Transcripts For FBC The Claman Countdown 20240712

Dow jones industrials, mark it at down 167 points, low of the session, a loss of 271 so we are off that. We have the s p down 12, the nasdaq lower by 11. So what we need to do is talk about right before we go there, the discussion which will intersect with the worrisome news that some states, including florida, texas, are now seeing sudden increases in new cases in the wake of reopening their economies. Lets go straight to the white house where blake burman is standing by. You are waiting with us for this event. What is expected to be the real focus here . Reporter well, we have seen this over the last several weeks here at the white house, liz, as governors, republican and democrat, have come over here to the white house to sit down with President Trump, talk about the reopening in their states and their future plans to reopen, going on down the line. Im told from a white house official this event coming up here is along those lines. As President Trump will be sitting down with the governor of nebraska, the governor of oklahoma, both republican governors. Im also told in the room as well will be representatives from minorityowned Small Businesses and the topic of conversation will be things like recovery, reopening, the ppp program as well as other economic items that they are expected to talk about. But you cant help but sort of put two and two together here, as President Trump is also set to host his First Political Campaign Rally in about 48 hours time in tulsa, oklahoma. Hes going to have the governor of oklahoma here at the white house as well so you can expect, if there are questions being put to the president , questions about the safety of those in oklahoma, the thousands who will be attending that rally. It is questions that have been put to the white house now for days. Here was the White House Press secretary Kayleigh Mcenany earlier this morning. Well, this is permitted under phase three i understand it but nobody else has done it before. Are you worried about that . We are leading on that. There will be hand sanitizer, there will be masks handed out. There will be precautions taken. We believe this is a safe opportunity to congregate, to really celebrate the great things that President Trump does each and every day in this administration. Reporter this event called for 3 00. We should hear from President Trump at some point later this hour. Liz . Liz yeah. And we will take it. Got a business angle. We are all over it. Thank you very much, blake, with one eye on the white house, weve got the other on todays pop stocks. These are big movers. Double whammy for u. S. Steel, not in a good way. For starters, the Company Forecast a wider than expected Second Quarter loss, then announced a nearly half a billion dollar secondary stock price offering that was priced at about 8. 50 a share. This is being done in a bid to boost its balance sheet. So why is u. S. Steel down 12. 33 . Well, heres the price. 8. 23. Now, this slope was originally previously announced but investors are now rejecting the idea of new shares flooding the market. Investors are emptying out krogers stock from their shopping carts at this hour, even as the company beat on fiscal First Quarter earnings. The stock is lower after the Supermarket Chain neglected to update its full year outlook. Let me just quickly get you a quote on kroger. Its down 5. 6 . All right. Racheting up price targets, we are starting with tesla. Jeffries upping it to 1200 a share. The big high on the street there. Tesla earlier today popped up through that 1,000 ceiling. Its at 996 right now. They like the tesla ev car lineup. The model 3, model y and cybertruck, basically the brokerage is saying the company is in the sweet spot right now for those kinds of offerings and what people want. Investors are shopping for shopify. Rbc predicting that shop, which enables companies to set up Digital Sales sites, will crack the 1,000 mark. The new target, not really there yet, we are at 857. 11. Rbc says the market is still undervaluing shopify even though the stock has surged 160 over the past three months. Right now, shop is gaining 4. 9 . From shopify to spotify, which not only signed a podcast deal with reality megastar Kim Kardashianwest, but it also announced a deal with Warner Brothers and Dc Entertainment to feature podcasts starring batman, wonder woman and superman. I knew superman was a real person. I knew it. Well, listen, i think its Kim Kardashian thats really jumping here. Weve got spotify up 12. 8 . Thats a record high. 225. 47. To the markets overall. The bulls and the bears have been battling it out all day. The bears with the edge right now as investors balance fears of a second wave of coronavirus with the reopening of the economy and the optimism that really comes with that. But the major averages, we should point out, are Still Holding on to very impressive gains from their bear market lows back on march 23rd. Look at the dow. Its still up 39 . The s p still up 38 . Again, this is from the low, march 23rd. The nasdaq is a rock star here. Its up 44 . A long time highly respected wall street voice, though, looking at those great numbers, but also now floating what he sees as six risks he believes you need to be prepared for if you own stock. Before we tell you who he is, we will unveil his six fears that he outlines. Top of the list, a second wave of the coronavirus. We have been talking about that a lot. Close second, disappointment on the vaccines that are being developed. Number three, Congress Fails to pass further stimulus. We know they cant get it together. Theres gridlock there. Next, a messy election that could end up being contested. Number five, rising taxes and Interest Rates, because somebodys got to pay for all this spending. Finally, incredibly low Interest Rates trigger a financial crisis. All right. Who said it . Jpmorgan Asset Management chief global strategist, david kelly, who is our guest right now. David, these are pretty heady ideas here. Are you saying there is a better than 50 chance that one or all of these could come to pass in the second half of the year . I think each of them individually is perhaps, you know, not the most likely outcome but i see this huge rally in the market and i just think people need to recognize theres a lot of uncertainty out there. I think the people who are banking on a vshaped recovery in the economy are kind of missing the point. What we have had is kind of like if you fall off a cliff on to a trampoline. The bounce is impressive but its the fall that was important. Thats whats going on with this reopening. Those companies that could reopen in a social distancing framework have done so but the rest of the rebound is going to have to wait await a vaccine. There are a lot of risks out there. I could go into all of them but its important to keep these in mind. Theres a little too much optimism built in that rebound we have seen in the market since the lows in march. Liz let me point out to our viewers the dow is down 178 points. Little bit of optimism coming out of the markets, seeping out. Let me pull out some that really jumped out. Number one, the potential second wave. I bring this up because we started to hear of a lot of states that have been gutsy in reopening and said you know what, we can do it, we cant stay closed forever. Thats certainly a rational perspective. Now they are getting bitten by it. How would this affect the markets . Because this isnt a second wave. Its part of the first wave. Well, thats right. What we have seen is a lot of success in places like new york and new jersey and massachusetts in pushing down those case numbers. We are seeing the opposite, really dramatic rises if you look at the Johns Hopkins website in florida, california and texas and some other states. Its not just reopening by the government. Governments want to reopen. I think its important to give Small Businesses the chance to reopen. But the public needs to be disciplined. People need to wear masks, they need to respect social distancing because if they dont do that, thats really whats so dangerous, because if the virus gets going again, whether you reopen the states or not, people arent going to crowd into restaurants or crowd on to planes. People will be scared of getting it and giving it to their older relatives. A second wave, whether you reopen or not, can really throw the economy. Thats why weve got to be very careful, even as we reopen, to make sure we are not actually spreading the virus. Liz david, all we are hearing about is we may see a payroll tax cut, that the president would like to see this, larry kudlow would also like to see it. I know a lot of viewers that were watching right now feel that way, too. Im looking at the debt clock right now. The federal budget deficit is now at 2. 9 trillion. Your point about the fact that theres so much stimulus spending that it will eventually break the back, people dont see it. How would it come to pass . Well, i am worried that im not so much worried about whats gone on this year because we had a pandemic and needed to deal with that and that meant a lot of spending. I am worried that we increase the deficit in 2017, 2018, had a big tax cut, i like a Corporate Tax cut but we didnt pay for it. If we come out of this, still decide we arent going to pay for it and the Federal Reserve will print money to buy the bonds, eventually the bonds will get paid, you will get paid in the bonds the Federal Reserve will buy them, the fed can print money, but at some stage it will threaten the dollar itself. Its really important to have more discipline about fiscal and Monetary Policy when we get on the other side of this and thats what i think is lacking in washington right now. Liz well, before we go, i do need your thought on the fed. We do know the fed is promising, forever and a day, they will do whatever it takes. What worries you most about that . What worries me most is about their independence. It is crucially important the Federal Reserve feels like its allowed to make the correct decisions on behalf of the american people. I dont want them to lose that independence. I dont want the fed board to get stacked with people who are beholden to one Political Party or another. Its very important they can control the growth of the money supply. Ultimately it comes down to trust. You have to trust u. S. Money. You have to trust u. S. Bonds. That requires an honest broker at the Federal Reserve. Liz david kelly, thank you very much. We are absolutely thrilled to have you, although six, six risks on the near landscape here. We are watching it all. We will put davids, parts of his note up there. I know you are an optimist, too. I listen when you come out with stuff like this. Thank you so much. Speaking of the fed, tomorrow weve got a fox business exclusive at the top of this hour, 3 00 p. M. Eastern, with Federal Reserve vice chairman richard clarida. He is joining me for his first interview since last weeks fed meeting and it will be his first oncamera interview because you know, we are all dealing with this skype at home situation. But we are going to tackle Corporate Bond buying, main Street Lending and what happens when Unemployment Benefits and government surplus checks run dry. Thats tomorrow right here on 3 00 p. M. Eastern on the claman countdown. Do not miss it. Hes an important voice. Closing bell ringing in 48 minutes. Yeah, we got red on the screen here. The s p is down 12. Thats under half a percent, though. Coming up, a broadband desert. Already plaguing most of Rural America and boy, when the pandemic struck, it really brought into sharp focus the crisis between the internet haves and havenots. Coming up, the fervent voice pushing to link america via fiberoptic cable. Tom ryman on the governments next move to bring broadband to all because if you wait around for the companies that do it, not going to happen. And we are still awaiting the president , who is going to be discussing the reopening of Small Businesses across america. The claman countdown is coming right back. 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. In this world where people are staying at home, many of lifes moments are being put on hold. At carvana, we understand that for some getting a car just cant wait. Thats why the new way to buy and sell a car is also the safer way. At carvana, you can do it all 100 online from home with a touchless delivery and pickup process to keep you safe. And for even Greater Peace of mind, all carvana cars come with a 7day return policy. So if you need to keep moving, its our goal to keep you safe. Check out carvana, the safer way to buy a car. Sawithout evenon yoleaving 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. Liz all right. What were doing is we have one eye right there on the white house and we are going to wait until we see the start of the president s event. Hes talking about reopening but specifically through the prism of Small Business owners. I know many of you are Small Business owners so youve got to stay tuned for that. Right now, listen, to run any business, you have to have the benefit of broadband. Certainly if you are going to work from home you need broadband and cable but boy, did the coronavirus reveal an incredibly desperate picture for those who dont have it. During the governmentimposed lockdowns, 30 million kids and workers in Rural Communities simply could not work from home, couldnt join zoom classrooms, couldnt see doctors via telemedicine. Why . Because it just isnt economically attractive for Broadband Companies to build out to children and employees who live in these thinly populated areas. Tom ryman has been working for years to change this and to bring broadband to every town in america, not just the big cities. Hes the founder and president of the Broadband Group and joining us now. Tom, what are you dying to hear from the president , because there are all kinds of rustlings and sounds that the government is about to at least try and tackle this issue, because it was completely revealed during the lockdowns that too many kids and people dont have it. You are totally correct. Broadband inequity does exist and has to be solved. What do we want to hear . The concept of stimulus funding for advancing broadband in second tier and rural markets is critical. What we dont want to see, however, is simply dropping the money into traditional sources and traditional funds. We have to think creatively. We have to ensure that when those monies are allocated, they are allocated for new resources, new networks, advancing bandwidth and fundamentally shifting the economics and making certain that when we work at home, when we need to be careful with health care at home, those facilities exist. We are waiting to hear that. It appears that we might be but lets make sure that its allocated appropriately. Liz well, you know, weve got some of the stocks of companies you might say are the old guard who havent at all taken a step to kind of build out for the broadband communities that dont have it, and are dying to get it. But you know, we have heard rumblings about an infrastructure plan, a 1 trillion infrastructure plan, and yeah, some see infrastructure as bridges and highways but if you are looking through the prism of the nations future, the digital future, its 5g broadband buildout, is it not . How much money would that take . You live and breathe this stuff. What are we talking about here . Absolutely. Its hundreds of billions of dollars but bridges and highways is broadband. What we have to do is fundamentally understanding the road to Economic Resources and Economic Growth is advancing broadband. You made a very good point. The economics of wall Street Investments do not support advancing investments in small and Rural Communities. You know what were doing in huntsville, alabama, springfield, missouri, we are bringing new ideas to market. We are enabling utilities, where the utility grid is fundamentally changing as well and layering on additional bandwidth for broadband growth and expansion. Thats the future. Not simply making sure theres more money in the market, but planning efficiently for the proper use of that money. Liz and i would say huntsville isnt even that small of a town. I mean, its pretty dense there. One of the things that i want to show our viewers is a map, a map of broadband and wireless buildout. It will be stunning to some people who live where you see the real, you know, the real parts where thats its very concentrated on the west and east coast. Look at arizona, parts of northern california, upstate new york. Its just a desert. South dakota barely has anything, nevada, kentucky, mississippi, as we mentioned alabama. Huge swaths of northern michigan. You know, the obama era, 800 billion stimulus earmarked about 7 billion in funding for Broadband Internet in rural areas. That doesnt sound like a lot to me but my question now becomes what does the Trump Administration do to actually make a dent in this map . They allocate money to the areas that need it and we will then, the cities and communities that we work with and everyone works with will take use of those funds and allocate them differently than we have previously. You are totally correct, dont funnel money into existing Internet Service provider funds, provide it into communities where we can uniquely build new models and new economic solutions. As i said, what we are doing in communities that were working with, we are adding additional bandwidth from Additional Services and shifting the rural economic solution into something that has not occurred before. Liz got you. Tom ryman, the Broadband Group, good luck to you. We are following this story, too, because thats what this, if theres a Silver Lining certainly to what happened with the pandemic, its that it revealed just this yawning gap in wireless for much of us. Thank you so much. Closing bell 38 minutes away. Weve got tmobile and dish leading the way on the nasdaq and the s p intraday, getting a literal boost from boost. Charlie gasparino, way ahead of the game on this latest megadeal involving boost and dish. How it all went down and whats next for all the telecom titans. Charlie breaks it next on the claman countdown. vo since our beginning, our business has been people. And their financial wellbeing. Its evident in good times, with decisions focused on the longterm. And crucial when circumstances become difficult. That continued emphasis on people our advisors, associates, clients and communities gives us purpose, strength and a way forward. Today. And always. Now every bath fitter bathbath fis 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. Liz dish networks promise to the department of justice to take boost mobile off tmobiles hands in order to grease the skids for the merger now set to officially become a reality on july 1st. But that does not mean the drama is over. Charlie, there has been so much drama here, how does this deal finally close . Whats next for all of it . Charlie we were on top of the drama. We were first to report there was drama, that Charlie Ergen was trying to extract better terms out of something in this complicated tmobile sprint deal which he became a major factor because hes buying some spectrum from tmobile or hes going to use some of his spectrum to start another wireless network, hes buying boost from tmobile to create that network, and then at the last minute, he started to renegotiate hard. From what we understand, sources are telling us the Justice Department put the pedal to the metal on him. We dont ergen is not commenting on this. Doj isnt commenting on this. But Senior Telecom sources are telling us doj went in there and said mr. Ergen, you have signed an agreement, we want you to buy boost, we want you to end this now. Lot of speculation that he was looking to lease spectrum to tmobile and was asking for a very high price for that. We understand that its unclear if that is part of this deal. But it appears, and our sources are saying that the doj intervened and got this deal through. There is some speculation doj even threatened to sue Charlie Ergen. Again, we have run this by all parties. They are not denying that as well. The doj run by Makim Delrahim looks like thats how the deal got through. He intervened and we have been reporting that for the last couple days and it becomes official july 1. Charlie ergen, amid all this, puts out a very terse filing with the s. E. C. Last night confirming that this deal is going to happen, hes going to buy boost. We will have to see if he does sell spectrum to tmobile, what that price was. Maybe there was some behind the scenes deal. We dont know. This is still going on. I want to switch gears a minute before i toss it back to you and say that either today or tomorrow, the Major League Players are expected to come back to the Major League Baseball, to the owners with another proposal. Again, this is drama, kind of like the tmobile sprint deal, its never ending. Time is running out on the season. The commissioner rob manfred is proposing a 60game season. Players want more games. I dont know if the owners will go for more games. That means more money and they think they say based on what the players want, full salaries pro rated, they are tapped out. But thats what we are hearing now. Players expected to come back with another proposal either today or tomorrow, then maybe hopefully at some point soon, we get some baseball. Again, the season, if all goes according to plan, this is a very loose plan, it looks like the season could start in july sometime. Back to you. Oh, by the way, liz, as we were speaking, the players just came out liz come on. Again . Charlie okay. Listen to this. Realtime, they just came out with this. Weve delivered to Major League Baseball today a counter proposal based on a 70game regular season which among other issues includes extended playoffs for both 2020 and 2021. We believe this offer represents basis for an agreement for resumption of play. They are ten games apart, i should point out, owners want 60, players want 70. Maybe they will meet in the middle. I heard the owners are hardpressed liz 65. Charlie 55 . Liz im calling it 65. As i call it at 65 games, im here to tell everybody the Cleveland Indians are one step closer to winning the world series. Charles just think, you might see a cleveland tv game. Just think about that. That is amazing. Liz i know. Incredible. Charlie, thank you very much. Charlie gasparino. Thats two days in a row that the word has broken, you know what, theyre watching you, charlie. How much you want to bet . Charlie i bet they are. They tell me they are. Liz yeah. Charlie they tell me they are. Liz okay. Thanks. Just what he needed, another ego boost. Okay. Closing bell, we are 29 minutes away. Up next, another round of jobless claims showing the unemployment lines are still getting longer. But weve got the company that is helping fortune 500 companies but also everybody else out there sharpen or learn brand new skills, 7,000 different classes, all kinds of things, whether you are out of work or still lucky enough to have a job. The pluralsight ceo next on the claman countdown. Stay with us. Liz breaking news. Lets take you right to the white house where the president has just begun the roundtable talking about Small Businesses reopening. He is there with the governors of both nebraska and oklahoma. Lets listen in. It was for a different reason. It had to do with Small Business. Governor stitt of oklahoma. We will be in oklahoma and its a crowd like i guess nobodys seen before. Tremendous, tremendous request for tickets, like i think probably has never happened politically before, and one of the reasonins we chose your sta, as you know, you have done so well with the covid. You have handled it incredibly well. We appreciate you both have, actually. You both have. So congratulations. Along with several extraordinary Small Business owners from their state, also with us are secretary of the Treasury Steven Mnuchin and Small Business administrator joe vita. Thank you, joe. Small business is no longer Small Business. Its big business. Its one of the biggest businesses. As a result of the virus, 22 of Small Businesses were forced to close earlier this year, including 41 of blackowned businesses, but under my administrations strategy to vanquish the virus and restart our economy, Small Businesses across the nation are now safely reopening all over the nation, theyre reopening at levels like nobodys seen before. We are sheltering individuals at the highest risk. If you look at really high risk individuals, we are really watching them and we are taking care of them and we know what the high risk means but largely it means older people, especially older people, Senior Citizens that have a tremendo tremendous they have a problem, they have a heart problem, they have diabetes, if they have any kind of a problem, much more susceptible. So we are all watching that very closely. We have learned a lot over the last number of months. In the past four months, we have conducted over 25 million coronavirus tests and distributed over 1. 5 billion pieces of personal protective equipment. America is better supplied and more prepared to reenter than i would say just about any other place. You look at what weve done with ventilators, we are now making thousands a week of ventilators. Very big expensive complex equipment and were sending them to other countries and were all stocked up, our country is totally stocked up. Everybody has their ventilators that maximum they can use. But we are sending them to other countries. The nice part and i say it a lot because i think its pretty amazing, when we came here, you had very few ventilators in this country and by the time we started, not one person that needed a ventilator didnt get it. So everybody that needed a ventilator got a ventilator. There wasnt one instance anywhere in our country and we stocked up their shelves. The cupboard was empty and we filled up the cupboards. In the past four months, tremendous things have happened but i think probably the biggest thing of all is the knowledge that weve gained of this disease, of this plague, of this virus, call it what you want. To help Small Businesses survive the shutdown, i approved over 670 billion for the Paycheck Protection Program and steve, thats been a tremendous success. Were talking with democrats about doing something further now but the numbers, the way theyre coming in, its been really incredible so were able to spot it but were here to help businesses and to help people. To date, weve processed over 4. 6 million Small Business loans, saving and supporting an estimated 50 million american jobs. Thats incredible. The Small Business owners that we have with us this afternoon all received the ppp loans and now their businesses are on the road to recovery and theyre doing really well. We have a lot of businesses that are doing really well. Were talking about a v shape, almost like an i shape, i is straight up and down. I talked about v shape and a lot of people disagreed with me. Not everybody, but a lot of very smart wall streeters were disagreeing. Now theyre much coming pretty much coming on board saying it looks like it could be a v. So v is the thing we were shooting for. It looks like thats what weve got. I want to thank our people and my representatives for their decisive actions and last month, we added a record 2. 5 million jobs. Its the highest in the history of our country in one month. Its the highest number of jobs, 2. 5 million. The dow rose above 26,000 points and we saw the largest surge in retail sales ever recorded. Next year is shaping up to be one of the greatest years in the history of our country from an economic standpoint. I truly believe that. I think were going to have a great third quarter. Were going to have a great fourth quarter. And next years going to be a phenomenal year. I believe that nasdaq actually set the record during a pandemic, nasdaq just set they broke the record, larry, is that a correct statement . So it was higher than even before. Thats an amazing an amazing achievement. After i was elected president , our country added more than seven million jobs, 12,000 factories and trillions of dollars of wealth. We created nearly 9,000 opportunity zones and africanamerican, Asian American and hispanic american unemployment and poverty reached all time lows. We had the greatest employment numbers we have ever had and then we had to turn it off. We saved millions of people by doing it. We did the right thing. Now we are turning it back on and the numbers are going up much, much faster than anybody would have thought. Its a great honor to see it. These two governors, by the way, have done a fantastic job. Two very extraordinary men, nebraska and oklahoma. We built the strongest economy the world has ever seen before the virus and together, we are doing it again. So we did it before the virus, we had to turn it off, and now we are doing it again and thats whats happening. So now i would like to maybe we will start off with governor ricketts, then get to my friend over here, i will be seeing so much of you in the next couple days, i will take you second, okay . Thank you very much. Please. Liz President Trump just during his speech knocked about 100 points off the losses for the Dow Jones Industrials. The dow is now down 81. Nasdaq turned positive while he was speaking and specifically, you know, its hard to know what the markets are glomming on to or really kind of holding on to but there was one comment he made where he said we were working or aiming for a vshaped recovery, that would be a rather dramatic quick recovery, and he said it almost looks like an i, straight up. Right now, we do have a little bit of red on the screen for the s p, barely, though, and as i did mention, the nasdaq has punched into positive territory. 50 million jobs, the president says, are saved by the Paycheck Protection Program. Right now, you can see that the governor of nebraska, governor ricketts, is speaking at the moment. We will also be watching for the governor of oklahoma. But the president really focusing on the reopening and how much of a major impact it could be on the jobs picture. But one thing that perhaps a lot of people thought about while they were stuck home under lockdown was that they might want to get into a different area of business where their skills would be better needed or if they didnt have those skills, they should get them. Weve got this news this morning. For the 13th straight week, new unemployment claims topped one million. One million after another of people applying. Last week it was 1. 5 million who applied for firsttime jobless claims. That according to the labor department. What can you glean from that . The layoffs are still happening. Sights like these are heartbreaking but are becoming more common. This is the unemployment line in kentucky yesterday. It is seemingly neverending, stretched for more than a mile and it just has so many people desperate to at least get in front of a human to find out where are my Unemployment Benefits. But as more are looking toward perhaps the reopening and new jobs coming back, they are trying to become more attractive to potential employers. Could pluralsight be the knight in shining armor for them . Pluralsight works not only with Top Companies in the world, among them amazon, google, visa, apple, blackrock, so many more, costco, sony, ups, but they teach and train employees or wouldbe employees, the latest skills in software development, coding, cybersecurity, ai and more. You can actually take their courses right from your living room. We thought lets get the ceo in, its a publicly traded company, by the way, ceo and cofounder Aaron Skonnard joins us now. Thank you very much for being here. We want to let our viewers know, in april you made your 7,000 courses open for free to people. They are now once again at a charge, correct . I just want to make that clear. Thanks for having me. In april, we saw a massive opportunity to get in front of this Unemployment Crisis that we were facing and open up the entire platform for free for the entire month and had over a million new people show up from all over the world looking to gain new tech skills that could help pave a path to a new future for them and their families. We saw engagement increase significantly and just a lot of traction around the most popular technologies today that are really changing how we as human beings are operating, how we live, how we work, how we communicate. Its really encouraging to see that play out. Liz well, i mean, i was looking at some of the courses. Everything from Cloud Computing to i. T. To what jumped out at me, mobile devices. Again, Artificial Intelligence is sort of the next big thing. Its not next, its already here. Give me a sense, if you could, of what it would cost me if now i want to jump in and i want to learn how to be part of cybersecurity. How much would that cost me . Here in the u. S. , it only costs 29 to subscribe to our entire library of over 7,000 courses for a month. Its a low cost subscription relative to what people used to pay for this kind of highly specialized classroom training. When i first started the company with my cofounders, over 15 years ago, we were charging 2,000 to 3,000 for one week of training, for the same topics that we now include in the over 7,000 trainings we offer in the pluralsight platform. Our mission has been to democratize access to tech skills to make them globally available, especially right now, here in kourn tour country with financial crisis and the unemployment rates we are seeing, we want to make pluralsight as accessible as possible. In addition to our commercial price point, we also work with nonprofit partners to make pluralsight even more accessible to those who cant afford the 29 price point. Liz well, we like when the price comes down, thats for sure. Youve got Renowned Experts and pros curating the content there. Be very interested to know, i know you can tell these things, what were the most popular courses . What was the most popular course . The most popular area was python, the Building Block of a. I. Today. People are talking about a. I. And moving towards a. I. , python is one of the languages that sits behind what you would do to produce a. I. In your world, to build data science and deeper Machine Learning applications. The second most popular was java script, which is really the language of the web and modern web applications. The third most popular was a technology called angular which is used to make your web applications more accessible and more adaptive to smaller devices. Then other things like data science, Machine Learning, Cloud Computing, those are also very high on the popularity list. Liz yeah. This is how old i am. I remember learning pascal. Listen, what a great company, pluralsight. Everybody check it out if you want to learn new skills. We are coming right back. Pluralsight up 56 quarter to date. vo at audi, we design cars that exhilarate with versatility, 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. 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. Liz i want to get serious here. The coronavirus lockdowns have forced us all to rethink what is truly essential in life, and it appears Many Americans have agreed its doughnuts. Doughnuts. These doughnut bouquets from 1800flowers are a massive pandemic hit. We kind of knew they would be, because in february, 1800flowers ceo was on the claman countdown telling us that doughnut bouquets were selling out like crazy ahead of valentines day. Forget the roses. Come on. Now 1800flowers says its been such a success they are raising 2020 fiscal guidance after beating earnings and revenue projections by megamargins crediting strong ecommerce demand for food. Yes, the gourmet food and the gift baskets and food bouquets. Throughout the panpandemic, customers have turned to 1800flowers to connect with important people albeit from a distance. The stock down 3. 33 right now but quarter to date, its up 66 . Big move. They have been around for a long time. Beijing taking more measures to contain a new outbreak of the coronavirus in the region. All indoor public venues including now clubhouses and party rooms in apartment complexes have been ordered to shut down. Restaurants, hotels and offices in higher risk areas are also being closed and bus service to and from beijing and other provinces will be suspended starting tomorrow. This as human trials could soon reveal the contenders and pretenders in the hunt for a vaccine. To cheryl casone, who has been tracking all the action on that chase. Cheryl . Cheryl yeah, theres a lot of these companies. First i want to look at modernas stock right now. We have just learned they plan to launch trials of its covid19 vaccine next month. Take a look at the stock, up another 2. 5 for the day. Thats the intraday. The ceo says it could possibly be in distribution by 2021. That means the company would have to get approval either later this year or definitely first thing in the new year. Executives are hopeful they will have solid efficacy data by thanksgiving at the earliest. Its not impossible to have this conversation now. But lets turn to Johnson Johnson. The European Commission is in advance talks with the pharma giant to either reserve or make an upfront purchase of its covid19 vaccine which is also under development, we talked about it. Stock down almost 1 right now. All this is according to reuters right now. If that happens, it would be the first arranged deal by the eu since it put together a 2 billion euro, excuse me, emergency fund. In fact, that money could be used to strike deals with up to six vaccine producers. Sources telling reuters several discussions between the eu and that company have already happened. When asked, Johnson Johnson executives say they are in talks with multiple governments and global organizations. The eu oversees a population of 450 million people. This wouldnt be unprecedented, however. S astrazeneca signed a similar deal with the u. S. Last month. Astrazeneca down about 2. 5 right now. As i send it back to you, i will just say never underestimate the power of the doughnut. Liz exactly. Or chocolate. If you can mix them together, thats just a winner. Cheryl, thank you. Cheryl casone. Weve got the closing bell ringing in just under seven minutes. Yes, we have pared a lot of the losses here. The dow is down 74. Low of the session, a loss of 271. We are coming right back with our countdown closer. 300 miles an hour, thats where i feel normal. Having an annuity tells me my retirement is protected. Learn more at protectedincome. Org. Tums ver bell rings la stick when heartburn hits fight back fast. With tums chewy bites. Beat heartburn fast tums chewy bites at mercedesbenz, nothing service will do. Class thats why were expanding your range of choices. Many dealers now offer optional pickup delivery and athome maintenance, as well as Online Shopping with Home Delivery and special finance arrangements. So, whether you visit your local dealer or prefer the comfort of home you can count on the very highest level of service. Get 0 apr financing up to 36 months on most models, and 90day firstpayment deferral on any model. Liz well now look at this. First it was nasdaq turning positive. S p, intraday, just almost there. Down under, not even,. 5 of a percent here. So we could see in the next three minutes the s p pop up into the green once again. You know with all of these ups and downs and ups, you might be wiped out by the dramatic fall and climb back, the dow endured. If you go back, were flat from one year ago. Returning from this years selloffs which individual stocks are set to claim the title of comeback specials . Lets bring in steve dudash, ihg Wealth Management president. Hi, steve. Give us your names. Then i want to dig in a little deeper here. Were looking at energy, exxon, can can qassin knowns like wynn and airlines. When you look at the more controversial ones, look at ones with the biggest question marks that is where you can get your returns. A couple months ago when we on your show, use your cash, use your marginbe aggressive into those areas, it will rebound. Those people got paid off very nice. Now that things have settled down, i think we all agree the market is fairly valued now. You dont need to be using cash and certainly dont need to be using margin but you should look for the controversial picks. Dont chase the consensus. Dont chase zooms and amazons right now because there is a lot of money flowing that way because of the returns. Look what is going to happen moving forward. There is a foreign place. The government pumped trillions of dollars into the economy. Sorry. What i was going to say liz steve, if we show United Airlines over the past quarter, since the coronavirus you can see it has been kind of a wild ride. I mean at one point we were down to 20 a share. I think we have a special, you know what we dont have time to show the special chart. We had may. There it is. It has been a real rocky ride. [closing bell rings] as long as people know to strap in their seatbelts well look at your ideas to see how they play out. Steve dudash, thank you so much. Folks, Dow Jones Industrials down. Tomorrow, richard clarida, vicechair of the Federal Reserve. Connell back to business at the white house. President Trump Holding a round table at this hour with governors and Small Business owners. Theyre focused on the recovery and efforts to reopen. Well watch that as well. We watch it as the dow finishes lower for the second day in a row but well off the lows of the day. Im connell mcshane. Melissa im melissa francis. And this is after the bell. Dow down slightly as the covid19 infections rise in more than a dozen states. The s p fighting for gains. The nasdaq inching closer to record territory, up for the fifth straight day, marking its longest winning streak in more than a month