Standout. Take a look, the nasdaq closing above 10,000 which is a now record high, the other majors under pressure. Ordering food delivery. Grubhub to be acquired by European Company leaving uber empty handed. Grubhub soaring this morning, almost 50 7 rather on grub hub. Dont miss that. Valuable insight. President trump headed to dallas to talk Police Reform as protestors continue to take to the streets across the country. We have all the latest happenings coming up. The next jobs in america, with more people working from home the cyber threat is growing. The growing demand of cybersecurity. Mornings with maria is live right now. Maria and Global Markets this morning are under pressure, take a look at burpan indices selling off the morning, ftse 100 down 122, cac quarante down 101 and dax index down 244 right now. In asia right now its red across the board, we will bring you all of that coming up. Oil prices are also sliding this morning along with stocks. This, of course, indicater, some of the top stories confirmed covid19 cases in the United States now surpassing 2 million as several states have seen a surge in new cases recently. One of those states arizona has been told to fully activate its emergency plan. The cdc warning of dramatic spike nationwide. A new report shows the number of daily infections in the United States is up about 36 . President trump headed to Dallas Church today to talk Race Relations and Police Reform, comes on the heels of emotional testimony from George Floyds brother on hearing of Police Reform. Im asking you is that what a black man is worth, 20 . This is 2020. The people elected you to speak for them to make positive change, georges name means something. You have the opportunity to here today to make your names mean something too. Maria and as calls grow to defund the police the sister of a protective Service Officer killed during riots says it would be wrong. It is a ridiculous solution to proclaim that Defunding Police departments is a solution to Police Brutality and discrimination. Nowhere in the nation to remove safety net that every citizen deserves from american officials. Maria republican and democrats working to pass legislation on Police Reform. We have the latest coming up. One of the fired Police Officers charged in the death of george floyd out of jail on bond, thomas lane posted 750,000. He was released from a minneapolis county jail yesterday with conditions. Lane along with 3 other officers charged with aiding and abetting seconddegree murder. His next Court Appearance on june 29th. A Prosecutor Says remains found under property of cult mom vallow are her missing children. Chad will be back in court. Jj vallow and kylie ryan had been missing since september. Martin, jr. , picking up first win of the season. Bubba wallace coming in 11th place, first africanamerican driver on top cur circuit in 25 years. Sharp selloff underway. Futures indicating a decline of better than 400 points after the Federal Reserve expects to keep Interest Rates near zero through 2022. The central bank predicting gdp will contract 6 and a half percent this year. Sees unemployment, second coronavirus wave as some states see jump of confirmed cases after the reopening and also leaving investors skeptical of quick economic recovery and thats why we see market tumbling there morning. Chief investment officer, steven, along with Dagen Mcdowell and mark tepper and Kristen Soltis anderson. Steven, let me kick it off with you, your reaction in the Federal Reserve . Probably positive, maria. We agree with them that its a ushaped recovery and thats why we have been scaling back on equities, we are still overweight because we thinks 11, 24 months from now the markets will be substantially higher. Weve come a long way fast. Theres a lot of chopping of wood ahead here, the process has created destruction thats not going to make a perfect recovery but netanyahu we are moving forward. I like the fact that the fed remains vigilant. Its like when we invest in companies, i like management teams that are worried. I would rather have one thats worried than overly optimistic. Maria it was no surprise that Interest Rates will stay low for a couple of years, we were talking about 2023 on this program which is what Cornerstone Macro has been saying. Are there negative impacts from rates where they are right now . Is that something that markets are unnerved by . I dont think, maria, as long as we dont go negative rates. I dont think the fed is inclined to do that. In fact, the easier they are near term, the least likely that is. Negative rates i think would be very negative as it has been in europe and japan but he didnt talk about that at all. What was different about yesterday, maria, he did actually state the guidance and youre right, i think most market participants, at least we have been thinking that as well and you have on your show, you know, unlikely to raise rates soon. In a way not a surprise. It was a debate whether they would begin restating guidance like that he did yesterday. Maria that was one of the changes. Mark tepper, jump in here . Mark yeah, so the fed will stay accommodative for a long time. Looks like they are trying to fight deflation. They will be there to backstop the economy. The stock market needed a breather anyway. It was at most over level in 30 years. You have seen catchup and in the last 3, 4, 5 days the worst performers. This shouldnt come to most surprise of most people. Its going to take a while for the economy to get back a whole, i mean where we were in 2019. If you thought it was going to happen this year you were overly optimistic. I think its going to take to 2022 for earnings to get back to where they need to be. Maria yeah, this is an important point that youre making, mark, what about that steven, because as valuations have continued to creep up no sign of retreat for the nasdaq. We had another record high yesterday. Nasdaq finished above 10,000 yesterday for the First Time Ever driven by Technology Stocks like apple, amazon, microsoft, they all closed at new highs as well. Steven, lets talk about valuations here and the issue that maybe we are seeing a pullback because of where we are in this market. Weve had a meltup even as things have been tough for the economy and with this pandemic. Thats true, maria. I think people get that. If you look at just the average, you kind of miswhats going on underneath the cover. Some of the Big Companies that youre mentioning, they have been growing earnings and revenues through this pandemic and are in a way their Competitive Position has been enhanced by corona and post corona world that we are now entering and theyre not cheap. They moved a long way, we get that. We are maintaining our core positions there, no, i wouldnt be adding to them right here. They certainly are good for some consolidation. The thing thats more interesting to us in the market right now is to play in those survivors, the ones that are going to make it through but theres a lot here because as you say matter of when the economy gets back to trend earnings, weve got it Fourth Quarter of 2021 which may be more optimistic than some, but its not today, thats for sure. Maria so so real quick on the last quick, stephen, let me ask you about the new spike we are seeing. I was on the phone with somebody in washington. We have to wait 2 weeks. We have to wait for the rioting and looting and peaceful protestors standing next to each other all across the country is going to mean a spike in cases. We will watch that in the next 1 weeks. We are not at the intubation period yet. Are you worried about things taking a step backwards . Look, i think we have to expect theres going to be a spike. Not just a demonstration. The americans have been out and about the last several weeks in a lot of states so we are going to see a spike. We are going to see a rising trend. I think whats making people comfortable is mosaic of solutions that seem to lesson the risk that if i get this thing im im heading to the emergency room. Those things together, the treatment protocols, the vaccine on the way, the better distancing, we will see, but its certainly another reason to be a little bit cautious here near term because we will certainly see a spike as as people get out and about. Maria all right, we will be talking about that in the next segment with the chief scientists at j j. Stephen, great to see you, you have been bullish and you have been right. Stephen auth, we are Getting Started this morning; a lot to come, coming up Johnson Johnson scientific officer on new efforts of coronavirus recovery. Andy mccarthy who says charges for attorney general Michael Flynn should not be dropped. You dont want to miss that with a lot of changes coming up. In the 8 00 a. M. Hour this morning dont miss chairman of iac barry dillar. And patrick reed to talk reeds cancer cure which used new experimental drug, big show coming up here. Quick break and next jobs in america, the country seeing rise in cybersecurity professionals if you work from home, plus work it out dance style, Youtube Influencer using dancer teams to keep fans in shape. You have to love that. We will be right back. 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Thank you very much for joining us, can you give us status check on where you are in terms of those trials for a vaccine . Yeah, we announced yesterday that we would be able to accelerate trials, phase 1 studies to start somewhere midjuly, thats with the fact we had better outcome in clinical studies, so that is now by the second half of july we should be going on Clinical Trials. Maria that is just wonderful news, sir. If the vaccine is successful there may be some struggle getting enough doses, right, convincing people to take it, a poll released yesterday by fairly dickens university more than a third of adults would not likely take the vaccine if available. Dr. Stoffels, how does Johnson Johnson plan to get to as many people as possible and talk about distribution, do you need to scale up distribution in order to get the vaccine widely available . We are scaling up already now, escalating manufacturing plants all over the world in order to reach next year up to a billion vaccines and even later, many more serving the entire world so that might be in the billions and by the way we have large Distribution Center as j j. We can bring the product to every part of the world but then, of course, collaborating with the Healthcare System in each of the countries and specially in the u. S. On making sure that the vaccine reaches every corner, every pharmacy, every vaccination site in order to make sure people can get access to it, and that will take large effort and collaboration with the Healthcare System. Maria tell me about the vaccine because your vaccine platform has been used to develop candidates for ebola, hiv, zika, the platform allows vaccines to be shipped and stored at temperatures that the u. S. And Global Supply chain can handle. What else can you tell us about the vaccine for covid . The vaccine for covid has been extensive study for animals. And we have seen very good immune response in animals. We have seen that several times where like you said the different vaccines we have developed we go from lab to animals and lab to humans. It was predicted that what we did for animals was predicted for humans. We have a high likelihood that we can come up with a vaccine. The question is Clinical Trials have to show whether its protective or infection and disease as well as safe. We have vaccinated so far 65,000 people in all the studies with all of the vaccines and the vector, the vaccine has shown to be safe. We are confident that we can get the safe vaccine efficacy needs to be proven. Maria what are your thoughts about reopening the economy having produced spikes in certain corners of the country . We thought we were on the way down but now we are seeing spikes across the country. Does this concern you, dr. Stoffels . It concerns me the number of people that are antibody positive are quite low. We have expected that many people would have gone through this. Significant risk for large part of the population, therefore, people have to keep discipline in how they go out and how they meet with friends and meet in restaurants. Discipline is the message here, how to behave in this new post covid period to avoid that theres a new pandemic or new significant and such. Maria when will you be manufacturing the vaccine . We are manufacturing in the u. S. , holland at the moment and europe, we will have manufacturing plans in asia and spread manufacturing to all of the regions where the vaccine will be needed. Maria terrific, great news, we love having you this morning, we will keep watching the development, thank you, sir. Dr. Paul stoffels joining us this morning, chief scientist at Johnson Johnson. Quick break, happiest place on earth, disneys reopening plans and when you can actually visit. Stay with us, thats coming up. 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. Maria welcome back, nascar announcing it is banning the Confederate Flag at racing events. Confederate flags hat been common sight at nascar. The presence of Confederate Flag on events this coming amid protests of george floyd, Dagen Mcdowell, your reaction. Dagen good, im glad nascar banned the flag. Nascar discouraged people from bringing Confederate Flag to races years ago, but this flag is a war lost thank god. So, yes, spare me the arguments about what the flag really means, i know exactly what it means, it means pain, it means anguish and embarrassment and the most shameful of the pages of the history of the United States and thats no small achievement. In the years and decades after the civil war the flag became the banner of hate groups. This is a flag for museums and flag for history books and a flag and a period in our history, horrific period to be studied, but if some racing fans enjoyment of nascar and their enjoyment of a race is somehow tethered to flying this flag, then you were never a racing fan to begin with. This only opens the door to more fans and people who can look at the sport and not be offended by what they see in high def on television and when they go racetrack. Maria im glad you said its to be studied because lawmakers are also speaking over confederate symbols, statutes, House Speaker nancy pelosi calling for removal of 11 statutes with ties of confederacy inside the United States capitol building. President trump will not consider renaming military bases after mark esper expressed openness after renaming bases named confederate officers. Kristin, what do you think about this . I wa