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tv   After the Bell  FOX Business  October 26, 2020 4:00pm-5:01pm EDT

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some fears coming out of the market. we're seeing volatility index begin to lower on a day where the truth is we're seeing yet another crest in coronavirus cases. [closing bell rings] much more to be heard from and said, "after the bell" is next. thanks for joining "claman countdown." i will see you tomorrow. connell: lockdown fears slamming into wall street on this monday. stocks are plunging throughout the day. virus cases rising around the country. also spiking in europe. i'm connell mcshane. welcome to "after the bell." we check in on the numbers, with the dow, first of all down more than 950 points at the low of the day. we have comb well off the lows. about 300 points off the low. closing down by 650 points. there is a lot going on here. election uncertainty, not just the presidential race and some of the senate races and lack of stimulus action out of d.c. all of that adds to the
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volatility in the markets today, it could had into it during the election next week. speaker nancy pelosi had a conversation with treasury secretary steve mnuchin late this afternoon. we'll have more on what we know about that conversation here as we bring in our reporters. fox business team coverage. blake burman at the white house for us. today we're starting with ashley webster on the market selloff. ashley? ashley: what a day it has been, connell. all sorts of skittishness and fear on wall street. fear of a second wave in covid as weir seeing in europe. fear of the unknown when it comes to the election just eight days away. fear congress will be unable to finally agree on a stimulus bill. you put it all into the hat. this is what you get as a result. the dow off 650 points at the close. but was way down more than that. 950 at one stage. the s&p down nearly 2%. the nasdaq also down about 1 1/2%. all 11 sectors on the s&p 500 finishing down on the day led by
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energy, tech and industrials. even the safe haven utilities losing a third of a percent in the session. i mentioned energy. we have oil prices on the screen for you, falling more than 3% today, to finish well below $40 a barrel. we did see stocks with the most to lose from rising virus cases, those stimulus relief, lead the decliners today. look at the cruise lines if we can. these stocks have been crushed and my, oh, my, not a pretty picture, royal caribbean down 10 1/2%. carnival down 8 1/2%. norwegian cruise, down 8 1/2%. you can see united also down 7%. delta air down 6%. these are the stocks that just cannot catch a break. one standout stock though has to
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be dunkin'. not dunkin' donuts anymore. they dropped the doughnuts last year, up 6%, on reports that the parent company is in talks to be taken private by inspire brand that own buffalo wings and arby's. that report certainly giving the stock some nice energy today on a day when we saw mostly red across the screen. that's it. an interesting day. not for the faint of heart, connell. back to you. connell: not at all. had to search far and wide for dunkin'. a little bit of green. thank you, ashley. let's get to the virus now. the average number of daily covid-19 cases in the u.s. hitting a record high. we have more from jonathan serrie live in atlanta. jonathan. reporter: connell, daily cases, a single day on sunday were more than 60,000 which were six times higher than what federal health officials would like but they
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set new records on saturday and friday, exceeding 83,000 cases in a single day. el paso, texas, cases are growing rapidly. leaders are staying residents to stay home for two weeks. the judge has a 500-dollar fine for people that violate a 10:00 p.m. curfew. a influx of patients at a local hospital led to creation of a temporary hospital set up at the civic center. as the world health summit meet this is week, the u.n. secretary-general says that the covid-19 is the greatest crisis of our age. >> cases are still rising. new spikes in ways that are occurring that suppressed the virus foremany months. reporter: astrazeneca announced the vaccine it is developing in partnership with the university of oxford produce as similar immune response in young and older adults. this increases hopes the world
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will have a safe and effective vaccine before the end of the year however dr. anthony fauci cautions that the first doses will be limited and prioritized for health care workers and high-risk individuals. the general public may have to wait until the second or third quarter of 2021 until we start to see shots going into our arms. connell, back to you. connell: thank you, jonathan serrie in atlanta. in the midst of all this, it was a busy day on the campaign trail for president trump. check in with blake burman live on the white house north lawn. blake. reporter: three different stops in the state of pennsylvania for president trump. this state could be crucial for his re-election and here is why. 20 electoral votes are up in the state. democrats won six elections from 92 to 2012.
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he won by just una percentage point. when you look at "real clear politics" average, potentially joe biden up by a handful or so. this is the president's first trip to pennsylvania since biden said at last week's debate he wants to transition away from the oil industry. that is where the president began his remarks today. >> biden energy shutdown would inflict deep pain and misery on pennsylvania, mass layoffs, constant blackouts, brownouts, soaring gas prices. nice to have the two dollar gasoline, isn't it? [cheering] reporter: before he left for pennsylvania today, the president took to twitter on several occasions to complain about the coverage of covid-19, even suggesting that covering the pandemic that has killed more than 200,000 americans could amount to a violation of u.s. law. for example, the president writing at one point, quote, covid, covid, covid is being used by them in total coordination in order to change our great early election
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numbers. should be an election law violation. this appears to be part of his closing message. >> 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. covid. [cheering] today, let's talk about covid all over europe, right? europe spikes they don't talk about that. we're rounding the turn. reporter: as you saw from jonathan's report, you talked about cases are rising. meantime back here in washington, the house speaker nancy pelosi, the treasury secretary steve mnuchin spoke for just shy of an hour this afternoon. according to pelosi's office they say there is still an issue with testing and tracing. that portion of the potential bill. bottom line here, connell. the stalemate right now continues. connell? connell: it does indeed. blake, thank you. here to discuss all of this is dan henninger, "the wall street journal" assistant editorial page editor.
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dan is also a fox news contributor question have a whole segment on fracking in pennsylvania later on in the show. i would focus for you the virus spike, the decline in the market, stimulus hopes, lack thereof. on the virus obviously we have an election coming up in a week. this is all about whether we'll lock down or not. as blake mentioned the president is presenting his closing argument that is the opposite of that. some of the things he said were simply not true. the cases being up because we're testing, testing. it is a fake news media conspiracy. the cases are up but the number of positive cases on a percentage basis is higher, 6.2% yesterday, versus 5.2% the week before. hospitalizations are up. it is not just testing, dan, what do you make of the closing argument for the president? >> well, connell, it is not just him. it is joe biden as well. my reaction is all this, i have to say something of a pox on all their houses. we have in the 8th month of
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experience with this coronavirus and our approach to it is no more different than it was back in march or for that matter 100 years ago in 1918 when we had the spanish flu. which is to say faced with the problem, the first thing we think about is restrictions. but consider where we are now. yes, we know about this virus. we describe it in terms of cases. we talk about it in terms of the number of hospitalizations, icu units being used and finally the number of deaths but the past eight month have shown us there are other variables in play as well. there are shattered businesses. there are people with no incomes and educational system falling apart and not at least the exist sense of chronic diseases with cancer and for sure they will produce more deaths in future. our reaction to the kind of news we're having the past week or
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so, nothing more than more restrictions and perhaps throwing $2 trillion at the country and hoping for the best. i think it is a very pathetic commentary on a presumably sophisticated country and presumably sophisticated system that we can't come up with a better approach than that. connell: the market is assuming that we can't, we can't -- not at all, approach than that. that would be the reason you sell off aggressively because you assume, you look at the numbers. you see the spike in cases hospitalizations and everything else. then you start to shut down again, right or wrong that will be reaction on state and local level. that is the obvious concern from investors? >> yeah. obviously they're concluding that the overwhelming pressure and incentive will be for more shutdowns, regardless of the details in any of these places. it is just the crudest possible way of thinking about this problem. i am not going to underestimate
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the reality of 80,000 cases a day. that is a serious issue. there is no question about it. i think the president is really understating it and perhaps to his own detriment with the american public. but at least i think there are a lot of people out there who would like to know how to live with the virus within some degree of restrictions, we can't just simply go our merry way, but nonetheless they're looking for a better sense of guidance on what is doable and what isn't doable from the public health authorities. whether they are governors, mayors or the people running the country in washington. connell: okay. final point, dan, what changes after the election, either on this front or on this whole discussion about stimulus? we've been back and forth with, for weeks. i mean there has been, there was some case made. some investors who said, if the democrats sweep, if they take all three houses means you get more stimulus. that means they will spend like
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crazy. as polls tighten up. some say less likely. some say that contributed a little bit to the selloff. what major factors change after the election? as you say that, president trump is descending the steps down air force one, at johnstown, pennsylvania, the third rally in the state. he will have it at martinsburg pa in blair county. he won that country. there goes the president. finish the thought, what changes after the election? >> well after the election i suspect there will not be a stimulus package passed unless of course, not, even if the democrats take control of both the senate and the house, i don't see it happening under currently republican-held senate because they really to not believe spending another trillion dollars. as a practical matter, connell, i don't think nancy pelosi at this point sees any reason why she needs a stimulus package
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passed for political reasons. i think she pocketed the election. she thinks it will be a blue wave sweep. she will wait until january to pass, if she controls the presidency as she will, and both houses of congress, that is when she will take two trillion dollars, spend it on a piece of legislation more to her liking than the one that is in front of her right now. connell: you wonder if the president says, you said calculations mittally are to his detriment, if that is also to her detriment to the democrats. we'll find out soon. dan henninger at the journal. another thing to watch is technology. silicon valley is under pressure. big tech ceos are ready to get in the hot seat on capitol hill. how about the timing of this? comes in the same week that many companies report their earnings. we'll have more coming up. plus northern california is bracing for continued high
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winds, a critical fire danger amid planned blackouts. we'll be on the ground there, to have the latest on that for you. something of a bright spot amid this pandemic. thousands of small businesses have been forced to shut down permanently but now some restaurants are finding new ways to open their doors. we'll be right back. ♪ non-valvular afib can mean a lifetime of blood thinners. and if you're troubled by falls and bleeds, worry follows you everywhere. over 100,000 people have left blood thinners behind with watchman. it's a one-time, minimally invasive procedure that reduces stroke risk--
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connell: really big week for plug tech. ceos of facebook and twitter, said to appear for the commerce committee. that is day ahead when many of these companies report their earnings. apple and amazon reports on thursday afternoon. you're watching show on thursday afternoon. this is insider columnist and still a fox business contributor, apparently after signing with business insider, they gave me a free pair of phones which is very, very nice. good to see you. those are, right. noise canceling and everything. this is a big week, right? these hearings are always a little bit awkward and strange but anything that might come out of it when these ceos are up there, do you think on capitol hill? >> well, he hearings are narrowly focused on this very
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important and very obscure an complicated piece of legislation called section 230 of the communications decency act of 1996. that shields the social media companies from liability for all the things that are on its platform. it is an important topic. it won't get resolved anytime soon. i suspect they will spend relatively time talk about it in these hearings. what members of congress, particularly the republicans really want to do is beat up twitter and facebook over the, you know, perceived censorship on their platforms. connell: now that is all related, right? in some ways that section 230, says, few other things i think, but the gist of it, just to summarize, no provider or user of interactive computer service shall be treated as publisher or the speaker of the information provided by another information content provider. that is complicated way of saying, basically, you can't be
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held liable for this kind of stuff. if you take that away you connect dots on conservative bias. that could be big trouble for these companies in terms of how they operate, right? >> the law gave them the same law. we're dumb pipes, sending stuff down the pipe how could we responsible for it. members of the both sides of the aisle point out you're doing a lot more than shoving things down your pipes. you're deciding when to remove things. when not to remove things. you have rules. you're acting a lot like a publisher. by the way, this is something i've been advocating for a long time we should treat them like publishers. they look a lot like publishers. connell: they do, actually. you know, the new way we defined publishing. be interesting to how they write that, what agreement is in that in the end. i kind of new way we've been in for many, many years.
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companies in terms of earnings. that fits into the conversation about the selloff down 650 on the dow. everybody will be looking at what they say now, about the future, a future that might not have as much stimulus, you know, a future that might have another spike looks like in the virus either in europe and both in the united states. what about companies in terms of earnings and stock prices. what would you say about that? >> you will see specific cases. apple, i wouldn't doubt had a relatively muted quarter. as we know, the new iphones came out. how is it it looking so far. what do you expect from the new slate of iphones going forward. amazon, you know, they probably are doing just as well as they have been doing throughout the pandemic. facebook, you want to know how are they affected by all the pressure they're on. talking about pulling political advertising for some period of time. will that hurt the bottom line? i think going into it, connell, everybody is thinking about
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netflix. which as we know had these two amazing quarters, said very loudly, we think we pulled forward a lot of our new subscribers who are sitting at home twiddling their thumbs wanting to watch more streaming television. they didn't have a great quarter. i think investors will be wondering if there is a similar phenomenon for any of these other tech behemoths. connell: big week for them. we'll follow it. especially on wednesday and thursday. adam, thank you. read adam lashinsky at over at business insider. connell: good to see you. "fox business alert" right now. zeta, we found out strengthened into a hurricane. it is approaching the yucatan peninsula at mexico. it will take aim at the northern gulf coast by the middle of next week. sate tax the earliest ever, 27 same storm of the 2020 storm season. we'll be right back
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♪. connell: tension on capitol hill today, but one seems to have a predictable outcome. the senate is set to hold a confirmation volt for judge amy coney barrett. president trump's latest supreme court justice nominee that vote will be held tonight. edward law in washington with all the details. edward? reporter: connell, the white house has "operation warp speed" for the coronavirus. from nomination will be confirmation was faster than that, much faster. the vote for judge amy coney barrett expected in about three hours from now. president donald trump wanting to get this done so the courts will no longer be deadlocked at 4-4 on election cases should they come up. president trump: i nominated amy coney barrett to the supreme court of the united states. and tonight she will be confirmed by the senate. [cheering] and become the newest member of the supreme court. >> four more years. president trump: it's a big
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deal. reporter: if there is a swearing-in ceremony tonight, we're hearing there could be one. her work for the justice could be tomorrow. there is no grace period. she could rule on any emergency appeals that were in the works. two are in the works from north carolina and wisconsin. democrats say they are very concerned about the pace of this process. >> they have turned the united states senate into a kind of a conveyor belt of judicial appointments, not just to the supreme court but to federal courts at every level. reporter: after the 30 hours of debate on this supreme court nominee, after it finishes there is not much the democrats can do to block the confirmation. we're expecting 52 votes for amy coney barrett. senator susan collins will be the only no vote. now vice president mike pence will be around the area but again it is not expected he will be needed for a tiebreaker. back to you. connell: edward, thank you. edward lawrence, live in
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washington. as the average number of new coronavirus cases hits and all time high, something we mentioned earlier in the show, one vaccine candidate is reporting encouraging trial results. we'll have more on that. a look what the announcement can mean for the timeline on a potential vaccine. that is later in the hour. nearly a million people in danger of losing power in california as the state braces for more raging wildfires. how long the blackout could last is coming up. after selling out two years in a row kfc's chicken scented herbs and spices fire log making a return. we do have good news today. the popular item will be available exclusively at walmart during the holiday season either online or select stores. there you go. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity.
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connell: back now to the fight over fracking. president trump is getting set to deliver remarks at what will be his third rally in the state of pennsylvania today. three in one day in the state of pennsylvania. earlier today he starts off at the first rally really slamming joe biden's energy plan. president trump: joe biden confirmed his plan to abolishing the entire u.s. oil industry. that means no fracking, no jobs, no energy for pennsylvania families. if biden's plan is an economic death sentence for pennsylvania's energy sector. connell: talk to daniel turner about this. he joins the show once again, power the future, executive
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director. daniel, last time you were on we were talking about fracking a little bit. your organization is advocate for jobs in the energy industry and that is what this discussion has become all about in the state of pennsylvania in the closing days of this campaign. how important is fracking in pennsylvania as you see it by the numbers? >> especially in a state like pennsylvania which is crucial to this election no doubt, but also crucial to the energy industry. roughly 300,000 people in pennsylvania work in energy, whether it is coal, oil or gas but fracking alone employs tens of thousands of people. so when you have one candidate who has flipped flopped back and forth about a fracking ban but admitted last week he will eliminate the oil industry as a whole, your job is on the line, your job and livelihood. the interesting thing about energy jobs, they're founded in rural communities. you don't work in downtown pittsburgh and work on fracking. you don't go next door to get
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another job. these are the best jobs for you. when jobs are eliminated, livelihoods, the towns are destroyed, there is a lot on the line. connell: the trump campaign, the president himself clearly saw an opening in that debate to change the subject from covid-19, not only to the economy, but to your point, to an issue that hits home in a key swing state in pennsylvania with a lot of people. let me put up on the screen a tweet for people. he sent this to air force one or motor caved. the president tweeting last week, joe biden perhaps made the most shocking admission ever uttered in the history of presidential debates on live television. joe biden admitted all caps, abolish u.s. oil industry, no fracking, no jobs, no energy for pennsylvania families. what would the biden plan do? the biden campaign claimed that what joe biden meant to say he wants to ban oil subsidies, not get rid of the whole energy industry, right? >> they tried very marred to
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walk that back. that explains why joe biden will spend the next nine days before election days in hiding. he says the truth willingly or unwittingly. he says the truth, scares voters especially energy voters. 2/3 of our natural gas comes from fracked well. half of our oil comes from fracked wells. if the sites go off-line, you no longer get permits to frack, eventually supply and demand will be out of tilt. we'll go back to the days of 90, 100, 110 a barrel oil. we'll see gas prices at $8 a gallon, like we saw not very long ago. if we take the oil and gas off-line, we'll not put up wind turbines and solar panels overnight. that is a joke. we move at the speed of government. we're decades from the green revolution. what do we do in the transition period? we go to saudi arabia. we go to venezuela. we go to the middle east for our oil. we go to russia for our neural gas, right? so now we're exposing ourselves
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to tremendous vulnerabilities overseas. it is a absolute disaster of a plan. joe biden admitted. that is why his campaign is keeping him in hiding the rest of the campaign season. connell: now is there any -- at all? one of the things i was reading, by the way i've seen the fracking in person, it is amazing from technological point of view how they do it. i've been to north dakota, to the bakken, seen it there and texas seen it there. not so much in pennsylvania, it is amazing from the technological point from the u.s. how they do it. the concerns are environmental concerns. one of the things i was reading today, i'm sure you know who conor lamb, the congressman from pennsylvania, moderate democrat won a special election few years back. he was arguing a transition to natural gas where you're going to natural gas, not just oil you might actually create more industry jobs. that people would just still have a job but it wouldn't necessarily be in the oil industry it, would be in the natural gas industry, net-net, it would come out okay, does
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that make any sense, or no? >> not if you understand what fracking is. fracking is a three or four-day process. it is not a long-term, it primes the pump to put it in layman's terms, right? when joe biden says i'm opposed to fracking i'm opposed to new fracking. all frack something new fracking. it only happens at the very beginning after drill cycle, three or four days. we have two million fracked wells in america. you hear people talk about fracking is a risk, fracking is a danger. where? with two million fracked wells you would think we would find communities all across this country where people are suffering put clearly we can't find them. if you could, you know the biden campaign and rival networks of yours would be there 24/7 showing these stories. fracking has also been around for 170 years. it was invented during the civil war, pretty much by mistake like a lot of great inventions, right? so people don't understand what fracking is. they compare i had to drilling. they're not even remotely the
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same thing. no, there is no transition away from fracking. if we eliminate fracking we eliminate so much of the great fossil fuel which lowers prices, increases the quality of our life and for pennsylvanians especially, hundreds of thousands of jobs. connell: maybe texas too, if it is as close as polls say. we'll watch it in pennsylvania. daniel, we appreciate the perspective. both times you've been own the show. we'll have you back soon. obviously this issue isn't going a you way. dan i'll turner. we'll keep an eye on the president and comment beginning in pennsylvania, third rally of the day in the same state. eight days to go as we continue, early voting numbers are already exceeding the total of early votes we saw in 2016. there have been long lines all over the place, even in new york city. the third day of early voting in new york. on top of that we also work in some fresh concerns over election security. live now to fox's eric shawn with the latest as america goess
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to the polls. eric? reporter: connell, long lines of persons show up during the pandemic are continuing. you're rite about new york city. new york started saturday of early voting here. in new york city there was a crush of people. around the country, more than 58 million 1/2 americans have voted so far, more than who voted in person and used the mail during the 2016 election. new york city saw a lot of long lines on sat dave. the board of elections, said 94,000 people voted. that happens to be double the turned out over nine days for the primary that occurred in june. in terms of election security there are calls to better protect our democracy after iran was accused of hacking into the election system and grabbing voter registration information. the demand is to kibbling kick out the diplomats. he says the u.s. should boot iran's diplomatic core at the
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united nations in new york and any irans representatives. iranians has been expelled before and diplomatic officials visas denied. it is again time to tell the iranian diplomats to pack their bags. >> 2 would be an important action of the united states to be revoking the u.n. diplomats who are here from iran, their visas as well as those further applications in the future. there will be additional applications that will be submitted. when there is a u.n. general assembly, when there might be an annual meeting of imf or the world bank. connell: reporter: there was another type of attack in boston, a second ballot box, a target of arson happened at a box in copley square. boston police arrested a 39-year-old for this. the d.a. said he was not plotting against the democracy,
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but authorities call him a mentally disturbed person. officials say 35 of the 122 ballots were retoward in the fire. they were able to save 87 votes. the second time it happened in over a week. the weekend before last, a ballot box in los angeles was also torched but officials say they were able to identify and send new ballots to all of the voters who had ballots that were incinerated. in virginia, connell, officials there are getting something different in their ballot boxes. they say they are getting thank you notes from grateful voters saying, thank you for what you do and thank you for making my vote count. connell, back to you. connell: all right. we'll take it. boy, interesting, good wrap up of everything, eric. thank you, eric shawn on the voting scene such as it is. household cleaning supplies have been a hot commodity during this pandemic. now there is another one that maybe you want to add to your list. micro ban 24 sanitizing spray from proctor & gamble. it is proctor & gamble's answer
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♪. connell: cutting power as a precaution. over 300,000 customers have been affected as pg and e shut off electricity in california. with high winds creating a perfect environment for wildfires. claudia cowan in berkeley with details. reporter: residents in oakland hills and many across parts of california are still waiting for power to come back on. that could take a while because we're still in the midst of what officials are calling the biggest wind event of the year. they are not taking any chances. winds were just howling overnight throughout the bay area, reining down tree branches and pine needles. in some of the haier elevations in sonoma county, gusts were clocked at 87 miles per hour. add to that low humidity and fire risk, this state suffering through the worst wildfire season ever.
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many fires were sparked by trees blowing into transmission lines and power equipment. pacific gas & electric proactively cut power to 361,000 customers in 36 counties. that is about a million residents. the city of berkeley took the extraordinary step of urging residents who live in the hills to leave early. >> this is a very serious concern. we would not be taking the unprecedented step to encourage pre-evacuations, and raising alarm about this if we did not think there was extreme risk to our community. reporter: tens of thousands of people in southern california are without power as crews put out several brush fires there, including one in orange county that exploded in size and forced evacuations. crews and equipment are at the ready in places where fire danger is expected to be extreme. here in the east bay hills the winds are a little calmer now but much of the state remains under a red flag warning. in some of the higher elevations that warning is expected to
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continue through tomorrow. back to you. connell: claudia cowan, thank you. we've talked today about the dow and the plunge we saw in the market a number of times, down 650 points. this major market selloff at least partly on concerns about coronavirus. now astrazeneca is one bright spot in all of this as it reported encouraging results after restarting its covid vaccine trials. the u.s. did hit its highest seven-day average of coronavirus cases since the pandemic began and we're joined to talk about all of that and perspective to the whole thing with dr. nicole saphier, fox news medical contributor. dr. nicole, always good to see you. thanks for coming on. getting back to the vaccine what do you make of the timing how will it work out, the astrazeneca news today, where do you think we are on vaccines? >> well very encouraging news coming out of astrazeneca saying not only in the younger and
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middle-aged patients are they seeing a good immune spoons to the vaccine but older populations receiving the vaccine is building immune response. that is excellent news as the elderly is more vulnerable to cove. as we look at the timeline we know what this means. several pharmaceutical companies including astrazeneca moderna and others are in late-stage trials. likely they will review most of the data by the end of november. it is possible high-risk people such as the elderly, even health care workers may be able to get the vaccine by the end of 2020. that is a bit of a stretch but it is important to remember that many of these vaccines require two different doses and so it actual will take a few weeks after the doses to get that protective immunity we're looking for. so 20 '20s answer is not going to be a vaccine unfortunate but 2021 we're going to start seeing that protective immunity from the vaccines.
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hopefully by spring we'll have a lot more available good vaccines but again we don't know. we know they will start reviewing the data at the end of 2021 but it is not realistic there will be a widely available vaccine until even spring or summer 2021, if any of the vaccines truly prove successful. connell: that is why there is a debate what to do between now and then, right? that is in the market. people think we might have to shut down on local, maybe regional level in certain areas as we see spikes in the virus and i would be curious if you could add perspective, advice, just kind of a sense where we are? you know, i pointed out earlier when the president argues to open up, open up, some of what he is saying is not true when he says that cases are up just because we're testing. we know the positivity rate is higher. seems more than testing. at the same time i understand frustration people say you're not focused enough on
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therapeutics or death rate not being what it was. where do you think we are in the fight against the virus big picture? >> we're still in a very precarious situation. bottom line we have made leaps and bounds when it comes to our diagnostic capability, our testing, as well as our treatments. we're seeing the death rate go down, hospitalization go down. we're protecting elderly but we can treat the patienteds once they get into the other. we're testing more than ever but we're seeing rising positivity rates across the country. the problem we have with covid-19 is that it has a higher hospitalization rate than the flu and many other illnesses. when you think about it, we had the highest number of cases, we had 470,000 over the last 70 days it, has a .2% hospitalization rate that will put a lot of people in the hospitals. our hospitals function 2/3 capacity for all other chronic illness we have, heart disease, cancer, lung disease, kid any
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disease. we have to make sure we have hospital beds. that is the biggest problem. yes people, the far majority of people will recover just fine from covid-19 but we have to maintain our hospital capacity. we need to keep people healthy as possible. so we made leaps and bounds with diagnostics, and leaps and bounds with treatments. we still have aways to go. we need to prevent the viral infection, lower transmission for the virus. we're waiting for vaccine. that will help us prevent illness, for now, 2020, our goal is behavior changes. unfortunately will be continued distancing. limiting indoor gatherings. wearing a mask when necessary. hand hygiene. get your flu shot. so many americans are hospitalized every year with the flu. we have to keep the hospital beds open. that is one way to do it by getting the flu shot. connell: all important items to mention, yeah. a balanced approach. doing our own part. dr. nicole saphier, thank you as always. we appreciate it as we try to
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get to the place where we have the vaccine. meantime you're looking for a less invasive test for covid you're in luck on that front. costco is out with the at-home testing kits. they're available for allowing customers to test for coronavirus with saliva samples. the tests cost 130, to 140 hours. results in 48 hours once the testing center receives a kit ♪ smooth driving pays off with allstate, the safer you drive the more you save you never been in better hands allstate click or call for a quote today
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who need them most all because of caring people like you. - like me? - no, the people watching us right now at home. - oh, those people. hi people. - kaleb and i know not everyone can help right now, but for those of you who can, we hope you'll this special number on your screen right now. - you'll be making sure our amazing doctors and nurses can keep helping kids like us, who need them now and in the days to come. - your gift will make a huge difference for kids like us. - ooh, ooh, show them them the thank you gift. - okay, okay, hold on a second. with your gift of $19 a month we'll send you this adorable, love to the rescue blanket as a thank you and a reminder of the kids you're helping with your monthly support. - so what are you waiting for? you can use your phone and call, or go to loveshriners.org to give and join with thousands of other generous people
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♪ ♪ connell: well, we know thousands of restaurants have been forced to close for good because of covid. some business owners, though, are now seeing ap opportunity. and grady trimble is in illinois with that story today. grady. >> reporter: connell, not the best day on wall street, but there is some optimism here on main street. we are literally on main street in oswego where you can see this restaurant is under construction, getting ready to open open next month. and this restaurant's not alone. according to yelp, 6500 new
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restaurants opened across the country in september. that's more than 2016, 2017 and 2018 for the month of september. matt is one of the owners here. people i say you're a little crazy for trying to open a restaurant in the middle of a pandemic, but this has been in the works for a while. >> absolutely. we've got a plan in place to weather this storm. regardless of what the numbers, you know, amount to. carryout and delivery, you know, reduced dining inside. we've got the plan to make it happen. >> reporter: and, connell, this restaurant alone will employ between 40 and 70 people, so that highlights the importance of these types of establishments. so when you add up 6500 of them opening, you hate to see the ones closing, but people are seeing a lot of opportunity even during these tough times in one of the toughest industries. connell? connell: we love to see business owners who are going for it, and
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there's an example of that, as you say, on main street. grady, thank you. thanks for joining us today and every day. remember, we had some buying into the close. instead of being down 950, we closed down 650. "lou dobbs tonight" starts right now. we'll see you tomorrow. ♪ lou: good evening, everybody. we're only eight days from election day, and president trump is campaigning at a pace that would do credit to a man half his age. president trump held three rallies today in the critical battleground state of pennsylvania. finish three-- three rallies. pennsylvania is now crucial to his reelection. fracking and natural gas, big industries in pennsylvania, and at all three rallies today president trump attacked joe biden for shipping american jobs

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