Transcripts For FBC Mornings With Maria Bartiromo 20240713

Rally yesterday dow futures are now down. Nasdaq futures lower by 64. Nasdaq up 190. Now this, former Vice President joe biden and the ukraine scandal back in the spotlight, an investigation Just Launched overseas after phone conversations between biden and then ukraine president are released. Meanwhile u. S. Senate taking a major senate in probe of Hunter Bidens role of Barisma Holdings and tesla tapping the brakes in battle with california, dropping the lawsuit after plant is allowed to open. Mornings with maria begins right now. And Global Markets this morning red cross the board, take a look at european indices as u. S. China tensions rise, the cac quarante is down 48 and dax index in germany lower by 174, there are sign that is the european economy is slowly coming back. The euro zone purchasing manager index coming above expectations this morning. In asia overnight, markets mostly lower. Take at the numbers in asia, worst performer half percent lower shanghai composite in china. More than 328,000 people have died from covid19. Largest outbreak in the United States with more than 1 and a half million confirmed cases now and more than 93,000 deaths, despite rising numbers all 50 states have opened in some form this week. Nearly 300,000 people have recovered from the virus in the United States and nearly 2 Million People have recovered worldwide. Hundreds of doctors sending a letter to President Trump outlining the growing health risk of not reopening the country calling it a quote, mass casualty incident. The letter reading in part the millions of casualties of continued shutdown will be hiding in plain sight but they would be called alcoholism, homelessness, suicide, heart attack, stroke, or kidney failure. The doctors letters comes amid protests of when and how coronavirus restrictions should be lifted across the country. President trump has not responded to that letter just yet. President trump heading to a key battleground state, michigan, all part of National Tour to thank businesses helping during the coronavirus pandemic. The president has been critical of governor whitmers handling crisis in michigan. Hundreds of thousand of coronavirus cases in the country than previously expected. No surprise there. The leak from the Chinese Military university indicates that the country could have had more than 600,000 tote tale total cases. Beijing denying coverup. The World Health Organization with increase in one day. President trump tweeting this, china on a massive Disinformation Campaign because they are desperate to have sleepy joe to win the race. Writes the president. The rain putting a damper on nascar second race. Toyota 50 was cut short with 20 lapse to go. Danny hamlin, kyle busch spinning out. Elliot as he pushed for the lead, elliot giving him the bird when he circled back around and busch apologized. What a race. Markets lower ahead of jobless claims report thats due in 2 and a half hours, market under pressure, dow futures down 185, s p futures down 23 and s p futures down 54 as more earnings come out, 2. 4 million americans to file unemployment bringing the total number since the shutdown began to nearly 39 million, thats in about 9 weeks. Joining the conversation this morning the economist lindsey along with fox business dagen mcdowell, Washington Examiner columnist and republican pollster Christian Anderson and forbes media chairman and former president ial candidate himself steve forbes, great to see everybody. Dagen great to see you. Good morning. Maria lindsay, lets kick it off with you, how much of this bad news is price intoed the market, what do you expect . We could see another 2 or 3 million americans filing for first time Unemployment Insurance. The market that is already anticipated the increase but its a reminder of the dire economic scenario that we find ourselves in as a result of the policies forcing businesses to remain close for weeks and workers to remain in their homes. Every time we do see this type of disappointing Economic Data it does take a toll on the market but, again, most of this is already priced in. We also heard from the Federal Reserve yesterday talking about the extraordinary contraction expected in the Second Quarter and this mornings numbers is another reminder that we could see another 30 drop in gdp. Maria yeah, 30 contraction, pretty steep, steve forbes, what do you look for, whats most important, steve . Steve whats most important is creating an environment where the economy can recover. Thats why its good the states are opening up, especially the good moves in dc, florida, georgia, colorado with democrat governor and elsewhere and also you focus about what congress is going to do with lack of loans to many small and mediumsize businesses and whats ultimately going to come in a bill from congress. I know the gop is saying they will slowwalk the thing but a bill will be passed and would we get liability immunity in it and will there be some sort of holiday on payroll tax which would be stimulative in the economy, job creation and increasing worker pay. Maria youve called it 7 raise. When i spoke with the t he the president , he seemed to be on board, lindsay, what do you say the view of all of this stimulus has been, youre talking 10 trillion when youve looking at whats coming out of the congress and Federal Reserve and leverage there. Absolutely. I think theres no doubt that something needed to be done. We needed to see unprecedented support for the u. S. Economy as we just talked about nearly 40 million americans filing for Unemployment Insurance but theres a balance here, we have to make sure that we leave the economy in a position where we can reach productive capacity in the longer run. Right now we are concerned that valuable resources, savings, income are being depleted and in some cases extinguished leaving us at a very depleted level in terms of being able to get the economy back on track, so we want to make sure that we dont use too many resources put on too much debt for the u. S. Economy leaving us in a crippled position longer run. I know the Federal Reserve chairman said this is not something that we want to be concerned in the shortterm but something that we want to be concerned about on a rainy day. Unfortunately we were strapped with massive amounts of debt, now we are talking about layering on trillions more of debt and the u. S. Economy may be in a crippled position when we emerge from the pandemic. Maria yeah, well, the amount of debt right now, 12 trillion is actually higher than the overall size of the economy. You mentioned the fed minutes expressing concern that the coronavirus is posing Severe Threat in the economy, Officials Say its more uncertainty to come as the economy recovers and jay powell will speak again later today, but the severe contraction that he talked in the Second Quarter, thats what we, lindsay, do you think we will see growth in the Third Quarter . We could see an uptick in in gdp but i caution a vshape recovery as we are likely to see negative growth emerge by the end of the year because of lingering restrictions on the consumer, be health fears and we could see downturn if we see flareup. Maria well, thats the worry, right, jump in here, kristin, because if we were to see a comeback in the fall, we are sort of back to square one, arent we . Kristin we are, we still see in poll that is people are very worried that they or a loved one will get coronavirus. The fear is still out there. Even as states begin to reopen and people begin to test the waters in going back to restaurants, et cetera, folks will not board an airplane if they are word that they will get the virus and the fact that we have gone 2 months and people dont feel confident that we are beginning the begin test, trace capabilities we may not see the economy come back in full force very quickly as long as that fear still exists. Maria all right, we will leave it there, we are waiting on best buy, tjx, we will bring the numbers as soon as they hit the tape. Another window of whats going on. We are just getting started, florida congressman and retired Army Lieutenant Michael Wolff is here on the senate vote to delist Chinese Companies or force them to follow u. S. Law and former atlanta Federal Reserve president Denise Lockhart joining us on markets an initial jobless claims, you dont want to miss that, at 8 00 a. M. Hour, harvard law professor Alan Dershowitz on Michael Cohens release from prison and then money Waters Capital founder carson block on his new short position, another Chinese Company that he says is a proud, dont miss that and the head of xbox gaming, phil spencer reaching new heights during shutdown, dont miss a moment. Big 3 hours coming up. Former congressman darrell issa, thats all right here coming up and the lawsuit drops, teslas chief elon musk dropping his case against the california county over his plant shutdown, plant is opening up next steps ahead, stay with us. Can my side be firm . And my side super soft . Yes, with the sleep number 360 smart bed, on sale now, you can both adjust your comfort with your sleep number setting. Can it help me fall asleep faster . Yes, by gently warming your feet. But can it help keep me asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both comfortable. So you can really promise better sleep . Not promise. Prove. Save 1,000 on the sleep number 360® special Edition Smart bed. Plus 0 interest for 36 months free premium delivery when you add a base. Ends monday. Maria welcome back, former Vice President joe biden back onto microscope this morning, ukraines president calling for an investigation into leaked phone conversations between biden and his predecessor linking american aid to removal of a top ukrainian prosecutor. Meanwhile the Senate Homeland Security Committee has approved a subpoena, subpoena power over a Consulting Firm linked to Barisma Holdings, Ukrainian Natural Gas Company where hunter biden served on the board. Joining me right now former california candidate darrell issa, congressman, always a pleasure to see you, great to see you, darrell, thanks for being here. Darrell thank you, maria. Maria whats your reaction, a new look into potential wrongdoing of hunter biden and his ties to ukraine . Darrell you know, maria, with far less evidence i supported an independent prosecutor to investigate the allegations against President Trump and i did so because the American People need to know that a candidate or an elected official of either party is free of corruption. In this case, we heard, we read the transcript, weve seen that there was clearly a quid pro quo that benefited his son, quid pro quo where almost almost a billion dollars worth of funding was at least, you know, loan guaranties were held up against a specific action that benefited his son, that certainly begs to be properly investigated and independently done so. Maria and why do you think this is happening now . Darrell well, because the Vice President has hid it, because the Vice President has pushed against it. Hes kept this thing, hes made denials and only now did a transcript that we didnt have, we the United States didnt have has become public, but, you know, maria, jim jordan and others have asked for information that does exist at the state department and gotten almost none of it. Most of it is showing that the state department was always uncomfortable with president obama giving a very unusual thing, giving the Vice President two portfolios, china and ukraine, odd choices, but both ones which son biden had a financial benefit. Maria thats unbelievable. Just that alone should have sparked an independent investigator to look at this year ago especially when he knew that hunter biden flew on air force 2 with then Vice President joe biden and then came home and actually collected 1 and a half billion dollars for hedge fund from a chinese chain which is state owned. Well, exactly. This is what upset the state department records. I have full confidence that the state department shows career professionals and some some of e politicals were concerns that this would be concerned to be exactly what this is, a scandal of pay to play. A scandal in which the Vice President was funneling money to his family in large amounts. Maria unbelievable. All right, let me turn to Michael Flynn this morning, darrell, the top democrat on the intel committee, senator mark warner is asking the director of National Intelligence rick grenell to declassify conversations with russian former ambassador, your thoughts, lets walkthrough this one now. Darrell maria, the important thing is that anything that can be declassified, of course, he should but as you know much of what might have been spoken about should be essentially redacted but i certainly would support along with other republicans appropriate redaction and im sure that rick grenell who has been an ambassador and thoughtful would look for what he can declassify. This is one of the things that the Trump Administration has been doing that i think is positive when possible they are declassifying documents but understand just because a small amount sounds good, doesnt mean thats the only thing we should hear. Maria the other thing is, this is this was the incoming nsa director, so hes having a conversation with ambassador to russia, that in and of itself, to me, i dont understand the issue. Hes the incoming nsa director, of course, hes going to have conversations with with others going he was a couple of weeks away from the job, right . Darrell well, here we have a decorated 3star general with impeccable record of defending his country and holding his clearance without any blemishes and on inaugural day, susan rice, great blemishes, including the lies of benghazi, you have her plotting with comey, im sorry, comey, and actually as they say they have no evidence, they are still making an issue over the very fact that he had, quote, several communications. That kind of go look for dirt, see if you can get it, continue tapping is what flynn dealt with that ultimately candidly was the unfair attempt to take him down, this is part of it. Maria they follow that up with an ambush at the white house when he was a sitting nsa, darrell, thank you very much for your insights. See you sir. Coming up biden gaining ground. A new poll give it is presumptive nominee a Comfortable Lead over President Trump. We will show you the numbers. Shooting hoops in the happiest place on earth. 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And when its time to come back, well be ready. Maria welcome back, 2020 vision new polling from Quinnipiac University shows joe biden strengthening his lead over President Trump. The survey shows that the former Vice President 11 points ahead of President Trump nationwide. 50 to 39 . The poll also asks voters if they approve of the president s response to the covid19 pandemic. 41 say that they support they support him while 56 do not. Kristin, your reaction to all of this . Kristin so i took a look at this poll, this is one thats been showing slow erosion of trump support over the last couple of months and i wanted to figure out what groups are shifting here and the findings around generational divide are extraordinary here. For a long time republicans have been losing younger voters, doing great with seniors, in this poll biden wins 51 of young voters which is actually less than i would have expected for the youth vote but hes also winning 51 of seniors and including 51 of those aged 50 to 64 which has been trumps best group so far, so the bidentrump contest has wiped out a lot of the generational divide but means trump has to do better with Senior Citizens if he wants a shot in november. Maria yeah, its also really contingent upon handling of covid19, right, dagen, lets show the New York Post headline and the New York Post cover today where you have a plea to open things up in new york, dagen, you tweeted about this, its great cover and it basically tells you what people feel, it needs to end now. President trumps leadership in terms of the shutdown, getting the economy back will certainly be a big factor come november, what do you think, dagen . Dagen this is how so many people across the country feel whether they are red or blue, right or left, they want their businesses reopened and nobody can give them answer as to why a walmart and a target and amazon are flourishing during the pandemic and the fight, but other businesses have basically been put out of business. I wonder number 1, if this is going to be a vote for government or against government because quite frankly a lot of the leaders especially blue states have no idea what theyre doing. You had cuomo and his death commissioner sending elderly people sending people back into Nursing Homes after they had had coronavirus and they werent allowed to test them, the Nursing Homes werent and he now, cuomo is trying to shift the blame back to President Trump and saying, oh, well, we were just following crump cdc guidelines, all of the local officials will have to answer to that. One of the issues that will help biden is bernie sanders, he has teamed up with sanders, announced 6 Unity Task Force last week on climate change, criminal justice, the economy, really leaning left there, the reason is that in 2016, 216,000 bernie voters in the spring flipped to trump in the fall, in wisconsin, pennsylvania and and michigan and that was more than double the number that it took trump to win those states. So biden has his eye on those bernie voters. Its critical to victory in november. Maria all right, we will watch them too, the bernie bros, we will take a break, when we come back, have you heard this one, boston dynamics robot dog working hard in the field, we will check it out when we come back, stay with us. Every Financial Plan needs a cfp® professional confident Financial Plans, calming Financial Plans, complete Financial Plans. Theyre all possible with a cfp® professional. Find yours at letsmakeaplan. Org. Of all the places youre looking forward to where will you go first . Wherever you may go lexus will welcome you back with exceptional offers on exceptional vehicles. Get zero percent financing and make no payments for up to 90 days on all 2020 lexus models. Experience amazing at your lexus dealer. Maria welcome back, good thursday morning, thank you so much for joining us. Im Maria Bartiromo, may 21st, tensions continue to rise between the United States and china. The senate has passed a bill that could force Chinese Companies to exit u. S. Stock exchange. We will tell you all about it. Meanwhile today we are getting another look at the impact of coronavirus is having on jobs in america when we get jobless claims report at 8 30 a. M. Eastern. Futures are pointing to lower open this morning. Take a look at stocks, s p futures down 17 and nasdaq futures lower by 50, this after stocks rally big time as all countries open for business. Yesterday the dow industrials up 369 points at 4 00 oclock on wall street. Nasdaq up 190 and s p 48 at the close. Deplorable markets this morning, more red than green, youre looking at u. S. China tensions really nerving vestors, cac quarante in paris down 44 and dax index lower by 48, there are signs that the european economy is slowly coming back. Managers index came above expectations. Asia markets overnight, fractional moves across the board. Only winner the kospi index in korea up almost 1 and a half of 1 , meanwhile now this a gunman opens fire at arizona Shopping Center in one of the first public shoot negotiation the United States since the start of the coronavirus pandemic, Cheryl Casone with the details now, cheryl. Cheryl thats right, maria, good morning, at least 3 people were hurt in this, one critically after the gunman opened fire last night at a popular outdoor mall in the phoenix suburb of glendale. Social media videos appearing him firing inside. Tesla dropped lawsuit on alameda county. Musk reopened the factory despite the shutdown order. Shares of tesla lower in premarket. Here is a look at what is trending on foxbusiness. Com, americans are arrested, son accused of helping carlos goshn flee japan. The next headline jetblue extends coronavirus empty middle seats to july, the extension connection safety from the ground up and finally the nba reportedly eyeing disney world for post coronavirus season restart. The resort is in advanced talks to host every single game when sports comes back, thats all that really matters, back to you. Maria i like it. Cheryl, thank you, we are relooking at opening casinos, hotels, mississippi is joining, arkansas, louisiana and other across the country inching back into normalcy. Covid19 testing started for thousands of employees, joining me to talk more about the former chairman and ceo of cesars entertainment as well as ceo gary loveman. Thank you very much for being with us. Pleasure to be with you, maria. Maria how do you see the reopen taking place, do you see the inperson gaming industry bouncing back quickly . I see it bouncing back a bit. I think it has systematicages that it will have to address particularly in las vegas. The results have been encouraging as the industry is comparing weekend activities since the reopen than a year ago, im told the volumes and the activity of businesses is quite robust, the challenges comes in the weekends and busier when its full and active, initially that wont be allowed in opening provision. Maria, whats interesting about the pandemic is people have been subjected to the notion that other people are a threat to their wellbeing, weve all been helpful to keep our distance and maintain our safety by not being around lots of other people and, of course, the old adage is that theres nothing sadder than a rather empty casino, we want a very busy place and we want a busy nightclub and concert hall and restaurant so the challenge is the degree to which people that have been traumatized by the experience of the left two months, 3 months are willing to begin to reassociate themselves with crowded places and be in the company of lots of others whether its on the airplanes to get to the location or in the location itself. Maria yeah, i want to get your take on how things might look different because this week we spoke with the former ceo of wynn resorts, the founder, steve wynn was here and he outlined out the vegas casinos planned to convince customers that its safe to come back in and gamble. Listen to this. I have to get your reaction. What are the plans right now . I know that they have having separation of the tables even having some barricades, clear plastic barricades theyll be using, gloves, theyll be using masks, they will take peoples temperatures, theyll use all of the common sense defenses that have been promulgated for the public by the government. Maria yeah. So gary, what do you think, do you think the precautions are enough, the plexiglass is big use across the country, everybody is put up plexiglass. You can see that all of the protections are in play, you see dealers with plastic, protection of faces and you see people in protective gowns, gloves, the whole ppe kind of apparatus and i think you will see that in all of the casino locations particularly in las vegas. The challenge is that the imposition of the procedures is going to limit the number of people that you can have in these facilities to a fraction of what they would be on weekend or busy holiday. Maria thats true. Thats a really good point, steve forbes, its also about confidence, right . All of these things is to try to increase confidence so people actually do go out and spend money. Steve thats right, gary, im interested in your views of Convention Business which is a mainstay of las vegas especially with consumer electronic show in january, do you feel how long is it going to take for businesses and trade associations and the like to feel comfortable about having real people, real gettogethers in las vegas and elsewhere . I cannot imagine executive at a Large Company going to their boss and suggesting that that would be a great time to bring customers or their senior people to a large convention or exposition in las vegas. I think the business will be flatlined until a vaccine is in place and people can feel confidence that responsible action to convene in large numbers in a place like las vegas. Maria whats the longterm impact, gary, of the shutdown, we showed the cover of the New York Post today where one mans plea is to please give him his livelihood back by opening up the city, your thoughts on what the shutdown will do longterm in terms of damage to the economy, some Small Businesses arent able to make it through. Gary well, i think theyll be definitely an effect with respect to the business population. I think businesses that were weekly capitalized that have poor liquidity heading into this event are likely to be thinned out as does period in which they can generate sufficient revenue to cover their cost is going to be very difficult for considerable period of time going forward. I mean, i think the critical difference here unlike natural disasters weve had in the past, people for 2 and a half months have been listening to the notion that other people are a threat to their health and they need to stay clear of that and protect themselves by not being in crowded or dense places and for the Hospitality Business whether thats casinos, hotels, cruise ships, convention centers, thats a very tough argument to get over for a portion of the population that continues to be affected by that type of fear, substantial portion of the population after the recent event. Maria yeah, understood. Gary, we will see you soon, sir. Coming up getting the garden state back on track, group of Small Business owners in new jersey are out with a plan to reopen the state, we will tell you what their ideas are, and then get your flirt on, tips to mastering your love life making a buzz this morning, wait till you hear this, stay with us. Want to stream thousands of movies and tv shows for free . Okay, showtime turn it up tubi has you covered. Were gonna celebrate yes tubi. Watch now. Maria welcome back, group of new jersey owners are pushing the state to reopen. Unlock new jersey, organizing a plan to reopen the state Small Businesses responsibly, joining me right now rowe city owner, tell us about the unlock new jersey plan. Good morning, maria, what an honor to be with you, youre a credit to business and your heritage, so bless you. I worked with the a coalition to maria thank you so much. To unlock the golf courses through my connections, ive been involved with golf since i was 10 and that was fine and all of a sudden the governor decided to, you know, no more golf which i guess it implied fishing which is the most distancing sport you can ever imagine. I accomplished that and then i said, gosh, i have to go to work, im focusing on playing golf leisurely but we have to work here and, you know, i have bills to pay and i made a few phone calls to represent, tax attorney, rosemary becky, fda head, shes northeast head of the fda Kristin Maria to try to gardner support on this. Tell me about the meaning of the spare or virtual keys because we are trying to get a sense, joseph of how damaging a shutdown is to a business like yours, what kind of revenue decline would you expect and how do you get that back. The longer youre shut down the worse it is for the community. Its bad for the community. We went from we lost mothers day which is in the jewelry industry key holiday, god bless women and moms. I looked at my sales tax return yesterday, maria, from december, january, february and march, we are not only losing, i dont know how the state will ever get out of it. Its 16 times less in april. I mean, 16 times. So i dont know how the state of new jersey is ever going to get out of this unless we allow Business People to operate safely. We are the problemsolvers, washington for the most part, i think the president did great, great day to make it regional and we need to have a fraction of that and make it county, i wish the governor would make it county by county because every county is different. Maria right, its critical for businesses to reopen and see if theres that demand. Do you think consumers will be confident to come out and shop again because when you look at the impact on your business, what can you tell us about that as well as other businesses in terms of Small Businesses getting ready to reopen and why its so critical . I think its going to be slow, people are scared, all of the discussions are, fear is greatest motivators in life. We have instituteed, purchased uv3 units, they have very expensive but they kill germs, hospital, germicidal and we are like the most brightest, smartest people in the jewelry business and certainly most knowledgeable especially in gemology and state by state its opening. We ask the governor, i mean, hes as feared as anyone but he has to allow us to put it back in our hands. We are the problemsolvers, we are the Business People. Maria joseph, thank you for your leadership on this, we will watch what develops, we appreciate. Great to see you. We feel that you are the de maggio of business. Maria appreciate that. Thank you, joseph falco, jr. Trying to reopen new jersey. Meanwhile as we were talking b. J. Wholesales with quarterly earnings, beat by 7 . Cheryl double beat, maria, a lot of buzz going into this report after we heard from sams club and also cosco, earnings per share at 69 cents a share, estimate was 37 cents, very strong on earnings per share, renew beat that came in at 3. 8 billion, estimate 3. 2 billion, Digital Sales up 350 , Digital Sales growth because youve got the app, youve got the website, they really delivered on that samestore sales up and Comparable Store sales up 27 , these are record results. I will tell you that wells fargo had written that after the sams club story maintained overweight on the b. J. Story and the stock is bumping, up almost 5 right now, Strong Quarter coming out of bjs, not a surprise during the pandemic, thank you. Maria what a move there. We will keep watching all retail earnings this morning, stay with us, we will be right back. 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Maria welcome back, time for morning buzz, first up a fourday workweek, how does that sound, new zealands Prime Minister to promote tourism and promote economic situation, the economy recover from the pandemic. Prime minister says theres lessons to learn from the flexibility of people working from home. Kristin, do you think a fourday workweek is effective . I think i could get on board . Kristin yeah, any leaders that are experimenting new ways to try to get people back to work, back out living, if you can have it so its distributed not crunched into a twoday weekend but distributed it a little more, maybe folks are more comfortable. The thing about new zealand, high levels of social trust. One to have biggest problems with covid is people viewing one another as the threat. New zealand is the place where people trust each other more. Maria okay. How about this, flirting 101, researchers claim to go have found 47 traits that makes flirting the most effective. Here are the top 5, humor, intelligence, good looks, politeness and honesty, yes, true, the study shows women tended to rate a gentle approach high on the list while men found good looks more effective, steve, what do you think about all of this . Steve i became an expert of this being the father of 5 daughters, but why it took scientists to come the interest in other people, smile and things like that, basic things, 47 things, useless but, hey, thats what they pay these people for, i guess. [laughter] maria there you go. Finally, we have new video to show you here, boston dynamics robot dog, this robot dog is now herding sheep like a pro. Spot roaming the new Zealand Grassland showing off its skill. Dagen, is this the future for farms . Dagen no, its not. Dogs do a better job, period. [laughter] dagen they keep you warm at night and they are your friend, they are your companion, even working dogs, so robot dogs, stay in the left. Maria dont take that away from our dogs. Still ahead a surprise at graduation, hear how the Naval Academy celebrated the class of 2020, next hour to everyone navigating these uncertain times. T work, principal is by your side. Were working hard to answer your questions. Like helping you understand what the recently passed economic package can mean for you. Were more than a financial company. Were a together we can get through anything company. Now, more than ever. Maria welcome back. Good thursday morning, everybody. Thanks so much for joining us. Im Maria Bartiromo. Ill is thursday, may 21st. Your top stories, 7 00 a. M. On the button on the east coast. Tensions continue to rise between the United States and china. The senate now has passed a bill that could force Chinese Companies to exit u. S. Exchanges or follow the law. This as the white house slams beijings economic and military policies. Coronavirus cases now topping 5 million across the world. This after all 50 states are now opening in some phase of reopening. This week. Today, were taking a look at the impact the pandemic is having on jobs in america. The initial jobless claims are out at 8 30 a. M. Eastern. Ahead of the numbers, futures are pointing to a decline. Stocks this morning, the Dow Jones Futures down 141 points, s p down 17 and nasdaq lower by 50. This after a rally yesterday. The nasdaq is now just four andahalf percent off an alltime high. Yesterday the nasdaq was up 190 points, the dow was up 369. We have bjs rising in the premarket after reporting a record First Quarter. Comp store sales were up 27 , online sales growing 350 at bjs wholesale club. Stock is up 5 . Former Vice President joe biden and the ukraine scandal is back in the spotlight. An investigation Just Launched overseas after phone conversations between biden and the ukraine president are released. The United States Senate Taking a major step in its probe of Hunter Bidens role at burisma. Controversy over the Michael Flynn case. Democrats are asking for his talks with the Russian Ambassador to be declassified. Mornings with maria is live right now. A fox business alert right now, checking out shares of macys, saying the coronavirus significantly impacted march and april sales. Business is expected to return gradually with most Stores Opening in lan late june. It has a preliminary operating loss of 905 million to 1. 1 billion. The stock is down another almost 2 at 4. 98 a share. That stock has come crashing down. Some of the other top stories were watching this morning right now, the coronavirus is still gripping the world. Globally, more than 5 Million People have been infected across 188 countries and in terms of the number of people who have died, more than 328,000 people have died. The largest outbreak here in the United States with more than 1. 5 million confirmed cases and more than 93,000 people dying. Despite the rising numbers, nearly all 50 states are starting to reopen in some way. Nearly 300,000 people have recovered from the virus in the United States and nearly 2 million have recovered worldwide. President trump is headed to a key Battle Ground state, michigan today, to visit a ford plant thats been repurposed to make ventilators, part of a National Tour to thank businesses, the businesses helping during the coronavirus pandemic. The president wants to thank them. Hes been critical of governor Gretchen Whitmers handling of the coronavirus crisis. A massive data look out of china, suggesting there were hundreds of thousands of additional coronavirus cases in the country. We questioned their numbers from the getgo. The leak from a Chinese Military university indicate the country could have had more than 600,000 total cases in 230 cities. Beijing is denying the allegations of a coverup. President trump criticizing china, tweeting this, china is on a massive Disinformation Campaign, because theyre desperate to have Sleepy Joe Biden to win the president ial race so they can continue to rip off the United States as they have done for decades until i came along, writes the president. L brands permanently closing 250 Victorias Secret Stores in the United States and canada. After the bell, l brands posted weaker than expected Quarterly Results as lockdown orders in mardies resulted operations at disrupted operations in victorias secret and bath and body works. 50 stores will also be shut down. Shares of l brands this morning are trading down at 12. 12 share, this is little changed in the premarket, a fraction lower. Graduation day has arrived. It had a very different look at two of the nations military academies. Solemnly swear that you will support and defend the constitution of the United States against all enemies, foreign and domestic. Maria graduates of the Coast Guard Academy took part in the first ever virtual ceremonies while speakers took the podium on campus, graduates took part online. The largest graduating class in history. Hip, hip, hooray maria grad west graduates ofl academy cheered as the blue angels performed a surprise flyover over graduation. The sailors practicing social distancing during their ceremony. Congratulations to the class of 2020. Holding china accountable, Chinese Companies could be forced to delist from american stock exchanges under a new bill approved by the senate this week. Companies unwilling to give regulators access to audit records and other financial information. During my interview with President Trump last week i asked him about Chinese Companies and u. S. Stock exchanges. Will you go one step further and force that Chinese Companies have to follow accounting rules if they want to be listed on the New York Stock Exchange and the nasdaq. Were looking at that very strongly. On the thrift fund, its run by the obama appointments. We said youve got to do that and were going to find out whether or not theyre going to do it very soon. If theyre not, were going to replace them very quickly. And we are looking at your second part of your question, were looking at that. Maria the president taking to twitter last night, criticizing chinese Disinformation Campaigns, saying this spokesman speaks stupidly on behalf of china, trying to deflect the pain and carnage that their country spread throughout the world. Its disinformation and propaganda attack on the United States and europe is a disgrace, writes the president. It comes from the top. They could have easily stopped the plague but they didnt. Joining me right now is florida congressman, retired Army Lieutenant colonel and green beret, michael waltz. Also with me, dagen mcdowell, Kristin Anderson and steve forbes. Congressman, thanks for being here. Thanks, maria. Good to be with you. Maria i want to get into this china issue. Youve got the china thrift fund, you and senator marco rubio have been calling on senator de santis to stop investing state employee pensions in china. Youve been outspoken on the issue. I too have been outward on this issue, given the fact that its pretty obvious that the Chinese Companies have raised trillions of dollars from our Capital Markets and yet they dont follow the rules that every other company does when it comes to auditing their earnings and balance sheet. Yeah, thats the amazing thing, maria. Our capital is actually building this frankenstein that seeks and the Chinese Communist party that seeks to dominate in their words, dominate a new global world order with china calling the shots and america subservient. Im glad you raised that issue with the president. I called him about it a few weeks ago and have introduced legislation that basically would stop our federal 401k style pension plan, the thrift savings plan from has 700 billion in assets, thats on the federal level, from investing in the Chinese Exchange which, one, has state owned enterprise as part of their Defense Industry and number two, doesnt abide by accounting rules even from a fiduciary oversight standpoint. So thats one at the federal level. There are also over 20 state Pension Plans that are investing into the Chinese Exchange. Weve started with florida to get them to pull back but were looking at over a trillion dollars of capital that were going to cut off from the Chinese Communist party. Thats how theyre funding their defend buildup. Theys thats how theyre thats how theyre funding their road initiatives and funding their technology buildup to eclipse the United States. Maria i brought this issue up a year ago when i first noticed that they wanted to put 10 into the msci index and when i looked at those companies and saw some of these Chinese Companies that we were going to be investing our military men and womens money, past and present military, into companies that are making tanks, theyre making the hike vision, tracking the uyghurs in the jails. I want to ask you about this memorandum of understanding that was put in place back in 2013. It was a bilateral muo that waived the requirements for u. S. Standard audits for chinese registrants in our markets. Why is that memorandum of understanding still in place . Yeah, look, so i think a lot of people have just been turning a blind eye. Theyve just been letting these companies sit on our exchanges and theyve been letting these massive Pension Funds invest into an exchange that are just completely devoid of any accounting standards. Set the geo politics aside, we dont really know where these investors money are going, except we do know theyre going to their stateowned enterprise. I would add another one, bohi shipyards that Just Launched two Ballistic Missile submarines capable of striking the United States. Its truly incredible. China thats been doing this for years. They have taken a cold war mentality against the United States. I think in the wake of this coronavirus it will be a real wakeup call. I eventually would like to see people walking into a walmart or their store and seeing made in china and putting the product down. I really think we can make some progress. Maria and steve forbes, jump in here. All you really have to do is look at lucken coffee and what happened to lucken coffee, right, over the last couple of months and see how that stock has plummeted because they had fabricated sales. We dont know this until its too late. Look what happened to lucken. Steve thats right. Thats why it should be a level Playing Field if you want to be listed on our exchanges, youve got to follow the rules. Its amazing that hasnt happened before. It is certainly going to be happening now. Mostly interested, though, with the congressman, given his background, what changes he sees in the u. S. Military which has been focused on terrorism for 20 years in terms of changes, the u. S. Marines are going to make fundamental changes they say in the next few years because of new realities. What kind of new realities do you see taking place, especially countering those islands china has built in the South China Sea. Steve, a great question. One, youve seen the president sign off on a new National Defense strategy that shifts to what we call near pier competition or great state competition. Number two, youre seeing for example a new type of navy thats moving away from these large massive ships like aircraft carriers to small partially manned ships to deal with the chinese missile threat, investments in hyper Sonic Technology which is a new type of maneuverable missile. My point is, and this is another bill that i introduced, is i am tired of spending hundreds of billions of dollars in research and development for these new technologies to deal with china, just to watch the chinese steal that technology through cyber, through our universities, with 400,000 Chinese Students here per year, american professors who are on the chinese payroll and through all kinds of other means. So we need to lock well, the last one, theyre actually buying up now distressed American Companies that are going bankrupt in Key Technology areas like Artificial Intelligence and robotics. So well deal with and be able to compete with china militarily but its on that economic and Technology Front that im really focused. Maria yeah. Its Economic Warfare in some regards. It is. Maria it really is. And when you look at what theyve done as steve mentioned in terms of the South China Sea and the military movement, theyve put military bases across the world and theyre doing it at ports so that they could control the trade like the one in jabutti where they want to be right there at the mouth of the red sea, congressman. So there are a lot of different areas. And yeah. Sorry to interrupt. Its both sides of the panama cacanal. Its in our backyard that the chinese now own. Theyve done it in ports around the world, theyre doing it in shipping. Theyre owning whole verticals and centering them in china and thats what we have to break apart. Maria yeah. And you mentioned the professors. I cant believe this long list of professors that are getting arrested because theyre taking money from the communist government and turning around and applying for patents on the information they just stole. Its just incredible. Congressman, thanks for being on it. Well watch the developments. Stay with us. Weve got a lot coming up, an amazing investment, the winner of a Million Dollar picasso painting raffled off for charity, just ahead. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. I do motivational speakingld. In addition to the substitute teaching. I honestly feel that thats my calling to give back to younger people. I think most adults will start realizing that they dont recall things as quickly as they used to or they dont remember things as vividly as they once did. Ive been taking prevagen for about three years now. People say to me periodically, man, youve got a memory like an elephant. Its really, really helped me tremendously. Prevagen. Healthier brain. Better life. M a welcome back. Maria joe biden back under the microscope. Ukraines president is cabling for an investigation calling for an investigation. The Senate Homeland Committee Approved a subpoena power over a Consulting Firm linked to Burisma Holdings. What will the political impact of this investigation look like . Kristin i think its not likely to be a huge political impact. You could just look back at january, back when impeachment was wall to wall, networks were suspending coverage and just focusing on this issue. And you saw Donald Trumps numbers go up a little bit. But overall, wound up not moving things. With this story coming back up again in the context of a global pandemic, i dont expect it to move many of the voters who are the swing voters in the middle who really matter. Maria yeah. Thats true. Dagen, how do you see it . Dagen its an if an investigation is needed then an investigation should be done and if the senate sees the need to look into Hunter Bidens work in the ukraine or in ukraine if zelensky calls for that, it should be done. Kristin brought up impeachment. The democrats were focused on trying to impeach the president. Yes, he was impeached in the house. While this virus, thats killed nearly 100,000 americans was spreading around the globe, how arent they responsible for basically getting in the way of being ahead of the virus . Im just asking that question. Maria yeah, no, its the right question to ask, dagen. Its more than just the impeachment trial. Look back at the last three years, while the democrats were firing up this investigation into this narrative that President Trump colluded with russians to win the election, completely ignoring 63 Million People actually voted for him and throughout this threeyear period, the country was up in arms, what did we miss . Ill tell you what we missed. The real threat. China. As china was eating our lunch and stealing intellectual property and jailing muslims, all of these things were missed and, you know, devin nunes did an investigation into china for the last three years. His colleagues on the left were investigating trump. Theres a lot that was lost. Dagen it raises the issue of what is the priority for democrats. Is it helping the lives of everyday people, before this virus and as we fight this pandemic . Or is it attacking President Trump and the people who voted for him . Is it all political . Or is it are they actually working in the best interest of Everyday Americans . There you go. Maria we could look at their districts, right. Nancy pelosis district is san francisco, adam schiff in california, lets look at those neighborhoods. Lets look at those economies. Dagen exactly. Maria well take a break before we do that. Coming up, real estate bidding wars back in bloom, just in time for spring. Were on that when we come right back. Dont miss it. Stay with us. Hiding from the world with a broken wing. But you Better Believe youre going to fly with me. I am totally blind. And non24 can throw my days and nights out of sync, keeping me from the things i love to do. Talk to your doctor, and call 8442142424. Maria welcome back. Against all odds, spring home sales are blooming. Buyers getting back in the game, battling over a small number of available properties. The spike in demand boosting home price as well, creating a bidding war even in a damaged economy. Joining us now to talk real estate are dolly lenz, along with managing director jenny lenz. Always a pleasure. Good to see you. Dolly, characterize the situation for us. What are you seeing out there in real estate . Its amazing. Purchase volume was down just 1 over a year ago. Imagine that. Last month, it was down 35 annually 678 thi. This dow month its down 1. 5 . Its a stunning recovery. New listing are down 29 annually. And buyers still want to buy. Mortgage rates are alltime low, hovering around 3. 28 . And theres a huge interest on first time home buyers, clamoring to get on the property ladder. We are seeing a lot of bidding wars when you would think as you initially said that people would be rushing to sell at a time like this. Maria does it have anything to do with people fleeing cities . Are you seeing a difference in terms of the suburbs versus the city and people wanting to change their lifestyle . Were seeing people want to change their lifestyle but theyre not fleeing cities. So for example, we have clients that lets say they have a 4 million budget, theyre now deciding to divide that purchase budget amongst two properties, perhaps one in the ham tons they can go away to where one in the city where before it was all in the city. So were seeing that change. And the wish list has changed as well. So people want buildings with under 100 units, they want four apartments a floor at most, they want fewer amenities, where before you wanted the biggest gym and every amenity you could think of that you may or of may not use and people want to focus on being safer and living more modestly in a smaller building. And also work from home considerations, big work from home consideration coming up on everybodys wish list. Maria that makes a lot of sense. I think we had another guest on recently who said look, forget about the six story buildings. Nobody wants them. Theres too much density. Thats a major issue for commercial real estate. Thats for sure. Where companies are not going to need all that space. Then youve got the big banks facing bigger challenges go ahead, dolly. Were very bearish, commercial real estate. Look at mondolez, 83,000 employees and they have stated they are looking to have the majority work from home. Were talking of course a company that is famous for oreo. Who would have thought that. And i think commercial real estate is going to struggle. The minute these leases are up remember, these are longterm leases, sometimes 20 years. The minute these leases are up, i think were going to see a big drop. Twitter and square are already saying you can pretty much work from home indefinitely. Companies like facebook, google, zillow, theyre saying through the end of the year. Mastercard. Mastercard came out saying until we have a vaccine, you can work from home. So definitely commercial footprint we think is going to shrink. Absolutely. Maria i was speaking to someone just yesterday, an executive in housing, and he said that over time they are going to start looking at some of the office space thats going to be idle because companies dont want it, employees dont want large buildings, the commercial real estate issue is going to be big and he said theyre going to start looking at that for housing, Affordable Housing for people who need it. I was stunned when he said that. Ill be watching that. Let me ask you about these big banks, facing bigger change as they navigate plans to safely phase workers back into the office once covid19 restrictions are lifted. Jp morgan said it expects to keep its office only half full, Goldman Sachs is capping its paris office at 20 capacity with Conference Rooms limited to one person at a time. Citigroup looks to abandon its new york city offices completely, eyeing spaces in new jersey and the new york suburbs. So ladies, obviously commercial real estate is going to see a big impact. You dont think that carries through to individuals, you dont think carries through into the Residential Market . We dont think so, at least not in the short term. I think people still want to be in a thriving city. Look, everyone wrote off new york after 9 11. Right. And everybody came back to new york. Maria thats true. Its going to take time. New york is very resilient. People will still want to live there. Right now, theres no bars, no restaurants, youre not going to work, so proximity to work is not important to you. Once this ends, hopefully very soon, people will go back to new york, maybe live a little differently, maybe in a smaller building, but hopefully things will go back to normal. One big thing people talking about is states having to fund huge deficits, how thats going to be paid for. Is that going to mean huge increases in real estate taxs in and other taxes. That could kill the real estate market. Maria yeah, its got to be paid for at some point, dagen. You know, the bills will come. Dagen i see people fleeing the city. I see my rental building emptying out for good. The rents havent budged yet. Ladies, when the rents start falling and they will fall dramatically as we move into the summer and the fall, prices for sale are going to follow. Maria yeah. I agree with you, dagen. I think cities are in trouble. Look, dol dolly and jenny yourn the front lines. Were not seeing the devastation that were expecting yet. No, we have a huge list of buyers waiting to go out and buy. So thats why were not seeing it. People [ indiscernible ] sooner, but other than that, we dont see a mass exodus from new york city and big cities. Maria we will leave it there. Dolly and jenny, thank you so much. Well be right back. Thank you. Maria stay with us. vo since our beginning, our business has been people. And their financial wellbeing. Its evident in good times, with decisions focused on the longterm. And crucial when circumstances become difficult. That continued emphasis on people our advisors, associates, clients and communities gives us purpose, strength and a way forward. Today. And always. And my side super soft . Yes, with the sleep number 360 smart bed, on sale now, you can both adjust your comfort with your sleep number setting. Can it help me fall asleep faster . Yes, by gently warming your feet. But can it help keep me asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both comfortable. So you can really promise better sleep . Not promise. Prove. Save 1,000 on the sleep number 360® special Edition Smart bed. Plus 0 interest for 36 months free premium delivery when you add a base. Ends monday. Maria welcome back. Disney world drawing huge crowds as it begins phase one of its reopening plan. Cheryl casone with details now. Cheryl. Cheryl thats right, maria. Disney allowing some shops in its popular Disney Springs Shopping Complex to reopen yesterday, it didnt take long for lines to form outside. Right now, only some shops are open. There are strict safety guidelines in place including face coverings and temperature checks for staff and guests. Disney retail shops will begin reopening next week. Talk about a lucky draw, an italian woman won a painting by picasso valued at 1. 1 million after her son bought her a raffle ticket for 100. The Winning Ticket picked during a live draw at kristies auction house in paris. You spoke with one of the organizers of the raffle back in february, actually. And here is a look at what is trending this morning on foxbusiness. Com. Expedia reports bigger loss and suspends dividend as coronavirus impacts travel. The Company Reported a loss of 1. 3 billion in the First Quarter. They say things are starting to improve. Jackie kennedy onasis summer home is for sale, its on the market for 7. 5 million. The Justice League campaign pays off as the new film will stream on hbo max. Fans get to see the original version of the 2017 miss in 2021. There was a campaign on social media to get that going. Those are your headlines from the newsroom. Back to you. Maria all right. Cheryl, thank you. We are looking at markets under pressure this morning, futures indicating a decline at the start of trading as investors await the jobless claims numbers at 8 30 a. M. Eastern. Another 2. 4 million americans expected to have filed for Unemployment Benefits in the last week, that would bring the total number of americans unemployed, filing for benefits since the shutdown began to nearly 39 million americans. Joining me is former Federal Reserve bank of atlanta president , dennis lockhart. Thank you for being here. When you look at number of unemployed right now at 39 million, what kind of Unemployment Rate does that equate to . Well, im sure its above 15 as the official rate. I look at a range of Unemployment Rates and the socalled u6 which includes marginally attached and parttime is above 20 . So i think were unfortunately were going to be seeing numbers that rival historic highs and im sure the next job situation report is going to come in well above 15 for the official Unemployment Rate. Maria so yesterday of course we got the Federal Reserve minutes. Not a lot of new stuff in the minutes yesterday, although there was more concern that the coronavirus is posing a Severe Threat to the u. S. Economy. Officials say theres more uncertainty to come as the economy recovers and jay powell spoke again later, hell speak again later today, dennis. Let me get your take on getting us out of this. What kind of a recovery do you expect . Do you think well see growth in the third and Fourth Quarter . Do you think its sort of this ushaped recovery where we will go back up in 2021 . How do you see it . Well, i dont think you can make a single prediction. Ive been answering your question by saying there are a range of possibilities. An optimistic side of that range would be growth in the second half and the Fourth Quarter looking substantially better than the Second Quarter. And then perhaps a long period of recovery thereafter. But it could be much worse. And i think jay powell is correctly concerned about the chances of a second wave and what were going to do to try to restore the economy in the event that the underlying Public Health problem is really very volatile. So i think you have to think in terms of a good case, which i laid out, and then a much grimmer case that could take a long time and be a very protracted recession with deep unemployment. Maria wow. Steve forbes, jump in. Steve dennis, in terms of theres real concern about the old wall street, main street divide. Why is the Federal Reserve taking such a long time getting this main Street Lending program out and why do they seem to be along with treasury putting on conditions as if its a normal commercial bank and not getting lifelines of capital out so of these companies can survive until the economy truly reopens and recovers . They seem to be dragging their feet. Whats the problem . They have taken some time to design the program. They want it to work well. It does worry me that it is has taken so much time. Jay powell did say that it will be up and running by the end of the month and so thats good. That may turn out to be too late for some midsize businesses. Also, i think theres some potential for weaker takeup than they expect because as time passes, firms are less and less willing to take on of debt, given their condition and given in many cases the relatively high debt they had going into the crisis. So this may turn out not to be quite as potent as had been expected, but from the fed side theyve got to do it car carefuy so they dont incur losses and so they the program runs efficiently. Maria and the markets of course have been incredibly volatile as a result of all of this. The second largest one day fall in history was on march 16th. The dow industrials plunged nearly 13 . As markets react to all of this, dennis, whats your take on the reopening and the reaction to it across the country . I mean, how long the longer we see the shutdown, what is the longterm damage to the economy in your view, something that jay powell has been talking about as well. Well, i think the best way to think of that, again, and ill quote jay powell, is the risk of going from a liquidity crisis into a solvency crisis and in a solvency Crisis Companies fail. They go through bankruptcy. Some of them shut down. Jobs are lost permanently. Capacity in the economy is eliminated or is lost. And so i think that is the risk. Theres an aspect of this that its a bit of a race against time. So im very supportive of reopening as long as the foundation of the reopening is a very solid Public Health regime in each state or each local and at each employer as well, protocols safety protocols that really give people confidence that they can return to work rather safely. So i think we have to do this but we have to do it smartly. Maria all right. We will leave it there. Well be watching. Great to talk with you this morning. Thanks for joining the conversation, we so prob probe. Plans to reopen disney world making a buzz this morning. We are on it right after this. Stay with us. Veryone navigating these uncertain times. Whether youre caring for your family at home or those at work, principal is by your side. Were working hard to answer your questions. Like helping you understand what the recently passed economic package can mean for you. Were more than a financial company. Were a together we can get through anything company. Now, more than ever. Show me what youre made of. So we showed it our people, sourcing and distributing more fresh food than anyone. Our drivers helping grocers restock their shelves. How were helping restaurants open popup markets. And encouraging all americans to take out to give back. Adversity came to town. So we looked it in the eye. And it wont be us. That blinks first. Maria welcome back. The new normal, offices across the globe switching up work flow protocol amid the coronavirus pandemic, returning employees definitely seeing changes. Jackie deangeles is following this story. We all want to know what this is going to look like when we get back at it. Good morning, maria. Thats right. All states are now executing some plans to reopen and thats a huge question, how do you bring people back to offices. What does that look like in an environment where we know that crowding allows the virus to be transmitted through virus droplets that could get into our eyes, our noses, our mouths. The w. H. O. Issuing guidelines on this on what to do including distancing workstations, at least three feet apart, masks should be worn, sanitizers should be available. You have elevators, rest rooms, kitchen areas, is a mask enough for those areas where space is at a premium . The w. H. O. Actually suggests staggering shifts to keep the number of potential employees in common areas to the minimum. Its also suggesting markers, youve seen them in walmart, spots on the floor where employees know where to stand if youre forming a line. Also consider ventilation, an Office Building could be like an airplane in some ways, you dont open the window to get fresh erin side. I talked to some Office Managers saying that hepa filters need to be installed to make sure the virus droplets dont circulate in the air. One controversial suggestion being made by the w. H. O. Is thermal imaging, cameras that can read body temperatures and thats one of the telltale signs of the covin covid infection. It should only be used in the context of prevention. Some experts are suggesting that going out of your house, going to your office, especially as more people are doing it is going to present some level of risk even if every precaution is taken. Think about these spaces. Theyre designed to maximize productivity. They were not designed to focus on social distancing, maria. So big changes coming. Maria yeah, for sure. And it will look different as well. I know that the plexiglass is being used everywhere. Jackie, well keep following that. Thank you so much. Dagen remarks do yo dagen, wt do you think about this when we get back at it . How are you things looking from your side, dagen . Dagen ive been here in the studio, in the office, multiple times a day throughout the pandemic. I havent worked from home one day. And it is a question of how many you cant have everybody come back at once. Its just impossible because of the flood of people that would happen. So its going to be gradual. And its going to be people making sure that their shifts are staggered so youre not sitting on top of people. I can tell you not in the building but certainly in my apartment building, if more than if a second individual tries to get on the elevator with me, i will yell at them until they get off. [ laughter ] dagen two people. Youre crowding me, youre crowding me over here. You can wait. Its not a big building. Maria yep. Well, they will wait. Coming up, watch a classic with the man himself. Maria how you can watch rocky with Sylvester Stallone and its making a buzz this morning. Thats next. Stay with us. 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. 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. Maria welcome back. It is time for the morning buzz. First up, reopening orlando. Disney world, Universal Studios and seaworld submitting plans to florida to fully reopen. Disney springs already greeting guests and masked seaworld employees are testing a roller coaster. Kristin, do you think people will be racing to florida to be first in line here . Kristin i think a lot of folks will want to take a vacation but its going to look so different. I grew up in orlando. I worked at Universal Studios many summers on the king kong ride there. The thing these parks will have to do is extraordinary. Think about the lines people have to wait in to get onto a ride. If you have to stand with your party six feet apart from others, how will you fit the folks in a line . Youll need a sophisticated fast pass. Every time the roller coaster comes through youll have to wipe everything down. Thats going to take forever which will make the lines even longer. And then some of these rides are just not built to be socially distanced in terms of the cars youre sitting in. A ride like space ship earth, you have a party in that pod and thats a fixed amount of people sitting in your pod. You know. You can only be with your own party. Its going to lengthen the lines even more. This is a huge challenge for theme parks but i am rooting for them. I hope they can rise to the challenge. Maria yeah. Youre right. Its going to be very different and a lot lower revenue numbers by the way. Next up, watching rocky with sly himself, Sylvester Stallone is kicking off a caa Screening Room with the stars series this afternoon. Joining fans for a live stream of the boxing classic on facebook. Thats me in philadelphia when i went up the rocky steps. I was having the best time, oh, my god. This was four years ago exactly when we were at the Philadelphia Democratic National Convention and i went up all those steps like rocky did. Steve, will you watch . [ laughter ] steve yes. And the spirit of rocky is what we need right now. Beating the odds. So i think this is going to be a huge hit and i just wish rocky could go into a washington and knock some sense into some of these bureaucrats who have been slow motioning some of the loans to Small Businesses and trying to do some sensible things. That spirit is a lively one and i look forward to it. Rocky lives forever in my mind and im going to try to get in shape, maria, to do those steps. So thats on the bucket list. [ laughter ] maria that was a lot of fun, those steps. All right. Lets look at this. Drivein with the bronx bombers, check this out. From movie screenings to karaoke nights taking place in yankee stadiums parking lot in july and august. There will be a stage with large screens and pa system, 200 social distance cars will be allowed at a time. Dagen, what do you think . Would you cruise up to the bronx for a drivein movie . Dagen i would. How many new yorkers own an automobile . Like a lot of people a lot of folks in new york city dont own automobiles, unless you can park them on the street, because my i have a parking space and its about as much as my rent is for my apartment every month. But a shoutout to the gushland drivein off i64 in virginia. Theyre doing a double feature. The first feature is knives out of which is h hi hig hilarious. Maria i love that. Thats cool. Dagen a pickup truck with a sofa in the back, thats how you watch a drivein, maria. Im all over it with you. Maria there you go. I love it. Thank you. I want to thank you, kristin for joining us this morning. Great to see you. Please come back soon. Kristin of course. Maria when we come back, harvard professor Alan Dershowitz is here to talk about Michael Cohens release from prison and much more. Starting next hour, mornings with maria. Well be right back. Its time for the Memorial Day Sale on the sleep number 360 smart bed. Can it help keep me asleep . Absolutely, it senses your movements and automatically adjusts to keep you both comfortable. Save 1,000 on the sleep number 360® special Edition Smart bed. Plus 0 interest for 36 months free delivery when you add a base. Maria welcome back. Good thursday morning, everybody thanks so much for joining us. Im Maria Bartiromo pch thursday may 21 stop stories 8 00 a. M. On the east coast, tensions rising between United States and china, the senate has passed a bill that could force Chinese Companies to exit u. S. Stock exchanges if they do not follow accounting rules white house slaumz beijing economic and military policies coronavirus cases now are topping 5 million across the world that have the all 50 states are now opening, in some phase, today we are taking a look at impact pandemic is having on jobs in america, the initial jobless claims out in 0 minutes time ahead of the numbers markets pointing to a lower opening take a look at stocks down 135 points dow industrials, s p futures down 16 nasdaq futures down 37, this on top of a pretty good rally yesterday the dow up better than 32 in just under two months. Yesterday dow up 369 points nasdaq up 190 s p up 48 consumers doing a lot of shopping only, whole seal open rising if premarket reporting a record First Quarter, sales up 27 check out only sales whooping 350 , that stock right now up better than 4 best buy had a double beat on earnings in revenue online sales up over 155 , overall revenue down as Stores Closed during the Lockdown Company maintaining dividends, stock is down about 3 former Vice President joe Biden Ukraine scandal in spotlight this morning investigation Just Launched overseas after conversations between Biden Ukraine poroshenko he raffled. Controversy over Michael Flynn case deepening the democrats asking for former National Security talks with Russian Ambassador to be declassified. Global markets selling pusher european indices down across the board about the board u. S. China tension story unnerves investors ft one hundred down 43, dax in germany down 144 signs european economy slowly coming back eurozone purchasing Managers Index for month of may out today above expectations, asia overnight markets mostly lower take a look japan easing up lockdowns lifting state of emergency in osaka kyoto, tokyo state of emergency would End Next Week nikkei average down a quarter of a percent dagen mcdowell, steve forbes new jersey congressman Jeff Van Drew, great to see everybody this morning. Dagen great to see you and of course, steve forbes as well joining us this morning congressman Jeff Van Drew let me ask you about opening new jersey. Is that your number one priority right here . It is my number one priority, i think we can do it better, i think we can do it a little, it is the circumspect how we do it no reason you cant be careful, and appropriate and, yet, at the same time really get businesses going, we say it is about time we dont want to wait too long, we dont want the cure to be actually worse than the disease. Maria we are feeling that in new york as well, todays New York Post headlines we have been showing we will talk more about that this hour we are happy you are here with us congressman van drew, thank you some top stories we are watching this morning, meanwhile, coronavirus, still gripping the world, global more than 5 Million People infected with covid19, largest outbreak in United States, with more than 1 1 2 million confirmed cases. President trump is headed to key battleground state of michigan today to visit a ford plant repurposed to make ventilators part of National Tour to thank businesses helping during the coronavirus pandemic with take a look at he ford premarket down 1 and 2 s 3 5. 40 a share on ford, at least three hurt one critically after a gunman opened fire at a popular outdoor fall in phoenix sush glendale the man in Custody Police are aware of social distancing videos appearing to show him opening fire inside, no word on a possible motive just yet. Shares macys under pressure in premarket, the company had news it issuing a sales warning First Quarter expecting to post sales about 3 billion dollars down 5 1 2 billion from a year earlier retailer will report earnings july 1 plans to reopen most stores by late june stock is down right now, the rain a damper at darlington, toyota cut short 20 laps to go Danny Hammond pick up a win in smiling face mask. Pushed for the lead Michael Cohen to be released from prison today over concerns covid19 pandemic former lawyer set to be released from upstate new york facility november will serve reminder of term at home joining me right now harvard law Professor Emeritus former criminal defense attorney general for o. J. Simpson author of trump dot. Allen great to see you this morning thanks very much for being here. Thank you so much. Maria so let me ask you first about Michael Cohen reaction to rest of his term served from home. It is the right decision whatever you may think of what cohen sid wasnt sentenced to death wvs sentenced to disease was sentenced to incarceration not violent not dangerous so common sense compassion require that he be allowed to serve his sentence, at home, the problem is that there are other people in prison today, i raept guy almost 80 years old, he is not released others have been released Michael Avenatti relief people quite sick have not been released the policies of the department of prisons, are somewhat arbitrary we need a consistent approach everybody serving a sentence for a white collar offense not dangerous subject to getting the Due Diligence is vulnerable should be allowed to go home at least pending the end of the pandemic, then if they have long sentences they can go and complete their sentences but these are not death sentences the decision to reefz of release him right decision. Something we have been railing about all inmates released in emotioning, a lot of inmates they are released because mayor de blasio Governor Cuomo want to make Rikers Island shut that down make prison system a lot smaller with much lower capacity, the problem is they are coming out and they are committing more crimes, than being forced to come back in there is culpability let out inmate no bail reform law makes no sense then commits another crime is anybody culpable for that . I think first seem let out white cooler offenders no risk recidivateing, in 70s when its whether you let somebody out burglary or robbery, much, much harder question the balance risks balancing rfksz of innocent civilians versus risks to them we have to start with people posing no zarng at all i think that is the right and sensible approach. Let me ask you he former Vice President joe biden back under microscope this morning president of ukraine is calling for investigation, into the leaked phone conversation between biden and predecessor links american aid to the removal of a top ukrainian prosecutor weve got it on tape the Senate Homeland Security Committee has approved subpoena power over Consulting Firm linked to Burisma Holding where hunter biden served onboard reaction. I think investigation is appropriate i think will be cleared is a argued in front of the senate just because there is a quid pro quo doesnt make it criminal there was quid pro quo biden said you can hear on tape we will release a billion dollars if you fire the corrupt prosecutor that was quid pro quo. But, as i said in front of the senate, misunderstood by cnn, others quite deliberately, the fact that it is a quid pro quo doesnt make it a crime or oeb about impeachable i dont see anything illegal about the Vice President of the United States conditioning aid on firing a corrupt prosecutor. We condition things all the time, quid pro quos are part of the way we conduct our Foreign Policy i think everything from that there should be investigations of recording of the son lets facts go where they may but i am not in favor of weaponing the criminal justice sm against democrats republicans or president ial candidates or children unless clear evidence of crime and i dont see any clear evidence of crime here. Weve seen enough of politicization of the intel agencies in 2016 for sure. Right. What about any wrongdoing with regard to Hunter Biden Burisma knowing he travels on air force two with thenVice President joe biden when he came home received one and a half billion dollars for hedge fund. I think that is worth looking into as long as we apply a single standard to everybody we have to ask the same question of every relative of every public figure, and we have to create standards that are applicable in the future lets not make crimes out of sins if sins public has right to judge assess them there is a distinction between sins and crimes the essence of what i have argued from the beginning of this administration. Maria very good assessment let me ask you this the only man ever convicted in u. S. Court for role in september 11th attacks says he is renouncing terrorism, alqaida Islamic State he said would he like you or Rudy Giuliani to represent him your reaction to what we are hearing here. He hasnt reached out to me if he truly and sincerely wants to help victims testify against other terrorists what he says he wants to do i am certainly willing to talk to him. I dont know how series his crime is people serving long prison terms often decide they were wrong in effort to try o get better conditions, or release but we are part of a tradition reasonablingously civically we forgive if people make true true true confessions rehabilitation, so i am open to talk to him or anybody else who wants to help innocent people. All right, you are open to it, alan we will be watching the developments, thank you, sir. Good to see you this morning. Alan dershowitz joining tell us we will break. Quick look at markets chairman Mario Gabelli here this morning talking about how he allocated capital down 118 on dow future of movie theatre, people who prefer to watch flicks at home. Learn more at massmutual. Com healthbridge learn more at massmutual. Com healthbridge i am totally blind. And non24 can make me show up too early. Or too late. Or make me feel like im not really there. Talk to your doctor, and call 8442342424. Panelist markets positive lower opening this morning, as you can see, dow industrials down 116 points weve got weakly job claims out, in 15 minutes time, it is expected to show another 2. 4 million americans, filed for Unemployment Benefits in the last week, that would bring the total number of americans unemployed filing for benefits since shut doin began to nearly 39 million joining me Mario Gabelli i hope you are staying safe, strong at home thanks very much for being here this morning there is how you see the pandemic shut down impact on markets. Thank you, maria good morning to you, i have been listening basically we do the same thing over the last 50, 60 years we look with a microscope specific Companies Look with a telescope what world is going to do, we are looking at first half 2021 after election looking what the we think another round of fiscal stimulus jay powell doing a great job in monetary tools we think economy will make easy short temperatures Second Quarter middle july through the middle of august market going to focus on that we are going to see how big the wave is, so i kind of look at stock market, as a w, with a swoosh at end the benefit that is going on is extended economic recovery before they start cut back substantially then what happens in 2021 as you deal with macrostimulus simulation on global basis. I think what i hear you saying do you think then that the economy comes back, in fairly you know i followed Auto Industry 60scom conglomerates monitor policy what are leading Economic Indicators what are lagging what is going you know certain sectors come roaring back no car sales now going to look better on Global Base Oil prices have come back virtually negative 33 dollars barrel very low reallyive to past three years helps europe china, japan the yu staivents though we produce oil more energy i think following in shape the psychology 60 to 90 days youve got issues, speed bumps. How would you allocate exam do you think i want to invest in areas look maria ninety days ago march madness cancels the supply chain human pandemics shutdowns will have catalyst everyone looking for vaccine, basically short term just common sense practices, and i believe things like sports will come back not the way we know them but basically you will start seeing baseball they will have a detail request Baseball Players you will start seeing dpaimz much the way south korea taiwan two in attendance great for day part you are home in which games take place start with golf other sports nascar looking at owning Baseball Team next two or three years buying Atlanta Braves, a Basketball Team Madison Square garden public now, so there is a lot of things we focused on. So are buying teams you are really going deep in sports let me bring steve forbes in here mario talking about applying a sports team continuing to invest in the sports area even as sports have been shut down. Steve i think he is right when we get a vaccine people hanker to go to stadium get that beer hot dog whatever else in terms of a sports team like Atlanta Braves kind of team a childhood fantasy. My clients are buying it. Steve your clients buying it but going to give you a good seat at the game i am sure demonstrators come true. Daughters used to buy 100 shares Atlanta Braves, you can pay 20 bucks going to be sold for 40 in two or three years. Good detail my daughters are going to be after me interior. I am delighted he. Maria mario before you go, i just want to ask but some names that you own that are really benefiting from the stay at home we are doing homeline buying than ever tv telehealth teleeducatings where are you on Amazon Companies have seen a huge boost as results of shutdown. Great question a hundred years ago talking about henry ford Industrial Revolution today digital revolution which companies helped, hurt telemedicine we own locketed in backyard from Greenwich Office which companies are hurt, helped clearly question of real estate what part of real estate, what helped is has to vendors to Auto Industry will benefit when cycle improves components on we also have to be sensitive to the world, how do we Renewable Energy when have wind Solar Security very important, so on we like Energy Partners companies those are involved with, global basis, very interesting time to be wow interesting, your finding opportunities, throughout all of this mario good to talk with you this morning please come back soon we will see you soon Mario Gabelli. Take care. Maria thank you so much mario well be right back. Suburb. Maria welcome back it is a frightening future for movie theatre as study finds a stung 70 he motive governor prefer to watch new movies from home instead of a Theatre Health and safety fears 10 the say never stepping foot into a movie theatre again Jeff Van Drew in new jersey we are contain back to future with resurgence of drivein theatres. Tell us about that. A lot of fun new jersey has the only remaining now there is going to be new ones as well technological realming original drivein movie theatre very popular you can stay in car bring food with you, the governor has allowed that, after a lot of lobbying, i think people are going to enjoy that a great deal, because they do want to get out of the house i think what you are saying is generally true with the technology we have, today, we practicable have with sound and picture we have you know very way pretty much have a movie theatre in our home. But right now, i think some people really do want to get out. Maria you know, jeff im going to take a break when we come back i want to ask you about the conversation taking place right now in congress, about how things look different, and how business will look different given the shutdown lets take a short break weve got congressman Jeff Van Drew with us initial jobless claims in 3 minutes time we will the numbers and analysis right after this stay with us. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. 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. Maria welcome back. Good thursday morning. Thanks for joining us. Im Maria Bartiromo. Thursday, may 21 year waiting initial jobless claims any moment futures decline start of trading down 108 dow industrials expectations call for weekly job claems 2. 4 million for the last week that would bring total number for thelast nine weeks all the way up to 39 million, this is pretty much expected in the market we are going to get a tough number numbers should come out any minute it may very well move markets, if it is worse than that, get right to Cheryl Casone has the claims. Cheryl weve got a few things here, so claims coming in right about at it estimate the estimate for jump 2. 4 million we got 2. 43 million it was three million previous week a little bit of a drop from last week take good news where we find it guys, continuing claims coming in 25. 073 continuing is claiming, we were looking for jump there, that is about what we got, also we are looking at Philadelphia Fed numbers coming up right now business indices 43. 1 april 56. 6, 43. 1 worse than expected for the philadelphia that new jersey, pennsylvania delaware kind of Business Survey there that is the story with the initial claims now we are up to lets see if i can do quick math up pushing 39 million claims in total well off record we got week march 28 again we did get a revision 2. 68 for last week the initial claims, not Much Movement in the futures down 109 right now Dow Jones Futures tiny bit of pressure looking at right now. Maria pretty much in line with estimates, at 2. 4 million that was really what the estimate was, so no big movement in markets cheryl, thank you for that dagen your take up to 39 million or close to it but, again, pretty much what the markets were expecting. Dagen i am doing a math i am trying to figure out what percentage of that is roughly 24 of where the labor force was, going into this pandemic shutdown. So to put in perspective, youve got in matter of 8 weeks, excuse me nine weeks nearly 39 people filing for Unemployment Benefits, that means that almost one out of four working americans has filed for jobless benefits filed for unemployment, you see these numbers these numbers are still extremely high. What is going on is a lot of these state unemployment systems are still struggling to process claims i know people who started filing, in early april. In new york state still not able to get jobless benefits couldnt get ppp money that was a disaster they went tried to go on unemployment here you are, these numbers are devastating. I say this all the time but literally people have been put out of business, overnight, theyve been knocking out of their sturdy jobs overnight left lining up particularly in new york city goes back to New York Post cover lining up for food banks, trying to feed families. There is devastation coasttocoast, particularly here in these large cities this has got to end. This has got to end businesses have to be allowed to operate. Maria that is why, we have an economy it was selfimposed on us steve forbes your reaction what youve got people calling for hutdown to end all 50 states having some phase of reopening this week steve forbes. Steve i think that has to be stopped up we have to do more what colorado has done florida is doing very good opening their economies up put those numbers devastatingly they are dont include selfemployed not allowed to file for unemployment claims not counted in this number we know the socalled gig economy tens of millions of people working as independent contractors hurt out there under scores what this campaign is going to be about how do we get economy back on track as we reopen the european socialist way, low tax low burdens on business way to get deregulation deregulation absolutely going to be helpful to the economy, it couldnt be more stark than thisness numbers underscore how do we get them lower the european way or american way yoo you make a really good point in terms deef regulation move steve, Jeff Van Drew playbook president used in 2017 with economic policy, to try to get us back, that was tax cuts reregulation, of course, wanted to redo trade deals unlock spigot on energy. Weve got to open up, i mean, i dont know that anybody should be surprised at what happened here, we closed all our businesses, down basically except most essential businesses, so how could we be surprised . We knew this was going to be has been to be honest i would would have liked this done a different way i think there with a lot of compromises could have been been here we can have safety, masks we can make sure that, older people are staying inside that debilitated sicker people inside a whole lot of other folks could have been working businesses in a modified way we still can be doing that my argument in new jersey is were not moving fast enough you can be careful you can be methodical medical but youve got to move faster that is a big problem i think the president is the guy can do it because, if we really do cut taxes, if we really do cut red tape if we really incentivize you know business and economy we can do this we can come back. I believe eventually as he side he stronger than ever we have really got to work at it nobody should be surprised at where we are now. We did this to ourselves so that exactly, look speaking of some of the topics we have been talking about we have breaking news right now on the Chinese Company delifting baidu reportedly considering delist to go nasdaq to boost valuation, after the move to remove luckin shares amid fraud claims not allowing companies to be publicly listed in United States without approving not under control of a Foreign Government allowing auditors to ensure that they are following u. S. Law, and our accounting rules, my next guest thinks we should be willing to lose all of these chinese listings until they follow the law on the phone muddy Waters Capital foundesh chief Investment Officer carson block, carson thanks very much for being here weighing in this morning this is an important story, for certainly for me, and for this program. Chinese companies raised as much as three trillion dollars in our equity debt markets in last couple years, if you take those companies off exchanges that is going to be a big loss of business for major exchanges nasdaq new york Capital Markets in general. Does that bother you . Well, it is no secret, maria, that the interest of exchanges are not necessarily the same as interests of individual investors. And i think that when you look at these Chinese Companies that list in u. S. Raised trillions of dollars, many of which are committing fraud, i mean but call a spade a spade over 15 years u. S. Investors have been sis semically defrauded by china based issuers nobody has gone to prison for it i believe this continues in droves to this day when allowed to do that exchanges benefiting because they get listing fees Trading Volume exchanges on that, but individual investors lose out when these things blow up in fraud, even if they dont yet blow up, if giving us, safe information they are stealing our money nobody has been held accountable materially for this yeet. Yeah, it is about unbelievably Chinese Companies refuse to submit to audits by Public Accounting auditing oversight build required by law for all companies to have audits, and likewise they refuse to disclose corporate financials we saw with luckin roughed to disclose materials at risk to share value corporate reputations of companies those investing in them do you believe this will in fact mean increasing Chinese Companies being pulled from our exchanges . Well, i certainly hope so because look maria it is actually a little bit worse than you just mentioned. Against the backdrop of all growing skepticism, in congress, and you know by the president , toward Chinese Companies, last year, china went ahead and revised Securities Law and that law went into effect this year, and there is a new article in there that says, that no Chinese Company that has that is issued securities overseas may provide information to a foreign regulator without pergs of Chinese Regulatory Commission there was unwritten rule beforehand Chinese Companies were going to give finger to sec and doj but it is now written they have upped the ante in this i dont think out of bounds for us to reciprocate, do i not feel like the u. S. Markets will lose out. Maria they keepupping the ante carson remember when getting real griff on intellectual property theft, Technology Companies in, United States, this was a year ago what does beijing do communist party puts its own rules in place that force all companies to turn over all technology to them and use only, chinese Technology Companies, so that the Chinese Communist party can continue to steal intellectual property not getting caught, then in the middle of the pandemic, when when nurses doctors everywhere needed protective equipment ppe what does Chinese Communist government do put new rules in place that make it harder to export products to america and anywhere in the world, you have to go through the communist, any time against wall new rules to ensure communist government is very much in control we are watching this, there are bills in congress Holding China comfortable on it on from it the beginning gfx pushing back against accusations by you saying your company lacks basic understanding of business after your assessment at least 70 gsx users are robots the Education Companies a near total fraud. What do you want to say why do you think gfthex is lying about business the premarket down 4 1 2 all right. Sure. Well why they are lying at this point is because there is no downside, to continue lying. The chairman is worth on paper close to four billion dollars, so he has significant incentive to lie this company is a zero, i mean very little business there, in terms of of the you know understand our business, about weve been exposing fraud from china for 10 years we have 60 listings of these things every single one of them, started their reply with muddy waters doesnt understand our business. We do, it is securities fraud. We understand it very well what gfx is. Carson, isnt it true i mean, we report on this a lot and that is Civil Military fusion in china, isnt it true Chinese Companies under the law they have to follow civilmilitary fusion meaning any activity they have any innovation that they get technology that they come up with has to first go to the military. Has to be looked at by the military to see if it can be used there because military is their supreme priority they want to be number one superpower in the world not just economically, militarily should concern entire world. First of all, at the end of the day there is no such thing as purely private company or private actor in china they all must do bidding of the government even if their chairman wished to do otherwise which they dont because they live and breathe at grace of. This gets back to point about listings we helped capitalize, some companies, so that they can acquire our best technologies from Silicon Valley . I mean give to that is a major issue this really you know kind of like taking our money, in order to usurp technological strategic advantage from us makes no sense we continue to play this game on this level. Maria which is why the president , has now pulled back the idea that they are going to invest 10 of thrift fund into msci indices loaded with Chinese Companies building tanks other equipment that may very well be used against us or other companies in the future thanks very much for joining us on important topic. Well be right back. Yeah. Just like you said, people are at home, looking for ways to connect to their friends and family. We are seeing incredible growth on xbox live. We are seeing products like minecraft which has massive usage. You are seeing our Publishing Partners out there talk about their earnings and the business results. Gaming is having a moment. Its a time where people are using the activity to connect with friends. Its really great. Maria its interesting because the other day we had on palmer locke who founded oculus and sold it to facebook for 5 billion but now hes running another company, also he founded this drone company, military company, which works with the military. He told us that right now, because of the shutdown and covid19 worries, even the military is using video games to teach people how to drive tanks. We have seen with minecraft, minecraft is our biggest game. We have sold over 200 Million Units of minecraft, if it was its own country i think it would be a top ten country in the world. People are using minecraft for virtual graduations right now, using in ways to connect. Xbox live, our social network, in the last two months alone, we have had over 270 million new friendships created over 220 Different Countries and territories. Its just a great way for people to stay connected, to use the technology to connect to new friends and family. As you said, put it to uses that maybe it wasnt even originally built for. Maria yeah. Youve said, though, the video gaming industry will start seeing the effects of coronavirus next year, right . How do you see that happening . Tell us how that may play out. Yeah. Video game production is much like high end movie production, high end tv production. Hundreds of people coming together to build these very elaborate, very expensive productions that are triple a video games today and it is a collaborative process. Process like motion capture, where people are getting in a studio and capturing animation together, symphonic work we do. The teams have done incredible work to work remotely and make the progress we have. Minecraft dungeons is shipping next week. It will definitely have an impact on production for some games and where they are in the schedule and i think you will see that play out over the next two years. But i will say theres a lot of content in the market for people to play. Games are very durable, its not just about the next newest game that people play. People are playing games from their youth, playing games with their friends. While we might see a slowdown in new releases, im not at all worried about the engagement we see on the platforms because people love to play the games from their youth. Maria i can see that. Yes. Good stuff. Great to talk with you this morning. Thanks so much. Well be watching. Phil spencer. Well be right back. Its time for the Memorial Day Sale on the sleep number 360 smart bed. Can it help keep me asleep . Absolutely, it senses your movements and automatically adjusts to keep you both comfortable. Save 1,000 on the sleep number 360® special Edition Smart bed. Plus 0 interest for 36 months free delivery when you add a base. 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. Maria welcome back. Summer fast approaching and during this covid19 pandemic, more americans may be hitting the roads, steering an rv instead of flying to their Summer Vacation destination. Jeff flock is taking a look. Hes live in burns harbor, indiana. Jeff . Reporter its going through the roof, maria, and we thought we would just test one out for ourselves. Im in a mini winnie. Mini winnebago. Maybe you see, its pretty roomy out there. This was made available to us from our friends at campland rv in burns harbor, indiana. Apparently across the country, theres tremendous interest in rvs and in renting them. Listen to one dealer we talked to in the middle of kansas, who says its just nuts right now. So in the last 30 days for sure, we are actually tracking the best month of our entire history. Our rentals are in the same boat. They are actually tracking the best year in their history. We have been doing rentals for about six years. Reporter how do you rent an rv . Well, theres a couple different ways. Theres something called rv america. You can try that. Your local dealer may rent. Then theres something called rv share. Take a look at what you can get there. Its a little bit like the airbnb of rving. We found on there near chicago, now, because thats kind of where we are, a 2008 sunseeker, you can get that for 79 a night. Airstream flying cloud, you can get that for 109. I leave you with the big one. You probably want this one. Its the thor motorcoach, you get that for i think its 230, i believe. People renting rvs so they take the hotel with them, all sanitized, all clean, very good. I leave you with the open road. Maria amazing. They look so gorgeous, jeff. Really nice. The inside of that rv, beautiful. Burns harbor, indiana. Jeff flock. Thank you, jeff. More right after this. I have the power to lower my blood sugar and a1c. Because i can still make my own insulin. And trulicity activates my body to release it like its supposed to. Once weekly trulicity is for type 2 diabetes. Its not insulin. It starts acting from the first dose. And it lowers risk of heart attack, stroke, or death in people with known Heart Disease or multiple risk factors. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. Dont take trulicity if youre allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. Stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, severe stomach pain, changes in vision, or diabetic retinopathy. Serious side effects may include pancreatitis. Taking trulicity with sulfonylurea or insulin raises low blood sugar risk. Side effects include nausea, diarrhea, vomiting, belly pain, and decreased appetite, which lead to dehydration and may worsen kidney problems. I have it within me to lower my a1c. Ask your doctor about trulicity. Maria all right. Its been a great show. I wish you a great day, everybody. Dagen, steve, congressman van drew, thank you so much. Great show. Great show. Thank you. Maria have a good thursday, everybody. And a great long memorial day weekend. Varney Company Begins right now. Stu, take it away. Stuart maria, it was another great show. Well done indeed. Youre all right. Believe me. All right. Good morning, maria. Good morning, everyone. Where to start on a jampacked news day like this. Weve got more progress on a vaccine, a dramatic call to end the new york city lockdown and now, the revolt continues and grows. Doctors are joining the chorus and here comes the Vice President on this program, just a few minutes from now. Yeah, mike pence joins us around 9 40 this morning. First lets get to this. 2. 4 million new jobless claims