These days lets face it can happen to anyone because incidents like this are becoming common. Dont like that, happen last night, the confrontation again in louisville, demonstrators try to set the library on fire, a black cop shot in the stomach, 24 rest, urban violence is an election issue and polls show a sharp decline for antipolice demonstrations. Thats that, lets get back to money. After battling the threat of impeachment, Speaker Pelosi and the democrats are pushing a 2. 4 trigon dollar stimulus plan, and was 3 trillion and now its 2 trillion, now they come down, we dont know whether the treasury secretary will go up from his original trillion dollar, 1 trilliondollar plan. Not that much action in stock so far today, the stimulus plan news not really affected the market, the dow will be down 100 ands and p down a little bit but the nasdaq looks like a gain of 16 points at the state, not Much Movement but look at this, william hill, the reddish bookies getting to takeover bids and the stock is up 35 , this shows you how important sports gambling has become on the campaign trail, all trump all day, hes attending events in florida, georgia, washington, d. C. And virginia all in one day. He is not done until midnight tonight. Nine times in the last month joe biden has stopped campaigning before noon, he put a lid on activities and today bidens only event is to pay respect to ruth bader ginsburg. Stuart a big show, previewed tuesdays debate, more on joe bidens very slow and easy campaigning day, feedback friday, we are jammed packed. So the friday edition of Varney Company is about to begin. We have to be very careful at the ballot, the ballot set the whole thing, we want to make sure the election is honest and im not sure it can be. I dont know that he can be with this whole situation, unsolicited ballots, millions being sent to everybody. Stuart the president is doubling down on his skepticism of the Election Results. That as a searing new piece from the atlantic alleges that the president s campaign is planning to bypass completely the results if he loses. However, i remember Hillary Clinton gave joe biden a similar piece of advice just last month, watch this. Joe biden should not concede under any circumstances because i think this is going to drag out and eventually i do think he will win if we dont give an inch and if we are as focused and relentless as the other side is. Stuart six and one and half a dozen another, its obvious we will not get us pdb election result the sheer. I think everybody else as well. Goldman sachs, they waited as they say with their opinion on the election. Susan, what is going. Susan goldman says it is baked in a delayed election result could hurt stock market, goldman predicting we will have a consensus of the winner on the evening of november 3 because they say a combination of early results will get voter turnout, county level data in the known margins of error. A number of stately battleground states to be counted well before the election, that means that stockmarkets can trade the results of about even if we dont have polls calling on the evening of november 3, you have a good sense of who one. Goldman is a little calm then whats happening in the market because if you look at wall street, they are scrambling to buy insurance to an unknown election result pain future contracts just in case, this is what they hedge and we call them options. That makes the election the most expensive risk event and option history. You have to pay to protect herself. Stuart goldman is saying light and up a little bit, calm down a little bit. Susan you see the volatility. Stuart exact opposite of what ive been saying but i will not argue with Goldman Sachs. But i will. Market watcher jonathan ho need to way in this friday morning, i say the election is still the main reason for all the volatility and the downside move, the selling before the election. What do you say. The volatility indicator is in suggesting this will be the most volatile election in history. We are seeing where investors are running out of what they call risk asset stock mutual funds a bond mutual funds. The investors are preparing themselves. The pandemic, stimulus and more stimulus and toward the election theres a lot of reasons that shortterm there moving downward and investors are preparing themselves for that bad. Stuart are you in a cave, im getting a lot of echo, not reber but a wrong expression but move closer to the microphone. Are you doing i know you run a hedge fund, i understand that, you dont necessarily invest in the bigname techs in the Industrial Companies but would you advise anybody, our audience for example to do any selling right now . It always comes down to your own context of course where they are in it for the long term, 5 or 10 should not make that big of a difference bottom line. For people who are closer and they need those risk assets, then we dont buy the dip, we never note if its a dip or beginning of a longerterm trend. I wait to see before new money and would rather buy it higher at four, five, six or 8 higher than where it is and wait to see that so you know the market is still falling. Stuart we will take it from the man in the cave and an extreme closeup shot but we will take that. Jonathan hoenig. Thank you very much. It was a pretty good closer. Next Pension Funds are moving more money into stocks, that sounds like a positive. Susan Interest Rates close to 0 they probably will go up for another three years according to Jerome Powell the Federal Reserve. A petrified the likely that they will move more of their money into the stock market, the public funds excluding Social Security managed 3. 7 trillion across the country, thats a lot of money, they only hold 43 in stocks so far compare that to seven years ago when the holdings were about 50 , there is room to put more money in the stock market and given that pension fund they need 7 return in order to fulfill their future obligation and pay us and theyre not getting that in bonds when Interest Rates are close to 0. The thinking is a lot more money will move into u. S. Stockmarkets, that means more buying, more gains but with the selloff this year and the month were looking at the worst september in at least nine years, investors have the Third Largest in history with close to 26 billion being taken out of u. S. Stock funds. Stuart of the pension fund put a small proportion of the trillions into this dip and by this dip, you will see a fast rebound. Stock market positive. Why dont you go through the Big Tech Companies as you always do, i see they are all up this morning. Susan all green we started off a little bit lower than this so not bad, they tried to force apple to pay up to 15 billion in taxes, that the headline that the court ruled in apple favor, rbc came out with what abiding presidency might mean for big tech. It is mutual to slightly negative with corporate taxes going up and he will include amazon tax forcing companies to pay at least 50 and it would hurt profit by 9 , we know that, more regulation, however, good news protect because biden will allow more immigration, less china tension and a 300 money billion dollars in tech and infrastructure. Stuart they are all about icy out lot 109 despite the threat of a 15 billiondollar tax. Susan they are the one the court battle. Stuart i think this is awful stuff, video taken outside of a restaurant in st. Petersburg florida, protesters disrupting a couple while they are trying to dine outside together. We will have more on this but one of these days protesters will challenge the wrong innocent people. Its going to happen folks. Counted, nine the number of times biden has scored a media lid on his events before noon, he dont come pain afternoon on nine days of the month. The president has taken notice of this. Watch this. He does a little all the time and im working my ass off im in texas, im in ohio. Im in North Carolina. Im in michigan, im all over the place. Wisconsin. Stuart nine lives in a month, this will President Trump finishes up a jampacked week today he goes to three states in the district of columbia, my take on that coming up at 10 00 oclock. Meanwhile Speaker Pelosi back in for impeachment, we will take what might be behind that. 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Stuart look at bristol meyer, not Much Movement but they have announced they have positive results from phase three of a Bladder Cancer treatment, not a virus or vaccine but a Bladder Cancer drug, the stock is up almost 1 on that. Now novavax, susan have i got this right, they are up 5 into the last phase of the vaccine trial. Susan they were up as much as 7 in the premarket, phased three joining nine other boxing candidates in the final world and this is a partnership with the uk government and they are expected to an intern and roll in 10000 participants in 150 vaccines in development around the world in china, russia and elsewhere in the uk as well and that includes pfizer, moderna, j j, johnson johnson, we could get data by the end of october, november or the mentoring approval could happen before the end of this year end the full scale of distribution will take place until next year but you see the bow techs getting rewarded. I have to say this is been developed at warp speed. Susan at least multiple years. This is eight or nine months. Susan the world needs it, hominy people will take the vaccine, youve seen the numbers. Stuart thats a different story entirely. Lets move on, code diagnostics, they have a new test coming out the gives you the results of a virus test and a flu test all at the same time and theyve got it right before gets moving, the white is back without the chief executive of code diagnostics, welcome back. I have a series of questions. Have you got emergency fda approval for the new test. This is not yet approved by the way, we are pursuing authorization but it will be made available as clear labs throughout the United States and we will take orders on this test in the first week of october and be able to deliver there shortly after. Stuart you cannot deliver until he have fda approval . Under the new regulations of the fda we will be able to provide our test who will work with the test to make it into an ltd or lab directed test and they will immediately be able to offer to customers. Stuart how long you have to wait to get results. The test is the same test weve done for regular covid19, it takes about 45 minutes to an hour to get the test done in the lab and its made available generally to customers within 1e test into the lab to be done. Stuart i am not trained to bring up the negative here but what we really need is a really fast test, for example before i get on a plane, i needed test, i want the results back within literally minutes so i could get on the plane and choi do not have it. You are waiting 24 48 hours, thats a bit long. We believe that the solution to getting fast results for Airline Travel really focuses more on high throughput, the kind of lives were talking about can be set up in airline terminals are able to process thousands of tests today and its much better to be able to process thousands of tests today in a high throughput setting into user testing takes 15 or 20 minutes but you can only do one at a time and it takes a person to actually operate the test and a troop of three or four or more per our compared to thousands a day that can be done in a high true put setting. I think we have a very good setting for high throughput Rapid Testing. Stuart how about cost. Weve always been a lowcost leader and pricing protest and we are going to hold the line there, we never viewed a pandemic of being to overturn the public and these tests are provided for about 75 125 per test, remember these are Gold Standard test these are antigen or antibody test, these are the best in terms of sensitivity and specific video and give you a result you can really rely on. Stuart im going to cut this short, forgive me but were very interested in testing all the news thereon. Come back and see us soon i want to hear about the emergency fda approval, yay ornate. Thank you. All travel companies will benefit from Rapid Testing i see the cruise lines up a bit, three or 5 but lauren you got your eye on one of them, one cruise line which got recommendation i think. Lauren all three of them did, barclays upgrading credible, real caribbean in norwegian from overweight equal weight and they expect the cdc to make a positive comment about cruising relatively soon, the no sale order ends in five days, do they extend it, do they lift it, what happens because the cruise lines have submitted their proposals to the agency and they all say this, test passengers and crews mandatory rapid test we can operate the cruise in a bubble, we can do this safely, carnival did announce the redesigning the europeans itinerary from april 2021 through november of next year. Stuart i think testing is a very important aspect, remember your report yesterday of United Airlines testing all passengers flying from San Francisco to hawaii with a 15 minute test before they get on the plane. I think thats a breakthrough. Lauren absolutely, i think this would be difficult but you get up in the morning brush her teeth, you prick your finger or something, you see for positive and if youre not, you can go out and enjoy the world again, i dont know if we can ever get there but theres . About the safety, effectiveness, the will of people to get a vaccine, lets up the testing in the meantime. Stuart if you had a rapid, truly rapid Immediate Response test, yay or nay, that makes a world of difference especially to the travel company, they are all up this morning, airlines, cruise companies, except for southwest and edge lower. Im going to move on a new analysis which says joe biden spending plan will kickstart the recovery better than mr. Trumps economic program. Susan has been digging into that and she will break it down in a moment, meanwhile the market we will open this friday morning on the downside for the dow and s p but a small gain for the nasdaq, the opening bell coming up for you next. 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Susan a trillion less than the last proposal but is still a trillion dollar gap with the republicans the truc president p say they wont go up one and half trillion dollars and pelosi and the democrats are proposing 2. 4 trill