We have you covered on all of that. Could be another big week for the white house. As the Administration Pushes for more reopenings, the economy after the worst jobs report since the Great Depression on friday. More staffers put in quarantine at the white house. And war of words with china is escalating as we speak. We expect a briefing by the way, from the white house in just under two hours from now. A live report from d. C. Coming up to tee it you will for you. Plus tesla, ceo elon musk is at it again. Over the weekend he threatened to pull his companys headquarters out of the state of california. Well tell you all that and more right now. Cheryl treasury secretary Steve Mnuchin saying that the economy may be permanently damaged if it is not reopened and reopened soon. Coming as white house trade advisor Peter Navarro hammered china over its handling of the pandemic. Blake burman joins me from washington over the latest. And what is happens at the white house. Reporter cheryl, no secret at all where Peter Navarro where china threat and where they stand on world stage. That is remarkable statement when you consider about it, navarro was there, north lawn of the white house, top advisors, certainly top trade advisors he made the case china should pay up for its handling of covid19. Watch here. I strongly believe, and i think the American People strongly believe that china inflicted trillions of dollars of damage on this country and there should be some form of compensatory damages. Frosts me disneyland in shanghai is opening this morning while my own disneyland, in my homeland of orange county, in anaheim where disneyland was born is still shut because of the Chinese Communist party. Reporter navarro also took issue with what he described as the quote, unquote, pity party that took place on the sunday morning talk shows as some of the president s top economic advisors warn that the unemployment figures could get worse and reach Great Depression levels. One of those guests, the treasury secretary Steve Mnuchin who also made the case that there is a grave risk if the economy is not opened back up. If we do this carefully, working with the governors, i dont think there is considerable risk. As a matter of fact, i think there is a considerable risk of not reopening. Youre talking about what would be permanent economic damage to the american public. Reporter cheryl, the big event over at the white house today couple hours from now 4 00 in the rose garden well see President Trump, administration there, the white house is expected to unveil the new figures, numbers as it relates to testing, and make the case that the states are wellequipped to fulfill all of the testing needs going forward. Cheryl . Cheryl if they decide to do so. Blake burman live from washington, blake, thank you. I want to bring in from Kings College in manhattan brian brenberg. Brian, lets start with the issue the markets are focused on today. Things turned around a little bit for the nasdaq and comments from south korea have concerns reopening too soon if there is second wave that the south koreans seem to be putting up the red flag about. What do you say . Well, we have to see how big the second wave is. You know we know there are going to be ripples. Nothing moves along a Straight Line when it comes to this kind of a virus and our recovery from it. The question, how big dot waves get, and how good are we responding to them when they happen . Markets will get nervous as we see first inklings. As we get experience with what other countries or states which look like what might be second waves, you will see us calm down a little bit. The question, isnt the virus going to spread. The question, do we have Health Care Resources to deal with it . Will we be overwhelmed. Right now the indications are we will not be. We have to see much more significant comeback of the virus i think to show us that were at risk of the overwhelming of the Health Care System, which remember, was the beginning of this whole thing in the first place. That is what we were trying to avoid. Cheryl but the only Health Care System that ended up getting overwhelmed was new york. Lets talk about the issue from comments from treasury secretary Steve Mnuchin. Peter navarro made similar comments. Larry kudlow made more comments. We could see a Unemployment Rate could skyrocket, that fridays number 14. 7 was not the real story, that it could get much, much worse for the American Worker if the economy does not get restarted and restarted soon. Your thoughts . Remember the Unemployment Rate probably is going to go up but that is not necessarily because things are going to get worse. It is because we have lived through worse. Were opening states right now. Some states are starting to open, a lot of businesses are operating at 25 . That is really not a reopening. It is just a tiptoe in the direction where we need to go. Yes, if the shutdowns continue, absolutely, you start to destroy businesses that right now are just shut. They will not have the cash. They will not have the where with all to reopen their doors. We are at a pivot moment, i agree with the treasury secretary. It is the right moment to be pivoting, reopening. The hope that the states can have courage, that people can be smart. They can get on with it. You can, when you see that number crest out at around 20 unemployment. That is the high. It starts to move down from there at second part of the year. Cheryl this is a model how a business reopens, i will take manufacturing jobs out of it because it is a different animal but if you look at the regular story of retail, we had Grocery Stores that have been open. We have drugstores that have been open. They put safe measures in place to have social distance as well as restaurants doing delivery. Why cant the picture of reopening look more like that, in a balanced form in a safe form, but that something that doesnt destroy the u. S. Economy and leave so many people unemployed down the line . Such a good point, chairman and you know what . The reality is that is what is happening. As you just mentioned. But the problem is you get so many pictures and images in the media of the exception to those cases but if you were out in your community over the weekend, i certainly had to go out get groceries, look what people are doing, they are being smart. There is energy to reopen in a smart way. The issue right now is will states work with the Energy People have to reopen and help them do it . Will they fight against and scold people . I think the real risk is in states take the posture, fighting against and scolding people, that is where you get the kind of malaise that will cause real economic damage. If people feel like Public Officials and the state are working with them, helping them, then you get the smart recovery that in most places were already starting to see. Cheryl not politicizing the reopening which some state governors are definitely doing. Were going to talk about that during this hour of the show. Brian, thank you very much for being here. Good to see you. You bet. Good to see you, cheryl. Markets, were off session lows. Want to look how were doing. Were down 55 points on the dow. We have come well off session lows for the dow. The nasdaq in the green, techheavy nasdaq, kneel talked about that, the s p up by a fraction. Earlier investors began to worry about the second wave of coronavirus cases overseas. We got comments from south korea to that effect. Just brought that up with brian. If there is a second wave that could delay more countries and states reopen, what would markets response be . I want to bring in Gibbs Wealth Management president , cio, erin gibbs. Money map press chief investment strategist shah gilani. Good to have you both here. Erin, first on the that question, the story of the reopening, that is what the market focused on, the month of may, if you will on a broader basis. If we can do safe reopening, if cases dont spike further across the country, are you positive about the markets . I am still a little hesitant when we look at what kind of valuations, just how far we rebounded. I still think there will be very persistent fallout, particularly in the small, mid and small has rebounded because it was some of the hardest hit i dont feel that those are the companies that will be able to withstand a very, we are talking about a very slow reopening. We have to look at companies that can still come through somewhering depressed earnings, slower earnings, at least a sick to nine month period. Im positive with strong, stable, Free Cash Flow companies, i think there is still a lot of vulnerability out there. You have to be very careful where you invest. Cheryl at the same time, shah, if you look what is happening in the market especially today, on the techheavy nasdaq it is technology, it is health care in a broader sense for the markets. These are things markets are focused on. These companies are delivering just not only for the American People but also delivering for investors . It has been that way, cheryl, it has been that way in tech since 2009. Health care joined the bandwagon recently. What i worried about, there was difference between the divide and techheavy megacaps stocks and big market. They tech stocks led the market, that is well and good. They deserve. They have brought up the markets in general and a lot of stocks down below really arent participating. At i think some point we have a beautiful v recovery in the market, and i dont think well see a v recovery in the economy, investors are going to take pause. Cheryl you make me want to take the w from erins point, erin, whether it is a v or w, we see at the end of the day. You like the large cap companies, bigger names. What about the small, midsized businesses those companies, why do you think we should stay away from those names right now . At lot of them have lower Free Cash Flows. They have less stable income. They dont have access to capital to get them through some of the down periods. I think were going to see quite a few higher bankruptcies, defaults, those types of things within the smaller midcaps versus the large. So that is where i just, im much more cautious. I really wouldnt, lets say, put an entire allocation into the smaller mids because they are much more vulnerable, particularly as we look at a global recession. Were looking 15 unemployment. There is going to be less spending because people are earning less. So those are the companies that are really going to count on every penny that are ones more likely to go out of business. You really need to be very careful how you invest in those riskier companies. Cheryl to your point, the recession is here. The question is how long is it going to last. Shah, one point, i havent brought up oil yet. The saudis are actually pulling back on supply. Theyre actually trying to do the right thing to stablize the oil market. When we can drive again, this could be a consumer positive. Well, i dont know, liz, that is going to happen in terms of price staying low. I think well see volatility in the oil markets, cheryl. I dont know that the saudis have the ability to actually cut back and say they would like to cut back to raise prices, on account of the fact they are having budgetary problems that are enormous. Their wealth, their financing comes from oil. So theyre talking a good game but eventually they will continue to have to supply as much as they can in order to generate as much revenue they can. Oil prices are probably in a narrow and shallow range. That is good so far for gasoline prices. Lets hope it stays that way. Cheryl especially as the country begins to reopen and people get in their cars again. Good news at the gas pump. Erin, shah. Great to have you both here. Thank you. Cheryl all right. We have got a lot more coming up right now including the inspirational story of a Country Music artist looking to become the first to hold the inperson concert amid the coronavirus pandemic. What a social distant performance would actually look like. Vice president mike pence would welcome former security advisor Michael Flynn to the white house after his case was dropped. Whether president obama is to blame. He is coming up next. Techno logies advisor. Me too. Me too. Me too. And if youre a small business, were with you. We are with you. Were with you. We want to help. So well be right here. At home. Answering your calls. Providing support. And standing by you every step of the way. Bye bye. I come face to face with a lot of behinds. So i know theres a big need for gasx maximum strength. It works fast. Relieving pressure, bloating, and discomfort before you know it. So no one needs to know youve got gas. Gasx and now for their service to the community, gas. We present limu emu doug with this key to the city. [ applause ] its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. And now we need to get back to work. [ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Cheryl we are getting breaking news into fox business having to do with Major League Baseball. Ap is reporting that the owners, Major League Baseball owners now approved to fifth Players Union their plan to start the season around the 4th of july in ballparks without fans. Associated press just reporting that that plan is going to be presented to the union for the players. That means we could have baseball, well, in our televisions anyway by july 4th of this year. Well, President Trump launching into a twitter tirade over the weekend against former president barack obama, accusing him of orchestrating the prosecution of former National Security advisor Michael Flynn. The president tweeted, obama gate makes watergate look smalltime. Flynns own Attorney Says obama was in on it all. As we await the next steps from a federal judge, bring in the host of reality check on fox nation, david webb. Great to see you. Cheryl Michael Flynns attorney was with Maria Bartiromo on sunday morning futures, made it clear that the Obama Administration, the president obama himself knew about it. They were all behind it. They wanted to take down Michael Flynn. Were supposed to believe, cheryl, by the way, Sidney Powell has done a great job, i would urge everyone to go to the website to listen to all the facts. That is important to have it out there. They expect us to believe that president obamas senior National Security members of his cabinet, senior justice officials, were all in on this operation and president obama didnt know a single thing about it. If it did, if he didnt, then they committed what is one of the most egregious acts given a president plausible deniability. Come on america, is that what you will believe . Look at timeline, 2016, 2017, look at the National Intelligence reports. Look at discussion of insurance policy of the move into the crossfire razor investigation at the meeting in the white house, clapper, brennan, susan rice, comey. All these discussions, lisa page, peter strzok, president new nothing . The president is held accountability. What happens in his administration were supposed to believe he knew nothing about. I will leave it there for the moment. Cheryl andrew mccarthy, a former federal prosecutor was on fox news with steve hilton and he basically said, look, they were worried about them uncovering illegitimate basis of the russia probe into President Trump. That is why they targeted flynn. What do you make of that comment . They were targeting general flynn to go after President Trump and the administration. Think about it. You have a man who has spent a career in the military. Comes in, looks at intelligence sector, says we need to revise, we need to do some things to fix issues that do exist. What happens . The Obama Administration officials turn on him. They know he is incoming. They didnt like the fact that trump beat hillary clinton. They didnt like the fact that people of caliber of a general flynn of kt mcfarland, others with experience, not just political like ben rhodes were coming in. Suddenly they had a threat to the entire infrastructure. What president obama had put in place. Not to mention what they had done with justice and what they had done to the Justice Department under james comey and under the leadership of others. This is something that needed to be fixed. Flynn was a threat. Trump was the biggest threat. And all of the others around him. They were all in peril. Cheryl it has been stunning, new developments we have gotten in the story last two weeks. A lot reported right here. David webb, thank you very much. Good to have you on the show. Thank you, cheryl. Cheryl we have a lot more coming up. Well switch gears here. One Country Music singer is hoping to set the stage for socially distant concerts as soon as this week. Also coming up next, another round of stimulus relief for American Workers . Sounds expensive. Looking at proposal for cares