Transcripts For FBC Varney Company 20240713

Last week. That means 38. 9 Million People have been thrown on to the unemployment lines in the last eight weeks. 38. 64 million to be precise. The only bright spot is the weekly claims have consistently come down. That implies that the layoff trend has already hit bottom. Heres the markets reaction to all of this. The dow at the moment is on the down side but not much by. Youre looking at 60 points lower. Youre looking at the nasdaq down about 16. Small losses across the board. Helping the market, astrazeneca, working with Oxford University, they have announced progress on a vaccine. They will do phase three trials with 30,000 american patients in july. If it works, they say they could deliver 300 million doses by the early fall. Then weve got three stories about open up and open up now. 600 doctors delivered a letter to the president outlining the Severe Health costs of the lockdown. They call it a mass casualty incident. Open up, they say. The front page of the New York Post blares the same message. The big apple is dying, the streets are empty, the lockdown quote, needs to end now. That is strong stuff. The writer joins us in just a moment. That new jersey gym that defied the governors lockdown, closed today. We are going to delve into that. The police were following gym users to their cars so they could identify them through the license plate. They got citations later. I told you it was a jampacked show and it is. Varney company is about to begin. Stuart im starting with the breaking news on the revolt. That is the new jersey gym. They have now been shut down not by the police but by the department of health. Steve keely from wtxf joins us from the gym in bellmawr. What are the owners saying about todays shutdown . Reporter well, they said they expected this, because they got a semithreat from the governor yesterday during his news conference, then mysteriously they got a sewer backup caused by paper towels in their bathroom even though they dont even have paper towels in their bathroom. So a mysterious sewage backup that suddenly in the middle of the night, four Police Officers in marked cars, one in an unmarked car, escort a department of Health Vehicle over here to tape all those orange, blaze orange stickers, notice of embargo from the county Health Department, but then four pages of legalese from the woman you see to the right of governor murphy every day, the state health commissioner, ordering the atilis gym to be shut down for a health violation. Here is some more of what the owners ian smith and Frank Trombetti said this morning. Its just a bump in the road for us. We opened on monday, we stayed open tuesday, we stayed open on wednesday, and murphy does not have the legal precedent to shut us down so hes resorted to calling in the Health Department. However, all of these messages on the wall from the Health Department were put on without them ever stepping inside and taking a look at the facility. Reporter well, they had hired a private cleanup crew and they are in there now cleaning up the mess, and they could open today if they wanted, but they say they are not going to defy any Health Department orders, but they fully intend to reopen tomorrow on day five, since this all began. You mentioned the guys that were pulling out of the gym yesterday postworkout. The police knew how long they were in the gym so they had written their license plates down, then tailed them out of here and pulled over six young men and wrote them tickets for getting in shape. Stuart steve, thanks very much indeed. Report right from the scene. We appreciate that. All right. The revolt continues, bottom line. Look, this is the front cover, front page of the New York Post and says mayor deblasio should open the city now. The man who wrote that opinion piece joins us in about ten minutes. It needs to end now. Thats referring on the lockdown. Staying on the revolt, hundreds of doctors sent a letter to the president saying reopen the country. They write this. Quote, the millions of casualties of a continued shutdown will be hiding in plain sight but they will be called alcoholism, homelessness, suicide, heart attack, stroke or kidney failure. In youth it will be called financial instability, unemployment, despair, drug addiction, unplanned pregnancies and poverty and abuse. Dr. Marc siegel is here. To me, thats a clear call that the social cost of the lockdown is just too much, open up the country. You agree with that . Completely agree with that, stuart. First of all, lockdowns have never been proven to work when theres this much virus around. They just dont work. The virus is already in the community. In new york city, big hot spot, we are seeing a decline in covid19 cases, an incline in the amount that are admitted to the hospital. We need to reopen our hospitals. Listen, heart attacks, strokes, people that have acute emergencies, infections, broken bones, surveys show they are afraid to go to the hospital. Four out of five, afraid to go to the hospital. Cancer screening down by 90 . Wellbeing trust, to your point, has something called deaths of despair and every time the Unemployment Rate goes up by one point, deaths of despair climb by about 20,000 a year. You know what that means here . Between 75,000 and 150,000 deaths will occur due to alcoholism, due to drug abuse, due to suicide from people that lose their jobs. We are going to end up seeing a lot more people dying from the aftereffects of this virus than from the virus itself if we dont end the lockdowns now. Stuart we hear you, doctor, but i need your comment on astrazeneca. They are working with Oxford University to get 300 million doses of a vaccine to the public by october. By the way, they start phase three trials on 30,000 american patients in july. Doctor, that sounds promising to me. Very exciting news as opposed to the other news. Listen, astrazeneca, the Oxford University developed a vaccine here that uses a viral vector. We have done that before. They have tried it in primates already, in monkeys, and it works. They started to try it in people and now they are gearing up. As you said, 30,000 people are going to end up getting it over the next few months. The United States government is putting 1 billion towards this right now, money extremely well spent. My prediction is if this continues to look as safe and effective as we are seeing, we are going to have a vaccine by the end of the year from oxford with the backing of astrazeneca. They are talking about 300 million doses to be available by the end of the year. I think they are on target for that. Stuart all right. Doctor, we hear you loud and clear. Very loudly. Very clearly. Thanks very much, doc siegel. Good stuff. Want to get to the big Economic News of this morning which is 2. 4 Million People filed Unemployment Benefits just last week. Susan has been digging in. See any positives in this report . Susan absolutely, i do. So in investing we have this term called the trend is your friend, and in this case, its absolutely true, even when it comes to Economic Data like jobless claims. We have been down now, trending lower for the last seven weeks. In fact, last weeks number was revised downward to 2. 68 million from the 2. 98 million and im also looking at the states that have reopened. For instance, georgia saw the biggest drop in the week, a decline of 66,000 from a week ago which shows that once the economy reopens, people get back to work, these jobless claims numbers do eventually keep going down. We saw the biggest increase when it comes to california, a jump of 33,000 but that comes more from the gig economy which is paying some pretty good Unemployment Benefits. Some people suspect people prefer to get these jobless benefits instead of going back to work. But i would say that would be probably the most concerning factor here is that it rose to a record 25 million. Stuart we hear you, susan. Thank you very much indeed. Gary kaltbaum joins us now. I believe from florida. Thats his home base. Yeah, there he is. Thats his library in florida. Right. Gary, are you encouraged by the pace of opening up and going back to work . Here, absolutely, stuart. We are still dead as far as tourism which, by the way, brings in 75 Million People and 75 billion of economic numbers. That has to get better and thats going to be in time. But i have to tell you, over the last three weeks, i have been traveling around the three counties here that have about 2. 5 Million People, but only 2800 cases of the virus. We are now opening up and i can tell you, three weeks ago, it was a ghost town. Two weeks ago, less of a ghost town. Now with things opened up and some things at 50 , some things at 25 , people are out and about, the traffic is almost back to normal, the restaurants with less capacity are filling up. You can just feel it. So the more and more we open up, the better the numbers are going to be, on employment, on gdp and everything else. Its just a matter of time as far as im concerned. Stuart all right. Gary, im sorry to cut it short. I know you went to Great Lengths to get here today but we do appreciate it. Weve just got a jampacked news day. Gary kaltbaum on the positive side, thank you, sir. Now, news on the major theme parks. They are submitting their plans to reopen in florida today. Lauren, i guess this is how we found out what the parks are going to look and feel like when they do open. Lauren the big meeting is today but we do have some hints from disney, universal and sea world. Disney hopes to do what they did in shanghai, that reopening, because it worked. Limit capacity to under 30 , face masks, temperature checks, social distancing. Sea world, they want to open their parks and they think they can do it by june. The reason they think that is because its mostly outdoors when you go to sea world. Universal, we know the least about. They are expected to detail their plans at 2 00 today. Stuart florida wants that tourism to come back and well see when it does. Lauren, thank you. Lauren people need something to do. Stuart we all do. Thats a fact. All right. Check futures again, please. A narrow loss pretty much across the board. I did notice that facebook is way up again premarket this morning. Star performer yesterday, looks like it continues today. Still to come this hour, my interview with Vice President pence. I will get his take on getting us back to work. Msnbcs Mika Brzezinski is demanding take twitter take down the president s page. She set up a meeting with jack dorsey to ask why is the president allowed to have the platform. What a story. Did you see the cover of this mornings New York Post demanding that mayor deblasio end the lockdown now . The writer claiming the big apple is dying. Extraordinary front page. The writer joins me next. You wouldnt accept an incomplete job from anyone else. Why accept it from your allergy pills . Flonase sensimist. Nothing stronger. Nothing gentler. Nothing lasts longer. Flonase sensimist. 24 hour nondrowsy allergy relief confident financial plans, calming financial plans, complete financial plans. Theyre all possible with a cfp® professional. Find yours at letsmakeaplan. Org. Theyre all possible with a cfp® professional. There are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. Stuart about 14 minutes to go before we open the market and we are going to be down just a little, pretty much across the board. All right. Take a look again, please, at the cover of the New York Post this morning. A plea for the city to reopen and now, it reads the big apple is dying, its streets are empty. Tens of thousands have been plunged into poverty. Our leaders have no plans, no answers. New yorkers have already learned to socially distance. Businesses can adjust. The elderly and infirm can continue to be isolated. It needs to end now. I want to bring in the guy who wrote that genius, david marcus, correspondent from the federalist. I mean it. We needed that headline. We really really needed that headline. I think you are absolutely right. What response are you getting this morning . Thank you for that. The response has been very positive, obviously some negative stuff as well. I think this has been bubbling up now to an extent where we need to be able to have this conversation, because people in new york are going hungry. They cant pay their rent. Their businesses are closing. People cant get cancer screenings. Theres an economic and a human toll to maintaining this lockdown as well as to lifting it, so its time to talk about this right now. Stuart well, they are going to come right back at you and say you open up like that, and people will die. Whats your answer to that . Well, i mean, i think to the extent that we are able to protect the most vulnerable, we obviously need to do that, but as i just said, people are going to die as a result of the lockdown as well, and probably more importantly, that argument, that problem, isnt going to end until theres a vaccine and we dont know that theres going to be one. So the idea that we are just going to indefinitely keep the greatest city in the world shut down, we cant. And people are starting to realize its not practical, its not the right decision and it really needs to change. Stuart what happens this memorial day weekend thats coming up real soon . Weve got new york city beaches closed and the mayor threatening to take people out of the water if they dare to swim. You know, i can see confrontations coming here. You absolutely could. Its not going to be bill deblasio who is jumping into the water telling people to do this. Its going to be the nypd or other Civil Servants who dont necessarily want to do it. His entire approach has been kind of bizarre. He wants new yorkers to sort of inform on each other and call 311 if we see people doing stuff theyre not supposed to do. I live in brooklyn. We dont do that. So yeah, his approach is all over the place and so far, has not been particularly successful. Stuart david, i want to thank you very much indeed, a, for coming on the show but most importantly, for writing that front page of the New York Post. You had impact, david, serious impact. We appreciate it. Thanks a lot. See you again soon. I want to talk about amazon and aoc. Now shes under new scrutiny over her role in killing those thousands of jobs that would have come to new york city, but she killed them. Ash, give me more on the story, please. Ashley yeah. That story and that irony is not lost on the New York Daily News which lets face it is a left wing view newspaper but in an editorial today as they look back on that effort to get amazon to go somewhere else which ultimately from the New York Daily News editorial, it says at this time when coronavirus is ravaging incomes across new york, wouldnt it be nice if the city and state at least knew that one of the Worlds Largest companies, one of the rare concerns positioned to thrive through the crisis, have made a longterm commitment to locate between 25,000 and 40,000 highpaying jobs here. Yes, it would and lets not forget the 27 billion in tax revenue over a 25year period, lets not forget aoc and the left Wing Campaign cried foul, saying amazon was being given nearly 3 billion in incentives, that was money that could have been used for the neighborhood of queens, long island city, elsewhere, and boy, oh, boy, new york now is looking at losing half a million jobs possibly by next march, and also a 9. 7 billion decrease in tax revenue over the next two years. Wouldnt it have been nice to have amazon sitting right there helping new york city. Stuart wouldnt it be nice. Ash, good story. Thank you very much indeed. Next one, another eye roller from msnbcs Mika Brzezinski calling on twitters jack dorsey to take down President Trumps twitter account, i guess. Susan, dorsey has agreed to meet with her. Susan and the general counsel of twitter. For a few weeks, President Trump has posted conspiracy theories that possibly joe scarborough, her husband and cohost on morning joe may have been involved in a possible death of this congressional aide back in 2001. Mika says this is ridiculous. Take a look at what she said and take a listen to what she said on the show. Donald, youre a sick person. Youre a sick person. To put this family through this, to put her husband through this, to do this just because youre mad at joe because joe got you again today, because he speaks the truth. Twitter, you shouldnt be allowing this and you should be taking these tweets down, and you should be ashamed of yourself. You will be hearing from me on this, because this is b. S. Susan other democrats like Kamala Harris has also told twitter to take down and ban President Trump from the social media site but social media says look, President Trump is a public figure, obviously, and he has influence in what he says and people want to hear it so they said they will keep him on the platform. Stuart he also happens to be the president of the United States and it wouldnt be a good idea to ban him from a public forum. Susan also, dont you find it strange mika is trying to defend her husband . Why didnt joe speak up for himself . Stuart i cant explain those two ever. I wont try. Thank you, susan. Breaking news. Here we go. Actress Lori Loughlin and her husband have agreed to plead guilty to conspiracy charges in connection with a College Admission scandal. Thats just coming in to us. Dont know about the implications. We will follow it throughout the show. Futures show a very small decline for the dow, s p and nasdaq at the opening of wall street. We will take you right there after this. In my line of work, i come face to face with a lot of behinds. So i know theres a big need for gasx maximum strength. It works fast. Relieving pressure, bloating, and discomfort before you know it. So no one needs to know youve got gas. Gasx so no one needs to know youve got gas. 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. Stuart this is going to be fun. Next thursday in our 11 00 hour, we are hosting America Works together, a town hall. Dave ramsey, ken coleman, chris hogan with me. Send in your video questions to investedinyou foxbusiness. Com. Look at facebook. I think this is premarket. We got a premarket quote of another four bucks, nearly 2 up again. This follows their statement about facebook shots. Big deal. Jim anderson, ceo of social flow, joins us now. I think this is the first real competition for amazon. What do you say . Yeah, definitely. The market has shown what it thinks of this. Facebook, they are a 70 billion revenue company. They have to make big moves and go after big competitors. Amazon is the one. Its perfectly timed given the pandemic. I think facebook was going to do this anyway but with Small Businesses being under such distress, this is really welltimed by facebook. Stuart let me make sure ive got this right. I go on facebook and i can then, with this facebook shops, i can buy stuff directly off my facebook account. Is that right . Yeah. Thats right. Well, off your facebook account, so you just got to a really interesting difference between what amazon is doing and what facebook is doing. Remember Facebooks Libra cryptocurrency, right. We talked about that. It sort of faded and it got a lot of political pushback. Thats fine. I think you start to see the vision that Mark Zuckerberg has. Payment is a big part of it. Normally when you go to amazon you use mastercard, visa or Something Like that so not only is facebook making a move towards amazon, facebook is making a move toward mastercard and visa because they want to be the payment engine. Ultimately you know they want you to use facebooks cryptocurrency to actually complete the purchase. Stuart well, okay. We have facebook up another 2 this morning. Its now at 234. Real fast question. Facebook bought gippy. Whats the deal there . The thing i found most remarkable is not the acquisition, it was the political pushback. You had bipartisan criticism from senators klobuchar and hawley saying oh, my goodness, facebook, im not sure cornering the market on animated gifs. Hardly seems that big of a deal. Its an interesting indicator that the antitrust concerns, big tech concerns, they may have faded as regulators and politicians have been understandably occupied with other issues, but theyre not gone. Facebook, amazon, apple, all of them are going to continue to face big tech scrutiny. Stuart all right. Jim, im glad we got you on today to talk about facebook. I think that is a blockbuster stock and story. Thanks, jim. Lefthand side of the screen, if youre watching on the radio, facebook is up another better than 2 this morning. It was up 6 yesterday. Thats a big deal. Now, we are winding down or winding up, i should say, to the opening of the market this thursday morning. We are going to be slightly lower, not by much, maybe 30 points down for the dow. Thats a big improvement over the course of the day. We didnt see much response to the 2. 4 million new jobless claims we saw about an hour ago. Not much reaction to that. Hes going to ring that bell. Here we go. The bell is ringing. That means when it stops, we will be trading. We are now trading. First, right out of the box, weve got the dow off about 30 points as expected. Not all the dow stocks have opened. We dont have a clear indication yet, but a slight down side move to the dow. A slight down side move to the s p 500. Thats down just two points. 2969 is the level. The nasdaq composite, maybe thats up no, its not, its down. 02 . Now its almost dead flat, totally unchanged. Watch those techs today. In fact, yeah, there you go. It just turned positive. Lets put them up for you. Facebook is up another four bucks. 234 on facebook. Amazons up six. Above 2500 a share. Microsoft is up just a fraction but its at 186. Tiny losses for apple, tiny loss for google. Now, i want to go through a whole series of stocks that we call lockdown winners. Im going to go through them for you. Amazon, netflix, walmart, target. A couple of them are down today but not by much. Amazon and target are up some more. They have already done very well. The next batch, home depot, lowes, they are both Home Improvement winners, very much winners, up again today. Etsy and wayfair, online retailers, they are up again today except etsy is basically dead flat. All of those stocks have done well in the lockdown. Peloton, they have done well. Chewy, the online pet retailer, they have done well. Some Consumer Staples like campbells soup, they have all done well in the past couple of weeks. They are all going up again this morning except for cal maine, down seven cents. I have news on amazon. I think its about prime day. Susan . Susan takes place in july, but obviously this year is a little bit different with covid19. According to the wall street journal, jeff bezos made that call to delay prime day this year which is their 48hour shopping extravaganza. Now its returning in september instead and prime day is when you get those 50 firesticks and fire tv and amazon dot echoes. They sell a lot during that period. 7 billion in sales last year, 175 million items, they say, which is up from 71 from the year before so this is shall we say premier shopping event for amazon for their prime customers, who shell out 100 a year for their membership. Stuart lefthand side of the screen, for our radio listeners, 2501 a share. 2502 a share. Susan we should point out we hit a record high yesterday and this is adding to it. Amazon, you just cant stop this stock. Stuart you got that right. Next i will put some retailers on your screen. Best buy, tj maxx, l brands. They all came out with their Financial Report this morning. Lauren, take me through them, please. Start with best buy. Lauren okay. Best buy did phenomenal in the quarter. Online sales were up 155 , making up 42 of all of their sales. The stock is being punished today because still, stores were closed and you sometimes cant make up for that lost business. Tjx which owns marshalls and home goods and tj maxx, shut down their online operation in the quarter. They made a gamble saying that you know what, when people return to the stores, they are going to want to go through all of our items and find the best bargain. They said that for the stores that have opened, one week in, they are doing phenomenal. That stock is up 8. 2 . Finally, l brands, this is not good news, but the stock is responding positively to the fact the struggling owner of victorias secret is closing 250 Victoria Secret stores in north america and 50 Bath Body Works in north america. Bath body is the stronger part of the chain, soap, Hand Sanitizer. You see how thats more popular now. Stuart i like that tj maxx gamble, shut down the online. Lauren you think its going to work . Stuart look, the stock is up 8 . For a retailer in this day and age, that aint bad. Looks like its worked. Thats what ive got to say. How about expedia . Susan, revenue down, that was to be expected. Any bright spot in expedia . Susan yes. There are obviously bright spots. Like a lot of other companies, the year actually started out pretty good in january, then covid19 hit. We have revenue down some 15 in those three months but they use the term green shoots. Remember that . That was what we used during the european sovereign debt crisis a few years ago. They said they have slight recovery, some green shoots in the month of may. We know that expedia has been down about 26 this year, being hit pretty hard along with the rest of the travel industry, so they have cashed up. They raised about 3 billion in cash to hopefully stem them over when people start traveling once again. Heres something for you that i found very interesting. You know soros hedge fund. Wells fargo, morgan stanley, you know what they bought into which really surprised me . They bought into Bookings Holdings which is a big Online Travel company. There might be some recovery taking place at cheap prices. Stuart they rushed in for a very cheap price, obviously. Thats the move they made. Expedia down a buck at 78 this morning. Overall, the market is flat to slightly lower. I think thats the best description. Look at that. We are only down 13, 17 points. Thats it. The level, 24,562. Couple more indicators. First off, the tenyear treasury yield,. 666 this morning. Checking the price of gold, where is that . 1738 per ounce. Checking the price of oil, wheres that . 34. 54. Thats been on a roll. How about Aurora Cannabis . That stock is up 26 . The Company Makes an acquisition to enter the u. S. Market. Investors love it. Aurora cannabis, 16 bucks, up 26 . Now, facebook and amazon, both hitting alltime high. This is astonishing. A company the size of facebook is up another 2 . 4, almost 5. It was up 13 yesterday. Facebook is on a roll with that Shopping Channel as i call it. Amazon, 2514 a share. How about that. Next one. Fox business, an alert for you. Happening at the top of the 11 00 hour this morning, treasury secretary Steven Mnuchin speaks to members of congress and Health Experts on advancing our economy. Get any headlines and you will get them real fast. Thats a promise. Floridas Governor Desantis has had enough of the medias portrayal of his states virus response. Watch his scathing rebuke. Roll tape. We succeeded and i think that people just dont want to recognize it because it challenges their narrative. Stuart as you saw there, Vice President mike pence standing right next to the governor of florida, and mike pence, the Vice President , will join me exclusively next. Stay there, please. Hey, can i. Hold on one second. Sure. Okay. Okay safe drivers save 40 guys guys check it out. Safe drivers save 40 safe drivers save 40 safe drivers save 40 thats safe drivers save 40 . It is, thats safe drivers save 40 . Hes right there. Its him hes here. Hes right here. Hi hi. Hey thats totally him. Its him thats totally the guy. Safe drivers do save 40 . Click or call for a quote today. Many of lifes moments in thare being put on hold. Are staying at home, safe drivers do save 40 . At carvana, we understand that, for some, getting a car just cant wait. To help, were giving our customers up to 90 days to make their first payment. Shop online from the comfort of your couch, and get your car with touchless delivery to keep you safe. And for even Greater Peace of mind, all carvana cars come with a sevenday return policy. So, if you need to keep moving, were here for you. At carvana the safer way to buy a car. We were paying an arm and a leg for postage. I remember setting up shipstation. One or two clicks and everything was up and running. I was printing out labels and saving money. Shipstation saves us so much time. It makes it really easy and seamless. Pick an order, print everything you need, slap the label onto the box, and its ready to go. Our costs for shipping were cut in half. Just like that. Shipstation. The 1 choice of online sellers. Go to shipstation. Com tv and get 2 months free. Stuart okay. We have started the turnaround. Look at that. Just in the last couple seconds, we now have the dow industrials up 40 points, the s p is up three and the nasdaq composite is up 17 points. You got that right. Weve got a turnaround. Forgive me, folks. I have to just fix my ifb as its called so i can hear people talking to me. I fixed it. Do we have the Vice President . Okay. Im not hearing anybody. Okay. Lets go to facebook and amazon right now. Both of them are hitting alltime highs. I keep on about this but this is a very big deal. These are two Gigantic Companies and they both keep moving up, im particularly interested in facebook because they just keep on going up and up and up. Theres a gentleman working on my earpiece as we speak. You want to put me back on camera, you will see john, our esteemed audio man trying to figure out how to get there you go. Thats john, by the way. I will be back in touch with everybody very shortly. Meanwhile, look at that. Now, facebook is up nearly 3 , 7 a share on the upside. Investors are watching this program because i think that is a really really big deal. 236 on facebook right now. Amazon, an alltime record high, clearly. 2524 per share. Thats a gain of 26. Its up another 1 . There you have it. A turnaround right from the opening bell this morning. We were down to start with, now we are on the upside, powered again largely by big tech, i think. Thats whats going on here. Weve got again, facebook at 237 now, up 7. Okay. Heres whats happening, folks. We are waiting for Vice President pence. Hes going to join us momentarily. We are going to be talking about the situation in florida, we will talk about reopening the economy, how fast can we do it, as fast as possible, in my opinion. We are talking about the front page of todays New York Post which called upon the mayor of new york, open it up now. We cant take this much longer. New york city is essentially flat on its back. Theres the headline. Look at that. It needs to end now. Thats the New York Post. We had the writer on the show a few moments ago. This is part of the revolt. This is part of this move to open up our economy now as fast as possible, because we cant take the pain of this shutdown. Furthermore, weve got a letter from 600 doctors sent to President Trump which details the social cost of keeping the lockdown going. There is enormous social cost. Alcoholism, abusive people to each other as they are locked up together, all kinds of health problems, people cannot get all kinds of checks for various conditions, and some people have been without these checks for about three months. You see john there, trying to get me back in touch. Can you hear me now . Can you talk to me . Can we do that . Yes, i can hear you. Heres what im being told. We are going to go to a commercial break so we can make some money. Then we will have the Vice President after that. Lets be honest. Quitting smoking is hard. Like, quitting every monday hard. Quitting feels so big. So try making it smaller, and youll be surprised at how easily starting small can lead to something big. Start stopping with nicorette. A lot of people in your profession who waxed poetically for weeks and weeks about how florida was going to be just like new york, wait two weeks, florida is going to be next, just like italy, wait two weeks. Hell, we are eight weeks away from that and it hasnt happened. Weve succeeded and i think that people just dont want to recognize it because it challenges their narrative, it challenges their assumption so theyve got to try to find a boogeyman. Stuart thats Governor Ron Desantis of florida, slamming the media who have been very critical of his handling of the virus. The man standing next to him was of course the Vice President of the United States, mike pence, and the Vice President joins us now. Mr. Vice president , welcome to the show. Very good to see you, sir. Good to see you, stuart. Thank you. Stuart if i may, i would like to start with this headline from today. It says lockdown delays cost at least 36,000 lives, data show. Whats your response to that, bearing in mind what we heard from Governor Desantis . Well, i was in florida yesterday with Governor Desantis. I will be in georgia tomorrow. Because of the leadership that President Trump provided, starting in january, when he suspended all travel from china, when he stood up the White House Coronavirus task force, began screening passengers from china and then as you know, stuart, we eventually closed down travel from europe, screened passengers from italy and south korea, we bought an extraordinarily important amount of time so that in early march, we actually had only some 14 cases of domestic transmission of actual spread in the United States, but even though most experts in early march were suggesting that the risk was low to americans, it would be on march 15th, the president made again an unprecedented decision to put the health and safety of america first. We published 15 days to slow the spread and because of what the American People have done, not for 15 days but for those 45 days, we are now in a position where all 50 states have begun to reopen this economy. The cases are going down. Most importantly, fatalities are going down. Even as we stay on more and more testing, the positive rate is declining around the country. Its a tribute to the president s leadership. Its a tribute to the American People, the sacrifices that they have made but what i saw in florida yesterday is the American People are ready to get back to work and they know that we can do it in a safe and responsible way. Stuart we have been reporting on what we call a revolt all around the country. Business owners defying lockdown orders and opening up and taking the consequences. Its a revolt. Do you support that revolt . Well, look, we believe in freedom in this country and the American People were willing to put the health of their family members, their neighbors, especially the most vulnerable among us, seniors with serious Underlying Health conditions, first. The American People made the sacrifices necessary and i have no doubt that modeling on the front pages this morning notwithstanding, that the actions President Trump took in january, the actions that he took every day forward, the actions the American People took in those 45 days did slow the spread, theres no question that we bent the curve, we saved lives and even though we grieve the loss of more than 93,000 americans, their families are in our hearts, they will always be in our prayers, i know what the American People did made a difference so that more families would be spared that grief and that heartache, and now we know how to continue to step forward. And i have to tell you, i spoke to the governor of arkansas yesterday. All Retail Operations are open in his state. The American People are demonstrating that we are willing to do what it took to protect Peoples Health and wellbeing, to respond to the president s leadership and the leadership of governors around the country, but now the American People are calling for a restoration of our economy, and remember, stuart, your viewers know this because you have covered it so well, this is not a choice between the health of the American Public and the economy. This is a choice between health and health. A growing economy contributes to the physical and Emotional Wellbeing of the American Public and i can tell you visiting and delivering supplies to a nursing home in florida yesterday with Governor Desantis, stopping by a local burger place and grabbing a hamburger in florida yesterday, having the opportunity to meet with these incredible tourist and attraction companies in florida like disney and sea world and universal, there have been real world impacts people are feeling right now, and they know the best thing we can do for america is to safely and responsibly reopen our country and put america back to work, and we are going to partner with every governor to give them the data, the information and the guidance to do that responsibly. Stuart mr. Vice president , i have to ask, the mask question. Because today, President Trump will visit ford plant in michigan. He didnt wear a mask last week when he toured a medical supply company in pennsylvania. Lots of comment about that. Do you have any knowledge as to whether he will wear a mask today, since all of the ford employees are required to wear a mask . Well, the president made it clear that he would make that decision on a situational basis, and im very confident the president will take the guidance of the white house physicians about whats most appropriate. I mean, we put no higher priority than on the health and wellbeing of the president of the United States of america as he continues to lead this nation. Im sure hell comply with the guidance from white house physicians and maintain the kind of practice today as he visits that incredible facility in michigan thats playing such a vital role in standing up the resources that we have needed to respond. You know, it is an amazing thing to think about it, stuart, because i had a chance to visit Ge Health Care in wisconsin, i had a chance to visit a facility in indiana that we brought together with General Motors and ge and now with ford that are now building ventilators. We will actually have 110,000 ventilators constructed in 100 days, and i think its nothing short of a national accomplishment that no american who required a ventilator in this country was ever denied a ventilator. Because of this president s leadership, we stood up the equipment, we stood up the supplies, we have scaled testing all across the country and as we see cases going down, positive rates going down, most importantly, fatalities going down around the country, its a tribute to the American People, tribute to governors around the country, but this incredible private sector that you talk about every day stepped forward and delivered for the American People, and i think every american should be proud. Stuart mr. Vice president , mike pence, thank you very much for joining us, sir. It really is appreciated. Thank you. Thank you, stuart. Stuart yes, sir. Okay. Remember this . New jersey gym refused to stay closed during the lockdown. Well, they have been officially shut down as of this morning. The owners are just trying to make a living during this pandemic. They are all trying to get back to normal just like us. They shut down. We will bring you the latest on that. New york city facing catastrophic job losses and its now resparking criticism of aoc. Shes the one who killed thousands of potential jobs from amazon. Im going to go right at that in my take, which is next. Look, this isnt my first rodeo and let me tell you something, i wouldnt be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. Its just a loan designed for older homeowners, and, its helped over a million americans. 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Act now while home values are high and Interest Rates are low. Look, reverse mortgages arent for everyone but i think ive been round long enough to know whats what. Im proud to be part of aag, i trust em, i think you can too. Trust aag for the best reverse mortgage solutions. Call now so you can. Retire better stuart almost exactly 10 00 eastern time. Check the market. Weve been open for half an hour. Earlier this morning we got news 2. 4 million went on to the unemployment lines in the last week which means a total of 38. 6 Million People lost their jobs in the last eight weeks. Thats a big number. Now weve got the latest read. Very interesting for realtors. Existing home sales, susan, what have you got . Susan down 17. 8 in the month of april, actually better than what the Real Estate Market was anticipating especially in these covid types. But were looking at one of the worst numbers weve seen since 2010. Actual number of home sales, 4. 33 million was the annualized rate. You might find this interesting, home prices despite the fact you have sales falling went up. Were looking average home for price for existing homes. The reason why that happens, i asked a lot of people because you have very low, record low Mortgage Rates and there is still a little bit of supply, less supply in the markets. So peep still have to bid up for the homes they can buy. Stuart this is what Ashley Webster lives for, thursday morning, 10 00 eastern time, Mortgage Rates. What have you got. Ashley doesnt get better, stu, on the edge of my seat. This year, 30 year fixed rates average 3. 24 . That is down from 3. 28 . It is the fourth week in a row where weve seen the rates below 3. 3 . We have seen states slowly reopened, purchase demand has started to pick up. In fact were at a level right now that was comparable to this time last year. So we have come up. Low rates should be tempting more people to get into the market as the economy tries to slowly recover. Stuart 3. 24 , how about that . Interesting. I want to bring in mesh rochelle, expert on tire Real Estate Market. Can you tell me with some degree of certainty whether well see a real comeback this summer in . I think we will. I will give you my degree of certainty. We all have cabin fever as we do this from their home. One thing about cabin fever, everybody dreams about having a bigger cabin. As soon as states start lessening restrictions and letting people out and tour and god forbid we do open houses i think well see a lot of pickup. In fact more People Living in urban areas, theyre anxious to start exploring raising their families out of cities. Well see robust, late spring, housing market. Stuart we hear you. But i cant believe you will see a real resurgence in sales in new york, new jersey, connecticut. Illinois. Theyre lockdown states. They have all suffered horribly from the lockdown itself. Are you predicting a rebound in home sales in those states . I think you will see activity there. I dont think they will be locked down. I spoke to realtors in the past week, they told me they actually sold houses in those markets, sight unseen, by people who have done virtual tours. I think that is a little risky. I think that is more exception than the rule. Places like florida, places like texas, more relaxed will probably see considerably more volume just as function the fact there is more commerce going on, more opportunities to do things, i think you will see more activity there. Stuart let me throw my opinion right at you. I think there is going to be a cooling of our enthusiasm for stocks and an increase in our enthusiasm for investments in estate. A switch in investment vehicles a little bit of switch. What do you say . I agree with you, stuart. I looked at this on the commercial real estate time and Residential Real Estate time, if you look back to the biblical times only ways people a accumulated rate. One is real estate and the other one is precious metals. I think that includes everything stocks and bondses are in right now. Difficult times people tend to rotate out of assets that tend to fluctuate in value towards real estate. You are 100 correct about that you have thousands of years of history behind you. Stuart okay. Mitch rochelle thanks for joining us. We appreciate it. You bet, sir. Stuart check out the market. We received a 17 drop in existing home sales. We received also word on leading indicators but it didnt make that much of a difference to the dow. Were still up 40 points, a fractional loss on the s p and also on the nasdaq composite. Well do a quick check on expedia, the travel company, halted. The company lost 1. 3 billion worth of revenue in the first quarter. The stock is halted i might add, halted. Get that news out there. Sorry, it is not halted. I should seen that. It is not halted. It is heading sharply lower. Got that. Best buy, their revenue was down 580 million compared to last year. There was a surge in people setting up remote work. Samestore sales were down 5. 3 . Best buy is down 2. 25 . We have l brands. Theyre up big because theyre closing 250 Victoria Secret stores. Theyre up 15 . Look at that. More retail news, this time coming from the gap. What is this, lauren, robots . Lauren robots dont get sick like many warehouse workers are making more money. Theyre considered essential. Gap invested more in robots, tripling the order by the fall. Theyre eight feel tall. They are made by kindred a. I. They will move items. They pass boxes. They dont get sick. Pandemics and auto mated results speed up technology. We need technology. The flipside what happens to the human jobs which are bleeding workers. Stuart were up 42 points on the Dow Jones Industrial average. There you have it, the level, 24,600. All right . Now this. Remember when amazon wanted to bring tens of thousands of liepaying jobs to new york city. I am sure you remember alexandria ocasiocortez killing that deal. She didnt like amazon or super wealthy jeff bezos. The jobs went elsewhere. Perhaps the city is it having second thoughts. The virus killed the economy here. Millions are unemployment. Gee, wouldnt it be nice to have the 25,000 amazon people in the city earning a big pay choke. Even the democratleaning daily news suggest a little remorse is order. Aoc doesnt want america to go back to work. Why work in an unequal society. That is what she says. She wants to educate us all so we move toward a general strike. Despite such inflammatory language or perhaps because of it, aoc has been named can he cochair of joe bidens Climate Committee. She is one of the authors of the green new deal. That is transport national for our society of super green form of socialism. I cant wait. All this comes to the surface when nearly 40 Million People are thrown on the unemployment lines the last two months. Not all of those jobs will come back. What we desperately need is job creation. You dont get that by rejecting amazons of this world and dont get it banning all fossil fuels. We eager await a serious policy discussion from joe biden. What input will he get from aoc. Will he like new york come to regret taking her advice . It an open question. I have a poll for you surprises me from quinnipiac. Says joe biden has 11 point lead over President Trump. Lisa boothe joins us. Well get to aoc in a moment. Can you deal with the 11 point lead for joe biden over President Trump. What is going on . You can, stuart, what you laid out in the moan log what the 2020 election is going to be about. All the pundits, everyone saying right now the election will be a referendum on President Trumps handling of the coronavirus it will not. The election will be about jobs. 36 million americans are unemployed. Over 100,000 Small Businesses have closed their doors forever. How many more are there going to be . How many more people unemployed heading into the election. President trump is the jobs president. That is what he ran on. He can easily say i created a stronger economy than the guy before me, than president obama did. We were thriving. I can do it again. And the problem with joe biden he is running as continuation of the previous president , of obama. Which wasnt, it was not the economy that trump created. President trump was able to create a strong economy. He has that message heading into 2020. That is where he shines talking about the economy, talking about jobs. Stuart it could be that the left, with aoc as the cochair of the Climate Committee and the leftwing influence on joe biden very, very strong, it could be they will put out, you will get free money. You vote for us, you get free money, like 2,000 per household per month, per adult per month. Maybe, lisa, that is a very attractive prospect at a time when you have got massive unemployment. Maybe we shouldnt discount the attraction of free money . Maybe it works politically . But it didnt in the democratic primary. The choice came between Bernie Sanders between all the things you laid out and joe biden and joe biden won. The problem, presumed almost the nominee, but here is the thing as well, i think joe biden putting aoc on his Climate Committee is actually reflection of an identity crisis. Joe biden is not rooted in anything. You look at the fact he changed his position on immigration, china, even on the hyde amendment, taxpayerfunded abortions, something, a deeply held belief he had for decades he abandoned for political expediency. That is the reason why if you look at polling joe biden has a lack of enthusiasm in his candidacy. How can you be excited about someone you dont know what they believe, you dont know what this candidate is all about. This election will come down to jobs. That President Trumps strength. If you look at a infrastructure and campaign perspective. If joe bidens campaign cant run virtual rallies efficiently, how are they special towed run a president ial campaign . Stuart i think that is a fair question to ask, lisa boothe. Thanks, lisa. Thank you very much so. Talk about the revolt. It is ongoing. That gym in new jersey that defied the governors lockdown order. They reopened. It has now been shut down by the states Health Department due to what is called a sewage leak. One of the owners will join us on this program in our next hour. Well sort this one out for you. This cover of todays New York Post, the front page. The big apple is dying. The lockdown needs to end now. Here is what the person who wrote that told us last hour. Roll tape. I think it is been bubbling up now to an extent where we need to be able to have this conversation because people in new york are going hungry. They cant pay their rent. Their businesses are closing, people cant get cancer screenings. There is an economic and a human toll. Stuart lisa, are you still with us you think. The revolt is growing. I am. Stuart that was a dramatic front page. Theyre absolutely right. And i think what is so frustrating about the Recovery Process from the pandemic a lot of it is selfinflicted and a lot of politicians ignorant to the data in front of them. Ignorant to the date that that this disproportionately people in Nursing Homes as opposed to young and healthy individuals. Do they really fail to use logic in approaching the coronavirus. So it is certainly is time to reopen the economy. So i mean, that just has been my frustration this entire time, looking at the data, looking at the policy decisions made by many of our leaders not having those aligned. Stuart fair enough. Now well see good morning to you, lisa boothe and well see you again real soon. Lisa, thank you very much indeed. Good stuff. Thank you, stuart. Have a good day. Stuart i shall indeed. Vice president pence told me the revolt is reopen, the revolt toe reopen i should say is growing. People want to get back to work. More from my interview coming up for you. Senator John Barrasso is reversing course. He says we need another virus relief bill. He said we need a pause in spending couple weeks ago. He will join us shortly. Why the change . The cdc changed guidance whether the virus can spread through on surfaces. We have that news for you. The second hour of Varney Company just getting started. You wouldnt accept an incomplete job from anyone else. So why accept it from your allergy pills . Flonase relieves your worst symptoms which most pills dont. Get allinone allergy relief for 24 hours, with flonase. The American People are calling for a restoration of our economy and remember, stuart, your viewers know this because you have covered it so well, this is not a choice between the health of the American Public and the economy. This is a choice between health and health. Stuart thats the Vice President earlier on in the program talking about the revolt and where it is going. It didnt have any impact on the market although the market is now nicely higher, up 105 points for the Dow Jones Industrial average. Investors clearly like the idea of getting back to work and the revolt against the lockdown. They like it. Were up 108. Boeing, thats leading the dow. Rbc, an investment company, says the price target is now 164 a share. Currently it is 142. It is up nine bucks. That is 7 . Big gain for boeing. Open up story, what is starbucks doing. Susan Ceo Kevin Johnson says sales in the u. S. Were back up to where they were, 60, to 65 of their normal sales, they reopened 08, to 85 of the stores and cafes across america. They were targeting 90 in june. They are definitely on target to do better than that. As for china, looks like sales were back up to 80 percent of what they were a year ago before coronavirus hit. They lost 900 million during the shutdown. Given shutdowns in the two biggest markets the u. S. And china, i think the numbers are still pretty positive. The stock is close up to 1 1 2, 1. 25 today. This is pretty much what you can anticipate when you have the economies and states starting to reopen and big business getting back to normal. This is pretty good news for americans out there. Stuart it is a reopening of the economy news story, that is what it is. Starbucks benefiting, as you say susan, up 1. 25 for starbucks. Stuart how about a rescue package for the economy. Our next guest says we need another relief bill. Wyoming senator, John Barrasso, joins us now. Mr. Senator, what happened to your pause on spending you were favor on this program a couple weeks ago . Im still in favor for the pause, stuart. We have 38 million americans out of work. We need to get them back to work. We need to make sure the economy reopens. That is the most important thing we need to do for our country and we need to do it smartly, safely and we need to do it soon. That is what im talking about. If we need another piece of legislation, it needs to include Liability Protection for our Small Businesses so they can in wyoming, all across the country, safely reopen sooner without the threat of the lawsuits that are already being filed around the country by the sue and settle lawyers who are sharpening their knives and are right now advertising broadly, essentially saying, if you have had coronavirus, call us for a free consult, there is likely someone you can sue. Stuart, that puts a heavy wet blanket on the opportunity for some of these momandpop operations to reopen. Stuart if you get a new rescue package, would you be in favor of aid to some of the states, but not aid to the states to fix their preexisting pension condition . The states have already gotten 150 billion, most of that money has gone to the states, but has not yet gone out to the intended recipients around the states. So if there is any additional money to states, number one, i prefer just giving more flexibility to the states, with the 150 billion they have already received in terms of how they spend that. But we cannot be paying for years and years of mismanagement by states over those years. Nothing for that, stuart, at all. Stuart senator, youre a doctor. A lot of our viewers do not know that but you are a doctor. What do you make of that letter from 600 doctors to the president , telling the president look, you got to open up the economy because the social costs of the lockdown are just, it says here, the millions of casualties of a continued shutdown will be hiding in plain sight, alcoholism, homelessness, suicide, heart attack, stroke, kidney failure. That is a heartfelt call for the doctors to reopen fast. Im sure youre in favor of that. I agree with the doctors. I met with the president. A number of us had lunch with the president on tuesday. This absolutely came up. We know if there is longterm unemployment, many people unemployed, absolutely it leads to higher incidents of suicide but also of abuse. Spouse abuse, child abuse, substance abuse. All of those things are harmful to an economy and to people, and a community and a state and a nation. That is why it is so critically important we get this country open, back to work. It is the best thing we can do for the citizens, their economic health, their physical health, their mental health, all across the board. We need to get america opened again. Stuart what we saw coming from nancy pelosi in terms of the house, it is pelosis 3 trilliondollar political playbook. There is no room for that. You know they mentioned, what, marijuana, cannabis, more times than they mentioned jobs . Didnt help opening the economy but it provided direct financial payment to illegal immigrants. Money for Environmental Justice in the National Endowment for the arts and humanities. What does that to do with getting our country back to work with coronavirus and fighting disease and helping america regain the stability and strength that we have as a nation . Stuart mr. Senator, John Barrasso, always appreciate it. See you again. Thank you, stuart. Stuart yes, sir. The revolt, the revolt against the lockdown, it is growing. A mayor in california of all places is putting his foot down and putting an end to what he calls draconian lockdown rules. The mayor will join us in our next hour. The cdc, updating guidelines how easily the virus spreads on surfaces. Well have details on that for you coming up. Its a thirteenhour flight, thats not a weekend trip. Fifteen minutes until we board. Oh yeah, we gotta take off. You downloaded the Td Ameritrade mobile app so you can quickly check the markets . Yeah, actually im taking one last look at my dashboard before we board. Excellent. And you have thinkorswim mobile so i can finish analyzing the risk on this position. You two are all set. Have a great flight. Thanks. Well see ya. Ah, theyre getting so smart. Choose the app that fits your investing style. Stuart all right. The market on the upside. 24,600 as we speak. The democrat governor of michigan, gretchen whitmer, just rolling back some restrictions in her draconian lockdown state. What is she rolling back, ashley . Ashley yes. Which prompted some pretty strong protests. She said now gatherings of 10 people or fewer can begin immediately. Groups of 10 or fewer can meet immediately. She says auto dealers and retail openings can begin on may 26. And dental offices even for nonemergency procedures can open on may 29th. So, maybe a little bit of a succumbing to the pressure she has been under in michigan, significant pressure to get reopened. Stuart all right. How about South Carolina . I believe there are some restrictions being lifted there. What can you tell us . Yeah. The attraction facilities. Were talking about zoos, museums, water parks, amusement parks will be allowed to reopen today, ahead of the memorial day weekend. That is good news. Governor henry mcmaster, the republican there will be sneeze guards in place at all points of sale locations and Guest Service stations, encouraging guests to wear masks. The parks will have to monitor the crowd levels. Just another sign, South Carolina, things just ahead of the memorial day weekend can slowly reopen and perhaps get back to some sort of normalcy. Stuart i think memorial day weekend is pushing a lot of restrictions being taken off. You pretty much have to. Ashley yeah. Stuart dr. Marc siegel is back with us. Doctor, i want to talk about the cdc which now says the virus cannot spread easily on surfaces. Important stuff, straighten us out. Very, very important, very good news. I think the cdc has some trouble with messaging, stuart because this is a respiratory virus and mostly passed persontoperson by cough and sneeze, by close contact. But there was a study about a month ago in the new england journal of medicine that made it look like it could live on surfaces for several hours. People worried while i get it from my package or my elevator button. But now, more and more cases accumulated looked like it is gardenvariety of sneeze and cough. Somebody touching you, somebody very close. That should aid us in reopening, as a matter of fact. Ashley just said, theyre reopening places you we worry am i getting it on a surface there . But looks like more and more you are not going to. You have to watch out for coughs and sneezes. If youre sick you have to wear a mask, wear a mask in close quarters. Wash your hands, disinfect all of that, not surfaces way they were concerned. A huge relief for people doing take out, getting packages, a huge relief. Stuart sure is. Doc siegel, should pay you extra for doing overtime. The second appearance in couple hours. Thank you, marc. Joined by another mark, mark grant. I will do a different kind ever interview with mr. Grant. He is a hotshot phonessal advisor. He is a main, a big guy on wall street, put it like that. Yeah, you are, dont be shy. You offered your Financial Advice to our viewers i think a week or so ago. Did you get a big response . Did a lot of people get in touch with you . Stuart, i got a very big response. What happened when i tried to make clear is, you know, you see all kinds of buy this stock at five, it is going to 10. About six years ago some people i know came and said help, and i invented the strategy that uses Investment Grade Corporate Bonds, maturing in five to 10 years, coupled with closed end funds in the energy space, the bond space, the health care space, the loan space and the closed end funds, stuart, that i like, there are about 15, all pay doubledigit yields and they all pay monthly. So here is money every month in your account and it is a combination as i said of the Corporate Bonds and closed end funds but here you have money every month. Stuart but is it safe . A lot of people myself included dont know much about closed end funds like this, it is not part of our turf we recover. You talk about a doubledigit return, is that safe going into the future . In my opinion, stuart, not like u. S. Treasurys, there is always risk in everything, closed end funds, along with etfs, mutual funds, closed end funds are the least known about because manager doesnt make anymore if people buy it. If you put these two together, you can get a very nice return around money every month in pure account which, you know, senior retiree, pension fund, i think that is what theyre looking for more than hoping that the market is going up or that a individual stock is going to go up. Stuart a hotshot like you did not charge all these people who got in touch with you, give them, you didnt charge them a dime . So i tell you exactly. I dont charge any Money Management fee. There is a small markup in the bonds, i charge five cents a share on closed end funds. But i do not charge your viewers, your viewers any Money Management fee at all, zero. How is that . Stuart that is pretty good. I like the hand gesture. For you. Sew cool. Mark grant, i think youre all right. I will put the address up on the screen, if it is okay with you, email address, so our people can get in touch with you if they wish. Put it up on the screen please, so i can read it. There we go. Mark grant at bloomberg. Net, is that it, mark, is that it . Thats it. Stuart watch out you will be deluged i hope. We have great viewers out there. Thank you very much, mark. See you soon. Thank you, stuart. Stuart remind everybody again, next thursday may 28th in the 11 00 hour, virtual town hall on this program. Dave ramsey, ken hogan, chris hogan, the Ramsey Solutions team. The big deal here, you send in your video questions, it is easy, investedinyou foxbusiness. Com. We would really like to know what would you want to know about . Check that market please, we lost all the gain, it is gone, all across the board. It is gone. I dont know what happened. Were down not that much, a fraction for the dow, s p. The nasdaq is down. 68 , two thirds of a percent. Way fair is a big winner during the crisis. A lot of people buy Patio Furniture from them. The stock is down. It had a thighs run. Grady trimble will join us. He will join us about the backyard boom for Patio Furniture. What will you tell us . I was shocked by the mask of the what will you tell us, grady . Reporter were in illinois. We have to keep these on in retail places. Youre not going to that tropical destination but why not bring it to your own home. They have dining room sets, fire pits. Dan is the owner of northwest meadow. You see people expanding that backyard empire. Of course. They have to stay at home. Fire pits are great. Deep seating sets. Not just a traditional dining set. Were looking buying something we relax and lounge in, enjoy yourself, be comfortable. Fire pit is a great way to do that, it brings the family together. You can sit and relax. Reporter you said there is emergence of people wanting to get outside. Weather getting nicer in states like illinois. They just want to get out. They want to enjoy the outside. There will be so many events. Go to 9 backyard to enjoy yourself. You will have friends, not that many maybe but have them over. Reporter thanks, stu. I will send it back to you. I will lounge here rest of the day. Stuart i like to see a boom in sales of anything. You struck, put your finger on there. All right, grady. Move on. We actually have, this is extraordinary, bipartisan agreement to bring to you, two congressman, democrat, republican, working to fix whatever is wrong with the ppp theyre both with us next. Plus tiger woods returns to the golf course with Phil Mickelson, tom brady, Peyton Manning, it is happening this weekend. We have tigers agent on the show coming up for you. Im greg, im 68 years old. I do motivational speaking in addition to the substitute teaching. I honestly feel that thats my calling to give back to younger people. 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In the last 36 hours that stock has gained, let me see now, that is in the best, about . For Facebook Company that is huge. Amazon, wall street journal says it will move prime day to september. The stock is down 28 points. That is 1 . Netflix, that is down today 14, 3 but i should tell you it gained about 30 just since the beginning of the lockdown. A little bit of a pullback today. The pull back in amazon and netflix that is hurting the nasdaq, i agree. There is a bipartisan plan to report for you. It is a bipartisan plan to fix problems with the payment protection program. Joining us now, we have both congressman who are working on it. Congressman dean phillips, democrat from minnesota, chip roy, republican from texas. Congressman phillips, to you first if i may. What is the biggest problem you see right now with the ppp . Well, stuart, there are a lot of problems with the ppp. It was a good effort to begin with. But our job is are to listen to constituents and Small Businesses. Chip and i have done that in texas, minnesota. What weigh hear consistently over the next couple weeks is eight week period is too short. We should extend that. 7525 rule, 75 of resources spent on payroll. All businesses are not created the same. We need more flexibility on that. The loan term of two years is a problem. Safe harbor issues, and extend period of time businesses can hire employees. Payroll tax deferment. That is key parts of the bill and what were taking action on. Stuart congressman roy, if i can translate into plain english, running a restaurant im getting help from the ppp but i have got to bring everybody back to work before i can get the loan forgiven, before it become as grant, but if my capacity is fixed at what, 25 or 50 , im not going to make money, im guaranteed to make a loss. Are you going to fix that . Well, stuart, you put your finger on the problem, the key problem, making sure that america opens up again. We need to let america open so businesses can have people in the restaurants. Hotels can have heads on pillows. Theyre working hard on that. But dean and i are working hard to insure the dollars in the ppp which senator rubio, and those pushed it through the senate and the house, we should be applauding we have 650 billion out there available for Small Businesses but the key is, can they use it . And the problem is, as you know, stuart, when the senate pushed through, the house adopted an unemployment payment, Unemployment Insurance provision paid people more not to work than to work, were forcing Small Businesses, restaurants into a difficult choice where they cant get loan forgiveness that will help them stay afloat because theyre stuck. This, our bills gives them the flexibility to make it work for their business, be able to take the loan, stay afloat, until we can achieve the goal youre outlining, getting people back in the restaurants. Get people back in the hotels get people back in live music venues. I represent 2300 restaurants, austin is live muse cake capital of the world. We need to get people back in there. Stuart thank you, gentlemen for joining us. So unusual to get a bipartisan deal. Thank you very much, gentlemen. Thanks, stuart. Thanks, stuart. Appreciate it. Stuart it is being billed as one of the biggest live Sports Events since the super bowl. Tiger woods, Peyton Manning face off in the golf course against tiger woods and tom brady. We have tiger woods agent with us next. Where will you go first . Will it be familiar streets . Or perhaps unknown roads. Wherever you may go lexus will welcome you back with exceptional offers. Find a lexus for every road at lexus. Com. Get zero percent financing and make no payments for up to 90 days on all 2020 lexus models. Experience amazing at your lexus dealer. Confident financial plans, calming financial plans, complete financial plans. Theyre all possible with a cfp® professional. Find yours at letsmakeaplan. Org. Theyre all possible with a cfp® professional. Robinwithout the commission fees. So, you can start investing today wherever you are even hanging with your dog. So, what are you waiting for . Download now and get your first stock on us. Robinhood. Im not as big big of a fan t the temperature check. If you eat three quick extra strength tylenol you can beat those tests. Were getting to the point, sean, well be able to do some testing and hopefully be able to play games. I dont think were ready for fans yet but let us take the first step. Stuart that was mark cuban, the mavericks owner with sean last night. Come on in please, ash, didnt he lay out a plan to get back playing again . Ashley well he did. He said, look, initially we could very well do what nascar did and what other sports are looking at, reopening with empty stadiums. Just have the games televised but as he said as we progress, he also said we could play some games outside. It happened before. That may be option to look at. Once we bring fans into the stadium, we could have a family quarantine section. No rhine why they cant be separated out inside of the stadiums. Be in special section. They live at home together. They can stay in the stands, sit next to each other that is one possibility. But again, the nba could not, may not be opening again until midjuly according to the commissioner. Well have to wait and see, probably before empty stadiums but mark cuban has some ideas including family sections. Stuart we need new ideas. That is not a bad one either. Thanks, ash. Sunday, lets do some sports here, champions for charity golf match. Four big stars, tiger woods, Peyton Manning, facing off against Phil Mickelson and tom brady. We have with us now, mark steyn berg. He is tiger woods agent. Mark, welcome back. Always good to see you. Stuart, good to be with you today. Stuart as i understand it these sports stars putting in some of their own money to go towards firstresponders, that accurate . You know, all money for this event is going to charity. Not one dime is going into the pockets of any of the four players. Stuart okay. Which was dramatically different from two years ago when tiger and phil faced off headtohead. So these four icons of their sport decided to come together and were going to guarranty a minimum of 10 million to covid relief. We think it could, could possibly even double that. Stuart im interested in the idea that they might make some side bets as they go around the course. Youre laughing but you know, that is going to get a lot of interest. Are we going to be able to hear the golfers say, i bet a million bucks you cant do this, is that the kind of thing were going to see . Youre going to see, ill tell you, stuart, youre going to see some fun. This isnt about, well of course they will want to win. You have four, highly, highly, juiced competitive athletes but this is really about getting out there and having fun, putting some smiles on peoples faces, that really need it right now. And yes, to answer your question, there will be some side bets. You will certainly be hearing a lot of that banter back and forth. Stuart are they going to wear masks . I asked the question because i want to hear what theyre saying on the course, you know, i got a feeling were going to see tiger, like we dont nor mali see him. He is a stern sort of fellow on the golf course. Is he going to lighten up with a mask or without a mask . So, good question. The players themselves, they will be very, very were following all the safety protocols via cdc, world health organization, the governor, local officials. So there will be very limited on site this sunday. The players will not be Wearing Masks but, the others on site will, so you will, you will, it will be very audible to hear the back and forth. Stuart am i going to see intense tiger as normally see him oral jovial tiger . I think youll see four pretty jovial icons, probably until the 16th or 17th hole, then they will amp it up to get a win. Stuart big deal to me is, youre using sports stars to lead the way back for sports in general. I think it is a terrific idea. Last word to you, mark. I appreciate that, stuart. It has been a Great Partnership with, with turner. They have been a great partner for the last two plus years and our company, excel sports and i heard what you were talking about with mark cuban who we know well, and as a friend. You know, he has some outside the box thinking which i think is great. If this leads the way to helping show other sports that this is possible and you can do some pretty unique things from a social distance standpoint and give some, some unique live programing, thats added benefit on top of all what were going to do for covid relief. Stuart mr. Woods agent on the show, with us now. Thanks for joining us sir. We appreciate it. Stay well, stuart. Stuart thank you, sir. Treasury secretary Steve Mnuchin speaks coming up at the top of the hour on a Virtual Summit on advancing the economy. Any news from that event you will hear it pronto. Thats a promise. Also ahead, hundreds of doctors writing a desperate plea to the president citing a mass casualty incident if this lockdown is not lifted soon. My take on that. Well also talk about the revolt. Plus the mayor of one California City is saying he is done enforcing the states lockdown. He is part of the revolt and he joins us in our next hour. Of 1,2,3 medicines with trelegy. 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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. Stuart it is 11 00 exactly here on the east coast. The markets have turned south but not by much. The biggest loss actually is on the nasdaq which is down just over a half percentage point. 2. 4 Million People joined the unemployment line last week. That means 38. 9 million have lost their jobs in the last nine weeks. Were looking for bright spots. We may have found one here. Weekly claims have consistently come down. That implies that the layoff trend has hit bottom. We can certainly hope so. We have this news for you. Three states easing lockdown restrictions today. In mississippi, casinos can reopen with some restrictions. In ohio, inside dining is allowed. No limit on capacity, but people need to stay six feet apart. There you go. Camping can reopen in ohio as well. In west virginia, indoor malls, tanning salons, camping and outdoor racing all get the green light in west virginia. Restaurants can open at 50 capacity. Earlier today, Vice President pence joined us. He said americans really do want to reopen the country. Roll it. The American People are calling for a restoration of our economy. This is not a choice between the health of the American Public and the economy. This is a choice between health and health and they know the best thing we can do for america is to safely and responsibly reopen our country and put america back to work and were going to partner with every governor to give them the data, the information and the guidance to do that responsibly. Stuart and finally, finally, an alert about the social costs of the lockdown. Its about time. Its been obvious from the start. The lockdown costs, costs lives. It certainly endangers your mental health. Heres the story. 600 doctors have signed a letter to the president. It says keeping businesses closed and Children Home from school creates quote, a mass casualty incident with quotes, exponentially growing health consequences. Oh, please, tell us how it is. Possibly are missing checkups that could have detected cancer or heart problems. The doctors warn about alcohol abuse. Thats understandable. You had a drinking problem before, you will be sorely tested when you are locked in the house for months on end. The doctors letter concludes that downstream Health Effects are being massively underestimated and underreported. Well said, please. Despite this enormous cost, the governor of new jersey says there will be no opening up until theres a vaccine. Thats months away. All right. Now look at the catastrophe known as the school shutdown. From march until at least august, and probably much longer, youngsters have been banned from the classroom. They are stuck in front of a screen at home, perhaps maybe getting help from parents who are themselves struggling. Truth is, for millions, there has been no educational progress at all. 2020 has been an education bust. Not to mention anxious kids, unsocialized kids. By the way, theres an outfit called the foundation for research on equal opportunity and it says children under 15 are six times more likely to die from the flu or pneumonia than covid19 and 128 times more likely to die in an accident. No wonder there are calls to open up. Heres the front cover of the New York Post. Quote, the big apple is dying, its streets are empty, tens of thousands have been plunged into poverty and in bold letters it says it needs to end now. Yes indeedy. We heard from the author of that piece, by the way, in our 9 00 hour, david marcus. It was an impassioned interview. Heres what he had to say about his fellow new yorkers. People in new york are going hungry. They cant pay their rent. Their businesses are closing, people cant get cancer screenings. Theres an economic and a human toll to maintaining this lockdown as well as to lifting it. Stuart strong stuff from the post and that editorial writer. Look whos here. That is kennedy, righthand side of the screen. Im sure you saw that front cover. I believe you live at least parttime in new york city. What do you think about this, open it up now. Kennedy yes, unfortunately we have here in new york and other parts of the country, we have fallen victim to the false dichotomy which is, you know, if we dont lock everything down and control every aspect of peoples lives, then many people will die and the truth has to be somewhere in the middle. Youve also got the governor of new york who so heartlessly forced Covid Patients into nursing facilities and thats like throwing a match in a dry forest. And you know, it was a conflagration of death and heartlessness and i think the governor here has to answer for that and to your point about schools, i think as a parent, i have two kids who go to great Public Schools here in new york city, but the problem is, you can have a couple months of stagnation. After that it becomes very very problematic. Take three months off, then what happens in the fall . No one knows because theres really no plan. This all or nothing mentality like you just pointed out, its incredibly dire and what we are sacrificing in the process is going to have very longterm implications. Stuart it really is. Those kids have lost this calendar year at school, basically. Thats what happened. Well have to deal with that another time. I want your take on this one. Morning joes Mika Brzezinski demanding that twitter shut down the president s twitter account. Watch this. Roll it, please. Donald, youre a sick person. Youre a sick person. To put this family through this, to put her husband through this, to do this just because youre mad at joe because joe got you again today, because he speaks the truth. Twitter, you shouldnt be allowing this and you should be taking these tweets down, and you should be ashamed of yourself. You will be hearing from me on this. Because this is b. S. Stuart kennedy, you are the ideal person to respond to this whole story. Go at it, please. Kennedy oh, look its karen brzezinski. This is not surprising. She has her bully pulpit. The president has his. They are both expressing their free speech. I dont necessarily agree with the way the president has gone after joe and mika, but also, i think above all of that, their personal beef and sort of the thoughtless impulsiveity that goes into this feud, freedom of speech reigns above all else. The president does have a right to express himself. I think jack dorsey would be incredibly foolish to continue monitoring mostly conservative accounts and really allow this to play out as it has. If the president has gone too far, he will pay in november during the president ial election. Mika can do a better job of laying out her case without demanding and trying to bully twitter into silencing the president. Stuart big picture for a second, kennedy, before we leave this. I think the most important thing in America Today is to restore free speech. Because i think its been taken off us in many respects, in many aspects of our lives. You with me . Kennedy absolutely. And the idea that words are deeds and words are in and of themselves violence, it really lessens the power of the individual to decide for themselves what is hurtful and what requires action. But you know, canceling people full stop is certainly not the answer. Stuart this is the United States of america and weve got a constitution and i want my fair speech. Kennedy damn skippy, stuart. Stuart i just cant say that legitimately with a british accent. It just doesnt work. Damn skippy, stuart. See you later, kennedy. Youre all right. Im going to focus on georgia. They have been reopened for 27 days now. New virus cases have risen by over 17,000. Congressman barry lowdermilk of georgia joins us now. How you feel about this . You opened up three, four weeks ago. Cases rise. Your answer to that . We anticipated that there may be some rise but the deciding factor for the governor was that we had the hospital facilities to handle an increase in potential cases. Now, some of these cases that were seeing in actual rising cases is because were doing more testing. Initially there was some concern that we saw a rise as he was opening it up but it was because previously, it was taking two or three weeks to get the test numbers back. Then all of a sudden we get these tests that can come back in 48 hours and youve got a combination of both of those coming together but he can see that the new cases was plateauing. So we are seeing an increase, because of the number of tests going out, but the key is the hospitalization. We saw a 19 decrease in the amount of hospitalization in the past week. Prior to that, 34 . In fact, right now, the lowest number of hospitalized patients with covid that we have seen in the state since this all started. Stuart no going back for georgia. You are going straight down, opening it up, right . We are opening it up because you were making the great points earlier, there is a health issue with this. I talked to a nurse the other day who said the Biggest Issue they have now are patients who are coming in, coronary patients who should have come in to get a stent a few weeks ago that couldnt and are now having open heart surgery and are staying in the hospital longer. What about those that are potentially dying because they have gone too far . Its time for us to get the economy back going again. We always have a Farmers Market in my small town here in the spring and summer. This weekend was the first time they have opened it up this year. It was a record crowd of people there. It was almost like we are back to normal and people are excited to be able to get out and get about their business again. Stuart what about getting people back on planes . I ask you this because i think you were a pilot, if im not mistaken. Delta plans to add, what, new flights, 200 extra flights scheduled in june so they can spread people around a little bit. What do you think to that . I think its great that people look, youve got to put a level of trust in the American People that they want to be safe. Thats what were doing here in georgia. Lets open up the businesses. Businesses care about their customers because if their customers dont feel safe and secure, they are not going to come to do business and the business is going to go under. Delta is doing the same thing. Look, when i first flew, within the first flew on delta on the first few weeks going back to d. C. , the Atlanta Airport was a ghost town. It was scary. It was like wow, were in an apocalypse out of all of their checkpoints, only two were open and two people were in line ahead of me. When i flew to washington, d. C. Last week for the series of votes, i had to wait in line 15 minutes to check my bag. So you can see that people are getting out there. The majority of people are Wearing Masks. Delta is requiring everyone on the plane to wear a mask. We are doing things like wiping down our seats even though the airline is wiping them down. People know how to travel safely and i think its time to let people go out. Look, they are willing to take the risk. Lets do it. Stuart we are opening up and the pace of the opening up seems to me to be increasing. Congressman loudermilk, thanks for joining us. Always appreciate it. Im staying on the issue of flying, because the tsa has Just Announced some changes in the security line. Ashley, what are the changes . Ashley yeah, its all about trying to stop crosscontamination at those security checkpoints. These will be taking effect in midjune although at some airports they are already in effect as they roll them out nationwide. From the offset, officers will be required to wear gloves and masks. Plastic shields will also be installed along the security lines and officers, we are told, will change gloves after every patdown. That is a lot of gloves. Now, also, what about the passengers . Well, they must now separate food from luggage for xray screening. Must be put in clear plastic bags. Retain possession of the boarding pass instead of just handing them off to a tsa officer. And of course, maintaining social distancing in the queue as you are standing in line. By the way, one interesting change, stu, is that the tsa now allowing one liquid Hand Sanitizer container, up to 12 ounces per passenger in carryon bags. As you know, that was a big nono before covid19 and if they found anything like that, they would throw it right in the trash. But because of where we are, you are allowed to bring Hand Sanitizer in a carryon bag. Stuart thats just the one thing, one kind of liquid you can take on, Hand Sanitizer. All right, ash. Show me boeing, please. I think its still up. They got a recommendation, a new price target on boeing from rbc. Rbc thinks its going to 164. Thats good enough for a 6 gain on boeing, moving up to 140. Cvs adding 16 additional drivethrough testing sites, just in arizona. They will have a total of 1,000 testing sites all across the country by the end of may. The stock is up just a fraction, 63 bucks on cvs. Take a look at the white house. In just a few moments, President Trump heads to michigan. He leaves the white house. Off he goes to michigan. Hes touring a ford plant near detroit. Question we are asking, will he wear a mask . The Vice President told us he doesnt know. We will find out soon. The new jersey gym that defied the lockdown order and opened up is shut down by the Health Department. They say its just a roadblock and they will be back open tomorrow. Thats from the owners of the gym. We will speak to one of those owners coming up shortly. A California City with just 13 virus cases says enoughs enough. Its time to reopen. We will tell you about the place calling itself a sanctuary city, sanctuary from the lockdown. The mayor joins us next. You wouldnt accept an incomplete job from anyone else. Why accept it from your allergy pills . Flonase sensimist. Nothing stronger. Nothing gentler. Nothing lasts longer. Flonase sensimist. 24 hour nondrowsy allergy relief there are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. My grandparents that i never knew. Ch about im a lawyer now, but i had no idea that my grandfather was a federal judge in guatemala. My grandfather used his legal degree and his knowledge to help people that were voiceless in his country. That put a fire in my heart. It made me realize where i got my passion for social justice. Bring your Family History to life like never before. Get started for free at ancestry. Com and now for their service to the community, we present limu emu doug with this key to the city. [ applause ] its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. And now we need to get back to work. [ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Stuart im fascinated by the idea of road trips this summer, especially in an rv, as in recreational vehicle. Jeff flock is in an rv place in burns, indiana. Tell me, rv rentals, are they really going through the roof . Reporter that is what we are told from folks all around the country. We are here at campland. We were here a couple weeks ago telling you about the boom. This, by the way, is a mini winnie. We just got this one. Thats about as small as winston churchill. This is a mini winnebago. Its beautiful. It has a bumpout on the side. You got the big sleeping compartment over top. This thing retails for, you know, starting around 98 grand. But you can rent them is the positive thing. I know you always like to know as we jump in because im going to give you a ride in this, you always like to know how much stuff costs. Take a look at these numbers. Theres a site called rvshare. Com. That is essentially an airbnb for renting rvs. I picked a few out for you here. Real cheap one, for 79, you can get a 2008 ford sunseeker, 79 a night. Its a pretty decent size. Theres the airstream flying cloud which is a towable, you get to bring your pickup along, thats 109 a night. And the thor axis is 230 a night. People are doing this. We talked to people all around the country who are doing it. This one, this is a ford chassis, ford e450 chassis and it drives just like my explorer, pretty much. If you get that big motorcoach, you better know what youre doing or you will do some damage and it will cost you more than you think. But these are easy to drive, rentable and here you go. We are out on the highway. Got some pretty good pickup, too. Stuart careful, jeff. Careful, there, lad. Careful. Thats jeff flock, by the way, your rv rental agent of the day doing just fine driving down the highway. You know what i do . I drive my truck up into the woods and sleep in the back of my f150. I do that. I do that. Thats what i like to do. Much cheaper. Reporter doesnt cost you any money. Thats why you do that. Stuart precisely right, young man. Your interview is over. Jeff flock, thanks very much indeed. All right. Lets get serious. Lets get back to the reopening revolt. Atwater, california, theres only 13 virus cases in that city and now the mayor is declaring it a sanctuary from the states lockdown orders. They are essentially saying they are reopening everything. The mayor is with us, atwaters mayor. Sir, let me get this right. You are reopening everything, like a restaurant can have full capacity . Is there any social distancing . How you doing this . Yes, thanks for having me on the show. We are opening everything up and the social distancing, the Restaurant Owners are following through with that. Unfortunately, the nail salons, hair salons, local bars, they are not at full swing yet because the governor hasnt allowed us to move to the next level yet. Stuart okay. So you are only opening up as far as your governor allows you to. Well, we have declared the whole city open and a sanctuary for all businesses, but those people who hold licenses and they could be in jeopardy with the state of california so we are actively supporting those people. Our Police Departments going to stand down, nobodys going to come out and do enforcement, and we are trying to protect those people to do business, but we are still struggling with the state. Stuart i notice that another county in california just voted to defy the governors orders. They are going to reopen. Are you leading a revolt, your honor . I dont know thaim leading. Brian raymond came up with the idea. We are getting contacted from all across the United States and around the world. Its a constitutional issue. We have been in this 60 days, the Governors Authority has run out. We were the first ones, ten days before the governor or the county, to declare an emergency. We put together a health team. The surgeon, the police chief, fire chief, myself and the city manager, we secured ppe, we secured extra beds at the local high school, we commandeered that. We had over 200 beds ready for there. We overprepared so we would be prepared, and thank god that the residents and members of the community of Merced County have smashed the curve. We kept it down. Our local hospital is feeling the impact. Nurses are being laid off, they are hardly working. Its a financial issue because weve got one of the most beautiful hospitals. We just got it built a few years ago and now its in jeopardy of not making enough money to continue to stay open. Stuart you just got to open up. Thats a fact. Mayor, thanks for joining us, sir. Appreciate it very much. Thank you. Stuart sure thing. Got to check a couple stocks for you. Facebook hit fresh highs earlier this morning. That stock has been on an absolute tear lately. Since they announced facebook shops which really is going to compete with amazon. Its still up in a down market. Facebook is at 232. Amazon, they have hit record highs as well but they are down right now, down sharply. They have announced they are pushing their prime day back to september. The stock, though, still down 41 bucks. They are back to 2456 a share. Netflix is down but if you havent watched their programming for over a year, they will ask if you want to cancel your membership. If you dont, you are out of luck. Not sure i understand all that but the stock is down 15 a share as we speak. It had been up 30 since the start of the lockdown. Down today, though. That new jersey gym that defied lockdown orders, well, its been shut down overnight. Watch this. We have been shut down by the Health Department without them even coming inside. So that tells us that we are doing the right thing because its a scare tactic and our plan is to handle it and reopen tomorrow. Stuart all right. We will speak to that gym owner about his next steps. That will be coming up on this show today. The key to understanding Speaker Pelosis 3 trillion relief plan could be elon musk . We will explain that after this. 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Retire better stuart we are down across the board, folks. We are off 169 points on the dow and about, lets see, 104 on the nasdaq. Big techs down today. Lets check moderna, please. They are down significantly. They have the vaccine news a couple days ago. They went up to 80 a share. They are back down by nearly 10 this morning to 66. Why . Well, look at astrazeneca. The u. S. Government says it will invest 1. 2 billion into this company and others to get a virus vaccine but theres more on astrazeneca. I will tell you about it. In july, theyve got 30,000 americans in a human trial of their virus vaccine, and they hope, if all goes well, they can get 300 million doses of their vaccine out there in america by the early fall. Thats why astrazeneca is up. Competition for the other guys. Lot of companies are not doing badly. Waiting for the country to reopen. I want to bring in market watcher Heather Zumarraga because heather keeps close touch of some indicators on a daily basis of how were doing with opening up this economy. Welcome back to the show. You use this driving app. Whats it telling you . Well, i use the driving app not just to look at as an indicator but also because i never know where im going, so it helps, keeps me from getting lost. Look, driving apps are showing an increase in demand from the trough, at the lowest point they were down 50 when we shut down the economy. They are up now 30 from the low. So while that does not indicate that people are going to go out and spend money, its not a direct indicator of consumer spending, it is an indicator of activity. Stuart okay. Heres another sign of hope, so to speak, that you use. Thats redfin. The real estate people. What is that telling you about us opening up the economy, the pace of it . Thats right. Redfin is a realtor app. A service you use online. Its showing a pickup or indication of customer inquiries so there may not be as much home buying going on but in terms of people inquiring about homes, there is a pickup because home sales are in short supply right now. Home prices are up, showing that the housing sector is in pretty good shape, and thats just another piece of evidence that i look at. Stuart one more. You look at uber, i take it. I guess you are looking at ridership and when it troughed and how its moving up . Thats right. A lot of millenials mainly use uber. Again, from the trough or the lowest point, it has risen about 40 . So despite all the recent layoffs that uber has used has made, people are still using uber. We are seeing a 40 increase from the lows. Again, showing signs that people are getting back out there as all 50 states have now reopened. Stuart okay. Bring it all together. All the indicators, the daily indicators that you look at, could you say conclusively that the pace of the opening up, the pace of the quickening pace of the economy, is strong . Well, the pace of the economy reopening in phases is strong and i think its right to use a phased approach. You had a great interview with Vice President pence saying that its not necessarily health versus economy but health versus health, keeping people at home also causes health problems, depression, alcoholism, drug abuse and those things are just maybe as potentially dangerous as also the virus and reopening the economy. So im glad its happening. I agree with Governor Desantis down here in florida. I think most people want to reopen in a cautious way. It makes sense. Stuart it does make sense. We are at it, we are doing it. Thanks very much, heather. Always appreciate you being with us. Im going to show you a head line from the wall street journal. Elon musks final straw. Its about Speaker Pelosi pushing for a nationalization of blue state spending. Let us bring the author of that piece to the show, dan henninger, wall street journal editorial page guy. Dan, explain this. Whats the relationship between pelosis 3 trillion plan and elon musk . Well, stuart, we do know that elon musk got very upset when california authorities with governor gavin newsom said he could not open his tesla plant in fremont, california, and so he tweeted that this was the final straw, meaning obviously that elon musk had had his problems before with california, which we know is a huge cost of doing business state. There are all sorts of environmental rules and mickey mouse and so forth that just makes it very difficult for states or companies in california to operate. Many have left. So musk was saying this was just the final straw, saying he couldnt open his factory. Meanwhile, youve got nancy pelosi proposing to send 1 trillion to the state, basically a bailout to states like california, new york, new jersey and illinois, who have been spending like theres no tomorrow for the last 20 or 30 years. How do they support that spending . By taxing their citizens. Many of whom have fled those states. Pelosi is now suggesting that the federal government will basically ratify the blue state economic model of spending into infinity and never worrying where the money will come from. These bills shes passing, 3 trillion in total, pretend that federal tax payer money is sort of like monopoly money. Stuart, most of the federal most people out there in the country never voted for the levels of spending that exist in those four states but now nancy pelosi is telling them you are going to pay for it one way or another. Stuart you got that right, dan. Thanks for joining us, as always. We will see you again very soon. Thank you, dan. Now, i want to bring susan in. Ive just got a problem here with an apple phone and how to get into it if im using facial recognition. I know youre laughing. Let me explain the problem here. If ive got an iphone, and i do, and if i got into it by, what is it, facial recognition or eyeballs or Something Like that, facial id, how do i get into it if ive got a mask on . Susan im glad to be your i. T. Source. So i would like to see the mask one day but if you are wearing a mask, theres a few updates in your new iphone software. Now, one of them is will it recognize you with your mask on. No. But it will make it faster to get in with your pass code so you have to remember that in the future. Also, another new update for the new ios is apple and googles covid Contact Tracing Software Going live for the very first time, and on the call yesterday with apple and google, they said multiple u. S. States, 22 countries on five continents have expressed interest in using their Contact Tracing software, including alabama and north dakota. But apple and google say its meant to augment the Public Health Contact Tracing programs and not replace them. And yes, this comes with more privacy measures as well because on the call, i was really surprised and so was everybody else that there would be no location tracking, also bluetooth masking is also important as well. I think thats probably the biggest hurdle to get over. Stuart you got that right. Susan, thank you very much indeed. Listen to this one. The first ever socially distant concert, it went off without a hitch in arkansas this week. Other musicians are looking into things like drivein shows. Will live music ever be the same again . Will you ever see a mosh pit again . I dont know. The gym owners leading the open revolt in new jersey, they have been shut down. The reason why will have you scratching your head. We will speak to the owners coming up. And taking a live look at the white house. In just a few moments, the president will leave for michigan, touring a ford plant near detroit. We will give you the details next. Dolph lundgren, youve got a onesixty i. Q. , a masters in Chemical Engineering and youre technically a genius. And it appears youre quite the investor. I like to trade. Well, Td Ameritrade has pros ready if you need help, say talking through a new strategy. Just in case things, you know, get a little rocky . Im sorry on the upside i think thats waterproof. Maybe not. Stuart fox business alert. Today, President Trump visits a ford plant in detroit, michigan. Blake burman, tell me about it. Reporter stuart, this is one of those Success Stories that the white house is going to try to point out. This ford plant in michigan closed in march, but then decided to bring workers back to make ventilators and thats part of what that plant has been doing. You spoke with the Vice President mike pence earlier this morning, who said the ventilator story is quote, nothing short of a national accomplishment. That is what the white house is going to try to highlight in part with the president s trip. There was another interesting part of your conversation with the Vice President , when you asked whether or not President Trump will be wearing a mask, because at that ford plant, it is required. When we reached out to ford earlier this week, they said they are going to defer that decision to the white house, and the Vice President made it seem to you as if the white house physician will end up making that call as it relates to President Trump. Watch here. Well, the president made it cloer th clear that he would make that decision on a situational basis and im very confident the president will take the guidance of the white house physicians about whats most appropriate. I mean, we put no higher priority than on the health and wellbeing of the president of the United States of america as he continues to lead this nation. Im sure hell comply with the guidance from white house physicians. Reporter stuart, in advance of this, the Michigan Attorney general says that it is the responsibility of the president to wear a mask. This is from the a. G. In that state. Quote, anyone who has potentially been recently exposed, including the president of the United States, is not only a legal responsibility but also a social and moral responsibility to take reasonable precaution to prevent further spread of the virus. So that, i dont know if you want to call it a side story, but maybe a head line leading into this. In any event, stuart, hes going to go there to highlight ventilators as the president told you. National Success Story is how the white house views it. Stuart i just like to see exactly what the president and how he responds to the Michigan Attorney general there. That will be fascinating. Blake burman, i got your name perfect every single time now. Blake burman, youre all right. See you soon. Look at the markets. Treasury secretary Steven Mnuchin says we will see quote, a gigantic increase in Fourth Quarter economic activity. The market responding a little. We were down 160 a moment ago. Now we are down 80. Got that. Atilis gym, thats the new jersey gym that defied state orders, they reopened. Well, they were forced to shut down by the state Health Department. I want to bring in ian smith and Frank Trombetti, the owners of that gym. First of all, frank, if i may ask you this, you were shut down by the Health Department because you got a sewage problem. The toilets were backed up with paper towels, but you dont use paper towels in your gym. Do you suspect sabotage . Well, first off, we werent actually shut down because of the sewer problem. Actually, the sewer problem ended up actually cutting our day short and a few peoples workouts short yesterday afternoon. But we got that taken care of. It is actually mysterious that everything was clogged up with paper towels from the inside and out and we dont use any paper towels inside the bathrooms, but the actual, the force of closure of our establishment, they are actually using covid as the actual reason. They are actually they have not actually listed the issue with the sewer, and at the same time, nobody from the board of health at any point ever entered our facility and they put these restrictions on us overnight, and by putting it on our windows as opposed to actually coming to us during the day and making us aware of any quote unquote, violations that we may have had. Stuart okay. Ian smith, youre closed now. Are you going to reopen in the very near future . We plan on reopening tomorrow morning. Stuart what do you think the response is going to be . You are likely to be arrested, maybe . That is certainly a possibility but we have consulted with our legal team early this morning. They have been reviewing the orders posted and Nothing Specific is listed and again, no Health Official has ever visited us in the 11 months that frank and i have owned the gym, and anything listed is just very general, so they told us to go ahead and open and we will deal with the consequences at that point. Stuart well, Frank Trombetti, are you consciously leading a revolt . I dont know if we are necessarily calling it a revolt but i am consciously trying to lead americans to actually fight for their Constitutional Rights and for Small Business to actually open safely and securely and we dont want any frivolous opening of businesses. We want everybody to actually look at their own industry and actually do their homework, like ian smith and myself have done over the last eight weeks. We actually looked at what the regulations would be and how we could actually take our gym and actually make it compliant with social distancing, with sanitary reasons, disin ffecting reasons and take it into consideration and do your education, put a plan together, open up safely and securely and they will realize that we can do it better than anybody else. We have taken precautions that actually there is not a single Big Box Store in the entire country that actually has a secure facility as we do right now to prevent the spread of the virus. Stuart ian smith, Frank Trombetti, thank you for being with us today. We will follow this tomorrow morning, see how things work out. Hope to see you again real soon. Gentlemen, thank you. All right. Can i say one more thing, sir . Stuart sorry, the gentleman wanted to say one more thing and im terribly sorry but we have to cut him off. Im out of time on that one. Look, this is rows of seats blocked off by caution tape. That was before a live show, live concert. The Company Behind the first ever socially distant concert now says people around the world are asking for advice. We have more on that coming up next. Gasx maximum strength. It works fast. Relieving pressure, bloating, and discomfort before you know it. So no one needs to know youve got gas. Gasx and people you can rely on. Im a Dell Technologies advisor. Me too. Me too. Me too. And if youre a Small Business, were with you. We are with you. Were with you. We want to help. So well be right here. At home. Answering your calls. Providing support. And standing by you every step of the way. Bye bye. 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. Stuart all right. Country singer Travis Mccready there. He headlined the first ever socially distant concert this week. Mike brown is with us, hes one of the people who planned the concert, temple live organizer right there. Mike, did you make any money on this . No, stuart, we did not. Stuart do you have any more planned . Yeah, actually we are looking at several shows to announce here in the near future with some artists that have reached out to us that have expressed the fact that we are open and can do that and with the new state guidelines, allowing us to increase our occupancy or capacity to onethird which we had modeled ours at 20 . Stuart im not being critical, but its not a concert to me if i cant be real close to my fellow concert goers and sing along with the music with everybody else. I dont exactly want to do any mosh pit activity, but you know, crowd surfing, but you know what i mean . Its not quite a concert, is it . Well, no, and its not quite the world we were in four months ago, but the concert that we put on, you know, theres video that will come out, we livestreamed that and will be putting that together. But if you have watched that penal joyed people enjoyed it, they stood up, they danced, they raised their hands. They did everything they would do at a normal show. They were just six feet apart. Stuart theres a revolt going on at this point in this country, a revolt to get rid of these lockdown ideas and lets get back to some semblance of normal. Its really moving at a fast clip, actually. You think theres any chance of getting back to a normal concert one year from now, for example . You know, stuart, i think there is an opportunity to do that as long as we continue to practice the sanitary items we are doing as a venue operator, and other businesses and people as a whole. I know me personally, im sure washing my hands a lot more and i have Hand Sanitizer on me at all times. I know there was a report that came out yesterday, however, that the cdc states that now the virus isnt really as transferable from a service so surface so if all these things keep happening and the virus isnt what we all thought it is, we can get back to normalcy. I think that we will. Stuart thats one. You have calls coming in to you from all over the world about how to do this, that right . Yeah. We have had venues reach out via email and some phone calls. Scotla scotland, the uk, france, spain, we had a property in thailand that sent over an email and quite a few in the states. We had a nice email from Carnegie Hall in new york city. Multiple places we are talking with, kind of sharing ideas. Stuart im not critical at all and i really want to thank you for bringing music back into the public arena. I think you are doing a great job under very difficult circumstances. Keep coming back to us, please, and tell us about other concerts coming up in the future. We would love to hear about it. Mr. Brown, thanks very much. More varney after this. Up and down. Depression to exuberance. And you could name many, many cycles like that over the years. My generation, having come through so many wars and so many things. Persistence. Its the heartbeat of this country. Stick with it. Some Companies Still have hr stuck between employeesentering data. A. Changing data. More and more sensitive, personal data. And it doesnt just drag hr down. It drags the entire business down with inefficiency, errors and waste. Its ridiculous. So ridiculous. With paycom, employees enter and manage their own data in a single, easy to use software. Visit paycom. Com, and schedule your demo today. Stuart yes, we have got a town hall, a virtual town hall here on Varney Company at the 11 00 hour next thursday may 28th. We would really like you to send in your video questions and you can send it to invested in investedinyou foxbusiness. Com. Now please, keep your questions to 20 seconds or less. Really helps if the question is straightforward and to the point. Were going to run a lot of them. 20 seconds or less, please. My times upnow. Neil, it is yours. Neil we have to redo that question from varney. 20 seconds is not 20 minutes. Thank you, stuart. Were working on that. Trump it down a little bit. Thank you my friend. Were following up on that. Were following up on a market which doesnt know which way to go. Technology stocks started with a tear this morning, giving back a lot of the gains. Much of it focused what is happening on the virus front. As all 50 states begin unwinding provisions in some cases have been in effect for upwards of two months its a bumpy ride but not that bad of