He is expected as a virus numbers continue to spike around the nation to give an update on operation warp speed and talk about new developments in the race for covid19 vaccine. At the close you look at the numbers, the vaccine helps as well with upbeat corporate profit a rally not far away from a record high, it was flirting with the record, needed to be 470 but lost a little steam in the final minutes of trading, a strong day, the s p that is a recordsetting, closing up by 48point, as it settled in what appears to be the 23rd record close of the year for the s p 500 and we want to monitor the smallcap stocks today and the russell 2000, the russell closing in record territory what is significant for the smaller stocks, the first time in more than two years we have seen a wrestled record, the s p up in the second straight week, adding more than a thousand points. We canoes and big tech brought the nasdaq into the red, those are your numbers as we come to you on a friday, im connell mcshane, great to be with you welcomed after the bell, it is time for the news happening at this hour. Fox Business Team coverage gerri willis and Hillary Vaughn are standing by and we will get to both of you. We begin with Casey Stegall in dallas reported on the nationwide spike in coronavirus cases. As more and more of the country really grapples with trying to get this virus under control and off a lot of people are looking to the vaccine or vaccines for hope and were going to hear about that in a few minutes as she talked with the president expected, and address folks on operation warp speed. Hundreds of millions of dollars have been poured into the program for a Covid Vaccine research, pfizer said this week that its vaccine is 90 effective in blocking the virus but it was not funded on the upfront by the federal program, others coming online like moderna did, and those in places that have been hammered by the disease like in el paso, those vaccines, treatments and therapeutics cannot become available soon enough. People need to understand cases, hospitalizations, unfortunately deaths in the mortality rate is better, the more people come in the more this goes unabated and there will be a lot of dark days going into the fall. There is a new antibody treatment talked about this week that some are hoping will bridge the gap until the vaccines are ready and that antibody treatment is scheduled to be distributed to medical providers across the country next week. Connell that is the antibody treatment, we talked about the Pfizer Vaccine but that the eli lilly treatment. The eli lilly treatment and its been used under the emergency use authorization and clinical studies have shown it reduces the amount of the viral load inside the patients body after ten days of taking it. The hope it would keep the virus from progressing and getting bad enough to where somebody would need to be hospitalized. Connell can you talk for a moment as we wait for the president of the importance of operation warp speed there has been back and forth of the how the government will be involved in all of this especially when the Pfizer Vaccine numbers came out, we did not have anything to do with operation warp speed but in terms of getting the vaccine out and getting the treatment out, that is where the government will be quite heavily involved. That is right, we should say they do have contracts with the federal government. Through operation warp speed through the distribution of the vaccine. They just did not take money on the front and like it was divvied up to the companies that began working on this like Johnson Johnson and moderna and the others. Pfizer did not but this raises the question of how to distribute the doses of the vaccine and how to do it fairly and evenly. Were talking about a Global Pandemic and clearly having huge impacts in the United States with most cases the most totalitys. Pfizer is a german company, do they hand over all of their doses to the United States, do they vaccinate some of their own people first and then give what is remaining to the United States or divvied up among other nations, that is the big question at this point, how will they be distributed once they complete the Clinical Trials and those come online. Its really going to be a massive undertaking which is why the u. S. Military has been enlisted to help distribute it but itll be a massive undertaking trying to get this out to people. Connell thank you. Great reporting. Casey stegall live in dallas, looking at the white house rose garden, kevin corke standing by as we await for president , the first time we will hear from him in quite a while. Quite a while indeed were very eager to see what he has to say not just about operation warp speed but about the 2020 election and where we are in the very hour, we talked about lawsuits, some dismissed and others we seen teams withdraw and other local folks that have had a chance to get involved so we will keep an eye on that and see the president has something to say about that but with respect operation warp speed, we want to know where we are, all americans have been asking the question might we have a antiCovid Vaccine by years and you are the president speaking great links about that throughout the fall and last week with pfizers test results, more than 90 effectiveness, there have been a lot of people who felt very bullish about the idea that very soon operation warp speed could produce all important and takeover in 19 vaccine. We dont know thats what the president was jesus but we suspect they will have an update on the ongoing fight against covid19 as we seen a spike around the country not just in cases but in the masses of amount of testing ongoing in the country. We will be here for you but now back to you. Connell it looks from the set up, im looking at the split screen, that you guys in the media are set up relatively close to the president leading us to believe that he may take questions and to the point you started with many of those questions if you look at his twitter feed related to the legal challenges in the electi election. Absolutely, we seen the president comment at length about the ongoing challenges with respect to legal battles around the country, hes actually lost a couple in the last couple of days maybe he will talk about that and update us on the fight but i think a lot of people want to know, not just how the battle is going but if it doesnt go his way how might he decide to gracefully bow out and allow the president elect and presumptive president elect joe biden to move on and move forward, if you talk to Administration Officials as much as i have you get the sense there is no quit in this fight that feels very strongly that the legal challenges that they have will produce an outcome that will ultimately prove, they say that the president did when the 2020 election. I am sure that i stand with my colleagues on the press, we are eager to ask him about that and other subjects including what is happening and iran into many things happening around the world, any chance we get to speak with the president we take full advantage. Connell sometimes you get to speak to them twice a day and in this case i dont think hes taking questions in about ten days which is about out of character. We will be back as soon as those remarks begin. In the meantime while we wait we will look at the shot so you will see the president walk out of the oval office into the leftward of the rose garden as soon as hes ready, lets bring Hillary Vaughn in, she is reporting throughout the week on the president elect joe biden and his plans for handling the virus, what is the latest there . We have a new statement from president elect joe biden we are learning that he met with the cochairs of his covid19 Advisory Board and he said that the numbers that they gave him today are very alarming and encouraging people no matter who you voted for to socially distance, wear a mask and wash your hands. He said hes the president elect, he is not the president and he needs a Current Administration or recommending the Current Administration have a strong federal response to what he is calling a surge in an uptick in covid19 cases and one of the cochairs of the Advisory Board that he met with today was on tv this morning saying the numbers tell him that theres not a need for a nationwide shutdown but there may be a need for targeted quarantine in some places around the country. Were not in a place where were saying shut the whole country down, weve gotta be more targeted. If we dont do that what you will find people will become more fatigued, schools will be open to children in the economy will be hit harder so we have to follow science but we have to be more precise than we were in the spring. President elect biden is here at his beach house for the weekend but even though he has a cabinet to fill his Transition Team set on a briefing with reporters he is taking the weekend off. As we look ahead to this weekend i think he has earned certainly a couple of days off and he will be spending some time with family this weekend and he can rest easy that there will be public events. Last nights incoming chief of staff claimed the first tv interview, he said bidens first order of business will be a nationwide mask mandate but saying that as a federal mandate for places that the federal government has jurisdiction like government buildings but will rely on state and local government to implement their own mask mandate in their states on the Briefing Call with the Transition Team, they said they are not going to give a ballpark figure for what number president elect biden wants to see for a possible stimulus bill for covid relief in congress but he says those negotiations should not wait for him to move into the oval office, the American People need help now. Connell stayed with me for one minute i want to give everybody an update on the president s remarks, it is 4 11 p. M. , the president tweeted he will be having a rose garden News Conference in 15 minutes, sometimes we get the twominute warning, this was a 15 minute warning, that would put that at 4 22 p. M. , maybe were ten minutes out. You mentioned ron klain, that will be the chief of staff, in addition to what you talked about a fair amount of scrutiny from earlier comments that klain had made. On january 28 ron klain tweeted, didnt interview on june the 28th on tv where he was asked if he would recommend a travel ban against china and at the time he said he would not recommend or back a travel ban saying its important to keep the relationship open with china and keep travel going back and forth, he has come under scrutiny for that because that is a position that the president took early on in the Biden Campaign has claimed that they backed at the same time. Connell thank you, Hillary Vaughn with team biden at the beach house in delaware. It looks like we have a few minutes according to the president s twitter account at least so lets get our breakin now and what we come back we will bring you up to the remarks live from the rose garden with President Trump. Well be right back. 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Connell a fox business alert with President Trump set to deliver mark remarks any momentm now, tom price joins us ahead of that the former health and human secretary under President Trump, we might only have a few minutes well see when the president walks out, this is the first time as kevin quirk was saying in a while and weve seen a number of tweets from the president in recent days about all kinds of topics but he has not spoken about the coronavirus in the virus numbers continue to spike around the country, today we are told he will address operation warp speed, what would you like to hear from the president this afternoon . I think what the megan people want to hear is the success of operation warp speed is about to come to for ration although the resources that are been put to work, we are seeing as pfizer announced earlier this week that a vaccine will come forward that likely has significant ability to decrease the incidence of transmission of over 90 which is phenomenal, we are hearing from other vaccine and pharmaceutical companies as well and those vaccines will come on line within the next month or two in the same fashion, this is a very exciting time and upbeat time and optimistic time for the future, that is not to say we are having our significant challenges because we certainly are right now. Connell we are. And almost the entire nation as we talked about a few minutes ago we are seeing cases go up and hospitalizations go up in many areas as well, what role do you think the government can play, thats a operation warp speed is all about and make future vaccines assuming they will be in some point get to where they need to get as soon as possible. There are a number of challenges, i was reading with the Pfizer Vaccine its gotta be cold that they have enough freezers in certain areas, there are lots of things that have to be done, are you confident they will get done . I am because of the attention and the focus in the resources that have been brought to bear, it is important to people to appreciate that these vaccines will come online for the American People and the world in a timeline that is unheard of at this period of time it is been t to this phase, normally that takes years, three, four, five years or longer. This is an exciting time, i think the president will likely talk about that and the success that we are having an about to be able to turn the quarter on getting this under control that is not just about vaccinations of treatment and detection and mitigation. The things that we need to do, wash hands, where mask, socially distant those do not change as soon as the vaccine comes online. Connell that time between now and then, we have to do all those things and theres a debate about how much the government whether its local government, federal government should be restricting and restricting the economy as an obvious result, where do you stand on that, a suggestion from the biden advisor that we need to lock down for a number of weeks completely, that seems to be taken back a little bit but where do you stand on what we should be doing between now and then . I was heartened by what the former Surgeon General said earlier this morning, that is that he didnt believe in nation wide lockdown, their consequence to every decision and if we go back to the nationwide lockdown, we will continue to have increasing suicides and increasing depression, increased abuse of drugs, increasing alcohol abuse, decreasing ability to treat other diseases and they will go out for care for the Heart Disease and Kidney Disease and cancer and all of those are consequences of the decision that the government can make towards a lockdown, they need a targeted specific attention to those areas and they do that and we do the mitigation, washing their hands, social distancing, making sure they are careful, then we can indeed decrease the likelihood of the increasing transmission of this disease and spite of us going into winter. We are told by the white house we are under two minutes until the president comes out to address the live secretary price. It is interesting because certain areas, we talked about that yesterday and a little bit today and we havent necessarily seen a big spike in new york after having the huge numbers and terrible terrible situation that we dealt with earlier but we learned from the mayor of new york, the schoolchildren in new york city might be asked to head home starting as early as monday and not have in person classes, what do you make of those reactions in places like this in new york city who have a history but dont necessarily yet even though the numbers have gone up and have the spikes in other parts of the country. Its important to let the data in science guide those decisions and i think its illadvised to not have kids in school, obviously every educator believes that its most important to have kids in the classroom for the best learning, the American Society of pediatric said early that they believe that in classroom teaching is the best for kids and remember the risk to children who dont ha