. maria: great panel and great show, thank you so much lee carter and michael lee. >> thank you so much. >> thanks maria. maria: have a great day everybody, we will see you tomorrow. the "varney & company" begins right now. stuart: good morning, everyone, what a way to start a new week, vaccine news, virus treatment news, new cases trending down, the market rallies big time, apple, tesla, big tech, they're all taken off again and the president is about to kick off the republican convention. start with this, warps bead for a vaccine, the financial times reports the administration will consider fast tracking the virus by britain astrazeneca. get it out there by the election. the truck teen will give

emergency use authorization to a new virus treatment using plasma from people who already had over 19. it's called convalescent plasma, it reduces the rate significantly in one big study. investors love the positive news on the virus and with new cases in america trending firmly down we have a monday morning market rally, the dow industrial is up 270 points, s&p up 28 and look at that nasdaq, were looking at again at well over 1%, 123 points for the nasdaq. this is very much a big tech rally all over again. apple stock premarket, well above 500 bucks, morgan stanley says it will fight 20, 30 at 512 getting there fast. look where it is now come up another 75 bucks, 2125.

will bring you the rest of the big tech news and a moment. just as the republicans began their convention, joe biden brings blockbuster news about the virus, he told abc news that he would shut the economy down all over again if the scientists say so. if the scientists say a national lockdown would save lives. that's what he said last night, he would hand over to the government to the united states to a committee. now look at this. marco hit louisiana in the next few hours, it might arise later in the week. laura powering into the gulf may develop to a category 2 or three hurricane. a lot of the gulf oil production and natural gas production has been shut down and the price of oil is up this morning. obviously a great deal to go on the show, let's get on with it. "varney & company" is about to begin. ♪

>> in order to keep the country running and moving in the economy growing, the people employed, you have to fix the virus, you have to deal with virus. >> of the scientists a shut it down. >> i would shut it down i would listen to the scientist. >> that was joe biden speaking with abc news saying he would shut down the economy all over again if the scientists tell him to. keith fitzgerald with us this morning. let's start with that, what do you think in the unlikely event that we get a second national lockdown with president biden, what do you think the market would do. >> i think it takes 35% right off the top. it would be a nasty mess, he would send unemployment in writing in the streets above and beyond what we've already seen and related to a whole host of different issues, it would not be pretty. stuart: we will deal with that separately. let's get to big tech, it seems there taken off all over again this monday morning and in

particular apple and tesla. i'm going to taken one at a time. first of all apple, 513, you want to put a price target on it. >> 600 bucks. stuart: what? >> a couple of days. >> here's the thing we would talk about fundamentals and pivot, the rational investing decision. now you have fear of missing out a whole lot of money, chasing the stock that arguably is still undervalued in my book. stuart: i have a lot to cover so i'm going to move on fast. tesla up 70 or 80 bucks again this morning, 2128. give me a price target there. >> let me look at my notes, this was a little tougher to pin down because it has a very different persona. i think 2500 bucks before the split is not unreasonable or unattainable but here it is driving things rather than the rational expectation price. stuart: you would not touch it would you?

>> actually i'm very interested in tesla, i think there's a much longer gain, i would not touch it at this price but i would wait until after the split and you but i'm interested. stuart: fascinating. move on to microsoft, premarket thereof two or three bucks, i'm not sure the price, i'll try to get on the screen but is at 215, where is it going. >> i think it stalled a little bit because people to understand the perception. i still think i'm a very large position for myself and my family, full disclosure, i think that goes sharply higher over the next five years. i intend to owner for the investing lifetime. stuart: that's quite a statement you have a long life to live. >> facebook is up this morning, re-50 this morning, $257 a share, price target for you? >> i do not have one facebook, i'm not comfortable the way teams are converted interacting with the legislature. they unleashed a can of

something i cannot mention on eric's with regard to facebook. it's probably going to do great and go way higher that i said i would not touch it but the fact of the matter is i don't like the legislative pressure. stuart: amazon well above $3300 this morning. do you think is both? >> that the logical thing but in the old days you would do that because you want access to capital, i don't think that's necessary now because you have fractional shares, etf, all of which give you expensive stocks. could it split, wooden splint, i think it's possible but should it a different equation. stuart: would you agree this is a split market, big tech dragging everything else along? >> no question about it, this is the market and this is doctor jekyll and mr. hyde and the question is which side of the fence you want to be on, i'm into wind so i want to be with big tech they digitize your life and change the world and they do

not matter when it comes joe biden effect, they can overcome the virus, to me that is the logical place to be right now. stuart: thank you so much, we will see you again later. let's get to the weather, the gulf coast bracing for two major storms, hurricane marco and tropical storm laura, they are obviously very strong winds expected to hit louisiana and mississippi this afternoon. tropical storm laura projected to make landfall wednesday or thursday. now because of those approaching storms that cut oil and gas production in the gulf, ashley give me the numbers please be too close to 58% of oil production has been shut down in the gulf of mexico. that is just overcome if you want to quantify, just over 1 million barrels of oil a day, the good news is marco seems to be losing power, the winds are down but the big story will be what is expected to be hurricane laura, 100 plus mile hour winds on the texas, louisiana border,

storm surge, the whole thing, natural gas is being cut ahead of the storms, workers also evacuated from 114 production platforms out of 643 in the gulf. the bigger concern is laura midweek, that can be quite devastating as a category 2. stuart: first time you have two goals in the golf at the same time since 1959. i'm going to put the cruise lines in the airlines on the screen, they're all up, president trump's announcement that the fda is approving a new virus therapy, fast tracking it, very good news for the travel industry. look at the airlines, they're getting a bump from exactly the same thing, good news on viruses or treatment on vaccines or treatment equals an upside move, the hotels, airlines and cruise lines, et cetera et cetera. the republican national convention kicks off today in charlotte, they're getting right

down to business, mark meredith who is in charlotte. what are we going to see today. >> we are going to see business happen inside the convention center over my shoulder but were outside with the rest of the media and this is nothing like were used to seeing for typical convention. later on 300 plus delegates will be gathering to renominate president trump as well as a vice president that business is expected to get underway shortly and expected to last a couple of hours. we had a chance to speak one-on-one with the argentine chairwoman then told us it was very important despite everything going on this year that republicans still have a chance to do some of their business in north carolina. >> we will have more live elements. were really going to talk about the president and real people and how his policies have made lives better for real people in the united states. >> now as for president trump, he's going to make his way here to north carolina a little bit

later on today, were still waiting to get the final schedule of what that will look like. were getting a better idea of what he looks to accomplish especially what it means for the economy, enter. were getting this from the campaign, he hopes to create 10 million new jobs within ten months, 1 million new small businesses and cutting taxes with take-home pay and keep jobs here at home. and same thing what he said in 2016, there were also be a focus on trade deals and made in america tax credit. as for their part, democrats on the ground in north carolina say they too are focused on the economy, we had a chance to catch up with the chairman of the democratic party yesterday. >> i believe voters will recognize and respect and understand while we don't have as many in-person visits by the democratic slate because we believe in protecting our public health. >> there have been protests on the ground here in charlotte over the weekend, no major incidents overnight that we know of but again where we are is a secure perimeter and anybody coming out can really not get close to the convention center.

as what you would normally expect, this is not a convention that we seen before. stuart: and obsolete is not. thank you indeed. we have reports that the owner of tiktok preparing to suit the trump administration, lauren simonetti is with us. this is all about the forced sale of the app. lauren: that was one executive order and the other banning transactions because of national security concern. so because of these actions, the trump administration has deprived them of their due process. it plans to sue the u.s. government today claiming it has been unfairly and incorrectly treated as a security threat. this is important because it represents a most public pushback yet against the trump administration by tiktok which is 100 million regular users right here in the u.s. stuart: is facebook ceo mark zuckerberg involved in all this? lauren: yes, the wall street journal is out with this report and is pretty concerning.

it says that marks a brick has been lobbying behind the scenes privately and publicly in a major speak into speech to georgetown university saying that tiktok is bad for how we do business in the united states, that they don't represent freedom of expression and their risk to our value in tech supremacy in the u.s. so we've had some private meetings and public speeches, even set up an advocacy group to tell the benefits to society from the u.s. tech companies and because of that i think it shows you he is worried, not only about competition from tiktok but what if microsoft or twitter or oracle buys tiktok. that is a threat to him. stuart: thank you very much, what are we got coming up, we have a stock market rally, look at this. plenty of green, up to 70 on they're down and up 126 on the nasdaq, big tech added to get,

big news on the virus treatment front, the president announcing the fda will fast-track a plasma treatment and astrazeneca vaccine can also be fast tracked, ready before the election, the market is up. the roll call will take place at the rnc next hour, we expect to see the president as well. we will take you there. this is just remarkable, mike trout rookie card sells for an enormous amount of money, nearly $4 million. how is it worth that much, ask the man who auctioned it off. "varney & company" just getting started on a great monday morning find your keys.

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again to make the point that it's on a monday morning rally, see the left-hand side of the screen, as a price of oil up 42 - 4252. the shut down production in the gulf. the get zoom, the videoconference platform, experiencing widespread outages. today many schools are starting classes virtually, big problem for the schoolkids, the stock up for books, 294 on zoom. president trump announcing a possible breakthrough on the fight against a virus, watch this please. >> the fda has issued an emergency use of authorization for treatment known as convalescent plasma. this is a powerful therapy that transfusions very strong antibodies from the blood of recovered patients to help tre t

patients battling a infection. >> we need an expert and we got one doctor michael, cofounder and ceo of integra. how big a deal is this? >> it is hard to tell. as a physician and a scientist, unless i see the data, it is really difficult to judge and one of the problems that we have with the fda in general and the scientific community, that we don't get access to the patient level data in order to draw our own conclusion on whether given therapy is good or bad or different. we at integra have a way to allow for data sharing, very rapidly, you don't want to share data with revealing patient information. stuart: what i have read and what i have been reading about this plasma treatment is that it was done on a trial of 30000

people and reduced mortality by 35%. those are the numbers that i have seen, that sounds like a pretty big deal. >> again we take a large percentage of the number without getting to the letter of the detail of individual patients, it's difficult to know how to interpret that, that's why were working with the fda, nih and i was on a call the other day with the head of the division of the fda to work out ways to share all that data, the patient level data not just overall statistics, scientist myself and other scientists can look at the patient level data because not all the patients are the same, 30000 patients, some will present one white and some will present the other and until we can get access to the patient level data, we cannot make conclusions. that's where davis sharing, robert data sharing in a way that preserves privacy is very

important and that's why we are doing that. stuart: we appreciate you being here. thank you very much indeed. let's turn to astrazeneca. the stock is up, there is a report that the trump administration is considering fast tracking astrazeneca virus vaccine. the stock is up three and a quart 8%. look who is here doctor mark siegel. good morning how are you doing. >> good morning, how's your coffee. stuart: you're absolutely right. could this vaccine be properly tested industry bidding in time for the election, before the election? >> this is the one vaccine that that might actually be possible. a dirty deep into clinical trials in phase three and the 30000 patients for the vaccine that is going on in brazil and britain and south africa.

we are studying in the united states. the problem is going to come when fda gets faced with this, they will not improve it based on data from other countries even great britain. so we have to see how her own trials do but this is the most promising of all the vaccines that are being tested right now. i believe that it is possible that will see it emerge by the on october or november, not out of the way of thinking at all. >> that would be warp speed indeed, would be the result of billions of dollars spent by the american taxpayer on this development? >> that's the other part of the story that is so exciting, never been done, manufacturing is not slowing this down, the money is coming from hhs to support it to give to astrazeneca and the vaccine, money is not the problem, money under manufacturing is not the problem will have 100 million doses ready if the vaccine science works. that is really never been done. >> i'm sure you heard what we said earlier, joe biden said he would shut down the economy all

over again if his science advisors tell him to. is any scenario that you can imagine where we would go for another national lockdown? >> not at all. i don't even like the term it's something that said brutally without taking into account what the collateral damages i use the term laser lockdown in other words if it's ready no bars, close the bars, if it's spreading in a restaurant, don't open the restaurant, the idea across the board lockdown why don't we look at nursing homes where it was allowed to spread in 40% of the deaths have occurred. we have to look at this piece-by-piece, walking down montana, there is nothing but doing destroying montana, 19 cases in maine and locking down main, it makes no sense, it's got to be looked at state-by-state and looked at restaurant by restaurant then rather than across-the-board sweeping political statements. stuart: i wonder if joe biden

wants to walk that back. thank you for joining us, i will take coffee and fix my mobile mouth. see you soon. we have a rally on monday morning, especially for big tech. back after this. ♪ 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. stocks by the slice from fidelity. i'm a verizon engineer, and i'm part of the team building the most

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stuart: the news on disney, they are going to continue reduced hours at disney world in florida all through november, all of that will be open 2 - 3 hours less than normal too so to speak. they're still not giving any update nonetheless and a strong upside market, 128 on disney. wells fargo they are giving layoffs to cut costs, the first quarterly lost in 12 years, a specific number job cuts not announced, the stock is still languishing at $23 a share. overall we do see the markets going up in just a couple of seconds. many companies are we thinking about reopening. tell me. lauren: they are postponing bringing workers back to the office until the new year, 57% of companies that employ over two and half million people say

yes we have postponed our reopening plans, workers will stay home longer, not to mention schools are mostly remote and republicans have not been able to include any legal immunity for businesses in their stimulus bill and as a fiscal support rise up, they are turning, they're expecting a quarter to be permanent ones. rehiring trent installed in recent weeks among the election. we are hoping to get back and is pushed back again to. stuart: why am i not surprised, thank you very much indeed. as the overall market looks like record territory coming for the s&p and the nasdaq when we open 30 seconds from now, keith is back with us. is this a big tech bubble, and anywhere probable to the.com bubble of the '90s?

>> you have a group of companies that have no revenue that will be up to levels. now you have companies with real revenue, ceos that it out exactly what they doing and it could be a whole lot more money with quality stocks, are they concerning, absolutely. are they a bubble, i submit no. stuart: here it is 930 eastern time on a monday morning and were off to the races, right from the get-go we have a 200-point rally for the dow industrials, we have not opened all 30 of the dow stocks but those that are open, we have about 25 - 26 on the upside, across-the-board it's a rally of three quarters of 1%. how about the s&p 500, i know it's going to be up, new hi there, all time high, 3424 is up .8%, show me nasdaq, that's good to be a big winner, one and a quarter% higher, new all-time high, 11445, just extraordinary. show me astrazeneca, the

administration is fast tracking their virus vaccine, astrazeneca is up 3% this morning. our next cas case, nvidia, a teh company, that's what it is, bank of america raised its price target to $600 a share and sure enough it is up 1.5% this morning at 514. let's go through the big tech, put them on the screen, they are all higher, facebook, alphabet, amazon, apple microsoft on the upside every single one. which is all-time high, apple, all-time high for apple, what news do we have on apple? speaker is leading the dow, look at the game 3.5%. this is a new milestone, shares traded about $500 but today is the day that you need to own shares in order to qualify for the 441 stock split that takes effect one week from today.

if you own shares today you get three additional shares when the stock splits the execution august 31. this is a timely split because shares are getting expensive, up today but over 8% last week alone and morgan stanley increasing his price target to $520 and that is a wall street high speed when they announced by 20 this morning and the stock was almost at 520 when they made the announcement. it's just amazing stuff. i'm running out of words. same story with tesla, i'm running out of words to describe their big run. give me some different words. go ahead. ashley: crazy, remarkable, the stock we know is up 408% in the year so far. it surged 49% since the 541 stock split on august 11 it was all the way back in 1374 and it closed last friday and this monday is at 2112.

in the stock split to qualify you have to own shares in tesla by the close of last friday and the close of this friday, you will receive four additional shares and then beginning one week from today, it will start trading on the split adjusted basis but whichever way you look at it, the stock has been meteor. stuart: good word. the first time i've heard that but it's been a meteor ride, well said. gold, when stocks are going up like this, what is gold doing, not much is the answer, up three box at 1950. keith is still with us, or you're worried about the rising gold, what is the problem? >> here's the problem a lot of people ol own gold through etf's which create additional volatility for something like that, gold is a nonperforming asset, people say the safe haven

but stuff like this prove anybody in gold potential is getting left behind with stock like apple, tesla, microsoft, all of those are on the move. stuart: okay, you cut yourself off short. we were giving you the rap crab. they were not doing that. a great service this morning, we do appreciate you with us being with us to the start of the sh show. stuart: i want to look at amazon, walmart, target, they're all clear winners in the pandemic. here is your other chance, tell us about the meteoric stock price rise. >> you might as well use that word with amazon, walmart and target remarkably all three reported blot sales in the second quarter, walmart digital sales nearly doubled, target nearly tripled, amazon showed sales growth in the second quarter of 40%. you have to remember, why, they are all well placed to capture the surgeon online spending. all three benefited from the

closure of nonessential stories, all benefited from a spike in online spending, they're in the right place at the right time and of course this is the backdrop of a lot of pain and unprecedented closures. some of the major department stores went bankrupt this year. including going through the list, j.crew, neiman marcus, jcpenney, brooks brothers, joseph eubanks. more than 6300 stores were closed already this year, when you go back to the walmart in the target in the amazons they range supreme. stuart: did like the big tech, five big techs and the three big retailers running the entire sector running great stuff. all good. let's get to delta, they are adding international flights. lauren: they sure are, they will add international routes on 50 flights is starts this winter and the bring back daily service

from seattle to china and also japan. they are going to keep the middle seat block through january 6 but start to increase capacity on their main cabin, that will start in october. more people are flying, that is why the stock is up today, that is a positive in the pilots union doing everything that they can to avoid involuntary furloughs, they did warn over 2200 pilots that they could be let go and they've already received over 1800 volunteers that say we will step down, we will go out on early retirement. stuart: that is fascinating. that's have a look at the big board. we moderated the gang, were about 20000 level but you're up 159 points. we were expecting again of well over 200 points in the first few minutes of business. that's what we got but then we come about and would not come down obviously but we moderated the gains in some of the stocks that were moving higher, we

still got the big techs doing well, although the they have moderate against just a little bit. apple for example is up 15 $15t had been up 16 or 17 we have microsoft up just a dollar, had been up over $2. you can see how the gain is on the big board, by that i mean the dow jones industrial average, that's why it's. the gains a little bit. two blockbusters for you. warner bros. releasing tenant in theaters this week but disney is releasing more land on disney+ instead for $30, which plan is better. he was going to make that judgment for me? do we have anybody on this. >> sorry folks, i do apologize. look at this. amazing, mike trout ricky carr sells for $4 million.

how did it get to that price level? we have the guy who auctioned it off, he is on the show today, the housing market, it is on fire, they're calling a sellers market, could housing lead the economic recovery. "varney & company" just getting started. ♪

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stuart: ten or 11 minutes, 12 minutes into the session about half a percentage point, 153 points, the dow is holding just above 28000. the ten year treasury yield is right now 0.63%, the price of one bit coin as of right now is 11800 bucks in price of oil $42

abruptly because of the shutdown of gulf oil production. take another look apple, again an amazing run despite its fight with the maker of fortnite. is there any news there? lauren: a lot of news. this battle is broadening, epic games is accusing apple of trying to cripple his development tool, it's unreal, it argues that many other game developers including microsoft could be hurt because they use the system. the repercussions include companies having to restart their gain development from scratch or abandoning altogether. so epic is painting apple in a very negative light and also held a free online competition last night to do support for their case, they called it the free fortnite cup, it was held as one tha last battle across platforms designed to pressure

apple to seize the demands that it lowers the commissions and charges of app store. how is apple responding to all of this, it knew it the hot fix to circumvent the 36 is in breach of contract and shoplifting, this is a statement from a filing, if developers can avoid the digital checkout, it is the same as if the customer leaves and apple retail store without paying for shoplifting products, apple does not get paid. apple also accusing epic games ceo of asking for special treatment in terms from apple, it did not get it so then they launched the public feud. i think investors are siding with apple. stuart: it looks like it when the stock is up 3%, $512 a share. absolutely. this past weekend, the movie unhinged starring russell crowe and some theaters, it is a lot

of driving movie places, $4 million with the box office take this weekend. next weekend warner bros. releases a big blockbuster, supposedly tenants, that is coming up this next weekend. jeff joins us this morning, you don't think this is going to work to you? you don't think that bringing people back into the theaters like this is going to work, tell me more. >> you have old hollywood that is represent by warner bros. clinging to the old model and you have disney you is embrace streaming and capitalizing on streaming, they are going head-to-head in the problem warner bros. has, first off they laid off 600 people last month, second they have a budget of between three and $400 million for this film so they are making a big, big gamble, they are

hoping is going to pay off, my opinion is that the new model, listen they are betting on the right director and christopher nolan, he is the best, this is the film that's going to look very good on the big screen but they are making a very big bent, they should've put this out a little bit longer and they would've done much better because people are still afraid, there still afraid to gather, it's not going to bring in the numbers that they're going to need to make up for $400 million budget. stuart: how about disney, they're making mulan available on disney+ in a couple of weeks time, 30 bucks is the charge, what do you think about that, seems eco lot of money to watch a movie at home. >> people are desperate for entertainment, disney is the king of content, mulan is a very, very big entity for them, i get going to be record-breaking for them.

i think a lot of the kids that are still home, not in school i really going to embrace this, i think disney has done everything right, i think disney understands streaming and understands how to leverage their content and i think this will show that yes, $30 is a lot of money to sit on your couch and watch a movie but what i think this is going to show, people are willing to do that and people have gotten very comfortable on the couches, the couches have dents from sitting on them. [laughter] stuart: they will bring in everybody for a 30-dollar movie and your own home. free popcorn two. that helps. jeff, you are right, thank you for joining us see you again soon. if you watch the show last week we spent a lot of time on apple and tesla, rightfully so because they keep on going on. we got an all-time high for apple earlier today, we are showing you the big board, were up 120 points.

we have a new all-time high for apple, at least 500 -- $510 a share has come back off its high, it was up about 513 - 514 previous come back a little bit. as for tesla holding onto $30 per share gain, 2078. in two has come off the highs and hit earlier this morning. take a look at the grocery outlet, go is a stock ticker symbol, grocery outlet holdings is the name of the company. they are a pandemic winner, huge increase in business. we'll have the ceo on the show momentarily. we are tracking hurricane marco, lots of oil production shut down in the gulf, janice joins us next hour with the forecast.

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stuart: we are moderating the gains, let's put it like that come up 120 on they're down and we have been up over 200 easily, the nasdaq holding onto its gain of a triple digit, we love to

talk pandemic winners on the program, yet we found another one. called grocery outlet. the same store sell up 17% last quarter, that as compared to last year and as for profits, up a massive 82%. that is a pandemic winner indeed. eric is with us, he is the company ceo. good to see you again. >> thank you, good to see you. it's been a little time since we were together last year. you are a discounter of major brands. is that right? people call you the t.j. maxx of supermarkets. >> real brands, not generic, how do you discount major brands. >> we work with every major brand we can get our hands on, make a great relationship and we work to buy the opportunistic products, anything that cannot go to conventional market with.

it could be a promotional change, package change, a close product, an amount of 1% of the total industry and we've been partnering with these manufacturers for about 40 - 50 years inputting discounted products, a lot of perishables in the store, 40 - 70% savings. stuart: is that what did it for you, the discounting at the time of the pandemic, that's what put you over the top of 80% increase in profits. i ask because your business model is different, used independent operators for all of your 362 locations. is that right. >> that is right. it was definitely the buying model, people were looking for value but i say more so it was operator. the independent operator we put them into business and put them in a location and we ask them to think hard about how they communicate and work with their communities. they were really responsive,

they stayed open if they needed to stay open and they connected with the communities when they needed to and they were able to resupply faster than the competitors. as people ran out at the regular stores and they needed paper and rice and beans and they were able to find an alternative. and i think people like it. stuart: in 30 seconds, can you tell me the big change that you have observed in consumer behavior because of the pandemic. >> i would say people are consolidating trips, i heard you talk about walmart last year or last week, people are going to stores that they feel comfortable in, if they have to go shop, they're gonna go out somewhere they get safety and cleanliness and is doing that very well. i would say the other thing that people are doing, they are being very intentional with how they are shopping, making list and coming into this door shopping for a deeper basket. stuart: you have done well, congratulations, grocery outlet. thank you so much.

i appreciate you being with us. republican convention is starting, i want to start contrast to what the democrats served up last week. we have a live action show for you coming up in my take on as well. i gotta say this came as a real shock, $4 million, almost 4 million from mike trout rookie card. the man behind the record-breaking auction will join us in our next hour. ♪ 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. . . . . robinhood believes now is the time to do money.

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stuart: after heart hour's worth of business we lost a little month morning steam. we still up 160 on the dow and nearly 100 on the nasdaq. happening at this morning at this hour in fact the republican national convention. the roll call starts. when it actually does start we'll take you there. we're checking market. we're seeing lots of green. apple hit an all-time high earlier. it backed off. still up there, five hundred dollars a share. 506 to be precise at this hour. it is starting now, the republican national convention. first thing we'll see is the roll call. pledging support for president trump. this will be real, not virtual. 336 delegates are in charlotte,

north carolina. they are there, not on tape. president trump will be on his way shortly. we expect him to drop bitcoin essential site soon. you will see it. this week with the republicans will be very different from last week with the democrats. vast differences in policy, style, and outlook. for example, a second trump term cuts taxes to create 10 million jobs in 10 months. biden hikes taxes three to four trillion dollars. who knows how many jobs and industries that would kill. a second trump term defends law enforcement vigorously. biden would shift money away from the police. he is silent on the mayhem in democrat-run cities. a second trump feature, second trump term features vaccine at warp speed and promising plasma treatment before the election. joe would put all of of us

through a national lockdown if the scientists tell him to. extraordinary. there are other differences. trump is energetic, joe is not. trump will speak every day. joe spoke once. trump can engage and stay focused. joe cannot. trump paint as picture of a dynamic prosperous america. joe's oh out look is grim. tax hikes and maybe another lockdown. the republicans promised all kinds of surprises at least one a day we are told. nobody telling me exactly what to expect, they have to watch they say, so that is what we will do. 70 days to the election, shows the biden-harris ticket with eight point lead. we'll see what the polls show with the republican convention thursday night. let's bring in erin perrine trump 2020 director of communications. erin, i believe the president is on his way.

will we see him in charlotte today? >> i don't want to get ahead of the president. he is headed to north carolina separate from the convention. there will be big surprises, big reveals throughout the week. this is america greatness focus convention and about the american people, we're excited. stuart: come on, erin. give me a hint at at that's surprise, come on. a broad hint. can you? >> stu i love coming on with you, you know i will not ruin the fun coming with our convention. stuart: is it a person? is it a video clip? is it an animal? come on. >> [laughter]. we're going to have big reveals every day, big surprises. you will see president trump every day but not necessarily remarks. the best way to see what is going on at the republican national convention is tune in. stuart: is most of your convention going to be live as

opposed to virtual? >> you yes, you will see plenty of speakers live throughout the week. we'll talk about the "land of promise." the opportunity america protects and how president trump protected fostered that promise to everyday people. you will hear from everyday americans. who were forgotten in the united states by men people like joe biden. you will hear directly from them throughout the week. you will hear business owners protected by ppp. front line workers, people like the mccloskeys who stand up against the tyranny of democrat-led cities. it will be a opportunity as opposed to socialism. they had to hide their candidate, president trump will be front and center and so will the american people because that is who president trump focuses on each and every day.

stuart: what about the difference, just characterize the difference between last week with the democrats and this week with you guys? >> last week we saw a dark and divisive tone from the democrats. you wanted to believe you had to feel bad about being an american watching democrats. you will be proud to be an american watching the week ahead. we'll talk about the great company. how president trump delivered jobs. a bold plan for the america first future. that will hold china to account, that will lower prescription drug prices in the united states that will fight for every american and their opportunity, including school choice. including lowering taxes. 10 million jobs in 10 months. you will feel good about being an american. you will not have to apologize for it. i understand joe guiden may feel bad because he is a bad candidate with bad policies. president trump is proud to be an american. he is proud to fight for americans. that is what you will hear each and every day this week.

stuart: last one, which hour today the first big reveal, big surprise will be made? >> stu, if i told you i would ruin the surprise. i can't do that. just stay tuned. the it will be great. stuart: the interview is over. erin, thank you very much for joining us. we appreciate it. >> thank you, stuart. stuart: we're all watching, left-hand side of the screen. we have a lot of interesting vaccine and treatment news for you today. it the started with astrazeneca. "the financial times" reports the administration will consider fast tracking their vaccine. we also have the development on plasma. that is also a developing treatment which is supposed to be very promising. now we've got news from pfizer, biontech and pfizer. what is that. reporter: they will have enough date to seek regulatory approval for vaccine by november of 2020.

this moves them up on the sigh to compete with astrazeneca with the first vaccine. if authorization or regulatory approval is obtained the currently plan to provide 100 million doses worldwide by the end of 2020 and 100 million doses in 2021. regulatory authorization and approval that could be emergency use authorization or flat-out approval by the fda. one side note fiz err's vaccine is for adults only. they are starting the kids vaccine trials right now to see if it is tested in children. stuart: edward lawrence, thank you very much indeed. seems like we're moving up the timetable for arrival and use of a vaccine in america. ed yardeni is with us. market watcher. ed, do the markets really need a vaccine to keep going up? >> well, we certainly have had a lot of vaccine news. the market bottomed on

march 23rd. and of course most of the melt-up in the market has been related to zero interest rates provided by the fed and all the monetary stimulus but i don't think we would be here if we hadn't also along the way gotten support from the health care community that they're spending billions of dollars for a vaccine and that l they're making progress going from phase one to face two, to phase three. we're in phase three. some talking about having it by the end of the year suggests that phase three is going very well. stuart: make the judgment on big tech and its movement. i mentioned early this morning, it reminds me in some ways, big tech gone up so far, so fast, seems like a bubble. it reminds me of the dot-com bubbles of the 1990s. is there any relationship between the two? >> i don't think we're there yet. it is starting to feel like

prince's song, party like it's 1999? stuart: yes. >> and it does feel like that to a certain extent but i have looked at the magnificent five, the big five tech stocks, and their revenues have been growing 20% per year at an annual rate on average since 2015. and collectively the forward p-e for those tech stocks is 40. so you're paying twice the growth rate but the growth rate is unusually high for big cap companies, and they're able to keep that going. so, i'm not worried at this point but, if it keeps going, we'll have to include that perhaps we are at a melt-up like 1999. it is the early phases. stuart: got it. ed yardeni, thanks for joining us. the market has come back a bit now. we're up 210 points for the dow jones average. this one, evacuations, they

are underway in louisiana. the gulf coast is bracing for back-to-back hits from two storms. janice dean is with us. what are we looking at? >> we have marco. marco was a hurricane yesterday. it is weakens as it moves closer to land. that is the good news but the one behind it is we will pay attention to. marco over the next six to 12 hours making landfall we think across louisiana. but then we have this storm. this is laura moving south of cuba into the gulf of mexico. this one actually could be the big deal as we head to wednesday and thursday. here is marco. 50 mile-an-hour sustained winds, offshore from grand isle louisiana. we're expecting potential landfall later this afternoon and this evening. there is a chance it hugs the coast as it moves towards texas. we have tropical storm warnings in effect for a good chunk of louisiana, including new orleans

towards mississippi. with this storm, heavy rainfall certainly. we'll see storm surge. tropical storm force winds and tornadoes are a risk as well as we get to tuesday and wednesday. the next big storm as i mentioned. laura could easily be a cat-3 storm, a major hurricane as it has a lot of warm water to go through in the gulf of mexico and not a lot of land interaction. so even though market is something we have to watch, laura is the bigger deal. and could be a bigger menace for parts of louisiana to texas. first perhaps major hurricane of the season in laura over the next couple of days. we'll keep you up to date. stuart: you always do. janice dean, thank you very much indeed. >> you got it. stuart: california, wildfires causing thousands to evacuate there. ash, the latest please. ashley: if there there is a state that could use some rain, stu, it would be california.

wild fives have scorched more than one million acres, more than 13,000 firefighters battling the flames. this is remarkable. in just the last week 12,000 lightning strikes have started 585 fires. at least four people have died so far. there is two huge fires. one in the northern bay area and the central valley, 347,000-acres. and another one east of san jose, 343,000-acres. those two fires are among the top three ever record the in the state of california. a major disaster declaration in california which opens the way for federal aid. there is not enough resources to fight all the fires. california says homes will be burned down, there is nothing they can do about them. one interesting wrinkle, stu, they have fewer prison inmates helping on fire lines because the inmates were released early because of the pandemic.

they don't have their help. stuart: multiple problems for california. thank you, ashley. our california guy, steve hilton. he is on the show next hour. we'll ask him about the wildfires. what the democrat leaders of the state are doing about it. we'll ask him about his interview with the president. during the interview mr. trump slammed joe biden' ties with china. president trump: china owns joe biden. they own joe biden. they on him. they want me to lose so badly. stuart: mower on that in our next hour. first the postal service set to receive $25 billion in emergency funding. okay. i don't care how much money they get. you're going to have election day chaos in this country. by the way, one quick point. tesla is now down $64 a share. a lot of news happening today. we'll be back. ♪

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stuart: we still got, now we have a 228 point gain for the dow jones industrial average, we're up 100 points on the nasdaq. so we got a rally pretty much across the board. take a look at tesla, there is a real reversal. they were up what, 70, 80 bucks when we opened the market. we're down to $2,000 a share. noble energy approved the deal with chevron.

this is called consolidation in the era of the pandemic. tell at that lines, delta plans to resume more flights on international routes. they are also in talk with their union to avoid furloughs. by the way, 2000 pilots took early retirement. took the package. delta reached $29 a share. 6% gain today. american airlines ramping up their cleaning protocols. tell me more about that, lauren. lauren: they're doubling down on the idea of flying is safe. so american airlines and the state of texas are to receive epa approval for the special surface coating they put on airplanes. it kills the coronavirus in two hours and lasts for seven days. it is made by a dallas-based company called applied biosciences this epa

authorization is only given in the state of texas and american planes departing from texas. for now. it could expand. it is part of the airline's goal, convince passengers to make sure our planes, terminals in the airport are safe. come on back. fly somewhere. new surface coatings. stuart: they're doing all they can to make us feel safe. that is what they have got to do. and, success so far i guess. all right, deere -- lauren: stock up 7%. stuart: exactly, case closed. deere, john deere and company, they're a pandemic winner. we got that last week. what have they got now, ash, an upgrade? ashley: nice upgrade from bank of america analysts from neutral to a buy. raising their price target to $234 from 194. right now the stock as you can see right around 205. as we know, they posted very strong second-quarter earnings.

much improved margins in their ag business. bank of america says look, the. stuart: momentum is clearly building into next year. don't forget john deere gave a very bullish out look the rest of this year with regard to business and earnings. all around, as you said, stu, a winner in this strange time that we live in for john deere and their tractors. stuart: the gators, all other stuff though come out with, which i am a customer, i might add. thanks, ash. the house passed a bill to give the postal service 25 billion bucks. congressman thomas massie is with us now. congressman, first of all the postal service has got $10 billion already which they have not spent. i don't think this has anything to do with the election. this is everything to do with bailing out the union. but my point is, i think we're going to see chaos on election day. chaos in election week. because of all this mail-in balloting.

what say you? >> well, there is chaos in congress. you know, pelosi is infamous we should vote on a bill to see what's in it. today, right now in this oversight committee we're having a hear on a bill on a already passed on saturday. she literally had us vote on the bill before we have the hearing. the conspiracy theories the democrats cooked up, the wheels will come off that bus today as we expose them. we'll have the postmaster general here testifying. you know, on election day, yeah, there will be calls for fraud from both sides but i like to point out you're going to get dozens of pieces of junk political mail, it will all get to your mailbox on time in this election. you know, volume of mail that involves your actual is tiny. tiny fraction compared to actual volume of mail. the u.s. post office mails 400

piece of mail a day. it will be a small piece of political mail they will receive each day. stuart: you and your wife tested positive for covid aren't at this bodies. i believe you think both got the virus in january. was this before anybody heard of covid-19. >> before anybody heard of covid-19 i was sicker than a dog for four-days, fatigue, fever. the symptoms you're hearing about. i didn't really think at the time it was covid because nobody even mentioned it. there were only a few cases in the united states if any. then i got tested when louie gohmert found out that he had covid. i didn't have the virus but i had the antibodies. my wife got sick from me in january. we got her tested. turns out she has the antibodies. we got our daughter tested. we're doing contact tracing seven months later. implications of this, my hunch the virus was here in january

and antibodies last quite a long time. stuart: does that mean if you got the antibodies you can't get it again and can't pass it along? >> there are naysayers who say you can get it again but really no confirmed case that you can get it again. i believe i've got immunity from the virus and i believe that i am not contagious or susceptible as long as my tieder level is high. it is 3:00 times the level you need to donate convalescent plasma. the president talked about it last night. now that he approved that program. i'm looking to donate my plasma. i'm look fog are a place to get that. help people not getting the virus but already people getting the virus. most doctors think this is a good efficacious treatment for people to take the convalescent plasma who have the virus. stuart: we appreciate that. our very best wishes to you and your wife and your youngster there. we appreciate it. thank you, sir.

>> thank you, stuart. stuart: if joe biden gets into office and there is a second wave of the virus, here is what he would do to the economy. roll tape. >> so if the scientists say shut it down? >> i would shut it down. i would listen to the scientists. stuart: shut it down. what do you think would be the impact of a second nationwide lockdown in this country? i will ask stephen moore that question. he is on the president's economic recovery task force. he is on the show next hour. last week on the program larry kudlow said we would have 20% growth in the third and fourth quarters. that is compared to the second quarter. i like the sound of that. can we have that vigorous kind of recovery? i will ask the question after this. ♪ so you're a small business,

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♪ ♪ stuart: now where are we? we're up 262 points for the dow industrials. that is better part of 1%. we have recovered upside momentum. how about gap? show me, please, they're up 6%. 6.25%. why, lauren? lauren: rumors of a takeover.

when you think of gap they have an athleisure brand, athletta. analysts love the brand. there is chatter vf corporation that the outdoor sporting brands like north face, timberland, they could potentially take over gap because of the the athletta brand. stuart: we'll take that, 6% gain for gap. $15 a share. larry kudlow was on the show last week. bold prediction about future growth for our economy. watch this. >> 20% plus growth in the third and fourth quarters. you can score that. and we're going to have a big bang year next year as the president puts in his free market rewards success policies. stuart: strong gains ahead says larry kramer. paul roemer, with us, world bank

chief economist and nobel prize winner. that is very rapid rate of growth that larry kudlow sees coming? you're on. can we achieve at that rate of growth? >> these numbers are presented in a very misleading way. the economy is operating below 90% of its capacity. if it increases up to say 93% of capacity, say, 94, that would be a 5% increase in one quarter. then acclaim claim that is 20% growth rate are. you're still operating 95% of the economy. still leaving the economy in one of the worst slumps in my lifetime. stuart: what is the rate of growth according to you in the third and fourth quarters of this year? >> oh, i think we would be lucky to have a positive rate of

growth. you understand, the virus caused this slowdown and the virus continues to ravage the country. remember 9/11, we lost 3,000 people? we lose that many every three days in this country. remember the titanic. 1500 people died. we lose that in day 1/2. you will not get a recovery in the economy until we deal with the thing killing so many people. stuart: we can't get back to where we were in january or february, because the overall size of the economy until we got, what a vaccine? >> a vaccine or another way to control the spread. testing and isolating would work to control the spread of this virus. just find out who is infectious, put them into isolation. that will stop the spread. we got to invest in testing if we want to do that. stuart: okay, but look, i want to make sure we're on the same page, everybody understanding what is going on here, we are expanding the economy correct? we hit a low in the

second quarter. we'll move up from there in the third quarter, move up some more from there in the fourth quarter and as larry kudlow says, strong growth next year. we're all on board with that, right? >> first, you got to remember, we're recovering from a very deep recession, close to a depression. so we're not even, we're not even close to getting back to normal. we're getting a little bit less depressed. the other thing, the core competence of this administration is dishonesty. i wouldn't pay attention to anything like kudlow says. stuart: that is bold statement. the core competency of this administration is, what did you call it -- >> dishonesty. oh, yeah. stuart: you can't believe something from somebody like larry kudlow? that is a hell of a slam, paul. >> just trying to tell you the way they operate. i don't pay any attention to kudlow says. no serious economist, by the way kudlow isn't a economist. the reason this administration

can't hire a real economist they only hire liars for hire. you get people who will say whatever the administration wants. but you can't get credible people. so i don't pay any attention to what kudlow says. stuart: i'm going to leave it right there because that was really insulting for many of the people who serve in this administration. you have branded them as flat-out liars. >> liars for hire, yeah. stuart: no, no. what you're say something really rather insulting, paul. you know. liars for hire? are you calling larry kudlow a liar? >> yeah. of course. he will say anything that will help this administration. stuart: kevin hassett, a liar? >> i feel in fact. stuart: kevin hassett is a liar? >> they have to just, they have to, look, if you want to hear somebody who will tell you things that aren't true, that make you feel good get one of the liars for hire. stuart: what was the lie from

larry kudlow. what was it. >> look at -- stuart: wait a minute. i played the sound bite. 20% growth third and fourth quarter is that a lie? >> yeah. first look. stuart: why is it a lie. >> it is already a lie because he is presenting these quarterly growth rates on annualized basis. stuart: that is statistics, paul. it is not a lie. >> 20% growth for two quarters in a row. you can't do that. is only growth rate you can get in one quart. even that isn't going to happen because nobody addressed the fundamental problem which is causing the slowdown. you can say you can cause growth without even talking about the pandemic. stuart: so it is a lie to forecast growth which you're not sure will actually hit? i got to end it. i'm really out of time. and i got to tell you, paul, i really don't like people who appear on this program being called liars by someone like

you. i don't like that. >> think about interview stephen moore next. stuart: i don't think you should do that i will ask him. i will ask him. he is on the show. i will ask him. paul romer says you're a liar. i will ask him. >> liar for hire. stuart: liar for hire. thank you, paul. we appreciate it. we may see you again. okay. better calm down. we've seen some colleges reversing course on inperson classes. grady trimble with us. have we got problems with k-12 reversing course as well? >> it is already happening in some states like mississippi, georgia, tennessee, indiana, and in some of the private schools here in illinois it's happening as well. this school opened for in-person hybrid learning last week. by the end of the week, they had two cases of coronavirus at the school, then had to switch back

to full remote learning. the concern is as schools go back to in-person learning will happen even larger scale what we've seen with colleges. it will be very disruptive for parents. we talked to a parent from indiana dealing with it. his kids went back to in-person learning. he work as full-time job. they had to switch back to hybrid and remote learning. parents should familiarize themselves with their kids curriculum, they might have to switch back even if they're going back to the classroom, listen. >> i definitely wanted them to get back into school but i think it is disruptive obviously in k,eeut0 1 day d inoreek, out d ndinpeg winghog'rhoeou're aroun, hap hns hns tac fy. er: in: : its offff dhe cdcsss slschoolsoolshoulch s expectexesex and and shouldotot weverwe uveltimveately upy up te schoolsc districtr. schoolschhemsheelsel or o ate to makak tha t t d d d

stuart.. so we w cou wou w see seehi srtp process as schools start to reopen in just a few weeks. stuart: that's really not good news. all right, grady, thank you very much, sir. real estate, yeah, i believe it is booming. it's a bright spot in the economy. i will ask our real estate guy, mike aubry, is this a seller's market. i really think it is. the mike trout baseball card on your screens sold for nearly four million dollars. the man behind that record breaking auction price will join us next. it's easy to get lost in the economic uncertainty.

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they've really stood the test of time. much like these majestic rocky mountains. which must be named after the... that would be rocky the flying squirrel, mr. gecko sir. obviously! ahh come on bullwinkle, they're named after... our first president george rockington! that doesn't even make any sense... mr... uhh... winkle. geico. over 75 years of savings and service. stuart: still plenty ever frein on your screen. dow, s&p, nasdaq on the upside. look at zoom. they're in the middle of a partial outage. the stock is now down six bucks. they are, we're told, working on

the outage. here we go, the mike trout baseball card on your screen. it sold for $3.9 million. huge number. look who is here, the man who auctioned it off, ken golden, founder of golden auctions. ken, that, you weren't expecting to get nearly four million for it, were you? >> i believe when i was on your show a few weeks ago we were hoping it broke the record of honus wagner which was 3.1 million. anything above 3.1 million i would have been thrilled with. when you talk four million dollars for a baseball card produced in 2009 which is right here, it, how can you not be thrilled with the price? stuart: you see i can understand how a honus wagner card from 100 years ago would be worth a great deal of money but this is a brand new card. okay, autographed, but it is a brand new card. does this set off an explosion in baseball card values? >> it has. i mean it, was really, it really, has been starting over the past couple years, but the

key with this card, it is one of one. they only made one special mike trout rookie. it was the golden ticket randomly inserted this is really what is happening. it is systemic of my business. a month ago i was on your show talking about a record lebron james card sold for 1.8 million. that was the highest card. now we have a mike trout card produced in 2009 and that sold for close to 4 million. that is the most valuable baseball card of all time. what has happened is a ton of money is coming into the sports trading card market market for alternate investing and things like that. the market is not prepared for it. there is limited number of high value, key elite products and the demand for that product is far outstripping the supply. i think it will be tilted as a, really as a sellers market for the next, three, four years. stuart: the seller of the mike trout card, did that person

originally buy it as an investment and can you tell us what they bought it for? >> yes. i can tell you that individual purchased the card in 2018 for $400,000. stuart: very smart. >> like buying a zoom stock or something. stuart: not that good. was the buyer a person or institution? >> the buyer was an individual. stuart: out of sight. ken, thank you very much for bringing us all this great stuff over the years. we really appreciate it. you hit the jackpot with that one. you really did. >> thank you, stuart. i love coming on. see you soon. stuart: see you soon. thank you very much. we've got, a call it a host of celebrities on their way to new york city to perform at the mtv video music awards. guess what? they will not be subject to new york's quarantine mandate. what's up with that? we'll tell you all about it, at least. do you have a gym membership? will you go back to your gym if

and when it happens? here in new york city, you can't go back. the mayor won't let you. i don't know how they will survive. we'll teal with it after this. ♪. robinhood believes now is the time to do money. without the commission fees. so, you can start investing today wherever you are - even hanging with your dog. so, what are you waiting for? download now and get your first stock on us. robinhood.

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stuart: look at this. we've come back strong. the dow is nearly up 270 points. here is couple reasons why. there is good virus news, treatment of the virus, all good news there on the vaccine as well. but boeing and apple, both of them are dow stocks. apple is now up a buck 93. it had been up much more than that. it was contributing a lot to the dow's gain. boeing is up nearly 5%. that is a dow stock. that is helping the dow move up. 270 now on the dow industrials. let's turn to the subject of gyms as gymnasiums. in new york state, yeah, they're open with some partial capacity problems but in new york city no, you cannot open your gym. the mayor de blasio will not let you. gary bass is the cofounder of 1000 island fitness center. gary, welcome to the program. i know that you're struggling f

you're not allowed to reopen fully, can you survive? >> our facility, the way it is structured, we can survive. we can get by but that is not what any of us went into business for. we went into business to make money and earn a living. stuart: so i think a lot of the fitness business has left the gyms and gone to home gyms. am i right? can you really see it all coming back to? >> no, i can't see it all coming back. in fact, you know, a lot of people have probably found ways to adapt to working out at home, however, you know, anybody that has ever used a gym know that you're not going to get the same quality of a workout, just a different environment. it is a very inviting, you know,

it's fun. people love it. stuart: you filed, i think a class-action suit against the governor of new york state? >> yes. stuart: said his executive order is unfair. i got that. what do you hope to achieve? >> well this lawsuit was organized by charlie casera and new york fitness coalition and they have done a great job. they did, organized a gofundme page and we were able to secure a lawyer to start this lawsuit and the reason why even announced that he was going to open gyms was because, on thursday we were supposed to have the judge review all the case and there was no way he was going to win. so he was staring down the barrel of this class-action lawsuit. he knew he couldn't win. he knew he would look like a fool in the court system. stuart: the way things are going, as you look down the

road, can you see yourself staying in this line of business? >> yes. and it is only because i love it. these bigger gyms, you know, that have been restricted so much, have such a high overhead, i don't see how they can survive with 33% capacity and, and all the restrictions, you know that are in place on gyms. stuart: just not fun in a gym with a mask and distance between you and everybody else, is it? >> it's going to be difficult. i think that, for the most part anybody that wants to work out in a gym will just use it as another challenge and adapt to it, but there are some people that won't come back because of the masks. stuart: yeah. bad news indeed, but look, gary, thank you very much for being on

the show with you. with us today. we feel for you. love to see you get back to full-time operation and we hope you can do it. >> i appreciate it. thank you very much. stuart: thanks for being here, man, thank you. new york city restaurants, they're in just awful shape. lauren, tell me how bad it is. lauren: really bad. in fact they have no idea when they can reopen for indoor dining because new york city mayor bill de blasio has no plan for more than 25,000 city restaurants and over 300,000 workers. he has bluntly said, stuart, he cannot say when indoor dining can resume. he has given no guidance on any rent relief or other stimulus measures. in the meantime that they would need. 100 restaurants in staten island and brooklyn, two boroughs of new york city. they are planning a class-action lawsuit to force the city to allow them to reopen. did you hear this? that was the mayor of new york. the governor andrew cuomo

continuing, should we call it war on fun? if you go to a bar, you cannot dance. if you have a wedding, you also cannot dance. you can't play darts at a bar. no comedy shows. no karaoke. if you go to a bar you have got to eat there. critics say these rules are more deadly and dangerous than the virus itself. stuart: 1600 restaurants in new york city have gone out of business permanently because of the shutdown. lauren: yaw. a lot of them don't have the ability to have big outdoor operations to make up for lost sales. there is no huge parking lots in new york city where you can put up a tent to just allow people to eat. stuart: that's right. that's right. what a situation in new york city. you try to bring the thing back -- lauren: i know. stuart: any moment now we'll show another shot of sixth avenue deserted at 11:00 in the morning on a monday. look at that look at that. nothing there. normally traffic jams, sidewalks

clammed with people. nobody there. hopeless. look at the market again please, the s&p and nasdaq hit all-time highs earlier today. we're following this for you. it is all about your money. coming up next, "the next revolution," the host, steve hilton, he sat down with the president recently. he will bring us the highlights. plus you will have my take on joe biden's economy if he takes office as president. he says he would lock us down all over again if there is a second wave of the virus and scientists tell him, national shutdown. 30 hour of "varney" just ahead. 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.

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stuart: the market still showing gains except for the nasdaq, the dow is up 242-point, the nasdaq is down six and i will tell you why. some of the big techs are really pulling back, notably apple, it hit an all-time high earlier ahead of the 4 - 1 stocks, now it's all the way back to 496. i remember seeing around 510. it's been pulled back in the nasdaq with it. astrazeneca, that stock on the upside, 1.5% higher, president trump is considering fast

tracking the virus vaccine to put in use before the november election. we are watching two popular storms, turning in the gulf of mexico, we have an update on those coming from janice in just a couple minutes. there is an update. in this raking, tiktok, suing the administration, what are they complaining about? >> they are challenging the trump administration effort to ban tiktok in the u.s., they say 100 million americans are turning to our app, for entertainment connection particular during the pandemic, they also say this, key personnel including the ceo and others, they're all based in the u.s. and not subject to chinese law. stuart: i was trying to talk to the producer, i do apologize for breaking in. >> they say they respect u.s.

law, user data for americans is served on servers in the u.s. and in singapore, they are challenging the trump of administration. stuart: got it. thank you. sorry i interrupted you. all right everybody, now this. stuart: joe biden would shut down the economy again, he would order a new national lockdown if the scientists told him it was necessary. i would do what it takes to save lives he told abc news, i would listen to the scientists, okay think about this, he would turn over the government of the united states, turnover control of our everyday lives to a panel of scientists. even though the scientists have been wrong in the past and even

though they are often divided in their opinion, they get to shut us all down. perhaps joe was speaking off the top, that's always dangerous, he did not think this through, scientist cannot tell him the financial cost of shutting down the entire economy, it's into the trillions of dollars and that has to be factored into any shutdown decision. it has nothing to do with the scientists. the site to his cannot tell him the human cost, were already getting a surge in domestic violence, substance abuse, depression, mental problems, delays in cancer screening, you lock us all down all over again in all of the above come right back, worse than ever, joe biden would do that on the advice of a committee. can you imagine the damage of a president biden or the 320 million americans to stay home and don't go to work, don't go to school. i'm not sure he could make it stick. he cannot do that to 20 million americans again. but the impact rate surely be catastrophic. 50 million out of a job in the first go around, a generation of youngsters did i do years in the first go round and we do it all

over again. because joe would listen to the science. the third hour of "varney & company" is about to begin ♪ ♪. stuart: we have lots of movement on the market first thing this morning. four straight weeks of gains for the s&p and the nasdaq and we just turned positive on both again. all the sudden we have s&p up 21 and the nasdaq up 30 and a 260-point gain for this. we have ubs saying that six and half% of the s&p 500 return since may is due to promising vaccine news. we do have promising vaccine news. david is with us today. you say a vaccine is crucial to keep the market evaluations where they are now? make your case please.

>> definitely, the vaccine will be crucial to getting the economy back to full strength in the markets are pricing in some probability as exhibits s which is understandable because we have good news but we don't have the final approvals yet. but we do think we will get them probably before the end of the year and once we do get the approvals, the market will have a full normalization of activity and that unlock them for the u.s. stocks. stuart: unlocks further upside for u.s. stocks, would that include the all conquering five big tech stocks? >> i think actually the beneficiaries of fully getting back on our feet. the big five tech stocks and in general that have benefited from

the stay-at-home trends, if you get the economy back to firing at all cylinders, i think some of the areas that have lagged in this market probably have to go for ketchup, i expect to see broadening out in the market performance of reducing successful. >> and put you in a difficult position. you have to look at where you think the market is going into depends heavily on the success of a vaccine and you gotta make a judgment of whether this vaccine or that vaccine can be a success and does work and can be distributed and manufactured. you have to make all of those decisions or judgments i should say and at this moment your judgment is we will get a vaccine before the end of the year. yes will get ineffective treatment. >> that is correct, we have five vaccines now in the final clinical trials, called phase three and at this point we're waiting to see how many people want to get sick as a result of getting the vaccine and if you look at the earlier data for the five therapies, it was pretty

promising. you had a very good immune response from all five of these so we feel pretty comfortable that at least one of these will prove effective and we should get that before the end of the year. and if you look at the broader pipeline, 100 plus therapies that are behind these five, there is a lot of shots on gold and we feel pretty comfortable by the middle of next year end vaccine will be widely available in the united states. >> david, thank you for joining us this morning. very interesting. goldman sachs out with a prediction about layoffs, lauren what is the prediction? lauren: 2 million jobs on the line for next year, joblessness lingers into 2021. a quarter of temporary layoffs will become a permanent layoff, it's not all bad news, let me give you the good news, rehiring will continue to drive the job games this year they're predicting a net 5.6 million jobs added but next year is the

problem, goldman is expecting 2 million workers to still be unemployed so the longer you are out of work, the higher your chances are i'm not going back to work. businesses closed and have not announced plans to reopen, what are the chances that it actually does, that's the translation in my view. stuart: 2 million expected still unapplied net year. look at some of the airlines, american airlines, heads up. the epa's improving their new surface procedure, tell me more. ashley: at least i'm not doing my hair i don't dare touch my hair because it bites. i'm just looking at the latest tsa numbers, not good, the virus killing story by the way all about trying to provide confidence for people who up to this point have decided there's no way i'm getting on an airplane.

the biggest problem, the capacity is being reduced so much that people have crowded on in many cases the middle seat is full and i'm talking about that with my wife this morning. she's like no way am i going to get on a plane that tack like that in the tsa screening, sunday 844,000 went through screenings. that is not bad when you get back into the 800, it is sad to say that is not bad but still 1.6 million less then the same sunday last year. so we did see an uptick in people traveling biplanes but we've seen the uptick stall as we see the cases arise. stuart: got that one. i'm also seeing, the tsa says they collected nearly $1 million in spare change at airport checkpoints, and you got that story? ashley: i don't, that's a great story, that is fun.

let's face it there's a coin shortage around the country, we know that and now we know where it went. stuart: 926,000 collected. extraordinary stuff these days, you never know what you're going to read on the teleprompter. thank you. zoom, your back on this one, what do you got on zoom? ashley: i am not done yet, you cannot get rid of me. we reported earlier this morning, partial outages, not only the u.s. but around the world, the latest from zoom, they managed to fix it but some users are rolling out for those that are impacted, the bottom line people tried to join a zoom meeting or webinar and could not get access, really bad news for zoom the stock is down 3%, still up 300% for the year, this is definitely a hiccup because so many people these days are on a zoom meeting as if they work from home, it's become accommodate thing, every day,

this is not good for zoom, we had the zoom bombing early on and now a little glitch today and hopefully they can continue to get that fixed out there. stuart: good stuff, thank you, sir, were going to take you and show you charlotte, north carolina, the rollcall has begun, several states averting pledge their delegates to the president. alabama, alaska, arizona, arkansas, going in alphabetical obviously, we expect to hear from the president what denomination is official. we will show you then. president trump warns, china will own our country if joe biden wins the election. watch this. >> china owns joe biden, they own joe biden, they own him and they want me too lose so badly. stuart: now the president says he is open to severing ties with china, we've got more on that coming up for you. joe biden says he is prepared to

shut down the country for a second wave of the virus. talk about a disaster. look no further than absolutely deserted times square. we keep showing you this. ♪

>> in order to keep the country running and moving and the economy growing and people employed, you have to deal with the virus. >> if the scientists say shut it down. >> i would shut it down and listen to the scientist. >> you heard him say it, shut down the economy, 100% shut it

down, national lockdown if the scientists tell them to do that. i am astonished by that quite frankly. i expect stephen moore to be equally honest. he's a recovery task force, since when would you handle the authority of the entire american government in our everyday lives to a committee of scientists? that is outrageous. >> this is the first major major gap by joe biden. it expands by the way where they've kept him in the basement not coming out because this was a very, very stupid thing for the presidential candidate of the democratic party to say we had extremes with lockdown. it did not work, look at what happened in new york and new jersey and connecticut that have the strictest lockdowns, they had the highest death rates. and what he is essentially saying, were going to take a failed policy and were going to do it again, that's like saying get back on board.

i think one other point, since trump and mostly republican governors started reopening the economy back in may, we have created nine-point to million jobs, non nine-point to million. what biden is saying, let's go back to the old policy and none of the nine-point to million americans would have a job, incidentally one quick thing, there is a lot of damage that is done, not just to the economy but to the health of the american people of locking down the economy, we know people did not get cancer screening, we know there is a huge increase in depression, isolation, child abuse and all sorts of other pathological problems that have been associated with locking down people and keeping people isolated. is joe biden saying the american people, i would want to do that

again. stuart: i think it's a major mistake and i think absolutely right, the wall street journal said that, you're saying it, i'm saying it. a huge gasp. earlier on the show today, the economist paul roma had very harsh words for larry kudlow. watch this. stuart: sometimes on television, that kind of thing happens. earlier today we had an economist on the show, paul ro roma, he is a former -- we have the sound back that i wanted. play it now please. stuart: when it you know it, when things go really wrong on television, you laugh. you don't cry or lose your temper. although one might like to pre-here's what happened. paul roma said that larry kudlow is a liar for hire. he said that was true of all the

economist that the administration had brought in including you, liar for hire. would you like to respond to that. on a record, we have the best economy and 30 - 40 - 50 years, before the pandemic, like people like all of the obama people said it would never work, remember, they said the tax cuts would not work, the deregulation would not work, they said you could not bring manufacturing jobs back, you could not bring construction job in mining jobs, all of that happened, we created a million and a half manufacturing and mining and construction jobs by the beginning of 2020, we have the lowest unemployment rate in 50 years, the biggest black and hispanic wage gains under trump in the first three years, bigger wage gains in the first three years under trump another eight

years under obama, i could go on and on, the american people understood that what we are doing is working, now we get hit by a pandemic in the question americans have to ask themselves is the reason i think trump is going to win is which of these two candidates have a better economic program for getting us out of this crisis, today as you know, donald trump released a plan to create 10 million jobs to continue the tax cuts of deregulation, the exact opposite of what joe biden is saying, he thinks he will create more jobs, more regulation, strangling the american industry, this is for the american people to decide, my own opinion it's not a tough decision. trump has shown he can rebuild the economy, i think you will do it again but by the way name one thing. that the democrats said at the convention last week that was pro-jobs, pro-growth, was about redistribution, about climate change, it was all about other issues unrelated to getting jobs in american industry back.

stuart: i am shocked that the harsh language being brought up. >> it shows they are angry. stuart: they are desperate. >> there catching up very rapidly to biden in the polls, we now have a horse race all the way to the finish, the democrats for three or four weeks thought they had this thing wrapped up, they were measuring the drapes in the oval office and now their candidate is stumbling again and again, and again, and i think you're going to see a close race and that makes liberals very nervous, they so desperately wanted to beat trump, he has to run on his economic record and if he does i think he will win. stuart: thank you for joining us, thank you very much. let's check individual stocks, i'm looking at michael's, the craft store chain, they hired a new cfo, michael diamond previously worked at pizza hut and evidently market likes this new guy, the stock is up 7%.

grocery outlet, i would not call it a pandemic winner, profit of 82% from last year. by the way earlier this morning i spoke to the ceo about how come they were so successful. rotate. >> it is definitely a bind model, people were looking for value but more so with operator, the independent operator would put them into business, put them in a location and asked them to think hard about how they communicate and work with their communities. they were really responsive, they stayed open if they needed to stay open and connected to the communities when they needed to enable to resupply. stuart: grocery outlet is a discount of major food brands, still on that subject, how about home cooking, apparently some people are suffering from something called cooking fatigue. lauren, tell me more. lauren: slaves to the kitchen, i closed the kitchen, 930 every night, i'm done, number snack,

whatever you eat is what you're getting for the rest of the night. 55% of people say cooking at home has caused them fatigue, the average person has made the same meal 20 times since a pandemic, we have fewer options, limited trips to the food store, i left all my creativity, and makes sense but take-out is booming since april, grub hub shares are up 87%, domino's is up 37% since april, i look at these meal kits, hello fresh, blue apron not so much. they are down 29% since april. one of the issues is, they had to cut their menu because of the pandemic and yet demand is there but whatever you order from blue apron you still have to cook and then clean up at home. that could be annoying after months and months of this. >> we used to say what are you making for dinner and someone with a reservations, we cannot say that anymore you got a get

home, that is it. thank you lauren. news on football, the miami dolphins and the university of miami will allow fans are games. why is everybody not happy about this. >> there going to allow 13000 fans at hard rock stadium in miami, that is about 20% of the stadium 65000 capacity and they share the stadium with the miami hurricanes who will also follow the lead of the dolphins. the first team that miami plays a home with the buffalo bills and the bills coach was asked about all of this and he's not a happy man, he says the nfl has no consistent rule, it's up to each nfl team of what they believe is appropriate for them and you go on the road and go to some stadiums and you have to face the hostile home fans and then you go somewhere else and there are no fans.

obviously he is not happy with this but miami says they do give it a long look and they believe they can safely have about 13000 fans in the stadium for every home game this season. stuart: it's not the same without the fans come i would love to see some of them come back. travelers from 33 states are required to quarantine for two weeks after arriving in new york unless of course, they are celebrities. the mtv awards show will be exempt from the rules, does that prove it's a political stunt in the first place, we will discuss it, the gulf coast bracing for two powerful storms. watch this please. >> were looking at a one-two punch, were going to get a right hook from marco and a left hook from laura. stuart: janice will have the latest on the storms track after this. ♪ this is decision tech.

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>> china owned joe biden, they will have a billion and a half dollars, his son with no expense, no brainpower, and never did it, not only ukraine, hundreds of thousands of dollars a month from ukraine in a $3 million upfront payment and

with china, he walks out with a billion and a half dollars to manage, that means millions of dollars a year in fees. it is ridiculous. by the way, they owned joe biden, they own him and they want me too lose so badly. stuart: there you have it, president trump he sat down with steve hilton, this is on sunday night, he said several times, china owned joe biden. steve hilton is with us right now. spell it out, it looked to me like joe biden, president trump was bringing biden's china connection right into the election, that's what he was doing really. >> absolutely, he was making the issue of china, a huge election issue from both perspectives, of course drawing the contrasting terms of joe biden position and the fact that he has been soft on china for so long but just as interesting, the president talking about his attitude to

china if he is reelected, i said look, you're going to be more tough on china then you been up until now given everything that's happened with the coronavirus and he said yes, i pushed him further and said what about the idea of completely disengaging and the president interjected the word, he said decoupling, what about that, decoupling our economy, as you can guess the answer to that, yes i would go in that direction, i thought that was really interesting in the sense of china becoming one of the most significant in the election it affects the economy and you see that reflected in the republican policy program wish under which they published last night and bringing back jobs from china. >> china is going to be a focal point in the selection, it is about jobs in america in the china virus as the president calls it, we want some accountability with that. i think what you did there in the interview, you brought up

the importance of china and biden in the selection. i'm going to move on to the california wildfires, i think it's a million acres burned at this point and i believe california governor blames climate change in president trump, you're a california guy, that's where you are now, what is your response? >> it makes me so angry to hear that, we also think california, were right in the middle for the last week, you got side and you have the big smoke every day, many days we literally had ash falling like snow, it's just up the road in the bay area, to blame climate change for this is completely to help solve the people who have been in charge in the state, democrats four years without in to the mismanagement and the policy failures that have of course, yes they were lightning strikes, just over a week ago, yes we had a hot weekend, that does not have to turn into the wildfires,

why do we have the wildfires, for years, they mismanaged the forest, how have they done that, by refusing to follow the recommendations made by previous and former governor jerry brown to clear forest, declare undergrowth going around the rose claim and the normal management is adding toward the total that they are promised to do in terms of clearing the forest, they are not doing what they promised and that's what's causing the wildfires, yes we can have hot weather all the time in the summer, other states have hot weather, they don't have these problems, is it because of the failures of democrats for years on end. stuart: i keep saying that california is in crisis mode and they are suffering from self-inflicted wounds. you agree with that? >> i completely agree, it's a wildfire, the blackouts because their stupid energy policies, the homelessness, the rising

crime and the fact that we have the highest poverty in the country and the highest taxes and by the way you talk about self-inflicted, you know what's coming next if joe biden wins, this will be inflicted on the rest of the country through importing the california chaos into joe biden's campaign in the form of kamala harris. stuart: your steamed, i tell them were glad to see it. by the way, we are going to be watching you on "the next revolution", sunday evenings 9:00 p.m. eastern, that is on the fox news channel. thank you for being with us, great interview with mr. trump. stuart: celebrities attending the mtv music awards will not have to go through newark's mandatory quarantine. how come celebrities are getting this past. lauren: because they are celebrities. the vma's are on sunday and that the most layouts to no crowds. you got that. the new york post is reporting that lady gaga, ariana grande,

miley cyrus and others will perform and they don't have to arrive to new york 14 days early to follow the quarantine mandate, there getting an exemption by the new york state department. this is unlike 415,000 other travelers who have reported their troubles and adhere to the guidelines, the celebrities do not have to do so. the new york city police department will be on site and watch the performances and the rehearsals and make sure everyone is social distancing and the like in their increasing testing, the vma's of the celebrities, they would've had to do the 14 day quarantine and they would've had to arrive last week. stuart: i would like to go to florida and i would like to come back but i cannot without going through quarantine. it's an endless problem here in new york. thank you lauren, thank you very much. new tendo is getting a boost from robin hood day traders. you gotta tell me about that.

stuart: it's been one of the best-performing blue-chip stocks in japan. this year, one because of the pin democrat everybody's claim video games and they had a smash hit, animal crossing new horizon, the shares are up 70% from the march low and among those who use the robin hood app, it is a very popular stock to hold. is not number one, sony is number one and then we have nintendo number two and number three is softbank and also nintendo may be releasing a new switch console early next year, that has given the stock market tension as well but for the younger day traders on robin hood, nintendo is a favorite in japan. stuart: got it. thank you very much. were going to check zoom, suffering outages this morning, those issues have been resolved

and the stock is still down ten bucks, that is 3.7%. airbnb bans parties worldwide, trained to stop the virus from spreading. once more it is banning short-term rentals altogether claiming that they cause chaos. we are going to take you there coming up next. ♪ ♪ ♪

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delegates, 172 for donald trump. stuart: as you can see right there the rnc roll call is underway, very soon florida will cast its vote for president trump pushing him over the edge to win the official republican nomination. let's bring in florida senator rick scott. it is almost florida's turn, there are three more states than florida then he is over the top, my first question is this, will president trump when the state of florida in november? >> absolutely, here's the reason why, if he cares about the economy, it was to get the economy going and we know the president can do that and he cares about law enforcement, he cares about our military, he cares about holding cuba accountable in those issues by themselves, he will win florida but on top of that he's held

china accountable in so many things in joe biden is a public for the right or the left. stuart: the president releases second term agenda. what stood out for you, what in particular are you looking at in the next four years? >> i think we gotta get the economy going and we know he could do that and he continued to redo reform and cut taxes and support the military and continue to hold china accountable, what he is doing or what he will do is exactly what america needs and we know the contrast is, joe biden has had 50 years to do something and he has not done anything preheat the career politician which we don't want career politicians. i one mining trump won his because he was not a career politician. americans don't believe in medicare for all because we know it's going to be medicare for nine and they don't believe in socialism in the green new deal,

they don't believe in free power, sounds good but 70 has to pay for this. so i think it's good to be a great contrast, i think president trump would do that and have a big win in november and have more success over the next four years. stuart: i'm sorry i'm not hearing you really well. i'm going to cut this short but i'm doing it quite deliberately because we have one more state after the gentleman who is role calling for his state right now. one more state and that will be no brassica and then i believe it is florida and you're going to put him over the top. let me listen to the roll call. can we bring up the sound from the rnc please. >> we love the second amendment and we love you president trump. montana affectionately and enthusiastically gives its 27

votes to president donald j trump. god bless america. [cheering] stuart: that is the podium shot. next it is nebraska, the introduced as we speak, we will listen to that for a moment and were getting really close to florida nebraska here we go. >> 36 president trump. >> madam secretary great to be here with you today. i am dan walsh, chairman of the nebraskan republican party, nebraska is the big red state and home to some of the greatest people in the world. i am joined by some of those people, national committee man, national committee woman lydia rush, i'm also with delegates, fellow delegates, cindy allen, rod smit and teresa. on behalf of them, great nebraskan republicans and our

great governor pete ricketts in my little republicans at home, three and four years old we are doing this for them in their future. i can 36 votes for the current and next president of the united states of america donald j trump. [cheering] >> madam secretary, madam secretary, the chair calls for temporary suspension of the roll call. the chair recognizes governor scott walker from the state of wisconsin. stuart: there is a temporary halt in the roll call as you hold right there. wisconsin is going now, i believe we are waiting on florida, florida will be the state that puts the president over the top in terms of number of delegates. he needs 1276.

when florida comes on board and nominates all the delegates or most of them to go with the president, he will be over the top and hit the 1276 mark and that's what will happen. as we wait for that to happen, i will tell you that the stock market remains very strong, we have good news on viruses, vaccines and treatment, the plasma treatment and the vaccine from astrazeneca which is being fast tracked to be in use before the election, that is very important news, dow industrials of 280 points, the s&p is up 25 points. i think that's an intraday high for the indicator, the nasdaq composite has reached 11370 went up another 59 points and look at the dow, 28200, big tech did very well at the opening bell, fell back and now coming on strong, in particular you got apple doing well, microsoft recovering nicely, amazon is up, big tech leads and so to the travel companies.

we got cruise lines, airlines, doing well because of the news on vaccines. to the right hand side of the screen, that is air force one arriving in charlotte. that is where the convention is taking place, it's in real life, it's not entirely virtual we understand that the president will probably, not for sure go to the convention, meet and greet some people, they have suspended the roll call allowing former governor of wisconsin scott walker to make his remarks which he is doing and i think they are delaying the roll call, it's all about timing, they want to wait for florida to come on board and put the president over the top, i don't think they're going to wait for the president to get to the convention hall although that's entirely possible, i don't know that for fact, they're waiting for florida. the rnc promises, a big

surprise, big review every single day, one a day, we are not told what the big surprises are going to be, i've asked everybody that i know, nobody will tell me, you have to stay tuned to watch. the bottom line, the republicans have started their national convention, they started with people in the convention hall, 336 delegates either permitting themselves to trump's presidency into his reelection, that is what is happening in charlotte, north carolina as we speak. we have a very quick break, lot with the more after this. what do you think? i don't see it. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪

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almost done. what do you think? i don't see it. only pay for what you need. liberty. liberty. liberty. liberty. ♪ stuart: that he is vice president mike pence on the stage of the rnc. listen in. >> i want to think a great friend of mine. it was a great leader in the state of wisconsin and is one of the great conservative voices in our party today. join me in thanking governor scott walker for those wonderful and gracious words. it is deeply humbling for me too come to you on a day like today. i heard there was a unanimous

vote a little bit earlier. [cheering] and i have more to say about that at fort mchenry on wednesday night. but let me just say a moment like this in my life, i cannot help but think about the ancient words, who am i. and who is my family that you brought us this far, i want to thank you for the honor of this day. [cheering]

but i heard you were all down here in charlotte doing some business, beginning a great week for the republican national convention but i gotta be honest i'm here for one reason and one reason only. that is not just the republican party but america needs four more years of president donald . [cheers and applause] >> four more years! four more years! four more years! four more years! four more years! >> it was four years ago that all of you gathered here, made it possible for america to have a fresh start. you knew we could be strong

again you knew we coo be prosperous again. you knew we could have a president who put america first again and in 2016 you elected president donald trump to the white house. think of all we've done. we revived this economy through cutting taxes, rolling back regulations, unleashing american energy and fighting for free and fair trade. and after years of budget cuts this president rebuilt our military. we restored the arsenal, the democracy, we're once again giving our soldiers, sailors, airmen, marines and space force the resources that they need to defend this nation every day. [applause] we've stood up for the rule of law and for our most cherished liberties this president has seen with your support more than 200 men and women confirmed to our federal courts at every

level and they are all conservatives who will uphold the god-given liberties enshrined in our constitution, like the freedom of religion, the freedom of speech and the second amendment right to bear arms. [applause] and i couldn't be more proud to be vice president to a president who stands without apology for the sanctity of human life. [applause] but today is about four more years. this week we will take our case to the american people. we certainly heard the democrats case last week. it's remarkable to think, you understand when you listen carefully to their agenda, beyond the platitudes and the attitude, you hear an agenda.

that joe biden and the democratic party have before overtaken by the radical left. their agenda is higher taxes, socialized medicine, open borders, abortion on demand and cutting funding to the men and women who serve in law enforcement at every level. we're going to take our case to the american people. it's a case of lower taxes, free market economics, secure borders, right to life and we're going to make it clear that this president, this vice president, and this party will always stand with the men and women who serve on the thin blue line of law enforcement. we're going to back the blue. [cheers and applause]

>> back the blue! back the blue! >> i don't have to tell you here at the republican national convention the choice in this election has never been clearer, and the stakes have never been higher. we'll be taking our case to the american people this week but it will be you, and the millions of americans involved in our party and every state and territory of this nation, will be carrying that message to the phone lines and to the front doorsteps of the american people. it is a reason why i wanted to be here today. it's a reason why i got a good feeling you might just see a friend of mine at the republican national convention today. [applause] because we wanted to say thank you. we wanted to say thank you for all the work that