Transcripts For FBC Varney Company 20240712

Wall street expects some kind of stimulus. We have another monday morning rally with plenty of green and the dow jones is closing about a gain of 150, but nasdaq up over 100 points. Big tech up this morning i think pretty much across the board, yes. Its all green. Even though three top executives will be hauled before Congress Next week, both sides of the aisle angry over big tex wealth, power, influence and serious discontent about censoring conservative opinions as some senators subpoenaed jack dorsey concerning twitters suppression of conservative voice service. On the campaign trail absolutely no change. The president continues his rallies hammering his message home in the battleground states and joe biden will hunker down. He appears to have put a lid on the week staying home preparing for thursdays debate. That debate is controversial with the moderator who is supposed to be neutral anything but. Her family has donated tens of thousands of dollars to democratic campaigns and in the past nbcs kristen welter has been an outspoken critic of the president. The antitrust fix is in. How about this one, 1 million passengers went through tsa checkpoints sunday, the first time over a million cents march. Varney co. Is about to begin. Stuart not quite sure, we should put that on the screen so that i can know there it is new attitude i dont need a new attitude. Ive a good one already. President trump rallying voters in nevada sunday night. I was not feeling good and then they gave me this regeneron, and antibody, transfusion as they say like one hour and the next day i felt like superman work i got up and said what the hell is going on. [cheers and applause] i felt like superman or could tell governor to open up. Normal life is all we want, we want normal life. [cheers and applause] we want to be where we were seven months ago. Stuart i dont know where he gets it from. Its going to be another busy week of campaigning for the president. To rallies in arizona later today. More in pennsylvania and North Carolina later in the week culminating with the final president ial debate on thursday. As we said, joe biden has put a lid on the week, saving his energy no doubt for that thursday debate. Lets get the latest on the stimulus. Maybe susan can give us clarity. Susan we are less than 48 hours to go to get a deal according to House Speaker nancy pelosi if you wanted package before election day. She said shes optimistic after speaking for over an hour with Steve Mnuchin saturday. Mark meadows this morning said he and Steve Mnuchin spoke twice yesterday on a stimulus plan. I think that is encouraging. Amounts haggled over democrats won a chilean and President Trump 1. 8 trillion. Lindsey graham this weekend said he could vote for something bigger than 1. 8 trillion so that is good but we have until the end of tuesday to come up with on agreement otherwise talks will continue, but its unlikely we will have a deal before the election. With him in a winwin for both sides to help americans put food on the table . Stuart thats the whole point, who gets the credit i mean speaker polo z would like to take credit and so with the president and republicans, but i am frustrated in that you never get anything firm. Its always negotiating, negotiating and even if you get something now, its not going to affect the economy for some time, i dont think, certainly not in the next couple of weeks. Susan think its a Platform Point for the vote. Stuart i think you are correct. Lets see if we can get clarity someone else. Keith, are we up today especially nasdaq is up, are we up because there is some thought we may get stimulus . Absolutely, stuart. Traders, investors, money movers are talking about this and they cant afford not to take the bet we will get something so like it or not pelosi, Steve Mnuchin, who cares but i think many will come onto the table and thats what wall street decided today. Stuart whether it comes from congress, you definitely will get enormous amounts of money put out by the Federal Reserve, i mean, they are trading like crazy and will continue to do so but all day putting a floor on the market . I think they are. They have never meant a Printing Press they didnt like my think that will be good for the market. Ultimately there will be you know what to pay when the chickens come home to roost two decades from now but for now it helps people put food on the table and as soon as we can get the money out it will be good. Stuart hold on a second, keith. Netflix and tesla are two of the very big names that will report their earnings this week break it down. We have it heavy earnings week ahead, cocacola, American Airlines, southwest some of the 80, fortune 500 companies that will report with tech tesla a big upgrade over the weekend calling tesla a 500 stock, but theres a lot to prove especially profitability after capping off the first full year of making money. For netflix, its all about subscribers. How many new customers signed up after a record first half of the year ended netflix pretty conservative in their guidance. They only added to and have million, expect only to have million but most analysts say that will be easy to beat. Pretty good earnings season despite the high bar for some. Their hands been a high bar in his early, only 10 has reported but so far most of those 10 has been by 25 and thats way above the 10 year average so companies are recovering after covid. Stuart thats another reason for the market to expect strong profits because we have already seen that. I went to go back to keith for second and talk about tesla. You wrote something that i dont understand. He said tesla, its not about the cars but about the redistribution of electricity. What is that about . Heres what i think is going on. The game has never been about cars or batteries. Its about rewiring quite literally one of the most comes essential components of our life, electricity. think the game is to distribute power making tesla compelling. It is so necessary to our lives, the fact that Utility Companies are whining that they now have to get involved tells me elon musk is again two steps ahead. Stuart i have really turned around on tesla and elon musk. Keith, thank you. Next up lets talk about doctor Anthony Fauci. He said this about the president s covid diagnosis, roll a tape. Were you surprised President Trump got sick absolutely not. I was worried he was going to get sick when i saw him in a completely precarious situation of crowded no separation between people and almost no one wearing a mask. Thats got to be a problem and it sure enough it turned out to be a super spreader event. Stuart doctor siegel is with us, the gentleman on the righthand side of the screen. Doctor Anthony Fauci said he was not surprised. Were you . I was not at that event and you know if there is no virus in the crowd you wont spread it. I had to say i spent time in the white house and i saw plenty of separation and masks. They handed out masks to us when we came in and everyone got tested. I do think that it makes total sense to have distancing and even the masks, but i think we can also be overly afraid as a result as everyone points figures and i dont think thats helpful from a Public Health point of view. Stuart i got it. In europe they have a spike in cases, germany, france, italy with italy imposing new curfew on public gatherings. I dont think you believe that is the right tactic, re locking down even if it is just hot spots. You dont think thats the right tactic, do you . Im usually against that. I wrote a book just out and let me tell you its using politics of fear to control the population we are talking about 11000 new cases in italy yesterday, but only 69 deaths. The death rate is not going up, hospitalization rate is not going up and they are using it based on case numbers only, mild cases and scaring everyone. Its one thing to say where he mask, but when you shut down businesses imposing curfews, that will cause not only panic but tremendous Economic Cost and its the politics of fear im huge mistake. Stuart doctor siegel, thank you. Look at futures again, a monday morning rally. I have been saying this for a long time up 150 on the dow jones, 110 on the nasdaq. Eu may remember this mysterious woman sitting behind the president during his townhall in miami. She got a lot of attention. How did she even get into the debate and sit in the front . She joins me next hour and she will tell us how she became a term supporter and what happened to her that night. President trump and joe biden go headtohead on the final debate thursday with new questions about the debate moderator and her reported ties to the democrat party. We will tell you all about it. I have to tell you this, shes not neutral. When i was in high school, this was the theater i came to quite often. The support weve had over the last few months has been amazing. I have a soft spot for local places. Its not just a work environment. Everyone here is family. Gonna go ahead and support him, get my hair cut, leave a big tip. If we focus on our local communities, we can find a way to get through this together. Thank you. If you are ready to open your heart and your home, check us out. Get out and about and support our local community. We thought for sure that we were done. And this town said not today. 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. So youre a small bor a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Stuart well, well, well, october 19. I bet susan doesnt remember what this is an anniversary of. Susan black monday, 1987, still the single worst today for the stock market dow jones lost nearly a quarter of its value in one single session, 508point drop, which today trading at much higher levels and we are so used to the 1000point swings, but back then it was a lot. Panicking thinking it was 1929 all over again it took about two years to recover compared to a few months this year to recover from the covid. We also have more bullish news. Hedge funds have pulled back. We had a hedge bond buying and rushing to buy contracts betting big tech stocks would fall, the most in 13 years last week, but now closing out of the contracts meaning tech stocks should go up at least today. I see apple, amazon up 1 at the open. Stuart this is Short Covering which means stocks go up because you have to buy a them and they go out. Got that. Days away from the final debate. President ial debate this thursday through debate topics as laid out by the moderator the virus, race, Climate Change and national security. What about the economy or hunter biden . Not on this list and nbc White House Correspondent Kristen Welker is the moderator and her family has longstanding ties to the democratic party. Mike huckabee is with us. Governor, bearing in mind its likely to be a hostile moderator, what advice would you get to the president for this debate . I think it has to ignore a lot of the stupid questions he will be asked to make take his message to the people. Is high time we scuttled this debate over mission nonsense. Its ridiculous. Heres how it ought to work and im speaking from some persons perspective that has been on the debate stage, get rid of the moderator. Have a timekeeper took each candidate gets two minutes Opening Statements and then each has alternating options to speak with no clock on them other than they have a total amount of time each whether its 43 minutes or whatever and when they use that time up they are done. If they enter at the other candidate while hes speaking, their clock goes on and its against their time. At the end of their allotted time, exactly equal to the other they have two minutes to close at and theres no moderator took a day pick the topics, not some biased socalled journalist that has no business being on the stage with two people who went through the process and became their partys nominee. You can fix it that way and you have a debate. Stuart on that note you said socalled journalist, want to show our audience some questions that Kristen Welker has asked this administration. Bear with us, governor. Rolled tape. Giving russian president Vladimir Putin the upper hand . Doctor if he thought she said the lag in testing was in fact a failing. Do you take responsibility . In this tweet he said out he was not condoning violence. Should and the president have facts before he tweets being the president of the United States . Stuart governor, your response to that . I think she will walk in with a hammer in her left hand for President Trump and a bottle of oil in her right hand for joe biden and she will give him a back rub the entire evening. Thats what we are in for. Its ridiculous and it needs to stop. Stuart the bias is so obvious and its all across mainstream media. Its universal. Hate trump and biden can do no wrong. Ive never seen anything like it in 45 years of america. Last 45 seconds to use the mac its time to get rid of the Debate Commission and take this with a grain of salt, but recognize donald trump has an opportunity to show the American People that he can talk about the issues that matter to them, not to a moderator. Stuart well said, governor huckabee, thank you for joining us. See you soon, i hope. Thank you. Stuart ibm will report their earnings after the bell this afternoon. What are we looking for . Susan spinning off its older infrastructure while keeping its Cloud Business intact. Ibm profit sales will likely be down compared to last year so clients delayed projects and reduced business spending. Another test is the red hat, how much did that boost ibm cloud footprint . They are looking at the mic it market value worth 100 million plus pure cloud play, i didnt test you on what hybrid cloud is did i . Stuart im glad you didnt. I have no idea what it is. You mentioned hybrid cloud. Susan yes. I would say its Slower Growth and amazon is more dominant in pure cloud play. Stuart i would be interested to see what they say on the call because i want to know what theyre looking for the future if they can discern anything. Susan i think they are just trying to stay relevant at this point. Im not saying it personally. Stuart 5 of amazon. Susan yes. Stuart going up this morning, monday morning rally especially the nasdaq, 120 points higher, 11019. Thats where we are back to, thats a rally. Back at a moment Metastatic Breast Cancer is relentless, but im relentless too. Because every day matters. And having more of them is possible with verzenio, the only one of its kind proven to help you live significantly longer when taken with fulvestrant, regardless of menopausal status. And its the only one of its kind you can take every day. Verzenio fulvestrant is approved for women with hr , her2 Metastatic Breast Cancer whose disease has progressed after hormonal treatment. Diarrhea is common, may be severe, or cause dehydration or infection. At first sign of diarrhea, call your doctor, start an antidiarrheal, and drink fluids. Before taking verzenio, tell your doctor if you have fever, chills, or other signs of infection. Verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death. Lifethreatening inflammation of the lungs can occur. Talk to your doctor if you have new or worsening trouble breathing, cough, or chest pain. Serious liver problems can happen. Symptoms include tiredness, appetite loss, stomach pain, and bleeding or bruising. Blood clots that can lead to death have occurred. Tell your doctor if you have pain or swelling in your arms or legs, shortness of breath, chest pain and rapid breathing or heart rate, or if you are pregnant or nursing. Every day matters. And i want more of them. Ask your doctor about everyday verzenio. Stuart quickly checking the markets as we go up with opening bell in about three and half minutes and here is ed chrystal. Ed, i know what you are saying. You are saying this bull market continues into 2021. What is that based on . Its based on a mosaic of information, but whats changed in the last couple weeks gets down to the technical indicators, the price action of the market and there are two things in particular. One, over the last few weeks you have gotten a shortterm what we call a thrust indicator kind of a funny term and that means a lot of stocks moved up together. We had that coming up march lows in another signal in the last couple of weeks secondly, our longerterm technical indicators for example stocks above their 200 day average. Is now close to 75 so in the confirmation more and more stocks are longterm uptrends at the same time we have that a lot of stocks are moving up shortterm so thats a powerful combination. Stuart you are one of those guys that studies the charts, thats what you do. You are a Technical Analyst looking you say the market is telling you from the charts, so i guess you dont care if joe biden wins and the democrats retake the senate. You dont care about that . We do look at all of it, but if you want to take a whole store how political analysis, usually its more of a sentiment gauge than a longterm trend, so if for example after the Republican Party has lost the white house, the yearend rally tends to be weaker than say if a republican were to retain the white house, but a lot of that is reversed in the next year. What it really means is that maybe if there are fears over one Party Winning and doing something that may not work the checks and balances usually work out and do so even if republicans are in the minority in the senate, they could potentially block more progressive policies that a Biden Administration may try to push through. Stuart are your charge as your Technical Analysis is it telling you in the next two months november and december will hit new highs on the major indicators . Yes, using the Historical Data and analysis its adjust the snp should have a new high by year end. Stuart fascinating. Ed, thank you for joining us. We dont have many chart guys on the show, but you may be the first in several years, but you made a lot about cents. You made me understand it. Well done, young man. Code to see you again soon. If youre charts dont work you will really be back again to answer for yourself. Susan he didnt ask about the head and shoulder formation on these charts. I was listening in and i think there is room for disappointment. Its rallying the stock market after a dismal september and people are putting vaccine hopes front and center as opposed to say that election. We were probably down the worst september in over a decade because people were concerned about a contested election, but if we have a vaccine approved by the end of the year i think it will help rally. Stuart what worries me is how many people will take the vaccine once its approved. What portion of the population will take it voluntarily . Susan there is room for disappointment for sure. Stuart the bell is ringing and in three, two, one it will be 9 30 a. M. And we will get the market opened for trading. Right from the start we are in the green. And a lot of stocks are not yet open your cure they go. Up 80 points the start. 28686 is where you are, fractional gain of about a quarter of a percent. S p 500 given the percentage gain of about a third so thats a bit better. Nasdaq guaranteed a strong game. Here you go, up one half of 1 . Solid gain their. Big tech is doing well in the dow jones up exactly 100 points. Show me the vaccine makers, please. There is optimism about the vaccine and approval of it. Wait a minute, you have news on center jean. Susan they make a rapid tests based on a molecular test and the fda has signed off on emergency use of the new rapid test for asymptomatic individuals so those that are not coughing or sneezing, you take the rapid test of you get rapid results wishes him for it and we have the stock up 10 in premarket. Stuart the wire service says realtime. That means you take the test and you get the results right now. Susan rapid test meaning you get the results right away which is important widespread testing to improve the containment of the covid. Stuart that really opens the door. Susan for asymptomatic i think is the important part. Stuart stock is up 8 . Another 3 as we were talking. Big tech ceo is being called in front of the senate again i think next week. Susan no, thats the house hearing next week. Of the senate meantime is looking for their hour hearing to call up jack dorsey and Mark Zuckerberg after the New York Post article on hunter biden. Twitter, facebook limited the viewing and sharing the article saying it was subject to Fact Checking and broke platform renewals and thats why they werent allowing it on the platform. I should note google allowed it to be searched and if you typed in hunter biden New York Post you had some of the popular search auto fills complete it for, but still the Republicancontrolled Senate and Commerce Committee are trying to get in jack dorsey, Mark Zuckerberg and the hearing they say that big tech should be afforded the shield and protections under section 230 from 1996 and whether the federal shield has outlived its usefulness in todays digital age. Stuart facebook is down 2 cents susan for now. Stuart pretty high levels. I agree for now because its a longrunning story. Will they lay a glove on them . Susan it seems like the answer is no right now after the antitrust report as well. Stuart cvs announcing big big hiring plans. They are preparing for more covid19 cases. How many people are they hiring, lauren . Lauren 15000, stuart to deal with the mix of seasonal flu and covid19 so the bulk of the hires pharmacy technicians to dispense medications, give tests and eventually they can give the Covid Vaccine if federal officials allow it to be administered at a pharmacy. As for the regular flu shot, cvs is expecting a jump this year and expect to administer 18 million, up from 11 million last year because more people looking to protect themselves this winter and symptoms are similar between the flu and regular covid. I had taken my kids already to the doctor to get well eventually a covid test because symptoms are similar and Everyone Wants to be safe and all of that, so we expect more flu shots and a lot more worries this year in general. Stuart for sure. I dont think you can get this up for me quickly, the stock prices of zoom. Im pretty sure they are up again today moving beyond 500 a share. Xoom is up this morning zoom. Dow up 170, nasdaq 118. This is a monday morning rally. Discrepancy between what i see in the dow jones left side of the screen, bottom right, lets go with top left white only nice again. Barclays has given an upgrade. I think its probably another one. C2 it is worth the 10. 75 and over get last week it was worth 1500 a credit so berkeley 1075. Earnings are coming wednesday with chipotle doing well regardless of who wins the election because people still want to eat and chipotle is doing well on mobile ordering. The company benefiting from commodity deflation beef prices are also coming down after secondquarter spike. Stuart is a barclays that think they are going to 1500 . Susan barclays is 1075. Stuart why do you say 1075 . An upgrade of what they said before over 900. I think its a bullish sentiment. Stuart 1347 now and they upgraded to 1075 or whatever. Susan means they changed their view. Thats a positive. Stuart starbucks today got an upgrade. Tell me starbucks, 89 at share. Susan ninety force 94 according to barclays. Wells fargo upgrading to make a high of 98 because mobile ordering and restaurants reopening after covid. That should be positive for starbucks and coffee drinkers around the world. Stuart including me. Check the price of oil. I think its around 40 bucks a barrel, 40. 94. Word of another highprofile buyout in the industry . Another deal significantly consolidation, fully underway, tops talk by Chevron Noble Energy deal. Its an all Stock Transaction valued at 9. 7 billion working out to a 15 premium for shareholders. It holds one of the largest footprints in the permian delaware basin, in other words valuable but comes at a time when the american industry as we know is trying to survive with these low oil prices come a week demanding in the middle of a pandemic shell operators have posted big losses and have struggled to raise new capital to restructure their debt. On kos. Ellipsis the transaction will improve its Competitive Position , but i think we can expect more consolidation moving forward. Stuart absolutely. Consolidate. Check zoom. Its up nicely, 3 higher, 18 hider, 577 is the price. I believe that means zoom is up 700 this year, phenomenal xoom is now the company which has given its name to a verb. Couple weeks away from the election. 15 days. Some of hollywoods biggest names are forgetting out in hopes to push joe biden past the finish line. They want him to win. We will tell you about the starstudded pro biden lineup and despite many negative headline swirling around the biden family, a reporter decided to ask of this hardhitting question. Watch this. One vanilla and one chocolate, but i wanted to get a black and white stuart the media finally gets a chance to ask joe biden questions and what do they ask, what flavor, mr. Vice president. I have never seen such softball coverage. 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You get all this for as low as a zero dollar monthly plan premium in many areas, and your doctor and hospital may already be a part of humanas large network. If you want the facts, call right now for the free decision guide from humana. There is no obligation, so call the number on your screen right now to see if your doctor is in our network, to find out if you can save on your prescriptions, and to get our free decision guide. Humana a more human way to healthcare. Stuart how to characterize the rally . I would call it solid with the nasdaq up 92. I like this one, more people shopping online for the holidays means more packages to be delivered, obviously. Obvious question, ashley, are the big shippers able to handle it all . Ashley yes, but it may take a few more days than you would like, a sign of the time with so many packages and so many deliverers. Fedex and ups says most of the capacity as a spoken for and many smaller carriers arent taking new customers and help next year, so as for the u. S. Postal service, if you want to go that route its network as we know is already stretched. Delivery Service Across the board has been operating near Maximum Capacity for months and we know why because consumers are staying home avoiding stores and shopping online but according to one software provider, the capacity shortfall could average as much as 7 million packages a day between thanksgiving and christmas. Estimates are for 79. 1 million parcels of a during that period. 86. 3 million packages looking for delivery, so 7 million is no delivery retailers are encouraging consumers to shop early for the holidays and when possible order online and pick up in the store , if not your parcels could take longer to arrive. Stuart that is why amazon did their prime at days as early as they did, last week to get in their early to avoid the delivery crush. Amazon dropped again thank you. Lets look at the markets. Up across the board, so again. Market watcher dennis is back with us this monday morning. In my opinion and i think you share this, dennis, this rally is all about a central bank in the Federal Reserve in particular just printing and printing and printing. Thats behind the whole ball of wax is . I dont think theres any question about that. Every central bank of consequence continues to be expansionary, not just the fed. Look at the bank of canada in the past several months, far more expansionary than the Federal Reserve bank. Acb has been expansionary, bank of china expansionary, reserve bank of russia expansionary, australias reserve bank, consistent over the course of the past several years and shall continue to be. I see no reason to think that will change anytime soon and as long as it continues, im more impressed by who the president of the Central Banks are rather than the residents of the white house in the national capital. Thats far more important and has been constant and is constant and out and shall be constant in the future. Stock markets want to go higher in that environment and on september 29, is a you a note saying i turned bullish and since then i have remained consistent and see no reason to change. Stuart does that mean the Federal Reserve is putting a four on the wall street stock prices . So far thats what you can say. On measure they will tell you thats what theyve done im a but thats whats happened and as long as they continue to expand their supply reserves and that adjusted Monetary Base moves from the lower left to the upper right making new highs and again, its not just the fed, its the bank of canada, across the world as long as that consistent and i see no reason to think it will change, yes there is a floor on the stock prices. Hard to believe. Again, the monetary authorities of the world have been expansionary and continue to remain so and theres no reason for them to change. Stuart one quick one, dennis. Central bank that keeps printing, federal bank prints by the chilean, i got it. Supposed joe biden went the white house and democrats when the senate, would the Federal Reserve to be able to still put a floor under the market in those political circumstances . Its open to debate, but as long as the Monetary Authority remains as they have been and theres no changes in the population, no changes in the regional Federal Reserve bank, no change at the head of the fed which i dont think there will be because i think mr. Biden with supportive of mr. Powell and see no reason to think that will change although lyle borate or may be a likely successor if there were a change and she would even be more expansive so i see no reason to see that it will change. Hard to believe. If you had asked me a year ago fsoc prices would be as high as they are i would say no, but given the fiscal authorities that are expansionary yet to think stock prices have to want to go higher steel and thats what you get when you throw trillions around. A trillion here, he chilean their and sometime you have real money. Stuart someone said that about billions in the 70s. Actually it was about millions. Said a million here and a millionaire and pretty soon youre talking about real money and now, we are talking about millions of millions. Stuart and after trillions we go to quadrille yens. All good stuff. We will see later. Average credit scores, i like this. They have gone up. Susan the average credit score stood at 711 and july, up from 708 and 706 a year earlier. That is the highest score, average score since they began tracking and 2005 so average a score held the study through midoctober so far and it continues at those levels 30 thats encouraging and this increase largely thanks to the big stimulus from the government extending Unemployment Benefits helping borrowers keep track of their payments. Stuart from 2010 average was about 685 and now its a 711. Susan thats a good rounded number. Stuart joe biden has finally asked about he was asked about reports of his sons overseas business dealings and heres how he coped with that. Roll tape. I know you would ask. I have no response. Another smear campaign. Right up your alley. Stuart got a little testy with that cbs reporter. Meanwhile, President Trump is making Campaign Stops in two states today. So far, joe biden has nothing planned for this day and we are 15 days before the election. We will be back. Tums versus mozzarella stick bell rings when heartburn hits fight back fast. With tums chewy bites. Beat heartburn fast tums chewy bites stuart we know that airlines are preparing for a long drought in travel volume due to the pandemic, but look at this. Tsa screen door a million passengers on sunday, first time they have screened over a million since midmarch. Its it down 60 compared to last year, but there are over a million for the First Time Since march. Jeff hoffman is so with us. On the general question, jeff. If you look at that travel, leisure and entertainment industries, i dont think they will return to anything like normal and tell 2022 or 2023. Am i overly pessimistic . I dont think you are. Scott kirby that united ceo just last week said he thinks 2024 before you get an airline recovery. They are shelving their bigger planes they are changing routes, replanning routes. I think the whole travel industry is bracing for a longer come back then people expected, so i agree with you. Stuart in which case the whole industry has to shrink. Theres no way around it; right . No, and its shrinking anyway, i mean, tens thousands of layoffs in the airline and Hotel Industry since the stimulus package ended october 1, and they were allowed to lay off. We dont have another bailout package on the table so they will continue to lay people off. Theres a good side to that, we are improving efficiency. Airlines in the travel industry figured out how to do more with less, so Airline Ticket prices are down 25 this last month, which isnt great for them, but good for consumers. Everyone is slimming down by necessity. Stuart ed jeff, im sorry to keep this short. We have a busy news day and we always appreciate you being with us. Still to come, brad blank then, Stephen Moore, all on the show coming up today. Now, in all previous president ial elections media outlet took sides, i know that, but i have to say i have never seen such onesided coverage as we are seeing it now. I will tell you all about it, just how bad it is in my opinion, that next. When i was in high school, this was the theater i came to quite often. Has been amazing. I have a soft spot for local places. Its not just a work environment. Everyone here is family. Gonna go ahead and support him, get my hair cut, leave a big tip. If we focus on our local communities, we can find a way to get through this together. Thank you. If you are ready to open your heart and your home, check us out. Get out and about and support our local community. We thought for sure that we were done. And this town said not today. Noand if youre troubledan a liby falls and bleeds,ners. 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. Stuart all right. It is 10 00 in new york city. Weve got i will call it a solid rally especially for the nasdaq up 147. Dow, we lost much of the gain there. How about big tech . Those stocks, investors dont seem to be worried about the executives of these Big Tech Companies facing a grilling on capitol hill next week. Theyre still up, except google turned ever so slightly south. Microsofts gain trimmed to 48 cents, got it. Big reporting week, netflix, tesla, verizon, American Airlines all reporting this week. Well see how profits work out because that is the baseline for stock prices. Numbers on Homebuilder Sentiment. Lauren, what does it look like . Lauren record high of 85 tore the month of october. The only second time in history this index has been above 80. December was the other time. Traffic, interest, rates, all low all good. The challenge for builders is to build ability someone can afford and you have a shortage of cheap labor and cheap lumber. Theyre looking for ways to bridge this gap where sales are far outpacing starts. Almost like builders cant keep up especially when it comes to affordability. Stuart fortunately we have the guy who runs the Homebuilders Association right now. His name is jerry howard. Come on in, jerry. Youre the president of the National Association of homebuilders. The Sentiment Index is at and all time high. This seems like really good times for you guys . It is absolutely tremendous, stuart. We couldnt be more excited. Seems with everything that is going on in the world, pandemics, civil unrest, higher taxes in urban areas, that the concept of home, i dont want to say it is taking on a new meaning. I want to say it is reverting to what the past tradition has been in america. People are buying homes. Stuart but you cant build them fast enough, can you . No, we really cant. Were having a hard time. Were still having labor shortages. Were still having high material costs although lumber prices have come down some. I want to thank our friends in the Timber Industry for that. We still need to get them down. In some markets it is almost impossible to build. I was talking to builders in wisconsin, building a home under 250,000 dollars, firsttime home it is very difficult. We need to do something about labor costs and availability. Stuart is there a political angle as you move forward . Suppose joe biden won, the senate goes democrat. Would you still have a really rosy outlook for homebuilders, given the politics for that development . For example, in the them per industry there would be more restrictions on the domestic harvests. On other hand there might be a more rapid resolution to the canadian tariff agreement. Overhaul in that kind of environment we look for increase in the Regulatory Burden on builders. That is not what we need right now. Stuart jerry howard, thanks for being with us on a recordsetting day. Appreciate it. Glad youre here for it. Jerry howard, thank you very much. That number has no impact on the market. Were still up. The gain for the dow is limited. Still a nice gain for the nasdaq. Up 37. Now this. I have covered every president ial election since 1976 when jimmy carter beat gerald ford. In every race Media Outlets took sides but i have never seen such onesided coverage as were seeing now. In todays media world, joe biden can do no wrong. Doesnt matter what he does or doesnt do. He gets favorable coverage. It is almost universable. Virtually the entire press corporation wants joe biden to win. Read the newspapers. Watch evening news on tv. Same story. Biden good, trump bad. Now it is clear social media has joined on the antitrump bandwagon. They are actively suppressing the news. If you tried to share the revelations about Hunter Bidens money making activities you were blocked. Top executives at facebook and twitter joined the biden transition team. Six out of 10 get their news out of social media, that deck is stacked. There was a telling incident on saturday which shows you where the media is coming from. The bidens ventured out of their house to get ice cream. It was an opportunity for the media to ask questions, serious questions, but no, instead, there was this, roll tape. Got one vanilla, one chocolate. What we call black and white. Well move it around with it. Stuart thats it. Thats it. Which flavor, mr. Vice president. Thats it. Can you believe it . Next, the debate on thursday. Deal with that, moderated by nbccs Kristen Welker. She is a democrat. Her father gave 20,000 to obamas campaign. She chosen debate subjects that pander entirely to biden n all the president ial elections i have covered, there has been some divergence of opinion in the media. Today is different. The American People are being saturated with antitrump bias. Social media sensors trump supporters, print and broadcast news riddled with probiden bias. The debates are fixed fights. This is what happens when the elites showed their hatred of President Trump, a monopoly of bias. Just not right. It is adam schiff, the chairman of the house intelligence committee, who as you pointed out on friday said that the Intelligence Community believes that Hunter Bidens laptop and the emails on it are part of some russian disinformation campaign. Let me be clear, the Intelligence Community doesnt believe that, that there is no intelligence that supports that. Stuart that was the director of national intelligence, John Ratcliffe talking to maria earlier saying the release of Hunter Bidens emails and information on his laptop are not, repeat, are not russian disinformation efforts. Brad blakeman is with us. Brad, im interpreting that statement as meaning, it wasnt the russians doing it. Those emails are real and they are valid. Its not the concoction of moscow secret service or anything else. Theyre real. What is the implications of that, brad . Well it depends. It depends whether or not the president is able to break through and his campaign with the facts and evidence that are clear and convincing there is probable cause to believe that hunter biden had a paytoplay scheme complicit with his father in order to enrich themselves. He is a prodigal son. Joe biden just sloughs it off, my son has had problems, he is back on his feet. We should feel sorry for him. No, we should not. When you get more power you use it in ways that are inclined not on the up and up. Biden spent 47 years in government. All of sudden he is a wealthy man. He has capitalized on his government service. His son apparently has too. This is real. Of course democrats want us to believe its a russian hoax. Weve been down that road before. We found that dog dont hunt. Democrats who created the russian hoax. Really up to the campaign to keep pounding away because we know that the media will slough it off. Stuart it will be difficult to get that word out there because as you say the media is sloughing it off. I believe free speech is being suppressed in this country. There is no real debate. The media is so one sided with the trump hatred, the truth, it is the truth. It doesnt get a lookin. I dont know what you can do about this with two weeks to go to the election . My faith is in the American People. They tried this in 2016. They were convinced the media and the Clinton Campaign she would be coronated. That donald trump didnt have a chance. It didnt work that time. I dont think it will work this time. You can fool some of the people some time but not enough of people this time. Stuart i see the polls, if theyre tightening at all, it is not very much. What are the internal polls telling you in the battleground states . In the Conference Calls ive been a party too, they are showing this is tightening race. Just like 2016 this election will turn on where they need to get the votes. It is about getting out the vote. Motivating people to vote in person. If you havent requested an absentee ballot yourselves, get the vote in person. Voting by mail is unreliable and it invites fraud. I will tell you there is no excitement for joe biden. There is none. You can hide in the basement. I dont believe a lot of these polls. I believe just as weve seen in 2016, the silent majority will come out and they will vote for donald trump in the areas he needs the vote. If it was up to the elites they hate the Electoral College because they cant run the country from new york, illinois and california. Stuart 15 days to the election. Well find out then. Brad, thank you very much indeed. Youre a busy man. Thank you for taking time to be with us. Pleasure. Stuart if you notice, righthand corner of your screen, were turning south, down 45 points. S p is coming down too. A shift in the open h market in the opening bell. Susan . Susan im trying to figure out why. A record high for Homebuilder Sentiment so the economy continues to recover. We started off this morning after the end of that threeday losing streak on friday. There are positives to take away as we started off on monday. For instance, stimulus hopes, Speaker Pelosi giving a 48 hour deadline to the end of tuesday to get some deal. Some of the rhetoric and voicing says theyre optimistic a deal might go through. Chinas economy grows once again. When china grows, that helps the rest of the world from the Worlds Largest economy f it expands the world grows with it. If we bring up big tech names, apple and amazon. Last week hedge funds had the biggest short position and buying futures contracts in the fastest rate more than a decade. Closing off some of those positions. A little more optimistic to start off this morning and new week. Positive news on apple with one of the top apple analysts this, is one of the top stories so far circulating from tf securities, he said apple sold more iphone 12 models in the first 24 hours preorders last week, than iphone 11 models that shipped last year. As you know history matters. Go back 33 years. Single worst day in stock market history, took place this day, 1987, october 19th. Down 058 points. May not some like much but you were covering that day. What was it like. Stuart it was difficult. You couldnt use words, of pushing market farther down. It would be fear mongering. My colleague lou dobbs, he was the first word to say the market crashed. You couldnt have used that word during the day. It would have been wrong. Susan, thank you. As susan said, chinas economy grew 4. 9 in the Third Quarter that is the annualized rate. What does that mean for us . Are they doing better than we are . Im going to ask economist Stephen Moore just ahead. 800 residents in compton, california, now guaranteed an income for two years. There is a new Pilot Program there. Im going to ask black voices for trump guy, paris dennard, what he makes of that. Plus tiktok joining youtube in cracking down on content they call conspiracy theories. The ceo of parler here to comment on that. 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. Stuart its not what hunter biden did. It is what joe biden did not do. Hunter took millions from Foreign Countries while his father was vice president. This is not in doubt. It is all in the senate report, including the 3 1 2 Million Dollars he took from the wife of a former mayor of moscow. Why did joe biden do nothing . Its obvious influence peddling. It is obvious paytoplay. If it were trumps family doing this there would be hell to pay. Instead the news is suppressed. It is not covered. All to shield the former vice president. Do we want him to handle china policy as president when his son takes millions from china . Just saying. Check a couple of things on the market this morning to change the subject, why dont we. Zoom, were back in the green for the three major inindicators. Look at zoom up another percent. What, millenials dont invest in this . Susan zoom was only 49th widest held stock that could be encouraging with institutionals and big money buy into it. Out of the 25 most popular stocks, moderna, peloton ranked top 25 on robin hood. Stuart can we have a, there you go, theyre up 12 now. They have a rapid test. What is it again . Susan its a molecular test, rapid test that, it is for atomtic. Stuart atomtic, you dont have the symptoms. You get the test. You get a rapid result. The stock is up 12 . Lets talk youtube, because they have announced a sweeping new policy to do with conspiracy theories. Tiktok also dealing with conspiracy theories. John matz back with us. Ceo of parlor of a social network which does not censor anybody to the best of my knowledge. You have done some digging into this new policy from youtube. Tell me what it is all apout . Well it is interesting because youtube is normally a reactionary entity. They dont normally come out to create the new policies. They normally wait for facebook and twitter to kind of give them the nod. So this is really a fascinating new development for them. You know the way i described it, it seems youtube likes to purge free thinking this is not, this is not good in a time during an election where we need people to actually have more ideas out there. I personally think that this has a lot to do with politics right now, and leadup to the election. Possibly, possibly a lot to do with mailin ballots and questioning, like they like to say questioning the legitimacy of the election, i think of censorship from facebook or twitter as very political because it seems to me to be heavily censorship of conservative opinion or protrump opinion. Is this political . I mean if youtube is cracking down on conspiracy theories, is that a political move . Well Conspiracy Theory is just another word for things that they dont like or that they find unfavorable. In my opinion this could be considered political as well. Just interesting to see them make the leap of creating a policy that facebook or youtube, or twitter hasnt yet. This is a new thing for them, right . Theyre normally reactionary. This is fascinating. Stuart youve been on the program frequently, tell me again how does parlor deal with conspiracy theories or conservative opinion . Well we believe need to have access to more information and that, you know you cant believe everything you read on the internet. You will not have a source of truth. We want people to have debate. They can have conversations. There is open comments sections for people to say that i think is wrong. They can fact check each other, naturally, organically, as a community, by having discussions. That is way it should happen. Having a authoritative source telling you what is true, not true this, is a Conspiracy Theory or otherwise, that is not really kind of in the american spirit. So thats why what we do is we want people to have more conversations. We want more transparency regarding the election, not less. More information. Stuart are number of daily users on your site, is it going up dramatically . Can you give as you number and a trend here . It is going up a lot every day. I dont know what number i gave last time we spoke, but we are at the 4. 3 million users, now. We keep going up. Over time facebook, twitter, places like youtube, make decisions authoritative try to force peoples viewpoints, people keep coming. Not because theyre getting banned. People want access to more information. They want to know what is really going on. They dont want to be siloed what i consider one partisan viewpoint. So having access to more information is critical. Stuart ceo john matz of parler, we wish you the bet. Thanks, thank you, john. Actress Kirstie Alley causing quite a stir on social media. Saying she would vote for trump. Tell me more, lauren. Susan lauren you cant do that she went on the defense in social media, by saying i voted for trump four years ago, im doing so this year. Here is why. He is not a politician because he gets things done quickly. The backlash, stuart, was so swift, so harsh she responded with this. Quote. Im not allowed to have a viewpoint without being called really nasty names what im going to suppose im really nasty people. But, hollywood giving joe biden a starstudded push last 15 days. Almost a celebrity event daily. Tomorrow there are actually three. Friday there is joe biden fundraiser with a performance by the cast of hamilton. Stars bring awareness and energy, but they do not always bring votes. We saw that in 2016 with hillary clinton. Look, right now it is questionable if celebrities can change any undecided voters mind. Joe biden calls a lid very early on many days, but he is going to have celebrities i guess do the campaigning for him. Stuart that is 20 odd Million People voted already i think. Wont be subject to this input at all. Lauren, thank you. Speaking of social media censorship, twitter also censored top medical advisor to the president. That would be dr. Scott atlas. Ash be they removed one of his tweets. What did he say . Ashley they did. They removed one of the tweets questioning the use of face coverings spread of coronavirus. His tweet read, masks work . No. He used areas where cases exploded even with mask mandates in place. You see the long list. Los angeles, miami, hawaii, france, United Kingdom and spain, on and on. Twitter says that tweet is in violation of their covid19 misleading information policy. To prohibit false, misleading content related to covid19 which could lead to twitter. Apparently they are all doctors like dr. Atlas. Removal of atlass tweet latest of a series of actions twitter taken to remove or flag posts by members of the trump administration, including the president himself. Last week twitter and facebook took actions to halt the New York Post article centered around hunter biden with gop lawmakers calling on both companies to explain themselves before congress. What makes them think theyre a doctor as opposed to dr. Atlas who is more than welcome to his opinion one would think in the marketplace of free speech. Stuart one would think, ashley, since when have we had a real marketplace of free speech at this moment because we dont. Thanks, ash. Check the markets again, please. Major indicators are back around. All in positive territory. Dow up 30. Nasdaq is up 23. Dozens of companies relocated to texas, taxfriendly texas since the pandemic. Coming up we have a guy who says even more will move there next year. Interesting. But first, remember the woman sitting behind President Trump at his nbc town hall last week. Turns out she used to be a democrat before voting for trump. She will tell us her story next. Did you know you can go to libertymutual. Com to customizes your Car Insurance so you only pay for what you need . Really . I didnt aah ok. Im on vibrate. Aaah only pay for what you need. Liberty. Liberty. Liberty. Liberty. I wanted more from my copd medicine, thats why ive got the power of 1,2,3 medicines with trelegy. The only fdaapproved, oncedaily 3 in 1 copd treatment. Trelegy the power of 1 2 3 trelegy 1 2 3 trelegy with trelegy and the power of 1, 2, 3, im breathing better. Trelegy works 3 ways to open airways, keep them open, and reduce inflammation for 24 hours of better breathing. Trelegy wont replace a rescue inhaler for sudden breathing problems. Tell your doctor if you have a heart condition or high Blood Pressure before taking it. Do not take trelegy more than prescribed. 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It is a very big week for the earnings. 80 of the s p big names theyre reporting. Take me through the biggies. What have we got . Susan that includes highflyers, tesla, netflix, ibm, big blue, cocacola, American Airlines, southwest. This will be a very heavy week. So far not bad. Only 10 reported but out of those 10 Credit Suisse says the numbers have been way above the 10year average. Up nearly 25 on the bottom line that is huge when youre up 25 . That is despite the fact you already have a high bar set for this quarter. First increase in analyst estimates in 10 years. Now tesla is outperforming today in a down market. Call it a flat market because we have wedbush dan ives raising the price target on tesla to 500. Tesla needs to prove it. That includes profitability after its first year of making money. They need to continue this momentum. Do they get added to the s p 500. The netflix another one to watch. Two Million Subscriber adds in the Third Quarter. Analysts say they will easily beat the number of a record 225 Million Subscriber add. First report card, announcing a, split. Airlines will be interesting this week. We have american, southwest, reporting later on this week. How bad is the cash burn and recovery for the entire space . Delta says it will be at least two years at least before getting back to precovid travel levels. Stuart two Million People passing through the tsa lines yesterday. First time since midmarch. Susan maybe there is more moat motivation to pass the stimulus package you would think . Stuart that is in the background. People are all over the place. Were up 45, 46 on the dow industrials. Now this lady, she was behind the president , okay if that town hall . This went viral. Became known as the head nodding lady. Her name is myra jolie. She is with us. There is the lady herself. Maya, i understand you used to be a democrat. Now you support trump. How did that happen . What is the transition . Well, i have been a democrat all my political life here in the United States and in 2016 i started looking, what attracted me to the candidate trump at the time was amount of attacks, relentless attacks by the Latin Community against that guy. At that point who was just a candidate, just that guy. There was a part of me, im a lawyer, so i always tried to try to see more facts than what is, what meets the eye. I wanted, i felt, i it was my, it was my obligations to see more than that. And try to at least defend a little, what is happening to these guys that are at this point. Just being voted to that. Stuart all right. That point im supporting him since he came down from the escalator. He was viewed as the next likely to succeed. Then i decided that, everything he was talking about, about the economy, about his plans for america, lined up with whatever i was thinking was happening to the country at that time. Stuart okay. I started supporting him. I was a democrat. I remain ad democrat until after i voted for him. Stuart tell us how you got into the town hall. How you managed to sit at the front . If youre a trump supporter, nbc im surprised they let you in in the first place and then put you in the front row. How did it happen . That is just serendipity and gods plan. We sign up to go for it. I, you know, i signed up to ask questions. I was not picked because softball for donald trump. They told us to sit wherever they wanted. I sat on the side, close to the border, close to my friends. Somebody on the nbc team decided to switch seats with me and other lady who was sitting in the sitting a at that end up sitting. I thought maybe at that point i was too tall for the screen or telegenic, for aestheticses. That is how i ended up sitting there. The rest is just history. I really didnt know that i was in the camera, because i can see on the other side everything was dark. I see the view on this side, everything is in the dark or blurred. Stuart okay. Mayra, give me 20 seconds what happened after you went viral nodding in favor of President Trump. Well everything happened right after i got out. And then 30 seconds, when they, when they were giving us instructions, nobody, no photos. Put your phone on silence. Then one of the camera people told me before they decided, before they started rolling, i used to go out with a big fan and i use it as a sign of glamour. I was told, listen, listen, do not use your fan when we start, you know, the show because you wouldnt believe the amount of im going to be up there, who is the lady with the fan behind the president. I thought they were joking. So i put my fan on the seat and i sat there quietly like a good girl. Stuart you did. When donald trump, President Trump entered the room i used to go to the rallies. Every time the president , you know, enters, everybody goes crazy. So i thought it was, it was our sentiment, Everybody Loves him. So i ended up being only crazy one. Stuart you made a huge impression. You made a huge impression. I think you stole the show. Thanks very much for coming on our show this morning. You have a lot to say. We appreciate that. Trump 2020 is the best line i can throw out there. Stuart well take that. Thanks very much, mayra. Come to see us again. Thank you very much. Thank you. Stuart i have a interesting statistic for you about luxury homes. Sales of luxury homes soared 40 in the last quarter. The guys at red fin real estate it is all things remote work, low Mortgage Rates and the stock market. Revved fins chief economist coming up in the next hour on that one. First though, gyms clearly suffering from the pandemic, in my opinion the industry will shrink no matter how much help they get from the government. More on that in just a moment. When i was in high school, this was the theater i came to quite often. The support weve had over the last few months has been amazing. I have a soft spot for local places. Its not just a work environment. Everyone here is family. Gonna go ahead and support him, get my hair cut, leave a big tip. If we focus on our local communities, we can find a way to get through this together. Thank you. If you are ready to open your heart and your home, check us out. Get out and about and support our local community. We thought for sure that we were done. And this town said not today. Its about the humans. Fun loving, fast paced humans. This human that human or these humans. Its about getting more than Health Insurance and a partner who listens and acts. Humana calls it human care. Its about offering a range of Medicare Advantage plans that are easy affordable and packed with valuable benefits many that include Prescription Drug coverage. Its about talking to your doctor from your couch. Helping you find cheaper prescriptions before you even ask. And a plan as low as a zero dollar monthly plan premium in many areas. 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Show me those, the fitness stocks i will call them that. I have got peloton up on the screen, lululemon, nike. I guess you call them fitness stocks. Susan i call them fitness stocks. Peloton is up close to 370 this year. One of the top 25 millenial trading favorites on the robinhood trading app. Peloton is a 150dollar stock according to boa. Because theyre expecting a Strong Demand for the products and a strong season. Remember the controversial ad for peloton, the husband buying the wife, a peloton bike . Doesnt matter this time around. Lulu lemon is another favorite. Falling 12 in september. It is up over 50 this year. Oppenheimer says it is worth 405. Oppenheimer says nike is worth 150. Piper calling it a 153dollar stock. Because 29 of teenagers identify themselves as sneaker heads. Spending 60 more on footwear than any other category. When the young are spending and buying that is a good sign for your stock is. Stuart fitness stocks are not doing well. We have the ceo of retrofitness which is a chain of gyms. Andrew, i will put it to you bluntly, if i may i think the gym industry is going to shrink, no matter how much help you get from the government or authorities on reopening. I think people have changed their habits and your industry is going to shrink. Im coming right at you with that. What do you say . Well on the surface it sounds like a fair point. Retrofitness, we have 120 health clubs open in development in 12 different states. Weve been mandated closed or partially closed for the last 216 days. So as you would imagine weve all been fighting in the industry very hard for these Small Business owners. We are a 100 franchise organization. We have to go get these Small Business owners, our franchisees financial relief. For the industry, exactly to your point, we had over 6,000 health clubs or gyms close over the course of the last six months, which is extremely unfortunate. But in many ways i also believe that the industry is at an inflection point. As tough as it has been i also believe it could potentially be a very exciting time. As we have in the country, 71. 6 of the people in the u. S. Are overweight or obese. And there is nothing like a Global Pandemic to encourage people to get healthier and get back to the health clubs. In many ways i see Going Forward the health clubs have a unique opportunity to be an extension of health care. If you look at it, 71. 6 in the u. S. In italy, with all the pizza, all the bread, their obesity rate is only stuart i got it. I got it. I understand your point. I really do sympathize with your industry but i think people have changed their habits. There is a lot more work at home, get exercise at home. Pelotons success is an obviously an example of that. Or echelon. Outside my window where i live in new jersey, every day there are these outdoor spin classes. They have taken the business outdoors. I dont think they will go back indoors anytime soon. You do see my point . Youre going to shrink. You will get government money probably but you are going to shrink. I want to know how much you think youre going to shrink, what is it 160 outlets now . Do you have shrink that down . We have 120 open or in development t was a 30 billiondollar industry forecasted to grow 20 over the next five years. What i would share in the clubs were currently operating our joins are up 20 . As a matter of fact, from an investor community, what i would share we had the best september since 2013 and we had the best month in franchise sales overhaul since 2017. When you think about industries that investors need to get capital working in, this is an industry that we really need to make a turning point. Again 71. 6 of america is overweight or obese. Are we going to 80 . Will we go to 90 . Something has to give. We have to get the country healthy again. With the coronavirus preexisting conditions what clogged the hospitals. Preexisting conditions directly related to obesity crippled the Health Care System for centuries, not centuries, for years. This is a great opportunity for the industry. Stuart lets see if you attract some capital. We appreciate you being with us, andrew. We do. Thanks for coming. See you again soon. Thank you. Stuart i want to update you on amc, the Movie Theater people. The stock is up 22 lauren, whats going on here . Susan well, or0 cents because the stock is now just 3 and change but big news, new York Governor Andrew Cuomo allowing theaters outside of new york city to reopen on friday. This is a boon for the industry. That is why the shares are rallying today. Amc is the largest theater chain. Theaters can be open in 40, 45 states they do business in. 530 out of 600 screens are operational, will be come friday. That is very good news. However, limited capacity. It is 25 in new york state. Very little content to show. So, yeah, the theaters are going to be open but are people going to go . Nonetheless there is this belief with most of them now open the studios start to say weve got good stuff. Well start to release it on the big screen the way it used to be. Stuart im sorry. Im a skeptic. Im a skeptic what gyms going back to what we used to know. Im skeptic about cinemas theater. Airlines will take a long time. I think we changed. We fundamentally changed. Some industry have to change with it. That is my opinion. Lauren . Susan lauren one year with a widespread vaccine maybe the normal returns. Stuart we are told never to say that, only time will tell. Never say that but i did. Corporate relocations from texas to to texas from blue states are on the rise. 2021 willing even bigger. Well be right back. Flexshares etfs are built with advanced modeling. To fill portfolio gaps and target specific goals. Strengthening client confidence in you. 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Ask about saving up to 1,500 on your installation. Virtual appointments now available. Stuart on your screens, just some of the companies that have either relocated to texas or expanded in texas because, one of the reasons is there is no Corporate Income tax there. Ed curtis is with us. He is the founder and he is the ceo of why texas. Literally, why texas. Ed, youre saying before we get to 2021 explain what is bringing people to texas. No Corporate Income tax. What else has texas got going for it . Companies are looking to eliminate risk and lower their cost of doing business. If you look at the cost of taxes obviously, you mentioned no state or Corporate Income taxes. You look what is happening with nasdaq and the state of new jersey, potentially imposing an additional tax on their trading volume. You look at regulations. Companies like predictability. Regulations that are predictable help them during times like this. Supply chain. Companies are looking at their supply chain. Theyre onshoring. They want to get their product out quickly. They need a centralized location. Obviously you have that here in texas. You have to look at energy and power. You look whats happening in california with the blackouts. Texas, we have our own independent grid. Weve got all sources of energy. Individuals they need a job. Theyre looking for a job. Theyre also looking for a lower cost of living. This month texas added a little over 40,000 jobs. 23,000 of those were in hospitality, the hotels, restaurants, slowly coming back. Housing the median price, median price of a house in texas is still below 200,000. California well over 550,000. Lastly theyre looking for density. Less density. Manhattan stuart hold on a second. Im sure you think that next year, 2021 is going to be better. Will it be better . Will more Companies Move to texas if joe biden wins . That doesnt matter. The markets are telling that, i believe. The Governors Office of Economic Development last week spoke to 100 ceos in an event we hosted online. 196 companies are in their pipeline alone. That has nothing to do with local Economic Development organizations looking at a flood of companies that are calling them. So our tracker, weve been tracking this for the last 10 years. And yes, we see 2021 being big. Stuart we got it. Thanks for joining us, sir. Ed curtis. Why texas. We found out why. Thank you very much, ed. Its a really busy week of campaigning for President Trump. Look at the schedule. Two rallies in arizona later on today. More coming in pennsylvania and North Carolina. That is later in the week. Then, the final president ial debate, nashville, thursday. What a week for the president. Well cover it. Plus weve got your, my take on your money, next. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. 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If using the Historical Data and analysis i would suggest the s p should make a new high by yearend. Stuart days away from the final debate, get rid of the moderator, you do not need one. Donald trump has on opportunity to show the American People that he can read and talk about the issues that matter to them. Not to a moderator. This is a tightening race, just like 2016, the selection will turn on where they need to get the votes, its about getting the vote, we have to motivate our troops. Stuart i know the song but ive never heard the name of the band before. Whitesnake, it says it on the screen. It is monday off tober the 19th, remember 1987, market dropped 22 for your single day drop in history. We are 33 years on from that, not repeating it today, were kicking off a big week on capitol hill preparing for votes on the stimulus tuesday and wednesday and on the Supreme Court late in the week. As for the market, red territo territory, down for the dow, nasdaq and s p, not a huge selloff but we are in the red, big week for earnings as well netflix and tesla two of the very big names which we will be reporting this week, at t, cocacola, intel and verizon a whole lot more. It is the final president ial debate, that is on thursday, you can indeed watch it right here on fox business. And now this. Perhaps you are like me amazed at the runup in stock prices. Right before a contentious election, i suppose nothing should be surprising in this dramatic year 2020 but ill admit to being surprised when i walk into the studio on a monday morning and see the market rally and again, it didnt the opening bell. There is a possibility of a democrat sweep with Elizabeth Warren as treasury secretary. There is a likelihood of a long drawn out election with no result by december there is a risk of a damaging second virus wave. None of this is good for stocks but all of it may happen. Yet stocks are going up and their close to record highs. Why is this, why is your 401k still looking so good. One primary reason, my opinion we are throwing money around like never before and there is nothing like a money gusher raising stock prices, trillions from the Federal Reserve trillions from congress and maybe another trillion or two if the stimulus talks go through. Were getting close to 10 trillion, that is stimulus, that is half the value of the entire economy, we never done this before. If you throw in much better corporate profits, the rapid rebound of the economy and Rapid Advances of treatment and vaccine technology, you even have more reason for stocks to rally please, dont forget the success of American Technology Companies Still leading the world in a postvirus economy. Of course you have to worry about a clean democrat sweep at the oval office, the senate and the house are all run by the left, watch out investors if biden wins there is a second wave and he will lock us down again, watch out investors, think of all the money, nonstop trillions, worry about the debt later, worry about war and in the treasury, worry about that later, dont worry until you have to. Right now enjoy the 10 trilliondollar ride. The third hour of Varney Company about to begin. Now this 15 days until the election, investors need to watch out, i think they really need to watch out of biden wins, market watcher ed is with me. If biden wins the white house and biden wins ascetic and transcendent back and keep the house, that to me is a major concern for investors, what say you . As you said a trillion here, a trillion there adds up to real serious money and its all the trillions of dollars of stimulus provided by one of us call monetary theory which is a combination of almost reckless fiscal and monetary policies just pouring money into the Financial System and thats whats driving the market, i would say the chair of the Federal Reserve matters more than whos going to be occupying the white house, to your point it will be a challenge for a lot of companies to deal with the government that is totally run by the democrats because of regulation and tax increase but as long as that does not add up to a recession the market can go higher and i think the democrats would spend so much money if the taxes that they raise for a while the market might do all right. Stuart obviously you care who wins the election and you care about a clean sweep but its not going to stop the market going higher when all this money is sloshing around, that is your point right. That is my point and if things go right and we get gridlock and remain nonpolitical, i think the stock market is gridlock, remember they call it checks and balances, its a great system to keep us from going excess, i think the market would welcome gridlock. Stuart doesnt worry that were old enough debts, will be at 30 trigon dollars for the u. S. Economy, thats gigantic, we always talk about the debt going up, do you worry about that. Over the years i learned its very important to really start out with the data, to watch the market and then come to your conclusion as a fiscal conservative i dont like what im seeing but as an investment strategist i have to say its been very bullish to have all of the liquidity provided by the fed and by the treasury. Would you expect a wave of selling november and december of this year as people sell stocks out of profit that they know theyre going to pay a low Capital Gains tax, if they wait until next year to sell at a profit odds are the Capital Gains tax will be much higher, possibly a wave of selling november and december. It could happen and if you get a blue wave and that makes it very likely that the capital games tax would go up, you might very well see that but if gridlock wins then thats not necessarily the case, again theres so much liquidity i think would people take their profits for tax reasons, theyre getting it right back into something else, i think im balance, i think the market will go higher. You and i are the same vintage, have you ever seen anything like this before. I characterizes those living in the twilight zone, when i was a kid i watch that show is scary as can be an hour living in and its unsettling to say the least. The market keeps on going up i find that extraordinary, amazing. Always a pleasure, thank you. Next, we got a new study that shows the pandemic will hit age pensions, i dont know what that is, lauren explained how it hits pensions. Lauren public pensions, there is a timeline if you look at how the pandemic has pushed public debt to new highs someone has got to pay for that, a new study by mercer and it predicts that globally governments will have to be very political challenging reforms like raising the retirement age, you could be working longer with less income as the economy tries to recover from the pandemic, they did a study with 39 countries, the u. S. Ranks number 18, what did you say, dont worry until you have to we have to worry about the spending in the stimulus but look at the public debt, someone has got to pay in the end and i have a feeling youre not going to have to but im going to have to. Stuart the sting was in the tail, i dont have to worry about it because im so old, before have to pay for. Will get back to you shortly. I promise. Stocks waiting for stimulus. Susan we just got confirmation from the Treasury Department monica says treasury secretary Steven Mnuchin and nancy pelosi House Speaker will be speaking this afternoon updates to follow political has reported that this conversation will take place at 3 00 p. M. Eastern time and also mark meadows chief of staff saying he has also spoken to President Trump about stimulus for an hour yesterday, we have the deadline and the tuesday of stimulus deal before the election as you heard from nancy pelosi she says shes optimistic that we will get one and its the main driver of stock market as we kick off this weekend over the past week is. Stuart look, look at the airlines and how theyre doing look at two, one, almost 3 gain and we might get a skinny deal for no good at 2. 2. 2 stimulus package, airlines will be part of the busiest earnings week that weve seen so far just around 80 of the s p 500 Companies Reporting and that does include netflix, tesla, ibm later on today and so far its been pretty good for Corporate America which i think is good for Pension Funds and a lot online. Stuart minute and Speaker Pelosi will speak at 3 00 oclock this afternoon, were expecting updates as we go along, i think the market is expecting maybe we will get a stimulus. Susan some sort of stimulus, a skinny bill possibly for the airlines and why theyre rallying today in a down market. Stuart why has the dow not turned around . If we just got this news for monica who we know well that theyre going to talk this afternoon and Movement Toward some kind of a deal. Susan skinny, sector pacific, likely the airlines will get something maybe we will get a 2 trilliondollar stimulus package, that does not list the broader market, you dont get that elsewhere. Stuart she is talking about a skinny deal. Susan thats what the Airline Stocks are pricing in a skinny targeted sector pacific. Stuart why is the market not factoring in a bigger deal. Susan i dont think the airlines matter. Stuart why hasnt the dow turned around. Susan they represent a smaller portion of the dow, it is price weighted. Stuart it for looking more towards getting some kind of stimulus deal, if they are talking about it this afternoon, when it that to the whole market endas opposed to just the airli. Susan i think they came back from lower levels, yeah something, they need to get something. Stuart you heard the latest on the stimulus, we will be joined by the white house for more on this, the white house, i did not know that. One city wants to get hundreds of residents two years worth of income, guaranteed, we will tell you where thats likely to happen in days away from the final president ial debate, President Trump Economic Advisor joins us next. Nonvalvular afib can mean a lifetime of blood thinners. And if youre troubled by falls and bleeds, 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. When it comes to the quality of our cars the highest. Its why only 1 in 10 cars we look at qualify to sell on our site. If its been in a reported accident, we wont sell it. And at our stateoftheart facilities our ase certified mechanics roll up their sleeves and get to it. Inspecting, dialingin, and fine tuning every single car inside and out, bringing all of it up to our high standards. 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Do you really believe one number that comes out of beijing, these numbers are fabricated we know that china lies about the Economic Data and you have to take as a grain of salt, china has done pretty well in terms of International Standards but i dont believe their economy is growing anywhere near four in 5 and i think if you look at the u. S. Performance, what about the 30 growth in the gdp that were going to have in the United States, i was listening to your previous conversation when you were talking to mike goodfriend, i want to give you hypothesis that is important for investors, why is the market so high potentially with the president ial candidate who would have a catastrophic negative effect on market, i think the answer to that, i think the investors know more than the posters about whats going on, i think this idea the joe biden has the race locked up and being rejected by investors, they are seeing something out there, if you look at the five or six battleground states they are very close, this is very close to being a tossup race and i think investors may know more than the posters. Stuart the betting markets that people put their money down and place about with their own money on the selection, they are predicting 60 i dont know how you phrase this, the betting market. I bet the betting markets are good indicator, you know what has happened in the last four or five days trumps numbers have gone up, theyve gone up, he still an underdog but he was down to 20 chance and he has risen pretty something is going on out there, the last four or five days theres been a little bit of a switch towards trump if he has a good debate youre talking about a total jump on election, there is nobody who can tell me that in agenda who raises the Corporate Capital gain in the state, raises the tax rate on Small Businesses, somebody has got to explain how in the world that is good for the economy investors in jobs you look at the past when you look at the Corporate Tax rate that takes a larger share from the shareholders how in the world is that good for markets, its a paradox and i think people will be very shocked if biden wins how negative that will be for investors. Stuart you have the final debate on thursday, the president will have a hostile mott under moderator, theres no question about that, how does he get to the economy on buddies doing to come out of the virus, how does he get that front and center, what advice would you give to them. Whatever the question is the answer is the economy, the economy, the economy and hes gotta make that debate on who you trust in terms of getting the economy back and you can make the point i have 30 growth and 11 million jobs back in good retail numbers, we got good Sales Numbers and good construction and housing, you cannot change pilots right now when youve got somebody wants to destroy the oil and gas industry, raise taxes on workers and investors, i think he has to keep making this point over and over again, he has to be on his best behavior, hes gotta look president ial because he did not and that first debate. Stuart the moderator will argue with him, maybe he should just let joe biden do more of the talking to get his own point, maybe, i dont know last word to you. One quick thing, every poll shows the Biggest Issue for americans are the economy and jobs in the moderators keep asking about things that Climate Change and hes gotta bring it back to jobs. Stuart absolutely, Stephen Moore thank you for joining us. Stuart you can watch the debate on the fox business network, that will be thursday 9 00 p. M. Eastern, it looks like president obama is going to hit the campaign trail for joe biden, i think you know when and where he hits the trail. Ashley yes, just two weeks ago this week, obama scheduled wednesday evening, he has largely stayed away from the 2020 president ial race but he did make an appearance of the Virtual Democrat National Convention in august where he praised joe biden and accused donald trump of showing no reverence for democracy or not taking the presidency seriously, you can expect more of that later this week and obama has appeared in youtube ads for the dnc urging people to vote, talking to pennsylvania the latest polls suggest that biden has a slight lead, this was the state the donald trump won in 2016 that resonated with workingclass voters and it was interesting to see how that works out this time around and just a little over two weeks ago barack obama getting on the trails but does not look like hes getting gangbusters. Stuart he doesnt, that is for sure, well said. Now we are down 100 on the dow, the bottom righthand corner, individual stocks, look at target they are giving hourly employees 70 million worth of new bonuses, 70 million going out there, the stock is up, ali baba is taken on walmart in china and the stock was up earlier, now its down a little bit. Susan the pain 3. 6 billion to take control chinas big box retailer which is a major rival to walmart in china and just like the u. S. And supermarkets they have been one of the booming and Retail Industry bright spots in the consumer stocking up on food and other Household Essentials during lockdown, walmart, i know people forget, walmart has only 10 of the bigbox Retail Sector in china people forget that warmer operate in china and already has more than that by itself, one individual company with 14 , ali baba takes control of bigbox retailing doesnt make sense, this is part of valley public Growth Strategy supermarket, grocery, resurgence in the Chinese Consumer but also a lighalot is going right for the committee, 310 a record high in recent days, up 44 this year for ali baba and not only groceries doing well, cloud, and needs to be profitable this year in cloud, think of valley baba as the amazon of china, not only do they sell but cloud is a major contributor to the bottom line and making money for them. Cloud is the magic word these days. Thank you. I like this one, luxury home sales spiking 41. 5 in the Third Quarter, the biggest jump since 2013, lets see if the trend continues because we are going to cover it, right now there are 27 black republicans running for congress, our next guest says President Trump is paving the way for a black gop renaissance. He will explain after this. Im a peer educator,. A fitness buff,. And a champion for my own health. I talked with my doctor. And switched to. Fewer medicines with. Dovato. Prescription dovato is for some adults who are starting hiv1 treatment or replacing their current hiv1 regimen. With. Just 2 medicines. In 1 pill, dovato is as effective as a 3drug regimen to help you reach and stay undetectable. Research shows people who take hiv treatment as prescribed. And get to and stay undetectable. Can no longer transmit hiv through sex. Dont take dovato if youre allergic to any of its ingredients. Or if you take dofetilide. Hepatitis b can become harder to treat while taking dovato. 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Stuart show me apple please pretty much its down acrosstheboard, i believe apple is up 119 a share. Susan we have apple iphone 12 preorders higher in the first 24 hours in last year iphone 11 is positive in this year dont forget this is coming from one of the top apple analyst which is worth listening to, apple sold 2 million iphone 12 models from the first 24 hours from just a hundred thousand of the iphone 11 last year, i think that is positive. Susan 24 hours they sold 800,000 2 million think thats positive. Dont forget china is the biggest market for the 5g upgrade since its countrywide and heres more spotty and very city specific before the full week in a preorders, they say apple likely to sell 9 million iphone and the sword for the entire weekend but a lot of enthusiasm in the first 24 hou hours, i think apple is banking on a lot of sales from the iphone 12, you heard Morgan Stanley saying this could be a record year of iphone shipments surpassing 2015 when they shipped 231 million units. Stuart apple at 119. Got that. The election 15 days away, a lot of confusion over voting rules and all places wisconsin which is a key state, Hillary Vaughn has a report on that from wisconsin. The Supreme Court is right now looking at an appeal to try to get ballots that are turned in wisconsin that arrived six days after the election to be counted and were expecting the Supreme Court to make a final decision on that in the coming days and meanwhile wisconsin is bracing for a surgeon and person voting in dealing with the poll worker shortage in looking at hauling in the National Guard to help me in the polls to deal with the voting, weve been on the ground in wisconsin talking to voters about the idea that ballots that arrived after election day could be counted, they are split on the issue. Everybody knows what the rules are and all the rules are changing, there is something going on that somebody is not telling me. I really dont, i dont think they should expend it, i think people have had more than enough time to get out and mail in that ballot or walk it in or however, and if you havent you snooze you lose. This is a state trump barely one in 2016 by 20000 votes, he is campaigning three times more frequently here in the state that biden has, biden did not show to wisconsin until after the shooting of jacob blake where he visited but he has not held an official Campaign Rally here, thats a mistake killer clinton made in 2016 she never campaigned as the official democratic nominee and a lot of people say she lost the state in 2016, trump is trying to do a repeat and really make up for that with coming here and campaigning and person voters. Stuart deja vu all over again, Hillary Vaughn and wisconsin, thank you hillary, what do you think about these schemes where the government gives you guaranteed income, theyre doing in compton, california, theyre launching the Pilot Program, 800 residents of guaranteed income, i dont know what it is been two years, guaranteed by the local government Kamala Harris dennard is back with us, welcome back. , the compton scheme seems to be the exact opposite of the president s plot and plan the scheme is handing out money, cash, the platinum plan is getting capital to the minority community, big difference, what side are you on. Thats a very big difference in the compton scheme is only going to keep black americans down in compton, it will not empower them, the platinum plan which President Trump is doing which is a black Economic Empowerment plant it is going to give access to capital, its going to create entrepreneurs, its going to create businessmen and women to contribute to the economy and not just give money for the sake of getting money, i would rather have 800 Small Business owners in compton rather than 800 people receiving money from the local government, i teach a man to fish or i can actually just give them the fish, lets teach these residents on Economic Empowerment, lets give them the tools necessary to empower themselves and include their life in the community, that is what is most important, thats why appreciate the fact that President Trump and the Republican Party believes in empowerment and entrepreneurship and growing people and growing communities, not just handouts and Government Programs that keep you down and dont reward the actual ingenuity, the creativity and the entrepreneurism that is vibrant and black communities. Stuart right, yes again paris dennard, there are 27 black gop members standing for congress this year, why the sudden appearance of so many black republicans. This is a historic number, 27 black republicans are running for congress, 27 for the house and 26 for the house and one in michigan running for the senate, this is incredible because we know that President Trump has created the environment for black entrepreneurship, black americans to say i have a place in this party, brought on mcdaniel who is our national gop chairwoman the state chairwoman when michigan made it a specific effort to engage with the black community and we sell President Trump when in michigan, it is because its an important thing that this party has done opening, widening, growing the party and more and more people are stepping up to the plate saying i want to join President Trump in washington, d. C. For four more years and joined senator tim scott from South Carolina and help them push forward not only the justice act but President Trumps platinum plan, these republicans that are running, john james and michigan for the Senate Environ donald in florida who is running for ngrecongress and a whole hostlee others all across the country, know tknsane aaissenaissanssan thlaeckla republican. Stuart the rapper ice cube got mesomeklme roll t tape f tapecon s period. I did not run to wor with anyany campan, botigh botpaigns wantacteacte me, bothpapaigns wa toed talk to me m aut a contract with bla blarica,me one ai said w we whatt you aerhe election and one onetigoy campaign smpd wd love what y , do you mindindalinking to about and thats what i did, i did not run to nobody. Stuart getting a hard time for supporting the platinum plan. He is and its unfortunate, liberals in america especially black liberals in the Joe Biden Campaign are running scared because they know President Trump is making a direct impact on the black community and changing hearts and minds and inspiring people to come out insane and willing to work with the trump of administration to get things done, the trump of administration in the Republican Party are about action and rhetoric, ice cube should be commended for finding ways to reach across the aisle to empower and improve the black americans across his country like President Trump has done, when you see the backlash that hes getting its unfortunate because we know that everyone should want to work with you administration to move the needle forward to power, uplift and encourage black americans to have the greatest time of their life making America Great again and thats what this administration is about. Stuart thank you, good stuff we will see you again soon, come back soon. Im going to say something, a new report reveals its almost impossible to get the virus while youre flying on a plane. Were going to live to chicago Ohare Airport. I promise. Businesses today are looking to tomorrow. Adapting. Innovating. Setting the course. But new ways of working demand a new type of network. One thats more than just fast. You need flexibility to work from anywhere. And manage from everywhere. Advanced technology. With serious security. And reliable coverage, nationwide. Forwardthinking enterprises, deserve forwardthinking solutions. And thats what we deliver. So bounce forward, with comcast business. Stuart put the flags out, the tsa screened 1,031,000 passengers sunday the first time they have been over 1 million passengers checked since march, midmarch at that, lets go to Ohare Airport in chicago where jeff flock is standing by, i want to know more about the new study that says catching tobit on a plane is highly unlikely, what you got on this. Probably safer than you sitting in the studio, the Defense Department did a study, i dont know how safe you are in the studio anyway but they did a study where they put a plane full of dummys out there, when i say dummies i dont mean people not wearing a mask, mannequins with the monitors and then released aerosol so they can measure what it would be like to have covid in the cabin, heres a surprising result, they found that the filtration on the planes took out about 15 times the amount of filtration you would have even in your own home and 5 6 times the amount you would have an operating room, sterile operating room, it took out 99. 7 of any particular as a result of the filtering and the exchange rate, this is very rapid, only a small portion of the air that is recirculated and because of the downward vent above your head as youre on the aircraft, i fly every week, ive been flying every week since the pandemic started such as the life of somebody significant others who lives in another city where you work. But usually when you get on the plane the first thing people do is turn those things off because they dont want the air coming on them they think theyre going to get covid, essentially what the study says, you should turn those on because it blows the air down and it puts everything down on the floor and not in your face, live and learn i despite my best efforts have not been able to get covid despite all the flying that i do but i do wear a mask, i think its rather becoming, dont you think. Stuart leave it on forever, just joking. [laughter] stuart he always got something new and interesting, thank you very much, see you again soon. Lets get the latest on the stimulus, i will bring in Brian Morgenstern white house director, im asking this because i am told you are cautiously optimistic that Speaker Pelosi will agree to a deal before the election, tell me more. Hope springs eternal, the president has been clear throughout this process that hes standing up for working people, he wants help in the form of stimulus checks, ppp to help employees of Small Businesses stay connected to their jobs, unemployment insurance, School Funding so we can get schools reopen and parents can stop playing double duty, if all these things the president has stood by, anywhere from a small package of repurchasing funds up to 1. 8 trillion. Stuart im terribly sorry to interrupt but we know all of this, i know all of that, now youre saying you are cautiously optimistic that Speaker Pelosi will agree to a deal, she laid down an ultimatum, you get a deal by tomorrow, tuesday or she walks, yet no package before the election, why are you cautiously optimistic of what the speaker is saying that. She laid down artificial deadline, when i tell you the president will continue to remain interested in a deal if we can get one in the next 24 48 hours we will remain at the table willing to negotiate and we put forth everything from the 300 billiondollar package up to 1. 88 trillion which is more than twice the size of the stimulus that we have at the end of the obama years so we are making really good faith attempts and coming up in a number, we are hopeful that the speaker sees that and she will reciprocate by negotiating a good faith, so far shes played politics and wanting to basically make working people continue to wait and suffer while she plays politics, we are hopeful that she will move and we will see how this afternoon goes with the conversation with secretary mnuchin and the speaker and will see what happens after that, we will remain interested in a deal no matter what, she can continue to set deadlines that she wants to but were here for the working families of america. Stuart we hear you, thank you very much for joining us, we do appreciate that. If you are cautiously optimistic, hopeful, maybe thats why the dow is still down because of all you got is hope, thats not going to go very far, susan is with us with breaking news from the Federal Reserve. Susan you still have help from the Federal Reserve, vice chair says the Federal Reserve will continue to increase the balance sheet, by treasury and continue to increase their holdings of agency mortgagebacked security at least at the current pace to sustain market functioning and part of the 4 trilliondollar firepower that we got from the Federal Reserve has been the reason were looking at record levels once again for the stock market also positive thirdquarter gdp we have not gotten those numbers yet he expects to rebound at a 30 annual rate which is huge and that means the flow of Economic Data from what he sees since may has been surprisingly strong for u. S. Economy. Stuart thirdquarter but no word on the fourth quarter, got that. Reality star as in Kim Kardashian was warned, dont work with President Trump, what is she saying now about it, what is she saying about that now might surprise you, we will be back. Since pioneering the suv in 1935, the chevy suburban has carried many things. Nothing more important than family. Introducing the most versatile and advanced chevy suburban and tahoe ever. Introducing the most versatile so youre a small bor a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Stuart Kim Kardashian talking to David Letterman about working with the president , what did she say. Susan she said she was warned, do not step foot into the white house as you work with donald trump in the white house on Prison Reform but she said she did not care she refused to badmouth the administration and says when it comes to clemency she will work with any administration, she helped free alice marie johnson. Stuart im sorry, i thought we were going to get a sound bite, nonetheless, thank you very much indeed, ive got a new study and it shows more people are looking to move to red counties as opposed to blue, i guess blue to red is the trend, darrell fairweather, the chief economist which is a real estate company, welcome to the program, good to see you, what happens if joe biden wins the election, what is the trend blue red if biden wins. This is been going on for years, even before 2016, i think this will continue regardless of who becomes president its money that is motivating people in the blue areas and go to more affordable red areas. Stuart this is not about taxes, it is about affordability. Taxes play into affordability, if youre living in a expensive place like San Francisco you are getting hit with high home prices and property taxes and people are leaving those for more affordable which is reno like a swing area but much more affordable. Stuart where are people moving out of most. San francisco, new york, los angeles, the coastal cities that people are leaving because they cannot afford to stay there anymore. Is there any sign that that trend is slowing down . It is actually speeding up with the pandemic and people being able to work remotely and reevaluating where theyre living, more space, bigger backyards and those areas are in places that swing read. What about the report that luxury home sales up 41 in the Third Quarter, why is that the. I think it speaks to how the pandemic is impacting different people differently, if you are quite wealthy and work in a job where you can work remotely you can pick up and move and put your house on the market and move somewhere else, were seeing the most home selling and homebuying activity at the top of the market and the most expensive homes. You have a lot in two and half minutes, that is really cool, thank you very much we will see you again soon, check the big board, down 86 points which is one third of 1 and we will have more varney after this. Nonvalvular afib can mean a lifetime of blood thinners. And if youre troubled by falls and bleeds, 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. Town and which supermarket gives you the most bang for your buck. Something else thats good to know . 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However, look at zoom. I think that is a standout again . A down market. It is up 16 bucks. Susan zoom is the darling of analysts. Bernstein price target of 611 on the stock. Saying there is 1 penetration despite youve grown to 300 million daily meeting participants. Stuart it is up 700 this year. Susan 700 . Stuart we have centogene. They have a new rapid test. Susan the fda agreed with this test. For people asymptomatic testing for covid. Stuart you get the result real fast. It is up 17 . That is not bad. The market down 73 points. My time is up. Neil, it is yours. Neil thank you very much, stuart. Were looking back at the day i might recall. Were older than some of our colleagues 33 years ago, the black monday crash. The dow lost a quarter of its value or something close to it. Could Something Like that happen again . The markets are in a lot stronger shape, buoyed about earnings and stimulus. Amazing rebound from the pandemic lows. Well go back in time to see what kind of things happened in october, suddenly, seemingly out of nowhere can jar this sort of thing. Were not nowhere. Were doing a little bit of history hopping. A new study out takes a look how