Next hour ill speak to the ceo of Johnson Johnson, on the companys earnings and news of the halt in vaccine trials after one participant became sick, helping to drag futures this morning. Take a look at markets, the dow industrials are down 133 points, the nasdaq is holding onto gains, up 97 points right now fo. The s p 500 is down 6 and a quarter points. Yesterday, Big Technology led a big rally and at the close the dow was up 250 points, the nasdaq up 296, almost two and two thirds percent on the nasdaq, the s p 500 yesterday up 57 points at 4 00 on wall street. Amazons prime day kicking off today, how the shopping giant can expect some stiff competition from other retailers this time around. High expectations, apple is unveiling its 5g ready iphone 12 today, everything you need to know before the big event, mornings with maria is live right now. European markets are flat this morning. Take a look, fq100 down 23, cac down 19, dax index in germany lower by 53 points. Retail sales in the u. K. Jumping 5. 6 in the month of september as people did get an a early jump on holiday spending. Unemployment, however, was up 4 andahalf percent from june to august in the u. K. Fractional moves in asia overnight, meanwhile, a Tropical Storm halted trading in hong kong. That market is closed. China reporting a surge in imports and exports in the month of september, keep in mind the numbers come from the Chinese Communist party. The shanghai composite was flat overnight. Some of the top stories this morning, we have breaking news overnight, Johnson Johnson halting its phase three covid19 vaccine study after one volunteer came down with an unexplained illness. The company says some Adverse Reactions are expected in clinical studies. The person is being evaluated. Phase three started in september. That was with 60,000 participants. Taking a look at Johnson Johnson this morning in the premarket, it is down 1 andahalf percent. We will hear from Johnson Johnsons cfo this morning, the executive Vice President joe walsh joining me live in the next hour this morning. A 25yearold nevada man contracted the coronavirus twice this year, becoming the first confirmed case of reinfection in the United States. He reportedly first tested positive for the virus back in april. Then recovered and tested negative. But in early june he tested positive again. He ended up in the hospital that time. This is the first known case of rein fifth known case of reinfection of covid19 worldwide. A clash between republicans and democrats on day one of Amy Coney Barretts confirmation hearing. Democrats show a united strategy, choosing to focus on the healthcare law and upcoming challenges the Supreme Court will hear on it. Republicans coming to judge barretts defense, condemning democrats attempts to stall the confirmation. The hearing will continue as questioning from the senators begins later today. We will take it live on fox news. Southwest airlines making a push to grab a bigger share of the market amid the pandemic, the airline announcing plan to expand operations into Chicago Ohare Airport along with houstons airport, a direct challenge to its bigger competitors who have struggled in recent months. Markets this morning are mixed, mostly lower. Investors are waiting key earnings this morning including Johnson Johnson and jp morgan chase, Delta Airlines and citigroup all coming out this morning. We will have those numbers for you. The big banks expected to show how the American Economy is doing as the country financially recovers from the covid19 pan 9 pandemic. Joining me now you to walk through it is chief Investment Officer nancy tangler. Also joining the conversation all morning is Dagen Mcdowell and Jon Hilsenrath. Great to he see everybody. Nancy, lets kick it off with you. What are you expecting for the Earnings Period for the Third Quarter, how will that shape Market Performance . Two things, maria. Thank you for having me. First of all, earnings are positively correlated with pmis and the purchasing manager index globally is growing and strengthening in 14 out of 18 regions. We think thats bullish for corporate profits. Secondarily, companies are raising their dividends, pretty robustly and imagine that, that six months later after eliminations were talking about increases. But starbucks raised their dividend 14 , home depot almost 15, texas instruments, 17 and just a broad range of industries. So we think that bodes well for earnings because management set dividend policy based on what they think sustainable earnings power is. Im pretty optimistic. I think were going to start trading as a market more on fundamental as we move into the First Quarter of next year and less on liquidity which i think is driving this market pretty robustly. Maria so i guess you think the fundamentals are going to slowly but surely improve. Weve got Delta Airlines reporting their Third Quarter numbers in about an hour, the results expected to give insight into the Airline Industry which has been crushed by the coronavirus pandemic. Nancy, what are you expecting there . And do you think we are actually going to see a turn in terms of guidance from these companies . What are they going to say about the Fourth Quarter . What about 2021 . Well, the airlines are tricky. Its been a great trade off the bottom and of the group, delta is by far one of the highest quality, strong balance sheet. We have steered clear of the airlines, simply because they have kind of an il elusive relationship with their dividend. When we lose that information from management its very difficult for us to make longterm decisions in the stock like that. But i do think the airlines will be providing some positive guidance. Ive been traveling and the planes are full, the airports are busier and so i think that bodes well. But were still well below capacity. Were more interested in hearing what the banks have of to say because that gives us a broad view of the overall economy. Maria sure. And the banks will certainly give us the guidance as well. The banks are going to give us a sense of how consumer spending, the health of the consumer balance sheet. Well get jp morgan this morning and certainly that will maybe move the markets. Jon hilsenrath, jump in here. I wanted to ask nancy if she could help resolve a puzzle that ive been trying to understand. If you look at the election, i mean, it seems like the market would be down on joe biden because he wants to raise the Corporate Tax rate and that hurts aftertax earnings. But the markets been going up since late september, as bidens poll numbers are improving. Im wondering, nancy, if you can reconcile that why is the market rising when it looks like bidens chances of Winning Office are Getting Better . Yeah, jon, very question. I wrote a column in usa today about this and i got pushback from people. People tend to invest their politics and heres what i would say about this. The market is certainly being driven by liquidity so we have to sort of keep that in the back of our mind but ive been hearing pundits saying the markets rallying because theyre comfortable with the policies of a blue sweep and i just dont believe thats true. Dan cliffton has done great work on looking at predicters. One of the predicters is the s p 500. Since 1984 its been 100 perfect in predicting the next president and a rallying market which weve had from july 31st until the end of october, were almost there, is indicative of an incumbent president winning. And so i dont no know if thats going to work this year. But im not sure the polls and the market are seeing the same thing. And i think at the very least the market is telling us that its confident in divided government and so, therefore, some of the biden policies that would be perceivedded as negative would be muted. So nancy, are you saying that maria i totally agree, nancy. Thats exactly what ive been saying. This market would not be where it is if the market did not believe trump gets a second term. Theres no way i could believe that this market would be near record highs if youre going to see 4. 3 trillion in tax increases and a Capital Gains tax going to close to 40 . Agree. And so well see, right, because its very difficult. Anyone that tells you they know it always makes me suspicious because theres a lot of factors. A lot of mitigating factors. Liquidity is one of them and this year has been a year of firsts. But i dont think the market is predicting a blue sweep. I just dont. Maria yeah. And the market is telling us something very different than the polls are telling us, but i agree. I think that knowing that people are going to be selling to try to get a 21 cap gains tax versus 39. 6, that in and of itself tells you, i mean, youre going to want to dump your stocks to take advantage of the lower tax this year as opposed to a new tax rate on Capital Gains next year. Just that in and of itself is telling what you the market is expecting. Right. No, i agree. And i think you and i have been watching these markets for a long time and the market in collective in a collective sense is wise. Much wiser than individuals. And it doesnt take things personally, like people do. So i think the market is just passionately looking forward. The fundamentals are improving, so we have that also as a tailwind. Maria nancy, its good to see you this morning. Come back soon. Thank you so much. Well watch what happens in the next three weeks for sure. Your morning mover this morning, disney is shifting in the premarket after shifting priorities to streaming media sources. Remember, the activist investor dan lobe was pushing for the changes. He is giving out a statement saying hes pleased with what disney is doing and the stock is up 4 and three quarters percent this morning. Were just Getting Started this morning. Coming up, a heated hearing on the hill, democrats taking aim at judge Amy Coney Barrett. The top moments from day one as we look ahead to todays hearing where well hear the questions come at her. Later this hour, strategic analyst, retired general jack keane is here weighing in on north koreas new nuclear missile. Next hour ill speak with Johnson Johnsons cfo and executive Vice President joe wolk on the overnight halt of phase three vaccine trials as we you await Quarterly Earnings from j j. And Kayleigh Mcenany will join us to talk about her coronavirus recovery and her take on President Trumps strategy. We are exactly three weeks away from the big vote. Dont miss a moment of it. Youre watching mornings with maria live on fox business. Blame it on the night. Dont blame it on me. Dont blame it on me. I knew about the tremors. But when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. Proven to significantly reduce hallucinations and delusions related to parkinsons. Dont take nuplazid if you are allergic to its ingredients. Nuplazid can increase the risk of death in elderly people with dementiarelated psychosis and is not for treating symptoms unrelated to parkinsons disease. Nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. Tell your doctor about any changes in medicines youre taking. The most common side effects are swelling of the arms and legs and confusion. We spoke up and it made all the difference. Ask your parkinsons specialist about nuplazid. Ask yourand sweetie canecialist coloryou just be. Gentle with the pens. Okey. Okey. I know. Gentle. Gentle new projects means new project managers. You need to hire. I need indeed. Indeed you do. The moment you sponsor a job on indeed you get a short list of quality candidates from our resume database so you can start hiring right away. Claim your seventy five dollar credit, when you post your first job at indeed. Com home. Theres nothing unconstitutional about this process. This is a vacancy that has occurred through a tragic loss of a great woman and were going to fill that vacancy with another great woman. I think this hearing is a sham. I think it shows real messed up priorities from the Republican Party. The framers of the constitution deliberately set up a system of checks and balances. So that nobody can become a Supreme Court nominee without both the president and the senate. The decision to hold this hearing now is reckless and places facilities workers, janitorial staff and congressional aides and Capitol Police at risk. Maria that was senators graham, klobuchar, cruz and harris at yesterdays Senate Confirmation hearing where judge Amy Coney Barrett made her case for serving on our nations highest court. The stakes could not be higher, the first day of hearings coming three weeks before election day. Dagen mcdowell, your reaction to what you saw take place yesterday. Dagen i watched it, most of it, all day long. It seems that democrats have learned from the kavanaugh hearings that they did seem to avoid shooting themselves in the feet, at least on the first day, because they talked about everything but Amy Coney Barrett. They talked about why havent we we need to be focused on covid relief, when in fact Democratic Senators refuse to move a half a trillion dollar Coronavirus Relief package that was in the senate, so they shot that down. But they were bemoaning the fact that they werent working on a stimulus package when in fact theres 400 billion that is not unspent from earlier in the year, that all congress has to do israel locate that money. Is reallocate that morning. They focused on the Amy Coney Barrett and the case that will appear, that the court will hear right after election day. When in fact they act like youre going to lose your healthcare if this woman, Amy Coney Barrett, winds up on the Supreme Court. Thats not true either. Because the case in and of itself is weak, based on many legal scholars. So they were focused on things other than her. She looked like she was being held hostage. I think thats on the front page of the New York Post today. And instead, as a nation, because we have turned into as what i described yesterday on the five as billious contempt of anything that happens on the other side of the political aisle, we couldnt sit back for a moment and honor this woman and the life she has built for herself, her family, her community and her search. A notre dame professor said she lives an integrated life of mind, heart and soul. This is a life that should be championed even for a breath and it didnt happen yesterday. It could turn into an unhinged sesexist religious prosecution y the democrats. Maybe they havent learned their lesson from kavanaugh. Maria as Marsha Blackburn said yesterday, dagen, they cant attack her on substantive things so theyll attack her on faith and family because her qualifications are that good. What did you think of the oped in the journal this morning, lead oped, Amy Coney Barrett should refuse to recuse. Theyre now talking about her, that she should recuse herself from any contested situation of an a election, now three days away, and the journal writes this new recusal theory fits the democratic view of the Supreme Court as a resultsdriven Super Legislature but it is wrong as a judicial principle, dagen. Dagen no one should recuse themselves on the high court for anything and it does seem theyre picking on her at this point. But the foregone conclusion is that she will be put on the high court. And that goes into the democrats treating the high court, the judiciary, as a second legislature. Thats why the issue of Court Packing and yes, it does mean adding additional justices to the high court becomes such an important issue. Joe biden has been against that, called it boneheaded in the 80s and said the democrats would rieu th rue the day they e court because the democrats will subvert the constitution by trying to do that. I digress. I can tell you you that today is going to be very exciting. Maria 21 days before election day, jon. Go ahead. Jon i was going to say on the Court Packingish you shy, you could look at issue, you could look at it two ways, why the Vice President isnt giving an answer on that. I agree, that he shou