okay, now they're trading at $70 a share, up 35% from the offering price. watch out for those ipos, they've done pretty well this week. time's up for me. neil cavuto, sir, it is now yours. neil: all right. thank you very, very much, my friend. we are following unifew software very -- unity software very closely, it continues a theme of snowflake and jing frog among them -- jfrog among them this week. as stuart was pointing out, it's really a video game software provider here. it's a lot more than that, but it does everything, it could translate to any business. over my comprehension. the price around $32-42 a share, they wrapped it up 48-ooh 50, it

launched today around 77. around, you know, in that roughly about $1.8 billion offering here where the valuation of the total company, if you extrapolate that out, you're getting well into the $13 billion neck of the woods. so a very, very big development here. jackie deangelis is following it. this is kind of the rule of thumb, the vast majority have been of that ilk. but again much will have to change, and we'll see in the next few hours. not a bad launch. what are you hearing, jackie? >> not a bad launch at all. it came public under the ticker symbol u, neil, and it's trading higher by 35%. opening trade was $75 a share when it priced at 52. this is remarkable because the whisper number last week on the low edge of the range was $34. so you stand back and ask yourself what are investors thinking, especially during this time period of so much

uncertainty, you know, to be bidding up a stock like this, you know? this is a company, as you said, it's part of this video software chain, so it makes tools for the developers that then go design the video games themselves. last year unity tools were used by 1.5 million monthly users to create some of these games, when i kind of question what's happening here, i'll just remind you this is a company that isn't turning a profit. most recently it lost $163.2 million. its losses are actually not even going in the right direction because in 2018 it was $131.6 million loss which was less. now, you could argue that revenues are growing, so that's why profits are, or the losses are getting a little bit bigger. i'm told they sort of fine-tuned the business model. but what this really says is that the markets, while they've been volatile of late, they're still on high alert for deals, they're looking for them, even

companies that are losing money because the fed just said this week it's going to hold interest rates this low for at least three years. what else are you supposed to do, except to try to invest into the future? unity's ipo coming after more debuts this week, snowflake, jfrog, both i saw their the prices ratcheted up as well, and you can see some of the other companies that went public this week. we'll put those up for you. i think there were about 14 deals. the approximate value was almost $7 billion raised. that is a lot of money to go into this market, and it's the busiest week for ipos that we've seen since may of last year. i'll just finish on the final note here, u, unity raising about $1.3 billion at valuation of $13.7 billion. this is one we're going to have to watch and see if it was worth it in the long run, you know, on the first day pop you really can't tell. neil? neil: you can't. but i'm surprised some of the other issues, you know, that

they're holding their own, you know, jfrog, obviously, snow fake -- >> yeah. neil: -- that have not collapsed given their enormous runup the first day. jackie, thank you very much. want to get the read on this from gary kaltbaum, gary, i love to read your notes, and yours as well, katherine. one thing, grey, you had -- gary, you had touched on, it is what it is, but when you look at a snowflake or some of these other commanding names, they don't necessarily have to be in sync with reality, do they? >> yeah. and, look, i tell everybody who dare listen ares to me -- listens to me just three words, pick your poison and just know what you're dealing with. snowflake opens at a $90 billion market cap with $400 million in sales and $300 million in losses. something's going to give, and guess what? it's already down to $60 billion of market cap. all i can tell you is that we go into a bearish market, the

stock's $50. they're taking advantage of a very strong market here, and blame is put on the retail people or who are willing to pay up. but when all is said and done, i will promise you, neil, valuations will always count in the end, and i just tell people be very, very careful. you do not want to hand over $10 to somebody and get a dollar back. neil: well, there is that. you know, katherine, what's kind of interesting here, if you buy the fact that most of these successful upos, at least at the launch, are of a technology that usually some sort of distinction in that they do a lot of business in the cloud or up in the air, they've replaced sort of the juggernaut granddaddy technology, the apples, the amazons, the microsofts, to a large extent the facebooks as the new attention getters. i'm not saying there's a leadership change here. they need a lot more market heft to do that as far as the influence they would have, but

what do you make of that? >> i think it's more sustainability of leadership, neil. i think 2017 has been basically five tech names of that have led markets higher with more than 25% of s&p 500 market capp attached to technology sector. so as we get the new wave of technology advances, i think it keeps technology firmly rooted as the market driver going forward. and i would encourage our clients when we saw that, you know, 10% dip in technology last week to start accumulating. if you have some cash on the sidelines, the fact is, is that, you know, market, fiscal and monetary stimuli are not going anywhere. we've all been waiting for the dips, we find them as opportunities to really take some of that cash and put it to work. neil: right. you know, taking a look at some of the them, we're showing the apples, the facebooks, amazon, microsoft, with the exception of

facebook kind of taking it on the chin, they've had a rough ride i believe is the case with most of them, at least 10% from hair highs. it's been a bumpy ride, and we should still stress that the s&p index itself is up, i believe, north of 30% all of this year. so how do you play technology, gary, in the aggregate? >> i can tell you, neil, that a couple of weeks ago i got out of technology, and that's where i usually invest. i think we're in a correction mode right now. it just needs to. the amount of move that we have seen in some of these names are good for two, three years that happened in three months. i still love all these names. i think microsoft and facebook and apple are going to do great things going forward. they are juggernauts, they are category killers. just there are moments in time where e where the market deems they got overheated, overleveraged and overloved, and now the leverage is going to come off, and i think we have

some more price in time as they pull them back. unless the market really takes a bug hit, i will be buying them on the way down. just not yet, i'm patient here. neil: you know, katherine, 2 p.m. the president is likely going to be talking about, among other things, vaccines and very optimistic one could be had by as soon as next month. i think dr. fauci was on the wires earlier -- i don't know where he was speaking so i apologize -- where he thinks something could be available by the end of the year. i'm just wondering, let's say a vaccine's out, then what? what do the markets do with that? they've been bidding up prices, recent week and a half not withstanding, on the prospect of one. what do they do once they get one? >> good question. i think a lot of guidance likes to sell, right? there's going to be a lot of volatility, i think, in the coming few months attached to not just the vaccine, which i

think we've all been anticipating, right? this shouldn't come as a surprise to really anyone. i think you've got to consider the percentage of people that are going to opt to take it, neil, because that's not getting a lot of coverage, and there's a lot of skepticism with regards to the vaccine wherever it comes from, whenever it comes. the next thing i would say is, of course, elections. if we get a democratic sweep, a blue wave, then i think we should expect technology to take it on the chin, health care to take it on the chin and potentially energy as well. so these sectors that we're all positive with right now, we have to realize that higher taxes are coming, right? more regulation is coming. that's just what we'ring being told is in, is in the offing. so if we get a democratic sweep, i think that you're going to see declines in those sectors specifically. neil: all right. guys, i want to thank you both very, very much. and, again, this issue we raised with the vaccine, whether one could be coming out sooner rather than later, remember,

there are a number of players that have a promising sort of a liftoff here. the latest is the deal the e.u. has struck with sanofi, a vaccine that could be certainly ready there, a lot of financial muscle behind that. we also have astrazeneca, remember it was delayed in trials, but it is back on now, we're told. whether that means one would become readily available by the end of this year is anyone's guess. pfizer working with biontech and moderna, of course, with its own drug. these are the big four, being told to concentrate on, tomorrow on my weekend show on fox news we're going to be exploring all the different possible vaccine possibilities, what gets the most attention, how will it go if it happened, what's the procedure for who gets it and when. you know the drill, usually health care workers, the you would orally, those are vulnerable -- elderly, those with vulnerable conditions. back and forth on this, people saw sinister intentions and only

the rich will get it, but i thought we'd devote some time to that tomorrow, 10 a.m. eastern time, who gets what and when it comes out because increasingly it looks like something's in the offing and maybe sooner than you think. we're also on two big developments on capitol hill, one to keep the government lights on at least through the election, and another, yeah, on stimulus are relief. the latter one does not seem to be going anywhere, but i could be wrong. chad pergram on what could be happening to avoid a government shutdown, whether the parties are coming together i guess on something, chad. what's the latest? >> hey there, neil. we should get the text of the band-aid bill to fund the government later today, the house of representatives is expected to vote on that next week, and house speaker nancy pelosi has been add plant she won't attach any concern -- adamant that she won't attach new coronavirus relief to that. red and blue are getting nervous

about not doing any sort of coronavirus bill before the election, among them is dean phillips, a freshman democrat from minnesota. >> and we introduced our framework just a couple of days ago. i think it's sinking in. i think conversations have been ignited, that was the -- that was our mission. i think this is just beginning. >> phillips won that seat for the democrats in 2018. he's working with republican members to um employer the speaker to move -- implore the speaker to move a narrow coronavirus bull before the election. pelosi has dismissed a bipartisan bill assembled by the problem solvers -- >> i made my statement. i respect what they're doing, i made a statement about it. as have our, as have our, our chairs. 3.4 trillion. remember, we've come down 1 trillion, ask is we met and said we'd meet them in the middle. so it this is not about being te enemy of the good. >> reporter: pelosi is still

pitching a larger bill, the biggest money for state and local governments and an emerging area is help for the airlines only operating at 30% capacity. layoffs are coming back at the tend of the month. alaska relies heavily on the airlines, and this is why gop senator lisa murkowski is concerned. >> as one who has no other choice in terms of getting home, i want to make sure that our airline industry, not only the passengers, but cargo carriers are able to make it through this really difficult, difficult time. >> reporter: now, democrats say that they're willing to do some add awed for the airlines, but the things they're worried about first is help for small businesses and also getting out unemployment checks. those are a-one for the democrats. back to you, neil. neil: you know, on the airlines real quickly, chad, i've heard

it would likely be -- if it ever comes to fruition -- like the $25 billion measure when the whole pandemic started. the airlines, obviously, want a lot more than that, but i'm just wondering will it be in that likely range? >> reporter: nobody really knows. i mean, we've had some meetings here with senators and also at the white house talking to airline executives, but if you don't have a bill, nobody the actually knows what that figure will be. neil: yep, there is that. chad pergram, thank you very much, following these twin bills. your attention on something to keep the government lights on and avoid the shutdown certainly before the election. less likely is that stimulus measure, repalins and democrats -- republicans and democrats far apart. but you never know. things can change, often do. on the corner of wall and broad right now, we're keeping an eye on the video game software maker. it's a lot more than that, it uses that technology in all sorts of technological initiatives on the part of companies, a who's who of

fortune 500 backers. but nevertheless, that technology theme really putting it together for unity. it got close to $77 a share, it is well over its offering price of $52. and remember not too long ago, a little more than a couple months ago, they were hoping in the range of $34-40, $42 a share. a lot more than that. more after this. ♪ still your best friend. and now your co-pilot. still a father. but now a friend. still an electric car. just more electrifying. still a night out. but everything fits in. still hard work. just a little easier. still a legend.

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neil: all right, take a look at unity software right now, the video game software provider, verying very active in the cloud, on the internet, that sort of thing, and it is the sort of ubiquitous thing that it can take that technology -- whether you're in gaming or not -- and transpurpose -- such a word? i think repurpose is probably the better word, for all sorts of functions companies might have. now, given this runup right now going into it at $52 a share, it would have valued the company at around $13 billion. this is, you know, a 30% lift if that, so we're closer now to $2 billion. what's interesting as well is that snowflake, when it went public, you know, it was now flirting with a market cap of $70 billion. i'm doing the rough math in my

head -- always risky without charlie brady, our stocks editor -- all of the valuations attached to those companies have now crossed likely about $150 billion. now, that is just on paper. it can be fleeting. stocks drop all of a sudden into ether, these valuations then go. but in a busy week of offerings -- and we tend to look at them by number, by the dozen or so and by the end of next week the two dozen or so that are coming public -- i tend to look much more at the overall aggregate value because it's simply a more eye-popping revelation of what's going on. when the general market tends to hiccup, the market valuation of all of these offerings when you get into this neck of the woods and adding up the snowflakes and the unities and the jfrogs and a host of others, the rough back of the napkin figures that i'm getting put it north of $150 billion. and that might be conservative when all is said and done. again, i'm looking at the

aggregate value of the companies based on the price of the shares being sold. that's a little weirder, i grant you, but it's a good way to sort of monitor where a lot of folks are placing their bets. so we'll be following that. also following some changes going on in the big apple right now. we told you yesterday about new york city and the fact that it's going to stagger once again the opening of its school year. but what's happened in the process is a lot of parents are flummoxed, surprised, they're angry, they're using words that we can't use on a family show. kristina partsinevelos has been following all of this because, man, oh, man, it's a nightmare, right? >> reporter: i know. another blow to the city. you have parents and administrators that are shocked yet again that school is not set to start on monday as planned leading some to say this is yet another blow dot.comback of the big apple -- dot.comback of the big apple. >> the indecision we're seeing in new york is just another drop in the bucket with all the

headwinds, all the other challenges that new york city is facing that business owners have to deal with as they contemplate whether or not to open up their offices or whether or not they even stay in business. >> reporter: you have parents that are struggling to deal with childcare, but the future of businesses is also in question. you have a let or that was signed by some major business leaders like the ceo of morgan stanley, the ceo of jetblue, and this letter was addressed to mayor de blasio warning, quote, of widespread anxiety and in the city along with, quote, deteriorating conditions in commercial districts. and so you have even the governor of the city, too, warning the longer these work from home policies are in place, the less likely people who have fled the city will return. so he's concerned about that. we even have a new study saying roughly 44% of new yorkers who earn about six figures or more have considered leaving the city in the past, citing the cost of living as the major reason. and we're mentioning this stat

because those high income earners contribute a lot, almost 80% of the tax revenue for new york city. so, neil, you have a whole situation where you have a lot of restaurants closed, businesses still closed, and then you have the fact that schools, public schools will need to find 2,500 extra educators in less than two weeks leading more to believe that the delays will continue. back to you. neil: amazing. thank you very, very much for that. kristina partsinevelos. you know, joe borelli, we're normally talking politics with him because he's a big figure in the trump 2020 campaign, new york city council member, but i'm talking to hum today as a dad. he's fed up with this. and i believe, joe, you pulled your son out of public school because of all of this. explain. >> yeah. i mean, as of, you know, three days ago, four days ago my son started in the catholic schools here in new york city. you know, my son does need some services, he needs speech therapy, he needs some o.t.

therapy, and he's doing great, and he did great in pre-k last year. but to have the doe offer perhaps one day of in-person school, which will be occupied totally by his services and not even school, it just was unacceptable. the other thing that kind of tipped my hand was my wife is a licensed substitute teacher in new york city. she's been a teacher for many years. and we fully expected that her phone would be ringing off the hook leading up to the proposed start of schools because we needed so many teachers, and it just never happened. and, unfortunately, we heard, you know, putting my politician hat back on, we had heard from principals and school administrators for months that it's just basic math. if you take one classroom and split it into, essentially, three cohorts, you would need three teachers to actually the teach that particular class. and it just seems like there was a never ending sense of urgency -- never any sense of you are general su from the

mayor or the school chancellor to get the resources. i don't doubt that the schools are sanitized, clean and all of that, but the most basic element, putting a qualified new york city public schoolteacher in front of a group of young kids, that just seemed to have befuddled mayor de blasio and the chancellor. neil: so what do you do? i mean, this could go on a while, i mean, for you, your son, your family. you could be in limbo for a good chunk of the school year. >> and, neil, i was out there at one public school this morning with a bunch of parents with signs and their kids demanding school. we are looking at lawsuits to require school be open. it's unfortunate because, you know, we look around the country, and we see every school district is having some hiccups and some problems with their opening plans, and that's okay. and we should be willing to give leeway to administrators who are really trying to pull all this out of right field, essentially. but when you see new york city just delaying even the start of their plan and not able to even come up with a solid plan, you

know, we had parents at the orientation virtually for their kids' schools learning during the orientation while the mayor was on television saying school won't even be starting. that's how teachers and school principals found out as well. it just really shows incompetence at the highest level. and we always treat mayor de blasio as a caricature now of incompetence, but you have to realize that the failures of his administration are actually resulting in children missing out on the most fundamental and most critical years of their education. and that's something parents and i and a lot of people just won't stand for anymore. neil: well, you know, it says something when newspapers in the new york area, the daily news i would think is a little left-leaning, "the new york post" maybe a little right-leading, both bashing him because that's what startled parents like yourself don't know what's going to happen that very

day, let alone the next day or the week after that. joe borelli, thank you very much. >> thanks, neil. neil: we have reached out to the mayor a number of times. hope springs eternal that he'll eventually say yes, but again, this is something that incited bipartisan rage. back to washington, what's going on with various stimulus measures right now, one to keep the government lights on and then one to help the nation's airlines. they were coming, essentially, hat in hand to meet with the president's chief of staff yesterday talking about how they're going to need more relief. they got $25 billion when this pandemic started. they need another $25 billion to keep themselves going, and if they don't get it, it could look bad. the former head of jetblue, joel peterson, will be joining us on that after this. ♪ ♪ or what's trending.

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♪ ♪ neil: all right, following a lot of developments including unity software making its launch today. it's getting a lot of attention. we're keeping a close eye on that one for you, right now up about $16 from an offering that was already ratcheted up a number of times, now around $67 a share. let's go to the very latest on all of this with -- not on the unity offering, a little bit more detail in a second, but the fallout right now in this, you know, pandemic recovery here where so many, you know, things are postponed, delayed. we told you about what's going on in new york and the confusion with schools. to edward lawrence right now on the institution of capitol hill that is sitting its doors -- shutting its doors. edward. >> the capitol lounge, neil. after 26 years as an institution here where people could come and mucking, feel safe -- mingle, you know, it is closing its doors because of the coronavirus. businesses in this whole block just trying to survive here.

we're only about five blocks or so from the u.s. capitol in that direction, but look at this business, and they're offering even 5% discounts on phone orders here and cut their hours down 5-9. back to the capitol lounge r on facebook they did not get a small business grant, and that's where the money pretty much ran out. on twitter eight days ago they did announce they are going to close the door. the last day of service will be sunday. it's been a 26-year great run, and most -- they're most proud of the way the management and staff have handled the incredible adversity over the last six months. they tried to survive by selling t-shirts and merchandise, still the outpouring since the announcement, it's been a 3-4 hour wait in the evenings to get into this. bars in d.c. can only have 50% capacity, but the size of this lounge only allows for 10% of their business to actually take place. now, the closing not only affects workers and customers, but also the community. this was a place woven into the fabric of the community, an

exchange of ideas and where people could come together. other bar and restaurant owners help law makers can come to the rescue. >> i hope that there's more relief, but, you know, right now we're just not sure. think about all the work that all of us in this industry have put into our restaurants, our souls really just to see this kind of start to fall apart. >> reporter: the national restaurant the association says that 43% of full-service operators will go under in the united states for bars and restaurants if nothing changes. they say that $185 billion has been lost over the past five or six months because of the economic shutdown. so, again, they are needing help in the capitol lounge here, an institution, will be no more after sunday. back to you. neil: just incredible. thank you very, very much, edward lawrence. very sad, but we're seeing this play out all across the country. in the new york city area, they say one out of four restaurants won't make it, that even when things are back to full, you

know, indoor dining from the 25% capacity they're looking at the end of this month, it'll be too late. it's just very, very sad. also very sad is the plight of airlines right now in the middle of all of this. many of the industry's ceos were on capitol hill yesterday, more specifically at the white house meeting with mark meadows, the president's chief of staff. what they want is some aid. we're told that the president is open to that, we just don't know what the figure would be. they got $25 billion sort of in the beginning of this pandemic when their planes were essentially empty and they needed help. there was a proviso that they couldn't lay off workers if they got that money. they didn't, but they're in a position where all of that -- where all of that expeer -- expiring, they might not be going anymore. the former jetblue chairman joins us, joel peterson. joel, speaking of you and your

days running jetblue, through no fault of the airline, no fault of all the airlines, they were in this pickle where people weren't flying. and, you know, that's improved a little bit but not enough to make the industry whole, far from it. so let's put it to you this way: if they don't get the aid they're seeking, will some of them just fail? >> yeah, it's hard to see survival. you know, survival means having cash, a little bit like the capitol lounge are discussion you just had. the airlines are a butt of a you adult. -- a bit of a utility. the whole business climate depends on havinger alines eventually -- having airlines. so they've served as a bit of a conduit with not furloughing all these people, but that runs out at the end of september. so the airlines are really looking to see that extended so they don't have to lay off so many people. but what you said was people stopped traveling. it's interesting, our occupancy

sells to about 3% of what it had been the year before in march. it's back up to about 25 or 30% now. so you never thought you'd see airline or hotel executives celebrating at that level, but there is some movement. it is coming back a bit. neil: you know, joel, i'm curious how you look at the environment for flying. i spoke to a lot of people, what are you doing for your vacation plans, obviously, when people were allowed to come out of their homes, they drove to a lot of places. they didn't fly to a lot of places, limited to fly abroad because so many countries won't accept american tourists. and lo and behold, we find out that hawaii on october 15th will be opening up to tourists on october 15th, so i'm wondering where are the fliers going? where are passengers going? is it the continental united states? is it sticking close to their

knitting? what? >> yeah. people just aren't flying nearly as much, but that doesn't mean they don't want to. i think the promise of flight has always been that it's the safest form of travel. and now there's this new element of safety which has to do with our health. and so the airlines have responded by taking temperature tests, having people wear masks, blocking the middle seat, insuring they've got hepa filters so that air in the fuselage is the cleanest on the planet, sanitizing planes that turn around, and i think people need to get really comfortable that this is a really safe way to get around again. my guess is that the friends, family vacations travel is going to come back faster than business travel, but it may take some time. you know, neil, we were scheduled to ring the bell on 9/11/2001, jetblue was supposed to go public, and it was actually five month ifs later, and it was actually eight or nine months later before traffic

picked up again. so i think it's going to take some time. and i think every airline is looking at what does a v-shaped recovery look like, what does a u-shaped recovery look like and what does an l-shaped recovery look like because they're dealing with survival now. neil: i'm curious, does it make a difference to your former industry who becomes president? i mean, in this environment right now there's a lot of volatility the closer we get to the election, we're seeing a lot more of that volatility. but your thoughts on how that could add to maybe the airline industry angst because it just doesn't know. >> yeah. i think the thing people hate, the market hates it, i think business leaders hate is uncertainty. and i think in a crazy political season there's a lot of misinformation, a lot of recrimination, a lot of second guessing. politicians are good at getting elected. i don't think they're really good as entrepreneurial leaders.

and the reason i wrote this book was to really help people understand what entrepreneurial leadership is, what people see around corners. they walk through walls. they anticipate change. they adjust. they don't recriminate. i mean, they do a bunch of things that are really valuable for the recovery. my mistake was releasing the book on april 21st. things weren't great, but i think it'll become relevant again. neil: yeah. and i do want to make it relevant with us, get you back to talk more about that. it's just on this news city day with the airline industry it's sort of front and center, i did want to focus on the news up front, and you were very kind to indulge me. i do want to have you back to talk about maybe what can and should change as far as leadership in this country, political, business and otherwise. i think your book is well timed to address that. i promise i want you back, my friend. thank you in the meantime. joel peterson, the former

jetblue ceo and "entrepreneurial leadership" is the book. step back and sort of see, you know, there are other ways we can go about meeting these challenges, so i do want to get him back on that. by the way, i know you're probably getting confused with all the various hurricanes that are out there, we told you about hurricane teddy that's off the bear i knew da coast right now -- per knew da -- bermuda coast right now, but there's a subtropical storm alpha that's forming in the atlantic. it's only the second time a storm name has been using the greek alpha bet because we've exhausted the english names. subtropical storm alpha right now out there in the atlantic. it is subtropical at this time so, again, it's not even up to winds of a tropical storm, but you know the drill here. for a while last week, we had five different storms all the way up from a tropical storm to three hurricanes concurrently. the first time we've seen that in the better part of 50 years.

we've exhausted the names for them, so we've gone on to the greek alphabet. so i'm going to brush up on the greek alphabet. we'll have more after this. -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪ so you're a small businor a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america.

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♪ ♪ neil: all right, to say that china's been provocative of late us would probably be an understatement, but a number of chinese jets buzzing taiwanese planes over the taiwan strait and that sort of neutral middle ground. that's not just provocative, that got to be pretty hourly and very dangers. benjamin hall has the latest. what's going on, benjamin? >> reporter: this comes at a time when taiwan is seeking to buy advanced weaponry from the u.s., and it comes at a very interesting time because reuters are reporting that taiwanese officials say if president trump were to lose in november, they don't believe biden would be as willing to sell them this

high-tech that they need to push back at the chinese. that's what the trump administration is doing right now, planning to sell as many as seven major weapons systems including drones, mines and cruise missiles, and this support infuriates china who sees taiwan as a chinese province, and they have repeatedly denounced the trump administration's support for the island. but washington has been very eager to create a military counterbalance to chinese forces, building on asset known as fortress taiwan. china is not happy. as you say, today they sent bombers and fighters repeatedly into taiwanese air space whose air force scrambled to deal with those flights, and china has been conducting large scale military drills recently near the taiwan strait in what is believed to be a simulated invasion. the trump administration has made no secret of the fact that it is willing to sell weapons to its allies in that region, and that area is considered a real

flashpoint. today we saw the u.s. undersecretary of state head to taiwan, meet with the president, something again which china is very upset about. it's the highest delegation to go for ten years from that department. neil: all right. here we go again. thank you, my friend, very much. benjamin hall in london. we'll be exploring this in much greater detail tomorrow on my weekend show, 10 a.m. live eastern time, whether china is doing something here that goes beyond sort of sticking it to us, but upsetting the world. remember, a lot of its economic numbers have been coming in quite strong. in fact, its overall data is the strongest it's been since before the pandemic. maybe they're feeling a little haughty and nervy? should we worry? charlie gasparino on the whole tiktok thing. i guess some sunday you can't -- come sunday you can't download? what is that all about? >> and, you know, this is a

china angle as well. tiktok is owned by a chinese company, using this app which is a short video app that a lot of kids use, young people to post various types of videos, dance videos. the trump administration believes it's using it to, essentially spy on them, steal their identities. as you know, this story has lots of twists and turns. early in the week we thought we had a deal to save it from being banned. later in the week there was stiff opposition from national security officials inside the white house that anything but a complete sale -- meaning you have to sell the app which the chinese don't want to do, they are preventing the sale of the app -- excuse me, the algorithm. that's what this really is. you can create a company that licenses the algorithm, which is what oracle wanted to do, but unless you sell the algorithm to a third party, a u.s. company,

which is what microsoft wanted to do and couldn't do because the chinese wouldn't let them, this is really not a sale. and right now what we've got from the trump administration is this: you know, as of sunday there's a ban that's going to go into effect, and it's going to be postdated november 12th, after the election. kind of an interesting compromise. why did the trump add administration, which looked like it was poised to approve this deal, joint venture with oracle, why did it back off? i hear it's, again, national security advisers. but i also heard one of the key players voicing against this deal that it wasn't really a sale was attorney general william barr. and i heard he was very vocal in saying that this is not a sale unless the entity that is being purchased by the u.s. entity is the algorithm. remember, what is tiktok other than an app? but, you know, its users can go any place else. they can, they're free to go any place else. it's really the technology. it's the algorithm.

and unless you buy -- unless you own the algorithm, which is not for sale because the chinese won't let it be sold, this is not a sale. so it's a mess. be interesting over the weekend to see if there's another compromise coming. i don't think this story is quite over, neil. back to you. and by the way, neil, i just want you to know, i was at a very good restaurant in greenwich run by ron rosa? all i kept hearing was stuff about cavuto. i don't know why. neil: wow. i was at a mcdonald's, and your name came up -- [laugher] it wasn't quite the same. always good seeing you, my friend. there are business reporters and then there's charlie. he's the best in the business. we're very, very lucky to have him. and he goes to the greatest restaurants. all right, we're also following a little bit of, you know, i did wonder what happened to the last english-named hurricane, tropical storm wilfred is already forming, they run out of names, hence to alpha on this tropical storm in the greek

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neil: the software powerhouse right now unity software is

doing well in the lower right-hand screen, 52 bucks a share, around 17 close -- little over $69 and around 123 quarter $2 billion, the nasdaq itself is not so lucky, technology rich it's deeper into correction territory, the stocks editor reminded us that it's facing the 303rd down week in a row and the lowest totals we have seen since back in july. maybe a more appropriate would be nasdaq, we will have more after this. instead of buying by the share. all with no commissions. stocks by the slice from fidelity. get your slice today.

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neil: make way for the young and, that's the way to the lot tech ideals have been addressed, the older anchors that box when aisleways hear that, i get a career power annoying going, the unity software the snowflakes, the capturing the attention of the future technology, way too early to tell, they will have successful launching and mostly to a stock that is held onto the gains and other words they have not fallen in the case of snowflake and j fox, they are both up today as you can see but worth noting all of this is creating an environment when the

horse soldiers, the leaders of the technology leaders or the amazon and apple or the microsoft, they are losing their perch and their influence and dragging the nasdaq down deeper into correction territory, lowest levels we've seen certainly since july, these are fast-moving stocks, some are very pricey stocks so we can see wild swings back and forth but the young up and comers we are getting a great deal of attention as far as the future industry leaders, way too soon to tell but i see the disconnect because it's pretty pronounced today. welcome back i'm neil cavuto continuing "coast to coast" on fox business where were awaiting the president, and in our help update us on the status of a vaccine that could be had and even dr. fauci is saying by the end of the year, some are hoping the president by next month has become a political debate and

doesn't blake burman know that, he'd live in washington with the latest on how all of that is going. >> president trump will leave the white house for the midwest back to big ten country later this afternoon as he and joe biden will be visiting the state of minnesota, the president will be heading to the north central part of the state and biden happens to be going to duluth which borders the swing state of wisconsin. when you look at that state, here's the reason it's so important, ten electoral votes are in play, used to be a gimme for democrats, democrats when the last 11 presidential elections going back to 1976. president trump lost by a point in half the last go around, he often says he believes if he would've made one more campaign stop, he could've wanted 2016 in his view, however, when you look at the polling according to real clear politics that the polling average, the gap may have widened, biden holds a ten-point lead according to the average, as you write the focus back at

the white house before that is going to be on vaccines, as a press secretary kayleigh mcenany says coming up next hour will clear things up where things stand regarding a vaccine timeline. >> the president wants to give the american people a very clear eyed look on where we stand with the vaccine, the majors that we put in place, a whole distribution plan i read through it last night, very comprehensive, what this present has done a manufacturing vaccines on the front and so in 24 hours of having phase three clinical trial success, we can start just reading those. >> here's the backdrop, earlier this week robert redfield testified he could take until q2 or q3 of next year to get the whole country vaccinated, president trump has said he believes redfield was confused and is pointing to an october vaccine, during interviews earlier today anthony fauci says

it's possible we could have an answer on vaccine next month but he picks that will occur in november or december, he said after that the high risk could be vaccinated in december, dinner in february, the history shows there is a hesitancy in taking vaccine so he said the following about getting the country vaccinated. if you want to ask the question, what about getting everybody vaccinated so we can say vaccines have had a significant impact on how to act going back to some degree of normality. that very likely would be in the first half to the third quarter of 2021. probably going to be lots of talk about that in the 2:00 o'clock briefing press conference with the president. neil: the timing is everything, thank you very much, blake burman following all of that, this is all about following the virus it's self, we see the spiking cases notably abroad particular places like england, spain, israel, where there read

locking down, timing is everything, what is the latest. >> for then first time in a week on thursday the number of new daily cases in the u.s. passed the 44000 mark, a lot of the worst outbreaks were seen right now are in the midwest, many are by college students ignoring health guidelines and throwing big parties as they return to campus. in indiana at least 300 students at ball state university have tested positive and within a couple of weeks of the campus reopening last month the surrounding county became the epicenter of the virus. wisconsin just reported the highest number of new daily cases since the pandemic began, due to outbreaks at the flagship university, more than 500 students are either in isolation or quarantine. in missouri there is a lot of concern over a bike fest in the lake of the "ozark" region that could draw tens of thousands of bikers to the area and make a

bad situation even worse, missouri ranks third in the country for cases per capita by north and south dakota which are both seen spikes after the huge annual sturgis motorcycle rally last week. as researchers across the globe worked for the vaccine, you heard blake burman mention, u.s. officials are concerned about indications with a lot americas are feeling hesitancy of getting the vaccine and in part that is due to how politicized is become as an issue. here is dr. fauci. >> the fda has made it very clear explicitly that they will not be influenced by enter political consideration. if in fact it looks like the vaccine is safe and effective, i tell the american public that i will take the vaccine when it's available to me and i will recommend to my family that they take it. >> even if it's ready and available late this year early

next year the majority of americans are not convinced is safe and willing to get it, it really won't make much difference in terms of us getting back to a new sense of normalcy. neil: thank you very much, going to tom price, the former health and human services secretary former georgia congressman as well. doctor, certified congressman, a lot of title there. how are you doing. >> i am well i hope you are. neil: i'm, let's talk about the quest for a vaccine, maybe this was not joe biden's intent but by raising doubts about a vaccine before election day, he is carrying a lot of people, if a vaccine is to be had before election day, do you think that is a problem you trust the establishment the fda uses to get one out there that has been honored in this is a workable vaccine. >> i do trust those folks in the

politicized nation as a reporter just mentioned of the issue is really concerning, what biden is doing and what others are doing that is making so individuals who should be receiving the vaccine once is proven safe and effective might not get it because they had hesitancy of what they heard from those other individuals and that may in fact increase the likelihood of not just having the disease but the challenges of morbidity or mortality from the disease itself. and from the very beginning we talked about this and said you must follow science and respect the scientist and the physicians involved and when that vaccine is ready and not a minute before, we need to make certain that we get back to the american people and the most rapid possible way. neil: i don't know if you experiences when you are working with the president but the

reason why people and maybe in light of the woodward book and those that president understated when he knew otherwise, the president has argued that he did not want to panic people and all of that and he's often challenged his top medical officials. and he was trying to correct comments that the cdc administrator mentioned about the efficacy of a vaccine out soon. dr. fauci in camden a number of times, he does not listen all the time to the scientist. that is breathing the doubt. what do you think of that. >> in spite of the observation, you have not seen dr. fauci back down, yet not seeing doctor redfield back down, you have not seen any of the other scientist back down, i remarkable confidence in the scientist in the physicians and the medical folks who are working as diligently as they can to try to make it to the american people

and people literally around the world are able to combat the new virus, the new infectious disease. neil: is the president helping that cause. i understand what you are sucking but as a president helping that cause by second-guessing these folks in the number of things he said in the past, i agree with you i have trust and confidence of the medical establishment of the people who are running it and protocols in place in their spoken of any vaccine that becomes available in healthcare workers in battling this on the front line first, senior citizens, and individuals with respiratory or of the elements that are particular in need of this, that seems widely accepted but they always come back to the president and what he says. >> you have folks across the political gamut who are throwing doubt and uncertainty into a situation that is already uncertain because it is a new virus in a new infectious disease.

what we need to be doing is listening to the folks who actually know what they're talking about from a scientific standpoint, that is why in this challenge of getting a vaccine going in the short a period of time is really remarkable, usually these things take years to develop, we are shortening that timeline, yes but the only way we will have confidences if we listen to the folks that are actually engaged in the process and can state their reputation in their career literally on the validity of a vaccine once it comes out, we will not just have one vaccine, we will have a number of them, two, three or more that will, at different stages. neil: very good point. thank you tom price, former health secretary of health and human services. the doctor is right, there are three or four companies that are competing for the honor to get something out, the rushing to be first but as you point out, they are going to be coming up with something, first we have multiple vaccines up including

one that is getting a good buzz in the united kingdom united kingdom, astrazeneca, pfizer, my dear neck, those of the prominent names that can have vaccines out. but the political back and forth on vaccines tends to target the president more than anyone else. he is the one watching it and the fact that joe biden wants to be president could be inciting it. this came to roost when i talked to parents and to town halls one featuring the president of the united states and one featuring the guy who wants to be president of united states, i want you to put blinders on if you can and hear the questions in the approach and decide for yourself, who is getting rougher treatment, who is getting easier treatment. take a look. >> why did you tell vulnerable people like me under the bus. >> if you are president could you see a scenario where you downplayed critical information

so it's not to cause panic. >> to think it's okay to be dishonest. >> how are you preparing for the debate. >> how do you stop police killing blacks at three times a rate of killing what. >> you see ways you benefited from white privilege. neil: a little and balance, be rough on the other, it's fulton strikes, it's a cliché term but we talked about everyone, it's pretty distinct right now and the media coverage of joe biden versus donald trump, it's a little unbalanced, the president might get a lot out of this but joe biden has said some doozies as well, i'm just try to get a fair balance look as to whether this treatment is fair and balanced, chris wilson, we also have a democratic strategist, i know where you are coming from obviously as i know where chris is coming from but it is pretty obvious to me in terms of the number of questions versus the number five times as many that

donald trump is facing in the questions are nastier for donald trump and more in-your-face, i get that he's a president but it's almost a task when it comes to joe biden, what do you think. >> i think the check on the media is something we all have to do but i don't think in this case is an overwhelming support for joe biden but i think donald trump genders this judgment with his commentary in attack on science which is failure to test and train. neil: joe biden has said some doozies as well, hold him accountable. you say what is lying, you really have to be pretty diligent about that. >> i think it a normal presidential race with a normal candidate in the white house, that is not the case here, this is an unprecedented person who lies by breathing.

truly i don't think we can say both sides. neil: that does not get the media right to ignore false statements to joe biden, that's what i'm saying, chris, the president has invited a lot of criticism with off-the-wall statements but to be fair joe biden has also set off-the-wall things particular about the virus and when it was a worry to him and when it wasn't, when the president was not acting fast enough when he himself back early part of this year was holding large rallies oblivious or maybe ignoring the concern that was out there about the virus. go with the president on saying that, chris i'm saying also what the guy wanted to be president was saying. >> joe biden is the one that tried to plagiarize his way to the white house and giving speeches in 1998 thinking that was going to give him the past, i don't think there's any question the mainstream media will put it on the scale. watching the biden town hall

last night, who knows he may have those questions in advance, topic before and they were softballs but at least he managed to hit them, that will be the challenge as we moved to the debate for donald trump the debate is going to raise the bar for biden and hit the ball back and it's going to require the president to push him and make him and push him for his tail out to the far left. neil: you might want to second-guess what you are saying, the president has set this guy up to be oatmeal and finishing a sentence, he has set the guy up to do better and also the president sees the doubt. >> he is going to have to push biden on those issues and you have specific examples like eliminate taxes into becoming on donald trump to make sure he's

not can have any help for the moderators, chris wallace is going to be a hard on trump as he is on biden if not harder on past experience, i think it will be up to the president to push to biden to change on where he's been dishonest and force him in a position in that is key about the next stage of the campaign where we are going. neil: you see anything that worries about the reluctance of the part of joe biden to talk to the press, he does not do it very often, maybe he's sitting on a leaf and feels like he does not want to risk that, but it could cost him. >> bowejoe biden engagesin the . in terms of coverage, donald trump can create a windstorm and garner press coverage for his foot in his mouth or attacking the cdc director and the disadvantaged joe biden there, that still is to trump, does not allow biden to get his message out on jobs, on the economy and

that is where swing voters are, my colleague was talking about the debate. neil: he does not engage the press and off, he is the index card on who is going to call on, you are quite right, the president is one that generates a lot of the news but there's nothing approaching a fair balance number of tough questions for both men. >> let's talk about his policy prescriptions that don't get coverage, it is understandable but also what biden has to confront, frankly there is a very nero number of swing voters in adult need to shut people who voted for trump in 2016 but the people that decided not to vote in joe biden has to engage those folks and you have to talk to them about healthcare. neil: he's got to get them engaged, i think the president should leave the personal attacks and the distinctions

could support itself well but he may be setting up the other guy to pull a ronald reagan ironically and showing up versus jimmy carter at the time and seeming applicable and present intriguing, he wanted based on that, low expectations and doing well in that debate, it was a week before the election, very different now but what do you think? >> i think if you look at the data, trump is really pushing biden on the issues and we are 46 days before the election in 11 days until the first presidential debate, you already have people starting to vote in minnesota and virginia before the presidential debate and they made 27 days and 34 days before the presidential debate, a lot of decisions are being made right now and is income to on the president to make sure he is able to point out where biden flips often where he's been dishonest because the press is

not going to do that and if he keeps asking questions should you be more angry on joe biden, is not a fair fight over media coverage. neil: we will watch closely, the first debate, we will see how it goes, thank you both for showing up. discussing this in a very respect the way, i always appreciate that. we told you about how increasingly college football seems to be coming back with the big ten and the pac 12, now it's on to college basketball and one big league is already announced his plans to play ball. that is after this. ♪

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neil: i forgot about college football and indications of the big ten will resume playing the latter part of next month, trying to get eight games in and pac 12 could consider something similar but let's talk about early, college basketball, they are getting ready for schedule to be available undirected by covid-19, one of the first to move on this with the metro atlantic conference the commissioner rich will join just now on the phone. good to have you, you got things settled and organize, tell me about it. >> good afternoon, we are excited one step closer toward college basketball which got

interrupted last march, we began to an half months ago working with athletic directors, we were just waiting for the in cia to announce its start date which did this week november 25, there have been two other dates on the possibility list, one thing i liked, we announced our model and we will release the actual schedule on tuesday to the membership in public. neil: you are first out the gate, do you know of other conferences that are not too far behind, the fact is you are not cutting any gains or doing any of that, that seems to be a signal to play ball as normal. >> i think every conference is working on it, i think the football guys have been a little preoccupied, that is understandable, i think the nca

has cut four games out of the schedule basically. the minimum or the maximum number is 25 give or take if you're in a multi-team event in the preseason space, we eliminated those four games and we built our full conference schedule and that allows us to space it out over december, january, and february and with any possible disruptions from the pandemic and the goal is to finish the conference season and get into the tournament in atlantic city this coming march and onto the ncaa tournament, everybody is focused on my goal. neil: how about arenas where these will be held without be court or% capacity, i guess it depends on the school in the conference, what do you hope to see? >> the real determining factor is state regulation, at least in

the tri-state region where our goals connecticut, new york and new jersey, right now no fans allowed, up until december 23, we projected no fans in attendance. as those numbers perhaps get modified with states allowing us a percentage of the building, we will revisit that likely open up at least for the month of december, no fans in attendance. that does affect arenas at the union center and now benny, we work with both places, they are the host for siena college and they will have to adjust how they operate i in order to host cnn. we want the game to get underway, hopefully we will get to the point in time where the pandemic allows us to open up the venues for fans. neil: fingers crossed on all of that, i forgot this all started with march madness and then the

pandemic, talk about bad timing. i hope it goes as you hope and plan, the atlantic conference commissioner and other leasing conferences to follow suit. we will have more after this, we have a lot of the attention on unity software, the videogame software maker that is writing nicely on the market the nasdaq that is not, the new up-and-coming technology names and doing okay the old are not doing okay. stay with us. ♪

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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. neil: you mentioned that you are not entertaining the state income tax but with the flood of people we had coming to your state i believe in excess of 24 million, i could be off i apologize if i am, that's an expensive responsibility, if

people are fleeing because of high taxes, they are coming here and almost all of them are people who are contributing more than they are taking. neil: i'm well aware of that. a lot of folks -- how is he doing this without the income tax and the estate tax and any of that. >> we reinforced the good things and so we broaden the tax base more and more productivity in the state so you end up raising more revenue with the low rates then you would if you tried to do more tax policy anyways. neil: ron desantis telling me new jersey and especially rich new jerseyans which have been surtax to hell and likely to pay the highest in the country, come to sunny florida, many could, 16000 new jerseyans are under the gun debate the higher rate. money can move, that's always a

possibly. lauren simonetti on that. >> it is moving, i have the numbers to prove it, starting next month if you live in new jersey and made more than $1 million a year, your tax rate goes up to 10.75% making it the second highest rate in the nation behind only california, some of that money actually a large chunk of it would be used in divvied up into the 500-dollar rebate checks that we go to middle class residents starting next year but tax experts say the timing for all of this could not be worse. listen. >> last time you want to impose significant new tax burdens, people are really immobile right now, the highest income individuals can leave. >> they are leaving, if you look at the four highest tax states, new york, california, illinois

and new jersey, between 2010 and 2019 they sell the highest levels of outmigration, people saying enough in leaving and in the past is any indication of the future, back in 2004 new jersey had a similar millionaire's tax, 20000 residents fled costing the state to a half billion dollars in lost tax revenue. i'm not done 2012 take a look at maryland, and lost 31000 residents and 1.7 billion in revenue, this is a lot of people and a lot of money but also a lot of business owners packing up and moving out, what could be done instead, supporters of such attacks they say it is a complete myth but a lot of people suggest you can do things like growing the economy, sometimes it means a tax cut but also broadening the tax base so you are taxing things that weren't taxed as much before like services and rich people like services two.

neil: then the liabilities and their garden state that are off the charts. to raise revenue than to save on the revenue and look at the underlying spending, one of these days maybe they will do that. lauren simonetti thank you very much. bill migrant the wall street editorial in a former bush 43, i did want to touch on the new jersey development but one other story that got my attention, that's what they're doing in str was trying to take some money from the cares act and reappropriated into a 500-dollar monthly income for low income families affected by covid-19, it was in and mostly passed by the council and they like what the mayor is doing but my question to you can he do that, these were not meant to do something like this, here he

goes. >> one of the council members asked that question and i think she got an official answer saying that they can, we will see the federal government steps in, i am dubious about these schemes but it's better to use the cares act money then new funding, it is interesting it comes at a time where they reduce the budget for the police, not quite as drastic as minneapolis over the way but the police chief says it will mean that staffing level goes down 2022007 levels pre-there's no substitute forgetting people back to work. neil: at the same time joe biden had a different plan but not all that different when he becomes president sending out the $300 monthly tax to those who have kids under 17, that coul add up.

another child tax credits and the rest. what do you think? >> i have the same approach, i think this is a dubious substitute, there is no substitute from getting the american people back to work. most of the people that i know, i know a lot of people struggling and a lot of people with children that want to work and get back to their jobs in a safe and responsible way, that's where the emphasis needs to be put, i don't think we can hand out checks forever and think there is no cost to it and that it is really going to substitute for a healthy and providing for themselves. neil: while i have you on the new jersey thing third time is a charm for governor murphy and he thinks he will raise the money, as you reported in the past, money can wander in the people who have a can wonder and sometimes it does not translate into the revenue estimate that these states do these sort of

things and tell you about, where you think this is going? >> i think you are exactly rig right, we always have the projections and new cash and they say will not be for new spending just to settle our debt and balance things, it always ends up needing more, in new jersey the millionaire applies to incomes over a million. i would not be surprised if this goes through and suddenly the millionaire to tax applies to people a lot lower down the income scale, that's the other problem with this, new jersey is so dependent on its very wealthy people in the tax code, i can't remember his name, the hedge fund manager who accounted for 4% money is movable especially if you are wealthy, a lot of

them do not have to physically move they have a resident somewhere else that they declare their main resident and stay out of the state. is very precarious, is why governor cuomo for all of his bad policies he sees they are leaving new york city and york state and with each one of those guys leaving, it is a big hit because the tax system is so dependent on taxing the wealthy. neil: it is amazing here we go again, that will be a big deal, let's see how it goes, always a pleasure. bill mcgurn, a lot more coming up taking a look at unity software and unity is doing ok okay, it did have 77 bucks a share, it was launched today at $52 a share, it would've been a little bit north of one and a quarter, billion dollars and offering that has brought it up much closer to around two but the big heavyweights within the market average including the

dow, they are not doing so well, and interesting contrast with the traditional names, google and apple a cheaper stock today but it is still reminded with apple and amazon and microsoft and some of the other key names that have been leading the market run-up, it is the new guys in town, the new technology names that are getting the attention although today hardly offsetting what is happening with the big boys. we will have more. ♪

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>> welcome back to to give it a "coast to coast", danny vargas as part of an effort that began in 1994 to create the national museum of the american latino, poverty and struggle and childhood help mold the manti as today as did his mother who

guided him in the pursuit of the american dream. >> my mom is from puerto rico, she grew up very poor, never learn to read or write. >> after moving to new york city carmen found herself divorced with four young kids. >> she was the one who taught me when you are told to sit down and be quiet, that's when you needed the standard tallest. >> danny was the youngest child in only boy, his family lived in brookwood which was filled with crime, drugs and poverty, he graduated high school the top of his class and at 17 years old he saw a way out. >> my mom had to put an x on a piece of paper to authorize me too leave and join the air force under age. >> he believes that not only changed his life but saved it. >> they got me out of the environment in new york because his physically i would be dead or jail right now. >> after serving five years and in panama and working

intelligence he landed jobs at multinational corporations before launching his own marketing and communications firm, in 2017 he was elected chairman of the national museum of the american latino. >> we are a vibrant essential component of the american story. >> this past july the u.s. house unanimously passed the bill for its creation as part of the smithsonian on the national mall. danny's mother passed away in 2016 surrounded by loved ones, her lessons being passed to her grandson. >> that is one thing she taught me was to have faith that tomorrow will be another day and tomorrow could be better than today. >> the museum bill that passed had 295 par 295 bipartisan cosp, supporters are working to get it passed in the senate. neil: what a nice story, great job. alicia acuna you on that, there are success stories on that.

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neil: housing is hot, status of permits is disappointing but still a month of over month and year over year. the fact of the matter is housing is on fire, the demand for people who were sheltering at homes or buying new homes are looking for bigger better ones, that is unstoppable, the question is where they are focusing, a lot out of urban areas and more into the suburbs, david is where with us the national conference ceo, what are you seeing on this front with the home building and the strength of sales, pretty much across the country, where are the strong pockets. >> thank you for having me neil, i think where we are seeing the strength around big cities where people are really looking for more space and as you can

imagine when you been working for home for six months with your kids, you will be looking for more space, we also have a problem with home construction, it is up but not nearly where it has been historically so we have a supply crisis and i think that's really helped prices a lot in the short run which is good but we need to build a lot more housing and that is going to be really important coming out of this recession because housing is actually helped lead the way out of recession every recession we have had since 1960 except for the last one. neil: i was thinking you would be coming on new jersey taxes have been going up many high tax states, is there a distinction between the high tax states and how that is going because you have to balance that out with whatever home your purchasing, what are you noticing? >> there is no question that taxes play a role, people are

not quick to decide to move because they don't like their taxes because they already decided to be there in the first place but the tax burden has certainly increased in the last tax bill, we some reduction in the deduction for state and local taxes and so that made the tax bill that your expensive much more obvious, it used to be hidden in the overall tax bill but now it's not, it is right there in your face. neil: it is interesting people go to places like florida that don't have an income tax and estate tax, they do have high real estate taxes and that is a bit of a surprise to people but they save so much more than they would otherwise in getting zoomed on both ends with a real estate tax in the state income tax but i'm wondering what will drive this going forward you think people are seeking out in good locales but they don't want to be in cities.

>> i think there is a lot of interest in being in cities it's the highest end of the market, there is no question that people have been making choices to move out in big cities like san francisco and new york and others that have been skyrocketing housing cost what we've seen with covid i work home a lot more frequently than i thought i could. that will have an effect on people's thinking about commuting time, it has certainly affected me and i think that's been true of a lot of folks. the other factor where kids go to school is a huge factor in whether or not people want to move, i do think when we see relocation decisions, you are going to see that morgan peoples whose kids are out of the house and whose jobs are more

affordable than folks who lived where they do because of where they worked. neil: i want to surprise my kids when they come home and where's mom and dad just to see what they do. thank you very much david, we will have a lot more after this. 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. there's an art to listening. it's the ability to hear more than what's being said. to understand the meaning in every pause. and to be able to offer the answers that make someone feel truly heard.

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neil: i do want to let you know

since i teased it, that the spikes in cases are notably in france and spain. israel now at another lockdown because of that and the u.k. is considering one after a severe sharp rise there. we will explore that later today. in the meantime to charles payne. hey, charles. charles: hey, neil, thank you very much. good afternoon. i'm charles payne. this is "making money". the market continues to struggle as it attempts to find a footing holding at key support points. questions linger about the potential catalyst and this as investors debate growth over value. we will focus on just what the heck is a value stock anyway. plus consumer sentiment moving to the highest level since march, but still way down, so what will it take for the data point to join so many others in a v shaped recovery? and we are awaiting for president trump. he's set to address the media on the vaccine timeline momentarily. we'll bring you to the white house as soon as it begins.