Transcripts For FBC Mornings With Maria Bartiromo 20240713

The start of trading this morning after long Holiday Weekend, Dow Jones Industrial average better 500 points and s p 500 is also higher by 56 and nasdaq up 174. This after the dow, nasdaq and the s p 500 closed tout week of gains of better than 3 on the week as you see across the board. Another milestone today, the floor of the New York Stock Exchange will reopen but not quite business as usual. A look at the new restrictions coming up this morning. And turning to the 2020 race, former Vice President joe biden looks to take on President Trump on the economy, mornings with maria is live right now. Maria the easing of lockdowns and optimism of Vaccine Developments leads to gain this morning. Ftse 100 up 87, cac quarante in paris is up 63 and dax index in germany higher by 79. Spain announcing it is opening to foreign visitor this is july and germany ready to lift travel restrictions for other European Countries. In ash asia overnight markets looked like this. Planning another round of stimulus exceeding 8. 8 trillion. Meanwhile it was a weekend of protests in hong kong following china s rules and here on threats of proposed law and asking President Trump for help. Jimmy li at 7 00 a. M. Russias oil minister expect it is market rebalancing in june or july with the price of crude oil now back above 34 a barrel, up to and a third percent this morning. Now some of the other top stories that we are watching this morning. President trump bringing the nation a message of hope from fort mchenry. The president honoring our fallen heros and touting the strength of the american spirit as our country adjusts to a new normal. As our brave warriors have shown us from the nations earliest days in america we are the captains of our own faith. No obstacle, no challenge and no threat is a match for the sheer determination of the American People. Maria 5 states are easing more restrictions today, arkansas, West Virginia bars are opening for business and in ohio Fitness Centers and no Contact Sports getting the green light as well. Theres still no relief in sight for new york city, Governor Andrew Cuomo in new york dodging questions about a reopening date saying that expert projections about when areas would meet criteria have all been wrong. In missouri officials slamming party, crowds Standing Shoulder to shoulder on memorial day weekend. St. Louis county issuing advisory warning anyone who was there should isolate 14 days. Novaxx plans to test 130 participants in australia, resulted for july f if phase 1 is successful, phase 2 and including the United States. Stock is soaring this morning. Travel ban for brazil going into effect today, two days earlier than planned. It applies to noncitizens who have visited brazil within 1 weeks of trying to enter into the United States. Brazils deadly death toll surpassing the United States with more than 800 people dying in the last 24 hours of covid19, New York Stock Exchange reopening Trading Floor today after 2 months after pandemic closed its doors. They would be required to wear masks, observe social distancing rules and not take Public Transportation for work. Traders must sign a waiver that limits nycs liability in case anybody gets sick. Live golf over the weekend bringing in record ratings, Turner Sports says more than 6 Million Viewers watched as Peyton Manning and tiger woods faced off against tom brady and nicholson in florida. Brady med incredible pant and tore his pants. Rallies pointing to considerable move following Holiday Weekend. 500point rally. Markets fueled by the global push toward reopening the economy. States across the country begin to go partially reopen as some of the hardesthit sectors Like Airlines and hotels are also reporting a slight uptick in bookings, economies still see 6 to 7 economy, could have reached its worse point, fixed income adviser senior Vice President portfolio manager, ubs Financial Private wealth adviser alli mccarthy and president and partner of maslansky partners lee carter and Jon Hilsenrath, thank you so much for being here. Bryce, lets kick this off with you, do you think we have seen the worst in terms of the shutdown, bryce . Bryce i think we have. We will find out which places can reopen effectively and safely and which ones will see a spike in terms of the second wave of the coronavirus. We will get smarter and better as we move along through the summer and i dont think we are going to go back to a complete shutdown again and thats going to be great for companies because its really a race against time right, can they survive long enough before the economy comes back before they run out of cash or not. We need to get things back on track but we have to get smart about it. Maria we see the impact, alli mccartney and the president was canned last week would he shut down the economy if we get a second wave in the fall and he said, no, alli, the Economic Cost is also quite significant. Alli yeah, its extraordinarily significant and i think we will also see whether theres also a health and human related cost which Mental Health issues coming to the forefront as hospitals largely being closed down for elective procedures. Based on that my question to you would be if the worst is behind us, you know, then that does good scenario relative to credit . How do you feel about the tradeoff given that we are all hopefully going to assume that the worst is behind us and theres hopefully a better chance for upside surprises down downside . Bryce well i think that the reason the fed is pumping so much in credit markets because the stock market is incredibly dependent upon the bond market more than ever. Companies have taken on so much debt they need to keep rates low and they need to make sure theres lots and lots of liquidity. The fed just started buying Corporate Bonds last last couple of weeks. They only bought 1. 8 billion out of 250 billion still to come. They need to keep throwing money in order of that in order to keep the stock market up and i think they want to see good end of may and i think this week will be good for equities both from the economy reopening as well as the fed going to make darn sure that they end on good note by pumping into the credit markets. Maria great point, Jon Hilsenrath. Jon you know, i think we have a couple of forces pulling the economy, on the one hand theres pinned up demand. A lot of people want to get out of their homes, go out and shop or whatever and that should provide the economy a left, i think the thing that we have to look out for in the next few weeks is Collateral Damage in the job market. Its troubling that when you look at the weekly unemployment claims numbers that come out every thursday, theres still in the millions. Theyve come down by a couple of orders of magnitude out but we are still getting more people, new people layed off every month and on the one hand theres pinned up demand and on the other Hand Companies that are still trying to cut back on costs to manage their way through this thing and thats i think going to dictate what kind of rebound we get in the second half of the year. The pinned up demand kind of convince companies that its time to stop laying people off and time to start bringing them back. Maria what about that, bryce, what second half are you expecting . Bryce i think theres a ton of pinned up demand, you look at the difference between spending and income and the spending plummeted for consumers and plummeted for companies and yet their incomes hoarding cash and pinned up demand, what we really see impact from that in the second half of the year, im not sure. I think its really going to start in the Fourth Quarter to, you know, maybe even the first quarter. I think its going to take a little longer than people think but the stock market is going to anticipate that. So i think its still positive for equity and per earnings projections, once people can start to make earnings projection that is they have any kind of confidence at all then you will see a boost or lift to equities. I dont know that the Third Quarter is going to be that great but youre going to see all of the pinned up demand really start to hit and i think thats really an underestimated idea or point that you just made. I think its great. Maria i guess little by little we will get visibility that we need in order to understand where the earnings picture is by year end. Bryce, good to have you this morning, thanks so much. Bryce thank you. Maria we will see you soon, bryce doty joining us there. Coming up hong kong tycoon jimmy lie and doug collins here on the Michael Flynn investigation. And adam on testing and coming up at 8 00 a. M. Eastern, wyoming senator and doctor john borraso on washingtons actions to open reopen the country. Retired attorney general and analyst jack keane. Dont miss a moment of it. Big 3 hours coming up. China is eyeing more control. Hong kong the communist country trying to tighten grip igniting fresh of protests overnight. How leader carrie lam is responding. How schools will change permanently post pandemic, we will break it all down when we come back. These days, its anything but business as usual. Thats why working together is more important than ever. At t is committed to keeping you connected. So you can keep your patients cared for. Your customers served. Your students inspired. And your employees closer than ever. Our network is resilient. Our people are strong. Our job is to keep your business connected. Its what weve always done. Its what well always do. Maria welcome back, new laws proposed by beijing will not have an impact on human rights, lam added that no other countries have no place to interfere. Could be in place by the end of next month. Joining me to talk about founder of atlas organization, jonathan ward, thank you so much for joining us. The wall street journal is out with a good writeup of this this morning, when carrie lam came out and said this is not going to affect your human rights she didnt even know exactly what was going on or what the rules were going to be and when they would take effect. She didnt even know sort of what how to, plain it but she was sure that it wasnt going to affect peoples human rights, your reaction to all of this . Good morning, maria, this represents the communist party of china full takeover of hong kong, they are moving toward full takeover. What the National Security law means that the relevant National Security organs that operate in china, concentration camps, break up protests, detain people, those can operate inside hong kong. Mss, pip, Public Security bureaus, its the end of one country two systems. Maria why do you think its happening now, jonathan, we spoke to jimmy lia in the past, when xi jinping became dictator for live everything changed. We will talk to jimmy lai, what are your thoughts on why this is happening now, why china is asserting this extra might on hong kong today . Jonathan you think of what theyve done in the last few weeks, theyve threatened australia with raising tariffs on wine and brief, threatening britain with consequences if they remove hauwei from telecommunication systems. Theyve moved troops to Indian Border and taking action in hong kong which is always going to happen. The thing about china people keep expecting it to get better and not worse. You know, when they built concentration camps and put a Million People people were surprised, when they started cracking down on hong kong people they were surprised. People have to stop being surprised by the actions of communist china. The military has been asounding the alarm on china for years now. This is only going to get worse. At this point the threats that they are make to go taiwan are significant. The military ambition that is they have in the region are significant and on the day that any of those things happened, the end of the hong kong as we knew it is a big event, you know, World Finance and economics but i think its only going to get worse as the communists parties ambitions and abilities. Maria big event, huge event particularly for those business that is you have spoken about. Hong kong in my lifetime has seen International Hub equating to new york and london. A friend of this program, he tweeted this out yesterday. Youtube deleted every comment i ever made about the wumao internet Propaganda Division of the Chinese Communist party who google decided to censor and gets comments deleted by you tube because hes criticizing the communist party and their propaganda. Lucky, has been outspoken in the need for American Technology companies to stand up to beijings abuse, human rights, jonathan, your reaction because you said a moment ago that ceo needs to get it, this is one who does get it. People should be looking for any sort of influence there. There have been instances within companies of people selfcensoring in order to please the communist party. You cant please the communist party. What they want, whether youre a nation state or multinational corporations for you to pull the political line. Chinas use of economics for coercion, you know, whether its to smaller nation states in Southeast Asia or threats to the u. S. , we have to get a grip on where the relationship between china and the United States is headed and our ceos will have to start looking for alternatives. Maria jonathan, real quick, the troops that you mentioned of india, troops of india and china are face to face right now. What should the United States, do what should the u. S. Do . The u. S. Will have to show support for india in this moment. We will have to Start Building Multilateral Coalition between u. S. , australia, japan and india really has to move forward and we should have their back. Maria okay, we will leave there it. Jonathan, great to see you, jonathan ward, we will be right back. 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. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. Maria welcome back, america dealing with the case of blue state lockdown blues, the wall street journal this morning and the Editorial Board arguing the slow reopening in democratic states will hinder economic recovery there. The Editorial Board writes this, businesses need suppliers and paying customers. This is why the economic recovery will be especially painful in democratic states. State lockdown longer and businesses were struggling before the pandemic due to high rents, taxes and government labor mandates, Jon Hilsenrath, your reaction to this on the Editorial Board at the journal, let me just say that your colleagues on the opinion side of the paper this morning write that nearly twothirds of leisure and hospitality jobs in new york and new jersey and about half in california and illinois have disappeared in april compared to 43 in florida. Theres a real difference here, jon, when you look at the the construction losses, 4 of construction workers in florida lost their jobs, compared to 41 in new york. Jon right, well, let me say a couple of things. First of all, i appreciate that youre distinguishing between our opinion pages of the journal and the news side. Im on the news side so im not on the opinion side. You know, i would say that, you know, in the blue states particularly up in the northeast, new york, new jersey, connecticut, that was the epicenter of the coronavirus, so, you know, we saw an incredible economic shock there because because that was where the pandemic got started. It does look like its the case that the red states are pulling back their lockdowns earlier and we are going to get what we have here is National Grand experiment on what the right policies, the fact of the matter is we dont know the answer yet. Theres tradeoffs, if you pull back too quickly, the risk people say is that you get an up surge in this virus. If you dont pull back quickly enough, the risk is that your economy takes a hit and we are going to see how that plays out. The good news, i think, that we are heading into the summer months and that does look like thats based on the weathers affect coronavirus and that looks like it can be a chance for economies to breathe easier. My concern is what happens come fall and thats why im looking at brazil with some concern right now, why is it that south america is all of a sudden getting hit by the virus, because its cooling off down there and whats going to happen in the u. S. When its cooling off here. Maria yeah, lee carter, how much of this is political . When i spoke with the president last week, the president said that he believes there are some critics of his that would like to see the economy closed going into the election. I mean, look at the numbers, lee, 4 of construction workers jobs lost in florida, 41 lost in new york. Lee yeah, i think its devastating, no question in many, many states. I think of it less as political as saying we are going to shut down the economy to hurt the president and that theres a completely world view where you sit. You look at polling numbers. The expectation that theres going to be a second wave coming soon of the virus, 93 of democrats believe that its going to start right now, only 57 of republicans think that. When you look at towards reopening its where you sit. 26 of democrats are comfortable going to a restaurant if it reopens while 64 of republicans are. Changes depending on your world view and political stance. So i think everybody is looking at this through a completely different lens and its not just based on region and where you live, its very much based on political ideology. I think that the democrats believe that the role of government is to take care of us and republicans dont. We think that the world of government is to give us the freedoms that that we all appreciate and and thrive on and when you look at it that way, completely different attitude on the role that government should play and thats what we are seeing play out right now. Maria all right, we will keep following this and we are looking at the economic revival this morning, quick break and what to expect regarding another round of stimulus and the senate gears up to vote on next package, we will tell you when that timing is and saving every last sip, what busch is planning to do with all of its expired beer. We will tell you about it. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Unlike ordinary wmemory supplementsr . Neuriva has clinically proven ingredients that fuel 5 indicators of brain performance. 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Book your free virtual or inhome Design Consultation today. Maria welcome back, good tuesday morning. Thank you so much for joining us. Im Maria Bartiromo, it is tuesday may 26th, your top stories right now 6 32 a. M. On the east coast. Markets are pointing to a strong rally this morning at the start of trading after a long Holiday Weekend during reopening of business as cross the world and optimism over a Coronavirus Vaccine once again. Dow futures up better 520 points, better than 2 , the s p is up 58 and the nasdaq higher by 178, thats 2 there as well. On top of the dow, nasdaq and the s p 500 closing tout last week of gains of better than 3 as you see all the major indices up last week, the nasdaq up 3 and a half percent on the week. The easing of lockdowns and news of a novavax vaccine trial fueling this morning, the cac quarante in paris up 56 and dax in germany up 97 points, thats 1 and a quarter percent higher in euro zone. Asian markets rallied overnight. Japan lifting the state of emergency including tokyo and planning another round of stimulus in japan exceeding 1. 8 trillion. The nikkei average overnight up 2 and a half percent. Meanwhile it was a week of protests once again in hong kong following chinas introduction of new security laws. Hong kong carrie lam says the laws will not impact freedoms of her people but not everybody shares in that view. We will talk coming up in half an hour hong kong interand activist jimmy lai, he will be here live on the threat he sees from the proposed laws and why hes asking President Trump to help in hong kong. Jimmy lai with us this morning at 7 00 a. M. Meanwhile spain will welcome back International Tourists this summer. Cheryl casone with those details, we are all wondering when International Travel will pick up again, cheryl, back over to you. Cheryl yeah, maria, good morning to you, yeah, this news is coming as spain is seeing decline in covid19 cases. Tourists no longer in mandatory 2week quarantine when they enter the country. Second largest number of coronavirus cases in the europe behind uk and spain will open borders to foreign visitors starting july 1st. Well, a financial lifeline from the german government, berlin agree today bail out the airline 9. 8 billion and take a 20 stake in the company. The two sides have been negotiating a plan for weeks after the covid19 pandemic virtually halted all travel. Now this deal still requires approval from shareholders and the european commission, a lot of airline charts, frankly. Whats trending on foxbusiness. Com, first Human Mission since 2011, scheduled 4 30 p. M. Tomorrow, you can see it on facebook, instagram and twitter. Anheuserbusch has plan for beer that expired during coronavirus, they are expanding the bud light fresh initiative, replace beer, packaged beer thats aged and finally theres this, maria, jeopardy question features Maria Bartiromo and fox business, watch this. With Maria Bartiromos wall street, fbn. What is stock business. Cheryl thousand dollar question. A lot of us were pleasantly surprised to see you mentioned on the show, did you watch . Maria i love that. No, i saw it later and i love the fact that it was Maria Bartiromos wall street that was the show that they were looking for on fox business. All good, loved it so much. Big shoutout for fox business and cheryl and you. Maria thank you, cheryl. Thank you. Meanwhile we have this morning. A lot of news happening, senate expect today vote on 3 trilliondollar backed heros act providing more stimulus and critics say it will not pass many in washington are still weighing possibility of another round of aid. Bipartisan efforts on the Table Including one from Senators Amy Klobuchar to give a tax credit for those unemployed because of the crisis. Thank you so much for joining us. Good morning, great to be with you. Maria with all all of the stims im raising the notion that we are looking at the notion that its bigger or close to the size of the overall economy, talk to us about the debt threat, mia . The chances are that this year we will hit the National Debt is equivalent the size of the economy and that comes many years in advance of when we thought this would happen. I think the real issue here is not that we are borrowing during this crisis because thats exactly when you need to borrow, but we went into this moment so woefully unprepared where our debt was already almost as high as it had been the next highest debt since world war ii, right, and that came out after strong economic expansion where we should have been bringing the debt down. Our fiscal finances are weak and we are borrowing so much that suddenly this year our deficit will be close the other 4 trillion which was expected 1 trillion and i would add either of the numbers are jawdroppingly large, while the focus is clearly on the healthcare situation and the recession situation, what we need turn our attention to dealing with the threat as soon as we can. Maria how do you deal with it when you see what goes on behind the scenes politically . When the republicans want to raise defense spending, democrats want something else, well, we are not going to agree to this unless you would agree to more spending on on this, just look at the last rounds of, you know, of pandemic stimulus and you see all of this other stuff coming in from all of the ideas that have nothing to do with the pandemic. No, that is exactly dynamic thats been the problem with Fiscal Health of our country for so long now which is bipartisan corporation doesnt mean all sides recognizing that the first step to stop digging, stop making it worse and instead to start taking measures to deal with the things that are growing our debt. Instead what we have seen for years now, we will have a deal where one side wants to borrow and the other side wants to borrow and we will make the situation much, much worse. The ability to pivot to where we need to go, taking a strong look where the spend asking going and how the fix biggest government programs, how we are going to pay for some of the things, thats going to require willingness to confront the tough choices and i think youre absolutely right. We havent seen that recently. Youve seen instead both sides competing to see who can do more giveaways and the worst thing is we are starting to see in the economic recovery bills because this is not the time to be sticking your pet project into every emergency bill, this is a real emergency. And if we are going to borrow money and again this is the right time to borrow money, but we have to do so prudently and pick the things that really need help dealing with healthcare issues, keeping business as float so when the economy recovers well be able to have a quick and strong recovery and we need to target it and keep the political grab mentality out of this. Maria 38 million americans are out of a job looking for unemployment benefits. Jon hilsenrath jump in. Jon yeah, i want to ask you about the Interest Rate situation, maya. You know, some people are arguing, well, you know, Interest Rates are so low that we dont have to worry about the debt, that and you get this from both sides of the political spectrum that we can keep borrowing as long as the Interest Rates is so low and, in fact, we should because of the Interest Rate being so low, what do you make of that and whats your response . The first point i would make, jon, theres always a push for argument, dont worry, we dont have to pay for this, its so important we shouldnt pay for it or it will pay for itself. If those arguments sound too good to be true they really are and thats the case on economic theories around the debt. Just because Interest Rates are really low which they are doesnt that paying for something or spending up something is free. Pushing off when you pay for it cost a lot less. You borrow a trillion dollars, you will center have to pay somewhere and you can push it down with lower Interest Rates and Interest Payments but when the bills come due thats still a trillion dollars and if we dont want to pay for it we are pushing it to our children which is what we do so often and the second concern is that Interest Rates may not stay low forever, in fact, they very likely will not and if and when Interest Rates go up, the borrowing costs is huge, you know, massive debt that we have will skyrocket and that will throw an economy back into a recession. So what we should do we are borrowing a lot and Interest Rates being low is helping us tremendously but we still need to have a smart plan and that is 3 parts, focus on healthcare issue and economy ready for recovery as soon as we have dealt with pandemic and we can really come back strong and turn our attention, pivot over to National Debt and once and for all start figuring out how we will get that under control. The key here is the debt cant grow faster than the economy and thats exactly what its doing. We are on a track where the debt will go grow faster than economy. Maria maya joining us in washington. Learning under lockdown, more than a Million Students across the world impacted by the school shutdowns, how schools will change permanently once we get out of this post pandemic and back in the game, today Major League Baseball will make pitch to Players Union for comeback date when its hope to go restart come back with us, stay with us 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. Maria welcome back, learning out of the classroom entirely online due to the coronavirus. School low curious impacting 1. 2 billion children in 153 countries across the world but will Virtual Learning go on after the pandemic. Joining me right now of Artificial Intelligence company for k through 12 schools for universities. Thanks very much for joining us. Thank you, thank you for having me on the show. Maria talk to us about amesite and do you think learning online, teleeducation has legs and will pick up steam once we get out of this . This company was built to do that. This company was built to take educational products and learning Products Online because of the accessibility, engagement. Engagement possible online is excellent if we use the right technologies, will this go on, absolutely. We just did a grand experiment where 100 of learners went online from 5 or 6 in k12 to 100 and 33 or so in college learning, 100 went online. What we found is that the systems were pressured testing and some were found lack but it was possible just like grocery shopping, just like banking and telemedicine, so, yes, the future is online. Maria how come we know that it is as effective as being there in the classroom . How does Online Learning in america rank globally, for example, because i know the u. S. Has not ranked very high when it comes to compareing the u. S. Ant of the world. These are more more important than defense, the issues and education and china is raising ahead. We are in a competition. We are in a raise to deliver the best learning Products Online at all levels, k12 and college level. The future is in continuous learning. If you look at what Decision Makers are saying they cant find people with right skill sets to fill out positions. Ai is not just important to delivering learning but transforming business and for National Competitiveness we have to stay ahead. The way to do that accessibly and afford by is online. On ground is important, on ground will all be important but not mastering online is not an option anymore. Online is not a nice to have but a need to have. Maria most important advise to give to parents who are considering online once we do get out of this . Look at the quality of the teaching and the quality of the technology. Look at the quality and thats a new metric for education, but its going to be a permanent metric. Maria ann, great to have you this morning. Really important subject. Thank you so much. Mornings with maria right after this mutual healthbridge is a free Life Insurance program just for healthcare workers fighting covid19. Learn more at massmutual. Com healthbridge learn more at massmutual. Com healthbridge i am totally blind. And non24 can make me show up too early. Or too late. Or make me feel like im not really there. Talk to your doctor, and call 8442342424. Maria welcome back. Time for morning buzz, first audiotape baseball preparing a comeback, Major League Baseball reps reportedly will make proposal to Players Union with compromise to 50 50 revenue sharing split setting table for a return later this morning. The comes after the Tampa Bay Rays a held voluntary practice on monday afternoon with players working in pairs and avoidingvoe weight room. Jon, do you think we will see players in the summer . Jon i hope so. I think the whole country needs i dont care if we need to go to stadiums, we need to watch a game on tv once and for all again. Maria by the way, celebrity Golf Tournament this weekend had eyeballs but thats a whole other conversation, elon musk and grimes changing babys name a bit. The baby formerly known as xia12 has now had the number 12 changed to roman numerals, quote, looks better tbh, alli, has the name controversy has gotten out of hand . Alli quite interesting, theres controversy sounding elon musk and seem and baby momma like it that way. I guess itll keep oncoming. Very interesting to have distractions and things to focus on right now. Maria yeah, thats true. Finally this, celebrities remembering fallen heros this memorial day, watch. We have just completed the challenge, i love that it was designed to help push us, help humble us and dedicate a little bit of pain and sweat to the man who gave everything he had. Maria yeah, that was dwayne the rock johnson after performing the murph workout challenge named after murphy and lee carter, how did you mark memorial day . Lee oh, i marked it with my family and i always do some planning to try and just memorialize and remember all that weve all that was lost for all of our gain and its always a really important day for me and i love seeing people pay tribute and i love what they said, so great to see, love seeing their flags and starting to feel little bit normal again. Maria yeah. Well, we thank all of those who have given the ultimate sacrifice on memorial day. We are honor them all year. Still ahead hong kong tech tycoon and advocate jimmy lai as china looks to tighten control over hong kong. We will take a look at hong kong next hour. Mornings with maria, stay here music right now is a time for action. Thats why usaa is giving Payment Relief options to eligible members so they can pay for things like groceries before they worry about their insurance or credit card bills. Discover all the ways were helping members today. Maria welcome back. Good tuesday morning. It is tuesday, may 26th. Your top stories right now. The race for a vaccine continues. We are expecting initial results in july. Getting america back to work, from retailers to restaurants opening to travel bookings and Mortgage Applications rising, there are more signs the economy is starting to rebound in the United States. The reopening of Major Economies across the world, hopes for that vaccine pushing futures higher this morning. Were looking at a rally of almost 500 points out of the gate this morning. The nasdaq is higher by 158. This on top of a good week last week. The dow, nasdaq and s p 500 closed out the week with gains of better than 3 across the board on the week. Global markets this morning are also seeing a firmer tone, european indices are higher across the board. Take a look at the fq100, up 72, the dax in germany up 77. Asia overnights markets rallied there as well, nikkei average up 2 andahalf percent. There was a weekend of protests in hong kong once again, following chinas introduction of new security laws. Hong kong leader carrie lam says the laws will not impact the freedoms of her people. Coming up, hong kong entrepreneur and activist, jim any. Lee , jimmy lai on the threats he sees from the proposed laws. Is coming up from the front lines in hong kong this morning. Joining the conversation, lee carter, Allie Mccartney and Jon Hilsenrath. Our top story this hour, hong kongs leader says the new laws proposed by beijing will not impact the freedoms of her people. Lam added other countries have no place interfering in hong kongs internal affairs. The measures are set to be approved by china later this week and could be enforced by the end of the month, next month. Joining me now is next digital founder, jimmy lai. Jimmy, it is great to have you this morning. Thank you so much for being here. Can you first tell us, how are you doing . There are reports that they want to arrest you. Tell us about your own safety and whats happening on the ground in hong kong this morning or this evening for you, obviously. Well, people are very desperate because the new National Security order, which definitely will take away our rule of law and freedom, so people have two choices. Either to emigrate or stay and fight. This is becoming very dangerous, this crisis is becoming very dangerous. Maria tell me what the expectations are tell me what the implication of the new laws that china wants to put in place. Well, the implication is the media would be dead. Whatever you say, they could say that is whatever they want to say, they can charge you. So the media is dead. So People Like Us who are dissidents who fight to freedom will be under arrest and maybe sent to china for trial. The whole place will be hong kong will not be the same as it was before. So we will lose our freedom and rule of law and thats the end of hong kong and hong kongs Financial International Financial Center. Maria well, i mean, thats the whole thing. You would think that the world would be unnerved by all of this. Hong kong is a Financial Hub and people equate it to london and new york but its anything like that over the last couple of years. Jimmy, when did things start to change. You have xi jinping in china as dictator for life. Is that when things started to change significantly in hong kong . How do you see it . Yes. The ascension of xi jinping, things became worse and worse. The erosion of hong kongs value and the rule of law is very slow. Its getting worse and worse. So, yes, xi jinping as a strong man tried to have hong kong become subservient to his rules, to his dictator rules. Maria so jimmy, there is an article in the wall street journal, the peoples republic versus jimmy lai. Youve been arrested a couple of times already. You are on the front lines of these protests. Tell me about your own safety. Do you fear for your own life . They do want to arrest you again, right . How are you continuing to stay free when you know right behind you have people looking to lock you up . Well, im not thinking about my safety at this moment. Im thinking of how should we keep on fighting. Theres no way i can think about safety. If i think about high safety, i always have about my safety, i always have to think about the consequences of what i do and what i say. I would never be able to do anything. The only thing is for me to do the right thing and fight on. Im 72. I dont care what happens to me. It doesnt matter. What matters that i can still fight on. Maria jimmy remarks do you think the jimmy, what do you think the goal is here for china with all of this overreach . The handoff, there was an agreed upon partnership that it would be two different systems. Now youve got troops of india and chinae engaged. Youve got troops facetoface with india. Youve got china trying to overextend into hong kong. Whats going on . Well, i think that xi jinping is just taking advantage of the virus pandemic to deal aggressively with the world, especially to deal with hong kong. He thinks that this time the whole world is in crisis, that he can have the space and room to take care of hong kong without other countries reacting to it. But this is a dream. President trump already said that there will be serious consequences if they impose the National Security law. I hope President Trump will do what he says and President Trump has always been doing what he says. So im very confident that u. S. Administration would do something to save us from this crisis. Maria because i think the rest of the world will get impacted at some point as well, not just hong kong. I mean, you recently joined twitter, jimmy, and in just four days youve gathered almost 50,000 followers. Youre putting information out there. You tweeted this, im proud of being a chinese and i love my country. Unfortunately, my country is run by the Chinese Communist party, an evil regime which makes suppression a way of life. I also like taiwan, where i can be free and proudly a chinese. Lets talk about this. The rest of the world should be concerned with the communist partys goal of dominating the world. What can the rest of the world do . What do you want to see from the u. S. And its allies. I think its a good time now, the world especially america confronts the ccp. When the chinese economy is at its worst in the last 30 years, and economically and politically i think xi jinping is in a very risky position. This is a time to confront china. This is the time to change china in order to change the world. Without changing china, which holds a very opposing value to the world, we will not have peace unless china is changed, to accept the values of the free world. Maria but jimmy, how are you going to get the Chinese Communist party to change, even in the middle of this pandemic theyve cornered the market for productive equipment, theyre continuing to steal intellectual property. Weve heard that from a number of senators. They want to beat us to a covid19 pandemic and they have a million uyghurs locked up in camps right now. Censure them. In the u. S. , in the world, sanction their technology, or stop sending Technology Products to china. So many ways the u. S. Can do, to give pressure to china to change. They can do whatever they would like within their own country, but they have to follow the rule when it comes when they deal with the world outside. Maria jimmy, give us a sense of what its like on the ground in hong kong. Many of us know hong kong as an International Hub. How have things changed from your Vantage Point on the ground . Well, people are very nervous. The stock market dropped like crazy and also the start of the Property Company dropped, that tells you that the Property Market is going to drop. Very much. Because people are leaving with their money. The people from china bought real estate in hong kong not just for the real estate but for the safety and the rule of law and which they pay a high price for. Now they dont feel safe anymore. They dont feel hong kong has the rule of law to protect them anymore. So theyre leaving with their money. Maria and we should point out there are many young people on those protest lines along with you, right, jimmy . Because theyre afraid. Right, right. Maria that their future is not what they expected. A lot of young people who thought hong kong would be a different place for them as they get older and start businesses or go into business. Yeah, thats why the young people especially are not giving up. On sunday, there may be 10,000 young people camped out and protesting. Which is very important because the new National Security law was announced to be imposed just one or two days before and people just breaking out in the street. That gives us confidence to go on our resistance movement. People on the ground maria do you think people leaving hong kong and going elsewhere, are they going to australia, are they going elsewhere to spend their money and buy homes there . Definitely. What we can know that is the Google Search and the social media talk, the most hitted topic is emigra tion. People are looking to leave now. A lot of people are exploring the possibility of going to taiwan, so i hope the taiwanese, the taiwan president will give hong kong people more liberal permit to emigrate to taiwan. Maria right. Not just talk, to stand with us. Maria you have shown incredible courage and leadership throughout this, jimmy. I know that youre going to be there on the front lines, continuing. We want to hear from you regularly, jimmy. Our audience wants to know how things are going. Please come back soon. Are you expecting to get arrested . Yes. Maria when . It doesnt matter. I dont know. Im going to be in court on jun4 prominent dissidents. They arrest us for the purpose of the intimidation, those hong kong people who tend to go on the street to demonstrate, to isolate those radical young people which is only a small part which they can easily handle. So we as the hong kong people cannot be frightened. We have to go on and demonstrate and protest. Thats one thing that we have to continue to do. Maria okay. Jimmy, we will be following your fight. Thank you for your fight of freedom and we certainly are supporting you here in the u. S. Well be watching, jimmy. Thank you so much for being here. Stay safe. Thank you, maria. Thank you for your help. Its very important for us. Thank you. Maria jimmy lai, thank you, jimmy lai in hong kong. Stay with us. Well be right back. 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. Dont miss the final days of the memorial day sale, save 1,000 on the sleep number 360 special Edition Smart bed, now only 1,799. Ends sunday. Maria welcome back. We just heard from next digital founder and founder of apple daily, jimmy lai. He is in hong kong. Joining me now in georgia is georgia congressman, doug collins. Always a pleasure to see you. Thank you so much for being here. You just heard from jimmy lai. Your reaction . It is stunning. It is really stunning. The ccp, the Chinese Communist party, they have shown themselves to be the authoritarian regime that we have been pointing out for many years. They are more controlling everything youre trying to get in touch with. You and i talked about the issue, he made mention of how do you get at them, you attack their money source. Thats what our bill does right now. It goes after them as if they dont come clean with the international community, if they dont release the hong kong dissidents, then were going to put asset freezes on the top official, limit their travel, were going to limit their access to Financial Markets here in the United States and around and international communities, putting pressure on them. Thats the way you get back at them on this issue. I think thats the best way to do it. Jimmy is amazing. That is apatriot, somebody standing for freedom. We just observed memorial day where people that die for the freedoms we cherish. This is something that is fighting for those freedoms right now as we speak. Maria thats exactly right. And your legislation in terms of Holding China accountable is exactly what he said. Youre right. He talked about sanctions. He talked about following the money. Exactly what your bill does. How much support do you have for your bill, congressman . I know there are a lot of bills right now in congress, up to 60 bills or so, that are trying to hold china accountable in different aspects. Yours is following the money with sanctioning individuals. There are others that basically just have incentives to take the supply chain out of china. Yeah, i think weve got to go after them. This is why we partnered with senator graham, he has the Senate Version of this, we have the house version of this. Were going after the into the heart of the problem itself, that is the communist party in china, were going after the government structure, going after their top leaders. You and jimmy hit it perfectly. If you want to go after them, go after their money. They dont care about human rights. They abuse their own people. We saw it with the virus epidemic and the pandemic breakout. They know that to maintain a world standard and the power they have, they have to have the economic standing, access to liquidity and capital. Thats where you have to hit them at to get their attention. Thats why President Trump has done such a great job getting their attention on trade. He went to where they needed to be hit, that is in the pocketbook. Maria its extraordinary. Well keep watching that and have jimmy lai back. Its expected that he will be arrested once again. Hes fighting for freedom and for china to keep its promise. Let me turn to the case of Michael Flynn. Judge Emmett Sullivan hired high profile Trial Attorney Beth Wilkinson on the heels of his decision not to dismiss the case against the former National Security advisor which the Justice Department already requested, drop the case. Congressman, your reaction to this . What does the judge want . Does he want to be judge, juror, prosecutor and now going to bring in his own defense team. This has become a circus because the judge will not do what the law requires. The prosecutors say they want to drop the case. He turned it into what it looks like, more of a political circus because he doesnt like the outcome. My question is, when does the judge get to also not only just interpret law but make the law, make the prosecution and go through with that. I think im bringing his in own attorney, because the Appeals Court called him on the carpet on this, its an interesting prediction. It shows the judge is out there in unchartered territory. This needs to be looked at. Maria unbelievable. Congressman, good to see you this morning. Thank you so much, sir. Take care. Maria congressman doug collins joining us there. Stay with us, more mornings with maria after this. 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. Markets are higher this morning, futures indicating a gain at the start of trading, the dow industrials up almost 500 points, 2 . The s p is up 54. The nasdaq higher by 156 after a good week last week. Markets fueled by a global push toward reopening the economy. States across the country beginning to partially reopen as some of the hardest hit sectors Like Airlines and hotels are reporting a slight uptick in bookings. Economists are seeing a 6 to 7 contraction this year, signs showing the economic downturn may have reached the worst point. Joining us now is Larry Mcdonald. Thank you so much for joining us. What are you seeing in terms of the appetite to invest and the expectation for the economy as more states begin to open . All 50 states are now open in one regard or another. A lot of goodwill is being priced in now. I think on the International Front youve got to remember, the Trump Administration has been very aggressive on china. Theyve got a big lead in terms of the voters mind, in terms of being more hawkish on china, thats very supported across middle class america and the democrats really their playbook is to take over trumps lead on china. So youre going to see in the next three, four weeks a lot of aggressive tactics coming out of the democrats which should try to force trump to even take a harder line on china. That should be a problem for the markets in the next three, four weeks. Maria well, larry, what about the situation in hong kong . We just spoke with jimmy lai, hes on the front lines of this protest. He says if this keeps up, hong kong is over. There are growing calls to hold china accountable amid the coronavirus pandemic, certainly from the cause of the virus to potential human rights violations. Its also one of the major issues of the 2020 election. The president tweeted this yesterday, nobody in 50 years has been weaker on china than sleepy joe biden. He gave them everything they wanted, im getting it all back. It sounds like were in for the long haul in terms of a conflict with china, especially when you consider whats going on this morning in hong kong. Yes. Exactly. Trump is pegging him as joe biden on as sleepy joe on china. Biden to defend himself will have to take a harder line. Heres a big thing for investors to hold right now. This is so important. If you do the math, if you look at the msci which is the big global index of equities and you look at the bloomberg, barclays credit act which is the fixed income pool of capital, the amount of money that is scheduled or on pace to go into china is 1. 2 trillion over the next four years. 1. 2 trillion. And theres a number of leaders in both wall street and in washington that know this. This is massive leverage. China needs our capital, more than we need them. Everybody talks about theyre buying our treasury, that is complete baloney relative to the real world. Youll see more push back from rubio, on this pool of capital that china wants. Maria larry, let me bring Jon Hilsenrath in here real quick. Jon. Jon were talking about china. Lets talk about the Global Economy. Were starting to see signs of possibly some green chutes in the u. S. Does that extend to the rest of the world at a time when brazil is shutting down and we still have all these problems in asia. Is the Global Economy set to rebound in the second half of the year . Hi, jon. Yes, good to talk to you. Yes, thats the the big opportunity right now is commodities and emerging markets. Because countries like brazil havent priced in any goodwill in terms of a rebound. Commodity in countries like brazil, chile, these equities underperformed the s p by close to 35 over the last year. So youre going to see a big improvement in those types of economies, as the green chutes pick up. More importantly, the commodity sector globally because of the shutdowns, 67 of the global mine, in mining for copper, for example, has been hampered or shut down. As capital starts to flow around the world again, theres really going to be a massive shortage in commodities so you want to be lock in long in commodities. Maria thank you so much, sir. We will see you soon, Larry Mcdonald joining us in the face of a strong rally in equities. Stay with us. Well be right back. Maria welcome back. Good tuesday morning, everybody. Thanks so much for joining us. Im Maria Bartiromo. I it is tuesday, may 26th. Your top stories right now, 7 3. Futures pointing to a triple digit gain at the start of trading, due to the restarting of businesses across the world. The dow futures are up 472 points, nasdaq up 147, s p futures right now up 52 points. This on top of a great week last week, the dow, nasdaq and s p 500 closed out the week with gains of better than 3 across the board as you can see. Well, the easing of lockdowns and now news of novavax vaccine trials fueling gains across the world. In europe its green across the board, fq100 up 66, dax is up 62. In asia overnight markets rallied. Japan lifted the state of emergency in the rest of the country including tokyo. Its planning another round of stimulus, exceeding 1. 8 trillion. The nikkei average up 2 andahalf percent overnight. A weekend of protests in hong kong following chinas introduction of new security laws. Hong kong leader carrie lam says the laws will not impact the freedoms of her people. But a few minutes ago we spoke with hon hong kong entrepreneurd industry titan, jimmy lai, who disagreed with that. He is an activist on the front line. He said the law will lead to the arrest of people who fight for freedom and they might be tried in china. It will also lead to the end of hong kong as an International Financial center. Lai is vowing to stay and fight. He said the media is dead because anything you say will mean you are against china. The World Health Organization meanwhile is temporarily pausing hydroxychloroquine and chloroquine trials for a safety review. Cheryl casone with those details now. Cheryl thats right, maria. The decision was made after a new study showed that covid19 patients treated with the drug had a high death rate. They show that hydroxychloroquine and chloroquine given to patients hospitalized with the virus had a higher incidence of death and heart problems than those not given the drugs. An independent group will review the drug as a preventative treatment for the coronavirus. Agency is warning World Leaders about the risks of an immediate second peak of the virus as countries ease up on their lockdowns urging governments to step up testing and tracking measures. Well, merck is jumping into the race to find a vaccine for covid19. The company is buying temis bioscience and teaming up with iovee to work on two separate treatments. Merck has announced a partnership with ridgeback therapeutics to develop an oral antiviral drug that would prevent against the deadly virus. Merck is up 3 in the premarket. Finally, heres a look at whats trending on foxbusiness. Com. Richard bransons virgin orbit failed on first rocket launch attempt. The rocket was dropped from beneath the left wing of a jumbo jet. Is the coronavirus pandemic a good time to buy a home . Nearly 45 of people say they would consider doing it because of record low rates. Finally, pga and nfl stars attract nearly 6 Million Viewers in tv match. They raised 20 million for coronavirus relief. A lot of people were watching. It was pretty popular over the weekend. Back to you. Maria it really was. Well see big ratings for that, cheryl many thank you so much. Meanwhile, we are looking at containing the coronavirus this morning, the world is eagerly awaiting a vaccine with hopes high as maryland based novavax becomes the latest to announce it is beginning human trials and will have initial results in july. The shares this morning are up 20 , effective and efficient testing for the virus and antibodies are among the most important ways for communities to stay vigilant. Potentially reopen as well. My next guest is at the forefront of the battle, even helping fro dues at home testing kits, joining me on the phone is lab corp. President at ceo, adam shecter. Thank you for joining us. Whats your take on the state of testing in the United States right now . Can you assess the situation for us . Absolutely. Good morning, maria. Thank you for having me here today. Im also thankful to my lab corp. Colleagues that have been working seven days a week including weekends and holidays to perform as many tests as quickly as possible. Weve made significant progress on our ability to test people across the United States. We performed over 2. 2 million pcr tests to date, those are the one thats tell you if you have the disease and weve bun 750,000 serology tests, those are the one thats tell you if you had the disease in the past. The middle of june, well be able to do 150,000 tests per day for pcr and over 300,000 tests per day for serology. So i believe we have the testing as we move forward that we need. Maria that is a big deal. Those are some huge numbers. You know, the journal this morning is writing about Corporate America and how Large Companies are dealing with testing and reopening and one of the key things is testing their employees. Some Companies Like Smithfield Foods and ford motor are testing employees before they come in, already ramping up testing for employees so they can return to work along with other Safety Measures. Adam, do you expect were going to have enough testing capability to reopen most of the country by the end of the year and do with some of these large do what some of these allergy companies are able to do or do what the white house is able to do, to test people before you go in. Do we have enough capability for that . I think we will have enough capability by the end of the year. I also think we have to really emphasize that its not just testing thats going to be important. Until we have a vaccine, were going to have to continue to have social distancing in the workplace, wear masks, have good hygiene. We launched a new Organization Called lab corp. Employee services where we help Companies Get back to work. Theres four things were encouraging. One, those that are sick need to stay home. Those that are sick and try to get to the workplace, have you to find them through temperature checks or questions you ask as people come to work. If someone gets into the workplace, you have to be able to track, trace and test and you have to work on wellness plans such as flu vaccination as we get into the fall. I think if we do those things well, well be able to open up Companies Across the United States. Maria these priorities are, your top five priorities youre leveraging the strength of businesses through different phases of Clinical Trials. Tell us where you are on the Clinical Trials. You in january came up with five priorities for the company. Yes. So lab corp. Has a large Drug Development group and were working with many pharmaceutical and biotechnology companies, looking at potential treatments but also vaccines. I am confident that theres going to be wha a vaccine in the future. Everyone is working faster than ive ever seen before. Ive been in the industry for over 30 years. I think its a timing issue. Until we have a vaccine, we have to continue to be vigilant. Were involved in many different Clinical Trials. The fact that we have such a strong diagnostic capability helps us with the Clinical Trials as well. Maria yeah. Adam, real quick, on a personal note, were invested in you and our audience. We want to ask a question for our audience specifically. Do you recommend all americans be tested . I do not believe that all americans need to be tested right now. I believe anybody that is ill or has been around somebody that is ill should be tested. I believe that people that want to know if theyve had the disease in the past should have serology tests. But i dont think that Everybody Needs to be tested because most of the testing is just that one moment in time, particularly for the pcr test, to tell you if you have the disease. You could be negative today, showing you dont have it today but you could get it tomorrow. So i think that it should be thoughtful how we use testing. Maria and real quick, before you go, adam, you just said that you do think were going to get a vaccine. Do you expect well have the vaccine by the end of the year . I think that would be very aggressive and unprecedented. I believe it will probably take longer than that but i am encouraged by the fact that people are building manufacturing sites while they also study the vaccine. Typically you do that one after the other. I think people are really trying to find new ways to get things faster than ever before. Maria all right. Congratulations on all the testing. The president told me the u. S. Is now at 10 million tests so far. Adam, your company has been in the leadership there. Thank you so much, sir. We will see you soon. Thanks for having me, have a great day. Maria and to you. Dont miss America Works together virtual town hall hosted by Stuart Varney this thursday, 11 00 a. M. Eastern. Stu will answer your questions on how to manage your Small Businesses or finances during the pandemic. You can submit your questions. Your question may be featured on the town hall so join us thursday, 11 00 a. M. Quick break right here. A historic day on wall street as the floor of the New York Stock Exchange reopens its doors following the covid19 shutdown. We take you there live, with new restrictions in place. Back in a moment. This week on mornings with maria, tomorrow, american mogul martha stuar stewart is here wis on how to live it up in style from your own home. This, the Michael Flynn takedown has republicans looking at the highest levels of the obama administration. Newt gingrich weighs in. And friday, as america slowly reopens, fire brand freshman, republican chip roy is calling for a return to normalcy, its all right here on mornings with maria. Since our beginning, our business has been people. And their financial wellbeing. Its evident in good times, with decisions focused on the longterm. And crucial when circumstances become difficult. That continued emphasis on people our advisors, associates, clients and communities gives us purpose, strength and a way forward. Today. And always. Maria welcome back. A new normal for the New York Stock Exchange, this morning reopening its doors. It will not be business as usual. Strict rules being enforced throughout the building amid the coronavirus pandemic. Jackie deangeles is outside the new york stocnew york stock excs morning with a look. Big day this morning, jackie . It really is, maria. Good morning to you. Its exciting to be down here. This is such a symbol not just of new york city and free markets but really of america and the Stock Exchange chose to open after memorial day because they felt that was leally strong signal really a strong signal to send across the country that businesses should be reopening but its a limited reopening here, only about a quarter of floor traders will be allowed back on the floor and to give you some perspective, they havent been here for nine weeks. When you think about Hurricane Sandy closure of two days, you think about 9 11, closure of four business days. Nine weeks is a really long time and a lot of these guys have been looking forward to getting back to work. But it is going to look different inside. You can already see the setup outside where there are markers showing social distancing, places to stand in line as you go through security. Folks are going to have to get their temperatures checked. Theyre being told not to ride Public Transportation to and from work. Theyre being told youve got to wear a mask inside, no eating on the Trading Floor and there will be plexiglass dividers between stations. Its not like the old days where someone can come up to you and shout an order and try to execute in that way. It is definitely going to be different inside. Theres no word on when media will be allowed back in. Guests that would come and ring the bell in the morning and the afternoon or the rest of the traders and nyse employees, this is a slow reopening process. I think its a one day at a time type of thing. Its interesting, because across the board on these nine weeks weve seen the markets running through completely electronic trading. A lot of folks are asking do you really need the floor anymore. The ne New York Stock Exchange s when it comes to heavily traded ipos and complex transactions, yes, you need the Human Element and thats why the folks are coming back here today. Maria. Back to you. Maria wow. What an exciting day. Jackie, thank you. And you make such an important point in terms of the New York Stock Exchange representing a symbol. The symbol of freedom. So im excited that the exchange is open. Alli mccartney, i know you are too. Lets talk about this. Because if the new york stock ebbing change can Stock Exchange can do it, other businesses can do it as well given the density of the floor. Allie i think thats a really important point. You have to start somewhere, starting at the New York Stock Exchange which is sort of an icon or a beacon for our Capital Markets is really empowering and important. The other thing i wanted to lay out that you and i have been discussing this morning is something controversial that ubs has actually recently put out which has to do with the supposed link between mobility restrictions and lockdown and suppressing new cases. There has been data both from new york city and you can see it in the data weve seen from sweden and some other countries as well, that the link might be more tenuous than we think. As we look at for example new york city cases, it looks like the most recent numbers that have come out say that about 66 of new cases reported in new york have come from people that have been in selfisolated lockdown in their homes. So that throws into question a lot of the things that weve been talking about and but we are looking for most importantly right now is the correlation between a decrease in mobility restrictions, people going back to work, going back to play, going back to the doctor, and what that looks like from a new infection perspective and that will open everything up. Maria yeah. Well talk more about that and also how to invest in this environment, well come back to you on that. More mornings with maria right after this. Stay with us. I am totally blind. And non24 can throw my days and nights out of sync, keeping me from the things i love to do. Talk to your doctor, and call 8442142424. Has stood strong through every dark hour and 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. Helping you weather storms like this one, 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. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. Maria welcome back. Time for the morning buzz. Back to business as usual for some traveling over the memorial weekend. Hundreds seen as Charlotte Douglas International Airport in north carolina. There were huge tsa lines, some people missed their flights. Allie, did you expect this . Allie no. Its fascinating how quickly people are going back to traveling. I hope not to be so far behind them but have you to worry about the contagion there and then what i find so funny is the process of flying and traveling was not without peril and frustration before. We have to be kind and expect a new normal. But a good indication that consumer behaviors have not changed so much that travel is going to be hugely affected. Maria yeah, interesting pictures there to see so many crowds at the airport, thats for sure. Next up, boxing legend, former heavy weight champion Evander Holyfield is up to getting back in the ring with mike tyson. This comes after tyson appeared excited about a potential rematch. The two say they will do the evidence int for charity. Event for charity. Jon, do you remember their famous 1997 fight . Jon i do. Thats when tyson took a bite out of evan deer holyfield evander ho holyfields ear. I would watch it. I would rather watch big pro sports coming back. I think there will be a lot of talk about that in the next week or so, nba, nhl, looking forward to the College Football season. I think thats something for people to start getting excited about, pro sports coming back. At least on television, if not filled stadiums. Maria people want to see the sports play resume for sure. Thank you. Stay with us, everybody. More mornings with maria right after this, next hour a big one, stay with us. I must confess i still believe. When im with you i lose my mind. Give me a sign. For business as usual. Or is it . What if business as usual means putting people first. And understanding their needs . If thats your business. 365 days of every year, then business as usual is precisely what these times require. Which is why your lexus dealer will do what weve always done. Put you first. Find out how we can service your individual needs at lexus. Com peoplefirst. Maria welcome back. Good tuesday morning. Thanks for joining us. Im Maria Bartiromo. Tuesday, may 26, top stories just before 8 00 a. M. On the east coast. The race for a vaccine continues, this morning, new information, novavax first human trials expecting results in july getting america back to work retail rz restaurants to travel bookings Mortgage Applications rising more signs u. S. Economy starting to rebound some areas seeing large crowds over the Holiday Weekend, about raising concerns about possible spikes in coronavirus infections, the reopening of Major Economies across the world hope for vaccine vaccine pushing fushts higher we are expecting a gain start of trading to the tune 500 points right out of the gate, dow futures up a 04 s p up 545 nasdaq futures higher by 150 points on top of a big week dow, nasdaq s p 500 closed out week with gains better than 3 , across the board. As you can see. Another milestone today the floor of the New York Stock Exchange is reopening, but not quite business as usual we are taking a look at new restrictions coming up this morning, on wall street. Turning to the 2020 race former Vice President joe biden looks to take on President Trump on the economy mornings with maria is live right now. Maria the easing of lockdowns optimism over a Vaccine Development leading to gains across the board this world in europe green across the board take a look at european indices ft 100 up 65 cac quarante up 45 dax up 37. Spain announcing opening up to foreign visitors in july germany reportedly ready to lift travel restrictions for European Countries as well markets rallied japan lifted state of emergency for the kin including tokyo planning round of stimulus will exceed 1. 8 trillion dollars to japanese nikkei up 2 1 2 others higher. Weekend of protesters in hong kong following chinas destruction of new security laws, hong kong leader carrie lam says laws will not impact the freedoms of her people but not everybody shares that view last hour hong kong entrepreneur visit jimmy lai telling me law could lead to arrest of people fighting for freedom he might be tried in china, he is vowing to stay on and fight. Joining the conversation this morning, lee carter alli mccartney Jon Hilsenrath great to see everybody this morning. Thank you. Now some top stories we are watching this morning, China Military says forces in hong kong will quote resolutely protect the country National Security interests, this statement comes as china looks to tighten grip on hong kong with proposed National Security laws measures unveiled friday would exexpand beijing control over former british colon cracking down on acts of succession interference, jimmy lai on with me last hour exclusively, telling me, in an exclusive interview that hong kongs freedom is at stake right now. People have two choices, either emigrate, or to stay and fight. And i am going to stay and fight. So those who want to leave should leave because this becoming very dangerous. Thousands of people took to streets of hong kong over the weekend o to protest controversial he appropriations. President trump bringing a message of hope from fort member henry honoring Fallen Heroes touting strength of the american spirit as nation adjusts to a new normal. As great warriors have shown from us the nations earliest days in america we are the captains of our own fate. Obstacles no challenge no threat a message for the sheer determination of the American People. Maria the democratic presumptive nominee joe biden emerging in public for the first time in more than two months this weekend, the former Vice President donning black mask laying wreath at Veterans Memorial in delaware biden facing criticism for gaffe on friday radio show will reportedly try to shift focus to President Trumps handling of the recovery saying he is not putting us on a path to recovery. Novavax beginning human testing of Coronavirus Vaccine plans to test 130 from 18 to 59 years old in australia, preliminary results slated for july if phase one sufficiently novavax will begin phase two including United States the trial getting 388 Million Dollars donation from a bill gates backed group stock soaring on news up better than 20 novavax right now, new york will reopen trading port two months after the covid19 pandemic forced the floor to close not business as usual however just a quarter of the usual number of traders will be allowed back in, they will be required to wear masks, observe strict social distancing rules not take Public Transportation to work. Hand shakes forbidden as well traders must sign a waiver, that limits the nyse liability in case they get sick, fox business alert United States, secret Service Reporting suspicious acknowledge Lafayette Park close to white house north lawn street closures in effect for blocks around the complex sources also say that white house employees are being held at Southwest Gate we bring more information as we get it this is breaking news we are just getting to it the newsroom right now. We opening america, the the wall street journal reporting Economic Activity is picking up across the country amid coronavirus pandemic including truck, markets improving for of four straight weeks real estate showing an uptick more people are stepping out without masks social distancing, take a look at video, from o zdareks in mo, new jersey point a pleasant you see crowds once again gathering, joining me rights now wyoming senator Senate Energy Committee Foreign Relations Committee member a medical doctor himself John Barrasso senator great to see you this morning, this you so much for being here. Terrific to being with you the congratulations on shoutout on jeopardy. Very kind let me ask you about reopenings you and i spoke a month ago you said my economy my state, is very you know vulnerable to this shut down because youve got lots of industries, that are shut like construction, agriculture that actually could be reopening now, how is it going . Senator in terms of reopening. We have a song in the west, back in the saddle again, it is time for all of us in america to get back in the saddle again where we have 39 million americans, out of work in, wyoming or commitment has been keep families safe, keep our communities running and keep our businesses afloat we have been successful doing that as a result of efforts in wyoming also the help of the paycheck protection plans some programs that were part of the cares act number of places yesterday memorial day ceremonies very solemn in cemeteries people were appropriate social distancing but coming back, in our state and very successful people the optimistic about the future. Maria what about hospitals senator . You noted in a new oped that we need to allow patients to get medical procedures as coronavirus cases you said patients continue to put off doctor visits that could detect live then aing problems like cancer Heart Disease when do you think things change in that regard in terms of hospitals, senator . They are starting to change now, because there are essentially medical procedures arent quite emergencies but have been put off, for months, as hospitals have shut down everything other than emergencies because of the coronavirus pandemic weve had hospitals all around wyoming with very low occupancy they have had to lay off health care workers, at the same time, patients are waiting for care, in wyoming we do a thing every wing health fairs i was medical director for 20 years low cost blood screenings in communities we canceled seven this spring in wyoming every year we hear from people who tell us lives have been saved because of things they learned at those health are facing as hospitals communities have shut down things like, mammograms, cardiac stress tests, all those things are harmful to Peoples Health 600 doctors wrote to the president saying for the sake of the health of the American People reopen the country, because it if health goes beyond coronavirus itself, those are source every things i talked about with president about on tuesday. Specifically talked about the Longterm Health Complications of people being unable to go to work people being shut shuttered away times of hi unemployment maria. The risk of abuse goes way up. That is you make a lot of really important points. One of the bay area hospitals reported [no audio]. Going into it you and i talked about your state he wyoming, being more impacted by the shutdown, than you have been impacted by health issue, of the coronavirus, because, youve got things like, agriculture, tourism in some areas there will be some companies that wont be able to make it back, what is your expectation of the longterm damage done to the economy given the shutdown . Well you are absolutely right maria, wyoming the impact on economy is much greater than the impact of the disease itself we have had 11 deaths under 1,000 cases but for our Energy Economy agriculture tourism economy has been significantly impacted there Yellowstone National park open again welcoming visitors Energy Prices back i think you reported over a 30 a barrel today remember was negative numbers a couple weeks ago, agriculture, continues to be, concerns with our cattle ranchers paid at alltime low. Historic low prices, so in wyoming we are tough we will get through this. We will as Ronald Reagan would say our best days are still ahead and the people of wage continue to believe that maria. Maria all right, senator before you go quick on the ppp, you mentioned paycheck protection plan, i know that there is a group of senators reached an agreement to extended the forgiveness period from 8 weeks to 16 weeks, what changes are you expecting, to the ppp plan . Well that is it has been very successful, wyoming we havedone 11,000 loans offer a billion dollars average loan 110,000 dollars very successful some businesses specifically, in the area of tourism say we want at the keep people on payroll we need a little longer than that 8 weeks we need to go to 12 or 16 weeks, 75 of the money needs to go for payroll some of them based on Business Models may need to be lower than that we are working with secretary of transportation, a Bipartisan Group of members of the senate that want to get something done, as well, if there is another piece of legislation on for that i am for liability protection, the Small Businesses want to make sure as well as our medical personnel not getting sued by the sue and settle lawyers look for cases of coronavirus to say hey maybe there is somebody you can sue they are advertising for that, right now maria, saying if you had coronavirus, call for your free consultation, likely somebody you can sue. We cannot as a nation afford to do that as we try to come back to business. Come back. We will leave it there senator great to see you this morning as always thank you, sir. Thank you, maria. Maria senator John Barrasso joining us we have a fox business alert right now all clear at the white house, the allclear has been given, at the white house, secret service shut down a few blocks due to concerns over suspicious package we are getting the allclear at the white house no issues we will continue to follow what that package was and get news to you weve got a let to talk about this morning retired general fox news senior he strategic analyst jack keane here next o protests reigniteing in hong kong former chief economic adviser under busch 43 dont miss a moment of it. Well be right back, right here. Waivers and payment deferrals, helping people stay in their homes through mortgage Payment Relief efforts and donating 175 Million Dollars to help hundreds of local organizations provide food and other critical needs. When you need us, wells fargo is here to help. Maybe sent to china for trial. So the whole place will be will be hong kong will be the same as before. Are you expecting to get arrested . Yes, we hong kong people cannot be we have to go and demonstrate, and protest. Maria that was chinese entrepreneur jimmy lai joined knee last hour discussing reignited protests in hong kong of beijing security murders carrie lam saying will not impact laws of her people we know is that not true Robert Obrien suggesting aggressive moves could result in u. S. Sanctions fox news senior strategic analyst retired fourstar general jack keane always a pleasure to see you i know you know jimmy lai very well he is a friend of yours your reaction to what has taken place what you heard from jimmy lai this morning. First of all, that was jimmy lai has bravery on display for all American People to see this is a multibillionaire who left china at mothers urging when the communists took over was 12 years old 11 or 12 years old she put a piece of concurrency sewed . Pocket went to macau got a job in factory working in hong kong he eventually took over as adult, and ran a fashion business for years until the Chinese Communists took it away now a immediate yoo tycoon the only person of independent wealth who stands on street with those young people. He stands there because he is stands for freedom for the values that america has, and he wants hong kong to continue to enjoy stlools what is what this struggle is all about. You really make a great analysis there, and putting in context in terms of who jimmy lai is really is so informed for ur audience. Thank you interior. What is the path forward general i mean look i always thought of hong kong as International Hub, equivalent to a london, or you know, new york it is not the case anymore. What happened here and do you think the fact that xi jinping is a dictator for life changed things . In terms of the way he approaches governing china and hong kong as well now we see . You know you put your finger right on it so did jimmy this is all about president xi as he sees china when he took over 2013, he announced that a completely different doctrine the future dream of china center of universe dominating country in the world replacing United States. It is a huge economic power but also the significant military power. And i think what has happened here, he put china on that path for a number of years. But i believe covid19 accelerated it, and particularly when it comes to hong kong, because i believe he knew that when the disease retracted inside hong kong demonstrators would be out he was no longer going to let facade of local government being in charge, so the National Party congress met, and now they are passing laws, that are going to take control of hong kong and that is what jimmy is taking about so they have these laws that are antiterrorism antisedition of any stripe any foreign interference what does that really mean . It means any person in hong kong can be arrested for anything at any time it means any foreigner this important any foreigner can be deported for any reason they eventually will shut down free press there as they kicked out the wall street journal new york times, and Washington Post. Mainland china during the crisis, so and they have calculated this is important, they have calculated if they lose the Financial Center which obviously, contributes to Mainland Chinas economy, but is not the Center Gravity but a contributor that is okay they will put that at risk why . They dont want to threaten Mainland China and their regime that is what this is all about. They want control and influence. They want control and influence in hong kong but way beyond that as well general i mean right now this morning there is a report of this indiachina border dispute there are troops at border right now of india and china, and they are talking about a certain part of the country as part of southern tibet china says that is part of southern tibet india contests that is india, so there are troops facetoface right now china and india should we be concerned. Well this is all part of their general strategy. They are intimidating from japan to malaysia, certainly southwestern border western borders as well this is about Mainland China as center of gravity of the world what they are pushing back on. They want control. Maria general, thank you so much great insights from you as always jack keane. Well 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. We opening america, universal Orlando Resort announcing it is reopening june 5 with warning resort web site has a disclaimer reads the following, note that any public location where people are present provides an inherent risk to exposure to covid19 we cannot guarantee that you will not be exposed during your visit, disney releasing a similar message reopened Disney Spring Shopping Complex last week universal will limit capacity on park attractions lee carter do you think we will see a lot of companies do this . There is a liability issue out there, one of the reasons the president keeps talking about this as well. Yeah i think there is no question this were going to see a lot of of you know disclaimers language, the risk, and natural in course that we are going to have to we are going to have to put onus on individuals to take responsibilities for themselves. I think it is really interesting, too, to see how people are feeling, about their safety in these environments i think, a big divide politically how people feel about going back and i think that these times are disclaimers are going to have impact on how people feel once they are there, i think a lot of people trying to go back feel normal are they going to notice these feel more threatened less threatened intoing to see cutback i think people out there right now are willing to take the risk. Yeah, true, alli mccartney we have seen real impact in terms of the economy i asked you earlier what do you want to do in this environment as an investor as you see slight options across the country what are you telling clients . Great question. So the market has had an amazing rebound s p up 32 since march lows but that rebound and Market Movement have been very narrow not broad at all, it has been largely large stocks largely been technology. And so if we can get a a significant reopening, that sort of continues to fuel itself into more consumer then i think we are going to have a broader rise and at that point i think we should be away from technology, still away from materials, mid caps have underperformed significantly. A but in a great position relative both to large cap and small cap to outperform and largely more u. S. Based isolated from a lot of in midcap, would i be very, very skeptical of technology. Credit continues to be well priced for the scenario. I would say if we get some surprises to the upside in terms of being open faster china rhetoric draws down we might be in a position to see a huge broadbased gain but i think for now we are sort of look athare we having a second wind in the economy . Or second wind in the virus, one of those two things is going to predominate. Looks like a broad baste really this morning 500point rally underway for dow industrials slipping in a break when we come back zeroing in on economic revival as nation fights to recovery, could the worst of it be behind us . We break it all down can when we come right back. Plus historic day on wall street floor of new york reopening the stores what it says about resiliency of america in Uncertain Times. I see skies of blue or make me feel like im not really there. Talk to your doctor, and call 8442342424. Maria welcome back, good tuesday morning, everybody thanks so much for joining us. I am Maria Bartiromo. Tuesday, may 26 top stories 8 32 a. M. East coast markets rallying futures building on last weeks gain point to 500point gainstart of trading deto reopening business across the world optimism this morning over another Coronavirus Vaccine, in the works, the dow futures up 521 points nasdaq fighters up 139 s p futures up 55. Easing of lockdowns news of novavax vaccination scene trials across the world european indices higher across the board cac quarante up 51 dax indices up 91 in asia overnight markets rallied there as well japan, planning another round of stimulus exceeding 1. 8 trillion dollars, the nikkei average was up 2 1 2 this morning, overnight, rather meanwhile, a weekend of protesters in hong kong once again, following chinas introduction of new security laws, hong kong entrepreneur activist jimmy lai telling me this morning the law could end to end of media arrest of people fighting for freedom, might be tried in china would lead to end of hong kong as International Financial center he is vowing to stay and fight. Spain will welcome back International Tourists this summer meanwhile, Cheryl Casone with more of those details right now cheryl. Cheryl that is right, maria. Good morning again spain seeing a decline in covid19 cases, tourists no longer placed in mandatory two week quarantine when they enter the country spain has second largest number of coronavirus cases in europe behind uk but going to open borders to foreign visits will start july 1st. As we just wrapped up memorial Day Celebrations across the country we are learning the covid19 pandemic is taking a heavy toll on unemployed veterans nearly 12 lost jobs in april outpacing the rest of the United States rising to highest level since Great Depression government says more than one million veterans applied for jobless benefits last month younger veterans most heavily factored group. Foxbusiness. Com, Stormy Weather puts damper on spacex first astronaut launch forecasters putting odds of good weather at 40 , warner 1. 8 nasdaq under artists including cardi b, bruno mars 70 million shares between 23 and 26 per share total val could be 3. 26 billion. He martin, Railroad Line runs 18 miles, martin maria a resident of santa fe wants to get involved in projects like that those are headlines back to you. Thank you so much we are looking at economy, this morning, continues to recovery, america recovering economic signs indicating the worst may be over from covid19 downturn from economic standpoint air travel Hotel Bookings up Mortgage Applications rising some ways in which United States maybe turning economic corner, joining me right now to talk about that former chief economic adviser under president george w. Bush ed lazear your take on se. Where we are in terms of reopening. Do you see green shoots is a reported . Secondly what is the longterm damage that you see the, as a result of this shutdown . Well, it certainly green shoots, but lets look where we are right now, and ask where we are going to be relative to the peak. You know the best way to look at this, of course, is jobs market, because that is what affects people directly. We know right now, just given the initial claims on unemployment, plus the number of people who are unemployed before this thing started, that we are right now at about 40 million probably slightly over 40 Million People unemployed, so we are talking about unemployment rates Great Depression levels will probably show up in may data, and latest in june data is to i would expect that to be the peak. The good news is obviously, when you have a peak, that means that you are recovering but the recovery will depend in large part on the rate at which they open up i would expect people talked about a v, a u, i think he long gathered s. The within what is going to happen officially we will bottom out, and then things will start to take off, as states open up more and more gradually because state and local control i dont want to call it haphazard but not all at once kind of fashion then things pick up quite roichl would i expect close to the top we slow down again will look like an si would say optimisticly if down to 5 range 6 to 8 quarters would i be happy with that. 6 to 8 below 5 do you think that is possible . Well, it is possible that is why i said would i be happy, it is it is in some ways optimistic assessment we have high levels of unemployment right now suppose, lets dream and suppose that we were to get a vaccine by the fall at that point things could move back quite rapidly, this is a supply based recession as opposed to demand based recession, as a result, we have the ability to open up more quickly, and come back more quickly. So this will not look like the financial crisis of 2008, hopefully we will be back more rapidly than we were then again 6 to 8 quarters a long time still talking two years out. But if we were there in two years, i would be happy with that. Well what about the blue states versus red states . There is oped this morning in the journal, the Editorial Board notes it is pies over memorial day states like new york, california will suffer longterm economic consequences as shutdowns go on ed new york is beginning to phase in construction, california is phasing in retail, reopening but is it too little too late . What is your thought on you know the approach different states have had . Right. Well it is never too late, you know obviously, the the sooner the better, in fact i would say this the delay that he weve seen you know, obviously, health, are paramount but the delays that weve seen have already pushed us back. So i think initially when shutdown coward people were 340e7g days maybe two months at this point well beyond that we are causing more businesses to fail dead or aliving recovery one of the interesting things you mentioned new york and california one of the interesting things, i looked at the jobs numbers, last month i had a pies in the Washington Post a few weeks ago, where i documented who was actually getting hurt by the recession it turns out and not to surprisingly, typically in most recessions, but primarily the young and the poor who are getting hurt by this. So you look at the jobs that are lost, lowwage jobs, if you look at unemployment rates, they jumped dramatically for teenagers, juchld dramatically for people who hadnt finished high school juvend more for hispanics than population as a whole if you what is going on here, not so obviously, that that pattern fits the kind of things you were talking about with new york and california one wrnz wonder rz why those states are he postponing we are all worried about staying live not clear to me what is going on there. To be clear, ed you think we will be back to normalizing things, in terms of the economy, by the end of 202021 you said earlier back to below 5 unemployment 6 to 8 quarters you are talking end of 2122 then. Yeah, as i said that is i dont want to say optimistic i think it is not unrealistic i wouldnt be surprised if it took longer, remember, the recovery from financial crisis took forever. But that was a different phenomenon you cant hurn switch back on everybody talks about, it is a lot easier to get things done business were shut down by government statute so we can open those businesses at the same time, it is not like people are not anxious to get out there. Sorry go ahead. Maria i just said what you were saying you are right all selfimposed we will see if this is 2021 afir in tomorrows of normalize organize beyond that ed great to get your insight this morning thanks so much good to see you. Take care. Ed lazear former economic headed under george w. Busch one Company Using uv ray to say about disinfect. New york City Reopening floor how traders are adapting with new safety restrictions in place. Stay with us. Pretty woman walking down the street, pretty woman, the kind by like to meet, pretty woman, 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, disappearing the spread Uv Light Technology helping to fight against covid19 Research Shows it could be a Public Health breakthrough, one company now working round the clock to meet p demand Grady Trimble is live from champagne illinois with behind the scenes look grady good morning to you. Reporter good morning, maria. Usually when you think of uv light you think of long critical lynned describingal bulbs these are perfectly flat only company in u. S. Making them like this, and once they are in the factory they move over to this next part there, where they pump a gas into it when that gas reacts to electricity that creates the uv light i have ceo of this company with me you really see this as breakthrough it could be widespread pretty much everywhere in a public place. Absolutely, whole idea is to make public spaces safer for people to be in densely populated areas, restaurants new york subway system using uv lights, what makes this light different from a lot of other uv lights on the market is that this doesnt cause harm for humans people could be in subway car while lights are on. Right we use a specific part of the uv spectrum shown to be safe for humans some other parts are not some other parts can cause cataracts, cancers this has been shown not to do that. Reporter as we mentioned this could be used all over the place restaurants like i mentioned also airplanes pretty much anywhere where large group of people not only kills it on surfaces but unless the air from this little flat light maria. Maria fascinating grady, thank you Grady Trimble joining us there, it is an historic day on wall street the floor of New York Stock Exchange will reopen doors this morning what it says about america in Uncertain Times all coming up right after this. 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. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. We are about 30 minutes from opening bell on wall street after long Holiday Weekend it will be a very different that on the floor new york putting new Safety Measures in place, as traders get back to work, but it is an opening after two months of closure they include temperature checks, lienlt waivers, masks, social distancing, plexiglass dividers on the floor no Public Transportation. Alli your reaction interesting adding that you cannot take Public Transportation to work. A huge issue, certainly from new york and other cities that rely on Public Transportation. New york needs 6 to 8 mill people in and out to really get back to work why i think fascinating last guest talking about lights to technologically developments going to allow us to ebbs takes that next step think about that investment perspective, any of these technologies that companies are going to be increasingly, cities as well to invest in much more in this environment to help get back to work back to play that is part of new environment something you can invest in long term. Yeah certainly is one of the breaking stories of the morning, of the week, the reopening how companies are approaching this, the other major story rear following this morning, seclusive exclusive with jimmy lai in hong kong tightening gripe new laws to be approved by china this week could be in place by end of next month Jon Hilsenrath lets talk about what we heard from jimmy lai the big question, that weve been talking about is he is china going to act this way toward hong kong . How do you believe anything coming out of china . Same question that we heard earlier this year when china after having contracts in place to delivery protective equipment to the rest of the world decided were not going to live up to those commitments, we are not going to send any ppe to rest of the world we are going to hoard it corner the market keep it for ourselves how do you trust china . Right the u. S. Right now is has done one of a trade deal other phases to follow thank is the message that comes out of what is going on, with hong kong. You know what is happening in hong kong has not just hong kong story it is a message to the rest of the world, you know what is going on there, that is when china took over hong kong from the uk in 1997 there was the basic law enshooinz one country two systems an agreement a constitutional agreement that protected the rights of hong kong people and now looks like china is going back on the agreement it made with its own people. If chinese signal government is going back with its own people can it abide by trait agreement with u. S. Avin this country needs to Pay Attention to to hong kong story. It is not just hong kong story. It is about our relationship the world relationship with chinese Central Government of beijing whether they live by their agreements. That is right incredible courage to be on front lines like jimmy lai is to fight for freedom trying to keep hong kong the way we all expect it is going to be but doesnt look like a Chinese Communist party wants it that way we will take a break when we come back weve got more mornings with maria. Right after this. Maria welcome back. Big rally under way. We are expecting a 500 point gain right out of the gate this morning. Lets get some final thoughts with the market opening in about 30 minutes. Lee carter, kick it off with you. Im really excited to see the market opening today. I think its really important that we start to see some coverage of responsible reopening. We are seeing so much coverage of things like the ozarks and theres so much fear about reopening. 70 of america is ready for the economy to be open. Wve confidence will start coming back. There will be a new normal. Thats a right way to do it. We will be okay. Maria alli . I would agree, its all about little by little, getting consumers and Business Owners optimistic, back to work and back to a place where they feel comfortable they can move forward. Once we do that, the economy can take another level up. Its much broader. Maria john . Pentup demand. Americans have been sitting home for weeks. Are they going to go out and spend money . If they do, that could convince businesses to start hiring again. That will be the trigger that gets the economy going. Maria all right. Great show, everybody. Thanks so much. Tomorrow, dont miss us. I will speak with living omni media founder and entrepreneur martha stewart, thats 8 30 a. M. We go right to stu right now for varney company. Stu, good morning to you. Stuart good morning, maria. Good morning, everyone. Great way to start. The economy is reopening. Tens of millions were out and about over the long weekend. Theres positive news on vaccines as well. In my opinion, the mood is shifting. It is turning positive. Look at this. This is called a strong stock market rally. The dow this tuesday morning, not monday, this is tuesday morning, we are going to be up nearly 600 points. Thats much better than 2 . The same o