Transcripts For FBC Varney Company 20240712

Both companies app stores. We will get into that. Check this one out. Joe biden calling for a nationwide mask mandate for all americans for three months, even if you are alone in the park. Then he takes no questions after announcing that plan. We will get into all of it for you and it is time for friday feedback which you still have time to send in your responses. Email us, varneyviewe varneyviewers foxbusiness. Com. We may read your email if you send it in now. An epic three hours ahead. David asman in for stuart varney. Varney company about to begin. David lets get a check of the markets and as you can see, the futures are down on the s p and the dow jones but up again on nasdaq. Meanwhile, its been 100 days since that march 23rd bear market low. Come in, ashley webster. Ash, we have seen a historic market reaction, a bounceback, right . Since hitting the lows on march 23rd . Ashley absolutely. Good morning to you. Since hitting those lows back in march, hundred day stretch going all the way back to 1933 after the great depression. The s p, up 51 in that period. The dow up more than 50 . The nasdaq up more than 60 . Really quite remarkable. People coming into the market and saying there are some bargains and ever since we have gone up, up, up. Few dips along the way, of course, naturally, but has been a remarkable run. Lets take a look at some of the stocks. I put the year to date numbers on these, not just the last hundred days because they are remarkably impressive. Take a look at paypal. Amazon, regeneron, netflix, clorox, all of these companies having a tremendous time. I want to hone in on paypal, if we can. This stock is up 78 year to date. Just reported its best quarter in history. Massive increase as we know in ecommerce and contactless payments. They are the huge beneficiary of that. They added 21 million new accounts in the Second Quarter alone. That is more than in some entire years. Ubs just raised its price target to 213. The company believes, and they may be right, the pandemic has changed the way consumers go about business and perhaps changed it permanently. Some people have never used paypal, go ahead and use it. Of course, clorox, those clorox wipes, disinfecting wipes, they are still struggling to keep up with demand five, six times the usual demand and they say they may not be fully stocked in these wipes until next year. Last quarter, their sales were up 22 year over year, coming in at close to 200 billion. These are some of the winners during a very difficult time of the lockdown and pandemic. David i dont want to do any advertising but guess what we use here . Clorox. Sometimes we use other stuff, too. But i got it right here next to my desk. Bring in jonathan hoenig, fox news contributor. We are seeing the best 100 day stretch for stocks in almost 90 years, jonathan. Does it keep going . Look, its always ultimately about your own context. Lot of people say they are in it for the long haul, but the market drops and they say im out of here. Its about your own situation. But interestingly, historically, these massive hundred day stretches for the market like the s p have preceded really weak times for the market. Go back to what ashley said. The best hundred day stretch before this one was 1933. Ten years later, the dow is still where it was in 1933, or even the nasdaq had its third best hundred day stretch on record. The two better were 1999 and 2000, the market was dead money for ten years later. Its a tough market to fight because its been led by sort of the Technology Companies that ashley mentioned but those Technology Companies not surprisingly, 50 of the nasdaq 100. That type of concentration is what worries me. Thats why i think now despite the strong comeback its a good time to be cautious on the major indices. David we did have some pretty good retail numbers. I know on the overall numbers it was lower than expected but if you take out auto sales, it was much better than expected, and there was a revision of last months blowout numbers of an increase of 7. 5 , an increase of a full percentage point. Didnt that give you any hope for optimism here . Look, all the fundamentals are improving. That should give us hope. Look, the country is [ inaudible ] up again. We saw the massive spike in unemployment, when everyone is confined in their homes people are going to lose their jobs. Keep in mind, however, the markets are forwardlooking. People have been shocked how the markets gone up during a period of bad economic news. Its not impossible to think that the fundamentals could get better, but the market could sell off nonetheless. David stay right there. We will come back to you. Now the gaming world. Epic games is coming after apple, mocking their famous 1984 ad. Roll tape. [ inaudible ] david i love it. Im sure you remember that from the mac book. Epic games which makes fortnite is now suing apple and google for removing the game from their stores. Come in, lauren simonetti. I love that takeoff on the apple ad. Lauren well, epic games, they are really coming in strong here. Their game fortnite, so popular, got the boot when apple and google found out that epic was offering inapp purchases at a 20 discount if customers bought them directly from epic. Epic was protesting what it calls anticompetitive behavior that allows these tech juggernauts to, they say, monopolize the industry. So this is not seeking compensation. It just wants apple and google to change their policies, and the appeal they are making is very public. You just showed some of that 1984 ad. Well, guess what . When users boot up fortnite today, they will see that ad, mocking the apple video from 1984, touting how apple fights conformity. Now it is epics turn to do that. By the way, i dont know if you knew this, but epic games is 40 owned by Chinas Tencent so foxbusiness. Com asked them, is china influencing your decision in any way and this is the statement that we got from epic. The Ceo Tim Sweeney is the ultimate Decision Maker for epic and the company does not take action unless tim agrees with it. So gamers can still play fortnite if you are curious, but that will change in two weeks, when season four is launched. You might not be able to get it. We will see how this is resolved. David taking on the big guys. I kind of like that story. Thank you very much, lauren. We will come back to that. Now a live look at capitol hill. Its empty because Congress Left without a stimulus deal, and it isnt coming back until september. Jonathan hoenig, come back in. Jonathan, i think markets like it when the government is not in session. They cant do so much damage to the markets. When they are doing stuff they shouldnt be doing. And you know, it assumes that the president s executive action wins the day. Well, i mean, you and i are kind of [ inaudible ] because theres an expectation that government needs to pass when they say stimulus [ inaudible ] so we are all on the same page. We know from history once again that that Government Spending actually slows economic growth. The money spent is either taxed or borrowed. Its sucked out of production, its sucked out of funding the next companies, the next paypal, the next amazon. In my opinion, the trillions that have already been spent, a lot of it has gone to waste and fraud. We talked about people using that ppp money to buy a lamborghini, et cetera. The next best thing the government could do is probably take some time off. Dont pass another big spending bill. Instead, cut spending, cut taxes. Otherwise i think you see the dollar dropping and Interest Rates starting to go up. David by the way, they still have a trillion dollars apparently that they havent spent yet so at least spend the money thats been designated. Stay right there, jonathan. We are not through with you yet. We want to check on uber and lyft. Lauren, you have news on their fight against california . Lauren yeah. So the countdown to the shutdown has begun. A San Francisco judge denied both uber and lyft in appeal to extend the stay that would have basically bought them more time in deciding whether to suspend their services in the state of california, where three cities actually sued them for not classifying their drivers as employees rather than contractors. So both of the companies are going to appeal this decision. But they could be out of the golden state as soon as august 20th which is thursday. That would certainly be a blow for riders there, right, facing limited Public Transportation options now. Voters do have a say in all this in november. There will be prop 22 on the ballot and essentially, voters will decide, do they side with drivers and drivers rights or affordable taxi rides. And wedbushs dan ives think that proposition might work in uber and lyfts favor. That the public might side with the companies. Let them operate. We want a cheaper ride and a safer ride. David we do. The consumers deserve it. Thank you very much, lauren. Jonathan, how bad can this get for the Ride Share Companies . It can get very bad, david. One of the things we havent seen yet, talking about fundamental data, is a spike in corporate bankruptcies. A lot of businesses, big and small, are hurting if access to capital gets cut off, trade continues to get cut off, i think the Economic Data could actually get better. Difficult time to be an investor for that reason. There are so many fluctuations. You have to figure out how many hug huggys walmart is going to sell. People are confined to their homes. The winds and tea leaves are more difficult to decipher now than they were during the great financial recession in 2008. David we didnt have an election two months hence during that shutdown. Jonathan, thank you very much. Check the futures. We are down on the major market indexes. We are down on s p futures and dow jones but not by a lot. Dow jones is down about 100 points. S p is down about 4. 5. Thats about. 13 loss on the s p. And look at the nasdaq. Its still in the green. Well over 11,000 on the nasdaq. 11,187. Due to come up about 14 after the opening bell. A seattle councilwoman is slamming the citys departing police chief, carmen best, claiming that it was no accident she received support from President Trump and attorney general bill barr. We will explain exactly what she means by that coming up. And a new fox news poll revealing that voters think their neighbors are secretly supporting trump for president. Does this prove that more people are voting for him than they care to admit to to pollsters . First, check out those retail numbers this morning. Our top retail guy, gerald storch, joining me with his reaction, next. We love our new home. Theres so much space. We have a guestroom now. But, we have aunts. Youre slouching again, ted. Expired, expired. Expired. Thanks, aunt bonnie. Its a lot of house. I hope you can keep it clean. At least geico makes bundling our home and Car Insurance easy. Which helps us save a lot of money oh, teddy. Did you get my friend request . Uh, ill have to check. doorbell ringing aunt jonis here for bundling made easy, go to geico. Com. Hello . But what if you could stdo better than that . K. For bundling made easy, go to geico. Com. 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. David weve got breaking news on Industrial Production. This is great news, actually. Its up 3 in the month of july. That is a very strong increase for Industrial Production in the nation. 3 increase. Take a look at draftkings. A lot less to bet on these days and thats why, that may be one reason why they reported some disappointing earnings today, right, ash . Ashley yeah, exactly. When you dont have games to bet on, thats your business model, not very good. Posting a loss of 161 million or 55 cents per share. That loss, much bigger than expected. On the plus side, revenue did come in at 71 million which was better than expected. Good news bad news. We are seeing some of these sports as you know, nba, major league baseball, the nhl have restarted but on the College Scene and certainly College Football has been an absolute disaster. On the positive side, they say they are in a strong position cashwise. They have 1. 2 billion cash on hand and have no debt. So that is solid. But the uncertainty about the sports calendar is giving pause and that wider than expected loss is hurting the stock today. David its hurting a lot of fans as well. Thank you very much, ash. Check vaccine maker novavax. Lauren, they just secured a deal with the united kingdom, right . Lauren yeah. Investors are cheering. Stocks up almost 8 in the premarket here. Its for 60 million doses of the vaccine for the uk. We do not know how much the uk is spending in return. Britain is funding a phase 3 trial and they will produce the vaccine with help from some Japanese Companies so they can export it. What this deal shows is how countries are lining up to lock up vaccines for their citizens. The u. S. Paid novavax about 1. 6 billion for 100 million doses. Everybody is lining up when theres a safe vaccine out there. David the uk economy hurt more than any other economy over in europe, by the virus. They really need something to bring this to an end. Thank you very much. Out this morning, retail sales up 1. 2 in july. Of course, ex autos it was up 1. 9 . We want to bring in gerald storch, former chairman and ceo of toys r us. I saw some positive news there. I think these results were unequivocally good. They were excellent. We missed a little here or there but not by my way of thinking. The revisions in june were almost double what the alleged miss was for july. Thats not even the right way to look at it. If you talk about month over month, i dont know what that means as a retailer. I look at year over year. How did we do in july versus july a year ago. That number is way up. We are up 2. 7 year over year. Can you imagine, we spent more money in july this year than last year, before the pandemic. Core retail was up 5. 8 . Thats a huge increase. Now, there are winners and losers in that but totally expected. Ecommerce up 25 . Building materials, you know, home depot, lowes, up 15 . Grocery up 11 . Losers, clothing and department stores. We have be taen talking about fg rupt situates there. Restaurants, of course, are down 19 . Theres no surprise there. Gasoline down 16 . People arent driving as much. Still, when you add it all up, people spent more than they did a year ago when there was no pandemic. David its extraordinary. You mentioned home depot. They are reporting earnings next week along with walmart and target just to name a few. What do you think is going to happen . Great question. So we have seen tremendous strength in walmart, target, home depot and lowes all year. They provide products that are necessities. They have been open, they have been doing a great job in ecommerce, they are thriving right now. They are going to continue to thrive. The question, each one of those is up like 30 or so for the year, even in what were going through here. The question is it still going to go up. I still like quality. They are high quality. Tj maxx reports next week. They are a different story. Their stock isnt up very much because their stores have been by and large closed. They are going to be big winners as this country opens up because theres lots of merchandise up there for them to sell offprice. They will really do excellent going forward. [ speaking simultaneously ] david let me just ask something about whats happening throughout the United States. We just saw most recently chicago, where we had these riots in the miracle mile where a lot of those stores say they are not going to come back. They have been insulted long enough and this was injury to insult and of course, you have the situation in seattle, new york, a lot of retailers say they are closing down again and not coming back. How is that all going to affect retail long term . It wont affect the total. It will just move to the suburbs. Its really unfortunate because i know throughout my career and other retail ceos, we worked really hard to get these core stores, grocery stores, drugstores, you know, things that people need into these areas, into the urban centers. Its been difficult to make it work because theres a lot of expenses in operating there, lot of high shrink. Lot of issues in operating in these areas but we have been able to do it. Now some of the stores have been looted, burned to the ground, et cetera. It makes you think twice about what you put back in there. I still have confidence in the strong Retail Companies that will go back in there and will reopen. Do they really need stores anymore even . Is it all going to move to the internet . Well have to see. David whats most frustrating is a lot of mayors particularly in new york and even in chicago, dont seem to get it. They dont seem to get how important it is for the new york economy to have these stores up and running. Its almost more important for the city than it is for the stores themselves. Well, its a difficult go. But i believe that retail, we always say we do the right thing for the right reasons, we are going to work to get these stores reopened. Most of the stores are going to reopen. Thats where the consumer is. Thats where retailers are going to be. I think every retailer i know has recommitted to social justice, doing the right thing, to opening these stores. They arent making it easy, though. Its really tough. David they dont seem to see that a lot of people come to new york for the shopping. They come here specifically to go to those stores and of course, a lot of workers in new york depend on those stores for their living. Its tough to see whats happening. New york has another huge problem. A lot of retail in new york is heavily dependent on tourism. A lot of it was chinese tourism, if you can believe that. They were number one in new york. It was the europeans a long time ago. None of them are coming anymore. The chinese arent coming, europeans arent coming. Guess what, one of the biggest groups was the brazilians. Theyre not coming, either. David got to leave it at that. Gerald storch, thank you so much. Very good insight. Look at the markets in premarket activity. They are trading down. The dow jones and the s p, just a bit on the s p. Its almost flat. Nasdaq is up. Moments away, the opening bell. 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. 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Lets bring in david leftwicz. We have been talking about this. The markets coming off their best 100 trading days in nearly 90 years. You are still bullish, right . Theres been a few things driving this market. Obviously the pandemic itself and the trajectory of that, and the massive amounts of government stimulus. The fact that Interest Rates are near zero is very favorable for equity valuation and i dont think a vaccine in particular is still priced in yet so we get some success on a vaccine over the next few months, i think that would unlock some more upside. David some more upside. Can you be a little more specific . If in fact we get a vaccine, what happens to the market . How much does it go up . Yeah. So our price target for the s p, we look at the s p 500 rather than the dow, which is pretty similar but our s p 500 price target for june of 2021, so about 11 months from now, is 3500 so you know, 6 , 7 , 8 upside, if you include the dividend. I think theres more to go. We had a 50 plus rally off the bottom as you pointed out. Thats been tremendous. So we have already seen a lot of the gains but i still think theres more to go. David what about, as we hear the opening bell, political pressure . If theres a biden win or if theres a trump win . You know, i think whoever is sitting in the white house in january is going to be still very focused on getting this economy back on its feet. I know there will be winners and losers between who is in the white house in terms of sectors, but i think whats important to recognize about a potential biden win is that yes, taxes will probably go up if the democrats take congress as well, but spending will probably be even greater than those tax increases so we are still looking at fiscal stimulus if we do see the democrats take control in washington and i think thats exactly what the economy needs at this point. David well, we will see what we will see. David, good to see you. Thank you very much. We were talking about losses. There are a lot more losses on the big board than there are winners. Only three gainers right now on the Dow Jones Industrial average. The dow 30 stocks. The s p is down, not as much overall. Its down about. 25 . But that nasdaq keeps chugging along. All the techheavy stocks. It was up much further in the premarket activity but it is still in the green, though just barely so. Lets take a look specifically at apple. Lauren, they are inching ever closer to that 2 trillion market cap. How close . Lauren about 7. So if they hit 467. 72, that means apple has a 2 trillion market cap, First Company in the world to do so. Pretty unbelievable. Look, the latest boost comes from the bloomberg report that apple is charging for the service bundles. That would be huge because it would provide recurring revenue and also prime style loyalty for the company. Services as it stands, thats about a fifth of overall revenue. If you combine that with the new hardware coming this fall, it might be hard to bet against apple but the lawsuits could be coming. Do you think that spotify or any others are going to take these bundles and not allege that this is anticompetitive behavior . Apple might find themselves with more legal and political headaches as a result of all this. David although they are pretty good at negotiating through that. We will see what happens. Thank you very much. Then we have tesla, ash. Believe it or not, Morgan Stanley is actually giving it an upgrade from where its already been, right . Ashley yes. They are. They are not the only ones raising the price target to 1360 from 1050, also raising the stock to equal weight from under weight. That other company, bank of america securities, raising its price target on tesla to 1750 from 800. That is more than double. Morgan says teslas growth may be lie outside of automobiles. They say theres an increasing prospect of them getting a much bigger share of the ev Battery Supply business, basically disrupting that industry. By the way, wedbush says theres a lot more room for this stock to grow on top of the five for one stock split. They also say the model 3 demand in china is much stronger than expected. So put all together, these are very bullish comments from a number of analysts on tesla. David all right. Thank you very much. I appreciate it. Producer, where we going now . Jonathan hoenig. Jonathan hoenig, youre back with us. First of all, you talk about investing like a farmer. What do you mean by that . Well, you have to look for bull markets whenever they come. I think that once again, going through history and one example being that 2000 and 2010 era. I know it seems like ancient history but i remember it very well. We covered it obviously on fox business. That was a period in which the major indices were actually very weak in other assets like commodities were taking off. I believe we are in the same sort of period right now. We are just going into it. We talked about gold, alltime high, also silver inflating. In my estimate, my fund at capitalist pig is looking at some of the agricultural commodities, assets like dva, Ticker Symbol i own in my fund, it allows you in my opinion to really diversify. Holding amazon, facebook and apple is not diversification. They will all move the same way. Owning physical commodities, especially agriculture right now, i think can actually bring some balance to a portfolio. Heres something that can zig when the rest of the market zags. David gold is trading down about seven bucks right now. Are you buying on the dip . I dont buy dimps. I like to buy strength. If you look at the long term bull markets, again, in that period gold went up almost every year from 2000 to 2012. Certainly a decade straight. We could be just the beginning of the same type of bull market in gold and in commodities as an asset class writ large. Especially if the value of the dollar continues to climb. We are printing a hell of a lot of money in this country. That could ultimately decline the value of the dollar. David gold is down about 11. 50 right now, trading at 1958. 50 for one ounce. Jonathan, thank you. Next one, amazon. Lauren, they are taking a page out of spacexs book, spending a massive amount of cash in order to launch internet satellites, right . Lauren yeah. They have greenlit their 10 billion plan to deploy internet beaming satellites but so many questions remain. The key one is exactly which customers does amazon plan to serve here and what can jeff bezos learn from the bankrupt one web and also elon musks spacex. They have had a significant head start when it comes to internet beaming satellites. If amazon can pull this one off successfully, they will do two big things. They will take business from the traditional web providers and they are going to make a lot of money. They can raise billions of dollars in profits. We will see. Amazons turn is now. David lauren, thank you. Well, tencent, we talked a lot about this Chinese Tech Company that developed the wechat messaging app. The president threatened to ban it here in the states and ash, it looks like downloads have spiked. People want to get it before its gone, right . Ashley big spike in downloads of the chat app wechat and its encrypted alternative signal. You may not have heard of it but people who operate in this world have. Wechat downloads went up 41 in a sixday average from the prior week when there was no threat of a ban. By the way, signal downloads which uses an encrypted method which is, you know, as you can imagine, is even more popular, that jumped 30 in the u. S. , 90 in china. Signal, by the way, is owned by a nonprofit called signal foundation. Theres also another one, this is a whole world, i have no doubt, but not much knowledge of because im not the target audience but qq. You ever heard of that . Downloads tripled, tripled in the u. S. In just the past week. But that one, too, is owned, by the way, by tencent. David wow. Tencent gets around. Thank you, ash. Well, maybe Hillary Clinton supporters will have a reason to cry happy tears. The twicefailed president ial candidate says she is ready to help in a Biden Administration if asked. Listen. Every american should want to fix our country so if you are asked to stoierve, you should certainly consider that. David im sure tammy bruice is fired up about that proposal. She joins me in the next hour. Amc is trying to lure customers with 15 cent tickets. Talk about going back. Is that really going to bring people back to the theaters during a pandemic . We will debate that. Check oil. The epa has officially rolled back some obama era rules and the epa administrator joins me next to explain exactly what that means to you. David quick check of the markets. The nasdaq is still up just by a deliver. Both the s p and the nasdaq are down, though not significantly. Dow jones is down about 110 points. S p is down about four. The nasdaq is up about eight. Next one. Check the price of oil. Thats trading down a little bit but its still well above 40. 42. 15 for a barrel of oil. The epa has now officially rolled back some obama era rules that regulated methane emissions from plants. Come in, andrew wheeler. He is epa administrator. Andrew, virtually every deregulation that this administration has put into effect would clearly be overturned by a Biden Administration if, in fact, biden wins the election. What would be the economic effect of that . It would be crippling to not only the Energy Sector but to jobs all across the country. Yesterday we continued to fulfill President Trumps commitment to reducing the Regulatory Burden on american businesses and american families, particularly on the Energy Sector. When we produce our energy here in the United States, particularly natural gas, we do it in a much more environmentally conscious manner than anywhere else in the world. So if the Biden Administration were to come in and overturn these regulations, we would be subjected to more foreign imports of natural gas from places like russia that do not produce natural gas as cleanly and efficiently and environmentally consciously as we do here in the United States. David of course, on the campaign trail, mr. Biden was repeating some of the rhetoric that we heard with the Obama Administration that the green jobs would take the place of those lost carbon jobs. What do you think of that . Thats just not feasible at this point. Right now, renewables are less than 10 and they are important. We need all of the above on energy. But we need natural gas. Americans depend upon natural gas. Its a very low form of energy, just like coal, and you know, if we stopped producing natural gas here in the United States, people like Governor Cuomo has subjected new england to higher gas prices, natural gas prices, by vetoing the natural gas pipe through the state of new york. Instead of providing new england with cheaper, cleaner natural gas from pennsylvania, he wants new england to continue to get natural gas from places like russia, which not only produces their natural gas in a worse fashion but then when you look at the Carbon Footprint of transporting natural gas halfway around the world, compared to producing it here in the United States, the United States natural gas is a clean, clear winner for a clean environment. David andrew wheeler, epa administrator, good to see you. Thank you very much. Please come back. Thank you. David heres a preview of what could be in force under a joe biden and kamala lacalkamala ha administration. Lets institute a mask mandate nationwide starting immediately. Thats what real leadership looks like. David now, does that mean that people not Wearing Masks would go to jail . What about those who purposely hurt our Police Officers . Lot of them are being let out of jail. So you would go to jail for not wearing a mask, but you would be out of jail if you hit a cop with a brick. Does that make sense . We will debate it. There is now a push from democrat leaders to send our kids back to school so what changed . That story coming next. Turn on my tv and boom, its got all my favorite shows right there. I wish my Trading Platform worked like that. Well have you tried thinkorswim . This is totally customizable, so you focus only on what you want. Okay, its got screeners and watchlists. And you can even see how your predictions might affect the value of the stocks youre interested in. Now this is what im talking about. Yeah, itll free up more time for your. Uh, true crime shows . British baking competitions. Hm. Didnt peg you for a crumpet guy. Focus on what matters to you with thinkorswim. Simon pagenaud takes the lead at the indy 500 coming to the green flag, racing at daytona. Theyre off. In the kentucky derby. Rory mcllroy is a two time champion at east lake. He scores stanley cup champions touchdown only mahomes. The big events are back and xfinity is your home for the return of live sports. Davi if you dont open up the schools youre going to hurt the economy significantly. Good news, all schools can reopen. Inperson instruction may fully resume immediately. I really believe our schools are crucial for our kids. There is nothing that replaces inperson learning. Our schools coming back is part of how our whole city comes back. David what the heck is going on . What a change of tune by these politicians. The left is now pushing for schools to reopen in the fall. Whats going on . Lauren i know. I think because public support is there. In new york they did a poll, threequarters of parents said they will send their kids back to the classroom even if its just on some of the days. Its also an opportunity for officials and lawmakers in new york and new jersey to take a victory lap that their policies helped to flatten the curve so they can open their schools safely while other parts of the country cannot. But about half of School Students will learn in front of their laptops this year. They are not going back and you know, there has to be teachers willing to come in to teach these kids because teachers are worried about their Health Concerns for their own family and also, they need child care, too, if they are going into the classroom. David what a change of tune by those folks. Thank you very much, lauren. Staying on education. Lets get a check on k12. They are an Online Education company, just reported huge earnings. Profits were up almost 20 for the quarter. Lets bring in james rowe, president of k12. James, you know, i talked to a lot of parents who say that the first round of Virtual Learning is a big flop. They are not at all appreciative of the Virtual Learning but clearly, you are benefiting from it. What have you learned from this first attempt to go national with Virtual Learning . Yeah. I think the big thing for us is that we have been in this business for 20 years so theres nothing new here for us. I think for a lot of districts, it was a shock to their system. It was new. In our case, it was sort of business as usual. When the pandemic hit, all our schools remained open, kids kept going to class, teachers were still teaching, sort of business as usual. So i think what we learned in many cases is that Virtual Learning can work, but the teachers, the administrators, they have to be prepared. Clearly in the spring, they werent prepared. Hopefully, they are going to get more prepared because there is going to be a lot of Virtual Learning in the fall and hopefully, the districts will be a lot more prepared for the fall. David thats a great point, though. You learned there wasnt enough prep time for the teachers and i have heard that from a number of teachers, particularly in the high schools and so forth, where they are the main administrators. Elementary schools a little different, the parents are still around to teach them. In high schools, its very difficult. Let me ask about home schooling because home schooling is really catching on now. There have been a lot of interest in it before but now more than ever. How does your company help those who want to home school their own kids . We are perfectly positioned for home school families. In fact, k12 was originally started as a home school sort of platform online. So we are really well positioned for families who want to teach their kids at home. We are seeing huge surges in demand right now for exactly that purpose. And we think that its just going to continue. I think youre right, the trend is heading there. I think that the districts, though, going back to the teachers, the districts have to make sure that their teachers are prepared for schooling at home. So while it may not be home schooling, the schooling thats going to happen at home, the districts really need to be prepared for and thats everything from their technology to their curriculum, preparing their teachers. So its a whole ecosystem that has to Work Together. I think when you have home schooling, the parents really get really involved there and our curriculum and our programs are really well married to that environment. David james, im very glad you are doing well. Its terrific news that you are doing well. But dont you have to admit theres Nothing Better than that persontoperson contact in the classroom . Listen, no question, for a lot of students that inperson, inschool classroom is really important. The reality, though, is for a lot of kids, in a lot of circumstances, they do do better in an Online Learning environment. That could be because they need the flexibility of time because they have some special circumstances. It could be because of the health reasons. They could live in a rural area or in an urban area where their safety is a concern, bullying, you know. So i do agree that inperson learning works for a lot of students. But i think we also have to recognize that Online Learning is going to be appropriate for a lot of kids and particularly in this day and age and with the digitization of a lot of industries. I think the rworld is moving towards online everything. Education is just going to follow. David congratulations to you. Appreciate you coming in. We are just Getting Started this morning. Still to come, tammy bruce on what she thinks about a potential Hillary Clinton return. Lawrence jones is with us on the media painting Kamala Harris as a moderate. Does that fit . And former new york Lieutenant Governor betsy mccoy thinks Governor Cuomo is trying to cover up his failures on the pandemic and the Mainstream Media is helping. And it is friday, which means friday feedback is back. Make sure you tune into the end of the show to hear your responses from the week. The second hour of Varney Company is next. Introducing stocks by the slice from fidelity. Now you can trade stocks and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. Stocks by the slice from fidelity. These days, businesses are adapting to new ways of working. And innovation is at the heart of it. Verizon 5g ultra wideband is the fastest 5g in the world, with speeds up to 25 times todays 4g networks. Its massive capacity and ultralow lag time is already available in parts of select cities around the country. Which means businesses both large and small can innovate like never before. Before money, people tools, cattle, grain, even shells represented value. Then currency came along. They made it out of copper, gold, silver, wampum. Soon people decided to put all that value into a piece of paper, then proceeded to wave goodbye to value, printing unlimited amounts of money as they passed the buck to the future. Thats why its time for Digital Currency and your investment in the grayscale funds. Go digital. Go grayscale. I am david asman in for stuart varney, lets take a look at the market, the dow jones and s p recovered but the s p has gone to the red, we are 100 days since the lows of march 23 and the s p has seen its best performance over that time. Since 1933, that is good news. Here are the stocks leading the recovery, paypal, amazon, regeneron for all obvious reasons, talk about obvious, clorox is one as well and netflix, people suck at home and watch a lot of tv, all the stocks are up yeartodate, we call them the lockdown winters. Consumer sentiment is breaking right now with the 10 00 oclock hour, asked you have the number . Ashley i do, this is a preliminary number for august and will have one later for the final, it came in at 72. 8 and the estimate was 72, that is better, the final in july was 72. 5, i call that a solid number. David good news, the latest read on business inventory, we are getting those as well breaking, what is that number lauren . Lauren down 1. 1 , but better than expected may not revive, still down 2. 3 , that was the biggest drop on record, the Commerce Department says because of coronavirus, many businesses are operating on a limited capacity or have ceased operations entirely. So business inventory is down 1. 1 but a little bit better than the expectation. David a little bit better and i take that as good news, joe biden pushing for a mask mandate nationwide. Roll tape. Every governor should mandate mandatory mask wearing, the estimates by the experts are will save over 40000 lives in the next three months. It is not about your rights, its about your responsibilities as an american. Be an untrained a patriot, protective fellow citizens. That is what real leadership looks like. David come in tammy bruce, fox news contributor, tammy, great to see you, donald trump is making history with his moves on the mid east after doing so in the middle east time and again, the killing of baghdadi and ceteraetcetera, real leadershipt masks. These are two individual grasping out a stroke trying to seem relevant but they had to go there because the president has done everything else. Were in a pattern and by the way have been able to survive, its been a rocky road with this unpredictable black swan, the thing that nobody expected because of the strength of trumps economy leading up to this dynamic. We know that the coronavirus, our health, this dynamic is important to every american and as you know this was focus grouped and discussed and discussed at a roundtable and they had a seminar but thats what they thought would matter, the fact is here, you have biden and harris, a perfect example of why trump is president , its a swampy dynamic, the establishment, focus groups everything where everything is artificial and everything is an authentic and to manipulate the American People see it and understand it, courtesy of donald trump and his authenticity and transparency. I cannot wait to see this unfold, the bottom line is, the president said we say here, where a mask when you think appropriate, when you cannot social distance, the American People understand that, we all want to live, we have an interest in that, i think its not leadership, it is pandering. David in bidens america, you go to jail if youre not wearing a mask even if youre alone in the woods, but to get out of jail if you throw iraq at a cop, thats whats happening in seattle and portland, what do you make of that, we havent heard from the biden team on the writing all over america. No, we have not heard from any major democrat or leadership in the Democratic Party, senator harris, no one for some reason is willing to take a stand against this and nancy pelosi, third in line to the presidency, the leading democrat in the country asked about it and said people essentially said theyre going to do with the going to do, that is also not leadership, lets not make a mistake, they did a mask press conference to give the impression that they care about peoples lives. If they did, the first thing theyd be dealing with is the violence that is emerging in the blue cities in this country, many argue because people think its a political advantage for them, thats another reason why they should condemn it to get rid of the notion if it is not true so they can give that impression. David were looking at a seattle congresswoman who has been very critical of the police chief who had to resign in seattle, this woman is not your average middleoftheroad socialist if there is such a thing, shes a revolutionary socialist and she wants to overthrow the entire capitalist class, this is according to her own words, isnt the biden team going to have to answer this direction that many u. S. Cities are going in . I dont know because at the convention at this point, we have been told that alexandria ocasiocortez who is the leader of that wanting to burn down the machine is getting 60 seconds in a taped message, they do not even trust her to be live, Pete Buttigieg is giving a live speech but the former police chief of seattle, remarkable woman would be welcome in any great city in this country, seattle is showing americans what the Democrat Party has become, the democrat team, biden and harris will try to gaslight you on that but we should not let them. David and she is an africanamerican woman being accused of racism at the city councilwoman from seattle. Last one, Hillary Clinton says she is ready to help in bidens administration, watch this. Im ready to help in any way i can, i think this will be a moment where every american, i dont care what party, age, race, gender, every american should want to fix our country, so if you are apt to serve you should certainly consider that. If she wants to help this country, she should step back and tell people and remind them that the Democratic Party has lost its way, she should tell people to support the president if thats what she wants to do to help this country for these individuals, she is a reminder and i would welcome her entry into this to remind every american that she is the old world, the old crowd, the failed issue in the failed experiments that they have done that want to come back, its like you been in cancer remission and is trying to reassert itself, do not let it, these are individuals, donald trump had saved this nation, get us back on our feet and all they want is the power in the influence, they refused to recognize the damage that they did, the nature of our relationship with china, the Chinese Communist party that trump is furiously trying to extract us from so we can continue to survive and get out of this dynamic. I welcome it and it will remind the American People, she should be doing Something Else and she cares about the country which is go home. David tammy bruce, crystal clear, epic games is having an applepic battle with the popular game for tonight was removed from their app stores, bring in gamer world News Entertainment host, great to see you, thank you for being here. Do you consider this to be a challenge to apples app monopoly, thats the way they are putting it. The way i would say this, right now you can make the case that theyve had a pr victory, 1984 video, the free fortnite is trending and i tend to think this might amount to being not only a pr blunder but a strategic blunder, one of the things apple did at the games, they charged a 30 commission on everything that goes through the app store. But this is actually pretty standard within the videogame sector. So it is basically a very tenuous argument that the isaias make. It does appeal to peoples notions of david and goliath story. It most certainly does but i think this is a situation of a pot calling the kettle black. So apple or fortnite is basically accusing apple of these antimonopolistic practices by what theyre doing in the app store but you have to realize that fortnite was designed from the ground up to be everything is possible and in some ways it monopolizes peoples time so it competes, not just competes it out competes all of the games and videogame sectors and it goes against hollywood and social media. Its like the pot calling the kettle black. David is there any truth at all that apple, if not a technical monopoly does have this extraordinary power because of its apt app and if you want to play the game, you have to deal with apple one way or the other, is there any room for competition there . I suppose, dip i yet to lookt different levels, if youre looking apple, they have full control over ios, if you look at google they have full control over android, you can make the case individually speaking they have monopoly within their respective platforms. But that if you look at the broader picture, at the very least it would be digital storefronts by apple and google if you really want to expand it there is also digital storefronts for video games, its a very tenuous situation that they put itself in but quite frankly i think they picked a battle that did not have to be fought. Very interesting, you know the way to play. I appreciate you having on. President trump, next week is heading the battleground states started with pennsylvania, that is on thursday, he arrives in scranton just before biden give his president ial nomination acceptance address, the president will travel to wisconsin, minnesota and arizona, the key states and we will be following it all, chicagos mayor claiming the ruthless looting was a planned attack, could antifa be the one behind this, were asking lawrence jones, a good friend of the show, hes in our next hour and really fired up of about this. Governor cuomo claiming he successfully got the virus under control despite 32000 deaths, no other city comes close to that horrendous record, this is the second worst virus death rate in the nation, newarks former Lieutenant Governor betsy says cuomo botched his response and is trying to cover it up, she will make her case in the next hour, first we have a guy who says, harris is on bidens ticket to cover up his racism. 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Now thats simple, easy, awesome. Say xfinity sports zone into your voice remote today. I have more people supporting me in the black community because they know me, though only black africanamerican woman thats only been elected to the United States senate, a whole range of people that is not true. If you have a problem figuring out whether your for me or trump and do not black, unlike the Africanamerican Community with notable exceptions, the latino and candidly is an incredibly diverse community. With incredibly different attitudes about different thin things. Imagine if the republican had said any of those remarks, that was joe biden making very controversial remarks about race and sadly not his first time making questionable remarks, lets bring him parents williams from the foster house to the white house author, great to see you, im wondering do you think, was picked to cover up bidens very highly questionable remarks on race . Absolutely yes, he has been in hot water with the black community, he has said hurtful things about us telling us we are not black and we dont vote for him and we are not black if we dont think like him, so he is trying to cover up his racism by having Kamala Harris as his vp, he is using her as a human shield, this man is not getting the black vote and hes trying his hardest to get in november but it is not happening. David you say his remarks are racist . Fought out racist. Imagine if president Donald J Trump would have told black people that they are not black if they dont vote for him, imagine if President Trump told black people that they are not diverse like latinos or white people, we would not hear the end of it, this is total racism. David you really hit on the point that his idea that theres no diversity or thought among black americans when there are plenty of black americans who think differently from the Democratic Party line by line. Yes, he needs to understand that he needs to understand just because we are black does not mean we have to vote democrat, he is not entitled to our vote, he has to work for the black vote, he has not done anything for the black community in his three 4 decades been in office, but he thinks he can wake up and get the black vote without doing anything, no joe biden, you have to work and you have to do something, you dont own my vote. David there was one aspect that i thought was interesting that shows biden leads truck nationally, a lot of people believe that their neighbors are supporting donald trump, putting the president on top at 39 to bidens 34 , if more plurality of people think their neighbors are voting for trump rather than providing, doesnt that tell you something about these polls. It tells me that we cannot trust the polls just like in 2016, the polls say Hillary Clinton would want to be the president of the United States of america but president Donald J Trump is the president right now, not Hillary Clinton, we learned we cannot listen to those polls, they are not real, ive never participated in the polls but there telling me im going to be voting for joe biden and that is not happening. David frankly, the charge of racism or if your for donald trump your our races has become such a part of the meme of the narrative these days that you dont know who is on the other line of the phone and it might be somebody calling up to check whether your for donald trump or not, theres a lot of people who have suspicions whether they validated or not, the suspicions are there, they dont want to admit that therefore trump if they are. They dont want to admit because people are crucifying you for coming out as a trump supporter, i received so much hate coming out as a trump supporter, they have vilified me, people called me names, uncle tom, the fbi has reached out to me to ask if i needed protection because i have received so many Death Threats for being a trump supporter. David it is unbelievable, it really is a throwback to the mccarthy era, youre just exchanging the word trump or racism for communist, it is the same kind of mob behavior is an. It is a mob behavior, when will we go back to the time where we can all disagree to agree that it is okay to vote differently than your neighbor, it is okay to be different than your neighbor, that is okay, we are entitled to our own beliefs and opinions, this is america but i will not let these people scare me to not vote for President Trump because we need to save america and keep the American Dream real in this country. David stay strong, good stuff, good to see you my friend. Thanks a lot. Check the markets, the dow and s p are down but the dow has improved substantially since the market open but the nasdaq has gone south, its down a half a percentage point down below the 11000 mark to 10987, Morgan Stanley upgrading tesla and hiking his price target to 1360 a share, bank of america upgrading the stock and they doubled th the price target, its been on a tear lately and currently trading up 13. 70, thats a little less than a percentage point. I california judge denying a delay for you were in left which couldve seen the ride shares shut down in the state, though stocks are both down over a percentage point, lift is taken the heaviest hit today. Moving on, take a look at amazon, a California Court has ruled it can be liable for defective goods, lauren makes some sense of this forest before in a nutshell, a caput amazon as traditional retailers, California Fourth District Court of appeal saying amazon could be liable for defective goods sold on insight even through a third party. , what that means amazon may no longer be shielded from Product Liability lawsuits in california, this could have huge ramifications because of marketplace for millions of third parties sell their goods, that is 60 of all amazon ecommerce sales. So if amazon is held responsible for injuries, it conveys more litigation, its business practice, where are they under the microscope in california and other states, the eu and we have news coming in that the antitrust in canada is now probing amazons conduct in the marketplace. So all around them amazon is being questioned and investigating by authorities. David regulatory headwinds, they will push on about amazon plows through, thank you very much. We work is getting a big investment from softbank, havent they already poured billions into we work . Yes they have after the disastrous and ipo, then a massive management mix, a shakeup, that is for sure they obtained another 1. 1 billion from the majority owner, however, after the disastrous debut of this company, they say they are on track and they have been going through an exercise and eliminated 8000 jobs, they sold off a lot of their business units, now they say they expect to have positive cash flow and profit net year, a year ahead of schedule, you would think that someone operates these types of Office Sharing would be doing terribly in the pandemic because everybody is stuck at home, they say not so another Big Companies are using this to you satellite offices where people can meet once a month in the city but spend the rest of the time at home and they have 61,200,000,000 members in their portfolio which 48 of businesses over 500 employees. Yes it is been a huge struggle but they say they will be profitable next year, we will see. David talking about the struggling cities, billionaire activist carl icahn officially ditching new york city, he has been teasing about this move for a year end he finally pulled the plug. Ashley he finally has, he says i am out of here, it is interesting, he says he only has 50 employees but he said if you follow me down to the miami ar area, he will be into a Sunny Isles Beach in miami with a 14 Story Office Building called the milton tower, he said if you come with me you get a 50000 relocation package, im not sure how many have gone with him, what is interesting hes 84 years old and he says hes making this because he wants a warmer climate and a slower pace of life, yeah right, what about the taxes, ever since the 10000dollar cap, i think he and many others are getting the heck out in florida is a popular destination. David you get a 50000dollar bonus for moving down and then you dont pay any taxes, sound like a good deal. Thank you very much. College football not playing ball until at least 2021, trump 2020 guide steve cortez says its not because of the virus or the health of the players, it is because of politics, that is who hes blaming and how make the case in the next hour, the relationship with china worsening, trade talks scheduled for saturday, i want to know what will come out of that meeting, were asking gordon chang and he will reply later this hour 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. Shingles doesnt care. I logged 10,000 steps today. Shingles doesnt care. I get as much fresh air as possible. Good for you, but shingles doesnt care. Because 1 in 3 people will get shingles, you need protection. But no matter how healthy you feel, your immune system declines as you age, increasing your risk for getting shingles. So what can protect you . 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David lets take a look at the market, dow jones is improving, nasdaq is not so, tech heavy stock index is down below 11000 trading at 10977 and s p is down just a fraction, stocks are coming off, the best 100 day stretch since 1933, that was in the middle of a depression, dennis garman, do you see this rally continuing . As long as the authorities continue to be expansionary and i see no reason that that will stop, the trend is on the lower left to the upper right, it stuns me and its astonishing that weve been this far as we have anytime you stand in front of it and mosher down and anytime you try to be sure it makes you look foolish, you still have to own up on stocks, do i think theyre expensive, do i think they could fall, absolutely but am i going to feed the trend . Not with your money and certainly not with mine. But you look at the effects of that, both under both Monetary Policy and the spending inside the beltway and everybody spending like crazy, he is spending a lot, that has an effect on gold, it is down a little bit, actually is a down today, i think it is down a little bit today, it is down 17 bucks today but still well above 1900, 1953, where you think it goes from here . Ive been bullish for gold for a long period of time the expansionary monetary policies by the fed, the by the European Central bank, by the peoples bank of china, by the bank of russia, every monetary around the world is expansionary and that has to be in the long run bullish of the gold market, there are times where you should be neutral and bears a bold but right now its been a long bull market and it will continue and i set aside a couple of weeks ago when the front page of the newspaper carried articles of the radio and tv show is beginning with a discussion of gold when we got almost a 2100 per ounce so i stood on the sidelines in tuesday i was a buyer again on the 150point decline, i have no choice, when you break it the hard i had to come back, during own as much as i have, no and i want to buy more when we get to these points, i think gold continues to go higher in five years it can be demonstrably stronger. Its 1952 announced, what would be the price point where you would buy even more, 1900 . If we got down to 1925, i would be a bias, fridays are. The weakness for the gold market for the last few years, im interested in buying a little more here today, you got down to 19 or so in the next two or three days no question id be a buyer. You give us the price points, i love it but dont fight the tapes, great to see you. Thank you very much. Nova backs, the company has agreed to a deal that would provide 60 million doses of a vaccine to the united kingdom, the stock is trading up over 11 and American Airlines plans to cut services to smaller cities as the government aid gets closer, flights and up to 30 cities could be canceled altogether and here is draft kings, the Sports Betting company reporting more revenue last quarter but the prophet disappointed is down over 6 close to 7 . After closing for months, amc now plans to open over 100 of its theaters starting on august 20, i heard there are very cheap tickets on opening right . Yes there celebrating 100 years in business by selling movie tickets at 1920 ticket prices, 15 cents, would you go to the theater right now if a ticket were 15 cents, its only good for the one day, august 20, after that tickets are still going to be cheap, five bucks, there is not much to show, so your spending money to see an older movie, hollywood is at a standstill right now, the first new film to hit the big screen is ten and thats not till the third of september. Its 15 cents or 5 is attracted to you, then you can go see a theater and these are some of the changes that you can expect to see, everyone got aware mask, new ventilation systems, limited seating and if you want popcorn or m ms, place your order on your phone. David 15 cents, i think they will be sold out. Walmarts around the country are turning their parking lot to a drivein Movie Theater starting tonight, bringing christina, she is in a theater in linden new jersey to give us details on how this works. Hi christina. I dont know about you but ive been inching for a night out and none of my local cinemas are open which is why these drivein Movie Theaters are becoming the new hot past time in retail giant walmart is getting into the game, the transforming this entire parking lot into a drivein Movie Theater and theyre setting up the black screen right now, they will be showing Steven Spielberg et at 7 30 p. M. , it is completely free, walmart has announced they will do this through october 21 at 160 different locations, they will showcase 320 old movies from wonder woman, madagascar, even spacex. But they will be competing with amc and Regal Cinemas that are opening up next week in those theaters as well will be showcasing older films but you can see what is going on, you have to get your tickets online and you have to register, right now they are sold out but the differences, you can do this all from the beauty of your car, social distancing, the only thing you have to do is get out to go to the bathroom but walmart is keeping the doors open until 10 00 p. M. At least you have that distance going if your little concerned of going into a Movie Theater the show not about to begin but beginning with s. You said it and you said it perfectly, people are dying to spend the night out in a town and this is as close as we can get these days, it does look appealing. Thank you very much, appreciate it. Trump and biden at odds over the Postal Service. If we dont make a deal that means they dont get the money and that means they cannot have universal mailin voting, they just cannot have it. Its a crazy thing. Lets go, lets go. David he does not want an election, whats his beef with the usps, we will cleared up with trump 2020 steve cortez in the next hour and stimulus talks held up in congress, the next round of relief checks may not make it before september, what is up with that, i will ask the question, more varney after this 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. The American People need more help, coronavirus is not finished with her country so congress cannot be finished helping our people. Republicans have been waiting and trying to pass bipartisan relief, literally four weeks. I would hope our democratic colleagues would let the tenant act sometime soon. David that is said it Majority Leader Mitch Mcconnell urging lawmakers to Work Together to pass another virus relief package, lets bring in senator bill cassidy, republican from louisiana, senator congress is not going to be back until september but you have these executive orders of the president to get these extra rounds of stimulus checks out, do you think the president one on this one . If they dont follow executive orders, the unemployed, i was told the good policy is good politics. In the sense American People are hurting, it is clear that pelosi and schumer want to leverage their pain to get a lot of things covered that are unrelated on appointment, the president has put forward something that helps out pain, good policy in this case is good politics. David so he one . In a sense yes, but more and partly the American People want, im not focus on the president and focused on the American People, but because we did something for them is good for the president , hes the one that made it happen. David i want to put a fine point on it, the unemployed will get the federal bonus check of 300 from the feds and hundred dollars from the states in the employed will get that reduction in the payroll tax, the tax holiday. Correct, into deferral, they will eventually have to pay it back but should they choose to take the deferral, yes they will and again, the president is just try to put money in peoples pockets and people who are hurting, we can pass on employment right now, if ms. Pelosi and Chuck Schumer would agree to it, we could pass as a standalone bill as well as stimulus checks as a standalone bill but they want to include in the package to get the overall agenda, not to meet the immediate need. David is not important as unemployment checks but a lot of people care a lot about football and i know youre an lsu grad, there is a lot of football season being canceled, what do you think about this . I think if the medical science says that you could play safely, we should allow them to play, if you test an athlete three times a week, you will know if she or he is positive, if the positive Recording Team if not they play. That is just what the science tells us. The athletes want to play, think about joe burrell, last or he wouldve been amid six round draft pick getting a contract for 300,000 maybe and now hes number one overall, the opportunity calls for these athletes to not be able to further their career is tremendous. By the way we could also say that for the accounting grad if the accounting grad cannot graduate and go into a job that all the money she has borrowed to set up her career is lost, i think we need to look at the opportunity for students at whatever level as folks continue to argue about whether or not we should reopen. David you talk about science, youre also a doctor, we should mention the more distinguished title you have is doctor, what do you think about joe bidens call if these president he would order masks to be used across the nation, what do you think about that. Is a government for the state to have a government diktat, imagine youre in a county that does not have any reported cases, like montana but you will be forced to use a master matter what. , if not theyre coming after you. At some point, science has to rule and not rhetoric. Rhetoric would be make people wear a mask, science would say if youre at a green level, there is no reported cases in your county, you basically suppressed 20, then you dont have to wear a mask. By the way i wear masks because im not in such an environment but i do think that the medical sciences dictate not somebody running for senate. Exceeding 70 running for president and Vice President because they think its as good as a soundbite. David we are constantly hearing the rhetoric coming from the democrats that this president and this administration is not motivated by science, is motivated by politics, do you think that is a projection going on there . Im always amused, they say President Trump is authoritarian until wait a second he doesnt do a National Mask mandate and evening counties when the rate is 0. So whatever narrative works for them, they are going to pick up on, and fact as someone says they are wishing, Chuck Schumer in nancy pelosi by refusing to agree for more money for testing, independent of other things is like they want this to go on longer, if nothing else they should agree to money for testing because thats how we safely reopen schools, if you really want to help the American People and their pain and you want to drive and fitted down to 0, lets take out testing and take out unemployment, lets address those immediate needs and we can argue about other issues like the post office in marijuana later. David thank you, thank you for coming in. Some breaking news, President Trumps younger Brother Robert trump has been hospitalized in new york, hes described as being very ill, the president is expected to visit his brother later today. We wish him the very best, Mortgage Rates record lows but refinancing just became more expensive, the coronavirus consequence is being imposed, whatever that is we will give you details coming right up but first trade negotiations with china happening tomorrow but is anything really going to come out of these negotiations, the relationship between the u. S. And china is worsening and we will discuss with gordon chang coming up its easy to get lost in the economic uncertainty. The volatility. The ambiguity. The moment calls for more. And Northern Trust delivers more. With specialized expertise. Proven strategies rooted in data and analytics. And insights borne from over 130 years of successfully navigating economic turbulence. Giving you clarity. Inspiring confidence. And helping you uncover new paths forward. Northern trust. Wealth management. David check the markets, we have a little green on the screen, the s p is barely fractionally up a little bit right now, the Dow Jones Industrial almost at a flat line and nasdaq has approved as well, were looking for friday afternoon rally to come, meanwhile the relationship with china is the worst it has been in decades but the two countries will meet this weekend, heres what white house Economic Advisor larry kudlow had to say on the relationship, roll tape. I am not saying they will make good on all parts of the deal, we dont know that yet, intellectual property, the president is in a sour mood regarding their very bad performance and lack of transparency with respect to the coronavirus, with respect to their taking freedom away from hong kong and indiana deal that was 50 years old. David bringing gordon chang, the author of the coming collapse of china, what do you think will come out of this meeting. The Virtual Meeting between the two trade representatives probably will produce very little, china has been buying u. S. Agricultural products but it has to, because of the floods and also because of the diseases including the diseases of affecting chinas crops, in terms of Energy Purchases and purchases of manufacturing goods i believe there still far behind, theres a lot to go in terms of chinas compliance with the phase one trade deal. David what is happening with their fight against the virus, i dont really trust much of what comes out of the Chinese Communist party, is any way of knowing what is going on in that front . Theres very little in our way of knowing, the reason is that beijing has enclosed unprecedented information control, we know that there are outbreaks from place to place including beijing, what they call the northwest, i think that they essentially have more or less got chesters but it is probably a lot worse than they are saying, the reason is right now, they have been posed with extraordinary controls on movement of people and as you could expect in a totalitarian or semi totalitarian society, they have been able to get a number of outbreaks under control but still its an ongoing problem for them. David next case, media entrepreneur and hong kong, prodemocracy advocate is out on bail after being arrested by the Chinese Communist party, he told him to not hopeful that things will change, we have a soundbite on that. I think we have the soundbite, here we go, im afraid we dont, thats the essence of what he says, he is not very helpful, are you that things will change in hong kong . Beijing seems to be winning because of the arrest of more than 20 people under the newly imposed National Security law, but hong kong people are resisting, for instance with regard to jimmy who is the publisher of the main prodemocracy newspaper in the territory, they ran up the shares of next digital which owns out the daily by 1100 in one or two days, they have been buying a lot of papers off the street, as a way to show their protest to china, i think china has bought a longterm struggle, right now in hong kong you have an insurgency, beijing is winning at the moment and with all insurgencies, they come back and i think china will have real problems trying to rule hong kong. David i do have think they have problems, jimmy, its a good people on the opposite side of where the Chinese Communist and theres no question, thank you very much. David the media going soft on Kamala Harris, painting her as a moderate even though she has a record of being one of the most liberal senators there is, even more so than Bernie Sanders, we will show you the proof, a big lineup of guest starting has starting with lawrence jones, hes fired up about the looting that is destroying chicago, former Lieutenant Governor betsy is here and says Governor Cuomo failed new yorks virus response and then there is trump 2020 steve cortez, he is also coming up, he is not happy that College Football is postponing the season, he says it has nothing to do with health, all about politics, the third hour of Varney Company right after this get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. vo because we know you want to get back to going your speed. Steering life at 10 and 2. Youre prepared for this. And so are we. 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Discover if a reverse Mortgage Loan is right for you. Use it to eliminate monthly mortgage payments and increase cashflow, create an emergency fund, preserve Retirement Savings and more. Call now for your free information kit. That first reverse Mortgage Loan meant nellie could stay in the home she loved so much, with memories that meant even more. A reverse Mortgage Loan isnt some kind of trick to take your home. Its a loan. And its taxfree cash just when you need it. Its about making your retirement better. 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 david it is 11 00 a. M. On the east coast. Im david asman, in for stuart varney. The markets are off today, but just a fraction on all of the indexes. As they come off their best 100 trading days since 1933. Thats pretty good. We just learned manufacturing output rose 3. 4 last month. Thats higher than expected, due to an increase in auto production and other reasons. Retail sales, more of a mixed picture, rising just over 1 in july, possibly due to rising coronavirus cases in some areas around the country. All right. Well, keeping on retail, Simon Property group, largest mall operator in the country, lauren, they are buying up the bankrupt retailer lucky brands. Tell us about it. Lauren yeah. You know, lucky brands rescued from bankruptcy by a team of, yes, Simon Property group, but also the Licensing Firm authentic brands. They have been working together for about four years now. Its a 50 50 partnership. This deal price is about 140 million. Not sure how many lucky stores will actually close, how many will be rescued but the companies do say that lucky has brand name appeal, especially with younger shoppers, and they are going to figure out how to maximize that by determining who it sells to, which other stores they put lucky jeans in, and also the lease deals they can secure. So Simon Property group shares up 3 on this news. David lauren, thank you very much. Back to politics. The Mainstream Media has been positively fawning, to use a word stuart loves, over bidens choice for Vice President. Senator Kamala Harris. Just watch this. Ever since joe biden announced senator Kamala Harris as his running mate, allies of donald trump on the far right have been melting down. Let us study, you know, in diversity within a ticket. The combination of joe biden and Kamala Harris standing behind a National Mandate was the words of leadership we have not heard for three years. David time to bring in lawrence jones, fox news analyst. Lawrence, you know, theres one index of her voting record that says she actually had a more progressive voting record than Bernie Sanders did. So how is that a moderate stance . You know, i think its confusing for a lot of people when you look at the rhetoric versus the actual voting record. I think what we see right here is this is what the media pretty much wanted, to have this narrative, but the voting record shows something different. One thing i would draw peoples attention to is not only the voting record, but the reason why progressives have such a why shes getting this moderate spin is the way she governed in california. She was a tough prosecutor. She went after people. She suppressed evidence and so a lot of people within the criminal Justice Community that want reforms done say okay, you operated like a moderate as an a. G. But when you got to the senate you changed the way you wanted to govern because you were setting up yourself for your president ial run. So what i would encourage people to do is do what Kamala Harris sorry, Kamala Harris would do. Shes going to prosecute the case against donald trump and i would urge people not to go personal, but to prosecute the case against her when it comes to the victims and i would point to a lot of black males, you will see them very troubled with this candidate because of how she not only with the combination of the policies that joe biden advocated for but because the way she acted as an attorney general. David you know, she also has problems in analyzing certain pretty straightforward legal issues like, for example, michael brown. She takes blms position on that, black lives matters position that he was murdered by cops even though president Obamas Justice Department Said theres no facts to back that up at all. So who is she going to believe . Black lives matter or the obama Justice Department . Yeah. I think she should go with the facts of the case and its not just the obama Justice Department under the leadership of eric holder but the community statements. I was down there on the ground reporting on this. You know, there was a lot of narratives that were spin out of this of that case but what we found is the people that were on the ground, not only talked about what he was doing in the community, but what happened that day and some of those victims experienced retribution from Different Community members because where they stood on this. Kamala harris is going to have a tough time, but i would caution the president , if this is your opponent is joe biden. They want this to be a President Donald Trump versus Kamala Harris. Dont go into that trap. David dont buy it. Dont buy it. I want to switch off of kamala for a second and talk about a Seattle City Council woman. Im sure you saw this. She just fired off a tweet. This is, by the way, a really radical socialist. She says about their departing police chief, carmen best, quote, bests actions like most Police Chiefs and supported by most politicians were guided at all times by loyalty to the status quo and willingness to do the role of police under capitalism. Defend deep inequality through ongoing repression of poor marginalized communities of color. This is a Council Woman who is criticizing the first africanamerican police chief in the city of seattle, implying that she is somehow racist. How would you respond to this . Its extremely frustrating to see this. Carmen best was not just a reformer, but shes also one that was able to produce reforms with the support of the rank and file as well. Shes often criticized by the progressives because she didnt do it their way. But she was very strict. She didnt play any games but she also wanted to make sure that the community was safe. As a result, they are getting rid of her. And when i say getting rid of, they set a hostile working environment for her. They did not give her the support she deserved. They cut her salary, okay. This is the first black woman, not just black woman, black chief, in this city. What were seeing is record crime in this neighborhood, in this city, and its not just seattle. I think this is a model for the entire country. I have been to new york. I have been to chicago. I have been on the ground in portland. And i have been in seattle. Theres a growing theme with this leadership that they dont want to just have reforms. They want to defund the police. They want all morale gone from these Police Departments and as a result, you are going to see skyrocketing crime. Look at new york city. When they got rid of the anticrime unit, the shootings up 177 . Is that really what america wants . I would argue that its going to be a defining moment in the next election. Its one thing to say you want reform. Its another thing to say that you want to defund all cops. David you know, it should be a defining moment in the election because this is an important issue that affects everyone, not only those living in the cities, even those living in the suburbs. It should be a defining moment. By the way, i would just make one correction. This woman, this Council Woman in seattle, is not a progressive. She is a revolutionary marxist. She wants a revolutionary change in america to get rid of the constitution and all other vestiges of what america is. This is the new standard that started on the College Campus with the academics. They are putting it in the books for our kids to read. Now they are doing it now in leadership. This is why i caution everyone when they made fun of aoc and Bernie Sanders, they have a movement, they just unseated two progressive democrats in missouri and in new york. They are coming back with another squad. They want to transform this country. Its not just a debate on philosophy, right. They dont like the way america operates and they want to take this country to a place that is quite frankly antiamerican. Quite frankly, there are a lot of black folks dont support this. They trying to target the black community through the pain and the suffering because no one cares about the broken education system, the poverty thats going on in the community and there is a void there. I would argue, republicans, if you really want to defeat this, you got to give these people in these communities that are hopeless an alternative. David think of all the black businesses that have been destroyed by whats happened in the past three months in america right now. You can figure out whether its good or bad for the Africanamerican Community. Lawrence jones, great to see you, my friend. Thank you very much. Appreciate it. Some stocks making headlines. Draftkings, bad news just keeps on coming for them. They just reported earnings. Revenue may be growing year over year, thats a good thing, but they are losing a ton of cash. Thats why their profit disappointed due to game cancellations. The stock is down about 5. 5 right now. Amazon, a bunch of retailers and trade groups now coming together to fight back against counterfeit items on the site. They Want Congress to put forth legislation that will require Third Party Sellers to verify all of their information in order to list on the site. The stock is down a little less than a percentage point right now to 3,136 per share. Next one, apple, they are inching ever close to that 2 trillion market cap. How close . Lauren about 14. The number to watch is 467. 72. But look, apple just raised 5. 5 billion with the new bond sale. Are you scratching your head . Are you saying why, theyve got billions and billions and billions of dollars in cash. At the end of the month, they could see renewed interest in their stock when it splits. But yeah, they are completely taking advantage of low Interest Rates to borrow for next to nothing. They will use the money to do things like buy back their own stock or pay dividends. They are not the only cashrich tech company to do this recently. Amazon and alphabet have as well. David why . Because they can. Thats why. That simple. Lauren because you can. Get while the getting is good. David tesla is on a tear the past few days, once again in record territory. Ash, whats going on . Ashley yeah. You know, this stock remarkably has doubled just in the last three months. We look at the price now, 1647. The record intraday is 1749. Got in a couple nice price target hikes from Morgan Stanley and bank of america. Morgan stanley saying there is plenty of room, perhaps, for this stock to grow because of the electronic vehicle Battery Supply business. They believe tesla could be a real disruptor in that part of the market. They have their big battery day on september 22nd and for tesla fans, certainly in china, we are seeing the demand for the model 3 exceed expectations in china. So yes, its an electric vehicle company. Yes, theres been so much speculation, but this stock and now more analysts are starting to jump on board. David . David unbelievable. Never stops. Thank you very much. Well, new york city, you have been hearing a lot about this, seeing an 87 spike in new real estate listings in july. This is compared to a year ago. What happens when all those homes and commercial properties go on sale at the same time . We will find out. President trump says he opposes funding for the Postal Service because of mailin voting but joe biden claims its because he doesnt want an election. Thats bidens charge. We will get the Trump Campaigns reaction to that coming up. First, 32,000 people have died from the coronavirus in new york so why is new York Governor Andrew Cuomo praising his response as a success . The Lieutenant Governor of new york calls it an abject failure. She joins us next. Apps except work. Rywhere. Why is that . Is it because people love filling out forms . Maybe they like checking with their supervisor to see how much Vacation Time they have. Or sending corporate their expense reports. Ill let you in on a little secret. They dont. By empowering employees to manage their own tasks, paycom frees you to focus on the business of business. To learn more, visit paycom. Com vo audi etron. Vo the next frontier of electric. Get an exceptional offer at your local audi dealer. Yeah. 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We are now 180 degrees on the other side. David there are going to be a lot of things in that history book. He mentioned some of them but Betsy Mccaughey mentioned some others. Governor andrew cuomo touting the taming of the beast. That is, of course, the virus. Our next guest has an oped in the New York Post saying his state and new jersey failed miserably in attempts to save lives early on in the pandemic. Just take a look at their death numbers and they are awful. Come in, Betsy Mccaughey, former Lieutenant Governor of new york. Hes getting, of course, a lot of help from the Mainstream Media, who is very quick to completely avoid talking about issues like the Nursing Homes and the abject failure there. And the numbers may be even worse than what we have already heard, right . Well, thats right. I looked at these numbers very closely and your viewers can look at them. There are places where you can go every day and see all the states, compared to all the countries, compared they are on the Johns Hopkins website. The Mainstream Media keeps lionizing andrew cuomo and saying all the other states in the country should engage in these rigorous lockdowns the way new york did and new jersey. In fact, new york and new jersey are still locking down most of their businesses and museums and things even though the infection rates there are now quite low. Thats why i looked at these numbers because these lockdowns dont work. When you compare new york and new jersey with the rest of the nation, these two states have the highest per capita deaths in the country, 32,000 people died in new york from the coronavirus, 32,000. When you compare that, for example, with florida, the New York Times keeps slamming ron desantis, the governor of florida, saying hes made, this is the words they use, stupid, deficient, but the back fact is you are in florida you have a much better chance of avoiding death from the coronavirus than in new york. Florida is a more populous state but only a quarter as many nursing home residents have died in those states from coronavirus than in new york. So cuomo is touting himself as the great savior who tamed the beast but in fact, if you lived in new york, you were really a victim of this disease david talk about specifically bad decisions. The decision that forced the Nursing Homes to take covidinfected people back in the there. I asked janice dean what she thinks. By the way, janice dean who works for fox news, of course, both of her inlaws died because of that decision that was made by andrew cuomo or at least thats what she claims, she was not allowed to appear before a group that was investigating this in new york, and cuomo himself has canceled any further investigation into that decision. Its a coverup. David it is a coverup. A terrible, immoral coverup. But going beyond that, let me just point out that the Mainstream Media and biden and harris did this as well in their announcement a couple of days ago, they are saying the u. S. Is doing much worse than other countries and they are blaming it on trump. They are trying to make this election about the coronavirus. But when you look at the numbers, david, you will see that per capita death rates are higher in the united kingdom, higher in spain, higher in it y italy. A New York Times columnist wrote if only the u. S. Could be like italy. People who are in italy and get this virus are three times as likely to die from it. David thats the point. The fatality rate in these nations in europe of those who have had the covid is much worse. Sometimes its over 11, 12, 13 and 14 , whereas in the United States [ speaking simultaneously ] david i just want to talk about the schools, if i can. In new york city, each school will have a nurse when they reopen this fall but teachers say they arent ready to come back. Should the city give them more time or not . Its unfortunate that deblasio has not properly prepared the schools and they may, in fact, need more time. But it is a terrible mistake to close schools across this nation because the data, the real numbers, show that children are very unlikely to succumb to this virus and extremely unlikely to communicate it in their family to older people like parents and grandparents. So the risks to children from depriving them of inclassroom education is far greater than the dangers posed by opening the schools. David very quickly on masks. What do you think of bidens proposal that we need a uniform code all over the country that everybody has to wear a mask for the next three months . This is a big mistake because our country is the size of a continent. Its like imposing a mask requirement on the entire european union. The governors should make these decisions because whats happening in new york is far different now from whats happening in texas or florida or california. Theres a reason in a country as big as ours that we have a federal system and trust our governors to make these decisions. David yep, absolutely. Betsy mccaughey, appreciate it. Thank you very much. Staying on backtoschool, uniform buying is usually big business this time of year but obviously things have changed. Come in, grady trimble. Hes at a uniform store in illinois. Grady, how badly are they hurting right now . Reporter well, sales are down about 50 at this uniform store. They provide uniforms for schools across the country, about 1,000 of them. Here in chicago and in the state of illinois, there are schools still going back, mostly private schools. So that bodes well for businesses like this one. National Retail Federation actually says parents are going to spend more this year on backtoschool supplies. Thats because they are buying things Like Computers and accessories for their computers instead of the less expensive stuff like binders and folders and pencils. I want to show you some numbers from the Retail Federation. 85 of backtoschool shoppers are still doing some shopping, at least as of last month. About 45 , i should say, dont know what to buy which is a huge struggle right now. Do i buy a backpack, is my kid going to need it, i dont know. The owner here says because of that sales decline, if kids dont start to go back to school in the fall, they could be in trouble. Listen. These kids dont go back this fall and i have to carry all this inventory through the slow season with the normal overhead that we have incurred over the years, it would be it would be significant, significant problem for my company to be able to do that. Reporter and speaking of this inventory, School Uniform Companies Buy that inventory a year in advance in a lot of cases so they have had this stuff long before coronavirus was even a thought in our minds, and now they dont know if they are going to be able to run through it all this school year. David . David wow. Best of luck to them. Grady, thank you very much. Appreciate it. Speaking of staying at home, this is a little bleak. Lauren, fisherprice is rolling out new pandemicthemed toys . Lauren yeah. You know, life has changed when its being documented by a toy company. So fisherprice is launching these three new playsets that let kids mimic what they see mom and dad doing at home. This is the my office set. It comes with a laptop, coffee store, you basically organize your house. You work and do this. You walk the dog. Then they have them working out at home, you are looking at it. Dumbbells and gym equipment and a kitchen set. They sell between 15 and 25. But where is the chaotic house set . Thats what we need. It was nuts in my house. Dad with the whiskey, mom with the glass of wine because thats whats really going on at home right now. David all right. We are laying it all out there. Good stuff. Absolutely. Absolutely. I love your honesty. Thank you very much. Well, air travel is down about 71 from last year and travelers, well, they are getting desperate. We will tell you the surprising thing that they are buying now while waiting out the virus. And senator Kamala Harris is very vocal about her liberal ideas. Roll tape. I support a green new deal. I believe the solution and im actually, i feel very strongly about this, we need to have medicare for all. David does that sound moderate to you . Why is the Mainstream Media painting her out as a moderate with views like that . Thats next. Introducing stocks by the slice from fidelity. Now you can trade stocks and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. Thats why ive got the power of 1,2,3 medicines with trelegy. The only fdaapproved, oncedaily 3 in 1 copd treatment. With trelegy and the power of 1, 2, 3, im breathing better. Trelegy works 3 ways to open airways, keep them open, and reduce inflammation for 24 hours of better breathing. Trelegy wont replace a rescue inhaler for sudden breathing problems. Trelegy is not for asthma. Tell your doctor if you have a heart condition or high Blood Pressure before taking it. Do not take trelegy more than prescribed. Trelegy may increase your risk of thrush, pneumonia, and osteoporosis. Call your doctor if worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain occur. Think your copd medicine is doing enough . Maybe you should think again. Ask your doctor about oncedaily trelegy. We know times are hard and were here for you. Find support at trelegy. Com. Guys guys safe drivers save 40 safe drivers save 40 safe drivers save 40 thats safe drivers save 40 . It is, thats safe drivers save 40 . Hes right there. Its him safe drivers do save 40 . Click or call for a quote today. David welcome back. Heres another pandemic winner. Dicks sporting goods. Ashley, why are they doing so well . Ashley well, its interesting but they have done very well with their curbside pickup. In fact, about 90 of the orders are available within 90 minutes and that has been embraced by consumers, apparently. This stock up, what, 16 now for the quarter and there are very much lower margins higher margins i should say on pickup compared to delivery because the cost is a lot less. Someone orders online, comes, picks it up. Good for Dicks Sporting Goods. A survey showed that a lot more consumers are now buying their sneakers at Dicks Sporting Goods this time around versus last year. That has given them another boost. But more interesting than anything else is they are opening 11 new stores, at a time when brick and mortar is just barely hanging on. 11 stores in nine states. They are continuing to pay their employees a 15 premium for working through the pandemic. That will last until the end of the year. Yeah. Its been a good story for Dicks Sporting Goods. They have been very nimble in adapting to this new landscape. The stock price in the last three months has certainly shown that. David nimble and generous to employees. Good people. Thank you very much. Well, now check those Sports Betting stocks. Lauren, the owner of Sports Illustrated wants in on the action, right . Lauren yeah. They sure do. So thats authentic brands. They want to license the name si best working to ink a deal with a Sports Betting company this year. Why . You boost Digital Traffic at a time when advertisers are pulling back because of covid. The Sports Illustrated name is iconic, probably one of the most recognizable out there. If they get into Sports Betting, that could be a big win. You also have Penn National with barstool sports, they are launching in pennsylvania next month, a Sports Betting app. Even though there are limited sports, betting seems to be where its at. David all right. Thank you very much. Keeping on sports, the ncaa is canceling all fall sports championships. Our next guest says the decision to Cancel College sports is really all about politics. Lets bring in steve cortes, Senior Adviser for strategy for the Trump Campaign. Lay out the case. David, thank you for having me. Look, i think its clear that it is about politics because we know that its not about science or health of these young student athletes. These young, strong, vibrant athletes are the very definition of people who are overwhelmingly not vulnerable to this virus. The risks of them having dire Health Effects from playing College Sports are quite small. At the same time, we know that the leaders, the administrators and faculty members of universities, overwhelmingly lean hard to the left. For example, harvard crimson, the Student Newspaper of harvard university, did a survey of the faculty of that school. 80 of the faculty identified as liberal. 1 identified as conservative. So it seems to me that these education bureaucrats, these pinheaded dilettantes who run our universities have an agenda here. Its not an agenda of he will fhe will for athletes. Its an agenda to cripple our country psychologically and they are using young people as pawns. They are willing to steal a season away from College Football and other sports not just from those Young Players but also from the millions of fans, the alumni and adoring fans of these teams. Im glad that President Trump, hes usually the fighter for the underdog, im very glad that President Trump in this case is fighting for those players and fighting for those fans and advocating that we need to play sports in this country. David i got to tell you, i like College Football better than nfl football. Its just that simple. They have more drive, more determination, they are young, fun to watch. I just cant that part of the point, thats part of the point as well. Theres a pageantry and allure to College Football that is extremely special. Everybody knows that. I really believe, its awful that this has happened, particularly the big ten, but i do believe this and i say this, if i can take off sort of my football fan hat and put on my Trump Campaign hat, i will tell you i think the big ten has unwittingly done a favor to the Trump Campaign because a lot of fans in those key midwest battleground states may not be all that politically involved, they may not have planned on voting, but they are going to be very angry in these coming saturdays when they see there is football in the s. E. C. , football in the south, football in the west, but not they are unable to cheer on their gophers, badgers, wolverines, nittany lions. I believe they will recognize that President Trump stood up for them and they will return the favor. David they are certainly unhappy. No question about that. I want to get another case in. President trump and joe biden clashing over mailin voting. Roll tape. If we dont make a deal that means they dont get the money. That means they cant have universal mailin voting. Just cant have it. So you know. Sort of a crazy thing. He doesnt want an election. He doesnt want an election. What is the real issue with the Postal Service, steve . Right. Look, of course we want an election. We do believe in absentee voting. We certainly believe in early voting. What we do not believe in is universal vote by mail. Where a live ballot is literally sent to every Single Person who is on voter rolls. The main reason we dont want that to happen we know very well voter rolls are not accurate. Many of those people on the rolls have moved, have passed away, and we know it invites fraud. We also know further that the postal system would be unable to handle that kind of a mass of mailing. We also know, this is important, too, i would just challenge the audience to think about this for themselves. Do you send anything thats important in your life via regular mail . I sure dont. David thats a great point. I do want to get one final question in before we go. The media making Kamala Harris into a moderate. She is quote a pragmatic moderate who spent most of her career as a prosecutor. What do you make of this spin very quickly . This is gaslighting at its absolute worst. Point to gov track, an independent group that has analysis of the legislative record of everyone in congress. They say for 2019 Kamala Harris was the most liberal United States senator even to the left of Bernie Sanders. David do you think the American Voter is going to buy the spin . No. They are not going to buy the sfi spin. Its our job, those of us in the Trump Campaign, the president himself, to make sure the people know the truth. This kind of gaslighting by the New York Times and a lot of other folks is one of the reason that unfortunately trust in media has absolutely plummeted. So the people are rightly skeptical of corporate media. Weve got to get the truth out there. The truth is she is an absolute radical. She is a berkeley radical. Her nomination to the Vice President ial slot completes the radical fringe left takeover of the Democratic Party. David we will leave it at that. Steve cortes, trump 2020 Senior Adviser, good to see you. Thank you very much for coming in. Home prices are on the rise in the suburbs and the cities, believe it or not. Does that mean we are not seeing the exodus from urban areas we have been told about . We will ask former hgtv host mike aubrey right after a short break. We made usaa insurance for veterans like liz and mike. An army family who is always at the ready. So when they got a little surprise. Two . They didnt panic. They got a bigger car for their soontobebigger family. After shopping around for insurance, they called usaa who helped find the right coverage for them and even some muchneeded savings. That was the easy part. Usaa insurance is made the way liz and mike need it easy. 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Its hard to call it a rally but we have come off the negative figures for the dow and s p. Both are in the green. The nasdaq started out as the only one in the green and now its negative. Not down too much. In fact, its over 11,000 again. 11,019 on the nasdaq. A quick check on the airlines. Some good news from american and united airlines. Both trading up. Delta, southwest, jetblue, they are all in the green. Now this air travel is plunging, of course, during the pandemic but some frequent flyers miss the experience of flying. So the question is what theyre doing. Lauren, i dont miss it. What are they doing to kind of recreate it . Lauren i dont think you are going to miss this, either. Some of these travelers or wishful travelers are buying airline food from Companies Like imperfect foods and gate gourmet who are selling their surplus food and these passengers are buying it to get the taste of the travel experience when they cant actually travel. I know. Its such a silly story. You think thats extreme . You know what theyre doing in japan . People are boarding fake planes. Theres an Entertainment Company thats tapping, they say this is going to be a big market, the virtual travel market. So you go on the fake plane, they strap you in, serve you the food. You put on goggles and take a virtual tour of anywhere you want to go. We must be really bored if we are buying airline food to eat at home and boarding fake planes. David if there was a machine, really in star trek they had a beam machine, you could beam somewhere instead of having to travel there, i would be for beaming. I dont like the experience of traveling. I just want to be where im going to. Some people i guess are different. Lauren yeah. They like the process. The airport used to be my favorite place in the world. I know its crazy but i never knew what people were up to, where are they coming from, why are they going there. I just found it so worldly and just, i dont know, fascinating. David all right. You are a people watcher. You are a people watcher. Lauren i am. David thats why you became a journalist. Thank you, lauren. Now to housing. The 30year fixed Mortgage Rate is still under 3 . Mike aubrey, Vice President of compass, whats going to happen when millions of residential and commercial properties go on sale all at once . This is what a lot of people fear, particularly places like chicago and new york and l. A. That have had some bad experience with retailers moving out. David, i dont know that we are going to see millions of Properties Come on the market at once. Listen, if we look back at 9 11 and even at the recession after lehman, we didnt see that Many Properties dump into the marketplace at one time. Do i think that, you mentioned new york specifically, manhattans in a tough spot right now. I think they are going to probably go through a little bit of pain before they are able to recover. But when you look at the difference between residential and commercial real estate and how its been affected by this pandemic, its really a tale of two outcomes. Listen, commercial real estate has kind of ebbed as employers have seen that employees can work from home and that they can do it efficiently. That very thing which is employees working from home has become a great tail wind for Residential Real Estate as people look for sort of bigger and better spaces to work from. At the end of the day, this is a matter of supply and demand. The reality is that demand is king right now. I think there are way more people that want to buy houses than there are houses to buy. We were at a deficit anyway. Builders cant keep up and the resale industry cant keep up with. David to your point, let me just bring up some figures. Suburban home prices are rising up more than 3 compared to last year. But get this. Prices are also rising in urban areas, on the other hand, speaking of new york and of course, you say its a little bit of a special case, but as we mentioned before, 87 , theres an 87 increase in new listings in new york city. 87 compared to last year, mike. I think a lot of that is driven by the fact that Real Estate Agents werent able to work in new york sort of during the throes of this pandemic and you are seeing a lot of people sort of bring inventory into the marketplace. Having said that, again, taking away manhattan and San Francisco specifically that are sort of special cases because the pricing was so high in those marketplaces, stay with me on the evolution of the sales cycle here. Okay, im a millenial and have been living in new york, and i have now decided to get married and im going to move out to new jersey, to a bedroom community, and it doesnt mean that based on the fact that inventory is low and people are buying right now that theres not somebody in line to buy my condo on the west side. Because i think that there is. David i hope youre right. There is still great demand. David as somebody who has a condo on the west side and may be looking to move out eventually, i hope theres some buyer out there some place. Mike aubrey, great to see you. Thank you very much. Appreciate it. Well, the pandemic is slowing new construction all over the country but salesforce just started on a building in chicago, and thats good news. Thats where we find jeff flock, who tries to find good news wherever he can. Jeff . Reporter by the way, i would buy your condo on the west side. I have been there. Its beautiful. Really lovely. David god bless you. Reporter salesforce tower, at least it will be at some point, this is probably an anomaly. Salesforce as you know is a company that manages Customer Relations for companies around the country and they are building a 60story tower here. I think we have a picture of what it looks like. You might have thought in a pandemic, this might have come to a halt but no. They are going forward. This is one of the largest Construction Loans in chicago history, because they feel like they still are going to have a lot of people working here. But this is an anomaly. If you look at the First Six Months of the year in terms of buildings like this, this is not Single Family home starts, this is big Building Construction starts, down 22 . It had begun to recover in june but now, you know, especially in a town like chicago, not only do we have, you know, unfortunately the pandemic but we had this whole downtown unrest. Thats not helping things either. Theres a lot of big beautiful buildings here that have been built that maybe were going to be hard to fill anyway. With fewer people working at work and more people at home, i dont know what that says about big Building Construction, but probably nothing good. David you know, we have a lot of construction going on in manhattan that began before the pandemic and before all the violence in the streets, and they are continuing it, but you wonder whos going to fill those spaces. Thats the question. Jeff, thank you very much. Reporter exactly. They are long lease times. David have a great weekend. It is the end of the work week and time for friday feedback. You have been sending your questions and suggestions, thank you. Lauren and ashley are ready to deal with them coming right up. David made it to the end of a week. If youre lucky, hopefully you will have some place like this to go to. This is ocean city, new jersey, a lot of people already out on the beach. You can see the umbrellas popping up on the sand there. People on the boardwalk. Looks like they are having a lot of fun. We hope you can join them. It is time for your friday feedback coming to ashley and lauren. Lets see what the viewers have to say this week. I like this segment. Dont you, ash . Ashley yeah, i do. Its fun. David its fun. The first question comes from rick. Heres what he asked. When the entire varney team returns to instudio production, who will have the most grueling commute . I know its not going to be me. Lauren, what do you think . Lauren probably me. I think i go the furthest. But we all get in pretty early so hopefully we will beat traffic. David i hate to tell you, i can walk to work in a half hour. But ashley, how long does it take you . Ashley well, i think i got lauren beat. Only on the amount of time. Lauren normally has to come in very early. I come in from connecticut, its an hour and a half each way. Thats three hours of my life on metro north. Lauren you got me beat. David the next one is from mark. Heres what he wants to know. Does your family, do your family members and your other hosts watch the show . Ashley, do your family members watch the show . Ashley yes, they do. My mother, every day which is a little david good for her. Ashley i often think how would she like it if i watched her when she was working. But shes always very positive. My kids never watch me unless they are surfing through the tv and accidentally find me. David yeah. I think its the same with me. Lauren . Lauren yeah, they watch. They hold me to what i say. If i ever say anything about them, they get a little upset. David as well they should. Lauren you know the deal. They usually comment on my hair or what im wearing. David very important. Very important. Finally, cass asks love the beatles flashback songs. Please continue. Perfect song, Getting Better from sergeant pepper. Expand your beatles repertoire. You are missing some great opportunities. Stay tuned for your request. Ash, our producers tell me we get a lot of requests for beatles music. What would you say their best song is, quickly . Ashley oh, my god. Almost an impossible question. Here comes the sun, george harrison, 1969. Makes me smile every time. Nina simones cover, fantastic. David lauren . Lauren lucy in the skies with diamonds. David great one. Hard to pick. Thank you, gang. Thanks to all who responded. Dont stop sending in your questions and comments. We love to hear them. More varney after this. Find your keys. 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. About medicare and 65, ysupplemental insurance. 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David a Quick Program may know, catch maria bartiromos interview with President Trump on maria bartiromos wall street, it starts at 8 00 p. M. Eastern time, stuart will be back here next week. I hope you like the show, its time for neil cavuto. Neil i have your energy, david asman, thank you very much. We are following on the same developments, we just got word out of new York Governors Office that he will be issuing a statement of something to do with gyms in the all but shut down. Theres a very aggressive email on the part of fitness and others to reopen the mortgage the governor to reopen them in close gyms are actually working against defeating the virus, this is a great way to counter that virus