Are still 34 up from the lows we saw three months ago. Remember nasdaq closed at record high above 10,000. That milestone just yesterday. Fox Business Team coverage, blake burman with the latest from the president. Well kick it off with Lauren Simonetti on todays selloff. Lauren . Lauren melissa it spared almost no one today. Investors are still reacting to the federal reserves cautionary tone about the recovery yesterday, along with the cautionary tone from the pandemic itself as more states report more coronavirus cases. That is raising fears of that second wave of infections as the economy struggles to recover. Another 1 1 2 million americans filed for Unemployment Benefits last week. Number have fueled, received aid for two weeks stands at 21 million. Stocks that have outperformed as the country reopens are the ones getting hurt the most today, like travel shares. Look at some travel names. Many of them have doubled sentence their lows in midmarch. So they still have more selling possible, if you want to look at it that way. Look at that, united down 16 . Also look here at homebuilders. Shares deeply, deeply in the red as fears build that a second wave could hit the real estate recovery that weve seen. Take a look on the medical side of things. A rare green arrow more mow derna. It plans to start a latestage trial for its covid19 vaccine next month t was only up 13 cents, moderna. It could do that small gain. Regeneron begun trials of cocktail of antiviral drugs for people that dont respond well to vaccines. The overhanging worry of the slow recovery. That took the price of oil down 8 to 36 a barrel. The pullback in prices might cause shale producers to pull back on their plans to restart production. So in the end of an ugly session, it was the worst day for the dow since the middle of march. It closed down over 18 points. About 50 points off the low of the session. Nasdaq well below 10,000, falling for the first time in five days. Back to you, melissa. Melissa thanks, lauren. Lets bring in scott martin from kingsview asset management. He is also a fox news contributor. He joins us on the phone of the what did you think of the selloff today . Melissa, it was a long time coming. We got to remember days like this do happen, especially in markets like weve had this year and lets get some perspective as you guys talked about at the beginning of the show. The s p and nasdaq, are roughly melissa, back where they were at end of may, depending on the index. There was likely some a in this market. With the fact we do have covid resurgence, the market had a reason to sell and spark that probably lit the fire too the fact came out yesterday an reaffirmed some of those economic challenges that lie ahead. For our money, what were doing at conditionings view asset, a lot of times this year i still think gold is one of the best bets on the block to make. With the fed backstopping basically everything that the banks have ever lent in the history of the world, that the fact that the treasury is printing trillions of dollars to fix whatever problems are out there, including ones that havent occurred yet, gold to me is something you should have in your portfolio. It was up surprise or no surprise. I want to tell people what theyre looking at on the screen, scott, if i can jump in for one second. Here is the president who is wheels down air force one at dallas love field. He will have a roundtable coming up in a short time which he called transition to greatness, restoring, rebuilding, and renewing this is happening in dallas later on this evening. He has remarks at joint fundraising din are closed to the press. This is him arriving in dallas right now. And scott, let me ask you, you know, some are saying that this we saw today, more about the idea, there was a record yesterday. It is riding the wave of where traders think other traders are going, in the sense that you see a record, you sell your winnings, you know theyre going to release more news about the coronavirus cases. We dont know that it is really necessarily a slower recovery. Could be more testing is one of the reasons that were seeing an increase. In other words, you know, it is trying to capture the beta. Trying to make money in a market that goes up and down. What do you think about that . Great call, melissa. As you know from your experience, you mentioned beta, alpha, outperformance you get on some of these stocks eventually turns into beta because everybody does it. It kind of crowds out the trades and crowds them in even as you said. Yes i think some crowded trades are coming off. Not to say they wont go back. To your point about covid. More testing, more preparation at hospitals. We have a lot of clients doctors, physicians, melissa, hospitals are worried as they have been. Theyre more prepared as well. Even if there is second coronavirus shock, god help us if there is. But if there is, maybe well be aable to be more prepared for it, both economically and socially. Melissa scott martin. Thank you for that, connell. Connell lets get, melissa to the virus numbers as country slowly gets back to work. Weve seen a number of states reporting spikes in new coronavirus cases. Remember the u. S. Now also surpassed two million total cases. To foxs jeff paul live in los angeles with details, jeff . Reporter yeah, connell, despite those infection numbers going up many states that are planning to reopen are moving forward with those plans to reopen. Here in california theyre going to start operating gyms and campground this while hospitalization numbers are beginning to spike once again. This is the story were seeing play out across the country in at least 20 states. So those numbers going up. Arizona, carolinas, utah, and arkansas find themselves with higher numbers and texas, one of the first places to begin reopening, setting new records for corona related hospitalizations on three state days this week. 2100 patients were admitted yesterday alone. But once hot spot of new york doesnt find itself on this increased cases list. Governor andrew cuomo explaining his state is the exception. You reopen, number continues to go down. How can that be . Because our reopen Something Different than their reopening. Our reopening is based on the numbers. Our reopening is phased. And because new yorkers have been smart, and they have been diligent. Reporter Johns HopkinsUniversity Also predicting 100,000 more deaths linked to the virus by september. Beyond the u. S. , the virus continues to cause problems around the world. The u. N. Economic group says the world right now is going through the deepest recession since the 1930s great depression, saying the Global Economy could shrink by 6 this year. Just announced movie chain amc saying it could have nearly all of its 1000 plus theaters reopened by july, just in time for Christopher Nolans premier. Connell jeff paul live in l. A. As u. S. One is landing in dallas. Dr. Mark mcclellan from Duke University center of margolis center. Where he is director. Were checking in right now, wondering how the reopening is going . Clearly some investors are concerned. What metric should they be watching most closely to see if another shutdown that might be something that Health Experts recommend at some point . Connell, it is important to watch the trends as you have been talking about. There are increasing numbers of cases and increasing numbers of hospitalizations in many states that avoided those big surges at the beginning of this pandemic recall they are year. So new york, new jersey, those states are coming down quickly but in areas where the case rate started out low, theyre going up and question to watch are those trends continuing . That lags behind the actual spread of the virus and the other question to ask is, are there further steps that these states can take to slow down that spread so that we dont get up to crisis levels of care. Still a lot of excess Hospital Capacity in many places but it will be tough for the economy to continue to reopen if these trends continue for long. Connell okay. Couple things. You see the president has made his way down the steps of air force one. This is dallas, texas. Were expecting some sort of announcement before his roundtable discussion that should begin shortly. If that happens in our hour well bring it to you, the announcement, that is. I dont believe kind of a big policy announcement but well see what comes out of the president. Youre talking about it will be tough to reopen. That reopening process, mark, has started as you know. What concerns you in terms of, what youre seeing . Is it some big Population Center states like arizona and florida . Some of the states were seeing a spike their overall cases are still quite low . Thats right. Their overall cases are low. So thats good news and rate of increase in cases is nothing like, connell, what we saw this spring in places like new york. So that shows that the steps people are taking around distancing, around wearing masks, around being careful about how long theyre in close proximity to lots of other people, those steps are working. Theyre just not working quite well enough to hold case level steady. So what i would like to see is some more progress on paying attention to these steps that really do seem to work and also more progress on making tests available for people who have symptoms, helping them isolate and then, tracing the cases around them. That is the best alternative to a broader shutdown which i hope we can avoid. Connell okay. Let me ask you that as a twopart question as our final question. What odds do you put on some sort of a broader shutdown being recommended again . Do you think it is quite unlikely . Then on the testing i do want to ask you about that. Some are optimistic about economic recovery. Well tell you reason were seeing a spike because were testing more. What about that . I dont think it is just were testing more. In many of these states it does look like there is community spread. It is continuing to grow but that doesnt mean it is going to continue if we watch the steps that were taking to prevent spread. So that are things that people and businesses can do around distancing, around masks. It is also more availability of testing, that people who have symptoms, very importantly, for people who do have symptoms if they isolate themselves, avoid spreading to others, if were able to track down their contacts, their close contacts and prevent spread from there, that is the best alternative to a broader shutdown. I dont think were going to see anytime soon a National Shutdown or anything like that but we could see different regions of the country that start to face real threats to their Health Care Systems having to take steps back. That could happen on regional basis but, connell, these steps we can take now to void those kinds of steps back from happening. Connell all right. Well watch that regionally and im sure investors will as well. Dr. America mcclellan from duke as the president is now rolling into dallas. Melissa. Melissa all right. President trump as you can see on your screen, he is getting set to hold a roundtable discussion in dallas, texas on restoring the u. S. He is expected to address policing and justice disparities across the u. S. Well bring you any headlines from the president this hour. Plus growing movement in silicon valley. Microsoft announcing today that the company will not sell facialrecognition technology to Police Departments, at least in the u. S. Microsoft following similar moves by amazon and ibm and joining the fight for change, apples ceo tim cook announcing today a new Racial Equity and Justice Initiative with a 100 milliondollar commitment from the company. Cook says the initiative will begin in the u. S. And then it will expand globally. 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. 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. vo w voltaren is powerful aat whether on the track,thatl. Exhor the everyday drive. Ty, 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. Connell so moments from now President Trump expected to hold that roundtable event we mentioned in dallas. We saw him getting off the plane. Theyre all set up for him. The way theyre billing it, it is supposed to be about the rebuilding and revitalization of our country. In back in washington, Senate Democrats are urging more coronavirus updates delivered from the Coronavirus Task force on potential of a second wave of the coronavirus. Blake burman with more on this. Reporter Chuck Schumer said Senate Democrats want to be briefed by dr. Anthony fauci and dr. Debra about, and Coronavirus Task force and they want to be briefed by next week. They talk about the case cast increasing and unemployment claims releases this morning. The president always interested in himself, not in the good of the country was too quick to sideline the Coronavirus Task force. To eager to pretend everything was back to normal and better than ever. The country needs dr. Fauci on billboard but the president wants to put him on milk carton. Reporter according to Johns Hopkins university, 33 states have a testing Positivity Rate under 5 . These 17 states, plus washington, d. C. Are above that. The World Health Organization uses that figure as benchmark, it gives enough assurances to make informed decisions about reopening. One of the president s Top Economists today says that is a number that the white house is looking at. We said look, for Positivity Rates tests below 5 . Positivity rates are trending down in most places around the country, sadly not the arizona and South Carolina which jump out of the data. Positivity rates below 5 , there is ample testing for surveillance which makes it a lot easier to have very, very safe places to work. Reporter youve been talking about president as were looking at live pictures there. Dallas, texas, we anticipate him shortly as he walked off air force one. One of the things that well look for, connell and melissa, whether the president puts forth any concrete ideas as it relates to police reform. We have heard from democrats in washington. Senate republicans have their ideas as well but the president has not put any specifics yet forward at least as of this point. So the white house has said that it is coming shortly. Back to you. Connell and because of that we will go there live for the beginning of his remarks to see what he says. Blake, thanks. Melissa . Melissa all right. Here now to react is charlie hurt, the Washington Times opinion editor and fox news contributor. Charlie, what do you think the president needs to achieve today . Well, i think that you knee, need cautious and welcome cheerleading for the president about the right direction the economy is going. Obviously its a rough day today, and its a rough path ahead. When you look at unemployment numbers were looking at right now, each, every bit of that represents people who are out of work and that is a terrifying thing and a very, very troubling thing but it does look like things are going in the right direction and, you know, the economy is going to determine whether President Trump gets another term or not and if people feel like were going in the right direction, they will give him another shot. If they dont feel like it is going in the right direction, they will give somebody else a chance to try to do something. Melissa you still think it is all about the economy even though we have some really big competing interests right now . I mean there is still concern over the coronavirus, i guess depending who you talk to but we look at thats what the market in part is being blamed on that today as places try to reopen and you try to handicap how much they will be able to reopen. How good of a job he is doing on that . There is also obviously massive social unrest and you look at the situation in seattle where it seems like the local government there is cooperating with those who want to essentially overthrow the government itself in that area. So, there are some, i mean law and order is huge and health is huge. You still think the economy out weighs those . I do believe that at the end of the day the economy is what is going to determine this. Obviously, usually elections wind up being about one central thing and certainly security, law and order are going to be vitally important right now but if president , obviously, think about what President Trump has been handed. It is only june and the guy has been through impeachment. He has, im looking at it from strictly political standpoint in an Election Year. He is looking at a pandemic, an economic collapse and now riots. I dont know of a single politician in our history that has endured that, that number of calamities, of plagues, to hit them in an Election Year and again it is only june but i do believe that the economy, the reason the economy is so important because it underscores, it undergirds peoples overall optimism. If they are optimistic about their future it also means that theyre optimistic about their security at home and, obviously you know you have democrats are talking about closing Police Departments and defun