All the fast moving developments. The back to improving trend here but the markets are chewing on that, i guess assessing not improving fluff. What is your take . I agree with you. If you look at continuing claims, they have fallen pretty dramatically. The weekly claims there is sense by the market to keep the momentum going. Maybe that is a stimulus package. We dont know. Obviously the market takes it as a slight negative. We have had in the economy last couple months is housing boom, explosion in building. It has driven up commodity prices. Lumber prices. Multiyear highs. Multidecade highs. There is a concern that may cool off a little bit. Housing starts slowed down a little bit in august. There is a little bit of concern, that maybe that bright spot in the economy is starting to go down a little bit but not so much if you look at the oil market. Look at the oil market it is kind of signaling Better Things ahead. Weve seen a big jump up in oil prices, the last couple of days, a big rebound after the hurricanes hit the gulf coast in recent weeks, messed up with numbers. It appears the demand side of oil seems to be looking a lot better. You know, in fact we had a report today from the joint minister of monitoring committee. That is the opec plus guys, about where theyre going to go from here. They basis said, listen, guys, all the cheaters in the cartel, stop cheating. They will make a plan not to cheat. If they live up to that commitment that means less oil and thats driving those prices higher. The other thing theyre saying opec are seeing as they look around the globe, supplies are getting tighter. That will be a good thing. Right now the stock market will focus on ipo main yaw. I love it. It is back we havent had ipo mania in a long time. We saw it just recently with these two recent ipos, right . If you look at snowflake which had an incredible opening, theyre pulling back today. You always know that snowflakes eventually fall, at least for a while, right . They come down from the sky. They dont stay up there forever but they come back again. Usually after these ipos, the initial announcement they pulled back. Probably that is a good thing. The other thing is jfrog. Look at this company. The company is interesting. Theyre in a sector i think will be very big in the future that is managing all the companies that use these devices, you know, to help them do the updates and keep up to date. This is really a new sector in the market. Jfrog is one of these companies that a lot of people are excited about. It performed very well on its ipo. Now will it fall like snowflakes . Neil, that is always a possibility after these ipos. Sometimes they pop and then they drop but if youre not in on the ipo you have to wait for the drop to try to get in these things. That probably is a good thing. It will be a having market. Hopefully the fed will give us less uncertainty in the future so we can be more certain to buy back in. Neil well be talking to the jfrog and ceo founder in a few minutes. Where are you right now . Are you in a timeout chair . What is the deal . Basically, im in secret undisclosed location right now. Moving me from place to place. So right now, actually, were looking out the window it is rainy. I decided to pull down the lights. Neil there is a window . All right. All right. Pay the electric bill. Always a good idea. You never know when they will pull the plug on you. Neil, good advice for people up there. Neil want you to be saith. All you need is a newspaper and it looks like a hostage tape. Im glad youre with us. Youre the best. Thank you. Neil phil flynn is well. He is at an undisclosed location well leave it at that. Edward lawrence. I dont believe he is is at an undisclosed location in washington, d. C. There is talk, maybe progress on this stimulus measure. Hope springs eternal. But i guess the president changed the language when he was open to a bigger bill, right . When are we looking at . Reporter very interesting developments on this front. The jobless claims, 860 new filings this week that is above the estimates of 10,000 but 24,000 less than last week there. You see 860,000 this week this continues the labor market healing but still a lot of pain for those people who are looking for work or need help. Now a Senior Administration official says the last conversation with House Speaker nancy pelosi over the next round of help took place yesterday. The official says the white house floated to create a fund where state and local governments could prove corona related losses to get the money. The president did indicate as you said he would go up to 1. 5 trillion and pushed other republicans to accept a bigger number. White house Economic Advisor larry kudlow believes opening up the ppp as well as giving more money to schools so they can reopen safely could be key. I dont think the recovery is contingent on this package but the president wants an insurance policy he would like to see some more cash out there and it sure beats raising taxes. Reporter under pressure from more moderate members of the Democratic Caucus the House Speaker says she is keeping them in washington until a deal can be agreed upon which may not be close. Listen. We have compromised. We came down a trillion dollars. We asked them to go up a trillion dollars. Instead they werent down. Not recognizing the need. Reporter airline ceos went to the white house today to meet with the chief of staff. They asked, they reached out to the House Speaker but have not scheduled a meeting as of this, but talking to meadows, the chief of staff this morning for the white house, they plead for more help. Listen to this. We need a relief package done to get this sba extension approved. It is not about the psp extension. Enormous bipartisan support. About getting a relief package between now and october 1st. Reporter fed chairman jay powell says there may be targeted need for help. He targeted the Airline Industry and hotels. A lot of folks are reaching their hands out but it is air on the other side as of right now, neil . Neil give or take a trillion dollars. I can remember a time when that was the entire budget of the United States government. That is amazing. Reporter numbers have grown under covid. Neil like theyre pennies. Numbers have certainly grown. Thank you, my friend. Well continue following developments out of washington. Meantime the battle over a vaccine, how soon one comes. Whether it does come soon as the Vice President actually raised, as a possibility. Whether it is safe. The back and forth on this. First from joe biden and then the president of the United States. Take a look. So let me be clear, i trust vaccines, i trust scientists but i dont trust donald trump. At this moment the American People cant either. President trump im calling on biden to stop promoting his antivaccine theories because all theyre doing is hurting the importance of what were doing and i know that if they were in this position they would be saying how wonderful it is. Theyre recklessly endangering lives. You cant do that. Neil so no middle ground on this between the two president ial candidates. I want to get the read from ethan berman, radio commentator host, much, much more, liz peek, fox news contributor, much more than that. Ethan, i will begin with you. I take the Vice President s statement at face value he was not dumping on a vaccine, by raising possibility it might be rushed prematurely for political ends, could he do more harm than good . One comes out, people afraid to take it because joe biden raised awareness because of efficacy, possibly . I dont think that will fall on joe biden. The issue we have a it something president who promoted numerous unproven drug treatments since the beginning of the pandemic let alone his own words on Bob Woodwards tapes where he was misleading us about what is going on. Neil but he saying, i think what he is saying, biden is saying if it comes out, he is raising the issue that it was rushed for political purposes, maybe you shouldnt take it. Im just wondering all the other stuff you mentioned woodward book, whether the president downplayed this publicly, thought otherwise privately, people are saying we dont want to rush it out or any part of it because joe biden says there is problem. There isnt a virus, excuses me, a vaccine fully gone up there the three rounds of trials before november third. It is interesting that the president wants to keep pushing that for political purposes for his reelection because no drug company is saying that. It is partisans in washington who are saying that there is going to be a vaccine before november 3rd. Anybody who knows what theyre talking about dr. Fauci saying middle of next year that would be historical track record for Vaccine Development is at least 18 months is the fastest, fastest that it has ever been done before. So you know, i dont look to the president to tell me about science because he is not a scientist and he doesnt listen to scientists. But, so i dont think it is right to point out joe biden telling people not to take a vaccine. There wont be one. Neil i should point out, ethan, moderna is sharing a blueprint for hits Coronavirus Vaccine trial that could be resumed next couple weeks and out before the end of the year. Pfizer working in concert with biontech. Much the same. No way to your point to date this but it is not the president alone front running this. But liz, back to the notion that maybe the president set for himself to get this kind of criticism that he keeps promoting stuff that doesnt happen. Is that hurting his credibility . Well, perhaps neil but this is happening. As you point out pfizer, moderna, j j has talked about having a vaccine ready next year. By the way faucis comments had to do with a vaccine being available to everyone. Obviously going to take some time to roll out a vaccine. Lets just roll the tape back. One of bidens big criticisms of President Trump is he wasnt active enough early on. This operation warp speed which got the entire Scientific Community trying to come up with a vaccine is really a remarkable achievement. Would they be happier, biden and pelosi and kamala harris, all of whom have put out their concerted attacks on the safety of a vaccine which i think is the most despicable thing you could be doing right now because undoubtedly americans might be put off from taking this vaccine. Would they be happier if we didnt have a vaccine in the future . This is ridiculous argument. It should not be politicized no matter what anyone has said prior to this this is a good thing thats happening. It is something that americans have prayed for for months. It is the only way this country will get through this virus. Neil still, liz, it is interesting that the president s own cdc chief had gone on record yesterday saying most americans would have to wait until the middle of next year for a vaccine. Sure. Neil i am sure what he was meaning like that, one readily available getting it out to the public would be mid next year. Yeah. Neil is there always the risk here, i will leave out political motives, give the benefit of the doubt to joe biden and president on this, that that you can set up false hopes . Look i think there is no question that Donald Trumps basic view is his job is partly to reassure americans, to make hem optimistic about the future. By the way most people are optimistic about the future. It is democrats who are trying to play down or play up, excuse me all the negative things that are happening. Donald trump knows we will have a vaccine. Yes it will take a long time to roll out although i think already preemptively they have a plan for doing that which is appropriate because 300 million plus americans are going to end up taking this thing eventually. Yeah, i mean, is it false hopes . No. I dont think so. It is hope. Guess what . I hope, i want that from my president. Neil lets switch gears if you dont mind, guys, something that could be a trailblazer here, other states dealing with budget gaps. In new jersey the governor has been able to finally get through his millionaires tax, surtax would bring the top rate in the garden state to 10. 57 from 3. 90 that would make it the highest rate in the country. Ethan, the popular line that calls comes up, is democrats are quicker to raise taxes than to ever cut spending this is another example of that. What we have to look forward to if joe biden comes in, because his plans are not to cut any spending but right now to raise 4 trillion worth of taxes over the next 10 years on the backs of the well to do. What do you say . Well, interestingly enough, neil, im going to surprise you a little bit with this answer. I think rushing tax increases through during the worst economy under this president since world war ii, rushing taxes increases through is the not right approach. Now states have to deal with budgetary balancing issues at the federal government doesnt. Theyre undera different sort of pressure, difference states like california, states like new jersey have to deal with the fact people of means, that the wealthiest 1 can relocate to another lowtax state. Money flows inside the United States. Were seeing that here. There is fears in california of exactly that. And i personally know people who have, are leaving california under the threat of us raising taxes another 3 own the top tax rate. Look, the federal budget deficit a whole separate issue. President trump on hot economy raised deficits to trillion dollars during a hot economy. So the federal government is one thing but state governments, you know are going to have to figure out different ways than simply raising taxes on the wealthiest people to try to balance their budgets. Theyre going to have to get more creative. I dont think it is the right move. I think it will have ramifications they dont anticipate. Neil ethan you are a riddle wrapped in a conundrum but very smart riddle wrapped in a conundrum. Liz, let me get your take, talk about the timing of tax hikes, to ethans point, others saying on a National Basis if joe biden were to get elected come in toe raise taxes, zeroing in on the well to do, bringing the corporate rate up to 28 from 21 right now, regardless, the timing would be bad. What do you think of that . Yeah. I think it is a terrible idea, terrible proposal. As we struggle to come out of this tremendous drop in Economic Activity to raise taxes but lets talk about new jersey. New jersey for the first time in 2018 lost residents. More people are moving out of new jersey than moving in . Guess who is moving out, older people with savings, high incomes. To ethans point they dont want to lose these people. Remember when david tepper left new jersey four years ago the state budget took a major hit. I guess people dont learn lessons very quickly. New jersey is already the sixth highest taxed state in the country. The New York Times says the top 1 of residents there pay a third of the income taxes. I dont really, the only thing going for new jersey in raising taxes now, probably new york and connecticut are going to do exactly the same thing. If youre in new jersey and youre working in new york, youre probably not going to have much opportunity to move to any of those contic voice states. But i got to tell you, its a terrible policy and they will accelerate the move to florida, which is, booming as a result of high taxes in new jersey, in connecticut and new york. There is no disputing that. It is a terrible idea. Neil i will put you down as a maybe on that idea. All bets are off if ethan starts doing his radio show out of texas, then we know the die has been cast. Yeah. Neil ethan, liz, thank you very, very much, a respectful debate on a subject that is pretty heated. More so as we speak. Corner of wall and broad. Hot ipos debuted yesterday sucking a little bit of wind today but not as much as you might think. The truth of the matter is the demand for these new offerings are a live and well and they are lining up like planes at laguardia, one by one, expecting fortunes. Well talk to the ceo of one of them that has hit pay dirt after this. i need it so bad dont call it a hobby. Its way more than just a job. This is how we live every single day. Can we go and play . roaring of engines i needed to try needed to fall i needed your love im burning away i need never get old im burning away lookentertainmentour experience xfinity x1. Its the easiest way to watch live tv and all your favorite streaming apps. Plus, x1 also includes peacock premium at no extra cost. This baby is the total package. It streams exclusive originals, the full peacock movie library, complete collections of iconic tv shows, and more. Yup, the best really did get better. Magnificent. Xfinity x1 just got even better, with peacock premium included at no additional cost. No strings attached. Neil all right, lets play football. The president taking a bow for the big 10 reconsidering its resistance to resuming playing. Now that the big 10 said, you know what . We will play. October 24th might be an eightgame schedule. But they are on. Everyone waiting to see what the pac 12 does right now. Blake burman following all of this at the white house. Blake, where do we stand . Reporter neil it was interesting when the big 10 put out its statement yesterday they were resuming football, at least scheduled end of next month there was no mention about the white house, white house ralph involvement. It was about the big 10, testing procedures, built out strategy what they plan to do going forward. We have seen President Trump saying he was involved getting this back. Here is what i have been told from white house officials at least as they see it as their involvement in getting the big 10 to resume football play. President trump spoke with the big 10 commissioner kevin warren the morning of september 1st. We all know that. However ive been told in the days following there were at least three other conversations between officials at the white house and warren. In the end the white house says it offered up testing help to the big 10, some 85,000 tests but the big 10 went its own route. Im told the President Trump was fine with that so long as football would be played and the student athletes had their say. Now youre looking at the pac 12. That conference out west. The only one of the major power five conferences that isnt playing or said it is going to be playing in the future. That is where President Trump is setting his sights on next. Listen. President trump and so i just want to congratulate big 10. It is going to be great. Were going to love watching that and again i want to recommend pac 12, youre the only one now, open up. Open up, pac 12. Get going. Said the same thing to the big 10 and they did. And now im saying it to pac 12. You have time. You really have time right now. Get going. Reporter white house officials telling me there have been some conversations as well, communications with the pac 12 conference. Back to the big 10 for a second, neil, we put up a map for the pac 12. You cant help notice when looking at big 10 map, minnesota, iowa, wisconsin, michigan, ohio, pennsylvania. Swing state, swing state, swing state, swing state, swing state, swing state. White house Officials Says this an wasnt about politics, rather making sure the kids could get back on to the field to fulfill their dreams, so on, so forth. This has become a political. Issue in the midwest. Both candidates talking about it as we barely towards the finish line ever the election and those swing states coming to focus, neil . Neil what is amazing about the big 10, 14 teams. Pac 12 at least 15 teams. Isnt there more immediate problem theyre not named correctly . Is that something they could deal with down the road, not the number of teams in the title . Reporter this big 10 graduate. I went to the big 10. Went to michigan. Some people say kick rutgers get them out of there, maybe it is 13 teams. But no. Seriously though they tried with the logo and everything. Big 1014 teams. Football, neil, football. Neil not as powerful. Big 14. All of sudden. I get it. I get it. Im only one that is obsessing about this. Youre way too smart to get involved in that debate. Blake burman thank you very much , my friend. Matt Napolitano Fox 24 7 sports anchor. If you will indulge me, i promise i wont get into the pac 12 versus the big 10, theyre not 10 teams or 14 teams, leaving that aside, i want to get your thought on what the big 10 did yesterday. The pressure is now on the pac 12 to get going. Where do you think this is going . I think it was a huge step for the big 10 to realize a lot of these students athletes wanted to play ball. Parents, officials, President Trump having a huge hand in everything, talking about the coronavirus testing protocols he wanted to push forward on Fox Sports Radio with clay travis. That being said the big 10 is in interesting position. The big 10 kicks off october 24th, that is around the time if the pac 12 wants to qualify for the College Football playoff they will have to get off the ground. They had big developments yesterday, commissioner larry scott said there are covid19 regulations, wildfires are holding us up. Were on standby. Oregon Governor Kate Brown and gavin newsom allowed contact practice. That is huge first step to get players on the field. Pac 12 ceos are set to meet at some point as early as tomorrow with the options on the table. Getting a little bit of a nudge from the big 10 definitely. We could have announcement regarding pac 12 football, as early as tomorrow or possibly monday. Neil but they would have an eightgame season, at least in the pack 10, arrangements they started, they have eight games. How do they sort that out with playoffs and later on with bowl games and mixing and matching with everybody else for the end of the season . Well the big 10 will try to console date a lot into just eight weeks. It is eight games, eight weeks. December 19th they have the big 10 championship. We find out which teams qualify for the College Football playoff. There is no room for error on the big 10. Stay on top of protocol, stay on top of testing, to make sure the players do stay in line. The athletes are really focused. They want to be kept safe and main reason stay on campus, pursue playing a season. Well see what happens. It will definitely be a interesting season with the likes of ohio state, michigan, person state, a lot of competition in that conference were going to see coming up just a little bit over a month from now. Neil all right. I was originally going to talk to you about basketball, that i apologize, i wanted to pick you brain on this at the moment. I want to chase you back to basketball that is on, november 25th, thereabouts. Lets book you for that when we can focus on the one with the orange bowl for that one. Thank you, my friend. Matt napolitano follow for all of this. If any have a quick answer why big 10 has 14 teams and pac 12 has 14 teams and theyre called 12 or whatever, let me know. Most of you are telling me get over it. It is what it is. I understand. Well have more after this. Its been 75 years since your ancestors served in world war two. Many of their stories remain untold. Find and honor the veterans in your family. Their stories live on at ancestry. Neil all right. Some of the hottest ipos announced yesterday, theyre losing a little bit of ground but not nearly as much as they gained yesterday. Two of the premier players, snowflake of course down a little bit around 30 bucks and jfrog, the streaming software concern, down only a little bit after running ahead, racing ahead yesterday. That is emblematic what all the ipos have done since barely losing record ground they were enjoying yesterday. These highprofile names are going to continue this will be a busy next roughly week 1 2 where we could see tens of billions of dollars in added market value from concern, from names that a lot of folks didnt even know up until this week. Gary b. Smith following all of that. What do you make of this, gary . The fact of the matter is that most big debuts follow with a thud or in some case as free fall. I can Facebook Rocky start, it took months. How do you think these will fare because a lot rides on them holding their own . Well you know the track record of the companies that have had that meteoric rise like snowflake are generally not good until a little bit later in the cycle but i think you made one good point in that you said you know, these companies that most people never heard of until a few days ago, i never heard of snowflake to be honest with you, i bet i share that with 99 of the viewers out there. Look, if youre familiar with the company, if youre familiar with the industry, by you know, all means go ahead and maybe put some money in when you can. If youre not, youre just saying my gosh this has gone up so crazy im going to get in, which unfortunately a lot of people do, i would say probably stay away for now. Neil you know there are bears who are always on the watch, gary, saying this is very analogous to what was going on late 1990s. Of course all the bigname offerings that you were investing on promise rather than earnings, or they would look at revenue momentum, i know there are enormous differences with some of these names, what do you think of that . It is showing a giddiness akin to a bubble, what do you think . Yeah. I, yeah, i happen to agree. You know, you look at some of the other offerings coming down the road. They have problems. Airbnb, you know, may come up. Doordash is another one. These are not straightforward kind of businesses. I mean theyre straightforward businesses. Not lyft, uber, they are great, everyone is using them but they cant quite big out to make a lot of money. Look at googles, facebooks, even if you invested two years down the road Something Like google you still made a fortune. I would say wait until theyre viable at least. Neil so on the fed, to relate to this, this is the backdrop for all of this, indicating that rates could conceivably stay at or near zero, what, i think through 2023 right . Couple years. Right. Neil what do you think of that . Yeah kind of like in peep taught. Well keep them low. I found it interesting that the two governors that disagreed, they all dissented i guess fed language, they dissented and their dissent saying hey, cant we just raise it that well raise it, when the economy really starts to take off . The other one, neel kashkari, well keep it as it isp now but raise it when we reach inflation of about sustained inflation of about 2 . Jerome powell didnt even go along with that he said, nope, were going to keep them here forever, which i dont know, i mean the fed has messed up so many times that they, they cant, cant even forecast a week into the future i hate to say. For them to say, no, forever, and ever, well keep them low, it just, just doesnt sound like Good Government policy to me. Neil thats interesting. You have to be careful committing to something three years out. A lot can happen. Right. Neil look where we were three years ago, where we are now, who would have thunk. Right. Neil gary b. Smith, thank you my friend, very much. Uncanny read of these markets and trends. Lets explore a little bit if the Federal Reserve made good on that if they keep rates where they are. If you buy a home or refinance one youre already in, your ship will come in, it will stay dock ad quite a while. Ryan is with us, ceo, Company Founder of his own name here, taking a look at these trends. In the latest period as you know, ryan, we saw starts permits drop a little bit, more than certainly was expected but the overall Housing Trend has been unabashedly bullish, why homebuilder sent meant is now at alltime highs so put this all together for me. The fed talk of keeping rates where they are for years to come. And then the bump in starts and permits. I mean listen, there is nothing like six trillion dollar pr campaign for the quality of a good home that we saw during the spring, during the mass quarantines. The whole nation, the whole world was told to stay at home and, you know, out of sight, out of mind for people. People think all the time, i should upgrade, should get the two bedroom, get a bigger house for my kids but they never do it because theyre so busy with life. When you cant leave, youre really forced to think about i do want the bigger home, then they move on. People still have money. People are still purchasing and Interest Rates are low. You know, real estate was on sale for a while. In a lot of places outside of urban areas real estate has kind of gone through the roof. Because people are looking for land, theyre looking for air, looking for grounds because they have shortterm memories. The next pandemic could be around the corner. Were seeing it differently in cities. Neil im curious, you know, in hightaxed states, in new jersey is as of today, indicating it could be a higher taxed state, even moressing the top rate, already prohibitive and highend real estate in the state, not across the board but im wondering, where the hot, you know areas are going to be then . And these states raising taxes, is it going to make their fight for those, you know, constituents even harder . Yeah. I think so 100 . Weve seen a lot of new yorkers move down to lowtaxed states like florida. Which weve always seen but it was, we saw in masses over the past couple of months but i think hightaxed states will have to get creative and they will have to start luring some of these wealthy buyers who produce a lot of tax revenue for the states very, very quickly. We, i started a new Brokerage Company two days ago and i did it now because i think now is an amazing time to get into some of these higher taxed states, if you want to define them. New york is on sale right now in a way we havent seen in a really, really long time. You will start to see that in the numbers as buyers coming into the city and theyre not buying over last couple years. Neil overreaction, you think this is overreaction people who want to quit on cities, quit on new york, over all could be leading to big buys now . We do know the available number of apartments is at a record high in manhattan and the Greater New York city area. I think similar statistics coming out of chicago, philadelphia, what have you, but you think it has gotten beaten down too much . Listen, there are about 9500 listings on the market right now in new york city. That is the highest it has been since 2009. Pricing on average in manhattan is the lowest it has now been since 2013. Interest rates are the lowest they have ever been. That explains the buying opportunity as good as i possibly can. You see it now. In may, there was 194 contracts signed in new york, which was down 82 yearoveryear. In the last month we saw upwards of 630, 623 contracts signed which was about on par with where we were last year. Which means buyers are now starting to come back. I think there is great, great opportunity and no, people in new york, especially in some of these cities, they freak out, right . They follow the herd, they got nervous, so they left. Theyre all going to come back and that is what were prepared for. It is going to be, it is going to be a big rush. Same way places like the hamptons and florida, and new hampshire, a lot of lower class states saw in the spring. Neil you know it is interesting too about that, i see a number of advertisements in new york area papers focusing on deals in two million or less for apartments in new york. Those outside of new york, middle east sound, thats a deal but they feature that, you know what im saying, two million and under and thats the change. The psychology has changed but if youre right it could reverse itself in short order, right . I think it will and i think we see that time and time again in cities like new york and boston and chicago and los angeles. There is a lot of media scrutiny whats happening right now but we tend not to think long term. I think you have to think long term and you know, were prepared for the next two to three years in everything were doing now is set up really for 2030. And i think, you know, youve seen 9 11, lehman, hurricane sandy. You dont bet against new york. Anyone who does has always gotten hurt. So theyre a great opportunities here. Residential real estate is here to stay. No matter what, everyone need as place to live. Neil all right. Youre putting your money where your mouth is. Best of luck on new ventures. Ryan well watch very closely. Hopefully youre right, cooler, calmer heads prevail. Maybe prices dip in the interim. Thank you very, very much. We told you earlier, ryan touched on it in new jersey where the governor is hiking top tax in the state to 10. 75 . There is another tax he is considering affecting way more than the grey poupon crowd. It is the rest of the crowd. People on retirement making it known, this aint fair, this aint right and this better not happen. After this. 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. Everything we have, weve earned. The unmistakable lexus is. Get zero percent financing on the 2020 is 300. Experience amazing at your lexus dealer. Experience amazing keeping your oysters growing while keeping your business growing has you swamped. you need to hire i need indeed indeed you do. The moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base so you can start hiring right away. Claim your seventyfivedollar credit when you post your first job at indeed. Com promo our Retirement Plan with voya gives us confidence. So we can spend a bit today, knowing were prepared for tomorrow. Wow, do you think you overdid it maybe . Overdid what . Well planned, well invested, well protected. Voya. Be confident to and through retirement. Neil all right. There is a new tax that will soon go into effect in new jersey or it is likely to, now that the governor approved hiking taxes on the richest residents, those earning more than a million dollars. Top rate of 10. 75 from 8. 97 would make it highest in the nation there is a far bigger tax that no one paying attention he is making progress getting done in new jersey, a tax on trades, you buy and sell with operations based in new jersey. It could really amount to billions of dollars and there is a coalition developing right now for those who argue for protecting Retirement Savings that said a lot of americans who invest or would be directly affected by this could see some serious cuts in their gains. Kenny jess joins us, Security IndustryFinancial Markets association. Kenny is the big cheese there. We went right to the top to find out what is going on. This is interesting, kenny, because the state has beenorging pennies on a transaction, no big deal. You and retirement groups are saying very big deal. Explain. First of all thank you for having me and thank you for looking into this issue. It is a big deal because first of all the bulk of trading that goes on, in this case, processed in new jersey, involves pension funds, mutual funds, accounts that are held in retail accounts whether it is in your 401 k or if you have a defined pension benefit plan. While it may seem like less than a percent on a individual transaction, funds trade back and forth all day to balance accounts and achieve their investment goals. That will fall to the bottom line and compound over time. So it can lead to thousands of dollars to the average investor over time in their retirement accounts or any of their personal trading account. So really is a sales tax on investors. Frankly wherever this has been tried before it has failed. It hasnt raised the amount of revenue. The cost has gone to the Retail Investor and it has taken market liquidity out of the system which further impacts returns on investors. Neil if new jersey were to do this, New York Stock Exchange said operations in new jersey would move out. Where would they go . Its a proximity tax as well. Speed is key. If they move too far theyre hurting themselves. What do you they . Well you know, so first of all by regulation and design firms exchanges, and dealers need to have backup sites and redundant cites around the country. In many cases a lot of firms have them in chicago and they ses the sites on regular basis. You want orderly if you have a Superstorm Sandy whatever it may be you want markets to function for investors. You can move around. Markets are increasingly electronic as well. Frankly logistical proximity maybe doesnt mean what it used to mean. Yes, youre right, the New York Stock Exchange said they might move. And so this doesnt have to be in new jersey but the fact of the matter is this is beneficial to new jersey. There are 200,000 Financial Services jobs in new jersey. Neil we have to do a quick commercial here. Not done yet. More after this. Thank you only pay for what you need. Liberty. Liberty. Liberty. Liberty. Always have been. And always will be. Never letting anything get in my way. Not the doubts, distractions, or voice in my head. And certainly not arthritis. New voltaren provides powerful arthritis pain relief to help me keep moving. And it can help you too. Feel the joy of movement with voltaren. Neil all right. So many delays so little time. New York City Schools will delay their inperson classes at least indefinitely for a while as they want to phase it in. It was supposed to happen like pronto. It is not going to. Deutsche bank is telling the u. S. Staff they can wait until at least july 2021 to come back to work. As Jpmorgan Chase and goldman are saying next week, we think next week would be a good time for you to get your butts back here. Total confusion abounds. Well have more after this. En r. And geico loves helping riders get to where theyre going, so to help even more, geico is giving new and current customers a fifteen percent credit on their motorcycle policies with the geico giveback. And because were committed for the long haul, the credit lasts your full policy term. The geico giveback. 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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. Muck. Neil all right, top of the hour, right now in pensacola, florida, where the damage has been pretty extensive from Hurricane Sally. They had two storm surges, and that was just the worry, and its proven just the problem right now trying to get out of all that. Grady trimble has more. Grady . Reporter neil, alabamas governor called Hurricane Sally an unwanted sequel to hurricane ivan which hit on the exact same day in 2004, and ive been hearing the same thing from people here in pensacola. In fact, in this very neighborhood where home were destroyed a couple of days ago by Hurricane Sally, homes were destroyed back 16 years ago, in 2004, as well when hurricane ivan made landfall very close to here. Were along pensacola bay. Theres a bridge under construction not far from here, and with bridge construction come barges that are attached to those bridges. Several of them came detached from the bridge and stopped right in the neighborhood here in somebodys front yard. It actually hit one of the homes on the other side of it. Remarkably, people were home at the time that the barge landed here, but nobody was hurt. People were home as the flood waters from the storm surge were rushing into their homes. Nobody in this neighborhood hurt though. And, i mean, look at this thing. Imagine this coming into your backyard, potentially hitting your house. Listen to what one of the homeowners in this neighborhood described as it happened. It was like a pirate ship coming out through the fog, and all i kept thinking was please stop, please stop. Reporter officials along the northern gulf coast say they have performed hundreds of water rescues, and at this hour Escambia CountyOfficials Say there are 300 people who still need to be rescued. There are parts of Pensacola Beach that are still very difficult to get to because the flood waters have not receded. Meanwhile here, people are picking up. You see debris strewn all over the yard here x that actually if you can see it out there is the from this house that were almost 40 yards away [audio difficulty] and hundreds of thousands of people still without power in this area as they pick up the pieces from yet another storm 16 years to the day from hurricane ivan. Neil . Neil just incredible. Grady, thank you. Grady trillioninging. And as a sort of end note, hurricane teddy, category two storm, right now is barreling in on bermuda. Still watching that one as well. In the meantime, watching developments on capitol hill where both sides talk of the need for a stimulus deal, but both sides are far apart on that. The president might have changed things, dissing the possibility of a disbecausing the possibility of a more generous package. Chad pergram on that. Reporter theres still about a 1 trillion gap now, and there is revolt among some moderate House Democrats in the ear of House Speaker nancy pelosi demanding, urging her to do some sort of bill before the elections. That said, other moderate democrats are okay with the bill, the big 3 trillion bill they passed back in may. Among them, debbie powell, shes a freshman from florida. Dont underestimate the unity of our caucus. We know what we need to do. Thats why we passed heroes in may. Reporter but they do want to look at other legislation. House Speaker Nancy Pelosi this morning reiterated her push for a larger coronavirus bill. She says democrats already compromised. They offered 2. 2 trillion versus the original 3. 4 trillion approved in the swing, but moderate democrats are still advocating narrow bills. Pelosi conditioned there was division among democrats. Say to me. What they say is we need to have a solution. You may have by anecdotally someone who may say i dont care how small it is, i want it just to go. I have not heard that. Reporter both the house and senate leave washington today until next week. White house chief of staff mark meadows says lawmakers should stay in town until theres a resolution. Take your cameras to a dca today, because youre going to see members of congress leaving to go home and pretend like theyre working hard on this particular deal when, in fact, the checks are knot going out to the American People, and Unemployment Benefits will start to cease. Reporter and, neil, absent from these negotiations, the president of the United States. Back to you. Neil wow. All right, chad, thank you very much. Chad pergram on all of that. There are all these cities and states that have been hit hard by all these protests, businesses that have lost hundreds of millions of dollars across wide swaths of the country. They want relief, but as Hillary Vaughn is here to tell us from minneapolis, that might be easier said than done. Hillary, whats the latest . Reporter hey, neil. The governor is estimating that damage and losses to businesses could total half a billion dollars. I want to point out what youre seeing behind me right now. This used to be bling bling beauty supply. It was gutted and it was torched. And all of this, 1500 businesses were hit, the most hit, restaurants and retailers that looters attacked and, essentially, ripped all the inventory off store shelves. This was a massive Retail Complex with a a tmobile, also a foot locker, a Massive Furniture store. That was gutted and burned to the ground, reduced to rubble. Still months after the riots businesses are still unsure if they will reopen, and theyre also unsure if, when they do, their customers will come back. The damage happened here, the entire neighborhood is down. No business going on. We disconnect the phone to customers, be closed. Its not very easy to are recommit to customers. Im also going to wait until after the trial of the four policemen because if the mob does not like the decision of the jury, we could have rioting again, and i dont want to be burnt out a second time. Reporter so far just 20 of insurance claims have been paid out to businesses here in the twin cities for commercial property, 46 million in payments have gone out. But thats really just a fraction of what has been filed with insurers. Over 229 million, but its not just businesses that are worried. Residents are too. We talked with one resident who defended her tads condo building from being looted and burned. She tells us the police have not picked up multiple times since then that she has tried to call 911, so shes thinking about moving her dad out of minneapolis because its not safe. Ten of us literally stood on the street wednesday night with nothing except, like, big mom energy. [laughter] you know, going up to looters and arsonists like youre not going to touch our building. Reporter and, neil, another hurdle that businesses are encountering, if youre wondering why theres still rubble here, its because of according to a state law they have to pay their property taxes before they can clear their business lot. A lot of them, because of covid, are thousands of dollars behind in property taxes, and they would have to pay that on businesses that essentially dont exist anymore. Neil . Neil Hillary Vaughn, thank you very, very much. Hillary vaughn following all of this very, very closely. You know, i caught up with ohio senator rob portman yesterday on this. He thinks these businesses need relief. Hes optimistic part of a package could be cobbled together on extended relief that goes to the virus and some of these ancillary issues as well. But the devils in the details. This is from senator portman yesterday. Senator, it doesnt look like the two sides are remotely close to a stimulus package. Is it safe to say that it would take a miracle to have one by election day . Well, it may take a political miracle to have one, but were actually not that far apart on substance. Everybody wants to extend the ppp, which is the program for Small Businesses that expired on august 8th. So you have Small Businesses who cant apply, ones who need an extension of their existing proposal in order to keep their doors open. So everybody wants that. Neil all right, everybody wants that, the but as we were saying at the outset of this hour here, easier said than done. That is the consistent theme. Congressman jodi arrington, republican of texas, joins now. What does your gut tell you, congressman . Nancy pelosi wants to keep the house, she thinks a deal could be can had, but where does all of this stand . Well, theres what she says and then theres what she does as a leader. Weve seen nothing but partisan liberal wish lists come through the house, so theres been no offer to sit down and actually work through this. Were in a National Crisis mode. Traditionally we come together and work through these things, so i find it highly unlikely with the environment that shes created that well get anything done, unfortunately. Although i would say theres a lot of money thats already out there, hundreds of millions of dollars. So my interest in coming together is to make sure sure our policies incentivize and encourage reopening because demand is the key. It will coffer a lot of the problems that our Small Businesses are facing and our families. So targeted temporary assistance but making sure we encourage leaning into reopening, getting people back in the marketplace, back to work and back to school is top of mind for me. Neil you know, congressman, theres a Problem Solvers Group that kind of meets in the middle, i think, whether its 1. 5 or 1. 75 trillion is meeting in the middle, i dont know. What do you think of that . The president himself seemed to intimate that he would be open to a pricier package maybe pricier isnt the word, but a bigger one. Are you . Well, i think youve got to, got a whole process here of legislating is the art of the possible, and there are always give and take on both sides. Aisle not im a realist, im a pragmatist when it comes to policy making. However, throwing more money to make ourselves feel better is not the answer, obviously. All of the hundreds of billions that are being discussed going towards cities and states who are already sitting on more than half the money we already put out, schools, 99 of that money hasnt been spent. States are sitting on that money. Look, i think weve got to be responsible. Its not like theres no consequence to overspending here. Were now at a debt that is the size of our economy. And there is a consequence to future generations. Weve got to balance all of it. We need to be realistic. But bailing out folks who are here paying cash assistance to folks who are here illegally, putting, you know, bailouts for Union Pensions or the Postal Service without reforms, i mean, thats a bridge too far for most conservatives. But finding a path forward for temporary, targeted assistance where its needed for families, for Small Businesses, dealing with the legal liability issue where we may see massive lawsuits across the country which would be devastating for our economy, those are things i think we could sit down and talk about the if the other side is willing. I have not seen that willingness on the part of nancy pelosi and my colleagues on the other side of the aisle. Neil all rightful well be watching. Looks like there are areas where you could bridge these differences, but times wasting, to your point. Congress aman, thank you very much. If dows down about 225. Most of the ipos that made their big debut yesterday are surprisingly holding on to a lot of their gains here. There might be a selloff here and there, jfrog among them, the tech tools developer says its very optimistic, very happy with the final fare of the first day, and the fact that its holding up pretty well today. Were going to talk to the founder and ceo on what happens right now, an alluring prospect and investors are approving it. Proving it. Stay with us. Neil you know, theres a lot of fuss yesterday, the back and forth between the president and joe biden on a vaccine, when it comes. The former Vice President saying hes very suspicious of an Early Vaccine release, also who will get it once it is released, intimating that if youre wealthy or have a nice fat wallet, you will likely be first in line. Im vastly oversimplifying here, but the message was it wouldnt be fairly done. I want you to judge for yourself. This is from joe biden. This takes time, and it has to be done fairly and well. It cant be based on your tax returns, figuratively speaking. Its got to be based on who is most vulnerable, who is most vulnerable. Neil i really dont know where he got that, regardless of whether you like joe biden, dislike him, that any inference would be made to anyones tax returns or wealth, that the well connected get it first, nothing that ive seen in any of the procedures that would be put in place if a vaccine were to become available, how it would be distributed, but i wanted to get the expert on this. Dr. Roger klein joins us, policy adviser, physician, much, much more. Doctor, very good to have you back on this. I think the rule of thumb was Health Workers first, those in the line of fire, those Senior Citizens who would be vulnerable, extenuating respiratory, cardiacrelated conditions, kind of in that order. Is that that a how you understand it or how would this go . It is. It would be targeted towards the most vulnerable and Health Care Workers as well. Part of it will depend upon the fda authorization or approval. What i would encourage, i would encourage your viewers to read the strategy that was outlined released on hhss web site yesterday. It is truly outstanding and one of the best pieces of work i have seen come out of a government agency. They have covered the details on this. They describe the process. Theyre down to the, down to the alcohol tabs. Every base has been covered, i really uncorning everybody to read it. Anybody who has any doubts about what theyre doing at hhs and what the Trump Administration is doing should have those fears allayed by reading that document. Neil so its safe to soy thank you, doctor, for reminding me of that, its safe to say it is not going to be based on how much money you have, connections you have, that there is sort of a procedure in place. Could you give me a rough idea how it would go . Yeah, this is actually a really a very unhelpful statement that is just wrong when people have put so much effort into something so important. And really theres a committee, you know, you have an Advisory Committee, the Advisory Committee on the National Academy of medicine thats released a draft for administering and giving this added vaccine. There are detailed procedures in place with committeebased decisions based upon experts. And this isnt the expert modeling, you know, that were, as many of us sometimes get a little bit skeptical of. These are bona fide experts in terms of looking at empirical data. This is an evidencebased process. And not only that, but they have built in, they built in realtime response. Theyre looking at realtime. Theres an enormous infrastructure theyre gobbing to be locking at data going to be looking at data, and theyll be able to respond in realtime and shift prioritization based upon need. And so, yes, i mean, the initial purpose or the initial plan will be to target those populations most vulnerable. This will be based upon recommendations of a committee. You cant really finalize that until we see or ask an fda authorization or approval which will undoubtedly have some conditions attached to it. Neil well put, doctor. Im so glad we got to talk to you today just to keep the politics out of it, look at whats what the science is and the procedures that have already been put in place. All the other stuff that goes with it. Dr. Roger klein, thank you very, very much. Thank you. Neil all right. In the meantime, the battle over tiktok and oracle and whether its such a sure thing, the back and forth is amazing, and the promises oracle has made to make sure it will be able to snoop out any chinese snooping on you as a tiktok user, maybe it isnt such a sure thing. After this. I had saved up some money and then found the home of my dreams. But my home of my dreams needed some work sofi was the first lender that even offered a personal loan. I didnt even know that was an option. 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Book your free virtual or inhome Design Consultation today. Im not prepared to sign off on anything. I have to see the deal. We need security, especially after what weve seen with respect to china and whats going on. We want security. Neil all right, so maybe this tiktok thing with oracle aint done already, and as our own charlie gas poo know has reported gasparino, you never say its done until its done. And i guess, charlie, not done. Its still not done. Lets just break down the battle lines here in the administration because as of now, for all i know, by the end of the day this thing could get resolved. As you know, theres a deadline to ban the app by september 20th, i believe thats sunday. And so this thing has to get done in the next couple days, and theres a whole bunch of paperwork, so the sooner the better for, if you want to, if you want this deal, if you want tiktok to still appear on your 12yearolds apple ipad, iphone and allow her to do dance videos. So heres what we do know, that the Trump Administration is still divided over tiktok. The battle lines appear to be simply this deal, and its what weve been reporting all along, Steve Mnuchin, treasury secretary, who chairs that allimportant committee of Foreign Investments in the u. S. , is poid to approve poised to approve the deal. He thinks the structure which is, we havent seen it, all the details, but broadly whats leaked out is that tiktoks app and the algorithm will be licensed by some sort of Company Controlled by oracle and other investors including walmart. But tiktok itself, and tiktok is essentially an app, will still largely be owned by the Chinese Parent Company because the chinese, based on its new export rules that were published will not allow the u. S. To buy one of its companies. Thats why this tube of technology, thats why microsoft develop dropped out. But that structure, while mnuchin likes it, is not favored but others in the administration. I hear National Security officials, i hear a. G. William barak i also barr, i also hear secretary of state mike pompeo have real misgivings. That doesnt mean they wont change because theres pretty until pressure here to change, and ill get into that in a minute. They have misgivings, and thats why this thing as of right now is in limbo. The president has to make the call, you know, hes being bombarded by both sides. One sort of way out of the it, and i heard this from someone who deals with Senior Management at tiktok, that i think that they could delay anything, push it out, extend the deadline past the 20 til maybe november 20th, after the election, punt it until then. That could be one way this thing gets resolved, or it could be that they just say no, or they just approve it as Steve Mnuchin wants. The political stuff is fascinating here. As you know, oracle is run by larry ellison, a good friend of President Trumps. So if trump has some sort of affinity to doing this deal, thats one thing. The other thing is simply this the deal that oracle is putting together does not meet what President Trump himself has said are conditions of the deal, no chinese involvement. The chinese have to be involved in this in one way or the other even if theyre licensing the tiktok app and algo to a 100 u. S. Owned company. So this is a mess. You know, it could be it could go either way. I, you know, on one hand you say, well, is it worth, you know, annoying people in a hotlycontested election . Thats one thing. One of the reasons why trump brought this up is because he thinks china is a global threat, and he thought tiktok was a legitimate surveillance threat being used by the Chinese Communist party to siphon this user data. So thats where we are right now. Im sure things will change next time im on in clamans hour. [laughter] Something Else will drop. Neil its fast moving. All right, buddy, thank you very much. Charlie gasparino on all of that. This is the day after some of the biggest ipos ever debuted in market history had their performance numbers shattered a lot of records, certainly there was a great deal of attention to snowflake here on one to have greatest Financial One of the greatest financial offerings of all time, but do not forget about jfrog, soared 61 . It raised the equivalent of half of a billion, actually more than that. Remember, this was priced originally from 4044, it rocketed up to around 77 a share. Right now sitting at 63, but not too shabbiment holding on shabby. Holding on to most of those gains. Its ceo and cofounder,shopmy ben haim joins us now. How are you feeling this day after . Still excited that the combination, the amazing achievement. Its still running in our green blood. Neil you know whats interesting, i noticed when you were talking about the appeal of your company and what it does and the software that it provides, that in this covid19 world it has all the more allure. The need for Software Deployment is just getting higher, and its been crystallized and amplified by covid. What did you mean by that . Well, i think that even this interview from few home office the day after we went public kind of magnifies and amplifies the need for Software Updates. Our world is powered by software, and the cliches of every software is the Software Company is already a reality. So i think that Software Update is powering the world. And unfortunately, while we already realize the software is running everywhere, even in this interview we are communicating through software, Software Updates experience is still poor, and this is where jfrog steps in, and this is what our unique platform provides. Neil you know, i know youre not an israeli, you served with high honors in the air force, but it did remind me that more and more Israeli Companies that have gotten the World Markets attention, particularly now whats going on in the United States attracting a lot of capital here. Im wondering what was the environment now to make it happen . You know, you debuted it in a market thats been rocky in some of the days prior. I know you cant focus just on those gyrations, but were you getting worried particularly when Technology Stocks are taking it on the chin again . What did you think of the environment . Well, jfrog is a global company. We are active in ten different countries, and im very happy to see the Company Growing globally. Were serving the top ten on every vertical in the market from every country. Its not about geographic allocation or a sector. Our region is israeli, and we are very honored and proud. Up to 12 years, you have wide amount of executive Management Team and very talented that are working all over the world. And our headquarters, our dualelect headquarters is based in california, in sunnyvale and in israel. So i think that im most worried about the impact that covid19 might bring to the market in the future than where our vision is from. Neil you know, we Pay Attention to how snowflake did, and a lot of money into the marketing and sales, someone who had studied your company very closely has written about you that youre not as into that, saying that jfrogs goal is to delight its customers by delivering service, solving problems. In other words, marketing is not your thing. But companies that a make it big and debut in a big way as you did, sometimes maybe marketing should be more of your thing. How do you balance that now . Yeah, thats a very good question, thank you. I think that, you know, snow flake is a megaipo, and obviously i would like to congratulate them for the amazing achievement. Obviously, yesterday was a great day for their company, and they have a great product. In jfrog we always say that we make products by the community, for the community, built for our marketing [inaudible] in the world of Enterprise Software today where the developer is the buyer, a on the highway will not do anything for our product. Therefore, we have to be focused on the community and to process everything we did from the bottom up. We built an Amazing Company with a very impressive growth and an amazing Net Retention of our customers although and despite covid because of the community. And we communicate and invest and inject our dollars into survey marketing to serve the developers community. And i think that a lot of companies are learning that this is a much more efficient way to bring your business than just burning money on marketing, on legacy marketing. Neil you know, with all of your success, shlomi, many people have looked at the better than two dozen offerings among yours and, obviously, with snowflake a host of others, at least two dozen between this week and knecht week, and a lot of people have compared that to what we saw in the 1990s, a bubble. The top ten, you know, fortune players, i get that. But do you ever worry about that, that youre caught up in this frothy wave for which you might legitimately benefit, but there are problems that this is the sign of a market top. You hear that a lot. What do you think . I hear it a lot, and, yes, it worries me. But i think that just as then also today if you build an efficient business with a strong, very superior technology and the right demand from markets, an authentic demand from the markets, good times will come, bad times will come. We will have bubble, those bubbles will go away. And i would ad that jfrog was born into the recession of 2008. Few Previous Company was born into the recession of 2000. I think that from day one the frog has the dna of understanding that they have to be in the business alongside the technology and serve a real pain in the community and not just something that we think will ride the trends. If you building a business like that, then good times and bad times will be part of your reality, and we are ready for that. And as i promise to all frogs, we are not going to survive covid19, we are going to win. Neil all right. And some of the names were born during very, very difficult times. Microsoft in the middle of a recession, i could go on and on. I wish you well, thank you very much for joining us. Ceo and cofounder of jfrog. That stock warily giving up any of the impressive gains that it had yesterday. Stay with us. 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. With the icon that does the same. The rx, crafted by lexus. Lease the 2020 rx 350 for 409 a month for 36 months. Experience amazing at your lexus dealer. 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. And welcome back to cavuto coast the coast. A story now on housing. An estimated one million americans are past due on their mortgage by at least 30 days and face losing their homes in the new year all because theyre unaware that they actually qualify for help under a relief bill that Congress Passed in march. Of that 100 million or of that million, 680,000 have federallyguaranteed mortgages, and thats important because it means they are eligible for a forbearance plan. But lenders say, basically, if you dont ask for help, youre not going to get it. And a High Percentage of borrowers are actually not aware what, if any, benefits they qualify. In fact, a survey by the National HousingResource Center found 56 of borrowers didnt know what options were available that provides more leniency, and they were confused about what was being offered and whether they qualified. There is clearly a communication problem, and thats why the government and several agencies are putting together a web site to educate struggling homeowners about available programs. The national more to moratoriume way, on evictions expires at the end of the year, and the Mortgage BankersAssociation Says all borrowers should contact their lenders regardless of whether theyre behind on their payments just to clarify their situation. Neil, this is important because a lot of people could be losing homes, and all they have to do is reach out to their lender and explain their situation, and there may be help. Neil i hope so. Ashley, thank you. That was very interesting. Ashley webster on that. When we come back, we told you there was going to be a delay in schools opening in the new york city area, thiess for inperson classes. Theres no delay in that it will be resuming at the end of the month, but it will come with a bit of a a caveat, a charge, a covid19 surcharge. Yeah. Right after this. Tada did you know Liberty Mutual customizes your Car Insurance so you only pay for what you need . Given my unique lifestyle, thatd be perfect let me grab a pen and some paper. Know what . Im gonna switch now. Just need my desk. My chair. And my phone. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. So youre a small bor a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Neil what is it about new york city . Now on the promised opening of inperson classes put off yet again i dont know all the reasons, but it comes at a time where restaurants that are looking to open up by the end of the month are contending with a number of other problems as well. First on the school thing with Kristina Partsinevelos following this closely. What does this mean . Is it an outright delay . Hows it going to go . Reporter okay, its not once, but twice youre seeing the delay of the reopening process. Its going to affect nearly one million students. Most Elementary School students will start september 29th, most high School Students will start october 1st x mayor de blasio spoke at a press conference just a few hours ago about delaying the inperson learning for a second time. Listen in. We want to acknowledge that some Real Progress has been made but not enough had been made, and more had to be done to make sure that things would be as strong as they needed to be. Reporter you have only prekindergarten and special education students that will start this upcoming monday. You have were seeing on the full screen k5 and k8 schools set to return september 29th, middle and high school october 1st, and that means a lot of people are going to be learning remote. Roughly 42 of families in new york city are opting to have their children learn through online learning, zoom, etc. And so labor leaders are saying that schools right now are not ready to reopen, and that is the major issue. Theyre saying theres not enough educators. Even though de blasio just add added roughly 2,500 new educators, theres just not enough to go ahead with, quote, live and synchronous instruction. Some schools dont have good vent laughs systems or wifi, so we know at this point schools are going to phase in the inlearnings pro. And unfortunately process, and unfortunately, students are set to have to wait again. Back to you. Neil yeah. I feel for the parents too, especially with young kids. How do you juggle all of that . Christina parts never let. New york city did postpone until the edge of this month Indoor Dining, inrestaurant dining, 25 capacity beginning on september 30th, but dont be surprised if you go in and theres a Covid Recovery charge of up to 10 of the bill. Thats something thats being pondered right now, in fact, required. Restaurants can decide whether they want to make it, go all the way up to 10 or leave it up to the diner. Lets go to kat timpf, fox news contributor, also carol markowitz, New York Post columnist. So, kat, restaurants open, you and your soon to be betrothed, you know, go in there, and theres a charge. Theres a surcharge, a covid19 surcharge on the bill. What do you do . I was actually kind of alarmed that restaurants werent allowed to do in anyway without the permission of the government. I would think that restaurants would be, as long as youre warned ahead of time, put whatever fees you could do a 50 mystery fee if you wanted to. It would be up to people to decide whether or not they wanted to pay that, and the market would sort of work it out. In theory, that could be what happens in this case, but i think that these restaurants arent going to have trouble packing their places since packing them means 25 capacity. So im sure theyll have no problem filling them that way. There is a question of is this even going to be enough, because a lot of places have already closed down. Theres been no Indoor Dining since march, and now theyre saying, okay, you can open up 25 . How do you run a business like that . My bar in the west village closed in july. I dont this is a nice thing, i think they should have been able to do that i anyway, i dont think its going to be enough. Neil yeah. I dont know where theres going to be an edict, carol. I do know that a lot of restaurants are hurting, and with the 25 capacity thing, theyll really be hurting. I know there are plans in new york to close down streets so more restaurants can use them for outdoor dining, maybe find a way around the 25 Indoor Dining limitation, but where do you think all this is goingsome. Nowhere good. I agree with kat, i cant believe that it was ever an issue whether or not restaurant doctors could charge what they needed to charge to survive. You know, i had dinner out the other night, it was 68 degrees, it was so cold. You cant we live in new york city yeah. [laughter] with heat lamps i dont think were going to make it past 65 degrees. So, you know, i think its crazy that we let Governor Cuomo run away with this thing and give the kind of edicts like, oh, itll be 25 . I have a friend who has a 19seat restaurant in brooklyn. She can have 4. 75 people in her restaurant [laughter] once the indoor thing opens. I think new york restaurants are really small, and 25 is just nowhere near enough. Neil yeah. And i also think most patrons, especially of restaurants they really like who are happy to see them open, would invarian write give more to invariably give more to help them out. I dont know if you need an edict here to force the issue, do you . Right. Theres a restaurant that we go do pickup from a lot, and they have the option to donate to a delivery or a Covid Relief Fund when we got delivery or pickup, and weve been doing that already. Again, and to carols point, its coming up heat lamps, no ones going to want to eat spaghetti on the sidewalk in the middle of a noreaster. So i dont think this is going to go quite far enough. Neil i would eat spaghetti in an alley, so i dont know where you guys are coming from. [laughter] carol, these Stories Group together, dont they . Theres a millionaires tax that will be put in place in new jersey, it looks like the plans gotten approval, this governors been pushing for this for a while. Its going to raise the top rate in that state to 10. 75 , the highest, i believe, in the country. Not exactly a way to entice people to stay there, but what do you think . I think its crazy that they didnt learn the lesson the rest of us learned is that rich people have options. They looked around in march and said, im out of here. Whiled i stay in the city when i would go to a number of places where i could have a house or a backyard, etc. New jerseys absolutely going to feel the same thing. I think its crazy its being so underreported that new jerseys in a very similar spot as new york, especially with things like school openings. Neil right. School keeps getting delayed and delayed, and rich people will leave, absolutely. Neil you know, kat, you hear though the people who defend these tax hikes on the right and the rest, even when it came to mayor de blasio of new york, you know, dismissing the wealthy moaning about this, where else are they going to go, the citys a beautiful place, i dont know what jersey will argue, ily in new jersey, ladies i live in new jersey, so i think i can come from a position saying, all right, theres a throiment our patience here. A limit to our patience here. This notion of where else are they going to go, weve seen it in california, weve seen in cities they do go elsewhere to lower tax environments, florida, texas. The ideas happening. And, you know, carols not imagining that. No, youre not. My my grab say and i still have quite a bit of time left on our lease, thats the only reason were still in the city. If we were super rich people, wed have been out of there a long time ago because you dont have to worry about Something Like breaking a lease or moving cost if you are super rich, so why would you stay and pay all that in taxes . And also the bottom line is even if this did work perfectly and people didnt leave, which we already know they will because weve seen it already starting to happen, its really a bandaid on a bigger problem. At some point youve got to address the elephant in the room which is, of course, the spending, right . You have to actually address the spending. Yeah. Neil but they never do, carol. Never do. No, never. Theyll run out of millionaires eventually though, and then what will they do . Middle class is going to get hammered. Neil its just a mart of time. Its like, you know, the amt tax and it started to really target a few who were getting away with out paying taxes, and now it includes a third of all taxpayers. Ladies, good luck with your next [inaudible] neil i hear ya, i hear ya. Well have more after this. keeping your oysters growing while keeping your business growing has you swamped. you need to hire i need indeed indeed you do. The moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base so you can start hiring right away. Claim your seventyfivedollar credit when you post your first job at indeed. Com promo find a stock basedtech. 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. Neil all right. Interesting item that just came across the wires concerning blackrock, the worlds biggest asset manager. You hinting you know what, they may never get everyone 100 back in the office. This is coming from blackrock ceo larry fink. I dont think blackrock will be 100 in the office. Maybe 60, 70 . Maybe a rotation of people but i dont believe well have a cadre of people at the office to that earlier level. Amazing. Charles payne, to you. Charles it is kind of interesting working at home. Half a suit, pajamas, flipflops. Neil, thank you very much. Good afternoon, everyone. Im charles payne. This is making money. The late swoon from yesterday . It spilled over into todays session. After Federal ReserveJerome Powell appeared to punt instead of giving more details on future accommodation. Is this typical wall street whining . Well have the answers. Nothing beats experience. We bri