Jump some sometime. Nationally doesnt seem to be more worrisome picture. Some of those spikes are giving other governors besides those in texas some paws where we go from here. Where do we go. Financial center banks, and the rest, ease up on the volcker rules, how much cash they keep on hand. It gets a little a gobbledygook. It doesnt have to have a lot of money sitting around. That could reflect on the group as a whole. Were following that as well as Jackie Deangelis monitoring all of this in new york. Jackie. Reporter neil, we started in negative territory and now positive. So this market is very tentative right now. You bring up the situation in texas only compounding fears of the coronavirus and spike in cases across the country in other states as well. People sitting back, it is part of phase one, were testing more and still working through the system or is it because states are reopening, people are congregating not taking proper precautions. We dont really know the answer but the market is a little uncertain. Because of this, disney will reday reopening of dills any disneyland. It was set for july 17th. Were not sure when. Add to that uncertainty the governors of tristate governors were putting rules in effect an Apple Closing Stores in addition to what it did in texas. The market is a little bit worried. On the data side there are positive points, jobless claims, we lost more jobs but the 12th straight week the number declined 4. 18 million. Slightly higher than the estimates, 60,000 lower for estimates. Total number of claims for 14 weeks since the pandemic started, 47. 25 million. That is number of people who lot of their job. That is almost 30 of the u. S. Labor force. A little bit of a bright spot. Freddie mac is saying Mortgage Rate for 30 year fixed, 3. 13 . That will help spur the Housing Market where we see positive signs. Stocks are very mixed. Draw your attention to macys. It announced lay offs in the corporate sector of the workforce, 3900 jobs, 3 of the workforce. It will save macys 365 million. There is american airlines. That stock was down earlier as well. There was a Debt Offering 2 1 2 billion dollars, just sort of shows you how the coronavirus has impacted these companies. Theyre in a tough spot. They need to raise money. Investors are not enthusiastic about that, especially when there are fears about the virus spiking again. People were just starting to think about their vacations and air travel. That may just throw some cold water on all those plans, neil. Neil jackie, thank you very, very much. By the way does anyone remember not too long ago when florida was saying you come from new york and new jersey we might think twice about welcoming you here because of the serious number of cases that you have, those were the number one and two states for coronavirus cases. Now new york and some of these other northeastern states are targeting florida, among a host of others, including arkansas, north carolina, South Carolina, arkansas, texas and utah where there has been a series of spike in cases saying we might quarantine folks for up to 14 days, or not allow hem here at all t gets to be messy. Were in long island, new york with the reasons and where things are going there. Laura . Reporter neil, just as jack sy said, just in time for Summer Travel dramatic new increase in covid numbers led to dramatic measures. As you mentioned new restrictions going into place starting at midnight. We want to show you in the map where 22 states in just the last week seen a spike in new cases. 20 are higher. That is including california, arizona, florida, South Carolina and texas. Within the last hour as you mentioned, Texas Governor greg abbott announced the state will pause the additional reopening faces after Health Officials in has state reported over 4300 new hospitalizations of Covid Patients yesterday, a record high for the 13th straight day. Abbott releasing this Statement Last hour which reads in part, as we experience an increase in both positive covid19 cases and hospitalizations we are focused on strategies that slow the spread of the virus while also allowing texans to continue earning a paycheck to support their families. As numbers continue to surge in southern, western states like arizona, Health Care Workers there say they are becoming quickly overwhelmed. They need more tests and are no longer able to meet testing demands in some areas. This nationwide spike is prompting governors in new york, new jersey, and connecticut to announce a mandatory 14day quarantine from anyone visiting eight hardest hit states. Governor Governor Andrew Cuomo says if you fly in his state. They will have your name, they know where youre supposed to be staying and there will be random checks. If you go to a hospital from outofstate and you test positive youve been within the 14 days, you violated the law. Youre going to have a problem. Reporter anyone who violates this quarantine, neil, could face up to 10,000 in fines. A little piece of good news for new york. Hospitalizations here have dropped below 1000 for the First Time Since march 18th. Neil . Neil laura, thank you very, very much. Lets go to phil flynn. He is following closely what happens in the futures markets. Oil in particular, the fear that more spikes we see, the slower the recovery will be. How is it looking right now, phil . It is really mixed, neil. Ill tell you this this is like one of those horror movies you think you have the animal, mon sister put away and it starts to rear its ugly head again and thats what were seeing in the oil market f you look in the oil market, neil, we had one of the most incredible comebacks in history weve ever seen. We went from 40 negative to 41 positive. That was only a couple days ago. When we get a report like we saw in todays wall street journal, increase in cases in coronavirus may not just be because of increased testing, when you hear about texas talking about maybe slowingdown the rollout you wonder if this will expand and oil traders are becoming cautious. You see cautiousness in other commodities. Look at gold for example. Gold was sixyear high based on concerns about all the stimulus in the economy, more inflation coming into the picture, but that slowdown of course really starts to even cool that market off a little bit. And the thing i want to tell everybody, looking at these numbers, even though were concerned about the coronavirus, weve really had to look at the Economic Data which it has been an incrediblecom back. Take the durable goods number this morning. Last week it was in the tanker. Came back very strong this month. We look at gasoline demand which was pretty much nonexistent a few weeks ago, it is coming back. All the pieces are in place for a strong economic recovery, assuming we dont take a big step back with the coronavirus shutdown. Neil but i guess, when you look at it, phil, the worry is that at least it delays some of this hoped for recovery, right . If texas is taking a pause, other states are looking at pushing back, maybe up to 28 days, the next phase of reopening sofar in new york city theyre still on board for Indoor Dining for example after the first week of july. So on balance the reopenings continue but is the fear that maybe weve been sloughing this off too much that there are underlying problems here that were not really addressing . I think that is the fear. There is a fear that people are going to be afraid to go out and reopen and be afraid to go back to work. They will park their cars again. That well see a drop in demand. That is absolutely the concerns. When you look at the resilience of the american people, what weve seen during this recovery, im not as pessimistic, you know as a lot of the naysayers. Look at correction in the markets, stock market, the oil market, it has been relatively modest based where we came from. So i think there is a bit of optimism. Now, you know, when i was in college, i was thinking about becoming a trader i wish i spent more time in premed because i think i would be better as a doctor to trade on this market right now trying to get an idea where were at and i do know that were seeing optimism from some experts that say, hey, were not going through a second wave right now but they are also raising the caution sign that we cant drop down our guard right now. We have to be careful with social distancing. We still have to follow the rules and that way we can have successful reopening. We have heard comments out of the white house today that theyre not going to shut down the economy. That should give us a little bit of confidence but obviously were very concerned of course if we do take a big step back well delay which should be one of the biggest comebacks in u. S. Economic history. Neil all right. Phil flynn, well watch very, very closely. Subject i want to follow up if i can with congressman mark green of tennessee. Congressman a lot to talk about, this pace of reopening that might slow as a result, are you worried that it is also going to slow the recovery . I think there will be a little bit of a step back neil. First thanks for having me on your show. Obviously it will create some fear for some people but we just showed in the last few weeks particularly with the Retail Retail sales and then of course the employment numbers that the economy is poised to spring back very quickly. If there is a short pause again i think it will be okay. I think optimism will prevail. I think well be okay. Neil you know some of the states are surprised by i guess the sharp nature of the upticks. Texas certainly comes to mind. Hospital bed issue which seems to be a big issue in states like arizona, that they might have rushed this and they felt pressure to rush this, do you think that is true . No, i dont think so at all. What people need to monitor is their icu bed and ventilator capacity. Tennessee weve seen increase in cases but weve not seen increase in hospitalizations. Were looking at about 25 utilization of our ventilators in the state. Meaning 75 are out there and available. Flattening the curve was the goal, not preventing every person from getting the virus. That is impossible. So we should just focus on the right part of the curve, manage the ventilator space and the icus, and run the economy based on that. Neil you know, congressman there has been this move afoot ever since the death of gorge Floyd George Floyd come up with some legislation republicans working at it, democrats are working at it, but the two sides never find agreeable terms in terms of law and order, and looks like nothing is going to get done. Is that true . It certainly speaks of that right now. What it really shows im not sure the democrats care very much about Police Reform. What they care about is campaign talking points. Tim scott, who is an africanamerican had a passionate presentation of his bill on the floor of the senate and offered the democrats opportunity to make multiple amendments to his bill. Meaning he would sit down and work with them. They walked away 100 . Meaning they essentially voted against stopping chokeholds. They voted against, you know making lynching a federal crime. They voted against those things. They wouldnt even work with him. And in the house, just now, they passed a bill no amendments from the republicans. They wouldnt even allow debate. So it is as if all theyre looking for is a campaign talking point. Theyre basically using people to empower themselves. Thats what theyre doing. Its insane. Neil not surprising, congressman, they come back at you, say at republicans with the exemption of some of the provisions you mentioned like getting rid of chokehold stuff and getting rid of database from officers who move from precinct to precinct if theyre fired, there was very little else that was done in that serious reform and even, when it came to policing the bad police you didnt do enough of. Im just wondering who is ever right on this, i understand how politics goes, is it fair to say that were not going to see legislation now . That that looks very unlikely . Well, hopefully as these, you know efforts between the two chambers between congress fail, that the republicans who actually allowed the democrats to present amendments and the house and the house who chose not to have amendments, we got this impasse, hopefully after that happens, everybody will sit down and we negotiate. But we offered the negotiations on the senate side. They didnt offer negotiations on the house side. I think that shows a real lack of interest in doing the right thing. I mean, you look at their history on justice reform. I mean for years democrats talked about that. Republican donald trump got in, got it done. And now theyre probably afraid well get it done on Police Reform. So theyre not negotiating. Neil all right. Well watch it very closely. Congressman, thank you very, very much. Meantime here were also following on the other controversies going around with all the protests and removing monuments. The president is saying you know you try to do that, im going to get executive order going to arrest you for even contemplating that. Now u. S. Marshals have been told to go ahead and defend those monuments, wherever they are and whoever they are. After this. Now more than ever, you need technology you can rely on. And people you can rely on. Im a Dell Technologies advisor. Me too. Me too. Me too. And if youre a small business, were with you. We are with you. Were with you. We want to help. So well be right here. At home. Answering your calls. Providing support. And standing by you every step of the way. Bye bye. The people who are basically tearing down statues, trying to make a statement are basically borderline anarchists. The way i look at it. They have really no agenda, other than the idea were going to topple a statue. Neil all right. That would be the founder, robert johnson, saying enough already, dial it back a little bit here and he speaks for many saying some of these protests and some of the targeting for example, of statues and the rest risk anarchy if it were to continue. Liz peek on that. Liz, it only continues no matter what leaders of any type are saying this goes on and in fact escalates. Where is all of this going . I dont know where it is going, neil, but it is certainly become a divisive issue. The majority of americans are not in favor of what is going on. I agree with johnson, 100 . These are not wellthought out campaigns. Theyre toppling statues after all of abolition its, ulysses s. Grant. These are criminal acts, riot to us acts. What the president is doing with his effort to craft some sort of federal approach to this is saying enough. He is siding with, by the way, 58 of voters in a new Harvard Harris poll, approve of even keeping confederate statues in place. 71 disapprove of allowing local governments allowing these statues to be destroyed. So i think this is sort of an example of where things have gotten out of hand. And i think he is right. I dont think it really reflects any kind of thoughtful dissent or anything that might be construed as constructive. It is clearly destructive. Neil if you want to get rid of statues, put it up for a vote. There are peaceful and smoother ways to go about that. Im wondering you talked about the vast majority of americans who are concerned about this, i dont like to leap on polls, liz at in early juncture, anything that can and will happen but the trend is not the president s friend. Im wondering if some of the Investment Community is beginning to factor in the fact that he might notrecover from this . What do you make of that . Oh, i think there is no question that wall street is signaling concern about joe biden becoming president. We saw when there has been an up surge in joe bidens polling weve seen a downdraft in the market. I tracked it. It is very obvious i seen surveys of professional investors who are saying the same thing. Why wouldnt they, neil . Joe biden is talking about doing all the things that he and barack obama did for eight years which stifled what should have been a very robust recovery. People forget, yes, jobs increased, the economy did come back to life but it took much, much longer. Like four or five times longer than economists predicted based on the depth of the plunge. That is a sort of historical algorithm if you will, what happened is all the regulations spewed out by the Obama White House basically stifled the recovery. This is a fact. I think as investors look forward to a biden presidency were he to win in november. We can count on higher taxes, more regulations. Now because of the left ward lurch of the democrat party, i think biden es policies are likely to be more destructive. Im concerned about it. I think we have a economy teetering on recovery now. It needs encouragement in the way of policies and possibly a fourth round of stimulus. It really does not need higher taxes and a whole slew of new regulations and antifossil fuel regulations that kind of thing. Neil liz, im old enough to remember the anxieties building in 1992 when it looked like george bush, sr. , especially last couple months, some of warnings. Untested governor wants to hike taxes and the rest. We know how things ultimately went. Everything is not black and white, democrat and republican, i know that, do you think people have fears of a biden presidency overblown, should he be victorious, house and senate with him, so sweeping it would be that damaging, that from the market perspective . Well, if people begin to think it will be a sweep, i think catastrophic. A little bit like what happened in the new york state, finally the Republican Senate was overwhelmed by the democrat senate. A whole slew of regulations and policies flowed through into new york state which were harmful to businesses. Had been basically prevented by a republican state senate. If we have that happen nationally, watch out below because the markets wont like it. But more importantly well see all these communities that have been so strengthened by job creation, by higher wages, et cetera, blacks, latinos, women, also, disabled people, veterans, i think all of that goes backwards. I just really think that would be a tragic thing for the country. Yes, joe biden on his own with a