Something we have been spotlights for weeks now. Market this is morning look like this, future indicating a move at the start of of trading this morning, nasdaq and s p 500 closed losses, 4 00 oclock on wall street. Controversy over the Michael Flynn deepening, name of obama officials who requested unmasking of former National Security adviser declassified. Meanwhile President Trump crimes committed by then president obama are obvious. Plus elon musk driving down his own road defying stay at home orders and if anybody is arrested should be him. Thursday, my sitdown with President Trump, join us with the very latest on getting america back to work, additional stimulus, 2020 race and general flynn, obamagate, dont miss thursday morning 6 00 to 9 00 a. M. Eastern. Mornings with maria is life. Global markets this morning look like this. In europe mixed story, cac quarant down 14 and dax index in germany sup a fraction, spain is ordering a twoweek quarantine for Incoming International travelers. Move that will further impact tourist industry, certainly threat europe. In asia overnight red across the board. Chinas Consumer Price index came out, 3. 3 in the month of april, food prices sourced and all from that swine flu, remember, demand weakened across the globe. All the major indices lower in asia. Saudi aramco, the company says it see it is impact of the coronavirus weighing on earnings for the rest of 2020. Despite the drop, oil giant is sticking with its dividend and up almost 4 . The u. S. Prevailing in coronavirus testing. President trump touting the countrys success announcing that states will receive additional 11 billion in funding for testing. This major investment will ensure that america continues to conduct more tests than any country on earth by far. I said from the beginning that the federal government would back up the states and help them build their testing capability and capacities and thats exactly whats happened. Maria white house staff now required to wear masks and other factual coverings after two Staff Members tested positive for covid19. And then this, the Senate Holding a virtual hearing today on safely reopening the country amid the coronavirus pandemic. White House Task Force member dr. Anthony fauci said he would warn lawmakers that the country will rest needless suffering and death if it opens up too quickly. Chuck schumer urging to not hold back, let it rip. Dr. Fauci testifying remotely after entering modified quarantine. The head of cdc redfield and steven hahn to testify remotely this morning. Toyota sees revenue dropping 20 this fiscal year. Sales to fall near 9year low but Company Expects to rebound in next few months and return to 2019 levels next year according to management. Toyota started to reopen manufacturing in europe last month along with some production in north america. Well, market this is morning are flat. We are expecting a lower opening for major averages as investors remain cautious as reopening of the country too soon. Yesterday in mixed market, nasdaq saw highest close since january Technology Stocks carrying the s p 500, Leadership Groups in the market. Sean oh whateverra ohara and Jon Hilsenrath and forbes media chairman and former president ial candidate steve forbes, great to see everybody this morning. Your take on where we are interesting to see technology and health care skyrocket to alltime highs do so well in the market while the rest of the market sees uncertain in uncertain environment with the shutdown. Yeah, good morning, hope youre safe and sound. The narrative is going to reopen and everything will go back to normal and at some point they will run head on over the facts and we will find out the 33 million that lost their job will get their jobs back, we will find out what revenues look like and i suspect that over time theres going to be more real damage. I think the fed has done a terrific job and treasury has done terrific job supporting things. Nothing would be able to replace the jobs that they will return to and income they will earn but i suspect theres real lasting damage and perhaps at this point the market might be a little ahead of itself. Maria steve forbes. Steve shawn, talking about how well certain sectors of the markets are doing but is there a divide between wall street so to speak and main street, Small Businesses they are still struggling and in a few weeks aid will run out, a handful of companies are obviously doing well in the market but politically whats ramifications as Small Businesses are finding out that, yeah, may be opening up but theres not much revenue coming in . Sean regulation as you will as things reopen. We will tell restaurants they can only have 50 of their tables open, for example, its interesting question on the divide. Set up probably one of the key debate issues going into this election cycle which is, you know, do the big banks and do wall street, continue to do main street and i would hope as we go forward, whatever the next stimulus package it looks like it addresses that issue because Small Business is so critical to the economy, i think more than 90 of all businesses are Small Business and theyve been basically negatively affected here for no reason, nothing that they did on their own but essentially to stop the growth of the virus. Maria yeah, good point. Jon hilsenrath. Jon sean, you talk about two narratives and theres been a lot of talk about this in the market, main street narrative and wall street narrative. Im wondering about a third narrative which you hinted at which is a fed narrative, the fed is pumping so much money into it and can that continue into it and we had short expansion and so can that keep going as long as the fed is pumping things up . Sean well, certainly the fed has been support level of if this market. Signaling that the risks that people might not necessarily be there and they seem to be a buyer of assess and looks like they are going to continue. I think today is the first day that theyll be now going into the market and buying fixed income etfs, we have been concerned about, theres 41 of all corporate debt sits on the triple b line between Investment Grade and not Investment Grade. I dont think anything the fed buying program can do to stop the downgrades that are going to potentially going to happen, i think fixed income investors, theres been funds like floating rate funds and bang loan funds that have been sold or purchased because the yields were attractive. There could be some significant decline in value as we start to see some of these defaults increase and start to see only of the bankruptcy filings continue. Maria its such a narrow rally, i will point out that michael at Cornerstone Macro says 17 of the stocks are moving in average, pathetic number considering how far stock indices have rebounded. Do you see a change in sentiment, sean, where markets are worried about more about what will happen between trust and china than the worry over a partnership like, you know, the trade deal . For a long time the market was trading on every, you know, headline that came out of the trade deal but now its more about what will the u. S. Do to stop china from from interfering or stop china from bad behavior . Sawn its interesting, maria, we went up and forth on the news and as we look into the future and the relationship between the u. S. And china, based on system some of the statements coming coming from te house i think we will take a stand. Maria definitely a headline there that markets are watching closely. Dagen mcdowell jump in here. Dagen this is the divide between wall street and the inflation of asset prices that benefit the rich and investment banks and wall street by the Federal Reserve and the suffering across the country with literally almost 1 out of 4 americans who wont work, cant get either a job or enough hours. Ive been pointing out that divide for weeks, but, jon, that maybe Street Lending facility thats widely criticized by the wall street journal editorial page, is it doing anything, sit doing jack for people who need that money . Has the fed said anything about it . Jon thats still on the process of rolling it out and one of the more complicated programs that they have to do. Like the ppp program, this is one of the hardest things to get to because the fed has to work through banks and dagen, you talked a lot about the problems that banks particularly large banks have had getting money to Small Businesses because for a lot of the large banks Small Businesses arent their customers, a lot of the Smaller Banks that were serving Small Business and, you know, they lost market share in the last expansion. Maria yeah, good point. Sean, thank you so much for weighing in here. Sean ohara joining us there. Sean thank you. Maria jose is here on dining in covid19 world. Fox news senior strategic analyst retired general jack keane is here on countering the threat from beijing and the communist party. In 7 00 a. M. Hour north dakota senator Kevin Krammer and chief economist on recent moves of the Federal Reserve reality chairman and ceo on how your office space could be changing as people return to work and in the 8 00 a. M. Hour texas congressman Michael Mccaul on what lawmakers are doing to address threat from china. The new chairman of the committee on china. Heather walk us through supply chain worryies and Defense Industry and growing tensions with the communist party, dont miss it, we have a huge show coming up. Back in a minute with all of that. Maria welcome back, declassified acting director of National IntelligenceRichard Grenell declassifying a list of obama officials allegedly revealing Michael Flynns identity amid conversations with then Russian Ambassador to the United StatesSergey KislyakPresident Trump touting efforts yesterday indicating that this is a tip of the iceberg when it comes to the Obama Administrations corruption. Obamagate has been goingen on for a long time. Its been going on before i got elected and its a disgrace and as you look all of the information thats being released and from what i understand thats only the beginning. Maria joining mel right now the Senior Editor of the federalist christopher bedford, chris, good to see you this morning, thanks so much for being here. Its been a long time, a lot of years that the public has been up in arms about this and now we are finally getting to the truth, your reaction to all that has come out in the last 2 weeks . Chris its absolutely unbelievable and could have kept the federalist with headlines given to us by the department of justice releasing the transcripts and releasing actual hard information. Weve talked for years in this show, maria, about how difficult it is to get to the bottom of this because theres selective leaks on both sides of this and we almost never get to the actual original documents. Well, here we actually have the transcripts and it looks looks very bad for the president and implicates the president including Vice President joe biden being in the room and making decisions to essentially sabotage the incoming administration. Maria and when you look at the timeline of how things played out on january 4th of 2017 they decided to close the investigation of Michael Flynn, they couldnt find anything, there was no collusion. Later that day same afternoon peter strzok calls up his friend and says, dont close it, the very next day january 5, 2017 you have a meeting in the oval office led by president obama where the logan act is brought up so its pretty clear that they were scrambling to find some evidence of collusion between the Trump Campaign and russia. They couldnt so they pull out the logan act, lets try to get him on that, lets try to get him on something else. Lets get him to lie. Michael flynns personal attorney sidney powell, she told me on sunday morning futures that the push to go after flynn went all the way up to the top to obama. Watch this. So whole thing was orchestrated and set up within the fbi, clapper, brennan and the oval office meeting, president obama. Maria so you think this goes all the way to the top to president obama . Absolutely. Maria and that sort of kicked off a new conversation and now obamagate is trending, chris, do you think the former president is going to speak out about this . Chris i find it very doubtful. Itll be unlikely that anyone ever asks him the questions or hell allow to interview him. He can stay quiet and stay in hiding and i dont think anyone would go after that president. More likely its unfortunately the footnote in history when it should be a major asterisk to Barack Obamas name. People might be wondering why did he go after flynn, why would the Obama Administration go off flynn, because hes counterintelligence official, someone overseeing aspects of russian collusion allegations, first person in the way, the next person in the way was attorney general jeff sessions. They took him out right after. Maria the federalist wrote i piece, why did obama tell the fbi to hide activities from trump. We know that from the notes that he was basically questioning, well, make sure you assess what to share with the incoming information and that was in the notes certainly susan rice we saw her notes as well. Chris, all i could say more will be revealed and we we will we watching. Good to see you. Chris fortunately youre right. Maria Chris Bedford from the federalist, jampacked program, wait till you hear about then thrift fund. We will be right back. Today. And always. Youre clearly someone who takes care of yourself. So when it comes to screening for colon cancer, dont wait. Because when caught early, its more treatable. Im cologuard. Im noninvasive and detect altered dna in your stool to find 92 of colon cancers. Even in early stages. Tell me more. Its for people 45 plus at average risk for colon cancer, not high risk. False positive and negative results may occur. Ask your prescriber if cologuard is right for you. Im on it. Thats a step in the right direction. 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. Maria welcome back, Tesla Ceo Elon musk isry opening companys factory in california despite local stay at home orders. Musk tweeted this yesterday. Tesla are restarting production today against alameda rule. Tesla stopped production of model 3 in march 23rd, Dagen Mcdowell hes Going Forward and doing what he said he would do. Dagen elon musk is becoming an even bigger American Hero than he was before because he is maybe the loudest voice in the country pushing back against capricious from local officials from government overreach, from personal political agendas turning into power grabs. Why the governor of california gavin newsom doesnt intervene and tell Alameda County, tesla has been huge asset to the state and the nation, tesla is opening up, instead of following elon musk, you to follow kimbell musk and he has been tweeting quite a lot. The governor has enormous power. He chose to put it in the hands of the county, Alameda County and he can take back the decision, this is on gavin newsom deciding the future of tesla with his decision and he can easily revert it. You should check out twitter feed because hes talking about, i thought trump from the very end to stop him, i hate the guy but gavin newsom is showing me how to be governed by socialist. When he grows a spine thats when democrats can run america again. Thats from kimbell musk, it just gets crazier. Maria quick break, dining out the new normal, ahead of north americas largest chain on plans to welcome customers back. A lot of changes coming. Youll want to hear this. Stay with us. Particularly maria welcome back, good tuesday morning, everybody, thanks so much for joining us. Im maria bartiromo, it is tuesday may 12th, top stories before 6 30 a. M. On the east coast. More businesses open across america. Tensions continue to rise between United States and china s p futures up 5 and a quarter and nasdaq higher by 19. Dow snapping a twoday winning streak with decline of the session of 109 points at 4 00 oclock on wall street. Nasdaq is about six and a third percent off of alltime high, right around record territory still. Global market this is morning look like this, european indices little movement, spain is ordering a twoweek quarantine for Incoming International travelers, a move that will further impact an already struggling tourist situation in the euro zone. As you see the european markets were mixed. Ftse 100 up 50 points right now, dax is up 39. In ash overnight, red across the board, china Consumer Price index report was out, up 3 and a half percent in april n surprise because food prices have been soaring, up 14. 8 in the quarter. Prices for pork almost doubles from a yearly earlier and demand weakened across the globe. As you can see shanghai composite down fraction overnight and hong kong hang seng index down 1 and a half percent. Oil prices on the rise, saudi aramco down 25 as oil prices plummeted. The company says that it sees the impact of the coronavirus weighing on earnings for the rest of 2020 despite decline the oil giant is sticking with dividends all companies are looking to see what is next on the dividend payout but management says its safe. New Surveillance Video shows au ahmaud aubery. Cheryl the video shows the man enter from the garage and takes nothing and aurbery shot to death minutes later in the video. Greg and Travis Mcmichael were arrested. Airlines responding to backlash from viral photos of packed planes like this one that was shared from volunteered doctors who returned from helping with covid19 in new york city. The company tweeted this, starting next week it will notify passengers if their flight is expected to be full and allow them to rebook or they will get credit for that flight. United is also named bret hart as new president. Hart is currently executive Vice President and chief Administrative Officer and new job and part of Succession Plan at united airlines. Well, the nations largest model owners says it plans to reopen 200 malls and Outlets Centers in the next week. The group was forced to close all locations in march due to pandemic. That led to a 20 drop in First Quarter profits. Now taking a look at the stock in the premarket. Look at that up more than 5 and a quarter percent. Big news happening at Property Group and reopening. And by the way, a look at what the trending this morning on foxbusiness. Com, red lobster impacted by coronavirus leaves mothers day customers empty handed and complaints about missing orders and disneyland accepting reservations for july and mike tyson teases boxing match rumors, maybe we can watch that virtually, maria, all your headlines trending. Maria i have to get to fox business, thats some list of stories there, cheryl, thank you. We will be checking that out for sure. Restaurants grappling of what a reopening might look like. A Restaurant Brands international which operates 15,000 burger king, popeyes and tim horton restaurants across north america says its ready to welcome customers out to map in and joining us fox business exclusive is Restaurant Brands international ceo jose cil, jose, good to see you, thank you so much for joining us and this is a question being asked all around the country, yes, we want to open but can we do it safely, what makes you so confident that youre ready and you can keeps employees and customers safe . Well, good morning, thanks for having me again. Great to see you. We have been open for business the last 60 days here in north america. Our drivethrus, delivery business, curbside pickup, mobile order and takeout as well hags been has been open and frank franchisees have been working with social distancing, ppp and high hygiene and Safety Measures and we have been doing this quite some time and we confident, obviously safety and wellbeing of our team members and guests is number one priority and we feel confident and we want to give comfort all the guests around north america that we are open for business and we will follow very closely the process that folks are requiring for us. Maria okay. So so what else, you have the masks, youre doing hygiene, doing cleaning, how would Dining Experience be different . Tell us what youre doing in terms of spacing out the dining room differently or anything that we need to know as we all do want to get back and go out to dinner again . So weve added order and takeout process, weve add additional level of ppe and safe distancing in the dining room and we are separating tables and in some cases we will have signage in some tables because they are too close to other table that is they wont be available. We want to ensure that we are able to maintain safe distances in the dining room, procedures for the restrooms so you dont have to handle it with your hands. A number of steps that we are taking in the dining rooms in addition to things that weve taken in the back of house to ensure that we have a safe process every day for all of our guests all across the country and in north america. Maria jose, we have been hearing nightmare stories from restaurants, businesses flat, they dont have any cash flow, some of them may not even make it because they live on clash flow. Cash flow. Assess your business for the last weeks. It impacts the top line which ultimately drives cash flow and so owners and franchisees across america have been struggling but the government has stepped up quite admirably and quickly that theres cash flow to address workers, compensation or payroll. Weve also worked as a brand in burger king, tim hortons and working close and helping with rent deferrals and in some cases adjust to go variable rent to ensure that liquidity is addressed and the most important to our franchisee and we think we are in a position to weather the storm. We are monitoring daily across the country and north america and across the globe. We are in the position to weather the storm because we have great franchisees. Maria i assume that you did not take ppp money, is that right . We as a company did not. We had some franchises that applied and they are making decisions on a daily basis as to whether those funds can be used for as prescribed by the statute, but we as a company did not, no. Maria and did you have to lay any one off, how how have you managed getting through all of this . One thing that im most proud of representatives of folks, rbi, we did not lay anybody off. We have a distribution business in canada, we have our own Company Restaurants. We actually for Company Restaurants we made available a fund to address employee needs for covid19 and also provided bonus payments to hourly employees and strong commitment to all of our employees to Restaurant Brands international that we would not be laying folks off. We want to Work Together to make it through this difficult situation and we think based on the strength of our brands and teams they would be able to come out of this much stronger. Maria all right, best wishes to you, jose, thanks very much if being here, jose cil, Restaurant Brands. Coming up countering china, what the Trump Administration is doing to block chinas growing influence. Be sure to tune in thursday morning, exclusive morning, President Trump covers wide range of issues from reopening the economy to the rising tensions with china to the Michael Flynn exoneration. Dont miss it thursday morning 6 00 to 9 00 a. M. Eastern. Stay with us. We will be right back. Now is the time for a new bath from bath fitter. Every bath fitter bath is installed quickly, safely, and beautifully, with a lifetime warranty. Go from old to new. From worn to wow. The beautiful bath youve always wanted, done right, installed by one expert technician, all in one day. Weve been creating moments like these for 35 years, and were here to help you get started. Book your free virtual or inhome Design Consultation today. Maria welcome back, curbing chinas control, President Trump ordering all federal retirement money invested in equities to be pulled. The move tie today chinas handling of the covid19 crisis. White house officials tell labor secretary eugene scalia, they no longer want money invested invested in Chinese Companies. According to letters this involves 4 and a half billion dollars. This is the subject i brought to our audience over a year ago. Joining us fox news senior strategic analyst retired analyst jack keane. Great to have you here. Thank you for joining us. And i think that i brought this up to you a couple of times, general, because it was just so shocking to me that you had the military money, the 401 k money of our military men and women past and present investing in companies that are actually building equipment for the Chinese Military and some of the companies i have a list here are just like china, they are subsidiaries develop and produce range of aircraft, you have height vision which is Company Tracking tracking the uguys that are locked up in china. Jack my answer is finally. The federal employees defined benefit plan, their pension fund so to speak. The largest defying pension plan in the world worth 157 billion, about 40 billion of that is an International Fund and about 10, 11 of that is going into china and those were those were decisions just made recently in the last couple of years and that has been the concern right from the outset when they began to make the kind of investments, a number of senators spoke out about this, senator mark rubio, et cetera, and they were trying to point out that, look it, we are putting money into the coffers of Peoples Liberation army, military capability which is up gunned and obviously being used to muscle our allies in the region. It never made any since right from the beginning and now the administration is focused on this piece and its an important focus. I think this is the beginning of a number of things that are going to come out in terms of taking a stand against china. Wewe have a comprehensive plan against them in terms of economically, politically and militarily but i think we will get into some of the details of the execution that i think have should be there and very necessary. You know whats also encouraging, the Administration Knows they have the wind at their back because the recent pew poll taken indicates 66 of the American People believe china is a threat and thats before all of the details of the information came out about the pandemic. That is actually staggering. Maria look at the details, ive been doing a deep dive. We did special america versus china which you were in which aired this weekend which went through all of the bad behaviors on the part of china, put the thrift fund aside for a second that you had 50 billion going into the companies that are building equipment for the chinese army, you the intellectual property theft which they are doing right now. Continue to go try to steal medical data to get a vaccine for covid19 before us, the acquisition of companies so they force the transfer of technology. The movement of the military bases, how about that, general, how about the fact that the Chinese Military has been setting up military bases across the world in particular at ports so that perhaps they can control trading by the red sea. Jack see what happened to us is china made a big decision to really open up open up their markets to investors, to major american companies, thousands of companies moved in there because china was saying, look, we will have more of a marketbase economy here than weve had before than controlled socialistic economy and we had at that time an absolutely contrast of values and ideology, but the economy weve opened up, companies can prosper and the thought was that if china went through this Major Economic reform, political reform would follow. When president xi came in there was no thought of political reform. He developed a very aggressive strategy to dominate and control the indopacific and replace the United States as the world leader. Hes been about that path as you know and youve been documenting it for a number of years ever since then. The strategy changed, the world has not changed as a result of the it. The United States changed. Now hopefully as a result of this pandemic that the world will begin to see much more clearly and make substantive changes. Maria and that is because President Trump changed the conversation around china. I mean, he really did. For all of the administration where is the supply chain and we were so dependent on our prescription drugs from china. The president upended all of that and put in everybodys face. I want to keep talking and looking at what changes because we did have there was programs, we did have hope that china would change and that was the whole reasoning that maybe they could see, the communist government would understand the benefits of democracy and free society, lets see what happens in hong kong and yet they didnt. Xi jinping came in and started arresting the protestors on the streets of hong kong, meanwhile theres more arrest this is week. Thats happening this week. I have to switch gears and ask you about mark espers comments. He says that the government sudden burst into spending may affect the pentagon budget. General keane, we talked about the readiness of our military for a long time, is this going to impact readiness . Jack i think it likely will. I mean,i will defer to secretary esper and his budgeteers in terms of what the impact is. We have been digging ourselves out of a huge hole here created by the 9 11 wars and president obamas declination of the budget and esper, i applaud what hes doing, making sure we have advanced technology to provide deterrent to chinas aggressive to indopacific and the world at large. We are digging ourselves out of a hole to do that, yes, if hes saying we have a problem, i will defer saying we have a problem. We need the budgets to be able to get the kind of deterrent we should have and we dont have it now. Maria all right, general, thank you so much for weighing in this morning. Great to see you. General jack keane. Stay with us. Lots to come right here. We will be right back staying connected your way is easier than ever. 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, time for morning buzz, Philadelphia Eagles wont be back until september, but they are putting their fields to good use offering weddings to first responders. Lincoln financial field. Any couple that had wedding plan before march 31st, 2021, couples must sign up for reception package which start at 50 per person. The stadium normally cost 30,000 to rent out. Pretty good use of the stadium, Jon Hilsenrath. Jon it is, the only problem is its in philadelphia. As new york giants and yankees fan, you could put me for yankees stadium. [laughter] maria its a problem for you, but a nice idea. A blast from the past, check this out, back to the future cast members michael j. Foxx and lea thompson reuniting for a group zoom call to talk about the franchise and rattle up some of the movies most iconic lines, watch. Apparently a mother is nice call. Your mother is infatuated with you instead of your father. Youre telling me that my mother has the hots for me . Maria the stars got together for reunited apart which brings together the cast of iconic movies, steve. Steve i think its a great back to the future, back to the future was one to have great movies and some of my favorites was the street scene where they had guy said ronald reagan, how can he ever become president and it was wonderful. The whole thing and the way they treated and everything, fantastic. Really, really great. They brought them together. Maria we are going to slip in a short break and we have more mornings with maria after this. Stay with us achievable steps along the way. 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. Can my side be firm . And my side super soft . 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. Good tuesday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is tuesday, may 12th. Your top stories right now. The road to recovery as more businesses reopen, some economists are predicting a large decline and then a slow recovery, like a nike swoosh, were talking a long recovery before getting back to normal. House democrats are looking to give money to the states as well as putting 2,000 into americans pockets. Some are raising concern over growing debt. Tensions between the United States and china continue to grow. President trump says he is not interested in renegotiating phase one of the trade deal. The president has ordered federal retirement money to be pulled out of chinese equities from the thrift fund. Turning to markets this morning, futures are indicating a mixed opening for the broader averages. Dow industrials now firmly in positive territory, up 54 points, the s p is up 4 and a quarter, the nasdaq higher by 15. This after the nasdaq and s p 500 completely erased early losses to close higher. The dow is down. The controversy over the Michael Flynn deepens, now we have the names of the Obama Administration officials who requested the unmasking of the former National Security advisor declassified. Meanwhile, President Trump says the crimes committed by then president obama are obvious. Plus, elon musk driving down his own road, defying stay at home orders and reopening his california tesla factory, saying if anybody is arrested for doing that it should be him. A programming note, thursday morning i will speak with President Trump. We will get the very latest on getting america back to work, additional stimulus, the 2020 race and a lot more. Dont miss it, my interview with the president on thursday morning right here beginning at 6 00 a. M. , 6 00 to 9 00 a. M. Eastern on mornings with maria. Mornings with maria is live right now. And Global Markets this morning are mostly higher. The fq100 in u. K. Is up 61 points, although the cac in paris is down a fraction, lower by 12 points, the dax in germany is up 36 points. Spain has ordered a twoweek quarantine for Incoming International travelers. This move will further impact a tourist situation in spain and throughout europe. In asia it was red across the board. China reported inflation data, the Consumer Price index was up 3 in april, food prices were up 14. 8 . Pork prices almost doubled from a year earlier. Factory prices fell at the sharpest rate in four years as demand weakened around the globe and the chinese economy continues to show weakness. Oil prices are up this morning again, saudi aramcos First Quarter profit was down 25 as oil prices plummeted. The company said the impact of the coronavirus will weigh on earnings for the rest of the year. The oil giant says it will stick with the dividend and not touch it. Oil prices are up 5 andahalf percent at 25. 48 a barrel. With me this morning, Dagen Mcdowell, Jon Hilsenrath and steve forbes. Great to see everybody this morning. Good morning. Maria and some of the top stories that we are watching this morning, the United States is prevailing in the coronavirus testing. President trump touting the countrys success announcing that states will receive an additional 11 billion in funding just for testing. This major investment will ensure that america continues to conduct more tests than any country on earth by far. I said from the beginning that the federal government would back up the states and help them build their testing capability and capacities and thats exactly whats happened. Maria meanwhile, white house staff now required to wear masks and other facial coverings after two Staff Members tested positive for covid19. Well, the senate will hold a virtual hearing today on safely reopening the country amid the coronavirus pandemic. White House Task Force member dr. Anthony fauci telling the New York Times that he will warn lawmakers today that the country will risk, quote, needless suffering and death if it opens too quickly. Senate minority leader Chuck Schumer is urging the nations top Infectious Disease expert to not hold back telling him to, quote, let it rip. Dr. Fauci is testifying remotely after entering a modified quarantine. Robert redfield and the fda commissioner, dr. Stephen hahn, expected to testify also virtually. Tesla ceo elon musk is defying a shutdown order and reopening the companys u. S. Plant in california. Musk tweeted this, if anybody is arrested i ask it only be me. County officials ordered the factory to remain closed to prevent the spread of covid19. Musk has threatened to move the tesla plant and its headquarters to nevada or texas. Tesla shares are higher this morning ahead of the opening bell, it is up at 816. 80 a share. Security concerns regarding china, President Trump cutting investment ties between u. S. Retirement funds and chinese equities. According to fox business sources, the funds invested in chinese equities is 4 billion in assets, this as concerns are mounting against china and its involvement in the covid19 pandemic. Weve been telling you about this for some time. The thrift fund, 500 billion fund was earmarked 10 of that which is 50 billion was earmarked to invest in the msci index, loaded with Chinese Companies building equipment for the Chinese Military. I spoke with senator tom cotton on efforts by the chinese to steal u. S. Research towards a covid19 vaccine. Do you think they are in our medical institutions right now, stealing science data to try to beat us to a covid19 vaccine . Chinas using the exact techniques theyve used in agriculture, in semiconductor, computer chip technology, to try to steal our most cutting edge life science knowledge, to include coronavirus information, whether companies are working on therapeutic drugs or vaccines, the department of Homeland Security just issued a warning recently cautioning laboratories and companies and universities to keep their guard up for cyber theft. All of our institutions in the medical field, in the Life Sciences and pharmaceutical field need have their guard up against chinese espionage. Maria joining me right now is north dakota senator, Senate BudgetCommittee Member r kevin cramer. Its good to see you this morning. Thanks for joining us. Weve got this first letter written on monday to National Security advisor robert obrien, National EconomicCouncil Chair larry kudlow, writing to the u. S. Labor secretary, gene scalia, that the white house does not want the thrift savings plan, the 401k money for military men and women, past and present, to have 4 to 5 billion in Chinese Companies. Your reaction . Well, good morning, maria. First of all, i applaud the president. Its great to have a leader who sets a moral standard beyond just return on the investment, the financial return on the investment. I think its entirely appropriate and its probably a good lesson for a lot of us. I think it sends all of the right signals. Not the least of which to american citizens and federal workers, including myself. I have the thrift savings plan as a member of the senate. I actually had chosen one of the portfolios to be the International Fund which were talking about. I appreciate that very much that hes taken that position. It also sends a strong signal to china that were not going to just sit back and tolerate it and sort of look the other way because of a financial return, but rather take a moral stand. So i think its entirely appropriate and has the advantage of being the right thing to do. Maria well, i had asked gene scalia about this. He joined me last week. He said well, we have a separate board thats dealing with this. Now hes got the letter from the white house because that money, that 5 50 billion was investen things like hike vision, the company thats tracking the uyghurs that are in camps right now or china avik which is Building Military equipment. It bomilitary equipment may be d against us at some point. I digress. I want to ask about the coronavirus stimulus. House democrats say a vote for the next Coronavirus Relief proposal will come this friday at the earliest. Democrats are calling for more than 750 billion for state and local governments. What is your take on all of this, sir, in terms of what should go in another relief package . Well, maria, first of all, i think that this fridays vote if they have it friday or shortly after really is more about the vote itself than it is about any type of result. I think its designed to be a political messaging vote, its a package so far that looks like publicly funded bribery and weve already invested, what, 3 triltrillion dollars into the coronavirus recovery. Not to mention all the liquidity that the Federal Reserve has put in. And which amounts to much more even than the 3 trillion that congress has appropriated. To be honest, in terms of economic stimulus, nothings going to really stimulate the economy until the economy reopens. All the liquid in the world thats provided by the government, while it may sort of stabilize stock markets for a while, doesnt really get another person back to work, doesnt create another job, doesnt generate much wealth. In my mind, we ought to slow it down, see how the existing programs are working. If we do go forward, i think we need to have some larger policy discussions rather than put it this way. If were going to borrow money to stimulate the economy, lets do something more longterm. Lets talk about taxes, lets talk about payroll tax holiday and cuts. I think those things have a better chance. Maria isnt everything on the table right now. Im asking you, senator, what you think is a priority. Because weve had larry kudlow on the show and steve forbes is with us today. They want the payroll tax cut holiday. Weve also talked, Kevin Mccarthy says he wants some longterm plan to move the supply chain, right. He wants to make sure that there are incentives to companies to make their important ingredients for our important drugs here, so would you be up for putting tax breaks in place for companies that move their supply chain to america out of china and what about that payroll tax cut and what about the states . Those are the three things that are being talked about although nancy pelosi is not back yet and there is worry shes working on the relief package herself and is going to ask for an up and down vote. I think thats pretty obvious, maria. This is clearly a topdown mandate and democrats are going to be expected to rush back here and take that vote with very little discussion or input from rank and file members. With regard to your questions, i like the idea of working and looking at the tax code because it has more of a longterm stimulus attached to it that is embedded in good Public Policy. If were going to stimulate the economy, lets let people keep more of their taxes and lets incent the right behavior such as moving the supply chain. Weve seen tremendous vulnerabilities in our supply chain. Food supply chain with meat, pharmaceutical supply chain, energy compl supply chain, i thk leader mccarthy is right about that. Maria so you want to incentiveize companies to keep their company here. A Chinese Company acquiring Smithfield Foods . People dont understand the ramifications of having foreign countries, some of whom are working against us, owning so many important assets, food assets, drug assets, 70 of the active ingredients for prescription drugs. Senator. When wendys runs out of hamburgers, the man on the street sees the problem. Smithfield is the largest pork producer in the world, in the country and theyre owned by china. Jbs, the largest beef packing plant in the country is owned by brazil. So 80 of our beef supply chain, our meat supply chain is owned by four companies, two of them are foreign owned. Thats one of many examples of our vulnerability in the supply chain. Maria very, very important issues that you raise. Kevin cramer, good to see you. Thank you, senator. Well be watching the developments. When we come back, former ims chief economist is here on the recent moves taken by the Federal Reserve, how that 10 trillion in stimulus, well talk about it, rxr realty chairman and ceo is here on how the office space could be changing. In the 8 00 a. M. Hour, dont miss texas congressman michael mccall, the head of the new China Task Force on what lawmakers are doing to address the threat from china. Ceo of mylan labs is here on the supply chain worries and the founder of andril industries, big interview here with palmer lucky on the Defense Industry amid growing tensions with beijing. Dont miss a moment of it. Well be right back. 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Ask your doctor about trulicity. Maria welcome back. New territory for the Federal Reserve, the central bank announcing that through its new emergency Lending Facility starting today, it will buy Corporate BondExchange Traded funds for the first time ever. According to the wall street journal, the fed sees the etfs as a fast way to inject money into credit markets as opposed to purchasing bonds directly. Investors bet last week that federal borrowing rates may go negative in the next year, causing twoyear treasuries to hit an alltime low on thursday, down point four basis points. Former chief economist and Harvard University economic and Public Policy professor ken rogoff joins me right now. Always a pleasure to see you. Thank you for joining us. Thank you, maria. Maria were you surprised to see the fed buying these bond etfs. I want to ask you of course about this new Lending Facility and what your expectations are. Well, obviously its a huge development. I mean, i think the first thing to say is the fed has been holding up the economy and what the fed has done has probably had more impact in sort of holding up firms, holding up markets, even than the 3 trillion in stimulus. Theyve been heros. But this is obviously a big step into what we call directed credit. It is wartime finance. Its a really dramatic move. I feel that they felt they had to do it and i think the question is, well, fine if the economy gets better in a few months. But are we going to sort of slide into sort of a Central Bank Socialism over a longer term which actually youll find people in the progressives who want. Maria Jon Hilsenrath . Jon ken, in addition to what the fed is doing for the corporate market, we have a u. S. Treasury thats borrowing 3 trillion in just one quarter, the Second Quarter of this year. Youve written a lot in the past about the effects of Government Debt on the economy. Are you concerned that were getting to a point where theres so much Government Debt right now that its going to hold back growth and the recovery after we get through this virus . Right now were trying to control the freefall which has a lot bigger effect on the subsequent recovery than whether our debt goes up 3 trillion, 10 trillion or 15 trillion, frankly. The u. S. Has enormous borrowing capacity. The dollar rules the world. That said, its not a free lunch. There are risks. There are costs. But no, i think we need more stimulus. I dont think this is ending any time soon. I dont think were getting any kind of vshaped recovery. I think it could be five years before the u. S. Gets back to where it was in 2019. So expect the debt to go up a lot more. I will worry about it when we get there. It is an issue. Its not a free lunch. But theres really not a lot to do. Maria yeah. And you know, peter kno navarros with me on sunday, he had a similar comment. He said multi years before we get to normal. That doesnt mean we wont see growth. Getting back to what it looked like in 2019 is a long way off. Final comment here. I would say following up on the Federal Reserve, i think we are going to need to think about negative Interest Rates. People may complain about it but its a market oriented device. Its not picking winners and losers. And actually deep negative rates and you actually see the market thinks this is possible. The fed has said it wouldnt do it. But if this it also said it would do whatever it takes. Maria all right. Well leave it there. Ken, good to see you this morning. Thank you, sir. We will watch that for sure. Were pretty close to negative rates right now. Well be right back. Stay with us. Some work cant stop. Because our communities need you. Which is why were working to keep you working. And ready to dig in. To help you keep your properties and towns maintained. Your farm running. And construction moving. Your work is essential. Kubotas 1,100 dealers are behind you. Together we will get through this. Call or email your kubota dealer about 0 financing. No payments for 90 days offer expires 5 31. Together we do more. Maria welcome back. Back on the field, Major League Baseball reportedly giving the go ahead to the Players Union to get th the delayed season gog around the 4th of july. Spring training could begin next month with games played without fans. Nascar revving up on sunday with the first race since the pandemic. Steve forbes, are you excited to see pro sports come back . Its happening. Steve it finally is happening and especially baseball. The idea that you can play baseball without fans in the stands, theyre going to have to do that and what i really wish they had done was try to play more games in cities around the country, rather than handful of cities in the south and elsewhere in the country. And the three divisional thing i think is going to be very, as they say, interesting. So its not going to be a real baseball season but right now all of us fans will take whatever we can get and hopefully we can go to the park and learn how to drink beer through a mask. Maria Walt Disney World in florida already booking reservations for folks to visit in july, right now theres no official opening date. But it comes after disney shanghai saw a partial open and Disney Springs announced a phased opening beginning on may 20th. Whats your take on that . Steve well, i think that, again, anything that moves the ball forward is to be applauded. And again, the key thing is, how do we get more fan participation. Thats the key. Maria dagen. Dagen i dont want a big foot on Jon Hilsenrath talking about sports because life is just hes devastated that he doesnt have live sports to watch but jon, youre not a nascar fan but nascar, the racers, the drivers are back on the track. Darlington on sunday, they have seven races lined up, four cup races, two at darlington, one sunday, one wednesday and then to charlotte sunday and wednesday and a huge shoutout to the people at nascar for getting racing back and on television. They picked darlington, South Carolina and charlotte because its close to the home teams, all the teams are based in charlotte, North Carolina and they had to do something because these teams were just financially devastated by not being able to race. Ryan newman who had the horrible accident at the daytona 500, he will be back races on sunday. Maria its exciting. You can watch it all on fox on sunday. Its going to be a big day for nascar, sunday on fox. Headed back to work in a covid19 world, the changes coming to your office space right here, next. Its about at this and a beat. Who can make my life complete. Or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Show me what youre made of. So we showed it our people, sourcing and distributing more fresh food than anyone. We showed it our drivers helping grocers restock their shelves. We showed it how were donating millions of meals to those in need. We showed it how we helped thousands of restaurants convert to takeout and pop up markets. And how were encouraging all americans to take out to give back. Adversity came to town. So we looked it right in the eye. And it wont be us. That blinks first. Maria welcome back. Good tuesday morning, everybody. Thanks so much for joinings us. Im maria bartiromo, it is tuesday, may 12. Your top stories right now. Markets are pointing to a higher opening as more businesses reopen across america and tensions continue to rise between the u. S. And china. The dow futures right now up better than 100 points, nasdaq is up 42 and s p 500 higher by 11 points. This after the nasdaq and s p 500 erased early losses yesterday to close in the green. The dow snapped a twoday winning streak with a decline, but the nasdaq was up 71 and the s p squeaked out a half a point gain. The nasdaq is 6 and a third percent off of the alltime high, pretty close to record te. The cac is negligenc negative,. The asia, red across the board, chinas Economic Data out, set the tone. Consumer prices were up 3. 3 in the month of april, food prices soared 14. 8 and the price of pork almost doubling from a year earlier. Meanwhile, factory prices out overnight, falling at the sharpest rate in four year as demand weakens across the globe. Shanghai composite moving lower overnight. Saudi aramcos First Quarter profit sliding 25 as oil prices plummetedded. The company says it sees the impact of coronavirus weighing on earnings for the rest of the year. However, despite the drop, the oil giant is sticking with its its dividend. The price of oil up 5 and a quarter percent as you can see. Hyatt hotels cutting its workforce unfortunately more cuts to tell you about. Cheryl casone with those details now. Cheryl. Cheryl thats right. Kind of the opposite story what marriott told us yesterday. Hyatt is going to lay off 1300 workers around the world as covid19 lockdowns hit the hospitality in general. Its part of a restructuring that includes pay cuts for senior management, Board Members and all of hyatts employees. Hyatt posted a wider than expected quarterly loss last week. The stock is little changed in the premarket, down five cents right now. Well, stay at home orders putting disney plus on track to become the second biggest streaming service. The mouse house streaming network expected to reach more than 200 million users in the next five years. Thats according to digital tv research. Before the pandemic, amazon prime was ranked higher than disney in terms of subscriber tray expwretrajectory. Disney in the premarket, stock up almost a little more than 3 and a quarter percent, part of the excitement around disney certainly is the theme parks that might be reopening soon. And here is a look at what is trending this morning on foxbusiness. Com. Coronavirus hit uber, reportedly holds zoom layoffs for thousands of workers. Yep, laid off on zoom. Dolphins deal, 30 million, the new quarterback for the miami dolphins. Loungewear trumps pajama and coronavirus fashion, its all about the yogawear in these pandemic days. Maria ive got to check out the fashionwear on foxbusiness. Com. Thank you, cheryl. Opening the coronavirus era office, yes, the coronavirus era office. Companies are switching up the work space to adjust to the pandemic. Employees are finding major changes at their desks when they get there, like one personnel vapors and no cafeterias. Desks are spread apart with plastic shields and disposable pads to catch germs. Many changes will not go away until the virus does. Joining me to talk about that is Regional PlanningAssociation Chairman scott wreckler. Thank you for joining us. Your company has a new program to give tenants peace of mind when returning to work. Why dont you walk us through some of the changes youre talking about and what youre telling your tenants about getting back to work. Absolutely. Thanks for having me, maria. Listen, we are on our way out of this Health Crisis and the baton is being handed back to Business Leaders to get business open but its not going to be business as usual. Nor should it be business as usual. Because were not going back to what it was. Were not going back to a new normal. Were back to what i would like to call the new abnormal, figuring out how to open our businesses in a responsible, safe way and coexist with this virus and so were going to need to learn new behaviors and operate in different ways than we have before to be able to do this in a safe way. So weve worked very closely with microsoft, mckinsey, the leading Health Systems in the new york region to develop tools and protocols that Mix Technology and processes that enable people to get back to work safely. It starts with an app that everyone thats in our buildings will get and it starts at home when they get up in the morning, theyll be able to open their app and theres going to be a health index that literally takes thousands of pieces of data every day through an algorithm and rates the health and wellness of our building and as youre someone thats susceptible or been sick and its got a low rating, you work from home that day. It also helps you manage rotations of workforce and staggered openings. As we open our buildings and open up for business, were going to have to do this in a way that is less density, maybe its 25 so you rotate the amount of people coming in and stagger the times they come in which will help with public transit. Youll know what your rating is on there and be able to comply as to when you come into the office. And were going to ask you to fill out a health and wellness questionnaire and youll answer five or six questions, take your temperature, and you get a green or red. If its red the recommendation is to stay at home rather than come to work. When you get to the office, youre going to be wearing face sorry. Youre going to wear a face mask when you walk in the lobby. As you walk in the lobby well have the thermal scanners that will take temperatures of everyone walking in. If someone has a temperature of over 100. 4, well have a wellness concierge that will meet the person, be identified that that person has a temperature and give them a arrange transportation to take them home or to a medical facility if thats necessary. Well monitor if people arent wearing masks, well have cameras that will identify if someones not wearing a mask and well give them a face mask to wear. Maintaining social distancing in our lobby, so again, using technology to ensure that people are staying six feet apart within our lobby and if not, then well go and move them apart and then the elevators, you mentioned the elevator in the opening. Thats been a challenge. Part of this is cueing into the elevator and were creating Touchless Technology so you dont need to touch the turnstile when you go in. It will in many cases automatically note how many people can fit into an elevator. Depending on elevator size, well have four to six people, well have squares you stand in the elevator, wear a face mask, face forward and it will take you to your floor. Maria wow, so many changes but they all sound really good in terms of keeping people safe. But go back to that health index. How will this index know that i should stay home from work . You said well, the health index, youve got to check on that. What metrics does that health index have about me . Sure. It has more general building information, not about you. Right. So it will have the air quality in the building, the average temperature rate, if theres a surge of people calling in sick, humidity levels, and so it calculates all that information on a realtime basis and so youll make the determination yourself and a big part of this is changed behavior and empower people to make educated decisions. So if youre not feeling well, youre working with someone thats sick, you live with someone thats sick, you wont come to work. Maria this is really fascinating, scott. Jon hilsenrath, jump in here. Sounds like our desks and offices, jon, are going to look a lot different and feel different. Jon one of the things that im wondering is are Companies Going to need less floor space as part of costcutting and part of social distancing, having more people work at home. Does this Mean Companies go from three floors to two floors and what does that mean for the commercial Real Estate Industry . Its a good question. I think in the what i call the new abnormal, companies are going to need more space, specifically in their space because they need to maintain social distancing. So were redesigning spaces so theres six feet between where people would normally sit and were coming off an environment where people are trying to fit more and more people together so it was dens densified. I think people will realize the concept of a decision contributed workforce and everyone doesnt need to work in the same space all the time. The netnet will be a balance. I think theyll probably have to have more space per employee in their headquarters but they need to have people working either remotely at satellite offices or remotely from home part of the time. I think the other thing thats important is when youre in the space im sorry. Go ahead. Maria please go, whats important. Again, thinking about behavior, part of what we also have the technology is were going to have a tool that when youre working in your offices, youll be able to end of the day to get a percentage of time that you actually maintain strict social distancing. So if you were able to do that lets say 70 of the day, it informs you. So the goal is to help you learn this new way of working and living together in your office space so it feels natural and you can get back to the community and the innovation and the collaboration in the workplace without having to think about this as much. Maria all right. Real quick, scott. I just want to get your take on the cost of all of this because it sounds to me that companies are going to be facing a lot higher expense as they do all this retrofitting and have you seen any strain from your tenants in terms of paying the rent, the commercial leases right now, given this shutdown . Those two questions, on the cost i think our audience is really interested in knowing how much all of this is going to cost for companies. So i would say on the cost, every company that works in our buildings puts their employees safety as the top priority so to be frank maria of course. I get that. We need to get our team members back safe. A lot of this technology relative to the cost of office space particularly at a place in new york on a relative basis is small. Maybe longer term there may be costs again to jons point, thinking about the workplace but thats something that will be determined longer term. Maria all right. We will leave it there. Scott, great to have you this morning. Thanks so much. A lot of great information from you. I hope youll come back soon. We loved having you. Scott joining us on the new changes well see. Changing the way we travel, what to expect on your next flight as the world starts to reopen, thats next. Tune in on thursday morning, well get all of this from the commander in chief, ill have an exclusive interview with President Trump on thursday. Well cover a wide range of issues from reopening the economy to the rising tensions with china, the exoneration of Michael Flynn, all on the agenda with President Trump this thursday morning, 6 00 to 9 00 a. M. Eastern. Dont miss it. Back in a moment. Americas oldest lighthouse has weathered many storms. Seeing the break in the clouds before anyone else. Together, well weather this storm. Maria welcome back. If travel industry looking to rebound from the devastating impact of covid19. The pandemic cutting 95 of u. S. Airline passenger traffic compared to a year earlier. Domestic and foreign travelers experiencing vast change as they navigate post coronavirus planning as the world looks to reopen now. Joining me right now to talk more about that is the managing director of visite of virtu oso. Tell us the most significant changes that youre expecting as relates to travel. Thank you so much for having me this morning. Really, every aspect of travel is going to change, whether its the Flight Experience, the hotel experience, or cruising, every major aspect of travel is going to change. Really, its going to start with the airport and the Flight Experience because thats how people get from point a to point b. And so the physical distancing is going to really impact what youre seeing starting at the air iairport in terms of queuin, going through security, waiting to board, that zone boarding is no longer going to be kind of a rough guideline. Its going to have to be enforced. So that people are spaced appropriately. Once they get on the flight as well, theres going to have to be distancing thats put in place there too. But really what youre going to see is sorry, go ahead. Maria no, no, please what youll really see is the difference between prevaccine and postvaccine in terms of how people are traveling. Maria i mean, among the steps under consideration, no cabin bags, no lounges, no automatic upgrades, face masks, surgical gloves, selfcheck in, selfbag dropoff, immunity passports which i mentioned a number of times on the program where you have an app on the phone where it says i had it, i had the antibody test, im good to go. How will Digital Technology and automation enable all of this. Tell us what to expect in terms of the Digital Technology enabling this. I think biometrics is going to play a role. If you already have it clear and you have the ability to have bags already tagged onto your passport or onto your traveler profile, its going to end up being something that you thats just associated with you as a traveler and so whether thats the certificate or the stamp, the electronic stamp you get once you have the vaccination or once you have the antibody test, thats going to be something that can stay with you for your domestic travel, also for your International Travel. It may be connected to your visa, may be connected to your paspassport, Something Like tha. Maria everythings changing. Steve forbes, jump in. Steve how does the cruise line business come back . You not only have concerns about being on the ship but also concerns about the countries you may be visiting in terms of getting a virus like this. How do they come back . Well, the cruise lines are really of course taking this very seriously and they already had strict cleaning protocols. They have been amped up even more. Restoring Consumer Confidence will be the key for travel returning in general, for all aspects of it but for cruise as well. The good thing for cruise is people that love to cruise really love to cruise so theyre going to come back and theyre going to be excited to come back on their cruise. And for some, its not always about the port, its about the experience of being on the ship. For those folks, their confidence is going to be higher than those who dont typically cruise as often. But to initially start, youre going to see more departures from the u. S. , so that people are able to get to the ship so that they have a higher Comfort Level in where theyre cruising, theyll stay a little closer to home and so it will come back. It will come back a little more gradual. What were seeing right now is actually really strong bookings for 2021. So 2020 may be kind of a slow start but 2021 is looking actually really healthy and small ship cruising is going to do well, river cruising, expedition cruising, so people will get more comfortable going a little bit further as we get on. Maria they need to change the ventilation on cruise ships because i was told that the ventilation on some ships has an inability to screen out particles in the air but thats well see what kind of retrofitting the cruise ships do. Real quick, when do you expect International Travel to come back . I know this is just a gut because we dont know, the administration hasnt told us but when would you think flights from it littl italy will be allk in, for example. Everyone loves italy. Its the number one destination for us. We expect travel to come back in three phases, local, then regional, then global. For Global Travel were expecting bookings to come back in the next six weeks or so but the travel period really seems to be six to nine months out, thats about the sweet spot for it. Maria youre talking 2021 probably. Yeah. Late 2020, so Holiday Travel is also doing quite well. So were really seeing it come back for the end of the year, into early next year. Maria misty, thank you. Stay with us. Well be right back. Some Companies Still have hr stuck between employees and their data. Entering data. 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. 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. Once you activate, youll only have to pay for the data you need saving you up to 400 a year. There are no term contracts, no activation fees, and no credit check on the first two lines. Get a 50 prepaid card when you switch. Its the most reliable wireless network. And it could save you hundreds. Xfinity mobile. Maria welcome back. Reshaping the president ial race, we are now six months away from novembers hotly contested election and the coronavirus is likely to have a lasting impact. Today, the Democratic National committee is taking its First Official steps to allow remote voting at the august convention. It comes as senator Kamala Harris gained steam as the leading contender for joe bidens Vice President al pick. The Trump Campaign and the republican National Committee raising a record 61. 7 million in the month of april. Steve forbes, how do you see all of this playing out . Steve well, the Trump Campaign needs that advantage in money, even though the month was almost even overall in terms of cash. Theyre way, way ahead because of the disadvantage they have with the mainstream media. And so that cash is going to come in very handy. But the key thing is, its not just so much in terms of cash, its how they message things. I think what youre going to see from President Trump in the months ahead is giving real tangible form to the achievements he has. For example, deregulation in trucking. Dont be surprised to see him going to a trucking facility and talk with truckers about how their lives are easier with the changes he made during the coronavirus crisis. I think youll see more messaging than the cash itself in terms of shaping this campaign. Maria whats your take on voting this november . I mean, the dnc rules for voting remotely now, steve, i mean, we know that there was election interference in 2016 with the leadership at the fbi and cia. That we know for sure. But will there be election interference in 2020 . The Democratic National committee is taking its First Official step, allowing delegates to the august convention to vote remotely if needed. Any issues here in terms of remote voting, mailin voting . Steve well, obviously there are issues. States like oregon have been doing mailins for several years successfully but trying to do this nationwide and trying to do it at the last minute, you just know there are going to be glitches and theres going to be a fraud in a nation this size. So the democrats can do remote voting at their convention, nancy pelosi can continue to try to do it in congress, its not going to happen. But i think if anything, one of the things republicans have to do is make sure in terms of poll watching, we dont get the kind of i dont mean just on election day, but the kind of shenanigans weve seen in the past, absentee ballots coming out of nowhere, people getting knocks on the door, heres a ballot, fill it out. That kind of thing. Youll see the republicans resisting this kind of remoteness because its going to invite abuse and undermine the legitimacy of the election. Maria exactly. Yeah, thats where i was going with that. Lets slip in a break. Then we take a look at the state of the Defense Industry. Weve got an exclusive interview this morning with the founder of andril industries, palmer lucky, as the u. S. Eyes a growing threat from china. We are there in the drone zone at andril headquarters in that picture. Wait until you hear what theyre making right now. Stay with us. 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. And my side super soft . 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, good tuesday morning. Thanks for joining us. Im maria bartiromo. Tuesday, may 12 your top stories 8 00 a. M. On the button east coast the road to recovery, as more besides reopen, some economists are predicting a large decline and a slow recovery, similar to a nike swoosh instead of vshaped democrats working to finalize additional stimulus to give money to state, and 2000 dollar checks into pockets some raise concerns over growing debt deficits tensions between United States and China GrowingPresident Trump says not interested in renegotiateing the phase one trade deal, the president has ordered federal retirement money to about pulled out of chinese equities from thrift fund turning the markets, futures indicating a higher opening for the broader averages take a look a dow industrials up 118 points, we are at high of the morning s p futures up 11 nasdaq futures higher by 37, this after nasdaq s p 500 completely erased losses yesterday closed higher dow snapped two day wing streak decline 109 points 4 00 on wall street. To recover deepens names of Obama Administration officials who requested the unmasking of former National Security adviser those namdeclassified. Elon musk driving down his road to reopen california tesla factory says if anybody is of arrested as recalled the of this it should be him all this have will be on agenda when i sit down with President Trump, on thursday, the very latest on getting america back to work additional stimulus 2020 race, and much more like the general flynn exoneration i will speak with President Trump thursday 6 to 9 eastern on mornings with maria, mornings with maria is live. Maria Global Markets this morning mixed take a look at european indices ft 100 up 51 in u. K cac quarante pairs down 14 points dax in germany higher by 46, in germany shops all sizes are allowed to reopen. Football matches resume saturday, but without any fans in the stands, in germany, in asia overnight red across the board take a look we have inflation data out of the china food prices soared 14. 8 in april pork prices almost doubling from a year earlier factory price fell sharpest rate in four years as demand weakens across the globe negative overnight, oil prices up saudi aramco First Quarter profit down 25 as oil prices plummeted in quarter, the company says it sees impact of the coronavirus weighing on earnings for the rest of 2020. Despite that oil joint says it will stick with its dividend in place. Price of oil this morning up 5 1 2 25. 49. Joining me is dagen, mcdowell, Jon Hilsenrath and steve forbes great to see you. Jon good to see you. Thank you. Maria top stories this morning, the u. S. Prevailing in coronavirus testing President Trump is touteding the success, announcing the states will receive an additional 11 billion dollars in funding that is specifically for testing. This major investment will ensure that america continues to conduct more the efforts than any country on earth by far. I said from the beginning, that the federal government with back up states and help them build testing about capability and capacities that is exactly what has happened. Maria meanwhile, the staff at the white house is now required to wear masks coverings after two Staff Members tested positive for covid covid19, senate holds a hearing on safelyly opening the country white House Task Force member dr. Anthony fauci told New York Times that he will warn lawmakers that the country will risk needless suffering death if opened too quickly. Chuck schumer urging the top Infectious Disease effort not to hold back telling him to quote let it rip at Senate Hearing dr. Fauci testifying remotely everything a modified Quarantine Head of cdc redfield and commissioner dr. Hahn expected to testify remotely this morning, elon musk 3450e7b8 defying a shut down order reopening only u. S. Plant in california tweeting out this if anybody is arrested i ask that it only be me. County officials north of from an ordered factory kraim closed musk says he is suing Alameda County, and threatening to move the tesla plant and entire headquarters out of the state and into nevada or texas. Tesla shares higher this morning ahead of opening bell stock up one and twothirds percent, china security concerns front and center President Trump ordered all federal retirement money invested in chinese equities to be pulled move tied to china mishandling of covered 19 two alerts obtained by fox business white house officials tell labor secretary scalia that they no longer want gift thrift savings plan to have money invested in products involving chinese equities this involves 4 1 2 billion dollars joining me right now on phone to talk more about that texas congressman Committee MemberMichael Mccaul thanks so much for joining us. Thanks for having me maria appreciate it. You know congressman i asked why you jeanne scalia about this a couple days ago last week on the show this has been bothering me over a year i couldnt get my head around a he 401 k plane requirement money for our military men and women past and present putting 10 that have into msci index that indices is home to so many Chinese Companies many are building equipment for the Chinese Military, some point may be used against us. That is right, i wrote oped on this o last november before covid hit, how retirement system is haefl invested in stocks in china tied to the Chinese Communist party part of their National Military industrial complex, i think president making right call here to pull out and pull out all the employees federal employees Retirement Savings that are invested in what is becoming now, our biggest foreign nation adversary. Incredible that was the plan knowing behavior of china i guess one issue is around Civil Military fusion right . Because when you Jonathan Ward first came on this program and sunday morning futures from the organization explained what Civil Military fusion is any innovation anything brought into chinese economy to Chinese Communist party must first be brought to military that is priority, right . So that they can become number one military power. Thats right not a democrat like this country noose they have no freedom liberties, that Chinese CommunistParty Controls everything in state every technology, military innovation belongings to the state that is simple as that, that is why you know again last november i called for divestment out of Chinese Companies that we know at behest of the Chinese Communist party, that has really brought again, i call it worst coverup human history, biological bombs nothing seen since 1918 spanish flu, as chairman of new China Task Force, i have taken this issue head on origins of virus what happens what can we do to stop it how can we decouple ourselves from Chinese Communist party talk the supply chain talk about military posture how they are involved in espionage in our academia, how they have stolen so much intellectual property, from the United States, i say really time to bring manufacturing jobs as well semiconductor back here to the United States. This is all exactly right, these are all very important issues on i am glad that you are running this task force, let me ask you about the supply chain because i think, this issue, and last couple years, and President Trump changing the conversation, around china frankly has opened up American People eyes we cannot rely on 70 active ingredients. Springs drugs iboy progressivein penicillin, 70 ingredients made in china what are you doing to get, ineffectives companies to bring supply chain back to america . Youve got to believe there has to be some ineffective here right so what are you going to do drits, tax incentives what is it going to be you feel could you move the needle on that supply chain coming back to america. You are right i think one takeaway eyeopener to American People is we are heavily reliant on Chinese Communist martyr for medicines, the protective equipment for medical supplies, and our Technology LikeSemiconductor Chips. So i think we do have to he incentivize or private sector through tax incentive, to bring these supply chains out of china and more favorable countries democracies in asia that also bring them back here to the United States my district maria, right down the street ive got samsung, apple. Why arent we making manufacturing Semiconductor Chips here in the United States right here at home . Umhmm, do you want that to be part of the surplus package relief package package four i know nancy pelosi is working on this at home she hasnt come back yet, and there is some worry that she her ideas no voice from members she is going to call for upanddown vote kev told me he wanted to see the supply chain in stimulus package that is going to happen. I think would it be fantastic, we are pushing for that, about obviously, Speaker Pelosi department of always listen to us. That is we are not in majority but this is an issue that we think i think this would be bipartisan issue should be manufacturing jobs back home to the american worker, and so i think every american when i like this whole issue of china it is it polls very high most Americans Care whether republicans democrats i think should exercise in phase four help working man and woman out bring more manufacturing jobs back to the United States, we spending all money for gods sakes we ought to be investing in manufacturing here in the United States getting the off reliance on china a National Security threat to the United States. By the way, we are going to need it with this economy shut down because the Service Sector that has been slammed right Restaurants Hotels you are going to need to get manufacturing here to get that part of the economy churning again congressman good to see you we will be watching your developments and your efforts certainly in the coming weeks Michael Mccaul thank you, sir. We will see you soon we have a lot coming up this morning a lot to talk about coming up the ceo of mylan labs Heather Bresch here on supply chain worries, and luckey defense growing tensions with china dont miss that. Back in a moment. Ovated the guest room, so you can live with us. Im good at my condo. Well planned, well invested, well protected. Voya. Be confident to and through retirement. Stay cool. Hot. When its cold. Stay warm. When theres a lot to do. Do it all. And do it right. Without breaking a sweat. With the comfortable, versatile new kubota lx series. Frontlines of fighting pandemic firstquarter earnings yesterday revenue jumping 5 customers stockpile on asthma medicines ahead of the lockdown, a cold medicines as well joining me Heather Bresch great to see you again thank so much for being here. Hi. Good morning so tell me about the quarter i want to get your take on what you saw in terms of the incredible demand on drugs to treat cold you have coastaled ze, asthma medicine characterize the quarter where was the demand. Sure. Very good quarter, as you know covid hit about geographically different points in time the rest of the world segment actually, at the largest impact from a pullback perspective, but europe, north america, europe very strong sales, as you said, from our respiratory prulths hospital medicines very muchneeded, burden on Health Care Systems are incredible, and United States kind of for the quarter only two to three weeks in march we really started seeing that demand surges in product overall very Strong Quarter but i would say minimal from a covid perspective. Mayan labs produces often talked about old malaria drug hydroxychloroquine tell me about that debate around this drug how effective it could be for covid19 you ramped up production. We did. And it is a product that we made years ago, and know we felt that anything we could do to help ease the burden again surges were happening i think importantly you know maria, waiting for science is incredibly important i think weve seen that if we get ahead of Clinical Trials really understanding how products work in bodies, is just paramount to being toonl able to treat diseased irrespective what happens with hydroxychloroquine and covid that demand scars ty for patients rely on medicine, Rheumatoid Arthritis getting product in spline chain i believe was beneficial regardless of the outcome. Do you have any information in terms of effectiveness on covid19 looking at studies saying it is not effective but, of course, we know officially we thought it was the president talked quite a bit about hydroxychloroquine. Right. I dont, i think what is important there are very large trials happening who one of them solidarity trial testing several drugs i think probably early fall before a good statistic arch whether drug works or doesnt. This pandemic revealed so much about dangers of reliance on supply chains overseas in particular china when it comes to Critical Industries like medical sector 70 those ingredients active ingredients in our prescription drugs are made in china, tell us your experience, with that. Look i think theres probably nothing more important than securing americas medicine and supply chain but i think we needed to be thoughtful about it not only do we have a very Global Economy you have been reporting on i think quite a while but globalization of having access to medicine is real. The reality is there is no one country that can supply everything they need for their patients. And within that country. When you think of starting ingredients as you mentioned, many from offshore United States hasnt been a player in the starting ingredients in a scaled way for decades if ever, i certainly believe there are things we can do to incentivize, more manufacturing, but what we need is to really have first things first think about a list of critical medicines then be able to start securing them, and strategically aligning ourselves with countries you know we know we are smart we know how to do this, we know how to have strategic allianceness sourcing we need to do it in a consistent he sustainable pay what incentives would you want to see to bring supply chains to america tax breaks what . What would it do . Look, i think most importantly, you need demand at the end of the day. So you know, there is upside those keep us of incentives are okay i think more importantly is knowing there is going to be demand for your product at competitive level, so whether, sourcing contracts Domestic Production is available, i think that we need like i said to really look at list of medicines needed, and know that we are going to have to be relying on ingredients and manufacturing outside u. S. If available, he domestically to he incentivize that group multiyear contracts you know youve got facilities able to be sustainable. Quick before you go you are merging with upjohn unit of pfizer is the deal still on or pushing it back. The deal is absolutely still on we believe we are on track to be to close transaction second half of this year. Okay we will leave it there great to talk with you this morning thanks so much great information from you come back soon. Heather bresch. Well be right back. Stay with us. Maria welcome back streaming services record subscribers and viewership during coronavirus pandemic and shutdown except one quite a bite quibe the Service Started katzenberg rolled out, 125th in downloads designed for viewing short clips as you users commute to work katzenberg blaming problems on coronavirus as people stay home dagen we talked about these kinds of videos, these are short, designed for commuters so i guess you are not watching short clips when you are at home. Dagen i watch short clips all day long on instagram the account if content and youtube even if content was compelling people would be gravitating to this i think they have a content problem one they are going to make it easier to share content on other social media plat forms advertising on quibe as well a long way to go attracting eyeballs, a break then Economic Data april cpi numbers right after this break. Stay with us. Every Financial Plan needs a cfp® professional confident Financial Plans, maria welcome back, good tuesday morning. Thanks so much for joining us. Im maria bartiromo. Tuesday, may 12, 8 30 a. M. Eves awaiting breaking news impact of coronavirus having on american economy, we will get Consumer Price index for april right now economists expecting a decline of 8 10 of a percent monthovermonth would be stooecht decline since december of 2008, indicate no inflation, ahead of the numbers futures higher we are expecting a gain about 100 points on Dow Jones Industrial average, this morning, it is up a half a percent nasdaq 30u7 points s p 500 up 8 3 4 we have fox business alert are moderna receiving a fasttrack designation from fda for vaccine against coronavirus phase two study of the vaccine expected to a begin shortly, with phase three set to begin in early summer, the stock is up, 3 on this news, to other breaking news cpi for april to Cheryl Casone we go. Cheryl we are getting the monthovermonth came in line loss of 8 10 of a percent in line as i mentioned that is the lowest gain that we have seen since december 2008, but core down 4 10 of a percent core coming in down 4 10 of a percent monthovermonth estimate. 2 excludes food and energy monthovermonth headline number, yearoveryear core 1. 4 yearoveryear core 1. 4 would make more sense obviously, as you can see, the over your numbers we expected to see slowest numbers we had since october 2015 just above that barely, from the estimate. Again, so monthovermonth in line down 8 10 of a percent yearoveryear up as well the core the yearoveryear up 1. 4 maria not seeing a huge rebound in markets we had been up yearoveryear kind of close we have seen behavioral since october 2015 slight gain on that yearoveryear number we were watching maria. Maria we are seeing markets pretty much hold steady this morning, no major impact but this has to be good news because the fact is weve been waiting to see if were going to see Inflationary Pressure as a result of all this free money so far, we are not seeing that, certainly not consumer level cpi down 8 10 of a percent dow industrials up 87 points shy of high of the morning we want to look at emerging Technology Defense contracting jul industries combining Artificial Intelligence with Drone Technology to create cutting edge defense tools leading to contracts with pentagon uk Ministry Defense and expanding into seattle is as well company in growth mode joining us right now founder of the Company Palmer lucky great to see you. Thanks very much for being here. Thank you fo so much for having me maria. We talked a lot over the years about what you are doing, a. I. As well as china threat first off let me get your take on how you see the military readiness right now whether or not covid19 has crippled our military hurt our military, what is your view in terms of the impact from this pandemic . I wouldnt say crippled the military that is not what i am hearing from my of my contacts but making job a lot more del longer that lockdown goes on harder their job is go getting we are o getting to the point we cant train new tank drivers they cant put them in tanks because too close to each other so training them playing video games, on video games, that is how i made money basically Virtual RealityVirtual Reality to facebook for billions of dollars you are not going to hear on video games but we need to these are going to catch up defense firms struggling because of slowdown unfortunately some losing talent to companies more stable through this crisis. So the Big Tech Companies facebook stock, as well as before coronavirus seeing with other Technology Companies as well, so i am kind of worried about Defense Industrial base losing some best people to organizations that figured out how to thrive rather than be slowed down. Maria that is a really good point i am glad you mentioned video games, because you foundeded oculus popular sold to fake now Defense Technology noticing like crazy i want to ask about business how are things going i know contracts across Government Department of defense, dhs, throughout pentagon what can you tell us about Business Today and the innovation that this country has been able to create when it comes to military like drones like you are doing . Sure i think we are doing better than most companies, so essentially we have been able to keep operations going, same pace were doing before a lot of Software Developers working from home a lot of, other Development Working from home but, of course, still people need to be in the office, in the labs, out in the field doing support for customers u. S. Marine corps u. S. Affairs, u. S. Customs borrowed protection what we fundamentally do build Artificial Intelligence that allows people and no issues Work Together to accomplish very very important tasks, and right now, robots are more and more able to do things you wouldnt want to put people out the do if you can reduce number of people in the field you can make it easier to keep running doing during Something Like coronavirus, not proud of being able will a really good point when i came to your drone zone, showing pictures of you showing me one of your innovate drones you were telling me this drone or some drones you can actually zero in and see people from how many miles away . I love the fact that you are detecting where people are not who people are it is very different than what china is doing china is tracking everybody, and they are they have camera on everybody you are detecting where people are if around military bases, how far can this drone we are looking at record . So it is capabilities of the what we do build Technology Allows hundreds of drones, and swans towers other systems to all Work Together one high mind with hundreds of eyes that is our century sentry tars see two miles away, our drones half that range invisible gr shorter distance very useful tool we detect when people are threatening military bases we detect when people are threatening armed forces when crossing u. S. Border but not trying to say here who this person what is they are doing history what is they purchased that is chinese angle we have talked about this a few times the key difference between u. S. Facial recognition and chinese facial recognition efforts u. S. Our military is primarily focused on using Artificial Intelligence to protect us from foreign threats, in china, they are primarily used Artificial Intelligence to protect themselves from a potential civilian uprising using this to monitor their own people own citizens to try to control what they are doing very did i very different from the u. S. China, chinas military power because the communist party footprint expanding across world threatening americas place certainly retired general jack keane highlighted this during fox Nation Special america versus china here is what he said. The Fastest Growing military in the world the National Security strategy as penned by President Trump and National Security team said china represents longterm strategic threat to u. S. National interests. That will begin to unfold, before our eyes. Maria we were showing our while talking showing that military parade that china did last year remember that when they show indicatived all weapons, some one major weapon was actually able capable of hitting the United States, give your take as founder of a defense contractor do you see china as threat to the United States and allies . Are you worried about whether you know, your technology is safe from chinese theft are they trying to steal your secrets as well . I am sure trying to steal my secrets i have havent caught anything obviously, do everything we can to make sure that doesnt happen. As far as china being strategic threat i absolutely do agree that is the reason i got into the Defense Industry i could have made a lot more money had more fun staying in consumer longestings he electronics i left facebook to get into about National Industry so concerned about a, chinese doing so well in technology, and b, the most notice of firms in United States refusing to do work with department of defense you dont see that in china partly because they dont have a closing i working with Chinese Military whether they like for it or not i am not saying we should change that should be forced to work with u. S. But think twice about opting out of working with dod, taking this thing taking no position birx not working with dod it is take taking a position that is hugely hel china not just nearterm but long run as well. You make really good point we talked about this before because google walking away from that pentagon contract, and you you said you know when that happens look we cant have leading Companies Walking away from government, when they need u. S. Companies innovation most. Right, this is pretty unique point u. S. History there has never been a point before in u. S. History the most notice of Technology Companies were shying away with work from dod i will a about blooveliever if working f dod proudly say that never back down why i started my company invest in Defense Companies right now the biggest problem there is not that many people who are willing to do that purely for ideological reasons, we have talked about this before, whoops . We talked about this before, but there is only been two unicorns in Defense Sector last 30 years in United States unicorn private Venture Backed Companies worth over a billion dollars makes it hard for investors to want to invest in dod focused companies in the United States one of the things i am most concerned about in this crisis the government kind of crediblinging wag on these easy way out leaving some high and dry not talking about myself plenty to keep my Company Alive but smaller companies. You wrote oped about that it was great oped talking about who really should be the money you didnt take ppp money i want to ask a fox business exclusive Trump Administration cutting ties between federal Retirement Funds chinese equities citing investment risks National Security talked about this a long time some in congress believe china is stealing u. S. Technology from within our shores i spoke with senator tom cotton sunday morning futures in april warns we should not of our visas to Chinese Students or references, watch this. Do you believe we should not give visas to Chinese Students who want to study advanced sciences. A scandal we have trained so many Chinese Party brightest minds to go to china compete for our jobs take our business ultimately to steal our property, and design weapons, and other devices that can be used against the American People. So i think we need to take a very hard look at advise nazi we give chinese nationals to come to United States to study especially postgraduate left advanced scientific technological fields. I have been outraged think of the funds retirement money military men and women past and present a portion of that was invested in Companies Making military equipment, tanks that are going to ultimately perhaps be used against us, talk about that, that threat in terms of china trying to build what we have and also how easy or to have you to move supply chains you heard conversation we are having all morning neither to not be so reliant on chinese production of our prescription drugs. There are two, to this two things to know here chinese production china has two big impacts not just strategic impacts but also the Economic Impacts most people have been focused on Economic Impact saying bring back manufacturing to u. S. Out of china because good for our economy, but what we should be talking about, bring things back from china and to the United States for National Security, we cant afford to have some most advanced technology in other countries where they are stealing it misusing it abusing it in ways will eventually impact our allies something that blows my mind when people buy something that says made in the United States, or even one amly made in france made in italy made mexico some made in this country even in u. S. Can be made by chinese owned factories in those countries. I think that people are not circulate comfortable with that economically, good jobs are there, buts strategically do you really want these types of things to be made in u. S. By china owned companies that have to is it a stay be hold teen government that is you want an allied nation controlled by Chinese Company that again, it is really at the end of the day controlled by chinese government. I know that i am not very comfortable with that, good news earlier you said some people on hill are concerned about are concerned about chinas stealing ip using it all can i have ways i think probably close to one hundred percent, 99 , so i am glad to see recognitions of the problem. All right we leave it there exactly the point with Smithfield Foods owned by Chinese Company thank you for all you are doing you are patriot. Well be right back. Adversity came to town and said, show me what youre made of. So we showed it our people, sourcing and distributing more fresh food than anyone. We showed it our drivers helping grocers restock their shelves. We showed it how were donating millions of meals to those in need. We showed it how we helped thousands of restaurants convert to takeout and pop up markets. And how were encouraging all americans to take out to give back. Adversity came to town. So we looked it right in the eye. And it wont be us. That blinks first. Maria welcome back. Testing Technology Companies jumping into gear to produce kneels to detect coronavirus Grady Trimble is in illinois this morning with more on that, a lot of innovation going on there. Reporter pretty impressive we show how thermal temperature scanning works first already in place at several auto manufacturing plants as well as food and beverage facilities Meat Processing that is demo a camera looks like a second shot will show you what this camera is seeing you can tell my face off even though i have a mask tells the my temperature, the Electrical Group you see this kind of helping people get to normal high of. Technology will help restore new normal feel much like old normal we believe will help make the corrections, to remove our ppe help us get back to a normal feeling of life, unlayer all this type of protective measures we have had to take in the Business World night is in place at airports maria but could also be used at concert venues sporting fence as we move along in this process and if fact in some facilities where they are using this technology, they tell us thif noticed people temperatures above that 1001,00. 4 threshold take them aside for further testing a way to make sure that everybody getting into a building at least surface body temperature is below that fever threshold, maria. Maria wow, this is the new normal testing before you go to work this is where were going this grady attitude to see you. Thank you so much great reporting as always Grady Trimble in illinois, quick break investors waiting on americas reopening going to take you through it markets at highs now up 113 on the dow. Stay with us. I came across sofi and it was the best decision of my life. I feel cared about as a member. Were getting a super competitive Interest Rate on our money. Were able to invest through the same exact platform. I really liked that they didnt have any hidden or extra fees. Sofi has brought me peace of mind. Truly thank you for helping me prepare for whatever the future has in store. There are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. 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Maria welcome back, Federal Reserve launching a facility that will purchase corporate debt starting today, the secondary market Corporate Credit facility will primarily focus on Exchange Traded funds, there are ambulance to start purchasing debt directly, Jon Hilsenrath i want your take on this, the fact the Federal Reserve is going to be buying credit etfs, i got a text from one Market Participant here is what he said outrageous that fed will buy Corporate Bond etf hi yield etf prices high yields lotion maybe if they drop 50 might make sense the fact may be doing this suggests to me should i sell everything, your reaction. Jon i say one of the reasons that prices are so high, yields so low because of the fed announced they they were going to do this Program Market responding to thank it points to how aggressively the fed is responded to this crisis you know, maria, i want to make one other point we have been taking a lot this morning, about the u. S. Divesting in investments in china. You know, obviously, u. S. China he relations are taking a pretty the dramatic turn for worse one i think worth thinking about china owns a trillion dollars worth of u. S. Treasury debt. And you know i wonder as relations take a turn for the worse how that symbolize titfortat we might be looking at. I think about that do you think we are going to get threats they are going to booeb selling a portion this have . Remember in the middle of the recession greatest recession 2006 and then hank paulson wrote a book Dagen Mcdowell in hank paulson memoir wrote he was afraid of china and russia would get together start selling our securities our debt in bulk, to try and create disruption in the market. Dagen we are monetizing a debt the Federal Reserve, has kind of open ended mandate to buy he mortgages, about trshgs right jon . That is what they are doing so kind of more than monetary theory come to life so that is kind of us given well that making an unseemly hand gesture to china our fed can [laughter] or fed can buy debt right jon . Jon they can and absolutely are, actually the fed next meeting in june is going to be a big debate about this, i never thought china would be a big seller that would effect their currency but i think as relations get nasty that is a real possibility. All right. Lets take a break then come back with more mornings with maria. Stay with us. 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 looks like we will get a rally in about 30 minutes at the opening of trading. Thank you, dagen, jon, steve. Have a great day. Have a great day, everybody. Thanks for being here. See you tomorrow. Varney Company Begins right now. Stu, take it away. Stuart good morning, maria. We are looking for that rally. Good morning, everybody. Look, let there be no doubt. There is a fullscale revolt in progress against draconian lockdown rules. The revolt is gathering steam and the authorities are having a hard time coping with it. Exhibit a, elon musk. In defiance of the authorities, he has reopened his tesla factory in california. Hes not been arrested and the sheriff has not closed down the plant. Hes defiant. In pennsylvania, businesses in six counties threaten to reopen early. In one of those counties, the legal autri