especially before the election. forget that. we'll see if anybody getting anything after. stuart: the fed will print a ton of money. susan: that's right. >> will the democrats shell out a bunch? i'm sure mr. trump will. the dow is 725. it is falling as we speak. time's up for me. neil, it is yours. neil: thank you very much, stuart. i think it is the virus. the virus is the virus. everything goes around that. we have a lot of worries in the virus, the spike of cases, took a look at average number of daily new cases to the virus. that is the dow at session lows. not everyone is taking it on the chin though. we'll go into little bit more detail how technology is by and large skirting at least this percentage hit we're seeing in almost all other issues. s&p, up 500 sectors. all 11 of them, the big ones are down. technology including. there is not as much. one of the interesting

developments here that the fear, that even the seven-day average, something they sort of even things out that also is running at its highest level yet, averaging 69,000 cases per day, if you average it out over seven days, it has never been that high through the pandemic. we're looking at justments whether this is a case of new testing going on. that is part of it. what we found out with the new testing, that the percentage of cases testing positive has now moved about 6 1/2% from around five .25%, which was kind of the average over the last few reporting squeaks. we're looking at that. this is not a case of just testing. it is a matter of a spike in positive cases. stuart was telling you as well, other things weighing on the market is what is happening abroad. we've been able to confirm a couple things. spain it looking at renewed lockdowns and that might reimpose restrictions, some of

which haven't been around since april or may of this year. france is looking at the highest number of cases in europe right now, the 52-week highest on the planet. italy is looking closing theaters and gyms, a host of other public establishments from 6:00 p.m. onward. it might extend that to all day. right now it wants to see where this is going. then there is ireland. it is in the middle of what they call rolling lockdowns. the same exists for the greater uk. we put this all together because that is really what is jarring these markets. you know the drill, when we have big market selloffs, we want to keep the numbers, everything coming at you as fast as possible. whether it matches the person with whom we're speaking or not and one of the things we do see that there is a tendency to pounce on the negative and not step back and see the positive like generally good corporate earnings, also more companies than not are weathering this whole virus thing better than thought. it is a fear we return to

something bad. not necessarily countrywide lockdown or shutdown. something akin to europe or it rolls along. we'll detail that. we'll show you what is going on. we'll show you some individual issues and by and large we're avoiding this. amazon was a good example early on t was flight to quality. people going to that in the event they do reshelter. by and large this across all major s&p sectors. we'll continue monitoring that. we'll continue to monitor some foreign reaction as well. we got disappointing employment news, new home sales in the latest period down 3 1/2% in september. one other thing we're following to see if we in this country have any response to china now threatening to sanction and boeing and raytheon over arms sales to taiwan. i threw a lot at you. these are all the things moving

markets and distressing the markets. i think i repeated this drill often enough where you get sick of hearing it. it is worth repeating. in the moment of a selloff, you sell first, you ask questions, reanalyze later this could all unwind by day's end. there is concern that this just sort of builds, feeds on itself n a vacuum where they don't know about the election where things go, all the other uncertainty, whether new york city could see a spike. the better part of valor is get out of the ways. dani hughes with us as well. dani, your sense how the market is taking it in. all of sudden we can talk about numbers and flight to quality like some issues and treasurys like the rest but the fact of the matter it is back to the virus. it is back to concern a lot of people that that this thing is spiking that 40 states right now have you know, 5% or higher positive case results. that scares a lot of folks.

should it? >> i think it should. there is cause for concern. i think market has been really buoyed for maybe far too long on hopes of a recovery without any kind of repercussions. we're just catching up to investors right now. we've seen a sharp increase of coronavirus cases as you mentioned. we have have not seen anything come out of congress as far as the stimulus. that is depressing the market as well. crude getting hit with a second wave of the pandemic globally with demand. that is a concern. bubbling up a trade war concerns. earnings have been a bright spot. neil you touched about this a little earlier in your cold open. third quarter earnings were down 18%. that is on the eps side. which is a lot less than analysts had predicted. not a lot of upgrades for the fourth quarter by analysts. i think there is a lot of wait and see. cyclicals down.

financials, energy, consumer discretionary and tech have been up but i think looking at the positives, i'm always on a look out for sustainable yields. there is a lot of companies out there that are very strong, that are depressed maybe because they're cyclical or on the downturn. i would ask investors to keep their eye on that thing. another huge positive, neil, ipos and secondaries. that has been booming that is a great case for the markets in general, for liquidity. so keep it around that as well. neil: all good points. jared, we worry about lockdowns and restrictions akin to what they're revisiting in europe and i had one friend of mine who owns a restaurant who was saying his biggest concern is that the reopenings will stop and the closures will start. and they will base it on nothing more than fear it could happen, not whether it is happening and that kind of feeds on itself. what do you think of that?

>> yeah. i think that it is a concern, especially if there is a change in the guard, right? if democrats take control, the, at least the viewpoint at the federal level changes. obviously there could be major changes at the state level. i agree with you, neil, that this is something that people should at. what i've been saying, i've been modeling this out quite a bit, we're into flu season, there will be a generally a lot more sick people who are not feeling good, will not get tested to get tested. they're really sick and being motivated to go. so in other words the ratio of people being tested i think in general, now being flu season is going to automatically be higher so some of the rise i'm seeing out there i kind of expected. what i don't like are some of the potential no sale rules being extended. you're seeing a lot of cruise lines getting pummeled here. obviously what is going on in europe. closures, getting back to

closures, getting back to government action, that is something none of us can control. from an economist perspective to the guy who owns a store on the corner, all of us are like okay, what is going to happen? again the big unknown is november, next week, right? we got seven days and everything could shift. and then you have got meteoric change we need to model out things. right now investors are saying back off, take some risk off, move away. let's kind of waist and see. i wouldn't get too panicked just yet. this is more wait and see. if you're a long term guy, you start to nibble but i think we could move lower. neil: we'll watch it closely. thank you, guys, we'll watch it very close. president is making no fewer than three stops in pennsylvania, crucial battleground state, 23 electoral votes. he won the state, with polls going into the election trailing by five points, they're kind of

saying the same thing now. hopes lightning strikes twice. blake burman what the president plans. the president is looking to all the covid developments saying we're rounding the bend but facts seem to argue otherwise. what is the latest? reporter: we've been hearing from the president in allentown, pennsylvania, the president says he will believe he wins that state, even though the public polls suggest otherwise. the numbers in that state when you look at for example, unemployment she exactly why president trump is there right now campaigning and trying to change some minds because the statewide unemployment rate undoubtedly due to covid-19 right now is at 10.3%. that is a 470,000 person drop of employment this time last, this time this year, compared to one year ago. when you look at the three counties that neil, president trump is campaigning in today, lancaster county, unemployment rate, 7.9%. that is the national average. however blair county is much higher than that, 9.4%, right where the president is right now

in allentown, pennsylvania, 10.7%. when the president started his remarks a little while ago he started with joe biden's comments from the debate the other night about transitioning away from oil. listen here. >> the biden energy shutdown would inflict deep pain and misery on pennsylvania, mass layoffs, constant blackouts and brownouts, soaring gas prices. nice to have that two dollar gasoline, isn't it? [cheering] reporter: you mentioned covid, neil. as part of the president's closing argument today he is suggesting that the media covering a global pandemic that has killed more than 200,000 people here in the united states could be essentially a violation of u.s. law. this was just one tweet the president sent out this morning before he left for pennsylvania, quote. covid, covid, covid is being used by them in total coordination in order to change our great early election numbers. should be an election law

violation. here is the president again this morning. president trump: you know, all they want to talk about is covid. by the way on november 4th. you won't be hearing so much about it. covid, covid, covid. [cheering] today let's talk about covid all over europe, right? europe, they don't talk about that we're rounding the turn. reporter: neil, you've been talking about the numbers and rising cases no matter where you look, whether it is in this country or around this world. you also can continue to look at the outbreak right here at the white house. five people either, who work here or in the orbit of the vice president of the united states have covid-19. the vice president of course the head of the coronavirus task force. neil? neil: blake burman, thank you very, very much. want to go to senator rob portman, republican, fine state of ohio. i don't mean this disrespectfully, senator, what

planet is he on if he thinks that we rounded the bend or it is all a media fixation? the numbers are the numbers. the spikes are the spikes. positive cases are the positive cases. the trend is the most alarming it has been since last spring. i could see maybe saying all right, we'll turn this around, we'll make it better but he is just whistling past the reality right now to say we're rounding the bend, to say this is all a media fixation, i don't know. in his own white house the vice president, his chief of staff, the people around him, they're all affected by this. so is that a proper thing for him to do and say? >> well, two things, neil. one i think he is referring to the therapies coming online that are pretty miraculous. he got to experience one and the vaccines which are coming at unprecedented speed. so when he says things are getting better as those things come online he is right. i think every expert would agree with that, they will be key to being able to stay open, stay

open safely if we get the vaccines and therapies in place more quickly that is a good thing. again he has done it at a fast pace. neil: but senator, no, no, he is not talking about average number daily cases. he is not talking about the fact of the percentage of positive cases there. not all testing. has also gone up from roughly 5% to close to 6 1/2%. >> yeah. all i'm saying you're ask why -- neil: i understand, senator,. >> we're starting to turn the corner, giving some americans some false confidence? >> well, look we're in trouble. we're not out o woods either on the economy or the health care crisis. what i think he ought to be saying for what it is worth is he is the one who has been most hawkish trying to get a covid-19 package through congress. even said a couple weeks ago, probably not every senate republican agrees with this, i'm happy to put the money on the table that nancy pelosi is talking about. i would go even higher. think about it. he is the one who has been saying let's get a covid-19

bill. poor steve mnuchin has been up there negotiating with nancy pelosi endlessly. my view, as you know, neil, she doesn't want a deal before the election. that is what he ought to talk about before the election. he is the one saying get money for testing, tracing therapies. that is all in the bills he is supporting. get money for our schools. let's help businesses to be able to reopen safely giving them -- neil: i don't know where you stand, senator -- >> i say do something. neil: no matter what they come up it is dead on arrival in the senate, a lot of your colleagues, mr. mcconnell is saying, they aren't h aren't keen spending -- >> we had a vote. neil: on nancy pelosi as much as the senate? >> well, but neil, nancy pelosi refuses to move off the mark because she is not interested in compromise right now. the senate republicans put up a 500 billion-dollar bill on wednesday, just, a few days ago.

$500 billion. that used to be real money. it has all the things i talked about. it has school money. more than the heroes act initially had. it halfs the money for testing. it has the money for vaccine. it has money for small businesses t was all in there. democrats even refused to take a vote, we got all the republicans, majority of the senate to support it twice. that is what the president ought to be talking out because a bunch us republicans are trying to get something done. neil: last week at this time, senator, last week at this time, make it bigger. i'm willing to go bigger. we'll go over two trillion if need be. mitch mcconnell, some of the colleagues, you were at the half trillion dollar figure, very generous package to your point, it didn't go anywhere, the fact of the matter we might not get anything. is it your sense now, whoever is to blame for that, things are going to get worse out any

stimulus at all? >> i think we'll do it. i think we'll do it after the election. i think it is unfortunate we're not doing it this week. that is what i wanted to do. i gave a speech on the floor about that very topic, and laid out all the areas with common ground. it is amazing how similar we are in approaches. we passed five covid-19 packages. most were unanimous. we put politics aside. it has become a victim of election year politics the last couple months. after the election we'll get together to figure this out. we have should. there are things we can do to help. both to deal with the viiv russ. but also to deal with economic realities you talked about earlier with your guests. we're seeing market react. we're seeing small businesses in real trouble. we've got to do something to help get them through the next stage until we have the vaccine, until there are more reliable therapies on board. it is coming. there is a period of time where people need additional help. i think we'll do it. i think it will happen after the election but i think we'll do it. neil: real quickly, i know the

vote, you know, for judge amy barrett tonight in the senate. it looks like it will be just republicans voting. so far only collins of maine, susan collins of maine is only one likely will be a no. is it your understanding that the vice president will be kept close by just in case he is needed? >> he won't be needed i think we have 52 votes now but it is too bad we don't have more. as you know, she was confirmed recently less than three years ago to the 7th circuit with a bipartisan vote. she should get a bipartisan vote. in normal times anybody with her qualifications with her incredible performance at judiciary committee where she show a lot of judicial temperment being calm and patient with her background with people from the political spectrum notre dame, saying this woman is qualified. too bad she will not get any

democrat support, in normal times she would. she will do a great job. the vote will occur probably 7:00 or 8:00. she will be confirmed to be on the supreme court to fill that vacancy. neil: senator, thank you. to your point these are not normal times. >> take care. neil: you're working through the weekend. that vote, seven or 8:00 tonight as amy barrett makes her approvely by the end of this week to the u.s. supreme court as as the next associate justice. the market in and out of session lows. the concern is the virus. it's the virus, it's the virus. ♪.

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♪ you know you got to live it ♪ ♪ if you wanna wi... [ music stops ] time out! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ >> when you're out there saying we've turned the corner, this thing is disappearing -- >> we have turned the corner. we have turned corner. >> people can see cases going up all over, in the midwest, in the mountain west. record numbers of cases. >> we have turned corner. we understand the disease. we understand the elderly. we're taking care of them like nobody has ever taken care of them. so we're taking care of our people. neil: all right. but rounding the corner, things are getting a little bit better, that is sticking in the craw of a lot of people not necessarily regarding their politics who see the sheer numbers, are wondering

what the uptick in cases, not just here, pretty much everywhere, 40 states where the uptick in cases are also showing an uptick in positive cases. the bilge worry, something we had not seen prior but getting to be a growing trend. edward lawrence maybe the angle the president was trying to take the hoped for vaccine. that could be just around the corner. i don't know but edward does. he joins us out of washington. reporter: if i had those answers i would make a lot of money but, no, the president obviously looking forward to a vaccine to end all of this in his mind, he believes he could. today could be a break-through in data for astrazeneca, showing that astrazeneca's vaccine works for a wider range of people. today the company says the vaccine produces similar immune responses in younger and older adults. the report released by the company this includes the population 70 plus, those considered most at risk to succumb to the virus.

astrazeneca reported that adverse effects on older adults remained low. a spokesperson for the white house says they're looking for more positive news on this front, listen. >> our strategy hasn't changed since the outset which is we want to lower the curve and we want to protect the most vulnerable and surge therapeutics and a vaccine. reporter: astrazeneca's ceo says the vaccine will be effective for about a year. that is the only stock up. partnership of pfizer and biotech seen as one of the first companies to apply for fda approval for the coronavirus. the pfizer ceo says that could come in the third week of november. moderna right behind those two this year. the administration has lined up at least 100 million doses of a vaccine by the end of the year. to be given out in phases, starting with the most vulnerable. hundreds of thousands of doses

have already been produced and are sitting in cold storage waiting for approval to be sent out. neil? neil: edward lawrence, thank you very, very much. where do we stand on the fight against the virus right now? we have a doctor with us, a epidemiologist, biostatistician over at harvard medical school. very interesting paper, entitled, the great barrington declaration, talking about our policies dealing with the virus that go way beyond politics, or additional countries, just the whole approach we need to take with this doctor, thank you very much for joining us. first off, sir, if you don't mind, your sense where we stand with the virus now? the president argues we're rounding the bend, things are improving. obviously i'm well aware of the spikes in cases as are you. well aware of also the argument it is more testing. nothing to get too worried about but then again the positive cases are picking up as well. where are you on this?

>> well, that -- depending how much we do, where we test. the key metrics are the hospitalizations and mortality. that is it what we should be looking at. neil: how does that look for you, doctor? >> well, in places where we have had a lot of cases in the past, in the spring, things are looking good but in some places where there was very early lockdowns suppressing the disease there is bound to be some more coming i think. that i think is unavoidable. we cannot eliminate this disease. so. neil: so you make it, argue that the current, quoting being lockdown policies are producing devastating effects on short and long-term public health. you are going into much greater detail. things you have to worry about

kids, doing at-home learning and all the rest that aside that does tend to be a lot of countries, states, reaction to a spike in cases. revisit restrictions. make all schooling virtual. lock down bars, restaurants, cure fuse. are all those approaches, doctor, themselves making things worse? >> yes. so there is enormous collateral damage from lockdown measures with school closings, less visits to the doctor. more house restrictions. that is primarily, it is hitting the working class and hurting the working class the worse. so that is a problem, what is the feature of covid-19 is that there is more than 1000 fold difference in mortality rate. everyone can get infected.

mortality rate 1000 fold difference between the oldest and youngest. what we need to do, we need to do a better job protecting the elf determinely. it is better than in the spring but we should improve even more. children should be allowed to go to school in person. school is better for not only education but mental health and physical health. that we're -- putting a fear on children whose risk for covid-19 is less than others because we're not properly protecting the old people. also young people should be allowed to live their lives normally. they are very low risk. so, we have to have a shift in strategy where we focused protection on those that really need it, older people, other high-risk groups while the younger people live their lives to minimize enormous collateral damage been caused by the pandemic. neil: real quickly, doctor, you mentioned older people are the most vulnerable group.

we obviously have almost one size fits all to respond to spikes in cases whether they occur here, as you know, doctor, or abroad, where restrictions are -- we talk about new lockdowns, not everywhere, but, when businesses, you know, talk about returning workers to their offices should they be careful about including older workers in that group? in other words, do they remain a vulnerable population even though their hospitalization and death rates has improved mightily from the worst days of this pandemic? how would you handle those older patients? >> yeah. exactly. whether it is a school or an office or other work basis those over 60 should continue to work at home, if they can do so. for example, in the school, teachers might do online teaching or other, teachers over 60 can help the younger teachers with grading homework or essays

or exams. so this is very, very important we protect those over 60 who are in the workforce. and if they cannot work from home, we have to arrange some other arrangements so they can take a sabbatical for a few months during the height of transmission, when ever that is very high in the community. neil: doctor, thank you very, very much. dr. martin kulldorff following all the developments. urging again, not necessarily repeat the same things we've done in the past to deal with the virus, no matter what people have done it spikes regardless. maybe we have to find different strategies. meantime we're focusing on the president pounding this issue, that things are going much better than the media is reporting with the virus. he is wrapping up a visit in one of three right now no pennsylvania. he will be busy there he is on to a number of other battleground states. relentless campaign continues. so shall we.

one day we'll look back and remember the moment that things, for one strange time in our lives, got very quiet. we worried over loved ones, over money, over our planet, and over takeout. let's remember this time when so many struggled to feel secure, and build a future where everyone can. because when the world seems like it's standing still... that's the perfect time for us to change it.

neil: all right. early voting has already begun in the empire state. man, oh, man, is it getting and drawing incredible lines, likes of which i don't ever remember seeing. of course we haven't had the interest in early voting as we have now in the pandemic age but the numbers and the lines are staggering. eric shawn in the middle of all that in new york city with an update. reporter: neil, right you are. a lot of americans spent the weekend in long lines voting because the numbers are in record numbers. election officials say so far more than 58 1/2 million americans have voted, more than voted in person and by mail during the whole 2016 election. as you can see early vote kicked off in new york state on

saturday. man, was it crowded in new york city. officials say 94,000 people voted. that is double the number that turned out over the whole nine days of the primary here in june. but the long lines caused long waits in new york city. congresswoman alexandria ocasio-cortez says she stood in line for an hour 1/2 and calls that type of delay voter suppression. >> listen, voter suppression, it could be intentional, it could be unintentional. i think that at the end of the day, if the line to your polling place is so long that you don't vote, that is a form of disenfranchisement. reporter: but new york city mayor bill de blasio disagrees with her. he calls the board of elections simply incompetent. while long lines can discourage folks from voting, he doesn't think it is voter suppression. in boston, a second ballot backs was a target of arson. someone set a fire to a box in

copley square early sunday morning. 135 of the 222 ballots were destroyed. they saved 85 of the votes. looking at photograph of the person who police believe may have torched that box. last week someone set a box in los angeles on fire. election officials in l.a., they identified all voters whose ballots who were destroyed. no one arrested in that incident. in virginia, officials found a different type of message in ballot boxes in couple of counties. thank you, notes. people putting thank you notes for your ballot, thank you for your work. thank you for making my vote count. neil, back to you. neil: that is kind of nice. eric shawn, thank you very much, my friend. in the meantime we do know crazy market notwithstanding, we're at session lows, over 800 points right now, none of that has to do with the amy barrett confirmation vote expected later

today in the u.s. senate. it is going to go according to script. only one republican, susan collins of maine came out as sort of a pre-no vote but that would leave amy barrett with enough votes to make it past the hurdle and become the next supreme court associate justice. at least that is the betting. let's get the read from katy cherkasky, former constitutional law professor. katy, what is next there, could she be on the court by the end. week? a number of cases are coming up. the president and others wanted to see her be a part of but is it doable, that soon by the end of the week she could be sitting on the court? >> well, neil, it looks like that is what is going to happen. it is all going according to plan. there is no reason to think she won't be confirmed. she will move forward hearing cases. there is some question about whether she has to recuse

herself for initial cases coming forward. for all intents and purposes she will be a confirmed justice on the court. neil: some might have to do with the election itself. we don't know. a lot of people are fearing another bush-gore situation from back in 2000. democrats already think she should pre-recuse herself. now, what would make it important that she recuse herself? because she was appointed by the president? i mean in prior cases the supreme court was weighing in some 20 years ago you could make the argument there were a number of justices appointed by republican administration or, you know, prior to that, george bush himself him, senior, where this would have been an issue. i'm a little -- what is the metric we use to say there is a potential conflict? >> well in judges and justices making that decision they have to make a reasoned analysis themself whether it would be

appropriate for them to hear the caves and whether they will make that decision to actually recuse. here i don't know that the fact that she was appointed by trump would be grounds for her to be recused from those cases involving state election law. that is what is really going to boil down to, interpretations on the state's election laws. of course we know that amy coney barrett is going to be in big favor of state rights to large degree but conservative interpretation of that. i would see why democrats would want her be recused. i don't see any legal grounds for her to recuse cases at this point. neil: are there real precedents for recusals in a case like this. i don't know of any. you say it is maybe set among the justices themself. how would they determine that or how would she? >> i think it would depend on the specific facts of each case. if there was a particular connection to something she had previously been involved with,

for instance. if there was litigation at the court that she is coming from or involvement in some specific way that would make it a personal conflict that would be different than idealogical issue, that, yes, she was involved because she is appointed by this president and he is the one who, disputing it. that in off itself would probably not be grounds enough. more specific connection to the case, prior involvement of that case would be grounds for recusal. neil: do you expect the supreme court to have to deal with some these issues? they could go to lower courts first but, if it is as controversial as heated as some suspect, play that out. >> sure. as we all probably know even right now before the election has begun there is hundreds of lawsuits pending regarding state election law. it spans everything from the way people are voting to how the ballots are filled out, how they're being collected there is

tons and tons of dispute what is a law full vote or suppressing somebody's right to vote. there is that balance in the middle of how do we figure out the best way to make sure that everyone is getting their lawful vote counted. these lawsuits could go all the way up theoretically to the supreme court. now in 2000 with bush versus gore that was a recount issue in one state. here we know already there is going to be hundreds of lawsuits that are pending postelection, especially if the final count is very close. theoretically toe could make their way all the way up to the court. even if they are coming later, any justice would have to potentially recuse himself, especially a new one may have been involved in cases coming from their prior job at that point. so i see that there is going to be a lot of litigation going on, there is no doubt about that. whether it changes the outcome of the election will depend how close the final vote really is. neil: all right. we're not there yet. that is worry maybe for another day. enough worries for markets.

katie, thank you very much. all stocks are off. all 11 s&p 500 sectors are off. technologies is the least, still off. we'll have more. ♪ knowing we're prepared for the future. surprise! we renovated the guest room, so you can live with us. i'm good at my condo. well planned, well invested, well protected. voya. be confident to and through retirement. this was the theater i came to quite often. ♪ the support we've had over the last few months has been amazing. i have a soft spot for local places. it's not just a work environment. everyone here is family. gonna go ahead and support him,

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♪. neil: all right. we're at the lows of the for the day, with the dow down about 830 some-odd points right now. we should point out in percentage terms that is still a little bit under 3%. i can remember covering 1987 stock market crash where at the time we feel better than 500 points it represented better than a quarter of the dow's value. we have a lot bigger dow right now. the points are remarkable. i'm not meaning to make light or minimize them, but again in percentage terms this is something that is bearable but i use that, you know, somewhat, you know, gingerly. i should also point out here that another development that a

lot lot of technicians when a average moves below 350 day moving average. all the 11 s&p 500 sectors. the catalyst was constant spike in cases day after day. the fact that right now a good percentage of them are showing that they are positive more than in the past. you look attest something one thing. 5% or so was the average we were experiencing for tests revealed positive case closer to 6 1/2%. this on the heels of various rolling shutdowns, quarantines and the like we're seeing in spain and france and italy, a host of other countries that are revisiting, not lockdowns but rolling shutdowns, particularly in ireland. concerns that it will escalate. france has the highest percentage of cases in europe and highest number now steadily. they have dropped out of the worry zone. all of sudden they're leading

the pack in europe. concerns that kind of stuff could happen here. we'll keep an eye on that. also the disappointment over lack of any sort of coronavirus stimulus at least before the election. we had ohio senator rob portman saying maybe after the election but that is too little too late for a lot of investors for the time-being. we're focusing on the non-market news and non-virus news because there is plenty of that, particularly when we go out to seattle right now. of course one of the cities that led this push to cut back on funding for police. now it is dealing with a massive homeless problem that has only gotten worse. we have the very latest from dan springer in seattle. hey, dan. reporter: hey, neil. it is sad and certainly not what some people would expect but one of the consequences of defunding the police has been a big spike in the number of homeless encampments throughout the entire city. we're seeing much larger tent camps. also more permanent nature to

them. there are 3700 people unsheltered in seattle before the covid pandemic hit. that number went down as they were trying to protect them from the virus. then came the black lives matter protests and calls to defund the police. the city council hedged to cut the spd budget 50% next year. pass down payment they cut 100 officers this year and defunded the navigation team where officers joined outreach workers to clear homeless camps. mayor jenny durkan vetoed the cut but the council overruled the veto. >> one reason i would oppose to the end of the navigation team so we do outreach to get people into somewhere safer. reporter: one of the new homeless encampments which happens do be in a watershed. they spent $11 million to restore the watershed. there is mounting trash. people are told nothing can be done. >> all we can do is wait for the

next screaming woman or fight to break out in the park to call 911. that's, that where we are left. reporter: you can see that frustration among residents and business owners who say that some of them can't even get to their properties which by the way, neil, they're still required to pay taxes on. neil? neil: incredible. dan, thank you very, very much. much more on this selloff right now and other factors behind it. not just stimulus. not just the virus. we'll get into it after this. ♪. are you frustrated with your weight and health?

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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. ♪. >> welcome back to "coast to coast." i'm susan li. twitter announced in the last few minutes they will show prompts to u.s. users topics related to election misinformation. all three report that facebook could employ tools to slow the spread of certain posts tweaking news feeds, controlling what tens of millions of americans could see on the platform. these are some of the measures facebook could turn to stem election unrest. only used in myanmar and sri lanka. mark zuckerberg, jack dorsey, sundar pichai spending time on

capitol hill this week. the three will voluntary testify at the u.s. senate commerce committee this has to do with section 230 of the 1996 communications decency act. protections social media enjoys being liable from users posts. two weeks after the election, september 17th is the date that when dorsey and zuckerberg will appear again before the senate judiciary committee headed by lindsey graham. this is about censorship and limited sharing of the "new york post" hunter biden story. despite getting grilled by lawmakers all three tech companies reporting earnings this week. it will be interesting, neil, to see how d.c. might have prayed into the bottom line. neil: man, you got that all in. susan li, thank you very, very much. dow down about25 points. we'll have more after this.

neil: all right. it's all about the virus but not exclusively about the virus. concerns about a spike in cases in the united states and abroad. you know, they're going through rolling shutdowns in much of europe right now. good luck in italy, good luck in france, good luck in spain and portugal, even germany having some problems right now, it's even popping up in some of their economic numbers. a lot of these countries were the envy of the world about how they were handling the virus, coming out of the virus.

that was then. the reality now is europe is on the verge of something that could lead to lockdowns across a lot more countries. they are also looking at curfews that go beyond france. in italy they are actually considering closing restaurants after 6:00 p.m. in italy. that's a big deal. that's a really big deal. then there is stimulus that was meant to address concerns about the virus here. that doesn't seem to be forthcoming. that isn't new. the fact rob portman of ohio, the senator there, says maybe they can cobble together something after the election, that's kind of a new development in and of itself but being too little, too late to markets that want it now, now, now. then of course, the issue of home sales which were expected to be strong and by and large, they have been, but new home sales, down 3.5% in september. one other outside issue before i go back to the virus and the concerns right there, is this report that china is ready to sanction boeing and raytheon

over those arm sales to taiwan. that is sort of like a sleeper issue i think could develop into something right now because that's a bit of cold war agitation. you might recall the president commenting in that very heated "60 minutes" interview with lesley stahl that china to him is our number one foreign threat, not russia, china. there might be a lot to that if developments like these might feed that view of things. china is not making things easier for this country, to put it mildly, no matter who ultimately wins that election. back to the virus front and center. it's all about the cases. they are spiking, that you could look and say all the testing. wish it were that simple or that reassuring. there are problems within those numbers. we are following them. what's the worry right now, jonathan? reporter: the worry is really globally, not just here in the u.s., but also spikes that we're seeing in europe. in fact, the world health summit

that normally takes place every year in berlin is being held online and that is where the u.n. secretary-general was speaking, describing this pandemic as quote, the greatest crisis of our age. take a listen. >> cases are still rising and new spikes in waves are occurring in places that have suppressed the virus for many months. reporter: mike pence plans an ambitious campaign schedule this week despite several key staff members testing positive for coronavirus. administration officials say the vice president is wearing a mask but will continue his duties as an essential worker. >> free elections are the foundation of our economy. campaigning and voting are the most essential thing we could be doing. >> couldn't he doing it virtually? >> i think he's taking all the precautions. my understanding is he's tested negative as has the second lady. reporter: the journal "nature microbiology" published a study

suggesting covid-19 patients with severe symptoms generate a stronger and longer-lasting antibody response than those with milder cases. what does that mean for us? well, it means once we get access to a vaccine, it's quite possible we will need a booster shot to ensure that we have longer-lasting protection. neil? neil: all right. jonathan serrie, thank you very very much. a footnote to all of that, why a lot of people worry about these spikes in cases, we have the world's number one test despite the politics on the left or right about this. what is disturbing to some scientists is the fact that the number of positive cases from that testing have been inching up actually rather steadily over the last few weeks, whether you look at seven-day averages, the fact of the matter is more are testing positive than they were before, about 6.5% right now. it had been around 5%, actually below that for quite some time, but it has steadily been inching up and that is what fueled these

worries that it's a little more than just the testing. in the meantime, a lot of back-and-forth on this. it's one thing for stocks to get hit by this, but can you imagine if you are in the corporate leasing business or in corporate real estate, anything else, just that entire field of corporate finance itself, if you work for a company that was looking to expand let's say in manhattan offices, they're not looking to expand right now. this has been playing out across the country and it is a very very big worry. mark hamrich joins us. mark, what's interesting about these developments is whether commercial real estate could recover from this, but every time we hear spikes or renewed shut downs, rolling lockdowns, that kind of thing, most of that abroad, i want to stress, but again, states like california, new york are worried about it, then what? what are the implications for commercial real estate?

>> sure, neil. good to be with you. we think about the fact as we look at weekly jobless claims later this week, it's going to be week number 32 since the downturn began and i think many of us would have thought perhaps by now, we would be doing better with the economy than we are, we would be doing better with the virus than we are. so that concern about commercial real estate is very real, because we know there is going to be, you know, the next step of this journey that some might want to call return to the new normal. it's hard to deal with those cliches at this point, but the problem is that we keep pushing it out and pushing it out and we know there's a world of hurt in that space. it's much the flipside of the residential real estate piece that on a year over year basis, the new home sales are up something like 30% but commercial real estate on its back, and as this persists it's just taking longer and longer to begin the healing process in

that space. neil: you know, a lot of banks are in this business, i'm not saying we're at the point where some are going to go belly-up but if customers, for example, aren't paying rent and some of them aren't looking to expand, that's a best case scenario, the latter one, they are on the hook. these guys are on the hook. are any of them so wobbly now they might not make it, that they might, in fact, need a rescue? >> well, i don't have any particular insight on that, neil. but you know, i think generally we think according to the regulators that the banks are well-capitalized and obviously, the federal reserve et cetera have been running stress tests to look into worst case scenarios. i don't think that it's quite that grim but it really does underscore how we have been left sort of behind by our elected officials, no matter how you feel about any of the different iterations, how one feels about

the different iterations about federal relief legislation. the fact we got nothing right now, where you might be looking to provide some sort of relief with respect to landlords and rent, and remember, it's not just banks that are exposed when we are talking about rent. there's a lot of so-called mom and pop landlords out there that when people talk about oh, let's let people skip on their rent and i can understand where that sentiment comes from, but the problem is there are people dependent on that money. whether it's a jpmorgan chase or it's your neighbor down the street that might own a duplex somewhere. neil: yeah. i'm glad you mentioned that. we think of landlords as these giant corporate fat cats. some of them are mom and pop operations themselves. small businesses. they have to pay their bills as well. are you worried that this overhang with the spike in cases is an overhang for the economy going forward, in other words, i had senator rob portman here talking about stimulus will come, it will probably be after the election, but doesn't that risk being too little, too late?

>> whatever it is, it's going to be later, right? so there's a cost of doing it. that's the cost of the federal debt and deficit. but there's a benefit, right. and then there's a cost to delaying and the other part is, there may be a cost because you will have to go bigger later, depending on the outcome of the election. absolutely, the fact that this disease has been more prevalent than we thought it would be by now, there's a huge cost to the economy and individuals which is why at bank rate we continue to counsel people, save for emergencies, save for retirement, because i have yet to meet anyone who lamented they had saved too much money. neil: that's a very good point. sage advice, thank you. for a young guy, too. not too bad. mark hamrick following this at bank rate. these worries continue as we go in and out of session lows. what to make of it, with the next step with the independent women's forum senior policy

analyst. it doesn't look like stimulus is going to happen, certainly not any time soon, and the two sides, even though they were close in numbers when nancy pelosi and steve mnuchin were kicking it around, wildly different priorities. the best case scenario, i guess, is after the election. of course, it would be a different environment then. what do you see? >> i think if it happens after the election, it will certainly be proof that politics as well is infecting these negotiations. by that, i don't mean the ordinary politics that of course infect every kind of and should quote, unquote, infect every negotiation in congress but the kind of pure electioneering. if we can reach a deal after the election but not before, when the american people are hurting, i think that says a lot about where priorities are in washington. neil: what do you think of what's happening right now, you know, the cases themselves, the virus cases, you know, it's one thing to see what's going on in europe. it's another thing to see, you

know, 40 states right now getting 5% more upticks in cases. i'm wondering whether we're ready for another wave of this. maybe we're certainly better braced to deal with it. we kind of have some tools in our arsenal to deal with it. but i'm just wondering about the assurances we hear from public officials of any type. i don't feel so reassured. what about you? >> i'm not particularly reassured, either, although the rise in cases in europe should be a reminder that at least some portion of this is sort of outside of the hands of public policy, right. we have examples of countries taking all kinds of different strategies to the virus. of course, there is still a pretty narrow range. there is virtually no country that has done nothing to try to arrest the spread of this virus but within that range, you know, we have seen countries take different tacts, then have equal caseloads and this is just another reminder of that, that we still don't know much about how this virus, i mean, after all of these months, you would

think we would know more, we would have a good understanding of what activities are high risk, what activities are low risk and accepting the broadest possible parameters, we don't. that's difficult for the american people and for people everywhere who are dealing with this pandemic. it's exhausting. this year is exhausting. i think a lot of people feel that. neil: yeah. you talk about pandemic fatigue, and i'm glad you mentioned that even countries that supposedly did all the right thing and they were being hailed as sort of role models and trailblazers how to deal with it and they are the ones dealing with it all over again. france comes to mind, even portugal and italy whsh, when t had everything locked down, everything was fine, but then they reopened. that pandemic of fatigue you hear about, a lot of people are pressing back against it saying no, no, no, i'm not putting off seeing my older relatives. no, no, no, i'm not going to keep my kids in bubble wrap or whatever. they are really protesting doing the things that authorities tell them they might have to do and

maybe some of that leads to risky behavior or whatever but it's more pronounced than i can remember since back last spring. what do you think? >> absolutely. and i think even -- not that i'm a public health official or anything, but i think from the public health perspective, the key will be to make sure that we kind of get to the midpoint between what might be ideal from a health perspective and what people are willing to tolerate both economically and psychologically, right. i think the key is not to push people so far that they start to reject even the more minor things that they can do to keep -- help keep themselves healthy and keep others around them, particularly vulnerable people, healthy. i think we see this dynamic a lot, unfortunately. everything that's happened has been so deeply politicized that people don't know what to trust. there's a lot to be said about public health officials and the media both in furthering that lack of trust by having contradictory information out there or by blatantly

politicizing or having the double standard. we saw that with public health officials not commenting about how the possibility of protests might spread the virus and i think that's really depleted trust and so i think that's what's needed more than anything now is sort of common sense health solutions and common sense ways to live with this and i'm not downplaying this at all. i'm probably on the far cautious end when it comes to this virus. but i don't see the american people tolerating another full lockdown. i just don't think that will happen regardless of whether or not it might be the right or wrong thing from a health perspective. neil: well, it's been proven that it doesn't cure all your problems, to your point. i'm glad you offer a very pragmatic approach on this. just keep calling balls and strikes. don't defer to either party's sort of take on all this. that's very sage advice. i appreciate it. we did briefly touch on politics there, didn't we. one of the things that's going on, i understand, is a

presidential election that's going to be finalized with a big vote eight days from now. now, joe biden leads in all the polls here and then you have this tanking market and concerns the economy could tank, but if he were to be elected president, if you are under the assumption that he might put off tax hikes because of what's going on now, some fresh news that that is not the case. 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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♪ you know you got to live it ♪ ♪ if you wanna wi... [ music stops ] time out! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ neil: all right. at session lows right now not only for the dow but for the s&p 500, the nasdaq as well. a lot of this on fears you heard about, the spike in cases in this country, back to back to back days, maybe 3,000 plus new cases, and the fact is the seven-day average is just under 70,000 new cases. a lot of people follow that because it sort of evens out the volatility but when that is on average about 70,000 plus a day, that, too, is very very worrisome. that and the fact that the 40 states in this country are averaging 5% positive cases right now.

that, by the way, is another little blemish on these numbers that's worth noting here, that the percent of people being tested who are tested positively have moved up from it used to be in the mid 4s,we got it down to almost 4, then it was creeping up to 4.5%, 4.75%. last week at this time, a little north of 5%. now around 6.25% to 6.5%. again, the trend is not the friend. that's what alarms a lot of folks here. we are keeping a close eye on that. also on corporate earnings. this is going to be one of the busier weeks, the busiest, in fact. about 136 of the s&p 500 companies reporting, representing about a third of the s&p components. we will keep an eye on those. some are giving good signs, others aren't offering any guidance at all because they just don't know. nothing wrong with that but if you don't know and you answer the uncertainty it adds to the selling. edward lawrence focusing on something we do know for now, kind of certain but you never

say that these days, the amy barrett confirmation vote tonight in the full senate. she is expected to pass. all republicans minus one are expected to support her. but i guess no democrats will be part of this, right? reporter: exactly. no democrats and this would be the big story of the day if the coronavirus weren't around, if it were another year. democrats spoke all night literally against the confirmation of amy coney barrett and they are still talking right now. on sunday, republicans voted to limit the debate on the confirmation to 30 hours. democrats keep debating, so 30 hours, the full amount is used. two republican senators, senator susan collins and senator lisa murkowski voted against limiting the debate so republicans are now counting the votes for the actual confirmation. the vice president mike pence could be near the u.s. capitol if it comes down to it being very close when the final vote happens, in case he's needed for a tie-breaker. in the debate on sunday, senate

minority leader chuck schumer still maintaining the confirmation should happen after the election. >> there is no escaping this glaring hypocrisy. as i said before, no tit for tat convoluted distorted version of history will wipe away the stain that will exist forever with this republican majority and with this republican leader. reporter: the administration wants the senate to move forward because it anticipates a lot of legal challenges which may end up at the supreme court with this presidential election, plus the white house believes that she's a more qualified candidate. back to you. >> yes. we fully expect judge coney barrett will be confirmed. we are thrilled with this choice. she's, you know, an originalist textualist made in the likes of judge scalia. she is someone who will serve on the court for decades to come and i think will make the american public proud. reporter: there is still a long way to go from now until the final vote. we are expecting that vote to

start at 7:30 p.m. with susan collins expected to be the only no vote on the gop side. back to you. neil: again, i might have asked you this before but i'm so old, i forget. you seem very familiar, young man. but the issue is whether she's going to be actually sitting on the court by the end of this week. that was a goal, i remember. is it still doable? reporter: it is. that is something that could happen if this vote happens without fail tonight. again, there's a lot of time between now and tonight, but it could happen by the end of this week, by next week, she could be ready to go, have her orientation and all of that for the supreme court, and in time for any challenge that comes to the supreme court with the election issues. as you know, there was one challenge, it was tied, went back down to the lower courts for their ruling. that ruling could then come back now with a full supreme court, should she -- should this vote go as republicans think it will.

neil: the issue, does she recuse herself on certain stuff. what a mess. they will figure it out one way or another. they always do. edward, thank you very much. he's the best in washington, d.c. now to the best when it comes to covering wall street and the financial community as we hurtle through our lowest lows of the day. the dow down better than 904 points. a lot of this on concerns about the virus and the slowing economy that could result from that. so charlie gasparino, question for you, my friend, on let's say joe biden is elected next week, can't tell, we don't know, would he raise rates or i'm sorry, raise taxes in the middle of something like this? are you hearing that this would give him pause? charlie: here are his three legislative priorities as the biden aides are telling my sources on wall street. why are they telling the wall street guys this? all you have to do is look at the campaign contribution numbers. wall street factors massively into biden's campaign coffers.

they are throwing money at him left and right. they have direct access to his people. here are the priorities. they want to pass a covid stimulus bill upon taking office. so in january, particularly if he gets a democratic congress, like senate and house, $2 trillion is the number he's saying. number two, there's an infrastructure plan that's in place. they are going to push that out. again, upon taking office. that means they are going to work fast. it will be one of the legislative priorities of his first 90 days. and number three, this is key, it's a whole array of tax increases. he will tell you it's taxes on everybody that makes more than $400,000 a year. technically that's right. we do know that taxes and then sort of limiting some of these loopholes often filters down to lower tax rates, also taxes if you raise taxes on corporations, they spend less on salaries and

infrastructure for their workers. it does get passed on to consumers and workers. that's the 90-day legislative priority, i hear. taxes is one -- is of the three legs, taxes is one of the big ones and you know, neil, he's heartened, meaning joe biden, from what i understand, by the support he's getting from the big wall street firms like goldman sachs saying even if you raise taxes on corporations and wealthy individuals and investors, we think that this de-stimulative impact of that will be counteracted by the stimulative effect of doing this massive infrastructure plan with green new rg energy and everyth else. whether or not that's true is open to debate. i happen not to believe that. larry kudlow would tell you that's not true. art laffer will tell you that's not true but goldman sachs believes it's true. those are the three things. it's obviously the cart before the horse. the biden people feel very confident that they are going to win this.

they feel increasingly confident the senate is going to the gop. that's why you see these plans with a lot more detail on it. we wrote a whole thing up on fox business.com on the tax plan. there's a lot more meat on the plan -- on the bones of these plans right now and it's a three-legged stool. it's infrastructure, it's covid relief, $2 trillion, and it's that massive tax increase upon taking office. a 90-day, in his first 90 days, back to you. neil: there wouldn't be the barack obama thing where they held off on that, revisiting the top rate. nothing like that, because we were in this -- charlie: i have asked that question 30 times. as you know, barack obama did not raise those personal income taxes until much later on, after the financial crisis. they tell me that biden believes that the spending will make up for the destimulative impact of

raising taxes during the covid recession. neil: all right. got it. thank you, my friend. charlie gasparino following all these fast-moving developments. still down about 904 points right now. the president has been busy and will be busy crisscrossing keystone state of pennsylvania today. he has been loaded for bear earlier today, in fact, criticizing the constant fixation on the virus itself, it's covid, it's covid, it's covid. all this goes away he says on november 4th after the election. i don't know about that. but the covid threat is real. what happens right now as joe biden gets ready to campaign himself? he's taking the day off today. been having a very bunker-like campaign. but he will be in georgia, georgia, tomorrow. that's a state that used to be safely and maybe still is safely republican but democrats are very confident they can take that and are optimistic they have a shot at texas. what's going on here? after this. derriere discomfort.

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neil: all right. back at session lows. it seems like we are gunning to take 1,000 points off the dow right now but might be a little bit early to jump on that. lot of this based on the fears here that we could be looking at more shutdowns and problems because of spikes in virus cases pretty much all over the world. not nearly as much here but enough to give people pause here. what's interesting, you talk about all the s&p 500 sectors, all 11 of them, certainly what we see going on with airlines and cruise lines are an example. they don't see things getting back to normal any time soon. it could explain united down about 6%, delta, american airlines, jetblue, alaska down about 5%. you don't want to get me started on the cruise lines but i will. norwegian, royal caribbean, carnival close to 10% right now off from earlier levels. again, it's something that just continues to sort of drag on issues that would be very very

sensitive to a comeback and one that's denied or delayed substantially here. we will keep an eye on that. in the meantime, we are also keeping an eye on politics. the president business ay in pennsylvania, no fewer than four stops today. he was in allentown earlier saying they are getting ahead of this whole virus thing, no need to worry, but in the meantime, joe biden taking the day off again. the strategy seems to be working for him if you buy the polls. not everyone does. but a tell-tale trip to, of all places, the peach state tomorrow, that is georgia, where you would think he would be wasting his time. that would be a very republican-friendly state but peter doocy on how times may have changed. peter? reporter: with that trip to georgia tomorrow, the biden campaign is trying to make a pitch to red state voters that a vote for biden is a vote to put hyperpartisan times behind us. >> we are focused on maintaining as many paths to 270 electoral

votes as we possibly can. we believe that we are seeing energy all across the country for joe biden and against donald trump. you know, the vp is going to be -- i should say vp biden is going to be in georgia on tuesday, that's right, he's going to actually be making a significant message speech there. he's going to be delivering a closing argument. reporter: biden has spent most of his time lately in more traditional battleground states that trump won, especially pennsylvania, but also michigan, wisconsin, arizona and florida. now the democratic ticket is trying to expand the map, visiting new states for the first time since the primaries, fielding questions about trips to georgia or another one that is red and that kamala harris is hitting this week, texas. >> the bottom line is we are focusing on every state as we are working to earn the vote of every american, regardless of where they live. reporter: bonus for democrats of biden or harris visit to texas

or georgia, it elevates some of the competitive senate races in those states as well. joe biden made two stops in pennsylvania on saturday, then went to church close to home yesterday, and that's where he remains right now, at home in wilmington. no campaign events on the schedule but there might be some sort of appearance later on today in wilmington. neil? neil: peter doocy, thank you very very much. i want to get the read on all of this from vernon jones, georgia state representative, 2020 black voices for trump. representative, very good to have you. when i was talking to peter, he was talking about how the former vice president is sort of teeing up georgia, maybe thinking that georgia is winnable for a democrat, does that worry you? >> not at all. you know, i was at dinner last night and i talked to a couple, bob and nancy. they're not all out trump supporters publicly, but they are one of those families that quietly are supporting this president. when i talk about the majority

or the silent majority, there are many of us out there, many people who are going to come out for this president. they are not fleereflecting the true beliefs in the polls because you know what, they don't want to be called certain names, sellout or racist, for supporting this president. they are low key, they are quiet, but they are out there like an army of ants and you know ants. you are going to see them come out in this election, especially in georgia. georgia's as solid as stone mountain for this president. we like president trump here. he has a solid record of accomplishments. joe is a dollar late and a day short. he thinks he can come and run the clock out. well, he ran the clock out 47 years ago. joe's time is over. people in georgia, they don't want the tax cut because they don't want to see their paychecks go down, they don't want to see their investments be increased in terms of their taxes. at the same time, they are seeing this president has been a president on creating jobs just like he created jobs prior to the pandemic, jobs are being created right now. he has a good hold, i know we are dealing with the

coronavirus, but we are testing over 950,000 people a day. that's what this president is doing, getting the resources -- neil: you don't buy, vernon, you don't buy these polls, right, when they show the race as tight as it is, similarly tight in texas and all that stuff? i do remember three or four years ago, hillary clinton's campaign was pushing, you know, appearances in arizona, also georgia, i might point out, thinking that you know, we just might be able to run the table. they have regretted that. but do you think that these polls are as close as they appear to be, or are we missing something? >> here's what's interesting. we know the liberal media likes to put the narrative out there that this president is trailing. a poll is only as good as the person doing the polls. n you know about push polling, setting the questions up so you get the answers you want. i can tell you this. look at the polls in 2016. even the media was saying that this president has no -- not fox, but other networks were

saying this president has no pathway to winning this election. well, guess what, he ran the table from georgia on across this country, pennsylvania, michigan. he didn't even think he had a chance in. wisconsin. neil: you think this could happen all over again, the pollsters have repeated the same mistake? you don't think they have learned anything from that? if you're right, that would be all the polls, all the time, all this year that it showed the race one way. but you are confident of that, that must be looking at internal polls or other polls that show otherwise, right? >> well, you know, people are funny. they don't tlilike to change hos in the middle of the stream. this president has been strong, he's a fighter, he has a record now. before he didn't have a record. he's not an insider. he's an outsider. joe biden has been a long-time politician, really did nothing. so i think people feel comfortable staying with who they have right now. and they know this president will get out there and fight. there's going to be something to address the covid in terms of a

vaccination that's coming around the corner. people have hope. the president has hope. he's very positive. you can tell from the crowds that he's drawing. i was down in south georgia this past weekend down in pelham, georgia and the amount of turnout on a rainy day from people across south georgia, they love this president here. you're going to see the clock or i should say you will see the numbers run up and this president is going to be the next president of the united states. he is definitely going to be reelected and is certainly going to carry georgia. neil: all right. we will watch it very closely. vernon jones, georgia state representative, 2020 black voices for donald trump. very good having you on. thank you very much. >> thank you. neil: all right. in the meantime here, dunkin donuts, can you imagine someone else owning them? it looks like that could be the case. are there any holes in that story? could be sweet. okay. more after this. (ringing)

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neil: if you're long the market going into today, you're not having a good day. if you were long this market going into the year, you're still having a pretty good year. it's been that kind of topsy-turvy thing, particularly if you were in technology. all the major averages are taking it on the chin. any kind of exchange traded fund related, for example, to the airline industry, that probably disproportionately is really taking it on the chin and this etf, jets etf, is an example of that, is probably the most glaring example of that, that you're not going to be flying anywhere, not going to be doing much, especially with concerns about covid spikes not only here but abroad, so much for foreign travel and people here, that kind of thing. even foreigners looking here, whether they want to come here. jonathan hoenig joins us, capitalist pig hedge fund

manager, much much more. sean o'hara back with us. sean, obviously the beauty of the etfs is they can fine-tune an industry and a way to sort of invest in that and for those who looked at the airline industry, this could either be a great vehicle if things were going really well, or a bad vehicle these days when things are not going well. what does it say? this is an overkill, it got even more selling steam based on this latest virus news, or what's driving it, do you think? >> thanks, neil, for having me. i think it's the fear of things slowing down. i think this was a very speculative play. airlines got as they say, cheap, if you will, but i think there's going to be quite a long time before they get back to their pre-covid levels. there's a couple things that are headwinds. second home sales have risen, rv sales have risen, and business travel's probably not coming back. so people on their vacation

choices are probably going to i don't theiruse their rv or go t their second home as opposed to flying. we will see to she tee the shakt about business travel. i would like to see something that isn't quite so speculative in this market. neil: which would be? >> well, for example, we own data centers and the cell phone tower names. things like streaming, the internet of things, artificial intelligence, e-commerce and the cloud will continue to grow. they are not based on travel or social interaction. if you own those names, they will have to be continued supplied buildout to keep up with the amount of computing power necessary. if we are all going to 5g phones, cell phone tower names should do very well because they have to build up their coverage model in order for us to get to 5g. >> yeah. i will say one thing about the airlines. thank you for having me. you know, the airlines, they have been here before.

thinking back to after 9/11. the airline industry was decimated. the difference is back in 9/11, the government permitted a lot of those companies to go bankrupt. american airlines went bankrupt, among many many others. this time around, unfortunately, the airlines have gotten billions and billions of dollars of government aid, they have also been essentially restricted from restructuring. they have been not permitted to fire a lot of people who probably should have been fired because people aren't traveling right now. i think that process, that government intervention, is going to make -- try and own the airlines very very difficult right now. this etf is great for trading, kind of getting in, getting out, maybe selling short, but because government is propping up the airlines, i think you want to run for the hills when it comes to owning the airlines. neil: you know, it's interesting, guys, too, some of the disappointment today, besides the spike in cases, is no spiking in stimulus. it's not happening any time soon. i'm wondering what you make of that, sean, if we don't see, forget about before the election, even after the

election, just doesn't materialize. >> yeah. i mean, i think that's a big issue, neil. i mean, we are a consumption-based economy. i think people are hurting right now. we still have a very high unemployment rate. these folks have been missing these extra stimulus checks on top of their regular unemployment. if this continues to linger, i think that will have a lasting or longer-term effect on the consumption side of things. i think that's why the market's doing sort of what it is today. you have comparable over last year's earnings, this current earnings season and everybody has sort of looked past that into next year and is expecting things to get better a lot faster. stimulus for certain people here in america is a big part of that. if we don't see that, i suspect that will be even more of a head wind on the market. >> neil, i will respectfully take the other side of that trade. look, back in 2008 we got that huge stimulus bill, the market fell. we built this faulty cause and

effect relationship, this idea that we get some stimulus, the market will -- the market fell 40% from when that last stimulus in 2008 was passed, unemployment revved up nonetheless. i'm fearful of a stimulus bill. i think this is profit taking over a long bull market and the stimulus is probably a good indicator to sell short rather than buy more. neil: guys, thank you. jonathan, very good reminder what happened with the troubled asset relief program. that was voted down originally by congress in the fall of 2008, fell about 770 points at the time, a huge percentage hit at the time, so everybody skedaddled back to try to pass it again. they did, but to jonathan's point, even after that rescue, we still fell thousands of more points. sometimes doing the market's bidding can come back to bite your heinie. more after this. businesses today are looking to tomorrow.

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welcome back, i'm kristina partsinevelos. we know 2020 upended live music industry. we know that concerts have been postponed until next year. the summer olympics, canceled for the first time since world war ii but artists and venues are hoping things will slowly

start to return to normal, starting next summer. for example, pop star justin bieber has rescheduled his tour to 2021. he will be performing at the barclay center behind me just next summer in july but not all artists are expecting to be back at full capacity. for example, you have the flaming lips, the oklahoma city band, they performed and literally blew up 2020 last week in an inflatable ball. it was a half show, half music video. fans and musicians were onstage in bubbles. in the uk, 2500 fans listen to sam fender back in august. they were separated into groups of five on elevated vip platforms in a socially distant concert, and the expectation is that will continue. the industry is projected to lose $9 billion but neil, it seems like it's going to be awhile before you can mosh pit and crowd surf any time soon, possibly summer 2021. back to you.

neil: for the days of lawrence welk. i don't think he ever used mosh pits. kristina, thank you very very. . doesn't it seem like forever since we had concerts or anything like that? stay with us. ♪ ♪ . . ♪ ♪

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paid to dunkin''s stoke. there is takeover talks. the company could consider going private. a good deal of attention. there are potential holes making this all happen but right now they're baking it up and cohave something delicious for investors. i am done. here is charles. charles: now that was master of work, appreciate it, neil, thank you very much. good afternoon, everyone, i'm charles payne this is "making money." breaking at this moment stocks tumbled out of the gate after that sluggish performance last week. there are headlines including covid-19 cases on the rise. potential reclosings looming large and stimulus talks. i got to tell you more to it than the news that is really not news. these kind of selloffs have been freight entry points. i will ask several of my favorite investment managers what they're doing now