Transcripts For FBC Varney Company 20240712 : comparemela.c

Transcripts For FBC Varney Company 20240712

Or is Something Else to play. We will get into it but as i can see the major indexes down in the nasdaq up 3 . Following reports of the november surprise on a vaccine bio pharmacy ceo pledged to take the over speed when it comes to treatment. Tesla feeling a little dented this morning after getting snubbed by the s p 500 despite four straight quarters of profit the benchmark index says no thank you very much, we will discuss the implications of that. In Washington Congress returns as a stimulus stalemate continues, white house chief of staff mark meadows kelli Maria Bartiromo in the last hour he thinks the deal will get done and soon. We are 56 days away from the election for the battle of the swing state and definitely heating up. President trump touting a rebounding economy as a hits florida and North Carolina today and we will see him leave later this morning. The president is threatening to cut ties with china and issues of stock morning if joe biden wins. And how about this, the hit that everyone is talking about, top rank Novak Djokovic disqualified from the u. S. Open tennis tournament after accidentally hitting a line judge with the ball and by the way it is cost him millions and prize money as well. You get it all, sports, money, politics for the price of one. Varney Company Begins right now. Ashley we celebrate the American Worker and in the midst of the fastest economic recovery in u. S. History, we are rebounding much more quickly from the pandemic, is a vshaped, probably is supervened and biden in his liberal running mate most liberal person in congress, not a confident person in my opinion and he will destroy this country in this economy. Ashley there you have it from the president himself the economic recovery in the history of our country. Lets bring in market watcher mike murphy, good morning to you, the president mentioned a super v recovery that is a capital v, do you think thats on the horizon . In morning to you, i do. As supervened im not sure how you define the economic recovery taking place right now is something that a lot of people were betting against just six month ago when we were going to the pandemic. Were already getting jobs back and people back to work i am in new york city this morning and things are looking aside from the mass, things are looking a lot more normal than i wouldve expected. The economy is recovering and its a super b meaning a fast recovery but not with President Trump, here we come. Ashley is the pace picking up, it seems to be very selective in those parts of the economy so theyre doing better than others. A lot of times what were looking at, the economy was going along, things were going great, unemployment was at historic growth in historic low levels across the board and then we got blindsided by a pandemic. You had a huge drop in the lot of people trying to pin that on President Trump which is not fair to do. As we get past the pandemic that we talked about a lot, now were back to the economy as it was preprinted on it. That is growth, we are seeing jobs being replaced and they may come in different sectors of the economy but American Workers are going to be going back to work and they will put their money to work. We will be back in my opinion before the end of this year and its a booming economy in the United States. Ashley very quickly, i gotta move on, the markets itself, is this a healthy correction or something more sinister. Whenever you pull it back into healthy correction but i think the market had a huge rally and we went up very quickly, very far, very fast. If we correct 3 , 5 or 10 , i think thats completely normal and to people at home who have been watching apple and tesla and sell those pullback, pick your number and pick your entry spot if you want to get in because youre getting an opportunity. Ashley thats a very good point, thank you very much, i appreciate your time and as you mentioned, another story of the morning, tesla taking on the chin. The spring and soothingly, what is the deal with tesla. Susan tesla will not be included in the s p 500 after all. Many thought it was a certainty that tesla especially after tesla posted first full business era profit, that is four straight quarters and thats the main criteria to get listed on a brighter index and the market cap above a billion dollars which tesla easily beats over 400 billion surpassing these seventh Largest Company in the u. S. Tesla gets snubbed by the s p 500 for more than much Smaller Companies like the sc, the paradise and the scratcher for someone on wall street and is sold all of the 5 billion in new stock that offered last week. A few factors in the s p snubbed in the surprising news that gm taken 11 stake in it made pretty good money so far this year. Were not gonna cry over the losses right now. You did mention gm steak, what is the story behind that. Susan take a look at the stock price we were up as much as 45 for nikolai this morning, gm was up as much as 9 in gm is paying 2 billion for the 11 stake in nikolai, nikola has never sold or delivered an electric truck but it does have 10 billion worth of deposit, they own future orders in gm stepping with cash, expertise and building nikola cell power and pickup truck called the badger will be released in two years time and we know electric cars are the future, big growth opportunity, hot on the stock market and the Gm Partnership gm can scale and tesla and nio should be concerned with this competition. Ashley interesting to see the badger. Finally what about apple, certainly in the red this morning. Susan we have news that apple will start production of the first 5g iphones in midseptember according to japan asian review. The analyst is pretty bullish, i was with a note last night that i read the channel check and apples asian suppliers confirm there is an uptick in production and the new 5g iphone will hit shelves next month and october, not that much of a delay, applecart of the big truck that have run up so much this year end some apples run up along with the other big tech names processed by weird activity in the market as im sure youve heard about. In the big bets into options but the tech names like apple will continue to go up and thats why some people blamed the current volatility on the softbank. Ashley finally, you mentioned softbank spending billions, what stocks do they buy into. Susan amazon, microsoft and netflix, tesla the regulatory filing, official word but no specific when it comes to the options of trade you dont have to disclose that to the fcc, many think that the big five tech names, the apple, facebook and google along with the other ones are part of the auction trade, this is what we call and unwind in the market, capping those trades and taking money and pulling money out of the stock market because of you think about it soft market has 4 billion in option trade and that could be leveraged up to 50 billion in. Stocks, traders think options were the weird movements for the last week and the spike in sales force of 26 of one day after the earnings and they presume it rocketed up 50 last week on tuesday and the emergence of the robin hood factors as well in the online trading up in the army of traders access option trade which has had an effect on the ups and downs of the stock market so far this year. Ashley great stuff, explained the volatility. Another big week for earnings. Come in lauren simonetti. Youre watching lululemon. Lauren good morning welcome back. They have a 50 billiondollar market cap, that may be the highly valued Specialty Retail brand out there, huge. They mere in fitness and its only added to the evaluation. Take a look at the stock, up 56 since january, 86 over the past 12 months, the question right now as they report tonight, enough is enough or is there room to grow, some analysts say theyre in a sweet spot, theyve got online, casual wear which everyone is wearing right now and they got connected fitness but others say they are carrying a high level of inventory and they could be overvalued at this point and they are saying it might be reason to sell or not buy anymore at 352 a pop. Ashley halffull or halfempty depends how you look at it. Susan what you got your eye on this week. Susan im checking out slack, they reported earnings today after the market closed, work from home winter during the pandemic and the markets are hoping for an update on slack users because we know the end of march they said they had 12 at half million users and that number has shot up since then in those months in their hunting for the next zoom and apparently slack is a big contender to be the next zoom. Ashley very interesting. Good stuff. Thank you very much. Lets take a look at the futures of reset a lot of red on the screen, the nasdaq done 350 points, right about 3 , the s p gone more than a third, overall is down 235point but still less than down 1 in the premarket, possible foods expanded into canada, how did they stand out against all the other meatless competitions. I will also committee cfo later this hour. Could the debate tell President Trump when reelection, new poll suggests that 47 of voters think that is possible. We will debate that ourselves coming up. Democratic vp nominee Kamala Harris said she would not trust President Trump on any vaccine release before the election. Rotate. Lets just say there is a vaccine that is approved and even distributed before the election, would you get it . I will say that i would not trust donald trump. Ashley all right, lets see what doctor marc siegel has to say about that. I will be asking him next. Stay restless with the icon that does the same. The rx, crafted by lexus. Lease the 2020 rx 350 for 409 a month for 36 months. Experience amazing at your lexus dealer. I buy my own rocks and i flaunt it rolling through the streets so stunning you know im a diamond honey im a celebrate this feeling watch me while i break the ceiling you know that unstoppable feeling so ima showem how im shinin walking bold. Ice on me raining down like Diamond Rings everyday did you know that you can shop online with a virtual consultant . Ask about special financing yeah i do it right cuz with the diamond credit card. Im a diamond. You can go your own way go your own way your wireless. Your rules. Only Xfinity Mobile lets you choose shared data, unlimited or a mix of each. And switch anytime so you only pay for the data you need. Switch and save 400 a year on your wireless bill. Plus, get 400 off when you buy the new Samsung Galaxy note20 ultra 5g. Ashley welcome back everybody. A quick check on the vaccine makers, President Trump offering new optimism on a vaccine timeline. Lets see what the president had to say. Rotate. The vaccine will be very safe and very effective and it will be delivered real soon, if we could have a very big surprise coming up. What i said by the end of the year that i think it could be sooner than that, it could be during the month of october actually. Ashley the month of october, that would be quick, next month but not surprisingly Kamala Harris not on board with the president s prediction. But take a listen to that tape. Lets say there is a vaccine that is approved and even distributed before the election would you get it . I think thats going to be an issue for all of us, i will say that i would not trust donald trump, i will not take his word for it. Ashley we just got word either way with response to although this that nine big pharma ceos have pledged to put safety over speed when it comes to these vaccines. Its a good time to bring in doctor Marc Siegel Fox news medical contributor. Good morning to you, do you think this vaccine will be november surprise, possibly october says the president. It might very well be, actually the ceo of pfizer announced on the today show this morning that he expects to have an answer on the Pfizer Vaccine which is one of the messenger rna brandnew technology vaccines, he says pfizer will have an answer by the end of october. There you have it with pfizer, the two other vaccines in the works with operation warp speed in phase three trials, you have the Oxford Astrazeneca vaccine and the moderna vaccine, those three other ones were looking at most closely right now. Ashley very quickly on the political side we have, the hearsay and i would not take it because its been rushed through, just a job at the president , not at the medical community. This vaccine is available will your confidence be safe . Im going to take it and ill tell you Something Else, that is a disgraceful comment because were talking about science all the way along here, phase i, phase ii trials it showed robust response and safety and we have a data safety board that works in the United States to see from hhs whether these things are safe and effective, there is no way that a vaccine emerges without really careful study and were talking about 30000 people that are studying phase three trials. No reason to make this political. We have enough era vaccines in this country and we need to be afraid of the virus, not the vaccine to conquer it. Ashley well said. Very quickly i gotta ask about labor day weekend. Lots of people gathering beautiful weather on the east coast, people going to the beach, do you expect a spike in cases . Im keeping an eye on that im concerned about it, so far we have not seen over the weekend and the numbers are down and that does not mean they wont rebound. I dont like that we can get a consistent policy across the country where people physically distant and wash their hands and wear a mask especially for in the closed areas. Outdoors less of a risk than indoors. If we get past the next. And can keep the numbers down, hospitalizations have been down and were heading in the right direction. Especially with fall coming, get your flu shot. Ashley get that in at the end. Thank you very much for joining us this morning, i know stu will not get the flu shot but thats another story. All right, im sure you will. Good news for the airlines all spring back in susan, Morgan Stanley is now bullish on the airlines. Susan i think stu might get a flu shot if we convince him this year. They think that air travel demand is growing faster than anticipated and there started the coverage on industry calling u. S. Airlines a tractive. The recommended southwest, jetblue and delta in particular prefer these airlines were domestic and u. S. Air travel they say in a loyalty program, morgan analyst say while recovery will be bumpy from coronavirus and there are potential pitfalls ahead, passengers are likely to return to the air once a vaccine is available in demand could reach precode level by late next year, that sounds pretty bullish, thats about two years ahead of other forecasts. Ashley very bullish indeed but will have to wait and see. Staying on the airline, united more good news. Lauren added more roots to the october schedule which is for optimism. Lauren thats important october is a slow month, after summary before the holidays. The fact that they are adding, 46 of the 2019 schedule is a good sign, their restoring service on 50 roots and train routes. They will adjust them and fly when theres consumer demand. People are not going as much during the week and they will add flights to popular weekend getaways. But this is in what susan just reported, Morgan Stanley the ceo of united says he does not expect demand to hit 50 of previrus levels until there is a vaccine. If there is a vaccine at the end of the year, maybe we will see that Revenge Travel with people who postponed their dream vacation planning them again. I dont know, i hope we get the travel industry back, i think people are sick of doing nothing. Ashley i think you are right, very quickly wifi usage surging, do you want to get into that. Lauren we always talk about changes in the pit them in. We are seeing inflight wifi for the few people that are flying at alltime highs meaning when you do fly you want to stay connected the entire type. Ashley very quickly before we head to the break, Senate Majority leader Mitch Mcconnell says he will move the boat on the republican coronavirus a bill as soon as this week and of course we will be watching that, the democrats and republicans way upon what the stimulus or package will be but there you go its a sign of progress but the opening bell is next and it looks like a down start to the new week. So youre a small business, or a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Hello, im michael youssef. Lately, we are hearing so many conflicting voices and i dont blame you if you are anxious and worried and troubled. But if i told you that theres only one voice that you can absolutely trust. After all, he wants nothing from you and wants to give you everything. Im talking about the lord jesus christ, who said, come unto me, all who are carrying heavy burdens and worry and anxiety. And i will give you rest. Hes the only one who can give you true rest and peace. Will you come to him . [female voice] are you waiting to find a trustworthy voice in the midst of the chaos of this world . Visit findingtruepeace. Com to find a voice that will never let you down. Again, thats findingtruepeace. Com. Ashley all right just a couple of minutes from the open as you can see back to volatility that we see among the big tech titans and the big tech support are so far a little bump in the road. A managing director at rbc. What are you telling your clients right now about big tech. What is the advice. The set up in the facts, we had a very volatile upmarket

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