maria: we are back, 30 minutes away from the opening bow, a mixed open down industrial down 145, great to be with you this morning, thank you. have a great day, "varney & company" begins right now. stuart: good morning maria good morning, everyone, start with apple, the most valuable company in the world and arguably the best tech company in the world, today they introduced the first 5g phone, the apple 12, first look is today about four hours from now, huge gain for the stock monday and it's up premarket again, but buck 135, 1%. smile everyone, more people own apple than any other stock, then there's amazon, starts prime day today, shifting the holiday shopping season earlier and

earlier. the strategy, shop now to be the december delivery rush. the stock took off yesterday and up again premarket about $24. within the last year, amazon has touched a low of $1600, now 34 . double the past year, modest pullback for the dow, down about maybe 150, remember it was up to 50 yesterday, the s&p will be down as well. look at the nasdaq, powering ahead again on the back of another technology search, 31% again. i have trumped the video, it may surprise you, this is the crowd lining up for the presidents event in florida, it is absolutely endless. and to impact largely mass close crowd, the president danced up a storm, he should his apparent boundless energy, the man is

back, he is planing two or three events a day until the election. then there's joe biden he went to ohio, forgot mitt romney's name, said he was running for the senate in question the memory of voters who say they are better off now than they were four years ago. however, the main event obviously, the hearings for judge barrett, the questioning begins, so for the democrats have attacked her because they think she will overturn obamacare. they turned a judicial hearing into an election talking point ion. dato 22toenat sset 3 min0esutest eachea tha,t whald bhae b ief bs ou tti.mo tarttat t'vot get'vot startedtat y cpa" i"abs tot gin.gi ♪ ♪

t'rt:ovy day, t,t's,t', name o o o ton, lovely dayay mae so b it's as aiv ae news all of t i'man a lov ly day butay b i a yyctiv day, let's get straight to money, big names reporting the earnings early this morning on your screen, city, j.p. morgan, delta, j&j. lauren: so far we have a positive start to the earnings season. that is a great sign that the u.s. economy is recovering and they set aside less money and reporting higher profits, citigroup reporting stellar numbers, mortgage and wealth management doing more business, johnson & johnson also reporting results, upbeat as they raise the data is under data but they had to stall the coronavirus vaccine, take a look at delta reporting in the last few minutes, i would say it has

disappointed a lot of investors they said that they probably will not get back to normal operations until the middle of next year, it's still pretty intense for this airline, however, we do have high expectation for the market as a mentor to you since for the first time in a decade analyst have been raising earnings estimate and that is a high bar to clear, okay numbers, it's not good to cut it. stuart: not going to cut it, okay is not okay. got that. let's get to amazon and apple, very important today, prime day kicks off and apple unveils the iphone 12, that is hours from now. mike murphy is with us. first of all let's talk apple, morgan stanley says this is good to be the most significant iphone event in years. in my opinion, they better not disappoint, what do you say? >> good morning, i agree with morgan stanley analyst, she is one of the best in selling apple, here is the thing, the disappointment may come today or

week, i promise you, almost guarantee you people will go out and buy the new iphone. as an apple shareholder, i want to continue to own the stock, they may be off by a couple of percent one way or the other or they may be by a couple of percent one way or the other but that does not affect my long-term thesis for apple, people are buying their phones and will continue to buy them, i'm in the camp that 5g is a game changer, i think more and more people will come out of the pandemic and go out and buy the new iphone. i think it's a great number for apple but either way it's a company you want to own. stuart: got it, how about animals on, there some analyst that predict $10 billion worth of sales in total, 10 billion, is not big enough, is not successful enough if they had that number to get the stock price to the record high which i think is around 3550. >> we talked about it a lot on

your program, yes it is enough, the amazons, the apple, the big tech are going to take out their old highs and tak and hit new hs investors where you want to be. when you look amazon what i find really interesting, they are now changing the entire way consumers shop, they are saying were going to tell you to go out and start shopping today, you shop when we tell you to. if they can really control consumer behavior like this which i believe that they can, that really gives them a lot more leverage that they can pull even downstream and things like groceries where they really want to try to make an impact, this is really tough to change consumer behavior. >> are they starting the holiday selling season earlier and earlier tempting you to shop early so you don't get mixed up

in the late december delivery rush which occurs every year and really strains the delivery services, they just want you to shop earlier and earlier. >> absolutely, when they promise you're going to get your gift one day or two days before christmas, their snarls and shipping and they have to pay up for the shipping to come through their promise to get you the gift, if they can get people to start shopping today in the middle of october, that is a massive when but also if you dig down into the little bit, and now tells you that amazon has the ability to tell you when and where you should shop and you don't know where the next lover is going to come from but they will continue to pull those lovers. i think this is a big move for amazon, there is no question in my mind that there is going to be massive amounts of product sold on their site today. >> i think you are right, thank you very much indeed, going to turn to susan because i saw some of these deals, you had a list

yesterday, i don't know where you see this but they got a 70-inch tv for less than $500. susan: to to sheba television, we are expected to top last year's to have it entered 7 billion in sales for amazon during the prime day during the 48 hour extravaganza, they expect $10 billion in sales amount might justify the levels were seen in the record levels for amazon stock. stuart: 70-inch tv, that the jumbotron. susan: we need as our eyes get older. that's for me. stuart: let's get to the broader markets, why don't we. we are real close to record highs again, i'm looking at the screen now, we're close to record high. susan: we are talking about striking distance, the brighter s&p 500 benchmark just a little over 1% away from record highs, the nasdaq after the best day since april, now just within a

striking distance, one and a half or so in the dow, for their way has left technology around 2.5%, offering new record highs and all within a whisker of breaking new records just three weeks from election day and remember the gallup poll last week on a 56% of registered voters feel better off now than they did four years ago, i think the stock market record over the past few years may have something to do with the better feeling. stuart: open up your 401k, most people have stocks in their 401k or ira. if you closed at record highs, you made some money out there. susan: let me ask you about the rally that we saw on technology plays yesterday, besting for the nasdaq is april, does that suggest, if you think about it technology has been in the eye of democrats whether to be broken up or more regulated, the fact that they are rallying, does that mean investors don't think there's going to be a blue wave and a democratic sweep. stuart: i don't know, i can't

answer your question, i think investors are passionate to believe in big tech that american technology companies dominate the scene and will dominate the new economy when we emerge from the virus, that's where they are placing their money. susan: some on wall street say there might not be a blue wave. stuart: a blue wave, what's a blue wave, biden wins or the democrats sweep the white house and the senate and the house, i cannot see how that would be good for the market, i cannot see it. susan: technologies trading like it's not going to happen. stuart: yes it is, apple is up, amazon is up again, facebook, alphabet, netflix, premarket all up, next case, for weeks joe biden has avoided questions on packing the supreme court. now he is sort of answering the question. watch this. >> i'm not a fan of court packing but i don't want to get off on the whole issue. i want to keep focused. stuart: not quite a full-scale

answer but we are on it and will tell you more about it, questioning is now underway in date to the confirmation hearing for judge barrett, it could get ugly, will bring you the latest as the questioning proceeds. look at futures again, down for the dow, down for the s&p but the nasdaq up a quarter percent. varney continues after this. ♪

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stuart: if you are just joining 15 minutes to go for the opening bell, were looking at another rally in tech stocks, not too good for the dow in the s&p but the nasdaq will be up, we've seen a lot of volatility recently, tell me more about this.

susan: a strange stocks rally in volatility goes up at the same time, traditionally the opposite happens, volatility usually goes down when there's confidence to buy a lot of stock usually during a stock rally, yesterday was a strange phenomenon and when wall street saw the tandem move, that's a suggestion that there is something going on and the option market where you can buy a stock at a future price and future date and the call options and usually they're much cheaper to buy than $3000 amazon stock, either there's a big whale in the market, that is the thinking someone pocketed like softbank in august in the market or a lot of youth traders on the robin hood apps in the day traders find the cheaper options and not the stock. we saw this type of pattern back in august an early september, that resulted in a 10% drop afterwards when people quickly came out of the market, so for there's been five days when the volatility index rose alongside

a rally of 1.5% and the s&p 500, that is the most since 2003, something funny is going on according to bloomberg. stuart: iva funding is individual investor, the robin hood guys, the schwab. susan: that appointment benefits. stuart: i'm glad you're here to explain. judge. faces question starting today, so far, the democrats are making this all about healthcare. >> he made it clear he wants his supreme court in this nominate to join him and 11 at the affordable care act. >> they are asking the supreme court to strike down the affordable care act. >> overturning the affordable care act has been the most important policy objective of the republican party. >> we tried time and time again to overturn the affordable care act. >> president trump promised only nominate judges who will get rid of the affordable care act.

stuart: joining me now the great senator from indiana from the great state of indiana, republican no less mike braun, here's how it seems to me, the democrats have turned to judicial hearing into an election talking point session, and my off-line here? >> you are right on the money and the sad thing is, we are susceptible in tone because they've got every republican from the senate covering. when i came in, actually had a plan in my own company covering that, no caps on coverage, they get to stay on until their 26, we as republicans have been apologist to the healthcare industry another taking us to town. last week bruce westerman in the house and i rolled out the fair care act which is the most comprehensive look at doing what we should've done back in 2010

to have an answer against obamacare, they think they can win with us politically, amy coney barrett is too good of a judge, she is in with her credentials and in the process gluten, they think they got us on other issues. stuart: mr. senator, i'm sorry i got it cut the shorts because we have a sound problem, we cannot quite hear precisely what you gotta say, we would like you to hear what you gotta say but we gotta cut it short. thank you for getting on camera with us this morning. we will be back i promise. >> i got this for you, the new york times reports, there is a report and is is a pandemic in america will be over far sooner than expected, who's got this. susan: yes because of operation warp speed, the fact is the vaccine has ever been approved is four years but the new york times out of all publications is

saying we should get a company faster than that, they said sometime in the next three months according to the health experts that they are quoting the fda will likely begin granting approval to vaccines in the work, that is to expect the halting of the advanced trials of the vaccine but you saw pfizer, moderna and according to the new york times, they are saying $11 billion have been put into seven vaccine candidates and at least one will prove at least 50% effective at preventing infection, maybe we will get to this a lot faster. stuart: i'm utterly shocked and stunned that is the new york times essay we might get through this faster than expected because of the warp speed operation by president trump, i bet they never mention president trump. susan: they don't but they talk about the fda, the administration, there's a 75 - 90% chance that at least two will win approval by early

january, early january. stuart: alex azar, health and human services secretary on this program today and the 11:00 o'clock hour, talking about the new york times indirectly praising their administration, but the flags out ladies and gentlemen, that is very unusual. now we have a new study that says just how much the pandemic is costing us, i think lauren, you got a dollar number what is it. lauren: $16 trillion, making it four times more expensive than the financial great recession in 2008, 2009, let me tell you about the study, it's from harvard professor as well as larry summers who is the top economic advisor to president obama, they called the coronavirus, the greatest threat to prosperity ever, i challenge it with three points, point number one, they don't take into effect this fiscal stimulus that we have received and might get again, they don't take into effect all the positive

treatments and vaccines that could be coming in the lower death rate, yes infections are up but not as many people are dying as they were in the beginning of the pandemic. stuart: got it, well done. check the market, opening up at about eight minutes time down for the dow and down for the s&p and up again for the nasdaq. back after this. ♪ your journey requires liberty mutual. they customize your car insurance so you only pay for what you need. wow. that will save me lots of money. this game's boring. only pay for what you need. liberty. liberty. liberty. liberty.

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for the best reverse mortgage solutions. call now so you can... retire better stuart: future still point higher for the nasdaq, up another 60 points, big tech is doing well, look who is here, greg smith, no less. all right greg, i believe you expect new highs just around the corner, make your case. >> good morning, i've been very bullish, as were coming off the september lows, i think the equity markets can make new highs as we slide into the holidays. i think as an equity investor there is incredible efficiency, i think there's an alignment of four or key facts that equity investors need to be cognizant

of and consider. when you have corporate earnings, companies are not only going to meet and beat but check and raise, i think you're going to see increasing guidance in outlook and i think that's way to be positive, to you have the fed, the fed continues to show up with a nice fight with the bazooka and it will spread the economy with money, we know more stimulus will be coming and i think the stimulus dollars are not only going to have an immediate near-term impact on the economy but they will have a very much longer prolonged or positive impact on asset prices over the long-term whether the equities are real estate. next you have coping, you probably have 170 research teams around the world working on a vaccine, we probably have eight or nine in late stage phase three trials, we all expect good news coming on that front and also i would ask you to think about risk, how we think about risk, risk is something you cannot see, none of us were able to see 9/11, none of us were able to see covid coming but as

i look at election event risk and if you go back and think about bush, gore in 2000 when the day after the election, equity investors woke up and were scared when the market sold off because we did not have a president, i don't think that is the case today even if we have drum around the election, we all know we will have a president and if the market goes down, i would be a buyer of the dip. stuart: new highs says greg smith, one more point have you see the new york times this morning, it just came at us, the new york times is saying we may get through and get past the virus much more quicker than expected because of our warp speed towards treatments and vaccines. i think that's a big positive for the market, what say you. >> i agree, the minute we have positive news people are going to discount the time of marketing and getting a vaccine

to the people we all know it's going to take a long time to ramp up, manufacture, distribute but the minute we have positive news on a vaccine, that were propel us to new highs, i think that's very bullish for economically cyclical or small-cap stocks which have lagged a little bit and been a big tech market, i could not agree more, i think that's an obvious statement. stuart: give me 30 seconds on the startup, momentous space, it is private now it may be going public next year, i know you've got money in it but i enjoy hearing about your place in futuristic industries, this i think is a pure play in space, give me 20 seconds on it. >> 20 seconds, i think there's an epiphany moment and for investing in the commercial space economy, space did 40 billion in the private markets, my opinions basics could double or triple, there is a scarcity of public companies in which to make a bet on space, i think over the next 12 months

we will see a lot of private space related companies probably merging and may be doing away with regular ipos, just last week they announced their merging into a , has a chance if approved by shareholders to be the first publicly traded commercial space company. >> you see why i'm so keen on time, we hope you make your first billion student, greg smith everyone, he will be back. the market is open, 930 on a tuesday morning, we've dropped 75 points right at the opening bell, that is not as much as we thought we are going to go down when we looked at the futures, let's say were down 100 for the dow jones average, i gotta tell you for radio listeners, the majority of the dow 30 stocks are in the red, but only 80 points. the s&p 500, that is up fractionally lower, i mean a tiny fraction, down .04%, show me the nasdaq, that's where the interest is this morning,

nasdaq, on the upside, per quarter percent, 32 points, 11900. let's have a look at amazon, prime date underway, it goes through tomorrow, the stock is up another .7%, 23 box, 3466. apple, just of a few short hours from now, that will be at 10:00 a.m. pacific, 1:00 o'clock eastern, they will unveil the brand-new iphone lineup, the stock is up again this morning, a big game yesterday and up another .16 today, look at the level 124. that is apple for you. staying on apple, susan nobody has seen these or use these. susan: is a virtual event, outside of tim cook, not many people have seen the new phones but the consensus is for new phones, three sizes, better cameras, flat or square edges, here's the markup from the

rumors and the biggest redesign since 2018, that's when the iphone ten and the facial recognition with a record number of iphones sold that year, 231 million in the big selling point this time around will be 5g since we don't entice being, analyst are hoping to be the 5g super cycle where you have hundreds of millions of new phones being upgraded, right now the upgrade cycle are 3 - 4 years of people holding onto the phone a lot longer and you look at how apples priced which is priced for perfection. there could be holes in the theory and the spotty coverage in the u.s. might not be a game changer for 5g and remember the iphone five, the first lte device that we are on right now, that was launched in late 2012, so much hype, people thought this was a super cycle in sales in the lower margin disappointed that year in 2012 and remember that shareprice search 65% ahead of the 2012 super cycle only to be disappointed and sold off 24% for the rest of the year and

some say let's not hope for a replay of that. stuart: look what you did, you see what you did. susan: i don't think i did that. stuart: now it's down 1%. susan: keep her hopes intact. stuart: i think we got ray wang with us. the 5g phone from apple. can you tell me what the 5g apple phone would do for me, what would he do. >> the new foam room with anticipation as i will have faster chips, faster camera, bigger screen size, more 5g services and some of the 5g services allow you to stream video faster, allow you to take pictures and upload faster, gives you the ability to access more apple services streaming videos and other things are pushing out, it's like the foundation for all the additional services that apple has when it releases its

hardware, is not just the iphone, it's potentially a home pod and changes in the home pod market and that market is on fire, $36 billion by 2025 and apple is one of the underdogs in that market. stuart: a home pod, do you want to explain that to me. >> 's part and transport speakers, we sell 100 million units sold in the u.s., 200 million globally is one of the toughest markets, it takes a.i. and look at your speakers and part of the control part for your home automation, it is smart homes. stuart: i think i understand i did not realize a home pod was about smart speakers, i did not catch on to that but if it's a big thing i'll follow your example, would you buy apple at 122 right now? would you buy. >> definitely yes because of the super cycle you're looking at 360 million phones that are about to get change their over the next year end a half, that's under the billion dollar base but not every phone but also

every one of the devices from smart watches to the home pod to apple tv. don't know if they will release and apple tv as well. >> susan brought the stock down, you did not bring it up again but we will see you again soon. always a pleasure. stuart: johnson & johnson, temporarily suspending stopping in scope in 19 vaccine trial, stock down is 2%, tell me more lauren. lauren: this is apposite, one of the participants in their face three trial got sick, we don't know if that participant was given a placebo or the vaccine itself and now an independent review board is looking into this, in my opinion, i think what this pause does is reaffirm that when you get the vaccine, it will be safe, that's the most

important thing the public perception of safety is key to broad adoption of any vaccine, you do have a pause as a review by johnson & johnson, look it is not all positive, if you look at the forefront runners in the vaccine race, one of them was astrazeneca and they actually did have to temporarily hold their study in the u.s. if you forefront runners into or paused or halted, that is a big deal but nonetheless it will be done very safely going forward and i think that gives everybody reason for optimism. stuart: as the new york times says we make it through this faster because were moving on vaccine and treatment at warp speed. the new york times said that. thank you lauren. how about tesla we've been concentrating on apple and amazon and ignored tesla but there get it cut the price of the marble s, how much. ashley.susan: the long rate shoe cut by 4% days after they

recorded 39000 the catalyst for the stock as well. stuart: your big on percentage, give me a dollar decline. susan: 71990 is where you're going to buy the model s and the long-range, that is probably a higher end, down from 75000 so you get a discount of 4000 or 3100 or something like that, also the trimmed of the starting price in china by 3% in the model three by 8%, you're paying 36800. the point is elon musk want to get it to 300,000 by the end of this year end cutting the price might help them get there. stuart: 500,000 by the did they share. susan: he's a bit short right now. stuart: watch the stock go. let's talk disney. up three to half percent, and otherwise downmarket. i understand the reorganizing their focus to concentrate on streaming. lauren: they are doubling down

on content. that is where the eyeballs are, what they're doing in the reorganization, they will have two different units, one will be for movies, tv shows and sport content in the other unit is going to look at all the content and figure out how to distribute it and monetize it. when you look at disney+ and hulu the other streaming site, then at least 100 million subscribers and during the pandemic, that's where the eyeballs are, investors applauded the decision which is up and leading in the dow jones industrial. stuart: they are now competing with netflix, thank you. president trump back on the campaign trail planning 2 - 3 events per day, talk about energy. tim murtaugh with the campaign joins me in the 11:00 o'clock hour. 2 - 3 events a day, for a man who just left the hospital. joe biden out on the campaign trail, he seems unsure just which office he is running for. watch this. >> nothing can stop us, you know

we have to come together that's why i'm running i'm running as a proud democrat for the senate. stuart: no you're not. that was not his only gaffe yesterday, we will show you all of them, string them together. amazon prime day expected to be an all-time billion dollar cash fall, our retail guy is next on amazon. ♪ ♪ ♪

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stuart: i've got stock on this green, well over a thousand on my time, i been under believe there is news on shopify. ashley: very positive news, shopify handles the storing packing, shipping of goods for online sailors and it is

booming, of course the smaller businesses try to compete in the e-commerce world with the likes of amazon and walmart, shopify second-quarter revenue nearly doubled the number of new stores created on his platform it jumped 71% from the first quarter to the second quarter, businesses so good the company is border warehouse robot maker for 450 million bucks to help fulfill orders, the company is expanding the distribution warehouse network and plans to spend $1 billion over the next five years, shopify says covid-19 has essentially pushed e-commerce forward by ten years in the u.s. market for e-commerce logistics will generate an estimated $53 billion in revenue this year of nearly 23% from just a year ago. business is good. stuart: it is booming, that is a fact, thank you very much indeed. you have the story, singapore airlines turning is grounded

just sitting on the tarmac and the pop-up restaurants, i am fascinating because i like the food on singapore airlines. ashley: it is one of the best airlines in the world, and you know what airline food might not be considered cuisine but you can have reservation for lunch or dinner inside an airbus 380 and it's a hottest ticket in town, the planes are going anywhere, it's actually parked at the main terminal in singapore in the main airport there, the singapore airlines is using two airbus jets as unique restaurants and they sold out and just 30 minutes, diners can choose from a cabin class seat starting at $39, that is just for the seat, they can also watch a movie while they dine, the plane will be half-full for social distancing but it is not cheap, the price tag can approach $500. if that is too rich for your blood, their line is offering home delivery complete with a airlines cable where.

desperate times call for desperate measures, australia airline is offering sightseeing flights where you take off and land at the same airport, anything to generate money. stuart: terrific story. absolutely terrific, i'm not sure about the 500-dollar meal but very good idea. thank you ashley, good stuff. gerald storch is with us, retail guy, amazon prime date is underway, you know that. what do walmart and target doing they have to have something up their street intensely for prime day. >> ultimately of customers in the store shopping to succeed but for years, the big retailers need to use their stores as fulfillment centers, that is just what they are doing, they're really emphasizing the opportunity to buy online, go to the store and drive by and get a put in your car kind of a touchless type of delivery and also using stories as hubs where

you can deliver from the store to your house. that's what they're trying to do to counteract the enormous growth the amazon is seen. it will help somewhat, they cannot really make up for traffic that the stores lose because ultimately the stores were not built to be distribution centers, the picking is highly manual off the store shelves, if it's compared to d.c., sometimes you don't know what you really have in the store and when people go to drive by, for gets really crowded at christmas, can you imagine the jam in the parking lot. ultimately this is an add-on to what they do but it cannot be their main business, people have to come back to the stores for all the retailers to succeed. stuart: it seems with amazon with early prime starting today is creating a very early holiday shopping season, it seems like they are doing this so they can avoid the delivery mad rush in december. >> absolutely everyone is on their side and joining in and they have a sale online, we

don't stretch out this holiday season, too bad things will happen, we will have to deliver all the e-commerce package that are delivered the week before christmas and get them to people's homes on time and second people will rush the stores trying to shop and you cannot have that crowding going on in this environment. amazon moved there prime day from july, used to be like christmas in july, a funky kind of different holiday in the middle of nowhere to now really "primetime", the kick off for the holiday shopping season and everyone is joining into stretch this out. keep in mind amazon is so big online that it really can change the whole game for everyone, walmart and target together are only 15 - 20% of amazon size online that's why they ultimately have to get people in the stores to thrive. stuart: right again, amazon running away with again, that's exactly what is going on. thank you very much indeed, we'll see you again real soon. a navy veteran taken on democrat

congresswoman maxine waters with this ad. >> you know where i am right now, maxine waters 6 million-dollar mansion, do you know where i'm not right now, maxine waters district, that is right, maxine does not live in a district but i do. stuart: you already has the president's endorsement, joe collins joins me in the 11:00 o'clock hour, is a presidential endorsement of joe collins good or bad for him. we will ask, we will be back in a moment. ♪ incomparable design makes it beautiful. state of the art technology makes it brilliant. the visionary lexus nx. lease the 2021 nx 300 for $359 a month for 36 months. experience amazing. at your lexus dealer.

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aerotrainer's unique design allows for over 20 exercises for a total body workout, all while maintaining safe, correct form. now it's your turn to lose weight, look great, and be healthy. get off the floor and get on the aerotrainer. go to aerotrainer.com, that's a-e-r-o-trainer.com. stuart: take a look at draftkings, down a bit today but turned in an extraordinary performance recently. i want to bring in brad erickson who studies online gaming business. is draftkings the industry leader? >> thank you it's nice to be here. we believe they are one of the key leaders, vandal is probably the number one absolute market player in sports betting u.s. this far but draftkings is a

very solid number two, you put those numbers together and you're getting probably close to 70 - 80% of the market. from brand perspective and certainly having the capital to invest in growth, they are certainly one of the brand leaders. stuart: you have a target price of $70 a share on draftkings, there are 49.98 on your screen, make your case for $70 a share. >> very simple, these guys are going after an addressable market, somewhere between 30 - as much as $50 billion over ti time, for a portion of that which a sports betting, they've about 25 - 35% market share and for online gaming, we think they're probably attracting somewhere around the 10% range, you put those two together and you call it a 20 - 25% margin to be conservative over the longer term and more than justified $70 or higher depending on how quickly new states become unlocked when the online sports betting and gambling.

stuart: that's a big deal because a lot of us dates are becoming unlocked. i want to know how draftkings is doing in new jersey. i asked specifically not because i lived there but in new jersey draftkings has a lot of competition. there are about 14 other competitors in the same field in jersey, how are they doing. >> interestingly, obviously new jersey was one of the leading states that they had an online gambling for a long time so sports betting got started there in 2018 after the supreme court overturned the federal ruling on sports gambling in the u.s. what we've actually seen, smart competitors have come and, draftkings has maintained an uptick on the market share. from our perspective we think they're doing well at this point. stuart: $70 a share, i forgot to ask you when do they hit $70 a share. >> just as soon as investors choose to price it in, a lot of it has to do with when we think

about future cash flows and discount rates and where the ten year treasury lies, that can affect some of this, we are pricing in long-term eventualities but to the degree that these guys continue to execute in terms of maintaining market share showing the economics work and then they roll out other states. we think there is momentum that can continue there. stuart: you did not answer the question but great analysis for draftkings. >> a 12 month price target if that is helpful. stuart: thank you we appreciate you being here. next, the questioning is underway for judge amy coney barrett, the democrats are set on making this about healthcare, that will be the subject of my take which is coming up next. . .

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stuart: precisely 10:00 here in new york city. the markets, i wouldn't say they're mixed at moment. you have the dow down a mere 78 points. s&p down six. nasdaq up tiny fraction. six points. that is .06%. got to look at big tech especially after apple and amazon, prime day starts for amazon and apple in a few short hours they will unveil their new line of iphones. reporting today, earlier this morning citi, jpmorgan, delta, johnson & johnson overall these

were pretty good earnings reports as we start the earnings season. as for politics, that is what it is. starting on capitol hill, day two of the confirmation process for judge barrett. she has to answer questions today from the judiciary committee. if there are any headlines, i promise you will get them. and now this. the democrats have concluded that judge barrett will become justice barrett. that she will fill justice ginsburg's seat on the supreme court. they have also concluded attacking a mother of seven for her morals or her intellect will not go down well. so what do they do? they turn the hearings into an election platform. health care took center stage. by doing that, they showed what they really want from the supreme court justice. they want a politician. they want the supreme court to rewrite legislation. case in point. senator durbin, democrat illinois. he said the president wants this

nominee, judge barrett, to join him in eliminating the affordable care act. that is kind of political jujitsu. senator durbin brings up the election talking points. that is what he did. that is a little insulting. senator durbin dismisses an eminent jurist nothing more than the president's messenger. several democrat senators showed pictures of youngsters who they suggested will be victims if obama care will be overturned this is it a, absolutely irrelevant. it's a deliberate attempt to shift the hearings to a blatantly political election appeal. senators feinstein, booker and hirono, they pounded the health care theme, they all did. it was wall-to-wall election talking points. they convert ad judicial hearing into their own platform. today judge barrett will explain, patiently, that a justice does not write hedge shun, nor does she prejudge the

cases which may come to her. she has a and calm approach. good. that is an excellent response to frustrated democrats who see their dream of a supreme court as a super legislature going down to defeat. the second hour of "varney & company" is about to begin. ♪ stuart: all right. let's get to this. our guest has written this about the amy coney barrett hearings could provide the decisive vote against the use of race in college admissions. bill mcgurn wrote it. he is with the "wall street journal" and he is with us now. you say barrett has harvard and yale worried. explain, please. >> well, most people think it is because she has a degree from notre dame law, not harvard or yale like everyone else but the real reason they're afraid is that both those universities are

the subject of federal lawsuits. they're in the courts now regarding their use of race in college admissions. basically they're accused of discriminating against asian-americans in favor of other races. and with amy coney barrett, that is something they really have to worry about. they could face a 6-3 decision throwing out the way they use race, which is the way many universities use race. they're not unique in that. stuart: i think its outrageous. if you played by the rules -- >> you're right,. stuart: you have done whatever you have to do to get into harvard, yale, any place else, you should not be denied entry into the universities on basis of your race. i'm appalled at such a thing. in america? that's outrageous. how do you feel about this? >> right. you're absolutely right on this. look there is no doubt that they discriminate. when you look at admissions,

asian-american applicant has to have several hundred points higher than a white applicant or latino applicant or black applicant. it is very, very clear what they're doing. the problem up to now, there has been five cases before the supreme court last 50 years on this. they always punted, ruled very narrowly. never addressed the issue. john roberts in a case in 2007 did say the best way to stop discrimination on race is to stop discriminating by race which is i think the stuart varney principle. so a lot of these schools are very, very worried, harvard and yale. you know, it is interesting, you mention rightly the focus on obamacare. i think that they haven't focused on affirmative action because they know it doesn't poll as well, as complaining that amy coney barrett going to take preexisting protections, protections for people with preexisting conditions out. stuart: which is absolute nonsense to start with. bill, thank you very much for

being with us. love that article. let's reprint it, shall we? >> thanks, stuart. stuart: you're welcome. thanks very much. just a few moments ago you were seeing some video of the scene outside of the supreme court. the protesters have started. they have got bullhorns. okay, okay. i would rather see that outside the hearing than the constant interruptions which we got with the kavanaugh hearings because that was entirely disruptive. there is a limit how much disruption you can do if urbanned, outside where i think you should be. that is my opinion. scott shellady is with us. we're going to change the subject entirely at this point because scott shellady, the man on the right-hand side of your screen, has been out and about in america in the era of the virus and the lockdowns, safe distancings and the masks. i want you to tell us about your trip. go through it for us, will you? >> yeah. i had business to do over the holiday and sunday in charlotte. i flew from chicago to charlotte

and back. i was absolutely shocked. i was shocked the fact that the plane i was on was a new plane. number one the seats were smaller. i had to steak a stick of butter to grease the arm rest to get in the seat. every seat was like that. every person was like that. it was a sardine bus. shoulder to shoulder, six people across, with an eye between the three. i couldn't believe what i was seeing, that flies in the face everything we were told. maybe it was just that flight. it was the same way coming home. when i finally got to where i was going, strictly enforced two people per elevator rule. that elevator is 10 square foot box. the 10 square foot box on airplane, gets nine, maybe 12 people. what is happening is absolute hypocrisy, utter lunacy. this is happening. i had to think about it a long time. i had couple hours on each trip. you know what it boils down to, stuart, no governors in charge of the airlines. that's why. stuart: that is right.

i've got a silly question when you flew on the airline did you wear your cow jacket? >> no. but i wear something so people can kind of put it together, look at me weird, think that, i will give you the credit. they always say aren't you that guy on the varney show. they say my name, just yours. stuart: that is fine and dandy, scott. >> all right. stuart: on the same note about your trip, did you see "the new york times" article? we discuss got it. "the new york times" is saying we may get through this virus, this pandemic faster, much faster than expected, because of the action of warp speed, getting towards treatments and vaccines. this is the first time i can ever remember "the new york times" saying something positive about president trump's attempt to get us through this thing. did you see it? >> yeah. i saw a lot of things over the weekend. a lot of things i said on your show in march where i received death threats and pretty nasty

emails because of i didn't believe in this lockdown. we have to get through this disease. we have to get to herd immunity. that is what a vaccine is basically heart immunity. get through it faster. we're fighting psychological, one not economic one although morphed into as well. we have to get the american psyche back. they have to go out and about. that will bring being back my country again. the vaccine will not be the panacea but it will be the first psychological hurdle that gets us going. suite get through this faster, get the economy back up and running. these lockdowns, the w.h.o., w.h.o. came out lockdowns don't work. i said that in march. only commonsensical thing, now they're backing up with research i didn't even have back then, childhood malnutrition has doubled in the world and poverty has doubled in the world due to the lockdowns this year. so we've got some pretty huge consequences from making the mistake and hitting that kill switch too early. i think we all have to get used

to this. we'll have the cold, flu, covid season going forward. get on with your lives. make your own choices. stuart: yes, make your own choices. yes, indeed. scott, always a pleasure. thank you very much indeed. stuart: a walking commercial for "varney & company." i got to like that i got to say. sidebar story here, still on the airlines, southwest expanding service. tell me more, lauren. lauren: this is representative of the seismic shift in the industry. southwest is arguably doing better than the legacy carriers right now because they don't fly domestically. what they're trying to do is grab market share from united and american airlines specifically by specifically expanding next year and starting operations at the main airports in some of the largest airports in the country, namely chicago and heuston. so southwest entering those markets next year in a big way as united, american, some other bigger legacy carriers continue

to bleed money. they don't have international travelers right now to support them. so they are bleeding more cash arguably than southwest is. stuart: i can see that lauren, thank you. i have a story about airbnb. we've been waiting a long time for airbnb to go public. do we have any idea? susan: possibly late november or december, valuing itself as $30 billion according to the brian cheski, the founder and ceo. according to this to "wall street journal" feature, looks like they might be profitable compared to palantir and uber and others that have gone to market. they are chewing to keep costs down so they don't lay off anymore staff. they are going public at $30 billion that would be almost double the valuation they had to raise emergency cash this year at, 1billion dollars during the height of covid when their

business was decimated. stuart: they have gone up in their estimation to estimate of $30 billion. susan: yeah. stuart: interesting. brand new industry. brand new company. not brand new. interesting though. folks with, very a big show ahead for you. we'll be joined by joe collins, the california republican who is going viral because of his campaign ad culling out maxine waters. he has been endorsed by the president. he is on this show. of course, another biden gaffe. roll it, please. >> nothing can stop us. you know we have to come together. that's why i'm running. i'm running as a proud democrat for the senate. stuart: actually he is not running for the senate. i believe he is running for the presidency. he questioned voters who shade they are better off now than they were four years ago. we'll get into that brian kilmeade, of course. we're watching the markets, what a blue sweep would mean for your money. i think it would be bad news.

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♪. stuart: the president is very definitely back on the campaign trail. just look at the massive crowd of supporters that went with him in florida yesterday. how many people are we talking about ashley? ashley: we're talking thousands. it is very difficult to gauge the size of these crowds. but i can tell you, stu, the people were lining up 24 hours ahead of his arrival in sanford international airport which is

just north of orlando. look at these crowds streaming in. this original event was canceled because of the president's covid diagnosis. this was the first rally that he has held since that diagnosis. boy, was he fired up last night, very dramatically. look at these crowds, it is remarkable. he got off of air force one directly on to a stage. he started dancing to the village people's ymca, there he is. there he goes. better than elon musk, got to say. he is really moving it there. pointing to people in the crowd. he was really in top form. the crowd responded. there you go, a little bit of the presidential moves on the platform in florida. stuart: where he is headed this afternoon. another key swing state. he will be in pennsylvania this afternoon, another airport of johnstown, hour east of pittsburgh. he will hold a similar rally.

these are the key states. joe biden will be in south florida today, appealing to seniors. so they really are with three weeks to go hitting the swing states very hard. stuart: i would like to do a comparison of crowds. how many people will joe biden draw today, versus president trump yesterday, we never saw the end of the steaming line of people coming in ash ash i love to biden waving to people as he gets off the plane and there is no one there. stuart: that too. get back to capitol hill. the latest hearings for judge barrett are underway. hillary vaughn has been watching this. any fireworks at all thus far, hillary? >> well, stuart, there have been, at least subtle ones. really the tension between democrats trying to nail judge amy coney barrett down on how she would rule on certain cases or what her positions are on certain policy issues but she recited the ginsburg rile, back

to them, no hints, no forecasts, no previews. that is what she is going into today's hearing with. that philosophy has been frustrating for democrats on to answers what she thinks about roe v. wade. whether that case was appropriately decided. if she would, how she would rule on the upcoming case on the aca on november 10th. she is also asked if she would recuse herself from any decision making or hearing related to the affordable care act. she said, look, the precedent is, it is up to the individual justice and that justice then consults with their colleagues. stuart. stuart: hillary, thank you very much indeed. keep watching for them fireworks. there will probably be some at some point. next case, kiron skinner, fox news contributor who joins us now. kiron, i get the impression from what i saw yesterday, the

democrats are treating this not as a hearing but a political event linked to their hopes. what do you think? >> i was hearing with similar responses. i was truck by the fact it was coordinated effort. they were making the same points. they weren't making arguments. they weren't delving into the judicial philosophy and nuance of judge barrett but they were talking about kind of hot-button issues and how she would vote on them and what she would do to the country. how she would hurt americans who rely on the affordable care act but that was very easy to do. it would have been so much more difficult to say, let's take her on the merits. let's look at the nuance of her philosophy. let's actually respond to her own words.

i listened careful to her words. she talked about the straightforward ideas that come from scalia that she adheres to but she added a humanity to that point of view as well when she said something that seems fairly simple but is actually profound. she said statutes are named for the authors or legislators but court cases are named for the parties. so i have to think, she said, about the viewpoints of those that i'm judging. and i thought, there is a lot there that should be of interest to the legislators but they ignored almost everything she said. stuart: you know, we're watching the same thing and i distinctly remember watching senator durbin who characterize the judge barrett as nothing more than the messenger of president trump. i, that i just picked up on that. i thought that was slightly insulting. how about you?

>> i did as well and brings up another point. the democrats and many on the left talk about their commitment to diversity but it is often diversity on their own terms. she represents the diversity of america. she's a conservative woman and we know that conservative women and conservatives who are people of color like me often are maligned because they don't fit in with the diversity quota that have been established. she went to notre dame university and this would be someone who is not from an ivy league but from another great american university. we have many emerging, quote, unquote, ivies in different parts of the country. she is is catholic and has a huge family and is committed to her faith. they think that shouldn't be

part of our supreme court. that is much of america. that is really frightening to me, frankly. stuart: you're absolutely right, we should watch the hearings together if we would have almost the same reaction. i think we would actually. kkiron, thank you for coming on the snow. >> thank you. stuart: antifa, nothing to do with the supreme court, antifa is targeting portland businesses with pro-police owners. tell me more. lauren: john jackson owns the heroes cafe in portland, over the weekend, he said his coffee shop was shot at, damaged by antifa rioters during their day of rage. the reason his coffee shop was targeted because he is pro police. he is a military veteran himself. he has pictures of first-responders decorating the walls of the coffee shop. in the end all this does solidify his support for president trump, meaning as

americans go to the polls in a few days from now, law and order is very much going to be a topic that they consider. stuart: picking on them. thanks, lauren. get back to the markets, please. we have a new report, says the market doesn't think we'll get a blue wave. a blue wave would be democrats run the white house, the senate, and the house of representatives. the markets don't think we'll get that? susan: skeptical. stuart: you've got details next. we will take a commercial break. then you will speak after that. we'll be right back. ♪ i searched and found sofi and applied for a personal loan. i paid off my credit cards and felt a weight come off my shoulders.

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♪. stuart: look at those markets. we are down on the dow, down on the s&p. slightly higher on the nasdaq. not much change so far today but how about big tech? they had a terrific day yesterday. today, some of them are up again. i see amazon up another, almost 1% higher. i see alphabet up about half a percent and microsoft up one quarter of 1% up again all across the board. i want to bring in susan for a complicated story. okay? i'm reading this report right here. it says investors turn skeptical of u.s. democrat blue wave

victory. wait a minute. i don't get it. does that mean that they are increasingly skeptical about the chances of a democrat blue wave? that is what they're saying, right. susan: if you look at the stocks -- stuart: that they don't think we will get a blue wave,. susan: correct. that is what skepticism means. you have growth outperforming value and solar underperforming that is a sign that there is skepticism amongst the wall street community that there is going to be a sweep, a blue wave of the democrats coming in. that means taxes don't go up. that means tech doesn't get broken up or more regulated. that is exactly what wall street and strategists are saying. if you look at barclays and saxo, higher rates of tax means stock markets will fall 5% if that happens. stuart: i am glad to get some clarity, susan. you offered it. thank you very much indeed. susan: great. stuart: let's add to the clarity, with danielle dimartino booth.

former dallas fed advisor. danielle, i can't believe anybody on wall street would be happy about a democrat white house, a democrat senate, and a democrat house. can you? >> well, i think that there is something to be said for the happiness factor that deals with three, four, five trillion dollars of potential stimulus spending. and i think that is what has been the buzz among the bigger sellside investment brokers is already or not the stimulus spending would be so massive as to offset the potential increase in tax rates for high income earning americans. so i think that is, there is going to be a tug-of-war these last 24, 48 hours between the big name strategists at these firms but it is, stuart, you see what happens without stimulus, jpmorgan blowout earnings. fantastic report we're hearing from them. they predicted fourth quarter

gdp will slow to 2.5%. on top of that, if we don't get any stimulus spending on let's say january or february, you will shave another additional five percentage points off in terms of personal income to all americans which would flip the fourth quarter into the red which would not be perceived necessarily as positive. i think that is why we're seeing so much volatility in markets. stuart: let me tell you what i'm going to do. if there was a blue wave, democrat white house, democrat senate, democrat house, i'm selling. i will sell this year so i get, i've got to pay capital-gains taxes but they will be lower than the capital gains taxes i will pay next year. and i'm selling this year because i cannot believe that a blue wave would actually do any good for the stock market. what do you say? >> well, you know, stuart, there is something to be said for this. there are rumblings about federal, federal income tax rates going up, potential taxes

on passive investments that haven't even been harvested. there are really not enough details out, i think, on the part of the biden campaign to explain what some of these rumblings are, clarifications, certainly is needed. but the one thing that you have hit on, is that the potential for there to be a very bumpy december in the event we do have a biden victory because of that risk of capital-gains taxes increasing. and people saying look, stocks are the all-time highs. why would i pay more taxes in 2021. why wouldn't i take my chips off the table in 2020. stuart: not just biden win. democrat senate, house and -- >> get the legislation passed indeed. stuart: i would sell if we get that kind of blue wave. i will leave it at that. danielle, thank you very much indeed. i'm sorry i'm shouting and ranting. i feel strongly about these things. there you go. >> all good, stuart. stuart: thank you very much,

danielle. appreciate that. big smile. new numbers from california on virus hospitalizations. what have we got, ashley? ashley: encouraging numbers in the fight against covid out west in california. the number of people in the hospital with the virus right now is at a six-month low. the average number of daily deaths in the state is 5. that is the lowest since may. positivity rate, number of tests that come back positive, 2.6%. that is and all time low. california has been slowly allowing counties to open more business, giving restaurants, movie theaters and gyms the ability to open indoors in a limited capacity but california governor gavin newsom, says, yes the state is heading in the right direction but is warning about the upcoming flu season which he says could complicate the situation as more people stay indoors and possibly

transmit the virus but those numbers out of california are encouraging. stuart: they are indeed. thanks, ashley. staying in california, governor newsom is sending a team to reopen disneyland. interesting. what have you got on this, lauren? lauren: he is looking at a state, so sending a team of advisors. we don't know who and we don't know when they're going, but they're going to orlando. they're going to see to look how disney world is operating. when you think about it, there hasn't been an uptick in cases in florida link toddies any. disney itself has a team of medical experts guiding it how to make sure they can stay open and operate safely. in california, disney disneyland was supposed to open in middle of july. that won't happen. governor newsom, what is the word, they will do stubborn research to make sure when they rish guidelines to reopen theme parks in the state they will do

it the right way. still closed seven plus months. stuart: ah, california. thank you very much, lauren. this item we're including the producers put it on because of myself and ashley. the star of. of juventis, the soccer star renaldo tested positive for covid-19. you ever heard of him. susan: i disagree with that. the most followed person on instagram. other people have heard of him outside of soccer fans like you and ash. especially female variety. stuart: what position does he play. susan: forward, star forward. stuart: not bad. what have you got to say on this, ashley? ashley: shows you the fittest person in soccer would be cristiano ronaldo, if he can't handle covid, no one can. i'm surprised he is showing no symptoms but strike for

juventis, star forward. that was pretty good for susan. susan: that was pretty good myself, thank you. stuart: we're moving on. we're definitely moving on. biden continues to make gaffs, lots of them, this time he is going after voters? watch this. >> they think, 54% of american people are better off economically today than they were under our administration. well their memory is not very good quite frankly. stuart: voter memory in question. interesting. we're going to be talking shortly to kt mcfarland. she spoke to the president and he is getting ready to declassify everything related to obama and hillary role in the russia investigation. what's that about? kt next. ♪

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♪ stuart: the vaccine makers, always active, active today, mostly higher especially moderna. that is up 4%. have a look at johnson & johnson. they have paused their vaccine trial. one patient got sick. they will bring in an independent committee to find out what went wrong. that up with patient we don't yet know whether he or she was taking the vaccine or a placebo. a confused situation. the stock is down 2.4%. coming up in our next hour, health and human services secretary alex azar, he will join us and much more. president trump teasing that he will release more documents related to president obama and hillary clinton's role in the russia probe. kt mcfar land, former national security advisor. kt, you spoke to the president last about all of this. he said he will declassify everything. what are we going to see? >> i think you will see an awful lot. from my perspective, when i was

the deputy national security advisor and i went through the mueller investigation it was pretty clear to me there was political bias of the mueller investigators. what happened, was the deep state, whatever you want to call them, senior levels of the fbi, the cia, intelligence community, in cahoots with the media, decided they didn't like donald trump and they would do everything they could to stop his presidency dead in his tracks. and, more importantly, they kept notes, hand-written notes. they kept documents, text messages. that is what the president told me would declassify. even tweeted about it a day or two later. i will declassify it all. it will all get out there. no redactions, let the american people see it to decide. where is it, that is the big conundrum. why are they all dragging their feet? stuart: what a shame it has taken more than four years to even start mentioning this? i mean, i think, frankly it is too late to have an impact on the election, isn't it?

>> i do. i agree, i totally agree and that is not why it is important to do this. that is already baked into the election but it is important that the american people understand what the washington elite, what the washington ruling class, if you will, what they do and how they do it and if they don't like a leader, they just get rid of him. their attitude, stuart, is presidents come, presidents go. we're here forever. and if we don't like a president, we don't like his decisions, we'll throw sand in the gears, we'll delay, we'll obfuscate, we'll classify and nobody will ever be any of the wiser. that is the principle. are they in charge of america? do they get to decide who is president and what policies he follows? or are the american people? stuart: and, i just hope that they don't, if they have done something wrong, looks like they might have, they don't get away with it. it looks awful like at this moment they will get away with it. we don't want to see that.

>> yeah. stuart: kt, i'm out of time. as always great to see you. always. come back to see us again. >> thank you, stuart. stuart: good luck. all right, everyone, now this. more gaffs and memory lapsers from joe biden. they didn't get much coverage. again he misspoke saying he was running for the senate. >> nothing can stop us. you know, we have to come together, that is why i'm running, i'm running as a proud democrat for the senate. stuart: and there was an awkward moment when he couldn't remember mitt romney's name. he couldn't recall. so he just said, the mormon. then he was asked why 56% of voters believe they're better off now than four years ago and he said this. >> why should people who feel that they are better off today under the trump administration vote for you? >> well if they think that they probably shouldn't. they think, 54% of american people are better off

economically today than they were under our administration. well their memory is not very good quite frankly. stuart: interesting. he doesn't remember romney's name and voters have a faulty memory too. all from the biden files. all right. you heard what i have to say. brian kilmeade sounds off after this. ♪ our retirement plan with voya gives us confidence... ...so we can spend a bit today, knowing we're prepared for tomorrow. wow, do you think you overdid it maybe? overdid what? well planned, well invested, well protected. voya. be confident to and through retirement.

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♪. stuart: two big stocks that we really ought to follow today are apple and amazon. how are they doing, susan? susan: mixed right now. we have two big events. amazon prime day underway, the 4hour shopping extravaganza. for apple we're expecting the iphone 12 to be rethesed in a couple of hours. don't forget they had huge days yesterday. apple had the best day since end of july, reported record june earnings and four-for-one stock slight and three new iphones and 5g super cycle. if you look at the broader markets i want to point out americans might be doing better,

feeling like they're doing bet,er we'll in striking distance of brand new record highs. the dow is 2 1/2% away. the s&p and the nasdaq now just 1 1/2% away from record highs once again. stuart: awfully close i would say. you know what the time is? i do. we've got an atomic clock right here. it is exactly 10:51 on the dot. time for brian kilmeade. host of the brian kilmeade joe. i want to raise a couple of gaffs with joe biden. he is claimed he is running for the u.s. senate. he is obviously not, running for the u.s. presidency and questioned memory of voters now from four years ago. these gaffs were overshadowed by the hearings in supreme court and by a very energetic president trump. what do you say. >> president trump underlined them. yesterday he spoke for over an hour. in day 1/2 the president put together thousands of people in central florida by asking them to show up which is pretty

amazing. the drive-in event, with vice president biden says was responsible, got just about nobody. half a parking lot. and people showed up started chanting four more years. at which time joe biden came out and said i'm running for the senate. he could not think of mitt romney's name, that mormon who was governor. mitt romney who you ran against you forgot? i'm one of the worst with the short-term memory but i'm pretty sure i got mitt romney now. can you imagine a normal, rigorous schedule for nominee, stuart. he is on a zero schedule. if you're going to show up to do a couple of local interviews in front of 12 sedans, i don't know what the point is even leaving your basement. you're not getting familiar with the people. you're not knocking on doors. in this environment you can still do it in a responsible way. you're not meeting people or going to visit civic associations. why is even traveling? it is all window-dressing. my belief he thinks he won

already. i believe that third debate is in jeopardy. stuart: how do you explain the polls? the polls are widen in joe biden's favor when he is doing virtually no campaigning and the president is recovered from the virus is out of the hospital and the man is campaigning all over the country? how do you explain those polls? >> stuart, i will give you a couple of things. the president doesn't right now have the nra on his side. they have been sidelined with an investigation. i also think it doesn't help if you look at "the drudge report." they used to be honest consolidator of news. they are not even there. then you have money lacking in his campaign. i don't know what brad parscale is doing. he is out. the money is gone. the president was on the shelf for a week. didn't have a great debate performance. all this can turn around in 21 days. we saw it yesterday. we'll see it in north carolina and iowa. he will blue color it how he worked hillary clinton down the stretch. biden got himself into the

corner. schumer keeps saying we'll get rid of the filibuster. we'll pack the court. make d.c. a state. we'll have a permanent majority that is scaring a lot of people. joe biden can't answer one difficult question. i think it is up to fair and balanced journalists following him around to make him answer questions. make him answer this question, how barack obama's doctor, dr. david shire for years said, quote, he is not a healthy guy. and that was six years ago. can you imagine joe biden we're dealing with right now? not to be cruel. this is for the presidency. stuart: that is dynamite material you got there, brian. i'm out of time. thanks for joining us. we'll see you again real soon. thanks, brian. >> the race continues. stuart: we'll see if he can turn it around. i will show you sixth avenue. we do this a lot. largely empty as you can tell. it is raining. a little blurry camera lens there, very quiet. but the new york police department is warning we're going to see serious protests soon. you got more on this, ashley?

ashley: this is according to a memo stu, obtained by "the new york post." the nypd preparing for protests in the city as the presidential election approaches and as contentious supreme court nomination hearings begin for judge amy coney barrett. beginning october 25th, the memo states that the department will require most cops to report for duty in uniform, should be quote, prepared for deployment. the notice says this november 3rd, will be one of the most highly contested presidential elections in the modern era. it goes on to say there is a strong likelihood that the winner of the presidential election may not be decided for several weeks. the memo says police should anticipate and prepare for protests growing in size, frequency, intensity leading up to the election and likely it says into next year. we know new york saw violent protest this is summer over the killing of george floyd in minneapolis.

looters running riot in manhattan, attacking stores and torching police cars. the nypd putting out a warning things could get a little messy. stuart: we've been warnerred. big show ahead, alex murtagh, we're not slacking off. ♪

>> i can promise you, almost guarantee you, that people are going to go out and buy. so i want to continue to own this stock. >> you're looking at 360 million phones that are about to get changed through over the next year and a half. it's not just every phone that's sold, it's every one of these devices, smart watches, the home pod. >> it's the kickoff for the holiday shopping season. everyone's joining in to stretch this, to stretch this out. keep in mind that amazon is so big online that it really can change the whole game for everyone. >> i think the equity markets can make new highs as we slide into the holidays. even if we have some drama around the election, we all know

that we will have a president, and if the markets go down, i would be a buyer. stuart: the latest hearings for judge barrett are underway. >> there's a lot there that could be of interest to the legislators, but they ignored almost everything she said. ♪ stuart: a little party fever. what's that say? party never? is that right? >> yeah. stuart: yes. upbeat. i like the rhythm there, or all good. now, if you missed the first two hours, you're all caught up. you saw that montage. it's been a huge morning so far, and we've still got a whole lot more to cover. on deck, health and human services secretary alex azar, rachel campos duffy. first, though, check those markets. we're 90 minutes into the session, and we've got the dow down a mere 81 points.

remember, it was up 250 yesterday. the nasdaq is still up about 20 points. the s&p down just a fraction. that's the state of play. and now this. to the good people of illinois, watch out. your governor wants to put your state into the taxation separate spear. governor pritzker unable to pay the pension of retired government workers, proposes a big new tax on the rich. he's raised taxes on just about everything and everyone, why not have a go at the rich? by the way, he wants to raise corporate taxes as well. if he gets it all, illinois will be just behind new jersey, new and california in the ranking of worst overall tax burden. that's according to the tax foundation. notice something here? all those states are run by democrats. and more importantly, all of them are seeing a mass exodus of people and money. the outflow is going to get worse, especially in the era of

work from home. there are all kinds of jobs you can do online in nevada, tennessee, texas or florida just as well as you can do them in new jersey, new york, california or illinois. your move. which brings us to speaker pelosi and candidate biden. the speaker demands a bailout. she wants your money to cover those states. those states' bad management, i should say. joe biden wants those high democrat taxes to be deductible. that will be another subsidy by you taxpayers. when you try to figure out how bads it is, check the real estate market and check where people are working from home. house buying is already surging in low-tax states and work from home is taking off too. the exodus will be a very big story in 2021. the thursday hour of "varney & company" is about to begin. ♪ ♪

stuart: as you look, as you look at the market's performance, it's kind of mixed. let's bring in market watcher bruin bell sky. i want to -- brian belski. i know you're bullish. i why are people buying so vigorously? very close to all-time highs. why are they buying? >> good morning, stuart. we think that the market continues to be, meaning the u.s. stocks, continue to be the most attractive asset in the world when you have literally cheap money or zero interest rate money, you have to put your money somewhere. and given the fact that we do think that bonds over the next few years will ultimately be the big, the larger risk category especially as real rates return to negative, stocks are the place to be. we actually think investors are-up creates right now because, for the most part, the investor conversations are really transfixed on this notion that joe biden's going to be the

next president, we're going to have a blue wave, yet they're buying stocks. i think, again, if they're worried about a democratic wave, why are they buying stocks? again, they're hypocrites. that's why we continue to think politics is have nothing to do with the performance of the stock market and meaning people are pawing way too much attention to -- paying way too much attention to politics with respect to the market. stuart: brian, do you believe, as i do, that the stock market is no place to be? >> i wouldn't go that far in terms of making that type of binary conclusion, stuart. i don't think markets or investing always sell, always buy or either/or. i think the bull markets continues, stuart, even with this, quote-unquote, blue wave. but the construct of what we're going to be investing in is going to look very different. stuart: okay. goldman sachs says a vaccine is more important for stocks than the election.

what do you say? >> per our point that we don't think politics has anything to do, we new it enhances or detracts based on the policies. we think most importantly is the stimulus side of things, zero interest rates and the mere fact, quite frankly, that, again, this is the most hated bull market in history. no one's really believing it. we continue to see nine off the ten stories where the -- out of ten stories with respect to the market being negative. the first thing you're asking people all the time is why are you so cautious on the market. we have the best companies in the world in the prelude to this hit, you talked about apple. apple's one of the best companies in the world, and we don't champion that enough. stuart: okay, i always call you bullish brian belski. i take it you are still bullish. you still think stocks are going up for a couple years more, if

i'm not mistaken. >> we do. we actually think the second half of our 20-year bull market started on march 23rd of this year. we've seen volatility so far in 2020, cleary since march 20th -- clearly since march 20th, and we are going to see volatility surrounding motions and rhetoric with respect to the election. but i think the largest risk that investors face over the next down can of years -- couple of years is when and if the fed begins change its tone with respect to interest rates, and i still think we're several quarters away from that. stuart: got it. brian belski, see you again soon. thank you, sir, appreciate it. always. >> thank you. stuart: the campaign trail, trump team planning 2-3 events per day all the way up toll election, at least that's what we hear. bring in tim murtaugh, trump 2020 correcter of communications -- director of communications. is that right? are you really planning 2-3 energetic, energy-packed events

day until the election? are you? >> i'm not going to get ahead of the announced schedule, but i think you saw evidence of it last night, stuart. the president is going to be hitting the campaign trail with energy and enthusiasm, going to be in pennsylvania tonight, moving on to des moines, iowa, on wednesday and greenville, north carolina, on thursday. and on friday, two events, florida and georgia. there's no way that joe biden can match the energy and the enthusiasm that the president has. we saw a campaign event in arizona just the other day. there was a local tv reporter standing outside, and she said it's kind of boring out here. there's actually no one here. that's not to say that there was a small crowd. stuart, there was no one. and this travel schedule of the president's and the biden sleepiness that we continue to see just shows the incredible contrast between the enthusiasm behind the president's re-election and the sleepy campaign that joe biden is running where no one, and i mean no one, is computed about joe biden -- excited about joe biden. stuart: joe biden says the

president has failed american workers. hang on for a second, tim, i'm going to roll some tape. >> all right. >> yes. erratic tweets and bluster that's only stiffed american workers and consumers including farmers. he's let you down. i will stand up to china's trade abuses, and i will invest in the american worker. stuart: tim, i think you heard that. what do you have to saw about it? >> well, in order to believe that from joe biden, you would have to ignore his 47 years of fall your and rolling over for china. he has always put china's interests ahead of the american worker. he argued for most favored nation status, he got china into the world trade organize. that cost america 60,000 factories and 3.5 million jobs. he was in ohio yesterday, and he's going to be in florida today, joe biden. in ohio before the global pandemic that china, by the way, unleashed on the world, the president a had the unemployment rate in ohio down to 4.1%. while biden was vp, the average

over his eight years was 7.5. in florida the presidented had the unemployment rate down to 2.8%. the average over all eight biden years was 8%. in fact, today the unemployment rate in florida is already down to 7.4. that's lower than the average of the eight biden years. the president has built the world's best economy once, he's already doing it a second time. joe biden has been an abject failure. he voted for nafta which shifted 850,000 jobs overseas from this country. he's been palling around and rolling over for china. now he wants to raise taxes by $4 trillion, and the green new deal biden mentioned farms there? the green new deal places incredible regulation on every person, business, building and farm in this country and will take away farmers' ability to use their own land to grow crops and prosper. joe biden's record is a disaster, and he he knows it. for him to go out on the campaign trail and talk like

that is just shameful and absolutely ignorant of the 47 years of failure. stuart: all right, tim, i think we're going to end it right there. tim murtaugh -- >> thank you, stuart. covered a lot of ground on that one. stuart: you dud. that was pretty good in three minutes. not bad at all. thanks very much. all right, everyone, now this. i was watching apple's stock take off. i don't own it, missed it, but it was fun to watch a major league wealth-spreading event. you see, apple's stoke is the most widely held on the planet. that means more people own apple stock than any other. you could own it through a mutual fund, through an index fund, through an etf, or you can own it yourself outright. if you've got money in the market -- and 100 million americans do -- you've got a piece of the action. you owe a part of a $2 the.1 trillion -- 2.1 trillion company. it's the most valuable company in the world and probably the most influential, at least that's what i'm getting from my

colleague susan -- [laughter] who says it's the most influential. >> 1980 on the s&p 500, represents about 5% of the s&p index which is the largest that we've seen in decades. stuart: now tell me about these phones which are about to be revealed, because i don't think anybody's seen them. they've not given them to anybody to test. >> no. it's a virtual father this year, and don't forget about the production delays because of cocovid. outside probably of apple's top leadership team, i don't think anyone's seen these new phones. but the consensus is we're going to get three different sizes, better cameras and, get this, it's going to be flatter square edges, think of a smaller ipad. if we can bring up the mock-up, look at that. the biggest redesign since 2018 when the iphone 10's facial recognition screen came out. a big selling point this year with is 5g. the super cycle, that's what analysts are hoping for, that this new phone will help kick start it where hundreds of

millions of new phones will be upgraded. given the spotty coverage in the u.s., it might not be a game-changer here at least, and there might be room for disappointment. remember in 2012 with all the hype around the iphone 5 which was the first apple lte device, that was supposed to start the first super cycle, but it failed to live up to the hype, and apple's stock ran up just like it did this year up until that introduction of that device, and it fell into year's end. there is room for disappointment, but also take a look at tim cook's tweet in this morning. this just came out a few hours ago talking about a music playlist, and this is probably a hint to this year's one more thing at the launch event which is the over the ear apple headphones, and a smaller, cheaper how many pod speaker to compete with amazon. stuart: just a little hint about three hours before you get the actual stuff itself to see.

all right. thanks, susan. "the new york times" publishing a story that says the pandemic could be over sooner than expected. health and human services secretary alex azar will comment on that. he's on the show. judge barrett is facing questions from the senate as of now. we're monitoring it. we'll bring you the highlights. and a california congressional date is going viewrl. -- candidate is going viewrl. we're going to show it to you again. here's the viral ad. watch this. >> you know where i am right now? maxine waters' $6 million mansion. do you know where i'm not right now? maxine waters' district. stuart: that's joe collins. he's taking on maxine waters, and he joins me after this. ♪ it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app

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♪ liberty. liberty. liberty. liberty. ♪ ♪ ♪ >> you know where i am right now? maxine waters' $6 million mansion. do you know where i'm not right now? maxine waters' district. i'm joe collins. i'm running for congress against maxine waters. stuart we thought we'd run it so many times because it's so good. let's bring in republican and navy veteran joe collins. first of all, joe, welcome to the show. and has maxine waters responded to your ad? [laughter] >> you know what? thank you for having me and good morning. no, maxine waters hasn't responded to really anything, not even our request for a debate which is, you know, it's not surprising. but at the same time, you would think for someone who was in an office for so long, you might want to give the constituents, you know, a debate that they want to see.

stuart: president trump has endorsed you. is that a problem for you in california? >> i don't think so. i actually new it's a good thing. you know -- think it's a good thing. you know, 20/20 is hindsight, and it's about time that the inner cities, especially los angeles, see that we have a president who is willing and wanting to back, you know, someone who wants to rebuild the black community. as you know, the president laid out husband black agenda -- his black agenda, the $500 billion that is supposed to be coming to the black community, and one thing that concerns me is that maxine waters has been in office for a very long time, and she has proven over and over again to be a crook and to, you know, utilize the benefits of the government to enrich herself and her family without providing any type of substance for the community. and so we have to be able to vote maxine waters out of office so i can utilize the programs and the bill that the president has signed into law in order to improve our community. stuart: does the president get a fair shake in california or in the black community in

california? >> absolutely not. i don't think even the black community gets a fair shake, and the reason why is because there are so many democratic politicians that hate the president, they would never allow anything positive that he does to even get to the inner cities. we can look at criminal justice reform, opportunity zones, all of these things. no one in the inner city is hearing it. so i would encourage the president, you know what? have a rally in the inner cities and let people know what it is that you are doing for them, let people know what you have been doing for people so that they can see this. these democrats do not care about our community. stuart: what does your military background bring to your candidacy here? >> i would have to say this, the experience and the leadership qualities that i have learned in the military will be an absolute plus when it comes to moving our communities forward in a positive and productive manner. stuart: do you think, i mean, silly question, but do you think you have got a shot at winning?

i ask because maxine waters has been entrenched for, i think, decades now. and turning her out or beating her is going to be very difficult. do you expect to win? >> yes. you know what? we actually do expect to win. the reason why is because there has never been a candidate in the history of the 43rd district to run against maxine waters to actually give her a run for her money. we've seen a lot of people do it who would be famous, but when it comes to improving the quality of life, there has never been a candidate like me to run against maxine waters and to actually get her on the ropes as she is right now. so, yes, we absolutely expect to one. stuart: okay. joe collins, thanks for joining us. we wish you the best of luck, and we'll be following the election are closely in your district in california. joe, thank you, sir. >> thank you so much. stuart: the bad news just keeps on coming, doesn't it? i think we've got a new report

about amc running out of money. give me the story, lauren. >> yeah. they could run out of money in two months, by the end of the year. this is the world's largest cinema chain. they've got to do two things, more butts in the seats. it is very hard to do that with limited capacity and not much to show people who want to go to the movie theater, right? or they could raise money, renegotiate with landlords, sell assets, but their cash fund's largely depleted, that is a quote, and they could run out of money by the end of the year. and you know what? the disney news from last night, that they're now centering their business around streaming and content that they could put on streaming, that's not necessarily good for the movie theaters either. stuart: right. they want movies in the movie theaters as opposed the streaming. i got that. lauren, thanks very much. now, on that subject, disney is -- it's part of the streaming wars, obviously. and a research firm says that disney's stock would be a good buy, that it's cheap at the

moment. >> yeah. well, look at the rally today. we have loop capital reporting a buy now, putting a buy label on disney after that reorganization yesterday saying that disney's now worth $150 in their view. so as we mentioned, we had disney plus, of course, at the center and the focus of this reorganization. disney plus already has around 60 million subscribers at the end of nine months of operation. compare that to, what, 160 million in netflix, but it took netflix 13 years. so this reorganization only took place at disney though, and i don't know if this is concerning, some say it is, that it took a hedge fund manager, dan loeb, with a threatening letter and pushing disney to reorganize to focus on streaming and save their $3 billion dividend payouts each and every year. also concerning the new head of distribution doesn't really have a lot of streaming experience. but, look, this is the future, right? it's no longer just the espn, the cable companies especially

with all the cord cutting. stuart: so you're questioning bob iger's leadership? >> the executive chairman. more the day day-to-day falls into the ceo's hands. it shouldn't take a hedge fund manager to push them to do this. stuart: fair point. thank you, susan. all right, did you see this? back on the campaign trail, the president dancing at his rally in florida. in just a few hours, he'll be back on the stage in pennsylvania. i've got to believe that fracking's going to come up in pennsylvania which is a big fracking state. we're going to talk about it with congressional candidate sean parnell of pennsylvania. democrats painting judge amy coney barrett as an extreme threat to the affordable care act. is that justified? we'll discuss next. ♪ ♪

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really are trying to get a firm answer or a commitment out of judge barrett on how she would handle any cases tied to the election if she were income nateed to the high court -- nominated, and some of the reasoning and questions have centered around the president's comments indicating how important it is for him to nominate an additional justice to the supreme court so that they are on the bench when these decision decisions come up about mail hundred voting, ballot disputes or an overall consideration of the outcome of the election. >> does the constitution give the president of the united states the authority to unilaterally delay a general election? >> so, you know, if i give off the cuff answers, then i would be basically a legal pun cut, and i don't think we want judges to be legal pundits. i think we want judges to approach cases thoughtfully and with an open mind. >> okay, let me try something else. >> reporter: stuart, they did get a firm comment from judge

barrett essential huh saying that she believes the courts should not be politicized. so any discussion from the president about the importance of putting a justice there simply to rule on a ballot question, she essentially said she disagrees with that narrative. stuart? stuart: all right, hillary, thank you very much, indeed. i want to bring in rachel campos-duffy, old-time friend of the show, longtime friend of the show, i should say. rachel, welcome back. good to see you. >> thank you, stuart. stuart: doesn't seem to me that the democrats want to attack her vigorously -- >> no. stuart: after all, you've got a problem attacking the mother of seven with two adopted children with a brilliant legal mind. i think you've got a problem doing that. i don't think they've laid a glove on her so far. all this political maneuvering, i don't think it's working. how about you? >> no. well, first of all, they kind of outsourced a lot of the mean stuff to the trolls on social media because i think they learned from kavanaugh, which was basically a freak show, that it's not, it's not helpful for them.

it hurt them. and you're right, the fact that she's a woman, is a mother also complicates the attack as well. most importantly, she's smarter than them. she has been dodging all of their little traps brilliantly, and we ought to be really proud that our country produces this caliber of a jurist and of a human. she -- i don't know if you saw this this morning, but senator corps none was questioning her and said what's in front of you right now? and she pulled up a piece of paper, blank piece of paper. there's nothing there. she has no notes. she's brilliant, and so they can't attack her on her experience, on her intellect and on her qualifications to be on the court. stuart: it certainly isn't a freak show. it is nothing like kavanaugh, nothing at all. >> no. stuart: and i hope it never is, because that was a disgrace, in my opinion. >> sure was. stuart: according to "newsweek," the biden campaign is targeting

latino men with a new ad campaign push with celebrities including comedian george lopez, i believe. is that going to work? i believe you're of hispanic background yourself. >> yes. stuart: is that use of celebrities going to work? >> i don't know if it's necessarily the celebrity. so biden is doing this because he's slipping with hispanic men. hispanic men, you know, they're not -- hispanics in general are not unicorns. they want the same things as every other american wants. and so, you know, strong economy, they want less -- lower taxes, they're the most entrepreneurial demographic in america. so a lot of, a lot of the small business message has worked for hispanics. and they are the working class. so the working class trade policy, china messages work with hispanics just like they work with working class white americans as well. so while trump can be a little butt harsh for hispanic women, hispanic men seem to be a lot more tolerant of trump's style, and so it's working.

and so what the biden campaign is doing is trying to craft an economic message using these comedians. what should worry trump is that the biden campaign has a lot of money, and the fact that their able to micro-target right now in these last few weeks, it may be too late, but it could actually work because money is power in elections. people, you know, raise a lot of money because it works in elections. and so, you know, trump's message is good. i don't think biden's message -- which is, frankly, globalist policies and his running mate's socialist policies and the loud voices on the part, in the democratic party that i think are probably going to control him if he is elected, i don't think that's a good message. but he's probably i trying to pretend like he's not a globalist and that the party is not socialist to reach these latino men. stuart: you're in wisconsin. just give me 20 seconds on the state of play. >> sure. stuart: is it going for trump again by a fraction or this time for biden? which way's it going?

>> it honestly is a 50/50 race, and i think it is a get out the vote campaign. whoever can get their people to the polls will one. on the ground it feels very like there's a very big enthusiasm gap between biden's folks and trump's folks. so let's see who gets their people out. if i had to guess, i would say trump will eke it out. stuart: i'm sure you will. [laughter] see you again soon, thank you very much, indeed. rachel campos-duffy. >> thanks, stuart. stuart: remember the manufacturer coming to wisconsin? foxcom? i believe they've got a problem with tax credits. what have we got, ashley? >> you're absolutely right, stu. back in 2017 wisconsin's legislature aagreed to provide foxconn with up to $2.8 billion in tax crept if the company meant certain investment and hiring goals. well, they planned to create a

manufacturing facility with the promise of creating 13,000 jobs. three years later and wisconsin says foxconn has failed to meet that criteria and will receive no tax credits unless it changes its strategy. but in response, in a statement from foxconn, the company says it is disappointed with the decision and claims to have reached, in fact, certain employment goals while investing $750 million in wisconsin. the company points out, foxconn, that it is already the largest taxpayer at its facility in mount pleasant, wisconsin, making $8.4 million in tax payments just at the end of last year and will make a bigger payment this year. clearly, they need to go back to the negotiating table, stu. stuart: i guess they do. all right, thanks, ashley. if you look at the markets right now, you've got a small loss for the dow and the s&p, modest gain -- half percentage point

for the nasdaq. susan, are we close to record highs? >> we are within striking distance. just a few percentage points away. we know the dow sits around 2.5% away from record highs once again, so just roughly around 1.5% or so for the s&p and nasdaq. that gallup poll, 56% of registered voters say they feel better now than four years ago. also quickly brung up this trump tweet on stimulus, this may have turned around the market, at least lifted it a little bit. still again, go big or go home, which might be contradicting the senate majority leader, mcconnell's plans. stuart: that tweet just came out, and it has made a marginal difference. we're down 80 on the dow as we speak. fracking, very important issue, especially in pennsylvania. it's very hard to know where joe biden stands on that issue, fracking. roll tape. >> i am not banning fracks. >> would there be any place for

fossil fuels, including coal and fracking, in a biden administration? >> no. we would work it out. stuart: well, look, fracking is a major issue in pennsylvania. it is a fracking state, so what should we believe from the candidate? congressional candidate sean parnell will join me on fracking in pennsylvania and biden, next. ♪ ♪ flexshares are carefully constructed. to go beyond ordinary etfs. and strengthen client confidence in you. before investing consider the fund's investment objectives,

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the gap, sean parnell, republican pennsylvania congressional candidate, joins us now. sean, the president's on his way there today. i guarantee he talks about fracking when he's in front of the crowd. do you think that will turn the polls around, fracking in pennsylvania? >> well, i think so, stuart, because people in pennsylvania, especially in western pennsylvania where i'm running, they remember what it was like under president obama and vice president joe biden. this state got crushed under their economic policies. i mean, and so what does that look like from a jobs standpoint? the state of pennsylvania lost over 51,000 manufacturing and oil and gas jobs under eight years of barack obama's tenure, and so people remember that. they don't want to go back to that. and in just three short years, president trump has brought our economy back here in western pennsylvania, brought all of those jobs back really plus a net 13,400 people are now working in western pennsylvania

that didn't have a job before president trump won in 2016. and so i think people remember that. and when president trump gets here, he's absolutely going to talk about that. stuart: what's wrong with the polls? i mean, why -- >> yeah. stuart: that's a big gap, an average 8-point gap is a big gap with three weeks til the election. how do you explain that big gap? >> it's a great and absolutely relevant question, stu. but the polls in 2016 had him down by about the same amount in the state of pennsylvania, and president trump won the state of pennsylvania, just eked out a victory of 44,000 votes. now, i do think that there is a disconnect between the polling and really what's happening on the ground here. president trump -- pennsylvania is trump country. everywhere you go people are enthused about this president. i'm theming you, the guy -- telling you, the guy had 15,000 people at a rally in latrobe, several thousand people here in my district, when he goes to

johnstown it's going to be more of a same. if you look at the conditions on the ground here in pennsylvania in terms of voter registration, republicans have registered over 160,000 new voters since 2016. republicans in pa-17 are winning the registration fight against the democrats for the first time in a long time. so the state of pennsylvania by the numbers is actually more favorable for the president today than it was four years ago. stuart: okay. sean parnell, we will be watching. thanks for joining us this morning, and good luck -- >> thanks, stu. thank you, stuart. stuart: something extraordinary from "the new york times." they have published a piece saying the pandemic in the u.s. will be over far sooner than expected. that's "the new york times"? health and human services secretary alex azar joins us next. ♪ ♪ so you're a small business,

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stuart: we have a nice rally in moderna, up 3.5%. lauren is going to tell us why. >> has to do with canada. thur on track to have 56 million doses of the vaccine by 2021. a phase one trial well tolerated in all the participants, it has

been submitted, that data, to the canadian ministry of health which has accepted it. all of this is good news. as for phase three, it is almost fully dosed here in the u.s., and we await those results, stuart. stuart: yes, we do, with baited breath. all right, lauren, thanks very much. now this, "the new york times," i repeat, "the new york times" publishing a piece that says the pandemic, quote, will be over far sooner than expected. in that article experts credit operation warp speed as working with remarkable efficiency. well, come on in, alex azar, secretary of health and human services. that's extraordinary, that that should appear in the new york times. high praise for the warp speed effort. but i notice they don't give any credit whatsoever to the president. i wasn't expecting them to do that, but i'm surprised that the article appeared in the first place. what do you make of it, sir? >> well, it's a remarkable concession that president bush's leadership of operation warp

speed is delivering results, and it's going to give us so much hope for the future. i mean, this was president trump's challenge as a leader. he said those normal timelines that drug companies have not acceptable. put the whole financial power of the u.s. government behind it, bring the logistics and operations and defense production act powers of the u.s. government behind it, speed things up while not cutting any corners on safety and efficacy, and as a result, even "the new york times" is saying we're moving with remarkable efficient i city, and it's going to give us great hope for the future as we think about the months and year ahead. stuart: i hope they don't retract it. [laughter] i'm being facetious, i know, but i can't resist. johnson & johnson pausing their vaccine trial. one participant got sick with an unexpected illness. how will this affect the present vaccine timeline over all? >> so it shouldn't impact our timeline at all at this point. what we see with these trials like johnson & johnson's is

they're being scrupulously careful looking out for patient safety. as i said, we're not going to cut cut any corners. and i think those who have concerns about vaccines generally should be reassured, actually, by this. this shows that the system is working. a single case of a possible adverse event, and they stop the trial? they check to see was that patient on the vaccine or a placebo, is there a reason to believe there's a connection between whatever that individual suffered and the vaccine. those, this is quite common especially in vaccine clinical trials, and they usually get results rather quickly. but we are proceeding ahead. we've got six vaccines that we've invested in or contracted with. we've got two that are almost completely enrolled in terms of their phase three trials, and we'll hope to get data relatively soon. stuart: can you give us a big picture update on the state of the race for a reliable and distributed vaccine? where are we? >> yeah. so, as i mentioned, pfizer and

moderna, they are almost completely enrolled. at this point it's really just a matter of waiting to see if they get enough events. so they need people in those trials to actually get covid, and those need to be people who didn't get the vaccine. and when enough of those people get covid who didn't get the vaccine, there's a kickout from the data and safety monitoring board of the data to the company and the fda. that could happen really in the next several weeks to months, really just depends on the course of the disease in those trials. what we're doing at the same time is manufacturing those vaccines. all six of the manufacturers, we are making vaccine as we speak, millions of doses, and we expect by the end of this year to have close to 100 million doses of fda-approved vaccine, enough to make sure we vaccinate those most vulnerable by the end of january, advantage any sate all of our seniors, health care providers and front-line emergency workers and enough for every american by the end of march to early principle.

stuart: end of march, early april, enough for everyone. would that be a fully tested and reliable vaccine? >> this would be, these would be vaccines that have made it through fda's processes, their independent, career scientists' judgment that they meet the statutory and regulatory criteria for use by the american public. so i think the american people should feel very reassured by the multiple levels, there are at least five different independent checks here to insure that a vaccine meets the standards the fda has set. stuart: mr. secretary, always a pleasure. very informative. thanks very much for being with us, sir. we do appreciate it, thank you. >> thanks, stuart. stuart: yes, sir. there's a new report just out telling us how much this pandemic is costing. i mean, there's a dollar number. it's a huge number, lauren. what do you make of it? >> $16 trillion, stuart. sorry, i was just writing the

producer e an e-mail. $16 trillion is four tiles what the great recession back in 2008-2009 cost us. this is a study put out and is co-authored but larry summer, top economic adviser to president obama. it takes into account death rates, injuries and ailments that could last longer because we still don't know the long-term effects of all of this. but it doesn't take into account the treatments and vaccines that we were just accounting or fiscal stimulus, a, that already came and, b, that might still be coming. stuart: absolutely fascinating of. $16 trillion. all right, good report. the market shows a mixed bag here. we're down on the dow, up on the nasdaq. more "varney" after this. muck flush. ♪ ♪ before nexium 24hr,

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>> two, one. [engine noise] >> look at her go. stuart: that is jeff bezos' space company blue origin, landing by the way, space tourism rocket. the new shepard as it is called. susan, have i got this right? bezos wants to colonize space with space capsules flying around.

>> space colonies. stuart: but musk wants to settle people on mars? >> they're spending a lot of money investing in it. stuart: it is their own money. nothing wrong with that. >> i would rather have space colonies. stuart: i think i'm with you. i don't want to live on mars. time's up for stuart. time is starting now for neil. it is yours. neil: thank you, stuart, very, very much. at corner of wall and broad the dow is down6 points. the earnings parade is starting today. even though most of the banks front and sent irin focus today, reporting easily beating estimates it is not all about them. technology, you can see with the nasdaq there, that is ault not that far from a record as the pace it is going. amazon greasing the skids as it was yesterday. apple in and out of positive territory. apple with the big announcements today everyone is focusing on. four different new iphones. i think they're calling it 12 models that will be r