Transcripts For FBC Mornings With Maria Bartiromo 20240712

High level talks end with bipartisan deal. Office of trade and manufacturing policy, Peter Navarro joining me at 8 00 a. M. Hour live coming up. It is jobs friday. Economists are predicting 850,000 jobs added to the economy in month of september. Unemployment rate to tick down to 8. 2 . Special long coverage begins this morning, all hands on deck at 8 00 a. M. Eastern. Markets reacting to the President Trumps coronavirus test. They are negative. Dow futures down 440 points. S p down 57 as the markets react to the president s diagnosis. This after choppy first session of the Fourth Quarter and ended in positive territory. Dow industrials up 35 points, nasdaq up 159 and s p higher by 17 at oclock on wall street. Mornings with maria is live right now. Take a look. European indices down, dax index lower by 139. Korea, hong kong all closed for holidays but nikkei average in japan open was down twothirds of 1 , breaking news overnight President Trump and First Lady Melania Trump have tested positive for covid19. The president confirmed the news in a tweet overnight writing this. Tonight flotus and i tested positive for covid19. We will begin quash teen process immediately. We will get through this together. The first lady also tweeted out, she wrote this in part, we are feeling good and i have postpone ed all engagements and we will get through this together writes the first lady. The president and first lady are doing well and will remain at the white house while they recover. The positive tests after top advisers hope hicks tested positive and she was with him in minnesota on wednesday. Secretary mike into in croatia he and his wife have tested negative for the virus. White house chief of staff meadows tested negative for the virus. Hours before testing positive President Trump discussed the possible changes for the next president ial debate in exclusive interview on fox news, among the ideas floated a mute button to keep candidates from interrupting one another. This is the rules that were agreed to. I think it would be very bad. I think with Hillary Clinton they had modulated and when i looked at her, they. Dealing with tricky people here. I like the format but at the same time hes got to hes got to be truthful. Maria joe biden also weighing in on those debate proposals. Take a listen. Would you be open for organization that they might need mics in between you all speaking, is that something that we would support . As long as we have an opportunity to respond to the people in the audience. Maria sources tell fox news that joe biden debate negotiators specifically requested the mute button. The democratic nominee heads to michigan later today. The house passing 2. 2 trillion Coronavirus Relief bill yesterday with no support from republicans, House Speaker nancy pelosi said negotiations with treasury secretary mnuchin. Majority leader Mitch Mcconnell said he would not support any legislation thats valued over 2 trillion. With just over a month before election day, 32 now, new data from election project reveals more than 2 Million People across the country have voted, 6 states released Voter Registration data rather 54. 5 gather ballots come from registered democrats with over 21 coming from republicans. In 15 states the number of ballots requested has exceeded the total number of votes cast in 2016. And with mailin voting underway in several states the Trump Campaign launched a lawsuit against the city of philadelphia last night over its refusal to allow Campaign Officials to observe voting offices set up across the city to help citizens register to vote or fill out ballots, the city is saying theres no legal basis for Campaign Officials to oversee the election process on election day. You cant make the stuff you up. Officials in South Carolina officials asking Supreme Court to step down after District Court struck down that all absentee ballots be signed by a witness. Markets reacting to President Trump and first lady melania testing positive for covid19. Futures are selling off, decline of 436 points, nasdaq down 259, s p 500 lower by 56. Yesterday the dow turned positive the final minutes of trading, s p and the nasdaq ended the day in the green as well for second day in a row following strong Economic Data, dow industrials finishing 35 and nasdaq 159 and s p 500 up 17, joining me right now michael lee strategist founder, michael lee. Joining the conversation this morning is fox business Dagen Mcdowell and michael, great to have you, lets talk stocks for a second because the market is clearly reacting to the news and i always say the message of the market is are you concerned with the president s diagnoses and what do you think the next month looks like . Micheal you know, it matters how long it takes the president how long to recover and not if he will. Recovery rates are in 90 percentile. We will see how this plays off. The selloff goes to show that the president markets like the president more so than his competitor. Pmi manufacturing came out this weekend and the ism with a couple of the sub categories and new orders of production well over 80. Great for manufacturing front. Consumption is already up year over year with retail sales in alltime new high. We are in pretty good shape continuing claims for unemployment which is what i follow the closest, the most accurate data. Withdraw from 25 million and continuing claims down to 11. 8, so we need to get the number below 2 million to get to prepandemic level. We have a pretty good jobs number. If the market gets below 3300 you will see selling from whats going on in the market. This was definitely a headline i was not expecting this morning when i spoke up. I dont know about you, guys . Maria yeah, of course, theres the stimulus deal, the house passing 2. 2 trillion coronavirus stimulus plan last night, after highlevel talks ended with bipartisan deal. Dagen mcdowell, you have the president and the first lady now testing positive for covid. You have a house bill that passed but, of course, markets are reacting to this diagnosis, the president says hes going to be working through this and we will get through this together. Dagen theres just so many unknowns and that is the inclination of any investor is to sell when you dont know what the next few weeks or even months look like and thats just a fact. Theres so many questions that cannot be answered that nobody should be weighing in about the president s health or anything of that nature. One of the problems is, mike, is that you still have close to 12 Million People collecting Unemployment Benefits and youve had a long list of Companies Just this week come out and announce that theyre going to be laying people off with no stimulus deal from congress and united and american, 32,000 jobs will be cut, all state, 3800 people layed off, shell 9,000, disney is laying off 28,000 jobs, so the jobs picture is going in the wrong direction and you have a lot of businesses that they dont have a lifeline that last through the end of the year in terms of cash because their numbers particularly here in new york city are 60, 70 below where they were a year ago, so we are in this kind of vice grip, if you will, in terms of jobs and in terms of business in the nation. Micheal look, a lot of the shutdowns that still exist are purely political. A third of people filing for unemployment are in california and new york. I believe the states will open up dramatically come november 4th. Dagen you cant make the argument now that the president and fist lady has been diagnosed with covid. Isnt that the case . Micheal i say that we need to get on with the lives and first time in Human History that quarantine the healthy and survival rates in 90 percentile and people would rather take chances than starve and rebuild their life from zero after losing their businesses. I think you can do this safely and securely. I dont know that the virus will go away but the momentum is clearly behind the u. S. Economy. We are in the midst of dramatic economy and never straightlined or perfect, but we are well on ouria and to, you know, to take us off our track its going to take more positive tests even than the president. Maria i agree, michael on your analysis, the market will not be in terms of strength and closeness to record highs if investors did not believe that the president would get a second term and the policies stay in place for a second term. Todays reaction is clearly because the president has been diagnosed with covid19. The september jobs report is out this morning, 8 30 a. M. Eastern. Michael, we are looking at economists predicting 850,000 jobs added to the economy last month. This may very well be a marketmover, do you think this moves markets, real quick, we have to jump . Micheal i think we will get good news based on the adp number and the continuing claims tonight to head. Maria michael lee, thank you so much. We are on all angles this morning. We will be right back. Keeping your oysters 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 claim your seventyfivedollar credit when you post your first job at indeed. Com promo maria welcome back, breaking news overnight. President trump and First Lady Melania Trump testing positive for the coronavirus. The first couple confirmed that they will be quarantining under further until further notice. Fox Griff Jenkins now with more, griff. Griff hi, maria, the news certainly rocking washington, but sending shock waves around the world, Global Leaders weighing in sending their well wishes and prayers and, remember, all this started for our viewers just waking up in learning this news, it started when the president confirmed shortly before 1 00 a. M. In a tweet saying that he and the first lady teses pd ey aththow quarantininntg,ining, trsrs lrsyadad also alsols outut me newmes n aewnd hopingopin tgt tionna itison syingyi safe safea ying thatt we we wil wet g roug th ther. Heearnedea,rnearn mromro the t itwhouseou dr. Sean Sean Connolly aolndly and theyy are asymptomatic and e andec esid cry cg c out duty withoutitho disruption while recovering. The news cameus hours afterer the lothnge tthe eth trusted ae hickckstedositive. Shs with the president most recently on wednesday in rally in minnesota and also with the president on tuesday with the debate and the prior saturday at a rally in pennsylvania. So its really turned all eyes on all the people within the president s circle and another person close to the president , secretary mike pompeo traveling aboard his plane flying from rome to croatia said that he and his wife have tested negative and also white house chief of staff mark meadows has tested negative. We are learning a lot of detail as we wake up to the news that its going to change perhaps not only how the president will conduct business as the leader to have free world but also implications for what will happen on the campaign trail with only 32 days to go till november third, maria. Maria all right, griff, thank you very much, griff general with the very latest, we will get back to you if any other news comes up. Editor at large matt welch, thank you very much for weighing in here, your reaction to the president and first lady testing positive. What do you think this does to the campaign and upcoming election now 32 days away . The most obvious thing that it does its the last of the debates we will see. Its hard to imagine under any circumstances there being more president ial debates tat very least. There already dicey because the Debate Commission was in the process of changing its rules and the president wasnt too thrilled about that. The most remarkable thing, i think, about the election is how impervious it has been to news of any sort. Think of how many socalled bombshell news stories have come out over the past 6 months, 6 hours probably and it just hasnt registered a blip in the polls in order did the debate, nor did the debate registered a blip. 95 of the country to the extent they think about this made up their minds a long time ago. Its hard to see how the news changes that dynamic and the race, so as, you know, wild and disorienting as it seems as the president of the United States and first lady tested positive. It might not have that big of an impact in the race in order they knock on wood, do not get sick. Maria democrats passed scaleddown coronavirus bill. Its not going to pass the republicanled senate. Its way high than the senate wanted. Speaker pelosi said that while no agreement has been reached, no talks with the treasury secretary are planned, whats your reaction to this, is this a factor at all in the scheme of things right now . I mean, the scale down, its accurate term in terms of the way washington thinks about it, think about that for a second. 2. 2 trillion, scaled down, its amazing, one thing that washington likes to do, does well, spend our money or kids money in future. I think we might see some kind of Coronavirus Relief package going for precisely that reason. Those talks with secretary mnuchin are ongoing and they may yet produce something before the election. Its remarkable to me and actually the president the news about the president underscores this. The one thing that the federal government really should have been and congress should have been paying attention to the most since at least the end of february is how can we either get out of the way to allow more testing or spend money to create the process for more testing to happen fast because the more the people as soon as we have athome testing that we can do every day, then a whole lot of the negative impacts of coronavirus both on health and especially the economy start to be minimized a great deal and instead congress would rather talk about what are the size of the checks that it can write either to individual americans or to maria yeah, all right, matt, thank you so much. Matt welch joining us from reason, stay there. We will be right back. See yourself. Welcome back to the mirror. And know youre not alone. Because this is not just a mirror, its an unstoppable community. Come on jesse, one more its every workout. Come on you two, lets go for everyone. So join in now. And see your best self. In the mirror. Maria welcome back, breaking news overnight. President trump and First Lady Melania Trump have tested positive for the coronavirus. Markets are reacting to this news this morning and selling off. Dow futures are down better than 470 points. We are looking at 500point decline right out of the gate this morning as investors react to the president s diagnosis. The president tweeted overnight and he says that he is going to be getting through this, we will all get through this together and working through without any disruption, is what his doctor said, Dagen Mcdowell, your reaction to Market Reaction that we are seeing this morning . Maria this is a sell first and ask questions later. As i said earlier, theres just so many unknowns, well, everything in terms of not just the president s health and his recovery, you can have virtually no symptoms with this virus, number 1, number 2, what does it do to the campaign . Does it change how the voters feel about the president or Vice President joe biden . This is sell first and we will get answers later. That being said, you talk about go ahead, you talk about Vice President bidens plans, his economic plans, those plans would, if, in fact, crater the economic recovery. Thats just a fact and maybe hes running on getting rid of all of President Trumps tax cuts. He actually said that in the debate the other night. He pledged to eliminate President Trumps tax cuts. So tell me youre going to raise taxes on corporations that would take money away from them that they could then use to higher people back, add new jobs, give people raises. That just doesnt make any sense in the environment and this is part of what we are seeing in the reaction in the futures. Maria yeah, and that is the reason that people are not believing that thats going to take hold. I mean, up until now, we really havent seen a sustained selfoff because the marginally largely expecting the president to get a second term. If that werent the case, the market would be selling off significantly for a long period of time. Its clearly we are seeing a reaction to the president s diagnosis of covid. The diagnosis will prompt a 2week quarantine period. This, of course, is going to affect his campaigning in the next president ial debate, you just heard matt talking about that, but, dagen, that debate is kicking off in two weeks, the quarantine period is two weeks, i find it hard to believe that the president is going to be able to be on any set for the next debate at a minimum its going to be him doing a doom, i dont see any other way in terms of this debate season being completed. Dagen begs the question does that necessarily hurt him and does it hurt joe biden because joe biden to talk more about dug that debate earlier in dont trust this very month you could have data that could be submitted to the fda maybe from pfizer which is the furthest along, but this is where we are and people talk about the president s response to the covid virus, now that he has it, lets shine a light on all of the things that have been accomplished by private industry and science and how close we are to having that vaccine which middle of next year could be available to every american. Maria yeah, that was the really unfortunate part of the debate last week because tuesday night because there were so many successes this president can be talking about, whether its the warp speed of pharmaceutical Companies Getting together to drive vaccine, thats the president s warp project or middle east peace where the uae is having normalized relations with israel and bahrain and others to follow or whether its economic story where we have 3 unemployment, and wages on the bottom moving up and that was narrowing the income scale but because of the fighting back and forth and nipping at one another that took the president off of that commentary that really has been an incredibly successful presidency and dagen he definitely need today hit on the we are in this pandemic and you still have unemployment thats well north of 8 , almost 12 Million People collecting Unemployment Benefits just to this state level. How do you get out of it economically . You talked about this. I made notes, the wealth gap and income inequality charted shrinking and something that didnt happen with joe biden and president obama, middle income, Household Income was up, the most 7 . That is the most on record. The poverty record is 60year low. I can go on. The wealth was being spread across the country. Thats where we were before this virus hit. Maria absolutely. By the way, we will watch whether or not another debate, president ial debate takes place given the news but the Vice President ial debate is next week, thats wednesday night, the seventh with Kamala Harris and Vice President pence. We will take a break and we have more of this, we are watching this market react to the president s covid19 diagnosis, stock and market is down with 400point selloff on the dow. Stay with us. Eliquis is fdaapproved and has both. Whats next . Im on board. Dont stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. 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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. Maria welcome back, good friday morning, it is friday october 2nd, it is jobs friday. Markets this morning right now 6 33 a. M. On the east coast. We are in the red severely, down 414 points as investors react to the breaking news overnight. That is President Trump and first lady melania both testing positive for the coronavirus. This after a choppy first session of the Fourth Quarter yesterday that ended in positive territory by the close, dow industrials all of a sudden up 35 points and the s p 500 up 17 points yesterday. The european markets are also following wall streets lead this morning and reacting to the news here at home. The ftse 100 in london down 48, cac quarante is down 40 points and dax down 120 points. Many World Leaders wishing the president well given the diagnosis. In asia overnight, korea, hong kong and china all closed for holidays overnight. Markets there closed but japan was open and the nikkei average was down twothirds of 1 . Meanwhile this, western wild fires still burning across California Wine country this morning. Cheryl casone with those stories now, cheryl. Cheryl thats right, maria, firefighters fear a new round of gusty winds may merge two fires together creating one mega inferno. In wine country more than 70,000 people remain under evacuation orders but 5 of the fire contained, more than 8,100 fires have burned through more than 3. 9 million acres this year. According to cal fire, 30 people have been killed and 7500 structures have been burned since august 15th. Fir official saying that. Amazon revealing that 20,000 of frontline u. S. Workers have tested positive or presumed positive for covid19, 1. 4 of the total workforce. The data covers 1. 37 million of amazon an whole foods employees from march first to september 19th, amazon announcing plans to boost daily testing to 50,000 across 650 sites by the month of november, companies hope other follows will follow suit disclosing data. Stock is down more than 2 in the free market as markets are down overall. Well, the coronavirus pandemic taking its toll on new yorks economy, moodys downgraded new york city and new york state credit rating. The shutdown impacted revenue from sales and income tax with moody saying that the state has yet to make any lasting changes to address the issue. Moody said the rating for new york city could drop further if it relies heavily on borrowing. Mayor de blasios office responding responding that the mayor has a record of strong fiscal management. And then theres this, gap planning to hire 10,000 Seasonal Workers to help pack online orders and call centers. Surgery on online orders for the holiday. Gap which also knowns navy old navy, excuse me, Banana Republic added 3. 5 million customers through online channels in the Second Quarter. That news as we head into the september jobs report, maria. Those are your headlines. Maria all right, cheryl, thank you. Weve got breaking news this morning and we are covering it all morning. President trump and First Lady Melania Trump have tested positive for covid19. The president announced the news on twitter overnight. He and the first lady will begin quarantining immediately. Both the president and the first ladys diagnosis comes after they traveled with Senior Adviser hope hicks who also tested positive. White house physician Sean Connolly said in a statement that the president and first lady are doing well. Joining me right now republican strategist Jonathan Madison and democratic strategist Michael Starr hopkins. Let me ask your reaction and how this changes campaign season, michael . This is not a good thing, our thoughts and prayers are with the president and his family but im also thinking about the white house staff that makes the white house go around. We hope that they are safe and their families are safe. In terms of the campaign, this upends everything. They will be questions about whether we have debates, are there going to be any more rallies, what about, you know, congressional staff, members of congress, the Supreme Court nominee Amy Coney Barrett, whether or not shes met with Staff Members with the president. We know mark meadows were around escorting around. Mark we should point out that mark meadows has tested negative. Mike pompeo, secretary of state and his wife also reported that they have tested negative. Whats your reaction to this, jonathan, and how you believe this changes . Do you think we would see any president ial debates . Its always a possibility, maria, with the benefit of skype and zoom and technology such as that. I also think the president is going to have the benefit of sympathy from the American People and probably worldwide just because people know the nature of this pandemic worldwide. Its affected millions and millions of people. Its no respect to a person, so to speak, and so i think the president still has a decent chance out there to capitalize and to to actually gain some sympathy in being in this position. When it comes to the coronavirus, theres no left or right, it should just be about the preservation of life. I will say, maria, very briefly, i have heard some people on the left start to make these remarks like got you, or, you know, i told you so with regard to some of the president s remarks, i just want to remind everybody, this is a pandemic and this is a very serious issue and i hope as Michael Starr hopkins says we can rally, unit and pray that the president and the first lady recover swiftly from the illness. Maria yeah, the president s doctor said says hes expecting this will not be disruptive to the president continuing to do his duties, the diagnosis, of course, coming just over a month away from election day. Thats 32 days, joe bidens Campaign Announced that it will begin knocking on doors nationwide this weekend campaigning for the former Vice President , this after bidens campaign criticized the Trump Campaign for doing the same thing, michael. But the Vice President is now doing that and his team, isnt he . Micheal yes, so the Vice President s campaign will be knocking on doors across the country, theyll be Wearing Masks which i think is the most important part of this. I know theres a split among democrats on whether we should be doorknocking and at this point in the election its all or nothing, and so i think the most important thing is that every american needs to you said how important it was and is to wear masks. We saw members of the trump delegation come into the debate hall the other night without Wearing Masks, we saw the president mock joe biden for Wearing Masks on stage during the debate. Weve got to depoliticize this. Maria when he did mock, joe biden . Every time i see joe biden he has a mask on and he has a huge mask on and he should have a mask on because the cdc i dont think that implies that he was making a gesture, mocking him, he just said he has a mask. Okay, the president was maria the impact to policy. Lets talk about the impact to policy for a moment because we are expecting that we are going to get a vote certainly out of the senate for the upcoming nomination of Amy Coney Barrett. Jonathan, do you think this impacts that . Lets talk about the things that are in place in the next 30 days and then, of course, a major election on november 3rd, 32 days away. What gets impacted with the new information that the president and the first lady have covid . Jonathan because of modern technology the president can still communicate with both members of chambers, Mitch Mcconnell, with nancy pelosi, you know, so its not like it stops his ability to communicate which is fortunate here. So i dont think hes going to stop or hinder his ability to actually make this happen or actually make this go. Maria what about the nomination of Amy Coney Barrett . Jonathan i dont think its going to have a real impact, maria. I just dont i just dont see it. Maria okay. Jonathan the president s ability to communicate with both chambers is whats going to make that happen. Maria yeah. Great to see you, guys, final word, michael, go ahead. Micheal this isnt just a communication issue. They have to have the vote and we have Mitch Mcconnell, you have very senior individuals within the Republican Party and democrats who are going to be nervous about being in the same room with each other because of this infection. So i think this definitely puts a pause on for a second. Maria Lindsay Graham says they feel they have the votes and move forward with confirmation and any other material incident or policy that can impact this, we will cover as well. Thank you, gentlemen. Zeroing in on President Trump and first lady mill melanias positive diagnosis. Tim ryan is ahead of coronavirus tests, youre watching mornings with maria live on fox business. See yourself. Welcome back to the mirror. And know youre not alone. Because this is not just a mirror, its an unstoppable community. Come on jesse, one more its every workout. Come on you two, lets go for everyone. So join in now. And see your best self. In the mirror. Its time for sleep numbers fall sale on the sleep number 360 smart bed. You can both adjust your comfort with your sleep number setting. Can it help me fall asleep faster . Yes, by gently warming your feet. But can it help keep me asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable. Will it help me keep up with mom . You got this. So you can really promise better sleep . Not promise. Prove. Dont miss our weekend special. Save 25 on the sleep number 360® c4 smart bed with any Smart Adjustable base. Plus 0 interest for 36 months. Ends tuesday. Knowinits hard. Re is hard. Eliminate who you are not first, and youre going to find yourself where you need to be. The race is never over. The journey has no port. The adventure never ends, because we are always on the way. Maria welcome back. Breaking news this morning, President Trump and First Lady Melania Trump have tested positive for the coronavirus. The president tweeted overnight this, tonight flotus and i tested positive for covid19. We will begin our quarantine and Recovery Process immediately. We will get through this together writes the president. Joining me right now Infectious Disease expert amish adalsha. Would the president and the first lady have to quarantine 14 day, whats the process . When somebody tests positive its a 10day isolation period granted that they have not developed a fever for the last 3 days and have to be getting better. If its no symptoms, thats 10 days, thats the minimum that we use. Maria okay, so 10 days is the minimum, walk us through some of the symptoms that the president and the first lady might be feeling if, in fact, they were to so far the president has said no symptoms, we havent heard of any symptoms and he said that he is not going the see this as a disruption. His doctor said says hes expecting the president to get through all of his duties that he otherwise would have, do you agree thats possible . Doctor it is possible, we have people that are asymptomatic but you have to remember the president is elderly person and obese and theres severe factors, symptoms, fevers, chills, muscle aches and pains, sore throat, fatigue, nausea, diarrhea, its what commonly occurs with people who get symptomatic and the ones to worry about is shortness of breath, fatigue, all the serious symptoms. Maria what kind of treatment and care the president and first lady to receive then, weve talked so much about therapeutics, how soon we will get a vaccine and here we are talking about it in terms of care and treatment for the president . Doctor if theres no symptoms in either of them there wouldnt be a need for treatment. Some symptoms that are mild enough that you use tylenol and ibuprofen for fever. If we had treatment for mildness, it would be a gamechanger, its just support for these type of infections. Maria dagen. Dagen dr. Adalja, is it positive that you test positive and negative shortly thereafter number 1, and number 2, what is the recovery broadly for someone in the president s age bracket who gets covid . Doctor you can test positive and then test negative immediately and that would be likely because of a false positive, but i suspect that because of the close contact he had with a case that this is likely not a false positive and the wife that his wife also positive really argue these are positive test results. We dont test people a second time routinely unless theres a reason to test them. You have a positive test and tenday isolation period and monitor for symptoms. In the age group of the 70s the risks most people still will recover by higher rate to see a doctor and needing to be hospitalized and hopefully if no symptoms occur thats what the trajectory would be, you dont know ahead of time and you have to monitor individuals especially when they are older and or obese. Maria stay with us, a market down 367 off of the lows, we will be right back. Its time for sleep numbers fall sale on the sleep number 360 smart bed. You can both adjust your comfort with your sleep number setting. Can it help me fall asleep faster . Yes, by gently warming your feet. But can it help keep me asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable. Will it help me keep up with mom . You got this. So you can really promise better sleep . Not promise. Prove. Dont miss our weekend special. Save 25 on the sleep number 360® c4 smart bed with any Smart Adjustable base. Plus 0 interest for 36 months. Ends tuesday. Maria welcome back, markets are selling off this morning, futures are off of the lows but nonetheless showing a decline of 345 points as investors react to the news that President Trump and First Lady Melania Trump have tested positive for coronavirus. Also joining the show all morning long this morning, Senior Writer for the wall street journal Jon Hilsenrath, we bring in jon, great to see you, thank you for being here. Weve had a market trade higher in last 6 months or so as investors were surmising and reaction to the news and your thoughts on the president s diagnosis and what this means for the rest of the campaign and the the election, jon . Jon well, obviously, you know, the first thought has to be hope for a quick recovery for the president and and first lady and other white house staff who have gotten ill. In terms of the campaign, you know, two things about the campaign and the market, one is that they have been remarkably steady over the course of this year. The president s Approval Ratings you know, i think that the American Public pretty much knows who this man is and in terms of the campaign, i think, you just have to hope that he gets better and i think a lot of people have made up their minds already. The market has been remarkably resilient through such financial shock so theres a bit of a selloff today. I think we are down somewhat, but i wouldnt call it a major decline. So i think the market and the campaign will be all right and we just have to kind of think about getting through this next ten day, twoweek period and get back to business. Maria yeah, and the president s doctor says he will be able to continue without disruption despite this. So theres that. Of course, the president is expecting the same thing. We will talk with tim ryan and talk about the latest of the coronavirus test of the president as well as the negotiation of another stimulus package, all start next hour with mornings with maria. Stay with us, mornings with maria live on fox business. We will be right back. 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. Maria welcome back. Good friday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is friday, october 2 on. It is jobs friday this morning. We have breaking news this morning, President Trump and the first lady, first lady melania, have both tested positive for coronavirus. The president confirming this in an overnight tweet. The white house doctor says the first couple remain well, expecting President Trump to continue carrying out his duties without disruption. Well get medical analysis this morning, a look at what it means for the markets and the election with only 32 days to go before we vote. Stimulus battle, the house passing the 2. 2 trillion heroes act yesterday after high level talks ended without a bipartisan deal. Peter navarro joins me next hour with more on jobs across the country. Economists are expecting 850,000 jobs added to the economy in the month of september. Theyre expecting the Unemployment Rate to tick down to 8. 2 . Our special coverage on jobs begins at 8 00 a. M. Eastern this morning. Dont miss it as we identify where the jobs are this morning. Markets are reacting to the president s Coronavirus Diagnosis. The dow industrials are off of the lows this morning, nonetheless showing a decline of 347 points, nasdaq is down 215, and the s pes this morning lower by 45. This after a choppy first session of the Fourth Quarter yesterday, that was the first day of the Fourth Quarter and it ended in positive territory with the dow industrials up 35, nasdaq up 159. Mornings with maria is live right now. European markets this morning also reacting to the news here at home and as you see it is down across the board in europe with the fq down 35, cac down 32 and dax lower by 127. In asia overnight, lot of holidays there, korea, hong kong and china closed for market holidays, the nikkei was open in japan, it was down twothirds of 1 . Breaking news overnight, President Trump and First Lady Melania Trump tested positive for covid19, the president confirmed the news in a tweet. He said tonight we tested positive for covid19, we will begin our quarantine and Recovery Process immediately. We will get through this together, writes the president. The first lady also tweeted it out, writing in part, we are feeling good and i have postponed all upcoming engagements, be sure you are staying safe and we will all get through this together writes the first lady. White house physician sean conley says the president and first lady are doing well and will remain at the white house while they recover. The president s positive test comes hours after a his top advisor hope hicks also tested positive, she mostly traveled recently with the president to the debate in owe o ohio on tue, she was with him in medicine se. Secretary of state mike pompeo says that he and his wife have both tested negative for the virus. Mark meadows has also tested negative. Hours before testing positive, though, for covid19, the president discussed the possible changes for the next president ial debate. In an interview with fox news on sean hannity last night, among the ideas floated a mute button to keep candidates from interrupting one another. This is the rules that were agreed to. I think it would be very bad. You remember with Hillary Clinton, they modulated my mic and apol apologized for it. When i looked at her, i had my mic turned off. Were dealing with tricky people here. I like the format. At the same time, hes got to be truthful. Maria joe biden is also weighing in on the debate proposals. Heres what he said. Theres consideration they might mute the mics in between you speaking, is that something you would support . As long as we have an opportunity to respond to the he question from the people in the audience. Maria sources tell fox news that joe bidens debate negligence other yatesers specific i negotiators specifically requested the mute button. Meanwhile, the house passed a 2. 2 trillion Coronavirus Relief bill with no support from republicans, House Speaker nancy pelosi says the negotiations with treasury secretary Steven Mnuchin will continue but even if they do make a deal the bill is unlikely to pass through the Gopled Senate because they feel this bill is too expensive majority leader Mitch Mcconnell said he will not support any legislation worth over 2 trillion. Were just over a month before election day, 32 days and new data from the United States election project reveals that more than 2 Million People across the country have already voted. 54. 5 of gathered ballots have come from registered democrats with just over 21 coming from republicans. In 15 states, the number of ballots requested has exceeded the total number of votes cast in 2016. Thats the total number of requests. And with mailin voting underway in several states, the Trump Campaign launched a lawsuit against philadelphia overnight over the refusal to you allow Campaign Officials to observe voting offices set up across the city. The city argues theres no legal basis for Campaign Officials to oversee the election process on election day. In South Carolina, officials are asking the Supreme Court to step in after a District Court struck down a state requirement that all absentee ballots be signed by a witness. More than 150,000 absentee ballots have been mailed out in that state. Breaking news, we are following all morning long this morning, President Trump and first lady melania have tested positive for the coronavirus. Investors are reacting to the news this morning, the dow industrials are down 334 points and the nasdaq down 215. Edward lawrence is here now with more. Edward, good morning to you. The important point, the white house physician says the president at the moment is asymptomatic. He will carry on the duties of the United States while quarantine, inside the white house. Were getting reaction from around the globe, World Leaders weighing in, giving sympathy for the president and getting better. The people in the president s circle are getting tested. So far, secretary of state mike pompeo has tested negative. He said he was tested this morning. Also, the chief of staff, mark meadows, testing negative for this. We have reached out to the office of the Vice President. We have not yet heard back you about whether he has tested negative for the coronavirus here. Again, lets follow the timeline on this. It was wednesday night that hope hicks says as reportedly tested positive. She was either showing symptoms at or just after the event in duluth, minnesota. She was quarantined on air force one when they came back to washington, d. C. Thats when the rest of the president s delegation started to get tested for the coronavirus. The president talked about the importance of Wearing Masks and the coronavirus during the debate he had with the former Vice President joe biden. Listen to what he said about Wearing Masks specifically. Listen. I mean, i have a mask right here. I put a mask on when i think i need it. Everybodys had a test and youve had social distancing and all of the things that you have to, but i wear masks when needed. When needed, i wear masks. The president did test negative for the coronavirus on the debate night, but again testing positive now. He is asymptomatic and still running the country from inside the white house. Back to you. Maria edward, thank you. Edward lawrence there. It is time for the word on wall street, with the market down in the triple digits, top investors watching your wallet this week. Joining me right now keith banks, managing partner david bonson and managing partner mike murphy. Thank you so much for being here. Great to see all of you. I guess keith, lets kick this off. Like to get your reaction to what were seeing in the market as a result of this Coronavirus Diagnosis of the president. How do you see it, keith . Well, not surprising, maria. Obviously, our best wishes go out to the president and the first lady. Our expectation had been this notwithstanding that as we got closer and closer to the election, we would continue to see increased volatility. So this is playing into that whole thesis. But when you step back and hopefully the president and the first lady will recover in a timely way, there are a lot of powerful forces that we think are going to continue to drive the market higher. You look at manufacturing globally, its doing very well. The consumers hanging in there. Bank of America Global Research tracks our credit card and debit card tracking down 2. 3 year over year over the last seven days ending the 26th of september, manufacturing globally, theres just a lot going on that we think will continue to drive the economy forward and as a result of that, we think youre going to see that reflected in a surprise, surprise as the profits get printed not only in the Third Quarter but moving forward into 2021. Maria yeah, i think you make a really good point, because we he have seen the worst it feels like in terms of the broad economic backdrop, keith. Do you agree with that and are you expecting growth and an earnings pickup in the Fourth Quarter . We are. We think youre going to see in the current in the Third Quarter youre going to see probably growth in the 27 level, real gdp. But then well settle into a more normal level of growth off that bounce, so maybe youre talking about 3 to 5 in the Fourth Quarter, 5 in the first two quarters of next year. We think the real surprise will be in the profit side. Housings out there generating with a big multiplier effect, a lot of positive ripple through the economy. We think one of the big drivers of the market, maria, Going Forward not only this quarter and the rest of this year but into 2021 will be profits and thats going to be a key and were watching that very closely. Maria all right. By the way, were going to start getting Third Quarter profits in about two andahalf weeks or so so were going to get a good indication of what happened in the Third Quarter and well get some expectations for the Fourth Quarter and 2021. The september jobs report is due out in an hour andahalf, were expecting 850,000 jobs created in the month of september, expecting the Unemployment Rate to drop to 8. 2 . Lets talk about your reaction to what weve heard this morning, this diagnosis of the president and whether or not the jobs recovery is going to still be in place. Oh, i do think it will be. Obviously, on the news this morning, everyone should be wishing the president and his family a quick recovery. In terms of its impact on our of markets and as we sit here now with the dow futures down 350, they were down closer to 500 an hour ago, im really surprised its not much more than that. I think that the uncertainty, the volatility are going to be the themes around this and ultimately the earnings outlook as we go into earnings season and that Overall Economic recovery are going to take over. The uncertaintys temporary. The real trajectory of the economy becomes more fundamentally something to root what market behavior will be. I think the adp number the other day and the overall trajectory, the continuing claims yesterday, indicate that todays jobs number should outperform expectation as well. And all that is in the same theme. Things are not good but theyre getting a lot better. That seems to be the narrative around almost any Economic Data point you can look at right now. Maria yeah. And they have been getting better. Construction, for example, is up you amid this pandemic, michael. U. S. Construction spending rose 1. 4 in august, driven in big part by Single Family homes. That was up 5 andahalf percent. Mike, whats your take here . Are we going to still see home sales rise . Weve got obviously the president and first ladys diagnosis to deal with over the near term, weve got 32 days before the election. But underlying this breaking news, weve seen an economy that has begun to come back, whether you look at housing or even capital expenditures, mike. Cap ex. Absolutely correct, maria. Good morning. Great to see you. Of course, obviously wishing the president and a first lady a speedy recovery. But when you look past that and past their recovery and look at the u. S. Economic picture, housings a great area to focus on because its not too long ago we talked about millennials never buying houses and the Housing Market in the country maybe never returning and interestingly enough, post pandemic and with Interest Rates and Mortgage Rates at historical lows, all of a sudden youve seen a huge pickup in housing demand. So as that continues, and we expect it will continue, you see demand for jobs in construction, you see demand for jobs in manufacturing, you see demand for shopping and things for the home like furniture. So overall, we have a very strong recovery in the u. S. And theres nothing to think that nothing that shows that thats going to stop any time soon. The u. S. Consumer is of out there, they want to spend and with Mortgage Rates at these levels right now, i think youre going to see a big demand for housing. Some people moving from cities to suburbs, some people moving into cities, believe it or not. But one way or the other, people now were no longer a complete rental economy. People want to buy homes and own homes and that has a big trickledown effect across the entire economy. Maria it sounds like you would all buy into todays selloff. Its not that significant, only 300 points, but still you want to be buying this market. Absolutely. Because again, this is a shortterm concern. Will cause shortterm volatility. But it doesnt change the Bigger Picture at all. Maria all right. Gentlemen, thank you so much. Keith banks, david bonson and mike murphy, great to see you all, gentlemen. Thank you. Stay with us. Well be right back. A lot more to come, right here. Maria welcome back. Breaking news, we have been following and covering all morning this morning, President Trump and first lady melania have tested positive for the coronavirus. The first couple confirming their diagnoses earlier this morning, the white house doctor says that the first couple are doing well this morning and they will quarantine as they recover. Joining me right now is pennsylvania congressman, House Foreign Affairs Committee Member and house transportation and infrastructure Committee Member, scott perry. Also joining us this morning is ohio congressman tim ryan. Gentlemen, great to see you. Thank you so much for joining us this morning. Congressman perry,let me kick it off with you here, your reaction to the president and first ladys news and how this will impact the agenda. First, well wishes, speedy recovery to the president and the first lady. And i think its indicative that nobodys essentially immune from catching the coronavirus. Members of congress, other foreign leaders. Probably in one of the most highly tested places in the country, the white house, it is everpresent around us. But the president is strong and i expect that he will recover as quickly as anybody has and be right back on the trail. Obviously, its going to make some changes and were waiting to see what those changes are. But the president , the people that love and know the president are going to be very, very supportive and i dont think youre going to see anything different there. So there might be surrogates of out there. Might be the president changing the paradigm as he often does and campaigning right from the white house remotely. So i think a lot of people are very interested to see and i think it would be a great way for the president to continue to lead and show the American People how strong he is and that no matter whether the virus is present in your state or in your community, we still are americans, we still have to get things done. Hes still the president. Hes still got to work and weve got to move forward together. Maria i wonder what this means for the rest of the debates. The Vice President ial debate is next week and then there are two more president ial debates. 32 days out from an election. We havent heard any news on the debates yet. Do you have any information on that . We do not. We know that at least its been reported that Vice President biden doesnt he doesnt get engaged sotospeak until after 8 00 so im not even sure i dont know that whether theyve been informed or not yet but we havent heard any information from the Vice President , even regarding his testing and his status post the last debate where there was social distancing but i think with all due precaution youve got to make sure. Maria let me move on to you, congressman ryan. Democrats yesterday passed a revised coronavirus aid bill, negotiations between House Speaker pelosi and Steven Mnuchin continuing. The senate is expected to reject the deal. Mitch mcconnell said he cant agree on anything beyond 2 trillion. It does include another round of direct payments and extension of enhanced Unemployment Benefits. Your thoughts on this, congressman, even if it doesnt go anywhere, what are your thoughts on the agenda today, what can get done in terms of bipartisanship now with this new diagnosis . I hope that if hes willing to get to 2 trillion, sounds like we may be able to get a deal. I think this is essential, maria. I dont think we can go into the flu season without having some package out there to stabilize the economy through january. You look at the challenges that so many people are facing around rent, around mortgage relief, around unemployment, Small Businesses are down 30 o 30 to. Theres money for small restaurants, the save our stages bill is in here, which will take care of concert venues, the Small Business will go to the front of line. Theres a lot of people out there still hurting. I think its important for us to get this money out the door in the next few days or weeks to stabilize the economy. Maria yeah. And people are saying that we need it, in terms of growth. In terms of the expectations that we will see growth in the Fourth Quarter. Congressman, stay with us. We want to take a break. I want to ask about the new fresh polls that we have. We are looking at polling in both of your states, youre both in swing states. Its real important. Lets get into it after this short break, scott perry and tim ryan. Well be right back. See yourself. Welcome back to the mirror. And know youre not alone. Because this is not just a mirror, its an unstoppable community. Come on jesse, one more its every workout. Come on you two, lets go for everyone. So join in now. And see your best self. In the mirror. So youre a Small Business, or a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Maria welcome back. Joining me right now once again, congressman scott perry and congressman tim ryan. The race for the white house tightening in key battleground states, both of your states, gentlemen. We want to look at ohio as well aspens vein ya. As pennsylvania. According to a new poll, joe biden has a 9 point lead over President Trump in pennsylvania. A new yo poll shows in ohio, joe biden has 5 lead over President Trump. Its been pretty consistent that the president is lagging or trailing joe biden in all of these polls. Yeah. Well, i will tell you this, maria. We heard this essentially four years ago and i would just say this. Joe biden as i understand it, Vice President biden has scheduled four trips to pennsylvania this week. That doesnt sound like a candidate who is assured that those poll numbers are comfortable. And so with all due respect, i know that thats the New York Times. Im going to say that and leave that where it is. I think the internal polling that each campaign that theyre looking at shows a different story and youre seeing the youre seeing the manifestation of what they believe in their actions. So i think theyre both working both pennsylvania and ohio and other key battleground states because their polls reflect Something Different internal. Maria yeah, tim ryan, you know, im never sure about these polls. I guess one poll which really struck me recently was the poll that asked people who they think their neighbor is voting for and it was 39 said, look, i think my neighbor is voting for President Trump. To me that says, oh, yeah im asking for a friend, wink, wink, whats your take on these polls and what are you hearing from your constituents in ohio . Hello to my buddy, scott perry. Always good to be with him. Let me just say that its Wishful Thinking to think this is like 2016. Hillary clinton had very narrow leads nationally. Joe biden has the Biggest National lead that weve seen in president ial elections in a long time. Hes in pennsylvania because if we lock down pennsylvania, this election is getting very, very close to being over. Trump really hurt himself in the debate this week. Hes bleeding in suburbia. Joe biden has a great plan. Hes good on issues like natural gas which is very important in western pennsylvania and eastern ohio. Those workers at those cracker plants, 10 billion cracker plants in northwestern pa, good Union Construction jobs, they know joe biden is with them on that issue. Theres another 10 billion cracker plant in eastern pa, joe biden is with them on that. So theyre very comfortable, maybe having voted for trump last time and coming back to joe biden this time. The issues around healthcare, the president and the republicans have not addressed the needs of the American People around the issues of healthcare. The pay control tax cut which is hurting Social Security and medicare issues, so these bread and butter issues, maria, weve got to rebuild the economy and the president has had four years to do a an infrastructure bill, couldnt get it done, to reinvest back in the dominating electric vehicles, Battery Charging stations, no plan from the president. So working class people are starting to break towards joe biden and women in the suburbs after that performance last week, im telling you, maria, we see the polls in the next few days coming out after the debate, hes bleeding in the suburbs and thats why joe biden is going to win these states. Maria maria to be clear, the president would push back and say, look, it was joe biden who sent all those jobs to china, to mexico, by supporting nafta, by supporting companies wanting to send their supply chains to china. Real quick, congressman ryan. Well, the tax code and tax cuts continue to give preference to offshoring and outsourcing. Weve seen it from ford. Weve seen it from general motors, weve seen it from other Companies Moving their production to places like mexico. Weve got to build back better, weve got to outcompete china. Thats the bottom line. Weve got to be firm with trade deals, firm with enforcement on of counter veiling duties and all that. If we dont invest in the new economy, training, upskilling our workers, broad band, closing the digital divide, electric vehicles, charg charging statio. The only way to beat china is to outcompete them and joe biden has a hell of a good plan to make sure that places like youngstown and akron, ohio are plugged into the new economy. Maria the Chinese Communist party keeps stealing from us. Scott perry, go ahead. Always good to be with my good friend, tim ryan. If people think that joe biden is with the hig high hydraulic g industry in pennsylvania and ohio, then hes the one that said hes going to shut them down. Theyre going to definitely be with President Trump. Dont do that. Thats not true. Its right out of the Vice President s mouth. Its not me saying it. He said it. We all know it. He can back peeas much as he back pedal as much as he wants. The president is ready to sign a transportation bill. Four years. We dont need the green new deal. It costs 93 trillion and will bankrupt the company. People know this. And people know these things. Maria we have another day to i love scott perry, maria. I love scott perry. They hoped and wished they were running against Bernie Sanders or a socialist. Theyre not. Theyre running against a Bernie Sanders plan. You wish. You wish, scott. Maria Kamala Harris did endorse the green deal. Kamala harris did endorse the green deal, tim ryan. Its great to see you both. Great to see you. Nice try. Nice try. Maria stay with us. Well be right back. This is decision tech. Find a stock based on your interests or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Noand if youre troubledan a lifby falls and bleeds,ers. Worry follows you everywhere. Over 100,000 people have left blood thinners behind with watchman. Its a onetime, minimally invasive procedure that reduces stroke risk and bleeding worryfor life. Watchman. Its one time. For a lifetime. Maria welcome back. It is friday, october 2nd. Im maria bartiromo. Thanks for joining us. It is friday, jobs day. We are taking a look at markets this morning, 7 34 a. M. On the east coast. Lets take a look at where we stand, the dow industrials down 400, nasdaq lower by 253, s p 500 weaker by 52. Futures are in the red, slightly off of the lows, as investors react to the breaking news this morning that President Trump and first lady melania have tested positive for the coronavirus. All of this after a choppy first session of the first quarter, of the Fourth Quarter, rather yesterday. Fourth quarter kicked off and the markets did end in positive territory when all was said and done. It was a volatile day, dow industrials up 35, nasdaq up 159, s p higher by 17 andahalf. European markets this morning are also lower. Taking a cue from wall street this morning. Now this, a mask mandate. Cheryl casone with details. Cheryl this is happening in mississippi. The state has become the first state to completely drop the mask mandate as cases begin to fall. While masks will no longer be required there, social distancing measures will still be in effect with Gatherings Limited to 20 people indoors and 100 people outside. Mississippi has had a mask mandate in place since august 4th. Well, a federal judge in San Francisco blocking the Trump Administration from restricting h1b visas which workers rely on to work in the u. S. This ruling applies to workers represented by the National Association of manufacturers, the u. S. Chamber, National Retail federation. President trump you may remember declared in a proble that u. S. E a threat to the u. S. Labor market. Fund management looking to consolidate the Asset Management industry. The firm taking stakes in invesco and Janice Henderson group. According to some reports, the stake in both companies totals about 9. 9 . Thats about 900 million. Tryon founded by activist investor nelson pinvestnelson p. Car shopping website reports u. S. Auto sales for the Third Quarter still down 11 but thats a huge improvement from the nearly 31 plunge that we saw in the Second Quarter. And finally, Caliber Home Loans is preparing to go public, filing confidential ipo paperwork earlier this week that could value it at more than 2 billion. Home loans are expected to rise 45 to 3. 1 trillion this year. Nose low Interest Rates really helping the Housing Market, maria. And back to you from here. Maria cheryl, thank you so much. We have breaking news this morning, weve been following it all morning of long. President trump and First Lady Melania Trump tested positive for covid19. The president announced the news on twitter overnight saying he and the first lady will begin quarantining and the recovery immediately. White house physician, sean conley, says in a statement that the president and first lady are, quote, doing well. Joining me right now with reaction is american majority ceo ned ryan. Its good to have you this morning. Thanks very much for being here. Your reaction to what weve heard and its impact on the election season, all Campaign Events have now been canceled 32 days away from the election day. Yeah, no, maria, first of all, my best wishes and prayers for the president and first lady for a quick and speedy recovery. Im a campaign guy. My first thought waking up this morning at the news of this is how will affect the debates, how will affect the rallies, the home stretch run, four weeks coming down the home stretch. The first thought is i think the second debate is definitely in question, are they going to cancel or postpone it. Weve seen the rallies being canceled today. Knowing donald trump, as i do, a more robust 74yearold ive never met. He operates off a Different Energy system. I suspect again, hes asymptomatic. You might see a live address, public address today from him. I would hope so, that he would go on and reassure people hes feeling great. He will do as much as he can while hes on quarantine, whether on social media or of calls to accelerate and work on the campaign. He knows this, this is one of the most important elections not only in our lifetime but in jen races. I suspect he will be doing everything he can while hes quarantined to advance the cause of his campaign and theres a lot of us out here that are working on his behalf as well that will renew our efforts to make sure that come november 3rd that he can win reelection. Maria ned, let me ask you about the jim comey testimony. Fbi director jim comey grilled on capitol hill this week on the origins of the russia probe. I love kim extra strassels ops week, called the james comey election. She writes his testimony was a reminder of everything that enrages trump voters, this coming as new documents released from the Mueller Investigation show what witnesses told the fbi about the Trump Campaign and russia. Heres a line from the oped, mr. Comey per son phis what enrages those americans. This was the crew in 2016 based on the thinnest of tips launched a Counter Intelligence investigation into a president ial campaign. Comey triggered the public release of the collusion accusations, secretly kept memos of the conversations with the president for future leverage, leaked them to bring up a special counsel. You know how outraged ive been by this story over the last several years. Do you agree that watching the arrogance of jim comey on tv yesterday that he didnt remember anything enrages americans and reminds them that this is the other side, this is what this election is about . Were not going to hear another word about the biggest political scandal in our lifetime should joe biden win the presidency. No, this is shameful. I mean, this is nauseating, comey pulling a regular sergeant schultz, i know nothing and claiming that as a fbi director it wasnt his job to verify the fisa warrants. Then again, what you just read and what we have known and followed over the of last however many years, this wasnt some misunderstanding. This was method call. It was intention shale. It was a intentional. It was a massive abuse of the Law Enforcement regime to weaponize them against a political opponent over of policy differences and the fact of the matter is the fbi has been broken for decades. I would hope that in his second term trump would actually dismantle the fbi. I think its become a fraternity of uber powerful federal police who are unaccountable and i would argue one of the greatest threats to our freedom and liberty today. But theres one word that Law Enforcement and the surveillance state are based on, and its trust. And the only way that you restore trust in our broken institutions and they are massively broken, maria, is for there to be severe consequences and i have advocated for this and i hope the durham investigation will ultimately lead to this. People have to go to jail. Thats the only way that you restore trust from this massive abuse of power. Maria i couldnt agree more. Well see if john durham comes out with charges against jim comey and Andrew Mccabe who obviously were running the fbi and running this investigation. But kim strassel writes that this all took place in Barack Obamas and joe bidens washington and she runs through the list of those eight years. Dont underestimate the number of americans who fear a return to that world, lowest learner harassing conservative nonprofits, supervisors of the ntsb losing guns, the Environmental Protection agency minions who burned companies with everchanging rules, the bureau of Land Management harassment of ranchers and farmers, Energy Department officials steering stimulus payouts to cylindra and other project of obama donors. We havent heard one word out of joe biden about the wrongdoing at the fbi. Has he said anything about the fact that an fbi agent doctored a piece of evidence so they could bring down trump . Well, of course not because i think hes as guilty as anybody else. Obviously promoting the logan act to target general flynn. An egregious abuse of power. This ultimately brennan briefed obama on clintons idea to bring up russian collusion. This goes to the west wing, goes into the oval office of the obama administration. Of course joe biden is not going to address this or comment on this because it then highlights his very significant role in this abuse of power. So its incumbent upon us to remind people, coming down the home stretch, this is a massive abuse of power. Why on earth would you give somebody like joe biden the reins of power again. Maria now we know it was all hillarys idea. My sources told me thats all true you what you saw this week, this was not russian disinformation. This was information that hillary came up with an idea to tie trump to putin. Bottom line. We saw that in the declassification this week. Ned, its good to see you this morning. Well keep watching. Thank you, sir. Stay with us, more to come with the market down 400 points. Well be right back. Reentering data that employees could enter themselves . Thats why i get up in the morning i have a secret method for remembering all my hr passwords. My boss doesnt remember approving my time off. Lets just. Find that email. The old way of doing business slows everyone down. With paycom, employees enter and manage their own hr data in one easytouse software. Visit paycom. Com for a free demo. Maria welcome back. Breaking news this morning, President Trump and First Lady Melania Trump have tested positive for covid19, according to the white house physician this morning, sean conley. The first couple is doing well and will stay in the white house as they recover. This surprising diagnosis just over a month before the election, 32 days out. Joining me right now is professor at Johns Hopkins school of public health, med page today editor in chief and medical contributor dr. Marty makary. Tell us about the incubation period for covid19. How long until the president returns to the campaign trail, in your view . Well, good morning, maria. Theres a couple different scenarios. One is if the president never develops symptoms and that is a very real possibility. I think theres only a 10 to 20 chance that he does develop symptoms based on some of these recent studies weve been looking at, at antibodyings andd who has been exposed. If he doesnt develop symptoms his doctors will require two negative tests before they give him the green light. If he does develop symptoms, we generally recommend someone is not cleared until 10 days after the beginning of symptoms. That would put him in the october of 13, 14 timeframe, three weeks before the election. Thats basically what were looking at. And lets hope that he develops no symptoms and in a couple days he gets two negative tests. Maria and in fact, the president and the first lady both say that they dont have any underlying conditions as far as we know and they are not seeing any symptoms either. What about the president s age, weight, gender, any of that impact recovery, doctor . Well, lets remember, somebody with his profile, there is a 99 chance of a total cure and a complete recovery doing absolutely nothing. Thats simply the statistics on coronavirus. Now, there is a recent set of studies from one from europe that showed that in italy the viral load was less and another one from wayne state in michigan that actually showed that when the viral load was less in somebodys system, the mortality was way down. Theres a phenomenon going on right now and that is that were seeing a spike in cases but we are not seeing an increase thats proportional with mortality accounting for our better therapies and accounting for mortality being a lagging indicator. Factoring all of that stuff in, were not seeing the mortality rates that we saw in april or may and that is probably because of this theory that a lower viral load is what were seeing today, when people wear masks and dedenseify. Infections are with a lower viral load. A positive test in the general public is different from a positive test in the white house. Theyre very aggressive. They test early and they test frequently so its going to be far more sensitive. Maria all right. All really important points. Thank you so much, sir. Well see you soon, doctor. Stay with us. Well be right back. Look limu someone out there needs help customizing their Car Insurance with liberty mutual, so they only pay for what they need. False alarm. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. For as little as 5, now anyone can own companies in the s p 500, even if their shares cost more. At 5 a slice, you could own Ten Companies for 50 instead of paying thousands. All Commission Free online. Schwab stock slices an easy way to start investing or to give the gift of stock ownership. Schwab. Own your tomorrow. Maria welcome back. Breaking news, markets are selling off this morning following President Trump and First Lady Melania Trumps positive Coronavirus Diagnosis. Markets are down 393 points, off of the lows, dagen. We are waiting for the jobs numbers which will be out of course in an hour andahalf. Dagen and as the day wears on, it will be a very different picture for the nation and the markets because investors will focus on data and information that they can quantify. First up, at the bottom of next hour, will be the jobs report. Job growth is expected to slow from august but what if we get a better than expected job what if it comes in above that 1 million mark . That will certainly give the markets a lift. As we find out more about the president s schedule and what the days and weeks ahead look like for the president and his campaign and also really the powers in the hands of congress at this point and steve mnuchin, the treasury secretary, can they come together and put together a stimulus package that can sail through the senate . That will be ultimately on investors minds as well. Maria well, theres also the senate and of course the confirmatioconfirmation of amy y barrett, that is supposed to take place before the election. That seems to be in place. Lindsey graham telling me they have the votes but again, the uncertainty of all of this with the president s diagnosis has the market down better than 400 points. Still ahead, it is jobs day. Jobs in america. Our special coverage of the september jobs report begins at the top of the hour. We will identify where the highest paying jobs are, where is the growth in this economy. Stay with us, all hands on deck for jobs friday. 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. Welcome back. Good friday morning even aing thanks so much for joining us. Im maria bartiromo. Have friday, october 2, jobs friday, your top stories right now just before 8 00 a. M. On the east coast. We have breaking news this morning, President Trump, and First Lady Melania Trump testing positive for the coronavirus, the president confirmed this in overnight tweet white house doctor says first couple remain well he is expecting President Trump to continue to carry out duties, without disruption. We will get medical analysis in a look what it means for the markets and tlebs with now 32 days to go, until election day 2020. Stimulus battle continues house passed a 2. 2 trilliondollar heroes act after highlevel talks ended without bipartisan deal impact coming up jobs friday economists predicting 508,000 new jobs added to economy in september, expecting the Unemployment Rate to take down to 8. 2 special coverage begins moments from now on economy and jobs, markets reacting this morning to the president s positive coronavirus test, as you can see, the markets are near lows of the morning with decline 406 points earlier down almost 500 off the lows, this after the market traded down, in response to the news this morning the nasdaq down almost 300 points this morning, it was a choppy session yesterday, that kickoff to Fourth Quarter ended in positive territory though dow industrials up 35, nasdaq up 159 mornings with maria is live right now. Is if. Maria european markets this morning also reacting to news here at home, as you see ft 100 down 53 cac quarante down 52 dax lower 172 in asia overnight holidays korea, hong kong china, all closed for market holidays japan was open but nikkei average down twothirds of 1 , breaking news we have been covering all morning President Trump and first lady melania have tested positive for covid19, the president confirmed news in a tweet overnight writing this, being today, the first lady and i tested positive, for covid19, we will begin our quarantine and Recovery Process immediately. We will get through this together writes the president the first lady also tweeted out news she wrote this in part, we are feeling good and i have postponed all upcoming engagements be sure you are staying safe we will all get through this together, writes first lady melania. White house physician sean conley said the president first lady are both doing well, and will remain at it white house while they recover, we are learning this morning, that Vice President mike pence and his wife tested negative for the virus senior white house adviser hope hicks tested positive after traveling with president secretary of state pompeo in croatia this morning part of his European Tour said he and his wife have also both tested negative for the virus, white house chief of staff meadows tested negative for the virus hours before testing positive, for covid19 meanwhile, President Trump discussed the possible changes for the next president ial debate in exclusive interview on fox last night, among the ideas, by commission a new to keep candidates from interrupting one another. Rules that were agreed to but, you know, i think would be very bad do you mean with Hillary Clinton modulated my muc apologized for it when i look at her, my mic turned off dealing with very tricky people here, i like the this format but, at the same time, you know he has to be you you truthful. Joe biden also weighed in on debate proposal here is what he said. Would you be open to consideration mic in between you all speaking was that spg you would support. As long as we have an opportunity to respond, to the question sources tell fox news that it was joe bidens debateing negotiateors specifically requested mute button the nominee heads to michigan today house of representatives being 2. 2billiondollar Coronavirus Relief bill no support from republicans could o not agree democrats passed it themselves nancy pelosi says negotiations, treasury secretary mnuchin will continue, but even if they do make a deal this is unlikely to pass through the senate, majority leader Mitch Mcconnell has said he will not support any legislation, worth over two trillion dollars, given all of the trillions of dollars already spent in aid for the coronavirus. Just over a month before election day meanwhile, new data from United States election project, are, more than 2 Million People across country have already voted, six states released Registration Data 54. 5 gathering ballots from registered democrats over 21 from republicans, 15 states number ballots requested exceeded total number of votes cast in 2016. With mailin voting in several states Trump Campaign launched a lawsuit against city of philadelphia last night over its refusal to allow Campaign Officials to observe voting offices set up across the city, to help residents register to vote fill out ballots the city argues there is no legal basis for Campaign Officials to oversee the election process, on election day, meanwhile, in South Carolina, officials asking the Supreme Court to step in after a District Court you struck down a state requirement that all absentee ballots be signed by witness more than 150,000 absentee ballots mailed out in the state. Breaking news that we are following all morning long, President Trump and First Lady Melania Trump tested positive for to coronavirus. We are just learning, Vice President mike pence and second lady tested negative, markets reacting to president and first lady diagnosis decline better than 400 points out of the gate Edward Lawrence here with more on this ed good morning to you. Reporter good morning, maria. White house physician saying president doing well will continue to carry on regular duties without disruption inside white house inner circle being tested for coronavirus we know that chief of staff meadows tested negative this morning as well as the secretary of state mike pompeo testing negative and now, as you said, the Vice President and his wife also testing negative, for the coronavirus, well wishes coming from around the globe, this is a tweet, for Boris Johnson Prime Minister United Kingdom says this quote my best wishes to President Trump and first lady, hope, are they both have a speedyy recovery from coronavirus you may remember that johnson had coronavirus, no i recovered from covid19, some timeline as we know it hope hicks advisory to the president on wednesday,during event in duluth minnesota showing symptoms during or after the event she was quarantined on air force one coming back the union could youbags period two to 14 days so we dont know whether she is the one that gave it to the president but she was just the one showing symptoms, on wednesday, the president as i know now in tweet just after midnight close to 1 a. M. This morning saying that he does he and wife now have, covid19. Now the president , during the debate on tuesday with,the he former Vice President joe biden showed importance of Wearing Masks being prepared listen to what he said about this. I have a mask right here. I put a mask on you know when i think i need it. Tonight is an example everybody had a test, and used social distancing, and all of the things that you have to do but i wear a mask when needed when needed i wear masks. Okay, president again continuing regular duties of the nation, the government is moving forward that is Important Note here but, again, you will also treated for coronavirus back to you. Maria all right edward this you edward lanes are. Looking at market responding to all this down 353 points this morning, joining me all morning fox business Dagen Mcdowell, wall street Senior Writer Jon Hilsenrath, lets talk about this dagen, your thoughts. Dagen well, i want to start with some news add this into the conversation. This is in the New York Times the secret service has been struggling, with a covid outbreak that at least 11 employees at center in the rural maryland tested positive for virus even though agency closed it for several months to enforce procedures to mitigate transmission, according to officials with knowledge in terms of all the information coming out about how the president and first lady could have contracted this we add that in i also talking about this last hour, that so much can change as we get more information, just as the day wears on i wouldnt be surprised, this is my opinion, if President Trump didnt come out speak to the American People. Speak to people of the world, to show everyone how he is doing, that could really change the way everyone is feeling including investors. Maria i agree with that, i bet we hear from him so people see a strong voice, and hear from him directly, Jon Hilsenrath reaction to all of this . Two things, i think if we get strong job numbers chances that president speaking, publicly are even higher, you know, i think the main lesson to come out of today will see in a few minutes when jobs numbers come out that were not out of woods not out of the woods either when it comes to virus, or the job market hopefully going to be a strong number, but i think we have to remember as of august, despite strong few months we are halfway to recovery in all jobs that were lost just in march and april, and so we still have a ways to go, when you see the president inflicted by this the adviser had hasnt gone away either that might be something the market is of the reflecting out in out of woods economic front or virus front. Maria we are waiting on numbers 850,000 is the overall estimate, although there are higher estimate as well nancy lazar Cornerstone Macro looking for the a million jobs created in month of september we are about 20 minutes away from september jobs report going do have that number for you as soon as it hits the tape break down everything you need to know on jobs and growth in this economy, and we watch for Market Reaction all handson decking when we come back you are watching mornings with maria live on fox business, stay with us. You have cancer. How their world stopped and when they found a way to face it. For some, this is where their keytruda story begins. Keytruda a breakthrough immunotherapy that may treat certain cancers. One of those cancers is advanced nonsquamous, nonsmall cell lung cancer where keytruda is approved to be used with certain chemotherapies as your first treatment if you do not have an abnormal egfr or alk gene. 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Get a quote in 3 minutes at easyaspie. Com. Maria welcome back. Breaking news this morning we have been covering all morning President Trump and the first lady, testing positive for covid19, the surprising diagnosis coming 32 days before the president ial election, we are all learning Vice President mike pence and second lady have tested negative, so have the secretary of state mike pompeo and his wife, and so too mark meadows chief of staff testing negative, Dagen Mcdowell, they do test every day, all day long. How does this impact the election and the campaign . I suspect well now we know all campaign engagements have been canceled, and first lady said she canceled all her engagements as well. Dagen i can say with absolute certainty i have no idea how this will impact election and campaign not at this point. It is interesting to note you talked about this earlier, that the Biden Campaign has finally started canvassing door to door, in critical swing states. That gives them potential leg up when the president was certainly on the road great deal more than joe biden himself has been. Nevertheless President Trump is the president. And he when he steps up to a microphone, he will be on tv and people will listen he also has a great presence to say the least on twister another way he can continue to communicate. With the American People. Dagen cavern i jump . Couple things on agenda do you think things get upset in the agenda jon . Youve got the confirmation, and hearings in the senate for Amy Coney Barrett to Supreme Court as one major piece of business, that the the gop wants to get done before election, of course, going into the election, there is lots of campaigning debates as well do you think all the rest of the debates are canceled at this point or maybe he does from it zoom . Have to i will one other point to agenda republicans, democrats are negotiating, another relief bill right now. And couple trillion dollars on the line, there but getting back to dagens point i think i have gone this president has demonstrated over four years that he thrives and relishes the spotlight, and here we are, in a moment of crisis in election he has creative puts spotlight directly on him i suspect that he is going to find a way, to use that, to his advantage god willing, healthy, i think he will be working that. As far as debates who knows . We really dont know, we know a lot of some people were saying after the last one that he will need may be end up doing one more, it is really hard to say but i dont expect the president to walk away from the spotlight, as i expect to him walk into spotlight. In fact there is a report this morning the president is considering giving a National Address given this news we are trying to confirm that and certainly will come back to you with any confirmation we get, when we we will hear the president , from the president in National Address, by the way, next week, is the Vice President ial debate wednesday, Vice President mike pence Kamala Harris senator harris will go forward with their debate wednesday. Quick break then about 10 minutes away from september jobs report could be market moving we are going to break down everything you need to know going into numbers Dow Jones Industrial average down, stay with us a lot to come 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. Maria welcome back. September jobs report due out any minute about nine minutes from now economists expecting 850,000 jobs, added to economy last month, with Unemployment Rate ticking down to 8. 2 the report comes amidst the breaking news, that President Trump has tested positive for covid19, joining me right now to help break it all down making money host chaerl payne, Austin Goolsbee former wall street Editorial Board member trom nom theics coauthor moore, Joanie Courtney thank you for being here kick us off your expectation do you think priced into the market . No i think there is big question marks with all due respect to the market in jobs report i think will be a little bit north of one million, Unemployment Rate 7. 9 , so the key here more people are joining the labor force, the bigger question is how will this influence the last minute negotiations on fiscal stimulus i would hope even those numbers while would beat wall street estimates would illuminate how much more we have to go, coupleed with the fact that we saw personal income down 2. 7 this morning we saw homes forbearance pickup first time they have done that in a long time, there is enough he yellow flags even jobspeak should not discourage lawmaker from trying to get together lastminute deal. Maria where are we in the recovery the numbers have been getting better, i know july was really a slow month then ever since weve been seeing better numbers. Your assessment he of where we are today . Ae ya, look we had a nice snapback a rapid snapback, and my assessment is we got lets call it 50 of the whole bounceback, and now the harder part begins. I am with charles hoping for anybody north of a million i dont want much news to come out of this except good news weve got too many bad things happening in the world. If we can get past this speed bump that youve got a lot of Small Businesses ran out of ppp money, might actually shut we can prevent that from happening then be in a lot better place. There is a lot of testing going on this morning at the white house, given the news, that the president and first lady have tested positive let me tell you secretary mnuchin has tested negative. For this virus, treasury secretary tested negative stay with us he september jobs report on the other side of this break. Maria welcome back, good friday morning. Thanks so much for joining us. Im maria bartiromo. Jobs friday, to be 2 we are moments away from the september jobs report, weve got hands on deck this morning two minutes away, economists expecting 850,000 jobs, as to economy added to economy Unemployment Rate ticking down to 8. 2 going to hit tape looking for reaction, market is off the lows, but certainly still looking at triple digit decline this morning, after the breaking news weve been covering that President Trump and first lady melania have tested positive for the coronavirus. I just got news from join roberts at the white house who says there are no plans for the president to address the nation, no plans for an address to discuss any findings, as a result of this news there was a report earlier that said perhaps president would be doing that that is not happening to steve moore before we get number quick 30 seconds steve final thoughts ahead of september jobs report what is most important . If we get anything near expected number 850,000 that is going to show that we are clearly in a vshaped recovery put that on top of the expected 34 increase in gdp for the Third Quarter this economy is is booming, i am not so sure we do need another stimulus bill, so certainly not two trillion dollars. Maria we know democrats passed 2. 2 trilliondollar bill yesterday, Mitch Mcconnell has said doesnt want anything beyond two trillion dollars market down 331 points, ahead of jobs number, we want to get right to washington, and Edward Lawrence, going to have that number, going to walk us through it also give is a sense of wages, this number coming out right now, edward we are looking at expectations of up to a million jobs, created for month of september what can you tell us. Exactly 661,000 jobs created in september the Unemployment Rate declined under 8 , to 7. 9 according to Bureau Labor Statistics other numbers through labor force 7. Million that is little changed, from september the measure is 2. 3 million higher, than february, now among those in the labor force current want a job number of alternative, 1. 9 million here september, 19. 4 million persons reported that they have been laid off, unable to work because employer closed or lost business through coronavirus, talking about 4. 5 million persons, not in labor force in september. Were prevented from looking for work because of pandemic Going Forward other numbers in here retail trade, added 142000 jobs, over the month, the employment in health care and social assistance rose by 108,000 jobs in september, professional Business Services added 89,000 jobs in september, unemployment transportation and wear housing went up 74,000 jobs objects, manufacturing added 6,000 jobs in september financial activities added 37,000 jobs in september, and unemployment information unemployment in the information grew by 27,000 in september but down 276,000 since february. Motion picture industries for most september gained 23,000 job construction here seeing unemployment increase the employment increase 26,000 september so again top line number of a win here sort of under the estimates but 661,000, the Unemployment Rate ticking below 8 at 7. 9 back to you. Maria interesting report, because on the one hand the number of jobs created was below what we were expecting but Unemployment Rate going down to 7. 9 certainly better than what we expected, Jon Hilsenrath what is your first read here . Going back to what i said few months ago not out of woods yet based on these numbers a little over half of recovery from all the jobs that were lost earlier this year, you know a number of thing i am looking at is that if you look at black unemployment 12 if you look at unemployment for people will with no college, nine percent if you look at the labor force participating rate, goes up a little bit but still long way from where it was a few months ago, a lot of the people that benefited most at the end of the expansion black people with less education, get hit hardest early in down urban the another example weve got a long way to go. Maria private payroll sector payrolls off 877,000 that is private payrolls Joanie Courtney walk us through the industries that are hiring i asked you this every month because you audience wants to know where the opportunities are, where the best paying jobs are, weve got now Unemployment Rate back down below 8 , where are jobs joanie . Maria, good morning, you know the jobs are definitely in warehouse logistics, ecommerce, there is such a Strong Demand right now, thousands and thousands of jobs we are actually seeing pay raises also in this area forced to move up, in fact average pay rates well above the minimum wage we are already there, and, you know, it is 15 dollars an hour i know many people said they wanted to get minimum wage to, jobs are in have all sectors if you look at this report, let me say this is the last report, that we will see, before the election. So it is an important report the good news definitively 7. 9 unemployment we are moving in the right direction getting more people back to work. And when you look at the growth in all the different assertions, it is across the board, we are seeing retail, we actually saw over 300,000 jobs come back, in Leisure Hospitality. Health care, construction, wear housing the jobs are out in demand is increasing across the board. We are still seeing wages move in the right direction, so, i still say it is competitive jobs report. Let me say Austan Goolsbee numbers august revised upward better than we saw in august no doubt september numbers you you are looking at slowing from what you saw in august austan your reaction . Yeah, that the part that concerns me, is that not just that we would miss what was expected but that each month since the blockbuster months we have been shrinking and shrinking, if you continue that rate of increase getting smaller, i dont think we would ever get back or it would be years before we got back to even where we were before. Forget about the growth that you would have wanted to happen, so, i like this, that it is a across the board that you are seeing jobs picking up not just in the Leisure Hospitality sector but in some other sectors but i think, i think this ought to argue for the seriousness at which we think about rescue and relief we are not close to out of this problem. Maria yeah. We are looking at graphic of jobs retail trade, leisure, manufacturing, and goods producing jobs among the gains in terms of new jobs in the men and women of september, dagen a lot of data here walk us through what is most important. Dagen i am looking doing the calculation on jobs recovered from shutdown march and april those two months we lost 22 nearly 22. 2 million jobs recovered now more than half. Close to 52 , 511 2 based on back of the envelope calculation do speak of but glass half full. Still a long way to go this will light a fire under congress to get through stimulus, it will probably be closer to two trillion dollars the end of the day my prediction, also worth noting if you go back to president austan president obamas reelection in 2012, in have september of that year, the Unemployment Rate was 7. 8 , we go into this election, reelection year for President Trump, 7. 9 worth noting. Maria that is an interesting point dagen, really good. Look, weve got a market that started off weaker because of the news of the day president and first lady have been diagnosed with coronavirus doctor says they are doing well. They are fine. But, nonetheless, the uncertainty around it has investors selling this morning now we have a news that weve got a jobs market that is slowing what does it tell you about markets and economy backdrop Charles Payne for Fourth Quarter day two Fourth Quarter getting earnings in about two weeks. I think, the earnings is going to be interesting because, even though we saw obviously, secondquarter earnings down, they came in substantially better than market they did help power this market higher Second Quarter i think could you get same in Third Quarter someone mention gdp 34 atlanta fed has been above 30 for a while i am looking at the Fourth Quarter friday goldman sachs, Fourth Quarter gdp number 3 from 6 . I get it i know, you know, this i always thought was a fiscal ask conservative maybe i am not i think we have to get one more round of stimulus out there, because too bifurcated to the accepts that if we stall, we start to get snowball a bolder, it is anyone out there complaining about going doing anything now might fine themselves voting for sg substantially higher than they with an push through, by the way, being reasonable that egregious not bailing out states things of that nature the market extraordinarily key krais crashingristics. There are losses in jobs in local governments, but when you look at the private sector, there was pretty much acrosstheboard gains in a number of sectors that we look at. Steve moore, we talked about what you were expecting you said we are on our way, now you see a number that shows a slowing in the month of september in terms of jobs how do you see it . I think you guys are incredibly Debbie Downer is here my goodness if you told me five months ago we are having Unemployment Rate less than 8 i would have said i thought you were smoking ng if you told me 11 million jobs five months seemed incredible so this is is economy in terms of job creation slowing a little bit . Yeah, that was expected first 10 million jobs easier to get back than next 10 million jobs these are very positive numbers what this is telling me a robust recovery underway, that continues. And i think that the idea charles i have to with with all due respect disagree with you Government Spending doesnt stimulate anything just doesnt Government Spending stimulates government Federal Reserve intervention federal government would you have bounced same way if government did nothing would have seen the same script play out . Let me answer that good point i charles, my point is simply this, you know, maria, we have Something Like ninor 10 states that are completely open right now, texas is open, tennessee is open, florida is open, utah is open, idaho is open, the the shame of country new york, new jersey, connecticut illinois virginia remain closed down there is no reason businesses should not be reopened all over country shoals should be repepd if not going to open businesses doesnt matter charles how much government spends that is my point. Can i we also a charles . Yeah. Maria i just [multiple voices speaking]. The Federal Reserve has done talking six trillion dollars into the economy, with what the extraordinary efforts the fed has done we know that jay powell has said multiple times not going to see a move in Interest Rates going to stay near zero until 2024. Congress passed 2. 2 trillion on democrats bill yesterday. That is on top of the already six trillion from the fed, trillions more from congress, i mean some point, you know you do want to consider, what is going on with debt right you are talking about overall debt 22 trillion dollars, about the size of overall economy charles. I am considering it i am just telling you right now i agree with steve, it is ashame those states have been allowed to drag us all down the irony is many states that are killing it also see slowing down in the coronavirus, that is the real irony about it, you know states Unemployment Rates, but they are slowing it down they are american citizens, and i dont know how we get around if it we worry about debt bomb that may go off a year from now 10 years from now calling for this explosion of since obama was president , and instead of immediate dangers to this economy if we were to slip back into a double recession, i think we got to address immediate pressing issue of americans jobs gone for good case businesses closed for good try to continue this bridge, that has been so successful, i wouldnt have said this in february but i think we are in a situation weve never seen in any lifetimes. To. Dagen indeed. We are often on opposite sides here totally same side. I agree with you i have been on the road, i travel down to see my dad i was shocked, at going into Laguardia Airport in middle of the day on a thursday, there was not one Single Person in the delta lounge, there were so few people traveling for business. And this goes to a bigger problem, this is not a government problem this is not a statebystate shutdown problem, you have what a million Oil Field Workers out of work in texas which is open or barry diller telling maria thee reopened offices in new york city, led what 5 or less people are coming back to work, you have this Business Travel out at a standstill you have businesses that cant reopen say in airports, something has to be done, you have nearly 12 Million People in this country, that are still collecting Unemployment Benefits. And Small Business owners coasttocoast that dont know how they are going to keep lights on, through december. All of that has to be addressed, as charles said as all have said that is the thing weve got to live with this austan right . A situation back scene expectations may be if luck end of the year but likely 2021 we have to live with this joe biden said look shut it down we cant keep shutting the economy down do you agree. Wait a second. I dont agree with that last sentence everything you said up to that i do agree with we have to find a way to live with it. If you look at other countries around the world the advanced economies the reasons why they have been able to get their economy turns around quicker did not have kind of plunge that we had in this country, is that they controlled the virus. I always say that is number one rule of virus economics, to fix the economy slow rate of spread of the virus we have to start Wearing Masks it is not about lockdown if i look at Business Travel it is example there is no law forbidding you from travel, people are afraid they dont want to catch the disease that is why not traveling if you look at states where they have opened, they had a very modest comeback. What we have to control rate of spread of this virus. That is just not with all due respect, i got to with all due respect, that talking point was great until two weeks ago. Now you massive spikes in france, uk spain, there is notion that europe somehow was so much smarter than america i dont think i dont buy it anymore the thing we do see arizona 5. 9 unemployment texas 6. 8 unemployment georgia 5. 6 unemployment florida 4. 6 o unemployment virginia 6. 1 unemployment substantially below National Average there is a correlation do being open having a robust economy and many states are seeing declining covid cases. Have i want to jump in here. Before it started can i is a i can i respond to something that go ahead steve moore go ahead. This is the key point blue states are determine the deteriorating economically red states opened up red states booming blue states like new york, my home state illinois connecticut, new jersey, so on are not growing. And that means they have to open up, charles maud a very good point there is zero correlation between lockdowns, in states, and their death rates death rates have been higher in new york, new jersey, connecticut illinois than states that didnt lock down so get damn businesses open. This is not factual if you look at the states like wisconsin, where they loosen up they see explosion of of the hold on hold on, tell me about wisconsin what point are you making austan. In the wisconsin as they have gen to loosen rules they have done so in a way that has not been fully responsible they started with bars, restaurants, and they are now the third highest nefks rate infection rate in the country we need to open economy in a way that slows rate of spread of the virus cant just say everybody go back out again, or we will have things like the president of the United States getting the virus, we have to slow the rate of spread of this virus. Maria agent austan let me ask you a question what do you think is the single most important policy or move that we need to see, to get things moving again in the economy, from your standpoint, if you had to if you could choose anything, what would it be . I mean right now . I would couple a Massive Public Health Effort to get everyone Wearing Masks slow rate of spread of the virus, plus, rescuing relief money so people dont drown while this wave is passing over us. The. Maria all right that sounds like what they are doing, steve moore, i mean we are not obviously, a mask mandate but the health issue is certainly the priority in the agenda; right . Look, are i dont have a problem with masks, i think requiring people to wear masks outdoors is crazy people should wear masks indoors i think a key point speaks to the ideological defy on this issue that is this, that we believe, that what you do to contain the virus, is basically keep people vulnerable healthy and keep them secure but not close of schools not close businesses let people that are not people not sick, dont have preexisting conditions, people not elderly, by the way, donald trump has something to worry about here he is what 70 how would is donald trump 73, 74 years old. Maria . 74. 74. A but my point is we should keep the elderly safe, we should keep people preexisting conditions safe and people overweight that accounts for 96 cases of people who die let other people go upon make their decisions, that would be very positive. Dagen shoot that down. 50 of the country. Dagen again we have a nation, that twothirds of the country is overweight or obese. We have essentially saying steve people keep saying this i have an elderly father 84 years of age, are i am in a lower riv group he is not so what if we, how what do you are you telling people, oh, if you are married to or you live with somebody, who has comorbidity you cant see them cant be in enclosed space with them why it doesnt work i understand protecting people in you nursing going to be clearly didnt happen in new york state and new york this city you cant just say oh if you are at risk stay away from people who might have itte healthier wont die from it not life we live in United States. Maria a hold on why not daying tone protect our elderly, there has to be a way to protect elderly not just talking nursing going to be but try to ensure that young people he will who are not as vulnerable, be to go out back to work dagen you can safely but i am not i am talking about you cant have super spreader events, quite frankly, a bar full of folks is super spreader event if you live with somebody who has who is at risk he has Heart Disease has die tees diabetes if you go to bar catch it might not know you go home pass it on to how are you going to separate all those people that is what i am saying. Maria right, so that then the rally should not be happening and protests should not be happening people should not be protesting do you agree with that austan. I think any time people are not Wearing Masks and the in close proximity high risk events yes if that is protests rallies all those are potentially high risk events, look herman cain died going to a really where they werent Wearing Masks. If you just push everyone to go back to work, and say that is what is good for the economy, you are going to wreak health and you are going to wreck the economy. That is the thing, it is not a tradeoff between health and the economy. Austan why hasnt have a happened in red states the virus has gone through the data. Arizona gone through texas s steve moore what point are you making go ahead. That what is going on right now, it was completelying depressing our economy this is child abuse what is going on in this country generational old people are vulnerable, this is old persons disease we have to keep them safe and we have to keep them secure. The idea of not letting 20, 30, 40 year olds go to work is crazy the idea keeping our schools closed child more likely die of stroke of lightning than coronavirus is crazy hurting our children hurting our young people. Maria can i jump . Going on, across the country this is the debate going on across the country i recognize that today is jobs day, i want to know where the opportunities are, our viewers want to know where opportunities are how can they get a job, a goodpaying job, even in face of this shutdown and pandemic, where is the growth . Who can tell me where growth is i know there is growth in health care i know there is growth in technology, i know there was growth in a lot of sectors like retail Leisure Hospitality really a surprise given that leisure losstality has been shut down anybody want to where growth is we are going warehouse jobs. Yeah, i love that maria the trends warehouse jobs looking absolutely, and. Maria chaerl go ahead. Listen, we so we talk about retail leisure those are two lowest paying job components, you move up ladder into one of those where you have a jobs amazon hiring like crazy retailers saying bed bath beyond, stores have to higher people 3. 5 million new commerce on line a Second Quarter people can move up chain rather work in wrauf a lot more than a Cash Register if a gap competently that is a big place going to continue to grow omni omni channel he lower i asked job set People High School some High School Dropouts should be looking at that i think going to be explosive, and people are going to make a good living. Let me throw this one out Cloud Computing a. I. All the things we talked about all the time Cloud Computing sector off charts growth Cloud Computing Engineering Technology Joanie Courtney you dont have to have a degree this participate in some other job creating opportunities; right . You are right, maria i mean you can get training in order to do those jobs you dont have to have a bachelors degree could take specialized training i have to add to what charles was saying warehouse jobs the warehouse jobs post, up 350 . From february. Precovid, so you can see where this economy is going. Going to ecommerce, warehouse logistics, that is i where the demand is at. We see certainly a demand in those stem fields, technology, of course, it is good to see that retail and travel, leisure jobs are coming back but i do think that people that are out of work in those sectors should think about looking at careers in logistics warehousing there are really great Job Opportunities incredible companies, great environments, to work in, and they can learn from interest skills so there are a lot of great opportunities out there, and there is one other point i want to make and that is the job postings are increasing every month we saw them go up to 6. 6 million job options, what the challenge is and may be we could have had a stronger jobs report, for month of september the challenge is still day care people concerned about health and safety, and there are states still getting extra stimulus people are not o he motivated to come back to work. Right. There are a lot of different dynamics here we are dealing with, with economy on the road to recovery, but we still have a lot of work to do. Maria yeah. I wonder if this period is going to trigger an are tpurt i am going to use this to start my own company. I think that is possibly the case ben bernanke talked about during great droppings a lot of investments that were made that led to boom in 1950s started during great deposition depression i want to come back to sg moore said i think you have to be careful. Maria thank you. Arizona, colorado. Arizona opened up very quickly, twice as many deaths as colorado Unemployment Rates arent very different arizona Unemployment Rate 6 , colorados 6. 7 , arizona paid a price in deaths opening too quickly, two neighbors a cleaner comparison cant just say open up open up the president for crying out loud has coronavirus, i think we have to see trade oversees interest this just not a you are right about that but your colorado example is an example in my case because colorado did not shut down, go back to when we did the report on the governors, we gave the governor of colorado and because he did not lock down the economy, he was the one democrat that did not, you are making the case that im. That is not right. Arizona removed its restrictions. They have a great governor in colorado he did not lock down their economy and they did not have a huge number of jobs but the other point to make, if were going to give a stimulus, give the money to the people, do not give it to the government. Maria we saw job creation in the private sector job losses and i want to thank the allstar panel, thank you so much, dagen, john, Edward Lawrence, great conversation this morning on a day that we had a breaking news of the day, President Trump and the First Lady Melania Trump have tested positive for covid19, the white house doctor saying the couple remained well and they are expecting President Trump to continue carrying out his duties without disruption, the president tweeted about this that we will get through this together, former Vice President joe biden sending his well wishes to the president and the first lady, jill and i sent out thoughts to president upper first lady melania and trump for swift recovery and we will continue to pray for the health and safety of the president and his family right joe biden, that will do it for us, have a great weekend, stay here with fox business, Varney Company picks it up now. Stu taken away. Stuart good morning maria and good morning, everyone. Just after midnight last night the president and the first lady had tested positive for the virus. We will get through this together. The latest bombshell in a constant drama and repercussions are profound. The president is not in the oval office, he i is in quarantine in the white house residence. The doctor says he is doing well but its not clear what symptoms if any the president is