Market. Thats the way it seems. Secondly, the europeans have announced a massive stimulus plan, close to a trillion bucks. Its really a bailout mainly for desperate italy and spain. Printing the money over there helps us over here. When that bell stops ringing and we start trading, the dow is going to be up, what, about 300 points. The s p will be up about 26 but the nasdaq on the down side. Tech taking a bit of a hit this morning. Who would have thought we would see this. For a second day running, the Airline Stocks are going straight up. Just look at that. In percentage terms, its a huge gain all across the board. Its the same story with the cruise lines. Straight up. This is all about the strength of the recovery in the most beatendown stock market sectors. Now, this may be having some effect on our market. Its the chaos which has returned to hong kong, asias financial hub. Police fired tear gas and pepper pellets at the demonstrators. They dont like beijing seizing control. The question now is what will President Trump do . He has promised quote, a very strong announcement by the end of this week. What action he takes could move the market. See this. The spacex rocket on the launch pad. Two american astronauts will be on board for the first commercial space flight ever, weather permitting. 4 30 eastern, thats the liftoff. Varney company is about to begin. Now its at 25. Its a very big day. Its up very substantially over the last six months. So we had a very big day but people are seeing whats happening, theyre seeing there is a pentup demand as i was predicting and youre going to see it more and more. We call it the transition to greatness and it really is. Stuart ah, yes, the transition to greatness. That was President Trump celebrating the dow hitting 25,000 for the First Time Since i think it was march 10th. Lets get right to it and bring in shah gilani. Shah, you are a frequent guest on this program. We have been watching you and hearing from you for years. Are you now a believer, is this rally for real . I am now a believer. It took me some while. I still have in the back of my mind the feeling that maybe we will see more unemployment numbers and some of the bankruptcies i think that are headed our way might cause some issues, but the market has proven to me that im going to steal your line, stocks just want to go up. Investors are buying. They love the rotation. The reason i think the tech stocks are selling down is a little bit of profit taking. I dont think thats because its just about this rotation into cyclicals and industrials which is healthy for the market, its about what might be happening with china, maybe some retaliation on chinas side against some of the big tech companies. Quite natural and not a big deal. What i do like is the fact the market is finally rotating and we are seeing beatendown stocks get big. A little too much in terms of the airlines and some of the cruise lines but thats very healthy to see this kind of rotation. Very healthy. Stuart all right. Obvious question, do you think we will hit 30,000 on the dow any time soon . I said i believe on your show last week, i think we can see new highs by the end of the year. The way we are going now, theres a lot of pentup demand. Typical of the scenario in terms of the fed being the underpinning and pillar of the market, now we see the ecb doing the same thing in europe. We know the bank of japan is doing that. When we see global stimulus there is no other alternative for anyone other than u. S. Equities. Stuart yeah, the europeans are out this morning with a near trillion dollar stimulus plan. I think japan has a plan in hand as well. We are seeing this quite a remarkable turnaround for the airlines and cruise lines and hotels as well. Thats really something. Shah, thanks for joining us. Im sorry to cut this short but its a big news day. You know how it is. Weve got this for you. You know how it is, shah. Thank you. This is happening in less than an hour. Disney will present its plan for the reopening of disney world. Look, orlando is the tourist capital of florida, maybe for the whole country, so disneys reopening really matters. Lauren, do we know how they are going to do this, the reopening . Lauren we will know in the next hour, when disney is expected to present their plan which includes a date of when and how they will reopen the Magic Kingdom and their other resorts in orlando. They present their plan to the orlando county task force, then the task force approves it, they send it to Florida Governor desantis and then he then will have to approve it. But do you remember universal . They said yeah, we are opening june 5th when they presented their plan . That accelerated date of june 5th, according to the rumor mill, really caught disney leadership off guard so will they respond with a similar date or push it back further into june, perhaps july . We do not know. They have four theme parks in the area. Maybe one opens, the Magic Kingdom, then Animal Kingdom. Well see at 10 00. Stuart we shall see at 10 00. You will report it for us, im sure. Thanks, lauren. Several states are easing back restrictions today. Ashley, take me through some of the more important easings here. Ashley well, lets start out in the rockies. Look at colorado. Restaurants can reopen in colorado for inperson dining with limited capacity but thats okay. We are heading in the right direction. Sixfoot distance between tables, limiting party sizes to eight people, all workers wearing face masks. No tablecloths to stay between diners. They have to kind of come up with a single use version, just something different. California, most salons and barber shops can reopen in 47 of the 58 counties in california, but guess what, l. A. County, nope. Salons and barber shops still closed. But those that open, protective gear, face coverings required. By the way, the last two weeks, we have seen a 6. 7 drop in hospitalizations in california, so the numbers are looking better there as well. And northern virginia, restrictions will be lifted on friday. By the way, the rest of the state has been allowed to begin the reopening process, but not in northern virginia. But on friday, face masks required inside businesses and Public Transportation, bars and restaurants can operate with outdoor seating at 50 capacity. As we say every day, slowly but surely, we are starting to get this ball rolling. Stuart yeah, but its been awfully slow for me to get a haircut in the state of new jersey. I look like a hippie right now but there you are. Thanks very much, ash. I got to tell everyone, in the 10 00 hour, you will get my take on the blue states that are not opening up quickly. Is that political . Whats the reasons behind that . I will ask that question in my take coming up next hour. More positive news for you. According to the cdc, the virus fatality rate is 0. 4 . Which is significantly lower than what was initially projected. Now look at this one, too. This is a chart showing the number of deaths dropping since the peak of the virus. You can see a clear down trend there. By the way, over the memorial day weekend, the u. S. Saw its lowest twoday totals since march 27 and march 28. The right direction. Marc siegel as in dr. Marc siegel, is with us now. First of all, doctor, this 0. 4 fatality rate, thats extremely low. It sounds to me like its a bad case of the flu. Where am i going wrong . Well, its a different disease because it came over us so rapidly but stuart, this is what you and i have been predicting all along. When we started talking about asymptomatic cases and people with mild symptoms that werent being counted in the thousands and hundreds of thousands, we knew that we are only seeing somebody when they get really sick go into the hospital and god forbid, pass away so of course the percentage of people who get covid19 and actually die from it is way less than what we were ever being told and thats why the. 4 , in my opinion, is totally accurate and the trend of cases is going way down now in the United States. Down to just over 16,000 over the past 24 hours. Thats the lowest weve had. We are trending down in deaths and stuart, when deaths trend down, obviously that predicts that cases are going down. Theres a bit of a delay. When somebodys stick, you knic lot of people getting it now who wont get sick until later, those numbers are now going way down. Stuart real fast, are you one of those doctors who says this opening up is okay healthwise . I think its extremely good idea as long as social distancing is kept in place. Stuart, south dakota has been open all along and they have very few cases. They only have 50 deaths in the entire state. Montana, which is a democrat state, of course, has been under a lockdown and they have 16 deaths. Theres no rationale for continuing these lockdowns right now. They are draconian. They are killing the economy. We have to open up, we have to do it carefully with social distancing. Stuart doc siegel, we hear you loudly and clearly, wherever you are. Thanks for joining us this morning. Now, lets move on to hong kong. Drama there. Look at that. More protests erupting in hong kong. Thats Police Firing pepper pellets into the crowds. Hundreds arrested. Susan, this looks like its not slowing down any time soon. Susan looks like its picking up. Can you imagine this type of scene in midtown, Downtown Manhattan on a weekday at lunchtime . Thats exactly what took place in hong kong. Heres a look at live shots right now and this is near causeway bay, from what i see, one of the central districts in hong kong. Lot of shopping areas, famous streets where you can get a lot of tourists involved here as well and as you see, its really reminiscent of the protests we saw last year as well. Now, the protests were planned to coincide with the debates in the Hong Kong Legislative Council about whether or not to enforce this new law that would fine or imprison hong kong residents that misuse or mock and insult the Chinese National anthem, and this is seen as another sign of overreach and the loss of autonomy for hong kong residents when it comes to beijing and hong kong relations but we had close to 300 being arrested, most in their teens and early 20s, but stu, again, it looks like the chaos is picking up once again after that National Security law was proposed that would, by the way, allow china to enact and pass laws without hong kongs input. Stuart we will follow that live action throughout the show. It may affect the market. We shall see. But President Trump promises an announcement about it. What hes going to do about it, later this week. We are Still Holding on to a 300 point gain for the dow industrials at the opening bell. We have still got a minor loss for the nasdaq. Tech stocks not doing well this morning. What youre about to see, there you go, that is a pretty look at that. That is an almost deserted sixth avenue. New york city is americas biggest city. Im telling you, it is flat on its back. I say its not going to get back to its old bustling self any time soon. That is a very big deal. Thats the theme of my take in our 11 00 hour. For the first time ever, twitter flagging some of President Trumps tweets with a factcheck warning, and the flagging was done by an antitrump guy. Full story coming up for you. Elon musk reportedly looking at austin, texas and tulsa, oklahoma for teslas next factory. Coming up, the man behind the campaign to put tulsa on the map. How much is tulsa offering elon musk to go there . More varney after this. 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 we have news from the hardhit travel industry and that would be longterm job losses. Ashley, start with boeing, please. Ashley yeah. Expecting by the end of the week to announce 2500 job cuts. Boeing has a global work force of around 160,000. By the end of the year, they hope to reduce that number by 10 so that would be 16,000 job cuts for boeing on a global level. Of course, they are reducing their jetliner production but also, we should mention this is the ripple effect. The suppliers to boeing, already announcing their own layoffs. Ge, which makes engines, of course, and other parts, also cutting thousands of jobs because theres simply no demand and when you get to zero orders for boeing in april, you have to start slashing costs. Stuart how about amtrak . They are cutting jobs, too, that probably wont come back, is that right . Ashley yeah, thats right. They are going to cut up to 20 of jobs by october. Amtrak employees are a little over 18,000. They will start this with a voluntary call for people to retire or move on. They will offer incentives. They say the last thing they want to do, they make the decision, you are going to lose your job but thats going to have to happen. They already sent a letter, amtrak, to congress, asking for more financial help to, at the very least, maintain a minimum schedule next year. They have already taken a billion dollars from the cares act but they say they are going to need more, and you know, Public Transportation as we know has been hit so hard, and are people going to get on trains again, at what rate . They will, but its going to be a very slow recovery. Stuart yeah. Would you get back on a crowded train or subway train or bus . Its an open question. I dont know the answer, quite frankly. All right, ash. Tesla is looking at austin, texas or tulsa, oklahoma for the place to build their next big factory. Oklahomas secretary of commerce appealing to elon musk himself. Theres the tweet he sent out. He joins us now. Sean, welcome to the program. Good to see you. Now, i have to ask you, are you the guy who put that huge statue of elon musk up there in oklahoma . It wasnt me personally but i might have had something to do with that, yes, sir. Stuart what are you offering them to come to oklahoma . Well, we offer them a great proposal. We cant really get into the details of our specific stuart can you give mow a dollar number . Are you offering billions of tax breaks or what . What are you doing . It is i will just tell you it is significant and very competitive with reno, nevada and some of their past cities that they have chosen but in addition, we think tulsa is the place they should be. We really do. We have a great manufacturing base, we have a great quality of life, Rolling Stone just featured our entertainment scene, you can buy twice the house they can buy in austin and they can get across town in 20 minutes. We think they need to come to tulsa. Stuart i can see you make a very good case, sean, but what about the people of oklahoma . Are they okay with putting out the welcome mat with big dollars involved . We are aligned from top to bottom. We know that teslas had some challenges, you know, in certain states that they have been in and we are, from the governor on down to the county health department, we are all of the same mind that we want tesla to come to oklahoma. We are doing to do whatever it takes to earn their business. Stuart careful when you say we will do whatever it takes. You just upped the dollar number you got to put up. But look, thanks very much for being with us this morning. We really do appreciate it. We wish you the best of luck in this contest. Yes, sir. My pleasure. Stuart by the way, seans im sorry, elon musks spacex, thats going to try to make history today, sending two astronauts to the International Space station. Lauren, i think, however, the launch is planned for, what, 4 30 this afternoon but weather may be a factor . Lauren weather is always a factor. Right now theres a 60 go chance for that launch at 4 33 but yes, there is a chance of rain and clouds. Continue to monitor it. President trump and Vice President mike pence and elon musk all expected to attend. This is a huge first for capitalism, if you ask me, because this is the first time that nasa astronauts are going on a private vehicle into orbit. Its also the First Time Since 2011 that they are lifting off from american soil, not paying 80 million a seat for russia to take our astronauts to the iss so this is a major launch today, weather permitting. We hope it goes okay. Stuart how much money did spacex raise yesterday . I know a couple hundred million dollars. How much was it and what Interest Rate did they have to pay, do you know . Lauren they raised 346 million in their latest round of funding, valuing the company at 36 billion. I do not know the Interest Rate paid. But i do know that it makes spacex one of the most valuable private companies there is and if you think further, investors are saying oh, elon musk is proving that Space Tourism might actually be able to happen, and thats how they are getting funding at such a high valuation. Stuart very very good story. Its an absolutely unique move. Commercial move into space led by elon musk. Its got all the elements of a great story. It really does. 4 30 eastern. Lets see if it takes off, weather permitting. Futures still show a nice gain, up 300 for the dow, up about 1 , roughly, for the s p. But the tech stocks, not doing well this morning. The nasdaq is down. We will take you to wall street shortly. Back after this. Meet jim. For jim, comfort is king. Which is why when it comes to his dentures only new poligrip cushion and comfort will do. The first and only formula with adaptagrip cushioning technology. Choose new poligrip cushion and comfort. Special you mentioned on china, does that include sanctions . Its something you will be hearing about over the next before the end of the week, very powerfully, i think. Stuart thats on hong kong. Lefthand side of the screen, this was taken earlier in hong kong. Literally a few minutes ago. The chaos con