in america not to be included in the s&p 500, that seems crazy, doesn't it? microsoft anticipation, they will continue to make money. it's a cash cow. that is what they will continue do. stuart: i sold too early. that is the way to go. i still have a bit of it left. connell mcshaken is in for neil today. connell, it is yours. connell: that is our show, "after the bell," look forward to microsoft and tesla. good to be with you everybody, filling in for neil once again. i'm connell mcshane on "cavuto: coast to coast." we're following stories all across the country today. in d.c., on the east coast there is a battle over drug pricing going on. we'll talk about vaccines. we'll also talk about treatment. the remdesivir rift. the back and forth between democrats in the congress over what was paid may have an impact on access you have to coronavirus treatments. in seattle we continue to cover the protests movement that has

been happening out there. we received word that officials are planning to close down a city jail in the middle of all of this. we'll talk about the timing. back here in the new york area, there are some in business who are now saying that new york city is among the worst places in this environment to do business. we'll talk about why. also talk about, when and how that might change. it is all coming up "coast to coast" on a wednesday. edward lawrence starts us off on the aforementioned drug price wars and vaccine developments. joining us live from washington. hey, edward? reporter: connell, pfizer says they will have 100 million doses of coronavirus vaccine by the end of the year. now the u.s. government has a deal to buy all of those doses from pfizer and biontech which they partnered with for that. federal government will pay $1.95 billion for all 100 million doses by december.

>> we have five vaccine candidates that prioritize the u.s. people where we're going to manufacture vaccine and work to secure fda approval of them all at the same time. reporter: and the u.s. has spread billions of dollars with the goal of putting america first for a vaccine. now for the coronavirus treatments, the government worked out a deal to pay gilead 2340 per course for the remdesivir. the same price foreign countries pay. that drug is helpful if preventing deaths. tammy baldwin, sherrod brown, chris van hollen, tina smith, that the u.s. should seize entire supply of the drug that the government gave gilead $70 million for the development of the medicine. azar says that would hurt innovation in the long run and the deal that was made puts americans first. >> we negotiated a historic

agreement with the maker of remdesivir where over the next three months, almost all remdesivir that will be produced in the world will be dedicated to the american people. half a million courses of therapy over the next three months. reporter: the government pays 2340 but the private insurance will pay $860 more than that. gilead says the only reason for that is by regulation, the u.s. government must get a discurrent on drugs over what it gives to the market. azar says the administration will back up any safety-net hospitals so if someone can't pay for the remdesivir, that they, federal government will step in and help them out. back to you. connell: edward lawrence in washington. the other group hitting back against elizabeth warren, bernie sanders and that group that edward talked about is the "wall street journal's" editorial board with a piece entitled, the raid on

remdesivir. jillian melchior joins us "wall street journal" editorial page writer. politicians want to confiscate this treatment that is saving covid patients. that is the editorial board this morning, jillian. pick up where edward and to some extent the health secretary left off on this debate. >> yes. i think we need to look at how the u.s. is a hub of medical innovation and why that es. the reason is because we reward that innovation. we encourage people to take risks and those big risks pay off. a lot of these drugs that go into clinical trials phase one, it is really rare for them to actually make it to the consumer. there is a vigorous process. no sure bet on medical development. you want to know at least you can recoup the up-front costs and also hopefully make a profit. so i think when you got, you know, lawmakers threatening to confiscate this, down the road it will be much more difficult for pharmaceutical companies to take the risks on the moonshot drugs that we really need.

connell: because i think when regular consumer sometimes sees just a dollar amount value on a drug, there is a sticker shock associated with that, boy, that is way too expensive. so then they read a story, they say, well these politicians, they're trying to help me. they want me to pay less. your point that doesn't necessarily always work out that way. >> yeah, absolutely. you have to look not just what is happening with covid but particularly with research diseases how you treat them. you want medical companies to be taking big risks on conditions that don't affect a lot of people? i think there is reason why the united states is able to quickly respond. why we have so many promising vaccine candidates. this is building on decades of medical research. all of those things cost money. it is all risky to participate in, but potential payoff is huge f you remove the potential payoff people will just not take the risks. connell: all these companies,

many of them, which we're flashing up, their stock prices on the screen, many of them are the ones working on these vaccines. to your point, a lot are making a lot of progress we heard about in recent days. jillian, let me switch gears. let me talk about politics. this week, you never know, there may be a time we look back in november there was a week where we saw a change of tone or change in the tune from president trump and that was in, i guess in practice yesterday at that briefing when the briefing came back. let's listen to a little it what the president had to say. we'll talk about the point a little more. here he is. president trump: our goal is not merely the manage the pandemic to end it. we want to get rid of it as soon as we can. it will probably unfortunately get worse before it gets better. we're asking everybody when you are not able to socially distance wear a mask, be safe and be smart.

connell: so, you know, president's supporters, white house can say whatever they want, that is a different president than we saw a few months ago. you know, just on the mask point, for example, was not promoting wearing of masks. now he has come around on masks. what is the significance of this, and does it change at all the campaign in the fall, do you think? >> you know i hope it does. this is not just a problem for republicans. this has been a problem for democrats too. the idea that our leaders, people speaking out about this virus have not been consistent or very direct with the american people about what we know and what we don't know. there is a inconsistent message. not a lot of humility about that. this is food step, that a lot of science supports having a mask is a way to reopen. a good way to start engaging in economic activity, be respectful of the risk you pose to other people. i hope we stay consistent with the message. i hope politicians on both sides

are able to be honest and direct about what we know and what we don't know. connell: right. may have helped if it came earlier but the point is it is here now. jillian melchior from the journal. the other thing the president and the administration is certainly dealing with, relations, lack thereof between the united states and china. big development overnight with the united states ordering the chinese to close down their consulate located in houston. rich edson covering this, fox news, joins us live from the state department with the very latest. rich. reporter: good afternoon, connell and the chinese government has 72 hours to evacuate their consulate in houston this is a significant diplomatic step by the united states. state department officials say over the past few years the chinese government has markedly increased its spying activity across the united states. secretary of state mike pompeo is just returning from a trip to europe. he was in denmark today, the uk yesterday. the latest in a series of u.s.

officials meeting with allies to counter china's government. >> setting out clear expectations how the chinese communist party is going behave. and when they don't we will take actions that protect the american people, the national security and protect our economy and jobs. reporter: local reports out of houston show video of smoke rising from china's consulate. typical image when a government has to leave a diplomatic facility, usually from burning sensitive documents before evacuating. senator marco rubio sits on the senate foreign relations committee. he tweeted this morning, quote, china's houston consulate is a massive spy center. forcing it to close is long overdue. just yesterday the department of justice said two chinese government-backed hackers were targeting coronavirus researchers across the united states. in the indictment it included a engineering firm in texas as a target. china's foreign ministry urged the trump administration to

revoke its decision. if not, saying china's government will take the necessary countermeasures. that likely means requiring the u.s. to close one of its five consulates in china. already this month, connell. what we've seen from the u.s. administration, authorizing sanctions against chinese officials and companies that have been involved or have anything to do with massive human rights abuses in shinzhen and removing the special trading status for hong kong. all of that happening the last couple weeks. back to you. connell: yeah, much larger story than this. this of itself is quite a story. thank you, rich edson at the the at state department. let's talk about in context with the financial markets. scott shellady, the cow guy is with us. earnings a big part we look at today, big ones after the bell, microsoft and tesla. china, how it works into the market. not like we can kind of hope for a second trade deal anything

like that anytime soon, how do you look at it from investment perspective, scott? >> i think pattern and their history, this is only going to get worse. i have a british passport. i spend a lot of time in europe and london per se. they gave hong kong back to the chinese in 1997, 23 years ago and under that treaty there was 50 year deal where the chinese would run it like britain. well, 23 years later they have torn the piece of paper up and take it back over again, because in 1997, hong kong was 13% of china's gdp. now it is only 2%. they don't care. they will be heavy-handed. that is how they do things going forward. that is great example. embassy is another great example. that will stick with us. i was in cold face listening to the agricultural issues with the tariffs last two years. this is not going to go away. it is only going to get worse. connell: yeah. there was a lot of controversy

at that time, is it a new cold war, a tech cold war? is it decoupling? looks like all of those terms and maybe more actually apply to the relationship between the u.s. and china. want to talk a little bit about the united states on the earnings front. "after the bell" we'll cover the microsoft number, the tesla numbers. boy tech is some story, especially tesla. a tough part to jump over if you're tesla this afternoon. what are you looking for? >> i mean, tell you what, i don't want to be the bug on that wind screen because there is a lot of folks out there that think tesla thing is a big bubble. it may be. as long as news does not come in bad it will con stone supply higher. there is issue of supply and demand. not a lot of shares out there. 10% of tesla's are shorts. when the market doesn't come lower, the shorts have to buy back stock they presold, they cannibalize themselves.

this is wash, rinse, repeat since the stock trading at 750. if they don't have bad news any other news it will grind higher. that is the issue. connell: we talked about it on the network, eventually moving into the s&p 500. maybe a lot of buying that would have happened ahead of that already happened. funds are forced to own the stock and everything else. it adds to the story. >> absolutely. this is one of those things we get asked about it all the time, should i buy tesla now? well, i tell you, if granny dies left you a million dollars i probably wouldn't pile it all into tesla at these levels. i know the s&p will look at them very closely as well. it could be a real big bubble. we'll have to wait and see. it could really something that could unsettle the index. there will be more scrutiny. we'll see what numbers come out today. as long as they're not bad. even if they're mediocre it will still griped higher because of that supply and demand issue.

connell: we'll watch it, after the bell. one more topic before we let you go, scott. that is housing. existing home sales looks great up 20% from the month before. it is the biggest gain since the '60s. the perspective on 20.7% to the upside it is still down 11% from where we were a year ago but housing is a interesting place to look here, in terms of a bright spot with all demand in the suburbs and people moving out. what you do make short term or long term. what is your view on housing? >> it reminds me of an old show i would watch as a little kid, danger will robinson, danger will robinson. nice to see what rousing has been doing. we've seen interest rates come lower. the 30 year now underneath 3% should make people really excited about buying and refinancing. you know what? the interest rates are not coming lower because the economy is on fire. that is my issue number one. number two, last month we saw

33% of the americans did not make their entire mortgage or rent payment. and 20% of americans didn't pay anything at all. that will catch up with us. so i don't know how bad this cut is to the economy. i think it is more of a deep stab wound. we don't know how deep it will be. in the short term we have a little bit of sugar high of rates people coming out of lockdown. remember 33% of us last month couldn't pay all of our rent or all of our mortgage. 20% of us didn't pay a dime. that will be a bigger issue going forward. connell: good perspective. thank you, scott shellady, the cow guy out of chicago. as we continue we have alert from the white house to pass along. the coronavirus briefings will continue today. the president will brief reporters at the white house this evening at 5:30 p.m. 5:30 eastern, president trump at the white house. here in new york, in a moment we'll talk about why some retailers are saying new york

city in the current environment is among the worst place you could be doing business. we'll be right back. "cavuto: coast to coast" continues after a quick break. ♪. oh, we love our new home. neighborhood's great. amazing school district. the hoa has been very involved. these shrubs aren't board approved. you need to break down your cardboard. thank you. violation. violation. i see you've met cynthia. at least geico makes bundling our home and car insurance easy. and it does help us save a bunch of money. two inches over regulation. thanks, cynthia. for bundling made easy, go to geico.com

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♪. connell: there is question about whether businesses agree with billy joel, state of mind they're in. zane tankel joins us. owns a bunch of applebee. a quote in the "new york post," zane said new york city is the worst place you can be doing business. to put it in context, it was a lot, i was reading through it, how we bounce back. whereas other places reopen in the country, here we go off to the races, not so much in parts of new york city. what are you noticing? >> well, good morning, connell. how are you? you know, the restaurant space is really not one-dimensional. there are four pieces to it. there is quick serve. there is fast casual. there is casual where we fit in. then there is fine dining. each one faces its own

challenges. i can speak to us specifically but i also can speak to the others as well. all requires what new york has always been known for, every urban center, energy, people, street traffic. you don't like everybody is walking in your space on the one hand. on the other hand it provides an energy and a certain level of excitment that people, you know, prayed for. pull that out of the equestion, just having a person walking down the street here and walking down the street there, we have taken everything, the huge allure to new york city out of new york city. i think the restaurant industry has huge challenges. take fine dining, for example. fine dining sells four things, basically. you walk in. rett's do a tour. you walk in the first thing you see is atmosphere. the walls, the table cloths, the silverware, the glasses. the second thing you get is the

service. how are you, sir? they bring you to the table. your server comes over. the third thing you get is food presentation on a plate and it looks like a piece of artwork. and then the fourth thing you get the freshness of the food and quality of the food. try doing all of that stuff with to go where you are with that space now, to go. you can't do that. it is not possible to have fresh food in container delivered in a half hour. connell: that we rely on so much, we're showing times square while you're speaking obviously makes the point. we always forget, so many people live in new york, we forget how much people we rely on people coming from the outside, the tourists, you wonder when time framewise they will come back. it is not anytime soon, right? how important for business like yours, you own applebee's i said, number of them, 35 in the new york metropolitan area. the number of tourists coming

in, you must be so reliant on that obviously. >> totally. certainly we do about $25 million in two restaurants in new york city proper. one in crossroads of the world, times square. the other one in the heart of the theater district. i also am very engaged and involved as director of the oil business. i say the two businesses are equally terrible right now and equally related. i was on stuart varney, he said when do you think oil turns around? i used to look at the sky for which direction we're going and where the sun is and now i look at the sky and see how many airplanes do you see in the air? now look at the pathways which are the roads and how many cars are on the road. when you see the skies filled again, which is probably right now looking like the 12th of never, and when you see those cars roll over the superhighways and roadways, then you will see people coming back. but that is not in the

foreseeable future, connell. i suspect. ironically new york city is two different worlds. there is the boroughs where people live and have they thick demographics. there, while we don't have any indoor dining yet we do have patios set up on the street, set up on our sidewalks and we're doing, we're surviving. we're doing reasonably well. in westchester you have 50% seating and we're doing very well in a relative sense. everything in this world is relative. in march, the end of march, i told people we were done. we were out of business. i think i even made an appearance on this show. i didn't think we would ever come back in march. we shuttered down our entire operation. we furloughed over 3,000 people and, then we went to the drawing boards. in the end of march we opened half a dozen restaurants and we opened another one. last week, connell, we opened our 18th restaurant. next week we will open our

19th restaurant. so we slowly but surely are come coming back prudently. connell: making progress. i know manhattan will be tough for the foreseeable future but at least you're getting there and some other places as you said. we have to go, zane, but it is interesting -- with the delay. it is a little bit stepping on you. one last point. >> okay, sure. i think the people that are able to get to the other side are those well-versed in the new digital world because it is the only channel to get people to come in and that's online marketing, online advertising he et cetera. the old form of getting the word out there, not available anymore. connell: yeah. right. you got to be, you got to be flexible. zane tankel, good to see you. all the best to you in your various businesses. we just got word in from washington, there is a report out, we talked about the

enhanced unemployment benefits may be extended. they might work on something short term. we're not sure. we'll talk about that a little bit more when we come back. also ahead, just a moment, new reporting on former vice president joe biden and his economic plan. hillary vaughn is on that story. she will join us from washington when we come back here on "cavuto: coast to coast".

♪. connell: you know, we've been talking a lot this week that the trillions of dollars that former vice president joe biden would like to spend if he were to become president in january of next year. today we zoom out a little bit, we take the 30,000-foot view. mr. biden spent four decades in washington. he has a long history on a lot of economic subjects. hillary vaughn joins us with a look at some of that history. hillary. reporter: hi, connell. if you look back at joe biden's time in washington, all the way back to 1995 when he was a

senator here, he talked a lot about a balanced budget. he sounded a lot like the fiscal conservatives that you hear in congress today. back then, biden made the case for a balanced budget saying he would make tough cuts to do it, including touching social security and entitlements that democrats today want to spend more money on. so we dug up from the archives biden on the senate floor in 1995, making the case for a balanced budget to his colleagues. >> when i introduced the budget freeze years ago the liberals in my party said it is an awful thing you're doing, joe. when i argued that we should freeze federal spending i meant social security as well. i meant medicare and medicaid. i meant veterans benefits. i meant every sing fell solitary thing in the government. i not only tried it once. i tried it twice. i tried it a third time and i tried it a fourth time. reporter: fast forward today biden's views on debt had

evolved. in 1995 the national debt was 4.9 trillion. that was 65% of the gdp back then. today it is $26.5 trillion. over 123% of the gdp. but even though the debt crisis now is more critical than when biden warned about it in 1995, he is not scolding big spenders in washington like senator bernie sanders. he is embracing them, promising to be the most progressive president in american history. >> this is both a moral and a economic imperative for the nation in my view. way we pay for it rolling back unproductive tax cuts. reporter: the programs he rolled out so far already totaled $6 trillion in government spending. biden rose to where he is today, remember, connell, as the common sense moderate compared to progressive democrat socialist bernie sanders. but now he signed on to a unity pledge and platform with sanders

that price tag got a lot higher. connell? connell: 6 trillion. hillary, thanks. hillary vaughn live from washington this afternoon. let's shift to sports just for a moment. you know. as they come back. opening day by the way in baseball is tomorrow. this is a big deal for the tv networks including fox, that's for sure. one of the ways they hope they will drive the ratings, there will be no fans, with increased emphasis on gambling, sitting home gambling on all kinds of different things. kristina partsinevelos live in east rutherford, new jersey with more on this. kristina. reporter: connell, the destruction of the sports calendar of course is of a affecting fans all across the globe. have no fear the return of sports like you mentioned is finally here. mlb, major league baseball on thursday. that is i am at the sports book, anybody can walk in with social

distancing and masks and in place of course. we're breaking down how gamblers open their arms to sports and final return. thursday, mlb expected to be much different. no fans in the ballparks. you have to rely almost exclusively on tv. that is giving sports leagues an opportunity to strive viewership not only through tv but sports betting. the american gaming association, predicts that mlb will get roughly $1.1 billion from sports gambling alone. they are dipping their toes, gambling, you can call it, offering fans to chance to enter in-games, in-contest games and you can win some cash prizes. overall around the globe, we're talking about united states as well. you have 18 states that legalized sports gambling. six more on horizon. why i spoke to the president of sports grid who said this could be a saving grace for states that need the extra cash

injection. listen in. >> every state that needs to get revenue, what is the best way to get revenue? go mobile, open up, allow people to place bets in a legal way. reporter: we have the future of ports betting that is here. in colorado, i want to focus on one particular state. this is interesting. we have games closed for quite some time. colorado, their sports gambling started may 1st. what was popular? table tennis and ping-pong. in colorado they spent $6 million on ping-pong. you could have bet on the hot dog eating situation. amateur athletics, professional athletics. the combination of both means it could be a continuing growing opportunity for the gambling industry. they are taking notice. back to you. connell: yeah. you haven't lived until you bet on ping-pong.

that is a good story, kristina of, with the legalization, timing of the legalization is a big part of it i think. that could help out. betting on sports was taboo in this country. kristina partsinevelos. east rutherford, new jersey. we're getting rumblings out of washington what the next coronavirus bill might look like, what is in it, what is out of it, how the negotiations are going. we'll get into that when we return. also more on a big jump, month over month at least in existing home sales. the bright spot in the housing market when we return. we'll be right back on cavuto coast coast to coast. given my unique lifestyle, that'd be perfect! let me grab a pen and some paper. know what? i'm gonna switch now. just need my desk...

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it is largest increase in the records going back to 1968. for a little bit of perspective, i believe economists were expecting 30,000 more. you know, this could be a dated number, this existing home sales figures. it is down 11% from year ago. you try to put it into perspective. as we bring in katrina campins, housing is bright spot with the trend of people moving out of urban areas to suburban areas, buying houses sight unseen. where are we in the housing market in your view? >> the housing market is allowing us to get out of the profession. it is one of the main drivers of the economy right now. this recession that we were in, or are currently in is very different than the last recession because during the as recession people were overleveraged when it came to mortgages. they didn't have much equity in their home. this was a perfect storm which

created the demise of the real estate market at that point in time. this time around, it is actually real estate driving us now. there is more equity in people's homes. we also have lower interest rates, and let's not remember, let's not forget, i should say, during the pandemic we've been stuck at home. people have reevaluated the importance of home. they want more space. they want their own pool. they want control of the amenities and so forth. that is what we, people are reevaluating their current situation. people are moving away from a lot of blue states to red states. we're seeing it consistently here. in florida, for instance, people are flocking there. we don't have enough supply. i think that is one of the main things driving prices up, the fact we don't have enough supply. people are in a frenzy wanting to get more space, wanting to move. once we have a little bit more supply, then i think things will level off, but for so many years have not been building because of red tape, because of

regulations, because of the cost. connell: right. >> so the economy now is seeing a little bit of change in that. builders are more bullish, especially in red states. connell: quick thought, katrina on timing, those trend. that is what people are trying to figure out. it is happening moving to the suburbs. the blue to red move statewise. okay, temporary, permanent, long term, short term, what do you think? >> i think this is going to be permanent, i really do. i'm seeing it in florida. i seen new yorkers not wanting to go back. i receive phone calls from people with large cities. they have no intentions of ever going back to that way of living. they reevaluated importance of being with their families more and also home offices have become a very popular request for people looking with homes. we're beginning to see that people no longer want the big office space locations that they wanted before. so i think this is going to be a permanent move.

i'm also getting a lot of calls from california because of the policies going on in that state, especially from the wealthy there. really unhappy with what is going on in california. i think it is also important to note that, you know -- introduced a plan that is going to affect the real estate industry if he does indeed get elected which i don't think he will, if he did it will affect real estate tremendously. a little ironic now that the real estate industry is helping us to get out of this recession, he is culling for more taxes, more spending, specifically removing tax incentives from people who have purchased real estate and are successful. so the underlying tone in his policies, all of them, actually, are very socialist. connell: right. >> which is you're successful. connell: wants to take away some real estate tax breaks and those commercial, right, something that would affect especially commercial real estate. thank you, katrina campins with

us. steve moore quickly with developments fast and furious on the next round of coronavirus stimulus. everyone is watching, steve, senate majority leader mitch mcconnell, next few days the republican bill is supposed to be out. there are rumblings today that the republicans might be open to, on enhanced unemployment benefits, not an overall extension, $600 where we've been, but some sort of a limited extension there. what do you think? >> yeah. by the way, thanks for having me. sorry to be a few minutes late. actually i was on the phone with some of my sources over at the white house and capitol hill, trying to get the latest information about this. basically what happened is, the republicans are now saying that they want to go up to 70% of your previous paycheck. so in other words right now, it is a crazy system that only lunatic could set up where, in many states, getting almost twice as much of a income from

staying out of a job than going back on the job. that is obviously really bad for the economy. nancy pelosi wants to extend that for six more months. republicans are saying, we want to provide people with safety net that lose their job but we don't want to provide all of them the income they have if they were working because that is not fair to the people that are working. they would go to 70% which is more generous than normal unemployment benefit. gives them a safety net. also gives them incentive to get a job. one quick thing, employers around the country, saying they can't get workers back on the job because of these high benefits. connell: we talked a lot about that, steve. inconcludeing in our conversations with you over the last few months. so i understand it right, you have your state unemployment insurance would stay as is, obviously? >> yes. connell: somebody makes $100,000 a year, whatever it is, they take 70% of that, whatever you make weekly, they add to it.

it is not 600 bucks a week, but whatever the 70% is. is that right? do you personally support this? >> so, what i would support just going back to the old unemployment insurance system up and running for 50 years and works people pretty well. it provides people with income, to pay for rent and food but incentivizes people to get back in the job market as quickly as possible. 70% i think is something everybody could live with. it provides a better benefit than normally get from unemployment insurance but also incentivizes people to get back into a job. there was some talk earlier this, late last week about giving people 100% rather than 150 or 200%. i have a problem with that as well because, we find in our studies that we would lose about 6 million jobs, 6 million jobs before the end of the year if you do that. if you're a construction worker, working in a factory, you can make as much money sitting at home and rather than working in

a tough job, people will be reluctant. republicans really need to make the fairness argument here. we're prowork, pro-workers. the way to reward work to make sure unemployed are. that i'm a big advocate for the payroll cut. connell: where are we on that, steve? i'm running up a against a break a little bit. sorry to step on you. you and steve forbes are pushing that hard a lot of republicans are still opposed. when you speak to the white house, will they give on the payroll tax cut. will the president sign a bill that will not include that, do you think? should he? is that a place to have some compromise? >> sure it is in play. i think the president definitely wants a payroll tax cut. larry kudlow wants it. steve forbes wants it. art laffer wants it. i talk to many republicans in congress. i don't understand democrats were against it. they were for it 10 years ago, when barack obama, nancy pelosi

saved 10 years ago payroll tax cut is one of the best ways to help workers. now she says it won't. i don't get her logic. connell: we're unfortunately against this break. we'll continue discussion over next few days as negotiations continue. thank you for your insight. steve moore, quite inflew influential. steve forbes in the white house talking about issues and some others. still more to come. we'll check in on seattle when we return on "cavuto: coast to coast". no m atter what challenges life throws at you, we're always here to help with fast response and great service and it doesn't stop there we're also here to help look ahead that's why we're helping members catch up by spreading any missed usaa insurance payments over the next twelve months so you can keep more cash in your pockets for when it matters most and that's just one of the many ways we're here to help the military community find out more at usaa.com

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connell: now to the protest movement in the specific northwest of seattle. you're looking at here. portland as well. violence in some other cities across the country. we have word coming in, there is a report out, officials in washington state are planning to close down a city jail in downtown seattle. some are questioning the timing of a decision like that. t was christopher ruffo, city journcontributing editor who dug this up, a leaked email. tell us about the story we can talk back and forth, about the timing. what did you find out? >> absolutely. yesterday, someone within the king county government leaked an email unveiling a plan to reduce

the king county jail capacity by 60%. king county executive, constantine plans to close the county's largest jail facility. this is really a devastating move for public safety. it comes at the same time that the city of seattle is now releasing a plan to reduce the police force by 50%. so you put those two things together, reducing the police force by more than half, reducing the jail capacity by more than half. this is something that happening at an extraordinary speed and it is really creating chaos and division and frustration as these things unfold. connell: extraordinary speed at an extraordinary time. what reaction has this been to this? i assume the protesters are thrilled? seems like a big win for what they have been pushing for? >> absolutely. the protesters are elated. after i broke the story, you could see their social media feeds exploding in joy. keep in mind, that the protesters in seattle, the people who are at the barricades and on the streets lobbing

explosives at police officers, they want nothing less than the total abolition of police and total abolition of prisons. so this is not going to stop them. i think what happens, the mainstream progressive political class in cities like seattle and portland thinks they can appease the protesters with even dramatic cuts like 50% of police officers or jail beds. but they're not going to stop. i think what is happening is that there is a small group of people that are using the coronavirus, using george floyd tragedy to push through an agenda, while the average citizen in seattle, the latest numbers, that 70% oppose these cuts. but they're really no one is listening to them. citizens are getting bowled over. getting intimidated, threatened, harassed. right now activists are on the march. they're winning. they are going to be shutting down police precincts, shutting down prisons and jails. this is something extraordinary

we have never seen anything like. connell: yeah. i'm sure the concern is on the other side you will not slow them down as you said. if anything, you will inject energy into the movement. thank you very much. christopher ruffo uncovering the story out in seattle. more to come in hour number two of "coast to coast. a cdc report saying covid-19 rates of infection, may be 10 times numbers that have been reported. that when we come back. don't go away. cut! sonny. was that good? line! the desert never lies. isn't that what i said? no you were talking about allstate and insurance. i just... when i...

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connell: it is "coast to coast" and we are covering stories on the east coast, in washington, d.c. where there is talk and reportedly some developments on the next round of stimulus. live report on that just ahead. we are also watching houston. big story overnight as the u.s. has forced the chinese to close their consulate there. we are trying to dig up more details on what exactly is happening. the violence in chicago is the big part of our reporting as well. and in the pacific northwest, we will take you back to portland. we just talked about seattle a few minutes ago but we start the hour in atlanta. jonathan serrie reporting on

vaccine developments. the government tapping pfizer to produce millions of coronavirus vaccine doses. jonathan, what's the latest? reporter: very exciting developments. today the federal government announced it has signed an agreement with connecticut-based pfizer to secure 100 million doses of an experimental vaccine under operation warp speed. that way, the doses could be available for domestic use as early as october if a large phase 3 clinical trial convinces regulators the vaccine is safe and effective. the cdc estimates ten times more people have been infected with coronavirus than the number of reported cases, in 7 of 10 u.s. regions. in a study published in the "journal of the american medical association" federal researchers lo looked at antibody tests which looked at if you have been exposed regardless of symptoms because many without symptoms don't realize they are infected and contagious, experts say it's important everyone wears a mask in public. this simulation at florida atlantic university shows how a well constructed home-made cloth

mask can block a cough from spreading respiratory droplets more than a few inches but when the cough is uncovered the droplets can spread more than eight feet. if you are in the path, a mask offers limited protection when you are on the receiving end. >> it's about 20% to 30%. it's not zero. there is some protection. but if we are all wearing a mask, the protection jumps about 80%. reporter: when combined with social distancing and frequent hand washing, you increase your odds even more of avoiding this nasty virus. back to you. connell: jonathan, thanks. jonathan serrie live from atlanta. we stay on this subject, as a company called covax that has been partnering with the university of nebraska on antibody tests and clinical trials for their version of a coronavirus vaccine, we are joined now live by the founder, co-founder and ceo of that company, lou reese. good to have you on the show.

couple different topics here we can get into because there is a unique element, i think, to what you guys are doing. just update us on the progress of your work vaccine-wise, first. >> well, thanks so much for having us. we really appreciate it. yeah, happy to be here. so you know, i think one of the things that's being faced with the world today is that we are faced with a very large, probably the biggest ethical question of our day, and that's really when these vaccines are made, there will be a limited supply at the beginning and as we have announced about a week ago, something we are super-focused on is our vaccine prioritization advisory group. that's an independent group that is 100% focused on where and how we deploy that first hundred million vaccines. so i think that's really what we are focused on. we are in the process of that scale-up in manufacturing and we aim to have that first hundred million vaccines ready by the end of this year or early first quarter next year.

and we are starting our human trials next month and our animal data is really just overwhelmingly positive, as one of our scientific advisers said it's really knock your socks off data. we are very excited about it and just honored to be part of the problem and part of the solution here because i think we really get -- we really get an opportunity to be on the front lines and work with purpose and speed to have a tremendously positive outcome here. connell: so knock your socks off data, that's going to make everybody excited and we have heard similar sentiment from other companies that are in the race for a vaccine, which is good news. put everybody together and there's more likelihood we not only get something done, we get multiple vaccines in the works and you know, everybody is rooting for the best. but as i said, what's unique about your company, you talked about it already, is this idea that you want to play a role in who gets the vaccine first, right, the priority. what is the role or why does a

company play a role in that? what's the role of the company? >> well, you know, i think that right now, this is an ethical dilemma and ethical question that's bigger than any individual, and bigger than any one company. so the idea here is how can we have a global, truly diverse perspective that involves emphasis and scientific leaders and thought leaders in the health space so that you can do and distribute in a truly ethical way, and one of the missions at our company is we are trying and striving to democratize health, and this is no other situation has been exactly that. this is an opportunity to have a tremendous impact on suffering and alleviating it and like i said, we are really blessed to be in a position where i think we can have an impact with our science but more importantly, we are, based on our animal data, based on our proven track record of manufacturing, based on the

fact that it's a fully synthetic vaccine and the platform has been safe in humans, we are strongly -- we strongly believe we will be part of it. as you mentioned, hopefully there will be many successful vaccines and our goal here is at the beginning, there will be a supply constraint and we need to really think that through in an independent and global and diverse manner so that we can come up with an ethical solution. connell: can you just give us some insight into the early discussions you've had around that in terms of where the priority would be, is it more with first responders, more with people who are susceptible to being infected? what have your discussions centered on? >> so right now, what we have been focused on and continue to be focused on is the breadth and diversity in a global perspective there, and what that means is it could range from anything from looking at preventing outbreak zones much like was done with ebola, or it could focus on as you mentioned, those most at risk and those

most vulnerable. those populations as we know are the elderly and there's a tremendous amount of socioeconomic stratification in terms of impact as well. so really, a diversity of opinions here and a global perspective is what we're after. connell: we look forward to an update on that and seeing if other companies are thinking a similar fashion as they develop their vaccines. lou reese, coviaxx, we appreciae it. back to washington, steve moore was on with us a few minutes ago talking about how the next coronavirus stimulus bill might come up and this idea they are going back and forth on enhanced unemployment benefits, moore and others have been against an extension there, but apparently republicans are working on something of a compromise. here's steve moore on this program last hour. take a listen. >> the republicans are now saying that they want to go up

to 70% of your previous paycheck. connell: hm. all right. so with that, to chad pergram, fox's congressional correspondent reporting live for us from capitol hill. that's a new development. i'm sure there are others, as these things tend to move fairly quickly. what are you hearing? reporter: well, things are actually moving rather slowly here. all eyes are on mitch mcconnell, senate majority leader, who indicated he is going to write the bill here, but there's a lot of deep dissent on the republican side of the aisle about how to go about this and house speaker nancy pelosi is very aware of that. listen. >> time is running out on that because there are deadlines in another week or two that have to be met. so we want to see this bill not just have a conversation, but see a bill, we have a bill, see their bill, and see where we go from here. one thing is very clear. we have been united in our priorities.

reporter: conservatives balked at the potential price tag of the bill. some like republican senators ted cruz and rand paul were appear p apoplectic about the cost. rick scott and ron johnson say they need more information from states about how they spent money from the previous coronavirus bills. mcconnell wanted to cap the price tag of the legislation at $1 trillion but that figure will likely soar above that threshold because mcconnell and even president trump need democratic votes to pass the bill. a senior house democratic leadership aide tells fox they are waiting for mcconnell, the kentucky republican was silent on the floor today about a possible bill, but he laid out a path yesterday. >> we'll lay out the specifics. i'm going to introduce a bill in the next few days that is a starting place that enjoys fairly significant support among republican senators. at that point, we'll be more specific about how to allocate but we do envision direct checks

again. reporter: chuck schumer, the senate minority leader, railed against mcconnell today because he did not mention a coronavirus bill during his opening remarks on the senate floor today. he said that republicans are tied in knotts, his term. there's a deadline here, the 31st of july, that's when unemployment insurance will run out. there's a little bit of chatter here on capitol hill that they might try to put together a bridge, if they can't get this overall deal done by the end of next week, they are also going to look at this jobs report coming out but i'll tell you this. the longer this goes on, the bigger the bill is going to be. connell? connell: the odds seem to be now, chad, real quick, it might go into next month before they get something done officially. we've heard about a few of the issues. i mentioned the comments on enhanced unemployment benefits but what are you hearing about a payroll tax cut, and it seems that the president has to give on anything, that might be the issue. is that fair? republicans don't agree on it

100%, do they? reporter: right. i talked to one senior republican yesterday who said there were only about 10 to 12 republicans who were for that but if they don't put that in the bill, does that prompt a vito threat from president trump. remember when he blew up the spending bill to fund the government a couple years ago. that open wound still exists here on capitol hill and republicans are very leery on that side of the aisle about committing to something that they think the president might veto. at the end of the day this is going to have to trigger a lot of democratic votes. mark meadows was most known when he was a house member for detonating things. here, he's part of the negotiations, the white house chief of staff, and has to bring people together. something else he was a fiscal hawk, he was opposed to big spending. this bill as i say is only going to get bigger if they have to bring democrats into the fold to get their votes to pass this. connell: all right. chad, thank you. chad pergram live on capitol hill. the markets and how they are interpreting tall this.

joined by mark avalon and jackie deangelis. what do you think of how important the fiscal side is stimulus-wise? we talk all the time about the federal reserve and what it's done to kind of prop up our stock market. what about the next round of stimulus? >> you're right about the fed and the important role it plays but remember, where the stock market was before congress came out the first time with those big stimulus checks and made it clear that both sides were actually going to agree on something. a lot of that stimulus is rolling off and ending, and we don't know what will happen in august and september in the absence of that. in fact, with states closing more and more, and more and more people's financial situation becoming more perilous, we heard earlier about the home ownership and delinquencies in payments for renters, there's a whole host of issues that really are dependent on this. so if they are going to do anything, will be a net negative for stocks. if it's a partial deal with more to follow could be a neutral. if it's something robust that's

going to continue to be game on for stocks. connell: the other issue, there are a bunch of other issues, i guess, that we watch today it was housing which we talked about a number of times in the show, but china, that was a pretty big story overnight out of houston, huh? >> it's a huge story, connell. basically what it indicates is that china is basically back to its old antics. there's a reason the government closed down the embassy and they're not doing that to any other embassy but they are doing it to the chinese. we have had a problem with intellectual property, with them stealing information, for such a long time and donald trump really has been the only one in modern history that has actually stood up to them. now, pre-pandemic, the stock market would get nervous, with trade tensions we would see the markets go up and down, up and down. post-pandemic, everything is different because people look and say the virus originated in china and they were haphazard when they let it out and feelings around this are really really different. when you see something like this

happen today, i don't think it rattles the market as much as it might have say six months or a year ago. i will make one final point here and think about the election coming up in november. there are a lot of people on wall street and a lot of people just within the country right now that are considering this. do you want xi jinping coming up against donald trump who has said i'm going to be tough on you, or do you want him picking up the phone and calling joe biden, who is 77 years old and sometimes can't even remember exactly where he is. i think there are a lot of people including a lot of wall street representatives that would say we want that tough stance on china. connell: what do you think, mark? the other thing is our expectations have been completely, this is partly to jackie's point, been adjusted here because this happened at the consulate, they are burning the files, it is a big story, but nobody was really expecting any progress on china trade, whereas you know, a year ago, like she said, we were pins and

needles, did we get a little movement here, little movement there. we have come to the conclusion we're not going to make much progress for better or worse. >> well, i think by now, all major investors have seen the fire down in houston and the stock market is not selling off, which underscores jackie's point. we have kind of gotten used to it, number one. we have this huge fed put on the market. we have congress pumping out more money and we also have experience with china trade tussles. we were talking about tariffs for over a year and the stock market was up or flat and had a few good days, had a few bad days, but never melted down and it didn't sell off when we had the significant china trade tension. so the key for the markets here is for this to be somewhat contained, for china to retaliate, we know they will, maybe there's a little bit of talking afterwards and if it calms down from there, it will be almost a nothingburger.

if it escalates, however, that could impact u.s. companies. it could impact the chip makers. it could impact businesses that operate in china, whether it's hotel chains like marriott, it could be retailers like starbucks getting treated with a bit of a heavy hand, aircraft orders being delayed, higher scrutiny on construction projects, all these things are tools china can use to get back at us in a way that could result in us laying tariffs. none of that is good. but as long as it stays relatively calm, i think the stock market looks beyond it. connell: okay. fair enough. guys, thank you. mark, good to see you. jackie, thanks as always. you know, we will talk in a moment about one company that does have an operation in china. tesla. remember the factory they built up in shanghai. we are not talking about it for that reason at all. this is the reason. a stock at nearly $1600 a share. boy, it's been some story. earnings are out after the bell

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at comcast business, we want to help you not just bounce back. but bounce forward. that's why we're helping you stay ahead and adapt with a network you can count on, 24/7 support and flexible solutions that work wherever you are. call or go online today. connell: we have a alert from united airlines.

it's extending its requirement, people wearing masks. united now saying you will be required to wear a mask when in the airport and in the airports united operates in, they are in 360 of them around the world, but at the kiosk or whatever the case may be, not just while on the plane. united airlines. let's talk about tesla as we bring in our friend charles payne. earnings are out tonight. lot of anticipation. stock's been crazy. there's the tesla shares at $1587 per share. if i could convince cavuto to lend you a million dollars, how much would you put in tesla right now? >> you know what, i saw steve forbes last year and i almost put $200,000 in at $200 a share and it popped a few days later and i felt like i missed it. the first time i ever recommended the stock was in 2010 at $23 to my subscribers. the last time was september -- was last year, february of last year at $300 a share. i have been in and out of the stock a dozen times, maybe, over the last decade and i'm kicking myself for not being in.

i will say this much. for those who like to gamble, because it's more of a gamble situation, short-term, if they do beat and they do meet the requirements to go into the s&p 500, i am saying we will see the mother, the mother of all short squeezes. it's the largest short in the history of mankind, $20 billion, some of that will be covered and i think you could see a quick run up to $2,000 a share. whether or not it stays there, i'm not sure but everyone is watching this stock because of the upside potential. mind-boggling. connell: $2,000 a share. everything about at least the stock has been mind-boggling. i was even looking at some of the expectations for tonight, like the official estimate is a loss of like 14 cents a share but they are all over the map. the highest estimate was for them to make a profit of $1.79. others were like no, they will lose $2.53. all over the map. >> it's all over the map and so has the reaction. in april, they beat, the stock

was down, the same day they reported 2%. in january when they beat the stock, went up 10%, that week it went up 17% and in november and october when they beat, the stock went up 17%. later on that week, as high as 24%. so this is a name that bounces all over the place. it's got one of the widest earnings ranges i have ever seen in my life. there's a lot of guessing involved here, a lot, really, we will see what elon musk has to say about profitability. it has become a cult stock but i will say it's the most influential stock in the market right now because there are a lot of new investors to this market who were drawn into it because of tesla. connell: right. i'm always fascinated to talk to you about how you make a decision, because you have been doing this for a long time on the trading side. i couldn't do it to save my life, you know, happy owning an index fund and not even looking at it for years but you are a different animal. you're in it, getting in it,

getting out of it. on a stock like tesla, a lot of it seems like guesswork. is it? >> well, you know, a stock like tesla, there are three things i use and the core of my investing, 70% of it is actually buy and hold, usually three to six months. fundamental analysis, technical analysis and behavioral analysis. for me, technical, fundamental analysis is good for 60% to 70% of the decision making process. your technicals, maybe 20%. behavioral is like 10%. but when it comes to tesla, you turn the whole thing upside down. because it's all about behavior. what will the crowds do once the news is out and then exogenous things like this mind-boggling short position which at some point has to be covered. i don't cover tesla in the traditional way. i might look at let's just say advanced micro, a stock that's breaking out today in the semiconductor space that i love. you can look at the fundamentals, you can look at

the technicals and you can also understand how chip stocks have traded, you know, throughout history. tesla is a breed all by itself. connell: we will cover it after the bell today, in between now and then of course we have your fine program and we will let you get set for that. you have managed to outdress me as usual. so there's that. i'm uncertain about my own appearance as always. you always look sharp. charles payne, see you when you come on the air at the top of the 2:00 lour onhour. quick break, then we take you to chicago. the violence in that city continues to be a big story. we are covering it and we will get the very latest on the use of federal agents in some of these cities, including chicago. don't go away. this is decision tech. find a stock based on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions.

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chicago is certainly one of them. mike tobin is there live with the very latest for us today. mike? reporter: connell, let me show you, start out by showing you the scene here, where outside of a funeral home in the aftermath of a visitation for reputed gangster, it all erupted into gunfire. we can show you the security video of those panicked moments when the hail of bullets started flying. the people who were in the crowd, the intended targets, returned fire according to witnesses. police say they collected some 60 shells off the street. it was a drive-by from a stolen chevy malibu. police suspect this visitation could have been the target of a vendetta so they stationed two police cruisers out front and still, that wasn't enough to stop the emboldened gunmen in this case. now the mayor is asking the community which generally does not cooperate with police, to provide information about the gunmen. >> someone listening at this

moment knows who's responsible for these and other crimes. someone listening has valuable information that could lead to their apprehension and to bring a measure of justice to the victims. reporter: along with the relationship between police and community is broken like i have never seen it before. you're not going to have people come forward and share information with people they don't trust. reporter: mayor lightfoot's position has changed from tweeting absolutely no federal troops in chicago, really with the pressure of local activists and other elected officials, saying they want the federal resources, they don't want to have a repeat of the kind of scenes that you have playing out in portland, oregon. that being said, i should tell you this was not the only shooting in chicago and sadly, the intended targets are not always the victim. in the south shore neighborhood, a 3-year-old girl was shot in the head. connell?

connell: terrible stuff. mike, thanks. mike tobin live in chicago. tom homan joins us now, former i.c.e. director. that's kind of interesting, mayor lightfoot would be changing positions a little bit on the role of the federal agents or federal resources in chicago. your thoughts? >> look, i think mayor lightfoot realizes that she needs help. she has failed her community. same thing in portland. they have lost control. so sending federal agents there, let me tell you something, the street cop would welcome any federal law enforcement agent, highly trained law enforcement agent, to help them protect their community and save lives. it just makes sense. connell: it is a different story, though, to your point, in portland. here's the governor of that state. the governor talking about how they don't need the feds. take a listen. >> a presence of several troops

here, trump's troops here on the streets of portland, has substantially exacerbated an already challenging situation. i told them to go home, that their forces are not needed here, they are not warranted he. connell: the argument is they are making it worse, not better. that things essentially had been dying down, the feds come in, give it more energy, make it worse. >> look, anybody can see the news and watch the videotape, especially here on this network. nothing is dying down. another thing, it's disgusting by the fact that she says trump's troops. these are trained law enforcement officers. may i remind her that federal law enforcement officers are already in portland. i.c.e. has been in portland for decades. fbi is in portland. atf's in portland. u.s. marshal's in portland. that's why we have a federal court louse becauhouse because the law there. their number one duty is to protect life and property. that's her number one responsibility, too. she needs to remember that.

she needs help, she has failed. president trump, he has total authority under article ii of the constitution to make sure laws are enforced and americans are safe. he's doing exactly what the american people expect him to do. he's doing exactly what i would expect the american president to do when a governor and mayor has failed, people are dying, property is being destroyed, we need help, we are going to be there to help them. connell: we have seen a lot of back and forth on this, some disagree with what you have said but are you saying in your experience, this type of stuff has happened before, that there's precedent? >> look, everybody is saying why is border patrol joining this. border patrol has responded to race riots before. there was a prison break in upstate new york. they were looking for prisoners that escaped from dannemora state prison. again, highly trained federal agents that have public officer safety authority. these men and women are putting it on the line for this country every day.

they are willing to leave the safety and security of their ohm every day to protect americans. article ii is clear on this, the president has the authority, there's no law being broken. he's doing exactly what the president of the united states should do. connell: one more comment for you to react to. then we will wrap this up. chad wolf, homeland security, on with martha maccallum said thchlt take a listen. . >> we are ready to go. we are ready to continue to enforce the rule of law. i think that's what this comes back to at the end of the day. these communities, i think the vast majority of reasonable americans, want law and order in their communities. i think the department will continue to be forward-leaning enforcing federal law, making sure that those communities are safe. connell: all right. tom, give you the last thought on all this following up on what secretary wolf had to say. >> i agree with everything secretary wolf said. i will add this. if we are going to let the

criminals, these aren'ts p protesters. they are burning property, they are shooting and killing people. these are criminals. if we are going to let criminals bully elected official to move federal law enforcement officers out of their city, if we let them win that battle then we lose the war. it's over. if we let criminals dictate where law enforcement is going to respond to, how they react, then we lose. we are in a situation now, we're the good guys. law enforcement officers all of a sudden are the bad guys. people that break the law are the victims. they are making demands that they want to be able to commit crimes with no consequence, no deterrence. that's not going to happen in this country. that's not what this country is about. this country is about law and order. connell: all right. tom, good to see you as always. tom homan, acting director of i.c.e. as we continue here, more on the markets, more on the stimulus talks and a little bit of sports as well. but the sports story is business related. big wall street firm that you may have heard of, ubs, thinking of getting into the hockey business. charlie gasparino has the story when we come back.

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connell: here we are in the middle of a pandemic and you might think nobody's got any extra money to spend on sponsoring a hockey arena, of all things. charlie gasparino joins us now. i guess ubs didn't get the memo? what's going on here? >> well, as we first reported on twitter today, ubs, i reported earlier this morning, ubs was in negotiations, at least that's what i knew, with the islanders to get its name plastered on the new islanders stadium and the development company that's doing the arena. it's out in belmont park in long island. you are a long islander. pretty sure you know where that is. it's a 20-year deal. it's hundreds of millions of dollars they are spending. we have had one report in "sports business daily" it was $350 million. that would make sense for a 20-year naming rights deal. that's right in the middle. when sofi put its name on the new l.a. rams stadium, it paid

something like $400 million over 20 years. so that's essentially right. you know, this says a couple things, connell, to me. it shows you that wall street, for the most part, is doing okay through this crisis. the fed easing clearly has helped the wall street firms, they are flush with cash. ubs is mainly a wealth management business here in the u.s., in addition to a big, as you know, swiss bank but here in the u.s. it's wealth management. wealth managers have been doing very well because the stock market has gone up since the lows, the pandemic lows a couple months ago. so these firms have money, particularly ubs. it's a pretty smart move. i will tell you this. this is why i like this story, connell. it shows you that there is going to be life after this pandemic. at some point, this is going to go, maybe not tomorrow, maybe not next week, but we are going to get a vaccine, the virus is going to run its course at some point, we are going to go back to normal and one way you go back to normal is to have sports. you know, mlb, as i have been

reporting for months now, as you know, they are starting their season, the nfl is going to have some semblance of a season. sports took it on the chin in this pandemic but there will be sports, we will get to the end of the pandemic, we will be able to go back to leading our lives again. it's going to happen. this reminds you, ubs is betting that, you know, sooner rather than later, we are going to get our lives back together. that's why it signed essentially a 20-year lease to get its name on the building. again, it's 20 years, it's probably something i would think anywhere between $300 and $400 million. sports business daily pegged it at $350 million. you know, my sources just told me it was hundreds of millions of dollars. the sources who tip me off to the talks. and it's a sign of the times. wall street is clearly betting that sports is going to come back and you know, this is part of a trend. there's no more shea stadium built after a philanthropist

named bill shea where the mets used to play. it's called citi field now. they rebuilt it and it's called citi field. all across the nation there are sports naming rights deals. you could name -- i think there are probably more sports naming rights deals than any other. most stadiums are named after some company. except for maybe yankee stadium which needs to keep yankee stadium for a lot of reasons. here we are with the islanders and ubs and again, connell, it shows at some point, we are going to get out of it and ubs -- get out of this pandemic -- connell: back to normal. >> maybe not now. connell: they were at a place in brooklyn where the nets play sponsored by another bank in barclays. but you're right, you wouldn't bet on it. like if you thought, for example, it's so hard to imagine we are so used to now turning on a game and nobody's in the stands and i guess we will get more used to that over the next few weeks but if you thought

that they were going to let a few fans or fans would be reluctant to come back and arenas would be half full, you don't make money that way. you got to sell these things out. this is a full-fledged bet on the world comes back to normal and not years from now, like a year from now. >> i'm old enough to remember the nassau coliseum. i saw the islanders play there many times. i also saw concerts there. they have gone from that, to barclays, now in this. listen, one of the more pessimistic people on this pandemic is my brother, who sees the carnage up front and personal at brooklyn hospital in the icu. you know, i spoke with him today. where he's convinced we will come out of this, it's not ten years from now, but in the next year, we are going to come out of it. it's just the way the world works. we are going to get a vaccine at some point. you know, we are not going to be in this mode forever. it's something to look forward to and -- but this is another sign that we are coming -- we are going to come out of this. i can't tell you we will come out of it tomorrow.

listen, i'm not a medical expert. i talk to one or two a day. but we are going to get a vaccine. in the meantime, wear your mask. it does cut down on this stuff. and we are going to get through it. this is another sign we are going to get through it. connell: hey, we will take a positive story every now and again. especially a long-term positive one that has to do with sports. thanks, charlie. talk to you soon. charlie gasparino there. that arena has been -- lot of people around here in new york that are islander fans have been very excited about that for some time playing right here. belmont park, where they race the horses. in a moment, we have the story about housing, the housing number was great today but this is a little different. talking about mansions that are being built quote unquote, pandemic-safe. we will tell you about what we mean when we come back. what i'm worried about is that if you're not expecting the shock, and the markets fall dramatically, you might panic. and in the midst of that panic,

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pandemic-safe, if you will. here's gerri willis with more on that story. gerri: looks like just another beverly hills mansion on the market, with all the bells and whistles. pool, check. oh, and a fountain. a grand entryway, yep. this house has it, too. want to play cards? you can do that as well. >> we just came on the market and we are priced just under $19 million. people come through the property, they don't want to leave the downstairs. gerri: but wait. there's a difference. this is a covid-friendly home. there's a covid cleaning room in the garage, complete with automatic booty dispenser for when friends visit. you can grab a mask, bottle of water and a robe, natch. for the family the movie theater has been transformed into a zoom room complete with space for kids to do homework and mom and dad to do business meetings all with a little popcorn, of course. the design of the home of the

future will look more like this house, with the exception of one thing. a special delivery from the famed beverly hills hotel, which by the way, is right around the corner. free dinner for three months. >> so you can have famous mccarty's salad and chocolate souffle five nights a week. connell: quite a story there. gerri willis on pandemic-proof or pandemic-safe mansions. i don't see anybody riding their bike to or from that mansion. us normal folks have been riding our bikes a lot more than we used to. the numbers are way up. in fact, grady trimble, you never know where you're going to see grady on a day-to-day basis, is looking into that particular story today. hey, grady. reporter: hey, connell. bike accessory sales are up, bike repairs are up and i think these racks speak for themselves. sales of actual bikes are up. the inventory is almost wiped clean of the more affordable options. here are the bikes at a higher price point.

still available at cozy's bike shop in chicago. sales up about 1200% year over year in july at the peak of sales, in the middle of may, they were up 5300%. the owner of this store says in that peak time, they had lines for about 45 minutes to get into this store and he just described it as a huge surge in business, which is absolutely welcome when many are struggling. listen. >> late march, right as the quarantine hit, the psychology changed and as we became essential, the lines started forming outside pretty quickly. i think it really hit chicago and the american consumer that bicycle is freedom and independence, and by second week of april, it was game on. reporter: about 1 in 10 americans say they rode a bike for the very first time in at least a year during the pandemic, looking for something to do to exercise with so many

gyms closed, people just not comfortable going to gyms, but on top of that, cozy's says they want to get on public transit. they are a lot more comfortable in open air on a bike instead and he expects that to continue for a long time, connell, because it's going to be awhile before people are ready to get back on public transit. so they would rather ride a bike. connell: yeah. we see it all the time around our neighborhood. but you're right, i think that they may be long lasting on the commute to work part of it. can you do it with the camera and everything, you have your bike, you managed that yet? >> i think i can -- they have got these e-bikes here which i think would be more suitable if i've got all the gear with me. that could give me a little extra propulsion to get me to work a little bit quicker. connell: okay. i don't want to challenge you or anything but i have seen jeff flock do it. not to say that you couldn't live up to jeff flock or anything. just saying that he's done that and more. i think he did it riding backwards once.

anyway, thank you, grady. good story, as usual. grady trimble out there in the chicago area, i believe. all right. we are working in a quick break here. market seems to have given back some of the gains. we are only up 13 on the dow but on pace for another gain here and the markets this week have had some nice gains, up 4% on the dow to nearly 27,000. we are just below it right now. big earnings aof the bell. tesla and microsoft. quick break. right back. hi, this is margaret your dell technologies advisor 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.

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♪. connell: so energy stocks are, i guess retreating today. they're all down. retreating is exactly what oil has been doing as oil comes back from a four-month high. likes of chevron, bp, exxon, see the stock prices come down as well. oil not down very much at the moment. it is just around $42 a barrel. we'll watch that through the afternoon. the other thing we'll watch are the tech stocks. it should be an interesting show when melissa and i see you on "after the bell" at 4:00 p.m. eastern time. tesla up 10 bucks which is nothing for tesla today or any other day. own hi half a percent but as we were talking earlier it is the stock to watch with these crazy runs up to 1577. microsoft no slouch either. it is a behemoth. tesla market cap 300 billion last time i looked. microsoft 1 1/2 approximately. second only in the united states

to a little called apple. melissa francis joins me 4:00 p.m. eastern time. we'll have the numbers pretty much as soon as they come out. as soon as we figure out what the company reported. we'll see you then. thank you for joining us here. i'm connell mcshane filling in for the great neil cavuto. over to one of other greats charles payne. take it over, charles. charles: thank you, connell. we'll watch 4:00 p.m. on the knows. good afternoon, i'm charles payne and this is making money. markets are bouncing around in very narrow trading range, you can actually cut the tension with a knife. there is more hopes for swift vaccine news as operation warp speed strikes again. the largest deal to provide americans with free doses of a vaccine. with the earnings results, connell talked about tesla, microsoft after the close. the results could move the entire market. what are we learning from other earnings reports already in? then there is the cold war.