Dow Jones Industrial Average closes above 30,000 mark for first time

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Dow Jones Industrial Average closes above 30,000 mark for first time

Neil Cavuto and FBN correspondent Susan Li react to a milestone day on Wall Street on 'Your World'

This is a rush transcript from “Your World with Neil Cavuto” November 24, 2020. This copy may not be in its final form and may be updated.

NEIL CAVUTO, FOX NEWS ANCHOR:  Dow 30000, we hit it and we stayed over it.

And food for thought. No play on words there, after two, by the way, very
thin anchors talking about food. That's a whole 'nother issue. But this is
a record issue. We have never seen the Dow 30 so high, other market
averages sprinting at or near records themselves, and all of it based on
growing optimism that there are not only a number of promising vaccine
candidates out there, but that there is going to be an orderly transfer of
power.

And so it looks like everything is coming up roses, or at least some
winning stocks.

Welcome, everybody. I'm Neil Cavuto. And this is your record world today,
to read that number and leap. We have never been in this territory before.
And a lot of people are saying, with every hint of a vaccine and every hint
of something promising down the road and the prospect that, because of
those vaccines, we might be able to get out of this whole virus funk, and
return from a world free of restrictions and limitations and lockdowns and
shutdowns.

That's not happening right now, but, again, the market is a forward-looking
indicator, isn't it?

To Susan Li at FOX Business on what it is looking forward to.

Hey, Susan.

SUSAN LI, FOX NEWS CORRESPONDENT:  Hey, Neil.

First time ever crossing 30000. The Dow Jones industrials took almost the
entire year to get there, after reaching 29000 at the start of January. The
next 1,000 points were pretty hard to come by. And we only got here after a
blowout month so far, best since 1987, on pace for the best November since
the 1920s.

Here's President Trump on the historical breakthrough.

(BEGIN VIDEO CLIP)

DONALD TRUMP, PRESIDENT OF THE UNITED STATES:  The stock market's just
broken 30000. Never been broken, that number. That's a sacred number,
30,000. Nobody thought they'd ever see it.

(END VIDEO CLIP)

LI:  Vaccines, more stimulus on a possible Janet Yellen nomination and
signs of a White House transition has Wall Street optimistic.

And that's propelling stocks that benefit from a reopening and a return to
normal, including travel stocks, like airlines, cruise lines and hotels,
gym operators, banks, which trade depending on where the U.S. economy goes.
Oil stocks are up on a recovery and oil prices, and also underperformers,
like IBM, McDonald's and Visa getting a lift today as well.

And, meantime, as the Dow crosses 30000, Bitcoin crosses $19,000 for the
first time in three years, pushing ever closer to brand-new records. And
the reason for this year's Bitcoin bonanza, adoption, as more companies
like PayPal, Square, Fidelity, and Robinhood allows its users to buy and
sell the cryptocurrency.

And, finally, it's good to be Elon Musk. Tesla's founder is now the world's
second richest, worth $128 billion and counting, overtaking Bill Gates and
right behind Jeff Bezos.

Neil, they say that, after $100 million, it's kind of all the same, isn't
it?

CAVUTO:  Yes. Someone told me that the interest on that alone and his
wealth would be a billion dollars a year, at a minimum, just trying to deal
with the interest.

I'm sure it's a lot more than that.

LI:  Yes.

CAVUTO:  But that -- without ever touching your principal. That's like
Susan Li money.

LI:  Yes, exactly.

CAVUTO:  Or Stuart Varney or something. It's a cross between.

LI:  Or Neil Cavuto.

(LAUGHTER)

CAVUTO:  Oh, wouldn't that be nice?

Susan, thank you. Great job, as always, my friend, Susan Li, following all
of those developments at the corner of Wall and Broad.

Also some political developments that had a way of connecting with the
corner of Wall and Broad and the market itself. And that continues to be
President Joe Biden's picks for his Cabinet. He's already about a third,
close to halfway through the process right now.

Hillary Vaughn following it all very closely, with some big announcements
just today in Wilmington, Delaware.

Hey, Hillary.

HILLARY VAUGHN, FOX NEWS CORRESPONDENT:  Hey, Neil.

Well, today's rollout of all six Cabinet appointees was in many ways an
homage to Obama. All six appointees have at some point served in some
capacity under former President Obama and now are coming back to serve in
revamped roles.

Several of the picks are making history, the first immigrant and Latino in
charge of DHS, the first woman to serve as director of national
intelligence, and even a brand-new Cabinet position for climate.

But national security is evolving too under president-elect Biden. It's
going to cover a lot more than terrorism.

(BEGIN VIDEO CLIP)

JAKE SULLIVAN, U.S. NATIONAL SECURITY ADVISER DESIGNATE:  You have also
tasked us with reimagining our national security for the unprecedented
combination of crises we face at home and abroad, the pandemic, the
economic crisis, the climate crisis, technological disruption.

(END VIDEO CLIP)

VAUGHN:  More Cabinet announcements are on the way, one of those pending,
Treasury secretary.

The Biden team has not announced it yet, but FOX News has learned it is
former Fed Chair Janet Yellen. It's very rare for Wall Street's interests
and progressives' hopes to align, but this seems to be the case with Yellen
as Treasury secretary.

Progressives are cheering the news, saying she is the next best thing to
putting Senator Elizabeth Warren in charge. They see Yellen's past
enforcement action against Wells Fargo and bank stress tests while at the
Fed as a sign she will keep big banks in check.

And markets are reacting positively too. Investors are hopeful that Yellen
will reverse Treasury Secretary Steve Mnuchin's decision to let the Fed's
emergency program expire at the end of the month. She's also expected to be
a strong advocate for fiscal support and is someone who can work with the
Fed to address the $3 trillion looming national debt.

And, Neil, even Senator Elizabeth Warren has praised Yellen as the pick.
She was on the short list for the job, but clearly no sour grapes there --
Neil.

CAVUTO:  All right, thank you very much, Hillary Vaughn.

We will be asking Senator Rand Paul what he thinks of some of these picks
in just a moment here.

I want to get the market reaction with Charlie Gasparino, Heather
Zumarraga.

Heather, particularly on the Janet Yellen pick for Treasury, not formal
today, but it was one of the reasons the Dow advanced, in that she would,
at the very least, keep stimulus going. She's a big fan of that dating back
to her days with Bill Clinton as an economic adviser and as a Fed chairman
herself.

So I'm wondering if that played into part of the market's rally that you
have got, not -- I think everyone loves spending now these days.

(LAUGHTER)

CAVUTO:  So, that that fuels this argument we're going to see a lot of it.
What do you think?

HEATHER ZUMARRAGA, FINANCIAL ANALYST:  Absolutely. We're all addicted to
this monetary morphine, right?

That was a big theme after the 2008 financial recession, as we were coming
out of it. If you remember, Janet Yellen was actually confirmed with 14
Republican votes as well.

CAVUTO:  That's right.

ZUMARRAGA:  So, not just Democrats. There's bipartisan support.

So this is not a far left progressive, like Elizabeth Warren, which
Republicans had feared. And, yes, she's going to keep rates lower for
longer. I think that bodes very well for the stock market, as evident over
-- today, over 30000 on the Dow.

But the difference is, as Fed chair, that is a nonpolitical job. Right now,
you're Treasury secretary. That is a political position. But I do think
it's the best hope that Republicans could have as Treasury secretary
nominee.

CAVUTO:  Charlie, when you look at this number, with a 30000-plus Dow, and
you think of where we were back in March, when we dipped under 19000, I can
remember there were articles being written we're going to 10000, we're
melting, we're melting, we're melting.

And look at where we are now. It is a remarkable comeback.

CHARLIE GASPARINO, FOX NEWS SENIOR CORRESPONDENT:  It is.

We should point out that Fed chairman appointments are very political.
Janet Yellen was a very political Fed chairman, not in demeanor, But what
she did. She was -- you know, she had the money machine printing all the
time. She was constantly talking about the wealth gap, even though a lot of
her policies, keeping interest rates at zero, not pushing back against
Obama's tax increases, increased the wealth gap at the time.

In terms of the market right now, Neil, this is when I'm talking to
investors. They're putting -- they're basically pointing to Donald Trump
and not Janet Yellen. Janet Yellen is icing on the cake right now, because
it's essentially a relief -- part of the relief rally, so to speak, is that
we didn't get Warren. We got someone that's reasonable, not some left-wing
lunatic.

But the reality of the markets is this. The economy is a lot better because
of the stimulus that Donald Trump pumped into it. The vaccine is coming
around the corner because of Operation Warp Speed, which you got to give
him credit for that. And Joe Biden is going to be walking into divided
government, which is going to put a cap on the tax increases.

Therefore, what do you got left? Well, you got Janet Yellen screaming at
Jerome Powell to keep interest rates low, which she will do. That's all net
positive for stocks.

CAVUTO:  And that was evident today.

Guys, thank you both very, very much on that.

We have a lot more coming up, Rand Paul's read of these very quick
developments here, and optimism over vaccines. That, you have heard, that
they're coming, they're coming.

What if I told you one is already here, and out, and now?

(COMMERCIAL BREAK)

CAVUTO:  All right, Joe Biden announcing a good many, a third, up to a half
of his Cabinet picks right now. We're told more are coming in the next few
days. So, he's moving at a pretty quick rate here.

Of course, it has to pass muster in a Republican Senate, for now, right?
That run-off election could decide a lot of things in Georgia. Marco Rubio
says he has his doubts about a few of those. I wonder if his colleague Rand
Paul feels the same way.

The Kentucky Republican with us right now.

Senator, what do you think of some of these picks? Would they pass muster
with you?

SEN. RAND PAUL (R-KY):  You know, we have had a Democrat at the helm at the
Treasury for four years anyway. So, I'm not sure that will make much
difference.

You know, if the standard is whether or not you spend money like a drunken
sailor, we have been doing that anyway. So, I'm not sure that Yellen could
be much worse.

But I would say that, with regard to foreign policy...

(CROSSTALK)

CAVUTO:  You're not a fan of Steve Mnuchin? You're not a fan of his
leadership of the Treasury?

PAUL:  I see him as trying to shovel money out the door and just give away
free money to people. And that's not a conservative notion. That's a
Democrat notion.

And I think he is a Democrat.

CAVUTO:  Apparently, he did it with the blessing of the president, right?
He wouldn't do anything the president want, did he?

PAUL:  That's directed specifically towards him and his negotiations with
Pelosi.

But I would say that, on foreign policy, I am very worried about that there
will be a big shift, and it's back to those who believe that we should
militarily intervene abroad in a big way.

You have neoconservatives on the right who wants to intervene for
geopolitical reasons, but then you have liberals, like Blinken and Samantha
Power and others, who want to intervene for humanitarian reasons. But,
nevertheless, they want to send our armies and our young men and women
around the world.

And I think Blinken is a bad choice. I'm going to ask him if he's going to
apologize for his support of the Iraq War and what lessons he learned from
it, whether he still believes regime change in the Middle East is a good
idea, which it was not a good idea. It was not a good idea in Libya either
or in Syria.

And I don't think Biden or Blinken have really fully understood that. And I
actually do think President Trump really did get that, that regime change
in the Middle East hasn't made us stronger.

CAVUTO:  Senator, John Kerry is going to be like a climate change czar or
envoy. I don't know how you describe it, but it comes with Cabinet-level
status.

And I'm just wondering, does it also come with it approval in the United
States Senate?

PAUL:  You know, I'm not really in favor of czars or aristocracy. So I hope
we don't call it czar. I think they were calling him envoy in the paper
today.

I think it's worth having a discussion about climate change.

CAVUTO:  But does that need Senate approval? Do you know if it needs Senate
approval, because -- I'm showing my ignorance here. I don't know if it
does.

PAUL:  I know the Constitution doesn't refer to czar, so I don't know.

On some of the envoys, they do have to be approved, and some don't. So, I
think a lot of the special envoys don't have to be approved. Like, when you
send them to certain nations, they're not approved. So, I'm not sure if it
will be or won't be.

But the main thing is, we shouldn't have anybody directing policy, creating
policy or creating rules we have to live by who's not been elected or
approved by the Senate. So, really, most things that are -- involve the
legislation or legislative ideas that are being put forward, they really
need to be legislation, and not done by individuals.

CAVUTO:  Senator, as you know, the GSA has given the go-ahead here to get
the transition process going. That probably could not have happened without
Donald Trump's blessing, which seems to be greasing the skids for Joe Biden
and a Biden presidency beginning on January 20.

You had said that the vast majority of voting, though, must still be done
in person to mitigate the potential for fraud in the future.

So, are you saying here that the issues the president raised were
legitimate and they did tip the election in Joe Biden's favor, and that the
president was robbed of victory because of it?

PAUL:  I think, if we put our heads in the sand and say, oh, no big deal,
this was like any other election, we're not being honest and we're not
being good at poring over the details to get to the truth.

In every election we have ever held in this country, really, literally
every election, 99 percent of the votes or more have been cast in person.
They're pretty easy to verify that the person showing up is voting. You
have a Republican and Democrat sitting at the desk. No one can sort of
stuff the ballot, or it's much more difficult to do.

When they're written and sent in, there is much more potential for fraud.
I'm concerned about what Professor Williams has looked -- Professor Miller
for Williams College has looked at, where they did a random sampling of
2,600 Republicans. And what they found is that a significant percentage of
them said they did not request a ballot, and yet somebody counted a vote
for them.

And another significant percentage said they did request a vote, they did
vote, but their vote was counted for someone else. So, I think there is a -
- something that has to be looked at, because, if you extrapolate his
numbers, he says as much as 100,000 ballots could have been counted
incorrectly either through fraud or error.

And that ought to be looked at. We had millions of ballots. We have never
had millions of absentee ballots. And it is a mistake just to slough over
this. I don't know what the conclusion would be. But I think people who say
there's no evidence there are being biased, in the sense that they don't
want to look to see if there is evidence there.

CAVUTO:  So, some of your colleagues who were pressing, including Chris
Christie and others, who have been saying, it's time to move on, Mr.
President, are you in their camp?

Or do you think he should still fight this?

PAUL:  I'm in the camp, if we push this under the rug, we will never know
about this election, but we also will in the future have elections just
like this, where the lack of legitimacy will trouble half of the country or
more.

I'm worried about the election January 5 in Georgia. I think that you have
to -- see, now they're saying we can't even check out absentee votes
because they throw away all the envelopes. I think they're saying that in
Pennsylvania and Michigan.

So, they have separated evidence of whether the vote is valid by throwing
away the contents. If it doesn't have a postmark on it, how did it get
there? That would make you question that it came from somebody's lockbox or
somebody's storage unit.

But if there's no postmark or signature, the signature is apparently on
another document. So, if we can't check all of those things, how can we
check for the validity of things?

It's why we need to have in person voting. You can have early voting, but
it needs to be in person. Look, when I voted here in Bowling Green, we had
a big, huge gymnasium. I was in there for three minutes. Everybody in the
country is going into someplace for three minutes or more.

There is no risk to doing it in person. I fear that we're transforming the
election to something that will be very hard to police for fraud, both this
time and in the future.

CAVUTO:  Real quickly, Senator, I had the pleasure to talk to you and your
wife last week. We were talking about the initial attack on you guys
leaving the White House last week.

And it was on the heels of an attack on a lot of Trump supporters over the
weekend a couple of weekends ago. Now I come to learn that you're relaying
that a U.S. attorney is not going to investigate who might have funded
these protesters who confronted you and your wife.

How do you feel about that?

PAUL:  I think that, if our cities are going to be livable, if you want
people to travel to our nation's capital, you have to make them safe.

If the people throwing firecrackers in there, people coming into the
restaurant and taking your food are not punished, then who will want to
travel? Right now, they have said we can't eat inside because of the virus
and we can't eat outside because of the rioters.

But, yes, they have to have law and order. They have to arrest these
people. But I think they should check the finances. And what disturbed me
most when I spoke to the assistant U.S. attorney in D.C. yesterday was
that, basically, she said there was not going to be any investigation and
pursuit of the people who attacked my wife and I.

And I asked specifically, did you look at their finances to see who was
paying for their trip to Washington and who was paying for them to stay in
fancy hotels? And she wouldn't indicate whether there was an investigation
or not.

She just said nothing was being pursued at the moment. So, this does
trouble me. And I think it leads to more chaos. And many people online have
responded, look, if you're not even going to investigate people attacking a
senator, what about ordinary citizens? Do they care at all?

Do they care that anybody goes to restaurants anymore? Our big cities have
to have law and order, or they're going to be ruined.

CAVUTO:  All right, Senator, we will see what happens. Hope at least
something does to address this. But it looks like an uphill battle now.

Rand Paul, thank you. Have a safe Thanksgiving, sir.

In the meantime, here, we talk about all the promise of vaccines down the
pike here. There is a treatment. I guess they're not outright calling
Regeneron a vaccine, but a treatment that's out, and now immediately
getting released.

Jennifer Griffin has the details at the Pentagon -- Jennifer.

JENNIFER GRIFFIN, FOX NEWS NATIONAL SECURITY CORRESPONDENT:  Well, Neil
some really positive news today about vaccines and therapeutics.

Regeneron Pharmaceuticals received U.S. government approval for emergency
use of its monoclonal antibody treatment just three days ago. Here's HHS
Secretary Alex Azar.

(BEGIN VIDEO CLIP)

ALEX AZAR, U.S. HEALTH AND HUMAN SERVICES SECRETARY:  Following FDA's
authorization of Regeneron antibody cocktail this past weekend, we began
distribution of the first 35,000 doses of that product today.

(END VIDEO CLIP)

GRIFFIN:  This is the same treatment that President Trump received last
month. On Saturday, the FDA agreed to allow emergency use of Regeneron for
people with mild to moderate symptoms who are at high risk of developing
serious illness due to age and underlying conditions.

It's not authorized for use in hospitalized patients or those who need
extra oxygen. CDC head Robert Redfield told Dana Perino vaccinations will
begin next month.

(BEGIN VIDEO CLIP)

DR. ROBERT REDFIELD, CDC DIRECTOR:  First, it's exceptional that we have
these vaccines, and it's very exciting. And, again, it just reinforces why
I want people to be vigilant, because we're turning the corner now.

You don't want to be the last group to end up getting COVID, because the
vaccine is going to begin to be rolled out probably by the end of the
second week of December.

(END VIDEO CLIP)

GRIFFIN:  Redfield says the CDC will have 40 million doses before the end
of the year, enough for 20 million people.

The general public will have access to the vaccine by March, he says. The
U.S. government already has purchase agreements for up to 300 million doses
of the AstraZeneca vaccine for Americans.

(BEGIN VIDEO CLIP)

AZAR:  We now have phase three data on three vaccines, three more vaccines
in active study. Five therapeutics now are authorized or approved by the
FDA.

(END VIDEO CLIP)

GRIFFIN:  The FDA will meet on December 10, to look at the results of these
recent trials. If all goes well, Operation Warp Speed can begin vaccine
distribution within 24 hours of authorization.

Secretary Azar said CVS Health has said it expects to begin vaccinating
residents of nursing homes within 48 hours after FDA authorization -- Neil.

CAVUTO:  Very promising, indeed.

Jennifer, thank you very much, my friend, Jennifer Griffin following all of
that.

Well, we told you about the Dow hitting 30000, a little bit better than
that. Are we seeing a lot of green, though, because, well, we're looking at
the green, the environment, and trillions of dollars worth of spending?

Could the environment over the environment be actually helping the stock
environment?

After this.

(COMMERCIAL BREAK)

CAVUTO:  All right, here's the good news on COVID if you're eating out.
They will test you to make sure you're OK. Here's the bad news. It's going
to set you back 50 bucks. Still plan on eating?

Food for thought -- after this.

(COMMERCIAL BREAK)

(BEGIN VIDEO CLIP)

JOE BIDEN (D), PRESIDENT-ELECT:  For the first time ever, there will be a
principal on the National Security Council who can make sure climate change
is on the agenda in the Situation Room.

For the first time ever, we will have a presidential envoy on climate.

(END VIDEO CLIP)

CAVUTO:  All right, Joe Biden calling him a presidential envoy. Others are
saying he's going to be a climate change czar.

But John Kerry is back in action, the former presidential candidate, the
secretary of state, the last one under Barack Obama, back in the fight to
get the whole Green New Deal in, and the trillions of dollars' worth of
spending that comes with it.

Steve Moore is very excited at the prospect and heartily endorses this
move.

All right, maybe not.

(LAUGHTER)

CAVUTO:  Steve, what do you think here?

One of the things we know is that we're going to be back in on this, but
that also means back in on paying the lion's share of this that the
president quit back in 2018 because he said we were paying a
disproportionate share, and the Chinese and the country of India were
escaping that.

What do you think happens now?

STEPHEN MOORE, FORMER DONALD TRUMP CAMPAIGN ADVISER:  Well, that's right,
Neil.

Look, I think one of Donald Trump's wisest decisions, which really did put
America first, was pulling America out of the anti-America Paris climate
accord. And now that's obviously one of Biden's top priorities to put us
back into that deal.

And what's really changed over the last 10 years that nobody expected is
that we have seen this incredible boom in the shale oil and gas industry
that has lowered costs. It's become super abundant in the United States.

And what frustrates me is, the other thing that Trump did that I think is
one of the reasons he's going to go down history as a great president is
for the first time in your and my lifetime, we became energy-independent.
We have been producing more oil and gas than we're consuming for the first
time. So we're not captive to the Saudis or to the OPEC nations or to
Russia, for that matter.

And it just doesn't make any sense to me to move away from those great
energy sources that are cheap and abundant and made in America. But it
looks like that's going to be one of Joe Biden's top priorities.

CAVUTO:  I know, I'm not saying anything profound here, Steve, but you have
indulged that over the years we have chatted, that I know elections have
consequences.

The president's still fighting the outcome of this one. I get that and all.

But he reversed or tried to, even with executive orders, if Congress wasn't
moving fast enough, everything or as -- most -- as many things as he could
under Barack Obama. It's very, very clear some of these early moves,
including planned executive orders, under Joe Biden will do the same to
whatever Donald Trump was doing.

It's got to confuse the world, right? I mean, it's one thing -- these
aren't minor adjustments. These are 180s after 180s, you know?

MOORE:  Well, I think that's right.

I mean, Biden is going to reverse a lot of the most positive things we did
on health care, on deregulation. You mentioned the Paris climate accord.
The Iran deal, what's going to happen with that? So I'm not a big fan, by
the way, of legislating through executive action.

We do have a legislative branch, Congress. And this governing by executive
order is sort of putting these powers in the hands of the executive branch
that belong with the legislature.

But Trump's record on the economy has been really nothing short of
spectacular. I was listening to your previous conversation about Dow 30000.
I mean, really, that's a pretty amazing thing, given what we have been
through this past year, Neil, when you think about we have had a pandemic
that flattened the economy for the first half of the year.

We had all these businesses struggling. Now we have this vaccine. We have
got -- I mean, I really think Trump is going to be going out on a very
triumphant note. I wouldn't be surprised if he doesn't...

CAVUTO:  Do you think, though, in your heart of hearts, Steve -- I mean,
you can wonder about the timing of these vaccine announcements that came
out a week after the election, Dow 30000.

MOORE:  Yes.

CAVUTO:  If we had seen that right before the election, do you think it
would have been a different outcome?

MOORE:  Oh, I don't think there's any question. If the election were held
today, I don't think there's any question Donald Trump would be elected by
a pretty wide margin, because we have had the two -- those two
developments, a vaccine, which is a miracle -- I mean, nine months to
develop a vaccine -- and the second thing is, we got the monster jobs
report.

CAVUTO:  The irony was, many who turned away from the president turned away
because they didn't think he was doing as good a job on the virus.

MOORE:  Exactly.

CAVUTO:  Do you think, in the end, in retrospect, had he been more
aggressive about the mask thing, had he been more aggressive about everyone
being on the same page with this, that he would have another four years in
the White House?

MOORE:  I think that the news that we have seen in the last few weeks has
been extraordinary.

I think people are upbeat, even, by the way, in the area that I work on,
the economy. Even, I think, a majority of Biden voters said that Trump
would be better on the economy.

I think Trump, what tripped him up was some of his behavior and some of his
actions that just rub people the wrong way. But I'm very proud. I have to
say, I'm very proud of the job this president did on the economy, and I'm
proud to have been a small part of it.

And I think, as the months roll on, I think people are going to look back
and say, Trump, it made a big difference having a businessman in office who
knew how to grow an economy and create jobs. And, boy, did he do it.

He built -- rebuilt the economy twice, twice.

(LAUGHTER)

CAVUTO:  Yes, it is what it is, as you say.

And you didn't have just a small role in that. People can say what they
want...

(CROSSTALK)

CAVUTO:  ... and all.

MOORE:  Tiny, very tiny role.

He knew what he wanted -- he didn't even need economic advice. He knew what
he wanted to do. I mean, he had just great instincts on the economy.

CAVUTO:  All right, well, I think you sell yourself -- I think you sell
yourself short young man.

MOORE:  Well, thank you, Neil.

CAVUTO:  But, anyway, Steve Moore, very good seeing you again, my friend.

Woulda, coulda, shoulda. We will never know, if we'd seen Dow 30000 the
week of the election, if we had seen some of this promising vaccine news
right before the election. Just one of those things. Would it have changed?
Would it have changed the outcome?

Stay with us.

(COMMERCIAL BREAK)

CAVUTO:  All right, we interrupt this talk of Dow 30000-plus for peace
breaking out in the Middle East.

Just think of it, a Saudi prince meeting with Benjamin Netanyahu, as one
country after another makes peace with the Jewish kingdom, at a time when a
lot of folks were saying they were going to war almost instantly. That was
the view then. So, what happens under a President Biden now?

The read from Rebeccah Heinrichs of The Hudson Institute, senior fellow
there.

It does get lost in all these issues we discuss, right, Rebeccah, about
what's happening with the markets, and the vote stuff, and the virus stuff,
and the vaccine promise and all. But, in the Middle East, it's like peace
is breaking out. What's happening here?

REBECCAH HEINRICHS, THE HUDSON INSTITUTE:  Well, the Trump administration
really has not gotten the credit it deserves for foreign policy generally,
Neil.

And I would say that what we're seeing now with this meeting, this
unprecedented meeting between Bibi Netanyahu of Israel and the prince, the
young prince, MBS -- and this was orchestrated by the United States
Secretary Pompeo -- is that it really kind of destroys this myth, a couple
different myths, one, that the United States has not been leading when
President Bush has been president -- or President Trump has been president.

And then the second myth is that the United States is not working with our
allies. Both of those things are not true. There's really been two major
approaches towards the Middle East that has made the conditions conducive
to these breakthroughs, these peace breakthroughs, between Arab states and
Israel.

And those two things are defending Israel and our Arab partners and
countering the major threat, the preeminent threat in the region, which is
Iran. Those two things have brought some really great progress for relative
peace in the Middle East.

CAVUTO:  Obviously, Israel will have a -- I wouldn't call it a more tense,
but certainly not as friendly a relationship with a President Joe Biden
than it's enjoyed, certainly Benjamin Netanyahu, leading a largely
conservative government, has enjoyed with this president.

I'm just wondering, what will change, do you think, as far as our posture
with the country?

HEINRICHS:  A few different things.

I think that there's not -- there has not been a recognition of the
successes of the Trump approach. And that's to our, I think, shame. I think
that president -- president-elect Biden has in the past called Saudi Arabia
a pariah nation, has really gone after Saudi Arabia very publicly on its
human rights, and not to say that Saudi Arabia doesn't have human rights
problems.

But if you're looking at this kind of thing, more realistically, in power
politics, what is more conducive to peace, which helps human rights and
decreases human suffering and warfare, some of those things kind of have to
be moved to the backstage.

And so I think that that's going to change. And then also you have  who are
the people who are going to make up the Cabinet in a Biden administration
who want to rejoin the Iran deal. And getting out of the Iran deal has
helped isolate and take away some of the resources for the Iranian regime,
what they have used to disrupt the Middle East and to fund terrorism.

So, unless something majorly changes in the outlook of Joe Biden, his --
and his advisers, I'm afraid a lot of this great progress is going to be
undone, Neil.

CAVUTO:  You mentioned what's happening now and the tone that could change.

I tend to look at things through the prism of money and all that stuff.
It's just shameless, what I do for a living. But one of the things I was
watching was, with the administration, the incoming administration's dim
view of fracking, and some of the energy independence we have gotten
because of pushing fracking and all alternatives, we have become now the
largest oil producer on the planet.

That could get compromised under -- under the new administration and maybe
make us more reliant on the very same people we have -- we have become
independent from on this front. I'm wondering how that plays out.

HEINRICHS:  One hundred percent, Neil.

I thought during that second debate between Biden and Trump, when Biden
really kind was defensive about his position for ending fracking, I thought
that was going to potentially undo him, especially in Pennsylvania. It's
not just Pennsylvania that's, of course, reliant on that industry, but many
states are.

And it also is a cornerstone to a strong America, a sovereign America, that
allows the United States to have less dependence on these other nations in
troubled parts of the world. And it gives the United States more freedom to
decide when and where we act in the world.

And so I definitely think that that's an issue not just for foreign policy
generally, but, of course, for the -- for markets, for our economy. So that
is going to be, I think, something very troubling.

And I hope, of course, that, as they get in there, they start getting
intelligence briefings and that kind of thing, that reality will mug them,
as they say, and that some of these things will change. But I'm not very
optimistic about the direction of this administration on fracking.

CAVUTO:  I like that line. Reality will mug them.

Rebeccah, I hope you have a safe Thanksgiving. Thank you very, very much.
Good seeing you again.

HEINRICHS:  Thanks so much, Neil. Happy Thanksgiving.

CAVUTO:  To you as well, Rebeccah Heinrichs.

In the meantime, we're told about how many people can be at our home for
Thanksgiving, but no one says anything about how we all leave the house
afterwards, go shopping, with thousands of people crowded around us.

That's fine -- after this.

(COMMERCIAL BREAK)

CAVUTO:  Ready for the crowds?

Not at your home, at your nearby mall or store.

Jackie DeAngelis on what could be a very busy shopping season after all --
Jackie.

JACKIE DEANGELIS, FOX BUSINESS CORRESPONDENT:  Hey, Neil.

Well, there has been a holiday shopping surge ahead of schedule this year
for several reasons. First, people are anticipating more lockdowns and
restrictions. We're seeing it here in the city. We're bracing for it. So
the lines and the rules and regulations, they might actually make shopping
a little difficult.

There are some who say shopping in these conditions for the holidays just
isn't fun and some of joy has sort of been sucked out of the season. But
there is a little bit of a silver lining. Americans that haven't lost jobs
have saved money through the pandemic, just spending less on life in the
last nine months that they have been at home.

And they also may be willing to splurge on others and themselves to bring
some household cheer. The U.S. personal savings rate jumped to a record
32.2 percent in April. That's up from 12.7 in March, according to the U.S.
Bureau of Labor Economic Analysis.

And the retailers are catering to that by starting their discounts early
online to offer bargains and to make it easy for consumers. Now, the
National Retail Federation actually doesn't expect a downtick at all in
holiday sales because of the pandemic.

They're forecasting an increase of 3.6 to 5.2 percent from last year. And
last year, we saw holiday sales up 4 percent to $729.1 billion. They also
expect those online sales, which are included in the total, to increase 20
to 30 percent from a year ago.

Now, with the vaccine on the way, there could be some tough months ahead,
but there is that light at the end of the tunnel. And overall optimism,
Neil, is what helped lift that Dow today over 30000.

CAVUTO:  Not too shabby.

All right, Jackie, thank you very, very much.

Let me ask you something. Have you ever tipped a maitre d' to try to get a
good table? Well, how about 50 bucks to get a COVID test, whether you want
one or not?

(COMMERCIAL BREAK)

CAVUTO:  If you're lucky enough to have indoor dining where you are, your
table is ready, but first a $50 payment for a COVID test.

Kristina Partsinevelos in New York City, what's going on here?

KRISTINA PARTSINEVELOS, FOX NEWS BUSINESS CORRESPONDENT:  Neil, it's not
just $50 for the COVID test. You also get a glass of bubblies, too.

And this is possibly a glimpse of what the future of indoor dining could
look like. I'm at City Winery in Chelsea right now. And they are the first
restaurant here to mandate patrons to take this $50 rapid COVID test.

Neil, I will admit, I left the restaurant, came back. So, I actually had to
take the test twice today. The way it works is, you have a nasal swab. They
put it up your nose. You wait about 15 minutes. If you test negative,
you're home-free and you can come in. If you test positive, unfortunately,
they turn you away.

And while you're waiting during that 15-minute period, you do get a nice
glass of bubbly. But, luckily, I was part of the dry run.

Overall, this is an example of how restaurants could be moving forward.
They want to ensure safety. Over here, the owner told me that they are sold
out today and tomorrow. And with 1,000 restaurants, Neil, that have shut
down since the pandemic since March, you can understand why a restaurant
like City Winery, it just wants to stay ahead of the curve, and hopefully
keep everyone safe.

So, luckily, I didn't penetrate the bubble, and we are all good -- back to
you.

CAVUTO:  That's an interesting idea.

And speaking of which, we have Michael Dorf with us right now, the City
Winery founder and CEO.

Thank you, Kristina.

Michael, what reaction are you getting from customers?

MICHAEL DORF, FOUNDER AND CEO, CITY WINERY:  It's been mostly positive.

And, certainly, there are some people challenging the legitimacy of what
we're doing, questioning the type of testing we're doing, and also
frustrated that we're forcing a $50 charge before you come in.

This is only -- let's be clear. We're doing this for two days a week to
pilot the concept. We only are doing this as a bridge to a time when the
vaccine is in enough people's arms and we can have indoor dining again
safely. But we didn't see any alternative if we were going to survive over
the next four or five months in a cold New York season, where people are
reluctant to be eating outdoors anymore, to go to this next level of
safety.

And, of course, if people don't want to do it...

CAVUTO:  So, when you come in the restaurant, Michael, just to be clear,
you would -- you would give me this rapid test, right?

I find out the results in 15 minutes. You give me a glass of wine, I guess.
Do I drink it outside? Am I allowed to drink it in your restaurant? What do
I do?

DORF:  You can't come into the restaurant until you're tested negative.

CAVUTO:  Got it.

DORF:  So, luckily, with our new facility here on 15th Street and the West
Side Highway, we have got a winery space that is serving as an intermediary
from the street into the restaurant.

And so we're using that as our testing space.

CAVUTO:  Huh.

DORF:  Every 15 minutes, we're testing about 10 customers, and they're
coming in. The doctor and the nurse are doing the test. Then they wait.
They get their bubbles.

They are at six-foot-separated tables. When they get the results, then
they're able to go in.

So, no one inside...

CAVUTO:  What's the reaction of people -- what's the reaction of people who
test positive?

DORF:  Well, we haven't had anyone yet. We're doing -- tonight is our first
night.

CAVUTO:  Oh.

(CROSSTALK)

DORF:  We have not had anyone test positive.

They're -- the antigen tests apparently have more false positives than they
do negatives. They're very good, 99.9 percent on the negative test side.
But, on the positives, it's about 90 percent. So we are expecting a few
positives this evening.

Then the doctor will give them a PCR test, which will then -- it takes 24
hours for results, and we won't let you in. But then if there -- if you are
positive, it's really good that you got the test, and especially if you're
asymptomatic. That's why testing is a really important thing to be doing,
so we can beat down the virus.

CAVUTO:  The ones who might test positive, well, let's say people coming in
tonight, will you give them the voucher to come back, once you're negative,
drinks on us?

DORF:  Yes. Yes, we -- lookit, we don't want to turn anyone down.

We actually don't want to be charging people money for this. We would
prefer to have it back to where -- the way it was. But that's not the
reality. It's a harsh reality. We have about six months to wait until May
or June, when the vaccines will be deployed. We have got to survive to that
point.

And this seems like a safe way to go.

CAVUTO:  It's not a bad idea. It might ruffle some feathers, but the more I
think about it, keeps your staff safe, keeps you safe. Other customers are
reassured they're safe. So, it might be a win-win.

The $50 thing, maybe if you drink it enough wine, you don't -- you ignore
the $50. You forget that you just spent it.

(LAUGHTER)

CAVUTO:  So, Michael, we will see what happens.

Thank you very, very much, Michael Dorf, the City Winery founder and CEO.

By the way, they're not the only ones dabbling with this. A lot of other
restaurants are playing with ways to make customers feel that, where
they're eating, they're safe, it's a safe zone, and the tests prove it.

All right, that will do it here.

Again, the Dow Jones industrials now over 30000. Indications right now the
more promising talk on vaccines, which, by the way, could remove
requirements for tests like that, the better things look.

Here comes "THE FIVE."

END

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