A round table discussion with industry executives so thats happening or about to happen at the white house, well bring you any comments that come from the white house this hour. The major averages are up for the second week in a row. You see the numbers the dow up well over 3 almost 4 in what was a holiday shortened week, the month the dow and the s p 500 up more than 4 a piece and look at the nasdac up nearly 7 , 6. 75 all up for the second month in a row so thats how we close out the month of may at least for trading. Lots of talk about today fox Business Team coverage we have blake burman at the white house, Jackie Deangelis at our news room in new york, Edward Lawrence reporting from washington, blake . We start with you on the north lawn. Reporter hi there, connell and melissa. President trump announcing at the white house several measures against china on the one hand, for chinas handling of covid19 , on the other hand, as well, for chinas crackdown on hong kong; however, as the president was standing there in the rose garden with his seniormost advisors around him the president did not mention at all the trade deal between the u. S. And china, and that remains intact. Still though, some pretty big announcements by the president for example, the u. S. Is withdrawing the entirety of its funding for the World Health Organization, will further scruitinize chinesebased companies on u. S. Exchanges and pullback some of the benefits that hong kong has had with the u. S. , for more than two decades. President trump the United States wants an open and constructive relationship with china but achieving that relationship requires us to vigorously defend our national interests. The Chinese Government has continually violated its promises to us, and so many other nations. These plain facts cannot be overlooked or swept aside. The world is now suffering as a result of the malfeasance of the Chinese Government. Reporter elsewhere today, twitter put a label on this president ial tweet saying it glorified violence, the president writing about those protests that we had seen in minnesota, saying in part, these thugs are dishonoring the memory of george floyd and i wont let that happen just spoke to the governor and told him that the military is with him all the way and any difficulty and we will assume control, but and this is the part that caught the attention, when the looting starts, the shooting starts. Now the president has since tried to explain that last part by saying he doesnt want that to happen and he pointed to the recent example in louisville saying it was spoken as a fact and not as a statement. Connell . Melissa back to you. Connell blake burman on the north lawn of the white house back to the china news with ambassador craig allen, now joining us and ambassador allen ill start as funny as it sounds with your reaction to what the president did not say and then moved to what he did say as blake reported no mention at all of trade today. What did you make of that . Yes, hi, connell. Thank you very much, indeed the word tariff was not mentioned today, and i think that thats why the markets tended up at the very end of the day. We were expecting that and were pleased that no actions were taken that really hurt american firms or hurt the people of hong kong, so while it was a very strong statement, it was calibrated and thoughtful and forwardlooking. Connell you mentioned no actions taken. The most actionable part of the president s statement i suspect is the suspension of the relationship of the termination of the relationship between the United States and the World Health Organization whereas for business interest youre saying what he said about hong kong says they are going to start a process of eliminating some of the exemptions that hong kong has for special treatment and thats not actionable is that your point . We dont really know what that means do we . Thats right. Its not immediately actionable, so the president has ordered the various agencies to look into the relationship with hong kong and consider what might be adjusted, but he did not raise tariffs on imports from hong kong. He did not threaten a 301 and so far as we know, hong kongs status as a separate wto member, with a currency that is separate from china, all remains intact, so the fundamental economics relationship between hong kong and the United States at least so far as i could see today remains intact. Connell for now, right . It leaves open the option for the president to do nothing. He could do nothing right . Well i think that that is true. The president and the administration are in a little bit of a difficult place, in terms of how do you hit back at china without hurting the people of hong kong . There is no intention or wish to hurt companies or people in hong kong nor American Interest in hong kong but thats a difficult thing to do, and so im very pleased that at least thus far, there have been no steps to hurt the people of hong kong and make it difficult Economic Situation in hong kong yet worse, but the administration will study this and no doubt take appropriate steps is in the midterm. Connell do you have any thoughts on the relationship being terminated with the World Health Organization . The president s critics said the timing of this is what worries them and still dealing with the pandemic whatever you think of the w. H. O. , but what do you think of the move . Well, the w. H. O. Plays a very Important Role in helping third world countries the poorest countries to be able to manage a pandemic. It supports them with clinical processes, procedures, advice, and all types of support, and thus pulling out of the w. H. O. In the middle of a pandemic might have unintended consequences for the poorest of the poor, around the world and if so, i would regret that deeply. Connell so it is, again the timing more than the action that worries you . Well the practical effect of pulling out of the w. H. O. In the middle of a pandemic will have an effect on the third world and i would regret that yet more suffering and death among the poorest of the poor. As you know, in brazil and many other countries, they are really struggling and this move will not make it easier for them to deal with this horrible situation. Connell okay good to see you again thats the china news covered today ambassador craig allen with us thank you for your time, melissa . Melissa the former Minnesota Police officer who kneeled on the neck of george floyd before he died has been charged with third degree murder and manslaughter. As violence protests continue in minneapolis and across the country today, the minnesota governor speaking out urging protesters not to lose sight of the real issue at hand. We cannot have the looting and the wrecklessness that went on. I refuse to have it takeaway the attention of the stain that we need to be working on is what happened with those fundamental institutional racism that allows a man to be held down in broad daylight and thank god a young person had a camera to video it. Melissa looting and riots also becoming a major concern for retailers in the area. Jackie deangelis joins us with more. Jackie . Reporter good afternoon to you, melissa. Not to diminish the human tragedy here but just when you thought the retailers couldnt possibly take another blow after dealing with the coronavirus pandemic and all the shutdowns, they are in a tough spot because the protests in minneapolis. The tension is sparking some unrest on the ground there, in other parts of the country as well, so you wonder if some of the retailers are going to follow in the footsteps of target for example, who have to close 24 stores in minnesota because of rioting and looting initially many have actually since reopened nine remained closed at this time but target is just one example of retailers being attacked. One local autozone was looted and then set on fire. Autozone was not alone in this. There were reports of fires at several other chain Stores IncludingNapa Auto Parts and a ups store and a t j maxx store. Small businesses were not spared either. Listen to this man who owns a local jeweler. Its a tough one to come in and see what started years ago and now its just complete devastation, just like a hurricane came through, and busted every piece of glass there is and all nice cases and probably not another store around like it and i dont even know if we can rebuild Something Like this. Reporter you build a business, only to be hit by the pandemic and face shutdowns and then in that tragic instance, to deal with this issue as well. So its been tough, but precautions have been taken outside of the twin cities as well, the mall of america in bloomberg, minnesota announcing that ill will be stopping all curbside pickups for the time being and restricting access to the mall as well, and one suburb , maplewood, its Police Department asking people to avoid all Retail Centers until further notice. As i said this is all coming during a time when our country is in crisis, dealing with the coronavirus pandemic, and according to the city of minneapolis, ill leave you with this they received over 1,200 Small Business applications for forgivable loans so certainly struggling there, and trying to get back on their feet guys. Melissa absolutely jackie thank you. Connell . Connell we shift to the Federal Reserve chairman Jerome Powell he said earlier today a full economic recovery is contingent on Consumer ConfidenceEdward Lawrence joins us from washington with much more. Edward . Reporter yeah, the Federal Reserve chairman Jerome Powell saying they actually crossed red lines when responding to the economics related to this pandemic and economic response one of the red lines is lending directly to companies, another red line is lending directly to state and local governments and new the Municipal Liquidity facility is up and running and the fed chairman says the main Street Lending facility will give out money within days to companies. Here is why he says they have to do it. Listen. Everything we do, everything we do is focused on creating the environment in which those people will have their best chance to keep their job or get a new job and if you go back to their old job if they have been furloughed. Reporter and powell in his zoom discussion with princeton university, now hes watching the travel numbers, airlines, hotel stays, as an early indicator for the recovery in his mind, it boils down to competence. I would worry almost more that a second outbreak would undermine confidence. A full return to, a full recovery of the economy will really depend on people being confident that its safe to go out and safe to engage in a broad range of economic activities. Thats how the economy will recover and you see people testing the limits now. Take a second wave to be, it would really undermine Public Confidence and might make for a longer, a significantly longer recovery. Reporter and the fed chairman saying that hes going to watch the data closely as its Going Forward there. I talked with two fed president s over the past two weeks both of them say that the third and Fourth Quarter will be very big growth numbers, just not as big as the losses weve seen in the second quarter. Back to you. Connell all right, Edward Lawrence, live in washington for us. Thank you, sir. Melissa . Melissa big misses fighting back and President Trump is meeting with industry executives at the white house on reopening the u. S. Economy. Well bring you any headlines from the president this hour. Plus, forbes is now revoking Kylie Jenners title of youngest ever selfmade billionaire, were going to tell you all about that one, next. 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. [ siren ] doug give me your hand i can save you. Lots of money with Liberty Mutual we customize your Car Insurance so you only pay for what you need only pay for what you need. Liberty. Liberty. Liberty. Liberty. Staying connected your way youre just a tap away from personalized support on xfinity. Com. Get faster internet speeds with a click. Order xfi pods to your home in a snap. Or change your Xfinity Services with just a touch. All in one place. Youre only seconds away from all of that on xfinity. Com. Faster than a call. Easy as a tap. Now thats simple, easy, awesome. Connell we have a fox business alert and Walt Disney World and sea world officially receiving a state approval for their reopening plans in florida. Sea world will reopen to the public june 11, disney world begins a phased reopening july 11. Thatll be Magic Kingdom and Animal Kingdom and then epcot and Hollywood Studios come online on july 15. Now guests and cast members will be required to wear face cover ings, and then things like the parades and fireworks and other events that would draw a large crowd those events will temporarily be suspended. Melissa . Melissa all right, revoking her status Forbes Magazine taking away Kylie Jenners title of the youngest selfmade billionaire accusing her of forging her tax returns. Christina partsinevelos joins us with the latest, christina . Reporter in 2018, forbes shock ed everyone when they said that kylie jenner was the youngest selfmade billionaire to ever make the list but like you mentioned they are now accusing her of inflating her personal wealth as well as forging tax documents to reach a mega money mileston so this was a lengthy and scathing feature published today by forbes and theyre claiming her company, which is Kylie Cosmetics, is much smaller and less profitable than she led on; however theres a big however. The articles tongue was uncertain and i quote, this is a line from the forbes article. While we cant prove that those documents were fake, though its likely, its clear that kylies camp has been lyin kylie jenner has many of us already know shes the youngest and wealthiest member of the kardashianjenner clan and started her makeup loon by selling these 20 lipsticks and grew that into the Kylie Cosmetics company that it is today. Last year, she sold 51 of her company to a beauty conglomerate named coty for 1. 2 billion. Forbes claims that even after she received 340 million in aftertax revenue from that sale , shes no longer a billionaire. Of course kylie and her camp arent taking this lightly. Her attorney michael cump is demanding a retraction from forbes calling reporting un equivocal false and jenner is responding on social media tweet ing even creating tax returns that were likely forged thats your proof . So you just stopped they were forged . Like actually what am i reading . Forbes, now claiming their new calculation puts her personal wealth at you know, just shy of 900 million, which means shes still the wealthiest car dan crash jenner Family Member at age 22. Back to you. Melissa connell . Connell who writes the words in a tweet . Here now on to something we actually like actually care about, in less than 24 hours, spacex and nasa are going to try it again, their second attempt to launch two astronauts into space, but look at this , one side of your screen you know why were showing that the weather could put history on hold once again so well talk about that when we come back and any minute from the white house the president is going to start that meeting with industry executives about reopening the economy so any headlines that come out of it once it begins we will bring them to you we will be right back. Dolph lundgren, youve got a onesixty i. Q. , a masters in Chemical Engineering and youre technically a genius. 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Connell here is a fox business alert on when we might get basketball back the nba commissioner reported he had a Conference Call this afternoon and told the leagues governors that the nba set a target date of july 31 to resume play, thats coming from a report in the athletic that theres been speculation the last couple weeks the league would get together and play their games in orlando at the wild world of sports but this s