Live from the bronx. New york city is finally starting to reopen its economy. Were exactly 100 days of the first covid19 case being confirmed in this city. It is a good day, good news for many Small Business owners but it also might be quite challenging. Remember this city was hit hard, more than 200,000 coronavirus cases, over 20,000 deaths and no part of the city had it worse than the bronx. Now you add to that the looters who took advantage of the George Floyd Protests last week and wiped out many of the momandpop shops in that area before they could reopen. Beverly hills furniture, where we are today, this store was one of the ones wiped out t was really hit hard. Coming up you meet the owner. Hear about the terrible night youre looking at in surveillance video. That was one week ago tonight. You will hear about the plans they have in the business to get it back up and running, even if that takes a little bit longer than anticipated. They were really hit by the looting. Look around this neighborhood. A ford ham section of the bronx. It is starting to reopen. Many businesses are still boarded up. The looting was rough in this area t was really last week. We talked to a lot of Business Owners today. Just about every single one of them said they support the george floyd protesters, the peaceful ones but what they dont support are the looters and looting. Now theyre just trying to figure out a way to get back up on their feet. Weve been trying to reopen but you know, we dont have really inventory here. So were trying. Were struggling right now. Were trying to get help again to go back up. It is really hard. Hard to bet inventory back up in the store. Were trying. Slowly were trying. Were staying open. It is very sad that the police dont do nothing about it to protect us. Down the block there was a store, Sneaker Store and they broke into. The Police Officers were there on the corner and, they didnt arrest the people. They were looting and all they did was let them go with the merchandise and i dont feel protected. Connell so that relationship between the community and the police will be part of story. As they are talking about Police Departments around the country to lose funding. Well talk about it on the show as this continues. New york city Business Owners are fighting through all kinds of obstacles to get their stores open again. It is reopening day here finally in new york city. Jackie, over to you. Jackie finally. Amen. Lets bring in todays panel. Gary kaltbaum, from kaltbaum capital management. Adam lashinsky. Fox news contributor. Gary, markets are marching higher on optimism about the reopening, optimism about the economy, a blowout jobs report last week but these are big clips were moving higher. Some say that is going to peter out in some time, eventually you will see gains but it will be slow and steady. Your thoughts. Great to see you, jackie, that would certainly be my view that the market has gotten way ahead of itself. Yes things were better than a week ago. Things were better than they were a month ago. There is real damage to the economy. There are is some serious physical structural damage. To assume things are getting better, restaurants are operating at partial capacity, that more Airline Travelers are flying, to assume that means it is happy days are here again i just think is naive. Jackie geir i are, your thoughts on the market and investor reaction to everything were seeing. Also investors looking past at some of the civil unrest as well in reaction to the death of george floyd and looking forward and just sort of focusing on the business side of things . Well i agree with adam that a lot of things are not going to come back so quickly. Were talking markets, that is a whole different animal than the economy. Not only are we coming back and now if new york citys opening up that means everywhere else is going to but you have zero percentage interest rates. You have a central bank printing 8 trillion. Europe announced 1. 3 trillion. And markets love liquidity and markets love positivity and that combination is working on right now. I have to tell you, i think were going much, much higher in the markets throughout the rest of the year. Yes, were going to pull back soon. Weve gotten a little too frothy but i leave no doubt in my mind, i think something here and last week 85 of the market that was basically dead, that is the airlines, cruise lines, energy, economically sensitive stocks, shot out of a cannon here and i think there is just going to be plenty more to go as we move forward. Jackie gentlemen, stick around. Connell . Connell all right. Jackie, lets go to the white house where President Trump just wrapped up a roundtable discussion with representatives from the Law Enforcement community. Blake burman covering that for us and joins now. Whats the latest, blake . Reporter hi there, connell. The future of policing the focus here in washington today. You were showing some of that video if we go back to it real quick as it is playing out now. President trump sitting down here at the white house moments ago with members of the Law Enforcement community. This coming as Congressional Democrats today put forth what theyre calling the justice and policing act. Now that bills among many other items would lower the bar for what is qualified immunity. It would ban chokeholds at the federal level and require Police Across the country to undergo mandatory training for discriminatory profiling. The reform measures comes as some democrats are pushing the idea of defunding some Police Departments. At this event moments ago we were seeing images of, the president deannounced the idea of Defunding Police. He also punctuated that in a tweet earlier today, writing the following quote, this year has seen the lowest crime numbers in our countrys recorded history and now the radical left democrats want to abandon and defund our police. Sorry, i want law and order. This afternoon White House Press secretary Kayleigh Mcenany said the president is appalled by the idea of Defunding Police and doesnt believe resources should be shifted elsewhere. That means cutting of police. That means reducing Police Departments. That means defunding Mission Departments if not getting rid of them entirely. No he have does not agree with that, the rest of america does not agree with that. Reporter joe biden today came out against the idea of defunding the police but he also questioned President Trumps vision and leadership saying in a tweet, quote, were facing some of the greatest challenges in our history and donald trump is patting himself on the back. He has no idea what is really going on in this country. Time for hymn to step out of his bunker and look around at the consequences of his words and actions. Connell, back to you. Connell blake burman on the north lawn. Point out well have more on that topic, Police Reform a little later on in the show. Jackie. Jackie now to Edward Lawrence in washington with the latest details on the coronavirus situation, unemployment relief as well. Edward, over to you. Reporter you know, jackie, the focus is shifting it seems with republicans. There are some experts out there saying we dont need another round of spending. White house Economic Advisor larry kudlow says the two sides will not talk about the next economic package until after july 4th. Senator tom cotton alluded maybe even longer than that, listen. There are still millions of americans out of work but the report we saw on friday defied expectations of so many experts that shows why we ought to continue to see how the cares act works throughout the month of july and where things stand in about a month. Hopefully most states and cities will be open back up. Reporter where things stand in about a month. Both sides say the payroll protection problem was a huge win. They said it kept 50 million americans in their jobs. White House Press Secretary says the president is open to another round of economic package, economic stimulus, but he says it must include the payroll tax relief, payroll tax holiday to get money in workers hands right now. It also could have Something Like tax breaks for restaurants or business dinner writeoffs for entertainment or business dinners. House Speaker Nancy Pelosi says another round of direct payments should happen to americans. She wants to expand the food stamp program. Also payments directly to states. Senator Chuck Schumer says another package should be passed i fear that the recent bump in the employment number caused in large part because of the stimulus money we pumped into the economy will create in republican as sense of complacency and the economy will get even worse. Reporter bottom line youre starting to hear from republicans make we dont want to add more to the deficit and see whats out there is working as the main Street Lending facility from the Federal Reserve is just going to get started running soon. Back to you. Jackie edward, thank you so much. Gary and adam are still back with us. Gary i want to start with you because there is no doubt a lot of these programs did help so many people during the coronavirus pandemic and one of the reasons the economy is getting back on its feet and starting to move forward as we reopen but a lot of folks are saying we may not need to pump more money into it. Remember we have to pay the money back at some point. If businesses are getting up and running maybe weve done enough . The more people that get back to work the less people that are going to need largess from the government. It is simple logic at this point in time and i happen to believe we just started a trend where were going to see more and more news like today where Dunkin Donuts announced 25,000 people going back to work. I think you are going to see tons of people heading back, not withstanding a reacceleration of the virus f the virus goes away, continues to stay away i expect gargantuan numbers over the next six months as business gets back to business. As i said earlier it is very important. New york city getting back the most dead city in the country, tells you that other cities across the country are going to be fully back and then new york city follows suit. Im bull lush on all of this. Bullish on all of this and i hope they dont send too much at this juncture. Jackie adam, your thoughts, some folks out there say additional Unemployment Insurance for example, needs to be reduced or maybe go away. You dont want to disincentivize people from getting back to work . Well i think that is generally true. I was listening to gary, i was thinking i could respond with a few facts. The virus has not gone away and will not go away in the next six months or so, we know that we do know however the cares act provisions will expire. We also know there will be a election in november. As i was listening to Edward Lawrence what secretary mnuchin is proposing he wants certain thing, schumer and pelosi wants certain things, the president doesnt want to go into november saying he didnt support economic measures when the cares act expired. So all of the body language im reading there, we will have more relief, more aid. Jackie we shall see. Gary kaltbaum, adam lashinsky, great to see you both. Thank you. You too, thank you. Jackie meantime we have a fox business alert. Tesla and amazon both closing at new record highs. Tesla citinging a rebound in chinese sales jumping in the may for the First Time Since june of 2019. Connell . Connell all right. Jackie, our coverage of new york citys reopening will continue. Remember today is only phase one here in the city. That means certain retailers can reopen but only with curbside pickup. Construction work can start up again but with added Safety Measures in place. Same deal for manufacturing. So all of that may not seem like much but it is in a city this big officials think 400,000 workers may have started to come back into work today. Of the stiffs five boroughs, the bronx where we are today had more confirmed covid19 cases, more hospitalizations and more deaths than any other. So in other words, the virus hit the citys poorest borough harder than the other four. That is not it. When we come back the owner of this Furniture Store where were broadcasting comes talks about how looters last week made what was already a tough Economic Situation almost impossible. Stick around. Well be right back. My agerelated Macular Degeneration could lead to vision loss. So today i made a plan with my doctor, which includes preservision. Because he said a multi vitamin alone may not be enough. And its my vision, my morning walk, my sunday drive, my grandsons beautiful face. 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Late last monday night, Security Camera footage here at the Beverly HillsFurniture Store, fordham section, picked up a group of looters, breaking in, basically taking anything they could carry out of the store. They wiped the place out. We have a picture of the showroom floor before the looting took place and, when you look at it, you know, all the, the furniture laid out in the store room floor, then look at it the next morning. It is amazing. They completely wiped it out. The timing couldnt have worse for the owner. He had one week to go before reopening the store before the coronavirus lockdown and today should have been that day. Mr. Sanchez joins us in his own store. I guess what i should say as we turn to you, whats left of it. Were right in the showroom. Yes. Connell and it is basically wiped out. First of all, lets go in order. Tell us about last monday night, what it was like for you. It was really bad. I just came, on social media, they broke inside of your store. I didnt believe it. I said, i have my locks. I have everything under control. Then, when i find out that i sent my uncle to come check it out, the store, to see if it was fine. People were actually at 9 00 taking merchandise out. Connell that was the next morning . Thats correct. Connell so the point is the looting had started the night he bev, 10 00. 10 30 p. M. Connell they had gone through the whole night in and out. Taking merchandise. Connell when you say taking merchandise, this floor where we are right you no, you see some Security Camera footage, but the floor were standing is all but empty. There are couches behind you but those were some you were getting ready to sell, i guess they couldnt carry them . The couch was too heavy and there was just taking merchandise. Connell one of the most amazing things, maybe amazing is not appropriate word, but we were walking around, our screw and you earlier today, one of the things maybe you can pick it up there, a little shoe, dont know how how small this is, hold up to your face on camera. That is baby shoe or toddler. They left this behind. Connell somebody was in here with their little baby i guess . Exactly. There were people with little babies. Connell that was one of the things we found we couldnt even believe. We stop that and focus a little bit if i can on your business. Youve been here 12, 13 years in this neighborhood, offord ham road in bronx. Fordham section of the bronx. Thats right. Connell you had successful Furniture Store but youre wiped out. How money do you think you lost . Roughly 3 and 400,000. Connell 3 and 400,000 worth of merchandise . Worth of merchandise. Connell what are you going to do now . I, im not a quitter. I want to keep on fighting. I want to have my business back. I have good people trying to help me. I also gofundme page. And, and, im really positive. I know i can come back. Connell youre hoping that for, hoping maybe somebody else will help you out, if i can yes. Connell what about insurance, say for example, Something Like that. The insurance were working on it. They said they dont cover rioters. Connell wow. On page 71. We checked. Connell damage because it was done by rioting, theyre telling you it is not covered . Thats correct. But were trying our best if connell before this, you were already in one of, this type of a store is the type of place that would open up today, right . Thats correct. Connell you could have done curbside, i guess . Exactly. Connell im sure you were looking forward to today . Thats right. This is the, coronavirus hit us in tax