Evidently investors like what they think they will see. 2. 1 million jobless claims reported about a half hour ago. That means 40,740,000 have been thrown out of work in the last ten weeks. Big number. Yet the economy is contracting at an annual rate now of 5 . Thats a big number. And orders for big ticket items absolutely plunged. Okay. Got all of that. But the dow jones average up nearly 1100 points in the last two days, going up again at the opening bell. Were looking at a gain of over 200 points right now for the dow, and the nasdaq is going to be down, down 80 points. That tells me big techs having another difficult day. Then we have the opening up movement. Its rolling on. Vegas and disney have dates for its partial reopening, but theyve got the dates for reopening soon. Boeing, theyre going to restart, wait for it, max jet production. Were not back to normal but we are clearly well into the reopening phase. Now this. Watch out, social media. The president s going to sign an executive order today. We do not know the details. But heres the speculation. He will make social Media Companies responsible for what their users post. At the moment, social Media Companies are protected from that kind of liability but maybe not in the future. Back on the streets of hong kong after beijing okays a new security law. We will show you whats happening as the u. S. china relationship sours even further. This is Varney Company and we are about to begin. Stuart well, this is the day. In our 11 00 hour, our America Works together town hall. First time we have done this on our show. Dave ramsay, ken coleman, chris hogan answer your questions and we have a lot of good, Smart Questions for them to answer. We also have some special guests lined up as well. Thats in our 11 00 hour. Lets get straight to your money. The markets going up again this morning, despite all that negative economic news. Gary kaltbaum is with us. All right, gary, lets get right at it. You think we are going higher from here. Correct . I think some areas are. Look, every day for weeks we were inundated with what was shutting down. Now every day we are inundated with whats opening up and thats what the markets reflecting. There was a big sea change this week. Everything that was 85 of the market that was held down because nothing was opened up is now on the move. Financials, cruise lines, airlines, housing, all popping this week. The repercussion is a lot of money is coming out of tech. We are now in a period where the nasdaq will underperform and the dow types will overperform based on the continuing opening up of america and every day right now is a better day when we hear news like that. Stuart its a switch to opportunity, isnt it. You made a lot of money in the big techs and they are all coming down, the money is coming out and going into the smaller beaten down companies. I notice that small caps are up 8 in the last two days. Yeah. And but i also want to mention for me, a big part is the jpmorgan up 10 this week. All the financials are up anywhere between 8 to 12 . That tells me commerce is coming back, capital one financial, discovery financial, those are up almost 10 this week. Thats the type of stuff you want to see to tell you that the economy, at least the market believes the economys coming back. I can tell you just, you know, my little small sampling here, things are back to normal here in Central Florida except for the tourism which will be in the next month or two slowly but surely. In the cities and in the suburbs, you just see streets are much more busy, the restaurants are open even though 5 50 , they are working, the Department Stores are open, malls are open and we are getting back. Stuart our Central Florida reporter, Gary Kaltbaum, reporting from Central Florida. Thank you, gary. See you again soon. How about this one. American Airlines Cutting about 30 of their management and support staff. That would be through voluntary layoffs and retirements. That could switch to involuntary if not enough people actually leave voluntarily. The stock is down 20 cents. American struggled back to 11 a share. Amazon, interesting stuff, they are converting 125,000 of their temporary hires into fulltime employees. The stock is down this morning. What about boeing . Ashley, come into this, please. Am i seeing the right thing here, they are restarting production of the max jet . What . Ashley yes. That does kind of make you scratch your head but yes, they are. They say slowly at the beginning because they have to get their Workplace Safety measures in place but indeed, the 737 max production will restart. It halted five months ago, in fact, the plane itself has been grounded since march 2018 but it wasnt until december of last year that they decided to actually halt production. This of course after those two fatal crashes. We should point out that the faa has still yet to certify this plane for passenger service. The Flight Control system was the major problem but investigators have found numerous other glitches, but boeing remains resolute and will continue to make the plane. By the way, they are doing this as they have announced a lot of layoffs. They will lay off 10 of their global work force by the end of this year, about 16,000 workers and notices have already gone out to about 12,000. So an Interesting Development for boeing. Continuing to put faith in the 737 max but its still not, you know, certified to fly. Stuart but the stock was down to 90 a few weeks ago. Now its almost 160. What a rebound there. Heres another major story thats developing today. At any time, President Trumps expected to sign an executive order on social media. Come in, lauren. What are we expecting to see in that executive order . Lauren okay. So the president this afternoon is expected to sign this order that gives social Media Companies protection from liability, that they are not responsible for what users post on their platforms. At the same time, current law right now also gives them power to control or take down or amend or factcheck what people say. So this executive order would strip them potentially of both of those powers. So they would ultimately be more open to lawsuits potentially and not have the power to factcheck. The president tweeting this morning this would be a big day for social media and fairness and as you know, this all started on tuesday when twitter decided to put a little factcheck symbol on the president s tweets about mailin voting. Stuart twitter factchecked something from china, is that accurate . Lauren they sure did. So two tweets that came from a China Official that accused the u. S. Of starting coronavirus. You see the yellow blurb there, get the facts about covid19. Twitter did not like that so they factchecked it. The question is, does twitter or any social Media Company have the ability to factcheck the wild wild west of what is put on the site or do they only choose to factcheck what certain people say. Stuart exactly. Thats the question, isnt it. I notice, by the way, that twitter and facebook are significantly lower in early trading, premarket trade today. Significantly lower. Thats true. Look at the big tech names. Im bringing this up because some Silicon Valley billionaires are throwing their support and their wallets behind joe biden. They want to create a digital path for him to the white house. Linkedin founder, facebook cocreator, steve jobs widow, and former google executive eric schmidt. Hes the one who helped president obamas reelection. Katie pavlich is with us, fox news contributor. I dont get it. Why on earth are these big tech socialists and billionaires, why are they getting behind the socialists . Thats a really good question, stuart, but their strategy here is very interesting. They want to target Digital Advertising. So in 2016, president Trumps Campaign really ran roughshod on the Clinton Campaign in terms of the amount of money they were spending on targeted Digital Advertising on facebook. Brad parscale spent Something Like 100 million. They have way more money to do that now. They were able to really get into the nuts and bolts of the way social media works to target the voters that they needed to get President Trump elected. So these billionaires now want joe biden to beat President Trump and are now going to dump a ton of money into the same kind of platforms to try and get him elected through digital targeting and advertising of the voters they need to get out to the polls in november. Stuart im laughing because i just cant i just cant get with this. Billionaires turning into socialist supporters. Blows me away. One more quickly. Thats how it always is, right . Stuart yes, it is, actually. Yes. Yes. This is a longrunning story here. But joe biden, he says hes going to have his Vice President ial pick by august 1st. That seems like a long way away to me. Yeah. It does seem like a long way away. I guess he has the luxury of time here because he has the pandemic and is still refusing to get out and do anything outside of what he did on memorial day, and august of course is right before the convention which was moved back to the end of august for the dnc, right before the rnc convention. So he will still have some time to do some major vetting. Maybe he will have some time to let this comment that he made on a radio show about blackness and voting for democrats to kind of pass over to give him a little more leeway in terms of who he chooses to be his nominee. Amy klobuchar is on the list, Kamala Harris is on the list, theres a whole bunch of women who hes going to choose from because he promised he would pick a woman so it definitely gives him more vetting but i do think that it is a little bit of a long time for him to be waiting to name his Vice President ial pick. Stuart i still have my doubts he will actually be the democrat candidate for the presidency in november. Thats just me. I think thats a fair thing to say. I think thats a fair thing to say. Well see. August is a long way away in political time. June is next week. Stuart its a lifetime. True. Katie, thank you very much for being here. Always a pleasure. See you soon. All right. Check that market. We are going up for the dow industrials to the tune of about 200 points but down for the nasdaq. Technology stocks not doing well today. The first casinos on the strip, vegas, are planning their reopening. Its not going to look and feel the same. Im just not sure about playing the slots between plexiglass screens and playing craps with only two people round the table. Maybe thats just me. We will have the story for you. Im sure you saw it. The historic spacex launch scrubbed at the last minute because of bad weather. The president was there but the weather killed it. Thats a sad story indeed. Because that would have been a great day. Rescheduled for saturday. No stopping it now. The economy is clearly on the road to recovery. My next guest has data that shows red states growing at a much faster rate than blue states. More 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 dont give up i know you can see all the world and the mess that were making cant give up and hope god will intercede come on back imagine that we could get it together 100 online car buying. Carvanas had a lot of firsts. Car vending machines. And now, putting you in control of your financing. At carvana, get personalized terms, browse for cars that fit your budget, then customize your down payment and monthly payment. And these arent madeup numbers. Its what youll really pay, right down to the penny. Whether youre shopping or just looking. It only takes a few seconds, and it wont affect your credit score. Finally a totally different way to finance your ride. Only from carvana. The new way to buy a car. 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. Unfortunately, we are not going to launch today. You are go for launch scrub. We understand and well meet you there. Stuart that was a real disappointment. We were all watching, it was called off 15 minutes before the launch. But lauren, are they trying again on saturday . Lauren they will, at 3 22 p. M. On saturday, theres a 60 go chance the weather is favorable for then. If saturday doesnt work, they try again on sunday. But wow, we were so excited to see for the first time in almost a decade american astronauts lifting off on an american vehicle from american soil and well, well try again on saturday afternoon. Stuart i wonder if the president will go back to see it again. Probably not but i wish he would. Lauren good question. Stuart all right, lauren, thank you. Let me get back to the great reopening and the pace of the reopening and the pace of the comeback for the economy. Stephen moore is with us, economist at freedom works. Youve got data that shows red states growing at a much faster pace than blue states. Democrat states, basically. Which have not opened up very much. Give me the numbers. So what were seeing is not surprising, im sure, to fox business viewers which is that the red states are coming out of this recession much quicker, much more powerfully, than the blue states. I looked at what was happening in four or five big states, i was looking at california, illinois, new york, which obviously are prototypical blue states, then compared them with florida. Florida is doing much better, they are starting to get their jobs back, they have suffered much less unemployment than these other states, and stuart, i got to tell you, im very worried not just about those blue states, but also those big blue state cities. Im worried about whats going to happen to manhattan. Im worried about whats happening in San Francisco. Im worried about my hometown of chicago, which right now, all three of those major cities are ghost towns. Theres no commerce going on whatsoever in those cities, and as you know, they are incredibly important to the national economy. New york, San Francisco and chicago, and others, too, detroit, theres no economic activity. So that is going to hamper, in my opinion, this National Expansion which we want to see. Remember, as cuomo said i believe it was yesterday or the day before, these big blue states account for about 35 of the american economy. Stuart i mean, they will slow us all down. Is there some way that the president could put some pressure on these blue states . Say come on, open up a bit faster, youre holding us all back . Well, you know, one of the great things about america is the system of federalism really does work. Ive got to salute the president. He made a very smart decision on letting the states take the lead in terms of what they want to do in reopening their economies so what happened is your viewers know, right out of the gates, these states like florida and georgia and texas and tennessee opened up their economy, they have been open for three or four weeks right now. By the way, those states have had reductions in their death rates and reductions in their hospitalization rates so they are doing better on the health front than the blue states but they are also doing much better than the blue states in terms of their economy but heres the thing. This is putting pressure, stuart, this is putting pressure on new york and california and illinois and michigan and pennsylvania to get open. Ive got to say this about gavin newsom. Gub novernor of california. Hes starting to open up counties in california, too slowly in my opinion but at least hes going in the right direction. Where is andrew cuomo . Why is new york city still shut down . Stuart yeah. Very good question. We have asked it for a long time. Come on, come on, open up a little bit. Im out of time. You come back soon, please. More of those good numbers. We like it. Thank you. Have a great day. Stuart now, we now know what new york Governor Cuomo was talking to the president about at the white house yesterday. Ashley, it wasnt getting rid of salt, was it . Ashley no. No, he had talked about that before but this was all about Infrastructure Projects for new york, and new york city and even though new york city is still under lockdown, he had a conversation with the president about reigniting, reopening aggressively with Infrastructure Projects and he said he had a good conversation with mr. Trump. Take a listen. It was a good conversation. I think the president also acknowledges and realizes that new york, were very aggressive about getting these projects done and getting them done on time. I have a shovel in the trunk of my car. Well start this afternoon. Ashley so which begs the question why does he have a shovel in the back of his car. Is that new york politics . No, im not going to go there. Anyway, he says look, the projects that he would like thats new york politics. They have a shovel in the back of the car. He wants to do projects like hudson river tunnel for amtrak, extending Second Avenue subway and lord saints alive, finishing off in fast fashion Laguardia Airport refurbishment. Bottom line, no, he didnt talk about salt. He talked about infrastructure. Guess what, new york city still under lockdown so its not going to start any ti