President , he has announced hes free of the virus in immune and up dressed in airport crowd in florida today. This is important, the virus and how to deal with are central issues of the election. The president is taking the lead in opening the economy and returning to work in promoting the successful treatment, that is important stuff. Meanwhile joe biden always wearing a mask except for when hes coughing is bogged down with questions about packing the court in fracking, he will hold to events in ohio, lets see if he answers as important questions. Lefthand side of the screen, Supreme Court hearing for Amy Coney Barrett started an Opening Statement the judge said she learned from her mentor, Justice Antonio scully out. A judge must apply the law as written, not as a judge wishes it were. Vice president ial candidate Kamala Harris will participate virtually for safety reasons. Lets get to the market, the dow industrial is up for 50 on point, the s p up 20 thereabout look at the nasdaq, up over 208 points. That is a huge gain, why is overall market up, corporate profit looking good, the fed will keep printing if trump wins he cuts taxes with the stocks, fighting wins he will spend big good for stocks, still going backwards and forwards on a multi trillion dollar stimulus package, wait until you see what big tech stocks are doing to the moon, Varney Company is about to begin. Stuart it is raining in midtown manhattan and its still deserted, we have a busy news day indeed, lets get started with President Trump telling maria that he is immune from the virus. Rotate. It looks like i am immune for maybe a long time or maybe a short time, could be a lifetime, nobody really knows but im immune. But i have to tell you i feel fantastically, i really feel good, even feelgood by the fact that the word immunity means something, having a protective glow means something, its very important to have that is a very important thing. Stuart i heard him, hes telling maria he no longer has the virus, he is immune he is indeed back on the campaign trail, four events this week, he starts today in sanford florida, he ended North Carolina on thursday, who knows where he goes after that. Lets bring in doctor matt mccarthy, Infectious Disease expert. The president says he has recovered, he is out and about and he says he is immune, he wants to lead us out of all of this. I think hes doing the right thing as a leader, what say you as a doctor . That was a fascinating interview whether he was talking about whether hes contagious, immune, theres a number of things going on, the big picture hilo longer poses a transmission risk to others, that is correct, patients with mild and moderate coded, they are considered infectious up to ten days up to the onset of symptoms, he is now beyond that. The question of whether or not hes immune, we have seen reported cases every infections but there has not been any evidence that a patient can get reinfected within the first three months of having their first case. I agree with his assessment, he is not a transmission risk to others and he is immune, the question is how long would he be immune, i was sure comfortable for the next three months he is not at risk for getting reinfected but beyond that we simply do not know. Stuart could you say categorically that his treatment worked. The treatment look like it worked, this is a man who we could go was getting airlifted to a hospital because of his oxygen levels were plummeting. Now hes ready to get back out and spread his message, clearly the treatments work, the key here, treatments dont work if youre diagnosed late in the course of infection and what he had going for him, he was detected very quickly and thats why the remdesivir, the antibody cocktail the dexamethasone all these things can get a minister to him more quickly than they do often for other patients. I was delighted to see how effectively our therapies can work when their minister quickly and thats exactly what happened. Stuart it worked, as always take you for joining us. We always appreciate it. The administration astrazeneca has struck a deal, big deal to the antibody treatment. Come on in lauren, how much value and how many doses. Lauren 486 million between european Drugmaker Astrazeneca and the u. S. Government, this is for 100,000 doses but they have secured the right to purchase 1 million more by the end of the year, the next two months as they move into a phase three of the antibody cocktail, this is not the one President Trump took but very similar. Stuart it sounds like a winner to me. By the way i want to check regeneron, their ceo says the president antibody treatment is a case report, do you know what that means. Lauren the singular current, regeneron antibody cocktail is the one President Trump took in the hospital and it worked for him, he called it cure but the ceo is saying, he said this on face the nation over the weekend, its just one example, we have to wait for the larger Clinical Trial to really test how effective this antibody cocktail treatment would be for everyone. By the way they 50000 doses of this on hand, they have 300,000 were coming and they bring up these numbers, they put together astrazeneca and regeneron they have one and half million doses on order for u. S. Citizens who needed, that is not enough, if these drugs are as promising as the president has shown them to be, we will need a lot more, the issue is manufacturing at scale and getting that manufacturing done domestically. Stuart understood that the treatments work, according to doctor mccarthy and i think that is good news across the board. Good start, they give a much indeed, lets talk strictly about money, lets talk profits, very much in the news, we will look at the big picture for the moment, the analyst they profits are going up, can you tell me more. Susan optimistic tone for a new. First time in a decade wall street has had higher predictions for company profits. You dont see that often, raising them for the First Time Since 2010 basically j. P. Morgan kicks it off tomorrow and bank of america, wells fargo and wednesday and the banks are pretty good proxy to Economic Growth and economic Recovery Time you get a broad picture right out of the gate burning season as to how the u. S. Is doing, the process should be higher this is after dismal march june. Where banks had to set aside a record amount of cash to cover loans that they say and expect will be repaid because of the coronavirus, overall earnings for the brighter s p 500 should drop by 20 a year ago, bounce back but still that is better than the Second Quarter, we had earnings dropping 25 at the height of covid, analysts have very few companies guiding these numbers as well and they are shooting in the dark, only 69 with S P Companies has actually given in outlook which is far below only 70 of the average and we seen over the last two years, itll be interesting. Stuart it will be interesting especially some of these companies exceed the expectation, im not quite a play that game but if they do exceed. Susan you are learning. Stuart thank you susan, what is a stock market keep going up, we are close to alltime highs, a list a couple of reasons off the top of my head, number one the fed will. Trillions of dollars, no matter what. The congress may come through with over a trillion dollars worth of stimulus, thats in doubt but they may do it, if trump wins the election, he will cut taxes, good for stocks, fighting wins he will spend big, good for stocks, five, profit as you heard from susan the baseline for stock prices are forecast to improve, lets not fly by this, i see two big negatives, one a democrat blowout, democrat run white house and in the house that would be a neosocialist american stock selloff and number two a protracted contested election would bring uncertainty, back in 2000 the five week delay in getting the result pulled s p down 11 , lots of positives, to negatives, i think we need a judge, not a judicial judge but dennis government to pass judgment on my analysis there. Dennis, you are still bullish, make your case please. Useful everything is going to say, the most important thing, its more important who the resident of the fed is rather than the resident of the white house, the resident of the fed will remain mr. Powell and he will remain monetarily expansionary as he has been, i see no reason to think thats going to change, im not as concerned about the shift politically, it does appear that mr. Biden is going to win the presidency unless something will occur in his campaign and i hope otherwise but that seems to be the reality but it does look like the republicans will be able to hold the senate and the race that is important is whats happening in North Carolina with the democratic candidate leading is probably down behind following a marital problem that he has had, that takes away one of the concerns that you explain that there would be a tidal wave of democrats, i dont think they will win the senate and as long as republicans hold the senate, that will give us gridlock and im always a great fan of gridlock because nothing dramatically gets done, have over there will be a passage of Infrastructure Spending and a great deal in larger spending coming in the next year no matter who is the president. Right now it is still a bull market, i sent you a note on the 28th of september when i went from bearish to bullish, every week since then ive remained bullish and i see the market going from the lower left to the upper right until it stops. Stuart deal with this really fast, billionaire Jeffrey Gundlach says stocks will crack pretty hard, that is what he said and in view of that, he thinks he would have 25 of his money in gold or cash. 25 , that is way up there, are you on board with that. I am on board with gold, i think 25 maybe a bit too dramatic and the chairman of the university is trying to get us to buy 5 10 of gold and we will end up doing that, i own 15 or 20 my portfolio in gold, 25 is a little too dicey but am i on track with them, more than 5 , something north of 10 per probably something more of 25. Stuart thank you for joining us, we always appreciate it. Amy Coney Barretts confirmation hearing has kicked up, senator, lakers will attend but remotely. Heres the issues were expecting to see thrown at the judge. Roe v. Wade, obamacare, gun rights, Sexual Assault on campus and immigration, by the way, starting tomorrow the questions starts tomorrow, but any headline from the hearing today we will bring them to you really fast, that is a promise. Heres whats coming up, joe biden staying silent on whether or not hell pack the Supreme Court but joe biden in his younger years was much more outspoken about it, you better watch this. President roosevelt clearly had the right to send to the United States senate and the congress a proposal to pack the court but it was a bonehead idea. It took an act of courage in his own party institutionally to stand up against this power gr grab. Stuart now we are 22 days from the election and even some democrats say he should answer the question about packing the court, so far he has not. President trump back on the campaign trail, every day this week, yes he is coming straight to florida today come out and about again, before we take a look at futures, we will tell you were going to look at futures, we are out and about and the president is, were Getting Started up 200 points for the nasdaq and we will be back. 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. Stuart the election is three weeks from tomorrow and Goldman Sachs is betting on a blue wave, betting on a blue wave and against the dollar, im not sure i understand. Susan Goldman Sachs is predicting a 16 chance of a democratic sweep next month in november also vaccine hopes from pfizer, moderna, both set to announce preliminary data from their advanced test in the next two weeks and that means less to bother u. S. Dollar as a safety trade with a less contentious election in their view and the vaccine hopes, golden analysts say that they see low odds for the most dollar positive outcome by the end of this year and they mean this is an electoral victory from President Trump confined to the vaccine projects. What theyre saying short the dollar getting back to 2018 those which is roughly 7 down from the current level and have j. P. Morgan also saying there is a democratic sweep in november and taxes to go up especially Capital Gains but youll see a stock market dragon 5 initially which will be similar to 1986 in 2012 when taxes went up but strongly rebounding like in 198k holders it will be okay. Stuart if you do democrats sweep, White House Senate and the house of representatives, stocks go down. Susan initially they did like in 1986, 2012 historically they rebounded 1987 in 2013. Stuart thats the news from Goldman Sachs, economist Stephen Moore is with us. Stephen im not going to ask you about a clean sweep in a catastrophic result, i want to talk to about corporate profit, i have a headline in the wall street journal that feels like investors are betting that corporate earnings, profits have turned a corner, having. Happy columbus day, i hope your lot to say that on the show. As an economy that is incredibly hot right now, i was so irritated when susan page asked that question to mike pence, the economy showed signs of slowing down, what planet was she living on this is a redhot economy, there are 10 million more jobs today than Goldman Sachs, the Federal Reserve bank, the Congressional Budget Office thought there would be six month ago, this is an economy that is doing very well, i dont believe for a minute these polls that show donald trump number ten points, for one thing if donald trump were down by ten points and there was a high likelihood which there is not that biden was going to win, why would the stock market be on this pace, i think the investors know this is a race that trump is very much in, i truly think it is a tossup and by the way i live through 2016, as a senior economic advisor, you remember people said at this point Hillary Clinton has a 90 chance of winning. Stuart i agree 100 , it is best that its really thought that biden would win and the democrats would win the senate, this market would not be a 28 29000 on the dow and up 200 on the nasdaq, its as simple as that in my humble opinion. Stephen moore thank you for joining us, i promise to see you again soon, the busy days like to move on fast. Look at china free market, ali baba of four or 5, back up about 300. Jamie dimon on the lefthand side of your screen, he does not expect to return to normal anytime soon. Hold on a second, when does he think we will get back to normal. Susan what is normal. That has to be defined because if you think about it remote work is here to stay but the middle of next year is what jamie dimon is saying 2021 summertime, june thats what he said in a recent podcast and also at the Asset Management conference on friday, as many as 40 of staffers could work from home even after the pin demo, even 60 is a new full capacity, last month j. P. Morgan called training stuff back to the headquarters and then a kobe case set workers back home, j. P. Morgan amy for 15 25 capaci capacity, jamie dimon is that the local regulation and the lack of a vaccine impersonal circumstance will likely make. In impossible into the middle of next year at the earliest. Stuart thats what i thought was normal return to. Either way it was a year ago, he is not talking about that. Susan i think the world is changed we need to accept that. Stuart but that would not be returned to normal, the new normal, huge difference, thank you susan stain on this. Microsoft has unveiled and revealed a permanent work from home policy, tell me more. Susan the new normal comes with a pay cut, if you work for microsoft and you work in seattle for instance and you get approval from your manager to work from home forever, meaning your never coming back to the office, no hybrid arrangement, no flexible hours, you are out of their you work from home forever, you might have to take a pay cut if you move to a cheaper city, there are many cities that are cheaper than seattle which is expensive, in the meantime every employee into hybrid arrangement meaning half the time in the office and have a timeout home, and flexible hours you dont need approval for that, thats what people are doing these days part of the new normal but microsoft said one thing that resonated with me, there is value in being together in the workplace, so they are not bailing on office space altogether and i think landlords out there are breathing a sigh of relief that there will be some presence in the workplace. Stuart i think there is some presence, to take a picture, youre still an employee bringing the same talent and giving the same amount to your employer and yet because you moved you gotta take a pay cut, does not seem quite fair but that is me. Lauren i agree. Stuart i will now outlive the future, of 60 on the dow, 20 on s p, the nasdaq, wait till you see what big tech is doing, the nasdaq is up 200. Your journey requires