maria: thank you so much, dagen, lee, steve. great show today. thank you. have a great day. "varney & company" begins right now. stu, take it away. stuart: it sure does. good morning, maria. good morning, everyone. i'm going to call them the crown jewels of american business. big tech. microsoft, apple, amazon of this world. i will even include companies like tesla. today, we start, what, a two-week period, where we find out how well they have been doing in the virus era and how well they will do as we come out of it. their earnings reports will move the market no matter what's going on with vaccines and new stimulus plans. listen to this. pfizer and biontech are working on a vaccine and we've got some

promising results from both of them. later, we are expecting news from astra-zeneca, that's a british company. they are going to announce the results of their phase 1 trials of a covid vaccine. now, positive news on a vaccine usually moves the market. it certainly did last week, and i think it's helping futures this morning, too. there is news on a new stimulus plan. the president says he would not approve any plan that did not include a payroll tax cut. all right. now look at the market. it has turned around. earlier today we were way on the down side. but now we have moved to the upside -- i think it's on the strength of this vaccine news. the dow held to the 26, 600 level last week. 8,000 points above where it was when president trump won election. by the way, a new "the washington post"/abc news poll showed joe biden with a 15-point lead, 55-40. this is 106 days before the november vote. we will be talking a lot about

election risk on today's program. then there's this. for the 54th straight day, rioting overnight in portland, oregon. the mayor blames federal agents just for being there. he says it's the feds who provoke the crowd by their mere presence. there were clashes again in seattle and shootings in chicago. this is monday morning. "varney & company" is about to begin. stuart: this is going to be a big week on the earnings calendar. ibm today and then we're looking at some of the greatest american companies. microsoft, they report on wednesday. so does tesla. that's wednesday as well. thursday, we get a few of the airlines, southwest, american and also twitter. that's this week on the earnings calendar. keith fitz-gerald with us now. you've got some concerns about the market.

we have not heard you be really cautious for a long time now. is this election related, by any chance? >> actually, it's more vaccine related and election related. it's not a trifecta. i think the joe biden effect is a lot more real than the president of the united states would care to admit right now, than the pollsters certainly seem to want to clarify that, causes me concern because the computer that caused the last selloff have already been reprogrammed and will act faster if the selling starts. stuart: why are you concerned about a vaccine? we've got positive news on a vaccine. what's the problem? >> the problem is, again, coming into this morning's show, i didn't know we were going to have that positive news. i think the science is going to beat this. i play optimistically, i play for the future and for hope, but my job in this capacity is to prepare for the worst even as i hope to find the best. if we get a vaccine that fails, that's a strike against us. if we get a vaccine that doesn't work properly, that's an effect.

if we get a vaccine that mutates or does something it's not supposed to, that's a negative effect. stuart: are you telling me this monday morning you wouldn't tell your clients to put fresh money into the market right now? >> no. actually the opposite. i would say continue to play offense, continue to be in the wind or you are not going to win but now, for the first time since march, i am extremely concerned about the prospect of a short-term pullback. stuart: okay. got it. we will keep in touch with that. stay there, keith. more for you later. let's get on with the rise in virus cases that is a factor in the market. first of all, look at ohio. 1100 new cases, 42 new deaths, more than 1,000 current hospitalizations. here's what the governor mike dewine had to say about it. roll tape. >> i gave a speech wednesday night which was basically said to the people of ohio look, we are at a crucial stage. we are at the point where we could become florida, you know,

you look at our numbers today versus where florida was a month ago, we are very similar numbers. we're very very concerned. stuart: there's a clear-cut warning for you. come in, ashley. tell us about the other states and how they were hit over the weekend. ashley: well, we are talking about florida, texas and california, ybut i want to give you an overall picture for the u.s. because there are multiple states, not just those hot spots, that are now seeing a rise. let's look at the total new number of new cases. 61,847. current hospitalizations at 57,247. and the number of deaths coming in at 415. again, florida, texas and california continue to be hot spots, but we are seeing a rise now in the number of cases being reported along with, it must be pointed out, much more increased testing in more states than just those hot spots right now. stuart: i guess to counter that, we've got positive news on a

vaccine from various companies. ashley: exactly. stuart: i guess it's balancing out. lots of new cases but good news on the vaccine. it balances out eventually, doesn't it. get back to you in a second. we have president trump telling fox news' chris wallace he wants, no uncertain terms, he wants a payroll tax cut. roll tape. >> what about the payroll tax cut? >> i want to see it. i want to see it. >> is it in the bill? >> i'll have to see but yeah, i would consider not signing it if we don't have a payroll tax cut. yes. stuart: today, senate majority leader mitch mcconnell, house minority leader kevin mccarthy, they go to the white house to discuss the next virus bill with president trump. market watcher keith fitz, come back with us, please. is a new stimulus package absolutely vital to the market? >> in my opinion, yes, it is. because there are tens of millions of americans who are still hurting, whose businesses have been devastated by this, who are not yet back at work. if you give businesses an

incentive to bring those people back, you give small business owners an incentive to open, that's one of the single most powerful economic tools we have at our disposal. i do think as much as i don't want to spend money, i do think we have to. stuart: if it was a stalemate and no stimulus bill, does the market go down? >> yes. i think it does. stuart: and if there is a stimulus bill, and it does contain a payroll tax cut, is it off to the races? >> that's my bet. that's certainly the way i'm lining my money up. i think that it is going to be good for the markets. i think people will react favorably to that, particularly again, if they can reinject hope. this is like looking into a well right now and not knowing how deep it is, stuart. we've got to get clarity on where the bottom is. we're looking down a tunnel. we have to see a light. right now we can't do either. stuart: hold on again for a second, keith. i want to update the viewers on portland, oregon, the situation there. oregon is suing the trump

administration, that state wants federal agents out of portland. camouflaged homeland security agents have been protecting, protecting federal buildings from rioters but the rioting continues. president trump and portland mayor ted wheeler are clearly at odds over this. just watch this. >> if you look at what's gone on in portland, those aanarchists. we took a very tough stand. if we didn't take that stand, they were going to lose portland. >> the president has a complete misunderstanding of cause and effect. what's happening here is we have dozens if not hundreds of federal troops descending upon our city. their presence here is actually leading to more violence and more vandalism. stuart: clearly the president and ted wheeler are at odds. that's the state of play in forland, oregon. let me move to seattle. rioters damaged and looted stores again on sunday, they set fire to a police precinct sunday. keith fitz, you live in the

seattle area. just act as a reporter for us for a second. what's the scene there? >> well, the scene is one of chaos. you have a lot of seattle residents, the people i know, love and trust doing their thing peacefully and you seem to have a very tightly controlled, well organized group that is showing up as if on cue with baseball bats and hardcore rioting material. they seem to be invoking the crowd psychology and turning it against itself. it's very very disturbing. it reminds me of new york in the '70s before mayor koch took over and took such a heavy hand. stuart: strong thing to say. thanks for being there today. thanks for acting as a reporter on the situation in seattle. it is indeed chaos. thanks, keith. look at disney. look at facebook. those two companies are very much in the news this morning. susan, bring me up to speed here on disney cutting ads on facebook. susan: disney was a top u.s. advertiser on facebook last year, setting more than $200

million according to an ad tracking firm. a big name joining the nearly 1,000 companies saying they are pausing ads on facebook over the proliferation of hate speech and misinformation. not clear how long disney was planning for its pullback. it didn't make a public announcement on it. the "journal" says disney is also pausing its millions of dollars in ads for its streaming site hulu off face booked-owned instagram. cable channels like freeform and also espn along with abc, hard to come by in terms of ads on facebook these days. facebook makes around $70 billion in annual advertising revenue from over eight million advertisers but it would really take a sustained boycott from its biggest advertisers to really put a significant dent in a company's financials, right? stuart: well, do you think it's possible that some of these companies are pulling back on advertising because that's what they want to do? it's nothing to do with

facebook -- susan: might be. why not get the collective i guess pat on the back if you are doing it also on civil rights grounds as well. stuart: you get the point on p.r. for doing that with facebook. you are helping yourself, saving money in a bad time. maybe so. susan, thank you very much indeed. look at nikola. that stock went tumbling. the s.e.c. -- it says nikola is going to offer 24 million common shares. that means the dilution of existing shares. the stock this morning is down 20%. it's an electric car, electric truck company. they are all the way back to 39 bucks a share. then there's draftkings. they are up just slightly this morning. baseball begins to make its comeback, that means sports betting is set to return. not sure what fashion baseball makes a comeback but the stock is up just a little on that news. how about futures overall? a little bit of green on the screen this monday morning. up for the dow, s&p and nasdaq.

in particular the nasdaq. up half a percentage point. big show coming your way this monday. starting with former white house chief of staff mick mulvaney. i want to know if he thinks we really do need, is it a must have, another round of stimulus. stephen moore economist with us, says no stimulus deal is better than the one currently on the table. look who that is. look at that, far right of the screen. doug schoen. he says the race between trump and biden is closer than the polls suggest. a couple in kentucky have been forcibly fitted with ankle bracelets and placed under house arrest after a run-in with the health department over the virus, and quarantine. is that constitutional? we will hear from the judge next hour. president trump will not issue a nationwide mask mandate. he says that's up to the governors to decide. should they do it? should there be a mask mandate? we will ask dr. siegel after this. ♪ instead of trying to decide

"should i invest in stocks or not?" meaning, "are stocks going to rise or not?", let's instead stop looking at the investments, which we can't control, and let's now look at our goals, which we can control. in other words, we only want to take as much risk as is necessary to achieve our goals. we need to protect the money that's there. and that says you should be investing in... there's an art to listening. it's the ability to hear more than what's being said. to understand the meaning in every pause. and to be able to offer the answers that make someone feel truly heard.

i understand, let's get started. that's what you get when you talk to a dell technologies advisor. maria had to do everything for me. [maria] she had these awful blisters on her back. i don't want shingles when i'm your age. [camera man] actually, if you're 50 or older, you're at increased risk. [maria] that's life, nothing you can do... [camera man] uh, shingles can be prevented. [maria & theresa] shingles can be whaaaat? [camera man] prevented. you can get vaccinated. [maria] where? [camera man] at your pharmacy, at your doctor's. [maria] hold on! [maria] don't want to go through that! [theresa] hija. [camera man] talk to your doctor or pharmacist about getting vaccinated.

stuart: pfizer and biontech, i think i've got the pronunciation right, they are work onniing on vaccine. they just announced positive results from their most recent studies. dr. marc siegel is here. we are getting an avalanche of good vaccine news. i have to regard that as a positive. how close are we to getting something out there and in the works? >> well, stuart, we are still waiting for the 30,000 people per vaccine to be tested around the world. that's stage 3 trials. but what you're just hinting at is pfizer and biontech vaccine is just announcing that not only

is the vaccine causing the antibodies that we want, neutralizing antibodies, but it's also causing t-cells which are the most important immune cells against viruses, that it's causing a t-cell response against the virus. that's a double immune response. that's extremely important and if that is found in clinical trials as we go forward, that is going to mean a robust immune response likely will help us with a vaccine. the same, by the way, is coming out of the oxford vaccine today. astra-zeneca is going to report the same thing in "lancet" i predict. the editor in chief tweeted out exciting news coming on vaccines today. it looks like the headline here is both vaccines are making immune responses. stuart: the editor of the "lancet" said extremely encouraging news on the vaccine is coming today? he said that or she said that, not sure who it is? >> richard horton treated it

last night. absolutely. vaccines today, he said. this is exciting stuff. it's a double immunity. stuart: okay. that's the important point right there. all right. thank you, doctor. one more thing for you. i want you to listen to what president trump told chris wallace about a nationwide mask mandate. watch this. >> will you consider a national mandate that people need to wear masks? >> no. i want people to have a certain freedom and i don't believe in that. with that being said, i'm a believer in masks. i think masks are good. but i leave it up to the governors. stuart: doctor, should we have a national mask mandate, in your opinion? >> no, stuart. i'm in agreement with the president on this. i think they have to be targeted to hot spots, areas where we are seeing a surge in cases. in texas, we have a mask mandate in texas. i think there should be one in florida as well. there isn't. i would say to governor desantis you had over 12,000 cases yesterday, get a mandate in there for masks in public

places, in areas where people are congregating. it's an additional help. it's not the answer, it's not the total answer, but it decreases the risk of viral spread based on recent studies. the hot spots need them, stuart. i'm in agreement. let's get the governors on it. abbott is on it. let's get desantis on it. stuart: just for a second, forget about a vaccine and answer this question. if we all kept social distance and we all wore masks, would we stamp this virus out fairly quickly? >> we would decrease it dramatically if we did that. if we hadn't had all this congregating in bars, in restaurants, in protests, at beaches, all of that was ridiculous and definitely helped to spread this. if we kept our distance from each other and added a mask and were very careful and washed our hands and disinfected, we would definitely get this to dramatically decrease, no question about it. stuart: dr. marc siegel on monday morning, thanks for joining us, sir. see you again soon, promise.

take a look at the stock price of delta, the airline, of course. they are starting a new screening process for travelers who cannot wear a mask. lauren, how does this work? lauren: so stuart, delta is asking customers who can't wear a face mask for medical reasons to have about an hour-long phone virtual consultation with a health company called stat md. if stat md gives them clearance, they can fly without a mask. if not, delta revokes their flying privileges so they cannot ever fly delta until this situation is resolved. it's a new screening process. it's in effect today until the end of the year. the whole idea is people must feel safe flying and delta wants everybody to wear a mask. stuart: i noticed, by the way, that the tsa has just reported a 4.5% decline week over week in security screenings. that's the first decline since i think it was the middle of march, which means our return to

flying, our return to travel, is slowing down. that's not good news. lauren: right. but also, people are nervous about the self-quarantines that go into effect when they return. they follow you, this is where you were, this is where you're going and some people just don't want to deal with that. stuart: that's really quite a story, isn't it. got it. thanks, lauren. let me move to ashley. there is a big energy merger today. tell me about it, please. ashley: yep. $5 billion deal. chevron buying noble energy. it's an all-stock deal. it would value noble at $10.38 a share. that would be a 7% premium over its close last friday. also, though, it would take on noble's debtload which is considerable which would make this deal about $13 billion. but shows some linsigns of life the energy sector. noble operates in the united states, also has operations in the eastern mediterranean and west africa. by the way, it's an independent

oil and natural gas producer. but 20 of those same types of companies have tiled ffiled for bankruptcy this year as the price of oil has really struggled to gain any traction. still, as you can see, price of oil right around $40 a barrel. for many of these independent oil producers, it's just not enough. stuart: got that right. so merge, stay in business somehow or other. thanks, ash. futures show a very modest gain, pretty much across the board. the nasdaq, though, a nice gain there, probably up about 40 points, nearly half a percent. we'll be right back. ♪ businesses are starting to bounce back.

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stuart: i've got some names, i'm putting them on the screen for you. microsoft, zoom, salesforce, slack. all of them have done very well during the pandemic. they are basically stay-at-home stocks. our next guest says those stocks on the screen, they've still got room to grow. look who's here. jeff sica, who has now turned bullish on something or other. i'm just making a little humor here on a monday morning.

look, you're telling me that if you're in the cloud and you're doing well in the cloud, your stock is going to do well. that's your basic point, isn't it? look at the cloud operations? >> yeah. here it is. you have the haves and the have-nots. anyone in cloud or subscription is certainly a have. those stocks that kept a good part of the economy in business during the pandemic, those stocks have benefited, in some cases doubled, tripled, quadrupled since march. so those are the stocks that most likely have some more upside. that being said, they also -- they might have fallen under the curse of high expectation and investors have to be very very aware that they need to beat or exceed expectations and the ceos need to be optimistic that things are going to continue to go well for them. stuart: fair point.

look at hollywood. they're not going to be back in the filming and taping business for a long time, because of all these new restrictions. that's a problem for the streamers. but what about netflix? you say they are immune from this hollywood problem. >> well, here's the thins with netflix. netflix is the king of content. they have a lot of content. hollywood cannot get out of their own way. they are instituting rules and regulations regarding testing and how many people can actually be on set that are going to greatly affect their ability to create content. now, that being said, netflix, disney are the king of content. nine of the ten top shows were disney and netflix shows last year. they have a library. they have content. now, that being said, if hollywood doesn't get their act together and we are talking about even the other territories that they film in, they need to

get their act together. they need to get a plan or we are going to be starving for content. we can't sit around and watch continual episodes of "arrested development" and think we'll be happy with that. stuart: i am, by the way, a netflix addict. thanks for joining us today. the bell has rung, the trading has begun. i don't expect much movement for the dow industrials, not in the very very early going. we are down about 40 points. look at the level, 26,600 for the dow industrials. the s&p 500 also opening just a little bit higher. actually, dead flat. let's be honest here. that is a dead flat indicator. but the nasdaq, i'm expecting to see a little green there and yes, we've got it, up abo about .25%. as we must almost every day, got to show you big tech. we keep saying it, that's where the money has been flowing so much. we've got a mixed bag today. we have microsoft, amazon and apple on the upside, just facebook and alphabet down.

look at this now. look at tesla. walt disney and facebook, we got that story for you. i think we had that one earlier. disney is withdrawing a lot of ads from facebook. both those companies are down. how about tesla? they report their earnings wednesday. susan, can you tell me what we should expect? susan: a nail-biter when it comes to profit or loss for the quarter. analysts right now are forecasting a loss for the quarter and that's despite better than anticipated delivery numbers for those three months from march to june of 90,000 vehicles. the process is important for tesla to get in near certain inclusion at least in the s&p 500, which has been a catalyst for the stock price because it's quadrupled so far this year. why? because if it gets included in the s&p 500, that means index funds have to buy the stock which increases the price. tesla needs four straight quarters of profit to do that. right now it's sitting at three. as i mentioned, the stock really depends on it and you never know. they say elon musk always surprises and there are whisper

numbers on the market right now that on a gap accounting basis which adjusts for a lot of things including cost, tesla might actually squeak through with a surprise narrow profit. it will be interesting to see if tesla sticks to its 500,000 car delivery tag they promised this year. i say an event is taking place on wednesday. stuart: you just invented a new expression. the whisper expectation. susan: i just said whisper number. i didn't say whisper expectation. i think whisper is a great number to look at. maybe they know some things other people don't. stuart: that's an acceptable expectation, i guess. all right. the stock is up 26 bucks. tesla this morning at $1527. microsoft also reports on wednesday. ashley, they have been on a tear during the pandemic. ashley: they have indeed. the whispered expectation is that revenue will be up 8.25% at

$36.5 billion. i will say that a few analysts have been a little less exuberant about the numbers that microsoft will post on wednesday, but of course, the cloud revenue is going to be a big focus, azure estimated somewhere around $13 billion. that's a third of its revenue. it's been a good work-from-home stock. we've got microsoft teams, of course, the surface hardware, and let's not forget gaming. people stuck at home start playing video games. xbox sales, game sales, xbox live royalties, all sorts of things to look out for. but microsoft, as you pointed out, stu, this is no rumor, no whisper, they have been on a tear. stuart: yeah. that is reality. that is a fact. good stuff. this is also a fact. amazon coming off its worst week since february. lauren, can you tell me what's going on? lauren: yeah. amazon shares were down every single day last week. they gave up about 7.5% last

week alone. worst week since february. they are making a little bit of that back this morning. they are up about 50% this year. look, there's caution out there. against becoming too complacent, that a stock can only go up. amazon reports their numbers on thursday. it has become a pandemic winner, a must-have because of covid. but guess what, they will very likely blow their entire expected $4 billion quarterly profit on response to the coronavirus. so as much as they are bringing in, they are paying out to protect their workers, to beef up their logistics network and the like. so they are making a lot of money but spending it, too. nonetheless, they are getting a $3, 350 price target this morning. stuart: do you remember when dave portnoy got into the stock market predicting business, he said stocks just keep on going up. a lot of people took that as a signal to sell because when you start getting stock tips from cab drivers and dave portnoy, you might have a problem.

remember that? lauren: i remember that. i also am looking at a stock that's over $3,000 so it is still very expensive. but ashley was bringing this up. when you look at all the different businesses that amazon is in, cloud, e-commerce, is this really a company that you can bet against? i don't know who is brave enough to get in or rich enough to get in at $3,008 but i think more people will bet that amazon goes up rather than down. stuart: you are probably right. because they are making noises about getting into the health care sector as well. lauren: yeah. stuart: that would be something, wouldn't it? you're right, amazon is back above $3,000 a share this morning, a gain of 43 bucks as we speak. overall, got a little bit more green certainly for the dow industrials. now we are up, what's that, five points? there's a contradiction between what you see on the screen and what you see on the bottom right-hand corner of the screen. i believe the dow is up 2. -- there you go.

corrected it. we are dead flat. got that. the ten-year treasury yield is this monday morning .61%. not much different from late last week. the price of gold, i think it's still around 1800 bucks an ounce. $1816 to be precise. oil, $40.34 per barrel. twitter still investigating last week's massive hack. susan, new details on who was targeted. tell us. susan: 130 twitter accounts and 45 of those 130, the attackers were able to reset passwords to log into the account, then send the infamous bitcoin scam tweets. for eight of those 130 twitter accounts, the hackers were also able to download private information including direct messages but it's important to note that none of those eight were verified accounts, not the famous ones we know like the bidens, obamas and musks. insight from a "new york times" report this weekend suggests the attack was pulled off by a group of young people, one of whom was just 19 years old, lives with

his mother in england. another is a 20-year-old that lives on the west coast. it wasn't russia or even a sophisticated network of hackers. the ringleader was a user named kirk who somehow managed to gain access to twitter's internal systems. twitter had said it was by social engineering which meant an employee was tricked or some would suggest bribed into giving up their passwords and access. the "new york times" though does say the hacker group met each other on the popular message board called discord. stuart: maybe that's why the stock is not in any trouble. it's at $36 a share, up again this morning. maybe it's just a group of youngsters, one of whom lives with his mother in england. maybe that's why we don't have a stock fallout. maybe so. then there's this. congresswoman alexandria ocasio-cortez says it's time to tax the rich in new york. watch this, please. >> governor cuomo, we need you to pass a bill. you need to tax in order to make sure we are providing for our working families.

it's time to stop protecting billionaires and time to start working [ inaudible ]. stuart: governor cuomo responded. he disagrees with aoc. we will have that little debate coming up on the show. president trump says the radical left is driving joe biden's campaign. roll tape. >> if joe biden got in, first of all he won't call the shots. the people, the radical left people that surround him, he will destroy this country. it won't be him. it will be the radical left. stuart: in our 11:00 hour, former clinton pollster doug schoen on the far left's grip on the democrat party. he is a democrat. first, we have the cofounder of medley, a prescription delivery service. we are calling this a lockdown winner. more after this.

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stuart: yes, we do have the results from astra-zeneca's virus vaccine trial. ashley, what are the findings? ashley: yeah. according to "lancet" these vaccines showed the acceptable safety profile and in fact, showed that it managed to induce the immune response that the vaccine was designed for. in fact, it says after two doses, all the patients, all of those who participated in the trial, exhibited the antibodies needed to combat covid-19. so that is very positive news indeed. in fact, it's interesting, because astra-zeneca is down after hitting a high of $64.94 but the results from this oxford university/as ttra-zeneca covid9 vaccine trial very positive indeed. stuart: strange that the stock is down, having hit $64.65

earlier and strange that the whole market is moving lower despite this good news on vaccine. i see the dow is now down close to 80 points. all right. we will get back to that in a second. thank you. look at walgreens. they are partnering with door dash for a new delivery service. lauren, can i get my prescription delivered very easily? lauren: think so. they are partnering with door dash to deliver thousands of items to your doorstep including over-the-counter drugs. i'm sure they will deliver prescriptions as well. right now the service will be in chicago, atlanta and denver, then they will expand to all those markets later this summer. this is what's important about this story. door dash is valued at about $16 billion. they have the largest share of the food delivery market. about 45%. but now door dash is growing its delivery options outside of restaurants, delivering almost anything you need, prescriptions, non-prescriptions, shampoo, you name it. so they are building a bigger share of just the delivery market in general.

walgreens is a dow component, it's down 1.5% today which is not helping the market. stuart: that's the important point. door dash is expanding its delivery of anything you want to have delivered. that's very important. thanks, lauren. which brings us to our next guest, the co-founder of a digital pharmacy startup called medley. they deliver your prescriptions free. i believe on the same day. they just landed another $100 million in funding from venture capitalists. sir, who pays? if you can deliver a prescription to me for free on the same day, who pays? where do you get your money? >> well, first off, stu, thank you so much for having us back on, and with the incredible ride that we've had. at the end of the day, the customer is paying, but it's a combination of the co-pay just like any other pharmacy would get paid as well through the

insurance company and because of the services we have been able to offer, we really have been able to scale the business very quickly because of the value of same day delivery. we have been able to scale it north of 100x in revenue. as you mentioned, it's been extremely exciting rise thus far. we are even more excited to announce we raised $100 million to scale this business faster throughout the country. stuart: well, you are ideally situated for the virus and the lockdown. you couldn't ask -- forgive me for saying it but you can't ask for a better situation than the one you find yourself in right now. but what sets you apart from the other prescription delivery services? what's different about you? >> that's a great question. there's a couple of main differences, right. first, we are second generation pharmacy owners. we come from the business, we understand the operational nuances, and really, stu, it comes down the a lot of these operational switches in the business that makes us so different, really what compels people to join medly.

for example, in our filling and billing process, we automatically apply for coupons so we are able to pass that savings directly to the customer. not something that all pharmacies can say. another thing is that we are able to serve all types of customers, a variety of customers, anywhere from millenials to patients that don't want to leave their home, to your point, because of covid, for example. so given this, this has been a big part of why we have been able to scale so quickly. stuart: are you waiting to be bought out by someone? would you like that? you could make some serious money. are you expecting a buyout offer? typical stuart varney question. you want to answer it? >> it's a great question. at this time, especially bringing on partners like chewy, for example, as well as our existing investors, we are extremely focused on scaling

this business and making medly a household name for everyone needing prescriptions. that at the end of the day is why we started the company and why we believe we are going to be successful here. stuart: okay. congratulations. $100 million worth of funding just rolling in to you. extremely increased delivery business. good stuff indeed. we hope you will come back and see us again soon. thank you, sir. appreciate it. >> thank you. stuart: congressman republican from colorado says tik tok is a serious security threat. can we actually ban tik tok completely from the united states? can we actually do that? do we want to do that? i will ask the good congressman later. also coming up, one of the pastors who is suing california's governor because he banned singing in churches. what is with that? you can chant at a protest but not sing in church? i really don't get it. we will discuss it at least. hotels on the brink

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stuart: all right. let's talk online shopping. shopping on your phone, i should say. our next guest develops apps for e-commerce sites. okay. we'll get to that later. first, you're looking at times square, new york city. it's going to be a scorcher today. it will feel like 100 degrees. don't expect any crowds in times square today. not going to see them. some hotels are closing their doors for good because of the pandemic. kristina partsinevelos in new york for us. how many hotels could we lose? kristina: well, 8,000 is the number that the c.o.o. of the american hotel lodging association is putting forward and he's saying 8,000 by september. what we are seeing is hotels shuttering their doors across the country. i'm standing in front of two hotels that are set to close, including the w right behind me in the financial district and this is leading a lot of

industry experts to worry what's going to happen to the hotel industry post-pandemic. according to a filing with the state, the w behind me will be letting go at least 130 people so of course, it's not just hotel companies that are hurt. you have job losses, and communities that could be devastated, why, because hotels are major tax drivers. they bring in tax revenue, especially to metropolitan cities. listen to this sound bite. >> it's also the employees in the restaurants and the shops nearby the hotel. it really hits hard those international locations. take a place like new york city. over 30% of the buyers of luxury goods are typically foreign nationals. you are clearly not going to see that in the short term as well and many that stay in hotels. kristina: real estate firm cbre predicts that revenue, the average revenue per hotel, will drop at least by half just in 2020 alone. they are predicting that the impact of the coronavirus will be worse than the financial

crisis and 9/11 combined which is why already so many hotel chains are letting go of a lot of workers across the country. we know in june, hilton said they were letting go 22% of their corporate staff. unfortunately, they said they plan to increase even more of those furloughs. then you have the marriott international that said they are letting go of some staff and they are going to be extending their reduced work hours and those that are furloughed will be furloughed longer up until at least october. so you have a situation where new cases are definitely affecting travel and the hotel performance which is why cbre isn't expecting a comeback for this industry until at least 2023 and that's going to have a major effect on the surrounding communities. back to you. stuart: yes, it definitely is. good report. thank you, kristina. good stuff. now, we've got a big lineup still to come in our second and third hours on this program. mick mulvaney is on the show. i want to know, are we going to get a stimulus package and if we do, what will it look like. stephen moore's on the show as

well. he says no deal on a stimulus package is better than the current stimulus package proposal that's on the table. how about that. doug shoen is back. who is really driving the biden campaign? is it the radical left? we will ask him. first, though, you are going to get my take, what i'm calling election risks. those are the risks that come with a biden presidency. the second hour of "varney & company" right after this. . . . apps are used everywhere...

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stuart: look at that. we're half hour into the trading session this monday morning. we got some red ink for the dow and for the s&p. only the nasdaq is coming in with a small gain. a couple of drugmakers to take a look at. pfizer and bio entech. they announced positive results from a early study. here is what dr. marc siegel told us last hour. >> what you're hinting at, pfizer and biontech vaccine, that the vaccine is causing antibodies we want, neutral aying antibodies but t-cells, that is the most important immune sells. it is causing a t-cell response to the virus. that is important response. stuart: more good news on

vaccines. astrazeneca, their vaccine after two doses virus antibodies were present in all vaccine patients as well. despite the positive vaccine results we're getting from all over the place this morning, astrazeneca is down. so too is the overall market. positive news on vaccines did not move the market up this morning. now this. there is a new poll and it is not good news for investors. it shows joe biden leads president trump by 15 points, 55-40. okay, it is a "washington post" abc poll, they're hardly unbiased but, 15 points? that is a commanding biden lead. in short, there is election risk. the risk being, that president trump loses. this is something that anyone with a few bucks in the market has to think about. what happens to your 401(k) or your ira if joe biden wins. i have to believe, that a biden

win looks if a biden looks, if it looks like he is going to inwith, the selling will begin way before the election itself. why? because a biden win means tax hikes for individuals and for businesses. that's what hurts investors. he wants to raise the corporate tax rate from 21 to 28%. raise the top tax rate for individuals from 37 to 39.6%. raise capital gains taxes. raise estate taxes. you bundle all of that lot together, you have got a complete reversal of the tax cutting policies that produced the huge 8,000-point rally for the dow since donald trump became president. it may get worse. in early august biden will name his pick for vice president. senator elizabeth warren is said to be a front-runner. she is the scourge of the banks, the scourge of wall street. the pundits say, she would be the most influential veep in

history. would you own a stock in a bank or any other financial company if she were just a heartbeat away from the oval office? the most important thing for all of us is to get the economy growing strongly again. you don't do that by raising taxes across the board, especially when you're trying to recover from a virus shutdown. you don't do that by ending america's energy dominance. we need cheap energy. ask yourself, what will you do with your money if it looks like we're heading for a biden-warren presidency. it's a dilemma. it is called election risk. look who is here to address the subject. none other than dennis gartman the man himself. am i on to something, dennis? do you think election risk is present here and now in this market? >> i think so, absolutely. first of all let's understand the democrats don't usually do too much damage to stock prices. democrats are usually beneficial to stock prices. but overall movement in stocks last 100 years has been from the

lower left to upper right. we're not running democrats this time. we're running socialists. that is entirely different circumstance. there is really market risk, very real presidential risk. do i think president trump is behind by 15 points? possibly not. as you point out "washington post" poll that tends to be somewhat biased. right now it looks likes he will lose. if he loses 15 points, it will be a tidal sweep in the senate and tidal sweep in the house. all the taxes you talked about they will pass and there is the problem. stuart: last week you talked about moving into gold. still looking into gold as an investment vehicle. is gold, a escape hatch for election risk? >> it can be and should be and may well be. it also has been a real, it has been a strong performer all year long. i mean if you take a look for the year-to-date, the dow is down about 2%. the russell is down about 12%.

the s&p is down about half a percent. gold is up 16.7%. you have what you really have is a move in the gold market, predicated upon the increased, expansionary policies by the federal reserve banks and reserve banks around the world. add to that the political risk incumbent here in a biden potential victory. gold will continue to move higher. i'm not a gold bug. there are times when one is to own gold. time is to be long gold. for a while i was on the sidelines. for the past year and a half i've been relentlessly bullish on gold. except for a day or two i moved to the sidelines. i bought back into next week. we're making new highs. the trend is up. we're going from lower left to the upper right and mainly on expansionary policies. stuart: for benefit of our viewers. we're not big time hedge fund operators. how would you buy into gold, buy gld?

it is that? it is easy? >> that to me is the bows indicator, the best way to gain exposure to the gold market. there are people with greater risk tolerance i do, who buy the junior miners. people who have somewhat greater risk than i do, buy regular miners. i avoid the miners. if i make a bet predicated on gold, let me own gold itself and gld. that is the best approximation of gold as etf. you can move any size you want within one or two pennies with the previous bid offer. stuart: dennis, always a pleasure. thank you very much for being with us again. we hope you're well. >> most important thing. my wife is still with me. god bless her. stuart: got bless her indeed. young man. thank you. we're down for the nasdaq. no, the s&p moved up a fraction. nasdaq is up a nice .69%. the dow, boeing is a dow stock. boeing is down. 3m is dow stock.

3m is down. that may account for some of thedown move in the dow industrials. a big shakeup in the oil industry. chevron buy noble energy. paying five billion dollars. it is all-stock deal. if it goes through is it would be the biggest deal since the pandemic started. chevron is down, noble is up. i wonder if that quote is right, 27 cents? i'm not sure about that. let's move on there, staying on oil. ash, come in please, concerns over demand creeping into the oil market again? i see it is down this morning. ashley: it is. in fact if it stays that way it would be on pace for the third day in losses. that is the longest losing streak since we saw the market plunge in april but there is concern about fuel demand which has recovered from 30% drop in april but is now starting to sputter a little bit as we've seen, not only here but around the world the demand drop off just a little bit. certainly well below previrus

levels. we're also seeing demand for retail gasoline which i think is interesting in the united states, start to fall off. we talked a lot on the show about people taking road trips instead but now people are perhaps more a little reticent to get out on the road again. we've seen cases rise. the national average as you see on the screen for regular now, $2.19. we should mention number of oil and natural gas rigs actually operating fell to a record low for the 11th month in a row. so that was going on before the pandemic. certainly there are questions, even as opec wants to increase production. stuart: if you couple that news on oil with the news earlier this morning that airline travel is actually slowing down again a little bit, that raises the whole question about how strong is this "v" recovery? it looks like we're not coming out of the depression scenario as fast as we would like. add it all up together, that is what is looks like.

that is maybe not helping the dow industrials either. ash, thank you. next case, we're seeing strikes across the country today from fast-food to airports. what links all these strikes, lauren? what's it all about? lauren: they want racial justice. so tens of thousands of workers nationwide expected to either walk off the job or take a knee for over eight minutes today at noon local time in honor of george floyd. the service employees international union is joining forces with other groups to demand not only racial justice but 15-dollar minimum wage and more pandemic protections. many of these strikers are what is called an essential worker. janitors, nursing home employees, airport and delivery workers and they are demanding action by their companies and by government. in an instance where they say racial inequality, wayne inequality and the pandemic have collided around hit their communities harder. stuart: we hear it. thanks, lauren. big city exodus, there is a

story we've been covering for you. look at these numbers. online views of properties in the suburbs and rural areas are up 30% from last year. looks like demand is there, outside the cities. mitch rochelle is with us, pwc business development leader. what's driving this mover? >> stuart, this is something that started a little while ago actually before the pandemic and my observation is this pandemic has just hyper accelerate ad preexisting trend. i think families that lived in urban areas that were worried about the education of their children and access to that education began to start looking at suburbs maybe a couple years ago but enter a lockdown, the stress around it, they can't get out fast enough and you mentioned online viewing. a couple of months ago the online views were up hundreds of percent year-over-year. it's a race to the suburbs about. it is going on right as we speak. stuart: now, you've got, as

people look to buy a home, you've got a warning on something called a closing scam. can you explain this to us because i think this is important? >> this sort of falls into the news you can use category. so what happens is, you can get an email a day before the closing from what looks like your broker, please wire money to this account or turn over your social security number and bank account number for wiring instructions. what happens is the bad guys hack into the brokers email account, title closure, escrow or email accounts even some lawyers accounts, find out when there is pending closing. they read the email chatter. they know who the buyer is. they contact the buyer on eve of the closing asking for all that personal information. stuart: is this happening often? >> it is happening more frequently. there were isolated cases around the country i would hear about, read about but since so many closings are virtual, it is

happening with greater frequency, more of the things that would have happened in a conference room in lawyer's office are actually happening online. it is not unreasonable to expect if you're a buyer, or seller, or buyer, rather, you would get a email asking for the information night before. my suggestion if you get any emails like that, about to close or in the closing process, pick up the phone, call the person who sent it because, sending that kind of information over email can be very dangerous. stuart: yes, indeed. mitch, thanks for joining us. that was a good warning. we appreciate it. >> you bet, stuart. stuart: rapper, entrepreneur, and now presidential candidate kanye west, threatening to cut ties with two major clothing companies. we'll tell you what he wants from them. plus aoc's big push in new york to tax the rich. governor cuomo is responding. we'll tell you what he has to

say. president trump is warning that he may not sign the next stimulus bill without a payroll tax cut it should be. we're getting new details what could be inside of a new bill. do we even need a stimulus? there is a good question for you. i will ask former white house chief of staff mick mulvaney that question. he's next. ♪ geico's been helping people save money for over 75 years. they've really stood the test of time. much like these majestic rocky mountains. which must be named after the... that would be rocky the flying squirrel, mr. gecko sir. obviously! ahh come on bullwinkle, they're named after... our first president george rockington! that doesn't even make any sense... mr... uhh... winkle.

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morning. nasdaq is up 84 points. that is the best part of .8%. amazon, they're back above $3,000 a share. after seeing their worst week since before the lockdown. this morning we're up $91. so what was the problem last week, lauren? lauren: well the stock was getting expensive for a lot of people but today we have two price target increases to 3800, one by jeffries, and one by goldman sachs and essentially they're saying the same thing. there is massive growth in e-commerce, people have changed the behavior because of the pandemic. that is good for amazon, which has its hand in some things. i want to report something, amazon has the earnings next thursday july 30th. we'll find out then the cost of the pandemic for amazon and how big their business has gone, how much they can grow the top-line growth. stuart: where they think it is growing on the next few months ahead on the call as they say.

that is important for all the big tech companies. amazon, $3057 as we speak. live look at capitol hill, talks begin today on the new stimulus package. lauren, do you know what is on the table with these talks? lauren: so the stimulus stocks are getting underway starting today. they are looking at several measures in this report as pub leaders, mcconnell, mccarthy, are expected to meet with president trump and secretary mnuchin later today. the new way is likely in the trillion dollar aid. roll the sound bite. >> it likes like that new package will be in the trillion dollar range as we've started to look at it, whether it's a payroll tax deduction, whether it's making sure unemployment benefits continue. without a disincentive to return to work, and then bluntly, we're looking at a number of areas to look at manufacturing, bringing some of those critical manufacturing jobs back from overseas. so that we're never put in a

situation where we have to depend on foreign countries to make sure we can protect americans. lauren: so if you look at the price tag, stuart, the democrats and republicans are two trillion dollars apart. the republicans have said more or less there are certain red lines. republicans want enticements for workers to go back to work. some sort of a stipend, and maybe 600-dollar unemployment benefits check that expires the end of the month. maybe reduce. that they want liability shields for companies and for schools, for a set period of time you can't sue your employer if you get sick while working. we'll see how they hash this out but they are $2 trillion apart right now. stuart: trillion dollars from the republicans, three trillion from the democrats, two trillion apart. very interesting. one of the necessarities of a new stimulus package, at least according to the president is going to be a payroll tax cut.

the president really wants it. watch this. >> what about the payroll tax cut? >> i want to see it. i want to see it. >> is it in the bill? >> i will have to see but i would consider not signing it if we don't have a payroll tax cut, yes. stuart: i want to bring in mick mulvaney. he is the former office of management, budget director a good friend of the show. welcome to the program. >> stuart, it is always good to be here. stuart: this morning we brought the tsa security screenings moved down in the most recent week. we also reported the demand for oil, gasoline, travel, down compared to recent weeks. so, would you say that we definitely do need a stimulus package of some kind? >> not definitely. certainly those numbers go into the calculation but of course there is numbers on the other side of the equation as well. the jobs numbers in may and june were through the roof. it was more than 7 million jobs created. new home sales were strong, retail sales were strong.

i get your point. it is well-made. i still think it is too early to know economically whether or not the stimulus from march, april and may has worked. couple weeks ago, less than half of the money in the cares act flowed out of the government. i hear what you're saying. i watch the data just as closely as you do. there are certainly signs of weaknesses here today but there is also signs maybe we're coming out of this from the last couple of weeks. so again, here is the bottom line though, stuart, they will pass something. whether or not you need it or not, something will pass before the end of july. the question is what. stuart: what you do not want in any new package, what you don't want, is some mechanism that keeps workers at home longer. that is the one thing you really want to avoid, right? >> i was glad to hear, play that clip from mark meadows. i think it is very well-put. which is, if you subsidize unemployment you will get more of it. people making more not to work than to work they are not going to work. republicans are focusing on a couple of right things as they

look at the stimulus package. they're looking to get rid of disincentives to work. getting rid of protection from liability. that is a good thing. the president is looking in the right place, when he looks at the payroll tax cut. because he knows how slow stimulus can be. he also knows he wants to get money into the middle class. one of the best ways to get it to the folks quickly is through the payroll tax cut. if there are other ways to do that, that is open for discussion. the president's head is in the right place on that particular topic. i don't really know how these things work. i keep hearing expression the rich has to pay their fair share. i'm hearing it for a generation. i'm hearing it now. is it possible some kind of tax increase, some way of taking money off rich people would be included in a stimulus package? >> keep in mind, paying your fair share, just means paying more, or someone think's you're not paying enough. if you will it be in the

stimulus package? probably not. it is too hard to do. they have two weeks before the august recess. they will focus on the spending side right now. sooner or later this will have to be paid for. there is no question about it. two ways to do it, take a larger slice of the pie, which is grow the economy, leave taxes where they are, or leave taxes where they are or grow the economy. take same size of a bigger pie. that is republican democrat fight for generations. there has to be a way to pay for it, rightly so. people can't believe it is free. it is not. there is a cost to this and future generations. you will see sincere discussions about tax increases in the future, just not between now and august. stuart: is there any tax increase as a conservative, free market, republican kind of guy, any tax increase of any kind you would say okay? >> i think if they're going to look at infrastructure which again is not a good short term stimulus but something can

stimulate the economy overtime and certainly something we need if they start talking about a larger stimulus package in the fall or even after the election, they should go ahead to look at the gas tax. it is sort of a user fee for that particular good. that is something i think could be a center of gravity and support for. stuart: let's wrap it up with this. you are convinced that they will passp something before congress goes on the august recess? you will get something, right? >> 100%. you're looking, in a recession or near recession. going into an election cycle. there is going to be something passed out of congress before the end of july. and president will sign something before the end of, before the august recess. stuart: it is july 20th, already. they better get a move on. mick mulvaney, thank you very much indeed, sir. always a pleasure. >> thank you, stuart. stuart: change of subproject. a couple in kentucky under house arrest, forced to wear ankle bracelets because they refused to sign quarantine paperwork.

we'll see what judge napolitano has to say about that. is it constitutional? we'll see. new technology coming to, the ford bronco, the mustang, the f-150. it is all about driverless cars. we're on it though. we'll tell you all aabout it. what do you look for when you trade? i want free access to research. yep, td ameritrade's got that. free access to every platform. mhm, yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything? hm. well i say no to kale.

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stuart: well the dow is still down but not as much as it was. down 50 points but look at the nasdaq, please! look at that! it is up 122 points. i'm telling you technology is doing very, very well today. ah, but look at the gap, way, way down. that's a loss there of 5%. susan, does this have something to do with kanye west? susan: yes it does. kanye es west, in the freewheeling south carolina speech, he was denouncing deals which made him a billionaire. in the speech in south carolina, i says there needs to be more representation of african-americans at the top of these big companies.

listen. >> i'm not on the board at gap. that has to change today. or i walk away. susan: that's right, forbes declared kanye a billionaire, based on his stake in yeezy. kanye said i could be worth tomorrow if i walk away. according to "forbes," kanye gets 11 to 15% royalties, wholesale royalties from yeezy sales. yeezy sales were 1.3 billion last year. "forbes" says it is contractually impossible to split from gap. gap is targeting a billion dollar in annual sales at the five-year mark. they say this is probably one of the best apparel and shoe deals in history, comparable to the michael jordan that brought in

1.3 billion since 19184. stuart: i walk away from my deal with the gap and gap goes down 5% that is the story. susan: gap gapped up 20% when it announce the deal with kanye west. give that enthusiasm, that makes sense. stuart: i want to bring in economist danielle dimartino booth. danielle, thanks for joining us this morning. i want to put this at you. all this morning we've been reporting on the tsa security checks, actually came down 4 1/2% in the latest week. we've been looking how much people drive. they're driving less than they were a few weeks ago. all of this tells me that this economic rebound which is supposed to be really vigorous is not as vigorous as we thought t actually might be slowing down. is that the way you read it? >> you know it is. on a personal level there were two, there were two speaking engagements i had going out into

the fall. they have both been postponed again pushing into 2021. we've got weekly data on hotel occupancy and on daily rates. that has come down since peaking the week of july the 4th. so we got two subsequent weeks of pullback there. in addition to. that we're also seeing job openings, which is the most important part of this economy, i'm sure you would agree, at the peak they were up 5.4% over the january levels. they have since come back down. they're down about 24% in data through july the 10th. even as we've seen the improvement in initial jobless claims completely disappear. so these are the not the kinds of trends we want to see as america retrenches as travel plans get canceled once again and you start to see the pressure come out in airlines in hotels as well. stuart: so are you saying that we absolutely, postively have to have some kind of new stimulus package to get things going all over again?

>> you know, stuart, it is interesting you ask. jpmorgan did a very brief study that showed that absent the stimulus, that lower income households are getting we wouldn't have this 10% increase in consumption that we do. what is really strange, if you dig into the numbers, the bottom third of income earners in america, their spending is only bun 1.8%. that compares to the top third of income earners down 11%. they are more concerned about the slow down ramifications. you're seeing very little damage because of this huge amount of stimulus been in the pockets of the lowest income earners. we're hearing that the gop may go from 600 a week to 300 week in extra unemployment insurance. we'll see how that plays out. i think you would certainly have to see an extension of rental moratoriums put out, or you will have evictions and car repossessions, not the kinds of headlines you want to see with

three months until an election. stuart: it is intensely political though, isn't it? it is not just a economic question. do we need stimulus? this is politics. we're 106 days from the election, i don't think washington can resist the temptation to spend some money on the constituents who may be voting for the two parties. it is political. >> as mick mulvaney just said, it is, it is things such as infrastructure spending that are going to the get economy on a long-term better path as opposed to just trying to throw too much money in the stimulus f you look at what the gop is right now, one, 1 1/2 trillion compared to what the house bill originally was, 3 1/2 trillion, that two trillion dollar gap that is being conservative, that can be a lot of backbiting, a lot of infighting over the next three weeks, for us, i don't know, look forward to. stuart: you saw my interview with mick mulvaney a couple moments ago. i was surprised he said he would consider a gas tax an increased

gas tax. does that surprise you? >> i mean, any kind of increased regressive type of tax in this environment does surprise me, because again you have the lowest income earners are most vulnerable. they would have to stomach such as that immediately. again, these are, because so many economies are shutting down anew you have to bear in mind that of no fault of their own many small business owners, many restaurants are having to close their doors again and people are having to go from being furloughed to being permanently laid off. it is because of a patchwork response to the coronavirus. had the state of texas, for example, put out the mask mandate earlier we probably wouldn't have seen as many companies, small businesses, great, hard-working americans have to close up shop once again. so i'm hoping that governors around the country are learning from this, so that we can make

sure we keep as many companies open and up and running by saying you know what? if it requires a mask to keep our employees employed, so be it, let's go there. let's reopen the country. stuart: if it takes mask and social distance to get economy going again, i will wear a mask and i will keep my distance. so will everybody else. >> absolutely. you will keep americans in business. stuart: danielle, thanks very much indeed. good stuff. >> thank you. stuart: top nfl players speaking out against the league what seems like a coordinated effort to push for better virus protection. will this derail the professional football season. that is good question for you. sure looks like it. california pastors suing the governor of that state for banning singing in churches. what is wrong with that? you can chant at a protest, you can't sing in church? i don't understand that. i will be speaking with one of those pastors later on this program today.

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stuart: if you got your money in technology stokes you're looking pretty good this monday morning. nasdaq is up 1.25%. otherwise if you got money in dow stocks you're not looking great. the dow is down just a fraction, 40 points. there you go. a bit more green on the screen that we saw 40 odd minutes ago. look at intel and ford. they have a deal of some sort. susan i suspect this is about self-driving cars, isn't it? susan: autonomous, yes. intel owned mobileye, leader with camera based technology, and self-driving vehicles to avoid any collisions, maybe eye works with 13 of the 15 biggest car companies in the world. think of tesla's autopilot and

gm's cruise. this self-driving autonomous first in the f-150 and mustang mach e and even the new ford broncos. no terms were released this is win for intel which bought mobileye in 2017 for over $15 billion. i know what you're thinking, stu, where will i see the self-driving cars with locales and city by city? last five or 10 years. probably any car that drives on its own, we're looking 15 or 20 years. stuart: i'm glad to hear you're realistic, susan got it. talk football for a second here, top nfl players what they say virus safety protocols for upcoming season. ashley, this does not look for the season. ashley: as you would say in your old part of the woods, stu, trouble at mill. some nfl are not happy with the

safety protocols, some of the biggest stars indeed. look at some tweets sent out. tripping camp due to start at end of the month. this from russell wilson, qb of the seahawks. he said, i am concerned. my wife is pregnant. nfl training camp is about to start and there is still no clear plan on player health and safety. we want to play football. but we also want to protect our loved ones. hashtag, we want to play. saints quarterback drew brees says we need football, we need hope. the nfl unwillingness to follow recommendations of their own medical experts will prevent. if the nfl does not do their part to keep players healthy there, is no football, it is that simple. get it done, nfl. another one, defensive end of the browns, myles garrett. this is simply put. he says if the nfl doesn't do their part to keep players healthy, there is no football in

2020. it is that simple. #we want to play. there is obviously very unhappy folks. some of the league's biggests stars, patrick mahomes, very itch quarterback of the chiefs basically saying the same thing, stu. stuart: you and i are extraordinarily americannized, totally so, those old english expressions comb out, there is trouble at mill. how about bob is your uncle? ashley: bob is not your uncle with the nfl. stuart: well-done. ashley: thanks. stuart: look at this, another sports legend, golf legend, jack nicklaus, announced he and his wife had the virus in the month of march. they have recovered. just watch this. >> we were very, very fortunate. we were very lucky. you know, barbara and i are both of the age, both of us 80 years old, that at risk age. stuart: he is 80 years old as he

said. they stayed, the couple stayed at their home in florida over a month. they got over the virus. nicholas was at his course in ohio for the memorial tournament. that was yesterday. there he is. gyms, you know, all across the country, multiple states, gyms are out of business, closed down. i want to bring in andrew al alfano. the ceo of retrofitness. andrew, thank you very much for coming on the show. i think your industry is in tougher shape these days. you have a hardcore of people who really want to come back. there is a lot of other people who are kind of reticent coming back to the gym. you feel industry is right in the middle of the turning point right here? >> yeah. well, i actually think we're not at a turning point. we have far too many states that have not recognized what the federal government recognized early on, by putting us in phase one as a essential business. people don't recognize that, or

remember that i should say. i'm actually here today at the retrofitness in ronkonkoma. our franchisees are gym owners. this gym has been closed 126 days. when you think about the opportunity the fitness industry has, retrofitness is certainly a leader in the industry, to work in partnership with the governors we really believe the gyms are not the problem. as a matter of fact we really see gyms and fitness in general can actually be a big part of the solution. stuart: it seems like your business business been taken out of gym and put in the home. peloton's stock, they have gone from 25 bucks to 65 bucks because people are taking the gym to their home. i don't know how you're going to counter that trend. >> i with would tell you that when i arrived here today, when they saw the lights go on, there has been a line of people

non-stop over the last hour, thinking that the gem hopefully reopened. i would share that peloton and at-home solutions are good for the industry, anything that helps people get healthy, right? at the end of the day, being fit, being healthy, exercising that is probably the best platform to help ward off viruses, specifically the coronavirus. but reality of it is, your local gym, your hometown gym, like retrofitness, most gyms out there actually individually owned and operated like all retrofit necessaries, they are helping to free the community. beyond physical health, beyond mental health. people want to get back to the give. as a matter of fact, in new york and new jersey which have not recognized fitness and exercise being essential, as a matter of fact in new york, we're not even part of phase four. there is no phase five. however in pennsylvania, they were smart enough to recognize that gyms are in fact essential and we are monitoring check-ins

of people that live in new jersey that are crossing the state border because they want to get their workout in. beyond their workout, they want to be part of the community. it is part of the physical health. it is part of their mental health. reality of it is -- i'm sorry, go ahead. stuart: i'm almost out of time. i want to encourage you to keep pressing the point. because i think you are a vital business. small business people who operate gyms like retrofitness deserve to be supported. keep pressing andrew. you have got to do it. keep pressing. thanks for being on the show this morning. >> thank you. stuart: let's get to the couple in kentucky, forced to wear ankle monitors. they're under house arrest, because, they refused to sign quarantine paperwork s that constitutional? you know who is going to talk about that? judge napolitano. he is next. should popular video app tiktok be banned completely any will talk to one congressman leading the charge. he is coming up.

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stuart: get back to the couple in kentucky, they have to wear ankle bracelets because they wouldn't sign quarantine paperwork. i want to know the legal status of that kind of thing. who better to ask than fox news

senior judicial analyst, the man himself, the judge. is it constitutional, judge? >> no, it is not constitutional. it is not lawful. how i wish i had been the judge in this case except there was no judge in this case. there was no hearing. so the first reason it is unconstitutional is, they were punished without due process. the second reason it is unconstitutional is, as is happening all over the country, stuart, the governor made up a regulation and assess ad penalty. that is not the job of the governor. that is the job of the state legislature. you can't be the author after law and the enforcer of the law in the united states. that is what the governor of kentucky is doing to these people. stuart: presumably, i don't think anybody will happen. it will just go on as before, won't it? >> you know, they might luck out if they appeal so-called decision in which a penalty was imposed to them without a trial. then again they might not.

sad to say, most judges, who have looked at this disa -- draconian behavior looked the other way. stuart: i want to raise a serious issue here, the husband and son after federal judge in new jersey have been shot. the son sadly did not survive this is extremely serious thing when you have a federal judge's family attacked like this. what do you have to say on this, judge? >> first of all, i'm crushed by this since i know judge salas. she was a great trial lawyer. she is a great judge. she will continue to be a great judge. this is tragedy of monumental proportions. this was an assassination attempt on the judge. the son and the husband obviously were not the target. this is a grave, grave depth to which society has sunk. if federal judges can't live peacefully and peaceably in their home, and can't go to the front door. it is untangling of a civil

around legal society. >> well, it is the untangling of the beginning of other anarchy or total. he was wearing a fedex uniform. almost inconceivable he was a fedex worker. this probably involved others t was probably a plot and the plotters are still afoot. stuart: it is a terrible thing a very, very dangerous thing. judge napolitano, thank you for being with us. >> of course. stuart: did you see this earlier, joe biden leads the president by 15 points in the latest poll? last time pollster doug schoen on the poll he said biden's lead isn't as big as it seems. does he still feel that way? he is on the show next hour. growing calls to tax the rich. some billionaires, say, please tax me more, tax me more.

if you think it ends with the rich, stay tuned for my take which is next find your keys.

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just when you need it. learn how homeowners are strategically using a reverse mortgage loan to cover expenses, pay for healthcare, preserve your portfolio, and so much more. look, reverse mortgages aren't for everyone but i think i've been 'round long enough to know what's what. i'm proud to be part of aag, i trust 'em, i think you can too. trust aag for the best reverse mortgage solutions. call now so you can... retire better stuart: all right. it is indeed 11:00 in new york city. we've got a very small loss for the dow industrials but a very significant gain for the nasdaq composite. it's up well over 1%. do check the big techs for us, please. all of them at this moment are in the green. that is helping the nasdaq which is actually on track for another record close. amazon, alphabet, microsoft, you name it, big tech, up.

check astra-zeneca. they received positive results in an early human testing trial for their vaccine. the stock, though, is down just 70 cents but it is down. in contrast, biontech and pfizer are both up. they, too, reported positive results from their vaccine, which showed, by the way, it's safe and induced an immune response in all the patients that they were treating. pfizer up, biontech up, positive news on the virus. really not helping the dow that much. now this. the first time i heard the expression was back in the bill clinton era, the rich should pay their fair share. we've been hearing it ever since. it's really made a serious comeback as the left continues its takeover of the democrat party. it's been blended into the debate about income inequality. it's a populist message designed to stir up resentment against

anyone who makes more money than you do. it is pure politics. but the left puts an economic spin on it. take money off the rich, they say, and you create jobs and higher incomes for the poor. i think that's a stretch. but they use it to make the seizure of your money somehow palatable. i watched an interview with abigail disney the other day. she's one of the heirs to the disney fortune. she's part of a group who demand much higher taxes. she's rich herself. tax me more, she's saying. she was asked an important question. what should be the top rate of tax? she did not answer. i think that she and others who share her views do not want to admit they're okay with the government taking half your income. it's not just your income that the left wants to get their hands on. it's your assets, too. senator warren wants to confiscate a portion of your wealth. you've got too much.

seize a bit of it every year. that's what she's saying. senator warren is said to be a front-runner as a vice presidential candidate with joe biden. now, you can argue all day long about who will actually pay these higher taxes. is it just the rich, or does the middle class get hit, too. there will be a lot of debate about that. but surely, there is surely no debate about the impact of huge tax increases. they will hurt the economy and kill the stock market. so the next time you hear that fair share argument, just try to figure out who actually will be asked to pay up and what it would do to you, your job, and your investments. and ask yourself why should any government take more than half of anyone's income. in my opinion, that is just plain wrong. the third hour of "varney & company" is about to begin.

stuart: taking more than half your income is just plain wrong. who better to react to that than stephen moore, a member of the president's economic recovery task force. am i on the right track, stephen? >> well, you are. i mean, by the way, i also watched that interview with abigail disney and she was asked, look, if you want to pay more taxes, why don't you. you've got a lot of hypercritical -- she said well, everybody should. look, the fact is, on your tax form, the last line says if you want to contribute more to the treasury, fill out the amount. none of these hypocrite:they call themselves patriotic millionaires. if they're so patriotic why don't they pay up. we won't get out of this economic crisis by raising taxes on businesses. if you look at the top 1%, those people who are in the

millionaire category, do you know two-thirds of them own, operate and invest in small businesses. somebody out there tell me how you are going to get more jobs in an economy when you want to tax the very businesses and employers that create the jobs in the first place. stuart: good question. good question. answer this one. if they get their way, and tax rates are raised, et cetera, et cetera, is it just the rich, the 1% who will pay, or will it bleed down into the middle class? >> always does. you are spot on this. every time we raise rates, you know, on the top, then what happens they realize oh, there's just not quite enough people at the top to get all the money we need so the rates go up for everyone. this is a trap. incidentally, if you look at biden's plan, i know you have been talking about that the last couple weeks, not only does he raise the corporate tax rate by almost a third, but he also raises the small business tax, he also raises the capital gains tax from 24% to 40%, that's something like, what, a 60%

increase in that tax, and then people don't realize this, nobody's been talking about this, stuart, but did you know there's also a 40% increase in the estate tax on many people. so when you die, after paying all these taxes, you have to pay on unrealized capital gains. that's never happened before in the history of this country. stuart: just a minute left. here's the question. we've got news this morning that the economic rebound is slowing a little. it's not quite the sharp v. do we need any kind of stimulus package? >> so the most important thing i have been saying over and over again on your show, do not continue with these $600 a week unemployment benefits. they are keeping people out of the work force, four in five workers are getting more money being unemployed. that's a big problem for employers and for workers. second thing, just suspend the payroll tax for the rest of the year. every single worker, you and me and everybody working at fox

news gets a 7.5% pay raise, every one of the first responders, every nurse in the country, every sanitation worker, all the heroes of the economy get a pay raise. that's a great way to stimulate the economy. stuart: well said, stephen moore. come back and say it again at some point in the very near future. thank you, sir. see you soon. all right. now, state and local governments, talking here about raising taxes, well, state and local governments, some of them want to raise your taxes at the state level. edward lawrence, you have been looking at this. who wants to tax the most? do you have that number? reporter: yeah, we are working on getting exactly who wants to tax the most but some of the states in trouble, california and florida. i'm trying to get my fair share of time on your show here. now, the government numbers last month for job growth, 33,000 jobs created in the government but hidden within that is a $25,000 loss or 25,000 job loss at the state level. so you have with the shutdown, no tax revenue, for sales tax,

no revenue coming in. states are in a real bind. look at texas. texas, for example, was considered one of the healthiest states in the nation before the pandemic. they are looking at a surplus at the end of the year. now they are looking at a budgets deficit. this is why. tax revenue dropped $650 million in june alone. florida, looking at numbers the same, losing $695.4 million in tax revenue in may. june numbers are not out yet. state of new york has seen a $1.5 billion decline in tax revenue from june 2019 to june 2020. in fact, governor cuomo last week pushed the idea of a national tax increase because his argument was if he just raises taxes in new york, people will just move to connecticut and get the lower taxes. you are starting to hear this grumbling of states saying we need a tax increase, many holding on to see if they can get a bailout in the next cares act. stuart: here it comes. here it comes. you can see it coming in the distance, can't you. edward, thank you very much indeed. now, we will do something which i'm going to do frequently

on the show. i have done it in the past and will do it again in the future. what you're looking at is sixth avenue, slap bang in the heart of midtown manhattan. it is empty. still empty. by the way, it's going to be close to 100 degrees out there today so i don't expect to see any of those office workers appearing. what have you got on this, ash? ashley: it's phase four beginning today in new york city, but it's a little muted, a little modified. what's reopening? well, i can tell you allowing outdoor film production to resume. you see a lot of filming around new york city. that can start again starting today. professional sports can also resume and the zoos also can open back up. restrictions still in place, though. what restrictions. indoor dining in restaurants, museums remain closed and the malls, if you still go to a mall, they are still closed. by the way, we just got the latest numbers from the governor

andrew cuomo on hospitalizations in new york state. that number's coming in at 716. those are new lows, by the way, we are seeing on the hospitalizations which is very encouraging. but as i say, phase four begins today but still, with those reservations, with those modifications. stuart: well said. that's right. i just want to take a quick look at the airlines for a moment. we've got some interesting developments on how many airline passengers are traveling these days. we've got -- ash, have you got this for me? the latest numbers on tsa security checks. i believe they are down. have you got that for me? ashley: i can get it for you. i know they are down. we are down about 700, i believe, from the same sunday, about 7,000 less people traveled by plane on the sunday before. but you know, when you compare this, look, july 12th, 754,000. july 19th, which was just

yesterday, 747,000. that's a difference of 7,123. this is down about two million when you want to do year to year. so you know, this kind of reflects what we have seen. we have seen perhaps a slight stalling if you like of the activity, economic activity, and that's just another indicator. stuart: that's exactly the right way to put it. a slight stalling in what was otherwise a rapid expansion in various sectors of the economy. thanks, ash. the other side of the coin would be arkansas. statewide mask mandate goes into effect today. is that you, ash? you got it? ashley: yes indeed. yes. it takes effect today. all indoor environments where social distancing is not possible, you have to wear a mask and same goes for those areas outside. if you fail to comply, you get first-time warning, then you could be fined up to 500 bucks. there are exceptions. children 10 and under, also those people unable to wear a

mask because of medical conditions or physical disability. but governor asa hutchinson for months, the republican governor of arkansas, has refused to issue the mandate but he said he changed his mind after talking to front line health workers and he says there should also be a national mandate so he's kind of making a plea, if you like, to the trump administration. more than 25 states now have issued some sort of mandate regarding face masks. stuart: yeah. the mandate, the mask mandate, so to speak, is really spreading. i think there's some major retailers are jumping on to this as well. susan, do you have that story? susan: talking about walmart, kroger, target, costco, lowe's, best buy, the biggest six retailers in the country, enforcing masks even in states without a statewide mask mandate. the retailers will take different approaches to enforce these new policies from stationing an employee by the door to handing out free masks.

walmart's case, the store's new health ambassador will be wearing a black polo and standing by the door to check on customers. home depot and target will give out free masks to those that don't have one. many shoppers are encouraged to shop in different ways. if you want to not wear a mask, that includes curbside pickup. employees at these stores as well as customers have expressed concern about the lack of mask wearing indoors. grocery unions reported 7 out of 10 of their members have not -- of employers have not enforced mask wearing and nearly 300 members of the grocery unions have died, 30,000 exposed. they want these new rules mandated. stuart: i think they probably will be, susan, with numbers like that. that's for sure. all right. thanks. another mask story, this time from disney world. they are banning eating and drinking while walking. that's in disney world. is that right, lauren? lauren: disney world in florida. yeah. you cannot eat and drink while you're walking at the theme park because when you do that, you

remove your mask. florida has seen a tremendous surge in infections so disney is making one exception to this new rule. if you want to eat and drink, you have to be stationary, likely seated and physically distanced from someone else, at that only time can you remove your face mask to take a drink or bite to eat. look, it's all about safety. i don't know about you, but when i go grocery shopping, i am not a person who tastes the grapes to see if that one is good, the whole bag will be good. there was a sign, i have not done that during covid, but it was actually a sign at my local food store, do not taste the grapes during covid. the point is, every company wants you to wear your mask at all times to protect yourself and to protect themselves. stuart: it's not just -- lauren: no more tasting of the grapes. stuart: it's not just the mask wearing. it's the touching of something. don't go through the produce store and touch the lettuce and put it back and touch the grapes and put -- don't do that. you shouldn't do that.

that's not good policy. lauren: keep your germs out. stuart: yeah. right. thanks, lauren. lauren: i don't anymore. stuart: let's talk tik tok. it's not popular. supposedly a security threat. can you actually ban it? i mean totally just ban it in america? i've got a congressman on the show who is up for the challenge, so to speak. he will make his case. he's on the show coming up. banning tik tok completely. we will discuss. president trump surrounding the alarm on joe biden and the radical left. watch this. >> biden wants to come in and ruin our country. he will destroy this country. but it won't be him. it will be the radical left. stuart: how much influence does the far left or radical left really have on joe biden's campaign? we will discuss it after this. ♪

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stuart: yes, sirree, we are a little over 100 days from the election and we have the latest polling numbers from fox news. here we go. it shows joe biden is keeping his lead over the president. i'm going to put it on the screen any moment now. the gap has been narrowed somewhat compared to last month. there, on your screen, there you go. 49-41, biden leading trump. that's the fox poll. however, here's a real shocker. biden is the one who voters trust more on the economy, not the president. that's 44-43. doug schoen is with us, former bloomberg and clinton pollster. you are still a democrat, of course.

>> i am, absolutely. stuart: in the past, you have said you don't trust the polls, they exaggerate the lead that joe biden may have. you still feel that way? >> i think somewhat. i think there have been a number of polls that have had it a double digit margin, as high as 15 points. i don't believe those for a second. i believe it's about an eight-point race as the fox poll shows. i also believe, stuart, that it's going to tighten as election day approaches. the race will become more of a choice rather than a referendum on the president. stuart: why would the poll numbers narrow as we get closer to the election? >> because there are a number of voters who i think for reasons we can well understand who are dissatisfied with the fact that coronavirus is not under control, that the economy as you were saying is stalling. they hold the president accountable, rightly or wrongly. once they see the choice between

biden and trump, it's a different dynamic and a different type of choice. stuart: okay. i want to play for the audience what president trump had to say about the biden campaign and the influence of the radical left. watch this. >> if joe biden got in, first of all, he won't call the shots. the people, the radical left people that surround him, he will destroy this country. look, it won't be him. it will be the radical left. the same type ideology that took over venezuela, one of the richest countries in the world, they now have no water, they have no food and they have no medicine. stuart: well, doug, you are an insider. you have worked on the campaigns of really top level democrats for most of your life. who do you think really -- i mean, does the radical left really have that much influence on joe biden? >> i think they have some and i think the problem that we see as democrats is that our party is divided between a moderate wing which is i think broadly

acceptable, certainly includes me, and there's radical wing which has done very well in primaries, particularly in states like new york and texas and even kentucky. so the party's divided and i think if that case is made, that will help get wavering independents and republicans back into the gop column. stuart: did you see that elliot engel, a 14-term liberal congressman from new york city, lost his primary in a challenge from a total unknown and very progressive guy, jamal bowman? i put it to you that the influence of the squad, the extreme progressives, is really growing fast within the democrat party. >> stuart, i agree with that. i was one of those who worked for elliot engel for a number of years. n i know him well. he's a moderate to liberal democrat. he was beaten by a far left democrat of the aoc variety. if you look at the results

around the country, as i was saying, even in the texas and kentucky senate primaries, the radical left candidates got 47%, 48% against establishment moderate candidates. so this is a huge opportunity for the trump campaign to exploit, one that i think will hurt biden in the fall. stuart: aoc has influence with joe biden. i think she almost, not totally, but in part wrote his green plan. >> that's absolutely true. if you take what she and others have said about defunding the police as an example, stuart, it's very scary that my party which has been trending left for a long time, as you and i have discussed, is now moving frankly in a hard left direction in a way that i think is contrary to the interests of the democrats and indeed, america more generally. stuart: you haven't left the

party yet but the party has left you. i think that's accurate. >> stuart, it's leaving me every day. it's moving further away. frankly, taxes are one of the reasons why i have headed south and am now based in florida for the foreseeable future. stuart: that's the revelation i was waiting for. >> well, it's the truth. taxes are going up and i'm doing the best i can both to stay safe and to stay economically stable. stuart: okay. got you. doug schoen, thank you very much indeed. >> always a pleasure, stuart. stuart: colleges, well, college, i should say, coming back soon. a new survey says students want to be on m ka pus. with schools like harvard moving to online classes only, students are considering a different option. we will tell you what that option is. first, tik tok, under pressure. congressman wants to ban the app completely.

we will be talking to the man leading the charge to ban it. can you actually do that? that's after the break. ♪ introducing stocks by the slice from fidelity. now you can trade stocks and etfs for any amount you choose instead of buying by the share. all with no commissions. stocks by the slice from fidelity. get your slice today. to listen, is to hear more than what's being said... and offer the answers that make someone feel truly heard. i understand, let's get started call a dell technologies advisor today. hey, our worker's comp insurance is expiring. should i just renew it? yeah, sure. hey

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stuart: right now in the oval office, there at the white house for you, right now the president is meeting with mitch mcconnell, senate majority leader, kevin mccarthy, house minority leader. they are discussing the new stimulus package, what may or may not be in it. there will be a tape on this from the president. we will bring it to you as soon as we possibly can. on the discussion right now. overall, the markets are a strong performance by the nasdaq, technology stocks doing very well. and we have the dow industrials down just a few points, 40 points down. look at that nasdaq go, up 140 points. 1.3%. big tech is doing well today. look at alibaba. you could call this a technology stock. it's really the amazon of china. it's going straight up, 3% gain. that's a big gain for that stock. susan, can you tell me why? susan: it looks like hong kong

and shanghai have won the listing so it side-stepped new york for this mega-listing. it's worth around $200 billion according to private rounds of funding. this could be a $20 billion or more ipo since the listing will float around 10% to 20% of the company's stock. that's also $100 million plus in investment banking fees that new york will miss as well because it also draws more money into hong kong and shanghai at a time when capital is actually leaving hong kong over concerns of the new national security law. this is a boon for chinese stock market. remember in 2014, alibaba had that record-breaking new york stock exchange ipo of $25 billion. this time it looks like jack ma, richest man in china, is listing closer to home. stuart: the stock is up. alibaba reaching $254, pretty close to its all-time high, i think. susan: yes. that's correct. stuart: let's talk tik tok for a second. it's a chinese-owned social media app. our next guest wants to, i

think, wants to restrict it or maybe even ban it completely. congressman ken buck, republican of colorado, is with us. congressman, do you want to ban it completely? ban tik tok? can you do that? >> the bill that i have introduced along with my democrat co-sponsor as well as republican and democrat in the u.s. senate, is to restrict, prohibit the use of tik tok on government phones, on government devices. that's all it does. if you are asking me in the best of all worlds, would i like to ban it, absolutely. it's an intelligence gathering tool being used by the chinese in what would ultimately be a cyberwar with the u.s. stuart: could you actually ban it completely? >> i think you can ban anything that's a national security issue. obviously there would be lawsuits over it. but i think when you are talking about chinese spying on the u.s., and using this as a spying tool, it is a national security

issue and it can be banned. stuart: can you get a vote on your bill? >> we will get a vote on my bill. the amendment that i have offered through the national defense authorization act has been -- will be voted on in the next couple days. i believe it will pass. i believe it will pass in the senate. stuart: we will follow through on it. sir, thank you very much for being on the program today. >> thank you. stuart: thank you. we just received it. the president's tape from inside the oval office. let's listen. >> -- i figured let you come in, you will look and you will see we have a lot of good things happening. we have tremendous progress on vaccines and therapeutics. we're getting reports, we're studying the reports very closely. i think people are going to be very pleasantly surprised with what's going on with the vaccine front and the therapeutic front and that to us is always the first topic. secondarily but very importantly, we are working and negotiating with the democrats on trying to get a plan that

helps small businesses, helps people, helps this country, and i think we made a lot of progress on that, and the discussions are going on. steve, you want to say a few words as to where we are? >> yes, mr. president. mark and i have been working very hard over the last two weeks with mitch and kevin on really what we see as the focus is kids and jobs, the recovery act, cares 4.0. we have spent an unprecedented amount of money. the good news is a lot of the $3 trillion we still have left to put in the economy and put back to work. we are focused on starting with another trillion dollars, we think that will make a big impact and the focus is, as i said, is really about kids and jobs and vaccines. we are going to make sure that we have a vaccine by the end of the year for emergency use and the plan is we just updated the president and the vice president, they signed off on this, mark and i will be meeting tomorrow with the republicans at the lunch to give them a full briefing and then we will also be reaching out to the democrats

to begin our discussions. but we are committed that by the end of this month, make sure that before the enhanced unemployment insurance expires, that we pass legislation so that we can protect americans that are unemployed. we have said the number one issue is we have to fix the technical fix on an enhanced unemployment. we are going to make sure that we don't pay people more money to stay home than go to work. we want to make sure that people who can go to work safely can do so. we'll have tax credits that incentivize businesses to bring people back to work. we'll have tax credits for ppe, for safe work environment and we are going to have big incentives, money to the states for education, for schools that can open safely and do education. so these are the priorities as well as liability protection. we want to make sure that frivolous lawsuits don't prevent schools, universities and businesses from reopening.

>> mike? >> well, mr. president, i just want to say how much we appreciate the leadership in the house and senate. today's conversation is a continuation of your commitment to do whatever it takes to get the american people, american businesses and communities through this very challenging time. the outbreaks across the sun belt are serious but because of the support that we've had from frankly leaders in both political parties, in the congress of the united states, we are meeting this moment with expanded testing, personal protective equipment and as you said, mr. president, with the development and distribution of therapeutics and a rapid development of vaccines. that will all continue but it's important that the congress come together and provide additional resources for families that have been impacted, businesses that have been impacted.

we'll make sure our health care workers in our states have the resources that they need but also, mr. president, we are going to continue to advance policies that will make it possible for us to open up america again and open up america's schools. and i look forward, i know as you do, in working with leaders that are gathered here and members of congress in both political parties to deliver another important element of a recovery package that will keep on working until we bring our country all the way back and reach that day that we some day put this coronavirus in the past. >> okay. mitch? >> yeah. tomorrow begins the process of socializing what we have been discussing with the administration over the last two weeks with our members and if you're looking for a theme here, think liability protection for those who have been trying to deal with the pandemic. we don't need an epidemic of

lawsuits on the heels of the pandemic we're already struggling with. kids in school, jobs and health care will be the theme of the proposal that we hope to come together and present to our republicans and then as the secretary of the treasury indicated, obviously you can't pass the bill in the senate without the democrats and we will again talk to them as well. >> kevin? >> yes. just to sum up what we're looking at, if you are sitting at home and you're concerned that you don't have a job, we want to make sure you're able to come back. we don't think any federal money should be spent that gives you a disincentive to work. we want to have incentives to keep going. for small businesses, we want to make sure you can stay open. we want to make sure your kids can go back to school safely not just for the children but for the teachers as well. we continue to make strides to make sure we get to a vaccine and we find a cure for this virus that we did not invite, that came from a foreign land. i think that's the focus that we have to be part of. mitch talks about, and i think it's fundamental, not just for

schools but for any businesses striving whether they can open back up or not, they should not have an attack from any salut lawsuits. we need to have protections to rebuild, restore and renew this country to where we were before and i know we can do it together. that's why we're working here. we will be reaching out to the democrats and i hope for that moment in time, they put politics aside. when you look at one nation, that we don't sit back and a minority denies the ability to have this debate, denies the ability to help america unite and solve this problem once and for all. we are making great strides when it comes to therapies. what this warp speed, history will write about this. this is a moment in time that we have this vaccine, they will write about how fast it would and no other country could do what we did because the ingenuity of this nation. that's the focus of what we are trying to do. the safety of this country for our students, for our teachers, and for our businesses and we are back to work again stronger

and safer and more united. >> it came from china. it should have never been allowed to get out. they could have stopped it. they could have stopped it easily. they chose not to. and we'll have further reports on that. it came from china. they could have stopped it. they didn't. they stopped it from going into china but they didn't stop it from going to the rest of the world. they didn't stop it from going to europe, to us. they should have stopped it. they could have stopped it. they weren't transparent at all. they were the opposite. not good. i spoke with the president of france this morning and i spoke with -- i spoke with the president of egypt and we had a very very good conversation both of us, and all of us and all of us together have had many conversations with leaders all over the world over the weekend and over the last couple of weeks in particular, and this is a pandemic that is flairing up

all over the place. countries thought they were in good shape and then all of a sudden, they have big flareup. i see that over the weekend, i guess on friday, there was a record worldwide number of deaths, worldwide, because when you watch the news, the local news, and you see it, and it's like all about the united states. they never like to talk about what's going on in the world. but you look at mexico, brazil, many countries in europe, many -- all over, russia, russia's got a tremendous probl problem, what's going on is terrible. it's terrible. but this is a worldwide problem. and we are helping the world with ventilators, we're helping a lot of countries, they don't have ventilators, we are sending thousands of ventilators to different countries. but i do want people to understand this is a worldwide problem caused by china but it's a worldwide problem. countries are going through hell and it's going to -- we're going

to give you a lot of briefings in the next week and over the next few weeks as to i think it's very important to do it t vaccines and the therapeutics. i think i'm going to bring some of the great companies that are working and very successfully in the past have worked on these things and they're going to tell you very specifically what they're doing and how they're doing. but we think we're doing very well in that regard. those two items, i think frankly, therapeutic, i like almost better at this point. you go in and you make people better. now, we have had some very good luck with remdesivir. that's been successful. and others have been successful. the plasma has been successful. but we are -- we are really coming up with some very good answers, meaning they are. all over the world they're working and we're working very closely all over the world on the vaccines and the therapeutics so we're going to have some of the heads of these great companies coming in,

johnson & johnson is doing very well in particular. they seem to be doing very well. but numerous are doing very well. it's something that i really feel certain i guess you could never use totally certain, but pretty damn certain that they're going to have the vaccine, they're going to have therapeutics and it's going to start taking place very shortly and that will be a great thing for the world. that will be a great thing. but this is happening all over the world. not just the united states. and it's a tough one. very tough. very sad whether you see the death. it's all death that could have been stopped by china. if they wanted to stop it they could have stopped it. okay. thank you very much, everybody. thank you. reporter: how important, mr. president -- >> thank you. press, thank you. >> what? reporter: how important is a payroll tax cut? >> very important. i think it's a very important thing. 's t it's very good. it's been proven to be successful. it's a big saving for the

people. it's a tremendous saving. i think it's an incentive for companies to hire their workers back and to keep their workers. payroll tax cut to me is very important. we are working on it. i don't think there's too much dispute as to the level of importance. it's a very important thing. okay? that's one of many elements we're discussing. we're discussing probably a total of ten different elements but payroll tax cuts are very important. all right? reporter: [ inaudible ]. >> absolutely. i think hopefully we'll get there but we're talking about a la lot of things, not just the payroll tax. reporter: are you bringing back the coronavirus briefings? do i understand you correctly? >> well, we had very successful briefings. i was doing them and we had a lot of people watching, record numbers watching. in the history of cable television, television, there's never been anything like it. and we were doing very well.

and i thought it would be sort of automatic and lot of positive things were happening and frankly, lot of the country is doing well, lot of people, as you understand, but we have had this big flareup in florida, texas, couple of other places, and so i think what we're going to do is i'll get involved and we'll start doing briefings. whether it's this afternoon or tomorrow, probably tomorrow, and i'll do briefings. as part of the briefing, i think much more so than last time because last time, we were nowhere with vaccines or therapeutics. let's say that ended six weeks ago. we'll start them again and i think it's a great way to get information out to the public as to where we are with the vaccines, with the therapeutics and generally speaking, where we are. so i think we'll start that probably starting tomorrow. i'll do it at 5:00, like we were doing. we had a good slot. and lot of people were watching and that's a good thing. i think kayleigh will continue

hers at 11:00 just like they were and i'll be discussing as i call it the china virus, the china plague. i'll be discussing it. and i'll also be discussing perhaps some other things. but we're doing very well in so many different ways but unfortunately, this is something that's very tough but we are going to get it solved. i think we are going to get it solved in numerous ways but the two best would be vaccines and therapeutics. so we'll be happy with that. reporter: on portland and other cities that are experiencing violence, there was a report out this morning that you are considering sending 175 federal troops to these cities to help local law enforcement. can you fill us in on that? >> depends what your definition of troops is. we are end sing l ingsending la. portland was totally out of control. the democrats, liberal democrats running the place had no idea what they were doing. they were ripping down for 51 days, ripping down that city,

destroying the city, looting it. the level of corruption and what was going on there is incrediblecrle.cr e theoverer cno out w e n't do adonyeddop.ed out chag r rea rea tbe nrs werany my op kil ole ther thehe end.ekend.. we'r l'rooki lt achago, o,o, we'r loo aki ayone lookwh aatokwh gatoiwhatoin.ngog l ry b b b deatmo allll r by ryveveveeralibibibib mocrdes. all rualn reallyn baln alalal l but wbuettan't'this hpen t citiescitici neyork wyoas was up up 348%,34343434 c do has to ds o something about it. if the governor's not going to do something about it, we'll do something about it. but what's happening in new york, a place i love, i love new york and look at what's going on over there. the woman who was shot because she said could you please not light off firecrackers and they turned and shot her eight times and she died? that's not our civilization. that's not about us. and then the police are afraid

to do anything. i know new york very well. i know the police very well. new york's finest. the fact is, they are restricted from doing anything. they can't do anything. reporter: what are you [ inaudible ]? >> i'm going to do something. that i can tell you because we are not going to let new york, chicago, philadelphia, detroit and baltimore and all of these, oakland is a mess. we're not going to let this happen in our country. all run by liberal democrats. reporter: would federal law enforcement -- >> more federal law enforcement, that i can tell you. in portland, they have done a fantastic job. they have been there three days and they really have done a fantastic job in a very short period of time. no problem. they grab them, lot of people in jail, their leaders, these aanarchists. these are not protesters. people say protesters. these people are anarchists. these are people who hate our country. we're not going to let it go forward. tell you what, the governor and mayor and senators out there are afraid of these people.

that's the reason they don't want us to help them. they're afraid. i really believe they are actually maybe even physically afraid of these people. because what they are doing is incredible. we didn't just go there. this wasn't like it started right away. we went there after 51 days. said we can't let that happen anymore. but these are anarchists and the politicians out there yes, they are weak but they are afraid of these people. they are actually afraid of these people. that's why they say we don't want the federal government helping. how about chicago? would you say they need help after this weekend? do you know the numbers? did you hear the numbers? many many shot, many many killed. many many. i'm not talking about one, two. was it 18 people killed. i think more than that. and you add it up over the summer. this is worse than afghanistan by far. this is worse than anything anyone's ever seen.

all run by the same liberal democrats. you know what, if biden got in, that would be true for the country. the whole country would go to hell and we're not going to let it go to hell. thank you very much. stuart: there you have it. that's the president. he was meeting with top congressional leaders, talking about the next stimulus package. the main points that were made there is the administration wants to add resources for families and businesses affected by the virus. in other words, they are going to shell some money out there. they don't want any disincentive to work. that means they don't want to keep paying people to stay home because that encourages them to stay home. and they want to go at warp speed with a vaccine. earlier this morning, mick mulvaney told us they will pass something, whatever it is they pass it's under discussion right now. as the president was talking, the market actually moved up a little bit. you're looking at the dow industrials. now down only 32 points. we were down about 50 when he started to talk.

more importantly, big tech is on an absolute tear. it's been going straight up during the president's speech there. we have amazon up $163 a share. microsoft is up $5. google is up, i can see there, $39. we have facebook up $1.20, et cetera, et cetera. look at that. amazon up $163 as we speak. change the subject. the governor of california, gavin newsom, is banning singing at churches and other religious services. this is to stop the spread of the virus. now three churches are suing governor newsom. pastor scott thompson from one of the churches that is suing joins us now with his attorney, robert tyler. pastor, if i may, to you first. the governor is -- this is incredible to me. you limit religious practices like singing hymns in churches

but he's got nothing to say about challenging protesters in protests outside the church. it's like a dual standard, isn't it, pastor? >> absolutely. first of all, thank you, mr. varney, for having us on here this morning and absolutely, that's the basis of this, you know. there's a lot of fear that's out there, lot of fear and the thing people need right now is a place where they can find hope and where they can feel peace. you know, worship is essential for people to gather together. there's something that really happens when people gather together and sing and you know, we are safe in our congregation. we spread out, we comply with a lot of the different ordinances that come across but -- stuart: have you complied in your church? are you not singing hymns or psalms in your church? >> we are singing. when he shut down back in march, we complied with that.

when he opened back up and gave the 25% capacity or 100 people max, we complied with that. but when this one came across, this was a line in the sand and we said this is not something we are going to go along with. stuart: let me turn to your lawyer, mr. tyler. sir, what is the legal basis for the governor of any state telling church people you can't sing in your church? >> yeah. we don't believe he has any legal basis, first of all the establishment clause is applicable here. at no time in history do i recall the u.s. government ever stepping into a church and telling them how they can worship and that they cannot sing. you know, we have a mental health crisis ongoing right now that is just as significant as covid. covid, we have about 139,000 deaths. there was a study by the well-being trust that estimated based upon factors looking at the great recession of 2008 forward that we could have up to 159,000 deaths in the united

states from suicide alone. we have a real mental health crisis and these churches need to stay open and worshipping in church plays an important integral role to the mental health of our society. stuart: now, pastor thomson just told us that they are going to continue to sing. mr. tyler, what is the penalty for defying the governor's order to don't sing in church? >> yeah, you know, the governor can send in the chp to come and arrest these pastors. they could be fined. they will be cited. but you know, we have -- we represented over 1500 churches who were pastors that said we are going to stand up and defy the governor and we are opening on the day of penteco oshgpente 31st and the governor backed down. the pastors are saying you can't stop us to sing. stuart: last one, pastor scott

thomson, if i come to your church on sunday, i will hear you singing? >> yeah. yeah. hopefully you will hear me because our worship leader is much better than i am. stuart: gentlemen, both of you, we really appreciate you coming on board with the show this morning. i think you've got a very good point to raise right there. thank you, gentlemen. appreciate it very much. check those markets again one more time, please. we are down on the dow but boy, are we up on the nasdaq and not doing too badly on the s&p either. more "varney" after this. ♪ hey, can i... hold on one second... sure. okay... okay! safe drivers save 40%!!! guys! guys! check it out. safe drivers save 40%!!! safe drivers save 40%! safe drivers save 40%!!! that's safe drivers save 40%.

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>> how old is ashley webster? >> ashley webster is 119 years old. [laughter]. >> 119 years old? i don't believe it until i tried it. stuart: never trust siri entirely. >> my gosh. stuart: this is your birthday today. ashley: i'm 120. susan: wow. ashley: 120 years old, hey. how about that? that is the greatest gift every. i thank you very much. stuart: i'm jealous.

you have a full head of hair. i don't think you look a day over2. that is promise, ashley. ashley: thank you very much, stu. i don't look over 80. stuart: we wish you a happy birthday. we hope you come into work tomorrow. ashley: thank you. thank you. connell in for neil today . connell: if he is 120, thank you very much. you heard it live on "varney & company" a few minutes ago in the oval office with the president and leadership on the republican side of the congress. treasury secretary steve mnuchin for what that next round might look