Transcripts For FBC Mornings With Maria Bartiromo 20240713

Take a look, winning week better than 1 . Nasdaq turning positive for the year with gain on the session yesterday of 125 points, the dow industrials up 211 almost 1 and the s p yesterday 32 at 4 00 oclock on wall street. On the trade front top u. S. And china negotiators holding a call agreeing to implement phase 1 of the trade deal as and bombshell on Michael Flynn case. Justice department dropping the case against National Former adviser Michael Flynn after serious memo raised questions about the investigationment we have all the details. Boeing ceo David Calhoun, special guest live at 7 00 a. M. Eastern and look at Airline Industry and the latest of the still grounded 737 max fleet, mornings with maria is live right now. Global markets look like this. Take a look. Easing of trade tensions to the United States and china where the two sides agree to finish out the phase 1 deal, cac quarante 36, dax index up 88. German experts down nearly exports down nearly 12 on record. Best performer japan, nikkei up 2 and a half percent. Oil prices on the rise this morning. Take a look at crude oil, it is 24. 25 a barrel. Its up 3 this morning. The other top stories that we are watching this morning, more u. S. States will begin first state easing stay at home restrictions beginning today. In california bookstores, toy stores, Clothing Stores and florists can reopen for curbside pickup. The governor also announcing that theyll allow some computer and tech manufacturers to return to work as well. Michigan extending stay at home orders meanwhile for two more weeks, Governor Whitmer gave go ahead to go back to monday. President trump will be tested with coronavirus after personal valet tested positive of covid19. The president says that the daily testing regiment will apply to Vice President mike pence and top officials as well. President trump weighed in on this, watch. We could do things through executive order or otherwise that could help a lot of people like delays, delays of various filings and yet i could see that happening. Maria the white house reportedly considering a september extension for taxes, the deadline was already pushed back to july 15th from april 15th due to pandemic, now we are talking about the fall. Father and son in georgia charged with ahmaud aubrey. Two men accused of shooting and killing aubery. They thought aubery was a robber. That video has gone viral. Uber seeing an increase in ride request as more States Reopen this week. Company ceo says that he thinks uber will return to profit of a matter of quarters, not years due to covid19 pandemic. Ride requests to the United States rising 12 justweek. Shares of uber this morning rallying in premarket gain 6 right now. Futures this morning have a firmer tone. Investors anxiously awaiting numbers in 2 and a half hours from now. Unprecedented 22 million jobs in the month of april with Unemployment Rate hitting 16 , the full impact of covid19 pandemic and we know this is coming given the jobless benefits news we have been talking about for the last six weeks. Here with me to talk more about that cfra chief investment strategist sam stovall, dagen mcdowell, courtney and steve moore. Thank you very much for being here. Sam, let me kick this off with you, 22 million jobs expected to have gone away in the month of april. We have 32 Million People having signed up for Unemployment Benefits and yet this market is trading up, go figure, can you explain this . Sam good morning, maria, good morning, everybody, the economy is opening up and thats what investors are focusing on, yeah, they realize that we are going to show 22 milliondollar job loss and probably 17 Unemployment Rate but the market figures that the fed will have our back plus i think the market is looking beyond the valley, meaning its not looking at the numbers for the next 6 months or even for the full calendar year, we know how bad its going to be, what we have done looking at 2021 for earnings and see if we get a vshape recovery and the lowers reading in the aaii survey in the past 7 years that investors are basically saying, look, we are probably looking at good contrary indicater and at least near term the market could continue to work its way higher. Maria steve forbes, jump in. Look, my view is that obviously we are going to see the massive job losses but the important thing for investors to keep an eye on is what you were talking about, maria, which is that businesses are starting to reopen and that means that youre actually going to start to see hiring again, so i actually think the more important indicater is not how many jobs have been lost because, remember, that statistic that comes out today is 2 or 3 weeks old, its our businesses bringing workers on and estimate about 3 million more workers will be hired which is a very, very good sign. Thats not thats people that have jobs that didnt have jobs 2 weeks ago. Maria i think you really make a good point, steve moore, i confused you with your buddy steve forbes. Steve hes my hero. Maria your colleagues an good friends have said many months for now you have seen payroll tax holiday, do you think the president is going to implement that in next stimulus or relief package . Steve i dont think he will. The other Big Development that we will have to talk about as the morning progresses is nancy pelosi sort of showed her hand yesterday probably in a way that she wishes she had where she basically made the point where she 2 trilliondollar stimulus or after 3 trillion we have spent and liberals, democrats are now saying, hey, we know the way it passes and cancel trump tax cut of 2017. That has been the agenda all along and now using pandemic crisis for canceling tax cuts that trump passed what 2 years ago and then using the money for passing Unemployment Benefits and republicans better stop that. Maria you know, dagen, Kevin Mccarthy came on and said here is my plan to get congress back. The more we stay home nancy pelosi is working on 1 trilliondollar plus and bring it back with no voice in it and want up and down vote. Republicans are trying to stop this, dagen. Dagen well, the republicans are trying to act like they got religion on spending now and its hard to given the fact that one out of 5 workers overnight had been put out of a job, they didnt have religion on the speeding up to pandemic, this economic, Health Crisis and now they are going to get tough on the spending when you got the 2year treasury bond yield. The treasury build year at record low, so, steve, then President Trump should stop talking about Infrastructure Spending and he brings that up. One more thing, i said this before, a payroll tax cut doesnt help if you dont have a payroll. So you need to stay focused on the facts that these businesses need to reopen and you have to make sure that these jobs dont disappear forever. We will talk about the retail bankruptcies but a lot of the jobs particularly in retail and restaurants are not coming back potentially. Maria well, you know how you continue to penetrate and steepen this jobless issue is if you continue the ppp program where youre paying people more to stay home than you are to go to work. I mean, this is a major issue and we brought it to everybodys attention weeks ago. The fact is that some people are making 23 an hour with 600dollar flat fee. Dagen thats separate maria why would anybody go back if youre making more to stay home and this program goes until the end of july . Dagen thats separate from payment protection program. I said this before, thats separate from payment protection program. This was trillion dollars with extra 600 per week coming from the federal government. Thats separate. The Paycheck Protection Program and i pointed this out in recent days, the Treasury Department wrote rules this week that said to employers and included a line in there, if you offer to bring a worker back to your business using a paycheck protection loan grant and they refuse, they could potentially lose their Unemployment Benefits if they refuse to go back on the job. Its going to be up to the Business Owners to enforce that. Maria final word from sam stovall, sam, youre not getting guidance from companies, 80 of s p 500 Companies Reported First Quarter earnings, 67 beat expectations but no guidance because very few have visibility into 2021 right now. Real quick. Sam absolutely, beginning of the year expectation 8 rise in earnings, now 22 decline where the second quarter, the one thats coming up expected to see a year on year shortfall of more than 40 , so Companies Just dont know whats going to be happening in the near term. Maria all right, we will leave it there. Sam, thank you so much. We will slip in a short break. We are expecting a rally at the start of trading, coming up next exoneration, dropping charges of Michael Flynn as my sources correctly predicted and you heard a week ago, we will discuss it, stay with us. Maria welcome back, Justice Department is dropping its case against Michael Flynn. The department saying that prosecutors would not be able to prove the case just days after leaked internal fbi memos, show agents were discussing efforts to get flynn to lie. Flynn pled guilty in 2017 to lying to the fbi. They set him up. The conversation had to do with conversations he had with a Russian Ambassador to the United States. President trump speaking out about general flynn yesterday at the white house. He was an innocent man, he was targeted by the Obama Administration and he was targeted in order to try and take down a president. Its treason. Im very happy for general flynn. He was a gate warrior. Maria joining me right now the Washington Examiner chief Political Correspondent Fox News Contributor byron york, your reaction to all of the developments . Byron welshing this is a huge admission of failure on the part of the Justice Department and Robert Mueller. Basically what happened on the flynn case. This all stems from a division by top fbi officials on january 24th, 2017, four days into the Trump Administration to go question flynn at the white house, to go around protocols, get in there, question flynn and then later charge him with lying on that and what weve seen in this new assessment of the case is that Justice Department officials now believe they had no legitimate reason to do that, to go question flynn. Everything else stem from that and the case finally fell apart yesterday. Maria yes, thats absolutely right. Jim comey told us exactly his plan in that interview that he did where he basically said, well, we thought it was chaotic so we sent them over trying to corner flynn. Look, this is the theme throughout this investigation for the last 4 years, where there were informants that ran into Trump Campaign people and tried to entrap them. We learned that as well from the House Intel Committee releasing transcripts last night of the russia probe including interviews with steve bannon, jared kushner, brad pascale and evidence that the Trump Campaign attempted to cover in 2016 election, adam schiff continues to lie about this. Adam schiff told us that collusion with trump and russians were in plain sight, thats a quote from adam schiff and he will not stop. He and jim comey have been tweeting about this with more lies. What do you make of all of this . Byron well despite overcollusion and the nonexistence of collusion is the underlying foundation of every single interviews. Whats very interesting to see is that in every one of one thea Administration Official or was in Obama Administration, in the time that you were there or before the time you left did you see evidence of conspiracy, coordination, whatever you want to call it between the Trump Campaign and russia and they all answered no to varying degrees. Some of them didnt know anything and some didnt see it and the reason republicans were asking those questions were that at the very time adam schiff, the ranking democrat at that moment was going out in public and saying what youve just said, theres collusion, theres solid evidence of collusion and what was happening is in all alf the questioning sessions, the interviews, they were not finding collusion. Maria thats right. And you know now there are real questions about the Mueller Investigation, so on my show on sunday, sunday morning futures lindsey graham, jim jordan, trey gowdy, all questions number 1, the Mueller Investigation, because it was personal counsel was brought on with no evidence, no predicate whatsoever. They knew in may of 2017 that they had no evidence of collusion between trump and russia and they still named mueller. Kim strassel with great oped the mueller coverup, there are also questions about Christopher Wray is doing about this 2 years ago and said you can sleep well at night, we will take care of everything, he hasnt done anything. These two subject matters are front and center, the Mueller Investigation and what Christopher Wray is doing. What do you see happening and we are all waiting on john durham and criminal probe. Byron Mueller Investigation was always crippled by the fact that they couldnt find collusion, there was no underlying crime and a lot of people think that mueller did not press in the end to try to interview President Trump was that he never could cite an underlying crime as a predicate for the interview. So the question is what will the the durham investigation find out about this. We know now that the Flynn Foundation crumbled yesterday and he could not establish he called coordination with trump and russia and what we are going see in the durham report, hopefully, more evidence about the foundation of all this, the reason the fbi started the investigation of George Papadopoulos or carter page issue and see if there was any foundation at all to start the thing in the beginning. Maria there wasnt, i could tell you that right now. Byron, good to see you. Thank you and the dominoes are beginning to fall. When we come back america reopening, california among several states to get things rolling again. What we can expect when we come back. Stay with us. [announcer] weve all seen it. The story where the chances are low, and the cost is high. The sacrifice is real. Its all around us. But this isnt a story about how tougher times beat us. This is our comeback story. The time when we rally and come from behind. The time when we defy the odds and get back to work while the whole world watches. Yeah, this is your comeback story. And when its time to come back, well be ready. Staying connected your way youre just a tap away from personalized support on xfinity. Com. Get faster internet speeds with a click. Order xfi pods to your home in a snap. Or change your Xfinity Services with just a touch. All in one place. Youre only seconds away from all of that on xfinity. Com. Faster than a call. Easy as a tap. Now thats simple, easy, awesome. Maria welcome back, reopening america as the country anticipates its worst jobs report in history. Manufacturing power houses california and michigan are ramping up plans to reopen factories and businesses. The golden state allowing some companies to begin operations as soon as today while the home to americas auto giants ons on monday. Disney announcing that retail and Entertainment Complex in orlando, florida, Disney Springs will partially reopen on may 20th, shanghai disneyland will reopen may 11th and tickets for that day sold out in minutes. Courtney, jump in here, massive loss of jobs in april and you have handful of important job creators reopening this week . Yeah, maria, you know, it is optimistic and i will say excited to see some of the states starting to reopen, but we need to realize its going to be, you know, a gradual reopening. You can see the governor of california talking about kind of a phased approach on how they are going to do this. We at employ bridge opened a few of our offices in georgia and colorado this past monday and we have seen employers start to open up again but i want to say we are having a challenge getting these people to show up for work and theres two reasons why, one is the stimulus, the cares act, some people that are making more money staying at home, you talked about it before and the second reason is people are scared, people are scared to come back to work so we need to give them the trust, you know, that the environments are going to be safe and they can stay healthy so theres also some, you know, cautiousness out there in the marketplace. Maria steve, how do you see it, how long do you think it would be until you see manufacturers and Entertainment Companies returning to full capacity, steve moore . Steve joanie is right that its going to be a slow process and you have to get the process started and you have workers that are putting toe in the water and slow basis see Companies Come back, im in a great mood because in maryland they are allowing us to play tennis and golf again for the first time in 2 months. Maria great. And youll be doing that this weekend, i guess. Steve there you go. Maria all right, we are going to take a short break, when we come back, congressman jim banks is here to talk about china and Coronavirus Task force investigations plus hes flattered, Governor Andrew Cuomo talking about Robert De Niro and possible pandemic film, go ahead, stay with us. Maria welcome back, good friday morning, everybody, thank you so much for joining us. Im maria bartiromo, it is jobs day friday may eighth, top stories 6 31 a. M. On the east coast, the april jobs report coming out at 2hours time, economists are expecting historic loss of jobs. 22 million jobs lost in the month of april. Unemployment rate expect today skyrocket to 16 as the coronavirus shut down has businesses closed across america. Ahead of the numbers futures are pointing to a higher opening this morning on pace for a winning week as america begins to reopen. Markets ended in the green yesterday as well on this idea that little by little we are seeing businesses open across the country. Yesterday the dow industrials were up 211 points, nasdaq up 125 and s p was up 32. Top of the triple digit move we see this morning up 300 points. Nasdaq is now positive for the year. Global markets this morning also with firmer tone, the easing of trade tensions between the United States and china with that phone call between the two sides helping markets overseas, european indices up and the cac quarante 46 and dax index in germany up 123. German exports were down nearly 12 down, steepest decline on record. If asia overnight green across the board as well, best performer in asia overnight was japan, nikkei up. Shares of roku plunging in premarket, Cheryl Casone with details, cheryl. Cheryl roku is down about 8 right now. Lets take a look at the stock, now more than 8 and a half percent. They reported a net loss in the latest Earnings Report as companies canceled ads to conserve cash amid covid19 pandemic but roku seeing substantial growth in ad revenue. The ad crunch offset by more spending on the roku platform folks at home using roku, today 75th anniversary v day and the department of defense is going to hold a special virtual ceremony with messages from military leaders and celebrities honoring the greatest generation. Later this morning President Trump is going to visit in person the world war ii memorial in washington, d. C. The first lady will go with him as well. And here is a look at what is trending this morning on fox business. Com, jerry sign field wins court battle, living in tyler perrys mansion, Alex Rodriguez and Jennifer Lopez end their bid to purchase the mets. Mets will still have to go on somehow, maria, those are your headlines, back to you. Theyll be okay. Maria i knew that. Spectacular floor directors on it. Cheryl, thank you, china trade talks still on track despite looming covid19 tensions breaking over night, top u. S. China trade official to implement trade deal with both sides agreeing to meet their obligation that is were agreed upon in january, of course, that means that the Chinese Communist party will buy 250 billion worth of moddies that they promised. Earlier this week i spoke with treasury secretary Steven Mnuchin who was on yesterdays phone call with chinese officials. He was confident that china would uphold its end of the deal. Secretary, after all of this is there any way that the chinese will keep to their promise of buying 250 billion of goods or reneg . No, im expecting to meet obligations and i have every reason to expect that they honor this agreement and if they dont, there would be very significant consequences in the relationship and in the Global Economy as to how people would do business with people. Maria joining me right now indiana congressman Armed Services Committee Member and gop task force jim banks, thank you for joining us. Hey, maria, great to be with you. Maria so you are part of the task force that gop leader Kevin Mccarthy announced yesterday. Tell us what you plan to do. Now we see the chinese officials are saying they will buy the 250 billion of commodity and keep their end of the deal but i know that there are at least 60 bills right now. I can tell you that American People expect us to do our part to hold china accountable. Whats incredible about the China Task Force that republican leader Kevin Mccarthy tried to put together several months ago, put in agreement with nancy pelosi, the speaker to make it a Bipartisan Task force and several months ago when Kevin Mccarthy went to Speaker Pelosi and said here are the names of who i want to appoint, the speaker backed off. Kevin tried to get the speaker to get back in the table and get Democrat Members to join republican members with Clearing House to work on issues to address the china threat. Now, maria, i know that you and i agree that china is existential threat that america faces today but the fact that democrats wont come to the table and address the threat is shameful and unfortunate but we will do our part. Thats why mccarthy put together the task force, announced it yesterday with dozen or so members and we will work on legislation and continue to introduce it, this congress to move forward to address everything from from our economic position and and supporting this president with better trade deals to address things, National Security threat that china poses today. Maria and you are leading one of those bills called the restricting predatory acquisition during covid19 act, youre calling for increased monitoring of chinas acquisition of u. S. Companies and you have also been named to the task force as you said by Kevin Mccarthy. The committee is overseeing the policy on china but let me ask you about acquisitions because this is one of the Chinese Communist partys key strategies, buy up companies, buy up companies in Silicon Valley in particular and they would be forced to transfer technology to their Chinese Communist Party Partner and in a couple of years youre probably going to see a competitor in exactly what you just acquired only it would be a chinese competitor. Is that the kind of acquisition that you have your the red flags on . Bottom line here, maria, china should never be able to profit of pandemic that was of their own making and thats exactly what they are trying to do. They are trying to seize the moment while americas economy on its knee to swoop in and acquire American Innovation and American Intellectual property and take it back to china while they allowed the american businesses that they acquired to go out of business. The piece of legislation that i introduced last week to crack down on any Chinese Investment over 51 in American Companies and stop those acquisitions from happening before they start. Maria yeah, i mean, what i dont understand is why your colleagues on the left would not want to be in partner with you. House minority leader Kevin Mccartney came on the program yesterday to try to move this forward. He previewed his task force that he was going to announce but here is what he said about the partnership in congress, watch this. One thing has become very clear, chinas coverup directly led to this crisis. It follows the same threatening partner of behavior we have seen from the Chinese Communist party for years. Something thats long been a bipartisan consensus in washington. We cannot wait any longer. The stakes are too high to sit oddly by. Maria so congressman, i dont understand why your colleagues on the left would not want to be part of this. Why would they downplay what chinas behavior has been when its pretty obvious . Whats more incredible, maria, nancy pelosi was one of the biggest china hawks in congress. She left out the door that donald trump got elected. Ive worked on chinarelated issues with democrat colleagues, ive traveled with focus on studying the china threat with colleagues but now when rubber meets the road and its time to do something about the china threat and American People begging us to do that, democrats are more interested on beating up on the president and making the president look bad than they are in joining republicans in addressing the biggest threat that we face today. Its shameful and unfortunate but republicans will continue to do their part and i will be this would be one of the major issues thats on the ballot in the november election. Maria thats a sad state of affairs, i agree with you, its going to be about china this election. Congressman, thank you so much, we will slip in a break. When we come back, coronavirus ravaging retail, Neiman Marcus, latest to file bankruptcy protection in retail. We are taking a closer look at this. Elon musk offering a clue on how to pronounce his baby boys name and its making a buzz, we will have it on the other side of the break. Friday with scores at stay at home orders, pyring former congressman trey gowdy on what reopening america would look like, its all right here on mornings with maria up and down. Depression to exuberance. And you could name many, many cycles like that over the years. My generation, having come through so many wars and so many things. Persistence. Its the heartbeat of this country. Stick with it. Confident financial plans, calming financial plans, complete financial plans. Theyre all possible with a cfp® professional. Find yours at letsmakeaplan. Org. And my side super soft . With a cfp® professional. Yes. With the sleep number 360 smart bed, on sale now, you can both adjust your comfort with your sleep number setting. Can it help me fall asleep faster . Yes. By gently warming your feet. But can it help keep me asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both comfortable. So, you can really promise better sleep . Not promise. Prove. During the Memorial Day Sale, save 1,000 on the sleep number 360 special Edition Smart bed, now only 1,799. Only for a limited time. To learn more, go to sleepnumber. Com maria welcome back, coronavirus and retail, the covid19 impact on the sector reaching new levels. Niemanmarcus filing for bankruptcy protection and joining us strategically managing director birt, how significant is the news with regards to news overall that nieman is filing . Maria, with niemans bankruptcy is bifurcating, the worst of times for Luxury Retail department and especially store retail. Its the best of times, theres a real for nieman, one of the things that you and team reported well, capital couldnt run dollar stores, 99cent only stores in california, the best Dollar Store Market in the country. They cant run department stores. You talk to the people there and you wonder if they can run a candy store. You need great leaders like alan and and proven turnaround winners, arthur c. Martin, formerly of saks and the food retail side we did a webinar yesterday for International Council of Shopping Centers, the food retail with people eating at home instead of away from home really can catalyze renaissance, dillards and macys and theres a great opportunity to sell hard goods and soft goods to save the malls and save the Shopping Centers anchored primarily by food and moving more Food Retailers into the mall the way jim taylor, jr. Did with sprouts in new jersey. Maria yeah, well, j. Crew also filing for bankruptcy this week, dagen mcdowell, jump in here. What i really, what struck me what we had ross perot, jr. , online retail, online buy asking representing 18 of the overall economy. All that has to go to 20 or 22 and hes going to need additional 1 million Square Footage to put in things like an amazon Redistribution Center in a mall. So all of the brick and mortar are getting overrun by online and the need for space for Redistribution Centers, dagen, thats the bifurcation going on. Dagen and i expect amazon to pay a lot less in rent than some of the traditional brick and mortar retailers. How much worse is this going to get, burt, because restaurants shut down you will see what i call the Amazon Effect in restaurants where youre going to have big chains that survive but the little restaurants that we love so much will go away, however, because these Big Department stores chains are going bankrupt and reduce footprint if not go away theres a real opportunity for online and emerging designer to boom, sell directly to the customer. Dagen, youre hitting on a key point. Webinar yesterdays bring etsy or ebays and let them put shops in department stores, look artisans, local good, local restaurant tours and you can literally revitalized the Shopping Centers and malls, look what Chris Baldwin are doing at b. J. s one of best cited mall in long island, at lower rate and converting into a b. J. s doing the same thing in chicago, we will see the distribution centers, we will seabag box and we will see a lot more locals with solar and kim co does so well, great landscaping and Community Events whether its entertainment, education, et cetera, so the malls can come back as we go from 400 over store. Maria great insight, we will see you soon, burt flickinger. Coupling up next how flattering andrew cuomo talk about Robert De Niro and possible pandemic film. Dont miss that, the morning buzz, right back. For the past 168 years, weve also stood by you, helping you weather storms like this one, to protect your loved ones. And well do it for 168 more. Some Companies Still helpihave hr stuck between employeesentering data. A. Changing data. More and more sensitive, personal data. And it doesnt just drag hr down. It drags the entire business down with inefficiency, errors and waste. Its ridiculous. So ridiculous. With paycom, employees enter and manage their own data in a single, easy to use software. Visit paycom. Com, and schedule your demo today. Maria welcome back, time for morning buzz. Update of story we told you yesterday, Robert De Niro wants to play andrew cuomo in possible movie about the pandemic. The governor is giving stamp of approval. Governor told Steven Colbert hes a big fan of de niro and acting. Dagen, your take on this. Dagen yeah, i think maria flattered. Dagen andrew cuomo called him a genius, did he see irishman and did he see meet the faulknres. This is why stay hate politicians and liberal actors from new york because this is their cocktail party. We will have a conversation about who would play what you want to play cuomo, i would love to play cuomo, well, governor, would you want Robert De Niro to play you, hes a genius, best actor of all time. Shut up and get to work. [laughter] maria oh, my gooden, goodness, a lot of people have been turned off by de niro. Elon musk welcomed boy with baby name and pronounced like the letter x, the next symbol is pronounced ash and then a12 stands for arch angel 12. The boys name, your take on this. Steve one quick point about cuomo, can you explain why the worst governor in america, the governor who has the worst in the country and the governor totally mishandled the coronavirus with respect to nursing homes, the transit, how in the world is he a hero . Maria wow, hes been out every day giving his press conferences. Thats why hes gotten all of this, you know, attention, i guess. Steve performance has been horrible, horrible. Hes totally mishandled the situation and hes treated about the star. Dagen can we go back to talk about the babys weird name. Thats more interesting. Maria ho do how do you pronounce his name . Maria 8 ash x12. Thats a mouthful. Its time for dinner. Xs12. More mornings with maria knowing were prepared for the future. Surprise we renovated the guest room, so you can live with us. Oooh, well. Im good at my condo. Oh. I love her condo. Nana throws the best parties. Well planned, well invested, well protected. Voya. Be confident to and through retirement. Maria welcome back. Good friday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is jobs day, friday, may 8th. Your top stories, 7 00 a. M. On the east comment. This morning we get a closer look the impact the coronavirus is having on jobs in america. Economists are expecting an historic loss of 22 million jobs in the month of april. Theyre expecting the Unemployment Rate to skyrocket to 16 , havent seen those numbers in a long time. The coronavirus shutdown is hurting businesses across america. Our special coverage begins at 8 00 a. M. Eastern this morning, all hands on deck. Ahead of the numbers, futures are pointing to a higher opening, on pace for a winning week, another opportunity for reopenings across the country. Dow industrials up 2345, s p up dow industrials up 245 points. Pretty good day yesterday with the nasdaq turning positive for the year, dow industrials up 211 points yesterday at 4 00 on wall street. On the trade front top u. S. And china negotiators holding a call, agreeing to implement phase one of the trade deal as tensions remain over chinas handling of the coronavirus. For more on china, tune into fox business tomorrow night at 7 00 p. M. Eastern for fox nation presents america versus china. Im taking a closer look at chinas play for World Domination. Dont miss our special presentation tomorrow night at 7 00 a. M. On saturday. On sunday, on fox news channel, at 8 00 p. M. Starting saturday night. A bombshell in the Michael Flynn case, the Justice Department is dropping its case against the former National Security advisor after internal memos raised questions about the investigation. The future of air travel still uncertain. Moments from now boeings ceo and president , dave calhoun will join me live, find out his take on the Airline Industry and the grounding of the max fleet and the huge bond deal they company just did. Mornings with maria is live right now. Global markets are higher this morning, take a look at the easing of trade tensions between the United States and china being looked at as a result of the call that happened, markets overseas are higher with the fq1 helfq100 up 82. German exports fell in the month of march, the steepest on record. The best performer was japan, the nikkei average was up 2 andahalf percent. Oil prices are also higher this morning. They are rising and the price of crude right now at 23. 95 a barrel, thats up 1 and three quarters percent. Joining the conversation this morning is dagen mcdowell, Joanie Courtney and stephen moore. Great to see everybody this morning. Good morning. Maria some of the top stories that we are watching this morning, more u. S. States will begin the first steps of the easing of stay at home restrictions, that begins today. In california youve got book stores, toy stores, Clothing Stores and florists reopening for curbside pickup, the governor allowing some computer and textile manufacturers to return to work in california. In michigan theyre extending the stay at home orders for two more weeks but Governor Whitmer says she is giving the goahead for automakers to go back to work on monday. The great smoky mountains, the nations most visited National Park will reopen tomorrow. A father and son in georgia charged with the murder oma of maud aubrey taken into custody overnight. They are accused of shooting and culling him while he was jogging. The arrests come after video shows mcmichaels confronted aubrey before he was shot. The video has gone viral. Amtrak and lyft requiring riders to wear face masks now. Lyft passengers will have to confirm they are wearing a mask through the app. Drivers are also required to cover their faces. And did you see the super moon last night . It was the last full super moon of 2020. This is my picture. Its called the super flower moon because this is the time of the year when flowers bloom. You are looking at pictures i posted on instagram last night. I was so happy to see this gorgeous moon. The next super moon, which is when a full moon is at its closest point to the earth, will be in april 2021. Beautiful shot. And the state of the Aviation Industry now, americans are worried about flying as airports and airlines are trying to keep people safe. Tsa announces Security Officers will be mandated to wear masks and major u. S. Airlines are asking passengers to do the same. There are worries for the commercial industry as well as manufacturers and suppliers. Joining me right now to talk about that is the president and ceo of boeing, David Calhoun. Good to have you this morning. Thanks so much for being here. Good to be here, maria. Maria want to talk about boeing and how you see things now after that enormous bond deal that you were able to raise so much money. First, give us an assessment of commercial airlines and the commercial air space right now. When would you expect things to pick up again, dave . Well, if i survey all of our customers and ill start here in the United States and of course we do, i probably speak with one or two of the leaders of our airlines every week, i think most of them are trying to dial in a return of about 30 to 50 by the end of this year. Theres a wide variation in that, a lots going to depend on how the public responds to the safety of an airplane cabin, et cetera. I think theyre reasonable confident that they ask begin to approach half of the schedule they had before. With respect to the longer term and the need for airplanes we have chosen a course that for three years we will slowly crawl back to the traffic levels that we had in 2019 and then it will take another two years to get back on the growth curve that of course the industrys enjoyed for almost two straight decades. Maria yeah. I mean, nobody is expecting air traffic to recover anytime soon, dave. When you look at the 2019 levels, is it fair to say youre not getting back there in terms of the 2019 levels until 2023, 2024 at the earliest . Yeah, i think we believe that it will take a full three years. The one wild card of course is if a vaccine is developed and widely distributed sometime between now and then, everything might change a bit and it might come back at a much more robust way. But no one can predict that. It would be foolish for us to predict that. This is the course we believe it right to plan for. Maria well, you came in here as ceo and youve got a plan for a lot. You came in, trying to fix the culture after the 737 max disaster and then you have a pandemic that you face. Obviously, you missed earnings expectations, as expected, given the environment there. But i want to ask you really about the broader impact here over the long term, dave, because youve come in, you havent delivered a max jet in over a year. Youve got so man runway. Then youve got a pandemic. Going into the pandemic you were flatfooted and your competitors are getting stronger. You see airbus and what theyre doing. Youve got the 737 max that you need to deal with and yet your competitors are preparing for when you get out of this. So are you worried how worried are you that youre going to be losing a lot of market share throughout this shutdown. When all is said and done you could lose market share big with airbus making smaller planes and continuing to deliver those and youve got the long haul, what youre good at, youre not going to see the need for those big twin engine planes Going International for some time. So going into this, you were flatfooted. Yeah, there is no question that the max problem, the accidents set us back and set us back for roughly two years, if you think about it. But remember that during those two years we produced a lot of airplanes. So with respect to market share, those planes will find their way into the market and there will be a catchup associated with that. We will not have given it up over a long period of time. My confidence in the max, my confidence in the airplane itself and the safety of the airplane is significant. I mean, i have always believed in the max. I still believe in it. The certification process that we have been going through with the faa, it has been constructive. It has been thorough. The documentation effort has been significant, probably has taken us longer than we imagined it would have and the virtual nature of the work now we have to go through with the faa adds a little time element to that. However, the airplane is in great shape. Its in good sted. The demand curve is going to move out a little bit for sure with the virus but im confident those airplanes will move out. Im confident we will start our line this month on the max again. So i do not feel in any way flatfooted with respect to competition. And our competitor of course in europe is facing the same scenario that we are with respect to the virus. So anyway, were maria the recertification competitors Going Forward. Maria the recertification of airplanes taking much longer, you built a lot of them. Did you build too many now that we see so many of them sitting on the runway and also dont you have to resize the business at this point given the realities that you face . How will do you that . Well, yes, so did we build too many . Of course, in retrospect i think all of us would say yes. On the other hand, that just means were going to build less Going Forward until we deplete that inventory and we have announced the adjustments that we plan to take with respect to production levels. So our max line, along with all of our lines, are going to decrease fairly significantly. We announced what that was. We told our supply chain what to expect over the next several years and weve announced and began to make the adjustment with respect to our footprint and of course our employment levels. We hate having to take those actions but we did have to take them because thats the market were going to see on the other end of this. So right now i believe were in pretty good order to do that and i might just say that when we did go out and asked investors to invest in the bond offering, they knew all of this and they saw exactly the level of adjustments that we plan to take and of course our faith in the future of our industry and of course boeing. Maria let me ask you about this huge bond deal and how youre going to use the money, dave. 25 billion in the market. Now, i know that you bought a lot of stock back in the last year, you pay a big dividend in an industry that is quite cyclical. So yes, youve got this huge successful bond deal that you did but as you resize the business, do you need to rethink the dividend at this point, where it is even today and do you need to rethink all of the buybacks that youve been doing . Well, i think probably as you know, we had suspended the dividend and will continue to suspend it. We will prioritize the payback of our debt instruments over anything with respect to return to share owners. Until we get back to the same kind of Balance Sheet we had before the virus and before the max, and then when we get to that level we will reconsider and think about how we return money to share owners and reestablishing our dividend and the authorization with respect to buybacks of course we withdrew and there will be no consideration for buybacks until were significantly paid down our debt. Maria and dave, real quick, let me ask you about the plant reopenings. You have opened back up one last month. I know that you are concerned about future orders with this standstill but youre also concerned about suppliers, right . Youve got 17,000 suppliers. Theyve been impacted. You need them to to be fired up when youre ready to be fired up again. How do you protect the suppliers while they are struggling in an environment where you cant really do much, given the commercial aerospace state of affairs . Well, yes, i think we do find we take serious responsibility for keeping our supply chain in good shape. That was the most important aspect of raising the kind of money that we did raise in the bond offering. We pay our suppliers current and we pay them every month and we place orders on them and they can build a robust business around that. Yes, we have taken the order book down and, yes, we have placed less orders on them. They will make similar adjustments that boeing has made with respect to their footprint. But we will do everything in our power to keep them in business and keep the money flowing to them. Roughly 70cents out of every dollar that we have to put into our cost structure goes to our supply chain. So were doing our very best to keep them alive and well. And with respect to suspensions, our own suspension, weve had some impact from the supply chain. Largely weve done it out of purely safety precaution for our own people. We are bringing everybody back to work, its going along and steady progress is being made and im confident theyre coming back to a safe environment. Maria all right. We all want travel to resume and of Course International travel as well, this seems like its way on the horizon. Dave, its great to see you this morning, David Calhoun, thank you for joining me, sir, we wish you the best. Well see you soon, sir. Thank you, maria. This is an athlete, twenty reps deep, sprinting past every leak in our softest, smoothest fabric. Shes confident, protected, her strength respected. Depend. The only thing stronger than us, is you. Shes confident, protected, her strength respected. I have the power to lower my blood sugar and a1c. Because i can still make my own insulin. And trulicity activates my body to release it like its supposed to. Once weekly trulicity is for type 2 diabetes. Its not insulin. It starts acting from the first dose. And it lowers risk of heart attack, stroke, or death in people with known Heart Disease or multiple risk factors. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. Dont take trulicity if youre allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. Stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, severe stomach pain, changes in vision, or diabetic retinopathy. Serious side effects may include pancreatitis. Taking trulicity with sulfonylurea or insulin raises low blood sugar risk. Side effects include nausea, diarrhea, vomiting, belly pain, and decreased appetite, which lead to dehydration and may worsen kidney problems. I have it within me to lower my a1c. Ask your doctor about trulicity. Maria welcome back. Jobs in america, investors are bracing for whats expected to be a brutal april jobs report this morning. The u. S. Economy expected to lose 22 million jobs in the month of april. The Unemployment Rate is expected to soar to a recordsetting 16 . Not only has the coronavirus wiped out the last 10 years of job gains, the report comes amid a chilling warning from jp morgans chief Investment Officer. He is predicting it will take 10 to 12 years for u. S. Employment to return to the prepandemic level, some stark predictions, dagen mcdowell. Dagen right. And ive heard economists say it will take years to get back to those employment levels. Thats one thing to watch for in this report. And by the way, the upper range of the losses for the last month is 35 million jobs. But watch and hear for how many people left the workforce, who just stopped looking for work. Because looking at the jobless claims that you saw in georgia, georgia, remember, lifted a lot of restrictions on businesses being open on april the 24th but their jobless claims are still running well above 200,000 per week. Theres a concern that these job losselosses and these bankruptc, the domino of bankruptcies in retail are causing a pullback in Consumer Spending and youll get another wave of layoffs later and another wave, something to keep an eye on. Maria yeah, its true. Joanie, talk to us about the industries that are still hiring despite the crisis. You say software developers, Sales Representatives are some of the top jobs right now. You also want to look at healthcare i think and technology which are two groups i mentioned yesterday. Yes, maria. You know, there is demand out there actually looking at some data around the job postings. And the top job postings right now are software developers, engineers, healthcare, Truck Drivers has really increased as well as registered nurses. So theres a lot happening with healthcare. But the biggest job losses certainly were going to see in the travel and leisure, in retail, but you nose what you know whats interesting about retail, when i look at the job postings you see that amazon has over 7,000 jobs and walmart, 8500 jobs. So there are retailers certainly that are hiring but theres so many that are laying off too. So really difficult time right now. Maria yes. Well take a break. When we come back, get your sports fix in again, the nfl releasing its schedule and we will bring it to you when we come back. The lord made me hard to handle. So [announcer] weve all seen it. The story where the chances are low, and the cost is high. The sacrifice is real. Its all around us. But this isnt a story about how tougher times beat us. This is our comeback story. The time when we rally and come from behind. The time when we defy the odds and get back to work while the whole world watches. Yeah, this is your comeback story. And when its time to come back, well be ready. Seeing the break in the clouds before anyone else. Together, well weather this storm. Daddy, i found you good job. Now im gonna stay here and you go hide. Watch your favorites from anywhere in the house with the Xfinity Stream app. Free with your xfinity service. Now any room can be a tv room. Stream live tv, on demand shows and movies, even your dvr recordings. Download the Xfinity Stream app today to stream the entertainment you love. Maria welcome back. Reopening america, businesses are turning to enhanced surveillance and tracking to keep their workers safe. Companies utilizing tools like mobile apps to track worker movements and thermal cameras to measure temperatures. But do these measures put worker privacy at risk . Joining us right now to talk about that is fox news senior judicial analyst, judge Andrew Napolitano. Judge, its like a creep, you Start Talking people tracking people, its a creep, its a creep, and next thing you know youre surveilling all your people. Correct. Next thing you know, youre violating fed statutes which require medical information to be private. There are apps that cannot only from a distance take your your temperature but measure your heartbeat and take your Blood Pressure. So youre right, it is a drip, drip, drip, drip, as to how far its going to go. Look, we all work in an environment where were using the Boss Software and the boss hardware so the boss can see what websites we look at. And see where we walk in the building. But how far do we want this to go . On the other hand, the boss has an obligation to provide a safe workplace. And if something as simple as a painless, touchless, digital thermometer, swiping your forehead when you enter the building is going to keep the workplace safe, i dont think the courts are going to interfere with that. Once you get to heart rate and Blood Pressure and god knows whatever else, thats going to require amending federal extra chutes and statutes and maybe judicial intervention. Maria yeah, i mean, you know, the environment that we are in right now requires some of this tracing and tracking, but, again, its how much you want to accept and welcome into your life. I mean, do you expect more surveillance and is that the greater tradeoff of privacy for safety, following a pandemic, judge . I think that most people when confronted with what were all living with now will opt for safety, even if safety is an illusion, even if its not real safety, the draconian measures for example here in new jersey of governor murphy, he has a 74 Approval Rating and people getting arrested for going to public parks. No longer, he opened up the parks last weekend but they had been getting arrested for that. The incident in dallas that was front page yesterday of the woman going to jail for seven days because she opened up her salon and used social distancing but refused to admit she was selfish. The public is beginning to accept that, much to my dismay because i think we still have a right to privacy because the constitution mandates it but this is virgin territory for the courts. The litigation thats going to be coming in the next months and years is novel and its hard to predict how its going to end. Maria yep, great points, judge, good to see you. Thanks so much. Have a great weekend. Judge Andrew Napolitano joining us there. Well keep watching this subject. Coming up, congressman doug collins is here to talk about general flynns case being dropped by the doj. And then dating in the age of coronavirus, what tinnedder is doing to enhance your online love life. Online love life, yes, you heard that right. Back in a minute. To everything, turn, turn, turn,. There is a season, turn, turn, turn. And a time to every which includes preservision. Because he said a multi vitamin alone may not be enough. And its my vision, my morning walk, my sunday drive, my grandsons beautiful face. Only preservision areds2 contains the exact nutrient formula recommended by the National Eye Institute to help reduce the risk of moderate to advanced amd progression. Its how i see my life. Because its my vision. Preservision. Maria welcome back. Good friday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is jobs day, friday, may 8th. Your top stories right now. The april jobs report is due out in about an hour. Economists are expecting a historic loss of jobs, 22 million jobs and the Unemployment Rate sky projec skg to 16 theres the month of april. Markets are pointing to a higher opening, dow up 242, s p up 30 and nasdaq higher by 93, on top of markets ending in the green yesterday. The dow was up 211 at the close, nasdaq up 125 and s p was up 32. The nasdaq by the way now positive for the year. Global markets this morning also with a firmer tone. The easing of trade tensions between the United States and china helping markets overseas. The fq100 up 82, cac up 35, dax index up 125, treasury secretary Steven Mnuchin was on a call with lou ha from china and they say they are making progress. In asia overnight it was green across the board, japan did best and the nikkei average overnight showing a gain of 2 andahalf percent on the nikkei average. As you can see, the hang seng in hong kong up better than 1 . The tax filing deadline could be extended once again. Cheryl casone with the details there. Cheryl, it started april 15th, went to july 15th. Now were talking about the fall. Cheryl we are talking about the fall, thats right. The white house reportedly is considering a september extension. President trump weighed in yesterday. We could do things through executive order or otherwise that could help a lot of people, as an example, like delays. We can do delays of various filings. And i could see that happening. Cheryl yeah, the deadline had already been pushed back to jul. Its unclear if this extension would only include federal income taxes. Remember, youve got to file your federal and your state. Well, the nfl has released its schedule for 2020. Its still going to run 17 weeks and its expected to end as usual with the super bowl on sunday, february 7th, 2021. There had been rumors it might have been near christmas. Commissioner Roger Goodell says hes ready to make any changes for the games due to the coronavirus pandemic and nfl teams posted tweets on social media and fun videos about thems will host the texans on september 10th. Preseason could be interesting to watch too. A look at whats trending this morning on foxbusiness. Com. Frontier to implement temperature checks and the tsa tells its employees to wear masks at checkpoints. Tinder adding a video chat feature as Coronavirus Forces more online dating, well, virtually online. And here is where you can play golf this weekend, vermont, massachusetts and maryland the latest states to lift restrictions. So a little bit of golf, a little bit of dating, a little bit of life. [ laughter ] maria i like it. Thank you, cheryl. Cheryl you bet. Maria a stunning move by the Justice Department, the doj dropping its case against general Michael Flynn. President trumps first National Security advisor. Flynn pled guilty to lying to the fbi about is contacts with ambassadors to the United States. President trump hailed the move as a victory for justice. Its treason. Its treason. So im very happy for general flynn. He was a great warrior and he still is a great warrior, hes an even greater warrior. What happened to him should never happen again. Maria the dojs about face came after internal memos were released raising questions about the investigation into flynn. Joining us this morning is congressman dug collins. Doug collins. First, your reaction on the charges being dropped against general flynn. Its about time. Its a great discussion, something we talked about for the last number of years, also in the last week. Finally showing after someone gets in and bill barr is the adult in the room, the attorney general, saying were not going to have a department of justice or fbi that is run by a corrupt kabal of thugs who didnt like the candidate and didnt want him as a president are not going to get away with whatever they want to do. The filing yesterday in court was stunning the things that they were admitting to, to strzok and page talking about it, from comey saying were going to do this anyway. It goes to show that these who portrayed themselves to be superheros, protecting america, were actually a bunch of folks who just said we dont like the political planne planned scape landscape and we know better than everybody else. Maria they didnt care that 53 million americans voted for donald trump and they wanted him out. That becomes clear of the release of the transcripts. It found no evidence of collusion which we knew already. Top Obama Administration officials are saying they had no proof the Trump Campaign was working with russia. Former director of National Intelligence James Clapper in the records saying i never saw any direct empirical evidence. Susan rice, i dont recall any intelligence or any evidence. And former un ambassador, susan power, quote, i am not in possession of anything. Congressman, they didnt have any evidence of any collusion between donald trump and his campaign and the russians in may of 2017 when they named Robert Mueller a special counsel to investigate that, when they knew there was nothing there. But they just wanted to keep it going. Well, they wanted to keep it going. The three you names, however, whats really disturbing, clapper, powers and rice, they were willing cheerleaders on the side, going on talk shows and news shows and sniping at the Trump Administration, implying there was something wrong. If you remember, they gave no break, having nothing there, they could use their willing lackeys and comey, strzok and page to continue and mccabe, to continue the process. Its devastating. When you have attorney general sessions at the time recuse himself, the kabal was running the asylum at the time and it just showed up and this is something that can happen. If it can happen to flynn, it can happen to the candidate donald trump, it can happen to president donald trump, what about you and me, maria, what about a group that gets together. We have to make sure that attorney general barr is doing the things he can and Christopher Wray he does or doesnt, he needs to make sure this can never happen again. The Obama Administration its been reported, that president obama at the time seemed to be obsessed with general flynn. He had his on issues with him but yet was consistently knowing things that was going on. This is a bigger story that keeps getting worse for these who proclaim to be saviors of america, they were actually detractors to our very democracy. Maria im really glad you mentioned president obama because within these documents we learn that it was obama who first brought up the logan act, which was the act that is never used to prosecute anyone or very rarely in the history of our country and here they were trying to corner general flynn for talking to somebody who he was about to have relations with anyway because he was the nsa for donald trump. He was actually a sitting National Security advisor. Sitting when they had that interview in january of 2017. So whats your reaction to what jim comey did yesterday . I saw that you replied to him on twitter. Hes over there putting a tweet out saying that the doj has lost its way. Is he losing his mind . I dont know what jim comeys problem is. I think hes having his whole world unravel because the nice tale hes trying to tell, putting out tweets, looking at trees, being the philosophical voice of reason and its becoming unwound. We see jim comey for who he is, a nayhe likes the lime light, ls being interviewed. Last year he sort of laughed at oh, i knew i could take advantage of it because the administration was transitioning and they wouldnt stop me. Were finding out he went against the advice of the department of justice saying they need to notify the white house about the interviews and he chose not to do it. He basically said theyre already on the way. Its just sad that somebody that the media can pick up on who was credible at one point in his career has lost all credibility for those of us who believe that justice ought to be blind, be fairly treated, and when we see a sitting president and candidate at the time it makes us sit back and say what can we do to make sure this doesnt happen again and make sure changes are actually followed through on. Maria yeah, and youre talking about the fisa changes and youve been very involved in that. What about the domino effect . Do you think this is the first domino to fall and will there be others . People want accountability. We know what that kabal did. It wasnt just general flynn, it was also trying to entrap a sitting president despite the fact that half the country voted for him. Im talking about jim comey, Andrew Mccabe, lisa page and peter strzok. How about john brennan, john brennan, performer head of the cia ran around on tv regularly for three years and said that President Trump committed treason which was exactly in fact what the kabal was doing, not President Trump. Well, i mean, if you look at it, if you dont want anybody to look at what your problems are you try to shine a light somewhere else and get people distracted. A thats what was happening with bebrennan and the rest of them. I think this is the first step of what weve been waiting for. Weve talked about this for a long time where is the accountability coming. Its starting. Were seeing it now. Theres no way strzok, page and mccabe and comey can sit in any kind of right space and even with the comments yesterday and say we were just doing our job. They were having a political vendetta against the president and then candidate before then and they bungled if Hillary Clinton email investigation. Its just a collapsing tent here with them. So i do believe now that hopefully were going to see even more from durham. I think hes been patiently building the case. Were going to see what happens there. This is a change in the department of justice, thats actually doing justice instead of having to sit back and watch what was happening. Maria congressman, thank you. Great insights from you as always. We appreciate your time this morning. Thanks so much. Have a great friday. Maria and to you. Congressmanding come lines join congressman doug collins joining us. Tune in tomorrow night at 7 00 p. M. Eastern for fox nation presents america versus china. Ill take a closer look at chinas play for World Domination in this special report. Do join us on fox business. Catch the show of the directors cut on fox nation on sunday night, dont miss it. America versus china. Coming up, a triple digit gain expected at the opening of trading this morning ahead of the april jobs report. Were watching markets when we come right back. Stay with us. Everything that i need. And nothing that i dont. Its time for the Memorial Day Sale on the sleep number 360 smart bed. Can it help keep me asleep . Absolutely, it senses your movements and automatically adjusts to keep you both comfortable. And now, save 1,000 on the sleep number 360 special Edition Smart bed, now only 1,799. Only for a limited time. Maria welcome back. Markets are higher this morning, futures indicating a gain at the start of trading ahead of the crucial april jobs report this morning. Investors are awaiting last months employment numbers, out at 8 30 a. M. Eastern. The u. S. Economy projected to have lost as unprecedented 22 million jobs in the month of april with the Unemployment Rate hitting 16 . This report is expected to show the full impact of the covid19 pandemic. Joining us right now is 32 advisors founder and ceo and Fox News Contributor robert wolf. Great to see you. Thank you for joining us. Your anticipation of the big jobs report and when you believe things might normalize again. Maria, thanks for having me on. Your r interview with the boeing ceo was really i think credible because incredible because hes talking about three years before a real comeback which i thought was quite interesting. You know, maria, you and i have been talking for a long time on this and recall in 2010, in february 2010, we were shocked when we saw double digits at around 10 . What you and i spoke about back then was the. U6 number. The number everyone will talk about is the u3 number which is at 16 . During the tough times of a recession, we look at the u6 number, most of us. That includes those that are disoccurrindiscouraged, unemplod underemployed. The u3 number which youre saying is around 16 . So you could actually see what we would say the real unemployment number is actually closer to 25 . Which includes underemployed, discouraged workers and unemployed. Just think about that. Were talking about the Great Depression type numbers, north of 100 years ago. That being said, this is a real technical recession. Right. It all happened on march 1st. The whole debate is the recovery. And what im starting to go to, i always started to think about this being a v or u shaped, is this new formation, its an an escalator down, and i think it will be a stairwell move up. We will see it ray testify moves up with the reopenings. It wont be a straight shot. Its going to be winners and losers. For a decade we talked about the shared economy, you and i and dagen an steve, airbnb and uber and lyft and the shared economy. Well, the shared economy is getting hit hard and were now going to this digital economy, right, where everything is netflix and amazon shopping and so we dont know what this paradigm shift is going to do to us. Maria well, robert, let me ask you, because i know that you are a supporter of joe biden. Does he have a plan to get us out of this . What is the best plan. Youve been in business for a long time. What do you believe is going to work to get people back to work and get this economy normalizing again and whats joe bidens plan . Well, i appreciate it. I dont exactly know joes plan because i havent been involved with his Economic Team in any real discussions but my plan would be, one, we have to continue to get Small Businesses back going again. I. E. , we have to get wage and credit continuity. Equally where i would agree with steve moore, we probably have a different approach to get there, we have to get the consumer back. Our countrys driven 70 plus percent by the consumer. So its great that a restaurants opening or retail store you can pick up and get a delivery, but the question is are consumers going back and shopping again . Are they going back into an event . I heard cheryl talk about the nfl. Are people going to watch live and are we going to go back to that entertainment and thats where the recovery concerns me the most. Maria it could take a while. Yeah, and youre right, what dave calhoun said about travel not coming back for three years was stunning. Robert, good to see you this morning. Thank you, sir. We will see you soon and well keep watching the reopenings that are have a great weekend, robert. Coming up, all eyes on china. Officials looking to strengthen trade cooperation. We will tell you about a phone call that took place between lighlighthizer, mnuchin and loua when we come back. Bright dawn our country has endured. It has seen the break in the clouds before anyone else. For the past 168 years, weve also stood by you, helping you weather storms like this one, to protect your loved ones. And well do it for 168 more. Maria welcome back. All eyes on china, trade talks on track apparently despite heightened tensions due to the coronavirus pandemic. Breaking overnight, top u. S. And china trade Officials Health a phone call to implement the phase one trade deal with both sides apparently agreeing to meet their obligations and the agreed upon deal in january is apparently making progress. This comes as House Minority leader Kevin Mccarthy announced the formation of a China Task Force to examine chinas role in the handling of the coronavirus as well as the influence on the United States. Mccarthy spoke out about it yesterday. They will be looking at a wide range of china related issues including influence operations targeting the u. S. Including our universities, think tanks and media outlets. Economic threats to our government and our allies. Maria there are a lot of issues around this, dagen mcdowell. Weve been talking about it. Your reaction to this new task force . Dagen i think its important to stay to push forward on what weve done with china, what weve been able to accomplish, but, maria, i think the bigger question for so many americans, knowing that this virus started in china and just the abuses that weve that youve listed for years and years of what are we going to do about it, are we going to move our production back here to the United States which is so critical, as you pointed out, particularly with our healthcare supplies, the active ingredients in the vast majority of pharmaceuticals, all of this, you just need to have a push, a push, a push, americans are going to demand it. Maria i want to also mention what ive been talking about now for a couple of months and that is the thrift fund that 500 billion fund which the managers of the fund want to invest 10 of it, 60 billion into Chinese Companies as part of the msci index. Yesterday, the white house named three nominees for the federal retirement thrift investment board. The president is considering blocking vast amounts of money going into Chinese Companies as anger mounts about this. So its important to recognize hes actually making a change on that thrift fund. The money is invested in companies that are making weaponry for the chinese military. When we come back, were all over the april jobs report out in 30 minutes time, our Team Coverage begins. We have all hands on deck on jobs and where the opportunities are in the reopening of the economy, next as mornings with maria continues. So we can spend a bit now, knowing were prepared for the future. Surprise we renovated the guest room, so you can live with us. Oooh, well. Im good at my condo. Oh. I love her condo. Nana throws the best parties. Well planned, well invested, well protected. Voya. Be confident to and through retirement. Some Companies Still have hr stuck between employeesentering data. A. Changing data. More and more sensitive, personal data. And it doesnt just drag hr down. It drags the entire business down with inefficiency, errors and waste. Its ridiculous. So ridiculous. With paycom, employees enter and manage their own data in a single, easy to use software. Visit paycom. Com, and schedule your demo today. Maria welcome back, good friday morning. It is jobs friday, may 8. Closer look on jobs in america. The jobs report due out in minutes time. Historic loss of jobs, 22 million jobs, Unemployment Rate to skyrocket to 16 as the coronavirus shuts down businesses across america. Our special coverage begins right now this morning on jobs. Ahead of the numbers, futures are pointing to higher opening this morning on pace for winning week. Dow industrials up 216 points, almost 1 . S p is up 26 and all the averages up about 1 right now going into the jobs numbers. This after a rally yesterday all the indices ending higher with the dow up 211 yesterday at 4 00 oclock, the nasdaq was up 125 and s p was up 32. In fact, the nasdaq is now positive for 2020. They say theres progress being made. Even as tensions remain over chinas handling of the coronavirus. For more on china tune this weekend on fox business tomorrow night our special presentation at 7 00 p. M. Eastern fox nation presents america versus china where im taking a closer look at chinas play for world nomination. Dont miss our special report this weekend. Be sure to catch the directors cut on fox nation sunday night this weekend on fox nation available 10 00 p. M. Bombshell in Michael Flynn case, dropped case against former National Security adviser after internal memos raised serious questions about the investigation as you knew it was coming. Mornings with maria is live right now. Global markets are higher ahead of the jobs number this morning, easing of trade tensions between the United States and china helping markets overseas, investors like the fact that there was Good Progress reportedly made on the phone call on phase 1 of the trade deal. European indices higher, cac quarante up 37, dax index in germany up 103 points despite the fact that german exports were down nearly 12 in the month of march. That was the steepest decline on record, that Economic Data coming at this morning in germany. In ash overnight, green across the board. Take a look at the numbers. Best performer was japan, nikkei up 2 and a half percent overnight. Joining this conversation morning dagen mcdowell, Joanie Courtney and stephen moore, great to see everybody, we are seeing the jobs numbers out. Steve moore, your reaction and anticipation in of that number . Steve well, i think the data is going to be very depressing, but the good news is because of the reopening, maria, we are actually starting to see employers hire again and to me the most important thing is how steep will that curve be over the next few weeks and months in terms of reopenings and rehiring of workers. Thats what i think the reason the market is up even though the job numbers are down, remember, this report looking back 2 or 3 weeks ago. The world has change a lot since then. Maria the next couple of weeks would be critical to understand what the reopenings mean for gdp and economy. 33 of the gdp in america. Some of the top stories that we are watching this morning, more u. S. Steps to begin easing stay at home restrictions. In california bookstores, Clothing Stores and florists can reopen for curbside pickup. The governor is also allowing some computer and textile manufacturers to return to work. Meanwhile in michigan, michigan extending stay at home order for 2 more weeks but Governor Whitmer has given the go ahead to return monday. National park will reopen tomorrow. A lot of reopings happening. Taxfiling deadline could be extended again. President trump weighed in on this yesterday. We could do things and yet i could see that happening. Maria the white house reportedly considering a september extension. The deadline was already pushed back from april 15th to july 15th due to pandemic. Hydroxychloroquine does not appear to help people with covid19 according to new study. This finding that patients who received the drug had same risk of intubation and death as patient who is did not receive it. Researchers are tracking nearly 1400 patients in hospitals in new york city. Findings after 2 weeks that the fda could be linked to serious heart problems. We will be watching that. Covid19 crisis forcing Neiman Marcus to file bankruptcy protection, second major retailer to seek chapter 11 after j. Crew filed for bankruptcy this week. 625 million from creditors to fund operation. And, of course, the Justice Department dropping case against general Michael Flynn. The move coming days after leaked internal fbi memo that agents got lynn to lie. President trump spoke out about general flynn yesterday at the white house. Its treason, its treason, so im very happy for general flynn. He was a great warrior and still a great warrior and now in my book hes an even greater warrior. What happened to him should never happen again. Maria dagen mcdowell, attorney general bill barr had comments about this yesterday and he said they think the very important evidence here was that this was not a bonafide counterintelligence investigation, they were closing the investigation in december, they started the process to close it and peter strzok said, no, no, keep it going. At that point they had no evidence of collusion and knew what was on the Sergey Kislyak call. Even after the meeting they talked to each other and said we dont think he lied. This is general flynn timeline. It goes all the way to 2014, dagen, when the Obama Administration had turned against flynn and theres some questionable things here that was invited to a dinner in moscow and they sat him next to putin. That was december of 2015 and because he was sitting next to putin and that was another thing that they thought was curious when they were investigating. Dagen its just astonishing, maria, youve been on this and the entire russia collusion con, if you will, from day one, but its astonishing that this could happen, that you could have people within our government, within the highest levels of Law Enforcement target not just an individual but an entire president ial campaign and get away with this. Maria yeah, i said this from the beginning. This is the biggest political scandal of our time and we are now actually seeing the evidence of that. Joining me right now former federal prosecutor Fox News Contributor andrew mccarthy. Andy, good to have you this morning, your reaction to what we learned, just stunning. Andrew it is stunning. Im always happy when justice does justice even though its long overdue. Im glad that the right thing was finally done. I dont think you can ever make general flynn whole for everything thats happened to him over the last 3 years but certainly the right results but i think to the point that dagen just made, this is the thing i think that frightens people or should frighten people. He was the National Security adviser and if Something Like this can happen to him, i think number 1, the normal person thinks, oh, my goodness, what can they do to me if they do it to him and as someone who has been attracted to the story mainly because im a National Security guy, i mean, im interested in elections and the history of what happened here and all that stuff, what i fear is that these powers, counterintelligence powers are vital to protecting the United States against things like terrorist attacks and if weve gotten to a point where we feel like we cannot trust the government to wheel them justly and legitimately, we cant protect the country and thats the catastrophe here. Maria thats exactly right. And the fact is that they used the tools that we used on terrorists, they use the terrorists, informants running into campaign people, wiretapping, leaks, lies and the unfortunate thing about it now we know many fbi sources and methods, they do use hundred pots and they use money to drop in peoples lives and use informants to get people to lie and these should not be public but they are, general bill attorney general bill barr commented on the decision, andy, take a listen to this. A crime cannot be established here. They did not have a basis for a counterintelligence investigation against flynn at that stage. I think its sad that nowadays these partisan feelings are so strong that people have lost nay sense of justice. Maria and yet, andy, did you see the tweets that jim comey put out yet. Do you see how Andrew Mccabe is dealing with this . How whats do you make of the pushback from the very people who led this wrongdoing . Andrew yeah, lack of selfawareness is big problem, probably big factor in why we are where we are at this point and i would just in pleading with those guys to look within a little bit i would point out that the most damming evidence against the investigators in this case has come from theappointed Inspector General and if you read the papers that the Justice Department filed yesterday, they demonstrate that the obama, the top officials of the obama Justice Department and the Obama Intelligence Community were here pushing against what the fbi wanted to do in terms of handling the flynn case, so i think when you look at this in a broader way, this is not just a trump Justice Department thing or a Trumpwhite House thing, this is a much greater problem. Maria do you think this goes all the way up to Obama Administration in terms of coup to take donald trump down . Andrew i think we have to see how the durham investigation comes out. You look at the papers they filed yesterday theres evidence that cuts in both directions on that. I really think that we need to see the outcome of this. Maria okay. Andy, good to have you this morning, thanks so much. Andrew mccarthy joining us, federal prosecutor. Coming markets pointing up ahead of jobs report for the months of april, out in 20minutes time. Markets are up in the triple digits, stay with us. For smarter trading decisions. Fidelity. When you own 1,000 acres, your wway to the horizon. Ll the you need the fast, durable kubota sidekick. Get the sidekick now for as low as 10,649, plus zero down and 3. 99 percent apr for 60 months. Maria welcome back, investors are bracing for a devastating jobs report for the month of april. Economists are expecting the u. S. Economy to have lost an unprecedented 22 million jobs in the month of april with Unemployment Rate roaring to recordsetting 16 . Markets reacting positively to news overnight that u. S. And china have made progress on thats phase 1 trade deal. Joining us Joanie Courtney reactions trading up even in the face of horrible news that we are about to get in 15 minutes on jobs. Joanie when you look at markets you think we hit the bottom and i would like to share insights for you and your viewers because we are usually a good barometer of when we are going into the recession and when we are getting out of a recession. Normally its a longer period of time. I can tell you that the American Staffing association put out an index, did show the week of april 6th hit a historic low was down almost 35 from the previous period last year, however, there seems to be a feeling from staffing agencies across the country that maybe we kind of hit the bottom and we are starting to see the States Reopening, the employers will start to hire back, so theres some optimism. Its going to be slow. No one is expecting it to grow quickly but i think thats what we are seeing also in the market s. Maria and in terms of opportunities right now, do you see these reopenings leading to any Job Opportunities over the near term . Joanie well, its interesting right now in my business, im also the president of a business and we are having Strong Demand across the country, people that would be screening as these Companies Start to reopen, so my team is doing a phenomenal job working with Companies Across the country in getting that stood up so theres new jobs, really, that were not as in demand but if you look at other industries, you know, i think certainly we are going to see that health care will come back, we had all of the nonessential healthcare jobs have really been hit very hard, they are starting to reopen, you are seeing dentists an doctors come back and open their practices again, engineering, software, cybersecurity, all of those types of jobs are going to really be in demand. I think its travel and leisure, hospitality thats going to be hit the hardest. Maria yeah, those are the ones that will tougher. Short break, when we come back minutes away from the april jobs report, stay with us. We have a market thats up in the triple digits. We are breaking down everything that you need to know on jobs want to brain better . Unlike ordinary memory supplements neuriva has clinically proven ingredients that fuel 5 indicators of brain performance. Memory, focus, accuracy, learning, and concentration. Try neuriva for 30 days and see the difference. Can it help keep me asleep . Day sale on the sleep number 360 smart bed. Absolutely, it senses your movements and automatically adjusts to keep you both comfortable. And now, save 1,000 on the sleep number 360 special Edition Smart bed, now only 1,799. Only for a limited time. Swithout even on yoleaving your house. Just keep your phone and switch to xfinity mobile. You can get it by ordering a free sim card online. 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Maria jon hilsenrath, your thoughts as we await these numbers, what are you going to be most interested in looking at . Jon im going to repeat what john lonski just said, the numbers are historic tragic, catastrophic, how many people are out of work right now, but i think a lot of people are going to look at the numbers today. We have to turn the economy back on and the social distancing and theres challenging things like [inaudible] maria jon, we are losing you. You are going in and out. Let me fix your microphone for a second, jon, we will get back to you. Dagen mcdowell, we are waiting for numbers and no minutes to waste here because we are talking about 16 Unemployment Rate, dagen, we knew this was coming because of the jobless claims that we have been getting every week. Dagen its heartbreaking for all of the people who have lost their jobs for the millions and millions of americans, you have roughly 1 out of 5 people in the workforce who are out of work and it happened overnight and our hearts break for them and thats why we are so focused on reopening the economy. Maria yeah, we want to also point out that i spoke with the ceo of boeing earlier, David Calhoun and i asked him about travel, he said theyre not expecting commercial travel to come back to 2019 levels for at least 3 years. So we talked about 2023, that was a stark prediction from dave calhoun. We will take a break. When we come back we have the april jobs report right after this. So. Lets talk. Edward jones. Its time for investing to feel individual. Sprinting past every leak in our softest, smoothest fabric. Shes confident, protected, her strength respected. Depend. The only thing stronger than us, is you. Maria welcome back, good friday morning, everybody, thank you so much for joining us. Im maria bartiromo, and it is jobs friday may eighth, 8 28 a. M. On the east coast. We are waiting on the impact the coronavirus is having on jobs in america, the report due out any minute. Economists are expecting historic loss of 22 million jobs for the month of april with Unemployment Rates skyrocketing to 16 as businesses shut down across america. We will have the numbers momentarily. Ahead of the report futures are pointing to tripledigit gain at the start of trading. Lets talk with Eric Freedman as part of the panel. Eric, you as the u. S. Bank Wealth Management chief Investment Officer has to allocate capital, can you explain the market rallying in the face of such a disappointing jobs report coming up . Eric maria, good morning, thanks for having me on. 35 trading days is about right. March 23rd lows and i think the investors have to keep in mind is that this is an economy that has boost behind it in the up upcoming months and the data will be awful but we think its a temporary setback as opposed to longterm one. We think thats why markets remain optimistic as this being more of a temporary setback than a permanent one. Maria and steve moore, we think its temporary because we are already seeing some states open, 25 States Reopening, thats about 33 of the gdp this weekend. Steve thats the story of the week, actually, states are reopening faster than we thought they would. Youre seeing the red states of the south and some of the mountain states and a few of the farm states like nebraska, iowa and then georgia and texas and tennessee. The problem is going where you see job losses, tri state area, new york, connecticut, new jersey and some also in michigan and pennsylvania which are really hurting now. Theyve got to reopen the economies. Maria yeah, there are other economies like wyoming, north dakota that are really looking at tourism, looking at agriculture as more central to their economic openings and so maybe they will open easier than some of those areas that you just mentioned. Its 8 30 a. M. In new york, we are waiting for the jobs report, lets wait for Cheryl Casone, she has the numbers. Cheryl better than expected on the actual job losses, a loss 20. 5 million jobs. The Unemployment Rate 14. 4 , better than estimate that is we saw for 16 . 22. 8, thats better than what i thought i was going to see. I was thinking i would see 30 . We really we wanted to look, disparaged, job seekers, part time workers, the fringe worker, if you will, we are also looking at underemployment rate 22. 8 . Thats very key. Government jobs, loss of 980,000 versus just a loss of 28,000 in the month of march. Factory jobs down 1. 33 million, april factory jobs 1. 33 million, looking at futures jumping right now, maria, private sector jobs, loss of 19. 5 million, the private payroll, thats better than expected. The private payroll estimate was 21 million, so thats a little bit better than what we expected to see, again, 14. 7 Unemployment Rate in this country, either way you slice the numbers and they are better than expected, maria, this is a new record since the government started keeping track of the numbers back in 1948. I had seen estimates that we had under 24 back in the 30s. These are the numbers that we are getting, factory jobs 1. 3 million, private sector 19. 9 million and, again, better than expected on both lines here for nonfarm payroll, we are looking at an extension of the futures market. Going through the numbers. Back over to you for reaction. Maria cheryl, nice work there. Nice work bringing factory work where layoffs are happening in manufacturing as well as leisure. Steve moore, your reaction to this. Steve you get an opportunity to actually come in better than expected even though the numbers are dreadful, 20. 5 million jobs lost. Unemployment 14. 7 but i guess it could have been a lot worse, steve. Steve what a world we live in, just a couple of quick thoughts, i think the most important thing that investors have to be looking at is how fast these jobs will come back, look, we knew we were going to lose whole tens of millions of jobs when we shut down the economy. The question that we all have to ask will the factories come back. Will those retail jobs come back, will Shopping Centers be bulldozer or see come back in the months ahead and when will it happen . Im predicting that its going to be a horrible summer, it is going to be u shape by the end of the summer and early fall we will see job numbers come back in a healthy way. Maria that will be a domestic economic story because we are not expecting international to travel to come back any time soon. Earlier i spoke with ceo and president of boeing and he said hes not expecting travel numbers to get back to 2019 levels for 3 years. Thats their modeling, 3 years. Lets look through headlines, dagen mcdowell, Labor Participation rate at 60. 2 for the month of april. Jobless 14. 7 , dagen. Dagen the numbers are devastating across the board and youve seen in recent days even and is the worse behind us, you still see a lot of businesses still laying people off to name a few, United Airlines at mgm, general electric, people talking about possible cuts, airbnb, i think it was steve talking about the kind of gig economy and how thats been upended. Airbnb, 1900 people being layed off. Uber laying off 3700 and youre talking about the next wave and the next wave of layoffs potentially in the months to come where if Consumer Spending dramatically pulls back even as you see economies reopening and States Reopening, Consumer Spending pulls back because of say bankruptcies at a j. Crew or Nieman Marcus with more retail to come. Thats a knockon effect. Our economy functions on Multiplier Effect and it benefits people who work in a variety of industries, thats one of the greatest concerns that im hearing from just Business Owners and people who follow the economy, its about the waves of layoffs that could still be coming. Maria yeah, i mean, look, bottom line this was selfimposed. I do think things come back but its going to take a while and youre talking about 20. 5 million jobs gone in the month of april, john lonski, let me give you a comparison, 2 million jobs lost one month back in 1945. That was obviously at the end of world war ii. 2 million jobs lost in one month in 1945. This is 20 million. John this is a jobs report like no other. Its a historical significance but as noted earlier, this is not going to be something that becomes a recurring type of phenomena. The consequence of a National Health emergency, it is not the consequence of market forces. It was forced upon the u. S. Economy. I want to quickly add something if i may and that is that i look at the monthly change in average hourly earnings, it was up 4. 7 and thats telling me that the brunt of these job losses have been born by lower income americans. This will make the sadder because we had so much progress. In february as recently as february, the Unemployment Rate 3. 5 , that was a 50year low and now we are looking at the highest Unemployment Rate since perhaps the early 19 around 1940s. Its a sad situation. Maria yeah, youre right. You know, jon hilsenrath, we talked a lot when we were talking in the greatest economy any of us had seen in our lifetime. We were talking about the fact that income inequality was beginning to narrow and it was a really good story because you saw wage gains from the bottom even bigger wage gains in the bottom end of the spectrum in terms of the lower earners and that was a positive thing. You see this wage gains of 4. 7 , your reaction to what you heard from john . Jon i agree so much of what john lonski said, we have the rituals that we do on jobs friday, is this above expectations or below expectations. Throw all that out. These numbers are historically tragic. Two numbers that matter to me, 21 million jobs lost and unemployment when you count people left the workforce and people dont have a job of 22. 8 , more than 1 out of 5 people in this country wants to be working is not working right now. Its nothing short of a tragedy and what i worry about is that, you know, when this [inaudible] temporary layoff, furloughs, jobs that were supposed to come back and what we are starting to see temporary layoffs are becoming permanent. Some of the 21 million jobs are going to come back but getting them all back is going to quickly its going to take a long time. We have a tough road ahead. Maria well, this is why the republicans are having this conversation about compensation for people who are out of work right now. They dont want to pay people more to be home than they would be making at work because they feel that that will extend the crisis, extend the joblessness because people wont want to come back to work so Joanie Courtney give us your sense of people who are looking for work at employ bridge. Joanie we have seen increase in online applications, and as the jobs start to come back, theres interest. But as i mentioned before, we are also seeing that when the manufacturing plants are starting to open and we are working with our customers and they may need 50 people, you know, to start on a monday, we are having to schedule above that number and when we get to monday, we still dont have enough people showing up, so it is partly due to theyre making more money on unemployment and they are scared possibly about coming back to work, but i do think our government and secretary mnuchin really needs to think about cares act and how its impacting the workforce because you can see it in the hourly wages. Jon made an excellent point that hourly wages skyrocketed and that means that the people that lost the jobs were the low earners and now they are home and they are making more money on unemployment and they are not going to be motivated to come back to work. In addition, weve also seen that employers are starting to mask the money that are making money at home. Im had multiple employers, you know what, we will match what theyre making, lets get them back to work. This is really a problem and we need to address this. It really is a challenge. Maria no, thats what kevin brady was tells yesterday, Ranking Member of the gop, house ways and means committee, they are coming up with a plan to get people back to work and incentivize businesses to incentivize employees to come back. Dagen, your reaction to all of this. Dagen down the roads companies that kept people on the job, the very people who were out there stocking store shelves, running registers at Grocery Stores basically keeping this country, safe, healthy and fed. The companies that employ them will be forced to pay them more because i think it is deeply troubling really putting their health at risk in height of pandemic and virus who was making 40 hours times 15 an hour. 600 bucks which is extra amount of money that people were making on unemployment. I dont think its a problem one employment, i think it raises the issue that who showed up at work every day to keep us fed and safe are not getting paid enough and i know that thats a very liberal talking point but i think that theres going to be up rising in this country from people who risk their lives working in, say, meat packing plans, who are ensuring our safety that we are going to end up having to pay them more. Maria well, yeah. The democrats want to come up with a plan to pay out more unemployment, youre right. Not just for those people working like the people that youre describing but the people at home, thats what kevin brady said yesterday that hes trying to avoid because its going to extend the crisis. Edward lawrence has been covering this this jobs story all morning, he has more details right now. Youre digging through the report. What are you seeing right now, edward. Edward the numbers dont get any better, maria, when you go through this, black Unemployment Rate at 16. 7 , hispanic Unemployment Rate 18. 9 , asian unemployment 14. 5 and you look at some of the individual sectors, leisure and hospitality loss 7 million jobs, 7. 65 million jobs. Hospital, health care lost 2. 1 million jobs, manufacturing down 1. 3 million jobs, mining loss 46,000 jobs, retail down 2. 1 million jobs, construction losing 975,000 jobs but the numbers dont get better as you look as the deeper dive in this transportation and warehousing losing 584,000 jobs. These are numbers that we have not seen in a very long time but, again, you heard some of the guests there say this could be temporary with some of the stimulus thats in leisure and hospitality, for example, when cruise lines start going again and when he toles start opening up again. Some of the workers will come back to work but will all of the jobs come back to work, thats the question, thank you. Maria well, thats the thing, steve moore, your thoughts . Steve well, a couple of things. What can congress do now to actually get people back to work . This is why ive been advocate of payroll tax suspension. Dagen, with all due respect i think youre wrong. It will rewarded people who have been on the job and not on unemployment. That gives raise and reduces [ inaudible ] maria yeah. Im sorry, but your microphone is not doing it for us this morning. I hate to say that. I really want to hear what you have to say. But we are not hearing from you and its going in and out. Its not eric, let me ask you about your standpoint here. Youve got a market that is up 271 points right now on the Dow Jones Industrial average. Would you buy this market here . We would, maria. We think to be selective across sectors, tech, health care, are places where we think investors should remain. Also, we think there is a downside case if we do see a second and third wave tick up which we cant put past us from a Risk Management perspective, that owning longer issue treasuries, we think thats the way we should be positioned right here. Maria john lonski, got about a minute left. What do you want to see happen next couple weeks . Tell me how you approach this economy and market here. I want to see us become more confident about a flatter rise by the default rate, outstanding corporate debt. I want to see some sense that perhaps we will not see a surge of bankruptcies that will make matters worse for the u. S. Economy and as the previous guest just stated, i really want to see convincing progress at reducing covid19 risk. Maria all right. We will leave it there. Its been a great show. We got a market that right now is going to be trading up in about 30 minutes time. Dagen, joni, john, jon, eric, great show. Thank you so much. Have a fantastic weekend to all. From all of us here, happy mothers day, everyone. You are all my heroes. Have a great weekend. Varney Company Begins right now. Stu, right over to you. Stuart i will second that, maria, and good morning to you. Good morning, everyone. All right. Look, we knew it was going to be historic and it is. We are looking at the worst jobs report ever. In april, 20,500,000 jobs lost, gone. 20. 5 million. The Unemployment Rate spiked from just over 4 to 14. 7 . Lets dig a little deeper on this. Extraordinary numbers. 7. 7 million jobs lost in the very hardhit travel and leisure industries. 2. 1 million jobs lost in retailing. 2. 1 million, just in the Retailing Sector and probably more to