The s p 500 and nasdaq did break a threeday winning streak, so closing both lower today. We got data on jobless claims. Really awful. It goes to show you that the wall street recovery since those march lows, up 40 as you just noted, melissa. It is really outpacing main streets recovery. If you look at continuing claims here topping 21 million, it suggests that employers have been slower to hire back furloughed workers. Lets talk about the retailers. It is a particularly painful time for them. Hit first by the pandemic and now damage from the protest although you wouldnt know that from some of the retailers stock performances were seeing today. Take a look at nordstrom. It is up almost 10 . I want to Pay Attention to the gap here. Higher today too ahead of earnings any minute now but they did get hit by a lawsuit, Simon Property group because they hadnt paid their rent. Also the nasdaq 100. It did touch an intraday record high. It has since pulled back as Big Tech Companies pulled back. We see the rotation continue out of technology and some other virus winners into the more economically sensitive parts of the market, particularly the banks. The banks were winners today, firmly in the green. Citigroup up 4 . So was wells fargo. I want to show you stocks hitting record highs. Restoration hardware, speaking of retail. Winnebago, paypal, ebay which raised Current Quarter outlook because business is growing faster than ebay expected. I want to flag this tweet from elon musk, tesla and spacex ceo. About an hour ago he tweeted, time to break up amazon. Monopolies are wrong. Here is the backstory that was in reference to a notification that amazon refused to publish a book by musk fellow coronavirus doubter, former New York Times reporter alex berenson. The book questioned models used to predict covid19 and amazons move was seen as censorship, more censorship coming from silicon valley. But after elon musk and others spoke up, it looks like amazon, according to mr. Berenson will publish that book after all, but, jeff bezos, amazons ceo, elon musk, tesla ceo, they compete in a lot of areas. Space, electric vehicles and, well, now were talking censorship essentially. That is how it, elon musk tweet read to me when i first got the notification. He also promised he would stay off twitter. Remember that . It lasted two days. Melissa i do remember that yes, i do remember that. Thanks, lauren. Now to blake burman who is live at the white house. Reporter melissa we are set to potentially here from President Trump later this hour as he will be signing an executive ordealing with the permitting process and regulatory burdens at least as this administration sees it as comes along with all of that. Let me give you top lines from the executive order as ive been told by a Senior Administration official t will direct federal agencies to accelerate economic recovery by improving infrastructure. It will call things like expediting highway construction and civil works projects under the purview of the army corps of engineers along with accelerating projects on federal lands. Those are some of the things that the west wing over here, the president can try to get control of. You remember, melissa, about this time yesterday we were anticipating a meeting between President Trump and his Economic Team to go over the next step relief measures as it relates to relief for covid19. We can can tell now that meeting between the president and his Economic Team has happened. I was told, if youre wondering what might have come from it, that no decisions were made by the president at this time. At this point the white house is still sort of working through some of the main options they are looking at to see what they might potentially put forth next. Weve heard from democrats and what they want to do. Still though over here at the white house theyre working through all of that and as it was said to me earlier today, it is a policy process at this point and many options as weve heard before, are still on the table. Melissa . Melissa wow. Blake burman, thank you for that. Connell . Connell more now, melissa on trying to get workers off the sidelines. New report out today from the Congressional Budget Office finds roughly five out of six recipients of jobless benefits received more money than they could expect to earn from regular work if those benefits are extended for six months. Dan mitchell joins us, center for freedom and prosperity where he is chairman. You will hear a lot about this debate, dan, over the next number of weeks and maybe months, in congress, they dont really have that long, until the end of july when they expire. The extended benefit though, earning more money staying home on unemployment than going to work. What is your view whether we should have an extension, given what were learning here today from the cbo . If youre paying people more not to work, then they get if they work of course youre going to have higher levels of unemployment. Im baffled that this extra 600 a week was ever put in in the first place. I guess it was like a coronavirus bonus or Something Like that but now that in theory were beginning to open the economy back up again, we need to get labor and capital back being deployed to generate prosperity and restore growth for the american economy. If politicians extend this program, give people not only unemployment benefit but extra 600 a, that is unquestionably a recipe for higher unemployment. David so the other finding of that cbo report democrats are pushing hard for extension. That is why the report was commissioned. They want to extend it until january of 2021. The other finding was they found that the average amount spent on all kind of things, food and housing other items, goods and services it would be closer to what people would spend if they were employed if the benefits were not extended which i guess is kind of obvious. I guess the question, dan is, can you make the case for extending the 600 saying that will help the overall economy or simply doesnt work that way . Well it depends f youre a keynesian economist and you think that the government can take money out of the left pocket and put money in the right pocket, somehow more spending in the economy, yes, giving people extra money to be unemployed is a form of quote, unquote stimulus. Remember way back during the obama years when nancy pelosi said giving people unemployment benefit was great stimulus. In fact paying them not to work. By the way, during the obama years, we had this exact same fight. Obama wanted extended Unemployment Benefits. The republicans in Congress Finally said no. So in 2014, those extended benefits went away. What happened . People went back to work. If you pay people not to work, theyre knot going to work. It is just that even by washington standards its crazy. Connell weve heard it a lot. Spent a fair amount of time the last few weeks talking to Small Business owners. We started to hear that, in the Restaurant Business i heard it a bunch. We want to get people back but theyre making more on unemployment. So it is a challenge for us. The other thing i read, put your political hat on as final question, some of the republicans who might be inclined to vote against this, many probably will, but some are concerned about the politics, at least part of what were seeing in terms much the protests is driven by, you know, people who are out of work. Theyre inspired by the economic problems that theyre having rand republicans might be reluck tan to vote against, you know, take away Unemployment Benefits essentially or extension of those people. What do you think . What is the old saying we her as kids, idle hands are the devils workshop. People are sitting around doing nothing. Some will take advantage of that to misbehave. Again, i want to harken back we went through this exact same debate where republicans back in the early part of the last decade were very nervous about ending extended Unemployment Benefits, oh, you want people with longterm joblessness to suffer. Turns out once people werent being subsidized to being unemployed they went back to work. If you really care about the economy, if you care about people having dignity of work, if you care about getting anything close to a vshaped recovery we need to make sure when we hit july 31st i believe it is, we need these extended, supercharged benefits to go away. Connell so if they go away, you think a vshaped recovery is more likely, is that what youre getting at . Well get closer to that. There will be longterm damage from some sectors of the economy simply because the consumer nervousness. Movie theaters, cruise ships. Major sporting events. Some things went go back to normal very quickly but we obviously want to get as close to a vshaped recovery as we can. We dont want long, lingering jobless recovery like we had under obama. Connell again this will be the debate over the next month probably since were already into june you will mare about in the congress. Dan mitchell always good to see you. All right, a sign of optimism during trying times after months of lockdown new york city unveiling plans to use open space to provide City Restaurants with more Outdoor Dining areas. Phase one of reopening planned for monday but after recent turmoil can Small Businesses bounce back . Were going to have more details on that this hour. Plus a path forward in the sports world. The nba is approving a 22team plan for restarting the season at the wide world of Sports Complex at disney world in orlando in july. This is according to the associated press. Whoohoo. Introducing new voltaren arthritis pain gel, the first and only full prescription strength nonsteroidal antiinflammatory gel available overthecounter. New voltaren is powerful arthritis pain relief in a gel. Voltaren. The joy of movement. Melissa powerful moment for a family in a nation in mourning. A Memorial Service for george floyd being held in minneapolis as another night of protests are expected. Steve harrigan is on location with the latest. Steve . Reporter it was an emotional two hours. More than 1000 people inside, invited guests and family. Thousand those more out here on the street. They are now chanting george floyd. It was a real mix after ceremony. In part a celebration of life, in part a funeral, in part a political rally. A real range of moods inside. Some real anger from the reverent al sharpton, hit theme having a knee on their neck. How africanamericans for 400 years are v had a white knee on their neck. Hope that times had changed. Speaking family attorney ben crump. Here is what he had to say. Torture that they witnessed on that video. We cannot cooperate with evil. We cannot cooperate with injustice. We cannot cooperate with torture reporter weve seen a real range ever emotions here in minneapolis over the past 10 days. Four, five days of Serious Violence and fires, followed by arrival of the National Guard and the mood has changed dramatically just over the past 48 hours with the arrest of the other three officers involved in the arrest of george floyd. Also upping the charge to seconddegree murder. That has calmed things down considerably. Those four officers appeared in court this afternoon, the new three, and it really raise as possibility of a maximum sentence for seconddegree murder to 40 years behind bars. Melissa, back to you. Melissa wow. Steve harrigan, thank you. Connell . Connell switch back, now, melissa to here in new york. Thousands of people gathering in Brooklyn Today for a vigil honoring george floyd. More peaceful protests underway during the day here in new york. This comes after three new York Police Officers were wounded in an unprovoked attack that took place last night. Thats been the thing day versus night. Kristina partsinevelos is live for us at an nypd precinct. She is in times square this afternoon. Kristina. Reporter connell excellent to point out the difference between the day when things are usually very, very peaceful versus the evening. There was over 180 arrests yesterday. Overall nypd weve spoken to, officials here in the city said it was relatively diminished chaos and less damage than weve seen over past few days. However, like you mentioned it wasnt a case unfortunately in an area in brooklyn. Thats when one Police Officer was stabbed in the neck. We have a picture of that knife. It is the alleged knife used in that situation as well as two other officers that were shot. So all three were injured. Theyre expected to make a full recovery. The suspect is in custody. Theyre still looking into any kind of link with the protest. But you had mayor de blasio just today speak about this particular incident against those nypd officers. Listen in. Absolutely unacceptable to attack a Police Officer in any way, shape or form. We will not tolerate it. There will always be consequences. It is not an unfair action to say, in the context of crisis, in the context of curfew there is a point enough is enough. Reporter enough is enough for a lot of the businesses here in new york city. That is because of the damage caused by looters. Some situations, theyre looking into investigating whether bricks are being used to ruin a lot of the property here. Nypd commissioner did tweet out this. This is what our cops are up against, organized looters, strategically placing caches of bricks and rocks in locations in around the city. I went to 12 different Brick Companies or suppliers here. Nobody has been able to corroborate that story. What i noticed here in new york, you have definitely seen all the garbage cans removed around the city. Very hard to throw out anything. You mention what is happening in brooklyn right now. We have live shots of that. There was the second memorial for george floyd. A cross over there. Theyre expected to cross over the Brooklyn Bridge but there is already a Group Gathering a little bit more further south. Im now moved to times square because we just noticed that the entire area around here has been blocked off to oncoming traffic. That is because the protesters are entering this area just behind me. And so were expecting and were hoping for the best. It seems to have been improving every single night. Protests continue to get the message out to End Police Brutality and systemic racism. Back to you guys. Connell Kristina Partsinevelos in new york for us. Melissa . Melissa meanwhile we have seen chaotic scenes in new york city as looters were damaging businesses that were struggling to stay open during the coronavirus pandemic. All this as the city was starting to get phase one reopening which was supposed to kick off on monday. Here now is bill mcgurn of the wall street journal. He is also a fox news contributor. Bill, one thing ive been noticing out for a run in my neighborhood, the places hit, who had their windows smashed in, people go inside and steal stuff were businesses that were open in part during the pandemic. So the ones that were shut down forever, for at least, you know, for the pandemic people understood there was nothing inside but there was a restaurant. There was a liquor store. There were a couple of Different Things where they had been doing, takeout an delivery and the, you know, rioters an looters understood they had been open. So there was stuff inside and its the same on every block up here from what i can see with my own eyes. What does it mean for the reopening that weve hit these businesses right as we were supposed to really start . Well its terrible. So many of them were struggling to survive, with even ones, restaurants for example, doing takeout. It is a far reduced income, revenue from what they had before. That is implications for how many people can work there. It is no bargain for the governor and the mayor to okay say, you can start reopening your restaurant outdoors but were not going to keep you safe. I mean, and i think, what youre mentioning speaks to another aspect of this. Yes there have been big outlets like macys, that have been looted and so forth, but the real harm are to Small Business owners, dont have that much money, that operate on thin margins, bodegas and i think governor and mayors should take tours who are hurting and, first right is protect innocent. First responsibility of government. They need to start doing that. Melissa it is also, when they talk about letting restaurants have more outdoor space to open up. Right. Melissa this is new york. Like we cant open in our parking lot. That is what a lot of businesses in florida and like are doing, putting tables out in the parking lot. There is no outdoor space. That is the whole point. It is a city. Were in buildings. Maybe you can put a few tables along the sidewalk. What is that along a storefront, maybe four tables . How much could that help . You can do some things as stopgap measures, better than nothing but it is not going to bring a business back to the full capacity. Look, where i am in the suburbs, there is a man in my town that runs the coffee shop, coffee newsstand at the train station. No one is taking the train. They closed down where his shop was. He is moving to a table on main street. He is getting nowhere near the same income he did before. There are dozens of people just in my town just like that. Im sure all across the state. People are really hurting. And if the, if the cities cannot guarranty their security, it is really, it is really going to be a different ball game once we come back. You know, so, if you go back 50 years, riots like 68, some cities are, or parts of cities never recovered. Yeah. Well, and one of the factors was for manhattan, for the new york area, we were under the impression we had to work here if we wanted