Transcripts For FBC Mornings With Maria Bartiromo 20240712

That is growing. The nasdaq was up 110 and s p up 38 points, one and three quarters percent higher across the board. George floyd will be layed to rest today in houston, this as calls to defund even disband Police Departments across the world intensify. President trump, though, holding firm saying we cannot give up on Law Enforcement opposing efforts to Defund Police forces. Turn to ongoing battle against coronavirus, the World Health Organization says that the spread of the virus by people who are asymptomatic appears to be rare as some cases seeing rise in case this week. Mornings with maria is live right now. Global markets this morning red across the board. Take a look at european indices. Cac request rant in paris 89 and germany by 237. The economy will decline 5 and a quarter percent in 2020. Take a look at asian markets overnight with the best performer there hong kong, hang seng index up better than 1 . Some of the top stories that we are watching this morning, President Trump is slamming calls to defund and disband Police Departments during meeting with Law Enforcement officers amid the george floyd protests. We have great Law Enforcement, im very proud of them. There wont be defunding and there wont be dismantling of our police and we are going to work and talk about ideas, how with can do it better and how we can do it possible in a much more gentle fashion. Maria Top Democrats are also trying to distance themselves from the calls to dismantle Police Departments also, former Vice President joe biden says hes also against it. I dont support defunding the police, aid on whether or not they made decency and honorableness and in fact, are able to demonstrate they can protect the community and everybody in the community. Maria and House Speaker nancy pelosi says it is a local decision. Congresswoman and chairman of the black caucus karen says it can be used as distraction and senator joe manchin calling the idea crazy and nuts. New legislation meant to address Police Brutality, house leaders plan to vote on it at the end of the month and unclear how it would be clear in gop senate. George floyd will be layed to rest 2 weeks after he died in Police Custody in minneapolis. Thousands coming to hometown to pay respects yesterday including celebrities and highranking politicians, Presumptive Democratic nominee joe biden met with the floyd family as well, only family and Close Friends will attend private funeral. Floyd will be buried next to his mother. Derek chauvin, accused of killing george floyd, judge ordered chavin up to a quarter Million Dollars of bail. Chauvin appeared in video. Returns june 9th, cristobal could regain strength as it moves north, fears it could merge with a strong storm coming from the rockies as well. Its expected to unleash winds and thunderstorms on most of the midwest today. The storm already drenched much of the south, emergency crews in louisiana, and the gulf coast is facing storm surge, the highest water theyve seen since hurricane isaac back in 2012, President Trump declared emergency. S p is down 33 and nasdaq down 59. The National Bureau of Economic Researching says that the covid19 crisis launched the u. S. Economy into a recession in february, marking the end of the longest economic expansion on record. Joining the conversation this morning optimal capital, director of strategy and market analyst stacy is here along with Dagen Mcdowell, Jon Hilsenrath and the National Taxpayers union senior fellow mattie duppler. Good morning. Mattie good morning, maria. Maria what do you think of where we are and how severe the recession will go . Well, its very interesting because no recession since the 1800s i guess has been shorter than six months. I guess the question on the table is this going to be the shortest recession in history and that all depends on rebound of gdp, of course, which those estimates are still kind of coming because could we lose 50 in the Second Quarter, there are all of the estimates going out there and how could we have the biggest uptick in gdp with the reopening in the Third Quarter and all remains to be seen. Could anyone view it positively that we dont hit a depression as that was also once on the table. Francis, what does that mean for the backdrop, would you be allocating capital on where we are in the recession . I think that the stock market has gotten ahead of itself as far as markets go. They lag equity markets and labor market will return locker to return, maybe some suspect and i think we are extended. I do think that there are good deals and International Value and stocks. We would have to watch dollar, its having uptick today and see if strong dollar remains, then recovery will be slower in those areas but if the dollar continues to decline, then thats going to be a good cheap place to go. I think the u. S. Markets are bit extended. Maria we will see if the dollar declines or moves today. Federal reserve kicking 2day meeting, fed announcing significant changes for lending program, to help small and midsize companies. Jon hilsenrath, what are you expecting from the fed meeting, frances. Jon the big question is fed and treasury bonds. On the recession data that you mentioned, one of the things is mbr they put out recession dates after the recession is over. The wall street journal has been reported that it looks like activity bottomed out some time in may and states reopen, we will see response in activity, the question is how long it takes to get back to where we were in february. Frances interesting because some businesses have gone to skeleton crews and some will be hesitant until the demand comes back until full set of employment and some things will open up and the jobs that were temporarily layed off and people will get employed and some people have permanent job losses and remains to be seen and the sector where permanent job losses will occur is economy and increase wealth gap and could cause rebound in industries and it will just increase the health gap. Mattie man, that friday jobs number was way better than anyone expected, do you think that the recovery sooner than expected or do you expect to see the labor market lag as we go into the summer months . Frances i think the last part of the estimates will lag. Lands us in 8 unemployment and then typically, you know, employment comes back at half percent to percent each year, if you look at that, thats quite extended comeback and the head winds and taxes are due on the 15th of july, you have airlines got their bailout money because they were suppose today keep employees through the end of september and furlough and rental markets will end at the end of october, those are the headwinds that could catch some of the things by surprise when the stimulus start to taper. Maria all right, we will be watching it all, frances, thank you so much, Frances Newton stacey. Coming up retired jack keane is here. Reality chairman and ceo on retail paces and new york city my city mayor Rudy Giuliani. The ceo of windham destinations. Hudson institute michael pilsbu pilsbury talking about of treatment of uighus, dan bongino on defunding the police. The big business of youtube. One influencer who does not let anything in the way of motivating her audience. We will tell you all about it. Stay with us. Now is the time for a new bath from bath fitter. Every bath fitter bath is installed quickly, safely, and beautifully, with a lifetime warranty. Go from old to new. From worn to wow. The beautiful bath youve always wanted, done right, installed by one expert technician, all in one day. Weve been creating moments like these for 35 years, and were here to help you get started. Book your free virtual or inhome Design Consultation today. Maria welcome back, covering up coronavirus, new satellite images show wuhan hospitals flooded with patients months before the reports of the outbreak actually emerged. According to researchers from boston childrens hospital, Harvard Medical School and boston university, wuhan hospital parking lot saw increases from 67 to 90 between october 2018 and 19, the study also showed a spiking web search for covid symptoms starting in november. Joining me right now fox news senior strategic analyst retired general jack keane. General, good to see you. Looks like the virus occurred in china a lot sooner than they actually reported it, worst than we thought. Now its going all the way back to october, general. Jack its pretty revealing information if it turns out to be the case. Justty just think about it its june now the United States has been dealing and most of the world at least for 6 months and we still have no declaration from china as to what the origin of the virus is and what facilitated the initial spread and they have not permitted any outside scientists to come in to talk to their doctors and scientists and help adjudicate this so the world can benefit from that knowledge as we prepare for a second wave or prepare for another pandemic which we know at some point is inevitable and it is a stunning revelation that this is taking place. Remember, maria, that the head of the w. H. O. , the World Health Organization, traveled to china in second week of january and the Chinese Government told him that there was no human to human transfer of the virus and he made a world announcement to that effect that was the second week in january. They knew it had human to human contact and possibly into the fall is a stunning revelation. Maria yeah, the bigger point is that if china lies to the United States, lies to the world, keeps such an important issue under wraps and allows it to escape, sickens the entire world, how do you trust a partner that continues to breaks and overreaching in india and overreaching in South China Sea. Whats the plan Going Forward . Jack well, first of all, the one thing that has benefited from this is the world has been really able to see who this Chinese Communist party really is. They are what you just said, they are liars and cheaters and oppress their own people and trying to dominate the region that they live in and trying to dominate the world and replace the United States as the worlds Global Leader and i think theres more cleareyed looking at china than there has ever been and i think the United States with alloys and friend are going to be able to put together a strategy that makes some sense to push back on chinas malign and aggressive behavior and also specifically hold them accountable for spreading the virus which was an epidemic h they held in place in hubei province. Im convinced that president xi wanted the economies in the west to suffer as a result of it and thats why he kept the International Flights going when he knew full well he would be spreading the epidemic. Maria let me moving to north korea. Pyongyang halting communications with south korea, criticizing the kim regime. The decision made by kim jong un sister. What do you make of this . Do you think this represents a change in the Korean Peninsula . Jack no, this happens time to time. Every once in a while this gets the ire of the north korean regime and they retaliate to some degree. Look, theres not a lot of communication going on between the north and south anyway and some emergency measures between leaders of each country and some other communications that we have established, this is more posturing than anything else. North korea looks for concession out of the south koreans. South koreans under this administration really wants to open things up to north korea even without concessions on the norths part. We only want to open things up when there are concessions toward denuclearization. I dont think its much of a big deal and i dont think tensions will increase as a result of it. Maria all right, makes sense, general, always a pleasure to see you, thank you, sir. Jack good talking to you, maria. Maria quick break on calls to defund the police, what the president and opponent has to say about that. Americans give back, helping day care stay open during coronavirus. We are back after the break. Maria welcome back, George Floyds death sparking a National Push to defund Police Departments across the country but President Trump is backing the men and women in blue meeting with Law Enforcement yesterday. The president says defunding is not an option. Theres a reason for less crime, thats because we have Law Enforcement, im proud of them. There wont be defunding. There wont be dismantling of our police and not disbanding of police. Joe biden speaking out against defunding the police. Dagen mcdowell, i like the oped in the journal this weekend, defund the police, watch the crime return. Dagen youre seeing this happen before the riots brokeout in the last couple of weeks that theres been a massive spike and this is in the wall street journal spike in crimes in minneapolis, homicides up 60 , arson up 58 , burglaries up and same places like new york city and san francisco, one of the reasons is that the president and his opponent joe biden can talk about defunding of police but this is really a state and local issue, something i talked about on outnumbered yesterday and these extremely progressive leaders in these major cities treat these many crimes as victimless crimes and they go easy on the criminals, excuse me, you cant even call them criminal, they go easy on the people who are robbing, punching people in the face, you look at the bail reform law here in new york city who are the vast majority of crimes, its boom, youre in, no, youre not in jail but youre out once youre arrested, but the issue is here there are no theres no such thing of a victimless crime. You get punched in the face and sent to the emergency room, the person who did it might get out with no bail, but youre still the victim. A store that gets looted an robbed, there are victims, the owner of that very store who might not in these hard times have insurance, so the only thing thats going to change this movement, this Defund Movement are people at the local level reelecting people who believe that we should punish crime and that criminals are criminals. Maria yeah, House Democrats now say that they want to unveil legislation. Theyre unveiling it yesterday to address Police Brutality with plans to vote to measure by the end of the month. Do you think anything comes from this . Dagen if the issue is making Police Officers more accountable, thats a huge issue and the journal editorial points this out, more public transparency about offenses by individual officers. The union rules negotiated under collective bargaining agreements in the journal writes this, make it hard to punish offending officers much as union do for Public School teachers and Research Done that if you can if people are allowed to file complaints relatively easy against officers that highlevel of complaints against an officer is a very good indication of maybe violent behavior down the road. Thats got to be an area of focus, accountability and transparency. Maria all right, we will take a break on this, we are looking at the state of retail when we come back right back. How many stores are planning to stay closed during pandemic, we will take a look. Weve got it all coming up right after this. Maria welcome back, good tuesday morning, im Maria Bartiromo and it is tuesday june 9th, top stories right now 6 31 a. M. On the east coast. The rally losing steam, take a look at futures, we are expecting lower opening at the start of trading, s p futures down 34 and the nasdaq futures lower by 61, thats after big rally yesterday, markets rising yesterday in optimism for a recovery. We will have news on that coming up on the recession. Gapes pushing the s p 500 positive for the year, joining the nasdaq who is positive for 2020. Global markets look like this, european indices red across the board. Dax index in germany lower by 285. A record decline for german exports for the month of april, in asia overnight mostly higher, hang seng index up better than 1 . U. S. Federal prosecutor taking on the British Royal family. Cheryl casone with the details now, cheryl. Cheryl that is right, morning, Jeffrey Berman says that british Prince Andrew is lying on wanting to testify on jeffrey epstein. The princes lawyer offered to help at least 3 times. Woman trafficked by epstein says she had sex with the prince. If Prince Andrew is cooperating with federal Ongoing Investigation our doors remain open and word on company to expect him. He will not be extradited in United States. Widow of bryant sued pilot in february following the crash that killed kobe and gianna and 7 other people. Company says it is a, quote, tragic accident. Finally a look at what is trending this morning on foxbusiness. Com to hire employees as restaurants start to reopen. Partnering be Southern University to provide with online education. Include philadelphia 76ers and new Jersey Devils Ownership Group talks between billionaires and david and the mets current owner said to be in early stages and mexico resumes tourism in cancun and the beach destinations, cancun, tulum, riviera maya began opening resorts yesterday as traveling could resume next month. We will bring them to you as soon as we get them in. Back to you. Maria great, cheryl, thank you. Retail under pressure as we await macys numbers look at this, 25,000 u. S. Stores could close this year as a result of coronavirus and pandemic and the shutdown according to report from retail and Technology Data firm court side research, joining us to weigh in on this commercial real estate reality chairman and ceo Regional Planning Association Chairman as well, scott, great to see you, thank you for joining us. Would you assess the state of business today, what is going on in retail in terms of the bifurcation between the whole industry and how will things look different Going Forward . Scott i think the overall economy will be different coming out of the virus. What we have seen acceleration of trend before virus and retailers that were performing well and those who were struggling will fail much more rapidly. I expect to see the divergence continue to grow as we go through the process and more store closures being announced in the next 6 to 12 months. Maria looking at the screen right now, Tiffany Company reporting revenues, adding to list of companies missing estimates and and certainly certainly harsh situation in some, closing doors altogether, what do you think are the reasons for certain stores unable to make it through and others being okay, is it just online dynamic or Something Else . I think its a combination of online dynamic. We closed the economy in the last 3 months and now we are reopening the economy and people have anxiety and anxious about going to the store and its for essential goods, theyll order online. Theres a question right now as to in this recession that is the deepest recession since the depression, do they have the spending on the luxury goods right now. I think thats the question we will have to see. The numbers have been better than what people originally anticipated, recent forecast, more people willing to go back to malls than people anticipated, we will have to watch this closely to see what the dynamic is as people start leaving home for the first time in 3 months and decide where they want to spend their money and how comfortable they are being out in public and crowd. Maria yeah, we should point out that new york city began the first phase of its reopening yesterday even as it dealt with looting in the wake of the protests over the killing of george floyd, so scott, youve got 2 of your properties in manhattan faced looting, whats the status of those stores and how would you characterize the reopening of new york in the phase of all of this . First reopening in new york was a great day. People on the streets, people on the subway. We had a thousand people on our Construction Projects so its a process, right, people have anxiety and have to get them back to work and we have to do it responsibly and safely and we have to start. Yesterday was a great start for new york. As you noted there was demonstrations earlier last week there was looting that took place in two of our buildings were looted. It was unfortunate because from our teams perspective, what we saw the people that were doing the looting were not part of the protest and they polluted the purpose of the protest was and the police fell behind a little bit on sunday and monday and regrouped on tuesday and since then the protests an demonstrations have been peaceful. We havent had any more of that but it will slow down the reopening of new york. You walk in the streets of new york city, many more stores that are boarded up and new store fronts put in place which will take time. Maria i could see that, Jon Hilsenrath. Jon scott, what do you see in the pay of pinned up demand . People cut their spending a lot more than their income fell during this recession. They seemed to have money in their pockets and want to get out of their houses, do you think that could lead to a surprising burst of spending this summer . Scott early indications is that people have this pinned up demand as you said want to get out and want to spend money. The jobs report last week was obviously a positive surprise, im still a little bit more cautious because if you look at some of the Government Programs they had you had to keep people employed through june for the Small Business, the ppp, some of the other industries, airlines also had to keep people employed so there may be another wave of unemployment that comes post june that may impact the economy, so im not in the camp of vshape recovery but, you know, again, im looking for green where we can find them. Airlines talking about booking, doubling means get to go 15 versus 7 , you know, these are good signs, but i think we had to be cautious and watch carefully before we jump to a conclusion that we have in quick recovery and one thing i will say quickly is critical im sorry, go ahead, maria. Maria no, whats critical . Scott whats critical and what worries me is we cant take foot off the gas in congress. The Federal Reserve and congress have done great job trying to keep the economy afloat while we basically shut it down to deal with the virus. They came up with maria absolutely. Sot they will have to layoff Police Officers and teachers and its just going to get worse. Maria theres an extension with getting ready for the comeback when more people go back to work. What i was going to ask you real quick, scott, how will the mall industry, how will stores look different with social distancing . Are you looking at different retro fitting and expense in terms of a different experience real quick . Scott well, with our Office Buildings its a reimaginary thing. You have to reimagine and get people tools to change behavior. Making sure that theres not too many people in there at the same time. We have to reinvent how we do business, Large Business or Small Business and with that comes expense and unfortunately the Small Businesses its more challenging for them than larger businesses that have the capacity to make the necessary investment. Maria all right, we will leave it there, scott rechler. We will see you soon. America gives back. One restaurant helps day care stay open during coronavirus. We will take a look at that next. The big business of youtube. We will meet one influencer who does not let anything get in the way in order to motivate her story. Note maria this week on mornings with maria, tomorrow dr. Fauci predicting a Covid Vaccine shot for nearly every american by the beginning of next year. Dr. Mike on what that means for you. Thursday, which of your favorite retailers will survive this pandemic, former toysrus ceo gary storch with answers. On friday with markets nearing record high, we are following your money, its all right here on mornings with maria mornings were made for Better Things than Rheumatoid Arthritis or Psoriatic Arthritis. When considering another treatment, ask about xeljanz xr, a oncedaily pill for adults with moderate to severe Rheumatoid Arthritis or active Psoriatic Arthritis for whom methotrexate did not work well enough. It can reduce pain, swelling, and significantly improve physical function. Xeljanz can lower your ability to fight infections like tb; dont start xeljanz if you have an infection. Taking a higher than recommended dose of xeljanz for ra can increase risk of death. Serious, sometimes fatal infections, cancers including lymphoma, and blood clots have happened. As have tears in the stomach or intestines, serious allergic reactions, and changes in lab results. Tell your doctor if youve been somewhere fungal infections are common, or if youve had tb, hepatitis b or c, or are prone to infections. Dont let another morning go by without asking your doctor about xeljanz xr. So as you head back out on the road, well be doing what we do best. Providing some calm amidst the chaos. With virtual, realtime tours of our vehicles as well as remote purchasing. For a little help, on and off the road. Now when you buy or lease a new lincoln, well make up to 3 payments on your behalf. Maria welcome back, community connection, virginia restaurant helping a local Day Care Center stay open after closing for coronavirus. Joining me right now the owner for food for thought restaurant and food for thought kitchen manager alfred simmons, great to see you, guys, tell us about the partnership and how you came together . Well, maria, shortly after the government shut us down in midmarch, i got a call from judy that owns Day Care Center and she said that the restaurant that was catering the food for her kids every day had totally closed and that she was running out of options, how to feed to 25 to 30 children she took care of every day and the children were kids of essential workers that really needed to be in a day care and i didnt realize it but she said that to feed the kids it had to be a licensed business. She just couldnt cook sandwich or make sandwiches for the kids so i felt that we really needed to step up and help them out. Maria how wonderful . Alfred, you prepare food every day, tell us how that impact what had the children got. Good morning, maria, it was great in the beginning, when we first shut down the restaurant we had a lot of food just sitting there and so every i could easily use food that i had available to feed the children and that was a lesson that we were able to help them out that way. Maria so howard, you would not have been able to see the the day care keep its doors open, what you did was critical to actually continuing to have that day care, for parents to have their kids go to. Well, it was good for them and it was good for us too. I had to lay off 84 of 86 employees and kept alfred and general manager and alfred is the most eligible manager and he doesnt even have netflix and this gave him something to do every day. It gave me something to do every day and i also really felt that i was doing something important every day. That was the big thing for me. We were contributing to the community and doing something important. Maria i love that. I know that during the past 2 months the restaurant has made dozens for the day care. How has the reopening been, gentlemen . Howard when you look at slow and steady reopening across the country and what youve seen; has it been smooth . Its really made us change our game plan, we went from being a sitdown astronaut to carryout and takeout restaurant and now we have patio seating at the parking lot so we are running in Different Directions to keep going. Its coming along. Youre seeing the customers are coming out, people are feeling more comfortable, still not in numbers that we need to be to be profitable or anything. We are able to seat 50 of the restaurant as of last friday, but we are probably only seen 20 of that 50 actually being sat. I think theres going to be a lot of problems for restaurants that are opening now thinking that because we are open you are going to start getting cash flow to maintain operations, but i think you will find out that the labor cost and food cost are too high cost items that really restaurants are going to start losing money the day they open again and they may not be prepared for that financially. Maria well, im sorry to hear that because i know that theres also the cost in just changing things around, going from expecting all all of the foot traffic from seating outside and most also require a bit of a cost as well. Howard, alfred simmons, great to see you, gentlemen, thank you for giving back the way you have. We will take a break. When we come back, new polling numbers on President Trumps approval rating, we will have that after this. Why bother mastering something . 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Dagen; what do you make of this new poll . Dagen well, lets be careful here for one reason. Hillary clinton did win the popular vote and what is the most important thing is the state by state count and the state by state race because President Trump won michigan, wisconsin, and pennsylvania by a total of 77,744 votes, that is roughly 0. 06 of all the votes cast. So at the end of the day this comes down to how he performs in those swing states and whether joe biden can pull back blue collar voters, whether more black americans come out and vote for him and if the Bernie Sanders bros turn against biden for trump which is what they did to Hillary Clinton. Maria yeah, thats going to be real important. Matti, how do you see it. Mattie dagen raised such an important point the whole context of president ial is Coalition Building and whether biden can assemble the coalition. Im not confident that he can do that. Right now we are six months out of the election, this is during normal times where voters start to have opinions about the economy and start to crystallize and the president will get more runway because of the coronavirus and the summer months will dictate how people vote in november and how they vote on financial futures. Jobs report on monday suggest that the wind might be at the president s back. Maria one of our guests says the recession is over. We will take a look where we are throughout the show this morning. Still ahead former new york city mayor Rudy Giuliani talk about the latest push to defund Police Departments and bringing travel back, we are taking a look at travel season as tourism begins. , one thing never will you can rely on the people and the network of at t. To help keep your business connected. Ity, whether on the track, or the everyday drive. Today, that philosophy extends to how we connect with you. We call it, audi at your door. Whether a remote test drive, shopping, tradein, or even service pickup, audi at your door can do this and more at participating dealers. The premium audi dealership experience, on your terms. Audi at your door. And mine super soft . With the sleep number 360 smart bed, on sale now, you can both adjust your comfort with your sleep number setting. But can it help keep me asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable, and snoring . No problem. And done. Will it help me keep up with him . Yep. So you can really promise better sleep . Not promise. Prove. And now, save up to 600 on select sleep number 360 smart beds. Plus, 0 interest for 48 months on all beds. Only for a limited time. Maria welcome back. Good tuesday morning, everybody. Thanks so much for joining us. Im Maria Bartiromo. It is tuesday, june 9th. Your top stories, just before 7 00 a. M. On the east coast. Market comeback, the s p in positive territory for the year, the nasdaq closing at an all alltime high as we learned the economy has officially fallen in a recession, it did so back in february, ending the longest expansion in history. One of our guests today says the recession is already over. The rally in stocks losing a bit of steam this morning, looking at a decline in the triple digits at the start of trading this morning. Take a look, dow industrials down 280 points, thats off of the lows of the day. The s p is down 27, and the nasdaq futures lower by 41. Yesterday markets rose as optimism over a strong recovery is growing. The dow industrials were up 461 points. Nasdaq was up 110, s p was up 38. George floyd will be laid to rest today in houston as calls to defund and even disband Police Departments across the world intensify. President trump however is holding firm, he says we cannot give up on our Law Enforcement. Hes opposing efforts to Defund Police officerses. Turning to the ongoing battle against the coronavirus. The World Health Organization says the spread of the virus by people who are asymptomatic appears to be rare. Some states are seeing a rise in virus cases again. New Research Shows as many at 25,000 stores could close this year r. Macys out with its earnings this morning with a double beat on earnings and revenue. More on the retailers First Quarter earnings coming up. Right now, the stock is up 13 this morning. Our look at the business of youtube this week, introducing you to people gaining popularity, making money from posting videos. Today we meet a blind motivational speaker with nearly 2 million subscribers. Find out her keys to success. Mornings with maria is live right now. Macys out with Quarterly Earnings right now. Cheryl casone with details. The stock is up 13 right now. Cheryl it is now up 15 . Its going nuts. Lets talk about this, the estimate for earnings per share, a loss of 2. 34. They came in with a loss of 2. 03. The estimate for revenues and actual revenue in line. The actual was 3. 02 billion. A couple things theyre saying here, 450 stores that opened up as of june 1st and the Curbside Pickup that theyre doing is doing pretty well. They raised 4. 5 billion, giving them sufficient liquidity to weather the storm of the coronavirus pandemic and make it through to 2021 and hopefully beyond. 3. 15 Credit Facility and a bond offering of 1. 3 billion. The stock is down about 44 yeartodate at the close last night. But as you can see, maria, the numbers were seeing right now, its up almost 14 now, this will be a new day for may says. Theyre macys. Theyre making comments that in particular the holidays will be a crucial quarter for them. They feel good about the inventory they have now. Theyre saying that seasonal merchandise, im assuming that is spring and summer merchandise, is actually performing pretty well. Maybe its a pentup demand story, hard to say. This is nice to see when youve got Niemann Marcus and jc penney that are in bankruptcy proceedings right now. Maria yeah. It is really nice to see. I agree. I think, dagen, investors are making a bet on which retailer is going to to make it over a longer term period, going to make it out of this shutdown and going to make it longer term. Theyre making their bets in terms of who is the weakest right here. Dagen it was really macys announcement yesterday that sent the message to investors that its not going to go bankrupt, that it is out of danger of filing for bankruptcy. Because it announced yesterday it had secured a 4. 5 billion Financing Facility to fund its operations, new inventory, resolve, outstanding payments and also repay debt thats coming due in fiscal 2020 and fiscal 2021. And in addition, macys has already said last month that it sees opportunity in the bankruptcy filings of other retailers, whether its a Niemann Marcus or even a jc penney, that their 10 of billion dollars in sales that are up for grabs, if you will. The fact that macys is kind of out of the woods in terms of a possible bankruptcy filing and is trying to use this kind of wasteland of retail as an opportunity, thats the one, two punch thats got the stock up 13 . Maria so Jon Hilsenrath, what about more stimulus . What are we going to hear from the fed as it relates to retail, Small Business . This is also one of the big helps here, the fact youve got the trillions in stimulus from the congress and from the Federal Reserve. More is expected, jon. Right. You know, i think that dagen is absolutely right that macys is up because it was able to finance all that debt and i think if you want to look at the effects that fed policies are having on the economy, you see it right there. The fed has made a lot of easy money available and its keeping retailers like macys going in this environment. You know, the fed is having a lot of discussions right now about buying longterm bonds, about maybe pinning longterm Interest Rates at some low level. I think they want to wait and see how things play out over the next couple of months. You know, were in a very volatile and uncertain environment and they want to see how things are going to play out before they announce their next big push, so were going to get an update on the economy from jay powell tomorrow. But right now it doesnt look like they want to announce a Major Program until they see how things play out. Maria all right. Meanwhile, this. George floyds death fueling a National Push for Police Reform. But some are saying it is not enough. They want a defunding of Police Departments. President trump backing the men and women in blue in his meeting with members of Law Enforcement yesterday, the president emphasized defunding is not an option. There wont be defunding. There wont be dismantling of our police. And theyre not theres not going to be any dismanning of our police. Disbanding of our police. Our police have been setting us live in peace. We want to make sure we dont have bad actors in there. We will work on ideas how we can do it better, do it if possible in a much more gentle fashion. Maria joining me right now is former new york city mayor Rudy Giuliani. Its always a pleasure to see you. Thanks so much for joining me once again. Your reaction to whats going on with the defunding movement and what are the implications of that, rudy . Well, first of all, i still hope its going to burn out. Bad choice of words. Theyre going to get over it. And its so ridiculous, so infantile. I dont know how to even describe it, right. Suppose somebody got held hostage in my building last night. Who are we going to call . Social workers . The mayor . Some politician . Weve got a squad of people who do hostage negotiations in the new York City Police department. I was up with them about eight times when i was the mayor. We have the best Emergency Services unit in the world. Ray kelly used to run it. My uncle worked with ray kelly back in the day. They bring down people from the tops of buildings. They are like a special forces. I mean, this is totally nuts. The best homicide detectives ever created by god. Maria youve got elected officials calling for this. Okay. Youve got aoc, tlaib, that are elected officials in congress saying defund all of the police. I dont even know what their motives are. They dont want us to have police . Each one of them said some silly things about terrorism, right . How about we have we forgotten september 11th . Have we forgotten the Boston Marathon . Have we forgotten all of the attempts to attack us in new york that the new York City Police department and the fbi stopped and have we forgotten the fact there are just as many islamic extremist terrorists who want to kill us now as there were 20 years ago. In fact, theres more. Maria whats the answer . The the answer is maria whats the answer to weeding out the bad apples. You cant deknee there are deknee therdeny there are bad a. How do you identify them . Id be a fool to deny there are bad apples. I put 70 bad apples in jail when i was a mayor. I know it a lot better than these jerks who are talking about ridiculous solutions. I know how to catch them. I know how to put them in jail. The one who committed an atrocity when i was mayor we caught them in three days. We put him in jail for 25 years. Without all the fa fanfare that this is getting. We didnt go for third degree murder and Second Degree mor departmenmurder. You hit the guyt degree murder and hes probably going to jail. Maria when you look at new york, specifically the bail reform situation is a mess. I mean, at some point youve got their hands tied behind their backs, if they can actually arrest somebody, take them in, process it and put them right back on the street. Then we have to start blaming crime on somebody other than the police. We have to blame it on the ridiculous democrats that we elected and maybe some day somebodys going to wake up and say oh, i wonder why the only place that really blew up, are cities run by progressive democrats. And i wonder if they arent really regressive democrats because it looked like the 60s. This country went up in flames like the 60s but only in democratic cities. Will you, american people, understand democrats cannot run cities. They are incompetent. Theyre incapable. Theyre too impractical. They have crazy, silly ideas like aoc. In many cases, a significant number, a lot more than bad police, theyre crooked. There are more bad apples in that Political Party than in the Police Department. Give me a break. Maria you think its the sang wear sigh policys in when is it san i believe in the broken windows theory. You build a framework for lawfulness or build a disrespect for the law. Everything the democrats have done in the last few years builds disrespect for the law. They let you out of prison. We had 8,000 more criminals we had to deal with. Maria what about potential Police Reform . Where are you on that . Governor cuomo is agreeing with the protesters push for Police Reform. Cuomo is calling for publicizing the disciplinary files of our officers. Just like there would be teachers and other government workers. Yesterday look, the bottom line is they do that on of wall street. You have a docket of information of whether or not the broker youre using was actually did he do anything wrong. Where do you stand on this . I say that i think andrews done a good job but andrew should stay out of Law Enforcement. Nobody wants to kill brokers. Nobody wants to kill teachers. They arrest criminals. They arrest organized criminals. They arrest terrorists. They arrest people who kill for a living. You think im going to give up the names of my homicide detectives who caught the mafia . Do you think im going to do that . Is he nuts . Hell get five men killed if he does it. Their families will have to move out of new york. Please, grow up. If you run a government, you must take a course in becoming an adult. Youve got to learn the streets. You cannot give out personal information about Police Officers. Are you out of your mind . Yes, you are. That party is out of its mind and its dangerous to the United States. Maria thats a good point. Its not their only crazy idea, maria. Theyve got one crazy idea after another. Theyre getting crazy. They actually voted to disband the Police Department in minnesota. Maria i know. They just had a giant riot that they couldnt control. Maria whats the answer . They need better trained police. Intensive training, intensive training and courtesy professionalism and respect. Im calling for actually a very intense course. You review that every three years. Really important. You put it in their evaluation. We evaluate Police Officers by com stat. We record what they do. The Police Department in new york city is a merit Police Department. We have every information about every arrest, what happens with it, how many complaints. Maria right. I can tell you by looking maria rudy, isnt it true that a Good Police Officer or a bad Police Officer. Maria what about derek chauvin, he had 17 infractions or something, 17 mistakes. How does that happen, that he has 17 mistakes and hes still yeah. It shouldnt happen. It shouldnt happen. That is a very poorly run Police Department. No supervisor on the scene. Those men either were totally out of control, maybe, or they dont know the procedure for how you get a guy in a car. Apparently they got him in the car. Someone said they beat him up and took him out. But theres no supervisor there. I was on television with Harris Faulkner during one of the riots and i said see those guys in white in new york, you dont see them anywhere else, you know who they are . Those are the top commanders of the new York City Police department. Theyre on the street. I make sure they were on the street. I want them watching what the cops are doing. We train every Police Officer in how to deal with people, how to deal with minority communities. We teach them what we call verbal je jujitsu. Take it down. We evaluate them every week it goes into com stat and you see a record i dont know all 18. I cant believe he was there. Cant believe it. Maria great insights from you as always, rudy. Great to see you this morning, thank you so much, sir. We will see you soon. Thanks, maria. Doing a great job. Maria thank you so much, sir. Stay with us. Weve got a big two hours coming up. Back in a minute. Effortless is the lincoln way. So as you head back out on the road, well be doing what we do best. Providing some calm amidst the chaos. With virtual, realtime tours of our vehicles as well as remote purchasing. For a little help, on and off the road. Now when you buy or lease a new lincoln, well make up to 3 payments on your behalf. Maria welcome back. A new development in the fight against coronavirus. The World Health Organization now says that the spread by asymptomatic patients is actually very rare. The organizations initial assumptions stated asymptomatic people are equally contagious as those with symptoms. The cdc is sending out similar warnings and those initial concerns prompting worldwide lockdowns. Joining us right now is Infectious Disease expert, johns hospitahopkins senior scholar. What do you make of this, now asymptomatic people will not spread it, its rare. This is something many of us in the field thought was not going to necessarily pan out when we looked into the actual epidemiological data of the contact tracing. We know people have recall bias. They cant remember when they had what symptoms. Some of the symptoms with the coronavirus many dont think of as the coronavirus. If they are tired or they have a scratchy throat or gi symptoms, they dont think its related to the coronavirus. In res retrospect they actuallyd symptoms. Initially, we were skeptical of this. Then there was some data that made us change our position. Now its becoming more clear that its likely not asymptomatic transmission thats driving the case, but symptomatic transmission and perhaps presymptomatic transmission. Maria here we are in the reopening phase, 22 states in the United States have seen an uptick in the coronavirus cases as the lockdowns lift, doctor. Are there more cases because there are more covid19 tests available or is it because were getting out and socializing again. We are testing at a scale that we should have been testing at in march. We were at half a million tests per day. Were picking up more cases, mild cases that escaped detection earlier on. There is an uptick that may be associated with more social interaction. People will infect each other when they socially interact. The key is to to keep is to a level that can be imaged with healthcare and contact tracing. There are some hot spots that we have twol two we have to wory about in terms of the hospitals getting into distress. The virus will be with us and its about Hospital Capacity Going Forward. Maria all right. Well be watching that. We will check back soon. Coming up, recouping losses, how summer camps hope to rebound. Well take a look. And the influencer game. Meet one online creator who doesnt let anything get in the way in terms of mode vatting. Motivating. 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Book your free virtual or inhome Design Consultation today. Maria welcome back. Small town economies getting crushed by camp closures, summer camps across the northeast bring in more than 1 billion to local businesses due to the thousands of kids that flock to the region every year according to the American Camp association. Thats not happening now. Jon hilsenrath, youve got kids. I think theyre older than camp though, been there, done that, right. What do you think parents will do without summer camps now . This is an issue not just for small towns but for the whole country. One of my rules of thumb is that this economy is going to get back to normal when the kids are out of the house. I mean, not only are parents and kids kind of sick of being around each other all day, parents need their kids back in school or camps so they can get to work. So, you know, i think as we look forward to september, its only a couple of months away. Thats going to be a really big marker i think for this whole economy and when you get those kids back to school and back to college, so we can focus on our work again. Maria if, though, jon, right . Do we know that thats the plan. I know my nephews who are in college, theyre not sure if theyre going to be living there in september. Its not for sure yet. No, no. And every state in this country announced School Closures at the element, grade and High School Level and like they still havent said what theyre going to do about that. So i think july and august are really big months because states have to decide what theyre going to do about backtoschool in september and thats going ptotic tatto to dictate hown their Work Schedules and whether moms and dads can work at restaurants or Retail Stores or whatever. Its going to be a very, very big marker. So you know, this whole camp thing is kind of its interesting but theres really big implications for it i think for the whole economy. Maria mattie, what about you . How do you see it . Your kids are too young for camp. Mattie theyre too young for camp but they make it difficult for my husband and myself to work and parent fulltime. We drove here from d. C. To get help with child care. Jon is absolutely right that the entire economy hinges on whether or not we can get the child care question solved. This is the frustration i think for many people, which is that we were all locked down for three months, while the officials told us they had to learn more about the virus and learn how it spread. Now we see from the w. H. O. That we didnt get a handle on how it spread because these asymptomatic cases that we thought were spreading the virus may not be. These summer months arent going to be a good test case for that we know the virus may be more prevalent in the winter months. I think its very challenging right now. We need a steady hand to make sure we understand what the actual infection rate is, what the threat is and how we can get people back to work. Maria yeah. Dagen. Dagen can we talk about how it is unhealthy for the development of children to be isolated for months upon months upon months and kept away from children of the same age and to be out of a classroom and locked away in an apartment or someones home. It is not healthy. And i think for years to come theyre going to be studying the detrimental impact on the nations children because these bureaucrats who dont know what theyre doing literally locked the entire population away for three months. Maria you make a really important point, dagen. Its not just kids. Even senior sitens, you citizens, you know, youve got a Senior Citizen in their 80s who have been at home and the kids and the grandkids didnt go see them, their parents, because they thought they were asymptomatic and they could spread it and now we find out that asymptomatic spreading is very rare. What about the two months we lost, not going to our parents and grandparents, how are those 80yearolds doing. I bet theres a similar situation there. You have big problems. Dagen i witnessed this. Maria me too, personally. Dagen elderly people on the cusp, they have dementia, they become paranoid because theres no daily interaction. Maria thats right. Dagen and facetoface communication with other people, it is the effects are horrific and longlasting. Thats why i kept telling my dad, i was like you know what, im not going to fuss at you about going to the Grocery Store and running errands and having lunch and dinner with a knew few ofew ofyour friends because he d it. Maria my poor parents were on lockdown, asymptomatic, dont go out. The market rally has lost steam this morning, were looking at a triple digit loss at the start of trading, down 300 points on the dow. Coming up, using chairs to social distance where you can see these crazy contraptions next up. Back in a minute. Maria welcome back. Good tuesday morning, everybody. Thanks so much for joining us. Im Maria Bartiromo. It is tuesday, june 9th. Your top stories, 7 32 a. M. On the east coast. The rally reversing course this morning, we have a triple digit decline underway. The nasdaq is down 60 of, s p down 31. This on top of a big rally yesterday and new highs, optimism for a strong recovery sending stocks higher, gains pushing the s p 500 positive for the year, joining the nasdaq. The dow industrials yesterday up 461 points, one and three quarters percent, the s p up 38. Global markets taking a cue from wall street, red across the board. The fq100 down 110, the cac down 94, dax down 252. A record decline for german exports in the month of april, plummeting 24 . Asian markets overnight, markets were mostly higher following the rally on wall street yesterday. Best performer, hang seng index up better than 1 . President trump is gearing up to get back on the campaign trail. Cheryl casone with details there. Cheryl. Cheryl President Trumps Campaign Rallies could be coming back in two weeks. The locations and Safety Measures that would be implemented are still being worked out. The rallies were put on pause three months ago due to the coronavirus pandemic and the shutdown of the country. Well, a favorite american past time is returning in california. The States Health department is giving movie theaters the green light to reopen doors on friday with limited seating. Ticket holders must follow social distancing guidelines and wear a mask when not eating or drinking, must cap attendance at 25 of normal capacity with a maximum of 100 people inside. The pandemic forced movie theaters to shut down in midmarch. This could be big news for movie studios hoping to hold a late summer blockbuster season. Movies like Disneys Mulan is supposed to debut next month. Coronavirus is helping cleveland become a House Flipping hot spot. The city has increased inventory on homes that cost well below the national average, giving investors a chance to flip properties. Reecreese witherspoons coronavs giveaway may be a scam. It may be a lottery drawing to collect personal information for future marketing. Selfdriving chairs tested in tokyo airports to enforce social distancing and speed up travel. The seats run on their own on a preprogrammed route at the airport. Supposed to not crash even when people jump out unexpectedly. Yes, selfdriving chairs, maria, thats what i say. [ laughter ] maria i love it. Thank you, cheryl. Markets are lower this morning, pointing to a triple digit decline ahead of the opening bell this morning after days of major gains. As you see, dow industrials down 298 points. Investors hoping to extend the rally by the s p 500, it is now positive for the year, along with the nasdaq. The nasdaq hit a record high yesterday but of course its pulling back this morning. The dollar is higher this morning, breaking an eightday losing streak as you can see there. It is higher, first time in nine days. The National Bureau of Economic Research says the covid19 crisis launched the u. S. Economy into a recession in february, marking the end of the longest economic expansion on record. Lets talk about that right now with chief Economic Advisor mohammed elerian. Thank you for being here. Thank you, maria. Maria do you believe the recession started in february . As defined by the nbr, yes, that was the peak of the upswing and we know that march was bad and aprils going to be horrible but already the economys bouncing back. Maria so you think the recovery has begun then . Because we did see the two andahalf million jobs in the month of may when we got the jobs number out on friday. You think that that is a signal that the recovery has begun . Yes. Every shortterm indicator r, mobility, travel, everything is pointing to the economy picking up. What is being debated and rightly so is the pace of recovery. And there is the view that its going to be a v or theres a view its going to be a check mark, flatter in terms of how it comes back. I think its more of a check mark, hoping for a v, but its going to be more of a check mark because we have to fix a lot. Maria so let me ask you about the Federal Reserve and what were expecting out of this fomc meeting, the fed kicks off the meeting today. They announced significant changes to improving the main Street Lending Program Designed to help small and midsize companies. After the strong jobs report, youre out with an op ed titled the job surprise complicates the picture for the Federal Reserve. You write when it comes to new policy announcements this week the fed should stay on the sidelines for now, instead focus on of making the main Street Lending Program Operational as soon as possible. The expectations here of course is the language, especially any changes to forward guidance. We are expecting the main message will be rates are going to be at zero for a long time. Anything else that youre expecting from the fed these next two days, mohammed . Im not expecting it to go further. But you should know that there are people who believe they will go further. That they will signal whats called yield curve control which means theyll target certain yields and theres even people who say theyll signal theyre looking seriously at negative Interest Rates. I think both would be a mistake, maria. I think the fed has done a lot and its time for it to go to the sideline and let this economy pick up. Anything it does more comes at the cost of sacrificing future growth and sacrificing future financial stability. So i hope theyre not super active. Maria yeah. What kind of growth would you expect . And when . Third or Fourth Quarter . So were going to see positive growth in the third, were going to see positive growth in the fourth. I think were looking at minus 5 to minus 8 year. Thats because this quarter is going to be particularly sharp. We locked down the economy. We brought everything to a sudden stop. Economies dont flip the switch back on. It takes time to synchronize. Remember, the rest of the world is also having its issue. Were not going to get any help the rest of the world. This is a pickup but its one unfortunately thats going to take some time. Maria mattie duppler. Mattie mohammed, i think your comments about the fed are interesting, particularly at a point where weve seen a very aggressive posture from the Federal Reserve. What do you make after the strong jobs number on friday, some commentary suggesting that congress too should stay on the sidelines and wait and see. Do you think thats the appropriate policy response for members of congress and for the president who by all accounts may have acted in a way with the ppp loans and the earned Employee Retention credit may have acted in a way that allowed the recovery to come online sooner than we thought. So thats a great question. I think both on the fiscal side, which is the administration, congress, and on the monetary side, the fed. They did a lot. And they should have done a lot. My view now is that the fed should go back to the sideline, but the administration and congress should evolve the policy approach and evolve it in three ways. One is focus, laser focus the relief. Go from universal relief to focusing on those who really need it and in a progrowth manner. Second, do as much as they can to make sure that during this period of living with covid, we can reopen in a healthy manner. And third, target the economy of tomorrow and if were not careful, we may end up with scars that limit productivity. So we can do things now and i think that requires the administration and congress to evolve their thinking, not to go to the sideline like the fed but evolve their thinking in the three ways i mentioned. Maria heres Jon Hilsenrath. Mohammed, just a followup on that thought. It seems to me the next really big debate in congress is what to do about state and local governments. Theres 3 trillion of spending that comes out of these places. They generally have to balance their budgets. They dont have the Borrowing Authority that the federal government has. Where do you think from an Economic Perspective, and by the way, theres also this big debate about police and how to fund police, from an Economic Perspective what role should the federal government be playing with state and local governments . So i think at this stage, and as unpopular as this may sound, you need to of support state and local governments because they are going to have a lag in the recovery of their revenues. They are being asked to do lots of things. Look at the food banks here as an example. Support that they get comes from local and state government. So do it but do it in intelligent way and with a view to handoff. I think the first phase of relief, jon, as you know, was throw everything at it. Allin, whatever it takes. The second phase has to be focused on handoffs. Yes, we are helping you now but with a view to this. And make it much clearer what this is and that implies a certain amount of conditionality, and i think thats important at this stage. Maria all right. We will leave it there. Mohammed, always great to talk with you this morning. Thank you so much. Well see you soon. Thank you. Maria mohammed elerian joining us there. Coming up, ibm takes a stand against facial recognition. The kips ending its business in this technology. Well tell you why when we come right back. Bringing travel back, what you need to know as you book your Summer Vacation and get ready to get back on that plane. Stay with us. Its my aeroplane. Music is my aeroplane. Its my aeroplane. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Makes it beautiful. State of the Art Technology makes it brilliant. The lexus nx experience the crossover in its most visionary form. Experience amazing at your lexus dealer. Maria welcome back. The Global Travel industry looking, hoping to make a comeback from airlines to hotel chains, Companies Say they are ready to go for the Summer Vacation season, boasting about cleanliness to travelers worried about coronavirus. Cruise, hotel stocks are posting gains, massive in some regards recently. Joining us now, Wyndham Destinations michael brown. Great to have you this morning. Thanks so much for joining us. What are you expecting . Thanks, mari maria. Its great to be here this morning. Like you mentioned, were expecting leisure demand to absolutely return. Im not sure it left but it became more pentup over the last 90 days. We began to reopen our resorts on may 26th. By the end of june we will have about 85 of our resorts open and given that we serve 100 100 leisure traveler, we think the Summer Season is going to be strong and were seeing the second half of this year, the booking rate look very much like 2019. So yes, i do think leisure demand is back. Maria youve also got the great profile to be able to drive to some of your destinations, right . So maybe thats also a positive for people still afraid to get on a plane. Tell us about the precautions that youre taking at your locations to make people feel safe. Well, youre absolutely right first of all about i think there will be a general trend for the latter half of this year. We typically have about 70 of our of arrivals in previous years be by car. We think thats going to be 90 to 95 the second half of this year. The second trend you mentioned as far as cleanliness is people are going to want to travel with a brand they know, they know hospitality is in their dna. We spent a lot of time while our resorts have been closed making sure the protocols that were already strong had been enhanced. That means changing the checkin processes to encourage social distancing. We moved to a curbside checkin which improves social distancing and cuts checkin time by over a half. We moved to electro static cleaning inside our rooms which addresses soft goods. You can imagine, we changed our protocols around the resort, adding hand sanitizers, washing stations and even having to take reservations for pool time. Maria so how does that work . Reservations for pool time and you also dont want to have too many people in the elevator at one place. How much of a cost is all of this change that youre implementing . What does that represent in terms of a cost . I know you took a sizable charge in the First Quarter, so maybe much of the expectations is low and you could beat expectations, but tell me what you expect Going Forward in terms of the cost of all of this. Well, its one of the benefits of our Homeowners Association or our owners contracting with the company like wyndham is we have that buying power and we have a history of working with Great Companies like eco lab and hd supply to help us with those changes and to minimize costs. So although those precautions are necessary, we dont think its going to be an incremental cost to our Homeowners Associations this year. We know theyre necessary and at some point well see a vaccine and that may change procedures at that point. But keep in mind, even this idea that there will be incremental costs, some of the changes that weve innovated during the shutdown have actually lowered costs. So again, i dont think there will be incremental passed onto the consumer which is what they want to hear. And in the course of those changes, theyre getting enhanced health and safety protocols so in the end our hope is to get back to normal as soon as possible. And in the meantime, well do everything we can to ensure social distancing and increased health and safety protocols. And i could also discuss the First Quarter charges, you mentioned, if you like. Maria well, i know that everybody wants to get back at it, michael, and thats right. Maria we are looking forward to see some change and certainly back to normalization. Michael brown, good to see you, sir. Thank you. Well be right back. R what you . I should get a quote. Do it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. So heres to the strong, who trust in our performance and comfortable, longlasting protection. Because your strength is supported by ours. Depend. The only thing stronger than us, is you. And assemble more vehicles here than anyone else. Its why at moments notice we can take American Ingenuity and our manufacturing capability and put it to work. Building respirators, ventilators and face shields. Building what weve been building for over a century. An unbreakable connection between the Ford Motor Company and america. The xfinity voice remote awill find exactly that. For, happy stuff. The groups happy, im happy. You can even say a famous movie quote and it will know the right movie. Circle of trust, greg. Relax, the needles are jumping. You can learn something new any time. Education. And if youre not sure what youre looking for, say. Surprise me. Just ask what can i say to find more of what you love with the xinity voice remote. Maria welcome back. So ibm leaving the facial recognition business as it looks to focus on racial equality. The companys ceo writing a letter to congress saying this. Quote, ibm firmly opposes and will not condone uses of any Technology Including facial recognition or mass surveillance, racial profiling, violations of basic human rights and freedoms for any purpose that is not consistent with our values and principles of trust and transparency. Mattie duppler, youve had a whole host of of states reacting to facial recognition and even though there are some states in cities like for example, san francisco, they banned facial recognition a year andahalf ago, you still have data banks with billions and billions and billions of peoples faces on them that Law Enforcement has but theres real concern that they could, you know, misuse this information. And show a person thats actually wrong the Technology Gets it wrong and misidentify people. Maria. Mattie absolute i. I for one am glad were having a conversation about transparency and accountability and expectations for our local Police Forces. Do we really expect our Police Forces to be able to run a surveillance state responsibly and with accountability . Im not sure. But that certainly is probably not in the handbook for most folks who sign up to be a First Responder and part of the police force. It is interesting for me with ibm making the decision on the Public Sector side and couching this as a Public Sector decision, its not a significant revenue generator for ibm which is very interesting to me given how much facial recognition is specialized now. Commercial iced now. Iceized commercialized now. Thats an interesting question whether ibm is trying to distinguish between a platform that wasnt generating revenue for them or whether this really is an important business for them based on social values. Maria yeah. I mean, it is a privacy issue. Its true. Well keep watching that because i know that its important to all of us and our viewers including. Still ahead, were highlighting youtube influencers all week. Wait until you meet one creator who doesnt let anything get in the way of motivating her audience. Thats next, right here, mornings with maria. Stay with us. I keep dancing on my own. I keep dancing on my own. My name is trisha. Im 70 and i live in mill valley, california. My biggest passion is gardening. I love to be outdoors. I have jaybirds that come when i call. I know how important it is to feed your body good nutrition. I heard about prevagen and i heard about the Research Behind it. Taking prevagen, i have noticed that i can think clearly. My memory is better. I can say that prevagen is one of the most outstanding supplements ive ever taken. Prevagen. Healthier brain. Better life. vo at whether on the track,that exhor the everyday drive. Ty, today, that philosophy extends to how we connect with you. We call it, audi at your door. Whether a remote test drive, shopping, tradein, or even service pickup, audi at your door can do this and more at participating dealers. The premium audi dealership experience, on your terms. Audi at your door. Maria welcome back. Good tuesday morning, everybody. Thanks so much for joining us. I am Maria Bartiromo. Tuesday, june 9, top stories just before 8 00 a. M. On the east coast. Market comeback s p 500 positive territory for 2020. Nasdaq closing at alltime high yesterday, this as relearn the economy officially fell into recession back in february. End heing the longest expansion in history. Would bel one guest says that recession is already over, meanwhile, the rally reversing market down after rally yesterday dow industrials down 244 s p futures down 25 nasdaq lowe by 36 after a rally yesterday markets rose on optimism for a strong recovery the dow industrials yesterday, up in triple digits, dollar this morning is gaining strength this is up for the first time in nine days, on the dollar this morning. Macys soaring premarket after double beat retailer says it reopened stores performing betterthanexpected giving hooecht reporting nearly 1 billion dollars operating losses macy shares up almost 10 that is off the highs. Now the killing of george floyd thousands expected at funeral in houston call tos disfund disband Police Departments President Trump says we not give up on Law Enforcement opposing efforts to Defund Police forces Small Business optimism rising in america again, as america reopens, this as some states are seeing the a rise in virus cases, the World Health Organization says the spread of the virus by people asymptomatic, appears to be rare. Reversal. Youtube introducing you to the people he gaining popularity a blind speaker nearly 2 million followers find owed keys to success mornings with maria is live right now Global Markets this morning lower ft 100 down 111 dax down 176 dax in joifrm down 220 World Bank Says Global Economy will decline 5. 2 in 2020 similar to what mommed elerian told us expecting growth in third and the Fourth Quarters expecting contraction on year in asia overnight markets higher following that rally on wall street we showed you best in asia was hong kong, hang seng up one and 1 and. 1 dagen, mcdowell, Jon Hilsenrath, mattie duplicator mr. Great to see everybody this morning. Good to be here. Now some top stories that we are watching this morning, President Trump, is slamming call tos defund disband Police Departments during a meeting with Law Enforcement amid george floyd protests. We have great Law Enforcement, very proud of them, there wont be defunding there wont be dismantling of police we are going to talk about how we can do it better how we can do it much more gentle fashion. Maria Top Democrats are also trying to distance themselves from calls to dismantle Police Departments from Vice President joe biden says he is against it. I dont defunding the police i support conditioning federal aide to police based on whether or not they meet certain basic standards of decency honorable negatives are able to demonstrate they can protect the Community Everybody in the community. Maria House Speaker nancy pelosi says a local decision, chairman of the congressional black caus karen bass says it can be used as distraction, senator john manchin calls all this idea to disband police crazy, nuts he george floyd will be laid to rest in houston, thousands of people coming to his hometown to pay respects yesterday, including celebrities high ranking politicians, only family and Close Friends will attend todays private funeral, floyd will be buried next to his mother. He chevy the former minneapolis cop accused of killing i george floyd judge ordered him held on one and a quartermilliondollar bail, Second Degree murder barred yesterday returns to court june 29 critics boll could remain strong novth could merge with storm from rockies expected to unleash winds heavy rain thunderstorms much midwest storm drenched much of the south crews in louisiana rescuing people in rising waters President Trump issued emergency deflation for the state macys big stock story of the morning stock is soaring, as you can see up 9 right now after saying that it reopened stores are performing better than expected but stressing Holiday Season is crucial macy betterr betterthanexpected primarily results for the quarter raised 4 and one half billion dollars in new financing giving it what it says is sufficient liquidity to help survive the covid19 pandemic. Retail Taylor Brands participant of mens rear house may file for bankruptcy protection stemming from coronavirus lockdown. Taking a look at stock ahead of the opening bell as you see a gain, of 5. 9 the stock is hitting 1. 78 a share, covering up coronavirus harvord reach shows covid19 might be spreading in china as early as last august months before first identified in wuhan in december, a Research Based on images of hospitals travel appearance Search Engine data china dismissed report as quote ridiculous joining me Director Center for chinese strategy Michael Pillsbury great to see you thanks very much for joining us we new china down blade the coronavirus we knew they didnt tell the world until january, even though it was showing up, as early as october, now this new report says, it could have been in china as early as august. Of 2019. Reaction very support studys seems to me maria story is getting worse and worse about level of trust, in china. As you know, i think you know, thu. Scdc created chinese cdc 30 years ago nih helped fund the bat Woman Research on function our scientists have been much more involved Chinese Health community than people realized this is harvard study seem example when chinese possibly actively concealed information could have saved tens of thousands american lives President Trump i noticed week and a half ago used a very important word in his press conference he said china was instigating the Global Pandemic so it looks like President Trump is moving in direction of a kind of loss of trust in chinese statements. Maria how do you do that as a as number one superpower dealing with number two superpower President Trump is planning to sign a bill that calls for sanctions, on any chinese officials responsible for o pressing uighur muslims we know there is a communities of uighurs those individuals that are muslim tibetan want to study their own reasonabling but china that is not aloud they have to go to what is called education camps so many call them a lot worse, and locked up forced to study chinese culture, tell me about this bill do you think it will pass . Do you think the president signs into it law . I think religious persecution in china has been issue for sometime it hasnt made much progress, there was a dream maybe 10, 15 years ago by american that china would some day be largest christian nation in the world one of them did not happen they crackdown on external kwhuchz in china not just muslims tibetans reached almost 200 months selfemulated kind of suicide protest of treatment of tibetans china is vulnerable on religious persecution, we focused on trade issues the list of issues of friction has gotten much larger, why so much talk ach socalled new cold war with china. That new cold war has so many aspects to it, we were talking with ibm decision to drop facial recognition business, i spoke with a founder of industries palmer lucky founded oculus sold it but we talking about Artificial Intelligence comparing the way u. S. Military uses facial recognition how china uses it watch. I think the key difference between u. S. Facial recognition efforts and chinese facial recognition efforts, that is in u. S. , our military is primarily focused on using Artificial Intelligence to protect us from foreign threats, in china, they are primarily use Artificial Intelligence to protect themselves from potential civilian uprising using this to monitor their own people their citizens, to try is to beed control what they are doing, to control what they are doing different from o how weve been using in it u. S. Michael, i i mean assess china for us. Youve got facial recognition used to track the citizens, youve got a social score given to those citizens, and now dictate whether or not you can get on plane or get on a train, that is that is the least of it, i mean, now youve got an over reach youve got fofrps owing facetoface china and india they invaded india over reaching South China Sea over reached on hong kong, how is u. S. To deal with partner that keeps lying breaking promises in midst of all the other things i just mention . I give you an example from 100 year marathon 1947 or so in cold war began against soviet union, the cock and president made enormous changes how our government was structured. We created the joint chiefs of staff. Created the cia. Created the National Security council, created u. S. Air force, long list of really coming in the way u. S. Government works, toward soviet union. For china, we have done nothing we have no new people we have no new offices, so challenge is not responded to by congress or president to restructure our government, for this massive threat i mentioned issues you have already mentioned, there is quite a few more, i remember last year marco rubio idea died unfortunately marco rubio wanted a Technology Security czar in the white house for china. Maria right. That was passed over, to me sounds like the president is having a hard time getting a big enough staff to deal with china, you cant do everything himself, he had saying whethers to do about china but not the staff or structure the administration and the administration, has pushed back a lot on huawei American Companies playing integral part competing against Chinese Technology dominance one of the reasons huawei has been shut out because huawei has tools that spy on everybody where infrastructure is in place back doors lead to communist party ccp can understand read what were doing in military on technology, you write about in all 100 year marathon your book really lays it out. Part of the problem with huawei going strong revenues increasing, they have got Something Like 40,000 foreigners including americans working for them r and d huawei had nobody in charge in u. S. Government other than president by himself i think they are pulling ahead attorney general barr had a great idea few months ago why dont we be sure try to get Nokia Ericsson to form an approach with u. S. Government funding, great idea nothing happened. So we see this kind of puny government structure to detail with monster in china nicson called it said i may have created a frankenstein i feel sorry for president right vision doesnt have people and structure the china team in our government you also have china, and ccp team, making continuing to make lots of lobbies in the u. S. Right youve got a lobby in hollywood a lobby in academia, buying up companies a lobby Silicon Valley all those collective lobbies punch for china pretty much good to see you we so appreciate your time we will keep watching this important story thank you, sir. Thanks, maria you make a big impact. Thank you mike pillsbury, fox news kshth former new york city officer dan. Joining me. ; you wont want to miss that stay with us. music there are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. Maria welcome back markets lower this morning take a look at futures indicating a decline 250 points on dow industrials, all three major averages higher yesterday s p 500 erasing all losses from the year, it is positive, the National Bureau Economic Research says the covid19 crisis launched u. S. Economy into a recession in february. But my next guest says, we are already out of that recession joining me right now chief economist at moody analytics. Thanks for joining us do you believe that true it started in february and ended in may . The recession . Yeah the peak in last recession february first recession march business start shutting down recession was march, april and may so may is the bottom. June this month the first month of economic recovery so a three month recession shortest recession in history recessions back to i believe 1854. Recessions about nine months this is shortest also will bemost severe decline in gdp double digits context in financial crisis 10 years ago peaked trough gdp down 4 , so this is about three times as worse, very short recession, but a very, very severe recession. Maria mark let me ask you about that, because the fact that it is shortest recession weve seen does that tell us anything about how the recovery will look do you think we are going to see growth in the third and the Fourth Quarter . What will that growth look like in does it looked like a snapback growth given that such a short recession . Well we are going to get a bounce in q3 that is, you know because businesses shut down q2 reopened now, so we get this big decline in Second Quarter we are going get big rebound in q3. Built i think going to be a bit of a slog after that i just dont see the economy you know fully engaging until the other side of the pandemic, as long as there is potential for a second wave businesses just arent going to fully engage not hire expand, consumers remain cautious, and even on the other side of this buttons unemployment till still very high close to double digits means consumers are still going to be under financial pressure particularly if you dont get more support from congress and the administration, so i dont see this economy kicking into full year until the other side of the pandemic. Maria that makes a lot of sense Jon Hilsenrath from the journal, jon . Mark all counterintuitive, see how you respond i think people are going to be debating for decades, the mistakes made on Health Policy front related to this pandemic but strike to go me here we are two months, later after shutting down 20 plus trilliondollar economy we are talking about a recovery, can one make an argument that the Economic Policy response putting aside Health Policy mistakes, were the right ones that amidst disagreement, that the Health Policymakers got their response to this crisis right . The Health Policy well, i mean. Maria a. No Economic Policy the Economic Policy got it got it. Yeah on Economic Policy i think certainly, they got it right in terms of how aggressive they were in responding so you know there has been three fiscal rescue packages to date 2. 4 trillion, 13, 14 gdp, that is very aggressive, again going back to the financial crisis, all of the fiscal stimulus provided during and after crisis atted amounted to 10 gdp aggressive astounding cushioned the blow i will say i think we need more, support, because, the 2. 4 trillion, will be spent by july going into august. And again if you believe unemployment is going to be around 10 , on the other side of the business reopening, that is a lot of households under a lot of financial pressure if they dont get Additional Support going to pull back economy could go back into recession, so policymakers have gone a good job i think to date but more work to do i dont think they can sit back say oh, recovery underway we dont have to do anything more if they dont odds are expecting pretty hi mark good to have you this morning, go ahead final word. Mark, we will be right back. Stay with us. Save hundreds on your wireless bill without even leaving your house. Just keep your phone and switch to Xfinity Mobile. You can get it by ordering a free sim card online. Once you activate, youll only have to pay for the data you need starting at just 15 a month. There are no term contracts, no activation fees, and no credit check on the first two lines. Get a 50 prepaid card when you switch. Its the most reliable wireless network. And it could save you hundreds. Xfinity mobile. Welcome back coronavirus Millennials Survey shows could take up to nine months for millennials who lost one month income to recover following covid19 pandemic after 4 1 2 years to rebound from six months lost income the survey pointing out the pandemic affect on Home Ownership is real First Time Buyers potentially waiting years for that purchase your reaction . Maria the resident Millennial Panel today let me say i am getting tired of this whole idea that millennials can never get ahead yes tough to graduate college, the beginning of Great Recession we have been working through the longest expansion in human history, as a result of that we have been able to acquire wealthy even if not through Home Ownership one thing from 20082009 not sure thing it was before as means of wealth accumulation if you are a millennial able to get expect bucks put in stock market bottoming february and march made a lot more than you would have on your house there is a lot more wealth accumulation available to millennials now than before should stop crocodile tear game how millennials are getting, we meanings to do do fine over the last 10 years. Would i say that is right, dagen what do you say. Dagen the economy recovers people will be going back to work furloughed workers clearly called back on the job. If that continues, to happen people we say lost income people do, could, did go on unemployment. I know with expand benefits they can get back on the job, by, say, august. Then they were still collecting money albeit from unemployment number one, number two, this is going to be a great time to play real estate as people leave poorly run areas like new york city prices plummet young people will be able to buy an apartment, at a more reasonable price and, by the way, you can still take money out of your 401 k right now, penalty free that was in rescue package if looking for a down payment there you go. That is beauty of booms and but haves busts allow more to come in quick break Fox News Contributor dan bongino joins us to talk about growing call to Defund Police one influencers unique outlook helps motivate in a big way stay with us. Ncoln way. So as you head back out on the road, well be doing what we do best. Providing some calm amidst the chaos. With virtual, realtime tours of our vehicles as well as remote purchasing. For a little help, on and off the road. Now when you buy or lease a new lincoln, well make up to 3 payments on your behalf. Good tuesday morning. Thanks for joining us. Im Maria Bartiromo. Tuesday, june 9, top stories 8 30 a. M. On the button rally reversing course following yesterdays big gains, the dow industrials this morning down 229 points nasdaq down 33, s p down 23. On top of yesterdays big move with s p 500 turned positive for the year. At close yesterday dow industrials triple digits on upside as well kwlobl gobble markets down european indices lower ft 100 down 105 cac quarante paris down 59 dax lower by 185 record decline for german exports in april plummeted 24 , in asia overnight markets mostly higher following that rally on wall street best was hong kong, hang seng up better than 1 meanwhile, this u. S. Federal prosecutor taking on the British Royal family cheryl casone. Cheryl that is right Jeffrey Berman u. S. Attorney from new york Southern District says britains Prince Andrew is lying about wanting to testify on epstein the lawyers claim he offered to help at least three times a woman claimed she had sexually assaulting relations with prince he denies, berman says if serious about cooperating with the ongoing federal investigation, our doors remain open we await word when we should expect him end quote, attorney general barr says doj wants to prince to provide some evidence he will not be extradited from britain to the United States pb google maps transit aalerts to help travel safely as easing lockdown orders did he tech crowd size adds to do navigate checkpoints related restrictions, are Parent Company alphabet trading premarket stock down about a quarter percent, finally a look at what is trending this morning on foxbusiness. Com, wework explores business reportedly handing talks about handing over operations of we live in crystal city a new location new york citys wall street. Based off bestselling book forces on how they bound back. How coronavirus is changing home design trends, featuring food stoinl Space Dedicated videoconference rooms. Those are headlines from newsroom back over to you. Maria cheryl, thank you there is a National Push now for Police Reforms there are calls to defund americas Police Departments, President Trump is standing by the men and women in blue making it clear that with defunding is not an option i spoke with Rudy Giuliani blasted democrats over their handling of this movement. Have we forgotten september 11, Boston Marathon have we forgotten all attempts to attack us again in new york, new York City Police department and fbi stopped. Will you american people, understand, democrats cannot run cities. Is it ask sanctuary policies and that is the issue in terms of running cities or Something Else . Yes, they do i believe in broken window theory the broken window theory understanding psychology build framework for lawfulness disrespect for the law everything nats have done builds disrespect for law. Joining me former nypd officer dan bongino great to see you. Thanks for joining me again what i dont hear with all these calls, to defund the police, is the plan b, so i want to take money away from Police Department, what are you going to do when your home gets broken into when there is a crime . Who are you going to call . Where is plan b, dan . Well there isnt any, i mean maria, this is utter absurdity absurdity maybe downplaying it i cant indemnifies Strong Enough hermz not not high peshbly people of die in implemented teenagers killed not direct action increased Gang Violence potential terrorism threat of organized crime exploding what about over doses, what about dwi has anybody thought who is pulling people over when you dial 911 say a guy in and out of traffic social workers . I gave you capital that is true people will dieven on the low end what else is what are you going to do with turn stiles on subway hows paying why wouldnt you why not just walk into walgreens cvs steal this is so ab sushd i cant believe we are even talking about it. Maria what is the answer then to calls to reform the Police Department what is the answer to weeding out bad apples in Police Department so tone changes not at each other in terms of pointing fingers. There is a way to reform Police Departments there should be better account some reforms on the table now have not really been thought through one example, getting rid of no knock warrants, maria, we have no knock warrants for a reason the reason i dont knock on some search warrants the man or woman on the other side of the door has a history of known violence and killing or injuring Police Officers or others that is why you dont knock, hello were here next thing you know he pulls his gun out if anybody thought this through i want to say Something Else the ban on chokeholds most departments have a ban on a chokehold, many of them dont have a ban some on carotid straighten not choke not airway restriction, not always good idea, having said that if a lethal force scenario you are attacked head cracked off concrete you are a Police Officer, how that is not an option for you to stay alive . You are allowed to shoot them but not allowed to gauge in a carotid restraint does this make sense . This was clearly drown up by people who have never been engaged with Law Enforcement, on the front lines at all, naivete is stunning, aoc congressman tlaib want to do away with Police Department altogether the bad top top of fbi want to ask you about russia probe former National Security advisory Michael Flynns judge expected to give oral argument this week defending why are he has not signed off on Justice Department motion to dismiss this case against flynn, you know Sidney Powell wants that closed, what is your take here . This is stunning only two possible reasons to continue prosecution of flynn would be allowed number one fbi would have had a logan act violation putting aside the logan act is absurdity never prosecuted successfully in the history of United States even if fbi had that case they never drew up on logan act electronic communication they need to open a case that is dead they have nothing on logan act did not have guts to put on paper secondly can say continuing investigation because of counterintelligence investigation, eh big xmarks wrong on that, too on january 4, two weeks before they interviewed flynn they had tried to close that investigation out, citing no o derogatory information there was no reason to interview flynn whatsoever legally, none, the only reason was jim comey and mccabe didnt like him that is it no case, zero. I spoke with Lindsey Graham this weekend, what he is trying to do, he is trying to prove that jim comey and Andrew Mccabe knew in january of 2017 that the subsource of the dossier the wlourn brought dossier to steele subsource had disavowed said bar talk nonsense not true if comey mccabe new in january 2017 dossier was garbage wasnt looks at seriously but kept wiretapping carter page reuped that warrant two more times kept investigating wiretapping Trump Campaign while sitting president , he said that is fraud and that could cute jail time. Lindsey graham said that on sunday your reaction. Think about this, they can quick analogy like investigating someone for a bank robbery not only finding out he didnt rob the bank, but no bank was robbed at all they interviewed source for the dossier, maria in january of before appointed source said i did not say that this is all like bar talk that was innuendo that is not me i didnt say that, not only do they keep going at the appoint mueller to investigate same hoax they know is a hoax already been discredited, rally headed scratcher every way not a headscratcher we see what they did the bottom line, the thing, the four fbi agents that interviewed subsource apparently Lindsey Graham wants to interview those four fbi agents this they come back say we told superiors we told mccabe jim comey he basically disavowed all that information because they want to pin it on four guys we will see Lindsey Graham said is going to interview them more news for sure i want to get you to react when it does happen dan thank you so much for weighing in here. Thanks for about Lindsey Graham on that i like him but having the matters you are doing a great job i pressure it. It does thank you dan bongino, coming up yu tube rs all week meet todays introducing fluencyer coming up say with us. Maria again for another i have with me maria welcome back that was molly burke following ballooned to two million subscribers showcases journr journey as blind cr exploring the world motivational speaker, great to have you this morning thank you so much for joining us wow amazing what you have been able to do, even with barriers tell me how you created your business. So you know, i found youtube as viewer back in 2008, i went blind into was doing very isolated very alone found a Community Online i knew i wanted to be part of creating on that platform be part of building my own community, and, finally, you know six years ago i did, and never looked back an incredible journey. It is how were you able to do this even with being blind mollie. You know despite being blind always loved visuals of life makeup fashion hair colors, hosting individual platforms wasnt Something Different for me i had Creative Ideas how i wander things to look in my mind it was about finding people could support me doing that build up Incredible Team amazing editors management my mom works fulltime for me, so definitely, with village. When did you first have this blindness tell me how it impacted your life and how you were able overcome it. I was diagnosed with disease four years old, progressive so they knew some point of its going to go blind they couldnt necessarily say when that was going to be my whole life preparing to when going blind public speaking about it since five years old, fundraising, and you know once that day came i went blind you never know how you are going to react, i was definitely going to be depressed the only community on youtube so important to me escape from all the troubles i was facing in real life. Maria wow, you are an incredible woman mollie tell me about the tips that you have for people trying to build their own brand, and how much money can you make from having this Youtube Channel tell me about the opportunities that exist. The biggest advice i would give you know at the end of the day algorithm preplanning sxreelgd ahead of schedule as possible, i say i would film edit at least five to 10 before you post one comfortable if front of camera flow vibe going develop your style definitely something i had done so i like to share that advice with people definitely can be lucrative fulltime living doing youtube, so i feel very fortunate to be able to do that. Maria you make money from your subscribers or also advertising based . Yeah multiple Revenue Streams for me, i make money through ads working with Brand Partnerships through selling merchandise through motivational speaking audio book not what it looks like lots of different Revenue Streams. An amazing story thanks very much for sharing it with us you are terrific we will be watching, mollie burk joining us chuck e. Cheeses lifeline how arcades bounce back after the pandemic. Stay with us on that, right the after this. [shouting] [clapping and shouting] [cymbals clanging] [knocking] room for seven. And much, much more. The firstever glb. Get 0 apr financing up to 36 months on most models, and 90day firstpayment deferral on any model. Maria welcome back like other things indoor arcades play zones looking different as companies figure out a new business model, amid the coronavirus pandemic, Grady Trimble joins is live outside chuck e. Cheese in illinois, with more grady good morning to you. Reporter good morning, maria, chuck e. Cheese other indoor arcade type places have faced financial challenges lately chuck e. Cheese looking to raise money to avoid bankruptcy filing according to the wall street journal not off the table, at the same time, the company are reportedly paid three Million Dollars in executive bonuses to help navigate through next he steps Coronavirus Closures hit chucke shes hard more than 500 locations across country are closed right now only about a handful in 10 states have been able to reopen. With new Safety Measures in place temperature checks at the door kids wont get hands stamped anymore they have a selfie taken employees sanitizing games every 1 2 hour many are not allowed to reopen until later phases of state reoptions once able to reopen will parents be comfortable taking kids to them . For now a lot remain closed burning cash not generating revenue at a time would ordinarily be particular with kids out of school good news in arcade world dave busters following precipitously at beginning of pandemic now climbing last month or so more good news back here at chuck e. Cheese if you are a fan of pizza or wings selling that you can pick up for carryout, there you go. Good to know that grady, thank you Grady Trimble this morning joining us, on how things are going to look different retail hit hard, of course, as coronavirus shutdown for several companies to seek bankruptcy protection, Taylor Brands Parent Company mens warehouse reportedly looking to reorganize dent Brooks Brothers reportedly at risk of shutting down a lot of names here Dagen Mcdowell neimanmarcus j. Crew pier1 j. C. Penn unify we talked about down that bankruptcy path. Dagen i think 100,000 Retailer Stores that are expected to shut down over next five years this is the permanent job loss that is most concerning, quite frankly, everybody if jobs disappear where will those employees be able to find other opportunities we talked about macys now that macys has enough funding to avoid bankruptcy protection it can look at the the trouble that other retailers are having as a possible opportunity, how do you get those shoppers into macy stores. Yep good point we will break when we come back weve got more on mornings with maria. Stay with us. Maria welcome back. Final thoughts from this allstar panel. Jon . In the last week, weve gotten evidence that a recession started in february and ended in may. Its great news that the recession seems to be over but we still have a very long way to go to fully climb out of what it caused. Maria maddie . Thats exactly right. I would like to see congress continue to negotiate the next opportunity for them to respond to this and not take their foot off the pedal yet. Maria dagen . If you talk about defunding Police Departments and then putting money into social services, is that money wasted if its in the hands of bill deblasio, it sure as hell is. Maria there you go. All right, everybody. Great show. Really important thoughts there. Have a great day. See you tomorrow. That does it for us. Varney Company Begins right now. Ashley webster is in for stuart. Ashley, take it away. Ashley hey, thank you, maria. Good morning to you. Good morning, everybody. Stuart is back tomorrow, by the way. Today we are looking at a triple digit selloff. We will get into that. The market has seen a historic runup over the past few weeks. Alltime high for the nasdaq, the s p going positive for the year but this morning, looks like investors are cashing in just a little bit, maybe a little bit of profit taking. The futures, as you can see, on the dow off now 308 points. Good for a 1 or more selloff. Despite that, we have more signs of things returning to normal. Macys surging after reporting its reopened stores are performing better than exp