Hour as he is in wisconsin right now, far northeast port of that state in the city of marinet. As the president will be at a shipyard there, you reason he is there, the ship in the back of the picture there, that Company Involved is getting a 5. 5 billion contract to build 10 of those very exact ships. 1000 jobs to come into that area. You will likely hear the president tout that and job creation in wisconsin. That state, the badger state has been a focus for the white house and the Trump Campaign this week. There is a pretty good reason why, when you look at the history there, democrats won seven consecutive president ial elections. President trump flipped that state in 2016, winning less than 1 , 22,000 votes. 10 electoral votes are in play in november. The polls right now, if you listen to them, look at them, believe them, not looking good for the president , the real clear politics average he is down to joe biden by eight points. Highly respected Marquette University law has same eightpoint figure. How big of a focus wisconsin is for the president and those around him, the Vice President mike pence was there earlier in wisconsin this week as well. We should be hearing from President Trump shortly. Mayornet, wisconsin, the shipyard got a pretty good Navy Contract. Melissa good for them. Thanks, blake. Lets go to Jackie Deangelis in the newsroom for the latest in the market. Reporter market staged a rebound into the close. It was a seesaw session. The dow closed up 300 points. Just smile of it there. Nasdaq finishing over the jobless mark. Jobless claims 4. 18 million, slightly her than the estimate. 60,000 below where we were last week. That is a pop sign. The total number of claims 14 weeks since coronavirus started. 47. 25 million. That is not a great number. That is about 30 of the labor force lost a job because of this. Having said that lets switch gears, amazon for a second, securing the naming rights to seattles key arena. It will call it climate pledge arena as part of the new sustainability effort. The venue will be home to the nhl, the yet to be named Expansion Team after renovations are complete. You cant leave apple out of this. Reclosing 14 Florida Stores after other shutdowns across the country and some more in texas yesterday. This as a result of coronavirus spikes in certain cases. That is something the market is going to be watching closely, connell. Connell all right. Melissa jackie thank you. Connell . Connell melissa, thank you, as we move on here we have been looking at the virus surge around the country in the state of texas. Caused that state to put a pause on its reopening. That is one of the big headlines today. And we will actually get back to that in some detail. Came as the cdc estimated for every confirmed case of coronavirus there are 10 more that go undiagnosed. Well have a complete report on that in a moment but lets go back over to melissa so she can speak to steve moore. Melissa. Melissa navigating through a pandemic, what do the numbers tell us about the recovery. Here now is steve moore, freedomworks economist. Steve, as everyone handicaps what it means as we see the various spikes in place around the country, one of the biggest questions, beyond the health question, what does it mean for the economy and reopenings and the like. I was looking at economist forecast for much bigger gdp drop in the quarter from april to june of around 30 . Do you think that the contraction is going to be that gigantic . Hard to tell. I mean it is a really tough question youre asking, melissa, but i think it is going to be around 1 3 reduction in our gdp in that quarter which is catastrophically bad and by the way this is exactly the reason, melissa, we cannot allow the economy to be shut down again. It is very prudent for states to take steps to reduce any additional illnesses and hospitalizations, god forbid more deaths but we cant reverse course and shut down. We have to be smart about this. States will have to look at what works and what doesnt. One of the things they need to do is look at new york. Basically do exactly the opposite what new york did, because new york accounted for so many the deaths and so many hospitalizations. That means keeping Nursing Homes safe which something new york did not do but my view is we can keep americans safe and we can keep this economy up and running if we do the right Safety Measures. Melissa but if you look at all the data that has come through and you try to put it together into one package, you see that, yes, it is the nursing homs and it is the minority communities where you have a lot of Underlying Health conditions and Multigenerational Families living together. That is where we saw the most fatalities and hospitalizations. That is what were really focused on who is not going to get it but who will get it and die and become very sick but as connell pointed out earlier those are the places that have a big Economic Impact on the country. It is new york, it is chicago, it is miami, it is dallas and it is l. A. It is hard to say the areas of the big concentration where also the economy is. I dont know, you say new york shouldnt have shut down. Far be it for me to say Governor Cuomo has done anything right but it is kind of past us now. We are on the other side. After the shutdown so go ahead. We know a lot more about this virus than we did three months ago and so we do know exactly what you just said, that 90 of the cases are people who have some preexisting condition, emphysema or Heart Disease or cancer or pulmonary disease. We know that a vast majority of the people who get really sick and potentially die are people who are over the age of 70. So you have to be very careful. I am 60. You have to be careful, if youre my age. Melissa no youre not. What im saying is, now we know who is vulnerable, the right course of action is to protect those people but young people are going to have to get out and get working if they want to. By the way i dont think anybody should be forced to leave their home but these decisions whether to go back to work, whether to go outside or a playground, that should be the decision of individual americans. It shouldnt be a decision of the politician. I think that is kind of where we are now. By the way, melissa, politicians in these states will have a really hard time locking up the economy again even if they wanted to. I dont think it will happen. I dont see a surge in deaths. Melissa if you look around new york, last night the entire city plus was out in the streets going to restaurants everywhere else. It was like all hell broke loose. People were no way you will get that many back inside. Bounceback we saw faster than expected. Where do you think it will be by election day . I know that is a big question. Do you think it will be under 10 by november . That is what a lot of people are focused on. Were moving back more quickly than we thought, but at the same time there are more cases but what are your thoughts . Im not quite as bullish as some of my friends in the white house are. I think we are off to a good start which happened the last week or two, has been a setback, no question about it. With increase in caseload. That frightened people. That means less Economic Activity in the short term. We dug ourselves into a big hole. Here is the reason why i think unemployment will be probably over 10 over the next six months. Because we have dramatically underestimating right now what the real Unemployment Rate is, melissa. Were counting people as not unemployed, people who are on the payroll of their companies because the government is paying their salaries but theyre not really working. In all sense of things is a unemployed person. The real unemployment is already 20 . To get it down to 10 it will be a big feat to do. I think it will take nine month to a year to get anywhere near Unemployment Rate of eight to 10 because of the deep hole. Melissa wow. There are a lot of people that are choosing to stay home because theyre getting paid. I know people frown about saying that but i have talked to at least five Business Owners in the past three days who have asked their employees to come back and their employees said no. That theyre collecting unemployment and it is summer. It is beautiful out there. No, im not in the state right now. I dont feel like coming back. They put employer of the position calling unemployment, getting someone on the phone and maybe not, reporting employee refusing to take their job back. They cant get people coming back to work. When those benefits come out will more people come back to work . So tied to the question what you asked me about, what will the Unemployment Rate be six months from now, or four months from now . It depending on the policy decisions we make on the next two to four to six weeks. This phase iv package if it happens, if anything like the pelosi bill which extends this policy of extending those Unemployment Benefits i have a study that we sent over to the white house today that shows the unemployment, number of Unemployed People will be 10 million higher if we extend the benefits. 10 million more people. You cannot extend unemployment. It is a disaster. Much, much smarter to cut the payroll tax which would create two to 3 million jobs. Melissa steve, i wish we had more time. Connell, over to you. Connell melissa, well bring you the report we promised on the surge in virus cases were seeing in many parts of the country and also the reaction to that surge from texas and other places. Laura engle reporting on that and join us from long island. Laura . Reporter good afternoon. We have a lot of cases to report. This is such a surprising number, connell, the u. S. Seeing nearly 39,000 new cases in one single day. That was reported yesterday. Some states are putting in defensive measures to push back to try to keep people from coming into the state that may be infected in other parts of the country. We want to show you a map where some of this is happening. 22 states in the last week seen a spike in new cases. 20 are higher. That includes california, arizona, florida, South Carolina and texas. As the numbers of new coronavirus cases climb to an alltime high, were talking higher than the spring, experts say greatly expanded testing probably accounts for some of the increase along with loosening restrictions around memorial day. Not today. Texas Governor Greg Abbott says the state will pause additional reopening phases after Health Officials in his state reported over 4300 new hospitalizations of Covid Patients yesterday, a record high, for the 13th straight day. The nationwide numbers prompting governors in new york, new jersey around connecticut to announce a mandatory 14day quarantine from anyone visiting from the 8 hardest hit states. Governor andrew cuomo case they cant follow all travelers once they arrive here there will be random checks. Last night disneyland will not open as scheduled july 17th, citing lack of guidance from california officials. The announcement comes as the Company Moves forward to open the wall disney world resort in florida, despite local concern it could exacerbate the spread of the coronavirus. I heard you mention at top earlier, cdc officials announce they estimate there could be 10 undiagnosed coronavirus cases for each confirmed one that has been reported in the United States. So when you wrap your head around those numbers, it really is startling. Well continue to follow it and bring you more as we get it here. Back to you. Connell laura engle in new york for us. Melissa. Melissa ramping up the Battle Ground fight. President trump on the ground in wisconsin making his way through a Marine Shipyard in marin nyet. Were live in wisconsin on where stings r things stand. Movie theaters fighting to bounce back. Consumer psychology could be the answer to the industrys robust return. Breaking the bank on a household staple, cheese prices spiking to near record highs. We cant live without cheese. So how much could it cost consumers . Details this hour. At Fisher Investments, we do things differently and other Money Managers dont understand why. Because our way works great for us but not for your clients. Thats why were a fiduciary, obligated to put clients first. So, what do you provide . Cookie cutter portfolios . Nope. We tailor portfolios to our clients needs. But you do sell investments that earn you high commissions, right . We dont have those. So, whats in it for you . Our fees are structured so we do better when you do better. At Fisher Investments were clearly different. Guys guys safe drivers save 40 safe drivers save 40 safe drivers save 40 thats safe drivers save 40 . It is, thats safe drivers save 40 . Hes right there. Its him safe drivers do save 40 . Click or call for a quote today. Melissa Vice President mike pence in ohio today for unveiling of the new electric pickup truck, the vehicle built by Startup Company lordstown motors, on site of former General Motors assembly plant. Hillary vaughn in arlington, virginia with the story. Hillary. Reporter melissa, a year and three months ago that is when General Motors closed the doors of this factory. They were bought by startup, lordstown motors. Just a year and three months later today, they will roll out the first all electric pickup truck, which made its debut today with the Vice President in the passenger seat. Really is an honor to be here, to be able to drive up and help unveil what will soon be the first fullyelectric pickup truck on the market in the United States of america. Ladies and gentlemen, i give you the lordstown endurance. Today is a new beginning for lordstown and it is a new day of leadership in electric vehicles in the United States. [applause] reporter this rollout is an important milestone for the president who was fraught to bring manufacturing back to the u. S. When gm shuttered its doors, it let hundreds out of work in that community. But that factory and those jobs have been brought back to life. The endurance is joining a crowded space of electric trucks with big names already building their own electric truck lineup. Tesla has their cyber truck. Ford is working on an all electric f150, and General Motors is making electric version of their hummer. So far ford, gm and tesla have not put their trucks on the road. Lordstown motors, with this truck could be on track to be the first to today that in january of 2021. Melissa those are very cool looking vehicles, hillary. Thank you for that. Connell. Connell all right. Prepping a quote, new news experience, google has announced it will begin paying select publishers for what it calls high Quality Content under new Licensing Program for news products set to launch later on in the year. Google initial participants in the program will include, australian, brazilian and german publications. There you go. Fox news alert. Nike with its Fourth Quarter results. Lets go back to Jackie Deangelis with the numbers. Reporter connell, it was a loss on the top and bottom lines. Revenue came in well under expectations of 7. 2. Put this in perspective. The revenue in this water was over 10 billion. That gives you a sense of the drop nike is taking here. Earnings, 51 cents expectation. Negative 51 cents that was loss. The expectation was positive seven cents. To compare it to a year ago, nike actually earned 62 cents for the quarter so this is a huge divergence here. Everyone will be looking to see what the company says for guidance moving forward. What color it has to offer as a result of the pandemic weve been through. The one headline i saw, its china revenues were down 3 . That was something that you know, obviously would be in focus. Quarterly growth margin, 37. 3 . So nike dropping in the afterhours, guys. Connell yeah. Only 2 1 2 . I will say. Those numbers do not sound good. Thank you, Jackie Deangelis. Melissa . Melissa facing an uncertain path forward. One industry left reeling after being removed from what was believed to be new yorks final phase of reopening. Plus President Trump set to tour a shipyard in wisconsin any moment now. 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Plus, you want the security trusted by some of the Largest Companies in the world. And thats why you trust us. The most Reliable Network in america. Connell there are frustrations in the fitness community, especially in new york, as parts of this state are preparing for phase iv of reopening. But gym owners, surprised to hear that their businesses will not be included in that phase and were joined now from the state capital, albany, new york, by abc sports and fitness general manager. Matt, when the governor said this yesterday, what was your reaction, gyms in the final phase would not be included, not being able to reopen and might have to wait until there is a vaccine, i guess . Its very sad. Im feeling very defeated. We have done everything. Left no stone unturned over the past three months to make sure this place is safe for our members to come back too. At the last minute we feel the rug is pulled out from under us. Connell so youre, were getting ready. Some pictures of your Fitness Center up on the screen now. You thought obviously that you would be part of the phase. This was the last phase, phase iv. We must be in four. What were you doing to get ready what types of Safety Measures were you putting in place . From literally the entrance door to exit door, we touched every surface in this club to make sure it is very clean. All door handles have the these septic, selfcleaning stickers on the handles. Were going to have a Health Screening process as members come into the club, asking them a health questionnaire, taking temperature to make sure theyre safe to enter the club. While wearing masks. They have to wear them in the club. We put dividers amongst all the cardio equipment. We socially distances all of our machines. We have markers on all the floors to keep flow of traffic correct, in and out of the club to make sure there is no overlap. Even our landlord upgraded the filtration system in the ac units to have a special filter that captures bacteria and virus particles. Connell so all that cost money, right . You do it, like you said this is the best you can do under the circumstances to get ready, they say you still cant open. What are your financials like . How did you get through isnt do you have a ppp loan . Obviously that is running out. What are the next steps . Will you get through all of this . Luckily before all this, financially we were very well. We worked frgually with the money we have. We have been saving money for future expansion. Im afraid money for future expansion will go into us keeping lights on and were available. Well be able to weather the storm. I feel a lot bad for a lot of Small Businesses that were not in the situation we were before this happened. Connell could you or your employees, i assume youre a trainer or self or were, would the employ be able to go to someone else house . Is that allowed legally, private training or meet somebody at the park or whatever or is that not allowed in new york . I dont know exactly. I believe we can do outdoor training as for strict protocals going to individual houses im not exactly sure on those rules and regulations. I would be concerned from a liability standpoint going into somebodys house and somebody gets sick in your house what that would entail from a liability standpoint. Connell yeah. I dont know the specifics. I would be connell i get you, i real quick a lot of gyms, maybe youre in better spot than most, a lot of gyms cant wait financially. Do you think a lot wont survive . I know two clubs in our area has gone under since this has come. One of my clubs used to own four studios. Closed three. Is down to one. One gym in town over from us filed, is up for sale as we speak. So it is sad. Connell im not really surprised. We understand the health concerns. We also see all the time the Small Business concerns. Matt, good luck to you. Matt up there in albany. Abc fitness. Thank you, sir. We have a fox business alert with news coming in from the Federal Reserve. They do the stress tests for the banks and how they might hold up and what is a worstcase scenario for them. That stress test result is just being released. Edward lawrence as always follows the headline. What is the headline, edward . Reporter hot off the press that the fed real reserve will suspend buyback of stocks for banks. It will cap dividend banks can give in the Third Quarter to the second quarter. Also a formula based on tear recent income. Vice chairman Randy Quarles says this, quote, if circumstances warrant we will not hesitate to take additional actions to support the u. S. Economy and Banking Systems. Now 33 banks in all participated in the stress test. All of the banks now have to reassess their capital plans. They all have to resubmit their capital plans based on these restringses. Now this is the first time in 10 years that the Federal Reserve required that. They looked at a scenario, three different scenarios, a vshaped, a ushaped, and wshaped scenario. In all this, Credit Card Debt came in at heartest hit area. Losses equalingly 1. 1 . 144 billion in los angeles. Act a gaat losses for all banks were 560 to 700 billion. In all the scenarios the firms were wellcapitalized. The banks dropped to level of 9. 9 capital reserves, double the feds requirement of 4 1 2 is. If you look at wshaped test which is the most severe, urn employment rate at 16 , gdp dropping to 12 1 2 or dropping by 12 1 2 . The 10yearyearold goes to half a percent. Under that the aggregates of the banks were 7. 7 of capital reserves, well above the 4. 7 required. If you look american banks, Goldman Sachs came in close on two of the fed requirements coming in a hair above what is necessary. The Federal Reserve will use the results to set the new Capital Requirements of the banks to take effect in the Fourth Quarter. There is a lot of uncertainty Going Forward with the forecast because of the coronavirus and Health Issues coming in. The bottom line for Randy Quarles here is that the Banking System is a symbol of strength and not strain during these tests but also in this crisis. Back to you. Connell all right. Interesting, to test those different hypothetical scenarios. Edward lawrence on the banks. Melissa . Melissa return to the big screen. Movie theaters across the country are uncovering a brand new challenge as they prepare to reopen. Prices of one household staple soaring to alltime high amid the pandemic with experts warning it could get even worse do you have concerns about mild memory loss related to aging . Prevagen is the number one pharmacistrecommended memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. 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Airlines getting out ahead of this, they say if you get denied because you have a fever, then they will set you up with a refund. Melissa. Melissa returning to the cinema. Hollywood is hoping you will return to the movies soon but this time it will be a little different. Here is chris johnson, chief executive of classic cinema is. You got our attention. There was an article about the democrat psychology getting people back into the theater. On one hand you want to let them how it is really clean but on the other happened you dont want to remind them that it is really clean. How do you do that . Thanks for having me. Were not essential. Were fun. Were about getting off the couch and getting back out again. So we thought our tack would be to focus on the fun side of things. Now some people misinterpreted that and thought we were doing less of the cleaning side. Were absolutely focused on that, doing all the protocals. Were meeting or exceeding all the state and local guidelines. Subtle things. Not having seats taped off. Having point of sale program, select your seat, so that you feel comfortable with that. You know, were just, were really trying to get people back in that sort of social, fun, fun frame of mind. We certainly are doing, you know, masks are required in the common areas. But once you get your popcorn, you sit down and youre watching the screen, you can take your mask off and enjoy the movie like you used to. Melissa how can people know when they go to a Movie Theater if it has been sanitized or not . I mean, i know everyone will say theyre doing it but what would you look for as a consumer just to feel better about it . So, you know, i certainly think that actions speak loud irthan words. So youre going to see people cleaning. Youre going to see people, you know, wiping down the seats and the high touch points. So, i really think that, the proof in the pudding is, the actions of the employees, not necessarily the words that are up everywhere. So you know, i think thats, let them come out and see for themselves and, you know, and get used to what were doing and i think, they will be very pleased. We certainly have had positive Guest Feedback about, you know, how they felt about the experience. Actually, we had a google review. They were just, you know, almost seemed like my mom wrote it. They were so safe. Everybody was cleaning everything. They gave me a map when i mask when i didnt have one. Those kind of things. Melissa are you having trouble getting movies in the pipeline . That is the other thing were seeing. So many movies gone directly to payperview or streaming, whatever it is, because the Movie Theaters and the Movie Theater business was struggling before this anyway. So how hard has it been to get movies back in . First i would say the Movie Theater was not struggling ahead of that. We were up 20 in january and up in february but absolutely new movies are our livelihood. The unfortunate part if you have a state or city doesnt allow to you open or extremely limited capacity, that sends a message to the studios maybe were not ready to release that film. It is a chicken and an egg thing. We need theaters open, we need the capacity to get the new movies which are essential to our industry. And i do think that the streaming is actually complimentary source of content. If youre at home, you will watch netflix, hulu, whatever it might be but when you decide hey were going out tonight, dinner and a movie, or dancing or concert, you know, whatever that might be. Melissa yeah. No, very true. Chris, thank you so much. Appreciate your time. Connell. Sure. Connell all right, melissa, the fight for wisconsin. President trumps on the ground in what is a key battleground state. He won it the last time around. He has been trailing in the polls so far this time. Well take you there live. He is touring a Major Shipyard, a company being awarded a bigtime Navy Contract. Well be right back tums versus mozzarella stick bell rings when heartburn hits fight back fast. With tums chewy bites. Beat heartburn fast tums chewy bites. Melissa visiting the Battle Ground state of wisconsin, President Trump touring a Major Shipyard ahead of remarks to employees, expected to tout a 5. 5 billion contract with the navy. Matt fin is on the seen with the details. Matt . Reporter melissa, our understanding the president officially wrapped up the tour here at the shipyard in marinette, wisconsin. He is expected to take the podium behind me at any moment. The president is coming from green bayh wisconsin where he wrapped up a town hall event with sean hannity expected to air later tonight. President is expected to focus on the 5. 5 billion Navy Contract with this shipyard in wisconsin, bidding 50 snips and creating 1000 new jobs. Joe biden says wisconsin is bleeding bluecollar jobs this week and accusing the president taking credit for the 5 billiondollar contract biden claims was fueled by the obama era. President left town hall in green bay, where the green bay mayor wrote the president a letter that the area faced immense challenges only grown worse with the pandemic and. Mayor said we dont tolerate or willful in nor rans and we wont endorse your divisive and rhetoric. I hope the town hall is opportunity for you listen and learn from all the members of the community. This is the first time a sitting president has visited marinette, wisconsin. The president women momentarily take the stage. Melissa. Melissa i hope he understands the irony saying we dont to rate intolerance. Connell. Connell recovery for some in the manufacturing industry, the associate equipment manufacturers released a survey showed the negative impact of covid19 on that industry. We have kip, the senior Vice President of government and industry relations for that association. It is along the lines of at least the state the president is in now in wisconsin. Im sure many of your members are in these key states that will come up again, pennsylvania, michigan, wisconsin, in the president ial election. Let me go over a little bit of what you learned. First on the economic side, a third in your survey said they have furloughed up to half their employees but of those who furloughed the workers, a third said they will not bring anyone back to work. So that doesnt sound great. Tell us what we should take away economically from what youre learning in the survey of manufacturers . Thanks for having me on, connell. Really is no way to sugar coat this. Equipment manufacturers continue to face decreased demand, stressed supply chains and the industry has a long, uncertain road ahead. As you mentioned, according to our survey a third of those equipment manufacturers who have furloughed workers will not bring them back. I think even more ominously, for the future is that 80 , 80 of those equipment manufacturers who have laid workers off will not rehire them based on current market conditions. So there is a strong sense of urgency here on getting the economy back up and running, connell. Connell as we, you know, look at that urgency, we also have the spike in virus cases in a number of states, certainly not everywhere. It is not across across the boat we have number of states weve been watching closely this week. The issues your members are facing when you ask them about that, number one answer was health. That is the biggest concern even though theyre losing money and concerned about ramping up production and the like, health is the biggest thing for most people . Absolutely, connell. It has been the number one priority of our industry since the beginning of this Unprecedented Health crisis to keep our employees healthy, keep them safe, keep them on the job. Speak towing that, you mentioned the jobs numbers earlier. Give you another example what the industry is facing. 700 municipalities stopped Critical Infrastructure projects. There is a severe revenue crisis at the state and local level. As much as 550 billiondollar short fall. The federal government is really the only one can step in to bridge the gap. If they do so, connell, not only will we see up tick for demand in new equipment, but the equipment manufacturers who furloughed, laid workers off will be able to bring them back an more importantly rehire and create new jobs in states such as wisconsin where the president is today and where we support 187,000 jobs. Connell that brings us the next step in after the 4th, after the holiday, there is supposed to be negotiations on this next round of relief, stimulus, whatever you want to call it. What specifically are you guys pushing for . How would you like to see that structured to help your industry . Seems like state and local aid is important but what else . Yes. State and local aid is critical as i mentioned. Beyond that we have small and mediumsized equipment manufacturers who are running out of cash. So we would like to see more support for them in the form of credit or bridge loans. Main Street Lending program looks promising but does not yet meet all the specific requirements of our industry. So that would be a step in the right direction if congress can agree to something along those lines. Obviously continued regulatory relief would also help our industry as they continue to struggle and finally obviously tariffs continue to take the toll on the industry. Relief on that front would be helpful as well. Connell we almost forget about trade. It comes up every now and then like it did this week with europe. How worried about the spike we mentioned in some of the other states . You get local leaders, might not affect you as much, we mad the mayor of miami on a week ago, a lot of that state florida was going to from phase two to three. No were not doing that in miami. In another state, could happen in wisconsin or another local area could be hit and they might have to roll things back. How worried are but the economic recovery being slower than people thought because of the spikes that were seeing . We are very worried, connell. Equipment manufacturers have been fortunate in that we were designated as an essential industry at the onset of the pandemic. So by and large our members have been operating. They have kept their employees on the job but obviously, if we start to move backwards here on the economic recovery, both in terms of the ability to keep employees safe on the shop floor, which is obviously the only way we can stay open an also the impact that this would have on supply chains which are already under tremendous stress, we are concerned and unfortunately for many of our Member Companies they are running out of time. They may not be here come november, at least some of them. And sew we need to get the economy back roaring again. And obviously a step back in terms of the reopening phase would be a concern. Connell all right. Make that the last point that you just brought up, that many much your Member Companies may not be here come i guess the fall you said. What, how many . What type of you know closing up or bankruptcy filing might we see across this industry . It is hard to quantify and obviously our goal as an industry, as an association to prevent that from happening but when you look at some of our smaller and, some of our mediumsized Member Companies who are still open and still operating still making equipment, but with demand drying up, with cash reserves running out and then, if we see a spike in cases and perhaps the economy starts to slow down a little bit in terms of the reopening that is going to have a chilling impact on them. And it is going to be tough to continue to stay open, stay on the job, if demand doesnt come back. There is real urgency here as you said, connell. We really need to get economy roaring again. Connell all right. Well leave it on that note. Well stay on top of all this. Good to see you again. Kip with us on equipment manufacturers. Melissa . Melissa cheese prices bubbling to record levels amid the pandel i can in. Well tell you when you might get a break coming yeah up. Yeah hey, hey yeah we could never do what they do. But what we can do it be a partner that never quits. Verizon is the most Reliable Network in america. Built for interoperability and puts First Responders first, giving their calls priority, 24 7. We do what we do best so they can too. Melissa a bigger slice of your budget, supply chain disruptions amid the pandemic causing cheese prices to skyrocket. Gradety trimble joins us from wisconsin with more. Reporter to simplify a complicated situation, it all comes down to supply and demand. When restaurants closed, demand plummeted, and so did the price of cheddar on the commodities market. Those prices set the prices for other cheese like what thaw make here at this farm, mozzarella. So in april we saw that 20year low, and now prices are coming back to a near record high. Restaurants are reopening, so were seeing a rise in demand there, but also when so many people were stuck at home, they started buying more cheese at Grocery Stores as well. In fact, they were selling about 30 more cheese in retail because of stay at home orders, and now theyre trying to keep up with demand and might have to raise their prices too. We already have initiated prices starting first of july, we see the prices coming up a little bit. And just with wearing the mask, wearing the protective gear that im asking my employees to wear, that comes with a cost, comes at a price, and i have to be able to recoup some of that. Reporter so the big question is how much of a hit will your wallet take. Gray brothers expects the price to only go up about 5 or 6 , and i have to say i didnt try the cheese myself because they decided to send the lactose intolerant reporter to the cheese price story [laughter] melissa saw, he said it was very, very good. Melissa oh, thats torture. Gradety, you know, if they give you any sample, just mail them to me. That would be perfect. Thank you so much. Reporter will do. Melissa wow. That does it for us. That is classic. I dont know, ive noticed cheese prices on the rise. Everything else though too, so there you go. Thank you for watching after the bell. Lou dobbs tonight starts right now. Lou good evening, everybody. The United StatesSupreme Court today handed down a deseussive victory for President Trump and husband immigration agenda. It was a 72 decision. The high court bolstered President Trumps ability to rapidly deport Illegal Immigrants including those seeking a asylum. In the majority opinion written by Justice Samuel alito, the Supreme Court ruled that those seeks asylum do not have a broad right to have their case herald by a u. S. Federal heard by a u. S. Federal judge. Todays critical Supreme Court ruling has been preceded by victory after victory in the hi