and we are seeing right now florida, texas, they are getting slammed by this virus, getting slammed by the recession. they are not -- maria: we all are. you are absolutely right. we are all getting slammed by this and weaver' g've got some news this morning. thank you all for joining us. i told you, we were all hands on deck. right to "varney & company" we go. david asman in for stuart this morning. have a great weekend. david: thank you very much. we will stick on the good news, i appreciate it. good morning. i'm david asman in for stuart varney this morning. of course we are leading with the jobs number and it was a beat, ladies and gentlemen. 1.76 million jobs added in july. we were expecting 1.6 million so it was a beat. the unemployment rate has come down to 10.2%. it was expected at 10.5%. that was a beat as well. so there is good job news. we have mr. larry kudlow from the white house coming up first

on fox business. he will be talking about the jobs numbers, about the stimulus plan, if we will get one or if the president will have to pull the levers himself without congress. 30 minutes from now, larry kudlow. we'll also ask about president trump issuing those executive orders banning u.s. transactions with wechat and tiktok. shares of tencent, let's see, tencent is down about 6% right now. we'll see how things are going. futures, by the way, are down about 73 points. they had bumped up into the green from triple digit losses earlier when we got the jobs report, but they have settled down a little lower. again, a lot less than it was earlier this morning, before the jobs number came out. as president trump threatens executive actions to get another round of stimulus as democrats are stonewalling any compromise. we are also going to be weighing in on the market trade worries as the president signs a new executive order reimposing 10%

aluminum tariffs on canada and that crackdown on chinese companies listed on u.s. stock exchanges. meanwhile, apple is at a new record, now about $12 away from $2 trillion in market capitalization. and another record for gold and gold is trading up just a fraction right now. but again, it is well over $2,000, $2,071 an ounce. meanwhile, pfizer's ceo says it could have a vaccine ready to distribute by october. we'll be talking about that. and of course, those joe biden stumbles. once again, we've got the tape you don't want to miss. now democrats are trying to kill the nra. will americans be left without police or guns to protect themselves? a jam-packed show straight ahead. "varney & company" starts right now. david: let's get right back to

the july jobs report and bring in first trust adviser's chief economist brian wesbury. good to talk to you. what do you make of these numbers? >> great to be with you, david. you know, a lot of people worried that because some states shut down, that this number would be bad. obviously, it blew them away, it blew the consensus away, and things continue to improve in the economy. i just want to make two distinctions because on one hand we have governors and mayors who shut things down, but on the other hand, america is a free country, people want to get out and when we look at all 50 states, there are nine states right now where the numbers for covid are actually worse this past week than they were the previous week. those nine states only make up about 17% of the u.s. economy, of the u.s. gdp. so what i believe is happening is that people are looking at the numbers and deciding that they want to go out and that's

what we saw. retail activity and leisure and hospitality, they were about half of the improvement in jobs for the month of july. i think it's just people moving to be free in spite of what some governors and mayors are doing. david: i love that. i think you're absolutely right. i don't mean to nit-pick but manufacturing numbers were not what was expected. there were about 220,000 less than expected. what do you make of that? >> i think there's a lot of things happening there. number one, we have seen global trade fall off and a lot of this has to do with transportation around the world and moving people around the world. i think that's going to slow down some of this manufacturing improvement. at the same time, we've also seen, you know, with transportation, et cetera, there are bottlenecks and we see this in the ism reports, in the manufacturing reports. there are bottlenecks and shortages starting to develop.

so i don't think this is a permanent issue but i do think we -- with manufacturing, and transportation and all the things that go into it, we are going to hit some hurdles along the way. david: talk about hurdles, we only have 30 seconds, but talk about what's happening inside the beltway. democrats have essentially stonewalled republicans on any kind of compromise. what happens if the president tries to pull the executive order lever? >> yeah. i'm not sure of the legalities of that, david, whether he can or cannot do that. but i just look at this from kind of 40,000 feet, if you will. you cannot just shut down the economy and then borrow money from future generations and pay everybody. the more -- i don't want to use government to put pressure on people, but what we're doing now is using government to take pressure off and then the last thing we need is to bail out states who have decided to keep shut down even though their numbers are good and they had

problems, massive problems, even before coronavirus hit. illinois, the pension problems in this state are awful. if they're looking for this bill to bail them out, i think that's a mistake and i don't think the republicans and the president should go for that. david: don't forget, there's still a trillion dollars that they have in their kitty they haven't spent yet. it's not like we're running out of money from coronavirus help. all right, got to leave it at that. great to see you. thank you very much. i like your optimism. the other big story, president trump signing an executive order that will soon ban the use of tiktok in the united states. shares of tencent is down about 6% on that news. susan li is here to fill in the details. susan: it took down global markets across the rest of the asia pacific and europe as well. tiktok has 45 days to find a buyer or it will likely be removed from apple and google's app stores, unable to get u.s. advertising or deal with any u.s. companies, and that's what

a ban would look like. microsoft said on sunday night they are looking to finalize a deal with tiktok by september 15th. tiktok issuing a statement saying they were shocked by the executive order and they say that it undermines global businesses' trust in the united states' commitment to the rule of law which served as a magnet for investment, spurred decades of american economic growth and sets a dangerous precedent, they say, for the concept of free expression and open markets. meantime, tencent, one of the world's largest companies, makes wechat which is the whatsapp facebook app of china, also accused of collecting data from americans and then sending it back to beijing. they are also facing a ban next month as well. wechat is a big, big deal for china, an app that nearly every person in china uses, and there are concerns that if you do ban wechat and tiktok, china could retaliate by limiting, say, apple or even microsoft and other american companies in china. david: let's bring it back home

and talk about apple. it's been on an absolute tear recently. five record closes in a row. how close are they to narrowing into that $2 trillion market cap? susan: $14 away. we are very very close. the stock needs to hit $467.76 to get past $2 trillion, doubling in two years, just crossing $1 trillion in the summer of 2018, something i covered as well. but u.s./china tensions on tiktok and wechat likely to drag on the stock today, since apple's business might be under threat if china retaliates for this executive order. now, apple rallied thursday about 3% on virtually no news. lots of wall street enthusiasm as we head into that four for one stock split at the end of next month, in august, and apple is now the most heavily weighted, most influential single stock on the s&p 500 in 40 years going back to 1980 and one of the big five tech names, amazon, microsoft, facebook and alphabet apple making up nearly

a quarter of the broader benchmark. david: let's bring in politics a little into this. facebook, they have banned another pro-trump organization. even though they said, zuckerberg said he wasn't going to do any fact checking, apparently changed his mind. susan: arbiter of truth. that's the term he used. this is temporary. they are banning ads from the committee to defend the president which is a super pac for president trump and facebook says it's for what they call repeatedly sharing fake news. the super pac fired back accusing facebook of allowing other politicians to make fake claims in their political ads. this news comes one day after facebook removed a post from the president's page for the first time for breaking its covid rules for misinformation and that claim on "fox & friends" that children were almost immune from the virus. more than a million people follow the committee to defend the president and they spent more than $300,000 on facebook ads over the past two years but facebook is notably stepping up its policing of politics and

politicians heading into the november vote. facebook also reportedly looking for an outright ban on any political ads heading into november 3rd. david: the suspension for this, by the way, will end november 1st. essentially eliminates any kind of advertising on facebook until just two days before the election. that's essentially saying they can't do it at all before the election. susan, thank you very much. let's get an update on the virus vaccine. check gilead. it is now up about a percentage point. makers of remdesivir. lauren, more good news from them, right? lauren: yeah. the theme here is sooner than you think. gilead says it can ready enough of their treatment remdesivir to meet demand by october and have two million courses ready by december. it increased supply 50-fold this year but look, this treatment is expensive. it costs $520 per vial and six vials are typically needed. also, this is very rare, they are getting some help from

pfizer to manufacture the treatment. that is a very rare drug manufacturing -- david: again, this is a therapeutic, not a vaccine. there's a lot of work on the vaccine as well. pfizer for one is saying they could have a vaccine ready by october, right? lauren: yeah. again, sooner than we thought. their vaccine is one of three that are in phase three trials right now. we do expect results this fall. potential fda approval immediately following that. we are talking about potentially getting a vaccine on the market one month before americans go to the polls. david: let's switch gears a little. thank you, lauren. to uber now. just reporting their earnings and susan, it's all about food delivery for them. they got into that business just in time for the pandemic. susan: yes. food delivery doubling over the past year. not enough to make up for the 73% drop in ride hailing. uber lost more money than expected in the quarter, telling me it's because they had to pay out over $380 million to

compensate for employee layoffs. uber laying off around 25% of their work force. meantime, uber is betting big on food delivery for the future. remember they bought postmates for over $2.5 billion last month. they tell me that deal won't close until next year. despite the lack of recovery in its may ride hailing business, uber sticking to its promise to finally make money next year, saying our continued confidence that we will achieve adjusted, this is adjusted ebita profitability outside of costs before the end of 2021. uber has never made any money in its 12 year history. david: wow. remember, amazon didn't make any money for almost a decade. things can change. susan, thank you very much. check the futures. they are now down about 92 points. they were slightly positive after the jobs report came in as a beat, gaining more jobs than were expected, but they have come down again. not as low as they were before the jobs number came out. we will keep a close tab on that. also check flir, f-l-i-r, a

world leader in making thermal imaging cameras to take your temperature from a distance at airports, places like that. shares are -- actually shares are up a little. they were down earlier. they had a very positive earnings report but immediately the market took a negative turn. looks like that's turning around right now. what's going on? the company's ceo is going to join me later in this hour to react to all this. larry kudlow, he is here on the latest jobs report. of course he's got a lot of news that he wants to share with you about details on that jobs report. also, we will be asking him about details on the president and whether or not he is going to sign an executive order lowering payroll taxes since congress clearly is not going to do it. and president trump also signing an executive order banning tiktok in 45 days. what does this mean for that app's potential deal with microsoft? senator kevin cramer met with the big tech giant and joins me coming next. ♪

look, this isn't my first rodeo and let me tell you something, i wouldn't be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. it's just a loan designed for older homeowners, and, it's helped over a million americans. a reverse mortgage loan isn't some kind of trick to take your home. it's a loan, like any other. big difference is how you pay it back. find out how reverse mortgages really work with aag's free, no-obligation reverse mortgage guide. eliminate monthly mortgage payments, pay bills, medical costs, and more. call now and get your free info kit.

other mortgages are paid each month, but with a reverse mortgage, you can pay whatever you can, when it works for you, or, you can wait, and pay it off in one lump sum when you leave your home. discover the option that's best for you. call today and find out more in aag's free, no-obligation reverse mortgage loan guide. access tax-free cash and stay in the home you love. you've probably been investing in your home for years... making monthly mortgage payments... doing the right thing... and it's become your family's heart and soul... well, that investment can give you tax-free cash just when you need it. learn how homeowners are strategically using a reverse mortgage loan to cover expenses, pay for healthcare, preserve your portfolio, and so much more. look, reverse mortgages aren't for everyone but i think i've been 'round long enough to know what's what. i'm proud to be part of aag, i trust 'em, i think you can too.

trust aag for the best reverse mortgage solutions. call now so you can... retire better so you can... simon pagenaud takes the lead at the indy 500! coming to the green flag, racing at daytona. they're off... in the kentucky derby. rory mcllroy is a two time champion at east lake. he scores! stanley cup champions! touchdown! only mahomes. the big events are back and xfinity is your home for the return of live sports.

david: president trump is putting pressure on tiktok by issuing an executive order to ban them if it's not sold within 45 days. what does that mean for microsoft's negotiations with the chinese based app? north dakota senator kevin cramer met with the big tech giant on thursday and joins us now. senator, i imagine that this executive order brings down the price a little bit, puts pressure on tiktok to sell at a cheaper price. microsoft, if they buy it, should american taxpayers get some kind of finder fees as the president was talking about?

>> well, thank you for the opportunity. i'm glad you asked that question first because this is an area where the president and i do not agree. i think that the finder's fee for the taxpayer are the taxes themselves, not just the income taxes of the company but the many income taxes of many employees. it's my understanding that microsoft could expect to add as many as 15,000 american jobs as a result of an acquisition like this, and who wouldn't love to have a legacy american company like microsoft who, by the way, has their second largest campus outside of redmond, washington in fargo. our interest here is more than just national security although that is the highest interest. i think it can work. david: before we leave tech, i want to focus on facebook's banning of this trump pac. it comes back to the idea of protecting these companies, these social platforms as they're called from section 230 that protects them from litigation.

they're just a platform that don't do any editing or censoring, fine, they should be protected from litigation. but if they are a publishing company that edits and censors and everything, then they are responsible for what's on their platform, and they should be exempt from this section 230, right? >> there's no question. i couldn't say it as eloquently as you just did. because that's exactly the point. you have to choose, do you want to be a utility or do you want to be a publisher, do you want to be an editor. if you are a censor, if you are engaging in censorship that puts you in a whole different category. you're right, the 230 protections relate not to somebody who is a publisher. david: yeah. all right. let's move over to the covid, the next edition of a covid bailout bill. you are against extending unemployment insurance benefits. have you talked to employers who say these benefits really do disincentivize workers from looking for work? >> let me give you a couple statistics from north dakota

first. north dakota's unemployment insurance benefit is already $529 a week. i don't have to tell you that $600 added to that adds up to more than $28 an hour to not work. i have heard more complaints about the unemployment insurance bonus of $600 than any other part of the cares act. in fact, all the other complaints added up don't add up to this one and it's not just from employers, by the way, which obviously they are having trouble getting their work force back when people can make more money staying home. by the way, throw on top of that what i believe is an exaggerated fear factor and you are going to have a hard time getting people to work. there are also people who are working, their neighbors are essential workers in grocery stores and medical facilities and on the front lines and they're not making as much working, required to work, as their neighbor who is not working. david: senator, i wish we had more time. just ten seconds. what's happening with those wonderful frackers in your state? how badly were they hit and are

they recovering now that oil is creeping back up in price? >> it's creeping back up in price. we need to get it a little higher. we need to continue to focus on -- they are showing some losses but there is a stabilization taking place. obviously there will be some consolidation which is probably necessary. but between the state of north dakota and the market action, what we need of course is the market back. we need that, you know, that demand back. by the way, remember, too, we're running up on the expiration now, into the expiration of the saudi opec plus deal. so we need to make sure we aren't going to participate in allowing the flooding of the market by some of our -- david: can't have negative future prices for oil like we did. that was a pretty wild moment. senator kevin cramer, great to see you. thank you very much. >> good to be with you. thank you. david: back to your money, let's get a check on zillow, the online real estate site. lauren, they just reported a massive quarter, right? lauren: housing is booming. the stock up 14%.

it will open at a record high for zillow. they said revenue grew 28% and they thanked favorable shifts in the housing market, the ceo crediting work from home. you can live anywhere. advancements in technology, think 3d home tours and affordability as three of the big reasons people are moving and will continue to move. zillow is even offering to buy people's homes directly. right now it has 440 in inventory across 24 markets. david: wow. lauren, thank you very much. there's nowhere to go but up for these urban households. check futures. we are below triple digits. that is, we are trading better than triple digit loss that we saw before the jobs numbers came up. it did pop into positive territory after a very favorable jobs number. that was good news. now the market is settling into negative but not a great loss. about .3% on the dow jones industrial average, down 83 points. the nasdaq is down about the

same amount, percentage wise. s&p a little more. opening bell is coming up. we have larry kudlow next to respond to the jobs numbers and a lot more. stay tuned. ♪ introducing stocks by the slice from fidelity. now you can trade stocks and etfs for any amount you choose instead of buying by the share. all with no commissions. stocks by the slice from fidelity. get your slice today. 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.

they get that no two people are alike and customize your car so, our responsibility is to make insurance so you only pay for what you need.

what do you think? i don't see it. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ david: futures are down and that has a lot to do with expectations of what's going to happen in washington, d.c. with regard to a new coronavirus bill. there was good news on the jobs front but mixed news on the international front. we're getting word now and susan li can certainly -- is qualified to talk about this -- possible u.s. sanctions against carrie lam. she is the administrator for hong kong. lot of people say she's just a puppet of beijing. susan, what's the detail? susan: that's right. she's the de facto mayor of hong kong and the trump administration of course, bloomberg reporting is going to sanction hong kong chief executive carrie lam along with other chinese and hong kong officials after the

implementation of the national security law. this goes back to the act signed or passed by both houses of congress and signed into law by president trump and they promised they would sanction and limit individuals that were responsible for implementing this national security law which is seen as an infringement of that 1997 handover from the uk back to china because we know hong kong was promised autonomy for 50 years, we are around 27 years into that agreement and the national security law basically allows beijing to rewrite security laws. they can send individuals from hong kong back to china to be sentenced or to face trial and people see this as a major encroachment of hong kong's freedoms. also, this adds to -- wouldn't you say the tenseness in the markets, given u.s./china relations after the executive order on wechat and tiktok last night and now again, implementing these sanctions on the hong kong chief executive? david: we haven't talked about the de-listing of chinese companies, the possible de-listing by 2022 which was just announced if they don't

come forward with better accounting rules, right? susan: yep. that's right. that was announced as well. these are pretty strict implementations of these s.e.c. accounting laws. there are huge companies, as you know, one of the biggest if not the biggest of what's here in new york, alibaba. david: what you hear are the opening bells for the stock market. trading has begun. we saw the market jump around in various directions before the jobs report came out. of course, it was a positive jobs report. we added 1.76 million jobs in the month of july. that of course was a lot less than june where we added 4.8 million but it was much better than expectations. the unemployment rate also came down to 10.2% which is still extraordinarily high for the united states. however, we were expecting it to come down to only 10.5%. so it was a beat on the unemployment number, a beat on the number of jobs created. that turned the market around. it had been triple digit down. it went green after the jobs

report but as you can see, it is now trading triple digit down as well. that may be due to some of the international events i was talking to susan li about. but there's a man who can answer some of that. he is larry kudlow. he joins us now from the grounds of the white house. he's economic adviser to president donald trump. larry, first of all, just general question, what do you think of that jobs number? >> i think it was a very important, very positive number, david. it really tells us a whole bunch of things. number one, the job recovery continues. bear in mind that this was in july, the week of july 12th to 18th. that was smack in the middle of the spiking hot spots in the southwest and a few other places. so the diminution or the worries that some partial shutdowns or some pausing shutdowns would

wreck the job numbers did not pan out. i think that's a great sign of strength. getting unemployment down to 10.2% puts lie to the idea we will have double digit unemployment in the fall, around election time. you are going to see single digit unemployment rates. we may not get back, we are not going to get back to where we were at the peak in february, i grant you that, but the idea we are going to get down to, you know, below 10%, 9%, 8%, i don't want to go too far but that's a big change in attitude. let me add a third point that's very very important. this is a self-sustaining recovery. why do i say that? away from the jobs numbers, you had a crash of inventories, all right, so what's going on in the economy, car sales, david, are booming, retail spending overall is booming, okay. but companies are going to have

to produce new inventories to restock the shelves all across america and that is a huge boost to the economy in the third and fourth quarters -- david: larry -- >> this is self-sustaining recovery and the job numbers are stronger than anyone thought possible and we're climbing our way back from the awful pandemic -- david: it was a great beat of the estimates and i don't mean to rain on the parade but there were a couple issues i want to talk about. first, there are still millions of americans unemployed. the federal bonus of $600 a week in unemployment benefits expired and it looks like democrats have no interest in extending it. will the president extend that on his own? maybe not at the $600 but at some other mark? >> well, the president is looking very very carefully, i have been engaged in this with others about using executive authority to take up the slack. if the democrats, the other

side, doesn't want to make a deal, and really don't seem to be making much progress, maybe the tone was better a few days ago, but nothing but disappointment, so the president is looking for a payroll tax cut. he's looking for administrative action to keep the eviction moratorium in place. he's also looking at executive authority to reform unemployment to provide a benefit for reemployment, a retention credit for employers, and a benefit for reemployment for the work force. those are essential items on his list. we want to keep the momentum going here in the economy. as you noted, there's still hardship and heartbreak out there. the great news is the v-shaped recovery is springing back. but -- david: let me just ask about this -- >> we have more work to do. let me just finish the thought. he is intent on using all of the federal power levers at his disposal and if we have to do

executive orders, he will do them. i can tell you, yesterday and last evening, when i left, i'm working with the counsel's office on a payroll tax cut. the draft is basically completed. david: we will talk about that, but the issue of the unemployment bonus, of course, a lot of people say it's a disincentive for people to go out and look for work. i think there's a lot to that. however, there are people who are counting on it. how soon can you give them any idea of how soon they will have to wait? >> well, i can't, because of the stalled negotiations. we want to get stuff done right away. you've got difficulties, of course, in the low end on the unemployment side. they may not be able to get jobs. one of the things here is the temporary layoffs and furloughs, those folks are coming back to work in large size. that was from the payroll protection program and other parts of the first cares bill in march. that's a great part of the

story. there are other parts of the story, though, that are not as good and we would like to put out some additional extensions of temporary assistance to help those folks. if the president has to use his executive authority, you can bet he will use it just as he has in the past. david: will he use it for a payroll tax cut? >> i believe he will. as i said, the legal drafting is complete. we've had intense discussions about this in the last several days. i don't want to make a prediction. it's up to him to inform the public. if he's satisfied with what the work's been done. but we are hard into it and other areas. we may be able to repurpose funds that were not -- they were obligated but not spent last march. there's a whole variety of issues and federal powers that are at the president's disposal and he will use them. you can bet on it. david: let's talk about spending, if you can. there are trillions of dollars spent already on covid relief. the democrats want to spend

trillion more than republicans do. we still have over $1 trillion waiting to be spent in the coffers and actually, judy woodruff, she's not a big trump fan. on the other hand, she pushed nancy pelosi on this and nancy pelosi said you're a republican sympathizer for suggesting that there's money left over. but there is, is it not true that there's over $1 trillion that has yet to be spent? >> well, i can't give you the exact number but i think you're in the right ballpark. judy woodruff and her husband al hunt are very dear friends of mine. i was on judy woodruff's pbs news hour last evening talking about this very subject. the questions here are part legal and part fiscal. whether the legal counsel and the office of management and budget can see their way to repurposing some of the monies that weren't spent, or else just to add them on to various relief and assistance programs that we're all looking at. yes, that gives us a lot of

resources to work with. i just can't say this enough. people should not believe the president is bluffing on using his executive authority. he is not bluffing. and since we can't seem to get a deal done with the other team right now, he will take his executive authority to the fullest. david: he's not bluffing on tiktok either. coming out with a deadline for them to sell to presumably microsoft if somebody else doesn't come up with the money. there's also of course the new rule that chinese companies have to adhere to our accounting standards, otherwise they will be de-listed by 2022. is all this sort of a payback for what they did with the coronavirus? >> well, actually, no, in specific terms, we are very unhappy with how china behaved during the coronavirus but that's kind of a separate set. we have been working on investor protection for quite some time. national security adviser robert

o'brien, a dear friend, he's a really smart guy, he and i have worked together. we stopped the thrift savings plan from investing in chinese securities. we are trying to urge the railroad retirement funds to do likewise. the bigger picture here is that the public company accountability board is not happy for years with china's lack of disclosure and transparency, and as you said, we're going to give them a year. they have to have audits that are confirmed by the public accounting board and signed off by the s.e.c. not only just the audits, david asman, but also the work papers behind the audits. if that is not done adequately by companies that are public now or may wish to go public in the future, then it will not pass muster. they have to meet american standards. what we are doing here is u.s.

investor protection as well as national security items. i would take that one very seriously. david: lot of people think it's about time, frankly. we have been talking about this for years. larry kudlow, what a pleasure to see you. my best to everybody there, particularly to your wife. >> thank you, buddy. david: thank you very much. the president and ceo of flir joining me next for a fox business exclusive interview. the company which makes cameras that check your body temperature just reported a blowout quarter but the stock took a hit shortly after. what's going on? keep it here. we will tell you the details coming up. ♪ find your keys.

find your get-up-and-go. find 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. 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. 1 in 5 people you meet wear yeah. that many! but right now, is not the time to talk about it. so when you're ready, search 'my denture care'. poligrip and polident. fixed. fresh. and just between us.

david: take another check on the numbers. the dow overall is down about 100 points right now, with just a tick more than 100. all the indices are down but not terribly so.

again, they traded in positive territory as futures right after the positive jobs numbers came out. there are winners today. let's look at several of them. home depot, lowe's and walmart, i picked those out because they are kind of home-oriented stocks. home-oriented non-tech stocks. home depot, lowe's, walmart, you will see a number of those basic non-tech stocks that are actually doing pretty well. about the only tech stock that i can see that is doing well is again, facebook on that upward trend after they presumably pleased the advertisers, remember they had that boycott because they wouldn't do fact checking on the president's websites but they just announced yesterday that in fact, they would pull at least one trump pac off of their advertising because of comments that they said were incorrect. lot of dispute on that. to a fox business exclusive now. flir, you may not know the name but they are the company that makes thermal imaging cameras,

some of which are helping businesses test workers' temperature to get those workers back to work for the virus, just reported a blowout quarter. the company did. come in, james cannon, flir president and ceo. james, thank you for being here. your stock, despite beating the estimates, took a hit right after the report. it's down slightly now. why didn't you get a better result from the stock market to those earnings? >> well, it did surprise us. we had a sound second quarter with record backlog, record operating margins and while demand for our elevated skin temperature cameras continued, only about $20 million of that backlog is associated to that. i think there were really high expectations for what demand could be for these cameras after seeing almost $100 million in bookings in the last five weeks of the first quarter. that slowed to about $70 million

of bookings in the second quarter. but the profile of the customer, large enterprise customers looking for long term solutions to help protect their work force and customers is very promising to us. david: i'm wondering, do you think there is a concern among investors about a return to lockdowns in some states or at least cities that, in fact, the wide range use of returning to work and the use of your cameras for that might be put on hold for a bit? >> yeah, i think there's certainly a lot of uncertainty and we've seen the demand curves change dramatically. for 17 years, we've been producing technologies that can screen for elevated skin temperatures that could mean you have a fever. it doesn't diagnose, certainly, that you could have covid-19 but it's a great tool. but the demand curve we see now is unlike anything we've seen in the past. it would happen quickly and then evaporate quickly but now,

whether to begin with during the lockdown, it would be all sorts of customers from retail to manufacturing, et cetera. we see now customers looking at longer term solutions, commercial real estate, manufacturing and essential industries. david: there's another problem which is that we found this virus is so new and so strange in the way it operates that a lot of people could be asymptomatic and transfer it to other co-workers even if they don't show up as having a temperature. >> that's absolutely right. we've been very clear because over 17 years of working with this technology, we've learned a lot. this is one tool but it needs to be integrated with an overall plan, as you state, you could not have a fever or show those symptoms and perhaps be spreading and also to be clear, this technology's very effective at measuring large groups of

people coming into venues but just because you have an elevated skin temperature does not necessarily mean you have covid-19. so it must be integrated with wider practices. david: also, finally, competition. there are other firms that do thermal imaging. how much of a push are they giving you? >> well, right now, i think the demand has been so strong, we've not seen a lot of share being taken one way or the other. at flir, we have been doing this for 17 years and we're a market leader with infrared technology so competition makes us better. david: i got to ask you, we only have ten seconds, where does the name flir come from? >> it stands for forward looking infrared. indeed, our name is infrared. david: very good. james, we wish you the very best. congratulations on those good numbers. >> thank you. david: appreciate you coming in. well, we have been witnessing violent protests all over the

nation and now one trucking company says they won't go to cities that want to defund or disrespect the police. but will that hurt their bottom line? they join me in the 11:00 hour to explain. and democrat socialist bernie sanders is attacking the rich again with a new make billionaires pay act. what's actually in it? will it affect more than billionaires? know how they start at a billion and come down to your level? it's not good news for big tech ceos. ♪ dolph lundgren, you've got a one-sixty i.q., a master's in chemical engineering and you're technically a genius... and it appears you're quite the investor. i like to trade. well, td ameritrade has pros ready if you need help, say talking through a new strategy...

... just in case things, you know, get a little rocky? i'm sorry on the upside i think that's waterproof. maybe not... ♪

where you can find games, news and highlights. all in one place, right on your tv. the xfinity sports zone. use your voice to search every stat and score. follow the teams you love. and, even get notifications with breaking news alerts and more. with the xfinity sports zone everybody wins. now that's simple, easy, awesome. say xfinity sports zone into your voice remote today.

david: amc, remember them, the movie theater chain? well, they just reported their second quarter earnings. lauren, we knew it was going to be bad. give us some numbers. lauren: i can't sugar coat this one, david. cinemas are closed and yes, amc's revenue plunged 98.7%. $19 million in the quarter. yeah, but look at this. the stock's up about 2%. look, the ceo said this quarter was the most challenging in our hundred year history but there's a bright spot.

almost all overseas theaters will open this month, including about two-thirds right here in the u.s., and then we always talk about pandemic changes. well, there's one that's affecting this industry. it's video on demand. amc says it expects more studios will release films digitally just 17 days after they have played in theaters and that parallels the deal that amc struck with comcast universal. so this is a change that amc expects to remain and they will take a cut out of that digital revenue. david: 98% cut in revenue. wow. lauren: i know. david: amazing. lauren: it's like the cruise industry. they're not sailing, you can't go to the movies so where's the revenue coming from? david: those are the times, folks. thanks, lauren. what about papa john's? they just reported as well as another pandemic winner. susan, they are going on a hiring spree? susan: already hiring 20,000 but they need another 10,000 so think 30,000 new jobs in total at papa john's as pizza delivery is booming. may was the best month in the company's history.

sales are up over 33% as people stayed home, they ordered pizza and that record streak continued with july sales already up 31% so far. 70% of these orders were being done online and over the past three months, we have papa john's adding three million new customers, also nba legend shaquille o'neal sits on papa john's board which i didn't know. david: shaq never hurts. never hurts. absolutely. thanks, susan. by the way, happy friday to you. it is friday, and that means a special friday feedback edition with the ladies of "varney" joining us in the 11:00 hour for that. coming up, jonathan hoenig is here. you might remember his picks have made a lot of investors a lot of money. he also says the markets are proving doubters wrong. and tammy bruce on joe biden's latest blunder. the second hour of "varney & company" is next. ♪ introducing stocks by the slice from fidelity. now you can trade stocks and etfs

for any amount you choose instead of buying by the share. all with no commissions. stocks by the slice from fidelity. get your slice today. it was 1961 when nellie young lost her devoted husband. without him, things were tough. her last option was to sell her home, but... her home meant everything to her. her husband had been a high school football coach and it turned out, one of his former players came up with an answer. a loan, created just for older homeowners. and pretty soon, nellie young had one of the first reverse mortgages. discover if a reverse mortgage loan is right for you.

use it to eliminate monthly mortgage payments and increase cashflow, create an emergency fund, preserve retirement savings and more. call now for your free information kit. that first reverse mortgage loan meant nellie could stay in the home she loved so much, with memories that meant even more. a reverse mortgage loan isn't some kind of trick to take your home. it's a loan... and it's tax-free cash just when you need it. it's about making your retirement better. call today and find out more in aag's free, no-obligation reverse mortgage loan guide. access tax-free cash and stay in the home you love. of course, you can use it to pay some bills, cover medical costs, update or repair your home. but best of all, it eliminates those monthly mortgage payments so you get more cash in your pocket, every month. learn how you can use a reverse mortgage loan to cover your expenses, pay for healthcare,

preserve retirement savings, and so much more. a lots changed since 1961... since then over a million older americans 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

david: hi, everybody, i'm in david asman in for stuart this morning. let's get you started with the market here. the dow is down about 90 points, been that way for at least the past 30 minutes. the market was down triple digits before the jobs number came out, but 1.8 million jobs added in july. the unemployment rate ticking down to 10.2%. both of those were beats on estimates, and larry kudlow telling us in the last hour that the unemployment rate will

continue to trend lower. listen. >> you're going to see single-digit unemployment rates. we may not get back -- we're not going to get back to where we were at the peak in february, i grant you that. but the idea that we're going to get down to, you know, below 10, 9, 8, i don't want to go too far, but that's a big change in attitude. david: and some industries adding more jobs than others. lauren, which sectors had the most gains? lauren: yeah, to kudlow was optimistic on this path to recovery and optimistic about where the jobs are being ad. one-third of the job gains came from leisure and hospitality as that sector came roaring back. the spike in infections, particularly in the southwest part of the country, did not affect this sector as of the report which went through mid july. and as kudlow expects, manufacturing will continue to be strong in the future as companies work to restock their

shelves. so leisure and hospitality, retail, government all strong, manufacturing not strong in july, kudlow says it will be in the future. david: yeah. it was about 200,000 less than the estimates, manufacturing was. that's the only dark cloud there. lauren, thank you very much. let's get an update on tiktok. president trump signing an executive order effectively banning the sale of it in 45 days. here's what larry kudlow said about it last hour. listen. >> they have to meet american standards. what we're doing here is u.s. investor protection as well as national security. so i would take that one very seriously. david: susan is, how is tiktok responding to this order? >> well, first of all, said they were shocked by the executive order last night warning that it could ruin the trust that international companies place on the u.s. financial system. and it also might reduce investment flows from outside the u.s.. now, president trump has said that all along tiktok has to

find a buyer by december 15th or they would be banned. microsoft still the likely suiter here, also saying they wanted to finalize a deal by the middle of next months. reports suggest they are still hammering out the details with price still in question. we have heard requests the price might be as low as $10 billion, as high as $50 billion, and does microsoft want the whole thing, or do they just want tiktok in the u.s., canada, australia and new zealand a. meantime, ten cents makes the whatsapp, facebook for americans to send back to beijing banned next month as well in that executive order. we chat is a big, big deal for china, that app is dominant because nearly every person in china uses it x there are concerns china could retaliate by limiting apple or microsoft or other american companies operating in china, david. david: i would never use that

the, would you? >> i actually do use we chat. i haven't used it for the past year because i've been locked out of it, i forgot my password, but it does everything in china, and 1.2 billion people use it. david: it's true. i don't want them having my information. let's bring in jonathan hoenig. jonathan, i want to talk about gold first. it was just a week ago, i think, that you and i were talking on air when gold hit $1900 an ounce, and i said isn't it way overbought? time maybe to pull back, you said, no, keep going, it has room to move. you were 100% right. for those listening who followed your advice, they've made money. it is down today about $11 an ounce. is there still room to go in, and is now i the time to do it? >> there is still room, david. and, look, the builds take time. -- the bids take time. we've been talking about gold as an opportunity for earnings for a year now. we look back historically, gold

has been in a bull market if 2001 to about 2012. [audio difficulty] we're just getting started. interestingly, often times, david, people say it's at an all-time high, sometimes it's the best indicator that it's not the high, it's just a high. i think that it's what you're seeing here with gold. probably room to run with all hard assets -- [audio difficulty] and there's some fundamental justification here, david. we're seeing the value of the -- david: i've got to stop you, jonathan, because you're stuttering. you're not a stutterer, but it does sound as that we're having some difficulties with your audio. we're going the try to fix that, get back to the market which is trading down about 112 points right now. here is apple. record high, a record high for them, moving ever closer to that $2 trillion heart attack. it's trading down -- $2 trillion

mark. it's trading down, but it was up earlier, and it could go up. they need to reach just under $468 a share to clear that $2 trillion market cap number. and check uber, just reporting their second quarter earnings. they are down as well. no surprise the ride-hailing business took quite a hit, but they did have a winner within the company, food delivery for obvious reasons. revenue for uber eats more than doubled in the quarter. the stock is now trading down about 5.5%. let's talk about true car which is on a tear today. susan, tell us why. >> well, that's because they had better earnings for the online used car trader, fourfold increase from last year. also selling its alg unit to j.d. power for over $100 million. online's doing very well for them with a pick-up in visitor traffic, buying back stock the at $75 million, and we know there's within a lot of --

there's been a lot of trade thing when it comes to used cars especially in these covid types when you can get a better deal. david: absolutely. then there is stamps.com surging today. lauren, the e-commerce boom helping them, right? lauren: helping the company grow their sales 49% in the quarter from last year. also raised their full-year forecast, and the stock up 14%. shares are up 214% this year, so can this rally continue? and most analysts will say, absolutely, especially if the business-to-business volume which is more profitable remains strong. so stamps.com, pandemic winner. david: okay. lauren are, thank you very much. we were going to go back to jonathan hoenig, but we're still having some sound issues, so we'll try to get him later in the show. meanwhile, facebook banning another trump super pac from advertising on its platform. is this going to hurt the campaign?

bernie sanders has a new plan to tax the rich. he is going after tech titans for the billions they have made during the pandemic. we've got details on his new plan. and remember when joe biden had to apologize for making this comment? roll tape. >> a long way until november. we got more questions. >> you got more questions. i can't wait. if you have a problem figuring out whether you're for me or trump, then you ain't black. david: oh, boy. well, ladies and gentlemen, he's done it again. whoops, he did it again. now biden is apologizing for another gaffe where he compared african-american and latino communities and, well, we'll just play the tape and get your action to it. you'll hear that right after this. ♪ ♪

i had saved up some money and then found the home of my dreams. but my home of my dreams needed some work sofi was the first lender that even offered a personal loan. i didn't even know that was an option. the personal loan let us renovate our single family house into a multi-unit home. and i get to live in this beautiful house with this beautiful kitchen and it's all thanks to sofi. and i get to live in this beautiful house ♪ (announcer) reliability is everything. so, if your network's down, you're down. verizon knows your customers need to reach you seamlessly. your team needs to work from different places across many devices. plus, you want the security trusted by some of the largest companies in the world. and that's why you trust us. the most reliable network in america.

puts its customers a wiin charge?rier well, the good news gets shared. and it gets rated #1 for customer satisfaction. but don't just take our word for it. take theirs. it's your wireless. your rules. only with xfinity mobile. call, click or visit a store today.

>> unlike the african-american community with notable exceptions, the latino community is an incredibly diverse community with incredibly different attitudes about different things. you go to florida, and you'll find a very different attitude about immigration in certain places than you do when your in arizona. david: presidential candidate joe biden once again raising eyebrows with his remarks on race. once the criticism came in, biden tried quickly to walk it back tweeting out, quote: earlier today i made some comments about diversity in the african-american and latino communities that i want to clarify. in no way did i mean to suggest that the african-american community is monolith. not by identity, not on issues, not at all, end quote.

but this is far from the first time biden's made offensive remarks like this. come in fox news contributor tammy bruce. so is, tammy, it's just too late, is it not? we've seen examples of this before. with saw the interview he did with the deejay or the hip-hop guy in which he said -- >> carl main, yeah. david: -- if you don't vote for me, you ain't black. there's a repetition here, is there not? >> right. and i think that's important because, look, everyone -- especially if you're in a business with, either in media or that politics where you're talking all the time -- that remarks can be taken out of context, misconstrued, badly put, etc. but with joe biden, it's not just recently that there's an issue. david: right. >> it's decades. it's remarks that will be moved through whether it's, again, as a senator saying he didn't want his children to grow up in a racial jungle, and the two you're remarking on now are actually link ared, right in the

remarks, the most recent ones were, of course, implying if not directly stating that all black people think the same or that people based on their complexion should be expected to behave in a subpoena way that's singular or to think a certain way, etc. and yet with the charlemagne the god interview where he said you ain't black if you don't vote for me, it's the exact same comment. that's a comment that, in fact, if you're a black person, then you would vote for him. and if you don't, if you're not conforming in that way, well, you're not black. it's virtually an identical remark. and often it's, there's the complaint that it's because of some cognitive decline. i would argue that you might have a cognitive the decline issue with individuals, but it doesn't compel you to make these kinds of remarks. it might not allow you to edit as you normally would, and i think that that's a what his issue is which is making him a -- [inaudible conversations]

dave david bottom line is it's an insult that i don't think a correction going to fix, i just don't. i want to move on to democrats' attack -- >> you are correct. david: -- on the national rifle association because it's extraordinary that it comes on the heels, and this is not just being done in new york, there are other stateses that are following suit. it comes on the heels of their attacks or their calls for withdrawal of funds from police. so just when we're in the midst of this horrendous crime wave throughout the united states and all the major cities, at least those run by democrats, they want to get rid of cops and guns to defend yourself. does that make any political sense? >> no. you can ask anyone from portland to seattle, to new york on whether or not that's reasonable. recent polls indicate over 80% of americans including, certainly, african-americans, people in the inner city want not only the same amount of police officers, but more in

many cases. and certainly better trained. but, of course, this is the attorney general in new york who also called the national rifle association a terrorist group. so her agenda has been clear. she campaigned on getting rid are of the nra. so this is clear. but there is a mistake being made in thinking that the nra is the representation of gun owners. it is a membership organization that reflects the intentions of millions of americans. so whether -- and i would expect the nra to continue to exist and to fight this. but they're making, they're exposing their lack of understanding of the american people. the nra isn't their problem. american independence is their problem. david: right. >> the second amendment that allows us to fight back against and to be independent from an overreaching government their problem. so they're once again, i think, making a major mistake. david: and if you live in manhattan or any major city in

the united states right now, you need to defend yourself because you can't rely on the police. so many of them have been disrespected and defunded and are just afraid of making any move that'll be caught on camera that might end them up in jail, which is a real possibility. i just don't see the political sense of it right now. tammy, we've got to leave it at that. great to see you. tammy bruce, appreciate you coming in. >> same here, david. david: we are down triple digits but, again, hovering from 90 points down to about 106 points down, which is where it is right now. and the nasdaq and the s&p are doing, percentage wise, a little better than the dow. and take a look at some of the vaccine makers starting with gilead. they say they're going to be able to make enough of their rem december e veer -- of course, that's not a vaccine, that is a treatment, a therapeutic -- they're going to have enough to meet global demand in october. and here is pfizer, if we can take a look at that, put that up on the screen. their ceo says it could have a vaccine ready to distribute by

october. that stock is up a percentage, small percentage, about .18%. >> we already have manufacturing, started manufacturing so that we will have available quantities that will be readily available. so from my perspective october, it is a timeline that there is high likelihood that we will know e if it works, and we will have enough product to start distribution. david: well, the white house also says a vaccine is possible by the end of the year, so that is good news. we just saw the pfizer chief executive talking about the positive news there. bernie sanders going after the wealthy again. he wants to take back the money they made during the pandemic. lauren, who's he targeting? lauren: he's not being subtle, he's calling this legislation the make billionaires pay act,

and it would take billions from the executives of our biggest, most popular companies. he's imposing a 60% tax on what they gained between march 18th and january 1st of 2021, meaning the wealth they amass will face a one-time tax, proceeds will be used to pay for americans' health care bill for one year. so for amazon jeff bezos', $42.8 million. for tesla's elon musk, that task would be $27.5 billion. and let's take a look at mark zuckerberg of facebook, $22.8 billion. and finally, you like wal-mart? you go there for good prices? well, the walton family, $12.9 billion. so these numbers are outrageous. and what's shocking is it just includes through august 5th. the sanders plan wants to tax them through the end of the year. it's a tax on their success, 467 billionaires would be hit by it.

david: the bottom line is nobody's going to shed any tears about these guys losing extra billions, but it doesn't work. wealth taxes have been tried all over the world,s and in the overwhelming cases the countries that started wealth taxes withdrew them because people can move capital. people are not -- these billionaires didn't get rich bying being dumb. they're smart, they know how to move their capital out of the country that's overtaxing them, and that's exactly what would happen here. lauren: and it makes the assumption that they're not generous enough as it is, that they don't pour their money and their time into their companies and their workers and to charity e in general. david: well, and, again, nobody's going the lose any sleep worrying about a billionaire if they have a couple of billion less, but the bottom line is it just count -- just doesn't work. all right, lauren, thank you very much. i've got to move on. susan, trip adviser seeing a massive plunge in second quarter revenue but not all bad, right in super: not all bad because

they are forecasting some improvements, from march to june, worse than attempted. but trip advisor says that revenue will improve in the third quarter. for the second quarter, they're still meaningfully, they say, lower than the year ago. consumer travel might be coming back, trends have shown gradual improvements at the end of april, but they also had to lay off around 25% of their staff, and we have heard from the u.s. travel industry warning of losses of close to a trillion dollars this year owing to covid, and that's seven times 9/11. david: all right. and let's take a look at booking holdings. big travel company, they own sites like priceline, booking.com, kayak with. even though total bookings on the sites are down 91% from last year -- again, these huge numbers -- they did see a boost from that state department announcement lifting travel restrictions on on recovered countries. the stock right now is up about

1.75% of a percent. and here is online zillow e revenue growing 28% in the last year thanks to an upbeat housing market. that stock is up almost 8%. -- 18%. and let's take a look at this number, deal for apartments in manhattan plunging 57% in july over last year. susan, i can't tell you how many people i know are moving to the suburbs from manhattan. half of my apartment building. >> yeah, makes sense because sales contracts more than doubled, say, in the hamptons, westchester and connecticut. connecticut is hot. so anything within a two hour radius of the city is as busy as ever, and fear of density during covid, also being way too close to people have individuals thinking they can buy a house elsewhere. are you going to get a good deal? i wouldn't hold my breath because it depends on whether you're looking at the high end or maybe the lower end, because the high end of the market is

getting hit hardest. co-ops are down over or 75%. that's right. and one brand new, high-end condo complex in lower manhattan also offers 50% discounts on their most expensive condos. not so much for the middle and lower tiers according to the real estate agents. that might change though as the number of unsold apartments is now at the highest level in almost a decade. mortgage rates below 3%, so you can get a good deal. might be a good time to buy. david: i don't know -- [laughter] this downward turn could last for a decade. >> yeah. but as you know, opportunity in crisis. david: that's true, and manhattan is an island. there's only so much you can build, so eventually it'll be up again, but that might be a long time from now. susan, thank you. big tech, as you know, has had an extraordinary couple of months. but coming up, we have a market watcher who says it is time to get out of big tech. he'll join us to tell us why. meanwhile, truckers, they are some of the many workers on the

front line during this pandemic. we love our truckers. but one trucking company is now saying it will stop making deliveries to cities pushing to defund and disrespect the police. we've got him on our show in the next hour. stay tuned. ♪ ♪ introducing stocks by the slice from fidelity. now you can trade stocks and etfs for any amount you choose instead of buying by the share. all with no commissions. stocks by the slice from fidelity. get your slice today. to listen, is to hear more than what's being said... and offer the answers that make someone feel truly heard.

i understand, let's get started call a dell technologies advisor today. but what if you could stdo better than that?k. i understand, let's get started like adapt. discover. deliver. in new ways. to new customers. what if you could come back stronger? faster. better. at comcast business, we want to help you not just bounce back. but bounce forward. that's why we're helping you stay ahead and adapt with a network you can count on, 24/7 support and flexible solutions that work wherever you are. call or go online today. look, this isn't my first rodeo and let me tell you something, i wouldn't be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. it's just a loan designed for older homeowners, and, it's helped over a million americans.

a reverse mortgage loan isn't some kind of trick to take your home. it's a loan, like any other. big difference is how you pay it back. find out how reverse mortgages really work with aag's free, no-obligation reverse mortgage guide. eliminate monthly mortgage payments, pay bills, medical costs, and more. call now and get your free info kit. other mortgages are paid each month, but with a reverse mortgage, you can pay whatever you can, when it works for you, or, you can wait, and pay it off in one lump sum when you leave your home. discover the option that's best for you. call today and find out more in aag's free, no-obligation reverse mortgage loan guide. access tax-free cash and stay in the home you love. you've probably been investing in your home for years... making monthly mortgage payments... doing the right thing... and it's become your family's heart and soul...

well, that investment can give you tax-free cash just when you need it. learn how homeowners are strategically using a reverse mortgage loan to cover expenses, pay for healthcare, preserve your portfolio, and so much more. look, reverse mortgages aren't for everyone but i think i've been 'round long enough to know what's what. i'm proud to be part of aag, i trust 'em, i think you can too. trust aag for the best reverse mortgage solutions. call now so you can... retire better

♪ ♪ david: david markets are still trading down, in fact, accelerated losses just a little butt. the dow is down 126 right now. nasdaq and s&p not down as much percentage wise. and check fle e er, they, of course, make those thermal cameras that can check your temperature. we just had their ceo on the show in the last hour, and here's what he had to say about the virus. listen. >> for 17 years we've been producing technologies that can screen for elevated skin temperatures that could mean you have a fever. the demand curve we see now is up like anything -- unlike anything we've seen in the past. it would happen quickly and evaporate quickly, but now whether to begin with during the lockdown it would be all sorts

of customers from retail to manufacturing, etc., we see now customers looking at longer-term solutions. david: and next one, stuart and the company have been very bullish on big tech on this show, and there's no denying the historic surge in that sector. let's bring in founder and chairman of an nondale capital, george -- [inaudible] good to see you. george, you say it is -- >> good to be here. david: that looks a little better with. you say it's time to get out of tech and put your money elsewhere. why? >> yeah, i don't think it's time to get out, i think it's time to take about a third of the position you might have in technology stocks whether it's apple or microsoft or tesla or zoom or any of these other companies that you've made huge returns on this year and put them into value stocks, something that is severely underpriced and has a lot more potential to run in the future. technology stocks are priced beyond, it's time to rebalance.

david: so you wouldn't sell it all, you'd just rebalance it, take off about a third off the top. and what would you do with that cash? >> it's never a good idea to get completely in or out of a trade. it's too extreme. to that cash, i would put into value stocks. i would be in berkshire hathaway, in upstream and midstream natural gas stocks. natural gas is starting to come back, and that's a trade that has legs and might go on for quite some time to come and have significant upside. you've got midstream national gas that trade basically around nine to ten times earnings. and the upside potential senate. so it's a good time to just rebalance your portfolio and right-size it and trim the stuff that's done exceptally well and get into some -- exceptionally well. david: george, let me just ask

you about the economy overall. you saw the jobs numbers today. they were better than expectations, not spectacularly better, but significantly. when do you think this economy's going to get back to what of a normal sphere? >> i think we're in trouble, david, to be honest. i think that we've got a long, hard slog ahead of ourselves, and i think we ought to grit our teeth and as they used to say in the old days before we got more balanced about genders, man up to what's coming because it's going to be a really, really hard period of time for our country. i think we need to get some resolve and resilience in terms of dealing with this for some time to come. you're not going to see restaurants or airline or hotels or industries like that come back anytime soon. technology stocks have done super well, technology companies are doing super well, but we need to strap it on and buckle up for a long, hard run. we'll probably have a vaccine middle of next year, something like that, but to get herd

immune few e and move on from this horrible pandemicking it's going the take time. it's not going to be a quick process, unfortunately. david: and then we have an election we didn't talk about. what happens -- [laughter] if, in fact, we see a change of government going from republican to democrat? >> i don't think it's going to be as bad if we have a change in government as a lot of doomsayers predict. i don't think joe biden will accept policies that are so extreme that they keep us in recession or even worse depression for an extended period of time. i think we'll weather joe biden. i think we'll weather president trump if he stays in office. his policies are very pro-growth, pro-business, but there's a lot of volatility which creates turmoil for the markets and things of this sort. the country's a big place. it's a vibrant place. we're resilient, we'll get through this no matter who gets elected. david: george seay, thank you

very much for being here. ing. >> thanks, david. david: well, the administration sanctioning chinese and hong kong officials. susan, we broke it here about an hour ago. what are the details? >> looks hike the mayor of hong kong, carrie lamb, among those being directly sanked under the hong kong freedom act. so it's going to limit and punish those that were responsible for enacting that national security law in hong kong which goes against the freedoms that were promised under the handover in 1997 from british rule to chinese rule. not only carrie lamb, but i'm looking at a matter of her cabinet, the commissioner of the hong kong police force, the hong kong secretary for security, and the u.s. treasury says lamb is directly responsible for implementing beijing's policies of suppression of freedom and democratic processes as outlined in these sanctions. so, you know, this was promised already, we knew this was going the happen, and the national security law, by the way, not only does it allow for beijing's military to now police the

streets of hong kong, but they can the also enact security laws without hong kong's influence and also extradite some people to and those who face trial on the mainland as well. david: susan, put this in perspective. we now have the hong kong sanctions, we have the news about chinese company listed here that may be delisted in 2022 if they don't come clean on their auditing, and then we have the tiktok issue. it looks like the united states is really taking the gloves off with china. >> well, things are obviously very tense between the two largest economies in the world, and that's why you're seeing a drag on the stocks in this friday session despite the fact you had better than anticipated jobs numbers for the month of july. look, the campaign rhetoric heading into november 3rd, maybe things will get better afterwards. as long as that a phase one trade the deal continues to hold, i think that's key for a lot of investors. david david it is. but the tensions between president xi and donald trump are rising every day, so it'll

be interesting to see how -- i think you're right, think the market would definitely, were it not for china news, i think the market would definitely be positive after those jobs numbers. super, thank you. lumber futures are setting new records. lauren, what's behind this surge? lauren: they certainly are. the record is about $641 per thousand board or feet, no end in sight. the saw mills shut down at the height of the pandemic, and they can't ramp up fast enough to meet this demand. we're seeing more builders building more new homes and people stuck at home doing do-it-yourself projects whether it's the new deck, your backyard, your home, it's your oasis right now, and these are some of the reasons why home depot hit another record tied today. we were -- high today. we were doing everything on our homes, but now we're just trying to survive, david. david: yeah. [laughter] it's enough just cleaning up

around the house, you know? lauren: i know. and constantly serving food. david: yeah. well, i don't have the kids that you have to deal with. good luck, my friend. president trump ever so slightly trailing joe biden in battleground state the ohio. how is he going to turn things around? i'll be ask the president's 2020 senior strategy guy in our next hour. you don't want to miss that. and every august the car world descends on pebble beach for concourse deelegance. it is a vicinity arage car exhibit and auction for very high rollers. it's fun stuff. this year's event, of course, was canceled because of the pandemic, so now in world's first, these cars are going under the hammer online. we're going to show you some of the classics coming right up. plus, general motors revealing its new all-electric cadillac. we'll take you inside next.

tara, did you know geico is now offering an extra 15% credit on car and motorcycle policies? >>wow...ok! that's 15% on top of what geico could already save you. so what are you waiting for? idina menzel to sing your own theme song? ♪ tara, tara, look at her go with a fresh cup of joe. ♪ gettin' down to work early! ♪ following her dreams into taxidermy! oh, it's...tax attorney. ♪ i read that wrong, oh yeeaaaah! geico. save an extra 15 percent when you switch by october 7th. ♪ give it up for tara!

david: welling it's not just schools ad work that are going online, car auctions are as well. for the first time ever, gooding and company is about to auction off millions of dollars in classic cars all online. bring in david gooding, the company's president. so, david, are you expecting the online structure of this to pull down the sales number? >> well, certainly our online sales do not compare anything to like a live auction at pebble beach where we have hundreds of millions of dollars in cars that we're offering. our online platform is much smaller, 77 lots as opposed to manager like 120. it's a different kind of auction, but it's actually a whole different business that we've developed just recently that complements our live auction platform. david: i see. so how much do you think this online structure will bring in? >> so we have approximately 15-20 million worth of cars that

we're offering, cars and automobilea, so we'll start seeing the totals come in at noon. it's exciting to watch. david: all right. well, we talked about the numbers, but i just have to say i'm one of the most envy e yous people in the world about your job, not that i don't love my job, but to get to deal with these wonderful cars all the time, you must have a lot of fun. >> it is a lot of fun. i mean, it's, you know, in tomorrow times we get to travel a around the world and look at the cars. lately, there's been a lot less travel, we're doing a lot of virtual meetings and what not, and then we are getting the cars shipped in. so we till get to interabout with the cars. -- interact with the cars. all of our cars are at our warehouse here in los angeles. david: i think we can show folks some pick pictures -- pictures. we've got a 1938 bugatti, i

mean, if you like the style, i love that old-fashioned style. >> yes. david: hooks like it's from a movie. how much are are you going to get if that? >> our estimate is $1.3-1.6. it won awards at pebble beach and other events around the world. david: and moving up to a ferrari, 1966. it's a 275 gtb long nose. expected to go for how much? >> we're estimating that car at $2.75-3.2 million. it's beautifully, extremely original, extremely well preserved example. david: by the way, is this rebuilt or this all original tough that you're looking at? >> no, it's all original. i mean, it's just been maintained throughout its life, basically babied. it needs nothing, but it's never really needed restoration. david: i've actually seen one of those on the road once, and it

stopped traffic, literally stopped traffic. ferrari 2003 enzo. tell us about this car. >> yep. very low mileage example. it's coming from a single owner. we have a few very special supercars coming from one family ownership, and our estimate on that car is $2.2-2.6 million. david: now, are these the original owners of this particular car? >> yep. the end sow e is coming from its -- ene sow is coming if from its original family ownership, which is rare. david: and then we have a ferrari, 1992, more in my price range. >> yeah, yeah. 1.25-1.5 million. it's an f-40, and this too is is a one-owner car. it's a u.s. example which many collectors of f-40s especially in the united states are really after the examples. david: david, when do you think you're going to get back to the person-to-person shows? >> the live abes. yeah, so, you know, we're

planning to do a live auction in the u.k. right at the beginning of september, september 5th. david: wow. wow. and that's been approved by all health officials and everything? >> yes, it has. yes. david: okay. is it going to be masked? [laughter] >> well, it's going to be -- there will be social distancing, expect crowds will be much, much smaller than what we normally have, and it's a small auction but spread out over -- we're actually doing it at a palace, and everything, there's quite a lot of space there. so all of the audience will be spread out, and it's going to be a smaller audience. only a group of 15 cars. so it's an unusual mix that we're able to just sell this small, very special collection to a live audience. but we don't need a large live audience because these cars are so special. we expect, as with a lot of our auctions, that the bidders will be bidding over the phone and internet, what not. david: yeah. i can imagine an auction with a mask gives an excuse for people

to get out of paying what they, what they thought that they were going to be paying. but, david, you've got a wonderful job. i wish you the very best. please come back and see i again. >> thank you very much. my pleasure. david: david gooding, appreciate it. well, general motors unveiling their first all-electric suv. come in, grady trimble, for the dell tails. hi, grady. >> reporter: hey, david. it's the first ever all-electric vehicle for cadillac as a brand, only the second ever for general motors as a company. unlike the chevy volt, this is cheerily a vehicle that is designed to compete with the likes of tesla. it's sleek, it's a luxury crossover suv. it seats five. general motors hasn't released a price on it just yet, but they say it'll be under $75,000 which competes with the he's lahr model x -- tesla model x, quite a bit more than the mustang mock e. the vehicle will have a range of

more than 300 mile, that is a little bit less than the tesla model x but right on pace with that ford mustang mock e. we talked to the president of north america for cadillac and for general motors, and we asked him about how this car and general motors in the future will be able to compete with a company like tesla. listen. >> for sure we can. i mean, we changed the world before more than once, and so, you know, the is significance of this reveal tonight is to give everyone an up close and personal look at what our intention is. >> reporter: of course, shares of ev companies like tesla surging even during the pandemic. that has not been the case for the legacy detroit automakers, but general motors indicating here that it is serious about what it calls an all-electric future. in fact, it plans to release 20 all-electric models by 2023 and that, of course, david, includes

the electric hummer which is i leased later this year, or revealed, i should say. dave david all right. grady trimble, thank you very much. appreciate it. well, dozens of nfl players opting out of the 2020 season over virus concerns as the league comes to terms with losing billions of dollars with no fans in the stands. we've got an ivy league coach coming up who's turning around the way the nfl does business. and if you're working from home and looking for a change of scenery, this is interesting, you might be interested in working from sin city. resorts are now offering travelers special remote work deals. we've got the details coming right up. more "varney" right after this. ♪ i'm searching for info on options trading, and look, it feels like i'm just wasting time. that's why td ameritrade designed a first-of-its-kind, personalized education center. oh.

their award-winning content is tailored to fit your investing goals and interests. and it learns with you, so as you become smarter, so do its recommendations. so it's like my streaming service. well except now you're binge learning. see how you can become a smarter investor with a personalized education from td ameritrade. visit tdameritrade.com/learn ♪ she was not able to vote in her lifetime, but i wanted to honor all that she had done to ensure a lasting legacy of education and civic involvement. i'm very proud to carry on her story.

yeah. this moving thing never gets any easier. well, xfinity makes moving super easy. i can transfer my internet and tv service in about a minute. wow, that is easy. almost as easy as having those guys help you move. we are those guys. that's you? the truck adds 10 pounds. in the arms. -okay... transfer your service online in a few easy steps. now that's simple, easy, awesome. transfer your service in minutes, making moving with xfinity a breeze. visit xfinity.com/moving today.

♪ david: well, the list of nfl players opting to sit out this season as virus concerns continue to grow, so, super, how many are we talking about here? >> we're talking about 66 players that have opted out of the 2020 nfl season. seven quarterbacks, four running backs, three tight ends and safeties, new england has the most players at eight, and that

includes don today hightower, chuly every time has someone opting out. players will get $350,000 for voluntarily opting out, $150,000, and that's an advance against their future salaries. yesterday was the deadline to opt out, and that's why you're looking at 66 players in total here. david: very interesting. thank you, susan. and a lack of or players is not the only problem, they stand to lose a ton of money if fans aren't in the stands so, lauren, how much are we talking about here? lauren: $7 billion in ticket resales according to ticket iq if fans are banned from the stayed yums. already four -- stadiums. already four teams have said they're not allowing fans back in the staid e yums, that will be a $1.3 billion hit alone. 2018 still undecided, so let's say they limit capacity to 20 or 25%, revenue is still going to

take a hit, and it's a double whammy. first, the traditional ticket revenue stream like season passes, that's gone, and now the resale market too. so it's an ugly scenario for the league, for most leagues. david: it is, indeed. next up, golf. people are immune to this problem in some of the other sports. the masters tournament will likely be held without fans. details on that? >> that's according to georgia's mayor, it's likely to happen. you'll still get the tournament in november, and this is after the masters was moved from april, but the masters is traditionally the first major of the year end when it comes to pro golf, this year you had the pga championship being the first. but there haven't been any details on confirmation on plans to play the masters up until now and according to the augusta mayor. she goes on to say the organizers will take the necessary precautions for players but with likely without the fans. no crowds trailing the superstars on the greens, but thank goodness we get to see

tiger woods at least defend his fairy tale 2019 victory putting on that green jacket, i almost cried last year when i saw that. david: it was spectacular. [laughter] >> yes, you did. david: no, i didn't, but i will, i will be watching because, again, that's one sport where you can live without the fans. baseball is tough though, i've got to tell you. all right. bring back wimbledon. coming up, we're going to be speaking with the head football coach for dartmouth university. his blue print on reducing player injuries has been adopted by the nfl, but could it also keep them safe from the virus? i'll ask him. and the president teasing an executive order on student loan relief. what exactly would that look like? we've got details. also, stuart may be outed today, but lauren and susan are still here for friday feedback. we've got some great entries. you could be among them. you don't want to miss it, that's coming up.

♪ ♪ get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity. 1 in 5 people you meet wear yeah. that many! but right now, is not the time to talk about it. so when you're ready, search 'my denture care'. poligrip and polident. fixed. fresh. and just between us.

david: it's 11:00 a.m. on the east coast and the nasdaq just hit an all-time high. go figure. we had the market down, the dow is the only index right now that is down, it's down about 46 points, but both the nasdaq and the s&p are now in positive territory. there are other things positive. you can do some stock picking if you want. home depot is up, lowe's is up, walmart is up.

these are all kind of home-oriented non-tech stocks. they are doing okay today. as we see now, even the tech sector is doing better. earlier, we learned, by the way, that 1.76 million jobs were added in july. the unemployment rate ticked down to 10.2%. both of those numbers beat expectations and national economic director larry kudlow says it's going to get even better. roll tape. >> you're going to see single digit unemployment rates. we may not get back, we're not going to get back to where we were at the peak of february, i'll grant you that, but the idea we're going to get down to, you know, below 10%, 9%, 8%, i don't want to go too far, but that's a big change in attitude. david: you heard it here first, a fox business alert, the u.s. sanctioning a dozen chinese and hong kong officials for their roles in limiting political freedoms in hong kong. staying on china, the president

issuing an executive order to ban the sale of tiktok in 45 days. susan, how is tiktok responding? susan: they say they were shocked by last night's executive order and they say they will pursue all remedies available to them, including in u.s. courts. you have heard president trump warn that if tiktok does not find an american buyer it will be banned by september 15th. microsoft still the lead suitor in this possible deal, also suggesting middle of next month for a possible finalized deal. the two sides are haggling when it comes to price. is it $10 billion or as high as $50 billion. also, does microsoft want all of tiktok or do they just want the u.s., canada, australia and new zealand. the trump administration isn't only targeting tiktok with this executive order but also tencent's wechat. tencent, this company is almost the size as facebook and they operate the whatsapp facebook app of china, so nearly everybody in china uses it. but does china retaliate against

this executive order if it's implemented against american companies that operate on the mainland. apple, they get 20% of their sales in china and microsoft itself does a lot of business, even operate a social media site linkedin, where many other companies from outside of china are banned in doing that. david: yeah. yeah. we are all linked. it's true. but there's got to be some way to separate companies that could put our private matters at risk, which is what is -- susan: you are seeing the reaction on the stock market. there is an international outside drag today. david: absolutely. although it's turning around. two of the indices on the plus side. thank you very much. now the race for the white house. we are just 87 days out from election day. imagine that. let's bring in steve cortes, trump 2020 senior strategy adviser. good to see you. it's been awhile. trump's poll numbers -- >> thanks for having me. david: let's start with that. with all the caveats that this time four years ago, trump was down by even more and of course, ended up winning.

nevertheless, he has sort of stopped slipping in the polls and some things have changed. i'm wondering if these are responsible for the poll numbers holding firm or even improving for the president, that he's gone back to doing these sort of daily or most daily meetings at about 5:30 p.m. eastern time with the press, and his tone has changed at these. he's more laid back at these meetings. what do you think about that? >> yeah, david, i do think that is certainly part of what we have seen lately reflected in the polls and there is a timing of the polls. look, i will be the first to say when we look at battleground state polls, they are largely -- they largely reflect a tie. it is largely a coin flip from here. i believe firmly we are going to win but i'm also the first to acknowledge that look, i think this campaign in many ways is going to be a cage match. to your point, i think part of the improvement is the economy and i know we will talk more about the jobs number but part of the improvement in poll numbers for the president is also, yes, these daily briefings the president is giving to

display to the country that he is in command of the situation regarding the virus and for him to do that in a serious and dedicated and regular way i think is reassuring to the american people. it's the right thing to do as a leader but it's also rewarding him politically. david: and his opponent is having absolutely the opposite sort of way of campaigning. we've got a new report from the "new york times" of all places saying that democrat officials are thrilled that biden isn't running a more public campaign the way the president is right now, all because of gaffes like this one. roll tape. >> -- like the african-american community with notable exceptions. the latino community is an incredibly diverse community with incredibly different attitudes about different things. >> if you have a problem figuring out whether you're for me or for trump, then you ain't black. >> i'm going to be joe biden. >> thank you very much. >> it's chris, but anyway.

david: i mean, it's clear that he has a problem and whether that's long-standing or newly discovered is open for debate. but i'm just wondering if there is going to be a debate. i mean, the more this guy says the more you realize that he's got real problems dealing with the public these days. >> right. you know, david, look, i think it's clear joe biden has had a terrible week. first he canceled on wisconsin which in some ways echoes hillary clinton and her mistakes, her snub of that state in 2016. then he's also had to repeatedly clarify himself regarding these serious verbal gaffes. what we have also seen is the very few times he does subject himself to real questioning, to challenging skeptical questioning from reporters, he reacts back with vitriol. the one african-american reporter who asked him a tough question, he answered back are you on cocaine, are you a junkie. we see here a politician who has

been so protected in his basement that he's not ready to face the level of scrutiny that is necessary to prove to the american people that you can be commander in chief of this amazing republic. by the way, we see the exact opposite with president trump. i think he's -- david: as we said before. let's talk about facebook and what they have decided to do in banning at least for a time this trump pac. it may go to other trump organizations as well. the use of facebook and social media in general by the campaign in 2016 was instrumental in the victory. i think you would agree with that. if they are denied, if your campaign is denied social media like facebook and twitter and others, leading up to the election, won't that hurt your campaign? >> well, it could, but we're going to be very vigilant about it. speaking out about it and if necessary, perhaps litigation to protect our rights to free

speech, because this is critical. look, i think in this age in 2020, the digital public square is effectively owned by a small group of big tech companies, all of whom have made it very clear through their actions that they despise president trump and more importantly, that they don't care very much for trump voters and for those of us in the america first movement. so they are not neutral platforms. they are clearly putting their hand on the scale and trying to tip it against us. it makes our job more difficult but again, it doesn't make it insurmountable. we can still win. david: very quickly, this attack on the nra by democrat prosecutors, it looks like not only are democrats going to be taking away cops on the street but also guns to protect yourself. what do you think of that strategy? >> look, unfortunately, joe biden who the mainstream media wants us to believe is a moderate, that's a myth, joe biden has embraced the most extreme elements of american politics including confiscation of weapons. he promises to make beto

o'rourke his gun czar, he says he will confiscate the most popular gun in america. unfortunately, that stance is consistent with what we are seeing from the new york a.g. going after the nra which is the oldest and largest civil rights organization in america. we, on the other hand, on team trump, will defend the bill of rights including the sacred second amendment. david: steve, good to see you again. thank you for coming in. appreciate it. we were just talking about facebook. lauren, they are extending now their work from home order. tell us about it. lauren: um-hum. yeah. through at least next july. they are giving workers $1,000 as a stipend to outfit their home offices. in the meantime, facebook's policy, it's in line with silicon valley. google, remote work through next june. twitter, some of their employees will be home forever. this is a trend, work from home. it's going to stay for a lot of people. david: but on the flipside, loreal wants people back in their buildings, right? lauren: okay.

this is interesting. loreal usa says you must come back to the office unless you have a doctor's note saying you have a legit medical condition that prevents you from coming back in, like pregnancy, high blood pressure, cancer, et cetera. fear, not a reason to avoid the workplace. so loreal is an outlier. while their policy is completely legal, it could -- things like that. so this is the opposite end of the spectrum, asking for medical records. if you don't want to come back in. david: we've got -- i love america because we are the land of opportunity and we are the land with answers to problems. nobody thinks of more answers to problems than we do here.

if you are tired of working from your same old boring house and you are looking to break free, susan, mgm in las vegas has an answer for you. right? susan: viva las office. work from vegas instead. how does the bellagio sound to you? you also get a discount on a round trip flight from jfk, flexible check-in, check-out times, and the premium package even includes poolside massages. yes. three-night packages start at $126 per night and that excludes the resort fees and applicable taxes. as you heard, facebook and google say employees don't have to get back to the office until next summer. you heard twitter and shopify say you can work from home forever if you can and it's not only las vegas but barbados and other caribbean islands offering one-year visas. do you want to be in vegas or on the sands and shores and lovely drinks with umbrellas in the caribbean instead? david: barbados would not be bad. sounds like a good deal.

susan: vegas sounds dangerous. that's what i was thinking. david: i think so. what happens there, stays there. thank you, susan. well, it's the end of the week and almost time to share your friday feedback. susan and lauren could be answering your questions this morning. stay tuned to that. and uconn becoming the first college football team to cancel their entire season. is this just the tip of the iceberg? what's coming up? we will find out from buddy teevens, dartmouth's head football coach. he has some ideas not only for college football, for the nfl as well. first, a new cnn analysis claiming that president trump is trying to discredit the election with his talk about mail-in voting. more on the growing controversies as we tick ever closer to election day, right after the break. ♪

we love our new home. there's so much space. we have a guestroom now. but, we have aunts. you're slouching again, ted. expired, expired... expired. thanks, aunt bonnie. it's a lot of house. i hope you can keep it clean. at least geico makes bundling our home and car insurance easy. which helps us save a lot of money oh, teddy. did you get my friend request? uh, i'll have to check. (doorbell ringing) aunt joni's here! for bundling made easy, go to geico.com. hello?

but what if you could stdo better than that?k. for bundling made easy, go to geico.com.

like adapt. discover. deliver. in new ways. to new customers. what if you could come back stronger? faster. better. at comcast business, we want to help you not just bounce back. but bounce forward. that's why we're helping you stay ahead and adapt with a network you can count on, 24/7 support and flexible solutions that work wherever you are. call or go online today.

david: let's get back into that mail-in voting debacle. i say debacle because of what's happening in new york. president trump preaching the successes of florida's system earlier this week. let's bring in mark smith, part of the president's 2016 transition team. mark, why is it okay for florida to vote by mail but we see what's happening in new york where 21% of the mail-in votes have been invalidated in just one race? what's going on here? >> florida calls absentee balloting which is the tried and true approach to voting, mail-in balloting. however, what the democrats,

when they talk about mail-in balloting and mail-in voting are not talking about the system that florida has in place, which really is absentee voting. what the democrats are talking about is mailing ballots to everyone on the voting rolls without any testing, double-checking of infrastructure, anything along those lines. in other words, to implement a mail-in balloting system and have it maintain the integrity of the election, requires years and years of preparation. florida has an absentee balloting system which has met that standard because of their years of using it and it's worked out quite successfully but absentee balloting again, where you make sure that the person voting is the person on the voting roll, that the ballot that they mail in is the proper ballot and everything is done correctly, is different than what the democrats are talking about this year where basically what they're saying is in the middle of an election year, in the middle of an election year in a pandemic, we want states that have never done mail-in

voting to implement a statewide mail-in voting system with no checks, no balances, no protocols, no testing, no infrastructure, no ability even to teach the staff how to do it. there would be no way to get your election staff together in any state to show them how to do it even if you could pull that off. david: bottom line is absentee balloting is much more monitored. it's highly monitored system. they monitor whether you're a valid voter, whereas with these mail-in votes, they just spread it out and we see what's happened in new york, where 21% of the ballots have been invalidated. a judge might overturn that but the point is, it is much, much less regulated than absentee balloting but you read the reports in the media, and they would like you to believe that there's no difference. absentee balloting is exactly the same as all the mail-in voting. >> that's right. and the way the media is able to do this sleight of hand is because in florida, the statute that allows for absentee voting

actually is labeled mail-in voting. so because of that disconnect, and the basically sleight of hand with how the left and the democrats are using the phrase mail-in balloting to say oh, well it's already done in florida, that's not true because what the democrats are contemplating is simply mailing out ballots without that check, where you go to your local town clerk and say hey, here's -- i'm standing in front of you, here's my signature, i'm on the voting roll, send me the ballot so i can vote. that's a process, a procedure that's tried and true that is perfectly fine. but what the democrats are talking about this year is dramatically different. david: of course it's not just the democrats. it's the whole mainstream media. cnn, by the way, just coming out with a claim that the president is trying to discredit our entire election with his talk about mail-in voting and of course, not differentiating between absentee balloting and mail-in voting. so is the public going to buy it?

they are being deluged by this message that this is all an attempt by the president to steal the election. >> i think the american public is far more sophisticated than mainstream media gives them credit for. i think we saw that in 2016, that despite the mainstream media saying that donald trump could not win, donald trump won in 2016. i think now the concern and the cynicism associated with the mainstream media among many many americans is greater today than it was in 2016. i think a lot of what the mainstream media reports will be taken by the american public with a grain of salt, as a point of view, as opposed to objective truth. david: mark smith, great to see you. thank you very much for clarifying all of this. appreciate it. and staying on the president, he is teasing a new executive order that could affect student loans. lauren, do we have any details? lauren: yeah. okay. so executive action to provide emergency relief for 45 million student loan borrowers. this is the tweet yesterday.

upon departing the oval office for ohio, i've notified my staff to continue working on an executive order with respect to payroll tax cut, eviction protections, unemployment extensions and student loan repayment option. congress through the cares act offered student reprieve through september. house democrats want to cancel $10,000 of student loan debt for struggling borrowers. senate republicans didn't include any relief in their plan. so without agreement in congress, we might see an executive order. it's not going to be forgiveness but rather, suspending payments, maybe keeping interest rates at zero. here's the damage. 45 million borrowers owe $1.5 trillion and that is a burden that can hold debt holders back from doing life things like buying homes and starting families. we'll see what happens. but the president did promise executive action, david. david: people eventually can get back to just starting families and making a living. thank you very much. let's run through some more earnings.

first up, yelp, a solid report there. ad revenue is ticking back up despite restaurant closures. they are spending less on their day-to-day operations. the stock is trading down, though, significantly. down almost 13%. dropbox, a cloud storage company, great report from them. swung to a $17 million profit from a $21 million loss last year. but they have announced their cfo will be stepping down next month. could be why the stock is taking a hit. it is down about 9.5%. well, stop what you are doing and take a look at this. a company offering at-home hologram machines. wouldn't that be fun for people sick and tired of zoom meetings. how you can actually get one in your own living room. we've got details you don't want to miss coming up. but first, a trucking company refusing to service any city that is pushing to defund the police. they say their employees' safety is more important than their own bottom line. they join us coming next. ♪

this is decision tech. find a stock based on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity.

guys! guys! safe drivers save 40%!!! safe drivers save 40%! safe drivers save 40%!!! that's safe drivers save 40%. it is, that's safe drivers save 40%. - he's right there. - it's him! safe drivers do save 40%. click or call for a quote today. robinwithout the commission fees. so, you can start investing today wherever you are - even hanging with your dog. so, what are you waiting for? download now and get your first stock on us. robinhood. david: let's get a check on gsx, a chinese education company. bring in andrew left from citron capital. you are calling them out for shoddy financing and this comes just as the administration has announced they will start de-listing some of these companies, these chinese companies that use bad accounting standards.

give us the details. >> well, it's not just me, but me along with probably 10, 15 other market commentators have looked at this one particular sto stock. not commenting on alibaba, this one particular name. it's a $30 billion company which if it was a u.s. company, would be halted and not be trading right now. its financials are a complete disaster, unrelated party transactions that are not disclosed and they could be brought to light but the chinese are using our capital markets to prop this stock up, make themselves wealthy and if anything goes wrong, no one ever gets in trouble. that is why the white house, the administration, hopefully someone's watching this, secretary mnuchin, will go ahead, call the s.e.c. and say we must look at this one particular company and if they do, they will see it will be a lot easier to move forward once we get rid of -- david: do you have any interest in this company at all? are you shorting the stock at all? >> oh, of course i'm short the

stock. i think their financials are inflated by 70%. there's a website that's been established called gsx stock fraud.com that pretty much consolidates all the information. i have been sending information to regulators. i know many other market commentators have as well. the stock is expensive on one level, not just expensive, more importantly, but the numbers are fraudulent and would never pass the smell test if it was a u.s. listed company. david: there's no question that the standards for u.s. companies are much stricter than the standards for these chinese companies. that's why they may be de-listed by 2022 according to the administration. andrew, thank you. we've got to move on. thank you very much. meanwhile, a push to defund and disrespect the police happening from coast to coast. now one trucking company is saying enough. they refuse to deliver to any city that is pushing to defund the police. come in, co-owner of jkc

trucking. mike, thank you so much for coming on. i'm wondering if this will hurt your bottom line at all. >> thank you for having me on your show. yes, this is going to hurt my bottom line two ways. trying to keep my drivers safe, i will probably lose business but secondly, my insurance. currently we buy cargo insurance, liability insurance, physical damage insurance, and i wonder how my insurance contracts are going to read at the end of the year if i will have coverage in these defunded cities. currently i have domestic coverage. maybe i will have to buy special riders like i do if i go to canada or mexico and even with those riders, will that be enough. the biggest issue we are having is the insurance companies have never been fans of the trucking companies. always raising our rates, you know, cutting coverage. i wonder if -- i pray every

night that jkc and other trucking companies will have enough money at the end of the year to stay in business. david: do you have any doubt that the increase in crime that we have seen is directly related to the decrease in funding of police and the disrespect of police? >> in my opinion, yes. you know, because if nobody is watching or nobody's going to be liable for their actions, why would somebody not break in somewhere or steal something or do bad things? david: all right. well, truckers clearly have a friend in donald trump. he's been trying to lure the truckers to his side, he has a lot of respect for truckers, always has, even before he was in politics. how has he helped you during this crisis, not just the crisis with the violence but also the pandemic? any tax breaks from him or anything like that? >> well, first, i want to praise the president for even bringing

trucking companies into the white house and explaining to all of america that trucking companies are the backbone of america, making all these deliveries, especially during this covid crisis. one of the things president trump did do is offer the ppp which we got some money from the ppp which literally kept jkc in business, going during this hard time. it saved jkc and other companies. david: before the crisis, before the financial crisis brought on by the virus, as i understand it, there were plenty of very high-paying jobs in the trucking industry. have those disappeared? >> correct. so what is happening is that all these states shut down, you know. the volume of freight came to a screeching halt. food service industry came to a screeching halt which is like 45% of our business. grocery went up but it wasn't

enough to cover that void. and what's happening now is there's a decrease of volume of freight and now everybody is fighting for it, and the freight goes to the lowest bidder. sometimes these rates are going so low that it doesn't even cover our cost. you know, it's cheaper to park the truck. david: very quickly, have you made any efforts to reach out to police departments, particularly those that are under the gun right now? >> you mean -- i have not, but i would be willing to sit down and talk and i welcome them to have that conversation. david: my own personal feeling is that this is going to pass. americans care a lot more about having police on the street than they do about defunding the police. i have a feeling that this is something that's going to pass. to you very quickly. >> i think it's going to pass but you know, defunding the police is not the solution. we have to work together with

critical thinking find a solution during this time of the crisis. the government has been in the driver's seat making decisions for small businesses. it's time for small businesses to take back the steering wheel and make the right decisions to sit down with politicians and i welcome politicians to sit down with us so we can educate them what is the best for our economy because small businesses are the backbone of america and i urge other business leaders to stand up and say something. only our voices heard together will get this economy roaring again. you know, there's no -- there's no more time to be silent anymore. we have to take action. david: absolutely. absolutely. it's not just the defunding of police, by the way. it's the disrespecting of police, almost as bad. both of those things i think have to change. mike, great to see you. good luck to you. appreciate it. >> thank you very much. david: now taking a look at flir, they make the thermal imaging cameras that the ceo told us about earlier. roll tape. >> this is one tool but it needs

to be integrated with an overall plan, as you state you could not have a fever or show those symptoms and perhaps be spreading and also, to be clear, this technology's very effective at measuring large groups of people coming into venues but just because you have an elevated skin temperature does not necessarily mean you have covid-19. so it must be integrated with wider practices. david: next case, take a look at zoom. a huge pandemic winner. but lauren, tell me about the new product for people who are just sick and tired of video meetings. this is exciting. lauren: this is straight out of the movies. if you can't be here, you can beam here. there's a company called portal that are selling a $60,000 tremendous machine, the size of a phone booth, that you plug into your living room or basement and what it does, it beams a live hologram image of yourself to someone else. so you feel like you are really

there at a time when we are zoomed out. you can't wear your pjs, however. it will make life feel real again. very expensive. they are working on a cheaper, smaller device as well. david: they will get one, no doubt. they will get one. this is very exciting stuff. again, it's kind of unfortunate for those people who like to wear their shorts in these meetings. they won't be able to get away with that anymore. thank you very much. lauren: i know. david: here's something to cheer about. it's international beer day. we love beer. people in more than 100 cities can score free drinks today. we will tell you if you qualify coming up. and more than 60 pro football players will sit out this season over fears of the virus. one college team seems to have safety all figured out. their coach joins us, next. ♪ now is the time for a new bath from bath fitter.

every bath fitter bath is installed quickly, safely, and beautifully, with a lifetime warranty. go from old to new. from worn to wow. the beautiful bath you've always wanted, done right,

installed by one expert technician, all in one day. we've been creating moments like these for 35 years, and we're here to help you get started. book your free virtual or in-home design consultation today.

david: we have some really good news for the parents out there and the students. new york governor andrew cuomo just saying by current infection rates, which have come way down in new york, all school districts in the state of new york can open. this is spectacularly good news for a lot of parents out there wondering what they were going to be doing for their kids. meanwhile, at least 66 nfl players are sitting out this season over coronavirus concerns. this coming despite new safety protocols and social distancing rules. the nfl is now taking cues from dartmouth college, which has been holding contactless training sessions for years. come in, buddy teevens, dartmouth head football coach. coach, great to see you. thank you for coming in. we should explain what was happening. you took over a losing football team, god bless dartmouth but it did not have a winning team until you decided to change the way the players practiced.

can you explain? >> yes. thanks for having me. about ten years ago, we made a decision we were no longer going to tackle. too many injuries and we weren't winning any football games. career-wise might not have been the greatest timing. it was 0-10, 2-8, new a.d. and new president was on the firing line but we ended up flipping things. our players are safer, they are exceptional tacklers which is a big thing certainly with us, and i think other people can replicate what we're doing. david: now, we should emphasize for those listening who may have heard you wrongly, this is for practicing. in practicing, you used to tell people when the army is preparing for battle, they don't use live bullets against each other. so why use live collisions when we get ready for opponents. so for practicing, you don't have that contact and i imagine you have a lot less injuries as a result of that as well, right? >> exactly. it dropped considerably. certainly concussive injuries,

head injuries and orthopedic injuries. players felt better on saturday and we played better and ended up winning a lot of ball games. david: having messed up my acl in a practice, i applaud what you did. so the nfl picked up on a lot of this. they are -- a lot of those teams are now having the same kind of practice sessions. what are the lessons for teams whether in college or professionals who are worried about practice sessions going into the covid virus? >> well, i think the pandemic, football may be somewhat of a blessing and it sounds awkward but the fact that we're abbreviating preseason time frames, the training cycle is different than it used to be, you can't have the amount of contact in terms of social distancing and so forth, it's going to force coaches to think a little bit differently about how they do what they do. we went to it awhile back, we don't contact each other, we contact -- we have a mobile tackling device which we use extensively for tackling pads, bags and so forth, and just mitigate the contact with our players.

the end result is more productivity on game day, doesn't compromise, and that was a big shift in mindset. i think a lot of coaches are kind of the old school, well, this is how i learned it so this is what has to continue. i think right now it's a pivotal time. change what you do. the result is going to be the same and hopefully even better. david: let's talk about the attitude of the players for a second. as you might know, i'm sure you do, uconn just canceled their entire football season. i want to play a little tape on that. go ahead. >> our players really felt like, you know, the risk isn't worth the reward of going through a season not being able to accomplish what you want to do as a team or what you want to accomplish individually. first and foremost, they're the ones playing the game. david: so coach, how do you change the attitude? a lot of these players are scared. >> you know, at our level, the ivy league took a step and i thought it was the appropriate one, certainly disappointing as a football coach but it was the right thing for the safety of our players. we canceled our season.

and right now, we are kind of easing back into we may have practices, we may not. and i think a lot of schools will be following our lead very very shortly. the major colleges, money is such a huge factor in the decision and that's holding things up a little bit. players i think have a split view. some would love to continue and feel like they are invincible and others are very very cautious. you see it at the pro game. lot of guys are stepping back and saying family first, we don't want to compromise our parents, our wives, our children and so forth. i understand that. david: yeah. what an awful situation we're in. coach, you have done an extraordinary job with the team and really changing football, the way football is practiced at least. we thank you very much for coming in today. >> thank you. david: absolutely. thank you, coach. now this. we've got something to cheer about. it's international beer day. lauren, how do i get a free drink?

lauren: free beer. you have to live in a city that's named after a country. since it's hard to travel, miller is celebrating international beer day for folks in norway, iowa, peru, kansas, even mexico, new york and some 110 zip codes named after countries. these are some of the cities. i didn't know half of these existed. if you head to miller's website you upload a receipt that shows that yes, you bought a six-pack of miller light today and they will send you a rebate. david: where is mexico, new york? i have never heard of mexico, new york. lauren: i have no idea. david: i will look it up. if it's near, i may go there. all right. thank you, lauren. well, it's the end of the work week and time for friday feedback. you have been sending your questions and suggestions. lauren and susan are ready to address them. that's coming right up. ♪

david: now, i happen to know this is stuart varney's favorite part of the show, or favorite

part of week, actually, because it is finally friday feedback and you have been sending in your comments all week. come on in, susan and lauren. good to see you both. thank you for booieing here. i will read the questions then toss it to one or the other of you. the first question coming from rick. since "varney & company" is now refined its pandemic remote programming, to heretofore unachieved perfection, is it at all likely in-studio production is a thing of the past? susan? i want to know what you think. by the way, we're in studio. that's a real background back there. susan: that's right. that's right. well, rick, heretofore, i have to say it's been phenomenal how we have been able to keep the air waves going especially with all these skype and zoom calls but i will be so happy not to see one of those again after we get a vaccine and everyone comes back to work. david: i agree 100%. i'm sure lauren does dtoo. the viewer has a question on

your report about home schooling this week, writing she had just said her home-bound youngsters are not minding her. all moms of school-age children still want to hear her experience and insight and lauren, i'm sure you are as happy as punch, the fact that new york governor cuomo just announced all school districts will be open. lauren: i hope new jersey does the same thing. okay. i was telling a story about a phone call i had with the national home schooling association and i had to stop because the president was speaking, obviously. so this is the rest of my story. wonderful gentleman at that association said that i was a bad parent because i was unable to get my kids to listen to me. david: wrong. lauren: he didn't mean it exactly like that, but it really brought up this huge discussion that look, not all parents are cut out to educate their kids. leave it to the professionals. i know other people will disagree but i don't think i can home school. david: you got to know your limitations. that simple. all right. this viewer writes in, we all remember susan li's live reports

from hong kong and i throw in my two cents. they were the best i have seen from any reporter, given her knowledge of the lay of the land, have business interests begun fleeing in large numbers or are they adopting a wait and see strategy with the communist party in china? what do you think? susan: i want to thank anonymous for the question. from what i see, there isn't a mass exodus. people are not rushing to the airport to get out of town but people are definitely rethinking whether or not they want to have their headquarters in hong kong. you notice the "new york times" has started to shift their office over to stoweeoul, south korea instead. you heard that, singapore might be the beneficiary here of this national security law, but i have to say it's so sad to me, because i spent so many years in hong kong, i lived there as a child as well, and speaking to my friends who still live in hong kong, they say that the height of the -- i guess the height of the lifestyle in hong kong and all those colonial

romanticized white linen dinner parties might be over. david: people are doing the same with new york. rethinking new york, because of our leadership. it's not the communist party of china but the leadership of this city is causing people to rethink it and a lot of people are fleeing for slightly different reasons, but not too far off. all right. linda on facebook writes watch your show every day, my son is getting into investing because of your show, wow. good for him. what do you think of disney charging 30 bucks to watch "mulan" on a service we already pay for? lauren, this is made for you. lauren: okay. so yes, that's expensive but it's cheaper than going to the movies and it's not a rental. you would own it so it's $30, you can see it right away and have it forever. i think it's worth it. i think this is a sign of the times. i think we will see more of this. david: all right. if you own it, you don't have to worry about those old vhss we couldn't find room for in our house. if you own it, it will be streaming in the stratosphere. this person wants to know about

amazon. they write shouldn't bezos and the board consider paying stockholders future dividends and/or stock splits as apple does? susan, you know apple better than anybody. what do you think? susan: wow. okay. i laugh at this question because bezos and amazon only made a profit four years after becoming a public company in 2001 and the stock is at $3200. they haven't thought about a stock split at all. this is a company that has sold the mantra that as long as you show growth, you can spend and not make money for as long as you want. david: hey, great questions. thanks to everybody who responded. keep sending in your comments. more "varney" right after a short break. stay with us. on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity.

♪ ... ng about medicare and supplemental 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.

david: well the postmaster general just spoke about elections and ballots deliveries listen to this. >> although there will likely be an unprecedented increase in election mail volume due to the pandemic the postal service has ample capacity to deliver all election mail securely and on time in accordance with our delivery standards and we will do so; however, as discussed, we cannot correct the errors of the election boards if they fail to deploy processes that take our normal processing and delivery standards into account. david: and then there is this news out of new york, which comes as an amazing relief to a lot of parents and students out there. new york governor andrew cuomo

just saying by current infection rates which have come down quite a bit in the state of new york, all school districts in new york state can remain open for the fall. we'll see if they all do, but that's the announcement. neil cavuto, take it away. neil: all right, thank you, my friend, very very much. as david just pointed out here, the read from the governor of new york is that schools can go ahead and open in the fall. now that's his statement that doesn't mean they all have to adhere to that, and of course then there's the new york city mayor, with whom they've had a little bit of a relationship, let's get the latest on this from connell mcshane following these fast-moving developments. this was not expected connell. connell: well, there is a difference though, neil, between something you can do and something you will do and we'll have to see how this plays out over the next few weeks in the state of new york, but the governor giving the go-ahead for schools to open pretty much is inin