And social change and the impact of racism and economic growth. Its monday, june 15th and youre watching Worldwide Exchange right here on cnbc. Well, good morning, good afternoon, or good evening and welcome from anywhere in the world that you might be watching thank you for starting your week with us here on cnbc if your just joining us or waking up you might want to grab another cup of coffee. Dow futures are off their lows but theyre down 630 points right now. A couple of hours ago, dow futures were down 1,000 points all the indexes indicating a loss at the open again, a 2 drop right at the open now well see how that plays out certainly a lot of red on your screen right now lets move on. Dow futures again down 535 lets also check the etf that tracks the major averages because that is subject to different moves in the futures overall. Right now it looks about the same but we got in earlier and it looked like the possibility of limit down in the futures you want to look at those etf and 1. 83 but the dow will bear the brunt of the loss today. Its on concern that state economic reopenings could slow down if case Growth Continues to accelerate that is also taking down the price of oil its down about 3 people get nervous and maybe slow their going out, slow their driving, maybe reevaluate some plans. Demand could drop and supply will strike again. Bp will write down 17. 5 billion in assets and lowered Price Expectations through 2050 again. This mornings market moves after another rough week on wall street and the dow closing down 5. 5 last week the worst week since march 20th. Really during the height of the pandemic fears we have a lot to talk about around the world not just here. Red arrows everywhere europe and pull back in asia overnight which is where the fears begin over the weekend with a burst of new cases in beijing matt taylor is standing by in singapore with more. Asian markets struggle from the getgo this morning on the back of the news coming out of beijing about the possible second wave of infections there but then as we saw the u. S. Futures move sharply lower we did see asian markets sell off late in the day. Take a look at the numbers because japan is down by 3. 5 . The kospi in south korea down by almost 5 and it was the worst day for that market since march 23rd back when we saw the markets hit the lows earlier on in the year when it comes to japan, the bank of japan is hitting it and down 3. 5 and the kospi down by 5 and were also watching disappointing Economic Data to come out of china as well as industrial output rising in may year on year that was below the expectations. Around about 5 . Retail sales, also weaker than expected declining by 2. 8 . The expectation had been for a decline of 2 . Better than what we saw in april when retail sales were down around about 7 ment all in all the china Market Holding up. Down by just over 1 thank you very much also new this morning, concern over rising hospitalization in some u. S. States. More on your top headlines to start this week. Good morning to you youre absolutely right. Originally not a primary u. S. Hot spot for the virus over the weekend alabama reported a Record Number of new cases for a fourth day in a row. Arkansas, california, reporting Record Numbers of new cases over the past three days as well. A spike in cases could be related to increased testing whats more troubling for officials is the hospitalization rates with arkansas, North Carolina, texas, and utah all reporting a Record Number of new cases with covid19 entering hospitals as of saturday in South Carolina for example, 69 to 7 of hospital jobs occupy on the region. In washington they continue to try to get americans back to work despite the spike in new cases. Larry kudlow said current Unemployment Benefits are an incentive not to return to work. Thats above the state Unemployment Benefits that theyll continue to receive is ineffect a disincentive. Were paying people not to work. Its better than their salaries would get and that might have worked for the first coup of months, it will end in late july adding the administration is considering a type of return to work bonus that could push more people to get back on the job and Dallas Federal Reserve president is speaking out about systemic racism and high unemployment levels among black and hispanic americans kaplan said a more inclusive economy where everyone has an opportunity will mean faster work force growth and faster productive growth and will grow faster fed chair also saying some similar comments. Frank well see you in a bit buddy. Thank you very much. As we noted back to the markets, futures point to the open down 658 right now. Setting us up for another week he is the chief investment officer. And he is with us now. Good morning, i think, given the futures market you remain optimistic and it seems like the market really does turn when we get a tick in cases or percentage jump or hospitalizations rise or like this news out of beijing about kind of a relock down. A small part of the city and the market has hinged on this health date stock prices have been too high when we get stock prices dropping, everybody says who wants those. This is never going to be a linear process on the way up theres going to be set backs along the way. Im still very constructive. I dont think this changes the outlook at all on the economy or the markets. I think youre going to see a turn in the economy by the Third Quarter toward the upside but were right in the quarter where the data is going to be the worst but again, thats the time when you want to be buying because were in the early phase of the new bull market im very confident of. The areas that you want to focus on are the small cap stocks. Thats when youre coming out and entering a new phase absolutely. They have been hit harder at least rebounded less than the overall market is because they are domestic if we see more virus fears here in the economy and step back a little bit from the reopening and say hold on a little bit here, wouldnt the Domestic Companies get hurt worse . Not necessarily first of all theres a lot of industrials and financials in addition to health care and technology when i was with you last i talked about what is going to help us recover here is technology and health care i firmly believe thats going to be the two areas that are most important because those are the solutions to the problem we have had a forced adoption of technology as we are all working from home. And health care is where all the innovation is going to be. And were seeing the largest expansion of health care as we look for cures and therapies but beyond that, were seeing very early signs of dramatic broadening out of the stock market chris is seeing this in his Technical Work and were seeing it in our own work as Many Companies that were some what left for dead are starting to see some activity and that is a great early indicator for out performance. I could see between now and the end of the year, the russell 2000 some what catching up to the s p 500 because thats been happening over the last six or seven weeks or so but then in 2021 i could see the russell being the leadership place to be remember, unlike the s p 500, its peak wasnt until what was the Fourth Quarter of 2018 not february of 2020 like the s p 500. And theres a lot better valuations for it within the russell that doesnt exist in the s p. So we had almost a two year period where the russell really hasnt participated at all and its time for those stocks to assert therm assert themselves and i believe that well see the russell be the leadership area. We already have dollar weakening and credit spreads normalizing make the case and stay calm and invest on. Thank you for joining us on this market big market day appreciate it, buddy. Thanks. When we come back, the one issue likely keeping Small Business owners up at night as they work to reopen their stores after months on lock down. Kate rogers is up next with the pulse of main street plus much more on this mornings look like a sell off dow futures down 700 but a quick look at the biggest premarket decliners out there as we head to a break on big market monday. Were back right after this. Need better sleep . Try natures bounty sleep3, a unique trilayer supplement that calms you, helps you fall asleep faster and stay asleep longer great sleep comes naturally with sleep3. Only from natures bounty. Thats where i feel normal. S an hour, 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 geh. Common bird. E. 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. Welcome back dow futures down over 2 right now. Lets check out the etf to track the major outages. The futures were not as down as they were. They were off about 1,000 points a couple of hours ago. A bit of a reversal on that. As cities and states begin to ease stay at home restrictions, businesses on main street are starting to reopen their doors but many have concerns about potential liability lawsuits around the virus more on this important side of the story. Good morning. Good morning, the u. S. Chamber of commerce and 200 other trade groups sent a letter to Congress Asking them for temporary and targeted relief legislation that would be relief for the pandemic it would be for businesses and nonprofits that follow Public Health guidelines and will protect Companies Among other threats. He owns a Firehouse Subs location in North Carolina his workers are Wearing Masks and gloves and theyre washing their hands for every 15 minutes and also those 6 feet social distancing in place and one lawsuit could come in and wipe out business. Were doing everything the state has asked. Were doing above and beyond some of what the guidelines are. Theres no way to prove or disprove that someone did or did not catch it in any particular location that scares a lot of Small Business owners like myself and fellow Restaurant Owners the International FranchiseAssociation Says it tracked 1,000 lawsuits around the country against businesses tied to cov irgsid but for lawmakers theres really no easy decision here cnbc and change research and theres a real split when it comes to liability and covid businesses should be protected against liability claims and then nearly half think that workers and customers should be able to sue a business over covid exposure what can you do. Its basically divided half and half and youre a really tough decision back over to you is there any expectation that in the bill or the package theres going to be liability wavers written into that. Were not going to look at stimulus that doesnt have some kind of businesses and doctors as well and its a really tough call, back over to you kate, thank you very much all day here on cnbc. Well, speaking of Small Business, still on deck, a closer look at one sector some call the key to getting america back to work that is child care were going to speak with one ceo with franchisees and the families they serve. Todays big number, 110. 79 trillion thats Household Network during the First Quarter of the year according to the federal reserve. Down 5. 6 . The largest single quarter drop on record. Ertain of. The men and women of the United States postal service. Were here to deliver cards and packages from loved ones and also deliver the peace of mind of knowing that essentials like prescriptions are on their way. Every day, all across america, we deliver for you. And we always will. Can i find an Investment Firm with a truly longterm view thats been through multiple market cycles for over 85 years . With capital group, i can. Talk to your financial professional or consultant for investment risks and information. Talk to your financial professional or consultant okay, give it a try. Between wisdom and curiosity, theres a bridge. Between ideas and inspiration, trauma and treatment. Gained a couple of more pounds. Thats good for the babies. Between the moments that make us who we are, and keeping them safe, private and secure, theres webex. Beautiful. All right. Welcome back and good morning. Stock futures are solidly in the red right now. The dow futures indicating a drop of 670 points at the open a little off the lows. Down 1,000 at one point. That futures volatility should increase around 7 00 a. M. Eastern time and those are premarket moves. Lets get a check on other top headlines outside of the world of business. Theres so much going on we start with a new wave of protest in atlanta after a Police Confrontation turned deadly a medical examiner ruled the death a homicide the 27yearold was shot twice in the back friday night while police were chasing him in a wendys parking lot during an attempted arrest one officer has been fired another is on administrative duty and atlantas police chief has resigned. The citys top prosecutor is expected to decide if charges will be brought against the officers governor andrew uomo is warnin new yorkers against triggering a second wave of coronavirus the state received 25,000 complaints of social distancing violations and people not Wearing Masks at bars and restaurants at the top of the list and the Major League Baseball association rejected mlbs latest proposal and will not counter. They should order a return to work that will likely spark a lengthy legal battle the Sticking Point here, is how much players should get of 4 billion in salaries. You have nascar action and golf action over the weekend to tie us over the best we can. Yeah. Get the fans back at some point i guess carefully and slowly francis, thank you very much all right. Still ahead, much more on this market volatility and what it means for some of the high flying tech stocks the big names that you know as apple gears up for its Worldwide Developers cop frenference in a different way. Gene munster is here to weigh in were back stick around thats been through multiple market cycles for over 85 years . With capital group, i can. Talk to your financial professional or consultant for investment risks and information. With spray mopping to lock away debris and absorb wet messes, all in one disposable pad. Just vacuum, spray mop, and toss. The shark vacmop, a complete clean all in one pad. Try natures bounty sleep3, a unique trilayer supplement that calms you, helps you fall asleep faster and stay asleep longer great sleep comes naturally with sleep3. Only from natures bounty. You say that customers maklets talk data. S. Only Xfinity Mobile lets you switch up your wireless data whenever. I accept 5g everybodys talking about it. How do i get it . Everyone gets 5g with our new data options at no extra cost. Thats good. Next item corner offices for everyone. Just have to make more corners in this building. Chad . Your wireless your rules. Only with Xfinity Mobile. Now thats simple easy awesome. Switch and save up to 400 a year on your wireless bill. Plus get 200 off a new Samsung Galaxy s20 ultra. Set for a sell off, stock futures pointing to a sharply lower open after wall street logged its first down week in a month. Investors on edge over rising cases and hospitalizations across the American South as china imposes new lock downs after a surprise spike we are life in beijing and the path forward for daycare one chain responsible for nearly 30,000 children is taking on the crisis its monday, june 15th, 2020 youre watching Worldwide Exchange right here on cnbc. Starting your week with us here on cnbc we begin with breaking news. A lot of red there u. S. Stock futures to a sharply lower open off 630 points right now. The dow, s p and nasdaq futures all indicating a drop of 2 at the open you could see that dow markets could open about 565 so we have seen a bit of a change thats how fast it goes folks. Put it this way, two hours ago dow futures were down 1,000. They were down 300 when i went to bed last night. Youre seeing a lot of volatility in the futures. And well talk about some of the etfs that also track the market moves too because earlier we were talking about dow futures down 1,000 not the case anymore but that is not subject to the rules and that is premarket move off about 2 again, dow coming off a week when we saw the first week since the height of the pandemic, march 20th dow losing about 5. 5 . Its not just stocks and also taking it on the chin after snapping a six week winning streak oil is down just about 2 . So again, off of its lows it was down a short time ago. Were seeing the markets bounce around trying to find footing on this monday morning. All of this coming off a very rough week for wall street dow closing down 5. 5 . During the height of the pande