today and it's over 50 right now. tencent music. really big buying there as well, scott. >> sorry to cut you off. >> final trade salesforce. >> amy, give me a name >> regeneron >> docusign. >> thanks, everybody kelly? >> they always sneak it in hi, scott, hi, everybody it's from reopening to reclosin this afternoon apple announces it's selliclosi some stores. the man behind the call joins us to break it down. and the math of staying open we'll speak to a chef who has restaurants across the country who opened his doors as

lockdowns ended, crunched the numbers and closed them back up. we do begin with action in the last hour, dom chu >> whatever is happening right now, all of it is playing out in a way that at least is less volatile than you would think for it is markets overall. we have seen fractional gains and fractional losses. that apple move did send shocks across the board, but we're here with the dow industrials, 54 points still even with the big news from apple, up one quarter to 1% volatility t the croe volatility index, prior to covid, we got 85 here we are now just about 32 what it basically tells you is even on a day when derivatives contracts are expiring and we

could see volatility, it's holding fairly steady at least for now. we'll see if that trend continues. and the stock on the heels of that news, apple shares are down by one point they did lose one-third ofthei value today just because of those headlines, but as you can see, we are not far away from record highs and apple is on a steady climb after those covid lows you can see there, kelly, very noticeable i'll send things back over to you. >> thanks very much. let's get to meg tirrell who has the latest count for us. meg? >> hey, kelly. the states in which apple is closing those stores really jibe with the concerning trends we're seeing across the south and the west if you look at the numbers in states like arizona, florida, texas, california, they all hit new highs yesterday or today in the number of cases they've added. arizona up to 2500

california added more than 4,000 yesterday, texas adding 3,400 and florida is up to 3,800 folks are also worried about what this will do to the hospital capacity in these states isi and the covid exit project which is a great tracking for icu capacity arizona only has a quarter of their capacity, california 35%, florida about a quarter, texas about a third. they are arguing these don't tell the story and they do have surge capacity, a lot of excess ability to treat people in that state if they need it. but the hot spots, the areas where we're seeing fastest growth around the country, they're in those states as well. phoenix is seeing its cases doubling in time, now down to 12

days san antonio and austin now seeing the fastest growth in the country right now, kelly >> meg, how long do you expect this surge, quote, unquote to last it's especially interesting to see that the latino population at risk here we've seen a lot of construction sites, situations like that in a lot of these warmer states where they are becoming a hotbed, but that's also economic activity. i'm curious how that will play into the response here >> yeah, a lot of these cases being detected among people who have to continue going to work, and to work in places where they're packed closely together. it is incredibly concerning, and in terms of how long this could continue to go on depends how states and local governments react to this. you know, a lot of the governments are talking about how these cases are often in younger people in texas they were talking about people crowding at bars. in florida they were mentioning

that 60% of the cases last week were more than 45. and the fact that young people might not be practicing their social distancie ining as much. we'll have to see how these local governments respond in terms of masks and other things, but we're seeing places like apple taking steps, where perhaps the local government is not yet. >> we'll have more on that right now, meg we appreciate it meg tirrell on the very latest with that story for us as mentioned, the apple store reclosures is disturbing it's great to have you guys both here jason, albeit this just happened we're trying to catch up with the news the market reaction, while it was noticeable, has been relatively muted what does that tell you? >> i, kelly. great to be with you i think the market has been on

edge ever since we had a strong rebound from the march lows, and a lot of that was subject to the economy reopening and policymakers coming at the market and the economy full force, and we had both of those, so we had a nice snap back in the market but after a 45% rally over two and a half months, the market is rightly taking a step back and pausing and saying, you know what the speed of the initial reopening has been great, but what's the pace and strength of the recovery going forward, and if we're going to have these kind of stop and start economic situations because of the virus, like apple shutting down their stores in a couple of states, then that's something that investors are trying to digest and figure out what that means in the next few months so to see a little volatility like that is to be expected. >> randall, the stocks that you like, can that continue no matter how extensive this

reopening is >> the hardest thing is for the patience of investors. we've seen this movie before with apple the whole concept of what's happening to us with this coronavirus is scary, but every day it's up, it's down, and to some degree, until we see something that's a massive of either a great improvement or deterioration in terms of numbers, the market will take the news to some degree and move up >> randall, why is that? the virus is spreading as much as it ever did, so why is familiarity taking the edge off this >> particularly apple and other companies, if i remember correctly, it was almost all the stores in china. they've seen them close quite a few of the operations. here reopen, and yet they're

still operating at a profit. so to some degree, investors are beginning to realize that the well-run companies, particularly those that are providing services or products that we need or make life a lot easier, that those companies are still likely to earn profits >> absolutely fair so, jason, let me turn back to youment apple is one of the names that typically comes up as the kind of company that are big in tech. some of the consumer winners, home depot, costco and disney. are you concerned this market will lose more if this coronavirus concern doesn't get better >> yeah, i think that's the risk that's the key risk for the market looking out of the next six months as if the path of the virus gets worse if infection picks up in the country, and we're not willing to do what we did the first time around, which is bend the curve and make sure

the system isn't overwhelmed we'll certainly see volatility and downturn if that's the result, because we'll have to make some hard decisions about local economies. i also think policy support is important and another risk to the outlook over the near term is what is congress going to do? i think we know the fed is committed to supporting financial markets and doing what they can for the economy, but congress is a little bit more of a question mark. i think if they were to stop full support on the fiscal side, or if we were to let unemployment insurance lapse at the end of july, that could create a big hole in the economy the second half of the year, and i think marcus would respond in kind to that kind of information. the virus is going to take where we go and how speedy the recovery will dictate that as well >> and you think the dow and s&p can sti with at&t, duke energy and

pfizer will do well as well? >> either the book value and/or dividends will be okay the nasdaq just turned positive the dow is at 126. apple is doubling down on its controversial decision to use their program called hey head strategist mike wilson joins us to explain. on this juneteenth, the divided states of america. a look at one of the key issues for the african-american community as we count down to the election stay with us

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welcome back to "the exchange." it's a new milestone for microsoft today, the tech giant following in apple's footsteps and becoming the second public company ever to be valued at more than a trillion and a half dollars. it's up 25% this year. it's up 50% from its 52-week low. apple still holds the crown for market cap, and apple is up a

whopping 80% from its 50% low. speaking of apple, it recently announced it would be reclosing some stores due to new coronavirus infections let's get to josh lipton with all the details for us josh >> that's right, kelly, apple announcing it's going to temporarily close some of those stores in the u.s. due to covid-19 spikes. starting tomorrow that means 11 stores temporarily closing apple in four states that's florida, north carolina, south carolina and arizona still over about 200 of its 271 stores in total in the u.s. do remain open. though, remember when we say open, a lot of those stores remain open just in terms of curbside pickup. if you can enter the store, a number of rules there, too, kelly. you have to wear a mask if you don't have one, one will be provided to you

the number of customers in the store also limited due to social distancing guidelines. apple did open these stores. it did caution it would always follow the data and guidance of health care experts, and if warranted, would close those stores yet again and it's done so here. kelly, back to you >> and on top of those store closures, apple is in an escalating fight with one of its prominent app store providers. we're not talking about a huge impact to apple's business, i just wonder if business is leading the next wave of closure, so to speak, that it won't be we see states and communities shutting down per se, but maybe the companies themselves saying, we developed our own protocols now, and we're taking the lead on this? >> yeah, i think most big companies, they've been thinking about this for three months.

they have a responsibility to their employees, they have a responsibility to be seen as good social citizens that's something most of the ceos are taking very seriously right now. the market is really looking for any signal of where the economy is going, and a company like apple saying, you know, we're not ready to put our employees at risk in this way, or we think conditions have changed and we're going to re-evaluate that risk is a great signal for the market >> absolutely. let's talk about other major issues for the company right now, and this battle over the e-mail app is super interesting, because i was surprised that apple came out in a pointed way about it what do you say about that >> they've been saying to the investment community for years now that they are transitioning to be a services company their business isn't ever growing iphone sales or ever growing hardware sales, their business is getting more revenue from the mass installations of iphones in the world that strategy is at risk if they change the rules on when they get to collect money from their

developers you've got this email app called hey. its founders are wealthy they do not want hay to be massively unsuccessful, and they're shutting it down in this fight. so david hannameier thompson came on with us yesterday, along with the chair of the antitrust committee, and he told me very directly that he thinks apple is being a bully, he does not want people to be afraid of the merchants. he called it highway robbery and said it was unconscionable that's a massive amount of pressure for apple to face, and on top of it, they're facing an inquisitive investigation in the eu

but they can't bend that pressure very fast because they've pitched their registry of services. >> we've talked about that before, when apple is pivoting to services, keep in mind that 30% toll is generating a piece of that growth all of that said, nilay, why is the stock sold off a trillion and a half market cap. there is no sign investors are concerned about a fundamental shift of their business model. no sign. >> apple, to its credit yesterday, held firm if you want to change the way your app works, you want to add this button, you can be back in the store, that's fine, but we're sticking with it until a regulator comes and says you have to change it, which is months from now, i think apple is safe. and i think really the issue for them is next week is their developers conference and now their entire developers conference, their relationship to the community that makes the iphone the iphone is a little tainted that at any moment

iphone may crush their business. that's not a problem for the revenue strategy until the regulators come and do something about it >> what kind of remedies do you think could seriously come out of this? >> the eu and the u.s. is very different in how they think about these things congress was quick to remind they they have many powers, but breaking apart companies is not one of them. i think you might see the eu do things like mandate alternative app stores, mandate things like you can't sell your own apps in your own store this is what we see in microsoft who is asking for this scrutiny. we've seen that kind of remedy with google. i think here in the u.s., what a congressman told me is he's looking at all the digital platform dividers. he's saying competition between apple, google, microsoft, he

wants to see them all available, not a targeted remedy towards one company. google, amazon, they're saying, okay, we're okay with it apple so far has declined to send tim cook. i think there is a lot of pressure coming apple's way. >> nilay patel, great stuff. thank you. >> thank you let's go to dom chu for the details. dom? >> the media chain giant is going to request all guests who go to watch a movie in their facilities nationwide to wear a mask until further notice. the reason why that is important, kelly, is it was just yesterday that amc had outlined a reopening plan for its theaters nationwide starting on july 15th that would lead it up to individual jurisdictions. if the state required masks, then the theater would require

masks. if it did not, guests would not necessarily have to wear masks that led to a huge outcry in just the last 24 hours as a result, amc saying all guests going forward starting july 15th nationwide will be required to wear a mask. kelly, i'll send things back to you. >> that is a big reversal. this is one of the big stories in the last day or so. we appreciate it, dom, thank you. dom chu with news there. one restaurant opener opened his doors when reopening happened he crunched the numbers and reclosed his doors could delistings be ahead? we'll explain. we're back in a couple

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exchange." let's get to sue herera for an update hi, sue. >> hello, everyone the world health organization warning that the coronavirus pandemic is accelerating and it has entered a, quote, new and dangerous phase, end quote the w.h.o. director general warning that 100,000 new cases were reported yesterday, the most in a single day so far. the philadelphia phillies are saying five players tested positive for the coronavirus they have closed indefinitely. the ncaa banning confederate symbols from hosting championships. this after the southeastern conference commissioner says mississippi must change its state flag or they might not host championship events the mississippi flag is the only current flag that contains the confederate symbol you are up, kelly. see you later.

back to you. a list of companies could be at risk of being delisted from the new york stock exchange. this because the pandemic lifted waivers expand in less than two weeks. bob pisani has that story. bob? >> they got a delisting from the nyc nine days ago. they're repealing that listing notice, and the stocks will remain listed until that matter is settled but hertz isn't the only one in danger of being delisted they waived some of their delisting requirements and said simp simply don't do trading. there is also price requirement. average closing price of a stock

had to be one dollar in a certain period that got waived here there are certainly 90-plus companies that are not in compliance, including jc penney among others these companies are not going to be delisted. rather, on july 1st, the clock that had been frozen for several months before, kelly, essentially is going to start run og thening on these compani again, so we'll have to revisit them to find out if they're still in violation of the delisting requirements kelly? >> and now they're without one of their colleagues. i was so sad to hear of the passing of rusty hewitt. >> yes, rusty hewitt was a beloved participant on the floor. he was a designated market maker for citadel for many years rusty then went upstairs and became a vice president to help with clients over at citadel and died very suddenly in the last week he was in his 40s, he had

children, and it's been very devastating for the last few days because you know, kelly, when somebody dies that young, it's one of those moments where you just stop and wonder about the meaning of life kind of things so our heart goes out to the family there and to citadel and the family that is citadel, a big player on the floor of the new york stock exchange. >> to be onset so suddenly like that, it's just so awful bob, i appreciate it thank you, sir our condolences do go out to ru russell lyle hewit he had been diagnosed with cancer just three days before. he leaves behind his wife and two children we'll be right back. ica's fastet network for iphones.

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welcome back to "the exchange." let's get a check on the markets which have changed their colors, shall we say, in the past hour or so and turned lower that's what we see with the dow down 180 points. we were up 300-some at the high. it's a three-quarter decline for the blue chips, half a percentage point for the s&p happ apple came out an hour ago saying they will be reclosing stores in certain states oil also turned lower and the ten-year treasury yield started slipping here's the sectors that give you a feel for the industrials the weakest today are down 1.3%. that's a cyclical part of the market not taking the news too

well within the dow, by the way, walgreen's boots, united health, raytheon technologies down about 2% a modern mexican restaurant in napa valley found the costs too high and decided to close their dining room again. joining me now to discuss his experience is tamer hallaway thank you for joining me >> thank you for having me >> we were very interested in your story about restaurants closing in particular. you could reopen, you did reopen why did you close the dining room again >> we gave it a week we had all of our safety protocols in place to make sure we were compliant with all the

covid-19 regulations, and basically what we found was not only is it not really feasible for us to operate at 50% capacity, but we learned that with regards to our staff there really was just no way to 100% protect them obviously guests were required to wear masks on entry, but as soon as they sat down to eat, obviously those masks would come off and they would stay off for the entirety of the meal our staff is sort of forced to be in a position where they were much more exposed to the virus than they wanted to be >> are you going to be able to stay in business >> you know, that remains to be seen i think every restaurant is doing what they can to survive right now. right now we're still going to operate as normal with our takeout model. it's obviously not going to sustain us long term, but for now it kind of keeps us afloat it's been mostly successful for us and people are liking what

they get from a takeout perspective. we just hope things change, restrictions are lifted soon and we can get back to a normal operation. >> did you ask for or receive any of the funds from the ppp? >> we did. we applied for the ppp loan basically on the day that they were accepting applications. like many small businesses, we missed out on funding on that first round. it did become apparent that a lot of big corporations got all that money on the first go-round, so with the second go-round of funding, we were able to secure a ppp loan. but with that comes a whole range of issues as well, and i'm sure many restaurants feel the same way, that the guidelines surrounding the ppp loan are really quite challenging for a long time we only had about eight weeks to use those funds, and we had to use those funds specifically in a 75% ratio topayroll, 25% to rent and utilities. so for the first couple of months of the shutdown, every

restaurant in the country was trying to figure out how they can use this money effectively to get forgiveness on the loan with a restaurant that's not open fortunately, those guidelines were changed only in the last few weeks, and so we now have an extension to use the loan, and it sort of makes it a much more feasible situation >> sure. i want to go back to one of the things you said, which is you can't 100% protect your employees. would you be able to stay open knowing that risk, or are you concerned about liability, or do you just not feel comfortable, kind of, being responsible for people getting sick? >> yeah, it's really the latter. i mean, we basically encouraged our employees to come back to work when they were on unemployment benefits. there has been an economic impact payment as part of those unemployment benefits, so there really was not a great incentive to come back to work because they're all making such good

money on employment. that being said, to their credit, they wanted to come back to work. they saw the bigger picture and they wanted to be a big part of bringing us back into business with that said, they came back to work. they were all wearing masks. we had a lot of sort of health and safety protocols in place, but they just felt that with guests not wearing their masks, that they were fully opposed to the virus during the entirety of their shift. they just didn't feel comfortable, and i don't really blame them some of them live with their grandparents, they live with high-risk individuals, so it really was a situation that we just didn't feel that it was a great position to put them in. >> i wonder to some extent when those payments end what people will do. will they feel as though they have no choice but to be forced to come back to work, and that's a whole other complication i'm curious in the meantime, you say you do a takeout business, you're in the napa valley.

could you do outdoor dining, just move to a field or parking lot for a few months >> that's a good question. we actually have a fairly generous patio here at the restaurant, so we do have an outdoor dining space but with the 50% capacity limits, it really did tcut that space down considerably. that being said, it is a nice place to dine. given our situation, we tried to think of other ways that we can offer some kind of dining service but in a much more controlled environment we're actually doing what we call our ppps, which are our private patio participants, so we're offering our guests to get a group of their family or close friends, people they feel comfort belieable with, people t can get tested before they come and have this event, and they can basically take over the patio themselves they'll preorder, prepay for

their food, so it allows us to have a controlled environment where there is a lot less interaction among customers. >> that's fascinating. my final question, tamer, where do you think you'll be a year from now >> that's a good question. things are pretty kovolatile rit now, so we're doing what we can to stay afloat i'm hoping in a year's time, things will be somewhat back to normal and we can just go back to doing what we do best >> he with awe all hope that in the meantime, please keep us posted you're a good template for what could happen ahead, follow the yellow brick road morgan stanley says investors should do that right now they see higher stock prices with everything we've been discussing plus, in his testimony earlier this week, fed chair jerome powell said nevada is

ground zero when it comes to, quote, covid we'll have more on the progress of reopening. stay with us can i find an investment firm with a truly long-term view that's been through multiple market cycles for over 85 years? with capital group, i can. talk to your financial professional or consultant for investment risks and information. twhile the future of work professional or consultant remains a question mark, one thing is certain re-opening will be a journey. that's why salesforce created work.com to help at every step of the process, with tools like manual contact tracing to help prevent one from becoming three and three from becoming more. while displaying key information in one place on a customer relationship platform you trust.

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welcome back to "the exchange." apple is reclosing stores in florida, north carolina, south carolina, and arizona. shocks have recovered from the initial shock. it seemed stocks on the street were starting to turn bullish for the rest of the year but we have signs the bears are out. joining me, mike wilson, chief executive strategist at morgan stanley. mike, it's good to have you. not to get to granular, this encapsulates the market for a while. you're still pretty bullish, though why? >> look, i think this is going to continue until it's crystal clear that we are reopening in a

way where there aren't going to be setbacks. but look, until we have a vaccine or there is a belief we have herd immunity and the virus has been eradicated, there will be moments of doubt. apple is probably doing the right thing. there will be pocket lockdowns, sort of spotty lockdowns where there is maybe a spike in cases. but a national lockdown that we experienced for the last couple of months, that is probably pretty unlikely, and that's what the market would be really concerned about. the virus itself is a serious health issue, still, but from an economic standpoint, the worst is behind us and we think the market is trying to look forward and ultimately these are buying -- the virus scares will be buying opportunities as far as we're concerned >> the s&p is around 31.01 you just raised your target from 3,000 to 3,350 what's that based on >> it's based on the recovery. when you go into a recession,

the earnings get cut and you're at trough earnings the market knows that. that's why we're trading extensively. a lot of people say the market is ahead of itself the market is looking ahead of itself and saying, the market is probably troughed, and i think they have, but as we go forward, those estimates will probably go up by about 50% or so, so it's about a 10% upside >> this is a bigger discussion, but i'm sure it comes up all the time when people say, mike, this is a disconnect from main street, this is all fed liquidity, it's artificial and doesn't reflect reality. what's your response to that >> but it is reality i mean, the reality is that the fed is doing these things, and the reality is that congress is spending a lot of money on the fiscal stimulus. there is nothing phony about that those have real implications for the economy and earnings next year and valuations, right the fed's intervention has effectively truncated this

recession for the credit markets, which means companies have virtually unlimited access to capital markets, which is helpful. and they're keeping interest rates lower which is obviously a benefit for valuation. so -- i mean, i would argue strongly against the idea that the market is disconnected it's just basically taking the inputs that are in front of us and discounting them >> so final question, mike, is are you concerned -- or do you think it could happen that this starts to kind of get a frothy aspect to it we saw, obviously, a lot of retail interest that drove individual stocks to some pretty eye-popping levels what about that is an effect on the market overall >> that's a legitimate concern we are seeing pockets of speculative activity, and some of that will have to be taken out, and some has been taken out. we had a nasty time on the third day and the stocks that got

frothy did take a hit. we're not seeing that kind of speculative behavior in our network. we're a pretty sizeable wealth management firm of $2.5 trillion, so we haven't seen any kind of euphoria on this rally yet. i think that could be to come. it's another reason to think that later, as the virus is contained or we have a vaccine, i think there is actually more retail money that could come in later in the year. i appreciate your comment about some of these pockets of speculation, and we would be careful about chasing some of those types of stocks for sure >> and as you said, not something you're really picking up on in your firm, either mike wilson, chief executive strategist at morgan stanley coming up, nevada has been hit hard by the coronavirus with a balloon deficit and the highest debt in the country. we're going to talk about reopening for las vegas. on juneteenth, we take a look at one of the battle states and key issues for the country

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welcome back got a news alert on the cruise industry seema modey has the details. seema? >> reporter: the cruising are announcing suspension of cruises from u.s. ports to september 15. that's further delaying when these ships will head to sea and that's going to hit carnival, royal caribbean and norwegian cruise line. both carnival and royal were aiming to resume some cruises

starting august 1st. just a few days ago, norwegian cruise line pushed its date to october 1st. it is clear that more time will be need to do resolve barriers of resumption in the united states, and that the additional time will allow them to consult with the cdc remember, kelly, this is an industry that has come to a halt since mid-march. the cdc reacted to that no sale order that is expected to expire on july 4th, but it's been an uphill battle for the cruise lines to get these negotiations started with the cdc and outline the changes that need to happen in this post-covid world, including how to do social distancing on board, what capacity can they operate at, and other procedures like medical evacuations and isolation techniques all have been on the table have yet to be fully finalized and addressed, and that's why you're seeing these cruise lines once again delaying sales from now until the fall these cruise operators are

already burning a lot of cash. carnival yesterday said it's burning around 650 million a month. kelly? >> and they're all extending their losses with session lows of about 5% or 6%. seema, thank you very much juneteenth marking the end of slavery in 1865 as protesting from the death of george floyd continues, racism is the biggest problem in the u.s. ylan mui joins me to talk about what it means for the election ylan >> in six battleground states, racism is one of the top issues voters said they care about heading into the november election interestingly, it ranked above the coronavirus. 30% of voters said they see racism as a problem. only 30% of voters say they are worried about the virus.

there is a political divide over this issue racism is the most important problem for democrats. republicans see it as actually the least most important problem. but the real dynamic to watch here is the sentiment among certain but the real dynamic to watch. they say college educated women and young people, they pointed to it as a progress more than any other issue. that could create problems for president trump come november. >> thank you very much for more i'm joined by steven horseford from nevada. >> hey, kelly, good to see you what do you see as the additional days off and the

marking of juneteenth. >> i join my colleagues in calling it for a federal holiday. this is manage that we should have done a long time ago. this is a sol limb day for many because we have not lived up to the ideals of what it heens to be free in this country based on the systemic racism not just in police departments but other systems like education, health care, wfs and so many others >> you introduced the justice and policing act where are we in that now >> it has passed the house judiciary committee and it is scheduled to come up for a vote by the whole house of representatives by next

thursday so before the end of june that legislation will move, it is very important bill that bans choke holds, it bans no knock warran warrants it would end qualified immunity and it would change the way that we handled policing in this country. i look forward to the bill's passage in the house and i urge my colleagues in the senate to work with us on this legislation in this important time of our country. >> of course one of the other big issues is unemployment i want to pivot. ohio has the highest unemployment right now at about 28% and nevada is ground zero for why more stimulus is needed. here is what the chair said. >> there is a lot of people going back to work and a lot of

people that can't. if they work in nevada, for example, the travel and entertainment industry, there are not going to be jobs it will be awhile. i think some form of support is likely to be appropriate >> what do you think that support could take >> i agree with the fed and i call on my senate colleagues to pass the heros act it is not just relief to state and local government, it is so important not just in nevada, but to our local counties and cities on the front line but also targeted relief, additional insurance direct cash payments to individuals struggling to get back to work and more relief to small businesses

the chairman is very right and there are more than 500,000 nevadans, a 30% unemployment rate, the highest of any other state in the country and that doesn't include the gig economy workers. >> you said your state is hit the hardest and i'm looking at the state budget numbers and they're pretty bleak you have to wonder what the implications of that will be >> first i came, first i served in the state senate and i was the majority leader. we had the worst budget in our state's history. and what i know now as a member of congress is that we need

federal action we would have 8.6 billion of funding to our state and local governments in order to provide those essential services the last thing we need is to cause more unemployment among first responders, educators, caseworkers, nurses, many of whom are employed by state and local governments. i'm calling on mitch mcconnell and all senators to join with the house of representatives bring up the vote on the heros act, allow us to provide this relief it is time for the senate to act. >> congressman, thank you for your time today and for joining us >> thank you >> that is representative steven horseford of nevada. some of these people waited in

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welcome back, video of a huge line of people has gotten big headlines this week. we have the details on why this is happening >> the video is perhaps shocking enough but when you learn why all of these people are waiting you will learn why people are waiting up to eight to ten hours some have lawn chairs, some

passing time on the phone. some are wearing masks, so are not. and those not arriving by 9:00 a.m. are being turned away by state troopers this is what it has come down to >> there has to be somebody that could have said hey, this is what is going on and it is just ridiculous. after 90 days you can't tell me that there is not someone that can help me. >> kentucky officials say they process 90% of eligible claims and paid out more than $2.5 million. in yesterday's job's report they records a decline in claims. we should also say that we spoke to our affiliate and they said the line today was just as long. >> why could they not do it online >> the site was crashing a lot of the tech sites, the

i.t. systems, are not in place for the demand that we're now seeing >> they had no other choice. that is crazy. we appreciate it that does it for "the exchange" today. i'll see you on "power lunch" with tyler mathison. >> we'll see you over here, not in the kitchen literally, but in just a moment. stocks are selling off midday as apple retreating it's closing stores in four stores because of renewed coronavirus concerns investors fearing a slower than expected recovery and bounce back look at the shares, reversing sharply as you see now at 347.90 we'll look at what it all means. amid all of the