters have not read the constitution annoyed with her talking about and certainly have not read the laws that are were enforcing and getting arrested and getting charges sticking, those sorts of things are happening because were acting within our Legal Authority. We cannot exceed to the fact that its acceptable for people to have any level of violence even if they happily directed at federal officials instead of local and they do go between the two of various cities in various times. Were there to support local Law Enforcement when there allow us to have a partnership but we will always enforce federal law to keep the peace. Stuart i want to thank you for coming on the show today. We always appreciate listening to your point of view on this program and i hope you can come back again soon. You have a great day. Stuart the market real fast, it opens at six and half minutes time, were going up, i see a lot of green. We will be back. Just over a year ago, i was drowning in credit card debt. Sofi helped me pay off twentythree thousand dollars of credit card debt. They helped me consolidate all of that into one low monthly payment. They make you feel like its an honor for them to help you out. I went from sleepless nights to getting my money right. So thank you. Horton is one of the largest builders in the country, they strategically shifted to really building out on what we call the exurbs which is the third ring of a metropolitan market, they are clearly the leader there and theres really sold will show it for the Second Quarter. Stuart that was ivys omen on her show talking about dr horton, the homebuilder, what we wanted was an idea on how to invest on a real estate boom. Come on in our next guest, i have the same question to you, how do i invest as an ordinary investor on what is the real estate boom, do you like dr horton as well. I think ivy knows what shes talking about, i also like Sherman Williams, home depot, all three have potential, we have talked in the past about 2020 being the year of the road trip but i believe were entering the stake asian era and as i look around i see consumers pulling forward of years of vacation expenses to turn their homes into their own private resort to patios, pools, all that stuff happening and you complete this trade through a home depot which is the real injured retailer that you go through to buy stuff to fix up your house or Sherman Williams for paint or dr horton if you want to build a new home. Stuart do you see people who make good money in the stock market start to take it out of the stock market and buy a second home, Vacation Home or a nicer home, and other words transferring assets out of stocks into real estate, do you see that . I have begun to see that a little bit. I think a lot of people, they are chomping at the bit to have an opportunity to own a Vacation Home, there just hooking for a permission slip from advisors like us to tell them go ahead its fine to do so. But one of the main things that i see which blows my mind, for the first time in my lifetime right here in cleveland, ohio, people are making offers above asking price for homes that are on the market right now. Existing homes, ive never seen that happen before in cleveland, maybe in Southern California or new york but in cleveland it is happening. Youre talking about real estate boom, it is real and happening. Stuart cleveland . Okay. Cleveland gets a bad rap and does not always deserve it quite frankly im intrigued to hear that people are offering above the asking price on homes selling really fast. In cleveland for heaven sake. That was a headline. We will play it again soon. Thank you for joining us, this will be a big day, the market is about to open, they are ringing the bell, you know what that means, three, two, one, it is now 930 eastern time on this Tuesday Morning and we are up and running. I expect to see some green especially in the big tech stocks. That is a better game than we were expecting for the dow industrial, sea of green i only see one loser amongst the dow 30 and even right now were up 200 points for the dow. 26800, gain of two thirds of 1 . Show me the s p 500, not a bad gain almost. 6 , more green on the upside and now the big one, the nasdaq composite has been on a tear with all the big tech stocks going crazy and look at that up two thirds of 1 , 10838, thats where the nasdaq is right now. Im going to show you amazon again, you will see a lot of this throughout the show, they postponed the prime date this uthe srs m teek of october 5 as a placeholder. Amazon stock incredible up another 37 bucks as we speak. Microsoft slated to report earnings tomorrow afternoon, all eyes on the cloud business, i will state again, that business is sending the whole tech sector higher, microsoft up slightly this morning, 60 odd cents, 212 is your price. Ibm, i like to call it old tech, they reported last night, revenue down for the quarter but growth in the cloud business, that is helping, stock ibm up 4 , five bucks a share. I have airline stories for you, or whether lauren has the stories. Lauren lets start with United Airlines, the occupancy rate for july fell to 45 . That was from 57 in june and highlights the fact that people are nervous to get on planes right now, the number of people flying fell last week for the First Time Since april but United Airlines stock is up almost 1 . Delta, the pilot union says more than 2200 pilots have volunteered for early retirement, that allows them to avoid involuntary for now in addition to the pilots 17000 other delta workers opted and help them shrink their workforce because they have to match demand and demand is not expected to recover until j. P. Morgan says, 2022 at the earliest. Real quick southwest 17000 workers, thats a quarter of their staff, they signed up for a voluntary we have to wait because they cannot lay off workers until october. Stuart do they see the writing on the wall and so theyre taking voluntary leave now, that is a statement of what they think is going to happen. The stock southwest is up 1. 7 . I want to move on to uber. Stuart im not surprised airlines are uptodate. People are not coming back to the airports as fast as we thought they were going to. That is having a big impact on airline employees. That is the story there, but the stocks are all up this morning. Lets get to uber offering Contract Tracing data to the government, what is this all about. Susan access to data on drivers and writers may have come into contact with somebody who is been infected with covid19 according to the company officials. They provide Health Department with data that use Uber Services and when they use it in according to these officials, this information can give you access in just a few hours time. The first half of this year uber says they received around 500 coronavirus request from Health Departments in 29 countries and most which were processed by the company within two hours time, out of the 560, 158 request came from 40 u. S. Locations, the u. S. Has no federal program or mobile application right now for Contact Tracing. We know apple and google, what were seen on global Contact Tracing capabilities into their operating system which is important because they run three quarters of the world smart phone, it is interesting that uber has gone into this Contact Tracing game because thats not a game that has been floated around. Stuart you are quite right, i want to Pay Attention to the lefthand side of your screen, the big tex again, if you are just joining us, big tech is the story of the day, the week, the month it may be the year. Apple is 395, alphabet is up, google is up 13 bucks, all the big tex entry tech up again. Lets retreat from big tech and look at cocacola. Just reported their earnings, what do we got, what stands out from coke . Good news and bad news as you can imagine, revenue declined, the biggest theyve seen in 30 years, that is not good news, net sales falling 28 . On the upside the ceo james quincy says the Second Quarter will be the worst of the year, he says this is it, we bought them out so to speak. They have seen case unit volumes of the sales of around the world that started to recover, down 16 for the quarter but only down in june and seen a better demand in july, half of their revenue coke comes from the soft drinks and concentrates to the restaurant to movie theaters. The mcdonalds and the amcs of the world when they were shut down, mcdonalds was not selling its product, that was very difficult and you drawn restaurant closures and the other businesses that were closed and is no big surprise of the Second Quarter was so rough on cocacola but having said all of that, they do see a bit of light at the end of the tunnel and they say this is the worst quarter, that has helped the stock today which is up to and half percent. Stuart 2. 5 . [laughter] i cannot take my eyes off of big tech, tesla is up another 20 bucks. Lets get to the big picture here. The big board shows a game of 200 points, six minutes into the session were up 226,087. What is the yield on the ten year treasury,. 61 , not much change, what is the price of an ounce of gold, 1837. That is up nicely at 20 bucks an ounce. Bitcoin, still around 9000 per coin up a bit today, oil, general perception that the economy is moving up nicely, not too badly, oil this morning 42 a barrel. We have more news on the cloud, that is a big story of the day, this time its from google, not only have they hit a new high but the company is strengthening its security to give users more control of who has access to their meetings or emails or what have you. The stock is up five bucks, 1569 on google. Mcdonalds, over 700 of the restaurants in britton island were opened for dine in service, on wednesday mcdonalds stock back to 192. There you have it, 9 37 a. M. Eastern time, we have a rally right from the get go this morning. His was coming up, ohios governor made an alarming warning about his state, watches for a minute. Were at a crucial stage, were at the point of where we could become florida. Stuart the state reported more than 1200 new cases monday, what are they going to do about it, the state Lieutenant Governor wednesday next hour to discuss it. Speaking of florida, the Teachers Union is suing the governor who wants to reopen the schools senator rick scott joins me in our 11 00 oclock hour to report reacts. First, i want to know who is going to win the grocery delivery wars, the former walmart. Com ceo will join me in a moment and i wonder if he will say walmart is winning it. We will find on a moment vo the time is coming for us to get out and go again. To visit all the places we didnt know meant so much. But were all going at our own speed. At enterprise, peaceofmind starts with our complete clean pledge, curbside rentals and lowtouch transactions. With so many vehicles of so many kinds, you can count on us to help you get everywhere you want to go. Again. Whenever youre ready, were ready for you. Enterprise. Come on in, were open. All we do is hand you the bag. Simple. Done. We adapt and we change. You know, you just figure it out. Weve just been finding a way to keep on pushing. Stuart just so you know the dow is up 250 points at 26900. On your screen now, apple, that company is planning to go Carbon Neutral, susan what is the timeline on that. Susan in the decade, they are pretty ambitious plans to get to next 0 Climate Impact on every device that apple sells. That is a lot, they sell nearly 200 million iphones and millions and ipads, watches, air pods and beats headphones. Thats an ambition as a whole as a company and reduce emissions by 75 . Heres a plan of how they plan to get there. The 5 billiondollar apple circular headquarters is Carbon Neutral according to the company but what is also interesting they get to netzero by 2030, apple is also establishing an Accelerator Fund which will focus on minority businesses which is part of the 100 milliondollar racial equality of fund. As for business and apple business itself we have earnings next thursday and will see how many iphones were sold during the quarter and how much cash they have left on the Balance Sheet and what they see for the rest of this year. We also have a big house judiciary antitrust hearing on monday, the apple tim cook is excited along with jeff bezos and mark zuckerberg. Its a very busy week next week for tim cook. Stuart the stock is really close to 400 a share, all over again. Stuart the delivery stocks, amazon, walmart in uber, there are others but im focusing on those three. They want to be number one in grocery delivery. More important than ever during the pandemic. That battle is something we will call trouble and ill five. John is with us and he is the former walmart. Com ceo. Welcome to the program, very good to see you. Im going to ask, what is the number one Grocery Delivery Company and it occurs to meals simply say walmart. Com. Let me phrase us a different way, which Delivery Company delivers more groceries than anybody else . Its gotta be walmart. [laughter] it is only growing in increasing given the point of distribution in the delivery method they have available. Stuart is your chance to boast, why is walmart. Com and its delivery better than all the rest . Because of the points of distribution in the assortment that they carry and the prices that they have. Stuart that simple . That simple. Stuart is an easy to use website, i have not done it but is it userfriendly . It is. It is very good, they continue to make improvements. Stuart youre on the board of Bed Bath Beyond i believe as well as previously working at walmart. Just ask you out of the blue, how are these retailers going to handle not enter mandatory mask wearing in the stores. How are they going to handle that and enforce it. It is difficult but what i will tell you im the interim ceo of a Company Called route 21. We have had very successful relaunches, we opened our stores, we prepared a chart for a town hall that we will have tomorrow mapping our Sales Performance against the states nationally and that look like a covid19 map, i bring this up because where the virus is increasing, our sales are declining. Where the virus is stable or eight declining our sales are accelerating. Its very clear to get this economy going Everybody Needs to wear a mask. Stuart that is it, let me repeat that. You have a map that says where covid19 cases are declining, sales are going up. Where covid19 cases are going up, sales are going down, would this be true in the southern cart of texas, florida, arizona, ohio, cases going up, sales going down, is that true there . Yes, in the northern part of the country where its flat or declining, the sales are going up, its a function of traffic that is virus has increased in texas, arizona, you see the traffic decline. As other states of gun control, it really goes back to Everybody Needs to wear a mask. That is something where most retailers are gourmet not in mandating it but its hard to enforce. Stuart thank you very much indeed for being on the show today. We wish you the best of luck, is it rude to anyone. Route 21. Were doing very well thank you. Stuart come back in cs and give us a map of sales versus virus cases again, that is intriguing again. Stuart lets have a look at the market overall and i believe the nasdaq has turned negative. What do we got on that . Susan we have the nasdaq playing catchup because i underperformed last week the rest of the benchmark, something that you really see so far this year and the reason they underperform is a wide of gap between the performance of the s p 500 and the nasdaq since 2016. Its a profit taking. Amazon is down 8 but you knew the comeback was coming for the likes of amazon because if you check on robin hood, a lot of people are buying on the dip, from monday to wednesday when amazon share fell last week. Im not that surprised especially when we head into the earnings season where the big Tech Companies, amazon and apple and google are expected with a cast on the Balance Sheet. Stuart interesting when we open the market at 9 30 a. M. , big tech went straight up. And microsoft is on the downside, amazon is down 30 bucks, facebook is down, there has been a turnaround there and they have big tech, microsoft is down, amazon is down the alphabet and apple are up. Joe biden released a new plane today that has a big price tag, 775 billion, who is going to pay for that. I will explain in my take at the top of the 11 00 oclock hour. Plus we want to invest in space, like elon musk, our next guest can shows how to do it essbase etf, we will bring it to after this. How they gonna pay for this . They will, but with accident forgiveness allstate wont raise your rates just because of an accident. Cut is that good . No you were talking about allstate and. I just. When i. Accident forgiveness from allstate. Click or call for a quote today. Accident forgiveness find your getupandgo. Find pants that arent sweats. Find your friends. Find your sense of wander. Find the world is new, again. At chevy wed like to take you there. Now during the chevy open road sales event, get up to 15 of msrp cash back on select 2020 models. Thats over fiftyseven hundred dollars cash back on this equinox. Its time to find new roads, again. To listen, is to hear more than whats being said. And offer the answers that make someone feel truly heard. I understand, lets get started call a Dell Technologies advisor today. I understand, lets get started welcome to camp tonsafun on xfinity its summer camp, but in your living room. Learn how to draw with a minions expert. How to build an indoor Obstacle Course plus. Whatever shes doing. And me, jade cattapreta. The host of es the soup camp tonsafun. Its like summer camp, but minus the poison ivy. Unless you own poison ivy. In which case, why . Just say summer camp into your xfinity voice remote to join. Stuart im always interested in investing in the industries of the future. I am told that space is an industry and is a very futuristic industry. Agree to your attention, and etf, basket of spacebased companies under the symbol of ufo, appear play in space, this morning is up to and a quarter percent, the man who runs it is andrew, the ceo of procure the space etf. Welcome to the program it is good to see you. What companies, what are Space Companies, that are in your etf. That are indexed that are fun follows, that classify Space Companies as those thatre generated a majority of the revenues from companies that are diving the revenues for spacebased related activities, satellite companies, rocket manufacturers, satellite manufacturers, operators, companies that are relying upon their technology as well, Companies Like virgin elastic, or become as well as a more diversified defense names like boeing, airbus and the like. Stuart have you been affected, has a space industry been affected by the virus often . Some companies have but some companies have benefited from it. But it look at space, some of these projects and they might have a finite window they can operate in. The navy Space Companies are actually essential businesses because for instance were seen a lot of talk about sending missions to mars because we have a one month window for companies to actually be able to most economically dooms Mars Missions because after the one month passes, mars and earth will be so far away, basically have to wait another 26 months before you can do another mars project, things like that will certainly do everything they can to hit the different timelines. Stuart how much money have you brought into your etf, ufo. Currently is it that 20 million in assets. But were still relatively new fun and is something were still trying to get the education out, most people dont realize how important spaces for everyday lives overseeing things like Foreign Government adversaries as well as allies trying to increase with the doing in space and space is becoming extremely critical part of the military fabric for various nations. Stuart i have to jump in because amount of time but thank you for being with us. That is very interesting, pure play investing in the space future. Thank you. We appreciate it. By the way the dow was up over 300 points, your back to 27000. How about that. Still ahead aaron purring, the trump 2020 campaign. And how the nfl will play to join the pandemic or not. In john tapper with advice on restaurant survival. And then an election risk, thats a big topic on this program. In my opinion mailin ballots will create absolute election chaos. Thats another election risk and their go at that and my take which is 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 are at their low. Thats my fear. Im not worried about the country. 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Call today and find out more in aags free, noobligation reverse Mortgage Loan guide. Access taxfree cash and stay in the home you love. Of course, you can use it to pay some bills, cover medical costs, update or repair your home. But best of all, it eliminates those monthly mortgage payments so you get more cash in your pocket, every month. Learn how you can use a reverse Mortgage Loan to cover your expenses, pay for healthcare, preserve Retirement Savings, and so much more. A lots changed since 1961. Since then over a million Older Americans have used a reverse Mortgage Loan to finance their retirements. It meant so much to nellie, maybe it could mean as much to you. Call now and get your free infokit stuart its 10 00 precisely. Here is where things stand on the market. Nasdaq composite hitting alltime high earlier. It retreated a little bit but it is still up. Looking at boeing, chevron, ibm. Those are three dow stocks. All of them up, combined theyre adding 85 points to the dow industrials which are up over 300 points. Close to 27,000 again. I will show you the drugmakers who are working on a vaccine. Most of them are. Astrazeneca, Johnson Johnson, merck, moderna, pfizer. Officials from all of those companies will be testifying on capitol hill this hour, testifying about vaccine development. Any headlines could move the market and you will hear about it real fast. All right. Everyone, now this. It was on june the 23rd that the democrats held a primary for the 12th Congressional District which covers parts of new york city. As of today, july the 21st we still dont know who won. Four weeks later. No result. Can you imagine the chaos in this election mess if it were to be repeated many times over in the senate election, president elect shun, house elections on november the 3rd. The problem is, mailin balloting. Here is what happened in new york, on election day they counted 40,000 votes cast at polling stations. Congresswoman Carolyn Maloney was 648 votes ahead of her challenging patel, but there were also 65,000 absentee ballots. They didnt start counting them until july the 8th. And now there is a legal challenge about which mailin ballots are valid. So still no result. Weve talked extensively on this program about election risk, that is the risk investors face in President Trump loses. It is my opinion that a biden win poses severe risk to investors. But this is election risk of a different kind. It is the risk of chaos. The risk that widespread use of mailin ball rolls delays a results and army of lawyers to mount never ending series of court challenges. Think about it, please. It is entirely possible, way into late november, even towards christmas, we wont know who will sit in the oval office. We wont know who controls the senate or the house. A breakdown in the electoral process is staring us in the face. It is too late to abandon mailin balloting but not to late to impose some rules. The wall street journal says, absentee ballots should only be counted if they arrive by election day. That would mean they could be counted on election day, we would get an initial result that night. 104 days to go, not much time for serious rule changing. Election chaos remains an election risk, not just for investors, for every american. Hillary vaughn is with us. Who will add to this story. I believe there are budget problems at the Postal Service which can add to this mailin ballot mess . Tell us please. Reporter stuart, the u. S. Postal service is facing 160 billion worth of debt. So theyre making changes to try to cut costs to become more profitable. But those changes are causing a slow delay in mail delivery and as we go into the election, towards november, the big question, how will that affect mailin ballots. We talked to the president of the Postal Service workers union. He tells me slow delivery in mail means, slow delivery in ballots getting to peoples houses and those ballots getting turned in, and the votes being counted ultimately. What is interesting though, the post office is saying that this will not, the changes that theyre making will not actually impact election mail. They gave us this statement, the Postal Service is committed to delivering election mail in a timely manner. Their financial an will not affect the ability to process and deliver political mail. Issue is not if the ballots get to peoples houses on time, if the ballots get counted on time, but if the correct pool lot gets to the correct house. Larry hogan is defending decision to keep all polls open. Some English Speaking voters gaat spanish ballots. Some ballots got sent to the wrong district a big question how this impact will be headed in into november. The post office says you have to ask a ballot 15 days out in order from election day, in order for the ballot to get to your house and turn it in for it to be counted. Stuart i call it a mess. Hillary, thanks for joining us. Change the subject, get back to your money. Sea of green from the dow 30. 28 of them are up. Only two are down. The dow industrials, im sorry, are up 308 points. 26,988. If new york democrats get their way, were going to tax, they are going to tax stock trades. Kristina partsinevelos joins us. She is the at New York Stock Exchange right now. As i understand it, kristina, they want to impose a tax on every single trade that you make in any stock, regardless of who you are. Youre going to pay a tax on the trade. Why are they doing this . Reporter regardless where you are in the country, as long as the trade happens in new york, that you will have to pay that tax, stu. States are facing tough Financial Decisions because of falling revenue. Some politicians turning to wall street for that income. New york democrats are proposing a state tax on these trade transactions. This comes after the new york is projecting a budget shortfall of 61 billion over the course of four years. This tax isnt new. It is not a new idea. It was enacted back in 1905. Lasted for 76 years. Now new york democrats are proposing specifically, this is the number for the tax, one and one quarter cents to five cents on various stocks depending on their value. This is a tax that they believe will fall on those who largely deal in big chunks of trading and not going to affect those Retail Investors on robin hood and Td Ameritrade. However you have opponents you say, trading firms will leave the state if you enact this tax. I spoke to as assembly man who says otherwise. You cant escape the tax having transactions done electronically in new jersey, because the Supreme Court said, because of the internet, that you dont need a transaction to physically take place in a location in order to tax it. It would not in any way prevent a tax from being collected. Reporter stu, i know you asked, if you live in texas, you could pay a tax on a transaction if it happens here in new york. Dont think it doesnt have any legs. Just last month almost half of the New York Legislature voted, signed a letter to get a tax on the wealthy here. It could be something that rolls through. But we will see. Back to you. Stuart if it moss, tax it. Kristina. Thank you very much. I want to bring in scott shellady. He has been listening to. I know what he thinks already. What do you think would be impact, effect of a tax on every single stock trade . Well it is going to be a tax. Paid for by every american that has any stock in any portfolio and any 401 k . It will hit anybody across the board. It will be more friction, not less friction. It will be a tax on your trade that is going to hurt you and cost everybody money. Look, it is something we talked about here in chicago for a very long time. All the guys that used to wear funny colored jackets and yell and scream all day like myself, it was hard to move that business elsewhere if they threatened us with a tax. They did year in, year out. 100 of the business is done not cloud. Take those servers, move them to houston and now what are you going to do about it . See what these people dont realize is that these exchanges dont need as many people, not nearly as many people as they used to and are portable. So if this is something that new york is going to do, welcome to the New York Stock Exchange in boca raton. That is what will happen. Stuart fascinating. Scott, youre in chicago now, would you just operate as a reporter for us, as opposed to a financial analyst, act as a reporter, we have a confrontation brewing in chicago. The mayor doesnt want the feds to come in to restore law and order. Give us a report from the center of the action, please. Whats it like . Since ive been gone they lost their sense of humor or sense of irony at least. They dont want the police. Theyre trying to defund the police. At the same time they want the police to protect them against these lawless rioters that may be coming to your front door. So clear i let emperor has no clothes in chicago because if you cant see it, it is so obvious, they have totally lost control. Im in the city center right now, it is a ghost town, stuart, a ghost town. With boarded up windows. It hurts. It is an embarassment. What they need to do is get control of the city. If they contact do it, somebody else will. That is what your parents would say to you. I would like to think the sense of irony, when they want to march, have a protest defunding the police, but want a Police Presence to make sure theyre safe what are they thinking . Where has common sense gone in this world. Stuart just your comment that Downtown Chicago is like a ghost town. It is exactly the same in new york city. Every day i show our viewers sixth avenue, center of manhattan, new york city, deserted. There it is right now. The middle of the morning in new york city. Sad. Stuart just like chicago, it is dead. Our cities are dying, theyre not doing anything about it. It is appalling, isnt it . Scott, im out of time. Thanks for being reporter in chicago. See you soon. Change of subject. Look attest last, please, the stock price is surging. Down a bit today, surging above 1600 bucks a share. With that surge goes elon musks net worth. Climbing the lists of the worlds richest people. Come on susan, tell me how much he is worth . Susan fifth richest. Mondays 10 rally in tesla, adding another five billion dollars to his net worth. Just a few weeks ago he was number 20 on the list. He is now worth 74 billion. Only trailing bezos, gates, arnault and mark zuckerberg. The question is, does a car company squeak by with a fourth straight profit and cement the inclusion in the subpoena 500 . The stock is it rallying in part on hopes it will be included in the index, which means index funds need to buy it which boosts the stock price. That will be a big fingers crossed there. Stuart what about jeff bezos . He had a huge payday monday, didnt he . Susan not that he needed the money, jeff bezos added 13 billion to his fortune in one day with crazy 8 rally for amazon shares. Largest single jump to anybodys wealth thanks to bloomberg list. So far this year the amazon founder seen his wealth swell by 74 billion. That is elon musk on his own. He is worth 190 billion. He is personally worth more than get this, mcdonalds, nike, exxonmobil. Richest man to twice america, walk on american soil, john d. Rockefeller in 1937. He was worth about 1. 6 of u. S. Gdp. Bezos closing in on that, not 1. 6 . Stuart i cant wrap my arms around 190 billion. Susan what do you do with that money buy a country or an island . Stuart im sure he figures out something. Susan, thank you very much. A new fox poll shows voters believe joe biden is in better fiscal and mental shape than President Trump. Well see what trump 2020 campaign makes of. That well ask the campaign about that, in this next hour, actually. Also ahead, tiki barber, the nfl outlined new Virus Testing protocals. Are they enough to keep players on the field . Tiki will tell us. Florida Governor Desantis heckled during a News Conference in order. If you had been infected. Then you [shouting] stuart were told that the person doing most of the heckling there has done it before. He is wellknown in the area. Now, what were going to do is talk to senator rick scott because, desantis, the governor of florida is facing a lawsuit from the Teachers Union. He wants to open the schools, the Teachers Union does not, so were going to ask senator rick scott, what he thinks about this. In ohio, the governor is warning, that that state could become another florida, a record 1065 hospitalizations reported just yesterday in ohio. Are they close to issuing a stay at home order . I will ask that question, more varney after this. Businesses are starting to bounce back. But what if you could do better than that . Like adapt. Discover. Deliver. In new ways. To new customers. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back. But bounce forward. Thats why were helping you stay ahead and adapt with a network you can count on, 24 7 support and Flexible Solutions that work wherever you are. Call or go online today. Stuart still got a very nice rally going on for the dow industrials, up nearly 300 points. 278. The nasdaq up 12, s p, nice gain there, 20 points higher. Look at the airlines, please. United, that airline says, listen to this, the average occupancy rate could fall to just 45 in july. Not a good signal for return of the travel industry. Listen to this, delta, more than 2,000 pilots volunteered to take exit packages. Southwest airlines, 17,000 employees signed up for buyouts and voluntary leave. The stocks are up, but employees clearly see the writings on the wall. The Airline Industry is going to shrink. Get to ohio, cases of the virus climbing. The state reported 1200 new cases, 1000 hospitalizations and 15 deaths in just one day. Were going to repeat this, listen to what the states governor had to say about it. Roll tape. We are at the point where we could become florida, you know. Were, if you look at our numbers today versus where florida was a month ago, we have very similar numbers. So were very, very concerned. Stuart that is dramatic stuff. John husted is with us. He is ohios Lieutenant Governor. Sir, i will ask this question, because i read in the Los Angeles Times this morning that los angeles is close to issuing pa new stay at home lockdown order. Are you in any way close to doing the same thing in ohio, stay at home . Thats not been part of the discussion. Really what weve been focusing on are mitigation strategies, reminding people to wear their masks, to be careful, because were seeing a lot of spread in family gatherings, where people are letting their guard down. The governor is just reminding ohioans. We dont want to go to put more restrictions on business and people and their lives. We need them to behave responsibly. Do the things that we know. Mitigate the virus spread. If we do that, we can avoid being florida. He wants to be clear, that you know, our choices that we make are going to determine our destiny. Stuart now the governor made that statement, youre looking more and more like florida, he made that Statement Last week. Now any progress since last week, are the caseloads beginning to calm down a bit, if i can put it like that . Are you making any progress since last week . Yeah. We havent seen them get worse. You know you want to see some longitudinal view. We dont like to make conclusions until you see at least seven days of data. The overnight data showed Positivity Rate slowed. So far we havent seen a increase. We havent seen a decline that would make us feel like were also confident were heading in the right direction either. Stuart forgive me, sir, i have to break into this. I have got some developing news. Forgive me it was so short. We do appreciate it, john, that youre on the show at all. I hope you come back with another progress report. John husted, of ohio. Thank you. Stuart look at walmart, says, that they will close on thanksgiving day. Sounds like a big deal to me, ash. What is going on . Ashley that is interesting. Also the Company Announcing they will throw in another 428 million in bonuses for their workers. That means that parttime workers, hourly, will get a bonus of 150 and fulltime associates will get a 300dollar bonus which is interesting because that now brings the total, that the company has given out in bonuses to its employees to over a billion dollars so far this year. 1. 1 billion. So they continue to invest in their employees which i think is a great thing. As you just mentioned, stu, they are going to close the store on thanksgiving day, saying that is the day for employees to spend with their families. Stuart they are the largest employer in america, i believe. Private sector employer. Ashley yep. Stuart i think theyre being nice to employees by closing on thanks thanksgiving. Stay at home with your family. That is employee friendly move. Sorry to interrupt you. The stock at 132. 89. That is the walmart stock price. It is up 1 today. Look at bayer. They have developments in the roundup settlement. What is going on there . Lauren this is the first case to go to trial. A California Appeals Court rejected an effort to overturn the ruling that weed killer roundup causes cancer. It did slash the plaintiffs award by 74 to 20 million. The reason the mans life expeck tan sy had been cut short because of cancer this is another big loss for bayer. The court ruled it failed to warn users properly about its product. Stuart isnt that incredible. You take enormous amounts of money because you didnt warn customers about a potential threat which the government says was not a threat at all. I mean i find that absolutely incredible. Lauren and that was bayers argument that was rejected by the California Appeals Court. Bayer said look, the epa regulators say the chemicals in our product are, they stand by them. But the label wasnt where it needed to be and well, theyre out another 20 1 2 million dollars. More lawsuits on the way. This could embolden other holdout plaintiffs to go to trial as well. Stuart lauren, thank you. Appreciate it. Lets get to warren buffett. His Berkshire Hathaway has been losing money during the pandemic. What i mean by that is, the value has come down. Straighten me out here, ash, what is this all about . Ashley i will do my best. Were talking about market value this year. Turns out Berkshire Hathaway has lost more market value in 2020 than all but four publiclytraded u. S. Companies. You know, if youre not in tech and youre in banks this is what happens, right . So lets look at, if we want to look at the market cap losers to date, the biggest loser, jpmorgan, down 138 billion. Followed by wells fargo, bank of america, exxonmobil and Berkshire Hathaway has dropped its market value 90 billion. Amazon, all the tech stocks, by the way, there you go, theyre the winners. Thank bod mr. Buffett has a sizable in apple to help offset his losses. Stuart youre right. Tech is such a huge winner. Those numbers on the screen just astonishing. Next case, another taxandspend bonanza, joe biden unveiling his part three of the build back better plan. That is what he calls it. He will spend 775 billion. He wants Real Estate Investors to pay the bill. Get my take on that next hour. And next, we have a guy who ranked the most trustworthy social media apps. I want to know where twitter and tiktok land on the list. Well tell you, after this. Introducing stocks by the slice from fidelity. Now you can trade stocks and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. 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 [ind mom ct radio chatter] come on, hurry up all systems go . Mission Control 5 4 3 2. And liftoff. vo audi etron. The next frontier of electric. Get audi at your door Remote Services through participating dealers. 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 stuart been in business on wall street for an hour. We have a rally going on. Certainly for the dow industrials up 200. Certainly for the s p, up 13. The nasdaq is coming down a bit, 16 points lower for nasdaq. We opened with a big rally for tech but that has faded. However if you look at google and home depot you like what you see. Earlier today they both hit alltime highs. Time to take a look at apple. Everybody owns a piece of apple if you have any money in the market. The stock is down a fraction, 50 cents, thats it. They unveiled a plan to go Carbon Neutral by 2030. I dont think that has affected the stock. It is still going strong at 392. Philip morris, that stock is up, 4. 6 higher on philip morris. They reported better sales and better revenues. 76 bucks a share. The Trump Campaign targeting the chinese social media app tiktok. The campaign put out ads saying that the app is spying on users. Tell me what that is all about, susan. Susan one ad that says tiktok is spying on you. Whether tiktok should be banned in the u. S. . They ask for respondent the names and contact details. Tiktok taking issue with facebook on these advertisements. Accusing facebook taking money for a political ad that is attacking a competent door as they are launching a tiktok app. And if user data might be at risk because of that. Meantime multiple u. S. Companies including wells fargo prohibit their staff from down loading the app on any Company Device or email. Tiktok is trying to distance itself from chinese roots. Hiring former disneys ceo boss. Also confirming today that they will hire 10,000 in the u. S. Over the next three years. You know ticktock only currently employs 1400 in the u. S. , which is up from 500 in january. It seems to make sense. Downloads for the app broke records for first three months of this year. 300 million global downloads in three months. 2. 2 billion in total since its existence. Stuart my grandchildren are big fans of this. Their age is five to 12. They love this. Susan young users. Stuart they are users. Thats right. Interesting story here. Our next guest has a report, he ranks the most trustworthy most social media apps and least trustworthy. By the way, chinese apps like ticktock scored very poorly. Alan snyder, is the ceo of the Company Called, now secure. All right, alan, why is tiktok considered the least trustworthy of all of the companies on the list . And what makes it untrustworthy . I think there is a couple of things to consider when you look at it. I dont know that i would call it the least trustworthy but what we saw in general, many of the International Social media apps just didnt pay as much attention to security as what we saw for many of the u. S. Based social media apps. So what we saw is a big disparity in security scores between u. S. Versus international. Stuart what does that mean . My grand children, the ones in massachusetts, that is, five of them, theyre all on tiktok. In what way are they not secure . Yeah. So when you think about any app, you need to think about two pieces to it. Did you build the app such that it is safe and secure and cant be breached by some external party . We see issues and concerns there. But then it is also data use. They have your data. What are they going to do with it . Who has access to it . How are they going to use it . And i think what you see particularly with a lot of the International Social Media Companies there is a lot of concern on the data usage on the back end and who has access to it. You saw that recently with twitter issue in terms of who had access to information on the back end. So when we look at it, we look at it, we say that it is really important that you get both of those pieces correct. You secure the app on the front end and data on the back end. Stuart alan, let me go to extreme here. Straighten me out if im wrong here. The concern is that young folks post something on tiktok, fine, no problem. But 15, 20 years, later, that information that information, that video, the tiktok post is retained on a server somewhere and retained by china and therefore could be used for blackmail. I know that sounds ridiculously extreme but, is it valid . Is that concern valid . I think its valid although i think there is actually even easier ways that i get concerns which is, if i, lets say i state actor building a giant facial recognition system, i was using tiktok with a bunch of images and videos and people, Images Associated with their names, that would make it easier to do surveillance when you enter my country. Stuart real fast, who was, is the most trustworthy . We saw facebook being the most trustworthy. They scored very well. Incidentally though, what we also saw is a lot of Third Party Apps that connect in to the top tier apps. They are less secure. Interesting example, we saw one highend dating app that was connecting into instagram and it was transmitting the information in the clear, user name, password, information. So while instagram scored very well, the apps that were connecting into and using instagram did not score as well. Stuart you have got to be careful. Alan snyder with nowsecure. Alan, interesting. We appreciate you being with us. Thank you, sir. Thank you. Stuart i will put novavax stock up on the screen. It is up a little bit. Ash, what is the update on the virus, novavax . Ashley yeah we got an update on there, this vaccine from the president of novavax, dr. Greg glenn who told a conference look, the government gave as you billion dollar contract to get 100 million doses of the vaccine candidate as he calls it, ready by the end of the year, he told the conference this morning we are on track for that. Obviously its a very challenging thing, but we can scale this up. We done it before with other products. They are about to enter into phase two trials on this particular vaccine. That is another positive sign i would say that the president of the company saying look, we are ramping up, we can get 100 million doses of the vaccine available by the end of the year which is remarkable. Stuart fair point. Any positive news on a vaccine tends to help the overall market t may be helping it today because the dow is up 230 points. Ash, thank you very much indeed. Remember bar rescue guy, jon taffer, made a name for himself transforming struggling bars into profitable businesses. He is now offering his expertise for free to restaurants hurt by the pandemic. He wants to help keep the doors open. He will tell us how he will do that. He is on the show next hour. Now on, on your screen, a robot that makes smoothies, handsfree. Is this future of food preparation in the post virus era . Is this robots in food service . Thats one of them. Well discuss it and show how it works after this. At the investments, which we cant control, and lets now look at our goals. In other words, we only want to take as much risk as is necessary to achieve our goals. In a highlyconnected lexus vehicle at the golden opportunity sales event. Lease the 2020 es 350 for 359 a month for 36 months. Experience amazing at your lexus dealer. 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. Stuart if there is one thing that the virus and the lockdown has really speeded up, it is the use of robots in food service. Just a couple days ago we brought you flippy, the automated burger maker. And now i bring you a machine, a robot actually, which preorders and makes smoothies. The ceo of a Company Called, smiling, the company is called, blendid. Rhymes with splendid. He makes this machine which you see on the righthand side of the screen. Have i got this right, that machine you dial up, call up for an order and it makes automatically handsfree, is that how it works . Thats right. This is a fully autonomous and contactless robotic kiosk. You order from your mobile phone. You can customize and order to your taste, nutrition needs. The robot makes it, delivers it to you, without anybody touching it. Stuart i can imagine that is very useful in a Shopping Mall or a hospital, for example. Is that where youre selling . What is the nail of this robot by the way . So the name of the report also blendid. Everything is blendi. The robot is and kiosk is blendi. Stuart okay. Obviously restaurant and food service has been very hard by covid19. As you can imagine customers are afraid of visiting facilities because there is concern about the safety of employees and customers. Foot traffic is way down. The costs are way up and our customers are bleeding money. Blendid makes it immensely profitable for our. Deployment is happening in colleges. Because affordable food. And with covid food safety has become front and center. We have heard a lot of interest from hospitals, supermarkets, Grocery Stores, and such. I think the next two years we will see very significant option in the food space. Stuart before we leave you, would you tell us how much the blendid smoothie maker costs . Yeah, so in a restaurant or bar, front of house, back of house, everything inside the kiosk, it costs 100,000 and there is a small royalty based on your Development Calendar and unit level commitment. In any case, operator gets 30 operating margin and the 12 months pay back on the investment which is unheard of in the Restaurant Business. Stuart it sure is. Fascinating. Thank you very much for being with us. The ceo of the blendid, the smoothie maker. Good stuff, mr. Jain. We appreciate it. Thank you for having me here. Thank you for having me here. Stuart sure thing. Gave you a commercial. Why not. Discount grosser all did i german owned chain, expanding here in america what does it mean for its competitors i should say . Do you have anything on this, lauren . Lauren it wants to be the third biggest Grocery Store in the u. S. After walmart around kroger. It is planning 70 new stores in the u. S. This year. 2500 by the end of 2022. These new stores will be in arizona, new york, texas, kansas, california. Aldi sells cheaper private label brands and do penny pinching things to save money to keep the prices low. For instance, you have to make a deposit to pick up the shopping cart to insure you bring it back, so they dont have to the workers round them all up but their timing is almost perfect. More americans are shopping, more americans are looking for deals right now. Theyre expanding, walmart, kroger, maybe they should be a little bit worried. Stuart all americans look for deals at all times. Thats the way we are. Lauren that is true. But now i think more than ever. Plus food prices are going up. Stuart you got it. Lauren, thank you very much indeed. Check that market again because weve got a nice rally going on here. It is Tuesday Morning, the dow is up 200, s p is up, but weve seen a retreat by big tech. That is why the nasdaq is down after having a that nominal day yesterday. Down just 40 points. Dr. Anthony fauci will throw out the first pitch at Washington Nationals opener this thursday. The defending world champs saying in a statement, quote, dr. Fauci has been a true champion for our country during the covid19 pandemic and throughout his distinguished career. So it is only fitting that we honor him as we kick off the 2020 season. Dr. Fauci has described himself as a gnats super fan. On that note, look at draftkings, why not . Baseball start this is week. The nba restarts next week. 350 nba players tested for the virus tested negative. Draft king stock going up 7 1 2 today. The nfl has a plan to keep players safe from the virus. It involves frequent testing s that enough . Im asking tee key barber next hour. On your screens, a tiny house. These micro homes are doing big business. Well tell you all about it after this. Save hundreds on your wireless bill without even leaving your house. Just keep your phone and switch to xfinity mobile. You can get it by ordering a free sim card online. Once you activate, you only have to pay for the data you need, starting at just 15 a month. There are no term contracts, no activation fees, and no credit check on the first two lines. Get a 50 prepaid card when you switch. 5g is now included with all new data options. Switch and save hundreds. Xfinity mobile. Okay. What youre looking at now is a Strong Performance for the 30 stocks in the dow industrials. Nice performance for the 500 in the s p 500, but, a retreat for big tech on the nasdaq. We opened with all big tech stocks going sharply higher. They have mostly retreated. Now im going to change the subject to something completely different. Tiny home sales, absolutely taking off. Grady trimble is in elgin, illinois. Grady im familiar with the small tiny units, tiny houses. Ive seen some of them. Tell the audience, how tiny is a tiny home . Reporter about 350 square feet the one we showed you before the commercial break. Were at bantam in elgin, illinois. This company has pivoted since the pandemic. The focus on people with real homes who might want to accessorize their backyard with that. It might be a pool house. Here is the thing for our audience, stuart. Tiny offices this, is the big thing. People are stuck at home. They want to get out of their house where the kids are, to have a private place to work. The founder of bantam built, youre putting a lot of effort into selling these offices. I never would have thought of it. Plop it down in your backyard. A lot of people like to work from home, but they dont like to work with everybody else that lives at home. On top of that, weve been designing Small Businesses in the tiny house industry for the last five years. So for us to design a sensible place to work from home, all you need is a shed permit and you can plop one of these in your backyard, avoid all the expensive remodeling costs. We figured we would design some spaces that really work well for a lot of people that are struggling with working from home right now. Reporter stuart, because i know you will ask, the size of this one is just under 100 square feet. But you have got a desk. You have a bigscreen tv and some shelf space there. Price on Something Like this, starting 8500. It could go up if you add accessories on to it. I think it might look for your home studio. Go out into the backyard into the tiny office. Stuart i could but i probably wont. 8500 bucks, to me, that is a pretty good price for what youre getting. Very useful a back office in your backyard. I like it. Tell the gentleman i may be a customer. Probably not but you never know. 8500 bucks very attractive. Thanks, grady. See you again real soon. Lets have a look at spotify. Way down now, down 11. The music streaming company. It is unveiling the first version of its new video podcast feature. I dont know whether that pushed the stock down but the stock is down 3. 8 in otherwise up market. The movie industry really took a hit from the pandemic. The new movie, tenet will not make the august release date as movie theaters remain closed. Lauren, it has already been pushed back three times, isnt it . Lauren three times Warner Brothers put back their 200 milliondollar blockbuster. Tenet. They delayed it again indefinitely because theaters are still closed. Amc is looking to start reopening july 30th. Cinema narc, july 31st. What will they show . Disneys mule mulan, is slated for august 21st. Every time tenet is pushed back, mulan is pushed back. Stuart another thing for the hollywood and the movie business. Cinemark is up a fraction. In my opinion. Mail in balloting will create a election risk. Another election risk. I will talk about it with the trump 2020 campaign in the next hour. Biden reveals the 775 billiondollar plan. He calls it the rebuilding of america. Who foots the bill for that . I will tell you now. Real estate investors. Just after this. Look at that rally, up 300 for the dow industrials. 26,982, not bad, huh . More varney after this. Ive always been fascinated by about whats next. And still going for my best. Even though i live with a higher risk of stroke due to afib. Not caused by a heart valve problem. So if theres a better treatment than warfarin, i want that too. Eliquis. Eliquis is proven to reduce stroke risk better than warfarin. Plus has significantly less major bleeding than warfarin. Eliquis is fdaapproved and has both. Whats next . Reeling in a nice one. Dont stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. Eliquis can cause serious and in rare cases fatal bleeding. 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Look, reverse mortgages arent for everyone but i think ive been round long enough to know whats what. Im proud to be part of aag, i trust em, i think you can too. Trust aag for the best reverse mortgage solutions. Call now so you can. Retire better stuart 11 00 oclock eastern time the dow industrial up almost 300 points, 307 to be precise. The nasdaq has turns out, it is in the red, i should tell you hit an alltime high earlier, that is 90 minutes ago in the big tech stocks came out of the box really charging ahead and they have since retreated. I will show you three dow stocks, boeing, chevron, home depot, they are down and they are adding 85point to the dow industrial. The dow powering ahead up 300 now, breaking news on vaccines, no buybacks says is on track to provide 100 million doses of its vaccine by the end of the year. More on that in a moment but first this. First came the economic plan, raise taxes and spends trillions, then came the green plan, kill oil, gas and coal, 0 emission Power Generation by 2035 and now early this morning joe biden release part three of his build back better plan. And its another tax and spend bony anza. Spend 775 billion over a tenyear period and heres what to get. 3 million new health and education jobs and that includes hiring 150,000 Home Healthcare workers, all three and four yearolds get free high quality prek, bill Energy Efficient childcare facilities with tax credits for lowincome people and expand after school, weekend and summer programs. Okay, that is what you get, who pays . Real estate investors who make more than 400,000 a year, that is who joe thinks should foot the bill. Say goodbye to using real estate losses to limit your tax bill, say goodbye to rolling over your profit from one property into another without tax. It is not complicated, if youre successful and youve invested in real estate, pay up. That is what the plan is all about, tax for socalled rich, wredistribute the wealth, you gt more than me, that is not fair, give it up, handed over, the biden plan is a measure of how far the far left, the democrats are being dragged by the socialists. What a contrast with the trump program, he is going for cut taxes, cut red tape, go for growth and go for prosperity. 105 days to the election and the third hour of morning continues right now. Stuart lets bring in a man who won the nobel prize and a former chief economist. A frequent guest on the program. Regarding heavy on the show. Thank you for being here. Stuart you heard what i have to say about joe bidens taxing program in his spending program. Lets suppose for a moment that all of those plans went through and came to for wishon and he imposed on the economy, what would it do to the economy and what would he do to the stock market. My take is a little bit different if you look at biden strategy, i think what he will do is make Common Ground with his colleagues in the senate. It if you look at his plane for manufacturing, this is exactly what the Current Administration is doing through barta to get manufacturing in the United States, vaccines and the vials that we need for vaccines. It is the kind of thing that republican senator blunt in Lamar Alexander proposed at a program called radix to provide r d and manufacturing of test systems and devices. It is the plan that senator alexandra is introducing for the next pandemic. These are all attempts to recognize that the market has not protected us from virus and has operated under provided with adequate supplies of ppp and the test that we need in the attempt to get the market to r d and market friendly measures to produce the things that we as a nation want to be saved. Stuart maybe Im Old School but i was always told if you impose massive tax increases on any economy, you tend to slow it down, do you disagree . Ever going to have things like ppe or test, we will have to pay for them somehow, you pay for them out of pocket or you pay some taxes and then the government pays, but either way we will have to pay to get these things, it doesnt really change how much it cost if you adjust how you pay for. Stuart what do you think of this argument the new school of thought, you just. The money, you need the money you just. It, dont raise taxes, just. The money and theres no harm done, what do you say to that. Most reasonable economist dont believe that is true. What they do think that right now is the time that its very inexpensive tomorrow. What you have to think about is borrowing a very low cost, making investments like these investments in r d for new test systems the nih is making, you borrow now and make those investments and then you raise taxes in the future and taxes will go up partly because we restore growth to the economy and the main way to grow the tax revenue is to grow the tax base, not for increasing the rate. Stuart would you hold on for a second, i want to break in and get the latest news on the vaccine, in terms of right now we see more than 3. 7 million cases in america a little more than 63000 new cases reported in the last 24 hours. I will put the states on your screen which are the hardest hits, biggest single day increase in new cases, florida, they saw more than 10000 new cases, texas, california, louisiana, georgia all among them, lots of new cases, the governor of georgia reversing insane wear a mask in public. I want to bring in edward lawrence, executives from the big pharma are testifying on the hill about vaccine development, what is the headline edward. This is the reason i think the market is starting to jump, its been very positive news and the subcommittee for commerce, the big names in the heads of the big names are there, were talking about moderna, Johnson Johnson, fisa, astrazeneca, in this Johnson Johnson say they expect to have a vaccine in the beginning of 2021, fisa says it will have 100 million doses by the end of 2020, astrazeneca says there vaccine could be available in october of this year, astrazeneca says it scaled up to be able to produce 300 million doses, once the vaccine is approved, they are saying october, to do that the company has 1 billion talking with grants from the federal government, theyve already expected 25 million from the u. S. , madura is shooting by the end of this year. Theyve accepted 541 million in various grants from the federal government and no facts, not on this hearing but as you said earlier they will have 100 million doses by the end of this year and that is because 1. 6 billion was infused with the federal government. The u. S. Government is spending a lot of money and throwing a lot of money at this and it seems from the hearing and might be producing results by the end of this year. Stuart all positive stuff, thank you very much indeed, lets go back to call. Very positive news on the vaccine. As a vaccine the magic bullet to get the economy going again . The most interesting news, theres a part of the federal government doing its job and doing it well, theres an agency barta which is providing these funds, it decided which companies were most likely to produce the vaccine, they invested in those companies and their speeding up timetomarket. This is not a story of the miracle of the market, this is part of the government doing its job and i just wish instead of placing all of our beds on the vaccine that we had a little bit more of a diversified portfolio and remaking the same kind of bets on things like testing devices because the vaccine might work but it might not and theres a lot of people in this country who will hesitate about taking a vaccine so it would be good if we can test and find out whos got the vaccine, whos got the virus and then isolate them and then were good. Stuart thats the way to go to get the economy going again. Thank you very much, as always for being with us. We really appreciate it. Stuart stocks in the news, they are moving, ibm, strong numbers from the Club Business, that helped the stock in the company, their revenue was up 30 last quarter, anyway the Club Business really helped ibm like you helped a lot of other companies, more on the cloud, google hit a new high earlier, their strength in their security to give you more control who has access to the online meetings into your emails, the stock is at 1565 a share. Look at ebay, ebay is selling its classified ads business to this Online Marketing company, its a deal with a little over 9 billion, ebay down an event to be involved on the upside 27 . Im going to show you amazon again, you always have to show amazon, they have postponed their party this year, no new date is being set but they are told sellers to mark the week of october the fifth of a placeholder, amazon had a terrific day yesterday and a good start to the session today but now they are down 65 points, still at 3131 a share, jeff bezos, amazon founder, he added many billions to his net worth in a single day. How many billions. Susan many, many, many billions, 13 billion on 8 rally on amazon shares, the biggest jump in two years, as a result he saw the largest single day job for anybodys wealth since 2012 on the bloomberg billionaires list. Amazon founder has seen his wealth swelled by 74 billion so its worth nearly 190 billion and will get 2 back today buddies personally worked more than mcdonalds, nike and exxon mobil and some predicted he might be the worlds first trillion or why amazon might be the first 2 trilliondollar company and amazon shares, we should remind our viewers rallied on monday and they say its worth 3800 after falling 8 , and might be a discount there, we also have earnings next thursday, i call it super thursday because amazon, google and apple reporting on the same day in the meantime it is not just bezos thats making a lot of money, elon musk and another big mover adding another 5 billion to take his net worth to 74 billion, the fifth richest on the planet behind basil, gates and mark zuckerberg. You have to have money to make money. Stuart i would like to make the point, it is not just the super super wealthy who have made a ton of money at a big tech. Anybody who has any money in the stock market, if you have stocks in your 401k, your ira, mutual fund of any kind, saving for college, youve done very, very well because almost everybody has a little bit of a piece of apple or amazon or google, am i right, it is widely held. Susan two of the most widely held stocks on the planets, you name it, they are usually in peoples retirement funds. Stuart everybody likes big tech. What about tailored brands. They owned mens warehouse, they are cutting jobs, closing stores, actually tell me. Ashley hit hard by the pandemic as you can expect seems they were closed for a period of time and says they will eliminate 20 of the corporate workforce and also closing up to 500 stores, however, they say it will not happen immediately, it will happen over time, they have not idea which stores and they announced the cfo is leaving the company, earlier this month it missed a 6 milliondollar payment to bondholders, they have a 30 day grace period on that but its not a good sign. They also operate tailored brands, mens warehouse joseph a bank, more clothing for men, kng, cutting costs wherever they can. Taylor brands. Stuart lets see now, we have tapestry in the news today, and we have time for that story . I dont know. Sorry, this is me, im going to do this right now. That company owns a few Luxury Brands like coach, kate spade for example, modest gain on the stock this morning after the ceo resigned effective immediately. Said it was for personal reasons after only taken over the role in september. The cfo is now taking over for now. Tapestry brand is up 3. 7 . The irs releases its list of dirty dozen tax scams. We will tell you what to look out for. The rnc convention, weeks away but the sheriff in Jacksonville Florida doubting whether the city can pull it off. New security concerns. Joe biden is making big gas for months, watch this. My name is joe biden, am the democratic candidate for the United States senate. All men and women created by the you know the thing. Alright thank you very much. Stuart. Stuart the new poll vots think joe biden is more mentally sound the President Trump. We will have a story for you in a moment. 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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Stuart it is entirely possible that way until late november even towards christmas we will not know who will sit in the oval office, we will not know who controls the senate or the house, the breakdown in the electoral process is staring us in the face, it is too late to abandon mail in balloting but not too late to impose rules. That was my editorial from the last hour, democrats are pushing hard for mailing ballots, as you heard from a moment ago, that spells absolute chaos, election day. The top 20 press communication director erin, what does the president stand on mail in balloting . President trump has been very clear he does not support 100 male and voting, it would be chaos into the electoral process. Democrats supported because they know it is a system that they can cheat with, they can manipulate the results, lets look at paterson new jersey recently one and five ballots were thrown out from a male in election because of fraud. And in georgia, we saw a dead cat receive a ballot application to vote, when we talk about election security, we talk about being sure and the results of the election where president and President Trump stand on integrity. They want to throw confusion into the election process but we are fighting back every day to make sure that the selection in this country remains free, fair and unequivocal in the result. Stuart i want to bring this to your attention, it just happen happened, facebook has placed a voting disc labor tab on one of the president s post, i dont know if you sell it or not, i have it on the screen right now. This looks like another attempt by the mafia to suppress President Trumps voice to limit his ability to get the facts out there, the facts remain what happen when you do mailing voting. We saw an paterson new jersey, thats not the only example, states like new york and pennsylvania where youve seen where a judge would take money, a bribe and try to change votes, and election judge, its important that we reach maintain and free and Fair Election system and the americans no what is at stake when democrats talk about 100 mail in voting in this country. Stuart im sure you saw this pool, i want to put it on the screen, voters believe that joe biden is more mentally fit than the president. 56 think joe biden is mentally fit for the presidency, 45 think that way about President Trump. Do you want to comment on that . The only poll that matters is election day, we know that President Trump is fighting hard to win the votes in this country. Lets look at the facts, joe biden has not taken a mental acuity test even though he claimed as a Senate Candidate in all of his blubbering speaking that he does, he takes all the time in his came han campaign hk a back time and time again. President trump makes the right calls, not only everyday but the tough decisions and protecting america, think about it, it is three in the morning, the world is in chaos, who they want answering the phone at the white house to make the tough calls to protect the nation, President Trump who stood up fiercely to defend the nation and hold soleimani to Justice Without making sure that we can hold him accountable. Or joe biden deck supported the iraq war and did not support holding Osama Bin Laden to justice. When it comes to those real decisions and what is at stake, we know where President Trump stands and contrary to what the media says, its clear where joe biden stands and is not on the side with americans. Stuart im throwing a lot of subjects that you this morning, i have one more, we want to talk about tiktok, the president is running ads on facebook calling for it to be banned, thats an extreme move, i have to point out to you that a lot of youngsters really love tiktok. And if it were banned, they would not be happy in nor with their parents. What do you say that . There are serious concerns when it comes to tiktok, security when it comes to china and their control, communist regime in this world, absolutely consider the concerns when it comes to tiktok and thats what President Trump is talking about when he talks about tiktok in this country. We want to make sure kids can enjoy the internet without worrying about what a communist regime is going to do their information when they turn their phone on in china can see exactly what their doing at that moment. Its an important conversation this country needs to have in the President Trump as a president to do it. Stuart erin perrine, thank you so much for joining us. We threw a lot at you and you dealt with it. I have some news on the airlines, first of all united, their occupancy rate expected to fall to 45 this month from 57 last month. People still nervous about flying, the slowdown coming back to traveling is apparent in that number. And then delta, the pilots union says 2000 pilots volunteered for early retirement. That is allowing delta to avoid involuntary furloughs. But the writing on the wall, the Heirloom Industries shrinking, southwest, 17000 of their employees, more than a quarter of the workforce signed up for voluntary leave, they see the writing on the wall in the Airline Industry shrinking. A pro football coach says hes skeptical that the football season will start on time because of the virus. Players will be tested every d day, will that be enough to keep the season on track, we will discuss. Floridas largest Teachers Union suing the state to stop the schools from reopening. Are the teachers write orders keeping kids out of school put them in even more danger . We will deal with it and debated next. 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. Stuart is a rally, the dow is near at the high day, it is above 27000 level again, a selloff in the nasdaq but nothing severe, the dow is up 338. Now lets have a look at the virus follow. Floridas largest Teachers Union suing the governor of the state ron desantis over his plan to reopen the schools in the fall. Look who is here, senator rick scott republican from the state of florida. Where do you stand on this mr. Senator . Florida has a very commissioner. I worked with him and i was governor. To make sure parents have choices, do you want to send your child to school or would you like to do Distance Learning. I think every parent is going to make different choices, thats exactly what the states to be doing. Give. As many choices as possible, my daughters are going to be more focused on Distance Learning right now to make sure the children are safe but i know other parents are going to want to make sure their kids are back in the classroom. Stuart if they dont go back to the classroom, it is not facetoface teaching five days a week, the princes a real problem with childcare if they got a state home, those parents cannot go back to work, thats an economic problem in itself. We have to give the parents and students choice. Our School Districts, want to keep everybody say, parents want to keep everybody safe and i think they will figure it out. Across the state of order, or School District will do a good job and i know some parents will need to send their children back to school in the in Person Education is better, some will think its a way that they can get a subsidized meal and things like that. Everybody has different needs and i think her School Districts are going to make sure people choices. Stuart forgive me for keep coming back to this but i happen to think getting the kids back to school is the most important thing of getting the economy going again. The teacher say it is not safe. The teacher say you cannot guarantee safety if we send the kids back to school. What i put it to you, you can never guarantee safety in schools. Lets stop and think about it for a second, clearly the schools are going to do that and figure out how to do it safely, hospitals have figured out how to do it safely in the schools want to do the same thing. We all have to wear masks and will have to social distance and clean things around constantly. It is part of the life were living right now. But i know where schools can figure this out and i nor parents are going to figure this out and some are going to say i dont want my children to go back to school and some will say im comfortable because that teacher, that superintendent, that principle has figured this out. Stuart again, it is absolutely vital, it is not just open the schools, it is get all the kids back into the classroom five days a week, how far away is that . I think its going to ultimately depend on the parents. The schools will figure out how to do it safely. I think teachers will figure out how to do it safely, it will be up to the parents if they feel comfortable for the child to go back to school or not. There will be options and will be up to the parents. Stuart youre walking on eggshells on this one. But thank you for addressing the subject as well. The Republican National convention coming to jacksonville i believe next month. However, sheriff and jacksonville says he has great concerns about having enough security. Can the state pull it off . That sheriff is a wonderful sheriff, i worked with him what i was governor. Everybodys responsibly, they already see the Trump Campaign, the mayor and sheriff and i know they will Work Together to do everything they can too have a Safe Convention one for Public Safety and to make sure people are being tested and wearing a mask and social distancing. I think all of those things will happen. Stuart is going to be a pitched battle. Is when to be a lot of work, this is happening really quickly, conventions usually take a long time to put together but i know the rnc is working hard, the term campaign, susie wilde is helping in florida, wonderful person that is focused on making sure everybody can do this safely. I know the sheriff is two and so is the mayor. Senator we always appreciate you being on the show, i very much. Three big Companies Reported today i will go through them, the defense contractor outperform last quarter, the headline from the report, optimistic about the second half of the year and the stock is up two and a quarter percent. Phillip morris, revenue and profit declined but not that much, their vaping unit up almost 25 , that listed overall revenue in the stock is up 4. 8 . Cocacola profits were down but julys sales started to improve, that coincided with the reopening of our economy, china sales bounced back in fast food drivethrough in america helped boost the u. S. Sales. Cocacola stock is up 2. 5 . Lets get to the irs the list of top scams. For the year 2020 we have the top three from lauren. What do you got. Lauren the dirty dozen, i will give you the top three, the first and most common is fishing, one of the criminal fake email or set up a fake account altogether your personal data. The irs will never ever email you, the second is refund fact, this tends from identity theft, they file false tax returns to divert money into the wrong account and your refund check or economic income payment that comes under the cares act. Finding late as camillus return or bogus tax professional. Be careful about this because many account offices or closed so make sure youre using a legit tax preparer to file taxes paid they must sign their return, they also have to have an identification number. Those are three of the dirty dozen. Stuart my tax preparer is watching this program and i guarantee that he does it all correctly. Guaranteed. And so is somebody at the irs watching this program. Stuart guaranteed. Literally thousands of restaurants have been forced to close the door because of the pandemic in the shutdown. We got that the bar rescue host john tapper will be with us, he has advice to these owners, he saves american businesses. That is coming up. It is official, no fans allowed at new york jets and giants games, the announcement comes as nfl works out lastminute safety protocols, will they get it together in time for Training Camps to start next week by the way, tiki barber will answer the question, he is on the show next. 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 to listen, is to hear more than whats being said. And offer the answers that make someone feel truly heard. I understand, lets get started call a Dell Technologies advisor today. Something about it tells me maybe there is a chance that things get moved back, i am confident will have a season and be able to play football whether or not it goes on the schedule that we have all seen, that is something im a little skeptical of right now. That is the coach of the los angeles rams, he does not think the nfl season will start on time, look who is here tiki barber former new york giants running back, friend of the program, welcome back, good to see you again. Thank you, good to be back. Espn and the players say they have agreed to daily testing for the first two weeks of Training Camp, they are bending over backwards to keep people safe. But lets go right at this, ill put it to you, this is a full contact sport, you are going to be sweating close to people, banging into people, you cant keep them totally safe in a sport like this. I remember those days of Training Camp where youre on the bottom of a pile and all kinds of things are falling on you, it is not very sanitary. They are trying to keep people safe and they will daily test which is the model that we have seen in the Orlando Bubble for the mba and yesterday they reported they have not had any positive test over the last six or seven days, thats a positive but in the difference the nfl its not going to be a bubble like we see in orlando. So you will go home, you will socialize with your family, there may be visitors to your house which is a potential risk once you get on the football field. Those are the complications of the nfl has to worry about, the beauty, if they decided to get rid of the preseason games, at least the nfl has agreed to do that for the players but that is about health and wellness, not coping related issues. But i think testing is a positive sign that theyre trying to work this out before the start of the season. Stuart obviously an extremely difficult thing to do, what happens if there is a positive test. All the other players that have contacts, they have to go in quarantine . Kind of, that is a recommendation every state, local and national government, if you are exposed, not necessarily if you test positive but if you are exposed to someone who tested positive to the coronavirus then you need to isolate for 7 10 days so you dont pass it on unwittingly even if youre a symptomatically to other players and two coaches and people who may be vulnerable, here is the other thing, i dont think we think about often enough, Football Players especially bigger, larger, high bmi, they may not be fat but they have a high body mass index they have sleep apnea, asthma, things that are respiratory really can be very compromised if they should catch the coronavirus. So we in our minds say they are strong, viable, we dont have to worry about them, and actuality Football Players, you do have to worry a lot about. Stuart im reading between the lines, im listening to you very, very carefully, i dont think that you believe the season is going to start on time and the way that it is supposed to start, youre a skeptic as well i think. I am a skeptic only because the more time that you given the potential development of a vaccine and were starting to see progress even though were not near clinical testing on humans yet, if you can push back and delay then it gives you a chance, the beauty from the nfl standpoint, they have not started yet, they handled the offseason perfectly from the draft and everything else, now its getting to crunch time, Training Camps and rookies are starting tomorrow and Training Camps for the rest of the veterans start next week and youre up against it right now, the lane might be the prudent thing to do in the beauty for the nfl, they can push back, they have time on the backend, if the super bowl has to be played late february to as opposed to early, they could do those things and not compromise the economics, the billiondollar contracts for Television Rights that is obviously about to be renegotiated. Those of the important things, health and safety but a monetary issue which we saw get out of hand with major league baseball. Stuart who wouldve thought six months ago you and i would be sitting here talking about maybe the season will get going. Thank you very much for your opinions, we always appreciate it, come back soon. Thank you very much. Stuart a look at this company and what we got here, that is a drone, its from a company in pennsylvania, what we show you, that drone disinfecting an entire stadium, it can do that in three hours, right now the thing is cleaning the seats and people considered in the seats three minutes after the drone has gone by. We thought we would add that to the football coverage. That company may want to look into expanding in europe because the french open, the tennis tournament is returning with fans in the stands, tickets are on sale for the rescheduled tournament in september, that is tennis in france with fans. Lets get back to the airlines, according to the tsa passenger count has fallen for the first time in a long time, give me the numbers please lauren. Lauren demand has fallen for the first time in 13 weeks, since the low april 19, 97000 travelers pass through tsa checkpoints, traffic has risen every single week but that ended last week when traffic average about 664,000 a day down by 30000 from the week before. The rise in infections as well as quarantine measures are disrupting positive trends that the industry has seen for three months. It overrides the move we are seen by the individual carriers to make passengers feel safer. The bottom line, many years for the Airline Industry to recover, 2022 at the earliest in 2023, young a lot of issues facing them. Stuart that is absolutely incredible, an industry that size is going to string to the current level and knock it out of it for literally years to come. Im back to who wouldve thought we wouldve seen Something Like that. 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I think we need to wake until the market is back, if we look forward to 2021 post vaccine, there will be restaurants and bars, the industry will not go away. Were playing with time and im in the belief, here in las vegas were probably looking at another shut down because the numbers are bad and the uncertainty in the marketplace with the airline travel, the numbers are back down again, this is not the time to invest in a business to reopen, this is the time to contain cost i believe and hold on because i believe were more than halfway through this and i believe theres opportunity on the side of this but when we reached the opportunity, we need the resources to execute. Im of the belief that dont believe to death now, try to hold resources back so you have those resources to open in a few months when the vaccine or another vaccine hits and the market comes alive. If i say one more thing, being here in las vegas, i see people in the casinos and on the streets, people want to come back, i believe they are going to. Stuart do you think there is a fundamental shift in us consumers in our restaurant culture, im the kind of guy that will eat in a restaurant three or five times a week, thats the way i used to do it. I may not go back to that regularity and i think im fairly typical, what so you. That does not mean you will cook dinner that night, you might call for delivery, restaurants food has now been in the distribution platforms, through delivery services, direct to consumer distribution, websites like gold belly where you buy restaurant food that you can put back together again input at home. My point is this you still might be eating restaurant food but you might not be eating in a restaurant, these are the shifts that we will see in the Restaurant Industry and looking at how do i distribute my product in different ways. How do we open up the greater market, that market is not there but in a few months it will be. I believe that. That is where i want to leave that, darn stuart, that Restaurant Business will be back. I love to indent like that. Thank you jon taffer, we will see you again soon. There will be more varney after this. You downloaded the Td Ameritrade mobile app so you can quickly check the markets . Yeah, actually im taking one last look at my dashboard before we board. Excellent. And you have thinkorswim mobile so i can finish analyzing the risk on this position. You two are all set. Have a great flight. Thanks. Well see ya. Ah, theyre getting so smart. Choose the app that fits your investing style. About medicare and 65, ysupplemental insurance. Medicare is great, but it doesnt cover everything only about 80 of your part b medicare costs, which means you may have to pay for the rest. Thats where Medicare Supplement insurance comes in to help pay for some of what medicare doesnt. 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There are 3 key things you should keep in mind. One if youre turning 65, you may be eligible for medicare but it only covers about 80 of your Medicare Part b costs. A Medicare Supplement plan may help pay for some of the rest. Two this type of plan allows you to keep your doctor as long as he or she accepts medicare patients. And three these are the only Medicare Supplement plans endorsed by aarp. Learn more about why you should choose an aarp Medicare Supplement plan. Call today for a free guide. Stuart the dow is up 300 points. I want to put everybody on the screen. We have about a minute left of the ashley, first to you, favorite story of the day. Ashley i would say the stadium cleaning drone. English premiere league finishes sunday. Maybe we use those. Have fans next back season. Stuart brilliant. I dont know how you got the english football in but you did. Brilliant. Susan . Susan musk is now the fifth richest on the planet. Stuart lauren, how about you, favorite of the day . Lauren Orlando Bubble. Where nba is playing, all the players tested negative for the coronavirus. Hopefully that lasts and we get fans back in the stands. Stuart you know what mine is . 8500dollar back office you can put in your backyard, totally selfcontained. Get out of the way from the family, work in your back home, 8500 bucks. I say that is not bad. Lauren i thought it was expensive. Stuart Connell Mcshane in for neil. Take it away, con them. Connell maybe that will prevent my dog from barking. Welcome to the show. Next couple hours barking through the news. Food to be with you, i am Connell Mcshane filling in for neil. This is cavuto coast to coast. We have a bunch of stories were following on the east coast of the United States, including stimulus talks happening in washington, d. C. Well bring you latest as things develop. They may very well develop here over the next couple hours. In new york city the spike in crime continues and well talk to the former governor of