Comeback this summer. The Election Campaign getting back to Something Like normal. Its all part of the great opening up which continues rapidly. Georgia was the first. New numbers show that it has bounced back very very quickly. Its economy has. New jersey has lifted the stayathome order. New york city subways have seen a considerable increase in ridership. And the money from the government is finally flowing to business, and get this, Mortgage Applications are surging, too. Add it all up and it looks like a much stronger summer economy. That outlook helping the market. Caution, however. The Federal Reserve releases its first Economic Forecast in six months this afternoon. That could really move stock prices. But right now, we are seeing a Little Movement to the upside, up 50 for the dow, up about, what, 12 for the s p, and another solid gain for the nasdaq, up almost 1 again and back above 10,000. Its great to be back. My thanks to ashley, susan and lauren for working so hard while i had a couple of days off. Thank you, everyone. Much appreciate it. Another big show on its way for you. Im going to tell you about my experience buying a pair of shoes. Yeah, wow. Varney company is about to begin. Stuart im going to start with big tech. Look at it go. These are this is premarket. These are quotes on big Name Technology stocks before the market opens. These are current quotes. Apple up another four, amazon is up 38. Facebooks up 2. 41 there. Thats a new high on microsoft, 191. Now, look at the big moves from those big tech stocks that happened yesterday. That fueled the nasdaq, going above 10,000 for the first time. This is yesterday. Apple was up 3 . Amazon up 3 . Facebook up 3 . Microsoft up less than a percent but as we told you, its closing in on another new high as of this morning. This is all about big tech. As our guest predicted, he predicted a record for the nasdaq on this program just last week. Watch this, please. Shah, it is wednesday. We are 2 away from a new high on the nasdaq. You think were going to gain 2 on the nasdaq by friday . We could easily do that, stuart. Easily. If not maybe this week, then certainly next week because the market has the momentum, there is plenty of money on the sidelines, a lot of money, institutional money has missed this rally and its going to have to come in and chase it higher. So absolutely. Stuart well, shah gilani is back with us this morning. We are not going to let you take a victory lap quite so quickly but im going to ask you this. Are we going to keep going up on big tech . Theres really no reason we cant go higher. In fact, theres no reason we cant go a lot higher. Money is going into big tech. The megacap tech stocks, because thats where the revenues are going, thats where the profits are, thats where the cash is building up. If these companies are the real deal, they have to have their own stuart thats what happens here. We just froze right there. Basically, shah gilani is saying yes, thats where the money is, thats where the profits are, yes, it can keep on going up. Hes back with us. Ive got to point this out to you. Mortgage applications, we got the word this morning, up 13 compared to a year ago. Refis up 80 versus a year ago. Do you think theres a possibility that we might see a shift here just in where investors put their money . A little bit of a shift out of stocks and a big shift into real estate as an investment . What do you think . I dont think so. I think its a little too soon to make a move especially into commercial real estate. Commercial prices, we dont know how its going to pan out. Residential has continued to do well. Residential pricing across the country, all good. Stuart thats what i mean, residential real estate. The baby boomers are retiring in droves. Theyve got money. The markets done well for them. Money out of the market and into a retirement home in florida. Thats what im thinking of here. Yes, i think that is going to happen, its been happening, its going to continue to happen. For the most part, i think investors will keep their money in the stock market because thats where the returns are. Yes, you will get decent returns on real estate but nothing compared to i think what you are capable of getting in the stock market. Stuart youre just like your old self three or four years ago. Buy it, buy it, buy it, dont stop buying, buying, buying. Youre almost back to that, arent you . Im still a little cautious because this market has just been so phenomenal, its risen a little too far, too fast for my liking. That gives me some pause for concern. One thing i want to point out thats made me very bullish, on every down day, the volume just falls off a cliff. For example, on friday, last week, we had the tremendous up day. Yesterday was a bad down day. Not a bad day, but bad enough down day, the volume was almost 30 less yesterday than it was on friday. It was 10 less yesterday than it was on mondays rally. So on days when the market is selling off, investors arent really coming in and selling. But on days when the markets going up, investors are coming in and applying a lot of capital into the market. Thats a very positive sign. Stuart it is indeed. Fascinating stuff. Shah gilani, thank you very much indeed. See you again soon. Im watching a couple of individual stocks here. First of all, look at tesla, please. What a ride. Now elon musk says its time to ramp up production of the semitruck. Tesla is a little shy of a thousand bucks a share as of right now. Im going to show you amazon again because later this hour, we have someone who says its going to hit 3,000 per share. Right now its a mere 2639. Got a loser for you. Gamestop. Even though it saw an increase in online sales of 500 last quarter, that was because of the lockdown, of course. They still lost a ton of money. The stock is down another what, 4 as we speak. Want to get back to the this is what i call it, the great reopening. Ashley webster, what does now, subway ridership, i know it was up. Im trying not to call it a surge. What does it tell us about new york city getting back to work . Ashley right. Okay. Phase one, the reopening began monday. Subway ridership on that day, on monday, 800,000 people. Now, to many people across the country it sounds like a lot. The average ridership prepandemic is about five and a half million. Ridership back at around 15 . Its still encouraging, 800,000 people, but we are seeing actually a bigger increase in people taking the bus which i find really interesting and even more interesting is the number of cars and trucks coming across bridges on monday morning was significantly higher than the year before. It was up 19 year over year. Last year we didnt have the pandemic. 268,000 drivers. In other words, people are saying forget public transportation, im going to drive myself into the city. We are seeing a lot of that. Stuart they are at least coming into the city. All right, ashley. Now, new jersey has lifted its stayathome order. What does that mean, ash . Ashley well, you can go out as long as you wear a face mask. Places of worship can reopen now at 25 capacity. They are moving swiftly, we are told, to phase two which allows outdoor dining, nonessential retail which actually allows customers to go inside. So look, this lockdown in new jersey, one of the most restrictive across the country, has been in place for nearly three months. The pentup demand to get back and get out is certainly there. So the governor lifting that stayathome order. One of the latest ones to do it, as i mentioned before, compared to the rest of the country. Finally, new jersey, getting it back together. Stuart im feeling that urge to get out and about. Thats for sure. Thanks, ash. At the top of the next hour, we will hear from treasury secretary mnuchin. Hes testifying on the hill about virus relief. What he says could move the market. Edward, do we know what he is going to say . Propered we d reporter we do, stu. In fact, he will tell the Senate Small Business committee we are poised for a very good phased reopening, pointing to a u. S. Chamber study saying 79 of Small Businesses are at least partially open in the United States. Hes also going to talk about how april was a record high for the savings of americans. That means more americans have more cash to spend. Hes also going to say the third and fourth quarters are going to be very big for Economic Growth partly because the Payroll Protection Program he said supported 50 million jobs. The direct payments the irs made to 160 million americans worth 260 billion, he will say that nearly all of the 150 billion for state, local and tribal governments have been disbursed as well as 27 billion approved now for 500 airlines to keep people on payrolls and help support that industry so a lot of money flowing through now in the economy and a lot of money yet to come in the economy. Hes going to have a very rosy picture for the future. Stuart yes, he is. That could be the big summer and fall of spending and economic rebound. We shall see. Edward lawrence, thank you very much indeed. Also coming up in the 10 00 hour, the House Judiciary Committee holds a hearing on Police Practices and Law Enforcement accountability. George floyds brother among those who will testify. Of course, we will be listening for headlines. We will bring them to you as soon as they occur. As for the futures, we are about fwhin20 minutes away from opening of the market and we are up across the board. The significant gain is in the nasdaq, the technology companies. They are booming again. Has the Republican Party picked its new Convention Site . Well, a new report says it will move to jacksonville, florida. Weve got that story. We have a jampacked show overall. Fox news sunday anchor Chris Wallace is on the state of the 2020 election. Brian kilmeade on the latest liberal hypocrisy and the stories Martha Maccallum, she had a powerful interview with new York State PoliceUnion President who is getting a lot of attention after railing against legislators and the media for vilifying Law Enforcement. Watch this. Stop treating us like animals and bums and start treating us with some respect. Weve been vilify ied. Its disgusting. Stuart the acting deputy secretary of the department of homeland security, Ken Cuccinelli, joins us next. What does the president plan to do about Police Reform . Keep it here. This is varney company. vo at audi, we design cars that exhilarate with versatility, whether on the track, or the everyday drive. Today, that philosophy extends to how we connect with you. We call it, audi at your door. Whether a remote test drive, shopping, tradein, or even service pickup, audi at your door can do this and more at participating dealers. The premium audi dealership experience, on your terms. Audi at your door. Yeah. This moving thing never gets any easier. Well, xfinity makes moving super easy. I can transfer my internet and tv service in about a minute. Wow, that is easy. Almost as easy as having those guys help you move. We are those guys. Thats you . The truck adds 10 pounds. In the arms. Okay. Transfer your Service Online in a few easy steps. Now thats simple, easy, awesome. Transfer your service in minutes, making moving with xfinity a breeze. Visit xfinity. Com moving today. Stuart illinois is considering Police Officers having to get licenses. Grady trimble is here. What is a police license . Reporter it would essentially give the state the ability to remove an officer. Right now, Police Officers in illinois are certified. They can lose that certification if they are charged and convicted of certain crimes, but if they were licensed, the state could yank that license for misconduct, not just criminal convictions. I want to show you a graphic. It shows you some of the professions illinois and other states issue licenses for. Accountants, interior designers, teachers. The mayor of chicago and the state attorney general argue the same should be the case for Law Enforcement. If i get a haircut, the barber is licensed by the state. Theres a uniformity in the professionalism and then they have to recertify themselves on a regular basis. Why wouldnt we have that for Police Officers . Reporter we reached out to the National Police association. They say they dont support this proposal without additional information. They say theres already oversight in place and they point out that every Law Enforcement agency across the state would have to be on board with this proposal in order to avoid a legal fight. Stu . Stuart got it. Thanks, grady. Next, the cancel culture continues. Whats this about gone with the wind, ashley . Ashley its been pulled by hbo max. Thats the newly launched streaming service. They decided to pull the 1939 classic out of its library, saying that under criticism of the movie and the way it depicts black people, in fact, john ridley, the screenwriter of 12 years a slave said this film glorifies the antebellum south. Hbo says it will pull it for now. Thats led to backlash on the other side. The Hollywood Reporter saying this is idiotic, we should learn from the past, not pretend it never existed. Gone with the wind won eight oscars, including best picture. Hattie mcdaniel became the first black american to win an oscar for her performance but apparently in this culture, hbo max says it will eventually bring it back but it says with a discussion of its historical context. Its gone for now. Stuart what about that show cops that deals with Police Officers on duty . What about that one . Ashley the paramount network was carrying that. That, too, has had the plug pulled on it. It was originally put on hold but now it looks like it wont come back at all. The 33rd season of this show, it was on fox for 25 seasons, the 33rd season was set to premiere on monday. A e has also pulled episodes of live p. D. Which follows. That has been pulled maybe not shelved for good. We have to wait and see. Cancellations going on out there. Stuart you got it. Thanks very much, ashley. Some democrats calling to defund the police. The head of the new York Police Union is now calling them out for that. Roll tape. Everybodys trying to shame us into being embarrassed about our profession. Well, you know what, this isnt stained by someone in minneapolis. Its still got a shine on it and so do theirs. So do theirs. Stop treating us like animals and bums and start treating us with some respect. Weve been vilify ied. Its disgusting. Our legislators abandoned us. The press is vilifying us. Well, you know what, guys . Im proud to be a cop and im going to continue to be proud to be a cop until the day i retire and thats all i have to say. Stuart that was impassioned plea, clearly. Fox is reporting President Trump will announce executive action on Police Reform soon. Lets bring in Ken Cuccinelli on the phone, acting deputy secretary at the department of homeland security. Sir, the democrats are talking about changing police tactics, defunding the police and changing their weaponry. Can you give us a hint without frontrunning the president , can you give us a hint as to what the president is likely to have in his list for Police Reform . On the phone well, i cant tell you the exact details, because its not really my place, but i think you will see a mix of legislative proposals that we can work on on a bipartisan basis just like the president did with criminal justice reform, and executive actions he can take on his own. We have more Law Enforcement officers than any other entity in america so were very invested in this effort. Were very committed to it. We were appalled to see what happened to george floyd. [ inaudible ] we obviously take steps to train to avoid those problems. Stuart what about confrontation of rioters . How could you reform the Police Response to a violent situation . On the phone well, once youve reached that point, stuart, there are some basic tactics you have to use to bring down the level of violence and frankly, you saw the president lead in that effort over the last two weeks. At the simplest level you need a more Significant Police presence [ inaudible ] innocent lawabiding citizens and their property against violent mobs, and mobs dont stop misbehaving if theres a small number of Police Stuart mr. Cuccinelli, im terribly sorry, sir, but you are cutting in and out. We cant follow the train of thought here. We have to break it off. I do apologize to you and to our viewers. We will try to get this back at some point in the very near future. Im going to check out the market. Weve got seven and a half minutes to go before we open up. This is a wednesday morning. We are going to be down ever so slightly for the dow but just look at the nasdaq composite. Up maybe 80 odd points at the opening bell, continuing yesterdays rally, which saw us go above 10,000 for the First Time Ever. Well be right back. Facing leaks takes strength. So heres to the strong, who trust in our performance and comfortable, longlasting protection. Because your strength is supported by ours. Depend. The only thing stronger than us, is you. And people you can rely on. Im a Dell Technologies advisor. Me too. Me too. Me too. And if youre a Small Busin