From washington. Gerri, with the declines we start with you. Reporter thats right, jobless claims rising for the first time in 16 weeks. Stocks certainly didnt like it. The number above expectations and also above last week numbers. Also now these total numbers of claims in 18 weeks since those lockdowns started total 52 million. That is a third of the American Labor force. So you see these numbers disappointing. One bright spot, continuing claims. Tracking total number of unemployed workers receiving benefits, came in 870,000 less than expected. That is a bright spot. Even so all three major averages trading down. Nasdaq down more than two. Tectum blink big time. Apple, amazon trading lower. Microsoft had a good report yesterday but out with disappointing guidance still headed down. They say people are going into cyclical and value names. I will believe it when i see it on an ongoing basis. Tesla, planning to join the s p 500. That is ironic that stock being traded there. Gold, tesla, you see what is going on with that stock today, down almost 5 . Gold rising, trading at its highest level in nine years. Check this out. Why . U. S. China tensions. We used to say u. S. China trade tensions. Now it is certainly more than that. Gold a safe haven play. Back to you. Connell gerri, thanks. To blake burman at the white house with the latest developments coming today, latest on new relief bill that everybody seems to be working on. A lot of changes throughout the day. Blake, what is the latest . Reporter laughing here, putting down the phone to try to make calls to track down the latest. Connell, this is moving pretty quickly we believe. We can tell you on the policy front of this is the payroll tax cut is not going to be happening in this new relief measure. President trump talked about this into weeks and months saying he wanted it, top negotiator for the white house, treasury secretary Steve Mnuchin said today it is not happening. The president s priority for the moment is to get money into americans quickly and one of the problems with the payroll tax cut it takes time. Reporter will there be a payroll tax cut in the bill . Not in this. Were going to come back again. There may be a cares 5. 0. The president is focused on money in American Workers and american pockets right now. Reporter President Trump sent the following tweet blaming democrats, saying the democrats said strongly they wont approve a payroll tax cut. Too bad. It would be great for workers. The republicans therefore didnt want to ask for it. There were as many as 10 Senate Republicans who oppose this measure anyway. Democrats are making the case that republicans are in a bind. Weeks of saying they were waiting for this moment, now they are here around they cant come together as a party to figure out what relief measures they want. They said they needed a pause. They are still not prepared. You use the pause to prepare. What we have seen so far falls very short of the challenge that we face. Reporter by the way were expecting to hear from President Trump at the top of the next hour. It will be the third consecutive day in a row, connell the president will host one of those covid19 briefings. We expect to get an update from him where the negotiations stand. Connell . Connell well let you return that phone call. Blake burman on the north lawn. Melissa. Melissa im sure it was important. Here to react steve moore, freedomworks economist. I guess we werent really that hopeful about a payroll tax cut. It made a lot of sense but in my mine politicians in washington never get together to vote for that, because it means less money for them to dole out to their favorite people. I say that about both republicans and democrats. Well, first of all let me say, melissa, as you know, ive been leading the charge for this along with art laffer and steve forbes and others. This aint done yet. This is not done yet. Were not throwing in the towel. We think any package has to include a payroll tax cut. If it doesnt, i think youre going to have many, many republicans voting no on it. That is the last thing donald trump wants. We want unity. There has to be a payroll tax cut in this bill or you will lose a lot of support. I just think it is wrong to say this is done. Theyre still at very starting negotiating, you know, they havent even started negotiating with the democrats yet. It is very dangerous for republicans to move forward with a plan put it very simple. Without a payroll tax cut in the plan, what is there to stimulate growth . I hope nobody thinks dumping money out of helicopter windows is somehow a stimulus to the economy. If that were the case we should dump 10,000 out. Melissa but, steve, look at the optics here. Steve mnuchin does not seem to be on the payroll tax cut side at all. He is going over to capitol hill by himself. Larry kudlow is not in sight. You heard Charlie Gasparino reporting on the civil war within the economists, among economists which i imagine it is like fencing. It sounds very refined but still. It just, i who is arguing on side of payroll cuts right now if Steve Mnuchin is the guy leading the charge . Well, that is a good question and ill tell you this, melissa, there is one person in washington who may be the biggest fan of the payroll tax cut and you know who that is, donald j. Trump. I dont see him giving up on this i really dont. I may be wrong. As they move forward with the negotiations, start to realize, wait a minute this is supposed to be about helping the economy. Giving out money to stays and cities, doesnt help the economy, helps government. Passing money out in forms of checks to people is not incentive to get people back to work. Unemployment insurance is paying people not to work. So you have to have something in this package, melissa, in my opinion, if youre going to get a majority of republican votes, that is actually progrowth, a tax cut this is only one that is in sight. Melissa yeah. I totally agree with you on, like the academic fundamentals of it, a payroll tax cut makes the most sense. You incent people to work. You take minimum wage workers, poorest among us and instantly give them a pay increase but democrats go out there and hammer again and again that a payroll tax cut, you hear the word payroll, you know how they sell it, it is a tax cut for companies and for the rich. There is nobody out there countering that message in the mainstream media. This is why the payroll tax cut has such a hard time, even though i completely agree with you, have being studied economics youre 100 right we need it for stimulation but no one is arguing it properly. Let me, you make great points. Here is how i see this proceeding. You have, look, if i have my druthers i would suspend it for every company and every worker in america rest of the year. That is clearly not going to happen. What could happen this, would be something very difficult for democrats to oppose, you say any employer with less than 100 employees, okay . Less than 100 employees, small business, you get the tax cut. Any worker with income, throw out a number, 80,000 number. For lower, middle income people. Here is why nancy pelosi will have very hard time opposing that, because 10 years ago when barack obama passed a payroll tax cut nancy pelosi celebrated this as the greatest victory for workers. So the question, we need to ask nancy pelosi is, why was a obama payroll tax cut good for workers but a trump tax cut, payroll tax cut bad for workers. I cant wait to hear her answer that question. Melissa is Steve Mnuchin trying to sell payroll tax cut how high the income is and how many employees you have . That is a great sales pitch. Is he actually saying that to people walking in the room . I dont think Steve Mnuchin is a great fan of this and the reason hes not, he said it in that clip that you just played, melissa, it takes time, you know to get the money into the hands of people, where if you give them 1200 they have got the cash right now but what he is missing this is now incentive. Every extra hour works, goes back on the job they have extra incentive. Every worker will look at their paycheck now, see 7 pay raise. The politics of is good. The policy is good. Im here to tell i think we can turn this around. Dont write off the payroll tax cut. There is a long way to go with negotiations. Melissa he is in treasury. I would think he knows what paychecks look like. That if you withhold less there is more in the end. I dont know, there is some disconnect here. I love the idea, steve. Were going to share it with Charlie Gasparino as he is reporting on this in the last hour. I hope he is watching. I love the payroll tax cut. Yes, go ahead. One other quick thing. One very positive thing in this bill is that they do put a limit on the Unemployment Insurance benefits. You and i talked about this last week. We have to do that or were not getting workers many states where workers are getting twice as much money in unemployment benefit than they get going back on the job. We cant have that. We wont have job recovery. This bill mnuchin came out with does deal with that problem. Melissa thank you so much, steve moore. Connell, over to you. Connell thank you. Melissa, the earnings alert is on intel. The huge chipmaker reported better than expected figures but you see the stock down significantly in afterhours trading. It is down almost 8 right now. That appears to be one of its key chips is running line schedule. First on numbers. 1. 23 a share last quarter. We h better than 1. 11. Revenue on Third Quarter side an full year topping wall street expectations. Thats all good. However intel says its new chip that it was planning to unveil is running six month behind schedule. And that appears to be what is sending the stock lower in afterhours trading. Kind of an awkward transition. I will felt one piece of sports news on. Well talk to Kevin Burkhardt on opening day of baseball in few minutes there is report coming out, i believe, espn or and or cbs, the reporter john heyman is reporting that Major League Baseball opening today day, has games tonight, will expand playoffs. More teams will play in the playoffs. That was up to debate. They were negotiating it right down to the end. They had to get a deal before they started. According to report looks like more teams in the playoffs. That and more intel earnings. Back over to you. Melissa whew, a lot of breaking news there, connell. The race for treatment. Drugmakers racing the clock to get a vaccine out by the end of the year. When they reach the finish line how can americans get it . We have details this hour. Plus cracking down on violence. How local businesses in chicago from fighting back to curb a spike in crime across the region. A successful shift in strategy. Well talk to a chef in the bay area about pivoting his business to online platform. Some good information and good inspiration for all of our beloved Small Businesses out there. Stick around you know geico is now offering an extra 15 percent credit on car and motorcycle policies . Ok . Thats 15 percent on top of what geico could already save you. So what are you waiting for . Dj khaled to be your motivational coach . Yo devin remember to brush in a circle motion. Thank you. Dj. Khaled. Tiny circles, devin. Do another one. Another one. Is this good . Put in that work, devin. Dont give up. Geico. Save an extra 15 when you switch by october 7th. In a highly capable lexus suv. At the golden opportunity sales event. Get zero percent financing on all 2020 lexus models. 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Connell here is a fox business alert from the department of Homeland Security announcing it is lifting its ban on the trusted Traveler Program for new yorkers. The state amending the green light law, cooperating with federal Law Enforcement now easing dmv information sharing. Melissa. Melissa that is good to know. On to chaos in portland. Tensions escalating in the city night after night after riots just earlier that day, the city Council Passed a new policy that banned the police from cooperating with federal agents. Fox newss dan springer is in seattle with the details. Dan. Reporter melissa it is dimaggio streak, 56 nights in a row of protests in downtown portland. Can you imagine running a business down there. Last night was some of the worst violence weve seen yet. For several hours, hundreds of protesters battled with federal officers. Right in the middle of it was citys merited wheeler. He was there for solidarity. He called it a listening session, when he started talking he was shouted down with obscenities. He was hit with tear gas, not once, but twice. After second gassing the security detail got him to shelter in a City Building nearby. They are firing tear gas and flash bang grenades as hundreds of fireworks were shot at federal courthouse. Arsonists threw several molotov cocktails. They broke a fence and tampered with a fire hydrant. When wheeler talked about the teargassing he saw nothing that would provoke that kind of response. Justice department has opened a review of conduct of officers in portland. Several lawsuits were filed claiming civil rights abuses. Agencies pushed back three officers may lose their sight after getting hit with laser beams. Three have been docked, their identities on social media. Portland city Council Passed a law banning portland pd helping officers in any way. Does not allow local Law Enforcement to coordinate or support even in perhaps lifethreatening situations federal officers. That is dangerous. Reporter Portland Police eventually declared a riot last night but never engaged with anybody in the crowd. They didnt make a single arrest. Melissa . Melissa that is so insane. I cant even believe the video. I cant believe what is going on there, dan. Thank you for bringing it to us. Connell . Wow. Connell to another city on edge now. President trump sending federal resours to chicago following a sharp uptick in violence there. Local businesses joining in the effort to stem the outbreak of crime. Grady trimbles live from chicago now with the latest for us. Grady. Reporter connell, President Trump says that federal Law Enforcement presence will help get the gun violence here in this city under control. Members about the atf, fbi, u. S. Marshals and other federal agencies coming to this city, as well as kansas city and albuquerque, new mexico. Chicagos murder rate is up 48 yearoveryear right now. It has gotten to the point, as you said, Business Owners are getting involved. They say this is a problem they cannot ignore. So they formed a coalition and theyre offering thousands of dollars of reward money for info in killings of one and 3yearold boy in two separate shootings. I feel like our Business Owners need to step up. I feel like our Business Owners need to get more engaged in the community. Our Business Owners need to start putting more dollars as it relates to the gun violence. Reporter also today there was a rally downtown, a up from of people group of people opposing the president s federal intervention. Another Business Owner who is part of that coalition i just mentioned also opposes it. Police, im not for defunding the Police Department neither. Im very conservative when it comes to that. We need police. We need law and order but we dont need it donald trump style. Reporter many people say that that federal presence is necessary right now, that chicago needs any help it can get including from the federal government. Connell . Connell grady, Grady Trimble in chicago. Melissa. Melissa fox business alert. President trump expected to sign executive orders tomorrow on drug pricing. The white house saying that the president continues to explore any and all options that will deliver lower cost drugs and insuring that we have access to the most Innovative Vaccines and therapeutics in the world. So an executive order on drug pricing. You can expect that tomorrow. Meanwhile the fate of u. S. China relations, secretary of state mike pompeo is expected to make remarks later this hour as tensions between the two countries escalate. Plus baseball is back. Details on how the league is adjusting to the new rules this season, coming up. Rently and other Money Managers dont understand why. Because our way works great for us but not for your clients. 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