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 abou