Transcripts For FBC Varney Company 20240713 : comparemela.c

Thats the anxiety indicator, if you like. This morning, the yield is back up to 1. 00 . Ashley back up. Stuart back up, thats right. Well above the extraordinary lows that we hit yesterday. That would be record lows that we did touch yesterday. 1 even on the tenyear treasury. How about the price of gold, another flight to safety. Actually its down again, off two bucks at 1641. Okay. The primaries. A great night for joe biden. He won nine states including texas. He now has more delegates than bernie. Sanders did win california, but late deciders swarmed to biden. Bernie might not have won california if the two million early voters had just waited. Bloomberg did very badly, only winning American Samoa. His campaign is quote, evaluating its future. One of my colleagues at fox said never had anyone spent so much to achieve so little. Elizabeth warren, ultimate disaster, third in her home state of massachusetts, fourth in her native state, oklahoma. It was joes night. Hes back as a contender, establishment democrats breathe a sigh of relief but joe still made a gaffe in his victory speech. Varney company is about to begin. People are talking about a revolution. We started a movement. Weve increased turnout. The turnout turned out for us. We are going to win because the people understand it is our campaign, our movement, which is best positioned to defeat trump. You cannot beat trump with the same old same old kind of politics. Stuart you saw it right there. Bernie and biden from super tuesday. Joining us, fox news. Com columnist, liz peek. The market is rallying because, this is my opinion, see if you agree, you can disagree if you like, because bernie did not do well. Yeah. I think we have seen that twice now, when biden won huge in South Carolina, which kind of started his big momentum comeback, the markets really responded to that. People are not ready for a revolution. They dont want Bernie Sanders as president and much as we might dismiss him as a cranky aging socialist from vermont who has a very narrow following, the truth is National Polls put him ahead of President Trump. So there is this black swan element to his candidacy, and i think when he won nevada by such a large percentage last week, that really alarmed people because the general thinking is he has 25 to 30 of democrats in his camp. All of a sudden he won 46 in nevada. That was alarming. What we saw last night naturally is that young people did not show up and they are his big group, and that was disappointing for him and biden is being propped up by the establishment which is really kind of the right word, i think, and because Amy Klobuchar and Pete Buttigieg moved out, he was able to win, for example, minnesota, where he had been trailing, but because Amy Klobuchar stepped aside, that was his to win. A lot of states, you can look at that. Mike bloomberg spent over i think i calculated a Million Dollars no, sorry, 10 million per delegate, something. Yeah, about 10 million per delegate and only won American Samoa which they actually dont even vote in the national election, people in American Samoa. It was not a good night for him. Stuart i think he spent more per delegate than 10 million. He got 40, he spent more than 400 million. Youre right. Stuart lets see if we can prove my point about the rally being the result of bernie having a bad night. Look at the Health Care Stocks, please. They are all up. Significant gains here because bernie did not do well. That means youre not going to get this medicare for all nonsense. Thats my opinion. Lets see if joel shulman agrees with me on this one. Look, this is a rally this morning, up 500. Is it a political rally . It is a political rally. When we go back over the last few months, we have seen two big issues, coronavirus and political news. Whenever warren and sanders did well, the markets did poorly and vice versa. So this is clearly a political rally. We saw it on monday. We are seeing it again today. Stuart before we go any further, i have the feeling, a lot of people have said to me this is like 2008. Especially that sharp decline in the treasury yield. So that was the one factor that was similar. It invoked panic because people didnt see this coming. Traditionally when we see Interest Rates decline or increase, we get a little preliminary advance knowledge. But this is was creating a little panic as a result. But its very much unlike 2000 bathes ba because back then we had Interest Rates of 5 , 6 , the economy wasnt the same, we had a financial collapse. It was completely different. Interest rates are low, we have strong economic growth, we have Tech Companies doing very well. Fundamentally different than 2008. Stuart very glad to hear that. Hold on. Lets get the latest on the virus. Dramatic news, dramatic action, i should say, from italy. What are they doing, ash . Ashley they are looking at closing all the schools across the country. They are having a hard time getting a handle. Of course, we know this outbreak of coronavirus occurred in northern italy, but it is spreading. The number of deaths there has now jumped to 79 from over 2500 cases and the government says we may indeed, as early as today, they havent made the announcement yet, close schools. That could last for at least 15 days. You know, the Italian Economy was struggling anyway. They were expecting a half percent gdp growth this year. Now its almost certain by all economists estimations, italy will be into recession because of this outbreak. Stuart real fast here, joel, to me, thats the fundamental problem facing america, how much does our economy slow down as people are less willing to mingle. I think most people anticipate one to two quarters. We have seen china get the problem pretty much under control with a couple weeks of just rest so if this is one or two quarter hit, we are factoring it into the economics for Many Companies and Many Companies will be spared. Think about u. S. Small caps. They wont have the same effects, they wont have supply chain effects. I think its still going to be strong. At the end of the day if we see a trump rally, at the end of the year, i think markets end higher. Stuart reportedly, the streets of seattle look like seattle looks like a ghost town. I dont have the video but thats what im hearing about. Have we got anything more on that . Ashley we do. Businesses especially in downtown seattle, they have had nine deaths reported in Washington State, almost all in king county, and eight of the nine, 20 minutes from downtown seattle. As a result, the Tourism Industry has been hit especially hard. As one business person said, i have never seen downtown so empty. Also, whole foods, trader joes, all the major supermarkets, their shelves are empty and they are trying to refill, sanitizers are gone, toilet paper, you name it. All of these emergency supplies. Its having a huge impact on the economy in seattle. Stuart heres another story about Corporate America sort of separating out. Susan, jpmorgan, stay at home for a day . Susan asking thousands of its employees, this is to test their contingency plans in case the coronavirus gets worse. This is project kennedy, they are looking for 10 of their 127,000 workers to stay home to make sure their trading platforms still work in case of a coronavirus outbreak and people can make it to the exchanges and make sure that everything is in place. Just to get back to seattle, amazon has reported its first worker is under quarantine, one out of 55,000 that work in Washington State near seattle. Can i introduce one positive note . Im hearing that smog is back up in china. Honestly, this is the epicenter. People are going back to work, apparently. Its not just pretend that the factories are back in production. That is incredibly important to how it affects us. Yes, its important that nursing home people die and awful and tragic but what will impact our economy is whether supply chain in china stuart pollution goes up, traffic jams return apparently that is back. The ring road around beijing at a halt. Which is very good news. Susan very good sign. Foxcom, the assembler of iphones, is up and running and getting back to full production by the end of the month. Thats indicative the economy is back up and running. You so the lowest coronavirus new count in the day in the entire epidemic so far. Thats a good sign. Stuart do you think we can see the far side of this thing in china . Not referring to anyplace else . Absolutely. If we see the epicenter slowing down, the cases are dropping quite a bit, this is an indicator that youve got a population of a billion three and they have been able to get this problem under control. Again, i think its a one quarter hit, possibly two, but they will return to production and our supply chain will be filled again. Stuart very positive. We like the sound of that. Okay. Check futures. Weve got 20 minutes to go before we open up. A big loss yesterday. Looking like a solid rally at the open today, up about 500 on the dow, 160 on the nasdaq. President trump meets Kim Kardashian at the white house today. Its all about criminal Justice Reform. Its also about outreach to minorities. Joe biden, yes, he is back in the race after the super tuesday wins. His resurgence, is that a concern for President Trump . I will certainly ask the question. I dont think mr. Trump will think its a concern. First, vermont, one of four States Bernie won last night. Pete hegseth is there. Can he find a bernie supporter in vermont . I know hes looking. More varney after this. woman no matter what business you are in, Digital Transformation never stops. Verizon keeps business ready for whats next. man we weave security into their business. second man virtualize their operations. third man and could even build ai into their customer experiences. We also keep them ready for the next big opportunity. Like 5g. woman where machines could talk to each other and expertise could go anywhere. woman when it comes to Digital Transformation, verizon keeps business ready. 1 in 3 deaths is caused by cardiovascular disease. Millions of patients are treated with statinsbut up to 75 persistent cardiovascular risk still remains. Many have turned to fish oil supplements. Others, fenofibrates or niacin. But heres a number you should take to heart zerothe number of fda approvals these products have, when added to statins, to reduce the risk of cardiovascular disease. Ask your doctor about an advancement in prescription therapies with proven protection. Visit truetoyourheart. Com how you watch it does too. Tv just keeps getting better. This is xfinity x1. Featuring the Emmy Awardwinning voice remote. Streaming Services Without changing passwords and input. Live sports with realtime stats and scores. Access to the most 4k content. And your movies and shows to go. The best tv experience is the best tv value. Xfinity x1. Simple. Easy. Awesome. Xfinity. The future of awesome. Its our most dangerous addiction. And to get the whole world clean . That takes a lot more than an alternative. So we took our worst vice, and turned it into the dna for a better system. Materials made from recycled plastic woven and molded into all the things we consume. We created bionic and put the word out with godaddy. What will you change . Make the world you want. They dont call it super tuesday for nothing. By the way, [ inaudible ]. Stuart look, im going to call that a gaffe, confusing your wife and your sister. Thats not the right thing to do. Look at this one, too, please. A protester rushed the stage, bidens Campaign Manager Simone Sanders jumped into action to stop her. Wild stuff on super tuesday. I think the protester was antimilk antidairy. Okay. Pete hegseth is with us, in all places, a diner in vermont. Bernie didnt get as many votes this time in vermont, okay, he won, he didnt get as many votes this time as he did in 2016. How do you explain that . Reporter not even close. I think joe biden had something to do with it, the unexpected rise for him. 85 of the vote in vermont in 2016 for Bernie Sanders in his home state. Only 51 last night. Now, i will say on fox friends we talked to some diners here, some republicans who said they went out and voted for joe biden. We also met republicans who voted for Bernie Sanders because they thought he would be the easiest for donald trump to beat. The mind of democrats, you know, i try not to crawl inside the mind of a democrat too often, but im trying to figure out what they are going for and in this case, i really think they think joe biden makes a more formidable opponent to Bernie Sanders and thats what vermont diners said to me this morning time and time again. They said we know bernie. We have been in this state for decades around bernie. Hes never held a job, he wants to take all your money with utopian dreams that dont work. A lot of them said i hope joe biden is successful because at least then youve got someone who isnt a socialist on the ticket. They know him pretty well here in vermont. They were surprised about what happened in massachusetts, just south of here, that warren couldnt even come in second. She came in third, beat by biden. Interesting night. Stuart i was watching your performance earlier on fox friends. I dont think you found a single valid bernie supporter. You may have found some republicans who voted for bernie because its an open primary but i dont think you found a single bernie guy. Reporter we did not. We tried. I swear we tried. Listen, it may be me, i might be a bernie or socialism repellant. I own that if thats part of the reason. We tried. Listen, i wear it with pride, like you do, stuart. But they are out there, clearly, enough of them, enough of them in california, colorado. But not enough in these other states. Well see the bros, maybe they arent as big and bad as we thought. Stuart pete, thanks very much for joining us, as usual. See you soon. Reporter i got to say, you want maple syrup or ericas beef jerky, you cant beat it here in vermont. Stuart are you in a diner, by any chance . Is that it . Reporter ericas diner. Thats why. Stuart bring some home. You want it. Thanks very much. Got to move. Looks to me like the democrats are lining up behind two candidates. I think both of them have got rather negative image for the future of america. Thats my opinion. Listen to the president. Wasn he wants middle class tax cuts. He wants prosperity. Roll tape. I like middle income tax cuts. I think it would be a good time. Middle income tax cuts. If the democrats would approve it i would go along with it. Reporter a payroll tax cut . Payroll tax, yeah. Reporter that would happen this year . I would do it if they can approve it. Stuart Ronna Mcdaniel with us, rnc chair. I will feed you good stuff here. It was a pretty nice contrast between the negative vision from the democrats and tax cuts and prosperity from the president. Theres really no difference between Bernie Sanders and joe biden on the fact they want to raise taxes. They said that openly on the debate stage. And the president has once again said to the American People lets cut taxes, its worked for our economy, thats why we have seen such great job growth, thats why we have seen wages up, because the president understood by cutting taxes and cutting regulation, you stimulate growth and its very contrasting ideas to the Democrat Party, who is all about more regulation and of course, hiking our taxes. Stuart its a great contrast. But i think the president is going to be judged in the election in the next few months over hiS Performance on the virus. What do you say . I think the president has been outstanding. He was right to shut down travel to china in january. I think that halted what would have been a greater spread. The fact that hes getting in front of the American Public and reassuring them and calming them and being forthright about whats happening, where the outbreaks are, giving us information, then we need congress to pass aid and put that through for the coronavirus but i think the president has been a phenomenal leader. Lets remember, the president is the one who said we shouldnt have open borders. We wouldnt let planes just land here without knowing whos on them so why are we letting people come to our southern border without knowing who they are. This is exactly the type of scenario why that is so important we know whos coming into our country. Stuart thank you very much for joining us this morning. I know you are very busy, very important day. We will move on and thanks for joining us. Appreciate it. All right. Now, look at dollar tree. Down, what, 1. 8 . Kristina partsinevelos at the exchange, whats the ceo saying about the virus . Is that the problem for dollar tree . Kristina no, actually they are trying to mitigate fear at dollar tree, their latest Earnings Report came out, they have a Conference Call right now, the ceo trying to reassure investors right now they are seeing production pick up as well as factory attendance increasing in china which is a positive. I know liz peek just said it before, too, pollution levels have started to increase in china which shows that some people are going back to work. The dollar tree ceo also said that Global Sourcing team in china, they do American Samoa<\/a>. His campaign is quote, evaluating its future. One of my colleagues at fox said never had anyone spent so much to achieve so little. Elizabeth warren, ultimate disaster, third in her home state of massachusetts, fourth in her native state, oklahoma. It was joes night. Hes back as a contender, establishment democrats breathe a sigh of relief but joe still made a gaffe in his victory speech. Varney company is about to begin. People are talking about a revolution. We started a movement. Weve increased turnout. The turnout turned out for us. We are going to win because the people understand it is our campaign, our movement, which is best positioned to defeat trump. You cannot beat trump with the same old same old kind of politics. Stuart you saw it right there. Bernie and biden from super tuesday. Joining us, fox news. Com columnist, liz peek. The market is rallying because, this is my opinion, see if you agree, you can disagree if you like, because bernie did not do well. Yeah. I think we have seen that twice now, when biden won huge in South Carolina<\/a>, which kind of started his big momentum comeback, the markets really responded to that. People are not ready for a revolution. They dont want Bernie Sanders<\/a> as president and much as we might dismiss him as a cranky aging socialist from vermont who has a very narrow following, the truth is National Polls<\/a> put him ahead of President Trump<\/a>. So there is this black swan element to his candidacy, and i think when he won nevada by such a large percentage last week, that really alarmed people because the general thinking is he has 25 to 30 of democrats in his camp. All of a sudden he won 46 in nevada. That was alarming. What we saw last night naturally is that young people did not show up and they are his big group, and that was disappointing for him and biden is being propped up by the establishment which is really kind of the right word, i think, and because Amy Klobuchar<\/a> and Pete Buttigieg<\/a> moved out, he was able to win, for example, minnesota, where he had been trailing, but because Amy Klobuchar<\/a> stepped aside, that was his to win. A lot of states, you can look at that. Mike bloomberg spent over i think i calculated a Million Dollars<\/a> no, sorry, 10 million per delegate, something. Yeah, about 10 million per delegate and only won American Samoa<\/a> which they actually dont even vote in the national election, people in American Samoa<\/a>. It was not a good night for him. Stuart i think he spent more per delegate than 10 million. He got 40, he spent more than 400 million. Youre right. Stuart lets see if we can prove my point about the rally being the result of bernie having a bad night. Look at the Health Care Stocks<\/a>, please. They are all up. Significant gains here because bernie did not do well. That means youre not going to get this medicare for all nonsense. Thats my opinion. Lets see if joel shulman agrees with me on this one. Look, this is a rally this morning, up 500. Is it a political rally . It is a political rally. When we go back over the last few months, we have seen two big issues, coronavirus and political news. Whenever warren and sanders did well, the markets did poorly and vice versa. So this is clearly a political rally. We saw it on monday. We are seeing it again today. Stuart before we go any further, i have the feeling, a lot of people have said to me this is like 2008. Especially that sharp decline in the treasury yield. So that was the one factor that was similar. It invoked panic because people didnt see this coming. Traditionally when we see Interest Rates<\/a> decline or increase, we get a little preliminary advance knowledge. But this is was creating a little panic as a result. But its very much unlike 2000 bathes ba because back then we had Interest Rates<\/a> of 5 , 6 , the economy wasnt the same, we had a financial collapse. It was completely different. Interest rates are low, we have strong economic growth, we have Tech Companies<\/a> doing very well. Fundamentally different than 2008. Stuart very glad to hear that. Hold on. Lets get the latest on the virus. Dramatic news, dramatic action, i should say, from italy. What are they doing, ash . Ashley they are looking at closing all the schools across the country. They are having a hard time getting a handle. Of course, we know this outbreak of coronavirus occurred in northern italy, but it is spreading. The number of deaths there has now jumped to 79 from over 2500 cases and the government says we may indeed, as early as today, they havent made the announcement yet, close schools. That could last for at least 15 days. You know, the Italian Economy<\/a> was struggling anyway. They were expecting a half percent gdp growth this year. Now its almost certain by all economists estimations, italy will be into recession because of this outbreak. Stuart real fast here, joel, to me, thats the fundamental problem facing america, how much does our economy slow down as people are less willing to mingle. I think most people anticipate one to two quarters. We have seen china get the problem pretty much under control with a couple weeks of just rest so if this is one or two quarter hit, we are factoring it into the economics for Many Companies<\/a> and Many Companies<\/a> will be spared. Think about u. S. Small caps. They wont have the same effects, they wont have supply chain effects. I think its still going to be strong. At the end of the day if we see a trump rally, at the end of the year, i think markets end higher. Stuart reportedly, the streets of seattle look like seattle looks like a ghost town. I dont have the video but thats what im hearing about. Have we got anything more on that . Ashley we do. Businesses especially in downtown seattle, they have had nine deaths reported in Washington State<\/a>, almost all in king county, and eight of the nine, 20 minutes from downtown seattle. As a result, the Tourism Industry<\/a> has been hit especially hard. As one business person said, i have never seen downtown so empty. Also, whole foods, trader joes, all the major supermarkets, their shelves are empty and they are trying to refill, sanitizers are gone, toilet paper, you name it. All of these emergency supplies. Its having a huge impact on the economy in seattle. Stuart heres another story about Corporate America<\/a> sort of separating out. Susan, jpmorgan, stay at home for a day . Susan asking thousands of its employees, this is to test their contingency plans in case the coronavirus gets worse. This is project kennedy, they are looking for 10 of their 127,000 workers to stay home to make sure their trading platforms still work in case of a coronavirus outbreak and people can make it to the exchanges and make sure that everything is in place. Just to get back to seattle, amazon has reported its first worker is under quarantine, one out of 55,000 that work in Washington State<\/a> near seattle. Can i introduce one positive note . Im hearing that smog is back up in china. Honestly, this is the epicenter. People are going back to work, apparently. Its not just pretend that the factories are back in production. That is incredibly important to how it affects us. Yes, its important that nursing home people die and awful and tragic but what will impact our economy is whether supply chain in china stuart pollution goes up, traffic jams return apparently that is back. The ring road around beijing at a halt. Which is very good news. Susan very good sign. Foxcom, the assembler of iphones, is up and running and getting back to full production by the end of the month. Thats indicative the economy is back up and running. You so the lowest coronavirus new count in the day in the entire epidemic so far. Thats a good sign. Stuart do you think we can see the far side of this thing in china . Not referring to anyplace else . Absolutely. If we see the epicenter slowing down, the cases are dropping quite a bit, this is an indicator that youve got a population of a billion three and they have been able to get this problem under control. Again, i think its a one quarter hit, possibly two, but they will return to production and our supply chain will be filled again. Stuart very positive. We like the sound of that. Okay. Check futures. Weve got 20 minutes to go before we open up. A big loss yesterday. Looking like a solid rally at the open today, up about 500 on the dow, 160 on the nasdaq. President trump meets Kim Kardashian<\/a> at the white house today. Its all about criminal Justice Reform<\/a>. Its also about outreach to minorities. Joe biden, yes, he is back in the race after the super tuesday wins. His resurgence, is that a concern for President Trump<\/a> . I will certainly ask the question. I dont think mr. Trump will think its a concern. First, vermont, one of four States Bernie<\/a> won last night. Pete hegseth is there. Can he find a bernie supporter in vermont . I know hes looking. More varney after this. woman no matter what business you are in, Digital Transformation<\/a> never stops. Verizon keeps business ready for whats next. man we weave security into their business. second man virtualize their operations. third man and could even build ai into their customer experiences. We also keep them ready for the next big opportunity. Like 5g. woman where machines could talk to each other and expertise could go anywhere. woman when it comes to Digital Transformation<\/a>, verizon keeps business ready. 1 in 3 deaths is caused by cardiovascular disease. Millions of patients are treated with statinsbut up to 75 persistent cardiovascular risk still remains. Many have turned to fish oil supplements. Others, fenofibrates or niacin. But heres a number you should take to heart zerothe number of fda approvals these products have, when added to statins, to reduce the risk of cardiovascular disease. Ask your doctor about an advancement in prescription therapies with proven protection. Visit truetoyourheart. Com how you watch it does too. Tv just keeps getting better. This is xfinity x1. Featuring the Emmy Awardwinning<\/a> voice remote. Streaming Services Without<\/a> changing passwords and input. Live sports with realtime stats and scores. Access to the most 4k content. And your movies and shows to go. The best tv experience is the best tv value. Xfinity x1. Simple. Easy. Awesome. Xfinity. The future of awesome. Its our most dangerous addiction. And to get the whole world clean . That takes a lot more than an alternative. So we took our worst vice, and turned it into the dna for a better system. Materials made from recycled plastic woven and molded into all the things we consume. We created bionic and put the word out with godaddy. What will you change . Make the world you want. They dont call it super tuesday for nothing. By the way, [ inaudible ]. Stuart look, im going to call that a gaffe, confusing your wife and your sister. Thats not the right thing to do. Look at this one, too, please. A protester rushed the stage, bidens Campaign Manager<\/a> Simone Sanders<\/a> jumped into action to stop her. Wild stuff on super tuesday. I think the protester was antimilk antidairy. Okay. Pete hegseth is with us, in all places, a diner in vermont. Bernie didnt get as many votes this time in vermont, okay, he won, he didnt get as many votes this time as he did in 2016. How do you explain that . Reporter not even close. I think joe biden had something to do with it, the unexpected rise for him. 85 of the vote in vermont in 2016 for Bernie Sanders<\/a> in his home state. Only 51 last night. Now, i will say on fox friends we talked to some diners here, some republicans who said they went out and voted for joe biden. We also met republicans who voted for Bernie Sanders<\/a> because they thought he would be the easiest for donald trump to beat. The mind of democrats, you know, i try not to crawl inside the mind of a democrat too often, but im trying to figure out what they are going for and in this case, i really think they think joe biden makes a more formidable opponent to Bernie Sanders<\/a> and thats what vermont diners said to me this morning time and time again. They said we know bernie. We have been in this state for decades around bernie. Hes never held a job, he wants to take all your money with utopian dreams that dont work. A lot of them said i hope joe biden is successful because at least then youve got someone who isnt a socialist on the ticket. They know him pretty well here in vermont. They were surprised about what happened in massachusetts, just south of here, that warren couldnt even come in second. She came in third, beat by biden. Interesting night. Stuart i was watching your performance earlier on fox friends. I dont think you found a single valid bernie supporter. You may have found some republicans who voted for bernie because its an open primary but i dont think you found a single bernie guy. Reporter we did not. We tried. I swear we tried. Listen, it may be me, i might be a bernie or socialism repellant. I own that if thats part of the reason. We tried. Listen, i wear it with pride, like you do, stuart. But they are out there, clearly, enough of them, enough of them in california, colorado. But not enough in these other states. Well see the bros, maybe they arent as big and bad as we thought. Stuart pete, thanks very much for joining us, as usual. See you soon. Reporter i got to say, you want maple syrup or ericas beef jerky, you cant beat it here in vermont. Stuart are you in a diner, by any chance . Is that it . Reporter ericas diner. Thats why. Stuart bring some home. You want it. Thanks very much. Got to move. Looks to me like the democrats are lining up behind two candidates. I think both of them have got rather negative image for the future of america. Thats my opinion. Listen to the president. Wasn he wants middle class tax cuts. He wants prosperity. Roll tape. I like middle income tax cuts. I think it would be a good time. Middle income tax cuts. If the democrats would approve it i would go along with it. Reporter a payroll tax cut . Payroll tax, yeah. Reporter that would happen this year . I would do it if they can approve it. Stuart Ronna Mcdaniel<\/a> with us, rnc chair. I will feed you good stuff here. It was a pretty nice contrast between the negative vision from the democrats and tax cuts and prosperity from the president. Theres really no difference between Bernie Sanders<\/a> and joe biden on the fact they want to raise taxes. They said that openly on the debate stage. And the president has once again said to the American People<\/a> lets cut taxes, its worked for our economy, thats why we have seen such great job growth, thats why we have seen wages up, because the president understood by cutting taxes and cutting regulation, you stimulate growth and its very contrasting ideas to the Democrat Party<\/a>, who is all about more regulation and of course, hiking our taxes. Stuart its a great contrast. But i think the president is going to be judged in the election in the next few months over hiS Performance<\/a> on the virus. What do you say . I think the president has been outstanding. He was right to shut down travel to china in january. I think that halted what would have been a greater spread. The fact that hes getting in front of the American Public<\/a> and reassuring them and calming them and being forthright about whats happening, where the outbreaks are, giving us information, then we need congress to pass aid and put that through for the coronavirus but i think the president has been a phenomenal leader. Lets remember, the president is the one who said we shouldnt have open borders. We wouldnt let planes just land here without knowing whos on them so why are we letting people come to our southern border without knowing who they are. This is exactly the type of scenario why that is so important we know whos coming into our country. Stuart thank you very much for joining us this morning. I know you are very busy, very important day. We will move on and thanks for joining us. Appreciate it. All right. Now, look at dollar tree. Down, what, 1. 8 . Kristina partsinevelos at the exchange, whats the ceo saying about the virus . Is that the problem for dollar tree . Kristina no, actually they are trying to mitigate fear at dollar tree, their latest Earnings Report<\/a> came out, they have a Conference Call<\/a> right now, the ceo trying to reassure investors right now they are seeing production pick up as well as factory attendance increasing in china which is a positive. I know liz peek just said it before, too, pollution levels have started to increase in china which shows that some people are going back to work. The dollar tree ceo also said that Global Sourcing<\/a> team in china, they do Third Party Quality<\/a> inspections, thats coming back to normal levels as well. They are working with freight consolidators so it seems like ports are starting to improve. Nonetheless, you are still seeing the stock down almost 2 , reason being they missed their sales target or missed the expectation from a lot of analysts. Overall, the stock had been down over 14 for the year. They also offer a Family Dollar<\/a> so weaker sales but the ceo is telling us on a Conference Call<\/a> right now that its starting to pick up in china. Back to you. Stuart thanks very much indeed. You will get a lot of work at the exchange this morning. Thats a fact. Next, the u. S. Has carried out air strikes against the taliban. Ashley yeah. They are calling them defensive air strikes. They havent launched any types of air strikes in 11 days. Dont forget, there was a peace deal signed on february 29th but these are taliban fighters, in particular, four taliban fighters. We dont know their fate but it would not probably be great if they were the subject of this strike. But taliban has continued its attacks on the Afghan National<\/a> defense forces. Part of the problem here is that the Afghan Government<\/a> and the taliban cannot agree that the Afghan Government<\/a> will release some 5,000 taliban prisoners, which was part of the deal that the u. S. , it was all a conditionbased agreement and part of that agreement to bring peace to the region was the release of these 5,000 taliban prisoners. The Afghan Government<\/a> to this point has said no. Stuart got it. All right. Lets recap, just in case you are joining us now. We had a big drop for the market yesterday but overnight came news that Bernie Sanders<\/a>, the socialist candidate, has not done well in super tuesday primaries. That is helping the market this morning. We got a rally on our hands, up 600 on the dow, up 170 on the nasdaq. We will take you to wall street shortly. I wanted more from my copd medicine thats why ive got the power of 1, 2, 3 medicines with trelegy. The only fdaapproved oncedaily 3in1 copd treatment. Trelegy the power of 1,2,3 trelegy 1,2,3 trelegy woman with trelegy and the power of 1, 2, 3, im breathing better. Trelegy works three ways to open airways, keep them open and reduce inflammation, for 24 hours of better breathing. Trelegy wont replace a rescue inhaler for sudden breathing problems. Trelegy is not for asthma. Tell your doctor if you have a heart condition or high Blood Pressure<\/a> before taking it. Do not take trelegy more than prescribed. Trelegy may increase your risk of thrush, pneumonia, and osteoporosis. Call your doctor if worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain occur. Think your copd medicine is doing enough . Maybe you should think again. Ask your doctor about oncedaily trelegy and the power of 1, 2, 3. Trelegy, 1,2,3 woman save at trelegy. Com. Stuart new president ial tweet. Here it is. I will be going to the great state of tennessee on friday. The usa stands with the people of tennessee 100 . Whatever they need. The tornados were record size and velocity. God bless your loved ones and all the families affected. Thanks to governor bill lee and marsha blackburn. Onscreen, the viral video of Mike Bloomberg<\/a> licking his fingers after eating pizza. Mr. Trump tweeted about it. Here we go. Lost it. Where is it . Mini mike, he said, mini mike, dont lick your dirty fingers. Both unsanitary and dangerous to others and yourself. Okay. Lets move on, shall we . Mr. Bloomberg, i say really bombed yesterday despite spending millions. What do you make of this . His campaign is evaluating the situation . Well, he may drop out. He ended up last night with about i think 44 delegates, Something Like<\/a> that, spent a fortune. But remember, he got in this race because he didnt think joe biden had the ability to carry it through to the end. He wanted a moderate democrat to win, was appalled by the policies of Bernie Sanders<\/a> and Elizabeth Warren<\/a> and i dont think that changed when he came out and said he would spend whatever it took, no matter who was the candidate, i never believed that. I think if its bernie, he simply wont do that. But Mike Bloomberg<\/a> really wanted to be the moderate who won and we have now, i was going to say a vibrant moderate in the race. Im not going to say that. We have a person who is a moderate who is being held up by the establishment democrats and i think honestly, this is for bloomberg just a bit of a vanity project and also, kind of reaping the rewards of spending hundreds of millions of dollars over the last several years to become the major power broker in the democratic party. I think he still has that. He ends up with delegates and money. Hell be okay. The question is whether he stays in the race. I dont think so. Stuart i would contest your view of joe biden as a moderate. I agree. Compared to Bernie Sanders<\/a>, anybody is. Stuart what have i got . A virus update. Ashley, what do you have . Ashley just reading this. The italian media saying in fact, indeed, the Italian Government<\/a> has decided to close all schools and universities until midmarch. We are talking 14 days, much like in japan and in china. Stuart the imf, what are they saying . Ashley they say the coronavirus outbreak poses a serious threat to the world economy. Demand is falling due to the higher uncertainty but they say the Financial System<\/a> is much more sound than we were in that position back in 2008 with the financial crisis. Its very hard they say to measure the impact but no doubt its going to be at this point, its going to take a bite out of growth around the world. Stuart okay. Real fast, d. R. Barton is joining us. Am i right, we are all right saying this rally is a political a market response to super tuesday . I think it is a market response. I think theres some rebound from yesterdays down market. We will get some more of that. But i do think that bernie is a bigger story right now. Stuart we are off and running and already up 590 points. Ive got a sea of green on the lefthand side of the screen. Now its all green. Every dow stock, all 30 of them, are in the green. They are all up. The dow is up 600 points, 2. 3 . The s p, have we got a similar percentage gain . No, we dont. We are up 1. 7 but we will take it. The nasdaq, i think thats going to pop. Yes, it is, up 1. 8 . Thats 159 points higher. Show me the big tech. Thats surely helping the nasdaq. Big tech, all of them higher. Microsoft, apple, alphabet, amazon, facebook, up. Health care stocks, we showed you them about 20 minutes ago. Now they have opened and yes, they are up bigtime. 10 higher for united health. Thats a dow stock, its adding a lot to the dow. These stocks are up because Bernie Sanders<\/a> did not do well yesterday in super tuesday. There goes medicare for all which the Health Care Stocks<\/a> had always reacted negatively to. Shares of inovio, up 9 . What do they have a vaccine . Ashley they do. Philadelphia based company. They say they are ready for human trials next month, in april, here in the United States<\/a> and then on into china and south korea. Its called ino4800. Its shown very good initial results. They say they hope to have one million doses of the vaccine by years end. Stuart years end. Which is a plus but s ashley ten months from now. Stuart 700 up on the dow. Executives from the airlines are going to the white house later. Whats with that . Susan thats to better track passengers on board these flights for surveillance so you can track covid19 if one of the passengers do indeed test positive for it. Also, they are working to improve surveillance with airports as well. So far they have relationships with 11 airports. I think thats the key now is how do we track passengers and those that have been infected. Stuart d. R. , im looking at American Airlines<\/a> there. 17 a share. Would you be tempted to buy it . You cannot the one thing you cannot bottom pick here is entertainment and gaming stocks. They are going to have a longer duration hurt than most people. No. Stuart cruise lines are relaxing their cancellation fees, i guess thats good news. Ashley it is. They were doing this only for those cruises headed to asian ports this spring, but theres been a lot of reevaluation by people going anywhere in the world so they are now starting to relax their Cancellation Policy<\/a> for anywhere that these cruise lines go. Norwegian cruise line being one of those, viking cruises also saying we understand you may want to change your plans so they are being more lenient now. Stuart cruise lines have a p. R. Problem. Who wants to be on a floating ultimate nightmare, right . Stuart it would be. Yes, it would. Susan Royal Caribbean<\/a> said the damage from coronavirus would be ten times Hurricane Dorian<\/a> if all asia itineraries were canceled. Thats the impact of coronavirus. Ten times a category 5 hurricane. Stuart carnival at 31 a share. I remember that like quadruple that level, over 100 just recently, too. At the end of 2019. Stuart did i say they have a bad p. R. Problem . Carnival promptly moves lower. Its not me. Hotel stocks. I know they have been down recently. Where are they today . Modestly higher. All of them, on the screens right now. Then we have what we call stayathome stocks like netflix and grub hub. They are doing well because of the virus, i guess. Susan well, thats true. Netflix is actually up over the past five days whereas the s p 500 is actually down some 8 . But if you dont have anything to do because you cant go out, you are quarantined, you stay home and you watch your netflix, you order food in which is something i think you might do, if you might be quarantined. So grub hub has been rallying and we have seen that with possibly peloton because you want to work out at home. Why go out . Do you really want to go to a sweaty gym . One of the few places i think you can still look, theres a company teledoc, where you can call a doctor, not have to go. I have used them multiple times before for other reasons and their stock, we look at that, is at 125, up over 25 . Those kinds of stocks, thats one place to look. That really makes sense because you keep hearing warnings about dont go to an emergency room because hospital workers get infected and stuart what do you do . You call teledoc. Hope for the best. Stuart thats a consultation online . Ashley by phone or video. They cant treat you. They can maybe diagnose. You have to get to the hospital if you need help. There is not much treating going on anyway. Ashley rock and a hard place. If you need help, youve got to go somewhere. Stuart on the screens now, work at home stocks. You got more on that . Ashley theres an Investment Firm<\/a> thats put out a stay at home index of stocks, 33 stocks in it. Facebook, video game developer activision blizzard, peloton, Food Delivery Service<\/a> grub hub. These are all, what did you call it the other day . Cocooning stocks. There will be a baby boom nine months later. Its true. Every time theres a blackout or any kind of other event that keeps people at home. Its true. Its true. Ashley in december we will come back to you. Susan okay. Stuart okay. Ill tell you where im going, i was born nine months and two weeks after the worst english winter. There you go. Stuart 1947 was a terrible winter in england. Ashley you were trapped. Susan thats why most babies are born in the fall because of the winter. What do you do . Stuart we really digressed here. Do we have china stocks . Look at this. Weve got crude oil back up to 48 a share. Weve got these are china stocks. Alibaba is up, baidu is up. Jd. Com up again, 43 per share. How about commodities . This is something we dont really follow very closely. Oil is up, brent oil is up, gold is down a bit. Copper is a very difficult thing to quantify. It has bottomed and is starting to go up. Is that a positive sign . I dont have a quote for you. D. R. , obvious question, with all this extraordinary turmoil and the yield on the tenyear treasury dropping below 1 , does this remind you of 2008 . Are there similarities . There are. I will tell you the first one we have already seen this week twice. Even in a down market, thats when we get the biggest single up days, the top 20 individual up days over the past 25 years have all happened during the dotcom boom, the longterm Capital Management<\/a> crisis and the 20070809 crisis. We havent seen the end yet. Its not yet time to go back in with both feet. We do not know how many cases there are yet in the u. S. And many other countries because we havent started testing yet. We have tested fewer than 1,000 people in the u. S. Thats going to ramp up starting this weekend. We are going to see some different numbers. If you have money to put to work, you are going to get to put it to work at a lower point than we are today and thats my message to folks out there. Stuart theres a Silver Lining<\/a> to the sharp decline in Interest Rates<\/a> and that would be Mortgage Rates<\/a> coming down and a rush to refi. Im told that the refi last week was up 26 . New Mortgage Applications<\/a> up 15 . I have to believe that thats good for the housing market, good for the economy overall. Susan sub1 on the tenyear treasury was at 3 if you wanted something long term. Thats incredible to refinance a mortgage at just 3 . Stuart yeah. Theres going to be a lot of activity. It helps new housing starts, it helps the whole industry sector which has been a laggard the last couple years. Looks pretty good. Stuart its important to look to the other side of the virus. I dont know when the other side arrives but when it does arrive, it should be pretty positive. Susan sharp and fast as it usually does. Stuart we have two big retailers reporting earlier today. Urban outfitters, nordstrom. They are both down significantly. Susan Urban Outfitters<\/a> usually targeted towards the millenials and genzs, younger fashion crowd. They disappointed when it comes to quarterly profits, missed estimates, i hate to say it but thats how you value stocks, right. Stuart i dont. Susan thats how you value stocks. Stuart i dont. Susan all the news is in the market, priced into the market. Thats where the stock moves and you find value. Thats how you price stocks. Stuart i didnt look at expectations when i bought microsoft at 20 and 25 and made a ton of money. I couldnt care less about expectations from wall street. Susan when you bought microsoft in the early 2000s, what was priced into the stock was slow growth and people not using windows anymore. Who knew that nadella would come in and blow out cloud . That was a surprise. Stuart i could see it coming a mile off. Ashley what a visionary. Susan has the short term view, you have the long term view. Both good ways to look at a stock. Stuart im the granddad here. Lets not forget. Deal with nordstrom. Ashley yeah, tough. Not great on earnings, not great on sales. Disappointing the street, thats another term stu loves. They have decided they had copresident s, eric and pete nordstrom, no longer. Eric nordstrom takes over as sole ceo. They have struggled. They are making some gains online. They tried this new approach where they opened up stores, small stores, where they had no inventory. You go in, have alterations done or pick up stuff you have ordered online. Kind of interesting, is it not . Stuart did it work . Ashley eh. Just started. Very innovative. Ashley yes, they are trying. Stuart its 9 40 eastern time. That means we have to say goodbye to the lady who announced there would be a baby boom this year. That was a sterling comment, the best comment of the day so far. I will say that. Doc siegel might be joining us next hour to confirm. Thank you, liz. Thank you. Stuart all right. Staying on retail, the clothing rental company, this is kind of new to me, rental Company Called<\/a> rent the runway, adding new subscription options. Retail watcher kristin benz is with us. Can you explain this . I dont understand whats going on here. Let me break it down for you, stuart. So millenials really like to recycle and upcycle things, right . They want to be more environmentally conscious. So instead of going out and buying a lot of clothing in their closet, they have a subscription, just like it would be netflix or disney plus or anything else but its for clothing. You get four items a month, you wear them and rotate them, you can switch them back to the company until you find ones you like, then you give them back and they dry clean them and pick them up and boom, next month, whole new set of clothes. Stuart by the way, Mike Bloomberg<\/a> says Companies Like<\/a> rent the runway are hurting retail. Hold on a second. Just listen to this. Roll tape, please. What i think it is, is its real real where people resell their own clothing and it is rent the runway, i can just tell you in my company, all the young women, they dont sell mens clothing, its only womens clothing, they pay 85 bucks a month, they get five outfits, they wear them all week, all the month, they dont bother to clean them and they mail them back. Thats whats hurting the Retail Business<\/a>. Amazon is part of it but not the only thing. Stuart what do you say, that is hurting the Retail Business<\/a> . Does he have a point . Well, clearly rental clothing was top of mind with American Samoa<\/a> voters last night so i dont think he has a point. I dont think that its hurting the Retail Business<\/a>. Consumer behavior and technology changed the Retail Business<\/a>, but i dont think bashing your female employees for being savvy is actually a winning election point. Stuart can you confirm for me that youngsters really do this, rent clothing, send it back, they do it to save the planet . Is that serious . I think they do it for the i dont think they really do it to save the planet. Got to keep that instagram feed looking fresh, know what im saying . Stuart no. They are concerned with the environment. They do use that as a unique selling proposition but yes, people are doing this. The stigma of renting clothing and buying secondhand, thats out the window now. Thats a very very important change in Consumer Behavior<\/a> that you should start watching. Stuart im glad you filled me in on that. Hang on a second. A comment from d. R. . Yeah, i think mr. Bloomberg has sorely missed the point here. Because this is hurting retail a little but what its doing, its allowing these people to buy upscale clothes that they wouldnt normally be able to afford, to rent it, to look nicer and to turn it back in, even when you are going out for a big gala event, you can rent ball gowns from rent the runway. Yes, you can. So i think that mike has missed the point and that this company is something to keep an eye on. Stuart we are just giving an extraordinary commercial for rent the runway. They didnt pay us a dime. Um goi im going to move on to target, they are expanding their grocery delivery service. Are they behind on this . It seems like a very good idea in these times of virus but are they behind . Well, you know, color me a skeptic but they are adding milk and booze to the pickup line. This is innovation . They should have been doing this already. Im not, you know, thrilled at their innovation right here. I think its great they are doing everything they can. The good thing here is this rising tide is lifting all boats for the u. S. Consumer. Amazon competing, walmart competing, target competing, you as the consumer is the winner here. I really dont think just, you know, adding milk to the pickup line is cause for celebration. Stuart okay. You straighten me out on so many things, im really happy about that. Arent you glad im here . Stuart yes, i am. In fact, we will invite you back soon, too. Wonderful. Stuart okay. All right. Lets check that market. We are 15 minutes into the trading session. This is a wednesday morning and we are up 550 points. Big drop yesterday, back up 500 today. Heres the allimportant anxiety indicator. The tenyear treasury yield, down today to. 97 . The anxiety is that money is flowing into the treasury market, pushing up the price and the yield comes down. Its an anxiety indicator, not looking good right now. 96 as we speak. Gold, not doing much. Its not really been much of a flight to safety throughout this virus period. Its up, what, down 70 cents at the moment. But oil, that struggled back to 48 per barrel. It was at 44 just a few days ago. Next case. Facebook, bowing to regulators over libra. Tell me more. Susan remember facebook and libra being this cryptocurrency project that would create a single Global Digital<\/a> currency that any of the 1. 7 billion users could just send over with no bank account, no money and could just send over as a text . That has changed because of the regulatory environment. People are concerned about the data being shared within the Facebook Community<\/a> so there has been a rethink. Now they are recasting libra as a mostly Payment Network<\/a> so you would use multiple coins according to people familiar with it so with the wall street journal, so instead of just being backed by pure crypto which has a lot of the community probably the most controversial part of it, that and the facebook linkage, but instead they will back it with real currency. Stuart thats interesting. Thats quite a development, actually. It really is. Susan after a lot of people bowed out, yes. Stuart for sure. Hold on a second, d. R. I want to get back to the tenyear treasury yield. We just im sorry,. 96 . Look who is here. Jay farner, ceo of quicken loans. This man is a big hitter in the mortgage market, are you not . Thank you. Thanks for having me here. Appreciate that. Stuart a little compliment. Hey, the markets up. Im feeling generous. Thats right. I can sense the energy. Stuart im told that refi activity last week was up 26 . New Mortgage Applications<\/a> up 15 . Thats because the drop in Mortgage Rates<\/a>. Rates are great. I would say we were up probably closer to 40 in the last week. Stuart in the last week . In the last week. Things are booming right now. With Interest Rates<\/a> below 3 on the 15year and approaching 3 on the 30year, its probably one of, if not the best time ever to refinance. Stuart i can refinance through you . Well, of course. Rocket mortgage is one of the technologies we rolled out and so its quite easy, people jump online, 10, 15 minutes, put in the application and in 30 days, you are closed and lower Interest Rate<\/a>, lower payment. Stuart okay. Look, i have to take issue with you. Okay. Stuart you say i can get a refi through you, its really easy, just go online. Its not easy. We need to do your mortgage, i think. Stuart but its not. I mean, you have to search everywhere for this, that and the other. Youve got to use these passwords here, passwords there. Things have changed. A lot of our clients, they download their assets, we can determine their income all electronically so the documentation is very limited. In many cases, people will get a property inspection waiver so an appraiser doesnt need to come to the home. Even if they do, its quite simple. I think our average turn time on a refinance at this moment in time is still below 30 days. Stuart okay. We make it easy. Stuart you are beginning to convince me here. My banker is going crazy, by the way. Do you think we are going to see Mortgage Rates<\/a> fall some more . Look, this drop in the tenyear yield is very recent. Literally a week old, thats all you got. Have we got a ways to go to go down on Mortgage Rates<\/a> yet . I would be surprised if we see them go much lower. I know they track the tenyear treasury but there is some only so far, we are getting compression at the end of the curve and with demand the way it is, theres only so much supply out there. So i dont think you will see Mortgage Companies<\/a> dropping rates. This is about as low in my 25 years that i have ever seen. I would hate to see somebody wait and miss out. Now is about as good as it gets. Stuart thank you very much for being on the show. Thanks for having me. Appreciate it. Stuart if youre not careful, i will come to you for a mortgage. You wouldnt want to deal with me. Thank you, sir. We do appreciate it. Thank you. The hate for the president and his supporters reaching a new level of what im going to call derangement. A democrat from colorado says the spread of the virus at a trump rally would be a good thing. We will let loose well, Brian Kilmeade<\/a> will let loose on that later in the show. The virus disrupting supply chains in china, so what do we do about it . I will ask gordon chang if a real big change is coming for our supply chains. Well be right back. 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I dress how i feel. Yesterday i felt bold with boundless energy. This morning i woke up calm and unbreakable. Tomorrow . Who knows. Age is just an illusion. How you show up for the world, thats whats real. Whats your idea . I put it out there with a godaddy website. Make the world you want. Stuart i want to bring in asia watcher gordon chang to discuss the supply chain coming to us from china, and maybe some changes that we can expect. Gordon is with us now. Welcome back, gordon. Good to see you. Thanks, stuart. Stuart we are very much reliant on chinas production, chinas manufacturing, for a whole range of supplies coming to us, especially drugs. I see a change coming and a big change. How about you . Well, certainly. In the pharmaceutical areas where we are critically dependent on china, antibiotics either 80 come from china or 97 , depends who you talk to. This is a strategic issue. So its not its gone beyond economics. There will be changes to that. Also, when you talk about some electronic products, theres going to be changes there as well because thats also strategic. China is using its role in the supply chain to spy on americans and others. Thats going to end fairly soon. Stuart fairly soon. It took awhile, though, to change some of these things rrnrrn around. Yes, of course it will but i think the decision is baked in. It might take a little bit longer under a democratic president but i think President Trump<\/a> is going to move pretty fast on this. Thats one of the first things he did coming to office, 2017, july, he appointed that task force on National Vulnerability<\/a> in the supply chain. Stuart okay. Weve got reports this morning that smog is back in some major cities in china. In other words, the factories are back up and running, they are belching out the smoke so the smog is back and the traffic jams are back. I suppose you could say that those are two positive indicators on the grounds that china is back to work. Well, it certainly is. Xi jinping last month said chinas got to get back to work. So workers are returning to job sites. The issue is, once you put them in the job sites before the virus has been subsided, whats going to happen is you are going to have new infections and people can be reinfected. So this probably is going to have an effect of prolonging the epidemic. But short term, this is really very good for the chinese economy. Stuart and very good for america, too, as a matter of fact, if they are producing and its coming here, good news. Thank you very vp for joining us. Appreciate it. Next case, we have Kim Kardashian<\/a>, shes headed to the white house 10 30 eastern this morning. Shes talking Prison Reform<\/a> with the president. When it happens, you will see it. I say the democrat contest for the nomination is down to a twoman race. I will explain it all. I think both of them actually, bernie and joe, i think both of them have got a rather dark vision for americas future. 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And they werent saying much. Thats what we do at 3m, we listen to people, even those who dont have a voice. We are people helping people. Stuart precisely 10 00 eastern time. The market is holding on to much of the rally. Were up 450 points as we speak. The 10year treasury yield right now is at,. 95 . It is getting close to the record low we touched yesterday, well under 1 . We have the latest read on the Services Sector<\/a>. Susan . Susan very good. 57. 3 in the month of february which is higher than january. That is an acceleration. Services make up 70 of the u. S. Economy. The fact were looking at big growth when it comes to services in the u. S. Very positive, especially for the u. S. Economy. Stuart it is a big number. A very positive number. Ashley we hit a fivemonth high in january. That will be more improvement than that. Stuart you have Something Else<\/a> . Susan highest since last year. Oneyear high for ism services number. Stuart let me break away for a second. I have to update, we have fresh news on the virus here in new york. What you got . Ashley from new york governor cuomo, we talked about the gentleman in Westchester County<\/a> who tested positive for the coronavirus. The governor now saying that his wife, son, daughter and a neighbor have also all tested positive for this virus. His son is a 20yearold student at Yeshiva University<\/a> in new york city. We understand the neighbor who tested positive drove the man to the hospital. This is easily contracted persontoperson. Stuart get Strong Service<\/a> sector number, bring in shah gilani. You told us recently youre not buying at this point. Youre not buying yet. This Services Sector<\/a> number is so strong, really is strong, given the market a bit of a lift. Youre laughing. Are you tempted to come back in and buy . Ive been tempted, stuart. I dipped my toe into disney today only see my fortunes reverse on that quickly yesterday. I still love disney. It is one of those stocks i want to buy into. That list is getting longer. Dipping my toes in day before yesterday was a bit, i think maybe the worst is past. I want to start to accumulate some stocks. Action the following day obviously turned my thinking around. Ism number is absolutely fantastic. Relative to what is happening in china, the u. S. Economy is so strong, it is fundamentally sound. I think a lot of money is coming in. The market will hold up barring anything further happening in china, which is really in dire straits. Stuart hold on a second for me, shah. I have a couple items to deal with. Happening this hour. Treasury secretary Steve Mnuchin<\/a> is on capitol hill. He is testifying about the budget. Dr. Anthony fauci also testifying about the budget but we want headlines on the virus. If we get them you will hear them real fast. Dow is up nearly 500. Now this. The state of play for the democrats. It is a twoman race, 78yearold socialist, Bernie Sanders<\/a>, versus 77yearold socalled moderate joe biden. Mike bloombergs campaign is evaluating its future, having spent so much to achieve so little he looks about done. Elizabeth warren should drop out soon after coming in third in her home state massachusetts, and forth in her native state of oklahoma. Biden versus bernie. It is going to be a bareknuckles fight. Latest count, 453 delegates to the convention. Bernie has got 382. You knead 1991 to secure the nomination. Okay. Even if biden sweeps the table in the remaining primaries likely to be a highly contested maybe even brokered convention. I think that that is good news for President Trump<\/a>. State of play in terms of policy. More good news for President Trump<\/a>. Both Democratic Front<\/a> runners would raise taxes big time. Both would clobber Americas Energy<\/a> dominance. Growing the economy is not the priority for either of them. These guys are job killers. Next, the ability to perform on tv, very important in modern politics. More good news for the president. Bernie is permanently angry. He has no humor. Like all socialists he is resentful of success. That doesnt play well on the screen. Joe biden stumbles and appears unfocused. That is amplified on tv. And so are his gaffs which will be used against him over and over and over again in trumps commercials. Here is the contrast. President trump goes into the election with a bright, positive, vision, middle class tax cuts, full employment and prosperity. He is really, really good on tv. The democrats whether they pick joe or bernie, what they go into the election with a victims view of america and that doesnt play well on television. Listen to this. We are tied in florida and i believe were going to win in texas. All i can tell you is that we have had a great, Incredible Group<\/a> of thousands and thousands and thousands of volunteers in texas, in california, all over this country. I dont know what will happen later tonight. Were doing well in texas right now. [cheering] stuart well, he didnt do that well in texas. Actually he lost in texas. He came in second, 33 . Biden 30 with bernie. Lets bring in jason chaffetz, fox news contributor. Seems to me the democrats are rejecting socialism big time or am i reading my own opinions into this . Well i think it is more of a split ticket actually. When you see Bernie Sanders<\/a>, who is considered a joke in the United States<\/a> senate, he has been there for a long time. Never passed a single bill, i was there eight 1 2 years. I passed like eight bills. He has been there for decades, never passed a single bill. He represents the radical left side. They try to pin joe biden as some sort of moderate. He is not a moderate. He is out there promising to raise taxes. His position on illegal immigration is just unbelievable. He buys into this whole Green New Deal<\/a> plan. When he is exposed for what he really believes, i think people look at that, say, thats pretty radical and off to the left for former senator from delaware and former Vice President<\/a>. So, i got to tell you, there is Enthusiasm Gap<\/a> between donald trump and the other two. Bernie sanders has a legitimate base of people that support him but joe biden, lucky if he has 15 people that show up at his events. Stuart now i think President Trump<\/a> looks real good to be reelected. I dont think joe biden and Bernie Sanders<\/a> have much of a chancer. But am i committing the same mistake as people made before the 2016 election writing off donald trump as an impossible candidate but eventually won . Am i doing the same thing with bernie and joe . You know, when you would look, say donald trump as the candidate, people say, oh, that cant possibly happen, i think of like nevada where all of a sudden he put out one tweet, donald trump would have tens of thousands of people to show up. He had a base of support, groundswell that washington, d. C. , didnt understand. That is not happening with joe biden. I have never met a person, who said, boy i cant wait for joe biden to get in there. I just dont see that. I think that Enthusiasm Gap<\/a> is very different. I think if donald trump plays his a game, he wins, he wins handily, this looks more like Walter Mondale<\/a> running against Ronald Reagan<\/a> maybe where he wins one state, his home state of delaware. Stuart i remember that you dont. Simple as that, jason. I do remember that in 1984. Jason thanks for being with us today, sir. Always appreciate it. Thanks, stuart. Stuart Edward Lawrence<\/a> is with us. Wait a minute, edward is in vermont, what is the mood like there, this morning . Bernie didnt get that many votes not as many as in 2016. Reporter exactly not doing as well as in 2016. There is a little disappointment among senator Bernie Sanders<\/a> supporters here in vermont. However they are hopeful, they were hoping to edge out texas but hopeful they got california. That will propel them for the rest of this way. Last night senator Bernie Sanders<\/a> told a frenzied crowd that you know the political establishment will not be able to beat president donald trump. Listen. You cannot beat trump with the same old, same old kind of politics. [cheering] what we need is a new politics that brings workingclass people into our political movement. Reporter Bernie Sanders<\/a> will work on the ground game going forward. He had a huge ground game in california where he took that state. He is hoping to do that in washington, some other states happening next tuesday he believes. That Ground Support<\/a> will help inspire other people to his movement, as he calls it. Back to you. Stuart only time will tell. Thanks, edward. All right, breaking news, axios reports that Mike Bloomberg<\/a> is, suspending his campaign. That is a report from axios. Susan not surprised. Poor performance. It was 12 1 2 million for every delegate he won last night. That was the analysis we did here at fox. Our own analysis he actually didnt spend on any of the states after super tuesday. So i think really dependent how he would do last night whether or not he would continue to spending more money to propel himself forward. Stuart doug schoen, frequent guest on this program, a Bloomberg Campaign<\/a> worker, he just confirmed bloomberg is suspending his campaign. Thats confirmed that he is suspending his campaign. Now that is of no Immediate Impact<\/a> on the market but i think the market will digest this. It is really a twoman race for the democrat nomination. Ashley yes. Susan wouldnt it be positive, he is not splitting moderate vote with biden. Biden has better chance seizing the nomination . Stuart that is ashley positive momentum for biden, no doubt. Stuart shah gilani with us, do you think this is market plus, bloomberg suspending his campaign, he is out . That would throw more support to socalled moderate joe biden. I have not seen any market reaction. Is it a plus for the economy and the market . I dont know that it is a plus. I dont see it as a plus. I see it as a plus for biden. The commentary moderates leaning more towards biden coming off the bloomberg camp is likely for sure. I dont think the markets look at this. I dont think the markets saw bloomberg having much of a chance. He got into the race far too late in my opinion, really didnt have. Of a chance no matter how much he spent. I dont think it will have impact on the market. The fact these two candidates, bernie, joe, one will go up against President Trump<\/a>, i think speaks to the fact that the divide between them will be so demonstrable on television i dont think either one of them have a chance. Stuart i believe were the first to report this. Im looking at other Television Monitor<\/a> screens there, other networks. I think were the first out there with this news. Bloomberg suspending his campaign. Big deal. Shah gilani, thank you very much for joining us and i do notice by the way the dow is up 500 points. Maybe that was a tiny bit of a blip there from the bloomberg news. Lets go over this. Check the markets. Up 508 for the dow. 48 for the s p. The nasdaq is up 125 points. Next Bernie Sanders<\/a>, yeah he took california, the biggest prize in super tuesday but i say he wouldnt have won it if it werent for all those early voters. Larry elder, our voice of reason from california joins us. What does he think about that . It was a huge night for joe. He won nine states. It was all thanks to key endorsements from africanamericans in South Carolina<\/a>. Next, South Carolina<\/a> senator tim scott, he is on the show and he is next. Plus happening this hour, Kim Kardashian<\/a> will head to the white house. She will meet the president and Jared Kushner<\/a> over criminal Justice Reform<\/a>. Bring your headlines if we get them. 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Stuart back to breaking news i believe we broke first. Mike bloomberg suspended his campaign. He will support biden. The statement please. Ashley he said three months ago i entered the race for president to defeat donald trump. Today i exactly leave the race for the same reason. It is clear making achieving that goal will make it more difficult. After yesterdays results the delegate math is virtually impossible and viable path for the nomination no longer exists. He is also backing joe biden. I know joe for a long time. I know his decency, honesty and commitment to issues important to our country including gun safety, health care, Climate Change<\/a>. Good jobs. Stuart in other words he is throwing his support to the other moderate if you want to call joe biden a moderate. That is going down well on wall street. Look at markets. Were up 600 points. Were up about 470 when this news hit the market. Now were up 600. By the way, lets check the 10year treasury yield again please. Moments ago we were at. 95 but weve gone up a bit from there to. 98 , okay. Ashley wow. Stuart some money out of treasury bonds. Some into stocks. Because of bloomberg. Susan what do you think about the strategy putting all your eggs into super tuesday. Didnt work for bloomberg. Didnt work for giuliani. Seems like a losing strategy. Stuart i wonder if they do super tuesdays in the future . Will they box themselves in like that . That is open question. Susan very good question. Stuart lets stay on politics, i say joe biden is now the clear winner after super tuesday. He picked up key endorsements from prominent africanamericans in South Carolina<\/a> and he swept the south. Look at this. In 201690 of africanamericans went for hillary. 8 for President Trump<\/a>. Tim scott, South Carolina<\/a> republican. Mr. Senator, great to have you with us today. Obvious question, may i start with this one, what proportion of the africanamerican vote will President Trump<\/a> will get this time around . No question when you look at president S Performance<\/a> he will see marked increase in africanamerican support. He had 8 in 2016. I predict closer to 12 . That is 50 increase. The trump economy is something to be, cannot be rivaled in my lifetime. Think about the fact that unemployment rates for all minority groups and for the country are at alltime lows. For woman, a 70year low. The trump economy is producing results that we have not seen in my lifetime. I would love to see that race against whoever the socialist put up next. Stuart the socialists. You include joe biden in that one . He wants a 15dollar minimum wage. That is artificial increase that will hard consequences within our economy. Stuart absolutely it will. If there is a swing as youre suggesting, a swing in substantial portion of the black vote to President Trump<\/a>, does that guarranty a trump win and guarranty a democrat loss . If we can get to 14 or 15 of the africanamerican vote, based on where we live around the country, there is no doubt that would be an absolute guarranty victory for President Trump<\/a>. If you get to 12 that puts us in the 80, to 85 range. I would love to be there. I think well get there. Not simply the economy. The president outperformed on criminal Justice Reform<\/a>. Supporting historical black colleges and universities. Research on scientific basis for sickle sell anemia. There are a lot of stories and narratives i look forward to contrasting the Democrat Party<\/a> which increases wages, which means well lose jobs. This will be very interesting race when the definition of moderate starts with socialism light. Stuart my how times change. I do want to ask but the virus. You were in the room yesterday with the president. What is your judgment of how the president is handling this problem . I think President Trump<\/a> has done a very good job of evaluating, analyzing and then reacting to what is necessary for the American People<\/a> to have confidence that our medical experts are major part of the apparatus making decisions around the coronavirus, number one. Number two, he is putting the right people in the right places so as to prevent a widespread of the virus. What we can expect however is more cases. We had less than 10,000 people, maybe less than 5000 tested. By the end of this week well have the ability to test hundreds of thousands which means numbers go up on folks who have been infected with it. The great news the containment strategy the president presented at the beginning of the virus, saved us months and months of time, hundreds, if not thousands of lives, administrations response has been strong and it has been solid and it has been consistent. There are those who are alarmists out there who want to find any way to use anything against this president. That is not only troubling, i think its dangerous. We have to have confidence in our medical experts. Thank god, we have the Vice President<\/a> leading the charge. Stuart calm down, everybody. Senator tim scott. Absolutely. Great to be with you. Stuart more on the virus. Iranians and were told, continue to lick the shrine qom. It has serious consequences. Ashley it does. Two men were arrested in iran for doing this. These videos gone viral seen by over a Million People<\/a>. The two men arrested we dont know where that gentleman is one of them. They face two months to two years in prison, up to 74 lashes in a flogging. Here is the interesting story, the iranian government has requested the closure of all the major shrines but the powerful claire ricks either refused clerics refused or completely ignored that request. Tens of millions of people visit the shrines across iran every year. That is why theyre having a hard time preventing the spread. Stuart theyre supporting it. That is what theyre doing. Quickly, italy, School Closure<\/a> is it confirmed . Ashley it is back and forth. The media in italy says yes. The Italian Government<\/a> we have yet to see anything official. Theyre seriously closing schools and universities until march 15th. They have done everything they can. They have the second highest death rate, one of the reasons for this belief the italian population is the second eldest in the world behind japan. Stuart it is. Ashley there are more vulnerable patients to the virus. Close to 80 deaths. Stuart more action by a company to do something about the virus. Twitter . Susan providing a platform for communication. Twitter says the Government Entities<\/a> that want to disseminate Public Health<\/a> information will be permitted to promote ads on coronavirus. They say that though they will halt any attempt by advertisers to opportune is i cannily target inappropriate ads, facebook in a long blog post, Mark Zuckerberg<\/a> says w. H. O. Can advertise as much as they want on facebook so the message gets out there. The Tech Companies<\/a> are trying to provide platform for communications. Stuart a Prison Reform<\/a> group with Kim Kardashian<\/a> is meeting the president. We hope to get the president on tape maybe answering some questions. Not sure about that. If he speaks, you will hear it. Youngsters did not turn out to vote on super tuesday, not in any numbers. That hurt bernie. Well break it down with kristin tate. Young americans for freedom and liberty. She is an analyst on that next. 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Do you have any lollipops in there . laughing no, sorry. Were helping all kinds of businesses go beyond customer expectations. How can we help you . Stuart let me alert you one more time. Getting something from the president. About to meet with Kim Kardashian<\/a> on Prison Reform<\/a>. If he says something, you will hear it rapidly and that is a promise. Update the virus in new york. My goodness, it is spreading, ashley . Ashley governor says a man in his 50s in Westchester County<\/a>, his wife, son, daughter and a neighbor also tested positive for coronavirus. The 20yearold son we understand is a student at Yeshiva University<\/a> in new york city. That school is closed foretoday. 14yearold daughter is a student at the sar academy in the bronx. We talked about that yesterday. By the way the neighbor who tested positive was the person who drove this gentleman to the hospital and also contracted the coronavirus. Stuart that suggests how easy it is to transfer the virus and to get it. If you just drive somebody to wherever, you get it, thats a little, cautionary tale. Ashley it is indeed. Susan what a good samaritan. I love that. Great neighbor. Stuart this is important. Were up 645 points. Canada just dropped its Interest Rates<\/a> by half a percentage point. Bloomberg is out out of the rac. That backs up the moderate joe biden. The market likes it. Dow up 600. Oil inventories what have we got. Ashley up 785,000 barrels. We were expected a bill of 2. 6 million. Which didnt have as much as storage we thought we would have, socalled experts thought we would have. Put more pressure. Stuart up 1. 10 as as a we spea. Amazon employee tested positive for is. Susan selfquarantine. He left work february 25th. They notified all individuals come in contact with the employee. South like Union Complex<\/a> in seattle. Dont forget in seattle, amazon employs about 55,000 workers. There is concern how much the virus spread. In that area king county, where seattle is, we had nine deaths reported and hundreds of coronavirus confirmations. There is concern about community spread. Stuart we heard seattle is not exactly a ghost town. Not much foot traffic. Really slow down in Washington State<\/a>. Next one, check costco, they have really benefited from shoppers flocking to their stores to stock up on vital supplies. Thats appropriate there for to bring in che wong, ceo of boxed, which is in fact an online costco. Che is a frequent guest on the program. Weve been with you since the very beginning. Welcome back. Just the last 120 seconds, oh, my gosh, what is going on in the world. Stuart really. You must be benefiting of people stockpiling. Can you give me numbers . I wish it would be under more fortunate circumstance. We sell hand sanitizeer and bacterial stuff. Traffic is up. For certain items it is up 5,000 . Stuart youre kidding . Were seeing run on package goods. Stuart do you have supplies coming in, antibacterials . Trying to get it as soon as possible. The minute it hits the dock it is out of stock. Next orders come in daily. As soon as we restock shelves it is going somewhere. Interesting trend, not only consumers but businesses as well. We see the average business order is up over 60 in terms of average order value over that same period. Folks generally buying break room items from us are going into health and beauty. So were seeing rises everywhere. Stuart what about nonperishable food . I think you do deal in that . In certain zip codes. That is increasing certain demand. Stuart tuna fish. Tuna fish. Tuna fish is self table. All the basics bottomed water, milk, folks are digging in, stocking up for the long hahm. Stuart it is a shame it has to be a benefit to your business because of this dreadful thing the virus, but, youre in precisely the right place to capitalize on it. Thats a fact. That is absolutely true. What we can do is maintain prices as low as we can for all the consumers as we always have. The same price if you go in buy it now, you would have paid four months ago. Stuart you will not ration by price . I dont think we do such a noble thing as serving in the military or serving in the government. We sell toilet paper and antibacterial wipes but at the end of the day we all do something for society. What i told the replenishment team this, is your moment. Try to keep it in stock. It is our little way of helping. Keep prices low, keep it in stock. Stuart can you give us any indication whether or not the supply chain for your products that you sell will break down or stall so youve got to say, okay, i can give you the tuna fish or give you the hand wipes but not for two weeks . Youre not there yet . Were not there just yet. What youre seeing, that will come in two phases. One were starting to see allocations from manufacturers, hey, i know you ordered 40 truckloads of it. We can only get you two. That will see disruption on the shelves. Next phase, luckily no one has seen it so far, at the end of the day, delivery has to happen by humans. Someone needs to packet. Someone needs to deliver it to you. Luckily knock on wood our health force is at same levels, healthy, so we can still fulfill the packages. Stuart can you give me an idea over the past two weeks how much is our overall business gone up . Hundreds of percents. Stuart hundreds of percent. Doubled, tripled, quadrupled business. Easily over double. Like i said on some items up over 50 x on some items. Stuart chieh huang boxed. Never thought five or six years ago we first met we would be here talking about this but here we are. Stuart thank you very much. Appreciate it. Wait a minute, whats this . Susan . Susan yes. Stuart what is this, fake meat cutting prices. Susan they have big competitors coming online. Nothing to do with the virus this is on competition, back to real business. Impossible reducing prices by 15 . Theyre charging 7. 90 to 8. 50 a pound for plantbased Meat Alternatives<\/a> this is growing market with beyond meat stock price rocketing a few hundred percent last year from its ipo. Projected to grow to 25 billion fiveyears time. Were sitting five billion. That is five times increase in five years. Stuart that is the projection. I dont believe it. Susan you dont believe it . Foot traffic increased when you introduce plantbased alternatives. Starbucks, mcdonalds, yum, white castle all doing the same. Increase of burger king i think 17 . Stuart put me down as beyond meat skeptic. Not quite the same as Climate Change<\/a> skeptic. Beyond meat exactly 100 per share. Overall the rally holds. Were at 5760 points on the upside. 560 points on the upside. Nice gain for s p and nice gain for the nasdaq. Show me health stocks. I morning. Why . Because Bernie Sanders<\/a> did not do very well yesterday on super tuesday. That means goodbye medicare for all. It it bites the dust. Health care stocks are rallying on that news. President trump once again hinting at his tax cuts 2. 0. Watch this. I like middle income tax cuts. I think it would be a good time. Reporter this year . Middle income tax cuts. If the democrats would approve it i would go along with it. Stuart middle class tax cuts. Bring in kristin tate Young Americans<\/a> for liberty analyst. I would love to see the tax cuts i think theyre necessary for President Trump<\/a>s reelection. What say you . Tax cuts would be great but only half of americans even pay federal income taxes at this point. Many americans dont even own stocks or financial assets. As a Campaign Issue<\/a> im not sure tax cuts will be a big one for trump ahead of november. Immigration stuart hold on a second, kristin, that assumes that the tax cuts the president is talking about are cuts in federal income tax rates. There are other taxes which you can cut which would benefit the middle class. Very true and trump needs to highlight exactly how any tax cuts will benefit all americans. Even if it is just an income tax cut, this benefits people who dont pay income taxes as well because we know tax cuts stimulate the economy, they create job growth. They stimulate market growth. Unfortunately democrats have been really great at telling people that tax cuts only benefit the rich. So trump needs to explain why that is simply not true. The president has also signaled that he is going to start to rein in federal spending over the next few years. So that would be really great to pair with tax cuts. Stuart we hear you. I wonder if the president does. Kristin, thanks for joining us. See you soon. Thank you, stuart. Stuart Bernie Sanders<\/a> won in california. I suspect he would not have won had it not been for all the early voters. They committed to him before they heard about joe bidens resurgence. Larry elder is coming with us. He is the voice of reason from california. 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Tell your doctor right away if you have new or worsening symptoms, including trouble breathing, shortness of breath, cough, or chest pain. Before taking ibrance, tell your doctor if you have fever, chills, or other signs of infection, liver or kidney problems, are pregnant, breastfeeding, or plan to become pregnant. Common side effects include low red blood cell and low platelet counts, infections, tiredness, nausea, sore mouth, abnormalities in liver blood tests, diarrhea, hair thinning or loss, vomiting, rash, and loss of appetite. Be in your moment. Ask your doctor about ibrance. Stuart well Bernie Sanders<\/a> did win california but look at that number on your screen. Four Million People<\/a> voted before super tuesday. They were early voters. Our voice of reason from california, larry elder, is with us. Larry, i think that made a huge difference because those people who voted early didnt get a chance to pass judgment on joe bidens resurgence after South Carolina<\/a>. Without those early voters i dont think bernie would have won. I think youre absolutely right. A lot voters four in 10 voted early when Bernie Sanders<\/a> was rising and were not around for that biden bump. Of those who voted, who made their mind up in the last 24, 48 hours, majority of them went to joe biden. I think takeaway for super tuesday, socialism take as beating. Stuart it is a wonderful thing, larry. They were staring down the barrel of having a democrat socialist on top of ticket. They didnt like what they saw. Old hands, david plouffe, james carville, donna braziles, barack obama leaned on people like mayor pete and klobuchar get out, support Bernie Sanders<\/a>. Theyre leaning on Elizabeth Warren<\/a> to get her to do the same thing. Stuart President Trump<\/a> tweeted a couple minutes ago, i will read it for you. The mayor of los angeles, Eric Garcetti<\/a> is dealing with us to try to get the federal government to fix the terrible problem he and the dems caused with the homeless and devastating effects having on the city which is a mess. I then watch him talk trash on me. What is your response, larry . No secret donald trump is disliked in california. Donald trump has been attacking california for sanctuary city policies. There is no love lost between the governor of california and the mayor of los angeles when it comes to donald trump. I told you before, stu, probably the only public figure more hated than donald trump in california is Charlie Manson<\/a> and hes dead. Stuart seems like from that tweet, seems like garcetti going to work with the feds, you know . That is progress . He is trying to get money. In order to get money you have to deal with the guy in the white house but again there is no love lost between the two of them. Donald trump has been adamant about california leftwing policies, about the debt that california is in. About the housing crisis that we have, number of people leaving california for all sorts of reasons. Again no love lost between the elected officials here in california, all of whom statewide are democrat and donald trump. Stuart okay. Larry, sorry to cut it short. I have an active news day as you know. We will get back to you real fast. That is a promise, larry elder. Sounds good. Stuart breaking in, president tweeting about bloomberg. Here we go. MiniMike Bloomberg<\/a> just quit the race for president. I could have told him long ago he didnt have what it takes. Would have saved himself a billion dollars. The real cost. Now he will poor money into sleepy joes campaign hoping to save face. It wont work. Well talk to Brian Kilmeade<\/a> about that. 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Call now to learn more. Stuart the rally, its holding. Were up 500 points for the dow, a strong gain for the s p and nasdaq. Two factors at play here. Number one, Bernie Sanders<\/a> did not do very well in super tuesday pry playerries. Therefore, he is probably not going to beat the president. Therefore, the market and investors breathing a sigh of relief. The other point, bloomberg just dropped out. That is helping the market too. The yield on 10year treasury is. 96 . If you know history of treasurys that is historically a very low level. Money pouring into the safety of u. S. Treasury securities. 10 51, we bring in Brian Kilmeade<\/a>, host of the Brian Kilmeade<\/a> show. He is out. What do you say. They had had him in polling second. Sanders, bloomberg, put whole legislature in there, the Democratic Legislature<\/a> in there to overturn all the gun laws. You would think the people of virginia might rally around him. Instead he finished single digits. He spent 17 million in North Carolina<\/a>. Just 170 million just to do well in the super tuesday states. It is an epic fail. Why . Because he actually governed as a mayor, kind of like a republican. He was strong on crime. He was prolaw enforcement. He cracked down on unions but was afraid to talk about that. He basically apologized what he did, but vote for me what i did. You cant do that. Stuart he was no good on tv. I dont care what your policy is, i dont care what youre apologizing for in the past you have to be good on tv you have to be a dynamic character who controls the screen. You want to do well in politics, control the screen, do well on television. He could not do it. Stuart, i dont think youre wrong but look at his competition. Is joe biden good on television . Stuart no. Thats what im saying. If he was competent as a billionaire but instead he just basically said, meet you in super tuesday, im not wasting my time in the little states i like it, heres why. People on the outside are looking at our system, thinking, well donald trump became president. They dont realize he never spent of his money doing it. He did free media. Took on allcomers. If Mike Bloomberg<\/a> was successful, for now on rich people would be running for president or just financing the right man or woman. To see tom steyer blow up and bloomberg blow up, made me feel better about the country and our process. Stuart agreed. Im expecting, im waiting for Elizabeth Warren<\/a> to drop out. I would imagine she is going to do that fairly quickly. It really would be a twoperson race . It is a fine line because the word is, there is tension between warren camp and the sanders camp. Now if they keep pushing Elizabeth Warren<\/a> hard to get out, she will just get out and not endorse. They need her to get out around they need her to go to bernie because not only did bloomberg get out, he said go to biden. Mayor pete said go to biden. Klobuchar said go to biden. Beto said go to biden a bunch of 9 s giving their 9 to somebody that needed it all and got it. Now they need warren. The question for warren, do you want to spend the rest of your life with Bernie Sanders<\/a> . You will never lose the label. Youre already not liked in your own state. The epic fail in new hampshire, got worse in her own state. Now if she sides with sanders and the squad, good luck with that at your christmas party. It will be a lonely, lonely career as you finish out the string in massachusetts. Stuart do you think she might want to be bernies vicepresident ial running mate . Maybe. But theyre the same people, just different genders. You need a moderate accepted by the mainstream if youre bernie. You dont need another leftwinger to, somebody a little bit younger and a different, and a woman. That doesnt check enough boxes for bernie. People are sobering up to right now. Stuart i want you to deal with this real fast. Democrat in denver catching some heat for a tweet which suggested the spread of the virus, spread it at trump rallies. I think thats awful. What say you . Number one, if you are a policeman on twitter which probably is lucrative and very prestigious position, that is something you take down and you act on. You dont act on what you did yesterday is took down a tweet that highlighted the gaffs of joe biden, because you dont need a Twitter Police<\/a> for that. You need Twitter Police<\/a> for this. Because some morons will see that, yeah, im running a fever. I feel a little clammy. I failed coronavirus test. I think i will hang out at a rally. It is just mean. Weve gone so i dont understand i hope we win. Now it is i hope you die. Not good. Stuart this person is an obscure person, not some front line politician i thought it was worth mentioning on the grounds this kind of thing is popping up, it is mean, nasty, vicious, nobody is going to like it. Brian, out of time. Thanks for joining us, sir. I was out of goose anyway. Stuart. Stuart youre never out of gas, never. Kilmeade, thank you, sir. Happening shortly, President Trump<\/a> hosts Kim Kardashian<\/a> at the white house. This is all about the criminal Justice Reform<\/a>. We got Lawrence Jones<\/a> to comment on that very shortly. I say, it wasnt a super tuesday. He only won four states. I say he has been exposed as a hardline socialist. It is not doing him any good. That is in my take which is next our Retirement Plan<\/a> with voya gives us confidence. They help us with achievable steps along the way. So we can spend a bit today, knowing were prepared for tomorrow. Wow dad, do you think you overdid it maybe . I dont think so. What do you think, peanut . Nope honey, do you think we overdid it . Overdid what . See . We dont think so, son. Technically, grandparents cant overdo it. Its impossible. Well planned, well invested, well protected. Voya. Be confident to and through retirement. Stuart whoa, its been quite a day, actually quite a couple of weeks. Lots of news to go at. I will start with the markets right now. We are off the highs but we still have a strong rally. This follows super tuesday, in which bernie went down and biden went up. Investors like that. Check the tenyear treasury yield. I think we are below 1 . Yeah,. 96 . Thats real close to an historic low, money pouring into safety and maybe, actually going into stocks as well. Interesting. Busy day in washington. The president meeting now with Kim Kardashian<\/a> on criminal Justice Reform<\/a> and Vice President<\/a> pence is going to meet with airline ceos to discuss tracking airline passengers. Very important. Any headlines from all of this, you will have it real fast. Now this. It was a very bad super tuesday for Bernie Sanders<\/a> and i think i know why. Hes been exposed as an unrepentant hardline socialist whose policies would destroy our economy. After he showed well in the early primaries, he came under a very intense spotlight. Establishment democrats were alarmed. It was all hands on deck to discredit his candidacy and it was easy. Bernie had praised communist cuba, fidel had a literacy program, what a guy. Bernie didnt mention the war camps where hundreds of thousands of youngsters taken from their families were taught to read communist propaganda, or the thousands of firing squad executions as fidel literally killed his opponents. In my opinion, it is contemp contemptible for a president ial candidate to support any murderous communist regime. Then there are his socialist policies. Massive tax increases, end private health insurance, the lunatic Green New Deal<\/a>, free college, et cetera, et cetera, et cetera. Hes been laughed out of court. Even the washington post, the ultimate trump haters, ran an oped saying its pie in the sky dreaming. Whats the cost of socialism, asked economist Robert Samuelson<\/a> . 50 trillion was the answer. Dream on, bernie. You would crash the economy. If you look at yesterdays super tuesday voting, you will see that bernie is not expanding his base of voters. As he had claimed. Africanamericans went overwhelmingly to joe biden. Suburban women went for biden. The youth vote didnt show up. Only one in eight voters yesterday were under 30. Hes losing identity groups, not winning them. Hes been exposed as a procommunist economy destroyer. Hes going to lose. But on his way out, he will wreak havoc within the Democrat Party<\/a> and open the door even wider to a trump win in november. Watch this. We have come a long, long way. Im here to report we are very much alive. The pundits have gotten it wrong over and over. I know youre not used to seeing a new yorker in southern florida in late winter, but unlike the president , i didnt come here to golf. By the way, this is my little sister, valerie and oh, no, you switched on me. This is my wife, this is my sister. We are going to do this, folks. Lets go on assi stuart by the way, that last hour, Mike Bloomberg<\/a> called it quits, suspending his campaign and getting behind joe biden. Happening right now, Elizabeth Warren<\/a> is talking to her team to assess her path forward after what was a disastrous night for her. Of course, President Trump<\/a> couldnt resist tweeting about bloomberg. Here it is. Mini Mike Bloomberg<\/a> just quit the race for president. I could have told him long ago that he didnt have what it takes and he would have saved himself a billion dollars, the real cost. Now he will pour money into sleepy joes campaign hoping to save face. It wont work. It is now between joe biden and Bernie Sanders<\/a>. Sanders taking home only four states versus bidens big haul of nine. His campaign resurfacing from the dead, you might say. Taking the lead now with 453 delegates. Bernies got 382. National surrogate for Bernie Sanders<\/a> is with us. You and i always have a good time together because you are totally wrong and im completely right. The democrats just rejected socialism. I think you know it. Well, you know, i still dont know what you mean when you say socialism, but if Socialism Means<\/a> government takeover of the means of production, we have never been talking about that. Stuart nationalized health care, massive taxation of the rich, Green New Deal<\/a>. Thats a socialist trojan horse. You know what im talking about. Hes a socialist. You have been rejected. When we talk about nationalized health care we mean people shouldnt go bankrupt because they get sick or die because they are poor. The profit system works well in almost everything in america but not in health care, where profits are driven by denying care and not giving people coverage. Thats how the Insurance Companies<\/a> make money. So we are talking about that as a specific item. Nobody is talking about taking over every single industry in america so theres no need to scare people. We think people simply should not go bankrupt because they get sick and shouldnt die because they are poor. Stuart okay. Can you show me any economist other than the frenchman in berkeley, california who has been advising you, that massive taxation would not bankrupt the economy, cripple the economy . Because i think it would. Show me an economist who agrees with you. Well, we know from the times of im not an economist like you are, but we know from the times of fdr that the policies that bernie are putting forward are very similar to what he was putting forward and his policies were so popular that he got elected four times and they had to change the constitution because of how popular his policies were. So lets not pretend like this is some new thing that we are proposing. We are proposing a safety net. We are proposing that people that yes, the rich get taxed more, that health care is something thats a human right. We dont think these ideas are so radical. Stuart you know you are beaten and you are toning it down. You are trying to look more moderate. We had a good night last night. The thing from california will come back with hundreds of delegates to be apportioned. We believe when this is all done, we are basically going to be neck and neck with biden and there are still 30 states to vote. Last night was not everything everyone expected, of course. The pundits were throwing this way out of sync but we do know that last night, bernie did extremely well with latino voters, extremely well with immigrant communities. We know that what we have going on here is this multiracial, multigenerational thing and next week in michigan, where i live, where bernie won in 2016, hes going to do very well here because we have diverse communities, the largest arab mooe american and muslim communities that will get out and vote for him. Stuart open invitation for you to come back next week after the michigan primary and all the rest of it and see if you are still in the race. Im sure youre still in the race but you are going to lose. Thanks for joining us. We always appreciate it. Love to see that smile. Youre good. John lonski, moodys analytics chief economist, with us now. Did the democrats just reject socialism . Well, they did, on super tuesday, without any question. Theres no doubt about that. The comeback by joe biden is shocking. I havent seen a comeback like this, never mind politics, sports, anything else, long period of time. He was written off as finished just a week ago. Stuart i think it was a rejection of socialism. I really do. The market today, despite evidence of a further spread of covid19, the markets sharply higher. That is in part because sanders didnt do that well. Stuart the trump economy, americans trade nearpaid nearly billion less in federal income tax in the first year after the president s income tax cut. We had the sharpest drop in payments between those earning between 25,000 and 100,000 a year. The president says this. Watch this, please. I like middle income tax cuts. I think it would be a good time. Reporter this year . Middle income tax cuts. If the democrats would approve it, i would go along with it. Reporter payroll tax cut . Payroll tax, yeah. Reporter you want it to happen this year . I would do it if they can approve it. Stuart lets speculate. Suppose we did get a middle class tax cut before the election. I think its highly unlikely. What would be the impact . It would be a positive impact, without question. Its not going to push Interest Rates<\/a> any higher. If they go any higher, the tenyear yield is under 1 despite nearly trillion dollar u. S. Federal budget deficits. Of course a lot of that is because of the fear of a recession, resulting from covid covid19. If the economy starts to tank and the Interest Rate<\/a> cuts arent working we have no choice but to have these middle income tax cuts. Stuart are you in any position to assess how much the American Economy<\/a> will slow this quarter and next quarter because people are not associating with each other, not traveling so much, there are closures here and there . You will see less than 2 growth over the near term but again, a lot depends upon how long this virus remains with us, does it begin to disappear once summer approaches, then you will see much stronger growth in the second half of the year. Interest rates will lag behind. Thats going to be a positive for household expenditures. We have had this tremendous surge by mortgage refinancing just reported. So that implies Household Finances<\/a> are stronger. They will have more money to spend. Stuart bounce back second half of the year. Thats going to be the case. Stuart hope youre right. Thank you very much indeed. Now, the next big state that is at stake is florida. Hillary vaughn is there, i think in west palm beach. Why is florida so important . Reporter well, they have 219 delegates up for grabs when they vote just a little less than two weeks from today. Two tuesdays from now. And thats the biggest state left when you have california and texas that voted last night, florida is the biggest one and that matters because when you have someone like Bernie Sanders<\/a> and joe biden who are just 71 delegates apart, everything really could be decided here in florida but also not just the primary. Into november, the general, this is the president s home state now so florida is a swing state, its a battleground state in november, so a strong ground game here in the primary could set them up for success in the general election. Stuart yeah, it is important. Good stuff. Thank you very much, hillary. The Federal Reserve<\/a> cut rates by 50 basis points yesterday. Today, canada cut Interest Rates<\/a> 50 basis points. Bring in Danielle Dimartino<\/a> booth, former dallas fed adviser. Can the worlds Central Banks<\/a> and finance ministers rescue the Global Economy<\/a> from the virus . Well, they certainly cant cure the virus. I think we know that. But they can indeed be look to be preemptive in trying to provide cushioning to economies as the virus rolls through one after another after another country and hits their Service Sector<\/a> much harder than the Manufacturing Sector<\/a> is hit. Obviously the Service Sector<\/a> is where the vast majority of americans are employed. I think the fed is trying to get out in front of this. The bank of canada followed suit this morning, where we are seeing one central bank after another, we had australia two nights ago, so this is a rolling progression, if you will, stu. Stuart john lonski still has his mic on so i will ask him a question. Do you think the worlds Central Banks<\/a> and finance ministers can bail the world out of the virus . Well, you know, europe, i think the overnight lending rate for fed funds is 0 . Japan is just under 0 . What more could they do in terms of rate cuts . Maybe what we have to start looking at are some type of program thats willing to back up those households, those businesses and maybe state and local governments that suffer because of this particular virus. A lender of last resort. Stuart we havent seen that yet. We havent seen that yet. Stuart danielle, do you think, does this situation now today and last week, does it remind you of 2008 at all . Well, in the sense that 2008 felt like a meteor had hit the earth. It was something that many of us had seen coming but just the same, when it happened, boy, did it feel like a shock to the system, and we had markets at all time highs and there was frothiness and there was overindebtedness and all of a sudden this is kind of revealed to be the case overnight. I think thats the parallel that you can draw given how long and extended this Financial Recovery<\/a> has been and the tremendous shock that we have seen not just to the stock market, but to Corporate Bond<\/a> markets as well. Its rare that you see Corporate Bond<\/a> issuance shut down for seven consecutive days. It was a relief to see the three deals get priced yesterday, meaning the bond market was back in business. Stuart john, real fast. This is not 2008. Its not 2009. Household sector Balance Sheets<\/a> are much stronger. We dont have the same weakness we had in Corporate Credit<\/a> back in 20082009. By the way, Corporate Bond<\/a> issuance just came through in january and february. Its strongest start despite covid19 on record. So you take a break for a few days. Big deal. Moreover, Corporate Bond<\/a> yield spreads, the junk bond spread, is well under where it was in 2008. Stuart theres a difference. John, danielle, both of you, thank you very much indeed for being with us on a very important day. Good stuff. Thank you. Moments ago, Kim Kardashian<\/a> arrived at the white house. Shes meeting with President Trump<\/a> discussing Prison Reform<\/a>. You never really know what you will see on Varney Company<\/a> or at the white house, for that matter. Any headlines, you will get them real fast. Thats her arriving. Now that Mike Bloomberg<\/a> is out, i say the race is going to come down to biden and bernie. The Trump Campaign<\/a> is next on that. Theres a company thats talked to even more real people than me jd power. 448,134 to be exact. 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[ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. The pundits declared the campaign dead, when we got to super tuesday it would be over. It may be over for the other guy. They dont call it super tuesday for nothing. We are going to win the democratic nomination. And we are going to defeat the most dangerous president in the history of this country. Stuart all right. That is bernie and biden. Bloomberg, by the way, just dropped out. Elizabeth warren is going to assess her path forward. Shes meeting with her team right now. Looks like its down to the two democrats, bernie and biden. Tim murtaugh joins me now. Blombe bloomberg is out. If he puts his money behind biden, and he might, is that going to worry you . He might do that. But its not the same as a candidate actually having that money inside his own camp. He would obviously be operating as his own sort of super pac which doesnt have the same impact. Look, the Trump Campaign<\/a> because of the president s success and unprecedented fundraising, we are going to have all the resources we could possibly need and then some so this campaign was never going to come down to money. Its going to come down to the president s record against a democrat, Big Government<\/a> socialist style democrat, who is going to be trying to upend all the good that the president has done. Thats what this is going to come down to. Not who Mike Bloomberg<\/a> is going to be backing with his checkbook. We have seen how ineffective that is. Stuart we should all be cautious about saying oh, bernie cant win, biden cant win, because you go back to 2016, and everybody was saying oh, trump cant win, laughed out of court. He won. Is it remotely possible that the same thing could happen this time around . This is not the same kind of scenario. In 2016, you had an open seat for the white house. Now weve got President Trump<\/a> who has a record to run on. You guys talk about it and cover it every single day. This is the best economy anyones seen in the last 50 years. The president has restored american might and it means something to be the United States<\/a> of america around on the world stage again. The president has a clear record to run on and his democratic opponent and we dont know who thats going to be, despite what happened last night, we dont know whos going to win, the democrat opponent will be running to upend all this success. It will be a clear contrast between someone whos got a clear record and someone who wants to wipe it all away. Stuart but the virus is going to be a factor in the election, and President Trump<\/a>s handling of it will be a key fact in this election. You comfortable with all of this . You have no choice, but it is an undecided, an unknown in the election, isnt it . I think we are seeing the American People<\/a> want to see their president be a leader in situations like this, like the coronavirus, and thats exactly what President Trump<\/a> is doing. He appointed a task force more than a month ago before the virus even had a name, in fact, so hes been on top of the case and you know the media and the democrats have been looking for something to use as a weapon against the president. First it was russia, then it was ukraine, now they are on about almost 90 of the coverage of the president regarding the coronavirus is negative. So its obvious that people think that that is a political weapon they can use against the president but the fact is, hes addressing it appropriately, calmly and professionally as a president should. Stuart you going to keep going with the big rallies, running the risk of a virus carrier being at the rally and having a big problem for all the rally goer snss . The president addressed that himself yesterday. He said he feels its safe. Theres lots of candidates have rallies, he has rallies. There are large gatherings in this country. He feels right now its perfect safe. Stuart thanks for joining us. We appreciate you being here. Thank you. Late deciders turned out to be really pivotal for joe biden in super tuesday. Tell me about that. Lauren not about money. Its about momentum. This is fox news voter analysis. It shows if you look at the late voters, they decided to go for biden in a big way. Check out minnesota. 55 of late deciders went for joe biden. Amy klobuchar endorsed him. She is the senator from that state. At the last minute, essentially. If you look at texas, 39 of the late deciders went for biden instead of orourke, the former congressman from texas also endorsed biden, which is amazing culmination of fortuitous events that certainly gave biden momentum last night. Stuart it certainly did. What about young voters . Bernie was dependent upon them. I dont think they voted in any numbers, did they . Lauren very low turnout. Heres the deal. He got the youth, 60 in california, colorado and in the state of texas, but fewer young voters turned out, if you compare super tuesday this year to back in 2016. Heres the thing. You know the young voters are likely going to go for Bernie Sanders<\/a> and the old people who are more reliable when it comes to actually voting, by the way, are likely going to go for biden but its that middle group, 40 to 65 years old, thats important for both of these candidates. Stuart very much so. Correct. Now lets get some information on the 14 states which went and had primaries yesterday. I want to know which of these which of these states is the biggest in terms of their economy, and which has the most debt . Ashley its the same state. California. No big surprise there. As for debt, california comes in at number one, 560 billion. Interestingly, texas, second at 327 billion followed by massachusetts, colorado, virginia, but as for the biggest economy, again, california. In fact, its an economy thats bigger than most countries. As we know, its absolutely enormous. 3. 32 trillion followed again by texas, North Carolina<\/a>, texas and virginia. Stuart bernie won it but i dont think he would have won it had it not been for the four million ashley early voters, yes. All the late developments. Stuart last one . Lauren i would make the argument Mike Bloomberg<\/a> helped joe biden because he threw all of his money and attack ads against sanders. In a sense, he was like a super pac for biden. Even though he was running against him. Stuart joe had a great night. We will go to retail. Theres a demand side of the equation on this virus, meaning people who stop going out, they stop mingling with each other, that could hurt the retailers. It cuts down on demand for products. The former top guy at apple and jc penney, ron johnson, on that demand side of the equation, next. Bernie sanders, many young voters sat out on tuesday. Lawrence jones has been to several sanders rallies. I will get his take on the youngsters who did not vote, next. We made usaa insurance for members like martin. An air force veteran made of doing whats right, not whats easy. So when a hailstorm hit, usaa reached out before he could even inspect the damage. Thats how you do it right. Usaa insurance is made just the way martins family needs it with hasslefree claims, he got paid before his neighbor even got started. Because doing right by our members, thats whats right. Usaa. What youre made of, were made for. Usaa stuart straight to President Trump<\/a>. I believe hes talking now at the airline meeting. Go. But its affecting the Airline Business<\/a> as it would, and a lot of people are staying in our country and theyre shopping and using our hotels in this country. From that standpoint, i think probably theres a positive impact but theres also an impact on overseas travel which will be fairly substantial. Mike, maybe i will let you give a little briefing as to what we just discussed. Thank you, mr. President. And grateful to have the opportunity to meet with the leaders of our Airline Industry<\/a> today. Mr. President , you said from early on that we were going to have a whole of government approach but the truth is, as evidenced by all these great industry leaders, its really a whole of america approach and the American People<\/a> deserve to know that according to all of our experts, the risk to the average american of contracting the crone acoronavirus remains thats largely owing the your decision, mr. President , to suspend all travel from china into the United States<\/a> and quarantine all americans that are returning. Its also owing to the tremendous cooperation of this industry, the Airline Industry<\/a>, because in addition to suspending travel from china, you recently made the decision to designate as do not travel certain areas of italy, certain areas of south korea, but we also at your direction worked with this industry so that now as of yesterday morning, all passengers on all direct flights from all airports in italy or south korea are being screened on multiple times before they board any of these airlines. We are grateful for that, mr. President. I know you are and everyone here should know that we are going to continue to follow the facts and the data. Dr. Birx is working closely with all our Health Officials<\/a> to determine what additional screening might be required in the United States<\/a> or in partners around the world. Our airlines are going to play a key role, mr. President , in preventing the spread of this disease and even earlier today, at your direction, we met with leaders of our Nursing Home Industry<\/a> to talk about the measur measures, increased measures to prevent the spread of infectious disease. We sent new guidance out to nursing homes. We will be announcing later today new priority of inspections for infectious diseases. We will be detailing that. We explained it to the industry today. And also on the issue of testing, mr. President , you have made that a priority. We will have over a million tests in the field today. I spoke to several governors this morning that were grateful for the fact that the changes you made this weekend through the fda now make it possible for state Health Clinics<\/a> as well as universities around the country to be able to conduct coronavirus tests, but well also be meeting this afternoon with leaders of our commercial laboratories to make coronavirus tests more rapidly, more widely available for doctors offices and medical clinics and consumers around the country. So mr. President , as you said, it is a whole of government approach but in a very real sense, a whole of america approach and ive already expressed and i know you feel a great deal of gratitude to our partners in the industry and in the Airline Industry<\/a> for acting on your priority to put the safety and health of the American People<\/a> first. Good, mike. Thank you very much. I just want to add, to go a little bit further, the Obama Administration<\/a> made a decision on testing that turned out to be very detrimental to what were doing and we undid that decision a few days ago so that the testing can take place in a much more accurate and rapid fashion. That was a decision we disagreed with. I dont think we would have made it but for some reason it was made. But we have undone that decision. Also, when people come in from certain areas where doing checks not only at the site of takeoff but at the site of landing, so when they land in our country, we will also do thats planes from certain destinations. I might ask doctor, if you could, i would like you to say a few words. You have been doing a fantastic job in just the short time, we havent had much time but you have been doing a really fantastic job. Please. Thank you. Before you came in, mr. President , we talked about which americans are most vulnerable and the fact that younger americans may not be as vulnerable so we are really focused very much in that way and i think the Airline Industry<\/a> can help us with any kind of screening required, particularly to protect our older americans. Good. Thank you. Thank you. Doug, do you have anything to say . Thank you for having us. Thanks for the work were doing jointly to keep people safe. Stuart the president with the Vice President<\/a> laying out the testing procedure, the checking procedure for flights into our country all across the board. Good stuff. The president is meeting with Airline Executives<\/a> as we speak. As for the markets, nice rally going on and its been holding all morning. Way down yesterday, up, what, 600 points on the dow as of today and right now. Nordstrom, they missed their sales target in the fourth quarter, reshuffled their executive suite. They are expecting 2020 to be a down year. The stock is down 4 . Big loss for nordstrom. Urban outfitters missed their profit target despite sales hitting a record. The stock is down nearly 10 . Retailers taking the hit there. Coronavirus has made a big impact on retailers, disrupting supply chains, on occasion, maybe keeping people out of the stores. Ron johnson is with us, the former jc penney ceo and the man who built apples retail operation. Am i right in saying that . You are right in saying that. How are you, stuart . Stuart very well. I just want to give you credit for an extraordinary job you did with apple. Is there any way you can assess with hard numbers what this demand side thing is going to do to retailers . Because were not shopping like we used to, were not going out and about. Whats the impact . Yeah. I think its big. The virus is not going to impact the supply side as much. Apples primary supplier of phones said they will be back to normal seasonal capacity during the month of march. So the supply side will work it through but the demand side is a really big one. As we just heard with the president s announcement on travel, the planes are pretty empty. I was at the airport yesterday. The planes are really empty. When people dont travel they dont buy, you know, things to take on trips. New york is heavily dependent on International Travel<\/a> for shopping. So i think there is a demand side thats pretty significant. Everyone talks about the virus stuart can you quantify it . I dont think its huge yet. This lack of travel. That may be hit. But people going out to the street, to the mall, im not quite sure its hit yet. I dont think we know yet. Its a pretty immediate thing. Everyone is changing behavior. We are all washing our hands more frequently. We are all paying attention to school announcements, is my school going to be open, what are we doing. Colleges like stanford are canceling all public gatherings even in advance of any big issue. So the moment you have uncertainty, consumers tend to hold back. Ive got to believe the feds announcement yesterday which was much bigger than i think most anticipated, was different by some underlying facts that theres changes happening in the economy. I think theres a short term demand side here we will discover in weeks ahead. Stuart short term demand side problem, does that mean, okay, short term and we bounce back . Short term. Stuart on the other side of it, we really have a nice bounce in sales when we are through this thing . I think we will have a nice bounce. The economys in great shape. We saw huge addition to jobs, much higher than anticipated. The stock market is volatile but its near alltime highs. I think people are feeling good. Mortgage rates are dropping. Theres a lot of good things. Its just that uncertainty of the virus which will have a Short Term Impact<\/a> because in todays media environment, everything gets amplified. And it impacts people and how they behave. Stuart its all my fault. I know it. Im sorry about it. Its all my fault. Sorry to cut this short but jampacked news day. Thank you very much for being with us. Thank you, sir. Much obliged. See you soon. Thank you. Stuart yes, you will, promise. Thank you very much. Young voters, they sat out super tuesday in large numbers. They just didnt turn out to vote. Lawrence jones is with us, fox news contributor. Now, you have been to a lot of these bernie rallies. Yeah. Stuart you have seen these youngsters. They are crowded with youngsters. Only one in eight of voters yesterday was under 30. Youngsters didnt vote. Didnt turn out. They didnt turn out but when they did turn out, they turned out for bernien sanders. Thats the argument a lot of pundits are making when you look at the numbers. Lauren went through the 60 in texas and california that showed up. They are not rejecting the socialism message but they arent getting out to vote. I think theres an argument to be made, do young people really believe that bernie is able to accomplish a lot of these things. Another thing that i think is important because all of this runs together, is that black voters rejected Bernie Sanders<\/a> message as well. This is a guy that pretty much depended on minority support, a lot of latino voters showed up for him, and young voters showed up for him. But black voters decided they werent going to believe in socialism. Stuart why . Why . Black folks traditionally, i always said they werent going to show up for bernie because black folks are traditionally conservative. They dont support the Republican Party<\/a> but they like moderates. What you see from Bernie Sanders<\/a> is this free, free, free, free, thats not going thats not whats taught in the household of black voters. Its just the fact of the matter. I understand the recruitment effort but black voters arent going to buy that. Stuart President Trump<\/a> is meeting Kim Kardashian<\/a> right now, white house criminal Justice Reform<\/a>. Why do you say its big . Outreach to minorities, really, isnt it . Its outreach to minorities and the message when it comes to criminal Justice Reform<\/a>, kim k has been very effective. Its not just her. People see her, shes the face of it, but theres an entire legal team that vets this stuff as well and this is the president s signature accomplishment. When you talk about black voters, the economy and this criminal Justice Reform<\/a> thats going to be able to steal some of the voters from the democrats. If the white house is serious about this, and really pushes this message, you can see a big game changer. Its up to them on the ground. Stuart tim scott thinks mr. Trump will get maybe 12 of the black vote as opposed to 8 in 2016. I do think its possible. Its not enough for me because i want to see 40 of us voting for the president but thats going to take a real pitch to black voters. Its going to be a lot of knocking on doors. If the president is willing to do that with his accomplishments, i think he can. Stuart get out there and crusade. He has to. Stuart if i can i dont thuse. Thank you very much for joining us. Bernie sanders won in utah. Is the state dancing with the socialists . Utah . Cant believe it. Utahs governor joins me next. I will ask him. I have an idea for a trade. Oh yeah, you going to place it . Not until im sure. Why dont you call Td Ameritrade<\/a> for a strategy gut check . Whats that . You run it by an expert, you talk about the risk and potential profit and loss. Couldve used that before i hired my interior decorator. Voila maybe a couple throw pillows would help. Get a strategy gut check from our trade desk. Well keep building smarter suvs. To help keep you focused on the road ahead. And. The road beside. Did we mention the road ahead. With an available best in class. Epa estimated combined fuel economy and the technology to practically park itself. This is the reimagined 2020 ford escape. Stuart the rally holds. We are up 479 points right now. We have been up 600 but who cares. Were up nearly 500 as we speak. Better check the health care companies. They are rallying because Bernie Sanders<\/a> had a real bad day yesterday. There goes, what was it, medicare for all. Okay. There it goes. President trumps talking. Listen, please. A lot of people are doing a lot of domestic business now, i can tell you. Theyre staying in this country. They feel safe. If you look at a percentage, we have a very very small percentage and a big percentage of what we have is when we brought in the 40 or so people from the ship. We brought them in, we immediately quarantined them but youre adding that to the numbers that we had which were very small. Now what were going to do is as people get better, because we have most of these people are getting better, some are already released, some are going home, some are, you know, getting a full 100 report, we will take them off the list. But we have a very small number of people in this country. We have a big country. The biggest impact we had was when we took the 40 plus people, theyre americans, i mean, i could say dont let them into the country but these are americans and they were literally stranded. It was very unfair. We brought them back, we immediately quarantined them. But you add that to the numbers. But if you dont add that to the numbers, we are talking about very small numbers in the United States<\/a>. We have all done a very good job, all of us and i think the news has been for the most part, the media has really treated us very fairly which i appreciate. I think its very important. Reporter is there anything that they should be doing differently since you think it is safe to fly, get on an airplane . [ speaking simultaneously ] reporter executives around the table, if you are a passenger, you get on that flight, we have been told wash your hands . Dr. Birx, maybe you can say something. We are always saying the common sense of washing your hands, not touching your face, ensuring that if you touched anything, you go and wash your hands again. 20 seconds with soap, hand sanitizers also work but i think i was very reassured to hear the Airlines Talk<\/a> about their cleaning procedures and their three levels of cleaning procedures because i think that will be reassuring to the American Public<\/a>. I havent touched my face in weeks. Weeks. I miss it. Reporter would you do anything to address some of the concerns of maybe travelers who booked their flights and they might be coming up on a trip and they might need to make other arrangements . What would you say about that . We just issued, we put out a statement recently, giving the customer the flexibility to book their travel in advance, if they find they want to change that later, change fees are waived. I think all of us are working to figure out ways to make sure theres flexibility. Oscar, how would you handle that . You have a lot of people they booked, now this is a time unprecedented in our history that we need to be absolutely understanding of peoples travel plans and like most of the airlines, we are taking appropriate measures to make sure our customers get the best treatment. I think we are very impressed with what the airlines do. Reporter mr. President , you mentioned obama era rule, you have changed regarding this virus. I didnt follow that. Well, lets talk about it. The last administration asserted fda jurisdiction over testing, and the development of tests like this. The president changed that on saturday so that now, as i spoke to several governors this morning, states now have the ability to actually conduct the coronavirus test in state labs, university laboratories, and thats because of the change the president authorized. Bob, you just might very quickly, on the changing jurisdiction of that, thats freed up more available testing. Thank you, mr. Vice president. So in the past, we used to be able to have laboratories that could develop what we call Laboratory Developed<\/a> tests and be able to apply them for clinical purposes. In the previous administration, that became regulated. So that now, for someone to do that, they had to formally file with the fda and what the president s decision did was allow that regulatory relief now, that those University Labs<\/a> and those other labs in this country now can be fully engaged in developing laboratory diagnostics, for the clinical arena so the men and women of this nation can get access and the doctors to get to know the extent for the patients theyre caring for. s the very very important. It changed the availability of testing overnight. It was a very big move and it was something that we had to do and we did it very quickly and now we have tremendous flexibility, many, many more sites, many, many more people, and you couldnt have had that under the obama rule and we ended that rule very quickly. Yes. Reporter mr. President , on the contact tracing, can you explain what youre hoping to get from these folks . What more information do they need to track or share with the government . What we are asking for is additional pieces of information so that the cdc, hhs and others can track individuals as they come into the country and as they continue on to their final destination, and if we need to from a Health Perspective<\/a> to continue to reach out, continue to track them, and to get in touch with them, looking for a few more pieces of information and data from them. [ inaudible question ] i think we will continue to have conversations but yes. Can i follow up on that question . The North Carolina<\/a> case was someone who was at the nursing home in Washington State<\/a>. Does the administration now have the Contact Information<\/a> who were with that person on the flight to North Carolina<\/a> . That Public Health<\/a> evaluation is ongoing right now. We are working with the airlines and obviously with the North Carolina<\/a> health department, cdc supports the local Public Health<\/a> department to really Work Together<\/a> to get all that information. Its in progress. Reporter but at this point, you do not have the passenger information for people on that flight . My understanding is we have the manifest. Now the trick is to go find them. Thats why were having this discussion. Much of that has been done already. Thanks, guys. Lets go. Thank you very much, everybody. No questions on the election. Thanks, guys. Lets go. Lets go. Come on, guys. Lets go. I think the election was great last night. It was great. The results were it was a great comeback for joe biden. Incredible comeback when you think about it. But if you would have looked, if Elizabeth Warren<\/a> would have done what she probably should have done from their point of view, he would have won, right . He would have won a lot of states including massachusetts, probably texas, definitely minnesota. So bernie would have won states that he lost and lost fairly easily but in particular, massachusetts, i would say minnesota in particular. I would also say texas. And some others. So had she, i put something out on it this morning, she was really a spoiler, because other people got out and those votes, they went to joe and those people really helped joe, you know, by getting out early. A couple got out with endorsement. In the case of Elizabeth Warren<\/a>, had she gotten out, it would have been a very different situation, i think. It would have been a very different night on one simple move. Had she left to pick up massachusetts, minnesota and probably texas, and those are the three i checked. I would imagine there are others he would have picked up, too. So Elizabeth Warren<\/a> was the single biggest factor in that election last night and it would have been a very different thing and not in a positive way for her. In a very selfish way for her. She was very selfish from that point of view. Now, do i care, no, because were just waiting to find out who were running against. But when you look at it pretty incredible. If she would have gotten out and endorsed, even if she didnt she didnt even have to endorse. I think theres a lot of bad blood there but had she gotten out and endorsed, he would have been a lot better off. [ inaudible question ] well, now i think its a very tough i think its tough. I think joe has an easier path right now, believe it or not. I see mini mike just got out. Hes going to, you know, try and save face by putting some money into bidens campaign and well see what happens. I dont think thats going to have an impact. You got to look, money has to be spent wisely. One thing this whole thing has shown, you cant buy an election. Its a beautiful thing. Steyer put in 250, 300 million and now who knows where he is. Hes home probably licking his wounds. Bloomberg put in probably a billion dollars and you know, sometimes you just dont have what it takes. I said to him its not easy doing what i did, is it. So its one of those things. But its going to be very interesting. To think this would have changed so much because if you go before saturday, before South Carolina<\/a>, i mean, he had joe had absolutely no chance, according to you people. But they used to say that about me, too. Not as much, though. I think i always felt i had a very good chance but i watch, they would say well, cant happen but it happened and it happened pretty easily. I think now, i think joe actually would have the advantage now. You know, if you look at the states hes going to with florida and others, i think hes got an advantage in those states. But again, had Elizabeth Warren<\/a> endorsed bernie, youre talking about a whole different subject. Thats not even a question. Youre talking about because he would have gotten 80, 90, i mean, we have gotte would have most of those votes. Reporter what do you think about the stock markets reaction today . Seems theres a sigh of relief. I have said from the beginning its partially this. Its a big part of this but its also the fact that they didnt like seeing what theyre seeing. But they dont like joe either. Joe has become, you know, a lot of people are with joe, if you look at those people theyre worse than bernie. In terms of being radical left. Some of joes handlers, thats what they are, handlers, i want to be nice but they are handlers, some of joes handlers are further left than bernie. Thats pretty scary. Reporter do you think bloombergs money will be more powerful without bloomberg himself in the race . It couldnt be less powerful because look what a billion dollars did. He won nothing. He got so few delegates, its incredible. I would say probably now hes spiteful, hes a spiteful guy, noi him well, hes a very spiteful guy, hes very upset. He made a fool out of himself, to be honest with you. Hes not too happy about that. I think the first thing he should do is fire his Political Consultants<\/a> because i know him, i could have told him very easily you cant win. You can put two billion in, you cant win. Okay. Thank you, everybody. Stuart the president s handlers, if i can call them that, want that press conference, its not a press conference, they want that meeting to come to an end before the president answers yet another question. Its very hard for him not to answer questions, especially when its just coming out of super tuesday. He loves this stuff. Hes very effective. Okay. Lets change subjects here and bring in matthew taylor, director of the creepy line. Thats a documentary that looks at how big tech influenced the 2016 election. Matthew, obvious question, did big tech, notably google, did they have any impact on yesterdays super tuesday, and if so, what was it . Look, we have be talking about how google may be manipulating elections and shifting votes through search results. If i was the Elizabeth Warren<\/a> campaign, i would be very curious because she has been the only one vocal about breaking them up, going after them. Facebook has said they would mount a campaign against her if she became the nominee. So yeah, i actually think that its not just against republicans. Its against anyone who is against their interests. Stuart have you got evidence that they sort of intervened in some. We have evidence from 2016 how they pushed hillary up and pushed trump down. I think that the thing is, if you track them, i think you would probably see evidence that there is, you know, different search results maybe lean towards a candidate would be more favorable towards them as president. Stuart do they really worry about being broken up . I mean you know, do they really . Or do they worry about being taxed heavily more to the point . I dont think taxation is the issue with them. They have tons of money. They have been fined tens of billions of dollars by the eu they are concerned about certain regulatory response that would be damaging. Stuart do you see the googles and facebooks of this world as essentially evil . Evil is a hard word. Facebook is more Traditional Corporation<\/a> that wants to make money. Google sees things as right and wrong which is difficult when you have a company that peddles information. If im looking for information, if they think information is wrong, they may weight the scale so i dont see that information that could be argued to be evil. Stuart is it true google knows absolutely everything about every individual in the United States<\/a>, you and i included . Is that true . I would say google knows more about us than we know about us. Stuart how do you say that . How do you mean . Look, because, every search you do tell google things you wouldnt tell your wife, best friend. You search for things. They collect the information. Add it to your profile. Stuart that is how they do it. Look at search . You can look up your own Search History<\/a> f if they link it with people that have advertising and ads track you, follow you. That is how the Business Model<\/a> works. It is surveillance capitalism. Stuart it means over the next two years they will be cone so dating power to advertise to more than anybody, consolidating media buy in everything. Stuart interesting prospect. It is. Stuart matthew taylor, thanks for being with us. Thank you for having me. Stuart we squeezed you in. Thank you, sir. Check the market, were holding on to a gain of 500 points for the Dow Jones Industrial<\/a> average. The nasdaq is up 119. The s p is up 48. Weve seen all kinds of sectors moving up today. Cruise lines actually gained some ground. Some airlines were up. Health care stocks zoomed. That is because Bernie Sanders<\/a> had a very bad day. Goodbye to medicare for all which ashley bernie relief rally. Stuart thats good. I think part of what were seeing now this, rally, is political because bernie did so badly, he scares the devil out of investors. Now it is bidens to lose by the looks of it. Bloomberg is out, giving his money to joe biden. That is extraordinary stuff. Ashley yes. Stuart we cover i had all. We got it all in. Like a horse race. Neil, it is yours. Neil what is weird about that thinking, joe biden could be much more competitive against the president , right . If you, regardless what you think of the president , like the markets, economy, all of a sudden threat of a real challenge looks more likely stuart hold on a second. I honestly think that how you perform on television is extremely important in modern politics. Neil absolutely. Stuart joe biden does not perform well but donald trump is brilliant. Neil well see. I never let that get in my way. You never know. It is weird. You can argue stuart i see your point. Neil interesting stuff. Great show as always, stuart. 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