Transcripts For FBC Mornings With Maria Bartiromo 20240712

This morning. Markets are pointing to higher opening this morning. Possibility of more stimulus of holiday shorten week, this after Third Quarter kicks off with mixed day yesterday, nasdaq with 12th record close of the year. 95 points at 4 00 oclock on wall street yesterday. Meanwhile more stimulus ahead. President trump telling fox business he supports additional money going directly into americans pockets, hes looking to add incentives to get people to back to work. Warning of market crash of former Vice President joe biden gets elected. The house takes action over hon hong kongs actions. All that coming up. Officials finally taking action in seattle meanwhile clearing out the autonomous zone after 3 weeks of occupation, then this, tesla driving to new heights, charging past competition, largest automaker by market value surpassing disney and cocacola. Mornings with maria is live right now. Maria Global Markets this morning look like this, we are looking at gains across the board, growing hope for Coronavirus Vaccine that is pushing markets higher in europe this morning, pfizer and bio biontech, cac quarante is up and encouraging vaccine news drove markets in asia overnight. Take a look at asian markets, you see we have money moving into stocks right there. Best performer was hong kong up almost 3 in hang seng index. Top stories that we are watching this morning. President trump says he supports coronavirus stimulus payments larger than 1,200 as long as its done properly. Democrats have called for another round of 1,200dollar payments, Senate Majority leader Mitch Mcconnell says potential phase 4 would be approved this month. Coronavirus cases spiking across the country with singleday numbers, topping 50,000 for the first time. California, texas, arizona, North Carolina, and georgia all reported their highest infection totals to date yesterday. The surge in cases forcing some states to roll back reopening plans, California Governor Gavin Newsom reversing the states plan to reopen ending indoor operations for businesses including restaurants in 19 counties. Hes also forcing bars to shut down completely. New york city meanwhile also delaying the return of Indoor Dining right now. Mcdonald pausing the reopening of dinein services as well, all the dinein services in the United States for 21 days as coronavirus cases grow. Right now only 1,000 of 14,000 locations have reopened with reduced Seating Capacity. Pandemic cutting into the nfl season, the league to cut games from 4 to 2. The league reportedly considering making fans sign liability waiver as protection against lawsuits related to coronavirus. And police in hong kong moving quickly to crack down on prodemocracy protestors under this controversial new National Security law. Nearly 400 people were arrested overnight on the anniversary of britains handover to china, potential jail time for life. Mike pompeo calling the measure, quote, a front to all nations adding that the United States will end status. The house passed its own bill yesterday. Markets pointing to a gain ahead of the last trading day before the Holiday Weekend this morning it is jobs day in america, the june jobs report due out at 8 30 a. M. Eastern this morning, estimates call for 3 million jobs additionally added to the economy in month of june as the economy rebounds from coronavirus shutdowns. The Unemployment Rate expected to fall to 12. 3 . Joining me right now is federated Hermes Investment officer, also joining the conversation this morning king of College Business Fox News Contributor brian brendberg, former wall street editorial member Stephen Moore and Joanie Courtney, thank you very much for being here. Good morning. Maria let me kick it off with you, new concerns now about the spikes, 50,000 spikes just in a day across the country, whats your take on the impact of the reopenings and the growth in stocks . I think what people are really looking at is deaths and so far you know that has not been nearly as dramatic as increase in infections, so the operating theory that the people who feel safer and probably are are the ones going out and about and getting tested and working through the virus and i think the country wants to do that. Our death rates have been lower than europe h has been very tough but thats what the market is watching i would say in terms of its outlook on the corona impact but its not going to be perfect come through here. You will see rise in infection rates. The protocols and people getting infected turn that down which is what i think most people are focused on, but we will watch that. Thats one reason why its dicey in second half, i think. Maria little dicey in second half because its a good explainer to understand even with these cases you have record valuations on wall street. Nasdaq reached another record high, 22nd alltime high for the year, s p 500 also finished higher yesterday as tesla reached milestone market cap of nearly 210 billion, this makes tesla the most valuable Automotive Company in the world, more valuable than cocacola, disney, exxon mobile, pretty extraordinary valuation, what do you say about valuations out there in the face of all of this . Stephen i put out a piece that we cut back, we are out over our skis. We cut it back quite a bit. The winners are pricey and the losers are pricey and the survivors are dicey. We are now looking around in the survivors and hanging onto our winners but its hard to add to them here, maria, these are the winners in post corona world and they were the winners coming in and thats accelerated and i think the bigtech stocks, my view would be that these things would have to take a rest. They are looking pretty solid in terms of growth, but its hard for me to be screening by on those names particularly with the Political Risk in front of us along with the bumpy recovery out of the corona which is not going to be perfect either, so maria yeah, i want to ask you about the Political Risk with the election in the second half of the year. Let my bring in brian brendberg, go ahead, brian. Brian stephen the story in the past month has been the economy that is vshaped recovery is possible. I still think thats the case. I think stocks are reflecting that but youve got the overhang of governors and mayors talking about rollbacks of reopening. I dont think the American Public wants to go for that but how do you see that playing into valuations here. Are stocks going to believe what americans are showing them or what mayors and governors are threatening right now . Stephen i guess more of the former, brian. The American People want to get restarted and, you know, governors are going to try to do the right thing to kind of slow things down and not make theres no governor in this country thats going to shut down their state. I think that is out of the question. People will be watching on the capital but it is going to be a little bit bumpy. You know, we are exiting v and entering u, its going to be more bumpy from here. We got off lows and housing and industrial are coming on strong but the retail side of this economy, the bricks and mortar, restaurants, these are going to go slower and theres still pain left in those sectors so i dont think we will get a v straight through the rest of the year here. Maria well, theres certainly uncertainty going into the election. Thats one of the key issues for the second half. Stephen, let me ask you this policy has been doing on part of administrations policy, does the market believe thats going to continue, do you think or investors thinking joe biden wins and that would mean Elizabeth Warren as the key Economic Voice whether shes treasury secretary or in the senate, higher taxes and perhaps more regulation, do markets trade down on that . Stephen well, i dont think its good news for markets. I think president should be calling tax and regulated joe instead of sleepy joe. There are offsetting positives to biden presidency, the country could use less tweets and little more calm out of the oval office. They are going to get that with biden. Maria yeah. Stephen the fed will try to offset whatever tax and regulate policies that come through but we are talking i think the market is only starting to look at the fairly radical progressive agenda, you know, of a biden presidency. You know capital gains, tax rates going up, ordinary tax rates on Small Business and highnet worth individuals going up. Thats going to slow growth trajectory. For us we would have to take down our longterm growth trajectory and make stocks a little bit valuable, but there will be i dont think the market is going to crash and the markets has started to assume that biden is going to win. I think they think they will hold the senate. My guess is if biden does win, the senate goes with it. Maria all right, we will keep watching that, obviously. Stephen good to see you, sir. Have a good week Independence Day to you, stephen auth, Hard Rock International chairman james allen is here on atlantic casinos as they open doors today. At 7 00 a. M. Hour we are taking a look at word on wall street. Analysts weighing on second half. Michael burgess here on stimulus and surge in cases. At 8 00 a. M. Georgia senator david perdue talking about coronavirus and its impact. Dont miss that, a lot to come. Maria welcome back, Blockbuster Fund raising in the race for the white house. Joe biden and the Democratic National committee bringing in a record 141 million last month and 282 million and the republicans ranking in 131 million last month and 266 million for the Second Quarter. Joining me right now pollster, james mcloughlin. First, let me get your reaction from fundraising numbers, biden versus trump. The democrats always raise lots of money but the beautiful thing this race isnt going to come down for money. If we remember 4 years ago, Hillary Clinton outraised him, she raised a billion dollars. Maria i forgot that about. She raised over a billion dollars. The great thing about that donald trump doesnt need as much money as the democrats do because nobody knows how to get his message out there better than donald trump. Maria so you look at all the polls, fox news poll, a lot of different polls says that the president is trailing joe biden. Before you comment on that tell me how polling is done today . What is the situation in terms of polling in a covid world and even the last couple of years as polling changed in terms of how you do it . Do you do it on the internet, on phones, how do you poll . You do it all of the above. You do it on the internet, on phones, one of the big problems with National Polls that are out there and i tell folks all of the time, these National Polls are really meaningless when it comes to president ial election. We saw that four years ago. For instance, somebody like the New York Times about a week before election day they were telling us there was 92 chance that Hillary Clinton was going to become president , one of the other big problems you have with the National Polls is about a third of the people theyre talking to and what i call the big 8 democratic states like illinois, new york, california, they dont matter in the president ial election. What matters is those 17 battleground states right now, and if we were back then, you had 4 years ago, folks were telling us the blue wall, pennsylvania, wisconsin, michigan, there was no way that President Trump could win in those states, well, we all know what happened on election day. He won all 3 states, recent poll came in wisconsin that President Trump was ahead and another poll in pennsylvania where the president is tied, so thats what you want to see. You want to see likely voters and you want to see folks, you want to see polls that are in the battleground states. Maria so do you think that the polls that are showing donald trump trailing joe biden are wrong then, are they not capturing the true vote . I dont think theres any doubt theyre not capturing the true vote, maria. And, again, one of the problems they are doing registered voters, they are not doing likely voters but whats really interesting too is on the issue thats probably going to matter most come election day, rebuilding the economy, getting people back to work, you saw that in fox news polls which werent great for President Trump but he still had the advantage on the economy and jobs. Maria i want to talk about policy. Im going to bring in steve moore because President Trump is going after bidens tax plan. Listen to this. If he got elected, thats an overhang over the market because the market would crash, it would absolutely crash. Market would go down by a tremendous amounts. Hed raised taxes, hed raised regulations. Maria so joe biden has said that and certainly if Elizabeth Warren is his treasury secretary, we are talking about a wealth tax, taxes will go up under biden administration, all taxes and then theres the Regulatory Environment as well. What impact is that going to have on the economy and i want to bring in steve moore to talk about trumps ideas, real quick. Yeah, real quick. Whats the first thing that joe biden said he was going to do when he became president . Hes going the raise taxes and the voters will tell you, raising taxes hurts the economy, cost us jobs. I guess its kind of like the larry kudlow messaging, larry kudlow, Stephen Moore messaging, when you raise taxes, voters know its bad for them. Maria real quick, steve moore, what is the president going to do in second term . Well, look more of the same, more deregulation, more trade deals and the problem i think, jim, look, trump has to have a huge lead, he should be beating biden by 20 points in terms of who can best handle the economy and i think ultimately dont you, jim, when people go to polls in november that that might be the most important question voters ask themselves, who do you trust on the economy. No doubt about it and the race has been defined yet and once the race is defined and the differences on the issues when it comes to taxes and regulations, donald trump will have a clear advantage. Maria all right, we will keep watching, jim, thank you very much for being here. Coming up more stimulus in the works. President trump telling fox business about the possible cash coming your way and place your bets, Atlantic City casinos are reopening today, how they plan to keep gamblerrers and workers safe right after this, coming up. Can my side be firm . And my side super soft . 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And this summer, xfinity is creating a Virtual Summer camp for kids at home all on xfinity x1. Were committed to helping all families stay connected. Learn more at xfinity. Com education. Maria welcome back, next round of stimulus, President Trump indicate to go fox business that the next wave of relief could deliver more than the additional 1,200 floated by democrats. Watch. Another round of direct payments for individuals, do you support that at this time . I do. I support it but it has to be done properly and i support larger numbers than the democrats but its got to be done properly. We had something where they wanted it gave you disincentive to work last time. Money still going to people and helping people so i was all for that but we want to create a great incentive so we are working on that and im sure we will all come together. Maria republicans are criticizing the unemployment expansion saying that it encourages people to stay home rather than go back to work. Senate Majority Leader Mitch Mcconnell vowing tuesday to abandon the boost as part of next round of relief. Steve moore, what do you expect from the next round of stimulus . What should it look like . I know theres a major issue with people working from home, look, im making more money as i stay at home, why would i want to be back . Steve this is the key issue and i was pleased to hear the interview with blake and the president , he nailed it. Whatever we do in phase 4, we cannot keep these incentives for people to stay out of the labor force, maria, the Congressional Budget Office estimates that over 4 out of 5 americans would make more money not working under the pelosi plan than working. That would be catastrophic. In fact, i have a piece in the wall street journal tomorrow with one to have best labor economists in the country, we estimate that if you allowed people to continue to get these super high unEmployment Benefits, maria, that would reduce employment this year by 10 Million People, so if trump were to allow that to happen theres no way he could get reelected because we couldnt have an expansion. Republicans have to draw the line and say we are not going to have a policy that pays people not to work than to work. I really believe my sources on capitol hill and the white house saying thats very much on the table. Maria yeah, the president told me that as well, that thats what he would like to see happen, payroll tax holiday. Youre watching mornings with maria live on fox business yeah yyeah yeah hey, hey yeah some Companies Still have hr stuck between employeesentering data. A. Changing data. More and more sensitive, personal data. And it doesnt just drag hr down. It drags the entire business down with inefficiency, errors and waste. Its ridiculous. So ridiculous. With paycom, employees enter and manage their own data in a single, easy to use software. Visit paycom. Com, and schedule your demo today. It would be for me to discover all of these things that i found through ancestry. I discovered my great aunt ruth signed up as a nursing cadet for world war ii. You see this scannedin, handwritten document. The most striking detail is her age. She was only 17. Knowing that she saw this thing happening and was brave enough to get involved and do something that was eye opening. Find an honor your ancestors who served in world war ii. Their stories live on at ancestry. Maria welcome back, good thursday morning, thank you so much for joining us. Im maria bartiromo, it is jobs day, we are looking for higher opening at broader averages, futures indicating 200point rally for the dow industrials, 1 , nasdaq up 34 points and s p futures higher by 16 as investors await the jobs report this morning. We are also keeping an eye on a record spike in coronavirus cases here in the United States, plus the possibility of additional stimulus, the second half of the year. This after the Third Quarter kicked off yesterday with mixed day at stocks. Take a look at nasdaq another 95 points yesterday at 10,154. Dow was down 177 but s p higher by 15. Global market this is morning are higher, growing hopes for a Coronavirus Vaccine pushing markets in europe higher this morning. Youve got feeser and biontech announcing promising data from vaccine tests. Encouraging vaccine news drove markets in europe overnight. Best performer hang seng and hong kong up about 3 overnight father of the teen shot and killed in seattles chop zone demanding answers from city officials. Cheryl casone now with the details, cheryl. Cheryl thats right, maria, good morning to you. Lorenzo anderson senior is pleading from answers from the city of seattle and police as he prepares to bury his son today. Tell me something, i dont know nothing. All i know that my son, he got killed, 19yearold. Thats my son. You know, and i love him. Cheryl already endso anderson, jr. , was killed in cop rezone last month, anderson senior found out about his sons death from his friends and not even the police. Seattle police have begun to t process of clearing out the zone following the mayors order. Chief carmen bass slammed the city saying enough is enough. As of last night 44 arrests were made at the chop zone. Carrier says passengers must wear a face mask before boarding and anyone who does not comply risk being banned. Delta will give you a mask if you dont have one. America, united and jetblue are some of the major u. S. Carriers that require mask. Delta in premarket, stock up almost 2 . Finally, look at what is trending this morning on foxbusiness. Com, californias gas tax rises bringing total to 55 cents increase. Chickfila is named the top restaurant in Customer Satisfaction for the sixth year in a row by the american Customer Satisfaction index and iowa becomes the first state to permanently legalize cocktails to go. The temporary measure was was additionally enacted to provide businesses amid coronavirus pandemic and those are your headlines, maria, cheers to you, back over to you. Maria right back at you, cheryl. Back to the board walk we go. Atlantic city casinos are rolling the dice, they are reopening today, casinos taking a major hit due to covid19 as you know and joining us right now the chairman of the Hard Rock International and seminole gaming jim allen, good to see you, thank you so much for joining us. Good luck today, what are your thoughts on Atlantic City reopening and how are you protecting customers . Certainly we are excited here at the hard rock bringing 2200 people back to work. Its been a rather challenging time and its the peak of the jersey shore season coming into fourth of july weekend, so number 1 we are excited about opening, post importantly focusing on social distancing, focusing on the safety of our guests and employees. Maria so what are your expectations then, do you think that people will come out and and start doing what they were doing a couple of months ago. How do how are you seeing things differently today . You know, today is much different than 3, 4 days ago. Governor murphy issued new executive order which eliminates Indoor Dining and we had to navigate through lastminute plans. One of the great things about the hard rock is we have over 4 million square feet in this particular complex so we do have a lot of outdoor decks and dining areas so that we can offer these amenities and still having some fun to our guests but certainly has been a challenge when we have 25 capacity. Most importantly its about getting the employees back to work, you know, understanding this is going to be a slow ramp up but taking one step at a time, you know, making sure people are safe. Maria yeah, its a slow rampup, the 25 capacity of gains that you can v tell me how the pandemic has impacted businesses. The loss of foot traffic has to have a hard hit. Would this have longterm effects . You know, i certainly think the Restaurant Division not restaurants in general need to reevaluate what the Business Plan is. We spent over a hundred Million Dollars with protection for Employment Benefits for coronavirus on a global basis. We have more diversity than Many Companies. We are optimistic about the integrated resort, casino on a longterm basis. Category longterm that we will keep a very keen eye on focusing on what that Business Model is in the future. Maria yeah, looks like we are going to see real structural change to certain industries, restaurants maybe one of them. You said 76 countries, can you look out to all of the businesses across world and identify where youve seen growth even during this and and what was the hardest hit in terms of this pandemic with all of your locations . Yeah, 100 . Interesting as each location opens we see different results. We saw results in sacramento where frankly the business was up over 100 at first. Its kind of leveled off now to be the 40, 50 area which obviously is very strong, but if we look at the property, say, in south florida, frankly that ramp up has been very slow and we are actually not even hitting last years numbers. As we look at our hotels even going to china we are certainly starting to see some occupancies, you know, approaching the 60 area but certainly nowhere near prior to covid19, globally, city like london we are not even open yet so it really depends on geographic location and very candidly the publics awareness as to how important corona or covid is in their particular communities. Maria yeah, i think you make a good point about china too because i know for a long time macao was subsidizing everything else. It was subsidizing every other business and you look at places like new jersey, no Indoor Dining, no smoking, no drinking in the casinos, what does that do to the impact of this reopening this morning . Well, you know, listen. I think one thing thats important is working with governor murphy, with the mayor, with the crda to still continue to focus on the larger plan as far as the revotization of Atlantic City but when we think about macao, we had a relationship with lauren so in the city of dreams and we are looking at that particular market, even in the most challenging times, macao is a very profitable gaming market, no doubt, when you look at the publiclytraded companies the business in both macao and singapore is obviously off of what it was in peak but longterm there are still markets, companies in those particular markets will enjoy longterm profitability. When you look at a market like Las Vegas Maria yeah, go ahead. A little different story. Maria yes. In terms of macao, i went to macao and it was just jampacked and the business was talked about across the board within the industry that this was really where the growth was for the casino business in china, in macao. Any upset between u. S. And chinas relationship, do you think thats going to impact the growth that youre counting on in macao . You know, i definitely think it creates caution. As we look at the relationship between china and the United States, i think its caution is the word, certainly the two countries have so much economic reliance on each other but i think we have to respect that when we operate in these particular countries we are a guest there and we need to comply with obviously the rules and regulations and the business that businesses that understand that have proven to be successful and prior to covid were doing extremely well so i think respect is important thing. Maria as always, jim, great to have you on the program, we wish you the best for day one on reopening this morning. Thank you. We will be watching. Coming up expanding access to telemedicine, how one company is reaching underserved communities amid pandemic and protecting yourself against covid19. We will take a closer look at which masks are best later in the program. Dont miss that. Fiction becomes a reality. Sex and the city Jessica Parker with a new show helping people find love. Youre watching mornings with maria live on fox business. Maria welcome back, telehealth exploding due to coronavirus. Ground breaking new technology is making sure all americans can access the Virtual Services from home. Connecting Health Professionals with underserved communities using First Television telehealth program. Joining us founder and ceo of cortext, tom, tom, good to have you this morning, thank you so much for joining us. I love this idea. Congratulations. Walk us through how the Technology Works . Well, its real simple. It is the first of a Kind Technology that enables medical professionals to talk and what Everybody Knows how to use is Television Set. I created this for 92yearold world war ii veteran. I didnt want my dad traveling in his car traveling to go to the hospital, sit down and wait for his appointment rather in todays technology and the world today i wanted him to stay home, safety and comfort of his home. Maria i love that. My 88yearold parents are in the same spot but i feel like i cant explain to them how to use an iphone, so youre 92yearold got it, understood how to work it on the tv . Thats correct. A senior simple design and that was the emphasis when i first went through this, i said, you know, i have to build something that senior simple that theyll adopt and embrace and when you see the system and you use it, we have 90yearolds using the system and and secondary role in this thats really important not only can they talk to their medical professional, their doctor, but you can talk to your parents through tv. Youre on tv all of the time and they see you but for the rest of us its really neat. We call in to them, all they have to do is press okay on the Remote Control and there i am on their Television Set like a star. Maria i love it. Really good idea. Whats the feedback from the hospitals . Excellent. They are reaching a demographic they cant reach. People over 65 for the most part are technology reverse. They live remote. Theres 120 million households with tvs, they have cable connections and internet. Those who cant, satellite, retired military officer, worked in space program. We can connect through satellite , so we are agnostic to system and we can connect you through your iphone to your mom and dad at home any time of the day. Maria i love it. Seniors need this so much. This is a good idea and this is where the job creation is. Joanie courtney, you have been telling us that is where the jobs are in healthcare professionals. Tell us about this and what your reaction is to what tom is telling us with this new technology, telehealth . Yeah, tom, its very interesting to hear about this. We certainly see a Strong Demand for healthcare workers, you know, anything from physical therapists, registered nurses, physician assistants. Im actually curious, tom, on how covid has maybe accelerated your business or how you see it changing because weve certainly seen a tremendous amount of transformation, Digital Transformation accelerated with covid. How has covid impacted your business . Well, telehealth is is right now its like a tsunami. The growth in telehealth is tremendous, i think they are estimating 10 billion and understand what ive done here with my team. We have a Fabulous Team and what we have done created system to go after and reach a demographic thats not being touched right now. Seniors dont know how to use an iphone or tablet or computer, we are talking 45 million seniors out there that have the potential and not only in the United States, lets talk about business. We have a Worldwide Global, we can have a Worldwide Global impact by providing this service globally. Maria yeah, yeah. I just got my parents something called the gran pad for the very reason. Its not iphone but its a video chat. Youre right, youre hitting on the market thats right for change and in need. We will be watching. Good to see you, tom, thank you. Thank you very much, maria, thanks for having me. Maria tom conroy, sex and the city star sarah Jessica Parker out with a new show helping people find love. We will tell you about it. You are watching mornings with maria live on fox business. I got an oriole here. Eh. Common bird. Ooh look over here something much better. There it is. Peacock, included with xfinity x1. Remarkable. Fascinating. Very. It streams tons of your favorite shows and movies, plus the latest in sports news and. Huh run the newest streaming app has landed on xfinity x1. Now thats. Simple. Easy. Awesome. Xfinity x1 just got even better with peacock premium included at no additional cost. No strings attached. Just say peacock into your voice remote to start watching today. Maria welcome back, time for the morning buzz. First up how far would you go for love, sarah Jessica Parker says pretty far. The actress developing a new dating show for lifetime called swipe, moving to each others city, spending time with one another, with Close Friends and family. Joanie courtney, would you do it . I dont think id do it but i think its interesting. Its an interesting concept, certainly getting back into more reality tv of its kind a combination of wife swap and the bachelor or dating shows but im a big fan of sarah Jessica Parker and sex and the city and i think she will get a lot of attention on this one. Maria but youre not exactly going to be moving in with somebody that you dont know . By the way this is not sarah Jessica Parkers First Business venture, sjp joined me back in 2014 when she launched shoe line, she showed us shoes she was designing and they were beautiful. She has been an entrepreneur aside from her acting skills as well and she showed it to us in new york. Next up a new Study Reveals americans are facing more anxiety, 55 say they were more stressed in may than in january before the pandemic. Of course, attributing the pressure to the lockdown an unemployment, no surprise here steve moore . This is why we cannot continue to shut down the economy or return to a shutdown. Theres a report today about very large increases in drug and alcohol abuse. Youre seeing increases in depression, all sorts of social pathologies that have been related to this lockdown and its so crazy because the thing thats best for your health, the one thing we do know now is sunlight and fresh air are the two best disinfectants and get out this weekend, folks, dont be afraid and go out. Maria very good advice, steve, because the sunshine does do something to your moods, thats true. You dont have to travel to the milky way to make you feel lyre youre there, nasa to roll out scented perfume. Anybody can smell like a star, brian, would you wear it . Brian it smells like auras berries and rum, i will wear that any day, maria, sounds great. Maria i dont know if thats what it smells like. Quick break, the Union Square Hospitality ceo will join us on the future of dining in new york city. Dont miss danny meyer coming up next hour on mornings with maria live on fox business. Maria welcome back. Good thursday morning. Everybody. Thanks so much for joining us. Im maria bartiromo. It is jobs day, thursday, july 2nd. Top stories, 7 00 a. M. On the button on the east coast. Jobs in america this morning, the jobs report for the month of june will be out in an hour andahalf, 8 30 a. M. Eastern. Economists are expecting a gain of 3 million jobs for the month. Theyre expecting the Unemployment Rate to fall to 12. 3 . Weve got all hands on deck this morning and full coverage of the jobs report coming up. Coronavirus cases meanwhile are spiking at a record rate. More than 50 o 50,000 new cases reported in the United States yesterday alone. More businesses are rolling back reopenings. There is promising news on the development of a vaccine which we have for you this morning. Markets are higher this morning, futures indicating a triple digit gains an investors keep an eye on jobs, the virus and the possibility of a stimulus an the holiday shortened week nears an end. The nasdaq is up 43, s p up 21. The markets closed tomorrow for the july 4th holiday after the Third Quarter kicked off with a mixed day yesterday. The nasdaq scoring the 148t 148h record close under President Trump. The nasdaq was up 95 points. The dow was down, the s p was up 15 points. Currently more stimulus is coming. President trump says he supports additional money going directly to americans pockets, looking to add incentives to get people back to work. Hes warning of a market crash should former Vice President joe biden get elected. The house taking action over chinas crackdown on honk of kongs freedoms, voting to sanction banks that do business with chinese officials involved with implementing the security law that have left hundreds arrested in hi hong kong. Officials taking action in seattle, clearing out the autonomous zone after three weeks of occupation, the chop zone. Plus, tesla driving to new heights, charging past the competition. Tesla is the largest automaker by market cap, surpassed other big names like disney and cocacola. Mornings with maria is live right now. Global markets this morning are mostly higher, growing hopes of a Coronavirus Vaccine pushing markets in europe higher. Youve got pfizer and biontech announcing promising data from vaccine tests. Cac is up 80 points, dax is up 217 points. Encouraging vaccine news driving markets in asia overnight. The asian markets were higher across the board with best performers in hong kong and china, up better than 2 apiece. Joining the conversation is Brian Brenberg, joan see joaniey and steve Stephen Moore. Great to see everybody. Some of the top stories this morning, President Trump says he supports coronavirus stimulus payments larger than 1,200, as long as its done properly, the president says. Democrats called for another round of 1,200 payments. Mitch mcconnell says a potential phase four would be approved this month. Coronavirus cases are spiking across the country with single day numbers topping 50,000 for the first time, california, texas, arizona, North Carolina and georgia reporting their highest infection totals to date yesterday. The surging cases forcing some states to roll back their plans for reopening. California governor gavin newsom is reversing the states plans to reopen, ending indoor operations for businesses including restaurants in 19 counties. He is forcing bars to shut down completely. New york city also delaying the return of Indoor Dining, according to andrew cuomo, the governor. Police in hong kong meanwhile moving quickly to crack down on of pro democracy protesters under a controversial new National Security law. Nearly 400 people were arrested yesterday on the anniversary of britains handover of hong kong to china including 10 people for violating the new law, aimed at crushing dissent. They could face life in prison. Secretary of state mike pompeo calling the measure, quote, an afront to all nation, adding that the u. S. Will pursue efforts to end hong kongs special trading status. The senate is expected to vote on a bill that would sanction banks that do business with chinese officials who carry out this new legislation. The house passed its own bill yesterday. Time for word on of wall street right now, joining me right now is research chief macro strategist and cocktail investing coauthor, le lenore hawks ins along with jack adlin and katie stockton. Thank you for being here. It is jobs day in america, the june jobs report out in about an hour andahalf, the expectations call for a gain of 3 million jobs in the month of june as the economy rebounds from the coronavirus shutdowns and the Unemployment Rate is expected to fall to 12. 3 . This coming as the s p 500 finished higher again yesterday, its been surging since the market bottomed out 100 days ago. Lenore your thoughts on the upcoming jobs report and the impact. Ill be looking to to see whats going on with the workweek. When we look at what happened with the workweek from february to the low that dropped about 7. 5 and it makes sense that how many hours people are working is going to give an indication of what job changes were going to see coming up. The more people are working, the more hours, the more likely that employers need to add new jobs. Maria its a good point. Well be looking at this for the second half of the year. Jack, youre watching the Political Climate and these markets in the second half. President trump has been going after joe bidens tax plan. He did so again yesterday in an exclusive interview with fox business. Check this out. If he got elected, thats an overhangover the market. Because the market would crash. The market would go down by a tremendous amount. Hed raise taxes, hed raise regulations. Maria what about that, jack . Markets have been doing well so far. How do you see the political backdrop affecting markets longer term . Yeah, so, that is one of the things weve written about. We do believe the Political Landscape will be a headwind, particularly later this quarter. If we look at the predicted numbers, both biden and a democratic control of the senate are in the low 60s versus high 30s. And we havent really seen gotten a whiff of any of that right now on the markets themselves. Vice President Biden has already said that he would roll back the most recent Corporate Tax plan that President Trump issued in 2018. Maria so you think the more we hear about bidens plans, the more markets may react . You know, i do. I think its obviously a mixed bag. I also think that we could see an environment longer term where we actually get more growth. What were seeing in the economy nonowadays as the federal government and other programs getting checks to individuals, that growth is actually reasonably stabilized. So i think that measures that perhaps tax corporations and get better paychecks could actually offset the growth. Maria so record valuations meanwhile in the market, nasdaq reached another record high, 22nd record high this year, this coming as tesla reached a milestone market cap of 210 billion on tesla, this makes tesla the most valuable automaker in the world, also more valuable than other Companies Like cocacola, disney, exxon mobil and others. Katie, lets talk valuations. You are looking at the charts. What do they look like to you . Tesla as one example has broken of out to a new alltime high. Breakouts tend to be actionable on the long side. I know its difficult to buy a stock when its rallying strongly like tesla has done but it cleared resistance from february which was around 1,000, a very psychologically significant level and there are really no signs of exhaustion yet for tesla. That stock is very strong. Its coming into a pretty well setup market into the second half of the year. We had some consolidation in june by the major indices and that consolidation was healthy in that it generated shortterm oversold conditions, not for tesla, of course, but for a lot of names, especially on the value spectrum. Maria katie, what charts to to you look most striking in terms of potential gains for the second half of the year . Well, i always go to Large Cap Technology stocks which continue to uphold pos of testify relative positive relative strength versus the broader market. However, over the short term i do think we have potential to see outperformance also from value stocks relative to Growth Stocks and that would include the likes of the financials, which are very oversold, again, coming into the second half and have a very sort of subtle uptick in momentum over the past week or so. That makes them somewhat promising. We did not see any breakdowns in june. Thats a testament to the momentum. I think theres potential there too. Maria yeah, i mean, lenor, larry kudlow was with us about a week ago, saying that the Third Quarter we would see growth of 20 and the Fourth Quarter well also see growth of 20 of . Of 20 . Whats going to lead markets in the second half of the year from your standpoint, lenore and do you think the backdrop is going to show growth . What im worry about is if you look at whats gone on in, say, speculative grade debt from the beginning of the year to today, weve seen the default rate increase from 4. 4 to 6. 4 . Thats a 10year high. While the default rate has been going up, the Interest Rate that investors are really to take have been coming down. Weve seen 3. 6 million homeowners are past due on their mortgages attend of april and the delinquency rate has doubled there as well. Auto loans that are 90 days overdue are near alltime highs. These are things that are telling you that the underlying economy is struggling. The Federal Reserve and the federal government basically implemented policies of shock and awe to completely overwhelm the crisis level Economic Contraction that we saw. So we dont really know what happened underneath. We had an awful lot of people who ended up with more money in their pockets when they were sitting at home than they had when they were working. So we dont really know whats going on underneath the covers of all this. Being in an election year, were likely to continue to see a lot more stimulus. You dont want to have bad news in the headlines in an election year. So i think ill of that is making it all of that is making it very difficult to see the reality underlying. Lets not confuse the stock market with the economy. Maria thats true. Weve been seeing better numbers on the economy for sure. Beginning with that retail sales number a couple weeks ago and the jobs numbers last month. We have the next jobs numbers today. Well get those numbers for june. Great to see all of you this morning. Thank you so much. Be sure to tune into our coverage of the june jobs report beginning at 8 00 a. M. Eastern, where we identify where the jobs are in america today. First, texas congressman and medical doctor michae michael bs is up next. The ceo of Union Square Hospitality, danny meyer joins us on the new york city Restaurant Industry as it faces a pause in reopening. In the 8 00 a. M. Hour weve got georgia senator david purdue, talking about coronavirus. Dont miss a moment of out. Well take a short break and then coming up, the next jobs in america, one Technology Job set to boom while one company focuses on teaching skills for success. Youre watching mornings with maria live on fox business. 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. Maria welcome back. So what will the next round of stimulus look like, President Trump telling fox business yesterday the next wave of relief could deliver more than the additional 1,200 floated by democrats but also brushing off any effort that would, quote, disincentiveize work. Senate Majority Leader Mitch Mcconnell is vowing to abandon the unemployment expansion as part of the next round. The house passed an infrastructure plan yesterday which will likely fail in the senate. Joining me now to talk about that is texas congressman, along with medical doctor himself, michael burgess. Thank you for being here. Good morning, maria. Maria tell us about the conversation happening around another stimulus bill. When and how big . As you know, the house and the senate are in completely different places on this, just like the house of yesterday passed a transportation bill which will never go anywhere. They also passed another round of rescue or stimulus a few weeks ago which was 3 trillion in the total price tag which is also of never going anywhere. They saw yesterday signs from the senate they are perhaps coming into an agreement into perhaps placing more money into the Payroll Protection Program and another round of individual stimulus. I think the extension of the bonus for unemployment is likely to expire at the end of july, what ive been hearing from more than one employer where i am is i think you want people going back to work. You have joblessness high and employers that have jobs that are going unfilled. That has to be rectified. Maria let me ask you, congressman, yesterday we had on the coceos of standard industries, which is a Global Building Materials Company and they wrote an op ed saying that the congress should really consider doing a tax incentive for home improvement. Were all spending all of our time in our homes. We are investing in our homes. Should there be a tax incentive for that . Not sure about that. But i i talked about this before. Certainly the payroll tax holiday or payroll tax rollback which would be an immediate stimulus to working people, immediate stimulus to jobs, i think that is something that i know other house members have talked about and i think republicans in the house could get behind. As far as a targeted stimulus for home improvement, we could always everyone could always improve. Maria yeah. Make my home studio a little nicer. But i dont know that i heard a lot of talk about that. Its an interesting concept. Maria okay. All right. Well, then thats news in and of itself. Coronavirus is spiking across the country right now, congressman, as you know, even in your home state. The u. S. Seeing more than 52,000 cases yesterday. Your home state of texas seeing a single day jump of more than 8,000 cases. What should we be doing to curb the surge of cases . Did we reopen too quickly . No, this is of course why you do a phased reopening as Governor Abbott did here in texas and if you find parameters moving in the wrong direction, you dial it back. And thats what has happened. Controversial to be sure, the people who have been told that they have to reduce their Business Activity are not happy about that and theyre pushing back. Which is what you would expect. I will tell you this, maria. Different parts of the state are very different. I am one county north of Dallas County which as you pointed out did have record cases, but our hospital utilization here is about 50 of , 55 . Icu, 40 , ventilators, 17 . So its even just a few miles away from that city center, the crisis is somewhat muted. And it does seem to be a younger population that is getting ill. I dont know whether the virus has changed or its the population strai strategy to a r agdemographic. No one should want to get the virus, no one should try to get it. You should wear masks, social distance, wash your hands, dont go to work if you are sick, all the things weve been tol still apply. Maria there were a lot of young people in the streets over the last month is all im going to say there, in terms of protesting, in terms of looting, i wonder how much that plays into the spike were seeing. Let me bring in Brian Brenberg real quick. Brian on the point of reopening and closing again, its a yoyo for Small Businesses that are ramping up investments to get back at it, especially new york city, restaurants getting ready to open and the mayor says you cant do it. If we dont stop the yoyoking, no matter how many stimulus we get, it will not help the recovery. Small businesses are really frustrated with the uncertainty. What will fix it is of course coming up with a reliable vaccine and the work being done on that is going at warp speed. Ive never seen the collaboration that were seeing in the development of the vaccine and counter measures. The mandating of closures, even in texas, even in an area like mine that is relatively quiet, i dont think its a good idea, i think situations where you put yourself at risk, i think people get that. And certainly people that are in the higher risk zones, they maria that elongates the recession. A lot of people feel the way you do. Yeah, theyre not going to go to crowded places. Good to see you. Thank you, sir. Quick break, and weve got a lot on the other side. The next jobs in america, next. They get that no two people are 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. Maria welcome back. Learning to code, code Academy Teaching people of all ages important technical skills. Students using handson instructions to acquire the next jobs in america. Joining me right now is cofounder and ceo of code academy and he is zach sims. Zach, its always great to to see you. Thanks very much for joining me once again. Tell me about code academy and the platform. Are you seeing increasing interest in learning how to code . Absolutely. Since the beginning of the pandemic, weve seen more than 100 increase in the number of people that are starting to learn these skills. I think because of this tremendous shift towards remote work and unfortunately without being able to go into offices, people are looking into skills that they can start learning online from home and then get jobs from home with. Maria well, lets talk about that. Because what kind of skills are we learning here when learning to code . And where are those skills used mostly . So what are the jobs that code Academy Train users for . So we train people to be software engineers, mobile developers, data scientists. But also to learn software adjacent skills that can help people in skills like accounting, you can analyze lots of data or marketing. What we see is a lot of these white collar jobs that people can do from home these days require some level of technical proficiency and so people are starting to pick those skills up with us and then do those jobs from anywhere. Maria thats what i was going to ask you, what kind of skillset do i need or of education do i need before i actually come to code academy . Do i need a College Degree in order to learn this . How tough is it . There are certain populations out there that are afraid of engineering, afraid of coding, thinking that its over their head. Absolutely not. You need nothing to get started. I think thats one of the key things that we tried to do is make sure, especially now that all you need is a computer and Internet Connection to get started and really motivation and willingness to learn. And unfortunately, people in this case may have more time that they can pour into doing something positive and anyone can get started learning these skills. Hopefully that means anyone can access the Economic Opportunity and find a job as the economy starts to recover. Maria in terms of that job, what kind of salaries are we talking about once you get a job in coding . A lot of these salaries are in the six figures. In general, we see for Entry Level Software developers, 90,000 plus salaries that people are getting every year and those numbers are only continuing to trend upwards significantly. We think for someone who is looking at achieving pieces of the american dream, a great place to start is this set of skills can really help them drive towards a six figure salary, a better life for their family, and real Economic Security over time. Maria thats amazing. Thats why we wanted to focus on code academy this morning, on jobs day, because we are always looking for the next Job Opportunities for our audience and our viewers are interested in knowing where the opportunities are. When this pandemic began, code academy announced it would give away 100,000 Code Academy Pro member ships to to displaced workers. Whats the outcome . What kind of response have you seen . Weve seen a tremendous response so far. Theres the numerical benefit, again, 100,000 people that we hoped we can help get back to work of, but also some of the more touching human stories. One of my favorites is from a toyota factory worker who was furloughed, his wife was furloughed as a waitress as well. In addition to learning a skill, it helped him find meaning in a time when i think a lot of us are looking for that. Our help is that it hopes people find meaning and helps people get back to work. And hopefully well see more jobs added to payrolls in june. Maria good to see you. Thanks very much. Well be watching what youre doing. Coming up, pressing pause on the reopening of restaurants, Union Square Hospitality ceo danny meyer is here next after new york city announced a delay for Indoor Dining, how is the industry dealing, next on mornings with maria, live on fox business. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. 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. Maria welcome back. Good thursday morning, everybody. Thanks so much for joining us. Im maria bartiromo. It is jobs day, thursday, july 2nd. A look at the markets right now, 7 32 a. M. On the east coast. Were expecting a pretty good rally at the start of trading. Futures indicating a gain of 260 joints as investors await todays jobs report, due in about an hour. Well have full coverage of the june jobs numbers. Were keeping an eye on a record spike in the number of coronavirus cases here in the United States. As well as the possibility of adds decision nail nai stimulus. Additional stimulus. The nasdaq is up 52, s p right now up 24. This after the Third Quarter kicked off yesterday with mixed performances. The nasdaq was at another record high at the close. The nasdaq up 95 points, the s p was up 15, dow industrials down 78 points. The House Armed Services committee approving an amendment to ban confederate symbols. Cheryl it would ban the Confederate Flag from bumper stickers and clothing on all pentagon property, including bases, work spaces and front porches of military housing. The annual defense bill has an amendment that would force the pentagon to strip confederate names from bases and other property within a year. President trump has threatened to veto the bill if the name change requirement is included. But Senate Majority leader Mitch Mcconnell is urging the president to reconsider that veto threat. Well, a new start for pg e, californias largest utility exited chapter 11 bankruptcy after settling claims stemming from deadly wildfires. Its part of a restructuring, pg e is going to put nearly 5. 5 billion in cash and 22 of its stock into a trust for wildfire victims. The company pleaded guilty for its role in the deaths of 84 people and the camp fire. Pg es financial future remains uncertain. The company is carrying 38 billion in debt. Taking a look at the stock in the premarket, up a little more than two and a quarter percent. Heres a look at whats trending this morning on foxbusiness. Com. Amazons ceo, jeff bezos welt hits a new high, 171 billion. That tops his predivorce record. Dennys plans the to hire 10,000 restaurant employees by the end of 2020. One position is for a sanitation specialist, a job created by the coronavirus pandemic as a matter of fact. Lemonade raised 329 million in the initial public offering, 29 per share. And those are your headlines, maria. Back over to you. Maria cheryl, thank you so much. Meanwhile, this. Indoor dining delayed, california ending indoor operations for businesses including restaurants and bars in 19 counties. New york city also pressing pause on the return of Indoor Dining amid a surge in covid19 cases across the country. Join ming right now is Union Square Hospitality ceo danny meyer. Danny, great to have you this morning. Thanks so much for joining us. You are the ceo of a Restaurant Group with 20 cafes, bars, restaurants, how is this pause affecting your business . Well, its just more of the same really. Weve been working really, really hard to do something to get back to hiring so many of the people that unfortunately we had to lay off. And ive just got to say, as cruel as it was to go through all those layoffs, the sad thing is, is that if we had to hire people back and then lay them off again, that would be crueler. Were waiting it out. New york is very different than the rest of the country, especially with full service restaurants. Because a lot of people come to work via public transportation. We dont drive cars to go to restaurants. And its just taking a lot longer for us to get back. So were trying as many entrepreneurial things as we possibly can right now. Maria and i know that Union Square Hospitality group putting new health and safety protocols in place. Tell us about that. And how things are changing. Well, we want to be prepared for the day that we can welcome guests into our restaurants. We dont know when thats going to be. But we have a 36 page safety protocol, weve spent a lot of time with a lot of experts putting that together and every Single Person on our team is required to pass that test. Its a rigorous test. I intend to pass it before i walk in and serve one guest in any of our restaurants as well. But heres the thing. Even before we welcome guests into our of restaurants, theres a lot of green shoots of entrepreneuralism happening in restaurants across the country. What were doing in every restaurant we can is to find some way to activate our kitchens. We want to be part of what contribute toss a positive jobs report. One of the things were launching right now with an Organization Called rethink and this is sponsored by Brookfield Properties, in order to allow us to to hire people back is to cook food for people who need Food Assistance in new york city and to activate our kitchens. Weve got two really amazing assets that have been dormant for too long. Our kitchens and our talent. So even if we cant welcome guests into our restaurants, we want to cook food for people in new york city that need it. Maria i love that. And this nonprofit organization, rethink food, is helping you do that, to reactivate the restaurants, accelerate reemployment and were all doing it, providing this more than 125,000 meals to families and danny, has this resonated . What are you hearing from the communities youre operating in as a result of this new partnership . Were just about to start it. We were very inspired in a couple ways. One of my former colleagues, daniel hohn from 11 madison park converted that restaurant into a rethink restaurant. This was many, many weeks ago. It was soon after that that unfortunately we lost one of our chairished colleague cherished colleagues to the virus. That kind of stopped everything in our company. Now that people are starting to get back and were starting to do takeout meals and delivery meals in a few of our kitchens, we said, look, weve got enough kitchens, weve got a lot of amazing colleagues who are dying to come back to work, lets put this together. So we learned a lot from daniel. We also learned a lot from our colleague, mike anthony, the chef from gramercy tavern and Brookfield Properties very generously is contributing the money to allow this to happen. Maria danny, what about the ppp, the money coming from government to help employees and businesses get through this . Whats the status of that in your view and do you think how many restaurants do you think wont make it out of this . I know this has been hard to lose all that foot traffic. Well, its not just foot traffic were losing, maria, its revenue. We have no revenue. And i think what the ppp did its gone in fits and spurts. I was very, very happy to see that the program just got extended so that people can continue to apply for ppp loans. But lets just understand one thing. The ppp loans applied mostly to being able to rehire your staff back. And if your jurisdiction does not permit you of to hire people because you cant be in business, it doesnt really do you a lot of good. So the program has been improved and im really very happy to see that in a bipartisan way. The next bill that i just read about a couple days ago that we really need to focus on is called the restaurants act and that is money to allow independent restaurants, not public companies, but independent restaurants to have the kind of restart capital theyre going to need to be back in business. Lets face it, when we went out of business in march, we still had piled up bills from february and january. We owed money to suppliers, whether they be in the wine business or the food business, landlords, lots and lots of other expenses and in order to rehire people and to restock your inventories and get back in business, its going to to take restaurants a lot more money. So this bill, which is on top of the ppp loan, is a critical thing for congress to take a good look at. I was happy to see it was proposed in a bipartisan way just yesterday. So well see what happens. I just cant overstate one thing. The Restaurant Industry is absolutely indicative of where the economy of this country is going to go. We are the highest employer we were the highest employer outside of government in the entire country. When we think about the health of our communities economically, ill also say emotionally, people feel good when they go to restaurants, so hopefully well all get this back together here. Exactly. We are all eager to get back and go out dining once again. Danny, its good to see you this morning. Were rooting you on from afar. Thank you, sir. Well keep checking back. Protecting yourself against covid19, we take a closer look at which masks are best with dr. Mike, its next hour. The price for youtube goes up, prices jumping for the streaming service, well tell you by how much. Liquor sales surging, more people drinking at home. Youre watching mornings with maria, live on fox business. Have a drink on me. Have a drink on me. Youll see gratitude. Communities showing support in their own way. Our way is massmutual healthbridge, a free Life Insurance program just for healthcare workers fighting covid19. So to all the healthcare workers on the front lines, thank you. Maria welcome back. The 4th of july Holiday Weekend is just about here. But classic Outdoor Activities will look a lot different this time around. As americans turn to athome cocktails. Spirits giants bacardi seeing a 400 surge in online sales for the month of may. Joining us now is the executive Vice President and chief financial officer, tony latham. Thank you for joining us. Are you in boom times once again . Good morning, marie y thankss for having me. Just in context on the business performance, 25 of our revenue comes from what we call the onpremise, bars, restaurants, nightclubs, sporting events and that business has been curtailed significantly over the last two to three months. What weve seen is a significant shift in where people are enjoying our wonderful brands. Theres been a surge certainly in retail sales with people enjoying cocktails at home and as you mentioned a surge in Digital Commerce. All of that is not enough to offset the loss were seeing in the onpremise as your previous guest mentioned. Maria i see. So the 4th of july traditionally the third most popular day for liquor sales at bars and restaurants. You dont have that foot traffic as we just heard from danny meyer. How will that look this year . Well, were still expecting to be enjoying 4th of july, just enjoying it in a different way. Lots of backyard barbecues, smaller social gatherings, people looking for convenience in their spirits. So were seeing a lot of interest in ready to drink sales and convenience packaging and we Just Launched a fresh range of ready to drink mixers. So thats performing very well. Were expecting people to enjoy and celebrate the 4th of july, just a little differently than they have in the past. Maria Brian Brenberg, jump in. Brian tony, your online sales are booming and obviously were seeing this trend toward cocktails to go from onpremise services. That leaves your Liquor Stores i wonder, theyve seen good sales but over time does that particular channel gette get d as you see the takehome cocktails and online growth and how do you manage that because thats a key source of revenue for you and your competitors . Brian, good morning. I think were seeing incremental sources of revenue, to be honest, particularly the Digital Commerce space. It was an underpenetrated industry, spirit sales online. Were seeing a lot of people buying spirits online and a lot of the platforms are emerging, whether that be instacart, et cetera, are just creating a frictionless experience for consumers. Im not seeing that as a threat Going Forward. Rather, an opportunity. Maria so iowa is the first state to legalize togo cocktails, tony. You said consumers are looking for convenience and portability. Is this the future of the alcohol industry, togo . Again, maria, i think its a big opportunity. One of the things weve been doing extensively over the last two, three months is working with our on ofpremise partners, restaurant owners, bar owners, bartenders, servers, to help had them evolve their Business Model. A lot of cocktail togo solutions making it easy and consistenconvenient to deliver d helping them establish social media presence, et cetera, as well as looking at how they can lay out their physical formats to comply with social distancing rules. So i think its a big opportunity Going Forward and certainly an area of inknow strayings for us as we innovation for us as we look forward as well. Maria all right, tony. We are watching the developments. We so appreciate you joining us this morning. Thanks so much. Great. Thanks, maria. Maria tony latham joining thrus. The price of youtube tv is going up, the service now a lot more expensive. Were going to check it out. You are watching mornings with maria live on fox business. Ill be there. With a love that will shelter you. Ill be there. Hey there people eligible for medicare. Gimme two minutes. And ill tell you some important things to know about medicare. First, it doesnt pay for everything. Say this pizza. [mmm pizza. ] is your part b medical expenses. This much about 80 percent. Medicare will pay for. Whats left. This slice here. Well. Thats on you. And thats where an aarp Medicare Supplement insurance plan, insured by Unitedhealthcare Insurance Company comes in. This type of plan helps pay some of what medicare doesnt. And these are the only plans to carry the aarp endorsement. Thats because they meet their high standards of quality and service. Wanna learn more . Its easy. Call Unitedhealthcare Insurance Company now and ask. For this free decision guide. 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Whew call unitedhealthcare today and ask for this free decision guide. Maria welcome back. It is time for the morning buzz. First up, the price of youtube is going up. Jumping from 50 a month to 64. 99. This as the company starts offering eight viacom cbs cheanls including mtv and tv land. Real Competitive Landscape out there, Brian Brenberg. Your reaction. Brian my wife was just complaining about this yesterday. When youtube tv started it was 35 bucks for a subscription. That was three years ago. Today its going to be 65. People were looking for an alternative to the cable pricing model and price increases and youtube is following that. I think its a wrong move for them. They should be going for value here, not raising their prices by 15 bucks over what it is right now. Maria wow. There you go. Youve got options out there. Jennifer lopez and arod taking on a tiktok again. Look at this. The do yo duo completing the wof chance tiktok challenge. Joanie, your reaction . Joanie well, first of all, they are just the cutest couple. I think a lot of people cant get enough of them. And i mean, any time you can watch jlo dance. So a ton of fun. Theyve been so engaging through this pandemic and great of to see them have fun together. Maria they really do, its really fun. Finally, take your Vacation Time now. Employers are telling workers to use this time they have this summer, businesses are looking to prevent burnout and the year end crunch of vacation requests. Steve, your reaction . Have you taken a vacation yet . Steve for a lot of americans, theyve been on vacation now for three months. In fact, i talked to my barber today who just reopened. He said this was the best three months i ever had, the government paid me not to come into work and run my business. At some point, look, you take a week vacation but, maria, we have to get americans back on the job. Producing. Maria yeah. Well, the point is if you dont take vacation now, youre going to want to take vacation later on in the year and then employers are going of to have a crunch of people wanting to take off. So thats what were up against. Because youre working from home, youre not taking a vacation, you might want it in november, december. Who knows. All right. Protecting yourself against covid19, the issue of the day. Were taking a closer look at which masks are best. Well talk with dr. Mike about that next hour. Jobs in america, the june employment report is out in about 30 minutes time, you are watching mornings with maria live on as a caricature artist, i appreciate what makes each person unique. Thats why i like liberty mutual. They get that no two people are alike and customize your Car Insurance so you only pay for what you need. Almost done. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Apps except work. Rywhere. Why is that . Is it because people love filling out forms . Maybe they like checking with their supervisor to see how much Vacation Time they have. Or sending corporate their expense reports. Ill let you in on a little secret. They dont. By empowering employees to manage their own tasks, paycom frees you to focus on the business of business. To learn more, visit paycom. Com good thursday morning. Thanks so much for joining us he i am maria bartiromo, jobs day, thursday, july 2 your top stories just before 8 00 a. M. On the east coast, jobs in america, the june jobs report out in half an hour economists expecting a gain in jobs about three million jobs added to economy month of june, Unemployment Rate expected to fall 12. 3 , we have full coverage all hands on deck coming up right here right now, meteorology coronavirus cases are spiking at a record rate in the country, more than 50,000 new cases reported, in the United States, yesterday, alone, this as more states business, apple rollback reopening there is promising news on development of a vaccine we will bring to you, markets are rallying this morning check out futures indicating a higher opening, as investors keep close eye on jobs virus possibility of more stimulus as this holiday shortened week nears an end dow industrials up 259 points, nasdaq futures up 67 s p futures up 4, markets closed tomorrow for july 4th holiday as Third Quarter kicked about off yesterday, with mixed performance dow down 77 but nasdaq up 95 s p was up 15 and one half, at 4 00 wall street yesterday nasdaq 22nd record close of the year, are mornings with maria is live right now. Maria Global Markets are also, higher this morning, a positive tone as growing hopes for the a Coronavirus Vaccine fooultz markets in europe pfizer bion tech announced promising data from vaccine test that they are doing, as a result, you you are seeing markets higher, europe as well ft 100 up 51 cac quarante in paris up 80, dax indices in germany up 229. Encouraging vaccine use driving markets in asia best were in hong kong, china up better than 2 apiece, joining the conversation this morning, Brian Brenberg Joanie Courtney Stephen Moore get a to see everybody on jobs, thursday. Good morning, maria. Yeah good morning, good morning. Exactly. Some top stories we are watching this morning, President Trump says he sports coronavirus stimulus payments larger than 1200 dollars as long as done potentially democrats called for another round 1200 dollar payments Mitch Mcconnell says potential phase four could be approved this month coronavirus cases spiking across the country signing day numbers topping 50,000 for the first time, california, texas arizona North Carolinago roshth highest infection totals to date yesterday surge in cases forcing some states to roll back plans, California Governor Gavin Newsom reversing the state plans to reopen ending indoor operations for businesses, including restaurants in 19 counties, also forcing bars to shut down completely, new york city meanwhile, delaying return of Indoor Dining, andrew cuomo reported that yesterday mcdonalds paused reopening of dinein services in United States for 21 days as coronavirus cases grow right now 1,000 of 14,000 locations have reopened with reduced Seating Capacity pandemic cutting o into nfl preseason league expected to officially cut number of games from four to two reportedly considering making fans sign liability waiver. The father of teen shot and killed, in seattles chop zone demanding answers from city officials, so are we as prepares to bury his son day. Come knock on my door tell me something that you know o i dont know nothing all i know my son was he got killed up there he is just this is 19yearold, that is that is my son you know i love him that was my son. Maria this is so upsetting Horace Lorenzo anderson junior killed in cop free zone anderson senior said he found out about sons death from friends not police no police allowed in the zone in fact still has not been contacted by any official, from seattle, Seattle Police have begun the process of clearing out the zone, following the mayors emergency order, police chief slammed the city, for allowing the zone to remain far too long, saying quote enough is enough, as of last night 44 arrests were made in the chop zone. Will the this poor man lost his son. Meanwhile, next round of stimulus, is being talked about President Trump telling fox business yesterday wave of relief could deliver more than additional 1200 the floating by democrats but brushing off any that effort would quote disincentivize work. Mitch mcconnell vowing to abandon unemployment expansion as part of next round house passed a one and a half trilliondollar infrastructure plan yesterday, will likely fail in senate joining me right now georgia senator member of the Senate Budget foreigner aaffairs are Armed Services Committee Former reebok general ceo david perdue good to see you thanks very much for joining us. Good morning, maria. I am really struck by that individual, from seattle, who lost his son. And, you know, for a couple of weeks here, we had the capitol hill occupation zone, chop which was okayed by the mayor in fact mayor said this peripheral will be copfree zone, and obviously, there were guns there, it was absolutely irresponsible why hasnt senate done anything to those people taking over cities destroying our infrastructure and acquittaling people . What can you do. Well, i think you hear President Trump talking about a land of laws those lands have to be enforced they have to be enforced fairly the realization, as you said, before anarchy is not answer Defunding Police eliminating ice what left watches to do we see capitals of that in major cities right now look what senate is trying to do is to get calm back in the country then lets deal with this lawless nature that we have in some city mayors. Of. It is a question of resources, senator, right . I mean, youve got 2000 open fbi investigations right now into spying from china. As they send all these researchers in to steal our information, date we dont have resources to even open more investigations, because there should be 10,000 investigations right now, why . Because our you a Law Enforcement are standing around protecting statues there has to be something done on congressional level to bring law and order back to this country. Will. There is no question, law and order is number one thing that weve established here consistency 1789 maria as you well said i think one of the things we are talking about here federal government not getting any cooperation from our cities and some states, look at yous sanctuary cities defy fall are you a we have city lawyers will encouraging people violate federal law not acceptable we are looking at in a right now in tfrms of all money we send to cities what we can do to incentivize people to obey federal law. Let me move on obviously, year very upset by this to see this man having lost his 19yearold son is such a tragedy, and he was in the chop zone got shot. Let me ask you about these President Trump rebefore you go reports he have was informed of alleged pay in front of these moscow taliban linked militia a what thank you tell us about this president pointing finger at media for misinformation here is what he said yesterday watch. When you bring something into into a president , i see many, many things, i am sure i dont see many things that they dont think rose to the occasion this didnt rise to the occasion from what i hear, and i hear pretty good, the intelligence people many didnt believe it happened at all. I think it is a hoax i think a hoax, by the newspapers and democrats. Maria senator what do you know about this . Maria i was a over there yesterday i will just say this during the time that that was that briefing was supposedliheld there were military generals in that room in white house and Dod Intelligence Community lets just say we know russia is led by thugs they are nefarious, they needed to be hoeblt accountable if true one objective protect men and women in uniform not online threats from russia and china but coronavirus as well, i think this heightens idea what President Trump has been doing standing up to putin russia with sanctions getting the our allies to stand behind that is absolutely the right strategy but weve got to stay true to that we have election coming up we know they tried to affect our social media, this is something that is not going to go away i think the president has done a good job leading this in terms of standing up to them this will be cleared up next few days i hope. We will know much more about that particularly briefing i think the president is worried but i think i at this point weve got to be serious not jurist about russia but no no, china. That is dangerous world maria. So senator let me ask you this because i have been working on this project since democrats took control of the house in 2018 the entire agenda changed so how many briefings and hearings have you done in your committees about National Security, and about china, versus the number of hearings and briefings used about investigating donald trump . Listen maria i can tell you this since donald trump was elected in 2017, we have spent so much energy look we just had a an impeachment hearing a conspiracy originated in white house 2017 we had the Mueller Investigation my goodness the most investigated president in history of the United States i think we have not we have waitdz resources and time getting after things we should have been paying attention to, in my opinion, it is time for that to o stop weve got a election this fall i hope American People stand up make plain they are tired of this get on with peoples business maria this president has executed the best economic turnaround in u. S. Hwe have he helped 2 1 2 Million People pull out of poverty look how he led this coronavirus pandemic, my god we shut the economy down trying to reopen right now, we protect his first goal to protect are americans, and now, he has been true to his word creating jobs we are trying to get that reopened right now. Maria well, look, somebody has got to be fired here, because the fact is that china has been eating our lunch hef stepped up aggressive Espionage Campaign sending researchers in to spy steal information your colleagues still looking for ghost under bed for russia collusion you know what it is wasting time energy money for the peoples business hopefully, you can get back to business at some point about senator, thank you so much. Senator perdue joining us in washington this morning. We will keep if onlying too following fox business letter tesla beating deliver estimates for Second Quarter announcing produced over 28,000 vehicles delivered over 90,000 saying that while there faishlth was closed much quarter has production back to prior levels the stock is stoorg think a at this move up better than 9 on tesla coming up june jobs report out 20 minutes away from much anticipated employment report for month of june we break down everything you need to know when we come back you are watching mornings with maria live on fox business. 300 miles an hour, thats where i feel normal. Having an annuity tells me my retirement is protected. Protected Lifetime Income from an annuity can help your Retirement Plan ride out turbulent times. Learn more at protectedincome. Org. I am totally blind. And non24 can make me show up too early. Or too late. Or make me feel like im not really there. Talk to your doctor, and call 8442342424. Maria welcome back. June jobs report out in 125 minutes time weve got expectations for growth in jobs, three million jobs added to economy month of june, as economy rebounds, from the coronavirus shutdown, we are expecting, the Unemployment Rate is expected to fall 12. 3 we get numbers shortly we are expecting initial jobless claims out 1. 36 million jobless claims expected to have been filed in the last week, we are up to what 45, 46 million americans steve moore applying for initial jobless claims after we get numbers this morning. Maria are we have gotten ourselves into a big hole here that is huge day, remember maria exactly a month ago we were, sitting here, and we were expecting, what 8 million jobs lost we got plus 2. 5 million or something, lets hope we get a very pleasant surprise i am going to be paying very close attention, to some of these industries, we have been talking about real industry talk bag restaurants, another one i want to pay close attention to what happened in area of health care you know hospitals had huge layoffs, during the crisis, so, im expecting a good number but we need many months of good numbers to get back to where we were. Yeah, but i mean how much stimulus can we get nancy lazar Cornerstone Macro is saying this morning in her report that, the stimulus already amounts to 44 in gdp steve, it could approach 50 soon what is the downside of having 50 of the gdp being stimulus . This is an important point, i mean i had a piece in the wall street journal, a couple weeks ago making this point, that we were headed to over 50 gdp spending here is a problem when it comes o to these employment numbers, look, these employment to real Unemployment Rate in the country is a lot higher, than the official number we are probably closer to 20 , unemployment, because what is happening now, is the government is actually paying the payrolls of a lot of businesses, for workers who actually arent really working but they are payrolls being boosted by government payments, that cannot go on forever, and weve got to get, businesses up and ring that is why, we i said earlier today say again we cannot reverse course on reopening of the economy right, could or cataclysmic results. Looking at next jobs in america joanie we heard earlier on coding he said that a coding job c, can command 90,000 dollars to triple digits six djz hundreds of thousands what are other highpaying jobs are available today. You know, maria he was right on point with coding, Software Developers Applications Developers engineers, excuse me some of the hottest jobs in this demand, health care, as well. Truck drivers, though, is coming back, cloud cover drivers in high demand they may not be the really high end paying jobs, but has to be do pay very well, so, my concern is really around the retail workers waitresses bar tenders, you know, the lower hourly workers that have been laid off. That are making quite a bit on unemployment. They are not of motivated to come walk into workforce they are making more than they ever made before, and that is a challenge, so i was really excited to hear President Trump speak yesterday, to blake burman about that we need a proper stimulus to incentivize people to come back to o work, that is what is so important right now. Maria right, right. Not incentivize them to stay home. The june jobs report could be a bear market mover we break everything down that you need to know, stay with us. Well be right back. Usaa is made for whats next were helping members catch up by spreading any missed usaa insurance payments over the next twelve months so they can keep more cash in your pockets for when it matters most find out more at usaa. Com june jobs report due out in a few moments economists expecting o growth in jobs c, three mm jobs added to economy Unemployment Rate hitting 12. 3 , joining is right now to talk more about that the wall street journal Senior Writer Jon Hilsenrath, making money host charles campaign gentlemen good to see you. Thanks for joining the conversation let he let me kick off with you jon expectations what is most important from jobs report due out about five minutes. For me most important is unemployment claims number comes out weekly, actually what i want to see is whether uptick about in infections that are being reported is showing up, in the jobs data the big number for me is 1. 5, claims numbers have been coming down to around 1. 5 million a week, i want to see them continue to come down if they go above 1. 5, that is a sign the rate is up infections might be slowing expansion. Jobless claims numbers unemployment numbers from Labor Department in five minutes time, a short break and come back with all handson deck for the june jobs report right after this. [indistinct radio chatter] mom come on, hurry up all systems go . Mission Control 5 4 3 2. Ignition and liftoff. vo audi etron. The next frontier of electric. Maria welcome back. Good thursday morning thanks so much for joining us. Im maria bartiromo. We are waiting on breaking news right now he on jobs in america in about a minutes time the june jobs report economists expecting job growth three million jobs for the month of june, added to economy, they are expecting Unemployment Rate to fall 12. 3 this morning, ahead of numbers futures pointing to a gain start of trading, weve got a rally underway Dow Jones Industrial average right now up 237 points this market has been on fire. He charles your final thoughts before june jobs report what is priced into this market . A manufacturing is going to be a key all key he fed region manufacturing reports o phenomenal yesterday ism phenomenal to the point real unemployment higher we want participation even if it will be politicized that is what i am looking for. Maria yeah, i think you make a really good point in terms of manufacturing jobs because this is going to be a key element to the administration growth plan to get us it off this, with the economy bringing supply chains back from china, to america, firing up the Manufacturing Sector here in america, that is where you are going to see real job a creation we want to see where jobs were in manufacturing with this number again expecting three million jobs estimates from 2. 8 to 3. 1 million jobs, much better than expected lets get to Cheryl Casone right now, you got better than four million jobs. Cheryl we do, are lets start with first june jobs report, the estimate three million jobs added came in better than expected dow higher 4. 8 million is actual nonfarm payrolls number that came in, now the Unemployment Rate was expected to come in at 12. 3 , the Unemployment Rate 11. 1 , two more things Jon Hilsenrath mentioned thissish in claims want to get to this immediately kind of a different story, the estimate was for 1. 355 million, initial claims last week that came in, a little bit higher guys 1. 427 million, and then continuing claims, the estimate, was for 19 million on continuing claims, story it came in 19. 29 so a little bit higher, of a number here now looking at o few things were looking at as far as jobs picture he overall i want to ache take a look Unemployment Rate breakdown of jobs as seeing them charles, manufacturing payrolls, the estimate was more 311,000 came in 356,000 so a little bit better an manufacturing story, private payrolls polling was for 2. 9 million private payroll jobs added, get this, 4. 767. Added. Now lets go to earnings, folks, because we are looking for average earnings, lenore talking about this earlier going to see a lot of we saw earnings fall monthovermonth more than expected, 1. 2 , and yearoveryear area, kind of came in flat 5. 3 was estimate came in at 5, average workweek again pointed out earlier the poll 34. 5 we came in at 34. 5 so right in line but, again, going back, to the june jobs report, 4. 8 million jobs added, Unemployment Rate of 11. 1 , and then on initial claims story again, just to reiterate worse than expected market doesnt seem to care, 1. 427 the actual number for initial continuing claims 19. 29 million maria i leave you with this you were mentioning this a few moments ago we have now had 47. 25 initial claims in midmarch if you add in new number we are at about 49 million initial jobless claims since the pandemic, began, and that was in midmarch again getting the breakdown what headlines crossing i send it back to you and panel for initial reaction right now. Maria cheryl, thank you as talking reporting all this betterthanexpected news this market is on fire we are looking at gain 411 points right now, on dow industrials, nonfarm payrolls 4. 8 million jobs Brian Brenberg much better than expected Unemployment Rate dropping to level 11. 1 , the estimate was 12. 3 , so you got a betterthanexpected as well. What a number once again in a month where economists just couldnt get their headed around what is happening in the economy, you are better off talking to neighbors better off driving around town looking at what is happening, big numbers here manufacturing, big numbers here in Leisure Hospitality and retail so important, obviously, because those are the sectors that got shut down this weeks number about jobless claims not as good of news but also i think not as bad news as many people predicted now that we are in uncertainty potential shutdowns coming back before this undergo economy really had strength people want to get back to work, that 4. 8 number coming on heels what we saw last month, is huge. I think markets are reacting strongly. Charles payne you wanted to know that manufacturing you got factory jobs in june, 356,000, look at what youve got in goods producing jobs 504,000, construction up 158,000. Private Service Providing jobs 4. 26 million, retail up 739,000 as well you got job creation in most sectors here charles. We do, and that is why you might see the hourly wages down a little bit because all the boxes were checked including the lowerpaying jobs worth, americans hit hardest folks cannot work from home, so they are back at work, this is amazing story the markets are for me only cash out data investors someone has daily o but on market how the market reacts right now love the fact futures up 400 points on dow the thing we want great news this is great news market keeps saying vshaped recovery even though economists keep saying it is impossible. Feels like market right Jon Hilsenrath market trading up hitting records even in face of the coronavirus, doomsday news. Look at this market day, your reaction to what were hearing on jobs. Couple things first thing on the market the market seriously of coronavirus in february, sniffed out the turn around we started to see late april sniffed out slowdown remediate i do think we need Pay Attention to the market i think this today is good number shows continued improvement a relief even, initial claims number i mentioned is continuing to come down, that is good news. But i would agree a what steen moore Charles Payne said at beginning long way to go Unemployment Rate 11 down from very high levels before still higher than of we have had in department thgs of any recession since world war ii, good news he lets hope it keeps continuing. Yeah larry kudlow was here a week ago, irasked him if he thinks he can get Unemployment Rate below 10 by yearend he said yes, that is what we are expecting Joanie Courtney where are Job Opportunities based on numbers you are seeing the this morning . Definitely manufacturing, maria. We see a tremendous of demand in that sector across america, one of the challenges though is manufacturing is they are impacted by the stimulus, is to, when the unemployment checks if that does end in july i think we could even see more manufacturing workers kind of come back to work. Health care is strong i have to say annoyl i know this report has so many good indicators labor participation, went up, you know moved right direction, to 61 1 2 , it is great to see retail jobs coming back. You know. Two million of the jobs are in the leisure and hospital field, that is. Fantastic we need workers to come back many businesses not bringing back fullstaff only maybe about 50 capacity, we are still impacted where people are not traveling but we are moving in the right direction so you know overall this really is a blockbuster report, and speaks to the strength of the economy that we are on the right track we just have to really be careful, with the spread of this virus that we dont slow down people need to take that seriously because it is important to keep americans working right now. This is the record number, 4. 8 million jobs a record showing, for this month, a real snapback in terms of what were seeing in the men and women of june but how do you how do you look at the job creation that weve seen as well as steve moore the number of people that are still filing for unEmployment Benefits which obviously is not what markets focused on today but you are talking about close to 50 Million People. In the last this is biggest same job creation i think in American History i may be wrong about that i think i am right. Maria you are right. That is amazing statistic i know a guy really smiling big grin on face this morning donald j. Trump this is a testament to strategy working. Is to, across the board we still have a lot of work to he do jon, you are right about that four or five more mince kind of good numbers maria. I want to make one other policy point if i could i believe we would have had a million more jobs created this morning, if it were not for these unEmployment Benefits that are paying for out of five workers more money to stay onssss sidelines we have strange situation 30 million or so Unemployed People you have actually a lot of job openings in United States because kaemployers telling me every do a i get calls from Small Business manufacturers largest businesses saying we are having a hard time getting our workers he back, now, this report is good news that a lot of people are starting to come back, but it is a really critical point of view a debate starting next week nancy pelosi wants to stepped those benefits for the another six months i think would be a huge mistake we estimate that would cost the economy about 10 million jobs, so, so theyve got to i like what trump said in that in that interview with brian with blake yesterday, where he said, we want policies that encourage people to get back into the workforce like, payroll tax cut, not policies that keep people out of the workforce like unEmployment Benefits. The. Yeah just to be clear 600 dollars, that has gone to so many people unemployed, making some people, make more money for stake home than being on the job, that program ends july 31, so, as the economy starts to reopen, some people say i dont really want to go back to work getting money jealous july 31 if we extended another six months there is a question when people actually come back to work, Edward Lawrence is looking at this employment report digging are dealer specifically where jobs are edward over to you. This is amazing, actually you are seeing the 2. 1 million jobs created in leisure and hospitality that is two fifths. Drivinging places Food Services eveded 1. 5 million jobs you Talk Health Care you mentioned that earlier today, 358,000 jobs in health care, again, you know retail is up 740,000 jobs, now in may was up only 372000 so that retail starting to hire again if you look at the unemployment number there if you break that down white Unemployment Rate 10. 1 black Unemployment Rate coming down to 15. 4 , hispanic Unemployment Rate 14. 5 , er asian want Unemployment Rate 13. 8 starting to come down on misclassification it says in 24 job report that misclassification was less in june, and problem centers around, workers that are absent from work began they are saying that because of the training that they did, the misclassification in is less so we have a better top line number Going Forward in this jobs report built again construction, another one charles mentioned construction up 158,000 so maria, good report anywhere you look at it. Maria well a good point that you he make on construction, because it is really been housing and construction that have been the leading indicators, in terms of of a comeback for this economy, you know some people looking at viflt shaped other people looking at ushipped nike swoosh, whatever it is we have turned a turning point in terms of getting back to work that a fair statement Jon Hilsenrath knowing we are skiing is a string of good numbers here depending with retail Sales Numbers couples weeks ago consistency in terms of job a creation. Absolutely a turning point in may states started to reopen i think the question right now critical question is whether we can keep that momentum going. In the face of what looks like a a new spread of the virus i think what a lot of states have learned is that they have to find some kind of new balance a shutdown total shutdown of business was devastate to go the economy but there are policies, masks, mask enforcement will allow people to work without threatening spread of the virus, you know if you look at some Realtime Data right now like, some of the traffic in malls stuff like that looks like it is slowed a little bit so the big question Going Forward for next couple months is momentum can we keep that momentum going. Yeah, you mentioned masks a great segment coming up on masks not all masks are created equal actually some not really effective we are going to tell you what is effective. Brian brenberg when you look at job situation today and the expectations that we could actually get 2340i789 write a below 10 by yearend would with require skings in terms of job numbers. I think that is a real risk maria you think about the Leisure Hospitality businesses the restaurants, they are working hard of you been in a restaurant recently youve seen that they have got masks on distancing working as hard as they can to generate revenue to stay in business states cities have to show businesses that they are for them, that is the big risk right now i think a lot of businesses dont know and feel like, they can have the rug pulled out any moment that is going to slow down hiring, i know we face risks with spread weve got to be smart, but these businesses have to know that their political leaders have their back because if they dont know that they cant keep up the pace they want to, they want to keep up this pace they got to feel like, people are behind them with them right now too many cities, states, i think still too hesitant about that. Brian what are you hearing from students youve got a great Vantage Point in terms of the University Environment right now, where students unfortunately are graduating into one of the worst jobs markets on record, notwithstanding very good numbers we are seeing this morning, what are students doing, and and is there a trend in terms of the jobs that are available for them . You know working really hard in trying to be creative frankly i have been impressed by my students, theyve not take place this as an sxies excuse to sit do i want they tried to create opportunities willing to take jobs maybe werent preparing have did not have in mind i tell you this they want to get back to being together, they want to get back in the classroom, they want to get out and do things they have got to do it smart we know that we know is that an issue i am impressed by resilience i think showing that they want to get out create opportunity that is what we need in this economy. Steve moore . Of well, one really interesting thing is the market what i cant see on screen how much is dow future up right now . 407 points, 407. So interesting about this maybe jon has explanation, normally when we have boom you know numbers for jobs, sometimes the stock market actually goes down, because you know the market thinks fed is going to, you know, ray Interest Rates, when economy is doing very well, i never could understand that, by the way, why good jobs numbers, oftentimes led to lower stock market but in this case, we do have an environment where we are seeing healthy job growth now, but there is no have to inflation in the economy no inflation with whatsoever. So i hope the fed does not respond to this, jon by saying well maybe we can we can start to easy off on ease off on increase do already liquidity we need increased dollar liquidity pro employment policies combination very bullish i think. I think the Federal Reserve has been pretty clear hasnt it Jon Hilsenrath Interest Rates are staying where they are until 2023 at men, end of 2022, of course, so far weve got, stimulus being thrown at this problem, to the tiny of almost 50 , of the gdp. Yeah, i i mean, jay powell last person wanted to get in essay of expansion made that clear the fed getting some programs up and running trying to ply hundreds of billions of dollars worth are Corporate Bonds i dont think they are a problem i think the next big debate on surplus front is in capitol hill right now, the house just passed one and a half trilliondollar Infrastructure Spending bill a big debate that steve moore mentioned has to happen about what they do with 600 billion, 600 dlals supremely supplemental weekly paychecks state and local governments debate whether they cut back on police he forces they are running out of money question whether they have money to keep themselves going whether federal government is going to support that focus should be an Capitol Hill White House not so much fed in terms of next round of surplus there probably will be another round of stimulus. And that is one of the areas are of growth, Johnny Courtney in terms of Jobs Construction only going to pick up speed if in fact we have some kind of infrastructure package, materialize. I think we are going to see jobs come back in in construction i predict manufacturing to be one of the strongest we are seeing Many Companies rethink their strategy, of how they manufacturing in foreign countries, and certainly with what is happening in china. So were going to see more manufacturing come back to the United States. And that is going to create more manufacturing jobs which will be very good for our economy 37 i have to say one other point in this report we havent talked about yet, is the temporary help jobs, they came back very strong. 150,000 jobs were created in that sector. Will the that is a sector certainly in that industry, but i watch that because it is always a leading indicator. It tells us if companies are start to bring back temporarys they have brought back permanent staff now need more people to get the work done. So that is also a very good sign for our economy. Yeah, i think we should look at the revision here as well charles, because we focus on revisions a lot look at how they he revised may there is additional 190,000 jobs, added, when you look at revision that happened in may. So youve got good numbers a string of good numbers here, about in the last couple months, and it is important to recognize, what is going on with revision like yesterday that revision was down to up, charles. Really is a remarkable, by the way, abc number telegraphing pretty good lately few things to pick up on, last month when we got together the first question asked the President Trump why black Unemployment Rate goes up to 16. 8 from 16. 7 it was in media, throughout that week, weekend over time all we heard or suggestion was that black americans did not participate in the big jobs recovery, in the main market when that was a lie. 283,000 black americans got jobs. This past month 404,000 got jobs, so, you know, i want to take out 24 notion that one group of people is being left behind delivered demonization of numbers, to stoke animosity fare hatred anger in this country when we need the exact opposite a great news for all americans, same tide lifting all ships may be not same rate but we are participating doing better, also another great thing, people who have duration of unemployment less than five weeks a Million People came off that less than 14 weeks, 3. 3 Million People o so four million folks just unemployed a very short period of time they told folks who asked are you for or up employed you remember a couple months everyone kept saying people dont know never going to get jobs back, 4. 4 million of them did last month. Nae, all right that is a good point you do have, pretty broadbased job creation, certainly in this group, of he cross various ethnicities Edward Lawrence is Edward Lawrence still with us i want to ask edward if any guidance in terms of in terms of the Hourly Earnings, so we did see Hourly Earnings drop for the month, but yearoveryear theory actually up 5 edward. Yeah, that is right that is because the folks who lost the jobs, in this the lower the lower income workers, now starting to gain back which is why you are seeing that start to come down the average hourly work average hourly wages, why you are starting to see that come back down that is a number that Federal Reserve wachdz for inflation fed believes no indication inflation on the way this is workers at lower end lower income coming back into the workforce, and starting to see that, in this jobs report. You you nonfarm payrolls a record steve moore at 4. 8 million jobs how worried are you 24 gets interrupted the momentum gets interrupted, given these slowdown, reversals of reopenings across the country with spikes that were seeing . That is big worry right now i know biggest worry for folks in the white house as well, if we do start to see a trend, where businesses are forced to shut down again god forbid, that i think i just think would be a disaster for the economy, and we can find ways i mean we know so much more about virus today than three a months ago, we can find ways, i believe, to keep businesses open, in a safe effective way with masks, social distancing, but i want to make one quick point if i may i get criticism last when we talked about these jobs numbers because i said when we had blockbuster number maybe we dont need three there would phase four plan i am going to say that again we do not need to spend three trillion dollars i believe that would be negative for the economy, what President Trump should do is the payroll tax cut steve forbes art laffer pushing that on your are show if you have that in combination with momentum we have now you dont need a massive new spending bill approaching 50 gdp in terms of government spending. Yeah, not only that, but the debt that were talking about, keeps on coming up, it is now very close to the actual size of the overall economy. At 22 trillion dollars, are i want to thank Charles Payne Jon Hilsenrath we will see the you soon the panel staying with us to talk about protects yourself against covid19 zero in have a close er look at when masks are best dr. Mike will answer those questions next stay with us. Maria welcome back. From bandannas to surgical grade masks, face coverings are part of life for Many Americans but how effective are they is up for debate. Joining us now is dr. Mike. Thank you so much for being here. I see silk scarves around peoples mouths, i see cotton around peoples mouths. I mean, i dont know which masks are actually most effective. Which masks are best in protecting us from covid19 . Good morning. Thank you for having me. I want to commend you, first of all, for encouraging your viewers to wear these masks because while they are uncomfortable, they are not really pleasant to wear, wearing a mask decreases the spread of this virus and thats of utmost importance for Peoples Health and the health of our economy. So please, if you are going outside in public where you are going to be around other people, wear a mask. It doesnt matter if its silk, cotton, surgical grade. What the purpose of the mask is, is to limit the respiratory droplets that you put out into the environment so by you wearing a mask, you are essentially limiting the spread to the community. So if you see someone wearing a mask around you, you should really be thanking them for bearing that uncomfortable mask around their face in order to decrease the amount of respiratory droplets that are being put into the environment. Maria so is it protecting me or is it protecting the people around me . Its actually protecting the people around you. So its beneficial for more of us to wear it. If more of us wear the masks, there will be less virus being spread. Wearing a cloth mask does really little to protect you from the virus but it does a really good job at decreasing the spread of the virus into the community. Thats why we need everyone to wear the masks. Again, i know they are uncomfortable. I know this is becoming a politicized topic but it shouldnt be. We all want the same thing. Less deaths, less illness, the economy to come back. Maria thank you so much. Thank you, brian, joanie, great show. Have a great day. From all of us, happy independence weekend, july fourth upon us. That does it for us. Varney Company Begins right now. Ashley webster in for stuart. Take it away. Ashley thank you very much, maria. Good morning to you. Good morning, everyone. Stuart, by the way, off today but america as a whole is getting back to work. 4. 8 million jobs added in june, a blowout. That in addition to the 2. 5 million added in may, you could say the jobs are certainly coming back. In the next hour, President Trumps top economic adviser larry kudlow will be here to talk about the recovery, the reopening and a possible confrontation with china. As for