Country. Already getting crowded out there, including to chicago and los angeles. Always crowded in los angeles. Speaking of l. A. , the mayor Eric Garcetti is urging people not to travel or he will fine you. Also ahead, we have one Restaurant Owner who is openly defying his states mask mandate. No masks for customers, no masks for employees. Hes here in the 10 00 a. M. Hour to explain. But lets take a look at the futures, why dont we. One day after the dow surged past that 30,000 mark, just down a little bit in the premarket, as you can see on the dow and s p. The nasdaq up about. 25 . We will see where it goes today. Yes, weve got a big show lined up. Varney Company Begins right now. Ashley little bit of funk courtesy of sly and the family on this eve of thanksgiving, get you in the mood. We are also going to bring you this. Cdc director Robert Redfield on vaccine distribution. Roll it. The vaccine is going to begin to be rolled out probably by the end of the second week of december. I do think well have about 40 million doses of vaccine before the end of the first of the year. Thats enough to vaccinate 20 Million People. But then it will continue through january and february and hopefully by march, we will start to see vaccine available for the general public. Ashley all sounds very optimistic. Millions of doses, just weeks away from distribution. Lauren, who gets them first . Lauren well, you just heard, 6. 4 million next month, likely health care workers, ashley, and those most at risk. But its going to be the states decision, using federal guidelines. What the government is doing is doling out to the states based on the states population, not priority, population. They want allocation to be simple, ready to go once pfizer does get that emergency approval from the fda and of course, as you know, moderna plans to submit for approval very soon, ashley. Ashley all right. Thank you, lauren. Good morning to you on this thanksgiving eve. Lets bring in dr. Matt mccarthy. Doctor, thanks for joining us. Does this timeline seem realistic to you . Is this possible . Yes, this is exactly where we are headed. On december 10th, a group of experts are going to meet and look at the data, the data that we havent yet seen, and are going to decide whether or not to recommend one of these vaccines, pfizers vaccine, to the public under an emergency authorization, which means it will still be experimental. Then we have to figure out who gets it first, and theres kind of an existential struggle here. Do we give it first to the people who are most likely to die, or the people who are most likely to spread the virus . The cdc is starting to tip their hand a little bit here and say by giving it to essential workers, they are prioritizing people who are most likely to spread the virus. That will be a really important thing to watch december 10th or so so that we figure out who actually is going to get this. I suspect i will be in the first group as a Front Line Health Care worker, but i havent seen the data yet so i dont know if i actually want this thing or not. As soon as i make up my decision, i will certainly let you know. Ashley thats interesting. Look, there are so many different vaccines being talked about. This one in particular, do you need two shots or is it just one shot and youre good to go . Pfizers requires two shots. The thing we need to start telling people is that you may not feel great after you get the first shot. One of the things we worry about is that people may get their first dose and say ugh, i felt lousy after that, i felt worse than if i had actually gotten the virus, i dont know that i want to come back for the second shot. Thats going to be a big problem, because this 95 efficacy that the company is reporting is based on essentially best Case Scenario which is a Research Study where everyone is coming back. We dont know if people in the general population will be willing to get that second shot, and documentation is going to be a huge issue here, and recordkeeping. You cant get one shot of pfizer and then another shot of moderna. This has to be done in a very specific way to work. Ashley yeah. Theres a lot of questions that have yet to be answered, to your point. By the way, the cdc is looking to, we understand, shorten the quarantine times. Do you think thats prudent . You know, i do. The big issue here is that 14 days, a lot of people just arent complying with it. If you look at the data, most people, 97. 5 of people will develop symptoms by day 11 and a half after exposure. They picked 14 days just to err on the side of caution. Now this is looking like its a bit too cautious. So what i expect to see is a new recommendation, if you are exposed to coronavirus, you should quarantine for 7 to 10 days, then with a negative test, you can get back to normal life. This is thought to capture most of the people who will be infectious and be a far more prudent approach. Its one we have been thinking about for awhile. Im glad to see them take this step forward and say you know what, we really need to come up with recommendations that people will actually follow. Ashley i wanted to ask you this question, too, because this is getting a lot of attention, especially today. Los angeles banning Outdoor Dining from 10 00 p. M. Tonight for about three weeks. From a medical standpoint, is that justified or is that over the top . Because i thought outside dining with proper social distancing was okay. Right. So this again is based on cdc study which showed that people who tested positive for coronavirus were twice as likely to have reported that they had gone to a restaurant. The thing about this is, that study did not differentiate between indoor and Outdoor Dining. Indoor dining is considered a high risk activity. Outdoor dining, from what we know, is not a high risk activity. What this reminded me of, frankly, is the mayor of new york city closing Public Schools because of an arbitrary threshold that was reached, a percent positivity. When you look inside the schools, they are not superspreaders. We have no data to suggest that Outdoor Dining is dangerous. As you just saw from the unemployment claims, continuing to go up, this is a really big deal to be closing down Outdoor Dining without evidence and there may be a backlash. There may be an issue where people are less likely to follow guidance if its not based in sound science. So im with the people who are concerned that this recommendation was made somewhat arbitrarily. What we need here is a surgical scalpel approach, not a buzz saw. What youre seeing are these very dramatic sort of over the top decrees that dont always base themselves in science. Ashley absolutely right. The restaurants actually sued l. A. County and lost in court, saying l. A. Can do it but its devastating news for the Restaurant Owners in los angeles county. Dr. Matt mccarthy, great stuff. Thanks for joining us today. Thank you. Ashley all right. Lets have a look at the markets, why dont we. After an historic day with the dow hitting 30,000, now we are just under that in the premarket. Down about 64, 65 points on the dow, the s p lower, the nasdaq slightly higher. Good time to bring in our good friend, marc tepper. Good to see you. We hit 30,000. Nothing more really than just a psychological level. We can all wear our hats now with dow 30,000. Where do we go from here . Well, ashley, no question about it, the path of least resistance is up, especially with vaccines on the way. When the dow was at 28,000 i heard a lot of people saying 33,000 by the end of the year 2021. I agreed with that. Now it seems like a layup at this point. But ashley, heres the thing investors need to be aware of when you look at the dow. The dow is a priceweighted index versus the s p which is cap weighted. With the dow, the price per share matters. Heres why thats actually relevant. The biggest weighting in the dow is United Health at 336 a share versus apple being the biggest weighting in the s p at 115 a share. Right . So big, big difference there. The stock price is three times as high despite the fact that apples market cap is six times that of United Health. So as an investor, i think it makes sense to take a look at the constituents of the index and figure out the ratio within that index. Ashley interesting. You say Holiday Shopping is going to be big this year. How big . I fully believe this Holiday Shopping season is going to be the strongest we have seen by a lot. You are telling the grandparents they cant see their grandkids, they are going to tighten the belt buckle and spend less on Holiday Gifts . No way. Youre going to see kids getting more lululemon, more nike, more apple products, more video games. Most of its going to be Online Shopping so stick with those companies that have a good Online Presence and a good directtoconsumer model. I wouldnt expect the nordstroms of the world, the macys of the world to be the primary beneficiaries of this shopping season. Ashley you like activision blizzard. We talk about this stock from time to time. People who love it, love it. Why do you like this stock . We have black friday cyber monday coming up. Thats a big reason. I have a 9yearold son who is begging for the new play station, the ps5, and they are all sold out. If you want, you can go and get gouged on ebay and pay a 300 markup but not a lot of people want to do that. Its pretty obvious video games remain in high demand, especially as we are seeing an uptick in lockdown predictions. Ac ac activision has some of the best ever, call of duty, world of war craft, they even made the transition to that free to play model which has been so successful for so many companies. Their Fourth Quarter release schedule looks very very strong. I think its going to be a great Fourth Quarter for those guys. Ashley hope your sons not watching. Right now hes sweating it, thinking i might not get that playstation 5. Dont panic. [ speaking simultaneously ] ashley panic buying. Its expensive. Mark tepper, thank you so much. Really appreciate it. Now this. Los angeles mayor urging people to stay home for thanksgiving. Travelers need to follow form and if they dont, you Better Believe theres a fine. Were on that story. Despite warnings, millions of people are traveling for the holidays. Just take a look at this flight map. Thats a lot of little yellow planes flying all over the place. Yes, people are traveling. Also, what does football look like on thanksgiving this year . I think the big game, steelers ravens. Well see. We are all over it. Of course, your money. Stay with us. The thanksgiving edition of varney just getting started. When i was in high school, this was the theater i came to quite often. The support weve had over the last few months has been amazing. Its not just a work environment. Everyone here is family. If you are ready to open your heart and your home, check us out. We thought for sure that we were done. And this town said not today. Now every bath fitter bathbath fis installed quickly, and this town said not today. Safely, and beautifully, with a lifetime warranty. Go from old to new. From worn to wow. The beautiful bath youve always wanted, done right, installed by one expert technician, all in one day. 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Mortgage applications rose 4 last week, and 19 from last year. Lets take a look at refinances now. 79 higher than last year, at the highest pace since last april and guess what . 19 million additional borrowers could still save money by refinancing at these record low rates. Im one of them. I need to get on this and do it finally. This is the bottom line right now for the Housing Market. This is a slow season but not this year. Everythings different in 2020. The Housing Market is redhot. There is one Thing Holding buyers back and that is supply. You simply cannot buy what aint being sold. We need more supply. Ashley you certainly cant. That means prices going up. Lauren, thank you very much. Lets bring in economist john l lonski. What do you make of these numbers . The Real Estate Market is hot, no doubt, but a lack of supply, prices are going up. Is that starting to hurt the ability of firsttime home buyers of getting on the ladder . Oh, thats true. Affordability is becoming a major issue for some of these firsttime buyers who simply dont have enough money to make that down payment. Nevertheless, i think when you look at these housing numbers, they are super fantastic. They are great. Lets not forget that after you purchase a home, usually you have a host of different expenditures that are related to a newly bought home and i believe these derivative expenditures that accompany the purchase of a home are going to provide us with some support to Consumer Spending going well into 2021. Ashley also, we got the initial jobless claims for this past week, coming in at 778,000, little higher than expected, continuing jobless claims also just a tad higher. What do you make of that . Where is the economy right now . Well, i think its still growing, its still doing well for the Fourth Quarter, but this increase by jobless claims bring attention to how recent lockdowns and resurging covid19 are curbing business activity. We may not really feel the brunt of any drop in activity brought on by resurging covid19 until the First Quarter of 2021. Growthwise, i think we are going to have a good solid Fourth Quarter. Im more worried about the First Quarter. All this brings attention back to the simple fact that this recession was entirely about covid19 and if you can develop a vaccine for covid19 and get it distributed rapidly enough, you are going to have a vshaped recovery. You are going to have real Economic Growth in 2021 of perhaps 4. 5 , if not a little bit higher. Ashley but we are seeing more states take more drastic measures with regard to the increasing covid cases. L. A. , by the way, county is banning Outdoor Dining for three weeks starting tonight. How much does that i know its a state by state case, but how much damage does that do to the recovery . It does some damage. It makes matters worse for industries that are already hurting. Bars and restaurants, lodging and the like. Thats why its of critical importance to get Financial Assistance to these businesses and employees that are being directly hurt by covid19. Ashley yeah. Once we do get the vaccine, and we continue to say this, but once it comes, will we be right back to where we were before we even knew what covid19 was . Because the economy then was on full, you know, full bore engines. It was firing along, humming along very well. I think the u. S. Economy is going to recover at a faster than expected pace. Many of us are going to be surprised at how quickly Economic Conditions are normalized once a vaccine takes effect. Thats what were seeing in the equity market. We have record highs for equities in anticipation of a vaccine. I want to add also, we did have troubling news on jobless claims and if the market saw this latest increase by jobless claims as signaling a possible downturn in Economic Activity by 2021, treasury yields would have plunged. Instead, i thin