Transcripts For FBC After The Bell 20240712

Ashley, kick it off with you. Ashley why not, million listsa welcome back, connell. Hopes for a new come from mize stimulus bill and decent Economic Data has to be said helped push major markets higher in the session. We lost some steam in the final hour. What about the final minutes . More money came back in even though we know Congress Continues to wrangle over the relief bill. The dow, s p, nasdaq finishing the day as you can see on the upside. The dow up 328 points. S p up nearly 1 . The nasdaq gaining 3 4 of a percent right at the closing bell. Not bad. By the way we should mention apple, almost, i say almost reclaimed it is two trillion dollar market value gaining more than well, 1 1 2 in the end, about a buck 1 2 short of that landmark level. We should point out apple is up 27 for the Third Quarter. Not too shabby. As for the month of september, a historically weak month we know that for stocks. That kind of proved to be the case with all the Major Exchange losing ground. The dow as you can see, this is, wow, there you go, this is the last Third Quarter. This isnt the last month. There you go. Like magic, right the dow off 2. 25 . Nasdaq off three. Nasdaq off 5 this month of september. If we pull back even further the numbers look better for Third Quarter overall. The dow gaining close to 8 for the last 3 1 2 months. Look at the techheavy nasdaq up nearly 10 . I do need to mention this as for that encouraging Economic Data we found out Companies Added jobs at a faster pace than expected this month with a definite surge in manufacturing jobs, private sector jobs show growth, 749,000. Much better than the estimate of 656,000. We wait for the big september jobs report due out on friday where the expectations are for 850,000 jobs created this month. I guess we shall see. Melissa, back to you. Melissa indeed. Well all tune in. Ashley, thank you for that. Connell. Neil melissa this requested of finding Common Ground Senate Majority leader Mitch Mcconnell saying that republicans and democrats are still very far apart on a covid relief package despite the talks that have been happening today. Following those talks for us Edward Lawrence joins you now. Reporter last minute push by treasury secretary Steve Mnuchin still no agreement yet. He met with House Speaker nancy pelosi for 90 minutes. Then he met with Senate Majority leader Mitch Mcconnell. Mnuchin believes he can get one more serious push to get it done. He sees a reasonable compromise in all of this. Democrats are behind their 2. 2 trillion scaled back heroes act. Senate Majority Leader Mitch Mcconnell says that bill is a nonstarter. What we see from the speaker is another massive measure that includes such things as health care for illegal immigrants, tax cuts for rich people in new york and california and other things that are totally unrelated to the coronavirus. Reporter he says they are very, very far apart. Republicans will not vote for another 2. 2 trillion worth of spending. Now mnuchin says there was progress today. They move forward. He says there is work done related to this. Within the last hour House Speaker nancy pelosi sent us a statement here. In that statement she says she will bo forward with the house bill, 2. 2 trillion adding that secretary mnuchin and i had an extensive conversation. We found areas where we are seeking further clarification. Our conversations will continue. Now one of those areas could be the limited Liability Protections republicans must have. There are also areas where both sides awe agree. One of them, helping the airline industry. It appears though layoffs of some 37,000 people will go forward tomorrow because there is no deal coming tonight. Now mnuchin says its all about the scope and size of the bill. He does believe he can find a muddle ground here. Its a matter of when. Back to you, connell. Neil thank you, Edward Lawrence falling all of that in d. C. Also the debate debrief with President Trump and former Vice President joe biden going at it last night. The first president ial debate. Blake burman debriefing. He is live at the white house with fallout. There is plenty of it. Reporter if you call whatever we saw and watched connell. Commission on president ial debates came out and said they are going to be making changes going forward. The cpd, a Nonpartisan Group put out the following statement today, it reads last nights debate made cheer additional structure should be added to the format of the remaining debates to insure a more orderly discussion ever the issues. Campaigning in ohio today joe biden blamed the president. I kind of thought at one point. Neil maybe i shouldnt say this but the president of the United States conducted himself the way he did, i think it was just a national embarassment. Reporter the Trump Campaign this afternoon reacted to the cpd by saying in a statement quote, they were only doing this because their guy got pummeled last night. The president said he thinks the debate went great. He has gotten tremendous reviews. He has faced backlash telling a Extremist Group to stand back and stand by. During a discussion when the president was asked to denounce white supremacistists, this afternoon the president was pressed about those comments. I dont know who the proud boys are, you have to give me a definition. They have to stand down. Let Law Enforcement do their would work. I always denounced any form, any form, any form of this you have to denounce. But joe biden has to Say Something about antifa. It is not a philosophy. Reporter President Trump now enroute to minnesota. He will have a fund razer in in the minneapolis this afternoon and a rally tonight in duluth. Connell. Neil a little over a month ago. Blake burman thank you. Melissa. Melissa so chaos reining at last nights debate. Health care much lower price. He doesnt know how to do that. I want to go on to another subject. I want, gentlemen, i want to move on to another subject. States not doing well. I have to respond to that. Are you in favor of law and order . Say that. Asked him a question, let him finish. Law and order. Law and other. Melissa sorry to do that to the audience i think by that point you had sort of changed the channel gone to bed. It was impossible to understand. Here to discuss all of it is charles hurt, Washington Times opinion editor. He is also a fox news contributor. He was author of one the best jokes last night when you told me who the debate was sponsored by. Who was that again . So you know, this being 2020 we decided to mix things up and the commission on unpresident ial debates put it together but it was brought to you by, interrupting cow. Melissa interrupting cow who . Moo. Melissa doesnt work with delay. We should have worked, realized that. Moo. Moo. Moo. Melissa that is the opposite we were talking, people could hear what were saying. Point is wellmade. Exactly. Maybe that is the way we should have done the debate. Should have done it on delay, there was at least two or three seconds between each one of them. They would have just been going, moo, moo, moo. But the great part of it was it was really interactive. I watched it with one of my kids. My other kids were elsewhere. They were with their friend. They were all watching it. So i had this whole Text Exchange going on entire time. They thought it was hilarious. Of course my daughter thought it was especially funny. She thought it was her two Little Brothers fighting each other the entire time. She dug it. Like political does course for children. It was perfect in that way. Melissa yeah. For children. My serious analysis was sort of no one gained anything. It seemed like the audience didnt gain any knowledge. Neither of the candidates gained any backing. It was sort of like a, i wouldnt on a say you know, some were asking who won . No one won obviously. I this no one gained anything. Where does it put us now . I think youre exactly right. I dont think anybody particularly gained anything. Joe biden was joe biden. He spent the first half the debate blaming trump for thought shutting down the economy. The second half of the debate promising to shut the economy down if he gets elected. That is ats about a wash. But i also think that President Trump failed to make, he needs to win, he has got all of the people that already support him. He has got to make the case to people that are either on the bubble or not decided which you do not really think anybody is not decided at this point but on the economy, on law and order, and then make his case on covid. He has a great case to make on covid. He has done a great job. He could have done that so much better but you kind of have to, you kind of have to let some oxygen into the room and you got to let actual debate go back and forth to make that case. And there is nobody better on the planet than donald trump when it comes to making his case. There is still plenty of time to do it. I hope he looks, i hope the first lady looks at the debate last night, sits down with him, this is where you were fine and this is where you failed to make your argument. And this is where you need to work on it because, because i know he willlousen to her. I know she understands exactly where he probably could have done better last night. Melissa so everybody kind of wants to see where does this put us going forwards specially if youre in the market, youre trying to figure out who is going to win. Because that has a huge impact on which way the market goes and has a huge impact what will happen with the economy. If youre a Small Business owner you want to know who will be in charge. Will you get punished with higher taxes, more regulation, or will you have environment where the government is helping you. One of the theories as you look at last newt does it make a lot of people tune out and not vote . One of the popular theories that is making rounds today is the idea that maybe it was a strategy on team trumps part to so overwhelm the whole thunk that people who were maybe the four or five people who were undecided on the plan the kind of check out now because they watched that and disgusted what happened. What everybody said and you know what . Im just not going to be a part of this. What do you think about that theory . My experience with politics is that the triple bank shot usually is never the real thing was being attempted. I think honestly President Trump was attempting to sort of rattle joe biden and he actually, i think he did rattle joe biden. Joe biden was definitely sort of offkey but again i keep going back to the same argument. Trump has a much better argument. He can one on issues. He won on issues in 2016. He can win on issues this time. He can have a substantive debate with joe biden because joe biden has been at it for 50 years and he has been wrong about everything for 50 years. Donald trump has been at it for four years and been right about everything for four years. So that is where you need, that is where needs to stay. Melissa yeah. So where do we go from here . I hope that Trump Supporters and i hope President Trump, people around him i hope everybody is kind of scared right now. I hope they really buckle down, going forward, stay disciplined. Stay on their message. You can win on the issues. You can win on the issues. Joe biden and kamala harris, they lose on the issues. Just like Hillary Clinton lost on the issues. People also didnt like her which was an added problem for her that joe biden doesnt, he doesnt have that draw back this time. But still, stick to the issues. You can beat him on the issues. Melissa okay. Okay. Yeah, he rattled joe biden and rattle all the rest of us too. Moo. Moo. Melissa thank you for that. Charlie hurt. Melissa moo, moo, im still rattled. Oh, boy, that, youre right, with the do lay, delay its tough. The push to hold china accountable is what were going to talk about next. Didnt come up much last night. A new report out today that outline as series of bipartisan actions that u. S. Can tackle chinas malign foreign policy. New york restaurants reaching a major milestone despite new upticks in coronavirus cases. Dont go away. Well be right back. 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. And if we win, we get to tell you and doug. How Liberty Mutual customizes Car Insurance so you only pay for what you need. Isnt that what you just did . Service stand back, im gonna show ya how doug and limu roll, ya you know you got to live it if you wanna wi. [ music stops ] time out only pay for what you need. Liberty. Liberty. Liberty. Liberty. Neil we have fox business alert. The Federal Reserve extends restrictions on bank buybackses in the Fourth Quarter. Edward lawrence back with us on details on breaking story. Reporter they want to make sure banks are restricted in certain things to have enough cash flow. We want to restrict banks to have share repurchases. They will be prohibited from doing that through the Fourth Quarter. Also a cap on dividends of the big banks can give out based on a formula of recent income. Big banks are talking about banks with assets more than 100 billion. The reason the Federal Reserve is doing this, they want to have enough capital on hand for those banks, should the pandemic, uncertainty of Pandemic Take hold on the economy. Im seeing fed looking forward, hey, fiscal stimulus may not be coming down the road anytime soon. They want to make sure banks are capitalized should you have uncertainty with the pandemic an possibly no stimulus. Banks might need capital in the Fourth Quarter if everything turns south. This is a precaution theyre taking. They took it into the Third Quarter. Now theyre taking it in the Fourth Quarter on big banks. Connell thank you, Edward Lawrence. Always on top of the fed. Melissa . Melissa campaign trail meets train tracks. Democratic nominee joe biden kicking off his train tour from cleveland, ohio, today to meet with voters about his plan to create jobs and boost the economy. Lets go to Hillary Vaughn in pittsburgh, pennsylvania, with the latest. Hillary. Reporter melissa, the Biden Campaign thinks their candidate won the debate because the President Trump lost his temper. Things got heated on their side of the debate side, when the biden told the sitting president of the United States to shut up. I talked with biden supporters here in pittsburgh, pennsylvania a few minutes ago. They were here to attend the third stop of bidens train tour. I asked them what they thought about that exchange when biden told the president that, and a few of them were actually disappointed. Of course it didnt make a difference in their support, who theyre voting for, one supporter told me they found it disturbing, it was in poor taste. While that is moving along. Biden is moving along. The train tour, he wrapped up his third stop. He is on to the fourth. At the last stop biden made a new argument for why he thinks the senate should not take up trumps nomination to the Supreme Court of judge Amy Coney Barrett saying that he thinks the senate should prioritize relief for working people and Small Businesses, not an open seat on the high court. They have time at the very end of this election to hold a hearing on the Supreme Court justice but the senate does not have time, does not have time to deal with making sure schools and businesses have ppe they need to protective gear, does not have the sanitary conditions available for them and the money to pay for them, to open up . That does not have the capacity and so an. It is kind of amazing, isnt it . Reporter biden says taking the amtrak train his favorite mode of transportation. That is not surprising, that is how he commuted to work from wilmington washington, every day, almost every day while he served decade in the senate. Melissa. Melissa yeah i think i have heard that story before. Hillary vaughn, thank you. Now listen to this. Got to prepare both those guys. That is not the argument you made earlier. You were talking about hunter biden earlier. Talking about the draft dodging. Did his son draft dodging. Dont be hypocritical like trump. Im not being hypocritical. Draft dodging, you want to use one issue that has nothing to do with joe biden. Dont compare another issue. Going on airplane with your father to receive 3 1 2 Million Dollar check you are in the same, he is traveling on air force two with his father. Taxpayers paid for his airplane flight. And taxpayers paid for Donald Trumps golf outings. Connell debate watch party, that we put together last night in ohio. Look at me looking at my phone earlier in that debate between the two guys, trump supporter and biden supporter. It was somewhat interesting. What i will say, is that people there on both sides of the aisle, put together biden supporter, trump supporter, a third man who was going third party, they all seemed to leave somewhat unsatisfied after the night was over as they watched president ial contenders go head toe head. Talk about it with lanhee chen, hoover institute, research fellow, former president ial Campaign Advisor back in the day to mitt romney and marco rubio. Lanhee, always good to see you. I know it is not necessarily meant for our entertainment buff one of the things it stuck out to me, not sure what it means, if it matters, four of us sitting there, watching debate together, commenting on it, everybody was really looking forward to it at beginning of night, at the end of the night even you hadnt done anything, you were exhausted, didnt feel good, now what, i will ask you that question, now what . You know, i last night was kind of like a black eye for american democracy. Really was one of those things where you saw the two of these people going back and forth. I dont think americans learned a whole lot. You know i have heard all day today from people who were saying really, is this choice were left with. Trump and biden in the next debate, if they have a next debate think how i can make the case to the American People what i want to do the last four years . I heard that a lot. They were bickering. They were fighting. I dont know if i have a better sense what they would actually do as president the next four years. I think both have the responsibility now and the opportunity quite frankly to pick up support if theyre able to do that. I think the president s got a second term agenda. He laid it out. He talked about various things. He needs to put that together to really talk about it in the next debate and biden should do the same. Connell there seemed to be a line of thought going into this debate there was pressure on Vice President biden to do just that, lay out his plan and also to prove he could go toetotoe with the president , he was up to it all of that. I wonder after last night if the pressure shifts . All of the data we have shows the president is trailing and after that performance last night, now we go into a different type, by the way of format in miami. It will be town hall. There will be more pressure even though he is the incumbent, down in the polls, how does he handle that . What should the strategy be . The town hall debate is a very different dynamic. They will have people seated there. Hard to engage in the back and forth with shen shenanigans. I hope it will be more civil. Prepping for that format is tough. You have to figure out how you stand, mannerisms to connect with people. If you believe the polls, if you believe the president is down in some of these key states he does need to change the dynamic. The next debate and opportunity and pressure do shift in the president to figure out how to articulate his plan. What he wants to get undecided voters. The town hall is more intimate, with two people standing at distance, more easy to get into it. Not as much personality as well see october 15th. Connell spent a decent amount of time in voters in some of these states. We were in michigan before we were in ohio and some other states last month, into wisconsin a number of times, pennsylvania. I always say that it seems like the election will be decided at the end by voters who dont necessarily like the president on a personal level. Maybe they voted for him last time around but theyre not in love with him. How does he get those voters, those that matter in those states, they dont necessarily love the guy but they were and they have shown, they did it four years ago, willing to society for him and how does he real them back in. The case might be, you may not like what i say all the time, you might not like my style, you might wish im a nicer guy, fundamentally im the person to get things done. Im the person to get things son on the economy. Having a plan on coronavirus shutdowns. Tax relief for middle class. Talking about cutting red tape to boost Small Business and entrepeneurship. That has to be the focus going forward, to say, i get the style. You dont like the tweeting. That is not going to change but if you want someone who will get something done, by the way who wont take the country in different liberal progressive direction im the person to do it. So focusing on the economy. Even focusing on the Supreme Court. Look, these are things i got to do to make sure we have balance in our system. Those end up being positive for the president. That is how he has got to make the case. Connell one moment talking to the biden supporter in the group, he thought the president had a fairly strong point, right at the beginning of the debate when he was making his argument why he should appoint the next Supreme Court justice. Lan see, good to see you always. Lanhee chen. Good to talk to you. Melissa. Back over to you. Melissa good points. Great insight for him. The first major disruption to the nfl. The league is postponing sundays game between the Tennessee Titans and Pittsburgh Steelers a day after the titans halted inperson Club Activities following a team outbreak. The nfl is considering all options to reschedule that game. We will see. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. 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. 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Entire resorts and vineyards were leveled in the glass fire in california famed napa and sonoma valley. The michelin resort is now burned. It is 2 contained. One napa professor, vineyard expert told us every owner with visible grapes stand to lose millions of dollars because of weeks of smoke here in the air in nap past here is one person describing what it was like to evacuate the area. Digesting all the situation. So, it basically for me and for my family to just to realize that we lost everything. Reporter heavy, thick, smoke and ash is still in the air here, melissa. Melissa unbelievable. Matt, thank you for that. Connell, wow . Connell wow that is really something to look at. Meantime, a warning that the u. S. Must act decisively. A number of House Republicans have released a series of actions they say the u. S. Must take to address the threat from china and we have one of the republicans making those suggestions, congressman Darren Lahood joining us live next. Plus Indoor Dining finally making its longawaited return to new york city today but will it be enough to keep some of these struggling restaurants afloat . Cell phone repair. Did you know Liberty Mutual customizes your Car Insurance so you only pay for what you need . Just get a quote at libertymutual. Com. Really . Ill check that out. Oh yeah. I think i might get a quote. Not again aah, come on rice. Do your thing. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Connell the past 40 years of u. S. China policy has, quote, failed and beijing emerged as a generational threat. Those are among the statements made in a new report from the house Gop China Task force. Were joined by republican congressman Darren Lahood, from the state of illinois as a member of that task force. Republicans only. Democrats as i understood it chose not to participate in the task force. Congressman, you put out a number of suggestions. I read them earlier today. It is 180 legislative suggestions. A number were agreed upon a bipartisan basis. Let me ask you the bullet point version of it. We had so many discussions with others about china, does this, do these suggestions go further than President Trump has gone either in rhetoric or action . Are they right in line . How do you subscribe them . They coincide with President Trumps agenda. The report today is premised we cant afford to ignore the danger of china any longer. It is substantive, it is meritbased, it is largest report issued by the house of representatives. We look at National Security threats, the threat threats there, trade, 5g, technology. Really its a road map, connell that looks at, you know the next five to 10 years. So its a longterm plan that we can look at. I would say we have 400 recommendations in here on all those different areas that i mentioned but this is something that should be bipartisan or nonpartisan. Many things President Trump has done are part of this. Other things we work on in the congress, that will improve americas competitiveness. As we know with china, it is complicated, it is nuanced. But they continue to be existential threat economically and from a National Security standpoint. Connell huge topic, National Security policy, economic policy, huge top i can pour us over the years, not a huge topic yesterday. This sound bite may be the only with. He has done very little. His trade deals are the same way. China perfected the art of the steal. We have higher deficit with china now than we did before. China ate your lunch. Joe. Your son goes into, he takes out, takes out billions of dollars. Taking out billions of dollars to manage. Connell here is one of the question, get away from that last part, businesses are something is, would there be a big change in the approach to china where Vice President biden to win . If so, what do you think that change would be . What is on the line in other words in this election . Well listen i give President Trump a lot of credit. The phase one deal has been a success. Im not necessarily a big fan of tariffs but President Trump used tariffs with china to get them to come to the table. Youve seen the results from the phase one deal. Remember china is on the hook to buy 200 billion of products from the United States over the next six to 10 months. That is a lot of corn and soybeans from my district. About 60 billion worth of ag products, manufactured products, phase one deal would not have gotten done without President Trump. No administration over the last 15 years has been able to put together a deal like that. We look ad phase two, which comes after phase one. That is something President Trump laid out. I think it has been a success. Connell what would you say from the perspective you guys putting out your recommendations the ceo of a company that has business in china, u. S. Company doing business there . Should it be listen, diversify, get out of china and not put all our eggs in one basket, lets get out of china completely, it will be clear sailing what would you say to that type of ceo about the future of u. S. Relations and how it is going to relate to businesses . Yeah i think we have to look at things differently in a lot of particular sectors, particularly the technology sector, medical sector. Look at this, in cove trade we relied way too much on the chinese for ppe, for pharmaceutical drugs, generic drugs. We have talk about how you bring supply chains back to the United States . We looked at decoupling, buy america provisions. Clearly we have to incentivize companies to come back to the United States. So in the report we look attacks incentives, look attacks credits, to make america more competitive. We clearly cant rely on the chinese to produce everything particularly in these vulnerable areas. That is one of the biggest areas of this report. I would, ask that the Business Community and the chamber of commerce and ceos to read the report. It has got great recommendations in there. Connell all right. That is a big thing a lot of people are thinking about especially with the election coming up soon on the business side. Congressman Darren Lahood. Thank you. Recommendations for how to deal with china. Melissa. Melissa sending in the National Guard to take out the trash . Democrat new York Governor Andrew Cuomo suggesting he could send members of state National Guard to new york city to take care of the garbage piling up in manhattan, saying in a press briefing he didnt know quote, what was going on in new york city. You know what . Neither do we . No include. Turns out, its you. Doing your thing. Dreaming dreams. Building new worlds. Its why we built our workspace technology. To help you do your best work and to see what you can become. Youre made for bigger things. Connell were back with some mailin ballot challenges. There are reports of some new york city voters receiving absentee ballots with wrong name and address on return envelopes. Eric shawn look into this joins us with store from new york, eric. Reporter President Trump calls it a big mess, it is a mistake. He says it is unmistakable but the new york city board of elections is trying to fix it they claim. They sent out nearly 100,000 mailin ballots with a big mistake. Most went to voters in brooklyn. When people opened up absentee ballot, it had the name on it, the envelope they put their vote in, that had the name of other people. The foul up resulted in voters receiving ballots with someone elses name and address printed on return envelope. That is the socalled secrecy envelope they mail back with the board inside it. Yeah the voter had ballot with his correct name and address, the envelope inside that was for somebody else. New york mayor bill de blasio says this agency has to be fixed. What we have now is not working and the state has not acted to change that and that is why we have the problem year after year. It is the states responsibility to fix the board of elections, period. Reporter but the board of elections says it was printing problem, vnx graphics. The company with the printer. They have apologized say inserting mechanical error. They promised to send out new corrected ballots so folks finally get ones intended for them in the first place. Connell . Connell oh, man, thank you, eric shawn. Melissa. Melissa sent away for mind months ago. Still havent got init. Imagine relaxing in a Mountain Resort right from your couch or with friends in. This company stages who graphic meetings of all kind, allow users to attend as 3d after avatars. Here is jacob lowenstein. We did this. Other whole group thought it was incredibly fun. It was more realistic. We were making fun before we did it. We were blown away how realistic it was. Hopefully we show you video. There is stuff that is fun, driving a cyber truck and also stuff that is real where our group was sharing a notebook and thought that it seemed very real. Why is that a benefit if youre trying to have a meeting and use this for business purposes . Why is it important rather than being on zoom to actually be together and share a notebook . Its a great question. So i think a lot of this reflecting on our own experiences using zoom during covid, right . In beginning it all feels fine. Eventually people feel very burnt out. Theyre starting to feel isolated. After you do the same zoom call over and over again, people realize this is not substitute for building a real substantive relationships with their fellow coworkers and there is something really funny about our sort of lizard brains we all have, unless we feel a real sense of presence with other people, right, unless we feel we can almost touch them and shake their hand our brain doesnt form a sense of kinship and deep connection with people. Without the sense of kinship and deep connection we dont build trust, it is harder to communicate. It is harder to work together. That sense of realism unlocks that connection that is essential for people working together. Melissa so many people said that that what weve proven during the lockdown is that zoom meetings dont work. That people are really sick of sitting there and idea of just looking at some one else, rather than being on a call doesnt do the trick. Whether your eyes are getting tired, you get a headache, or that you just dont feel an actual connection, people are really burned out on it. So what youre offering is really interesting. The question i have for you though, what if we call go back to the office . What happens to your business . Totally. Well the good news is that we built spatial before covid and mad a robust Enterprise Business before all this craziness started. Our initial focus was distributed work which had been increasing before the pandemic. People had teams divided across offices all over the world. People on those teams were having a hard time working together. Even if we went back to like 100 normal, covid never happened we would still have an appealing business. Now the other side of it is that our view we dont think were going back to exactly the way things were before, right . Because the world has just gone through this giant work from home experiment and while we found flaws in it there are some benefits to it as well. So i suspect well net out when things return to normal, well find ourselves somewhere in between working from offices all the time but also providing a great deal more flexibility around working from home or other locations. And because both of those things add up to just a lot more distributed work, we expect our business to continue growing significantly as people are working more and more across more locations. Melissa how much does it cost . Office obviously has to invest in it, what makes your different quickly than a lot of people are doing, microsoft has, for example, a similar product . What makes your better . Superfast. Great news it is free anyone can started for free. Upgrade 20 bucks per month or enterprise fee to get more support things like that. In terms of what makes us very special it makes us straightforward. You create a life like avatar from a selfie. You are sitting across from the real version of that person or up to 30 people around the world. No one comes anywhere close to that sense of realism. If you dont want a cartoon avatar, dont want it to feel like a game, and feel like youre having a great productive meeting youre having a deep connection with, spatial is by far the best option. Melissa we didnt do it justice in the video. It is hard to replicate that what makes your product so good. I think our folks really feel that difference after we were doubters to begin with to be honest. Jacob, thank you. Connell . Connell all right. Pretty cool. Meantime fine almost afinally moving back inside in new york city. Well check in on the restaurants to see how theyre handling it. I havent had any door dining in six months. Finally howed to do a little bit of it. Well be right back 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 seaonly abreva cany to help sget rid of it in. As little as 2 1 2 days when used at the first sign. Abreva starts to work immediately to block the virus and protect healthy cells. Abreva acts on it. So you can too. Connell all right. Getting back to business. New York City Restaurants returning to Indoor Dining, just at 25 capacity, but it is back today. And Kristina Partsinevelos is live if manhattan with a look at how things are going. Reporter yeah. You have the first time in six months cities like new york and San Francisco are finally allowed to reopen their Indoor Dining sections. Unfortunately, its only at a 25 capacity, and here in new york you have some Business Owners that are a little concerned because there is an uptick in covid cases, so theres the threat of potentially a second lockdown, and that would be a death blow to the establishments which is why we came here to this Upper East Side fine dining restaurant. Theyre renaming themselves. Why . Temporarily theyre reinventing the restaurant model. Theyre collaborating with a lot of brands, getting brand sponsorship from Companies Like evian water, and thats helped them build this giant space here so that you dont notice subtle differences like the fact that its at 25 capacity, the tables are separated so there are trees to not make you feel like youre so far apart. And i spoke to chef and owner of this restaurant, he owns at least 12 others around the country, and i should say, around the globe, and he talked about being in survival mode. Little by little, we have end opened restaurants, bring more staff. But economically, its a disaster, and its not only a disaster for me, its a disaster for any Small Businesses. Reporter we knows it is tough because Indoor Dining has dropped 47 compared to last year at this time. So it is tough, and the priority is safety, so theres no second try, connell. Back to you. Connell well, thats the thing. Its just so tough on the margins to make money at 25 , even in a restaurant like that which, by the way, i would not recommend expensing your dinner, because that might be a little even for our budget a little bit above where we want to go. Anyway, thanks for joining us, everybody. Well all take a deep breath after last nights debate, thats what melissa and i have been doing, trying to calm down. Were going to move forward from here. [laughter] melissa yeah. Thats about it. Connell see you back here tomorrow with another edition of the after the bell. It is lou dobbs tonight that starts right now. Have a great night. Lou good evening, everybody. President trump to arrive this hour in minneapolis. Its his second visit to minnesota in the past two weeks. His visit underlining the states significance as a battleground state in this november election. President trump scheduled to attend a fundraiser this evening in a minneapolis suburb before he heads to duluth for aally later tonight. Rally later tonight. Hes sure to be full of vim and vigor after last nights debate against joe biden. President trump, obviously, pleased with the ratings. They are the highest