Transcripts For FBC Mornings With Maria Bartiromo 20240712

Order today overhauling policing in america. Coming up at 8 00 a. M. Eastern, former Senior Adviser to president obama valley Valerie Jared is here and joe biden narrows down his pick for Vice President. Concerns over coronavirus spiking, cases in the United States surpassing 2. 1 million. Now more than 116,000 people have died and the death toll is expected to top 200,000 by october. At 8 30 a. M. Eastern this morning we will get another look the impact is having on economy for the month of may. We will get the numbers to you as soon as they hit the tape and check out the markets impact. Growing tensions between north and south korea, north korea blowing up an interkorea Liaison Office near the border. Mornings with maria is live right now. Maria and stimulus from the Federal Reserve sparking a rally across the globe this morning. European indices high err cross the board. The cac quarante in paris is up 104. In asia overnight markets soared on the hails of comeback and the bank of japan taking action increasing lending to cash strapped businesses from 700 million to 1 trillion in japan. Nikkei average up almost 5 on the news overnight. Some of the stop stories that we are watching overnight. President trump expected to sign executive order on Police Reform today as calls for change grow face wide. It would promote a Community Base policing strategy focused on officer behavior use of force and information sharing about bad cops in an effort to rebuild trust. We have mostly great people, i know so many of them, Law Enforcement, but we will do better, even better and we will try to do it fast. Its about low and order but its about justice also and its about safety. Maria executive order includes creating credentialing and prioritizing services. We will explain this morning. House democrats start mark up their justice in police act today with a floor vote expected next thursday. Senator tim scott who has led effort on gops plan is expected to unveil the proposal this week as well. The nypd says that there was no criminality by shake shack employees after 3 officers got sick drinking milkshakes. Detectives looking whether the officers got sickened by uncleaned machine. The officers discovered toxic substance believed to be bleach. Our team is working hard to get the full picture. All officers are okay from shake shack. President trump slamming seattle leaders from failing to break up unoccupied zone meanwhile. These people are taken over vast part, major part, very good part of a Police Called seattle. Seattle is big stuff. Thats a major city. A governor who doesnt do a damn thing about it and a mayor that doesnt know shes alive. If they dont do the jobly do the job and ive already spoken to the attorney general about it. The capitol hill protest in second week. Seattles police chief says despite claims the area is cop free, officers will respond if theres a threat to safety. And landmark decision for lgbt workers, the Supreme Court ruling a key part of the 1964 Civil Rights Act protect gay and transgender workers in the workplace, chief Justice John Roberts joining liberals on high court of ruling which comes after legalizing samesex marriage. Green light from the government on 5g, the American Companies and hauwei can design technical specification for next generation wireless technology. The Trump Administration put hauwei on a blacklist last year restricting u. S. Companies from doing business with Chinese Companies claiming that it is used to spy for the communist party. Dow futures this morning pointing up, take a look, tripledigit move on reported 1 trilliondollar infrastructure proposal and positive news from the Federal Reserve. The central bank announcing yesterday they would be buying Corporate Bonds and extending loans to small and midsize nonprofit organizations with endowments of 3 billion or less as Federal Reserve chairman powell before Senate Lawmakers today. Joining us phil orlando with us along with fox business Dagen Mcdowell, Senior Writer at wall street journal Jon Hilsenrath and campus reform. Org caleb philips, thank you for being here. Let me kick it off with you phil, your reaction to what took place yesterday and the moves today, is this a short squeeze or a fundamental comeback here for this market . Phil i think a combination of the two. The s p 500 down 8 over last weekover so with weakness yesterday morning and then in the last 24 hours youve had 3 significant fundamental developments, number 1 this morning, yesterday morning the index went negative 78 in april to break even in june and in the middle of the day powell announces the fed will buy Corporate Bonds and in this morning trumps trillion dollar infrastructure announcement. We were expecting that next month as part of proposed phase 5 so we are getting, you know, 3 or 4 weeks earlier than we thought. All of those things suggest that the correction is done and we will start to grind up again. Maria all right, so you have been pretty bullish throughout all of this. You do expect longterm. This market youre estimating contraction of 28 for the Second Quarter of 2020, consensus is all the way up at 32 , how damaging is that longterm, phil, because i know in the Third Quarter youre expecting growth and better than consensus and 11 growth higher than consensus, what contraction youre looking for in quarter we are currently in, 38 or so . Phil we flip the off switch in the u. S. Economy in the middle of march as means of saving lives, so you had a negative 5 in the First Quarter with the economies shut for 2 weeks. In the Second Quarter we had the economy shut for almost 2 months so that number will be historic but we have now flipped the onswitch again. People will be going back to work and you see the empire number i just referenced. The movement from april to june, every data point we look at is showing the same kind of recovery. We are comfortable that the recession will be contained in the first half and we are looking for strong rebound starting in the Third Quarter that we think will continue in calendar 21. Maria Jon Hilsenrath. Jon phil, i i want to send that question about what kind of rebound we are going to get. As you said, we have really sharp declines in the Second Quarter and we are going get some balance. Oneone of the things im tryingo understand is how do you know what kind of rebound this represents . If we get a snapback, how confident can we be that this is a vlike recovery that brings us back to right where we are and isnt necessarily a shortterm bounds that just doesnt have a lot of followthrough to it. Our case is not v bottom recovery but ubottom recovery and we are at the bottom in april we think and starting to look higher. As we look across the horizon, we are looking for a return to record economic record corporate Earnings Growth but thats probably not going to be until late 21 or early 22. What we are seeing right now is just the recovery. The triage is behind us. We stopped the bleeding, thats good. We are now starting to recover and in the second half of the year we think we start to grow, so we were at, you know, 3200 or so, 3400 before, you know, everything started to collapse back in february. We think we will get there looking out over the course of 6 to 12 months but its not going to happen tomorrow, jon. Maria Dagen Mcdowell. Dagen one thing we are missing here phil, we are talking about the recovery and the surge in asset prices as if its happening organically, its not, its because of the Federal Reserve intervention, massive and unprecedented and particularly with the announcement that the fed, details on its move to deploy what a quarter of a trillion dollars to buy Corporate Bonds. The fed is creating vast distortions in the market and is literally propping up what the wall street journal editorial page is calling Zombie Companies and the fed will be there forever in order to make sense of the skyrocketing stock and debt prices. Phil i will take that one step forward. I dont think its just the extraordinary policy response from the Federal Reserve. I think washington, the administration and congress have set their end of the bargain as well. Weve already got 4 phases. Phase 5 we think is going come somewhere in the middle of july and thats another trillion dollars and theres been enormously policy response from the fed and washington in order to get the economy right back on track. Theyve quite literally ripped the page out of bernankes playbook. There was no way they were going to stand on the sidelines and watch destroy the american economy. Dagen people dont know understand the risks they are taking. Phil the greatest risks is the risk of second infections this year. Thats why the social policy, the progress that the medical community in terms of development of testing and antiviral drugs and potentially vaccines are so important because we have to have some confidence that if we exit this recession over the next couple of months as we think likely, do we run the risk of going back in a recession with this dreaded second wave later in the year so thats clearly is a risk and watching it closely. Maria so real quick as you go, do you want to allocate money then to health care as those companies are searching for vaccines and treatments or technology, these two areas were where the highs were and certainly big gains or do you want to look for undervalue, real quick, phil . Phil the large cap stocks, now this is starting to now we are looking at lagered and the economic that have not performed as well. Maria all right, we will keep watching. Phil, great to talk with you, thank you so much. Phil orlando joining us there. We have a big show coming up. In the next hour we will speak with former White House Acting chief of staff, Mick Mulvaney, what is all the stimulus going to mean for debt, deficits to help quick start the economy and then at 7 00 a. M. , 8 00 a. M. Hour first on fox Business Interview with former Senior Adviser to president obama, Valerie Jared, the short list of presumptive candidate joe biden, Vice President and a lot more. Valerie jared coming up. Dont miss it. Big couple of hours coming up right after this. Maria welcome back, changing police practices, President Trump is set to sign executive order today on Police Reform. It is expected to create a Police Database to keep track officers with multiple misconduct violations as well as provide resources for dealing with issues like homelessness and mental health. The president speaking out yesterday at the white house. We will be talking about things that weve been watching and seeing for the last month and we are going to have some solutions. I think some Good Solutions and some of it as you know is great people. We need great people in our Police Departments and we have mostly great people i would say that. I would say that with certainty we have mostly great people. I know so many of them, Law Enforcement, but we we will do better even better and we are going to try to do it fast. Maria joining me right now Nassau County new York Police Commissioner patrick, commissioner, thank you very much for being here, we appreciate getting your thoughts in all of this, first reaction to the president and executive order that he will be signing today which would include a database of infractions of officers . Well, good morning, maria, thank you for having me. When you look at what the president is going to sign about the database and and how we track things, a lot of Law Enforcement agencies already do that. We do that here in Nassau County, its part of our blue team system, automatic report comes in, once the report comes in, it then generates flagging system, if i have two or three complaints about a certain officer, the officer gets called in and reinterviewed so tracking the incidents is good, it helps us as management to make sure that we keep our officers on track and we dont start to see those go outside the lines of where they should be, so that change is not a bad thing, we already do it in Nassau County and i know the city of new york does it also, some of the changes are good for other departments around the country. Maria yeah, because thats not a national thing, the officer who had his knee on George Floyds neck and and now hes dead, he had 17 infractions, that officer, so its not a national policy, right, youre doing in nassau and you say theyre doing in new york but not all over the country . Thats correct, so many agencies may be behind the 8 ball and need to catch up with it but just so you know and you heard the president we are not all bad, its 99. 9 of us are not bad. What happened to george floyd is horrific. Maria yeah, which is why we also want to talk about concerns for Police Safety as well. 3nypd officers were hospitalized yesterday. They drank shake shack milkshakes and possibly contaminated. They had bleach in them we understand. The nypd says this morning there was no criminality by shake shack employees, they were looking into whether or not it was an accident. Whats your reaction to what took place . The antipolice sentiment thats out there in this country has got to stop. We are not the bad guys, we are the law and order people. We have bad officers, we have those that make mistakes and we have to take a look at that and we have to reevaluate and look at ourselves, reform is coming. We know that. Weve been seeing reform all year when it started with justice reform, but what we have to do is make sure that one we are communicating with the community, we are breaking down those lines that have been put in front of us and stepping over and working together with our community to make sure the reforms are done correctly to protect the right of the officer and protect the right of the community. Maria so what do you need to do to prove that to the country where the tone of the country is just negative around the cops. In minneapolis 7 Police Officers have quit, another 7 in the process of resigning citing lack of support from the department and ongoing protests and you also need to feel that you the support. Patrick, have you heard from officers expressing these kinds of concerns that they are not getting the support of the mayor, of the governor, is this a nationwide problem and how do you prove that yes, 99. 9 of cops are good people . You have the first they keep saying protest, protests, this is not protest, this is a movement. These are young adults that wants changes and its not just against the Police Department, many things that they feel is an injustice to them as the young adults in a movement. Ive walked in many of the marchs, its about 50 makeup of black and white. Maria yeah. Its in the just black lives matter. The officers are all working maria its a really important point. Patrick, thank you, patrick, ryder, we will be right after all these years back. cause youre not like everybody else. Thats why Liberty Mutual customizes your car insurance, so you only pay for what you need. What . Oh, i said. Uh, this is my floor. Nooo only pay for what you need. Liberty. Liberty. Liberty. Liberty. You say that customers maklets talk data. S. Only Xfinity Mobile lets you switch up your wireless data whenever. I accept 5g everybodys talking about it. How do i get it . Everyone gets 5g with our new data options at no extra cost. Thats good. Next item corner offices for everyone. Just have to make more corners in this building. Chad . Your wireless your rules. Only with Xfinity Mobile. Now thats simple easy awesome. Switch and save up to 400 a year on your wireless bill. Plus get 200 off a new Samsung Galaxy s20 ultra. Maria welcome back, European Union antitrust authorities launch two probes into apple over potential violations of competition laws. The probe focus on apple paid service and the app store. If found guilty can be forced to share right now shares are up 1 and a half percent. Getting back in the game, Colin Kaepernick on the sidelines since 2014, scored endorsement from commissioner roger goodell, watch this. Listen, if he wants to resume his career in the nfl, i welcome that support, a club making that decision and encourage him to do that. Maria Jon Hilsenrath, whats your take on this . You are getting the blessing of roger goodell, its a big deal for Colin Kaepernick and certainly the environment that we are in right now . Jon id say a couple of things on a player level i dont know if he can still play. I truly wish him well in terms of getting a job. The broader question is stance on National Anthem and i will repeat what ive said for a while now. A lot of people were offended by his kneeling, we americans, i know as a child say pledge of allegiance to the flag in school every day, we put our hands in our hearts and ends with the words justice for all. I think that if we want to honor the flag, we should honor these ideas of justice for all and give Colin Kaepernick a break for not feeling that the country lived up to that pledge. Maria yeah, you would think that teams would listen and bring him on, what do you think . Jon i dont know if he can play anymore but theres got to be a place and an organization, you know, even if he cant, there ought to be a place and an organization for for him to have a voice or use his skills in some way. I just i dont know what his skills are anymore. This is a fastmoving game and if unfortunately the nfl kind of put him in a position where he was sitting out for 4, 5 years. I dont know what he has still have left in the tanks. I think hes demonstrated that he need to be listened to. Maybe his place is up the field and not on the field at this point. Maria cabid phillips said President Trump will work with athletes taking a knee in an interview yesterday. Carson added that the president will get there when it comes to understanding the motivation behind the movement, your take, cabit . I think mr. Carson brings a good point. I think a lot of americans are coming to the idea that its not attack on the anthem but bringing attention to the issues. I do think a lot of americans like mr. Trump are coming to the idea of the peaceful protest and to go back to the Colin Kaepernick point, though, i dont think that he will end up on team this year, last 3 of 16 games that he started and i dont think that teams will get him in there. Maria we will take a break, on that note, when we come back, tensions on north korea, erupting overnight. Tampa bay buccaneers to release first photos of tom brady in uniform today. We are all eyes, back in a merica and what investors are believing is going on in corporate america. Minute. Effortless is the lincoln way. So as you head back out on the road, well be doing what we do best. Providing some calm in your day. As well as remote purchasing. For a little help, on and off the road. Now when you buy or lease a new lincoln, well make up to 3 payments on your behalf. Maria welcome back, good Tuesday Morning, thank you so much for joining us. Im maria bartiromo, it is tuesday june 16th, your top stories right now 6 30 a. M. On the east coast. Boosting the american economy, Federal Reserve buying individual Corporate Bonds now the white house reportedly working on a 1 trilliondollar infrastructure package all leading to global rally this morning, futures indicating triple digit move right out of the gate this morning. About 2 , nasdaq is up 136 and s p up 44 right now. Stimulus from the Federal Reserve boosting markets oversees as well n europe green across the board. Take a look at ftse 100 up, 2 and a half percent. Cac quarante in paris up 131, 2 and 3 quarters percent and dax index higher by 398, three and a third percent higher there. In asia overnight markets soared as well on news out of bank of japan, taking action increasing lend to go businesses going from 700 billion in stimulus to 1 trillion. Nikkei average in japan up almost 5 , korea, kospi up 5 and a quarter percent. Breaking overnight rising tensions in korean peninsula. South korea blaming the north for blowing up a liaison in north korean town after the north ceased communication. General, always a pleasure to see you, your reaction on what took place blowing up the Liaison Office . Jack clearly whats taking place north korea is doing posture and increasingly the tensions. When we get Something Like this, maria, they are trying to exact some kind of concessions here and the focus is really on south korea but north korea has been frustrated for some time ever since the summit going back last year in 2019, blew up in their faces when they wouldnt put anything of substance on the table to indicate they were sincere about the nuclearization and they wanted sanction relief from us. We were not going to give it, they were not going put anything on the table so President Trump walked out and weve been stalemated ever since. This is a different playbook for the north koreans. They they thought they would use what his grandfather and father had done in the past to get sanction relief from the United States. It has not worked at all, and right now the focus is on getting some relief from south korea. Whats happening in north korea, well, clearly the sanctions are taking its toll, but so is the virus. We dont have any insights into what the details of that but what is instructive is that china has shut down their border with north korea largely because of the virus, so economically im certain with some degree of confidence here that they they are suffering even more possibly than we thought and hes seeking some kind of sanction relief or economic aid from south korea. Maria yeah, i was going to ask you, that was my next question. What is the china connection because remember in the middle of this pandemic a month ago there were report that is nobody knew where kim jong un was and we were looking for him and he was not in in any of the important meetings that he was supposed to be in and then they they start shutting down south korea. Is there any connection with xi jinping and and whats happening in north korea in your view . Jack well, first of all, i mean, china is an ally of north korea and their number one trading partner is china and they are completely dependent on china particularly for economic assistance and and i think as we have reported here, you know, despite the the summits and discussions and sanctions that the un has authorized, 3 different tranches of sanctions. China has always kept the door open to them. They have been providing them economic assistance because they dont want that regime to collapse. North korea is clearly in chinas orbit and they will continue to be. Maria its important to see the connection there. I just wanted to point it out. Breaking news, general, 3 indian soldiers killed in confrontation with chinese troops near the chinaindia border, first violent confrontation between the two countries since 1975. Some people going as far to me saying china invaded india. You have took place now face to face and violence on the border with between china and india. Is china trying to get more territory invading india . Well, theres been history here before of territorial disputes. China is notorious for having border disputes with the countries that are there in the west and the southwest and indication of it, but, you know, something larger that is taken place since the coronavirus took d took took hold and they have become very aggressive and they have stepped up their game in the pacific from japan to malaysia from australia to indicate cay india and pushing back and when china gets pushed they have a tendy to lash tendency of lashing out and supposedly taking place tomorrow in hawaii, its an encouraging sign. Maria right, so what do you expect from secretary of state mike pompeo and will be meeting with chinese officials in hawaii and could come as soon as this week and could come tomorrow. The trip would only last 24 hours, its supposed to be touching on widerange issues and we know theres a lot of issues in terms of chinese behavior, what would be a victory for secretary pompeo and meeting tomorrow . Just having a meeting is a huge step in the right direction. Theres a lot of secrecy surrounding the meeting so theres not even a discussion that theres going to be a meeting but obviously its been leaked to the media and supposedly, we dont know for a fact but supposedly china initiated this which is a good sign. Theres some significant potential here for progress, cooperation on coronavirus certainly and given the problems weve had with china over that and cooperation on north korea and discussions about the pathway forward. Is north korea going to commit to any kind of denuclearization and can china assist with that . This is the most important bilateral relationship the United States has despite the differences that we have which are significant, we have to manage this relationship carefully, our economies are intertwine, china is the most rapid growing military in the world, they have become more aggressive and this administration is pushing back on them in the way that the Previous Administration pretty much gave them a free hand. Maria maybe that hauwei decision was a little bit of an olive branch. I dont know. This administration has been so negative on hauwei and now we see a little opening here for u. S. Companies to do business with hauwei. Jack yeah that was absolutely a surprise for most of us. I know you were surprised by it as well. Maria i was. Jack that will likely be on the table. I mean, they have been furious with us over our shutdown of hauwei and our aggressive stance with our allies particularly in europe to back away from hauweis influence on the 5g development, so thats another major issue certainly for discussion. Maria all right, we will be watching that general, always a pleasure to see you, thanks so much. Jack good talking to you, maria. Maria Harvard University joining hundreds of colleges an universities adjusting testing requirements in light of coronavirus pandemic. Cheryl casone with those details now, cheryl. Cheryl Harvard University says it will not require undergraduate applicants to submit actosat scores next year, High School Students across the country finishing school at home. Some may not be safe for test to go resume this fall. College board which administer it is act dropped plans to offer athome test. Highspeed access and cant be guarantied for all students. Baseball back and forth continues with 2020 season possibly not happening at all now. Mlb commissioner rob manford in an interview with espn says hes less confident baseball will be played this year. Players association said they were done negotiating. The league is negotiating and, quote, disgusted. Finally a look at what the trending this morning on foxbusiness. Com, 14hour fitness files for bankruptcy and closes 130 gyms amid coronavirus pandemic. Davids bridal helps personalize shopping giving them access to special offers and coronavirus. Weight watchers to Record Number of digital subscribers, 4. 9 million, maria, those are your headlines from the news room, back to you. Maria all right, cheryl, thank you, quick break and coming up targeting a treatment, the food and Drug Administration now calling on doctors to stop prescribing hydroxychloroquine for coronavirus. Why they believe its no longer effective, we will get into it and we will speak with Mick Mulvaney on infrastructure plan to stimulate the economy. All that and a lot more, stay with us. Now is the time for a new bath from bath fitter. Every bath fitter bath is installed quickly, safely, and beautifully, with a lifetime warranty. Go from old to new. From worn to wow. The beautiful bath youve always wanted, done right, installed by one expert technician, all in one day. Weve been creating moments like these for 35 years, and were here to help you get started. Book your free virtual or inhome Design Consultation today. Maria welcome back, the foot and Drug Administration making it about face of hydroxychloroquine, fda calling for doctors to stop prescribing hike hydroxychloroquine and risks outweigh any gains. Joining me dr. Andrew bradley. Your reaction to what we are hearing now on hydroxychloroquine from the fda . Good morning, maria, yeah, so the process by which hydroxychloroquine was evaluated was appropriate and thorough. Theres been a large number of studies now. The two settings where its been studied has been high risk of those who have infection and in both settings it appears to have no effect in controlled clinically trials which is the best standard of proof we can get for understanding how drugs work n. The basis of the studies its appropriate to stop studying the drug. Maria well, how serious are the side effects, what about the people who have already taken it . Well, youve taken it and stopped taking it its unlikely that you will have side effects into the future. For those who are taking it, the side effect that is you can get can be serious or life threatening. And so if you havent had that already youre unlikely to, but in the in times moving forward its unlikely its going to be many more prescriptions for it and those that are being prescribed it would be for other noncovid related diseases and your physicians will tell you the appropriate way to monitor for side effects. Maria so what are your thoughts on where we are right now in terms of coronavirus and effort to come up with a vaccine or a treatment, theres also the push for more masks, review of 172 observational studies, on certify observational and highly effective with coronavirus. Businesses begin to reopen and people are walking without masks. Whats your take on wearing the masks and give us your take oncoming up with treatments an vaccines. Sure, a lot of meat on that bone. In terms of a mask, when theres a intervention you have to weigh the benefits versus the risk. The risk of wearing a mask is very, very small, almost negligeable. Its very big, its hard to perform a controlled Clinical Trial because you know if youre wearing it or not and you have to have the placebo but theres reasons that are beneficial. Im in favor of masks and in terms of treatment, i will get in vaccines, we have learned so much about the disease in such a period of time and understanding how the body responds to the virus and what what elements and immune response are helpful and what elements can be harmful, studies that we are beginning to start right now. 1500 Clinical Trials that are registered to study covid and so its very important that we as physicians an we as hospitals are very thoughtful about which of the trials do, weve studied now hydroxychloroquine, its well studied and showing good signals of efficacy, we know that combining therapies is more effective than one alone. We are beginning to see in here combination therapy against covid disease in the setting of a Clinical Trial and im optimistic about that. In addition to which theres newer agents that are being tested that i think are very promising. In terms of a vaccine theres at least 100 different vaccine platforms that are out there and being evaluated. Many of them are in phase 1 which is showing design today show safety and intolerable and those will take a period of many months to show that it can or cannot reduce infection. Until we get that maria we will leave it there. We can look at. Maria thank you. Many elements of the immune response. Maria okay. There are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. You say that customers maklets talk data. S. Only Xfinity Mobile lets you switch up your wireless data whenever. I accept 5g everybodys talking about it. How do i get it . Everyone gets 5g with our new data options at no extra cost. Thats good. Next item corner offices for everyone. Just have to make more corners in this building. Chad . Your wireless your rules. Only with Xfinity Mobile. Now thats simple easy awesome. Switch and save up to 400 a year on your wireless bill. Plus get 200 off a new Samsung Galaxy s20 ultra. Maria welcome back, time for the morning buzz, first up Major League Baseballs 2020 season in jeopardy, commissioner rob manfred telling espn hes not confident citing lack of th, your reaction. Jon you know the blooper films where you see a ball flying in the air and the player is measuring it and measuring it and the ball drops on its head. Thats whats happening to Major League Baseball right now. They are dropping the ball. Its on the players and on the owners, you know, all the other sports, nascar and others are getting up and running and the runners are running around the bases and Major League Baseball has dropped the bad. Too bad, i love the sport. Maria it is too bad. Its not gosports, by the way, theres a delay in Film Industry biggest night being pushed. The last postponement in 1981 after attempted assassination of president ronald reagan. Staying on the award circuit, the bet awards will be on cbs for the first time, canadian rapper drake leading the nominees. Dagen whacker do you think . Dagen Academy Awards should be canceled forever. I will say this over again as nascar fans, baseball isnt a sport, so ridiculous. [laughter] maria seriously, tell us how you really feel . Canceled forever, huh . Dagen yeah. Baseball and Academy Awards. Id be perfectly happy if they both went away. Maria still ahead former acting white house chief of staff is here on trillion dollar proposal. Stay right here. 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Your top stories, 7 00 a. M. On the east coast. The Federal Reserve will be buying individual Corporate Bonds and the white house reportedly is working on a 1 trillion infrastructure package. The news helping fuel markets across the world this morning. Futures indicating a big triple digit move at the start of trading, up almost 500 points on the dow, the dow up almost 2 . The s p 500 right now up 39 points, better than 1 there as well. This on top of a big late day comeback yesterday, following news from the Federal Reserve, the dow industrials going from negative to up 157 points at the close, nasdaq was up 137 points, and the s p 500 up 25 at 4 00 on wall street yesterday. Police reform on the agenda, President Trump calling for change. He is expected to sign an executive order later today, overhauling policing in america. Coming up at 8 00 a. M. Eastern this morning, former Senior Advisor to president obama, Valerie Jarrett will join me, as joe biden narrows in on his pick for Vice President. Concerns over coronavirus is spiking, cases in the United States now surpassing 2. 1 million with more than 116,000 people dead from coronavirus. The death toll is expected to top 200,000 by october. This morning at 8 30 a. M. Eastern we get another look at the impact the virus is having on the economy when we get the may retail Sales Numbers released. We are expecting better numbers this morning. Well get the numbers and show you the impact on markets. Growing tensions between north and south korea, north korea reportedly blowing up and interkorean Liaison Office building near the border. Demand for radiology technicians surging, find out what it takes to get into this expanding area of healthcare. Mornings with maria is live right now. In europe, its green across the board this morning, fq100 up 161 points, the cac in paris is up 127, 2 and two thirds percent, the dax index up with a gain of 336 points right now. Markets soared in asia. The bank of japan taking action, increasing lending to cashstrapped businesses. It went from 700 billion to 1 trillion in stimulus. Joining the conversation, Dagen Mcdowell, Jon Hilsenrath and Cabot Phillips. Great to see everybody this morning. Good to see you. Maria some of the top stories were watching, President Trump is expected to sign an executive order on of Police Reform today as calls for change grow nationwide. It will promote a Community Based policing strategy focused on officer behavior, use of force and information sharing about bad cops in an effort to rebuild trust. We have mostly great people. I know so many of them, Law Enforcement. But we will do better, even better, and were going to try and do it fast. This is about law and order of, its about justice also and its about safety. Maria the executive order includes creating credentialing and certification incentives, improving officer retention and recruitment and also prioritizing correspondent services. House democrats start marking up their justice in policing act today with a floor vote expected on thursday. Senator tim scott is expected to unveil the republican proposal this week as well. The nypd says there was no criminality by shake shack employees after three officers got sick drinking milkshakes. The detectives now looking into whether the officers were accidentally sickened by an improperly cleaned machine. The officers were working protest detail when they discovered a toxic substance believed to be bleach in their beverages. The officers are expected to recover. Shake shack said theyre working hard to get the full picture. President trump is slamming seattle leaders for failing to break up an occupied zone. These people have taken over a vast part of a major part, a very good part of a place called seattle. Seattles big stuff. Thats a major city. We have a governor that doesnt do a damn thing about it and you have a mayor that doesnt know shes alive. If they dont do the job, ill do the job. Ive spoken to the attorney general about it. Maria the occupation of chop, the capitol hill organized protest, is in the second week. Seattles police chief says despite claims the area is copfree, officers will respond if theres a threat to safety. A landmark decision for lgbt workers, the Supreme Court ruling the Civil Rights Act protects gay and transgender workers from the workplace. Two justices joined liberals on the high court on the ruling, five years after the Supreme Court legalized same sex marriage. Apple is facing new scrutiny by the European Union, antitrust regulators opened two investigations into the companys Apple Pay Service and app store. At issue is whether the company violated competition laws. Apple could be fined up to 10 of annual revenue and forced to make changes to how it does business. Apple said theyre disappointed with the decision. The stock is up better than 1 . Markets poised for a rebound this morning, gains prompted by reports that the Trump Administration is planning a 1 trillion infrastructure plan to stimulate the economy amid the coronavirus pandemic, the plan is being prepared by the department of transportation. The president is expected to discuss it on thursday. Joining me right now is former White House Acting chief of staff, Mick Mulvaney. Thanks so much for joining me. Its good to be back. Thank you. Maria how accurate in your view is a stimulus plan, this next stimulus plan, focused on infrastructure or are there other things in the way of relief that you believe are needed right now . Yeah, i think a couple Different Things about that. First of all, infrastructure is a really, really difficult tool to use as stimulus because it takes too long to get the money into the system. Ive had the conversations with folks in the administration. It could take years for money to get to things like roads and bridges and so forth. We learned that during the Obama Administration. Infrastructure sounds great but its a poor shortterm stimulative tool. If were going to look at a larger package, were going to look at a package, and my guess is congress will, thats what congress does, i hope we look at it through the eyes of the economic need and not the political expediency. I hope if Steven Mnuchin and Kevin Hassett go to the president of the United States and say we need these economic policies, these economic stimuli, thats a good reason to move forward. If the political advisors say we need to do this in order to help with the election. You cant buy an election. We should look at this through a disciplined economic approach. Im not convinced we need the economic stimulus. So much of the money weve appropriated has not entered the system yet. And i dont want to see us act too quickly and overstimulate the economy. Maria and so where are the needs, though, right now then, mick . When you look at where youre seeing the most trouble, i mean, youve got Certain Industries like hotels and restaurants needing stimulus badly. They are living on of cash flow and theres none of it during the shutdown. You also have Community Banks, this is where main street america banks, the Community Banks. Theyre talking about needing stimulus. In your view right now, knowing all of the trillions that have already been thrown at this economy, where are the needs today . A lot of the trillions that have been thrown havent hit the economy yet. To your point, i think its real difficult for the government to pick winners and losers when it comes to industries, to of say were going to help hotels but not cruise lines, not airlines, not boeing. Thats difficult to do and would open anybody up to second guessing after the fact, lessons that were learned after the financial crisis of the last decade. Its better to look at the larger market drivers, is capital available, to your point, are Community Banks able to lend money to Small Businesses, are the Capital Markets functioning properly. Are payrolls flowing. I think those are the type of things you should look at as opposed to saying yes to this industry and no to that industry. Any good stimulus package is going to look at the big picture, not try to pick winners and losers. Maria in terms of winners and losers, weve seen certain money going to Certain Industries, the airlines obviously getting a big help from government. There were stakes taken. Payroll tax holiday is something your colleague, former colleague, larry kudlow talked about on sunday. Heres what he said about the next relief package. Listen to this. What are the must haves in the next stimulus package to keep this economy going and growing . President s talked about a payroll tax holiday for the workforce. That will provide a terrific incentive for them to go back to work. I think its a great idea. Hes talked about capital gains. He has indeed talked about as my colleague navarro has said, lets try to help bring American Companies back home from china which has been an unreliable place. We can use tax incentives and other ways and means to help them come home. Maria do you believe those things will be in the next relief package, bringing supply chains incentives to get companies to bring supply chains back to america or out of china at a minimum . Those are the general policies i was talking about a second ago that i think could be helpful, youre not targeting this industry or that, youre sort of trying to change the environment that were in. On a middle class on a payroll tax cut, its a good way to get money to the middle class in a quick fashion which is good. It does undermine the longterm viability of the various trust funds, Social Security and medicare. We have to be careful with that. But you talk about what those be in a must pass. I hope we sit back and realize that i know im going to sound ideological but its important to think about this. Were going to grow government in leaps and bounds, we already have. I hope if we look at a stimulus package Going Forward that we find ways to make sure we can shrink the Government Back down to a normal size when the need has passed. My fear is that all were doing is raising the base and we do the same thing we did in 2008, 2009 is we grew the government and the government never got smaller after that. Are there things to allow us to shrink the government, control growth, control spending. Will there be a way to have Civil Service reform to allow any president of the United States to fire underperforming federal workers, things like that should be included in the stimulus package. Maria thats a good point. So that was my next question. When do the chickens come home to roost . Youre talking about 10 trillion in stimulus. Now we look at the economy and the debt, almost the same size, 22 trillion in debt, rivalling the size of the entire economy. Whats the solution . Will taxes have to go up in the coming years, mick . I mean, is that a certainity . Well, i think as soon as the democrats have the ability to pass legislation, taxes are going to go up. Theyre straightforward about that. This goes back to the debate you and i have talked about before. I love to think that we could cut our way to reduce spending in this country. Weve not been able to do it. The center of graft in congress is always gravity in congress is always to spend more money. You either have to raise revenues, raise taxes or you grow the economy which is what i think we were doing with Great Success before the covid crisis. We were proving that supply side economics works. One of the Great Stories of the administration, 10, 20 years from now would be to look back and realize supply side economics work. We were able to have sustained growth, really low Unemployment Rates with really low inflation. And demand siders will tell you cant could that. We proved that supply side economics works. I hope we get a chance to continue that as we come out the backside of the covid crisis. Maria we will be watching, Mick Mulvaney, good to see you. Thanks so much. Thanks, maria. Maria we will see you soon. Weve got a lot ahead. Coming up next hour, dont miss my interview with former Senior Advisor to president obama and the author of finding my voice, Valerie Jarrett is here, ill ask about her stance on President Trumps executive order on Police Reform, the short list for Presumptive Democratic candidate joe bidens Vice President , thats coming up and a lot more, right here. Stay with us. Im norm. Im szasz. [norm] and we live in columbia, missouri. We do consulting, but we also write. [szasz] we take care of ourselves constantly; its important. We walk three to five times a week, a couple miles at a time. Weve both been taking prevagen for a little more than 11 years now. After about 30 days of taking it, we noticed clarity that we didnt notice before. Its still helping me. I still notice a difference. Prevagen. Healthier brain. Better life. Maria welcome back. New concerns this morning from the trucking industry, many drivers are anxious about traveling through areas that could see disbanded Police Departments, jeff flock is live this morning in lake station, indiana with a new take from truckers. Jeff. Reporter from the website cdllife. Com, that stands for commercial drivers license, cdl life did a poll of its truckers and asked the question, would you deliver or pick up in cities that had disbanded or defunded Police Departments. Of the 1200 or so respondents, 79 said that they would not do so. Among the comments from the truckers, one saying i have already informed my dispatcher that i will refuse all loads to cities that have defunded Police Departments and another saying this is not an area you need to act fearless and think you look like a fool for saying no. Yet another, if something was to happen and you have to to take matters into your own hands, then you could be prosecuted for protecting yourself. I point out to you, maria, according to the bureau of labor statistics, trucking was in 2018 the most deadly profession followed by construction workers, farmers, ranchers and maintenance workers. I will point out that on that cdllife. Com website one africanamerican trucker wrote this, ill quote him. He said we say black lives matter, not only black lives matter, we know all lives matter, we just need your help with black lives matter right now because black lives are in danger. All viewpoints made clear. Maria. Maria jeff, thank you. Jeff flock this morning. Well take a short break. More mornings with maria when we come back. Stay with us. Save hundreds on your wireless bill without even leaving your house. Just keep your phone and switch to Xfinity Mobile. You can get it by ordering a free sim card online. Once you activate, youll only have to pay for the data you need starting at just 15 a month. There are no term contracts, no activation fees, and no credit check on the first two lines. Get a 50 prepaid card when you switch. Its the most reliable wireless network. And it could save you hundreds. Xfinity mobile. Maria welcome back. Lawmakers in washington sending a clear signal to beijing, they will not stand by in the face of chinas human rights abuses, Congress Passing the uyghur human rights policy act, sanctioning chinese officials for forcibly detaining muslims in internment camps. Joining me right now is the chairman of the uyghur human rights project, noori. Your parents were among those in uyghur camps at some point or some in your family. Explain the connection. Thank you very much, maria. Good to be with you. Actually, i was born in the reeducation camp at the height of the cultural revolution. The uyghur suffering has been going on as long as i have been breathing. To the Chinese Government, the uyghur people are different, being different is unacceptable. Therefore, the uyghur people have to go through what they call the transformation process, which is one of the key objectives of the Chinese Government, towards the uyghur people, to go through this human engineering that were seeing in 2020. Maria so explain what has taken place. You say the u. S. Should sanction chinese officials and congress should pass a second bill for anyone involved in this. In other words, there are individuals who want to study their own religion, whether it be muslim, whatever, thats not allowed in china. They lock people up in camps and force them to study chinese culture. What else are they doing to those people, noori . The u. S. Ambassador for International Religious freedom said it best that the Chinese Communist party is on a war unsafe. So any western religion, islamic, christianity, to the chinese cos government has been perceived as a sign of disloyalty. As long as you practice religion, as long as you believe in something not in line with xi jinpings thoughts, theres something called xi jinping thoughts, and as long as you maintain your religious and ethnic background, practices, way of life, like the tibetans and uyghurs, the Chinese Government sees you as a potential threat. The Chinese Government through a legislative process, quote, unquote, much like the one they put in place for hong kong, legitmized its on of press, criminalizing behaviors that are cherished in civilized society, such as wearing head scarfs, adhering to a certain diet and marriage within the ethnic group and those forms of social behavior, cultural aprior united nationappreciationhas been crime communist party, xi jinpings china. Maria we heard stories for example during ramadan officers going over there and forcing them to eat pork. Im talking about serious human rights abuses, slave labor. Are you seeing any of that at these camps . Explain what goes on at those camps, because there are some people out there who refer to them as concentration camps which is obviously an incredibly aggressive way to name these camps. How do you see it . Three things are happening in xi jinpings china. Since late 2016 under the leadership of who used to be the head of the communist party in at this bet, the tibet, the Chinese Government turned an area into an open air prison prisonlike environment. They built a per s pervasive surveillance apparatus, monitoring every aspect of uyghur life. The concentration camps that the Chinese Government built share a lot of commonality with the ones we have seen in history. The Chinese Government through the reeducation camp process, concentration camp, and now the labor camps, poll lieutenanted the glow poluted the Global Supply chain. If you use anything made in china, theres a high likelihood theyre made in the forced labor camps. Its been reported over 80 of the products made in china are sourced in the uyghur region. One quarter of the worlds supply chain made in that part of the world, likely or possibly been produced by forced labor. So slavery is back. Whenever it is mentioned the American People can relate to that history. It is disbushing the chai disturbing the Chinese Government is using the uyghurs. Since covid, they transferred a large number of uyghurs based on the chinese morning post, a large number of uyghurs have been transferred to the Coastal Assembly lines to work and fill up the labor shortage. Maria oh, my goodness. Really tough stories. Real quick, before you go, you said at the top of the interview you were born in the middle of this. How did you get out . My mother was six months pregnant when she was detained for what they call the political history. So we spent i was born in the captivity. My mother was in camp because of the beating and abuses she suffered. And we were released several months after i was born. So i suffered a very extensive medical condition. Thats the different type of camp that we have seen in history, it was mostly focused on ideology. The current camps that the Chinese Government set up in the last three years has a racist purpose and a je genocidal intention. Maria really hard stuff to take. Im sorry that you had to endure all of that. We will watch the progress here. President trump expected to sign that into law, the uyghur bill. Noori. Thank you for your insights this morning and for joining us with all of that. Quick break and then the u. S. Jobs market attempting to recover, were taking a look at how and in terms of radiology, this is emerging as an up and coming industry for american jobs post pandemic, well tell you what training skills are needed. And amazons Ceo Jeff Bezos agreeing to testify on capitol hill ahmed antitrust amid antitrust investigations into Big Technology companies, after this. Stay with us. Yeah yyeah yeah hey, hey yeah 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. Maria welcome back. Good Tuesday Morning of, everybody. Thanks so much for joining us. Im maria bartiromo. It is tuesday, june 16. Your top stories, 7 32 a. M. On the east coast. Boosting the american economy, the Federal Reserve buying individual Corporate Bonds and the white house is reportedly working on a 1 trillion infrastructure package leading to a global rally this morning. Futures indicating a gain of 400 points out of the gate, the dow futures are up 429. The nasdaq is up 108, better than 1 . S p 500 right now up 35 points, also 1. 1 higher there. U. S. Markets staged a late day comeback yesterday as well, following news from the Federal Reserve, some people calling it a short squeeze as well. The dow industrials up yesterday 157 points, the nasdaq was up 137, and the s p was up 25, at 4 00 on wall street yesterday. Stimulus from the u. S. Federal reserve boosting markets oversea as well. European indices are higher across the board with the fq100 up 156, the cac up 122, and the dax in germany up 363 right now. In asia overnight, similar story. The bank of japan comes into play here. The boj also taking action, increasing lending to businesses, they went from 700 billion to 1 trillion in aid from the bank of japan. Jeff bezos set to make his first appearance before congress. Cheryl casone with those details right now. Cheryl its going to be something. Good morning again. According to the new york times, amazon lawyers told lawmakers bezos will testify before the House Judiciary Committee as part of this antitrust investigation into big tech companies. Lawmakers are expected to ask bezos to respond to claims that his company used its power against Small Businesses that sell on its site. Those third party sellers. And he will likely be asked about alleged mistreatment of warehouse workers during the covid19 pandemic. That hearing which could include other big tech ceos expected to take place sometime this summer. Ahead of the opening bell, shares of amazon are up a little more than 1 right now. United airlines rolling out a strict new face mask policy starting this thursday, if youre not wearing a mask youre going to be denied boarding, and placed on an internal travel restriction list. Masks will be given to passengers if they dont have one. Passengers will have to complete a health Self Assessment form. Airlines requiring customers to wear masks on of board since may. Most passengers have complied. Stock up 8 right now. United like other Major Airlines trying to recover from the pandemics affect on air travel. Heres a look at whats trending on foxbusiness. Com. The u. S. Tennis Association Says it intends to hold the u. S. Open in new york starting in august without fans if it gets government support. The broncos sign a deal to become the first nfl team to partner with a sports book. And finally this, burger king launches and impossible sausage breakfast sandwich. If i was with you in the same studio, i would bring you one but aha la alas we are sociay distanced. Maria another impact of the pandemic and shut down. Theres that too, cheryl. Thank you. Cheryl you bet. Maria weve got a market rally this morning, futures indicating a triple digit move out of the gate, dow industrials up 437 points right now on reports that the Trump Administration is considering more stimulus. This time a 1 trillion infrastructure package. Most of the money set aside for traditional projects like roads and bridges, but there could be funds for 5g Wireless Infrastructure and rural broad band as well we understand. Joining me right now over the phone is corner stone macros cofounder and chief economist, nancy la czar. Thank you for lazar. Thank you for joining me. You talk about some of the flattening of the curve and the flattening of the spread. Are you not worried that as the economy reopens then we are or could be seeing spikes in certain corners of the country and these worries of a second wave of this disease, nancy . Well, theres no question you need to be worried about it but i still think youre going to get an economic recovery because there has been so much support from the federal government and youre open offing up the economy so im calling it a wavy recovery but i think it is going to be a recovery, nonetheless. And i do think were getting a v rebound in a lot of the Economic Data. Maria we were talking about the Second Quarter and one of our guests was looking for a contraction of 28 in the Second Quarter. How do you see it in terms of growth this year, nancy . Do you think that is going to be the most sizable contraction, Second Quarter, but then we see growth in the second half of the year as the administration seems to believe . I do. I think thats probably going to be the shortest recession on record. I have also gdp down about 25 for the Second Quarter but as you know, the may data have already turned. Were going to get more of that data this morning at 8 30 with retail sales. So, yes, it will be mass of ively negative but thats massively negative but thats old news. Were seeing a v rebound in Economic Data which will slow down as we go into the back half of the year, potentially because of a second wave. But none the less, a recovery and a sustainable recovery here and around the world. Maria what about the Federal Reserve and what were going to hear today and tom o tomorrow fy powell. The central bank set to begin using the new secondary market, Corporate Credit facility, to buy individual Corporate Bonds from eligible issuers, the fed opened the main Street Lending program on of monday, benefiting small and midsize businesses. Do you think the new facilities are going to keep the economy get it as you say growing in the second half . Give us your take on what we might hear from jay powell today. I think its perfectly clear, dont fight the fed. I think its very true. Policy makers around the world are going to make sure or increase the odds that indeed this recovery can continue and the reason that im potentially more confident than some is because ive already seen signs that all this stimulus in which they are doing more and i think that will be the message today, they will do whatever it takes, youre already seeing evidence of the stimulus working. Youve got a very clear rebound in housing. Very strong rebound in housing unfolding. We havent seen that early pickup in housing in 20 years. That is the last expansion housing did not rebound for obvious reasons. You were unwinding a bubble. So housing rebounding early in expansion is a classic sign that policy is working, consumers are confident and obviously investing in a large ticket item. So, yes, policy is already working. Theyre going to continue to do more, not only here but around the world. And thats important that were seeing global stimulus because were not the lone man in the forest. Weve got a lot of support from policymakers around the world increasing the odds that this is a synchronized global recovery, not just a recovery here in the United States. Maria really fascinating stuff that the Federal Reserve is going to be buying bonds from Companies Like microsoft, apple and yet you hear what jay powell said last week that some people will not be able to go back to the jobs that they had, this will be a long recovery. Nancy, what are you telling clients in terms of allocating capital in an environment where there is this kind of uncertainty and a sizable amount of debt once we get out of this. First, i dont mean to downplay at all whats going on with covid. Its a unique crisis to be sure. Coming out of every recession there is always a part of the economy that struggles. We all remember the housing bubble and housing was not a part of the last expansion. If you look historically, manufacturing from 2002 to 2007, during that expansion, manufacturing jobs declined by 2 million. So ill stop. I can go back historically. There is always a head wind coming out of a recession. This is a unique headwind in that it wasnt caused in that you didnt have a particular bubble burring in this bursting in this recession. The leisure industry will be a headwind Going Forward. The last expansion, employment did not hit a new high for four years from its trough. And that was in part because of the headwind from housing. And thats probably going to be the same thing today. Quite frankly, i had foreof gotten that forgotten that employment was so weak for so long in the last expansion. By the back half of the expansion, things were pretty robust. Yes, there will be an adjustment coming out of this crisis. A key is that the Federal Reserve is Encouraging Companies to potentially reinvest in this country, special support for Capital Spending, Corporate Bond yields prior to the fed move were down 150 basis points, theyre going to be down even more given what the fed announced yesterday. Thats important for Capital Spending. Second, obviously the onshoring theme is important for Capital Spending. So my point is, there will be new drivers of growth. I think one will be manufacturing, in part because of the Capital Spending thats likely to happen for many, many reasons and to be sure this onshoring theme is one of them. Thats how you actually create new jobs. So im trying to look through and not downplay the covid crisis but look through it, look longer term, are there longer term Growth Drivers in the country, and the answer is yes. Capital spending and manufacturing will create jobs, as will housing. Maria i think you make so many important points, especially since we know that Peter Navarro is the point man on trying to work on getting manufacturing supply chains from china, out of china and in the United States or elsewhere. Were going to need that Manufacturing Base to to get fired up again, nancy. We love hearing from you this morning. Thank you so much. Well be watching your research, certainly, nancy lazar joining us from cornerstone macro. The u. S. Jobs market attempting to recover, we take a look at how radiology is an emerging and up and coming industry for american jobs post pandemic. Coming up. So long standardized testing, byebye, another Major University joins the list of colleges not requiring the act and sat exams. Will tell you which ones. Stay with us. Whatever happened to tuesday and maria welcome back. The next jobs in america, the coronavirus pandemic creating an enhanced focus on medicine and prevention and a huge amount of Job Opportunities in radiology, the specialty is one of the Vital Services used to help diagnose the most severe cases of covid19. Joining me right now is wanger pasiri radiology chief operating officer and licensed mri and ct technologists, robert day. Thank you for joining us. Tell us about radiology jobs, what type of jobs will be in the most demand . Sure. Good morning. So it was actually a boone for us during the pandemic. One of the things at the very beginning on the onset of the pandemic when testing was at a premium, one of the things that we saw personally here at the practice was that chest xrays were actually what we were using to help diagnose positive cases of covid. It became very important to kind of help direct the patients that were having trouble getting into the hospital or having trouble becoming being tested. We were using test xrays, the most basic form of what we do. Radiology has been around forever. Its a growing field as the modalitys kind of develop and the technology advances. But right now xray is something thats booming in the medical field. Maria so, i mean, you know, just about a year ago i was on doing a special on a. I. And everything i did on a. I. , on radiology pointed to radiology jobs are going to get targeted by a. I. That Artificial Intelligence can understand how to operate radiology machines and that people would be out of work and now all of a sudden were seeing Job Opportunities in radiology. What about technology and a. I. Replacing those jobs, is this a shortterm boost in Job Opportunities in radiology or do you see this longer lasting . I see it as something that believe it or not, a. I. Has been part of the field for a while. A. I. Is something that we use to enhance and streamline workflows but at the end of the day radiology is a very handson, patient orientated clinical job where you still even with a. I. , helping us do our jobs, making us more efficient, we still need a technologists to talk to and put the patients on the table, understand why were doing the study and the a. I. Is going to help us and enhance what were doing but it would be a long road to actually replace the technologist. Maria real quick before you go, robert, what are the sillsets and training that one needs to get, to get a job in radiology . Its kind of the sweet spot because i always explain to people, its kind of like doing an apprenticeship. You need a two Year Associates degree to become a licensed xray tech, ct, mri, nuclear medicine, a two year degree is required. A lot of the training is more of a handson clinical training. So its kind of like an apprenticeship, like learning how to become an electrician. Most of the training is actually done doing the procedures. So its a part of its that skill of education, where youre going to need to go and learn anatomy and physiology and physics. Most of the training, the really intense training, what will make you a proficient and highly skilled technologist is actually handson, doing the job. Maria we will leave it there. Robert, great to get your insights on this. Thanks so much. Robert day joining us there on opportunities in radiology. Still ahead, so long standardsized testing, another major University Joining the list of colleges not requiring the act or sat exams, well tell you which ones after this. Stay with us. 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. Because when you want to create an entirely new feeling, the difference between excellence and mastery is all the difference in the world. The lexus es. A product of mastery. Experience amazing at your lexus dealer. Maria welcome back. Time for the morning buzz. Harvard university dropping standardized test requirements for 2021. Applicants will not have to submit act or sat scores due to the coronavirus disruptions. Cabot, your reaction . Cabot this has nothing to of do with coronavirus. Theyre trying to make it sound like the sat test has been disrupted around the country, thats why were doing this. This has more to do with them wanting to take away the requirement. We covered campus reform. The average age has to score higher than the students of other races. Theres bad publicity. Theyre trying to remove anything thats politically incorrect. They feel that the sat test dist students of other backgrounds. Others look at it as a barometer, a way to look at students based on their abilities. Universities are facing a politically incorrect accusations because they put so much weight on the sat. This is going to be the growing trend in academia. Maria really interesting, actually. And then next up, United Airlines doubles down on of its flying restrictions, united making wearing a mask mandatory to fly as of thursday. Passengers not complying will be denied boarding and placed on an internal travel restriction list. Dagen, what do you think . Dagen how far are they going to go in policing this. Onethird of the people i see Walking Around new york city Wearing Masks have them below their nose. Is that the way to wear it . The job of the Flight Attendant will be to make sure people have masks on and make sure theyre positioned properly. Come on. Maria jon, what do you think . Jon you know, im interested in that harvard case. I mean, theres been a lot of debate over the years about the sat and act and whether theyre discriminatory by race or income level. Theres a lawsuit in california over this. So to a certain extent, yes, i think this is going to be a test case of whether schools can process all these applications without depending too much on sat and act. Maria how about this, tom bradys new look, the Tampa Bay Buccaneers asking fans over social media when the team should release photos of brady in his new uniform. Brady responding, saying simply tomorrow. What do you think about that, jon . Jon im a giants fan. Good luck, tom brady, down in florida. I hope i never have to deal with you again. Maria dagen, you want to see his new uniform . Dagen sure. I think its probably more palletable shirtless. Palateable shirtless. Maria a vision to go to commercial a break on, stay with us. Make a trip to michigan. Or kentucky. Or illinois. Where youll find our workers and dealers and engineers and technicians. Building for america. Were proud to employ more hourly workers than any other automaker in this country. Because we build for this country. Unlike ordinary wmemory supplementsr . Neuriva has clinically proven ingredients that fuel 5 indicators of brain performance. Memory, focus, accuracy, learning, and concentration. Try neuriva for 30 days and see the difference. Maria welcome back. Good Tuesday Morning. Thanks for joining us. Im maria bartiromo. Tuesday, june 16 top stories right now 8 a. M. On the east coast boosting u. S. Economy Federal Reserve will buy individual corporate buttons white house reportedly working on one trilliondollar infrastructure package, news helped fuel a big rally u. S. Futures going to open up better than 400 points a 500 point rally right now dow futures up 495 nasdaq up 131 s p 500 up 43 points right now hour and a half away from the opening bell, Police Reform President Trump calling for change, he is expected to sign an executive order today over hauling policing in america, moments from now former Senior Advisor to president Obama Valerie Jarett will join me her take on police roamers as well as 2020 reef Presumptive Democratic joe biden narrows down pick for Vice President. Cases in yu stais surpassing 2. 1 million more than 116,000 deaths the toll expected to top, 200 though by october, 8 30 a. M. Eastern we get a look at the Economic Impact the virus is having on jobs when we get the may retail Sales Numbers released 8 30 a. M. Eastern we bring those as soon as they hit the tape, show you impact mornings with maria is live right now. Changing Police Protocol on agenda, President Trump set to signss odd prioring certifying officers in training methods involves he associating workers where exhe per tees is needed first on fox Business Interview with former Senior Adviser to president obama author of the book finding my voice when plan crumb bls thank you wonderful to be with you. Lets talk about this executive order that the president , is expected to sign, today, what are your thoughts, on the response so far . And tell us how you assess to situation in america today. Well, i think we obviously, have a breakdown in the bond of trust between communities of color and police, all 50 states demonstrations people of raises saying we can do better the question how do we do better that is roll for frlg for local Law Enforcement, working with their communities, local elected officials to get this right how do we taylor resources to make sure, that we are actually meeting justice and Law Enforcement in a fair equitable wrai all leverage that we can turn to increase bond of trust we have to look at each community differently there are needs not a one size fits all do i think there is a role for federal government can play in terms of broad parameters pressure on local mayors, City Councils to do the right thing. You have said that that we really need all hands on deck, from the local governments, to the federal government, tell me where you see need what should government be doing today to regain in our police force. , for example, a couple weeks ago, president obama asked the nation emaciation to look at use of of force next 60 days, in concert with local communities, and see what is the social contract, for example, i am a strong believe in Community Policing i think helpful Law Enforcement, get out of cars get to know Community Hire people local in the neighborhood strengthen that bond of trust that way as opposed to say sending in military equipment extremely expensive a different contract between residents and police i have think every community has to figure out, what meets their needs what are appropriate use of force, i think, for example, we also need, better screening National Databank police have been in trouble dont move from one jurisdictions to another training far more training than we have in terms of de deescalation, also in terms of biases we know we all have when people swa er to serve and before i them a badge a gun interest is higher duty of expectation how we are treated means we have to make sure they have necessary to do a very difficult job. The idea of defunding the dwoif sounds you dangerous to me what do you think was going on in those groups when looting started you want people he to be able to express themselves were all horrified angry over george floyd you dont want chaos looting across the country ripping our cities down, how did that happen do you think . Were there owed groups came in disrupted the protesters like antifa . You know, i am not on the ground, maria i dont have assessment what happened i know there was enormous amount of pentup anger frustration, building for decades do i believe that Peaceful Demonstrations are solution to moving forward hearten to do see most demonstrations have been peaceful. On issue of allocation of resources as i said earlier we should be figureing whult do we need to do do we need, for example, more Healthcare Providers social workers going out with police . I think very likely a good idea sometimes we have ask Law Enforcement to do things beyond their focus not fair to them not fair to residents of the community an opportunity to say what are the strategies when president obama was in office created a task force of 21 Insecurity Task force Community Policing set forth blueprint continuing through Leadership Conference so we do have best practices so for all the 18,000 Law Enforcement agencies around the country to look what best practices are those evidence based practices with community you are serving work hard to restore trust we know vitally important for miff to do their jobs we dont want people taking matters into their trandz hands, trayvon martin, that is not the solution breakdown in trust has to be restored. We had david dorn die trying to protect pawnshop 77yearold man in middle of looting defunding police, is a serious issue, and it is gaining traction across the country, i know you said, you do not favor defunding the police the; is that right . . Well do you mean by that eliminating the Police Department or do you mean making sure resources allocated meet the values and policy of justice, of those who are being governed, two separate issues here so i dont want to get into semantics he debate i think we should stay focused what do we have to do to make sure that police have the tools they need to effectively fairly police and that there is checks and balances that there are transparency investigations other issue hotbutton issues separating prosecutors have to work hand and glove with police from during whether or not a wroig inherent conflict troubling array of issues, i wish there was one size fits all a magic solution it is going to take hard work effort, in a sense tensions that we have in the police microcosm of society a portion what we have to do to really substantially reform our criminal justice system. I mean, at the same time, the laws of certain areas, are also not helpful the bail reform law in new york, for example, over the weekend we learned, that since the covid19 pandemic started 250 people were let out of Rikers Island on to streets had to be rearrested for committing more crimes 450 times your reaction to bail reform law that laws criminalize back on streets, because they dont have to have bail and then they are gone. Look, we better did a study when president obama was in office 11 Million People a year in our jails waiting trial many of them are not a threat to society, after con providing serve average 23 days, so that is not the a risk to society and we have to be smart about this people not the a risk we should not incarcerate them many simply because they are poor, so i think bail reform is necessary, we just have to make sure that we are looking at each individual case determining whether or not that person is actually, a threat to society before we incarcerate them. As if i think new yorkers would say its hasnt worked in new york. Well you know i am not living in new york so i feel that i i do realize how many people are poor, are incarcerated awaiting trial that isnt fair either imagine what happens to you if you are a mom you lose your custody of children single mom could lose your job all kinds of things, to people awaiting trial the question is we have to be smart another example one size does not fit all. Have valerie to 2020 massachusetts senator Elizabeth Warren helping presumptive the democratic candidate joe biden raise 6 Million Dollars in virtual are of fundraiser yes at least four African American women considered kamala are harris susan rice, val demonstrateings. How do you thie he chosen Vice President biden so lucky to have array to choose, one thing i know coming, is the president obama is the few decisions nominee gets to make all on their own Vice President knows what he needs not just to win but really more importantly to govern, after elected given the pandemic, given the economic crisis, given the tensions between he police and communities of color he is going to have a full plate i think he is the one that should determine, who best will partner with him in that that big effort that is going to have to be underway. Do you want to see African American woman there. I want to give him all the space he. He does to make his choice, i am delighted there are so many women of color, who are being considered, as reading about it in the press, and i trust the Vice President biden to do what he thinks is best for our country. Maria president obama now helping joe biden, i know going to be doing you fundraisers i want to ask you about the the white house transition from president obama, to President Trump, wisconsin senator run a johnstone reviving that 125 leaks between 126 days between obama and Trump Administration your reaction to all investigations going on right now into the origins of the russia probe i spoke would former actinging director National Intelligence rick grenell sunday morning futures where this o could go listen to what he said i got to get your reaction valerie watch. I think that transition period is key. And it is why, once donald trump won election 2016 through to inauguration at a that period of time when is we know who is coming into the white house we know the team like general flynn his team, President Trump, that is when we are supposed to have at the Obama Administration or the Current Administration begin to hand off and have a transition time that is why we have an election, in november, and inauguration in january. Is for a peaceful transition of power. That was blown by the Obama Administration. Your reaction valerie. So i cochair president obamas triangulation elected in 2008, president and his team could not have been more supportive of friction one party to the next the model that president obama insist that had we follow, between his administration and President Trump. We did everything we could possibly do to prepare administration to take office. Good capital would be report 59 page report prepared on pandemics exercise we went through to ensure they were ready for what were going through right this very minute i can say to you this completely clearly maria i am so proud of how we handled that transition. The people who were in National Security space doing their jobs kro, should not be politicized in an investigating their work, what they did was consistent with past practices throughout our nations history. Sounds like ag john dueham having conducting a criminal investigation, right now, are saying that that is exactly what did happen that it was politicking the transition, because general Michael Flynn was am burden by ig several unlawful wiretaps on campaign through carter page, your i mean there are several investigations going on right now senator johnson investigating the transition, john durham having criminal investigation into origins of the about russia probe Lindsey Graham about to subpoena many of your former colleagues. All i can tell i everything going on within our country right now, with over 100,000 americans dying from the covid19, with many, many more going up around our country, with economy freefall, highest Unemployment Rate since Great Depression tens between police and communities of color seems to me that congress should be focusing on work at hand, and not trying to fab bring kate, fabricate an investigation i can assure you our administration behaved admirably properly legally. Thanks so much for coming. More mornings with maria right the after this. To release it like its supposed to. Onceweekly trulicity is for type 2 diabetes. Its not insulin. It starts acting from the first dose. And it lowers risk of heart attack, stroke, or death in people with known Heart Disease or multiple risk factors. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. 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Maria welcome back coronavirus cases rising in texas now the Governor Abbott balking at idea slowing down reopening says there was no need to scale anything back despite increase in, infections joining me right now the he Charter Holdings chairman ceo ray washburn great to have you this morning your thoughts about texas reopening . Are you worried about movement of new spikes, now that we are reopening across the country . Maria, thank you for having me on yes, we are walk up in texas 75 occupation inside, and you know the difficult thing for us, is running a full restaurant, and kitchens where we dont have full occupation in our detaining rooms now what has happened in our businesses we test every day, all the restaurants do. Yesterday there were a number in dallas had to close down could yous employee tested positive we all try to follow cdc guidelines governors guidelines this is very difficult to operate in this environment as you can imagine so we do everything we can, and every restaurant in dallas, and across the country to put the help and safety of employees, and our customers first, but it is reopened, people are out, i mean i was out last tight to a number of restaurants, and businesses very robust right now people are ready to get back out. A well we have to we have also to point out the fact that one of the reasons that you are seeing spikes is case doing more testing, there are i think 22 million tests or so but how have you had to adjust your business to reopening regulations, whether the capacity, you dont have the same foot traffic that you had, you are not going to have that, capacity, you also have worries over second coronavirus wave what that will do, if to business come fall how are you justifying. First of all, our entire Business Model in restaurant wisconsin changed, typically, a typical sitdown restaurant will do 10 of sales to go that went up to 70, 80 march april today settled around 30 a big challenge our restaurants kitchens are all built to do orders kind frf a 5 30 to 9 00, 10 to go sales now everybody wants to go between 6 00 and 7 30, kitchens are inundated to having redesign packaging spaces at front of restaurants. As we go forward how entire Business Model is going to change we think going to settle in, around, 25 to 30 to go, sounds like it is an incremental increase in business but really is it is taking people out of dining room our costs of doing business to packaging things like that have gone up, so margins tremendously squeezed for all of us even if getting back where they were a squeeze would be pretsevere. Stay with us we will be right back. s mattered more. Wherever you go, summer safely. Get zero percent apr financing for up to five years on select models and exclusive lease offers. Rally underway way headed of may retail sales dow industrials session highs, up 623 points, 2 1 2 Jon Hilsenrath what are you expecting out of this retail sales number . I feel like it is going to be better than expected there is so much concentration on it i have heard a lot about this number, for the month of may from sources what about you will . A yeah, after what happened with jobs report, i want to say i had no idea what numbers are going to with a look like but do i think there is pentup demand in this economy i think you know people have been sitting in homes want to get out spend money i will say i wont be surprised if there was a thies pop after a really sharp decline in april. Dagen what do you think. Dagen if you get 78 increase making up roughly 40 of the sales that were lost in the month of april. Greg has written about this signs good weektoweek patterns Strong Department store sales for the week ending june 10 above your earlier levels Grocery Stores discounterers variety general Merchandise Stores recording sales above where they were a year ago but this market this is about drugs delivered by Federal Reserve, my question about what the fed is doing is just is that really helping the working man and working woman in this country . Because this inflates asset prices does that trickle down as they say . I mean look, we have largely seen, decline and elimination of the foot traffic in he retailers but there is a lot of business heaping in terms of delivery only we are going to get may retail sales number right after this break stay with us we will zero in on that show impact dow industrials session high up 630 points right now stay with us. Well be right back. Maria welcome back, good Tuesday Morning. Thanks so much for joining us. Im maria bartiromo. Tuesday, june 16 breaking news right now on Economic Impact of the coronavirus, retail sales for the month may due out any moment commitments expecting jufrm 8 monthovermonth when would be largest move ever anumbers futures pointing to rally start of trading take a looking with highs of the day dow industrials right now up 641 points, 666 as may retail sales number to come out nasdaq up 165 s p 500 up 64 points, this would follow a decline in the month april, in april big number better than 17 to Cheryl Casone with with number may retail sales hitting the tape. Cheryl all right. The estimate for monthovermonth gains april to may a gain 8 got 17. 7 , and look at the dow go we are above 700 points premarkets, take out the estimate was only for a jump 5. 5 , we got a jump 12. 4 . A pretty incredible, if you strip out gasoline i want to add this because that was important with gas prices, it was a jufrn 18 , versus april you saw plunge 14 , that is pretty amazing, as well. You add in if you take out add he in gas Building Materials Food Services jump 11 really strong numbers guys retail sales up 17. 7 once again guys, the estimate 8 , not a huge surprise back to you and panel we heard from whether costco saying sales up almost 10 walmart executives, target online sales in general he clothing furniture seeing that jump in may already from companies, now we are actually seeing this, by the way, as i send back to you i want to add this is a record, for this particular report are from Commerce Department may retail sales glain goes dow back to you. Maria . The market soaring on numberb dow industrials up 7 40 points, better than expected as you you told us, thank you almost 18 joining us macro mavens president Stephanie Pomboy your reaction out of the gate number 17. 7 may do you see this as a snapback or something more . Well, i see it as snapback i think one Silver Lining here, though is that it is adds little bit more credibility to may payroll report, the Payroll Employment report such a stunner, so at least this number provides a little bit of support to that. Although would also point out you know weve seen, a huge stimulus in terms of money flowing to house hopdz unemployment claims for many better than going tobacco to work should not be throttotally surprising to have money stores open going out spending it especially after having to sit on hands last couple months, i mean my takeaway this bounce is to be expected would have been shocking had we not seen a rebound, but the question is the sustainability you know where i stand on that likelihood we see another new normal type of on part of the consumer after this whole situation with covid is pretty high, and that will revert to lower level of spending growth, a higher level of savings growth like we saw after the financial crisis. We got 33 percent plus savings rate right now even though sales up 17 Dagen Mcdowell dont forget what nancy lazar told us earlier in the so, so far the housing industry, that is really snapped back, she thinks that is leading us to growth, for the second half of the year housing doing much better, retail sales up 17. 7 on top of jobs numbers growth 2 1 2 million jobs for the last month as well dagen. Dagen indeed not just the stimulus checks coming from the government or even enhanced unemployment benefits, talking to jay farner from quicken loans yesterday seeing refinancing activity picking up with low Interest Rates because i was criticizing the fed earlier that is a way that that money trickles down to people who own homes, in this country, but stephanie when that extra money on unemployment runs out, then what happens to the economy . And is there the expectancy, that congress extending that at least for the new year . That ismilliondollar question, you know where do we settle in terms of Unemployment Rate after this, just quickly, on the housing stimulus and ability to refinance, and the boom that we are seeing as consequence not boom but solid housing number i would just hit the 14year high as a share of total home sales if you think about what happened 14 years ago, that was peak of housing bubble, soing there are so many signs of fraud going on thanks to the fed has done here, now obviously, you know they had to do something, they have really just of the everything they can at every segment of the economy, but there are in untoward consequences home flipping going up as returns on is declining, but you also have now the return of day trading in if stock market, pushing the market to really very high valuations, you know when you look at again at that old market cap gdp measure, we are a cool 15 trillion overvalued that would translate to 50 hair cut in stocks, fed is really throwing everything it can at it ultimately the question is how long can it keep the market supported and you know what are the consequences, if things start to come unwound we see a version to the mean in valuation extremes. Retail sector so bifurcated 17. 7 increase retail sales for month of may Comp Store Sales in a portion of retail doing very well costco, doing operating at least 12 months, Comp Store Sales up 9. 7 may you also had walmart, target said last month spending picked upend he of tril up bankruptcies, you have a number of companies have already said they will not make it out of this stephanie. So go through retail part through it for us show us where growth where this still challenges remain. Well this is sort of another unintended consequence of the fed policy last decade it supported what you call the zombie businesses a long time because a lot of players that really he couldnt operate with profits, were able to continue to run their businesses because they could Access Unlimited supply of credit to sustain their operations, so they really were driving down Profit Margins across Retail Sector we are finally seeing rationalization of that capacity excess what we are seeing in retail could happen in variety of sectors as Zombie Companies finally die, however, it is exactly that phenomena fed is trying to stop they are trying have to prevent a wave of bankruptcies so far, they are not really succeeding in may lone we saw largest increase 27 corporate bankruptcies as any may prior again includes 2009, so i think the problem right now is the fed is in a very tricky situation it cant lend to companies that would with otherwise be insolvent but those weakest links are now very large share of really the largest representation they have ever been, Corporate Credit market, and so the concern is they will be knockon he kwegs i think the surprise with what fed announced yesterday with Corporate Bonds program is the timing of it we have known they are going to do this for a long time was it accidental did fed on anies that would market plunge 1800 points fail to recover next day . It feels like they are almost in a kind of panic mode over there, about sustaining these lofty valuations because, of course, the last thing u. S. Economy needs right now, is a bloodbath in the financial market. Socialism theyve going to to really hold this thing together they are throwing everything they can at it. We will see how how successful they are. Maria kroo Jon Hilsenrath jump in here as we see market new highs up 825 points on dow futures market is gaining substantially on numbers go ahead Jon Hilsenrath. A few points one thing i have been talking about, with you for a while now, is pentup demand i think there is a lot of pentup demand for consumers to get out there and spend, so digging underneath numbers one thing that is interesting, is you know we know this but now we see in numbers, only retailing on fire grew 10 in may and ten he inks 10 in april the other thing pop in auto sales way down in april came back in may. You know we might have a chance to see consumers get out do the big ticket spending, you know the a lot of auto factors i should say also were shut down during this shutdown so i dont know if they are going to have inventory, to meet all demand. I think that there is a real potential next couple months for pentup demand to drive the economy, one other thing there has been a bunch of talk about housing low Interest Rates i think, are going to have an effect on housing im going to be interested to see where building shows up everyone talking right now about americans fleeing cities. Housing shortages in cities i am wondering if we are going to see more building in mrn cities to try to alleviate some shortages that we see that have driven prices up so much caused so much inequality a lot to digest i think pentup and in the story this summer. A i dont disagree at all i would imagine eating at restaurant or shopping there will be a lot of spending this summer the question again what is the sustainability of that where do we end up . What is the the new the levy of growth spending we settle at after this . And, you know, i take he longerterm view i am not really trying to forecast what were going to do next two months im trying to figure out what is broad direction of the economy the next five years, from this, and seems to me like we are going through he something very similar to what we we went you there after the Global Financial crisis where, consumers they come out of bunkers for a little bit then say all right now we caught up with things we wanted to do weve got to really buckle down and focus on repairing our finances, i mean they have got not saving for rainy day on assumption rainy day is never going to come really isnt a wise approach i cant imagine that the impulse to save would be less than after Global Financial crisis that is just my my own broad takeaway on it. Maria unfortunately it is a pandemic and shutdown people to start saving again got a savings rate now back up to 33 the president just tweeted about this blowout retail sales number what president just wrote wow may retail sales show biggest one month increase all time up 17. 7 far bigger than projected looks like big do a for stock market and jobs writes the president that is exactly what we are seeing with dow industrials up 869 points right now, Cabot Phillips jump in in terms of what this number means fore broader economy going into election. I think jon is right pentup desire of people to get out and spend the question as we start reopenings more start to see covid numbers increase, people getting out more, is that demand going to be there are people going to revert back to more online retail, from election standpoint this is not the best thing that could happen to President Trump especially after few weeks here, where there have been tumult around the country there needs to be something president can point to, enjoys reminds people how Strong Economy has been vast majority of term as president i think pointing the stock market as job numbers go up, the perfect time for that again, issue past few weeks have not been great for the Trump Campaign i think this is going to be, a win they can point to as far as fostering economic confidence. Market was down almost 2000 points we are seeing comeback friday and then, yesterday, and today, what is your take are you going to be selling into this rally this morning of 800 plus points on the dow . Uh [laughter] well, uh you know, i am going to try to just sit on my hands, and not be impulsive thie clings were going to end year substantially lower than we are right now i think fed is going to continue to try to pull rabbits out of the hat but they cant do anything about the weakest links in the credit chain, and as those weak links continue to break eventually will have a broader impact across entire credit market and ultimately you will the stock market. Maria all right. We will be watching that, at least i got you to giggle there. [laughter] up or doin love to see you smile. . Have a great morning. You to a. Have a good day stephanie the pomboy coronavirus fueling profits for pawnshops to sell items fast cash star of pawn stars Rick Harrison is here. We design and engineer in america. 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. Maria welcome back. Of the coronavirus resulting shutdown crippling businesses but you the pawn stop industry has seen initial uptick as people sold off cash items they sold off items for cash rather to cover the bills now the economy is starting to recovery, what is next, joining is right now coowner gold and silver pawnshop star of pawn stars on History Channel thanks for joining me how are things going tell us about pawn industry how is business did you see a change as a result of coronavirus . That yeah, the market is so massively distort right now he, believe it or not, middle lowerincome people doing better now than they were before virus because, so much more if you make under 50,000 dollars a year, and you are on unemployment you are making more than when you were working. Then you have people who you know generally make up used to making a lot more money than that those are the people upper income people are selling stuff right now. Do you think things changed in terms of being able to sell years during this . I mean did you see a big uptick when coronavirus shutdown first occurred. Not at first initially i thought would last 30 days everything go back to normal like i said if you are middle income, lower income, and if you are on unemployment you are doing better now than when you were working people making over 100,000 more than 100,000 dollars a year, those people, who did not plan have a lot of savings, sitting around going what am i go to go do household two people make 100,000 dollars a year not working right now, unemployment not going to help out a lot, and, so those people coming in needing money right now. Sure what tips do you have for anybody out there looking to sell or pawn an item . That first off know what you have shop around a lot. Thing called google go on there get a lot of information today shocks me people walk by pawnshop have no idea what something is worth shop around do Research Just same thing do you when you buy a car do research, and then go from there. What are they selling mostly rick . Like i said people, high end watches high end jewelry those are people that i see. Really caught off guard when you one month, most people get by most people dont have the savings for like las vegas it is just not come back yet at all. Maria thank you. Have a great day Rick Harrison tune into History Channel mondays, at 10 pm. Maria well, another gym chain going bankrupt, 24 hour fitness filing for bankruptcy protection after shuttering 130 locations amid the lockdown. Grady trimble is in carol stream, illinois, with more on that. Good morning. Reporter good morning maria. This gym had its grand opening just days before the coronavirus shutdown, and now it is shutting down for good along with more than 100 other locations across the country. The company says this process gives us the opportunity to reposition 24 hour fitness by eliminating debt and closing clubs that were either out of date or in close proximity we other 24 hour fitness clubs. The Company Also Announced the bankruptcy filing allows it to secure 250 million in funding, and that will allow it to reopen more than 300 of its location. Ing its the second gym chain to file for bankruptcy amid e the pandemic, golds gym did so last month, and 24 hour fitness blames out squarely on the pandemic. This pandemic seems to be changing how americans work out. If you plan to keep going to the gym, you might have your temperature taken at the door, you might have to do an online reservation to make sure you have a spot to enforce social distancing, and equipment will be cleaned much more regularly. And many people may never return to a brick and mortar gym in the future. A lot of americans have switched to athome workouts, and as a result of that, Companies Like peloton are benefiting. Peloton saw a 66 increase in sales in the most recent quarter. Maria . Maria ah, yes, out feels like a new world. Grady trimble for us this morning. We will take a break. When we come back, more mornings with maria right after this. Stay with us. Maria thanksing for joining us, every, dagen, john, cabot, great to see all of you, thank you. Thank you. Maria weve got a rally underway, dow industrials up almost 1,000 points, markets responding to that great retail sales number. Right to Varney Company we go. Stuart good morning to you, good morning to everyone. Lets get on with it because this is one of those hard to believe days. A huge stock market rally, more money printing from the fed, maybe a trillion dollar infrastructure program. Plus an improvement in u. S. china relations, a breakthrough in virus treatment using steroids. Big jump in retail sales last month, and were also covering the disaster known as baseball. Weve got it all. But well start with this, the dow looks like its going to be up close to 1,000 points at the opening bell. That would be a