Transcripts For FBC After The Bell 20240712

Are still 34 up from the lows we saw three months ago. Remember nasdaq closed at record high above 10,000. That milestone just yesterday. Fox Business Team coverage, blake burman with the latest from the president. Well kick it off with Lauren Simonetti on todays selloff. Lauren . Lauren melissa it spared almost no one today. Investors are still reacting to the federal reserves cautionary tone about the recovery yesterday, along with the cautionary tone from the pandemic itself as more states report more coronavirus cases. That is raising fears of that second wave of infections as the economy struggles to recover. Another 1 1 2 million americans filed for Unemployment Benefits last week. Number have fueled, received aid for two weeks stands at 21 million. Stocks that have outperformed as the country reopens are the ones getting hurt the most today, like travel shares. Look at some travel names. Many of them have doubled sentence their lows in midmarch. So they still have more selling possible, if you want to look at it that way. Look at that, united down 16 . Also look here at homebuilders. Shares deeply, deeply in the red as fears build that a second wave could hit the real estate recovery that weve seen. Take a look on the medical side of things. A rare green arrow more mow derna. It plans to start a latestage trial for its covid19 vaccine next month t was only up 13 cents, moderna. It could do that small gain. Regeneron begun trials of cocktail of antiviral drugs for people that dont respond well to vaccines. The overhanging worry of the slow recovery. That took the price of oil down 8 to 36 a barrel. The pullback in prices might cause shale producers to pull back on their plans to restart production. So in the end of an ugly session, it was the worst day for the dow since the middle of march. It closed down over 18 points. About 50 points off the low of the session. Nasdaq well below 10,000, falling for the first time in five days. Back to you, melissa. Melissa thanks, lauren. Lets bring in scott martin from kingsview asset management. He is also a fox news contributor. He joins us on the phone of the what did you think of the selloff today . Melissa, it was a long time coming. We got to remember days like this do happen, especially in markets like weve had this year and lets get some perspective as you guys talked about at the beginning of the show. The s p and nasdaq, are roughly melissa, back where they were at end of may, depending on the index. There was likely some a in this market. With the fact we do have covid resurgence, the market had a reason to sell and spark that probably lit the fire too the fact came out yesterday an reaffirmed some of those economic challenges that lie ahead. For our money, what were doing at conditionings view asset, a lot of times this year i still think gold is one of the best bets on the block to make. With the fed backstopping basically everything that the banks have ever lent in the history of the world, that the fact that the treasury is printing trillions of dollars to fix whatever problems are out there, including ones that havent occurred yet, gold to me is something you should have in your portfolio. It was up surprise or no surprise. I want to tell people what theyre looking at on the screen, scott, if i can jump in for one second. Here is the president who is wheels down air force one at dallas love field. He will have a roundtable coming up in a short time which he called transition to greatness, restoring, rebuilding, and renewing this is happening in dallas later on this evening. He has remarks at joint fundraising din are closed to the press. This is him arriving in dallas right now. And scott, let me ask you, you know, some are saying that this we saw today, more about the idea, there was a record yesterday. It is riding the wave of where traders think other traders are going, in the sense that you see a record, you sell your winnings, you know theyre going to release more news about the coronavirus cases. We dont know that it is really necessarily a slower recovery. Could be more testing is one of the reasons that were seeing an increase. In other words, you know, it is trying to capture the beta. Trying to make money in a market that goes up and down. What do you think about that . Great call, melissa. As you know from your experience, you mentioned beta, alpha, outperformance you get on some of these stocks eventually turns into beta because everybody does it. It kind of crowds out the trades and crowds them in even as you said. Yes i think some crowded trades are coming off. Not to say they wont go back. To your point about covid. More testing, more preparation at hospitals. We have a lot of clients doctors, physicians, melissa, hospitals are worried as they have been. Theyre more prepared as well. Even if there is second coronavirus shock, god help us if there is. But if there is, maybe well be aable to be more prepared for it, both economically and socially. Melissa scott martin. Thank you for that, connell. Connell lets get, melissa to the virus numbers as country slowly gets back to work. Weve seen a number of states reporting spikes in new coronavirus cases. Remember the u. S. Now also surpassed two million total cases. To foxs jeff paul live in los angeles with details, jeff . Reporter yeah, connell, despite those infection numbers going up many states that are planning to reopen are moving forward with those plans to reopen. Here in california theyre going to start operating gyms and campground this while hospitalization numbers are beginning to spike once again. This is the story were seeing play out across the country in at least 20 states. So those numbers going up. Arizona, carolinas, utah, and arkansas find themselves with higher numbers and texas, one of the first places to begin reopening, setting new records for corona related hospitalizations on three state days this week. 2100 patients were admitted yesterday alone. But once hot spot of new york doesnt find itself on this increased cases list. Governor andrew cuomo explaining his state is the exception. You reopen, number continues to go down. How can that be . Because our reopen Something Different than their reopening. Our reopening is based on the numbers. Our reopening is phased. And because new yorkers have been smart, and they have been diligent. Reporter Johns Hopkins University Also predicting 100,000 more deaths linked to the virus by september. Beyond the u. S. , the virus continues to cause problems around the world. The u. N. Economic group says the world right now is going through the deepest recession since the 1930s great depression, saying the Global Economy could shrink by 6 this year. Just announced movie chain amc saying it could have nearly all of its 1000 plus theaters reopened by july, just in time for Christopher Nolans premier. Connell jeff paul live in l. A. As u. S. One is landing in dallas. Dr. Mark mcclellan from Duke University center of margolis center. Where he is director. Were checking in right now, wondering how the reopening is going . Clearly some investors are concerned. What metric should they be watching most closely to see if another shutdown that might be something that Health Experts recommend at some point . Connell, it is important to watch the trends as you have been talking about. There are increasing numbers of cases and increasing numbers of hospitalizations in many states that avoided those big surges at the beginning of this pandemic recall they are year. So new york, new jersey, those states are coming down quickly but in areas where the case rate started out low, theyre going up and question to watch are those trends continuing . That lags behind the actual spread of the virus and the other question to ask is, are there further steps that these states can take to slow down that spread so that we dont get up to crisis levels of care. Still a lot of excess Hospital Capacity in many places but it will be tough for the economy to continue to reopen if these trends continue for long. Connell okay. Couple things. You see the president has made his way down the steps of air force one. This is dallas, texas. Were expecting some sort of announcement before his roundtable discussion that should begin shortly. If that happens in our hour well bring it to you, the announcement, that is. I dont believe kind of a big policy announcement but well see what comes out of the president. Youre talking about it will be tough to reopen. That reopening process, mark, has started as you know. What concerns you in terms of, what youre seeing . Is it some big Population Center states like arizona and florida . Some of the states were seeing a spike their overall cases are still quite low . Thats right. Their overall cases are low. So thats good news and rate of increase in cases is nothing like, connell, what we saw this spring in places like new york. So that shows that the steps people are taking around distancing, around wearing masks, around being careful about how long theyre in close proximity to lots of other people, those steps are working. Theyre just not working quite well enough to hold case level steady. So what i would like to see is some more progress on paying attention to these steps that really do seem to work and also more progress on making tests available for people who have symptoms, helping them isolate and then, tracing the cases around them. That is the best alternative to a broader shutdown which i hope we can avoid. Connell okay. Let me ask you that as a twopart question as our final question. What odds do you put on some sort of a broader shutdown being recommended again . Do you think it is quite unlikely . Then on the testing i do want to ask you about that. Some are optimistic about economic recovery. Well tell you reason were seeing a spike because were testing more. What about that . I dont think it is just were testing more. In many of these states it does look like there is community spread. It is continuing to grow but that doesnt mean it is going to continue if we watch the steps that were taking to prevent spread. So that are things that people and businesses can do around distancing, around masks. It is also more availability of testing, that people who have symptoms, very importantly, for people who do have symptoms if they isolate themselves, avoid spreading to others, if were able to track down their contacts, their close contacts and prevent spread from there, that is the best alternative to a broader shutdown. I dont think were going to see anytime soon a National Shutdown or anything like that but we could see different regions of the country that start to face real threats to their Health Care Systems having to take steps back. That could happen on regional basis but, connell, these steps we can take now to void those kinds of steps back from happening. Connell all right. Well watch that regionally and im sure investors will as well. Dr. America mcclellan from duke as the president is now rolling into dallas. Melissa. Melissa all right. President trump as you can see on your screen, he is getting set to hold a roundtable discussion in dallas, texas on restoring the u. S. He is expected to address policing and justice disparities across the u. S. Well bring you any headlines from the president this hour. Plus growing movement in silicon valley. Microsoft announcing today that the company will not sell facialrecognition technology to Police Departments, at least in the u. S. Microsoft following similar moves by amazon and ibm and joining the fight for change, apples ceo tim cook announcing today a new Racial Equity and Justice Initiative with a 100 milliondollar commitment from the company. Cook says the initiative will begin in the u. S. And then it will expand globally. Alike and customize your Car Insurance so you only pay for what you need. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. The first and only full prescription strength nonsteroidal antiinflammatory gel available overthecounter. New voltaren is powerful arthritis pain relief in a gel. Voltaren. The joy of movement. vo w voltaren is powerful aat whether on the track,thatl. 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. Connell so moments from now President Trump expected to hold that roundtable event we mentioned in dallas. We saw him getting off the plane. Theyre all set up for him. The way theyre billing it, it is supposed to be about the rebuilding and revitalization of our country. In back in washington, Senate Democrats are urging more coronavirus updates delivered from the Coronavirus Task force on potential of a second wave of the coronavirus. Blake burman with more on this. Reporter Chuck Schumer said Senate Democrats want to be briefed by dr. Anthony fauci and dr. Debra about, and Coronavirus Task force and they want to be briefed by next week. They talk about the case cast increasing and unemployment claims releases this morning. The president always interested in himself, not in the good of the country was too quick to sideline the Coronavirus Task force. To eager to pretend everything was back to normal and better than ever. The country needs dr. Fauci on billboard but the president wants to put him on milk carton. Reporter according to Johns Hopkins university, 33 states have a testing Positivity Rate under 5 . These 17 states, plus washington, d. C. Are above that. The World Health Organization uses that figure as benchmark, it gives enough assurances to make informed decisions about reopening. One of the president s Top Economists today says that is a number that the white house is looking at. We said look, for Positivity Rates tests below 5 . Positivity rates are trending down in most places around the country, sadly not the arizona and South Carolina which jump out of the data. Positivity rates below 5 , there is ample testing for surveillance which makes it a lot easier to have very, very safe places to work. Reporter youve been talking about president as were looking at live pictures there. Dallas, texas, we anticipate him shortly as he walked off air force one. One of the things that well look for, connell and melissa, whether the president puts forth any concrete ideas as it relates to police reform. We have heard from democrats in washington. Senate republicans have their ideas as well but the president has not put any specifics yet forward at least as of this point. So the white house has said that it is coming shortly. Back to you. Connell and because of that we will go there live for the beginning of his remarks to see what he says. Blake, thanks. Melissa . Melissa all right. Here now to react is charlie hurt, the Washington Times opinion editor and fox news contributor. Charlie, what do you think the president needs to achieve today . Well, i think that you knee, need cautious and welcome cheerleading for the president about the right direction the economy is going. Obviously its a rough day today, and its a rough path ahead. When you look at unemployment numbers were looking at right now, each, every bit of that represents people who are out of work and that is a terrifying thing and a very, very troubling thing but it does look like things are going in the right direction and, you know, the economy is going to determine whether President Trump gets another term or not and if people feel like were going in the right direction, they will give him another shot. If they dont feel like it is going in the right direction, they will give somebody else a chance to try to do something. Melissa you still think it is all about the economy even though we have some really big competing interests right now . I mean there is still concern over the coronavirus, i guess depending who you talk to but we look at thats what the market in part is being blamed on that today as places try to reopen and you try to handicap how much they will be able to reopen. How good of a job he is doing on that . There is also obviously massive social unrest and you look at the situation in seattle where it seems like the local government there is cooperating with those who want to essentially overthrow the government itself in that area. So, there are some, i mean law and order is huge and health is huge. You still think the economy out weighs those . I do believe that at the end of the day the economy is what is going to determine this. Obviously, usually elections wind up being about one central thing and certainly security, law and order are going to be vitally important right now but if president , obviously, think about what President Trump has been handed. It is only june and the guy has been through impeachment. He has, im looking at it from strictly political standpoint in an Election Year. He is looking at a pandemic, an economic collapse and now riots. I dont know of a single politician in our history that has endured that, that number of calamities, of plagues, to hit them in an Election Year and again it is only june but i do believe that the economy, the reason the economy is so important because it underscores, it undergirds peoples overall optimism. If they are optimistic about their future it also means that theyre optimistic about their security at home and, obviously you know you have democrats are talking about closing Police Departments and defunding the police which is truly nuts, but i still think that all of that plays into a much larger overall feeling voters have, am i going to be able, am i going to be able to ride this out or not . If they feel like theyre going in right direction, that they will, they will if i give him ar chance. If they dont, they will give joe biden a chance. Melissa i want to explain to people what theyre seeing on the screen here because we had been showing you the inside where theyre about to have the roundtable but the protesters are at the church, Hill Recreation Center in north dallas, across the street from the church where that roundtable is taking place. Our reporter on the ground there Casey Stegall are there. They are mostly members of the black lives matter movement. Many are Holding Signs say defund the police. No justice, no peace. Our reporter on the ground also saying there are a handful of people there in support of President Trump and various other on lookers, but theyre reporting there that there are a couple hundred people that are standing ready to protest the president when he arrives. Charlie hurt. Thank you so much for your perspective. I want to tell our audience well also bring you the president s comments from dallas as soon as they begin as well. Connell . Connell yeah, these protests, melissa, may be something the president deals with as he gets out and aabout more. The rallies are supposed to start with one in tulsa, oklahoma next week. Well bring you to dallas. We have other news to cover. Delivery apps on the hot seat. We talked a lot about this from restaurants. One owner Restaurant Owner denver reeling from the pandemic, accusing grubhub diverting sales from his business in a new lawsuit. Well be right back. As you get older, staying sharp is more important than ever. Wheres my tablet . You have to remember the names of your grandkids, pets, your soninlaw. Favorite soninlaw. And the eternal question, where did you put your glasses . Sure, you can spend the day looking for things that you misplaced. Or you can take natrol cognium. Cognium improves memory and recall in healthy adults. Its safe and is shown to be effective in multiple human clinical trials. Six letter word for head . Noggin. Stay sharp. Stay you. With natrol cognium. And my password . Melissa new normal in the skies. Airline stocks plummeting today as the industry works to recover from the coronavirus. Companies are now adopting new measures to keep passengers safe as they fly. Ashley webster joins us now with those details. Ashley . Ashley hey, melissa, the pandemic no doubt has decimated the airline industry. This year alone the airlines could lose a combined 84 billion every day theyre burning through 230 million. They need a cure quickly so what can they do to bring back passengers and restore confidence . Well, jetblue, southwest and delta already committed to leaving the dreaded middle seat empty for now but they are looking at other solutions. A Company Called universal motion developed a simple barrier between the two end seats. That offers a decisional tray space at the base as well. That is one option looked at right now. Plan bay of france offering something similar, only this time it will have seethrough plexiglass dividers. If you want to see your fellow passengers that is. That is a big if. It provides plexiglass protection from passengers seated behind you. There you go. It is next design from a company in the uk that may interest the airlines the most. This one, provides a plastic shield that fits in between each head rest, meaning the middle seat can still be filled. Transparent face guard and lining is designed to limit droplet transmission. Sounds wonderful. I bet you cant wait to fly. One middleeastern Airline Reportedly signed up for the technology. Bottom line with some officially 10 days from now, Airlines Hope to find a solution as quickly as possible. Prospects for a quirk rebound are uncertain at the very least. Melissa, connell, back to you. Melissa some of those pictures are very interesting there. Ashley webster. Thank you, connell. Ashley yeah. Connell were still waiting for the president to make remarks in dallas. Well keep an eye on that. Should be happening in a few minutes. Once he begins well break into that. Bring you any breaking headlines from the president. Also small town businesses already hit from the pandemic are uncovering a brand new threat as they fight to. Hitting the reed in age of social distancing. Of the garth brooks announces plans of a one night concert broadcast at 300 driveins across america june 27th with adding safety property calls in place adhering to cdc guidelines and state and local mandates. 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So, for a second time were giving members a credit on their auto insurance. Because its the right thing to do. Were also giving Payment Relief options to eligible members so they can take care of things like groceries before they worry about their insurance or credit card bills. Right now is the time to take care of what matters most. Like weve done together, so many times before. Discover all the ways were helping members at usaa. Com coronavirus connell more now on President Trumps event in dallas. The president expected to meet with Law Enforcement officials, Small Business owners and faith leaders. As we told you earlier, protesters are gathered outside the venue where the president s motorcade has just arrived. Fox news correspondent alicia acuna in dallas with the very latest for us. Alicia . Reporter hi, connell. Yes, the president is accompanied by the attorney general as well as hud secretary ben carson and the u. S. Surgeon general jerome adams. John roberts is telling us that white house officials are saying that the president , will quote, paint a picture overview how to bring about equality and opportunity. This is a very significant moment for the president. He is planning to kind of paint an outline of what he is hoping to come. We will stand by for that. White house officials have described this roundtable as solutions to historic economic and Health Justice disparities in american communities. As you mentioned, faith leaders, Law Enforcement, Small Business leaders among the attendees with number of administration officials. This event is being held at Gateway Church, one of the nations largest megachurchs. The president will announce plans for holistic revitalization and recovery all this as the white house continues to tout the president s work on criminal Justice Reform and with minorities. How much will be absorbed by the public remains to be seen. Of note, this meeting comes 48 hours ago, 250 miles from here, the world watched as george floyd, eulogized. A blowback from that death prompted this conversation. Connell, todays roundtable, were told the president will have an interview with Harris Faulkner, fox newss Harris Faulkner aired later on today on fox news channel. In addition the president will attend a fundraiser here in dallas. From there he heads to minister, new jersey. He has a fundraiser there. He will also deliver the west point graduation address at west point. Connell . Connell melissa. Melissa here to noun the emergence of President Trump campaigning is joe concha, the hill media reporter. We can expect the notion that the president will try to get back out on the road where we can connect with supporters and continue to build that network that he has, getting people and, you know their phone number, their address, their support but on the outside the opposing forces will do everything they can to show up in force and make that the story, protests that are going on outside and to the extent that may turn violent, whatever that image turns into. Presumably a lot in the Mainstream Media will focus on what is going on the outside as well. How does he balance that and deal with it . Melissa, it is an optics game. As you mentioned he is most confident, he has the most energy, feeds off the crowds most when he is on the stump but in the middle of a pandemic will this be seen as a bad look in terms of having rallies and people in close quarters . I think the way you answer that question, depends on how you vote, right . If you saw the protests over the last two weeks you saw millions of people not obeying any of the cdc guidelines set forth by dr. Fauci, dr. Birx in terms of no social distancing so in an arena why shouldnt the President Campaign and have rallies move ahead with a optimistic message. That is what he is betting on, melissa, optimism, that things will get better from a very bad place in march and april. We saw that with the jobs report just last week. So again, joe biden is at his best when he doesnt speak as much in uncontrolled situations. He is not a big rallies guy anyway. The president knows this is what he needs in terms of getting back on the map, getting his poll numbers back up again, but again, you need energy. I know the president will probably outwork his opponent as he did in 2016. You need an optimistic message by the way, melissa. Joe biden, i dont know what his slogan or Bumper Sticker is, besides trump is bad, vote for me im a nice guy. Economy is on the way back up. Were on the way back. Give me another four years. Give me another chance in terms of making this country great again. That is the optimistic message. Melissa but do you think he has to stick to going to places where the local government isnt going to get rick rolled by the people who come out and seem to be protesters but then there is the bait and switch and it turns out these anarchists and professional protesters who come out to create havoc . You look at the situation what is going on with seattle. How the mayor, not only have they lost control of a portion of the city, you know, as Security Professionals say, theyre part of that. You know they have said do you need water, do you need bathrooms . Theyre supporting having lost part of the city, the local mayor is. Can he not go to places where you know the local government and governor has ceded control . Is that one reason why he would like to move a convention from the place like North Carolina where the governor is not friendly to him to a place like florida where he can count on law and order support . Well, first of all, melissa, great use of rick roll, dont think i didnt notice that. Outstanding job. Melissa thank you. Elections come down to seven states, florida, North Carolina as you mentioned, ohio, michigan, wisconsin, pence sane, throw in arizona or New Hampshire one of those states. He will primarily be in those areas. As far as campaigning in washington state. Of course that wont happen. That will always stay blue or california for that matter. Say the anarchists they can travel. They can go to any rally the president is having. That would play into the president s hands if you see anarchy outside of protests in terms of professional agitators causing trouble. The president wants to be the law an order president. He can make this argument. You see what is going on out there. On your tv screens. That is going to be your reality if you allow a democrat to go into office. They were the forces behind defunding the Police Taking over in terms after biden agenda. Even if the Biden Campaign doesnt say it there are plenty in the Democrat Party who have, you can use the broad brush to paint the party weak on Law Enforcement, weak on law and order. It could be a positive in the end believe it or not. Melissa i guess but they will focus on images of police maybe, you know, beating back those protesters, or you know, trying to defend and say its trump asphalt for coming as opposed to looking at the situation in seattle. You can let that video play all day long. He has nothing to do with that. That is the local government just letting that go on and condoning it which is the, strongest argument ever that if you want, if you elect democrats this is what youre going to get. Thank you for coming on. See you again soon. Thank you, melissa. Connell the president is about to speak live in dallas. Well be right back with his remarks. Dont go away. Here comes the president. We were about to cut to commercial as he comes out in dallas. This event will turn into a roundtable discussion as you see behind the president , have a title transition to greatness. As alicia acuna reported were not expecting any kind of major new policy announcement on policing or anything else from the president. Possibly some new initiatives may be hinted at in terms of what he wants to do on that front. Lets listen live to the president in dallas. Great job. Thank you very much for being here. Its an honor and very important time in our country. A lot of things are happening and i think when it all ends up it will end up very good for everybody. It as an honor to be at Gateway Church with the attorney general, our great attorney general, william barr. [applause] and my friend, ben carson who has done a fantastic job at hud, secretary. [cheers and applause] and a young star, jerome adams, general, where is jerome . Jerome . [applause] along with a lot of my friend out in the audience. In fact a lot of the great political leaders from texas i see. Some great, great friends. I want to thank you all being here. Faith leaders. Members of Law Enforcement. So important, we want law and order. We have to have a lot of good things but we have to have law and order. [applause] got to have some strength. You have to have strength. You have to do what you have to do, you look at seattle. We came in. Seeing it over the screen. Bill and i were talking about. Look what happened in seattle. They took over a city a big city, seattle. A big chunk of it, a big chunk. Cant happen. That couldnt happen here i dont think in the state of texas, would it . [applause] [cheering] ing. To thank pastors Robert Morris and steve dulan theyre great people. Great people with a great reputation, i have to say that. [applause] Gateway Church the team is incredible hosting this. I would like to ask pastor morris and Bishop Jackson to lead us in prayer. Thank you. Thank you. Lord, we need you. We need you at this time in our country and i thank thank you fr president. I thank you lord for our leaders. I thank you, thank you, thank you. I know in the bible that when something was emphasized it was repeated. Holy, holy, holy. Thank you, thank you, thank you. Lord, that we are about to bring tremendous progress to a problem thats been here for a long time and i thank you for this administration and lord, we pray your blessings, your guidance today on this meeting in jesus name. Father, we thank you so much for what youre doing today. You have revealed so many things that are untoward, even evil but we ask according to isaiah 50 4, that you would give us the tongue of the learned. That we should know how to speak to the heart of this nation. Give us a word in season to him thats weary and waken us morning by morning, god, that we would hear and speak. We have a great, courageous president who is a Problem Solver and let him speak as your mouthpiece and act as your instrument and we thank you for this time, amen. Amen. [applause] thank you very much. Want to thank you bishop, thank you very much, pastor. Thats great. Were going to be discussing some pretty important things today i think. It is all important but the timing of this is very appropriate. This was set up actually a long time ago but the timing is very appropriate. We are here to listen to community and faith leaders. Going to be hearing from a lot of the good ones. Some of the great ones but a lot of the good ones and to present our vision of advancing the cause of justice and freedom. From day one ive been fighting for the forgotten men and women of america. I think weve been doing a great job of it. Weve been doing a lot in many other ways but, gets lost a little bit sometimes, bishop, you know that gets lost. Weve done so much, a lot of things weve done were proud of gets lost. We got criminal Justice Reform passed. They have been trying to do it for many years and they [inaudible] [applause] we secured permanent and recordsetting funding for hbcus, that is historically black colleges and universities. We saw funds [applause] we created tens of thousands of jobs with opportunity zones. Tim scott and we had great senator from South Carolina that many of you know, he came with an idea. I thought it was a great idea. I got it done. A lot of people said it wouldnt happen but nobody thought it would be as successful. Tens of thousands of jobs in communities where that money wouldnt go. We achieved the lowest black unemployment in our history prior to the plague come back from china. That will happen soon. That will happen very soon. [applause] in recent days there is vigorous discussion how to insure fairness, equality and justice for all of our people. Unfortunately there are some trying to stoke division and to push an extreme agenda which we wont go for, that will produce only more poverty, more crime, more suffering. This includes radical efforts to defund, dismantle and disband the police. They want to get rid of the police forces. They actually want to get rid of it. That is what they do and that is the way they would go. You know that because at the top position there is not going to be much leadership. There is not much leadership left. Instead we have to go the opposite way. We must invest more energy and resources in Police Training and recruiting and community engagement. We have to respect our police. We have to take care of our police. Theyre protecting us. If theyre allowed to do their job they will go a great job. You always a bad apple no matter where you go. You have bad apples. There are not too many of them. I have can tell you there are not too many of them in the police department. We know a lot of members of the police. I was listening today, a friend of mine was on, some of best people he ever met were police people, Law Enforcement people and taking care of people in many cases they never even met before and at great danger, great risk. They got shot for no reason whatsoever. Although theyre wearing blue. They get knifed. You saw that the other night. A horrible thing. But there is no opportunity without safety. In chicago, 48 people were shot and 18 in one day, sunday, may 31st. 48 people shot, 18 people killed. You dont hear about it too much. Every child should bible to go up in a Safe Community free from violence and fear. They have taken a lot of the Police Protection away in chicago. They have great, great police in chicago. I know chicago very well. They could do the job very easily. Americans are good and virtuous people. We have to Work Together to confront bigotry and prejudice wherever they appear but well make no progress and heal no wound by falsely labeling tens of millions of december americans as racist or bigots. We have to get everybody together. We have to be on the same, same path i think, pastor. If we dont do that, we have problems. Well do that. Well do it, i think were going to do it very easily. It will go quickly and it will go very easily. We have so many different elements of strength in this country. We have such potential in this country. We have the greatest potential, we have the greatest country in the world but we get off subject. We start thinking about things that dont matter or dont matter much. And important things we dont even discuss but were here to discuss some very important things today. Politicians make false charges and theyre trying to distract from their own failed records. They have some very bad records. And these are usually the ones that cause the problems or cant solve the problems. These are the same politicians who shipped our jobs away. Took tremendous advantage of all americans but africanamerican middle class, so much of that wealth and that money and those jobs went to china and other countries and they get trapped, they get trapped, trapped in a government morass. They get trapped in bad government schools. So im going to be announcing four steps to build safety and opportunity and dignity. First were aggressively pursuing Economic Development in minority communities. Were doing it very powerfully. We have done it with opportunity zones but were going above that. At the heart of this effort is increasing access to capital for Small Businesses and thats with minority owners. In black communities and were going to get it done and it should have been done a long time ago. It has been very difficult, very, very difficult for some people, been unfairly difficult. Second, were confronting the Health Care Disparities including addressing chronic conditions and investing substantial sums in minorities serving medical institutions. We have medical institutions in some areas of our country that are a disgrace. I was going to say not up to standard. Theyre much worse than not up to standard. Theyre a disgrace. Take care of it. Third were working to finalize an executive order that will encourage Police Departments nationwide to meet the most current professional standards for the use of force including tactics for deescalation. Also well encourage pilot programs that allow social workers to join certain Law Enforcement officers so that they Work Together. Well take care of our police. Well take, were not defunding police. If anything were going the other route. Well make our police are welltrained, perfectly trained. To have the best equipment. [applause] some of the things that we have heard because i know a lot of the people in the audience and theyre professionals, what they do. Theyre successful people. And were hearing things that are not even thinkable. I didnt even hear, i never even heard of this before last week, it was like, it started about a week ago where i heard they want to close up all police forces. Thats what theyre attack on very liberal governor in the state of washington its. We want the police force closed. It is not like they want to, sort of bring a little money into something else. They want to actually closed. I am thinking what happens late at night when you make the call to 911 and there is nobody there . What do you do . Whether youre white black, or anybody else, what do you do . [applause] youre dialing and somebody breaking into a house, it happens to be a violent person. There are violent people around, pastor. Even you will admit that, right . We want to think the best but you have some very violent people and when theyre breaking into your house at 12 in the evening, youre sitting there, you dont want a police force, theyre actually talking about not having a police force. That is not happening with us. Well have Stronger Police forces. That is what you need. In minneapolis they went through three nights of hell. I was insist extent having National Guard go in do their work. It was like a miracle. Everything stopped. I never forget the scene. To me it was, after you watch policemen running out of a police precinct. It wasnt their fault. They wanted to do what they had to do. They werent allowed to do anything. It wasnt really their fault. They were running down the street. They werent allowed to do what theyre trained to do. And they took over the precinct. They burned it, essentially burned it down, pretty good at construction. I want to tell you, that was almost what we call a complete if youre lucky. And it was a very sad thing. I dont think ive ever seen anything like that. But we are very proud of the fact that i called, i said, im sorry, we have to have them go in. They went in, and it was like a knife cutting butter, right through. Ill never forget. You saw the scene, on that road wherever it may be in the city, minneapolis, they were lined up. They just walked straight. And, yes, there was some tear gas and probably some other things. And the by the end of that evening, and it was a short evening, everything was fine, and you didnt hear too much about that location having problems anymore. They went to other locations. And the same thing would happen. As an example, seattle would be so easy to solve. Would be so easy to solve. We have a governor here of a great state, its called texas. He would solve it very well. [applause] as would, as would other of your political leaders including you, lieutenant governor. They would solve it very easily are. A lot of its common sense. I dont even think its courage. Its probably more courageous the other way. Its very unsafe. So i just want to tell you that were working on a lot of different elements having to do with law, order, safety, comfort, control. But we want safety. We want compassion. We want everything. What happened two weekes ago was a disgrace when you see that. What happened on numerous occasions over the last two weeks. People were killed. A number of people were killed, and it was very, very terrible and very, very unfair. Number of them were police officers. And it was a very unfair situation. We dont want to see that. And with strength you wouldnt even have that. They wouldnt be in a position to do the kind of damage that theyve done. Theyve destroyed people, theyve destroyed businesses, theyve destroyed africanamericanowned Small Businesses that, hopefully, theyre going to come back. Were providing funding for a lot of Small Businesses and hopefully well be able to get everybody in line and get funding to be able to open up their stores and their Small Businesses again. But were working to finalize an executive order that will encourage Police Departments nationwide e to meet the most current professional standards of force. And that means force but force with compassion. But if youre going to have to really do a job, if somebodys really bad connell President Trump speaking in dallas at this hour. As we said before he began, didnt take up any specific legislative priorities in terms of what he might support on police reform, but maybe some hints. At the beginning of his remarking, he talked about investing more in training, more in what he described as community engagement. Well watch for more on that in the coming days, and we will see you tomorrow with another edition of after the bell. The worst day for the stock market since the middle of march, the dow falling more than 1800 points. Today, like the other two major arms, the nasdaq was down by more than 5 . So well see what tomorrow brings, but once again thanks for joining us today as the president continues his remarks in dallas. Its time for lou dobbs tonight which starts right now here on fox business v. A great night. Lou good evening, everybody. A major selloff in the stock market today. Well have details here on the worst day for the market since march. That selloff driven in large measure by rising fears of a second e wave possibly of the chinese virus infection in this country. Well be talking with dr. Marc siegel and former New York Times author Alex Berenson here later. And Chinese Government officials today making it clear that socalled decoupling by the United States will be fought by the chinese. Dr. Michael pillsbury joins us here on this show tonight. Radical democrats