Gain i think im looking at the right place, nasdaq composite, up 1. 5 . We are doing well this morning. Now look at this. Novavax started phase one trials of a vaccine with human participants. Results expected in july. Big stock gain. By the way, the ceo will be on the show today in our 10 00 hour. Merck are working with an austrian vaccine maker and they have established partnerships with others in the field. Merck is a dow stock and it, too, is on the upside. 3. 7 higher. Heres the bottom line. There are hopes that a vaccine may be developed more rapidly than thought possible. All right. Im going to show you some of the scenes from around the country this memorial day weekend. Its the official unofficial start of summer. We took every opportunity to get out and have a good time. That suggests the recovery is picking up steam. We will show you more about this in just a moment. Joe biden, he broke out of his basement for the First Time Since march 15th. He was wearing a mask. He and his wife jill laid a wreath for memorial day. Now, hes trying to recover from his youre not black statement. That may affect his choice of Vice President. For those who love freedom, terrible developments in hong kong. Beijing will enforce its control. Big trouble brewing. About 18 hours from now, the Legislative Council will consider draconian security measures. A big demonstration is planned, a showdown is coming. What will our president do about that . Yes, weve got a big show just ahead, including larry kudlow. Hes at about 11 30 this morning. Varney company is about to begin. Together, we will vanquish the virus and america will rise from this crisis to new and even greater heights. As our brave warriors have shown us from the nations earliest days, in america we are the captains of our own fate. No obstacle, no challenge and no threat is a match for the sheer determination of the American People. Stuart yeah. Id call that a positive message from the president. We are coming out of the threeday weekend with a reopening rally. Check the market again. Now we are going to be up over 600 points for the dow industrials. We are going to make it back above, well above 25,000. Got to take a look at big tech. Looks like they are the clear winner today. They have been throughout this lockdown. Just look at apple, 324. Microsoft, 185. Et cetera, et cetera, et cetera. Mike murphy is back with us this morning. All right, mike, obvious question. You see new highs coming for the dow, thinking above 27,000 soon. What do you see . Yeah, stuart, as we start, you hit it at the top of the show, as the economy starts to reopen, you have a lot of pentup demand and you see money wants to come into the market. This 500 point pop we are getting this morning, we are now only about 12 off alltime highs and we are going to get there. We are going to get there quickly because you have, a, the pentup demand and b, the stimulus on the other side of this. So we will see new highs and we will see them very soon. Stuart quick opinion of mine. Even if there is a second wave, i dont think theres any going back to a lockdown. What do you say . I couldnt agree more. I cant believe that we actually went through this lockdown as it went as we did but i think the president has already said that hes not going to do a lockdown. We have the top scientists in the country on top of this. I dont believe you will ever see the United States economy locked down again. Stuart stay there, mike. More for you in just a second. I want to talk about the positive news on vaccine. First of all, novavax moving to the testing phase with their vaccine. Lauren, tell me more. Lauren they already started phase one testing in humans in australia. Results coming in july. At that point they will do phase two in other countries, including the u. S. This is likely a twodose vaccine. However, novavax is using established technology which means they can scale it. They plan to have 100 million doses by the end of the year. Also got a 388 million round of funding from a bill gatesbacked group. The ceo will be on this program to talk about their hopes for a vaccine at 10 30, as you know. Stuart we have all the Big Drug Companies involved in vaccine making or vaccine try. Merck. Tell me what theyre doing. Lauren theres at least ten that are in human trials. Merck was late to the stage here but they are working on two different vaccines i want to talk you through. Both of them are significant because they would be oneshot vaccines instead of two doses. They have acquired an Austrian Company and will work on a vaccine with them. They also partnered with a nonprofit, the iavi, and will work on another vaccine with them. And one more thing. They are working on an oral treatment, an antiviral. They are partnering with a Company CalledRidgeback Biotherapeutics to do that. Merck is a dow component. Up 3. 6 because they have all of this going on to get us a vaccine as soon as possible. Stuart you know, this is all positive news for the market and so is this. A lot of people getting outside this weekend. Look at this, for example. Im going to go through this. Look at the beaches, restaurants, bars, parks, all round the country, where they were open, where you were allowed to go, they did good business. Ive got some numbers for you on the reopening. First of all from the tsa. The number of people passing through security, up big since last month. What you are seeing on your screens is, okay, there is actually a spike at the very end there from march until now, a lot more people are traveling. People are starting to get out and eat out, according to open table. They say restaurant reservations online, look at that, theres a distinct trend to the upside right there. Mike murphy, come back in again. I say this is a very big and active reopening. I think we are beginning to see the other side of this thing. I couldnt agree more, stuart. I will tell you on the eastern end of long island, there were restaurants literally open for business this weekend. You could go in and sit down and have a meal served to you in certain restaurants. Thats just thats in new york. The rest of the country is way ahead of us. So people want to get out, people are sick of being tied up in their homes and youre seeing it already. This is where the recovery happens. Before new york state opens, people have already opened the state. People are already going out and living their lives. Thats what i like to see. Stuart i want an update on the states that are easing lockdown restrictions as of today. Ashley, what do you have . Ashley lets look at florida. Good morning to you. Broward county today, beaches and gyms can reopen. By the way, on the beaches, i was just looking up some of the local rules which is kind of weird to me. They are opening the beaches at sunrise this morning so they are already open but no sunbathing and no lounging. So i guess you go down there, you dash into the ocean, have a quick swim, then dash off again. Not quite sure about that. No groups of people of ten or more, also not allowed. But the gyms can reopen with capacity restrictions. Michigan moving on, their Retail Businesses and auto deal ership are open by appointment. You want to buy a car, make an appointment to go see someone. West virginia, state parks, cabins and lodges are reopening. Indoor and outdoor bars, at 50 capacity. Once you have done all that, you can go to a museum and check out the stuff inside the museum. Just every day, bit by bit, week by week, we start to see the country reopening. Its encouraging. Stuart i like that bit about no lounging. Not sure whether thats an american word or not, lounging around doing nothing. No lounging on the beaches down in florida. Ashley no lounging. Stuart thanks, ash. Mike murphy still with us. Hes got two stocks that he likes as the country reopens. Fed ex and uber. Make your case, mike. I think you still see fed ex trading down from where it was in the mid 200 a share. Its come all the way down to where it is this morning. Its going to open around 120. I think they are delivering so many packages, they went through a real rough spot when amazon came after their business but now amazon has stepped out of that business. I think as people have been quarantined they have realized they can shop more online for more things, so i just think fed ex is completely undervalued here at these levels and its going back north of 200 a share. We own it and would buy more here. Stuart you own uber as well, i think, right . Yeah. Uber is one we have discussed at length. When you look at uber, uber is a company that i see as the next big tech company, the next 500 billion plus technology business. They are doing so many things, they have over 100 million users every month on their platform. The ceo, dara, is doing a great job with the business. Whether its uber eats or people getting back out into ubers again, theres a lot of upside in uber even from these levels. Stuart mike, glad youre with us this Tuesday Morning. Its going to be quite a day on that market. Thanks, mike murphy. All right. I want the latest on hong kong. This is dreadful news, actually. More protests over the weekend. Xi jinping went for the nuclear option, the new security bill, which will firmly put beijing in control of hong kong. Susan li is with us. First, lets deal with what the white house is saying here. Susan the white house is saying they are looking at all options. Dont forget that near the end of last year we had the hong kong democracy and freedom act being signed into law by President Trump, passed by both houses of congress, and this requires beijing to prove that hong kong is being left independent or they can reevaluate the extension of some of these favorable trade policies that they right now extend to hong kong. However, some say eventually that hurts the people of hong kong. As for protests, we are looking at more being called, a wednesday rally being called, possibly one of the biggest so far we have seen. This is going to take place near central hong kong, near the legislative building. So far we have the trade union saying we are going to participate in this, also hundreds of High School Student groups and people are very upset and also shocked by the introduction of this National Security law because this comes at a time when china, by the way, is still trying to recover from a devastating pandemic. Stuart you know, its a new cold war. The center of gravity appears to be hong kong. A terrible thing. We will get more on this later. Thanks very much indeed. Check futures again, please. We are still way up there, up 600 points for the dow, up about 150, 160 for the nasdaq composite. Big show still to come. White house chief economic adviser larry kudlow is here. The country is reopening fast. He will deal with that. Personal finance guy dave ramsey joins me thursday for our virtual town hall. Hes on the show this morning as well. A promising sign of the reopening, back to that. Tsa screenings are up this weekend. Signs of life and travel all across the country. Did you see this headline from the wall street journal . Its called the blue state lockdown blues. The slow reopening in liberal states will hurt the National Recovery. We will dive into that for you and thats next. You wouldnt accept an incomplete job from anyone else. Why accept it from your allergy pills . Flonase sensimist. Nothing stronger. Nothing gentler. Nothing lasts longer. Flonase sensimist. 24 hour nondrowsy allergy relief 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. Stuart heres an interesting headline from todays wall street journal. The blue state lockdown blues. The slow reopening in liberal states will hurt the National Recovery. It goes on, democrats think they can make businesses go dark for months on end and then use a dimmer to turn them back on. Its more complicated. Businesses need suppliers and paying customers. This is why the economic recovery will be especially painful in democrat states that stay locked down longer and where businesses were struggling before the pandemic because of high rents, taxes, government labor mandates, okay. Thats a long quote but we went through it. Andy puzder is with us, author of getting america back to work. Andy, you tell me. Why are the democratrun states dragging their heels on reopening . I dont think its any mystery. I think they think they get a political advantage if the economy recovers slowly, particularly if it doesnt recover fully before november. So with new york, new jersey, illinois, california, you know, thats about a third of our economy. So they really can have an impact on National Recovery by going as slow as they possibly can. Stuart it is unconscionable for the leaders of these states to force companies into bankruptcy and thats exactly what theyre doing. If they are forcing companies into bankruptcy they are forcing working class families to stay home, not to work. Can you imagine being a 25yearold with a wife and child and youve got a job, you are making ends meet, maybe going to school. All of a sudden you are staying home for two months, maybe three months, because of this shutdown, wondering if you will be able to pay the rent, if you will be able to feed your family. A government check is nice but its not going to replace a job or paycheck or the opportunity to succeed. But thats where these democratic governors are willing to put people at risk and businesses at risk purely for political power. Its about power, its a power grab. They are trying to change the way we vote, the way we do business. This is a very very reprehensible situation. Stuart the president wants to rebuild the economy, having created a terrific economy earlier. He now wants to rebuild it. But i dont think he can rebuild it unless he wins the election in november. Are you with me on this . I dont see how he can do it. Nope. He has to win it and if he wins the election next year is going to be a spectacular year for the United States economy and for American Workers. We need to stop doing the things that discourage people from working and discourage businesses from growing and start encouraging them again. You listen to the democrats policy, they are all about discouraging people from working, keeping businesses shut down. Thats absolutely the wrong way to go. We need President Trump back in charge come this november and we will have a very good year next year. Stuart andy, we look forward to it. Thanks very much, andy puzder. Now, more promising signs of the reopening. I will repeat the stuff we got from the tsa, the security people. How many people passed through security over the Holiday Weekend. This is important stuff. Ash, give me the numbers. Ashley yeah. Its interesting, stu. It does show that more people are traveling. Lets look at these numbers. Friday, saturday, sunday, we just got in yesterdays numbers, but friday, heading into the long weekend, 348,673 people, individuals, screened at security checkpoints. That sounds encouraging. Last year on exact same day was 2. 7 million. So that gives you an idea of how far we have to go to get back to anywhere near normal. Saturday, 253,000. Last year on the same day, 2. 1 million. On sunday, 267,000 people or thereabouts traveled. The year before on that day was right about 2 million. We just got in yesterdays numbers, 340,000 people went through tsa checkpoints yesterday. But you know what, the same day last year, 2,512,237. We are showing signs of growth. Thats good. But just keep perspective here, we have a long way to go. Stuart fair enough. But wait a minute, wait a minute. Wait a minute. The low for tsa screenings was down to around 85,000. That was just a few weeks ago. I would call that a rebound. I agree, we have a long way to go, but we are reopening fast. Ashley encouraging, no doubt. Stuart thats my opinion at least. All right. A symbolic reopening this morning for the first time in 11 weeks. Some floor traders will be back at the New York Stock Exchange. Jackie deangelis is there, but jackie, i dont think you are allowed in . Jackie good morning, stuart. No, im not allowed in. A lot of the folks that work here arent allowed in. As a matter of fact, only a quarter of the folks that go into this building on a regular basis will be in there today. The rules are going to be dramatically different. First off, temperature checks, social distancing lines, as you are walking in. You have to wear a mask. Plexiglass dividers and, get this, a liability waiver so that if you get covid19 or take it home to your family, the nyse is saying they dont want to be responsible for that. A lot less folks here at the moment but we are expecting Governor Cuomo to ring the opening bell at 9 30. Stuart will you be able to get in to see that . Jackie we will not be able to get in to see that. Actually, they are not telling media and everybody else that works in the building when this will happen. It seems like they are taking it day by day to see how these stages progress and how everything goes. Stuart okay. We got an opening partially at least. Jackie, thanks very much indeed. Check the futures again, please. Its a Tuesday Morning rally bigtime. We will be up, what, 600 points plus for the dow, 160 plus for the nasdaq. All right. Well be back after this. I was born in 37. It was a very struggling period of time. Up and down. Depression to exuberance. And you could name many, many cycles like that over the years. My generation, having come through so many wars and so many things. Persistence. Its the heartbeat of this country. Stick with it. Stuart ive got to say it straight. This is a bona fide rally. We are up nearly 600 for the dow. Lauren, tell me about oil. Its up, i think. Its an economic indicator, isnt it . Lauren oil certainly is. It was up about 12 , 13 last week. Its up again this morning 3 , 34. Theres a couple things going on. Quickly, the energy watchdog, the International Energy agency,