feedback whatever it is. varney you viewers. we would love to having a aggressive hate varney mail. etf been waiting for it. susan: i have a question. stuart: don't have time for that. time is up. before we get to the hate mail stuff. let's go to neil cavuto. neil, it is yours. neil: did you say you needing a agressive hate mail? stuart: yep, yep. i do. some of yours. neil: yes, indeed. you can actually have all of mine. stuart, thank you very, very much. we got some doozies but you can't repeat it on air, stuart. that's the problem. welcome, everybody, i'm neil cavuto. you're watching "coast to coast" on the fox business network. we're looking at spike in coronavirus cases. right now hospitalizations are jumping too. that is something we never seen dovetailing with the spike in cases. we'll get to the bottom of what is going on. whether a case of a lot of testing going on or whether

we're taking an ominous turn. let's go to jackie deangelis following all of this and some of the restrictions being put in place to respond to this. jackie. reporter: good afternoon to you, neil. that's right. the market is lower because of spike in cases. we've been talking about pretty much all week. that is after we got the news pfizer or biontech come to stronger conclusion on their vaccine it would be 90% effective. there are still so many questions about this. today on mornings with maria the biontech founder talked about the vaccine, how long it might protect people. roughly a year or so listen. >> there's a good chance that the vaccine not only will protect us but could protect from infection or virulent infection for a significant period of time. i personally expect that the vaccine could protect us with, with protocol for a year.

if we learn we need to reimmunize. we could do that after one year. reporter: meantime the pfizer-biontech vaccine was not the only one in the works, right? we're following moderna closely. its stock is up today on optimism from the company saying it is one step closer to understanding how well a vaccine works. there is enough data from the late-stage trial to start to efficacy. the market would like to see a couple of vaccines out there. president-elect biden's covid advisor, dr. michael osterholm suggest as four to six week lockdown to stop the spread or at least have that curve flatten out a little bit but comes with a caveat, neil. he says a package of financial package, would be necessary to cover the cost of that lockdown. when it comes to workers and lost wages et cetera. we know that congress has not been able to move on that. finally here in new york, new york state, governor cuomo adding some new restrictions to make sure that the spike doesn't

get out of control. it has been over 3%. the rate right now. and that is one of the issues. effective 10:00 p.m. eastern on friday night, bars and gyms will have to close at 10:00. when it comes to private gatherings in your home they're supposed to be limited to 10 people, neil. neil: wow. here we go again. i'm sure that, that science advisory to joe biden indicating a six week sort of a mini lockdown type after thing this gets out of control, i'm sure that helped to add to the selling. we'll see, jackie, thank you very, very much for all of that. gary kaltbaum with us right now. nancy davis as well following the market response on this. gary, i begin with you. i'm wondering what you make of this talk that right now with these spikes in cases, forget about states that are reimposing restrictions, various lockdown measures of their own but that a president-elect biden could implement something far more sweeping upon taking office

january 20th. what do you think? >> both you and jackie nailed it. dr. as osterholm talking about potential lockdown doing the trick. you see it on both sides of the market, neil. anything that benefits from a lock down which did so well for months like the at-home and and software stocks, you see the nasdaq starting to act better. the things benefit from getting rid of the stupid virus are pulling back afterp monday's gargantuan gap to the upside. leave no doubt that is part of the equation. part of the equation is the talk of shutting some things down earlier. that affected businesses. so yeah, i think you got a little one-two punch here for the second. neil: you know, nancy, the good news is the vaccines that are out there, they're beginning to line up kind of like planes at laguardia, besides the excitement around pfizer and biontech and its drug, dr. fauci

hopeful any sort of vaccine will indicate hope is on the way, but you got moderna, russia with the so-called sputnik v drug it claims have a 90% drug efficacy rate. i don't know if that is the case. a lot of hope out there juxtaposed against the lockdowns or restrictions, closing bars, restaurants. how do you think is weighs out just for the markets? lockdown as you guys recently pointed out is the word of 2020. you know you can see it even in today's employment numbers. so far we've regained 12 million, about 12 million of the 22 million jobs that were lost in march and april but the question is whether we will need an additional lock down because cases are rising. we're coming into the winter months in the northern hemisphere. europe is already in a lockdown. lockdown is a key word because

lockdown will likely mean stalling of economic activity. while there might be some winners and losers as gary pointed out, i do think it could be for a rocky period for financial markets. neil: you know, gary, meantime, southwest airlines is the latest to say, look, things are going to slow down as these covid cases spike. now obviously hoping for stimulus. maybe in a lame-duck session. that might be a bit of a leap but you who do you see this playing out in the next few weeks and ahead assuming it goes off without a hitch, a biden inauguration? >> well the airline industry is still about 35% of where it was last year if you look at just the tsa numbers. so there are certain industries and there are certain businesses will continue to need a bridge as long as they're staying down. if you start going after restaurants and gyms things like that, that will just add to the trouble. i must say when i heard

dr. osterholm say, oh, don't worry, we'll just have more debt to pay off these people that would have to go down thrilled me a the lot. i look at debt and deficits, you know sometimes it's a must for government to get involved. i'm a big believer when there is a war you fight it from the top down. i believe the virus is a war. so hopefully we get a little bit more of a bridge if this continues but i must tell you as i look into maybe next summer, if this vaccine is out, you want to own airlines, cruise lines, energy stocks, the financials. anything travel and i'm counting on that. i'm not in them yet but i'm watching them very closely. i know what happens if we get back up again. neil: nancy, any of the anxiety, the legal back and forth on the election affecting your thinking on stocks right now? i know markets abhor uncertainty. most seem convinced that after all of this counting including karl rove, it will be president

biden in january what about the markets are handling all of this, and ongoing count, recount, check for fraud, check for rigging, all of that? >> it seems to me that the markets are looking through the recount and are pretty euphoric but i think the facts are is that the electoral college isn't done. it is not over. you know we think we have a plan but that is the expectation that is solely priced into the markets right now. i obviously don't know the outcome of the recounts and what is going to happen but i do think it's a little bit of, you know, rose-colored glasses that things will be as expected and we just don't know yet because the data is not finalized. neil: no. until it is you can't dot the is and cross the "t"s until then. we'll see. nancy, thank you both very much. ii have a some good news in the new york metropolitan area

where for the first time since this entire pandemic we're seeing uptick in new york city rentals. again from very, very low levels. they had to do a lot of wheeling and dealing, throw a lot of incentives and goodies upwards two months of free rent to get those. they got them just the same. don peebles with us, democratic fund-raiser, much, much more. don, what do you think of this? this is a turnaround albeit from very low levels, where do see it go from here? >> rents are going down significantly, that is compelling young people to come into the marketplace or get a better apartment. you're seeing a shift. you have to look at absorption of rental apartments. i don't think that is a positive of a picture. i think we're seeing people shift around. rental rates, rental buildings, for example, the price declined

almost 40%. called on a little while ago a deal we're working on with a top broker in new york city, bob nagel. he was giving me statistics which are staggering. 1600 families pay 27% of all the taxes to run new york city. 65,000 pay 53%. i mean you think about those numbers. they're leaving. what does it take for them to you know, fundamentally shift new york? i think that is what is happening is. new york is fundamentally changed. this was before covid. covid is just accelerating these things. so i'm not optimistic on rentals as an owner, but as a tenant, there hasn't been a better time in a decade or more. neil: i'm glad you mentioned, despite the month over month up tick, year-over-year prices and rent activity running down double digits in excess of 20%. having said that there is a sort of a view, i don't know whether you share that, as goes the big apple so goes the rest

of american urban centers and cities. all of whom, most of whom who have been walloped by this whole pandemic. do you see the uptick now in rental activity again, from these low levels as a sign that things stablize from here or will it continue to bump around at the bottom? >> well, i hate to quote de blasio but i will quote him this time, it's a tale of two markets. the reality is the high-end, luxury condo market where these high tax-paying residents are, that market has plummet inned over 50% in many instances. the more affordable, workforce for younger people, they love new york and they see new york on sale and they can stay, get a better quality of life and work remotely or get a little more space. so that is driving that activity. but i just think that ultimately you're going to have such significant foreclosures on

property owners. that is happening. that is just the beginning. that will destablize the market. i don't think the country goes where new york goes. new york is certainly an important city and it is a bug indicator but i don't think that that will have a ripple effect on other cities. some other cities are handling a lot better. los angeles, for example, its housing market and condo market is actually on the up swing which is contrary to, very different to what you see in new york. neil: interesting. don, good catching up with you, thank you very much, don peebles own all of that. the on going count in four or five battleground states. the trump campaign continuing to move full steam ahead a prominent republicans are saying keep the count going, mr. president. you're entitled to that. you're still going to lose. after this.

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♪. neil: well if you think about it, ron klain has been joe biden's been joe biden's trusted advisor for the better part of two decades. he will be the white house chief of staff. we could be getting announcements real soon

including crucial cabinet positions, joe biden prepares to become the president of the united states no matter the legal rumbling in half a dozen battleground states. hillary vaughn with the story. reporter: neil, we expect those picks to trickle out over the next few weeks. joe biden has an empty cab bet but did make first pick for his administration, announcing his long-time advisor ron klain are as chief of staff. he was chief of staff during he was vice president. he has experience through an economic recovery and during a pandemic can do it again. in a statement, his deep varied capacity to work with people all across the political spectrum is precisely what i need as a white house chief of staff as we confront this moment of crisis to bring our country together again. the pick is getting thumbs up from progressives. alexandria ocasio-cortez said the pick was good news and encouraging choice. senator elizabeth warren said

klain is a superb trust who earned trust in the democratic party. biden is expected to announce key positions over next two weeks. progressive activists are pressuring him to stuff his cabinet with progressives. the sunshine movement released their wish-list. senator elizabeth warren as treasury secretary, squad members, congresswoman rashida tlaib as hud secretary, and congresswoman powell as hh secretary. some democrats are warning their party not to be pushed to the far left by progressives. >> we have to govern towards the center. we move towards the progressive agenda of course, move to health care is good example. are we moving to "medicare for all," of course not? that is not on the horizon based in the near term based on the results of election. reporter: some are openly campaigned on the job. senator bernie sanders was asked on cnn if he was offered labor secretary, would he take it.

sanders says if he has the opportunity to advocate for working families to have the platform he would do it. neil? neil: you know the elizabeth warren one surprises me because if she were to be offered a treasury post massachusetts obviously a republican governor. so that republican would put in place a republican senator and given this close as a tick battle for control of the senate, that just doesn't seem likely. what are you hearing on that front? >> well, neil, that is certainly something that they're going to be considering especially as democrats are recognizing openly that having control of the senate is the key to get everything that they want done done. so perhaps biden takes that into consideration. at the moment we are not getting any indication that he is even considering senator warren for that position but that is something that progressives are pushing him to do. i guess we'll wait to see if we get any indication over the next

two weeks if that is something he is willing to do, neil? neil: one thing for him to request. another thing for him to accept. hillary, thank you very much. hillary touching on this as well the legal fight the trump campaign continues to have. i've been watching this very closely and it really seems focused on three states right now. recount there or a count of the votes as they stand right now to block these states certification of a biden victory. in all they total 47 electoral votes, in pennsylvania, michigan and arizona. all of which, right now have been called for joe biden. the margin of error is fairly close. in pennsylvania about 50,000 votes, or 3/4 of 1%. in michigan a little wider, about 146,000 votes or 2.6%. in arizona, only 0.4%. about 12 to 13 percent but again, if they were to denied recertification, the electoral

votes are taken away, then all of sudden joe biden is under, well under the 270 he would need to be president-elect t might be a hail mary pass. that is what they're doing. that is the strategy. ian prior, the former justice department deputy director, public affairs. ian, the strategy is nip away one state at a time to delay the certification, in so doing delay you know, making it official that joe biden is the electoral vote winner. what you do think of it? >> yeah. well i agree. i think that you got to start with the predicate that you know, no matter what people will tell you there is voter fraud in elections. in 2018 you had a republican consultant going out harvesting ballots for the republican congressional candidate that won. that election was eventually overturned. you have indictments in philadelphia from this past summer of a former congressman committing ballot fraud.

you see it in all the elections but the question is, are you going to find it in a significant amount to really make up those margins? so i think a lot of the things that the trump campaign is doing now is they're filing lawsuits but it is also, you know, delaying the process so they can find sort of bigger cases if they are out there which they are going to need in places like pennsylvania and michigan if they're going to be successful. neil: apparently karl rove was echoing that same sentiment in a "wall street journal" editorial today in which he said, i mean there is no doubt that you have got to prove systemic fraud and there is a good deal of fraud goes on, as long as i have been alive dead people have been voting in elections. many say they helped john f. kennedy, made him president in 1960. having said that, are they in the numbers now that would tilt the race in any of these states? rove's conclusion was no but what do you think of that? >> that is the real question. you talk about kennedy.

even go back to lyndon johnson's first senatorial win where they stuffed the ballot box. history is rife with examples of this. that is really ultimately the question. you will always be able to find fraud if you look hard enough. if you have to make up 146,000 votes in michigan, will you be able to find that? you will have to find a raketeering conspiracy going on in michigan. the same thing in pennsylvania. i'm sure they will find, thousands of examples possibly but you know, 40,000 examples, that is why they're delaying because they need to find that systemic fraud if it exists and if it does, certainly they need to look at it now because if biden becomes president, there is no way a biden department of justice will look at fraud in the 2020 election of the time to find it, if it exists is now. neil: you're a legal expert. one of the things i found interesting is that democrats are the ones now say you know cool it with this vote after

vote after vote, count after count, they were pursuing that four years ago. it was republicans were saying four years ago enough already. i understand "different strokes" for different folks depending on the election and the time, i get that. but is it your sense some of positions raised whether they tip the balance of states or not, and that seems unlikely especially if we move ford a country will increasingly do a lot of voting before election day, regardless when that election is? >> i think that is a 1000% accurate. look, going, the previous presidential elections looking 80,000,0,000, mail-in ballots. now you're looking at 800,000 mail-in ballots. that is place where you find the fraud. you can pay people to give you their absentee ballots, sign them for whoever you want, send them in. we need to look at system, find out how it to make that work. this is brand new because of the

level of the coronavirus. democrats are out now in iowa, you have a democrat congressional candidate alleging you know ballot irregularities right? you have aoc in georgia saying that there is voter suppression. voter suppression is voter fraud. they're the same thing. there is different way of talk about it. the fact it exists on both sides. we need to root out the problem. we need to figure out how to make the elections more safe, more secure, going forward to the extent there is fraud, we can catch it quickly. it doesn't happen in the mass amounts that could potentially swing elections as we saw in 2018 and as the president's campaign is looking for right now. neil: very interesting. ian, i learned a lot talking to you. thank you very much. the big picture there. >> thank you, neil. neil: ian was pointing out in some of these races for example in lyndon johnson's first of united states senate, the margin of error in that close, that contest, 100 votes it made all the difference to pursue this. here it's a little more difficult. that doesn't mean it is any less

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♪. neil: all right, so you missed going to concerts, missed just being mingling with other people, maybe great music, maybe a comedy show and all, there are plans afoot that will eventually happen but you have to do something first. kristina partsinevelos on what that might be. she is at madison square garden which used to hold a lot of big events. what is it, kristina? reporter: yes. you would have to show up your phone and prove you took a negative covid test or a vaccine. this is something that ticketmaster is actually exploring. it is a potential situation, a hypothetical i should say but you would have to show on your phone that you got a negative test result within the past 24 to 72 hours of viewing a

concert. ticketmaster did say though that it is a situation that is just something they're exploring at the moment. the enforcement would be put on the event organizer, not ticketmaster itself. keep in mind ticketmaster owns live nation. live nation owns a lot of venues the "house of blues" in dallas, the fillmore in colorado. this would be a massive endeavor. why? because in 201,957,000,000 tickets were sold around the globe when it comes to concerts that would be a lot of phones they have to check. you would have to have the app. they would with a third party health care provider, lastly vaccine distributors. ticketmaster was adamant to us. they said they wouldn't be storing your private information. it would be up to the third party. at this moment, neil, the fda is not approving such transfer of private covid test results but

the ticketmaster president said this could be the future of employment, much air travel, of entertainment. for now they're working on socially distant seats as well as contactless entry. no set timeline just yet. back to you. neil: i can definitely see that happening, kristina. thank you. that is a very interesting report with kristina, right outside of madison square garden there. congressman jim banks, republican from indiana. what do you think of that kind of a plan, congressman, they need proof or business or an entity or entertainment house, ticket distributor needs proof that you've been testing negative for the virus, you come on in watch the concert or the event? >> with bruce springsteen coming out with a new album, i got to tell you whatever it takes for me to see him again in concert, i'm willing to the take the covid test if it takes to get through the door. neil, these are the big questions that america has ahead of us. it is going to take real leadership to step up to the plate all across the board to answer questions like these.

how can we get society back to where it needs to be so we can have large gatherings. so americans can enjoy themselves once again. that is the type of leadership i hope come january with a new congress, with an election out of the way, whoever sits in the white house, likely joe biden, i hope we'll have real responsible conversations about how we get there. it starts with passing a new deal. that could and hopefully happen in the lame duck, where we extend the type of liability protections businesses and schools are begging forward to stay open and reopen. to provide relief for small businesses and for the american workers so they can stay at work and keep a job. that is where this leadership begins and hopefully that will happen when congress gets back to work next week. neil: congressman, you mentioned assuming, i don't want to misquote you, sir, joe biden is the next president here, a lot of your republican colleagues are holding off on that, waiting to see how the legal battle goes. do you think the president and

his team are wasting their time, it is too much of an uphill battle, what? >> not at all, neil. we have to allow these court cases to play themselves out of. the recounts to occur and, that is going to happen. all i'm suggesting is that, whoever is in the white house come january 20th needs to work with the congress to answer these big questions, show the leadership that we have to show to get america back on track. that is what the american people are begging for. that is what they said on election day. put ideology aside. they rejected the socialist platform of the far left part of the democrat party, giving big republican wins to house republicans who were running and the election results speak for themselves. they just want us to show leadership. when we go back to congress to open up congress next week, let's show them type of leadership to pass the covid relief bill that doesn't tack on trillions of dollars in wasteful spending, but does the basic things, the right things to

provide ppp protections extend them for small businesses and provide liability protection. neil: on that front that will happen but congressman, i know you sit on the house armed services committee and your republican counterpart in the senate, senator james lankford of oklahoma is very concerned about the white house's refusal to start giving joe biden and his team some of these intel briefings. and i'm wondering if you share that concern because, at the most, even if he was getting this information, it turns out he isn't going to go to the white house after all, no harm no foul? he wants to force the issue to make sure that beginning pronto joe biden and his team get to receive these briefings. do you feel the same way? >> i do, absolute lipped. i agree with senator lankford. it doesn't matter what side of

the aisle either of these contenders sit on. those are the same types of privileges we would provide to anyone who might end up in the white house on january 20th. so joe biden deserves to be admitted into these opportunities to view classified material, to be briefed by the intelligence community. if he does become commander-in-chief, he deserves to know what is going on around the world. there is no time, no time to waste with the tumultuous nature what is going on around the world. we need our next commander-in-chief, whether it continues with president trump or if it is vice president biden, they both deserve to be briefed by the intelligence community. i do agree with senator lankford when it comes to that notion. neil: finally you know, we have this process to go through to count these votes, i get that, congressman. but is it your thinking it will still be joe biden, he will be the one sworn in on january 20th, that the president should be gracious in

accepting that, do you think he will be when it comes to that? >> i have no doubt that, whether it is joe biden or donald trump, either situation they would be gracious. what makes america great what happens on january 20th. every four years a peaceful transfer of power. neil, it doesn't matter, it matters to me. i would prefer president trump. he has an extraordinary record as four years of president. i hope he serves for another four years but whether it is him or joe biden i will be on the platform as member of congress observing that peaceful transfer of power when the inauguration occurs on january 20th. that continuity of government passed on from one president to another is something that makes this american experiment work so well. i have no doubt that it will continue well into the future. neil: but are you worried when the president says it looks fraudulent, it looks rigged that is a hard thing to come back from? it is going to cast some aspersions on joe biden, on the,

you know duly-elected next president of the united states or will it pass? will people say all right, politics, didn't go his way. the president will be gracious? he will go with him from the white house to the capitol, sit up there and watch this guy get sworn in? >> yeah. neil, that is why the, that is why the recounts have to work. the court cases and, and in these situations have to work. that alone will give credibility to the election results and then we will have a peaceful transfer of power on january 20th, whether we -- neil: if we don't, if the president doesn't get to that stage, sir if the president, would you be worried? >> i'm not concerned that would be case. that is, i have no doubt that president will be gracious if it comes to that, or joe biden will be gracious in return. neil: all right. congressman, very good catching up with you, jim banks, beautiful state of indiana, serves on number of very crucial committees. very important on this.

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♪. neil: all right. how do you count more than five million votes once again by hand? carefully and what would likely be slowly. jonathan serrie with more in atlanta with the big recount now going to be on, by hand no less. reporter: carefully, slowly, paying a lot of over time to these election workers. georgia secretary of state brad raffensperger says he wants this manuel recount to begin before the end of this week because georgia's new electronic voting machines produce a paper copy of each digital ballot, the recount can indeed be done by hand literally. because the margin between

president trump and president-elect joe biden is so thin in this state, every single vote cast for president in georgia will be recounted. secretary raffensperger said his office is investigating specific complaints but there is no evidence of wide scale voter fraud. >> we believe that the ballots were counted accurately with the machine count and the resulting audit, with the hand counting of the statewide recount will confirm that. that. reporter: the hand count will only look at the presidential race for georgia and will not look at the tight race for u.s. senate seats. kelly loeffler are david perdue are defending their seats against democratic challengers, rafael warnock and jon ossoff. he said repeatedded praised jeremiah write hate speech that is reference to the

controversial chicago preacher followed by president barack obama before he cut ties with wright. warnock says loeffler's attack is distraction. >> if she wants to know what i think, can find me in the scripture, love your neighbor and yourself. for me in practical terms, you don't get rid of health care inn the middle of a pandemic. reporter: big names are coming to georgia. former congressional candidate pete buttigieg is in town campaigning for warnock. back to you. neil: jonathan, thank you very, very much for that. where is all of this going? not just republicans trying to send players there. jonathan told you pete buttigieg but a host of other democrats urging to get-out-the-vote, all but getting a condo in georgia to shepard the process along? ethan berman, liberal commentator radio host. fox news contributor liz peek. ethan with you, democrats would have to get both seats from

republicans to tip the balance of power in the senate. do you think they will? >> oh, wow, well i mean, look, there is a huge push from both sides. these two senate seats are everything about with senate elect biden the republican chance to hold the senate are the two seats. democrat are the making a huge push. i think there is a great opportunity because joe biden won the state of georgia, because of this huge blue wave that really did happen here in the united states. this is a focus and i think there is a real opportunity for the democrats to win both jon ossoff and reverend warnock, i love that attack by kelly loeffler, the non-elected senator in georgia. who is it today? aoc, bernie sanders, ref rend warnock. who is the bogeyman they need to say the most dangerous person in america. i love that. that is desperation. neil: well, i tell you both sides are good at creating the devil in the other guy but, liz,

from a market perspective, i know wall street was kind of holding its own and gaining even on the notion of a divided government where the senate would stay under republican control. i guess thinking being it would be more after road block to some of his more aggressive measures like raising taxes and the like. if these two seats were to go to democrats all bets are off then, right? >> oh, i think that would be very bad for investors because, yes, that would mean not only joe biden's program of higher taxes would go through but a lot of the progressive measures that have been penned up in the house during a time when the republicans have been in control of the senate are still there. look, you can talk about a blue wave. there really was no blue wave. i think rich lowery called it a blue trickle. that is little closer. remember in georgia david perdue is up 90,000 votes over ossoff. and i think when you have

senator schumer telling americans, now we've got, america if we get georgia we'll change america, that really puts democrats in a tight spot. i think it makes these candidates very, it makes it harder for them to argue that they are going to be sort of centrist, left-leaning candidates that most voters, most democrats i think probably want. i think schumer really opened the door for voters in georgia to focus own things like the green new deal and open borders and court packing, all the things that the left is very eager to achieve and cannot possibly achieve with a republican-held senate. neil: yeah. to your point on perdue he might avoid a runoff all together if he tips over 50%. 50% plus won. that would negate that. having said, i would be curious one thing, ethan, help me with this, this list has been put out by those who are pushing

president-elect biden to really up the progressive count in his cabinet. among the names mentioned, elizabeth warren as treasury secretary. whatever your views on her, that would put a republican governor there in charge of selecting a replacement for her. so on that basis alone is that likely not happening? >> that is an interesting question. i mean that is the debate inside of the democratic party right now is, there are many who love senator warren. i think she is brilliant. she was behind the cfb. she would look out for consumers. neil: consumer protection bureau. go ahead. >> thank you. consumer protection bureau and but look, a republican governor, i don't think that should hold back a president-elect biden if elizabeth warren really is the best candidate. i want a president who is going to pick the best people, really in contrast to the last four years. let's get the best there, to

accomplish the agenda that president-elect biden was elected to enact. neil: all right. we'll watch it closely. i apologize for the truncated time here. we are keeping an eye on the bottom of the screen with the dow down about 331 points. no, i don't think it had anything to do with ethan but you don't know. you just don't know. just kidding here. we'll have more after this. we all have our own journey ahead of us. our own hopes and dreams. we'll pass many milestones. moments that define you. and drive you. to achieve even more. so, celebrate every one. because success isn't just about where you want to get to.

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♪ neil: all right. say this about tropical storm eta, not giving up and threatening right now the gulf coast of florida right now. that could be just for starters here. let's get the very, very latest what's happening with charles watson in tampa right now, more to the point. charles? reporter: neil, i can tell you the most dangerous elements of tropical storm eta, the heavy winds and rains have moved out of here but this morning folks had quite the headache on their hands. you can see in the video here as residents in st. petersburg tried to gingerly move their vehicles through flooded streets. a lot of the water on those streets actually went rushing into people's homes overnight, soaking floors, bedrooms, bathrooms. you name it. some folks say they haven't seen

flooding like this in this area in more than 20 years. >> my place is on kind of a hill, so it is like, if it gets on to my porch it is definitely something dangerous. my roommate actually called me and he said the water is getting to the bottom of the last step of our porch. >> we get rain and we get flooding here a little bit with rain or nothing like this, nothing coming into our house. reporter: the storm absolutely lashed florida's west coast. take a look at this cell phone video of the sanibel causeway near fort myers, florida, getting battered before officials closed it to traffic late wednesday. vice president mics pence was expected to vacation in the fort myers area but that vacation was abruptly canceled for unknown reasons. president trump has approved federal disaster funding requested by florida governor

ron desantis so folks can get clean up efforts underway quickly. neil? neil: charles watson, thank you very, very much. storm season does not quit, does it? we have a lot more coming up as hour two begins the dow down 302 points. the concerns are the spikes and virus and a number of states considering reimposing restrictions, longdowns, another thing a key advisor to joe biden might have to be done on a national basis. what did he mean by that? after this. businesses today are looking to tomorrow. adapting. innovating. setting the course. but new ways of working demand a new type of network. one that's more than just fast. you need flexibility- to work from anywhere. and manage from everywhere. advanced technology. with serious security.

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>> remember when everyone said after the election the whole coronavirus issue would just sort of disappear, that no one would be talking about it? republicans and democrats are talking about it. republican governors are dealing with it. democratic governors are dealing with it because right now it appears that it is getting kind of dicey. number of states are reimposing restrictions they thought they would never have to revisit. illinois considering a potential lockdown across the state. grady trimble is in illinois with the latest. what's going on there, grady? reporter: neil, 12,000 new coronavirus cases yesterday. hospitalizations are also on the rise. and now the department of health is putting out a recommendation for people to stay at home. that's not an order, but they are urging people to stay home except for essential activities,

like going to the grocery store and the pharmacy and to work from home, if they can, and of course this is going to impact businesses like where we are. in wisconsin the governor announcing a similar recommendation there and several midwest states are introducing heightened coronavirus restrictions, as cases there rise. here in illinois, the governor has said he is considering another stay at home order which would force businesses to close. that would impact places like retail locations, salons, gyms, even hospitals, they would have to cut back on those elective surgeries, like they did earlier this year. and you know, we're talking to business owners because these are the people affected by these policies. pam bartlett is the owner here. you had to lock down in march and april and may. then you were able to reopen and recoup some of the business, but what would happen if you had to shut down again? >> so we would go right back to 20% or less of our business and that's going to be hard to

maintain. right now we're at about 50. so we're hoping that we do not have to shut down and go back to 20%. >> the difference back then as well, you got ppp money and that helped you stay afloat. you haven't gotten any government assistance recently. >> no, not since then. we got the first round of ppp money, that helped keep us open. we're hoping for another round. >> what would be your message? i know i talked with you about this earlier, but for the people making these decisions saying you are going to have to close your business down, what would you say to them? >> if we have to close our business down, that may mean we may not be able to open back up. we rely on our customers to provide us income and revenue for our business. >> best of luck to you, pam. a lot of businesses are going through this. they know they have to keep them safe and their customers safe and know cases are alive but fearful of their livelihood and the livelihood of their employees if they are forced to

close again. neil? neil: thank you very much, grady. it is not only those businesses that are concerned, so too chairman of the federal reserve who has noted that this is not going away and the problems for the economy are real. edward lawrence has more. hey, edward. reporter: hey, neil. to grady's point here, the federal reserve chairman says the economy will not fully recover until customers feel fully confident the coronavirus is behind us. he also says the worst-case scenario for the economy did not materialize because of fiscal and monetary help. now he made these comments while talking with european central bankers. he also added another round of fiscal stimulus is needed. >> the path forward is going to be challenging for a number of reasons, and i am sure we will get into some of them. my sense is that we will need to do more and congress may need to do more as well on fiscal policy. the actuals are up to congress and not up to us, but i think it is likely that more will need to be done in time, but i would say

that our response to date has really been quite strong. >> and last week powell said any fiscal stimulus needs to be targeted to help those affected by the shutdown as well as those industries decimated by the lockdowns. seemingly frustrated house speaker pelosi backtracking though on progress over the talks again saying the senate now should pass the 3.4 trillion dollars heroes act. she was flanked today by senate minority leader schumer. >> and the heroes act should be the starting point, not an emaciated bill that prioritizes protections for corporations and considers the needs of american families as an afterthought. >> we need to help our state and local government. they say from time to time that they want to do that, but we haven't seen that evidence. >> those payments, the biggest hurdle here, the senate majority leader mcconnell is taking the lead on these negotiations now,

according to a source familiar with the talks. he said he's willing to go for a more targeted plan, something like the 500 billion dollars plan that he put up last month. so neil, it seems not only are these talks not going anywhere, they are kind of going backwards. back to you. neil: all right, edward lawrence, thank you very much for that. if we are revisiting the potential for lockdowns or even rolling lockdowns as we're experiences in places like ireland and germany and italy and portugal and spain and france and you have heard all of them, what are in for? deutsche bank put out an idea over at germany that maybe there should be a 5% work at home tax for the pleasure of those working at home. those working at home weren't too keen on the idea. but that would be on top of the taxes they are already paying, and if it comes here, we are already paying. deutsche bank apparently crunches the numbers meaning they could upwards of 48 billion dollars a year in remove for which governments could do a variety of things.

for instance, optimal capital director of strategy, rose clip founder, managing partner joining us. what do you think of this proposal, francis? >> well, you know, we have historic fiscal deficits, and it is not going to get any better. the virus is going to stick around. it is going to cost us money and we need fiscal stimulus. however this sort of punishes the people that are working from home. you know, i think that's a little bit of unfair because these people did make it go right to work from home which is not easy. people think it is a luxury. it is not a luxury when you have kids and jack russell terriers and lighting issues and different issues. they made it go right so they didn't have to collect unemployment, and so, you know, to then punish them after the fact, after they have relocated, changed houses in many respects, it is really tough. also some of the tech companies saying they are going to pay salaries commensurate to where someone is living. if you are living idaho and working in silicon valley, you

will get a hit there. by the time they get chipped away with taxes or these things, they are going to hurt the consumer because these are the guys that are employed and these are the guys that are keeping the economy going. neil: you know, mike, it does make you think that this could be a smart strategy for big city mayors, big state governors, worried about all of this, you know, working from home, you know, that, you know, people could decide, look, i don't need to go in, i could do it from home, where i'm housed. it could have far-reaching consequences here, don't you think? >> absolutely. and neil, i think you might be giving -- speaking from new york you might be giving too much credit to our mayor and governor. neil: probably, probably. >> when you talk about increasing taxes on working people, i think that's just a nonstarter. you know, if you are going to make it 5%, why not make it 10?

let's go to 20 while we're at it. we'll give the governor and the mayor and the people running these the local districts, give them more money to do what? i don't know. i don't know what's happening with it. it's a terrible idea. it's a nonstarter. and i think what's happening is we come out of this pandemic, businesses have had to reinvent themselves. people have had to reinvent their jobs. we're talking on a zoom right now, you and i, instead of sitting across from each other. people are changing the way their lives -- they've led their lives. they are changing the way they have earned a living and to put an extra tax on them for the sake of putting a tax on them is just stupid. i think we need to get the country open as quickly as possible. we need cities, states open as quickly as possible. yes, cases are up. but we need people to be able to go in and work and to start hitting people with new excess taxes i think makes no sense at

all. neil: i am getting a sense, though, from this, you know, who is advising joe biden that they might entertain if he were to come into office in january 20th which looks fairly inevitable that they would revisit something on a more national lockdown type basis. what did you make of just that, francis? >> well, the thing is, you have to weigh all the costs of a lockdown. you have to weigh the economic costs. you have to weigh the psychological costs, the opioid abuse, the things that have occurred as a result of the lockdown and then weigh that against the covid cases and the deaths there and weigh that against, you know, having covid maybe stick around versus eradicating it. statistically it is very difficult to do. we will only know if we've made the right decision in hindsight, but the longer this economy is at a stand still and the longer it is till we can agree on new fiscal stimulus and if the cares act expires december 31st, and you have all the moratoriums on evictions expiring, you are going to have so many people that are in so much pain, so i

think if we were going to go on a lockdown again, we would have to consider that very seriously, and of course we will get the benefit of seeing what happened with europe for a second lockdown. neil: mike, real quickly, clearly the markets are worried about this. i can't think of other issues that would be weighing on them. but the fact that the cases are spiking has them worrying about more aggressive government actions to rein them in; right? i mean, that's something markets typically don't like; right? >> correct, neil. i think really the market doesn't want the government involved more, but the market loves when it saw the pfizer vaccine announcement. the market can look past where we are currently and it will look past day-to-day numbers of increased cases and it will look to a time when we have had a vaccine. we have already seen the works of it behind us back in march and april. the market is looking forward, looking at earnings and looking at a country that's reopened again. that's why we're right at all-time highs and we're going hire. neil: mike, final word.

francis, i want to thank you both very much. stay well, healthy. much appreciated here. now to the new york post columnist extraordinaire, you know, in new york as you know, carol, they want to have still a thanksgiving day parade. it will be a little different, and they are even advising that don't bring too many members to that thanksgiving gathering. other states talking about try to hold it outside, maybe fine if you are in southern california, not so fine if you're in the new york metropolitan area. having said that, how do you think all of this is going to go down? >> you know, i don't know what's going to happen, if we're going to have people knocking on our doors and trying to count how many people are in the household, but i would really love to see how many people the politicians are celebrating with. i have a feeling they won't keep to that 10. the rules don't apply to them, and i don't think they even consider these rules should apply to them. governor cuomo is famously just rarely wears a mask even though he is constantly saying mask up.

the thanksgiving rules, his daughters, the boyfriend, his staff that he's often seen maskless with, i would like to see how they are handling the thanksgiving that they are saying that we should have. neil: yeah, that boyfriend issue where i guess, you know, his daughter was very close to this guy and the governor moved him somewhere, but i've had those temptations myself as a dad so i won't judge that. let me ask you a little bit about -- i'm kidding -- where you see this whole thing going because the cases reigniting have got a lot of governors and mayors getting a lot more aggressive. we understand that new jersey governor phil murphy is going to up the number of updates he's giving per day to three. he's already telegraphing, you know, closing bars, restaurants earlier, really cracking down on this. more or less threatening if you don't go a long, it could get worse. so -- >> yeah. neil: this sounds like big government coming back here. >> right, well, you know, i keep

saying it's not -- we're not in march anymore. i would love to see some scientific basis for any of these moves. when we closed everything in march, we continued to have extremely high cases, many many deaths, and yet, everything was closed. so i really feel like i would love to see some more science from our political leaders and to have them actually use science to make decisions. when they closed restaurants, for example, the indoor dining, show me some evidence that indoor dining contributes to spike in cases, when they close schools, that should be the very last thing they close. i don't see them using any science or, you know, giving us any kind of indication of how we should be safe. i think you can have thanksgiving with your family. i think you can get tested in advance. you can quarantine or be tighter with your social circle in advance of that. that's what we are planning to do in our family. i think seeing your family is important. governor cuomo is going to see

his family so see yours. neil: yeah, well, it depends on if you like your family, carol. you are a very likable person. i'm sure people like being around you. it depends on the relatives. >> absolutely. neil: it is something to be used as an excuse. >> don't use it as an excuse to not see your in laws. neil: exactly. not that there's anything wrong with that. have a happy thanksgiving if we don't again before then, carol. >> thank you. neil: whatever it has to do with the spikes it is weighing on the market now, dow down about 383 points, briefly crossed the 400 level. looking at the sectors that are being impacted but obviously just the thought that they are spiking and just the thought that governors mayors and maybe the next president of the united states could start reimposing things, even on a national level, that's enough to agitate these guys. after this. ♪ for over 30 years,

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neil: take a look at wall street right now, in and out of session lows. a lot of concern about a spike in coronavirus cases, not so much the legal back and forth on the presidential campaign. we'll update you on that. in the meantime, say what you will of the cam pain and everything else -- campaign and everything else, it's been a boon to a couple of news

networks cnn and msnbc seeing ratings soaring right now. that's a good backdrop if you are cnn and you could be the subject of a sale. we have been exploring that. we have more on that front. what's going on, buddy? >> thanks, neil. for the past week we have been talking about how wall street bankers, media bankers are out there talking about a potential sale of cnn by at&t its new parent company. the reason is pretty simple, it can get a premium, about 10 billion dollars, at&t needs the money. they have a massive debt load and plus let's face it, it doesn't fit very neatly within the at&t business model right now, where it has content but most of that content is entertainment driven like hbo, cnn and news operations totally different. it stick out like a sore thumb. people are talking about it. cnn staffers are worried about it, i can tell you that i've been getting tons of e-mails from them on this situation.

here's what we know as of yesterday. the at&t brass are now trying to calm cnn staffers fear of an immediate sale. yesterday warner media ceo, warner media is the content division of at&t, as part of that time warner merger, so cnn falls under that, he told employees a t a town hall that cnn is just getting started. he tried to essentially -- he put cold water on any notion of an immediate sale. he thinks cnn has tremendous growth over the next ten years. at least that's according to a transcript of his remarks that i received. interestingly enough, this has not i guess ended the speculation that cnn could be taken out of at&t. i can tell you that bankers, including the elliot management which is an activist investor, they're continuing to talk about

this because let's face it, if you look at all the properties that at&t has on the time warner side, cnn is probably the one property they can get a premium for and they can probably get 10 billion dollars. as you know, they are looking to sell their directv, satellite distribution unit. they're trying to transform themselves into a wireless 5g company and an entertainment provider of content. cnn doesn't quite fit there, and plus, let's face it, there is a cultural issue with the guys at cnn, left of center, with the guys in dallas, who run at&t, very conservative. we should also point out, neil, that zucker's future from what i understand from people close to him is very much up in the air. 50/50 whether he's going to stay, and it's -- i guess it's -- from what i understand,

it's not his choice. it's at&t's choice, and they still haven't signalled one way or the other strongly whether they want to keep the long-time president of the network around. neil, back to you. neil: all right, thank you very much for that, charlie gasparino. still following the sell-off here. again, most of this really coronavirus related here. but again, we're looking at the uncertainty around these recounts that are going on, press counts and hand counts, and the fears here that the president will keep this going. he certainly is within his right to do so, but a lot of the prominent politicians on both sides of the aisle are wondering if and when and how this is eventually settled. after this. ♪ (harold) twelve hundred strings of lights.

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lawyer, especially a lawyer looking into recounts and close voting in a couple of battleground states. we are on the fallout on capitol hill. hey, chad. reporter: hey there, it is also important to be a parliamentarian in understanding the process because congress has the ultimate say in sorting all this out. they certify the electoral college on the 6th of january, in a joint session of congress. this is where the house and senate come together. now, here is the process, let me walk you through this, two things govern the certification of the electoral college, the 12th amendment and the electoral count act of 1887. vice president pence in his capacity as president of the senate presides members may contest a slate of electors from any state but it requires a challenge from both a house and senate member. >> the statute that controls this is a little bit convoluted. it is also not clear how congress would react when it was actually confronted with both slates of electors. >> there was an effort to dispute florida's electoral votes in 2001, following the

race between president george w. bush and vice president al gore, but the challenge fell short. in 2005 the house and senate did debate ohio's electoral votes. >> whichever slate was signed by the governor's signature, that one gets counted. if the chambers of congress can't agree between themselves on any other slate. >> now both the house and senate have to vote to reject a state's slate of electoral votes. neil? neil: all right, chad, thank you very much. more of this going on right now in philadelphia. eric shawn has been following this push to count every vote obviously, but it's taking a while, and there are some controversies that pop up in the process. eric, what's the latest? >> yeah, hello, neil. i talked with the top republican election official here in philadelphia, and he is pushing back against the president's claims about voter fraud. he says they are wrong and off base.

i asked philadelphia g.o.p. city commissioner al schmidt if illegal votes are really being counted here and if the democrats are trying to still the election. >> no, the only votes being counted by the board of elections at the pennsylvania convention center are votes cast by eligible voters on or before election day. >> the president says there's quote a mountain of corruption and dishonesty here. is that true? >> no, it is not true. >> the president says observers were not allowed in the counting rooms. is that true? >> that's totally untrue. eric: the president says, quote, bad things happen that our observers were not allowed to see. is that true? >> absolutely not. we have seen observers from the democratic party and the republican party, from the trump campaign, and from the biden campaign, more than we have seen our own families, i assure you over the last couple of weeks. eric: the critics say the observers can't really see anything because the place is so big. what would you say about that? i mean it is like a football field length and some have

binoculars. >> it is a big operation inside, and we have arranged it in a way that observers have access to see what's going on. parts of the official -- the parts that the observers are permitted to really, you know, keep an eye on and all the rest. we have it set up completely in accordance with the law and a federal judge agreed with us on that. eric: the president targeted you in a tweet. how does it feel to have your personal integrity attacked by a fellow republican who is the president of the united states? >> it's just not -- something at a time to focus on. we have a lot of work to do. the clock is ticking on certification. and if i spent all day consumed with, you know, tweets, we wouldn't be able to get the job done. eric: mr. schmidt also fears that the misleading information and outright lies about voter fraud will lead to americans to have a shaken faith in the democratic process and the

electoral system, but he does say that they can absolutely have complete confidence when the results are finally certified here in pennsylvania, in 11 days. neil? neil: what if they are not satisfied to the president or trump campaign's liking? if in the end after all it is, the count is what it was and what it is? >> yeah, that's exactly what will happen, he says, in 11 days. it is what it is. he says the facts here are correct and that the claims of wrongdoing by election officials who have been working so hard 24/7 here are absolutely false. neil: all right, eric shawn, very good reporting as always, my friend. eric shawn on all of that. francesca chambers with us right now, the white house correspondent, obviously the president, the campaign is entitled to this count. hilary clinton folks got it back four years ago. we've seen this happen virtually

in every election. this one the nail-biter at least in the electoral vote in some of these states that are so close, this could tip the balance, but most people don't think that's going to happen. is it your sense right now, given the fact that increasing number of republicans are expressing their concern about this, and even -- [inaudible] this is delaying joe biden getting intelligence briefings and the like, that the tide could be turning as far as angst about this among republicans? >> well, republicans who are closest to the president in his inner circle have been pretty consistent for days in advising him not to concede this election, while there are those, not just in the republican party establishment, but other people who are close to the president who are telling him that he should move on from this. and of course there are two outstanding elections that are in georgia, neil, that republicans are starting to turn their focus to, democrats as

well, and the president not conceding the race is sort of complicating those efforts in some ways, in terms of their messaging because it makes it harder for republicans at least to be able to say that these two senate seats will be a check on a joe biden administration, which republicans see as their strongest argument. neil: but francesca, and maybe for perfectly valid reasons, but by going after republican secretary of state in georgia or a pollster or a registrar, you know, in las vegas, or what's happening now in philadelphia, does that risk particularly in a state like fwa georgia hurting the united republican front to get these two republican senators re-elected in -- re-elected? >> the two republican senators are united in saying what they are saying to the republican secretary of state as far as that goes. neil: they want him to resign. they are angry at him. they want that republican secretary of state to resign. >> that's right. within the state, senator kelly

loeffler, faces a difficulty in needing to coalesce the republican party. democrats and republicans often compete against each other. for her in particular it was sitting congressman collins who she had to compete with in that primary. she beat him, but they split the vote more or less as republicans so she needs to coalesce all of those republicans in order to be able to beat the democrat in that january 5th runoff race. she in particular needs to energize that donald trump base and get them to turn out for her in that election and that's part of what you are seeing here, neil, is an attempt by republicans in the state when donald trump will not be on the ballot again to push up that energy and get his supporters to come out again. neil: covering the president, i know we got a chance to meet for the first time yesterday at the veterans day event at the tomb of the unknown soldier, but

rarely before -- rarely so far since, i'm wondering is his public schedule going to change so that we will be seeing him more often? what are you hearing? >> it's my understanding that we will not see him neil for the rest of this week in public. -- [inaudible]. that's my understanding. neil: what is the mood in the white house? i know that's a cliche question right now. but obviously it's got to be a little tense here. it is perfectly within their right to have the counts. are they getting worried? concerned for the president? how would you describe it? >> there's also a split neil between the folks who are the senior staff level and the people who are not, the people who are affected by this will need to be getting jobs soon, after donald trump leaves office, and so those people, there's a sense of -- they don't want to be seen as disloyal, but at the same time, need to start looking for future opportunities, whereas folks who have been in the republican party are pretty established for

a long time you know don't have that same pressure on them. neil: so this notion that, you know, the president is going to be doing this and be uncooperative, not recognize joe biden and not be gracious if it comes to that, do you buy that, or do the people you have talked to buy that? or will he if this effort fails graciously, you know, step aside, congratulate joe biden, be there for the inauguration, take the car ride from the white house to the inauguration, all that? will he do that? >> what i'm hearing is that he's really unlikely to ever get up and say i lost this election. if anything he would say is that he got beat, that it was stolen from him and that's what happened to him. he's unlikely to get up and say that i lost this election, that's number one. at the same time, people are telling me that he's not going to not leave office and that he will leave, and the people who are close to him who want to see him fight these legal battles are advising him to exhaust all

legal options, but they are not specifically advising him not to leave if the electoral college on december 14th decide this election in favor of joe biden. neil: we will watch what happens. anything can happen. thank you for that. >> thank you. neil: there are a lot of people who look at this and say we have never seen anything like this. actually we have quite a number of times when we look back, remember herbert hoover in that famous car drive he had leaving the white house with fdr. the two of them never talked, didn't say one word in that drive. it was shall we say chilly, but then again, herbert hoover was at fdr's inauguration, sitting up there, chilly. more to come. ♪

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neil: there are earnings and then there are disney earnings one of the more closely scrutinized companies which is a

reflection on the entertainment universe, what's going on, let's say, in, you know, as casual leisure stocks go, what's happening on the traveling front in general. that's going to get very very scrutiny a good deal of attention i should say. ashley webster with maybe a preview of what we could be looking at. hey, ashley. ashley: hey, neil, even walt disney himself couldn't have imagined a more challenging year than 2020, nor would he want to. disney has faced of course delayed content production, production has been postponed or cancelled, closed movie theaters below capacity theme parks, closed theme parks, no cruises, slashed budgets from advertisers, that is 2020. even disney plus which will probably be the star of this latest earnings report will probably have added millions more subscribers, but, you know, are they likely to be profitable yet? probably not. after the bell, analysts expect the company to report an adjusted loss for shares, 71

cents, the first time that has happened in at least four years. revenue also expected to fall by as much as 25% year over year to right around 14.2 billion. all eyes will be on disney's experiences and product segment, that's a key metric including the theme parks, cruise lines, resorts, all those merchandise sales, they've been hit hardest by the pandemic, and they expect to have the biggest drawdown again on revenue. by the way, this division in the last quarter lost 3 1/2 billion dollars, and we've just found out of course that disneyland paris has been forced to close for a second time. i mentioned disney plus. it is expected to be a bright spot. the entertainment bundles that include espn and hulu they are predicted to have done well, subscribers already exceeded 60 million in the last quarter, but investors will ask a lot of questions, wanting to know when

will disneyland and california parks be reopened? what about those theatrical releases? will they go straight to disney plus like the live action "mulan" did for about 30 bucks per subscriber? will the company have to cut more costs? they announced another round of furloughs at disneyland on top of the 28,000 employees that were laid off in september. it has been that kind of year for disney. all will be revealed, neil, after the bell, so make sure to join fox business for that, shortly after 4:00 p.m. eastern, we will get a look at how disney is faring. it was terrible in the third quarter, maybe maybe a little few bright spots in the latest earnings report, but there's no doubt it's been a struggle. neil: yeah, i remember also their guidance in the last quarter where they talked about we don't see a clear horizon on the pandemic. if they say that again, oh, man oh man it could be problematic to put it mildly. ashley, great job, thank you as always my friend. ashley webster following those disney earnings after the bell

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neil: this was the last news restaurant needed to hear in new york metropolitan area,

indications from governor cuomo curfews trying to limit the spikes in cases that the area has been seeing. the oddity here whatever spikes we see are not coming from the restaurants. they seem to be increasingly an easy target as they are in new jersey and connecticut, illinois, some of these other states that are responding with new restrictions of their own, similar to what's going on in new york. a big catering food concern. it makes it tough. you have a living to make young man. this has got to hurt; right? >> this is killing us, neil. i mean it is a matter of time. it is like another nail in the coffin of an already dying business. we were doing great so many years and all of a sudden this pandemic took us right down. i understand the governor's point, safety first. we want everybody to be healthy, that's the most important, but this curfew and limiting the amount of people, i mean, my staff, we were close to seven months at one of my places and it is difficult to sustain that

and come back and reopen and get to the new norm and just to be closed at 10:00 at night, i don't see the reasoning of this, but we will follow it of course. neil: what was it before? now you have this 10:00 p.m. curfew; right? but you have to shut down, it is not a matter of just limiting alcohol after that. you have to shut down period. >> yeah, i mean, what it means to me at 10:00, my staff has to leaving the building so i can't really sit anybody after 8:00 because it gives them two hours hour and a half to eat if everything is at a good pace. it will turn people away and make people more aggravated about the whole situation. we're going to lose a full turn on the tables. we count on turning tables two to three times a day. we're going to lose that last turn now. staff members are going to lose a lot of their -- neil: i'm sorry, but how does the catering business hold up? that's where you really shine. obviously the restaurant is one thing, but that's one thing i wouldn't call it pandemic proof,

but pandemic resistant. i mean, how has that been going? >> well, it's actually worse because now we're limited to just 50 people in a gathering. we can only do one party of 50 per time even though we have multiple rooms. not allowed to stand up and eat. you can't walk up to the bar. there's no dancing. if you stand up, you have to wear a max. -- mask. if you go to a wedding, you sit there and leave. you can't do more than that. people have been severely limited. they were okay with it. now i have to call people up that are having weddings this weekend, i have to say listen i'm sorry, your wedding has to leave by 9:45 p.m. people are numb with this. it is what it is, and we have to go forward. it is terrible. neil: i wonder if these spikes keep happening because some of these actions being taken were being taken by countries like

germany and italy and france that were very aggressive, in fact remarkably aggressive, in not only the mask thing but shutting down, having rolli ini lockdowns and all that. they were doing everything right presumably what we weren't doing which is not a fair rap. they are looking at high cases. it goes back to restaurants, social meeting places, to bars, even though they have not been responsible for the spikes or where those spikes have occurred. >> we have been picked on. every day we have a different inspector come down and we have another question. we are trying our best to comply with everything there is. i don't see how the restaurant can change the outlook of the whole covid virus. and by shutting it down isn't going to do anything more than put more people out of work, make our bottom line go away and

possibly put the majority of restaurants out of business that were already struggling before the pandemic. half of them can't be evicted because there's a limit on that, so they are sitting there waiting for either somebody to shut them down because they broke the law or when they get courts reopened, they will hear cases and they will get evicted, and they are done. there's no future for us. it is bad, very bad. neil: hang in there. you do good work and good food. all your colleagues are trying to do make a decent living, hard to do anything above. he's following the latest orders on the part of governor cuomo to shut down early and don't even think about staying late. more after this.

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sofi helped me pay off $23,000 of credit card debt. and i just couldn't have done it without them. ♪. neil: all right, jerome powell, the federal reserve chairman, who is going to be a very, very important person as well will the federal reserve itself in change of switch to administrations, talking about virus, talking about lockdown fears. talking about a lot of stuff. edward lawrence following all of that. joins us from washington. what are you hearing? reporter: there is very interesting argument. he said there is fundamental shift. we're recovering it in a different fundamental little because of the technology we're using. fed chairman says the technology makes us more productive in the long run but getting over this hurdle we're in, this short-term hurdle is an issue. a significant amount of workers specifically in the service

industry will need a lot of support after the virus vaccine comes, after the virus is bonn, after the economy is reopens to get over the gap because their job may not be there after this. they may need to learn how to use technology or in a sector that involves new technology developed during the coronavirus and become more prolific as the coronavirus shut down has continued. neil? neil: edward, has he expressed concern about the stimulus thing that just went nowhere before the election? has he spoken out more on that? i know he was concerned we should have it, the bigger the better which startled a lot of folks but did address that at all? reporter: he tried to stay a little innocuous other than saying we need another fiscal stimulus to go along with monetary policy stimulus the fed is already doing and could do in the future. they do need a boost here. they need help. inflation is still low, 1.% is

what it came in core. pci came in 1.6% last month so you're still seeing inflation undershooting the fed's target here and the federal reserve from a lot of outsiders i talked with, economists, the fed needs help from the fiscal stimulus side not just to help the economy during the pandemic but boost inflation number back up towards their 2% goal. they can't do it by themselves. neil: i'm discuss throwing this at you without any preparation, you're so good at this stuff, obviously he had a acrimonious with donald trump. it got a little better how he handled the whole pandemic. i'm curious, president biden, when it comes to that would reappoint him to head the federal reserve? reporter: chairman powell is down the line seemed more relaxed he laughed off a question about the political situation, about the economy. he said he is just not going to talk about that lane. remains to be seen.

he has been really down the middle, says exactly what he thinks there is a possibility he could stay on. neil: we'll see. i will hold to you that. we'll look at it. ed lawrence. thank you very much, my friend. i want to go to charles payne looking at all this, other developments, spikes in cases so much more. hey, charles. charles: neil, thank you very much. good afternoon, everyone, i'm charles payne. this is "making money." breaking right now stokes mostly lower after a early redown that faded pretty quickly. orderly downside pressure picked up speed after the tech and communications services turned red. meanwhile investors wait for an upside catalyst. maybe a spark could come from exodus from bonds into stocks. history says it could happen and happen very soon. what is with the huge rally in commodities? they have been hot, especially industrial metals which could bode well for the global economy. we'll ask investing legend dennis gartman for his take, how we can benef