Add that to concerns over the virus caseload and youve got this. The dow industrials, down 700 yesterday, down maybe another 200 this morning. The s p down 80 yesterday, down another 20 today. The nasdaq yesterday, down 200 points. Today, down about 13 points. A sea of red ink over there. A big loss especially for the dow. 1. 48 million new jobless claims this past week. Now, thats not a good number and it pushed stock prices just a little lower when that news was released at 8 30 eastern. Now, today, President Trump heads to wisconsin. Good timing. The democrat governor there has just called out the National Guard. A protester wielding a baseball bat and bullhorn harangued a restaurant crowd. He was arrested. Molotov cocktails were thrown, the Police Needed help. Governor evers sees the light and calls in the National Guard. Same thing in washington, d. C. Hundreds of National Guard troops now marshaling. They will protect the capitals monuments. Thursday, june 25, 2020. Varney company is about to begin. Stuart all right. We are going to start right out with this. Lefthand side of the screen, i will read it for our radio listeners. This is polling from the New York Times. It shows joe biden up by 14 points nationally. And by the way, bank of america says the market is responding to a possible biden win in november. Market watcher Gary Kaltbaum joins us now. What do you think, gary . Is a possible biden win now a factor in this market . I think as we get closer, it becomes more of a factor and we no doubt, biden has already stated that he will go ahead and raise taxes, corporate wide, as well as individuals, and you can always you can go to fantasizing of a list of warren being treasury secretary and look, the left has gone very left of socialism and that definitely affects markets, especially every day moving closer. Stuart a bigger factor, i take it, would be the virus and the number of new cases . Thats a bigger factor than a biden win at this point, is that right . For me, yes. June 8th, the market topped recently. We are down between 6 and 9 with the dow and s p but the airlines and cruise lines are down 25 to 30 , oil services down 30 . So the opening up trade which was acting so much better is turning down and turning down in earnest. There are obvious reasons why. You hear the cruise lines now not going to go out for until the end of september. Disneyland is not opening up so quick. Im still waiting for disney world. That should be next. Thats just not good news as the numbers go up. Thats what you are seeing. I think thats most affecting things right here. Stuart youre not particularly active in the market at the moment, youre not selling much and not buying much. Would that accurately describe where you are, gary . Im a little bit more defensive at this juncture. I live in the nasdaq and technology and growth and thats still been strong. Thats been the place to be over the last eight, ten weeks but even they were come after in the last few days. Im just sitting back, feet up, and i want to see where the next few weeks bring us and just remember we have earnings season coming out real soon. Were not going to get guidance, im still not sure what we will get from companies. Stuart got it. Thanks for joining us. See you again real soon. Later on today, theme president heads to wisconsin. He will speak at a shipyard will they build ships for the navy. However, joe biden leads the president in that times poll by 14 points but look, we have the poll out of wisconsin and biden leads trump in wisconsin by eight points. Ronna mcdaniel with us now, gop chair. Ronna, how does this is wisconsin. Eight points behind. How does the president come back from that . Stuart, you know better than i do, you know, these polls right now are not even significant. 150 polls were done between now and the election in 2016 that showed donald trump losing and the ultimate poll is election day. Some things that are not being looked at are the special election that we just had in wisconsin for tom tiffanywhere the polls were showing him neck and neck and he actually won by 14 points. We had chris jacobs in new york 27 who defeated a candidate who in 2018 only lost by. 3 points. Chris jacobs won by 40 points. Both of these candidates ran with President Trump, they did teletown halls with President Trump and are exceeding the polling. This is something we are seeing in special election after special election. Six of which we have won since the midterms, all of those candidates were endorsed by President Trump. Stuart i take your point, i do, and im listening closely to what youre saying, but im also listening to bank of america and the rest of wall street which really is worried about a Biden Victory and that 14point lead in the times today for mr. Biden over mr. Trump, thats really got wall street flustered here. Yeah, i mean, if you look at that poll, though, its registered voters, not likely voters. 7 of the people polled said they are not even likely to vote. There are so many metrics behind these polls and you will see that over and over again. The real poll is going to be election day. The fact that the president has endorsed six candidates in special elections, they run with him and they have exceeded expectations on election day shows the momentum and the Energy Behind this president. Thats what were looking at. We feel very good about where we are right now in all of these battleground states. Stuart do you have personal polls that you could share with us which show mr. Trump in a more favorable light . Absolutely. I mean, the rncs polling, our voter scores which are more analytics based show the president in a much better position and in stuart do they show him leading on a national basis, ronna . We dont look nationally. We look state by state stuart in wisconsin. Is he leading in your internal polls let me just clear this up. Because this is important. Your internal polls show mr. Trump leading in wisconsin, they show him leading in ohio . We have him yes. Yes. We have him leading in almost all of the battleground states in our internal voter scores. And very close in wisconsin and michigan and pennsylvania, states where he was close in 2016. It is going to be a race to the finish line. Heres what i do know. We are out organizing the biden campaign, we already have 1100 staff on the ground. They have nothing on the ground. We have been building to turn out our vote for the past two years and they have just started building their infrastructure. I feel very good about where the president is heading into election day. And like you said, voters do not want their taxes raised and thats what joe biden is running on. He will kill our economy and he will bankrupt our country. Stuart ronna, thanks very much for coming on the show and going at this headon. We appreciate that. Ronna mcdaniel, see you soon. Ive got a big number for you. 2,336,615. Thats the total number of virus cases in this country at this moment. On wednesday, we saw an increase of 36,000 cases just from the day before. Thats the highest single day increase since april. Ashley webster is with us. Break it down state by state, please. Ashley yeah. No doubt we are seeing an uptick in some of these states. Lets get right with it. Texas, we talked a lot about texas and the governor there, greg abbott, has talked about maybe wearing face masks, encouraging people to wear face masks and stay at home if you dont have to go out. Texas recording in just the last 24 hours 5,551 new cases. Thats a lot. Also, florida, 5,511 cases. Again, a large number. Oklahoma, smaller state, smaller population, recording 482 cases in the last 24 hours. Then we have South Carolina at 1,284. We should also mention the state of california, more than 5,000 cases, a 24hour record in the last 24 hours. So you know, these are states in the south and the west in particular, stu, where we have seen these number of infections pick up and also icu beds in the houston area at 97 of capacity. There is no doubt we are seeing an uptick. Stuart all right. Thanks, ash. Because of all of that, the uptick, disney is pushing back the reopening of disneyland in california, of course. Lauren, this is a big development. Whats disney saying about this . Lauren well, the anaheim park, the july 17 opening is now postponed. We dont have a new date. Disneyland is waiting on the state of california to release new guidelines before they set a new reopening date. Several unions had written to governor gavin newsom expressing safety concerns about going back to work at the park. The shopping district that will still open on july 9th but the nearby hotels, they will remain closed indefinitely. There was a lot of hope that things would get back to normal. Now that hope being postponed. Stuart what about disney world in florida . Lauren all right. Theres a petition to delay the july 11th reopening of the Magic Kingdom and the animal kingdom. 7,000 people have signed that petition so far. Similar concerns there. The safety of the employees and this rise in infections in florida, in california, and in all the states that ashley mentioned. Disney was down almost 4 yesterday. Its down 2. 5 premarket today. Stuart okay. Its gotten hit. Lets move on to apple. Responding to the rise in virus cases with store closures. Now, the stocks not down but they are closing stores. Susan, where and which stores are closing . Susan houston, texas. Seven stores reclosing in that particular city. This adds to the 11 other stores that reshut just last week across four states, north carolina, florida, South Carolina and arizona. The reason is because covid cases in texas hit a single day high this week. Houston hospitals are reportedly at capacity at this point but dont forget, this is only out of an abundance of caution according to apple and its only 20 stores right now across 271 in the u. S. That apple operates, reopening just in recent weeks with limited services and mostly Curbside Pickup and dropoff. But i think its important to note that even as states dont reclose themselves, its the actual individual companies and corporations that make these decisions which i think is notable for investors. Stuart sure it is. Its individual companies, businesses that are making these responses. I think thats affecting their stock and the overall market as well. All right, susan. We are looking now, when this market opens this thursday morning, we will be down across the board, but the only significant loss is in the dow industrials. Thats down over a half point. Got that. Lets see what else weve got. In the 10 00 hour this morning, this man, the ceo of bayer, hes reached a near 11 billion settlement over the weed killer roundup. 11 billion. Why did these guys buy monsanto in the first place . They surely would have known these lawsuits were coming. This is america. We will ask him about that. Hundreds of National Guard troops activated in d. C. Protesters say they are going to tear down the emancipation statue in lincoln park. Yeah. They are setting an appointment to tear it down. They will be there, they say, at 7 00 eastern. The National Guard on the way. Remember when joe biden struggled to answer how much he really knew about the Michael Flynn case . Well, we will remind you. Watch this. I know nothing about those moves to investigate Michael Flynn. I thought you asked me whether or not i had anything to do with him being prosecuted. Im sorry. I was aware that there was that they had asked for an investigation but thats all i know about it. Stuart all right. Newly uncovered fbi notes show just how much biden weighed in on the case. Not looking good. Were on it. We will deal with it next. And right now, is a time for action. So, for a second time were giving members a credit on their auto insurance. Because its the right thing to do. Were also giving Payment Relief options to eligible members so they can take care of things like groceries before they worry about their insurance or credit card bills. Right now is the time to take care of what matters most. Like weve done together, so many times before. Discover all the ways were helping members at usaa. Com coronavirus discover all the ways were helping members announcer reliability is everything. So, if your networks down, youre down. Verizon knows your customers need to reach you seamlessly. Your team needs to work from different places across many devices. Plus, you want the security trusted by some of the Largest Companies in the world. And thats why you trust us. The most Reliable Network in america. What the decision today is really, its a good thing for general flynn, its a good thing for me, its a good thing for my family but its really a great a boost of confidence for the American People and our justice system. Stuart there you have it. That was Michael Flynn, general flynn, i like to call him, breaking his silence. A federal Appeals Court voted to dismiss the case against him. You know whos next. K. T. Mcfarland. Shes been wrapped up in this for so many years its hard to believe. You have been vindicated again, k. T. Yeah. And before i go any further, stuart, i want to take a moment to publicly thank you because when i was wrapped up in this, a lot of people treated me like a pariah but you never did. You always invited me back on your show. For that, i will be profoundly grateful. Thank you. Stuart you are a great lady. Now you are vindicated. Okay. Youve got a big smile. We love to see that smile, k. T. Now, expand on this. First of all, k. T. , im going to roll a sound bite. I want to ask you, do you remember when joe biden said this . Roll tape, please. What did you know about those moves to investigate Michael Flynn and was there anything improper done . I know nothing about those moves to investigate Michael Flynn. I do want to press that. You say you didnt know anything about it but you were reported to be in a january 5th, 2017 meeting where you and the president were briefed on the fbis plan to question Michael Flynn. I thought you asked me whether or not i had anything to do with him being prosecuted. Im sorry. I was aware that there was that they had asked for an investigation but thats all i know about it. Stuart all right, k. T. Flynns lawyers have uncovered new notes from the fbi agent peter strzok showing that obama and biden were in on the whole thing. Your response to that . Yeah. They were in on it from the beginning. When i listen to that recording you have of joe biden i thought this doesnt make any sense. You know, a decision to wiretap and to investigate the opposition political party, the president ial candidate, i mean, even afterwards, after he was president , that didnt come from some midlevel flunkie. That came from the highest levels of the Obama Administration and the problem for them is that it turns out those high officials in the Intelligence Community and even in the west wing of the white house in the Obama Administration, they were keeping notes and transcripts and that is whats being revealed. This is not Anonymous Sources coming from the nether lands. I think its very difficult for any of these people to walk back what they were trying to do which was a coup of a duly elected president of the United States. Stuart i would like to move on to john boltons book which paints a damning picture of the administration. However, do you see the book as jeopardizing National Security . Well, i think it does a couple things that are very bad. First of all, it shreds the notion of executive privilege. A president should be able to, in the oval office, have a frank and honest conversation without worrying that some aide is going to run out and then spin it and twist it and turn it around for his own, well, in this case, for his own profit. But the other thing it does is classified information, you know, john bolton did not clear his manuscript. I cleared mine. Everybody else has cleared his. His excuse is well, he knows whats classified and whats not. Why are there special rules for john bolton . He did endanger National Security. I think the most important thing he did wrong was he has now put fuel on this fire of division in the nation. If he was so convinced President Trump is an evil man, where was he during the impeachment . Guess what . His book wasnt for sale yet. It was all to make a buck. Stuart all right, k. T. Look, i want to thank you very much for being on the show again. You are indeed vindicated again and it was a pleasure to have you with us. I would like to tell our audience that weve got a programming note here. John bolton will be on this program tomorrow. Cant give you a definite time but he will be on the program. I will raise some issues with him. Next, i want to deal with the top trade guy, Peter Navarro. Hes now threatening china with more tariffs. Come in, ashley. Why is he making that threat . Ashley because he wants china to commit to the purchases that they agreed to in phase one, some 150 million worth that beijing said yes to. He says if they dont, they can expect some more tariffs in return. Take a listen to this. The executive order directs the United States trade representative to carefully monitor whats called purchase commitments from china. If those purchase commitments are not met, the United States trade representative has been directed to use his discretion to impose reciprocal, president loves that word, reciprocal tariffs on the china seafood industry. Ashley well, the seafood industry, as you know, theres been a lot of talk about the tariffs china has imposed on american lobsters and just recently, the president called Peter Navarro the lobster king because they say unless china drops those tariffs, the u. S. Will indeed put tariffs on chinese seafood and also, the president threatening the eu, saying i will put tariffs on eu vehicles if you dont drop the tariff on american lobster. So the backandforth, the threats and its all about china living up to its, you know, commitments on those purchases. Stu . Stuart he weaponized tariffs, did he not. Thats whats going on here. Ashley he did. Stuart ive got to get this in. An update on sports. The steelers cowboys hall of fame game and this years nfl hall of fame induction ceremony planned for august, now postponed until next year. There you go. Quickly updating the market. We open up in about six and a half minutes time. We will be down pretty much across the board. A solid loss, i should say, for the dow industrials, down about half a percentage point. Back in a moment. Yeah yyeah yeah hey, hey wherever you may go, lexus will welcome you back with exceptional offers on exceptional vehicles. Get zero percent financing and make no payments for up to 90 days on all 2020 lexus models. Experience amazing at your lexus dealer. Stuart all right. Were looking at the airlines, because they have been affected by the tristate area, thats new york, new jersey, connecticut, now requiring visitors from states where the virus is surging to quarantine for two weeks. Why would you take a flight to new york if youve got to go to quarantine when you get here . Lauren, come into this, please, because i dont know how they are going to enforce that quarantine. Lauren i can tell you how new york is going to enforce it. No blocking of the bridges or the National Guard checking papers when you land at the airport, stuart. Instead, they are encouraging regular people, neighbors, people at hotels when they see that you have arrived from out of state to say well, why arent you in quarantine. Now, this means you can get pulled over, if you have a florida license plate, you can get pulled over and asked by the cops. This is the punishment. Mandatory quarantine, 2,000 fine for the first offend, 5,000 to 10,000 after that. New jersey and connecticut havent announced what theyre doing yet. Stuart wait a minute. Youre telling me if im driving with, say, texas plates, and im driving in new york state, i could be pulled over by the cops who will say where do you come from, why are you not in quarantine and if i dont have a good answer, they can haul me off and fine me or do something to me . Is that what theyre going to do . Lauren thats what Governor Cuomo said yesterday. Stuart okay. That should cut down on travel. Okay. All right. Lauren and stuart go on. Lauren i was just going to say, when you look at the states that the nine states where the quarantine would be in effect if you come to this area, some of them are drivable. But most of them, especially you have to fly so you would notice it more likely at the airport, is what im thinking. He said were not going to, you know, were not going to look for your papers at the airport or anything like that. I guess its a quiet enforcement. I think that would be the best way to describe it. Stuart i just dont want to be snitched on if i stay in a hotel and the person in the next room says hey, you just came in from texas, get out of here. Im not real keen on that. Lauren i hear you. Stuart all right. Better move on before i get myself into some real trouble here because its almost 9 30. Any moment now, that bell on your screens is going to start ringing, about two seconds away from that. Here we go. That means youve got ten seconds to the open of trading. This is going to be an important session because the dow was down 700 yesterday. Looks like we are dropping about another 150, 200 this morning. We are off and running, its thursday morning and we have opened down, 129, 130 points down there. The vast majority of the dow 30 stocks are in the red. Now lets move on to the s p. Hows that opened up this morning . Its not up, its down. 25 . The nasdaq composite, lets see that. It is down just a fraction. So lets take a look at big tech. They have been very much in the news and they have been twhat wy for a long time. Down yesterday, bounced back this morning. Not a huge bounceback. Facebook, apple, microsoft, amazon on the upside. The only big tech loser as we speak is alphabet, otherwise known as google. Disney is down 2. 8 . Quite a loss there because they are delaying the reopening of their Disneyland Park in california. All right. Im going to take a brief pause because im about to be joined by sandra smith on the fox news channel. When i join your show, you join ours. Its great to have you here this morning. So what is your thought on the jobless numbers that just came out this morning . Is this economy recovering, stuart . Thats what people want to know. Stuart yes. The economy is recovering. The pace of that recovery is in question but the jobless claims numbers that we got this morning show a continuing down trend in the number of people who are registering for the first time as unemployed. Its not a huge or a sharp down trend, but a down trend is what it is. That means yes, the economy is coming back. We would like to see it come back faster. Maybe the comeback is being restrained a little by what amounts to a second wave of the virus and the new restrictions in some states. Yes, we would like to see it come back faster but to answer your question precisely, yes, we are coming back. Thats a fact. Sandra all right. So larry kudlow, the president s chief economic adviser, is making some news this morning. He just gave an interview on the Fox Business Network with Maria Bartiromo this morning. Hes talking about the spikes in the coronavirus, obviously theres a lot of concern about that, that has led to recent selloff in the stock market, but hes now saying that he still expects a strong vshaped recovery and a snapback in the third and fourth quarters, but he does not believe, stuart, that even though we are seeing a spike in cases that there would be another nationwide shutdown. Surely markets would like to hear that. Stuart yes, they would like to hear that. I think theyve got a little encouragement from what larry kudlow had to say. I would also say that, look, we are going to get a recovery. Again, we dont know how strong it is. But its shaping up to be pretty strong. We reported earlier this week that 2 trillion had gone straight into peoples bank accounts. That was deposits at major banks, 2 trillion. Thats an awful lot of money. That is spendable money. So when businesses open up and people are allowed out of the house and go back to do their business, there is money in their bank account to spend. I think thats a big part of Larry Kudlows vshaped recovery as he calls it. Also, if you are referring to the stock market, sandra, you know the power of big tech and we have been seeing that recently. The five Major Technology companies, they are all american, they dominate this Technology Platform which is used globally, they dominate the postvirus economy around the world, and they have been just going straight up. The top five american giant Technology Corporations are worth over 6 trillion. We have never seen anything like that before. Those tech stocks, they are the backbone, the crown jewels of americas economy and they have been doing very well indeed. Sandra you know, stuart, at one point i used to sit with you on your show every single day on the Fox Business Network. I loved that time. But you always watched those technology companies, because they are just such a Growth Engine for our economy. And so important to see how they are faring especially when we are looking at how well were recovering in this country. To your point, i hear a lot of wall street analysts, they are not talking about a vshaped recovery like the white house is. I have heard the nike swoosh, talk about how the recovery might look more like a nike swoosh. There is that. But final thoughts on the stock market itself. We are down 100 points this morning. There was a big selloff yesterday. But the dow is still firmly above 25,000. Remember in the darkest days of this pandemic, we were hovering around 18,000 on the dow. Its still making quite a comeback. Stuart enormous. On the day that President Trump was elected to be president back in november of 2016, the dow industrials were at 18,000. As of right now, despite the virus and the plunge in the economy in the First Quarter and early Second Quarter, despite all of that, we are at 25,000. Thats an enormous increase in three and a half years. Thats in large part because of this very very strong economy. Let me just throw one quick point at you, sandra. The election. President trump is 14 points behind joe biden in the latest New York Times poll. That is a very big gap. Investors dont like it. Investors are very worried about the possibility of a joe biden win because he would reverse the tax cuts, he would really tax businesses very heavily which would affect the bottom line which would affect the stock. So some of the selloff which youre seeing is the result of these polls showing mr. Trump behind joe biden in the election. Big deal. Sandra weve got a lot more coming up on all of that, stuart, we will let you get back to your show. Thank you for joining us this morning. Love having you. Stuart by the way, take a look at that market. We have come back nicely. Down just 80 points right now. The level is 25,351. The tenyear treasury yield as of right now,. 66 . Thats down from where it was yesterday. The price of gold, yesterday at an eightyear high or close to it. Close to that level again today, 1773 per ounce. Oil, wheres that . Well, oil is back down to 37 a barrel as we speak. Take a look at the stock price of target. Theres news on their grocery service. Whats the news, ash . Ashley well, they are going to add 750 more fresh and frozen items like fruits and veggies and meat to their sameday order pickups and drivethrough service. This expanded list of groceries being added to 400 stores right off the bat. That will expand to about 1500 stores later in the year. Bottom line is the Shopping Patterns of consumers have changed during the pandemic and as far as target is concerned, a lot less apparel is being bought but a lot more groceries. Speed and convenience is the key and you know, target responding by trying to expand the amount of items consumers can just swing by and pick up or drive through. So target really jumping on this new shopping pattern. Stuart well, if you cant eat in restaurants, i mean, what are you going to do . You swing by target for your stuff, i guess. Now this. After 16 days of absolute chaos, seattles chop zone leaders urging protesters to go home. Local residents and businesses, well, they are suing the city of seattle. What kind of a case do they have . We will tell you. South carolina senator tim scott blasting democrats for blocking his Police Reform bill authorized authored i should say by him. Watch this. Stereotyping of republicans is just as toxic and poison to the outcomes of the most vulnerable communities in this nation. Stuart you will hear what nancy pelosi had to say in response to that in our next hour. Look at bayer. They are the maker of the roundup of roundup, a weed killer. They have agreed to pay nearly 11 billion in cancer settlements. We have the ceo on our show but first, we are talking to the judge and dr. Siegel about this. Looks to me like the trial lawyers took bayer to the cleaners. Well be right back. Stock slices. For as little as 5, now anyone can own companies in the s p 500, even if their shares cost more. At 5 a slice, you could own Ten Companies for 50 instead of paying thousands. All Commission Free online. Schwab stock slices an easy way to start investing or to give the gift of stock ownership. Schwab. Own your tomorrow. And people you can rely on. Im a Dell Technologies advisor. Me too. Me too. Me too. And if youre a small business, were with you. We are with you. Were with you. We want to help. So well be right here. At home. Answering your calls. Providing support. And standing by you every step of the way. Bye bye. Stuart we are still down across the board. 200 points lower for the dow jones average. Look at big tech, please. You always have to follow this group. They are a mixed bag this morning. Apple is down, facebook is down, microsoft is down. In fact, im sorry to say they are not a mixed bag. They are down across the board. Thats helping push all the averages lower. Quick check of bayer, please. They settled their roundup lawsuit for over 10 billion. Tens of thousands of people sued, saying the weed killer roundup caused cancer. We are going to get some reaction to that. Here is judge napolitano, fox news senior judicial analyst, and dr. Marc siegel, fox news medical contributor. First of all, to you, doctor. Was there ever any actual evidence that roundup caused cancer . Absolutely not. By the way, stuart, i voted for judge napolitano for feedback friday. Im very glad to be on right before him. Its an honor. Theres no evidence whatsoever linking roundup with cancer. Roundup has a chemical called glyphosphate. No one has ever called it a carcinogen. The w. H. O. Says possibly, probably but theres no scientific evidence. It can definitely cause your eyes to be irritated and in honey bees, by the way, it prevents them from thinking clearly. Honey bees. But were not honey bees. Without the scientific evidence, this is actually a very big settlement, i think, for bayer because if they had ever admitted any liability here, you could have tens of thousands of more lawsuits. Stuart judge, to you now. Bayer has to pay out all this money simply because they did not warn users of roundup of the possible dangers of cancer. Thats the story, isnt it . That is the story in a nutshell. Dr. Siegel, thank you for voting for me. Im not sure what that is but ill take it. Heres the problem. What dr. Siegel says is correct and its accepted by the medical community, but youre not going to like this, stuart. The plaintiffs lawyers in the missouri case found some physicians outside the mainstream of the medical community and offered them as expert witnesses, and the jury returned a verdict into the billions. This is the case we discussed yesterday. 400 million in compensatory damages, 4 billion in punitives. As soon as the Appellate Court reduced the 4 billion in punitives to 2 billion, bayer announced, it was in the process of settling tens of thousands. How many . Stuart, we thought there were 19,000 cases. It turns out that those 19,000 cases have 95,000 plaintiffs in them. So some cases were settled for peanuts, some cases were settled for 7 million. But this 63 billion acquisition of monsanto by bayer, add another 11 billion to the cost, thats the amount they will be writing in checks in the next two months. And there are 35,000 people who havent hired lawyers yet. Stuart isnt this just a case of warning labels . Couldnt bayer have avoided all of this if they put a warning label out there. Simple as that. Could they have done that . Well, couldnt bayer have avoided it if monsanto put the warning label on, yes. These are all causes of action that accrued before bayer purchased monsanto. Stuart what do you think of an 11 billion judgment because you didnt put a warning label on there . Sir, that is ridiculous. I think it is a business decision, stuart. I think that the executives at bayer have decided they need to get this behind them, they need to stop the jury trials, they need to stop the legal bills from coming in and they need to show a friendlier face to consumers and this will do so. So they had a team of people that helped them settle it. We never thought that they would settle this many cases for this much money, but they want it over with. They do not want to confront another jury that will award billions in punitive damages. Stuart doc siegel, if you have a nice backyard, would you have any problem using roundup in your backyard . No, not al at all. I just wouldnt go too close that it. Thats the main thing. You dont want it irritating your eyes if you have allergies. One thing to the judges point, they have a warning label on it but if they put on their warning label that it might cause cancer, that would open the doors for even more lawsuits, i believe, judge. In other words, they have to be careful what they put on the label. They have something there about how it could be hazardous to your health but how far they go would have to be based on science, i think. Otherwise they have more liability. Stuart what an extraordinary mess. Dr. Siegel is absolutely correct. One of the things that bayer did not do in this billion dollar settlement, 10 billion, they did not admit liability. They did not admit that Bayer Monsanto did anything wrong and they certainly didnt admit roundup causes cancer. Stuart okay. Judge, doctor, both of you, many thanks. I find this an extraordinary case. Thank you for pointing out the good stuff here. Thanks very much, gentlemen. Appreciate it. By the way, later in the show, bayers ceo westerner baumann w be with us. Hes on the show. Nancy pelosi doubling down after saying Senate Republicans are quote, trying to get away with the murder of george floyd with their Police Reform bill. Watch this. Will you apologize . Absolutely positively not. The fact is im thinking frankly the press has given them far too much credit for a bill that does nothing. Stuart all right. Question, is the speaker unwilling to give republicans a win of any kind on anything even if it comes from the great senator tim scott . We are on it. In the last few weeks, we have seen a constant stream of violence surging across the country. Nothing has been done. The politics of all of this may be shifting, in my opinion. I will make my case on that in my take. Thats in the 11 00 hour. Stuart i smell some trouble for the ride shares, that would be lyft and uber. There is a new, repeat, new push in california to classify the drivers as employees. Thats bad news, susan. Bad news for uber and lyft. Susan threat to their business model. Hundreds of thousands of drivers could immediately lose their jobs in california if the states attorney general has his way. This court order does go through. Now, this injunction wants uber and lyft to comply with ab5. This means drivers need to be classified as employees and not independent contractors. That means uber and lyft have to pay driver benefits, overtime, minimum wages and its also, by the way, not a good time when california is already dealing with record high unemployment so uber telling us the vast majority of drivers want to work independently. We have already made significant changes, they say, to our app to ensure that that remains the sk case under california law, where over three million californians are already without a job. Lets bring up what lyft says as well because lyft says the California Legislature passed a law that was so badly drafted, it destroyed thousands of jobs before the ink was dry. If they were to grant the sdwroern attorney generals request it would have a devastating effect on californians at the worst possible time. Some say uber and lyft are trying to pass the buck to the state by not paying these benefits because they may take state benefits instead. Uber and lyft have been able to get around ab5 so far by suing the state and they are pushing for a second bout which they have told me that they expect to go through. But looks like the state attorney general wants to ram down their throat this ruling. Stuart just extraordinary, isnt it. California is the home of innovation. Uber and lyft are very innovative and they are being stamped on by california susan job creators, too, mind you. People want to be independent. Its a second job for them. Let the people have their will. Stuart yes, please. Independent and liberty. Susan, i better move on before my head explodes. Jd power releases its annual car quality report. Tesla owners have the most issues. Dig into it, ash. What else are they saying . Ashley yeah. Well, they looked at 32 different car brands. People who bought or leased new vehicles in 2020. Then they get the results and rank them. Guess what . Of the 32, tesla came in at the very bottom. What were some of the problems reported by tesla drivers . Well, paint defects, you can see it on the screen, poorly fitting body panels, hard to open and close hoods and trunks or bonnets and boots, whatever you like, excessive wind noise inside the cabin as you are going along, squeaks and rattles. Nothing more annoying than that squeak or rattle they cant figure out exactly what it is. We should point out that these are surveys done of drivers across 50 states but in teslas case, only 35 states were surveyed because apparently tesla doesnt allow the survey in 15 states. Not sure how tesla can prevent someone from answering a survey but whatever. I just wanted to put that caveat in there for you. Stuart the caveat is in. Thanks very much indeed. Ashley yes. Thank you. Stuart all right. In our next hour, ceo of bayer joins us. He reached that 11 billion settlement over the weed killer roundup. Ive got something to say about that. Election day coming up soon. Dont expect a result on the night of november 3rd, election day itself. In fact, get ready for chaos. I will explain that all. My take coming up next. But what we can do it be a partner that never quits. Verizon is the most Reliable Network in america. Built for interoperability and puts First Responders first, giving their calls priority, 24 7. We do what we do best so they can too. Car vending machines and buying a car 100 online. Vented now weve created a brand new way for you to sell your car. Whether its a year old or a few years old, we want to buy your car. So go to carvana and enter your license plate, answer a few questions, and our technowizardry calculates your cars value and gives you a real offer in seconds. When youre ready, well come to you, pay you on the spot, and pick up your car. Thats it. So ditch the old way of selling your car, and say hello to the new way at carvana. And my side super soft . Yes, with the sleep number 360 smart bed, on sale now, you can both adjust your comfort with your sleep number setting. Come on pup, time to go. Can it help me fall asleep faster . Yes, by gently warming your feet but can it help keep me asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both comfortable. So you can really promise better sleep . Not promise. Prove. And now, during the lowest prices of the season, the queen sleep number 360 c4 smart bed is only 1,299, save 400. Only for a limited time. To learn more, go to sleepnumber. Com. Stuart 10 eastern, 30 minutes into the trading session. A lot of red ink, not as much as we had at opening bell and certainly not as much as we had yesterday. At this moment the dow is down less than 100 points. Jobless claims numbers came in this morning, down for the 12th straight week however we found out 47 Million People filed for Unemployment Benefits since the lockdown began. That equals 30 of the labor force out of a job at this moment. 10 00 thursday morning ashleys big day, mortgage rates. What have we got, ash. Ashley 3. 13 stew. Guess what it was last week . 3. 13 . That is the record low since they began keeping records 40 odd years ago. The purchase demand is still very strong. A lot of people want to take advantage of these historically low rates. Think about it, 3. 13 for a 30 years fixed. Problem is a lack of inventory. So its a sellers market. But the rates are remarkably low. Stuart that is helping the real estate market, if you look at the overall market. The real estate sector, there is a real estate sector is doing particularly well. The dow is only down 50 points as we speak. We have a market coming back a little bit from its earlies losses. Now this. Election day this year is tuesday, november the 3rd. Do not expect a result that night. Okay. Were used to being glued to the screen looking for a projected winner on the day of the election but you will have to be glued for a long time this year because mailin ballots will bring a long delay. Hate to say this but were actually looking at chaos. We had a taste of things to come in new york this week. Newcomer jamal bowman leads long term congressman eliot engel, 61 to 36 . But bowman cannot be declared the winner until mailin ballots are counted and recorded. That wont happen until next week. Mailin balloting is riddled with problems. First of all, when do you count them . In three states, pennsylvania, michigan and wisconsin, vital states, officials cant even start to count until election day itself. Delay is guaranteed. In california, the mailin ballot postmarked november the 3rd. It is valid vote. It wont arrive for a few days. The delay is guaranteed. There will be legal challenges especially in close races. A mailin ballot require as valid signature. Send in lawyers to challenge that. It will be like the hanging chad election of 2,000. Imagine waking up on morning the wednesday, november the 4th. You tune in. Expecting to see the winners victory speech. Instead you see angry officials, frustrated candidates and no result. That is the electoral process thrown into limbo. Welcome to the covid19 election. Hard to staff actual polling stations. Hard to keep social distance at those polling stations. And impossible to count the 10 of millions of mailin ballots without delay. Nobody can be happy with this, nobody. Now look at this, the latest polling, this is from the New York Times. Joe biden leads in yet another national poll, 14 points ahead of the president. That is nationally. That is from the times. Bank of america beggal pegging this market selloff on concerns that joe biden will win in november. Here is what ronna mcdaniel, gop chair had to say about it. Voters do not want their taxes raised. That is what joe biden is running on. He will kill our economy and bankrupt our country. Stuart yes. But he is still leading in the polls. That may be a factor on the market. Lets bring in dennis gartman. Dare i call dennis a veteran market watcher. Youve seen it all before. What do you think, dennis . Do you think these polls showing likely biden win are a factor in the stock market right now . Not a question, stuart. The fact that the numbers are beyond 10 is very discouraging if youre a republican. The fact that New York Times poll had it 14 which is obviously skewed because of numbers come out of california, new york, massachusetts. This is very disconcerting. The market is now concerned not only shall mr. Trump lose presidency but senate. All they have to do move four senate seats, you move senate to a democratic position. The house will probably see another 20 to 25 house seats moved to a democratic position. And stock market cannot be beneficial, cannot be applauding that even slightly. So there is more here than just covid today, taking stock prices down yesterday and today. There is concern over the elections and concerns once again returning to tariffs. There is a lot, there is a lot of ill news market has to digest and having trouble doing so. Stuart let me show you what larry kudlow told maria this morning about the pace of the economic rebound. Roll the tape, please. Once we get into the summer months and Third Quarter data well be looking at 20 growth snapback in q3 and q4. Hopefully Something Like 5 in the First Quarter of next year, which, maria, the reason i mentioned that, that would get us back to the peak of the economy in late 2019. Stuart dennis you completely disagree with that. You are betting against the market. You think stocks will go down. Make the case. In my account im short stock market and long gold market. Larry is an old friend of mine. Ive known him 25 years. I think he is a little optimistic. The fact you had egregious decline in gdp second and Third Quarter, Second Quarter to be polite, you might get a deadcat bounce on gdp because the numbers in the first and Second Quarter were so bad. Yearoveryear quarter over quarter you get growth. Yearoveryear it will be negative. I think that is disturbing. That does not take into consideration the fact that we have more covid coming at us in the various states across the union and the election circumstances and tariffs. So i think as i said im bearish. I have positioned myself that. Im short the stock market. Im long the goldmark dealt. Im very comfortable in that position. Stuart i think youre familiar with David Portnoy barstool sports kind of guy. Yes. Stuart he called out Warren Buffett for selling airline stocks. Youre not too happy with dave portnoy becoming a stock market guy, are you . No, im not. I think this is indicative what Joseph Kennedy talked about when the shoe clerks were in the market, public in the market. When the public is in the market, especially the public speculating in options, speculating in futures, speculating generally that is always a sign of a market top. I think David Portnoy circumstance, portnoys complaint i think deleterious to stock prices. Ive seen this before. I saw this in 2000 when the public was in. I seen this in 1987 when the public was in. I saw it in 1972 to 74 when public was in. This is indicative circumstance. I think this is bearish market getting. Weaker not much stronger. Stuart on that note, dennis gartman, we always like hearing from you. Thank you for being here. Always an honor, stuart. Stuart thank you. Number of virus cases reported in the country hit record levels yesterday. Which states, ashley . You got the numbers. Which states are seeing the biggest changes. Ashley look to the south and to the west, that is where were seeing the biggest up tick if you like, 38,600 cases across the country. Looking at some individual states. Look at florida, 5511 as of june 24th. Lets check some others for you if we can. South carolina, 1284. Oklahoma being, 482. This is the last 24 hours. I want to finish if we can on texas. Texas, we talked about alot, there you have it, 5551 new cases in the last 24 hours. Certainly weve seen some of the hot spots around houston and elsewhere in the state. Of course texas, one of the first to really get the reopening underway. According to local media the capacity of houstons icus at 97 . The local media also reporting that 27 of icu beds in that city occupied by covid19 patients. There you have it. Texas and florida are among the leaders when it comes to resurgence if you like of the virus. Stuart let me add to your report, ashley, we got it in from governor abbott. He issued an executive order which expands Hospital Capacity in the state of texas. So let me add that to what you said there, ashley. May i now bring in texas congressman chip roy. Republican from the great state of texas who joins us now. Is there going to be a second fulltime lockdown in texas, sir . Good morning, stuart. I certainly hope that is not the case. Obviously it is critically important for the wellbeing of citizens of texas and this country we open up, stay open, so people interact and have jobs. Have second order impacts. Im a cancer survivor. What woman finds out she has stage 4 Breast Cancer because she couldnt get screenings two months ago. Were watching hughes tone and austin, where beds are filling up. Statewide we have 14,000 bed capacity were still able to have. We have 60,000 staffed beds across the state. We make sure we Pay Attention to the data. Not talk about cases. Stop scaring people but rather look at the actual data were doing what we need to do make people in hospitals. Stuart the charge is going to be laid that texas opened up too early, went too far wit. Beyond to that, please . No. I think look what i was talking about before, what are the negative impacts consequences of shutdown . You talked about Unemployment Rate number a minute ago in your opening segment. Were talking about cancer impacts. Were talking about opioid. Talking about mental health. Talking about the suicide rates. These are real issues. Talk about the tinderbox created when we shut down our nation and raised tensions. Now were seeing it boil out on the streets. We have to do the job of lead. Stop being scared. The governor is doing a good job in texas trying to keep things open while watching carefully the Health Care System to make sure we hold capacity, do what we need to do to protect ourselves and protect our elderly. I havent seen my mom and dad since christmas. My dad is 77, my mom is 71. Were being smart about it. We need to open society to seem can go to churches. Wear masks where you need to. Lets not panic. Do the right thing for our state and our country. Stuart in la raid day, if you walk into laredo, if you walk into a bar you have to give them your name, phone number, address, so they use it for contact tracing. That is a bit tough, isnt it . It is. What people are doing reacting in the Community Levels to make sure they figure out how to deal with this, right . Make sure they keep each other safe. That is it what we do. We dont need topdown edicts tell everybody what to do and where to do it. Stay focused, stay calmed. A lot of great organizations are focusing on data but media focuses on cases. We have done 30,000 test as day. Weve done 1. 8 million tests. We have a spread. Younger people getting it. Good news younger people fare better on this. Protect the vulnerable. Open our schools. Flu is more dangerous to kids 18 and younger than the virus. We need to do this the mart way and not do it through panic and be responsible for everybody. Stuart republican chip roy from texas. Take care. Yes, sir. Stuart seattle businesses are suing the city over its handling of the autonomous chop zone while protesters are being encouraged to go home and vote for joe biden. How about that . We got the story for you. In new york, protesters are camping out in front of city hall demanding that the nypd be defunded. This as mayor de blasio gives the green light for black lives matter to be painted on the street outside trump tower on fifth avenue. Senate democrats blocked a gop Police Reform bill calling it inadequate. Here is what the president said about it. Roll tape. The democrats dont want to do it because they want to weaken our police, they want to take away immunity. They want to take away a lot of the strength from our police and from Law Enforcement generally and we cant live with that. We cant live with it. This is a great bill. Stuart all right. Speaker pelosi slammed republicans for the bill and said they were, quote, trying to get away with murder. Youll hear why she says she is not apologizing for that comment. Thats next. There are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. Stuart it is official. Treasury sent one million stimulus checks to dead people. How much did they actually send out, ashley . Ashley how many of those actually cashed it. The total of that one million plus checks or payments went to deceased people was nearly 1. 4 billion. Now we knew that, there had been reports before on this, stu, we had no idea that the scope of the problem was this shocking. It has done, comes out of a report by the u. S. Government accountability office. It did an independent investigation. It turns out that the irs has access to the Social Security administrations death records. That is one thing. But it turns out the treasury, that actually sends out the payments does not have access to those records. And so as we know, congress has approved about 3 trillion if not more of relief payments in march and april, but close to 1. 4 billion of that relief went to people who are deceased. Earnings okay. Im with you on this one, ashley. How many cashed it. Who will give it back . A lot of them actually. Ashley right. Stuart serious stuff here. Senate democrats blocking the republican Police Reform bill. Here is senator tim scott who is wrote the bill. Here is what he said on fox friends earlier today. Roll tape. So when you go piece by piece, only thing you can conclude is that it wasnt what we were talking about, it was who was talking. Not just me, tim scott, but who was talking was the Republican Party saying to minority communities, to underserved communities, to liberalcontrolled communities like atlanta and minneapolis, cleveland, we were saying to those residents, we hear you. We see you. Hear are reforms. Stuart okay. It is going nowhere. Come on in steve rogers, gentleman on the righthand side. Former Police Officer and trump 2020 Advisory Board member. Are we ever going to see Police Reform . Lets look at some facts. President trumps executive order actually did what the people and the Police Wanted done. He created a executive order that was designed to build trust between the police and the people. At the same time, which is very important, to maintain law and order. And senator scott is absolutely right. The dems refused to get on board with that. Why . Because they want to carry this through over to the next election. Who heard the cry of the people . Who heard the cry of the police . The president of the United States and the gop. The democrats, it is falling on deaf ears. Stuart i want you to listen to what Speaker Pelosi had to say about this. Roll tape, please. When you were speaking yesterday you said that republicans are quote, trying to get away with murder actually, the murder of george floyd. Senate republicans are demanding an apology for that statement. Will you apologize . Absolutely, postively not. The fact is, people say, i think you frankly, in the press have given them far too much credit for a bill that does nothing. Theyre saying you have your bill. They have theirs. Our bill does something. Our bill doesnt. Stuart she said, getting away with the murder of george floyd and the bill does nothing. Your response, please, sir . Where are the murders happening . Chicago, los angeles, new york. The blood of crime victims are flowing on the streets of this country like never before because the democrats refuse to sign a bill to get on board, to help the people and the police. That statement of hers is absolutely ridiculous. And as you look at the facts, as i just articulated them, you see the gop and the president are doing what the people asked to be done. Democrats politicized this. Stuart i find it astonishing this country is not prepared to say, we need Police Officers, give them power to do their job. Nobody is saying that, except the president and some republicans. Last word to you . Well, simply say this we need to support the gop. We need to support the president. More so, stuart, i believe in the power of prayer. Im asking the American People to pray for our country. My lord, we need some divine intervention to heal the wounds here. Stuart steve rogers, thanks for joining us, sir. Appreciate it as always. Thank you. More developments on the facebook ad thing. A major ad agency has joined the boycott, joining the boycott of facebook ads. Susan. Is this going to give real trouble to facebook . Susan right now we have the first major ad agency to join the hashtag campaign, stop hate for profit. This Company Represents brands like bmw, doer vetoes, paypal, adobe. Owned by one of the largest advertising conglomerates in the world called omnicom based in france. This is the first major ad company to stop advertising on facebook and instagram. Joining eddie bauer and north face, rei, boycotting facebook in this stop hate for Profit Campaign started by the naacp and antidefamation league. They say that Mark Zuckerberg and facebook is promoting hate and violence by not shouldering some posts, namely President Trumps men minn post. Mark zuckerberg said he is disgusted by that particular post, he says facebook should not be the arbiter of truth. It is a tough environment to be in social media. If you dont shield, then youre promoting violence. If youre shielding like twitter does, youre censoring. You cant really win in this election year. Stuart you cant win and you cant screen two billion post as minute or whatever it is. I mean susan at least. Stuart i dont think you can do that quite frankly. Look at the stock. Investors dont seem to care. The stock is up another 1 today. 236 on facebook as we speak. That no doubt is helping to hundred the market around. Dow industrials are up 102. S p up 6. Nasdaq up 16. Stuart can we check out sonos, speaker people, headphones . They are going to lay off 12 of their employees. Theyre closing the new york city retail store. The stock goes up 4 . Beyond meat that stock this morning is down 13. However theyre continuing to expand into fastfood chains and there are analysts out there saying fake meat is attracting more customerss. During the pandemic people are more healthconscious. Nonetheless fake meat down 13. Now, 8 to the downside. Next city of oakland, california, voting to remove police from state schools. So who is going to protect the students . Well ask the question, not sure were going to get an answer. Next im talking to the ceo of bayer. They reached a settlement deal of a billion dollars over roundup. Here is what dr. Marc siegel had to say last hour. Roll it. There is no evidence whatsoever linking this roundup with cancer. Round up has a campus cale calledgly phosphate. National institute of health, environmentallal protection agency, none of them called it a car a carcinogen we could never do what they do. But what we can do it be a partner that never quits. Verizon is the most Reliable Network in america. Built for interoperability and puts First Responders first, giving their calls priority, 24 7. We do what we do best so they can too. Whats going on in Corporate America and what investors are believing is going on in Corporate America. The message to you dont trade because you think youre gonna to get rich quick. Because you. Stuart check those markets. You will like what you see. We have turned around green all over the place. Dow is up, s p is up, and nasdaq is up. What stocks are leading the dow . These are dow component theyre up. Goldman sachs up 7 . Jpmorgan, american express, looks to me like the financials are doing very well. That is turning around the market. Big tech, you got to follow them every single day. Facebook is now up. Apple at 362. Amazon 2739. Im pretty sure microsoft and google are on the upside as well. Green on your screen right now. And now this, bayer has just reached a settlement. Its a deal worth nearly 11 billion. This is settlement over the weed killer roundup. Tens of thousands sued them claiming the weed killer caused cancer. Look who is with us now, werner baumann, the ceo of bayer. Sir, welcome to the program. Great to have you with us. Let me see how far we can go here. Seems to me the court never proved that roundup causes cancer. What happened to you was, you failed to put a warning label on roundup and thats cost you 11 billion. Welcome to the american legal system, sir. What do you got to say about it . So the first thing i would say that the country is in dire need of tort reform. Beyond that, now let me touch base on what you mentioned. So we have found a solution together with the plaintiffs side. Actually with the great help of our mediator ken feinberg, to put this now behind us. We have found a solution that provides, lets say the mechanism at the process to put closure to the glyphosate litigation and much more important things foreus as a company that we are in business for that we can focus on now. If you look at 800 Million People that go to bed hungry tonight, the 10 billion people that need to be fed in a few decadeses from now, these are the things that we are working on as a company to provide Better Solutions for farmers, to produce more with less going forward. At the same time, do the right thing to protect the planet. Stuart you can continue to sell roundup, i believe . Well, the epa only earlier this year in january reconfirmed that glyphosate is a safe product. It is not cars sin owe again i can. It is fully available, not only for farmers that need the product, it is important for them to continue to farm but also to the consumers to demand the product and continue to buy it because it is very safe, efficacious. Absolutely nothing wrong with the product. Stuart how will you pay this 10 billion or nearly 11 billion . As i understand it, you will pay five billion this year, i think out of your own cash flow and you will sell some bonds to raise the other five billion next year. Is that how youre going to finance the settlement . So first of all, we have a strong underlying business because we happen to be in the right business. If you look at the covid crisis right now the pandemic, the only shops that are typically open during the phases of lockdowns are doctors offices, pharmacies and food stores and health and nutrition is all that we are about so to answer your question more precisely and specifically we are going to pay the first five billion that we think it is going to come due in 2020 with cash at hand. Were going to cash in on the sale of our house business, so in next weeks to come well have a pretax income of about 5. 3 billion. In additional 2. 3 billion at original value in stocks that the company we sold our business to. And, that amount of money that funding, our operating cash flow and the cash at hand, then also provide the funding for the payments in 2021 and beyond. So there is also going to be a lit bit that will come in 2022 and thereafter. The bonds that we mentioned are there to refinance our existing debt. That is what the bonds are there for. There is some debt maturities in 2021. And that is what were going to take the bonds out for, to refinance that existing debt. Stuart why did you get into this in the first place . Why did you buy monsanto . You must have known that monsanto is a very unpopular company especially in europe . You must have known there was lawsuit risk when you bought them in the first place . Well, the rationale combining forces has always been about the strength of the combined innovation platform. Bayer historically a company that has expertise second to none in the chemistry expertise. Monsanto is the best seeding Technology Company by the way had most advanced, leading digital platform. Two together, you get better, more sustainable solutions, farmers can do more with less going forward. We can produce and develop these Solutions Much faster. That was behind the combination of the two companies that rationale is totally intact. Now even more than ever. If you see the massive challenges, not only in the health care but also with your some significant challenges to the food system that are, you know, developing as we speak. Stuart sir, ive got to wrap it up. I want to give you the last 30 seconds. I want you to tell our audience what advice you give to a European Company thinking of a major takeover of a consumer kind ever product in the United States . Well, do your job in analyzing the combination. Look at the strength ever the company and then, you know, take it forward if youre comfortable. As we were at the time. Stuart push for some tort reform. That would be my opinion yours, perhaps not yours. Weiner baumann, youre in a tough spot. We appreciate you being on the show today. Thank you, stuart for having us. Stuart sure thing. I will put rite aids stock up on your screen. Those shares are up big time 20. 9 . They reported sales up 6. 6 during the lockdown. That is compared to last year. Their pharmacy business doing very well indeed. Look at that stock go. Up 21 as we speak. A new warning from the Consumer Reports people about whole foods starkey spring bottled water. Well tell you about what that company is saying about this. Chop occupation lasted for 16 days. They say it is time to shift to the next phase . What are they telling their supporters to do now . Well tell you stuart were still showing green one hour and ten minutes after the start of trading. Dow is up, s p is up, nasdaq is up. It is up nearly 50. Moderna however, on the downside, negative results from test of their cancer vaccine and the stocks down 6 . That is moderna, back to 60. Whole foods under fire for having, quote, potentially harmful level of arsenic in their bottled water. That makes quite a headline, susan. Whats it all about . Susan it does. Consumer reports found whole foods bottled water has three times the amount of as knick compared to other brands arsenic. Whole foods starkey brand, three times the limit. Arsenic can increase risk of heart disease, certain cancers and lower i. Q. Stores in children. Whole foods tells fox business that the products met and meet all fda requirements. The fda themselves say arsenic is naturally occurring element. It is not possible to eliminate all of it all traces in the water. Starkey spring is sold at most u. S. Whole foods locations according to Consumer Reports. Amazon is the owner of whole foods, buying it back in 2018 close to 13 billion. It makes you rethink the bottled dollar you reach for in the whole foods aisles. Stuart it does foreme. Susan i do that. I actually buy spring water from whole foods. Stuart a bad headline when you see water contains arsenic. I got it. Lauren, the Oakland School board voted to remove police from its schools. What is their plan to keep students safe . Lauren to use the money to invest in school services, counselors, nurses and the like. So if there is an issue at school, say a student bring as weapon to any of the oakland public schools, you call 911, and you wait for the Oakland Police to show up, which obviously would take a lot longer than using one of the 10 Police Officers and 50 security guards that were at these schools. Those 60 individuals out of jobs by the end of the year t was a unanimous decision by the school board by the way, stuart. Stuart nan muss decision. Okay. Lauren unanimous decision. Stuart now we turned positive again. Were kind of right at break even point. Lets move on. Some businesses and residents in seattle are suing that city over the chop zone. They claim the city was complicit in allowing the protesters to take the thing over. It comes as leaders of chop are now urging protest, go home, go happy and support joe biden. Im going to give you a quote from this. The chop project is now concluded. Please remember to continue supporting the kind of revolutionary change we just created by voting for joe biden as president of the United States in november. And jay inslee as governor of Washington State. Well, Caleb Heimlich is the chair of the Washington State gob. So, this is fascinating. Theyre telling them go home, it as over. But vote for biden. He will keep the revolutionary fervor going. That is intriguing to me. What have you got to say about it . Yes. First of all this is the example of the chaos going on in seattle. As you pointed out businesses are suing. Residents rising up, frustrated about the lack of leadership from the city. One of the things weve seen in in protest, in the chop zones is nobodys been in charge. Some people are saying, well the tweet wasnt from us. That is not an official count. It didnt come from us. Regardless, the choice for voters of Washington State and United States is clear. Weve seen from mayor jenny durkan who is a democrat of course, our governor, governor jay inslee, unwillingness to enforce the law and protect people and property. So that is what the voters will have to make that choice this summer and fall is do we want to go with that party that is allowing really chaos to rein, i always think of Washington State essentially a democrat state. Im sure there are areas inland, not coastal areas, areas inland which are republican areas. Do you think that balance is going to change because of whats been happening in seattle . Can you see some seats being picked up by the gop in Washington State . Absolutely. This is a swing state. For the last five years it was dead tied in the state senate. Republicans actually had oneseat majority. There are suburban seats we can absolutely pick up. Especially when you see this complete failure in the city of seattle and the complete lack of leadership from our governor jay inslee. He is vulnerable. And so i think were going to flip Washington State this year. Stuart can seattle recover quickly from this, if they get rid of the chop zone . Thats a great question and i dont know that there is a quick answer of the i think this will be a long process. Weve seen just this week a captial Investment Firm smead, is moving to phoenix. Theyre out of here. I think youre going to see more businesses saying, look, if you go to seattle right now where im at, businesses are still boarded up. We had the coronavirus and two months of a shutdown. Weve had the last several weeks of just chaos in a major city. And so if youre a business owner, youre an investor, an entrepreneur you have to think long and hard if you are to invest in area like this. I think it will be a process for seattle. I believe we can turn it around if we start getting new leadership in at the state level. Stuart i have only got 30 seconds left. Are there real anger in Washington State about what has been happening in seattle . Are people really annoyed about this. Yes, yes, absolutely. There is video going around now where a resident who had been stuck in his apartment, came down and started physically ripping down the barriers and just throwing them aside because it is lawlessness. It is chaos, anarchy. Frustration with where is the leadership . Why arent people doing what theyre supposed to be doing . Were paying our taxes. Were going to work. Were doing our part. Why our leadership is failing us . That angst is coming out. Were looking to harness that and replace governor inslee in november. Stuart thanks for being with us this morning. Good stuff. Sure thing. Stuart new york citys mayor, bill de blasio reportedly authorizing the words black lives matter to be painted right outside of trump towers, the president s remembers dense, not very long this year. But that is he has a home there. Ashley, this is taunting the president , isnt it . Ashley of course it is. Giant yellow letters on fifth avenue right between 56th and there it is, 57th streets. Happens to be right in front of trump tower. What is interesting about this de blasio on at the same time is begging for federal help, more stimulus help because he says new york city has a billion dollar hole in its budget. He will have to lay off 22,000 city workers. But, oh, by the way, he will put the giant sign in front of trump tower. One of at least seven that de blasio approved around the five boroughs of new york. But the biggest as you can see, right there, right in front of trump tower. Shouldnt bite the hand that can feed you. Stuart you cant miss it either. Were looking at pictures. This is absolutely giant pictures. That must take a whole block right there. Ash, see you soon. Staying on new york by the way, protesters gathered outside of city hall. They stayed there for over 24 hours. Are they, lauren, are they setting up some kind of a zone here . Lauren it is similar to the chop zone in seattle and occupy wall street that was here in new york a few years ago. So basically, it is an encampment. A sitn they have been there two nights. They intend to stay there until the new York Police Department is defunded. Its a 6 billiondollar budget. They want it defunded by one billion dollars. That money put into social services. This encampment. This protest has been relatively peaceful. Mayor de blasio is listening. He said he would shift some of the money away from the nypd but he hasnt committed to the amount and these protesters expect to stay there until the budget is due at the end of this month. Stuart lauren, sounds like a zone to me. Lets not get into definitions there. The airline industry, here is a number for you, at risk of losing 84 billion worth of revenue this year. American Airlines Pilots want the government to buy their middle seats. Is that a good idea . Well explain it. Cruises are out, but people are still looking to hit the water. Sales of luxury boats and yachts booming. Well tell you how much people are willing to spend to sail away this summer. Come sail away, come sail away with me just over a year ago, i was drowning in credit card debt. Sofi helped me pay off twentythree thousand dollars of credit card debt. They helped me consolidate all of that into one low monthly payment. They make you feel like its an honor for them to help you out. I went from sleepless nights to getting my money right. So thank you. Thats it. Im calling kohler about their walkin bath. [ sigh ]k you. Not gonna happen. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] hmm. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lower than some leading competitors. The bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. Kohler is an expert in bathing, so you can count on a deep soaking experience. Are you seeing this . The kohler walkin bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. Everything is installed in as little as a day by a kohlercertified installer. And its made by kohler americas leading plumbing brand. We need this bath. Yes. Yes you do. A kohler walkin bath provides independence with peace of mind. Ask about saving up to 1500 on your installation. Stuart we got a virus winner, okay, boat makers. Sales of premium boats, yachts, boosting in sales. Flying out of question for at lot of families. If youre rich get you boatage. Kristina partsinevelos in new york. There you go. Show me luxury and show me a price tag. Reporter well though show you a price tag. Boat dealers across the country are seeing rising tide of sales. You have canceled sump camps. Canceled sports leagues an canceled vacations. All 50 states have restrictions own boating. Demand especially here at al grovers marine is booming. You talked about price tags. I will jump to that, stu. Right now according to the National Manufacturers association, the average price of an aluminum boat, we can bring the numbers up in a bit, is roughly 36,000, versus a watercraft, a personal watercraft that will set you about 12,000. Overall were seeing demand booming. I spoke to the owner of this marina, al grover. Listen what he had to say about demand. Kind of shocking how it is taking off. We were prepared for the worse and we actually spun it around and have records being set almost every day. Reporter what were seeing is demand, were seeing demand for even the month of may, 75 higher compared to last year, stuart. Were seeing everybody flock to the boats because there is nowhere else to go. Of course you can socially distance. Im very far away. You have got lower fuel prices. Lower insurance costs. All this adds in. One other trend, families pooling money together to buy the luxurious boats i happen to be on. As many businesses, stu, throw it back to you, unfarther in thely they struggled throughout this pandemic and lockdowns. We know the boat dealers are definitely staying afloat. Stuart youre having far too good a time out there wont water. Reporter look at this. Are you seeing my tan, stu . My tan. Im working on it. Stuart i know you are. Come back soon. Reminds me, what was that sitcom. Three hour tour. Cant think of it. Gilligans island. President trump, first laid i did i about that leave. He will lay a wreath at the Korean War Memorial. That is the 70th anniversary of the war. If he stops to speak to reporters and cameras, well bring it to you pronto. Promise. Hundreds of National Guardsmen are out in full force protecting monuments in d. C. Democrats are remaining silent. I say america will not roll over as the mob tries to obliterate history. My take next. Where will you go first . Wherever you make go, lexus will welcome you back with exceptional offers. Get zero percent financing and make no payments for up to 90 days on all 2020 lexus models. Experience amazing at your lexus dealer. 100 online car buying. Carvanas had a lot of firsts. Experience amazing car vending machines. And now, putting you in control of your financing. At carvana, get personalized terms, browse for cars that fit your budget, then customize your down payment and monthly payment. And these arent madeup numbers. Its what youll really pay, right down to the penny. Whether youre shopping or just looking. It only takes a few seconds, and it wont affect your credit score. Finally a totally different way to finance your ride. Only from carvana. The new way to buy a car. Now every bath fitter bathbath fis installed quickly, safely, and beautifully, with a lifetime warranty. Go from old to new. From worn to wow. The beautiful bath youve always wanted, done right, installed by one expert technician, all in one day. Weve been creating moments like these for 35 years, and were here to help you get started. Book your free virtual or inhome Design Consultation today. Stuart all right. 11 00 east coast time. The markets have been open for what, about an hour and a half. Now we have turned around. We had green arrows about 10, 15 minutes ago. Now its almost all red. The dow is down a fraction. Same with the s p and the nasdaq is now up a fraction. Just about breakeven point today after yesterdays big losses. Now, early today we did learn that there were 1. 48 million filings for unemployment claims last week. That represents a modest down trend. And if you look at the white house, we will tell you the president and first lady are about to leave. They are going to lay a wreath at the Korean War Veterans Memorial and if they speak to reporters, on the way out of the white house, we will bring it to you immediately what they are saying. Now this. Dismay is giving way to outrage. In the last two weeks, we have seen a constant stream of violent demonstrations and occupations. Understandab understandably, perhaps. Many have been embarrassed that this is happening in our country. Appalled at the george floyd killing, dismayed by the violence. But nothing was done. Night after night, the monuments were toppled, the flag was burned and churches vandalized and people beaten right there. That stage of the unrest i think is over. Something is being done. In washington right now, hundreds of National Guard troops are marshaling. They will protect the statues and monuments scattered all over the capital. In wisconsin, the democrat governor, the democrat governor, has called out the National Guard. This follows the beating of a state senator who had been taking pictures of the demonstrators. Enough is enough. By the way, in manhattan, the demonstrators had actually taken down the statue of Hans Cristian hague, an abolitionist who died trying to end slavery. They chucked the statue in a lake. The politics of all this may be shifting. The silence from democrats has been deafening. They wouldnt even debate senator tim scotts Police Reform bill. They said not a word about the trashing of st. Johns Episcopal Church known as the church of president s right next to the white house. They have run away from the anarchist zone in seattle. They wont even defend George Washington. That doesnt go down well. Anarchy is not a vote winner. As the wall street journal editorialized this week, somebody has to put a stop to this and somebody has to stand up and speak out because america will not just roll over as the mob destroys history and obliterates free speech. And who is taking action . Who is speaking out . Who stands for law and order . Its not joe biden. Its President Trump. I think its about time we brought in pete hegseth. He usually enlivens us this morning. Im sure hes listening to whaiwhait ive got to say. Youre with me, im sure. You are spot on. We are in the middle of a civil, cultural civil war, a fracture in our country. Youve got one side of the spectrum in the Democrat Party which has been completely captured by leftists. If you look at these movements, whos leading them, whether its antifa or black lives matter, its effectively a marxist philosophy and it is a 1619 philosophy the founding of our nation was not 1776, it wasnt George Washington, it wasnt thomas jefferson. Abe lincoln didnt do enough even though he fought a whole war the free the slaves and emancipate them. You are seeing generals torn down who fought for the union cause. This is about the flag, stuart. This is an absolute fracture at the center of our country. We have always believed in two things at the core of america. Individual freedom and equal justice. I understand some protesters and there are some protesters believe there isnt equal justice in the application of how Law Enforcement is done but thats not what its become. This is a mob anarchist mentality thats trying to tear down the core of america. Donald trump is standing up and saying stand for your anthem, stand for the flag, protect the monuments. Yes, we can change the way some policing is done. Lets have that conversation. But inserting race more into things, making it all about the color of your skin, only makes the problem worse. The thing is, the democrats have made that deal with the far left, with the mob, so they cant speak out to stop it. Stuart the president has given voice to all those hundreds of millions of americans who are watching whats going on and are frustrated and angry about it and the president gives them a voice. Hold on a second, pete. Weve got a soccer team in tulsa, oklahoma, ditching the National Anthem for their pregame ceremony and replacing it with this. Just listen to this. Roll it. This land is your land this land is my land from the california to the New York Island stuart thats not the anthem. What have you got to say about that, pete . Soccer. I mean, maybe its a soccer problem, stuart. Im just going to start there. Stuart cheap shot. Sorry, it is a cheap shot. Problem is, you will see the same thing in football in the nfl. Maybe not the anthem, but if everyone kneels and the people who stand are the ones shamed, you still have the cultural fracture. Its insane. Its lunacy. Again, one of the few things we can coalesce behind, it used to be our founding, it used to be, you know, take 9 11, used to be the flag, used to be the pledge, used to be the anthem. They are going at the very core of those things. They want to get rid of them and replace its a fine song, this land is my land, fine, but its not the National Anthem. It goes much deeper. Stuart look, i think patriotism is on deck at the moment. July fourth is coming up, its a time when we do feel patriotic towards our great nation. But theres a new poll, one in three americans feel less patriotic this july fourth than they did last year. Now, im surprised at that because in our nation at the moment, our country, what we are and who we stand for, is under vigorous attack. I would have thought that people would rally round the flag, rally round our country and be more patriotic this july fourth so im, you know, im dismayed frankly when i see that kind of poll. I am, too, of course. But im unfortunately not surprised. Look at our education system, stuart. Im surprised every time patriotism goes up, only because so many young minds in government schools today, this is starting very young, into middle school and high school certainly in our lunatic universities and colleges, are being taught america is the problem, america is defined by her sins, america was never great, america is inherently racist, and therefore, America Needs to go. Capitalism needs to go. Freedom needs to go. Individual liberties, a bill of rights, they all need to go because it has failed too many people in their minds. Yet they have never gone around the world you want to compare america to heaven . Then shes going to fail. You want to compare america to history and to other nations around the earth, you understand we are the most free, the most prosperous, the most tolerant, the most diverse country in Human History and if you dont teach that, you dont have patriotism. Instead you have loathing for your country. Thats what the left is today. This election, stuart, is the red maga hats versus the antifa black masks. Thats what its coming down to. If you are on the left side of the ledger, you are not patriot i c ic. You dont love america. You reject it. This poll doesnt surprise me. You would like to think the fourth of july would galvanize people but frankly, the left wants to cancel the fourth. Why celebrate 1776 when so many of our founders were slave owners . That is their lens. Its not going to change. Stuart dismay is turning to outrage. Im not unhappy about it. Pete, thanks very much indeed. Always a fine Performance First thing in the morning. I dont know how you do it. Thanks very much. See you soon. Im going to put a number on your screen. Thats the number of new virus cases in wisconsin over the past week. 2,309. The president heads to wisconsin this afternoon. Blake burman is with us. Blake, whats on his agenda today . Reporter there are going to be two stops for President Trump in wisconsin. First off, green bay, a town hall with sean hannity and after that, the president will be heading to just about the far northeast part of the badger state as you can go, to a city where he will visit a ship builder that is getting 5. 5 billion, a 5. 5 billion contract from the u. S. Navy so certainly the president will be talking about jobs. But you and i both know what this trip is all about. 131 days until november 3rd. When you look at the badger state, heres why thats important. Democrats had won wisconsin seven consecutive elections until 2016. Thats when President Trump flipped that state, won it by about 22,000 votes, less than 1 . Ten Electoral College votes on the line there. When you look at the polls in wisconsin, stuart, the latest poll, marquette university, the law school there, widely respected in that state, joe biden up eight. That also matches the number of the realclear politics average, eight points as well. So it is a state the Trump Campaign is focusing on, a state seemingly that the president , if you believe the polls, trails in right now. Just to give you an idea of sort of the attention on wisconsin, the Vice President mike pence was there just two days ago. Stuart . Stuart why are we not surprised. Blake, thanks very much. All right. Im going to check a couple of stocks for you which are moving this morning. First of all, target. Interesting stuff. They are adding both fresh and frozen grocery items to their Curbside Pickup option. That will be at 400 stores by the end of the month. Not helping the stock. Its down 1. 20. Macys will be laying off about 3900 corporate employees. Thats going to save them, what, 365 million a year when all is said and done. Macys is shrinking and so is the stock, back down 3. 8 today. Now we have a couple of stories for you on airlines. First of all, ash, whats this, a new report, they are going to lose how many billion this year . Ashley how about 84 billion in the year 2020 alone. Thats from the International Air transport association that says yep, in april alone, air travel declined 98 year over year. That number, 84 billion, you can understand. Now, we are seeing on an International Level the borders are starting to reopen but around the world, governments are still having to provide help in the form of money to some Airlines Just to help them survive, and theres an interesting caveat here about the future of Business Travel. We have all wondered how many people will go back to Business Traveling in this age of zoom as was used in the pandemic. According to this group, they reckoned one in five business trips will disappear. Thats 20 of all business trips. That means 80 will go back to traveling, maybe a little optimistic. Well see. Stuart i agree with that. Some Business Travel will not take place. While youre with us, tell us about American Airlines pilot saying something about social distancing. Whats the problem . Ashley yeah. The union that represents american pilots says they want the federal government to buy up essentially the middle seats. They call it the Seats Program which stands for safe, essential air transportation seating. They say they should buy a minimum number of seats, thats the government, that is, at an average of 2019 airfares to ensure quote, that no passenger has to sit next to a stranger. Its also basically another round of stimulus for the airlines. Not sure how far that will go but thats one suggestion being put out there. Stuart one last one. Delta employees have been hit hard by the virus. Tell us. Ashley well, yes, but if you look at the numbers, look, 500 delta employees apparently have contracted the coronavirus. At least ten of those employees have died. This is according to the ceo. But the vast majority of those have recovered and keep this in mind. Delta employees, 90,000 workers, so the actual virus numbers are small fractions, around just over half a percent. It seems like a large number but they do have a large work force. Stuart they do indeed. Thank you very much indeed. Now heres whats coming up. We have a major bank blaming joe bidens lead in the polls for bringing down the market. So would a biden presidency send the economy into freefall . We will discuss that. The National Guard deployed in d. C. To protect statues from the liberal mob. Watch this. [ shouting ] black lives matter black lives matter black lives matter stuart all right. The cofounder of b. E. T. , black entertainment television, is speaking out saying people trying to tear down statues are quote, borderline anarchists. More on that coming up. First, though, the hard rock casino packs up its prize memoribilia and ships it out of vegas. What does that mean for the reopening of that casino . We will deal with that next. First, heres the script. Earth cam. I have an idea for a trade. Oh yeah, you going to place it . Not until im sure. Why dont you call Td Ameritrade 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. announcer reliability is everything. So, if your networks down, youre down. Verizon knows your customers need to reach you seamlessly. Your team needs to work from different places across many devices. Plus, you want the security trusted by some of the Largest Companies in the world. And thats why you trust us. The most Reliable Network in america. You say that customers maklets talk data. S. Only Xfinity Mobile lets you switch up your wireless data whenever. I accept 5g everybodys talking about it. How do i get it . Everyone gets 5g with our new data options at no extra cost. Thats good. Next item corner offices for everyone. Just have to make more corners in this building. Chad . Your wireless your rules. Only with Xfinity Mobile. Now thats simple easy awesome. Switch and save up to 400 a year on your wireless bill. Plus get 200 off a new Samsung Galaxy s20 ultra. And now for their service to the community, we present limu emu doug with this key to the city. [ applause ] its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. And now we need to get back to work. [ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Stuart this is not good news for disney. The stock or disney fans. In california, the park there, their reopening has been delayed. Lauren, any idea when it might open now . Lauren no idea. So it was set to reopen as you mentioned on july 17th but now, they are waiting on the state of california to issue new guidelin guidelines, then disney will figure out when they can reopen the anaheim park. Disney theme parks, the idea of them reopening, the hope, that was seen as a very hopeful sign for the state of business and how people feel here in the u. S. , things getting back to normal, but some disney workers, officials and of course, potential park goers are getting worried about this rise in infections. Stuart okay. Thats disney california. Another virus casualty weve got here, thats chuck e. Cheese. Bankrupt, are they . Lauren they are. They have filed for chapter 11. The parent Cec Entertainment filed chapter 11 bankruptcy, becoming the latest casualty of the pandemic, as it decimates much of the entertainment and leisure industry. About onethird of chuck e. Cheeses nationwide have actually reopened their doors. They will continue to operate during the bankruptcy negotiations but i look at businesses like chuck e. Cheese and i say what parent will bring their child to an environment like that without wiping everything down a million times and worrying about it . Stuart chapter 11. Lauren its true. Stuart i know its true. Im not arguing with you. Just saying chapter 11, here you go. Another virus casualty. Lauren here we are. Stuart yes, here we are. Apple responding to the rise in cases in viruses, especially in texas. Store closings in texas, susan . Susan houston, in particular. Seven stores reclosing there in houston, texas and this adds to 11 other stores that reshut last week across north carolina, florida, South Carolina and arizona. That by the way also drags stock Market Sentiment so covid cases in texas, we know, hit a single day high this week and hospitals in houston are reportedly at capacity. Out of an abundance of precaution, according to apple, they are reclosing these stores. Still, you think about it, its 20 stores out of 271 across the u. S. And even though they have reopened most of them across the United States, its limited servicing so mostly Curbside Pickup and dropoff. I think its important to note as you just heard with lauren and disney and the like, its the companies that decide what to do, whether its reclosing, even if a state orders people to stay open, right. I think thats what the stock market is reacting to. Stuart well, its the companies which have liability problems. If you open up your store, someone comes in, catches the virus, they say in your store, they go out and sue. Thats what businesses have to be worried about. Susan its their own individual mandate but also, what is capacity in the future . Is it full capacity . If disneyland is 30 full . I think there has to be a rerating and thought process in terms of whats full and whats capacity and how that factors into stocks. Stuart social distancing is the question here. How much longer are we going to have to keep six feet apart. All right, susan. Good story. Thank you. How about the future of vegas casinos. Like the hard rock, for example. Its been closed since february. This video shows trucks hauling away its famous rock memoribilia. I think we do. There you go. Theres one of the trucks. Out of town. All that good stuff, gone away from vegas. So here is jim allen, the chair of Hard Rock International and he joins us now. Jim, how come all that memoribilia is going out of las vegas . That implies to me that youre not going to reopen on the strip. Well, good morning to you and your office, stuart. Actually, the opposite. We believe the right place for the hard rock brand in las vegas is on the strip. For many years, we purchased the company back in 2007 and we always looked at the las vegas property, it was the one asset that did not come with our purchase. Peter morton, the founder, actually still owned the building at that time. So we had looked at purchasing it many times through the years but we just did not think the physical plant, the location being off the Las Vegas Strip, was something that was attractive to us on a longterm basis. So we were able to buy the final rights back two, three months or so ago, work a deal and we wish the best of luck to juniper capital and the brand are open to utilize virgin for their property to be successful but we are now actively in the market looking at other opportunities on the Las Vegas Strip to reenergize the hard rock brand and frankly, a new facility or major, major many billion dollar renovation to an existing one. Stuart okay. Vegas now says that you go into a casino, youve got to wear a mask all the time. Thats quite a restriction on the fun and games that go on in your average casino. What do you think about that . Well, we know a little bit humorously but frankly factually that some of the vegas operators are a little bit upset with us because we are the ones that frankly started this. The Hard Rock Hotel casino in tampa is the largest ebita producing casino in the United States and fourth in the world. We opened well over a month ago and i made a commitment to our guests and our employees that we were going to create an environment that is as safe as possible. I was listening to your Previous Story about capacity. Well, capacities are important but its also about utilization. Basically, we said we are going to put every employee and guest through body imaging, to have thermal temperature checks, every employee will be Wearing Masks and gloves as the guests will be Wearing Masks. We added all kinds of dividers at our tables and slot machines, basically created a social distancing sign package that people should buy stock in sign companies, because theres a lot of signs being made. With all that said, we have found it to be working very well and frankly, as we know now, yesterday, las vegas has now instituted a policy where they are going to require masks, not just in casinos but in public areas. As we know, it increases your safety by up to 66 . Stuart got it. Look, jim, im sorry ive got to cut it short. Got to go to the president here. Jim allen, Hard Rock International chair, thanks for joining us. We wish you the best of luck. All right. Talk to you again. Stuart you got it. Lefthand side of the screen, now we will go full screen, a live look at the Korean War Memorial in d. C. , of course. Theme the president and first lady laying a wreath to mark the 70th anniversary of the beginning of that war. 54,000 u. S. Troops were killed in the korean war. All right. Now we are going to look at the Movie Theater chains. One of them says they will play classic films when they reopen. Watch this. What happened to your father. You told me enough i am your father. Stuart remember that . I remember that so well. Okay. If you really want to know, we are going to tell you where to see the original star wars movie on the big screen. We will tell you where to go if you really want to see it. First, though, i say the democrats are doing nothing to stop cancel culture from growing. Our next guest says the democrats are weaponizing wokeness. More on that after this break. Yeah yyeah yeah hey, hey tums ver bell rings la stick when heartburn hits fight back fast. With tums chewy bites. Beat heartburn fast tums chewy bites stuart all right. We still have some red on the screen. That is the s p is down just a fraction but the dow is up four and the nasdaq is up six. Not much serious Stock Price Movement we are seeing so far today. Do check google, because they are going to start paying some publishers for stories . Tell me more. Susan finally. For many years, media executives complained that google was giving away their content for free, whereas the Media Companies have to pay the people that write and produce the content. Now thats changing. Google is starting to pay for news content from select publishers, they say, as far as a new Licensing Program which is the first step in what they call a new news experience thats coming on google later on this year. This will start in germany, australia, brazil and google will pay the publishers for content that their users get free access to. We know multiple countries and jurisdictions, they have been forcing googles hand in this direction. Australia and france among the countries that were actually ordering google to pay for this content or they would enact laws to force google to do that. Also by the way, this is also a competition question as well. Facebook Just Launched a new news tab here in the u. S. That means New York Times, wall street journal and others, they will get paid for the articles that facebook users access on that platform. So you know, Media Companies which are tight on margins and profit, this is good news for them. Stuart so do you think if i as a conservative were to publish some kind of article, you think google would pay me for it . I think not. Susan well, you know, the wall street journal some would say is rightleaning, if its content people are willing to pay for. Stuart they wouldnt give me a dime. Thanks very much, susan. I think thats obvious. It is thursday. That means dan henningers on the show. The wall street journal deputy Editorial Page Editor on the righthand side of your screen as we speak. Dan, lets talk about these statues being defiled and toppled. I have read your article. Your thursday article. It says you are saying the left, the left is driving american liberals over the cliff. What do you mean by that . Well, what i mean is that, you know, for years, the traditional liberal leadership has been in charge of the Democratic Party and people are now asking, looking at what has happened say with the monuments and statues the last four weeks, where the heck did this come from, how did we get so ahistorical that we are attacking statues of George Washington and ulysses s. Grant. Thats the Progressive Left thats doing that and the answer is this began at least 30 years ago in the universities when they started to create speech codes which was the seeds of cancel culture, university, liberal University President s stood aside for that and then eventually, the students went after conservative professors who were driven out of academia and finally they started attacking their own liberal professors accusing them of racism and all the while, liberal University President s and their liberal colleagues allowed this to happen. Now i think the progressives on the left have seen their moment, they have decided they dont need that liberal leadership anymore, and as i say, they are pushing them over the cliff. You know whats striking about this, stuart, is you hear virtual silence from joe biden, a traditional liberal, virtual silence about the attacks on these monuments and nancy pelosi herself, siding with the protesters. So the left is in charge now, the traditional liberals have been set aside. Stuart stay right there for a second, because ive got a story here that is germane. A New York Times poll out this morning shows President Trump is behind, trailing joe biden by 14 points. Susan, come into this fast here. I understand that wall street is getting nervous about a Biden Victory . Susan thats right. Thats why we have seen some of the selling so far this week. Bank of america looks at Historical Data all the way back to the 1950s and they found when the white house flips from republican to democrat, the s p 500 underperforms over the following three months compared to when a democrat flips to a Republican White House instead. Its not just boa, bank of america. You also have an rbc Investor Survey that found a majority of investors say this a trump reelection will be bullish for stock markets whereas 60 say a Biden Victory in november would be bearish for wall street and threequarters of investors say the president ial vote is the biggest economic concern, even above covid19, and meantime, we have investment banks like Goldman Sachs and Morgan Stanley also Credit Suisse along with bank of america that say stock gains will be limited, capped and stock markets might even fall if biden wins in november. You really cant discount the fact that investors are pulling some of their prophets, holding more cash into the november vote. The reason why theyre concerned is taxes since we know that biden says he will raise the Corporate Tax back at the 28 from current 21 level and then also all that Government Spending which adds to the deficit obviously. Stuart im not surprised that wall street is getting a little nervous about a Biden Victory but dan henninger, come back in again, please. Because it seems like, i mean, biden is winning here by such a large margin, it seems like being quiet on, you know, the cancel culture and being quiet on the removal of statues, its doing the democrats good. Theyre winning on that. Well, no, i dont really think theyre winning on these events to the extent the American Public is aware of them. But biden has been completely silent and i think, you know, the polls are something of a lagging indicator. The protests continue and i think thats going to seep into the american consciousness. President trump keeps insisting he will put that front and center and they are indeed, i would assume, going to be one, two or three president ial debates. Joe biden is not going to be able to hide in that basement forever. I think people know they have a difficult choice to make and they want to see these two candidates put in front of them. Mr. Biden is going to have to stand up in public and address what has been going on, the threat to civil order in the United States, as well as the subject that susan just described. What would he do to a staggering recovering economy if he were president and indeed, if the democrats took control of the senate. Are they really going to raise Corporate Taxes and personal taxes and jump on the back of a recovering american economy. Hes going to have to answer those questions directly. Stuart yes, he is. Dan henninger, thank you very much indeed. See you shortly. Thats a fact. Okay. Weve got news out of texas on the virus. Its on the bottom of the screen right now. Tell me more, ash. That might have turned the market. Ashley yeah. We are just getting these headlines from Texas Governor greg abbott. Texas as we know has been a hot spot for resurgence in virus cases, has Just Announced a temporary pause, i say pause, of additional reopening phases. They will stay where they are. As you can see on the screen, 5,551 covid19 cases in the last 24 hours, which in florida, also more than 5,000 cases and also, by the way, in california in the last 24 hours, we have seen more than 5,000 cases. For now, texas announcing through the governor they are going to stop the reopening plans they have in play. They will put it on pause. Stuart that is not a plus for the market. Its a negative. The market now 95 points down for the dow industrials. Now, the classic movies, gone with the wind is returning. To hbo max, with a near fiveminute disclaimer attached to it. We will tell you what hbo wants you to know about it coming up. And the b. E. T. Cofounder is speaking out. Protesters trying to topple statues around the country, hes got to say this. Roll tape. People having fun that they can go out and pull down a statue and have the mistaken assumption that black people are sitting around cheering. Stuart he says the protesters are missing the point. We will discuss that after this. Just over a year ago, i was drowning in credit card debt. Sofi helped me pay off twentythree thousand dollars of credit card debt. They helped me consolidate all of that into one low monthly payment. They make you feel like its an honor for them to help you out. I went from sleepless nights to getting my money right. So thank you. vo at whether on the track,that exhor the everyday drive. Ty, 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. Stuart all right. We are on the down side now to the tune of 68 points. Maybe the market was moved by the statement out of texas. Governor abbott is going to pause the reopening process. That means delaying some opening up moves. Market doesnt like that. We are only down 68 points right there on the dow industrials. Now lets get some more reaction to what well, heres the story. Hundreds of National Guard troops are amassing in the nations capital. Protesters say they are going to tear down the emancipation statue in lincoln park at 7 00 p. M. Tonight. They made an appointment. We will be there, we will tear it down. I think the National Guard will show up as well. Now listen to what b. E. T. Cofounder Robert Johnson had to say about all the statue topplers. Roll tape. You know, its, you know, people having fun that they can go out and pull down a statue and have the mistaken assumption that black people are sitting around cheering for them, saying oh, my god, look at these white people, they are doing something so important as taking down a statue of a civil war general who fought for the south. You know, black people, in my opinion, black people laugh at white people who do this. Stuart he tells it straight. Big smile there. Righthand side of the screen, the cochair of black voices for trump 2020. Pastor, welcome back. Always good to see you. Thanks for having me. Stuart let me ask you an honest question here. When you walk past the statue of say a confederate general, you know, when you walk past one of them, are you happy to see it toppled and pulled down . Well, first of all, i probably have to read the plaque to find out who this person was and what this person did. Stuart thats true. Thats first of all. Second of all, im most focused on our future than on our past. Thats part of americas fiber. Thats part of america, thats part of what makes america what it is today. The fact that slavery was never about unanimous consent in america. America was never 100 proslavery to the extent that we fought a civil were ar to en slavery. They asked a rapper recently a question about the lyrical content he had in the 90s, he was mysogenistic and they asked him and he was homophobic as well. They asked him would you stop playing your music . He said no, no, no, im not doing that now, thats not who i am now. However, thats who i was then and who i was then contributed to who i am now. So all of that, americas history, contributes to americas present. The fact theres awareness of injustices in the past. But im in agreement with Robert Johnson. We are not sitting at home cheering like yeah, go find some more statues to tear down. There are more important things that concern the black community than the pulling down of statues, especially now they are pulling down grant, who won the civil war to help liberate us. They looked at winston churchill, whos that, what did he do, i dont know. Lets pull his statue down. Come on now. Its getting ridiculous out here. They are doing it for the sake of violence. Stuart let me bring this up as well. Robert johnson, b. E. T. Cofounder, wants 14 trillion worth of reparations for slavery. Whats your take on that . Reparations is not an easy topic to address. You have the question of how much to how many, you have the question of the fact that only a small percentage of americans owned slaves. The country was not entirely a proslavery country. We had free states and we had slave states, to the extent that we fought a civil war for it. Thats a slippery thing right there. I think reparations should come in the sense of levelling the playing field, have equal access to capital for all ethnic communities, that we can have Educational Opportunities provided for us as a community, but as far as handing out cash, i dont think thats the way. Even though i have to be honest, stuart, im always honest with you, if they start handing out reparation checks, im cashing mine. Stuart you are an honest man. How do you survive in politics . You are an honest man. Im not advocating for it, but if they start handing out checks, im not giving mine back. I will cash mine. Stuart what a pleasure it is to see an occasional smiling face on this program. You brighten up our day. You really do. Thanks, man. I appreciate you. God bless you. Stuart god bless you, too. Do you remember gone with the wind . Hbo pulled it from their streaming service. Hbo max. Because it was essentially portraying the south in a favorable light back then. Now they are bringing it back with a disclaimer, before you can actually see this movie. Whats it say, lauren . Lauren hbo max is playing gone with the wind again and that disclaimer by a film expert says this. 80 years after its initial release, gone with the wind is a film of undeniable cultural significance, not only a major document of hollywoods racist practices of the past but also an enduring work of Popular Culture that speaks directly to the racial inequalities today. So you have that video in the beginning and then a one hour long discussion about the times, about history, after the film. Stuart well, i think thats a pretty good thing. I dont have a problem with that. Do you . Lauren no. You know, its so interesting as we talk about monuments coming down and films that should have disclaimers or not be released anymore, this one, the scholar who gives the intro to the film, she said it beautifully. She said its enduring, lets keep it up and tell people why it was wrong back then. Stuart yeah. Nothing wrong with putting things in context. Nothing wrong with that at all. Thanks, lauren. All right. I will take a few stocks to take a look at. First of all, tesla. Where are they this morning . There we go. Tesla is up today, 1. 87. 962. Elon musks other company, that would be spacex, is making a big announcement about a new satellite launch. What that means for the future of the internet. We will tell you coming up next. Where will you go first . Wherever you may go, lexus will welcome you back with exceptional offers on exceptional vehicles. Get zero percent financing and make no payments for up to 90 days on all 2020 lexus models. Experience amazing at your lexus dealer. Sawithout evenon yoleaving your house. Experience amazing just keep your phone and switch to Xfinity Mobile. You can get it by ordering a free sim card online. Once you activate, youll only have to pay for the data you need starting at just 15 a month. There are no term contracts, no activation fees, and no credit check on the first two lines. Get a 50 prepaid card when you switch. Its the most reliable wireless network. And it could save you hundreds. Xfinity mobile. Stuart might as well be walking on the sun. Im not sure who sang that. Nonetheless, we will give it some credit. Theres remarkable video here. You are watching a tenyear time lapse of the sun captured by nasas Solar Dynamics observatory. It shows what the sun looked like from june 2010 to june of this year. Looks pretty much about the same to me. But you know, im no astronomer. Astronauts from the spacex launch will take their first space walk fairly soon. Susan, what have you got that makes this come alive for me . Susan okay. One of them is the two astronauts that were on the crew dragon 25 days ago so crew dragon, these space walks have to go well because the crew dragon las to return to earth sometime around august 2nd. This will be nasas first ocean splashdown return since 1975. It will be important because they have a fourman crew that will go into space in midseptember that they need to get ready for. What we are looking at right now is elon musks ambitions to go to mars. Look at these giant fuel tanks thats going to be part of that starship that will get us to mars hopefully he says in the next two years or so, and they will colonize the red planet. We know elon musk has these big space ambitions and we know spacex and the crew dragon, at least hes fulfilled one of them. Lets have hope for the red planet at sometime in the future. Dont you think, stu, elon musk should go first . Stuart i dont know about that. Its coming back that gets me worried. Okay. Nasa is naming its washington, d. C. Headquarters after mary w. Jackson, shes the first black woman engineer ever to work at nasa. She was portrayed in the movie Hidden Figures showing her 30year career as a mathematician and human computer. Now you know. More varney after this. We could never do what they do. But what we can do it be a partner that never quits. Verizon is the most Reliable Network in america. Built for interoperability and puts First Responders first, giving their calls priority, 24 7. We do what we do best so they can too. Stuart we really do like hearing from you so, starting tomorrow well have a new segment on the show called friday feedback. Were compiling your comments about the show. So email us your thoughts or you can send a video. Send it to varney views foxbusiness. Com. You might see yourself or your comments on the air. We start tomorrow. Also tomorrow, former National Security advisor john bolton, he will be on this show to discuss his big new book. That is tomorrow, not exactly sure of the timing but owe will be on the show tomorrow. It is all about his book. As we leave you, i check the markets one more time. We have not had Significant Movement in stock prices. Dow down, s p down, nasdaq up. Huge losses yesterday. No recouping so far today. All right. Thats it. My time is up but neil is waiting to take it away. Neil, its yours. Neil thank you very much, stuart, well follow up on the markets and what is going on knew. The big news item as stuart told you a little while ago, Texas Governor abbott is slowing down reopening faces, a spike in cases particularly in the houston area a lot of folks very, very concerned. Potential shortage of hospital beds. Intensive care units around the state. Not widespread to stopping the overall reopening or reversing anything but enough to give pause. A number of other states have had problems, florida, for example, 4. 6 new jump in cases. California saw thege