Transcripts For FBC Varney Company 20240712

China the stock set to add 100 points to the dow in todays session. There is a countdown to election day 41 days to go, former Vice President joe biden heading to North Carolina today, meanwhile President Trump also getting ready to announce his pick for Justice Ginsburg Supreme Court seat, democrats threatening for pack the court if it is filled before election day. Justice ginsburg will lie in her pose at the Supreme Court building and then on friday she will become the first women in history to lie in state at the u. S. Capitol building, also happening on capitol hill, dr. Fauci will testify before the senate at 10 00 a. M. Eastern and Jerome Powell will testify before the house select subcommittee on the pandemic. And the president expected to speak to veterans and their love and a coward. It is a live action show today and Varney Company starts right now. With your help, your devotion and your drive, we will keep on working, we are going to keep on fighting and we are going to keep on winning, winning, winning. We will make america wealthy again. We will make america safe again. [cheering] and we will make America Great again. Ashley lots of energy at the rally, President Trump rallying in pennsylvania say he wants to make america rich again but jamie dimon ceo of j. P. Morgan chase says he is okay with higher taxes on the rich but so is a wealth tax is almost impossible. Joining me now john, chief market economist for moodys analytics. Good morning to you, my first question is what would higher taxes on the rich due to our economy . It first depends how you define rich, is it families making more than 200,000, 400,000 a year or families making more than 1 million per year, right now many people calling for additional stimulus, but any type of tax hike represents a contractionary type of physical policy, fiscal policy that hurts the economy, i think with unemployment above 8 is far too early to take the possibility of any type of tax hike seriously. Ashley that is interesting because thats what joe biden wants to do, trillions of dollars in new taxes, that cannot be good for the economy. It cannot be good at all, goes against the strong case prevent enter presented by many democratic leaning economist dee fiscal policy, it makes absolutely no sense, its like hiking Interest Rates in the middle of a recession. Maybe when the Unemployment Rate drops under 4 again, then we can take seriously the idea of hiking taxes. Ashley i think thats the quote of the morning, it makes absolutely no sense. Stay there we have more for you, lets take a look at the markets, mostly higher except for the nasdaq which is flat, lets bring in market watcher shar,with s p and they get downo the correction territory is that a signal to buy. Good morning, it is a signal to start buying certainly not to go all, i think we have a little bit to go on the downside, a lot of the stocks are down and correction territory certainly the big mega tech into start taking small bites, im taking 20 of capital allocation, the big majors and im putting in right now, i believe were gonna get opportunity to add lower, given the market straight we could turn around very quickly and head back higher, i dont think thats the case going into election i think we will see higher volatility and have an opportunity to buy a little lower. Ashley it is interesting a lot of people talk about the fear of missing out but there is so much cash on the sidelines, when we do see the dips its like people who have been hedging their best can finally get in they can finally get in. That the reason were starting to nibble already as opposed to maybe waiting, if you wait you may not get that chance you may have to wait a day or two late and then you missed the move, choose a ten, 50 sometimes 20 with some of the stocks, you might say thats going to happen this time around but starting to get in now where the stocks are looking attractive in terms of valuation is a good starting point to enter and add a little bit lower. Ashley we look ahead just a little bit, mediumterm will have the end of election certainty and will have a vaccine in the stimulus bill and we have a continued goober or accommodative Federal Reserve, looking ahead it looks very bullish doesnt not. Exactly those are positive for the market and hopefully the economy to come i think we have to lean into look at the economy first and foremost the market gets a little bit ahead of itself whether or not will see the v recovery in the Economic Growth remains to be seen by get a w market will do a little bit of backtracking themselves. Ashley a little more cautious, thank you so much for joining us this morning, we appreciate it. Lets look at the vaccine front if we can, Johnson Johnson starting phase three of the Coronavirus Vaccine trial, this is the final step in testing the vaccine President Trump just moments ago responding to the development tweeting this, big news coming numerous Great Companies are seeing fantastic results, fda must move quickly lets take a look at the other Companies Working on a vaccine in the premarket, a mixed bag but pfizer, Johnson Johnson and gilead up but moderna is slightly down as well as novavax, lets have the look at the latest read, lets get a read on the latest Mortgage Applications numbers that just came out, the spring and Lauren Simonetti. Susan. Lauren up 6. 3 staying ho fall despite high home prices and rates that are slowly kicking up, refis lead the way up 86 last year and heres the point to thirds of overall mortgage activity. People are looking to lower their monthly bills. Ashley im amazed there still people left to refinance. But they are still out there, thank you Lauren Simonetti i appreciate that. Lauren ive been meaning to do it. Ashley i dont think youre the only one. Lets bring back john lonski, despite the recent market selloff on behalf of the stalemate over the stimulus bill you believe the economy is improving, right . Yes, i do. The atlanta fed came out with an estimate for thirdquarter growth at 32 annualized, better yet we keep getting this good news on housing, we have the highest level of home traffic viewing from prospective homebuyers ever talk in this begin to generate 1985. Weve been getting good news on manufacturing, despite Federal Reserve district banks that each month take a survey of regional manufacturers, we have the numbers and for the new york fed, the Philadelphia Fed in the richmond fed, that basically covers all the states, what we find is unweighted average, the level of Manufacturing Activity according to the index is back where it was in december 2018, the components related to employment, new orders as well as plans Capital Spending all have moved higher. Ashley i already feel more optimistic, thats an impressive list, theres lots of positive signs, thank you so much for joining us this morning. Lets move to tesla, elon musk says the car deliveries are said to increase this year, lets bring in susan li, we found out the new batteries will take a few more years. Susan three years showing off the new battery design that not only last longer but also cheaper, not exactly 1 million miles but it will take a few more years to ramp up production so that was a bit disappointing for investors, elon musk is known for his bold promises, a lot of hype, he predicted tesla would make a 25000. Driving card three years with 20 million vehicles each and every year, tesla stock rallied for just a bit after months of deliveries, this year is 30 40 and that implies deliveries at 500,000 pledged that he made at the start of this year and tesla is running behind that mark so far in 2020 despite analyst predicting record deliveries for this quarter but elon musk did impress Goldman Sachs because this morning they raised their price target on the stock to 400 up from 295. Ashley that is a nice price target. Thank you very much, lets take a look at the futures, about 19 minutes for we open, we are positive across the board, the nasdaq essentially flat but the major averages finished up yesterday session and the positives, we will see if we can keep it going when we open up wall street. We do have a big show planned on the busy newsday, trump former nationally International News advisor katie mcfarlane, Martha Maccallum, florida senator rick scott will be here and former White House Press secretary and Fox News Contributor Sarah Sanders. Hours after launching a cheaper pellet town like bike, amazon pump the brakes and stop selling the new exercise bike, echelon claimed they were in a partnership with amazon so what the heck is going on, guess what we have echelon ceo later this hour to explain, u. S. Household wealth hitting a record despite the coronavirus pandemic but do we still have a long way to go. Im going to ask the economist peter when he joins me next. Im hector. Im a delivery Operations Manager in san diego, california. Weve had a ton of obstacles in finding ways to be more sustainable for a big company. We were one of the first stations to pilot a fleet of zero emissions electric vehicles. The amazon vans have a decal that says, shipment zero. Were striving to deliver a package with zero emissions in to the air. I feel really proud of the impact that has on the environment. But were always striving to be better. I love being outdoors, running in nature. We have two daughters. I want to do everything i can to protect the environment to make sure they see the same beauty ive seen in nature. My goal is to lead projects that affect the world. I know that to be great requires hard work. Ashley heres an interesting story, chinas Online Shopping growth is apparently stalling, come in susan should we read anything into this. Susan Consumer Spending after covid will be up and down after employment, income still in overhang on Chinese Consumer sentiment which might also be the case in the u. S. , chinas online sales, growth for consumer good and services flowing in the month of august, if you look at retail sales in china. 8. 5 from generate to august this year with the chinese job market which is the worst since the 1960s according to the Economist Intelligence unit, the sales listed, alibaba in the jb. Com, also the sales that might be hurt and nike, apple, mcdonalds and starbucks, they get a lot of the sales from the chinese middle class and it was less money to spend, that hurts marriott, hilton and less need to buy boeing, theres a lot of ramifications right here to the u. S. Stock market. Ashley a lot of ripple effects. Thank you. Europe is seen a spike in corundum cases, weve been documenting that with the uk seen a possible second wave to see a big jump in the daily new cases, it obviously peaked in april and may and now hitting up again, lets bring in peter maripetermarie c, could this bet for the u. S. . I think it depends on how well we decide to manage the virus, the suffering lockdown fatigue, facemask fatigue in europe and theyre getting careless pray thats one of the reasons boris is closing the bars earlier in britain. We have to avoid that, if we are careful, we can avoid that. Ashley i find it interesting, very quickly closing at 10 00 p. M. Instead of 11 00 p. 11 00 p. M. , i cannot see what the hour makes, people are still inside of the restaurant, anyway, whatever, i want to move on and talk about u. S. Household wealth that hit a Record Number during the Second Quarter despite the pandemic. I would imagine this is good news but do we still have a long way to go before we fully recover. To different issues, wealth has not gone down simply because the Housing Market unlike during the financial crisis did not take a hit, they value the homes are little same or little bit higher, in terms do we have a lot more to go, yeah, we have several Million People who are permanently unemployed according to the bls and is probably a lot larger because the businesses that are permanently closed, we really do need another stimulus package and we need the uncertainty of the election behind us, once we have that, i think we will be able to continue to grow and recover but is going to take some time. Most economists dont see the economy fully recover until 202e more likely to get that frankly if mr. Trump is reelected that mr. Biden reelected. Ashley the longer the stalemate goes on over the stimulus bill, how much damages are doing or is it doing damage, how badly needed is it, if you needed traffic, the data that we have on people going to stores and whatever, things have leveled off, we see the recovery has the accelerated, my feeling is were missing a quarter of growth because of this. If we get a stimulus bill after the election we will have missed out on basically three months of growth and at this point in time its very unfortunate, were going to get a big secondquarter number when it comes out, thirdquarter number when it comes but what its not going to continue. Ashley i think you are right, it is getting stuck in congress, peter morici, thank you for joining us, i want to take a look at nike, we mentioned this at the top of the show, thank you peter, its up in premarket 12 , lauren, nike reporting blockbuster surgeon online sal sales. Lauren up 82 and online is one third of nikes overall revenue, shares should hit an alltime high at this level when they open and add 100 points to the dowd jones industrial he said these are times when the strong can get stronger and nike is, quarterly revenue, this is important 10. 6 billion, that is almost what their revenue was this time last year, they are close to be back to normal, their net income almost several expectations, the sports cancellations early on in the quarter that help them because they save money because they spent less on marketing but now they have basketball back, their new products, yoga maternity for women, nike is doing well on all fronts, Women Apparel sales are going faster than mens, i thought that was interesting. Ashley very interesting indeed. We covered a number of ipos recently we have another big one today, come in susan. Susan good rx the online drug coupon Company Pricing higher than anticipated at 33 a piece, their returning a price range of 24 28 value of good rx, close to 13 billion and thats much higher than the 3 billion and was valued at two years ago, they say their huge investor in the Fast Growing Companies in ipo mania that we see the past few weeks is a big debut like snowflake and unity software, snowflake as remember last week doubling in day one, good rx reported sales that jumped 50 from last year and thats the growth that investors are willig to pay up especially in 2020, two other highprofile ipos later this month and then were guessing when airbnb will take place this year if it takes place. Ashley forget about a pandemic going to the market. Thank you very much, the market opening in minutes and were hoping for a positive start, barely hanging onto the nasdaq, slightly lower. Well be right back with the market opening. Here . Nah. Here . Nope. Here. When the middle of nowhere. 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Wow mommy, so what is it that you do . Im a financial advisor. She is aig proudly supports all the professionals taking care of our Financial Futures. Ashley happening now we want to bring this to your attention the casket is a Ruth Bader Ginsburg due to arrive at the u. S. Supreme court, she will light interpose there today and tomorrow to allow the public time to pay their respects and on friday she moved to the u. S. Capitol building in the National Statuary hall where she will lie in state, the first woman ever to do that, thats whats happening right now outside the Supreme Court building in washington. Moving onto the market, echelon announcing what they call a new prime bite they claim to be in partnership with amazon but now amazon is telling echelon to stop selling the bike and say its not an amazon product or even related to amazon prime, what the heck is going on there, echelon ceo coming up in just a few minutes but lets bring in investor greg smith, this is not good news i would imagine for echelon. No its not, good morning and happy at 80th birthday to my father hes tuned in this morning. Peloton enthusiasts around the world woke up to a 1 billiondollar fairytale that amazon and echelon were coming to the market, ultimately i think this would be good news if that didnt happen because i would broaden the market, create more Consumer Awareness and i continue to believe the pellets on has an incredible on tap market opportunity, this was a billiondollar fairytale that i say because we woke up and saw peloton give out almost a billion a half dollars of Market Capital to recover. Ashley you bought peloton when the bike was originally released, right . Ive been a longtime buyer on peloton and i had in my position yesterday on the dip, i thought even again with amazon entering the market i continue to have a price target of pellets on for myself of 150 and with only 1 million connected subscribers, again they have more than 95 million households that they can go after for their product, with or without covid, peloton will be a winner and they will benefit and i continue to call it the new old stock and i continue to expect great things from peloton. I think peloton should be a great acquisition target for someone like amazon or netflix because they have an incredible network and they really mastered the Business Model and content, community and commerce. I think they will continue to win. Ashley you are a fan, lets put it that way, thank you very much we should say later this hour we will speak to echelon ceo. As you can see the bell is ringing and guess what this wednesday session of all is now officially underway and right out of the gate the dow up 129, 130 points, a lot more green on the dow 30, nicely leading the way, we talked about the surge and online sales, Johnson Johnson with vaccine news, home depot, mcdonalds all leading the way, the doubt up 125 points or there about. Lets look at the s p, showed modest gains in the premarket s p, same story up about five points at 3320. Up about a tenth , lets look at the nasdaq covering around the flat line hovering around 10959 for the nasdaq, going very flat at the opening. Guess what tesla might have competition, we will find out that bill gates is back in electric car Company Called quantum scape that will go public soon, the question being they are starting from scratch, can they compete against tesla. Susan with bill gates monday they were pretty good chance, 4. 310 billionyearold startup called quantum scape, if this is on track to reduce the electric battery, it has pure metallic lithium, that would be a huge gains changer and they are more traditional than gaspard ones, if you make it more affordable, you know more people will own electric vehicles, that is what you unmask is trained to do with batter day, the battery can also charge agains in 15 minutes andl 9 further than the current electric cars, thats a big selling point, quantum scape back on the New York Stock Exchange by the facts trends word emerges with a Blank Check Company and it takes his place trading on the stock market, you know gate entry gates and masks have been simmering in dows overcurrent electric cars, technology and that does include tesla and elon musk says gates has no clue, back and forth and see who wins. Ashley mr. Gates putting his money where his mouth is. Lets find out. A lot indeed. Next case the happiest place on earth, disneyland but not very happy right now, still closed but lauren, this man putting pressure on california lawmakers to reopen the park. Lauren is the darkest place on earth right now, disney telling officials in california it is time to reopen its been shot for six months and the economic numbers into devastation thats been significant especially in the area were 80000 jobs were. Disney executives made their pitch to california officials to use their Success Stories from the reopen parks in florida, china as well as paris to show we can safely do and customer seem to like it, by the way hong kong reopens on friday. Ashley interesting, another one disney announcing changes to their annual marathon. Lauren they have the popular races, disney world marathon in the half marathon, it will be virtual this year, they are usually held in january or february when its a little bit cooler when they were canceled they attract a lot of people were in the middle the pandemic and if you register to run you can get your money back. Ashley i think i would be a good virtual runner, i sit here and pretend. Lauren i was wondering how you doing actually prove that you do it. Ashley i dont know but i feel like i could get on board with that. Thank you. Agree new survey reveals 75 of hotels say they could be forced to lay off staff if they dont get some sort of government he help. Susan the Hotel Industry is looking for 150 billion in government aid, some hotels received money for the ppe, the Small Business Relief Program but Major Concerns at the Hotel Industry might get worse from here with 90 billion worth of default, permanent closures and permanent job losses at a Hotel Industry group survey in 1000 Hotels Across the country and 70 of them are fewer than half of their staff currently working fulltime, what is worse the same number said they would only be able to stay open for another six months at the current occupancy levels, 2020 is forecast to be the worst year on record for hotels and even worse than the Great Depression in the Hotels Industry group, 1. 6 Million Hotel employees are currently out of work and less than two halfmillion excuse me to have billion dollars in wages per week because of covid. They are really suffering at this point. Ashley its absolutely brutal, its not just the hotels that need help, we know the airlines weve been saying this for months, they say they need financial help. Susan a last bid to persuade congress to give them 25 billion, thered got 25 billion earlier this year end airlines say they need more cash in order for tens of thousands of employees for load that starts next month on october the first and we know theres tens of thousands of layoffs and voluntary retirement but we know travel has been decimated this year. Ashley the clock is ticking on that money running out. Thank you. Lauren another one for you talking about shopify reporting and data breach, we have not talked about data breach recently. Lauren 200, no more than that, using the shopify platform to sell their items, what happened was to members of shopify and their support team were found guilty of stealing the merchant data in the customers data of the merchant that used shopify, they got the Contact Information in order details but they did not get financial or credit card information, is 200 a big deal, shopify has a million merchants so its a small number so still 2020 when everybody is doing everything online we have not spoken a lot about data breach which is pretty interesting. Ashley that is, thats a big deal if its your information that is being stolen. Thank you very much. Lets take a look at the big board, the market is moving generally higher, its up 165point, lets take a look at the ten year yield, lets see where that is going, it is going up, two basis points. 678 , pretty darn low, gold no money going into gold, 1891 done about 1 , lets take a look at bitcoin, we dont do it that often but interesting to see where it stands, 50, interesting gauge to follow, 10545 up half 8 , lets take a look at oil, inventories coming up a little later on, oil around 40 a barrel up 19 cents, interesting to see what we have in storage. Brewing in the democratic party, lets listen to joe biden take a swipe at Bernie Sanders. Roll tape. He will address our cameras directly talk to the voters that are worried about socialism in you raising taxes. I beat the socialist that how i got elected in the nomination, do i look like a socialist. Ashley that cannot sit well with the far left base, we will debate it in speaking of debate we know the topics for the first president ial debate hosted by fox news Chris Wallace, the story anchor Martha Maccallum will be here to talk about that and other things and have you ever heard of an amazon room, latest amenity for high am home buyers. We will explain next. 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. The personal loan let us renovate our Single Family house into a multiunit home. And i get to live in this Beautiful House with this beautiful kitchen and its all thanks to sofi. To listen, is to hear more than whats being said. And offer the answers that make someone feel truly heard. I understand, lets get started call a Dell Technologies advisor today. Makes it beautiful. Stateoftheart Technology Makes it brilliant. The visionary lexus nx. Lease the 2020 nx 300 for 339 a month for 36 months. Experience amazing at your lexus dealer. Now every bath fitter bathbath fis installed quickly, experience amazing safely, and beautifully, with a lifetime warranty. Go from old to new. From worn to wow. The beautiful bath youve always wanted, done right, installed by one expert technician, all in one day. Weve been creating moments like these for 35 years, and were here to help you get started. Book your free virtual or inhome Design Consultation today. I was just fighting an uphill battle in my career. So when i heard about the applied Digital Skills courses, im thinking i can become more marketable. You dont need to be a computer expert to be great at this. These are skills lots of people can learn. I feel hopeful about the future now. Ashley guess what, we may now have a date for amazon prime day, susan li when is it. Susan it seems to be october 13, you may want to pencil that in on your calendar, amazon has declined to confirm the date but if you asked alexa maybe one day she will tell you, amazons biggest shop strive again the surpassing black friday and cyber monday, last year 7 billion in sales over two days, 48 hours, usually takes place in july but this year is not been a typical year and theres concerns when you push the date back to october, it is too close to say black friday and the rest of the holiday which might take away sales and cannibalize sales from the shopping days or might mean a lot of pentup demand and spending by consumers. We will see. Ashley i would not be surprised to see pretty big numbers, amazon story for you, we mention this going into the break, amazon rooms are reportedly becoming a hot ticket item for homebuyers. What the heck. Susan. Lauren an entire room fol the amazon boxes and deliveries and let them decontaminate before opening the box, at least that the trend in the upscale l. A. Housing market where they are having a recovery this quarter compared to a disastrous Second Quarter were the newes lt number of sales that theyve seen in 11 years, they want the Tennis Courts and outdoor space and double home offices and apparently an amazon room so sales may have dropped the home values in l. A. Are up especially for luxury space in Beverly Hills, they are up 14 this year in christie and john legend are selling their Beverly Hills mentor for 24 million, i think that is in your range. Ashley i will consider it if it has an amazon room, lets put it that way. Thank you very much, interesting stuff, nike surging after a stellar Earnings Report up 9. 5 , good time to bring in our friend gerald, our retail guru, gerald you avoid said nike was a winner, we get that but who else do you like in this field . Nike is in a special class, these are verticals, controlled and intellectual property with an amazing brand, a year ago nike told amazon to take a hike, they stopped selling on amazon theres very few people but lululemon is one, they control their own cells and athletic apparel, also other verticals like the french fashion house if you want to play with that, by the French Market like ridgemo ridgemont, these are Great Companies that are controlled by their distribution, that is not most of the retail, most retail is totally different, youre either with amazon or one of the big value players who can stand alone like walmart, target, costco, Dollar General and of course you see the strong sales on the home side with home depot and lowes. Ashley you like those stores, dont you, the big retail winners, walmart and target and you mention costco, Dollar General, why the star together . They sell essentials and provide tremendous value, this is nothing new but we are seeing all the trends that existed before the pandemic that accelerated rapidly and these companies are doing fantastic the large value players in ecommerce has accelerated as well, they do it in a separate setting, you dont have to go to the mall or go inside, you can go in or out but while youre there you are going to buy everything, costco, Dollar General, walmart, target they are going to win. Ashley based on that, do you think the expression, the weaker hands get flushed out, its a survival of the fittest, the pandemic goes on, concerns of a second wave, its going to be the strongest in this Retail Industry that they are going to come through, there can be a lot of other casualties. There will be massive numbers, still ahead not just this year but even next year, they are going to have a big hangover, you started with nike, do you realize nike is dropping Many Department stores like dillards they are not selling anywhere, they do not need them, think about the future Department Stores major brands are saying we do not need you anymore. Ashley its very disturbing for the Department Stores, amazon prime day susan li and i were talking about that, probably going to be a big event. Its way to be massive, i know susan gave two options whether suck out sales for the holidays or massive is my opinion, we are already through what used to be amazon prime day and they have that with huge sales gains, when this comes in october its going to be the kickoff for the holiday season, the reason they will not come from the date is because every other retailer is waiting around because they want to pile on and make sure they have their big online sales in the same day. Theyre trying to keep it a secret as long as they can but it will started off with a bang in october instead of november but by the time we get to black friday we will have done so many sales it will not matter and black friday cannot be what used to be theyre not open on thursday and thanksgiving day and a lot will be online, i call it mask friday, not black friday, people will be waiting online are you kidding me its not going to happen that way, its going to be massive. Ashley you are terrific, thank you so much for your insight today, we appreciate it. There are now calls to investigate Michael Bloomberg who is reportedly paying off fines for 42000 felons in florida so they can vote, congress and not gates says thats potential bribery, florida senator rick scott is here and we ask him what he thinks about that. Also amazon says it has nothing to do with echelon prime bike, you cannot buy it on their website but this only hours after went on sale, what the heck is going on, Echelon Fitness ceo is here next, we will ask him, dont go away. groans hmph. food grunting menacingly when the food you love doesnt love you back, stay smooth and fight heartburn fast with tums smoothies. Tum tumtum tum tums its time for aerotrainer, with your weight and health . A more effective total body fitness solution. announcer aerotrainers ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time, all while maintaining safe, correct form. Aerotrainers unique design allows for over 20 exercises for a total body workout. Plus, you can easily transition from one exercise to the next. Want tighter abs and a stronger back to help relieve pain . Do the aerotrainer super crunch. The prestretch works your abs even harder, engaging the entire core. 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Aerotrainers unique design allows for over 20 exercises for a total body workout, all while maintaining safe, correct form. Now its your turn to lose weight, look great, and be healthy. Get off the floor and get on the aerotrainer. Go to aerotrainer. Com, thats aerotrainer. Com. Ashley amazon telling Echelon Fitness to stop promoting an exercise bike which the company claimed was developed in collaboration with amazon, the exp prime smart connect bike which was intended to be a less expensive alternative to peloton is now listed as unavailable on amazon, lets bring in lou, the ceo echelon and speaking exclusively to fox business, the first question is what the heck is going on. Take you forgiven us time today, echelon started working with amazon in early january and during the development of the program, amazon asked us to sell our entire line of echelon connected fitness products plus we were asked to develop a bike that would fit a 500dollar retail price point, echelon in the buying decided to call the bike prime, even though all the correspondence and purchase orders called the bike the exp prime bike, yesterday we learned the internal amazon team was not in alignment, was a complete surprise to west. We are planning on rebranding the bike and echelon is excited about the strong relationship with amazon and we will continue to provide them the exclusive bike, the bike sold out within hours, that is wise not available, it sold out, the real news, we believe echelon we make a full line of Indoor Cycling bike said you know, we make rowers, fitness smears, treadmills and theyre all at affordable price but is not just available on amazon, when sporting a, costco, walmart, best buy and amazon, we are changing lives over 2000 live classes a month is 6000 ondemand in nine countries, were making fitness affordable to the world. Ashley what do you do with amazon, clearly you believe your collaborating, you named the bike prime and everything was ready to go, what recourse is there for you because youre in this embarrassing situation today. Amazon nsr working together, theyre a great company, it was a miscommunication with their internal team that they had, were already working on a new name for the bike, this is an exclusive bike for them, were already working on that with them and were excited about it, we will have a call this morning with them and coming up with a new name and launching it with a new name. Simple as that, misunderstanding in their internal team. Ashley got it. Thank you so much for coming on, Lou Lynn Tenney ceo of echelon clearing that up for us, we wish you the very best. Thank you for coming on. Thank you appreciate it. Ashley alright lets move on joe biden seems to be distancing himself from democrat socialist Bernie Sanders, doesnt he need help from the far left base if he wants to beat President Trump, we are on the story, next to come Fox News Contributor liz peek, former National Security advisor Katie Mcfarland in the story anchor Martha Maccallum, dont go away well be right back. Ashley welcome back, everybody, im Ashley Webster in for stuart today. Look at the market. The dow hanging in there we lost a lot of early gains at the session opening. The dow up 54 points. The s p now down. 2 of a percent. The nasdaq losing more ground down half of a percent. However, nike has been leading the dow, at one point adding 100 points to it. The effect is fading as they say. Nike up 9 thanks to surging online sales. The stock up 10 bucks. As always actionpacked show. The president is expected to speak at an event for veterans next hour. Were monitoring that for you. Were showing you the Supreme Court, the use Supreme Court where Justice Ginsburg will lie in repose. She will be the first woman in history to lie in state at the u. S. Capitol on friday. She will lie in repose today and perform at the Supreme Court. Also happening in washington, dr. Fauci will testify on the virus response. Any fireworks well keep an eye on them. There is Lamar Alexander on the left. Chairman powell before the senate subcommittee, if his remarks. The market is down, the dow is up 65 points but we are losing some momentum a good time to bring in market watcher mark tepper. Mark, welcome. I spoke to shah ghailani, another market watcher this morning. I said it is once the s p got down to that correction level, down 10 from its recent high there was all sorts of cash coming in from the sideline which tells me that even if the bears take over for a while there is plenty of money out there itching to get into the market, which should give us some pause for comfort, right . Absolutely. Good morning, ashley. So, look, 10 pullbacks are totally normal after a major rally. You go through, go back through history. 10 seems to be the magic number. The thing about this pullback, it was more profittaking and repositions into other stocks than overall fundamental view change on whether the market will go up or down. Along the way what weve been doing is trimming winners on the way up, names like nvidia, names in our portfolio that were up over 100 yeartodate. We are repositioning in names where we see more opportunity right now. Ashley which are . So let me give you were actually seeing more opportunity in smaller cap stocks right now. I will give you a Small Cap Stock here. Glu mobile, just over one billion dollar market cap. They are a top tier mobile game developer and publisher, from call of duty mobile, to disney, wwe, kardashian game if youre into that. The stock is trading at precovid levels. It is down 30 from its highs and they shouldnt be. They have a really strong 2021 slate next year, led by deer hunter world which happens to be their biggest franchise. It is trading at huge discount to the industry. The industry is trading 2. 8 times 12 month books. Glu is 1. 5. I think there is opportunity there. Ashley right. I want to mention on on the bigger picture, weve seen money in big tech coming out of that going into other areas. Do you expect that to continue . I do. If you look what is happening underneath the surface of the market cyclical plays are working f the market were going to continue to spiral downward you woe see money coming out of tech and see it flowing into defensives like Consumer Staples but thats whats happening. Consumer discretionary are is outperforming staples. High beta is outperforming low beta. I think tech has come a long way. I think some of the other sectors will continue to play catchup. By no means should you take that to mean you should go completely defensive. Ashley as always, great stuff. Mark tepper. Thank you very much. Thanks, ashley. Ashley and your wise words. Lets stay on video gaming as mark talked about, Gaming Company corsair going public today. Bring in Lauren Simonetti. What do we need to know . About these buys . Lauren it will start trading soon but unlike the ipo mania weve seen this month that involves mostly startups, corsair has been in business since 1994, when i was in grade school. They sell hardware but also software for videos games. Shares priced at 17. That was the midpoint of the range. Theyre one of 15 ipos this week. Two of them layered super food, thing trendy, plantbased drinks. Bentley systems, also trendy. They Sell Software for construction projects. They will hit the market as well. Both priced at 22, both above the expected ranges, ashley. The ipo market is still hot. Ashley it is indeed. Lauren, thank you. When cores say does go public well have the ceo and cofounder right here hopefully within the time frame of the varney show. Lauren, thank you. Turning to politics, joe biden trying to assure voters, no im not a socialist. Watch this . Address our camera directly, talk to voters that are worried about socialism and you raising taxes . I beat the socialist. That is how i got elected. That is how i got the nomination. Do i look like a socialist . Look at my career, my whole career. I am not a socialist. Ashley i am not a socialist. Bring in liz peek, Fox News Contributor. Great to see you, liz. This cant make the Bernie Sanders and far left very happy. I was thinking probably aoc did the whole coffee said what . They cant be happy. Theyre not happy. This really is what happens when joe biden goes off script. His scripts have said im going to be the most progressive president since fdr. And other things that are supposed to win over progressives. Ashley he is not winning over progressives this was a major goof. After the convention polling shows that progressives were really angry that the dnc basically reached out to disaffected republicans, remember all those republicans that showed up at the convention, colin powell, people like that, and john kasich, instead of appealing to progressive voters. What they say is absolutely true. Unless those progressives show up on november 3rd and vote for joe biden he is not going to win. So this was a goof because this has been played all over social media and, by the way, aoc is a person who said, in a normal place i wouldnt be in the same party as joe biden. So this is a real divide in the Democrat Party. They need turnout. Theyre not going to get it if joe biden continues this line. Ashley yeah. That divide is growing wider as we speak. Next one for you, liz, joe biden refusing to talk about who he would nominate to fill the ginsburgs seat. He was asked about it by a local News Reporter in wisconsin. Here is how he responded. This is the full quote. It says, he says it is a legitimate question but let me tell you why im not going to answer that question, because, it will shift all the focus. That is what he wants. He never wants to talk about the issue at hand. He always tries to change the subject. He is the greatest noncandidate out there. I mean this cannot be a good strategy, isnt it the issue at hand, liz . It certainly is. I think the democrat voters are very revved up putting someone on the Supreme Court. The fact their nominee refuses to be specific about this is sort of squandering an opportunity, an opportunity to contrast their candidates with the candidates that we know are being considered by donald trump. Honestly, ashley, this opportunity, this fight over Supreme Court justice is the best thing thats happened to joe bidens campaign which was completely without energy or enthusiasm up until this happened. And now if he squanders it basically not taking a position, kind of what he is doing, i think it is unbelievable political malpractice. Ashley political malpractice. Im going to remember that term. Liz peek, thank you so much for joining us, liz. Great stuff as always. Pleasure. Ashley thank you. Lets go move on now, take a look at the stock, foot locker. Lauren, theyre getting into the election . Lauren okay, so theyre teaming up with rock the vote to allow foot locker customers to register to vote in their stores using a digital hub. Okay . It is kind of crazy. Theyre also going to allow their workers to rearrange their schedule so they can leave work if they need to go vote. Look this company has a young customer. They say their mission is to quote inspire and empower youth culture. And it might be working. I dont know about you, voters seem very engaged this year. If you look at the numbers, there are 15 million Young Americans who turned 18 since the last president dential election four years ago. So theyre at home. This is a once in a lifetime experience for them. For genz. They are voting in a pandemic in a recession amid a racial reckoning. You might see a lot of engagement, a lot of turnout at the polls. Foot locker is helping to do that. Ashley were going to find out, what, 41 days. All right, lauren, thank you very much. Lauren thats right, 41. Ashley 41 to go. Still seems like years away. I dont know why. On to amazon. Amazon reportedly restricting rivals from advertising on amazon. Susan is this a problem . Susan this might be a conflict of interest for amazons case as the online marketplace while also making their own products to sell. So according to an investigative piece by the wall street journal amazon has been limiting searches on competing smart speakers, video doorbells and other devices. Rival, amazons own fire tvs, ring doorbells and echoes. One striking example in this report, the journal found even when you type in roku in the amazon search bar, it doesnt even take you to rokus own products that are sold on the site. In fact roku has been blocked from buying sponsored ads on amazon for years now according to sources in this article. Facebook is another one barred from buying ad space. Amazon now an advertising giant. You dont really think of amazon as an advertising giant but theyre third behind google and facebook when it comes to online ads. Amazon raked in 14 billion last year. That is a sizable amount. In the big tech grilling last summer, jeff bezos was grilled on antitrust. Biggest online marketplace, with close to 40 of on line purchases using that size to unfairly compete making your own products, limiting competitors from advertising on the site itself. Ashley yeah. It is a familiar battle. All right, susan. Thank you very much. Interesting though. Were going to head to break now. President trump and joe biden to face questions on the pandemic, the Supreme Court, and the economy at the first debate which is now just six days away. I cant wait. Martha maccallum will join us later this hour to take us through all of it. President trump calling on the u. N. To crack down on china over the virus pandemic. How is that going to play out . I will ask kt mcfarland coming up. First Congressman Ken Buck he has been pushing a. G. Barr who is bankrolling the violent riots in our major cities. Do we know who . I will ask him that question after this. Look, this isnt my first rodeo and let me tell you something, i wouldnt be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. Its just a loan designed for older homeowners, and, its helped over a million americans. A reverse Mortgage Loan isnt some kind of trick to take your home. Its a loan, like any other. Big difference is how you pay it back. Find out how reverse mortgages really work with aags free, noobligation reverse mortgage guide. Eliminate monthly mortgage payments, pay bills, medical costs, and more. Call now and get your free info kit. Other mortgages are paid each month, but with a reverse mortgage, you can pay whatever you can, when it works for you, or, you can wait, and pay it off in one lump sum when you leave your home. 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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. Ashley all right. Lets take a look at these markets for you. Weve been underway, for what, just about nearly an hour. The markets as you can see kind of flat. The dow was up 160 points. Now as i say it is flat at 27,288. S p down a third of a percent. Nasdaq down nearly 1 , down 92 points on the nasdaq. Show me Johnson Johnson, please. The Company Announcing it started phase three of its virus vaccine trials. This is by the way the final phase in testing. That stock, j j, up more than 1 at 145. 90. Take a quick look at nike. The Company Reported online sales were up 82 yearoveryear. Pretty impressive the stock adding 70 points to the dow. So we would be negative if it wasnt for nike. That stock up nearly 9 at 127. 33. All right. Lets move on to this story, now. The Seattle City Council is overriding the mayors veto to defund the police. Bring in william la jeunesse. What the heck is going on out there . Reporter the bottom line, ashley, the Seattle City Council sided with black lives matter to defund the Police Department of roughly 100 officers. The council by a huge margin, under in their words ferocious pressure from black lives matter overrode the veto by mayor jenny durkan. What does it mean . Eliminating police unit to clears homeless camps. Wage cut for commanders, reduction of 100 officers. To underscore the antipolice member, one councilmember read names of People Killed by seattle police. 3 milliondollar cut for cuts and 14 milliondollar infusion into Services Targeted towards community of colors. It is not much. But the council is committed to defunding the department 50 beginning next year. Supporting the cuts, democratic socialists of america. In opposition, downtown businesses. Seattle is one of three cities identified by the department of justice for allowing violence and looting. The others, new york city, portland. Where last night one man was shot. Three were arrested while fighting with police in front after Law Enforcement building. The Portland Protests have been the hiatus for a few days because of poor air quality associated with the wildfires but now, they have resumed. 75 showed up last night to protest racial injustice. Three were booked for trespassing interfering with cops. Ashley, a little irony here, in a separate incident, portland residents are complaining it took police 90 minutes to respond last night to several 911 calls regarding a man with a knife in an apartment. Back to you. Ashley yeah. They want it both ways. Complete insanity. William, thank you very much. Appreciate that report. Good time to bring in Congressman Ken Buck. He is a republican from colorado. Congressman, you actually wrote a letter to the doj earlier this month asking attorney general barr to investigate funding for these riots. I guess my first question is, have you found anything out . Well the congress hasnt found anything out. Im sure there is a federal grand jury looking into this. Their proceedings are secret. I dont have access to bank records to show who is funding antifa and other anarchist groups but it is career from the information that we have that these young people are traveling across the country, going from city to city. They are staying in hotels. Theyre is a Funding Source out there. We all have suspicions as to the leftwing donors that may be funding this but i dont have any specific information about that. Ashley what would you want the department of justice to do . To expose who is responsible and then what . Well i think they have to prosecute. Anytime that somebody is funding violent behavior, especially interstate violent behavior its a federal crime. There are Money Laundering statutes and many other statutes that apply this situation and individuals and, if there are corporations involved or other entities they should be prosecuted. Ashley what is the aim, do you think, of whoever is organizing this . What is their endgame . I think the socialists understand they cant get to where they want in this country with a constitution. They cant get to the socialist utopia under the rules of the game as theyre set up right now. America is too free a country and america is too prosperous a country under our capitalist republic system of government and unless they change the system of government, fundamentally, by canceling our culture and trying to rewrite the rules, they cant get to the socialism that they seek. Ashley very quickly, congressman, you know, look, how much do you blame the local lawmakers for not clamping down and being tougher on all of this lawlessness . I believe the president is absolutely right. Portland, new york city, seattle are primarily responsible for this, they should pay the price for this. The president is trying to protect federal assets. He has an obligation to do that. Ashley all right. Well have to leave it there. Congressman ken buck. Congressman, thank you so much. Well be very interested to find out what the investigation under covers. Congressman, thank you very much. Thank you. Ashley move on if we can. Look at walmart. We understand theyre going to be hiring 20,000 Seasonal Workers for the Online Shopping Fulfillment Centers ahead of the holiday. Walmart up half a percent in todays session. Look at shopify, the Company Announcing two employees stole customer data. The stock down 1. 75 . That breach compromised information such as emails, names and addresses as well as order details but no financial or credit card information was reportedly stolen but that stock moving lower today. Lets move on. Lets check check a record cannabis. Lauren, theyre losing a lot of money, right . Lauren wow. Look at the stock down 25 . I dont know, ashley. We thought coronavirus was good for pot smokers but Aurora Cannabis lost 2 1 2 billion dollars in the fiscal year just ended. It forecast as softer sales period for this coming fiscal year as well. Why . Well they focused on expensive, premium cannabis. That was misplaced. When you look at their Canadian Market and their American Market many people are out of work. They suffered store closures, millions of dollars in writedowns and impairment as a result. Their shares are near 52week low. Rival tilray down in sympathy. Both stocks coming into todays losses down 70 this year, ashley. Stuart up in smoke as they say. Lauren, thank you. Next one, dating app hinge. Lets talk about hinge. Theyre on track to make a lot of money, is that right, susan . Susan money in love. Dating is a lot of cash. Tinder Owner Match Group also owns tinge. Hinge is different from tippedder. More serious relationships leveraging user contacts to suggest connections instead of random suggestions. Allows see users who like them for free. You have to pay for that on tinder. Paid feature on hinge, have user profiles to show more daters. Virtual roses and light functions. Hinge currently has six million monthly active users. 400,000 pay. Compare that to hinge, tinder. That is six million. There is a big Growth Opportunity. Ashley yes, there is indeed. Interesting though, doing okay. Susan, thank you very much. Okay, the media, already criticizing President Trump ales Supreme Court frontrunner Amy Coney Barrett. Sarah Huckabee Sanders has something to say about all this backlash and she is on our show in the next hour. 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Only on verizon. 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. Hello, im michael youssef. Lately, we are hearing so many conflicting voices and i dont blame you if you are anxious and worried and troubled. But if i told you that theres only one voice that you can absolutely trust. After all, he wants nothing from you and wants to give you everything. Im talking about the lord jesus christ, who said, come unto me, all who are carrying heavy burdens and worry and anxiety. And i will give you rest. Hes the only one who can give you true rest and peace. Will you come to him . [female voice] are you waiting to find a trustworthy voice in the midst of the chaos of this world . Visit findingtruepeace. Com to find a voice that will never let you down. Again, thats findingtruepeace. Com. Ashley welcome back, everybody, we certainly lost all momentum on the markets. The dow kind of going up and down. Were up close to 200 points at the very beginning of the session. Came down to basically flat line. Now up 55 points. But as you can see the s p has slipped into the negative down about a quarter of a percent. The nasdaq also down more than half a percent now at 10,895. A slew of issues out there right now. Of course the Supreme Court, the election 41 days away. We have a lot of uncertainty there, a stalemate on the stimulus bill. Potential rise again of coronavirus. Put all that together there is quite a lot of angst out there even though when we see these dips it is seen as a buying opportunity. Anyway, enough said. Weekly Oil Inventories breaking right now. It is stus favorite story of the week. Susan you have numbers. Susan, ashley. Drawdown on the week. Looking usage of 1. 639 Million Barrels. We were looking for a decline a drop of 3. 25. We are using less oil than anticipated. Still you have oil prices holding 40 bucks in change. Less than 45dollar per barrel pricing that we saw earlier on. Ashley there is renewed turbulence in the oil market, is there not, susan . Susan this year obviously hard to forecast where oil prices are going, especially with covid. If you look at the monthly forecast for the next quarter and beyond, you have a difference of 1. 3 Million Barrels per day on average. That is the widest gap and estimate since last year. This year weve seen a collapse in oil prices during the depths of march and april. First time in history Oil Prices Went negative. These wild price swings that weve seen so far only seen twice since 1990. There are some wild cards out there at play for the oil markets. That includes china. How much are they buying. Covid cases, judge people are driving or flying once again. If eight is Reference Point t took gasoline demand to recover t might be a while. Ashley that puts it in perspective. Susan, thank you very much. Next case, President Trump addressing the United Nations urging them to hold china accountable for the global pandemic. Take a listen. President trump the United Nations must hold china accountable for their actions. In the earliest days of the virus china locked down travel domestically, while allowing flights to leave china and infect the world. The Chinese Government and the World Health Organization which is virtually controlled by china, falsely declared there was no evidence of humantohuman transmission. Ashley that is interesting, isnt it . That speech to the u. N. , which in my opinion is a pretty toothless organization but lets bring in kt mcfarland, former White House Deputy National Security advisor. Kt, look, the president s message certainly in stark difference to joe bidens who calls china a competitor and russia, just a mere opponent. Does the president stance on china have any impact on what china does . Oh, yeah, hugely. Look, President Trump, one of the reasons i supported him from the very beginning he took china seriously and he realized even in 2016 that chinese were exploiting us. But then after the pandemic, look at whats happened. They used this as a biological weapon. Isnt an irony the United Nations now cannot meet. Why . Because the whole world is locked down because after pandemic which they knew about, which they allowed to spread throughout the world and which they have now exploited. And President Trump is right to call them out. That is in contrast to joe biden t would have been a lot easier if the United States had stood up to china 10 years ago, 15 years ago, 20 years ago. Where was joe biden . He never stood up to china when it is easy. So he is not going to stand up to them now, particularly when his family has financial interests in china. So i think this is the dividing and stark contrast in their Foreign Policy issues. Joe biden, nice guy, but he will never stand up to china and donald trump has stood up to china from the very beginning and the pandemic has proven him right. Ashley yeah. Safe to say that china is really hoping beyond hope that donald trump does not get another four years, right . Absolutely. I mean i was in beijing right before thanksgiving, right as the chinese initially knew they had a problem but they werent telling the world. When i talked to a number of senior chinese leaders they assumed joe biden was going to be president. They didnt have anything to worry about. They would go back to the good ol days when the americans were doing the china niece bidding. When i said, no, donald trump has a chance of winning, i dont think he will be removed from office in impeachment. They were shocked. They were horrified. They invested a lot in joe biden. They will have a real reckoning, china and trump in term two, he will be tougher than he has so far. Ashley very quickly, kt, President Trump will speak at an event for veterans in the next hour. What do you, what kind of message would you like to hear from him . Well, i think important thing is these are cubanamerican veterans from the bay of pigs conflict and the cubanamericans have been strongly for supportive of trump throughout in 2016. Today and guess what, they have a swing vote in the swing state of florida. So i think he will do what he has done before, praise the veterans and particularly appeal to the cubanamericans and the cubanamerican veterans. Why . Because it is all about florida. Ashley it is all about florida. You are absolutely right. Kt mcfarland, i wish we could speak longer. Were having to move on. Thank you so much for taking the time out this morning. Thank you, ashley. Ashley all right. Always great. Kt mcfarland. Good rx, going public today. We talked about this earlier. The online drug Company Pricing its ipo at 33 a piece. When it debuts well show it to you. See where it goes from there. Show me teledock if you can. They are a pandemic winner for sure, basically flat today. Lauren, theyre merging with another company, who . Lauren lozango, they analyze data with companies with diabetes and other conditions. They are a Technology Company and merged with teledoc, provide patients with remote, it is all remote visits with the doctor. Teledoc is at 2150. Got a boost with upgrade from davidson. The reason they said more people are using Virtual Health solutions. Teledoc is expanding. They are merging with livongo. They merged with a Company Called in touch health. Ashley very having, lauren. Thank you. If you live on the east coast, it is likely you heard the name yuengling. They are americas oldest craft brewers. They are teaming up with moulson coors to take their beers to the west coast. We say cheers to that. By the way theyre both on the show next hour. That should be fun. First the cyberguy, kurt knudsson will tell you how to make extra cash from your driveway . I like the sound of that. More varney after this. Thats what my dad does. Good job, michael ok, lindsey now tell the class what your mommy does. My mom has super powers. Its like she can see the future. What . its like she time travels in a rocket ship. Thats cool and then she comes back saying try this or try that. She helps everyone. She helps them feel less worried. Wow mommy, so what is it that you do . Im a financial advisor. She is aig proudly supports all the professionals taking care of our Financial Futures. 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. Ashley lets check the markets for you. S p and nasdaq continue to be lower, but dow holding on to gains essentially flat. 27,302 on the dow. Global pandemic people want new ways to make money. We know that. Lets bring in kurt knudsson, we call him the cyberguy. You have details how you can pick up extra cash from the come forth of our own homes. I like the sound of that. Ash, it is true, good morning to you, were talking literally surrounding me is unrealized revenue that could be right in your own driveway or home. We start with something that has been a huge success in the pandemic. Right behind me this rv, out dorsey the Worlds Largest rental platform is up 350 yearoveryear from last september. 90 percent of bookings from september are firsttime rv users. My buddy rented one with his family about four months ago. He loved it so much, he bought one. And i said, are you going to put it in the rental thing . It is already in there and booked through the end of the fall. Just listen to how he is getting 445 a night. When i get to take great road trips. When im not using it, i can rent it out, another family can take a great road trip and i can get some passive income. 1. 3 million was earned in a period of six months ending september 15th, from the highest revenue earner on outdorsey. It is a compelling argument for those who own an rv or who may never have thought owning an rv. My buddy whose business sort of tanked, said this is the new way to feed my family. This is incredible. Sitting out there could be a car that you own. Turo. Com allows you to rent the car not using it. People having second or third cars are putting them in this program. The highest merger ironically a Jeep Wrangler at 2 1 2 times what youre Monthly Payment would be. And there is a thing called the carkulator, to find out what your car might rent for to earn extra cash. People behind me here, is website for renting boats around the company. In fact its a global company. I dont expect you will get profitable with your boat unless it is like a water sport toy but it will offset the overhead to be very helpful n terms of your own garage, home, driveway, extra space around your house, neighbor. Com has turned out to be a moneymaker for people where unused space for parking, storage is matched with people nearby looking to places to put for example, the rv. Just a bunch of junk instead of using the Storage Space to saving money. Average earner annually on a garage space, not even all the garage is 1300 for that. If youre going to rent your stuff out, these tips, check for the Insurance Coverage you have already got. You want to make sure, ash, it is not, not exempted from that. Use one of the rental platforms that actually has coverage. And then be very Something Like that tiff about the renters. All of these platforms let you have control of that. I will list on my blog, at cyber guy. Com, sign up for a free newsletter, how to sign up the stuff, make it easy for you, a little later on today, ash. I will post it. Ashley cast nating, stuff, kurt, im so glad your friend was able to turn it into a money making venture. Kurt, thank you so much. Well move on. Notre dame postponing the game against wake forester after reporting new virus cases. So what now . Well ask Martha Maccallum, her son by the way, tall lentorred linebacker on the team. Well ask martha about the first debate only six days away. Well have more after this. Diane retired and opened that pottery studio. How did you come up with all these backstories . I got help from a pro. My financial professional explained to me all the ways nationwide can help protect Financial Futures in peytonville. Nationwide can help the greens get Lifetime Income because their son kyle is moving back home and could help set up a Financial Plan for mrs. Garcia. And he explained how nationwide can help mr. Paisley retire early and spend more time with his pal, peyton. And their new band. Exactly yeah. Dont forget the band. I havent. Here . Nah. Here . Nope. Here. When the middle of nowhere. Is somewhere. The allnew chevy trailblazer. You can go your own way go your own way your wireless. Your rules. Only Xfinity Mobile lets you choose shared data, unlimited or a mix of each. And switch anytime so you only pay for the data you need. Switch and save up to 400 a year on your wireless bill. With the carrier rated 1 in customer satisfaction. Call, click, or visit your local xfinity store today. Ashley welcome back, everybody. Take a quick look at the markets for you. We lost some of our im. S p down a quarter of a percent. Nasdaq down half of a percent. Lacking direction is what we like to call this. All right, were just six days away from the very first president ial debate which will be hosted by foxs very own Chris Wallace. Cant wait for this. And now we know what the top picks will be. The candidates will face questions about the Supreme Court, their records in office, the coronavirus pandemic, the economy, the issue of race and violence in america, and election integrity. Lots, lots and lots of issues to go at. Martha maccallum, anchor, executive editor of the story on fox news. Martha, great to see you. Great to see you. Ashley yeah, look some on the left they are annoyed that Climate Change is not among the debate topics. What is your response to that . Well i would imagine it comes up in the records area or in some of the other parts of the debate but i think that if you know, any of us looked at sort of the topics that need to be discussed, if you look at the selection in hindsight, covid19 will clearly rank as one of the most topics. We passed 200,000 deaths in this country. Were now in the process of hearing from dr. Fauci and dr. Redfield on capitol hill what they expect over the course of this winter. They have some encouraging things to say, also some warning people need to keep in mind as we move forward. Im not surprised by the topics. They are what i would choose as well. I think well hear a very broad spectrum. Im sure Climate Change will come into the discussion as well. Ashley we tried a number of Trump Campaign officials on this show that consistently told us that they expect joe biden to perform well. I dont know whether theyre sandbagging. They are saying he is pretty good in these situations. However, i asked you, martha, without a prompter and aggression of donald trump, how do you think it is going to play out . I think it will be fascinating. Why everybody will be watching this, ashley. These are two, you know, President Trump has not been on the scene that long. We all know he is a very strong debater. He doesnt hold punches and, he will come at joe biden in a very forceful way. I also think given all of the discussion that weve seen about expectations for joe biden, the game now is to lower the expectations in a way in terms of, you know, the bar as i should say is very low, right . If joe biden goes out there and has a decent night, hold as conversation that is cogent and people understand what he is saying, there is no big tripups, he doesnt ask for the prompter to be moved up a line, anything along those lines, we dont expect there will be one for him, there will be people who look at the whole thing say, well, he won. I do expect youre going to hear after one of these debates the president had a bad night and joe biden will have a good night. It is interesting also to note that were seeing in some of the polling that a lot of voters do not think that these debates will be the deciding factor. Now something, something really big happens, if there are moments that made people pause, to think about whether or not they made the right choice, i think there is room for movement. The undecided voter is in the 8, 9, 10 range in this country. Obviously those are the people that these candidates will be speaking to most directly. It will be absolutely must, must, mustsee tv when Chris Wallace talks to both of them on tuesday night. Bret baier and i will be there in the venue. Well be watching it firsthand. Well have analysis before and after as well. Ashley terrific. I look forward to it. I cant wait. I got to tell you. I have to mention this, martha, highly anticipated match between notre dame and wake forest has been delayed after, well, what, the fighting irish confirmed seven of their players tested positive for coronavirus. Whats your reaction to this . Well i do have an update. Breaking news update on this. The game has been rescheduled for december 12th. It will be played then. I have to say that you know, father jenkins, the president of notre dame, has been really out in the forefront of handling this on college campuses. He was, i believe the first president to say were going to go back to school on august 10th, which they did. They have paused when they needed to pause. There have been pauses in practice when that needed to happen and so they are acting out of an abundance of caution. They have had an enormous, you know, the vast majority of students who have contracted covid have already recovered from it on campus. They do a dashboard every single day which shows you the numbers. This is a wise move. I think they women take a pause. They will look everybody down a little bit. They will get back to football what they do, stellar academics. Its a huge week for notre dame as they hopefully anticipate the choice of Amy Coney Barrett who is a Notre Dame Law School graduate and is someone who is widely anticipated to be the lead frontrunner for the Supreme Court justice pick as well. Good week for the irish overall. Ashley we should mention very quickly, very quickly, martha, 10 seconds, your son is a star linebacker on the fighting irish. What does he say . Is ready to play . He is a walkon. I wouldnt say star linebacker. He is a star in my book every day, of course. But he is a very, he is a very enthusiastic member of the team. Im proud to wear that gold helmet. Theyre exciting to get back on the field but they also understand that safety is the utmost precaution. They have been incredibly disciplined how they have handled all of this. I think everybody is very proud of them. They will be back on the field soon. Ashley we wish him the very best. Thank you, ashley. Ashley thanks so much for joining us. We do appreciate it. Thank you very much. Martha maccallum. Big show of course for you still ahead. Florida senator rick scott, what does he make of Mike Bloomberg spending 16 million in his state to allow felons to vote. Were also following the Supreme Court battle with huckabee sarae sanders. James comer will tell us about the dems effort to delay the 2020 election. Well find out if joe biden is as pro middle class as he claims to be. So much to get at. Well be back. 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Were seeing all the trends that existed before the pandemic accelerate dramatically. Echelon and the buying department is the side of the call that fights crime. Yesterday we learned that they were not in full alignment. It was a complete surprise toes us. If the market were going to continue to spiral downward, youd see money flowing into defenses like Consumer Staples, but thats not whats happening. Ashley all right. Welcome to the third hour of Varney Company. Im Ashley Webster in for Stuart Varney. Its been a big morning so far. But were only just gotting started. The markets right now have been drifting, lets put it that way. Weve seen the dow start off close up to nearly 200 points, but since its fallen back as have the nasdaq and the s p, relatively small down pretty much from the open but nothing too dramatic. Theres a live look, by the way, at the white house where President Trump is about to deliver a speech honoring the bay of pigs veterans. Of course, well bring you any highlights that comes from that event. Lets get right to the race for the white house. Congressman matt gaetz calling for a bribery probe into failed president ial candidate Mike Bloomberg. This after the billionaire reportedly is raising 16 million to help convicted felons regain their voting rights. Good time to bring in senator rick scott. I never thought id ask this question, but, senator, could felons make a big difference in the swing state of florida . Well, first off, every votes important in florida. I mean, ive had three statewide elections, and theyre very close. So you have to work very hard to get all the votes. The problem that bloomberg has is that moneys not going to buy this election. If money bought elections, then Michael Bloomberg would be the democrat nominee. So if you look at floridians do not want joe biden, so bloombergs trying to sell a bad candidate. Think of how many people have come to florida because theyre sick and tired of taxes in other states, so joe bidens big tax increase is not going to go over well. He apiewzs communist appeases communist dictators. We want to hold, we want to do hold xi, hold the castro regime and maduro accountable. On top of that, the Democrat Party has become the antipolice party, and in florida were at a 49year low in our crime rate, and we love our police, our sheriffs and Police Departments. The denial contract ares last week democrats last week blocked a revolution, so the resolution, so the problem bloomberg has is money is not going to fix joe binds problems. Ash a ash but what hes doing, its not illegal, is it . He can do it if he wants to. Well, the courts will end up deciding. This issues been going on in the courts for a while, so i assume theyll continue to decide. Every votes important in florida. You have to go out and work hard to win these elections. Donald trump has done a good job, hes done a lot of work in florida, stopping offshore drilling, fixing putting up the money to get the dike at lake okeechobee fixed, holding the castro regime accountable, those are big issues in florida. Ashley you know, we just showed earlier as you were speaking, senator, a new poll that shows President Trump leading joe biden but about 4 points among likely voters. Still very tight, to your point. Does florida worry you . Well, if you look at my race and President Trumps race in 2016, the polls always stated we were going to lose. The polls are always skewed to the left, so generally the polls have been off, i dont know, a few points. So i think trumps going to have a big win. I think its going to mart, you know, the poll that matters is on november 3rd. But i think hes going to have a big win because hes on the right side of the issues, and bidens a bad candidate for the democrats. The Democrat Party does not fit into what florida voters are interested in. Theyre not interested in socialism, radical left. Ashley right. I wanted to get to this issue before we have to let you go. Of course, you were the former governor of florida. The current governor, ron desantis, in florida proposing a new bill aimed at cracking down against violent protesters, rioters. In the proposal hes also calling r calling for any municipality that moves to defund the police will lose their state funding. Whats your take on that . Well, i think its important to stand behind our Law Enforcement. Thats why i did the resolution on the senate floor. Im cosponsoring a bill with thom tillis to make it more federal penalties if you attack Law Enforcement. So i think anybody thats going to stand up and defend our Law Enforcement, im going to agree with them. I mean, i love the sheriffs in my state, the Police Chiefs and everybody in Law Enforcement for what they do to keep us safe. And they put their lives on the line every day. We lost 51 members of Law Enforcement in my eight years as governor, and these are people that, you know, its a tough job. Ashley it is a very tough job, theyre never paid enough, in my opinion, senator. We thank you for your time today though. Thank you very much. Senator rick scott, we appreciate it. Byebye. Ashley as always, thank you. Thank you very much. Lets take a look at this now, a brand new oped in the wall street journal titled whos protesting now, the New York Times discovers antifa in the suburbs. Lets bring in the author, our good friend james freeman. James, lets begin with, or well, what does this mean for more violence . Well, i think its disturbing. Its a report good to see the times covering it. Its obviously been covered elsewhere as well. The continuation of violent protests expanding into different areas, mentioned portland and also other cities where weve seen these kind of campaigns of intimidation by leftwing radicals. And i think the interesting thing is for next weeks debate. This is going to be one of the topics, the issue of violence and race in cities and the protests that have come from that. Itll be interesting to see for joe biden who has basically been most of the time that sort of violent protest is the result of rightwingers or white supremacists. Hes going to have to, i think, reckon with the amount of violence being promoted by. [laughter] wing radicals. Leftwing calls. Ashley we had senator, actually, we had a congressman from colorado earlier, james, a republican, who said hes contacted the department of justice. He wants them to investigate who is behind the coordination of these violent protests. Hes convinced that theres money involved with groups of young protesters, theyre on the move, they stay at hotels. Someone has to be orchestrating this. Do you think thats true . Well, i think thats certainly a good area of inquiry when were talking about, again, not peaceful protesters, but groups that are not only committing acts of violence and advocating violence. The New York Times report talks about there was one sort of antifaled event in portland recently where along with the protesting and the threats of violence there was a collection of books on sale basically about how to destroy property, attack people, talking about violence against police officers. This is, this is really im glad its finally getting the attention it deserves, and i dont think its addressed by both candidates next week, its a problem. Ashley but it has to, to your point, james, play in favor of President Trump who has made law and order a big part of his campaign. Well, i think it, we have seen very clearly from a lot of polls over the last several weeks is people want injustices addressed, they if there are bad cops, they do want justice to be done, but they generally, as you would expect, like police. They like law and order, they like safe streets. And i think that will be one of the themes next week. Mr. Biden has kind of tried to generally avoid the topic. He has on occasion certainly said that the violence is not the answer, but i think he is probably going to have to reckon with the amount of violence that is still being perpetrated by people on the left and its not just the actual violence, its threats and intimidation. The New York Times notes the situation of people demanding that an American Flag be removed from a home in portland or they would burn it down. This cannot be tolerated by elected officials and certainly not someone who intends to be president. Ashley absolutely. Complete insanity, thats what it is. Yeah. Ashley james freeman, thank you so much as always, james. Thanks for joining us. Thanks, ash, appreciate it. Ashley thank you. Another ipo launching today. Corsair gaming. The Company Founded in 1994, will start publicly trading for the first time today. Theyre offering 14 million shares with a starting price around 1618 per share. Stay tuned, because the ceo will join us right here on varney as soon as they go public, so were looking forward to that. All right. September has been a big month for ipo, no doubt about it. Susan, how are some of these companies doing . Has it been a good decision . Coming back down to reality with the worst september weve seen in almost a decade. Snow flake seems to be the poster child for ipo mania. Last weeks debut more than doubling on day one, of course, after pricing its ipo around 120 a share. Now, one analyst calls it a sell, the most overrated stock in tech according to some. 100 is a bit more reasonable. Unity software, shares at 52, and it was up nearly 6 on day one. Or a look at whos actually buying, its not institutional. Its not the fidel fewses or even the investment banks or the Big Hedge Fund managers, its more retail traders, mom and pop bidding up these stocks and as i mentioned before, there are very little shares available for the broader public to buy. So much demand, very little supply, thats when you see this astronomical pricing in debuts. Were still waiting for good rx, still hasnt opened yet in day one today. Ashley lots to look out for. Susan, thank you very much. A new survey shows just 13 of people willing to get a krone Coronavirus Vaccine immediately after its release. That is down from just last month. What is causing the drop in confidence . Well discuss that. Also, a brand new report claims democrats trying to delay the election. Congressman james will explain how. That story coming up. And potential Supreme Court nominee Amy Coney Barrett attacked by the left for being a christian and a working mom. Former White House Press secretary Sarah Sanders calls this hypocrisy. She joins us next. Devout cath lynn luck faith beca point of contention during her confirmation hearing for the 7th circuit appeals court. Whoever President Trump nominates would move the court firmly to the right, making it solidly conservative. One of the leading contenders cleary opposes clearly opposes abortion rights. She would energize antiabortion activists and the religious right. The 48yearold barrett is a favorite of religious conservatives for her antiabortion views. Ashley well, the mainstream media, as you can see, wasting no time launching attacks on potential Supreme Court nominee Amy Coney Barrett over her christian faith. And also take a look at this newsweek headline. It reads how charismatic catholic groups like Amy Coney Barretts people of praise inspired the hand maids tale. Thats from newsweek. Come in sarah Huckabee Sanders. Why are attacks like this becoming so acceptable . I find it absolutely disgraceful. And its such hypocrisy. These are the people that constantly are lecturing the rest of us about empowering women and tolerance, yet the only thing they want to empower is their radical left agenda. It is absolutely outrageous, and we have to continue to call them out, and we are saying enough is enough. We will not be bullied by the liberal mob, and we have to stand up for not just Amy Coney Barrett, but for all women. And they should be championing the fact that there are qualified women to put on the court. They should be excited about that. But instead they look for everything they can to try to bring her down, and it is absolutely shameful and disgraceful and hypocrisy at its very worst. Ashley a couldnt agree more. Sarah, i want to take a look at this new fox news poll showing the voters think joe biden will do a better job with the Supreme Court nomination. Finish so i guess, sarah, biden is not answering questions about the Supreme Court, or he certainly wont release his picks. I guess my question to you is, is it a strategy thats working . I certainly think so. I think the president has a constitutional obligation to nominate somebody. I think the people that he has put out on his list will absolutely energize the republican base. But also at the end of the day, this is the president s job. He should fulfill it. I think that joe biden, any poll suggesting hes going to do better, how could they possibly know . We dont know what joe biden is going to do other than put somebody thats probably from the very far radical left that does not identify with the majority of americans which is why theyre not telling us who they would put on the court. The fact that he is so unwilling to let the American People know the type of person or any of the actual people that he would nominate, i think, is problematic and such a huge contrast to President Trump who has put out a list of very qualified individuals. You know exactly what you will get in donald trump. We have no idea who joe biden is going to put, but if its anything like the rest of his campaign and his rhetoric and the people he has surrounded himself like aoc, then we can only imagine its somebody from the radical left, and thats i why theyre so ashamed to put them out in the public. Ashley i want to quickly, before we have to let you go, talk about the first debate now just six days away. I cant wait. We know theres going to be six topics including the Supreme Court, also the economy and race and violence in cities. What do you think voters are most interested in to hear about . I certainly think the Supreme Court is top of mind for a lot of people right now. But at the end of the day, the two biggest drivers that i think particularly for undecided voters are going to be the economy. It always comes back, its the economy, stupid, it always comes back to that. Its hard to argue that anyone is better off under a joe biden presidency than they have been under Donald Trumps booming economy that we have seen skyrocket under his administration. Deregulation, tax cuts, everyone has done better under this president. I think you can certainly expect that to continue. Hes got a proven record after we come out of the coronavirus pandemic. The other thing i think that is also on a lot of peoples minds, they want to know that they can actually be safe in their communities. They want a president whos fighting and standing up for law and order. Donald trump has been talking about that since day one. He has credibility on both the economy and law and order. I think those are going to play very well for the president at the polls in november. Ashley i think the ratings are going to be very i high. Sarah sanders [laughter] thank you so much for joining us. We appreciate it. You bet. Thanks for having me. Ashley all right, thank you. Lets bring in lauren. Lauren, whats this about winning money during the president ial debate . This story is just for you, ashley. So there is a president ial debate game, and we can all play on tuesday if you have the app called fox bets super six. Normally you would use this for sports, but to get americans more engaged in politics, fox is letting them bet on what could happen next week on the debate stage in cleveland. 25,000 is up for grabs. Will President Trump and Vice President biden shake hands . If. [laughter] or fist bump or elbow bump . Who will wear a face mask . What nicknames will be used . So its questions like that, like i said, you can win 25,000. Ashley like whos going to win the coin toss. Lauren, very interesting, thank you. Were going to stay on the election and take a closer look at joe biden. Now, he says he is promiddle class when it comes to taxes, but is he really . Lets bring in Hillary Vaughn live from washington. Hillary, does joe bidens voting record match what he says . Reporter well, ashley, whats interesting is when you take a look at bidens long record in the senate, at almost every opportunity he voted against tax cuts from taxes that would benefit the very top to some that would trickle down to middle class families and Small Business owners. So so taking a deeper look into his record, in 2003 he voted against tax cuts on Capital Gains and has consistently voted against e any decision to lower Capital Gains taxes. And, in fact, voted to raise Capital Gains taxes as well. He voted against 350 billion in tax cuts over 11 years in 2003, much of which would benefit a large strum of tax pay spectrum of taxpayers from Small Business owners to those in the upper and middle class. He also seated against repeal of the voted against repeal of the death tax which some create sicks say actually critics say actually impacts Small Business owners, farmers as well when they want to pass down their farms to their children. He also voted against the repeal of the alternative minimum tax in 2007. Thats a tax that at one time was considered to mostly impact large families, people who were married or those who live in high tax states. He also voted for raising the tax rate on people earning more than 1 million in 2008. But a lot of this to focus on what his tax plan would do now, ashley, with a lot of analysis or different analysis of his tax plan now would say it would raise taxes on tupper middle class, and it would upper middle class and would impact businesses. Ashley . Ashley all right. Lots to digest there. Hillary, thank you very much. I want to take a look at shopify, if i can, two of their own employees implicated in a data breach, the company saying it affected fewer than 200 merchants. The stock down about 10. Also take a look at walmart. Theyre going to to be hiring 20,000 Seasonal Workers at their ecommerce Fulfillment Centers ahead of whats expected, of course, to be a big holiday rush. That stock at 138. Amazon, by the way, is looking to fill 100,000 new positions to keep up with a surge in demand. Coming up, were going to take you behind the scenes of a brand new Fulfillment Center where new workers could get big bonuses. You dont want to miss that. But first, theres something to cheer about. Molson coors teaming up to brew and sell more beer around the country. Well have more on the Historic Partnership right after this. Im searching for info on options trading, and look, it feels like im just wasting time. Thats why Td Ameritrade designed a firstofitskind, personalized education center. Oh. Their awardwinning content is tailored to fit your investing goals and interests. And it learns with you, so as you become smarter, so do its recommendations. So its like my streaming service. Well except now youre binge learning. See how you can become a smarter investor with a personalized education from Td Ameritrade. Visit tdameritrade. Com learn groans hmph. food grunting menacingly when the food you love doesnt love you back, stay smooth and fight heartburn fast with tums smoothies. Tum tumtum tum tums 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. Ashley lets have a quick look at the markets for you. All of them moving modestly lower. The nasdaq though down nearly 1 , nearly down 100 points. President trumps also speaking right now in honor of the bay of pigs veterans. Hes also Just Announced new sanctions on cuba. The president saying that the treasury will prohibit travelers from staying at properties owned by the cuban government. The u. S. Will also ban imports of cuban cigars and liquor. Americas old brewer, craft brewer, is akonic iconic on the east coast. Now they are teaming up with molson coors to take their bierce out west. Joining me now is wendy ewing, a sixth generation Family Member and the ceo of molson coors, i bush i had some samples i wish i had some samples with me right now, but met me start with this, if we can. I want to begin with wendy. Why does this partnership make sense . Whats behind it . Good morning. Thank you for having me. This is something thats been important to our family. A 190yearold family company, fifth and sixth generation family business, but were primarily sold along the east coast, is so were very excited to expand west for the first time in our Company History and do it with molson coors who are world class brewers and operators. Itll give us a chance to bring our beer to consumers that have been asking us for it for many years. Ashley very good. Gavin, why does this make sense for coors . Well, when we launched our revitalization plan and thank you for having me on were looking to grow our top line, and this provides a huge Growth Opportunity for both ourselves and for the yuengling company. Our base, when we go there, is zero, so huge Growth Opportunity for us and right in line with the plan we launched last year. Ashley interesting. Next ones for you, wendy. Maybe the changing taste the, in the last year youve launched a low carb beer, also a chocolate porter which sounds lovely, by the way. Are consumers tastes changing . Yeah, i think so. I mean, were a company thats built our core brand, so were known for our lager, black and tan and golden pistoller in, and back in march of this year we launched a low carb beer called slight which has had tremendous success for us. And last year around this time we prosubstance abused our more introduced our more weve got some news to share on that in the coming days which were very excited about. Ashley fantastic. Gavin, want to ask you quickly about talking about changing tastes, the younger generations havent been so much beer drinkers. Theyve gone towards these hard seltzers. Have you seen that trend, and how do you respond . Weve certainly seen that trend, started a few years ago and has accelerated as its gone into the pandemic. We responded with two new brands, we launched at the gunning of the year which has a clear point of differentiation and coors seltzer which we launched just a few weeks ago. With its Rocky Mountain water refreshment is placed perfectly into the hard seltzer space, so were particularly excited about both of those brands. Busy is a top brand on nielsen and coors seltzer has got off to a tremendous start. Its only been in the market two week, so were particularly excited about both of our new launches. Ashley very good. Wendy, just a quick question for you. How has the pandemic impacted your sales . Some, as we know, some companies have benefited from a lockdown. Are people staying at home and ordering your beer to drink . You definitely see more athome consumption,s but for us its really hurt with the onpremise, the closure of bars and restaurants who are great partners to us. Our brands do really well in draft. But i think youre also seeing consumers returning to tried and true brands that they know are staple Companies Like yuengling, so we see improvements, but were hoping the bars and restaurants can open up again soon. Ashley you and many others. Wendy and gavin, thank you both for joining us. We wish you the very best of luck with your new venture. Thank you for being on fox business. Thanks for having us. Thank you very much. Ashley all right. Next case, restaurants in chicago fretting how to survive of the brutally cold wasnt with restricted Indoor Dining. Its a question that many in the north are asking. Lets bring in Grady Trimble live from chicago. Grade duh, what plans are in place to get patrons dining out in the cold, so to speak . Reporter well, theyre trying to drum up ideas, but its going to be tough, ashley. Were at an iconic restaurant here in chicago, and theyve been around since 1941. Frank sinatra has eaten here, lucille ball, but now theyre worried as winter approaches, they might not hang on for much longer t. City has started a design competition. I want to show you some, people came up with ideas like or Storage Containers or, little igloos in places where people can fit with their own private party where theyre protected from the elements outside. But the problem is, as michelle the owner here will tell you, you just dont have the money to spend on things like that right now. Thats right. I appreciate the creativity. Of course, we all do as the Restaurant Community here in chicago, but the reality is, you know, with some of the permitting requirements and the space requirements, its just not financially feasible. Reporter and so what you really need is Indoor Dining to expand capacity. You have about fewer than 40 chairs out here. If you could expand to 50 inside, you could get up to 140 seats. Thats correct. Every we have about 36 seats outside right now and 67 inside, so that 50 increase gives us that fighting chance to at least have some volume to make numbers that will help us sustain through the winter. Reporter and, ashley, thats what its all about, that fighting chance. A lot of people really arent comfortable eating inside e yet, but at least if you expand capacity, they have that option. Of course, restaurants also would appreciate any help they could get from the federal government as well. Ash . Ashley yeah, im sure they will. All right, interesting stuff. Grady trimble, thank you. A brand new report claims that the democrats are trying to make last minute changes to voting to help boost their chances of winning the election. The congressman behind that report will join us live coming up. But first, today is amazon career day. They are looking to add 100,000 employees. Jeff flock is live at a new amazon facility in illinois. Hell join us, hell join us next. Youre clearly someone who takes care of yourself. So when it comes to screening for colon cancer, dont wait. Because when caught early, its more treatable. Im cologuard. Im noninvasive and detect altered dna in your stool to find 92 of colon cancers even in early stages. Tell me more. Its for people 45 plus at average risk for colon cancer, not high risk. False positive and negative results may occur. Ask your prescriber if cologuard is right for you. Im on it. Thats a step in the right direction. Im on it. Good job, michael does. Ok, lindsey now tell the class what your mommy does. My mom has super powers. Its like she can see the future. What . its like she time travels in a rocket ship. Thats cool and then she comes back saying try this or try that. She helps everyone. She helps them feel less worried. Wow mommy, so what is it that you do . Im a financial advisor. She is aig proudly supports all the professionals taking care of our Financial Futures. Ashley quick check on the markets for you. Major averages, as you can see, down on weakness in big tech in particular. Nasdaq down around 1 . Now lets take a look at twitter, if we can. That stock is moving higher, up 8 after Pivotal Research group upgraded them to buy. That stock, as you can see, up 46. 23, up 3. 50. Take a look at nike, they hit a record high after posting huge numbers last quarter. Online sales led the way, up more than 80 in the quarter yearoveryear. That stock up, as you can see, 9. 5 , nike at 128. Lets bring in Lauren Simonetti. Whats the latest on this conflict between amazon and echelon . What a story. Okay, so Echelon Fitness launched a 500 exercise bike called the prime bike developed, they said, in collaboration with amazon. Amazon said, uh, no, thats not our product, and they told echelon are stop selling it. Well, on this program earlier echelons ceo clarified. Echelon and the buying department decided to call the bike prime even though all the correspondents and our purchase orders call the bike the es prime bike, yesterday we learned that the internal amazon team were not in full alignment. It was a complete surprise to us. You know, we are planning on rebranding the bike, and echelon is excited about the strong relationship with amazon. So the bottom line here, ashley, is that customers apparently want to work out from home at a much cheaper price than peloton offers. Echelons prices is about a third of pelotons. And news that amazon is not involved in virtual fitness is sending peloton shares to a record high. Just moments ago. [laughter] Ashley Ashley . Ashley all right, lauren, thank you very much. I thought we were going to get another sound bite, i have no idea why. But what a fascinating story. Talk about getting your lines crossed, somewhat embarrassing, but there you go. Take a look at amazon, if we can, they are adding 100,000 employees. Guess what . Jeff flock in the middle of it life at a new live at a new amazon facility in illinois. All right, jeff, give us a tour. Reporter i guess pretty much fitness bikes is the only thing amazon isnt in, apparently. You are getting, ashley, a first live look inside the latest, newest amazon Fulfillment Center. This one just outside chicago. Theres more than a hundred New Buildings including Fulfillment Centers that amazon is opening this year, and heres the headline, they need people. Look at all these racks, empty right now because this place has just opened, theyre just getting it up to speed, but they need 100,000 people to do all the work. Its pretty crazy. And, in fact, at this location theyre even offering 1,000 signing bonuses to, you know, come in and populate this place because they need hundreds of folks. And heres all your stuff. This is where they store the stuff waiting for somebody to buy it. I dont know if you spin around here, i have a question for you. What do you think the biggest selling item in this Fulfillment Center is . Take a guess. A. Ashley i have no idea. I have no idea. Youre going to have to tell me. Reporter its not squatty potties, theyve got a lot of those here [laughter] but if you know what that is, baby diapers. Baby diapers, biggest seller. There you go. Ashley wow. Well, theres so much we could say to that, jeff flock, but we wont. Always fascinating to get inside these amazon facilities, especially when theyre the up and running and humming along. They are fascinating. Jeff flock, thank you so much. Appreciate it. A brand new report claims that the democrats push for mailin voting raises some serious questions about election integrity. One of the authors of that report, House Oversight Committee Member james cuomo, hell join us next to explain. 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 if i could, baby id how can i, when you wont take it from me you can go your own way go your own way your wireless. Your rules. Only with Xfinity Mobile. Ashley l. Lets take a look at the tes, hitting session lows, down nearly 9 . Susan, whats the news here . The latest news is that there ises a global outage on teslas internal systems according to electric, owners cant connect to their cars through the mobile app internally. Tesla is unable to process deliveries and orders. However, electric says there is some connectivity in two out of three car owners seeing some response. On the system itself. Now also some other breaking news, this is coming fast this morning on tesla, looks like theyre i suing to block the trump tariffs, this pertains more to the computer screens and the display screens that are used in the model 3 electric cars that are made in china. It has nothing to do with the cars themselves. Now starting off this morning with disappointment over battery day and the announcements yesterday. Elon musk, yes, touting a new battery, but it wont be produced in size at least for another three years. However, he says we might get a 25,000 selfdriving car in three years and producing 20 million vehicles each and every year. As you know, ash, elon musk, he hypes up a lot are, delivering is still a bit, i would say, spotty. Ashley yeah. Yes, i would call battery day underwhelming. All right, susan, interesting. The stock taking a hit today. Lets move on. Two Top Republicans releasing a report this morning, how democrats are attempting to sow uncertainty, inaccuracy and delay in the 2020 election are. Lets bring in congressman james como, Ranking Member of the House Oversight committee. And, by the way, one of the authors of that report. Congressman, good morning to you. What the heck is going on . Well, jim jordan and i are trying to bring attention to the fact that many blue states are trying to change the election rules in the middle of the game. Theyre sending out new guidance to all the Election Officials in their states, making it much more, much more theyre making the rules more liberal, making it much easier for election fraud, and we wanted to bring that to attention because the momentum has clearly shifted in this race, clearly on the side of donald trump and the republicans now, and i think the chem democrats are trying to overreact by changing election rules. Ashley you know, there are a growing number of people, and Stuart Varney on this show has talked about it often, he believes that come november the 4th we are not going to know who won the election. It could be days, even weeks, and god forbid more before we actually get a final tally. Do you agree with that . I agree completely, and thats very sad. One of the worst rules thats out there now is the fact that several states say you dont have to have the ballots in by election day. In fact, many states its unclear how many days after the election the ballots can come in. Nevada just recently changed their rules and said the ballots received after the election do not even have to be postmarked. This is the sort of thing that jim jordan and i are trying to highlight, and this is a concern that every american should have right now. Ashley well, your report is highlighting this, congressman. But what ultimately is going to come of it. I mean, whats going to stop these states from moving forward with these changes . Well, i think that a real scenario here is that donald trump ones the popular vote on election wins the popular vote on election day. Republicans are going to vote in person, they know the safest and most secure way to vote this election will be in person. Dr. Fauci has said its okay to vote in person but nevertheless, therell be a significant number of absentee ballots both by republicans and democrats, many more by democrats. And i think that if people see Election Night that Donald Trumps a clear winner, but over the course of days and weeks, more and more of these absentee ballots mysteriously start appearing in these blue states that have changed their election laws, then i think americans should be concerned. Thats why we need to fill the vacancy on the Supreme Court. This election could very easily come down to the Supreme Court just like gore v. Bush did. And i think that its very important that the American People see exactly what the democrats are trying to do. The momentum has shifted, and theyre trying to change the rules in the middle of the game, and i dont want to see that happen. Ashley all right. Well is have to leave it there. Congressman comber, thanks for joining us. Itll be interesting to see what kind of reaction we get from that report. Thank you, congressman. Thank you for having me. Ashley i just wanted to check gold quickly. Susan, a new report saying that gold, while it isnt a top asset anymore no. Currency,. [inaudible] its not just one, its not just bitcoin. That index is up 66 so far this year, surpassing the 20 returns that youve seen for gold. Investors typically run to Digital Currencies as a store of value when Central Banks are printing as much money as theyre doing right now, and that means currencies weaken as a result. Another i emerging use of cryptocurrency, typical lending and borrowing. This allows you to earn interest and savings like bank accounts, and you completely sidestep the traditional lend arers. And what do you think, ashley, im going to convince stu of cryptocurrency and bitcoin . One day . Ashley not in a month of sundays. Hes never going to touch it with a 20foot pole, let alone a 10foot pole. You can keep trying, susan. Thank you very much. You can keep trying. Markets moving lower, well have more varney after this. Now is the time for a new bath from bath fitter. Every bath fitter bath is installed quickly, safely, and beautifully, with a lifetime warranty. Go from old to new. From worn to wow. The beautiful bath youve always wanted, done right, installed by one expert technician, all in one day. Ashley all right. Lets take a quick check of the markets. If anything taking another leg down. The dow off 100 points now. The nasdaq down 1 1 3 . S p down close to 1 . Lets get a quick check of Johnson Johnson are beginning phase three trials of a one shot vaccine. That stock on a down day up 1 . Johnson johnson at 145. A new poll shows only 13 of people would take a Coronavirus Vaccine immediately. 23 say they wont take a vaccine at all. That could mean that the vaccine will not be the Silver Bullet the economy is hoping for. We shall see. Friday feedback. Email us, go to our twitter, facebook pages. We want your questions, comments, yes, even your videos. You may be featured on our friday feedback segment. Were out much time. David asman in for neil cavuto. David can i put in a video . Ashley yes. David im david asman, and this is coast to coast. Im in for neil cavuto today. Despite struggles from the pandemic, restaurants are still making deals. Fat brands ceo joins me to talk about his acquisition of Johnny Rockets and a lot more. Big news from tesla