dagen: thank you so much, lee, mike, and mitch. thank you one and all. great to spend the morning with you. this does it for us. "varney & company" is up right now. stuart, it's all yours. stuart: thank you very much. good morning, dagen. good morning, everyone. you know this could turn out to be a battle of the giants. microsoft wants to buy the u.s. operations of tiktok. currently owned and run by china's bytedance. tiktok has, what, about 100 million american users. if the deal went through, microsoft will be buying a ready-made social media platform. it could compete with facebook or even twitter. twitter or even facebook, i should say. investors like the idea. microsoft's stock is going straight up. lord & taylor filed for bankruptcy. another retail victim of the virus. it says it will conduct a big going out of business sale. other big names, jc penney,

neiman marcus, brooks brothers. they have all gone under. macy's has cut back dramatically. we're not shopping in department stores, not shopping in malls like we used to. the virus has changed a lot of things, has it not. another example, marathon is selling its gas stations to 7-eleven for $21 billion cash. the virus has helped cut the price of oil and gas dramatically. marathon is the largest u.s. oil refiner. we have a modest bounce for stocks this monday morning. the dow is looking at a gain of, what, about 150 odd points. look at that nasdaq. up over 100 points. nothing modest about that. big tech doing very well again today. the stimulus talks are stalled but they are still talking. i'll bet good money on a deal. three months to the election, very hard to see politicians not approving more spending. on the show today, election chaos takes another step forward. nevada joins the stampede and

okays mass mail-in balloting. do not expect a result on election night. you will see the president later. he's signing a buy american executive order in our 11:00 hour and we will take you there. and if you are waiting for vice president biden to announce his vice president pick, you are going to have to wait a bit longer. he's now delaying it at least another week. monday, august 3rd already. "varney & company" is about to begin. splashdown. >> as you can see on your screen, we have visual confirmation for splashdown. >> houston, we see splashdown. >> dragon endeavor has returned home. stuart: yes, it has. that splashdown was historic. the astronauts returning to earth sunday. i hope you saw it, in the spacex

capsule, splashing down in the gulf of mexico. the president tweeting about the great event. he says great to have nasa astronauts return to earth after very successful two-month mission. thank you to all. by the way, in our next hour, nasa's deputy administrator joins us. we want to know about deep space exploration and staying ahead of china. now look at apple. hard to believe this. it soared more than 10% on friday, hitting a new record high. susan, where does that put their total valuation? susan: $1.8 trillion with a "t" so fast closing in on the $2 trillion mark after that massive 10% rally on friday which added more than $150 billion on to its market cap. so that's an exxonmobil right there. also, biggest rally for the stock in almost five months. this after a record june quarter at the height of the coronavirus pandemic, mind you. iphone sales growing once again, record sales of music video and

cloud, back-to-school, work from home driving sales of ipads and macs and $194 billion in cash, cold hard cash, making it the 29th biggest company on the s&p 500. we heard about a few weeks' delay on the 5g iphone release but no big deal, as long as we get it out before the holidays. stuart: it's up another 8%, no, $8 this morning. tell me about, didn't they just buy somebody? susan: yes. apple buy mobiwave for around $100 million. mobiwave makes technology that lets shoppers tap their credit card or phone to process a payment. fairly similar to jack dorsey's square which is down on the news today or was down, now flat. you have square already does something familiar, very similar, it provides an attachment in the software so a waiter, for instance, can bring over their phone, bring you to swipe your card or swipe your phone in order to pay your restaurant bill. apple is getting bigger financial, fintech as it's called, adding to apple pay

which started in 2014, then launching its credit card last year, the apple card. traditional banks should be worried because a report just a few years ago said their biggest competition is not with each other but with technology giants like apple in the future. stuart: that's exactly right, is it not, with that purchase. up another -- i can't get over it, up another eight bucks this morning. let's get to tiktok and microsoft. there's another stock that's going straight up. microsoft wants to buy tiktok. they hope to have a deal wrapped up in september. the president is on board with it. market watcher keith fitz-gerald is with us. i suggested this could be a battle of the giants, microsoft going head-to-head with facebook and twitter. that would be a battle of the giants, wouldn't it? >> it sure would, but i think this deal could be a grand slam for savvy investors. microsoft is buying an existing social network, getting access to advertising revenue which they haven't had in any meaningful form and finally, they are literally acquiring another generation of consumers

that's going to ride them into the future. stuart: it would be reassuring to parents and grandparents because if they completed this purchase, as i understand it, the data would be transferred to america. it would not be in china's hands. am i right? >> as i understand the deal, that is what's going to happen. at the same time, there's also going to be a code review and some other things so put it in china or put it in microsoft, i will go with microsoft every time. boy, i hope to laugh all the way to the bank. stuart: you think microsoft is off to the races again? it's up another, what, five or six bucks this morning. >> oh, yeah. the fact that nobody thinks apple and microsoft can possibly go any higher is a de facto buy signal for me and has been for five years, as you well know. stuart: i do and i sold too early but that's another story entirely. >> you can get back in. stuart: i did a little bit. anyway, i'm not going to talk about it. now, the earnings season, we have just about broken the back of it. we are into the second, third or

fourth quarter, actually. what are you now looking at? what do you think the market is going to be reacting to? i think it's election risk. what about you? >> election risk and headline count on the virus, because again, we've still got the narrative of hope versus fear. as long as they can continue to move towards the hope, not the fear, and the democrats unfortunately are going to do everything they can to shift that into the fear category to mess with the president's chances of re-election. but again, making money, i think that bookends into financial things like visa, i think that goes into gilead, the pfizers of the world, defense tech is going to come on strong into the election. stuart: overall, you're not sufficiently worried about election chaos to do any selling now? >> correct. i think that this is like a rodeo. you got to make it to the eight-second buzzer. our job as investors is not to try to anticipate fear, it's to try to latch on to positivity. that's the profitable move. that's what i will focus on. stuart: thanks very much for joining us.

see you again soon. drug maker eli lilly, up 2.4%. nice gain. lauren, are they making progress with a virus treatment, not a vaccine, a treatment? lauren: yeah, they started a phase 3 trial of a covid treatment specifically for nursing homes. it's estimated that at least 8% of cases but more than 40% of deaths are linked to nursing homes. so eli lilly is working with a company as well as the government to see if they can prevent the spread of infection for those that live and work in a facility like a nursing home where there has been an outbreak. one more thing. older patients may get a more sufficient immune boost from an antibody treatment rather than a vaccine. that's also affecting the stock today. stuart: huge amounts of money involved in any kind of treatment or vaccine. you've got a global market for this thing. no wonder the stock goes up on good news. lauren, thank you. new evidence says youngsters, young children, may spread the virus more

efficiently than adults. i would say that's bad for the schools reopening. now dr. deborah birx says we are in a new phase of the pandemic. >> across america right now, people are on the move and so all of our discussions about social distancing and decreasing gatherings to under 10, as i traveled around the country, i saw all of america moving. what we're seeing today is different from march and april. it is extraordinarily widespread. it's into the rural as equal urban areas and to everybody who lives in a rural area, you are not immune or protected from this virus. stuart: all right. monday morning, look who's here. dr. marc siegel, fox news medical contributor. doctor, first, i want to deal with the story that virus is spread more efficiently by young children than adults. i would say that's real bad news for getting back to classroom learning. what do you say? >> we don't know if that's true

yet. it's a study that came out of chicago, 145 kids under the age of 5 had a lot more of the virus in their noses when they were sick, mild to moderate illness. the issue is, though, that they are much less likely to get covid-19 still. if you are very young, urndz nde age of 5 with mild symptoms, you are much less likely to have virus. in italy and in south korea, by the way, kids up to the age of 14 in italy and up to the age of 19 in south korea, they looked at contact tracing and found that they were twice as likely to spread it again, if they were sick, under the age of 19 in south korea under the age of 14 in italy. here's the rub. in south korea, the vast majority of this spread went on in households. so in other words, don't assume that if kids go back to school that's going to increase the amount of virus spreading. they are already spreading it at home. they are much more likely to spread it at home. yes, the news out today is that

kids may be more likely to be spreaders than we ever thought before even if they are mildly ill but that doesn't take schools off the table, especially in non-hot spots. even with what dr. birx is saying, there is definitely hot spots there. it's not that it's rampant everywhere. certain areas have more virus than others. if you are in an area without a lot of viral spread, that may be where the schools can reopen. stuart: that's good news. thank you very much. good to see you this monday morning. dr. marc siegel. thank you, doc. check futures across the board. we are going up. i see a nice spread of green there. 140 up for the dow. a lot of the dow's gain is accounted for by apple and microsoft. both those stocks are dow stocks and they are both up strongly. first, the pandemic. now growing violence rocking big cities. how will this affect the presidential election? we will debate that. supporters of joe biden urging him not to debate president trump. isn't that because they want to avoid moments like this.

watch this. >> all men and women were created by -- you know the thing. >> i'm going to be joe biden. >> thank you very much. >> it's chris. >> we choose truth over facts. stuart: ouch. voters need to know how joe biden and president trump stack up against each other. surely they should be debating. more on that coming up. earnings season winding down but it's not done yet. big week for your money. 127 s&p companies reporting this week alone, including disney. they come out tomorrow. "varney & company" just getting started. ♪ looks like they picked the wrong getaway driver. they're going to be paying for this for a long time. they will, but with accident forgiveness

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stuart: yes, it is another big week for your money. disney, beyond meat, uber and many others are reporting. ashley webster, welcome back. good to see you again, young man. ashley: thank you. stuart: who should we be watching most closely this week? ashley: well, it's interesting. i was looking at the whole list and you know, those that survived and those that thrived. i wanted to talk about one company that just reported this morning and most certainly, has been thriving since, of course, this pandemic began and that's clorox. the company that makes all those, you know, the disinfectants, the ones we couldn't find in the supermarket. it's their fiscal fourth quarter. if you take a look at what they did, revenue coming in at $1.98 billion. that was up 18% year over year. sales were up 33% year over year. the earnings per share, well

better than those much vaunted estimates of $241. very good indeed. clorox announcing a new ceo today, linda randall, long-time executive of the company. now, on the other side of the coin, hilton. oh, yes, been a rough go as we know for the hotel industry, the travel industry in whole. they report on thursday. year to date this stock is down 32%. we are expecting a loss from hilton on thursday of 31 cents a share. revenue down 66% year over year, coming in around, we believe, $848 million. my, oh, my. also announced in june it was cutting 22% of its corporate work staff. by the way, there's a very important number, revenue per available room. that could have dropped in april by at least 90%. it could be a rough report this thursday for hilton. stuart: i tell you, the virus

has changed just about everything, hasn't it? it really has. including this, by the way. here's a news item. this is about the virus. mcdonald's making some changes. they are hinting that an upgrade for their chicken sandwich, okay, but they are also talking about getting rid of those ball pits. i'm not exactly surprised. real fast on this, ed rensi, former president and ceo of mcdonald's, joins us. i'm not surprised. i can't see letting my grandchildren run amok in those ball pits. how about you? >> well, obviously mcdonald's and all restaurants are very sensitive to sanitation and disinfection. those ball pits are really a nightmare to keep clean all the time. that's a lot of labor, lot of expense, and lot of kids go in there. i think it's wise of them to suspend its use and probably get rid of it long term. more and more of their business is delivery. more and more is drive-through. stuart: talk about business across the board. does business in america today need a phase four stimulus plan?

>> for lots of reasons, we sure do. i don't understand why the democrats are stonewalling the way they are. the reality of it is there's a couple key ingredients. one, there's a lot of people that need the income desperately because they can't go back to work. there's some folks that don't go back to work because they're making more money but i think that's a vast minority. the other thing is liability insurance for small businesses. i'll tell you, the lawyers are going crazy right now. small businesses can't afford a rush of lawsuits over the issue of they didn't do enough to protect me, the employee, from covid virus. the unions are taking advantage of this situation and that liability protection will bankrupt companies so fast, it won't be easily understood. stuart: i got to know about liability protection. i will pretty much -- i would bet good money that there will be some kind of stimulus plan

agreed to in the very near future because we are three months to an election and politicians love to spend money in that situation. you with me? >> absolutely. they love to spend money all the time. they take your money, my money and everybody else's money and waste it, a lot of times. we've got to get this economy going and they've got to come to the table for the election, okay, but more importantly, the people on main street are suffering. we've got to do something about that. we've got to get this economy going. stuart: i don't think democrats really care that much about business but that's an editorial comment on my part, not necessarily yours, though i can see you smiling so i think you agree. ed rensi -- >> i do. stuart: i knew you would. thanks for joining us, ed. see you soon. promise. the screen, look at it. that's midtown manhattan. it's monday morning. what is it, 9:20. not many people, hardly any cars. retail rents, tell me about them, lauren. they've got to be sinking. lauren: well, that shot is just

one avenue from the famous fifth avenue. fifth avenue and 15 other luxury shopping districts in manhattan saw their rent drop to an average $688 a square foot. the first time since 9/11 that rent went under $700. it's a decline of more than 11% from last year. according to the commercial real estate firm cbre. at the same time, if you look at the number of ground floor leases that are available, that reached a record high of 235. so again, the pandemic is not only reshaping but also repricing trophy properties and what's going on in manhattan, in the high end areas here, serves as a leading indicator for other glitzy shopping districts, vegas, chicago's miracle mile, you name it. we will start to see this in other places, too, if they haven't already. stuart: it is inevitable. fek effects from the virus are spectacular. another retail ice age story.

on the chopping block, lord & taylor. susan, they are bankrupt. susan: nearly 200 years old. the department store chain is the latest victim of the retail ice age, having to close all 38 stores in march, owing to coronavirus. it was just sold last year for $100 million to a clothing rental startup which also filed for bankruptcy. lord & taylor changed hands numerous times the past few years with owners including saks and hudson bay who was still paying rent for a number of stores. we have seen a number of retailers file for bankruptcy since may including neiman marcus, j. crew, jc penney. it's a tough retail environment. if you're not big in online sales, you are in trouble, as we have seen over and over again. stuart: over and over again. you're right. thank you. check that futures market. we are going to open the market in about four minutes, six minutes, actually. we are going to be up across the board. solid gain for the dow. much of it is because of apple

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stuart: these are premarket quotes on some big name technology stocks. apple, up. amazon, up. look at apple, up again. or next guest says maybe we are relying too much on these big tech names to boost the rest of the market. look who's here. jeff sica, circle squared alternative investments. i take your point because if you put apple and microsoft together this morning, they account for almost all of the dow's gain. too heavy reliance on them. go ahead. >> here's the thing. the four most dangerous words for an investor are "this time it's different" and investors right now think that a very narrow market, you have six stocks which are accountable for roughly two-thirds of the gains in the s&p 500. so you have the haves which are those six stocks and then you have the have-nots which are all the rest. and there's this massive chasm

between the two. so everyone says you should be diversified. most investors today, if they're really exuberant today and happy about what's happening, they're not too diversified because they own those big tech stocks. assist b stuart: but jeff, hold on a second. those big tech stocks are the future. they've got earnings, they've got profits, they've got cash, they're expanding market share, moving into all kinds of different industries. they are the future. no wonder we are concentrating our investment dollars in them. >> that's exactly true. well, here's what's happening. covid was -- the rest of the economy suffered but big tech really benefited from covid. those stocks which once were considered cyclical are now considered defensive, believe it or not. you are right, they are the future. but there needs to be a broader rally for us to really sit back and crack the champagne.

it's way too early for that. stuart: got you. jeff sica, good point to raise this morning. thanks for joining us. we've got ten seconds to go. the bell is about to ring. after it stops ringing, they will start trading and we will be offer and running. we are looking for some green this morning. both the nasdaq, the dow and the s&p. here we go. 9:30 on august 3rd already. we have opened with a nice gain, up about a half percentage point for the dow. not all the dow stocks are open yet but those that are open, they are on the upstieide. apple, i can't quite see it there, it's at an all-time high. the s&p 500, i'm sure that's in the green. yes, it is. the percentage gain is a little bit better than the dow. look at the nasdaq composite. that again has hit another all-time high. 10,800 level now for the nasdaq. microsoft, showing you that now because a very solid gain, 3% up right out of the opening block. president trump giving them 45 days to buy tiktok.

investors like the idea. back to apple. now clearly the world's most valuable company. $1.8 trillion is their value. they are up another six, seven bucks this morning. $431 on apple. next one, big shakeup in the home security business. susan, google is buying a stake in adt? that's a home security business. what's it all about? susan: you see the signs on a lot of lawns across america. interesting deal here, half a billion dollars worth, it partners up adt with google's net home security device. think of nest cameras, doorbells and alarm systems and now they can all connect to your adt security system and they will also use adt's expert installation know-how to get those devices accurately into your home. adt expects to offer certain google devices to its customers starting this year and then more in 2021. both companies have committed $150 million to extend that partnership going forward. i think this is pretty

interesting. stuart: but that's that nest thing on the side of the wall there. susan: and your fridge. that's right. you have cameras and thermometers. that's what it works on, right. interesting that security combined with i guess home management. stuart: look, i'm sure it's the way of the future. it's just that i'm not an early adopter. as you well know. susan: yes. i'm trying to think of technology you are an early adopter in. the abacus. stuart: stop it. i'm moving on. let's talk about disney. they report tomorrow. lauren, when they report, this is all about the impact of the virus, isn't it? lauren: yeah, including disney plus. aside from streaming, the pandemic has been a perfect storm for disney. we will see the full damage tomorrow. look, wall street is not interested in how bad things were. they want to see how good they can be now that sports are coming back, theme parks are opening. still, look, disney's going to report a loss. revenue will drop about 40% to

$12 billion. and the stock has felt the pressure. it's down a little bit today, down 19% this year, and the dividend has been suspended. but thanks to their streaming service, disney has outperformed many of their competitors. if you look at discovery as well as viacom cbs, both their shares are down 36% each this year. stuart: walking it up the earnings report, they are down just a little bit this morning. got it. next case is uber. they report thursday. susan, is this going to be pretty or what? susan: it won't be pretty. i think we are used to that. another quarterly loss with sales expected to fall around 30% from last year. investors will be looking for signs of momentum of recovery as the quarter went on. was there any recovery from may onward, especially in places that actually started reopening. also, food delivery. uber eats, how much did business increase with lockdowns of people not eating out and ordering in. uber recently buying up most postmates for over $2.5 billion. last year, uber was food

delivery was up 30% and we will see if the trend loeldz. they have never made a progress. makes you wonder if you want to invest in them since they are trading below tlheir ipo price. stuart: what's the offer price? susan: 35. stuart: way below. thanks, susan. how about paypal and visa. ashley, they are winners because they are all going shopping online, right? ashley: we are all going shopping online. the numbers have been very impressive. if you look at the numbers, listen, it's interesting because if you look at the credit levels of people, they have actually come down. people have been inclined to save their money in such an uncertain economy. however, when they do spend money, paypal and visa and mastercard, for that matter, are all very popular choices. it's interesting. on the one hand you have the consumer pulling back a little bit because of the economic uncertainty but these types of

companies, paypal, visa and so on, are doing very well because you can just go online, can you not, and type in the numbers and away you go and have it delivered. stuart: it's so easy. it's so user-friendly that it takes the place of getting in the car and driving some place to buy an item or two. a whole new world for people like me. all right. thanks, ash. check the big board. we've got a solid gain, over 100 points higher. a lot of that gain, though, got to tell you, is because of microsoft and apple. i just checked microsoft. it's up eight bucks now at $213. the ten-year treasury yield, .56% this morning, up a little bit. where's gold? is it edging towards or away from -- it's moving -- it's down a bit this morning, down a buck. at $1984 it's pretty close to $2,000 an ounce. bitcoin, still around $11,000 per coin, i think, as of this morning. the price of oil is around $40 per barrel.

$40.48. that's oil for you. speaking of oil, have a look at marathon. ash, answer the following question. what does marathon have to do with 7-eleven? ashley: well, marathon is a huge fuel provider and 7-eleven has gas stations. so guess what? marathon is going to sell its station chain to 7-eleven for $21 billion all in cash. this is the biggest deal in the energy sector this year. marathon has been under pressure to spin off this business from activist investors like elliot management. last year they spun off their speedway division. that means 7-eleven's footprint in the u.s. and canada goes to about 14,000 locations. under the deal, i was just reading that marathon is going to supply 7-eleven with 7.7 billion gallons of fuel per year for 15 years. there you go. marathon supplying the fuel for

7-eleven. stuart: it does make sense. if anything, that makes sense. i've got to say it. all right. ladies and gentlemen, be sure to watch this program at this time tomorrow, because at 9:30 eastern, our very own maria bartiromo will be downtown. she will be ringing the opening bell on wall street. i hope she waves. we will certainly cover it. this time tomorrow, maria. coming up at 11:30 this morning, eastern, president trump will be signing an executive order on hiring american. we will take you there when it happens. he may have a few comments. look at this. devastating comparison. new york city shootings so far this year have already surpassed the total for all of last year. we are going to discuss how the growing violence will affect the election. secretary of state pompeo warning tiktok users that their personal information, including facial recognition, could be going directly to the chinese communist party. hear what he's got to say about that next.

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these chinese software companies doing business in the united states, whether it's tiktok or wechat, there are countless more, as peter navarro said, are feeding data directly to the chinese communist party. the facial recognition pattern, information about the residents, their phone numbers, their friends, who they're connected to. those are the issues that president trump has made clear we are going to take care of. these are true national security issues. stuart: there's some really strong words there from the secretary of state about tiktok. susan, why don't you come into this and give us more on microsoft's buying tiktok? susan: they have 45 days, 45 days to come up with a deal and

if you take a look at the price action today, microsoft rallying big, 4.5% now because wall street thinks they will get to buy tiktok at fire sale prices, well below the $50 billion that tiktok was last valued at. microsoft acknowledging the talks last night, highly unusual in these takeover discussions. microsoft saying that following our conversation between microsoft's ceo, and president trump, microsoft they say is prepared to continue discussions to explore purchase of tiktok in the u.s., adding that they are aiming for september 15th to finalize the deal. meantime, the chinese owner of tiktok, bytedance, issuing a statement in china last night that the deal was one of several options they say they still have available and there might be other suitors out there. there has been a long history between microsoft and bytedance. the billionaire who started bytedance used to work at microsoft before starting his own company. also, microsoft doesn't have any antitrust hangover like more obvious suitors like google and facebook and microsoft is known

to extend a lot of autonomy to companies it buys. remembered linkedin, $26 billion acquisition, social media company, by the way, if 2016, largely left to its own. that's why microsoft might be the best suitor for tiktok in the short term here. stuart: down the road, is it possible that microsoft owning tiktok would compete with facebook and/or twitter? are they on the same plateau then? susan: look, we have tiktok, it has 2.2 billion downloads around the world, 800 million global users, 100 million u.s. users and fast growth as well. microsoft tends to buy more enterprise business focused software and technology so this is interesting that they are getting into shall we say retail and younger technology and social media. i think that's the best for them, especially if they can buy at a really cheap valuation, think of $5 billion instead of $50 billion. stuart: whoa! whoa! if that would be the price, that would be an absolute steal. would it not? no wonder the stock is up. microsoft is now up nearly $9 a share.

susan: that's right. stuart: extraordinary stuff. let's get back to another zooming stock. that is amazon. they had a fantastic quarter reported last week, sold almost $90 billion worth of stuff in a 13-week period. our next guest bought them on friday as the stock was going straight up. our guest is gregg smith with evolution partners. okay, gregg. you bought the stock on friday at a lofty level because i think you think the stock is going to $4,000 a share. make your case. >> i think that's right. good morning, stuart. yeah, despite the grilling of all the tech ceos last week, tech companies puts up a remarkable quarter last week. i walk around the streets of new york city and i see a growing and endless tidal wave of brown packages with smiles on them going into people's buildings. if you also weigh that against the decimated retail landscape of so many stores closing, and

just the weak outlook and people sitting at home and working at home more, i think this bodes very well for amazon. stuart: to repeat, you do think it's going to $4,000 a share. you have said so on this program before. give me a time frame. >> i do. i shared with you back in may, i bought amazon under $2400. i was crazy enough to believe that it's going to go to $4,000. i think the other theme that's emerging here is the growing call from the democrats to break up big tech. many people might think this is a head wind for tech but i actually think this could be a positive. spinouts have been terrific for shareholders in the past. look how much value barry diller's i.c. created by spinning out companies or ebay with paypal. what do we think the value of amazon web services would be if amazon announced they were spinning that out? i think that could actually bode well for shareholders, if we do see a breakup, quote unquote, breakup of big tech. in terms of amazon, i wouldn't be surprised to see amazon trading at the $4,000 level in

2021. it seems to be on fire and i would like to see it pull back so i could add more to my position. stuart: okay. brave man. how about facebook? i know you also bought either more of facebook or you bought some facebook on friday, at what, $250 a share. make your case. why are you buying at that lofty price? >> look, i think we are in a check and raise situation in light of these earnings. i said to you before in the market, i believe the buyers are higher. there's a lot of cash on the sidelines. these names are working. in my private portfolio, i have invested in more than 100 private companies. any of these companies that are selling products to consumers on a direct-to-consumer basis have told me they're not spending less on facebook, they are spending more on facebook. why? because it works. they are acquiring customers at a fair price and it's helping them grow their business despite the boycott from some of the big corporate names on facebook. for many of the smaller companies it's working and they are spending way more on facebook. stuart: are you a billionaire

yet? >> no. i don't have aspirations going there. not this year. stuart: what's wrong with you, son? not this year? not this year? you caught yourself. >> -- all the dress clothing retailers. i don't know how much longer we will be wearing ties. stuart: i agree with you on that one. see you again soon. thank you, sir. how about best buy? they are now paying all of their hourly workers $15 an hour. that's part of their pandemic compensation plan. the stock is at $100 per share. doing well. we are just, what, i think 91 days away from the election. i say we are moving full speed ahead towards election chaos. i will make my case about that in the 11:00 hour, right at the top there with my take. pinterest up again today, 7%. up again today after a gigantic move last week. what's with that? we will explain pinterest after this. ♪

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stuart: the important point on the markets this morning, in my

opinion, is the nasdaq, which is up 130 points at 10,874. that's a brand new all time high. what you're looking at is the future of the economy. the nasdaq represents technology. the future of the economy is technology. that's why it's up so much as we speak. now, one of the themes on this program is all about our changing economy because of the virus. just look at pinterest, for example. it's up 7% today and it was way up last week. i don't understand why. i'd like to figure out why a company like pinterest is doing so well. we are going to bring in holly jacobis, a big pinterest investor, knows all about this company. let me ask you this. pinterest, as far as i can see, it's an online bulletin board. lots of recipes posted, projects are posted and you update your project. why is this doing so well in the era of the virus?

>> thank you for having me. you know, we invest in companies that create delightful moments and i think that's what this comes down to. people are scared, and they are at home most of the time and they are looking for a way to create a sense of control. it's sort of a space for themselves, to make them happy consistently. i think that's what it's about. stuart: i'm not a user of pinterest, i don't follow it closely, but you are telling me that you invest in companies that create delightful moments. explain. >> exactly. certainly. so we believe that at the intersection of health and happiness are these companies that create these consistent delightful moments. example of that can be a great cup of coffee or a wearable that helps you control your temperature or maybe an e exoskeleton [ inaudible ].

it finds a way to improve your life consistently and incremental incrementally. people will purchase those types of products. if you can do that in online fashion or physical fashion, there's real value there. stuart: you invest in companies that create these delightful moments and we all need delightful moments at the time of the virus and the lockdown and stay-at-home and all the rest. that's the premise for your investment strategy. so okay, you invest in pinterest. what's this copper cow coffee? and lark health? tell me more. >> sure. yes. we have been around for awhile. it was one of our earliest investments, ten years plus. we are now [ inaudible ] just to be clear. copper cow coffee makes a lot of different types of coffee products. i actually personally use them when i'm camping, interestingly enough. if you were to look at their

assets, though, it's really all these different types of really interesting flavors of coffee. stuart: okay. i'm sorry to interrupt you. i'm almost out of time here. i just want to say, thanks for coming on the show and opening up a whole idea of investing in delightful moments during the pandemic. that's exactly the kind of information we are looking for. we appreciate you being with us. holly jacobus, thank you. see you again soon. >> thank you. stuart: still to come, look at this. white house chief of staff mick mulvaney. does he still think we are going to definitely get some kind of rescue program? that's what he said on the show last time he was on. former bloomberg pollster doug schoen on joe biden delaying his pick for vice president again. charles payne on what i call election risk in the markets. talk about that. and economist stephen moore, who says we absolutely must not have another lockdown. we'll be right back. ♪ ♪

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without the commission fees. so, you can start investing today wherever you are - even hanging with your dog. so, what are you waiting for? download now and get your first stock on us. robinhood. stuart: 10:00 eastern, 30 minutes into the trading session, here's where we stand. plenty of green. dow is up 150. nasdaq up 139. we're really talking about technology which is going straight up at that. microsoft and apple, for example, both stocks, they add 200 points to the

dow industrials. that is microsoft and apple alone. by the way the president has given microsoft 45 days to buy tiktok. that is helping the stock obviously. it is up eight bucks. apple is up another $19 a share. clearly by a long way, the world's most valuable company, 1.8 trillion. that is what it is worth. adt and google. shares were up, the stock adt crossed its ipo price of $14 for the first time ever. this of course after google will invest $450 million into the company. adt is up 75%. google up 2 bucks at 1490. we got the latest read on manufacturing. ashley, give us the number, please. ashley: 54.2, which is better. we were looking for a 53.6. the expansion modest as it is is going on the manufacturing side.

up from 52.6 in june. the low point was 41.5, that was in contraction in may. even that reading was better than everyone hoped for. we're seeing signs of improvement on the manufacturing side as it continues to expand. way below prior pandemic, still hitting in a right direction. that may have helped the market, ash. now we moved up on the dow, a solid gain of just over 200 points. ash, thanks for that. look at price of lump before. we don't deal with that very often own the program. it is up. going straight up, actually. sawmills can't keep up. lauren why? explain it all. lauren: this is fascinating. we've been talking about a housing boom but now there is wood shortage that combs with it. lumber prices more than doubling since april. contractors are constructing new homes, decks, putting in amenities like outdoor showers. you have stuck at home homeowners doing many projects

by themselves. the up shot here as building materials get more expensive, harder to find, homes might become more expensive. the timetable to complete a project, that could get pushed back continually. this is good problem to v the housing market is booming. the price of wood is going up. there is less of it. stuart: i am a tree farmer. i grow hardwood timber. i'm talking about my own book. lauren: what you're finding? stuart: prices are up. it varies from wood to wood, which different kind of wood you're talking about but overall prices are up. talking up my own book here, am i not? thanks, lauren. lauren: still can't see you building a home with that wood. stuart: no the wood, no, i've got hardwood. you know, like black cherry and red oak. that kind of thing. hard maple. goes into furniture and flooring that kind of thing. as opposed to two by fours you construct a house out of. you got that? thanks, lauren.

lauren: got it. stuart: gave my income a boost. we appreciate that. news on the stimulus talks. this is important, chad pergram, our die in washington, speaker nancy pelosi, senator chuck schumer, white house chief of staff mark meadows, and treasury secretary steve mnuchin will be meeting 1:00 eastern time today in the speaker's office. mick mulvaney joins us right now. former office of management and budget director. mick, when you were last on this program, there is definitely going to be a stimulus package. there is no way three months before an election you stop the politicians spending. i take it you still think the same way, we're going to get a deal? >> i still do, stuart and at the end of this conversation i hope we can talk a little about silba culture, i didn't know you were a wood farmer as well. the senate was scheduled to be in washington, d.c., this week. the house was scheduled to go home.

i think they were getting a deal. i was a little surprised republicans didn't take them up on short $600 a week. those things are hard to explain back home t shows how politically sort of divisive this discussion is right now. but i do think they will have some sort of conversation this week and hear's why. all of these men and women in the house especially are going to go home to campaign. they will do a little bit of vacation which everybody hates to give up. they will have to campaign. it is very difficult to say you didn't get a deal done when you are in the majority. i've been on the flipside during 2010 to 2016 on various things including government shutdowns. hard to do that when you're in the majority. the pressure on nancy to do something this week will continue to grow. stuart: we were told it will be between one trillion dollars worth of extra spending, that is kind of the republican view, i know it is vague and three trillion from the democrats. will we split the difference and end something like $2 trillion

of extra spending? >> i hope not. that is just focusing on the numbers. when you get down to a deal in washington, d.c., when you're just talking about numbers things tend to get done but i do think there are some policies here that are making it more difficult to split the numbers and get out of town quickly. nancy said that is $600 is not negotiable. that is a tough stance to take this is it federal kicker on top of the state benefit. the longer it goes without being paid, because the money ran out last week, it is harder to get it back to folks that need it. on other side of the equation, mitch mcconnell saying the liability protection is non-negotiable. those things are tough to get a deal. when both sides say something non-negotiable maybe that is fundamentals of the deal. i think they have to do something, this week, even if it is temporary. stuart: the president tweeted about the payroll tax cut. payroll tax cut plus dollars, et cetera, et cetera.

look you can't get a payroll tax cut before the election because congress won't go with it. so you have to have a trump win to get a payroll tax cut, don't you? >> i know stephen moore will come on here a few minutes maybe about the payroll tax cut. i've never been the biggest fan but i appreciate what the administration is trying to do. the president is trying to figure out a way to get money to folks who need it as quickly as possible. keep in mind, stuart, one of the things lost in these discussions about the next stimulus, all the money from previous stimulus hasn't been spent yet. it is trillion 1/2 dollars that hasn't flowed out from the cares act. stimulus money coming from washington, d.c. is slow. one of the fastest ways to get it, unemployment compensation. it is hard to do it on a big scale. there is some discussion in washington, d.c., especially amongst fiscal conservatives, especially those in the senate, saying you know what? maybe no deal is better than a bad deal. maybe we wait and see.

you saw manufacturing numbers better than expected. saw job numbers, little better than expected. retail sales, home sales. maybe we're already on the way out of this thing, trillion dollars plus still in the cares act hasn't been spent will be enough to get us back where we need to be. stuart: but at the end of the day there will be more money out of these meetings? >> yeah. you have recession in election year. that is usually formula for more government spending. stuart: guaranteed. at some point in the future we'll talk about lumber production and hardwood timber growing but probably not now. because i'm a little out of time. mick mulvaney, thank you very much for joining us. we appreciate it sir. >> thanks, stuart. stuart: take another look at microsoft. the president says microsoft has 45 days to buy tiktok i should say. microsoft is in talks to buy it t follows scrutiny from the secretary of state. look, the bottom line is this, microsoft is in talks to buy ticktock. here is what mike pompeo had to

say about it all, roll tape. >> chinese software companies doing business in the united states, whether it is tiktok or wechat, there are countless more. as peter navarro said, our feeding data directly to the chinese communist party, the national security apparatus. could be facial recognition patterns t could be information about the residence, phone numbers, friends who they are connected to. those are issues that president trump made clear we'll take care of. these are true national security issues. stuart: investors love this idea. microsoft's stock right now is up 764. $212 a share. how about zoom? it says it will stop direct sales to users in china. susan, why are they doing this? susan: they don't want to face the same fate as tiktok here in the u.s. zoom also faced scrutinies over its ties to china after rerouting zoom calls through china and ending zoom calls on hong kong protests

mentioning tianamen square. as a result, zoom will not sell new or up graded products directly to customers on the chinese main land. they're trying to shield themselves offering videoconference services via third party partners so they don't have to take the direct blame. that hasn't stopped zoom's rally this year. we're up close to 5% in the session. up close to 200% on the year. not bad. stuart: one more thing, susan, what is this about apple being sued by a artificial intelligence firm? susan: another sign of difficults for u.s. companies doing business in china. a company is suing apple that siri voice infringes on its patent. the patent was only granted recently to the shanghai company. siri has been around almost a decade since 2011. if the chinese company wins the lawsuit, it threatens apple's entire main business of selling iphones in china, its largest international market outside of the u.s. where it gets roughly 20% of its sales from.

cook pointing to recovery in china after the recent quarter after a drop in the first quarter because china went through covid first. take a look at apple's stock. is crazy, we're up 4 1/2% again today. stuart: again. that is the operative word. 10% friday. 4 1/2% today. susan: how many billions, 80 billion, 70 billion, something in that range? stuart: like adding a whole s&p company in june day to the value of your stock. amazing stuff. now this, welcome back, ash. you're joining us from florida. tropical storm isaias is on root to the carolinas i believe. what do you have for us? ashley: it is. a lot going on here. i'm in northeast florida, just south of jacksonville, just a couple miles from the coast. still under a tropical storm warning but for the last several days people are being prepared, wondering what it was going to do as is the case with the hurricanes you never quite know where they would to.

it brushed right along the coast where i am. the sum total was couple palm fronds on the ground and wet roads. nothing else to talk about. storm surge as you said, stu, this storm pushing towards the carolinas. north carolina declared a state of emergency, which does bring up an interesting question and a complicated one when they open shelters. if people want to go to shelters in this pandemic era, of course they will have to do very thorough screening before someone is allowed into those shelters. if they do exhibit any signs, we're told they will be directed to another location. but the storm itself, so far hasn't done a whole lot of anything but, you know, i don't want to speak too early, because the carolinas are in the path. it could be a storm one hurricane by the time it gets there. stuart: by the way, ash, would you please pass along our best wishes to your mom. i know you're down there helping out mom in these difficult times. our best wishes to her. ashley: of course.

thank you. stuart: happening 11:30 eastern this morning president trump will sign an executive order on hiring american. when it happens you will see it. he might make a few statements. we'll bring it right to you. big cities on the brink, first from the virus, then from weeks of violent unrest. we'll tell you how this may affect the upcoming election. joe biden delaying his decision on a running mate by another week. he has been backed into a corner playing identity politics may cost him. my take on that coming up next. ♪ liberty mutual customizes your car insurance, so you only pay for what you need. i wish i could shake your hand. granted. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪

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stuart: joe biden is giving himself another two weeks to name his vice president. that's cutting it real close. i can't remember any previous presidential election where the veep pick came so late. so why the delay? well republicans eager to score points say it is because there are no really good candidates. well you would expect the gop to be critical, but biden, he has put himself in a corner but limiting his choice to a woman, probably a black woman. that clearly limits his range of choice. he has deliberately excluding all white men. that is a big political gamble. he is going with identity politics. in a party that is trying to unify, that in itself might be a problem. a narrow focus on gender and race does not bring a party together. how does he bring bernie voters into his campaign? biden could not nate senator elizabeth warren. she is out there on the far left just like bernie. but nominating her would

exclude, kamala harris, susan rice, val demings, any other woman of color. a racial contest does not unify any party. the delay, that make makes it worse. there is another two weeks for the candidates to snipe at each other, and another two weeks for the trump campaign to go after all of them. you will be seeing senator harris savaging biden on busing. you will hear a lot about karen bass's support for fidel castro and scientology. interesting some democrats are urging biden not to debate the president. more evidence that the party is nervous about his ability to focus. nervous about his grassp of the facts. now they're nervous about his veep choice. delaying things and avoiding serious questions does not help. doug schoen is with us, former bloomberg pollster. doug, i don't think this delay in picking a vice president really works in his favor. do you? >> no, i don't think it works in

his favor but the problem stuart, as you said, there is no obvious choice. "the washington post" had run a very tough piece on susan rice. we know the negatives on kamala harris. they're probably the two front-runners. joe biden is trying to figure out who can offer probably the least harm to the ticket and ultimately satisfy the constituency groups, the far left, african-americans, hispanics as well. stuart: i think this idea of him not debating the president, i know it is not his idea, but some democrats are saying don't debate him that makes him look very vulnerable? >> i think the problem that joe biden has is having himself said he would do three debates. knowing full well that that is a challenge for anyone debating donald trump but a particular challenge for him at this point. i think this drumbeat for

debates is a way to maybe do one debate at the end, limit the time and try to limit the scope. that would be my guess, stuart. stuart: doug, i want to talk to but the impact on the election. some of the violence we've been seeing and joe biden's position here. over the weekend 30 people were shot in chicago, nine fatally. that includes a child. in new york city we've seen more shootings in the first seven months of this year than we did all of last year. 793 right now. "wall street journal" reports homicides across all cities are up 24% this year. this is real violence in our cities. does it have an impact on the election? >> so far, stuart, the issue has not cut strongly for the republicans. the polling shows biden is slightly ahead of the president in handling violence and crime but it could turn, stuart. look, none of us want violence.

none of us want the homicide rate up. but should it go up, i believe this is a much more politically potent issue for the president than anything else he has been running on. though it is not clear to me it will ultimately help him but certainly the possibility is there. stuart: at the moment biden enjoy as lead of about seven or eight points in the average of all polls. would you expect that to narrow or expand in the next 91 days? >> i suspect if anything, it will narrow a bit, stuart. a number of the seven to eight points of support that biden enjoys over trump comes from independent-leaning republicans and republicans who for whatever reason have issues with the president on coronavirus or economy or some other issue. my guess we're looking at a four to six point election now for

joe biden. but again, i, have said on this show and i will reiterate, this election is not over by any means. we have a long way to go and 90 days in politics is a very long time. so i give the democrats an advantage but, again, anything can and probably will happen, given what has happened so far. stuart: in the year 2020, 90 days is an eternity. >> it is an eternity. stuart: absolute eternity. doug, thanks for joining us. we'll see you again soon. >> i look forward, thanks. stuart: look at the markets again, please. this is a technology story. the dow has apple, microsoft in it. they are both way up. that helps them. look at nasdaq up 120 points, new record high for nasdaq. that is all about technology. a lot of sports news for you. ash, come on in. tell me about the changes in baseball. ashley: they're trying to figure this out as they go along, stu. we know 2/3 of the miami marlins

roster tested positive for the coronavirus. st. louis cardinals have numerous members of that team testing positive. as with the philadelphia phillies. the big issue is contract tracing. mlb says look, the cdc says we should contact or pay attention to anyone who has been in close contact with an infected person within six feet for longer than 15 minutes. they say that is just not workable. it is completely insufficient and they found it does not work. major league baseball is not operating in a bubble like the nba. it has been very hard to restrict players and coaches away from the field. not like they're going out having parties every day but it is very hard to rein in. they're trying to figure out how to combat the spread of the virus. major league baseball commissioner rob manfred says we're not going to quit. the season will carry on. there are real questions being asked on with some games having to be canceled. stuart: tell me about football because i believe the virus hit

the philadelphia eagles? ashley: the head coach doug pederson tested positive. they say he was asymptomatic, has shown no signs. is doing very well but now in self-quarantine. the nfl season we know already canceled the preseason. the season is expected to get underway on september the 10th. you know, talking about a sport with a lot of contact that is football. we talked about this tiki barber and others. it will be interesting to see how the nf fares with the virus continuing to issue. stuart: for the virus, there is issue for standing otherwise for the national anthem. nba players involved in this tell me more. ashley: we for so long talking about players, who weren't standing or taking a knee. except for those sometimes stand. it is completely opposite world. miami heat center myers leonard stood up, you know what? he wore a black lives matter

t-shirt. i can be a patriot and supporter of the blm campaign. i believe in both. but my patriotism runs deep. orlando's jonathan isaac, also was the first to stand up during the national anthem on friday. he says i'm an ordained minister. to me it is important to stand up for the national anthem. we also saw head coach of the san antonio spurs, gregg popovich and his assistant also stand up. so sporadically we are seeing this. everyone involved says it is not that we don't support black lives matter. we are patriots and we want to show that respect. stuart: ash, got you. thanks very much. coming up we have a gentleman with a plan to future proof sports and get fans back into sports stadiums. he will make his case and tell us how he will do that later this hour. on your screens the first splashdown in 45 years. the astronauts, americans, safely landing in the gulf of mexico. i want to know what's next for

deep space exploration and are we staying ahead of china? good questions. i will ask nasa's deputy administrator about that. he is next. ♪

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stuart: breaking news on sports. we are seeing reports that a group including dwayne "the rock" johnson has agreed to purchase the xfl for around $15 million. still on sports. the golf industry, we are told is seeing a surge. a lot more people getting own the golf courses. hillary vaughn, come on in to this please. tell me more about this. reporter: what is interesting when golf courses shut down in march and april the whole industry nationwide took a one billion dollar hit. about 20 million rounds lost. now fast forward to the summertime, golf courses are open. it is really the perfect socially distance outdoor activity for people copped up in their living rooms for months. because of that golf is expected to rebound even better. right now courses around the country are seeing about 20% more tee times than they were

this time last year. i talked to the golf course owner or the manager of pinecrest golf course where we are today. he says normally on day like this last year they would have 100 tee times. today they have 200 tee times. that is with rain in the forecast. right now for june, the most recent golf data, around the country, courses are seeing 13% more tee times. that is 7 to 8 million rounds of golf more than last year. that translates into $400 million more in revenue. which means a lot of golf courses that were very concerned they were going to do worse last year because of being shut down for several more months are actually on track to do even better this year. stuart. stuart: liz, great place to keep social distance, get out in the fresh air, late spring, early summer. hillary, thank you very much indeed. i was going to ask you if you were a golfer and what your handicap is. that is rather intrusive question.

see you hillary. might say you were a scratch golfer or something. like that. ups on your screens right now down a little bit. but here is the news. they're preparing freezers to start shipping a virus vaccine when we get one. ash, how does this work? ashley: it is interesting, they're developing these facilities, one near louisville, kentucky. the other in the netherlands near a ups air hub. these facilities will hold 600 deep freezers, capable of holding 48,000 vials of vaccine. this of course is and when a vaccine can be found because they realize when that moment comes and that vaccine is approved, they will be part of a global distribution network. there are issues with directing very fragile vials of vaccine that need to be kept cool. that is quite a logistical nightmare.

ups is getting ahead, building these facilities. they can go down refrigerators, down to minus 112 fahrenheit. that is cool. that is antarctic cold. we understand, fedex, dhs are also expanding their temperature controlled transportation networks this is in anticipation of a vaccine being available. when it is, they will be ready to ship immediately which is good news. stuart: be prepared. nothing wrong with that. ash, thank you. look at the airlines, since the pandemic started 150 airlines have been operates on cargo flights only. lauren, is this how they're staying afloat? lauren: it is helping and it is proving to be a silver lining as 150 airlines are strapping packages to passenger seats in some cases and operating as cargo carriers. medical supplies, ppe, even to fulfill online orders.

the faa responded rye relaxing transport rules early on in the pandemic to give airlines a chance to bring in revenue. here is an example. united airlines their cargo revenue rose 38% in april, may, june and flaw cargo-only flights. i want to leave you one more thing. yesterday the tsa saw an increase, the most passengers going through checkpoints at the airport since march 17th. look at that nearly 800,000 people went to the airport and flu somewhere yesterday. stuart: i see that as a positive. i do a positive again, paraffling again, traveling more traveling more. i think. look at market, this is a technology story. the markets are all up, boosted heavily by technology stocks. look at apple, there are reports that apple purchased promising startup, moby wave. they paid $100 million for it. this would allow apple to

compete with companies like square and paypal. apple up another 14 points. 3.4%. big gain for apple again. speaking of payment processing, bring in alex holmes, he is the chair and ceo of moneygram. welcome to the program. we like to have people on the show not taking advantage of the virus but i would say a new kind of company that benefits from this new economy. are your transactions up a lot at moneygram? >> yes, sir. they are as a matter of fact. it has been quite a transition for this company over the past couple years. we have a seen a tremendous surge in digital transactions over the last two years and really incredible surge over the last quarter since the pandemic really set in. 106% growth last quarter in digital transactions and 27% of our total company transactions. so definitely i have seen a tremendous increase as consumers

look for coronavirus safe ways to send and receive money. stuart: i'm an old-fashioned kind of guy. i like to write checks. are my days as a check writer numbered? >> you know, my standing joke on that i think you can continue to write checks but the people in line behind you probably aren't going to appreciate it very much. i think, i think they probably are. i think coronavirus definitely another step towards that digitization. contactless payments online, digital payments, mobile type devices will continue to see increase in utilization as we go forward, all over the world. not just here in the u.s. stuart: how long before we see the end of cash, notes, coins? >> yeah, that question has been out there forever. cash still is the predominant form of payments anywhere in the world. by far the most ubiquitous and liquid for anybody in a market anywhere in the world. that being said i think the

growth in digital has been absolutely tremendous. the world bank which is probably the, foremost expert in term of remittances and cross boredder payments says it will be digital by 2022. that is before the virus. i think there will be pressure on cash but it will be around a long time. stuart: moneygram, well-positioned chairman and ceo, alex, thank you for being here. >> appreciate it. stuart: just a couple hours from now, 1:00 p.m. eastern to be precise, nancy pelosi, senator schumer, treasury secretary mnuchin, and mark meadows they will meet on the coronavirus package, the stimulus package that is talked about. will we finally see a deal? plus also ahead, economist stephen moore, he says lockdowns of any kind should never be an option again. he will tell us why. ♪ apps are used everywhere...

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♪. stuart: solid green arrows across the board especially for the nasdaq. this is the story of technology doing very well again. nasdaq is up 120 points to a new record high. mcdonald's they're hinting at upgrading the chicken sandwich and downgradeing those ball pits. you remember those? listen to what former mcdonald's chief ed rensi had to say about ball pits last hour. roll tape. >> obviously mcdonald's and all all restaurants are sensitive to sanitation and disinfection. those ball pits are really a nightmare to keep clean all the time. it's a lot of labor, a lot of expense. a lot of kids go in there. i think it is wise to suspend the use and probably get rid of it long term.

more and more their business is delivery. more and more is drive-through. stuart: the virus change as lot of things, doesn't it? amazon, the company says it will invest in $10 billion to compete against spacex in satellite broadband. amazon's stock is down 30 bucks as of right now. two astronauts successfully landed back on earth after traveling from space on the spacex capsule. watch as they landed safely. roll tape. >> splashdown. >> as you can see on your screen we have visual confirmation for splashdown. [applause] >> he concurs, splashdown and main cut. >> dragon endeavor has returned home. stuart: it was quite an event. i want to bring in nasa deputy administrator jim moorehard.

i was told that this is preview for deep space exploration. can you tell me more about that? >> stuart, absolutely great to be with you today. thank you for having me. think about it as one campaign, three domains. we brought doug and bob back yesterday safely. we're so excited about that. and it really opens up a new space transportation system to low earth orbit where we continue to expand the economy but at the same time the president directed us to get to the moon by 2024 to prepare to go to mars and we just launched a rover last thursday to mars called perseverance and that went well. we just got the upper stage a adapter for the space launch system rocket delivered to the kennedy space center at the same time. so we have got a lot going on. again it is really one campaign with three domains. stuart: is this a deep

international space station race race -- deep spacespace race we're competing with china? >> stuart, i appreciate the question. we landed four rovers on mars already. we have three pretty expensive craters to figure out how to do it but we've done it. and, we already landed, you know, 12 men on the moon. so six landings. so, you know, we've already, right now, we have a probe going to the sun. i don't see this as a race. he who leads in space leads the world and we have to continue to lead in space and we're going to do that per president trump's direction. stuart: jim morhard, congratulations on yesterday's major league success. thank you, jim. news for states that plan to

reopen schools. new evidence suggests young children spread covid-19 more efficiently than adults but dr. marc siegel told us last hour we shouldn't panic about this. roll tape. >> a statement came out of chicago, 145 kids under the age of five, stuart, had a lot more of the virus in their noses when they were sick, mild to moderate illness. the issue is though they're much less likely to get covid-19 still. if you're young, under age of five, have mild symptoms much more likely to have virus. the news out today, kids may be more likely to be spreaders than we ever thought before if they're mildly ill. that doesn't take schools off the table. stuart: well, many schools already announced plans to start the school year either partly or entirely online. now, let's take a look at some of the, what we call online learning stocks with this talk about reopening the schools looking, classroom learning

looking more and more uncertain. what have we got, lauren? lauren: k-12 has been a winner. it is on hiring spree. it added 1300 additional virtual school educators. the stock is up 100% in 2020. investors are awaiting next week's earnings to see how the investment spree pays off for the stock. chegg. has expanded vial tools. buying companies. they likely increased subscribers by 44% from last year. look, many schools have been closed since march. students need help with homework and assignments. stuart: do you use any of those educational products with your children ad home, lauren? >> my kids are still young buttons of my friends do. we've been talking about back to school spending, what will it look like. you will not spend as much money

on clothes but will spend on technology. stuart: exactly, lauren. come on in, susan, you have another new economy stock to tell us about. this is twilio, up 150% this year if tell me more about that. susan: it's a cloud communications company. how it works, you're on uber, can't find the driver, trying to make a call on the app to find him, twilio is the app that finds that. given the covid lochdown, the more need for remote work and service twilio has surged so far this year. the stock went public at just $15 back in its 2016 ipo. so you would have made a ton of money if you bought in four years ago. i know you always ask me, oh, i didn't see that coming. yeah hard to see especially when you made, how much of your money, 200 times your money back already. stuart: are you referring to me? totally wrong on that one. but you're right, i'm not an early adopter and i don't get

into things early. i should have. susan: that is what you always say. i didn't see that coming. stuart: you had to explain what the cloud was, you never did. i missed. it is your fault. susan: i try to explain it every day. stuart: moving along. we're 91 days from the presidential election. i want to know what happens to the market if joe biden wins and what happens to the market if the result is delayed because of all this mail-in balloting? i will cover it for you. known as the happiest place on earth, but with strict health and safety measures in place, has disney world lost its magic? i will put it to a former disney imagineeer. he is next we made usaa insurance for veterans like liz and mike. an army family who is always at the ready. so when they got a little surprise...

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stuart: disney world reopened its doors to guests. it had been shut down because of the pandemic of course but they're opening with a lot of restrictions. eddie soto is back with us. he is a former disney imagineeer. all right eddie, i want you to break down this magic, how do you keep the magic or restore the magic?

to the disney theme parks, how do you keep the magic? go. >> the way you keep the magic, you have to acknowledge the fact that the hospital practices destroy it. all these things, you can't walk and eat. you said in the last interview, eddie, no parade, no fireworks, what have you got? what are the moments? we have to get the moments bag. we have to do the medical in a different way. so instead of making this a hospital we have to think of it like an airport thinks of it. an airport screens you for security against terror, right? and then once you're in the airport you're free to do whatever you want in the terminal. it's a bubble. it is like the nba is doing with basketball. we need to expand the bubble, retained the themed environments. it is like stepping in a movie. or watching a film, would you watch "star wars" if they were standing on with stickers and little masks on? no director would allow it. we don't allow that in theme parks. stuart: what about disney crewses? >> same thing. the biggest clue here that is killing these businesses is

capacity. when you reduce capacity you're killing yourself. i don't care what anyone says, you're not really making money when you run at reduced capacity t destroys the shared experience of a baseball game or any of these things. so we're working as company, future proof experiences, you can learn more, dot-com, right? but we're looking at the entry sequence and making it fun. making it fun. so, you enter a screening process like you would at the airport but fun, something, the kid would say i want to do that again. but it is market ready technology as well. so, we're, there are things in testing we can get a one minute result from say perhaps a saliva test or breathalyzer. someone goes through it a minute later, while checking their handbag, they walk in, they're having fun. stuart: thanks very much for joining us as usual, eddie. sorry to cut it short. i'm flat-out of time but it was good. more "varney" after this

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but it only covers about 80% of your medicare part b costs. a medicare supplement plan may help pay for some of the rest. two: this type of plan allows you to keep your doctor - as long as he or she accepts medicare patients. and three: these are the only medicare supplement plans endorsed by aarp. learn more about why you should choose an aarp medicare supplement plan. call today for a free guide. stuart: 11:00. here we go. we've got a rally on our hands. it's not a huge rally by any means but technology is doing very well. the nasdaq composite has reached an all-time high this morning, well over 10,800. it's led by apple and microsoft. both of which are doing extremely well again this morning. look at apple, up another 3%, $437. way up there.

now look at google and adt. they are partnering on home security products. adt's stock is way up there, 67% higher. look at this. a powerful tropical storm off the coast of florida is expected to strengthen into a hurricane and make landfall somewhere in the carolinas tonight. we are keeping an eye on that for you. in just about a half hour from now, the president meets with tech workers and he's going to sign an executive order on hiring american. we will bring it to you. he may say something as well. now this. we are moving full speed ahead towards election chaos. nevada is the latest state which will send mail-in ballots to every voter. that's how the state will handle the election in the midst of a pandemic. inevitably, that will lead to a delayed election result. inevitably, that will lead to legal challenges which will further delay a result and make it even more contentious.

we have been talking about this for weeks. chaos is coming. also in nevada, listen to this, elderly voters and those with physical difficulties may request that someone else fill out their ballot for them. that doesn't seem quite right, does it? in one new jersey town recently, democrat campaign officials went to low income districts, they offered 50 bucks and told residents quote, what to circle and where to sign on their absentee mail-in ballots. then they told them where to pick up their checks. that was in a municipal election. imagine the opportunity of mischief in a presidential election on a national scale. long delays plus legal challenges equals chaos. in the five-week delay in the bush/gore fight back in 2000, the s&p 500 dropped 12%. this market would surely react even more negatively if there were a similar chaotic delay

this year. but you know, it's more than just money that's at stake here. it is the integrity of elections. we vote to figure out who gets the power to organize our society. it should not be corrupted in any way. on june 23rd, a democrat primary election was held in new york city. 65,000 mail-in ballots have still not been fully counted. thousands of votes declared invalid, many from predominantly minority areas. six weeks later, there is still no result. election day is november 3rd. do not expect a result that night. mass mail-in balloting guarantees a delay and that guarantees chaos. we've got a new tweet from the president coming in to us as well about this. quote, in an illegal late night coup, nevada's clubhouse governor made it impossible for republicans to win the state. post office could never handle the traffic of mail-in votes

without preparation, using covid to steal the state. see you in court. congressman barry loudermilk, republican from georgia, is with us now. look, i'm talking here about election chaos because of this mass mail-in. i think chaos is absolutely guaranteed. what say you? >> agreed. more importantly, as you have mentioned, this undermines the integrity of our entire election system and make no mistake, this is calculated, it is planned. this has been the number one legislative priority of democrats, this started in january of last year when they took control of the house of representatives. their very first bill was house resolution 1 which was a federal takeover of our entire election system which included mass mailing of ballots and ballot harvesting because it has been very successful for them in california. in fact, you brought up several instances of voter fraud. just last week, three days ago,

four people in los angeles admitted to selling or buying ballots, giving cigarettes and cash to actually get people to sign fraudulent ballots. this is going to happen nationwide. stuart: i wonder what can you do about it, congressman? >> well, this is the thing. we were able to stop them from doing this legislatively. they were able to pass through the house with all the democrats voting for this. republicans voting against it. the senate refused to take it up so what they're doing is using covid-19, again, they are leveraging this crisis that we have been in for political gain, and they are getting individual states or secretaries of state to do this for them. look, the only way we are going to be able to effectively fight back is we have to get more people voting than they do. because of this happening in different states, you're right, there's going to be chaos and

the more that they can delay the results of the election, the more likely they can manipulate those ballots. i'm not exaggerating. if you go back to the election two years ago, congressional election in california, republicans on election night won several seats on election night, when all the votes had been cast, we won those seats. three weeks later, we had lost those because boxes of mysterious ballots were appearing at these voting precincts. this is what you are going to see nationwide. i don't know what the president has in mind legally when he's talking about see you in court but we have to make sure that the integrity of our election system is maintained. stuart: indeed. congressman, you're right. thanks for joining us. we appreciate it. now, i call this election chaos. i'm wondering what effect on your money. let's bring in charles payne, the host of "making money" on this network. charles, i say that delay,

extensive delay is guaranteed. that will bring chaos and i think it's a terrible thing for the market. what say you? charles: yeah, well, it's definitely not good for the market. we all know that the market hates uncertainty. it can take the worst news in the world if it sees it coming straight at it. when there's these dark clouds of confusion and uncertainty, the market gets haywire, investors get jittery and of course, we are talking about the presidency of the united states. you know, we learned a lot of lessons this year about systems that are sound in normal times and then when they're not sound, when there's an overuse of them, right, so whether it's hospital systems, whether it's toilet paper, when the system is really tested, we don't know how it's going to react. we know normally, sure, handful of mail-in ballots are okay. absentee ballots are okay. when states start talking about these aggressive mail-in ballot operations for the presidency of the united states, there's no way this has been stress tested, there's no way it's been thought

out, and it's completely political and it's a risk to the stock market. stuart: thank you. glad you agree with me on this one, because it is a risk to the stock market in my opinion. all right. i know your heart on this. biden supporters and democratic strategists are urging biden not to debate the president. how do you think that would go down, if he indeed said no debates or just maybe one debate and i will cut it short? i don't think that's favorable to him. charles: you know, you thought you were going to try to coast to victory, hillary clinton? watch what we do. you thought you didn't have to campaign through most of the country and chill out in the hamptons? we're going to one-up you. we're going to win this thing from the basement. it's nuts. it is crazy. this is a time-tested honor that goes back to the beginning of democracy, the ability for people to get up there and challenge each other, listen to the questions from the audience, from the public, it's just nuts.

i mean, i understand why they're nervous. i really do understand why they're nervous and intimidated but i really think it would be awful. i think it would be awful for our country, for our republic and i think it would be awful for biden's campaign, to be quite frank with you. stuart: i agree with you. again, i agree with you. let's get to the markets. new report from forbes says we are now in an active stock picking season. okay. that's a point of view, i guess. what are you picking? charles: my goodness. stuart, i am killing it. i am doing so good. listen, we remember back in february and march i asked people not to sell. i said two things. don't panic and take a loss and if you have the wherewithal, buy something. i just had my best week ever from my newsletter. 85% were renewals. one subscriber said he made money on 43 of my last 44 ideas. it's really amazing. i have always felt stock picking

was a better thing than just buying indices but more so now. passive investing, it's just not working because we have distinct winners versus losers. think about overstock.com. you remember patrick burney came on the network a lot. it was always a company with potential. he gets kicked out. i think he sold all his stock like $12. it's $78 now. the story has changed dramatically. peloton was a so-so ipo. the story has changed dramatically. zoom was a so-so ipo. they went public and just drifted, no one cared. because of the backdrop we're in now, because of how rapidly we are pulling five years in front of us, to us right now at warp speed, things are supposed to evolve are happening sooner. there are distinctive winners and losers and the market's reflecting that. stuart: consider this a promo. we will watch your show at 2:00 this afternoon on this very network. because i love to know how to make some serious money. charles: thank you very much. stuart: you are welcome,

charles. it's commissionable, of course. there you go. "making money with charles payne," 2:00 this afternoon, this network. thank you, charles. another retail ice age story. lauren, lord & taylor. on the chopping block. tell me more. lauren: this is the nation's oldest department store, now filing for bankruptcy and get this. it was sold just last year for $100 million to a french company and that company also filed for chapter 11 bankruptcy yesterday. the retail ice age, the bad news continues. taylor brands filed chapter 11 as well yesterday. it owns men's warehouse and jos as a. bank. corporate clothing is not selling. we are working from home. that's another reason why ann taylor's parent filed for chapter 11 last week. brooks brothers. all of these stores were struggling pre-pandemic and the virus accelerated their decline. stuart: you think we will -- lauren: the landscape for retail will look a lot different. stuart: you think you can see the demise of the suit for men?

lauren: yes. i think casual friday has changed that, a few years ago. one of the reasons all of these companies were struggling. i think it's going to come back. it's just going to take, well, time. stuart: all right. thanks, lauren. show you the white house again. in a few minutes, the president will sign an executive order on hiring american workers. we will bring it to you. two weeks to go before the democratic national convention in whatever form it's held. joe biden still hasn't picked a running mate. what he needs to factor in to make his decision. we will talk about that coming up. first, white house officials expected to meet with top democrats today to hammer out a new stimulus deal. is a payroll tax still possible? or is it completely off the table? we will deal with it next. ♪

we have been for the $600. they have a $200 proposal which does not meet the needs of america's working families, and it's a condescension, quite frankly, because they're saying really don't need it, they're just staying home because they make more money at $600. >> there's obviously a need to support workers, support the economy. on the other hand, we have to be careful about not piling on enormous amounts of debt. stuart: there you have it. speaker pelosi, treasury secretary mnuchin going head-to-head there on the sunday shows about unemployment benefits. they are going to meet again,

1:00 p.m. today. that's about a couple of hours' time. stephen moore joins us. all right, stephen, i think we are going to get a stimulus plan, no matter what. the politicians cannot resist spending some money. are you for it or against it? regardless of what's in it. >> well, stuart, what i basically laid out in my "wall street journal" piece today is that donald trump does not need to negotiate with nancy pelosi. this is something the white house is really looking at. donald trump can unilaterally without any support from nancy pelosi or the house democrats, can basically suspend the payroll tax for the rest of the year. he has the executive authority to do that, to not collect the tax. that would be an enormous stimulus for the economy and by the way, the $600 a week benefits that are so pernicious that are paying people in many states twice as much not to work as to work, and that's just --

not just bad economics, it's unfair to the people who are working hard, he can get obviously that suspended automatically because it ended on july 31st. my point is, i don't see any utility right now from donald trump continuing to negotiate with nancy pelosi. there's not a single thing that she is in favor of that is good for the economy. i read through her $3 trillion bill. it's all just give-aways to left wing special interest groups. so donald trump, just do it. just suspend the payroll tax, stimulate the economy that way and if you want to make some separate deals with pelosi, great, but right now, stuart, this phase four negotiation is looking like a train wreck. it's going to ruin the republican party. it's going to split the party down the middle. and it's going to enact a lot of provisions that will not do a lot of good for the economy at all. stuart: stephen, you are speaking as an economist. >> yes. stuart: this is an entirely political situation. >> it is. stuart: there's a political dynamic here. three months before an election, politicians want to spend money.

they want to go back to their constituencies and say look what i did for you. there's no way round that. no way round it at all. >> you're wrong about that. that's the point of my piece in the "wall street journal" today. there is a way around this. there is a way to stimulate the economy in the months ahead, before the election, in a way that is very very popular with the american people. it's to stop the withholding of people's payroll tax in their check. are you talking about -- by the way, the legal authority is absolutely clearly there in the statutes. donald trump can stop the withholding starting tomorrow and that would mean a 7.5% pay raise for you and for me and for everybody watching this show who has a paycheck. what would be a better way to stimulate the economy than that? meanwhile, nancy pelosi wants to give $500 billion to the states, states like illinois, new york, new jersey, connecticut, that have acted incredibly fiscally irresponsibly for the last five years. what is the point of that?

that's only going to redistribute income from red states like texas and tennessee and florida to states like illinois and new york and connecticut. so do it, mr. president. you got the authority. stuart: okay, separate subject. i want you to deal with it for a second. have you seen what's going on in melbourne, australia? a second full-scale lockdown, complete lockdown. victoria state in australia. you don't want that to happen here, do you, but it's a possibility. >> so this is a really important point. obviously the most important thing for the economy, far more important than these trillion dollar stimulus plans, is to keep the economy up and running. you know, the evidence is so crystal clear that states that have massive lockdowns in their economy had actually higher death rates than states that didn't. there is zero evidence that these lockdown of our businesses -- look, i'm not saying people should act irresponsibly. you should wear a mask. you should social distance.

you should stay out of crowded bars with bad ventilation. but the idea of shutting down businesses, i mean, we have created, you know, something like eight million new jobs in the last couple months because we did start opening up the economy. do democrats really think the right solution is to shut down everything again? we would lose another eight to ten million jobs. we have got to get things up and running and we can do it in a safe way. this is a very serious moment. you have a number of states that are locking down again. they are making big, big mistakes. by the way, sweden is the story of a country that never shut down and basically, they don't have a covid problem today. stuart: very true. steve, thank you very much for joining us. all good stuff. we appreciate it. see you again real soon. thank you. check zoom. they are no longer offering their services to customers in china. instead, they will have to go through zoom's third party partner, so the separation, u.s. and china, continues.

what about chegg, an online college textbook seller. they report after the bell today. all eyes will be on their digital sales number, especially with the boom in online classes. before they even report, the stock is up over 6%. that's chegg. staying on education, teachers are protesting across the country over returning to the classroom. grady trimble live from chicago, what are the teachers asking for there? reporter: well, chicago public schools are planning a hybrid model to start the year. the chicago teachers union is gathering today to protest the in-person classes that would be part of that hybrid model. in fact, the union has put forward a list of their own demands, some somewhat ambitious. they include 100% remote learning to start the school year, free computers for all students and internet access for all students. on the other hand, of this equation, is the parents. many, many of them want their kids to go back to school and in many cases, need their kids to

go back to school so they can go to work. i talked to a parent in the chicago suburbs who says she prefers at least a hybrid model to start the year and also asked her kids what they prefer. listen. >> those kids right away, we want to go back to school, no doubt, no question asked. we want to see our classroom, we want to see our teacher, we want to see our friends. we need instruction from the teacher. we need to know the teacher. reporter: we know the american federation of teachers has said that local unions can strike if teachers feel unsafe. here in chicago, the teachers union has not said whether a strike is on the table but if there were a strike in this city, it would be the second teachers' strike in chicago in less than a year. there was one last october over contract negotiations. stuart: not good for the kidney w -- kid any way you slice it. i will call this the stock of the day.

i think there are two stocks of the day. apple and this one, microsoft. we know they are in the running to buy tiktok in the states. susan, if they get it, if they can take tiktok, what does it do for microsoft? susan: it could be the deal of the decade for microsoft according to some commentators. the stock is trading like it today. wall street thinks microsoft is going to get a fire sale deal and fire sale pricing for tiktok which is one of the most downloaded apps on the planet with over 100 million users right here in the u.s., and 800 million globally. it was last valued at $50 billion and microsoft rumor is they may get it for about a tenth of that price tag, around $5 billion. president trump has given them 45 days to work out a deal or he will possibly take executive action to ban tiktok from the u.s. we know microsoft is targeting september 15th to get a final deal done. white house trade adviser peter navarro questions this morning if microsoft should actually be the buyer of tiktok.

>> can we trust any company that operates in china, has servers in china, has software in china, to protect your children. that's a question i think that needs to be asked. susan: tiktok's chinese owner bytedance issuing a memo last night, acknowledging they are being forced to sell tiktok but there may be other options besides microsoft, including possibly other suitors but there are familiar ties between microsoft and bytedance. for instance, a billionaire that started bytedance used to work for microsoft in china before starting his own business, and more obvious social media buyers like facebook and google are already under the antitrust microscope so their hands might be tied. microsoft has the cash and the culture. they are known to give a lot of leeway and autonomy to acquisitions including linkedin which was a social media site they bought in 2016 for $26 billion. stuart: if they pick up tiktok, for $5 billion, that would be a steal. susan: fire sale. yes. stuart: absolute steal. thanks, susan.

91 days from the election. our next guest says we are now facing two major risks to the market. we will tell you what they are in a moment. in just a few moments, president trump will sign an executive order on hiring american workers. stay right there. we will show it to you. he may say a few things. you will hear it. back in a moment. ♪ we love our new home. there's so much space. we have a guestroom now. but, we have aunts. you're slouching again, ted. expired, expired... expired. thanks, aunt bonnie. it's a lot of house. i hope you can keep it clean. at least geico makes bundling our home and car insurance easy.

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stuart: yes, the president is going to sign that executive order on employing americans, hiring americans. the value here for us and for the markets is that he may make a few comments on other subjects which could affect the market. if he makes any comment of any kind, you will hear it right here and that's a promise. the markets right now showing a very nice gain, especially for the dow. that is an intraday high for the dow, up 240 points. look at that level, 26,670. the nasdaq powering ahead to more all-time highs. it's up 144 points. tech doing very well. market watcher andrew left joins us now. there is a stock out there that

you are hot on that might be off the radar for most people. is it rosetta stone? because you talked about this last week, i think. tell me more. >> i mentioned rosetta stone to you last week because as you just mentioned right beforehand, going back to school and education has become a primary concern for this country. we have seen all the e-commerce stocks move and we have seen all the stocks that have gone to their work at home and live at home but to educate at home, is a major scene. i just saw today in the literacy world, rosetta stone's key product just went with [ inaudible ]. they are part of that curriculum. i would give your producers other ones but the market is so hot right now, i said this morning look at this stock, it's been up [ inaudible ] in two hours. i hate to recommend anyone chase the market right here. if you saw a stock you like, maybe wait and find something

that's behind the curve. i thought rosetta stone is there. i still think it is. great potential for takeout by private equity this year. stuart: we have all these electronic brokers saying they have an enormous number of new accounts opened by people investing from home. and often, they are day trading from home. does that worry you a little bit, that it's become a lot more like a casino as we have gone up with some of these stocks? >> it is a full-on casino. there are multiple valuations don't make a difference anymore, it's completely based on emotion. it's the robinhoods. unfortunately, whenever you get mania like this, it never ends well. i don't know what's going to be the catalyst for it. it doesn't mean go sell your stocks whatsoever. it means always be prepared to buy stocks lower whenever you like. but there is a great mania out there. people have gone from instagram influencers to day traders and

it's become the new job du jour just like we saw in 1999. but that's the world we're if right now, where we talk about fixing the economy. it's interesting, as we are fixing the economy, we are looking at stocks hitting all-time highs on the nasdaq. there's a disconnect between the stock market, between main street and wall street. stuart: does it remind you at all of the late 1990s and the dot-com bubble? >> i think people forgot, in the late '90s, the valuations weren't that crazy. stocks became $2 billion, $3 billion and that was really in the beginning of the internet and we see how it is now. we are looking at stocks now $10 billion, $15 billion companies without naming specific names that have never earned profits in ten years of operation. so yeah, it's more speculative now than it's ever been. obviously we have a very interest rate friendly environment but whenever you see this type of mania, when 19-year-olds and 20-year-olds are coming up trying to high five me when i walk out of the

house, there's probably an end to it. i don't know what it's going to be. but if you own stock like apple and microsoft and amazons of the world, you have a level of security. stuart: okay. talk to me about tesla. i raise the issue because elon musk, he just praised china for having quote, smart, hard-working people and he says like new york and california are becoming complacent. does he have a point and what do you make of tesla's stock? >> okay. there's two different things. does he have a point. i think it's funny, until in my opinion eventually they will steal his technology and how hard-working is it then. i don't know why he would say that. it seems to be anything that's going to be, you know, counter-culture, he will go ahead and say. as for the stock, it's in its own stratosphere. why is the stock up 40% in the past few months? whatever it is for the year, some crazy number. it's because people want to buy it. it's a car company, it's not a car company, it's an alternative energy company. as for the stock, i always told

your viewers i was actually short it a little bit recently. it's tough to own. it's tough to short. you just watch it. it is a good car. as for musk as a leader, maybe he's trying to make good with china. maybe they are giving him more favorable terms. but that's elon musk. he's a one of kind. stuart: you worry about election risk for example, a delay with all this mail-in balloting so we don't get a result on election night, we don't get a result until -- >> yeah, it does. any form of uncertainty hurts the market. i only want what's strong for this country. some kind of certainty. i want this country to look good on a worldwide stage. i think anything that makes us look weak will make our economy and our stock market look weak. so that is no doubt a risk right now. no doubt. stuart: thanks for joining us, as always. we always appreciate it. thanks very much for being here today.

thank you. stock check, please. co-diagnostics, straight up, 19% higher. the fda approved use of one of their partners' technologies for an at-home virus test. no nasal swabs. it uses saliva. carnival cruise lines are postponing plans to restart their german division, canceling trips that were scheduled to leave this week. they need approval from the italian government to start sailing again. the stock is down 5%. carnival cruise lines. spirit aerosystems, boeing's largest supplier, are cutting 1100 jobs. the stock is down 2%. breaking news from the white house. randomized virus testing will now be mandatory for staff. this is at the white house. it had been voluntary. this comes as the race for a vaccine heats up. we will tell you which drug makers are showing the most

promise as cases spike around the country. that's to come. joe biden could announce his running mate as early as this week. but he's likely to delay it until next week. we will talk to you about who he's likely to pick and not pick after the break. ♪

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stuart: very nice gain for the nasdaq composite. look at that, it is up 1.4%. very significant. an all-time high. you're getting close to 10,900 right there on the nasdaq composite. then we have 2020 hopeful joe biden. yeah, he's delaying his vice presidential pick again.

he's got a long list of potential picks, including susan rice, national security adviser under president obama, florida congresswoman val demings, california senator kamala harris and others, of course, as well. ron paul is with us, former congressman from texas. seems to me, congressman, that joe biden's backed himself in a corner, eliminating lots of potentially good candidates because he says it's got to be a woman, probably a black woman. he's in a corner here. >> he sure is. he should listen to the referendum. they just had one in the democratic primary and if you add up the votes of biden and sanders, tremendous support for an old white male. he's going to the wrong place. people are being unhappy about this but he's going to be up -- stuart, you and i probably won't have a whole lot to say. you will have a lot more than i do about who they pick but the whole thing is, long-term, it

makes a difference and it makes a difference in the election, but regardless of which one he picks, it's not going to matter much. every one of those potential candidates aren't very much leaning in our direction. we can expect trouble regardless. i think the battle has to be in the republican primary and the presidential race with trump rather than thinking that we can influence the future by influencing the biden's pick. stuart: you were a congressman. you are a libertarian. that's what i'm trying to say. sorry. you are a libertarian. you are a former practicing doctor, i know that, too. what do you make of america's response to the virus so far? >> i think it's sad. i like what sweden did. you know, everybody in america wants to jump on sweden for being these outlandish socialists but they handled it better. they just ignored it and it ran its course. they had their problems but they have had no economic

consequences but they didn't have a lockdown and i think we went in the wrong direction and the people who objected to it didn't get very much of a hearing. so there's been groups of doctors who have taken a different position, it should be more conservative, hydroxychloroquine should have been able to be used. instead, astoundingly, something that's been around for 65 years and in my opinion, very safe drug and very effective, was literally taken off the market by the fda. it makes no sense. it's sort of anti-libertarian. i think we went in the wrong direction. i think we're suffering more from it. that's not to belittle the seriousness of this. it's a very serious thing. but you know, the fanaticism on now getting the vaccine i think is going to be a fruitless adventure because all you have to do is listen to gates and it should make you very nervous. well, we don't know when we're going to get it but we've already spent $9 billion on this

and might need two shots, no, it might need three shots for this to happen. they admit it's only 50% to 60% beneficial. i would say we're going in the wrong direction and that it's a coronavirus and it's sort of in the field of where the cold viruses are and you don't get good vaccines from this. so it's sad because the people who have done less have gotten a better benefit from it and there's a lot of people -- a lot people can do for natural immunity and i certainly emphasize that but i also emphasize freedom of choice in not having certain treatments run down our throat by the government. i don't think the government should be in the practice of medicine. central economic planning fails in economics, it fails in medicine, too. i think that's what we are witnessing now. i think the economic consequence of lockdown is way out of proportion to what should have happened. stuart: agreed on that one. ron paul, always a pleasure to have ou the show. you have always got an opinion that's sharp edged and we love

it. ron paul, thank you for joining us. appreciate it. thank you. now then, by the way, look at the markets. it's a new intraday high. that's a new high level for the day for the dow industrials, up 266 points now. as we told you earlier, the nasdaq is doing very well indeed. how about google? check them out, please. they made a big announcement about new products. what are they saying, susan? susan: it's finally available because the pixel 4a starting at $349, available for preorder, they say, starting today. it was supposed to debut in june so it delayed a few months, probably owing to covid and constraints in the supply line. this comes with their highly praised camera system, stabilizers, high def and night mode. google phones are known for their cameras but also good security and the 5g pixel phones are expected to come this fall with a 5g pixel costing about $150 more so starting price will be $499. google doesn't sell a ton of hardware devices and not a lot

of phones. it's a pixel 4 which is the predecessor to the 4a, only sold two million, compared to apple which ships around 200 million iphones each year. this is a small part of google's business but pixel phones are a way for google to display its android operating system and really idealize the best way to use android. google doesn't need to make a ton of money after these phones but again, it's a way to show off their operating systems to the rest of the world. stuart: okay. got that. okay. good news. just trying to organize my thoughts around pixels. i'm having a hard time. 58,947 new coronavirus cases on saturday. that is a very large number. however, there's some good news there. the race for a vaccine is speeding up. more drug companies are in late stage trials. final stage trials for vaccines and treatments. we've got a whole list of them coming up for you. plus, momentarily, president trump will sign the executive order to hire americans.

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stuart: it's been a constant theme on this program, the race for a virus vaccine. all right. we've got astra-zeneca, moderna, pfizer, all three in the final third phase of testing. that is good news indeed. edward lawrence, are we on track to get a vaccine by the end of this year? reporter: and the short answer is yes, but it's not likely to be an american company that comes with this vaccine, but the u.s. government has spread around enough money to where they have secured 300 million doses of a vaccine from astra-zeneca which appears like it could be first in october with an approved vaccine. the u.s. has invested $1.2 billion in astra-zeneca. now, around the globe, you have 139 companies in some phase of development for a vaccine. 26 of those companies are in some phase of human trials for this. now, you see on this graphic here, you see the first two companies there in phase three human trials were chinese companies.

confident they will have a reliable vaccine, although people in the u.s. might not be confident to take a vaccine created in china. still, you see moderna and pfizer on that list. looks like they could be second with a vaccine this year. then the rest of the big companies in phase two trials on pace for early 2021 for a vaccine except for merck. you see that theirs is in the lab. the bottom line, yes, it appears october, this could be the october surprise with a vaccine right before the election. back to you. stuart: got that. talking about vaccines, thank you very much, edward. now let's talk treatments. eli lilly, that's a drug maker, obviously, they are in stage three of a treatment study. they hope they will stop the spread of the virus in nursing homes, that's important. eli lilly's stock up again. it's been doing very well recently. up 2% today. then there's clorox. they reported earlier. ignore the stock price for a second. let me tell you about this.

clorox revenue skyrocketed across the board, all across their product lineup. people are stocking up on their products to sanitize everything and anything. they have also named their company president, a new ceo starting in september. the stock, however, despite all of that, is down five bucks, 2%. probably on the theory that wall street was expecting even more. chipotle, that's another pandemic winner. they are set to hire 10,000 workers in coming months. their sales beginning to rebound, clearly. the stock, though, is down just a fraction but look at that level. 1,147 per share. have a look at these work from home stocks, as we call them. bring in lauren, because lauren, i believe that when we are supposed to work from home, we are actually working a lot more hours. is that true? lauren: you are correct. harvard business school and nyu say we are working 49 minutes a day longer or 8% longer than we did before the pandemic.

the reason is we are getting used to having to do everything at home and a lot of people are sending after-hours e-mails which people feel inclined to then answer. we are working more. stuart: all right. thanks, lauren. there will be more "varney" after this. from fidelity. now you can trade stocks and etfs for any amount you choose instead of buying by the share. all with no commissions. . . . shingles doesn't care. i get as much fresh air as possible. good for you, but shingles doesn't care. because 1 in 3 people will get shingles, you need protection. but no matter how healthy you feel, your immune system declines as you age, increasing your risk for getting shingles. so what can protect you? shingrix protects. for the first time ever, you can protect yourself from shingles with a vaccine proven to be over 90% effective.

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please tune in because that will happen at 9:30 sharp. we'll be on air at that point with "varney & company." i hope maria will wave, but that is what you will see, maria bartiromo, 9:30, ringing the bell at the new york stock exchange. and now it's neil's time. and, neil, i leave you with a nice solid rally. take it away. neil" oh, sure, nothing like a little pressure. stuart, thank you very, very much. we're following up on what you are reporting, my friend, and that is the big runup in stocks right now. technology is very much in vogue right now as obviously ongoing optimism right now at least about the state of the economy and state of these cases that just at that shows defends deaths