maria: thank you, dagen, jon, lou. great to see you. okay. to the next 25 years with dusty. she's joining the show. have a great day, everybody. that will do it for us. "varney & company" begins right now. stu, take it away. i'll see you in 30 minutes' time when i ring the opening bell. stuart: i want -- is it dusty? is that the name? dusty? maria: yes, dusty. stuart: i want to see dusty and maria a half hour from now. that's great. congratulations, maria. congratulations. good stuff. all right. maria: thank you, stu. stuart: sure thing. good morning, everyone. listen to this. the president wants the treasury to get a piece of the tiktok sales price. he says america opened the door to the deal so america should get some of the money. chinese state controlled media call this open robbery. it's not clear just how the

treasury would actually make that money and get that money. we will get into it. microsoft rallied big-time on the news that it's trying to buy tiktok. why not buy a ready-made social network with 100 million american users? it's a good fit. only a modest pullback for that stock this morning after a big gain in the last couple of days. apple, there was another big winner yesterday and a huge winner last friday. this morning, a slight uptick again. that company is worth well over $1.8 trillion. it is the most valuable company in the world. apple. two statements from the president on subjects that affect your money, your job and how you live. first, no second lockdown. roll tape. >> a permanent lockdown is not a viable path toward producing the result that you want or certainly not a viable path forward and would ultimately

inflict more harm. stuart: all right. no second lockdown. here's the second item. a tweet. all caps, straight to the point. open the schools. clearly the president's leading the charge to get the economy going and come out on the other side of the virus. by the way, larry kudlow, president's top economic adviser, he joins us later in the show. how's the economy doing and will we get any stimulus at all? 11:30 this morning. 10:30, the president holds a signing ceremony at which he may address the stimulus. you will hear whatever he has to say. he could move the markets. all right. how about some unadulterated straightforward good news? a saliva test for the virus. not that nasty probe up your nose. it's a spit test and you can do it at home. it's from co-diagnostics. their chief executive officer joins us moments from now. as we said at the top of the show, you're also going to see maria bartiromo plus dusty the

dog ring the opening bell on wall street. "varney & company" is about to begin. stuart: let's get right at it. president trump is okay with microsoft buying tiktok, but he wants a cut of the profit, a piece of the action. susan, susan's here. what would this look like? susan: definitely not the norm, i will tell you that. president trump says the u.s. should get a cut of any forced deal. listen here. >> very substantial portion of that price is going to have to come into the treasury of the united states because we're making it possible for this deal to happen. right now they don't have any rights unless we give it to them so if we're going to give them the rights, then it has to come into -- it has to come into this country, the united states should be reimbursed or should be paid. susan: also interesting that

president trump said in the press briefing yesterday afternoon that other companies besides microsoft are excited at the chance to buy tiktok so there might be other suitors and options that tiktok's parent bytedance has said all along. microsoft has expressed interest in tiktok's business here in the u.s. and three other countries and talks are ongoing. september 15th is the deadline for tiktok to find a buyer or it will be banned in the u.s. according to the president. but if tiktok is forced to sell, there are concerns about repercussions for u.s. companies operating in china, which microsoft does, by the way, also apple gets around 20% of their sales there and a company memo written by the founder of bytedance that owns tiktok last night, the billionaire writing that a forced sale might actually be better than a complete u.s. ban for the company. stu? stuart: i just don't know how america could take a piece of the purchase price of tiktok. i don't know what mechanism there is. susan: a key fee which is highly unusual and there are still questions about legality in this case. stuart: thanks, susan. back to you in a moment.

let's bring in veteran market watcher ed yardeni. your thoughts on the government taking the slice of a private deal? okay. we've got a sound problem. ed is there, i don't know whether he heard me. i just saw his mouth start to open there. are we hearing ed there? is he there? >> stuart? stuart: yes. >> can you hear me? stuart: i can hear you. our audience can hear you. >> good. sorry about that freeze there. well, i don't think it's a very good idea. we're still sort of the global leader in capitalism, i think, and it just doesn't make any sense for the u.s. government to get involved in any sort of corporate finance transaction either here at home or overseas. i'm fundamentally opposed to the government getting a stake in any sort of deal here. i know that this was a very popular app. my teenaged daughter is a big

fan of it. she constantly wants me to participate but i have resisted. but look, the president is the commander in chief and it is his responsibility to watch over national security and there are national security issues, but i don't think it goes to the point where the u.s. government gets a stake in the deal. stuart: okay. hold on a second, ed. our viewers can see on the bottom of the screen, ford's chief executive officer jim hackette is stepping down as of october 1st. ford's stock up 3% on that news. we would bring it to your attention, it just happened. back to you. i want to talk about big tech. seems to me the market is -- some would call it top-heavy because so much money is running into, what, five or six or maybe seven major leagues technology companies. do you think it's top-heavy and headed for a fall, or do you think maybe big tech's got a way to run in the future? >> well, it feels top-heavy for

sure but the reality is that these six, seven, eight major tech companies that now account for over 25% of the market cap of the s&p 500, they actually do have earnings, the earnings are growing and they are big beneficiaries of the covid pandemic. as you know, we are all working from home, getting educated from home, getting our entertainment at home, all over the internet and these big tech companies have, you know, provided the cloud, provided the video services, provided the streaming. so they're expensive. they are selling at 40 times forward earnings but an interesting question that i ask on a regular basis daily now, especially now with the bond yield at 0.53%, is what should the pe be, what should the valuation multiple be when interest rates are zero? stuart: it sounds like you are reluctant to say yeah, they are going up some more because you just can't quite believe it.

have i got that right, ed? >> sort of. i believe it because interest rates are zero and the answer to the question of what should the pe be for growth stocks that are fairly scarce, right now the market's saying it should be 40. could it be 50 or 60? it could. but we may be very well heading up into melt-up territory and some investors who have conservative instincts from the old days might be tempted to take in some profits here and find some better value somewhere else. stuart: you got some attention there with the idea of a melt-up for some of the big techs because i think that happened with apple friday and yesterday. that is a melt-up. very interesting. >> for sure. stuart: it is. ed, thanks very much for joining us. we will see you again real soon. this crossed just a little earlier today. home prices in the month of june, lauren, tell me what's going on. lauren: on the annual basis they

rose 4.9% from last year. the monthly number was the biggest gain in seven years. core logic credits record low rates, tight supply, strong demand even from first-time home buyers and millenials and get this. philadelphia prices up more than 8%. why? new york city residents are moving there. san francisco prices fell .2%. those are some trends that we're watching. stuart: that's the tax exodus, virus exodus story writ large in home prices. good stuff. thanks, lauren. look at disney, please, because they report after the closing bell today. they are down, what, 40 cents at $115. lauren, they report this afternoon. that's really going to be all about the impact of the virus, isn't it? lauren: if they even say anything about their future. we might not get an outlook. but they will report a loss in the quarter. revenue should top $12 billion. investors want to know how big these virus headwinds are and

will continue to be after they did impact operating income by $1.4 billion in the prior quarter with the theme parks and the theaters closed. so is that behind them? how quickly can they emerge? disney plus will continue to be a bright spot. it has 54.5 million subscribers as of may. can it be profitable before 2024 which is the projected date, because this has been a bright spot, streaming for the company because you don't need to socially distance then. stuart: they may back away from any prediction in the future on the grounds they just don't know. that's entirely possible. lauren: yeah. they were supposed to open the california theme park. they closed it. hong kong was open, it had to close. so everything keeps changing along with the trends of the virus. stuart: we will watch it. thank you, lauren. beyond meat. watch out, they report later on today as well. they are up 2.7% premarket. ashley, they benefited from the closure of the meat plant

closures, i suspect. ashley: yeah, they certainly did. it's been interesting because consumers, as we know, during this period have been stockpiling food, especially protein, so they are expecting their retail side to do very well. it was 58% of their revenue in the first quarter. that number is expected to go up when we get the latest earnings report. they are expected to lose two cents a share but revenue is estimated close to 100 million. if that's true, that would be up 48.5% year over year. but you can see the stock price. let's not forget it ipo'ed in may of last year at $25. it went all the way up to $239.71. that was the high point last year. but considering where it was at the ipo, still not bad. interesting to see how their earnings come in and whether they, too, give any guidance. stuart: not bad? if that's not classic british understatement, i don't know what is.

thanks, ash. lots of attention being paid to electric car makers. have you seen what's happening with tesla recently? well, this afternoon, nikola corporation, they are an electric truck maker, they report. susan, any idea what to expect? susan: we are expecting a loss. this is the first report card for the electric truck maker as a public company so the stock has actually rallied into this report with analysts revising estimates higher. always a good sign they are forecasting a better quarter than anticipated. as i mentioned, we are still looking for the company to lose money, meaning the company still needs to make sales and this company by the way has never delivered any trucks or made any full handovers or sales just yet. this company is based on the future and previously saying they had deposits on $10 billion worth of sales. the company also recently broke ground on an arizona manufacturing facility so production updates, cash burn, dates for truck launches, those will be key. nikola is interesting in that they are aiming to make electric and hydrogen-powered trucks in

the future. the hydrogen pricing will also be important here. average target price for the stock, $56, so people are still bullish on a company that's never handed over any keys or trucks. stuart: you think i'm going to buy an electric car in the future or hydrogen car? susan: given that you just moved to netflix in the recent months, i would say that's probably a long ways off, right? stuart: probably. thanks, susan. i digress, of course. look at co-diagnostics. that stock really soared after they announced a new at-home virus test. it's a spit test. very important. the company's ceo explains to me how it works in just a moment. we have a big show planned. national economic council director larry kudlow's here in the 11:00 hour. he could move the markets. where is that stimulus? and can the president act with an executive order to juice the economy? we also expect to hear from the president at 10:30. he signs the great american outdoor act.

if he answers questions, makes any comment off the cuff, he too could move the market. you will see it here. coming up this hour, whoa, our very own maria bartiromo will be ringing the opening bell at the new york stock exchange. it marks her 25 years in the business. i wish i only had 25 years in the business. jam-packed three hours just ahead for you. ♪ devin, did you know geico is now offering an extra 15 percent credit on car and motorcycle policies? ok? that's 15 percent on top of what geico could already save you. so what are you waiting for? dj khaled to be your motivational coach? yo devin! remember to brush in a circle motion. thank you... dj... khaled. tiny circles, devin. do another one. another one.

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allowing telehealth this

context will provide an evidence base for us to challenge some of those assumptions that have always been a barrier to getting congress to expand telehealth. we've now gotten to see the real world impact of telehealth and that will be able at a minimum to cause a revision of a lot of those rather extreme and unbalanced assumptions that have guided and blocked telehealth in the past. stuart: you heard it there. you saw it there. alex azar on president trump's new executive order. the president is expanding the use of telemedicine. mr. trump waived restrictions on virtual doctors at the beginning of the pandemic. this order moved to make those cuts permanent. got it. now look at this. the share price of co-diagnostics, okay, it's down today but it surged 28% yesterday because the company and its partner, clinical reference laboratory, getting fda approval for a new virus test. it uses saliva instead of that intrusive, invasive nasal swab.

and you can do it at home. hero of the hour, dwight egan, ceo of co-diagnostic, joins me now. i've got some questions, dwight. first of all, can i get that test now? >> that test is available now, stuart. good morning to you. you know, when i first appeared on your program some months ago, you challenged me to pursue an alternative to the very uncomfortable nasopharngeal swab some people referred to as the brain tickler. i believe this is the ultimate response to that in terms of a test that can be done at home, in school, in a business setting. it's an excellent test with great accuracy. it's very easy to do. stuart: how do i get that test? if i want to take it tomorrow morning, how do i get it? >> this is actually the test we use now at co-dyiiagnostics to test our lab employees, our accounting department, our sales

department. we call up clinical reference lab, they send them to us and on a weekly basis we send the tests we want back and within 24 to 48 hours we have the results. stuart: if i did it, if i've got it, i spit into the tube or whatever it is you have to do, if i did that tomorrow morning, i don't get the results immediately? how long do i have to wait? >> you will get -- most likely get the results the next afternoon. the way it's set up is that you send the test back to clinical reference lab. they are located in kansas. they are an incredibly high through-put facility. they can do a lot of tests. they will make a meaningful impact in what's going on in the country from a testing standpoint. then you get your result on the internet with an encrypted coding to make sure you're the only one that has permission to get the test results. stuart: i've got to fed ex the spit to this place in kansas. they test immediately or get the

results immediately and put it online. so it's a minimum of 24 hours to get the results. i was hoping it would be much faster. you spit in the tube and it says yes or no, you've got it or you don't. >> well, you are correct, it does take 24 to 48 hours, but we think that that's adequate turn-around time to get a response that makes it so the person can be, you know, traced and taken care of in that regard. stuart: how much? if i take that test tomorrow morning, how much do i pay? >> the test is -- cost is very comparable to what you would find in all the testing that's being done around the country. it's a competitively priced test and it's not something that's outside the range of the kinds of reimbursements -- stuart: how much? i want to pin you down here. i'm a financial kind of guy. roughly how much? >> i would say think of it in terms of $125 a test. stuart: okay. that's getting up there, dwight.

that's getting up there. for someone who would want to test regularly, either go to school or go to work or play ball or whatever, that's getting up there, isn't it? >> it is, stuart. you're talking about the costs associated with sending a test across the country, but it's a test that, you know, can be done in a very convenient setting and i think that from a coast standpoint, i don't think that's going to be an ultimate barrier. for businesses that are large and that have a number of employees, that price of course can be negotiated to get a test cost on a regular basis that's not too prohibitive. stuart: dwight egan, ceo, co-diagnostics, you met the challenge and came back on the show to tell us you had met the challenge. good stuff. thanks for being here. see you again soon. >> my pleasure. stuart: sure thing. we are looking at regeneron, which is up 13 bucks, 2% higher.

there's news on this company. what have we got, lauren? lauren: an antibody drug cocktail that successfully treated as well as prevented covid-19 in monkeys and hamsters, raising hopes that yeah, it could possibly work on humans, too. we also know a phase 3 human trial of the drug combination began last month. the shares are up today, up 70% this year, mostly because of the excitement about their effective virus treatments. they do report earnings tomorrow. stuart: any good news on a virus treatment or virus vaccine and your stock tends to go up. straight up. got it. thanks, lauren. look at the futures, please. this is how we are going to open this morning. down but not that much. maybe 40 points lower for the dow, maybe 40 points down for the nasdaq which is, by the way, at the 11,000 level. ladies and gentlemen, this is a special day here at fox business. in just a few minutes, our very own maria bartiromo will be ringing the opening bell at the new york stock exchange. why?

it's going to be a celebration of her remarkable 25 years in the business. keep it right here. this is "varney & company." ♪ stock slices.

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stuart: i promised you that you would see maria bartiromo ringing the opening bell on wall street and that is literally a few seconds away. right now, i'm looking at the dow, down a little bit at the opening bell. the nasdaq, down a little bit at the opening bell. here we go. here is sandra smith. >> she is set to celebrate her 25 years in the business as the first journalist to broadcast live from the floor of the new york stock exchange, and we want the bring in stuart varney. he joins us from his program on the fox business network this morning. stuart, i know you love maria as much as i do. we are so happy for her. 25 years in the business. you think back to those days where she was down there giving elbows to the traders on the floor so she could get through with her microphone and broadcast, one of the first females to broadcast from the trading floor to the world what was happening. stuart: she is a star. i have known her for more than 25 years and i do actually remember her making that

breakthrough broadcast from the floor of the exchange because back in those days, the floor of the new york stock exchange was jam-packed with thousands of people and as you say, there she was right in the middle of it, elbowing her way through to the front to interview -- sandra: i love it. there she is virtually ringing the bell. there's maria. the opening bell has rung on wall street. maria has done this before but this is an incredibly special day for her. 25 years in the business and stuart, we are so blessed to have her as a colleague here on the fox news channel and on the fox business network. a true professional in everything she does. but when it comes down to it, she is just all around one of the nicest people i know by far. i think she's joining us now. maria, are you there? okay. all right. she is going to join us from the floor from just a moment. she is so proud of this moment because she's brooklyn-raised and she talks this morning in the "new york post" page 6 about what it took to get where she

did. she was a pioneer in her field and people didn't like it at first. she was pushing her way through the traders on the floor of the new york stock exchange and they wanted to do her thing, she wanted to do her thing and now it's a standard for a business network or any business publication to have a reporter on the floor. stuart: yeah. i see pictures there from all those years ago, some of the great moments on the new york stock exchange. i might add, by the way, she's one of the most hard-working people on this planet. you know, she starts her show here on the fox business network at 6:00 in the morning. do you know what time you have to get up to do a 6:00 in the morning live show? sandra: very well aware. yes. stuart: have we got maria yet? she's going to join us on the show any moment now, as they say. there she is. congratulations, maria. congratulations indeed. sandra: congratulations, maria. stuart: before we go any further, may i ask you this? maria: thank you so much. stuart: give me the high point of the last 25 years from the floor of the new york stock

exchange. what is it? maria: wow. the high point, covering the markets, going to record after record, and really i think the real high point for me, stuart, is having this front row seat, having been able to cover business news and the markets while it was happening, while markets were trading and watching all of these cycles from the individual investor revolution to the dot-com boom and the dot-com bust and globalization and then the housing boom and the housing bust, all of these cycles, i was able to watch right from the floor of the exchange and have this front row seat speaking to all of the players involved. for me, that certainly was a high note, to be able to really follow the incredible changes over a 25-year period. it was an incredible 25 years. the floor exchanged changed, business changed, the digital economy came about. remember in the '90s when we were all on the doorstep of the year 2000, we were thinking everything would change. amazon went public in the '90s, google, covering that was incredible, globalization and

also, the idea that individuals back when i first started got the sense that they could actually get enough information for themselves and make their own investment decisions and change their lives over the long term by investing in the stock market. for me, that was an incredible high point. big shout-out to dick grasso for having the vision to know that yeah, we want to open this up, we want somebody on the floor to communicate what's going on down here. he allowed it. he was incredible and of course, big shout-out to cnbc as well for putting me down there. sandra: fantastic. maria, congratulations to you. we were talking before you joined us about how honored we are to have you as a colleague. we were so happy the day you moved over here to fox news channel and fox business network. i was with you on your show day one when it launched and was proud to do so. and we are looking at pictures while you were talking, so many notable figures that you have interviewed and been with over the years. you talked this morning on page 6 about how you made life-long friends on that trading floor. maria: it's true, sandra.

there is so m camaraderie on the floor. there was so much made about a handful of people who didn't want me there but the majority of people were so supportive and so wonderful to me and they really are like family. i will never forget when i was getting married in 1999, unknown to me, they put a ball and chains on my ankle. that told me i was part of the family. what they do as a tradition, they dump a bucket of water on the person when you are getting married, then they put the ball and chain on your ankle. they spared me the bucket of water. then the alliance of floor workers, once they did a roast of me at the new york stock exchange and gave me this beautiful silver dish engraved, thank you, maria bartiromo, for enhancing the image of the new york stock exchange. the guys on the floor and the gals have been really life-long friends. i adore them. i'm so grateful for all that they've done for me to help me get used to being on the floor because it's a special place. it really is. sandra: stuart, got to tell you a quick story. stuart knows all the time i

spent on the chicago trading floors. maria came down to host her show while i was a reporter on the floor at the chicago mercantile exchange. she walked on to that floor and man, the trading pits roared for maria's arrival there. they adore you. they love you. they always have. stuart: you are a star. maria, you are a genuine star. actually, one of the first stars of business news. i mean, back in my day, which is a very long time ago, there was only one show that dealt with business and that was "wall street week" back in the 1970s. there were no real stars -- well, there were a few. our own lou dobbs, for example, "money line" on cnn. then you came along and you just stole the show. you're still stealing the show. where is your dog, by the way? i thought dusty was going to be with you. maria: dusty is here, actually. you know, i'm really glad you mentioned that. stu, i really learned so much working at cnn business news.

i was a colleague of yours back then as well. i was working on your show behind the scenes as an associate producer and a producer, and i learned so much from you and from lou dobbs and from myron candell and really, the reason i had ease in terms of covering the stock market as it was trading was because i learned first-hand at cnn and this was a different cnn, this was ted turner's cnn, i learned first-hand at cnn how to cover a news story as it was happening. that of course was the first gulf war. i remember as a young production assistant working at cnn business news, we would look at the tv and there was bernard shaw under the bed in baghdad saying bombs are going off right now, that was ted turner's genius to be able to cover a story as it was happening, and because i learned all of that, how to cover news as it was happening, never been done before because all the networks would just do their 6:30 at night news show, because of that training, i was able to cover the stock market as it was trading in real-time as it was

happening. i learned that from my time covering the gulf war at cnn. i was so grateful to be able to go down to the floor and cover the market as it was moving, bring information to investors that they could get instantaneo instantaneously and democratize information. it was a really special time. you saw all these mergers, you saw discount brokers merge, get together, because the world was changing. information was critical and investors were using it to create wealth over the long term. it is an honor. sandra: congratulations, maria. stuart: a big thank you to the new york stock exchange for the use of their photos as well. thank you, one and all. sandra: thank you, stu. stuart: see everybody later. where are we? we are down 30 points on the dow industrials. that's just a fraction of 1%. i keep saying this. look at that level. 26,600. got it. we are tracking the hurricane which has been downgraded to a tropical storm, making landfall in north carolina overnight but we are

not out of the woods yet. fox news chief meteorologist janice dean is here on where that storm as it now is, is headed next. did you see the opinion piece in the "new york times"? it says let's scrap the presidential debates. they have become unrevealing quip contests. don't we need to hear from the candidates more than ever? what a story. we're on it. the airlines, because three major carriers are resuming international flights or at least some international flights, don't get carried away, we will tell you who is flying where, next. ♪

my name is janelle hendrickson, and i'm an area manager here at amazon. when you walk into an amazon fulfillment center, it's like walking into the chocolate factory and you won a golden ticket. it's an amazing feeling. my three-year-old, when we get a box delivered, he gets excited. he screams, "mommy's work!" when the pandemic started, we started shipping out all the safety stuff

that would keep the associates safe to all the other amazons. all of these are face masks, we've sent well over 10 million gloves. and this may look like a bottle of vodka. when we first got these, we were like whoa! [laughing] with this pandemic, safety is even more important because they're going home to babies, they're going home to grandparents. so, our responsibility is to make sure that they go home safe every single day. so, our responsibility is to make about medicare and 65, ysupplemental insurance. medicare is great, but it doesn't cover everything - only about 80% of your part b medicare costs, which means you may have to pay for the rest. that's where medicare supplement insurance comes in: to help pay for some of what medicare doesn't. learn how an aarp medicare supplement insurance plan, insured by united healthcare insurance company might be the right choice for you.

a free decision guide is a great place to start. call today to request yours. so what makes an aarp medicare supplement plan unique? well, these are the only medicare supplement plans endorsed by aarp and that's because they meet aarp's high standards of quality and service. you're also getting the great features that any medicare supplement plan provides. for example, with any medicare supplement plan you may choose any doctor or hospital that accepts medicare patients. you can even visit a specialist. with this type of plan, there are no networks or referrals needed. also, a medicare supplement plan goes with you when you travel anywhere in the u.s. a free decision guide will provide a breakdown of aarp medicare supplement plans, and help you determine the plan that works best for your needs and budget. call today to request yours. let's recap. there are 3 key things you should keep in mind.

one: if you're turning 65, you may be eligible for medicare - 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: boeing's stock is up a buck this morning. i believe there is another incremental step about getting their max jet back in the air.

edward, tell me more about this. reporter: yeah. the faa released a preliminary report about the 737 max jet and in it, it said the boeing, the company, the changes that were made to that jet have mitigated the safety concerns that they found during those two crashes last year, in march of last year. they also say that the changes address concerns, other concerns, that were brought up during this investigation. now, in a statement, boeing says this. quote, we are continuing to make steady progress towards a safe return to service, working closely with the faa and other global regulators while we still have a lot of work in front of us, this is an important milestone in the certification process. the changes are designs of the jet, also flight crew procedures changes and maintenance changes. this is another step forward but there are some challenges going forward. there's a public comment period related to this report and then you've got to go through canadian and european union regulators going forward but again, this is an important milestone as the company said to getting that plane back up in

the air. in fact, the cfo says they can deliver all of the parts, 737 max jets, in 2021 once the certification to fly is approved. back to you. stuart: all right. i hear you, edward. the stock is up $1. staying on the airlines. lauren, come in, please. we are talking about some airlines bringing back some international routes this month. it doesn't amount to a whole hill of beans to frasinternatio flight, does it? lauren: well, no. the stocks are all up today, some as much as 3.5%. you have american, united and delta resuming some of their international flights. delta is flying, okay, it's just 30% of their 2019 overseas schedule, but they did resume flights to brazil, ireland, italy. united is allowing passengers to change or cancel your flight through august and it added 25 long haul flights in september. american, this one shocked me, they only expect their

international capacity to be down 25% from last year. that's it. yesterday, tsa says about 740,000 people went through airport checkpoints. we are flying again. stuart: that's the important one. when you get now, what is it, 750,000, almost three quarters of a million passengers traveling in one day, i know it's way down from 2.5 million the same time last year but it is a step up. we are beginning to fly again. thanks, lauren. i didn't mean to pour cold water on the international flight. sorry about that. sorry. bitcoin, 11,230 bucks per coin, down today. look at the chart. yeah, this thing was dormant for about a month but then in the last month, i should say that, in the last month it popped, literally just over this past weekend. rich rosenbloom is with us, gsr co-founder, head of trading, a man who knows bitcoin. why did it pop this weekend?

>> bitcoin was up as much as 10% over the last few days. that's pretty exciting. the reason why is that bitcoin is visual gold and was chasing gold up for macro reasons. that's not the story here. my global team wasn't up in the middle of the night working this weekend because bitcoin is digital gold. saying bitcoin is digital gold is like saying elon musk is a guy who builds electric cars. both are true statements but they leave a lot out. stuart: well -- >> i'll tell you what's really happening here. stuart: wait a minute. wait a minute. are you saying that bitcoin is a safe haven like gold is a safe haven? is that what you're saying? >> i'm saying it's not a safe haven. i'm saying it's more like tesla's stock. you are a fan of lighter regulation, right? stuart: yeah. >> you are a fan of innovative technology? stuart: yeah. >> think of what the tech companies do for us, whether hardware, software, they make our lives easier, faster, cheaper.

more efficient. even more democratic. take a look at crypto. bitcoin is like elon musk and tesla but for next generation financial technologies. what's happening is that in crypto, they are ingesting so much tech into finance that in many cases, it removes the i believe middleman entirely. it's online value transfer. you can bank yourself. the other example is decentralized finance. rapid adoption is why crypto rallied so much over the weekend. stuart: rapid adoption of, what was it again? rapid adoption of what? what was that? >> decentralized finance. i think the metric over the weekend that people were following is volumes on decentralized exchanges, it's bitcoin's corollary to trading were up dramatically. each month, month over month, they are going from tens of millions to hundreds of millions. the numbers are spiking dramatically. that's what people are focusing on. even though bitcoin was up 10%, the next in line was up over

twice that amount. the third was up triple that amount. the excitement over the weekend had nothing to do with digital gold, had everything to do with sdee centr decentralized finance. stuart: we hear you. you explained it well. thanks very much for joining us. we will keep looking at bitcoin. that's a promise. thank you. president trump making his case on the chaos that's going to come from a lot of mail-in voting. watch this. >> if you look at the new york congressional race which is a disaster, they're six weeks into it now, they have no clue what's going on. this is a small race with literally thousands of people, small thousands, and it's all messed up. stuart: he's right. with that one race in new york city having truly major problems, just imagine the disaster that mail-in voting means in the presidential election on a national scale. a lot more on that coming up. on the show coming up, the ceo of an animal health company. he says the virus has changed

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stuart: all right. there's not that much stock price movement this tuesday morning. the dow is down 24, the nasdaq's up 11. i'm going to call this a pretty much flat mixed market. now look at elanco, an animal health company. they just closed a $7 billion deal to buy out bayer animal health. jeff simmons is the president and ceo of elanco. look, i know you want to talk about this deal. i know you do. i understand that. but i'm more interested in what you're saying about the effects of the lockdown, the pandemic. you're saying there's a shift in our relationship with our pets? i'm interested in that. tell me more. >> yeah. we're in a great business. i won't talk a lot about the

deal right now but i will say this. yes, covid has actually highlighted the importance of animals to society. we saw gen-x, millenials, gen-zs are saying, 75% of them are saying the pet has become a significant part of the family. significantly. they are spending more time with them, they want to do more with them, actually the health of the animal, the compliance, taking them to the veterinarian is up, telemedicine is up, so we have actually seen a very quick v-shaped recovery, especially on the pet side. stuart: a lot of people are prepared to spend big money on their pets and that's very good for your business, isn't it? >> yeah, there's a couple other trends i think are significant that make our industry so durable and attractive. one is over the last decade, our industry has actually added 20% to a pet's life, to dogs and cats. that brings similar disease issues, cancer, diabetes, pain

that we are a big player in, that's a factor. the other is the globalization. bayer brings us three times bigger of an international business. that trend is, 68% of the homes have pets, stuart. in china it's only 8%. the last thing is bayer's had over a decade of expertise with amazon and chewy, going direct to the door. one-third of pet owners don't go to the veterinarian. covid has allowed us to partner with a veterinarian with telemedicine to allow pet owners to get what they want at their door. stuart: i've only got 20 seconds left. the really big part of your business is keeping farm animals healthy. that's -- is that, what, 60%, 70% of your business? >> not now, actually. with bayer we are now going to be very balanced. 50/50. ultimately on the livestock side, the united nations says we need 70% more animal protein by 2050. here's the challenge in the business opportunity. give consumers what they want.

animals what we need, still losing about 20% mortality morbidity and using less environment. healthy animals do that. stuart: jeff simmons, you make a very very good case for your company, elanco. thanks very much for joining us this morning. sorry i cut it short about the deal but the pet stuff was much more interesting to me. jeff simmons, everyone. thank you, sir. see you later. thank you very much. the sandwich maker jersey mike's, they've got 2,000 stores, do you know that, 2,000. they are going to open another 200 this year. they are putting some serious money behind their stores. $150 million, remodeling because of the pandemic. how about that. what are they going to do? the company's ceo is with us. still to come, rnc chair ronna mcdaniel. the growing calls to scrap the debate. that's interesting. brian kilmeade, what does he think of the president who wants a slice of the tiktok deal? how about that. economic council director larry kudlow, where's the stimulus?

when are we going to see it? . .

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in our next hour, white house economist harry kudlow, again, where's the stimulus, and how about the president taking a piece of the tiktok action. we'll cover it all. he may move the market with his answers. a few seconds after 10:00, we've got factory orders numbers coming in to us. ashley, report to us. ashley: not as good as may. this is for june, stu. coming in 6.2% in may up after basically bottoming out in april when it dropped 13 1/2%. we're moving on up but not maybe as much as we were in may, which may reflect the resurgence of the virus in certain parts of the country. that could have had a negative impact on factory orders. stuart: got it. thank you so much indeed. no market reaction that i can see. the dow down 25 after that news. up 21 for the nasdaq. i don't think that made any impression on wall street at

all. let me bring in market watcher, all around good guy, scott shellady. scott, i don't want to talk to you about money and finance this morning. i want talk to you how the virus and the lockdown really changed our lives. you have an example where you think it will take years to get back to normal, watching a football game. spell it out. >> over the weekend i watched a throwback college football games, ohio state, michigan, 2015. not that longing a. i saw 105,000 people wedged in shoulder to shoulder for four hours. i wondered when that will happen in america? it is definitely not months. i want to say years, not decades. both consumers and investors to like have been so beaten to death, we have to start teaching people we're not going to eradicate this virus. it will be with us for the rest of our lives, we'll have a coal,

flu, covid season. we'll have to find a way to get around it because it is not going anywhere. stuart: another one, how many people are not paying their rent? i don't know the exact number but it's a big proportion. how many people are not paying their mortgage. i don't know how many people but it is a big proportion. when do we get beyond that and how do we get on this? >> that is a like a aircraft carrier on the ocean going the wrong direction. that will take a lot to turn it around. last month, 33% of americans didn't pay all of their rent or mortgage. 22% didn't pay a dime. as we go down with more and more furloughs and bankruptcies which we conveniently ignore. we look how well the tech sector is, underneath that there is 495 other stocks in the s&p 500 struggling to keep up because of all these things that are happening. furloughs, bankruptcies, on all that bad news is still coming our way. we have got congress trying to find a way to give us more

money. i say this, i know it sounds ridiculous and i have gotten death threats before, only thing congress should worry about doing, how they open up the economy 100% fast as possible because we continue to throw money at a virus. that will not work. we need to keep people at risk. they need to be quarantined. the rest of america needs to go about business. people we keep at risk locked up, that is quarantine. if we lock up the entire economy, that is tyranny. nobody gets that. we need to go back to normal. there will not be risks, we will have to learn to live with it, we have to change our psyche. stuart: i like your point of view scott, i'm sorry about the death threats. i hope i don't get some. i think flat-out scott shellady is right on this. >> all right. stuart: now this, the democrats, very worried about their candidates, yeah, joe biden is leading in almost every poll but anything but a shoo-in i think

they know it. naturally they're trying to protect him. as a test for presidential leadership. that's a sure sign that the democrats are worried stiff about biden's ability on the debate stage. just one senior moment, just one chronic gaffe and biden get himself into deep trouble. so protect him, don't debate. item two from cnn and others on the far left, the president will not leave the white house. that he will not accept the election result if he loses. cnn's april ryan says she can't wait to see armed forces take him out of the oval office. oh. this is a setup. the left knows that an election held with mail-in ballots will be chaotic. exploit the chaos in advance. protect biden in a contested

election by implying that it is the president's fault. item 3, he won't do what might be difficult interviews, by difficult, i mean serious questioning. every week chris wallace asks him to appear on "fox news sunday." so far no show. he is protecting himself. the delay in naming his vice president is another form of self-protection. he avoids contentious questions about his pick, at least for another couple weeks. if there were any other candidate, if he was any other candidate he or she would be wading into the campaign with vigor and spirit. this is joe biden. 77 years owed. frequent memory lapses. frequent gaffs. vague far left policies. a 50 year record as an inside the beltway politician. no wonder the democrats are protecting him. come in please, ronna

mcdaniel, rnz chair. this debate thing, don't debate him or only do one debate. what do you make of this? >> they're acting as the media arm for the biden campaign. biden doesn't want to debate. he is incoherent at best. we've seen many of his gaffs from his basement. they are afraid to put him on a debate stage. i want to say this, i think it is disqualifying, if you cannot debate in front of the american people, make your debate why you should be president, why you should go up against people like putin or xi, then you should not be president and you need to debate. i think if he doesn't debate, if he doesn't do all three he should be disqualified from actually running for president. stuart: well that is not going to happen. you know, that is not going to happen but if he does withdraw from all the debates or most of them, i think he face as political challenge. that would be a very big negative politically. let me move on for a second, because it seems like the democrats are preparing a new

narrative. they know that chaos is coming when we have loads of mail-in ballots in the general election. i think they're positioning themselves to say, it's trumps fault. he is not going to leave office. he is not going to get out of the white house. it is his fault. i think they're protecting him again. >> oh, absolutely. i mean what you just saw in nevada, stuart, with an emergency session called by the legislature and the governor. they are changing the rules of the game in the fourth quarter quarter when the players are on the field and they are trying to sow chaos in this election. let's just talk about nevada. allowing two ballots for every envelope. they are saying ballots that are not postmarked should be allowed to be counted even if they're received after election day. they're expanding ballot harvesting which has nothing to do with safety. i think the most egregious is, they're not even asking people to request an absentee ballot, they're mailing live ballots to

voters without any verification. democrats are systematically trying to derail all the safeguards to election integrity. they will only have themselves to blame if we have chaos on election day. let's remember in new york right now, we still do not have results from their primary 42 days away from their primary election. this is truly frightening. there are many red flags. democrats are continuing to try to unleash this chaos through to november. stuart: by the way, ronna, a judge in that new york city election just changed the rules on when a vote can be counted and which votes will be counted. six weeks after the election the rules have just changed. we still are nowhere near a result. ronna mcdaniel, thanks for joining us. we appreciate it always. thanks very much. all right, nasdaq hit an all-time high just moments ago. okay. i'm not sure about it, it is up

34 points. i saw it above 11,000 recently. not sure about the moments ago hitting all-time high. dow is up 14. s&p is up 4 points. executive shakeup at ford motor company. jim hackett retires. chief operating officer jim farley takes over as chief executive october the 1st. the stock is up 2%. but ford still languishing at six bucks a share. boeing up four bucks. 2.7%. the faa outlining design changes needed to get the max jet flying again. two software changes. the stock is up 4.66 to 166 a share. the price of gold, has it hit 2,000 bucks an ounce? almost. 1998. as for the bitcoin, 11,156. it is down 100 bucks as we speak. the tropical storm storm that made landfall in north carolina

as a hurricane has been downgraded, still dangerous, barreling up the east coast. janice dean is tracking it all. what have we got, janice? >> stuart, still very dangerous. 70 mile-an-hour sustained winds. 74 makes it a hurricane. we have tornado watches in effect for the tri-state area. not done yet. the storm made landfall between wilmington and myrtle beach last night. 85 mile-an-hour winds, it was intensifying as it made landfall. we have seen unfortunately deadly tornadoes in north carolina. a high-risk from the delmarva to the tri-state and connecticut where we could see tornadic activity, if you can believe it. we have several tornado warned storms outside of watches for pennsylvania and new jersey. overnight last night into this morning i have seen warnings

every single hour. this is a big deal. the watch in ex-extent until 4:00 p.m. tornado watch in this area. you don't see it a lot. the potential for really dangerous weather. not only tornadoes but heavy rainfall, three to six inches of heavy rain in a very short period of time will cause flash fooding. there is the track. we have new coordinates at 11:00 a.m. stuart, 2:00 p.m. the national hurricane center is forecasting a 65 mile-an-hour storm as it moves through new york city. that will cause a lot of problems. pouter outages. tree branches and trees down. this could be extensive because there are millions of people along the path of this storm. forecast precipitation, we've seen many inches of rain overnight. two to four inches as the storm moves northward. good news, it is moving quickly into canada, ahead of it we have flash flood warnings in effect from d.c., philadelphia,

new york city, even into maine. some of these areas, by the way, stuart, across new england haven't seen a tropical storm warning in nine years. so this is a big deal. if i could just leave off with, we are watching the potential for more tropical development. already an historic year in the i-named storm. this could be j next coming days, close to the u.s. hopefully curling to sea. we will keep you up to date. stuart: we consider ourselves warned. thank you, janice. see you soon. looking outside of sixth avenue. getting dark and cloudy already. president trump says he wants a cut of tiktok sale if the it goes ahead? that is interesting. brian kilmeade will have opinion on that. more woes for the baseball guys, 13 members of the st. louis cardinals testing

positive for the virus. their four-game series postponed. mr. trump, president trump, pushing for schools toe reopen. our next guest says it is a fantasy. we'll ask him, why can't we reopen schools? second hour of "varney" just ahead. ♪

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and adapt with a network you can count on, 24/7 support and flexible solutions that work wherever you are. call or go online today. stuart: presidential tweet, sharp, to the point, all caps, open our schools! our next guest says reopening schools is a fantasy. jeff is the superintendent of schools in the hayden winkelman

district in arizona. jeff, welcome to the program. >> thank you. stuart: you want to reopen the schools. i know, you really want to get back to classroom learning. why do you say that it's a fantasy? >> well i say that coming from my land. i lost a teacher during the summer. three teachers teaching, team teaching a summer school and they were all using all the precautions and they were using their own devices. they were team teaching because we were trying to learn to use the online tools because of the second wave we're expecting in the fall. we wanted to be prepared this time around and that didn't work. and as former elementary school teacher, i just don't see kids staying six feet apart and what

worries me most is that these kids, they may get it and be asymptomatic but i have so many of my, my children, students go home to their multigeneration families in a close-knit community and i don't see how that is not going to be transmitted to their grandparents and through other of the community. right now -- stuart: i do see your point but, a, you can never make schools 100% safe. you absolutely cannot do that. you will never have absolute safety in the schools. and b,. >> right. stuart: by going to non-classroom education, going to online education, you are depriving students of a good education because we just don't have it set up right at this moment. you're condemning them to, i'm going to call it substandard

education for way into the future, as far as the eye can sell. >> i don't think, i think there is some things that are happening now with vaccinations and i don't think it is going to be forever. i'm just trying to keep my staff and my community and my families safe until that time. and i don't know a teacher up against a plexiglass with kids in masks and a teacher who is scared to death, i don't think you can just put kids into a classroom and they're going to learn. so i think there is some online engaging teaching that can happen we were prepared to do in march but we are prepared to do that now. if i can keep my staff who are scared to death, of course, you know, this is all coming from my perspective, and i'm scared for teachers in arizona. i'm scared for teachers throughout america, that they

risk of catching it and, you know, we can't afford to lose more kims. stuart: jeff, we do hear you. there are two sides to this argument. i just hope that the kids somehow or other come out educationally ahead of the game. i don't think it looks like it at the moment. jeff, thanks for joining us, sir. we hope to see you again. >> thank you. stuart: yes, sir. not much movement on the markets although we see quite a lot of green. nasdaq is up, s&p is up, dow is up six points. that is where it is. show me regeneron. the company has an anti-body cocktail that prevents and treats covid-19 in animals. needless to say, the stork is down about eight bucks. that is one 1/4%. code diagnostics, that stock went to the moon yesterday after the fda approved the at-home spit in a tube saliva test for

the virus. here is what the codiagnostics ceo told us last hour. roll the tape. >> you send the test to a clinical reference lab. they're located located in kans. they are incredibly high-through put facility. they can do a lot of tests. so then you get your result on the internet with an encrypted coding to make sure you're the only one that has permission to get the test results. stuart: that is dwight eagan, who told us that the cost is roughly 125 buck as test. it would take a minimum of 24 hours to get the results back to you. that is co-diagnostics. show me microsoft. they're down 1 1/2%. they went straight up yesterday when they announced they were buying tiktok. since then president trump wants to take a piece of the sale

price. that is a most unusual suggestion. he made it. the stock is down a couple bucks. facebook, the social media got it, lease ad famous building in new york city. i don't think that is affecting the stock price. i want to know which building? susan: it is called the farley building or former post office building. next to madison square garden. stuart: it is huge. susan: really big, 130,000 square feet. facebook has been gobbling up a lot of space in new york city. gop he willing up 2.2 million square feet. it's a positive sign for new york. despite many office buildings remain shut or minimal staff. only 10% of workers came back to their office from covid, maybe work from home is not forever. that might be a bullish sign. facebook is optimistic, eyeing cheaper prices during covid i imagine. facebook has four thousand workers in the city. that strip from hudson yards, to

penn station, which includes chelsea is becoming a tech corridor. google, apple, amazon leasing space in that area. stuart: that is the old post office building. it is gigantic. i used to work next door to it. it occupies a entire city brock. a million square feet or more? susan: something like that. facebook gets 130,000. it was built one hundred years ago. even you weren't around. stuart: you got it. thatthat is a good sign for new york. big citieses in general if facebook is prepared to lease all of that space -- susan: not all of it. it will be used for restaurants and there is some entertainment. but the office space, facebook take as big chunk of it. stuart: got it. susan, thank you very much indeed. the protests in portland may have cost local businesses upwards of 20 odd million dollars. who pays? i will ask the question.

stimulus talks still on hold. they're being negotiated i guess you could say. i will ask top white house economic guy larry kudlow. where is the stimulus? when will we see it? look at times square. nobody there. called the crossroads of the world. a little it about traffic. no people. there is a storm coming. that is a deserted times square ♪ ♪ ♪ ♪

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have used a reverse mortgage loan to finance their retirements. it meant so much to nellie, maybe it could mean as much to you... call now and get your free infokit stuart: now this is scheduled to happen just a few minutes, we're talking about the president signing the great american outdoors act. you can see the people assembling there. before we go to the live signing ceremony, lauren, what is the great american outdoors act? lauren: it will invest nine 1/2 billion dollars over five years in our national parks. not only expanding them but also restoring them. it will remodel some of the parks, the water systems. expands parking of course maintenance. outdoors is popular right now. so the signing will happen any minute. what is key here, this act

passed the house and senate with sweeping bipartisan support, bipartisan support. it is good for two western republican senators, cory gardner, steve daines, they're in tough re-election battles. something passes with sweeping bipartisan support, there is a need for this, especially now, to fix our national parks. stuart: got it. got it. all good stuff. hold on, i will break into this. what's this i see here? a report that apple wants to buy ticktock. what do you know about this? susan: this is according to "axios." according to their sources, none of them inside of apple mind you. they say multiple sources that apple is expressing interest in buying tiktok. i want to caveat this. apple doesn't usual live make these type of purchases and acquisitions. they prefer to grow organically. i've had the conversations with

apple executives. the largest acquisition was beats headphones for $3 billion. that was for the music. five billion plus round and social media i would probably caution to think apple might be interested. you have to take a look at it. i think "axios" is thinking of all the tech companies with a ton of cash on their balance sheets that have the amount of dollars able to buy a property like tiktok. this is not in apple's playbook. they aren't in social media this is a cross platform play as well. there is a lot of geographies in play especially china and the u.s. that could get messy for a company that already operates on both sides and have been caught up in trade wars, right? stuart: i can see how something behind the report. i mean look, apple's stock is now up six bucks. microsoft's stock is down four bucks. i can see how tiktok, american business, 100 million users

already, and an established social network, i can see how that would be interesting to a company like apple. they certainly got the money. susan: right. stuart: seems to me what we're looking at is an acquisition by big tech using all the cash they have got, whether it is apple, microsoft, somebody else, i don't know, but they're in the acquisition mode. susan: i wouldn't discount you have telcos in play. for instance, verizon. that would be interesting acquisition to extend that their broadband. a lot of people at play. the companies with the actual cash to make this type much execution are the big tech companies. however, if you saw in d.c. a lot of them are also under the antitrust microscope. you can't discount the fact you have to take a second look at fire-sale prices if it is five billion instead of $50 billion. it might be a deal on the table. stuart: a bargain is a bargain, is it not. that is a fact. we still don't know how america,

the treasury, president trump would take a piece of any sale of tiktok. i don't know how that works out. have we figured that out yet? susan: no, we haven't. president trump is floating this is a key fee, which is a fee or percentage or actual physical amount of cash that somebody who brokers a deal between two sides gets after the deal is signed. that is something that hasn't happened in u.s., especially not from the office of the president, so that should be interesting and intriguing. legality i think still is in question as well. if you look at microsoft. we're down about 2%, of a rallying close to 2% yesterday. president trump also said himself, identify there could be other suitors besides microsoft in play to buy up tiktok. they have until september 15th to clear the deal. or it will be banned from the u.s. according to the president. he said a lot of people are excited taking a look at ticktock, 100 million users here in the u.s. 800 million

globally,down lloyded 2.2 billion times. you have a ready made social media app. there are at love other people on board, could be buying it at fire-sale price is, the president said we'll ban this thing if it is not sold in 45 days. that is a forced sale, no question. i see apple up 5.50 and microsoft down about $4. the market is mulling over who else might make a bid for tiktok. susan, thank you very much indeed. let's get to the reopening of the schools. we'll be discussing a lot of that on the show this morning. left-hand side of the screen, we're waiting for the president to sign the great american outdoors act. we'll take you there in a second. our next guest says both notre dame and purdue, they are able to keep their schools open for in-person class class. they will practice social distance but keep their schools

open for in-class teaching. senator mike braun, republican from indiana. senator, we heard from a superintendent of schools, k through 12 in arizona, saying teachers are scared to death. they don't want to go back to the classroom. he doesn't want any kids or teachers infected. he is going 100% online learning for the rest of the year. what is purdue and notre dame is doing that arizona won't do? >> stuart, good morning. i listened to that. thank goodness we have education controlled locally. i was on a school board for 10 years, from 2004 to 14. you will get an earful of something. i have always said if you want to get a job like mine, that is a great place to see if you have the temperment to do it. we in indiana, reflected in notre dame and purdue. are enterprisers. we'll not err on the side of taking bureaucratic approach,

easy shutdown, one size fits all, that is the approach on the disease. thank goodness you have a guys like mitch daniels, never looked at the status quo or conventional being a way to do it. he and notre dame following suit will set the stage for what we need to do and that is try in a mitigated way to get back to where you're most effective teaching kids, whether it is in elementary school, secondary or postsecondary. listening to the fellow from arizona, thank goodness we have that ability to make these decisions locally and i respect that but that is taking a stick your head in the sand approach, trying nothing, hunker down. that's not going to work. i think that spans the political spectrum. you can see it across the country. that will not solve our current problems. be safe, take a little risk. address this disease head-on. don't hunker down. stuart: take a little risk.

>> life is about that. stuart: you have got to buy bite the bullet at some point. i hate to put it like that but you have to bite the bullet. >> you do. stuart: senator, i'm a little head up of this kind of thing this is one of the most important questions we're facing. i do not want to see our children condemned to the online learning rest of this year and into next year. that is what is staring us in the face. >> stuart, it's a metaphor how we're navigating through the whole challenge. being a main street entrepreneur based upon making practical solutions, the way forward is to do both, respect the disease, take a little mitigated risk. stuart: thanks for joining us, senator. it is a hard thing to say. but i think you're right. thank you, senator braun. left-hand side of the screen we're awaiting for the president. he is about to sign to sign the great american outdoors act. while we're waiting, i want to bring in lauren. i know you got young children. i don't think they're school age

at this point, but what do you say to my suggestion here that schools really must and fairly soon reopen to classroom learning? we have to bite the bullet. i mean, i'm being extreme here. what do you say? >> there has been a massive degradation in the behavior and the skills of my children in the past couple of months. i recently read a poll that four in five parents, four in five parents were considering homeschooling their children. is this something i can do. i called the national homeschool association and they said, look, homeschool something very popular. it is very easy and it doesn't take income into consideration. anybody, you don't even need a college degree, can do it. i questioned this person, i said look, my kids don't listen to me. this person went on and on and on. i'm bringing this up.

back to you, stuart. the president is being announced. stuart: yes, lauren. there is the president walking into the room there. he is about to sign this great american outdoors act. he is approaching the podium. he will start to speak. we are going to listen. president trump: thank you very much. thank you. [applause] thank you very much. please. great honor to have you at the white house and we're here today to celebrate the passage of truly landmark legislation that will preserve america's majestic natural wonders. priceless, historic treasures and that is exactly what they are. grand national monuments and glorious national parks. this is a very big deal. from an environmental standpoint, from just a beauty of our country standpoint there

hasn't been anything like this since teddy roosevelt i suspect. in a few moments i will proudly sign the great american outdoors act into law and so many of the people here today have been so involved. i will be introducing you and some will say a few words. we really appreciate what you've done for our country. for more than 50 years congress has struggled to adequately fund land and water conservation, leading to a never ending backlog of maintenance and other critical needs in our parks and public lands. i've been hearing about this for years. i've been watching it and hearing about it for years. today more than five a 5500 miles of road, 1700 miles of trailings and 2400 buildings are in critical need of repair. they have been for a long time. many are closed, boarded up. they thought it was less expensive to close them than it

was to repair them. some are magnificent. earlier this year i called on congress to pass legislation that would end this maintenance backlog once and for all. today we're making the most significant investment in our parks since the administration of the legendary conservationist president theodore roosevelt. this landmark legislation would not have been possible without the incredible leadership and hard work of two outstanding senators, in particular and two fine people. cory gardner and steve daines. i want to thank you both. [applause] i can just say as a side note, they would call me all the time. i said can you guys stop calling me so much? but they would call me all the time. they wanted to get it done this. was very important to them. so i appreciate it, steve and

cory, really a great job. people thought you had zero chance of getting this done. this was big. stuart: we'll leave the president, left-hand side of the screen, he is about to sign the great american outdoors act. we got that. we're dealing with a very important business news story here, right here on fox business. we are getting reports that google and facebook are also interested in taking a piece of tiktok, as well as apple as we reported earlier. do we know anything more about this, susan? susan: we have charlie gasparino reporting that google and facebook have expressed interest in buying up tiktok. as for apple this, is an "axios" report that cited multiple sources but none of them inside apple. from my understanding and my discussions i don't think that apple would be interested in this type of property. they're not interested in getting bigger in social media. they're also not interested in acquisition of this size. the largest acquisition they have made was for beats back in

just a few years ago $3 billion. that was more for the music catalog and growing apple music instead. they prefer to grow organically as we heard over and over again from their executives. i don't think apple would be interested in buying up ticktock. plus there are regulatory hurdles when it comes to antitrust, cross-platform, cross geography hurdles. as far facebook and google i would look at at antitrust hearings. they are under the microscope for being too big in facebook's case. purchase of instagram and whatsapp, whether or not that gives facebook way too much control when it comes to social media. so who actually has the capacity to buy tiktok? it would be these tech giants because they do have the cash but do they have the bandwidth when it comes to regulation and comes to interest? i would say not in apple's case. maybe google, facebook.

stuart: depending on the price. stuart: it is fascinating. big tech have all the money, there is a dirt cheap, ready social network for the buying. somebody will take it. i find it absolutely fascinating who is able to take it. they have got the money. we'll be covering this for the next hour 1/2 for sure. susan: yeah. stuart: let's -- we're still looking at the president. we're waiting to see if he says something about anything other than the great american outdoor act. he is introducing it now. he is going to sign it shortly. we're listening to anything he might say. the dow industrials have turned around. we're up 47 points. some green on wall street. but it is not an overwhelming rally by any means. a lot of jockeying for position who buys tiktok. apple, facebook, google, microsoft. a lot of jockeying for position going on. that is moving markets. the dow is up 53 points. if you're sick from working from home, you can work from a hotel.

a let are turning suites with office spacings with special daily rates. interesting story. it's a pandemic story, isn't it? we have details. president trump giving the sale of tiktok to microsoft the green light on the condition that the u.s. treasury gets a cut. now there is more interest from other companies? we'll see what brian kilmeade makes of all of this. he is next. nd pants that aren't sweats. find your friends. find your sense of wander. find the world is new, again. at chevy we'd like to take you there. now during the chevy open road sales event, get up to 15% of msrp cash back on select 2020 models. that's over fifty-seven hundred dollars cash back on this equinox. it's time to find new roads, again.

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stuart: well, i'm seeing some green pretty much across the board. dow, s&p, nasdaq all on the upside. a gain of 70 points now for the dow industrials. 26,700. look at the hotels. some are getting creative trying to make money during the pandemic. lauren, turning hotel rooms into offices, is that what they're doing? lauren: yep. meantime as they await the return of tourism. the biggest perk of working in a hotel is the quiet, especially if you live in a big city, couped up in an apartment in a small space, that is a perk. you also get high-speed internet, in some cases free snacks and you can use the gym. fill the gap as hotels are losing up to $400 million per day in room revenue. so that is a big blow. they're trying to fill that gap. stuart: that is a big gap to

fill. thanks, lauren. lauren: right. stuart: more positive covid tests in baseball. baseball just began its shortened season. this is a big problem looming here. we have another team has gotten more people on its team who are positive for the virus. brian kilmeade knows a thing or two about this and he joins us now. brian kilmeade on the radio, joining us on tv. brian, i don't think this looks good for the baseball season. what say you? >> i'm not worried about it, and here's why. you know what i think does look good? the marlins will come back and play. why is that a big deal. we always hear this thing called positive tests, he had a virus, maybe we come back to work but not high-profile people. i haven't really seen tom hanks and maybe appeared on a special but now you're going to watch 13 players come back to play baseball, a week 1/2 after they were positive tests. you will watch the eagles coach come back, he is asymptomatic

and play. people will begin to realize, we can get this, beat this, and have two negative tests go back to our lives. maybe not being paralyzed in fear in the corner while still respecting the virus. what they have got to do, i don't blame the commissioner for saying this, guys, players, if you don't show more discipline, derek jeter said the same thing about his own team, he owns the marlins, if you don't show more discipline and respect for the virus we can forget this whole thing. i think we've seen enough to get a season in. stuart: i don't know whether you've been watching baseball on tv. >> a little bit. stuart: not the same. no fans. no crowd reaction. none of that spontaneity you get. not quite the same. i'm wondering watching baseball with no fans in the same numbers as we watch baseball with fans? >> no it is off. after immediate surge after started playing. ratings are cut in half.

nobody does it better than fox. they put production value with murmur underneath. reying to work a way whereherehe peoplet at heomeomheheer a o.o. o. 'thi'tnk thank t i readyor for e prmeprme.et. if you'v younoun w we hav he h be.fore sowtuow y n yote nehehe t besebesl fan f, i was was w tching ehingspn, knnnasebalasal woby tby sit s s in s i s s oteccotico callingal k kn, not t even japanesee beut kea kn k seballse. that isowesowperaowte w to tchebalebal i n' k one oneneerner buter b i was swall swa s s watching. they had empty stands. the question is what is better, empty stands, owners losing a lot of money, players getting prorated money for 60 games, none at all. i like seeing guys out there playing but i do notice it, it is surprising me. ratings are not great for baseball or basketball. stuart: i think pandemic, lockdown really changed a lot of things, including our relationship to sport.

you may say there is a big interest in watching stuff on tv and, ratings are down a little bit but i think it is going to be years and years before we get back to jam-packed stadiums, 80, 90,000 people, shoulder to shoulder. we have scott shellady on the program earlier saying he four or five years ago he was in a crowd of 105,000 people watching college football. it will be years before we ever get back to that. i agree to that. what say you? >> i don't. here's why. i think there will be something to this. remember the people, there is lot of watching, cry when your team loses a big game, cheer. changes out look on life when they win. living or dying depeppeds how many games the mets win in a row or university of alabama winning per championships. cepdas, i will quilt baseball.

normal sports radio made it into national radio story, highest paid player, in america, left communist cuba to get here, he is leaving all that money on the table and walking out without telling anyone. not a peep. people write about that. we're putting sports more into perspective. if you could go to alabama -- auburn tomorrow, everybody listen this that would go to the game tomorrow would go now. stuart: i hear you, brian. i'm intrigued at the changes in our own lives, all of us because of the pandemic, because of the lockdown. i think changes are profound and i'm not quite sure how i'm changing in line with the rest of the country. i'm just not sure. >> final thought is this. leveled the playing field. there was a time, stuart, you went to watch the dodgers play the yankees and you might ride to the game in the subway with the dodgers. they were making about as much

money as you had to have a job in the off-season along with the yankees. at one point sports got so lucrative in the '80s, 10 million-dollar man, 20 million-dollar man, now you have 105 million-dollar man and above. we watched hollywood. related to the stars. never really saw them. equaled the playing field. kind of look at them our level now. stuart: we got to go. we'll get cut off any minute. >> go get em, stuart. stuart: i shall. more "varney" after this, with larry cut low coming up this hour. kudlow ot a little surprise... two!? ...they didn't panic. they got a bigger car for their soon-to-be-bigger family. after shopping around for insurance, they called usaa - who helped find the right coverage for them and even some much-needed savings. that was the easy part. usaa insurance is made the way liz and mike need it- easy.

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stuart: almost 11:00 here on the east coast and we have the nasdaq hitting an all-time high this morning. right now, it's at 10,915. the dow is up 87. i see a lot of green over there. take a look at three big tech giants. apple, google, facebook. reportedly considering taking a piece of tiktok, maybe setting up a bidding war with microsoft for tiktok. however, we've got this to report. axios now reports apple is not interested. earlier they said it was interested. now they say it's not. look, whoever buys tiktok, president trump wants the treasury to get a small piece -- i don't know about a small piece, a piece of the sale price. look at those big tech stocks move all over the place. in a few minutes we will speak to national economic council director larry kudlow about the tiktok deal.

and we have a powerful storm making landfall in the carolinas. it's now moving up the east coast of maryland. that's right now. it's a threat all the way up to maine. serious flooding, tornadoes in some parts, too. now this. you just can't ignore what's going on with the election in the twelfth congressional district in new york city. yes, i know it is a very small local primary and i know i have spent a lot of time on it, but an election crisis is coming. new developments in new york will make things even worse for all of us. there were 65,000 mail-in ballots in that june 23rd election, new york city. to be counted, they were supposed to have been postmarked by that date, june 23rd. that's a clear rule. postmarked by election day or they are out. not so fast, says judge torres.

she says some of the ballots that arrived after june 23rd may be counted. six weeks after the vote, with still no decision, a judge changes the postmark rule and throws yet another twist into an already wildly confusing situation, and worse, the judge says ballots received as late as june 30th, a week after election day, could still be counted quote, if they could decide the race. what on earth does that mean? count them or not count them. valid votes or not valid votes. who wins, who loses? we don't know. we will not know for some time to come. you can see where this is going in november. delay, countless legal challenges, allegations of voter suppression, a pitched battle in a divided electorate with a lot of people not accepting the results. like it or not, tens of millions of mail-in votes will be cast in november. the rules on counting those

ballots are all over the place. as we can see in new york city, they can be changed by a judge weeks after the vote. look, i hate to be negative, but election chaos is coming. it's only 90 days away. okay? i will deal with this in a moment. first, i've got this. this is a business alert. this is just happening. facebook has removed a political ad put out by america first action. that is a conservative super-pac. apparently it was a conservative ad. facebook claimed that it contained quote, false information. kelly sadler is with us. she is the communications director for america first action. one of your ads has been banned. what's your response? >> this is just more bias by these social media companies deeming what is true and what is not true. our ad claimed that joe biden wants to defund the police. joe biden himself said in an interview when asked if he would be up for redirecting funds from

the police to other organizations, he said yes, absolutely. we fact-checked this with the brookings institution that said what does defund mean and it said defund yes indeed means if you support redirecting funds from the police department. we had this fact-checked, it's up on air right now in four states where broadcast programs have no problem with it. it deemed -- passed their legal muster but with facebook it's been deemed false information and has been taken down. stuart: what are you going to do about it? >> we are going to file an appeal but there's really little we can do about it. these social media giants are monopolies and ultimately they make the decision of what runs on their platform. just this morning, we were notified by twitter that our handle, beijing biden, has been taken down because they're afraid we are going to have false information on that, telling the public about joe biden's cozy ties with china. we hadn't even tweeted anything out from it yet but they already took that handle away from us. stuart: that's just not right.

that is just not right. that is not a free debate and free discussion. you can appeal all you like but i think the damage has been done. >> yes. the damage is done and now that one of our ads has been marked false information, now all the ads that we try to put on facebook are going to be flagged and we will have facebook and their so-called fact checkers over there looking at every single ad we have out then seeing if it can be aired or not. this only happens against republicans and republican campaigns. you never see this kind of thing happening for democratic candidates. stuart: to your knowledge, has facebook banned any ad put out by joe biden or his campaign? >> no. i haven't seen anything. not even fact-checked. not even fact-checked. stuart: not a good start. kelly sadler, i want to thank you very much for coming on the show. you jumped on board there at the very last minute, this just lapp happened and we are appreciative to get your response. let's gets back to your money. it's tuesday morning. we have mike murphy on the

program. i've got to tell everyone, he's been spot-on with a lot of his market predictions lately. watch this, please. >> we are going to need big tech to drive the market to more new highs. that's what i expect to see. >> i don't know when it ends but these companies keep innovating so i'm not a seller. i'm holding all these names. >> if you want to jump into tech, if you missed it for some reason, do it through a basket of stocks. it's tough to pick who's going to be the winner out of the apples and amazons and facebooks and netflix. all great companies. stuart: he's back. there he is. this is a live shot, ladies and gentlemen. that is the real mike murphy, right-hand side of the screen. are we at a point where you would sell any of the big techs right now, any of them? >> well, we are out of facebook. good morning. but when you look at companies like apple, when you look at companies like amazon, when you look at microsoft, those are three that i would continue to

hold and i think an argument can be made for all of them. you focused on tiktok earlier, but when you look at these three companies, they are still innovating, still putting up numbers. that's where the growth is. stuart, the story hasn't changed. stick with what's working. this is where the growth is. own the big techs. stuart: but also, big tech's got the money. i don't know how many hundred billion dollars they've got in cash but they've got a ton of cash. seems to me they are going to use it for acquisitions, and whether it's tiktok or whatever, i don't know, but they are going to be pouring money into acquisition. are they going to face pushback because they are so big already? >> they will at some point but you kind of hit the nail on the head here. the growth may not come organically. it may come through acquisition. when you look at the acquisitions, it's going to be things like amazon buying whole foods to get you groceries. it's going to be things like apple focusing on health and focusing on sleep and i think

making acquisitions around that, i think the whole push into telemedicine is something that apple's going to be part of, microsoft is going to be part of, and amazon will be part of. so although you look at these companies today and they have done great, i think they still have a lot of runway to go, partially because of what they are innovating internally but a whole other part is taking all the cash they have accumulated, going out and buying up the latest and greatest technology and making them inevitable that where they are moving to is something that you have to own these companies and you have to use their products and services. stuart: fascinating. mike murphy, thank you for always being with us. good man. thanks a lot, sir. >> thank you, sir. stuart: we now have the dow industrials up 88 points. look at twitter. could be slapped with a $250 million fine from the ftc. they reportedly used user data that was meant for security for advertisement targeting. not sure i understand that.

there's a possible fine here. no impact on the stock. it's up six cents, $36.47. bayer ended up losing over $11 billion in the second quarter because of their roundup settlement. they also gave a not so rosy forecast for the rest of the year. bayer stock down nearly 4%. next, google preparing their cloud software for a gangbuster black friday. what's that all about, susan? susan: well, we know that covid has accelerated online shopping trends, up 76% in june alone. so black friday and christmas will be blowouts when it comes to e-commerce. that means a boom for cloud providers like google cloud. cloud technology is used to host websites and store data as well which is a key part of many retailers' e-commerce operations and platforms. fees are often paid to site traffic, that means a jump in activity will drive up revenue for that unit and that means more google cloud fees. wayfair, one of google's customers and they lean heavily

on the cloud services months in advance to make sure they have enough servers and space to withstand any increased or spikes in shopping during holiday discount days like black friday and cyber-monday and google cloud has generated 30% of google's revenue in the last three months of the year the past two years, and cloud spending hit a record, by the way, in the second quarter, up to $36 billion. stuart: $36 billion. we just chuck out these tens of billions as a matter of fact. enormous amount of money. thanks, susan. look at ford, please. their ceo is stepping down. that would be effective as of october 1st. lauren, who takes his place? lauren: yeah. jim hackett is out after three years. under his leadership, shares down 40% so jim farley is coming in. he's the company's current c.o.o. this is effective october 1st. look, he's going to take over as ford prepares to roll out three key vehicles, the mustang, the electric one, the bronco suv and

a new redesigned version of the f-150 pickup. so they are saying that jim hackett didn't inspire confidence, he didn't see this electric future for ford and they are hoping that farley can. they have had four ceos now since the financial crisis. stuart: yeah. tesla is worth more than ford, general motors, fiat chrysler and honda combined. i wouldn't want to be running a ford or gm in an environment like that. what do you make of it? i just wouldn't want to do it. thanks, lauren. lauren: it's a tough job. that's why they keep getting a new ceo. stuart: indeed. white house and top democrats meet on capitol hill again today. they are trying to hammer out this stimulus deal. the president's considering an executive order to get it done fast. what will larry kudlow say about that when he joins us in just a few minutes? can the president juice the economy with an executive order? we'll find out. federal agents forced to respond to protests around the country. at what cost to the taxpayer?

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now that's simple, easy, awesome. switch to xfinity mobile and save up to four hundred dollars a year on your wireless bill. plus, get two hundred dollars off when you buy an eligible phone. stuart: at least 41 people are sick with the virus on a cruise ship in norway. the outbreak happening just as cruising trying to restart in some parts of the world. look who's with us. captain john w. murray, the ceo

of port canaveral in florida. that is the second busiest cruise port in the world, bar none. captain, welcome to the program. it's very good to see you today. >> good morning, stuart. a pleasure to be here. stuart: if i said this to you, i want your response, without a vaccine there will be no cruising for as far as the eye can see. what say you? >> i would tend to disagree with that. for the simple reason that there are many ships at sea, not just cruise ships. there are cargo ships, there are military vessels. at the end of the day, every vessel at sea lhas to deal with coronavirus. in my personal view, it's how we deal with it. if there is no virus, you still have these ships at sea. it's a matter of developing the right protocols to protect the people on the ships at the time when they are at sea. stuart: well, as i understand it, there's a no-sail order until october at least. i think that's true of cruises coming out of america. what's that doing to your port

and the environment around the port? >> well, it's been devastating to us as a cruise port. it's also devastating to other cruise ports around the country and it's not a situation unique to florida ports. alaska, for example, has communities that are very dependent on the snummer cruise traffic for their entire fiscal year so it's a very difficult situation. the no-sail order actually prohibits the ships from sailing in and out of the united states right now. so it's devastating from a financial perspective for the port, our port, but we also have cargo operations and that is sustaining our other operations and even the cargo ports are feeling the effects of covid and the lack of imports into the u.s. stuart: as i understand it, the cruise industry is looking for $1.5 billion from the government as a kind of relief fund. why should taxpayers pay to relieve cruise lines which essentially are offering

entertainment? >> if i can correct you on that, stuart. it's not $1.5 billion for cruise lines, to my knowledge. the $1.5 billion we are talking about is for america's seaports and that is to be split among all of the ports in the united states. that legislation is currently being contemplated or versions in both the house and the senate to deal with that, and provide immediate relief for seaports, keeping in mind that our seaports are the infrastructure that supports this country. 90% of our commerce comes by water, not by air. stuart: got you. captain, thanks for joining us, sir. we do appreciate it, always. >> thank you. stuart: the restaurant industry, that's in trouble, getting pummeled by the pandemic. however, jersey mike's is trying to help its franchise owners stay in business. it's allocating $150 million to help renovate these restaurants and there's 2,000 jersey mike's outlets. the ceo of jersey mike's is with us. i'm really interested in this

idea of renovating restaurants to take account of the pandemic. are you going to go big with drive-through the way some other restaurants are changing? >> thanks for having me. no, we take the drive-throughs when we can, they are usually end caps but a lot more expensive and really haven't been worth it for us. we do have some, but we are going to stick with what we've got, the small square footage next to starbucks, next to chipotle. jersey mike's subs, we go in there and mostly take out. people order, pick it up at the door, curbside pickup, and a lot still come in the store but they are like eight feet away from the people making the product, employees feel safe, they put some plastic down from the ceiling to the counter. so really, we were able to continue to stay open and serve during the entire pandemic and still. stuart: how much did your business come down? i know that's not a question you particularly want to address, but i'm sure your business did come down from mid-march until

probably to june. how far down did it go? >> we got hit with everybody else that first mid-march week and it was just incredible because the governors came online and were saying we're shutting down. all the public thought that everyone was shut down. so we went on the tv and because of the tv that we did, people found out that we were open, we were one of the exceptions in the restaurant business, that we continued to serve the public. an incredible job the owners did, serving first responders, senior citizen homes, kids and families in need. it was incredible, what they did. stuart: so what will the $150 million do, exactly what renovations are you thinking of? >> so october, november, december, we went out nationwide, 27-city tour, and told the owners our mission statement is giving, making a difference in someone's life. we always talk about pulling people along so we are going to talk about that, i announced we were paying for the retrofits,

about $75,000 per store, the whole front of the restaurant, do tables and chairs, back line counter, so it was a refresh. most restaurants don't do it. maybe 10, 15 years. we feel it's important to do it like every seven years and now we are kind of looking at everything every year to make sure it's sort of tweaked a little bit. will it be done by july of this year coming so one and a half years renovated almost 2,000 restaurants. now, no franchise company as far as i know ever did anything like what we're doing. [ speaking simultaneously ] stuart: that's remarkable, all hands on deck effort. congratulations to jersey mike's. thanks for joining us. we appreciate it. breaking in to bring you this news on the battle for tiktok. susan, am i right in saying that apple is now saying no, they're not interested? susan: it's official. they said we are not interested

in buying tiktok and we are not holding discussions to buy tiktok either. this is after an axios report quoting sources that none of them inside apple, mind you, suggesting that maybe apple would be interested in buying up tiktok and competing with microsoft in this purchase. but apple says we are not interested. it makes sense, as i told you, this is not the type of property that apple would be interested in. there's a lot of regulatory hurdles to clear in social media, also across geography when it comes to china and the u.s. and we know how tense those relations are. apple doesn't like to make these type of acquisitions, the size of acquisition. the largest one they ever bought was beatz and that was more the music catalog. now it's official, even though apple does have the cash, we know they have $194 billion on the balance sheets, they are not interested in buying tiktok at this point. but you have to speculate, i think a lot of people are speculating the only people that have this type of cash and fire power to afford tiktok at $5 billion or something up to $50 billion would be the tech giants

like facebook, google and microsoft. stuart: yes. i'm noticing apple's stock is settling down a bit. it was up seven on this first report. now it's up two. microsoft, which was down i think about four or five bucks, i think is now down about two or three. that's a difference there in the stock price. thanks very much. let's deal with sports. the st. louis cardinals postponed games, 13 members test positive for the virus. they hope to play on friday. does that sound realistic? we will deal with it. top federal official is raising eyebrows with his idea to save the economy. watch this. >> we were locked down lard for a month or six weeks, we could get the case count down so our testing and contact tracing was actually enough to control it. stuart: he wants a second lockdown to save the economy. how about that. wonder what larry kudlow will think about that. he's next. ♪ introducing stocks by the slice from fidelity.

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stuart: right on time, as

promised, we are joined right now by larry kudlow, top economic adviser in the white house. larry, good morning to you. welcome back to the program. >> thank you, stu. appreciate it. stuart: i want to talk tiktok. the president wants to take a piece of the sale price of tiktok, whomsoever it might go to. he's going to try to take a piece of a private transaction. what do you make of that? >> well, look, i don't know, there's no specific blueprint here. the big thing is in 45 days, if ibm and tiktok have come up with the right plan which allows for all the necessary software, information, personal security, the president is inclined to go with it. that's the key point. stuart: it's an extraordinary precedent, larry. the president acting as almost a broker in a deal with the treasury taking its piece. we have never seen anything like that before. >> true enough, i guess. i can't remember.

but look, i don't know if that's a key stipulation. it may be that the president was thinking because the treasury has had to do so much work on this, a lot of options here. i'm not sure it's a specific concept that will be followed through. right now, the key point is the transaction can go ahead in 45 days if all of the concerns are met. those are the concerns on security and those are the concerns on information. there's going to be some software patches and so forth, we'll see. but i think on the whole, it's a very good idea, it's a very promising idea, if it meets all of our security concerns. i think that's the key point. regarding fees or anything like that, all that remains to be seen. stuart: here's another one on what the president can do and can't do. i want to talk about the stimulus talks. they are still ongoing, i got it, but we are hearing talk that the president would use an executive order to juice the economy, get a stimulus plan going.

can he do that? >> well, i think he can in certain cases, yes. maybe not all cases. look, i felt myself that this should be a growthier plan in general and as you know, the president has favored the payroll tax. democrats seem to be very opposed to that. the republicans have backed off. i don't know if that's the final word, maybe it is, maybe it isn't. there are other measures that are being discussed in the senate. for example, so-called cash-out of net operating losses. in march, we created the nol, you can carry backwards your losses in 2020. everybody's going to lose money in 2020. there may be a way to have a refundable tax credit to give companies the juice this year. that probably requires legislation but it might not require legislation. expensing would require legislation, there's no question about that. regarding an idea by my pal

steve moore, deferrals, i think strictly speaking legally, that could be done by executive order. i'm not sure, though, that it would play very well on either side of the aisle in congress. steve's a good guy and he wants to make it growthier, too. i think if you are going to go payroll tax, you are better off cutting the tax rate. i also think, by the way, one very important issue, look, the two things that are really front and center is the extension of the eviction moratorium. that i think can be done by executive order. particularly because in march, the way that was done, it was federally backed, fannie, freddie, fha, that was done administratively by hud. that i think could be done. we've got to fix and extend the unemployment issue right now. i don't think that can be done administratively. i think that requires an act of congress. but that stuff should be done right away. we should get an extension on the unemployment right away and then work to reform it over a

period of time, all of which is doable. i don't know what we're waiting for. stuart: mick mulvaney has been on this program twice in the recent past, both times he said look, there is no way on god's green earth that three months before an election, the politicians won't be out there spending at least a trillion dollars. you're nodding your head. i think you agree with that. it's going to happen. there's going to be money spent. >> money will be spent. mick mulvaney is a great american and a former budget director and chief of staff and friend of mine. yeah. look, you're going to get a package. i don't want to -- look, they are making some progress as reported correctly, in most of the media accounts. the talks are becoming more productive. i'm not here to negotiate or anything like that. i don't know what the timing is going to be. we will see. stuart: but you have no doubt that something gets passed? no doubt at all? >> whone has to always have dous

these days. politics, legislation, it's pretty tricky business. you never quite know what's going to happen. i just want to say one thing. it would be awfully good to get this done and provide some confidence and reassurances. it would be awfully good to make it growthier with some of these tax ideas and perhaps some more deregulation. that would help. i do want to say, though, good news front, look, you are getting now nationwide some flattening in the cases and the fatalities and it's starting to hook down. it's still a level that's too high. there's still a lot of hardship out there, not suggesting otherwise, but again, using the guidelines, right, distancing and masking and hygiene and where applicable, testing, you want to open the schools, you want to open the businesses, you want to get people back to work, you want to get the economy going. the ism report was fantastic for manufacturing and by the way, the new orders component was

fantastic. and you've got a situation where inventories are rock bottom, car sales are being replenished, car production is being replenished, housing is in a boom-like situation and i think some flattening in july but i think the employment numbers are going to be very strong. i think unemployment will continue to decline. congress should just get going, make it as growthiest as possible and get it done to provide some confidence so we can get on with the great business of american prosperity. that's what i want to see. stuart: but you're fighting the lockdown of the economy, the closure of the economy. there are some big population democrat states which are not coming out of the lockdown easily and quickly and we have the president of the minneapolis fed saying look, we need another lockdown to save the economy. we ran that sound bite just a few moments ago. there's an enormous amount of pressure to keep things locked down. which will affect the v and it

will certainly affect the third quarter growth figures which we get right before the election. >> yeah. well, the atlanta fed gdp now is now scoring q3 at 20%. you've heard that from me any number of times in the last few weeks. i'm going to stay with that. i do not believe -- i do not believe a lockdown is a good idea at all. i think you've got to take the mitigation measures in the hot spots, as i said, the four guidelines, but i don't think any lockdown is a good idea. i don't think locking schools down is a good idea. i think we should do everything we can, everything humanly possible, with safety and security, to keep the stores open, to keep the schools open, to keep the economy open. because look, it's not just about the virus which hopefully nationwide is now flattening out and trending back down. that's the hope, all right? but it's also our wellbeing.

it's also our psychological wellbeing. it's our personal wellbeing. i mean, there's huge problems with these lockdowns. we've learned that. i believe we did it right last winter. i believe if you follow the guidelines, we will keep the mitigation on the right path right now. but this idea of more lockdowns, people just throw this out willy-nilly, forgetting the enormous human cost as well as the enormous economic cost. the country can't take that and there's no reason for that. particularly because the mitigation once again appears to be working. so let's get with it. let's get america moving again. you'll get your 20%, the v-shaped recovery i think is still in place. thanks for having me. i love it. stuart: are you getting time cues as well as me? wrap, wrap, wrap. i was getting it -- >> i can feel it. i've been in the business. i could feel it coming. stuart: yes, you have. remember it well. larry, thank you very much for joining us. always appreciate it. >> thank you. stuart: look at this. that's a live look, right-hand side of the screen, sixth avenue

in new york. left-hand side, that is times square. we are being hit right now by major rain. this is part of the storm, the tropical storm. it has arrived in new york city. made landfall in north carolina overnight. it's now been downgraded the a tropical storm but is still dangerous, threatsening to cause a lot of flooding, even tornadoes all the way up to maine. it hits new york as we speak. you know him as the outspoken patriarch of "duck dynasty." he's back with a new message about faith and politics. he's on the show shortly. first, we have been seeing it for weeks. the liberal mob canceling everything from historic statues to paw patrol, for heaven's sake. our next guest says it's time for conservatives to stand up to the mob. he's on the show next. ♪

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stuart: i see some green. nice work there. now we're up 130 on the dow. we're up, lets a's see, up just tiny fraction on the nasdaq. let's get to the nationwide protests we have been seeing. rioters causing millions of dollars worth of damage, leaving the taxpayer to foot the bill. hillary vaughn is with us live in d.c. how much money are we talking about, hillary? reporter: we're looking at over $1.4 billion, stuart. that's according to a projection from a national insurance group that says property damage from the george floyd protests and some of the violence and destruction that ensued from that is on pace to surpass what we saw back in 1992 in the los angeles riots, the largest amount of damage to date. now we're looking to see that

passed completely. it's also been isolated to certain cities as well. the portland police say that property and local businesses there are looking at losses up to $23 million, including the loss of customers that were able to go in and access small businesses and local businesses while the streets were shut down. minneapolis chamber of commerce saying that damage to their properties are approaching $1 billion. they say that does not include the loss of jobs to the local economy as a result of the riots or the looting. but it's not just the damage that these cities are looking at and the taxpayers are facing. a lot of police departments have been spending a lot more on overtime night after night to try to contain these protests. in seattle, over the past two months, they have spent $12.6 million just on police overtime and equipment, and also in seattle, there's a group of local businesses that have filed a civil action lawsuit against the city for what they say is

doing an insufficient job to try to break up the zone that had a lot of small businesses there hostage but it's not just small businesses' paying right now. they could pay down the line to get insurance coverage in the future. stuart: i hear you. hillary, thank you very much indeed. our next guest has a new book called "capital of freedom, restoring american greatness." the author of congressman ken buck, republican from colorado. congressman, i want to talk about the cancel culture. you say liberals are attacking u.s. history. got it. i'm sure they are. but you know, sir, it seems like they are winning. what do you say? >> well, i think there's going to be a backlash you will see in november. clearly the strategy is to show the republicans can't govern, although these cities are being governed by liberal democrats. the book talks about our historical values and why it's so important to remember our historical values. when these radicals tear down statues it's clear that they are trying to rewrite american

history and most americans are sick and tired of it and aren't going to put up with it. i don't think they're winning. i think right now they're more visible. stuart: if you stand up to the mob, stand up to cancel culture, if you do that, you will be labeled a racist, sexist or whatever, but you will be labeled publicly, you will be shamed and it's going to go hard on you. what do you say to that? >> well, i don't think -- look, they will try to label people. i think most americans understand that we are proud -- we have founders who were deeply flawed and that they owned slaves and did other things that were not something that we value right now. but we have to celebrate the fact that they created a new dynamic between the people and government and that dynamic has served us well throughout history, and if we don't celebrate as well as learn from our history, we are making a mistake. so go ahead and put labels on people if that's what the left wants to do. i think most americans

understand those labels are not true, not accurate and will be ignored. stuart: ken buck, republican, colorado, thanks very much for joining us. we wish you the very best in your book. love the title. thanks for joining us. appreciate it. >> thank you. stuart: we are going to talk sports for a minute. the cardinals, as in st. louis, they've got a virus outbreak. ashley, i hear they are planning to play again on friday. how is that possible? ashley: they are. i don't know. that's a very good question. because they are expecting more test results to come back and they are, the team says, expecting more positive cases. right now, 13 members of the organization have tested positive, seven players, six staff members. they are still, i understand, in a hotel in milwaukee, where a three-game series with the brewers was canceled. as you said, they are planning to play the cubs this friday in st. louis. but it's been a very difficult time. we have seen this before with the phillies and the miami

marlins. the number of postponed games is starting to mount now. this is a very condensed season, as you know, only down to 60 games so it's a real struggle right now for major league baseball to stay on track. but they're trying. stuart: they're trying. you're right, it is a major league struggle. that's a fact. ash, thanks very much indeed. all right, everyone. watch this. that is olympic swimmer katie ledecky. she takes a full cup glass of chocolate milk and swims the length of the pool with it on her head without spilling a single drop. the video was taken forgot milk challenge. that's the ad campaign. obviously it's going viral. who could possibly do something like that? katie ledecky did, on tape, no less. we thought you would like to see it. "duck dynasty" star says the country is as divided as ever and he thinks faith could help bridge that gap. we will talk about that. he's our guest next.

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phil is the maestro of all things in the water. he's like a fish whisperer. he can just summon fish and they come up to the surface. got anything? >> no. >> it ain't working out good. stuart: you know that guy. that's phil robertson, star of "duck dynasty." new book out, "jesus politics, how to win back the soul of america." it's about how the lessons of the bible can help bridge the political divide. here is phil robertson. welcome to the show. good to have you back. good to see you again. >> hey, good to be with you, varney. stuart: okay. how does faith play into politics? how does faith bring the two sides together? when this country is increasingly a secular country? >> because they did not think it worthwhile to retain the knowledge of god.

[ inaudible ] people who have renounced god and fallible men say let our government handle it. therefore, the book's about a picture of what the kingdom of god is like for people of faith as they operate within a constitutional republic. we're in red china, we're operating there under the radar, or the kingdom of god is. they whisper the scriptures, varney. they whisper the scriptures and they're hidden away. they ignore -- stuart: okay. robertson, may i call you robertson, if i'm varney, you're

robertson, do you ever think you might just be a voice in the wilderness? >> sometimes it seems that way. but you have to remember, the kingdom of god is about look at the love problem, the opposite of love is hate. we're full of it. kingdom of god says love, patience, goodness, faithfulness -- stuart: we hear you. we hear you. i've got to stop because i'm coming up on a hard break. but i hear you. i will watch and read that book. thanks for joining us, phil. see you again soon. more "varney" after this. from fidelity. now you can trade stocks and etfs for any amount you choose instead of buying by the share. . . .

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of quality and service. you're also getting the great features that any medicare supplement plan provides. for example, with any medicare supplement plan you may choose any doctor or hospital that accepts medicare patients. you can even visit a specialist. with this type of plan, there are no networks or referrals needed. also, a medicare supplement plan goes with you when you travel anywhere in the u.s. a free decision guide will provide a breakdown of aarp medicare supplement plans, and help you determine the plan that works best for your needs and budget. call today to request yours. let's recap. there are 3 key things you should keep in mind. one: if you're turning 65, you may be eligible for medicare - 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: two quick developments on big stories. number one, the president says the election result could take two months, two months because of the mail-in voting. second big story, who is going to get tiktok and at what price? tiktok is the chinese social media platform. it is going to be up for sale. microsoft reportedly will buy it. president comes in, and says, you buy it, i want a piece of the action. this morning there may be interest in tiktok by apple. that report was quickly put aside.

there is some interest in ticktock by google or facebook. that is where we stand as we speak. google, microsoft, alphabet on the downside. that is the story. who gets tiktok and how much they pay the u.s. treasury. neil, it is yours. neil: it all started with dancing videos. who would have thunk? as stuart pointed out we have a nice rally going. not as strong as it was earlier up 125 points. don't be surprised if the guys at the corner of wall and broad are keeping an ear out for any thunder, lightning, all that stuff because remnants of that storm are hitting the northeast very, very hard. up and down the mid-atlantic coast they are seeing 50, 60, 70 mile-an-hour winds and they are not easing. tornado threats around the new york city metropolitan area. we'll hear from