Transcripts For FBC Varney Company 20240712

Still not many people. We will be tracking this story throughout our three hours. Nearly half a Million People will be returning to work in the city. And they are returning to work, by the way, to a city whose mayor is pushing to defund the Police Department in the wake of the george floyd protests. A lot of pushback on this, as you can imagine. We will get into it. Including from the president. He tweeted this just moments ago. Law and order, not defund and abolish the police. The radical left democrats have gone crazy. And Hillary Clinton, by the way, well, shes had another deplorables moment when speaking about trump reporters and we will have that for you as well. Im Ashley Webster. The big story for dyou today on monday, the markets pointing upwards. Varney Company Begins right now. This will go down in history as the biggest positive data shock for the markets and the economy. Its some combination of an incredibly resilient economy thats bouncing back, the impact of government measures including the Paycheck Protection Program and finally, maybe some data distortion. We cant figure it out yet but it certainly is good news. Ashley how about that. Some bullish words from mohammad elerian, a big name in the financial world. Lets bring in market watcher keith fitz gerald, a big name by his own right. Keith, we can now say the recovery is in full effect. Do you agree . Oh, absolutely. In fact, elerian, as respectful as i am of his opinion, cant figure it out is astounding to me. This is all about psychology and hope and aspiration. The things that we talk about all the time. The markets love profits and are looking ahead and guess what, they are going to have them. Ashley well, they are, but you know, the forecast for the Second Quarter and maybe we just write this off, earnings will be down 43 . Keith fitz gerald, what happens when the federal money runs out . Is that going to be an issue . You know, in the past, i think that probably could have been an issue but this time around, i dont think so. The market again is all about psychology right now, not numbers. Everybody knows the numbers are going to stink. This is like betting on a horse race after you know the results. What you really want to focus on is the next racetrack. That, to my point, is going to be a recovery the likes of which very few investors will ever see in their lifetime more than once. Ashley yeah. Its exciting. You know what, keith, you brought us some picks, they are on the screen right now. You picked apple, here we go. There they are. Apple, jpmorgan, microsoft, visa, alaska air group. Didnt exactly go out on a limb. Lot of obvious names, but its interesting you picked an airline, alaska. Why . Well, number one, i like to fly them. Numb number two, their crews are always professional, their planes are always clean and they work, most importantly. They have the most concentration on domestic exposure. Its got a lot of value. This was a 70 stock coming into this. Most of these picks, incidentally, i made near the depth of the drop. At the time it took a lot of guts to get in. Now im sticking with them because theyre best in class. Ashley very good indeed. We would expect nothing else. Stay right there. We do have some more positive news on this monday morning as we have been talking about, new york city finally beginning to reopen, beginning today, construction and manufacturing may resume and retailers can open for Curbside Pickup. There you go. There are the rules in phase one. Kristina partsinevelos is with us. Kristina, we are used to seeing you in front of boardedup shops. It looks like you are again. What are you seeing out there today as phase one kicks in . Reporter well, its phase one, i could be celebrating, its the reopening of new york city but i got to add the sort of. The caveat there. Because yes, there are people milling about, theres a lot more traffic on the streets but as you can see, everything is boarded up. We are expecting maybe around 400,000 people to be returning to work within the retail, manufacturing and construction sector, but im standing in Herald Square right now which is a tourist hub, a shopping hub. Macys is right behind me. Youve got sunglass hut, everything is still boarded up. Macys is supposed to have Curbside Pickup because thats what retailers can do right now, they can offer Curbside Pickup as well as instore pickup but unfortunately, all the doors at the moment are closed. We know reopening has been complicated by the vast number of protests for Racial Injustice and of course, george floyd. That has created a difficult situation for some of the businesses here because they s boarded up their stores and many have decided they are not going to reopen today on phase one in new york city. The concern is that people arent out yet. Not everybody is out on the street. Everybody is still working from home, maybe people feel uncomfortable coming into the city. That leads me to talk about transportation. This is a densely populated city. We have the subway and trains working on normal schedule. However, the subways are closing overnight to be sanitized and cleaned. I did notice this morning way more people waiting in line for the bus at several locations as i walked over to Herald Square, and businesses might be ready, but are commuters ready. Thats the big question. Because today marks the 100th day since we first had the First Official coronavirus case here in new york city. We have come a long way but it appears, according to the mayor and officials that phase two isnt for at least another two weeks with the mayor alluding last week it would only happen maybe early july. A lot of these businesses may be financially in dire straits at the moment and they are going to have to continue to wait for phase two and thats when stores can reopen, thats when restaurants can have Outdoor Dining and the mix. Its a lot of waiting and a lot of boarded up stores in new york city but more traffic. Ashley more traffic. Well, thats something. Its all about confidence. Kristina, thank you very much. We are under way even though with baby steps, to her point. Keith, i want to bring you back in. You are a seattle guy. Seattle, i would say, is at least two weeks or more ahead of new york city on the east coast. Hows it going in seattle . Have you seen the recovery pick up . Well, you know, theres anecdotal evidence all around us, obviously. Stores are coming open, people, the interesting part is not so much the stores and activity, but peoples nerves have seemed to calm down. Obviously the george floyd situation is right there at the surface as it should be. There needs to be justice, there needs to be reform. Thats a different topic. What im seeing related to the virus and reopening is a calming down. So that takes the whole tension level in the area down, gives business confidence, gives consumers confidence, and we are seeing that. Ashley very good. We look forward to that. Keith, thank you very much. As we take a look at the futures, by the way, on your screens we have, up 241 points on the dow. On your screens, eight more states, by the way, in all loosening lockdown restrictions today. Lauren, take us through the big ones, if you can. There they are. New york included, of course. Lauren yes. New york city included. I was getting a good look at your hair. Not sure you got your hair cut. If you go down to delaware, starting today, personal services can resume at 30 capacity. Kentucky is reopening more, mississippi, rhode island. West virginia, youth sports can happen there. Youre looking at michigan. The restaurants may open for indoor and Outdoor Dining. Day camps for kids, pools can also reopen. So more of the Hospitality Industry is opening up. But the salons there are still closed. Quickly let me give you massachusetts ashley i just lauren go ahead. Ashley go ahead. I was going to say, im trying to find the nearest hair salon. Thats what im trying to find. Lauren im trying to help you. Massachusetts, pro sports practices and youth sports plus camp. You can go inside a retail store and your children can play in a playground. Thats big. Ashley that is big. Not quite as big as my hair but its big. All right, lauren, thank you very much. Lets get a check lauren i think it looks good, actually. Ashley on the price of oil. Well, thanks. My wife seems to like it, too. So who cares . Im just going to let it run riot. Lets get a look at the price of oil. Another positive indicator, by the way. Almost back above 40. Its come back a little bit. We had some news from opec plus over the weekend, thats opec and russia and some of the other countries. They agreed to extend those production cuts through the end of july. That should be positive. We did see oil at a threemonth high but this morning, coming off a little bit, down about 1. 5 , 38, almost 39 a barrel on crude oil. What about boeing . Thats another stock thats been on an absolute tear, on positive reopening news. Heres where it is today. Look at this. Premarket, boeing up another 16, up nearly 8 at 221. Impressive for boeing. Disney, same story there. The parks set to reopen next month and the stock has been climbing steadily. Modestly up in the premarket, up half a percent. Disney at 125. All right. Lets check the futures again very quickly. Looks like a triple digit gain at the open. 243 points to the positive on the dow. The s p up more than half a percent. The nasdaq, more modest gain, just up about. 1 in the early premarket. Lets take a look at twitter as well. On twitter, if you search the term racist, President Trumps account is the first result you get. We will be on that story later this hour. Also, major fallout at the New York Times after a tom cotton op ed gets published. The opinion editor now out. He resigns after an employee revolt. Whatever happened to free speech . We will get into that. Also next, Hillary Clinton with another deplorables moment. Wait until you hear what she said about trumps supporters now. Well, maybe you wont be surprised. Varney company just getting started. In my line of work, i come face to face with a lot of behinds. So i know theres a big need for gasx maximum strength. It works fast. Relieving pressure, bloating, and discomfort before you know it. So no one needs to know youve got gas. Gasx and assemble more vehicles here than anyone else. Its why at moments notice we can take American Ingenuity and our manufacturing capability and put it to work. Building respirators, ventilators and face shields. Building what weve been building for over a century. An unbreakable connection between the Ford Motor Company and america. Ashley well, we have our eye on tropical depression cristobal, the storm slamming the gulf coast with flooding after it made landfall on sunday. But its lost a good amount of its steam. Thats the good news. But it is moving fairly slowly so any rain that does fall will start to accumulate and moving at around ten Miles Per Hour, the gulf states can expect more heavy rainfall for the majority of the day. Its a soaker. Lets take a look at bp, by the way. The Company Planning to cut 10,000 worldwide jobs because of the pandemic and its impact on the oil industry. That stock up, though, 2. 5 . Bp at 28. 40 premarket. Next case, big staff shakeup at the New York Times. The times published an oped from senator tom cotton, republican from arkansas, that called for troops to help with the riots. Lauren, come on in. The editorial editor i guess pushed out, said he resigned but pushed out, it looks like. Lauren so it seems to me. James bennet has resigned from the editorial pages as editor of the New York Times after as you noted, the paper published that senator cotton oped saying bring in the troops, the military, to help quell the riots and the violence that we were seeing on the streets. There was an internal revolt in the New York Times both from the editorial side and the journalist side about whether the paper should have published that. The paper apologized and tom cotton had this to say. We published opeds in the New York Times before. It was the exact same process. The Senior Leaders of the New York Times publicly defended the decision to publish the oped after this woke mob began to rise up. It was only after another day of infighting that they finally backpedaled. They still havent identified any facts that are wrong in the oped, they havent identified what was so rushed about this process. They have only prostrated themselves in front of their Young Children who are act like children, who are acting like kids at a social justice seminar as opposed to acting like grownups in the workplace. Lauren as he said, woke children. It raises the question what opinions should be printed and this dynamic between democracy and what could be seen as an authoritarian rule. You can publish this or you cannot. Did the New York Times make clear that he violated any of their journalistic standards. Ashley yeah. Its only free speech if the newsroom workers apparently agree with that opinion. If not, then it shouldnt be allowed to be printed. Crazy story. Good stuff. Thank you. Next one, another deplorables moment from guess who, Hillary Clinton, calling out Trump Supporters once again. Heres what she said. This is the, you know, the crux of what she said in the statement. Its a mystery why anybody with a beating heart and a working mind still supports him. She goes on and it may well be that a leader like donald trump who depends upon distraction finalsly being brought down to earth because people are watching in realtime what is happening and how inadequate his response has been to these historic moments. He has been such a failure across the board. Wow. All right. Good time to bring in marc lotter for this, trump 2020 Strategic Communications director. Marc, listen, does shaming of Trump Supporters work . No, in fact, if anything, any words that come from Hillary Clinton will just make the president s support even stronger. If you look in the dictionary under the definition of failure, you would see a picture of Hillary Clinton so please copy talki keep talking. The more youre talking, the more we are going to be winning. Ashley i have to ask you this. A few bigname republicans have come out saying they will not support the president in november. Colin powell, he says hes siding with joe biden. Both senator mitt romney, no big surprise, former president george w. Bush say they wont turn out for him, according to a report in the New York Times. Do you think this could swing those voters that are on the edge on who they are going to pick . Does it have a big impact . I really have to wonder if any of these former republicans actually believe in the things that republicans believe in, because if you are going to support joe biden, you are now saying you support higher taxes, more government regulation, taxpayer funded abortion until the moment of birth, gutting the United States military. These are not things republicans have ever supported so the fact that you could now support joe biden and endorse those policies, make me question whether you were ever a conservative to begin with. Ashley you know, the jobs report last friday was a surprise to everyone, even the most bullish economists. If this can continue, how strong a hand will that be for the president going into november, a vshaped recovery as its called, that could be very strong plus for his for the vote and for his reelection. Absolutely. I think its what the American People want. We dont want to be locked up in our basement, locked up in our houses. We dont believe in burning churches. We believe in going to church. So as the American Experience can reopen, we can get freedom going again, get people back to work. Its going to show the American People that President Trump was right. He was right in shutting down china travel, he was right in getting the American Government out in front with vaccines and delivery of the vaccine and as we can come through this, i think it will just show the American People that the president s strong leadership was right and all of the democrat handwringing and hiding ourselves away was not the right response. Ashley quickly, we mentioned the polls. I dont believe in polls after brexit and the 2016 election but the polls show that mr. Biden has a lead in quite a few of the states and overall. That give you any pause, does that make the campaign think about its strategy . Does anything change . No. In fact, the polls said the same thing back in 2016 and going back to our original question, ask Hillary Clinton how that worked out for her. We are absolutely fine. We are on track to reelect President Trump in november. Ashley well have to leave it there. Marc lotter, as always, Strategic Communications director for the trump campaign, thank you very much. Appreciate your time. As we wait for the ringing the bell on wall street, just a few minutes away now, look at this. What a rally. We had a great week last week for the markets, especially on friday with that amazing jobs report. Dow jones up 242 points, the s p up half a percent, the nasdaq, the Big Tech Companies on the nasdaq a little slower to wake up on this monday morning but overall, pretty darned good. All right. As we head towards the break, we can tell you a few things that are coming up. Obviously the markets, we want to get into some politics and on a day of economic recovery, well have someone who says we are entering the golden age of streaming on the markets. The opening bell, his name is jeff sica, you know him, opening bell coming up next. In my line of work, i come face to face with a lot of behinds. So i know theres a big need for gasx maximum strength. 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Ashley all right. Lets check the futures one more time for you. Amazon up, well, lets take a look at amazon. The dow itself up 227 points. A nice start to the week is what were saying ahead of the opening bell, which is coming up literally in three minutes. Lets take a look at amazon. This after the royal bank of canada raised its price target to 3300. That is a vote of confidence. Right now, its not close to that, is it. 2509 in the premarket, up another 26 bucks. Thats a nice price target for amazon from the royal bank of canada. Check the streaming names, if we can. A lot of people watching them the past few months in lockdown, we know that. Our next guest says we are entering the golden age of streaming. Jeff sica, come on in. Make your case. Well, i mean, you said it exactly. If theres anything when we look back on this lockdown, we are going to remember, its that we consumed a lot of streaming. You know, they say that there was about 15 Million People signed up for netflix just in these three months. What they really are, they call them subscribers but what i call them are prospective addicts. You have people who right now have found a way to distract themselves by streaming and bingewatching thats not going to change, so the old model of hollywood and the studios and going to the theater, thats been broken. That was broken for awhile. Thats going to change. Everybody is addicted to netflix, hbo max, disney. They are all going to be creating content and people, even though they may not be government mandated lockdown, they are still going to be addicted. They are going to need their shows and they are going to need to binge, and thats whats going to create the new golden age of entertainment. Ashley so disney, netflix, winners. Any losers in there . What about hulu . They going to be able to keep up . No, i think the hulus, rokus, i think they will have their piece. I think its so massive. If you look at the 15 million just who signed up for netflix, and you dont even count the fact that out of these 15 million, we have a lot of people who are doing this password sharing so thats how big the market is. That market could be massive enough to have a lot of players. Granted, disney owns the content, they own the most content. Netflix creates the most content. They are the king of content of created content, then you have the rokus of the world who i happen to like, they are going to get their piece and its going to help. The losers are the cable companies. Theres a lot of losers here. Ashley right. We hear you strongly, jeff sica. The bell is ringing on wall street and the nasdaq. We are getting ready to start a new weeks after a big week for the market last week. We are expecting to see a lot of green based on what the premarket was telling us. Im seeing a lot of red. Not sure what thats about. We are up 144, though. I see more red than green. Its interesting, isnt it. Not quite the strong but boeing leading the way, at the other end walmart at the other end dragging behind. We were hoping for a 230, 40 point jump. We are up 145. We arent going to snub our nose at that but we thought it would be stronger. Lets take a look at the s p 500, if we can. That was up about half a percent in the premarket. Its up a quarter of a percent. Same story, 320t2 and the nasd up nine points at 9823 on the nasdaq. Lets take a look at the financials. Lot of people saying all right, financials, weve had a strong run and they continue to move higher. Bank of america up again another near 2 , jpmorgan chase, citigroup, morgan stanley, goldman sachs, all showing gains right out of the starting gate this morning. Take a look at the airlines. They have also been on a tear lately. These are the recovery stocks, i guess you could say. Lauren, what have you got on the airlines . Lauren its unbelievable how these stocks keep going up. Its pentup demand. Its the country reopening and people want to go somewhere. The tsa just sent out their latest numbers, this is for yesterday, how many passengers went through tsa checkpoints. 441,000. So yes, down substantially from last year, but thats the highest number we have seen in quite some time. While the airlines are up and up in a big way, they are not out of the woods. As you know, American Airlines is offering severance packages to some of its executive, you know, high level workers because they need to fly less to cut costs because people arent flying as much anymore. Lauren right. What about the cruise lines . We know how they have been decimated. Lauren look at these numbers. Carnival is up another 10 . These three stocks last week were up at least 34 and the gains continue, yet theres no sail order by the cdc so they arent sailing any time soon. Its again pentup demand but also value. Prices are cheap right now and finally, a lot of people are starting to say you know what, we think the industry is going to get this right. Its going to be safe to cruise. Top destinations being booked for 2021, if youre interested, caribbean, alaska and europe. Not bad. Ashley beach in the caribbean sounds pretty darned good right now. Lauren, thank you very much. Lets take a look at those big tech names. Come in, susan li. Is the party over for them . Are they seeing a little bit of a pause right now . Only amazon up in the early going today. Susan so yeah, bit of a pause, i would say. Dont forget, we had the nasdaq hitting a record on friday, thats being powered by the likes of amazon and apple. Apple still sitting above a record high so we are looking at 330 apiece, almost, and tech has more influence today than it did five years ago so now they account for about 20 of the s p 500. Five years ago, that was just around 12 . A lot of people have been buying and rotating into big tech, especially the day traders, because if you look at the new app, trading app called robin hood, they say trading in s p 500 positions doubled from midmarch up until midmay, according to goldman sachs. That says a lot of money is coming into the markets from a lot of young, maybe firsttime buyers and they are viewing the big tech as a place to put their money. Ashley probably not a bad idea. Susan, thank you very much. Lets move on, if we can. We have already had a look at the big tech. Only amazon moving forward. Lauren, what have you got on the retailers . Retail is also trying to bounce back. Lauren well, they are allowed to do Curbside Pickup in new york city, other states are allowing you to actually go inside the store and start shopping. For the most part this is good news. Lululemon is a winner today, stock up last i checked about 1 . They got two price target increases today. The reason lululemon is attractive right now to many analysts and investors is atleisure, comfortable clothes. If you are working, you are likely working from home. I have leggings or sweatpants on every day. Ashley i have shorts on today, actually, but thats another story. Restaurants also up too, right . Lauren yeah. Open table says restaurant bookings, okay, its a terrible number, they are down 74 . However, they were down like 100 when we were in the depths of this. So look at the restaurant sector. Cheesecake factory up about 7 today. Ashley you said the magic word. Cheesecake. Lauren, thank you very much. Lets take a look at the big board again for you. We were hoping for maybe well, there you go. Now we are up 208 points. Just kind of got our act together. The dow at 27,330. Impressive indeed. Lets take a look at the tenyear treasury yield, if we can. Its been on the way up, right around, yeah, there you go, up another five basis points, up 0. 905. Not amazing but certainly a lot better than it has been. Take a look at gold. Money has been coming out of gold as we have had the Risk Appetite come back but up a little bit today at eight bucks. 1691 per troy ounce for gold. Lets take a look at oil. This has been a big story, too. Its been at a threemonth high because demand is up. The production cuts allegedly carried on by opec through the end of july. Susan, good sign for the economy, although its down slightly today. Susan also shale producers, because its such a good price now, threemonth highs, the shale producers have turned the tap back on. Also, we also have the price rally because onethird of the gulf of mexico production has been shut down because of the impending incoming storm of cristobal and china, you see demand, imports for oil hit an alltime high in may. China needs oil, we also have cuts in production that reduces the supply and people say its really a supply equation. If you remove a lot of the supply in the market, thats why you have this bounceback in the oil price with more flying taking place now. Ashley thats right. Demand everywhere. Susan, thank you very much. Thank you, everyone. The dow up 215 points. Impressive start after the dow gained nearly 7 just last week. We are continuing our move upward. Talking of movements, the movement to defund the police gaining some momentum across the country, including new york. But who will these cities call if they need help . What effect would it have on crime . Two very good questions. Also, dr. Anthony fauci now joining the chorus of those who have attacked china for its response to the virus. Dr. Fauci says normally stays away from politics so is this now medical proof that china did, in fact, withhold information from the world . We will get into that. But not before we discuss twitter. Again, if you search the word racist, the president s twitter account is the first result to pop up. Twitter, of course, blaming the algorithms. We are on that story next. 100 online car buying. Carvanas had a lot of firsts. Car vending machines. And now, putting you in control of your financing. At carvana, get personalized terms, browse for cars that fit your budget, then customize your down payment and monthly payment. And these arent madeup numbers. Its what youll really pay, right down to the penny. Whether youre shopping or just looking. It only takes a few seconds, and it wont affect your credit score. Finally a totally different way to finance your ride. Only from carvana. The new way to buy a car. Across the country, youll see gratitude. Communities showing support in their own way. Our way is massmutual healthbridge, a free Life Insurance program just for healthcare workers fighting covid19. So to all the healthcare workers on the front lines, thank you. Ashley all right. Lets take a look at the markets for you. By the way, the nasdaq just hit an alltime high. We were saying the big tech stocks, somewhat on pause. But the nasdaq gained close to 3. 5 last week, up just. 1 today but enough for a new record high. Take a look at dunkin, the donuts folks. They are planning to hire 25,000 people. Thats good news. Thats a reopening story for you. The stock up nearly 4 today at 70 bucks on dunkin. Las vegas casinos on finally reopening. Lets take a look at this. The bellagio fountain show is back, honoring health care workers. Nice sight, is it not . And take a look at caesars palace. Caesar is wearing a gold mask to be politically correct right there. Thats interesting look, is it not. The casino stocks are, well, they obviously have had a tough time up to now. The casino stocks trying to make a comeback. Lauren, did they attract more people this weekend . The stocks are higher. Lauren well, unlike caesar, many of the visitors did not wear masks. I saw a lot of videos on social media of i have to say crowded casinos and that is great, the casinos, you know, folks are trickling in, but they werent wearing the masks. Of course, all the workers were, at many hotels and casinos i saw just on videos people are posting on social media. We dont have exact numbers from the reopening weekend yet in terms of how many beds, how many people showed up but traffic on the i15 corridor is picking up and so are the number of flights that are flying out of the airport there. On thursday and friday, 190 arrivals but in may it was more like 140. So things are slowly reopening and people are having fun again. Ashley we understand the message and that i15 corridor out of l. A. Straight to vegas, people dont want the fo fly, t can always drive. Its about four and a half hours, four hours if you break the speed limit. Good news for vegas. They need the business. All right. Enough of that. Susan, what about the lockdown winners like zoom and peloton . Will there be a pullback now that states are reopening more . Susan yeah, they have run up so much and been trading on a lot of shall we say revenue increases, more users coming on. Thats certainly the case when it comes to zoom. This has got to be the stock of the year so far, zoom. Went from an 18 billion company to now worth over 60 billion. So its worth more than activision blizzard, its bigger than ebay, bigger than electronic arts. All this, by the way, just in five months time. They went also from ten million daily meeting participants to 300 million. The point is, can they continue this type of growth and some say no, because if you look at the stock, its priced at 80 times sales, price to sales and only one stock in history has really done that successfully and thats a Company Called amazon. Some are just taking money off the table because its been priced in how much growth this company has seen. Now, as for peloton, i was looking at the numbers and subscribers went up almost 94 from a year ago in the years First Quarter as people are stuck at home, they have no place to go to work out except on their bike. Will this continue as you see people are a little skeptical but still, pretty good growth rates and its really put them on the map. Peloton is being called the netflix of the workout world. One more stock for you, slack. It was a pretty good report card they put in last week but it wasnt great enough. Thats kind of the high bar for these type of workathome stocks because if you are getting 49 of your money from a certain cluster of clients, will they keep paying that amount once you reopen and people are back at work. Ashley yeah. All very good questions. Once now that we are starting to get out more, will these stocks and these products continue to be as popular. Zoom, ive just got a feeling its going to do well. Well see. Susan, thank you very much. Lets check twitter, if we can. We have been talking about this. When you search the word racist on twitter, President Trumps twitter account appears as the top result. Now, when asked about this, twitter blames an algorithm for what it calls a recommendation of the president s account. Not sure what that means. Lets bring in matthew taylor, the creepyline director. You looked at how social media influenced the 2016 election. Is this just another attempt to influence politics again . Well, look, this is part of a long kind of history of these big tech platforms basically manipulating the conversation in politics. I mean, a big example is back when you would look for republican races in 2018 and it would autofill republican racists or when google added naziism to the California Republican platform. So the problem is that these platforms have become the moderators of what is good and bad, and they blame the algorithms all the time and say oh, its the algorithms but the thing is, the algorithm is encoded with the ideas of the people who wrote the algorithm because again, the algorithm has to make a decision, if i look for donald trump, and up comes racist, or if i look for racist and up comes donald trump, thats a values decision, a variable that would enter into the algorithm and sure, the algorithm may evolve and collect information, it will make more decisions, but theres a baseline in which these companies have become the mediator of what is good and bad and if you happen to be in the bad category, according to them, well, you are in the bad category. Ashley right. Right. In other words, youre a republican, it appears. I mean, you know, matthew, how does this change . We seem to have a lot of these conversations, but what can be done to level the playing field, to stop this kind of influence . Well, look, at the end of the day, these companies, because they are the mediator of what is good and bad, look, you dont have to like the president or you can love the president , but you should be able to make that choice. They are not the ones that should be able to make that choice for you. By holding their thumb on the scale, what theyre doing is theyre tipping political speech towards their direction and the problem is they are the only way we get information. Google searches is 80 to 90 of how people do anything these days. Facebook is the largest news provider in the world at this point for billions of people. So at the end of the day, people need to be able to make that decision. I like the president or i dont like the president based on all of the information, not based on them putting their thumb on the scale because heres the thing. They also censor things and you wont even see the other side so you wont even know. You dont have to like the president but you should at least know all the facts about why you dont like the president as opposed to someone telling you just shouldnt like the president. Ashley yeah. Seems like we talk about it all the time but nothing ever changes. You know, there are certain people out there who use these platforms that rely on these and are influenced by them. As you say, they are not algorithms. These algorithms are encoded by humans so thats where we see the bias. We are out of time. Matthew, thank you so much for joining us. Thanks for having me. Ashley thank you very much. All right. The market up 250 points on the dow. Thats pretty good. By the way, on your screen, just three of elon musks creations. The most recent, of course, being that spacex launch. But up next, we have a guest who is betting on the cybertruck of all things. But is it really all about musk . Lets find out. The cybertruck. We will get into that next. You doing okay . Yeah. This moving thing never gets any easier. Well, xfinity makes moving super easy. I can transfer my internet and tv service in about a minute. Wow, that is easy. Almost as easy as having those guys help you move. We are those guys. Thats you . The truck adds 10 pounds. In the arms. Okay. Transfer your Service Online in a few easy steps. Now thats simple, easy, awesome. Transfer your service in minutes, making moving with xfinity a breeze. Visit xfinity. Com moving today. Ashley all right. Lets check the markets for you. Again, up 244 points. You may notice at the bottom there, the nasdaq just turning slightly negative, down five points after hitting a new alltime high. The s p up about. 33 . Lets take a look at tesla. You remember their cybertruck . Of all the things that elon musk does, its hard to keep up with him, but yes, the cybertruck. Our next guest says it can be one of teslas best products because it can be reused and recycled. Lets bring in levi tillerman, author of the great race. Levi, you like it because its environmentally friendly. Explain. Well, its not necessarily environmentally friendly but it could be environmentally friendly. The same thing that makes the cybertruck so compelling in its simplicity as a design product means that you could potentially disassemble it and recycle the pieces of it very easily. Some of those pieces are very valuable. For instance, the battery, and that steel exoskeleton we have all seen. Ashley okay. Of all the things he does, its interesting you pick on the cybertruck. How far along is the production of the truck and is it being used anywhere . Is it still in the trial stage . I think theyre still working on specifications for the final consumer model of the truck, and what we are urging elon musk to do is to think not only about how hes going to put that vehicle together, but also how hes going to take it apart. Because at the end of the day, wrapped up in each vehicle is enormous material value, and today, when we scrap that vehicle, we waste most of that value. The vehicle is designed, you can disassemble it and recapture that value. Its going to be a much better investment for consumers and much better environmentally as well. Ashley would you say that elon musk is riding high right now, hes had the pt barnum comments and everything but he seems to be winning more people over. Would you say hes really riding a wave right now . Elon musk is one of a kind. He dreams big and he frequently executes. So we think it would be great if he once again led the Automotive Industry into the environmental future by designing the worlds first what we call circular car. A fully recyclable automobile. Ashley well, if anyone can do it, its elon musk. Im sure of that. Levi, thank you so much for taking the time to chat with us this morning. Thank you. Thanks for having me. Ashley all right. Coming up in our next hour, mayor bill deblasio looking to defund the nypd. We are talking to a new York Lawmaker who has been critical of the mayor on this program before. Im sure he has something to say about that. We are following the fallout at the New York Times after a tom cotton oped gets published. The opinion editor is now out after an employee revolt. Whatever happened to free speech . We will get into that. Fridays blowout jobs report could signal a turn in the economic recovery, right . So what does this mean for the president in november . We are talking to the action pac next. Can ashley welcome back. Everybody, im Ashley Webster in today for Stuart Varney. It is 10 00 a. M. On the east coast. Were 30 minutes into the big show on a day where new york city is reopening. Not bad at all. I want to bring in, yeah, i want toe bring in, take a look at the financials if we can. The dow is off to a great start, up 282 points. Boeing by the way making up 180 points of that. So boeing has been a big gainer last week and starting again this week. Take a look at boeing up 11 , 22 points at 228. 100 and how many was that, justin . 158 points. I said 185. I switched it around. Needless to say boeing do a lot of heavy lifting because the dow is up 272 points. All of this, nations largest city as i was just going to say begins the first phase of reopening after nearly three months in lockdown. Well keep you updated at new yorks throughout the hour. There is sixth avenue, not many vehicles. But today is the beginning, phase one. We saw saw benefits of reopening last month after the economy added a record 2. 5 million new jobs. Now lets bring in steve cortez, America First spokesman. Steve, great to see you this morning. Does this signal real economic recovery . Are we only going up from here . Ashley, it sure does. This is the biggest jobs report in american history. It is really hard to exaggerate how important this is. The Great American recovery begins. We know we have a long way to go to reclaim the heights of the trump boom we were enjoying recently as a few months ago. Nonetheless the american renaissance commences and does so with gusto. That is important for all americans regardless of Political Party. To connect this to politics. This is important if you contrast, look at team trump, the white house, president and his team working around the clock on jobs, jobs. At the same time what has team biden been doing . His top Campaign Staffers have been literally donating to bail out of jail violent rioters in minnesota. This contrast is stark and telling when it comes to the election. We want jobs not mobs. And the focus of the American People now needs to be on our economic recovery. Ashley well youre always have the critics of course. After that big jobs report, surprising jobs report on friday, did you see the tweet by paul krugman. He says this being the trump era, you cant completely discount the possibility that they have gotten to the bureau of labor statistics. But much more likely the models used to produce these numbers, they really arent raw data but have gone haywire in a time of pandemic. Hmmm. He is trying to say dont believe it. What do you make of that . Right. Ashley im not surprised. Paul krugman who told us immediately after the election in 2016 that the economy would tank and that the stock market would crash. Of course the exact on sate happened in both of those cases. The economy soared as did stocks. Paul krugman unfortunately has a record of not really being an economist, rather than just a leftist provocateur. Here is the bigger point again. I dont care if youre democrat or republican, if youre black or white this, recovery is great news for all of america. Something all of us should be cheering on. Confidence begets confidence. It can become in some ways selffulfilling. This is a key component of this american renaissance. By the way in terms of jobs added, ash, this is important, these are very, very quality jobs. We had over 400,000 construction jobs, over 200,000 manufacturing jobs. Again, we have a long way to go, i will be the first one to say that, many miles to go before we sleep but nonetheless this is great news that should be celebrated by all of america and news we can build on here from the entire country. Looking at politics, it is also great news for the trump campaign. Ashley another one for you steve, the latest polls on the 2020 race have not been that friendly towards the president. Polls in wisconsin, ohio, arizona, show him trailing show biden. What do you make of all of that . Right. Well look, first of all, i think those of us working to reelect the president need to always act as though were behind. Im not sure we actually are. That is the right posture anyway. Lets hustle and work if we are staging a comeback to win. Regarding these polls. I would say a couple things. There is certain amount of poll reluctance amongst Trump Supporters. Theyre quite frankly not willing to tell a stranger in particular that they support the president. That is unfortunate. I think part of the reality. I would also say that the only polls that really matter will come in november at the actual polling place. Lastly regarding joe biden, he has not yet been defined as a candidate. The news cycle is so dominated, which is understandable. So dominated by the virus, riots, outside events while joe biden is sitting in his basement presumably eating oatmeal and not being efined as a candidate in front of the American People. Once we get back to sort of a regular political season which i think is now happening into the summer, once we get the chance to shine a bright light on joe biden, just what a radical he is, i believe the polls will move demonstrably in our favor for trump. Ashley well have to leave it there. Steve court test, America First, thanks for joining us today. Appreciate it, ashley. Ashley all right, switching gears now, doctors at the university of pittsburgh say that the coronavirus appears to be declining in potency. In cases appear to be less severe than when the pandemic first began. Lets bring in dr. Marc siegel, fox news medical contributor. Doctor, is there anything to this report . Are you hearing it elsewhere . I think so, ashley. Weve been hearing it a lot of places. First of all ive been hearing it here in new york. Ive been hearing it in multiple hospitals and physicians in new york, not that theyre not seeing cases in the emergency room, they are, but the cases have less severe symptoms. We also heard that out of northern italy. Physicians in northern italy are noticing the same thing this was a very strong statement out of the university of pittsburgh medical center. This virus weve been examining under the microscope. Eventually it will mutate, it will change and different strains will spin off. The ones that have selective advantage for survival are actually milder cases, ashley, because they jump to more and more hosts. If you kill the host, if the virus kills the host it has nowhere to go, stuck inside the host f it jumps from host to host it is milder. Pandemics often have that, over time, the public have not been informed on this, over time pandemics usually get milder. Ashley what does that mean for a second wave then, doctor . We heard from many people who fear that. Does that diminish the chances . I think it diminishes the chances of a ferocious second wave that what we all look at the most is hospitalizations and deaths. Perhaps there might be a second wave in the fall that is milder than anticipated that would be very, very good news. Its too soon to tell. Clearly social distancing has helped. A lot of things have helped but right now were seeing the number of deaths and hospitalizations go down which is good. Ashley right. Were also, doctor, just learning about a new Harvard Medical School study that finds that the virus may have hit china much earlier than we thought. Satellites apparently picking up dramatic surges in cars and traffic around hospitals around wuhan central to the outbreak, in the fall, long before the cases were first reported. Thats interesting, is it not . Im very angry about this, ashley, but im not surprised. I saw cases coming out of mexico, coming out of europe, coming out of china much earlier than this. We long believed, many doctors, including myself long believe this might have come out of china even in the summer, late summer. Even dr. Fauci finally admitted the other day, you know what, chinese scientists didnt tell us everything we need to know about the virus. We didnt know about blood clots, how inflammatory it was, multiple organs and we were not told how contagious it was. We were not informed. China was not busy blocking internag travel in europe. The virus was wildly contagious. Not a surprise it was there a lot earlier than they said. I totally believe satellite findings out of Harvard University are showing. Ashley right, dr. Anthony fauci did slam china over the weekend, doctor, over the handling of the virus, we brought it up earlier, the authorities that did not allow the scientists to speak out openly and transparentlys they did did a disservice. That is certainly the case. Dr. Fauci is the scientist. He doesnt get involved in the politics. We know what the administration said about china this really does back up that claim, does it not . Yeah. You know, here is an interesting point on that, ashley. Dr. Fauci has direct relationships with chinese scientists at they have conversations. Dr. Fauci has talked to me about this in interviews and you know what . They dont have, they didnt have the information that they needed. They werent told what they needed to know. Ashley right. We werent told that put us behind the eight ball right from the start. Ashley it certainly did. Dr. Marc siegel as always, thanks so much for joining us. Much appreciated. Great to be with you, ashley. Ashley take a look at markets. Still above 200 points on the positive side. For the dow up 215 at 27,324. The nasdaq just slipping into negative territory down a third of a percent. S p though up about. 2 of a percent. Lets take a look at oil. Now it has been, well, we wanted it above 40. We thought it would be above 40. It was down a buck at 38. 50. It is still near three month highs. Susan what is actually moving the oil price right now . Susan reduction in supply. Saudi arabia saying it is not going to extend the extra oil cuts they promised through to july because oil prices have come back up. Still though, if you look what opec plus is doing, theyre removing around 10 Million Barrels per day that will extend towards july. Some countries like algeria and iraq who have been cheating a little bit on oil quotas, saying they will cut more Oil Production because they were caught doing that. Still if you look at a crystal ball, that Tropical Storm in the gulf of mexico, shut down third of production, that dramatically cut oil prices this is good news for shale producers across the country. Other states have turned spigot back on. When they turn spigots back on, jobs come back. Thats a good thing. Ashley as susan mentioned cristobal it is a tropical depression moving north through louisiana, right, lauren . Lauren yep, thats correct. First week of Hurricane Season so so active. Tropical depression cristobal made landfall in southeast louisiana, bringing flooding rain, strong winds. Continuing to lash the gulf coast from Southeastern Louisiana to mississippi and alabama, moving north, northwest at 10 Miles Per Hour with 35 miles an hour winds. It even spawned, ashley a tornado in orlando, florida, causing damages of one Million Dollars. The track of the storm will move north, to the midwest tomorrow, likely. Meanwhile, los angeles, louisiana, declared a state of emergency and President Trump is expected to sign that declaration at some point today. He says fema is are in louisiana. Ashley all right. Very good. Lauren, thank you very much. A big blow to the New York Times. The opinion editor resigning over the weekend after a dispute over whether the paper should have published an oped by senator tom cotton on the handling of violent protest. We are getting new reaction from senator cotton and media buzz host howard kurtz will join us later in the hour to weigh in. Enough is enough. One iconic new york pizzeria defying government orders vowing to open today as the city enters phase one a phase by the way does not include restaurants. A movement growing across the country to defund the police. What new york citys mayor is proposing now and effect it could have on crime. Thats next. Defunding the police is the single dumbest idea i ever heard. Who will process crime scenes, arrest bad people . Who will enforce any law, child sex abuse, homicide, who is going to do it if it is not the police . Can. Ashley lets take a look at these markets, as we kick off a new week after a great week for the markets. Guess what . Were up 257 points on the dow, s p up a quarter of a percent. Nasdaq is falling down a quarter of a percent. It hit a alltime high earlier. Good start to the week. Speaking after good start to the week, look at shares of tesla, the stock up another 29 bucks up at 914, this after it was reported sales of its model 3 car in china more than tripled in may. Good news indeed. That stock showing why, up more than 3 for tesla at 914. Take a look at thor industries, the rv maker, hit an over twoyear high. It is pretty impressive that is interesting, up, 7 , 7. 6 at 10dollars of a doubling its profits. More people buying and getting out on the road. Now this, a doughnut shop in rhode island is ending perks for police and military members. Susan the details. Susan in rhode island they stepped into controversy over the weekend when they stopped Offering Police and military personnel doughnut discounts. They say it goes back to allegations raised friday by an africanamerican firefighter says he was racially profiled by the Providence Police officers last week. Alis doughnuts said theyre fed up until Police Take Action with problems with racism and injustice. People associate doughnuts with police officers. It is traditional you offer free doughnuts to the police force. They are trying to keep people safe. In this case, this also raised anger because it seems disrespectful to the fill mary and police personnel. Some are also in agreance with racial equality and justice. Ashley yeah. All right, thank you, susan. President trump, by the way, meeting with members of Law Enforcement at the white house. As the push to Defund Police forces is actually gaining momentum across the country. Come in, lauren, what is new york citys mayor planning on this . Lauren well the new york city Police Department has a 6 billiondollar a year budget. Ashley, mayor bill de blasio wants to change that reallocating some of those funds. Listen. Just a day or so ago, regarding some of the stints that happened this week, and i want to make very clear. I want to talk about very quickly a few incidents. There are more under investigation. Each investigation will follow the facts and where discipline is needed it will occur. Friday an officer in brooklyn shoved a woman to the ground. Susan okay. That was the wrong sound bite, ashley. He basically wants to do, take some of money going to the Police Department and give it to Youth Programs seen their funding according to the protest protest proposed budget in some cases 3 . There is difference between defunding the new york city Police Department and dismanning the department is what minneapolis is trying to do. Proponents saying that society can fix a lot of Problems Police known to fix. Drug problems, for instance. Mental health problems. So theyre trying to take some responsibilities and some funding away from Police Departments and give it to other Market Forces if you will, ashley. Ashley got it. Lauren, thank you very much. Lets bring in new York State Assembly mine la pietri. Assemblyman, what do you think of the mayors plan, take money away from police and put it into social services which he claims can better use that money to help people . When i hear these chants from terrible politicians like bill de blasio and aoc this, is exactly why im running for congress to replace retiring on men pete king on june 20 third. When they say defund the police, calling for law and order to be replaced by anarchy and chaos. I say, not on my watch. Police and lawabiding americans need a strong voice for them. That is illogical. Police were taking bricks to the head, stabbed, shot, providing more funding to upgrade the gear, provide additional officers, receive additional training, rather than that they want them to do more with less. Ashley would you agree, assemblyman, there needs to be some sort of reform so the chances Something Like what happened to george floyd can be greatly reduce because if you have bad apples within the department it reflects badly on them all . What do you think should be done to address those issues . We actually have to have it where were building a community between the people and the police. By having this, these type of politics that like to cast a broad brush across all police for absolute terrible tragedy that occurred, what that officer did was despicable and disgraceful, you cant attribute one instance to the entire police force. My constituents on south shore of long island and state legislature and future congressman, those are nypd officers, those people want to keep our community safe. It is important we have advocates out there that champion what they do on a daily basis to keep our communities to protect us from criminals. We have to make sure right people are championing that as opposed opposed to dismantling that. Ashley also, mike, we have to mention phase one begins in new york city today. Up to 400,000 workers returning to jobs in construction, re, manufacturing. Do you have think the mta will be able to handle all of this . What are your thoughts of the plans that have been put in place . Oh, i hope so because right now we have to be ready for people to get back to work. Mainly what youve been seeing people are not working. You have to open up long islands economy. You have to open up new york states economy and the citys economy now more than ever. If you dont, you will see irreparable harm done for the forthcoming years. Ashley do you think the mayor has dragged his feet on this . Should new york city be opening in a quicker fashion . Ashley, much quicker. Absolutely. People are aching to get back to work. Lawabiding americans sheltering in place following rules, yet youre seeing riots on the streets. Just last week all across new york city. People are frustrated, looking at it as hypocritical and that defies common sense. People rioting on the streets, like lawabiding americans, were getting back to work. Ashley well leave it there. New York State Assemblyman mike lipetri. Thank you very much. Appreciate it. Thank you. Ashley Airlines Starting to see signs of a recovery you about delta announcing it will suspend flights to 11 u. S. Cities indefinitely. Where you wont be able to book a flight on the Airline Coming up. Well get into that. Real life Treasure Hunt coming to an end finally after a decade long search. Detail of a chest found in the Rocky Mountains and how much its worth. Well be back. This is decision tech. Find a stock based on your interests or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Ashley lets take a look at the markets for you. Still strong on the dow, up, losing a little bit of steam, up 184 points on the dow. The s p up slightly. The nasdaq continues to drop just a little below, down about. 2 of a percent. All right, eight states are easing restrictions today. Delaware, kentucky, massachusetts, michigan, mississippi, new york, rhode island and west virginia. So lets take a look at the airlines. They have been moving higher. You could argue that they only have one way to go but they are gaining strength, all on this positive reopening news. United, american, jetblue, all up nicely. United up more than 7 , up more than three bucks today. Also benefiting from all the reopening the cruise lines, who have been absolutely crushed but those stocks moving higher. Royal caribbean up 2 . Norwegian cruise lines up 9 . Carnival up 11 . These stocks have been so beaten up and they are coming back. Demand at end of this year and next year, is showing strong indications which is helping the cruise lines move higher as far as their stock. Another big winner, the big banks, the financials have been coming on strong and again today. City group, goldman sachs, jpmorgan, all up modestly so one or 2 but keeping that trend going. Staying on the reopening theme lets get out to chicago where businesses are pushing to reopen after weeks much virus lockdown and days of unrest due to the protests. Grady trimble following it all. Good morning, grady. Reporter hey, ashley, businesses here were really hit with the onetwo punch. They were locked down for 2 1 2 months because of the coronavirus. Then the looting started. So a lot of businesses even today are still boarded up but others after a weekend of protests that were all peaceful, no looting whatsoever, starting to say we can finally reopen even though we were expecting to be able to last week. Now it is safe to do so. This restaurant in the Lincoln Square neighborhood has an interesting story. When they knew they had to close down for coronavirus they boarded up. Last week they started to take down the plywood and then the looting hit. So they had to put it all back up. Now theyre getting excited to open up for business for Outdoor Dining once again. What were really seeing here in chicago, businesses that were expecting to open last week, now this week, ash, will be able to stander reopening in ernest. I will leave you with this, positive pictures of businesses getting back to it. Ash . Ashley great, stuff, grady, thank you very much. It is nice to see tables outside of restaurants. It is a start. It is positive. Now this amid the reopenings there is also other positive news. Lets bring in Danielle Dimartino booth, Quill Intelligence ceo. Tell me about furniture sales . It is really interesting. Bank of america does a really good job of tracking the january you lar data. So youre looking at individual sectors of spending in the economy. What they found for the three states that opened the most, the most aggressively, if you will, furniture sales were up 35 yearoveryear. That compared to 21 for the nation as a whole. So you are seeing evidence of pentup demand on the part of consumers once they reopen the economy. I think furniture is a very appropriate sector for us to be seeing this much strength, for a lot of people shut in for a long period of time, their couch is the last thing they ever want to see again. They want to spruce things up, if they can, of course. Ashley if they can, thats true. I thought last fridays jobs number, does that validate what markets have already been telling us about this recovery . Well it does. It was certainly a surprise to the upside. I would caveat the miscalculation error that the bureau of labor statistics put out, was extremely rare. Oops, we lost five million. I think economists are taking something of a more wait and see approach to see what we see in the coming weeks, with continuing jobless claims. The other cautionary note that i would put out there, even as were seeing, for example, furniture sales increase as states reopen, you have got lazboy shutting down a mississippi plant, laying off 850 workers. Again, there is going to be a tugofwar between the enthusiasm that americans have to get out and spend again and going to compete, however, with a lot of americans whose, either lost their jobs or the incomes are a lot lower than they were before. Ashley right. The fear, danielle, is the lay offs. How many of those people who lost their jobs are able to get them back . What is the ability of companies to rehire these people . That could be touch. Especially as the government money runs out for Small Businesses later in the year, you know, later in the summer, all of that could combine to make it a little more difficult. There are a lot of competing factors as we head into the summertime. As things stand right now the extra 600 a month on top of unemployment insurance, excuse me, 600 a week, which you get 2400 plus a month added on to your income, that is set to expire at the end of july. Were seeing actually angst sheet pick up in terms of consumers are saying i will delay the car purchase, im not sure whether the moratorium on rents will go away. Whether i have my job. Whether Small Business will rehire me or not. A recent poll of Small Business owners said they would get to 25 less of their workforce if they remain open by the end of 2021. So youre still seeing an appreciable amount of workers not expected to rejoin the workforce for a long time. Ashley but with regard to the market, finally, danielle, are you confident . Are we overdone a little bit on the buying . Are we going to see even more growth towards the end of the year, and will that be reflected in the markets . I do think that were seeing this distinct rotation in the stock market right now. There is a lot of euphoria. Stocks are more overvalued than they have been since 2000, 2001. There is something to be stayed for making sure youre a little bit hedged where you are right now, because stocks have come back so strongly. We dont necessarily dont have full justification for that until we see where these lay off data are really headed. Ashley just a little bit of caution. Danielle dimartino booth. As always, danielle, thank you very much. Thank you. Ashley all right, now to the airlines. Delta, as we said earlier will pull service in a number of cities. Susan bring in the details. Susan 11 cities in total. Part of 75 authorized cities where the department of transportation told airlines you can flight too. Lincoln, nebraska, aspen, colorado, bangor, maine, some names have been approved by delta to pause the flights starting on july theth. 8th. Delta is pausing but america and united adding flights. Capacity is still down 50 more from last year but i should also announce that united is also closing three of their four International Hubs which will come with job losses. Theyre of the shutting down in frankfurt, tokyo, hong kong. Theyre keeping london open. What a week for Airline Stocks last week a record up on average 35 for these airline shares but as you said, you can only go up from those levels. Ashley thats true, thats true but wow, really cutting back service, some of these airlines. I guess they have to streamline at least for now. Susan, thank you. Starting today boston restaurants can serve customers in Outdoor Dining spacing only but will that be enough to keep some of them in business . Well speak with one owner who says it is better for him to stay closed right now. Over in new york where restaurants are able to serve anyone right now, one iconic pizzeria says they are going to open anyway. More on that next. 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. Ashley welcome back, everyone. The markets still up higher. The dow is up 185 points. The s p is up about a quarter of a percent at 3201. The nasdaq also just ever so slightly turning positive again, up 2 points at 9816. We have new details on a potential merger between two drugmakers, astrazeneca and gilead. Lauren what is it all about . Lauren it would be the biggest pharmaceutical deal ever but looks like it is not happening. Bloomberg reported that uk astrazeneca approached gilead for some sort of merger or deal. Now why is this important . Astrazeneca is working on a Coronavirus Vaccine and gilead makes the treatment for coronavirus remdesivir. Are they talking . Reports say they are not. Citi analysts do say a merger is very unlikely and the reason being that both governments would have to green light a merger. Citi doesnt think thats possible. Nonetheless stocks are moving on this report. Now astrazeneca since it is more unlikely they do do this deal with gilead, that stock is down 3. 25 right now, ashley. Ashley lauren, thank you very much. From drugmakers to pizza makers, an iconic new york city peas rea says enough is enough, plans to reopen today. Susan. Susan he is not supposed to. This is iconic pizzeria in new york on six of this avenue. It was part of damage and looting that took place last week. Grimaldis saying enough is enough. You can only open in phase two. Then only Curbside Pickup. Grimaldis being institution in new york says we want to get back to normal. They are opening today defying state orders. It will be interesting to see what happens to the owner of grimaldis. Ashley it will indeed. Suddenly im hungry. Susan, thank you. Boston continues to reopen, speaking of hungry, continues to reopen with a number of restrictions including restaurant capacity. Lets bring in chris coombs owner of boston chops. I dont know. My french is not great. Can you afford to stay open, chris . Can you afford to stay open i guess is the question if you have to limit the number of people in your restaurant . Well, thank you for having me, ashley. First off, you know, its really great to finally see some progress here in the state of massachusetts and locally with boston. Weve been pretty hard hit and it is nice to see a path with our bipartisan government efforts getting us back to opening but for me i wont be opening any of my restaurants here this week because i simply cant make any money with only outdoor service. Not possible. Not possible. Ashley so whats your normal capacity, chris . How much would your capacity be with outdoor seating . Sure. So just to take an example, duov, my fine dining restaurant in the back bay, one of the neighborhoods that was impacted also bit rioting, typically were about 100 seat restaurant. And typically our patio is about 28 seats. When you put in social distancing measures that takes us down to eight seats in total, and i also know better than to gamble on the weather here in boston as well. So, it is awesome that places are opening, what do you do if you get two or three days in a row, youre not tented, cant provide service . Do you shut for three days . Do you throw away your food . Im not taking that risk. I have one chance at this. I will have to do it right. It will take a lot of liquidity to get back open. Once we go back open well define our solvency that will be based on Consumer Confidence. We sent out surveys to mailing list. We dont think Consumer Confidence is quite there yet. We think it will continue to improve with time though. Ashley essentially, chris, youre going to wait until they allow restaurants to fully open, you know, full capacity. How long could that be and how long can you wait . Im not going to wait until full capacity. I cant afford that. However, we did have great news from our federal government this week. The changes to ppp were just the best thing that happened to restaurants this year and were going to wait until we can open our dining rooms with social distance in addition to the patios which were hopeful will happen in the next couple of weeks as long as we dont see a spike in cases. Then well commence our reopening but we have one shot at this. We have to get it right. Our entire supply chain depends on us getting it right and right now this week is just a little too risky for me personally. So im going to hold a little longer. Ashley i totally understand. Chris coombs, thanks for joining us. We wish you good luck and pray for all sorts of things. Ashley including good weather. We appreciate you taking time out to chat. Thank you so much, chris. Thank you so much for having me. Ashley all right. This is an interesting story. A Treasure Chest hidden in the Rocky Mountains has finally been found after a decade. Lauren, how much money are we talking about here . Susan a Million Dollars. This is a modernday Treasure Hunt. So a decade ago an author the name of his book, the thrill of the chase, hid this Treasure Chest in the Rocky Mountains and for a decade people have went out searching for it. They quit their jobs trying to find it. Well, finally one anonymous, very lucky man, he is from the east, that is all we know has found it. He found the Treasure Chest 10 years later and he has 10 million in money, coins and trinkets. Ashley where is Stuart Varney today . Im just saying. Just wondering whether stuart has been hike negotiate rockies. Anyway, good stuff. Susan he does live in the east. Could be him. Ashley could be. Lets look at the dow on friday, surging during President Trumps comments on the record jobs report and growing economic recovery on u. S. You wont know it if you were watching one of the Mainstream Media channels. They werent on it. Is this all about politics or they just dont want to hear from the president . The Opinions Editor is out at the New York Times after backlash for publishing an oped by senator tom cotton. Then apologizing for it. Media host howie kurtz will respond to both of these stories next. But first senator cotton just responding to the latest news out of the New York Times. Moments ago, here is some of what he said. Well have more after the break. Lets be clear, this all goes back to the publisher and his unwillingness to stand up to a bunch of 20yearolds and 30yearolds who are raised on social justice seminars on our campuses. [squawks] only pay for what you need. Liberty. Liberty. Liberty. Liberty. The New York Times actually asked me to explain in further detail the point i made. They defended it. The publisher defended the publishing the column after it was published. The mob in the newsroom demanded it would be taken down there would be consequences. Ashley that was arkansas republican senator tom cotton on fox friends earlier today, after the New York Times published his controversial oped. The editor of the editorial page resigned. Lets bring in howie kurtz, host of mediabuzz. Howie, talk about caving, what is your thoughts on this . It was a complete cave and a complete betrayal of the ideas that top times executives had espoused very eloquently in my view when they published the thing in the first place, knowing many full well and many readers wouldnt like the senators contrary opinion about bringing in the military if necessary to deal with urban rioting. James bennett didnt resign. He was forced out even though the publisher the paper, a. G. Sulzberger, said it was important to publish diversity of opinions. They decided running a piece online by United States senator making their argument that actual polls quite well in Public Opinion surveys was just now unacceptable because the staff, you know, led by many black journalists were so offended and so angry. Ashley so theyre the ones who actually determined what is diverse viewpoints . It is diverse as long as they agree with it in principle, but if they dont like it is not acceptable. Free speech, out the window . I grew up in newspapers and opeds used to be a place for debates and running things you didnt necessarily agree with. During the obama years times ran a piece by vladmir putin. Youre not endorsing cottons view. Putting it out there for public debate. Irony about the whole thing and Editorial Page Editor losing his job, cottons argument got 500,000 times more attention than it would have been if the times just left the thing up. Ashley by the way, markets, someone, switched gears a little bit, howie, markets rallying during President Trumps News Conference on friday about a much better than expected jobs report and a faster recovery but you know what . Cnn, mean, and cnbc all cut out early. Is that politics or was it the fact that it was a, donald trump, and b, he had something positive to report . Im going with a because everybody reported on the fact that despite all the news organizations saying unemployment could reach 20 it was just over 13 . Now fox news carried the whole thing. Msnbc dumped out after 11 minutes. Cnn didnt carry it at all. President spoke for 40 minutes. Made news on market. Made news on the the death of ge floyd. Made news talking about protests and his law and order approach. I dont see how cnn justifies that. It is true the president didnt answer questions. That is regrettable. We didnt know that in advance. Pa network that talks negatively about the president , when he speaks in that forum, declines to put any of it on the air . I think more visceral towards this president than it was about the economic subject matter. Ashley would they have done that with president obama . Short answer, no. You know, almost everything, almost every speech obama gave was routinely carried and many of them carried by fox news as well. There were times when the president is giving a the love political speeches you dont necessarily have to carry each one. When he comes into the rose garden to talk to reporters, would have been better if he had taken questions, i dont understand. You have 24 hours a day. Give him 40 minutes or at least a good chunk of that. Take2 3 hours you can say what you think. That would be approach i would take. It was really striking, partial blackout of that particular appearance on the white house. Ashley just shows disdain. Howie kurtz, thanks for joining us. Appreciate it. Well have more varney next. For as little as 5, now anyone can own companies in the s p 500, even if their shares cost more. At 5 a slice, you could own Ten Companies for 50 instead of paying thousands. All Commission Free online. Schwab stock slices an easy way to start investing or to give the gift of stock ownership. Schwab. Own your tomorrow. Schwab. vo at whether on the track,that exhor the everyday drive. Ty, today, that philosophy extends to how we connect with you. We call it, audi at your door. Whether a remote test drive, shopping, tradein, or even service pickup, audi at your door can do this and more at participating dealers. The premium audi dealership experience, on your terms. Audi at your door. I was drowning in credit card debt. Sofi helped me pay off twentythree thousand dollars of credit card debt. They helped me consolidate all of that into one low monthly payment. They make you feel like its an honor for them to help you out. I went from sleepless nights to getting my money right. So thank you. Ashley it is 11 00 a. M. On the east coast and the markets are rallying to kick off the week. Right now, the dow up 248 points, the s p up almost half a percent, the nasdaq also up 17 points at 9831. Record territory. Today, eight states are easing lockdown restrictions. In kentucky, museums, outdoor attractions, libraries and distilleries can reopen. Meanwhile, salons and other personal Care Services could open their doors with limited capacity. In west virginia, Little League and other youth sports are now back in action. Lets take a live look at times square, because new york city starts phase one of its reopening plan today. Well have a live report on that in just a few minutes. Pretty empty. If you have ever been to times square any time of day its usually pretty packed. Now essentially empty even though it is day one of phase one. Now this. It is a new week, fresh off of fridays massive market surprise jobs growth, in a time of stark economic hardship. Top white house economic guy larry kudlow says were not out of the woods yet. Roll that tape. I myself think we need to move from rescue assistance to more longterm Economic Growth incentives. For example, the president mentioned sales tax holiday for the work force. Hes talked about capital gains. Hes talked with tax breaks for restaurants, entertainment, athletic contests, sports contests. Hes talked about tax breaks for tourism. Those were the hardest hit areas and so forth so well be looking at assessing that as time goes on. Ashley and today, white house Senior Adviser Kevin Hassett says the odds of a phase four deal are close to 100 . Time now to bring in economist stephen moore. Steve, you are not a big fan of another stimulus package. You say the spending has to stop. Good to be with you. Yeah. We do need to start thinking about the massive costs of these programs. We have already spent 2. 5 trillion, trillion with a t on all these government programs, and now as you know, pelosi wants to spend 3 trillion. We are hearing now the republicans want to spend 1 trillion. I like the idea, by the way, that larry kudlow just talked about, the idea of a payroll tax cut and a sales tax holiday and other incentives for business to invest, but i dont think we need more spending. By the way, the most important thing we need to do now as this recovery begins and hopefully accelerates is to get rid of the super Unemployment Benefits that are paying 68 of American Workers according to a new report. Two out of three workers are getting paid more to stay home than to go back to work. That is the biggest problem we face and congress has to do something about that because those benefits are supposed to last into july. Ashley how much, what was your reaction to the jobs report friday and how does that, looking forward, do you think speak to the snapback recovery . Is that the vshaped recovery we were thinking about but werent sure it would happen but that jobs report shows that people are wanting to get back and they are getting back as quickly as they can. Well, no one is more surprised boy thy that report t was. I almost fell off my chair when i was on fox Business News with maria and she announced those numbers. It was just amazing. I have been doing this for 30 years. I have never seen anything like that where the experts said eight million jobs lost and instead we got two and a half million jobs gained. By the way, there were some problems with those numbers. The number probably is a little bit lower but its still a spectacular report, no matter how you revise it. And well see if this rally can continue. As i said, those Unemployment Benefits are going to be a big problem for employers. Im talking to them every day and theyre saying theyre having a hard time, its the most amazing thing, we have 30 million americans unemployed and employer ars are saying they ar having a hard time getting people back on the job because of those benefits but yeah, i do think this is the start of Something Big and i want to say one other thing. You were talking about what states are opening now and i think you said seven more states today, but my question is why in the world isnt every state open for business now. My goodness, the last two weeks, the blue states have been invaded by rioters and protesters on the street. Youre telling me you can burn down, you know, a little deli or some kind of store in the city but you cant open up the business . This is craziness. Every business in America Today should be allowed to open immediately. Ashley you are not the first to say that, stephen moore. There are others who say it just doesnt make any sense but the question is how many businesses can reopen. Theres some estimates that maybe half, at least three out of five Small Businesses may never be able to reopen at all. Well, its not going to be three out of five but even if its one out of five, thats a huge, huge loss of businesses. Im on the board of two companies that looks like were not going to make it. We were looking really good before this insane economic lockdown which i said many times on fox business, i will say it again, was one of the worst decisions government has ever made in the history of this country. The cost will be multiple, multiple times higher both in terms of health and the economic damage. But now we are out of that and i think first of all, never, never, never, never again should we shut down our economy. I hope we have learned that lesson. But businesses are ready to reopen, workers are ready to go back on the job. States like georgia and texas and tennessee and florida are showing us you can do it in a safe way. I see no rationale whatsoever anywhere in the United States that a business should not be allowed to open. Ashley right. Good place to leave it right there. Stephen, thanks so much for joining us. Stephen moore. Have a great week. Ashley you, too. Lets check on a couple of big movers this morning. Moderna, one of big Biotech Companies racing to put out a virus vaccine, they got an overweight rating from barclays and Barclays Says they have got the best potential according to their analysts to put out a vaccine first. Not doing anything for the stock, though, essentially flat at 58 bucks. Next one, michaels, the arts and crafts people, soaring today, all on the backs of an upgrade from jpmorgan and their sales looking rosy thanks to a new Management Team thats in place. That stock moving up 32 , 7 for michaels. Take a look at four industries. Huge Earnings Report for huge rv vehicles. Sales are on the up, the weather is good, people want to get outdoors. Maybe not take a plane, get out on to the big highway. The stock up more than 6 at 106 for thor. Take a look at the airlines one more time. Lauren, youve got new numbers on just how many people are actually traveling now. Lauren the numbers are going up. Yesterday, 441,255 people went through tsa checkpoints. That is an increase of almost 90,000 from the day before and it is the most since march 22nd. Still have a long way to go to get to precovid levels but the trend is our friend here. Ashley indeed. We will take it. Whatever American Airlines . What have you got on that airline . Lauren well, yeah, they said last month they need to cut about 5,000 employees just to match demand to their work force. As a result, they are offering pretty generous voluntary buyout packages and severance packages to high level executives, some include nine months of pay, two years of health care. The deadline to raise your hand and take one of these buyouts is wednesday. After that, american will have to go towards involuntary buyouts and layoffs. Ashley all right. Lauren, thank you very much. Lets move on, if we can. Hotels. Susan, you have more positive numbers on Hotel Bookings . Susan so as we are taking more flights we are also booking into hotels a little bit more. According to the Hospitality Research group str, looks like Hotel Occupancy now back up to 40 with top cities like new york city and atlanta getting above that 40 mark. However, typically, popular destinations like oahu island in hawaii and orlando, reporting low occupancy levels but still, during the depths of the covid19 outbreak we were at 10 to 15 . 40 looks pretty good in comparison. Ashley its all relative, as they say. What about airbnb . They making any comeback . Susan yes, they are. So they were supposed to have a big ipo at the end of march, having to shelve that. However, they have bookings surging in the summer months. They say mostly u. S. Domestic locations, Big Bear Lake in california, smoky mountains, tennessee and the border and port arkansas in texas. Isnt that interesting. Now, they are saying forget about taking a flight. People want domestic, very short trips and they are usually spontaneous trips that they just say okay, lets just book it up for the weekend. In fact, they say that bookings, more nights are booked for u. S. Listings between may 17th and june 3rd than the same period last year in 2019. So domestic is the way to go. Not only here in the u. S. But also germany, portugal, south korea, new zealand and a lot more. Ashley you just want to get away where theres no people, apparently. It kind of makes sense. Restaurant book inings up as we. Lauren the news got better, open table says as of saturday they saw bookings decrease by 73. 9 . Yeah, i know thats bad, but if you compare it to a month prior, may 6, bookings were down 98. 2 . So moving in the right direction. Were trying to find a ray of hope. People are going out again. Ashley yes. They are. Maybe they want to eat doughnuts. Dunkin apparently going on a hiring spree, right . Lauren love this story. Dunkin donuts is adding 25,000 workers. You have to remember, half of Dunkin Donuts are in the northeast which has been the slowest of the states to recover and reopen from the pandemic. So the fact dunkin is so bullish with this hiring spree is great news. In fact, key Bank Analysts upgraded the stock today, saying investors seem too caught up in the negative when it comes to Dunkin Donuts, that they are making their way back. Sales have improved and now they are hiring 25,000 workers. Ashley good story. We havent talked about apple much. We talk about apple a lot on this show. Susan, they say susan not enough. Ashley more people are getting out of the house. Susan thats right. Apple maps showing an uptrend when it comes to people searching on apple maps. That shows that people are getting out of the house more as more states and cities start to reopen. If you judge by, bring up the graphic, it looks like directions for driving and walking, the requests have been up so far, still 50 down from say a year ago, but still, it was down 100 . So the trend is up, as they say. The trend is lagging a bit, people are not that eager to get on obviously very full trains and standing next to people just yet. Ashley no. Which brings me to the next question. Whats this about socially distant selfies . Susan we can do those in the future. Apple has filed for a software pate patent. Heres how it works here. Now we are not sure if its going to be available for the ipad, iphone or both. This is according to a blog, tech blog called protocol. It includes photos, stored video images or livestreaming images and will be part of the group image that will be i guess generated by artificial intelligence. You can modify it, they say, on your phone. Isnt that interesting. You have to accept decline but this was something that apple first filed for a patent for in 2018 so it was before the covid19 outbreak. Still, it was granted in june so just a few days ago. It comes in handy at this time. Ashley fascinating. The timing. All right, susan, thank you very much. Lets get back to the reopening, if we can. New york city, they are starting to ease some restrictions today. Lets bring back in kristina partsinevelos. Kristina, its not going quick enough for some Business Owners, though, right . Kristina unfortunately not. Because they have had to wait quite a long time to reopen and i wanted to try to find some shops that were open for you. We have been driving around and we have had no luck. Everything is still boarded up. Im in midtown right now and i would like to point out some stores have even taken it upon themselves to start painting the wooden or the plywood on their stores like sephora behind me to make it more aesthetically pleasing so it doesnt look like they will take these boards down any time soon, despite the fact that phase one has started. There is reopening here in new york. That means retailers, construction sites, Agriculture Companies as well as manufacturers can start opening their doors. Retailers can only do Curbside Pickup and instore purchases but a lot of people in new york city are waiting because they are a little concerned people arent willing to go shopping just yet. We are seeing traffic in the street. I spoke to one Small Business owner who has a custom clothing business and she said that prior to the lockdown, business is booming but then the moment the lockdown hit and the protests, everything tapered off, so shes concerned about the future of her business, especially if people dont go shopping. Listen in. Its been frustrating. Its been frustrating. I found myself just constantly thinking about it and for business being not good, when you know, Business Owner constantly finds herself checking out the news of the time or just thinking whats the longterm effect of this. Kristina the longterm effect. We are going to wait that out because phase two doesnt happen for another two weeks and could actually be a little bit longer according to the mayor. That means the waiting game for businesses across america, more specifically here in new york city, will have to continue. Back to you. Ashley goes on and on. Thank you very much. Appreciate that. Lets take a live look at the white house. In just a few hours, President Trump will hold a roundtable event with Law Enforcement officials. That event will be closed to the press. That meeting comes as businesses around the country clean up after riots. Bobby vans was vandalized and looted in d. C. As it was gearing up to reopen. The owner says it could cost him a Million Dollars in lost revenue. He joins us coming up. Peaceful protesters from coast to coast calling on leaders to commit to positive change. Our next guest says its time for Financial Institutions to step up support for diversity and inclusion. More after this. In my line of work, i come face to face with a lot of behinds. So i know theres a big need for gasx maximum strength. It works fast. Relieving pressure, bloating, and discomfort before you know it. So no one needs to know youve got gas. Gasx so no one needs to know youve got gas. At mercedesbenz, nothing service will do. Class thats why were expanding your range of choices. Many dealers now offer optional pickup delivery and athome maintenance, as well as Online Shopping with Home Delivery and special finance arrangements. So, whether you visit your local dealer or prefer the comfort of home you can count on the very highest level of service. Get 0 apr financing up to 36 months on most models, and 90day firstpayment deferral on any model. Some we the National Football league admit we were wrong for not listening to nfl players earlier and encourage all to speak out and peacefully protest. Ashley nfl commissioner Roger Goodell admitting that yes, the league fumbled on their response to those kneeling protests. Lauren, how does the president react to that . Lauren what a sea change by the nfl. The president tweeting this. Could it be even remotely possible that in Roger Goodells rather interesting statement of peace and reconciliation he was intimating that it would now be okay for the players to kneel or not to stand for the national anthem, thereby disrespecting our country and our flag. So will the players kneel, how will the nfl support them and how will fans react and viewers, more importantly, because when this all started in 2016 we started to see ratings go down. Last year, less kneeling and ratings went up. Well see what happens when football can start again. Ashley lauren, thank you very much. I want to get back to the protests still happening around the country. Our next guest has an oped in the wall street journal all about how big finance can help us heal. Lets bring in rodney e. Hood, National Credit Union Administration chairperson. Rodney, thanks for joining us. Make your case. Lets begin there. What do you mean and how can Financial Institutions help . First, thank you for having me this morning. I believe that Financial Inclusion is the civil rights issue of our generation. Thats why im calling on Credit Unions and Financial Institutions to make credit more available, to provide opportunities from folks from underserved and marginalized backgrounds to have Economic Opportunities so they can participate in shared prosperity. Thats why i as the chairman am implementing Financial Inclusion policies such as helping our minority depository institutions have the strength and mentoring and opportunities they need to serve their members. Also working Employment Opportunities around Financial Inclusion, helping implement a Second Chance initiative where folks who have thpaid their deb to society, who have been nonviolent criminal offenders, have paid their debt to society, have opportunities to work at Credit Unions and small dollar lending. More than 40 of the population precovid could not come up with 400 for an emergency. Im working with Credit Unions to provide alternatives to payday lending so that can be used as a Building Block to greater financial opportunity. Ashley you know, the protesters are saying that systemic racism is just running rampant through our country. Do you agree with that and have you seen that in your industry . Well, i think that racism does need to be addressed headon and i think that one way we can do that is by doing as much as we can with financial empowerment. Again, taking out our products and tools to communities of color that have been marginalized and who have been vulnerable and who have the no be not been able to participate in shared prosperity. Thats why Credit Unions which grew in the wake of the great depression, they came as a result of folks not being able to have access to traditional financial services. Thats why im calling on them now and im giving them the regulatory flexibility empowerment to do just that, to bring others into the economic mainstream. Ashley youre saying these the africanamerican communities as it stands are being very underserved when it comes to having access to those financial tools. Yes. Im saying africanamerican communities, hispanic communities, communities that traditionally have not been at the forefront of the economic mainstream, we are wanting to make products more widely available. We are also wanting to provide tools such as financial counseling and financial coaching, providing them with the Building Blocks that they need so they can have prosperity not just for today but for the next generation, and thats something im working on diligently as chairman of the National Credit Union Administration. Ashley have you already kind of brought this up with your colleagues and others in the industry . What kind of reception have you received . Yes, actually i have mentioned it. Its been one of my major activities since i assumed the chairmanship last april. I mentioned it in all of my credit Union Addresses and its been well received but whats most important is the fact that i was able to share this with my fellow colleagues, fellow regulators, many of whom you have worked with from the fdic, occ, Federal Reserve and cfpb. We jointly issued a Statement Last friday letting america know that racism should not be tolerated and that we want to ensure that our regulated institutions are making credit available and making Economic Opportunity widely acceptable to those who need it most. Ashley very good. We have to leave it right there. Rodney hood, thank you so much for joining us today. We appreciate it. Thank you for having me. Ashley all right. Thank you very much. Rodney hood. Quick check of some commodities. Gold, gold is definitely making some gains today after losing last week, up 13 bucks today. Close to 1700 per troy ounce for gold. Take a look at silver. We dont do silver very often but why not. Its a commodity and its up 1. 33 at 17. 72. The price of gas, its up above the 2 level now, up to 2. 03 National Average for a gallon of regular. I remember when it was down in the 1. 70s. Also, roll out the red carpet, why not. Hollywood, by the way, reopening for business this week with some new rules. Actors can say goodbye to their film set buffet. We will explain about that coming up next. Thats not going to go down well. Moments ago, Top Democrats unveiling a new bill to overhaul Police Practices as the city of minneapolis vows to defund, dismantle their Police Department. Roll tape. Our commitment is to end our citys toxic relationship with the minneapolis Police Department, to end policing as we know it. Ashley well, is that really the answer to fix the citys problems . We will ask a congressional candidate who knows George Floyds family. We will have that next. I am robert strickler. Ive been involved in communications in the media for 45 years. Ive been taking prevagen on a regular basis for at least eight years. For me, the greatest benefit over the years has been that prevagen seems to help me recall things and also think more clearly. And i enthusiastically recommend prevagen. It has helped me an awful lot. Prevagen. Healthier brain. Better life. And people you can rely on. Im a Dell Technologies advisor. Me too. Me too. Me too. And if youre a Small Business, were with you. We are with you. Were with you. We want to help. So well be right here. At home. Answering your calls. Providing support. And standing by you every step of the way. Bye bye. Ashley all right. The rally picking up on this monday morning. Take a look at the markets. The dow up 289 points. Good for another 1 gain. The s p, up half a percent now and the nasdaq continues to go upwards into record territory. 9845 on the nasdaq. What about google . Starting this week, you can pull up google, google google, google maps, to find Virus Testing Centers Across the country. It will also help you avoid places that might be too crowded for social distancing. Interesting, isnt it. That stock up marginally, 17 cents. Now just down. 1439 on alphabet google. Now to politics. Lets i would like to bring in the man who is running against congresswoman Maxine Waters for her seat in california. Lets bring in joe collins. Joe, a republican running for a democrats seat is always an uphill battle in california, but there is maybe, maybe some hope after mike garcias win. Has that given you hope . Well, you know, mike garcia is an incredible hes an incredible man. I served with him in the United States navy and his win does give me hope but at the same time, we cannot ignore the fact that myself and a lot of other conservative candidates are working very hard in our communities to gain the respect and the trust from the constituents that live in our communities, especially when you talk about a happily democratic district like mikes and myself. Ashley yeah. You know, i will get your thoughts on this, theres another deplorables moment from Hillary Clinton calling out Trump Supporters. Heres what she said. She said it is a mystery why anybody with a beating heart and a working mind still supports him. Joe, i ask this question of someone else today but will shaming Trump Supporters work . You know, i dont think so. I think we are past the whole shaming Trump Supporters era. I think its played out. I honestly didnt even know mrs. Clinton was still relevant. I think she has more things to worry about with her upcoming hearing in the house than trying to shame Trump Supporters. Ashley so as you go after Maxine Waters who has become an institution of sorts in congress, what is your main selling point . Why should people vote for you rather than max jaine waters . Whats your main point . Well, we have been able to work very hard and be very visible within our district. When it comes to running against someone like Maxine Waters, its very important to know that one, i am from the district born and raised and Maxine Waters was representative when i was a child, and two, moving back to South Los Angeles after serving 13 and a half years in the u. S. Navy, seeing things that, you know, are still the same or considerably worse when it comes to homelessness and the lack of quality education and jobs, my message to the people in our district is you know what, its time for something better. Its time for a better representative. I think we are at a point in South Los Angeles and california as a whole to where we need to stop voting along party lines and start voting for quality people who have a vested interest in seeing our communities thrive and seeing california move forward in a manner that is beneficial for everyone. Ashley very well said. I also want to mention, you visited minneapolis as the protests were happening. You also know the floyd family personally. I want to get your reaction to how those protesters reacted when their mayor said he did not want to defund the police. Listen. [ inaudible ] minneapolis Police Department. [ chanting ] ashley you can probably hear all the shouting and noise. Joe, these protesters want to completely defund the Police Department. What are your thoughts on that . Well, you know, i was able to go to minneapolis and we were able to speak with the families of not only mr. Floyd but the families of other victims of Police Brutality and emotions there right now are very high. Personally, i dont think that defunding the Police Department is a wise idea. What i think needs to happen in minneapolis is that the leadership on the local, state and federal level needs to be more visible. They need to come out, they have to grieve with the family, they have to understand what these families are going through. Also, they need an oversight review board to look into the laws that minneapolis have on the local level that could possibly be used to target people in inner cities, minorities and latinos but on another note, i think that across the board in the United States, we need to get our Police Community involved with the local community. I think we need more interaction between our police force and our community so we can gain some type of trust on both ends of the spectrum. I think Community Policing would definitely help every Single Community regardless if its a black, latino or white or Asian Community throughout the United States. Ashley all right. Very good. Joe collins, congressional candidate for californias 43rd district. Joe, thank you so much. Appreciate your time. Thank you. God bless. Ashley thank you. All right. Shifting gears now, North Carolina governor roy cooper vetoed a bill allowing bars to reopen in North Carolina. Lets bring in dale falwell, North Carolina state treasurer. Dale, is this necessary or is the governor dragging his feet . What are your thoughts . Well, my thoughts are is that we try to reopen North Carolina that theres been a lot of focus on flattening the health care curve. We need to reemphasize trying to flatten the economic curve because of this lockdown. When people have been locked down for so long, that means theyre not mobile. When theyre not mobile, they cant consume. When they cant consume, they cant have the joy of achievement or upward mobility in their life. Its a very important issue and when you are dealing with Something Like this, especially when many of these bar and Restaurant Owners and gyms were told back in april that when we go into phase two, this is what needs to happen, they spent hundreds, millions, tens of millions of dollars upfitting and changing their businesses to be prepared for phase two, then when phase two came around, its just an important reminder to us that this cannot be done in secret. It has to be transparent. It cant be inconsistent, because people, your viewers really dont care what Political Party a person is a member of. They just want their problems solved. Their problem today is food and job insecurity. Ashley very quickly, we are running out of time and i apologize, the rnc convention, any chance of getting that back, or has the state blown it . Well, i hope so. I was in favor when the Democratic Convention was here. I would be in favor of the Republican Convention being here. Its not just about lodging and food and beverage. Its about the people who work in that industry, and we hope that North Carolina is the place where any president ial nominee would choose to receive their nomination and charlotte has done it before, and they can do it again. Ashley all right. Im sorry its so short but you made your point very well. Dale falwell, North Carolina state treasurer, thank you so much for taking the time. We appreciate it. At least 65 colleges are planning for online only classes this year. Coming up, we will be speaking to someone who says students may want to consider sitting the next semester out. And the virus closed this d. C. Restaurant for weeks, then looters broke in and now it cant reopen for at least another month. It doesnt get worse than that. Will the business be able to survive . I will ask the owner next. Want to brain better . 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Ashley all right. A rally on wall street. Were up 250 points, just coming off a little bit of the earlier highs. The dow up 250, the s p and nasdaq also up nicely. Well, okay, the nasdaq up about. 2 . Regardless, good start to the week. It hasnt escaped the knowledge of President Trump who tweeted on the market today, saying this. Big day for stock market, smart money and the world know that we are heading in the right direction. Jobs coming back fast. Next year will be our greatest ever. All right. There you go. The president bullish. Susan, also hollywood is coming back. Susan june 12th, thats right, just in a few days after being shuttered since early march because of the covid19 outbreak. The Film Industry has lost around 10 billion because of a lot of backlog when it comes to the productions being shut and people being furloughed because the productions couldnt be filmed. As part of this, obviously there are safety precautions that have to be taken in order for Film Productions and even Tv Productions to restart so that includes ppe for actors and makeup artists, elimination of buffet style meals and catering, virtual casting, this is interesting. In the future, maybe love scenes will have to be rewritten or cgied instead and furniture cleaning, props have to be cleaned and people have to be tested on a daily basis, whether its cast, but isnt it interesting, cgi will do the magic of romance now . Ashley how romantic can cgi be . The biggest story is the buffet is out the window which im sure is not good news for many of the actors. Thank you, susan. Our next guest came to america with 50 bucks in his pocket, opened 12 restaurants, making 100 million a year. Not bad, eh. But the virus forced him to shut down, then his place in washington, d. C. Was vandalized during the riots. Lets bring in restaurateur joseph smith. Joseph, tell me about the d. C. Location. Pretty devastated, i can imagine. We actually have two in d. C. And they were both windows broken and both looted. What they didnt take, they vandalized. So thats going to set us back anywhere from four to six weeks to get open. We were open for two nights. We were allowed to put 40 people at one location and 50 at another on sidewalk, and those seats went in about a half hour. They were sold out. So the people were wanting to come back but the demonstrations took care of that. Ashley were you targeted . I mean, why your place in particular . Was it just on the street and was nearby . Well, we had two good locations. We are 15th street two blocks away from the white house. On sunday night when the demonstrations were going crazy, the police were sort of herding the people back into 15th street and 16th street, so when they got to 15th street, they set upon torching the tmobile store, then they got to me and then across the street, they got to the Sofitel Hotel where they proceeded to burn all their Outdoor Furniture and large umbrellas and the flames i hear were going three floors up while there was people still in them. Ashley what about your employees . How many do you have and what does this mean for them . They were just starting to get back to work and now how are they going to be out again for four, six weeks, i think you said . We have a total of close to 400 people that have been furloughed, about 120 down in washington, d. C. , and they just start getting back, they were excited, they wanted to come to work, they wanted to get out, and now they are back to square one. Theres no work for them. We have a cleanup crew in there for the last week and we have been cleaning up and we are waiting on the adjuster to come from the Insurance Company to say okay, you can go ahead and start rebuilding. But thats what were going to have to do. Ashley yeah. Well, so sorry you had to go through that, just as you were just so excited to get back reopened and we wish you the very best of luck for the future. Thanks for joining us today to tell your story. Thank you, ashley. Ashley thank you. Lets check uber, if we can. Lauren, they are waiving delivery fees for blackowned businesses, is that right . Lauren thats true. Next time you open uber eats, you open the app, you so a prompt, you can then support blackowned businesses and those orders will not be charged delivery fees. They are doing this from now through the end of the year. Not the only ones supporting blackowned businesses. Yelp has a tool, they will be developing this now or in the next week or so, where its easier to locate a blackowned business, then you have blackowned businesses have the opportunity for the first time to identify themselves as such and you can show your support in that way. Yelp stock up a little today, uber down. Ashley thank you very much. As dozens of colleges turn to online classes, our next guest says skip the fall semester and learn to code instead. He says you could be jobready in a matter of months. How does that sound . More on that after the break. Limu emu doug and now for their service to the community, we present limu emu doug with this key to the city. [ applause ] its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. And now we need to get back to work. [ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Ashley all right. Lets take a look at boeing. An analyst at Seaport Global says the worst is already priced in and this stock has been on a tear. Boeing up 23 bucks at 228. Good for another close to 11. 5 gain today, getting a nice big boost to the dow overall. Lets check the cruise lines as well. They are up as reopening optimism hits the tourism industry. Much greatly appreciated by all of the cruise lines. They have been so hardhit. Royal caribbean, norwegian cruise lines, carnival all up now considerably. Look at carnival, up 11 again today. The pandemic, by the way, as we know is forcing colleges and universities to switch to online learning. 65 colleges say they will have online classes for the fall semester. Lets bring in ryan carson, ceo of treehouse. Ryan, you think students should sit next semester out. Why would they do that . Explain. Good morning. Students should absolutely defer and not attend college this fall and heres why. Teaching effectively online and teaching inperson are completely different skills. Universities are panicking and trying to cull together an online offering for students this fall. Its just not worth tens of thousands of dollars in tuition and student debt. Ashley so explain what treehouse is, what you do and why is it a good option . So what we have learned at treehouse over the last decade teaching 650,000 students how to code, 100 online, is this. Teaching effectively online and in person are completely different and effective online classes must use whats called a flip classroom model based on competency based learning. Heres what that is. Number one, teachers need to design their curriculum to be taught in a series of five to ten minute videos. Number two, teachers need to add assessments in between each video to keep students leaning forward, paying attention, and number three, they need to add five to ten realworld projects which are graded with feedback and can be resubmitted until students pass and finally, teachers need to create a chatroom for students. We use slack, to help each other ask questions, support each other and get answers. Its just not effective for teachers to take their inperson curriculum, try to put it on power point and do it over zoom. Ashley so the key question is, we know college is expensive, students get caught up in debt. How much does it cost to take this class and how much to get certified as a coder . So just want to give you two numbers. So one year of tuition for your instate university, my alma mater, is 14,280. At stanford its 52,000. So if you contrast that with high quality online schools, its less than 2,000. So you are going to pay 700 more. Ashley wow. So 700, i could take the course to the point where i could complete it with a coding certificate, i guess, and then be employable . Yeah. Its about 2,000 versus 14,000 so you are paying 700 more. You end up with a jobready skill with a real job in demand. Ashley ryan, we have to leave it there but great stuff. Ryan carson, treehouse ceo, thank you so much. More varney after this. And because we dont know exactly when this crisis is going to be over and we dont know exactly when the stock market will reach its bottom, weve got to be prepared for this to last a long time. If you assume that youre out of work for nine months but you end up only being out of work for. How they gonna pay for this . They will, but with accident forgiveness allstate wont raise your rates just because of an accident. Cut is that good . No you were talking about allstate and. I just. When i. Accident forgiveness from allstate. Click or call for a quote today. Ashley take a look at markets. Belief in economic recovery. Airlines run down during the pandemic. The Airlines Green across the screen. Look at this, united, jetblue, american all up nicely. The united up 8 to 46 bucks. The cruise lines another segment that has been so hard hit. Now the cruise lines say theyre getting bookings. Look at the stock. Norwegian up 11 . Carnival over all, the dow is up 246. The nasdaq continues to push record territory. I would say that my job is done. I done everything i can. I lifted it this far. I will pass it on to neil cavuto. Neil, take it away. Neil no pressure there, ashley. Thank you very much, my friend. Were following up pretty much the same thing you are. It is relief that were reopening in this country, front and center. Seven states are in additional faces of reopening. The big one everyone is really looking at is new york city where phase one of a reopening is finishing with Curbside Pickup and dropoff, retail related items here. Governor cuomo continued improvement, positive case environment. And youre looking at avenue of the americas where things could start getting busy or say busier. Already a few more vehicles than i normally